The Montgomery advertiser., 1904-12-31
TREASURY OPERATIONS
REVIEW FOR THE CALENDAR YEAR
 OF 1904.
Receipts Amounted to s54OOOO GOO. While the Expenditures Were $5dz,O00O0O, Including S4O,- 100000 for Payment for
 Panama Canal,

Washington. Dec. 30.-The Treasury Department today issued a review of treasury operations for the calendar year 1904
 The treasury receipts for the calep- dar year 1904 were $540, 1000, 900 and the expenditures for the calendar year dn- cludlns the Panama payment) $562,- oou.ooo. deficit for the year of s22.- 100000. As compared with the preyi- ous calendar year, the net receints show falling off of $S.0O0,O00 and the expenditures an increase of $50. 900. The decrease in customs receipts was $9.0OO,O00. Civil and miscellaneous expenditures increased $15 1000, 900. War Department $9,o00,0Oo, Navy Depart ment $23.000,O00; pensions, $2,O0O, 900 and interest $1.000,0oO.
 The increase in interest is due to the fact that d portion of the interest of l9oS was anticipated in 1902. The figures do not include the postal re- ceipts and expenditures. except that the postal deficit is included in the civil and miscellaneous expenditures.
 Imports for the first eleven months or 1904 were $939.000,00O, an increase over the corresponding period In 1903 of $22.00o,O0O.
 Imports free of duty for the same period increased $42.000,00O, while dutiable imports decreased $20.00O, 900. In 1903. 43 1-2 per cent of the imports were free of duty. while in 1904 AT per cent were free of duty. Practically the entire increase in free imports was in. three articles. coffee, India rubber and raw silk. Although dutiable inn ports decreased $20,00O, 900, raw sugar and wool show increases .agRreRat- ing $2s,OOO,O00. All other dutiable im- ports decreased nearly $50, 0,0OO,O 900. Of this decrease $20.00O.000 was iron and steel.
 Other noteworthy features of the treasury transactions in 1904 were the payment, out of accumulated surplus of $5O,0O0.000 for the right of way of the Panama canal; the redemption of the outstanding per cent bonds due February l, 1904; and the various calls on the national bank Repositories for the return of portion of their public deposits. The redemption of 5s dur ing the calendar year was approximate ly $6,000,000. Public funds on deposit at the banks were reduced from S166.- OO0,QO0 January 1, 1904 to $113,000, 900 at the close of the year. The calls on the banks to mature early in 1905 will further reduce these deposits and replenish cash in the general fund of the treasury to the extent of $23,OOO,- 900.
 The cash in the treasury, exclusive of the gold reserve and gold and sill yer coin held against outstanding cer- tificates was $S2O.OOO,O00 on January 1 1904. At the close of the year 1t was $240.00o.000, a decrease of $50 ,o0O, ,O0O for the year. The Panama payment accounts for $5O.oO0,OOO of this de | crease.
 The redemption of the 5s of 1904 and national bank note redemptions account for $10,000.00O more. The balance is due to the deficit incurred in carrying on the ordinary operating expenses of the government. For the first six | months of the current fiscal year the | deficit is approximately $22,O0O,OO0 The balance of the year will proba- bly, reduce rather than increase the deficit. Receipts show a tendency to increase. The greater part of the postal deficiency for this fiscal year already has been met, and the expen- diture for various. kinds of public works will be less for the next six months than for the six months just closed. Nearly $1O,00O,OO was dis bersed in the last half of the last fiscal year on account of the Louisiana Pur- chase Exposition.