The times. [volume] (Richmond, Va.) 1890-1903, 1901-11-01
Good Surplus on Hand and Gold
Reserve Largest in.History.
MORE SMALL NOTES CIRCULATE
issue of Notes OF Denomination Of slO and
Under Will Be Still Further Increased,
Which Will, IT is Expected,
Make Big Improvement
In the Currency of
the Country.
(By Associated Press. J

(By Associated Press.)
s WASHINGTON, d. c., Oct. S1.-Hon.
Ellis II. Roberts, treasurer of the United
States, in his report of the transactions
Of his Office during the last fiscal year,
says that the Treasury was never strong
ec than at the close of that period. The
operations, which were of the first order,
both in variety and magnitude, resulted
in noteworthy changes in the paper cur
rency, as well as a steady and healthful
growth Of gold in the Treasury and in the
general stock. The net ordinary revenues
fer the year were s5S7 6S5, 1887, an increase
of $40, ,i44,4S5 over those of 1890, which
We're the next highest record. The in
crease came from each of the heads OF
resource, but chiefly from internal rev.
nue.. On the side of the expenditures the
total of 5O9,967,353 has been exceeded
only four times-in 1863, 1864, 1885, and
1898.
The surplus Of sT717;9S4 was slightly
under two million dollars less than in
1000.
Inclusive of the transactions affecting
the public debt, 81, Jag, ass, ,3O6 were the
aggregate receipts and the aggregate dis
bursements SLOT, ,O63, ,O52.
For the first quarter of 1902, although
the act of March 2, 1901, was operative
reducing the revenue, the receipts were
only s3,417,96O less than for the like
period of 1901, while the expenditures for
the same months were reduced by almost
exactly $4,000 600.
BIG INCREASE
The monetary stock of the country re-
celveo. during the year an increase of up
wards of sSS,000.Oo Al gold, So, 100000 in
silver coin, and nearly sic, 100000 in notes
and certificates. The circulation per-
capita. was S26.5Os July /, 1900; $500
July 1. 1901, and s2S.52- October /, 1901.
Up to the last date, from July 1. 1897,
there was an increase of $463, 130, ,45S, in the
stock of gold, which was then estimated
at SLIGO, ,357. 1903 of this there was $685.
71S,436 in circulation in the form of, DO II
or certificates. BY October Il, the gold
in the Treasury, consisting Of the reserve,
the security for certificates and the sum
in the general fund, was $542, ,S22, ,S49 the
highest in the history of the county, ana
more than was ever he:i uni,r sinS:e.
control elsewhere in the world, except
for q few months.
The receipts in New York for customs
are nearly all in GOLD certificates, and
balances between the clearing house and
subtreasury are settled almost entirely in
the same medium. To the extent that
gold certificates, which are Of the denoni-
nations of 5000 and upwards, have taken
the place uf other large paper, it rss
been possible to supply small notes ard
certificates much more freely than former
sly. 1t is reasonable to believe that over
$40, 600, 900 of paper will, by influences now
at work, be changed from denominations
above $40 to lnat size or smaller, so that
the annoyances which have h."ctofcie
arisen annually from Inc overwhelming
demand for small notes may be expected
to diminish.
On October the total amount Of out
standing paper money Of the denomina-
tions of $40 and under was 1886, ,121, ,g2l.
The increase i'll those denominations in
the last four fiscal years was upwards
Of sl66, 100000.
MORE SMALL NOTES.
Arrangements are completed, subject to.
generous action by Congress, for putting
out notes and certificates with the be-
ginning of the calendar year 1902 at
the rate Of s135,o00,000 annually. 1t is
hoped that thus the currency will be we'll
seasoned before it is issued.
The Shipments of standard silver dol
lars from the treasury amounted for the
year to S3S, ,33S SO, and the amount out
standing IN December was SIG. .1s2, sS26; but
this was reduced nearly s10,O0ocO0 by Ju-
ly, in consequence of the return of the
coins to Washington. The shipments
were 5.66 per cent. greater in 1901 than in
1900, and there was an increase in the
first quarter Of 1902 over that OF 1901.
Standard dollars were given for gold in
New Orleans to help move the crops to
the amount Of $2,250,OO0, and for deposits
in NewSYork they were shipped to South
ern points for So, SIS, zoo.
The sandard dollars held at the treas
ury In Washington for exchange were
81 pei. cent. in excess of such transactions
in the preceding year