The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-11-04

Roberts, has submitted to the secretary
of the treasury the annual report on
the transactions and condition of the
treasury for the past fiscal year. The
net ordinary revenues of the govern
ment were S405, ,321. .355, an increase of
S57, ,597, $50 over those Of the previous
year, while the net ordinary expenses
were S443, 1865, ,5S2, an increase OF ST.
594, ,423. The resulting deficiency of S5S,-
O47, ,247 exceeds that of the preceding
year by $19.994, 79S.
In the receipts are included S64, 751. .223
paid into the treasury on account of the
sale of the Union Pacific and Kansas
Pacific railroads. Out of them were
paid $29. $50 552 of the bonds issued for
the construction of the Pacific rail-
roads. which went to increase the eX-
penditures.
INCREASED EXPENDITURES.
Up to the close Of the fiscal year the
increase of the expenditures on account
of the war with Spain was S43.041.7S2 for
the war department. and 24262. .43S for
the navy department For the four
months OF July, August, September and
October, 1898, the expenditures OF the
war department We're S107. $40, ,36S, being
$S1, ,613 131 greater than for the same
months in 1897. For the same months
this year the navy department expend-
ed S27, ,459, ,577, which was S16,014.026 more
than it spent in the like period in 1897.
Up to Oct. 81 the war with Spain added
to the disbursements Of these two de-
partments the sum Of s164. .932.22S.
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
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,OOO in the total holdings
available for the fiscal operations of
the government there were a gain of
upward of SIG, 600, 900 in free gold,
coupled with an increase of nearly -$23,-
00000 in absolutely secured deposits
with banks, and these changes were ef-
fected at no greater cost than the loss
Of so much in silver and treasury notes.
AVAILABLE ASSETS.
The total available assets were sS74,-
| 764,9T7 on June 30, 1897. and $685.. sos. 1856
| a year later. By the addition of the un-
/ available assets carried by the depart
ment these totals are. Swelled to 1904
/ All. .776 and SS49, ,202. .941 respectively. On
June 80, 1898, the treasurer's liability to
! the general treasury fund was s575. 751.
| 368, with one OF $66, ,465, $50 sustained in
his capacity as the depository Of pub
| lie officers, and one of 413 for
moneys paid into his hands, but not yet
| covered by warrant into the general
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 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 $40 and under. which de-
| creased in volume by S11, ,522, 157 from
! Sept 30, 1885, to the same date in 1897,
| increased by S41 ,057 in the Il months
| ending Sept. 80. 1898. The gold in cir
cuIation rose steadily by $40, ,327 ,263 in
the former of the two periods, and by
/ s94, SOL ,059 in the latter. The total cur
rency of all kinds in circulation shows
! an increase of $96, ,539. .249 in the former
year. and one of $751; 1884 in the lat
ter. a gain of S234, ,294, ,103 for the two
years.
NATIONAL BANK STATISTICS.
.rIn answer to inquiries from the west
and northwest the treasurer has pre-
pared table which shows the amount
l-of the capital, surplus, undivided pro-
fits 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 years. The agSre-
gates for the three periods are sue
cessively $923,979 TAG, s91S, ,252,479 and
! s9S7. $40 les. While these figures do not
show the resources of this sort in their
/ completeness, they furnish irresistible
proof of the strength which this i'm
mense region has gathered in the IN
struments of commerce.
/ In a chapter in which the treasurer
reviews the history of the net gold bal
! ance in the treasury, he says that prior
| to Sept. 1, 1898, the highest point which
this balance had ever attained was
! S219, ,O59 .232. on April 8, 1888. On June 8,
1898, the amount was SS9,5S9364, the
lowest in Is years, or from June. 1913.
BY. the exchange of notes for gold with
the banks, the net gold balance was
| brought UP to S103, ,S63, ,290 by Aug. 10,
1898. Another minimum mark was
reached Feb. 1, 1894, at $50, 43S,37S. by
the proceeds of a sale of bonds amount
ing to s5S, sc. .917. the net gold balance
was increased to $107. .446S02 by March
6. Under reaction, however, 1t again
fell to S54. .975, ,607 by the end Of July,
1894. Another sale of bonds in Novem-
Der and December of that year brought
in $5S, ,719 71O, and the gold balance on
Dec. 4, 1894. was again Sill, ,l42,Ozl Ine
remedy was effectual for only brief
period. for on Feb II. 1895, the treas
ury held only S41,340,1S1 in free gold.
Again bonds were sold, for which pay
ments aggregating $65, ,42S, ,056 were re-
ceived from February to June Thus
the net gold balance was carried up to
$1O7, ,591. .230 by July s. 1885, Once more
the relief was but temporary and py
Feb. &. 1896. the gold balance had fall
len to S44.563. .495 For the fourth time
resort was had to a sale of bonds which