New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-11-28
WORK OF THE TREASURER.
MIR. NEBEKER'S ANNUAL REPORT.
SURPLUS REVENUES CIT BOWMAN INCREASE
~ THE MONEY IN CIRCULATIoN-TuE

~ THE MONEY IN CIRCULATIoN-THE
GOLD RESERVE WE'LL MAINTAINED.
Washington Nov. o7.-Thc Treasurer of the United
States. T. III. Nchek,r. has submitted 70 secretary
Charlie, Foster The annual report on The operations and
condition of the Treasury. The ordinary revenues
Of Tic Cos eminent for the fiscal year were S''3i-
G37,7s4 decrease o; So cd GG3 a. compared With
the year before. The net ordinary expenditures were
@343 C23 go. decrease Of SlO34o.35t. The surplus
revenues were thus cut down from 237.239.7G2 TO
S19l4.453. The total receipts for ;he year We're
$3.50 4Ol 20. and TIC expenditures 1854 Ol9.2so.
Considered with respect TO the effect upon the Treas
my the receipts are divided into general Glasses
OF which the first, comprising the ordraGy revenues,
the receipts from loans and the deposits for tae
trcmcnt of National Lank notes. Increase for the fine
the cash available for the OF the Government,
While the second arising from the Issue OF gold silver
and currency certificates. United states notes and
Treasury notes tend swell the assets # the Treas
my but do not affect the available balance. For the
first Of these classes the figures show IN excess OF
SosCOOCOO OF exr enditu-cs revenues In 1891 AMI
enc of upward If s27 100000 IN 1892. In She second
class there an excess Of nearly $60.OOO.0OO OF
receipts in the former year and OF 3a0,oo0oo0 In
The latter. As compared with 1901 there was n saw
ing Of upward OF Sl4.OOO.OOO of interest ont Of
which surplus was realized. Notwithstanding the
cut Ing down of the revenues by legislation.
On june 80 1891. there stood charged to the Treas
222.33o Adding thereto tie revenues OF the year
from all gives total OF II iG2 G3G.Ges to DO
accounted for. Out Of this dlsburSed by warrant
total ot SGS4 oi9,oso, leaving balance Of FITS
Ci,J30 charged to the Treasurer June 30. le92
In addition there Other liabilities arising from The
postal NnueS from the deposits the credit Of dis
bursting officers. from tie Per cent fund for the re-
dcTptcn Of National bank notes and from various
other sources. These. together with sums Of money
collected but rot yet charged 10 the Treasure ON the
books OF the Department. brought the total liabilities
up to S777.5549+5 at the former date. and TO S5l5
631 ,G38 at the Inter.
Anaiy2;ng the true condition of the Treasury and
setting aside tho trust funds. the Treasurer shows that
there a working balance Of cash ana deposits in
banks amounting TO $207.1loi5l at the beginning Of
the year and TO S1G5.7la.ljO at the end. OF the
former amount %l10O0oOO0 and OF the latter sl14
100000 was gold. The success which las attended
Ohc efforts Of The Department TO maintain a strong gold
considered satisfactory. view the heavy
disbursements.
The amount OF the public debt Is given as 81 5f5,
99G.j91 on June 80. 1907. and Sl.5-s.4Gf.144 on
June so, 1902 The loans resting on the credit 0.
