The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-10-01
OF THE
U. S. TREASURER
Increase Of $50, 988.439 10 the
TotaI Net Revenues.
EXPENDITURES ALSO LARGER
MONETARY STOCK OF COUNTRY
rs So, ese, las, 621.

Washington. Sept. 3O.-Eliis II. Rob
erts, treasurer Of the United States,
has submitted his report to Secretary
shaw on the condition of the treasury
on June 9. 1903. and fits operations dur
ing the past fiscal year. The total net
revenues for the year were S560396 6l3,
an increase OF S2S. 9SS.439 over the year
preceding. and the total expenditures
S506. 099 COZ. an increase of $35, Isl ,03f.
The surplus was S54.297, go. as COM
pared with S91 .297,315 in 1902. In the
receipts there WAS an increase Of more
than S3Q000.000 from customs. and
falling off of over S4l000,00O from inter
nal reVenue the latter being the result
of legislation enacted with that object
on the side Of eNpediures there was
an Increase in every important account
except pensions and interest in which
there were slight savings. The expen-
ditures for the two military depart
ments. which together amounted TO
S19t, 227 .5J4 forming by far the heavi-
est outlay for any single purpose, were
more than S21 100000 greater than the
year before.
Aggregate Income.
The aggregate income including. be-
sides the revenues. the receipts from
bonds. notes and coin rcertfdca ties. WIS
$l2ll .3g4 097 and the aggregate outgo
$l,l2Z. 81, 667- at the close OF the wear
the treasury held S9S3.06S. $50 Of gold
and silver on deposit against oustand-
I ing certificates and treasury notes. be-
sides the $i50.000000 in gold which
forms the reserve against United States
notes.
Treasurer Roberts places the none
taIy stock of the country on June 80,
1903. including gold and silver. United
states notes, treasury notes and ma
/ tonai bank notes, but not certifca ties,
1 at S2.6SS.149, 621, an increase Of SPARSE
/ 963 for the year. The increase in gold
/ was S6013L401, and in national bank
/ notes. $56. 1913 $50.
The total estimated stock Of gold
/ was Sl252. 731 $780, constituting nearly A.
! per cent Of the whole. The gold in the
/ treasury amounted to S631. 400. 7S9, after
I a gain OF $71,220. $50 in twelve months.
During the year $126. Il5 723 i'm gold was
I deposited at the minis and assay Of
; fees OF the receipts from customs at
the port Of New York. constituting 81
/ per cent of the whole. So per cent were
! I'm gold. The proportion Of gold at
other ports is about so per cent The
imports of gold We're S440S2.092. and
the exports S47.09O,595
Per Capita Increase.
L The increase OF the money in circula-
ton during the year was 1921. 740, 252 of
which S59,7T6 462 was in gold and gold
certificates and $54, 520193 in national
/ bank notes. The share Of money for
each person increased 50 cents, and the
( proportion Of gold TO the whole rose
to AZ per cent, the highest ratio ever
recorded.
There has been a continual increase
in the proportions of paper currency
! Of the denominations Of $40 and under
! in circulation, but the growth hardly
keeps pace with the demand. The sup
ply can be increased If congress will
authorize the issue of gold certificates
for SO and remove the restrictions on
the issue of So notes by national banks
To meet the constant pressure requires
strenuous effort in the preparation of
the currency issue. The national bank
notes presented for redemption during
the year amounted to S196. 429. 621. or 81
per cent of the average outstanding
Of the S. notes the redemptiOns were
So per cent of the Sos, 46 per cent. OF
the Sos. 40 per cent; of the S5Os 81
per cent, and of the S100s. % per cent
These figures show that the SO and
SOS remain in circulation the longest