| Show OF OFTE THE TE TREASURY Treasurer Ells Ellis HI H Roberts Makes His Annual Report GASH CASh BALANCE Ct of 1 Ii ce Ivr Over I lx x II o Over v c I I No Nov It H noh Itoh or of the United States Statu lii hi his annual report says that nit Ihl magnItude of at the balance and the hold inRI logs of at gross roB gold are tIme tho ot of the condition or of th the tl II at the close clope of the tho fiscal year i OZ The tl net ordinary for tor 10 year were wert and the ex 7 showing I a sut SUI plus or of In comparison with the previous year was n decrease or of 2 In Inte inthe the te offset I by u a falling off art or of II In tue there was 11 aim Increase ot of G 2 II In 1 tie tram from customs the tho tinder the thu operation of nv new newitt 11 itt tho war taxes S fel fell ar off Theme Tho was I a a af of f In expenditures on account of the ike Wil war department and an increase or of In iii the cost ot of the navy TOTAL OTAL m The total receIpts or of time the year car from al all sources Including time tho debt Ire Ind the disburse ment United States and notes vero redeemed n a gOil to the amount of at of at tIt and of the latter wih any uny Impairment ot of time tho gold roo re vc or it In tle tIme first quarter or of time tho fiscal year ea the or if Internal In laer larger ratio from the tho of I Icet or of time the act of AI 12 1902 repeat mig Wil ar taxes reaching The II total receipts were vere however for the quarter The Thi 1 ures on the tho other hand ns as compared the July August and increased b by The fht LCt t result II Is an excess of at receipts o 0 CASH I The available cash balance balanco In time the I Jil July 1 1902 was the tho largest net balance In our history I It amount fl 1 to The Tho gold reserve Is In ns as It Is available for th the of legal tender notes Time Tho In national banks to time the credi credit of 01 tIme treasurer and disbursIng ere vere The subsIdiary silver lver f Ind mind the mInor coIns CI could II hardly be used for large pa pus meats ment nor Is the Ilver silver to bi 1 r reckoned for lor such purpose Wih such I I there in thO the lIens Ul vaults auls on in Jul I 1 a little over m 72 I o As Is d deemed n a au working fund tunI about coull 11 imi d ly By Oct I 1 this excess ho bu came cume and aminO justified 1 to reduce I it Iy ily Nov 1 it Il was Waa brought to Ing a fund trifle over below the work workIng Tm COIN Nearly or of the tho available cash Ju July 1 was as In gold comm coin c certIficates over arid above aboc fIe I old reserve resele of UI and by bv Oct li 1 It became As n a len ure or of time the financial strength of time the gO gov I tho hue report says the Iho fact 1 dt serves mention I fly Oct 1 1902 2 time ca cash h balance exclusive ot of this th reserve was timid and owIng to the hI large measures for or the relief of the mone money market It was wall reduced by Nov 1 to Ot Of this sum Ivas ns In national banks YAU OJ OF BOND of at time the face value alue of at vere during the fiscal year for the sinking at n a total cost or of iOUI tor or principal premium and were Inde made of 2 00 bonds or of time the loan lonn of 1904 at 10 and In Oct t 4 per edit cent of 1925 were acre boug bought to time the amount ot of for In time the of In eluding premium and accrued Interest The Interest due Oct Oct I 1 1901 amounting to was vas anticipated on Sept 16 That due Jams 1 1902 fo or was anticipated on Dc Dec 16 On Sept 13 1902 tIme the Interest due Oct I 1 IM was anticipated and on Oct 21 20 the In Interest interest terest due No Nov 1 for was pall paid In advance Durin October Interest to the amount of was In advance with n it rebate of tinder al an offer of at the secretary covering all bon bonds lis anI and ther their up to JUI JulY J 1 1 1903 1 3 1 I Sg IN the of time public debt debton on ther their tlc ace an ot of 16 11 II Iii time the total of Jf time the doot deI I it Il mU he Ild muade for time or of In 1 g Id hiS certificates at the ni an will I be to have dimInished t by during the 11 Its cal eal 11 t Flue held by th III as tN for tw notes of time national banks Iee mere le ie 8 at al lw thu tho end or of time year Ial thou 12 months bIl bu In the caine Interval the held or deposits In the tho banks wore were S greater so ao that time the In held for both pUrla purposes es was 9 Time Tho banIs wih with for circulation on June Jimmie 40 0 auto num I r t al aim additIon tho the var ot of ihne wih with pledges for tor public money werl 77 Snore ore than 50 per cent or of the banks limo tho or I are rl le s CO for tor one ouie third ot of tho banks tl bonds tel all he be below helow low In Ilch caSt case Out of the 1501 hanks banks with pledged for Jess hess limit have bonds for no nomore more thal than wih with time This number Increase increased 23 durIng