The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1904-10-21
Finances OF THE
united States
TREASURER ROBERTS SUBMITS
HIS Al.-IUAL REPORT TO
SECRETARY SHAW.
EXPENDITURES AND
RECEIPTS FOR A YEAR
Purchase of Panama Canal and Loan
to st. Louis Fair Cause Deficit of
over $41, ITO, OoO-An Increase in
Number of Banks.

Over Sal, ITO, OOO-An Increase in
Number of Banks.
Washington, Oct. 17.-kllis H. Rob-.
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 ~,
1904
The net ordinary revenues are shown
to have been $540,631 ,749, decrease OF
s19, 764,925 as compared with 1903, and
the net ordinary expenditures 1882, 4O2,-
321, an increase of $76,303,314 In the
receipts the principal falling off was
$23, 205, OF in customs, while in the dis
bursements the important increases were
81, 423.44 in commerce and labor, $780,
7SS,5S0 in treasury proper and $2O,33S,-
OCT for the navy. Unusual expenditures
were $50 1000 900 on account of the Pan
anna canal and $4,600,000 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 surplus of s12,S29,428.
The Public Debt.
The operations affecting the public
debt exceeded those of the preceding
year and amounted to $500, $50, 941 in
receipts and $63S, ,379 in disburse
ments. The aggregate receipts for the
year were therefore 81 ,240 ,292 $50, and
the aggregate disbursements 81 ,221 1885,
701. For the first three months of the
current fiscal year the revenues show
falling off of $6,516,373 and the expen-
ditures an increase of s1S,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 $40, ,562 to $137 ,52O.-
2O4, and by October l to $125, 1864, 1888.
The available balance, including de-
posits in national banks and other
credits was $23S, $3.50, ia on June 80, 1903,
and $151, Ala 1862 on October 1, 1904.
Increase in Banks.
The increase in the number of banks
deposited less than 100000 each in
bonds to secure circulation and 3S1 less
than 100000 each
An addition of $118 1913, 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, 469 was in gold. The
aggregate supply on October 1, exclusive
of certificates, was estimated at $685.
1873 1874 of which $2,562, 149, 4S9 was in
Circulation of $31.16 Per Capita.
growth of $463, 991 1862 in the money in
or an average of nearly
S116, 100000. On October l the circula-
ton reached the maximum of $31 16 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 1862 ,141 $50, or 81 IL per
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
The movement of silver dollars from
the treasury was a little over SAL ,0OO,-
600, and the shipments for the current
year show an increase over last. Sill
yer dollars TO the amount of $46,O98,.
314 were presented during the year at
the treasury offices for exchange into
other money.
An addition of $2,S01 ,644 was made
to the subsidiary silver coin ia circu-
lation, carrying the total up to $685.
528,343. The disbursements of these
coins for various purposes amounted
to more than $29, 100000. The redemp-
tons were $40,375, 49, as against $40
959, PA in 1903.
Minor Coins.
Minor coins are not included in the
statements of circulation; yet
a volume of no less than $38, 1853 is
shown to have been coined and not re-
melted. An increase of 1883, 715 took |!
place during the year, of which nearly
81 100000 was in five cent nickel |
pieces and the remainder in bronze |
cents The redemptions were $685.
1872.
Worn gold and subsidiary silver |
coins, the former of the face value of |
81, 473,391 and the latter of $2,S28,3S |
were recoined. The loss was $11,347 |
On the gold and s172,28O on the silver.
The good condition of the currency is !
shown by the fact that the treasury |
offices detected only $12,714 in nomi-