, 1890-11-19
TREASURY STATEMENT.
Treasurer Huston Makes His
Annual Report.
Receipts for the Past Year Elk
ceeded but Twice.
Increase of Expenditures Due
to Pensions.
Statement.

WASHINGTON. Nov. lS.-The annual
report of United States Treasurer Huston
shows the net ordinary revenues for the
past fiscal year amounted to s40S, 0s0, 9S2,
a sum but twise exceeded IN the history of
the government. The increase over the
year before was $40, O3O, 923. of which
$ll, 725, 1871 came from internal revenue.
The ordinary expenditures we're S297,-
1876, 436, an increase of $l5, 1887 over
the year before. This increase was prin-
cipallY due to the increase in pensions.
The surplus revenues were $l03, 344, 1876,
of which $50, 3O4, 224 was paid out in pre-
NUNS on bonds purchased.
The receipts of the postofice depart
ment were sol, LOG, 04l, and expenditures
$67, oil ,293, an increase of between So,
O0O, 600 and Sc. 00O. 900, on both sides.
The aggregate amount for which the
treasurer was accountable during the lis
cal year was 81, 32l, 7T4,4S2. OF this he
discussed 5000. DAT .075 on warrants. De-
Quoting the amounts on deposit with
states and various other sums the amount
remaining for which he was accountable
was $751;. 9l5.07S.
The amount of gold in the treasury in
creased during the year from 1908, 3S7.-
7l9 to 1920, 933, las, and silver from
$3l5, l60, 799 to 1916, S2l COG. Exclusive
of mounts on deposit there was in the
treasury belonging to the government on
june 80, 1889, $326. OBS, 927, and on JuLe
80, 1890, $3.50, 1854. SIS, TIE amount OF
gold having increased about $4,000, 900
while silver decreased nearly 80 OO. 900.
Liabilities decreased during the year
from 1921, 93l, $50 to SI0T, l24, 7lS. The
total obligations of the treasury on all
accounts were 81 ,SlO,6T AIS on June
30, 1856, and 81, 722, 24O, 1913 on June 30,
1890, not counting the certificates of de-
post. The debt proper, in the shape OF
bonds and circulating notes, was reduced
from $3.50. 043;l36 to $I,I45. 400 CSC,
This wa effected at a total cost of SPA
952, 243 for principal and pfemiums.
Nearly $4,000. 900 of the 4 per cent.
bondsand upwards of $50. OOO, 900 Of the
AZ per cents were purchased.
Important changes took place in the
circulating medium, but Of a more favor
able character than the year before.
There was a gain OF SIS. 900. 900 In the
stock of gold, an increase of $43, 600, 900
in silver and a contraction of 500. 900. 900
III AhC NOihuuN 1 bduh uOAtss ItSulliuk III
a net increase of $32, 600, 600 in the ag-
gregate supply money.
In round numbers, the circulation on
June 30, 1890, consisted of $505. 900. 010
OF gold and gold certificates; $4l4, 00J. 900
of silver and silver certificates.
A change has taken place in the move
ment in United States notes. There was
a decline OF activity in the issue and re-
.demption of gold certificates. The alb
sorption OF legal tender silver into circu-
latiOn, in the form of certificates of de-
post, has been fully up to the means Of
the treasury for supplying it. There was
also an outflow of between two and three
millions of fractional silver dollar coins.
which encouraged the hope that with
good management the treasury IN the
course Of a few years more may be re-
relieved of the abundant stock of these
coins for some time on hand.
Seventy-three banks were discontinued
as depositaries during the year.
Owing chiefly to the lower prices ruling
for bonds the deposits tor the retirement
of national bank notes amounted to only
81 100000.
Continued embarrassment has attended
the work Of supplying the country with
paper currency from the delays and fail
ures in filling the treasurer acquisitions
for new notes. He suggests that greater
flexibility might be given to the currency
If gold certificates Of the denominations of
So and $40 be issued. He urges the
necessity OF an appropriation for the
transportation of United States paper
currency to Washington for redemption.
With a trifling additional outlay the peo-
pie could be kept supplied with clean and
fresh paper currency. thus grea tly lessen
ing the danger of counterfeiting.
The treasurer claims the salaries paid to
the officers of the treasury are inadequate
compensation for the duties performed,
being less than paid in well managed
private institutions and less even than
paid in the sub treasury In New York.