| Show THE TREASURERS BEFOUL Operations and Condition of the Nations Money Vnnlt IoneynnI Washington Nov 26 United States Treasurer Morgan has submitted to Secretary Carlisle his annual report on the operations and conditions of the treasury I shows tlje net ordinary revenues for the fiscal year of 1893 were 385819625 an increase of 30 851844 over the previous year The net ordinary expenditures were 5383 447554 Increase 38454623 There was a decrease of 7772779 in the surplus sur-plus revenues reducing them to 2341 674 Including the public debts the total receipts were 732871214 and the total expenditures 773007593 The public unds amounted on June 30 1892 I publc to 786351895 and on June 301893 746 538655 There was left In the reserve or the general fund 187012740 in 1892 and 1CS1G7331 in 1893 The actual available working balance Is 165945 886 and 156295696 on the two dates respectively By September 30 this balance will be diminished to 149250 26S owing to the deficiency in the revenues In the seven months beginning last December upwards of 81000000 was drawn out of the treasury in redemption redemp-tion of notes and the gold reserve was reduced during the same period by f 29000000 During the last three months with light redemptions and a deficiency of I i 19000000 in the revenue the treasury < lost 15000000 pf gold but the reserve fell off only 2000000 The amount of gold during the fiscal i year was the largest ever taken out of the country or brought into it in a like I period being upwards of 108600000 and 5102000000 of it was drawn out of the treasury by the presentation of legal tender notes With the exception of an increase of 45000000 in the amount of treasury notes issued in the purchase of silver bullion and the combined com-bined volume of gold certificates and currency certificates there has been the report says no important change in the public debt According to the revised estimate the total stock df money of all kinds In the country on June 30 was 2323547977 or nearly 51000000 less than last year The contraction con-traction took place notwithstanding the addition of 45000000 to the stock of silver and the increase of 60000000 in outstanding bank notes and was caused by exports of gold in July However How-ever there began a heavy return movement move-ment of metal supported by a rapid expansion of the bank note circulation By the end of September the stock of gold was restored to what it was when the exports began The total Increase of effective stock money In three months was no lower than 95000000 bringing It up to a figure much above the highest ever reached before The treasurer remarks that this sudden sud-den contraction and expansion within the space of eleven months affords a striking illustration of the degree of flexibility possessed by currency The revised figures for the amount of money in circulation that is outside out-side the treasury on June 30 place it at 1596846829 or about 6000000 less than the year before During the four months ended with October there was an increase of 125000000 a record altogether without a parallel in the history of the country The redemptions redemp-tions of United States paper currency has been unusually heavy amounting to 377000000 In the fifteen months ended with October During the past two fiscal years there was recoined nearly a fifth part of the whole estimated mated stock of subsidiary silver The report says that there is an expected Increase of the popularity and usefulness of this part of the currency |
