The morning journal-courier., 1908-12-04
1908 GOVERNMENT DEFICIENCY HUGE S142, 3o7 900 More Spent Last Year Than During 1907
 With the Same
 Income.
TREASURER TREAT REPORTS
Per Capita Wealth Increased from S22,S7 In 1897 to SSi72 in 1OOS--- Total Doubled in Twenty
 Years.

Washington, Dec. 3.--Charles FL Treat. treasurer of tho United States, Tn his annual report calls attention to the fact that owing to tho disturb ed relations between the financial in- come and outgo of the government there was a deficiency last year of $58,OT0,201 as against a surplus for the preceding year of $S4,236,5S6 and points out that the total revenues for 1908 exceeded any preceding fiscal year except 1907. Treasurer Treat points out that thus 1t is apparent that the trouble is not in decreasing receipts but in increasing expenditures which situation the treasury was able to meet with the excess of revenues which accumulated during the prev ious years.
 The steady flow of gold into the treasury" the report says, continues to excite an absorbing study of the resources of country so favored in the distribution Of the precious metal. The amount of gold coin actually used Tn the channels of trade is less than one-half of the general stock of gold coin in the country, owing to the in- ereasing popularity of the gold cer- t!ficates, which are the representatives of gold coin deposited in the treasury under provisions of law.
 T'he" general stock of the money in the country at the close of the last 1s- cal year was s3,S7S,764O2O, an increase of S26320S,013, as compared with that of year ago. The money in crcula- ton for the past eleven years has steadily increased the growth per cap ita advanced from s22S7 in 1897 to sS4. 7a in 1908. Population has more than dou- bled every thirty years, while the wealth of the nation has more than doubled every twenty years. There is legitimate demand for an enormous amount of money in developing the growing industries and expanding trade relations, but no method employ cd by which that demand per capita can be measured, The volume of cur rency should not be based upon the ln- dividual man or per capita. but upon the volume of products produced hy nan, measured by the market value thereof"
 There were 266,3oS,572 pieces of Unit. ed States paper currency In circulation october 1, though the paper circulation issued directly by the government is in better condition than for many years past. The report suggests that in justice to the people of all sections the government should maintain 1t. paper issues In good condition, ant that for sanitary reasons 1t should pro wide for its transportation 10 the treas ury for redemption.
 National bank notes presented fol redemption" the report adds, "aggre gated S34S, S,549,2S0, equal to 52.7S pei cent. of the average amount of notes outstanding during the year. The ne growth in the bank note circulation was S94,545,227 There was $32S b35,35 in lawful money deposited ir the treasury on account of transac tons In national bank circulation S260, 0,6T8. 9SS gor the 5 per cent. funr and S67,S56, 369 for the retirement O such circulation The deposits O lawful money in the treasury 10 retr nationa bank notes under the act linn jtlng such deposits to Sl0S,000, 900 an nually aggregated S87112,S37. Bank have availed of but little more tha' one third of the option; therefore tn law is not restrictive on retirement until the limit of S9,0o0,oOo per mont has been reached