Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1902-11-04

enue, offset by falling off Of $Ss ,776,4e5 in !
expenditures. While there was an increase |
Of SIS, $685. 252 in receipts from customs, in |
ternal revenues, because Of the repeal Of
the war taxes, fell of s35 800, ,541. There |
was a decrease OF 1872, ,343, 4S1 in War depart |
nent expenditures, and an increase OF ST.
296,14s in the cost OF the navy.
The total receipts of the year from all
sources including the public debt, were
s ,062, 124O37. and the disbursements $685.
627, ,041. United States notes and treasury
notes were redeemed in gold to the amount
Of $17 ,4s2 $50 of the former and S1,274,590 Of
the latter without any impairment of the
gold reserve of $150,OOO,OOO.
Balance on Right side.
In the first quarter Of the fiscal year 1908
the diminution Of internal revenue con-
tinued in larger ratio from the effect of the
act repeating war taxes and reached s16,>
909,564. The total receipts were, however.
$59, 3O2.5O6 greater. Expenditures, on the
other hand increased by s19,s44151.
The net result is an excess Of receipts OF
S13,539,171.
The available cash balance in the treas
ury July 1, 1909, was the largest yet known.
1t amounted to 1852, 1877, ,361. The gold re-
$127, 100 O56 TO the credit of the treasurer
and disbursing officers. The subsidiary sill
yer, $11, ,462 553, and the minor coins, $919,-
404 could hardly be used for large payments
nor is the silver bullion to be reckoned for
such purposes.
With such deductions there remained in
the treasury on July / a little over $72,000,-
0O0 As $50, 600, 900 is deemed a fair work.
ing fund, about s22. 900 900 could be spared
By October 1 this excess became $25, 900 900
and justified measures to reduce it.. By
November l it was brought to a trihe over
81, 900 below the working fund.
Gold Coin increases.
Nearly one-half the available cash bal
ance on July l. was in gold coin and GER
tihcates, $1oS SO1. .2sO over and above the
gold reserve Of $50. 900. 900 and by October
l, it became s136 6,124.771.
BY October /, 1902. the available cash
balance exclusive of-the rerserveays% s32t.-.
253. S94, and owing to the large measures
for the relief of the money market 1t was
reduced by November 1 to S2O6 421 ,s79, or
this sum s146ss5, ,O12 was in the national
banks.
Bonds of the face value of $50, ,071, ,23O we're
purchased for the sinking fund at cost of
$40, ,410,230
In September. 1902. purchases were made
Of 900 1904 bonds at 105 and in Oc-
tober 1905 per cents were bought to the
amount of SIS, 5,675, ,25O, involving the pay
ment of S21, $685. $40, including premiums and
accrued interest.
The interest due October 1, 1901, amount
ing to $4,712,120 was anticipated on Sep
tember is. That due January l. 1902, for
A,63O.336 was anticipated on December l6.
On September 13, 1902, the interest due Oc-
tober 1, s4,561,47S, was anticipated and on
October 20, the interest due November /, for
$2,323,93S was paid in advance.
During October interest to the amount OF
$S31S,397 was paid in advance with a re-
bate of $3S,443, under an offer of the Sec
retary, covering all bonds and their earn
ings up to July 1, 1903. While the accounts
OF the public debt on their face show an
increase of SIS, ,253.352. IL allowance be made
for the increase of S57, ,624, 400 in gold GER
tifcates the national obligations will be
found to have diminished by $42,34O, ,sss.
Security Bonds Grow.
The bonds held by the treasurer as Sc
eurity for the notes Of the national banks
were $9,OsO,7OO less, but in the twelve
months the securities held for deposits in
the increase in bonds held for both pur-
poses was s9,S52,5OO, The banks with Sc
curities pledged for circulation on June 30
numbered 1853. making an addition of s7l
Those with pledges for public moneys de-
posted we're 577.
For more than 50 per cent OF the banks
the deposits for circulation are less than
500 000 and for nearly one third the bonds
fell below $4,000 each, and of these 1901
47s have bonds for no more than $40 900
each. This number increased 235
The bonds for circulation, which were. on
October l, 1901, $3.50 693 $50. fell to s315, =
$50 on June 4, 1902, rising TO Ss17, OBS, =
$50 on June 80. On October / they were
1925 ,O23,27O, and on November l, $685.
Os2 ,27O.
To the general stock of money in the
country an addition Of ssO,Is9, ,6s1 was made
during the year. of this s67, ,s55 ,527 was In
gold coin and bullion, $19, 1856 ,25s in stand
ard dollars and 81. 1860, ,991 in subsidiary sill
YER United States notes remained un-
changed. Treasury notes fell of sl7.7ss. .
600. National bank notes received an in
crement of 1851 ,5ss. The gold coin and
bullion October 1 exceeded all other kinds
OF money, excluding national bank notes.
by 5000, ,S6s 4SS. In five years the ratio of
gold In the country TO total circulation has
grown from S6.52 TO 46.45 per cent.
More Money CireuIates.
The growth in the volume OF money in
circulation during the year was s74.OS2. $50
carrying the per capita from 1888 10 2s.4S.
The element of gold coin and gold certih-
Gates was the largest part and the increase
reached SOL .966 .174. and advanced from 40 SO
per cent of the total TO 4l.7S per cent
In silver of all denominations, including
| certificates, there was an increase Of S25,-
22s, l46, Of which S6.4s6.Ol4 was in subsidiary
| coin. The reduction in treasury notes OF
| 1851 500 is due to their Withdrawal
The advance in the volume OF gold IN
circulation in the future can hardly be less
than $50 900 900 to SEQ. 900 900 a year
On June 27, gold certificates outstanding
| for the hrst time exceeded in volume
/ United States notes and were SS47 ,l7s Oss
/ BY November l they we're 1867 ,O7s .56s.
The report suggests that United States
\ notes might properly be turned by congress
| into gold certificates, as they already have
much that quality and the change could Be