The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1891-12-12
OUR FINANCES.
Sixty Eight Million Reduction in
the Surplus.
Transactions of the Treasury for the
Past Fiscal Year.
One Hundred and Twonty-scven Millions
Debt Roduction-seventy-F Mill
ions Increase of Money Ciroula-
tIon-Per Capita Circulation.

tlOn-Per Capita Circulation.
WARRINGTON, Dec. 9.-The treasurer
Of the United States, Mr.. E. II. Nebe-
ker, has submitted his annual report to
Secretary Foster
The revenues of the government for
the past fiscal year were S333, 612, 447 81,
or $40, 46s, 535. 80 less thhn those OF the
year before. The net ordinary oxpen-
ditures, exclusive of the amounts paid
in premium on bonds purchased, were
1856, 372, ,6s4.74 an increase of $57, $780,
1854 The surplus revenues were thus
cut down from S105, 344, 496 03 to $37,-
$50, 762 81, which last summer was APP
piled to the reduction Of the public
debt. The postal revenues amounted
to S65, 762 90s 55 and the expenditures
to S72, ,067, $50 65, an increase of about
FIVE millions on both sides.
The reduction effected during the
year in the principal of the bonded
debt and the circulating notes which
can not be re-issued amounted to S116,-
500, 273 So and required an expenditure
of $126 991, 494 4s, including the pre-
miums on bonds purchased THIS sum
was made up by taking $50, T51, ,73l 81
from the reserve in the treasury, in adj
dition to the surplus revenues of the
year The consequent reduction in
annual interest charge was 81. 322, 092 35.
According to the revised figures, the
amount of money in the country on the
80th OF June, exclusive of certificates in
circulation for which tho treasury held
deposits, was 81, 6T6 O7S, 1O2. of which
q,
and 81, ,495, 660, os3 was in circulation.
There was net loss OF $40, 900, 900 of
gold. net gain of upward of $40, ooo,-
600 of other money, and a consequent
contraction of about 80, 900, 900 in the
whole volume.
The treasurer computes that during
the past ten years there has been an
average increase of S52 002, 900, from
the end of June to the end of Deoem-
Der, in the amount of money actually in
circulation, followed by an average
decrease of Sl4, 200, 600 from the end OF
December TO the end of June. The in
crease realized in the past year has
been nearly double this average
of $Ss, 900, 600, and the last two years
the average has been exceeded by
$43, 600. 900. Usually large amounts of
notes of small denominations have been
sent out to the West and South since the
1st of July, chiefly for deposits in the
sub-treasury in New York. The aggre-
gate mp to the middle of November
reached upwards of SAG, 900, 600, as
against Sol 600, 600 for the whole pre-
ceding year The preparations for
these shipments were made under the
personal direction of the secretary, and
the result has been not less beneficial
to the country than gratifying to the
treasury officials A recommendation
in former report that an appropria-
tien be made for the transportation of
worn U. S. paper currency to Washing
ton for redemption is renewed.
A measurable improvement in the
condition of the coinage, particularly
the silver, has been effected, nearly ST.
900, 900 of uncurrent coins in the treas
ury having been restored to full weight.
AS the result of this and of some special
efforts in other directions, the amount
of fractional silver in the treasury has
been much reduced. Many of the inquir-
les for silver specify new coins. 1t is be-
lieved that but for the prejudice against
all coins showing any signs of wear the
treasury, would long since have been
relieved of good portion of ITS load of
fractional silver. The treasurer points
out that this prejudice in the case of
the silver coins is altogether groundless,
since they derive their currency, not
from their weight, but from the stamp
of the mint, and are received at the
treasury for full value SO long as the
stamp can be recognized, no matter
how light they may be, provided only
that the loss of metal be due to natural
wear and not to willful mutilation.
Counterfeit silver coins, U. s. notes,
silver certificates, national bank notes
and fractional currency, of the nominal
face value of nearly 50, 900, were de-
tected at the treasury office, consider
able decrease from the year before,
which shows, presumably, corre-
spending improvement in the condition
of the currency. Three new counter
feits have appeared, all Photographic.
There was decrease of about So
900, 900 in the amount of bonds held for
national banks as security for their
circulation, as also in the amount
held as security for pubic deposits.
Nearly $e7, OOO, 600 of national bank
notes were redeemed an amount
much above the average, if the contrac-
tion of this circulation be considered.
The fresh deposits for the withdrawal
of notes from circulation amounted to
nearly $40, 600, 600, while the redemp.
tions from the fund arising from this
source exceeded $25, 900, OO0 BY antic-
ipating the maturity of the four-and-a-
half-per cent bonds, and by accepting
the secretary's offer of extension, the
banks avoided any considerable con.
traction of their circulation; in fact
the deposits of the new two-per-cents.
exceeded the Withdrawals of the old
bonds, and there was an issue of new
notes amounting to about 81, O00
FIVE OF A FAMILY
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