Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1893-12-07
FINANCES OF THE NATION.
Report Submitted by the Secretary Oh
the Treasury.

The secretary of the treasury reports tnat ~, tne
receipts of the government from all LIS sources our
ing the fiscal year ended June 81 1879, o n!s
to S461 7165 SCI, and its expenditures 70 s4999 nt
$40. There was collected from customs s2o2,-
355, 01673 and from internal revenue slol, ~
62395 Our dutiable pc M a7 nrer the To nre
ceding wear, and importations free OF
duty amounted to s444,54l,211, de-
sis s ,447. Internal revenue receipts exceeded
those of the preceding year by sI'l4 40 81.
The total tax collected on distilled spirits was
S94, 720, 26O So on manufacturer tobacco, SOL
sSo71I'71, and on fermcnted liquors, $50, 54S-
9S3 or The exported merchandise during the
wear amounted to SS47,66 o,l9l, decrease OF
smount of gold exported was larger than any
previous year in the history of the government,
amounting to S10s6s0,S44, ana exceeding the
amount exported during the preceding year by
s5S, 4S5,5l7. The sum paid from the treasury TOR
sugar bounty was S9,375. IS. an increase over
the preceding year of 50 0;;3 ,053.09.
1t is estimated upon the basis OF present reVc-
nue. laws that the receipts of the government
for the year ending June 80, 1894, Will be S4o0,-
12l 365 IS and its expenditures S43S III .5653S re-
sultng in deficiency OF 5000, ooo. On the
first day of November 1898, the amount of money
of all kindsin circulation or not lncluden III the
treasury holdings was 81, us, ,6o2 an increase
for the year of SIP, 40l.947 Estimating our pop
ulat:on at G7,426, 900 at the time mentioned,
the per capita circulation was S25.49 on the
same date there was in the treasury gold bullion
amounting to S96,657,273 and silver bullion
which was purchased at a cost of $126 POI SOB.
The purchases of silver under the law or July
a. 1890 during the last fiscal year aggregated
81 OOS, 6259 fine ounces, when cost S43,33l,
374 S. 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, was 1864 $50. l6 fine
ounces which cost S155,930 940.S4. Between the
LIST day Of March, 1873, and the LIST day of No
vember, 1898. the government purchased under
all laws SOB 005,711 fine ounces OF silver at cost
of S516, 622,94S The silver dollars that have
been coined under the act of July IA, 1890, num-
Der, 56,os7,=S5 The seigmo n e arising from
hand in the minis li0,69, 160 tine
ounces of silver which cost S126,51S,21S:
Our total coinage of all metals during the last
fiscal year consisted of 97,2s0,s75 pieces valued
gold COIN $50, 437 Is in silver dollars, s., 1880
in subsidiary silver coins, and S1,OS6, lO29o III
minor coins.
During the calendar year 1892 the production
of precious metals in the United States was estl
mated at ,596375 fine ounces Of gold of the com
mcrcial and coinage value of S53 100000, and So,
900, 600 fine ounces of silver of the bullion or
market value of $50, 10000 and of the coinage
LIST day of July 1888, the metallic stock Of money
in the United States, consisting Of coin and bull
ion, amounted to Sl,2l3539, 1863, OF which So9',-
697, 6S5 was gold and S615, SCI ,4S4 was silver.
One hundred and nineteen national banks
were organized during the year ending october
81, 1898 with capital Of ll..30 coo. Forty-six
went into voluntary liquidation and 1873 sus
pended. Sixty five of the suspended banks were
insolvent, ST resumed business ana remained
in the hands Of bank examiners with prospects
of speedy resumption OF the new banks organ
lied a. were located i'll the Eastern states, ii west
of the Mississippi Rivera and "a in the Central and
Southern states. The total NUMBER OF national
banks in existence on the 31st day of October,
1898, was 1896, having an aggregate capital of
$685., 55S l20 The net increase in the circulation
of these banks during the year was s36,SS6,912.