The Birmingham age-herald., 1904-10-15
Roberts Makes Rep0fI to Sec
 Tetag Shaw
EXPENDITURES INCREASE
Net Ordinary Revenues Are Shown ts Have Decreased as Compared With Those of Last
 Year.

Washington, October 14-Elis IL Rob. erts, treasurer of the United States. has submitted to Secretary Shaw the annual report on the transactions of the treasury during the fiscal year ended on June 30, 1904
 The net ordinary revenues are shown to have been $540, 6s1.749 a decrease of N9764,945 as compared with 1905 and the net ordinary expenditures $5s2, ,402, ,821, an increase of $76,30s,3l4 In the receipts the principal falling off was s23 ,oi7 in GUS toms while in the disbursements tho important increases were s11. .423. 40 in commerce and labor, $607. .SsS. 5s0 in treas- ury proper, and $20 33s, ,067 for the navy Unusual expenditures were S50000 on ac- count Of the Panama canal and s4, CO., ,000 lent 10 the Louisiana Purchase Exposf- ton company, which has now been nearly all repaid. But for these, the recorded uehclency of $41T0.51 would have been changed to surplue of sl2,s29, 4gs
 The operatrons after seeing the public debt exceeded those of the preceding years, and amounted to $699 660 94l ifi re- eeipts and s6SS92i.S79 in disbursements. The aggregate receipts for the year were therefore Sl2i0, 292, 600, and the aggregate disbursements $1, ,221, 326, 701. For the first three months of the current fiscal year, the revenues show falling off of $6516,- s73, and the expenditures an increase ot | $lS,073,S39.
 Trust Funds Show Increase. | The trust funds held for the redemption of outstanding notes and certificates amounted at the end of the year to $97S, S,oS4.569. an increase of $S50l5. iU2 In l twelve months. By October l there was a further Inorease to $I,o14 779, 969
 The redemptions os United States notes in gold amounted tl sn OS1, ,O6S for the year and those of treasdiW notes to s474- 1 126
 In consequence of the dehcielcy4 h} the | revenues, the cash in the officeg of thu l treasury and mint declined dltrine thu year from s17o,o2o0d2 to si3I52o.26l and by | October l to $125,964ssS. The available balance, including deposits In national | banks and other credits, was $23s, ,6S601l on June 30, 1903, and $151. 162 on October l, 1904. Exchanges of and per cent 1 bonds into per cents were continued l up to January 3, 1904, with aggregate con versions of s16, 795 100 of the 4s and S5g7l.- l TOO of the Ss. The per cent loan ma tured February 1 and was reduced by redemptions before maturity by $l4, TIP 450. and after maturity by $3S94,750 leaving S71,s5O. Other changes in the public debt have been unimportant with the excep- ton of the increase In gold certificates. Whch amounted In nfteen months to more than sll9.ooo,000. The increase In the num- Der of banks during the year was 395.
 Seml-Annual Duty Increases. The semi-annnal duty paid Into the treasury on circulation was s1,92s, ,S37, an increase of SPOOL oyer 1903. An addition of S1lS,79314S was made during the year to the monetary stock of the country, an aggregate of $3l S29 ,599 In the following Quarfpr. Of tba fr,nr e1fa was In gold. The aggregate supply on October l, exclusive of certificates was estimated at s2,S35, 3S3, 736 of which g. 562- 4S9 was in circulation. The proportion Of gold was 4lB per cent, as against 442I July 1, 1900.
 l The gain of gold to the treasury in the same period was $2S0.aj.233 Deposits oi 1 gold bullion were received at the hints and assay offices during the year to the amount of sl75,ooS,565.
 Gold Coin in Circulation.
 The actual gold coin in circulation oc. tober 1 Is placeG at sG41,s S63 In coin and $iS6'512,1 ,139 in certificates.
 Since July l, 1900. there has been a growth of sd63, 991s62 in the money circu- latlon. On October 1 the circulation reached the maximum of S3i .fG for each person, and the proportion of gold to the whole was s4403. In the current fiscal
 
 of all previous additions. has been un- l ceasing Experience has made 1t clear l that the stock of small notes is hardly sufficient. The department has employed | all its resources, but these fare limited l for the issuance of silver certificates can not exceed the silver dollars available, and the United States notes have a vol ume fixed by law. The report says:
 This condition of things might be remedied by congress without inhatina 1 the currency.
 First, the issue of gold certificates of the denominations of 8 and $10 might be | authorized. Secondly. such certificates to the amount of s5O,000O00 might be substi- 1 tuted at once for United States notes by l the application of mat sum from the re. serve. Thirdly, the national banks might be permitted to issue any part of their circulation in flve-dollar notes, by the re- peal of the provision allowing only one third of the total issue of each institution of that denominationt l The deposits In New York for payment by telegraph. chiefly in Chicago and New Orleans for removing the crops, amounted in the calendar year 1903 to s35,154.0Oo. and in the first nine calendar months of 1908 to s15.755 222.
 Gold. Of which s3f 2e1 was in Jana nese yen. sl0,S00.579 in other foreign coins, and s9005,902 In ore. making altogether s5l. 796,7 743, was deposited in the last fiscal year Tn san francisco for telegraphic ex. l change.
 Bank Notes for Redemption.
 The national bank notes presented for redemption during the year amounted to $262 Al ,93O or 6l.l2 per cent of the average outstanding. This Is the highes- record for any year of the thirty during which these notes have been redeemed by the treas | urer.
 The movement of silver dollars from the l treasury was a little over S4l 0.000. and | the shipments for the current year show l an increase over last.
 | Silver dollars to the amount of s46.09S.3 3l4 1 were presented during the year at the l treasury offices for exchange into other | money.
 An addition of s2s0iei4 was made to | the subsidiary silver coin in circulation. l carrying the total up to s95,52S, ,34S
 Minor coins are not included in the gen :, eral statements of circulations, yet vol ume of no less than s3S 149,519 Is shown to