The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1901-11-08
CONDITION OF THE
NATIONS TREASURY.
Was Never in Better Shape
Than Now, Says Treas
urer Roberts.
a BIG GAIN IN REVENUE
Comes Mainly From In
ternai Taxes-An Increase Of
S141,ooo.ooo In the Country's
Monetary Stock

washington, Nov. 2.-HOn. Ellis H.
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 stronger
than at the close OF that period. The
operations. which were of the first or
DEF both in variety and magnitude, re-
suited in noteworthy changes In the
paper currency. as well as a steady and
healthful growth OF gold in the treas-
ury and In h general stock.
The net ordinary revenues for the
year We're $587, 686, 1897, an increase Of
$50, AZ, 4S5 over those OF 1900, which were
the next highest recorded. The in-
crease came from each of the heads OF
resource, but chiefly from internal e v
enue. On the side Of the expenditures,
the total Of $500, s67. 1853 has been ex-
ceeded only -four times-in 1863, 1864,
1855 and 1899. The surplus Of ST, III, S84
was slightly under $1,000 900 less than
in 1900. Inclusive of. the transactions
affecting the public debt h aggregate
receipts We're $1,146, 489, 306. and the ag-
gregate disbursements $l,077, 063, 052.
The reserve of $3.50. 000. 900 in gold re-
CURED by the financial law of 1900 has
been kept intact by the daily substitu-
ton of gold coin and bullion out Of the
general fund for the notes redeemed.
These redemptions amounted to $24,-
L97. 55S for the year. 4
After making certain deductions for
Items not available in general pay
ments, the free cash was 1856, 81. 664.
The issue Of 2 per cent consols of 1890
in exchange for the loans maturing in
1904, 1907 and 1908 was continued up to
December 81, 1900. by which time n
total mount of the principal converted
reached $445, SAC, $50. These transactions
involved the payment of an aggregate
sum of $45,409, 607 in money. On April
! was begun, under the order Of the
secretary of the treasury, the purchase
of bonds Of the same loans, at a price
computed to carr LIPS per cent. Up to
June 30 the purchases amounted to
$14. 359, $50 Of principal, at q total cost
Of SIG, 257, 1928. By this process and un-
der a notice of the secretary of the
treasury September 10, inviting offers
to sell to h government $50, 1000, 900 OF
bonds, including the loan OF 1926, pur-
chases We're carried up to $40,477, $3.50,
at an aggregate cost of $49,438, 436. OF
the funded loan of 1891, on which the
interest ceased August Is, 1900, bonds
of the face value Of $21. 705, $50 were re-
deemed during the year., leaving q Ual-
ance OF $274,60 outstanding, n in The
new fiscal year payments reduced the
balance to $12,500. Although h az
gregata OF the debt has been slightly
Increased, the swelling OF the figures
NSho NAS " rs oSNs oOHN
and silver certificates. On October l
all but SAG, 1884, $50 of the new Q per cent
bonds were held by the treasury for
national banks as security for circu-
lating notes and public deposits.
The monetary stock Of the country
received during the year an increase OF
upwards Of sss, 900, 900 In gold. s37, 0o0, 900.
in silver coin and nearly SIG. 600. 900 in
notes and certificates.
Tho c{rc,11o fi0n nor "a rffa wos S26 E0i
July 1, 1900, $2S July 4, 1901, and $28. So
October /, 1901. Up to the last date
from July l, 1897, there was an increase
Of $463, 1870, 458 in the stock of gold, which
was then estimated at 81, 100, 353, 700, and
of this there was $908, 718, ABS In circula-
ton in the form of coin or certificates.
BY October 81 the gold in h treasury.
consisting OF the reserve, the security
for certificates and the sum in the gem
eral fund, was $542, 1929, 849, the highest
lin the history of the country and more
than was ever held under single con-
troll in the world except once for a few
months.
on october 1 the total amount Of out
standing paper money OF the denomin-
ations OF $40 and under were $3.50, 121,921.
The increase in those denominations in
the last four fiscal years was upwards
81 $3.50, 000, 900.
Arrangements are completed, subject
to generous action Of congress, for put
ting out notes and certificates with the
beginning of the calendar year 1902. at
/ the rate of 1856, 600, 600 pieces annually.
It is hoped that thus the currency
will be well seasoned before 1t is is-
sued.
The redemption of the national bank
notes was the heaviest in twenty-five
years. amounting to $147. 486. 577. an In
:rease of $50. 503. $40 owe 1900.
The shipments Of standard silver dol
liars from the treasury amounted for
the year to 33S. 1888, 519, and the amount
outstanding in December was SIC, 182,-
528, but this was reduced by nearly &c.,
100000 by July, In. consequence OF the
return Of the coins to Washington.
The shipments were 5.66 per cent great
sr IN 1901 than In 1890.
The standard dollars presented at
the treasury In Washington for ex-
change were 81 per cent In excess OF
such transactions In the preceding
year.
The shipments of subsidiary silver
coins were 8.94 per cent in excess Of
those Of 1900. and the amount in circu-
iation advanced IS, 405. $50. The redemp-
tions In 1901 were 1876 per CEN more
than the year before.
Porto Rican. coins representing e.
699.577 pesos in silver and 84,122 in
bronze have been exchanged unasr the
AUTHORIZATION act into $3,440. 220 In tho
United States currency. The exchanges
have now fallen to such small proper
tions az to indicate that but few Of
the old coins remain in circulation.
Since July i 1900 b principal In
road company has been reduced In the
sum OF 34s7Ss.9H by cash payment and
transportation furnished. The balance
OF b principal remaining unpaid Mt