Rensselaer Republican, Volume 28, Number 14, Rensselaer, Jasper County, 10 December 1896 — FINANCES OF THE NATION. [ARTICLE]

FINANCES OF THE NATION.

United State ß Treasurer Morgan Submits His Themnnual report of Daniel N. Morgan, treasurer of the United States, shows the net ordinary revenues of the Government during the fiscal year ended June 30, 1896, to have been $326,976,200, and the expenditures $352,175,446, leaving a deficiency for the year of $25,203,246, or $17,601,977 less than during the preceding fiscal year. The report shows that during the last fiscal year there was an increase of $7,863,134 in the receipts from customs, an increase of $3,341,192 from internal revenue sources, an increase of $2,479,622 from miscellaneous sources and a loss of $97,823 from the sale of public lands, making the net increase in the receipts $13,586,125. The decrease in the ex'penditures twnounted to $4,015,852. The report shows the total receipts from the first $50,000,000 loan of 1894 to have been $58,660,917; from the second loan of $50,000,000 of 1894, $58,719,710; .from the loan of $62,315,400 for 1895, $65,428,056, and from the $100,000,000 loan of 1896, $111,355,612.. From the first loan there was realized $52,850,264 in gold coin and $5,810,420 in gold certificates; from the second loan, $53,651,188 in gold coin and $5,608,410 in gold cettificates; from the third loan, $65,428,051 in gold coin, and from the fourth loan, $109,327,455 in gold coin and $2,026,810 in gold certificates. The total receipts from the several bond sales, therefore, were $294,164,295. The public debt outstanding June 30, 1896, is shown to have been $1,769,840,323, and on June 30, 1895, $1,676,120,983. According to the revised estimates of the department the composition and distribution of tjie monetary stock on June. 30, 1896, is as follows: In treasury In circulaminits. tion. Gold coin . .$112,589,974 $454,905,064 Gd bullion. 32,102,926 Silver dols. . 378,673,137 52,116,904 Frac, silver . 15,767,056 60,204.451 Silver bul. .. 120,933.958 1,032,565 Tot. riietallic. 660,067,051 568,258,984 .U. S. notes . 122,431.148 224.249,868 "Trees. n’s ’9O 34.638,033 95,045,247 -Nat-b’kn’s . 10,832,125 215,168,122 Gold certif. . 620,070 42,198,119 Sil. certif. .. 11,962,313 330,657,191 Cur. certif.. 320,000 31,910,000 Total paper . 180,803,989 939,208,547 Aggregate .. 840,871,040 1,507,467,531 The total stock, therefore, is $2,348,338,571, as compared with $2,399,704,688 on June 30, 1595. Since the close of the fiscal year this loss has been fully recovered, chiefly by the importation of gold.. The net proceeds.the nations 1 bank redeemed during the year were. 5107,891,026, the largest amount tor any like period in ten years, and, with the exception of three years, the largest since 1879. The expense to the banks ,of redemptions will be $1.12% per SI,OOO. The appendix to file report contains a number of new tables, which will be found exceedingly valuable to persons specially interested in the financial affairs of the Government.