The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1900-11-17
THE NATIONS FINANCES.
United States Treasurer Roberts
z Makes His Report ON the Condi-
tions of the Treasury.

49,
Washington, Nov. 13.-The annual report
J Of the treasurer of the United States, Ellis
II. Roberts, on the operations and condition
Gage Monday. Mr.. Roberts says the growth
and prosperity of the country and the gen.
4 eral activity of business are reflected in the
: transactions of his office.
Is The net ordinary revenues of the gov
eminent for the fiscal year were 1851, 240. :
s52, the largest in the history of the coun-
: try,' exceeding those of 1866, the next
highest. by $47, ,2SS. The increase of $751;
2SO.232 over the preceding year was con-
trtbuted from all the general sources, but
chiefly from customs and internal revenue.
On the side of the expenditures there was q
net decrease of Sill, 35S3SS in comparison
. with 1899, SO that the deficiency of $50, Ill $50
for that year was converted into a surplus
! Of $7S,52706O in 1900. The gross receipts un-
der warrant, including those on account Of
the public debt, were 81, $751;, 299, 262, and the
disbursements, 81, JOS, 943 472, large increase
Z on both sides over the previous year.
Fromptly on the enactment of the new
s financial law the divisions of issue and re-
demption therein providedifor were estab-
Mshed. and to them were transferred tho
records and accounts relating to the issue
and redemption of United States notes.
E gold certificates, silver certificates and cur
rency certificates. Up to October 1, 1900,
tyAAseVoioJx AZ O1llcO oldIeS notes ana 3D..
oS4. l0S IN treasury notes were redeemed in
gold out of the reserve fund of $3.50, 600 900.
i Each day the notes so redeemed were ex-
= changed for gold from the general fund,
so. that the reserve was kept intact in
amount and character. Besides this re-
serve funo, the trust funds, consisting of
z gold coin, silver dollars and bullion, and
United States notes, amounted on the day
the act became law to $723, 062 2s3, and in
creased by November /, 1900, to $40, 965, 679.
AS the receipts Of the treasury were
greater than the needs of the government,
: measures were adopted by the secretary of
the treasury for the purpose of restoring
the surplus moneys to the general circu-
iation, these measures including prepay
ment OF interest and an offer to purchase
four and five per cent. bonds up to $25,OO0-
O00, and notice that the SIS, 1864, 500 then out
standing of the two per cent loan of 1891
would be paid on presentation. Up to No
vember the redemptions under this notice
were w. $500. leaving 81, 255, 600 outstand-
Ing. The bond purchases under the call
for four and five per cents. amounted to
$3.50 0.65O, with an additional s., 373, 502 for
premiums.
The exchange of five per cents, the old
four per cents. and the new three per cents
for two per cent. consols, under the pro-
visions of the financial act, has proceeded
steadily The total amount of the ex-
.cnangeable securities outstanding was
l4S, $40, and by June 3d. 500, LIE, 49, or Sc.
Z per cent. of them had been converted into
the new tWos The premiums allowed un-
der the provisions of the law amounted to
$30.77S552, and in the transactions $50. 404 $50
/. was paid out of the treasury, after the ad-
)ustments Of interest and some other &C.
! counts. The saving of interest effected,by
the operation is placed at $42,592,71. and
the net saving at S. 604,317. On October i,
{ out OF $2s6755, 100 in bonds held by the treas
fHy foe I, .oS,
OF national banks. $3.50, 075 900 were new
twos. - Z - "
The aggregate amount of money of all
Kinds IN circulation on October 1, 1900, is es-
timated at $2.113. 94,9S3, an increase of $780,
Sl0,744 In Us months, of which 1914 440, $50 was
due to the enlarged use Of gold and gold
certlncates. The increase per capita was
from $25.SS to $27.01. The per capita of gold
at the latter date was $1,000, which is great
er than that of all the currency in 1862,
While the total of gold is greater than ali
1879. - 80 ~ ;
The provisions made by congress for the
Increase Of the subsidiary silver coinage to
$l0e0 0.00O have been a great convenience,
ana the department, through the mint. ha 3
been able to supply all demands for these
COINS. The amount of them In circulation.
which in January, 1890. was only $54, no,
rose by October I, 1900, TO SIS, 49,. 194. The
distribution Of minor coins from the Of
f1ces, OF the treasury and mint during the
fiscal year amounted to $3,174,971, against
$1,926.9SS the previous year.
The national bank notes presented for
redemption during the year amounted to
s96.9S267. or 1925 per cent. of the average
volume outstanding, an increase Of s., H.
;S06 over 1899. The expense incurred in the
redemption and assortment, including $751;
20 for transportation. amounted to sl22.-
9S5. which sum will be apportioned among
the banks at the rate Of $1.3355S Of their
notes redeemed. -