Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1893-11-30
CASH IN THE COUNTRY.
Treasurer Morgan Reports on the Condi.
ton OF the Treasu~y.

AEe1buTer 04OESsa1 kS0pf0rCs OF tn0 SCO00l.
ton of the Treasury.
WASHINGTON. Nov. 20 X United States
Treasurer d. N Morgan has submitted to
Secretary Carlisle nls annual report on the
operations ana condition Of the treasury. It
shows that ths net ordinary revenues for the
fiscal year 1893 were sss5, sl9628, an In
crease Of $50 49,. 844 over those OF the year be.
fore. The net ordinary expenditures wer
siSs, ~, 554. an increase Of i2S, 454623. There
was. therefore, a decrease OF. s7,772 re in the
surplus revenues. reducing them to &2,341674.
Including: the public debt the total receipts
were ,2l4 and the total expenditures
d7I3 O07.928.
The public funds amounted on June 30, 1892,
to S786 goa, and on June 80, 1893 to $748,
5SS, 65a Alter setting apart those sums OF
gold silver and United States notes which
were held for the redemption Of certificates Of
deposit and treasury notes there w.s left q
reserve. or general fund, Of &lS7,0l2.740 in
1892 and Sl63 !67, 1871 In 1893 These amounts,
however. included certain Gums or certificates
OF derost, bonds and coupons which were un.
available Tor any other purpose than the settle
ment OF the 1reasurer's account and which, II
Cancelled. would have left an actual available
working balance of al65 9i5 1856 and S15v 295 So on
the two notes, respectively.
by September 80 the balance had been dimn
isheo to ali9,2O 268. owing to deficiency in
the revenues. In seven months, beginning
with last December. upward OF 8l.C0O. 600 was
drawn out Of the treasury IN redemption o.
notes, and the gold reserve was reduced during
the same period by s29,OO0OJO. During the
next three months, with light redempt,ons and
deficiency OF Sl9,0O0.0O0 in the revenue, the
| treasury lost $l5VOO.0JO Of gold but the re-
serve fell OF only s2,CO000o.
The anOnnt Of gold during the fiscal year was
the largest ever taken out Of the country or
nrhf in fn " tod boin ord
o: $4,000 oL0, and that s1Oa OOO,0o0 Of it was
drawn out of the treasury by The presentation
OF legal tender notes. Most of the gold ex-
por led in former years was supplied by the
treasury in exchange for gold certificates. and
the report says l. Is The first time that any
siderable sums have Teen presented tor the
metal .s ~, "a.
With the exception OF an increase OF "a. 500, !.
900 in the amount OF treasury notes. issued ia
the purchase OF silver bullion and o decrePs
OF ;6OOO0,UOO 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 or all kinds in the country on
June 30 Was -. 323,547977, or nearly Isl. 900 00J
| less than Ut the came time last year This
contraction took place notwilhs landing the
addition OF s45, OOO,0O to the stock Of
| silver and All increase of 5000, JOJ in
the outstanding bank notes, AMI was caused by
| the exports OF gold In July. however, there
began heavy return movement Of the metal.
supported by rapid expansion OF bank note
circulation BY the end of September the
stock OF gold was restored to what it was
| when the exports began. The total increase OF
| the effective stock Of money in the
three months was 10 lower than S95, OOO,
| 0oO, bringing it up TO figure much above the
| highest ever reached before The treasurer
| remarks that this sudden contraction and ex.
pansion within the space Of eleven months A.
| fords u striking illustration Of the degree of
fexibility possessed by me currency.
The revised figures for the amount of money
! in circulation, that is outside the treasury on
June 3d. place it at ST, 598 SAG $40 or about 10,
O0l, 600 less than it was year before During
the four months ended with October there was
! ar increase OF s12o .OO0.u0 record altogether
| without parallel in the history Of the country.
The redemption OF United States paper cur
rency- has Teen unusually heavy, amounting
| 10 s377,OJO.0O in the fifteen months euded with
October.
During the last two fiscal years there was re-
coined uearly one fifth Of the whole estimated
| stock OF silver, an Improvement the repor,
| says that is expected to increase the popular.
ity and usefulness Of this part of the currency.