Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-11-29
UNCLE SANS CASH BOX.
Annual Report Of United States
Treasurer Morgan.
A Detailed Statement of the Receipts and
Expenditures For the Fiscal Year
Ended June 3O-A Decrease
In the Net Revenue.

has submitted to Secretary Carlisle the
annual report on the operations and
condition of the treasury:
The net ordinary revenues for the
fiscal year ending June 80, cents omit
ted, were 1927, 722, O19, a decrease of
6ss, 900. as compared with the year
before. The net ordinary expendi-
lures were 1857, ,279, a decrease of
e15,952,67 Including the public debt
the total receipts on all accounts were
1874, COG, 53S, and the expenditures $685.
Dos, $50.
AT the close of business on June 80,
1898, there stood on the books of the
department., charged to the treasurer,
a balance of S73S, 467, $50. Adding to
this the receipts on all accounts gives
81, 462, 40, 093. as total to be accounted
for, and deducting the expenditures
leaves a balance of S763, 565, $40 on June
30, 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
S776, 041, sos at the former date
and to 1904, s54,75 at the latter.
After setting aside the amounts
treated as unavailable. the principal
of which are the deposits made at the
states under the law of 1886, there re-
manned the sum of STAG, 53s, 655 in 1893,
and the sum of SITS, $40, $50 in 1894, rep
resented by live assets in the several
Offices of the treasury and mint, to-
gether with deposits in national banks.
OF these balances the sums are 1884,
593,920 and S616, f55, $50 respectively,
were on deposit for the redemption of
outstanding certificates and treasury
notes, leaving S161, 594, 735 and $3.50, 1874
T39 as the balance on account of the
general fund.
The treasurer remarks that the i'm
pairment of the gold reserve, render
ing necessary the issue of bonds in
February, was caused chiefly by the
depletion of the treasury resulting
from insufficient revenues. Even when
the supply of paper had become so re-
duced that the treasury was obliged to
pay out large sums of gold in the ordi-
nary disbursements, the coin was free
1y returned in the revenues. The pro-
ceeds of this loan were SIS, $50, 900 in
gold coin and certificates, and during
the month of February there were re-
deemed SIS, zoo, 900 of notes in gold. pre-
sumably to meet subscriptions to the
loan, SO that the net gold proceeds
were about $50, 800, 900. This, together
with gain of $1,000, OOO-in gold from
ordinary sources, brought up the re-
serve, during the month, from S65, OOO,-
600 to 500, 500, 900, while the net assets
of the treasury, with an excess of ST.
OOO,O of expenditures over receipts for
the month, increased from S125, OOO, 900
to SIT, 100000. During the succeeding
months, until the end of the first week
in August. the reserve was affected by
deficient revenues and Withdrawals of
gold for export, the movement abroad
having been stimulated by the necessi-
ty which the treasury was under of
furnishing to exporters new full weight
after the supply of old pieces had been
exhausted. The lowest point touched
by the reserve was $50, 1S9, 500, ON Au-
gust7, 1894.
Prior to July, 1892. the gold reserve
was but little affected by Withdrawals
of coin, there never having been any
considerable demand for the redemp-
ton of notes. Even when gold exports
were heavy the metal was furnished by
bankers from their vaults or was OBJ
tificates, of course without impairment
to the reserve. During the last two
years, however, the treasury has been
called upon to furnish nearly the whole
of the requirements for expectation,
and there have recently been consider
able Withdrawals for other uses.
To the end of September the total
redemptions of United States notes in
gold since the resumption of specie
payments were Sls1, 300, 900, and the
total redemption of the treasury notes
in gold from their first issue were $685.
5OO,0 900.
The two important events of the
year affecting the condition of the
public debt were the issue of $50, OOO,-
OC0 per cent bonds to replenish the
gold reserve and the .stoppage of the
purchase of silver bullion by the issue
treasury notes.
With reference to the retirement of
treasury notes, the treasurer says that
prior to August L. 1898, the treasury
had been able to provide for the re-
demption of treasury notes in silver
dollars out of the holdings of
silver, so that there had not been
up to that time, any impairment of
the total amout of the silver funds &C
cumulated under the act. On the third
of that manth, however, the silver
dollars and bullion in the treasury
had become reduced to the amount re-
quired by law to be retained for the
payment of outstanding treasury notes
and certificates and the demand for
the redemption of notes continuing in
consequence of the scarcity of the
small denominations of currency, it
became necessary to draw upon the
dollars coined especially for that pur-
pose. The silver fund being thus inn
paired the notes so redeemed were can
celed in order to preserve the required
equality between the silver in the
treasury 'and the notes outstanding.
The total amount of the notes retired
in this way, up to October 81, was 81
$50, 434.
The amount of new issues of United
States paper currency put into circula-
ton during the year was $3.50, $50, 100
having been exceeded but once, in 1892
The amount of worn and mutulated
notes redeemed was 1919, O02, 300. This
has also been exceeded but once, in
1898. The total paper circulation
reached it's highest point in May last,
when it stood at 81, 175, 200, 900.
Since then there has been a slight
contraction, caused chiefly by the grad-
nal redemption and retirement of gold
certificates. the issue of which was
sasrcnded. as the law requires. when
A. aol5 reSarye Of the treasury fell