The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-07-04
TREASURY DEFICIT is FORTY
THREE MILLION DOLLARS
Expenditures for July Will be Exception
ally Heavy-Forty- National
Banks Organized Work
of Secret Service Officers.

the excess of expenditures over receipts
since June 80, 1898, about $113, 100000.
The total receipts of the government
for the fiscal year, exclusive of postal
revenues, amount to nearly S3l3,OOO,OOO
and the expenditures $3.50, 100000, of
which pensions took SAL ,391 1923. Last
year the aggregate receipts, exclusive of
Dostal revenues were $297, 100, 019, and
the expenditures $267, 525,279. The re-
ceipts this year, therefore, were SIS, 1885,
900 greater than last, and the eXpendi-
lures about S11,275,000 less The pos
tai service deficit is about $11 100000,
which is considerably in excess of that
of any recent year. The internal revenue
department of the government has con-
tributed this year to the receipts nearly
S143, 100000, as against a little more
than $147, 100000 last year. The Gus
toms this year makes a better showing
than last by about sci 100000. Last
year the receipts from this source
amounted to nearly $132,000,000, and
this year they Appropriated $153,0OO,-
600. OF this amount sugar contributed
about 1850, 900.
Tomorrow's debt statement will show
an available cash balance of about $780,
100000, of which about SlO7 100000 is
| gold reserve This reserve will include
payment in full for the last bond issue,
but the statement will show a counter
delivery charge of only $31 ,157, 700 il
bonds, or one-half of the whole amount
issued.
In explanation of this seeming error it
is said formal transfer of the London
half of the bonds has not yet been made.
The expenditures for July will be excep-
tonally heavy; pensions and interest
alone are expected to amount to S20,Ooo,-
900.
During the fiscal year the number of
national banks in existence has decreased
from 3775 to 1922. Forty-one national
banks have been organized during the
year; sixty national banks have gone
into voluntary liquidation and thirty-siX
have been placed in the hands of receiv-
ers. The national bank circulation has
increased $4,337, 791, from $2O7 ,353, 244
on July 1, 1894, to $211. sol .035 on July
| 1, 1895. From July IS, 1894, to May Z,
1898, the nearest date to the year OBJ
tainable, the loans and discounts of ma
|
5S9,352 to $1,976,604, 445, or about $43,-
100000.
During the same time individual de-
posts have increased from 81 ,577 sol 200
to $3.50, 961 200, or about $13,OOOOOO.
The lawful money reserve held by banks
shows a heavy increase from $364, 1Oo,-
7j7 to $43S, $40, or nearly S75,OOO,-
600.
The operations of some of the more inn
portant bureaus of the treasury depart
ment during the last fiscal year are briefly
outlined as follows:
There are employed under the light
house board in the construction and main
tenance of aids to navigation 81 steam
tenders, six steam launches and six sail
ing tenders. In supplying light houses
and vessels and caring for buOys these
tenders steamed 2055S0 miles. There
are 3422 persons employed in the light,
house service as keepers, etc. The total
value of the lighthouse establishment is
about 100000. Ten new fog signal sta.
tons and Al new lights were established
during the year. The lower Cedar Point
light station was destroyed by fire, and
the Smiths Point light was carried away
by ice.
During the year perfect telephone
connection between Scotland lightship
and the shore has been established. This
Is one of the greatest experiments in cleo
trical research, and seems to demonstrate
that telephone communication with sim
pie appliances can be had with the shore
by a vessel many miles at sea without
any direct connection nearer than several
hundred feet from the vessel.
The year has been of unusual interest
and importance to the United States reve-
nue. cutter service. 1T has performed
special services of a conspicuous nature.
Among these are noted the search for
the Ivanhoe, supposed to have foundered
on September % last, off Cape Flattery,
in the Pacific, in which three of the YES
sells, "Grant," crush" and "COrwin"
ljoined.
The "DaIlas" alone assisted during the
month of February 20 vessels imperilled
by ice, and during the month of March %,
while the Crawford" rendered like
service to Il during the former month.
The "MOrrill' and "McLane" have been
vigilant along the coast of Florida in
suppressing smuggling and preventing
violation of our neutrality obligations by
lsympathizcrS of the Cuban revolt.
Six vessels have been manned and fully
equipped and dispatched to the Behring
sea to protect the seal herds and the gov
eminent interests in Alaska and the
Seal Islands.
| L ne new steamer NlnuOm, uHueI
Icourse of construction at the beginning
of the year, has been so far advanced as
to practically be completed.
Two steam launches are being built
for duty on Puget sound and one for
the lower Savannah river.
Contracts have been awarded for the
construction of two new steamers of
upwards of 900 tons each, which, when
completed, will be the finest vessels in
the service. New legislation has been Sc
cured for the betterment of the service.
One new vessel of the first class, to
cost 100000, and one harbor boat for
$4,000 have been authorized for duty on
the Pacific coast. A law has been Sc
cured placing on permanent waiting or
ders' all officers of the service who are
permanently inCapacitated to perform
efficiently the duties of their Offices"
In carrying into effect the provisions
of this law, it is claimed rhat the service
will have been greatly benefited by the
removal from the active list of large
number of officers who, through no fault
of theirs, are no longer capable of per-
forming duty. and promoting younger men
to the vacancies thus created. Measures
have been instituted. and are in course of
execution. looking TO appointments to
again fill the complement of officers on the
active list.
The reports of the officers of the life