New-York tribune., 1901-11-01
TREASURY TRANSACTIONS.
VAST OPERATIONS IN THE LAST FIS-
CAL YEAR.
GOVERNMENT FINANCES IN MOST SAT
IsFACToRY CoNDITIoN-AHNUAL RE
PORT OF TREASURER ROBERTS.

PORT OF TREASURER ROBERTS
Washington. Oct 3-EIlis II. Roberts, Treasurer
Of the United States in his report O. the trarsac-
tions Of his office last fiscal year says tii'
the Treasury was never stronger than at the coSe
Of that period. The operations, which were oI tle
first order. both in variety ana MAGNITUDE -
suited in noteworthy changes in the paper cur
rencv as well as a steauy and heaftffui CROWN 'i
goId in the Treasury and in the general s'och'
The net ordinary revenues for the year were
s5s7. .5S5 397. increase of S2o'ifi'4S9 oNei r.
1893 which were the next highest recci
increase came from each Of the heaos OF -.
but chiefly from internal revenue In eNpenui'
-,a trial ~ s=0a s3 Us exceeded ohlE iO"
tirnes-in 1853 1854. 1855 and 1899 The surplus a.. a.
SIM sSs was slightly under Seh"" less Una" "
1860 Inclusive OF the transactions ~ alle me 400 M.
public debt the aggregate receipts were Sllf'
ar5 n. sgerapate disbursements s1.077.tS2.Oa2.
For the first quarter OF 1902, although the ACT u
March . Iec was operative reducing 'he
the receirts Were only s3il7,s+9 less 'hah ioi
like nariod Of 1901 WHINE the expenditures iol @ oa @
-, .-ths ,-ara reduced almost exactly Sossl"c'-
-r,e rese-z-e Of SI5n 0ao90 IL gold required pH HS
financial law Of 1850 has been kept intact pH -
5sfl,y substitution gold coin and buloh oui u
the general fund for the notes redeefheu-
-ede-ontiors which amounted 10 S-4oS'oeo loi '''
var do not indicate any preference for god over
Taper but simply the desire for large dthoiili"
tions which are most conveniently suppheo HI 80
certificates After making certain dedac'ohS i'i
items not available in general payments the iie
cash was Sl56sll 664 which was distributed among
the ten Offices o9 the Treasury and the t"ei'e Oh
foes Of the mint including s10 1898 In the national
hank derositaries the first quarter OF lSu- 'he
5eT,osite IN national banks increased S9'as9 "iie
the available cash balance was reduced S6SS'-44-
AMOUNT OF BOND PURCHASES
The issue of per cent consols OF 1880 in exchange
for the loans maturing in 1894. 1896 and lSls was
continued up to December 81. 1890 by which time
the total amount ot the principal converted reach
s4s5 $40 80 These transactions involved the pay
rent OF SIS s09 COZ In money On April !, under lhe
order of the Secretary Of the Treasury, the pur-
chase of bonds Of same loans. at a price com
puted 1726 Per cent, was begun Up 10
June 80 the purchases amounted TO sli%9s'9" OF
principal al a total cost of sl6257,928 BY this
process and under notice Of the Secretary OF tle
Treasury or September 70 inviting offers 10 sell TO
the government se0eta0c bonds, including the loan
sF 1926 purchases carried up to Sioi4'SSo, al
an aggregate cost Of $40 43s. OF the funded loan
of 1881 on which interest ceased August is. 1850.
bonds Of The face value of S2 go redeemed
IN the year leaving s27460 outstanding. and in the
fiscal year payments reduced the balance 10
sl2.500 Although the aggregate Of the debt mas
been slightly increased. this due TO the en-
iarged issue of gold silver certificates On
October all but .l3.,95o Of the new per cent
bends held by the Treasury for national banks
security for circulating notes and public de-
posits.
