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ANNUAL REPORT OF THE
ecretary of the Treasury
ON THE STATE OF THE
FINANCES
FOR THE FISCAL YEAR
ENDED JUNE 30
1910
With Appendices
WASHINGTON
GOVERNMENT PRINTING OFFICE
1911
TREASURY DEPARTMENT,
Document No. 2597.
Secretary.
CONTENTS.
Page.
ESTIMATES
PANAMA CANAL B O N D S
B A N K I N G AND CURRENCY
NATIOI^TAL CURRENCY ASSOCIATIONS.
NATIONAL B A N K S
1
3
4
5
5
National banks abroad
The larger scope of national banks
".
6
-6
RELATIONS OP THE DEPARTMENT WITH B U S I N E S S COMMUNITIES
GOLD CERTIFICATES FOR BULLION AND F O R E I G N . COIN
POSTAL SAVINGS SYSTEM
SINKING F U N D
CUSTOMS SERVICE
Passengers' baggage
Ap;propriations for rewards
Politics reduced
7
8
9
9
9
10
12
12
,
T H E CLASSIFIED S E R V I C E .
IMPROVED CLASSIFIED SYSTEM
CIVIL SERVICE R E T I R E M E N T
L I F E - S A V I N G SERVICE
EFFICIENCY AND ECONOMY
:
Alterations in the Treasury building
Chief clerk and disbursing clerk
Investigations by special committees
Special agents
E x t e n t of possible economies
Superfluous custom-houses, mints, and assay offices
Public buildings
CENTRAL P O W E R P L A N T
M I N O R INCREASES
T H E BUDGET IDEA
T H E OLEOMARGARINE L A W
P U B L I C - H E A L T H SERVICE
R E V E N U E - C U T T E R SCHOOL
CONTINGENT F U N D
B O N D I N G O F OFFICIALS.
ASSAY OFFICE AT N E W Y O R K
T A R I F F BOARD
FINANCES
R E C E I P T S AND D I S B U R S E M E N T S , FISCAL Y E A R 1910
12
13
14
15
16
'.
17
17
17
18
19
19
20
,
.
*
Ordinary receipts
Ordinary disbursements
Panama Canal
Public-debt receipts
Public-debt disbursements
Summary
' 26
26
26
- -- 27
- -.
27
28
SECURITIES R E D E E M E D ON ACCOUNT OF S I N K I N G F U N D .
CONDITION OF THE T R E A S U R Y J U N E 30, 1910
CASH IN THE T R E A S U R Y J U N E 3 0 , 1 9 1 0 . .
COMPARISON OF R E C E I P T S , FISCAL Y E A R S 1909 AND 1910
COMPARISON OF D I S B U R S E M E N T S , FISCAL Y E A R S 1909 AND 1910
ESTIMATED ORDINARY R E C E I P T S , FISCAL Y E A R 1911
ESTIMATED ORDINARY D I S B U R S E M E N T S , FISCAL Y E A R 1911.
ESTIMATED ORDINARY R E C E I P T S , FISCAL Y E A R 1912
E S T I M A T E S OF APPROPRIATIONS, FISCAL Y E A R 1912, AS SUBMITTED BY E X E C U TIVE DEPARTMENTS
20
21
22
23
24
24
25
25
25
25
26
26
ni
-V
^
28
29
29
31
32
36
36
36
37
IV
CONTENTS.
Page.
STATEMENT OF ESTIMATES OF APPROPRIATIONS FOR 1912
APPROPRIATIONS FOR 1911
E X H I B I T OF APPROPRIATIONS FOR 1911
D E C R E A S E D UNDER
:
38
39
Abstracts of reports of bureaus and divisions.
T R E A S U R E R OF THE U N I T E D STATES
43
District of Columbia
45
COMPTROLLER OF THE CURRENCY
M I N T SERVICE
:
Deposits
^ CoinageProfits on subsidiary silver and minor coins
Annual settlements
:
iPurchases
New York assay office
Minor assay offices
.,
Earnings and expenditures
Annual assay commission
:
46
50
,
...'..
INTERNAL R E V E N U E
B U R E A U OF ENGRAVING AND P R I N T I N G
SUPERVISING ARCHITECT.
PUBLIC H E A L T H AND M A R I N E - H O S P I T A L SERVICE
Division of scientific research
Division of foreign and insular quarantine
Division of domestic (interstate) quarantine
Division of sanitary reports and statistics
Division of marine hospitals and relief
Division of personnel and accounts
Miscellaneous division
,
,
62
65
Vessels
J
•....
Control of regattas
,
Service station at Dutch Harbor or Unalaskal
D I V I S I O N OF L O A N S AND CURRENCY
D I V I S I O N OF P U B L I C M O N E Y S .
DIVISION OF B O O K K E E P I N G AND W A R R A N T S
53
54
55
57
57
59
59 '
60
60
-61
61
\
L I F E - S A V I N G SERVICE
R E V E N U E - C U T T E R SERVICE
50
51
61
51
51
52
52
52
53
67
67
67
,
,
State bonds and stocks owned by the United States
Territory of Hawaii
'.
70
70
SECRET-SERVICE D I V I S I O N
D I V I S I O N OF P R I N T I N G AND STATIONERY
Printing and binding
Stationery
68
68
69
70
71
".
71
72
Tables accompanying the report of the Secretary.
TABLE A.—Statement of the outstanding principal of the public debt of the
United States June 30, 1910
TABLE B.—Statement of the outstanding principal of the public debt of the
United States on t h e 1st of J u l y of each year from 1856 to 1910,
inclusive
,
.TABLE C.—Analysis of the principal of t h e interest-bearing public debt of the
United States from J u l y 1, 1856, to J u l y 1, 1910
TABLE D.—Statement of the issue and redemption of loans and Treasury notes
and of deposits and redemptions in national-bank note account
(by warrants) for the fiscal year ended J u n e 30,1910
TABLE E.—Sinking-fund account for the fiscal year 1910
'...
TABLE F.—Population, ordinary receipts and disbursements of t h e Government from 1837 to 1910, exclusive of postal, and per capita on
receipts and per capita on disbursements
TABLE G.—Statement showing the ordinary receipts and disbursements of the
Government b y months; t h e legal-tender notes, net gold, and
available cash in t h e Treasury, at the end of each month; the
monthly redemption of legal-tender notes in gold and the imports
and exports of gold, from July, 1896, to June, 1910, i n c l u s i v e —
77
91
93
95
96
97
98
CONTENTS.
V
,
Page.
TABLE H.—Statement of the balance in the general fund of the Treasury, including the gold reserve, b y calendar years, from 1791 to 1842,
and b y fiscal years from 1843 to 1910, inclusive
103
TABLE I.—Receipts and disbursements of the United States from 1791 to
1910, inclusive
104
TABLE J.—Statement of the coin and paper circulation of the United States
from 1860 to 1910, inclusive, with the amount of circulation per
capita
.'...•
116
TABLE K.—Statement of United States bonds and other obligations received
and issued b y the office of the Secretary of the Treasury from
November 1, 1909, to October 31, 1910
117
TABLE L.—Internal and customs receipts and expenses of collecting, from
1858 to 1910, inclusive
118
TABLE M.—Statement showing the aggregate receipts, expenses, average number of persons employed, and cost to collect internal revenue in
the several collection districts during the fiscal year ended June
30, 1 9 1 0 . . . . . . . . . . .
119
TABLE N.—Statement of business of the customs districts for the fiscal year
ended J u n e 30, 1 9 1 0 . . . . . .
121
R E P O R T OF T H E T R E A S U R E R
•
129-240
Receipts and disbursements for 1909 and 1910.
129*
Panama Canal
:
'.
130
Receipts and disbursements on account of the Post-Office D e p a r t m e n t . . . .
131
Transactions in the public debt
i
131
Public debt, 1909 and 1910
:
,
132
Matured bonds not presented for redemption
133
Interest checks not delivered to owners
133
Reserve and trust funds
134
Redemption of notes in g o l d . . . . .
,
134
State of the Treasury, general fund—cash in the vaults
• 134
Net available cash balance, 1900 to 1910
136
Gold in the Treasury from 1900
136
Bonds held as security for national-bank chculation and deposits
137
Withdrawal of bonds to secure circulation
138
National banks designated as depositaries
138
Classification of depositaries b y States and sections
' 139
Public deposits in national banks
140
Unavailable funds of the General Treasury
.•
140
Monetary stock, 1909 and 1910
:
,.
141
Ratio of gold to total stock of money
142
Money in circulation
,
143
Circulation and population
143
Condition of t h e United States paper currency
^
144
United States notes
....'
144
Treasury notes of 1890
~
144
Gold certificates
\ .
144
Silver certificates
145
Changes in denorhinations during fiscal year 1910'.
145
Denominations outstanding J u n e 30, 1910
146
Ratio of small denominations to all paper
146
Cost of paper currency
147
Average life of paper currency
147
Paper currency prepared for issue and amount issued
148
Paper currency redeemed
:
149
Standard silver dollars
150
Subsidiary silver coin
'.
^
151
Minor coin.
'.
-. -.
152
Transfers for deposits in New York—money for moving the crops.
153
Exchange for gold received a t mints and assay offices
155
Shipments of currency from Washington, 1909 and 1910
155
Recoinage, 1909 and 1910
156
Redemption and exchange of all kinds of money
,
156
Redemption of national-bank notes
157
Spurious issues detected in the fiscal year
160
Special trust funds and changes therein during the fiscal year
160
District of Columbia sinking fund
•
161
Legislation recommended
161
VI
CONTENTS.
Tables accompanying the report ofthe Treasurer.
Page.
No. 1.—Receipts and disbursements for the fiscal year 1910
No. 2.—Net ordinary receipts and disbursements for each quarter of the fiscal
year 1910.
No. 3.—Receipts and disbursements on account of the Post-Office Department
for the fiscal year 1910
No. 4.—Post-Office Department warrants issued, paid, and outstanding for the
fiscal year 1910
No. 5.—Receipts and disbursements of each kind of money on all accounts at
the Treasury, in Washington, for the fiscal year 1910
No. 6.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in Baltimore for the fiscal year 1910
No. 7.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in New York for the fiscal year 1910
No. 8.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in Philadelphia for the fiscal year 1910
No. 9.—^Receipts and disbursements of each kind of money on all accounts at
the subtreasury in Boston for the fiscal year 1910
No. 10.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in Cincinnati for the fiscal year 1910
No. 11.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in Chicago for the fiscal year 1910
• No. 12.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in St. Louis for the fiscal year 1910
No. 13.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in New Orleans for the fiscal year 1910
No. 14.—Receipts and disbursements of each kind of money on all accounts at
the subtreasury in San Francisco for the fiscal year 1910.
No. 15.—Total receipts and disbursements of each kind of money on all accounts
at the Treasury offices for the fiscal year 1910.
'.
No. 16.—Assets and liabilities of the Treasury offices, June 30, 1910
No. 17.—Assets of the Treasury in the custody of mints and assay offices, June
^
30, 1910....
No. 18.—General distribution of the assets and liabilities of the Treasury
No. 19.—Distribution of the General Treasury balance, June 30, 1910
No. 20.—Available assets and net liabilities of the Treasury at the close of June,
1909 and 1910
:...
No. 21.—Assets and liabilities of the Treasury in excess of certificates and
Treasury notes at the qlose of June, 1909 and 1910
No. 22.—Unavailable funds of the Treasury and Post-Office Department
No. 23.—Estimated stock of gold coin and bullion, the amount in the Treasury,
and the amount in circulation at the end of each month, from January, 1904
No. 24.—Estimated stock of silver coin, the amount in the Treasury, and the
amount in circulation at the end of each month, from January, 1904.
Also silver, other than stock, held in the Treasury
No. 25.—^United States notes. Treasury notes, and national-bank notes outstanding, in the Treasury, and in circulation at lhe end of each
month, from January, 1904
No. 26.—Gold certificates and silver certificates outstanding, in the Treasury,
and in circulation at the end of each month, from January, 1904
No. 27.—Estimated stock of all kinds of money at the end of each month, from
January, 1904
No. 28.—Estimated'amount of all kinds of money in circulation at the end of
each month, from January, 1904....
No. 29.—Assets of the Treasury other than gold, silver, notes, and certificates at
the end of each month, from January, 1904
No. 30.—Assets of the Treasury at the end of each month, from January, 1904..
No. 31.—Liabilities of the Treasury at the end of each month, from January,
1904
'
No. 32.—United States notes of each denomination issued, redeemed, and outstanding at the close of each fiscal year, from 1902
No. 33.—Treasury notes of 1890 of each denomination issued, redeemed, and
outstanding at the close of each fiscal year, from 1902
No. 34.—Gold certificates of each denomination issued, redeeined, and outstanding at the close of each fiscal year, from 1902
^..
163
163
164
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
178 •
179
179
180
181
185
189
193
197
198
199
200
201
202
204
205
CONTENTS.
VII
Page.
No. 35.—Silver certificates of each denomination issued, redeemed, and outstanding at the close of each fiscal year, from 19(32
207
No. 36.—Amount of United.States notes. Treasury notes, gold and silver certificates of each denomination issued, redeemed, and outstanding at the
close of each fiscal year, from 1902
208
No. 37.—Amount of paper currency of each denomination outstanding at the •
close of each fiscal year from 1902.
210
No. 38.—Old demand notes of each denomination issued, redeemed, and outK standing June 30, 1910
213
No. 39.-^Fractional currency of each denomination issued, redeemed, and outstanding June 30, 1910
213
No. 40.—Compound-interest notes of each denomination issued, redeemed, and
outstanding June 30, 1910
213
No. 41.—One and two year notes of each denomination issued, redeemed, and
outstanding June 30, 1910
213
No. 42.—United States paper currency>of each class, together with one and two
year notes and compound-interest notes issued, redeemed, and outstanding June 30, 1910
"
214
No. 43.—United States notes and Treasury notes redeemed in gold, and imports
and exports of gold during each fiscal year from 1897
214
No, 44.—Treasury notes of 1890 retired by redemption in silver dollars, and outstanding, together with the silver in the Treasury purchased by such
notes, for each month from January, 1904
. 215
No. 45.—Transactions between the subtreasury and clearing house in New York
during each month from January, 1904
216
No. 46.—Amount of each kind of money used in settlement of clearing-house
balances against the subtreasury in New York during each month
from January, 1904
217
No. 47.—Shipments of silver coin from each office of the Treasury and Mint
from July 1, 1885
„
218
No. 48.—Shipments of silver coin from the Treasury offices and mints during
each fiscal year from 1895, and charges thereon for transportation..
218
No. 49.—Balance in the Treasury, amount in Treasury offices, and amount in
depositary banks from 1789 to 1910
219
No. 50.—National banks designated depositaries of public moneys, with the
balance held June 30, 1910
221
No. 51.—Number of national banks with semiannual duty paid, by fiscal years,
and number of depositaries with bonds as security, by fiscal years..
226
No. 52.—Receipts and disbursements of public moneys through national-bank
depositaries, by fiscal years, from 1895
227
No. 53.—Seven-thirty notes issued, redeemed, and outstanding June 30, 1910..
227
No. 54.^—Coupons from United States bonds and interest notes paid during the
fiscal year 1910, classified by loans
227
No. 55.—Checks issued for interest on registered bonds during the fiscal year
1910
228
No. 56.—Interest on 3.65 per cent bonds of the District of Columbia paid during
the fiscal year 1910
228
No. 57'.—Refunding certificates, act of February 26,1879, issued, redeemed, and
outstanding
228
No. 58.—Public debt at t h e close of June, 1909 and 1910, and changes during
the year
229
No. 59.—United States bonds retired from May, 1869, to June 30, 1910
230
No. 6 0 . ^ B o n d s a n d other securities retired for the sinking fund'during the fiscal
year 1910, and total from May, 1869
231
No. 6i.—Public debt, exclusive of certificates and Treasury notes, at the end of
each month from January, 1904
232
No. 62.—Lawful money deposited in the Treasury each month of the fiscal yea^
1910 for the redemption of national-bank notes
233
No. 63.—Disbursements from redemption accounts of national banks each
month of the fiscal year 1910
233
No. 64.—National-bank notes received for redemption from the principal cities
and other places each month of the fiscal year 1910, in thousands of
dollars
233
No. 65.—National-bank notes outstanding at the end of each month, and
monthly redemptions, from January, 1901
234
VIII
CONTENTS.
Page.
No. 66.—Redemptions and deliveries of national-bank notes each month of the
fiscal year 1910
.'
No. 67.—Redeemed national-bank notes delivered from the Treasury each
month of the fiscal year 1910
No. 68.—Assets and liabilities of the 5 per cent redemption fund of national
banks at the end of each month of t h e fiscal year 1910
No. 69.—National-bank notes received for redemption from the principal cities
and other places, by fiscal years, from 1895, in thousands of dollars..
No. 70.—Result of the count of national-bank notes received for redemption, b y
fiscal years, from 1895.
No. 71.—Disposition made of the notes redeemed at the National Bank Redemption Agency, by fiscal years, from 1895
^
No. 72.—Mode of payment for notes redeemed at the National Bank Redemption Agency, by fiscal years, from 1895
No. 73.—Deposits, redemptions, assessments for expenses, and transfers and
repayments on account of the 5 per cent redemption fund of national
banks, b y fiscal years, from 1895.
No. 74.—Deposits, redemptions, and transfers and repayments on account of
the retirement redemption account, by fiscal years, from 1895
No. 75.—Expenses incurred in the redemption of national-bank notes, by fiscal
years, from 1895
No. 76.—General cash account of the National Bank Redemption Agency for the
fiscal year 1910, and from July 1, 1874
No. 77.—Average amounts of national-bank notes redeemable and amounts
redeemed, b y fiscal years, from 1895
,
No. 78.—Percentage of outstanding national-bank notes redeemed and assorted
each fiscal year from 1900, by geographical divisions
No. 79.—Average amount of national-bank notes outstanding and the redemption, by fiscal years, from 1875 (the first year of the agency)
,
No. 80.—Changes during the fiscal year 1910 in the force employed in the Treasurer's office
No. 81.—Appropriations made for the force employed in the Treasurer's office
and salaries paid during the fiscal year 1910
:
R E P O R T OF THE DIRECTOR OF THE M I N T
Volume of coinage
Automatic machines
:
Reduction in coinage operations
New Orleans mint idle
The minor assay offices
^
Gold certificates against bullion
Deposits of gold bullion
Deposits and purchases of silver
Deposits of gold since 1873
Deposits of silver since 1885.,
Coinage of the United States
Recoinage of standard silver dollars
.•
Recoinage of uncurrent silver coin
•
Coinage of the United States, weight and value since 1873..:
Philippine coinage
Work of Government refineries
Purchases of silver
Balances of silver bullion
The course of silver
Earnings and expenditures, mints and assay offices
Appropriations
Earnings and expenditures of refineries
Consolidated statement of expenditures, b y items
Laboratory of the Bureau of t h e Mint
Proceedings of the assay commission, calendar year 1910
Operations of the mints of the United States:
Philadelphia, Pa
San Francisco, Cal
Denver, Colo
New Orleans, La
Operations of the assay offices:
NewYork
Carson, Nev
235
235
235
236
236
236
237
237
237
238
238
238
239
240
240
240
241-334
.'
241
241
242
242
242
243
244
246
247
248
248
249
249 '
250
250
252
252
253
253
254
254
255
256
257
257
259
267
271
278
275
280
CONTENTS.
IX
REPORT OF THE DIRECTOR OF THE MINT—Continued.
Page.
Operations of t h e assay offices—Continued.
Boise, Idaho
:
•
Helena, Mont
Charlotte, N . C
St. Louis, Mo
Deadwood, S. Dak
Seattle, W a s h . . .
Salt Lake City, Utah
x
•
,
Bullion operations, legal allowance, and wastage, fiscal year 1910
Operations of t h e ingot melting room
Percentage of loss i n melting deposits
Wastage and loss on sale of sweeps and gains from operations
Receipts and disposition of gold bullion, 1910:
Balances, receipts, and disbursements
:
Cost of maintenance
,..'
Freight charges on bullion and coin
Movement of gold from port of New York
Net exports United States gold coin.
Stock of money in t h e United States
Stock of gold and silver i n t h e United States since 1873
United States gold coin in Canada
Gold and silver used in t h e industrial arts in t h e United States, 1909..
Exchange of gold bars for gold coin and gold bullion
'.
World's industrial consumption of precious metals, 1909
Product of gold and silver i n t h e United States in 1909
World's coinage, b y calendar years, since 1873
Foreign coins melted b y certain countries
United States coins imported and melted b y various countries
'.
Recoinages of t h e world
Value of foreign c o i n s . . .
Monetary legislation
:
Monetary statistics of foreign countries
280
280
280
280
281
281
282
282
283
285
286
287
288
288
289
289
290
290
292
292
. 292
295
295
295
296
297
298
298
299
301
302
Tables accompanying the report ofthe Director of the Mint.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
No.
1.—Domestic production, deposits and purchases of gold, by weight
2.—Domestic production, deposits and purchases of gold, b y value
3.—^^Domestic production, deposits and purchases of silver, by weight
4.—Domestic production, deposits and purchases of silver, by value
5.—Bars manufactured, b y weight
6.—Bars manufactured, b y value
7.—Coinage, fiscal year 1910
8.—Uncurrent domestic coins, b y denominations and face values, received
from the Treasury and purchased over the counter
9.—Assets and liabilities, fiscal year 1910
10.—Earnings and expenditures, fiscal year 1910
15.—Summary of imports and exports
16.—Transit and transshipment of gold and silver
17.—Seigniorage on silver, fiscal year 1910
18.—Average price of an ounce of gold in London and equivalent value in
United States since 1870
:
19.—Bullion value of the silver dollar at t h e annual average price of silver
from 1 8 3 7 . . . . :
,
...--.
20.—Production of gold and silver i n t h e United States since 1792, b y years .*
21.—Product of gold and silver i n the world since 1860
22.—Coinage of nations, 1907, 1908, and 1909
23.—World's production of gold and silver, 1907, 1908, and 1909
24.—Production of gold and silver i n t h e world since 1493, fine ounces and
values
-.
25.—Monetary systems and approximate stocks of money
26.—Authority for coining, changes i n weight a n d fineness, and amount
coined of each c o i n . . . . . :
^
27.—Coinage of the United States, from organization of Mint
R E P O R T OF T H E COMPTROLLER OF T H E CURRENCY
Condition of National Banks
:
•--United States and Other Bonds Owned b y National Banks
:
304
306
308
310
310
312
312
314
316
318
320
320
321
322
322
323
324
325
326
329
330
332
334
347-418
--
347
350
X
CONTENTS.
R E P O R T OF T H E COMPTROLLER OF THE CURRENCY—Continued.
«
Page.
Liabilities of National Banks
Reserve and Deposits
Violations of the Provisions of the National Bank Act
Authorized and Paid in Capital, and Classification of National Banks by
Capital
-National Bank Notes in Circulation
National Bank Circulation Issued, Redeemed, and Outstanding
•
Redemption of Circulation
^
Profit on National Bank Circulation
United States Bonds
Earnings and Dividends of National Banks.
Expenses of National Banks
Organization of National Banks
•
Extension of Charters
Changes i n Titles of National Banks
Voluntary Liquidations
Rates for Money.
Clearing House Transactions
United States Postal Savings Law
National Currency Associations
Banks and Banking in the United States....'.
State, Savings, Private Banks, and Loan and Trust Companies
State Banks.
Savings Banks of the United States
Mutual Savings Banks
Stock Savings Banks
All Savings Banks
Private Banks
.'
Loan and Trust Companies
Banks and Banking in the District of Columbia
State and Private Bank Failures
Individual Deposits in all B a n k s . . . ' .
Classification of Individual Deposits
Classification of Loans and Discounts
Investments in Bonds, Securities, etc
Interest Rates
Money in Banks
Growth of Banking in the United States.
Banking Power of the United States
Banks and Banking in the Island Possessions
Philippines
:
Hawaii
Porto Rico.
Building and Loan Associations
Building and Loan Associations of the District of Columbia
School Savings Banks.
Foreign Banks of Issue
Savings Banks in Foreign Countries
Postal Savings Banks
Insolvent National Banks
R E P O R T OF THE R E G I S T E R OF T S E T R E A S U R Y
357
358
359
360
361
361
363
363
364
368
369
370
373
374
375
376
383
385
389
389
389
390
391
395
395
396
396
398
400
400
401
403
403
404
409
409
409
410
410
411
412
412
413
413
413
418
423-451
Division of Loans
,
Summary of bonds deposited by t h e national banks of* the various States,
etc
Summary of bonds held by associations, corporations, institutions, e t c . . . .
Summary showing consolidation of bonds b y classes
New bonds received
Bonds issued
Bonds issued and canceled during the last ten years
Bonds canceled
Philippine and city of Manila bonds
Dividends of interest prepared on registered bonds
Interest checks declared during the last 10 years
Interest prepared on registered bonds
Unissued bonds on hand
Loan of t h e city of Manila
352
354
356
423
425
427
428
429
429
430
430
431
431
432
432
434
434
CONTENTS.
XI
REPORT OF T H E R E G I S T E R OF T H E T R E A S U R Y — C o n t i n u e d .
Page.
Loans of the Philippine Islands
Unissued bonds on hand
Spanish indemnity certificates
Summary statement showing disposition of bonds
Packages received and sent
Division of Notes, Coupons, and Currency
Coupon bonds received, counted, entered, etc
.Exchanged, redeemed*, and transferred coupon bonds on file J u n e 30,1910..
Exchanged, redeemed, and transferred coupon bonds recorded a n d destroyed to J u n e 30, 1910
Coupons
Place of payment, number, and amount of coupons received.
Redeemed, detached coupons received
Coupons on file J u n e 30, 1910
Coupons received for registration from fiscal year 1894-5 to 1909-10
Interest checks
Place of payment, number, and amount of coupons received
Interest checks received, from fiscal year 1894-5 to 1909-10
. Redeemed interest checks on file, J u n e 30, 1910. .1
Different classes of notes received and destroyed
,
Gold certificates
Old demand notes, etc., received for count, cancellation, etc., fiscal year
1894-5 to 1909-10, inclusive
Currency.
Issue, redemption, and outstanding of various old issues of the Government.
Various redeemed vouchers received, canceled, and destroyed to June 30,
1910...
Classification, total number, and amount of redeemed vouchers on file,
J u n e 30, 1910
Files
R E P O R T OP THE COMMISSIONER OP INTERNAL R E V E N U E
434
434
435
435
435
435
436
437
437
438
438
441
441
441
442
442
445
445
446
448
448
446
449
451
451
451
453-469
Report submitted, giving receipts, cost of collecting t h e internal revenues,
expenditures, estimated expenses for next fiscal year, salaries, official
force, etc
453
Objects of taxation:
, Distilled spirits, fruit distilleries, fermented liquors, tobacco, Philippine tobacco products, special excise t a x on corporations, oleomargarine, adulterated butter, renovated butter, filled cheese, mixed
flour, and denatured alcohol
:
459,465
Chemistry.
465
Claims
465
Law division
466
Stamps
•
467
Revenue agents and illicit distilling
467
Recommendations:
1. Salaries of collectors of internal revenue to be reclassified and a flxed
scaleof compensation for chief deputies and cashiers determined.. 468
2. Stainps for other than tax-paid spirits, charge to b e made for
468
3. Oleomargarine a t single rate of tax
:
469
4. Authorizing revenue agents and inspectors to administer oaths. . . . 469
5. Outage or wantage, law governing to b e revised
469
6. Substitute officers, present status and employment to b e improved
by legislation
469
ANNUAL REPORT ON THE FINANCES.
TREASURY
DEPARTMENT,
Washington, December 5,1910,
SIR: I have the honor to make the following report:
ESTIMATES.
In submitting herewith the estimates of expenditures for the executive departraents for the year beginning July 1, 1911, 1 wish to call
attention, as I did last year, to the exceeding care on the part of the
heads of departments with which these estimates have been compiled,
under the immediate attention of the President. There could scarcely
be more scrutiny given to the work of the estimates than was given
last year and has been given this year by the President and the members of his Cabinet. And I am sure that they will be received by the
Congress this year as they were last year for what they are—an exhaustive endeavor to reduce the requirements, not only in the gross but in
every detail, to the lowest point consistent with proper administration.
These estimates are, as a matter of course, subject to the revision
of Congress, and it may well be that in their details they can be
im.proved. I do not believe that the gross can be materially reduced.
The total ordinary estimates for 1912—the fiscal year beginning
July 1, 1911—are $630,494,013.12. The estimate for the Panama
Canal is $56,920,847.69, making the grand total $687,414,860.81.
The total appropriations for 1911—that is, for the current year—were
$721,313,900.48. The estimates for next year now submitted are,
therefore, $33,899,039.67 Jess than the appropriations for this year.
The decrease of $21,000,000 in the estimates for rivers and harbors
and the reduction in the Interior Department of $20,000,000, due to
the appropriation last year of that amount for an issue of bonds for
reclamation projects, have been offset in part by an increase of
$19,000,000 in the Panama Canal estimate and $6,299,000 to meet
the requirements of pubhc building legislation. It leaves, therefore,
over $18,000,000 of savings in the executive departments proper, as
compared with the appropriations for the current year.
The ordinary appropriations for 1910 were $693,313,166.40; those
for 1911 were $683,458,900.48. The estimates now submitted for 1912
are $630,494,013.12.
65S72°—FT 1910
1
.
1
2
REPORT ON T H E FINANCES.
In the preceding paragraphs the ordinary estimates for 1912 have
been compared with the appropriations for 1911. Compared with
the original estimates for 1911, submitted to the Congress one year
ago, these estimates are $5,500,000 less, and they are almost
$17,000,000 less than the estimates ultimately reported to the Congress for the year 1911.
The large reduction in the estimated expenditures for 1912 for purposes of administration is to be added to the large reduction of last
year. These figures make two successive years during which not
only the former habitual large annual increase has been completely
arrested but when estimates in largely reduced figures have been submitted to the Congress. There are these two factors to be considered
in measuring the results of the movement of this administration
toward economies. First, there is the saving of the regular annual
increase by putting a complete period to it; and, secondly, the actual
reductions made which take the place of the usual increases.
The estimates of receipts submitted herewith we are obliged to
make without that exact or nearly exact basis with which we estimate expenditures. The revised estimated receipts for the current
year—the year ending July 1,1911—are $6,000,000 more than the figures 1 submitted in December a year ago. This is about $2,000,000
less than the amount of the increased revenues from tobacco due to
the new taxes. The custonis duties are estimated now $25,000,000
less than before, while the internal-revenue receipts are estimated
$28,000,000higher, exclusiveof the corporation tax, which remains as it
was. Three million dollars have been added to the estimated receipts
from miscellaneous revenues. The decline in customs revenues leaves
them still at the very high mark of $320,000,000. The increase
in appropriations over the estimates for the current year will make
the expenditures larger than was estimated. I t is now estimated that
the ordinary surplus will be $15,805,000 instead of $35,931,000. And
the deficit with the Panama Canal disbursements will be $29,595,000
instead of $12,100,000. In preparing for submission to Congress at
its meeting in December an estimate of receipts and expenditures for a
period of a year commencing the July following, we iare obliged to
adopt as a basis our receipts and expenditures of the present incomplete year. Our figures, therefore, can only be approximate. The
appropriations of course have not been made, and can not, therefore,
be used as a basis of calculation until a year later, when a new estimate
is made.
This explanation applies not only to the revised estimates" for the
current year but will throw light upon the uncertainties of the estimated surpluses and deficits submitted for the year beginning next
July. The estimated receipts for the next year are submitted at
$680,000,000, which is practically the same as the revised estimate of
SECRETARY OF T H E TREASURY.
3
receipts for the present year. Deducting our estimated expenditures
from these estimated receipts (and assuming that the estimates will
not in the gross be exceeded b}^ the appropriations), the surplus
of ordinary receipts over ordinary disbursements in 1912 will be
$49,505,986.88. But taking also into account the estimates for the
Panama Canal the deficit for the next year will be $7,414,860.81.
^PANAMA CANAL BONDS.
The continuing deficit created by the Panama Canal expenditures
is bringing us closer to the time when the indebtedness of the canal
to the general fund will have to be paid, at jeast in part, by a sale of
some of the Panama bonds authorized in the amount of $290,569,000
in the act of August 5, 1909. These bonds may be issued at any rate
of interest found necessary up to 3 per cent. They also carry the
privilege of being used as a basis for national-bank circulation. I t
was not observed at the time of their authorization that the existing
law as to the tax on circulation needed to be changed to provide a
higher tax for circulation secured by these bonds in order that they
might not have an advantage over the 2 per cent bonds.
In order to preserve only a parity between the 2 per cent and 3 per
cent bonds, the tax on circulation secured by the 3 per cent bonds
should be I J per cent. If it should be preferred to make the tax in
the case of the new bonds 2 per cent instead of 1J per cent in order to
further insure their going into the hands of investors in case they are
issued at 3 per cent, that might have its advantages. I t would add
an additional check against undue use of the new bonds as a basis
for circulation.
°
If, on the other hand, authority were given to issue $50,000,000 or
$100,000,000 3 per cent bonds without the circulation privilege, we
should be able to gauge experimentally the rate at which the Government could borrow on an investment basis, and we should then be
better able to formulate a financial policy for the future.
A new factor has entered into the matter of the Panama Canal
bonds since the passage of the postal savings bank bill. It is possible that these bonds may find a market through this new bank.
Thirty per cent of its total deposits may be invested in government
bonds, and in addition the depositors may turn their funds into such
bonds. It is, therefore, within the possibilities that none of these
new Panama bonds will ever reach the open market; and it is possible they may never have circulation privileges attached to them,
for it is expressly provided that bonds issued to depositors shall not
have circulation privileges.
While these new facts diminish the importance of the new Panama
bonds to the open market, the correction of the circulation tax
remains very desirable,
4
REPORT ON T H E FINANCES.
BANKING AND CURRENCY.
The reform of the banking and currency system is still in the
future. I t is very regrettable that circumstances have made earlier
consideration of this great and pressing subject impracticable; and
short as the present session of Congress is to be, it would be a great
step forward if this subject could at least arrive at some form of
definiteness and concentration before Congress adjourns. I t is not
like a new matter. I t has received very great and very widespread
consideration for years; and especially during the last two or three
years the economic authorities under the lead of the National Monetary Commission have been greatly occupied with its problems and
factors. No public question has in the last three years received so
riiuch competent study as this has; and it would be quite wrong to feel
there is need of further hesitation in taking action.
The whole financial history of our country is a long series of
troubles and agitations. And now that we have in sight the establishment of a real and permanent banking and currency system t h a t will
be both safe and sane it makes one impatient to see it accomplished.
I t is of the first consequence that this great economic question—
important to all the people of this country, rich and poor alike—
shall escape the deadly consequences of a partisan treatment. I t is,
therefore, to be hoped that it can come into Congress detached from
political or sectional considerations.
As long as we continue under our present system we are liable to
panics; and the vast devastations of panics reach Republicans and
Democrats and all parts of the country alike. Panics are no longer
necessary and no longer respectable. They are avoidable; but not
under our system. Our system can fairly be called a panic-breeding
sj^stem; whereas, every other great national banking and currency
system is panic-preventing. I t is for the Government to say whether
it will have panics in the future or whether it will not. I t is a mere
matter of choice. We can continue to have panics or we can stop
having panics, exactly as we prefer. I t will not cost a penny to prevent them; and it has cost us untold millions and untold suffering
every time we have had one.
.
We have no system of reserves. Our banking system destroys our
reserves. I t concentrates in New York what are pretended to be
reserves and then forces the New York banks to lend and abolish
them. Now, a reserve is necessary to the very idea of banking;
but our system instead of building up a reserve destroys it as fast
as it inclines to accumulate.
,We have no way to increase our currency when it is needed, except
under the Aldrich-Vreeland law, which will soon expire and which is
only intended for emergencies. We have a currency which is forced
SECRETARY OF THE TREASURY.
5
up, whether we need it or not, to a certain measure of our 2 per cent
bonds. But it can not get up any further; and it practically can
not come down.
'
Nor, under our system, can ordinary transactions of business go
forward uninterrupted in a time of stress and strain. And yet the
final test of a banking and currency system is that the ordinary
banking/facilities needed by business shall be provided at all times
and under all circumstances.
NATIONAL CURRENCY ASSOeiATIONS.
During the past summer and autumn I have encouraged the
national banks of the country to avail themselves of the provisions
of the Aldrich-Vreeland bill to form national currency associations,
giving themselves the opportunity without any delay to issue currency in case of need. Many of the banks of the country became
interested in this policy, and now these associations have been formed
in many parts of the country, including Washington, D . C ; Georgia,
at Atlanta; Boston; New York City; Louisiana, at New Orleans;
Philadelphia; Chicago; St. Paul and Minneapolis; Detroit; and St,
Louis. Others are in process of formation.
NATIONAL BANKS.
The administration of our relations with the national banks has
continued to show steady improvement. The Government is getting
more and more of its rightful supervision and control of these banks;
and is distinctly aiding the officials of the better banks and is as distinctly protecting the communities against the vicissitudes of the
others. The body of bank examiners is being gradually overhauled.
The reconstructed force is being educated and trained and the esprit
de corps is becoming excellent. Politics has been practically eliminated from the office of the Comptroller of the Currency. He who
enters that service leaves politics behind.'
The developing and perfecting of these relations between the Government and the national banks can go on without reference to the
impending banking and currency reform by Congress. Whether that
reform should materialize soon or-late does not concern the need of
this better supervision and control. The banks will remain in any
case, and the need of Treasury supervision and control will continue
permanently. If, however, the general reform of our banking and
currency system is not to be immediate some things which would be
appropriate to the laws incorporating that reform ought, it seems to
me, to be provided for at once.
6
REPORT ON T H E FINANCES.
National hanlcs ahroad.
For example, there is a clear need of American banks in foreign
countries where American commerce needs banking facilities. The
American banking system is therefore obliged to develop itself so as
to perform this necessary international function. We are already
doing a large trade with foreign countries, b u t we are to make this
trade much larger, and especially in many countries where we now
have little or no trade. Our trade inust become much more general
in the articles dealt in, ^nd much more general in the markets we
deal in.
Now, there can be no doubt that we shall never be internationally
a full-fledged commercial nation until we have merchant ships of our
own and foreign banks of our own—a free supply of ships of our own
and a free supply of banks of our own. We should have banks at
all ports that are important to our commerce. And, of course, there
is no reason why we should not have them if we wish them. And if
we are to have banks doing a foreign business, what banks are more
entitled to the opportunity, or what banks are better fitted, owing
to governmental supervision and control, to afford real and reliable
facilities to our commerce than the national banks ? Under present
laws they can not engage in this necessary international undertaking because they are not allowed any kind of branches. But
there is no reason that I know of why Congress should not make
the national banks competent to do this foreign business—for the
question of home branch banking is not involved in it at all. There
is no administrative difficulty in the way and there is no principle
of banking or political economy in the way. And as this is an
opportunity that could be and would be availed of immediately and
is needed immediately, and as it is detachable from the question of
general banking reform, I do not see why the Congress should not
pass upon the matter now.
