The suburban citizen., 1902-07-05
U. S. TREASURY
FLOODED WITH MONEY
Available Cash Balance Is Larger than
Ever Before.
TOTAL RECEIPTS FOR THE YEAR.
The Additional Repeal Of War Taxes Is Estl'
mated TO Reduce the Gross Income From
Internal Revenue by About S7SOOO,OOO In
the Next Twelve Months-Probable De.
crease Ia Expenditures Of Government

Washington, D. c. Especially AT the
end of the fiscal year which closed at
midnight the available cash balance in
the United States Treasury is larger
than ever before in the history of the
Government. 1t stands at sos 65oo22.
The excess of receipts over expenditures
for the wear is also very large the
Treasury surplus of $o2, Io33oo being
larger than in any year since 1888, and
exceeded in only 10 years since the
foundation of the Government In
nearly every one of these 10 years the
revenues of the Government had been
swelled by extraordinary taxation to
meet the expenditures of a past war
period. AT this time, also, the general
fund in the Treasury is enormously
larger than ever before, the amount be-
ing more than $28o,ooo,ooo as against
about SIs8,oooooo one year ago.
The United States Government now
has a stock of gold in the Treasury be-
lieved to be larger than any similar stock
anywhere in the world. The amount OF
gold coin, bullion, and certificates in the
Treasury is $6o8, 8,I73,4T2. Added to this
is gold in circulation throughout the
country which raises the total amount
TO not less than ST. 200, 100000.
Aside from the great increases in the
available cash balance the Treasury sur
plus and the stock of gold, the notable
things in the condition of the Treasury
are that since year ago the amount OF
national-bank currency in the Treasury
has increased by nearly $2,ooo,ooo; the
amount of standard silver dollars, silver
certificates, bullion and subsidiary silver
coin from about $32,ooo,ooo to about
$50, 900 900, and the Government funds
in national-ban repositories from SIoI,-
100000 to $I27ooo,ooo.
1t was estimated early in 1901, at the
lime the measure for repeating the war
axes was under consideration by the
Senate Finance Committee, that the pro-
POSED amendments would cause falling
)ff in internal revenue receipts during
he fiscal year of not less than $40, ,ooo,-
100. The prosperity OF business has been
such, however, that the reduction in in
ernal revenue receipts for the fiscal
iear has been only little more than
S34,ooooco The total receipts of the
Government from all sources during the
asst year were S563,Aos,I87. OF these
S2s4,456,o27 were from customs, an in
.rease OF nearly $I6,ooo,ooo over the
-ecord of the year before; $272, 2,so3, ,2I4,
rom internal revenue and $36,445, ,o46
rom miscellaneous sources.
The Treasury officials believe that the
outlook for the new fiscal year, which
ust began, is entirely hopeful The
additional repeal OF war taxes is
estimated to reduce the gross income
from internal revenue by about $75,ooo-
700 in the next IL months, but on the
basis of this years receipts and ex-
penditures there would still be a SUR
plus on June 80 next of at least $I7-
10000. AS a matter of fact. the COM
ing years surplus will probably be much
larger than that this expectation being
based upon the continued increasing
prosperity of the country and the prob
able decrease in expenditures in several
departments of the Government.