The record-union., 1898-11-04
CONDITION OF
THE TREASURY.
United States Treasurer Roberts
Submits to Secretary Gage
His Annual Report on the Transactions for
the Past Fiscal Year.
Up to the Thirty-First Of October
the War With Spain Added to
the Disbursements Of the War
and Navy Departments the Sum
of One Hundred and Sixty-Four
Million Nine Hundred Thou
sand Dollars.

WASHINGTON, Nov. 3.-The Treas
urer of the United States, Hon. Ellis
E. Roberts. has submitted to the Sec
retary of the Treasury the annual re-
port on the transactions and condition
of the treasury for the past fiscal year.
The net ordinary revenues. of the Gov
ernment were S40o, ,321 ,335, an increase
of S31, ,591 ,630 over those of the pre-
viouS year, while the net ordinary eX
penses We're $I43, 3,36S, ,5S2, an increase of
$1I J94 ,423. The resulting deficiency
of $3S, ,047 ,247 exceeds that of the pre-
ceding year by SIS, 1874, 1913.
In the receipts are included $64, 751,-
223 paid into the treasury on account
of the sale of the Union Pacific and
Kansas Pacific Railroads. Out of
them were paid 500 $50, ,423 of the bonds
issued for the construction of the Pa
cific Railroads, which went to increase
the expenditures.
Up to the close of the fiscal year the
increase of the expenditures on ac-
count of the war with Spain was S43,-
OH 49, for the War Department and
$24 263, 43S for the Navy Department.
For the four months of July, August,
penditures of the War Department
We're $107 ,520,36S, being $S1 ,613, ,131
greater than for the same months in
1897. For the same months this year
the Navy Department expended S27,-
1887 which was $16,O14 ,026 more
than it spent in the like period of 1891
Up to October 31st the war with Spain
added to the disbursements of these
two departments the sum of $164 ,932, =
DDS
Independently of the prospect of rev.
enue or expenditure, the Treasurer re-
CARDS the treasury as having been
stronger at the close than at the OPEN
ing of the fiscal year, the insignificant MT
shrinkage in the amount of the assets
having been more than compensa ted
for in the Improvement which took
place in this character. Against net
loss of 81, 100000 in the total holdings
available for the fiscal operations of
the Government, there was a gain of
upward of S26 100000 in free gold
coupled with an increase of nearly S23
OOO,O0o 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 We're SS47,
764,377 on June 80, 1897, and $780,
COG, 1876 a. year later BY the addition
of the unavailable assets carried by
the department, these totals are
swelled to S9O4 AL ,776 and SS49. POP, =
941, respectively. On June 80, 1898.
the Treasurer's liability to the general
treasury fund was $575, 751 ,36S, with
one of $66,465, 16O sustained in his ca
pacity as the depositary of public
officers, and one of S26, ,9S6413 for
moneys paid into his hands, but not vet
covered by warrant into the general
account
In every year during the period of
the movement of the crops there is
demand in the producing parts of the
country for small notes By fore
thought and care during the past fiscal
year and the autumn, an adequate
stock of notes of different denomina-
tions was provided, and the exchange
of small notes for large was readily
made
The outstanding notes of the denom-
nations of $50 and under, which de-
creased in volume by $11 ,522 151 from
september 30, 1876, to the same date
in 1897. increased by S41 ,657 ,O37 in the
twelve months ending September 80
1898. The gold in circulation rose
steadily by S49,3 .263 in the former of
the two periods and by S94. .551 .O59 in
the latter. The total currency of all
KINDS IN circulate shows an increase
OF S9o,o39.2 AZ in the former year and
one of S137.To,S54 in the latter a. gain
of 4,2294, l03 for the two years.
In answer to inquiries from the West
and Northwest the Treasurer has nre-
pared table which shows the amount
of the capital, surplus, undivided
profits and deposits of the national
banks in the territory north of the
Ohio and west of the Mississippi in
July in each Of the last three wears
The aggregates for the three neriods
are successfully 1923. .979. TAG. S91S
252,419 and S9S1, $40 1876. While those
figures do not show the resources of
this sort in their completeness thew
furnish irresistible proof of the strength
which this immense region has gath
cred in the instruments of commerce
In chapter in which the Trea surar
reviews the history of the net GOLD
balance in the country. he saws tba+
prior to September 1, 1898 the highest
l.
tanned was S219,059. .232 on Anril
1898. On June 6. 1893. the amount was
SS9, ,5S9,3 1854, the lowest in fifteen wears
or from June, 1878. BY the exchange
of notes of gold with the banks. the
net gold balance was brought ND TO
sos, 3,S63, 29O by August 10 1893 An
other minimum mark was reached Feb
ruary l, 1894, at $50, ABS. .37S. Bv the
proceeds of a sale of bonds amounting
to S5S,660,917, the net gold balance
was increased to S107, ,446. .SO2 bv March
9th. Under reaction, however. it again
fell to $o4,975,607 by the end of J,,lv
1894 Another sale of bonds in No
vember and December of that wear
brought in s5S,719,71O and the gold
balance on December 4, 1894. was again
| Sill, IL, ,O21.
The remedy was effectual for only a
brief period. for on February II. IS95.
the treasury held only S41. 1S1 in
free gold. Again bonds Were sold. for
which payments aggregating $65. .42S. :
056 were received from February to
June. Thus the net gold balance was