The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-11-29
THE e. S. TREASURY.
Mr.. MORGAN FILES HIS REPORT
FOR THE FISCAL YEAR.
yssae of Bonds Necessary to stop the
Continued Outflow Of COLLIDE
Acfency for the Year of s@S-<os.-
2se. or sfs,soi. s77 Less Than for
the Year PrecedinE-

Washington, Nov. z-The annual re-
port % Daniel E. Morgan. treasurer OF the
limited States. shows the net ordinary rev.
rEsses Of the government during the fiscal
year ended June a. Iss. 10 have been
Sz.E g7s.1N aud the expenditures Sa-s---'-
~. leaving deficiency FOR tie year or
8, ~ rs. OF 81, egi ST less than during the
rxrecedinz fi@c&1 year.
The report SHOWS thai during the last
fiscal year there was az increase OF Vs.
sz5ts4 IN the receipts from customs anu
ar Increase cs IA. 10 from Internal rev.
euae sources: an increase Of ", fis,e-- from
miscellaneous sources. loss OF sss,s-@
from the sale OF public lands. making the
ref increase in the receipts sis.5ssy Is. Tias
decrease In the expenditures amounted 70
ss.si5 So
The report shows that the total re-
<elofs from the four bond sales since lsss
were -. ia "a
Referring TO The condition Of the treas
mr. during tas .ast year. the treasurer
says:
white the cash balance IN the treasury
has afforded a comfortable workin1 IHha
and would have done 50 without ausneh-
t&t.0n from loans the gold reserve hAs
bern the causs Of much concern. ailn has
lseen main tanned oaly AT the cost OF
fresh tsssse OF bonds aud By the voluntary
routFfhnfi0ns Of banks and financial IN
efgtufions With tbs exception OF bricf
period Ia the autumn OF is@ and another
IN the spring Of lSa&. the ruling rates OF
foreign exchange were suen throughout
the year as . permit, IL not require. the
export or gold"
The report then follows with a detailed
review eg the fluctuations OF the gold re-
serve during the year, as caused by the de-
fEands OF business. Brief reference Is
made 70 the action Of tbs bankers OF the
principal cities In joining together in the
movement OF relief at a time when the
outw ard iow Of gold was steadily depict
ing the reserve. Then. after referring TO
the more recent turn OF the tide. when a
favorable turn in foreign exchange first
checked the outflow OF gold and later set
81 action a rapid current ia the opposits
direction. the report continues:
In ordinary times and under ordinary
circumstances there Is a natural flow OF
gold toward the treasury. which often Is
Bfaifca only bN the capacity OF the treas
ufy 20 carry the specie.
F0rtnnare. indeed, has IL been for the
sTaAnry. that even during the most crit
icaI period through which the country
has recently passed. the currents Of the
flow have not hseE altogether checked,
and where the volume has been materi-
ally diminished the loss has been partly
made good by the assistance OF financial
Institutions In the fifteen months ending
with September last. the Withdrawals OF
gold from the treasury for notes amount
cd 10 the Immense sum OF $40. s12 20s,
sources attained a total OF 81. Is. ao2'
The pubic debt outstanding June 30.
1896. Is shown to have been s.. s69, So. 322s.
and on June 80 1895. 81. s76 ID. sS3. Accord
Ing TO the revised estimates OF the depart
ment. the composition and distribution Of
the monetary stock on June -. 1855. was
a. follows.