The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1904-10-20
PAID OUT MORE
THAN Received
DEFICIT OF $41,77o,571 BETWEEN
RECEIPTS AND EXPENDI-
TUREs OF THE TREASURY.
Purchase of Panama. Canal and Loan
to Louisiana Exposition Account
for It-Treasurer Roberts Makes
Report.


erts, treasurer of the United States, has
submitted to Secretary Shaw the annual
report on the transactions of the treas
ury during the fiscal year ended June 80,
1904.
The net ordinary revenues are shown
to have been $54O,631 ,749, a decrease of
$19, 764,9 1926 as compared with 1903, and
the net ordinary expenditures $751;, 4O2,-
321, an increase of $776,303,3 14. In the
receipts the principal falling off was
$23 ,205, OF in customs, while in the dis
bursements the important increases were
$11 ,423.44 in commerce and labor, $780,
1855 in treasury proper and $40 $685.
067 for the navy. Unusual expenditures
were $50 900 900 on account of the Pan
anna canal and $4,000 900 loaned to the
Louisiana Purchase Exposition COM
pany, which latter has now been nearly
all repaid. But for these, the recorded
deficiency of SAL, 77O,571 would have been
changed to a surplus of $12,S29, 42S.
The Public Debt.
The operations affecting the public
debt exceeded those Of the preceding
year and amounted to $699 $685. in
receipts and $63S, 924,379 in disburse-
ments. The aggregate receipts for the
year were therefore 81 ,240, 292, $50, and
the aggregate disbursements 1,221 1885,
FOL. For the first three months of the
current fiscal year the revenues show
a falling off of $6,516,373 and the expen-
ditures an increase of $1S,O73,539.
In consequence of the deficiency in
the revenues, the cash in the offices of
the treasury and mint declined during
the year from $170 ,O20,562 to $137 $780,
2O4, and by October l to $125 1864, 1888.
Increase in Banks.
The increase in the Number of banks
during the year was 1896 and of these 262
deposited less than 100000 each in
bonds to secure circulation and 381 less
than $4,000 each. On June 80 a single
band had on deposit $40 ,000, 900 in bonds
to secure circulation, while 1870 had
less than $4,000.
Supply of Money.
An addition of $11S,793, 14S was made
during the year, to the monetary stock of
the country and another of $31 1929 ,599
in the following quarter. Of the total
increase $110,S ,469 was in gold. The
aggregate supply on October 1, exclusive
of certificates, was estimated at 81, 1885,,
1888, 734, of which $2,562, 149,4S9 was in
circulation. The actual gold coin in
circulation on October l is placed at
$641 ,S44, 1863 in coin and $4S6, 512, 139 in
certificates.
Circulation of $31.16 Per Capita.
Since July 1, 1900. there has been a
growth of $463, 991 1862 in the money in
circulation, or an average of nearly
$4,000 OOO On October 1 the circula-
ton reached the maximum of $31.1 for
each person, and the proportion of gold
to the whole was 44.03 per cent.
Bank Notes Redeemed.
The national bank notes presented
for redemption during the year
amounted to $262,141 $50, or 61.12 per
cent. of the average outstanding. This
Is the highest record for any year of
the 30 during which these notes have
been redeemed by the treasurer.
An addition of $2,SO1 ga was made
to the subsidiary silver coin in circu-
lation, carrying the total up to $685.
52S.343.
Minor coins are not included in the
general statements of circulation; yet
a volume of no less than $38,149,519 is
shown to have been coined and not re-
melted. An increase ef 81 ,583, 715 took
place during the year, of which nearly
$1,O00,O00 was in five cent nickel
pieces and the remainder in bronze
cents. The redemptions were $751;
1872.
Worn gold and subsidiary silver
coins. the former of the face value Of
$1,473,391 and the latter of $2,S2S,384,
were recoined. The loss was $11,347
on the gold and SLIP 2S0 on the silver.
The good condition of the currency is
shown by the fact that the treasury
offices detected only $12,714 in nomi-
nal value of spurious issues.