Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1889-11-11
DEBIT AND CREDIT.
Looking Backward Over the
National Finances.
SOME wEIGHTY FACTS PRESENTED.


A Big Bulk of Gold Conc Out of the
Countrywide Condition of the Cir
cuiating Medium--NstionaI Bank with
drawsis-The National Debt and Pur-
chase OF Bonds-Morgan the Red
General Capital News.
WASHINGTON CITY, Nov 1.-THE report
OF United States Treasurer Huston was
given TO the public yesterday. 1t is for the
fiscal year ended June 80 last. and says that
the year was n remarkable one in the his
tory of the public finances, both the reve-
nues and expenditures having been exceeded
but few times since the foundation OF the
government Revenues amounted to $751;
051, O5s, and expenditures to 500, 2ss 97S, in
elusive OF Sl7, 800, 36e paid in premiums on
binds purchased. The surplus revenues
were $50, 76l, 0>O, decrease OF s23, $50, 1893,
a. compared with the year before, counting
premium on bonds an ordinary expendi-
ture. The receipts on account OF the public
debt amounted to s2l5, Ill, $50, and the ex.
penditures to $3.50. 2l4,775 The gold in the
treasury in excess Of certificates outstand-
ing was si95, $40, Is2 ON July /, 1888. and
sls6, 2j7, 400, on July /, 1889 Notwiths tand-
ing the loss OF gold, both ia the aggregate
and In the amount not covered by certifi.
hcaies, amounting to nearly per cent, the
position Of the treasury was strengthened 10
every respect save the amount of reserves
Tue total assets, the liabilities, and the re-
serve all fell off IA per cent At the begin.
ming OF the year the free gold was S45 .OOO,-
600, aud at the close SIS, OJO, OOl, in excess OF
the demand liabilities.
Figures on the National Debt.
The aggregate Obligations of the govern
ment at the close of the year, including the
puilic debt and the national bank. note re-
demption funds and deposit accounts, of
which the treasurer has sole charge. were
$50, 67S, as. The debt. less cash in the
treasury, was Sl,05O.O34 6l3. as against
81, 1870 ,OO0,STS year before. The debt
proper, consisting OF the interest bear ing
bonds, outstanding notes, aud mature1 Sc
curities, decreased during the year from
81. l37, 30, 574 to 81, $50, O53, l56 The total
application OF moneys 10 the extinction of
the principal, inclu1ing premiums, was Sl3S, -
5d2, 7il, OF which sum Sos, O53, 443 was de-
rived from surplus revenue aud SIS, 500. 297
was taken from cash in the treasury The
purchases Of bonds amounted 20 S.. 56S, $50
~ per cents. and SIS. LOO, 40 of 1 per cents.
The reduction OF the annual intsres, charge
effected by the operations OF the year was
s. ~, so
Condition OF the Currency.
The changes that took place In the cur
rency during the year were an increase of
about 80 10000 IN the stock OF silver, a
contraction OF ell, 900, 900 in the national
bank circulation, and loss OF s2j, $50, 600 Of
gold. OF the three, tho first two are not
usual, but the last Is new, each former
year since the preparations were commenced
Tor the resumption OF specie payments hav-
ing witnessed an increase Of gold in the
country. Tue amount OF the loss is less than
per cent OF the stock Of gold, and the fact
OF the loss itself Is not considered significant
In view OF the large num!,er OF Americans
that have visited Europe the past season,
and the rapid influx of gold during the two
years preceding the last The total stock of
gold, silver, and circulating notes was
s4,OSj S3i, 57l IN lSSS, and g, G99. COS, us in
1859.
Misleading Statement Corrected.
lt would seem from these figures,
Treasurer Huston says, that there had been
an Increase OF the circulating medium; but
the certificates OF deposit, which are in-
cluded, are merely representative OF moneys
in the treasury, and 10 count them with the
coin and notes To whca they give title
would be duplication. II they be SCI aside
ana the actual moneys disposed according TO
ownership, the foregoing hsures will bs re-
duced 10 sl,U'o' ,oiS Tor 1855, and 81, d56,-
10 80 ior Is'' making apparent con
uacton o. ABOUT s'o'co'oOo IN ths total
currency OF 'he country.
some Further Explanation.
As tue hoillhgs oil the treasury decreased
IN tue interval III the sum OF s4l,OOO,Oo0 the
creuia.'oh Ihcreaseu ao'ut Ss,OJO,Oo The
pubic los eio'ooO,OoO OF gold and 60, OOO, UOJ
OF NOES ana gained s'ooOO,oVo IN silver. A
conpaI'son Oh Tue currency IN the country at
tue ehd oil each oil the last i've years shows
that the percentages of gold Tell Off only
slightly, while it Is still higher than il was at
the end of any year prior To lSS,S Tina nor.
centags OF gold IN ,he actual circulation hos
shown less variation In tn, married. Of four
Years the public ownership of silver was
nearly doubled while the volume of notss
was diminished.
The Circulation of Dads" Dollar.
As the efforts to increase the silyer circu-
lation have provel futile. no extraordinary
Inducements have been held out TO the pub.
lie TO take them, AMI it is suggested that it
might be well to stop paying the cost OF
transportation from the treasury not only
rs a measure Of economy, but also as a posi-.
BILE means Of checking the too ready return
OF the coins to the treasury. 1t is claimed
that In this way the silver dollar would bava
the advantage OF being held strictly on mar
with the other currency. while the stap
would not give the public any Inst cause fnr
complaint.
National Bank statI.ttc.
During the year the national hanks with
drew sos $40. 800 OF their bonds held by the
treasury as security for circulating note.
or public moneys The deposits amouuted
Co $25, Ia, 700 Tuers remained at In.
close Of the year SlIs, l2l, 45O belonging 10
3,2"S banks as security for circulation. aud
$50 @'.''--'"y 70 80 h'nk-as security
Tor ueposits In the last ten years the mum
OeI u ne''Ns uanNs mas ilcre'''su heary 90