.
The larger scope of national hanlcs.
Other questions of importance to the national banks, and which
might very well be considered independently of general banking
reform, might wait at least a Treasonable time upon the fortunes
of the general issue.
The national banks, compared with state banks, are much restricted. They started restricted. The men who started them did
not mean really a i r they performed in the actual establishment of a
great banking system. They builded better than they knew. We
have in the national banking system a great institution and one
whose usefulness is susceptible of great development. I t carries,
however, the marks of its imperfect inauguration. I t is, in some
SECBETAEY OP THE TREASURY.
7
respects unnecessarily, tied hand and foot. I t can not, as I have
pointed out, do international banking; and it is restricted closely as to
the kind of domestic banking it can do. I t can not, on anything
like an equal footing, do the business the savings banks do, useful
as that function is. I t can not do the business the trust companies
do, though the trust companies can turn from their trust business to
become competitors of the national banks in their own restricted
field of commercial banking. But why a national bank should not
do all kinds of legitimate banking it is hard to say. If trust business
in itself is safe—and it is essentially as safe as a rock—there is no
reason why a national bank should not do that work as well as a
state bank. And if the business of trust companies is of importance
to the nation, then it would certainly be no disadvantage to let it be
conducted under the supervision and control of the Federal Government. And if it is important to the country to develop the savings
bank business and to put it more and more on a footing of absolute
security, then it might be very well to have a part of it at any rate
under the supervision and control of the Federal Government.
RELATIONS OF THE DEPARTMENT WITH BUSINESS COMMUNITIES.
The relations of the Treasury Department with the business communities are still quite artificial, unbusinesslike and burdensome.
Unbusinesslike, I say, because unlike any business done by anybody
else, governmental or private. I beg to call the attention of the
Congress to a few of these matters that clearly ought to be set
right, and which could be set right after the briefest consideration,
for everything involved in them is palpable. Take, for instance,
the payment of revenue to the Government.
Why should an
archaic regulation be permitted to continue that requires these payments to be made in actual currency—and in only particular kinds
of currency at that ? There is no serious practical danger in taking
a certified check. All of the similar business of the country is done
by checks, many not even certified. The certified check is considered
the highest form of payment. The Government probably would not
lose a penny in a thousand years by making this change; and in
making it, the immense convenience of large fractions of the business
public would be conserved—^and the convenience of the Government
almost equally. We are abeady doing things in the subtreasury
cities—and in other cities—to avoid some of this hardship. For some
time now the Treasury Department has allowed banks in New York
to deposit every day certain actual money at the subtreasury, and
the collector of customs takes orders drawn by the cashiers of those
banks up to the amount of the deposit, on the theory that as the
money is on deposit at the subtreasury it is actuaUy paid, in accordance with the law, to the collector. And I have recently extended
8
REPORT ON THE FINANCES.
that privilege to all subtreasury cities. But in addition to such accommodation of the practical difficulties of customs payments it has
long been true that internal revenues have, in some cases from actual
necessity, been paid in checks at the risk of the collectors. That should
be all wiped out, and certified checks of national banks should be universally received under such restrictions devised by this department
as will completely safeguard the Government from all danger of loss.
GOLD CERTIFICATES FOR BULLION AND FOREIGN COIN.
At the last session of Congress I recommended that gold certificates
be issued against foreign coin and bullion, but no favorable action
was taken. As the law now stands gold certificates may be issued
onl}^ against United States coin. The proposal that the Treasuiy be
authorized to hold gold bullion and foreign gold coin as securit}'^ for
gold certificates offers several advantages. I t would add to the facilities of our great financial centers as free markets for gold by furnishing a better opportunity for bankers and dealers in exchange to secure
or dispose of gold bars and foreign gold coin than has existed heretofore. In the leading financial centers of Europe the large financial
institutions, such as the Bank of England, the Bankof France, and the
Reichsbank, count as part of their reserves, along with the domestic
coins, foreign gold coin and also gold bullion, and the change contemplated by this proposal is intended to bring our arrangements in these
matters into line with the policies of other countries. The main
advantage of the proposal, however, is in the reduction of unnecessary
coinage operations in our mints.
During the last twenty years there hasbeen imported into this country $374,000,000 in foreign gold coin, and of thisamount $310,000,000
was deposited at the mints for recoinage. In the meantime $766,000,000
of the United States gold coin has been exported. The $310,000,000
of foreign gold coin Avas recoined at our mints at the expense of our
Government, while more than double that amount of our own money
was exported during the same period. The coinage of $310,000,000
of foreign gold coin into American coin must have cost at least
$800,000, or $40,000 per year.
We have now some $940,000,000 in gold coin stored away in the
various subtreasuries and mints, the greater part of which is a reserve
against gold certificates that in all likelihood will never be presented
for redemption in coin. In the majority of cases where gold certificates are presented in large quantities for redemption it is for the
purpose of securing gold bars, yet we continue to coin each year nearly
$100,000,000 in gold at an annual cost of somewhere between $200,000
and $300,000. If gold certificates might be issued against this gold
bullion the major part of this cost could be saved without in any way
impairing the redeemability of the certificates, and at the same time
SECRETARY OF THE TREASURY.
9
bankers and exchange dealers would be in a position to secure bars,
which they prefer for purposes of export, with greater promptness
and less expense. In view of the fact that America produces nearly
$100,000,0()0 in gold per year and that the inevitable drift of gold
must be from America, it is peculiarly reasonable that a considerable
part of the gold which we produce should not be transformed at once
into coin.
The plan contemplated offers abundant safeguards against the
excessive reduction of the deposits of United States gold coin held
against the certificates, in requiring that the amount of gold bullion
so held shall not at any time exceed one-third of the total amount
of gold certificates at such time outstanding and in^providing that the
receipt of gold bullion and foreign gold coin shall always remain at
the discretion of the Secretar}^ of the Treasury.
POSTAL SAVINGS SYSTEM.
The preliminaries in the case of the postal savings system will very
soon have been sufficiently considered aiid adopted to permit the system to be put into actual operation. The economic effects of this
new bank upon the operations of the Treasury and upon the general
financies of the nation will be observed with great interest.
SINKING FUND.
I beg to call the attention of the Congress to the matter of the
sinking fund. The. sinking-fund law has fallen into neglect. I t
should be revised to a point where it can be obeyed. I t is impossible
to carry out the law as it is, for the Treasury Department has not at
present any funds with which to pay off its debt. Presumably,
I should set aside 1 per cent of the debt; and Congress has made a
permanent appropriation for this purpose, but it does not furnish
the money with which to carry it out; and the sinking-fund law has
been not exactly a dead letter but a dead-and-alive letter for nearly
forty years. I t is not pleasant to continue this present situation,
and it is not necessary in the least that it should be continued. Very
little legislation would make the matter right; and I commend to
Congress the suggestion that it make the sinking-fund law conform
with the actual facts of the Government's finances.
CUSTOMS SERVICE.
The improvement in the customs service has continued to receive
a large amount of attention. The sugar frauds were found to be
much further extended than was at first supposed. They were found
to cover in one form or another nearly all of the sugars coming into the
port of New York. The total recovery of unpaid duties mounted up
10
REPORT ON THE FINANCES.
during the year from $2,100,000, noted in my last annual report, to more
than $3,400,000. These recoveries were on account of false weights.
Investigations have been made and are being made as to sugar
importations at other ports, and this branch of the customs frauds has
now been practically fathomed. Investigation of sampling, tares and
polariscopic testing, as processes in the assessment of sugar duties,
may produce further recoveries and are certain to lead to improved
methods and increased revenues in the future, while the fraudulent
abuse of drawbacks in exported products of sugar refineries will
unquestionably be shown to have been practiced on a very large scale.
The existence of such extraordinary frauds at the port of New York,
involving corporations of the largest and most responsible kind and
spreading over a considerable series of years, has been such a revelation as to throw doubts and suspicions over the entire customs field
and to oblige us to investigate and overhaul in all directions. Following the developments in the sugar frauds came the discovery of
the large, constant frauds in the importations from many of the Mediterranean ports. The sugar cases and these Mediterranean cases
reported to the Department of Justice led to many important prosecutions with great success; and there has been complete cooperation
between the two departments throughout.
Passengers^ haggage.
I t became necessary from the outset to correct the palpable vices
of the system controlhng importations by steamship passengers.
Unless the importations by passengers could be made honest, and
unless the customs service could be made to prevent this conspicuous class of smuggling, it would be hopeless to attempt to set
the rest of the business of the port upon a proper plane. If the
Government should show indifference to a notorious instance like
this and to the notorious demorahzation of its service here where
everyone saw it, it would be idle to go further. I t was not simply
that actual tourists were violating the law, but the irregularities of
the service on the passenger docks and the example set by those
tourists had made the Atlantic steamships open runways for professional smugghng. This whole situation had become demoralized
and was deteriorating the entire customs service in New York and
more or less everywhere else. Genuine passengers and professional
smugglers under the guise of genuine passengers were not only smuggling by means of false declarations, but they were bribing the officers.
The situation was as bad, both morally and as a business proposition,
as it could possibly be. Cheating the Government, making false
statements and bribing officials was regarded as a joke. Meanwhile,
the notoriety of this corruption and its association with people holding
SECRETARY OF THE TREASURY.
11
good positions in the community, did as much as any cause to produce the widespread dishonesty in dealing with the Government and
the widespread corruption of the men upon whom the Government
had to rely. So entirely oblivious were large numbers of our tourists
to the moral considerations involved in these crimes that the attempt
of the Government to reform the service and make it honorable and
useful met with criticism and resentment exactly as if the Government
and not the smugglers were committing the crimes. Of all the persons found out in smuggling or undervaluing, tourists are the only ones
who have sought to excuse themselves. The inevitable, however, is
coming to pass. American travelers are more and more realizing the
indefensibleness of smuggling—its rank dishonesty and its extremely
bad example and influence—and they are conforming in increasing
numbers both to the law and to their obligations as citizens.
Great improvements have been made in this branch of the service;
and the least of the advantages of the better administration is that we
are annually collecting from passengers at the port of New York alone
about four times as much duties as before. The percentage of increase
is equal-j large at the port of Boston. Previously these collections were $470,000 for the 3^ear and are now running at the rate of
$1,800,000 per year. A much larger advantage of this better administration is in the restraint that has been placed upon professional
and nonprofessional smuggling through passengers' baggage, including
the brealdng up of the sleeper-trunk frauds. And greater than all
other of these advantages is the increased morale throughout the
service due to the introduction of improved methods, standards
and organization in this influential and conspicuous branch of it.
The personnel, standards and methods not only of the inspectors?
service but equally those of the weighers and gangers' service, where
so much fraud had centered, have been greatly improved. And
generally important advances have been made in the rehabilitation of
the entire service in the offices of the collectors and surveyors of the
port. Advances have been made, too, in the appraising departmenc^,
especially in the work on the passenger docks. But much remoins
to be done in this extremely important branch of the work. Various,
I may even say numerous, import lines have been and are under
investigation; and the amount of laxity and dishonesty that has
crept into the import business through undervaluations is astonishing, not to say appalling; and is keeping the department greatly occupied and is requiring much assistance from the Department of Justice.
The results and the outlook are nevertheless encouraging; and there
is every prospect not only of clearing up and punishing the smuggling and undervaluation but of completing such a rehabilitation of
the customs service, both in New York and throughout the country.
12
REPORT ON T H E FINANCES.
as will reestablish the honorable and efficient character of the service
itself and increase the very large sums—the many millions of dollars-^which are already coming into the Treasury from improved
operation.
Appropriations for rewards.
We are being greatly aided by success and by the increasing public
impression that the Government is in earnest and means to complete its work. Persons are more and more disposed to offer help in
the discovery of frauds; and in this connection I should like to call
the attention of Congress to the handicap of the very small appropriation of $25,000 for the payment of those within or without the
department who render voluntary assistance. I should very much
like to have this appropriation increased to at least $100,000. And
it would be of great assistance if the Secretary of the Treasury were
permitted a larger discretion than the law at present allows vdth
respect to payments to persons furnishing information from outside
the department.
Politics reduced.
The progress made in the rehabilitation of the customs service at
New York has been marked by a very decided elimination of the
political and spoils influences to which I attributed, m my last
report, much of the demoralization that was found there. I t would
not be true by any means to say that these injurious influences have
been entirely removed, but the situation has been greatly improved.
The seriousness of the case has been recognized on all hands; and
the chief political authorities have recognized the impossibility of
putting this service where it belongs without the elimination of
political influences from its management and operation. This
decided progress at the port of New York has influenced, more or
less, the customs service at large—leading to the impression that the
standards being established there would sooner or later have to prevail
at all the other ports. There has been this quite general recognition
of a new epoch; and it has resulted in a closer and more exclusive
interest on the part of the customs ofl&cials in the administration of
their ofl&ces and a diminished interest in practicaLpolitics.
THE CLASSIFIED SERVICE.
Anyone, however, who comes close to the practical administration
of the Federal Government—or of any other government—soon
becomes aware that everything ultimate or final in the excellence
of administration must wait upon the complete inclusion of all
nonpolitical ofiices within the classified service, and that progress
in the administration meanwhile will materially depend upon the
broadening of that service. The frequent presidential extensions
SECRETARY OF THE TREASURY. .
13
of the classified service to include more and more of the positions
within the control of the Executive—including the; important extensions by President Taft—have practically exhausted the exclusive
opportunities of the President, and enlargement will hereafter be. a
matter for the cooperation of Congress with the President. But there
is no reason why the purely administrative offices which require
confirmation should be differentiated in respect to the classified
service from like offices that do not require confirmation.
The
Auditors of the Treasury Department, for example, as I said in my
last report, ought on every account to be included in the classified
service.
Deputy auditorships do not need to be classifie4. They ought to
be abolished. They are unnecessary and a mere fifth wheel. The
department does not include them this year in its estimates. Of
course, it is the right of Congress to make these ajppropriations if it
sees fit, and to continue these positions. But the money would be
wasted.
|
And among the presidential offices which should be put first and at
once inthe classified service are those of assistant appraisers inthe customs service. And until these assistant appraisers are so included and
taken out of politics, it will be necessary to the introduction of absolutely necessar}^ reforms in the appraising service to detach, by administrative act, every assistant appraiser from all touch and association
with practical politics. Some authorities highly experienced in the
work of appraising as now carried on are of thei opinion that the
assistant appraisers should be abolished—pulled up! root and branch.
These people are hopeless of any good coming out of them. I do not
agree with this, however. I think the assistant appraisers are a very"
necessary part of the organization and that the remedy is to make
them what they should be. And while they can be and will be
temporarily made what they should be by administrative act there
will be no permanent reform, where they are concerned, until Congress arranges to put them in the classified service. <
IMPROVED CLASSIFIED SYSTEM, j
I t is not alone necessary, however, to include these purely administrative officials in the classified service; but thei workings of the
classified service system itself should be restudied arid advanced, both
as to the way in which people enter the service and as to the way in
which they are promoted or demoted and generally managed after
they are in. The system has been so honestly admiijiistered, and with
such faithful and loyal intention, that it has met with general acceptance and favor. I t can, however, be advanced; and the classified
service can, in my judgment, be made still more useful.
14
REPORT ON T H E FINANCES.
CIVIL-SERVICE RETIREMENT.
I now beg to refer, as I did last year, to another requisite—another
absolute requisite—of a satisfactory service. There is no practical
way to put the government service properly on its feet without af air and
just method of civil-service retirement. This is not only a requisite;
it is a prerequisite; and unless Congress shall give the Executive this
necessary method of improving the service the country must accept
a service that is not fully satisfactory and which can not be made
fully satisfactory
Fortunately this retiring provision can be made—and this is
mathematically demonstrable—without the expense of one dollar to
the Government. The contributory system of retiring allowances is
not only the only system that has any chance whatever of being
adopted but it fortunately is the best system by far for the men and
women of the service; and it is, therefore, the part of wisdom for all
the friends of this movement to concentrate upon this method. Of
course, there must be paid by the Government the retiring allowances
until the contributions by the members of the service have become
sufficient to take care of the payments; but these preliminary payments by the Government need not cost the Government anything
whatever. All of the executive departments which have so far been .
consulted stand ready to carry out such a law without asking any
addition whatever to their ordinary appropriations. The objection,
therefore, that we might be introducing another pension roll, has no
justification. I t had complete justification as long as the straight
pension was in contemplation. The contributory allowance, however, is an entirely different matter and eliminates this objection
altogether. The Government, therefore, can without any expense
to itself, and by the mere passing of a law, set this whole matter right.
I t is only necessary to mention two things about the contributory
plan, as contrasted with the pension plan, to make clear its advantages to the people in the service. I t could never be taken as an answer to a claim for increased pay. I t is a contribution of their own
and not a contribution of the Government, and it is in no sense an
estoppel of any argument in favor of increased pay at any time during
its operation. On the other hand, a straight pension paid by the
Government would always be taken as an additional salary and would
perpetually have a tendency to estop any argument for increased
compensation. The other consideration is that under a pension system a man must not only five beyond the retiring age but he must
continue always in the service until that period in order to receive
any pension at all; whereas, under the contributory system, under
all the accidents of life, he gets what belongs to him of the savings of
the system. I t is impossible not to regard a straight pension as a
SECRETARY OF THE TREASURY.
15
part of the salary and if a man loses it altogether, owing to the accidents of life, he loses a part of his aggregate salary.
The Treasury Department is engaged in the work of increasing its
efficiency and diminishing the relative expense of operation. I t has
made considerable progress but has not nearly reached the end.
At least four hundred positions have been abolished. So far we
have been able to take care of all of the displaced employees, except
in the case of the mint at Philadelphia and in qther offices outside
of Washington and New York, where, in the iiature of the case,
there were no [opportunities for transfer. We have succeeded in
transferring those who were displaced to places becoming vacant in
the normal way; such vacancies having been allqwed to accumulate
by temporary appointments. Whether it will be possible to continue to take care in this way of the employees whose positions we
are abolishing I do not know. But this is clear, that any successful
effort to improve the administrative operations of ja large department
like the Treasury is immediately handicapped and might well be
discouraged entirely by the absence of a just method of retirement.
And even when it is possible to protect these disjplaced clerks from
being thrown into the streets it is done, in many! cases, in denial of
the right of an office to efficient help. Working in these improvements brings constantly to mind the hopelessness lof ever arriving at
a complete state of efficiency without a way of retiring clerks in a
just and humane manner. I have no doubt that this very discouraging feature has in the past stood in the way jof many attempts
to improve the efficiency and economize the expense of operation in
the departments.
;
LIFE-SAVING SERVICE.
|
The opposition to the creation of a civil pension system generallv is
alone responsible for the refusal to yield to tbe widespread sentiment
in favor of providing a retirement feature for thej field force of the
Life-Saving Service. We hesitate to supply an entering wedge. The
specially hazardous nature of their undertaking entitles those men of
the life-saving corps who perform meritorious service to an acknowledgment by the Government of an obligation that is not less binding,
and ought not to be less generous, than that admi<:ted to the Army
and the NaA^y.
j
Convinced of the physical deterioration in the corps in consequence
of the difficulty in attracting new material, and of the refusal of
humane superior officers to discard men whose heroic achievements
are the inspiration of their fellows, I sent an argument on the subject to the appropriate committees of Congress, on May 5, 1910, concluding with a plea for legislation in the interest of the men of this
16
REPORT ON T H E FINANCES.
service which would relieve them of the ever-present disheartening
apprehension of ending their days in want. I now renew that appeal
and quote from my letter the following paragraph:
Living in isolation, exposed to the severest storms, meeting by annual tests the
inflexible demands'of the department as to physical fitness, accepting a compulsory
leave of absence from two to four months in every yesir without pay, doing deeds of
daring always at the expense of comfort and very frequently of health or life, submitting to an immensely narrower sphere than their fellows, in these regards—in
renunciation, in courage, in constancy—these men render service that is unapproachable, and they are neglected to a degree unsuspected by our people.
EFFICIENCY AND ECONOMY.
Among the changes in the Treasury Department in Washington is
the elimination of the issue division of the Treasurer's office.
The double printing of the Government notes, first in the Bureau
of Engraving and Printing and again in the Treasury building,
has in this way been stopped. Unnecessary countings of these
notes have been in consequence cut out. Numerous and expensive counts of the distinctive note paper and the nondistinctive
paper used for stamps have been done away with; and all this paper
has been removed from the Treasury building to the Bureau of
Engraving and Printing where it is used; and the amount of the stock
has been reduced to the needs of manufacturing. A businesslike
handling of all this paper has been established; and the printing,
under the greatly improved methods suggested and carried out by
the Director of the Bureau, is a large part o f t h e completed improvement. We have established the cancellation at all of the subtreasuries
of the notes sent from them to Washington for redemption; and they
are now sent by registered mail as merchandise vdthout value instead
of being sent by express as money.
The office of the Auditor for the Post-Office Department has been
greatly simplified and rendered greatly more efficient, at a largely
reduced cost, by the active and efficient initiative and cooperation
of the auditor. I t is the intention to thoroughly investigate and
similarly improve the other auditors' offices. These investigations
are under way. Everything in an auditor's office, however, and in
every otlier great government office, depends largely upon its chief.
And unless the Auditors of the Treasury Department, pending their
inclusion in the classified service, can be appointed on the ground of
their fitness and without making political considerations primary,
the auditing will continue to be very costly to the Government. If
by getting the right man as auditor you can both have the work done
with the promptness and effectiveness that helps many of the other
operations of the Government and can save, say, $100,000 a year, it
is easy to see what an expensive thing it is every time you put the
17
SECRETARY OF THE TREASURY
wrong man in this right place. The inquiries so| far made into the
auditing offices have led our committee of Treasiury experts to surmise, and to practically conclude, that to makje the Government
auditing all it should be, and to bring it all under one system, all
the offices should be under the general management of one auditorin-chief. But I shall be able to make recomme;ndations when our
inquiries are completed, generally considering the Whole auditing system; and to include in these, I hope, suggestions for the close incorporation of all naval offices with this system. ;
Alterations in the Treasury huilding.
The alterations in the Treasury building authorized by Congress,
which are now being carried out, will greatly aid the modernizing of
our methods. We have already converted the top| story from a dangerous fire risk and a largely useless and unsightly space into conditions of attractive and important occupation. Available space
has been further increased by constructing and rectostructing spaces
under the ground on three sides of the building for storage and for
files. The eastern steps, which have been such i a defect to that
otherwise wonderful front, have been replaced by! a street-level entrance for those working in the department. A new system of
elevators is being installed at that point for proper convenience.
Many adjustments are being introduced to enable the rearrangement
and association of related offices for greater efficiency and greater
protection. This rearrangement will become general throughout the
building on approved principles of office organization. And a competent project of protection for the Treasury building will be carried
in various ways to a completion that, strange to Say, has not even
been attempted before.
\
Ghief cleric and dishursing cleric. ;
The reorganization of the chief clerk's office arid its recall from
duties that were not chief clerk's duties and which prevented the
Treasury Department having a chief clerk at all, though it is almost
the most necessary office in any department, are adding greatly to
the facilities of the department and increasing its Economies.
The consolidation of the disbursing offices is another change making for efficiency and economy.
;
Investigations hy special committees \
Formal investigations by selected small committees of Treasury
experts under the direction of a general committee are carrying
further the investigations we have been making throughout all the
Washington offices; and we are beginning similar investigations
65872°—FI 1910
2
i
18
REPORT ON T H E FINANCES.
outside of Washington. The outside expert accountants who have
given so much valuable aid to the department have completed their
work for the present.
We are making special examinations of various ports by specially
selected committees from the special agents service. The customary examination of the ports by the special agents force had generally
lapsed, and in resuming these examinations they have been made
much more elaborate.
Special agents.
The special agents force itself is one of the most important in the
Government. I t is of especial importance to the Secretary of the
Treasury, as it constitutes his opportunity to keep independently
informed with regard to the operations of the customs service. I
regret to say that this service, composed of special agents and customs
agents, has not been of late years, and is not nov/, at a high state of
efficiency; and notwithstanding considerable improvement during
the last year, it stands in need of radical rehabilitation and of much
development. There has recently been appointed to the head of this
service the chief of the secret service who is now chief of both the
special agents service and of the secret service with experienced assistants in each. These two services are not connected, of course; and
the fact that one man is chief of both will, I think, produce favorable
results
The special agents service is not a detective service, but
there is constant need of secret-service work in the customs department, as the notorious fraud developments have „ made clear. The
Congress at the last session gave me permission to use three secretservice men in any part of the Treasury Department. I hope it will
now go a step further and enable the Secretary of the Treasury to
use any of the secret-service men within the limits of the Treasury
Department. I t is only necessary to realize the amount of smuggling
and undervaluation in the customs service to see that the Treasury
Department is in absolute need of every agency it has within its
own department, to say the least. And as no harm can come from
affording these facilities to the Secretary in whose department the
secret service belongs, and as such great necessity exists for the use
of this service by the Secretary of the Treasury outside of counterfeiting, I sincerely hope Congress will not refuse the privilege of using
it wherever within the Treasury Department it may be req'uired.
I also request that the limitation upon the number of special agents
of the Treasury Department who can be stationed in Washington may
be raised in order that in the reorganization of that force provision
may be made for a standing committee of expert examiners fojmed
out of the force itself, and to give greater pliability and adaptability
to the service.
SECRETARY OF THE TREASURY;
19
Extent of possible economies. \
The popular impression as to the extent of possible economies in
the administration of the executive departments is singularly exaggerated, and this misconception is very harmful.! When the public
expects that the Government can save $300,000,000 a year, such
small, laborious savings as can be made in the executive departments
hardly seem worth while. And it is astonishing that under such circumstances interest in these comparatively small savings can be
maintained. These savings can only be disappointing to the pubhc
who have such figures as $300,000,000 in mind;i and they can not
receive any popular credit, for they can only seem to be small triffings
with great things. .And yet they can only be produced by laborious,
painstaking, and persistent methods and devotioni
When it is the fact that the entire ordinary expenditures of the
Government last year were less than $660,000,000^ and when a great
part of those expenditures is not reducible at all, as, for example,
the interest on the debt, and the pensions, one can readily see that
there probably is not very much more than $300|000,000 gross left
on which to save $300,000,000. Now, to effect a saving of $300,^
000,000 when the whole expenditure amenable ito any saving is
$300,000,000'is, of course, not easy. I appeal t o ' t h e sense of proportion of Congress and the American people; for it Us very important
to have these impressions corrected in order that there may be some
encouragement given to those men scattered through the departments who want to bring about all the improvement possible.
Superfluous custom-houses, mints and assay offices.
There can be very important savings undoubtedly. When you
can save on a particular thing, or in a combination df things, $100,000
a year, that is very well worth doing even if it is not a million or
ten millions or a hundred millions; and there are plenty of ways of
saving very considerable sums. One additional v/ay in the Treasury
Department would be by the elimination of a largp number of customs ports that are of no. use under the sun; and of some of the assay
offices and mints that perform no service whatever.! I shall submit
to the committees of Congress a list of customsjhouses that the
Treasury Department would be much better off without.
The mint and assay service has been considerably relieved during the
last year and a half, and very considerable savings have been effected.
The Treasury Department is still, however, encumbered by an oversupply of these offices. Most of the assay offices are; superfluous and
even the three supposedly active mints at Philadelphia, Denver, and
San Francisco can not be kept fully employed. Th^ expense of the
mint at New Orleans has been greatly cut dovm, and what is left of it
is not justified.
20
REPORT ON THE FINANCES.
Public buildings.
Savings in the matter of public buildings are beyond the control
of the Treasury Department, except in so far as it can reduce the
cost of operating the Supervising Architect's office—a subject
which has been engaging the department's attention. The Supervising Architect's office, however, looks like a small matter in comparison with the amounts expended on public buildings. I am by
no means opposed to a liberal pubhc building policy. I think it is
quite right for the Government to occupy its ovm buildings whereever the need of an entire building exists—if they are of good enough
architecture to build. And it is my hope to see during this administration another distinct advance in the artistic character of all the
buildings, small and large, that the Government erects. The Government has the opportunity, and it has the duty, of aiding the
architectural standards throughout the country. The artistic influence of a government building of high-class architecture is a great
asset and should be conserved. This does not mean that all public
buildings should be expensive. I t certainly does not mean that a
beautiful building is any more expensive than an ugly building. I t
is the lines and proportions of a building—it is. the knowledge that
goes into its design—that makes for beauty and art. I t is not the
money. But while I take this interest in public building, I think
these buildings should not be authorized except from consideration
for the Government's needs. They ought not to be put up merely
to gratify a community. I do not mean that the wishes of the people
of a locality should not be consulted and I do not mean that they
should not be pleased as far as it is possible to please them consistently with the Government's interest and the interest of good architecture. I do maintain, however, that the authorization of a public
building should be made from the point of view of the Government
and not from the point of view of a locality.
CENTRAL POWER PLANT.
The Congress has authorized the erection of four buildings along
the eastern boundary line of the White Lot for the Departments of
State, Justice, and Commerce and Labor, and the Bureau of Engraving and Printing. The aggregate limit of cost is $10,000,000.
The plans and specifications of the Bureau building are in the
hands of professional estimators and will be released to competing
contractors immediately; an architectural competition is being conducted in the case of the proposed homes for the three departnients.
Hence these four important building projects have been launched and
the problem of supplying heat and power and light is pressing for
solution.
SECRETARY OF THE TREASURY.
21
I recommend to the Congress the establishment of a central
power station at a point convenient to the ^present Bureau of
Engraving and Printing, The practicability and economy of such
a course have been determined. I am of the opinion that it is feasible and desirable, in making provision to serve the four projected
buildings, to extend the service to such existing government buildings as may be supplied economically within the operating zone of
the proposed power plant. I t is estimated that the segregated
heating and power plants in the dozen buildings of the executive
group, adjacent to the White Lot and Mall, contain 85 boilers. .These
consume about 35,000 tons of coal annually and require the attention
of 190 employees. The aggregate rating of the engines and other
mechanisms is 3,500 horsepower. With the four new buildings in
commission, it' is probable that the equipment will increase 25 or 30
per cent.
I t is possible by the concentration of the units of expense in a highly
efficient plant, operated under competent direction, to secure unification of design and effect a material saving. At present there are
heterogeneous requirements and installations, a heavy annual cost
attending purchased lighting service, scattered locations of boilers
throughout the independent buildings, resulting in the absence of
continuous competent supervision, the transportation of fuel by
stevedores, whereas it should be automatically delivered from cars to
storage bins, the expense incident to the removal of ashes, and the
occupancy by machinery and fuel of 600,000 cubic feet of valuable
space in the department buildings. If ihe existing department buildings could enjoy practical freedom from smoke, noise and heat, and
if the space now occupied by the machinery and fuel could be
assigned to offices or converted into receptacles for archives, some
rented buildings in the District of Columbia could be surrendered.
I am of the opinion that the Congress could, with advantage, at once
empower a department or a commission to design for the four department buildings a central power plant capable of indefinite progressive
construction, and report to Congress an estimate of the amount
required to extend the service to the existing buildings of the
executive group.
MINOR INCREASES.
I n considering efficiency and economy it must not be overlooked
that these are not represented exclusively by reduction in appropriations. Economy and efficiency do not mean that in every case
where there is a change the change shall be a reduction. There are
undoubtedly many instances where the interests of the Government
and the interests of efficiency in government require increases. I t is
true, in my judgment, t h a t a large number of the salaries of the
22
REPORT ON T H E FINANCES.
people of such importance in the department that the effective work
of the department must largely depend upon them should be raised.
It is of extreme importance to the Government that it should constantly improve the individual rank and importance qf the members
of the permanent executive staff. The permanent staff of the Treasury Department deserves and needs men of high qualities and abilities, and to secure these men and retain them the salaries must be
in some manner related to the qualities demanded. I feel the great
importance of this consideration; and in the very midst and in the
thickest atmosphere of the movement for reductions and economies,
I feel that the interests of the Government are deeply involved in the
question of a wise discrimination with respect to the salaries of these
chief men.
THE BUDGET IDEA.
There was a promise in the air a year ago, to which I made reference in my annual report, of an organized coordination of appropriation bills among themselves, and of revenue estimates and other
estimates with appropriation bills, and of an organized cooperation
between the executive and the legislative departments, with a view
to securing as far as possible the advantages other governments
enjoy by reason of the budget system. I regret to say that the
movement has not as yet gone far.
The expectation, therefore, that we were making progress toward
such correlation of the separate appropriation bills as would make
the appropriations of Congress practically one bill, has not yet been
justified. Each executive department has held down or reduced its
estimates under the direction or inspiration of the President, and
phenomenal results on this line have been achieved. There has been,
however, no permanent system of new control or new study of the
relations of outgo and income established. That seemingly is impossible without full and established cooperation between the legislative
and executive departments: As long as the system remains as it is,
with the responsibilities for estimates and appropriations divided into
as many atoms as there are executive departments and independent
establishments and appropriating committees of Congress, there can
be no permanent reform. The question of the^ expenditures of a
great government like ours is altogether too large and too complex
to be scientifically handled by anything but a thoroughly organized
responsibility which shall represent both the legislative and executive
departments. It would seem that there must be formed some kind
of a budget board, or budget committee, representative of the two
departments of government, which shall make the necessary studies
and recommendations.
SECBETARY OF THE TBEASUR?.
23
THE OLEOMARGARINE LAW,
There is a source of revenue awaiting the adoption of Congress
and amounting to probably $2,000,000 a year, which would be a mere
incident to the correction of a serious moral and economic condition,
brought about by the failure of the present oleomargarine law. That
law imposes a tax of 10 cents a pound on oleomargarine artificially
colored, and one-quarter of 1 cent a pound on oleomargarine not artificially colored. The primary object of the law was to protect butter from the competition of an article that would resemble butter and
be sold for it, and not for what it was. The extraordinary tax of 10
cents a pound was meant to equalize the difference between the cost
of oleomargarine and the cost of butter; so as to prevent the sale of
colored oleomargarine. It was taken for granted that, under this
law, all the oleomargarine would be produced without color and
could not be sold for butter.
The result as a revenue measure has been that the Government, has
not received from the tax much more than it has cost to make an
unsatisfactory attempt to enforce a law that could not be enforced
except here and there. Practically all of the oleomargarine produced
has paid tax as an uncolored product at one-quarter of 1 cent per
pound; and a large portion of this, aJFter being artifically colored by
a very simple and inexpensive process, has been fraudulently sold
as butter. The law has therefore failed completely to protect the
butter makers. It has raised up for them, indeed, a greatly aggravated competition.
The failure of the law to do anything but harm to the butter interests is, however, by no means the worst it has done. Its worst
offense is that it has engendered and encouraged a large and very
widespread and growing fraudulent traffic. It encourages so easy
a fraud, and one so extremely profitable, that the law is a constant invitation to large numbers of people to become dishonest.
The moonshiner needs a plant that costs practically nothing; and t-he
cost of the coloring matter is practically nothing. The labor requirecl
to color the oleomargarine is of the lightest.
It is the size of the temptation, due to the mistaken policy of the
law in making these two taxes, that is significant. If, therefore, in
accordance with the plan that is now so widely accepted, a tax of
2 cents should be placed on oleomargarine, colored or uncolored, with
simple and easy provisions already well understood by which oleomargarine would be sold as oleomargarine and not as butter. Congress
would convert an unprofitable revenue into a profitable one, destroy
a, fraudulent competition for the butter makers, give the willing consumer of oleomargarine a cheap and wholesome food product, and
24
REPORT ON T H E FINANCES.
clean out and disinfect a wide circle of business corruption for which
this law of the Federal Government is directly responsible.
These views have grown from the experience of the Treasury
Department alone, and have not had the consideration of the
Administration.
PUBLIC-HEALTH SERVICE.
Whatever action may be taken by Congress now or hereafter with
regard to the proposal of associating other bureaus of the Government
with the Public Health and Marine-Hospital Service, it is quite clear
that the usefulness of this service along the lines of sanitation and
public health should be continuously developed. This service has
been greatly developed under the encouragement of Congress and
this development should not be interrupted. The service is in a condition to rapidly increase its usefulness and its value to the nation
both on its research side and on the side of its administration. It
should be placed by Congress where it can compete for its personnel
vdth the other institutions of the country which create such an active
competition for the strong men in the professional lines it includes.
It is of great consequence to the nation that this service should continue to be manned as ably as possible. These are considerations
entirely detached from the question of the organization of a department of health, or the bringing together of various bureaus of the
Government. The continuous important development of the present
service would still be as necessary under a new association of bureaus
as it is now; and development now would not in any way concern
these other questions of organization.
REVENUE-GUTTER SCHOOL.
During the past summer the Treasuiy Department acquired possession of Fort Trumbull at New London, Conn., which the War Departm^pnt had recently abandoned. The buildings are being transformed
into a school of instruction for the Revenue-Cutter Service. The
practice ship Itasca and fifty cadets have been transferred to
the new station. This has enabled the department to gratify a
cherished ambition of the service to enlarge and improve its facilities
for instruction and extend its curriculum, and thus tone up its personnel. The long and creditable record of this well-disciplined service is secure in the hands of men of the right spirit, who are justly
proud of the worthy traditions of the service.
SECRETARY OF T H E TREASURY.
25
CONTINGENT FUND.
The contingent fund which I asked foTa year ago as giving sufficient
freedom of action on the part of the Secretary of the Treasury to be
consistent with the importance of his administrative duties, and which
was granted by the Congress, has proved to be very useful to the service; and has enabled me to carry on improvements of importance
that could not have been otherwise undertaken; and which have
already produced savings t h a t will be perpetual, repeating themselves
annually.
BONDING OF OFFICIALS.
There will be proposals made to Congress for the revision of the
bonding of certain financial officials, including the Treasurer and the
assistant treasurers. The heads of these offices are heavily bonded,
while no provision is made for the bonding of their subordinates in
whose hands the money is. This is a subject worthy of the attention
of Congress.
ASSAY OFFICE AT NEW YORK.
The assay office in New York, whose building is being enlarged
and practically rebuilt, is undergoing a general revision arid a general
reorganization of its operation along effective business lines.
TARIFF BOARD.
The Tariff Board is more than justifying the expectations that were
entertained of its usefulness and its ability. We have at last arrived
at the possibility of a scientific treatment of tariff legislation. We
have arrived where the interests of all concerned—those of the manufacturer, those of the merchant, those of the consumer, and those of
the Government—can receive fair, scientific, competent, and nonpartisan consideration on the basis of reliable facts and knowledge.
The trustworthy assistance this board can afford will soon enable
Congress, whenevet it is ready to legislate on the tariff, to proceed
confidently.
26
REPORT ON THE FINANCES.
FINANCES.
I have the honor to now call attention to the following statements
showing receipts, disbursements, estimates, and the condition of the
Treasury:
:
R E C E I P T S AND DISBURSEMENTS.
