Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1890-11-19
WHEELING, MORNING, NOVEMBER 49,
NATIONAL FINANCES.
The Condition of the United States Treas
ury-The Treasurers's Report.

WASHINGTON, November 1s.-The
Treasurer of the United States, Hon.
James \. Huston, has submitted to
Secretary Window the report on the
operations and conditions Of the Treas
ury for the fiscal year ended June 30.
The net ordinary revenues amounted to
S4O3, ,OsO, ,9s2, a sum but twice exceeded
in the history of the government. The
increase over the year before was Sl6,-
03O, 923. The ordinary expenditures were
S297, 736, 436, an increase OF Sl5,739,s7l
over those of the year before. The
growth of the revenue was therefore a
little greater than that Of the eXpendi-
lures, and there would have been a
falling of in the latter but for the in
crease in pensions. The surplus rev.
enues were sos, ,344, 496, OF which S20,-
3O4, ,224 was paid out in premiums on
bonds purchased. According to the
warrants the receipts of the Postoflice
Department were Sol, ,130, 14l, and the
expenditures S67, ,265, an increase
of between S., ZOO. 900 and S6,000,0 900 on
both sides.
At the close of business on June 30,
1889, there stood charged to the Treas
urer S673. 800, lis. To this were added
the receipts of the year from the rev.
enues and on account OF the public
debt, amounting in all to SG4s, 375, 1863,
so that the aggregate, for which he was
accountable during the year was ST.
3.774, 1872. or this he disbursed $780,
247,O7s on warrants of the Department,
leaving S691, ,527, 403 in his charge on
June 30, 1890. The true amount FOR
which he was accountable on June 30,
1889, was S760, ,643,s7l, and S757, ,9l5,01s
a year later. The amount OF gold in
the Treasury increased during the year
from 1903, 3S7, ,719 to $500, 933, 14j, and
the silver from 1915, 5,160,779 to $780,
sci ,006.
Exclusive of amounts on deposit
there was in the Treasury belonging to
the government on June 80, 1889, S326,
O2s. .027, and on June 80, 1890, S2S6, 1884,
SIS. The liabilities decreased during
the year from Sl27, ,93l, $50 to Sl07, 1884,
us, and the reserve, being the excess
Of assets over liabilities, ran down from
SOS, ,O97, ,O47 to S179, 2G0,O97. The total
obligations of the Treasury on all ac-
counts were 81, 1,Sl0,67S, ,475 on June 80,
1889, and S1,722 ,240, 1G3 on June 30,
1890. The debt proper in the shape Of
bonds and circulating notes, was re-
duced from 81, ,250,0i3, 1856 to 81, l45, 400,
9sG. Nearly S74, 900, 900 of 4 per cent.
bonds and upwards of $50, 900, 600 OF ~
per cents. were purchased.
There was gain of SIS, 5,0O0,OOO in the
stock of gold, an increase OF S43,0OO,O 900
in that of silver, and a contraction OF
S26, 900, 900 in the volume Of bank notes,
resulting in net increase OF S32, 900, 200
in the aggregate supply of money.
In round numbers the circulation on
June 30. 1890, consisted Of sos, 900, ,000
of gold and silver certificates, S4l4,-
OO0 OOD OF silver and silver certificates,
and S52sOOO, 900 of United States and
national bank notes. The Treasurer
explained with care the effect which
the operations of the Treasury have
upon the circulating medium; how the
stock in the country is ascertained, and
how the amounts of the several kinds
of currency in the hands or control ol
the people are arrived at. Not much
change has taken place in Tho
movement of the United States notes.
There was a decline OF activity II
the issue and redemption OF gold certl
y ficates, with an increase OF only three
and one-half millions in the amoun
standing. The fresh issues OF Ger
tificates was up to the years coinage o
standard silver dollars and three mil
lions more. There was also an outflow
of between two and three millions o
fractional silver coins, which en-
courages the hope that with good man
agement the Treasury in the course OF ;
few years more may be relieved OF th'
redundant stock OF these coins for SOM
time on hand.
Counterfeit notes representing an ag
gregate value of Ss, 40 were presented a
the office, and increase of $1,000 owe
over the year before. There were rejected
3,s46 spurious silver coins, OF which TIT
greater part we're dollars. There vas
decrease of less than $4,000 in the bond
held OH deposit to secure National banl
circulation. Seventy-three banks wer'
discontinued as repositories and cigh
new ones were designated. The re
demption of bank notes amounted Il
nearly seventy millions, decrease o
upwards of eighteen millions. Owint
,, chiefly to the lower prices ruling To-
bonds the deposits for the retiremen
National bank notes to only sli, 900, 600
The total amount of money received
,, in these deposits, to the 25th of Jul!
last, was nearly 479,000,0O0, of which
s4O4 900, 600 was paid out in redemption
of notes, and upwards of $50, 900, OO0wa
refunded or transferred. The balance
on hand, amounting to Sj4,3ss,4 ,475, wa
deposited in the Treasury by Treas
urer's check.
The whole number employed in th'
whole Treasury system is 515, at al
average cost Of 81 400 for salaries. Th'
Bank of England, whose busi
ness is almost exactly the same as tina
of the Treasury, with the addition o
one of private deposit and discount, EN-
ployed /, 100 persons, at an average cost
of 81 ,44O. In conclusion the Treasurer
makes several minor suggestions in re-
s...J 90 ,otoc nd nffipn f0rcp