New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1904-10-19
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.

L.,
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 81,
1904
The net ordinary revenues are shown
to have been $54O ,631, 749, a decrease of
b19,764, 1925 as compared with 1903, and
the net ordinary expenditures $582, 4O2,-
321, an increase of $776, 1903, 314. In the
receipts the principal falling off was
$23, ZOE, O17 in customs, while in the dis
bursements the important Increases were
S11 ,42344 in commerce and labor, $780,
1888, $50 in treasury proper and $2O,3333S,-
OCT for the navy. Unusual expenditures
were $50 100000 on account Of the Pan
anna canal and $4,600,O00 loaned to the
Louisiana Purchase Exposition COM
pany, which latter has now been nearly
all repaid. But for these, the recorded
deficiency Of $41, 770,571 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 $699,66O,94l 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 $l,22l, 1885,
701 For the first three months OF the
current fiscal year the revenues show
falling off of Sc, 516,373 and the expen-
ditures an increase of $1S,073, 539.
In consequence of the deficiency in
the revenues, the cash in the offices Of
the treasury and mint declined during
the year from $40, O2O,562 to $137 $780,
2O4, and by October 1 to $125,964,SSS
Increase in Banks.
The increase in the number of banks
during the year was 395 and of these 262
deposited less than 100000 each in
bonds to secure circulation and 381 less
| than 100000 each. On June 80 single
band had on deposit $40 100000 in bonds
to secure circulation, while 1920 had
less than $4,000.
Supply Of Money.
| An addition of $118, 1893, 148 was made
during the year to the monetary stock of
the country and another of $31 1925, 599
in the following quarter. Of the total
increase $110, 1904, 1853 was in gold. The
aggregate supply on October 1, exclusive
of certificates, was estimated at 81 1885,
1913, 734, of which $2,562, ,489 was in
circulation The actual gold coin in
circulation on October 1 is placed at
$641, S44, 1863 in coin and S486,512,139 in
certificates.
Circulation of $31.16 Per Capita.
Since July /, 1900, there has been a
circulation, or an average OF nearly
$116, 900 ,0O0 On October l the circula-
ton reached the maximum of $31. 16 fol-
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 veal
amounted to $262,141, $50, or CLIP pei
cent. of the average outstanding. This
is the highest record for any year Of
the 80 during which these notes have
been redeemed by the treasurer.
An addition of S2,801,644 was made
to the subsidiary silver coin in circu
1ation, carrying the total up to $95,
528. 343.
Minor coins are not included in tn
general statements of circulation; ye
volume of no less than S38,149,519 i
shown to have been coined and not re
melted An increase of 81, 1871 tool
. place during the year, of which nearl
100000 was in five cent nicke
pieces and the remainder in bronz
cents The redemptions were s5,587,
1872.
Worn gold and subsidiary silve
coins, the former of the face value Q
) $1,473,391 and the latter of $2,828,384
were recoined The loss was $11, "a
on the gold and $172,2s0 on the silver
The good condition Of the currency
I shown by the fact that the treasur
, offices detected only $12,714 in nom
I; nal value of spurious issues.
f CRANE TO SUCCEED HOAE