Fiscal year 1910.
(See details in tables, pp. 31-35.)
The receipts and disbursements of the Government in the fiscal
year ended June 30, 1910, were as follows:
ORDINARY RECEIPTS.
Customs
Internal revenue:
Ordinary
Corporation tax
Sales of public lands
Miscellaneous
$333, 683,445. 03
268,981,738.48
20,951,780.97
6, 355, 797. 49
45,538,953.05
Total
$675,511, 715. 02
ORDINARY
DISBURSEMENTS.
For civil establishment, including foreign intercourse, public buildings, collecting the reve-nues. District of Columbia, grants from the
Treasury for deficiencies in the postal reyenues,
$8,495,612.37, and miscellaneous expenses,
$180, 076,442.16
For military establishment, including rivers and
harbors, forts, arsenals, seacoast defenses, and
expenses on account of war with Spain and in
the Philippines, and miscellaneous
155, 911, 705. 93
For naval establishment, including construction
of new vessels, machinery, armament, equipment, improvement at navy-yards, expenses on
account of war with Spain and in the Philip^
pines, and miscellaneous
123,173, 716. QS
For Indian Service
18,504,131.60
Forpensions
160,696^,415.88
For interest on the public debt
"... 21, 342, 978. 83
Total
.
659, 705,391. 08
Excess of ordinary receipts over ordinary disbursements
15, 806, 323. 94
PANAMA C A N A L .
^
Receipts—No bonds were issued during the year for canal expenditures.
'
^
^
Disbursements—Paid from the general fund of the Treasury
33,911,673.37
Excess of Panama Canal disbursements over receipts
33, 911,673.37
SECRETARY O F T H E TREASURY.
27
P U B L I C DEBT RECEIPTS.
Gold certificates issued
Silver certificates issued.
United States notes issued
National-bank note fund
$283,178,000.00
, . . 353,997,600.00
129,940,000.00
31,674,292.50
Deduct certificates issued, $637,176,600, the cash"
received therefor being set aside in trust-fund
account for their redemption
Deduct United States notes issued, $129,940,000,
to replace a like amount of notes in kind retired. .J
798,789,892. 50
767,115,600.00
Total
31,674,292. 50
P U B L I C D E B T DISBURSEMENTS.
Gold certificates redeemed
$272,843,000.00
Silver certificates redeemed......
349,294,600.00
Treasury notes of 1890 r e d e e m e d . . . . . . . . . . . . . . . . . .
543,000..00
United States notes redeemed
129,940,000.00
Fundedloanof 1907 redeemed...'.
728,100.00
National-bank- note fund
32,288,770.50
Miscellaneous redemptions.,
32,825.00
Deduct certificates and notes redeemed from]
trust funds pledged therefor, $622,680,600
..
Deduct worn and mutilated United States notes
redeemed but replaced by the issue of new
notes in kind, $129,940,000..
Total...
785,670,295.50
752,620,600.00
;..........
Excess of public debt disbursements over receipts.
33,049,695.50
1,375,403.00
Postal service:
Postalrevenues
$224,128,657.62
Postal service paid from postal revenues, exclusive of grants from the Treasury of
$8,49.5,612.37 for deficiencies in the revenues charged in expenses of civil establishment...
224,128,657.62
Total receipts, exclusive of postal
707,186,007.62
Total disbursements, exclusive of postal, except postal deficiencies
by grants from the Treasury
726, 666,759. 95
Excess of all disbursements over all receipts
19,480,752.43
28
REPORT ON THE FINANCES,
SUMMARY.
Ordinary receipts
Ordinary disbursements.,
$675,511,715.02
659,705,391.08
Excess of ordinary receipts over disbursements
$15, 806, 323. 94
Panama Canal receipts
Panama Canal disbursements
33,911,673.37
Excess of Panama Canal disbursements over
receipts
Public debtreceipts
Public debt disbursements
31,674,292.50
33,049, 695. 60
33,911,673.37
Excess of public debt'disbursements over
receipts
...
Postalrevenues..
224,128,657.62
Postal service paid from postal revenues, and exclusive of $8,495,.612.37 grants from the Treasury
for deficiencies
224,128,657.62
Excess of Panama Canal and public debt
disbursements over receipts.
Excess of all disbursements over all receipts,
being decrease of balance in general fund
in 1910
Total balance in general fund June 30, 1909.......
Total balance in general fund June 30, 1910
1,375,403.00
—
35, 287,076.37
'
19,480,752.43
126,375,428.10
106,894,675. 67
Decrease in 1910
19,480,752.43
The securities redeemed on account of the sinking fund were as
follows:
Fractional currency
Seven-thirties of 1864 and 1865
Compound interest notes
Refunding certificates.
Seven-thirtiesof 1861.
Funded loan of 1907
Loan of 1904
Funded loan of 1881
Total
:
'.
$1,965
100
50
560
50
728,100
29,300
200
760,325
SECRETARY OF T H E TREASURY.
CONDITION OF THE TREASURY, J U N E 30,
29
1910.
The public debt of the United States at the close of the fiscal year
as stated in the debt statement of June 30, 1910, is set forth in detail,
as follows:
Interest-bearing debt:
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent.
Panama Canal loan, 2 per cent
$118,489, 900. 00
63, 945,460. 00
646, 250,150. 00
84, 631, 980. 00
$913,317,490.00
Debt on which interest has ceased:
Funded loan of 1891
Loan of 1904
Funded loan of 1907
Refunding certificates
Olddebt
$55, 750. 00
14,450. 00
1,129,250.00
17,160. 00
908,285.26
$2,124,895.26
Debt bearing no interest:
United States notes (greenbacks)
National-bank notes, redemption account
Old demand notes
Fractional currency
346, 681,016.00
27, 904,463.00
53,282. 50
6, 858,822. 28
381,497,583.78
Total interest and noninterest bearing debt
1,296, 939,969.04
Certificates and notes issued on deposits of coin
and silver bullion:
Gold certificates
862, 936,869.00
Silver certificates
489,117,000.00
Treasury notes of 1890
3, 672,000. 00
1, 355, 725,869.00
Total debt June 30, 1910
2, 652, 665,838.04
CASH IN THE T R E A S U R Y J U N E 30,
1910.
[From revised statements.]
Reservefund:
Gold coin and bullion
Trust funds:
Gold coin
Silverdollars
Silver dollars of 1890
General fund:
In Treasury offices—
Gold coin
$32,228,616.24
Gold certificates
60,182, 670. 00
Standard silver dollars....
3,055, 994. 00
Silver certificates
10,519,762.00
United States notes
11,893,146. 00
Treasury notes of 1890....
9,475. 00
National-bank notes
4,154,782. 54
$150,000,000. 00
$862,936,869.00
489,117,000.00
3,672,000. 00
:—1,355,725,869.00
•
122, 044, 445. 78
30
REPORT ON T H E FINANCES.
General fund—Continued.
Deduct current liabilities— National-bank 5 per cent.
fund
$25,616,415.91
Less notes in process of redemption
25, 616, 415. 91
Oustanding warrants and
checks
10,634,917.44
Balances to credit of disbursing officers
55, 594, 390. 04
Post - Office Department
balances
'.
2,210,190.78
Miscellaneous items
10, 784, 983. 68
$79, 224, 48L 94
Working balance in treasury offices
I n national-bank depositaries—
To credit of the Treasurer
of the United S t a t e s . . . 40,631,589.58
To credit of mints and as.
say offices....'
428, 596. 76
To credit of disbursing officers
11,149,399.39
$42,819, 963.84
52,209,585.73
I n treasury of the Philippine
Islands—
To credit of the Treasurer
of the United S t a t e s . . . .
To credit of United States
disbursing officers
587,447. 78
2, 883, 202. 79
3,470, 650. 57
55, 680, 236. 30
Deduct current liabilities—
Outstanding warrants
1, 642, 200. 03
Balances to the credit of .
disbursing officers
14,032, 602.18
15,674,802.21
Balances in banks and in treasury of
Philippine Islands
I n treasury offices—
Silver bullion (at cost)
Subsidiary silver coin
Fractional currency
Minorcoin
....!
Awaiting reimbursement. United States
bonds and interest paid
40,005,434. 09
3, 545, 834. 01
19,575,016.51
131. 25
936,199.08
12,096.89
24,069, 277. 74
Total balance in general fund June 30,1910
Total balance in general fund J u n e 30,1909
Decrease in 1910.
106,894, 675. 67
126, 375,428.10
19,480,752.43
31
SECRETARY OF T H E TREASURY.
COMPARISON OF R E C E I P T S , FISCAL Y E A R S 1909 AND 1910.
1909.
1910.
Increase.
Decrease.
Customs
$300,711,933.95 $333,683,445.03 532,971,511.08
Internal revenue:
246,212,643.59
268,981,738.48 22,769,094.89
Ordinary
Corporation tax
20,951,780.97 20,951,780.97
Sales of pu blic lands
$1,344,770.29
7,700,567. 78
6,355,797.49
Chinese indemnity
359,439.39
533,535.62
892,974.91
Profits on coinage, bullion deposits, etc...
2,536,208 69
6,656,017.27
4,119,808.58
Part payment Central Pacific Railroad
indebtedness
5,409,857.82
5,409,857.82
207,268. 44
Payment of interest by Pacific railways:.
217,331. 62
10,063.18
81,091.47
Tax on circulation of national banks, i..
3,251,919.56
3,333,011.03
Interest on public deposits
359,503. 46
. 476,856. 98
117,353.52
Customs fees, fines, penalties, etc
728,575.17
11,535.37
740,110.54
Navy pension interest, navy nospital and
clothing funds, fines and forfeitures, etc.
1,057,214.56
115,020.81
942,193. 75
278,482.29
12,939.86
Bales of ordnance material, etc
265,542.43
Consular, letters patent, and land fees....
702,330.80
5,039,138.40
5, 741,469. 20
135,173.55
Depredations on public lands...
. 397,870.15
262,696.60
Proceeds of town sites, Reclamation
Service.
.....
51,487.86
32,845.01
18,642.85
288,174.28
Forest reserve fund
2,093,005.85
1,804,831.57
8,169 37
Cooperative fund, Forest Service
37,333. 72
29,164.35
909,671.52
Immigrant fund
3,269,476.55
4,179,148.07
4,987.10
Naturalization fees. .
°
186,516. 75
181,529. 65
Tax on sealskins and rent of fox islands..
153,375.00
153,375.00
104,735. 00
Alaska fund
155,305.26
260,040.26
223,867.53
Judicial fees, fines, penalties, etc
942,462. 09
718,594.56
Sales of government property
762,745. 75
902,157. 57
1,664,903.32
331,694.76
Sales of lands and buildings
472,964. 76
141,270.00
217,164. 63
District of Columbia, general receipts
6,636,816.27
6,853,980.90
Panama Canal, rentals, work done, e t c . . .
73,891.61
1,329,768.04 1,255,876.43
Panama Railroad Company, principal
and interest of notes, and subsidy
1,884,621.44 1,362,440.06
522,181.38
317,024.69
1,015,640.24
Miscellaneous
.
. . •
1,332,664.93
TRUST FUNDS.
Department of State:
Miscellaneous trust funds
War Department:
Army deposit fund
Soldiers' Home permanent fund
Navy Department:
Navy deposit fund
Marine Corps deposit fund
Interior Department:
Deposits for surveying public lands..
Outstanding liabilities, lands
Proceeds of Indian lands
'
Indian inoneys, proceeds of labor
Miscellaneous trust funds
Personal funds of patients, Government Hospital for Insane
Pension money, Government Hospital for Insane
Department of Commerce and Labor:
Miscellaneous trust funds
District of Columbia:
Miscellaneous trust fund deposits... .
Washington redemption fund
Police and firemen's relief funds
Other trust funds
Total
Deduct—
Moneys covered by warrant in
year subsequent to the deposit
thereof.
Increase of unavailable items..
Add—
Moneys received in fiscal year
but not covered by warrant
Decrease of unavailable items
Ordinary receipts
Panama Canal:
Proceeds of bonds
Premium on sale of bonds
Panama Canal receipts
105,130.81
394,341.41
289,210. 60
1,879,395.36
446,245.47
. 1,859,888.94
811,162. 50
364,917.03
479,236.05
63,255.10
636,419. 00
141,917.00
157,182.95
78,661.90
163,139.00
2,753. 72
3,230,950.61
1,276,411.62
28,112.36
121,674.64
3,130.96
2,860,198.74
1,324,213.10
1,562.31
102,736.98
29,305.41
73,431.57
300,184.79
83,138.25
217,046.54
428,919. 35
111,766.43
121,664.63
24,371.42
305,240.60
85,878.10
109,837.20
54,756. 53
30,385.11
604,187,852.76
675,536,277.78
83,508,070.80
1,159,463. 61
5,673.50
• 566,774.19
592,689.42
5,673.50
603,022,715.65
674,969,503.59
84,106,433.72
566,774.19
301,960.00
240,251.43
240,251.43
603,589,489.84
675,511,715.02
84,346,685.15
377.24
47,801. 48
41,464.36
370,751.87
26,550.05
2,111.93
2,111.93
30,000,000.00
731,008.21
30,731,008.21
19,506. 42
123,678.75
25,888.33
11,827.43
12,159,645.78
12,159,645.78;
264,814.1912,424,459.97
30,000,000.00'
731,008.21
,:.
30,731,008.21
32
REPORT ON T H E FINANCES.
COMPARISON OF R E C E I P T S , FISCAL Y E A R S 1909 AND 1910—Continued.
1909.
1910.
Increase.
$45,624,239.50
$31,674,292.50
45,624,239.50
31,674,292.50
Decrease.
TRUST FUNDS—continued.
Public debt:
National-bank note fund
Public debt receipts
$13,949,947.00
13,949,947.00
Total receipts, exclusive of postal... 679,944,737.55
707,186,007.52 $84,346,685.15
203,562,383.07
224,128,657. 62 20,566,274.55
883,507,120. 62
931,314,665.14 104,912,959.70
Postal revenues .
Total receipts, including postal
57,105,415.18
57,105,415.18
COMPARISON OP DISBURSEMENTS, FISCAL Y E A R S 1909 AND 1910.
1909.
CIVIL ESTABLISHMENT.
$1,772,375.64
5,005,135.52
89,193.67
60,060.50
363,498.64
5,735,847.10
627,258.88
25,628.68
. .
Total executive proper
Department of State:
Salaries and expenses
Foreign intercourseDiplomatic salaries .
Consular salaries
Contingent expenses of foreign
missions
Contingencies of consulates
Emergencies arising in the diplomatic and consular service
Miscellaneous items
Trust funds .
Total Department of State
Treasury Department:
Salaries and expenses
Independent Treasury
Mints and assay offices
Salaries, etc., internal revenue
Miscellaneous, internal revenue
'Collecting customs revenue
Refunding excess of deposits, customs.
Debentures or drawbacks, customs
Miscellaneous items, customs
Revenue-Cutter Service
New revenue vessels
. . .
iSpecial repairs to revenue steamers...
Public Health and Marine-Hospital
Service
Life-Saving Service
Engraving and Printing
Public buildings
Fuel, etc., public buildings
Custodians and janitors
Furniture for public buildings
Epidemic diseases
Seattle Exposition
Miscellaneous items .
Special f u n d s Philippine special funds
Total Treasury Department
Increase.
Decrease.
o
Legislative:
Senate
House of Representatives
Legislative, miscellaneous
• National Monetary Commission
Immigration Commission
Public Printer
Library of Congress
Botanic Garden
Total legislative..
Executive proper:
Salaries and Commission
Civil Service expenses
1910.
$1,945,514.64
4,896,504.00
72,384.37
95,115.25
222,500.00
5,451,153.22
899,694.07
33,630.57
13,678,998.63
13,616,496.12
187,529.69
256,577.52
255,350.99
264,857.49
67,821.30
8,279.97
444,107.21
520,208. 48
76,101.27
$173,139.00
'
•
35,054.75
272,435. i9
8,001. 89
488,630.83.
$108,631.52
16,809.30
140,998.64
284,693.88
551,133.34
1,586.45
427,275.52
425,689.07
712,417.28
1,322,593.63
767,355.70
1,354,279.97
54,938.42
31,686.34
271,632.40
381,582.59
340,793.95
447,817.81
69,161.55
66,235.22
42,353. 53
632,267.75
90,208.05
70,444.24
691,517.30
811,659.73
28,090.71
59,249.55
721,451.68
3,880,330.75
4,909,557.77
1,030,813.47
5,183,613.40
778,501.35
1,331,128.21
4,349,714.42
1,203,537.93
10,261,073.33
2,882,715.84
6,774,215.45
229,588.80
2,277,954.79
736,610.06
78,068.42
4,331,153.95
758,129.49
1,131,651.47
4,382.985.50
1,094,579.61
10,491,815.89
3,851,044.33
6,216,969.36
243,895.06
2,496,838.22
81,935.49
3,867.07
1,587,562.06
2,258,600.58
3,057,557.52
12,452,502.41
1,391,209.45
1,735,322.45
371,307.54
441,425.65
320,286.31
1,022,982.71
1,716,757.80
2,256,574.30
3,612,673.77
18,033,942.94
1,404,011.33
1,771,300.71
670,063.58
264,060.78
127,388.28
979,979.15
129,195.74
981,715.60
66,082,776.09
••
1,586.45
852,459.45
20,371.86
. 199,476.74
33,271.08
230,742.56
968,328.49
14,306.26
218,883.43
555,116.25
5,581,440.53
12,801.88
35,978.26
298,756.04
108,958.32
557,246.09
736,610.06
2,026.28
177,364.87
192,898.03
43,003.56
816,690.52
165,025.08
61,707,194.28
-
8,082,687.59
3,707,105.78
SECRETARY OF T H E TREASURY.
33
COMPARISON OF DISBURSEMENTS, FISCAL Y E A R S 1909 AND 1910—Continued.
1909.
I9I0.
Increase.
Decrease.
CIVIL ESTABLISHMENT-Continued.
War Department:
Salaries and expenses
Public buildings and grounds
$1,907,869.11
368,881.62
$1,903,888.44
357,362.90
$3,980.67
11,618.62
Total War Department
2,276,760.63
2,261,261.34
16,499.29
769,613.11
800,491.71
6,022,638.59
2,950,066.66
981,760.76
77,246.69
663,176.91
1,750,000.00
4,992,226.83
3,187,669.04
887,027.96
73,669.09
700,922.67
2,000,000.00
363,527.15
1,463,771.61
107,461.96
283,289.34
573,836.28
164,455.92
444,730.43
697,509.96
182,834.49
260,067.22
9,627,931.69
7,888,603.63
437,639.26
. 349,936.15
44,398.30
127,040.32
82,762.93
34,858.24
195,120.32
64.63
22,000.00
164,925.14
63.13
96,436.03
73,436.03
799,101.05
Navy Department:
Salaries and expenses
Interior Department:
Salarieslands exnenses
Public and service
Geological Survey
National parks
Beneficiaries
Colleges for agriculture
OflQce Building, House of Representatives
Office Building, Senate
Heating, lighting, and power plant,
congressional buildings
Capitol building and grounds
Miscellaneous items
Special f u n d s Reclamation fund
Five, thi-ee, and two per cent
funds, sales of lands
Revenues of national parks and
Hot Springs, Ark
Miscellaneous special funds
Trust f u n d s Deposits for surveying pubhc
lands
Outstanding liabilities, lands
MisceUaneous trust funds
$30,978.60
30,411.76
237,602.38
94,722.80
3,677.60
47,745.76
250,000.00
266,066.19
1,180,482.27
123,673.68
28,378.57
184,073.21
1,739,327.96
87,703.11
38,364.63
92,182.08
30,195.18
11.60
24,889,396.32
21,989,143.81
Post-Oifice Department:
Salaries and exDenses
....
Deficiency in postal revenues
Mail transportation, Pacific railways..
Weighing, etc., mail matter
Miscellaneous items
.
1,669,606.36
19,601,062.37
187,411.61
216,977.90
14,637.37
1,619,172.60
8,495,612.37
Total Post-Office Department
21,689,594.61
10,117,906.92
3,056,324.63
30,275.60
1,662,079.71
3,098,760.29
264,803.04
3,814,948.38
3,334,174.06
277,849.42
1,149,346.60
2,967,997.24
318,177.31
4,503,286.44
63,374.27
688,338.06
960,104.68
1,372,776.00
1,662,402.46
1,076,843.17
1,483,143.21
1,667,949.64
. 126,738.69
110,367.21
116,547.08
443,652.27
438,702.81
4^949.46
100,409.18
1,416.96
98,993.22
32,065.21
3,866.98
37,190.28
7,796.27
6,125.07
3,929.29
16,282,468.23
16,976,021.88
1,381,268.99
868,065.62
158,000.43
271,175.03
1,141,476.61
1,001,199.59
6,002,657.67
689,888.79
45,915.87
738,123.31
178,074.31
419,246.74
6,419,266.96
949,529.73
6,006,767.70
687,879.63
85,630.16
126,000.00
Total Interior Department
Department of Agriculture:
Salaries and miscellaneous
Building
Expenses, Animal Industry
Meat inspection. Animal Industry
Purchase of seeds
".
Forest Service
Expenses of Plant Industry and cotton boll weevil investigation
Agricultural experiment stations
Weather Bureau
Special funds— •
Payment to States and Territories
from National Forests fund . .
Administration, etc., of forest reserves
Cooperative work, forest investigations
Miscellaneous special funds
Total Departmentof Agriculture
Department of Commerce and Labor:
Salaries and expenses
Bureau of Labor
Bureau, of Standards
Census 0 ffice;.
Coast and Geodetic Survey.
Light-House Establishment..
Bureau of Fisheries
Fish hatcheries.
Immigration stations
Bureau of Immigration and Naturaii• zatlon
Resnilatinff immieration
Steamboat-Inspection Service
Miscellaneous items
65872°—FI 1910
520.804.43
35,124.06
50,432.76
11,006,460.00
187,411.51
216,802.88
11,690.44
176.02
2,946.93
104,500.00
2,324,663.72
630,781.99
209,662.77
3,699,352.66
II, 471,687.69
30,276.60
412,734.11
140,763.05
687,716; 34
129,942.31
20,073.88
148,071.71
6,277,780.35
•
•
-
.
. - . , . . • ;
4,1.00.03
39,714.29
126,000.00
104,600.00
2,324,663.72,
9,977.56
174,438.71;
•
=61,669.86.
2,009.16
34
REPORT ON T H E FINANCES.
COMPARISON OF D I S B U R S E M E N T S , FISCAL Y E A R S 1909 AND 1910—Continued.
1909.
1910.
Increase.
Decrease.
CIVIL ESTABLISHMENT-Continued.
Department of Commerce and Labor-Con
Special f u n d s Immigration and Naturalization..
Regulating immigration
Chinese-exclusion act
Ellis Island, New York Harbor...
Immigration stations
Miscellaneous special funds
TotalDepartment of Commerce
and Labor
Department of Justice:
Salaries and expenses
Salaries of justices, assistant attorneys, etc
Court of Claims
Salaries, fees, etc., of marshals
Fees of witnesses.. 1
Salaries and fees, district attorneys...
Fees of jurors
Fees of clerks
Fees of commissioners
Support of prisoners
Pay of bailiffs
Miscellaneous expenses. United States
courts
Miscellaneous items
Total Department of Justice
Independent bureaus and offices:
Interstate Commerce Commission
Smithsonian Institution
National Museum
Zoological Park
Territorial governments
Total independent bureaus and
offices
District of Columbia:
Salaries and expenses
Terminal improvements
Special f u n d s Water department
Miscellaneous special funds
Trust f u n d s Miscellaneous trust-fund deposits.
Washington redemption fund
PoHce and firemen's relief funds..
Other trust funds
$97,493.06
1,974,602.11
602,435.23
870,000.00
112,000.00
10,631.36
$227.68
206,595.02
24,973.96
110,000.00
101,000.00
$97,265.37
1,768,007.09
477,461.27
760,000.00
11,000.00
10,631.36
14,301,469.85
19,221,703.68
$8,228,220.25
973,793.22
1,010,453.86
36,660.64
1,080,816.67
66,066.49
1,312,797.73
843,394.28
551,180.88
977,700.60
335,121.36
97,908.64
579,078.44
211,167.76
1,108,136.34
74,594.16
1,348,138.63
898,910.71
. 563,674.66
978,327.02
330,958.41
111,013.10
517,464.94
224,845.91
27,319.67
8,528.67
35,340.90
55,516.43
12,493.78
626.42
""is," 678." is
576,238.54
1,533,952.15
724,348.95
1,715,721.84
148,110.41
181,769.69
9,139,215.66
9,606,588.53
633,149.32
1,026,963.88
153,198.49
1,260,485.71
98,824.41
227,097.05
1,155,665.67
150,667.18
733,995.13
95,320.70
188,150.65
128,701.79
128,701.79
3,307,986; 42
2,766,569.54
2,323,799.33
10,634,981.44
3,000,000.00
591,075.68
7,480.90
368,789.07
110,402.95
104,185.34
10,993.24
334,243.24
89,900.00
120,296.62
51,961.04
61,613.60
65,776.45
2,631.31
526,490.68
3,503.71
38,946.40
10,455,539.02
537,969.18
9,220.53
4,162.96
13,104.56
571,472.00
179,442.42
3,000,000.00
53,106.50
1,739.63
34,545.83
20,502.95
16,111.28
40,967.80
Total District of Columbia
14,776,541.75
11,650,496.50
110,185.58
3,236,230.83
Total Civil Establishment
186,502,149.47
180,076,442.16
20,889,838.74
27,316,646.06
41,979,486.21
45,821,094.99
3,841,608.78
853, 1.35
34, 526. 42
7,101, 186.83
37,667, 520.03
332, 760.34
1,942,392.33
13,493, 637.57
5,472; 181. 52
435, 743.68
1,516,459.16
11,119, 320.80
23,297, 162.30
4,188;803.50
4,219,695.64
1,185,237. .62
640, 120. 24
20, 116. 25
9,234, 666.91
33,409, 658.86
339, 600. 43
1,575, 703. 86
12,270, 131.30
6,035, 666.35
354, 500. 73
1,635, 868. 21
6,542, 805. 71
22,473, 308.00
5,026, 606.48
4,248, 394. 75
1,233, 633.30
MILITARY ESTABLISHMENT.
Pay Department
Encampment and maneuvers, army and
militia
Extra pay, war with Spain
Commissary Department
Quartermaster's Department
National cemeteries
Medical Department
Ordnance Department
Engineer Department
Signal Service
Military Academy
Improving harbors
Improving rivers.
Military posts
National homes for disabled soldiers
State homes ior disabled soldiers.. ^
Reimbursing States and Territories expenses of troops, Spanish war
Payment to State of Kansas, suppressing
Indiau hostilities
'.
Relief of sufferers from cyclone
Judgments, Court of Claims and United
States courts
Soldiers' Home interest account
Miscellaneous items
130,25.3.66
218,796.86
213,789.11
14,410.17
2,133,479.08
4,247,861.17
6 " 740." 69'
,
366,688.47
1,223,506.27
663,484.83
81,242.96
"iig," 409." 65'
837,802.98
28,699.11
48,295.78
88,543. 20
425,065.43
100,977.88
426,066.43
100,977.88
114,116.07
104,502.46
2,929,232.49
4,576,515.09
823,854.30
269,276.83
98,831.62
2,083,378.89
155,160.76
6,670 84
846,803.60
SECRETARY OF T H E TREASURY.
35
COMPARISON OP DISBURSEMENTS, FISCAL Y E A R S 1909 AND 1910—Continued.
1909.
I9I0.
Increase.
Decrease.
MILITARY ESTABLISHMENT-Continued,
Special funds:
Wagon roads, etc., .A-Iaska fund
Ordnance material, powder, etc
Miscellaneous special funds
Trust funds:
Pay of the army, deposit fund
Soldiers' Home permanent fund
$145,428.27
30,653.30
13,000.00
$74,88L67
111,928.29
10,000.00
$81,274.99
1,335,209.63
909,000.00
1,542,536.40
640,400.00
207,326.77
Total Military Establishment
161,067,462.39
155,911,705.93
8,111,825.42
Increase of the navy.
Bureau of Yards and Docks
Bureau of Equipment..
Bureau of Navigation
Bureau of Construction and Repair
Bureau of Ordnance.
Bureau of Steam Engineering
Bureau of Supplies and Accounts
B ureau of Medicine and Surgery
Marine Corps
Naval Academy
Pay of the navy
Judgments, Court of Claims and United
States courts
Relief of sufferers from earthquake in
Italy
Miscellaneous items
Special funds:
Naval hospital fund
ClothiDg and small-stores fund
Ordnance material (proceeds of sales).
Fines and forfeitures
•
Trust funds:
Pay, Marine Corps, deposit fund
Pay of the navy, deposit fund
Prize money
'.
25,401,908.40
6,047,006.85
9,695,661.75
3,327,445.18
9,360,646.69
11,059,829.69
6,741,938.93
8,291,895.77
478,319.14
4,439,879.08
839,677.01
29,365,165.05
29,201,056.26
6,766,233.76
7,997,302.12
3,335,591.72
7,664,165.72
9,484,491.03
6,457,826.67
7,636,136.24
713,972.67
8,776,718.90
779,017.69
32,096,444.74
3,799,147.86
719,226.91
Total
Deduct repayments in excess of expenditures
$70,546.60
3,000.00
268,600.00
13,267,581.88
NAVAL ESTABLISHMENT.
8,146.54
235,653.53
4,336,839.82
2,731,279.69
1,698,359.63
1,696,480.97
1,575,338.66
284,112.26
656,769.53
60,659.32
.23,701.12
4,978.11
18,723.01
473,994.67
797,954.46
323,936.85
1,064,790.82
"266,836.36
150,057.82
1,011,252.13
294,038.29
44,075.41
1,163,754.99
152,502.86
105,117.66
114,116. 73
61,042.25
114,116.73
6,136.35
466,634.95
3,120.79
61,277.00
471,762.40
1,063.07
65,140.65
6,127.45
118,170,281.71
124,219,755.15
12,485,060.65
294,038.29
2,057.72
6,435,587.21
2,624^270.62
1,046,038.47
115,646,011.09
123,173,716.68
927,902.43
1,282,126.46
569,509. 66
1,574,341.95
69,279. 31
3,681,704.89
3,879,307.68
3,710,445. 73
910,208.24
1,452,485.97
646,176.63
1,514,718.04
69,051.30
3,523,521.02
7,390,684.07
2,997,286.33
Total Indian Service
15,694,618.11
18,504,131. 60
Pensions
Interest on the public debt
161,710,367.26
21,803,836.46
160,096,415.88
21,342,978. 83
1,013,951.37
460,857.63
45,245,127. 68 47,864,181.37
Total Naval Establishment
1,578,232.15
12,485,060.65
4,857,356.06
INDIAN SERVICE.
Current and contingent expenses
Fuffilling treaty stipulations
Miscellaneous supports
"
Interest on Indian trust-fund accounts...
Incidental expenses of Indian Service.
Support of Indian schools
Miscellaneous expenses
Trust funds
Ordinary disbursements
170,359. 51
76,666.97
3,511,376.39
17,694.19
59,623.91
228.01
158,183.87
713,159.40
3,758,4.02.87
948,889.38
662,324,444. 77
659,705,391.08
Panama Canal disbursements
31,419,442.41
33,911,673.37
Public debt:
National-bank note fund
Certfficates of indebtedness
Funded loan of 1907
Miscellaneous redemptions
89,562,083.00
14,186,500.00
1,208,200.00
39,987.00
32,288,770.50
728,100. 00
32,825.00
57,273,312.50
14,186,500.00
480,100.00
7,162.00
Public debt disbursements
104,996,770.00
33,049,695.50
71,947,074.50
Total disbursements, exclusive of
postal . . .
798,740,657.18
726,666,759.95
47,737,358.64 119,811,255.87
203,562,383.07
224,128,657.62
20,566,274.55
Total disbursements, including postal
. . . .
1,002,303,040.25
950,795,417.57
68,303,633.19 119,811,255.87
Postal Service a
2,492,230.96
a Exclusive of grants from the Treasury for deficiencies in postal revenues for 1909, $19,501,062.37, and
L I 1910, $8 495,612.37, included in expenses of civil establishment, page 33.
36
REPORT ON T H E FINANCES.
Fiscal year 1911.
The ordinary receipts of the Governmeiit for the current fiscal
year are estimated upori the basis of existing laws as follows:
From
From
From
From
customs
internal revenue, ordinary
corporation tax
miscellaneous sources
$320, 000,000
283,000,000
25,000,000
50,000,000
Total estimated ordinary receipts
$678,000.000
The ordinary disbursements for the same period are estimated as follows:
For
For
For
For
For
For
the civil establisliment
the War Department
the Navy Department
the Indian service
,
pensions
interest on the public debt
$174,000,000
169,000,000
125,000, 000
16,000,000
156,000,000
22,195,000
Total estimated ordinary disbursements
Or a surplus in ordinary receipts of
For Panama Canal disbursements
662,195, 000
15, 805, 000
45,000, C O
O
For miscellaneous redemptions of the public debt
400,000
45,400,000
A total deficit of
29, 595,000
Transactions in deposits and red^motions for the national-bank
note redemption account, act of July 14, 1890, are excluded from the
estimates, no excess of redemptions over deposits for retirement of
the notes being anticipated.
Postal service:
Estimated postal revenues for the current year
$243,000,000
Estimated expenditures for the postal service, payable from said
revenues
243,000,000
Fiscal.year 1912.
I t is estimated that upon the basis of existing laws the ordinary
receipts for the fiscal year 1912 will be— .
From
From
From
From
customs...
internal revenue, ordinary
corporation tax
miscellaneous sources
,
Total estimated ordinary receipts
$320,000,000
285, 000, 000
25,000,000
50, 000, 000
680, 000,000
B.'ECRETAR.Y OF T H E TREASURY.
Si
The estimates of appropriations for the fiscal year 1912, as submitted by the executive departments and offices, are as follows:
Legislative establishment
Executive establishment:'
Executive proper
Department of State
Treasury Department
War Department
Navy Department
Department of Interior
Post-Office Department
Department of Agriculture
Department of Commerce and Labor
Department of Justice
Territorial governments
1
$7,193,784.85
$488,170.00
390,360.00
10,815,162.00
2,219,008. 00
867,670.00
5, 214, 260. 00
1, 697,490. 00
15, 997, 066. 00
4, 818, 220. 00
557, 720. 00
181, 650. 00
^
43,246,776.00
Judicial establishment
1,314,600.00
Foreign intercourse
4,314,216.41
Military establishment..
93, 246, 776.80
Naval establishment
,
117, 924, 832.24
Indian affairs
8,146,260.00
Pensions
,
153, 688,000. 00
Public works:
Legislative
' 7,000. 00
. Treasury Department, public buildings and works 11, 864, 545. 60
War Department
37, 859,391. 32
Navy Department.
-.
8,121,827.00
Department of Interior
303,000. 00
Department of Commerce and Labor
1, 704,800. 00
Department of Justice
285, 500. 00
60,146,063. 92
Miscellaneous:
Legislative
6,136,020. 88
Executive
510,000.00
Treasury Department
21,153,289.00
War Department
6, 745, 922. OO
Department of Interior
'
5,172, 355. 00
Department of Commerce and Labor
9, 750,950. 00
Department of Justice
7, 773,256.00
District of Columbia
12,872, 985. 90
Smithsonian Institution and National M u s e u m . . .
967,000. 00
. Interstate Commerce Commission
1,615,000.00
72, 696, 778. 78
Permanent annual appropriations:
Interest on the public debt
21, 600,000. 00
Refunds—customs, internal revenue, etc
17,890,400. 00
Collecting revenue from customs
5, 500,000. 00
Miscellaneous, exclusive of sinking fund
23, 585, 524.12
68, 575, 924.12
Total estimated ordinary appropriations, including public
buildings and works under Treasury Department, and excluding postal service payable from the postal revenues
630,494, 013.12
88
M P O M O N THJil FiN^^ANCEg.
The Panama Canal appropriations to be reimbursed by proceeds of
bond sales are estimated at
.•
. . $56, 920, 847. 69
Total estimated appropriations for 1912
687, 414, 860. 81
A surplus of ordinary receipts over estimated expenditures of
A deficit, including Panama Canal estimates, of
49, 505, 986. 88
7,414, 860. 81
Postal service:
The postal revenues for the year are estimated at
250,733. 945,00
And the appropriations for the postal service, payable from
said revenues, are submitted at.
250, 733. 945. 00
Comparison of the estimates for 1912 with the appropriations for
1911 shows a decrease in the 1912 estimates of $33,899,039.67, as
exhibited in the tables following.
S T A T E M E N T O P E S T I M A T E S O F A P P R O P R I A T I O N S F O R 1912 D E C R E A S E D U N D E R A P P R O P R I A T I O N S FOR
1911.
[Excluding sinking fund and postal service payable from the postal revenues.]
Departments, etc.
Legislative
•.
Executive
State Department
Treasury DepartmentTreasury Department, proper
Treasury Department, p u b l i c
buildings and works
Territorial governments
—
Independent ofBces
District of Columbia
War DepartmentWar Department, proper
,
Rivers and harbors
:
Navy DepartmentNavy Department, proper
New navy building program
Interior Department
Post-Office Department, proper
Deficiency in postal revenues
Department of Agriculture
Department of Commerce and Labor...
Department of Justice
Ordinary.
Net decrease in ordinary.
Panama Canal
Total
,
Total net decrease.
1912 estimates, 1911 appropria- Decrease in
Increase in
including
tions, including| 1912 estimates 1912 estimates
permanent
permanent
under 1911
over 1911
annual.
annual.
appropriations. appropriations.
$13,426,805.73 $12,938,048.00
998,170. 00
870,750.00
4,875,576.41
5,046,701.41
$171,125.00
68,736,451.00
69,973,434.61
1,237,983.61
11,864,545.60
202,150. 00
2,638,695.12
13,602,785.90
6,665,164.00
282,600.00
2,128,695.12
11,440,345.99
80,450. 00
120,104,260.12
28,232,438.00
122,322,178.12
49,390,541.50
2,217,918.00
21,158,103.60
116,101,730.24 119,596, 870.46
12,840,428.00 14,790, 122. 00
189,151,876.00 214,754, 278.00.
2,085, 005.33
1,697,490.00
10,634, 122. 63
19,681,066.00 17,821, 836.00
16,276,970.00 14,169, 969.32
9,648, 237. 99
10,063,576.00
3,495,140.22
1,949,694.00
25,602,403. 00
387,515. 33
10,634,122.63
630,494,013.12 683,458,900.48
66,934,455.29
56,920,847.69
37,855,000.00
687,414,860.81
721,313,900.48
$488,757.73
127,420.00
6,299,381.60
510,000.00
2,162,439.91
1,859,230.00
2,107,000.68
415,338.01
13,969,567.93
62,964,887.36
19,065,847.69
52,964,887.36
33,899,039.67
19,065,847.6
SEORETARY OF THE TREASURY.
