Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-04
ENORMOUS REVENUES;
BUT $593,000,OC0 SPENT.
Surplus in Federal Treasury, $91,-
&S.,315-Receipts from Internal
Revenue. sci ,SSO,12

The revenues of the government from
all sources for the fiscal year ended June
80. 1902. according to the annual report
OF the secretary of the treasury made
public to-day. are 1854 BIG. 2S041 The ex-
penditures for the same period were $593.
02S,904.so. showing q surplus OF SCI, 2S7.3i557
Compared with the fiscal year 1901. the
receipts for 1902 decreased 1880. 250.45
while there was a decrease in the eX-
penditure of $685. 776. 1851.
The enormous revenues of the govern
ment were largely from three sources
the internal revenue receipts being S2l1.-
Ss0,122.10; from customs, 1854. 444, 70S1 10; and
from the postal service. s121.S4S047 &c.
PENSION DRAIN.
The largest drain on the treasury was
for pensions amounting to 3S.4SS. $50 70.
Other expenditures Were as follows:
For the civil establishment, in
Guiding foreign intercourse,
public buildings, collecting
the revenues. District of Co
lumbia. and other miscella
neous expenses. Sill 051, Ii. SO
For the military stabliSh
ment. including rivers and
harbors. forts. arsenals. sea-
coast defenses and expenses
OF the war with Spain and in
the Philippines. n2272, 21sos
For the naval establishment i
including construction of
new vessels. machinery. ar
mament, equipment, i'm
proyement at navy-yards,
and expenses of the war
with Spain and in the Philip
pines G7S0S. 12s. "a
For Indian Service 100i9. S4.S6
For interest on the public debt &10S, 44.S2
For deficiency in postal reVe-
nues 24a2. 1872 so
For Postal Service l2l S4S, 047. 26
OPERATIONS OF THE TREASURY.
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
cas h balance and the unprecedented hold
ings of gold. Among the notable events
of the last fiscal year are the diminution
of revenues due to the repeal Of war
taxes. the reduction 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, $50 Of the former
and S127459o of the latter, without any
impairment Of the gold reserve of $780,
DOC. 600.
The increase Of the available cash bal
ance was sSS, 7so56S. bringing the total
on June 80 to s2l2 1S7,361 BY Oct ]. 1902,
the total increased to S221 .25S,394, but was
reduced by Nov ! TO S206, AZ. $3.50. In
elusive of the gold reserve, the available
balance on June 80 was $685. 1851 the
largest in the history of the department,
for while these figures are exceeded by ten
records of 1879, the latter included In the
account the funds held temporarily
against called bords. After allowing for
subsidiary silver. silver bullion, and MINOR
coin not available for large payments,
there remained in the treasury vaults
Nov. a fund of over S56, 900, 00o which is
slightly in excess Of what is deemed
fair working balance. Nearly half of the
net available cash balance. over and
above the reserve of sl50,0oO0 900, was in
gold and gold certificates. which amounted
TO slG3 sol 200 and increased by NOV. TO
Sis, $40 s33. a sum far exceeding the out
standing liabilities.
NATIONAL BANKS.
The number OF associations in active
operation Oct. 81, 1902 was 4,67s, with au-
;horized capital of S7lS, ABS, 69o; bonds on
deposit to secure circulation, s33S, 3526 SO.
and circulation outstanding secured by
| bonds $685. 3,1S9
The National Banks organized from
March a. 1900. to Oct 81. 1902, in Virginia
were twenty-four, with total capital of
81. ESQ. 900.
The report of the treasurer is very,
elaborate, and while the bulk of the
! statistics deal with the governments IL
nances. a number OF interesting things
feature. ~
The estimated population of the United
States Nov. !. 1901, was 7S,21l,00o. and the
per capita supply Of money outside the
! treasury was s2s.72. The estimated popu-
lation and the per capita supply Of money
Nov. /. 1902, were 1852, 900 and $685., re-
spectvely.
FOREIGN COMMERCE.
The marked characteristics Of the for
eign commerce of the United States du-
ring the fiscal year ended June 80, 1902.
were a decrease Of sos. 045 $50 in exports
and an Increase of $So.l+s,7s3 in imports.
The total exports of the year were 81
1851, 71s, 4o1 Of which Sl.35b, s41. s61 was Of
domestic production: the total imports
were S9o3. 320, 1874. making the excess of ex-
ports over imports s47s,ssS,45s. The de-
crease in exports Is chiefly due to the
unusual home demand. to the shortage
in the corn crop of 1901, and to a reduc-
ton in prices of certain great staples ex-
ported. The unusual demand fol. q the
home market for manufactures or iron
and steel caused a reduction of SIS, 7G6. =
1853 In the domestic exports Of Iron and
ctr 60