The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-10-01
EXPENSES INCREASED.
Every Item Except Pensions and
Interest Shows Expansion.

Washington, Oct. Ellis H. Roberts.
treasurer of the United States, has sub
mitted to Secretary Shaw his report on
the condition of the treasury June 80,
1903, and its operations during the past
fiscal year. The total net revenue for
the year was $3.50, ,396,673, an increase
of $3S, ,9SS, 439 over the year preceding,
and the total expenditure $506, ,09S,007,
an increase of $35, 1872, 034. The surplus
was $54, ,297, ,667, as compared with $751;
287, ,315 in 1902.
In the receipts there was an increase
of more than SIC, 900, 900 from customs
and a. falling off of over $41, ,0000 600 from
internal revenue, the latter being the
result of legislation enacted with that
object. On the side of expenditure there
was an increase in every import
ant item except pensions and interest In
which there was slight saving The
expenditures for the two military de-
partments which together amount TO
S191, ,237, ,554, forming by far the heaviest
outlay for any single purpose, were
more than >$21, 900, 900 greater than the
year before. The aggregate income in
cluding, beside the revenues, the re
ceipts for bonds, notes and coin certif1-
Gates, was 81, ,211, 1874 ,0S7, and the aggre-
gate outgo 81, ,122, 647, 665 AT the close
of the year the treasury held SS93,O6S,-
S69 in gold and silver on deposit against
outstanding certificates and treasury
notes. besides the $150,000,000 in gold
which forms the reserve against U. 3
notes.
Treasurer Roberts places the none
tary stock os the country on June 80,
1908. including gold and silver, ?.
notes, treasury notes and national bank
notes. but not certificates, at $2,beS,-
i149. .621. an increase of $124, 49,, ,963 for the
year. "a.
The increase in gold was $50, l3t 4ol'
and in national bank notes $26.9SS oos.
The total estimated stock of gold was
81. 80 731 $50. constituting nearly Al per cent
of the whole. The gold in the treasury
81 Ssa $50 in 12 months During the year
I S12G. rs, 723 in gold was deposited at & liid
mirts and assay offices. OF the recelp,ts
from customs in the port OF New toIk'
constituting the 81 per cent of the whole,
s. DER ceat we're in gold. The proportion
of cold a t other ports is about - per cent
The iranorts of gold was $449s2.0 .02I, and the
exnorfs s47 090. .595 The increase OF tho
money IN circulation during the year WAS WAS
s121 40 252 of which $50 rs, 49, was IN Sold
and cold certificates and S54.520 1872 in ma
tionaI bank notes. The share OF money
for each person increase6 81 bne eets T1 rose fe
AZ per cent the highest ratio ever reoolu-
There has been a continual increase in
the proportions of paper currency Oh the
denominations of SO and under IN CIR
culation but the growth hardly Keeps pace
with the demand. The supply can be IN
creased if congress will authorize the is
sue of gold certificates for SO and remove
the RESTRICTION on f3e n iSsef e q tns % Constant
pressure requires strenuous efforL IN tns
prepa ration of the currency issue The ma
tional bank notes presented Tor re1eInp- e M
fion during the year amount to Sl9o.4z9:-
621 or 81 per cent of the average outstaho-
ing. ...4..,,.- ,,,o,o *
ner cent: of the $10 .46 per cent: of the $40.
49 per cent; of the $50, 81 per cent, and OF
that the tens and twenties remain in cir
culation longest