Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-11-29
ANNUAL REPORT.
Daniel Morgan Gives Out His Figures en-
the Condition of the Treasury-Manys
Millions Went Abroad.

49,
Washington, Nov. 28-The annual re-
port of Daniel Morgan, treasurer of the
United States, made public this after
noon, shows the total receipts from all
sources during the fiscal year ending
June 30, last, to have been 1926, 976, 200, as
against $313S90 055 for the fiscal year
1895, an increase of $13.5S6,125 The re-
ceipts from customs STAG, 762, S64, gain of
1854, 192; from sale of public lands ST.
o05,52S, loss of ss7,629, from miscellane-
Gus sources s19,1S6,06O a gain of S2,479,-
622.
The total expenditure for the year
was 1882 179. 446, as against $3.50 ,29S for
1896 a decrease of s4,015,S52. The de-
ficiency for the year is $25. 203, 245, or $17.-
6O1.97 less than for last year.
The net receipts from the $269, 315 400
of bonds sold in 1S94-95 and 1886, were
1924 164 295. Continuing the report says:
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 product of our
mines hndS its way to the minis. where
it is paid for by checks and these are
presented at the counters of the sub
treasures or through the clearance
house in New York as currency obliga-
ti0ns. The result is an increase of the
gold reserve and a dminution of the
available Of the balance of notes and
silver certificates, gold imported in the
form of bullion, or foreign coin, takes
usually the same course Besides these
two sources of ordinary gain to the gold
reserve, there is another in the direct
exchange of the paper currency for the
coin where the paper is preferred for
its greater convenience.
Fortunate indeed has it been for the
treasury, and more. even during the
most critical periods through which the
country principally passed. These cur
rents of inflow have not been altogether
checked, and more where the volume has
partially diminished the rest has been
partly made good by the assistance of
financial institutions. In the fifteen
months, ending with September last
Withdrawals of gold from the treasury
in redemption of United States notes and
treasury notes, amounted to the immense
sum of $192, 972,205, while the net gains of
gold from all sources attained a total
of sos, 1SS, 9O2.
The outstanding public debt June 80,
1896, aggregated 81, 769, $40. 1923. as com
pared with 81 ,676, 1209S3 on the same date
1895 According to advised state of the
debt the composing and distributing OF
the monetary stock for the fiscal year,
1896, is as follows:
0ield coin IN treasury and mints $112,-
579,974. -s
Gold coin in circulation. s454, 905 064
Gold bullion in treasury and mints S32,-
102, 926.
Gold bullion in circulation, none.
Silver dollars in treasury and mints,
$372. 673,137.
Silver dollars in circulation, $52 ZIG 9Oi
Fractional silver coin in treasury and
minis, $13, 75o,G65.
Fractional silver coin in circulation,
$50, 204, 451. /
Silver bullion in treasury and minis,
$500, 933, 95S
Silver bullion in circulation, ST, 3O2 565.
Total metallic in treasury and minis,
S66 067 051
Total metallic in circulation $56S, 25S, 9S4.
United States notes in treasury and
mints, $122. 4Si, HAS,
United State notes incirculation, 1921
249,s6s.
Treasury notes of 1880 in the treasury
and minis, 1874 63S, 033.
Treasury notes of 1890 in circulation,
$95,045, 247
National bank notes in treasury and
minis. $40, 1872, 1925.
National bank notes in circulation,
$215, 16S,122.
Gold certificates In treasury and mints,
$e20,070.
Gold certificates in circulation, $40, 1876
49,
$1i 969 3l3.
silver certificates in circulation, $780,
57.197 -
Currency certificat ties in treasury and
mints, 100000.
Currency certificates in circulation, $751;
10000
Total paper in treasury and minis $780,
S03, 9S9
Total paper in circulation. 1899, 20S,547.
Aggregate in treasury and minis, $780,
ST. .O40.
Aggregate in circulation. 81 500 ,467 ,531.
The grand aggregate Is $2,3fS, 1858, 81, az
compared with s., 500, 704 6s8 for the fiscal
year 1895 While these figures show
an apparent loss of more than 1000, 600 of
money the department officers say that as
a matter of fact that the loss does NOT
now exist.
Many millions of gold went abroad,
principally at the close Of the last fiscal
year thus showing an unfavorable bal
ance but Ii is claimed that since the in
flow of gold has REQUIRED and the import
ations here grow, this money with con-
siderable addition thereto has come back
to the United States. The net proceeds
of the national bank notes redeemed dur
ing the year were s107 ,s9l OPS, the largest
amount for any like period in ten years
and with the exception of three years,
the largest since 1879
The cost for the redemption of ma
tional bank notes had been assessed
against the banks at the rate of $l.l2R
per 81 900 The appendix contains q
large amount of new matters Of inter-
est to bankers and students of fnance-in
the tabular form. rt
C,uRISTMASs GIFTS FOR MEN. Z