The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1889-11-11

Hank Statistics.
CnfcAeo. Nov. f0.--zT Treasurer Hnston 81
tie Enifed states. in The report Of the
operations Of his ossscs daring the fiscal
year sHd the condition Of the treasury
June - last, says; The year Is cbarscEer-
tzed aa q reTn6rksble one i'm the history ct
puh2ic finances. both rertfs1e and expendi-
tares having been exceaded bnf q few times
since the foundation Of the government
TIE forrner amounted to s3s7 90. 05s and
tine latter 70 so ~ ,g7s. inclusive OF ST.
- IL paid ia premiums on bonds prs-
chased. The surpEas revenue June 80 was
So .7ti go decrease Of IS So, fg8 com
pared with the year before. counting the
premium en- bonds as ordinary expendi-
lures june 80, E8sS. there was in the
tFeasxTerss custossy IN cash aud effective
bonds the SUM af Sol, 10 50. Unavasl-
able funds. exclusive Of upwaFdso Of SIS co.
90 on deposit with the states under the
law Of 1850. amounted 81 the end Of the
year to 81, si5.s 35, having been decreased
By an appropriation Of 81 .0l6 TO cover she
losses in the New York suh-freasury and
increased by loss 81 $4,000 at San Fran
cisco by the assistant treasurer there IN
1856
method q keeping accounts, By which he
Is charged with funds fhxt do not exist.
should be changed 80 that the books would
at ali times show The true state Of the treas
uFy withoa raj OF apparent discrepancy.
The changes that took place IN the cur
rency we're ali increase OF about Sd GO. 900
in the stock OF silver, contraction OF $4l,-
000. 900 In the national bank circulation.
n -esft n
port shows that IN 4 period OF four years
the public ownership Of silver was nearly
doubled. while the volume Of notes was
diminished from Stf7 .3s5. ~ to $3.50 .S0a, 49S.
The increase in circulation Of silver certif-
Gates. about IS. eco 900. kept pace with the
rate for the two previous years. New
issues OF small denominations appear 20
have fully supplied the needs Of the coun-
try.
During the year national banks withdrew
SCI, $40 90 OF their bonds held by the treas
nry Is security for circulating notes OF
public money. Deposits amounted to 49,
343, s00. There remained at the close OF
the year sl4S, III 40 belonging to 81 .e26
banks, as security for circulation, and 49,
- 600 belonging TO 20 banks as security for
deposits. The report shows that the rain-
imnm limit Of bonds for the present capital
of the banks were only about $50 600 600 or
SEQ. 10000 below the amount now
on deposit The amount OF public
money held by depository banks
ran down from $5s.7l5.5li TO $s-, 259. ia
in the year. Current liabilities decreased
In the intervals from $l4s.29i AZ to SizT :
9sI so, and the reserve from 500 500 600 to
si93, U97 OF. Gold in the treasury IN excess
of certificates outstanding was sl93. GIG. l72
in ISIS, and Sis6. 25T 40 in 1850. Notwith-
standing the loss Of gold. both in the aggre-
gate and in the amount not covered by GER
tiIieates, amounting to nearly per cent.
the position OF the treasury was strength
ened ia every respect save the amount of
reserve. The total assets, liabilities and
reserve all fell oil about IA per cent. at the
beginning OF the year the free gold was
81. 0o0. 900. and at the close SIS. coo, 000 in
excess OF demand liabilities.
The semi-annuai tax on circulation
amounted 70 81. 4I0 S3I for the year. Net
deposits during the year amounted TO
So AS. 4l5. OF which sum s29. SIS, $50 was
for reduction OF the circulation of active
banks. The question whether national
banks should be required TO redeem un-
signed notes stolen from them and pat In
circulation has been considered and the
treasurer's opinion Is that the Law plainly
requires banks to provide for redemption
Of notes issued 10 them whsther regularly
paid out or net. The innocent holder Il
entitled 70 the advantage Of the provision.
The report closes with some criticisms on
the inferiority d tho provisions for safety
Of public funds. and makes certain recon-
mendations fos improvements.