New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-27
A YEAR OF FLUCTUATIONS.
ANNUAL REPORT OF UNITED STATES
TREASURER MORGAN.
GOLD RESERVE REDUCED TO ITS LOWEST FLO
UREs-HEAvIEsT EXPORTS EVER KNOWN
VOLUME OF MONEY IN CIRcULA-

| Washington Nov 26.-The Treasurer OF the United
States has submitted to Secretary Carlisle the an
| nual report on the operations and conditions OF
| the Treasury.
The net ordinary revenues for the fiscal year
were s3ssl962s r. increase Of fsOsi.ssi 81 over
those of the year before. The net ordinary ex-
penditures were s3s3 55i ~. an Increase OF Ss
"a c23 81 There was therefore decrease OF Tj12.-
TO 81 In the surplus revenues. reducing them TO
s23n,Gi29 %. Including the public debt. the total
receipts were s732 PA 49, and the total expendi-
lures S773.J1.99S 20.
The business OF the Treasury has been conducted
through the main Office at Washington. nine sub
Treasures five minis five assay offices. and about
100 National banks designated to act as United
States Repositories Each Of these institutions held
part OF the public funds which amounted. on June
90 1892 to $7ss 35i ss5 II. and June 80 1893. to
s7iG 538 C,5 S. After setting apart these sums OF
gold. silver and United States notes. which were
held for the redemption OF certificates OF deposit
and Treasury notes. there was left a reserve. or
general fund OF Sls70l.7iO Il In 1892. and St6ls'-
s9l IS In 1899 These amounts. however, Included
certain sums OF certificates OF deposit. bonds and
coupons which unavailable for any other
purpose than the settlement OF the Treasurers
account. and which. II cancelled, would have left
AN actual available working balance Of s65.95.iS5 SO
and sl S95 COG 81 on the dates respectively. Ey
September 80. this balance had been diminished to
$40 2Gs r. owing, OF course, TO the deficiency In
the revenues
At the end OF September, 1885, the Treasury held
1882 81 3CG OF gold. the largest amount ever re-
ported The largest amount of free gold ever
held was s2lSSls.253 In March Of the same year
The lowest points touched since then were $780,
1884 OF total holdings. and ssl,5jSs5 OF free
gold on October 10. 1898. In April last. for the
first time since the gold reserve reached the sum
OF sOoOOO0o0. 1t fell below that figure and on the
14th Of that month the issue OF gold certificates
WAS suspended, as required by law. The loss or
gold was caused partly by deficiencies In the
revenues. but chiefly by the presentation OF legal
tender notes for redemption In the coin.
In seven months beginning with; last December.
inward of So, 100000 drawn out OF the Treas
ury in redemption of notes. and the gold reserve
was reduced, during the same period. by s29,0O0.0c0
During the next three months. with light
demptions and a deficiency OF H9.CO.0oo In the
revenues. the Treasury lost sI5co0,oo Of gold bur
the reserve fell of only $2.0Oo.oco.
The amount of gold exported during the fiscal
wear WAS the largest taken out OF the country
or brought into II In any like period. being upward
NJ s,0s COO 900 and II IL noted that 0200000 OF
was drawn out Of the Treasury by the presentation
NJ legal-ender notes. Most Of the gold exported In
former wears was supplied by the Treasury in
exchange for gold certificates. and II Is the first
time that any considerable sums of notes have been
presented for the metal
With the exception OF an Increase OF si5j0).O1)
in the amount OF Treasury notes issued. in the
purchase of silver bullion and n decrease OF $780,.
10000 In the combined volume OF gold certificates