Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1891-12-09
OUR FINANCES.
Sixty-Eight Million Reduction in
the Surplus.
Transactions Of the Treasury for the
Past Fiscal Year.
Ono Hundred and rwenty-s~v~n Millions
Debt Reduetioo-s.~~nty-ft Niii-
Ions Increase OF Money Circuis-
tiou-Per Capita Circulation.

tion-Per Capt.. Circulation
WASHINGTON. Dee. a-The treasurer
of the United States. Mr.. r. II <cbc-
ker. has submitted his annual report to
Secretary Foster.
The revenues of the government for
| the past fiscal year were s3o2. Ga. ss7 81.
| or SO. 4Gs. 535. 80 less than those 90 the
year before. The net ordinary expen-
diturcs, exclusive Of the amounts paid
in premium on bonds purchased. werc
1855. 372. 6s4.74. an increase of $50. 036.-
1854 The surplus revenues were thus
cut down from Sos. 3s4. s96. OF 10 $751;
$50. TG2. 81. which last summer was ap-
piled To the reduction of the public
debt The postal revenues amounted
To sos, T62. Dos 55. and the expenditures
| to S72, 067. $50 50. an increa se OF about
five millions on both sides.
The reduction effected during the
year in tho principal OF the bonded
debt and the circulating notes which
can not be re-issued amounted TO sil6.-
500. 273 50. and required an expenditure
of. si2o. 99i.494 As. including the pre-
miums on bonds purchased This sum
was made mp by taking $50. 75i. 73i OF
from the reserve in the treasury, In nd
dition to the surplus revenues OF tho
year The consequent reduction In
annual interest charge was a. sea O9e rs
According to the revised figures the
amount of money in the country on tho
30th of June, exclusive of certificates i'm
circulation for which the treasury held
deposits, was S1.6T0. O7s. 100. of which
SiS0,4l2,0l0 belonged 10 the treasury
and 81. 495, COG. 0S3 was in circulation.
There was net loss of $40. 900. 600 OF
gold, net gain of upward of $40. OOO.-
o0o OF other money, and n consequent
contraction of about So 0o0, 900 in the
whole volume
The treasurer computes that during
the past ten years there has been an
average increase of $50. 003, 900, from
the end OF June TO the end of Deem
Der, in the amount of money actually in
circulation, followed by an average
| decrease of $500 900 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 S3s, 900, 900, and tho last two years
the average has been exceeded by
S43, 00O 000 Usually large amounts of
notes OF small denominations have been
sent out to the West and South since the
LIST of July, chiefly for deposits in tho
sub-treasury in New York The aggre-
gate up TO the middle of November
reached upwards of $40, 900, 600, rs
against SCI, O0o, 900 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-
ton 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.
600, 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 It's load of
fractional silver. The treasurer points
out that this prejudice In the case of
|
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
now 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. :. notes.
|
and fractional currency. of the nominal
face value of nearly so 600, were de-
tected at the treasury Office, IA consider
able decrease from the year before
which shows, presumably, n corre-
spending Improvement in the condition
of the currency. Three new counter
feits have appeared. all Photographic.
There was q decrease OF about So
600, 900 in the amount of bonds held for
national banks as security for their
circulation, as also in the amount
held US security for public deposits.
Nearly s67. 600. 600 of national bank
notes were redeemed an amount
much above the average, il the contrac-
ton OF this circulation be considered.
The fresh deposits for the withdrawal
of notes from circulation amounted to
nearly SO 600, OOO while the redemp-
tions from the fund arising from this
source exceeded SIS, 900. 600 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, 500, 600.
FIVE OF A FAMILY