Huntsville gazette., 1892-12-03
UNCLE SANS MONEY BOX.
Annual Report Of the Treasurer of
the United States
For the Fiscal Year Ended June so, 1892
"A Gratifying Improvement In
the Condition or the
Public Debt.

ker, has submitted his annual report for
the year endedipe so, 1892.
The net ordinary revenues of the gov
ernment for the fiscal year were s354,-
OBJ, 7S4, decrease of s37, ,674 1858 as COM
pared with the year before. The net
ordinary expenditures were s345, ,023,-
$50, decrease of $40, $40, 354. The sur
plue revenues were thus cut down from
s37 ,239, 762 to s19, 1914, 453. Including the
public debt the receipts for the year
| were sS75, 40 |, 296, and the expenditures
| 1854, ,019, ,2S9.
Considered with respect to the effect
upon the treasury the receipts are di-
| vided into two general classes. of which
the first, comprising the ordinary reve-
nues, the receipts from loans, and the
| deposits for the retirement of national
| bank notes, increase for the time the
| cash available for the uses Of the gov
| ernment while the second arising from
the issue of gold, silver and currency
certificates, United States notes and
treasury notes. tend to swell the assets
of the treasury but do not affect the
available balance. For the first of
these classes the figures show an ex-
cess of eighty-eight millions of expen-
| ditures over revenues in 1891, and one
of upwards of twenty-seven millions
in 1892. In the second class there was
an excess of nearly sixty-nine millions
of receipts in the former year and one
of eighty millions in the latter. AS
Fcompared with 1891, there was a saving
of upwards of fourteen millions of in
terest ont of which a surplus was re-
allied, Notwithstanding the cutting
down of the revenues by legislation.
Analysizing the true condition of the
treasury and setting aside the trust
funds, the treasurer shows that there
was working balance of cash and de-
posits in bank amounting to s207, no.,
452 at the beginning of the year and to
s165, rs, III at the end. Of the former
amount $4,000, 900 and of the latter
s114, 100000 was gold. The success
which has attended the efforts of the
department. to maintain a strong gold
reserve is considered satisfactory in
view of the heavy disbursements.
The amount of the public debt is
given as 81, 545, ,99s, 591 on June 80, 1891,
and 81, ,5S3. 464, IA on June so, 1892.
The loans resting on the credit of the
United States were cut down from
81, ,Oo5, SOC, $50 to s96s, ,21s, $40, while
those secured by full deposits in the
treasury increased from $40, 100, OBJ to
1920, 245, 304.
There was gratifying improvement
in the condition of the debt, produced
I. IL i Il
ing loans, the conversion of matured
bonds into others payable at the OPP
ton of the secretary Of the treasury and
the extinction of considerable part of
the loans payable on demand The
total net reduction of SS7, ,5S7, 720 in
these items was effected by the ap
plication of the surplus revenues of the
year, amounting to nearly S10,000,000,
| together with upwards of s27, 7,000,0 900
taken from the cash in the treasury.
According to the revised estimates
| the total stock of money of all kinds in
the country on June 80 was 50, 374, 334,-
o49, an increase of $50, 900, 900 in the
year. BY eliminating that part of the
paper currency, which is purely repre-
sentative, consisting of certificates of
deposit and treasury notes, the effective
stock is found to have been 81, ,753, ,953,- :
745, an increase of 100000 The
monetary history of the pastyear, how
ever, has. been peculiar both in the
movements of gold, which have been
increased, and in the other changes
that comm only occur with the changes
of the seasons, but have this year been
| less marked. The increase of the eff
fectiye stock of money from September
! to September was only $50, 100000.
Discussing the changes in the amount
| and composition of the money in stock,
the treasurer finds that the increase
| which marked the fiscal year was the
result of the production of nearly s17,-
600, 600 of gold in excess of the indus
| trial consumption, a fresh issue of
S.. 900. 900 of national bank notes, to-
| gether with the changes in the stock
of silver. The gold exported between
January and September was taken
mostly from the subtreasury in New
| York. Up to the end of June the with
drawals were made by the presentation
| of gold certificates, but from that time
| to the cessation OF shipments HooUiy
upon tenders of United States notes
| and treasury notes
Of the aggregate stock Of money at
| the end of the fiscal year. s771, 252, 313
was in the treasury and mints, leaving
sl,603, ,CS1, 7s6 in the hands OF the peo-
pie, The holdings of the treasury in
creased $50, 600. 0pO and the amount in
circulation 500, 600, 900 during the year.
Figures are given to show that each
year during the last ten years there
| has occurred in the month of January
a more or less considerable diminution
of the gold reserve of the treasury,
averaging nearly $40, 900, 900, which has
| been succeeded in February by tend
! ency toward recovery. 1t IS shown
| that the decline has occurred yearly IN
the face of gain of gold, both to the
| treasury and to the country: In the
last ten months ct the year the treas.
| Try gained ss2. 600, 900 ot the meta! aaa