The Colorado statesman., 1906-12-08
NATIONS MONEY
REPORT OF SECRETARY OF THE
TREASURY SHAW.
GOLD, SILVER AND PAPER

crease in Receipts-No Silver Dol
lars coined-Larse 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 s762, 1856, ,9O4.62 and the ex-
penditures as s7S6,717,5 ,5s2.O1, leaving
surplus of s25,669, ,322.61. Them
crease in receipts over the previous
fiscal year was s65,2S5, ,634.67, and in
expenditures s16,612, ,0S3.46.
The, revenues of the current fiscal
year are estimated at 1913, ,573 ,264 and
the expenditures at S755, 5,573,264.
There was an increase of $1S6,S66,-
727 in the monetary stock of the coun-
try during the last fiscal year. The
growth in gold was $11S,050,777; in
silver s5,45O,396, and in national bank
notes S65, ,392,554, while treasury notes
declined s2,O27,O0O.
The money in circulation July /,
1906, amounted to 81, 1876, ,646,62S, a per
capita circulation of $32.32. By Octo-
ber 1st the total circulation had in
creased to s2,S12, 1873, ,694, or $33.0S per
capital, 43.6 per cent of this amount
being gold.
The treasury holdings of gold at the
close of the last fiscal year was $SO7,.
051, ,690.30. By October 18th this in
creased to 1871, 1893, ,S99.77, the largest
aF t1,n, al 1, IA
in the treasury.
The latest returns of national banks,
shows that September 4, 1906, there
were in operation 6,137 associations
with paid-in capital stock of $S35, 5,066.
| 796, and surplus and other profits OF
| 500, ,140,9 ,9S1. The surplus proper was
| $3.50, ,245, 1874 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,O16,021 ,066, over one-half
or 4,199, ,93S,310, is represented by in
dividual deposits. The deposits to the
credit of banks amounted to $1,589,011,
| 462, and to the credit of the United
States and disbursing officers of the
| government, SlOi ,ool ,ol4.
Since August 20, 1905, the date Of
approximately corresponding returns
there is shown to have been an in
crease of $50 in number of reporting
banks, $35, ,196,567 in capital stock and
$50,521, ,024 in surplus and undivided
| profits. There was an increase of $379,
256,597 in individual deposits and s45,
TAI, ,514 in government deposits. The
amount to the credit of other banks
decreased $35,S76, 120. The deposits
on which reserve was required
amounted to s4,927, .452, on which
reserve of 20.70 per cent. was held
on September A. 1906.
The domestic coinage of the mints
during the fiscal year amounted to
1871, ,035 pieces, of the value of $780,
ZIG, 6,747.90. OF this, $50, ,O22, ,097. so was
gold coin, $4016, ,36S.10 was subsidiary
silver coin, and S3,19S, ,2S2.30 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 100000 five-pest
pieces, of the value in United States
money of $12 2,461 ,240.32, for the Mexi,
can government; 100000 fractional sill.
yer pieces for the government of Costa
Rica; 100000 half-balboa pieces for
the government of Panama, and 1,55I,.
629 pesos and 3,7oo pieces in fractional
silver coins for the government of the
Philippine islands.
1ne 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
900 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; estab-
lishment of a department of saving
banks in Washington and legislation
which will build up our merchant ma
| rine.