Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1902-11-11
BIG CASH BALANCE.
REPORT OF UNITED STATES
TREASURER ROBERTS.
Revenue Receipts Fall Of, While Gus
toms Are Large Total from All
Sources for Year Is sI,O62, I24 ,o37.
and Disbursements 5000, O27 ,o4I.

Ellis ii. Roberts. treasurer of the Unit
sd States, in his annual report. says the
magnitude of the avail Vie cash 0al1nce
and the unprecedented holdings of gross
gold are the striking features of the com
ditioa of the treasury at the close of the
fiscal year 1902. The net ordinary reve-
nues for the year were $780,. AS 33, and
the expenditures S471. 100, S57. showing q
surplus of $91, 2S7,376 In comparison,
with the previous year there was de-
crease of $50, 207, 104 in revenues and of
$3S, 776, 495 in expenditures While there
was an increase of SO. s59. 252 in the re-
ceipts from customs, the internal reve-
nues, owing to repeal of war taxes, fell
off S35.300.541
The total receipts of the year from all
sources. including the public debt. were
1868. 627 ,041. Uni I States notes and
the amount of ST. 49,. $50 of the former
and 81 .274. $50 of the latter without any
impairment Of the gold reserve of S150,-
10000
Bonds Of the face value of $56,01 $50
were purchased during the fiscal year for
the sinking fund.- Mt total cost of $780,
410. go. In September purchases were
made of $4,000 bonds of the loan of 1904
at 1O5, and in October 4 per cents of
1925 were bought to the amount OF S15,-
6Io,2JO for principal, involving the pay
ment of $21. 695.310.
The interest due Oct. 1. 1901, amount
ing to S4,712. 100, was anticipated Sept.
TO. That due Jan. /, 1902. for $4,000
$50. was anticipated Dec. l6. On Sept.
10, 1902. the. interest due Oct. ], S4.-
56l, 47S.75. was anticipated. and on Oct.
20 the interest due Nov. /, for 81, 323,
93S, was paid in advance During Oc-
tober interest to the amount of S3,31S,-
397 was paid in advance. with rebate
of $3S, AS under an offer of the secretary,
covering all bonds and their earnings up
to July ]. 1908
Decrease of Public Debt.
While the accounts of the public debt
on their face show an increase of $15,-
2S3 ,512. if allowance be made for the in
crease of So. 624, 400 in gold certificates,
the national obligations will be shown to
have been diminished by $42, 340S SS dur
ing the fiscal year.
The bonds held by the treasurer as
security for notes of national banks de-
creased S9.0SG.100 during the year, but
in the same time the securities held for
deposits We're $1S,953, 200 greater, so that
the increase in bonds held for both pur-
poses was $9,S72, 500. The bonds for cir
culation, which were on Oct /. 1901,
$3.50. 500, $50. fell to 1910, I54 $50 on June
4. 1902, rising to $317, 03S.530 on June
80. On Oct. they were $326, 023 ,270,
and on Nov. / 1888. 0S2, go. These
changes show measure of elasticity in
notes based on bonds.
To the general stock of money in the
country an addition of $50, 1S9,631 was
made daring the year. There was also
an increase of $40. 49, 900 in standard
dollars, and of $7,360,991 in subsidiary
silver.
The growth in the volume of money in
circulation during the year was $74.0S2.-
$50, carrying the per capita from 21.9S
to 2S43
The advance in circulation iii the vol
ume of gold. including certificates. with
in twelve years h. S433. 103,516 is the
measure of the greater strength of our
circulation. The increase in the future
can hardly be less than 0,000.0 900 to
$60000,0O0 a year.
The gold in the treasury keeps in ac-
tive circulation as currency the certifi-
Gates issued against it, and moreover,
$346, 6S1.01S in United Staotes notes
and $30.000,000 in treasury notes, or over
S140000,000 more than its own value.
The question may well be considered
whether the United States notes may not
properly be turned by Congress into gold
certificates. They have much that quail
ity already. and the change could he
gradually made as the supply of yellow
metal takes on greater proportions.
There was net increase during the
fiscal year of 36S banks. 437 charters hav-
ing been granted and sixty-nine surren-
dered. The total number of banks char
tered to June 80. 1902, was 6,325, of
which 4.546 were in operation and 1,179
cut of existence.
The amount of subsidiary coin cut
standing was increased by So. 114.Sa2 10
S., S14.9f0.