The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-11-12
A NATIONS FINANCES.
United states Treasurer Roberts Sub :
nsits His Annual Report ON the
Condition OF the Treasury.


Washington. Nov. 4.-The treasurer OF
the United States. Hon. Willis ii. Roberts.
has submitted 10 the secretary or the
treasury the annual report on the trans
actions and condition OF the treasury Tor
the past fiscal year. The net ordinary rev.
enues OF the government were SUo's-l'ss',
an increase OF Sol. $3.50 over those Of the
previous year, while the net ordinary ex-
penditures were sfi3. ScS.5S2. an Increase OF
t77,59i. s23. The resulting deficiency OF sss,-
on, ga exceeds that OF the preceding year
by SIS, 1894 1888 In the receipts are included
sGi.75i.223 paid into the treasury on ac-
count OF the Union Pacific and Kansas Pa
clfc railroads Out OF them were paid vs.
So, 952 OF the bonds issued for the corstruc-
ton OF the Pacific railroads, which went
to increase the expenditures
Up TO the close or the fiscal year the In
crease OF the expenditures on account OF
the war with Sapin was s4S.Oil,1S2 for the
war department, and so, 262, f3S for the
navy department. For the four months
OF July, August. September and October,
1898, the expenditures OF the war depart-
ment were $i07 $40, SGS, being Sl,6lS,lu
greater than for the same months IN 1877
For the same months this year the navy
department expended $27,459.S7, which was
sl60l4.9 2G more than Il spent In the like
period In 1897. Up to October 81 the war
with Spain added TO the disbursements OF
these two departments the sum or Sl64,sS2,-
22S
independently OF the prospects OF rev.
enue or expenditure the treasurer regards
the treasury as having been stronger at
the close than at the opening OF the nscal
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 81. 900 In the total holdings
available for the fiscal operations OF the
government. there was gain or upward
OF s26 900 in free gold. coupled with an
increase OF nearly 600 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.
Tho total available assets were sS7l. 76i, 81
on June 30, 1881. and $3.50, 606,736 a year
later. BY the addition OF the unavailable
assets carried by the department these
totals are swelled 10 1904, $40 and $780,
2O2.9l respectively. on June 80, 1898, the
treasurer's liability to the general treas
ury fund was S775,7 FOL $685. with one OF &c.,
lG5, 100 sustained In his capacity as the de-
posltory OF public officers, ana one or SZ6.-
9S6, 413 for moneys paid into his hands, but
not yet covered by warrant into the gem
oral account.
IL 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 forethought and care during the past
fiscal year and the autumn following IL 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 denomina-
lions OF $50 and under, which decreased IN
volume by $1,b22,1J7 from September 80,
1896 70 the same date IN 1887. increased by
s4l ,G57 ,0S7 IN the ~ months ended Stptem-
Der 80 1898 The gold IN circulation rose
steadily. by s49. 327, 2G3 IN the former OF the
two periods and by S94, 55l o59 In the latter.
The total currency OF all kinds IN circu-
lation shows an increase Of $96r6S9.d9 IN the
former year and one OF SlS7 755.sd in the
latter gain OF l,294,l0S for the two
years.
In answer 10 Inquiries from the west
and northwest the treasurer has prepared
a table which shows the amount Of the
/ capital. surplus, undivided profits and de-
posits OF the national banks In the territory
| north OF the Ohio river and west OF the
Mississippi IN July in each OF the last
4 three years The aggregates for tho three
1 periods are SUCCESSFULLY S923, 979,7i6. S9lS,-
| 252 40 ard $9S7, sac, 1GG. While these figures
! do not show the resources OF this sort In
/ their completeness, they furnish irresist-
! ible evidence OF the strength which this
| immense region has gathered In the In
! struments OF commerce.
| In a chapter IN which the treasurer re-
| views tho history OF the net gold balance
| IN the treasury, he says that prior 10 sep
tembor ]. 1895 the highest point which this
| balance had ever attained was $2l9 ,O59,2 32
| on April 3. 1883. On June 6, 1898, the amount
was $50 $50 .3CI the lowest In Is years, OF
| from June. 1878. BY the exchange OF notes
/ for gold with the banks. the net gold bal
/ ance was brought up 10 SlO3, s6S,2SO by Au'
i gust 10. 1898 Another minimum mark was
reached February /, 1894, at $G5, i2S.3IS. BS
| the proceeds OF a sale OF bonds amounting
/ to SOS, $50, 917 the net gold balance was In
/ creased TO Sl07. fi6.So2 by March 6. Under
/ reaction. however, u again fell TO s04,WO,
/ COZ by the end OF July, 1894. Another sale
/ OF bonds, In November ard December OF
! that year, brought IN SJS7l9.7lO and ths
/ gold balance on December 4. 1894, was
again Sill .142.O2l. The remedy was of'
/ fectual for only brief period. for on Feb
| ruary H. 1895. the treasury held only ST..
3i0.1S1 IN free gold. Again bonds were sold
for which payments aggregating $50, 49,,
csc were received from February 10 June
] Thus the net gold balance was carried NJ
10 $1O7 ,59l, 230 by July 8. 1895. once more tn,
relief was but temporary and by February
s, 1896. the gold balance had fallen 10 N4.
JG3, f93 For the fourth time, resort wa!
had 10 n sale OF bonds, which produced. M
20 June, Sili,S55,Gl2. and brought the COLE
| balance up to a maximum or $l2S1lS,lO9
from which point It sank again by July 70
1896 10 SS9. 6S9.65
Since that month the reserve OF ,10o, Geo.
600 has not been trenched upon. With some
fluctuations. the tendency Of the gold bal
ance has been steadily upward. Toe
sources or supply have been the mines oi
the northwestern states, Alaska and Aus
traiia, with lmportationS from Europe
the customs and the boards or the banks
Until the beginning OF the calendar yeai
1895 the receipts OF gold at the New Yorl
custom house were n negligible quantity
but In March they rose TO lie per cent. o.
the whole: In April, 70 SGT per cent, ant
after some fluctuations reached rs pei
cent. IN September and 700 In october. This
tenders or gold from banks and individuals
In exchange for paper have been greater
tran the resources OF the treasury hav,
enabled IL 10 accept.
The only change OF Importance IN IN,
public was the payment OF s29.S50952 o.
the Pacific railroad bonds. The remain
der OF this loan outstanding on June 81
was si4.l33. eco. all OF which will be payabl,
after January /, 1899
| Generous GIFT.
Washington. Nov. THE Catholi,
University OF America, through III
rector. TT. Rev. Thomas J. Conaty, ID. ID.
| WAS the reciDicnt ON Saturday NJ N eyif