Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-11-06
NATIONS FINANCES.
Annual Report Of United States
Treasurer Roberts.
A Very Healthy State Of Our Finances
in All Particulars.
Enormous Revenue ceipts-Plenty Of Sound
Cash in Circulation.

Washington, Nov. 5.-Iion. Ellis H.
Roberts, the treasurer of the United
States, in his annual report to Sec.
Gage sums up the operations of the
last fiscal year by saying that:
"A notably 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 gov
eminent notes in the treasury, above
the demands of daily business in it's
several Offices"
He says: THE effect of the new rev.
enue laws is shown in the receipts for
the year in which there was an increase
over 1898 of $50 553,419 from customs
and of $102, 536, $50 from internal reve-
nue.. The collection of internal reve-
nue. We're larger than those for any
previous year with the exception only
of 1906 and the total ordinary receipts,
which amounted to $515, 800 $40, We're al
so the largest on record with the same
exception. The net ordinary expendi-
lures were a little over $605, 100000, an
amount exceeded only twice-in 1869
and 1864. There was a deficiency of
$S9, Ill $50 in the Urinary revenues"
Inclusive of loans and the issue of
notes and certificates the total re-
ceipts on all accounts, by warrants,
were 81 ,038, 451, $40 and the total dis
bursements s946 222 14S. With the ad-
dition of the proceeds of the new 3 per
cent. loans to the ordinary revenues.
there was a fiscal surplus of 500. 1911
521 for the year.
By the improved revenue and the new
loan the treasury, Notwithstanding the
heavy war expenditures. was placed in
the Independent position so necessary
to the soundness of the financial sys-
tenn of the country.
At the close of the year, the treasurer
was accountable for s9i7 1864, against
which he held $9l7.s73,925 in cash and
classed as unavailable Aside from the
issue of the per cent. bonds, the most
important event agecting the public debt
was the falling due. Jan. /, of the last of
the bonds issued for the construction of
the Pacific railroads.
There were in circulation, June 80 1898
$2s6 572. 1923 in United States notes, sos. 565. =
$50 in treasury notes. 1890 $50 $50 in silver
certificates and S2Z3 l29. IU3 in national
bank notes. On June 80, the amounts
were: United States notes, 1910, 5i7.3i9;
treasury notes. 1872 COS, 1872; silver certiii
Gates, si0l 1863, 3i3: national bank notes,
1927 S32, 594. The paper in circulation was
thus increased during the year by Si3,
82S,3S6 AS a result Of these changes thu
treasury holdings of government paper
fell between the two dates in United
States notes from $34, 063, 6S7 to s15. 272 G07;
in treasury notes from $2,541, 100 to 1912, =
4S6; and in silver certificates from 1887,
4A to 81, 216,167.
BY continuance of the process of retir
ing treasury notes of 1890 redeemed in
standard silver dollars. the amount of
these notes outstanding was reduced dur
ing the year from $lol ,201,2s0 to $50, SIS. $50
AS the silver dollars paid out for these
notes either remained in circulation or
became the basis for the issue of silver
certificates, the process involves no con-
traction of the currency. but only
change of form. The reduction of the
total of the paper held by the treasury
from $44 5O2 81 to $201, ,316 was caused
by the payment of government obliga-
lions to public creditors and by the re-
ceipts of revenues in growing measure in