Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1904-10-21
REPORT or ELLIS H. ROBERTS.
OF. UNITED STATES
MAKES A STATEMENT.
The Panama Canal and Loan to tho
Worlds Fair Caused Def
cheney During the Last
Fiscal Year.

Washington, Oct. 15.-Ellis H. Rob-
has submitted to Secretary Shaw the
annual report on the transactions of
the treasury during the fiscal year
ended June 80, 1904.
The net ordinary revenues are
shown to have been $40, ,749, de-
crease of $19,764,925 as compared with
1908, and the net ordinary expendi-
lures $5S2, ,402, 1921, an incresase of $780,
S03,314. In the receipts the principal
falling off was $23,2O5,017 in customs.
while in the disbursements the i'm
portant increases were $11, ,423,446 in
commerce and labor S60,7SS,5S0 in the
treasury proper, and $20,3SS,067 for
the navy.
Unusual expenditures were $50,000,-
900 on account of the Panama canal
and $4,600,000 loaned to the Louisiana
Purchase Exposition Co., which latter
has been nearly all repaid. But for
these, the deficiency of $41,770,571
would have been changed to surplus
of $12,S29,42S.
The operations affecting the public
debt exceeded those of the preceding
receipts and $63S,924,379 in disburse-
ments. The aggregate receipts for the
year were therefore $1,240, ,292, 500 and
the aggregate disbursements S1,221,-
S26,701. For the first three months of
the current fiscal year the revenues
show falling off of $6,516,373 and the
expenditures an increase of $1S,073,-
539.
The redemption of United States
notes in gold amounted to s11,0S1, ,06S
for the year, and those of treasury
notes to S474,126.
In consequence of the deficiency in
the revenues, the cash in the offices OF
the treasury and mint declined during
the year from $170,020,562 to S137, $780,
264, and by October l, to $125, $685.
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 SS1 less than S500,000 each. On
June 80 a single bank had on deposit
S10,000,000 in bonds to secure circula-
ton, while 1852 had less than $25,000
Bonds to secure public moneys were
held for $40 institutions in 81 states
and territories, including Porto Rico
in amounts varying from $4,000 to
S10,000000. The state and municipal
bonds on deposit, which at one time
amounted to over S20,000,000, have
been gradually reduced to less than
S3,000,000. The semi-annual duty paid
into the treasury on circulation was
S1,92S,S37, an increase of S220017
over 1908.
An addition of $11S,793,14S was
made during the year to the monetary
stock of the country and another OF
$31, 1,S29,599 in the following quarter.
Of the total increase S110,S04, ,469 was
in gold. The aggregate supply on Oc-
tober 1, exclusive of certificates, was
estimated at $2,S35, ,333, ,734, of which
$2,562, ,149, ,4S9 was in circulation. The
proportion of gold was 47,66 per cent,
.gainst 44.21 on July 1, 1900. The
gain of gold to the treasury in the
same period was $286,03S,233.
The actual gold coin in circulation
on October 1 is placed at $641 ,S44, 1868
In coin and $4S6,512,1S9 in certificates.
Since July l, 1900, there has been a
growth of $463, ,991 1862 in the money in
circulation, or an average of nearly
$116,000,000. On October the circula-
tion reached the maximum of $31.16
for each person, and the proportion of
gold to the whole was 44.03 per cent.
The national bank notes presented
for redemption during the year
amounted to 1852, ,141 $50, or 61.12 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.
From June 80, 1899, to June 80, 1904,
there was net increase of 1903 in the
number Of banks, making total of
$3.50.