New-York tribune., 1900-11-13
OPERATIONS OF TREASIRy
A SURPLUS OF s79.527.o6o IN THE LAST
FISCAL YEAR.


Of the Government for the fiscal vear -
s67 $50 the largest in the history of the coun,r
exceeding those a. l>to the next highest by S47 e1
2SS The increase of $51 ,2SO,23 over the nrecodt
year was contributed from all the general so,.,as
hut chiefly from customs and internal revenue II
expenditures there was net decrease of S17 3 2sS
in comparison with 1899, SO that the deficiency or
$50 III 56o for that year was converted into g .,,
plus Of so - no 1900 The gross receipts upde-
warrant including those account Of the public
debt. were $l.S>7 e99 2f2 and the disbursements
s1l95943+.2 large Increase on both sides over the
previous year
With the exception OF July 1899 when there was
a deficiency Of SS5o6.SS2 there was a surplus for
every month Of the year the one for Jl,ne-s17 Sa5
I5s-heing the largest. The largest receipts for a
single DAY s5l99.5l3, February &c 1900 and
largest expenditures 81 so3 O00 on July 3 1900
The largest surplus on any one day was &4o47 1856
August % and the largest deficiency S231S 621 on
July :. l>ae.
WORK OF THE NEW DIVISIONS.
Promptly the enactment of the new financial
law the Divisions Of Issue and Redemption therein
provided FOR were established and to them were
transferred the accounts relating to the
issue and redemption Of United States notes. and
gold silver and currency certificates. Up TO Octo-
Der 900 500 S54 in United States notes and S..
59 7oS in Treasury notes were redeemed in gold out
of the reserve fund of s150ooo0O 600, Each day the
notes 50 redeemed exchanged for gold from
the general fund so that the reserve kept in
tact In amount and character. Besides this
serve fund the trust funds. consisting of gold coin
silver lolars@and bullion and United States notes
held for the redemption Of certificates and Treas
ury notes. amounted on the day the act became
law - $-22 a.. .2s3. and Increased by November l.
leaa to $74o g5 SO Exclusive OF the reserve fund
the available cash balance of the Treasury was
greater on June So 1900. by S24 SS7.l93 than at the
same date in 1899 but this gain partly offset
by decrease Of IS 663 -273 in the ensuing quar-
Ter The cash assets beyond liabilities were $40
72 nl7 on June 30 1899 $50327502 June 80. 1900,
and 81 IS3 loo October l. 1900.
As the receipts of the Treasury greater than
the needs Of the Government. measures were
adopted by the Secretary for the purpose of re-
storing The surplus the general circulation. these
measures including prepayment of interest and an
offer 10 purchase and per cent bonds up to
80 90 o4 and notice that the s25364.5N then out
standing Of the per cent loan of 1891 would be
paid on presentation. Up to November l the re
aenptions this notice Were s23 800 leaving
s. 5000 outstanding The bond purchases under
The call for and 5 per cents amounted 10 $l''-
zoe E7o with an additional s2373.52 for premiums
The exchange Of per cents the old per cents
and the new per cent for per cent consols under
the provisions Of the financial act has proceeded
steadily The total amount Of the eXchangeaoe
securities outstanding Ss39 1880 and by June
30 Sg7 l25 $50 or 366 per cent of them had been
converted into the news 2s- The premiums al
lowed under the provisions OF the law amounted 10
$50 772.552 and the transactions $S"'4V4'S7o was
paid out Of the Treasury after the adjustment OF
interest and some other accounts. The saving OF
interest effected by the operation is placed at
$42 5g2771 and the saving at $,6oi3l7. On oc-
tober ! out of 1896 1851 80 in honds held 10y the
Treasurer as security the circulating notes OF
National banks. 1858 G75tt@ were new IS
INCREASE OF CIRCULATION.
The aggregate amount of money of ali kinds in
circulation on October J. 1900 is estimated at Glib
294 9S3 an increase of Ss0Sl0144 in fifteen months
of which s94 44O930 due to the enlarged use OF
gold and gold certificates The increase per capita
coz II Tha nor
the latter date $40 60 which is greater than
of all the currency in 1862. while the total OF
gold is greater than all the circulation at any time
before 1873 on October q per cent of the total
circulation gold and gold certificates, 26.4o
per cent in silver dollars silver certfcates g. ana
notes and N per cent III Eatlonal hanh ~ 500
ne - nerr+ts- - I"nttfai States notes was q IS
Two years earlier il high as 32.oI. While
the volume OF United States notes. Treasury
tory urovisiors tn stock Of gold is constantly
growing The metallic stock OF money is estimated Tin
50 in silver dollars and bullion. and *s600O,7 7as in
fractional silver coin. an aggregate OF NIl644957
THE GOLD RESERVE.
The act of March a strengthened the guarantee
for the maintenance Of the gold standard, both in
providing for the setting apart Of a reserve fund
and in adding on@-half thu 100000 OoO, which in
The practice Of the Department formerly main
tained without srecifc statutory requirements
The ratio Of the reserve 10 the fixed volume the
sum Of both cs.se. If Iesaf reRder notes was
Of III Ss6.77.g" u Treasury notes outstanding at
ne paSsaEe ot he act will reduce the demands on
the fund 10 that extent. The inflow of gold in
among which is q fsvorabIe trade balance averag-
ing <t@ - n ~ last.three years. Will also CO.
- The amount Of PaPer currency STAMPED with
Issue ~ the year ended with September 1900. was
S25 1872 ,e.' aeainst 81 tl2"0 in the year preced-
-
asnom9inations hts been so heavy and so fully
me- t D! ne i1~Iarl nent that taking into account
total circulation Of <2.ll3 294 9s3 October
in r6+ DENOMINATIONS o37lr5 atom larger than $50
are cohducted IN increasing ratio in gold. the re-
creased s64 6s00ol and the sbmrsemts s s43
10 over IhS7 mere l. an increase In the circula
few months later Th,s is az ~ inrident - ,b
the Treasury Of such ooius The amount in circli-
lation November was S73 479 4s9
The provisions made by Congress for the increase
been great convenient and 70 hs Dsnayfment
through the Mint, has been able to supply ali de-
Hlands li. ior rs CONS The amount Of them In
226 rose by 0ctobsr 1870 dS So ss S5 1872 IaS 1913 The
gsiFlpItIoh OF minor coins from the Offices Of the
s8is agans, sis26ss8 the hey year sF before
The Treasury each year is called upon 10 furnish
the movement Of tn crops The amount Of these
eGxcTanees G AZ N Suf-Ireasuries in New-Orleans,
was ss,436"o against S3,s7ooGo in 1S9s
me ! ne o9efatons ] under the new financial law in
Treasurer in trust for National banks TO secure
these m h ' 3Po h 2fal Of
during the year from s22s, SIS l10 to S2s4 37sO40
dn during The year ss aGT Co., or g.
per cent OF ne average volume outstanding. in
URi NGIE DIE To IVAPS