Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1898-11-10

Washington, Nov. 4.-Treasurel
Robert Robinson Thursday submitted
report on the conditions OF the treas
ury for the past fiscal year. The net
ordinary revenues of the government
were $405,321 1885, an increase of $751;
59l $50 over those Of the previous
year; while the net ordinary expendi-
lures were S443,368, 582, an increase Of
$T7, 594,423. The resulting deficiency
OF $38,047,247 exceeds that of the pre-
ceding year by S19,994,793. In the re-
ceipts are included S64,751 ,223, paid in
to the treasury on account of the sale
OF the Union Pacific and Kansas Pa
clfic railroads. Out of them were paid
$29,S5O,952 for the bonds issued for
the construction OF the Pacific rail-
roads, which went to increase the eX-
penditures. Up to the close of the fiscal
year the increase of expenditures on
account of the war with Spain was
S45,041,732 for the war department and
$24 ,262,438 for the navy department.
For the four months, July, August,
September and October, 1898, the eX-
penditures OF the war department were
SlOl,52O,368. being $81,613,131 greater
than Tor the same months in 1897. For
the same months this year the navy
department expended $27,459,677,
which was $16,014,926 more than it
spent in the like period of 1897. Up to
October 81, the war with Spain added
to the disbursements Of these two de-
partments the sum of S164, 932,288.
Independently OF the prospect Of
revenue or expenditure the treasurer
regards the treasury as having been
stronge at the close than at the open
ing Of the fiscal year, the insignificant
shrinkage in the amount of assets hag-
ing been more than compensated for
in the improvement which took pace
in their character. The total avail
able assets were $874,764, 377 on June
80, 1897, and $3.50, 606,736 a year later
The total currency Of all kinds in
circulation shows an increase Of $685.,
539,249 in the twelve months ending
September so 1897 and one Of $173,-
755,S54 in the twelve months ending
September 80, 1898, gain of 1924, 294,
103 for the two years. The treasurer
has prepared a table which shows the
amount OF capital, surplus, undivided
profits ana deposits Of national banks
in the territory north of the Ohio river
and west of the Mississippi in July in
each OF the last three years. The ag-
gregate for the three periods were
successfully 1928, 1919, 746, 9l8,252, 479
and 1887 SAC, 166. The treasurer also
gives some very interesting figures on
the gold balances in the treasury for
the past ten years, reviewing at length
the different issues of bonds and other
transactions by which the gold re-
serve has been kept up.
Commenting on the action of the
treasury department in depositing
large share of the proceeds of the pop
ular loan in national banks, Mr.. Rob-
erts says: BY this process the funds,
while at all times available for the use
of the government, remained in chan
nels Of trade, and the immense finan-
cial operations OF the war have been
conducted so that the money markets
have been in no degree disturbed at
any time" The gradual increase of
circulation Of subsidiary silver coins,
which has drawn down the treasury
holdings of them in the last fifteen
years from $29,000,000 to a little over
100000, the treasurer says, will soon
make it necessary to provide further
supply of this class of currency.