Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-12-08

The Report of the Secretary of Treasury
Says So.

WASHINGTON, Dec. T. Secretary
Foster of the treasury department., In
his annual report of the financial oper-
ations Of the government, estimates
the revenues for the present fiscal year
ending June 80. 1898, At $463. 1886, 1850. "A.
The expenditures for the same
period is estimated at $461 1886 1850. Al; ;
leaving surplus of $2,000.0O0.
The following il submitted ~ the
probable condition of the treasury at
the close Of the present fiscal year,
June 80, 1898: Total amount avail
able. $l3l, 49,, ,377 .03; redemption, SlO,-
0OO, 600; balances. $i2O, ,l92, ,37703.
1t is estimated that tho revenues of
the government for the fiscal year
1894 will be $3.50, 12l ,365.3S.
The estimates of appropriations re-
quired for the same period arc submit
ted by the several executive depart
ments and offices amount to $457 ,261,- ;
1858. Other amounts are added to
this which reduce the surplus to $47,-
S52, ,407 .0S. The estimated receipts are
based upon conditions prevailing prior
to the late election. Secretary Foster
recommends the unconditional repeal
of the sinking fund laws. One of the
embarrassment to the treasury, in the
opinion OF the secretary, is the inabil-
ity, with the limited amount OF cash on
hand above the 500, ,000, 900 reserve, to
keep up q sufficient gold supply.
The number of public bank deposi-
tories on November l. 1892, was 1853.
ami the amount of public moneys held
by them on that date, including those
TO the credit of the treasurer's general
account and United States disbursing
officers, was $l5, 1862, ,4i4.Sl, . reduction
since November l, 1891, In number OF
repositories of twenty four, and IN
amount Of holdings 81 ,5l5, ,6ss.s7. Since
March 1, 1859, there have been pur-
chased aud cancelled United states
bonds of the face value Of S233, 120, $50,
Tor which there was expended the sum
of $l70.952 ,45l.20. OF the bonds go
purchased sl2l ,6l5. $50 were per cents
and sll2 ,ll3,200 Al Ter cents. The ex-
pendt,re was So, ,352, 1881 less than
the sum which would be required to
redeem the bonds and pay interest
thereon to the date Of their maturity.
During the came period there were re-
deemed at par $25. .5o4. 200 A per cent
bonds, and further amount of <25,-
364 500 of the same loan has been con-
tInued during the pleasure If the gov
eminent 70 bear interest at the rate of
2 per cent per annum. The annual in
terest charged March /, 1889, Was S34.-
51s. 459. so; II - now S22, 1873 $50. so.
The volume OF clrcu alton has IN
creased from 81 ,5sf. sa2, ,l6l on Novem-
ber |, 1891. to ST ,606. i3g, 735 on Novem.
Der ]. 1892. 1he value of the gold de-
posted at the niints ahd assav Offices
during the fiscsl year, 1892. was SOS
41s.s75.9s, of which Sol .l3l. 469 04 were
original deposits and 6, ,345, ,5i5.94 we're
fedepossts. OF the orlglnat deposits.
s3i ,s6l sis. II were the product of our
own mlnes; s24 .975. .Sf2.3s foreign gold
corn aud bullion; 557 ,e67 So light welgnt
domestic gold CONS. and s., $685.
e0S 50 Old material. The de-
po.ts and purchases of silver az
gregsted -, ,12I 28s.03 standard
ounces. of the coinlng value OF ss3,-
~, es9.ol. inciuding $40. fol. ls standard
ounces. of the coming value OF s545,-
zeS % redeposts. OF the silver re-
ceived s6s, ss0 .6Ss Is standard ounces,
Of the coming value of sT3. .46I ora 0s,
were the product Of our own mines;
2,lls.0s5.s9 standard ounces, Of TIE