The Lamar register., 1906-12-12
FARMING LEADS NATIONS MONEY
REPORT OF SECRETARY OF THE
TREASURY SHAW.
SILVER AND PAPER
Good. Healthy Surplus - Large In.
crease in Receipts-No Silver Dol
lars Coined-Laree Demand for Sill.
yer for Subsidiary Coinage.

lars Coined-Larse Demand for Sill
yer for Subsidiary Coinage.
Washington.-Th secretary of the
treasury reports the revenues from all
sources for the fiscal year ending June
30, 1906 as $7G2, 1856 ,9O4.G2 and the ex-
penditures as $736,717,5 S2.Ol, leaving
a surplus of $25,GG9, 322.G1. THEM
crease in receipts over the previous
fiscal year was S65,2S5,G 34.G7. and in
expenditures s1G,G12. 0S3.iG.
The revenues of the current fiscal
year are estimated at sS13, ,2Gi and
the expenditures at $755,573.264.
There was an Increase of $lSG, $780,
12l in the monetary stock of the coun-
try during the last fiscal year. The
growth in gold was S1lS,050,777; in
silver $5,i5O,39G, and in national bank
notes sG5.392, 55i, while treasury notes
declined s2,O27,0o0
The money in circulation July /,
1906. amounted to s2,73G, 6i6, CPS, a per
capita circulation of $32.S2. BY Octo-
Der list the total circulation had in
creased to s2,Sl2,133, G9i, or s33.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 $780,
051 ,G90.30. BY October 18th this in
creased to 1871 1893 ,S99.77, the largest
amount of the precious metal ever held
in the treasury.
The latest returns of national banks,
SHOWS that September 4, 1906. there
We're in operation G,l3I associations
with paid-in capital stock of $3.50. OGG,-
1876, and surplus and other profits OF
500, 140,9S1. The surplus proper was
$3.50, 2i5,12i. which is nearly three
times the amount required to be ac-
cumulated and maintained under the
law. The surplus and other undi-
yided profits" amount to over eighty
per cent. of the paid-in capital.
OF the total liabilities of the banks,
namely, sS,0lG.O2l ,0GG, over one-half
or $i,199. 93S, 80 is represented by in
dividual deposits. The deposits to the
credit of banks amounted to 81 ,5S9,Oll,
1872, and to the credit of the United
States and disbursing officers of the
government, Sl07 .S3l,Sli.
Since August %, 1905, the date oil
approximately corresponding returns
there is shown to have been an in
crease of $50 in number of reporting
banks. $35. l9G.5G7 in capital stock and
$50, ,O2i in surplus and undivided
profits. There was an increase OF S3I9,'
25G. 597 in individual deposits and $i5,
Ti1,51i in government deposits. The
amount to the credit of other banks
decreased s35 1851 The deposits
on which reserve was required
amounted to si.927 SG5,i52, on which
"A reserve of 2O.7O per cent. was held
on September 4, 1906.
The domestic coinage of the mints
during the fiscal year amounted to
1871 ,O35 pieces, of the value of 500
2lG,747.9O OF this. S53. 022 ,O97 so wa
gold coin, Si.O1G, $3.50 was subsidiary
| silver coin, and $&,l9S ,2S2,&O was
minor coin. No silver dollars were
| coined, all bullion purchased for lha
| purpose being exhausted. The mint al
| Philadelphia also coined 1.O0O,0UO ten
peso pieces and 100000 fivc-poso
| pieces, of the value in United States
| money of Sl2,fGl ,2iO&2, for the Mex
can government: 100000 fractional sill
yer pieces for the government oil Costa
Rica; 100000 halfbahua pieces fui
the government Of Panama, and l,o5',
G29 pesos and 3,iuo pieces in iractlonhI
silver coins for the government oil tht
| Philippine islands.
Tine new mint at Denver has been
in operation since February ], 1905
The demands on all the mints arc
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 coinaE'
Of the silver dollar will cause an en-
Iarged use of the half dollar.
on the basis of the coinage OF inc
last five years, approximately 3'ooo'
600 ounces of silver will be required
annually for subsidiary coinage, and
with the growth of population and BUS
mess this amount will be exceeded.
The report concludes by renewing
former Recommendations for law CIV
ing trust companies power to incorpor
ate under national supervision estho'
ushment of department Of saving
hanks in Washington and legislation
which will build up our merchant ma
zine.