The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1908-12-10
IVA ATOMS
MONEYS |. { ] !
Are Reported Plentiful by
Secretary Cortelyou Since
the So Called Panic.

= -
4 WASHINGTON, u. g., Dec. o.
The annuef report of Mr.. cortelyou,
the Secretary orthe Treasury, shows
a reversal of conditions for the fiscal
year 1908 as compared with the
fiscal year for 1907. ForSthe latts-
year the receipts were ss4.23s,5ss In
excess of the Advertisements. For
the fiscal year 1908 the disburse-
ments were s5s.o1o.2o1 in excess OF
the receipts. due 70 business depres-
sion and Increased! appropriations.
Fortunately. the report says, the
available cash balance at the Begin
ming of the fiscal year was s27.,-
061.445.
the treasury was called upon in
the latter part Of October, 1907, to
render assistance in financial panic
which started In New York City and
which gradually; extended over the
entire country Through treasury
operations during this financial dis
turbance the amount of public de-
posts with the. banks reached $780,
l54S.321 on November 9th, 1907, and
on December 81, 1907. the maximum
of $259,994.271 was attained. after
which 1t was decreased to $256,92G,-
1874 by the close of the month.
Further Withdrawals decreased this
amount to s11S,37a.536, on Noyem-
her IS, 1908. At THE beginning of
the present fiscal year there was a
freer circulation ofsmoney and large
amounts were returned to the finan-
cial centers and some of the depos-
tories voluntarily returned to the
Treasury a part ofttheir. holding of
public deposits, amounting in all to
approximately four million dollars
A further withdrawal of public mon
ey from depositary banks In New
York City, made In January. amount
ed to $s.s50,000, making the bal
ance in the banks to the credit Of
the general fund at the end of jan
rary, $226,241,41S.
rrrther voluntary surrender of de-
posts rere made during February,
and on lure 80 the general fund had
been reduced to $i4s. 900. 600.
The aggregate of trust funds. con-
sisting of gold coil. rnd standard sill
| yer dollars held fornt., redemption
of certificates and notes 'or which
they were respectively pleor>d in
creased 100000 durins the
year.
The monetary stock for the year
increased $26S,203,000. The growth
in gold was s151,744,3s1. In sill
yer. $17,919,395; national bank
notes $94.545,227. AT the same
time there was decrease of 81, 006,-
1000. AT the close of the fiscal year,
1905, the money in circulation
amounted to $3,03S,015,4ss, or a
per capita of $34.72. The percent
age of gold to circulation was $45.95.
Therewas an increase of $94,545,227
! in the volume of national bank notes
during theft seal year closed July 1
4 last.
The amount of interest bearing
debt on June 80, 1907, is shown to
have been, 1894, 902.760 and on
June 30. 1908, ss7.5os.sso.
The report shows that from the
date of the passage of the national
bank, act in 1863 to July /, 1908,
\ charters were granted to 9,174 ma
tional banking associations and at
the close of the last fiscal year there
were in operation e,s27 associations.
with authorized capital stock of
$3.50, 542. TIA. Banks to the num-
[ Der OF 1878 have been closed by the
voluntary action OF their stockhold-
ers and 469 insolvent associations
have been placed IN charge of re-
ceivers.
4 There were purchased for the coin
age of subsidiary silver during the
fiscal year 16,s56.309 ounces of sill
yer boulllon at cost of $s,923,026.
The receipts from internal revenue
taxes for the fiscal year 1908. were
lS251.711,126, a net decrease from
1907 OF $17.955,646. The customs
receipts for the same period amount
ed to ,$2S6.112,130, a decrease for
1.-THE year OF about $4,000 900.
Basing his figures on the estimates
OF appropriations already submitted
4 by the several executive depart
ments the Secretary is of the opinion
that the excess OF expenditures ovei
receipts 70 rbhe fiscay year ending
!, June 80, 1910. may reach $143.,
i O46,796.
Realizing that sudden changes In
the customs standing of imported
merchandise are unfair to business
and introduce an element of uncer.
tainty. the secretary has Instituted /,
new system by which when thu
4 classification of goods is changed
(which results in the payment OF 1
! higher rate of duty: ample, notice /.
given to those Interested
q There have been just completed
I Continued on page So