The Providence news. (Providence [R.I.]) 1891-1906, 1899-11-06
Largest In the History Of The Country With
The Exception Of the Year 1866.
FISCAL SURPLUS OF SlOO,791,521.
Eonds issued for The Construction Of The Pacific
RalnOld 10 the Amount OF SI3,970O00
Paid increase In Paper Circulation.

Washington. Nov. 6.-Hon. Ellis IL.
Roberts treasurer of the United
States. in his annual report 10 SecrA-
tary Gage, sums up the operations OF
the last fiscal year by saving that
"a notable activity was exhibited in
all kinds of currency. with "a marked
Increase in the United States Of gold
coin. and in a less degree OF silver coin.
while the prosperity of the country has
at no time left any part OF the govern
ment notes I'm the treasury above the
demands of daily business In ITS sew
eral Offices" He continues:
The effect Of the new revenue laws
is shown in the receipts OF the year, I'm
which there was an increase over 1898
of $56.553.4l9 from customs and of slO2.-
536.520 from internal revenue. The coll
lections of internal revenue were larg
er than those for amy previous year.
with the exception only OF 1856. and the
total ordinary receipts, which amount
cd TO S5l5, 300, 620. We're a!rO the largest
ON record. with the same exception.
The net ordinary expenditures were a
little over $605 600 900. an amount ex
ceeded only twiCe-in 1863 and 1864.
There was a deficiency of $50, Ill 1853 in
the ordinary revenues.
Inclusive Of loans and the issue Of
notes and certificates. the total receipts
from all accounts by warrants were
81 .03S. 45l.340. and the total disburse-
menits S946. 222. 14S. With the addition
OF the proceeds OF the new 3 per cent.
loan to the ordinary revenues there
was a fiscal surplus OF 800, 1881 for
the year. The receipts from the loan
represented every part of The country
OF the total of nearly 5000 900, up
wards of SIPS 600. 600 came to the office
In Washington i'm the form of checks
on banks i'm every part OF the country.
Nearly $29. 900 900 was paid in gold. up
wards Of S25000.0 900 In United States
notes. and the rest In other kinds OF
money.
by the improved revenues and the
new loan. the treasury. nctwithstand-
ing the heavy war expenditures. was
u~lced in the independent position 50
necessary TO the soundness OF the 4
nancial system of the country
AT the close of the year ithe treas
urer was accountable for $gi17i6,3si.
against which he held S9lT.S73.925 in
cash and credit. the difference consist
ing Of funds Chassed as unavailable.
Aside from the issue OF the ? per cent.
bonds. the most important event af-
fecting the public debt was the falling
due IN January l OF the last of the
bonds issued for the construction of
the Pacific railroads. OF these 1890
o00 We're presented and paid. leaving
$4,000 of the loan outstanding. all past
due and bearing no interest.
There were I'm circulation June 30.
1898 1886 572.329 in United States notes.
SOS. b65 ESQ in treasury notes. $500 $50 OS0
i'm silver certificates and 1928 l2g, 70S In
national bank notes. On June 30. 1892,
the amounts We're: United States notes.
S3t0.J47. .349. treasury notes S92 COS, 792;
silver certificates. S40l $50 .343 and ma
tional bank notes S237 So. 59i The pa
per i'm circulation was thus increased
during the year bv E&S2S.3s6 AS a re-
suit of these changes. the treasury
holdings OF government paper fell. be-
tween the two dates IN United States
notes from s34. .063 6s7 to S15272661: in
treasury notes from S2.541, 200 to S9l2.
4S6. and i'm silver certificates from So
S95.424 20 A.2l6.16l
by continuance Of the process of re-
firing treasury notes of 1890 redeemed
I'm standard silver dellars. the amount
of those notes outstanding was reduced
during the wear from S10l. 207. $50 70
s93.5ls2S0. The highest amount out
standing at the close Of any month
was s15S 453 600 I'm November. 1893 As
the silver dollars paid out for these
=stttes- either remained i'm circulation or
became the be- SIS far the issue Of silver
certificates the process involves no
cortractlon of the currency. but only
n change Of form The reduction of the
tr--ri of tho pq0cr hcfd-h---+'-r- freas-
urv from sif 502 731 10 500. .i07.Sl6 was
caused bv the pavp1ent Ne government
cbliga tiors to Duhlic creditors ard nv
the rcceipt Of revenues I'm growing
measure IN gold coin l."