Alma record. (Alma, Mich.) 1878-1928, 1901-11-08

InG treasury WAS never 1900
the close of that period. The operations
of the first order, both In variety and mag
nitude, resulted in noteworthy changes IN
the paper currency, as we'll as STEADY ana
healthful growth of gold In the treasury
and in the general stock.
Receipts and Disbursements.
The net ordinary revenues were S7.6S5,-
337, an increase of $40, Az 4S5 over those OF
1900 the next highest recorded. Inc IN
crease came chiefly from internal reVehue
On the side of the expenditures the total
of $500 967, 1853 has been exceeded only 1our
times in 1863. 1864 1866 and 1899. The sur
plus of s77,7l7. 1854 was slightly under 5000
900 less than In 1900.
Inclusive OF the transactions Affecting
the public debt the aggregate receipts
were 81. lac, BOG and the aggregate dis
bursements 81, or. 063052.
The Gold Reserve.
The reserve of $50 900, 900 in gold re-
ouired by the financial law OF 1900 has
been kept intact by the daily substitution
of gold coin and bullion out OF the general
fund for the notes redeemed. These re-
demptions amounted TO S24. 6H .sS for the
year. After making deductions FOR Items
not available in general payments the
free cash was 1856, GIL .664 which was distrib-
uted among the ten offices OF the treasury
and the 10 offices Of the mint, including
SOL 416. 973 in the national bank repositories
Country's Monetary stock
The monetary stock OF the country re-
ceived during the year an increase OF up
ward OF SIS 900 900 in gold G.OO,UO In sill
yer coin and nearly $3.50 600 In notes and
certificates The circulation per capita
was $3.50 July l. 1900: SIS July 1, 1901, and
$3.50 October l. 1901. Up TO the last date
from July /, 1897 there was an Increase OF
1853 100. 45S in the stock OF gold. which was
then estimated at 81 leo, $50. 1eo and OF this
there was S90S, us, 436 In circulation In the
form of coin or certificates. BY October 81
the gold in the treasury. consisting OF the
reserve. the security for certificates and the
sum in the general fund, was $S42 81. Ss.
the highest in the history OF the country.
Small Note Circulation.
To the extent that gold certificates. which
are of the denominations SO and upward.
have taken the place of'other large paper.
II has been possible to supply small notes
and certificates much more freely than
formerly IL is reasonable TO believe that
over $40 900. 900 OF paper Will by influences
now at work be changed from denomina-
lions above ten dollars to that size or
smaller. so that the annoyances which have
arisen annually from the overwhelming
demand for small notes may be expected
TO diminish. On October the total amount
OF outstanding paper money OF the de-
nominations OF ten dollars and under was
$500, l2l. 92l.
The redemptions of national bank notes
were the heaviest in 22 years, amounting
10 Sl47, 4S6.577. an increase of $50 5o3.970 over
1900
Standard silver Dollars.
The shipments of standard silver dollars
from the treasury amounted for the year
to 33S. 338. 5i9, and the amount outstanding
I'm December was $40, 1872, 326, but this was
reduced nearly sl0,OoOco by July In con-
sequence of the return OF the coins TO
Washington. The shipments were SIS
per cent. greater in 1901 than In 1900.
The shipments of subsidiary silver coins
were 694 per cent. in excess OF those Of
1900 and the amount in circulation advanced
s., 4G5, $50.
eti,.ax 49,.