39
Exhibit of appropriations for 1911.
Total appropriations for 1911, including estimated permanent
annual appropriations and deficiencies for prior years
$1,039, 550, 617. 01
Deduct appropriations made for the postal service for 1911,
$243,907,020, and deficiencies made therefor for prior years,
$983,207.05, which are payable from the postal revenues, except any excess of expenditures over the revenues
244, 890,227. 05
794, 660,389. 96
Add—
Deficiency in the postal revenues for 1911, payable by law from
the General Treasury, estimated at
10,634,122. 63
805, 294, 512. 59
Deduct—
Sinking fund, and deficiencies for prior years
83, 980,612.11
Total
Agreeing with the appropriations for 1911 shown in the preceding table, against which the estimates of appropriations submitted for 1912 show a decrease of $33,899,039.67.
1^
721, 313, 900. 48
I respectfully call your attention to the two further divisions of this
report, to-wit: The condensed annual reports of the various bureaus
and divisions of the Treasury Department, and the tables accom• panying the report on the finances.
FRANKLIN MACVEAGH,
Secretary.
' To the SPEAKER OF THE H O U S E OF REPRESENTATIVES.
ABSTRACTS OF REPORTS OF BUREAUS AND DIVISIONS.
41
ABSTRACTS OF EEPORTS OF BXJREATJS AISTD DIVISIONS.
The following is a summary of the reports of bureaus and divisions
of the Treasury Department for the fiscal year ended June 30, 1910,*
with the exception that the figures in relation to public moneys and
loans and currency are brought to November 1:
TREASURER OF THE UNITED STATES.
At the beginning of the fiscal year 1910 the Treasury was embarrassed by the continued excess of ordinary disbursements over receipts,
an unfavorable market for the sale of bonds by which to provide
funds for the construction of the Panama Canal, and the delay in the
revision of the tariff. Under such conditions, with a reduced working
balance, the disbursements were limited to the immediate needs of
the pubhc service until the income should be increased by the operation of the new tariff when enacted.
The ordinary receipts, by warrants, and adjustments for moneys
received but not covered by warrants in the year, were $675,511,715.02,
an increase of $71,922,225.18 over those of 1909, while the ordinary
disbursements were $659,705,391.08, a decrease of $2,619,053.69, as
shown by like comparison. The net result of ordinary transactions
was a surplus of $15,806,323.94, as against a deficit of $58>J4,954.93
in the preceding year.
I t was not deemed advisable at any time during the last fiscal year
to offer for sale United States bonds under provisions of existing law
on the Panama Canal account. I t became necessary, therefore, to
advance from the general fund in the Treasury $33,911,673.37 for
disbursement in the construction of that public work.
The total amount expended on the purchase and construction of the
canal to the close of the fiscal year 1910 was $204,096,342.07, of
which $87,309,594.83 was from the proceeds of sales of bonds. The
balance of $116,786,747.24 was advanced from the general fund in
the Treasury and is reimbursable from proceeds of bonds not yet sold.
Under existing laws the total amount of bonds authorized for the
Panama Canal is $375,200,980, of which $84,631,980 had been issued
to the. close of the fiscal year 1910, leaving $290,569,000 unissued.
The cash receipts on account of the public debt during the last fiscal
year were $31,674,292.50 in law^ful money of the United States to
43
44
M P O M ON THE FINANCES.
retire national-bank notes; the disbursements on account of principal
of matured loans and fractional currency were $760,925, and for
national-bank notes canceled and retired $32,288,770.50, a total disbursement for the public debt of $33,049,695.50. The net result was
a total excess of disbursements of $1,375,403. The interest-bearing
debt on June 30, 1910, w^as $913,317,490, and the annual interest
charge thereon $21,275,602.40.
The balance of piibhc moneys in depositary banks at the beginning of the year to the credit of the general fund was $60,427,525.69,
' against which there was an unpaid call of $24,954,000, payable by
July 31. This balance became $38,065,058.79 by the close of August,
after which the variations therein were unimportant to the close of the
fiscal year, when the balance in such banks was $40,631,589.58.
The trust funds at the close of the fiscal year 1910 aggregated
$1,355,725,869, a net increase of $14,345,000 as compared with those
of 1909. The gold coin increased $10,185,000 and the silver dollars
$4,160,000. These funds are held for the redemption of the certificates and notes outstanding, for which they are respectively pledged.
. The presentation of national-bank notes for redemption attained a
maximum at $502,498,994, equal to 70.98 per cent of the average
amount of such notes outstanding during the year. Compared with
1909, there was an increase of $40,976,792, or 8.88 per cent. The
expenses incurred for such redemptions were $434,093.10, which has
been assessed on the banks at the rate of $0.88066 per $1,000 of notes
redeemed.
The total monetary stock of the United States on June 30, 1910,
was $3,419,591,483, of which $1,636,043,478 was gold. As compared
with that of twelve months earlier, the-net increase was $13,263,129.
The money in circulation on June 30, 1910, amounted to $3,102,355,605, a per capita of $34.33. The percentage of gold to total circulation was 44.91.
The notes and certificates of United States paper currency issued
during the last fiscal year numbered 240,990,922 pieces of the total
value of $767,115,600. The redemptions were 216,173,273 pieces, of
the value of $752,620,600. The average eost of ea,ch piece of United
States paper currency issued and redeemed is about 1.571 cents, and
the annual cost of maintenance of the currency issued by the National
Government averages about one-fifth of 1 per cent of the amount
outstanding.
There is constant demand for small denominations of currency,
w:hich the Treasury can only partiaUy supply through the process of
redemption and reissue. The volume bf gold certificates, restricted
in denominations to $10 and above, is greater than that of any other
kind of paper money in circulation. Large amounts of this currency
are sent to the Treasury for redemption, with requests for a part of
SECRETARY OF T H E TREASURY.
45
the returns in denominations of $5. I t appears, therefore, that there
are good reasons for the issue of a $5 gold certificate. Such an issue
will enable the Treasury to respond more fully to the demands for
small denominations of currency.
The United States bonds pledged as security for the circulating
notes of the national banks took on a growth of $26,285,810 during
the past fiscal year, and at its close amounted to $686,974,880.
The bonds pledged tb secure the public deposits in national banks
amounted to $51,774,700 on June 30, 1910.
The standard silver dollars in circulation on June 30, 1910,
amounted to $72,432,514, as against $71,987,900 for the corresponding period in 1909. The amount of these coins shipped to depositors
therefor at the expense of the consignee for transportation during
the last fiscal year was $14,384,734, as against like shipments of
$11,865,180 in 1909.
The amount of subsidiary silver coin shipped to depositors therefor
at governnient expense for transportation during the fiscal year 1910
was $43,977,039.70. The average rate for transportation was $L92
per $1,000. In future, the distribution of these coins to depositors
therefor will be at the expense of the consignee for transportation
charges.
United States notes to the amount of $11,695,012, and Treasury
notes for $9,880 were redeemed in gold from the reserve fund during
the last fiscal year. The redeemed notes were immediately exchanged
for gold, and the reserve was thus kept intact.
The Treasury holdings of gold amounted to $1,045,165,485.24 at
the close of the fiscal year 1910, and set apart for the respective uses
it was held on the following accounts: Reserve fund, $150,000,000;
trust funds (for the redemption of gold certificates in actual circulation), $802,754,199, and in general fund (belonging to Treasury),
$92,411,286.24. This is not the maximum holdings in our annals,
however, but more than is held under single control elsewhere in the
world.
The available balance in the Treasury at the beginning of the fiscal
year was $126,375,428.10. The excess of all disbursements over all
receipts for the first half of the year reduced the balance to
$77,085,536.92 by January 25, 1910, but a reversal of such conditions
in the later months carried the balance upward, and at the close of
the year it was $106,894,675.67, a net decrease of $19,480,752.43
during the year.
District of Columbia.
The net expenditures on account of the District of Columbia for
the fiscal year"^1910, by warrants paid, were $11,650,496.50.
The net revenues deposited in the Treasury by warrants on this
account for the same period were $7,409,693.33.
46
REPORT ON T H E FINANCES.
The amount of the funded debt retired during the year was $622,050,
reducing the annual interest charge by $22,704.82.
The total issue of the 3.65 per cent bonds is limited by law to
$15,000,000, and of this sum $14,997,300 has now been issued. The
bonded debt outstanding June 30, 1910, consists of $9,492,100 bonds
bearing 3.65 per cent interest.
At the close of the fiscal year 1910 the 10 per cent guaranty fund
retained from District contractors amounted to $255,915.70, and is
represented by $175,210 in bonds purchased at the request and risk
of the contractors and $70,344.29 uninvested cash.
Detailed information in regard to the affairs of the District of
Columbia will be found in the reports of the District Commissioners
and the Treasurer of the United vStates, ex officio commissioner of
the sinking fund of the District of Columbia.
COMPTROLLER OF THE CURRENCY.
Charters were issued during the fiscal year to 337 national banking
assdciations, with authorized capital of $30,115,000, and included ia
the number were 69 conversions of state banks, 65 reorganizations of
state and private banks, and 203 associations of primary organization. In the same period 125 banks were closed, of which 120 were
placed in voluntary liquidation by the shareholders. Generally these
banks were placed in voluntary liquidation for the purpose of reorganizing or transferring their business to other national or state
banks, as 54 banks were absorbed by or reorganized as state banks,
42 absorbed by other national banks, 5 reorganized as national banks,
and 19 discontinued business. In the banks liquidated are included
three associations, the corporate existence of which expired by limitation. Over one-third of the banks that liquidated were located in
the States of Kansas, Oklahoma, and Texas, wherein state bank
guaranty laws are in operation. Of the 9 banks that liquidated in
the State of Kansas, 6 were succeeded by state institutions and 3
were absorbed by other national banks. In Texas 8 of the 16 liquidated banks w^ere succeeded by state institutions, 5 were absorbed by
other national banks, and 3 liquidated to discontinue business. Of
the 19 banks liquidated in Oklahoma, 13 were succeeded by state
banks, 3 were absorbed by national banks, and 3 discontinued
business.
While receivers were appointed for 7 banks, there were but three
failures during the year, the capital of the three at date of closing
being $250,000, and the aggregate liabilities to depositors and other
creditors, exclusive of liability on circulation, $1,166,019. Two of the
3 failed banks have paid dividends, one at the rate of 35 per cent and
the other 60 per cent. In two instances receivers were discharged.
SECRETARY OF THE TREASURY.
47
evidence being submitted of the ability of the banks to pay their
creditors in full. In one of these cases the bank resumed business,
and in the other voluntary liquidation was effected for the purpose of
settling the bank^s affairs. The two other receiverships were of banks
heretofore placed in voluntary liquidation. In one instance it was
deemed advisable to appoint a receiver for the purpose of enforcing
a certain liability of the directors and forestall the appointment of a
receiver by the state court; and in the other a receiver was appointed
to enforce the stock liability by reason of the existence of an unsatisfied judgment.
On March 14, 1900, there were in active operation 3,617 national
banks, and from that date to July 1, 1910, 4,539 associations, with
capital of $284,173,300, were authorized to begin business. During
this period, and under authority of the act of March 14, 1900, 2,907
banks, with capital of $75,705,500, were authorized to begin business.
These banks generally were uicorporated with the minimum capital—
namely, $25,000—but by reason of the organization of a few with
capital exceeding that amount, but less than $50,000, the average
capital of the banks organized under this act was $26,042. The
remaining banks organized during this period---namely, 1,632, with
capital of $208,467,800—were incorporated under the act of 1864.
Further subdividing the organizations, it is shown that of the 4,539
banks chartered, 634, wdth capital of $49,325,800, were conversions
of state banks; 1,386, wdth capital of $91,052,000, reorganizations of
state and private banks; and 2,519, with capital of $143,795,500, primary organizations. The aggregate capital of the converted and
reorganized state and private banks equaled, approximately, the
capital of the banks of primary organization.
On June 30, 1910, there were in existence 7,170 national banking
associations, with authorized capital bf $1,000,070,135. During the
life of the system 456 banks were organized under the act of 1863,
6,430 under the act of 1864, 10 under the act of 1870, and the remainder, 2,907, under the act of 1900, making 9,803 banks chartered under
these various acts.
Including with the 515 banks for which receivers were appointed
the number subsequently restored to solvency and permitted to resume
business or liquidate, receiverships equal 5.2 per cent of the total
number of national banks chartered. The percentage of voluntary
liquidations is 21.8, and the banks in active operation represent 73.1
per cent of the total number chartered.
Comparing conditions on March 14, 1900, with those on June 30,
1910, it appears that there has been a net increase in the number of
banks in operation of 3,553, and in authorized capital of $383,762,040.
The outstanding circulation of the banks increased during this period
48
REPORT ON T H E FINANCES.
from $254,402,730 to $713,430,733, or an increase of $459,028,003.
Circulation secured by bonds and by lawrful money (the latter deposited by banks going into voluntary liquidation, those reducing their
circulation, and on account of insolvent national banks) reached the
maximum on April 30, 1910, when it amounted to $713,461,586, but
the maximum outstanding on the security of bonds alone was reached
on June 30, 1910, when it amounted to $685,517,013. During the
current fiscal year, the bond-secured circulation increased $25,843,605,
or from $659,673,408 to $685, 517,013. At the clbse of business on
June 30 last the amount of circulation secured by deposits of lawful
money was less by $2,332,946 than at the close of the prior year, the
result being a net increase during the year of circulation secured by
bonds and by lawful money of $23,510,659.
The number and capital of nationalbanks organized since March 14,
1900, by states and geographical divisions, together with the number
and paid-in capital stock of national banks on June 30, 1910, appear
in the table following:
STJMMARY, B Y STATES, GEOGRAPHICAL D I V I S I O N S , AND CLASSES, OF NATIONAL B A N K S
ORGANIZED PROM MARCH 14, 1900, TO J U N E 30, 1910, AND THE P A I D - I N CAPITAL
STOCK OP ALL REPORTING NATIONAL B A N K S ON J U N E 30,
1910.
Capital $25,000.
s t a t e s , etc.
No.
Maine
New Hampsliire
Vermont
Massachusetts .
R h o d e Island
Connecticut.
New
England
states
NewYork
N e w Jersey
Pennsylvania
Delaware
Maryland
District of C o l u m b i a . .
Eastern States..
Virginia
W e s t Virginia
N o r t h Carolina
S o u t h Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas .
Kentucky
Tennessee
Southern States.
Capital.
3
4
5
1
$75,000
100,000
125,000
25,000
4
425,000
No.
Capital.
100,000
17
Capital over
S25,000 a n d
less t h a n
$50,000.
1
$30,000
1
30,000
9
83 2,075,000
7
50 1,250,000
213 5,325,000 , 24
3
6
150,000
5
30
750,000
287,500
210,000
807,000
95,000
172,000
382 9,550,000
48 1,571,500
47 1,175,000
800,000
32
525,000
21
225,000
9
625,000
25
150,000
6
725,000
29
150,000
6
275,000
11
211 5,275,000
19
475,000
50 1,250,000
29
725,000
9
10
4
495 12,375,000
321,000
355,000
130,000
570,000
17
125,000
4
304,500
10
60,000
2
30,000
1
80 2,541,000
30,000
I
230,000
7
150,000
5
150 4,846,500
Capital $50,000
a n d over.
No.
Capital.
7
2
1
18
1
4
$385,000
200,000
100,000
4,350,000
500,000
200,000
33
5,735,000
85 16,370,000
38 3,160,000
215 23,430,000
13
4
1,480,666
1,250,000
355 45,690,000
T o t a l organizations.
No.
Capital.
National banks
reporting J u n e
30,1910.
No.
Capital
paid in.
10
7
6
19
1
8
$460,000
330,000
225,000
4,375,000
500,000
300,000
72 $8,290,751
58 5,460,000
50 5,160,000
192 54,367,500
22 6,700,250
79 19,914,200
61
6,190,000
473 99,892,701
177 18,732,500
95 4,620,000
452 29,562,000
245,000
9
48 2,402,000
4 1,250,000
447 167,712,390
193 21,534,500
816 115,249,693
28 2,373,985
108 18,449,260
12 6,052,000
785 56,811,500 1,604 331,371,728
93 5,131,000 125 14,286,480
9,062,965
80 4,320,000
7,785,000
52 3,265,000
4,985,000
27 2,210,000
39 13,185,000
91 5,845,000
32 4,225,000 113 5,710,000
71 3,704,500
8,680,000
27 2,025,000
3,480,000
29 3,515,000
32 8,045,000
420 21,266,000
43,561,000
31
42 2,325,000 516 4,155,000
89 6,550,000 . 45 17,579,950
65 4,260,000 149 11,717,500
99
473 51,420,000 1,118 68,641,500 1,448 152,232,895
37 3,635,000
38 3,165,000
27 2,610,000
18 1,985,000
49 4,650,000
22 3,950,000
32 2,675,000
19 1,815,000
17 3,210,000
129 13,450,000
22 1,820,000
32 5,070,000
31 3,385,000
rs
tl
49
SECRETARY OF T H E TREASURY.
SUMMARY, B Y STATES, GEOGRAPHICAL DIVISIONS, AND CLASSES, OP NATIONAL B A N K S
ORGANIZED, ETC.—Continued.
Capital $25,000.
States, etc.
'
No.
700 17,650,000
Middle Western
States
17 $598,000
15 483,000
17 588,500
4 130,000
4 125,000
15 471,000
19 630,000
13 420,000
104 3,445,500
121
65
. 99
90
21
11
47
23
260
Western States..
Washington
Oregon
California
Idaho
Utah
Nevada
Arizona
Alaska
Pacific States...
Hawaii '.
Porto Rico
Island possessions
3,025,000
1,625,000
2,475,000
2,250,000
• 525,000
275,000
1.175,000
575,000
6,500,000
737 18,425,000
7
3
17
8
4
215,000
90,000
595,000
290,000
130,000
11
4
20
36i,666
125,000
675,000
74 2,481,000
33 825,000
31 775,000
75 1,875,000
27 675,000
150,000
6
75,000
3
100,000
4
2
1
4
3
1
70,000
26,000
130,000
95,000
30,000
1
30,000
179 4,475,000
12
381,000
2
50,000
2
50,000
UnitedStates.... 2,518 62,950,000
Capital.
National banks
reporting June
30,1910.
Total organizations.
Capital $50,000
and over.
Capital. No.
No.
106 $2,650,000
90 2,250,000
151 3,775,000
12 300,000
35 875,000
173 4,325,000
107 2,675,000
32 800,000
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
New Mexico
Oklahoma
Capital.
Capital over
$25,000 and
less than
$50,000.
Capital.
No.
84 $11,975,000
64 7,000,000
81 13,325,000
25 4,740,000
28 3,350,000
29 4,500,000
57 3,420,000
37 12,485,000
Capital
paid in.
No.
207 $15,223,000
169 9,733,000
249 17,688,500
41 6,170,000
67 4,350,000
217 9,296,000
183 6,725,000
82 13,705,000
378 $61,910,600
261 27,885,600
431 68,205,000
101 15,186,600
130 16,435,000
270 22,731,000
325 20,865,000
129 35,205,000
405 60,795,000 1,215 81,890,500 2,025 268,413,700
9
12
31
30
13
11
34
10
46
.
600,000 137
600,000 80
2,286,000 147
2,300,000 128
1,160,000 38
625,000 22
2,700,000 92
575,000 37
3,405,000 326
3,740,000
2,315,000
5,355,000
4,840,000
1,815,000
900,000
4,236,000
1,275,000
10,680,000
150
98
232
207
54
30
121
41
225
5,247,600
3,865,000
16,200,000
12,147,500
4,625,000
1,710,000
9,964,700
2,070,000
10,416,000
196 14,150,000 1,007 36,056,000 1,158 65,234,700
28
20
87
12
5
9
5
1
3,245,000
1,435,000
22,087,800
710,000
1,025,000
1,225,000
250,000
50,000
167 30,027.800
2
I
550,000 .
100,000
3
650,000
63
62
166
42
12
12
10
1
4,140,000
2,236,000
24,092,800
" 1,480,000
1,205,000
1,300,000
380,000
50,000
358 34,883,800
4
1
5
78
74
185
47
21
12
13
2
11,426,000
7,036,000
44,914,350
2,608,950
2,780,000
1,867,000
980,000
100,000
432 71,711,300
600,000
100,000
4
I
610,000
IOO,000
700,000
6
710,000
389 12,755,500 1,632 208,467,800 4,539 284,173,300 7,I45J989,567,024
The number and capital of state banks converted, reorganized
banks, and banks of primary organization since March 14, 1900, classified by capital stock, are shown in the following table:
SUMMARY, B Y CLASSES, OF NATIONAL B A N K S ORGANIZED FROM MARCH 14,
TO J U N E 30, 1910.
Conversions.
Reorganization.
Primary organization.
1900,
Total.
Classification.
No.
Capital less than $50,000
Capital $50,000 or over
Total
Capital.
375 $9,893,000
259 39,432,800
634
65872°—FI 1910-
No.
Capital.
No.
Capital.
No.
Capital.
872 $23,127,000 1,660 $42,685,600 2,907
859 101,110,000 1,632
514 67,925,000
$75,705,600
208,467,800
91,052,000 2,519 143,796,600 4,539
284,173,300
49,325,800 1,386
50
REPORT ON T H E FINANCES.
The number of banks and the bond and circulation accounts on
March 14,1900, and June 30,1910, together with the increase between
those periods, are shown in the accompanying table:
Increase 1900 Increase 1909
Mar. 14,1900. June 30,1909. [June 30,1910.
to 1910.
to 1910.
Number of banks
Authorized capital
Bonds on deposit
Circulation on bonds
Circulation, lawful money
Total circulation
3,617
$616,308,095
$244,611,570
$216,374,795
$38,027,935
$254,402,730
6,955
7,170
3,553
$947,726,776 $1,000,070,135 $383,762,040
$660,689,070 $686,974,880 $442,363,310
$659,673,408 $685,517,013 $469,142,218
$30,246,666
$27,913,720 a$10,114,216
$689,920,074 $713,430,733 $459,028,003
215
$52,343,360
$26,286,810
$25,843,605
o$2,332,946
$23,610,659
o Decrease.
I n connection with the statistics hereinbefore submitted in relation
to the organization, capital, and circulation of national banks since
1900, it is of interest to note the increase in the banking business generally, as evidenced by the reports of condition on February 13, 1900,
the date of the call immediately preceding the legislation authorizing
the incorporation of banks with a minimum capital of $25,000, etc.,
and on June 30, 1910. The total assets of the banks increased during
this period from $4,674,910,713.09 to. $9,896,624,696.73; the loans
from $2,481,579,945.35 to $5,430,159,186.75; paid-in capital stock
from $613,084,465 to $989,567,114; the outstanding circulation from
$204,912,546 to $675,632,565; and the volume of individual deposits
from $2,481,847,035.62 to $5,287,216,312.20.
Comparing the returns of June 23, 1909, with those received for
June 30, 1910, there was an increase in the number of reporting banks
of 219; in loans and discounts, $394,275,670.16. Investments in
United States bonds increased to t h e e x t e n t o f $7,879,820. These
increases in assets were attended with an increase in capi^^al stock of
$52,563,078; surplus and other profits of $54,332,774.04; circulation
of $34,320,283; and in individual deposits of $388,639,616. The net
increase 'in assets of the banks during the year is shown to have been
$424,892,033.37.
MINT SERVICE.
Deposits.
During the fiscal year ended June 30, 1910, the original deposits
at the mints and assay offices contained 6,803,778 ounces of standard
gold, of the value of $126,767,970. Uncurrent domestic gold coin
deposited for recoinage contained 193,669 standard ounces, the coining value of which was $3,603,140 in new coin. The original deposits
of silver contained 5,083,492 standard ounces, of which 2,551,151
were deposited for return inline bars, the remainder being purchased
in gold bullion. Uncurrent United States silver coin containing
609,802 standard ounces, having a value in new coin of $758,696, was
transferred from subtreasuries for recoinage.
SECRETARY OF T H E TREASURY.
51
Coinage.
During the fiscal year 1910 the domestic coinage manufactured by
the mints at Philadelphia, San Francisco, and Denver aggregated
188,006,668 pieces, of the value of $54,215,319. Of this amount,
$47,578,875 was gold and $4,297,567 silver. The coinage of the
5-cent nickel pieces amounted to $852,781.90 and the 1-cent bronze
pieces amounted to $1,486,095.29, making a total of minor coinage
$2,338,877.19, all of which has been duly accounted for, and the
balance, after paying the expense of distribution, turned into the
Treasury. The expense of distributing the minor coinage during the
year was $21,969.16, which amount was paid from the profits on
such coinage.
No coinage wa-s executed in the mint at New Orleans during the
fiscal year 1910.
The mint at San Francisco coined for the government of the Philippine Islands during the fiscal year 1910, 7,574,758 pieces, consisting
of 5,430,778.90 pesos in silver and 15,000 pesos in bronze 1-cent
pieces.
There were manufactured in subsidiary silver coin during the year
$76,836.50, resulting from bullion from the melting of uncurrent coin
transferred for recoinage, and $4,220,730.75 were from bullion purchased under the provisions of section 3526, Kevised Statutes.
Profits on suhsidiary silver and minor coins.
The profits on the manufacture of subsidiary silver cbin from purchased bullion during the year was $2,468,685.09, and on the minor
coinage $1,875,505.38, all of which has been duly accounted for and
paid into the Treasury.
Annual settlements.
The annual settlements made at the close of the fiscal year at the
mints in Philadelphia, San Francisco, New Orleans, and Denver were
satisfactory. The bullion and coin on hand in each of these institutions were weighed and counted, and the balances called for by the
books found to be on hand. Owing to a contemplated change in the
superintendency of the assay office at New York, the annual settlement of that institution was not made until July 31, 1910, when the
bullion and coin on hand were weighed and counted and found to be
correct.
Purchases.
Under the provisions of section 3526, Revised Statutes, there were
purchased for the subsidiary silver coin during the year 2,336,256.76
fine ounces of silver at a cost of $1,269,649.10, making the average
price paid $0,543 per ounce. The purchases consisted bf silver coii
52
REPORT ON TPIE F I N A N C E S .
tained in gold deposits, mutilated silver coin, bar charges and fractibns, and surplus bullion recovered by the operative officers. The
total amount of silver purchased for the subsidiary silver coinage
from July 1, 1906, to June 30, 1910, was 37,456,074.66 fine ounces,
costing $22,527,804.01, making the average price paid $0,601. The
balance of silver bullion on hand at the mints available for subsidiary
silver coinage June 30, 1910, was 5,134,973.50 fine ounces, the coining
value in subsidiary silver coin being $7,098,632.80.
New Yorlc assay office.
The operations of the New York assayvoffice are the same as those
of the mints, with the exception that no coinage is executed. I t is
expected the new building, for the refinery of the assay office at New
York will be completed about the 1st of January, 1911, when the
necessary machinery and appliances will be installed and parting and
refining operations resumed. I t will then be unnecessary to transport crude bullion to the mint at Philadelphia for refining, as is done
at present.
Minor assay offices.
There are eight minor assay offices at which gold bullion is deposited ahd paid for as soon as the value is determined by melt and
assay. The bullion is afterwards shipped by express to.one of the
coinage mints to be parted and refined and coined. The value of
the gold deposits at the minor assay offices during the fiscal year
1910 amounted to $18,629,287.19. The cost of maintaining these
offices during the fiscal year (exclusive of transportation charges on
bullion to the mints, which amounted to $35,438.37) was $123,767.45,
while the earnings were $37,980.51.
Earnings a^nd expenditures.
The earnings and gains of the mint service during the fiscal year
1910 were as follows:
Charges for parting and refining
Charges for alloy
Charges for assaying and stamping
Seigniorage on minor coinage
Seigniorage on subsidiary coinage
Seigniorage on recoinage of minor coins
Profits on medals and proof coins
Charges received for mounting, etc., medal fund account
Charges for the manufacture of medals, etc
Deposit melting room grains and sweepings
Surplus bullion recovered by operative officers
Gain on bullion shipped to mints for coinage
P r o c e e d s of s a l e of o l d mat91'i?\?l . , . r r r r . , r T , r r r . . . r r . - . r - - , - t , . . r • T r r r
$242, 249. 91
14, 812. 62
23,135. 89
1, 914, 747. 88
2,468, 685. 09
2, 498. 35
3,069. 99
249. 63
1,979. 79
26,006.88
40, 797. 53
4, 584. 98
3, 112. 4 9
SECRETARY OF THE TREASURY.
Receipts from special assays of bullion ore
Receipts for manufacturing appliances for government and other institutions
Charges received for coinage for Philippine government
Gain on light-weight United States gold coin for recoinage
Bullion recovered from cleaning refinery pipes
Charges for treatment of deposit melting room sweeps
Receipts from sale of by-products
Charges for the manufacture of proof gold and silver
Amount received in excess of assay value of melter and refiner's sweeps
sold
:
Amount recovered on account of embezzlement
Total earnings and gains
53
$3, 434. 22
14,142. 48
60, 836. 81
220. 26
1, 088. 45
807. 88
41, 836. 82
98. 00
. 457. 82
818. 77
4, 869, 672. 54
The expenditures were as follows:
Salaries of officers and clerks
$225, 827. 67
Wages of workmen and adjusters
788, 886.19
Contingent expenses, less amount paid to reimburse wastage and loss on
sweeps sold
161,031.44
Parting and refining expenses, less amount paid to reimburse wastage and
loss on sweeps sold
240, 936. 08
Wastage of operative departments
7, 273.. 57
Loss on sweeps sold during the year
4, 912. 75
Expenses of distributing minor coins
20, 249. 43
Expenses of medal fund (charges paid, mounting, etc.)
249. 63
Loss on recoinage of minor coin
14, 028. 54
Loss on bullion shipped to mints for coinage
76. 09
Total expenditures and loss.
1,463, 471. 39
Annual assay commission.
The commission designated by the President under the provisions
of section 3547, Revised Statutes, to test the weight and fineness of
the coins reserved at the different mints during the calendar year
1909 met at Philadelphia February 9, 1910, and reported that the
coins examined complied with the law as to weight and fineness.
INTERNAL REVENUE.
The receipts from internal-revenue taxes for the fiscal year 1910,
as shown by collectors^ reports, were $289,957,220.16, a net total increase of $43,744,500.94 over the preceding fiscal year. This increase
was from distilled spirits, tobacco, fermented liquors, oleomargarine,
filled cheese, mixed flour, banks, bankers, miscellaneous, and special
excise tax on corporations, as follows: Distilled spirits, $13,161,277.42;
tobacco, $6,231,278.99; fermented liquors, $3,115,877.12; oleomargarine, $197,305.53; filled cheese, $904.72; mixed flour, $433.26; banks,
bankers, etc., $174.85; miscellaneous, $79,175.33; special excise tax on
corporations, $20,959,783.74.
54
REPORT ON TitlE FINANCES.
The total expenditures for the collection of the internal revenue,
including expenses of the Internal Revenue Bureau in Washington,
for the fiscal year 1910, were $5,044,502.60. This does not include
expenditures from the appropriation for '^Withdrawal of denaturalized alcohol,'' which were $131,048.25.
The cost of collecting $1 of internal revenue was $0.0174.
The following table is a comparative statement of receipts during
the last two fiscal years. A more detailed statement will be found
in the Annual Report of the Commissioner of Internal Revenue:
R E C E I P T S PROM
INTERNAL
R E V E N U E I N 1909 AND 1910,
LECTORS' R E P O R T S .
AS SHOWN B Y COL-
Fiscal year endedIncrease.
June 30,1909.
Distilled spirits
Manufactured tobacco
Fermented liquors
Corporation tax
Oleomargarine.
Filled cheese
Mixed flour
Adulterated butter
Process or renovated butter.
Banks, bankers, etc
Miscellaneous
Total.
S134,868,034.12 $148,029,311.54 $13,161,277.42
51,887,178.04 0 58,118,457.03
6,231,278.99
57,456,411.42
60,572,288.54
3,115,877.12
20,959,783.74
20,959,783.74
1,099,502.84
902,197. 31
197,305.53
1,942.61
2,847.33
904. 72
2,618.04
433.26
3,051.30
• 38,450.70
37,350.70
122,164. 75
121,554.73
174. 85
174. 85
79,175.33
933,722.23 6 1,012,897.56
246,212,719.22
Decrease.
June 30,19lV
289,957,220.16
43,746,210.96
Sl,100.00
010.02
1,710.02
a Includes $265,171.80 frora sale of internal-revenue stamps affixed to Philippine products as provided
for in the act of August 5,1909.
b Includes $565,524.34 from playing-cards, $434,705.95 frora penalties, and $12,667.27 frora miscellaneous
sources.
The total production of distilled spirits, exclusive of fruit brandies,
was 156,237,526.4 taxable gallons, against 133,450,755.1 gallons in
1909, an increase of 22,786,771.3 gallons.
The production of fruit brandies increased 1,215,575.7 gallons.
During the fiscal year 1910, 906 distilleries of all kinds were operated, a decrease of 386.
The production of fermented liquors was 59,544,775 barrels, showing an increase of 3,180,415 barrels. . There were removed from
breweries for export free of tax 59,658 barrels.
BUREAU OF ENGRAVING AND PRINTING.
The amount appropriated by Congress for the Bureau of Engraving and Printing was $3,860,154.80, and the repayments for services
and materials furnished the several executive departments and
bureaus were $681,937.89, making the aggregate available for the
work of the bureau during the year $4,542,092.69. The expenditures
were $207,112.37 for salaries, $1,637,792.36 for compensation of
employees, $1,834,784.57 for wages of plate printers and assistants.
SECEETAEY 0:^ THE TEEASURY.
55
and $695,676.27 for materials and miscellaneous expenses, making
an aggregate expenditure of $4,375,365.57, and leaving unexpended
$166,727.12.
The work accomplished by the Bureau of Engraving and Printing
during the fiscal year was greater than in any preceding year, the
total number of sheets delivered being 252,710,864, or a net in
crease of 13,305,141 sheets over the deliveries of the previous year.
The deliveries comprised 58,803,600 sheets of United States notes
and certificates, 26,000 sheets of registered bonds, 14,624,582 sheets
of national-bank notes, 86,713,262 sheets of internal-revenue stamps,
345,000 sheets of customs stamps, 89,486,082 sheets of United States
postage stamps, 283,879 sheets of postage stamps and postal cards
for the Philippine Islands, 359,000 sheets of silver certificates and
registered bonds for the Philippine Islands, 2,069,459 sheets of
checks, drafts, etc., making an aggregate of 252,710,864 sheets. I n
addition to these sheets delivered, miscellaneous work was executed
to the value of $112,716.82. The face value of all classes of securities,
internal-revenue stamps, postage stamps, etc., delivered by the
bureau amounted to $1,956,000,433.
Compared with the deliveries in the previous fiscal year, there was
an increase of 13.73 per cent in United States notes and certificates
and bonds; 11.45 per cent in internal-revenue stamps; 3.24 per cent
in postage stamps, and 1.79 per cent in checks, drafts, etc., and a
decrease of 27.55 per cent in national-bank notes and 1 per cent in
customs stamps, or a net increase of 5.56 per cent. The work of the
fiscal year 1909 included, however, 13,100,961 sheets of emergency
national currency, which was an extraordinary demand, and, eliminating this work, a comparison of all the work delivered in the fiscal
year 1910 with the regular work delivered in the previous fiscal year
shows a net increase of 11.67 per cent.
By the introduction of new machinery and improved methods of
executing the work, such as the elimination of tints from internalrevenue stamps and reduction in size of those stamps, the bureau
has heartily cooperated in the efforts of the department to reduce
expenses, and has been able to show a reduction in the cost of its
work approximating $200,000 yearly.
SUPERVISING ARCHITECT.
The legislation of Congress concerning the construction of public
buildings under the control of the department is being carried into
effect by the office of the Supervising Architect, an average of ten
buildings a month being placed on the market.
The act of June 25, 1910, provided for the acquisition of 140 sites
for public buildings, the construction of 115 buildings on sites pre-
56
EEPOEl' ON TH^ I^mAKCES.
viously acquired, the purchase of 114 sites and the construction of
buildings thereon, and the extension and remodeling of 24 existing
public buildings. Preliminary steps have been taken to secure the
sites authorized, and arrangements have been made to advertise for
proposals. The acquisition of these sites will receive prompt attention.
The Supervising Architect is giving his attention to those buildings
whose limits.of cost were increased by the act of June 25, 1910, so
that the needed betterments of such buildings may be placed under
contract without delay.
During the last fiscal year the efforts to maintain the office of the
vSupervising Architect at the highest standard of efficiency have been
continued. The new quarters for that office on the fourth floor of
the Treasury building were occupied during the past winter, with a
consequent addition of the area required for the proper transaction
of its business.
The following statements show the construction and financial operations of the department with reference to public buildings under
its control during the fiscal year ended June 30, 1910:
Completed and occupied at close of preceding fiscal year, including 48 marine
hospitals and quarantine stations
Drop Jamestown Exposition buildings (sold and removed)
570
1
Completed since (including Buffalo marine hospital)
In course of erection
Not commenced
569
61
118
425
Total
1,173
In addition to the work shown by the above table, 14 extensions
have been completed and 55 extensions placed under contract. There
are 166 sites, authorized to be purchased or vested in the Government,
for which no buildings are provided.
STATEMENTS OF APPROPRIATIONS FOR PUBLIC BUILDINGS, JULY 1, 1909, TO JUNE 30,
1910.
E X P E N D I T U R E S DURING THE PISCAL YEAB.
For sites and additional land
For construction, extensions, and special repairs
For repairs and preservation
For mechanical equipment
For vaults, safes, and locks
. For plans, including books and periodicals
For electrical protection to vaults ($4,055.56, 1908)
For general expenses (administrative)
For furniture and repairs of same
For lands and other property
Total
$4,945,280.56
11,215,392.91
450,822.51
327,705.47
54,397.87
2,461.68
31,848.31
981,156.94
401,635. 62
204.35
18,410,906.22
SECEETARY OF TI-IE TEEASURY.
51
CONTRACT LIABILITIES EXISTING ON JUNE 30, 1910.
On account of sites and additional land
On account of construction, extensions, and special
repairs
$15,465, 266. 45
Less authorized contract liabilities in excess of amounts
appropriated
1, 719,370. 70
On account
On account
On account
On account
On account
On account
On account
On account
of repairs and preservation
of mechanical equipment
of vaults, safes, and locks
of plans, including books and periodicals
of electrical protection to vaults
of general expenses (administrative)
of furniture and repairs of same
of lands and other property
Total
$239, 700. 00
13, 745,895. 75 .
219, 413. 87
252,604. 50
95, 280. 28
66. 70
6,833. 50
138,465. 68
492, 200.17
15,190,460.45
BALANCES AVAILABLE JULY 1, 1910.
