The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-12-01
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.

q VhbhtNGlONs ANoS. -. ~ 1CooufCi
of the United States, H. 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 ending June so, cents omit
ted. were S297, rs ,019, a decrease of
SIS. 097, 600, as compared with the year
before. The net ordinary expendi-
lures were 1897, 525, 279, a decrease of
Sl5,952, GA. Including the public debt
the total receipts on all accounts were
1924, COG, 53s, and the expenditures $685.
9OS, 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, ACT, 555. Adding to
this the receipts on all accounts gives
81, 462, 470, 093. as total to be accounted
for, and deducting the expenditures
leaves a balance of S763, 565, $40 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
ST76, 04l, sos at the former date
and to 1904, s54, 753 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 1896, there re-
manned the sum of 46,53S,65 in 1893,
and the sum of S775,3l0,5 $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 S5S+,-
sos, 800 and S616,155,S2 $50 respectively,
were on deposit for the redemption of
outstanding certificates and treasury
notes, leaving S161, 594, 735 and S159, 1884,
739 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 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
ly returned in the n The pro-
ceeds of this loan were SIS, 660, 900 in
gold coin and certificates, and during
the month of February there were re-
deemed $40, 200, 900 of notes in gold, pre-
sumably to meet subscriptions to the
loan, SO that the net gold proceeds
were about $50, SOC, 600. This. together
...tl -,,. 80 G. enn mn - -11l f-1r.
ordinary sources, brought up the re-
serve, during the month, from sos, OOO,-
900 to S1O0, SOC, 900, while the net assets
of the treasury, with an excess of ST.
OO0,O 900 of expenditures over receipts for
the month, increased from SIPS, 600, 600
to SIT, DOC, OO0. 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 weigh.
after the supply of old pieces had been
exhausted. The lowest point touched
by the reserve was So. lS9, 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
tanned from the treasury for gold GER
t~iicates, 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 $751;, 300, 900, and the
total redemption of the treasury notes
in gold from their first issue were $685.
500, 600.
The two important events of the
year affecting the condition of the
public debt were the issue of $50, OOO,-
900 5 per cent bonds to replenish the
gold reserve and the stoppage of the
puTCidoc VI oiINCT oullloh W Vic iSSuc
treasury notes.
With reference to the retirement of
treasury notes, the treasurer says that
prior to August 1, 1893, 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 i'm
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