New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-11
THE NATIONS FINANCES.
REPORT OF THE TREASURER OF THE
UNITED STATES.
FACTS CONCERNING THE REVENUES AND Elk.

FACTS CONCERNING THE REVENUES AND Ex-
PEYDITUREs OF THE GOVERNMENT.
Washington Nov. 10.-J. " Huston. Treasurer OF the
United States has made long report to the secretary
Of the Treasury of the operations OF his ONCE during
the last fiscal year and the condition OF the Treasury,
June 80 last of which the following is a synopsis;
The year is characterized remarkable one in the
history the public finances both the revenues and the
expenditures having been exceeded but few tmes since
the foundation OF tho Government The former amounted
1897 O58 and the latter to 5000 2sS975, inclusive
Of s17, 292 3G2 paid in premium on bonds purchased
The surplus revenues 80 sS7,701, 600, de-
Of 1913 $50 193 compared with the year before
counting premium bonds as an ordinary expenditure
80 1888 there in the Treasures custody in
and effective credits the OF @704 720 1885, and
year later OF s760 043s71. The current abili-
ties decreased in the interval from sl4s.29l'547 10
s127, 93 $50. and the reserve # m s22oeO5.OOO 10
sl03 904 The gold IN the Treasury In excess OF GER
tncates outstanding Sl936i0,172 in 1888, and
1856 257 $50 in 1889. Notwithstanding the loss Of gold
both the and in the amount not covered by
certificates amounting to nearly cent the position
the Treasury strengthened In respect save
the Of The total assets, the liabilities
and tho reserve all fell of about IA per cent AZ the
beginning Of the year the free gold $4,000 0o0
and the close, s5s,ooo,o0o, in excess OF
the demand liabilities. The unavailable funds
exclusive OF upward OF SOS, 900 deposit
witt the States under The law OF 1885 amounted at the
end OF tho year to s4l5433 having boon decreased by
appropriation Of &2l,06 to losses IA the New
Sub Treasury. and increased by OF 10000 az
Francisco The Treasurer suggests tina. the present
method OF keeping the accounts by which he is charged
that do exist should be changed thai
the books would at all times show the state OF the
Treasury without real or apparent discrepancies
The changes that took place In the currency were an
increase OF about s34,00O0o0 in the stock OF silver
contraction Ell 100000 IN the National bank circulation
and loss Of s25 $50 600 gold. or the first
unusual but the last IS new The amount OF
less than per cent OF the stock and the fact
The loss self IS not considered significant in view OF
the large number OF Americans that have visited Europe
th5 past sasOn and the rapid influx Of gold during the
two years preceding the last The total STOCK
Of gold, silver and circulating notes was
81 OS5 1874 ST. In 1883 and 5000 oe97lS IN 1889
It would from these figures that there has been
increase OF the circulating medium, but If the Ger.
Of deposit which are included 70 set aside and
actual moneys disposed OF according to ownership
the foregoing figures will be reduced TO 9o4 049 Dor
1888 and 81 $685. O95,420 for 1889. making apparent
of about s33 900 in the total currency OF
the country AS the holdings Of the Treasury decreased
in the interval in the Of oo0 the circulation
increased about IS 100000. The public ost s1s.oooooo
of gold and $50 900 OF notes and gained s6eoooooo
in silver.
The Increase OF the circulation Of silver certificates
was about 900 600 ooo having kept pace with the me
for the two previous years. The new issues Of small
denominations appear to have fully supplied the needs
OF the country.
The coinage standard silver dollars has proceeded
without any incident worthy OF remark Tho shipments
to and from Treasury have been about as usual oue
the expenses Of handling have recently been considerable
efforts INCREASE the circulation have proved iue
no extraordinary inducements have been held out 70 he
nubIc to take hem it IS suggested that 1t might be
well to stop paying the cost OF transportation from the
Treasury 1t claimed that in this way the silver DOLLAR
rold have the advantage being held strictly on par
with the currency while the step would not give he
public any just cause for complaint
During the year the National banks Withdrew |
500 $40 900 of their bonds. held by the Treasury as Sc
cifa
curly circulating notes or public moneys me deposits
amounted to s25 There remained at the close OF
the year s14s belonging 1902 banks as security
for circulation. and s45222Oo0 belonging to 30 banks
as security for deposits. In the last ten years the
nunber OF active banks has increased nearly |
90 per cent while amount Of bonds held TO secure their
notes has decreased about the proportion The
minimum limit bonds for the present capital OF the banks
f. only about fifty sixty millions below the amount now
on denos The amount public moneys held by depos-
,,orv hanks ran down s5s712, 81 II TO s47259-
ia 40 the result mainly Of the voluntary acts OF the
banks in surrenderng the deposits and Withdrawing their
bonds The semlannua tax on circulation amounted 10
81, 410, 531 for the year
uaon was the largest that taken place within any
one year since this currency was first Issued Ihe con-
,,,n which hogan in 1888 with the redemption OF the
NOR cont bonds has amounted TO 500 VoOOO OF whcn
800 600 ooo fell TO the last years The outstanding
amounted to s211 600 0o0 June 80 with s7sOOO-
COO ~ lawful money deposit for further reductions
In proportion to the circulation the redempuonS
were unusually heavy, but there has been a
distinct falling of since February. An investigation OF
the causes have produced the large accumulation oil
rrd in the Treasury for the retirement OF these notes
,ds 70 the conclusion that unless unfavoroble conii
49, shopa arise the amount will continue to run down
un, t. reaches an unmporant figure The net deposits
during the year amounted to 40 OF winch sum
900 5sa $50 was for the reduction Of the circulation OF
active banks. ~, ,
The report closes with some criticisms on the IN,
eority Of the provisions Tor the safety Oh lne PhDlc
nJ and thc cOnveniences for the TRANSACTION OF Dusl
luz and makes certain recommendations for improve
mcnts I'm this respect