Cameron County press. [volume] (Emporium, Cameron County, Pa.) 1866-1922, 1901-11-07
ANNUAL REPORT.
United States Treasurer Issues
His Yearly Statement.
Treasury Never Stronger Than at Close
Present Fiscal Y Xear-Steady and
HeaIthiuI Growth In Gold
Increase of S2O, ,lSj
over Revenues OF 1900.

Washington, Nov. 1.-Hon. Ellis Fl.
Roberts, treasurer of the United
States, in his report of the transac-
fions of his Office during the past tis-
cal year says that the treasury was
never stronger than at the close of
that period. The operations, which
were of the first order both in vari-
ety and magnitude, resulted in note
worthy changes in the paper cur
rency, as well as a steady and health
full growth of gold in the treasury
ard in the general stock.
The net ordinary revenues for the
year were $5S7,6S5, ,337, an increase of
$20,444.4S5 over those of 1900, which
were the next highest recorded. The
increase came from each of the heads
~of resources, but chiefly from inter-
nal revenue. On the side of the ex-
penditures, the total of $509,96 1853
has been exceeded only four times, in
1863. 1864. 1865 and 1899 The sur
plus of $77,717,9S4 was slightly under
So, ,00O, 900 less than in 1900. Inclusive
of the transactions affecting the pub
lie debt, the aggregate receipts were
$1,146, ,4s9 ,3O6, and the aggregate dis
bursements $1,077,O63, ,O52.
For the first quarter of 1902, al
though the act of March ,, 1901, was
operative, reducing the revenues, the
receipts were only $3,417,96O less than
for the like period of 1901, while the
expenditures for the same months
were reduced by almost exactly $780,
600, 900.
The reserve of $15O,OOO, 900 in gold
required by the financial law of 1900
has been kept intact by the substitu-
tion of gold coin and bullion out of
the general fund for the notes re-
deemed. These redemptions, which
amounted to S24, 4,697,25S for the year,
do not indicate any preference for
gold over paper, but simply the desire
for large denominations, which are
most conveniently supplied in gold
certificates.
The monetary stock of the country
received during the year an increase
of upwards of SSS, 900, 900 in gold, $37,-
600, 900 in silver coin and nearly $16,-
OOO. 900 in notes and certificates. The
circulation per capita was 5000 July
1, 1900, $2S July /, 1901, and $2S.52 Oc-
-tober /. 1901.
Up to the last date. from July l.,
1897. there was an increase of $463,-
130,45S in the stock of gold, which was
then estimated at SLIGO, ,353,790, and
of this there was $90S, S,71S, ,436 in circu-
lation in the form of coin or certifi-
Gates. BY October 1 the gold in the
treasury, consisting of the reserve,
the security for certificates and the
sum in the general fund was $542.-
1922. $40. the highest in the history of
the country and more than was ever
held under single control elsewhere in
the world except For a few months.
Arrangements are completed. sub
iect to generous action by congress,
for putting out notes and certificates,
with the beginning of the calendar
year 1902, at the rate of $4,000, 900
pieces annually. 1t is hoped that
thus the currency will be well sea-
soned before it is issued. The re-
demptions of national bank notes
were the heaviest in % years, amount
ing to S147.4S6,577, an increase of $780,
SOB, 07O over 1900.
The shipments of standard silver
dollars from the treasury amounted
for the year to $3S,33S, S,519, and the
amount outstanding in December was
$40. 1S2, 1926. but this was reduced near
hN PibsbON'bOp ny 'hias ~ N'''7' '''NAiNN
of the return of the coins to Washing
ton. The shipments were 5.66 per
cent greater in 1901 than in 1900, and
there was an increase in the first
quart of 1902 over that of 1901.
The uncurrent coins transferred to
the mints for recoinage were less in
all kinds than in the preceding year,
which probably indicate an improve
- In Of bn fo1l in
circulation. Counterfeit silver coins
and paper currency amounting to
,S11, ,5S3 We're detected during the year.