The age-herald., 1898-11-04
were received from 5 the net gold ball
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aggrega Fere received from Februa the net gold bal ance " $107, ,591 ,230 by July 8, 1895 Once more tne relief was but tenn porary, and by February 8, 1896, the gold balance had fallen to S44, ,493
 Another sale of bonds in November and December of that year brought in s5S. .719, ITO. and the gold balance on December 4, 1894, was again 111.142.O21. The remedy was eff fectual for only brief period, for on February Il, 1895. the treasury held only $41, ,S4O, 1s1 in gold. Again bonds were sold, for which payment aggregated s65, ,42S o56 were received from June. Thus the net gold balance was carried up to s107.591 230 by July 8, 1895. Once more the relief was but temporary, and by February 3, 1896, for the fourth time resort was had to a sale of bonds, which produced up to June $111. .355,612, and brought the gold balance up to a maximum of $12S,613,709, from which point it sank again by July g, 1896, to $S9, 9,669 975. Since that month the re- serve of $10o0O0,0 900 has not been trenched upon. zesa4.
 The sources of supply have been the mines of the northwestern states, Alaska and Australia, with importation from Europe, the customs and the hoards of banks The tenders of gold from banks and
 
 been greater than the resources of the treasury have enabled 1t to accomplish. The increasing product of the war revenue act coupled with the proceeds of the war loan, gave rise to natural apprehension that the drain upon the currency of the country might create a stringency which would be harmful to business. As a fur ther measure of relief circular by the secretary of the treasury giving to the holders of $14004,560 of Pacific railroad bonds which fall due January 1, 1899 the option of receiving payment of principal and interest In full with a rebate of one half of one per cent. The same option was afterward extended successfully to October and November.
 When it became obvious by the sudden close of hostilities that the demands upon the treasury would not reach the magni- tude for which provision has prudentially been made, the secretary determined to deposit larger share of the proceeds of the popular loan in national banks in all parts of the country. By this process the funds, while at all times available for the use of the government, remained in the channels of trade. The balances standing to the credit of the treasurer on this &C., count on the 31st day of October was $65,- 750.909, The result of these methods of dealing with the situation has been in all respects satisfactory, and the immense financial operations of the war have been conducted so that the money markets have been in no degree disturbed at any time.
 The only change of importance in the public debt was the payment of $29 $50. .952 of the Pacific railroad bonds. The remain der of this loan outstanding on June 30 was $14 133, ,560. all of which will be payable after January 1. 1S99 The gradual increase of the circulation of subsidy coins has been from 2S,000,000 to a little over 900 will soon make 1t necessary to provide a fur ther supply of this class of currency.
 The receipts of national bank notes for redemption for the year amounted to ST. 112,000, as compared with $113,574 900 for the year preceding. The total expenses of re- demption were s125 574,0 ,045. and the annual assessment on the banks is at the rate of $1.29-646 for each $1 900 of notes redeemed. As result of the retirement of a large block of Pacific road bonds there were un- usually heavy deposits of lawful money during the early part of the year for the reduction of the bank note circulation. but since the appearance of the new 3 per cent. bonds on the market the volume of these notes have increased at raet without pre- cedent in recent years.