For sites and additional land
For construction, extensions, and special repairs
For repairs and preservation
For mechanical equipment
For vaults, safes, and locks
For plans, including books and periodicals
For electrical protection to vaults
For general expenses (administrative)
For furniture and repairs of same
For lands and other property.
Total
$479,187. 30
14,467,028. 65
603,129. ]5
429,388.42
71, 521.59
530.55
43, 505.00
823,540.58
799,164.21
395. 65
17, 717, 391.10
PUBLIC-HEALTH AND MARINE-HOSPITAL SERVICE.
The Surgeon-General reports the operations of the service through
the foUowing seven divisions of the bureau, viz: Scientific research
and sanitation, foreign and insular quarantine, domestic (interstate)
quarantine, sanitary reports and statistics, marine hospitals and
relief, personnel and accounts, and miscellaneous. Each division is
presided over by a medical officer. All officers and employees in the
outside service are wdthin the jurisdiction of one or the other ^of
these divisions, whose operations are coordinated and brought under
the direct supervision of the Surgeon-General by special bureau
regulations.
Division of scientific research.
Hygienic laboratory.—The research work has included tubercu^
losis, with special reference to the blood and transmission of the disease by milk; typhoid fever and hookworm disease, the longevity
of their causative agents and means necessary for their destruction
58
EEPOET dK THE J^INANCES.
in nature; typhus fever and its transmission by the body louse}
pellagra; infantile paralysis; cancer in the lower animals; the ''straw
mattress disease;'^ immunity; the oxydases, with reference to their
defensive action in the animal body; the infiuence of bleaching on
the nutritive value of flour; therapeutic properties of the thyroid and
suprarenal glands and their commercial preparations.
Examinations made include commercial disinfectants and embalming fluids, standards of each being recommended; pharmacopceial
preparations; and 122 samples of water from the District of Columbia
Investigations included viruses, serums, and toxins used in the
treatment of disease, and standard units were prepared for antidiphtheric and antitetanic serums.
Other transactions include the identification of the animal parasites
of man; studies of rabies and the administration of antirabic treatment to 59 persons, and transmission to state health authorities and
to the Canal Zone of material for antirabic treatment.
Digests of Comments on the Pharmacopoeia were published in
two volumes, and in all thirteen bulletins were issued. The personnel
of the laboratory numbered 52.
Through the division of scientific research, 26 establishments were
inspected preliminary to the issue of licenses for the sale of viruses,
serums, and toxins under the act of July 1, 1902. Thirteen of the
establishments are foreign. Shipments of these products from
abroad are held at ports of entry pending examination of samples.
Investigations of pellagra have been assigned to a commission of
7 scientists, 5 connected with the Hygienic Laboratory and 2 with
the Government Hospital for the Insane.
Investigations of typhoid fever and its spread have been continued
in the District of Columbia; at Omaha, Nebr.; Williamson, W. Va.,
and Chicago, 111.
By request of the Post-Office Department a thorough investigation, with report, was made on mercury-vapor illumination as
affecting vision.
A collective investigation has been made of the milk dispensaries
in the United States and tkeir utility in the prevention of infant
mortahty.
Leprosy investigation station, Hawaii.—The hospital at Molokai was
opened for patients December 23, 1909. Laboratory and statistical
studies wdll be continued, as heretofore, at the receiving station in
Honolulu. The scientific investigations have been published in 5
bulletins during the year. A noteworthy event is the successful cultivation in artificial media of the [bacillus of leprosy, the first success
being obtained by Clegg, at Manila, now assistant director of this
station. This achievement is a valuable advance in efforts to obtain
a cure and preventive.
SECEETARY OE THE TEEASUEY.
59
Division of foreign and insular quarantine.
At the 44 quarantine stations in the continental United States,
7,271 vessels, carrying 407,739 passengers and crews, were inspected,
and 331 vessels, were disinfected. Inspection has been maintained
on the Mexican border.
National quarantine has been administered at 8 ports in the Philippine Islands, 8 in Hawaii, and 8 in Porto Rico.
Inspection of emigrants at Chinese and Japanese ports has been
discontinued by request of the immigration authorities.
On account of cholera in Russia a medical officer has been on duty
throughout the year at Libau, the only Russian port from which
emigrants ship direct to the United States, and the American consular
officers at Hamburg, Bremen, Antwerp, Rotterdam, and British
ports were instructed, through the State Department, to enforce the
Treasury regulations relating to disinfection of baggage and detention
of passengers from Russia.
The title to the Mississippi River quarantine station was acquired
during the year and improvements begun. A site for a quarantine
station at Galveston has been secured and plans for construction are
being prepared.
Revised quarantine regulations have been issued, the previous
edition being that of 1903.
Medical inspection of immigrants.—During the fiscal year 1,280,957
were inspected, and 30,777 were certified for rejection on account of
physical and mental defects. The figures do not, however, include
examinations in the Phihppines or at foreign ports. The inspections
were conducted at 75 stations in the continental United States,
Porto Rico, and Hawaii.
Personal examinations were made of 1,175 aliens in institutions
throughout the United States, with a view to their deportation under
the immigration laws.
Service officers, under supervision of the Commissioner of Immigration, have conducted the large hospital for immigrants at Ellis
Island, where 8,649 patients were admitted to treatment, and also tho
hospital of the new immigrant station at Angel Island, San Francisco.
A revised ''Book of Instructions for the Medical Inspection of
Aliens ^ was issued, superseding the edition of 1903.
^
Division of domestic (interstate) quarantine.
Plague onthe Pacific coast.—During the year there was no case of
human or rat plague in San Francisco, but 115,900 rats were caught,
104,182 examined in thefederal laboratory, 66,912 premises inspected,
967 buildings made rat proof, and 8,410 nuisances abated.
60
EEPORT ON THE EliSTANCES.
In Oakland there was one case of human plague in October, 1909,
the infection being from a ground squirrel without the city. There
was no case of rat plague; 32,926. rats were caught and examined
in the laboratory, and 4,043 premises were inspected.
In Seattle there was no case of human plague; 56,184 rats were
delivered to the service laboratory and 25,435 examined, 1 rat being
found infected in February, 1910.
To prevent reinfection of San Francisco and Oakland, operations
have been conducted in a zone around these cities to clear it of ground
squirrels. Four cases of human plague from squirrels were reported
during the year.
Investigations were made in 21 counties, and in 11 counties infected
squirrels were found. In all, 118,355 squuTels were destroyed during
the fiscal year, of which number 351 were infected.
Plague among ground squirrels in Calif'Drnia is a menace to other
States. Special measures have been adopted to ascertain accurately
the extent of the infection, and, with cooperation of state and county
authorities, to destroy all ground squirrels, in infected regions and to
prevent extension of the infection.
Typhoid among lalce seamen.—Investigation is in progress of
typhoid fever araong lake seamen, to determine their influence in the
spread of this disease, and if the vessels are sources of infection.
Medical officers of the service at ports on the Great Lakes are instructed to report to the officer at Chicago all cases, with essential
facts. A like investigation was made of seamen and vessels plying
between Washington and Norfolk.
Division of sanitary reports and statistics.
Weekly Public Health Reports, in ediiions of 4,000 copies, were
issued, giving current information concerning epidemics and sanitary
conditions in the United States and foreign countries, together with
statistical tables of mortality and morbidity.
A compilation has been made of the state laws relating to morbidity statistics.
Smallpox was reported from 41 States and the District of Columbia,
with a total of 25,084 cases and 216 deaths, about the same number of
cases as last year, but more than twice the number of deaths. The
reports are not complete, some States ha^idng no adequate provision
therefor. They show, however, an undue prevalence of a disease
easily prevented.
Division of marine hospitals and relief.
In the 22 marine hospitals owned by tha Government and the 125
additional stations for relief of seamen of lihe merchant marine, there
were treated during the year 51,443 patients, 14,270 in hospitals and
SECRETARY OE T H E TREASURY.
61
37,173 at dispensaries. The new marine hospital at Pittsburg was
opened in September, 1910. At the sanatorium for consumptives at
Fort Stanton, N. Mex., 360 patients were cared for during the year.
Physical examinations, exclusive of immigrants, were made of
4,571 persons connected with the Revenue-Cutter, Life-Saving,
Steamboat-Inspection, Immigration, and Light-House services; the
Coast and Geodetic Survey, and the Philippine Service.
Division of personnel and accounts.
Personnel.—The medical corps at the close of the year consisted of
the Surgeon-General, 6 assistant surgeons-general, 34 surgeons, 66
passed assistant surgeons, and 21 assistant surgeons (128 commissioned
medical officers), and 274 acting assistant surgeons, making a total
of 402 medical officers. The total personnel of the service, including 46 pharmacists and 900 attendants, numbered 1,423.
Expenditures.—The appropriation for the ordinary maintenance
of the service was $1,266,750. The receipts from all sources, repayments for care of foreign seamen, etc., were $17,694.44; the expenditures were $1,163,484.73; estimated outstanding liabilities, $25,020.47,
leaving an estimated balance of $95,939.24.
The amount available of the appropriation for preventing the
introduction and spread of epidemic diseases at the beginning of the
fiscal year was $978,013.87. The expenditures w^ere $277,897.63,
leaving a balance June 30, 1910, of $700,116.24.
The appropriation for the maintenance of the quarantine service
was $400,000. The amount of repayments was $1,343.52. The
expenditures were $390,919.58, which, deducting outstanduig liabilities, leaves an estimated balance of $4,485.28.
The amount available of the appropriation for national quarantine
and sanitation at the beginning of the fiscal year was $325,744.08; the
expenditures were $112,095.22, exclusive of $100,000 transferred to
the books of the Supervising Architect, le'aving a balance June 30,
1910, of $113,648.86.
The appropriation for the maintenance of the leprosy investigation
station, Hawaii, was $45,000. The expenditures were $35,781.02,
which, deducting outstanding liabilities, leaves an estimated balance
of $6,196.65.
Miscellaneous division.
Physical examinations of keepers and crews of the Life-Saving
Service have been supervised and reviews made of the medical evidence submitted, with 461 claims for benefits under the act of March
4, 1882.
Service publications.—Three hundred and sixty-five thousand copies
of the various bureau publications were distributed during the fiscal
year, and a catalogue of all the service publications was issued.
62
REPORT ON T H E FINANCES.
During the year the mailing lists of the bureau were thoroughly
evised in accordance with department instructions.
LIFE-SAVING SERVICE.
During the fiscal year ended June 30, 1910, a larger number of
marine casualties occurred within the scope of the Life-Saving Service
than has been witnessed by any previous year in the history of the
establishment, a total of 1,463 vessels having been reported as
involved in disaster. Of this number, 417 were documented, and
1,046 undocumented, the last-mentioned class including gasoline
launches, sailboats, rowboats, etc. The documented vessels carried
3,648 persons, and were valued, with their cargoes, at $10,989,095.
Those of the undocumented class carried 3,013 persons, and were
valued at $891,470. Thirty-nine persons lost their lives from the
vessels of the first-mentioned class, and 14 from those of the class last
named. Forty-eight documented and 26 undocumented vessels were
totally lost. There were succored at the various life-saving stations
664 persons' involved in marine casualties, a total of one thousand
one hundred and seventy-one days' relief being afforded. The important statistics relating to the work of the service for the year are
shown in tabular form as follows, the figures presented being apportioned between the two classes of vessels referred to:
Documented
vessels.
Vessels involved
Vessels lost
Persons on board
Lives lost
Persons succored at stations
Days' succor afforded
Value of vessels
Value of cargoes
Total value of property involved
Value of property saved
Value of property lost
417
48
3,648
39
327
830
S7,866,870
S3,122,225
Sib,989,095
$9,286,260
$1,702,835
Undocumented
vessels.
1,046
26
3,013
14
337
341
§875,265
S16,205
S891,470
$764,900
$126,570
Total.
1,463
74
6,661
53
664
1,171
$8,742,135
$3,138,430
$11,880,565
$10,051,160
$1,829,405
While the number of persons involved in casualties to vessels
within the field of life-saving operations during the last fiscal year
was less than the number similarly involved during 1909, the number
of lives lost during 1910 exceeded that shown for the preceding year
by 23. This increase was occasioned by a single disaster, the wreck
of the schooner Czarina, near the entrance to Coos Bay, coast of
Oregon, January 12, 1910, when 23 men out of a crew of 24 perished
under circumstances that made rescue by any human agency impossible. But for this lamentable event the showing in the respect
under notice would have been as favorable for 1910 as it was for 1909,
which was the most gratifying in the annals of the life-saving establishment.
SECRETARY OF THE TREASURY.
63
Comment was made in the report for 1909 upon the remarkable
number of gasoline vessels included in the summary of casualty
statistics for that year, the craft of-the kind mentioned that figured
in the year's record of accidents being 41 per cent of the entire number
of vessels involved in disaster. The record for 1910 in this regard is
still more noteworthy, the 756 motor boats that suffered accident
during that period constituting nearly 52 per cent of the entire number of vessels included in the year's list of disasters. Of these boats,
106 were documented, and 650 were small undocumented launches,
such as generally frequent harbors and other sheltered waters. Those
of the first-mentioned class carried 559 persons, and those last referred
to had on board 2,188 persons, making the total number of individuals
involved in accident to power craft 2,747, or 41 per cent of the entire
number aboard vessels of all -kinds suffering casualties. That these
boats were engaged for the most part in the pursuit of pleasure rather
than in commerce is evidenced by the fact that not more than one in
seven carried cargo.
Of the 1,463 vessels included in the foregoing tabulation, 1,120,
or more than three-fourths of the entire number suffering disaster, valued with their cargoes at $4,055,070, were assisted solely by
the crews of the service; 287 vessels, valued with their cargoes at
$6,124,160, received the assistance of the station crew^s working in
conjunction with revenue-cutters, wrecking vessels, tugs, etc.; 12
vessels, valued with their cargoes at $215,110, were assisted by private
agencies only; while 44 vessels, valued with their cargoes at $1,486,225,
had no assistance of any Idnd, having been able to get out of difficulty
without outside aid.
In addition to the work of the life-saving crews set forth in the
preceding paragraph, assistance of more or less importance was
afforded by them to 135 documented and 322 undocumented vessels
not included in the tabular classification of disasters, making in all
1,864 vessels that received aid from the life-saving establishment.
Warnings were also given by the patrolmen and watchmen of the service to 243 vessels running into danger. The number of lives and
the amount of property thus saved can not of course be stated. I t
may be mentioned, however, that 224 of the warnings were given at
night, and that 142 of the vessels warned were steamers.
Besides what was accomplished by the- service crews as salvors of
life and property from shipwreck, they also performed considerable
miscellaneous work in the neighborhoods of their stations, chiefly
humanitarian in character. In the several classifications of service
under this head are reported the rescue of 137 persons who had fallen
from docks, piers, etc., or who were otherwise involved in situations
of danger; the giving of medical and surgical attention to 60 persons
who were sick or injured, and the succoring of 176 persons for periods
64
REPORT ON T H E FINANCES.
aggregating one hundred and ninety-five days; effective assistance
at neighborhood fires involving 57 private dwellings, business structures, etc.; and the recovery in 82 instances of public and private
property consisting of buoys, nets, mired teams, and automobiles,
strayed domestic animals, etc.
The net expenditure for the maintenance of the service during the
year was $2,249,375.68.
The number of life-saving stations embraced within the estabhshment at the close of the year was 281, distributed as follows: 201 on
the Atlantic and Gulf coasts, 61 on the coasts of the Great Lakes,
and 19 on the Pacific coast. No additional stations were put in commission during the year, that mentioned in last year's report as
being under construction at Lorain, Ohio, at the mouth of the Black
River, being still incomplete. The station at the Isles of Shoals, off
Postsmouth, N. H., for the construction of which contract was
entered into last year, will soon be ready for occupancy. Proposals
have been in^dted for the construction of the stations authorized to be
estabhshed at Green Hill, R. I., and at Eagle Harbor, Mich. The
construction of a new station to replace the one destroyed at Galveston, Tex., in the great flood of 1900 is progressing satisfactorily,
as is alsp work upon new structures to replace the Kitty Hawk and
Chicamacomico stations, coast of North Carolina, w^hich are old and
no longer adequate to the needs of the service. Extensive repairs
and improvements were made during the year to the stations at Old
Harbor, Mass., Cleveland, Ohio, Manistee, Mich., and Kenosha, Wis.,
and minor improvements to various other stations.
The use of power propulsion in the self-righting and self-bailing
lifeboats and in some of the surfboats of the service during the year
has fully justified the high opinion expressed in the last annual report
regarding the increased efficiency they have effected in hfe-saving
endeavor. During the year 4 new 36-foot self-righting and selfbaihng lifeboats, 15 new open surfboats, and 6 new self-baihng surfboats were put in service, those of the first-mentioned kind being
equipped w i t h 35 to 40 horsepower gasoline engines, a n d ' t h e surfboats with engines of 8 horsepower. Motors of 35 to 40 horsepower
were also installed in 3 of the 34-foot self-righting and self-baihng
lifeboats, and of 8 horsepower in 2 of the open surfboats already in
use at the stations, maldng -a total of 30 power boats that were added
to the station equipment. Contract was also entered into during
the year for the construction of 10 36-foot power lifeboats, and 20
self-bailing power surfboats. Several of these have been completed
and others are nearing completion.
I t is gratifying to note that the bill " t o promote the efficiency of
the Life-Saving Service," providing for the retirement of the men of
SECRETARY OF THE TREASURY,
65
the service incapacitated for duty, and for other benefits similar to
those afforded to men engaged in hazardous employment in other
branches of the pubhc service, passed the Senate during the last
session of Congress. The provisions of-the bill are acceptable to
those whom it is proposed to benefit, and its enactment into law
^woul4 beyond question permanently place the service upon the
highest plane .of efficiency by enabling the enlistment and retention
of the most dapable men to be found for its station crews. The
measure has the unqualified approval of the department, and the
hope is entertained that the action of the Senate may early in the
approaching session receive the concurrence of the House.
REVENUE-CUTTER SERVICE.
The following is a summary of the regular work of the RevenueCutter Service during the fiscal year 1910:
Lives saved (actually rescued) from drowning
25
Persons on board vessels assisted
1, 801
Persons in distress taken on board and cared for
365
Vessels assisted
156
Vessels boarded and papers examined
18, 799
Vessels seized or reported for violation of law
647
Fines and penalties incurred by vessels reported
$160, 569
Value of vessels assisted and their cargoes
|10, 247, 535
Derelicts and obstructions to navigation removed or destroyed
28
Net expenditure:
Appropriation for maintenance of the service, including appropriation for special repairs
|2, 563, 000
Estimated unexpended balance
|9, 761. 96
The duties of the service have been actively performed on all parts
of the seacoast of the United States, both on the Atlantic a'nd the
Pacific oceans, and have extended, as usual, to the Great Lakes,
Alaska, Porto Rico, and Hawaii. The cutters have continued their
work in Bering Sea and other northern waters for the protection of the
fur seals and the fisheries. On July 9, 1909, the Japanese schooner
Tenyu Maru was seized for illegal sealing within territorial limits,
and on June 28, 1910, the schooner Tolcai Maru was taken into custody at Kalekta Bay for fishing in American waters in violation of
the act of June 14, 1906. The sailing master and navigator of the
Japanese schooner Koyei Maru, who proved to be a naturalized citizen of the United States, was arrested for unlawful sealing and was
subsequently tried and convicted of the offense.
In the month of January, 1910, the cutter Thetis, with headquarters at Honolulu, proceeded to various islands of the Hawaiian
group, which had been set apart by executive order as a reserve
and breeding ground for native birds, for the purpose of breaking
up reported depredations at those places by alien plumage hunters,
65872°—Fl 1910
5
66
REPORT ON T H E FINANCES.
The Thetis arrested on Laysan and Lisiansky islands 23 Japanese
subjects engaged in the illicit kiUing of birds, and seized plumage
in their possession valued at $112,470.
Timely and valuable assistance was rendered to the natives of
northern Alaska and to the government interests in that territory
by the vessels of the service which made cruises into the Arctic
Ocean.
There have been in commission during the year 26 cruising cutters,
and 18 harbor vessels and launches which have performed boarding
and other duties at the principal seaports. The regulations for the
movements of vessels in the St. Marys River, prior to and after their
passage through the locks of the canal at Sault Ste. Marie, and the
enforcement of the anchorage laws at New York and Chicago have
been strictly maintained.
Twelve officers have, under authority of the law on the subject,
been attached to duty in connection with the Life-Saving Service.
Effective aid has been rendered to merchant vessels wherever
found in distress. During the winter, which was severe, the service
was particularly alert in carrying out the requirements of the law
and regulations covering this important duty. The value of marine
property assisted was considerable and the number of vessels to
which timely relief was afforded was as large as that of the previous
year. The Tahoma, in the midst of the winter (February 9, 1910),
on short notice, sailed from Port Townsend for the Aleutian Islands,
Alaska, a distance of 1,300 miles, and succeeded in rescuing 5 sailors
who had been cast away from the wrecked steamer Farallon a month
previously. They were found at the village of Afognak, and had
suffered great hardships. The Bear, in October, 1909, conveyed from
Nome to Seattle 136 destitute people. At the opening of navigation
in Bering Sea the same year the Thetis picked up and saved the
British steamer Puritan, which had stove her bow and lost. the
blades of her propeller in endeavoring to make her way through the
ice fields. She was towed into Nome by the cutter. The value of
the vessel and her cargo, as given by the charterer, was $225,000.
Twenty-eight dangerous derelicts and obstructions to navigation,
some of which were very difficult to handle, were removed from the
paths of commerce by vessels of the service. Two of these, the fourmasted schooner Asbury Fountain and the three-masted schooner
Sadie C. Sumner, were found at sea abandoned, and were towed to Norfolk, Va., the first named by the Onondaga and Mohawlc, the other by
the Seneca, and delivered to the ovmers. They were valued with
their cargoes of lumber at $102,000. I t required six days of persevering and arduous effort to get the Sadie C. Sumner into port.
Notwithstanding the many and diverse duties of the RevenueCutter Service, strict attention is paid to keeping up efficiently its
SECRETARY OF THE TREASURY.
67
military organization and discipline. Naval drills and target practice with rapid-fire guns and small arms are conducted regularly.
Vessels.
Recommendation is renewed that the Woodbury, which is obsolete
and unsuited to the proper performance of duties on the Maine coast,
where she is stationed, be replaced as soon as practicable by a modern,
well-equipped vessel. The Manhattan, at New York, engaged in
enforcing the anchorage regulations which apply to the North and
East rivers and the Kill van Kull, should also be replaced by a better
vessel. A boarding vessel for Chicago is again urged on account of
the great commercial and shipping interests of that port.
Control of regattas.
Attention is again called to ^ the need of modifying the law in
regard to patrolling the courses of regattas and marine parades, if
the Revenue-Cutter Service is to continue to enforce regulations to
promote the safety of life on those occasions. There is no reason
why the control of regattas should not be directly under the jurisdiction of this service, leaving it only to the Department of Commerce and Labor to exact the penalties for violation of the navigation laws as circumstances may require. Under present conditions
that department now prescribes regulations directing the movements
of revenue cutters at such events, which, not being deemed in accordance with the intent of the law, this department of course can not
recognize. Regulations for the purpose of carrying out the provisions of the law governing the patrol of the course of a yacht or
boat race should be made by those who do the work, who are thoroughly familiar with it, and who must necessarily be governed at
such times by the character of the race, the existing conditions, and
the numerical strength both of the contestants and the patrol vessels. Directions for the guidance of revenue cutters on these occasions can not properly be formulated and issued by an office that
presumably knows little or nothing of the actual exigencies attending such contests.
Service station at Dutch Harbor or Unalaslca.
Owing to the fact that Dutch Harbor and Unalaska have been
the base of operations of the Revenue-Cutter Service in northern
waters for many years past, and are likely to continue to be for time
to come, it is desirable that a permanent station be established at
one of those places for the use of the service. This would provide
facilities which w^ould enable the service to do the best work in connection with the growth of Alaska, such as the enforcement of law
68
REPORT ON T H E FINANCES.
and order in remote places in that territory, the supervision of and
assistance to a constantly increasing commerce, the preservation of
the fur seals, other fisheries aiid game, and the prevention of ihegal
acts by the crews of foreign vessels. Dutch Harbor would be the
better location for this purpose, but if the Government could not
acquire at reasonable cost the site at that place now owned and occupied by the North American Commercial Company, consisting of
about 40 acres, with wharf, storehouses, and other buildings, a reservation could be had at Unalaska, about 1 mile to the southward,
and various buildings now there repaired and put in proper condition for use. The commanding officer of the Bering Sea fleet the
past season strongly recommends one of these courses, and states
that the station could probably be maintained on the saving effected
in the matter of fuel for the ships, as coal could then be purchased
and stored by the service.
DIVISION OF LOANS AND
CURRENCY.
There were no changes in the amount of the interest-bearing debt
during the fiscal year ended June 30, 1910, as shown by the following statement:
Amount outstanding J u n e 30, 1909
Amount outstanding J u n e 30, 1910
'.
$913,317,490
913, 317, 490
The changes in the amounts of the several kinds of money in the
United States outside the Treasury between November 1, 1909,
and November 1, 1910, are shown in the following table:
COMPARATIVE STATEMENT SHOWING THE CHANGES IN CIRCULATION.
I a circulation
Nov. 1,1909.
Gold coin
..
Standard silver dollars
Subsidiary silver
Gold certificates
Silver certificates
Treasury notes, act of July 14,1890
United States notes
National-bank notes '.
Total
In circulation
Nov. 1,1910.
S598,773,175
74,383,857
142,324,038
795,205,489
481,794,889
4,021,535
342,179,962
685,996,112
S594,934,945
75,058,279
139,151,279
836,800,169
483,376,411
3,510,558
341,184,452
706,068,406
$3,838,230
3,124,679,057
Classes.
3,180,084,499
8,517,476
Net increase
Decrease.
3,172,759
510,977
995,510
Increase.
$674,422
41,594,680
1,581,522
20,072,294
63,922,918
55,405,442
DIVISION OF PUBLIC MONEYS.
The monetary operations of the Government have been conducted
through the Treasurer of the United States, nine subtreasury officers?
the treasury of the Philippine Islands, the American Colonial Bank
of Porto Rico, the Banco de la Habana, the National Bank of Cuba,
and 1,378 national-bank depositaries.
SECRETARY OF THE TREASURY.
69
The amount of public moneys held by the bank depositaries on
June 30, 1910, including funds to the credit of the Treasurer's general
account and United States disbursing officers, was $52,209,585.73, a
decrease since June 30, 1909, of $19,453,215.55. On June 30, 1910,
there were 414 regular depositaries and 964 temporary depositaries;
6 were designated during the fiscal year and 42 discontinued. On
November 1, 1910, the number of depositaries was 1,372 and the
amount of public moneys held by them was $47,836,600.47.
DIVISION OF BOOKKEEPING AND WARRANTS.
The fiscal transactions of the year ended June 30, 1910, recorded in
this division show results as follows:
The books of this division have carried open appropriation accounts
during the year to the number of 6,000, which have been charged and
credited with all warrant entries affecting the disbursements.
During the year approximately 7,500 active accounts of collecting
and disbursing officers were carried in the current personal ledgers of
the division", recording their transactions as to deposits of the public
moneys and under disbursement advances.
A total of 153,762 receipt and pay warrants, aggregating
$3,304,085,196.83, was issued during the year. Of this number,
33,666 were for the receipt of moneys into the Treasury and 120,096
for disbursements from the Treasury.
Of the above sum, warrants representing $1,870,232,429.36 were
issued mainly for adjustment of naval appropriations under '^General
account of advances," and for public debt issues and redemptions not
affecting the general fund of the Treasury, the moneys involved being
held for the redemption of certificates and notes for w^hich the funds
are respectively pledged; and warrants in the amount of $1,433,852,767.47, representing receipts of $707,186,007.52 and disbursements of
$726,666,759.95, were credited and charged, respectively, to the general fund of the Treasury.
The following table exhibits the total of the receipts and disbursements for the year for the general fund, details of which are shown
elsewhere in the statements and reports of the Secretary of the
Treasury:
Receipts.
Ordinary
Panama Canal
Publicdebt . . .
.
Total
Disbursements.
$675,511,715.02 $659,705,391.08
33,911,673.37
31,674,292.50 33,049,695.50
707,186,007.62
726,666,759.95
Excess of receipts
(+) or of disbursements (—).
-f-$15,806,323.94
- 33,911,673.37
- 1,375,403.00
- 19,480,752.43
,70
REPORT ON T H E FINANCES.
Showing a surplus of ordinary receipts over ordinary disbursements
of $15,806,3^3.94, while the total of all disbursements over all receipts
was $19,480,752.43, which excess of disbursements is more than
accounted for by payments from the general fund of the Treasury
during the year of $33,911,673.37 for the Panama Canal instead of
issuing bonds therefor.
State honds and stoclcs owned hy the TJnited States.
The following statement shows the nonpaying state bonds and
stocks, formerly in the Indian- trust fund, now in the Treasury,
belonging to the United States:
Louisiana
Nortli Carolina
Tennessee
:
Total
$37,000.00
58,000.00
335, 666. 66§
430, 666. 6 6 |
A history of these state stocks and bonds is given in House Document No. 263, Fifty-fourth Congress, second session.
Territory of Hawaii.
The debt, of Hawaii, assumed by the terms of the joint resolution
of July 7, 1898, consisted of $3,235,400 in interest-bearing bonds and
$764,570.31 in postal savings deposits. This indebtedness has been
fully paid by the United States, except the sum of $2,206;85 in postal
savings, to be paid to the Territory of Hawaii under the provisions
of the act of May 19, 1908 (35 Stat., 165).
The appropriation of $1,000,000 provided by the Congress for the
liquidation in part of awards made for property destroyed in suppressing the bubonic plague in the Territory in 1899 and 1900 has
been practically expended. The First National Bank at Honolulu
reports that 24 awards, amounting to $1,730.51, are now outstanding
SECRET-SERVICE DIVISION.
The operations of the Secret Service during the year include a
number of important cases, though the record as a whole suggests a
gradual decrease of activity among the criminals who make the
imitation of currency and coins their specialty. The arrests for
violations of the counterfeiting laws numbered 316, as against 400 in
the previous year. The counterfeit notes captured show a total of
$490,000, as agamst $44,000 in 1909, but in the 1910 total there is
included one case in which notes representing nearly a million pesos
were seized. The greatest public service rendered by the division
was doubtless the suppression of a dangerous and exceedingly active
organization among the desperate class of Italians in New York.
The leaders of this enterprise were responsible not alone for most of
the counterfeiting among Italians, but directed an active black
SECRETARY OF THE TREASURY.
71
mailing campaign among their own people. It is reported by those
familiar with conditions in the metropolis that there has been a
decrease of fully 75 per cent in the so-called ^^blackhand" outrages
since the arrest and conviction of nearly two score of these men in
connection with a very extensive note-counterfeiting conspiracy
An elaborately equipped plant in Boston fitted with powerful and
expensive machinery of the highest grade, and having as its object
the manufacture of counterfeit coin from high grade silver, was one
of the prize captures of the year. A much more general cooperation
on the part of the banks through the various national and state
banking associations is reported in the effort to shorten the '4ife'' of
counterfeit notes by promptness in reporting their presentation and
discouraging the practice of returning them to depositors.
DIVISION OF PRINTING AND STATIONERY.
Printing and hinding.
The amount appropriated for printing and binding for the Treasury
Department for the fiscal year 1910 was $390,000, and of this amount
$383,780.50 was expended, as follows:
Office of the Secretary:
Secretary and Assistant Secretaries
Cliief Clerk and Superintendent
Disbursing clerks
Division of Appointments
Division of Bookkeeping .and Warrants
Division of Customs
Division of Public Moneys
Division of Printing and Stationery
Division of Loans and Currency
Division of Revenue-Cutter Service
Division of Mail and Files
. Division of Special Agents
Division of Secret Service
Actuary
:
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
Office
,
of Comptroller of the Treasury
of Comptroller of the Currency
of Auditoi: for Treasury Department
of Auditor for War Department
of Auditor for Interior Department
of Auditor for Navy Department
of Auditor for State and Other Departments
of Auditor for Post-Office Department
:
of Treasurer of United States
of Treasurer of United States (N. B. R. A.)
of Register of the Treasury
^
of Commissioner Internal Revenue
of Director of Bureau of Engraving and Printing
of Supervising Architect
$7, 811. 73
2,878. 60
229. 58
3,235. 39
12, 969.02
' 6, 641. 34
. 425.11
18,462.15
1,085. 74
2,158. 36
561.15
205. 84
262.11
102.16
:
$57,028.28
4,862. 75
27,305.45
2,761. 66
3,229. 60 '
1,576. 58
2,308. 76
1,281.53
6,866.45
12,981.19
7,423.18
4,574. 22
13,535.94
7,631.46
34,047.12
72
'
REPORT ON THE FINANCES.
Office of Director of the Mint
Office of Surgeon-General Public Health and Marine-Hospital
Service
Office of General Superintendent Life-Saving Service
Miscellaneous
Reimbursable accounts other than N. B. R. A
Treasury service outside of Washington:
Customs
Independent Treasury
National bank depositaries
Life-Saving.
Public Health and Marine-Hospital
Revenue-Cutter
Internal-Revenue
Mint and Assay
Superintendents of construction of public buildings
Custodians of public buildings
Special Treasury agents
Transportation companies
Miscellaneous
Total
$4, 273^. 44
42,727. 25
4,711. 32
2,510. 96
6,990. 53
$191,599. 39
70,127. 08
7,161. 56
2,365.18
1,4*58.48
2, 653. 36
3, 316. 54
35,155. 54
3,121. 94
220.74
1, 555. 95
83. 63
133. 43
7, 799. 40
135,152. 83
383,780. 50
,
Reimbursements
-.
- - ^ 13,163. 58
Net expenditure
370, 616.92
A net balance of
19,383. 08
A comparison of the net expenditures for 1909 and 1910 shows an
increase of $9,931.03 for 1910. This increase was caused by extra
printing for the Internal-Revenue Service on* account of the corporation tax, etc., and the general increase of business.
Stationery.
Amount appropriated for stationery for the department proper
for the fiscal year 1910 was $41,500. The expenditures on account
of this appropriation amounted to $39,231.90, which sum w^as divided
between the bureaus, offices, and divisions of the department as
follows:
Office of the Secretary:
Secretary and Assistant Secretaries
Chief Clerk and Superintendent
Disbursing Clerks
Division of Appointments
o Reimbursements itemized as follows:
National Bank Redemption Agency
General Supply Committee
Bureau of Engraving and Printing
Collector of customs, San Juan, P . R
Allowance for material from Treasury bindery
Tariff Board
Total
.
*
$704.46
586. 94
401. 39
518. 04
-
$7,423.18
4,250. feO
334.40
I2S. 91
940.48
85.76
13,163.58
SECRETARY OF THE TREASURY.
Office of the Secretary—Continued.
Division of Bookkeeping and Warrants
Division of Customs
Division of Public Moneys
.
Division of Printing and Stationery
Division of Loans and Currency.
Division of Revenue-Cutter Service
Division of Mail and Files
Division of Special Agents.
Division of Secret Service'.
Government Actuary
General Supply Committee
.-
Office of Comptroller of the Treasury . . :
Office of Comptroller of the Currency
Office of Auditor for Treasury Department
Office of Auditor for War Department
Office of Auditoi for Interior Departmenti
Office of Auditor for Navy Department
Office of Auditor for State and Other Departments
Office of Auditor for Post-Office Department
Office of Treasurer United States
Office of Register of the Treasury
Office of Commissionerof Internal Revenue
Office of Director of the Mint.
Office of Surgeon-General Public Health and Marine-Hospital
Service
Office of General Superintendent Life-Saving Service.Miscellaneous
Total
Amount expended 1909.
Decrease
73
$489. 53
481. 74
136. 49
374. 33
2, Oil. 85
290. 30
1, 232. 41
. 102. 71
83.11
9.04
31. 20
$7, 453. 54
279.16
6, 031. 99
576. 97
1, 218. 25
462. 80
667.18
297. 00
5, 956.18
7,322.76
304. 44
7,122. 50
160. 37.
1,070. 98
260. 99
46. 79
31, 778. 36
39,231. 90
43,721. 07
4,489.17
The cost for stationery furnished to the different branches of the
outside Treasury service during the fiscal year 1910 amoimted to
$77,150.85, distributed as follows:
Customs.'
,
Internal Revenue
Independent Treasury
Public Health and Marine-Hospital
Revenue-Cutter
Life-Saving
Mint
Secret Service.....
Engraving and Printing
Supervising Architect
National-Bank Redemption Agency
Custodians of public buildings
Superintendents of construction of public buildings.
National Monetary Commission.
General Supply Committee
$29,355.82
18,387.67
5,887.86
2,063.10
1,506.41
1,137.63
1,227.69
331.31
2,404.13
5,058.32
4,613.16
• 2, 579. 27
,..
1,773.29
67.85
218.42
74
REPORT ON THE FINANCES.
Tariff Board
War Department
Total
Total cost, outside service, 1909
Increase
Total expenditures, inside and outside services, 1910
Total increase of expenditure over 1909, inside and outside services
$523.70
o 15.22
77,150.85
70,552.45
6,598.40
116,382.75
2,109.23
Economy has been practiced during the year in the expenditure
of the moneys provided in the different appropriations under the
control of this division, and improvement in the conduct of business has been instituted, under special direction of the Secretary.
Attention is again called to the objectionable method of appropriating money for the purchase of stationery for this department
and to the embarrassment occasioned thereby.
The present practice, which has existed for many years, is^ to
appropriate a certain amount ($45,000 being the amount for the
present fiscal year) for the purchase of stationery for the department
proper and its several bureaus, offices, and divisions in Washington,
but in order to secure the benefits of the favorable department contract prices, the several outside Treasury services are supplied from
this appropriation by means of a repay method, by which sixteen
different appropriations reimburse the stationery appropriation, to
the amount (this year) of $77,150.85. This method is cumbersome,
dilatory, and expensive, and serves no good purpose. Under its
operation contractors' bills for supplies furnished can not be paid as
promptly as they ought to be on account of the delay experienced in
obtaining repay credits. Repay accounts are not approved by the
auditor in the absence of the receipts of consignees for supplies
furnished to them, and these receipts, in many instances, are not
received for weeks after shipment; consequently the fund from which
bills are paid is but slowly replenished.
If a lump sum were appropriated for the whole service, as is done
in the case of the printing and binding, the public business would be
simplified and improved, and previous recommendations for legislation to that end are renewed.
An occurrence last year illustrates one of the objectionable features
of the present system. A repay bill for supplies furnished to the
customs service during the year, amounting to about $1,500, could
not be paid upon rendition, owing to a deficiency in the appropriation
for that service, and its settlement is now awaiting a deficiency
appropriation. Such embarrassing happenings as this would be
avoided under a direct appropriation for the whole service.
a For packing boxes used in shipping revenue stamps to the Philippines.
TABLES ACCOMPANYING THE REPORT ON THE FINANCES.
