The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1898-11-12
NATIONS FINANCES.
Report Of Hon. Willis II. Roberts,
United States Treasurer.
The Revenues and Expenditures for
the Year-Cost of the War with
spain-GoId balance md
Public Debt.

Washington. Nov 4-The treasurer ,
the United States. Hon. willis ii. Robert
has submitted to the secretary OF II
treasury the annual report on the tram
actions and condition OF the treasury fc
the past fiscal year. The net ordinary rev
enues OF the government were Si05,32l .SS
an increase OF $57. $50 go over those OF tn
previous year. while the net ordinary ca
penditures were $40, 36S, 5S2 an Increase q
t77.59ii23. The resulting deficiency OF s2S
O47.27i exceeds that OF the preceding yea
by sl9.99i.793. In the receipts are include
sGi,75l. 223 paid into the treasury on &C
count OF the Union Pacific and Kansas ia
clfc railroads. Out OF them were paid s23.
$50 9j2 OF the bonds issued for the eorstruc
ton of the Pacific railroads. which wen
to Increase the expenditures.
wnr Expenditures.
Up TO the close OF the fiscal year the In
crease OF the expenditures on account o.
the war with Sapn was Si3.Oil.732 for tn'
war department.. and s2i262.i3S for the
navy department.. For the four months
OF July, August. September and Octebsr
1893 the expenditures of the war DEPART
ment were sIO7520,3Gs. being Sl,6lS,l3l
greater than for the same months In 1917.
For the same months This year the navy
tlcpartment expended $N,459577, which was
slG,OIf92G more than II spent In the Ike
period In 1897. Up to october 81 the war
with Spain added to the disbursements OF
these TWO departments the sum OF Sl6i.922,-
22S
Stronger Than Scnr Ago.
Jrdcpcndently of the prospects of rev.
Cofac or expenditure the treasurer regards
the treasury as having been stronger at
the close than at the opening OF the fiscal
year the insignificant shrlnkage IN the
amount of the assets having been more
than compensated for r. the Improvement
which took place IN this character Against
q N IN, b4 f.t al
available for the fiscal operations OF the
government. there was n gain of upward
OF S2GOOOOC0 In free gold, coupled with an
Increase of nearly $4,000 600 In absolutely
secured deposits with banks, ana these
changes were effected at no greater cost
than the loss of so much In silver and
treasury notes.
The total available assets were 1871 CiST
on June 3d. 1897. and $SS9G06,736 year
later. BY the addition OF the unavailable
assets carried by the department these
totals are swollcd to So0iill,5 ard $Sf9,-
2021il respectively, On June 20, lSS. the
trrasurerg liability TO the general treas
urv furd was S77j75l .SGS, with one Of &c.,
49, 100 sustained in his capacity as the de-
prsiiory of public officers, and one of $26,-
CSC il3 for moneys paid Into his hands, but
not yet covered by warrant irto the gem
eral account.
In every year, during the period Of the
in the producing parts OF the country for
small notes. ...
The Circulation.
BY fore thought and care during the past
fscal year ard the autumn following II 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 dcnomiHa-
tiGns Of $50 and under which decreased In
volume by $l1,522157 from September 20.
1896, to the same date In 1851, Increased by
sil. Gj7 O37 IN the IL months ended Septem-
Der 30. 1893. The gold In circulation rose
steadily; by $i9,3Z7, 2G3 In the former Of the
two periods and by $9i,5J,C59 IN the latter.
The total currency OF all kinds In circu-
lat,oH shows an increase of NG,539,2i9 In the
former year and one OF Sl37755,Sji in the
latter. gain of s23i,2gi1O3 for the two
years.
National hank Statistics.
In answer to Inquiries from the west
and northwest the treasurer has prepared
a table which shows the amount Of the
capital, surplus. undivided profits ard de-
pests Of the national banks n 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 S@23579,1i6, S9lS,-
2J2 i79 ard s9S7Si0 1G6. While these figures
do not show the resources of this sort In
their completeness, they furnish irres,st-
ibie evidence of the strength which this
immense region has gathered In the In
strumcnts of commerce.
The Gold Iainncc.
Tn n 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 S2l9, 059. 232
on April g. 1888. On June 6. 1893, the amount
was $50, $50, 3Gi. the lowest in Is years, or
fsFy ItnA Ia he 1, ono, Of ,,ntfe
for gold with the banks, the net gold bal
ancc was brought up to Sl03, $50, 200 by Au-
gust TO- 1893. Another minimum mark was
reached February |, 1891, at SGj,i3S,37S. BY
the proceeds of a sale Of bonds amounting
to SS,GGO9l7, the net gold balance was In
creased to $l07, 1862 by March g. Under
reaction, however, 1t again fell 10 S5i875,-
COZ by the end OF July, 1894. Another sale
OF bonds, In November and December OF
that year. brought In $jS,7l9,TfO. and the
gold balance on December 4. 1891, was
again l1,l42,02l The remedy was eff
fectual for only brief period for on Feb
ruary IL, 1895, the treasury held only ST.
$40. Isl In free gold. Again bonds were sold,
for which payments agIregatng $65 ,42S,-
0j6 were received from February TO June.
Thus the net gold balance was carried up
TO $1G7, 59l, go by July s, 1895. Once more the
relief was but temporary, and by February
8. 1896, the gold balance had fallen to SiI,-
563.i93. For the fourth time. resort was
had 10 sale of bonds, which produced, up
10 June. l1,355,Gl2. and brought the gold
balance up TO maximum OF Si2S, 7l37O9,
from which point 1t sank again by July %,
1896, TO $S9,6G9,75.
Since that month the reserve OF 500 &c.,
900 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
traiia, with importations from Europe,
the customs and the boards of the banks
Until the beginning OF the calendar year
1898 the receipts of gold at the New York
custom house were a negligible quantity,
but In March they rose TO i76 per cent. OF
the whole; in April, to 52.7 per cent, and
after some fluctuations reached rs per
cent. In September and 79.6 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 II to accept.
The Public Debt.
4 The only change OF importance In the
public was the payment OF s29,S50952 of
The Pacific railroad bonds. The remain
der OF this loan outstanding on June 30,
was N4,13S.560, all OF which will be payable
after January I, 1899.
SINK In Collision.
Buffalo, N. Y, Nov. 1.-The Maritana,
a big steel freight steamer owned by
the Minnesota Steamship company,
crashed into the Starucca. big steel