The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-11-01

Annual Report OF r.. III. ROberts-Ez-
change of BOnds-GoId supply.

WASHINGTON. Oct. 3l--Ellis II. Rob
erts. 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 order, both In variety and
magnitude, resulted in noteworthy changes
H. the paper currency, we'll as a steady
and healthful growth Of gold in the treas
ury and in the general stock
The net ordinary revenues for the year
were $5S7, ,6S5, 1897. an increase OF s2o,444.iS5
over those of 1900. which were the next
highest recorded. The increase came from
each Of the heads Of resource. but chiefly
from internal revenue. On the side OF the
expenditures. the total OF s509. .967. .353 has
been exceeded only four times-in 1863, 1854,
1865 and 1899 The surplus OF S77.7l79A was
slightly under two million dollars less
than in 1900. Inclusive of the transactions
affecting the public debt the aggregate
receipts were $1,146 4S9. SO6. and the aggre-
gate disbursements. NOIIO65.O0Z
For the first quarter OF 1907 although the
act of March 2. 1901, was operative, reouc-
ing the revenue, the receipts were only
s3.4i7,960 less than for the IKE period or
months were reduced by almost exactly
The reserve of S15O.OOO 900 in gold required
by the financial law Of 1900 has been kept
intact by the daily substitution or gold
coin and bullion out OF the general fund Ior
the notes redeemed. These redempuOns,
which amounted TO S246s7. SOS for the year.
do not indicate any preference Tor gOld over
paper but simply the desire for large de-
nominations, which are most conveniently
SUPPLIED in gold certificates. After making
certain deductions for items not aVailahls
in general payments the Tree cash was Sl5o,-
gll 664 which was distributed among the
Ten Offices Of the treasury and the twelve
Offices Of the mint including Sl0l ,f6,5l5 In
the national bank Repositories In the first
quarter OF 1902 the deposits I'm national
banks increased S7091. .fS5. while the avail
able cash balance was reduced by S5.9l3.2ii.
The issue OF . per cent. cOusOls OF 1880 In
exchange for the loans maturing In 1904.
1907 and lgJS was continued These transac-
tions involved the payment OF an aggregate
sum OF S45. 40g 6J9 ~ money. On April ] was
begun under the order OF the secretary or
the treasury the purchase of bonds OF the
same loans at a price computed 20 earn
J. 726 per cent Up 10 June 81 the purchases
amounted 10 81. $50 so OF principal at total
cost OF Sic Z57. .g2S. By this process and un-
der "A notice Of the secretary OF the treas
ury Sept. 10 inviting offerings 20 sell 10 The
government s20000.000 OF bonds. including
the loan Of 1925. purchases were carried up
TO $40 44s $40 at an aggregate cost OF So
f3S 43G OF the funded lo2n OF 1871. on which
interest ceased Aug Is 1870. bonds OF The
face value OF 81. .705 30 were redeemed dur
ing the year leaving a balance OF f2l4 60
outstanding and IN the new fiscal wear pay
ments reduced the balance 10 Sl2.J0. Al
though the average or the debt has been
slightly increased the swelling Of the figures
was due 10 the enlarged issue OF gold and
silver certificates. ON oct I an bur ti6-
l3i g50 OF the new per cent. bonds Was
held boy the treasury for national hanks
security for circulating notes and public
The monetary stock OF the country -
ceived during the year an increase OF up-