Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1890-11-19
NATIONAL CAPITAL.
Treasurer HuStOn'S Report and His
Recommendations.
PROGRESSION OF THE NEW NAVY.
The Agricultural Department Rec.
ognizes the Importance of Cali
fornia as a Fruit Country.
SPECIAL DISPATCHES TO THE REcoRD-UNIoN.l
PROGRESSION OF THE NEW NAVY.
ESPECIAL DISPATCHES TO THE REcoRD.UN1oN.l
UNCLE SANS MONEY.
Treasurer Huston's Report tor the Fiscal


1ears
WASHINGTON, November 1Sth.-The an
nual report of United States Treasurer
Huston shows that the net ordinary rev.
enues for the past fiscal year amounted TO
S403, ,0S0 9S2 This sum has been but twice
exceeded il the history of the Govern
ment.
The increase over the year before was
SIG 030, ,923, of which $11, 725, ,191 came from
internal revenue. The ordinary expendi-
lures were S297, 1856, ,436. an increase of S15,-
739 671 over the year before. This increase
is principally due to the increase in PEN
sions. The surplus revenues were S105,-
344 496, of which $50, ,304 224 were paid out
in premiums in bonds purchased.
The receipts of the Postoffice Department
were SCI JOG, 101 and the expenditures S67,-
oil 263, and increase of between S., 900, 900
and Sc, 600 600 on both sides.
The aggregate amount for which the
Treasurer was accountable during the fiscal
year was S1,321, IA, ,4S2 OF this he dis
bursed $500, 247 ,07S on warrants. Deduct
ing the amounts on deposit with States and
various other sums the amount remaining
for which he was accountable was S757,-
91507S. The amount Of gold in the Treas
ury was increased during the year from
1903 3S7 ,719 10 $500, ,933 l45, and silver from
S315, 160, 779 to $346, ,S21, COG. Exclusive OF
amounts on deposit there was in the Treas
ury belonging to the Government on June
so, 1889, 1926, OPS 927 and on June 80, $780,
S2S6, 1884 ,S15, the amount of gold having in
creased about S4000000, while silver de-
creased nearly 100000
Liabilities decreased during the year
from S127 931, $50 to Si07 124, us, and the
reserve, being in excess of the assets over
the liabilities. ran down from Sl9S. .097 047
to S179, ,269, 097.
The total obligations of the Treasury on
all accounts were 81 $40, ,676 AIS on June 80
1889, and 81, ,722, ,240 .163 on June 80, 1890
Not counting certificates of deposit, the
debt proper in the shape of bonds and cir
cuating notes was reduced from 81 $50,
043, ,136 to 81, ,145, 400 9S6. This was effected
at a total cost of Sl24 ,952, ,243 for the princi.
pal and premiums. Nearly $74, 100000 oi
4 per cent. bonds and upwards of S30000,.
900 of Al per cents. were purchased. I'M
portant changes took place in the circulating
medium, but of more favorable charac.
ter than the year before. There was gain
of $15, 900 900 in the stock of gold, an in
crease of S43 100000 in silver, a contraction
of S26 000, 600 in the volume of bank notes
resulting in net increase of S32, ,000, 900 in
the aggregate supply of money.
In round numbers, the circulation on
June so, 1890, consisted of S505 ,000, 900 o.
gold and S414, 10000 Of silver and silver
certificates.
A change having taken place in the
movement of United States notes there
was decline of activity in the issue and
redemption of gold certificates. The ab
sorption of legal tender silver into circula
ton, in the form of certificates of deposit,
has been fully up to the means of the
Treasury for supplying it. There was also
an outflow of between 100000 and g..
100000 of fractional silver dollar coins
which encourage the hope that with good
management the Treasury in course of a
few years more may be relieved of re.
dundant stock of these coins for some time
on hand.
Seventy-three banks were discontinued
as repositories during the year. involving
| S87 900 900, decrease of upwards of S1S,
| 100000, as compared with the year before
owing chiefly to the lower prices ruling fol
bonds. Deposits for the retirement of Ma
| tional Bank notes amounted to only Sl1,
| 900 ,00o.
Continued embarrassment has attended
| the work of supplying TIE country with
paper currency from delays and failures ir
filing the Treasurer's acquisitions for new
notes. He suggests that greater fiexibility
| might be given to currency in gold certifi-
Gates of denominations of IS and S10issued
| He urges the necessity of an appropriation
| for the transportation of United State:
paper currency to Washington for redemp
ton. With trifing additional outlay the
people could be kept supplied with clean
and fresh paper currency, thus greatly
| lessening the danger of counterfeiting.
The Treasurer claims that the salarie;
paid to the officers of the Treasury are in
adequate compensation for the duties per
| formed, being less than paid in well-man
aged private institutions, and less even thar
paid in the Sub-Treasury in New York.