The Birmingham age-herald., 1903-10-01
ROBERTS SUBMITS
 TREASURY REPORT
Total Net Revenue for the Year Was $590,396,674
INCREASE OF S35,792,O3 4
There Has Been Continual Increase In Proportions of Paper Currency in Circulation, But Growth Hard
 ly Keeps Up With Demand.

Washington, September 30.-Ellis H Roberts, treasurer of the United States has submitted to Secretary Shaw his re- port on the condition of the treasury June 30, 19O3 and it's operations during the past fiscal year. The total net revenue l for the year was s560, 396 674, an increase | of $SS, 98S, 439 over the year preceding, and the total expenditures s5O6, 099, ,007, an in- crease of s35,7s2Os4.
 l The surplus was $54 297, 667, as compared with s91,2S7375 in 1902. In the receipts there was an increase of upwards of $50, ,OOo OOC l from customs and a falling off of over l s41. .0OO0 900 from internal revenue, the latter being the result of legislation enacted with that object. On the side of the ex- penditures there was an increase in every part of the account, except pensions, and interest In which there were slight saw ings. The expenditures for the two mili- tary departments, which together amounted to s1s1. 2S7. 554 forming by far the heaviest outlay for any single pur- pose were upward of $21,0O0000 greater than the year before. The aggregate in- come including beside the revenues, the receipts from bonds, notes and coin cer- tihcates, was $1,211,S94, ,097, and the aggre- gate outgo s1,122 SAT, 665. At the close of the year, the treasury held $S99, 06S869 in gold and silver on deposit against out standing certificates and treasury notes besides the $50 O0O GOO in gold which forms the reserve against United States notes.
 Treasurer Roberts places the monetary stock of the country on June 30, 1903, in- cluding gold and silver. United States notes. treasury notes and national bank notes, but not certificates at g, 6SS, 149, 621, an increase of $124,SS2, 963 for the year. The increase in gold was s60197, 401 and in national bank notes $5699S,559
 The total estimated stock of gold was s1.252, 731, 990; constituting nearly 47 per cent of the whole. The gold in the treas ury amounted to s631. 42O 7S9, after gain, of s71,22O,4 4S0 in twelve months. During the year s126, 715,723 in gold was deposited at the hints and assay offices Of the receipts from customs at the port of New York, constituting 67 per cent of the whole, SS per cent were in gold. The pro- portion of gold at other ports is about 80 per cent.
 The imports of gold were $44,S92, ,027 and the exports $47, 090, 595.
 The increase of the money in circula-
 
 which $59.7 4s2 was in gold and gold certificates and $54,52O,193 in national bank notes. The share of money for each person increased s9 per cent, and the proportion of gold to the whole rose to 42 per cent the highest ratio ever re- corded There has been a continual in- crease in the proportion of paper cur rency of the denominations of s1o and under in circulation, but the growth hardly keeps pace with the demand. The supply can be increased if congress will authorize the issue of gold certificates for sl0 and remove the restriction on the issue of s notes by national banks. To meet the constant pressure requires strenuous effort. The national bank potes presented for redemption during the year amounted to $196, ,621, or 51 per cent of the average outstanding. The figures show that the tens and twenties remain in circulation longest.