75
TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC D E B T OF THE UNITED STATES J U N E 30,
Length of
loan.
OLD DEBT.
For detailed information in regard to the earlier loans embraced under
this head, see Finance Report for 1876.
TREASURY NOTES PRIOR TO 1846.
Acts of October 12,1837 (5 Statutes, 201); May 21, 1838 (5 Statutes, 228);
March 2,1839 (5 Statutes, 323); March 31, 1840 (5 Statutes, 370); February 15,1841 (5 Statutes, 411); January 31,1842 (5 Statutes, 469); August 31,1842 (5 Statutes, 581); and March 3, 1843 (5 Statutes, 614).
TREASURY NOTES OF 1846.
Actof July22, 1846 (9 Statutes, 39)
MEXICAN INDEMNITY.
Act of August 10, 1846 (9 Statutes, 94)
TREASURY NOTES OF 1847.
Act of January 28, 1847 (9 Statutes, 118)
TREASURY NOTES OF 1857.
Actof December 23,1857 (11 Statutes, 257)
BOUNTY-LAND SCRIP.
Actof February II, 1847 (9 Statutes, 125)
LOAN OF 1847.
Act of January 28,1847 (9 Statutes, 118)
TEXAN INDEMNITY STOCK.
Act of September 9,1850 (9 Statutes, 447)
LOAN OP 1858.
Actof June 14,1858 (llStatutes, 365)
LOAN OF FEBRUARY, I86I (I88Is).
Actof Februarys, I86I (12 Statutes, 129)
TREASURY NOTES OF I86I.
Actof March 2, I86I (12 Statutes, 178)
1
OREGON WAR DEBT.
Actof March 2,1861 (12 Statutes, 198)
a Included in old " debt."
When redeem- Rate of in- atPrice
which
terest.
able.
sold.
Ondemand.
5 and 6 per
cent.
I and 2 years 1 and 2 years ^j; of 1 to 6
per cent.
from date.
Amount
authorized.
1910.
Amountissued,
Amount outstanding.
$151,635.26
Indefinite .
Par.
$51,000,000.00
$47,002,900.00
a
I year
5 years
I year from
date.
5 years from
date.
^ of 1 to 5 | P a r .
per cent.
5 per c e n t . . . P a r .
I and 2 years 1 and 2 years 5f and 6 per
cent..
from date.
1 year
1 year
date.
from
3 to 6 per
cent.
Par.
Par.
Indefinite . . At the pleas- 6 per c e n t . . . P a r .
ure of the
Govemment.
Jan. 1,1868.... 6 p e r c e n t . . . l i to 2
20 years
per ct.
pre.
J a n . l , 1865... 5 p e r c e n t . . . Par
14 years
J a n . l , 1874...
5 percent...
10 or 20 years Dec. 31,1880..
6 per c e n t . . .
15 years
10,000,000.00
320,000.00
7,687,800.00
303,573.92
(«)'
(«)
52,778,900.*00
(a)
233,075.00
(«)
Indefinite . ..
Indefinite
>
Kl
H
W
H
W
tei
>
23,000,000.00
c28,230,350.00
950.00
10,000,000.00
5,000,000.00
20,000.00
20,000,000.00
20,000,000.00
2,000.00
(Av.)89.03| 25,000,000.00
18,415,000.00
5,000.00
Av. pre.
of 3 ^ .
H
O
23,000,000.00 &26,122,100.00
35,364,450.00
Par to Indefinite
60 days or 2
years after 6 p e r c e n t . . . I f ^ P e r
ct. pre.
date.
1,090,850.00 I
July 1,1881 . . . 6 p e r c e n t . . . Par
2,800,000.00
20 years.
c Including conversion of Treasury notes.
b Including reissues.
60 days or 2
years.
(a) .
2,300.00
2,250.00
zn
d
W
Kl
TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC.—Continued.
00
Length of
loan.
When redeemable.
Rate of interest. .
Price
atwhich
sold.
After June 30,
1881.
6 per cent.
Par.
Amount
authorized.
Amountissued. Amount outstanding.
LOAN OF JULY AND AUGUST, I86I.
The act of July 17,1861(12 Statutes, 259), authorized the issue of 20 years.
$250,000,000 bonds, with interest at not exceeding 7 per centum per
annum, redeemable after twenty years. The act of August 5,1861
(12 Statutes, 316), authorized the issue of bonds, with interest at 6 per
centum per annum, payable after twenty years from date, in exchange for 7-30 notes issued under the act of July 17,186I.
LOAN OF JULY AND AUGUST, I86I.
Continued at 3^ per cent interest, and redeemable at the pleasure of the
Government.
OLD DEMAND NOTES.
Acts of July 17,1861 (12 Statutes, 259); August 5, 1861 (12 Statutes, 313);
February 12,1862 (12 Statutes, 338).
SEVEN-THIRTIES OF 1861.
Actof July 17, 1861 (12Statutes, 259)
FIVE-TWENTIES OP 1862.
Acts of February 25,1862 (12 Statutes, 345); March 3,1864 (13 Statutes,
13), and January 28,1865 (13 Statutes, 425).
LEGAL-TENDER NOTES.
The act of Pebruary 25, 1862 (12 Statutes, 345), authorized the issue of
$150,000,000 United States notes, not bearing interest, payable to
bearer at the Treasury of the United States, and of such denominations, notless than five dollars, as the Secretary of theTreasury
might deem expedient, $50,000,000 to be applied to the redemption
of demand notes authorized by the act of July 17,186I; these notes
to be a legal tender in payment of all debts, public and private,
within the United States, except duties on imports and interest on
the public debt, and to be exchangeable for 6 per cent United
States bonds. The act of July 11, 1862 (12 Statutes, 532), authorized
an additional issue of $150,000,000, of such denominations as the Secretary of the Treasury might deem expedient, but no such note
should be for a fractional part of a dollar, and not more than
$35,000,000 of a lower denomination than five dollars; these notes to
be a legal tender as before authorized. The act of March 8, 1863
(12 Statutes, 710), authorized an additional issueof $150,000,000, of
such denominations, not less than one dollar, as the Secretary of the
Treasury might prescribe; which notes were made a legal tender
as before authorized. The same act limited the time in which the
$250,000,000.00 $189,321,350.00
$15,050.00
tei
Indefinite .. At the pleas- 3^ per cent.. P a r .
ure of the
Government.
Indefinite ., O n d e m a n d . . . N o n e .
Aug. 19 and
Oct, 1, 1864.
Par.
7 ^ per cent. Av. pre.
1,600.00
60,000,000.00 a 60,030,000.00
Indefinite . . .
139,999,750.00
9,350.00
514,771,600.00
108,250.00
Of^«T^.
5 or 20 years. May 1,1867 . .
6 per cent..
Av. pre.
of^^.
515,000,000.00
Indefinite .
None .
Par.
450,000,000.00
Ondemand.
63,282.50
346,681,016.00
O
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a
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U2
Treasury notes might be exchanged for United States bonds to July
1,1863. The amount of notes authorized by this act were to be in
lieu of $100,000,000 authorized by the resolution of January 17,1863
(12 Statutes, 822). The act of May 31,1878 (20 Statutes, 87), provides
that no more of the United States legal-tender notes shall be canceled or retired, and that when any of said notes are redeemed or
received into the Treasury under any law, from any source whatever, and shall belong to the United States, they shall notbe retired,
canceled, or destroyed, but shall be reissued and paid out again, and
kept in circulation.
'
The act of March 14,1900, provides that United States notes, when
presented t o t h e Treasury for redemption, shall be redeemed in gold
coin of the standard fixed in said act, and that in order to secure
the prompt and certain redemption of such notes it shall be the
duty of the Secretary of the Treasury .to set apart in the Treasury a
reservefund of one hundred and fifty million dollars in gold coin and
bullion, to be used for such redemption purposes only, and that
whenever and as often as any of said notes shall be redeemed from
said fund it shall be the duty of the Secretary of the Treasury to
use said notes so redeemed to restore and maintain the reserve fund
so established—first, by exchanging the notes so redeemed for any
gold coin in the general fund of the Treasury; second, by accepting
deposits of gold coin at the Treasury or at any subtreasury in exchange for such notes; third, by procuring gold coin by the use of
said notes in accordance with the provisions of section 3700 of the
Revised Statutes of the United States. The above-mentioned act
also provides that if the Secretary of the Treasury is unable to
restore and maintain the gold coin in the reserve fund by the foregoing methods, and the amount of such gold coiu and bullion in
said fund shall at any time fall below one hundred million dollars,
it shall be his duty to restore the same to the maximum sum of one
hundred and fifty million dollars by borrowing money on the credit
of the United States, and for the debt so incurred to issue and sell
coupon or registered bonds of the United States bearing interest a t
the rate of not exceeding three per centum per annum, payable
quarterly, the bonds to be payable at the pleasure of the United
States after one year from the date of their issue, and to be payable,
principal and interest, in gold coin of the present standard value,
the gold coin received from the sale of said bonds to be exchanged
for an equal amount of the notes redeenied and held for exchange,
and the Secretary of the Treasury may, in his discretion, use said
notes in exchange for gold, or to purchase or redeem any bonds of
the United States, or for any other lawful purpose the public interests may require, except that they shall not be used to meet deficiencies in the current revenues.
The act of March 4, 1907, section 2, provides that whenever and so
long as the outstanding silver certificates of the denominations of
one dollar, two dollars, and five dollars, issued under the provisions
of section seven of an act entitled " A n act to define and fix the
standard of value, to maintain the parity of all forms of m o n e y
issued or coined by the United States, to ref und the public debt, and
for other purposes," approved March fourteenth, nineteen hundred.
Ul
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a Including reissues.
eo
TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OP THE PUBLIC DEBT, ETC—Continued.
Length of
loan.
When redeemable.
Rate of in- at Price
which
terest.
sold.
Amount
authorized.
00
O
Amount issued. Amount outstanding.
LEGAL-TENDER NOTES—Continued.
shall be, in the opinion of the Secretary of the Treasury, insufficient
to meet the public demand therefor, he is hereby authorized to issue
United States notes of the denominations of one dollar, two dollars,
and five dollars, and upon the issue of United States notes of such
denominations an equal amount of United States notes of higher
denominations shall be retired and canceled: Provided, however,
That the aggregate amount of United States notes at any time outstanding shall remain as a t present fixed by law: And provided
further, That nothing in this act shall be construed as affecting the
right of any national bank to issue one-third in amount of its circulating notes of the denomination of five dollars, as now provided by
•
o
.^
Acts of February 25,1862 (12 Statutes, 346); March 17, 1862 (12 Statutes, 370); July 11,1862 (12 Statutes, 532), and June 30, 1864 (13 Statutes, 218).
o
"
TEMPORARY LOAN.
Indefinite . . After 10 days'
notice.
4, 5, and 6
per cent.
Par
$150,000,000.00 a$7I6,099,247.I6
$2,850.00
tei
CERTIFICATES OP INDEBTEDNESS.
•
Acts of March I, 1862 (12 Statutes, 352); May 17,1862 (12 Statutes, 370),
and March 3, 1863 (12 Statutes, 710).
lyear...
1 year
date.
after
6per c e n t . . . Par
No limit
561,753,241.65
^
3,000.00
FRACTIONAL CURRENCY.
Acts of July 17,1862 (12 Statutes, 592); March 3,1863 (12 Statutes, 711),
and June 30,1864 (13 Statutes, 220). •
tei
Indefinite . . On presentation.
None
Par
50,000,000 00 a368,720,079 51
6,858,822.28
LOAN OP 1863.
July 1, 1881... 6 per c e n t . . . Av. pre.
The act of March 3,1863 (12 Statutes, 709), authorized a loan of $900,000,000, 17 years
and the issue of bonds, with interest not exceeding 6 percentum per
annum, and redeemable in not less than ten nor more than forty
years, principal and interest payable in coin. The act of June 30,1864
(13 Statutes, 219), repeals the above authority, except as to the
$75,000,000 of bonds already advertised for.
Ronds of this loan continued at 3^ per cent interest, and redeemable Indefinite . . At the pleas- 3i per cent.. P a r . . . '
ure of the
at the pleasure of the Government.
Government.
>
o
J
75,000,000.00
75,000,000.00
3,100.00
100.00
Ul
ONE-YEAR NOTES OF 1863.
Iyear
I year
date.
after
5per c e n t . . . Par
400,000,000.00
44,520,000.00
30,370.00
2 years
2 years after
date.
5 per c e n t . . . Par
400,000,000.00
166,480,000.00
26,850.00
Acts of March 3, 1863 (12 Statutes, 710), and June 30, 1864 (13 Statutes,
218).
TEN-FORTIES OF 1864.
3 years
3 years from
date.
6 per cent Par
compound.
400,000,000.00
266,595,440.00
159,430.00
Acts of March 3,18641(13 Statutes, 13)
10 or 40 years Mar. I, 1874.
5 per cient... Par to 7
perct:
prem.
200,000,000.00
196,118,300.00
18,650.00
Actof MarchS, 1863 (12 Statutes, 710)
TWO-YEAR NOTES OP 1863.
Actof March 3, 1863 (12 Statutes, 710)
COMPOUND-INTEREST NOTES.
PIVE-TWENTIES OP 1864.
Act of June 30,1864 (13 Statutes, 218)
5 or 20 years. N o v . l . 1869... 6 per c e n t . . . Av. pre. 400,000,000.00
of 2 ^ ^ .
125,561,300.00
14,000.00
SEVEN-THIRTIES OP 1864 AND 1865.
Actsof June 30, 1864 (13 Statutes, 218); January 28, 1865 (13 Statutes,
425), and March 3,1865 (13 Statutes, 468).
3 years
^
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o
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[Aug. 15, 1867
-^June 15, 1868 7 ^ per cent. Av. pre. 800,000,000.00 0829,992,500.00
[July 15, 1868
of2x§f^.
120,300.00
PIVE-TWENTIES OP 1865.
Acts of March 3,1865 (13 Statutes, 468), and April 12,1866 (14 Statutes, 31). 5or 20 years. N o v . l , 1870..
^
tei
6 per c e n t . . . Av. pre. Indefinite .
of 3xm.
203,327,250.00
19,850.90
332,998,950.00
59,550.00
tei
CONSOLS OP 1865.
Acts of March 3^^1865 (13 Statutes, 468), and April 12,1866 (14 Statutes, 31). 5 or 20 years. July I, 1870... 6 p e r c e n t . . . Av. pre. Indefinite . . .
ofl^^.
CONSOLS OP 1867.
Acts of March 3,1865 (13 Statutes, 468), and April 12,1866 (14 Statutes, 31). 6 or 20 years. July I, 1872.
6 p e r c e n t . . . Av. pre. Indefinite ..
^
d
379,618,000.00
94,300.00
42,539,930.00
9,900.00
75,000,000.00 a85,I55,000.00
5,000.00
CONSOLS OP 1868.
Acts of March 3,1865 (13 Statutes, 468), and April 12,1866 (14 Statutes, 31). 6or 20 years. July 1,1873.., 6 p e r c e n t . . . Av. pre. Indefinite .
ofr^.
THREE-PER-CENT CERTIPICATES.
Acts of March 2,1867 (14 Statutes, 558), and July 25,1868 (15 Statutes, 183). Indefinite.. Ondemand.
a Including reissues.
3 per c e n t . . . Par
00
GO
TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC.—Continued.
Length of
loan.
When redeemable.
Rate of interest.
Price
at which
sold.
Amount
authorized.
Amountissued
Amount outstanding.
PUNDED LOAN OP 1881.
The act bf January 14,1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any surplus revenues from time to time in the
Treasury not otherwise appropriated, and to issue, sell, dispose of, at
not less than par, in coin, either of the description of bonds of the
United States described in the act of July 14, 1870 (16 Statutes, 272),
to the extent necessary for the redemption of fractional currency in
silver coins of the denominations of ten, twenty-five, and fifty cents
of standard value.
The act of March 3,1875 (18 Statutes, 466), directs the Secretary of the
Treasury to issue bonds of the character and description set out in
the act of July 14, 1870 (16 Statutes, 272), to James B. Eads, or his
legal representatives, in payment at par of the warrants of the Secretary of War for the construction of jetties and auxiliary works to
maintain a wide and deep channel between the South Pass of the
Mississippi River and the Gulf of Mexico, unless Congress shall have
previously provided for the payment of the same by the necessary
appropriation of money.
The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of
$200,000,000 at 5 per centum, principal and interest payable in coin
of the present standard value, at the pleasure of the United States
Government, after ten years; these bonds to be exempt from the
payment of all taxes or duties of the United States, as well as from
taxation in any form byor under state, municipal, or local authority.
Bonds and coupons payable at the Treasury of the United States.
This act not to authorize an increase of the bonded debt of the
United States, feonds to be sold at not less than par in coin, and
the proceeds to be applied to the redemption of outstanding 5-20's
or to be exchanged for said 5-20's, par for par. Payment of these
bonds, when due, to be made in order of dates and numbers, beginning with each class last dated and numbered. Interest to cease at
the end of three months from notice of intention to redeem. The act
of January 20,1871 (16 Statutes, 399), increases the amount of 5 per
cents to $500,000,000, provided the total amount of bonds issued shall
not exceed the amount originally authorized, and authorizes the
interest on any of these bonds to. be paid quarterly. .
The act of December 17,1873 (18 Statutes, 1), authorized the issue of
an equal amount of bonds of the loan of 1858, which the holders
thereof may, on or before Pebruary 1,1874, elect to exchange for the
bonds of this loan.
i
o
10 years.
May I, 1881..
5 per cent.
Par.
$517,994,150.00
$22,400.00
tei
o
tei
ZP
[.$1,500,000,000
PUNDED LOAN OP 1891. (REPUNDING.)
The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of
$300,000,000 at 4^ per centum, payable in coin of the present standard value, at the pleasure of the United States Government, after
fifteen years; these bonds to be exempt from the payment of all
taxes or duties of the United States, as well as from taxatioh in any
form by or under state, municipal, or local authority. Bonds and
coupons payable at the Treasury of the United States. This act not
to authorize an increase of the bonded debt of the United States.
Bonds to be sold at not less than par in coin, and the proceeds to be
applied to the redemption of outstanding 5-20's or to be exchanged
for said 5-20's, par for par. Payment of these bonds, when due, to
be made in order of dates and'numbers, beginning with each class
last dated and numbered. Interest to cease at the end of three
months from notice of intention to redeem.
15 years.
185,000,000.00
Sept. 1,1891... 4^ per cent..
23,750.00
zn
•tei
o
PUNDED LOAN OP 1891. (RESUMPTION.)
•tei
T h e a c t o f January 14, 1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any surplus revenues from time to time in the
Treasury not otherwise appropriated, and to issue, sell, dispose of,
at not less than par in coin, either of the descriptions of bonds of the
United States described in the act of July 14, 1870 (16 Statutes, 272),
for the purpose of redeeming, on and after January 1,1879, in coin,
at the office of the assistant treasurer of the United States in New
York, the outstanding United States legal-tender notes when presented in sums of not less than fifty dollars.
PUNDED LOAN OF 1907.
15 years.
Sept. 1,1891..
4i per cent.. P a r t o
l i per
ct.pre.
Indefinite .
65,000,000.00
o
tei
(REPUNDING.)
The act of July 14,1870 (16 Statutes," 272), authorizes the issue of
$1,000,000,000 at 4 per centum, payable in coin of lhe present standard
value, at the pleasure of the United States Government, after thirty
years; these bonds to be exempt from the payment of all taxes or
duties of the United States, as well as from taxation in any form by
or under state, municipal, or local authority. Bonds and coupons
payable at tbe Treasury of the UnitedStates. This act not to authorize an increase of the bonded debt of the United States. Bonds
to be sold at not less than par in coin, and the proceeds to be applied
to the redemption of outstanding 5-20's, or to be exchanged for said
5-20's, par for par. Payment of these bonds, when due, to be made in
order of dates andnumbers, beginning with each class last dated and
numbered. Interest to cease at the end of three months from notice
of intention to redeem. See Refunding Certificates, page 85.
tei
30 years.
July 1,1907.., 4 per cent.
P a r to
i per
ct. pre.
710,430,950.00
zn
d
1,129,250.00
PUNDED LOAN OP 1907. (RESUMPTION.)
The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any surplus revenues from time t o t i m e i n t h e
Treasury not otherwise appropriated, and to issue, sell, dispose of,
30 years.
July 1,1907..
4 per cent .. P a r .
Indefinite...
30,500,000.00
GO.
00]
00
TABLE A.—STATEMENT OP THE OUTSTANDING PRINCIPAL OF THE PUBLIC DEBT, ETC—Continued.
Length of
loan.
When redeem- Rate of interest.
able.
Price
at which
sold.
Amount
authorized.
Amount issued.
Amount outstanding.
PUNDED LOAN OP 1907 (RESUMPTION)—Continued.
at not less than par, in coin, either of the description of bonds of
the United States described in t h e act of July 14, 1870 (16 Statutes,
272), for the purpose of redeeming, on and after January 1, 1879, in
coin, at the office of the assistant treasurer of the United States in
New York, the outstanding United States legal-tender notes when
presented in sums of not less than fifty dollars.
GOLD CERTIPICATES.
The act of March 3,1863 (12 Statutes, 711), authorizes t h e Secretary of Indefinite .. On demand ., N o n e .
the Treasury to receive deposits of gold coin and bullion in sums of
not less than twenty dollars, and to issue certificates therefor in
denominations of not less than twenty dollars each; the coin and
bullion deposited for or representing the certiticates to be retained
in the Treasury for the payment of the same on demand. The certificates so issued to be received at par in payment of interest on the
public debt and for duties on imports. The act of July 12,1882 (22
Statutes, 165), provides that the Secretary of the Treasury shall suspend the issue of gold certificates whenever the amount of gold
coin and gold bullion in the Treasury reserved for the redemption of
United States notes falls below one hundred millions of dollars.
The act of March 14, 1900, as amended by the act of March 4, 1907,
authorizes ahd directs the Secretary of the Treasury to receive deposits of gold coin with the Treasurer or any assistant treasurer
of the United States, in sums of not less than twenty dollars, and
to issue gold certificates therefor in denominations of not less
than ten aollars, and the coin so deposited shall be retained in the
Treasury and held for the payment of such certificates on demand, and used for no other purpose; such certificates to be received for customs, taxes, and all public dues, and when so received
may be reissued, and when held by any national banking association may be counted as a part of its lawful reserve. The act also
provides that whenever and so long as the gold coin held in the
reserve fund ih the Treasury for the redemption of United States
notes and Treasury notes shall fall and remain below one hundred
million dollars, the authority to issue certificates as herein provided
shall be suspended; and al«o, that when ever and so long as the aggregate amount of United States notes and silver certificates in the
general fund of the Treasury shall exceed sixty million dollars, the
Secretary of the Treasury may, in his discretion, suspend the issue
of the certificates herein provided for; and further, that the Secretary of the Treasury may, in his discretion, issue such certificates in
denominations of ten thousand dollars, payable to order.
tei
Par.
Indefinite .
$862,936,869.00
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SILVER CERTIFICATES.
The act of February 28,1878 (20 Statutes, 26, sec. 3), provides that any Indefinite . . O n d e m a n d . . . N o n e .
holder of the coin authorized by this act may deposit the same with
the Treasurer or any assistant treasurer of the United States in sums
not less than ten dollars and receive therefor certificates of not less
than ten dollars each, corresponding with the denominations of the
United States notes. The coin deposited for or representing the certificates shall be retained in the Treasury for the payment of the
same on demand. Said certificates shall be receivable for customs,
taxes, and all public dues, and, when so received, may be reissued.
The actof August 4,1886 (24 Statutes, 227), authorizes the issue of
silver certificates in denominations of one, two, and five dollars; said
certificates to be receivable, redeemable, and payable in like manner and for like purposes asis provided for by the actof Pebruary 28,
1878.
The act of March 14, 1900, provides that it shall be the duty of the
Secretary of the Treasury, as fast as silver dollars are coined under
the provisions of the acts of July 14, 1890, and June 13, 1898, from
bullion purchased under the act of July 14,1890, to retire and cancel an equal amount of Treasury notes whenever received into the
Treasury, and upon the cancellation of Treasury notes, silver certificates shall be issued against the silver dollars so coined. The
act also provides that silver certificates shall be issued Only of
denominations of ten dollars and under, except that not exceeding
in the aggregate ten per centum of the total volume of said certificates, in the discretion of the Secretary of the Treasury, may be
issued in denominations of twenty dollars, fifty dollars, and one
hundred dollars; and silver certificates of h gher denomination
than ten dollars, except as therein provided, shall, whenever received at the Treasury or redeemed, be retired and canceled, and
certificates of denominations of ten dollars or less shall be substituted therefor, and after such substitution, in whole or in part, a
like volume of United States notes of less denomination than ten
< dollars shall from time to time be retired and canceled, and notes
of denominations of ten dollars and upward shall be reissued in
substitution therefor, with like qualites and restrictions as those
retired and canceled.
Par.
No limit.
489,117,000.00
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REPUNDING CERTIPICATES.
The act of Pebruary 26,1879 (20 Statutes, 321), authorizes the Secretary
of the Treasury to issue, in exchange for lawful inoney of the United
States, certificates of deposit of the denominatioh of ten dollars,
bearing interest at the rate of four per centum per annum, and convertible at any time, with accrued interest, into the four per centum
bonds described in the refuTiding act, the money so received to be
applied only to the payment of the bonds bearing interest at a rate
not less than five per centum, in the mode prescribed by said act.
Indefinite . . C o n v e r t i b l e
into 4 per
cent bonds.
4 per cent..
No limit.
$40,012,750.00
17,160.00
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TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OP THE PUBLIC DEBT, ETC.—Continued.
Length of
loan.
When redeemable.
Rate of in- at Price
which
terest.
sold.
Indefinite .
At pleasure of
the Government.
3i per cent..
Indefinite .
At pleasure of
the Government.
Amount
authorized.
Amount issued.
oo
Amount outstanding.
PUNDED LOAN OP 1881, CONTINUED AT THREE AND ONEHALF PER CENT.
These bonds were issued in exchange for five per cent bonds of the
funded loan of 1881, by mutual agreement between the Secretary of
the Treasury and the holders, and were made redeemable at the
pleasure of the Government.
$50.00
PUNDED LOAN OP 1891, CONTINUED AT TWO PER CENT.
These bonds were issued in exchange for the four and one-half per
cent funded loan of 1891, by mutual agreement between the Secretary of the Treasury and the holders, and were made redeemable at
the pleasure of the Government.
2.per cent..
$25,364,500.00
32,000.00
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LOAN OP JULY 12, 1882.
These bonds were issued in exchange for the five and six per cent
bonds which had been previously continued at three and one-half
per cent by mutual agreement between the Secretary of the Treasury and the holders, and were made redeemable at the pleasure of
the Government.
LOAN OP 1904.
The act of January 14, 1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any surplus revenues from time to time in the
Treasury not otherwise appropriated, and to issue, sell, dispose of at
not less than par, in coin, either of the descriptions of bonds of the
United States described in the act of July 14, 1870 (16 Statutes, .272),
for the purpose of redeeming, on and after January 1, 1879, in coin,
at the office of the assistant treasurer of the United States in New
York, the outstanding United States legal-tender notes when presented in sums of not less than fifty dollars.
LOAN OP 1925.
The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any surplus revenues from time to time in the
Treasury not otherwise appropriated, and to issue, sell, dispose of at
not less than par, in coin, either of the descriptions of bonds of the
United States described in the act of July 14, 1870 (16 Statutes, 272),
for the purpose of redeeming, on and after January I, 1879, in coin,
at the office of the assistant treasurer of the United States in New
York, the outstanding United States legal-tender notes, when presented in sums of not less than fifty dollars.
Indefinite ., At pleasure of
the Government.
10 years..
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3 per cent.
fll7.223
Peb. 1, 1904... 5 p e r c e n t . . tll7.077
200.00
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14,450.00
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30 years ,
Peb. 1,1925.... 4 p e r c e n t . . . tfl04.4946
i n . 166
162,315,400.00
118,489,900.00
LOAN OP I908-I9I8.
The act of J u n e 13,1898 (30 Statutes, 467, sec. 33), authorizes the Secretary of the Treasury to borrow on the credit of'the United States,
from time to time,,as the proceeds may be required, to defray expenditures authorized on account of the war with Spain (such proceeds when received to be used only for the purpose of meeting
such expenditures), the sum of four hundred million dollars, or so
much thereof as may be necessary, and to prepare and issue therefor coupon or registered bonds of the United States in such form as
he may prescribe, and in denominations of twenty dollars or some
multiple of that sum, redeemable in coin at the pleasure of the
United States after ten years from the date of their issue, and payable twenty years from such date, and bearing interest payable quarterly, in coin, at the rate of three per centum per annum; the bonds
so issued to be exempt from all taxes or duties of the United States,
as well as from taxation in any form by or iinder state, municipal,
or local authority.
10 years .
After Aug. I,
1908.
3 percent... Par.
$400,000,000.00
198,792,660.00
68,946,460.00
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CONSOLS OP 1930. •
The act of March 14,1900, section 11, authorizes the Secretary of the
Treasury to receive at the Treasury any of the outstanding bonds of
the United States of the five per cent loan of 1904, of the four per cent
funded loan of 1907, and of the three per cent loan of 1908-1918, and
to issue in exchange therefor an equal amount of coupon or registered
bonds of the United States, in such form as he may prescribe, in denominations of fifty dollars, or any multiple thereof, bearing interest
at the rate of two per centum per annum, payable quarterly, such
bonds to be payable at the pleasure of the United States after thirty
years from the date of their issue. The principal and interest of
said bonds to be payable in gold coin of the present standard value,
and to be exempt from the payment of all taxes or duties of the
United States, as well as from taxation in any form by or under state,
municipal, or local authority. The bonds to be issued at not less
t h a n par and numbered consecutively in the order of their issue;
and when payment is made the last numbers issued shall be first
paid, and this order followed until all the bonds are paid. Interest
to cease three months after any call made by the Government to
redeem.
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After Apr. I,
1930.
2 percent... Par.
839,146,340.00
;>•
646,250,150.00
646,250,150.00
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TREASURY NOTES OP 1890.
The act of July 14,1890 (26 Statutes, 289), directs the Secretary of the
Treasury to purchase, from tirae to time, silver bullion to the aggregate amount of four million five hundred thousand ounces, or so
much thereof as may be offered, in each month, at the market price
thereof, not exceeding one dollar for three hundred and seventy-one
and twenty-five hundredths grains of pure silver, and to issue in payment for such purchases of silver bullion Treasury notes of the United
States, to be prepared by the Secretary of the Treasury, in suich form
and of such denominations, not less than one dollar nor more t h a n
3,672,000.00
00
TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OF THE PIIBLIC DEBT, ETC.—Continued.
Length of
loan.
When redeemable.
Rate of interest.
Price
at which
sold*
Amount
authorized.
00
00
Amount issued. Ainount out^ standing.
TREASURY NOTES OP 1890—Continued.
one thousand dollars, as he may prescribe. That said notes shall be
redeemable on demand, in coin, at the Treasury of the United States,
or at the office of any assistant-treasurer of the United States, and
when so redeemed may be reissued; but no greater or less amount of
such notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coined therefrom then
held in the Treasury, purchased by such notes; and such Treasury
notes shall be a legal tender in payment of all debts, public and private, except where otherwise expressly stipulated in the contract,
and shall be receivable for customs, taxes, and all public dues, and
when so received may be reissued; and such notes, when held by any
national banking association, may be counted as a part of its lawful
reserve. That upon demand of the holder of any of the Treasury
notes provided for, the Secretary of the Treasury shall redeem the
same in gold or silver coin, at his discretion, it being the established
policy of the United States to maintain the two metals on a parity
with each other upon the present legal ratio, or such ratio as may be
provided by law.
The act of November 1,1893 (28 Stat., 4), repeals so much of the act of
July 14,1890, as directs the Secretary of the Treasury to purchase
from time to time silver bullion to the aggregate amount of four
million five hundred thousand ounces, .or so much thereof as may
be offered in each month, at the market price thereof,- and to issue
in payment for such purchases Treasury notes of the United States.
The act of June 13, 1898 (30 Stat., 467), directs that all of the silver
bullion in the Treasury purchased in accordance with the provisions of the act of July 14,1890, shall be coined into standard silver
dollars as rapidly as the public interests may require, to an amount
of not less than one and one-half millions of dollars in each month,
and that said dollars, when so coined, shall be used and applied in
the manner and for the purposes named in said act. The act of
March 14, 1900, provides that United States notes, and Treasury
notes issued under the act of July 14,1890, when presented to the
Treasury for redemption, shall be redeemed in gold coin of the
standard fixed by said act, and requires that the Secretary of the
Treasury shall set apart in the Treasury a reserve fund of one hundred and fifty million dollars to be used for such redemption purposes only. It also provides that it shall be the duty of the Secretary of the Treasury, as fast as silver dollars are coined under the
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provisions of the acts of July 14,1890, and June 13,1898. from bullion
purchased under the act of July 14, 1890, to retire and cancel an
equal amourit of Treasury notes-whenever received into the Treasury, and upon such cancellation to issue silver certificates against
t h e silver dollars so coined.
PANAMA CANAL LOAN.
The act of June 28,1902 (32 Stat., 484, sec. 8), provides that the Secretary 10 years.,
of the Treasury is hereby authorized to borrow on the credit of the
United States from time to time as the proceeds may be required to
defray expenditures authorized by this a,ct (such proceeds when received to be used only for the purpose of meeting such expenditures),
the siim of one hundred and thirty, million dollars, or so much thereof
as may be necessary, and to prepare and issue therefor coupon or registered bonds of the United States in such form as he may prescribe,
and in denominations of twenty dollars or some multiple of that sum,
redeemable in gold coin at the pleasure of the United States after ten
years from the date of their issue, and payable thirty years from such
date, .and bearing interest payable quarterly.in gold coin at the rate
of two per centum per annum; and the bonds herein authorized shall
be exempt from all taxes or duties of the United States, as well as from
taxation i n a n y form by or understate, municipal, or local authority:
Provided, That said bonds may be disposed of by the Secretary of the
Treasury at not less than par, under such regulations as he may prescribe, giving to all citizens of the United States an equal opportunity
to subscribe therefor, but no commissions shall be allowed or paid
thereon; and a sum not exceeding one-tenth of one per centum of
the amount of the bonds herein authorized is hereby appropriated,
out of any money in the Treasury not otherwise appropriated, to pay
the expense of preparing, advertising, and issuing the same; and the
act of December 2i, 1905 (34 Stat., 5, sec. 1), provides t h a t t h e two per
cent bonds of the United States authorized by section eight ofthe act
entitled " A n act to provide forthe construction of a canal connecting the waters of the Atlantic and Pacific oceans," approved J u n e
twenty-eighth, nineteen hundred and two, shall have all the rights
'and privileges accorded by law to other two per cent bonds of the
United States, and every national banking association having on
deposit, as provided by law, such bonds issued under the provisions
of said section eight of said act approved J u n e twenty-eighth, nineteen hundred and two, to secure its circulating notes, shall pay to
the Treasurer of the United States, in the months of January and
July, a t a x of one-fourth of one per cent each half year upon the average amount of such of its notes in circulation as are based upon the
deposit of said two per cent bonds; and such taxes shall be in lieu
of existing taxes on its notes in circulation imposed by section fiftytwo hundred and fourteen of the Revised Statutes.
The act of August 5,1909 (36 Stat., 117, sec. 39), provides that the Secretary of the Treasury is hereby authorized to borrow on the credit of
. the United States from time to time, as the proceeds may be required
to defray expenditures on account of the Panama Canal and to reimburse the Treasury for such expenditures already made and not
covered by previous issues of bonds, t h e sum of two hundred and
After Aug. I,
1916.
2 p e r c e n t . . . $103.1647 $375,200,980.00
average.
$84,631,980.00
$84,631,980.00
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TABLE A.—STATEMENT OF THE OUTSTANDING PRINCIPAL OP THE PUBLIC DEBT, E T C — C o n t i n u e d .
o
Length of
loan.
When redeemable.
Rate of interest.
Price
at which
sold.
Amount
authorized.
Amountissued. Amount outstanding.
ninety million five hundred'and sixty-nine thousand dollars (which
sum together with the eighty-four million six hundred and thirtyone thousand nine hundred [and eighty] dollars already borrowed
upon issues of two per cent bonds uuder section eight of the act of
J u n e twenty-eighth, nineteen hundred and iwo, equals the estimate
of the Isthmian Canal Commission to cover the entire cost of the
canal from its inception to its completion), and to prepare and issue
therefor coupon or registered bonds of the United States in such
form as he may prescribe, and in denominations of one hundred
dollars, five hundred dollars, and one thousand dollars, payable fifty
years from the date of issue, and bearing interest payable quarterly
in gold coin at a rate not exceeding three per centum per annum;
and the bonds herein authorized shall be exempt from all taxes or
duties of the United States, as well as from taxation in any form
by or under State, municipal, or local authority: Provided, Thatsaid
bonds may be disposed of by the Secretary of the Treasury at not
less than par, under such regulations as he may prescribe, giving to
all citizens of t h e United States an equal opportunity to subscribe
therefor, but no commissions shall be allowed or paid thereon; and
a sum not exceeding one-tenth of one per centum of the amount of
the bonds herein authorized is hereby appropriated, out of any
money in the Treasury not otherwise appropriated, to pay the expenses of preparing, advertising, and issuing the same; and the
authority contained in section eight of the act of June twentyeighth, nineteen hundred and two, for the issue of bonds bearing
interest at two per centum per annum, is hereby repealed.
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NATIONAL-BANK NOTES (REDEMPTION ACCOUNT).
The act of July 14, 1890 (26 Stat., 289), provides that balances standing with t h e Ti:easurer of the Unitea States to the respective credits
of national banks for deposits made to redeem the circulating notes
of such banks, and all deposits thereafter received for like purpose,
shall be covered into t h e Treasury as a miscellaneous receipt, and
the Treasurer of the United States shall redeem from the general
cash in t h e Treasury t h e circulating notes of said banks which may
come into his possession subject to redemption, * * * and the
balance remaining of the deposits so covered shall, at the close of
each month,, be reported on the monthly public debt statement as
debt of the United States bearing no interest:
$27,904,463.00
2,652,665,838.04
T A B L E B . — S T A T E M E N T OF THE OUTSTANDING
Year.
185&-July 1...
1857
1858
1859
1860
1801
1862
1863
1864
1865
1865—Aug. .31.
. 1866—July 1...
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878--...
1879
1880
1881.1882
1883..-.-...:..
1884
1885
1886
I887-.
1889.
1890.
1891.
1892.
1893.
PRINCIPAL OP THE P U B L I C D E B T OF THE U N I T E D
Y E A R FROM 1856 TO 1910, INCLUSIVE.
Total interestbearing debt.
