Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-12-02
CASH IN THE COUNTRY.
Treasurer Morgan Reports on the Condi-
tion OF the Treasury.

ton OF the treasury.
WASHINGTON, Nov. 2S - United States
Treasurer d. N, Morgan has submitted to
Secretary Carlisle his annual report on the
operations and condition of the treasury. 1t
shows that the net ordinary revenues for the
fiscal year 1898 were 1886 si9, ,Gos, an in
crease OF $50 SSl,SH over those OF the year be-
fore. The net ordinary expenditures wer
1888, 1854, an increase of s2s, i54 623 There
was, therefore, a decrease of ST7T2, ~ in the
surplus revenues reducing them to S2,3 ,674
Including the public debt the total receipts
were s7S2,SIl,24 and the total expenditures
Sta O079Qs
The public funds amounted on June 30, 1892,
10 $3.50, 1851 s95, and on June 30, 1898, TO $40,
b3s,655. After setting apart those sums OF
gold, silver and United States notes which
were held for the redemption of certificates Of
deposit and treasury notes there was left
reserve, or general fund, of SlSIOl21i in
1892 and Sl6s,!6T,3gl in 1893 These amounts,
however, included certain sums of certificates
OF deposit, bonds and coupons which were un-
available for any other purpose than the settle
'ment OF the treasurers account, and which, II
Cancelled, would have left an actual available
working balance of Sl65 9i5 1856 and Sl5g 295 60
the two notes, respectively.
BY September 30 the balance had been dimin-
ished to Sli9 $50, PES owing to n deficiency in
tine revenues In seven months beginning
with last December, upward OF Ssl ,0O0, 000 was
drawn out of the treasury IN redemption of
notes. and the gold reserve was reduced during
the same period by S29,000,0OO. During the
next three months with light redempuons and
a deficiency of Sl9OOO,OOO in the revenue, the
treasury lost sl5,OOOO)O of gold, but the re-
serve fell of only i2,OOO,O0O.
The amonnt Of gold duefng the fiscal year was
the largest ever taken out of the country or
brought into it in like period, being upward
of SlOsOO0, OOO, and that O2,OOOOoO 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 IL Is the first time that any con-
siderable sums have been presented for the
metal
With the exception OF an increase OF SI5 5O0,-
900 in the amount of treasury notes issued in
the purchase OF silver bullion, and decrease
of SSOO00,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 all kinds in the country on
June 80 was So 1923 1871 or nearly sol, l,00O,00O
less than at the same time last year This
contraction took place notwiths tanding the
addition OF S45O00,00O TO the stock of
silver and an increase of S6,OOO,)O0 in
the outstanding bank notes, and was caused by
the exports of gold. In July, however, there
began heavy return movement of the metal
supported by rapid expansion of bank note
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 lower than S95,0OO,-
0O0 bringing it up 10 figure much above the
| highest ever reached before. The treasurer
| remarks that this sudden contraction and eX-
| panson within the space of eleven months af-
| fords striking illustration Of the degree of
| heNlbility possessed by the currency.
The revised figures for the amount of money
| in circulation, that is outside the treasury en-
June 30, place 1t at 81, 800 si6 S29, or about s6
| 00O0 900 less than it was year before. During
| the four months ended with October there was
| an increase of Sl25 100000, record altogether
| without parallel in the history OF the country.
| The redemption OF United States paper cur
| rency has been unusually heavy, amounting
| 20 S3TT0O0,0OO in the fifteen months ended with
| October.
During the last two fiscal years there was re
| coincd nearly one fifth of the whole estimated
stock Of silver an Improvement the report
| says that is expected to increase the popular
ity and usefulness OF this part of the currency.