The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1907-01-01
Issues Report on Annual Condition Of Finances
Showing Big Gains
SAYS MONEY sTRINGENcY Is DUE
ONLY TO NATIONS UMPIRE.
cEpENTEp PROSPERITY.
CONTRACTION is NEEDED
He Thinks as Well as Expansion in
N Times Of Need--Sounds Note of
Wsrrifsg and Says Masses
viii Suffer if Crash.

Wishing on, D. c.. Dec. 3i.-"Thcrc
Ianxety need be lest we fail of facili-
Iies properly to garner, store. trans
port and market out mutt 'plied bless
ings. Let every man be of good
cheer and try 10 be conservative In
everything except thankfuluess.
Secretary of the Treasury Shaw
thus concludes his resume Of the
years financial record which he SAYS
has been prepared in response to null
| tiplied requests In round numbers hi
places the receipts for the calendar
year of 1906 at $3.50 100000 the expan-
ditures $5GG,000.000 Shaw says the
large increase in receipts is due solely
to extraordinary activity Total cx'
penditures. however, for 1906 compaT
ed with 1905, he says shows a de-
crease of only $5000.000.
Surplus Instead of Deficit.
Discussing the finances Of the gov
eminent for six months of the present
fiscal year just closed. the secretary
says The books Of the treasury show 4
surplus receipts over the expenditure.
of 900 900 as compared with de
felt of $4,000 900 for the corresponding
fiscal year The cash in the treasury
Is $190,000,000 as compared with Still
100000 year ago. The cash in ma
ti0nal bank repositories 1859 100000
as compared with s65.000.000 year
ago. The total cash in the general
fund is s356.000 600 as against s242s
100000 year ago. Against this cash
there arc liabilities at present of 49,
100000. greater than at the same time
last year The available cash balance
has increased during the year Sl0I.-
100000 With the general fund stand
ing s237. 900 600 Shaw remarks that
bonds maturing July /, 1907. can be
paid, If II shall be deemed wise and
still leave working balance of more
han st2o 100000.
During the last II months. the Sec
'etary continue. money in actual cir
exclusive of the amount In
he treasury, has increased more than
1900, 600 900, or this increase s145
100000 is available in bank reserves,
md s60.00009o in national banks CTR.
This" he says sceems 10
20 compile answer TO oft.repcaled
nd adverse criticism that the indie
'endent treasury system necessarily
esults in contraction when money Is
most needed.
Treasury System Not TO Blame.
He maintains. therefore. that the ex-
81 Ing money stringency. worldwide
D its extent Is traceabIe in no respect
nd in no degree TO the independent
system Of the United States.
ie says the manifest and admitted
heritage has been caused by unprece-
ented prosperity in this country and
easobale prosperity everywhere.
The people Of the United States he
eclares. eonrume per capita more Of
verifying than any other people IN
be world. and, when prosperous they
IMPORT very largely This he asserts.
here and unusual business activitS =
alls for the unusual amount Of ac- Q
nal money and OF credits based on
ctual money.
Sees weakness in Reform.
As TO the currency system reform.
haw says, that In his judgment il
ermits adequate expansion but that
: weakness is its failure to produce
The volume e money. n
intends. docs not respond TO the vol-
ne OF our busine s. The annual in
cast. he adds. may b. sufficient but
ere is no annual contraction during
c dun summer months. only the
thinking aud IN advised he savS.
barge the admitted sirinscucy soie'v
largely 10 stock and bend specula-
IN.
Much Real Estate Speculation.
JUS DOW speculation in real estate
at high tide. be saws. and the
iaion is expressed that very likely
much money is tied uD IN options
d narg rs in real estate as in on
ms and margins On stocks and
nds~
The feet Of the prereat car shortage
the money market also is alluded
lie points out that large sums arc
a uD IN merchandise that lie for
IS. even weeks side tracked aud
AZ this amount Is reprcscn' cd some
.ere By borrowed money and Tie de-
red shipments extends the loans.
e same is true Of all material on is
y 90 the factories