Democratic Sentinel, Volume 10, Number 46, Rensselaer, Jasper County, 17 December 1886 — THE TREASURY. [ARTICLE]

THE TREASURY.

Business of the United States Treasurer’s Office During the Last Fiscal Tear. From the annual report of tho Unitad States Treasurer it uppe&rs that the net receipts of the Government during the year ended June SO were $336,439,727, and the net expenditures $242,483,138. The excess of revenue over expenditure was $93,9.0,589. The net receipts for the last fiscal year over those of 1885 are $30,492,817. Tho receipts on account of the BostotHce Department, not inclai.ed in the above statement, amounted to $52,997,135, an increase of $5,087,399 over those of the preceding year; the expenditures increased from $50,320,314 in 1885 to s>o,082,565 m 1883, or $350,271. Bonds of the United States amounting to $44,531,350 were redeemed and applied to the sinking fund. Coupons from bonds of the United btutes amounting to $7,557,• 412 were paid by the assistant treasurers. Interest amounting to $42,498,687 was paid on registered bonds of the United States, including tho bonds issued to tho various Pacific railroad companies. Coupons from 3,05 per cent, bonds of tho District of Columbia amounting to $105,441 and registered interest amounting to $416,418 were paid. Of bonds held in trust for national banks $61,012,400 were withdrawn, of whii h amount $50,925,3 »0 was held to secure circulation, and $4,117,100 was hell is security for deposits of public moneys. The bonds dej ositod to replace those withdrawn on account of circulation amounted to $20,754,900, and on account of deposits to $0,170,000, a total decrease of 331,117,(>OO. The total movement of bonds held for national bunks was $57, '67,80(9, Worn and mutilated United States notes amounting to (61,009,000 were redeemed during the year. Tho issuo of silver certificates was $4,800,000, and $28,523,971 were redeemed Gold certificates amounting to 810,185,895 wore redeemed. Tlie unavailable funds of tho Treasury Juno 30,1880, were $29,521,397, a deer uso of $3,946 from last yoar. Tho balance in tho Treasury at the close of the year ended Sept. 30, 183, was $100,055,775, on increase over that of 1885 of $10,815,030, The available balauco wus $72,913,141, against $58,922 191 last year, an increase of $13,91,0,919. The Treasurer suggests that tho largo sums held by mints and assay offices bo placed in tho aotual custody of tho Troasury. and tho duties of the mint officers ho confined to tho assaying and coinage of the bullion placed in their charge. On the subject of altering the present SiubTrensury Bystom, as rendered uocesHury by tho financial changes in tho country, tho Treasnrei save : “With the extinction if 3 per cent, bonds w h eh must take place during the ensuing fiscal year, tho only bonds available for the purposos of the sinking fund will bo4'<j and 4 per oent. bonds. These are new selling at a prioo which averages very little more than 2 per cent, per annum to tho purchaser upon the oost, arid it may fairly bo assumed that tho rate of 2 per oent. is maximum rate to ho earned during tho lifo of these bonds. At the prosont cost of the collection of tho revenue of the oountry, Bay $3.70 per SIOO, tho leas on tho existing sinking fund, say $45,()U0,0i)0 per annum, will lie $765,000 annually, assuming 2 per cent, as the best rate which the bonds can earn. “Without diHoussing tho consequent possiblo derangement of our existing financial system. If the purchases for the sinking fund are to be maintained at their present figures, it will be found to bo impracticable to make those purchases at such times and iu such manner as to relieve tho money market in times of financial distress. As those derangumeuts liapiieu almost invariably at tho time of the moving of tho crops of tho country, this statement is equivalent to saying that every productive interest in the country must pay toll to foreign buyers, through tho lower rango of prices which obtain at such times, becauso of tho fact that our arrangements for collecting and disbursing our revenues aro so defective as to need an artificial und violent remedy iu order to placo in active cfrculst on tho moneys withdrawn from tlie business of the country. ’ The total amount of United States notes outstanding is $340,651,010. Tho amount of silver certificates nominally outstanding at the close of the fiscal year was $110,977,675, of which amount tho Treasury held $27,801,450, leaving $88,110,225 in actual circulation, a doereaso of $13,414,721 during tlie year. This amount has since beon added to by tho demands of business, so that the amount in circulation Nov. 30 was $lO >.519,817. There Ih now iu circulation $61,701,448 in silver dollars.