The Bessemer indicator., 1893-12-02
WASHINGTON NEWS.
DEPARTMENTAL REPORTS.
o..a,.,.. Of IL. rr...-r, for tn. Fiscal

Csadisisa ef the Trsssury for the Fiscal
United Btates Treasurer D. N. Morgan has
submitted 70 Secretary Carllsle his annual 70
port Of the operations and condition Of the
treasury. It shows that the net ordinary rcvc-
nucs for the fiscal year 1893 were sSS5, SIS, ,62s'
m increase of CSC, ,ssl. .sA over those OF the
year before. The net Ordinary expenditures
were e3s3, AT ,554, an increase Of sss, +o5 G23.
There was, therefore, decrease OF u, ,H2,17s
In the surplus revenues, reducing them to
q, ,S4l, GA. Including the public debts, the
total receipts were t78a, ,s7l ,2i4, and the total
expenditures s773 007, ,00s. The public funds
amounted June 80, 1892, to e7S6, ,35l, s95, and
June 80, 1893, to e74o, ,5ss ,6s5. After setting
apart tho sums of gold, silver and United
States notes which were held for the redcmp-
tion of certificates OF deposits and treasury
notes, there was left reserve or general fund
Of sls7 ,0l2,740 In 1892, and si6s, lG1 ,39l In
1893. These amounts, however, included Ger
tain sums Of certificates Of deposit bonds and
coupons which were unavailable for any
other purpose than the settlement OF the
treasurss's account and which, II cancelled,
would have left an actual available working
balance Of tl65 945, ,Ss6, and sl56, ,995, ,G9d on
the two dates respectively. By September 30
this balance had been diminished to tl49,-
.50, 26S, owing to a deficiency In the revenues,
In seven months, beginning with last Dcccm-
Der, upwards of ISL ,000, 900 was drawn out OF
.hc treasury in redemption notes and the gold
reserve wns reduced during tho same period
By 100000 900. During the next three
months, with light redemptlons and II de-
al. x,fE tn, thn rava
treasury lost si5, 600, 900 of gold but the re-
ierve fell OF only sa,O0O,ooo
The amount of gold during the fiscal year
was the largest ever taken out OF the country,
Or brought into 1t in like period, being up
wards Of los, 600 900, and that sl02 900, 900 OF
1t was drawn out OF tho treasury by the pre-
sentation OF legal tender notes Most OF the
gold exported in former years was supplied
by the treasury In exchange for gold ccrtlfi-
Gates, and the report says that it is the first
time that any considerable sums Of notca have
been presented for the metal
With the exception of an increase OF si5,-
500, 900 In the amount of treasury notes, is-
sued ln the purchase of silver bullion and q
decrease Of 800, 600 900 In the combined vol
umc of gold certificates, there has been, the
report says, no important change In the pub
lie debt. According to the revised esti mate,
the total stock of money Of all kinds In the
country June 80, was s., 3a3, ,547 ,977, or nearly
e5l 900, 600 less than at the same tlme last
year This contraction took place, notwith-
standing the addition Of S45, 100000 to the
stock OF silver and an increase OF $1,000 900
In the outstanding bank notes and was
caused by the export, OF gold. In July, how
ever, there began heavy return movement
Of the metal, supported by a rapid expansion
OF bank note circulation. BY the end OF Sep
tember, the stock OF gold was restored to
what 1t was when the exports began. The
total increAse of the elective stock OF money
In the three months was no lower than $685.
DOC, 900, bringing 1t up to figure much above
the highest ever reached before. The treas
urer remarks that this sud den contraction
aud expansion within the period OF eleven
months, affords striking illustration OF the
degree of Hexibility possessed by the cur
rency.
Tho revised figures for the amount Of money
In circulation, that is, outside OF the treasury
On June 80, places 1t at tl,956, ,s46,s29, or
about %, ,000, 900 less than It was year be-
fore. During the four months ended with
October, thcro was an increase OF $l25, 900 900
record altogether without parallel In the
history Of the country. The redemption OF
United States paper currency have been un-
usually heavy. amounting to $3T7, 900 in
the fifteen months ended with October
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