The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-01-01
SHAW GIVES RESUME
OF Financial Year
SECRETARY OF THE TREASURY
DECLARES THERE is NO OC.
CASION FOR ALARM.

Fail of Facilities to Properly Garner,
Store, Transport and Market Multi
piled Blessings-DiscussfOn of the
Finances of the Government for the
Six Months of the Present Year.
Washington, Dec. 51.-"There is no
occasion for alarm. Our only anxiety
need be lest we fail of facilities to prop
erly garner, store, transport and mar
ket our multiplied blessings. Let every
man be of good cheer and try to be
conservative in everything except
| thankfulness."
Secretary Shaw thus concludes a re-
sumo Of the years financial record,
which, he says, has been prepared in
response to multiplied requests. In
round numbers he places the receipts
for the calendar year 1906 at 1925 100000
and the expenditures at $566,O0000O, or
an excess Of receipts over expenditures
Of $59,0O00oO AS there has been no
change in the tariff laws or the laws re
lating to internal revenue, Secretary
Shaw says, the large increase in re-
ceipts is due solely to the extraordinary
trade activity, The total expenditure,
however, for 1906, as compared with
1905 he says, shows a decrease Of but
$5,OO0 600.
Discussing the finances Of the gov
ernment for the six months Of the pres
ent fiscal year just closed, the secre-
tary says that the books of the treas
ury show surplus receipts over expen-
i ditures of $25,O0009O, as compared wit%
deficit Of sS,OOO,0OO for the correspoNtsT
+ ing months OF the previous fiscal 1r.
The cash in the treasury is $4,000 900,
as compared with $171,OO0OO0/a year
ago, an increase of $19, 900. The cash
in national bank depositaKes is s159,
100000, as compared wltf ss5, ,ooo.aOo a
ye5r ago, an Increase 81 $4,000 900, and
the total cash in .thef yanernl fund is
1856, 100000, as aed1sS g42 100000 year
ago. AgainSt tNs cash there are lia-
bilities at ~ 2esent time Of $4,000 600
greater thaA at the same time last year.
The avaiI&ble cash balance has increas-
ed during the year $101, 100000.
WkhS the general fund standing at
s2s7, 100000, Secretary Shaw remarks
that the bonds maturing July |. 1907,
can betpaid, If 1t shall be deemed wise,
and still leave working balance OF
.l-alcra stsa.fr- 77lso, 900 9eo.,s.sss..4.
If the owners would accept the NOR
ey, he says, the bonds could be paid
now, but be doubts IL any considerable
number Of the holders would accept
paymen. at tfki time, because they are
Of the class who care for little else than
certainty of security and exemption
from taxation. Mr. Shaw says he has
thought best, row4ver, to leave his sue
cessor the discretion of paying these
/ bonds at maturity or Of refunding such
4 portion as he may deem appropriate.
7 During The last twelve months. the
secretary continues, the money in actu-
al circulation exclusive or the amount
in the treasury vaults, has increased
over s200,OOO0OO or this increase $145,-
900, 900 is available for bank reserve and
IlS6O, 900 600 is in national bank circula-
IIton. "This," he says, seems to be a
complete answer to the oft-repeated
and ill-advised criticism that the in
dependent treasury system necessarily
results in contraction when money is
most needed" He maintains, there
foAe, that the existing money stringen-
lcvl world wide in its extent, is traceable
in mo respect and In no degree to the
independent treasury system Of the
United States. He says the manifest
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