The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1900-11-17

TREASURER ROBERTS
MAKES HIS REPORT
Prosperity Of the Country Reflected
IN the Condition Of the
National Finances.
GIG INCREASE IN REVENUES
Vet ordlnsry Ineome ,Was sSe7,a4o,sss.
the Largest In the History of the
Coantry-says New Laws Have
Boon Beneficial.
''a INCREASE IN REVENUES

Warrington. Nov. 14.-The annualre-
port Of the treasurer of the United
States. Ellis 81. Roberts, on the opera.
tons n condition of the treasury was
submitted to Secretary Gage today.
M. Roberta says the growth and pros
perity of the country and the general
activity In business ts reflected In the
transactions Of his office. The net or
binary revenues of the government for
n hscal year were $685., 224O, 0b2, the
largest in the history Of the country,
q Increase Of S5l.2so.2a2 over the pre-
|ceding year was contributed from all
general sources, but chiefly from cus-
toms and internal revenues. On
the side OF expenditures there was a
net decroaEe of $117. 35s, asS In compari-
son with 1893, 80 the deficiency Of $780,
l11,btO for that year is converted into a
surplns Of $7s, 527,O80 In 1900. Gross re-
ceipts under warrant, including those
on account OF the public debt. were
S1,1O9, and disbursements $1,195,-
e4s,47z, 9 largo increass on both sides
over the previous year With the ex-
ceptton OF july, 1880, when there was a
deficiency OF 49, os,832, a surplus was
realized for every month OF the year,
the n for June being 81, s95. 15o.
Benefits OF New Laws.
Promptly N tho enactment Of the
neT financial law the divisions Of is
sues n redemption the1sta provided
Tor were established and to them were
transferred the records and accounts
reiAtlng to h issus and redemption OF
United states notea, gold certificates.
slve1 ce~rtificate1 ard currency certil-
- fAn re vIn q "a lrNnA 4 yotn 81 . = - a
IN United States notes and 81, 594, 7o3 in
treasury notes We're redeemed la gold
out OF the reserve fund OF $50, dG0, 900.
Each day h notes so redeemed were
exchanged for gold from tina general
fund 10 that the reserve was kept intact
IN amount and character. Be5tdes this
reserve fuEd. the trust fulds, consist
Ing Of gold ccta. silver dollars AID bull
ion. and United States notes he'd for
the redemption OF : certiticate5 and
treasury notes, amounted on the day
b act becnsae a law to sT23. 05a, 235,
and increased by November /, 1900, to
$780, S5, sf9.
Exclusive Of the reserve fund the
available cash balance OF the treasury
was greater June 90. 1900, by $24,sS7, 1893
than at b anne date In 1899, but this
gain was partly Offset by a decrease OF
S2.eSS.1 73 IN the next ensuing quarter.
- SND0 0&-Sko IVY lthplilllSSU WCIN
t4s,123.01I, June so, 1899; $50. 327. 500, June
20, 1900, and al. 1888, 160 October i, 1900.
As the receipts Of the treasury were
greater than tho needs OF the govern
ment. measures were adopted by he
secretary OF tho treasury fer the pur-
pose Of restoring the surplus moneys to
the genetal circulation, these measures
Including prepayment of interest and
ofer to.purchase 4 and 5 per cent bonds
up to $3.50 GOO. and notice that the
tzs,se4.600 then outstanding OF the 2 per
cent loan of 1891 would be paid on pre-
sentation. Up to November / Tho re-
dcuipttons under this notice were S23,-
los. 800. leaving s2,255. 900 outstanding.
The bond purchases under the call for
l and 5 per cent? amounted to $40, $780,
$50, with an additional 81. 1878. 5o2 for pre-
miums.
Exchange of Bonds,
The exchange Of 5 per cents, the old 4
per cent? and 3 per tents for 2 per cent
consols. under the provisions of the
financial act. has proceeded steadily.
The total mount Of the exchangeabie
securities outstanding was 1888, 146, $40.
and by June 80 1907. 125. 45O. or 3e.6 per
cent of them, had been converted into
new 2s. The premiums allowed under
the provisions of the law amounted to
$50, ia, 552. and In the transactions $780,
a04,s60 was paid out OF the treasury.
after the adjustments of interest and
some other accounts. The saving of In
terest effected by the operation Is
placed at 4a,592, Ill. and the net saving
at $S,604,S11. On October 1, out OF $685.
T55, 100 In bonds held by the treasury as
security for the circulating notes of ma
ttonal banks, S263, 0T5, 900 were new %.
The aggregate amount of money Of
all kinds In circulation on October /.
1900. is estimated at s. ,113. 294, 1888, an in
crease OF $3.50, 810.744 In fifteen months.
Of which s94,44o,9 a0 was due 10 the en-.
!arged use OF gold and gold certificates.
The increase per capita was from sa5. IS
to $2T.10. The per capita of gold at the
latter date was $1,000, which Is greater
than that OF all the currency in 1862,
while the total OF gold is greater than
all h circulation at any time previous
to July, 1879.
On october /. 1926 perscen. OF the to-
tai circulation was in gold and gold
certificates, 26.45 per cent in silver dol
lars. silver certificates and treasury
notes. 15.1l per cent in national bank
notes. 1t is q significant comparison
that on June go. 1890. the percentage Of
United States notes was 2g.5s per cent.
Two years earlier it was as high as
S2.G7. While the volume Of United
States notes. treasury notes and silver
certificates is limited by statutory pro
Visions, the stock OF gold is constant
lly growing. The metallic stock OF
money is estimated for October /, 1906,
at s1.059, 2sS,S20 in gold, $3.50, s55, 1857 In.
silver dollars and bullion, and SSS. OOO.-
as In fractional silver coin, an aEgre-
gate OF sl.711,644, es5.
Strengthened Gold standard.
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 fune.
and in adding one-half to the 800, 00o.-
900. which, in the practice OF the de-
partment. was formerly maintaineC
without specific statutory requirement..
The ratio of the reserve to the fixed
volume of United States notes vas
NATIONAL STOCK CONVENTION.