The times. [volume] (Richmond, Va.) 1890-1903, 1901-12-05
ANNUAL REPORT
OF US. TREASURER
Country Has Good Surplus on Its
Hands Foreign Exports Greater
Than Ever.
Fhan Ever.
(By Associated Press.)

WASHINGTON, D. c., December A.
Secretary. of the Treasury Gage i!as sub
mitted his annual report. It shows that
the receipts OF the Government from all
sources for the fiscal year ending June
60 1901, were $685.. 3l6. $50. 90. and the ea-s
penditr9res during the same period were
SCI, SOS oa6.5i. leaving a surplus of Si,l.,-
sS4sS Compared with the fiscal year
1900 the receipts Increased s29.l2l,os9- 81
There was an increase In expenditures
of S22,-u,, 561. II. The estimated revenues
for 1902 are s6Ss. 6S3, 0f2O0 The estmated
expenditures are s5ss 633. 0420 leaving
surplus at the close OF the fiscal year
of 1909 OF 500. 0-oGOo.G0. The estimated reve-
nues for 1903 are s112, 020 5000. and the
estimated expeudi- ures, s6Ss, SIS 5 IA ieav-
ing an estimated surplus tor that year
of s23, IL. 311.53
Under head of Operations OF the Treas
ury" Mr.. Gage says:
The reserve fund and the trust fund
have been maintained. The rederantions
of the United States notes have been each
day adjusted by exchange for gold. so
that the full sum of sia0.oG0.GGo has been
kept unchanged in coin and bullion. wklIs
the circulation per capita was s2Soo on
July I, 1900 and SIS 50 on October l. 90l-
Two features are marked In the cur
rency-first, the growing use OF gold. and.
second. the constant addition TO the small
denominations of@papsr. The gold, IN
Guiding certificates. in circulation. which
was ssS per cent of the total circulation
on July !. 1857, was 395 per cent In July
/. 1900, 4l2 per cent on July /. 1901. ana
40.s per cent. on October 1. 1901. Thu
average denomination OF notes and GER
tiffcates issued by the Treasury, which
was s6ss In the fiscal year LEGO. fell to
S4.4s in 1901.
NATIONAL BANKS.
During the fiscal year I'll banks. with
aggregate capital Of $50 $1,000. were or
eanized; 81, with capital of ss,97o.o11. piac-
ed in voluntary liquidatien, and Il. with
capital of s1.S6ocOo. placed In charge OF
receivers Subsequent to the close OF the
wear one of the twelve associations was
placed in a solvent condition and per.
mittetf to resume. The authorized capi-
tai stock OF the banks in existence on
June 60, 1900, was s6g1. 5as ,09o- In addf-
ton to the capital OF banks organized
during the year. old associations increas-
ed their stock to the extent of ST, 32l. SGa.
The nat;onaI-banh capitai-stocs account
was reduced during the year to the e1-
tent OF s1as.eas5.2Ga of which s.. $50. eco rep
resented reduction of the stock OF exist
ing banks and $40. $500 the closing OF
capitaI-stock accounts of banks in Vofun-
tary liquidation and In charge Of re-.
ceivers. These changes resulted In
net Increase during the year Of 3a2 banks
and 500, 163, 500 capital stock.
FOREIGN COMMERCE.
The foreign commerce In merchandise
for the fiscal years 1901 showed de-
crease OF s25, $50 0l9 In imports and an In
crease of 500 81 ,9o9 in exports when COM
pared with the preceding year Com
pairing the figures OF 1901 with those OF
1891, there IS decrease Of 81. ~. c2l In I'M
ports and an increase of Ssos, 2s4. ls1 In ex-
ports. Tho imports Of the year 1901 were
So. IT, los and the exports 81 ts..Tst.s gf.
making the excess OF exports OVER inn
ports 1854 500. so5. Both the total exports
and the excess OF exports over imports
were greater In 1901 than In anv preceding
year In the history of our commerce.