New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-11-04
THE TREASURER'S REPORT
MR.. ROBERTS REVIEWS THE OPERA
TONS OF HIS BUREAU.
RECEIPTS AND EXPENDITURES OF THE LAST
FISCAL YEAR-cosr OF THE Wharf.-The
GOLD BALANCE AND THE


Washington Nov. 3-Ellls H. Roberts the Treas
urer OF the United States. has submitted 10 Secre-
tary Gage his annual report the transactions
and condition OF the Treasury for the last fiscal
year
The net ordinary revenues OF tho Government
sD5 32l s Increase of s57 6s7 $50 those
OF the previous year while The ordinary
penditures $50 Increase OF 81 5s4&23
The resulting deficiency OF s3S 4 exceeds that %
the preceding year by Nese47s3. The receipts in
cude E4.7 223 paid into the Treasury on account
OF the sale o. the Union Pacific and Kansas Pa
cifc railroads Out OF them were paid so9. S0s52 OF
the bonds issued for the construction OF the Pacific
railroads. which went to increase the expenditures
Up 70 the close OF the fiscal year the increase In
expenditures account OF the with Spain
s3 04 1872 for the War Department, and 4 22 ABS for
the Navy Department. For July. August. Sep
tember and October. 1893 the expenditures OF the
War Department were S07,52oSs. being ss1 .si3.i3
greater than for the four months in 1897. For the
same months this year the Navy Department
pended ST 1851. which s9s more than 4,
spent In tho corresponding period In 1897 Up TO
october 81 the war with Spain added to the dis
bursements OF these two departments the sum OF
ssAs32223.
TREASURY'S POSITION STRENGTHENED.
Independent OF the prospect OF revenue ex-
penditure the Treasurer regards the Treasury
having been stronger at the close than az the open
ing OF the fiscal year. the Insignificant shrlnkage
in the amount OF the assets having been more than
compensated for by the improvement which took
place IN their character. Agains, a net loss OF
$4,000 in the total holdings available for the
fiscal operations OF the Government. there
gain OF upward OF S6000O00 In free gold. coupled
with on increase OF nearly s23 10000 in absolutely
secured deposits with banks and these changes
were effected at greater cost than the loss OF
much in silver and Treasury notes.
The total available ss14 6is7- on June
apJs a.cr D,,. no aif lion
OF the unavailable assets car ried by the Depart
ment these totals increased 20 SOCIALISTS and
$500 a2 94l respectively. On June 3d. 1885 the Treas
urer's liability to the general Treasury fund
55l.2ss with OF sss4s5,l6o sustained in his
capacity as the depostary for public officers and
OF s2s .4l3 for money shipped into his hands
but not yet covered by warrant into the general
account.
Every year in the period OF the movement OF crops
there is a demand in the producing parts o. the
country .or small! notes. BY forethought and care
In the last fiscal year and the autumn following IL
an adequate stock OF notes OF dferen; denomna-
lions was provided and the exchange OF small notes
for large was readily made. The outstanding notes
o. the denominatio OF twenty dollars and under
which decreased In volume by sl522l5' from Sep
TENDER 30 1896 70 the same date in 1877. increased
by 81 $50 037 In the twelve months ended September
80 1895 The gold in circulation steadily by
$40 49, s3 in the former o, the two periods and by
t9i 81 059 in the latter. The total currency Of all
kinds in circulation shows increase OF s96.539 2is
in the former year and OF sl3 $50 s5t IN the
latter. a gain o, 1924. 2s4 lo3 tor the Two years
In answer 10 Inquiries from the West and North
west. the Treasurer has prepared a table which
shows the amount OF the capital. surplus. undlvde1
nrofts and deposits OF the National banks in the
territory north o. the Ohio and west Of the Mis-
sissipp In July In each OF the last three years Inc
aggregates for the three periods are s923s''i6'
1918 25241s and $685. sols6. While these figures do
not show the resources OF this sort in their COM
pleteness they furnish irresistible evidence OF the
strength which this immense region mas gathered
In the instruments OF commerce.
INCREASE OF THE GOLD BALANCE.
In a chapter in which the Treasurer reviews the
history OF the net god balance in the Treasury he
SAYS that prior 10 September !, 1898. the highest
point which this balance had ever attained was
s2le 90 2S2 on April 3. 1883. On June g. ls'S the
amount was $50 $50 1854 the lowest in fifteen years. or
from June 1873 BY the exchange OF notes FOR gold
up 10 yOS 500 go by August 49, 1893 Another mini
mum mark was reached on February ]. l%i, al
amounting TO s5s 81 the net gold balance was
Increased to slO SOP by March G. Under reaction;
however it again fell 10 s+F'9V' 10y me end o;
Julv 1894 Another sale o, bonds in November and
December OF that year brought in s's'ls no ana the
gold balance on December !. 1924, was again SlII.c
ii2o2 The remedy was ehecua for ony p hl
period for on F. o & 5n bonds were sod
for which payments agsresating s6542seS6 were ,
rsGeyed from d rfolaT 4 10 ioss o BY July @
Once more the relief was only temporary. am ny
s b the eu FGd time ' hsd TO
sale OF bonds whch pr9dueed up 10 June n st
'Imiy p. 1896 to 1869 s75 ....o,o,,o -.
sine So na 5Ien mSn9" upon With nuctuations
the tendency OF the gold balance has neen staadty
nPwaro, the SoTthwestern states Alaska and Aus
praiia with importatons from Europe, the GUS
lining Of the calendar year 1895 the receipts Of
god at the New-York Custom House were Q neg
Ileihle quantity but in March they rose TO lS per
cent Of the who.e, in April 10 81 per cent. ana.
after fuctuations reached - per Ter Se,t I'm IN
ders OF gold from banks and individuals In eX-
change for paper have 6een snad 'han aceep
PREVENTING FINANCIAL sTRINGENCY.
The Increasing product OF the War Revenue act.
together with the proceeds OF the war loan. gave
rise 10 a natural apprehension that the drain on
the currency OF the country might create strin-
gency which would be harmful to business 10
prevent such result notice was given that al
coupons falling due on October might be pre-
scented for payment on or after September 10. ana
that checks for interest on registered bonds OF the
same loans would be sent out on September 20 or
n further measure OF relief a circular was issued
by the Secretary OF the Treasqiry gmE TO ine
s9de5s OF aa aS' OF 1879 the option Of recsVns
payment OF principal and Interest in full less
rebate OF one-h alt OF per cent me same option
was atterward extended successfully 20 October
and November -, -.
When It became obvious by the sudden close o,
hostities that the demands on the Treasury would
rot reach the magnitude for which provision had
nrudentlv been made. the Secretary determined 10
denos large share OF the proceeds OF the popu-
lar loan In Nationa! brnks In all parts ~ me
country BY this process the funds whlIe AZ al
times available for the use OF the Government. re-
NAMED IN the channels OF trade The balance
standing 10 the credit OF the Treasurer on this &C.
count on October 81 *65 5000 The result o.
these methods OF dealing with the situation mas
In - satisfactory.
financial operations OF the war have been conduct
ed so that the money markets have been in no de-
gree disturbed at any time.
THE PUBLIC DEBT.
The only change OF importance in tho public debt
was the payment Of s2a SO 952 OF the Pacific Rail
road bonds The remainder OF this loan outstand-
Ing on Jure 30 was N4l33.5Go all OF which will be
navahle after January l. 1899