Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1890-11-19
.. S. TREASURER
Submits Report on Operation
and Condition Of Treasury
For The Last Fiscal Yeal.--Gfand Shov
Ing Of The Ceanty's Finances.


WAsHISGzos, Nov. ls.-The Treasurer
of the United States, Hon. James S. Hus-
ton, submitted to Secretary Window a
report on the operations and conditions Of
the treasury for the fiscal year ended June
30th. The net ordinary revenues were
S403, ,0S0 ,9s2, . sum but twice exceeded in
the history of the government; increase
over the year before, el6, ,030. .923, Of which
Sll. .725 .l9l came from internal revenue.
Ordinary expenditures. s297 1876. .436, an
increase Of $l5, ,739 ,s7l over the year be-
fore. There would have been falling of
in the expenditures but for the increase in
pensions.
The surplus revenues were $l05 ,344, 1876,
Of which $40, 1904 ,234 were paid out in
premium on bonds purchased. The re-
ceipts of the postoffice department was
s6l, LOG. .04l, expenditures s67 OIL ,263, an
increase between $5 ,0OO, 900 and 81, ,00O,-
900 on both sides. At the close Of business
June 80, 1889, there was charged to the
treasurer on the books department $685.
399, 9,1l8. To this they added the receipts
of the year from revenues, and on account
of public debt amounting to $648, ,375, 1863.
Not much change has taken place in the
movement of United States notes.
The counterfeit notes representing an
aggregate value of sS,479 were presented
st the office, an increase of 50 200 over the
year before, An appropriation of $500
was made in September for the reduction
of certain notes stolen from the Office of
the Comptroller of Currency prior to 1863
fraudulently put in circulation. A de.
crease Of less than $s,Oo0,000 in bonds is
held on deposit to secure the national bank
circulation. Seventy three banks were
discontinued a. depositories and eight new
ones designated.
The redemptions Of bank notes amounted
to nearly $40, ,000, 900, a decrease of up
wards Of $lS, 900, 900 as compared with the
year before. Owing chiefly to the lower
prices ruling for bonds the deposits for the
retirement OF national banks notes
amounted only to $ll,o00,000. The
amount received in these deposits to 25th
of July last was nearly S479, 900 600, of
which S404 ,000, 900 was paid out in the re-
demption of notes and upwards of $50, ,00O,-
900 refunded or transferred. Balance on
hand, S54, 1888, 475, deposited in the treas
ury by the treasurer's check.
The attention Of Congress is called to
the condition of the vaults and safes in the
Office. with an appeal for means to provide
others of modern design. Continued en-
barrassment attended the work Of supply
ing the country with paper currency, from
delays and failures in filling the treasurer's
requisitions for new notes. He argues that
it is puerile to allow so small difficulty as
the printing of q few thousand sheets of
paper to become obstacles in the discharge
of public business and an annoyance to the
people in their money matters. He sug
gests that greater fexibility might be
given to the currency if gold cerlifi-
Gates of the denominations 5 and 10
dollars issued. The treasurer claims thst
the salary paid the officers in the treasury
10 an inadequate compensation for the du-
ties performed, and being less than those
paid in well managed private institutions
and less than those paid in the sub-treasury
at New York. He adduces the statement
of work performed in the treasury and sub
treasuries placed in comparison with sim
iIanI1atod bank of England.
Tht4fea3d2ySyj Rn average salary of
SI2i3; sokV1as kies, Sl6z5; bank of
England, &l4Q he immense operations
|sf& ~ kf accomplished with the
- 6fSHbbut slO0, 0,0o0. 900 less
money I'D cn6f the treasury than was
necesb45 Ne pre- Nous years
Amy Ytek,, the chairman of the Loan
ComnIltteezsof = clearing house says
that "a .0Qo, 900 lQau certificates were
- 3hy the banks today and he
s4ptc15Aa larger issue tomorrow.
A inCe6lmt is on foot to have the bank
presided b effer to take from secretary and
treasury $40. 600. coo in small coin on con-
dition that be pays 4 per cent. bonds to
that amount. II the bank presidents sue
coed in this proposal, it will take the bal
ance of the small coin in the treasury.