Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-31
BIGGEST GOLD FUND
Over $4,000, 900 in the
United States Treasury.
TREASURER TREATS REPORT
Largest Per Capita Circulation in Our
History.
DEMAND FOR SMALL NOTES
Remedial Legislation by Congress De-
sired-Cleaner and More SAM
tary Money Wanted.
TREASURER TREATS REPORT
DEMAND FOR SMALL NOTES

Charles H. Treat, treasurer of the United
States, submitted his annual report to the
Secretary Of the Treasury and in refer
ence to the more noticeable transactions
said in part:
The net result Of the ordinary revenues
and expenditures for the fiscal year 1906
was surplus of s25.66s,32261, as COM
pared with deficit of $23.OO4,22 for
| the preceding year. A continuation Of
THESE favorable conditions is reflected in
the transactions for the first quarter of
the current fiscal year in which the reve-
nues were s5,S71,314.37 in excess of the
expenditures.
Greatest Circulation in Our History.
The monetary stock of the country took
on growth during the year of $780,
soo,127, of which s11s,05O,777 was in gold,
$o'4oo.3s6 In silver and $65,392,554 in ma
uonal bank notes, while the treasury notes
decreased $2027,000. The aggregate stock
e OF n money n at the close of the year was
so'o69,9I6,591, of which $2,736646,62S was
IN circulation. By October l the circula-
tlon mad increased to $2,S12,133694 or a
per capita OF $330S, an amount unparal-
leled In our history.
The national bank depositaries have been
utilized during the year as a medium
through which the excessive accumula-
.loii OF money In the treasury was restored
to the channels of trade.
During the first quarter of 1907 the
depositary banks. through the aid Of addi-
tlonal temporary deposits of public
moneys, imported gold which resulted in
an addition of $34,119, 900 to the general
stock of that metal by October Is, 1906
On September 81 owing to the continued
accumulation Of money in the treasury in
excess of immediate requirements, S26,-
100000 of the public moneys were appor-
toned and placed in existing depositary
banks located in twenty-six of the lead
o. rNi ol nit Npx
balance in banks to the credit of the gen.
eral fund of October g. 1906, was sI42.-
114,5469S.
Demand for Small Notes.
THE national banks have not issued
IS notes to the limit allowed by law, and
thereby have forced upon the treasury the
burden Of supplying the smaller denom-
nations required by the business inter-
ests of the country. The bank notes of
the denominations of SIS outstanding June
30. 1905 were, $76,SS9,175. as against
However. in response to the appeal of
the Secretary of the Treasury, the banks
have Increased the volume Of their So
notes: which. on October l. were 1885,
S6S,245, an increase of $9,479,O70
Largest Gold Holdings Known.
THE treasury holdings of gold continue
to attract the attention Of financiers, both
at home and abroad. 1t is apparent from
the continued accumulation that large
share of the product Of the gold mines
or the world is brought to the United
States. The gold coin and bullion in the
treasury June 3d. 1905, amounted to s7O6
5s2.399:04, and at the close of the fiscal
year 1906 1t had advanced to sSO7,O51.-
5000. BY October rs it attained a maxi
mum at sS77.2sS.23s.61. the largest
amount of the precious metal ever held in
the treasury of any government
''The redemptons In gold from the re-
serve fund We're: United States notes,
1915, and treasury notes. s1s2,s1O.
THE United States paper currency is
sued amounted to 1929. $50. 900, and the
redemptions were $577.445,100, a net in
crease in the volume outstanding Of s52,-
45O,90O. The average cost Of each piece of
paper issued and redeemed by the gov
eminent is 1.571 cents, and the annual
cost OF maintenance of the currency av-
erages about one-fifth of one per cent of
the amount outstanding.
On March l. 1900 the paper circulation
of the denomination of $40 and under out
standing amounted to s72O.062.S45, and by
October !. 1906 1t was $1,087,7SS,22S, or
an average annual increase Of about $751;
100000. But the supply Is not equal to
the demand.
THE pressure from bankers and others
for a larger and more regular supply of
small denominations Of currency continues
undated, while the treasury Is without
resources for the issues of small bills to
1.-The sentiment of the country seems
so unanimous for a rectifcation of this
untoward condition. that it is naturally to
be expected that Congress will ultimately
enact the Legislation that it has under
consideration, which will bring full re-
lief from the existing condition.
Cleaner Money Wanted.
There is notable and widespread in
terest among the public in the supply Of
a cleaner or more sanitary currency The
sentiment is laudable one and should
be attainable, because the expenditure, as
per tables of cost, is but a trifie COM
pared with the benefcent results. No
government afford to have its cur
rency a source of conveyance of infectious
diseases or a menace in any way to the
public health. The profit it derives from
the issuance of currency is ample COM
pensation for the small expense that this
change would involve. 1t is gratifying
to note that the House committee on bank
ing and currency have this matter in
charge and are making most painstaking
90. h. nf lit