Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-12-07

Masking reduction Of the debt,
less cash in the treasury, of. 1914, 905, SO
Or $500. 5l0. 6s1.49 more than
the requirements Of the sink
ing fund called for.
THE GOLD SUPPLY.
One OF the embarrassments to the treasury,
in the opinion of the Secretary, is the inability,
with the limited amount of cash on hand above
the one-huDdred-m million reserve, to keep up a
sufficient gold supply When the demand
comes for the expectation of gold the treasury
IL called upon to furnish il. IL this demand
should prove to be as large the coming year as
IL has been for the past two years gold in the
treasury would be diminished to or below the
reserve line.
In view Of the increased and increasing liza
bilities the reserve IN the treasury for the re-
demptlon OF the government obligations should,
in my opinion, be increased to the extent Of at
least 20 per cent of the amount of treasury
notes issued and to be issued under the act OF
July IA. 1890.
As will be seen BY the estimates submitted
the receipts of the current and the next fiscal
year are not likely, if present conditions con-
tinue. TO fall below expenditures. Yet III view
of the fact that the surplus for this year will be
small, upon the basis stated with the probable
ity Of falling off in receipts for causes men
toned. | think the revenues should be in
creased as to enable the Treasury Department
TO maintain gold reserve of not less than
Sl25. DOC, 900 to maintain a comfortable work
ing balance in the treasury cash. As general
revision of our customs laws is now probable
do not feel like suggesting any special method
for increasing the revenue, though / should
otherwise think that additional tax on
whisky, which could be collected without addi-
tionsl cost. would furnish an easy method.
PUBLIC MoNEYs.
The monetary transactions of the government
have been conducted through the treasurer OF
the United SMtes nine subtreasury officers and
202 national bank depositaries. The number
of such depositsries on November /, 1892, was
l5s. and the amount OF public moneys held by
them on that date, including those to credit
Of the treasurer general account and United
States disbursing officers, was els S62, 4l4.al, q
reduction. since November ], 1891, in number
Of depositaries of twentv-four and in amount
Of holdings of S4.5l5, 6ss-s7.
LOANS AND CURRENCY.
Since March /, 1889, there have beer
purchased and cancelled United States
bonds Of the face value Of S233, 729, $50
for which there was expended the sum OF
s270 952. 43l.20. OF the bonds SO pur
chased sl2l, si6.s5o were per cents and sll2,-
lis, 200 AZ per cents. The expenditure wa,
s55. $50 4s3 81 less than the sum which would
be required to redeem the bonds and pay In
terest thereon to the date Of their maturity.
During the same period there were redeemed
at par S25. 504, 700 AZ per cent bonds, and q
further amount of s25, 36s 500 Of the same loar
has been continued during the pleasure Of the
| government, to bear interest at the rate Of !:
| per cent per snnum. The annual interes
charge March 1, 1889, was SS4 ,57s, 459.s So 1t ii
now 81, s93, 9e0s0.
| The increase in notes Of $50 was sS1, 1854, 500
! and there was a decrease in notes Of denomina
lions Of $50 and above Of $40. SIG, 325.
The volume of money in circulation has in
creased during the twelve months ended No
vsmber /, 1892, as shown by the following table
| Money In circulation