Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1894-11-29
UNCLE SANS TREASURY.

UNCLE. SANS TREASURY. 4
Morgan Makes His Annual Report to
secretary Carlisle.
WARRINGTON, Nov. 24.-The treasur-
ser of the United States, Hon. d. N.
Morgan, has submitted to Secretary
Carlisle his annual report. The fol-
lowing is synopsis of the document:
The net ordinary revenues for the fiscal year
ending June 3D. cents omitted, were $297 722-
019, decrease OF sss,0976O9 as compared with
the year before. The net ordinary expendi-
lures We're S367 525 ,279. decrease Of $l5 e7A
The total receipts on all accounts were s7a,-
sO06, 538. and the expenditures SC98, 9O8 552
At the close of business on June 30 1893
there stood on the books of the department
charged to the treasurer balance of s738, 49,
555. adding to this the receipts on all accounts
gives 81 1852 474 003 total to be accounted for.
and deduc Ting the expenditures, leaves a
balance OF S763,565.54O on June 80, 1894
In addition to these balances however,
there were other liabilities, arising from the
postal revenues, from disbursing officers and
from other sources, which brought the total to
S776O41 8O8 at the former date, and to 1904 ST.
75S at the latter.After setting aside the amounts
treated as unavail BILE, the principal of which
dTc GAO OCpOSlGS udU0 WIN inc STATES under
the law OF. 1895 there remained the sum of
S746, 5S8, 655 in 1893 and the sum of SITS 3d.
500 in 1894 represented by live assets in the
several Offices ofs'the treasury and mint, to-
gether with deposits in national banks OF
these balances the sums of S584,5S3 92) and
t616155,S2O, respectively. were on deposit for
the redemption of outstanding certificates and
treasury notes, leaving $161 ,994735 and $159 1874
739 as the balances on account of the genera
fund.
He states that the lowest point touched by
the reserve was s521 89.500 on August z 1894
Prior to July. 1892 the gold reserve was but
little affected by Withdrawals OF coin, there
never having been any considerable de-
mand for the redemption of notes.
Even when gold exports were heavy the metal
was furnished by bankers from their vaults or
was obtained from the treasury for gold GER
tif1cates OF course without Impairment to the
reserve. During the last two years, however
the treasury has been called upon to furnish
ne rly the whole of the requirements for ex-
portation, and there have recently been con-
siderable Withdrawals for other uses.
The treasurer remarks that the impairment
OF the gold reserve rendering necessary the
issue OF bonds in February was caused chiefly
by the depletion of the treasury resulting
from insufficient revenues. Even when the
supply ofpaper had become so reduced that
the treasury was obliged to pay out large
sums OF gold In the ordinary disbursements
the coin was freely returned in the revenues.
The proceeds of this loan were $58 CSC, 900 in
gold coin and certificates, but during the
month of February there were redeemed S19,-
100000 Of notes in gold, presumably to meet
subscriptions to the loan so that the net gold
proceeds were about $395OO,O OO This. to-
gether with gain of 81 500 900 in gold from
ordinary sources, brought up the reserve
during the month from s65OOO,OO0 to
$l06, 800 900, while the net assets of the
treasury, with an excess of S7,OOO.00O
of expenditures over receipts for the
month, increased from $125 100000 to sf77,-
100000. During the succeeding months till
the end Of the first week in August the re-
serve was affected by deficient revenues and
Withdrawals Of gold for export. the move
ment abroad having been stimulated by the
necessity which the treasury was under of
furnishing ito exporters new full weight alter
the supply Of old pieces had become exhausted.
With reference to the retirement OF treasury
notes the treasurer says that prior to August.
1893 the treasury had been able to provide for
the redemption OF treasury notes In silver dol
lars out OF the holdings of free silver. so
that there had not been. up to that
time, any impairment of the total amount
the silver fund accumulated under the act On
the Sd Of that month, however. the silver dol
lars and bullion in the treasury had BECOME
reduced to the amount required by law to be
retained for the payment Of outstanding treas
ury notes and certificates, and the de-
mand for the redemption Of notes continuing
in consequence OF the scarcity of small
denominations of currency, it became neces-
Sary to draw upon the dollars coined especially
for that purpose. The silver fund being thus
impaired, the notes SO redeemed were cam
eelled, In order to preserve the required equal
ity between the silver in the treasury and the
90 tSfa ho oto NJ ,,f no
notes retained in this way, up to October 81,
was "a TO-. 4S4
To the end o; September last the total re-
demption Of United States notes in gold since
the resumption Of specie payments were $751;.
800 600. and the total redemptlons OF the treas
ury notes In gold from their first issue were
seS 100000. The two important events of the
year affecting the condition Of the public debt
were the issue OF $50 900 600 of per cent. bonds
to faplenish eho sold roeorvo and ta, stoppaea
OF the purchase OF SILVER bullion by the issue
of treasury notes.
The amount OF the new issues Of United
States paper currency put into circulation dur
ing the Year was $3.50 $50 $780, having been ex-
ceeded but oLne. III 1892 The amount OF worn
and mu.ilatei notes redeemed was 1919 0o2 300.
This a!so has been exceeded hut once. in
1893. The total paper circulation reached
its highest point in May last, when
it stood at sl.l75,OO0, 900 Since then
there has been slight contraction, caused
chiefly by the gradual redemption and retire.
ment OF gold certificates, the issue OF which
was suspended, as the law requires, when the
gold reserve OF the treasury fell below Sl00.-
OOO. 900.
Notwithstanding change in the-regulauons
whereby senders Of national bank notes for
redemption were required to bear the charges
OF transportation, the redemptions were the
heaviest since 1885, amounting to sos. O00 900,
or more than half Of the average circulation.
The management Of the Columbian EXPOSE
ton having finally declined to defray the ex-
penses of recoining the Columbian half-dol-
lars, which have found their way into the
treasury. they have been offered to the public
at par in exchange for gold or gold certificates,
and q considerable sum Of them has been dis
tributed in that manner. The Isabella quar-
tiers In the treasury are retained for the requi-
sitlon OF the board OF lady managers Of the ex-
position.
The amount Of counterfeit silver coin and
fractional currency detected at the Offices of
the treasury during the year was Sl0,500, an in
ere Be of $500 over the year before.
There was an increase during the year OF ST.
3D. ESQ in the face value OF the bonds held on
account OF the sinking funds OF the Pacific
railroads, which amounted, on June so, to Sls,-
100000 8
VENlSON IS PLENTY.
Thousands of Deer Driven from the Burnt
Forest Killed by Pot Hunters.