the fiscal year Ir Time bonds for tor whIch were on Oct Oct I 1 1801 fel tell to 75 01 Jle 4 1902 to on June 30 30 On Oct I 1 lWY they were ansi on Nov NOI J 1 Th These se show u a len ure or of elan In notes baseil on bonds ro the general stock or of lony In the country an addition or of I IS was mane during the fiscal year or Of this 27 WIS was II In goki Fohl coin until hulon bullion Theme was 1110 sin nn increase or of In standard dollars nod o In silver States 01 noll notes remaIned under the law In hanged Treasury notes noto tel fell ott orr NI Isa hank noteN received In an lucre ment of The gold coin Ind bullon bullIon Oct I 1 exceeded ni nil other kinds Ir of mone excludIng national hank by In five years crl time ratio or gold In time the country to 10 ni all hits hns run up from fromn to to the hundred MONEY CAPITA rime growth or Ct time tho volume or of money In circulation during tto time year wa vUu 7 74 0 currying th the tier capita from rUin 2798 to Tim Tho element ot of gUilt ol coin coimi anti gold ll certificates Wil was the larg oct part the Increase readied 61 and advanced from 41 30 per ver percent cent ot at time the total to per cent In silver or of 11 nil Including there was waD nn Increase of 2210 ot of which In coIn The he reduction In treasury notes of Is due to their wal The advance In In the ot of gold including within 12 years by time the large 1 SUI of Is the measure of the great or er of at our circulation Time o addi additon ton lion during time the Past l fiscal year was 61 TIme Increase tn time the future cnn hardly lIe be lerl hers than I to 60 1 0 n a year ear earThe The mine the tho report RIY says are thus confirmIng the 1011 nail Invincibly and It J For or time the immediate Irl nt amid for fortel a afew tel few years nl at least least the Inlow inflow or of gold wi Iii bo be In large measure ns as to lift the volume of currency to the level or of al all needs nerdA or of business Our cur currency rency keeps more titan equal with time the population On June 21 tIme the gold certificates out or thin tho first fiat time exceeded In volume time the States nut werl Cr Uy November they were NOTES The gold old In time the treasury keeps In Inactive active circulation a as currency the con cel It nd and moore moru o e r lii In United und and In hum treasury II notes S or over JI OO lore moore than Is Its own value Time he Ilu ston Il many wel well be ron corm eldered Idere whether r time the Un United lied States otes tony lot not properly lie be by Con Congress Into gold certificates They hll much more quality already tIme the change could be gradually made IH Uw supply or of gold old on great yr er or of time the people or notes of small Imams hns time the clo closest esl ot of the currency 1 1850 1680 there were 37 l pl pieces fel of government paper Is Issued sued of the Valmie of 1661 Ia IlL time the Issue was 1 and th time average value t 4 The fhe facilities for or been of often tel and IW seel to be for pres present cut ent Time The currency Is from Washington to 10 time the sub treasurIes arid and banks bank during the fiscal year nr to S t In the yer year preceding The act or of 1 14 1900 make It IL time the duty ot of the secretary of t time the tr reaM as asur ur to maIntaIn the parity ot of value vahle ot of nil forms of monet moner h Issued ue or coined by 19 the United States State wih WIth th goll standard landard defined anil by that laW This Thill hu iia been in and 18 I now eaSt h I and 11 all kInds kInd or of govern mone mooney are wih with elch each other The Inlow hallow ot elf Joll gohl permIttIng time the free I issue sue or of gold certIficates of 20 and upward II Is the kr to this or of and amI Int of at ni all kinds of government money On time the other uther hand mal In eluding sliver 11 coin ar are constantly In demant for tile the myriad mla of retail trade and d the tho current les uSes or of ruml K tot delI as for flue tho In iii factories and harvest fields Time ho In recent years hl uch lure more for tor silver lver and entail noteS for tor gold I It Is now Ille able to tarot meet al all cul calls I for tor ever every of or Is its own tlona rl fil and for or Ira ii As n a Ie result ul of time which have been Ur paper currency Is II Iii simplicity ni large d uio go II I 1 1111 mind th t In notes 11 nil 10 0 wi will hI be States State al nit during time the fiscal year NII or of banks Ui 69 der tiered 11 Time The total number or of chartered to 30 I 1002 02 Wll wits or of were 11 lii 1770 oUt nut or of was al Itt the of and II Ihl coin to from the rims rh of Ivel II dollars 1 nil unit the for wr were 2 greater than Issues fil Flit mm t of f suh coIn out wal as by 2 to 1 9 was a fail failI Ing I off In iii time the ot of spurious Col fl amid paper mOIO |
