Omaha daily bee., 1891-12-11
TIE TREASURY REPORT.

80
The annual report of the secretary Of
the treasury shows that Tor the fiscal
year ended June 80, 1891, the receipts
of the government exceeded he expen-
ditures to the amount of a little over
$37 900, 900. There was q falling off in
the receipts as compared with the pre-
vious year of over S., 000, 900. while the
increase in ordinary expenditures
exceeded $57 600, 600. For the cur
rent fiscal year the secretary
estimates an excess or receipts
over expenditures of $2i, 900, 900,
and a statement Of the probable condi-
ton of the treasury at the close Of the
year, June 80, 1892, shows an available
cash balance of over Sl39, 600, 600. These
figures attest that the national treasury
is still far from being bankrupt. Fol-
the fiscal year 1893, which is looking far
enough ahead for all practical purposes,
it is estimated that there will be u sur
plus of $l4, DOC, 900. Manifestly there is
no reason to apprehend that for the
next two year at least the treasury
will be unable to take care of
all ordinary demands upon it, and in the
light of the figures now presented it is
not easy to understand why there should
aver have been any doubt OF it's ability
to do this. The facts completely refute
the democratic charge during the late
political campaign that the government
was practically bankrupt.
Regarding the much discussed ques-
tion Of circulation, the report shows
hat there has been a steady in
crease, On July l, 1891, the Cir
culation Was $1,497, 440, 707 and
the amoun per capita S23.41. On De-
cember l, the population being stated
at "a, $50, 900, the per capita of c%ircula-
tion was 1874 3S. Since July l last the
volume of currency has been increased
nearly $50, 000, 900, which has certainly
kept pace with the growth of popula-
tion and business. The stock OF gold
and silver in the United States on No
vember l of the present year is stated
to have peer 81, 210, 600, 900, of which
$671, 000, 900 was gold and $3.50, 900, 900
silver. The coming value of the gold
produced in the United States during
the calendar year 1890 was 1872, 845, 600
and of silver So ,464, 645.
There was an increase in the foreign
commerce of the country doring the last
fiscal year of over $50, 900, 900, and more
recent statistics than those embraced in
the treasury report make a much better
showing than this, the exports daring
the last five months having been
very heavy. The advantages to be
expected from reciprocity are suggested
by the fact that during the six months
ended September 30, 1891, our exports
of merchandise to Brazil exceeded in
value those of the corresponding period
of tho previous year $l,307, 900, Owing
to the late date at which other reci-
procity arrangements went into effect,
there are no available statistics to show
their effect upon our commerce.. The
report presents an instr uctive table,
showing tho losses of shipping in
the foreign trade, from which it
appears that in 1858 over 70 per cent of
our maritime exports and imports was
carried in American vessels, while in
1891 the amount carried was less han 10
per cent. The secretary of tie treasury
justly observes that no words can add to
the force of the figures, and he makes
another observation in connection with
this subject that Is worthy of con-
sideration, namely, hat our annual GUS
toms receipts scarcely exceed the money
paid annually to the owners of foreign
vessels for the ocean transportation of
our " people and merchandise, most
of which large sum of about SEQ, 000, 600
would be paid to our OWN vessel owners