Los Angeles herald., 1890-11-19
Treasurer Huston Makes His
Annual Report.
A Great Increase In Revenues
Over Last Year.
Also Large Increase In Expendi
lures On Account of Pensions.
Important Changes in the Circulatin g
Medium-A Net Increase of $32,-
100000 in Circulation.
Associated Press Dispatches.

Associated Press Dispatches.
WASHINGTON, Nov. 1S.-The annual
report of United States Treasurer Hus-
ton shows that the net ordinary revenues
of the past fiscal year amounted to $40,-
$50, 1882, a sum but twice exceeded in the
history of the government; an increase
over the year before of $16,030,923; of
which $11 ,725, ,19l came from the inter
nal revenue. The ordinary expendi-
lures were $297, 736, 436, an increase of
$15, 739, ,S71 over the year before. The
increase is due to the increase in PEN
sions.
The surplus revenues were $105, ,344 :
496, Of which $40 ,304, ,224 was paid out in
premiums in bonds purchased.
The receipts of the postoffice depart
ment were SCI, ,lO6, ,101, and the expendi-
lures $76, oil 1858, an increase of between
five and six millions on both sides.
The aggregate amount for which the
treasurer was accountable during the
fiscal year was 1881, ia, ,4S2. OF this
he disbursed $3.50, ,247 ,07S on warrants
Deducting the amounts on deposit with
states and various other sums. the
amount remaining for which he was ac-
countable, was $757 ,915,07S.
The amount of gold in the treasury in
creased during the year from $3O3 1897, :
719 to 1920, 1888, 145; and silver
from 1915, 0,779 to $346, ,S21. .0O6.
Exclusive of the amounts on deposit
there was in the treasury belonging to
the government on June 80, 1889, 1926
OPS, 1927 and June 80, 1890, 1886, ,3S4 ,S15,
the amount of gold having increased
about four millions, while silver de-
creased nearly nine millions.
The liabilities decreased during the
year from $l27, 1881 $3.50 to $107, ,124, us,
and the reserve, being in excess of assets
over liabilities, ran down from $198, ,O97,-
047 to $l79, $780, ,097.
The total obligations of the treasury
on all accounts were $3.50, ,678, ,475, on
June 30 1889, and 81, ,722, ,24O, 1853 on June
80, 1890. Not counting certificates of
deposit, the debt proper, in the shape of
bonds and circulating notes, was re-
duced from 81 ,250, ,O43, 1856, to 81, 49,
400,986. This was effected at total
cost of $124, 952, ,243 for principal and
premiums. Nearly $4,000, 900 of four
per cent. bonds and upwards Of $50, ,OOO,-
600 of four and one-half per cent. were
purchased.
Important changes took place in the
circulating medium, but of more ia
vorable character than the year before.
There was gain of $15,O00,0O0 in the
stock OF gold; an increase of $4,000 900
in silver; contraction of $26, 5000, 900 in
the volume of bank notes, resulting
in a net increase of $32,OO0,0OO in
the aggregate supply of money. In round
numbers the circulation on June 80,
1890, consisted of $5O5, 1000, 600 of gold,
and $414 100, 900 of silver and silver GER
tificates.
A change has taken place in the
movement of United States notes.
There was a decline of activity in the
issue and redemption of & ii certificates.
The absorption OF legal tender silver
into the circulation. in the form OF GER
tificates of deposit, has been fully up to
the means of the treasury for supplying
it. There was also an outflow of be-
tween two and three millions fraction al
silver dollar coins, which encourages the
hope that with good management the
treasury, in the course OF few years
more, may be relieved OF it's redundant
stock of these coins for some time on
hand.
Seventy-three banks were discontin-
ued as repositories during the year.
Deposits for the retirement of national
bank notes amounted to only $11 900, ,000
Continued embarrassment has at
tended the work of supplying the coun-
try with paper currency from delays and
failure in filling the treasurer's requisi-
tion for new notes. He suggests that
greater flexibility might be given to the
currency, if gold certificates of denom-
nations of five and ten dollars be issued.
He urges the necessity of an appropria-
tion for the transportation of United
States paper currency to Washington
for redemption. With a trihing addi-
tional outlay, the country could be kept
supplied with clean and fresh paper cur
rency, thus greatly lessening the danger
OF counterfeiting.
The treasurer claims that the salaries
paid to the officers OF the treasury are
inadequate compensation for the duties
performed, being less than paid in we'll
managed private institutions, and less
than paid in the sub-treasury at New
| York