The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-11-01
UNITED STATES SHOWN
TO BE FINANCIAL GIANT
National Treasury Overlooking and Increase Of
Monetary Stock Of Country.
Output of Silver Characterization Per Capita Estimated
to Be $2852.

UIAsHINGTON, OCT. 31,-Ellis H.
w Roberts, treasurer of the United
States. in his report Of the trans
actions of his office during the last
fiscal 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 variety and mag
nitude, resulted in noteworthy changes
In the paper currency, as wei as a
steady and healthful growth of gold in
Ghe treasury and in the general stock.
The net ordinary revenues for the
year We're 1851, 6S5.337, an increase Of
$50 444, 49, over those of 1900, which
We're the next highest recorded. The
increase came from each of the heads
of resource but chiefly from internal
revenue.
on the side Of expenditures the total
of 500 961,353 has been exceeded only
four times, i'm 1853, 1861, 1865 ande 1929.
The surplus of S5l,1lL9S4 was slightly
under 100000 less than in 1900 In
elusive Of the transactions affecting
the public dent, the aggregate receipts
were Sl,l46, 4S9, sos, and the aggregate
disbursements 1907 ,G62 052.
For the first quarter Of 1902, although
the act of March ,, 1901, was operative,
reducing the revenue the receipts were
only S3,417.950 less than for the like
period of 1901, while the expenditures
for the same month were reduced by
almost exactly $2Or000,000.
Reserve Required by Law.
The reserve of $15O, OG0, 900 in sold re-
quired by the financial law of 1900 has
been kept intact by the daily substi
tuition of sold coin and bullion out Of
the general fund for the notes re-
deemed. These redemptiOns, which
amounted TO S24.69lS5S 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 certif-
Gates.
After making certain deductions fov
items not available in general pay
ments, the free cash was S156, 664,
which was distributed among the ten
offices Of the treasury and the twelve
offices of the mint including Sl0l, 40
973 i'm the national bank repositories
In the first quarter of 1902 the deposits
en- national banks increased Sl.09l, 49,,
while The available cash balance was
reduced b.. $6,9l3,244
The issue of per cent consOls of
1880 in exchange for the loans matur-
ing in 1894 1871 and 1893 was continued
uD to Dee 81, 1900 at which time the
total amount OF the principal convert
ed reached S445, 940,750.
Payment Of Big Sum.
These transactions involved the pay
ment of an aggregate sum Of SO, 4O9,6O1
in money. on April I was begun, under
the order of the secretary Of the treas
ury, the purchase OF bonds Tor the
same loans, at price computed to earn
I.726 per cent. Up to June 80 the pur-
Chases amounted 90 $14359,52O of prin-
cipal. at a total cost of S16,25I,92S. BY
this process and under notice OF the
secretary of the treasury Sept 10, in
wiling offers to sell to the government
$50. OCU00O OF bonds. including the loan
of 1925, purchases were carried up "a
S40,417, $50, at an aggregate cost or say
1886
OF the funded loan OF 1891, on which
interest ceased Aug. is. 1900, bonds Ca
the face value of S2l,105,250 were re-
deemed during the year. leaving a bal
ancc of 1924. 600 outstanding and on The
new fiscal year payments reduced JnS
balance TO Sl2500.
Although the aggregate of the deb
has been slightly increased the swell
Ing of the figures was due TO enlarged
issue of gold and silver certificates
oct. ] all but S46.12L950 of the new
per cent bonds were held Dy the treas
Jrv for national banks as security fo
circulating notes and public deposits
Monetary Stock of Country.
The monetary stock of the cauntr!
received during the year an increase o
upwards of SIS, 600 I'm gold, 100000
in sflve~ coin and nearly S16,000,O00 il
notes and certificates. The circulation
per capita was S26.50 July I, 1890, 81
July /. 1901, and $2S.52 Oct 1, 1901. III
10 the last date. July 1, 1897, there wa
an Increase OF. 1858, 136, AS in the stool
of gold. which was then estimated a
SLIGO. s58. 80. and of this there wa
Sg0S. us. 436 in circulation in the form
of coin on certificates. BY Oct 81 III
gold i'm tre treasury. consisting of tn
reserve. III, security for certificate
and the sum in the general fund Wa
S542. So. SOS. the highest in the histor
of the country and more than wa
ever held under single control else
where IT. the world, except once for
few months
The receipts in New York for custom
are nearly all in gold certificates. an
balances between the clearing nous
and sub-treasury are settled almos
entirely in the same metal