The Coconino weekly sun., 1894-11-29
NATIONAL FINANCES.

Treasury.
 WASHINGTON, Nov. 23.-The treasurer of the United States, Fl. D. Morgan, has submitted to Secretary Carlisle the annual report on the operations and condition of the treasury. The net ordinary revenues for the fiscal year ended June 30, cents omitted, were S297, 722, ,0l9, decrease of $SS, S,O97, ,609 as compared with the year before. The net ordinary expenditures were $S67,- 525,279, a decrease of $15, ,952,6 674. h. cluding the public debt, the total re- ceipts on all accounts were SPA, ,0O6, ,53s and the expenditures $69s, ,90s, 552.
 At the close of business on June 30, 1893, there stood on the books of the department charged to the treasurer a balance of S73s, ,467, ,555. Adding to this the receipts on all accounts gives S1,- 462, ,093 as a total to be accounted for, and deducting the expenditures leaves 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 S776,04l ,S0S at the former date and to Ss04, ,s54, 753 at the latter. After setting aside the amounts treated as unavailable, the principal of which are the deposits made with the states un- der the law of 1886, there remained the sum of STAG, 53s, ,655 in 1893 and the sum of $775, ,31O, 559 in 1894, represented by live assets in the several offices of the treasury and mint, together with de- posits in national banks. Of these bal i ances, the sums of $5s4, ,593, ,920 and S616, 1858 respectively, were on de- posit for the redemption of outstand- ing certificates and treasury notes. leaving Sl6l, ,994, ,735 and S159, 154, ,739 as the balance on account of the general fund.
 | The treasurer remarks the impair ment of the gold reserve, rendering necessary the issue of bonds in Febru- ary, was caused chiefly by the deple- tion 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 ordinary disbursements, the coin was freely re- turned in the revenues. The proceeds of this loan were S5s, ,660, ,OO0 in gold coin and certificates, but during the month of February there were re- deemed S19, 200, 900 of notes in gold. pre- sumably to meet subscriptions to the loan, so the net gold proceeds were SS9, 100000. This, together with gain of S1,500,0O0 in gold, from ordinary sources, brought up the reserve during the month from S65, 900, 900 to SlO0, ,50O,- 900, while the net assets of the treas ury, with an excess of $7,O00,000 of ex- penditures over receipts for the month, increased from S125, 900, 900 to S177, ,00O, . 900. The lowest point touched by the reserve was S52, 1s9, 800 on August 7, 1894. To the end of September the to- tai redemptions of United States notes in gold since the resumption of specie payments were Sls1, 300, 900 and the to- tai redemption of the treasury notes in gold from their first issue were S6s,- 500, ,000
 The two important events of the year affecting the condition of the public debt were the issue of S50,OO0, 900 of 5 per cent. bonds to replenish the gold reserve and the stoppage of the pur- chase of silver bullion by the issue of treasury notes.
 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 dollars out of the holdings of free silver, so that there had not been, up to that time, any | impairment of the total amount of the silver fund accumulated under the act. On August 3, however, the silver dollars and bullion inthe treasury had become reduced to the amount required by law to be retained for the payment of outstanding treasury notes and certifi- cates, and the demand for the redemp- tion of notes continuing in conse- quence of the scarcity of the small denominations of currency, it became necessary to draw upon the dollars coined, especially for that purpose The silver fund being thus impaired, the notes so redeemed were cancelled in order to preserve the required equal l ity between the silver in the treasury and the notes outstanding. The total amount of the notes retired in this way up to October 31 was S4,700, 434
 The amount of the new issues of United States paper currency put into circulation during the year was SS5O,- 959, 19O having been exceeded but once, in 1892 The amount of worn and mu- tilated notes redeemed was $319, 9,002,- 29O This also has been exceeded but once, in 1893. The total paper circula- tion reached it's highest point in May last, when it stood at S1,175, 900. Since then there has been a slight con. traction, caused chiefly by the gradual redemption and retirement of gold cer- tificates, the issue of which was sus- pended, as the law requires, when the gold reserve of the treasury fell below S1OO, 900.
 Mgr. Satollrs Red Hat.
 | NEW YORK, Nov. 23.-All doubt as to Mgr. Satolli's coming elevation to the cardinalate is now set at rest by intel.