The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-04

Total ......... ................... $40, 249. $50. IA
Compared with the fiscal year 1901, the re-
ceiptS for 1902 decreased $14, $50, $50. 40, and
there was a decrease of $3S. 776, 1851 in ex-
penditures. The revenues of the current fis-
cal year are estimated at 1854, 00, $50, and
the expenditures for the same period. ss51.-
= 1850, leaving a surplus of S43. 900. 900. The
revenues of the fiscal year 1904 are esti-
mated at 1929, 367, 664. The estimates of APP
preparations for the same period are. ex-
elusive of sinking fund, 1861, $50, ZIG, leaving
an estimated surplus of $51. SlO.SS7.
TREASURY OPERATIONS.
Concerning the operations of the treasury,
the report says:
"The treasurer of the United States, in his
annual report distinguishes, as the striking
features of the condition of the treasury,
the magnitude of the available cash bal
ance and the Unprecedented holdings of
gold. Among the notable events of the last
fiscal year are the diminution of revenues
due to the repeal of war taxes; the reduc-
ton of expenditures, and the changes in
the composition of the paper currency.
United States notes and treasury notes
were redeemed in gold to the amount of ST.
1880 OF the former and sl.27i, $50 of the
latter. without any impairment of the gold
reserve of $l50,OO0.00.
1.-The increase of the available cash bal
ance was 1913. 7S0.5 e3. bringing the total on
June 80 TO $212, ISL, 1861. BY Oct. 1. 1902. the
total increased to s221, 25S. 1874. but was re-
duced by Nov. 1 to s2O6, 421. s7s. 80. Inclusive
of the gold reserve. the available balance
on June 80 was 1862 .1S7. 36i, the largest i'm the
history of the department. for while these
figures are exceeded by the records of 1879.
the latter included in the account the funds
held temporarily against called bonds. After
allowing for subsidiary silver. silver bull
lion and minor coin not available for large
payments, there remained in the treasury
vaults Nov. | a fund of over CSC. O0 600
which is slightly in excess of what is
deemed a fair working balance. Nearly half
OF the net available cash balance, over and
above the reserve of $50. 00. 600. was I'm gold
and gold certificates. which amounted 10
$l03. sol, go. and increased by Nov. | TO sl13..
5i2.9S3. a sum far exceeding the outstanding
liabilities.
THE first quarter of the new fiscal year
was marked by an increase i'm customs. off.
setting the reduction by the new statutes
in internal revenue. Both the receipts and
the expenditures were In excess of the
corresponding months i'm the wear preced,
ing. On Nov. i a surplus of $l3, 296, 49I was
shown for the current fiscal year.
I'm the total amounts of bonds held 70,
national banks as security for circulating
notes. the most significant changes were :
reduction of nearly Sl4.000 900 between Octo,
Der and June. and an increase of nearl,
100000 between June and October. or
June 80 all OF the 2 per cent. consols were
on deposit in the treasury, with the excep.
ton OF $40. 39i. $50. and by Nov. / all bni
S35. LOG. 200. The banks, with securitie.
pledged for circulation on June 80. mum,
bered 1858. an increase of $50 for the year
More than 50 per cent. of the banks HAD
deposits of less than 500. 900 for circulation
and nearly one-third less than SIS, 600. Will,
40 had no more than $4,000 each. Under {
ruling of the secretary. state and cit,
bonds amounting TO SIS. 474.500 were received
! TO Nov. 10 as part security for public de