Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1893-12-08
CASH OF THE NATION.
REPORT OF TREASURER
MORGAN.


3evssed Figures Presented to Secretary
Csraisls Giving the Coalition Of the Ma
.tional Trsasury-secretary Morton.s De.
partment-lnternal Revenue Bureau Re-
port.
Total Stock of Money.
United States Treasurer d. N. Nor
gan has submitted to Secretary Car
Isle his annual report on the opera
lions and condition of the treasury. It
shows that the net ordinary revenues
for the fiscal year 1893 were 1885, &c.,
62s, an increase of $20,8sl,SA over
those of the year before. The net or
binary expenditures were 1886, Al, 554.
an increase Of $3S, 454, 623. There was,
therefore, q decrease of 81, 772, 77Y in
the surplus revenue, reducing them to
S2,341,674. Including the pubic debt
the total receipts S732,8 PA and
the total expenditures 87773, OO7, 998. The
public funds amounted on June 80, 1892,
to 1856, 351 1895, and on June 80, 1858, to
SAC, 53e, 655. After setting apart those
sums Of gold, silver and the United
States notes which were held for the
redemption of certificates of deposit
and treasury notes there wa left q re-
serve, or general fund, of $l87, Ol2, 74O
in 1882 and $l68, l67, 391 in 1899. These
amounts, however, included certain
sums of certificates of deposit, bonds
n coupons which were unavailable
for any other purpose than the settle
ment OF the ~treasurer's account, and
actual available working balance of
@l65, 94S, 1856 and Sl56, POS, l69 on the two
dates, respectively.
By Sept. 30 this balance had been
diminished to sl49, 25O, 26s, owing to q
deficiency in the revenue. In seven
months, beginning with last Decem-
Der, upward of $751; 900 was drawn
out of the Treasury in redemption of
notes, and the gold reserve was reduced
during the same period by 500, COO, 600.
During the next three months, with
light r~edemptions and q deficiency of
$l9,COO,0O0 In the revenue, the Treas
ury lost $15, o 600 of gold, but the re-
serve fell off only $4,000, 900. The
amount of gold during the fiscal year
was the largest aver taken out of the
country or brought into it in a
like Ieriod. being upward of $685.
100000, and that slO2, GOO, 1000 Of
presentation of l%egal-tender notes.
Most of the gold exported in former
years vas supplied by the treasury in
exchange for gold certificates, and the
report says that it is the first time that
any considerable sums of notes have
been presented for the metal. With
the exception of an increase of $45, $780,
600 in the amount of treasury notes.
issued in the purchase of silver bullion,
n 9 decrease of $50, 900, 900 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 30 was s., 1923 547,-
80, or nearly S5l, 100000 less than at
the same time last year. This con-
traction took place Notwithstanding
OF silver and an increase of SIS, 900, OCO
in the outstanding bank notes. and was
caused by the export of gold: In July,
however, there began a heavy return
movement OF the metal, supported by
q rapid expansion of bank-note circula-
ton. By the end of September the
stock OF gold was restored to what it was
when the exports began. The to-
tai increase of the effective stock
of money in the three months
was no lower than $95, COO, COO,
bringing it up to a figure much
above the highest ever reached before.
The treasurer remarks that this sudden
contraction and expansion within the
space OF eleven months affords q strik-
ing illustration of the degree of fiexibil-
ity possessed by the currency. The re-
vlsed figures for the amount of money
in oir,o,,1ofinn that &, 1rksl A. x.--S
ury on June 80, place it at 81, 500, S46,-
829, or about S6,OOo,OOO less than it was
a year before. During the four months
ended with October there was an in
crease of $125,000, 900. a record alto
gether without parallel in the history
OF the country. The redemption Of
United States paper currency has been
unusually heavy, amounting to $377,-
O0O.OW In the fifteen months ended
with October.
During the last two fiscal years there
was recoined nearly one-ifth of the
whole estimated stock of silver, an i'm.
provement,. the report says, that is ex-
pected to increase the popularity and
usefulness of this part of the currency.
Contrary to expectations, the Column
bian souvenir coins have not proved
popular. Some of them were never
S0NSA ouo VI Vuo Treasury anu OGQorS
have been returned for redemption,
An arrangement has been in contem.
plation under which the half-dollars in
the Treasury will be recoined at the
expense of the management of the Ex-
position. It has not yet been decided
what disposition is to be made of the
quarter dollars Of this coinage not dis
posed of.
SECRETARY MOTIONS REPORT.
The Head of the Agricultural Department
Shows What He Has Done.
The Secretary Of Agriculture, in his
report submitted to the President. re.
grets the vague character Of the de-
partment organization. which he saws.
offers opulent opportunities for the
exercise Of the most pronounced pater-
manv nrOnar wnva in whioh %ho Ma