The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1899-12-16
SECRETARY CAGES
ANNUAL REPORT
Transactions Of the Fiscal Year Of
Unusual Magnitude and
s5 Importance.
SURPASSED ONLY IN THE SOS
Revenues and Expenditures FOR
1900 aud 1000, aud Estimated
for 10O1-National Banks
%-Monetary Reform.

The annual report of the secretary
81 the treasury, Lyman J. Gage,
shows that the of the gov
eminent from all sources for the tis-
cal year, ended June 30, 1899, were
$610,9s2 ,004. The internal revenue
yielded $273,457,16 customs, 5000
12s,4s1. The profits on coinage, bull
ion deposits, etc., were $4,0l6,535; tax
on national banks, S1,912,41l; sales of
public lands, S1,6Ts.246; sales of In
dian lands, $~1,i7G,.f5; tax on seal
skins and rent of seal islands, $1,116,-
Oil. The receipts from the postal SER
vice We're S95,O21 1864.
The expenditures were $780, o3, 564.
The civil establishment expenses were
$90,979,6s5; military establishment,
$229,S41, 1854; naval establishment, $63,-
942,104; pensions, S139, 1914, 1920; inter-
est on public debt, 80, 1896, 295; postal
service, sos, 232, 954.
The deficit vas $9s, I'll, $50.
III addition to the revenues collected
the cash in the treasury was increased
s204, oo5 ,514-by the sale of 3 per sent
bonds, $19S, 67a,720; and from national
bank funds deposited in excess OF
bank notes redeemed, $5,324,23
Tbs securities redeemed on account
of the sinking fund amounted to $31,-
273.
AS compared with the fiscal year of
1898, the receipts of 1899 increased
$116,64s,050, the principal items being
Internal revenue S102, $40, $50, customs
$56,553,419 and postal service $6,00s,-
765. There was a net increase of $l61,-
To3,579-that in the civil establishment
being S22,6T0, $50, war establishment
S137, S4o,254, the naval establishment
S5,11s,l20, Indian service $1,s11,043, in
%terest Oh public debt $2,311,S6s. There
was n decrease of $S,05T,439 on account
of pensions.
Revenues for 1OOO-1OO1.
The revenues of the government for
the current fiscal year are estimated
upon the basis of existing laws to be
$640,95s,112, and the expenditures
5000, 95s,112-a surplus of $40, 10000.
The for 1901 are $667, 49,
$50, and the estimated appropriations
required exclusive of sinking fund are
$685. ,s53,44S-an estimated deficit of
$1S,0sO, 1914.
1t is believed. however, that CON
gress will be able to reduce the esti-
mate to such a point as will bring the
expenditures within the estimated rev.
enues and leave a fair and substantial
margin for surplus.
The transactions of the fiscal year
were of unusual magnitude, the net
ordinary receipts having been ex-
ceeded in any like period but once, in
1863, 1864 and 1865. Inclusive of the
amounts involved in the issue and re-
demption of bonds, notes and %certiti-
Gates, the gross receipts were s1,O3S,-
451,34o. and the gross expenditures
$946, 1929, las. There was, in conse-
quence, an addition of 500, 229,101 to
the general treasury balance, which
increased from $T75.T51,36S to- $780,
9S0,5 These operations were con
Quoted through the offices of the treas
ury numbering ten, those of the mint,
increased during the year from eleven
to twelve, and the depository banks, of
which there were 172 at the beginning
of the year and 357 at the close. The
aggregate of money handled by the
treasury Offices alone was S 2,393, $780,
TAT i'll the receipts, and So, ,2S3, 629 in
the disbursements.
While there was n deficiency of $780,
111,55s in the ordinary revenues, the
excess of receipts over disbursements
| VII uSSotAAp vi a. va SutllClClllLlo
realize q net surplus of 500, 791, 521, as
the result of the fiscal operations of
the year. This substantial addition to
the available together with
the steady advance of the receipts
from taxation to an actual excess over
current needs, has relieved the treas
ury of all danger of difficulty from
sudden emergency. Nor was the
growth of the available cash balance,
which stood at $2s4,4sS, SIG at the close
of the year, more wholesome than the
improvement of the character of the
assets which We're converted into gold
as fur as statutory and other limita-
tons would permit.
Changes In the Stock of Mnney.
Important changes took place dur
ing the year in the composition and
distribution of the stock of money.
The amount of notes and silver %certitl-
Gates in circulation was increased bv
$43,s2s,3S6, reducing the paper hold
ings of the treasury to the minimum
required for the transaction of bust
ness. The outstanding treasury notes
of 1880 were cut down, by cancellation
or redemption i'll silver dollars from
SOL, 2O7. $50 to 500. 51S,2sO. This pro-
cess, however, did not involve a con
traction of the currency, since the
coins paid out for the notes either re-
manned in circulation or We're rede-
posted in the. treasury for silver GER
tificates.
In consequence of these operations
and the increased use of gold there
was n noteworthy addition to the de-
nominations of $40 and underin active
circulation. In the yea end
ed September 80, last, the in
crease in the amount of paper money
of these denominations outstanding
amounted to S5s,665,416, while the in
crease of the gold coin in the hands of
the people was estimated ut 2 3.911,-