The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1894-06-20
THE NATIONAL FINANCES
THEtURRENT MONTHLY PUB
LIC DEBT STATEMENT.

A Net Increase in the Public Debt
Less Cash on Hand, Of 6,603,
O3O.5S-A Net Loss of $22, ,0oo,-
600 In GoId-Great Falling OF In
the Revenue.
The debt statement shows net increase
OF the public debt, less cash In the Unite
States Treasury, during May, Of $685.
0s0.5S. The interest-bearing debt increased
s4so, the Notwithstanding debt de,
creased s64O, ,s7s.5o, and the cash in
the Treasury decreased S7.243, 45o.0S.
The balance OF the several classes OF debt
at the close of business. May 81, ware
Interest-bearlng debt, 1856, ,041, $40 debt on
which interest has ceased since maturity,
S1,S53, 800; debt bearing no interest, $780,
016.s30; total, 81, ,016. 9l6. $50.
The certificates and Treasury notes Offset
by an equal amount of cash In the Treasury
outstanding at the end OF the mouth were
s621, 1923, AS, an Increase OF st.1SS.650. To-
tai cash in the Treasury, S7SS, ,2SS, ,264.T
gold reserve. S78.699. .267 ; net cash balance,
PSYCHOLOGISTS. During the month there was
a decrease IN gold coin and bars OF S22 l2+,'
641, the total at the close being s14S, ,067.-
S16. OF silver there was an increase OF
e7s6, 6,49O. OF the surplus there was IN the
national bank repositories SIC, ,9S9. AL,
against s16, $40, 71s at the end ofthe previous
month.
During the month OF May the Treasury
sustained net loss In gold for export pur-
poses OF $4,000, 900. The movement still
continues, nearly wlping out all OF the gold
received by the bond Issue OF last January.
While the Treasury is losing gold bv export.
It is also losing 1t in Boston, Philadelphia and
New York by Withdrawals In ordinary busi-
ness transactions. The gold is finding its
way into the banks. In most OF the
cities of the West the Treasury Is daily gain
ing gold In exchange for legal tenders, ons
day receiving 100000 In st. Louis for
Unite States notes delivered In New YORK
tothe banks credit. Gold received for Gus.
toms dues Mt New York during May amounted
to only 23 per cent, against tWenty-elSnt
per cent. six months ago.
The falling off Of ordinary revenues is
causing more uneasiness In Treasury circles
than the decline Of the gold reserve. The re-
ceipts for the eleven months OF the current
fiscal year are $4,000, 900 less than fol
the eleven monGhs of the previous fiscal
year. A saving Of s13,000.0OO in ex.
pendltures over the corresponding period
of 1928 brings down the differ
ence In round figures to S72.000,000, be-
ing the excess OF expenditures over receipts
1Or tne eleVen months VI tui> NSof ihe
greatest falling of Is shown IN customs.
which have declined S66.000.OJa. Internal
revenue also fell of S14, 900, 900. The great
est retrenchment Of expenditures is shown
In pensions, saving OF Sl7,O9O.0O0 having
been effected In this item. Civil and mis-.
cellaneous expenditures show decrease Of
100000
The sisted Treasury balance Is $117, ,0o0,-
600 on January 1t was S90,0o0,0Oo. On
!. January l, however, the Treasury was le-
duced to working currency balance OF only
$4,000 600, the rest being sold and now the
Treasury has a working currency balance OF
S42,0O0,0 900. The Treasury situation, there
fore, is considered more favorable now, even
with less gold than 1t held In January, than
ut the begins ing of the calendar year, az its
currency bslanceis four times greater than
II was then.