The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1893-12-14

) citizens abroad, and in certain
countries exercising judicial functions
these officers should be men O
chara cter, intelligence and ability.
Upon proof that the legislation OF
Denmark secures copyright to Ameri-
can citizens on equal footing with its
own, the privileges of our copyright
laws have been extended by proclama
ton to subjects of that country.
RECEIPTS OF THE GOVERNMENT.
The Secretary of the Treasury re-
ports that the receipts of the govern
ment from all sources during the fiscal
year ended June 80, 1898, amounted
to s461,7I6,56I.94 and its expendi-
lures to s459,374,674.29. There was
collected from customs S2o5,3s5,-
o16.73 and from internal revenue
S161, 1,o27,623.9S. Our dutiable i'm
ports amounted to s451,S56,7II, an
lncrea Sc of s52,45S,9o7 over the
preceding year, and lmportations free
of duty amounted to s444,544,21I,
decrease from the preceding year Of
s13,455,447. Internal revenue re-
ceipts exceeded those of the preceding
year by s7,147,445.32.
The total tax collected on distilled
spirits was s94,72o, ,26o.55, on manu-
factured tobacco s31,SS9,711.74 and
on fermented liquors S32,54S,9S5.o7.
We exported merchandise during the
year amounting to sS47,665,194, a
decrease of s1S2, ,612,o54 from the
preceding year. The amount of gold
exported was larger than any previous
year in the history of the government,
amounting to S1oS,6So,S44, and
exceeding the amount exported during
the previous year by s5S,4S5,517.
The sum paid from the treasury for
sugar bounty was s9,375,13o.SS, an
increase over the preceding year of
s2,o35,o53.o9.
OTHER FINANCIAL STATISTICS.
1t is estimated upon the basis of
present revenue laws that the receipts
of the government for the year ending
June 80, 1894, will be s43o,I2I,-
365,3S and its expenditures S45S,121,-
365.3S, resulting in a deficiency of
S28,ooo,ooo.
On the first day of November, 1898,
the amount of money Of all kinds in
circulation, or not included in treasury
holdings, was s1,71S,544,6S2, an in
crease for the year of S112,4o4,947.
Estimating our population at 67,426,-
900 at the time mentioned the per
capita circulation was S25.4o. On the
same date there was in the treasury
gold bullion amounting to So6,657,-
273 and silver bullion which Was
purchased at cost of S126,261,553.
The purchases of silver under the
law of July ID, 1890, during the last
fiscal year aggregated $4,000, 1888
fine ounces, which cost S45,53I,374.53.
The total amount of silver purchased
from the time that law became operative
until the repeal of its purchasing clause,
on the 1st day Of November, 1898,
was 16S,674,59o.46 fine ounces, which
cost s155,93o,94o.84. Between the
1st day of March, 1873, and the 1st
day of November, 1898, the govern
ment purchased, under all laws, $685.,
oo3,717 fine ounces of silver at cost
of S. 16, ,622,948. The silver dollars
that have been coined under the act Of
July IA, 1890, number 36,oS7, as.
The seigniorage arising from such
coinage was s6,977,o9S. SO, leaving on
hand in the mints 14o,699,76o fine
ounces of silver, which cost 81 6,758,-
21S.
Our total coinage of all metals
during the last fiscal year consisted Of
s97,2So,S75 pieces, valued at s43,
6S5,179.So, Of which there was $780,
o38,14o in gold coin, S5,343,715 in
silver dollars, s7,217,22o.9o in subsid
iary silver coin and 81, ,o86,1o2.9o in
minor coins.
During the calendar year 1892 the
production of precious metals in the
United States was estimated to be
1,596,375 fine ounces of gold of the
commercial and coinage value Of
S33,ooo,ooo, and 58,ooo,ooo fine
ounces OF silver, of the bullion or
market value of s74,9S9,9oo.
1t is estimated that on the 1st day
of July, 1898, the metallic stock of
money in the United States, consisting
OF coin and bullion, amounted to
sI,2I3,559,169, OF which S597,697,-
685 was gold and S615,861,484 was
silver.
One hundred and nineteen national
banks were organized during the year
ended October 81, 1898, with a
capital Of sI1,23o,ooo. Forty-six
went into voluntary liquidation and
158 suspended. Sixty-five OF the sus-
pended banks were insolvent, &c
resumed business and remain in the
hands of bank examiners, with pros
poets Of speedy resumption. Of the
new banks organized, "A were located
in the Eastern States, AZ west of the
Mississippi river and 81 in the Central
and Southern States. The total number
of national banks in existence on the
3Ist day of October, 1898, was 1896,
having an aggregate capital of $685.
558.I2o. The net increase in the
circulation of these banks during the
year was s56,SS6,972.
REPEAL OF THE SILVER PURCHASE
LAW.
The recent repeal of the provision OF
law requiring the purchase Of silver
bullion by the government as feature
of our monetary scheme, has made an
entire change i'll the complexion of our
currency affairs. do not doubt that
the ultimate result Of this action will
be salutary aud far reaching In the
nature Of things, however, it is impos-
slDle to know at this time Orecisely =