Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1907-01-03

! Washington, Jan. 2-'rhere is NO
occasion for alarm, our only anxiety
might be lest we tail Of facilities
property 20 garner store, transport
land market our multiplied blessings,
Let every man be of good cheer and
try TO be conservative in everything
but thapkmness,"
Secretary of the Treasury SHAW
thus concludes his resume of the
Years financial record, which he says
has been prepared in response to
multiplied requests. In round nun.
hers he places the receipts for the
calendar year of 1906 at $625 ,O00, 900,
expenditures $5G6,0o0,o00, Shaw says
the large increase OF receipts IN duo
solely 10 extraordinary trade ACTIVITY.
The total expenditure however. toy
1906 compared with 1900 ne says,
shows a decrease of only S5,o0O,Ou0
Discussing the finances OF the govern.
fiscal year Just closed, the secretary
says the books Of the treasury show
"a surplus of receipts over eNpvnit.
lures of $G5,0Oo,00o compared with
deficit of $4,000 GOO for correspondents
months of the previous fiscal year.
Cash in treasury is $4,000 600 com.
pared with Sl7l,000,O00, year ago.
Cash IN national dopositariCs Is Sl5g,,
100000 compared with St; 900 900 a
year ago. Total cash In goaeral mnd
Is $35G,000,o00, against $4,000, 900 n
year ago, Against this cash there are
liabilities al present of $4,000 900
greater than at the same time tast
year The available cash balance
has increased during the year SlNl,.
600 goo
With the general fund standing az
So 900 0o0, Shaw remarks that bonds
maturing July LIST, 1907, can be paid
II It shall he deemed wise, and still
Iearo working balance of more
than $500 100000
More Money in Circulation.
During the last IL months, tho
secretary continues, money In actual
circulation exclusive of the amounl
IN the treasury, his lncrcaseu nn,,o
than S20O,000,000, OF this Increase
Sl4o 100000 IL available in bank re-
serve and $50 100000 In national
banks circulation This" he saws
seems to be "A complete answer to
the oftrepeated and illadvised crit.
icism that the independent treasury
system necessarily results In con,
traction when money is most needed
lie maintains, therefore. that me
existing money stringency, word
vide In Its extent. Is traceabe In no
respect and In no degree to the indie,
pendent treasury system OF the
United Staes. He says the manifest
and admitted shortage has been
caused by the unprecedented prosper
lty everywhere, The people of the
United Staes, he declares. consume
per capita more OF everything than
any other people In the world, ana,
when prosperous, they import very
largely. This he asserts, naturally
encourages industry everywhere anu
usual business activity calls for an
unusual amount OF actual money ana
Of credits based on actual money.
Currency Expansion Possible.
AS TO currency system reform, Shaw
says that In his judgment IL permits
adequate expansion. but that It's weas.
ness Is It's failure TO produce contrae.
ton. The volume of money he con.
tends, does not respond to the vol.
ume OF our business. The annual IN.
crease, he adds, may be sufficient.
but there Is annual contraction dur
ing the dull summer months, "OnIy
The unthnking and ill.auylsed," he
: says, charge the admitted strinReucy
= solely or largely TO stock and bond
! speculation"
Just now speculation in real estate
p Is at high tide and the opinion IA
expressed that very likely as mucn
money Is ttvG up in options ana mar.
gins IN real estate as in options ana
margins on stocks and bonds
Effect Of Car Shortage.
The effect Of the present car short.
age on the money market also is at
/ Iuded to. lie points out that Iarg,
sums are tied up 10 merchandise that
lies for days, even Weeks, side
tracked and that this amount ~
represented somewhere by borrowed
money and the delayed shipments
extends the loan. Tne same is true
| Of al. material on its way 10 factor
, les.
Cooperation between the CONNIE,
cial banks Of the country the secre
tary deems impossible because the
Sherman antitrust law forbids II. n,