The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1904-10-15
ROBERTS MAKES
ANNUAL REPORT
Treasurer of United States
Gives the Finances of
Nation for Past Year
FIGURES SHOW DEFICIT
Excluding the Canal Money
and Loan to the Fair
the Result Is a Surplus

WASHINGTON, Oct. 14.-Ellis II.
Roberts, Treasurer Of the United
States, has submitted to Secretary
Shaw the annual report of the trans
actions OF the treasury during the ifs
cal year ended June 30. 1904.
The net ordinary revenues are shown
to have been $40, 631, TAG, a decrease Of
SO, 764, 925, as compared with 1903, and
the net ordinary expenditures $685.
402,321. an increase of SIC, 1903. 314. In
the receipts the principal falling off
was S23,205, OF in customs, while in
the disbursements the important in
creases were 81, 423.4 4O in commerce
and labor; $50. 7SS.5s0 in the treasury
proper and $50, 1913, OCT for the navy.
Unusual expenditures were $50 900
on account Of the Panama canal and
$4,600.000 loaned to the louisiana Pur
chase Exposition Company. which lat
ter has now been nearly all repaid But
for these, the recorded deficiency of
Sn,770,751 would have been changed TO
a surplus Of $12829. 42S.
The operations affecting the public
debt exceeded those of the preceding
year and amounting to $699, 660,941 in
receipts and $685., 924,579 in disburse
ments. The aggregate receipts for the
year were therefore S1,240, 292, $50 and
the aggregate disbursements $1,221, 1885,
701 For the first three months of the
current fiscal year the revenues show
a falling off of S6,516,373 and the expen-
ditures an increase of $1S,073, $50
The trust funds held for the redemp-
ton Of outstanding notes and certifi-
Gates amounted at the end Of the year
to $92S, 0S4, 569, an increase of $50, OILS, 700
in twelve months. By October L there
was a further increase to 81, Ola, 779 1863.
The redemption OF United States notes
in gold amounted to $11, ,O68 for the
year and those of treasury notes TO
$474,12s.
In consequence of the deficiency in
the revenues the cash in the offices of
the treasury and minis declined dur
ing the year from $40, O2O, 562 to $751;
$40, 204, and by October L to $125, 964.-
SSS. The available balance, including
deposits in national banks and other
credits, was 1898, $50. ia on June 80, 1903, /
and 1851, Ala 1872 on October 1, 1904.
An addition Of Sis, 793, Jas was made
during the year to the monetary stock
of the country and another of $31, S29,-
500 in the following quarter. OF the
total increase S110, SO4, 469 was in gold.
The aggregate supply on October 1, ex-
elusive of certificates. was estimated
at 81, S35, 3SS, 124, of which $2.562, 149, 4s9
was in circulation. The proportion of
gold was 47.66 per cent, as against 4421
per cent July 1, 1900 The gain of gold
to the treasury in the same period was
SIS, OBS, 223. Deposits of gold bullion
were received at the minis and assay
offices during the year to the amount
of $175, 500, 565. The actual gold coin in
circulation on October 1 is placed at
S641, S44, 1863 in coin and $4S6, 512, 139 in GER
tificates.
Since July 1, 1900, there has been a
growth of S463, 991. s62 in the money in
circulation, or an annual average Of
nearly Sic, 900, 900. On October the cir
culation reached the maximum of
s31.16 for each person.
In the current fiscal year the demand
for small bills, in spite of all previous
additions, has been unceasing. Elk
perience has made It clear that the
stock of small notes is hardly sufi-
all it's resources, but these are limited,
for the issue of silver certificates can
not exceed the silver dollars available
and the United States notes have a
volume fixed by law. The report says:
"This condition of things might be
remedied by Congress without initiating
the currency. First, the issue of gold
certificates of the denominations Of S.
and $40 might be authorized. Secondly,
such certificates to the amount Of $780,
000 900 might be substituted at once for
United States notes by the application
of that sum from the reserve. Thirdly,
the national banks might be permitted
to issue any part Of their circulation in
So notes by the repeal of the provision
allowing only one-thfrd of the total is
sue of each institution in that denon-
nation"
Gold, of which $31, $780, Pei was in jap
anese yen, s1O,9OO,579 in other foreign
coins and $1,000, 1902 in ore, making al
together $51, 796, 743 was deposited I'm
for teIegraphic exchange.
The movement of silver dollars from
the treasury was a little over 81, O0O, 600
and the shipments for the current year
show an increase over last. Silver dol
lars to the amount of $46,09s ,314 were
presented during the year at the treas
ury offices for exchange in other money.
An addition Of $2,S01, 644 was made TO
the subsidiary silver coin in circulation,
carrying the total up to SOS. 528, S48.
Bandit RaiSuIi Again Heard From.