Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-11-04
CONDITION Of
THE TREASURY.
Treasurer Ellis n, Roberts Makes
His AuuuaI Report.
AVAILABLE CASH BALANCE.
Woidings OF Gold unprece tented -FS-
cess Of Revenue over E1p nditures
over Ninety-One millions.

Washington, Nov 3,--Ells II. Rob-
qTts, treasurer Of the United States, IA
penlng his annual report, says thai
he magnitude Of the available cash
balance and the unprecedented hold
ngs Of gross gold are the striking
features Of the condition OF the
treasury at the close Of the fiscal year
i9O2, The net ordinary revenues for
1e year were 1862, 47S2S3, and the ex.
pendltures &l7l,19O,S So, showing a sur
plus Of S9l ,2S5S76
In comparison with the previous year
there was decrease OF sos POI, lO4 In
the revenues, offset by q falling of Of
S}S776,i59 in the expenditures, While
there was an increase of SIS, ,2b2 In
the receipts from customs, the internal
revenues, under the operation Of new
law repeating the war taxes, fell of
S35, 3OO5 Sal. There was decrease OF
}32 S43, iSl in expenditures on account Of
he war department, and an increase
Of S,296li9 In the cost Of the navy.
AOl AZ hENbli -
The total receipts Of the year from
all sources, including the public debt,
wore $l,O62 l2i,O37 and the disburse-
ment 1863, 62104l. United States notes
and treasury notes were redeemed N
gold to the amount of sl74S2 500 OF the
former and 81 ga $50 Of the latter, with.
out any impairment of the gold re-
serve Of $3.50 0O0,0 600
In the first quarter Of the fiscal year
1902 the diminution Of internal revenue
continued In larger ratio, from the eff
loct Of the act OF April ~. 1902, repeal
ng war taxes reaching s166O9, 564 The
total receipts were, however s5,oO2,3OG
greater for the quarter The expendi-
ures on the other hand, as compared
NTH the July, August and September
preceding increased by sl9,Siil5l. The
act result Is an excess of receipts or
(l3,539lu.
CASH BALANCE.
The available cash balance In the
treasury July /, 1902, was the largest
net balance In our history. 1t amount
"A to sS62 1877 1861. The gold reserve is
counted in. as 1t is available for the
redemption of legal tender notes. The
sums In national banks to the credit OF
the treasurer and disburslng officers
we're 1927 1870 056, The subsidiary silver,
81 400, 533, and the minor coins S9ls 40i,
could hardly be used for large paw.
ments, nor Is the silver bullion to b.
reckoned for such purpose, With such
deductions there remained In the treas
ury vaults on July little over S12,-
100000. AS s5O,0OO,0OO IL deemed a fair
working fund, about 500 ,O000 900 could
lie spared BY Oct. | this excess be-
came s25,OO00OO and justified measures
to reduce IT, BY Nov. 1t was brought
to trlhe over 81, 100000 below the work
ing fund.
THE GOLD COIN
Nearly one-half of the available cash
balance July was In gold coin and
certificates sl03,S0l, 290 over and above
tie gold reserve of Sl50,00O000, and by
Oct 1t became sl36, PATH, As a meas
ure Of the financial strength of the gov
eminent, the report says the fact de-
serves mention. BY Oct. /, 1902, the
available cash balance, exclusive Of the
reserve, was s22l ,253,39i and owing to
the large measures for the relief Of the
money market, It was reduced by Nov.
/ 10 s206, 42l $40. OF this sum sl46,SS5, 0l2
was In national banks,
VALUE OF BOND PURCHASES,
Bonds Of the face value OF $50 OIL ,230
were purchased during the fiscal year
for the sinking fund, at a total cost Of
SI0,4l023O for principal, premium and
purchases were made Of $3.50 900 bonds
Of the loan of 1904 at 1876, and in Oct.
per cent Of 1925 were bought to the
amount of Sl5,675,250 for principal, in
volving the payment Of s2l $685. $40, in
Guiding premiums and accrued interest.
The interest due Oct. !, 1901 amounting
to s4,7l2,l2O, was anticipated on Sept,
l6. That due Jan. /, 1902, for 81 $50, 1886,
was anticipated on Dec. Is, On Sept,
Is, 1902, the interest due Oct. I, 81 56l, AIS,
was anticipated, and on Oct 20, the In
terest due Nov. |. for s2,323,93. was paid
in advance. During october interest
to the amount of sS,3lS,997 was paid In
advance, with a rebate Of $685. 449 under
an offer Of the secretary covering all