The La Jara chronicle., 1906-12-07
REPORT OF SECRETARY OF THE
TREASURY SHAW.
GOLD, SILVER AND PAPER

Good, Healthy Surplus - Large In
crease in Receipts-No Silver Dol
lars coined-Large Demand for Sill
yer for Subsidiary Coinage.
Washington.-The secretary of the
treasury reports the revenues from all
sources for the fiscal year ending June
80, 1906, as s7G2, $50 .9O4.G2 and the ex-
penditures as s73G,717,5 ,5s2.Ol, leaving
surplus of s25.GG9. .322.G1. THEM.
crease in receipts over the previous
fiscal year was SG5. .2S5, ,G34G7. and in
expenditures S1G,G12 ,0s3.4G.
The revenues of the current fiscal
year are estimated at sS13 3,573 ,2G4 and
the expenditures at s755,573,2G4
There was an increase of s1SG, sec.
721 in the monetary stock of the coun
try during the last fiscal year. The
growth in gold was Sis, S,05O,T7T; in
silver $5,i50,39G, and in national bank
notes $65,3s2,55l, while treasury notes
declined S2.027OO0.
The money in circulation July l
1906. amounted to 81, ,T36, ,64G.G2S, a per
capita circulation of $32.32 BY Octo
Der 1st the total circulation had in
creased to s2,S12, ,133, ,694. or sS3.Os per
capital, 43.G per cent. of this amount
being gold.
The treasury holdings of gold at the
close of the last fiscal year was $SO7.
G5l ,G9O.3O. BY October 18th this in
creased to SS71 ,S93 ,S99.77, the largest
amount of the precious metal ever held
in the TIRE asury.
The latest returns of national banks
SHOWS that September 4, 1906, there
were in operation G.l37 associations
with paid-in capital stock of S535, ,OGG.
1876, and surplus and other profits OF
Sb70, ,140,9S1 The surplus proper was
Si90 .245,124 which is nearly three
times the amount required to be ac
cumulated and maintained under the
law. The surplus and other undi
vided profits" amount to over eighty
per cent. of the paid-in capital.
OF the total liabilities OF the banks
namely. SS.O16,O2l ,OGG, over one-half
or $4,199 ,93S, $40, is represented by in
dividual deposits. The deposits to Tho
credit of banks amounted to Sl,5S9. OIL.
sG2. and TO the credit OF the United
States and disbursing officers Of the
government SlO7 SSl,Sll.
Since August %, 1905. the date oi
approximately corresponding returns
there is shown to have been an iG
crease of $50 in number of reporting
banks, S35, 5,19G,5G7 in capital stock and
$40, ,521 ,u24 in surplus and undivided
profits. There was an increase of 1913,
25G,597 in individual deposits and $40,
741 ,514 in government deposits. The
amount to the credit of other banks
decreased S35 120. The deposits
on which reserve was required
amounted to Si,927, ,SG5,452, on which
a reserve of 2O.1O per cent. was held
on September 4, 1906.
The domestic coinage of the mints
during the fiscal year amounted tc
1G7. 81, ,O35 pieces, of the value of SEQ,
2l6,T479O. OF this, $53 O22 ,O97.50 was
gold coin, s4,016, ,36S.1O was subsidiary
silver coin, and S3,19s ,2S2.%O was
minor coin. No silver dollars were
coined. all bullion purchased for that
purpose being exhausted. The mint al
Philadelphia also coined 100000 ten
peso pieces and 1900, 900 five-pesG
pieces. of the value in United States
money of Sl2 ,4Gl ,240.S2. for the MeXi
can government; 100000 fractional sill
yer pieces for the government of Costa
Rica; 1,OOO,O 900 half-DalDpa pieces Ioi
the government of Panama, and 1857,
G29 pesos and 3 400 pieces in fractional
silver coins for the government OF the
Philippine islands.
Inc new mint at Denver has been
in operation since February l, 1906
The demands on all the mints are
growing every year with the enlarge
ment of the gold supply and the rap
idly increasing need for the subsidiary
silver and minor coins. There are in
dications that the cessation of coinage
of the silver dollar will cause an en-
larged use of the half dollar.
on the basis of the coinage of the
last five years, approximately 5000,
600 ounces of silver will be required
annually for subsidiary coinage, and
with the growth OF population and bus
mess this amount sill be exceeded.
The report concludes by renewing
former Recommendations for law Civ
ing trust companies power to incorpor'
ate under national supervision; estab'
lishment of a department of saving
banks in Washington and legislation
which will build up our merchant ma
rine.