Democratic Sentinel, Volume 11, Number 42, Rensselaer, Jasper County, 11 November 1887 — UNCLE SAM’S LEDGER. [ARTICLE]

UNCLE SAM’S LEDGER.

Some Interesting Points from the Treasury Statement for October. I The Debt Reduced Over $16,000,000 During the Month, and $41,000.000 in Four Months. [Washington special] The statement of the Treasury for the month jtfrt closed.presents several points of interest. The customs receipts are £2,000,00 J more than for October, 1836, and nearly $5,090,000 more during the first four months of tne fiscal year than during the same portion of the previous fiscal year. The internal revenue receipts show a gain of $1,009,030 for the month- and more than £3,000,000 for ths four moot hs. The miscellaneous receipts show more diminution for October, and a trifling increase for the fiscal year current. The aggregate receipts show an increase of $2,250,000 for the month and over £25,500,0J0 for the last third of the fiscal year. Toe surplus revenue for the month was sll,500,00 u, and for the four months a little more than $29,009,000. As compared with the same month last year, the ordinary expenditures for October show a decrease of £2,500,000, and as compared with the same four months Of Jast year the ordinary expenditures since July 1 have fallen 'off more than ja,000,009. Pension payments snow, a failing off of more than fcl.aOO.oOO for the month, but an increase of considerably more than for four months. For the last four months the payments nave aggregated but a few thousand less than $3z,060,000. The interest payments reductions. The total disbursements show a reduction of over $3,009,000 for the month and an increase of more than $3,590,0. 0 for the lour months. The reduction of the national debt, or the total debt less cash in the Treasury, was $16,833,695 for October and $40,736,03 j for the four months. The reduction of nearly $17,00vj,000 in the net debt during October was effected by a redemption of over $5,000, 09 of bonds and an increase of $11,4t 9.039 in the cash balance or socalled surplus in the Treasury. The reduction in the principal of the interest-bearing debt during the last four months has been $44,545,12u, and the surplus has increased nearly sll,500,000 since Sept. 30, and nearly $16,000,000 since June 30. The transformation of the Treasury’s silver into gold is going on with marked rapidity. When the present administration came in the stock of gold was low and running down, and the stock of silver was large and increasing, and there! was no very great difference between the amounts of gold and silver held in the Treasury. The last Republican Secretary and the first Democratic Secretary for some months were afraid to pay out gold for bonds lest the gold should be exhausted and the Treasury be compelled to force silver payments on rhe Government creditors. Since the administration began the bold policy of redeeming bonds freely, the gold has nearly doubled, though disbursed liberally, and the silver has fallen off a third or more, though forced upon no -no. The Government now holds in gold $202,859,932 —considerably more than it ever owned before —an increase for the month of iqore than M 0,000,009, and for four months of nearly $16,000,00u. The silver owned by the Government is $58,182 571—a decrease of nearly $j,509,0j0 for the month and of more than £15,000.0j0 in four months. Since July 1 the Government's gold has increased more than $15,000,000 and its stock of silver has decreased more than $15,00.-,000. The circulation of silver has increased, both in the form of certificates and in the form of coins. The outstanding silver certificates have increased for the month $6,359,131, and for four months $18,595,940. The silver dollars in circulation have increased $2,244,264 for the month, and $7,084,478 for the four months. On the other hand, the net reduction in the circulation of national banks was £B5l, 27 for the month and $19,433,546 for twelve months. While nearly $2,500,009 of national bank circulation was surrendered and destroyed in October, $238,520 was issued to new banks and sl, .48,289 was issued to banks increasing their circulation. The outstanding national bank circulation amounts to $271,801,274, of which $169,215,067 is secured by tbe deposit of bonds and $102,586,2u7 is represented by lawful money deposited with the Treasurer to redeem this portion of the national bank circulation. How little silver is being paid into the Treasury is shown by the fact that the percentage of silver certificates in the receipts of the New York Custom House has fallen off from 16.2 in January to 9.1 in October. The gold certificates formed about 3 percent, of the tot 1 in July, 1886, which is about the time the redemption of bonds was resumed, and since September, 1»86, the gold certificates have formed never less than two-thirds of the total and most of the time about three-fourths. For the last three months they have been nearly four-fifths of the whole. The present surplus, if calculated as it was under previous administrations, would be £186,881,803. Following is a recapitulation of the public dobt statement issued on the Ist inst., cents omitted: INTEREST-BEARING DEBT. Bonds at 4% per cents 230,544,600 Bonds at 4 per cent 732,447,550 Refunding certificates at 4 per cent. 155,030 Navy pension fund at 3 per cent.... 14,000,000 Pacific Railroad bonds at 6 per cent. 64,623,512 Principal3l,o4l, (70,742 Interest 7,762,243 T0ta151,049,532,985 DEBT ON WHICH INTEREST HAS CEASL-D SINCE MATURITY. Principal $3,460,105 Interest 181,465 Total $3,641,570 DEBT BEARING NO INTEREST. Old demand and legal-tender notes $346,738,121 Certificates of deposit 7,215,000 Gold certificates 99,684,763 Silver certificates 160,713,957 Fractional currency (less $8,375,934, estimated as lost or destroyed)... 6,943,916 Principal £621.295,767 TOTAL DEBT, Principa1£1,666,526,614 Interest 8,550,100 T0ta131,675,076,715 Less cash items available for reduction of the debts 379,625,308 Less reserve held for redemption of United States notes 100,000,000 TotalS 379,625,308 r ■ Total debt less available cash item 541,295,451,406 Net cash in the Treasury 56,758,704 Debt less cash in Treasury Nov. 1. 188731,238,692,701 Debt less cash in Treasury Oct. 1, 1887 1,255,526,396 Decrease of debt during the months 16,833,695 Decrease of debt since June 30, 1887 40,736,035 CASH IN THE TREASURY AVAILABLE FOB THE REDUCTION OF PUBLIC DEBT. Gold held for gold certifieat©s-aetu-ally outstanding £96,684,773 Silver held for silver certificates actually outstanding 160,713,957 U. 8. notes held for certificates of deposit actually outstanding 7,215,000 Cash held for matured debt and interest unpaid 11,493,813 Interest prepaid not accrued per department circular No. 90 606,392 Fractional currency 1,372 Total available £279,625,308 RESERVE FUND. Held for redemption of U. S. notes, acts January 14, 1875, and July 12, 1882.. .. s 100,000,000 Unavailable for rod action of debt: Fractional silver coin $ 24 46* 135 Minor coin "51’400 Total-....$ 24.519,535 Certificates held as ca5h.36,479,652 Net cash balance on hand. 56,758 704 Total cash in Treasury as shown by the Treasuror’s general account. .$ 497,383,201