New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-10-15
US. TREASURER'S REPORT
REVENUE and EXPENSES.
Surplus of $1e,8e94e8 Ereept T0T
Unusual Payments.

af the United states mas SiiAAl4iN'N
gbavy his report on the transactions OF the i''1-
my IN the fiscal year ended June 80 lSJ4
The net ordinary revenues are shown 70 ia
,oor $3.50 81 40 decrease of $ls.T64.93 as cum
rared with 1905. and the net ordinary eNpenoi'l' ,
$50 s02 go an Increase q s7sSO5SlA Inc pTiielF
ro,,,,, ~ IN ~eceirts S23.215.0l7 in customs
while IN the disbursements the important ncIeass
were 81 423 44G IN Commerce ana iSapoI' s''''00
IN the Treasury proper. and S-o@'H"o' ioi NV 20
s--si,al exuenditures sl9eloc55 on account o.
-. Panama Canal aud sis9ooo0 lcared 70 me
louisiana Purchase Exposition Company inns
loan has been nearly all repaid. Except for these
he recorded deficiency Of Shf'o'9h Nou'e nave
been changed 20 a surplus OF So s-9 ~
rhe ,erat lions affecting the public debt exceeded
those of the preceding year. and amounted to $5Ss
6sosn in receipts and ssSs92437s in disbursements
The aggregate receipts for the year were there-
fore 81 $40 2ss $50 and the aggregate disbursements
q 2l 22 7ol For the first three months of the cur
rent fiscal year the revenues show falling on o.
s6asS78 ana the expenditures increase OF $S,-
O7s5S9.
The trust funds held for tho redemption OF out
standing notes and certificates amounted ct the
end OF the year to S97S 0S8. $50 an increase Of $-
0l5 200 IN twelve months. BY October there was
q further increase TO S.ol477s.s69 The redempoons
Of United States notes in gold amounted to ST.
OgO6s for the year and those Of Treasury notes to
ss7412s.
THE TREAsURY's CASH BALANCE.
In consequence Of the deficiency IN the revenues
the cash IN the Offices Of the Treasury and the Mint
declined ia the year S7oo2o.562 10 slS7 -64
and by October TO S125 S6isSS. The available pal
snce Including deposits in national banks ana
other credits. S23s 6s6 ia on June 80 ~" ana
N5 AAl62 on October J. 1904
Exchanges Of and per cent bonds into per
cents were continued up TO January :, 1874 with
aggregate conversions Of S67Sol0 OF the Is ana
S5g7 go Of the IS. The per cent loan matured on
February ! and was reduced by redcmptiOns before
maturity by s1412 80 and after maturity by 1884,
49, leaving S777.s50. Other changes in the public
debt have been unimportant with the exception OF
the increase in gold certificates. which amounted In
fifteen months more than $ls,000,oe
The increase IA the number of hanks in the year
was ss5 and 90 of these deposited less than 10000
each in bonds to secure circulation and @S less than
$4,000 each. on June 81 a single hank had $1,000
900 IN bonds to circulation deposit while
$50 had less than S25eG0 Bonds public
moneys held for So institutions, in hfty-twO
States and Territories. including Porto Rico in
amounts ranging from $4,000 TO SloO00,ooe me
The State and municipal bonds deposit, which
at one time amounted 10 over s2001e" have grad
ualy been reduced 10 less than SSC1oeoa The sen,i
annual duty paid into the Treasury on circulation
sls2s. SCI. an increase OF Se3o.oi7 over 1903.
An addition OF SlS793,14s was made n the year
70 the monetary stock % the country, and another
SRI 80 $50 IN the following quarter. OF the total
increase, Sllosa4 .sss was in gold. The aggregate
supply on October !, exclusive Of certificates, was
estimated S. 333 3s of which $2.562 ,4S9
in circulation. The proportion OF gold 1876
per cent, against 42l pr cent July l. 1909.
The gain OF gold the Treasury in the period
was s2s8O2S2S3 Deposits Of gold bullion
ceived at the nints and assay Offices 10 the amount
OF Sl75.5sS.565.
placed at S6nsf4SS3 in coin and $4Ss5l2l39 in Ger
1ilcates.
Since July !. 1900, there has been growth Of
S4G3,s9l So in the money in circulation. aver
age of nearly Sl6,0o00J0 year. On october l tho
circulation reached the maximum Of 81 Is for
each person, and the proportion OF gold 1o the
whole IVES 44oS per cent.
SCARCITY OF SMALL BILLS
IL the current nscaI year the demand for small
bills IN spite Of al previous additions, has been
unceasing Experience has made It clear that the
stock Of small notes IS hardly sufficient The de-
yaFtment has employed all lis resources but these
limited for the issue Of silver certificates can
not exceed the silver dollars available and the
United States notes have volume fixed by lax.
The report says.
rms CONDITION Of things might be remedied by
t,ongress without Initiating he currency First tie
- and SO might b. al-ho~ized second srci cor
7hcates, TO the amount q s50@900e. might be sub
stituted a. once Tor United states notes by the
application OF usat sum from the reserve. Third.
ISrt OF lhelr circulation n s. notes by the repeal
~ ne proylslol .llo" .g only one.ihHd Of me
OF the receipts for customs at the port Of New
York. amounting TO N7c.is5lsl. the proportion of
gold was $50 per cent The imports Of gold were
Sss,a65.3H ana the exports 1855.
The deposits in Aew-YCrk for payment by tele-
graph chiefly IN Chicago and New-Orleans, for
moving the crops amounted in the calendar year
1905 10 SS5.l5a659 and in the first nine calendar
months OF 1904 10 E5. as Do
RECEIPTS OF GOLD.
Cold Of which sslsso3n was in japanese yen.
nO&o61s in other foreign coins and S9O05s02 IN ore
making altogether S-L7s6743 was deposited I'm the
last fiscal year in san Francisco for teleeraphlc
exchange
The national hank notes presented for redernD-
non N Inc year amounted 10 l4l $50
per cent OF the average outstanding. This is he
highest record for any year az the thirty IN which
these notes have been redeemed by the Treasurer.
From June 81. 1888 TO june 81 1904. there was a
let Increase of Z s03 in the number Of banks max
ING total OF 1850. While there has been 4 large
increase IN the amount Of notes outstanding he
increase IN the yearly Fedemptions has been larger
For the first quarter Of the current fiscal wear t
presentations exceed those Of the period in
1888 by nearly - per cent.
The movement Of silver dollars from the Treasury
was a little over 81 O9o,NH and the shipments for
she current year show an increase over last. Sill
Yer dollars 10 the amount OF SS6oss.514 pre-
scented IN the year at the Treasury Offices for tx
change into other money.
An addition Of $3.50 GA made 10 the sgbsid-
3aTy silver coin IN circulation carrying the total I'm
10 sS5526,SE3. The disbursements these coins for
various purposes amounted 20 than SO eOo IN
sSs.lA4 IN 1875 Minor coins not included n the
general statements Of circulation, Yet volume ~
no less than SSs 1898 IS shown have coined
and not remelted An increase OF sl5S3 m, tool-
wear. Of which ,,ea,i,- -. ~, n
I'VE cent nickel pieces and the remainder IN ror1a
cents. The redempuons were s5.5S7482. Worn gold
value Of Sl453el ana the latter Of 81 SIS $50 we're
leootned- The loss was Sl.S47 the gold ana
Sl22 on the silver The good condition Of The cur
Tency Is shown by the fact that the Treasury, ees
detected only Sl2,7l4 in nominal value Of spurious
ISSUES.