Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-12-06
WASABANNER YEAR.
Secretary Cages Annual Report
Makes a Good Showing.
TIE RECEIpTsOVER S666,595,43i.1S.
Is Balance. of s7s,ooo,ooo over All
Expenditures--currency Act Wise
II Step Secretary Ihtimates That Ad-
ditlonal Legislation is Needed.

Expenditures--Currency Act Wise
RI Step Secretary Intimates That Ad-
ditlonal Legislation is Needed.
The annual report of the secretary
of the treasury was filed by Hon. Ly-
man j. Gage yesterday. 1t is an ex
ceedingly elaborate and pretentious
document of not less than seventy-one
pages, but it is replete with interest
ing matter from beginning to end.
Total Revenues.
The report shows that the revenues
OF the government from all sources by
warrants for the fiscal year ending
June 80, 1909, was $500, $685. 311S. The
total expenditures amount to $780,
O68,371, thus showing a balance of
$79, 527 ,O6O.1S.
In addition to the revenues collect
ed during the year and the amounts
received on the Indebtedness of Pa
cific railroads, the cash in the treas
ury was increased by the following
sums: From subscriptions to the
per cent ten-twenty bonds issued UNI
der authority of the act of 1898, for
the Spanish war expenditures, $113,-
800, and from the issue of the per
cent bonds in liquidation of interest
accrued on refunding certificates con-
verified during the year, $1,490, making
= total of $115,410.
Comparisons.
AS compared with the fiscal year Of
1899, the receipts fer 1900 increased
$58,613 ,426S3. There was a decrease
In, SynanIiffJrae Of Gilt AKA 922 Id
Revenues for the Year.
The revenues of the government for
the current fiscal year as estimated
upon existing laws are placed at the
fonowing figures: 1857 ,773,253.92. The
expenditures for the same period are
estimated at $60I, ,253.92, leaving a
surplus of $Sv,000,000.
q Receipts Irregular.
The treasurer calls attention to the
marked irregularity in the receipts
and expenditures, pointing out that
while In July 1899, there was def
cheney of $S,506,S 32.28, in June, 1900, a
surplus of $17,895, 1886 was realized.
The greatest difference between out
go and income in any one day was $4,-
047, 396.05 in favor of the treasury.
The corresponding maximum deficien-
cy was $2,31S,621.42. In the face of
such wide fluctuations the necessity
for ample reserves is apparent, and
the secretary names $50,000,000 as a
proper sum to keep in the government
vaults.
Balance Increased.
Comparison of the state of the trea-
sury shows an increase of $24,SS7,-
s093.39 in the available cash balance,
exclusive of the reserve of $150,000,0 900
for the year.
Is Convenience.
The authority to increase the issue
of subsidiary silver coin to 100000
900, which was granted by act OF
March IA, 1900, has been convent.
ence to both the public and the treas.
ury. The department, thru the mint
has been able to supply all demands
for them, and their circulation in
creased by October 1, 1900, to $79,4S2,
1893.
National Banks.
During the existence Of the national
banking system, 5,477 national bank
ing associations have been organized
of which 1887 have been placed in vol
untary liquidation by the sharehold
ers. and 374, which failed, in charge OF
receivers, leaving 3,S16 banks in act
i've operation at the close of the fisca
year.
Banks Organized in One Year.
The number Of national banks or
gained during the year in each state
and territory is as follows: Pennsyl
vania, So; Texas, Ohio and Illinois, 20
Iowa 16; New York and Oklahoma
IL: Indian Territory, IA; Nebraska
10; Minnesota, IL; New Jersey, 10
Indiana, 8; Virginia, 8; Kentucky ant
Kansas, Z; West Virginia and eWiscon
sin, s.; Connecticut, Maryland ant
North Dakota, Al; New Hampshire
Michigan, Missouri, South Dakota
Colorado and California 8; North Car
DINA, Georgia, Alabama, Wyoming
New Mexico and Washington, 2
Massachusetts, Delaware, South Car
DINA and Tennessee, /.
Foreign Commerce.
Four great facts characterized thu
foreign commerce of the fiscal yea
OF 1900: First, 1t exceeded that o
and preceding year, and for the frs
time the grand total of imports ant
exports passed the two billion dolla
mark; second, manufacturers mater
ials formed larger proportion of tn
imports than ever before; third, man
ufacturered goods formed a large
proportion of the exports than eve
before; fourth, exports were large
than ever before, and were more wide
ly distributed than in any precedin
year.
Imports
The imports for the year showed a
increase of S152,792,695.
War Taxes.
The treasurer in referring to tn
war taxes and their reduction says
1.-THE present and prospective easy col
dition of the treasury justifies the BIZ
lief that the sinking fund requiremer
can be met, both for the current fiscs
year, and still permit moderate r,
d,lction in taxes imposed by the wa
revenue act. A reduction to tn
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