The Butte inter mountain., 1903-10-01
MONEY IN UNITED
STATES TREASURY
ROBERTS SUBMITS REPORTS OF
TRANSACTIONS OF THE
FISCAL YEAR.
ny ASSOCIATED PRESS

Washington, ID. c., Oct. Ellis II. Roberts,
treasurer of the United States, has submitted
his report to Secretary Shaw on the condition
of the treasury on June 9, 1903, and its opera.
tons during the past fiscal year.
The total net revenues for the year were
s56o.3oo.673, an increase OF S33,o88,43o over the
year preceding, and the total expenditures
S5o6,ooD,oo7, an increase of s3s.7SI,o3i.
The surplus was $542o7,667, as compared
with S9i,aS7.375 in 1909. In the receipts there
was an increase OF more than $3o,ooo,ooo from
customs and falling off of over s4r,oooooo
from internal revenue, the latter being the
result of legislation enacted with that object
On the side of expenditures there was an
increase in every important account except
pensions and interest, in which there were
slight savings.
The expenditures for the two military dc.
partmens which. together amounted to
sIoi,sa7,s54, forming by far the heaviest outlay
Tor any single purpose, were more than
$er,ooo.ooo greater than the year before. The
aggregate income including beside the rcvc.
nucs the receipts from bonds, notes and coin
ccrtihcates, was SI,aII,3oi,oo7, and the aggrc.
gate outgo $I,Iaa647,66s.
At the close OF the year the treasury held
$so3o6s,s64 of me gold and silver on deposit
against outstanding certificates and treasury
notes, beside the $I5o,oooooo in gold, which
forms the reserve against United States notes.
Treasurer Roberts places the monetary stock
OF the country on June 80, 1908, including gold
and silver, United States notes, treasury notes
and national bank notes but not certificates,
at Sa,6ss.I4o,6sr, an increase Of $I24,8ss,o63 for
the year. The increase in gold was 500, 4oI,
and in national bank notes, $56oos,55o.
The total estimated stock of gold was
Sba5a,73a,9oo, constituting nearly AZ per cent
of the whole. The gold in the treasury
amounted to $63I,4so7s9, after gain OF
$7I,2ao,48o in IL months.
During the year $I26,7I5,7a3 in gold was
deposited at the mnts and assay Offices. II
the receipts from customs at the port of New
York, constituting 67 per cent OF the whole, 88
per cent were in gold
The proportion OF gold at other ports Is
about 30 per cent. The imports of gold was
$H,o8a.oos and the exports $47ooo,so5. The
increase OF the money in circulation during the
year was $I2I,74o,a52, of which $5o,77646a was
in gold and gold certificates, and $s4,52o 1913 in
national bank notes.
The share OF money for each person increased
80 cents, and the proportion of gold to the
whole rose to a. per cent, the highest ratio
ever recorded.
There has been a continual increase in the
proportions of paper currency OF the denomi-
nations OF $Io and unuer in circulation but the
growth hardly keeps pace with the demand
The supply can be increased II congress will
authorize the issue OF gold certificates for $40
and remove the restriction on the issue of SIS
notes by national banks. To meet the con.
stant pressure requires strenuous effort in the
preparation OF the currency issue.
The national bank notes presented for re-
demption during the year amounted to $780,
4ao6aI, or 81 per cent of the average outstand.
ing. OF the SIS notes the redemptions we're
IS per cent; OF the sios, 46 per cent; of the
$aos, 49 per cent; of the $sos, 81 per cent, and
of the $oos, 70 per cent. These figures show
that the tens and twenties remain in crcula.
ton longest.