Waterbury Democrat., 1902-11-04
A BIG Cash BALANCE
Excellent Condition of Gov
eminent Finances Shown.
AVAILABLE SURPLUS OF S2O6, 421,S79
This, In Addition to Unusually Large
Gold Reserve, Is the Striking
Feature of Treasures Rob
orts, Reuor.t

This, In Addition to unusually Large
Gold Reserve, Is the Striking
Feature of Treasurer Rob-
erts' Report.
WASHINGTON, Nov. 4.-Ellis FL.
Roberts, treasurer Of the United States.
In opening his annual report says that
the magnitude of the available cash
balance and the unprecedented hold
ings of gross gold are the striking fea-
lures of the condition of the treasury
at the close of the fiscal year 1902 The
net ordinary revenues for the year
were $562,47S,233 and the expendi-
lures $471, 190, 857, showing a surplus
Of $91, 1881, 376.
In comparison with the previous
year there was decrease of $50, 2O7,-
104 in the revenues. offset by falling
off of $3S, TIC, 495 in the expenditures.
While there was an increase of $15,-
S59,252 in the receipts from customs,
the internal revenues, under the opera
ton of new laws repeating the war
taxes, fell of $50, 300,541. There was
a decrease of $50, $40, 4S1 in expendi-
lures on account of the war depart
ment and an increase of 1926, 149 in
the cost of the navy. The total re-
ceipts Of the year from all sources, in
Guiding the public debt, We're $1,062,-
124,03 and the disbursements $685.
627,041. United States notes and treas
ury notes were redeemed in gold to
the amount Of ST., 1852, $50 Of the for
mer and $1,274, $50 Of the latter, with
out any Impairment Of the gold reserve
of $150,O0OO0O.
The available cash balance in the
treasury July /, 1902, was the largest
net balance in our history. 1t amount
ed to 1862, 1S7. 1861. The gold reserve
is counted in, as it is available for the
redemption Of legal tender notes
Nearly one-half Of the available cash
balance of July / was in gold coin and
certificates, sos, 8o1,29O over and
above the gold reserve Of $4,000, 900,
and by Oct. it became $136, PATTI.
AS measure of the financial strength
Of the government the report says the
fact deserves mention.
By Oct /, 1902, the available cash
balance, exclusive of the reserve, was
$221, 253,3 94, and owing to the large
measures for the relief Of the money
market it was reduced by Nov. / to
$2O6, 421, SO. OF this sum SAC, 8S5,O12
was in national banks Bonds Of the
face value Of $56071, 23O were pur-
chased during the fiscal year for the
sinking fund at total cost of SO, no.
230 for principaL premium and ac-
crued interest.
While the accounts Of the public debt
on their face show an increase of $15,-
2S3,512 in the total Of the debt, if al
loWance be made for the Increase of
$57, 1924, 400 in gold certificates the ma
tional obligations will be shown to
have been diminished by $42, 3408SS
during the fiscal year
There was net increase during the
fiscal year Of 1853 banks, 437 charters
having been granted and 60 surren-
dered The total number of banks char
tered to June 80, 1902, was 6,325, of
which 1916 were in operation and
Ito out of existence.
There was unusual activity in the
movement of silver and minor coin to
and from the treasury. The shipments
of silver dollars reached $40,4O4 325,
exceeding all former records, and the
returns for exchange were $2,71O,690
greater than tho issues.
Fl