The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1889-11-13
TREASURER HUsToWs FIRST REPORT.
A Remarkable Year In the Financial His
tory Of the Rcpub &c.

A Remarkable Year in the Financial His
tory of the RePub &c.
WASHINGTON, Nov. lO--In his report for the
year ended June 30 last. Treasurer Huston
says: The year was a remarkable one in the
history Of the public finances, both the revenue
and the expenditures having been exceeded
but few times since the foundation OF the gov
eminent, The former amounted to SSs7 050-
05s and the latter to S299, ,2SS,97s inclusive Of
1892 362 paid in premiums on bonds pur-
chased. The surplus revenues June so were
SS7,76l 060 decrease OF S23. $50 1913 az compared
with the year before, counting premiums on
bonds as an ordinary expenditure. On June
80, 1883, there was IN the treasurer's custody ia
cash and effective bonds the sum Of S764 729, ,SS5.
and year later the sum Of S760,643,S7l The
current liabilities decreased IN the interval
from si4s 29i, ,347 20 Sl27, ,93i, $50 and the re-
serve from S229, 500 500 and S193,007,O47
The gold in the treasury IN excess ot the Ger.
tifcates outstanding was si936l0iS2 in 1883
and $lS6, ,257, 400 in 1889. Notwithstanding the
loss OF gold, both in the aggregate and in the
amount not covered by certificates, amounting
TO nearly per cent, the position Of the treasury
was strengthened in every respect save in
the amount OF reserve. The, total assets, the
Liabilities and the reserve all fell of about IL
per cent At the beginning OF the year the
free gold was $4,000, COO ard az the close S5s,-
100000 in excess OF demand liabilities. The
unavailable funds, exclusive Of upward of
SOS, 600 coo on deposit with the states under the
law OF 1886, amounted at the end Of the year to
Sl,4l5,433. having been decreased By an appro-
priation Of S24,0t6 20 cover losses in the New
York sub-treasury, and increased by a loss Of
$4,000 at san Francisco, reported by the as
sistant treasurer there in 1856. The treasurer
suggests that the present methods OF keep
ing the account by which he is charged
with funds that do not exist should
be changed so that the books would at all
times show the true state Of the treasury With
out real or apparent discrepancies. Tho
changes that took place in the currency were
an increase Of about s3i,000,000 in the stock Of
silver contraction OF S4l,Oo00 600 in the
national bank circulation and loss Of S25, 750,-
600 of gold.
The reports show that in the period Of four
years the public ownership Of silver was nearly
doubled while the volume OF notes was dimin-
ished from S6i7 1885, l47 to $3.50 $50 47S. The in.
crease Of the circulation OF silver certificates
was about S56.0000O0. having kept pace with
the rate Tor the two previous years. The new
issues OF small denominations appear 20 have
fully supplied the needs OF the country.
The coinage Of the standard silver dollars
has proceeded without any incident worthy OF
remark. Without much change In the amount
in circulation there is a tendency toward de-
crease. During the year the national banks
withdrew 500, 6,S4090O Of their bonds held by
the treasury as security for circulating notes Of
public moneys. The deposits amounted 10 SIS.
243,70o. There remained, az the close Of the
year, Sl4S, ,l2l ,450, belonging 70 1902 banks, as
security for circulation and 81, ,222 600 belong.
ing 10 go banks, as securities for deposits. The
report shows the minimum limit OF bonds
for the present capital OF the banks were only
about s50OO0.O00 or 500 100000 below the
amount on deposit The amount Of public
money held BY depository banks ran down from
S5S7l2,5l1 10 S47,2j9. IA, the result mainly of
voluntary acts Of the banks in surrendering the
deposits ana Withdrawing their bonds. The
semi-annual tax on circulation amounted to
Sl,4l033l for the year The net deposits during
the year amounted TO $50 4s4. .4l5, Of which sums
$40 5S3 $50 was for the reduction OF the circula-
ton OF active banks