The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-12-06
CONDITION OF THE TREASURY.
observations Concerning Our FL
gsances-J = silver Question.

Hances-T = silver Question.
The secretary OF the treasury reports
that the receipts OF the government from
all sources during the fiscal year ended
June go 1893 amounted to s46l, 1861. 81
and its expenditures Si59,374.67429 There
was collected from customs S205, ,355 Ol6.73
and from internal revenue S1S1, ,O27, Sc. 90.
our dutiable imports amounted to Si21, ,S56,-
Ill, an increase OF $52, ,453,907 over the pre-
ceding year, and importations free Of duty
amounting to Sl44,5H,211, a decrease from
the preceding year of $13, 455. AT. Internal
revenue receipts exceeded those of the pre-
ceding year by S7,147. 1882. The total tax
collected on distilled spirits was S94,72O,-
26055, on manufactured tobacco S31, $50. III
"a. and on fermented liquors $50, ,54S, ,9S3.07.
We exported merchandise during the year
amounting to 1905, ,194. a decrease of
SIS. .6l2 g54 from the preceding year. The
amount of gold exported was larger than
any previous year in the history of the
government, amounting to 0S.6S0.S44, and
exceeding the amount exported during the
previous year by SOS, ,4S5,51 The sum paid
from the treasury for sugar bounty was
s9.S75.1So S. an an IL, INCREASE over the preceding
year of S2,03S O53-O9. 1t is estimated upon
the basis of present revenue laws that
the receipts OF the government for the
3c5 Ss. and its expenditures S45S 12i S65 SS, re-
sulting in a deficiency of S2S.OO0OO0.
on the 1st day OF November, 1893 the
ton, not included in treasury holdings
was $l,TS,544 So, an Increase for the year
of SIP 40t s47- Estimating our population
at 67.426,OOO, at the time mentioned, the
per capita circulation was SO. on the
same date there was in the treasury gold
bullion amounting to s96.657.273. and silver
bullion which was purchased at a cost of
S126. .261, ,553
The purchase Of silver under the law of
aggregated glg f' 546S 1s25s fine % Ounces. i Which
cost S45 So, ,374.53. The total amount of sill
yer purchased from the time that law be-
chasing clause, on the lst day Of Novem
ber 1888 was 1853 674,590. 46 fine ounces, which
cost Sl55. $3.50 94OS4 Between the 1st day of
March. 1873, and the 1st day of November
1898, the government purchased under all
laws M fine ounces Of silver at
cost of $516,62294S The silver dollars that
have been coined under the act of July IA.
1890 number 36OS7, 2S5. The seigniOrage
arising from such coinage was S6sT7, ,OsS 80,
leaving on hand in the mints 760 fine
ounces of silver which cost S126, 75S.21S
Our total coinage Of all metals during
the last fiscal year consisted of Ss7, 2S0,S75
pieces, valued at S4S 1855 1850. Of which
there was S30O3S,140 in gold coin, s5343,7 us
in silver dollars s7,2l7 22O.9O in subsidiary
During the calendar year 1892 the pro-
duction of precious metals in the United
States was estimated to be l,5s6Sl5 fine
ounces of gold of the commercial and coin
age value Of $50. 900 600, and 53O000O0 fine
ounces of silver of the bullion or market
value Of $50,750.000 and of the coinage value
OF s74 9se 900 1t is estimated that on the
1st day of July, 1893. the metallic stock of
money in the United States, consisting OF
coin and bullion, amounted to a.2lS559, 1853,
OF which s597, ,697, ,6S5 was gold and $615 $751; asa
was silver.
One hundred and nineteen national banks
were organized during the year ending
Oct. 81, 1893, with a capital of S11, ,2S0 900.
Forty-six went into voluntary liquidafion
and 15S suspended. SiXty-five of the sus-
pended banks were insolVent eighty-six
resumed business, and seven remain in the
hands Of bank examiners with prospects
or speedy resumption. OF the new banks
organized forty-four were located I'm the
eastern states, forty-one west of the Mis-
and southern states The total number of
national banks in existence on the 3lst day
of October, 1S43 1886 The net increase
in the circulation of these banks during
the year was $S6SS6,972.
The silver Question.
The recent repeal of the provision of law
requiring the purchase of silver bullion by
the government as a feature of our none
tary scheme has made an entire change
in the complexion of our currency affairs
l do not doubt that the ultimate result Of
this action will be most salutary and far
ever. IL is impossible to know at this time
precisely what conditions will be brought
about by the change, or what, If any, sup
Elementary legislation may, i'm the light Of
such conditions, appear to be essential or
expedent. OF course after the recent
financial perturbation, time is necessary for
the re-estabshment Of business confidence.
When, however, through this restored
fidence, the money which has been fright
ened into boarding places is returned to
trade and enterprlse . surycT Of the situa-