The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-01
ROBERTS TELLS ALL
ABOUT THE TREASURY
Custodian of Uncle Sans Sick.
els Describes Years
Operations.

:. WASHINGTON. D. c., Sept. SO.-EI-
us n. Roberts, treasurer of the United
states, has submitted to Secretary
SHAW his report on the condition of the
treasury June 80, 1903, and its opera
lons during the past fiscal year. The
eoCal net revenue for the year was
1901, 396,674, an increase of S38 eSS A2a
over the year preceding. and the totoI
expenditures S506,099. COZ. an increase
OF 300, GS2,O34. The surplus was SEA
1902 900 III
In the receipts there was an increase
Oh upwards of $4,000, 900 from customs.
ana falling off Of over Sal 600 ono
ttonl internal revenue, the latter being
the result of legislation enacted with
mat OBJECT. On the side of the ex
pendltures there was an increase I'm
every important account exceDt mem
SONS and interest, in which there wera
Slight savings
Inc expenditures for the two mill
ltafy departments, which together
amounted to $191, 237, 554, forming by
far the heaviest outlay for any single
purpose, were upward of S21 900 600
greater than the year before The ag-
sfegate income, including beside the
revenues, the receipts from bonds
notes and coin certificates, was S1.211..
394,097, and the aggregate outgo
P1IIZE, Oh I, OO3
At the close of the year, the treas
ury held $S93,06S,S69 in gold ana sill
yer on deposit against outstanding Ger
Ilncates and treasury notes, beside the
Sl5O,0OO,OOO in gold, which forms the
reserve against United States notes.
treasurer Roberts places the mon
etary stock of the country on June 80.
I9OS, including gold and silver, United
states notes, treasury notes and ma
no
at S2,6SS, 1862, an increase of SPA
8S2,963 for the year.
The increase in gold was $60,137, 40I
and In national bank notes $685. 59.
The total estimated stock of gold was
S1,252, 1918 $50; constituting nearly AZ
per cent of the whole. The gold in the
treasury amounted to $631, 42O,7S9, after
a gain of 1920. 4S0 in twelve months.
During the year $126,715,723 in gold
was deposited at the minis and assay
offices.
OF the receipts from customs at the
port of New York, constituting 81 per
cent of the whole, SO per cent We're in
gold. The proportion of gold at other
ports Is about 80 per cent. The i'm
ports of gold were $44,982, OPT and the
exports $47,090,595.
The increase of the money in circu-
lation during the year was $121,74O,252,
of which $50, 775,462 was in gold and
gold certificates and $54,520.193 in ma
tional bank notes. The share of money
for each person increased 80 cents and
the proportion Of gold to the whole rose
to AZ per cent the highest ratio ever
recorded. There has been a continual
Increase in the proportions of paper
currency of the denomination OF $40
and under in circulation, but the
growth hardly keeps pace with the de-
mand. The supply can be increased
If congress will authorize the issue of
gold certificates for $40 and remove the
restriction on the issue of S. notes by
national banks To meet the constant
pressure requires strenuous effort in
the preparation Of the currency for is
sue.
The national bank notes presented
for redemption during the year
amounted to $196,429, 621, or 81 per cent
Of the average outstanding OF the SIS
notes the redemption were SIS per cent;
of the SO. As per cent; of the $40, 40
per cent; of the $50, 81 per cent, and
of the 800, 70 per cent. These fig
ures show that the SO and $40 remain
In circulation longest.