The Savannah morning news., 1904-12-08
UNCLE SANS
CASH ON HAND
JUNE 30 WAS S172,ooo,oo0.
THE YEARS EXPENDITURES WE'RE
s76,OOO,OOO GREATER THAN IN 1908.

the Worlds Fa1r-A FaIl1nS OH III
Revenues of Nearly f2O,OOO,OOO
Secretary Shnw's Review of the
Financial Condition of the COun-
try.
Washington. D. c.. Dec THE an
nual report of the Secretary of the
Treasury for the year ending June 80,
was made public to-day. The available
cash balance in the general fund on
that date was $172,O51, 56SO2, which is
less by $50, 634 546.2l than the balance
on June 80, 1908. The Panama canal
payments, the redemption of the out
standing IS of 1904, and change in
the ratio of the revenues to the expen-
ditures contributed to this result.
OF the revenues in 1904, compared
with 1903, customs show a decrease of
1923, POS, OH, and the receipts from pub
lie lands are less by $1.472, S31.50, while
an increase appears in internal rev.
enue of $2,O9S. 995.2S, and in miscellan-
eous items of $2,S1S,92S.25. The net re-
suit is a decrease in ordinary reve-
nues for the year of $19,764, 925. There
was an apparent net increase in ordi-
nary expenditures of SIC, 1903, 314.27, but
this includes the payment of $4,000, 900
on account of the Panama canal and
loan of $4 500, 900 to the Louisiana Pur-
chase Exposition Company. The latter
sum has since been reimbursed. For
The first quarter of the fiscal year 1905,
the revenues were $13S, 034, 1927, the ex-
penditures $155, S91 ,O7737, an excess of
expenditures over receipts of 81, $780,
els.
National Bank Deposits.
The deposits in national banks to the
credit of the general fund attained a
maximum al $159, Ill, 708.15 on Dec. 10.
1903 Three calls were issued during
the year on the depository banks for
the return of part of the public mon
eys deposited with them. They re-
sponded with promptness, paying back
the sums required of them, and the
balance in the banks to the credit of
the general account at the end of the
fiscal year became $102, 29O, S63.64, a re-
duction of $50, $50, S4451 from the maxi
mum balance, and of $37.936.271.61 as
compared with that of twelve months
before.
The trust funds are $S5 015, 700 greater
at the beginning of the fiscal year 1905
than twelve months earlier, by reason
of an increase of SS5, $40, 700 in gold GER
tificates, $5,770O00 in silver certificates
and a decrease of 1926, 900 in treasury
notes.
Transactions in the interest-bearing
public debt resulted in a net reduction
in the principal of SIS, 3S3,970 and a de-
crease in the annual interest charge of
$1,364, S2S.3O.
Bank Notes Redeemed.
The national-bank notes presented
for redemption during the year
amounted to S262,141, $50, or Clip per
cent of the average amount of the
notes outstanding. Compared with
1903, this sum is $65, IL, 1903, or 80. As per
cent. larger, and 1t is the maximum
presented in any year in the history of
such redemptions. The total expenses
were $2ls,O93.13, which sum was as
sessed upon the several banks in pro-
portion to their circulation redeemed.
at the rate of S0.S4716 for each 81 600
This rate of expenses is 5546 cents less
than the lowest rate heretofore re-
corded. The national-bank notes pre-
sented for redemption during the first
quarter of the fiscal year 1905 were
$7O247,5S6, an increase of 81, so, 579, or
1873 per cent, over the corresponding
period of 1904.
The Country's Money.
The total stock of money in the
country at the close of the fiscal year
1904 was $2,S0S. 1904, 1876, an increase of
SIZE l4S over the preceding year
The share of gold, which July 1, 1900,
was 44.2l per cent, became 4735 on
the same date in 1904. A large part
of the Increase in gold has settled into
the treasury vaults. Between July 1.
1900. and July l. 1904, the treasury has
gained in gold $25S, 260. 9.92, the total
holdings of gold on the latter date
to 1851, 1898, S21. so, with a fur
Their increase to 1921, 1858, ss7. So on Oct.
81 va W.
The extraordinary amount of s42.1ss.-
2SzS4 in foreign gold coin and bullion
and $2s, 15S. 970S1 in domestic bullion
was deposited in the mint at San Fran
cisco during the year and paid for by
the local Office or by telegraphic ex-
change on New York.
Money i'm Circulation.
The money in circulation July /. 1904
amounted to $2.519.142, $50, a per can
ita circulation of $30.77. The percent
age of gold was ALP.
notable fact is that. with an addi-
ton of IL per cent. to the POPULATION
in the year. the increase in the cir
culation per capita has been AS per
cent.
BY Oct. /. there was further in
crease in circulation of SAB, 0O6, 62e, and
the circulation per capita reached the
maximum at $31 .16, while the share of
gold became 44.03 per cent.
Small Bills in Use.
The amount of public money of the
denomination Of $40 and under in pa
per was increased during the year
ended Sept. 80. 1904 by Sal. 5.21s. or
3.lI per cent; of the denomination of
$50 and over. the growth was s106. 335.-
725. or 29. O1 per cent, owing to an nm
usually large issue of gold certificates.
The demand for small bills has been
unceasing, becoming more urgent in
the autumn, as in other years. The
appeal is not confined to any partic-
ular district. II comes from the cot
ton and sugar regions, as well as from
the states which produce wheat and
corn. cattle and swine. The depart
ment has employed all its resources to
respond to this demand: but the sup
ply of small notes IL insufficient.
To assist in the movement OF the
crops, transfers of funds are effected
through the medium OF the general
fund. and for deposits OF large gold
certificates in New York payments are
made at other treasury offices OF sill
yer dollars. silver certificates and
United States $40 notes.
Paper Currency Issued.
The United States paper currency is
sued during the year amounted to
$3.50 026,O00. an increase OF Is per cent d,
with a growth Of SO per cent. I'm the
number OF pieces. The redempti0ns
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