Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-07-01
AND CREDIT.
Splendid Showing of Treas
ury for Fiscal Year.
Sb Surplus Of $50, 7lo,93e, or s,7lo,'
936 More Than Expected.
Total of Income from All Sources Was
$685. ,s26.

Washington, June 30.-Assistant
Secretary of the Treasury Keep has
made summarized statement of the
principal financial operations of the
government for the fiscal year closed,
today.
The revenues of the government from
all sources for the year ending June
30, 1903, are shown to have been $685.
S87,52G. The sources of revenue were
as follows: Customs, s2S3,S91, 719; in
tcrnal revenue, $3.50 5,256; misccl-
1aneous sources, $44, SS0,551.
The expenditures for the year We're
$506, 1850, as follows: Civil and mis-
celaneous, s12501S,3i2; war (including
rivers and narbors), S11S,54S,GS3; navy,
sS2,65G,S03; Indians, $l2,931,5 $3.50; pen
sions, 1928, i25,61S; interest $23,556, SIS.
The surplus for the year is $52,710,
936. In comparison with the fiscal year
ended June 80, 1902 the revenues show
a decrease of $3,50O,7O7, and the ex-
penditures an increase of $34,985,13
The surplus shows Il decrease of $685.
GT6,439.
The revenues from customs increased
S29, 447,O1O. The internal revenue re-
ccipts decreased $41,7G4, S6G. due wholly
to the operation of the war revenue
repeal act.
The miscellaneous receipts increased
$S,727.14S. More than half of this in
crease is due to larger sales of public
lands.
The surplus for 1903 is $9,710,936
greater than was estimated.
These figures do not include the revc-
nues and expenditures OF the postal
service.
The available cash in the treasury
on June 80, 1903, was 1921 ,545,012, an
increase of $1O,357,G51 over the cash
I'm the treasury at the corresponding
date in 1902.
The total amount of gold in the
treasury on June 80, 1903. was $63l 639,-
$40, an increase of ST. ,439,59S over 1902.
The outstanding gold certificates, less
the amount of same in the treasury
June 80. 1903, were $373,356, 7S9, in in
crease Of 72.95S, $50 over the net amount
in circulation at the beginning Of the
year.
The treasury notes of 1890, which
amounted to 100000 900 at the beginning
of the fiscal year, have by the coinage
of silver bullion into standard silver
dollars and subsidiary silver been re-
duccd to $40, 243, 900.
The amount of public moneys held by
national bank depositaries on June 80,
1902, was $l23,9S3,067, and on June so,
1903, $751; ,724 432 an increase for the
year of 1927, al 1865. The number of de-
postaries OH June so, 1908, is 40, an in
crease of 1876 for the year.
Under the provisions of the secre-
tarys offer IF March 26, 1.03, the
amount of bonds refunded to June 30
1903. was $74 Loo, 400 In cffecting the
exchange the government has paid out
$3,221,0 24 in cash for adjustment OF
premiums and accrued interest, and the
annual interest charge on the interest
bearing debt of the United States has
been reduced 1888, 9G2 Bonds to the
amount of SIG, 500 have been pur-
chased during the year for the sinking
fund, reducing the annual interest
charge by 1901, 437.
The total circulation of national
banks on June 80. 1903, was $4l3,6'065o.
The increase for the year was $55,99S,-
5,9
The comptroller of the currency re-
ports that during the fiscal year just
closing 537 new national banks have
u been organized. Five national banks
have failed during the last l. months,
and - have gone into voluntary liqui-
dalton. During the year ended June
80. 1902, three banks failed and Is went
into voluntary liquidation.