New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-07-01
BIG TREASURY SURPLUS.
Il SATISFACTORY YEAR.
An Increase of Ten Millions OUer
Secretary Sha50's Estimate.
TFRoM THE TRIBUNE BUREAU. I

TFRoM THE TRIBUNE BuREAu.l
Washington June 3O-The fiscal wear of the
Treasury Department ended to-day and a state
ment of the financial operations of the government
prepared for The Tribune by Assistant Secretary
Keep shows that the year has been from all points
or view most prosperous and satisfactory one
The surplus of receipts over expenditures of s52-
7lOSS6 was nearly ten millions greater. than was esti-
mated by the Secretary of the Treasury when Con-
gress met last December. The actual cash in the
treasury increased only $19357651 in the year. the
balance of the surplus going to pay interest on the
public debt, the expense of the refunding opera
lions and the redemptions of certain government
bonds.
The revenues of the government from all sources
Tor the year ending June 30 1903 shown to have
oeen SS0S'SS1526 The sources of revenue as
follows: Customs, S3,S91.19 internal revenue.
S2SO.l15,256; miscellaneous sources $44 $50 sol The
expenditures for the year yere $685. 176 800 fol-
lows: Civil and miscellaneous S125O1S312: war din
Guiding rivers and harbors). s11S5496SS; navy $S2.
66SOS; Indians, s12 5S6: pensions $685. 256S;
terest, SOS 556, 61S
The surplus for the year Is $50 710936
In comparison with the fiscal year ended June 20
1907 the revenues show decrease of So o7O7 and
expenditures an increase of $3 1885, 1872 The revenues
from customs increased $29447.0lO The internal
revenue receipts decreased $ 764 $685. due wholly to
the operation of the war revenue repeal act The
miscellaneous receipts increased 872714S More than
lands he Surplus or 1888 is s[eF sa re Gf pf ba6
was estmated. These figures do not include the
soa1 5 a avg cash in the Treasury to-day was
increase or $lS,3oI Col over the cash
IN the treasury at the corresponding date in 1902
me total amount Of gold in the Treasury June
over 1902.
The outstanding gold certificates less the amount
IN the treasury on June 80 1903 1919 306 1883,
increase of $72957 $50 the net amount in crcu-
lauon at the beginning of the year.
Inc treasury notes of 1880, which amounted to
$SOVSoOO at the beginning of the fiscal year, have
by the coinage of silver bullion into standard silver
dollars and subsidiary silver been reduced to
S9,243,O00.
The amount OF public moneys held by national
and June 30 1903 $51 724 1872, increase for the
year of &774, 1865. The number of depOsitaries on
June 30, 1903, is 10. increase of 1876 for the year.
Under the provisions of the Secretarys ofer or
June 80, 1903. was $74,2O2 400. effecting this
change the government has paid out SS2A,OA IN
cash for adjustment of premiums and accrued IN
terest, and the annual interest charge on the In
reduced 1888, S62 Bonds to the amount of $6529.
800 have been purchased in the year for the sink
ing fund. reducing the annual interest charge by
1861, 437.
80 1903, was $4l3670,650 The increase for the year
SIS, 99S $50.
The Controller of the Currency reports that dur
ing the fiscal year 537 national banks have
been organized. OF these new banks 339 have a
capital or $4,000 each approximately, and have been
organized in places having a population of less
than three thousand. OF these $4,000 banks
ABOUT AZ per cent not strictly financial In
sututtons, but are conversions reorganizatons
upder the national bank laws of State and private
banks already in existence. Five national banks
have failed in the last twelve months and seventy
two nave gone into voluntary liquidation. In the
year ended June 80 1902, three banks failed and
siXty-elght went into voluntary liquidation. The
consolidation and absorption OF smaller and weaker
banks by larger institutions reflected in the
number of voluntary liquidations.