The McCook tribune. (McCook, Neb.) 1886-1936, 1893-12-08
TREASURY DEPARTMENT.
Condition of National Finances.

TREASURY DEPARTMENT,
Condition of National Finances.
The secretary of the treasury reports
that the receipts of the government from
all sources during the fiscal year ended
June 30, 1898, amounted to $461, ZIG, SCI. 81,
and its expenditures to S459,374 674 90.
There was collected from customs $205. :
355,Ol6. %, and from internal revenue S161,
O27,623.93. Our dutiable imports amounted
to 1921 $50, I'll, an increase of S52, 453, 907
over the preceding year, and importations
free of duty amounted to S4H, 54, 211, de-
crease from the preceding year of SIS, 49,
Al. Internal revenue receipts exceeded
those OF the preceding year by 81, 147, AS. 80.
We exported merchandise during the year
amounting to $S47. 665, 1914, a decrease of
S1S2,6l2,9 54 from the preceding year. The
mount of gold exported was larger than
any previous year in the history of the
government, amounting to sos, $50, S44,
n exceeding the amount exported dur
ing the preceding year by S5S, 4S5,517. The
sum paid from the treasury for sugar
bounty was S9,375, 1876. So, an increase over
the preceding year of 81, OBS, 053. %.
1t is estimated pom the blsis of present
revenue laws that the receipts of the gov
eminent for the year ending June 80, 1894,
will be $3.50, 121, 365. 3S. and it's expendi-
lures. $45S, l21. 365. SO, resulting in IA de-
ficiency of S2S, 900, 900. On the first day of
November 1893, the amount of money of
all kinds in circulation or not included in
treasury holdings was 81. u.s. 44, $50. an
increase for the year of S1l2, 404, 947. Esti-
mating our population at 81, 426. 900 at the
time mentioned the per capita circulation
was S25. 40. On the same date there was in
the treasury gold bullion amounting to
500. 657 273, and silver bullion, which was
purchased at a cost of S12S. 261, 553.
Silver Purchases.
The purchases of silver under the
law of July IA, 1899, during the last fiscal
year. aggregated 81. 0O8, 1898 fine ounces
which cost S45. 531, 374.S3
The total amount of silver purchased
from the time that law became operative
until the repeal of its purchasing clause
on the first day Of November 1898. was
163, GA, 590.4 6 fine ounces which cost S155,-
$50, 940.S4.
Between the first day of March 1873, and
the first day of November. 1898, the gov
eminent purchased under all laws SOB
DOB, III fine ounces of silver at a cost of
S516, 622, 94S.
under the act of July, II. 1890, number
SO. 0S7, 2S5. The seignorage arising from
such coinage was S6,9 17, 03S. SO, leaving on
hand in the minis 40, $50, 760 fine ounces
of silver which cost s126, 518. 21S.
Our total coinage of all metals during
the last fiscal year consisted of 81, 2sO, SIS
pieces, valued at S43, 6S5. 1850, of which
there was $50, OBS, 40 in gold coin, S., 3d.
lis in silver dollars. s7,217,2 21.9 80 in sub
sidiary silver coin and S1,USj, 1O2. 80 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 COM
mercial and coinage value of S33, 600, 900,
and 5s,0O0,0 900 fine unces of silver of the
bullion or market value OF $50, $50, 600 and
of the coinage value of STA, 9S9, 900.
1t is estimated that on the 1st day of
July, 1898, the metallic stock of money in
the United States, consisting of coin and
which 1897 $751; S5 was gold and s615, $751;
4S4 was silver.
National Banks.
One hundred and nineteen national
banks were organized during the year end
ing Oct. 81, 1888. with a capital of S11, 23O,
0O0. Forty-Slx went into Oluntary LIQUID
alton and l5S suspended. Sixty-ive OF the
suspended banks were insolvent, So re-
sumed business and Z remained in the
hands of bank examiners with prospects
of speedy resumption.
The total number of national banks in
existence on the 31st day of October, 1893,
was 3, 1876, having an aggregate capital of
$685., SIS, l20. The net increase in the circu-
lat1on Of these banks during the year was
Sco.CCO,Jt~. Liz IcCSub E0pedl OIL tQ0 prOr
vision of the law requiring the purchase of
silver bullion by the government as u
feature OF our monetary scheme. has made
an entire change in the complexion of our
currency affairs. lido not doubt that the
ultimate result of this action will be most
salutary and ~far-reaching. In the nature
OF things, however. it is impossible to
know at this time precisely what condi-
tons will be brought about by the change,
or what, If any, supplementary legislation
may, in the light of such conditions, ap-
pear to be essential or expedient. OF
course, after the recent financial perturba-
ton, time is necessary for the re-establish-
ment of business confidence. When, how
ever, through this restored confidence, the
money which has been frightened into
boarding places is returned to trade and
enterprise, a survey of the situation will
probably disclose a safe path leading to a
permanently sound currency, abundantly
sufficient to meet every requirement. of
our increasing population and business.
In pursuit of this object we should reso-
lutely turn away from alluring and tenn
porary e~xpedients, determined to be con-
tent with nothing less han a lasting and
comprehensive financial plan. In these
circumstances | am convinced that a
reasonable delay in dealing with this sub
ject instead of being injurious will in
crease the probability of wise action.
Monetary Conference.
The monetary conference which assem-
bled at Brussels upon our invitation
was adjourned to the Goth day of
November in the present year, for
the considerations just stated and the fact
that a definite proposition from us seemed
the conference, led me to express a will
inoneSc tn hava tho maatipu still furthor