The Savannah morning news., 1900-11-13
TREGSURER'S ANNUAL REPORT.
DEFICIENCY or IsOo CONVERTED
INTO me- SURPLUS.

Results of Operations OF the Recent
Financial Law-More Than 1--WE
Milton Dollars Now IN Circulation.
AZ Amounts Now Co s27.OI Per Cap
ita-Nearly 40 Per Cent os the CIR
culRtion Il In Gold-Other Treas
nry Figures.
Washington. Nov. i2-The annual rero-t
Of the treasurer Of the United states
Ellis n Roberts. on the operations ana
condition Of the treasury vas submitted
to Secretary Gose to-day Mr.. Robert
says the growth and prosperity OF the
country and the general activity Of bust
ness are reflected In the transact ons q
his oflcc
The net ordinary revenues OF the gov
eminent for the fiscal year we're Hi7 60
So. the largest IN tho history OF the coun-
Try, exceeding those OF 1894 the next
highest. by 81 81. .SS The increase ~
sJi.2so. ~ over the preceding year was
contributed from an the general sources.
but chiefly from customs and internal
revenue. on the side Of the expenditures
there was a net decrease OF tiiT 1sS sSS iu
comparison with 1899. 80 that the lie.
nclency o. So TOO for that year WAS
converted into a surplus % SO. l06l IA
1900
Promptly on the enactment OF the new
financial law the divisions % issue and
redemption therein provided for were 80
tabdshed and 60 them were transferred
the records and accounts relating to the
issue and redemption q United States
notes gold certificates silver certificates
ard currency certificates. Up 10 oct. }.
1870, i22530.sA Ia United States notes and
50 594.7es IN treasury notes were redeemed
in gold out Of the reserve OF ti500no 000
Each day the notes 20 redeemed were ex.
changed FOR gold from tho general fund
80 that the reserve was kept intact In
amount and character Besides this re-
serve fund for the trust funds consisting
OF gold coin. silver dollars aud bullion. and
| United States notes held for the fcdemp-
ton Of certificates ana treasury notes.
amounted on the day the act became
Law 20 SIS os2, 2s and increased by Nov
1. 1900 to SIi0s5.sTs.
Money in Circulation.
Tho aggregate amount % money Of all
KINDS IN circulation on Oct l. 1900. Is es-
timated at 2ii3 99f. sS3. an Increase Of
$50 Sofa IN fifteen months. OF which t9a.
ii0.a30 was due 20 the enlarged use -
gold and gold certificates The Increase
per capita was from 81. 3S 10 sg7.Ol The
per capita Of gold at the latter date was
si05o, which Is greater than that OF all
The currency IN 1862. while tho total OF
gold is greater than oil the circulation
M any time previous 10 July 1873
on Oct. ]. 1924 per cent OF the total
circulation was In gold and sold certih-
Gates. &C. e In silver dollars. silver ceriifi-
Gates and treasury notes. 1896 per
cent IN United states notes and Is II
per cent IN national bank notes IL =
significant comparison that on June
/ 90 1880. the percentage OF United States
notes was MSS Two years earlier IL
was rs high as 22W. While the volume
| o. United States notes. treasury notes
and silver certificates H. limited by staiu-
tory provisions. the stock Of gold Is con-
stantly growing
Tho metallic stock OF money "a estimat
ed for oct. /. 1902 rs 81 O59 ~ go IN gold
80 50. 81 In silver dollars and bullion ana
SsGo07N In fractional silver coin, an ag-
greEate OF nm. sasS5.
The act Of March II strengthened the
/ guarantee for the maintenance Of the gold
standard both IN providing for the set .
ting apart Of a reserve fund and Ia add
ing onc-half 20 the n00O00Op0. which IN
the practice OF the department was for
merly maintained without specific statu-
tory requirement The ratio Of the re-
serve 90 the fixed volume OF United States
notes was raised from SIS 20 4sT ner
cent. while the ratio o. the new reserve
TO the sum OF both classes % legal tender
notes was originally only "a per cent the
/ gradual retirement OF the xss.TT00o0 Of
! treasury notes outstanding OF the passage
/ Of the act viii reduce the demands on the
/ fund 70 that extent