The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-11-07
y. :. Treasurer Roberts Made
His Annual Report.
AN INCREASE IN THE REVENUES.
The New Three Per Cent Loan Also Put
the Treasury Into Splendid Shape.
More silver Dollars In Circulation.
Some other Points.

fiscal year by saying that "a notable
activity was exhibited in all kinds of
currency. with marked increase in the
use of gold coin and in less degree of
silver coin. while the prosperity of the
country has at no time left any part Of
the government notes in the treasury
above the demands of daily business i'll
its several Offices"
He said in part: 1.-THE effect of the
new revenue laws is shown in the re-
ceipts for the year, in which there was
an increase over 1898 of $56. .553, ,4l9
from customs and of $102, ,536. $50 from
internal reuenue. The collections OF
internal revenue were larger than those
TO any previous year with the excep.
ton only of 1865, and the total ordinary
receipts, which amounted to $5l6,960,-
620, were also the largest ON record,
with the same exception. The net
ordinary expenditures were little over
$605, 900, 900, an amount exceeded only
twice-in 1868 and 1864. There was
deficiency of $50, iii ,559 in the ordin.
ary revenues.
"Inclusive of loans and the issue of
notes and certificates the total receipts
on all accounts, by warrants, were ST.
OBS, ,451, $40 and the total disbursements
$946, 1922, l4S. With the addition of the
proceeds of the new 3 per cent loan to
the ordinary revenues there was a fiscal
surplus of 500, 791, ,521 for the year.
"By the improved revenues and the
new loan the treasury, Notwithstanding
the heavy war expenditures, was
placed in the Independent position so
necessary to the soundness of the finan-
oial system of the country. The change
was no less marked in the aggregate of
available resources than in their char.
acter, for the gain in the total holdings
was almost entirely in gold, and the
treasury not only refused tenders of
gold in exchange for paper, but in
creased the use of gold in the disburse-
ments.
"At the close of the year the treasurer
was accountable for $947, FAC, 1894, against
which he held $9l7, 1878, ,925 in cash and
credits, the difference consisting of
funds classed as unavailable. Aside
from the issue Of the per cent bonds,
the most important event affecting the
public debt was the falling due, on Jan.
l last, OF the last of the bonds issued for
the construction of the Pacific railroads.
OF these, 1870, 900 We're presented and
paid, leaving $4,000 of the loan out
standing, all past due and bearing no
| interest.
"Ihere were in circulation June 80,
1898, 1886, ,572, ,329 in United States notes,
| sos, 500, $50 in treasury notes. $500, ,659,-
$50 in silver certificates and 1928, 129, 7O3
| in national bank notes. On June 80,
| 1899, the amounts were: United States
notes, $3l0, ,54T ,349; treasury notes, $92,.
500, ,792; silver certificates, $40l, 1863, ,343,
and national bank notes, $237, 1872, ,594.
| The paper in circulation was thus in.
creased during the year by $43, 1925, 1856.
AS q result OF these changes the treas
ury holdings of government paper fell,
| between the two dates, in United States
notes from $34, ,063, ,687 to $15, 1878, ,667, in
treasury notes from $2,251, 700 to $9l2,
488, and in silver certificates from ST.
1897, ,424 to A,2l6,16
"The gold coin in circulation, all in
these denominations, steadily increased
from $478,77l 400 Sept. 30, 1896, to
| $646, sci lS5 on the same date in 1899.
In the small notes there was q shrink
age of $ll ,522, l57 from 1896 to 1897, but
in the next year there was an increase
Of $41 ,657, ,037, and from 1898 to 1899 the
amount ran up to sos, 8,665,4l6
'In the fiscal year 1898 the ten treas.
ury officers paid out $50, 1882, l49 in stand
ard silver dollars, and in 1899 $42, 49,
296, an increase Of $l,700, LAT.
sat the same time the receipts of
standard dollars were $54, ,007, ,934 in 1898
and $37 1881, ,040 in 1899, decrease of
SIG, ,426,S9 These changes indicate
| growing circulation of these coins. Pre-.
vious to this year the maximum of sill.
| yer dollars IN circulation at the close of
any month was reached in December,
1890, as the result or urgent efforts to
promote their use, when the record was
S67, ,547, ,023.
"The increase in the receipts of gold
from customs was not exceptional, for
like growth has taken place in all gov
ernment transactions. In 1899 the re,
ceipts OF ", 1893, l99, ,747 showed 1915 per
cent, and the disbursements of $2,37l,.
283,629 showed 35.37 per cent in gold
coin. For the quarter ending Sept 30
| gold formed 38.0 per cent of the re-.
ceipts and S5.2 per cent of the disburse.
ments. For 81 years there has been
natural and healthy increase Of gold in
circulation.
while disbursements of gold have
been 80 heavy, the holdings of the
| treasury in coin and bullion have sur
passed all previous records, both in
gross amount and in net excess over
outstanding certificates.
| 'Ou june oU, 1910, Une gross gold III
the treasury was S202, 1895, ,049 and the
net $l67, ,004,4l0. These figures rose to
1858, ,O02, $50 gross and $254, 1928, ,82l net,
Sept. 30, 1899. These statistics make
plain tendency to an increase in the
use Of the coin or all kinds. On Oct. /,
1899, the estimated amount of gold in
circulation was 33. l8 per cent of all the
currency, and the gold in the treasury
was 60. "A per cent of the United States
notes and treasury notes outstanding,
"These resources, the treasurer sug.
| gests, would make it easy to establish a
permanent and adequate gold reserve.
He points out that while the reserve of
500, 100000 several times has been
trenched upon under pressure of neces-
sity, the trust funds set apart for spe.
citic object, as the gold pledged for gold
certificates and the standard dollars for
silver certificates, have always been kept
intact. A fund of $3.50, ,000,0 900 devoted
by law to the purpose, with provision
that the notes once redeemed in gold
should not be- paid out again except for
Il