The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1889-11-11
WHAT UNCLE SANS SAFE CONTAINS.
The Old CentIeman's Finances in
Better Shape Than Heretofore.
frances Big Show Has Taken Some
of the Yankee Gold,
But the Loss Is Too Small To Be
Seriously Considered.

WASHINGTON, Nov. 10.-United States
| Treasurer Houston has made the report of
| the operations of his office during the last
| fiscal year and the condition of the treasury
| on June 30th last. The year was character
lied as a remarkable one in the history of
| public finances, the revenues and expend.-
lures having been exceeded but few times
| since the foundation of the government.
| The former amounted to 1887, ,050,058 and the
latter to $685. 2SS,97S inclusive of ST.. .292 1862
| paid in premiums on bonds purchased. The
surplus revenues Jone 30th were S87, ,761 ,06O.
decrease of $2S. 1893 as compared with
the year before, counting the premium on
bonds as ordinary expenditures. On June
80, 1889, there was In the treasurer's custody
in cash and effective credits, $760, 0,633,8T
Current liabilities decreased in the year
from $14S. .291 ,347 to $127, 1881, $50 and the re-
serve from $220, ,S05, 600 to $685. ,047. The
gold in the treasury in excess of certificates
outstanding was s1S6, ,257, 400 In 1889 the
position OF the treasury was strengthened in
every respect save in the amount of the re-
serve. The total assets and liabilities and
the beginning of the year there was of free
gold $45, 600 900 and at the close sos 900 900 in
excess of demand liabilities. Changes in
the currency were increased. About 49,, ,000,..
wv W6I6 III SUCK Ol Sllt6T, butI6 WAS u COD.
traction Of $41, 900, 900 in national bank circu-
tion and loss OF $25,75c,00 gold. Each
former year since preparations were CON-
menced for resumption OF specie payments
witnessed an increase of gold In the country.
cent of the stock The fact of the loss itself
Is not considered significant. in view
of the large number of Americans
who visited Europe the past sea-
son, and the rapid influx of gold
drrri rim In fxun nnar ino hn 10 Nbn
total stock of gold. silver and circulating
notes, was So, ,OS5, 1874, ,571 in 1888 and $2,O99
96S, ,7l8 in 1889. 1t would seem from these
figures that there had been an increase of
the circulating medium, but the certificates
of deposit. which are included, are merely
representative of money in the treasury, and
to count them with the coin and notes to
which they give title, would be duplica-
ton. If they be set aside and the actual
moneys dispersed according to ownership,
the foregoing figures will be reduced to ST.
69S GAO tor 1888 and 81, ,666 095, ,420 for 1885,
making an apparent contraction of about
$33, 900, 900 in the total currency of the coun-
try. AS the holding of the treasury decreas-
ed in the interval in the sum of ..$41, 900, 900,
the circulation increased about $S,0OO00
The public lost S1S.000,OOO of gold and $780,
10000 of notes and gained $36,000,000 in
silver.
During the year the national banks with
drew $66, $40, 900 of bonds held by the treasury
as security for circulating notes or public
moneys. The deposits amounted to $25, 243,-
700. There remained at the close of the
year $14S, 121, ,450 belonging to 3,262 banks as
security for circulation, and $40, ,222, 900 to
270 banks as security for deposits In the
last ten years the number of active banks
has increased nearly 60 per cent, while the
amount OF bonds held to secure their notes
has decreased about in the same proportion.
The minimum limit of bonds for the present
capital Of the banks is only about fifty or
sixty millions below the amount now on
deposit. The amount of public moneys
held by depository banks ran down from
$50,712,511 to S47, ,259, ia, the results mainly
of voluntary acts Of the banks in surrender
Ing deposits and withdrawing their bonds.
The semi-annual tax on circulation
amounted to S1,4lO,33l for the year. The
decrease Of S4l, 900 in the national bank
place within any One yeaf ne es taken
was first issued. The cor traction, which
began in 1883 with the redemption of the
three per cent bonds, has ammounted to
$3.50, 900, of which $100000.0O0 fell t. the
last three years. The outstanding
June 30 with S78, 900, 600 of lawful money on
deposit for further reduction. In proper
tion to the circulation, redemptions were un-
usually heavy. but there has been distinct
falling off since July. Investigation OF the
causes which produced the large accumula-
tion of funds in the treasury for the retire
ment of these notes lead to the conclusion
that unless an unfavorable condition should
arise the amount will continue to run down
until it reaches an unimportant sum. Net
deposits during the year amounted to $32,-
484415, of which sum 500, $50, $50 was for
reduction of the circulation of active banks.