Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-11-13
TREASURY REPORT.
Prosperity Of Country Re-
fected in That Department.
Net Revenue for the Year Amounts
to S567,24O.852.
REPORT SHOWS QUALITY OF RE.
PUBLICAN FTNANCIERING

States. Ellis II. Roberts, on the opera
| tons and condition of the treasury.
was submitted 10 Secretary Gage. to-
! day. MIR. Roberts says the growth and
| prosperity of the country and the gen
| eral activity of the business are. re-
! fiected in the business OF his Office
| The net ordinary revenues of the
government for the fiscal year were
Sat,2i0. S52. the largest in the history
o: the country. exceeding those of 1866
the next highest. by $4723l .2sS The
increase of S5l4. $50, 232 over the proceed
| ing year was contributed from all the
general sources. but chiefly from Gus
toms and internal revenue
on the side of expenditure there was
decrease of Sill 1856. 3SS in comparison
with 1899. so that the deficiency Of $s9.-
lll,5G0 for that year was turned into a
surplus of 1882 .0td in 1900 The gross
receipts under warrant, including those
on account Of public debt. We're 81 $751;
29S 262. and the disbursements 81 1885,
5i2. ~, a large increase on both sides
over the previous year.
With the exception of July 1899 when
there was 4 deficiency Of ss.Jl6, $50.
surplus was realized for every month
/ 81 INC JtlT. ttlt one lbf June D.lNS Inc
largest al 81 ,S95. $50. The largest re-
ceipts for 4 single day We're So 1919. 512.
Feb. % 1900. and the largest expendi-
lures, S4.S03, 900, July 3. 1900. The lars-
est surplus on any one day was $4.041.-
$50. Aug %. and tho largest deficiency.
s.. 3ls C2l. July :, 1899.
| Promptly on the enactment Of the
new financial law the divisions of is
sue and redemption therein provided
FOR We're established. and u them Were
| transferred the records and accounts
| relating 10 the issue and redemption Of
| United States notes, gold certificates,
silver certificates. and currency ccrtifi-
| Gates. Up TO Oct. l. 1900. s22.530,S54 in
| United States notes and $685.. 10s in
| treasury notes and 1884. 70S in treas
| ury notes We're redeemed in gold out az
the reserve fund OF sl50.Gy9. zoe. Each
| day the notes 50 redeemed We're ex-
| changed for gold from the general
| fund. 50 that the reserve fund, the
! trust fund, consisting Of gold coin, sill
ver dollars and bullion. and United
| States notes held for the redemption
Of certificates and treasury notes.
amounted on the day the act became a
law 10 1928. 052 os3 and increased by
Nov !, 1900, - $40 965,s19.
{ Exclusive of the reserve fund the
| available cash balance of the treasury
| was greater. Jun. 80, 1900. BY s3+SS1 .lS3
| than at the same date in 1899. but this
| gain was partly offset by a decrease of
| IS, $685. in the next ensuing quarter.
| The cash assets beyond liabilities were
$40. 7o3.ol7. June 90. 1899: so, 327.5o1
June 80. 1900: and sil,IsS,ls0, oct /.
| 1900.
As the receipts OF the treasury We're
greater than the needs Of the govern
rleut measures were adopted by the
secretary OF the treasury for the pur
pose Of restoring the surplus moneys
| - the general circulation. those meas
ures including prepayment Of interest
and an offer to purchase and per
cent. bonds up to s25. 600.0 600 and notice
! that the SO, 3e5 500 then outstanding Of
the par cent. loan Of 1891 would be
paid on presentation. Up TO Nov. /.
the redemptions under this notice were
s23 100. 300. leaving $2255, 900 outstand-
ing. The bond purchases under the
call for and per cents. amounted
u SO. coz. $50. with an additional $3.50
5oo for premiums
The exchange OF ; per cents. the old
1 per cents, and the new 3 per cents,
for per cent. consolS, under the pro-
vision Of the financial act. has proceed
ed steadily. The total amount OF the
exchangeable securities outstanding
was $3.50 AS $40. and by June 80, 500
Ia5. $50 or 36.6 per cent. of them h1H
been converted into the new IS. The
premiums allowed under the provisions
Of the Law amounted 10 $50. 1852, and
in tho transaction $50. +0i $50 was paid
gu. OF the treasury. after the ADJUST
ments Of interest and some other ac-
counts. The saving Of interest effectef
by the operation is placed at s42,59s,1 Il
ami the net saving a Ss.6oi3l1- on
Oct. / out II S2e6 - 1870. in bonds held
bv The treasurer as security for the
circulating notes of national banks.
1868 90 800 We're new IS.
The aggregate amount If money Of
all kinds in circulation on Oct. /. 1900,
i estimated at So 113. 29f.9s3. an increase
Of slSO.SI0.744 in Is months. Of which
s94 Az. s3a was due to the enlarged use
OF gold and gold certificates. The in
crease per capita was from $25.3s 10
s2- The per capita Of gold at thu
latter date was 5000 which is greater
than that Of all III" currency in 1852.
while the total OF the gold IS greater
than all the circulation Al any time
previous to July. 1879
on October !. 1924 per cant. Of the
total circulation was in gold and gold
certificates. 26.45 in silver dollars sill
Yer certificates and treasury notes.
1876 per cent. in United States notes.
and l5.lI per cent. in national bank
notes. II is a significant comparison |
that on June 30, 1890. the percentage |
If United States notes was 22-5s. Two |
wears earlier, il was as high as 900 |
Whit. the volume of United States |
notes. treasury notes and silver certifi- |
Gates is Iirrli ed by statutory provisions. |
the stock OF gold is constantly grow |
ing.
The metallic stock Of money IL esti-
mated for oct. /. 1900. al 81 ,o59 2ss. 500 |
in gold $3.50. 3355 .357 in silver dollars and |
bullion. and sss.000.14s in fractional sill |
YER coin an aggregate Of Sill ga, a35 |
CONTINUED On page 81