The Birmingham age-herald., 1905-12-07
RAN 23 MILLION
 BEHIND, SAYS SHAW
Secretary of Treasury Reports That Deficit for Fiscal Year
CIRCULATION INCREASED
More Than $7as, ,ooo, ,ooo in Gold in the Treasury-SmaII Denominations in Strong Demand-Money
 for Crop Movements.

Washington, December 6.-The annual report of Secretary of the Treasury Shaw was made public today portion of il follows.
 The ordinary revenues for 1905, as com pared with 1904, show an increase of sS'- 642. .935.45, while the expenditures were less by $15, ,407s6. The net result for the fiscal year was an excess of expendi- lures over revenues of s2a,Oo4, ,22S.6o
 For the past two years the expenditures of the government have been in excess of the revenues to the aggregate amount of more than $64.000,O0o. This, however included the extraordinary expenditures in 1904 of s5O,0O00O0 on account of the Panama canal.
 During the fiscal year 1905 there wal an addition of $500 to the interest-bearins debt, while there were reductions oi $500, ,s75 in the items on which interest had ceased since maturity, and $S,SO .l463l in the debt bearing no interest. The net reduction was $S901, ,921.SO.
 The available cash balance in the gen eral fund June 30,1905, was $l45,47, 49l. .S9' reduction for the year of $26,57407SlS
 The revenues for the first quarter or 1906 were sl47.0l4. 72510 and the expendi- lures s156, ,5Ss, ,966. .66, an excess of expendi- lures over receipts of s9.574,24 5S. In the first quarter of 1905 expenditures were ST ,S56,615 in excess of receipts.
 Tinted States notes to the amount of s11 .517,579 and treasury notes for $S4o, 675 were redeemed in gold from the re- serve fund during the last fiscal year The redeemed notes were immediately exchanged for gold, and the reserve was thus kept intact.
 The trust funds at the close of the fiscal year 1905 amounted to 1892. .467,969 ne' increase for the year of $14,723,4O0.
 The total amount of United States paper currency issued during the last fiscal year was s637, 75o, 600, and the redemptions were s623 026. .6o0 Gold certificates increased SzS,- 4s9. 400. while silver certificates were re- duced s5.211.0O0 and treasury notes $o,- 565. .0oO The annual cost of maintenance ol the paper currency issued by the govern ment averages about two-tenths of l per cent. of the amount outstanding.
 National Bank Notes.
 National bank notes to the amount of saoS. 29s 76o were presented for redemption during the year. This was 65.84 per cent of the average amount of notes outstand- irg. The expenses incurred were $247,- 9I3 26. which nave Deen dsSCoSCu uPoii ths banks at the rates of s0S0 993-10OO per $lOct of their notes redeemed
 The deposits in national banks to the credit of the general fund at the begin ming of the year were $l02,29o.64, but the excess of expenditures over revenues ir the early part of the year soon made Il apparent that the cash in the treasury vaults would be reduced below the limit required by prudence Calls were there fore issued withdrawing from the deposit ory banks a part of the public moneys held by them, and the balance therein tc the credit of the general fund at the close of the fiscal year 1905 was s6o. .Os4, 246s This withdrawal of public funds from the banks was accomplished without disturb ance to business.
 The withdrawal of public moneys from depository banks released a considerable amoiint of government bonds, which the banks have used largely as a basis for increasing their circulation. The bonds pledged to secure bank circulation have increased 2,O60 25O during the year, while those pledged to secure public deposits have decreased $39,5S7, 600.
 Circulation Increased.
 During the year $es, .793 was added to the money in circulation. The per capita circulation advanced from s30.77 July l. 1904. to 331.38 November 1, 1904; then de- clfnad to f2O G4 April 1. 1o06. and ot tho