The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1903-12-09
SHAW'S
REPORT
Treasury Is In Flour
i>hing Condition.
BIG INCREASE IS EXPECTED
recommendations Regarding Changes
in the Monetary System-An
Elastic Currency.

WASHINGTON, Dec. 9.-Secretary
ShaWs annual report is in part as fol-
lows:
The most noticeable features in the
condition of the treasury are the IN
creased available cash balance and
| the increased holdings Of gold. Since
1890, the available cash balance, in
| Guiding the reserve, has more than
doubled, rising from $119.259,S3l.1S to
| 1888, ,6S6, ,11A23. The cash in the gener-
| al fund increased during the year by
| $50. O3,869.67, and the liabilities in
! able cash balance at the end of 1903 eX-
| ceeded that of 1902 by $26,49S,753.07.
Increased receipts from customs,
sales of lands and from miscellaneous
sources nearly equaled the diminutiOn
! in receipts from 1908 over those of 1902
resulted in a reduction of the surplus
| revenue for the year of 3G,9S9, ,70S.21.
For the first quarter of the fiscal
year 1904 the receipts were $6,73S, 297.-
- greater than the expenditures.
The trust funds held for the re-
| lemption of the notes and certificates
for which they are pledged increased
| to $S93.O6S, ,S69. an increase for the
year of $62. 2.4597 7S0.
Transactions in publicdebt items.
other than those related to the trust
! funds. caused a net decrease Of $18,
| 625, in the public debt and re-
duced the annual interest charge to
the extent of $2,O01,372.2O.
The foreign holdings of United
States bonds are principally confined
| to the registered class, and are dimin-
ishing. In 1899 the amount was $24,-
| 339.020. At the end of 1903 it was re-
duced to $16,S6695O.
The domestic coinage of the mints
| during the year aggregated 1S45lS,63S
pieces of the value of $74,203, 000.43 Of
this, s45.721,773 was gold coin, 1872
| 7S5 standard silver dollars, $S,023,751,-
25 subsidiary silver coin, and $2.4S4,
691.1S minor coin. In number of pieces,
| the total coinage was greater than in
any previous year.
! The silver dollars were coined from
bullion purchased under the act of Ju-
/ ly IA. 1890. OF the subsidiary silver,
| $2,509,000 was likewise coined from
| this bullion. OF this bullion there re-
| manned on hand June 80, 1903, 1902
1885 fine ounces, which cost s15, $780,
| 80. The entire amount will be used
| for coinage by the close of the fiscal
| year 1904.
! At the request of the secretary of
war, the purchases of bullion required
| for the silver coins of the Philippine
archipelago. authorized by the act of
March 3, 1903. We're made by the direc-
tor of the mint, with the approval of
| the secretary of the treasury, and dur
| ing the last three months of the fiscal
year the mints at Philadelphia and
San Francisco confined their opera
tions to the manufacture of Philippine
coins. There were purchased from
March 26 to June 80. 1903 for deIiv-
cry at the mints at Philadelphia and
San Francisco, 73460S5.40 fine ounces
of silver, costing $3,S62, ,6S0.25. This
bullion has been paid for by the gov
ernment of the Philippine Islands, and
the United States government has
been also reimbursed for the cost of
coming the same. The coinage made
| for the Philippines during the year
amounted to S,O37, ,573.10 pesos in sill
yer and 1S3, 465.30 pesos in miner coin.
| in addition to these, the mint a t Phil
adelphia coined 100000 pieces in sill
60. ,n1n roI4
| in silver for Colombia
| Customs.
While complete reorganization of
the customs districts is advisable, the
correction Of a deplorable condition of
| affairs in the Puget Sound district is
| imperative. There can be no justifca-
| ton whateved for the continuation of
| present conditions. BY law the collec-
tor of customs is required to live at