The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-09

tons. exclusive of sinking
nr d:c;, 90 "a 2cs q q
TREASURY OPERATIONS.
The most noticeable features i'm the condi-
ton Of the treasury the increased avail
able cash balance and the increased hold
ings of gold. Since 1890. the available cash
balance. including the reserve, has more
than doubled. rising from s179, 25s S37.1S to
$3SS ,SS6.114S- The cash in the general fund
increased during the year by $50, 103 $50 81,
and the liabilities increased 50, COS, liz. co.
Thus. the available cash balance at the end
of 1903 exceeded that of 1902 by SIG, 1885, 75s. o.
Increased receipts from customs sales of
lands and from miscellaneous sources near
~ equaled the diminEtion in receipts from
internal revenue. The increase of expendi-
lures for the fiscal year 1905 over those of
1902 resulted in a reduction of the surplus
revenue for The year OF S36, $3.50, 70S 81
For the first quarter of the fiscal year 1904
the receipts were Sc. 733, 297.42 greater than
the expenditures
The trust funds held for the redemntion
of the notes and certificates for which they
are pledged increased to 1856. O6S &c., an in
crease for the year of $50. 459, $50.
Transactions in public-debt items other
than those related to the trust funds.
caused net decrease OF S1s,625, i44 in the
pnbliSs debt an "a reduced the e. annual inter-
The foreign holdings Of United States
bonds are principally confined to the reg
the amount was s24,SS9O2O. At the end IF
1893 IL was reduced to SIG. sec $50.
During the year 1903, national bank notes
to the amount Of 1896 429.621 were presented
for redemption. an increase over the pre-
vious year of $24. so. 1868. The expenses in
CURED were S174, 477.62, which have been as
sesse6 upon the banks at the rate of 81 e09e2
per 81 600 OF their notes redeemed
There Is continuous growth i'm the ratio
Of public money OF denominations of SO
and below TO the total public money in cir
cuiation, but the increase in small hills
hardly keeps pace with the demand. The
process OF changing denominations under
the act of March T. 1900. will reach its limit
further provision for small notes REQUIRES
early attention. The treasurer suggests
$40 be authorized. and that the restriction
on the Issue OF 50 notes by national banks
be removed.
GOLD ACCUMULATING
Gold continues to accumulate in the treas
ury. The total holdings of gold on Julv
!, 190s were s631. 400, 7S9.4 S, an increase for
the year of S71.220.4s9 On Oct. /. 1908. the
total holdings OF gold in the treasury
amounted to s654.S11.716. Unrestricted use of
gold coin and certificates in all branches of
business and the freedom with which they
are paid out of the treasury have been
marked features of the treasury operations
during the past year.
Transfers or currency by telegraph
5 against deposits in New York. to cover
what Is called money TO move the crops
continue Depositors find ii convenient to
offer gold certificates for the exchange and
as small denominations are almost always
wanted for local use i'm the crop-moving
districts. the treasury pays out United
States notes OF the denomination of SO
and silver certificates OF s. and below
United States paper currency issued in
the fiscal year 1895 amounted to S55l. OSS 600
greater than in 1902. Redemptions amountad
20 siSs,5SS,2Zp and the number of pieces was
IL per cent. greater than in 1902
nrf
Of all kinds of money for redemption and
exchange during the year. The amount
paid for was sS6i5Os,56l. an increase of
$141, 22S, 315 over the preceding year
The sum OF sS5.504.050 was sent Ia the
Philippines from May 1855 TO Aug Is 1oas
The standard silver dollars In circulation
July /. 1902. were $6S. 747. 349 and the amount
I'm circulation July J. 1903. was So. 391 30. The
amount distributed at the expense of the
government during the past fiscal year was
{l.Is2154
Subsidiary silver coin amounting TO se4 :
112.445 was distributed during the year to
depositors therefor but the amount i'm cir
culation shows an increase for the year of
only s7.005.466 The rate for transport non
On shipments OF silver coin during the wear
was soc per $le00.
THE PUBLIC DEBT.
The secretary summarizes the reports of
the controller of the currency. the treasurer
OF the United States and the director of
the mint. whose reports have already been
published. The secretary says: The inter-
est-bearing debt OF the United States ont
standing Nov. 4. 1903. was $685. 277 O6O. and
the annual interest charge thereon was
1850 'Sl. 30. There was 2i.34061O bonds
held by the treasurer OF the United States
In trust for the national banks as security
tor circulating notes and deposits. leaving
So. s35. 40 In the hands Of other Investors
The estimated population of the United
states Nov. l, 1902. was 7s.512.o0o and the per
capita supply OF money outside the treas
ury was Ss] The estimated population