The times. [volume] (Richmond, Va.) 1890-1903, 1892-08-12

gold held, the aggregate being el12. I59. 2a5.
q gam since August lst OF nearly $1,000 600.
The net gold Is. however. slS ,000, 600 Jess
than was IA the treasury January l. ss2.
The customs receipts at New York also show
an increase OF more than 900 000 over tho
corresponding ten days Of August. 1891,
being si.S3l. $780, OF these customs duties
~ Per cent were paid in gold certih-
cafes. and Sc per cent in treasury
notes, tho remainder being paid in
silver certificates aud United States notes.
Ii IS explained that the heavy percentage
Of tTeasury notes used In the payment OF
customs duties is due % the fact that
treasury notes are now exclusively issued
IN New York city. On January 9, 1892
but seven per cent. OF the customs duties
was paid IN treasury notes while now fifty
Sis per cent. is paid IN that way. As the
treasury note payments increase the gold
certificates received for customs duties de-
crease. The treasury net balance to-day
is f27 558, ,854. Of which as. .s73 224i Is in sub
sidlary coin and ell $4,000 in national bank
repositories. The surplus has been reduced
TO this low figure by the heavy disburse-
ments s6025. 900 having so far this month
been paid out ON account OF pensions.
The receipts and expenditures. however
arc running fairly even, the total receipts
being Sl5,O00,000 and the expenditures sI3,-
C05,0oO.
OUR FINANCIAL PoLICY.
Ex-Governor @. II. Brogdeu. Of Greens
bor0, n. c., has prOpounded some categori-
cal Questions % the Treasury Department in
relation 10 the financial policy OF the past
and present administration. % which Acting
Secretary NettotOn makes categorical reply.
Mr. BrOgdens first and sesoud question s
related 10 the amount Of the public dob /
purchased and redeemed ia the two periods.
Mr.. hettletOn presents the following state
ment: Purchases and redemptlOns of
United States bonds from March ]. 1885 TO
March J.. 1889 -PTinoipie, 1888 078, $50. cost,
a35l, ,264 $40 cost at maturity, s3e4 ,097 $50;
saving, S32. .832, ,53s. From harch ]. 1889, TO
July /. 1899 Principal, 1853 O93. $50. cost.
1920 30j, $50; cost at maturity, 1851 .6d9, ,O24,
saving. SOS $50 ,493. The reduction in an
nual interest charged on United States
bonds since March /, 1889 Amount OF in
terest March /, 1889, s84. .575 459, amount Of
interest July !. 1899. so. 893.6o3
To Mr.. Brogden's third question, Did
Cleveland or bis Secretary of the Treasury
let the banks have the use Of the deposits
OF the public money belonging TO
tho Government without interest Z ID
Mr.. Nettleton replies that "the depart
ment has no authority 10 loan public mon
eys with OF without interest, and as matter
of fact no interest has been received for de-
posts made with banks, but during the last
administration public deposits with Ma
tional bank repositories were increased
from the surplus revenue from twenty mill
lion dollars 70 about sixty-tWo million.
which deposits bore no interest and We're
fully secured by United States bonds. The
deposits have. however since been with
drawn from time 70 time, till at present the
entire amount on deposit with National
bank repositories is only about sixteen mill
lion dollars"
To Mr. Brogden's fourth question Did
Cleveland borrow money in England to paw
interest 10 foreign bOndhOlders" Mr.. Net
tletOn answers that be did not.