Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1899-11-09
THE NATIONAL TREASURY.

lI1fA sAN-A1lO.N+tl4s lllN
The annual report of Ellis H. Rob
erts, treasurer of the United States as
submitted TO Secretary Gage, is of
more than ordinary interest because it
exhibits a healthful condition of ma
tional finances and shows that receipts
exceed expenditures. Treasurer Rob- |
erts sums up the operations of the last
fiscal year by saying that "a notable
activity was exhibited in all kinds of
currency, with a marked increase IN the
use 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 government notes in the treasury
above the demands of daily business in 4
its several Offices He says furtller
THE effect of the new revenue laws
is shown in the receipts for the year, in |
which there was an increase over 1898
of s5e,55s 41s from customs and s1o2.
536 $40 from internal revenue. The coll
lections of internal revenue We're larger
than those for any previous year. with
the exception only of 1866, and the total
ordinary receipts, which amounted 10
s515960, $40, We're also the largest on
record with the same execution. The
net ordinary expenditures We're a little
over S605,000,oo0, an amount exceeded
only TWEEN 1853 and 1864. There was
deficiency of sSs,ll1, $50 in the ordi-
nary revenues. He goes on to show
a surplus, however, by stating that .in-
elusive of loans and the issue of notes
and certificates. the total receipts on all.
accounts, by warrants, We're $1,03S. t5l
$40. and the total disbursements $685.
222,14s. With the addition of the pro-
ceeds Of the new 3 per cent loan to
the ordinary revenues, there was a fis-
cal surplus of s1oo,Tsl,52l for the year"
The extraordinary expenditures noted
are the results of war and could not be
avoided.
There are other features worthy of
attention. The treasurer states that
while the disbursements of gold have
been heavy, the holdings of the treas
ury of gold and bullion have surpassed
all previous records. The coin re-
make it easy to establish a permanent
and adequate gold reserve. He points
out that while the reserve Of &too 600. 600
several times has been trenched upon
under pressure of necessity, the trust
funds set apart for a specific object,
as the gold pledged for gold certificates,
and the standard dollars for silver GER
tificates, have always been kept intact.
A fund of s15O,0Oo,OO0 devoted by law to
the purpose, with the provision that the
notes once redeemed in gold should not
be paid out again, except for gold,
would be self-sustaining, and would
prove a perpetual guarantee of safety.
With reference to the appeals for
notes and certificates which the treas
already gone to the limit of its powers
Mr. Roberts points out that the ex-
listing national banks of the United
States have the right, under their char
tiers. to add ss45, o2o,4l3 to their circula-
ton. OF this s2s,lS1, $50 would go to the
city Of New York and s15,925, 700 to Chi
cago. from both of which places there
have been persistent applications 10 the
treasury for paper. In face of the as
sertion that the far western states are
suffering for want of currency, theil
own banks could issue additional notes
to the amount of s1S.2S5.245. The treas
urer offers no criticism upon the banks
but puts 1t to them whether theil