| Show THE TREASURY REPORT The report of the Secretary oC the Treasury summarized this morning shows that this has now got to be a good deal more than ablllion dollar country The receipts of the year ending end-ing June 30th last were G9931G53029 and the expenditures 5C2159S54G54 leaving a surplus of 7771798138 In order to relieve the people of as much taxation as possible and still provide imply fpr all demands upon the Treas iry Congress took off war taxation whIch had yielded 10000000 a year but such was the tremendous wealth and active prosperity of the country that the receipts of the current year on the basis of the present laws will be 688 633042 and the expenditures 58SG33042 leaving an even 100000000 surplus That is Congress cannot reduce the revenue fast enough fo keep It down to i the needs of the Treasury What a contrast with the budgets of European nations where deficits arc the rule and even with our own Treasury statements state-ments under the last Democratic administration ad-ministration The tremendous holding of 342831849 In gold by the Treasury = on November 1 t 1901 is unprecedented and the growing grow-ing use of gold and subsidiary silver coin by the people Is noted also the constant additions to the currency of the small denominations of paper Gold certificates are used almost exclusively in the payment of customs duties and In the settlements of the clcUrlnghouse in New York The stock of subsidiary sliver coin yas estimated to be 90G13 512 on November l 1901 of which but 8461829 wan in the Treasury showing 82148083 In general circulation an increase in-crease oC 7111110 of this coin absorbed ab-sorbed by the people n twenty months The act of MarchII 1901 limited the coinage of subsidiary sliver sli-ver pieces to 100000000 but in view of the near approach to this limit and the continued call for these COh6 the Secretary recommends that the limit be raised The currency Government notes Issues Is-sues redemptions etc are explained all showing most lively movements The production of gold In the world Is given at 57514700 in 1900 of which the United States produced l 79171000 the largest amount of any nation The industrial in-dustrial consumption of gold in the United States for the same year was reckoned at 1GG67GOO and In the world approximately 75000000 leaving the balance for coinage The report io a most gratifying one showing excellent management by Secretary Sec-retary Gage and proving the United i Stales In wealth active Industries and power of raising revenue without distress dis-tress to the people to he far and away the leading Nation of the world I |
