Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1907-01-03
Sec. Shaw Makes Resume in Re-
spouse to Multiplied Re-
quests.
NO OCCASION FOR ALARM
Ueceipts for the Year Exceed Expenses
by $4,000, 0OO--Big Increane in Nm
ttonol bank Deposita--Nioney
In Actual Circulation Is
s:Oc, Greater.

Washington, Dec 3i.--"There is no oc-
caslon for alarm. Our only anxiety need
be lest We fail of facilities to properly
garner. store, transport and market our
multiplied blessings. Let every man De
or good cheer and try TO be conservative
in everything except thankfulness."
Secretary Shaw thu- concludes 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 Mt S625, 900. 900 and the oxpendi-
lures mt sos, 600, or an excess Of re-
oetpts over expenditures of $50, coo0OO As
there has been no change in the tariff
laws or the laws relating to internal rev.
enue. Secretary Shaw says the large IN
crease In receipts IS duo solely to ex-
traortlinary trade activity. The total ex-
penditures, however for 1906 as compared
with 1905, he says, show decrease OF but
s., 10000.
TREASURY FIGURES.
Discussing the finances OF the govern
mont for the six months OF the present
fiscal year jus: closed the secretary says
that the books OF the treasury show
Surplus receipts over expenditures OF s25-
100000 as compared with deficit Of S.
100000 for the corresponding months of
the previous fiscal year. The cash in the
treasury is $50 10000 as compared with
N11."0W0 a year ago. an increase of
81? 10000. The cash in national bank
deposits is 100000 as compared with
tG'. 0H,oo0 year ago. an increase of sN, co.
600 and the total cash IN the general fund
Is S5s,Go0o0o rs against s242,oooO00 a year
ago. Against this cash there are liabilities
at the present time Sl3 100000 greater than
a. the same time last wear. The available
cash balance has increased during the
year Sl01, 600 cn0.
COULD PAY BONDS NOW.
With the general fund standing AT sZ37.-
10000 Secretary Shaw remarks that the
bonds maturing July /, 1907. can DO paid
If il shall be deemed wise, and still leave
a working balance OF more than $4,000,
o00 If the owEers would accept the
money, he says, the bonds could be paid
now. but he doubts If any considerable
number OF the hoIders would accept pay
ment at tins time because they are OF the
class VINO care Tor little else than certain
~ o. security and exemption from taxa
uon' MIR. Shaw says he has thought best,
however TO leave to his SUCCESSOR the
discretion OF paying hes" bonds at ma
turty or Of refunding such portion as he
may deem appropriate.
,,oy,, ,,o,-rv, -. ,,nc,., ,r,o>.
$780,. no,,,a, -,
ton, exclusive of the amount In the
treasury vaults has increased over $780,
NpWo. OF TINS increase Sl4lOW,W is avail |
able for bank reserve and 10000 90 is
In national bank circulatiOn. "ThiS,' he
says, 'scens to be a complete answer to
the of-repeat'd and ill-advsed criticism
that the indeI treasury system
necessarily results in contraction when
money IS most needed He maintains,
therefore. that I'll" existing money
string"ncY. world wild" IN its extent, Is
traceabl" 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 coun-
try and reasonable prosperity every |
where, The people of the United States
he declares, consume per capita more
food, more clothes, more of everything |
than any other people in the world and !
when prosperous they import very large
~. This he asserts, naturally encourages
industry every where and unusual bust |