The Irish standard., 1903-07-04
OUR FINANCES.
An Interesting Report of the ODern.
tiOns of the Government fOrthe
Past Year.

Washington, July 1.-Assistant Sec
rotary OF the Treasur: Keep has made
summarized statement Of the principal
financial operations OF the government
for the fiscal year closed Tuesday.
The revenues of the government from
all sources for the year ending June 30,
1903, are shown to have been $55S,SS7,-
526. The sources of revenue were as
follows: Customs. $2S3,S9l, 7l9; inter-
nal revenue, $3.50 ,256; miscellaneous
sources, s44SS0551. The expenditures
for the year were $500, l76,59o as fol-
lows: Civil and miscellaneous, $685.
51S,312; war (including rivers and har-
bors), $11S,549, 6S3; navy, $50 COG. SOB; In
dians, S12.93l.S5 pensions. $l3S,425,-
G1S; interest, s2S.556.61S. The surplus
for the year is s52,7l0.936.
In comparison with the fiscal year,
ended June so, 1902. the revenues show
decrease Of s3.500707. and expendi-
lures an increase of $34 oS5.732. The
surplus shows a decrease of S3S5 GIG. 439.
The revenues from customs increased
$29.447.0l The internal revenue re-
ceipts decreased Si1. 7G4 SITS due wholly
TO the operation of the war revenue re-
peal act. The miscellaneous receipts in
creased SS.727.liS More than half of
this increase is due to larger sales Of
public lands. The surplus for 1908 is
$9.710.936 greater than was estimated.
These figures DO not include the rev.
onues and expenditures of the postal
service
The available cash in the treasury on
June so. 1908, was 1921 30 ,012. an in
crease Of Sl9,357 .651 over the cash in
the treasury at the corresponding date
in 1902. The total amount Of gold in the
treasury on June 80. 1914. was SG31 :
go sos. an increase of SCI A39 sos over
1902. The outstanding gold certificates,
less The amount of same in the treas
ury on June so. 1908, We're $379. 35G. 7S9,
an increase of S72957.1S0 over the net
amount in circulation at The beginning
of the year. The treasury notes of 1890,
beginning of the fiscal year. have by the
coinage of silver bullion into standard
silver dollars and subsidiary silver been
reduced to $19.243 900
The amount of public moneys held by
national bank repositories on June 80,
1902. was s123.9S3.0G7, and on June 80,
1903, $751; .72t ,432. an increase for the
year of S27.741 .3G5 The number of de-
positories on June 80 1909. is 10, an in
crease of 1916 for The year
Under the provisions of the score
tary's offer of March &c. 1903 the amount
of bonds refunded to June 80. 1903. was
80 .20s.4 400. In efectins thu exchange
the government has paid out s3.221 024
in cash for adjusting of premiums and
accrued interest. and the annual inter-
est charge on the interest bearing debt
of the United States has been reduced
81 .239,9G2. Bonds to the amount of S1G.-
$4,000 have been purchased during the
year for the :Slking fund reducing the
annual interest charge by 1851 ,437.
The total circulation of national
banks on June 80. 1903. was Sab $50 $50.
The increase for the year was $685.
$50 The comptroller of the currency
reports that during the fiscal year Just
closing 537 new naxonal banks have
been organized. Five national banks
have failed during the last - months
and 72 have gone into voluntary liguida-
ton. During the year ended June 80
1902. three banks failed and GS went into
voluntary liquidation.