The monetary stock Of the country increased in
the year upward OF SSso0ooo in gold. So 100000 in
silver coin and nearly 100000 in notes and Ger
tfhcates. The circulation per capita was S26 90 on
July 1900. s28 July 1901 and SIS % on October
J. 1901 Up the last date from July l. 1897. there
increase of 1865 045S in the stock Of golG
which then estimated S1,l6o553.7@o. and OF
this sS0s 71S.456 in circulation in the form OF
coin or certificates.
TREASURY'S STOCK OF GOLD.
BY October s. the gold in the Treasury. consist
tng OF the reserve the security for certificates and
the sum in the general fund. was S5i2.s22Si9. the
highest in the history OF the country and more than
ever held under single control elsewhere in the
world. except once for few months The receipts
il New-York for customs are nearly all in gold
certificates. and balances between the Clearing
House the Sub-Treasury settled almost en-
tirely in the same medium.
To the extent that gold certificates. which OF
the denominations Of so and upward have taken
the place of other large paper # has been possible
supply small notes and certificates much more
freely than formerly. It IS reasonable TO believe
that s;4oeeOGoe Of paper will, by influences now
At work be changed from denominations above SO
70 that size or smaller. that the annoyances
which have heretofore arisen annually from the
overwhelming demand for small notes may be eN-
pec,ed to diminish. On October the total amount
~ SO and undtr was SS50i2ls21 The increase in
those denominations in the last four fiscal years
ArranC,euerrs are completed. subject TO generous
action by consress for putting cut notes ana ceT
iat2 at the rate Of 135.ooo,@to pieces annually
REDEMPTION OF NATIONAL BANK NOTES
The redemptions of national bank notes We're the
heaviest in twenty-two years. amounting 10 sii',-
sSts s77 an increase of S50,o3a1o over 1900 The
amount Of notes lit Cor circulation assorted and
returned TO banks of issue was S,9.6'i 10 the
largest since 1872. Notes unfit for use amounting
10 s.1 432 - were delivered to the Controller Of
The Currency Tor destruction and reissue, and SlS-
tes 4a7 OF the notes Of banks whose circulation Is
oihs f, tI 5o,ihs OF The fiscal year 1902
N5b,Jt4 ,oSl were presented
for redemption. an increase OF '-'so ohei tl.e
same months y 1:p1. The redeemed notes amount
ed So 81 s92- OF fresh cash deposits OF So
fG SO for the retirement OF natlonal pank notes
81 s.5. used for that purpose ana the result
was an increase IN Ihe ; baI%roe 70 me h5 u 81 %
ter1per 80 TO s2a. 80 All notes are paid for IL
checks are requested the day on which they
are received and il crrenc! : desired on the sue
the Treasury amounted for the year TO SIS'3e -
ana N. amount outstanding in December was
f7v Julv in consequence OF the return of the coins
TO Washington. The shipments were otH per cent
crease in the first quarter Of 1877 over that or
1aol standard dollars were given for gold New
Orleans 10 help the crops TO the amount of
s. ubo and for deposits in NeH-lo they were
snlleu 20 .raeaa,5Iad AZ rte Tres siIrv in
Washington for exchange were 81 per cent. In
excess Of such transactions in the preceding year
The shipments Of subsidiary silver coins were
6ss pei cent in excess OF those OF 1863 and the
amount circulation increased $Sioas50 The ship
rnents in the first three months OF 1862 recorded d
further increase OF GO per cent The redenptions
1901 49, per cent more than the year before
Jut in later months there was a failing off
The Gncurrent coins transferred TO the nints for
recoinage less in an kinds than III the preced-
ing year which probably Indicates an Improvement
in the condition OF the metallic circulation Coun-
IerfeiJ silver coins ana paper currency amounting
20 s1l.5S5 We're detected in the year
Porte Ric3n coins representing 2os+.9'. pesos in
under the authorizing act into e22o in United
such small proportions to indicate that few of
the old coins remain IN circulation Up to July q