Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-11-13
CONDITION OF
THE TREASURY.
O,,oone for Last Year Largest in
History
INCREASED EXPENDITURES
.o, of The New Law-Purchaso
cd. Amount Of circulation
cold standard strengthened

II
,oid standard Strengthened
v,.s.oston. Nov l2.-The annual re-
rr.,surer Ellis H. Roberts on
~ oo.rtons and condition OF the
w -y Was submitted to Secretary
~ ,4lav Mr.. Roberts says the
uas Co and prosperity Of the country
81 ,.s. General activity Of business are
"a s..,.l I'M the transactions Of his OF
The net ordinary revenues OF the
u', .-rm4gt for the fiscal year We're
6i0s5g. the largest In the history VI
r.Intry. excepting those oi lSpo'
". ,syt highest by NI2sl,2 ob' Inc III
W. 5f Sjl, 2sO232 over the preceding
49,, MAS contributed from all the gen
l.1 sources. but chiefly from Gus
gu. and internal revenues ON the
W. WE of me expenditures there was
Z increase OF a7G35S,SSs in coinpar-
by, Win 1899, so that the deficiency OF
t8iii 40 for that year was converted
60 surplus OF N9,52LO6O IN lvOV. Inc
llD -sralpts under warrant, including
an account Of the public DEBT,
ll,.1 81 sS7. ggs. 262, and the disburse-
WY sl.lgj.gl3,472. a large increase on
XXX sides over the previous year.
SURPLUS REALIZED,
vie, ,ba exception Of July, 1899 when
,ros "A deficiency 'of SS,506,S32, a
u,l Was realized for every month OF
sIP, - the one for June being the
Wv a, y7gSj.159 The largest re-
80 f,r "a single day were s5,lSs.5l5,
NJ "a 1900 and the largest eXpendi-
tunes 81 sos. 900. July 3, 1900.
rbe largest surplus on any one day
vas uOi7 1893. Aug. 20, and the largest
Ssdeiency S2.3iS,62, July o. lsss.
prouuily upon the enactment or the
-. ersrrlal law the divisions OF issue
a,d redemption therein provided Tor
co., established and TO them were
,.snsfsrred the records and accounts
Lifting 10 the issue and redemption Of
i,n,ta1 States notes. gold certificates,
s0ysr certificates and currency certih-
cStss In 10 oct, /. 1900. S2253O,Si5 In
I',ite3 states notes and $3.50, 1OS In
,r.as,,rv notes were redeemed In gold
an, m reserve fund OF Sl5OOO0,OOO
zach day the notes so redeemed were
tyc6aneed for gold from the general
NH 30 the reserve was kept intact in
amount and character
Resiles the reserve fund the trust
hlni. consisting Of gold colntsllyer dol
hB and bullion and United states
notes. amounted, on the day the act
became a law. to S723.O62,2S3, and IN
creased bv Nov /, 1900. to Fio965,569
AVAILABLE CASH.
Exclusive Of the reserve fund. the
available cash balance OF the treasury
MAS greater June 30, 1900, by S2iSS7,19S
than al the same date in 1899, but this
gain was partly offset by a decrease Of
NGsg7i IN the next ensuing quarter
The cast assets, beyond liabilities. were
NsE30lI on June 80. 1899, $50. SOP on
June so 1900. and Al,lS3l6O on Oct. /,
1900
As the receipts Of the treasurer were
greater than the needs Of the govern
nenr measures were adopted by the
secretary OF the treasury for the pur-
pose Of restoring the surplus moneys 70
the general circulation These measures
Included prepayment Of interest and an
offer 10 purchase 4and per cent bonds
up 20 t25.O00O 00 and notice that the
Nj3Gl 300 then outstanding Of the per
cent loan Of 1891 would be paid on pre-
santauon. Up 70 Nov. / the redemp-
tons under this notice were S23 l0950o,
leaving s. 2ij 900 outstanding The bond
purchases under the call for 4 and
per cents amounted TO sl9. 3oO.6iO with
an additional S. 373, SOP for premiums.
EXCHANGE OF BONDS.
The exchange Of 8 per cents. the old
per cents and the new per cents for
per cent c0nsols. under the provisions
q the financial act, has proceeded
steadily The total amount Of the eX-
changaabe securities outstanding was
IN9li63i0 and by June 60 1907 i25 $50,
Or 1915 per cent Of them had been con-
yertel into the new 2s The premiums
allowed under the provisions OF the law
amounted 90 $50 1852. and IN the
Transactions $780, l0i. $50 was paid out ~
The treasury. after the adjustment OF
interest and some other accounts The
saving of interest effected 10y the oper-
alton Is placed al Si2.592771. and the
net saving at Ss.6O4.817 on Oct. ! out
o.. S96I1j130 In bonds held by the
treasurer as security for the circulating
notes Of national banks, S26S 075,O 900
were new o.
MONEY IN CIRCULATION.
The aggregate amount OF money N
an Kinds lu circulation on oct. /. 1900.
j. esumated at t2ll329f 1888, an Increase
~ NNAioiN IN fifteen months, Of
,shlcn @iiios90 was due 10 the en-
,aIge1 use Of gold and gold certificates,
iA. increase per capita was from S25.3s
wNngL The per capita OF gold at the
lo'ler date was $40 60. which IS greater
van NAT " an the currency IN 1862.
|alle ihe total % gold Is greater than
al ne circulation az any time previous
% July. 1879.
On oct. l. 80 q per cent n the total
..!ieuaton WAS IN gold and gold GER
uneates. 2f.Ai IN silver dollars. silver
,rrghcates and treasury notes. 1886
W United states notes and 1911 per
vtht 10 national bank notes. II Is a
s,,sshIhcant comparison that on June 20
IVY the percentage OF United States
u1'es was -..jS. Two wears earlier A.
was ar high as 1901 While the volume
United States notes, treasury notes
una silver certificates is limited hv
s4llloiy provisions the stock OF gold
u constantly growing. The metallic
49, oi money IS estimated Tor oct. I
NV at 81 ois2SS,S2O In gold $500 .35s 3G7
Y, silver dollars and bullion and $780,
ul'h 10 fractional silver coin. an ag-
g'egaie % N7ll6lf 1856.
GOLD STANDARD ACT.
lhe act Of March II strengthened the
su,a5iahiec tor the maintenance OF the
s o'l standard, both IN providing for the
sgslSHins apart OF a reserve fund and In
151lHs one-half 60 the 500 600 600
~u,h in the practice Of the depart
s. ,.ng was formerly maintained without
ss statutory requirement. The
a 19T1 OF lhe reserve 10 the fixed volume
o. el''tl states notes was raised from
ofy'o $500 per cent While the ratio
D..