Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1905-11-11
OUR GOVERNMENT
Holds THE RECORD
Precious Metal Held Is
Largest For Any
Country
VALUABLE IMPORTATION in
U. 5. TREASURER'S REPORT
DEMAND FOR CURRENCY OF
SMALL DENOMINATION -Ex.
PENDlTuRES LARGER
THAN INCOME.

Washington, October 23.--The Treas.
urer of the United States in his an.
nual report for the fiscal year 1905
says:
There is an increased demand for
more paper currency of the denomina
lions Of $40 and under, owing to the
expansion and development of the bust
ness interests of the country. The
treasury has partially supplied the
needs by redeeming and retiring notes
of the larger denominations and issu
Ing notes for smaller denominations III
substitution therefor.
The limit has practically been reach
ed in making changes in denomina
tons through the process of redemp,
ton and reissue. The presentation Of
large loans for redemption probably
will be too slow to meet the demand
for small bills. During the year there
was s637, $4,000 Of United States paper
currency issued and s623,O26 redeem
ed.
For the past two years the expendi
lures of the Government have been in
excess of the revenues to the aggre
gate amount of more than $4,000, 900.
This, however, included the extraordi
nary expenditure in 1904 of 1000, 900
on account Of the Panama canal. This
is the first year in the past six years
when the ordinary expenditures were
In excess of the revenues, and tho
amount was s23,004,22s. The available
cash balance on June 80 last of sl45.
f77,i91, largely the accumulation OF
former years, is deemed adequate to
meet the demands upon the treasur!
for some time to come.
The continued increase In our none.
tary stock and circulation is one that
engages the thoughtful attention of
fnanciers and also excites a just pride
among our people as an evidence Of
the remarkable growth in the resources
Of the country. The total stock OF
money on June 30, 1905, was s2,SS3,
l09,S0i. of which s295.227.2l1 was held
In the treasury as assets of the Govern.
ment and s2,57s,S $50 was in circu.
lation, making per capita of $3l.OS.
There is a continued increase in the
proportion Of gold and national bank
notes In circulation, while there is q
steady decline in the proportion OF sill.
yer, silver certificates and treasury
notes. There are 57S2 national banks
that have bonds on deposit to secure
bank circulation and $40 to secure pub.
lie money.
Referring to the movement OF the
crops, the report says that since Janu
airy. 1900, this movement has averaged
about s277, 100000 annually and in thia
connection action by Congress to en-
large the volume of small notes is rec
commended.
The coinage of silver dollars was dis
continued during the year owing to tho
exhaustion of silver bullion available.
The stock Of this coin In the country
on June 30 last was $55S, S15,S65, ex.
elusive of $9,4l3,000 of such coin held
In the Treasury against outstanding
treasury notes. The amount of silver
dollars In circulation on June 80, 1905
was $73,5S4,336. as against 81 ,3l3,S2s
twelve months before. II Is estimated
that the maximum circulation Of sill.
yer dollars has been reached. The total
number of these dollars received an.
nually at the Treasury offices is about
100000, and Of this amount. for the
coming years 1t Is estimated that more
| than $500, 900 annually will he In worn