The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-03
'SECY SHAW REPORTS
Secretary Of the Treasury Furnishes
Gratifying Lot Of Figures to
Congress.
Big Increase in Imports Accounted
for by Enlarged Demand for J,
aw'Material.
BY Long Distance Phone from the Asso-
ciated Press. 1893

0y Long OlstdDCe 1TnOney from Ine ASSo.
ciated Press.
Washington, D. c., Dec. s.--The report
of the secretary OF the treasury was laid
before congress to-day. The secretary
in his statement of receipts and expendi-
lures for the fiscal year hsows the rev.
enues Of the government to have been
$684,S26, 2sO.47; expenditures, 1898, 03S,
904.90; surplus $91, 2S7, 375. 81. Compared
with 1901 the receipts decreased $4,000,
2o0.45. There was a decrease of $3S, 1885,
ADD. 81 in expenses.
The striking features of the condition
OF the treasury are the magnitude of the
available cash balance and the unprece.>
denied holdings Of gold. Among the no
| table events Of the last fiscal year are
the dinlinution of revenues due to the re-
peal of war taxes, the reduction Of ex
penditures. and the changes in the com
position of the paper currency. United
States notes and treasury notes. were
redeemed In gold to the amount of $17.-
48259O OF the former and $1,274,59O Of the
latter, without any impairment Of the
gold reserve Of s150,000,O00. 70
The increase of the available cash bal
ance was s33,7SO,563, bringing the total
on June 80 to s212,1s7,S61. BY October T.,
1902 the toal increased to 1921, 253, 1874, but
| was reduced by November 1 to $2O6, 421, :
$780, Inclusive of the gold reserve, the
| available balance on June 80 was 1862,
1s7,361. the largest in the history of the
| department., for while these figures are ex-
ceeded by the records Of 1879, the latter
included in the account the funds held
7 temporarily against called bonds. After
ALLOWING for subsidiary silver, silver bull
lion, and minor coin not available for
large payments. 'ther remained in the
treasury vaults November / fund of over
$66, 100000, which is lightly in excess of
! what as deemed a fair working balance.
The first quarter of the new fiscal year
al hxv f,,zS
orsetting the reduction by the new stat
utes IN internal revenue. Both the re-
ce1pts and the expenditures were in ex-
cess OF the corresponding months in the
year preceding =.
In the total amounts of bonds held, for
natlonai banks as security for circular ting
notes, the most significant hcanges were
a reduction Of nearly $14,0O0,00 between
October and June. and on increase of
nearly $4,000 600 between June and Octo-
/ Der.
| During the year ended Sept 80. 1901,
there was an addition of SIS, 1856, S45 to the
| paper currency of $50 and under, while
only $9,794, 500 was added to the higher de-
nominations. Inclusive of gold coin, the
smaller denominations constituted over
80 per cent Of the whole stock of money.
In tn enext twelve months the increase, of
the smaller denominations was 81, 283, 129,
and Of the higher only $4,745.75O. raising
the percentage of the former to over 49,
The demands Of the people for notes of
small denominations have surprised the
closest students Of the currency. :"
| From the occupation of the Philippines
to Sept. Is last, an aggregate of s27, 1881, $50
III American money was sent there to be
used in government disbursements. OF
this, $15,6S0.O00 was in paper, $40, 29O 600
in gold, and the remainder ia silver and
minor coin. There is no record to show
what has been returned. =
The act Of March IA, 1900, has been car
ried out in accordance, with the spirit and
\ letter of the statute. The parity of all
kinds Of currency has been maintained.
4 For the present, no silver certificates are
I issued Of higher denomination than IS,
and no United States notes Of any other
denomination than $40, while gold eertifi-
Gates alone are issued in the higher forms.
There was unusual activity in the move
| ment Of silver and minor cel4aaAA and from
! the treasury.
+. NATIONAL Banks. ri -
F. The number Of associations in active OPP
Grafton Oct. 81, 1902. was 4,67S, with au-
thorized capital Of s71s, 435,6 1916; bonds on
deposit to secure circulation, s338.352, $40
and circulation outstanding secured by
bonds $685. 1881
Foreign Commerce.
The marked characteristics of the for.
eign commerce of the United States dur
ing the fiscal year ended June 80, 1902
were a decrease of $1O6, 045, $50 in export:
and an increase OF $80,14S,7s3 in imports
The total exports Of the year were 1881.
719,401, of which s1,355, 4S1. 1851 was of do
, nestle production; the total imports wer.
5000. 320,94S, making the excess of exports
, over imports $47S,39S,45 3. The decrease IL
exports is chiefly due 10 the unusual HON,
demand, to the shortage in the corn Gro,
Of 1901, and to reduction in prices of Ger
, tain great staples exported. "~'
The increase in importations was chief,
due to an enlarged demand by manufac
turers for raw materials for use in manu-
featuring, the Increase in the irnporta
tons of manufacturers materials of al
classes being 500, 732,2 21. . & $1ssFa:5%
immigration.
t The commissioner general Of inmigra
I ton reports that there arrived at port,
l OF the United States during the fisca
t year ended June 80. 1902, 64S, TAB alien.
= as Storage passengers and 50, 055 as cab.
IN passengers, agregating a total a1ier
, 1mmigrat ton of 73O,79S. This total, how
ever, does not include all the alien ar
rivals during the period named, as M
record is kept Of those coming from Mex
leo and Canada, except such as have