River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1893-11-30
Cash IN HE COUNTRY.
treasurer Morgaa Ref ,rts on the CondI-
ton of the Treasury.

WAsHINGroN. New y United States
Treasurer d. n Morysa has submitted to
Seeresary Carlisle ais annual repor, on the
operations aud condition OF the treasury II
shows thai the net ordinary revenues for the
nscal year 1898 were sSa5 SIG. 6as an In
crease OF $50, .s44 over those OF the year be-
fore. The net ordinary expenditures wer
SSs3, .554. an increase of SOS 454 623 There
was, therefore. decrease OF s7.772, 10 in the
surplus revenues. reducing them TO q 34i. GA
Including the public debt the total receipts
we're s7Se, PA ami the total expenditures
s7s3 cor, SIS
The public funds amounted on June 30 1892,
TO sas6, Boil .ses, and on June 81, 1898, to E46,
5Ss 65S. Alter setting apart those sums of
gold. silver and Uaited States notes which
were held for the redemption OF certificates Of
deposit and treasury notes there left a
reserve, or general fund OF sis7. 0l2, 40 In
1897 and tl63..67 1871 in 1893 These amounts,
however, included certain sums OF certificates
OF derosit bonds and coupons which we're I'M
available for any other purpose than the settle
meut OF the treasurers account and vhioh. ~
Cancelled. would have left an actual available
working balance OF si6J as $50 and 1853 rs GO on
the two notes, respectively.
by September 80 the balance had been dimin-
ished TO slfe, $50 25s owing 20 a deficiency IN
the revenues In seven months. beginniag
with las December upward OF Ssi COO 600 was
drawn out OF the treasury IN redemption OF
notes. and the gold reserve was reduced during
the same period by f.e,000,000 During the
next three months. with light redemptons and
a deficiency OF sI9,000O00 in the revenue, the
treasury lost Si5O010O OF gold, but the re-
serve fell OF only s2,CO000).
The smoant az gold during the fiscal year was
the largest ever taken out Of the country or
brought into 1t in like period being upward
o. Sl0s000 OO0, and that sI02 10000 OF it was
drawn out OF the treasury by the presentation
OF legal tender notes Most OF the gold ex-
ported in former years was supplied by the
treasury in exchange for gold certificates. and
the report says 10 the first time that any con-
siderable sums have been presented for the
metal
With the exception OF an increase OF s4S 50O.-
900 in the amount OF treasury notes issued IN
the purchase OF silver bullion, and decree SO
of S60000.OO0 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 an kinds in the country on
June 80 was s2,a23,5i7,9I7, or nearly s5l, OO000)
less than at the came time last year This
contraction took place notwishs landing the
addition OF s450000)0 TO the stock OF
silver and an increase of 3iWOJW In
the outstanding bank notes, AMI was caused by
the exports OF gold In July, however, there
SUPPORTED by rapid expansion OF bank note
circulation. BY the end OF September the
stock OF gold was restored 10 what IL was
when the exports began. The total increase OF
the effective stock of money in the
three months was no lower than 5,000,-
0J0, bringing il up 10 figure much above the
highest ever reached before The treasurer
remarks that this sudden contraction and exs
pausion within The space of eleven months af
fords striking Illus tration OF the degree OF
fiexibility possessed by the currency.
The revised figures for the amount of money
in circulation, that is outside the treasury on
June 3D. place it at 81 500 s46. s29 or about a.
0OJ.000 less than It was year before During
the four months ended with October there was
ar increase OF si25. 000000. a record altogether
without parallel in the history Of the country
The redemption OF United States paper cur
rency has been unusually heavy, amounting
10 S371 90 900 in the fifteen months ended With
October.
During the last two fiscal years there was re
coined nearly one-fifth of the whole estimated
stock OF silver Improvement the report
says that is expected 10 increase the popular
ity and usefulness of this part of the currency