Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-11-27

the Treasury's Gold for the Re
demption Of Notes and Certii-
oates-The Report Of the Agri-
cultural Department-The New
Tariff Bill-Other Washington
News.
WAsH1veroS, November 96.-United
States Treasurer D. n. Morgan has sub
mitted to Secretary Carlisle rs annual
report on the operations and conditions
OF the treasury. It shows that the net
ordinary revenues for the fiscal year
1898. were S3s5, ,s19,62s, an increase Of
$50, ss1, ,s44 over those Of the year be-
fore. The net ordinary expenditures
we're 1888, 447, ,554, an increase Of $685.
454, ,623. There was, therefore, a de-
crease Of S7,779, no, in the sur
plus revenues, reducing them to
S2,341,674, including the pub
Tic debts. The total receipts were $780,
s71,944, and the total expenditures
S7ss, OO7. 99S. The public funds amount
ed on June so, 1892, to S7S6, 35l,7 1885,
and on June 30, 1898, to S746,53S,6 ,655.
After setting apart those sums Of gold,
silver and United States notes which
were held for the redemption Of certif-
Gates Of deposit and treasury notes,
there was left a reserve or general
fundof S1S7, ,O12, 74O In 1892 and
S16s, ,167, 301 in 1898. These amounts,
however, included certain sums
Of certificates OF deposit bonds
and coupons, which were IN
available for any ether purpose than
than the settlement OF the treasurer'S
act, and which. II cancelled, would
have left an actual available work. ng
balance OF S165. .945. $50 and S156, 200, 500
on the two dates respectively. BY Sep
tember 30, this balance has been di-
minished 20 S14S,25O 269, owing
to a deficiency 10 the revenues.
In seven months, beginning with
last December, upwards Of $4,000, 600
was drawn out Of the Treasury in the
redemption OF notes, and the gold re-
serve was reduced during the same pc
riod bv 500. 600, 900. During the next
months, with light redemptiOns snd
deficiency Of $40, 900, 600 Ia the reve-
nue.. the Treasury lost $4,000, 600 Of
gold, but the reserve fell of only 81
1000.
THE AMOUNT OF COLD
during the fiscal year was the largest
ever taken out OF the country or brought
into it in a like period, being up
wards Of S1OS, 600, 600. or it was drawn
out OF the treasury by the presentation
Of legal tender notes. Most Of the gold
exported in former years was supplied
by the treasury In exchange for gold
certificates, aud the report says tt is
the first time that any considerable
sums of notes have been presented for
the metal.
With the exception Of an increase Of
S45, 500, 600 In the amount Of treasury
notes issued In the purchase OF silver
bullion and a decrease Of $4,000, 600 in
the combined volume Of gold certii-
Gates and currency certificates, there
has been the report says, no important
change in the public debt.
According 20 the revised estimate,
the total stock OF money OF all kinds in
the country on June 80, was $3.50
547, or, or nearly S5O,O0O,OO less than
aI the same time last year. The con-
traction took place, Notwithstanding the
addition of S45, 500, 600 70 the stock OF
silver and an increase Of S6,O00,000 in
the outstanding bank notes and was
caused by the exports OF gold. In July,
however, there began a heavy return
movement OF the metal supported by
rapid expansion Of the bank
note circulation. by the end of Sep
tember the stock Of gold was restored
90 what it was when the exports began.
The total increase of the effective stock
Of money in the three months was no
lower than sos, ,OOO, 600, bringing it up
10 a figure much above the highest ever
reached before. The TreaSurer's re-
marks that this sudden contraction aud
expansion within the space Of eleven
months affords a striking Illustration
Of the degree Of fexibility possessed by
the currency.
THE REVISED FIGURES
for the amount OF money ia circulation,
that is, outside of the treasury, on June
80. places 10 at l.596, $40, 500, or about
S6 600, 600 less than it was a year be-
fore. During the four months ended
with October there was an increase of
Sl25. 900, 600, a record altogether With
out parallel in the history Of the cOun-
try.
The redemption Of United States pa
per currency has been unusually heavy,
amounting 60 S377, 900, 900 10 the hf-
teen months ended with October.
During the past two fiscal years there
was recoined nearly one-fith part Of the
whole estimated stock Of subsidiary sill
yer, an Improvement the report says,
that is expected to increase the pOpu-
larity and usefulness of this part OF the
currency Contrary TO expectations,
THE COLUMBIAN SOUVENIR COINS
have not proved popular. Some Of
them were never taken out Of the
treasury, and others have been return
ed for redemption. An arrangement Is
in contemplation under which the nalf
dollars in the treasury will be recOined
az the expense Of the management Of
the Exposition. il has not vet been
decided what disposition is TO be made
Of the quarter dollars Of this coinage
not disposed Of.
Although the nominal amount of
counterfeit coins and paper cOrreney
presented at the treasury was greater
than 10 the previous year, the increase
was less prOpOrtionately than the in
crease Of the amountO of money handled
Considerable additions we4e made to
the bonds held In trust 1ationol
banks aud for the Pacific sink
ing fund.
The Treasurer conclud ging