Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-07-01
HAS A HUGE SURPLUS
United States Has More Gold
In Its Vaults Than Any
Other Nation
END OF FISCAL YEAR TUESDAY
Showing Made by the Treasury Depart
ment is Source of Gratification-Th
Surplus Now Over Fifty Million DOL
lars, notwithstanding the Repeal of
the War Tax.

| Washington, July 1.-There was {
surplus of s52.710,590 in the treasur,
at the end OF the fiscal year which
closed yesterday, notwithstanding the
repeal of the war taxes. The United
States government now has in its
vaults more gold than any other nation
on earth.
The receipts for the year were $685.
176.590. The amount of gold in the
| treasury is $631, 639,S9S, including that
against which gold certificates have
been issued and the s150,0o0,O0O of gold
reserve fund.
| The large amount of the surplus was
unexpected. AT the beginning of the
fiscal year it was anticipated that the
reduction of internal revenue taxes by
| the repeating of the war taxes would
be ST5,000,000, whereas the actual loss
was only s41.764.S66. Owing to the
enormous importation of partly manu-
featured goods the customs receipts
We're greater than those of last year
by s29,434,791.
There was increase of $9,311,697 In
taxes paid on whisky, and the receipts
from miscellaneous sources We're SIS,
727,14S greater than last year, the In
crease being due to phenomenal sales
of public lands in the west. The sources
of the receipts We're:
Customs, $2S3,S91, 719; internal reven-
Ne, s23o115,256; and miscellaneous
s44,SS0,551.
The items of expenditure were:
Civil and miscellaneous, $125,016,512;
increase, $11,546,9SS.
War Gncluding river and harbors),
$11S,549.63S: increase, $6,27746S.
Navy, $S2,696,SO3; increase $14,S93,-
GA.
Indians, s12,s3L556; increase. s2.SS1,-
oil.
Pensions, s1ss.425.61s; decrease, $685.
942.
Interest, s2s,556.61s; decrease, $751;
427.
Total, s5os,176. 500; increase, ss4,9s5..
732.
Available cash balance in treasury
54S,012, a gain OF $19,357,651.
During the fiscal year ending yester-
day, the minis of the United States
coined 205,s91,462 pieces, of which
1a,1s2,s24 were pesos, and various de-
nominations of centavos for the Philip
pines; 100000 for the government of
Venezuela, 100000 for Colombia. The
total value of American coins executed
was s74,203.000. against $94,526,67S in
the previous year.
There was a decrease of $16,27S,S00 in
the value of gold coined, and a slight
increase in minor coinage. Deposits of
gold with the minis and assay offices
during the year. however, increased
$1,722,279, over those of the previous
year. the total being s134,303,10s.
The circulation of the national banks
at the close of business yesterday ag-
gregated s413,67G,650. being an increase
of $56,99S,559 over the previous year.
Five hundred and thirty seven new
banks began business In the twelve
months just closed. being an increase
of more than 100 over those for the pre-
vious year. The number of national
banks which failed during the year was
five. and seventy-two went into voiun-
tary liquidation. A majority Of those
which went into liquidation, however,
were merely consultations with other
banks.
The total money in circulation IN the
United States is $2,375.943,337, being an
increase during last year OF Sl2b,o32,-
1856. Gold certificates alone furnished
s72,957,7SO of this increase, the total
amount of these notes outstanding be-
ing 409,109,S69.
The amount of treasury notes issued
under the law of 1890 has been de-
creased from s3O,o00,0oO on June 80 last
To sig. 243.o0O yesterday, shis withdraw
a, being due to the coinage of silver
bullion into standard dollars and sub
sidiary coins.
The amount of public money depos-
fled with the national banks is $l5l,-
724.432, being an increase of s2.74l,S6a
during the last twelve months. Inc
number of repositories increased from
ga to 40.
Under the offer of the secretary of
the treasury, made on March 26 last.
10 refund SlO0.O0O,000 OF short term 3
end A per cent bonds in exchange for
new per cents, s69.7a3.s00 of per
cents of 1907 and s14,40S600 of per
cents of 1905 have been exchanged up
to Yesterday, when the cffer was with
drawn. In effecting this exchange the
treasury paid out $3,221.024 in cash for
the adjustment of premiums and ac-
crued interest, but the annual interest
charge on the Understanding debt of
the United States has thereby been re-
duced s1.339962. A further reduction
a. ss6l ,437 in the annual interest charge
has been accomplished by the purchase
Of s16.529. 600 of bonds Cor the sinking
fund. The interest bearing debt on
Jrne 30 amounted to s91!,541,410. being
. decrease of s16,52s.a32 during the
year. The 2 per cent consois outstand-
Ing comprised sb20.143.lao OF the total
debt.