Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1893-12-06
FINANCES OF THE NATION.
Report Submitted by the Secretary of |
f1,o


The secretary of the treasury reports that the
receipts of the government from all sources dur
ing the fiscal year ended June 80, 1893, amounted
to $461, 716 SOL and its expenditures to $3.50 374
GA 30 There collected from customs S2O5-
355,016. 70 and from internal revenue $l61 O27-
62393 Our dutable imports amounted to $421
S56711, an increase of $52,453,907 over the pre-
cedlng year, and lmportations free of
duty amounted to $444, 54l,211 de-
crease from the preceding wear of
$l3455' AZ Internal revenue receipts exceeded
those or the preceding year by $7147,4 AS 81.
The total tax collected on distilled spirits was
S94, 120, 260 80; on manufactured tobacco, $751;
S097lI74, and on fermcnted liquors, $50. 548-
9S3OI The exported merchandise during the
year amounted to $847, G65, 1884, a decrease of
$l82,Gl2,94 from the preceding year. The
amount of gold exported was larger than anv
previous year in.the history of the government,
amounting to $10S,68O S44, ana exceeding the
amount exported during the preceding year by
3o4o2,2lI Inc sum paid from the treasury for
sugar bounty was $9,375 130.SS. an increase over
the preceding year Of 81, 033 053.O9.
1t is estimated upon the basis of present reve-
nue. laws that the receipts of the government
for the year ending June 80, 1894 will be $40
12l 365 SO and its expenditures $45S 1865 So re-
sutlng III deficiency Of SIS, 900 900. On the
first day of November, 1893, the amount of money
of all kinds in circulation not included in the
treasury holdings was $l,18544, 6S2, an increase
for the year of $l12.404.947. Estimating our pop
ulat-On at GA 900 at the time mentioned
the per capita circulation $3.50 On the
same date there was in the treasury gold bullion
amounting to 500 657 ,Z73 and silver bullion
which was purchased at cost of $l2G POI 553
The purchases of silver under the law of july
ii, 1890, during the last fiscal year aggregated
81 ,0OS, so fine ounces, which cost S45, 531, 49,
37453 The total amount of silver purchased
from the time that law became operative until
the repeal of its purchasing clause on the LIST
day OF November, 1898, 16S GA 800 as fine
ounces, which cost 1855, $3.50, 940S4. Between the
1st day Of March, 1873. and the LIST day Of No
vember, 1898, the government purchased under
all laws SOB 0O3 III fine ounces of silver at cost
of S5l6,62294S. The silver dollars that have
been coined under the act of July Ia, 1890 num-
ber, 36,OS7,2S5. The seignorage arising from
such coinage S6,977 ,09S.39, leaving on
hand in the minis 110,G99,760 fine
ounces of silver which cost $126,57S,218
Our total coinage of all metals during the last
fiscal year consisted OF 97.2S0,S75 pieces valued
at SAB $50, 1850 of which there $50 OBS $40 in
gold coin, Is in silver dollars, S7,217 2O 30
in subsidiary silver coins, and 81 0S6, 102 90 in
minor coins.
During the calendar year 1899 the production
OF precious metals in the United States was est
mated at 596,3l5 fine ounces of gold of the com
mercial and coinage value of S33 000. 600. and S.
,00C fine ounces of silver of the bullion or
market value of $50, 900 and of the coinage
value of S74,9S9,900. 1t is estimated that on the
lStday OF July. 1893, the metallic stock of money
in the United States. consisting of coin and bull
ion, amounted TO Sl,2l3.559. 1863, of which 1897
1865 was gold and S615, SCI 484 was silver.
one hundred and nineteen national banks
were organized during the year ending October
81 1893, with a capital Of S11,l3O 900. Forty six
went into voluntary liquidation and 1873 sus-
pended. SiXty-hve of the suspended banks were
insolvent So resumed business and remained
in the hands of bank examiners with prospects
of speedy resumption. Of the new banks organ
lied a were located in the Eastern sta tes Al west
Of the Mississippi River and 81 in the Central and
Southern states. The total number of national
banks in existence on the 3lst day of October
1898 1896 having an aggregate ca pital of
S695 55S, 100 The net increase in the circulation
OF these banks during the year was $50, $780, 72.