Treasury Exhibit

Tho Treaimrer of the Unitod Staten, in )ii annual report of tho operaUoim by the Troasury during tho laat fincal year, makes the following exhibit regarding tho rocoipts and expenditures, a comparad with tho fiscal year onding Juno 30, 1876. That ending June 30, 1877, show a decreaso in net revonues amounting to $18,481,452, and decrease in net expecdïturcs of $19,799,788. The net rovemies for tho fiscal year were $269,000,586 ; net expenditures, $233,660,008- making an increaso of ruud3 amounting to $30,34.0,677. It is observed at, wbile the revenue from custome, landa and niiwellaiieous sourws ha deoroased year af ter vear since 1873, the rovenue dorived from intornal revenno, so-called, hun increased, tho roceipts from that source iu 1874 having boon $102.409,784, and ia the fiscal year of 1877, $118,630,407. The total amount of "unavailable monoys" carried In balances of account in the Troasurer's offices was as foUows: Juno, 30, 1876, $29,899,520; Juue 30, 1877, $29,62(1,888. The theory of public account ík Unit the Treasurer of the United States shall be charged. p- on a wrraiit of tho Seoretary, wilh all monoys reoelved into tho trcasrtry, and for which, wheuevor received, he is held accountahlu uutil the name are propcrly disbnrsed under tome appropriation mado pursuant to ]av. It has, however, oecurred that, hice 183G. the sum of $29,625,838 over aud abovo the amount of public inoney which ban been properly accoriuted for, has, by reason of a deposit of surplus revenue with twenty-six States of the Union, by deficit, by default, by theft. in variuns places, and by fuilnre In depository banks, gone from tho curttody of tho Treasurer, which it seems he cannot, from the nature of tho case, account for, and thoreby obtain credit therefor on the books of the department, and, for the the convenience of the operations of the doI partment, this amount is carried in tho account an unavailablo. Tho Treasurer thinks ; there ehould be legislation authoiizing the I opening of an " appropriation account " upon the books of tho deparlment in which, under the head of (i unavailablo," the Treasurer may receivo credit for the mimo now aDd hereafter from time to time becoming unavailable, and i that tho pemon, bank, or State properly ! chargeable may be debitod witii the vnrious items by warrant upon their account ntated by : the proper accounting ofiicers of the treasury. Although the mouthly debt statement of the department was never intended to show the conditiou of the treasury and tho amonnt and kinds of funda on hand, yet many deductions are sought to be rnade from time to time, as if tbat publication gave the liabilities and assets, and not merely the eondition of the debt. Tho only items of cash in the treasury which the debt s;aii;mcnt include are the general currency balance and the general coin balance. ■ The curreucy balance, as it appears in the i mouthly (statement under the term "cath in treasury, curreney, " is BÜnply the amount of ciu'rency that would be left in tho treasury af ter the paymont of all curreney demands in full, ! and also of the item "cash in treisury, coin." There i, in advlition, tbe amonnts held for the : redemption of Clearing-House certiíicateí', of ! which the amonnt outstanding are noted in i the statement, beside which, not mentioned there are fuuds to the credit of the disbursine ofiicers for redemptioa of notes of national banks failed, iu liqu;datlon and ieducing cir! culation, to meet outstanding checks and draf ts for tho benefit of the creditors of national banks, the balance of the 5 per-cent fund, and others. A comparative statoment is giveu showing iu detail, both in coin and curreney, j tho liabilities and assets of tho treasury on Sept. 30, 1876 aud 1877. Theso aggregates are I as follows : Coin, Sept. 30, 187G, $67,586,805 ; i Sept. 30, 1877, $133,585,072. Currencv, Sept I 30, 1876, $100,437,760 ; Sept, 30, 1877, $110 - 0i6,03'J. j Kegarding tho long-mooted question whother ! logal-tender notes deposited for rtdemption of the circulation of failed, reducing and liquidatI ing banks are held as a separate fund, it may be said that there is no provisión of law which requires that such notes should be so held,and, as a fact, they have never been held set aparl : and distinct from other funds in the treasury. There is, without doubt, in the various ollices and various vaults of the treasury a sufficienl amount of United States notes to redcem al! mich banks' notes if presented simultaneously for redemption, hut they are not always iti the vaults of the ollice whore reüemptiou is required to be made. A recapitularon of the silver payments made in pursuance of tho act of April 17, 1876, includinj paymeuts from April 18, 1876, uutil and including October, 1877, howa an aggregate o) ?23,156,lli2 of silver issned for fractional cur. reucy redeemed and destroycd, and $13,464,569 of silvcr isjued in lieu of or in exchauge for curreney, making a total of $36.620,732 Upon ( an official estimule of $8,083,573 fractional currency lost in circulatiou, there may be still isj sued, before the limit of $50,000,000 is reachod $10,269,061 in exchauge for fractional and t $3,110,206 for curreney obligations.