Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1892-11-28
Submits His Report to Secretary
Charles Foster.
FIGURES, FIGURES AND FIGURES
From Which 1t Is Figured Out
That the Treasury Is as Yet
Solvent-How Long it Will Re-
main so, However, Is Left For
the Reader to Figure Out For
Himself.

Gne operations ana cOhulGlOnS VI VnO
Treasury, The net ordinary revenues
of the Government for the fiscal year
were 1854, 937, 7s4, a decrease Of S37.-
GA, ,663 as compared with the year be-
fore. The net ordinary expenditures
were S342, ,O53, $50. a decrease Of S1o,-
349,254. The surplus revenues were
thus cut down from $37, 239, 762 TO S9,-
914,453, including the public debt. The
total receipts for the year were
S736, 401, ,296 and the expenditures $685.
O19, ,2S9 Considered with respect to
the effect upon the treasury the re-
ceipts are divided into two general
classes, Of which the first, comprising
the ordinary revenues, the receipts
from loans and the deposits for the re-
tirement of national bank notes In
crease for the time the cash available
for the United States and the govern
ment, 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 treasury
but do not affect the available balance.
For the first Of these classes the figures
show an excess Of SIS, 900, 600 of expen-
ditures over revenues in 1891, and one
of upwards Of S27, 900, 900 in 1892. In
the second class there was an excess OF
nearly 500, ,0OO,0 600 of receipts in the
former year and one OF nearly $50, ,OOO,-
600 in the latter year. As compared
with 1891, there was saving of up
wards OF fourteen millions OF interest,
out of which surplus was realized not
withstanding the cutting down OF the
revenues by legislation.
ON JUNE 80, 1891,
there stood charged TO the treasury on
the books of the register a balance OF
S726, ,229, ,332. Adding thereto the reve-
nues of the year from all sources gives
a total of 81, 462, 623, 62S to be accounted
for. Out of this was disbursed by war
rant q total of S6S4, ,0l9,2S9, leaving a
balance Of SITS, GOA, 339 charged to the
Treasurer on June 80, 1892. In addi-
tion there were other liabilities arising
from the postal revenues, from the de-
posits to the credit OF disbursing ofli-
GERS, from the per cent. fund for the
redemption of national bank notes and
from various other sources. These, to-
gether with sums Of money collected
but not yet charged to the Treasurer
on the books Of the department brought
the total liabilities up to S777, ,S54, 945 at
the former date and to SS15, ,631, 63S at
the latter.
Analysing the true condition Of the
treasury and setting aside the trust
funds, the treasurer shows that there
was a working balance Of cash and de-
posits in bank amounting to S207, 10, 451
at the beginning of the year, and to
SI6s, 71s,1 at the end. OF the former
amount S119,OOO,OOO and Of the latter
S114, 500, 600 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 ST, ,555, 996, 591 on June SO
1891, and 81, 5SS, AGA, 144 on June 80,
1892. The loans resting on the credit
of the United States were cut dowD
from 81, ,O05. SOC, sos to S96s, ,21s, $40, while
those secured by full deposits in the
treasury increased from $40, 190,031 to
S62O, 235, ,3O4. There was gratifying
Improvement in the condition OF the
debt produced by the reduction of the
interest bearing loans, the conversion OF
matured bonds into others payable at
the option Of the Secretary OF the Treas
ury, and the extinction OF a considerable
part of the loans payable on demand.
The total net reduction of S37, 537, 749
in these items was effected by the appli-
cation of the surplus revenues Of
the year, amounting to nearly
$40 GOO, 600, together with up
wards of S27,OOO 600, taken
from the cash in the Treasury. Accord
ing to the revised estimates, the total
stock of money of all kinds in the coun-
trv on June 30, was 1874, 334, ,039, an
Increase of $50, 600, 900 in the year. By
eliminating that part Of paper currency
which Is purely representative, consist
ing OF certificates OF deposit and treas
urv notes, the effective stock is found
TO have been 81, ,753, ,963, 745, an increase
of S7O, 600, 600. The monetary history OF
of the past year, however, 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 effective stock of money
from September to September was only
$50, 900, 600.
Figures are given to show that each
year during the last ten there has oc-
Cured in the month of January more
or less considerable
pDuNUITIoN OF THE GOLD RESERVE
Of the treasury, averaging nearly S1o,-
oOO 600. which has been succeeded in
February by tendency toward recov-
erv II is shown that the drain has
yearly in the face OF gain Of
gold both to the treasury and to the
eouptry. It thus appears that the de-
nletion of the reserve is the conse-
onence Of the increase of the circnla-
tion of gold certificates and this. It is
shown. grows ont Of the difficulties
which the treasury encounters IN the
ratnrp of the notes and silver certid-
Gates Of small denominations which
we're sent out In the autumn for moving
~ crops. The movement sets In strongly
efier the first Of January through the
spb treasures whence the notes. being
asors or less worn. aad Of denominations
nneuited 20 city use. are sent % Nash-
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