The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-09-30
Surplus of $4,000, 900,
Though Internal Reve-
nue. Receipts Fell Off.
REPORT OF TREASURER
Growth of Circulation Kept
Ahead>of Growth of Pop
ulation During Year.

Ellis H. Roberts, Treasurer of the
United States. has submitted to Secre-
tary Shaw his report on the condition
OF the Treasury on June 30. 1903, and its
operations during the past fiscal year.
The total net revenues for the year were
$3.50 ,396. era, an increase of S3S. .9SS, ,439
over the year preceding, and the total
expenditures $500. .099, COZ. an increase Of
S35, ,7S2, ,034. The surplus was S54 297 ,667
as compared with SCI ,2S7 ,375 In 1902
In the receipts there was an increase
of upward OF $4,000, 900 from customs,
and a falling of OF over S4l 900 900 from
internal revenue. the latter being the
result of legislation enacted with that
object. On the side of the expenditures
there was an increase in every i'm
portant account, except pensions and in
terest, in which there were slight saw
ings.
The aggregate income, including, be-
sides the revenues. the receipts from
bonds, notes. and coin certificates. was
s1,211 ,2e4 .0e7. and the aggregate outgo
LII, ga. .665.
At the close OF the year, the Treasury
held $780,, 3,0es,s6 in gold and silver, on
deposit against outstanding certificates
and Treasury. notes, besides the $780,
100000 in gold which forms the reserve
against United States notes In the
general fund of the Treasury, which
amounted to 1922 .031 700. there was s72.-
300. .s20 In gold. together with sSl, SCI, $40
in gold certificates. The deposits in ma
tional banks aggregated s147, $40, $40. an
increase OF nearly $24. 900 600.
After deduetfng these from the avail
able cash balance OF $2ss,6Ss. .1iz. and
setting aside the subsidiary silver bull
lion, minor coin, and national bank notes
there remains an actual fund of $S6, $50. :
40s AS a working balance OF $50, ,OeO ,000
is considered a fair and prudent pro-
vision, there was an excess of over
$s6. 100000, which would have been avail
able for payment toward the sum of $40,
O00. 900 for the Panama Canal. had the
treaty with Colombia been ratified
The bonds held at the close of the
year to secure national bank notes
amounted to 1915 .Oes. no, with $l52. $50,
020 on deposit against public moneys in
banks
On October 1. 1902, the department be-
gap to accept approved State and city
bonds as part of the security for public
funds. releasing United states bonds
held for that purpose. on condition that
these should be transferred to secty
circulation This privilege was with
drawn November Z, 1902. Bonds of five
States and seventeen cities were re-
ceived under this regulation. The max
imum amount held at any time was S2OS
505.5O0 but this was reduced by July
] 10 s17 ,2sO 800.
Treasurer Roberts includes in his re.
port an interesting and exhaustive his
tory OF public deposits in banks during
century. recording the fact that from
the start the National Government USED
banks, at frst for loans and latter FOL
deposits.
The monetary stock of the country OF
June 80. 1903, was s2,eSS, ,14s .621. an in.
crease Of s124 ,sS2. 1868 for the year. Dur
ing the year sI2e. .7l5.72S in gold was
deposited at the mints and assay OF.
fees. OF the receipts from customs a
New York, 81 per cent Of the whole 81
Ter cent were in gold. At other ports
geld constituted about 80 per cent
The imports OF gold were S44 1882 ,O2'
aAd the exports $4,000, ,595. Money IL
circulation increased during the yeai
s1z1,740.z52
The share Of money for each person
increased 50 cents, and the proportion
OF gold 10 the whole rose to All pei
cent, the highest ratio ever recorded
The Treasurer's prediction last yeal
that the growth of the circulation PEI
capita would keep ahead OF the growth
OF population has been fulfilled. Tn
increase in circulation per capita wa
30 per cent, whilo that in population
was 81 per cent.