The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-19
STATE OF THE TREASURY.
TREASURER HUSTON SUBMITS HIS
REPORT.

TWICE Al Inc HISTORY OF bne GONtTH
ment-An Increase of S3o,ooo,ooc
in the Supply of Money.
WASHINGTON, Nov. is. - Treasurer of
the United States Huston has submitted tc
Secretary Window his report on the opera
tions ard condition of the treasury for the
fiscal year ended June so. The net ordinary
revenues amounted to sos, 0S0, 9S2, a sum
but twice exceeded in the history of the
government. The increase over the
year before was $4,000, 1923, OF
which 81, RS, 1871 came from
internal revenue The ordinary expend-
lures were s297, 736, 4S6, an increase of SIS,
739, o7l over those OF q year ago. The growth
OF the revenues was therefore a little
greater than that of the expenditures, and
there would have been falling off in the
latter but Tor the increase in pensions. The
which 500. SO4, pa was paid out in premiums
on bonds purchased.
The PoSTOFFICE DEPARTMENT.
According TO the warrants, thu receipts
Of the postoffice department we're SOL, 106.-
041, and the expenditures SCI. OH. 263. an
increase of between s., 200, 900 and Sc 0OO,
Coo on both sides.
The amount OF gold in the treasury in
creased during tie year from S303,3S7, 7l9
to 1929, 9S33. 145, and silver from S3l5, 100 779
to S346, SCI COG. Exclusive of the amounts
on deposit, there was in the treasury be-
longing to the government, on June
80, 1889, 1926 OPS, 1927, and on June 80.
1890, S2S6, 3S4, Sis, the amount of gold
having increased about $4,000, 900, while
the silver decreased nearly 100000 Tue
liabilities decreased during the year from
$127, 93I, $50 to S107, l24, us. and the re-
serve, being excess of assets over Liabilities,
ran down from Sl9S, 097, 047 to $l79, 260, 097.
TIE DEBT STATEMENT.
The difficulties in the way of making
plain statement of the liabilities of the
treasury and of the public debt are pointed
out, and the changes recently made in the
debt statement explained The total obi
cations of the treasury on all accounts
were $3.50 67S.475 on June 80, 1889, and
81, 722, 240, 163 on June 80, 1890. The
debt less the cash in the treasury was
$1,000. 034 Cos, on the former date, and
1854, S25 0S4 on the latter. Not counting
certificates of deposit. the deot proper, in
the shape of bonds and circulating notes,
was reduced from 81 $50, 043, 036 to 81, 49,
400 $50. This was effected a. total cost Of
1924, 95S. 243 for the principal AID premiums.
Nearly Si4. 100000 of per cert. bonds and
upward Of SS0,0000OO Of AZ per cents.
were purchased.
THE CIRCULATING MEDIUM.
Important changes took place in the cir
culating medium, but they were of a more
favorable character than those of the year
before. There Yves gain Of SIS, 100000 in
the stock of gold, an increase of S43, U00, 900
in that Of silver, and a contraction of
$26 100000 in the volume of bank notes,
resulting in e net increase of S32 00o, 900 in
&k Ixz IF 81
stock, including certificates of deposit
as well as gold, silver aed
notes held in the treasury for
their redemption is estimated to have in
creased from 50 099. $685. us to 81. no. l07. 976,
and the actual circulation, beng stock lass
the amount in the treasury, from 81 1884,
55l ,SS5 to 81, 443, 0S3.6 1S. In round mum.
bers the circulation on June SO, 1890, con-
sisted of 500. 900 900 OF gold and gold GER
tifcates, STA, 10000 If silver and silver
certificates, and 1928. 900 of United
States aud national bank notes.
MOVEMENT OF NOTES.
Not much change has taken place in the
movement of United States notes. There
was a decline OF activity in the issue and
redemption Of gold certificates, with new
increase of only S3.500,00 in the amount
outstanding. The landings were mostly
of large denominations, which are used in
Tue CDllSCtlOl Oh CusGOUb anu Ln6 b6Clle-
ynent Of clearing house balances in New
York
The absorption of legal tender silver into
the circu lation in the form of certificates
Of deposits, has been fully up to the means
OF the treasury for supplying it,
Fresh issues of certificates took
mp the years coinage of stand
ard silver dollars and three millions more.
There was also an outflow of between g.
md Of Sslu
coins, which encourages the hope that, with
good management, the treasury in the
course of three years more may be relieved
of the redundant stock of these coins for
some time on hand.
BONDS ON DEPOSIT.
There was a decrease OF less than $780,
0D0 in the bonds held on deposit to secure
national bank circulation. Seventy three
banks were discontinued as depositaries and
eight new ones were designated. The re-
demptions of bank notes amounted to near
~ $40, COO, 000,a decrease of upward of S1S.-
100000 as compared with the year before.
Owing chiefly to the lower prices ruling for
bonds, the deposits for the retirement of
national bank notes amounted to only SILL
100000.
The treasurer suggests that, 'as he is a
bonded officer, he should be allowed to
select his own force of clerks without the
that law might govern as regards dis
missals.
PRINTING OF THE CURRENCY.
Continued embarrassment has attended
the work Of supplying the country with
paper currency, from delays and failures in
filing the treasurers acquisitions for new
notes He argues that it is puerile TO allow
so small difficulty as the printing of a few
Thousand sheets Of paper to become an
obstacles in the discharge of public bust
ness and an annoyance to the people in their
money matters. He suggests that greater
hexibiity might be given co the cur ency if
gold certificates of denominations of IS and
$40 were issued.
HOW WE CAN HAVE CLEAN MONEY.
He also urges the necessity of an appro-
prlation for the transportation of United
States paper currency to Washington for
redemption. pointing out that SINGS 1888,
when the appropriation was stopped, most
ct the worn notes have found their
way to the sub-treasuries, where they
have been sorted out and for
warded to the treasury. the expense
BENG charged to another appropriation.
With perhaps a trlfing additional outlay
the people could be kept supplied, free of
cost to them, with good, clean and fresh
paper currency, thus greatly lesseniug the
danger OF counterfeiting.
PLEA FOR HIGHER SALARIES.