Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1905-12-06
SHAW TELLS Of
COUNTRYS MONEY
Secretary of Treas
ury Makes An
nual Report
STATEMENT SHOWS DEFICIT
Elastic Currency Is Recon-
mended--.N Banks
Reveal Prosperity.

washington, b. c., Dec. G.--Leslie
NJ. Shaw, secretary of the treasurer
To-Day sent his annual report to the
President.
According to the report the gov
ernments revenue from all sources fo,
the fiscal year ending June 30, 1905
amounted to $697, ,269.95, the ex
penditures for the same period were
$I2o,lO5,49S.55, leaving deficit OF
$2S,004, ,22S.6O.
Receipts Show Increase.
Compared with the fiscal year, 1904
the receipts for 1905 increased $12,
SS6,S96.21. There was decrease OF
S5,S79,447.10 in expenditures.
The ordinary revenues for 1905, as
compared with 1904, show an increase
OF $3,642,935.45, while the expenditures
were less by $15,123, ,4O7SG. For the
past two years the expenditures of
che government have been in excess
OF the revenues to the aggregate
amount on more than $64,OOO,OOO. This,
however, included the extraordinary
expenditures in 1904 of $5O,OOO,OOO on
account of the Panama Canal.
During the fiscal year 1905, there
was an adj lition of 5000 to the inter.
est-bea ring debt, while there were re-
1uctit1ns OF $C00,675 in the items on
Hhjc,n interest had ceased since matur.
II stand $3,S'02,14G.3O in the debt bear.
ing 7, interest. The net reduction
was $.9O1,s21.3o.
Cash Balance.
The tvaila.ble cash balance in the
genera fund, June 80, 1905, was $145,.
477,49ls9 a reduction for the year of
$26,574D76.1a.
The revenues for the first quarter
of 1904 wer $147O14,725.10 and the
expensitures s$156,5SS, ,9GG.G6, an ex.
cess Of expenditures over receipts OF
$9,574,2f.56. In the first quarter of
1906 expenditures were $17,S56,G15 in
excess ofreceipts.
United States notes to the amount of
$11,517,I9 and treasury notes for
$340675 were redeemed in gold from
the reseive fund during the last fiscal
year. The redeemed notes were i'm.
mediately exchanged for gold, and the
reserve was thus kept intact.
The trust funds at the close of the
fiscal year 1855 amounted to 1892.
467,969, a net Increase for the year of
$14,723,400.
The total amount of United States
paper currency issued during the last
fisca, year was $637, 100000, and the
redemptions were $623, 3,026,60O. Gold
certificates increased $23, ,499, 400, while
silver certificates were reduced $5,211,-
900 and treasury notes $3,565,000
The annual cost of maintenance of
the paper currency issued by the gov.
ernment averages about two-tenths of
/ per cent of the amount outstanding.
Nationa1-bank notes to the amount
of $3OS, ,29S, 76O were presented for re.
demption during the year. This was
65.S4 per cent of the average amount
of notes outstanding.
Bank Deposits.
The deposits in national banks to
the credit of the general fund at the
beginning of the year were $102,29o,-
863.64.
During the year $6s,739,793 was add
ed to the money in circulation. The
per capita circulation advanced from
$3O.77 July /, 1904, to $31.3S November
/, 1904; then declined to $30.S6 April
/, 1906, and at the close of the year
June 30, 1905, stood at $31.0S. By Oc
tober /, 1905, the total money in cir
culation had advanced to $2,624,23O,
391, a per capita circulation of $S1.S9
42.8 per cent of which was gold.
The gold in the treasury including
the reserve and trust funds, October
Q, 1905, amounted to s739,S98,6O0.36, 8
sum never equaled in our annals; MOI
has any other government ever -held
so much Of the precious metal.
During the past year the usual ia
cilities have been extended to aid II
the movement of the crops. The de
posits for transfer in the New York
and Chicago sub-treasuries were $50,
O93,O34, for which payments by tele
graph were made at other points II
the denominations required to NEE
tn edemands of the locality in which
the funds were to be used.
The silver dollars in circulation June
30, 1898, were $5S,4S2,966.
National Banks.
At the close of the year ending Sep
tember 80, 1906, 5,S31 national banks
with authorized capital stock Of $810
G54,O75, were in active operation.
u Since the national banking system
was first authorized there have beef
43S failures and 1861 voluntary liquI
dations Of national banks.