The Fulton County news. [volume] (McConnellsburg, Pa.) 1899-current, 1904-10-19
REPORT OF U.S.. TREASURER
Transactions Of the Treasury During
The Past Year.
The DEMAND FOR SMALL BILLS.
The Expenditure Of 100000 900 for The paoama
Canal and the Loan Of s4,60o,0o0 10 the
ST. Louis Exposition Responsible for the
Recorded Defleieuey--Inerease 10 Number
Of Banks.

Washington, d c. (SpeciaD Ellis
II. Roberts, treasurer Of the United
States, has submitted to Secretary
Shaw the annual report on the trans
actions Of the Treasury during the
fiscal year ended June 80. 1904.
The net ordinary revenues are
shown to have been $54o,63I,74o. a
decrease OF SIo,764,o25, as compared
with 1908, and the net ordinary expen.
ditures $5S2,4o 1921, an increase of
7o,3o33I4. In the receipts the prin-
cipal falling off was S23, ,2o5,oI7 in Gus
toms, while ip the disbursements the
important increases were $Gi,423,446
in commerce and labor, 500. 78S, $50 in
treasury proper and $2o,338,o67 for
the Navy. Unusual expenditures were
$4,000, 900 on account of the Panama
Canal and $4,000, 900 loaned to the
Louisiana Purchase Exposition Com.
pany, which latter has now been near
ly all repaid. But for theseethe re-
corded deficiency OF $4I,77o,57I would
have been changed to surplus of $l2,-
S2o,428.
The operations affecting the public
debt exceeded those Of the preceding
year and amounted to 5000 66o,o4I in
receipts and S63S.o24,37o in disburse-
ments. The aggregate receipts for
the year were, therefore, S., ,24o, ,2g2,-
6oo and the aggregate disbursements
$I,22I, ,3z67oI For the first three
months OF the current fiscal year the
revenues show falling off Of $6,sI6,-
Al, =
of $IS,o73,53o.
Cash on Hand.
The trust funds held for the re-
demption OF outstanding notes and GER
tihcatcs amounted at the end OF the
year TO So78 8o84, 500, an increase Of
$S5,oI5,7oo in IL months. By Octo
Der I there was a further increase OF
SI,oI477o,o6o.
The redemption OF United States
notes in gold amounted TO 1881,
1863 for the year, and those Of the
Treasury notes TO $474,l2G,
In consequence OF the deficiency in
the revenues the cash in the Offices
of the Treasury and the Mint declined
during the year from $4,000, ,s62 to
SI37, SIC, ,2o4, and by October TO
$I25,o64 1888. The available balance,
including deposits in national banks
and other credits, was $23S,686,II4 on
June 80, 1903, and $I5I,4I4,I62 on
October /, 1904.
Exchanges of q and 3 per cent
bonds into per cents were continued
up to January 9, 1904, with aggregate
conversions OF $I6,7o5,Ioo OF the IS
and $s,o7I,7oo of the 3s The s per
cent. loan matured February /, and
was reduced by redemption before ma
turing by $I4,7I2,45o, and after ma
turity by S3.8o4,75o, leaving $777,S5o.
Other changes in the public debt have
been unimportant, with the exception
of the increase in gold certificates
which amounted in IS months 10 more
than $IIo,ooo,ooo.
New Banks Established.
The increase in the number Of banks
during the year was 3o5, and OF these
262 deposited less than 100000 each
in bonds TO secure circulation, and 38I
less than 100000 each. On June 80
a single bank had on deposit SIo,-
ooo, 900 in bonds to secure circulation,
while 1890 had less than $3.50
Bonds to secure public moneys were
held for 842 institutions in 81 states
and territories, including Porto Rico,
in amounts varying from $4,000 to
$40, 900 or more. The state and
bonds on deposit, which al
one time amounted to over $40
900, have been gradually reduced to-
less than S,,ooo,ooo. The sem-annual
duty paid into the Treasury on circu-
lation was SI,o2S.837, an increase Of
S22OOIz over 1904