Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1892-12-03
TREASURER'S REPORT.
Annual Statement # the Con.
dition OF National Finances.
Government Expenditures Ara
Far Exceeding the Revenues.

The Treasurer Of the United States, Mr.,
E. H. Nebeker in his annual report for thu
year ending june 80. 1872 says that the net
ordinary revenues OF the Government for
the fiscal year were 1885,, eSI, ISL, decrsss,
of SS1 GA, 66s as compared with the year be-
fore. The net ordinary expenditures we're
$345, o2S $50. a decrease of $40, S4a, 3i4 The
surplus revenues were thus cut down from
$S7, 2S9. 762 to S9,9i4.453. Including tha
public debt. the total receipts for the year
were sTSi, 40l ,296 and the expenditures 1851,
0l9, asg
Considered with respect 10 theeffect upOn
the Treasury, the receipts are divided into
two general classes, OF which the first, com
prlsing the ordinary revenues, the receipts
from loans and the deposits for the retire.
ment OF National hank notes. increase for the
time the cash available for the uses OF the
Government. while the second, arising from
the issue of gold silver and currency GER
tificates United States notes and Treasury
notes tend TO swell the assets OF the Treas
urv, Tut not aft Ct the available
balance. For the first o. these classes
the figures show an excess OF SIS 00l01)
of expenditures over the revenues in 1891,
and of upward of SCI, 000, 900 in 1892. In the
second class there was an excess of nearly
s69,Oe0,OOJ OF receipts In the former year
and one OF $50, coo 0C0 in the latter. As COM
pared with 1891 there was a saving OF up
ward of Sl4, Ol0, 000 of interest, out of which
surplus was realized, notwithstanding the
cutting down OF the revenue by legislation.
Ana,yzing the true condition OF the Treas
ury, and setting aside the trust funds. the
Treasurer shows that there was a working
balance o. cash and deposits in banks
amounting to S207, 10 452 at the beginning
of the year. and to Sl65, us, ISL at the end.
OF the former amount $4,000 900 and of
the latter STA SOL, 900 was gold. The sue
cess which has attended the efforts of the
department to maintain a strong gold re-
serve is considered satisfactory, IN view OF
the heavy disbursements.
The amount of the public debt Is given as
81 545 996, SOL on June -, 1891, and 81 SIS.
464, I44 on June 30, 1892. The loans resting
on the credit of the United States wers cut
down from a. 005,s $3.50 20 S96S, 2lS s4l.
while thoss secured by full deposits in ths
Treasury increased from S54l I9l03l to
$500, 1884 There was a gratifYiuy im-
provement in the condition of the debt, pro-
duced by reduction OF the interest bearing
loans, the conversion of matured bonds into
Others, payable at the option of the Secre-
tary OF the Treasury, and the extinction OF
a considerable part OF loans payable on de-
mRnd. The total net reduction of S37. jsT
40 in these items was effected by the appii-
cation OF the surplus revenues OF the year.
amounting to nearly Sl0,010,O0), together
with upward Of S27, O)0 taken from the
cash In the Treasury.
According to tue revised estimates, the
total STOCK OF money OF all kinds in the
country on June 30 was 81, 37I, 33 ,04g, an
increase of $3.50, COZ In the year. BY
eliminating that part of the paper currency
which is purely representative, consisting
OF certificates of deposit and Treasury notes,
the effective stock is foun1 TO have been
81, 753, 953, 745. an increase OF $1,000. :
90. This increase the Treasurer
finds. was the result Of tho prodns-
tion Of nearly sl7. 600, 900 Of gold in excess
OF the in ustrai consumption, fresh issus
OF s., 900, 900 of National bank notes, together
with the changes in the stock OF silver Tue
gold exported between January aud Septen-
Der was taken mostly from the Sub Treasury
in New York. Up to the end OF June the
Withdrawals were made By the presentation
OF gold certificates, but from that tins on TO
the cessation of shipments, mostly upon
tenders of United States notes and Treasury
notes.
OF the aggregate stock OF money at tbs
end of the fiscal year, s71l 30 3l3 was in the
Treasury AMI mints, leaving 81, 6J3 0Sl, 73i
in the hands of the people. The holdings OF
the Treasury increased $50. 00O. 900, an 1 tho
amount in circulation $4,000, 900 during
the year.
The issue OF United States paper currency
duiouHbeu W FDtut ~ Dtot tANtthiuH tuOse VI
any previous year. The nearest approach
to this total was $1,000, CO... in the year be-
fore, and the next nearest SOL, 900, 00) in
1868. OF the whole amount, s29S. COZ, 600
took the place of like kinds AMI amounts
destroyed, while SIS DO 900 consisted of fresh
issues.
Satisfactory changes have been effected
in the condition Of the fractional silver coin.
age, through the liberal appropriations Of
the past two years for this purpose.
There has been slight decrease in the
amounts o. counterfeit silver coins and paper
currency presented at the Treasury Offices.
There was an increase OF over $50 0lO, 90
during the year in the amount OF United
States bonds held for the security OF M
tional b nix circulation, aud a decrease OF
$40, COO, 900 in the amounts held as security
for public deposit. A total addition Of 81, .
ga 900 was made to the par value Of the SO.
curities competing the Pacific Railroad
sinking funds
In proportion 70 The YOU ne Of National
bank notes in circulation the redemption
continue heavy, having amounted TO u war
Of s6lU0 900 in the fiscal year.