Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1895-11-28
MORGAN'S REPORT.
UAited States Treasurer Tells Of the Na-
r. #5 tons Finances, &

SA~ASS" So0tCo AAodHuFCT 1CA3 UI LU0 N -
r 9 4, tiOn's Finances. &
Washington, Nov. ED N. MORGAN. the
/ treasurer. or the United States, IN 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 30, 1885, were $313, 800 O75 an
Increase Of SIS, 66S, 055 as compared with ths
year before; net ordinary expenditures
$685. 1885, $685. decrease Of $ll. S2S. s81 Includ-
/ Ing the public debt, the total receipts on all
accounts were s720, 5l6625, and the expendi-
f. lures S7l0.471,157. A further sum of s31, l57, >
70O was deposited in the treasury prior to
the end of June on account of purchase Of
gold coin to maintain the reserve, but W 80
not formally covered in, and therefore does
not appear In the accounts for the current
fiscalsyear. :. ~
Atthe close of business June 80, 1894, 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 $l,4S4 .0s2, lG5 as -hs
total to be accounted for. and ueductillg the
expenditures leaves balance OF $773 blu, olS
June 80. 1885. In addition to this accounta-
sbll1ty to the department the treasurer had
liabilities on other accounts which brought
the totals to $S04 1854, 53 and $S42 1S9 on he
two dates. respectively. After setting aside
the amounts treated as unaVaila BILE. the
principal of which, S2S, l.644, deposited
WIFI the states under the law of 1886, there
remained the sum OF SIZE, $40, 55y in 1894 AMI
the sum OF SSl2 G21, 722 in 1850, for which there
were live assets in the several offices of the
treasury and mint and i'll The depository
banks. or these balances the sums of $780,
b5,o2O and $579, z41 ,o65, respectively, We're on
deposit for the redemption OF outstanding
certlllcaleS and treasury notes, leaving
Plo9, l54, 755 anu $25S. 375. So9 respectively. as
the balances on account OF the general
| fund.
Aside from the variations in the total
I stock OF gold in the country, which are de-
pendent upon the domestic production ard
consumption as We'll as the import and ex-
lspOrts OF the metal. the most important
tschange now going on III the composition OF
the money supply arises, the report says
| from the gradual retirement OF the treus-
ury notes OF lS9O, through their redemption
In silver dollars. BY this process. which be-
| gan in August, 1893, and has continued
since, the total issue OF $l5o, ISL ,O02 OF these
! notes Was reduced by September 81, 1885, to
| Sl43 6,2eO 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
ever reached being $l53. $50. $780, OH November
| Il, 1893.
| Under the provisions of an act of con-
| gress the face value of the state bonds and
| stocks formerly held in trust for the va
| 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 .he
| United States.
Uncurrent gold and silver coins of the
| face value OF $4,57S,647 were transferred,
during the year, from the treasury to .hc
| mint for recOinage The loss thereon
arising from diminution of weight was
| SPOIL Up to the end Of September last the
| sum Of ,7SO in Columbian half dollars
| had been exchanged for gold coin.
| The amount OF national bank notes e.
| ce1Ved for redemption was nearly sS7, 900,
| 900, Of which Sa5, 100 900 for circulation were
returned to the banks Of issue. Inclusive
| Of charges for transportation, salaries, sta
tionery and contingent expenses. the total
costs of the redemptions for the year were
| Sluo,S52, which have been assessed upon tho
| banks at the rate of ST. Is per s., 600 Of notes
redeemed. The deposits on account Of the
| reduction or retirement of national bank
/ circulation amounted during the year to
| s12,O56. l72, and the redemptions on the same
! ar II MS