The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-11-27

WASHINGTON, D. c., Nov. 26.-United
Statos Treasurer D. N. Morgan has sub
mt.ed to Secretary Carlisle his annual
report on the operations and con-
dItions oil tho treasury. 1t shows that
tho net ordinary revenues Tor the fiscal
year 1898 we're $685., ,sl9, ,62S, IN increase
Of s3O,Ssl, ,S44 over those of the year be-
fore. The net ordinary expenditures
we're $3.50, Al, ,554, an increase Of $3S, ,454,-
b2S. There was, therefore, decrease
OF S7,772,779 in the surplus revenues, re-
ducing them to $2,34l,674. Including
tho public debt, the otai receipts were
S732,s7l ,2I4, and the total expenditures
T73,O07,99S. The public funds amounted
on June 80, 1892, to $746,54S,e55. Alter
setting apart those sums OF gold, silver
aud United States notes which were
held for the redemption oil certificates
OF deposit aud treasury notes, there was
lett reserve or general fund OF $751;
Ol2,74O In 1892 and Sl6s, ,167, ,391 in 1898.
These amounts, however, included GER
tain sums OF certificates OF deposit,
bonds and coupons, which were un-
available for any other purpose than
thesettlemento OF the treasurer's account,
and which, If cancelled, would have lett
nh actual available working balance OF
s165, ,945, 1856 and SLOT, ,295, ,696 on the two
dates respectively.
BY September 80, this balance had
been diminished to Sl49, $50, ,26S, owing
10 adefciency in the revenues. In seven
months, beginning with last December,
upwards Of $S1. .000,0 900 was drawn out OF
tie treasuryin redemption Of notes, and
the gold reserve was reduced during
the same period by $29.000,000. During
the next months, with light redemp-
tons and deficiency OF $l9,000,000 in
the revenue, the treasury lost SIT, ,OOO,-
900 OF gold, but the reserve fell of only
100000.
THE GOLD SITUATION.
The amount OF gold exported during
tho fiscal year was the largest ever
taken out of the country or brought
into it in like period, being upwards
Of SlO6, 100000, and that $l02, 100000 Of
it was drawn out OF the treasury by the
presentation Of legal tender notes.
Most Of the gold exported in former
years was supplied by the treasury in
exchange for gold certificates, and the
report says it ia the first time that any
considerable sums OF notes have been
presented for the metal.
With the exception OF an increase OF
Si5,5OOOO0 in the amount OF treasury
notes issued in the purchase of silver
bullion and q decrease OF SS0,000,000 in
the combined volume OF gold certificates
and currency certificates, there has been,
the report says, NO important change in
the public debt.
According to the revised estimate the
total stock OF money OF all kinds in the
country on June 80 was g, ,S22, ,557 ,97L
or nearly $5l, 100000 less than at the
same time last year, This contraction
took place Notwithstanding the addition
Of S45, 100000 to the stock OF silver, and
an increase OF S6, 5000 900 in the outstand-
ing bank notes, and was caused by the
exports OF gold. In July, however.
there began q heavy return movement
OF the metal supported by rapid ex-
pansion OF the bank note circulation.
By tho end OF September the stock OF
gold was restored to what it was when
the exports began. The total increase
OF the effective stock Of money in the
three months was no lower than $780,
100000. bringing it up to figure much
above the highest ever reached before.
The treasurer remarks that this sudden
contraction and expansion within the
space OF eleven months affords strik-
ing illustration OF the degree OF hexibil-
ity possessed by the currency.
MONEY IN CIRCULATION.
The revised figures for the amount OF
money in circulation. that is, outside
OF the treasury, on June 80 places it at
81, 596,S46,S29, or about S6,000,000 less
than 1t was year before. During the
four months ended with October there
was an increase OF S125, 100000, record
altogether without parallel in the his
tory Of the country.
The redemptions OF United States
paper currency have been unusually
heavy, amounting to $S77, o 10000 in the
fifteen months ended with October
During the past two fiscal years there
was recoined nearly one-fifth part OF
the whole estimated stock Of the subsi.
diary silver, an improvement, the re-
port says, that is expected to increase
the popularity and usefulness OF this
part Of the currency. Contrary to ex-
pectations, the Columbian souvenir
coins have not proved popular Some
Of them we're never taken out OF the
treasury, and others have been returned
IL for redemption. An arrangement has
been in contemplation under which the
halt dollars in the treasury will be re-
coined at the expense of the manage
luent OF the exposition. It has not yet
been decided what disposition is to be
made Of the quarter dollars OF this
coinage not disposed oil.
Although the nominal amount OF
counterfeit coins and paper currency
presented at the treasury was greater
Than in the previous year, the increase
was lees proportionately than the in
crease OF the amount OF money handled.
Considerable additions were made to
the bonds held in trust for national
banks and for tho Pacific railroad sink
ing fund.
The treasurer concludes by urging
that the vaults and saies in his office be
put in better condition in accordance
with recommendations made in the re-
port OF the commission appointed to in.
Nestigate the present methods Of this
kind OF construction.
AGRICULTURAL DEPARTMENT.