Omaha daily bee., 1896-11-29
TREASURER MORCAN'SREPORT
Revenue Deficit Considerably Smaller Than
the Previous Year.
FIGURES ON THE CoUNTRYS CURRENCY
Falling on In Circulating Medium
Previous to June 30 Has Been
Fully Nude Ip since
The Cold Reserve.

WASHINGTON Nov 2S.-Thc annual re-
port Of Daniel y. Morgan. treasurer OF the
United States. shows the net ordinary rev
onues OF the government during the fiscal
year ended June 30, lS96. to have been $780,
$40 200 and the expenditures 1852 179 $40,
leaving a deficiency for the year OF $2j,-
2O3 2I6, or Sl7. .GOl ,977 less than during the
preceding fiscal year.
The report shows that during the last
fiscal year there was an increase of S7,S63,-
13i in the receipts from customs, and an
increase Of $3.34l.l92 from internal reve-
nue. sources. an increase Of S2479,62 from
miscellaneous sources, and a loss of $97S23
from the sale Of public lands, making the
net increase in the receipts Sl3.5S6 1913.
The decrease in the expenditures amounted
to S4.Ol5Ol2 The report shows that the
total receipts from the four bond sales
since 1894 were 1924, ,l6i.29j.
Referring to the condition Of the treas
ury during the last year, the treasurer says;
while the cash balance in the treasury
has afforded a comfortable working fund
and would have done so without aug
menlaton from loans, the gold reserve has
been the cause of much concern and has
bCon maintained only at the cost OF fresh
issue of bonds and by the voluntary con-
trbutions of banks and financial institu-
riod in the autumn OF 1895, and another
in the spring of 1896, the ruling rates of
foreign exchange were such throughout the
year as to permit, if not require, the ex-
port of gold.i
The report then follows with a detailed
review OF the fluctuations of the gold re-
serve during the year as caused by the de
mands of business. Brief reference is made
to the action of the bankers OF the principal
cities in joining together in the movement
of relief at a time when the outflow Of
gold was steadily depicting the reserve.
Then. after referring to the more recent turn
of the tide when favorable turn in foreign
exchange first checked the outflow OF gold,
and later set In motion rapid current In
the oppcSTte direction. the report continues
In ordinary times and under ordinary
circumstances there is a natural flow Of
gold toward the treasury, which often Is
limited only by the capacity Of the treasury
to carry the specie. Fortunate. indeed, has
1t been for the treasury that even during
the most critical periods through which
the country has recently passed, these cur
rents OF flow have not been altogether
checked and that where their volume has
been materially diminished the loss has been
partly made good by the assistance of finan-
cial institutions. In the fifteen months
ending with September last, the Withdrawals
Of gold from the treasury amounted to the
immense sum of Si92 700 705, while the net
gains ofgold from all sources attained a total
of S9S l3S, ,9O2.
The public debt outstanding June 80. 1895.
is shown to have been Sl76g $40 1928. and on
June 30. 1895. $l.676, ,120,9S3.
According to the revised estimates OF the
department. the composition and distribu
tion of the monetary stock on June 30, 1896,
is as follows