S31,762, 761.77
28,460, 958.93
44,700, 838.11
58,290, 738.11
64,640, 838.11
90,380, 873.95
365,304, 826.92
707,531, 634.47
359,930, 763.50
221,311, 918.29
381,530, 294.96
332,331, 207.60
248,067, 387.66
202,088, 727.69
162,060, 522.39
046,455, 722.39
934,696, 750.00
814,794, 100.00
710,483, 950.00
738,930, 750.00
722,676, 300.00
710,685, 450.00
711,888, 500.00
794,735, 650.00
797,643, 700.00
723,993, 100.00
639,567, 750.00
463,810, 400..00
338,229, 150.00
226,563, 850.00
196,150, 950.00
146,014, 100.00
021,692, 350.00
950,522, 500.00
829,853, 990.00
725,313, 110.00
610,529, 120.00
585,029,330.00
585,037, 100.00
Debt on which interest has ceased.
776.13
238, 872.92
21i; 042.92
206, 099.77
201, 449.77
199: 999.77
280; 195.21
473, 048.16
416: 335.86
1,245: 771.20
1,503: 020.09
935: 092.05
I,840: 615.01
1,197: 340.89
5,260; 181.00
3,708, 641.00
1,948, 902.26
7,926: 797.26
51,929; 710.26
3,216, 590.26
11,425; 820.26
3,902, 420.26
16,648; 860.26
5,594, 560.26
37,015, 630.26
7,621, 455.26
6,723, 865.26
16,260, 805.26
7,831, 415.26
19,656, 205.26
4,100, 995.26
9,704, 445.26
6,115, 165.26
2,496, 095.26
1,911, 485.26
1,815, 805.26
1,614, 705.26
2,785, 875.26
2,094, 060.26
Debt bearing no
interest.a
S158,591,390.00
411,767,456.00
455,437,271.21
458,090, 180.25
461,616, 311.51
439,969 874.04
428,218, 101.20
408,401,782.61
421,131 510.55
430,508',064.42
416,565 680.06
430,530; 431.52
472,069, 332.94
509,543, 128.17
498,182, 411.69
465,807, 196.89
476,764,031.84
455,875, 682.27
410,835, 741.78
388,800, 815.37
422,721,954.32
438,241, 788.77
538,III, 162.81
584,308, 868.31
663,712, 927.88
619,344, 468.52
629,795; 077.37
739,840, 389.32
787,287; 446.97
825,011, 289.47
933,852, 766.35
1,000,648,939.37
958,854, 525.87
STATES
ON THE 1ST OF J U L Y OF EACH
Outstanding principal.
Cash in the Treasury July I.b
Total debt less cash
in Treasury.
S31,972,537.90
28,699, 831.85
44,911, 881.03
58,496, 837.88
64,842, 287.88
90,580, 873.72
524,176, 412.13
1,119,772, 138.63
1,815,784,370.57
2,680,647, 869.74
2,844,649, 626.56
2,773,236, 173.69
2,678,126, 103.87
2,611,687, 851.19
2,588,452 213.94
2,480,672, 427.81
2,353,211,332.32
2,253,251 328.78
2,234,482; 993.20
2,251,690, ;.43
2,232,284, 531.95
2,180,395 067.15
2,205,301; 392.10
2,256,205 892.53
2,245,495;072.04
2,120,415 370.63
2,069,013;569.58
1,918,312,994.03
1,884,171,728.07
1,830,528
1,863,964; 923.57
1,775,063, 873.14
1,657,602, 013.78
1,692,858,592. 63
1,619,052,984.58
1,552,140 922.23
1,5.45,996;204.73
1,588,464,591.61
1,545,985, 144.63
686.13
$21,006, 584.89
18,701, 210.09
7,011, 689.31
5,091, 603.69
4,877, 885.87
2,862, 212.92
18,863, 659.96
8,421, 40L22
106,332, 093.53
5,832, 012.98
88,218, 055.13
137,200, 009.85
169,974, 892.18
130,834, 437.96
155,680, 340.85
149,502, 471.60
106,217, 263.65
103,470, 798.43
129,020, 932.45
147,541 314.74
142,243; 361.82
119,469 726.70
186,025; 960.73
256,823 612.08
249,O8O; 167.01
201,088, 622.88
249,363, 415.35
243,289, 519.78
345,389, 902.92
391,985, 928.18
488,612, 429.23
492,917, 173.34
482,433, 917.21
629,854, 089.85
643,113, 172.01
661,355, 834.20
694,083, 839.83
746,937, 681.03
707,-016, 210.38
$10,965, 953.01
9,998; 621.76
37,900, 191:72
53,405, 234.19
59,964, 402.01
87,718, 660.80
505,312, 752.17
1,111,350, 737.41
1,709,452, 277.04
2,674,815, 856.76
2,756,431, 571.43
2,636,036, 163.84
2,508,151, 211.69
2,480,853, 413.23
2,432,771, 873.09
2,331,169, 956.21
2,246,994, 068.67
2,149,780, 530.35
2,105,462, 060.75
2,104,149, 153.69
2,090,041, 170.13
2,060,925, 340.45
2,019,275, 431.37
1,999,382, 280.45
1,996,414, 905.03
1,919,326, 747.75
1,819,650, 154.23
1,675,023, 474.25
1,538,781, 825.15
1,438,542, 995.39
1,375,352, 443.91
1,282,145, 840.44
1,175,168, 675.42
1,063,004, 894.73
975,939, 750.22
890,784, 370.53
851,912, 751.78
841,526, 463.60
475.75
a Containing legal-tender notes, gold and silver certfficates, etc.
b Including gold reserve and coin set apart for redemption of certfficates and treasury notes and exclusive of national bank 5 per cent fund,-outstanding warrants and checks,
and disbursing officers' balances.
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TABLE
B.—STATEMENT
OP T H E OUTSTANDING P R I N C I P A L OP T H E P U B L I C D E B T OP T H E U N I T E D
Y E A R PROM 1856 TO 1910, INCLUSIVE—Continued.
Total interestbearing debt.
Year.
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903.
1904
1905
1906
1907
1908
1909
1910
-. .-
-.
...
:
-.
-
..-
$635,041,890.00
716,202,060.00
847,363,890.00
847,365,130.00
• 847,367,470.00
1,046,048,750.00
1,023,478,860.00
987,141,040.00
931,070,340.00
914,541,410.00
895,157,440.00
895,158,340.00
895,159,140.00
894,834,280.00
897,503,990.00
913,317,490.00
913,317,490.00
Debt on which interest h a s ceased.
$1,851,240.26
1,721,590.26
1,636,890.25
1,346,880.26
1,262,680.26
1,218,300.26
1,176,320.26
1,415,620.26
1,280,860.26
1,205,090.26
1,970,920.26
1,370,245.26
1,128,135.26
1,086,815.26
4,130,015.26
2,883,855.26
2,124,895.26
D e b t bearing n o
interest, a
$995,360,506.42
958,197,332 99
920,839,543.14
968,960,655.64
947,901,845.64
944,660,256.66
1,112,305, o n . 41
1,154,770,273.63
1,226,259,245.63
1,286,718,281.63
1,366,875,224.88
1,378,086,478.58
1,440,874,563.78
1,561,266,966.28
1,725,172,266.28
1,723,344,895.78
1,737,223,452 78
STATES ON T H E 1ST OP J U L Y O F BACH
Outstanding principal.
Cash i n t h e T r e a s - T o t a l d e b t less c a s h
u r y J u l y I.b
in Treasury.
$1,632,253,636.68
1,676,120,983.25
' 1,769,840,323,40
1,817,672,665.90
1,796,531,995.90
1,991,927,306.92
2,136,961, OOL 67
.2,143,326,933.89
2,158,610,445.89
2,202,464,78L 89
2,264,003,585.14
2,274,615,063.84
2,337,161,839.04
2,457,188,061.54
2,626,806,271.54
2,639,546,241.04
2,652,665,838.04
$732,940,256.13
774,448,016.51
814,543,069.70
831,016,579.76
769,446,503.76
836,607,071.73
1,029,249,833.78
1,098,587,813.92
- 1,189,153,204.85
1,277,453,144.58
1,296,771,811.39
1,284,748,29L 87
1,372,726,152.25
1,578,591,306.51
1,688,673,862.16
1,615,684,710.25
1,606,216,652 79
$899,313,380.55
901,672,966.74
955,297,253.70
986,656,086.14
1,027,085,49-2.14
1,155,320,235.19
1,107,711,257.89
1,044,739,119.97
969,457,241.04
925,011,637.31
967,231,773.75
989,866,771.97
964,435,686.79
878,596,755.03
938,132,409.38
1,023,861,530.79
1,046,449,185.25
a Containing legal-tender notes, gold and silver certificates, etc.
b Including gold reserve and coin set apart for redemption of certificates and treasury notes and exclusive of national bank 5 per cent fund, outstanding warrants and checks
and disbursing officers' balances.
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T A B L E C . — A N A L Y S I S OF THE PRINCIPAL OF THE I N T E R E S T - B E A R I N G P U B L I C D E B T OF THE U N I T E D STATES PROM J U L Y 1, 1856,
Year.
2 percents.
1856—July 1 . . .
1857-.:
1858
1859
I860
1861
1862
1863
1864
1865
1865—Aug.31-.
1866—July 1 . . .
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881.
- . .
1882
1883
1884
1885
1886
1887
1888.
1889
18901891
1892..
1893
1894
1895.
1896
1897
3 percents.
3J percents.
$64,000,000.00
66,125,000.00
59,550,000.00
45,885,000.00
24,665,000.00
14,000,000.00
14,000,000,00
14,000,000,00
14,000,000,00
14,000,000.00
14,000,000.00
14,000,000,00
14,000,000.00
14,000,000.00
14,000,000,00 $460,461,050,00
318,204,350,00
32,082,600,00
238,612,150,00
208,190,500.00
158,046,600.00
33,716,500.00
14,000,000.00
14,000,000.00
14,000,000.00
4 percents.
4J percents.
5 percents.
$3,632,000.00
3,489,000.00
23,538,000.00
37,127,800.00
43,476,300.00
33,022,200,00
$57,926,116,57
30,483,000,00
105,629,385.30
30,483,000.00
77,547,696.07
300,213,480.00
90,496,930.74
, 245,709,420.63
618,127,98
269,175,727.65
121,341,879,62
201,982,665.01
17,737,025.68
198,533,435.01
801,36L23
221,586,185,01
221,588,300,00
221,588,300,00
678,000,00
274,236,450.00
678,000,00
414,567,300.00
678,000,00
414,567,300.00
678,000.00
510,628,050.00
678,000.00
607,132,750.00
711,685,800.00
$140,000,000.00 703,266,650.00
98,850,000.00 240,000,000.00 703,266,650.00
741,522,000,00 250,000,000.00 508,440,350,00
739,347,800,00 250,000,000.00 484,864,900.00
739,347,800.00 250,000,000.00 439,841,350.00
739,349,350.00 250,000,000.00
737,942,200.00 250,000,000,00
737,951,700.00 250,000,000.00
737,960,450,00 250,000,000,00
737,967,500.00 250,000,000,00
737,975,850.00 250,000,000.00
714,315,450,00 222,207,050,00
676,214,990.00 139,639,000.00
602,297,360.00 109,015,750,00
50,869,200.00
559,659,920.00
559,664,830.00 a 25,364,500.00
559,672,600,00 0 25,364,500.00
559,677,390.00 0 25,364,500.00
50,000,000.00
590,837,560,00 0 25,364,500,00 100,000,000.00
721,999,390.00 0 25,364,500.00 100,000,000.00
722,000,630.00 0 25,364,500.00 100,000,000.00
a Continued at 2 per cent.
6 percents.
7 ^ percents.
TO J U L Y 1,
T o t a l interestbearing debt.
1910.
A n n u a l interest charge.
$31,762,761.77 $1,869,445.70
$28,130,761.77
28,460,958.93 1,672,767.53
24,971,958.93
44,700,838.11 2,446,670.28
21,162,838.11
58,290,738.11 3,126,166.28
21,162,938.11
64,640,838.11 3,443,687.29
21,164,538.11
90,380,873.95 5,092,630.43
57,358,673.95
365,304,826.92 22,048,509.59
154,313,225.01 $122,582,485.34
707,531,634.47 41,854,148,01
431,444,813.83 139,974,435.34
842,882,652 09 139,286,935.34 1,359,930,763.50 78,853,487.24
.1,213,495,169,90 671,610,397.02 2,221,311,918.29 137,742,617.43
1,281,736/439.33 830,000,000.00 2,381,530,294.96 150,977,697.87
1,195,546,04L 02 813,460,621.95 2,332,331,207.60 146,068,196.29
1,543,452,080.02 488,344,846.95 2,248,067,387.66 138,892,451,39
37,397,196.95 2,202,088,727.69 128,459,598.14
1,878,303,984.50
2,162,060,522 39 125,523,998.34
1,874,347,222 39
2,046,455,722 39 118,784,960.34
1,765,317,422 39
1,934,696,750.00 111,949,330.50
1,613,897,300.00
1,814,794,100.00 103,988,463.00
1,374,883,800! 00
1,710,483,950.00 98,049,804.00
1,281,238,650.00
1,738,930,750.00 98,796,004.50
1,213,624,700.00
1,722,676,300.00 96,855,690.50
1,100,865,550.00
1,710,685,450.00 96,104,269.00
984,999,650.00
1,711,888,500.00 93,160,643.50
854,621,850,00
1,794,735,650,00 94,654,47250
738,619,000.00
1,797,643,700,00 83,773,778.50
283,681,350.00
1,723,993,100.00 79,633,981,00
235,780,400.00
1,639,567,750.00 75,018,695.50
196,378,600.00
1,463,810,400.00 57,360, n o , 75
1,338,229,150.00 51,436,709.50
1,226,563,850.00 47,926,432,50
1,196,150,950.00 47,014,133,00
1,146,014,100,00 45,510,098,00
.1,021,692,350.00 41,780,529.50
950,522,500.00 38,991,935,25
829,853,990.00 33,752,354.60
725,313,110.00 29,417,603,15
. 610,529,120.00 23,615,735.80
585,029,330.00 22,893,883.20
585,037,100.00 22,894,194.00
635,041,890.00 25,394,385.60
716,202,060.00 29,140,792. 40
847,363,890.00 34,387,265.60
847,365,130.00 34,387,315.20
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T A B L E C - -ANALYSIS OF THE -PRINCIPAL OF T H E INTEREST-BEARING
P U B L I C D E B T OF THE U N I T E D STATES FROM J U L Y 1, 1856, TO JULY 1,
CD)'
1910—Continued.
Year.
1898
1899.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
2 percents.
$307,125,350.00
445,940,750.00
445,940,750.00
520,143,150.00
542,909,950.00
542,909,950.00
595,942,350,00
676,250,150,00
700,882,130.00
730,882,130.00
730,882,130,00
3 percents.
$198,678,720,00
128,843,240,00
99,621,420,00
97,515,660.00
83,107,060,00
77,135,360.00
77,135,360,00
63,945,460. 00
63,945,460.00
78,131,960,00
63,945,460.00
63,945,460.00
3§ percents.
4 percents.
4^ percents.
5 percents.
$722,002,970.00 o $25,364,500,00 $100,000,000.00
722,005,530,00 0 25,364,500.00 100,000,000.00
517,879,220,00 o 21,979,850.00 47,651,200.00
21,854,100.00
419,724, 770,00
19,410,350.00
368,203,580,00
19,385,050.00
291,906,150.00
275,112,130.00
275,113,030.00
235,271,330,00
154,638,670.00
118,489,900,00
118,489,900.00
118,489,900.00
6 percents.
Total interest- Annual inbearing debt. terest charge.
7T% percents.
,.
$847,367,470.00 $34,387,408.80
1,046,048,750.00 40,347,872 80
1,023,478,860.00 33,545,130.00
987,141,040.00 29,789,153.40
931,070,340,00 27,542,945.50
914,541,410,00 25,541,573,30
895,157,440,00 24,176,745.00
895,158,340.00 24,176,781.00
895,159,140.00 23,248,064.00
894,834,280.00 21,628,913.60
897,503,990.00 20,946,270.41
913,317,490.00 21,275,602.40
913,317,490.00 21,275,602 40
•a Continued at 2 per cent.
NOTE 1.—Annual interest charge is computed on amount of outstanding principal at close of fiscal year and is exclusive of interest charge on Pacific Railway bonds.
NOTE 2,—The figures for July 1,1879, were made up assuming pending funding operations to have been completed.
NOTE 3.—The temporary loan per act of July 11, 1862, is included in the 4 percents from 1862 to 1868, inclusive, with the exception of the amount outstanding August 31,1865,
this being the date at which the public debt reached its highest point. This loan bore interest from 4 per cent to 6 per cent, and was redeemable on ten days' notice after thirty days,
but being constantly changing it has been considered more equitable to include the whole.amount outstanding as bearing 4 per cent interest on an average for the year.
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SECRETARY OP T H E TREASTJRY.
TABLE D.—STATEMENT OF THE ISSUE AND REDEMPTION OF LOANS AND TREASURY
NOTES' AND OP DEPOSITS AND/REDEMPTIONS IN NATIONAL-BANK NOTE ACCOUNT
(BY WARRANTS) FOR THE FISCAL Y E A R ENDED J U N E 30, 1910.
Issues and de- Redemptions.
posits.
Seven-thirties of 1861, act of July 17,
1861
Legal-tender notes, acts of Feb. 25
and July 11,1862, Jan. 7 and Mar. 3,
$129,940,000.00
1863, and Mar. 14,1900
Fractional currency, acts of July 17,
1862, Mar. 3, 1863, and June 30,1864..
Qold certificates, acts of Mar. 3,1863,
283,178,000.00
July 12,1882, and Mar. 14,1900
Compound-interest notes, acts of Mar.
3,1863, and June 30,1864
Seven-thirties of 1864 and 1865, acts of
June 30,1864, and Mar. 3,1865
Consols of 1867, act of Mar. 3,1865
Consols of 1868 act of Mar. 3 1865
Silver certificates, actsof Feb. 28,1878,
353,997,600.00
and Mar 14 1900
Refunding certificates, act of Feb. 26,
1879
Funded loan of 1881, acts of July 14,
1870 Jan 20 1871 and Jan 14.1875
National-bank note account, act of
31,674,292.50
July 14,1890
Treasury notes of 1890, acts of July 14,
1890, and Mar. 14,1900 .
Loan of 1904, acts of Jan. 14,1875, and
Mar.14,1900
Funded loan of 1907, acts of July 14,
1870, Jan. 20,187I, Jan. 14,1875, and
Mar 14 1900
798,789,892 50
Total
[Excess of issues
Excess of redemptions
....
Net excess of issues
Excess of
issues and deposits.
$50.00
Excess of
redemptions.
$50 00
129,940,000.00
1,965.00
272,843,000,00
1,965.00
$10,335,000.00
50.00
50.00
100.00
400.00
200.00
100 00
400.00
200.00
349,294,600.00
4,703,000.00
560.00
560.00
200.00
200.00
32,288,770.50
614,478.00
543,000.00
543,000.00
29,300.00
29,300.00
728,100.00
785,670,295.50
728,100.00
15,038,000.00
1,918,403.00
15,038,000.00
1,918,403.00
13,119,597.00
DR.
July
1,1909
June 30,1910
TABLE E . — S I N K I N G FUND ACCOUNT FOR !FISCAL Y E A R
To balance from last year
: '.
$593,721,460.51
To 1 per cent on the principal of the public debt on
June 30, 1909, less coin certificates. Treasury notes,
national bank note redemption account, and cash
available for reduction of the debt, viz, $1,119796,431.04
11,197,964.31
To excess of past redemptions of national-bank notes
over 1 per cent of national bank note redemption
86.317,324.49
account heretofore charged in the account
48,911,694.83
To interest on redemptions prior to fiscal year 1910..,
To interest on $760,325, amount of d e b t ' ' paid'' during
32,086.59
fiscal year 1910.:
690,180,530.73
June 30,1910
1910.
By principal of bonded debt redeemed in 1910
By accrued interest thereon
By fractional currency and notes redeemed in 1910...
By accrued interest thereon
By balance
CR.
CD
$757,600.00
14,980.10
2,725.00
666.22
689,404,559.41
690,180,530.73
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SECRETARY OP THE TREASURY.
TABLE F.—POPULATION, ORDINARY RECEIPTS AND DISBURSEMENTS OF THE GOVERNMENT FROM 1837 TO 1910, EXCLUSIVE OF POSTAL, AND P E R CAPITA ON RECEIPTS
AND P E R C A P I T A O N D I S B U R S E M E N T S .
Population.
1837
1838
1839
1840
1841
1842
1843 (six months)
1844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
.-..
1857
^1858
1859....
I860
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878...
1879
1880
1881
1882.....
1883
:-..1884
1885
1886
:
1887
:
1888
1889-1890
1891
1892
1893
1894
1895
1896
1897
1898
1899......
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
15, 655,000
16, 112,000
16, 584,000
17, 069,453
17, 591,000
18, 132,000
18,
,694,000
19,,276,000
19,,878,000
20, 500,000
21,
,143,000
21,
,805,000
22,
,489,000
23, 191,876
23, 995,000
24,
,802,000
25, 615,000
26,,433,000
27,
,256,000
28,
,083,000
28,
,916,000
29, 753,000
,
30,
,596,000
31,
,443,321
32,
,064,000
32,
,704,000
33,
,365,000
34,
,046,000
34,
,748,000
35,
,469,000
36,
,211,000
36,
,973,000
37,
,756,000
38,
,558,371
89,
,555,000
40,
,596,000
41,
,677,000
42,
,796,000
43,
,951,000
45, 137, 000
,
46,
,353,000
47,
,598,000
48,
,866,000
50,
,155,783
51,
,316,000
52,
,495,000
53,
,693,000
54,
,911,000
56,
,148,000
57,
,404,000
68,
,680,000
59,
,974,000
61,
,289,000
62,
,622,250
63,
,947,000
65,
,191,000
66,
,456,000
67,
,740,000
69,
,043,000
70, 365,000
,
71, 704,000
,
73,
,060,000
74,
,433,000
76,
,295,220
77,
,754,000
79,
,117,000
80,
,847,000
81,
,867,000
83,
,260,000
84,
,662,000
86,
,074,000
496,000
. 87,
88, 926,000
o90. 363,000
Ordinary
receipts.
$24,954, 153.00
26,302; 562.00
31,482, 760.00
19,480, 115.00
16,860, 160.00
19,976, 197.00
8,231, 001.26
29,320, 707.78
29,970, 105,80
29,699, 967. 74
26,467, 403.16
35,698, 699.21
30,721, 077.60
43,592, 888.88
52,555, 039. 33
49,846, 815. 60
61,587, 031.68
73,800, 341.40
65,350, 674. 68
74,056, 699.24
68,965, 312. 67
46,655, 365.96
52,777, 107.92
66,054, 699.83
41,476, 299.49
61,919, 261.09
112,094, 945.51
243,412, 971.20
322,031, 158.19
519,949, 564. 38
462,846, 679. 92
376,434, 453.82
357,188, 256.09
395.959, 833.87
374,431, 104.94
364,694, 229.91
322,177, 673.78
299,941, 090.84
284,020, 771.41
290,066, 584.70
281,000, 642.00
257,446, 776.40
272,322, 136. 83
333,526, 500,98
360,782, 293.00
403,625, 250.00
398,287, 682.00
348,619, 870.00
323,690, 706,00
336,439, 727.00
371,403, 277.00
379,266, 076.00
387,050, 059.00
403,080, 982.00
392,612,447.31
354,937, 784.24
385,819, 628.78
297,722, 019.25
313,390, 075.11
326,976, 200. 38
347,721, 705.16
405,321, 336.20
515.960, 620.18
667,240, 851.89
687,685, 337.53
662,478, 233.21
560,396, 674,40
539,716,913.86
544,606, 758.62
594,717, 942.32
663,125. 659.92
601,060,723.27
603,589, 489.84
675,511, 715.02
Per capita on
receipts.
Ordinary disbursements.
$1.59
$37,243, 214.24
1.63
33,864, 714.66
1,90
26,896, 782.62
1.14
24,314, 618.19
.96
26,481, 817.84
1.10
25,134, 886.44
.44
11,780, 092.51
1.52
22,483, 560.14
1.51
22,936, 827.79
1.46
27,261, 182.86
1.25
64,920, 784.09
1.64
47,618, 220.65
1.37
43,499, 078.39
1,88
40,948, 383.12
219
47,751, 478.41
2.01
44,390,252.36
2.40
47,743, 989.09
2,79
65,038, 466.11
2.40
68,630, 662.71
2 64
68,726, 350.01
2 38
67,634, 408.93
1.67
73,982. 492.84
1.72
68,993. 699. 77
1.78
63,200,875.66
1.30
66,650, 213.08
1.58
469,570, 241.66
3.36
718,734, 276.18
7.14
864,969, 100.83
9.26 1,295,099,289.58
14.65
619,022, 366.34
12 78
346,729, 325. 78
10.18
370,339, 133.82
9,46
321,190, 597.75
10.26
293,657, 005.15
9.47
283,160, 393.51
8.98
270,659, 696.91
7.73
285,239, 325.34
7.01
301,238, 800.21
6.46
274,623, 392.84
6.43
265,101, 084.59
6.06
241,334, 474.86
•5.41
236,964, 326.80
6.67
266,947, 883.63
6.65
264,847, 637.36
7.00
269,661, 638.81
7.68
257,981, 439.57
7.41
265,408, 137.54
6.36
244,126, 244.33
5.76
260,226, 935,11
5.86
242,483, 138.50
6.33
267,932, 179.97
6.32
259,653. 958.67
6,31
281,996, 615.60
6.43
297,736, 486.60
6,14
366,372,"684.74
6,44
345,023, 330.58
5.81
383,477, 954.49
4.40
367,526, 279,83
4.54
366,196, 298.29
4.65
362,179, 446.08
4.86
366,774, 159,57
5.55
443,368, 682.80
6.93
606,072, 179.86
7,43
487,713, 791.71
7,56
609,967, 353.15
7.11
471,190, 867.64
6.93
606,089, 022.04
6.69
532,237, 821.31
6.64
663,360, 093,62
7.02
549,405, 426.35
7.70
561,705, 129.04
6.87
621,102, 390.64
6.79
662,324, 444.77
7.48
659,705, 391.08
Per capita
on
disbursements.
$2 38
210
1.62
1.42
1.51
1.39
.63
1.17
1.15
1.33
2.60
218
1.93
1.77
1,99
1.79
1.86
2 08
215
2.45
2 33
2.49
2.25
2 01
2.14
14.36
21.64
25.40
37.27
14.63
9.68
10.01
8.61
7.61
7.16
6.66
6.84
7.04
6.26
5.87
5.21
4.98
5.46
5.28
6.06
4.92
4.94
4.46
4.63
4.2U
4.56
4.32
4.60
4.75
5.56
5,29
5.77
5.43
6.16
5.01
5.10
6.07
8.14
6.39
6.56
5.96
6.26
6.50
6.77
6.49
6.41
7.10
7.45
.7.30
a Estimated July 1.
NOTE.—The ordinary receipts and disbursements and per capita on receipts for 1891 were erroneously stated b y t h e Register of the Treasury in his reports for 1891,1892, and 1893. (See Finance
Reports for those years, pp. 845, 767, and 906.)
65872°—FI 1910
7
TABLE JG.—STATEMENT SHOWING THE ORDINARY RECEIPTS AND DISBURSEMENTS OF THE GOVERNMENT BY MONTHS; THE LEGAL-TENDER NOTES,
N E T GOLD, AND AVAILABLE CASH IN THE TREASURY AT THE END OF EACH MONTH; THE MONTHLY REDEMPTION OF LEGAL-TENDER
NOTES IN GOLD AND THE IMPORTS AND EXPORTS OF GOLD, FROM JULY, 1896, TO J U N E , 1910, INCLUSIVE.
Month.
1896—July
August
September
October
November
December
1897—January
February
March
April
May
June
Total for 12 months
July
August
September
October
November
December
1898—January
February
March
April
May
June
Total for 12 months
July
August
September
October
November
December
1899—January
February
March
Ordinary
disburseOrdinary
Iments, exclureceipts,
exclusive of sive of postal,
principal of
postal.
debt, and
premium.
Surplus
receipts.
Balance in
Net gold Igeneral fund,
in Treasury. incliiding
net gold.
Imports of
gold.
Exports of"
gold.
$29,029,209
25,562,097
24,584,245
26,282,830
25,210,696
25,857,114
24,316,994
24,400,997
36,217,662
37,812,135
29,797,391
36,584,708
$42,088,468 a$13,059,259 $110,718,746 $256,158,473
35,701,677 a 10,139,580
100,957,561
243,346,401
26,679,535
a 1,996,290 124,034,672 241,154,457
33,978,277
a 7,695,447
117,126,524 233,572,762
33,260,720
a 8,060,024 131,610,353 225,357,098
23,812.665
137,316,544 228,320, 380
2,044,449
30,269,389
215,362,421
a 5,952,395 144,800,493
28,796,057
212,837,256
a 4,395,060 148,661,209
27,212,998
151,786,464 222,045,606
9,004,664
32,072,097
153,340,890 228,090,517
5,740,038
29,109,259
144,319,563
230,113,813
688,132
22,934,695
140,790,738
244,466,202
13,650,013
$1,667,986
4,289,538
34,347,009
28,193,769
7,487,300
2,801,044
943,306
830,180
1,439,439
971,506
951,515
1,092,188
$11,931,436
1,972,544
93,565
368,007
468,010
431,826
442,355
353,147
575,205
6,631,216
9,468,471
7,625,808
347,721,705
365,774,160
a 18,062,455
85,014,780
40,361,580
39,027,364
19,023,615
21,933,098
24,391,415
43,363,605
69,646,698
37,333,628
28,572,358
32,958,751
33,012,943
30,074,818
33,509,313
50,100,909
33,688,047
26,368,816
33,701,512
37,810,839
27,634,092
36,696,711
26,599,256
31,882,444
44,314,062
47,849,909
47,852,282
a 11,073,545
a 14,564,432
a 3,435,718
a 9,310,097
5,652,766
32,012,606
636,917
1,973,102
1,076,307
all, 301,119
a 17,776,091
a 14,342,969
938,951
4,720,669
4,723,181
11,775,483
3,064,089
2,582,405
6,493,414
6,162,681
30,708,320
32,579,858
13,322,111
3,330,612
6,462,869
1,983,688
142,922
313,311
699,513
577,996
2,658,663
1,030,412
728,707
I,323,724
109,157
375,529
405,321,335
443,368,583
a 38,047,248
120,391,674
15,406,391
43,847,109
41,782,708
39,778,070
39,630,051
38,900,915
41,404,794
41,774,930
37,979,333
57,030,240
74,263,475
66,260,718
64,223,921
63,982,277
49,090,981
41,864,808
51,122,771
43,918,929
42,978,571
a 30,416,366
a 14,478,010
a 14,445,851
a 14,362,226
a 10,190, 066
a 460,014
a 9,347,841
a 5,939,596
14,051,669
2,641,668
15,296,811
16,808,341
16,738,353
5,324,601
8,757,182
6,392,344
5,148,906
3,187,575
1,497,013
1,955,908
3,102,810
1,279,926
913,467
1,219,638
1,755,451
567,962
1,109,845
140,817,699
144,216,377
147,663,105
153,573,147
157,363,851
160,911,647
164,236,793
167,623,182
174,684,136
181,238,137
171,818,055
167,004,410
233,016,457
218,561,207
215,192,787
207,766,100
220,663,660
236,474,769
223,871,786
225,564,204
226,166,944
215,810,622
195,754,815
209,282,643
189,444,714
217,904,485
243,297,543
239,8'85.162
241,663; 444
246,629,176
228,652,341
231,124,638
245,413,707
254,844,216
294,487,085
307,567,504
300,238,275
292,376,790
294,764,695
274,584,676
269,103,513
284,043,164
CD
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April .
May ..
June..
Total for 12 months.
July
..
August
September.
October
November.
December 1900—January
February.March
April
May
,
June
Total for 12 months.
July
August
SeptemberOctober
NovemberDecember 1901—January
February..
March
April
May
June
Total for 12 months.
July
August
September.
October
November.
December..
1902—January
February ..
March
April
May
June
Total for 12 months.
41,611,587
44,786,014
47,126,915
65,949,106
40,513,005
31,382,762
a 24,337,519
4,273,009
15,744,153
515,960,620
605,072,180
a 8,606,832
4,456,861
7,754,773
3,359,562
6,175,724
7,613,544
8,823,068
7,892,793
16,538,566
4,135,399
4,814,528
17,895,159
245,254,534
248,757,971
254,328,820
252,223,797
239,744,905
236,909,230
218,613,617
232,225,336
248,358,064
229,461,962
218,857,545
220,557,185
274,844,167
279,352,872
287,695,613
289,391,540
286,216,440
283,595,453
292,490, 973
298,362,824
306,792,996
296,117,548
295,783,530
306,827,605
567,240,852
487,713,792
a 4,024,492
a 811,443
6,134,365
3,632,429
7,065,854
6,641,886
7,410,580
6,963,487
9,128,263
5,799,605
10,492,879
17,288,761
587,685,338
509,967,353
52,307,691
39,351,498
32,310,736
40,645,936
40,198,917
37,318,998
• 38,548,278
39,099,291
38,102,437
40,799,263
38,746,798
33,837,859
12,749
6,042,628
12,123,687
9,186,017
5,517,860
9,742,967
8,033,866
2,060,448
8,398,977
4,416,127
10,762,662
15,839,609
471,190,878
91,287,376
562,478,233
Excess of disbursements.
37,522,086
2,895,469
5,391,411
2,593,894
8,542,264
2,904,043
6, 620,246.
1,992, 692
1,911,116
1,921,036
3,388,813
3,683,634
3,728,576
2,606,457
2,099,062
618,995
379,752
264,310
11,857,511
5,691,290
1,403,658
1,081,280
1,961,580
12,209,696
8,093,268
223,567,376
218,263,969
230,131,162
242,670,175
243,235, 735
246,561,322
221,183,644
231,150, 064
249,046,644
246,767,053
244,432,246
248,605,794
249,956,831
258,455,786
251,635,354
259,346,494
257,539,887
262,800,534
239,040,401
238,821,209
244,858,050
242,945,286
246,554,393
253,801,291
299,859,366
285,419,696
.288,204,878
287,005,032
289,176,791
290,107,336
293,012,973
298,915,149
308,443,522
306,494,208
312,338,469
328,406,798
327,368,877
329,971.356
319,919,880
325,655,697
317,010,665
321,603,279
324,796,646
325,361,866
327,856,289
334,739,983
345,350,229
362,187,361
48,266,759
11,263,332
4,238,358
7,861,553
10,731,375
12,641,988
3,386,611
4,265.626
1,859,274
2,520,456
2,249,038
1,772,834
3,260,743
3,272,739
18,084,938
. 806,572
•441,962
677,207
410,633
8,221,169
416,812
490,269
4,916,966
10,101,177
5,344,844
66,051,187
77,717,985
52,320,340
45,394,125
44,434,423
49,831,953
45,716,777
47,061,965
46,582,144
41,159,739
46,501,414
45,215,390
49,509,449
49,677,469
1,162,484
2,049,255
20,908,327
44,573,184
79,527,060
49,955,161
53,979,653
49,688,756
50, 500,199
45,304, 326
39,169,971
51,626,067
47,993, 638
48,344,515
41,278,661
46,846,508
40,204,622
47,520,287
40,109,707
45,844,123
38,880,636
49,891,125 V 40,762,862
47,767,851
41,968,246
52,629,440
42,136,561
50,333,908
33,045,147
2,482,871
3,070,265
3,105,686
88,954,603
263,127,533
267,584,094
284,488,516
a 89,111,560
48,054,258
56,561,090
49, 978,173 . 45,522,312
45,334,145
37,579,372
47,533,589
44,174,027
46,945,672
40, 769,848
46,759,104
39,145,560
48,012,165
39,189,097
45,631,265
37,738,472
48,726,837
32,188,271
45,039, 327
40,903,928
45,166,053
40,351,525
51,435,832 - 33,540,673
246,140,226
228,415,238
240,737,212
53,185,177
4,076,113
3,490,528
11,905,431
9,138,638
7,431,678
2,791,522
1,405,787
1,696,967
2,636,313
1,864,767
1,497,053
4,086,457
2,875,120
150,861
163,362
4,066,747
16,292,500
4,744,123
1,973,675
8,665,480
4,432,946
2,844,214
I,968,407
391,525
52,021,254
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TABLE G.—STATEMENT SHOWING T H E ORDINARY RECEIPTS AND DISBURSEMENTS OP T H E GOVERNMENT BY MONTHS,
Month.
1902—July
August
September
October
November
December
1903—January
February
March
April
May
June
Total for 12 months
July
August
September
October
November
Deceniber
1904—January
February
March
April
May
June
Total for 12 months
July
August
September
October
November
December
1905—January
February
March
April
Ordinary
disburseOrdinary ments, exclureceipts, |sive of postal,
exclusive of principal of
postal.
debt, and
premium.
Surplus
receipts.
$49, 306,691
48, 605,813
48, 580,381
51, 391,262
43, 599,001
47, 151,300
45, 996,338
43, 028,180
45, 435,436
43, 326,101
44, 113,970
48, 354,054
$56,813,568
43,113,611
37,564,798
46,904,965
43,036,273
36,633,744
42,632,244
37,750,750
44,987,587
41,763,814
40,586,997
34,683,738
560,396,674
506,089,022
611,576
852,678
969,819
963,213
692,695
747,592
688,370
895,407
761,499
529,422
688,060
215,414
56,388,189
43,024,545
38,427,964
51,910,479
47,427,788
32,255,806
48,372,554
42,653,772
41,689,398
46,010,265
47,352,973
36,922,015
539,716,914
532,237,821
7,479,093
786,387
903,392
344,683
990,608
576,877
047,905
410,285
608,073
267,756
778,182
64,019,115
51,131,604
40,391,358
52,500,873
49,434,318
41,315,731
49,488,299
41,151,234
44,985,127
48,339,465
a 17,232,728
0 6,228,212
5,953,325
0 3,510,265
0 3,857,441
3,732,174
o 6,078,014
3,456,839
1,282,629
0 8,561,283
Balance in
Net gold Igeneral fund,
in Treasury. including
net gold.
ETC.—Continued.
Imports of
gold.
Exports of
gold.
197,445,631
199,512,294
223,098,966
231,060,229
233,812,615
229,664,318
201,244,581
202,857,181
221,231,681
212,331,729
378,291,444
383,460,710
389,417,184
378,637,402
369,237,430
379,374,895
378,745,084
373,068,505
374,699,996
370,919,188
313,287,516
322,051,568
.304,081,579
297,975,365
301,414,163
296,352,797
293,344,658
296,592,689
290,625,796
290,681,839
291,821,624
284,318,681
$7,884,339
2,305,714
530,029
1,460,829
720,331
2,853,112
86,951
1,506,370
1,042,598
1,705,466
14,488,268
12,507,588
47,090,595
4,631,207
7,848,563
5,184,868
6,026,036
11,370,690
17,230,298
8,226,508
5,034,372
8,855,162
10,289,869
10,472,582
4,886,233
9,117,758
84,776
998,076
352,177
993,150
1,464,656
591,567
732,614
3,063,458
19,470,157
43,069,053
1,522,544
99,065,368
54,307,652
a 7,776,613 248,499,879
6,828,133 253,201,871
6,545,855 260,714,057
258,892,307
a 4,947,266
a 2,735,193 267,Oil, 715
10,491,787 266,571,972.
