Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1893-11-30
THE TREASURY.

OF toc, 43i, O2j.Ol. lhcre was, therefore,
a decrease of e., 572, 77a 81 in the surplus
revenues, reducing them 20 g., 34i, ,674 90.
Including the public debt, the total re-
ccipts were s732, ,s7i, ,2i4.7s. and the TO.
tai expenditures s773, 007, Dos 20.
The business of the treasury has
been conducted through the main Of.
flee at Washington, nine esub.treasuries,
five mints, five assay offices and about
100 national banks designated TO act as
United States repositories. Each of
these institutions held part OF the pub
lie funds. which amounted on June 80,
1892, to $3.50, 85l, sos II, and on June 80,
1898, TO s746, ,5SS, ,6555s After setting
apart those sums of gold. silver and
United States notes which were held
for ths redemption of certificates
of deposit and treasury notes, there
was left n reserve or general fund
of sis7, ,0i2. 740 II in 1899, and S16s, fG7,-
39i5 in 1893 These amounts how
ever, included certain sums of certifi.
Gates of deposit, bonds and coupons,
which were unavailable for any other
purpose than the settlement of the
treasurer's account, and which, II can
celled, would have left an actual avail
able working balance of sl65, 045, 4S6 60
and S156, S95, sos. 81 on the two dates re-
spectively. BY September 80 this bal
ance had been diminished to s149, $50,
PCS. ~ owing, Of course, to deficiency
in the revenues
At the end of September, 1sss, the
treasury held s332, 55i, 800 of gold the
| largest amount ever reported. The
largest amount of free gold ever held
was s2ls, sis, ,253, in March Of the same
year The lowest points touched since
then were s16O. 763 5s4 of total holdings
and ssl. .55i, SS5 of free gold on October
10. In April, for the first time since
the gold reserve reached the sum of
500, 900, 600, Il fell below that figure,
and on the i4th of that month the issue
of gold certificates was suspended, as
required by law. The loss OF gold was
caused partly by deficiencies in the
revenues, but chiefly by the presenta-
tion of legal tender notes for redemp-
tion in coin.
For the seven months beginning with
last December upwards of ISL, 900 600
was drawn out of the treasury in re-
demption of notes, and the gold re-
serve was reduced during the same
period bv S29, 1000, 600 During the next
three months, with light redemptions
and n deficiency of sio, OOO, 900 in the
revenues, the treasury lost els, 900, 900 of
gold, but the reserve fell of only S2,-
900, COO
The amount Of gold exported during
the fiscal year was the largest ever
taken out of the country or brought
into IL IN any like period, being up
wards OF slOs, COO, 600, and IL is noted
that SlO2. 600, 600 Of il 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 Il is the first time that
any considerable sums of notes have
been presented for the metal.
With the exception of an increase OF
s45, 10000 in the amount of treasury
notes issued in the purchase of silver
bullion, and u decrease of $50, 900, 900 in
the combined volume of gold certifi-
Gates and currency certificates, there
has been no important change in the
public debt
the total stock money of all kinds in
the country on June 30, was $685.
547,977, or nearly S5l 900, 900 less than
at the same time last year. This con-
traction took place, Notwithstanding
the addition Of si5, 500. 900 10 the stock
Of silver and an increase of
S6,OOO,OOO ia the outstanding
bank notes, and was caused. Of course.
by the exports of gold. In July, how
ever, there began heavy return
movement of the metal, supported by
a rapid extension Of the bank note cir
culation. 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 less |
than SJ5, 900, 900, bringing it up 10 fig |
ure much above the highest ever before |
reached The treasurer remarks that !
this sudden contraction and expansion |
within the space of eleven months af- |
fords a striking illustration of the de-
gree of hexibility possessed by the cur
rency.
The revised figures for the amount of
money in circulation. that is outside of |
the treasury on June 30, place it at
81, ,596, SAG, $50, or about $4,000, 900 less
than IL was a year before. During the
four months ending with October there
was an increase Of sl25 900, 600, a record
without parallel in the his
tory of the country The aggregate OF
money in the hands of the people an
the average per capita were thus
brought to a higher figure than had
ever before been reached.
The redemptions Of United States pa
per currency have been unusually
heavy, amounting 10 s377, 900, 900 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 subsidiary
silver, an improvement that is expected
TO Increase the popularity and useful.
ness of this part OF the currency.
Violence on the Lehigh.