St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-28
Such the Showing Made by
Hon. E. Fl. Nebekep, United
States Treasurer.
The Surplus Revenues Of the
Government Now Less
Than $1O,OOO,O00.
More Than Forty-TWo Million
Dollars Increase in the
Public Debt
Bad Republican FinaneiePing
CLOSED Over by a Harri-
son Appointee.

NAODSNA ~ W. Ny - 1900
son Appointee.
WASHINGTON, Nov. 27.-The treas
ucer Of the United States, Hon. E. II.
Nebeker. has submitted to Secretary
Charles Foster the annual report ON the
operations and condition of the treas
ury. The-net ordinary revenues of the
government for the fiscal year were
S354, 931, 7S4, decrease of 7,674.63 as
compared with the year before, The
net ordinary expenditures were $780,
023,390, a decrease of SlC,349, 354 The
surplus revenues were thus cut down
from S37, 230 rs? to &9,914, 453, including
the public debt. The total receipts for the
year were $736, 4Ol 1853, and the eXpendi-
lures E6S4, Cl9, 2G5. Considered with re-
Spect to the effects upon the treasury,
the receipts are divided into two gen
eral classes, Of which the first. compris-
ing the ordinary revenues. the receipts
from loans and the deposits for the re-
tirement OF national bank notes, in
crease for the time the cash available
for the uses Of the government while
the second, arising from the Issue of
gold, silver and currency certificates,
United States notes and treasury notes,
tend to swell the assets Of the treasury,
but do not affect the available balance.
For the first of these classes the figures
show an Excess
of SSS, 900, 600 Of expenditures over the
n nF avTi,
$27, 600, 600 in 1892. In the second class
there was an excess of nearly $4,000
900 OF receipts in the former year, and
one Of S0,0O0,000 in the latter. AS COM
pared with 1891, there was a saving of
upwards of S14.000.000 of interest, ont
of which surplus was realized. not
withstandlng the cutting down of the
revenues by legislation. On June 80,
1891, there stood charged to the treasury
on the books of the register a balance
of S726, 3D., 1872. Adding thereto the
revenues of the year from all
sources gives a total of $1,4S6,62S.-
G23 to be accounted for. Out0f this was
dlSburSed by warrant 4 total of 1854, 019,-
2S9, leaving balance Of SITS, 604 800
charged to the treasurer on June 30,
1892. In addition there were other liza
bilitles arising from the postal revenues.
bursting officers. from the per cent
fund for the redemption of national
bank notes and from various other
sources. These, together with the sums
OF money collected but not yet charged
to the treasurer on the books of the de-
partment, brought the total liabilities
up to S7I7, S54, 945 at the former date and
to SSl5, 1851, 63S at the latter. In analyz-
ing
The True Condition
of the treasury and setting aside the
trust funds, the treasurer shows that
there was working balance of cash
and deposits in bank amounting to
S2O7. 110,4j at the beginning Of the year
and to Sights, $50 at the end. or the
former amount $4,000, 900 and OF the
latter $l14 100000 was gold. The sue
cess Which has attended the efforts of
the department to maintain strong
gold reserve is considered satisfactory
in view of the heavy disbursements.
The amount of the public debt is given
as 81, 545, 99G. 59l. on June 80, 1891. and
1855, AGA, 144 on June so, 1892. The
loans resting on the credit of the
United States were " cut down
from S1,OO5. S0G.5G0 to $966, 2l8, $40.
while those secured by full deposits in
III e treasury increased from $40, 190,0Sl
to 1920, 245. 304. There was gratifying
improvement in the condition Of the
debt produced by the reduction of the
Understanding loans, the conversion
of matured bonds into others payable at
the option of the secretary Of the treas
ury and the extinction Of a considerable
part of the leans payable on demand.
The total net reduction of S37, 507. 7l9 in
these items was effected by the applica
ton Of the surplus revenues of the year,
amounting to nearly 0,000. 600, together
with upwards OF S27 1000 600 taken from
the cash in the treasury. According to
the
Revised Estimates
the total stock Of money of all kinds in
the country On June 80 was S2374, 334,-
90, an increase Of S50.000.000 in the
year. BY eliminating that part of the
paper currency which is purely repre-
sentative, consisting Of certificates of
deposit and treasury notes, the effective
stock is found to have been $l,753, 953,
745, an increase of $4,000, 900. The mon
etary history Of the past year, however,
has been peculiar, both in the move
ment OF gold, which has increased, aud
in the other changes that commonly
occur with the other changes Of the sea-
son, but have this year been less marked.
The increase of the effective stock of
money from September to September
was only $50,000,0O0. Discussing. the
changes in the amount and composition
Of the money stock. the treasurer finds
that HE increase which marked the lis
cal wear WAS the result of the product of
nearly ST, O0O, 600 in gold in excess of the
industrial consumption, a fresh issue
of s.. OO0. 0U0 of national bank notes, to-
.tnu
stock of silver. OF the aggregate stock
of money at the end of the fiscal year,
S77I, 252, 213 was in the treasury and
minis, leaving 81 SOS, 061, 1856 in the hands
of the people. The holdings of the
treasury Increased S50,0G0,00 and the
amount in circulation S100.000,O00
during the year. Figures arc given to
show that each year during the last ten
there has occurred in the month of
January a more or less considerable
diminution of
The Gold Reserve
of the treasury, averaging nearly S10,-
OOO. GOO. which has been succeeded in
February by tendency toward re-
coyerv. 1t is shown that the choice has
occurred yearly in the face of a gam Of
gold both to the treasury and to the
country. 1t thus appears that the de-
pIetion of the reserve is in consequence
ct the increase of the circulation of gold
certificates, and this. it is shown. grows
out of the difficulties which the treasury
encounters in the return of the notes
and silver certificates of small denomi-
nations which were sent out in
the autumn for moving the
crops. The movement sets in
strongly after the 1st OF January,
through the subtreasuries. whence the
notes, being more or less worn and of
denominations unsuited to city use, are