Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1907-01-03
SHAW'S RESUME
OF 1905 RECORD
Secretary Of Treasury Talks Of COun-
try'S Finances for the Past Year.
THERE'S NO OCCASION FOR
ALARM, HE DECLARES
Let Every Man be Of Good Cheer and Con-
seryative in Everything but Thankful
ness-Reeeipts for Calendar Year,
1925, 100000, aud Expendi-
tuFas, S566,OOO.OOO

Washington, Dec. 31.-''There is no
occasion for alarm. Our only anxiety
need be lest we fail of facilities to prop
erly garner, store, transport, and mark
ct our multiplied blessings. Let every
man be of good cheer and try to be con-
servative in everything except thank
fulness."
Secretary Shaw thus concluded a re-
sumo of the years financial record,
which he says has been prepared in re-
sponse to multiplied requests. In round
plumbers he places the receipts for the
calendar year at s625, 900, 900, and the
expenditures at s566, 900, 900, or an ex-
cess of receipts over expenditures of
e6s, ZOO, 900. As there has been no
change In the tariff laws or the laws
relating to internal revenue, Secretary
Shaw says the large increase in receipts
is due solely to the extraordinary trade
activity. The total expenditures, how
ever, for 1905, as compared with 1905,
he says, shows q decrease of but $5,-
O0O, 900.
eminent for the six months Of the pres
ent fiscal year just closed, the secretary
says that the books of the treasury
show surplus receipts over expenditures
of $25, 900, 900, as compared with a de-
felt of $4,000, 900 for the corresponding
months of the previous fiscal year. The
cash in the treasury is $l90, 0O0, 900 as
compared with $171, 900, 900 year ago,
an increase of $19, 900, 900. The cash
in national bank depositaries is $780,
900, 900, as compared with $65, 900, 900 a
year ago, an increase of $94, 900, 900,
and the total cash in the general fund
is 1856, 900, 900 as against $242, 900, 900 a
year ago. Against this cash there are
liabilities at the present time, S13, ,000,-
900 greater than at the same time last
year. The available cash balance has
increased during the year $101, 900, 600.
With the general fund standing at
$237, 900, 900, Secretary Shaw remarks
that the bonds maturing July l, 1907,
can be paid, if it shall be deemed wise,
and still leave a working balance of
more than $120, 900, 600.
During the last twelve months, the
secretary continues, the money in &C
tual circulation, exclusive Of the amount
in the treasury vaults, has increased
over $500, 600, 900. OF this increase
s145, 900, 900 is available from bank re-
serve and $50, 900, 900 is in national bank
circulation. "This, he says, ''seems to
be complete answer to the oft-repeat-
ed and iIl-advised criticism that the in.
dependent treasury system necessarily
results in contraction when money is
most needed" He maintsins, there
fore, that the existing money strin-
gency, worldwide in its extent, is trace
able in no respect, and in no degree to
the independent treasury system of the
United States. He says the manifest
and admitted shortage has been caused
by the unprecedented prosperity in this
country and reasonable prosperity
everywhere.
AS toethe currency system of the
United States, Secretary Shaw say:
that in his Judgment it permits adequat.
expansion, but that its weakness is it,