Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-11-11
RECORD IN REVENUES
Government Receipts Last
Year Greatest in History.
DECREASED CUSTOMS DUES
United States Treasurer Meetings.
Annual Report.
SURPLUS OF OVER $47, zoo, 900
Recommends Better Facilities for
Exchanging Worn Paper and
Issue of Gold Certificates.
Facts in Treasurers Report.

Increased salaries FOR his subordinate
officers, better facilities for exchanging
worn paper ard the issue OF five-dollaar
cold certificates are some of the recon-
mendations made ny Lee MCC'lung, treas
urer Of the United states. in his annual
report for the last fiscal year, submitted
to the Secretary 81 the Treasury today.
Personal bonds for officials and employees
handling money restriction on amount OF
fve-dollar bank notes and the increase OF
the per cent bank note redemption
fund also are advocated.
According TO the report a new record
was made in the ordinary receipts of the
government for the fiscal year 1911. which
attained a maximum at S101.312-S4.S9.
notwithstanding a decrease of S19. 1885,
81: 80 in receipts from customs. as COM
pared with those of 1910. which. 1t Is
fair top resume. was caused by the
discussion of tariff schedules in Congress
and the action probable in the near fu-
ture in reduction of rates of duties. How
ever. this decrease was more than onset
by increased receipts from internal reve-
nue. Ordinary. corporation tax and mis-
cellaneous sources. so that the net IN
crease from all ordinary sources for the
year was S25.s6O. 6o9.91.
The total ordinary disbursements were
s6J4, 1877 .997S9. which. by classified COM
parison with 1910. shows net decrease
in the total of civil and miscellaneous
accounts, the Navy Department, pensions
and interest on the public debt, while in
creased disbursements are recorded In the
War Department and on account OF IN
dams. The net result on ordinary dis
bursements was decrease of $780,
500. 10. The surplus on ordinary tranSac-
lions for the year was $4I.s3i.ST7lo.
Increase of Available Cash.
The available cash in the general fund
AT the close of the year was $40, 49,
Ii, an Increase of $50. 2S22, go. 70, as
compared with that of twelve months
earlier OF this amount there was a
working balance in the vaults Of the
Treasury of S71.5S6. S46o3. which is larger
than the Treasury actually requires. As
there is no emergency calling for an in
crease of government deposits in banks.
the Treasury may by keeping the cash in
its own vaults In time OF monetary ease
prevent the use of the funds for the pro-
motion of speculative expansion If, how
ever. financial conditions should become
strained the Secretary of the Treasury
f. in position OF give prompt and eff
fective relief TO the business situation.
The public moneys held by national
banks at the beginning of the year
amounted to 5000. 5S5.13. and the
changes therein were scarcely noticeable
during the following ten months, though
the trend was slightly downward. By
the end of the year the amount became
SiI.647, t6i %.
The national bank notes presented for
redemption during the year amounted to
SOL ,si51 $50. equal to 76.OS per cent of the
average amount OF such notes outstand-
ing during the year. Compared with
1910. the sum is 5000, 0O2 or 81 per
ic he " INN
scented in any year In the history Of such
redemptions. The expenses incurred for
such redemptions were 443.3S0. II. which
has been assessed on the banks at the
rate of So.S1917 per 81 900 of notes re-
deemed.
U. S. Notes and Certificates.
THE notes and certificates of United
States paper currency issued during the
year numbered 267. 2U7 .321 pieces. OF the
total value of s9l3.5f0.OOO. The redemp-
tons were 23l. lS9 162 pieces. of the total
value OF $s07 $50 200: while the pieces out
standing number 3O9946. 1i6. OF the total
value of 1859. 236. $50 The average cost
of each piece of United States paper cur
rency issued and redeemed is about 1-526
cents, and the annual cost OF maintenance
OF the currency issued by the national
government averages slightly more than
cne-rfth OF one per cent of the amount
outstanding. ;
The redemptions from the reserve fund
during the fiscal year were. In United
States notes S22.Si4. 49,. and in Treasury
notes, S@s iGb. making a total of 81 Sy2.-
80. The redeemed notes We're exchanged
for gold coin each day. and thereby the
reserve was maintain at the fixed
amount of slaO.OO0OOO.
The general stock OF money In the
United States At the close of the fiscal
year 1911 was 81, sos a5s,97T. an increase
of S13s.367. i9i during the year. Of which
STAT .1S3.244 was in gold coin and bullion.
National bank notes received an incre-
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