Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1899-11-11
TREASURER ROBERTS
Presents a Cheerful Report to the
Secretary Of the Treasury.
USE OF GOLD COIN.

Tho Effect OF the Now Revenue LAWS
Snys the Report, Is shown In In
creased Receipts Over tho Previous
q CIR of 500, oS0, o3O.
Washington. Nov 6.-Hon. Ellis H:
Roberts, the treasurer OF the United
States. in his annual report to Secre-
tary Gage. sums up the operations OF
the last fiscal year by saying that "a
notable activity was exhibited In all
kinds of currency with marked In
crease 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 de-
| mands Of daily business IN its several
offices
1.-THE effect of the new revenue laws
is shown in the receipts for the year,
in which there was an increase over
| 1898 of $56553.419 from customs and
of s102, 536.5 from internal revenue
The collections of internal revenue
were larger than those for any pre-
vious year with the exception OF 1866.
and the total ordinary receipts. which
amounted to $515 9G0. $40 were also
| the largest on record. with the same
exception The net ordinary eXpendi-
lures were little over SG05, 900, 900, an
amount exceeded only twice-in 1868
and 1864. There was a deficiency Of
SIS, III, $50 In the ordinary revenues.
Inclusive OF loans and the issue OF
notes and certificates the total receipts
on all accounts. by warrants. were ST.
| Q:S. A51. $40 and the total disbursements
s94s. ODD l49
With the addition OF the proceeds Of
| THO nsw ) per cent. loan TO the ordi-
Nary revenues. there WAS fiscal sur
plus OF 500. 7sl 52l for the year. The
receipts frcn the loan represented
every part OF the country. OF the total
of nearly 5000, Goa, 600. upwards of $685.
100000 came to the office In Washing
ton in the form OF checks on banks in
every part OF tho country. Nearly S29,-
00o, GOO WAS paid in gold. upwards OF
1925, 000. 600 in United States notes and
the rest in other kinds of money.
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
financial system of the country. The
change was no less marked in the ag-
gregate OF available resources than in
their character. fer 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 increased the use of gold in the dis.
bursements.
"At the close of the year the treas
urer was accountable for s947.746,3 1894,
against which he held s9l7.S73 .925 in
cash and credits. the difference con-
sisting of funds classed as unavailable.
There were in circulation June 80.
1898. s2S6, 572, 329 in United States notes
$gS, G65, $50 In treasury notes, 1890 659.-
I OS0 in silver certificates and 1929, 1923,
7O9 In national bank notes. On June 30,
1898, the amounts were: United states
notes, 1910 ,547 $40; treasury notes. 1922
COS, 1872; silver certificates. S401 ,S69, 343;
national bank notes. s237S32,594. The
paper in circulation was thus increased
during the year by s4S.S2S,3S6.