The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1894-11-29
PAPER CURRENCY In CIRCULATION.
Interesting Facts and Figures In Treasu-
rer Morgan's Annual Report.

NuFlopoLb VII JHo OpeIdIlOHS uuu
conditions of the treasury.
The net ordinary revenues for the
fiscal year ending June 30, cents
omitted, were 1907, 722,010, de-
crease of $SS,007, 500, as compared
with the year before. The net or
binary expenditures were 1867, $685.
279, a decrease of $15,952,674. In
Guiding the public debt tho total
receipts on all accounts were $724,-
006,580, and the expenditures were
$69S, GOSSIP. At the close of bust
ness June 30, 1893, there stood on
the books of the department
charged to the treasurer a balance
of $78S, 467, sos.
Adding to this the receipts on all
accounts gives 1,462, 274,093, as
the total to be accounted for, and
deducting the Expenditures leaves a
balance of $763,565, $40 June 30,
1894. In addition to these bal
ances, however, there were other
liabilities, arising from the postal
revenues, from disbursing officers
and from other sources, which
brought the total to $776,051, 1903
at the former date, and to $780,
854, 756 at the latter.
After setting aside the amounts
treated as unavailable, the princi-
pal of which are the deposits made
with the states under the law of
1886, there remained the sum of
$746,588,655 in 1898, and the sum
of $775,310,559 in 1896, represented
by live assets in the several offices
of the treasury and mint, together
with deposits in national banks.
Of these balances the sums of
1884, 93,92O and $616, 155, 800 res
pectively, were on deposit for the
redemption of outstanding certifi-
Gates and treasury notes, leaving
1851, 994,785 and $3.50, 154,739 as
the balances on account of the gen.
eral fund.
The treasurer remarks that the
impairment of the dead reserve,
rendering necessary the issuing 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 reduced
that the treasury was obliged to pay
out large sums of gold in the ordi-
nary disbursements the coin was
freely returned in the revenues.
The proceeds of this loan were
$5S, $3.50, 900 in gold coin and certif-
icates, but during the month of
February there were redeemed $19,-
100000 of notes in gold, presume
bly, to meet subscriptions to the
loan, so that the net gold proceeds
were about $39,50O,000. This, to-
gether with a gain of 81 100000 in
gold from ordinary sources, caused
the reserve to go up from $65,OO0,-
600 to $100,500,000, while the net
assets of the treasury, with an ex-
cess of 100000 of expenditures
over receipts for the month went
from $125,O0O,00O to $177,000,-
600. 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 lowest
point touched by the reserve was
$50, 1S9, 505, August Z, 1894.
Prior to July, 1892, the gold re-
serve 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 bank
ara from, THAR vanilla or was oh |