People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1893-12-01


urer of the United States, Hon. d. n.
Morgan, has submitted to Secretary
Carlisle the annual report on the OPP
erations and condition of the treasury.
The net ordinary revenues for the
fiscal year were 1885, S19, 62s. rs, an in
crease of $50, SS1, S44 81 over those of
the year before The net ordinary
expenditures were S4S3, AT, 554 40, an
increase Of S3S, Asa, 6!391. There was,
therefore, a decrease of S7,572, 1881
in the surplus revenues, reducing
them to 50, 341, 67429. Including the
public debt, the total receipts were
S732, 81, 2147S, and the total expendi-
lures S773, 1907, 99S 80.
At the end of September, 1888, the
treasury held 1892, 5jl, 1906 of gold, the
largest amount ever reported The
largest amount OF free gold ever held
was S21S,S1S, 253, in March of the same
year The lowest points touched since
then were S16O, 763, 5o4 of total hold
ings and S81, 551, 1856 of free gold on
October 49, in April for the first time
since the gold reserve reached the sum
of 500, 100000, it fell below that fig
ure. and on the l4th of that month
the issue of gold certificates was sus-
pended, as required by law. The loss
OF gold was caused partly by de-
ficiencies in the revenues, but chiefly
by the presentation of legal tender
notes for redemption in the coin
For the seven months beginnin G
with last December, upwards of $751;
100000 was drawn out of the treasury
in redemption of notes, and the gold
reserve was reduced during the same
period by $4,000, 900. During the next
three months, with light redemptions
and deficiency OF $40, 200, 600 in the
revenues, the treasury lost SIS, 900, 900
Of gold, but the reserve fell only
S2,OO0,OOO.
The amount of gold exported during
the fiscal year was the largest ever
taken out of the country or brought
into it in any like period, being up
wards of SlOS, 100000.
With the exception of an increase of
$45, 100000 in the amount of treasury
notes issued in the purchase of silver
bullion, and decrease of SSO,OOO, 900
in the combined volume of gold GER
tifcates, there has been no important
change in the public debt
According to the revised estimates
the total stock of money of all kinds
in the country on June 30, was 81, 323,-
547,9 or nearly S51, 100000 less than
at the same time last year This con-
traction took place, Notwithstanding
the addition of S45, 500, 900 to the stock
of silver and an increase of $4,000, 100
in the outstanding bank notes, and
was caused, of course, by the exports
of gold. In July, however, there be-
gan a heavy return movement of the
metal, supported by rapid extension
of the bank note circulation. By the
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 less than S9j,-
600, 1000, bringing it up to figure
much above the highest ever before
reached. The treasurer remarks that
this sudden contraction and expansion
within the space of eleven months
affords striking illustration of the
degree of fexibility possessed by the
currency.
The revised figures for the amount
of money in circulation, that is out
side OF the treasury, on June 80, place
it at S1,596, Sic, 500, or about Sc, 600, 600
less than it was year before. During
the four months ending with October
there was an increase of 1925, ZOO, 900,
a record altogether without parallel
in the history of the country.
The redemption of United Sta ties
paper currency have been unusually
heavy, amounting to S377, 900, OOt in
the fifteen months ending with Octo
ber
Contrary to expectation the Column
bian souvenir coins have not proved
popular. Some of them were never
taken out of the treasury and other:
have been returned for redemption
An arrangement has been in contem
plation under which the half dollar!
in the treasury will be recoined a.
the expense of the management of thu
exposition. 1t has not yet been de
cided what disposition is to be mad,
of the quarter dollars of this coinag,
not disposed Of