The times. [volume] (Washington [D.C.]) 1897-1901, 1900-11-13
THE NATIONAL REVENUES.
Statistics ,tFrom the Annual Report
of Treasurer Roberts.


Ellis Fl. Roberts. Treasurer of the Unit
ed States, has submitted his annual re
port to Secretary Gage. The growth an
prosperity of the nation, he declares
have been reflected in the transactions q
his office. The report in part is:
The net ordinary revenues of the Gov
eminent for the fiscal year were 1861. 40,
$50, the largest In the history OF tn
country, exceeding those of 1866, the mex
highest, by SAT- .291 ,2SS The increase o
SOL ,2s0,232 over the preceding year was con
tributed to from all the general sources
but chiefly, of course, from customs and in
ternal revenue,
On the side of the expenditures there
was net decrease of SLY 5S.3sS. II
comparison with 1899. so that the def
cheney of $50. Ill $50 for that year was
converted into surplus of s79,527.O6o il
1900. The gross receipts under warrant
| including those on account of the public
debt, were $1.3S7 1896. 262, and the dis
by June 30, 1907, 125, $50. or 3S.6 per cent. o
them, had been converted into the new
rs. The premiums allowed under the pro-
visions OF the law amounted to $50, 1882
and in the transactions $50, 404, $50 was PAID
out Of the Treasury, after the adjustments
OF interest and some other accounts. The
saving Of interest effected by the operation
is placed at $42.592. III and the net saving
! at $S.60i,311. On October 1, out of 1885,
| 1J5, 100 in bonds held by the Treasurer as
security for the circulating notes of ma
tional banks, 1868, O75. 900 was new 2's.
The aggregate amount of money of all
kinds in circulation on October l. 1900, is
| estimated at 81. H. 294 1888, an increase OF
$3.50, SO, IA in fifteen months of which $94,
$40, $50 was due to the enlarged use of gold
and gold certificates. The increase per
capita was from s25.3S to s27.O1. The per
capita Of gold at the latter date was $1,000,
which is greater than that of all the cur
| rency in 1862, while the total Of gold is
greater than all the circulation at any time
previous to July, 1879.
The act of March Il strengthened the
guarantee for the maintenance of the
gold standard. both in providing for the
setting apart of a reserve fund. and in
adding one-half to the 100000, 900 which.
in the practice OF the department was for
merly maintained without specific gtatu-
tory requirement The ratio of the reserve
to the fixed volume of United States rotes
was raised from 2SS5 to 1927 per cent.
The inflow of gold in consequence Of ma
terial conditions, prominent among which
is favorable trade balance averaging
$3.50. 2S3, 209 in the last three years, will
also cooperate with the state.
The amount of paper currency stamped
with the seal of the department and pre-
pared for issue during the year ended with
September, 1900. was 1923. 1872. 600, against
1852, 412 ,0CO in the year preceding. The re-
demptions of worn material were S303.-
219.S24 in the later period and S255. 021 $50
in the earlier. The increasing demand
for notes of small denominations have
been so heavy. and SO fully met by the
department that, taking into account the
gold coin. of the estimated total circuIa-
ton OF 81, 113, 294.5S3. on October 1. only
S426. 045. 022 was in denominations larger
than 500.
The operations OF the Treasury and its
branches are conducted in increasing
ratio in gold the receipts of the fiscal
year in that coin having increased $751;
0S0,001. and the disbursements $500 $40. 1928
over 1899. There is an increase in the
circulation of standard silver dollars in
the autumn OF each year, followed by
their return TO the Treasury few months
later. This is an incident to the move
ment of the crops and to the free de-
livery by the Treasury of such coins.
The amount In circulation November 1
was s73. 479, 400.
The provisions made by Congress Cor
the increase of the subsidiary silver COIN
age to 500. 5000 have been great con-
venience. and the Department. through
the mint. has been able to supply all de-
mands for these coins. The amount of
them in circulation, which in January.
1890, was only s54,202. 40. rose by 0cto-
Der l. 1900. to $40 .432 1913. The distribu-
ton of minor coins from the offices Of
the Treasury and mint during the fiscal
year amounted to s3.174.s71.01, against
81, 1926. 1888 the year before. There were
transferred from the Treasury to the
mint during the year. si03.2 in gold,
s. .621 in silver. and SCISSOR in minor
coins. to be reconed.
The Treasury each year is called upon
to furnish small denominations of paper
currency for use in the movement of the |
crops The transfers are effected chiefly |
by the deposit of funds with the Assistant |
Treasurer in New York in exchange for |
which the currency sought for is paid cut |
at the sub-treasuries in New Orleans. st. |
Louis and Chicago The amount of these |
during the past season. up |
to November l. was sS.436000 against |
So. $40 900 in 1899
The act of April - 1900. provides for
he substitution Of United States coins for
he Spanish coins of Porto Rico. estimated
by experts at $4,000 pesos. at the rate
VI GO cents FOR eaCh peso. The exchange
vas begun on May l. when the provision
vent into effect, and by August 20 the sum
If $40, 221.S2 pesos had been received and
,aid for in s3.2S2. 1862 of American money.
During the fiscal year there were de-
ected and destroyed at the offices of the
Treasury s11.I46.70 in counterfeit silver
ons, notes, and certificates. 3,2TI scent
,ieces and l2l go 1-cent pieces. Compare
on with the previous year shows no sig
lificant changes. excepting in the number
Il spurious minor coins in circulation,
which are rapidly on the increase. Coun-
erfeit gold coins are rare only thirteen
aving been presented at the Treasury dur
ug the year.
The operations under the new financial
aw involved great changes in the bonds
eld by the Treasurer in trust for national
anks to secure circulating notes and pub
Ic deposits. The total of these bonds in
he Treasurer's hands increased during the
car from S223, 6SS. 10 to 1884. 37S .Oi0 Bonds
+ the State of Arkansas for $3.50, COO for
leTly belonging TO the Indian trust fund
ave been paid.
The national bank notes presented for
exemption during the year amounted TO
SO. 9S2. 6O7. or 1875 per cent of the average
olume outstanding. an increase of s61ii-
GG over 1889. The expense incurred in
he redemption and assortment, including
81, I61 for transportation. amounted to
l22.9Sj. which sum will be apportioned
mGng the banks at the rate of 81 .9Ss55s OF
leir notes redeemed.
The Aftermath.