The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-11-04
Twice as Great in 1898 as Ii
Was in 1897.
TREASURES REPORT
Shows S65,OOO,OOO Loaned to
National Banks.
Money in Circulation Shows
Big Increase in Two Years.

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 or
binary revenues of the government. were
s4o5, 321. 1876, an increase of $57, 597, $50
over those of the previous year, while
the net ordinary expenses were $443'-
3eS. $50. an increase of $77,794, 423. The
resulting deficiency of $3S,047,247 ex-
ceeds that Of the preceding year by
IN the receipts are included $64,751,223
paid into the treasury on account OF the the
sale of the Union Pacific ana Kansas
Pacific railroads. Out of them were
paid SIS. $50 952 of the bonds issued TOT
the construction of the Pacihc railways
which went to increase the expenol-
lures.
Up to the close of the fiscal year the
increase of the expenditures on account
of the war with Spain was $43,O4I, ~
for the war department and 24,262, 43S
for the navy department. For the IouI
months Of July, August, September anu
| October 1898, the expenditures OF the
war department were $lOI, 5ZO,3bS, DelhS
| s91 613l31 greater than for the same
months in 1897. For the same months
this year the navy department expehd-
ed S27 ASS, ST. which was SIG, Ola, O26 more
than it spent in the like period in 1891.
Up to October 81 the war with Spain
added to the disbursements of these Two
departments the sum of 1854, 932,Z2S-
| independently of the prospect of reVe-
nue. or expenditure the treasurer re-
! CARDS the treasury as having peen
stronger at the close than at the open
ing of the fiscal year, the insignificant
! shrinkage in the amount of the assets
has been more than compensated Tor
in the Improvement which took place IN
| its character. Against a net loss or
/ 81. 500 900 in the total holdings aVallaple
for the fiscal operations of the govern
ment there was a gain OF upwards Oh
S26 600. 900 in free gold. coupled with an
| ly secured deposits with banks, ana
| these changes were effected at no great
er cost than the loss of so much In Sill
| yer and treasury notes.
The total available assets were $S74,-
S64, 377 on June 80, 1897 and 1888, 6O6,f3o
! a year later. BY the addition of the I'M
| available assets carried by the depart
ment those totals are swelled to $9O4,-
/ All 776 and $S49. POP, 941, respectively. ON
June 80, 1899, the treasurer's LIABILITY TO
the general treasury fund was 1913, 1oi,-
1858. with one of $66, 465, 100 sustained IN
his capacity as the depository of public
officers, and one of SIG, $50, Alb for moneys
paid into his hands, but not yet covered
bv 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 fOrethought and care, during tine
past fiscal year and the autumn follow
ing it, an adequate stock of notes OF
different denominations was provided
and the exchange u SAAldAA AAONOS ~
! large ones was readily made.
| The outstanding notes of the denoIn-
| nations of 800 and under, which de-
creased in volume by $11, 522,l5 from
| Senfenber 80, 1896, to the same date in
1897 increased by Sal, 657,037 in the
twelve months ending September ~,
1875 The gold in circulation rose
steadily by sac, 327, 263, In the former of
the two periods and by $94, SOL. O59 IN the
latter. The total currency Of all kinds
in circulation shows an increase OF
SOC 539 249 in the former year and one OF
S137 1856 S54 in the latter, a gain or Sz54,-
294. 1G3 for the two years
In answer to inquiries from the west
and northwest the treasurer has pre-
Dared a 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 years. The aggregate for the
three periods are successfully $SZ3,9f9,-
TAG 1913 252. 479 and 1887 $40, 1856 Whlle
these figures do not show the resources
of this sort in the completeness, they
furnish irresistible evidence of the
strength Of which this immense region
has gathered in the instruments OF
In chapter in which the treasurer
reviews the history of the net gold pal
ance in the country, he says that prior
to September I, 1898, the highest point
which this balance has ever attained
was S219, O59, 232, on April 3, 1888 On
June g. 1893, the amount was SSS, 5SS, 364,
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 SOB, 2O9 by
| August 10, 1898. Another minimum
mark was reached February 1, 1894, at
! S65. ABS. 1878. By the proceeds of a sale of
| bonds amounting to $5S,6609 17, the net
/ gold balance was increased to $107, 446,
! 500 by March 6. Under reaction, how
| ever, it again fell to $54975, 6O7 by the
| end of July, 1894 Another sale OF
| bonds in November and December of
] that year brought in $5S, 719, 40. and the
! gold balance on December A. 1894, was
! again Sill 142, 021. The remedy was ef-
| fectual for only a brief period, for on
| February II, 1895, the treasury held on
| " S41, $40 1S1 in free gold. Again bonds
/ were sold, for which payments aggre-
! eating S65, AIS. O56 were received from
| balance was carried up to S107, 591. 230
/ by June s, 1895. Once more the relief
| 1896. the gold balance had fallen to $44,
| 563, 493. For the fourth time, resort was
| had to a sale of bonds which produced
| up to June. Sill, 966, 612 and brought the
/ gold balance up to a maximum of SIPS
/ 713. 700 from which point it sank again
by July %, 1896, to $50, 669 975. Since
/ that month the reserve Of 500, 900, 600
| has not been trenched upon.
| With some fluctuations, the tendency
! of the gold balances has been steadily
| upward. The sources Of supply have
! states, Alaska and Australia with i'm
| portations from Europe, the customs
| and the boards of the bank. Until the
! beginning of the calendar year, 1898, the
| receipts of gold at the New York Gus
| toms house were a negative quantity
| but in March they rose to 17.6 per cent
| of the whole in April to 52.7 per cent
! and after some fluctuations reached Is
| per cent in September and 1915 in Octo-
| Der. The tenders of gold from banks
| and individuals in exchange for paper
have been greater than the resources
of the treasury have enabled it to ac-
| cept.