Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1892-12-09
TREASURER'S REPORT
Annual Statement of the Con.
ditIOn OF National Finances,
Government Expenditures Are
Far Izceeding the Revenues.

The Treasurer OF the United States, Mr.
l.. Il. Ne5eker, in his annual report for the
year ending June 30 1872 saws that the net
ordinary revenues of the Government for
the fiscal year were 1854, 937. 7S4, a decrease
OF $37, ga 663 compared with the year be
lore. The net or i:iaTy expenditures were
S345, C-3, $50. a decrease of SIG 349 354. The
surplus revenues were thus cut down from
$31, 239, 1852 to 50, s14.453. Including the
public debt. the total receipts for the wear
were $3.50, 40l, 296 and the expenditures $6S4,
019 2S9.
Considered with respect to theeffect upon
the Treasury the receipts are divided into
two general classes, of which the first, COM
Drlslng the ordinary revenues, the receipts
from loans, and the deposits for the retire
ment OF National bank 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
tIhcates, United States notes and Treasury
notes tend to swell the assets OF the Treas
ury, but not affect the available
balance. For the first o these classes
the figures show an excess OF $SS, 90 O00
OF expenditures over the revenues in 1891,
and of upward of S27 O00 900 in 1892 In the
second class there excess of nearly
500 OOO, 600 of receipts in the former year
and one of $50. 600 90 in the latter AS COM
pared with 1891 there was a saving OF up
a surplus was realized, notwithstanding the
cutting down of the revenue by legislation.
AnalyZlng the true condition of the Treas
ury, and setting aside the trust funds, the
treasurer shows that there was a working
balance OF cash and deposits in banks
amounting to $2O7, 11O45 at the beginning
OF the year, and to s165, 11S. ISL at the end.
OF the former amount S1l9 000 900 and of
the latter STA, so, 900 was COLO. The sue
cess which has attended the efforts of the
rfT 1a1f TO oiY1ro Ill
serve is considered satisfactory in view of
the heavy disbursements.
The amount of the public debt IS given as
81, 545, 996, 591 on June 3D. 1891, and 81, 588,-
464. IA on June 80 1892. The loans resting
on the credit of the United States were cut
down from 81, COS, SIS, $50 to S968, 21S, $40,
while those secured by full deposits in the
Treasury increased from $40 100, OBI to
500, 245, 3O4. There was a gratifying i'm
prOvement in the condition OF the debt, pro-
duced by reduction of the Understanding
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-
mand. The total net reduction of S37, 49,
40 in these items was effected by the appli-
cation Of the surplus revenues OF the year,
amounting to nearly $40 900, Co., together
with upward of S27, 90, 900 taken from the
cash In the Treasury.
According to the revised estimates, the
country on June 80 was 81, 374, 334, O49,
increase of $3.50, 600 coo in the year. BIZ
eliminating that part OF the paper currency
which is purely representative, consisting
OF certificates of deposit and Treasury notes,
the effective stock is found to have been
S. 153, 953, 745, an increase of $70OO0,-
OOO. This increase the Treasurer
finds, was the result of the produc-
ton of nearly ST. 900, 600 of gold in excess
of the industrial consumDtion a fresh issue
n lHf Not nj h11,
with the changes in the stock Of silver. The
gold exported between January and Septem
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 time on to
the cessation of shipments, mostly upon
tenders of United States notes and Treasury
notes.
OF the aggregate stock Of money at the
end of the fiscal year, $771, 252, 313 was in the
Treasury an minis, leaving 81, SOB O8l, 736
in the hands of the people. The holdings OF
the Treasury increased $50, 900, 900, and the
amount in circulation 100000, 0O0 during
the year.
The issue of United States paper currency
amounted to 1915, 1875 5S3, exceeding those of
any previous year. The nearest approach
to this total was 1910, 900, coo, in the year be-
fore, and the next nearest 1921, OOO, OOJ in
1868. Of the whole amount, 1928. 900, 600
took the place of like kinds and amounts
destroyed, Wnne S'o,O O,OVO cohslSteo OIL Lesn
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 a slight decrease in the
amounts of counterfeit silver coins and paper
currency presented at the Treasury offices.
There was an increase of over gu, OOO, OOO
during the year in the amount Of United
States bonds held for the security of Ma
tional bank circulation and decrease OF
10000 600 in the amounts held as security
for public deposits. A total addition OF ST.
&C., 600 was ma lie to the par value Of the Sc
curlties composing the Pacific Railroad
sinking funds.
In proportion to the volume Of National
bank notes in circulation the redemptions
continue heavy, having amounted to Upward
of S69, 900, 900 Ill the fiscal year.