The Savannah morning news., 1901-12-05
Mr.. CAGES REPORT
GOVERNMENTS BIG REVENUES
FOR LAST FISCAL YEAR.
STRONG FINANCIAL SHOWING.
MORE GOLD HELD IN TREASURY
THAN WAS EVER KNOWN.

Surplus for the Year Nearly $751;
100000 with Prospective Surplus
for Present Year on Basis of Ex-
tstinE Laws of $1GO,OOO.OOO-In-
creased Use of Gold as Currency
md Smaller Denominations of
Paper Money Issued-Heavy Bal
ance of Trade in Our Favor-Re-
peal of All miscellaneous War
Taxes Recommended.
Washington, Dec. 4.-The annual re-
port of the Secretary of the Treasury
shows that the revenues of the govern
ment from all sources for the fiscal
.S year ending June go 1901, were $699. 9.316.-
b3O.92, while the total expenditures We're
s621, ,59S, ,546.54, leaving a surplus of ST.
717,9S4.3S. 1t is estimated that the rev.
enues for the current fiscal year, on
the basis of existing laws, will be $685.
693,0 ,042, with expenditures estimated at
$10O,G00,000 less.
The reserve fund and the trust fund
have been maintained. The redemp-
tions of United States notes have been
each day adjusted by exchange for
gold, so that the full sum of $3.50, 900 900
has been kept unchanged in coin and
bullion.
Upon the withdrawal of treasury
notes as the bullion of 1890 was coined
into standard dollars. silver certificates
under the act of March IA, 1900. were
substituted to the extent of $10,743,000
to July l, 1900, and s2S,244, 900 addition
al TO July /, 1901. BY Nov l, 1901, the
total exchange reached $45, 5,S36OOO. The
gold certificates upon deposit of the
metal We're Increased during the fiscal
year by s45,160,270. and in the first
quarter of 1902 by $31SO1, 430 additional.
The gross gold in the treasury, includ-
ing the reserve and the trust fund
against certificates, received an add-
tion of $71, 1,270, 325.74 during the fiscal
year, and further addition of $34, 304,-
225.50 by Oct l, while $1S. .697, ,327 more in
October brought the aggregate by Nov.
to $542, ,S31, ,S49. This sum in gold was
never before equaled in our annals,
and only for few months some years
ago has any other government ever
8 EeId so much of that precious metal.
Two features are marked in the cur
rency--hrst. the growing use of gold.
end, second, the constant addition to
the small denominations of paper. The
gold, including certificates, in circula-
tion which was 1873 per cent. of the
total circulation on July I, 1897. was
1915 per cent. on July l. 1900. 40.2 per
cent. on July j., 1901, and 40.S per cent
on Oct. 1, 1901. The average denomi-
nation of notes and certificates issued
by the treasury, which was S6. "a in the
fiscal year 1900, fell to 81. 46 in 1861
The number of pieces of government
paper issued rose from 1892, ,176. rep
resenting $495,545. 900. in 1900, to 81 POI, =
OBJ of which the face value was $4O7,-
102, 900. in 1901. In the first quarter of
1901, p, ,443, 469 pieces issued, represent
ing S100,S34000 while in the like period
OF 1902 the issues were 2e.603 799 of the
face value of $40, 10000, and the aver
age worth was $4.152.
National Banks.
During the fiscal year All banks. with
aggregate capital of S20,517, 900, were
organized; 81, with capital of $S,970 900,
placed in voluntary liquidation. and u,
with capital of $1,S60, 000 placed in
charge of receivers. Subsequent to the
close of the year one of the twelve as
sociations was placed in a solvent. con-
dition and permitted to resume. The
authorized capital stock of the banks
IN existence on June 80, 1900, was S62L-
5O9,O95. In addition to the capital of
banks organized during the year. old
associations increased their stock to
the extent of S12,921,S00 The national
bank capital stock account was reduc-
ed during the year to the extent of
Sl3,215,200, of which s2,7S0.200 represent
ed reduction of the stock of existing
banks and $10.495, 900 the closing of
capital stocks accounts of banks in
voluntary liquidation and in charge of
receivers. These changes resulted in
a net increase during the year of S62
banks and $40, 1863, 800 capital stock.
Banks with capital of $4,000 or over
TO the number of 1873 were organized,
their aggregate capital being $1S,19O,OOo
Geographically, the Middle states lead
In number and capital of new associa-
tions, namely. 129 and ,655,OOO, re-
spectvely. There were organized in
the Southern states 116 banks, with
capital of $5,10S000. The greatest num-
ber of banks (67), with the largest
amount of aggregate capital (S2,6OS,-
OOO. were organized in the state of
Texas. Pennsylvania is second in the
list, with 40 banks and capital of $2.-
2p1,O00. The operation since the pas
sage of the act of March A. 1900. to
Oct. 81. 1901, resulted in the organiza-
tion OF 742 associations. with aggre-
gate capital of $50 500. and 81 ,025,-
$50 in bonds deposited thereby as Sc
curity for circulation.
Foreign Commerce.
The foreign commerce in merchan-
disc for the fiscal year 1901 showed a
decrease of $26, 1853, ,019 in imports and an
increase of $93, ,2S1 ,9O9 in exports when
compared with the preceding year.
Comparing the figures of 1901 with
those of 1891, there is a decrease of
S21,744051 in imports and an increase
OF $603,2S4,1s1 in exports. The imports
OF the year 1901 were sS23,172. 165 and
the exports 81. .4S7, ,764, ,991, making the
excess of exports over imports s664,
b92,S26. Both the total exports and the
excess of exports over imports were
greater In 1901 than in any preceding
year in the history of our commerce.
A comparison OF the commerce of the
year with that of other countries shows
that our exports of domestic merchan-
disc in 1901 exceeded those of any other
nation. The exports of domestic mer-
chandise of the year ended June 30.
1901, amounted TO $1460, ,462 ,S06. against
1889 997 from the United Kingdom.
sl,0sS, $4,000 from Germany, and $685.
$4,000 from France.
Immigration.
The annual report Of the Commits
sioner General Of immigration for the
hseal year ended June 30, 1901, shows
that the total arrivals OF aliens aggre-
rated 562, 2,s6s. OF that number, 4S7 .9is
wera steerage and 7l,9 $50 FIRST and sec
-