The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1898-12-07


The aggregate receipts of the fiscal
year, under warrant, as shown by the
report of the treasurer OF the United
States were $788 549, 255 20; and the dis
bursements, 1927, 5SS, 124. so. There was
consequently a decrease of $3.50, OBS,
500 go in the general treasury balance,
which stood at 1854, 790, 237. II at the
opening of the year and at SITS, 151,
36S II at the close. Besides the ordinary
revenues, there We're receipts on ac-
count of the public debt which sWelled
the total income available in the fiscal
operations of the government to
S4Sl, 612, 255 20, while corresponding ad-
ditions to the ordinary expenditures
brought the total on this side of the ac-
count up to $543, 561, 104. so, and created a
deficiency Of $61 948, $40 so as the net re-
suit. These figures, however, do not
include any part of the loan of 5000, =
100000, the proceeds of which had begun
to come in before the close of the year
though none We're formally covered into
the treasury until afterWard. On the
side of the receipts is included the sum
of $64, ISL ,223 75 realized from the sale
of the Union Pacific and Kansas Pacific
railroads, while, on the other hand, the
expenditures are increased by S29, $780,,
952, disbursed in the redemption of
Pacific railroad subsidy bonds.
A better view of the results of the
years fiscal operations is afforded by
the changes in the assets of the treas
ury. The total holdings available in
this branch of the business show only
the insignificant falling off from $3.50, =
295. 424 20 to $275, TAI, SOB II. So unusual
a variance, as this between the ac-
counts of the department and the act
ual condition of the treasury is due
chiefly to the receipts from the new
loan, on the one hand, and to unex-
pended advances to disbursing officers
on the other.
In the character of the assets was
such an Improvement as to constitute
a substantial gain in strength The
changes were an increase in gold and,
the losses were in silver and treasury
notes. With insignificant Interruptions,
the free gold which stood at $139. 1857, =
1853 81 at the beginning of the year,
continued to increase until it reached
$1S1 ,240, 3SS 81 on May 4, 1898. After
this the extraordinary expenditures
caused by the war, together with the
depletion of the other forms Of cash,
compelled the use Of gold in current
disbursements, and drew down the
treasury reserve. by June 49, to $163. .
474057 80 After that date the proceeds
of the loan began to afford relief and
the reserve grew rapidly, until it
reached SPAS, 795 81 on October Z, 1898,
the highest point this fund has ever at
tanned Since then the necessities of
the situation have required an en-
larged use Of the coin in disbursements.
which has had the inevitable result of
diminishing the holdings, though only
to an insignificant extent.
The receipts and deposits of bullion
at mints and assay offices including
deposits, aggregated $2l5, 500 261 "a. OF
which s198.74O 492 % was gold and
16,S25, 769. 81 silver.
The deposits Of gold We're greater
than in any previous year Of our his
tory. In but one other year have the r.
iginal deposits exceeded $100,00 600. the
exception being the fiscal year ended
June 30, 1881, when they were $3.50, S39,
102 As.
Silver bullion purchased under the