The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1893-12-01
THE TREASURY.
Annual Report Of the United States
Treasurer.
Condition Of the National Cash BOx-Fluc'
tuation of Bullion-GOld Exports aud
the Amount Of Money In Cir
culatiOn.
Treasurer's Report.


WASHINGTON. Nov. %. - The treas
urer of the United States, Hon. ID. n.
Morgan, has submitted to Secretary
Carlisle the annual report on the oper'
atoms and condition of the treasury.
The net ordinary revenues for the
fiscal year were 1885 s19, CPS. IS, an in
crease of $50, ISL, s44. 81 over those of the
year before. The net ordinary eXpend-
itures were 1888. Az, 554. 40. an increase
of SIS. 454. 623.9l. There was. therefore.
a decrease of 1852. !79. 81 in the surplus
revenues, reducing them to So, 34l, ga. 90.
Including the public debt, the total re-
ceipts were 1872, ST., PATS, and the to-
tai expenditures s773, OO7, 99S %.
The business of the treasury has
been conducted through the main Of
fee at Washington, nine sub-treasuries.
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 pub
lie funds. which amounted on June 30,
1892, to S7S6. 351, sos. II, and on June 30,
1893, to STAG, 53s, 655. IS. After 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
was left a reserve or general fund
of $751;. OLE. 740 II in 1892, and s16S. 167,-
SOL IS in 1898. These amounts, how
ever, included certain sums of certifi-
Gates of deposit, bonds and coupons,
which were unavailable for any other
purpose than the settlement of the
treasurer's account, and which, if can
celled, would have left an actual avail
able working balance of sl65. 945, 1856 60
and s156, 395, 693 81 on the two dates re-
spectively. BY September 30 this bal
ance had been diminished to e149, $50,
26S 72 owing. of course, to a deficiency
in the revenues.
At the end of September, 1883, the
treasury held $685.. 551, 3O6 of gold, the
largest amount ever reported. The
largest amount of free gold ever held
was s21s,sls. 253, in March of the same
year. The lowest points touched since
then were s16O, 1853 5s4 of total holdings
and ss1. SOL 1855 of free gold on October
-. In April, for the first a6me since
the gold reserve reached the sum of
500, OOO. 600, it fell below that figure,
and on the 14th of that month the issue
of gold certificates was suspended, as
required by law. The loss of gold was
caused partly by deficiencies in the
revenues, but chiefly by the presenta-
ton of legal tender notes for redemp-
ton in coin.
For the seven months beginning with
last December. upwards of $1,000, 900
was drawn out of the treasury in re-
serve was reduced. during the same
period by sa9,OOO.O00 During the next
three months, with light redemptions
and n deficiency of SIS. 600, 900 in the
the treasury lost SIS, OOO, 600 of
gold, but the reserve fell off only S.
GOO. 600.
The amount of gold exported during
the fiscal year was the largest ever
taken out of the country or brought
into it in any like period, being up
wards of Sos. GOO, 900, and it is noted
that siO2. ZOO. 600 of 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. and it 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 $50, OOO, 900 in
the combined volume of gold certifi-
Gates and currency certificates, there
has been no important change in the
public debt.
According to the revised estimates
the total stock money of all kinds in
the country on June 80, was g, $685.
547, 977, or nearly ISL. ZOO, 900 less than
at the same time last year. This con-
traction took place. notwithstanding
the addition of $45, 5000 to The stock
of silver and an incIease of
100000 in the outstanding
bank notes, and was caused. of course.
by the exports of gold. In July, how
ever. there began a heavy return
movement of the metal, supported by
a rapid extension of the bank note cir
culation. 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 no less
than sos, OO0, 200. bringing it up to fig
ure much above the highest ever before
reached The treasurer remarks that
this sudden contraction and expansion
within the space of eleven months at
fords a striking illustration of the de-
gree of fiexibility possessed by the cur
rencv.
The revised figures for the amount of
money in circulation that is outside of
the treasury, on June so. place it at
81. 59o. SAG $50, or about 5000. 900 less
than it was year before. During the
four months ending with October there
was an increase of sl25. 600. 600, record
altogether without parallel in the his
tory of the country. The aggregate of
money in the hands of the people and
the average per capita were thus
brought to higher figure than had
ever before been reached.
The redemptions of United States pa
per currency have been unusually