the United states down from 81 ODj. go
10 S9G6 $50 while those secured bv full deposits
in the Treasury increased from $40 O3l 70 $780,
c45.3O4. There was gratifying improvement In THE
condition Of the debt produced by the reduction Of tho
interest bearing loans. Il" conversion o. maured bonds
Into others payable the option OF the Secretary OF
the Treasury, aad ne extinction OF considerable part
OF the loans payable on demand. The total net re-
ductiOn Of S37 ISL 7l9 in these items Was effected
by the application Of the surplus revenues Of tie
year. amounting 10 nearly S1OOooO0 together with
upward Of STOOD 600 taken from the cash in thc
Treasury. According 10 tie revised estimates the
total stock Of money Of all kinds in The country on
June so was ssh .334,O49. an Increase OF 10000
900 in the year. BY eliminating thai part OF The paper
currency which IS purely representatives,, consisting Of
certificates Of deposit and Treasury notes the effective
stock IS found have been 81. 753, 953745. an In
crease OF S7O,COOOOO. The monetary history Of the
last year. however. has been peculiar both in the
movements OF gold, which have been increased aud
In the other changes that commonly Occnr With the
changes OF the seasons but 1ave this wear been less
marked. The increase of the cfectlv stock OF money
from september 10 September only sJO.OOO.OoO.
Discussing the CHANCES In the amount and com
position OF tie money Stock he treasurer IN TIA.
the Increase which marked the fiscal year va, the
result Of the production Of ncary ST. 900 COO # gold
in excess or the industrial consumption I e.h IS
OF 100000 OF National hank notes. and the changes
In the stock Of silver. The gold exported between
January and September was taken mostly from tho
sub-Treasury in New-York. Up TO thc end Of June
the Withdrawals made By he presen at IN Of
gold certificates, but from hat time on . Tire cessation
Of shipments mostly upon tenders Of United states
notes and Treasury notes.
OF the aggregate stool: OF money al IN, end Of tie
fiscal year. S77l o52.313 was in tle Trca>uiy and
minis. leaving s1,GO3O8173G fl the hands - the
people. The holdings Of The Treasury ilc?oasei -
CO0.Coo, ana the amount in cir ai0n 8 10000, %
during the year.
Figures arc given to show that each We durag u @
last there las occurred In Tho month Il January
more or less considerable ciuinltion Il tie COLI rc
serve OF the Treasury. aye.ac,rg nearly &lOOOO 900
which has been succeeded in Foiraa.y " a tendency
toward recovery. l; IS s,owH mt the Grain his
occurred yearly In TIE face cain OF rolI. both 10
tn Treasury ard 10 the country. 1t tlu, appears that
The depletion Of Tie reserve j. the Consequence
Of the Increase Of he circulation o! cold
certificates. and This. /, Is slOwn crows OF the
difficulties Wlich he Treasury cac 'untcrs II the lie
turn OF the notes AM liver cerilcatos + ma de-
nominations. vii Il ut Gut in The autumn 70,
moving tie crop.
Tic movement sets in strongly after the first Of
January, through tie subreasures. whence the nOe~
being mere les, worn. and Of denomination, IN.
sui,ci 20 Cy usc. are sent 70 Washington for re-
dclnitiou The shipment, redemption aad destruction
II tie Old notes. ana tho lsuc OF new, take time.
Peore BE Treasury can make the conversion tho sub
trcaSu-ios drained ana th- Treasury has nothing
hut gold certificates 10 seed them. In this god
reserve suffers mill working balance OF other
ma eral can he got together.
The issues Of United states paper currency
amounted 70 *37G,72f.593 exceeding those OF any
previous year. The nearest approach 10 tn, total
was ;3lOlOOOOo in IN" year before, aud the newt
leqrlst. 719l COOK " in 1863. OF the Whole amount
500 100000 took The piece Of Ike kinds ana
amounts destroyed. While i7SOOO,OJO consisted Of
fresh issues Dur.ac the first SIX months there was
increase OF upward Of $1,000 900 IN tie dcnomi
Ia'lOrs OF twenty dollars and gnder outstanding ana
curnc the last SIX month, IN increase Of S;GCocOo
in the denominations Of fifty dollars and over The
Treasurer remarks that II wOud 10 b" the prorc'
policy to make provision i)r The periodic change
which appear 70 be natural both IN the amount AM
the denominations Of lie paper currency required b,
the people.
Satisfactory Changes have Deer CNcCtrd In the con
dl'iun OF the fractional SILVER coinage through the
nnrl,i anrInnlih OF lll. L.t fLr III.