The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-12-03
FORTY MILLIONS SHORT.
Thanks to the Extravaganza Of Mr..
Car Reeds Billion Dollar
Congress.
Receipts of the Government Do
Not Begin to Equal Elk
penditures.
The Annual Report of tho Treasurer Of tho
United stntes--some Figures
Wortl, Studying.

WABHlNGToN. Dec. 2.--United States
Treasurer Nebeker has submitted his an
nual report to Secretary Foster. The ordi-
nary revenues OF the government the past
fiscal year were 1902, ,412,447, Or B10, ,46s, ,535
less than the year before; net ordinary OK
penditures exclusive of amounts paid in
premium on bonds purchased, S355,372, G84,
an inoreaso Of $b7G3G, 19s The surplus
revenues were thus cnt down from $l05,
344 ,496 to S37, ,339, 7G2. which, last summer,
was applied to the reduction Of the public
debt. The postal revenues amounted to
$G5. 7G2, ,908, and expenditures TO ;s72 067 $50,
an increase of about s5,C00,OD0 on both
sides Reduction effected during the year
in the principal Of the bonded debt and
circulating notes which cannot be re-issusd
amounted to $11G,b9O, 273, and required the
expenditure OF $126, ,99l, 1884, including pre-
miums on bonds purchased. This sun, Was
made up by taking $s9, ,751,73l from the re-
serve in the treasury in addition to the
surplus revenues Of the year. The conse-
quent reduction in the annual interest
charged was $4,322, ,092. According to re-
vised figures the amount Of money in the
country June 80, exclusive of certificates in
circulation, for which the treasury held de-
posits, was S1G76, ,O78, 102, Of which $780,
412,019 belonged to the treasury and $780,
6GG, ,O83 was in circulation. There was Il
net loss of S49,00o,0OO of gold, and net
gain Of upwards of $40,O00,0o0 in other
money, and consequent contraction of
about SO. 100000 in the whole volume.
The treasurer computes that during the
past ten years there has beon an average
increase Of &52, 100000, tom tho end of
June to the end of December in tho amount
Of money actually in circulation, followed
by an average decrease of $14,200,00o from
the end Of December to tho end OF June.
The increase realized in the past year has
been nearly double this average of $38, ,0O0,-
600, and in ths last two the average has
been exceeded by $43,00o,00o. Unusually
large amounts Of notes Of small denomina-
tions have been sent out to the vest and
south since the first OF July, chiefly for de-
posits III tho cab treasury in New York.
The aggregate, up to the lnidaSAsf Novem-
ber, reached upward of SEaa6o00O, as
ngainst S6l 900 900 for the whole Of the pre-
ceding year. There has been measurable
Improvement in the condition of coinage.
Particularly has silver been affected, nearly
ury having been restored to full weight.
Al a result of this, and some special efforts
in other directions, the amount Of ftac-
tional silver in the treasury has been much
reduced. Many inquiries for silver specify
now coins. 1t IS believed that but for the
prejudice against all coins showing any
signs of wear, the treasury would long since
haye been relieved Of 4 good portion of lts
load Of fractional silver.
Tho treasurer points out that this pteju-
dice in the case Of silver coins, is altogether
groundlegs, since they derive their currency,
not from weight, but from the stamp OF
tho mint, ana are received at tho TREASURY
for full value as long as the stamp can be
recognized. provided the loss of metal is
due to natural wear. Nearly S67,0O0,000 in
national bank notes wsre redeemed, an
amount much above the average. Deposits
Of new two per cents exceeded tho with
drawals OF old bonds and there was an
issue Of new notes amounting to about ST.
500, 900. IT,.