The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1902-07-16
THE COUNTRY'S FINANCES
Treasury Surplus Larger Than id
Any Year Since 1888.
A DECREASE IN EXPENDITURES
Available Cash Balance Stands 1t $685.
630.o2a. Larger Than Ever Before In
the History Of tho Govsrnmsnt-stoek
Of Gold. ssOs, ,l53,Il2, Bigger Than
That Of Auv Country In tho World.

the History Of tho Government-Stoek
Of Gold. ss0s,I73,l1s. Bigger Than
That Of Any Country In the World.
Washington. D. Cat the end Of the
fiscal year the available cash balance
in the United States Treasury Is larger
than ever before In the history Of the
Government. 1t stands at SOS. .630. .U22.
The excess Of receipts over expeEdh
lures for the year Is also very large.
the Treasury surplus of SOC. .l93.390
being larger than In any year since
1888. and exceeded In only ten years
since the foundation Of the Govern.
ment. In nearly every one Of these
ten years the revenues OF the Govern.
ment had been swelled by extraords
nary taxation to meet the expenditures
of q past war period. At this time,
also. the general fund In the Treasury
Is enormously larger than ever before.
the amount being more than .UO0.I
600. as against about S1GS, 100000 one
year ago.
The United States Government now
has stock of geld in the Treasury be.
lieved TO be larger than any similar
stock anywhere In the world. The
amount Of gold coin, bullion and certif.
Gates In the Treasury Is $60S. 16s.412
Added TO this Is gold In circulation
throughout the country which raises
the total amount to not less than ST..
2OO.OOO.O00.
Aside from the great increases In the
available cash balance. the Treasury
surplus end the stock Of gold, the nota.
bic things in the condition Of the Treas
ury to-day are that since year ago
the amount Of national bank currefcy
In the Treasury has increased by near.
" S2.OO0.O0O; the amount OF standard
silver dollars, silver certificates, bullion
and subsidiary silver coin from about
Sc. .OOO. 900 to about $29, ,000. 600, and the
Government funds in national hank
repositories from S101, ,OO0.0 600 to Sl27..
100000.
1t was estimated early In 1901. at the
time the measure for repeating the wal
taxes was under consideration by The
Senate Finance Committee. that the
proposed amendments would cause o
falling OF In internal revenue receipts
during the fiscal year Of not less than
$40,0O0.00O. The prosperity Of business
has been such. however, that the re-
duction in internal revenue receipts for
the fiscal year has been only q little
more than $S4. 100000. The total re.
ceipts OF the Government from all
sources during the last year were
Sj63, ,4O5, ,1S7. OF these $254. .3J6.321
were from customs. an increase Of
nearly $16.000.000 over the record Of
the year before; $212, ,503.214 from in
ternal revenue, and $50. .445,04G from
miscellaneous sources.
The increased surplus for the year
was due. however, not so much 10 In.
creased revenues as to decreased ex.
penditures. the total disbursements
being SAT- ,211.7 .797. as against $780,
967- 1853 last year. Owing to the practi.
cal cessation Of fighting In the Philip
pines and the consequent less expen-
sive administration Of the War De-
partment. the military establishment
called for an expenditure OF only about
Sl12, ,0O0.O 900 during the last fscnl year,
as against about $145,0O0.O00 In the
fiscal year Of 1901. The Navy Depart.
ment. on the other hand. cost about
$5.OOO.OOO more this year than last. but
the payments on account Of interest on
the national debt were about S4.000.O00
less. and on account Of pensions about
$2OO0.0OO less during the last year.
The Treasury officials believe that
tbo outlook for the new fiscal year 10
entirely hopeful. The additional re-
peal Of war taxes. which took effect
July !. IL estimated to reduce the gross
income from internal revenue by about
$4,000. 900 In the next twelve months,
but on the basis of this years receipts
and expenditures there would still be q
surplus on June 80 next Of at least
s11 600 600