, 1890-11-20
TREASURER'S REPORT
Revenues for the Past Year
Very Large.
EXPENDITURES OVER A BILLION
He Makes Some Suggestions-The
Treasury Clerks Poorly
Paid.

WAsIirNGroS, Nov. ls.-ln his annual
report United States Treasurer Huston
shows the net ordinary revenues for past
fiscal year amounted TO si03 OSO, ,Os2 u
sum but twice exceeded in tho history
OF the government. The increase over
the year before was SIC, 030, 923 of which
$l1, 725, 10l came from internal revenue.
The ordinary expenditures were S297 -
1886, 535, an increase of Sl5, 739, 81 over
the year before. This increase Is princi-
paly due to an increase in pensions.
The surplus revenues were Sl05, 34i -
490, of which $50. 30i, 22f was paid out in
premiums for bonds purchased.
The receipts of tho postoiiice depart
ment were $6l, l06, 0il, and expenditures
s67, oil, 263, an increase of between five
aud six millions on both sides. Tho
aggregate amount for which the treas
urer was accountable during the fiscal
year was 81, 32l, III 482. Of this no dis
bursed 81, $50, 2i7, ,07S on warrants. De-
ducting the amounts for deposit with
states and various other sums, tho
amount remaining for which he was
accountable was S757. 9i6.07S.
Tho amount of gold Ia the treasury
increased during the year from $685.
3S7.7l0 to $500 933, li5; silver from
$3l5, l60,779 to S}i6 $40, COG, exclusive of
| the amounts on deposit
| There was In the treasury belonging
to the government on June 80, 1889,
$500, ,O2s,027, and OH June 80 1880,
S2SG, si,si5. The smount of gold in-
creased about -, 600, 900, while silver de-
creased nearly 5000, 600.
| The liabilities decreased during the
year from 1927, 93l $50 to SiO7, i2i, 7ls,
and the reserve being In excess OF the
assets over the Liabilities ran down from
Sl0S, ,O07 0i7 to Sl70, 260, 007.
Tho total obligations of the treasury
on ali accounts were 1870 67S, ,475 on
Juno 80, 1885, $l722 2l0, 1853 on Juno
30, 1890, not counting certificates of de-
post.
The debt proper, in the shape of bonds
and circulating notes, was reduce from
81, 250, ,0i3 1856 TO 81, lis, 400, os6.
This was effected at u total cost OF
| 1924 052 2i3 for principal and premium.
Nearly S7i, 0O0, 600 OF per cent. bonds,
| and upward OF $50, 100000 of "A per
cents were purchased.
Important changes took place in tho
circulating medium, but of n more fa-
yorable character than the year before.
There was gain of $4,000, 600 in
stock OF gold, an increase OF S43. 600, 0O0
in silver, or con attraction of S26, 0OO, 900 in
the volume of bank notes, resulting in u
not increase Of S32, OOo,OO0 in the aggro-
gate supply.
The money In round mum bers in circu-
lation June 30, 1880, consisted of Sl,5O5,-
0O0L00 in gold and gold certificates,
s4li, 100000 in silver and silver GER
tihcates.
A change having taken place l. he
movement of United States notes, there
was q decline of activity in the issue of
the redemption of gold certificates.
The absorption OF legal tender silver
in circulation in the form of certificates
of deposit has been fully up to tho
means of the treasury for supplying it.
There was also an output of between
two and three millions OF fractional sill
yer dollar coins, which encourages hope
that with good managememert of the
treasury, in course of few years, more
may be relieved of the redundant stock
| OF these coins for some time on hand.
Seventy-three banks we're disc0n-
tinued as depositorie during the year,
and eight new ones designated.
The redemption of banknotes
amounted to nearly $40, 100000, a de-
crease OF upwards of SIS, 900, 0OO COM
TO the lower prices ruling for bonds.
The deposits for tine retirement of
national banknotes amounted to only
Sli, GOO, 0o0.
continued embarrassment has at
tended the work of supplying the
country with paper currency, rom de-
lays aud failures in filling the treasureI's
acquisitions for now notes. He suggests
greater tlexibility might be given to cur
rency if gold certificates of denomina-
tions of So and $40 were issued.
lie urges the necessity OF an appropri-
alton for the transportation OF United
States paper currency to Washington
tor redemption. With trifling addi-
tional outlay the people could be kept
supplied with clean and fresh paper
currency, thus greatly lessenins the
danger OF counterieiting.
The treasurer claims that the salaries
paid to the officers of the treasury are
inadequate, the compensation for the
duties performed being less than that
paid in well managed private institu-
lions, and less than paid in the sub
treasury in New York.