The state republican. (Jefferson City, Mo.) 1871-1896, 1892-12-01
UNCLE SANS MONEY BOX.
Annual Tt1Ct Cf tfc reccurer OF
the United States
For tho Fiscal Year Ended juno 80, 1899
"a Gratifying improvement In
the Condition of the
Public Debt.

urer of the United States. Mr.. Nebe-
lScr has submitted his annual report FOR
the year ended June 30, 1892.
The net ordinary revenues of the gov
ernment for the fiscal year were s354,
SsT,7Ss, decrease of s37, ,6T4, ,G63 as COM
| pared with the year before. The net
| ordinary expenditures were s345, ,0a3,-
l $50, decrease of s10 349,3 The sur
| plue revenues were thus cut down from
4 s37, ,o3a, ,T63 TO sIo, o,914, 45S. Including the
I public debt the receipts for the year
were 1876, 40l, ,2oG, and the expenditures
Gs4,0l9,2s9
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 revc-
nues the receipts from loans and the
deposits for the retirement of national
bank notes, increase for the time the
l 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
l of the treasury but do not affect the
available balance. For the first of
these classes the figures show an ex-
1 cess of eighty-eight millions of expen-
] ditures over revenues in 1891. and one
I OF upwards of twenty-seven millions
| in le92. 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
compared with 1891, there was saving
| of upwards of fourteen millions of in
i fnt. - -
| 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 u working balance OF cash and de-
posits in bank amounting to s2O7.II0,-
4'2 at the beginning of the year and to
Sl65, us, 1'.1 at the end OF the former
amount $4,000, 900 and of the latter
Slll,bOo,o0o 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 s1,545, ,o9a, sol on June 30. 1891,
and sI,5sS, 464, la ON June 30, 1892
The loans restipg on tfr aoSit of the
81, ,0o5, sos, $50 to s9Gs, 21S.s4O. Willie |
those secured by full deposits in the
treasury increased from $40, 100, ,031 to |
$500, ,245, ,304.
There was gratifying improvement
in the condition of the debt, produced
by the reduction OF the interest bear
ing loans, the conversion of matured
bonds into others payable at the OPP
tion Of the secretary of the treasury and |
the extinction OF a considerable part of
the loans payable on demand. The |
total net reduction OF s37, 1857, 720 in
these items was effected by the APP
plicatiou of the surplus revenues of the
year, amounting to nearly $40, 600, 900, |
together with upwards of so1, 900, 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 81, a, 33i,- !
cio, 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 aud treasury notes, the effective !
stock is found to have been 81, ,t3, ,953.-
7i5, an increase Of $4,000. 900. The |
monetary history Of the past year, how
ever, has been peculiar both in the
movements of gold, which have been
increased, and in the other changes |
that commonly occur with the changes |
of the seasons, but have this year been |
less marked, The increase of the cf-
fcctivc stock OF money from Septcmber |
to September was only $50, ,cOo,0Oe
a. al, l., Al.
and composition of the money in stock,
Tie treasurer finds that the increase
which marked the fiscal year was the
result of the production of nearly sl7,-
600, 900 of gold In excess of the indus.
trial consumption, fresh issue of |
81, 900, 900 of national bank notes, to-
Gcther with the changes in the stock !
of silver, The gold exported between
January and September was taken
mostly from the subtrcasury in New |
York. Up to the end Of June the with
drawals We're made by the presentation
of gold certifica ties, but from that time
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, s77l. l.2523ls |
was in the treasury and mints, leaving !
81 1903, ,0sl, 1856 in the hands of the peo:
pie. The holdings OF the treasury in? |
creased $50, 900, Op0 and the amount in
circulation 100000, 900 during the year.
Figures are given to show that each
year during the last ten years there
has occurred in the month of IanuarY |
more or less considerable diminution
of the gold reserve of the treasury,
averaging nearly $40, o0o, 900, which has
been succeeded in February by tend. |
epcy toward recovery. IT is shown |
that the decline has occurred yearly in |
the face of "a gain of gold, both TO the |
treasury and to the country, In the |
last ten mouths af the year the trsws. !
ury gained saa, ,9el, ,00g Of tas '--'
the eaHRtpy taa o"- .-~.al and
ti-+ - ,,vvo. 1t thus appears
,ne depletion of the reserve is the
consequence of tho increase of the
circulation of gold certificates aud
this, IL is shown grows ont of the dit
/ tcultics which the treasury encounters
| in the return of the notes and silver
certificates OF small denominations
which are sent out in the autumn for
moving the crops, The movement sets
in strongly after the first of January
| through the subtrcasuries, whence tho
notes, beng more or less worn and of
| denominations unsuited TO city use, are
sent to Washington for redemption.
uht ,I..v H..