Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1901-11-09
CONDITION OF THE
NATIONS TREASURY
Was Never in Better Shape
Than Now, Says Treas
urer Roberts.
A BIG GAIN IN REVENUE
Increase Comes Mainly From In
ternai Taxes-An Increase OF
St41,ooo,o 900 in the Country's
Monetary Stock.

washington, NOV. -Hon ellis IL.
Roberts, 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 hat period. The
operations, which were OF the first or
der both in variety and magnitude, re.
suited in noteworthy changes in the
paper currency. as well as a steady and
healthful growth or gold in the treas
ury and in the general stock.
The net ordinary revenues for the
year were S5S7, 6S5, 1897. ar increase OF
$50, 444, ASS over those OF 1900, which were
the next highest recorded. The in
crease came from each of the heads of
resource, but chiefly from internal rev.
u On the side of the expenditures
the total Of $5O9, 967, 1853 has been ex-
ceedcd only fou times-in 1868, 1854,
1865 and 1893. The surplus OF S77, M, 1854
was slightly under 81, 000, 900 less than
in 1900. Inclusive of the transactions
affecting the public debt the aggregate
receipts were 81 lac, 4S9, 800. and the ag-
gregate disbursements 81, 077, 063, 052.
The reserve of $3.50, coo, 900 in gold re-
CURED by the financial law OF 1900 has
been kept intact by the daily substitu-
ton OF gold coin n bullion out of the
general fund for the notes redeemed.
These redemptions amounted to $24,-
COZ, sos for the year.
After making certain deductions for
items not available in general pay
ments, the free cash was $156, oil ,664.
The issue of 2 per cent consols of 1880
in exchange for the loans maturing in
1904, 1907 and 1908 was continued up to
December 81, 1900, by which time the
total amount of the principal converted
reached $445, $40, $50. These transactions
involved the payment OF al aggregate
sum of $45, 409, COZ In money. ON April
/ was begun, under the order of the
secretary of the treasury, the purchase
Of bonds of the same loans, at q price
computed to earn 1925 per cent. Up TO
June 30 the purchases amounted TO
$l4. 1853, $40 of principal, at a total cost
Of SIC, 257, 1923. BY this process and I'M
der a notice OF the secretary of the
treasury September 10, inviting offers
to sell to the government $40, 600, 900 Of
bonds, including the loan of 1925, pur-
chases were carried up to $40, All, 800,
at an aggregate cost OF $40, 438, 436. Oh
the funded loan OF 1891, on which the
interest ceased August Is, 1900, bonds
Of the face value of $21, 705, $50 were re-
deemed during the year, leaving " Dal-
unce of $274, 500 outstanding, and Al the
new fiscal year payments reduced the
balance to $12, 500. Although the ag-
elSBdlo VI llt dCDl mas bISll 6l
increased, the swelling OF the figures
vas due TO the enlarged issue Of gold
and silver certificates. On October l
all but SAC, 1874, $50 of the new 2 per cent
bonds were held by the treasury for
rational banks as security for circu-
lating notes and public deposits.
The monetary stock of the country
received during the year an increase Of
upwards OF $SS, 000, 900 in gold, $37, 000, 900
in silver coin and nearly SIC, 900, 900 In
notes and certificates.
The circulation per capita was S26 &c
July /, 1900, $2S July l, 1901, and $2S SO
October /, 1901. Up to the last date
from July !, 1897, there was an increase
of S463, 1870, ass in the stock OF gold, which
was then estimated at 81, l60, 1853, 790, and
of this there was $90S, 718, 436 in circula-
ton 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 gen
eral fund, was $542, S22, $40, the highest
I'm the history of the country and more
than was ever held under single o II
troll in the world except once for a few
months.
On October 1 the total amount of out.
standing paper money of the denomin-
aticns Of $40 and under were $3.50, 12l, 921.
The Increase in those denominations in
the last four fiscal years was upwards
Of $166, 900, 600.
Arrangements are completed, subject
TO generous action Of congress, for put
ting out notes and certificates with the
beginning of the calendar year 1902, at
the rate of 1876, 600, 900 pieces annually.
1t Is hoped that thus the currency
will be we'll seasoned before 1t is is
sued.
MI III a~tfAa - f1A nn4tAna1 - -,
notes was the heaviest in twenty-five
years, amounting to $147. 4S6, 577, an in
crease of $50, 503, $40 Over 1900.
The shipments Of standard silver dol.
lars from the treasury amounted for
the year to $38, 1913, $40, and the amount
outstanding in December was SIC, 1872, :
1926, out his was reduced by nearly &c.
600, 900 by July, in consequence Of the
return Of the coins to Washington.
The shipments were 5.66 per cent great
er in 1901 than IN 1900.
The standard dollars presented at
the treasury In Washington for ex-
change were 81 per cent in excess of
such transactions in the preceding
rear.
The shipments of subsidiary silver
coins We're 8.94 per CEN in excess of
those of 1900, and the amount In circu-
lation advanced SO, 405, $50. The redemp-
lions in 1901 were 1875 per cent more
han the yea before.
Porto Rican coins representing g.
$685. 77 pesos in silver and 34,122 in
bronze have been exchanged under the
authorization act into So, 440, 220 in the
United States currency. The exchanges
have now fallen to such small proper
lions as to indicate hat but few OF
the old coins remain in circulation.
Ginnn Iu1U 1000 tho nrinninaI lp-
debtedness of the Central Pacific rail.
0 a company has been reduced in the
sum Of 81, 739. 974 by cash payment and
transportation furnished. The balance
of the principal remaining unpaid al
the date Of the last transaction was
$39, 1863, 562, secured by first mortgage
bonds for 500, $40, 900 as collateral.