River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1898-11-10
A NATIONS FINANCES.
United States Treasurer Roberts Sub
mits His Annual Report on the
Condition of the Treasury.

Condition of the Treasury.
Washington. Nov. 4.-The treasurer OF
the United States, Hon. Willis H Roberts
has submitted to the secretary OF the
treasury the annual report on the trans
actions and condition of the treasury for
the past fiscal year. The net ordinary rev
enues of the government We're s4o5,S2l 1856,
an increase OF S57, 597 $50 over th ose OF the
previous year, while the net ordinary ex-
penditures were S44s, SCI, $50. an increase OF
ST.. 594 423 The resulting deficiency Of $SS-
o47.274 exceeds that Of the preceding year
by s1s.Ssi,79 1898. In the receipts are included
s64, 75I. 223 paid into the treasury on ae-
count OF the Union Pacific and Kansas Pa
cfc railroads. Out of them were paid 500.
$50 952 of the bonds issued for the construc-
ton OF the Pacific railroads, which went
to increase the expenditures.
Up to the close OF the fiscal year the H.
crease Of the expenditures on account OF
the war with SapIn. was S43,04l,7S2 for the
war department, and g.. 262, 43S for the
navy department. For the four months
OF July. August, September ard October,
1898, the expenditures OF the war depart
ment were s1O7, $50 36S. being sSl,6lS.1s1
greater than for the same months IN 1897.
For the same months this year the navy
department expended s27, 459 ST, which was
sl6,014, 926 more than II spent in the like
period in 1897. Up 10 October 81 the war
these two departments the sum Of Sl64,s32,-
a2s
Independently OF the prospects OF rev.
enue or expenditure the treasurer regards
the treasury as having been stronger at
the close than at the opening OF the fiscal
year, the Insignificant shrinkage in the
amount of the assets having been more
than compensated for In the Improvement
which took place in this character. Against
a net loss of S7.5O0,000 In the total holdings
available for the fiscal operations OF the
government. there was gain OF upward
of S26. 100000 in free gold. coupled with an
increase Of nearly 500, 900 900 in absolutely
secured deposits with banks. and these
changes were effected at no greater cost
than the loss of so much In silver and
treasury notes.
The total available assets were 1874, 764 ST.
on June 80. 1897, and $3.50. 606,7S6 a year
later BY the addition OF the unavailable
assets carried by the department these
totals are swelled to s904,4 $50 and sSc9
202, 94 respectively. On June 80, 1885 the
treasurer's liability to the general treas
ury fund was SITS, Isl 1858, with one OF $685.
465 100 sustained IN his capacity as the de-
pository Of public officers, and one OF 326.-
ss6 413 for moneys paid into his hands, but
not yet covered by warrant into the gem
eral account
In every year. during the period OF the
movement of the crops, there is a demand
in the producing parts OF the country for
small notes.
BY forethought and care during the past
fiscal year and the autumn following 1t an
adequate stock Of notes of different denom-
nations was provided and the exchange
OF small notes for large was readily made.
The outstanding notes OF the denomina-
tions Of $40 and under, which decreased In
volume by 81, 522157 from September 80,
1896, to the same date In 1897, increased by
s41, 657, 037 In the y months ended Septem-
Der 30, 1898 The gold In circulation rose
steadily, by s49, 327, 263 In the former Of the
two periods and by s94, 551 .059 in the latter
The total currency of all kinds In circu-
lation shows an increase OF $50. 9.24s In the
former year and one Of $137,755,Sd in the
latter, a gain of 1924, 1884, los for the two
years.
In answer TO inquiries from the west
and northwest the treasurer has prepared
table which shows the amount Of the
capital, surplus, undivided profits and de-
posits of the 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 aggregates for the three
periods are successfully 1928, 979,746, s9lS,-
252, so and 1881, s40,16s. While these figures
do not show the resources Of this sort In
their completeness, they furnish irresist-
ible evidence of the strength which this
immense region has gathered in the IN
struments of commerce.
In a chapter in which the treasurer re-
Views the history Of the net gold balance
IN the treasury, he says that prior TO Sep
TENDER /, 1898, the highest point which this
balance had ever attained was S219, 059, 232,
on April 3. 1885, On June S, 1898. the amount
was $S9, 1864, the lowest in Is years, or
| from June 1878 BY the exchange OF notes
| for gold with the banks, the net gold bal
ance was brought up to Sl03, S63,29O by Au-
| gust 10, 1898. Another minimum mark was
/ L at
| the proceeds of a sale of bonds amounting
! to $58660, 917, the net gold balance was in
| creased to s107, 446, 500 by March 6. Under
| reaction, however, it again fell to S54,SI5,-
| COZ by the end Of July, 1894. Another sale
| of bonds, in November and December OF
| that year, brought In $40, and the
| gold balance on December 4, 1894. was
| again Sill. 142,O21. The remedy was eff
! fectual for only a brief period for on Feb
ruary II, 1895. the treasury held only $41,
| $40, 1S1 in free gold. Again bonds were sold
for which payments ggregating S65, 49,
O56 were received from February to June.
| Thus the net gold balance was carried up
to s1O7, 591, 230 by July s, 1895. Once more the
! relief was but temporary, and by February
6, 1886, the gold balance had fallen to S44,-
| 563 1873 For the fourth time, resort was
| had to a sale of bonds, which produced, up
to June, Sill 1855 ,612, and brought the gold
balance up to maximum of $l2S.uS 10g'
| from which point ii sank again by July r.
1886, TO $50 669. SIS.
| Since that month the reserve of $780, &c.,
600 has not been trenched upon. With some
fluctuations, the tendency Of the gold bal
ance has been steadily upward. The
! sources of supply have been the mines of
the northwestern states, Alaska and Aus
tralia, with importations from Europe,
the customs and the boards of the banks.
Until the be ginnlng OF the calendar year
1855 the receipts of gold at the New York
custom house were a negligible quantity,
but in March they rose to 17.6 per cent. of
the whole; in April, to ST. per cent. and
after some fluctuations reached rs per
cent In September and 1916 In October. The
tenders OF gold from banks and individuals
In exchange for paper have been greater
tran the resources of the treasury have
enabled 1t TO accept.
The only change of Importance in the
public was the payment of $29,s50952 OF
the Pacific railroad bonds. The remain
der of this loan outstanding on June 30.
was S14 1873, 500 all of which will be payable
after January /, 1899
Gen Kitchener Honored.