The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-11-28


Sl9,20O,000 of notes in gold. presumably TO
meet subscriptions TO the loan. 50 that the
net gold proceeds were about S39.5O0,O00.
This. together with a gain of S1.500000 in
gold from ordinary sources, brought up
the reserve. during the month. from 500
100000 to sI06. 500 OOO while the net assets
/ of the treasury. with an excess Of $1,000
600 or expenditures over receipts for the
! month, increased from Sl25, 600 TO $l77,-
! 100000. During the succeeding months.
/ till the end Of the first week in August.
! the reserve was affected by deficient
! revenues and Withdrawals Of gold for eN-
/ port, the movement abroad having been
/ stimulated by the necessity which the
! treasury was under Of furnishing 10 eX-
/ pOrterS new full weight after the supply
/ of old pieces had become exhausted. The
! lowest point touched by the reserve was
! $52,lS9,500, on Aug. Z. 1894
! Prior to July. 1892. the gold reserve was
! but little affected by Withdrawals Of
coin. there never having been any con-
| siderable demand for the redemption Of
! notes. Even when god exports were
/ heavy the metal was furnished by bankers
| from their vaults or was obtained from
/ the treasury for gold certificates. Of
| course without impairment 70 the reserve.
! During the last two years. however. the
| treasury has been called upon % furnish
! nearly the whole Of the requirements for
| expectation and there have recently been
! considerable Withdrawals for other uses.
/ To the end Of September last the total
| redemptions Of United States notes in gold
! since the resumption Of specie payments
We're $lSl,S00000 and the total redemption
| Of treasury notes in gold from their first
| issue were Sos, 500 000
Two Important Events.
The two important events of the year
| affecting the condition Of the public debt
were the issue os $50 100000 Of . per cent.
! bonds to rep,enish the gold reserve and
Of % Ill
| button by the issue Of treasury notes.
! With reference TO the retirement q
l treasury notes the treasurer says that
/ prior to August. 1898, the treasury has
! been able u provide fO~ the redemption
| of treasury notes in silver dollars ont OF
! the holdings Of free silver, so that there
! had not been, up 10 that time any impair
mert Of the total amount Of the silver
| fund accumulated under the act on the
third of that month. however. the silver
| dollars and bullion in the treasury had
/ become reduced 10 the amount required 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 small denominations Of cur
| rency it became necessary tc drawn upon
| The dollars coined especially for that pur-
! pose The silver fund being thus i'm
| paired, the notes SO redeemed were can
| ce,led in order to preserve the required
| equality between the silver in the treas
/ ury and the notes outstanding. The total
| amount Of the notes retired in this way.
/ up 10 Oct. 81, $3.50 434.
| The amount of new issues or United
! States paper currency put into circuia-
J ton during the year was S35O.9J9.190, h3V-
| ing been exceeded but once IN 1892. The
| amount of worn and mutilated notes re-
! deemed was 10000. 290. This also has
| been exceeded -..- once in 1898.
| The total paper circulation reached lis
| highest point i'm May -aSt, when il stood
! at $1175 600 000 Since then there has
! been a slight contraction, caused chiefly
| by the grldua, redemption and retire
msnt Of gold certificates. the issue of
| which was suspended as the Jaw requires,
! when the gold reserve Of the treasury fell
J below 500 O0O 600.
| The management Of the Columbian eX-
I position having finally declined TO defray
| the EXPENSE II reCuiTiug the Columbian
! half dollars which have found their way
! into the treasury, they nave been offered
! To the public at par in exchange for gold
4 or gold certificates, and considerable
! sum Of them has been distributed in that
| manner The Isabella quarters in the
! treasury are retained for the requisiuon of
| the board Of lady managers of the eNposi-
! ton.
The amount of counterfeit silver coins
and fractional currency detected at the
| offices Of the treasury during the year was
| slO.5OO. an increase Of $500 over the year
| before.
! Under the provisions Of the last Indian
| appropriation act the face value of certain
| defaulted state bonds and stocks formerly
| belonging 20 the Indian trust fund has
/ been placed upon the books Of the treas
| ury to the credit of the several tribes. to
| draw interest at the rate Of per cent.
| per annum and the bonds and stocks
| have become the property of the United
! States There was an Increase during the
| wear Of 81 .552. $50 in the face value of the
| bonds held on account Of the sinking
! funds of the Pacific railroad, which
| amounted on June 80 TO S1S.960.00o.
| Notwithstanding a change in the regula-
] tons whereby senders Of national bank
! notes for redemption were required 10
! bear the charges for transportation, the re-
| demptions were the heaviest since 1856.
! amounting to S1C5,000,000. or more than
! half of the average circulation.
! Citizens who apply to the fish commits
! sion for gold fish will be doomed to dis
| appointment in the future. The commits
sion has found it necessary to curtail the
| generous and gratuitOus distribution OF
! these fish. In the future fish viii be FUR
! nshed only 10 state commissions, 10 parks
| and for public uses generally, and viii
| not be given to private applicants This
/ step has been forced upon the commission
| by the steady increase of the demand.
| Chief Hazen's Report.
William = Hazen. the chief of the
| secret service Of the treasury department.
year the total number Of arrests made was
| go. nearly all of which were for violations
| Of the statutes relating To counterfeiting
| United States money. of those arrested
| about 800 were either convicted or pleaded
| guilty: 129 are now awaiting the action OF
| grand juries. The fines collected amounted
| to S3967 The amount Of altered or coun-
| terfeit notes captured during the year was
| S21 800; coins $10,756. Their were also cap
| tured 134 plates from which counterfeit
notes had been printed: thirty-three dies,
| 156 molds and a large quantity Of miscel-
| laneous matter, consisting Of tools, melt
| ing pots, etc.
Chief Hazen states that the events OF
! the last year furnished evidence Of great
activity among counterfeiters the number
| Of arrests reported for counterfeiting. both
| notes and coins. largely exceeding that Of
| any previous year in the history Of the
| service.
MONETARY COMMISSION.