The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-11-04
REPORT OF THE TREASURER
GOLD POURING IN FROM ALL
SOURCES.
War Only Serves to Increase the Ma
tional Stock-Figures Of In
terest to the Whole
Country.
Special Dispatch to The Call.

Roberts, has submitted to the Secretary
of the Treasury his annual report on
the transactions and condition Of the
treasury for the past fiscal year. The
net ordinary revenues Of the Govern
ment were $405, 321, 1886, an increase of
$57 ,597 $50 over those of the previous
year, while the net ordinary expenses
were SAB, 1868 5S2, an increase of $77,594,-
423 The resulting deficiency of $685.
047, PAT exceeds that of the preceding
year by s19,994, 1893.
In the receipts are included s64, 751,-
223 paid into the treasury on account Of
the sale of the Union Pacific and Kan
sas Pacific railroads. Out Of them were
paid $29, $50, 1862 of the bonds issued for
the construction of the Pacific rail-
roads, which went to increase the ex-
penditures.
Up to the close Of the fiscal year the
increase of the expenditures on account
of the war with Spain was $43, 041, 1872 for
the War Department and 1852, 43S for
the Navy Department. For the four
months of July, August, September and
October, 1898, the expenditures of the
War Department were $107 $50, 1868, be-
ing $81, 613, 131 greater than for the same
months in 1897. For the same months
this year the Navy Department ex-
pended $27, 45s, ST., which was $16.014, ops
more than it 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 of $164,-
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
in the amount of the assets
having been more than compensated
for in thes Improvement which took
place in this character. Against net
loss of $500, 900 in the total holdings
available for the fiscal operations OF the
Government there was a gam OF up
ward of $26. 900, 900 in free gold, coupled
with an increase of nearly $4,000, 600
in absolutely secured deposits with
banks. and these changes We're effected
at no greater cost than the loss of so
much in silver and treasury notes.
The total available assets were
Ss74 764.377 on June 80, 1897 and $685.
606. 796 a year later. BY the addition of
the unavailable assets carried by the
department these totals are swelled TO
1904 All, 776 and SS49, 202,941 respectively.
on June 80, 1898, the Treasurer's la
bility to the general treasury fund was
1878 Isl. 1868. with one of $66, 465, 100 sus-
tanned in his capacity as the depositary
of public officers, and one of 1886, 4l3
for moneys paid into his hand, but not
vet covered by warrant into the general
account.
The outstanding notes Of the denomi-
nations of $40 and under, which de-
creased in volume by $11,522,157 from
September 80, 1896, to the same date IN
1887, increased by $41, 657,03 in the
twelve months ending September 81,
1898. The gold in circulation rose stead
lily by .$49, 1927 1868 in the former OF the
two periods and by $94, SOL, Coy In the
latter. The total currency OF all kinds
in circulation shows an increase OF SSo,-
539. 249 in the former year, and one OF
$137, us, S54 in the latter, gain OF $z54'-
294 103 for the two years.
In answer to inquiries from the West
and Northwest the Treasurer has pre-
pared 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 three last years. The aggregates
for the three periods are successfully
1928, 979 746, 1918, 1852, 479, and 1887, $40, 1885,
While these figures do not show the re-
sources of this sort in their complete
ness, they furnish irresistible proof OF
the strength which this immense region
has gathered in the instruments OF
commerce.
In a chapter in which the Treasurer
reviews the history of the net gold ball
ance in the country he says that prior
to September /, 1898, the highest point
which this balance had ever attained
was $219, 059, 232, on April 3, 1898. On
June 6, 1898, the amount was S89, 5S9, 1854,
the lowest in fifteen years, or since
June, 1878. BY the exchange of notes
Of gold with the banks the net gold
balance was brought up to $103, 1863, 290
mark was reached February 1, 1894, at
$50, 43S,37S. By the proceeds of sale
of bonds amounting to sos, 660,917 the
net gold balance was increased to $107,-
446,802 by March 6. Under reaction,
however, 1t again fell to $54, 975,607 by
the end of July, 1894. Another sale of
bonds in November and December of
that year brought in $5S, 719, no, and the
gold balance on December 4, 1894, was
again $111, 142, 021. The remedy was eff
fectual for only brief period, for on
February II, 1895, the treasury held
only $41, $40, 181 in free gold. Again
bonds were sold, for which payments
aggregating $65, 42S, O56 were received
from February to June. Thus the net
gold balance was carried up to $107 ,591, =
230 by July 8, 1895.
Once more the relief was but tempo
rary, and by February 8, 1896, the gold
balance had fallen to $44, 1868, 493. For
the fourth time resort was had to a
sale of bonds, which produced, up to
June, Sill, 355,612 and brought the gold
balance up to a maximum of $12S, 49,
700, from which point it sank again by
July %, 1896, to S9,669.975. Since that
month the reserve of 500, 600, 900 has not
been trenched upon. With some fluc-
tuations 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
Australia with importations from Eu-
rope the customs and the boards of the
banks. Until the beginning of the cal
endar year 1898 the receipts of gold at
the New York Custom-house were a
negligible quantity, but in March they
rose to 17.6 per cent of the whole, in
April TO 527 per cent and after some
fluctuations reached rs per cent in Sep
TENDER and 1916 in October. The tend
ers of gold from banks and individuals
in exchange for paper have been greater
than the resources of the Treasury
have enabled it to accept.
Large Starch Works Consumed.
NEW YORK, Nov. 3-The works of the