The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-12-07
Total estimate revenues. .......$81o, 95s. l12 90
The Secretary adds:

The Secretary adds:
THE aggregate receipts for the fiscal year,
under warrant. as shown by the report of the
Treasurer Of the United States. were $T3S.549.-
255. 90. and the disbursements, $S27.58 8 124. 80.
There was consequently a decrease OF $780,
O38.86o.60 In the general Treasury balance.
which stood at 1884. 100. 237.7 II at the opening
Of the year and at S775.7 ISL .36S.11 at the close.
Besides the ordinary revenues. there were re-
eeipts on account OF the public debt which
swelled the total income available in the fiscal
operations OF the Government to S4S1.612.-
255.2O. while corresponding additions to
the ordinary expenditures brought the
total on this side OF the account up
to $543.561 .104.S0 and created q def
cheney OF $61. 94S. $4,000 as the net result.
These figures. however. do not include any part
OF the loan Of $780, 900. 900. the proceeds Of
which had begun to come In before the close of
the year. though none were formally covered
into the Treasury until afterward. On the side
Of the receipts is included the sum OF $e4.751.-
223.75. realized from the sale Of the Union
Pacific and Kansas Pacific railroads. while. on
the other hand. the expenditures are increased
by $29.S50.952. disbursedi in the redemption OF
Pacific Railroad subsidy bonds.
"A better view OF the results OF the years
fiscal operations Is afforded by the changes Ia
the assets OF the Treasury. The total holdings
available in this branch OF the business show
only the insignificant falling of from $3.50, 295,-
424.23 to $275. 747. S03.17. So unusual a vari-
ance as this between the accounts of the de-
partment and the actual condition of the Treas
ury IL due chiefly to the receipts from the new
lean on the one hand. and to unexpended adj
vances to disbursing officers on the other. In
the character of the assets there was such an
Improvement as to constitute o substantial
gain In strength. The changes were an
increase In gold and In deposits with
national banks. while the losses were in
silver and Treasury notes. With insignificant
Interruptions the free gold. which stood at
S139.667, 1887 at the beginning OF the year.
continued to increase until It reached $751;
24o.98a,9l on May 4. 1893. After this the ex-
traordinary expenditures caused by the war.
together with the depletion OF the other forms
OF cash, compelled the use Of gold In current
disbursements N drew down the Treasu ny
r reserve by June 10 to $685. 74. 057 80. After
that date the proceeds OF the loan began to az
ford relief snd o The 7 sSesssTve grew rapidly until
highest point this fund mas ever attained. Since
then the necessities OF the situation have re-
S$ Si1sss " sS iialaf RSs S Ssi q shs en- ls s sSia Il d rssaIs ei
ddiIin niaaG the helaings't though only to an
Srhe Secretary summarizes tho report OF the
"iThs rscsIPts and deposits Of bullion at miuts
Is s sS sSi s S|FS s;s'S |3sIssIISs l: :iisas $ss'4'o' sst5s5
On the eeigniorage no says:
-"'Ipcludipg the balances on hand atthe mints
July j. 1873. the net seignlorage on the coinage
& ss siiysE tFSS that date to June 80 1885, was
The Secretary recommends the discontlnu-
ance Of the Carson Mint, and the BIT Louis As
gay ONCE. and praises the Bureau Of Engrav-
Ing and Printing for ls work in supplying
stamps under the War Revenue act.
NATIONAL BANKS.
n
During the existence OF the national bank
OF, 81 tsss,. !. il5i pstionsl bangs we're organ
Ing the past year. 50 were organized. 90 placed
In voluntary liquidation. and7 failed, including
one of the banks In LIQUIDATION, above referred
to, making a net reduction during that period
OF 10 banks. Tho authorized capital stock OF
the banks on Oct. 81, 1903. was $b24 So, l05;
which S2i0.0Ib,45 is secured by bonds and
S~2a.60o.826 by lawful money deposited with the
treasurer Of the United States on account OF
lQuidatilG and insolvent associations and
those reducing circulation. A comparison of
the circulation account on Oct. u, 1873. with
Oct, 9l. 1897. shows an increase OF $A,bS2. I'll
IN the total amount OF circulation outstanding,
e1d Of i$6.ll6.7T6 In circulation secured by
bonds"
II WAR REVENUE BONDS,
Under the heading Loans and Currency"
Mr. Gage says:
"The Understanding debt July 1. 1897. in