Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1899-11-15
REPORT OF ROBERTS.
United States Treasurer Tells of the
Nations Finances.
Effect Of the New Revenue Law on
Recefpts-N1arked Gain in Circula-
ton of Gold Coin and Stand
ard Silver Dollars.

Erect OF the Ne" ftcVeHue LII" Oh
Receipts-NIarked Gain in Circula-
ton Of Gold Coin and Stand
ard Silver Dollars.
Washington, Nov. 6.-~fIon. Ellis H. Rob-
erts, the treasurer of the United States, in
his annual report to Secretary Gage sums
up the operations Of the last fiscal year
by saying that "a notable activity was ex-
hibited in all kinds of currency, with a
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 in its several Offices
The Revenues.
He says: The effect of the new revenue
law is shown in the receipts for the year,
in which there was an increase over 1898
of $56, 5o3,4l9 from customs and $1O2, $50, 500
from Internal revenue. The collections of
internal revenue were larger than those
for any previous year, with the exception
only of 1866 and the total ordinary re-
ceipts. which amounted to s5l596O, C2O, We're
also the largest on record, with the same
exception. The net ordinary expenditures
were little over 6O5O00,0NO an amount ex-
ceeded only tWice-in 1868 and 1894 There
was deficiency of $S9, I'LL, $50 in the ordinary
revenues.
Inclusive Of loans and the issue of notes
and certificates the total receipts on all
accounts, by warrants, were 81 O3S, 451 $40
and the total disbursements $946, 222, 14S.
With the addition Of the proceeds of the
new three per cent. loan to the ordinary
revenues there was fiscal surplus Of $780,
Isl, 52l for the year. The receipts from the
loan represented every part of the country.
or the total of nearly $500, 000,O 900, upwards
of $12ooGo,0o0 came to the office in WASH
ington in the form of checks on banks in
every part Of the country. Nearly $780,
100000 was paid in gold, upward of 81, 0OO,-
600 in United States notes and the rest in
other kinds of money.
Our Paper Money.
There were in circulation June 80 1898,
1923 in Cuited States notes. S9S, $685. $50
in treasury notes, $500, $3.50 ESQ in silver GER
tificates and $223,1297 03 in national bank
notes. On June 80, 1899, the amounts were:
United States notes, $685. ,349; treasury
notes, $92, Co., 1872; silver certificates s4O1-
S69,343 and national bank notes, s237 s32-
594 The paper in circulation was thus in
creased during the year by 2S,3SG AS a.
result of these changes the treasury hold
lngs of government pa per fell, between the
two dates, in United States notes from $751;
o63, eH to ST., in treasury notes from
$2,541, 100 to $912, ass and in silver certificates
from $7,S97424 to $4,2161C1. By continuance
or the process Of retiring trea sury notes of
1890, redeemed in standard silver dollars,
the amount Of the notes outstanding was
reduced during the year from SOL POI, $50 to
$50, 5lS. $50.
Gold Circulation.
The gold coin in circulation, all in these
denominations, steadily increased from
$47S I'll AGO. September 80, 1885, to seas 361, 1s5
on the same date in 1899. In the small notes
there was shrinkage of $11, 522lJ7 from
1896 to 1887, but in the next year there was
an increase of SILL e57,o37, and from 1898 to
1899 ho ror NV
Ing that year the increase of these denomi-
nations of both gold and paper was $751;
50,7S9. The total addition to the paper cir
culation in the same period was $1Ol, S39, GAL,
of which $43,174,225 was in the larger de-
nominations. The addition to the gold in
circulation during the year was $23, 1878.
and this, added to the increase of the paper
outstanding, makes total increase of $685.
Oh.
Silver Circulation Increases.
In the fiscal year 1898 the ten treasury Of
fees paid out $40, S32,149 in standard silver
dollars, and in 1899 SAP 532, 1885, an increase of
$1,7OOlH. At the same time the receipts
of standard dollars were s54,o07 ,s34 in 1898
and $37, 5S1 ,O4O in 1899, decrease Of S1G 49,
s94 These changes indicate growing cir
culation of these coins. Previous to this
year the maximum of silver dollars in cir
culation at the close Of any month was
reached in December, 1850, a. the result of
the record was s67, .O23.
Shows Healthy Increase
In the fiscal year 1898 gold coin was taken
for 1908 per cent. of the receipts from Gus
toms, amounting to SPOTS, 1885, S7, and given
for H. per cent. of the disbursements.
amounting to $2,195,97 3,O13 In 1899 the re-
ceipts of 1888, TAI showed BIG per cent
and the disbursements of $2,371, 1929
showed 1887 per cent. in gold coin. For the
quarter ending September 30 gold formed
3S.5 per cent. of the receipts and 1872 per
cent. of the disbursements. For q years
there has been a natural and healthy in
crease of gold in circulation. " lille disburse-
ments of gold have been so heavy the hold
ings CT the treasury in coin and bullion
have surpassed all previous records, both
| in gross amount and in net excess over out
standing certificates. The former gross
maximum is found in September 1883, at
1882, ISL, BOG, and the net maximum before
| 1898, was $2lS, ,253, in March of the same
year. On June 90, 1898, the gross gold in
the treasury was s202, S25, 049, and the net
$751;, 004 40. These figures rose to 1858 co., $50
gross and S2o4, ,S21 net, September 30,
1899. These statistics make plain a tendency
to an increase in the use of coin of all kinds
On October l, 1899, the estimated amount
of gold in circulation was SO IS per cent of
all the currency, and the gold in the treas
ury was Goa per cent of the United States
notes and treasury notes outstanding.
Issue Of Gold Certificates.
On August 7, 1899, was resumed the issue
of gold certificates after an almost unin-
terrupted suspension from April 1893,
during which the amount in circulation was
| reduced to $32, 5S7, $40 By the end of Octo-
Der this amount had been increased to S127,-
593,519. Within this period the treas ury
paid out S156,052, $40 of the certificates of
| which $50, 063, 220 were for gold coin and ST.
| ,420 were in current disbursements, while
$62, $50 were returned to the treasury in
the receipts. The rapidity Of the outgo is
| notable, as we'll as the proportion of the
denominations under $1,000.
| AS relief to the money market the pay
| ment of the interest due on November /,
| amounting to s4,363,244, was anticipated.
The coupons were received on and after the
18th and the checks for registered interest
were mailed on the 23d and 25th
The number Of one and five-cent counter
| feits detected at the offices of the treas
ury during the year was S9,92S. all but 2,S27
Cf io1 Low S1o