Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1895-11-28
MORGAN's REPORT.


4 =
UAtted States Treasurer Tells Of the Ne.
n sa tons Finances.
Washington. Nov 22-D IN. Morgan, the
treasurersor the United States, ia his an
nual report on the operations and condition
OF the treasury. says that the net ordinary
revenues Of the government for the fiscal
year ended June 80. 1896, were 1913 800 O75 an
increase Of ~. 66S O55 as compared with thu
year before; net ordinary expenditures,
$556, 29S. decrease OF $1l. 1875. 9Sl Includ-
Ing the public debt. the total receipts on all
accounts were $720. .625, and the expenJi-
! lures $7l0.472.l57. A further sum Of $31. l57. =
70O was deposited In the treasury prior to
the end of June on account of a purchase of
gold coin to maintain the reserve, but WIS
npt formally covered in, and therefore does
not appearsin the accounts for the current
I fiscaEyear.
Atsthe close of business June 80, 1897. there
stood charged to the treasurer on the books
Of the department a balance Of $763, $50. $40
Adding to this the receipts for the year
from all sources gives 81, 4S4. 0s2, 165 as .fls
total to be accounted for, and sdeductiIg the
expanditurea leaves q balance OF y773;blO, Gus
agune 90 lSSh IN addition to this accounta-
sDlllty 10 the department the treasurer had
Liabilities on other accounts which brought
the totals to $500. 1854 753 and $S42 1S9 on the
two dates. respectively. After setting aside
the amounts treated as unavailable. the
principal of which, SIS, ga, deposited
Vita the states under the law Of 1886, there
remained the sum OF sits. .65y in 1894 AMI
the sum OF SSl2, 627, 722 in 1885, for which there
were live assets in the several offices Of the
treasury and mint and in the depository
banks. or these balances the sums Of $6lG.-
$40 and $579, z47 1868, respectively, were on
deposit for the redemption OF outstanding
certificates and treasury notes. leaving
tl59. l54. 73y anu 1888. say. respectively as
the balances on account Of the general
fund.
Aside from the variations In the total
stock of gold In the country, which are de-
spendent: upon the domestic production ard
CONSUMPTION as Well as the import and ex-
ports OF the metal the most important
schange now goington in the composition OF.
the money supply arises. the report says
from the gradual retirement OF the treas-
ury notes of 1890. through their redemption
In silver dollars BY this process, which be-
gan In August, 1888, and has continued
since. the total issue OF S155, S5l ,O0z OF these
notes was reduced by September 3d. 1895. to
Sl4S. 666, 2eO. AS the reduction began before
the original issues In the purchase Of silver
bullion were discontinued, the amount Of
the total cost Of the purchases was never
outstanding at any time, the highest point
sever reached being $l53, 550, $50. on November
n. 1893.
Under the provisions of an act of con-
Eress the face value of the state bonds and
rious Indian tribes had been placed upon
the books Of the treasury to the credit of
the several tribes, to draw interest at the
rate OF five per cent. per annum, and the
securities have become the property OF The
United States.
Uncurrent gold and silver coins of the
face value OF $4,57S,647 were transferred
during the year, from the treasury to tho
mint IOr rec0lnaEe. The loss thereon
arising from diminution of weight was
$50. lo7. Up to the end Of September last the
sum Of $826, 100 in Columbian half dollars
had been exchanged for gold coin. II
The amount of national bank notes 10
ceiyed for redemption was nearly SS7, OO0.-
600. Of which $50. OOO. 600 for circulation were
returned to the banks of ISSUE Inclusive
of charges for transportation. salaries. sta
tionery ana contingent expenses the total
costs of the redemptions for the year were
800, 1859, which have been assessed upon the
banks at the rate of 81 Is per 81 900 of notes
redeemed. The deposits on account of the
reduction or retirement of national bank
circulation amounted during the year 10
$12.056. l72, and the redemptions on the same
account to $l3O6S. 639 IS -