229,362,090
a 6,784,184
3,242. 635 "236,241,028
3,072;101 248,529,691
0 4,480,843 231,877,090
a 5,664,913 217,592,391
11,293,399 216,183,723
$1,594,421
5,143,597
4,981,130
11,118,446
5,981,743
2,186,636
2,010,851
1,817,456
4,567,728
1,349,621
1,462,845
2,767,563
44,982,027
a$7,507,877 $248,005,006 $363,974,599
5,492,202 264,657,694 369,491,501
371,253,394
286,124,771
11,025,583
356,421,878
263,642,933
4,486,297
354,575,688
264,967,774
'562,728
364,409,380
270,777,264
10,617,566
3,364,094 247,783,746 •368,345,963
5,277,430 269,651,782
374,543,470
372,921,989
• 447,848 276,815,803
373,326,187
1,562,287 262,539,660
375,168,898
3,626,973 256,208,626
254,162,230
388,686,114
13,790,316
o
o
81,459,986
8,925,418
7,764,491
4,241,036
8,046,275
4,727,105
3,336,184
1,895,691
2,192,919
6,133,592
2,581,057
1,083,249
10,762,818
2,744,448
3,855.649
20,813,443
13,502,828
16,828,167
14,794,312
2,392,784
1,303,874
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May
43,758,933
47,950,777
June
Total for 12 months
July
August
September
October
November
December
1906—January
February
March
April
May
June
Total for 12 months.
July
August
September
October
November
December
1907—January
February
March
April
May
June
,
,
,
,
Total for 12 months.
July
August
September
October
November
December . :
1908—January
February
March
April
May
.•
June
Total for 12 months.
46,048,144
34,687,523
o2,289,211
13,263,254
544,606,758
563,360,093
61,591,481
50,600,327
40,510,622
54,589,836
46,211,544
42,830,311
45,671,353
41,409,095
43,665,323
45,141,796
43,124,646
34,001,856
o 12*, 318,347
0 3,109,895
9,740,537
0 4.097,144
2,789,325
7,520,152
6,018,743
6,785,633
6,965,846
0 48,928
4,855,378
21,365,225
594,717,942
549,405,425
0 11,184,710
10,010,095
12,342,390
4,563,526
8,959,618
11,315,524
9,604,983
9,942,348
14,071,020
7,936,760
11,547,167
24,236,442
663,125, 659
551,705,129
55,906,465
58.226.282
6i;438,483
59,028,246
45,529,326
47,283,828
49.435.283
48,324,900
44,616,965
43,919,321
42,698,053
53,488,613
60,864,924
52,995,047
44,646,469
45,588,297
41,624,354
52,824,750
53,690,291
64,173,201
49,156,796
56,648,191
51,485,228
47,956,647
o 4,958,459
5,431,235
6,792,014
13,439,949
3,904,972
0 5,540,922
0 4,255,008
0 5,848,301
0 4,539,831
o12,728,870
0 8,787,175
5,631,966
601,060,723
621,102,390
o 20,041,667
319,963,942
3^0,686,875
37l, 213,096
373,300,810
381,470,287
388,997,076
394,708,206
400,154,655
402,868,003
401,388,342
407,629,665
422,061,445
o Excess of disbursements.
293,670,624
284,300,724
280,808,512
237,987,860
245,500,658
249,344,971
217,476,100
210,382,518
204,492,080
193,772,017
213,684,683
221,924,733
388,574,188
386,660,408
389,551,314
387,227.019
400,551,014
419,519,991
416,417.301
418,845,804
412,608,191
401,596,987
390,933,256
395,171,348
92,594,024
4,973,241
3,213,216
5,543,692
10,722,132
5,202,790
. 4,028,881
2,605,709
2,079,683
5,630,695
14,941,583
34,911,028
2,369,080
1,159,274
274,153
1,412,904
310,696
1,137,318
2,668,532
5,741,665
8,486,330
5,918,627
2,485,552
5,722,148
3,266,392
38,573,591
tei
9,834,333
7,972,868
31,431,038
27,250,852
8,935,274
7,617.237
3,270,505
3,329,867
6,046,243
4,974,527
2,682,163
2,166,342
1, 302,248
598,078
2,278,922
7,074,544
1,963,757
1.880,895
2,460,072
1,127,059
2,126,173
2,219,844
4,506,444
23,872,140
t
114,610,249
290,313,454
311,358,446
313,714,775
302,973,951
317,952,371
313,999,622
285, on, 577
310,617,216
310,760,992
296,040,433
292,821,224
304,619,431
111,420,530
52,298,853
56,007,597
51,497,191
57,241,999
55,602,498
55,812,980
55,237,500
63,925,496
54,221,954
63,260,692
57,488,012
62,711,463 ^
481,570
. 4,030,882
96,221,730
279 865,731
277,597,345
286,823,693
281,815,289
285,310,840
289,780,373
293,885,083
302,718,086
309,859,322
307,126,224
310,385,376
330,689,355
45,312,517
63,483,563
45,997,502
39,154,801
52,678,473
46,642,880
44,497,456
45,732,517
43,983,148
40,150,934
45,324,832
45,940,845
38.475,021
224,372,884
235,465,627
263,331,814
273.076.079
285,582,811
284.836.080
259,856,877
276,418,068
284,378,284
260,229,777
269,690,707
290,489,841
2,657,143
2,149,051
53,648,961
281,141,378
295,477,492
o18,763,335
49,273,134
47,490,432
50,251,159
50,492,692
49,000,869
50,350,463
50,790,096
48,194,728
50,631,169
45,092,868
47,980,024
55,367,081
218,172,921
221,381,650
51,399,176
3,410,782
3,223,772
2,759,019
4,512,466
63,574,871
44,448,515
10,799,484
2,847,133
3,649,407
2,661,197
3,101,002
3,449,673
7,478,366
4,596.879
1,503,836
3,716,258
616,169
1,004,441
444,200
1,967,597
1,447,206
14,476,341
26.555,913
8,626,718
tei
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148,337,321
72,432,924
zn
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TABLE G.—STATEMENT SHOWING T H E ORDINARY RECEIPTS AND DISBURSEMENTS OF THE GOVERNMENT BY MONTHS, ETC.^-Continued.
Month.
1908—July
J.
August
September
October
November
December
1909—January
February
March
April
May
June
Surplus
receipts.
Balance in
Net gold [general fund
in Treasury.
including
net gold.
Imports of
gold.
•-...
-
Total for 12 months
$71,390,958 o$22,201,112 $230,238,004 $353,628,173
48,114,783
o3,434,144
214,915,576
339,890,139
52,209,676
222,058,604
329,052,573
o3,986,118
56,858,544
316.882,253
o 8,553,719 232,051,793
58,302,928
228,201,751
301,387,362
08,394,213
56,384,477
232,703,457
319,501,417
05,187.267
58,653,229 012,394,090
204,776.864
299,701,585
51,693,985
291,263,813
0 4,018,417 234,0941571
53,857,118
283,934,071
0 302,516 240,173,188
235,590,916
277,433,835
, 52,044,182
o765,970
54,905,487
0 489,379 224,263,038 269,901,309
227,698,852
276,375,428
47,909,128
10,990,990
$2,949,179
4,303,847
4,767,051
3,786,705
2,909,883
5,162,732
3,420,183
3,576,444
5,161,648
3,345,861
2,263,721
2,367,735
$4,845,272
6,599,742
3,974,391
1,952,574
2,967,795
7,357,707
7,865,356
8,860,814
21,252,462
6,337,994
11,171,265
8,346,446
603,589,490
662,324,445
068,734,955
44,003,989
91,531,818
577,081
081,777
347,659
176,765
727,571
968,269
322,176
278,783
161,772
153,620
608,384
117,958
70,681,030
58,490,754
52,968,845
59,100,660
56,318,678
53,239,067
52,046,922
49,238,877
51,597,331
53,807,033
48,179,671
54,036,523
013,103,949
0 7,408,977
o621,186
o 1,923,895
0 4,591,107
3,729.202
01,724,746
1,039,906
8,554,441
o 653,513
3,428,713
29,081,435
659,705,391
16,806,324
235,720,333
237,184,857
242,873,342
254,735.467
250,567,638
241,989,339
220,256,764
226,656,329
247,576,175
244,001,134
229,620,847
242,411,286
258,437,755
247,950,871
244,206,114
239,103,078
23?, 935,125
234,048,866
230,960,864
230,571,813
238,885,265
233,462,139
232,165,417
256,894,676
3.269;886
5,348,757
2,361,168
7,034,164
3,863,637
2,083,772
2,131,357
3,063,116
4,373,885
2,100,918
3,143,338
4,576,917
43,339,905
16,661,782
9,230,273
7, 546,442
9,379,402
16,649,281
10,679, 304
6,163,132
2,937,134
1,815,815
36,283,625
718,678
1,598,347
118,663,215
a Excess of disbursements.
NOTE.—The above figures are exclusive of disbursements for the Panama Canal, t h e first payments for which occurred in the fiscal year 1903.
NOTE.—The receipts and disbursements by months were made up from partial reports prior to July 1, 1908; and, being subject to change by subsequent concentration of
accounts, did not agree with the totals by years. The latter are the actual results, as shown by complete returus.
O
to
Exports of
gold.
$49, 189,846
44, 680,639
48,224,558
48,304,825
49,908,715
51,197,210
46,259,139
47, 675,568
53,554,602
51,278,212
54,416,058
58,900,118
Total for 12 months.
July
August
September
October
November
December
1910—January
February
March
April
May
June
Ordinary
disburseOrdinary ments, exclureceipts,
sive of postal
exclusive of principal of
postal.
debt, and
premium.
W
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W
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SECBETAEY OF THE TEEASUKY.
103
T A B L E H . — S T A T E M E N T OP THE BALANCE IN THE G E N E R A L F U N D OF THE T R E A S U R Y ,
INCLUDING THE GOLD R E S E R V E , BY CALENDAR Y E A R S FROM 1791 TO 18.42, AND BY
FISCAL Y E A R S PROM 1843 TO 1910.
Balance in
general fund,
including .
gold reserve
since 1875,
Date.
1791—December 3 1 :
1792—December 3 1 - - t
1793—December 31
1794—December 31
1795—December 31
1796—December 31
1797—December 31
179g—December 31-.1799—December 31
1800—December 31 - 1801—December 31
1802—December 31 - .
1803—December 31
1804—December 31
1805—December 31
1806—December 31
1807—December 31
1808—December 3 1 . .
1809—December 31
1810—December 31
1811—December 31
1812—December 31
1813—December 31
1814—December 31
1815—December 31
1816—December 31
1817—December 31
1818—December 31
1819—Deceraber 31
1820—December 31
1821—December 31
1822—December 31
1823—December 31
1824—December 31
1825—December 31
1826—December 31
1827—Deceraber 31
1828—December 31
1829—December 31
1830—December 31
1831—December 3 1 - . 1832—December 31
1833—December 31
1834—December 31
1835—December 31
1836—December 31
1837—December 31
1838—December 31
1839—December 31
1840—Deceraber 31
1841—Deceraber 31
1842—December,31
1843—June 30
1844—June 3 0 . - - 1845—June 30
1846—June 30
1847—June 30
1848—June 30
1849—June 30
1850—June 30
:..
-
- .
-
$973,905,75
783,444.51
753,661.69
1,151,924.17
516,442.61
888,995.42
1,021,899.04
617,451.43
2,161,867.77
2,623,311,99
3,295,391.00
5,020,697.64
4,825,811.60
4,037,005.26
3,999,388.99
4,538,123.80
9,643,850.07
9,941,809.96
3,848,056.78
2,672,276.57
3,502,305.80
3,862,217.41
5,196,542 00
1,727,848.63
13,106,592 88
22,033,519,19
14,989,465.48
1,478,526.74
2,079,992.38
1,198,461.21
1,681,592 24
A193,690.68
9,431,353.20
1,887,799.80
5,296,306.74
6,342,289.48
6,649,604.31
5,965,974.27
& 4,362,770. 76
4,761,409.34
3,053,513.24
911,863.16
10,658,283.61
7,861,093.60
25,729,315.72
45,756,833.54
c6,804,953.64
6,633,715.23
4,683,416.48
1,704,561.80
375,692 47
2,079,908.13
11,195,156.21
8,612,850.23
8,110,649.86
9,683,869.83
5,446,382.16
758,33215
3,208,822.43
. 7,431,022 72
Date.
1851—June 30
1852—June 30
1853—June 30
1854—June 3 0 . . . :
1855—June 30
1856—June 30
.'
1857—June 30
1858—June 30
1859_June30
1860—June 30
1861—June 30
. .
1862—June 30
1863—June 30
1864—June 30
1865—June 30
1866—June 30
1867—June 30
1868—June 30
1869—June 30
1870—June 30
187i_June30
....
1872—June 30
1873—June 30
1874—June 30
1875—June 30
1876—June 30
1877—June 30
O-T.
1878—June 30
1879_June30
1880—June 30
1881—June 30
1882—June 30
1883—June 30
1884—June 30
1885—June 30
1886—June 30
1887—June 30
. . .
1888—June 30
-.
1889—June 30
1890—June 30
1891—June 30
1892—June 30
1893—June 30
1894—June 30 . .
1895—June 30
1896—June 30
1897—June 30
1898—June 30
1899—June 30
1900—June 30
1901—June 30
1902—June 30
1903--June30
1904—June 30
1905—June 30
1906—June 30- 1907_June30
1908—June 30
1909—June 30
1910—June 30
Balance in
general fund,
including
gold reserve
since 1875.
$12,142,193,97
15,097,880.36
22,286,462 49
20,300,636.61
19,529,841.06
20,304,844.78
18,218,770.40
6,698,157.91
4,685,625,04
3,931,287,72
2,005,285.24
18,265,984.84
8,395,443.73
112,002,776.10
26,440,930,29
112,476,770.66
161,175,174.31
115,133,529.82
126,542,842.77
113,485,981,01
91,739,739,00
74,437,358.54
59,762,346,64
72,159,597.17
63,274,721.71
58,947,608.99
91,694,006.29
177,°498,846.7I
367,054,575.14
• 168,299,404.40
182,678,977,44
162,323,331,14
161,382,637,70
. . 165,046,380.59
182,622,360,17
232,099,178,05
207,600,698.44
244,094,169.01
.210,737,083.76
190,841,184.72
156,847,826.49
129,178,792.53
124,824,804.94
118,885,988.16
196,348,193.17
269,637,307,07
244,466,201.95
209,282.643.13
284,M88;516.20
306,827,605.37
328,406,798,13
362,187,361,16
388,686,114.23
322,051,568.02
295,477,491.89
330,689,354.82
422,061,445.47
395,171,347.73
276,375,428.10
256,894,675.67
o This statement is made from warrants paid by the Treasurer of the United States to Dec. 31, I82I,
and by warrants issued after that date.
b The unavailable funds are not included from and after this date.
cThe amount deposited with the States under act of June 23,1836, having been taken out of the control
of the Treasury Department by the act of Oct. 2,1837, is not included from and after this date.
T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S OF THE U N I T E D STATES.
RECAPITULATION
O
OF RECEIPTS BY FISCAL YEARS.
O r d i n a r y receipts.
Miscellaneous.
Year.
Customs,
I79I
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803 .
1804
1805
1806
1807 - 1808
1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823 1824
1825
1826
:
$4,399,473,09
3,443,070.85
4,255,306.56
4,801,065.28
5,588,46L26
6,567,987.94
7,549,649,65
7,106,061,93
6,610,449.31
9,080,932 73
10,750,778,93
12,438,235,74
10,479,417.61
11,098,565.33
12,936,487.04
14,667,698,17
15,845,521-. 61
16,363,550,58
7,257,506,62
8,583,309,31
13,313,222 73
8,958,777.53
13,224,623.25
5,998,772 08
7,282,942 22
36,306,874,88
26,283,348.49
17,176,385,00
20,283,608.76
15,005,612,15
13,004,447.15
17,589,761,94
19,088,433.44
17,878,325,71
20,098,713.45
23,341.331.77
Internal
revenue.
$208,942 81
337,705,70
274,089.62
337,755.36
475,289.60
575,491.45
644,357,95
779,136,44
809,396,55
1,048,033,43
621,898.89
215,179.69
50,941,29
21,747,15
20,101,45
13,051,40
8,190,23
4,034,29
7,430,63
2,295,95
4,903,06
4,755,04
1,662,984.82
4,678,059,07
5,124,708.31
2,678,100.77
955,270.20
229,593,63
106,260,53
69,027,63
67,665,71
34,24217
34,663.37
25,771.35
21,589.93
Sales of p u b l i c
lands.
Dhect tax.
$4,836,13
83,540.60
11,963.11
443.75
167,726.06
188; 628.02
165,675,69
487,526.79
540,193. 80
765,245.73
466,163. 27
647,939,06
442,252 33
696,548.82
1,040,237.53
710,427.78
835,655,14
1,135,971.09
1,287,959.28
1,717,985.03
1,991,226.06
2.606,564,77
3;274,422.78
• 1,635,871.61
1,212,966,46
1,803,58L 54
916,523.10
984,418.15
1,216,090,56
1,393,785,09
$734,223,97
534,343,38
206,565.44
71,879,20
50,198, 44
21,882 91
55, ^ 3 . 8 6
34,732 56
19,159,21
7,517,31
12,448. 68
7,666.66
859.22
3,805.52
2,219,497,36
2,162,673,41
4,253,635,09
1,834,187,04
264,333,36
83,650,78
31,586.82
29,349.05
20,961,56
10,337.71
6,201,96
2,330.85
6,638.76
O t h e r miscellaneous items.0
$10,478.10
17,946.65
59,910.88
356,749.97
193,117,97
1,372,215,98
480,099.29
216,787,81
157,227.56
223,752.10
444,574,15
1,540,465.86
131,945.44
- 139,075,53
40,382 30
51,121.86
38,550.42
21,822 85
62,162.57
84,476.84
59.211.22
126,165,17
271,871,00
164,485.60
296,824.58
342,447.51
580,006,52
583,030.33
732,098.42
1,061,338,44
257,589,43
750,457,19
491,129,84
477,603,60
497,951,81
497,088.66
Total ordinary
receipts.
$4,409,951,19
3,669,960.31
4,652,923.14
5,431,904.87
6,119,334.59
•8,420,329. 65
8,688,780.99
7,979,170.80
7,546,813.31
10,848,749.10
12,945,455.95
14,995,793.95
11,064,097.63
11,826,307.38
13,560,693,20
15,559,931,07
16,398,019,26
17,060,661.93
7,773,473.12
9,384,214.28
14,422,634.09
9,801,132 76
14,340,709.95
11,181,710.95
15,708,458,56
47,745,650,82
33,366,868,88
21,585,583.66
24,603,374.37
17,840,669.55
14,573,379.72
20,232,427,94
20,540,666,26
19,381,212 79
21,840,858,02
25,260,434.21
Postal
revenue.
$71,295.93
92,988.40
.103,883,19
129,185,87
163,794.54
195,043,44
213,992 74
233,144.73
264,850.39
280,806,06
320,444.81
326,831.65
359,^52 41
389,711.49
422,129.07
446,520.34
484,134.45
460,717.77
506,633,95
551,754.97
587,266.73
649,151,22
703,220,73
730,953,13
1,043,021.74
961,718.04
1,002,973,26
1,130,202 99
1,204,737,39
1,111,760,72
1,058,30210
1,117,555.36
1,130,214,35
1,197,298,93
1,306,253.59
1,447,660.04
S u r p l u s (-I-) or
Total ordinary
deficit ( - ) on
receipts a n d o r d i n a r y receipts,
postal revenue. i n c l u d i n g p o s t a l
deficiencies.
$4,481,247.12
-1-S1,312,498,64
3,762,948.71
- 4,599,909.44
4,756,806.33
4805,993,24
5,561,090.74
— 865,917,17
6,283,129,13
— 1,190,266,19
8,615,373.09
-f- 2,629,678,82
8,902,773,73
-\- 2,680,153.74
8,212,315,53
+
371,584.48
7,811,663,70
- 1,749,004.82
11,129,555,16
-f
34,778.09
13,265,900,76
-f 3,551,955.99
15,322,625.60
-H 7,019,541,88
11,424,050.04
-f 3,111,811,03
12,216,018,87
-h 3,188,399,73
13,982,822 27
-f 4,546,344.36
16,006,45L41.
-f 6,110,753.45
16,882,153,71
-\- 8,043,867,89
17,521,379.70
-h 7,999,248.85
8,280,107,07
— 2,507,273.92
9,935,969,25
-f
909,460.91
15,009,900,82
-f 6,244,593.66
10,450,283,98
— 10,479,638,51
15,043,930,68
—17,341,142.19
11,912,664.08
—23,549,214.47
1&, 751,480.30
-17,235,202.68
48,707,368,86
-M6,549,294.90
34,369,842.14
-1-13,375,976.41
22,715,786,65
-f- 1,566,955.85
25,808,111,76
-f- 3,091,370,37
18,952,430.27
— 444,865.34
15,631,681,82
- 1,276,173.14
21,349,983.30 . -1- 5,231,995.64
21,670,880,61
-1- 5,834,036.27
20,578,511,72
892,489,85
23,147,111.61
-t- 5,983,640.68
26,708,094.25
1 + 8,232,574.99
o
o
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1-3
W
tei
fei
fef,
o.
tef
zn
1827 18281829.
1830.
18311832.
18331834.
1835.
1836.
1837.
18381839184018411842.
184318441845.
1846.
1847.
18481849.
18501851.
1852.
1853.
1854.
1855185618571858.
1859.
1860.
1861 .
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871 .
1872.
1873 .
1874.
1875 .
1876.
19,712, 283.29
23,205, 523.64
22,681, 965,91
21,922, 391,39
24,224, 441.77
28,465, 237.24
29,032, 508.91
16,214, 957,15
19,391, 310, 59
23,409, 940,53
II, 169,290. 39
16,158, 800.36
23,137, 924. 81
13,499, 502.17
14,487, 216. 74
18,187, 908. 76
7,046, 843.91
26,183: 570.94
27,528: 112 70
26,712: 667. 87
23,747; 864. 66
31,757, 070.96
28,346: 738. 82
39,668: 686.42
49,017; 567. 92
47,339, 326. 62
58,931, 865. 52
64,224, 190. 27
53,025, 794. 21
64,022, 863. 50
63,875, 905,05
41,789, 620, 96
49,565, 824.38
53,187, 511.87
39,582, 125. 64
49,056, 397.62
69,059, 642.40
102,316, 152.99
84,928, 260, 60
179,046, 651. 58
176,417, 810.88
164,464, 599, 56
180,048, 426, 63
194,538, 374. 44
206,270, 408.05
216,370, 286. 77
188,089, 522. 70
163,103, 833, 69
157,167, 722^35
148,071,984. 61
19,885.68
17,451.54
14,502 74
12,160.62
6,933.61
11,630.65
2,759,00
4,196,09
10,459,48
370. 00
5,493.84
2,467.27
2,553. 32
1,682 25
3,261.36
495. 00
103. 25
1,777. 34
3,517.12
2,897.26
375. 00
375. 00
37,640,787. 95
109,741,134.10
209,464,215.25
309,226,813. 42
266,027,537.43
191,087,589. 41
158,356,460.86
184,899,756.49
143,098,153.63
130,642,177. 72
113,729,314.14
102,409,784.90
110,007,493.58
116,700,732 03
1,495,845,26
1,018,308.75
1,517,175.13
2,329,356.14
3,210,815.48
2,623,381.03
3,967,682. 55
4,857,600.69
14,757,600.75
24,877,179.86
6,776,236, 52
3,730,945. 66
7,361,576.40
3,411,818. 63
1,365,627. 42
1,335,797. 52
898, 158.18
2,059,939. 80
2,077,022. 30
2,694,452. 48
2,498,355. 20
3,328,642. 56
1,688,959. 55
1,859,894. 25
2,352,305. 30
2,043,239. 58
1,667,084. 99
8,470,798. 39
11,497,049. 07
8,917,644. 93
3,829,486,64
3,513,715,87
1,756,687.30
1,778,557. 71
870, 658.54
152, 203.77
167, 617.17
588, 333. 29
996, 553.31
665, 031.03
1,163,575,76
1,348,715,41
4,020,344.34
3,350,481.76
2,388,646, 68
2,575,714.19
2,882,
1,852,312 38
1,413,428,93
1,129,640,17
466.95
2,626.90
2,218,81
11,335.05
16,980,59
10,506.01
6,791.13
394.12
19.80
4,263.33
728.79
1,687.70
. 755.22
1,795,33L73
1,485,103.61
475,648.96
1,200,573,03
1,974,754.12
4,200,233.70
1,788,145.85
765,685.61
229,102.88
580,355.37
315,254.51
93,798.80
1,735,722.83
520, 126.49
602, 648.55
563, 227.77
1,074,124.05
760, 410.61
945, 081.67
715, 161.82
1,266,452.95
2,538,576.90
7,001,444. 59
6,410,348. 45
979, 939. 86
2,567,112 28
1,004,054. 75
451, 995. 97
285, 895.92
1,075,419. 70
361, 453. 68
289, 950.13
220, 808. 30
612, 610. 69
685, 379.13
2,064,308. 21
1,185,166.11
464, 249. 40
988, 081.17
1,105,352. 74
«27, 731. 40
1,116,190.81
1,259,920.88
1,352,029.13
1,454,596.24
1,088,530.25
1,023,515.31
915, 327.97
3,741,794.38
49,590,595.99
30,693,916.49
66,903,930,19
29,192,365,70
39,680,390.13
26,373,628.03
28,236,255.67
30,986,381.16
24,518,688,88
28,721,800.94
37,612,708.54
19,411 195.00
27,794 148,11
22,966,363.96
24,763,629.23
24,827,627.38
24,844,116, 51
28,526,820,82
31,867,450,66
33,948,426.25
21,791,935. 55
35,430,087.10
•50,826,796. 08
24,954, 153. 04
26,302,561. 74
31,482, 749. 61
19,480, 115. 33
16,860, leO. 27
19,976, 197. 25
8,231,001. 26
29,320, 707. 78
29,970, 105. 80
29,699,967. 74
26,467, 403.16
35,698,699. 21
30,721,077. 50
43,592,888. 88
52,555: 039.33
49,846; 815. 60
61,587, 031. 68
73,800,341. 40
65,350,574. 68
74,056,699. 24
68,965,312. 57
46,655,365.96
52,777, 107, 92
56,054,599.83
41,476,299, 49
51,919;261.09
112,094,945.51
262,71i;865.33
327,283,518.68
557,817,230.34
477,001,523,47
398,369,440,36
369,564,545. 47
411,253,971.24
383,323,944.89
374,106,867.56
333,738,204. 67
304,978,756.06
288,000,051.10
293,790,130.50
1,524,601.79
1,660,276.46
1,778,471.83
1,919,313,70
2,105,721.94
2,258, 570.17
2,617,011,88
2,823,749.34
2,993, 556.66
3,408, 323.59
4,945, 668. 21
4,238, 733. 46
4,484, 656. 70
4,543, 521.92
4,407, 726. 27
4,546, 849. 65
• 4,296,225. 43
4,237, 287.83
4,289: 84L80
3,487; 199.35
3,880, 309.23
4,555, 211.10
4,705, 176. 28
5,499, 984. 86
6,410, 604. 33
5,184, 526.84
5,240, 724. 70
6,255, 586. 22
6,642, 136.13
6,920,821. 66
7,353, 951.76
7,486, 792.86
7,968, 484.07
8,518,0.67,40
8,349, 296,40
8,299,820,90
11,163, 789,59
12,438, 253,78
14,556; 158,70
14,436, 986,21
15,297, 026.87
16,292, 600. 80
18,344, 510.72
19,772, 220.65
20,037, 045. 42
21,915, 426,37
22,996,741.57
26,471,071.82
26,791, 360.59
28,644, 197.50
24,490, 965.75
26,423, 905.69
26,606, 099.21
26,763, 430,21
30,632, 542 70
34,126; 020.83
36,565, 438.13
24,615, 648,89
38,423, 643.76
54,235, 119, 67
29,899, 821, 25
30,541, 295, 20
35,967, 406.31
24,023, 637.25
21,267, 886.54
24,523, 046. 90
12,527, 226.69
33,557, 995. 61
34,259, 947.60
33,187, 167.09
30,347, 712 39
40,253, 910. 31
35,426, 253. 78
49,092, 873. 74
58,965, 643. 66
55,031, 342. 44
66,827, 756. 38
80,055, 927. 62
71,992, 710. 81
80,977, 520,90
76,319, 264.33
54,142: 158.82
60,745: 591.99
64,572, 667,23
49,825: 595.89
60,219, 081,99
123,258: 735.10
275,150: 119.11
341,839: 677,38
572,254, 216.55
492,298; 550.34
414,662, 041,16
387,909, 056.19
431,026, 191.89
403,360, 990.31
396,022, 293.93
356,734, 946.24
331,449, 827,88
314,791, 411,69
322,434, 328,00
+ 6,827,196.80
-\- 8,368,787.18
-f- 9,643, 573,75
-h 9,702 008.25
-f- 13,289, 004.18
-1- 14,578, 500,39
-h 10,930,874.27
+ 3,164,365.32
+ 17,857,273.74
-f 19,958, 632 04
- 12,289,061.20
- 7,562, 152,82
+ 4,585, 966.99
- 4,834, 402,86
- 9,'621,657.57
- 5,158, 689.19
- 3,549,091.25
-b 6,837, 147, 64
+ 7,034, 278.01
-+- 2,438, 784,88
- 28,453,380,93
- 11,919,521, 44
- 12,778,000.89
+ 2,644,505. 76
-\- 4,803, 560. 92
-f 5,456, 563.24
-I- 13,843, 042.59
-f 18,761, 886.29
+ 6,719, 911, 97
-f 5,330, 349.23
-h 1,330, 903.64
- 27,327, 126.88
- 16,216,49L85
- 7,146,275.82
- 25,173; 913.59
-417,650, 980.56
-606,639, 330.67
-602,257, 235.50
-967,815, 770.90
-f 38,794, 874.00
-f 130,272,197,69
-h 28,030, 306,54
-}- 48,373, 947,72
4-117,596, 966,09
-f 100,163,551.38
-f 103,547,171.65
-f- 48,498, 879.33
-{• 3,739, 955.85
-f 13,376, 658.26
4- 28,689, 045.91
a Including profits on coinage, payments by Pacific railways, tax on national-bank circulation, forest reserve fund, head tax on immigrants, fees, fines, and penalties, rent and sale
of govermnent property. District of Columbia receipts, etc.
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O
OX
T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S OF T H E U N I T E D
STATES—Continued.
O
R E C A P I T U L A T I O N O F R E C E I P T S B Y FISCAL YEARS—Continued.
Ordinary receipts.
Miscellaneous.
Year.
Customs.
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886..-.
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
..
-
-r^
t-
$130,956,493.07
130,170, 680,20
137,250,047,70
186; 522.064, 60
198,159, 676.02
220,410, 730.25
214,706, 496.93
195,067, 489.76
181,471, 939.34
192,905,023.44
217,286, 893.13
219,091, 173.63
223,832,741.69
229,668, 584.57
219,522,205.23
177,452, 964.15
203,355, 016.73
131,818,530.62
152,158, 617.45
160,021,751.67
176,554, 126,65
149,575, 062.35
206,128,481,75
233,164,871.16
238,585,455,99
254,444,708,19
284,479,581.81
261,274,564,81
261,798,856,91
300,251,877.77
332,233, 362.70
286,113, 130.29
300,711,933,95
333,683,445,03
Internal
revenue.
$118,630, 407,83
110,581, 624.74
113,561, 610. 58
124,009, 373,92
135,264, 385,51
146,497, 595.45
144,720, 368,98
121,586, 072 51
112,498, 725.54
116,805, 936,48
118,823, 391.22
124,296, 871.98
130,881, 513.92
142,606, 705.81
145,686, 249.44
153,971, 07257
161,027, 623.93
147, i n ; 232.81
143,421, 672.02
146,762, 864.74
146,688, 574.29
170,900, 641,49
273,437, 161,51
295,327, 926,76
307,180, 663,77
271,880, 122.10
230,810, 124.17
232,904, 119.45
234,095, 740.85
249,150, 212.91
269,666, 772 85
251,711, 126.70
246,212, 643.59
o289,933, 519.45
Sales of p u b l i c
Lands.
$976,253,
1,079,743,
924,781
1,016,506,
2,201,863,
4,753,140.
7,955,864.
9,810,705.
5,705,986.
5,630,999.
9,254,286.
11,202,017.
8,038,651.
6,358,272
4,029,535.
3,261,875.
3,182,089.
1,673,637.
1,103,347.
1,005,523.
864,581.
1,243,129.
1,678,246,
2,836,882
2,965,119.
4,144,122
8,926,311.
7,453,479.
4,859,249.
4,879,833.
7,878,811,
9,731,560,
7,700,567.
6,355,797.
Direct t a x .
$30,85
1,516,89
160,141,69
108,156.60
70,720,75
108,239,94
32,892.05
1,565,82
O t h e r miscellaneous items.
Total ordinary
• receipts.
$30,687,068,20 $281,250, 222.78
15,931, 830,39 257,763, 878,70
20,593, 801.87 272,330; 241.21
21,978: 525.01 333,526, 500,98
25,154: 850,98 360,782, 292 57
31,703: 642 52 403,525 250.28
30,796: 695.02 398,287,581,95
21,984; 881.89 348,519, 1.92
24,014,055.06 323,690; 706.38
20,989,527.86 336,439, 727,06
26,005,814.84 371,403, 277,66
24,674,446.10 379,266,074.76
24,297,151,44 387.050,058,84
24,447,419,74 403,080, 982.63
23,374 457.23 392,612, 447.31
20,251 871.94 354,937, 784.24
18,254; ; 34 385,819, 628.78
17,118, 618! 52 297,722, 019.25
16,706,438.48 313,390, 075.11
19,186,060.54 326,976, 200.38
23,614,422.81 347,721, 705,16
83,602,501.94 405,321, 335.20
34,716 730.11 515,960, 620.18
35,911,170,99 567,240,851.89
38,954, 098.12 587,685, 337,53
32,009,280.14 562,478, 233.21
36,180, 657,20 560,396, 674.40
38,084,749.88 539,716, 913.86
•43,852,911.06 544,606,758, 62
40,436, 017.99 594,717, 942.32
53,346,713; 24 663,125, 659.92
53,504,906,05 601,060, 723. 27
48,964,344,52 603,589,489.84
45,538,953.05 675,511, 715.02
a I n c l u d e s $20,951,780.97 corporation t a x .
Postal
revenue.
$27,531, 585.26
29,277, 516.95
30,041, 982,86
33,315, 479.34
36,785, 397.97
41,876, 410.15
45,508, 692.61
43,325, 958,81
42,560, 843.83
43,948, 422 95'
48,837, 609.39
52,695 176.79
56,175, 611.18
60,882, 097,92
65,931, 785.72
70,930, 475.98
75,896, 993.16
75,080, 479,04
76,983, 128,19
82,499, 208.40
82,665, 462.73
89,012, 618,55
95,021, 384.17
102,354, 579,29
111,631, 193.39
121,848, 047.26
134,224, 443,24
143,582 624,34
152,826, 585.10
167,932, 782,95
183,585, 005.57
191,478, 663.41
203,562, 383.07
224,128, 657.62
S u r p l u s (-f) or
deficit (—) o n
Total ordinary
r e c e i p t s a n d o r d i n a r y receipts,
postal revenue. including postal
deficiencies.
$308,781 808.04
287,04i; 395. 65
302^372, 224.07
366,841, 980.32
397,567, 690.54
445,401, 660.43
443,796, 274.56
391,845, 828.73
366,251, 550.21
380,388 150.01
420,240, 887.05
431,961 251.55
443,225, 670.02
463,963 080,55
458,544, 233.03
4 2 5 , " " 260.22
461,716, 621.94
372,802, 498.29
390,373, 203.30
409,475; 408,78
430,387, 167.89
494,333; 953.75
610,982, 004.35
669,595, 431.18
699,316, 530,92
684,326, 280,47
694,621, 117,64
683,299, 538,20
697,433, 343.72
762,650, 725,27
846,710, 665,49
792,539 386,68
807,151, 872.91
899,640, 372 64
-fS39, 915,747.92
4- 20, 799,551.90
4- 5, 382,357.68
,
4- 68, 678,863.62
4-101,130,653. 76
4-145,543,810.71
4-132,879,444. 41
4-104,393,625. 59
f
O
63, 463,771. 27
4- 93, 956,588. 56
4-103,471,097. 69
4-119,612,116. 09
4-105,053,443. 24
4-105,344,496. 03
4- 37, 239,762. 57
9 914.453. 66
,
2,341,674. 29
69,803,260,58
42,805,223.18
25,203,245. 70
18,052.454. 41
38,047,247. 60
89,111, 559. 67
4- 79, 527,060.18
4- 77, 717,984. 38
4- 91, 287,375. 57
4-54, 307,652. 36
+ 7 479,092 55
,
- 18,753,335. 00
4- 45, 312,516. 97
4-111, 420,530.88
- 20,041,667. 37
- 58,734,954. 93
4- 15, 806,323. 94
+
+
-
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Public debt receipts.
Panama Canal
receipts—proceeds of bonds
Proceeds of
Premiuin
Total public
and premium. bonds and other
debt.
received.
securities.
Year.
1791
1792
1793
1794
1795.
1796-..
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
.
.-
$361,391.34
• 5,102,498.45
1,797,272.01
4,007,950.78
3,396,424.00
320,000.00
70,000,00
200,000.00
5,000,000.00
1,565,229,24
$361,391.34
5,102,498.45
1,797,272 01
4,007,950.78
3,396,424.00
320,000.00
70,000.00
200,000.00
5,000,000.00
1,565,229.24
2,750,000.00
-
:
2,750,000.00
12,837,900.00
26,184,135..00
23,377,826.00
35,220,671.40
9,425,084.91
466,723.45
8,353.00.
2,291.00
3,000,824.13
5,000,324.00
f
12,837,900,00
26,184,135.00
23,377,826.00
35,252,779.04
9,425,771.00
466,723.45
8,353.00
2,291.00
3,040,824,13
5,000,324.00
5,000,000.00
5,000,000.00
$32,107.64
686.09
40,000.00
5,000,000.00
5,000,000,00
Excess of deposits to retire
national-bank
notes over
redemptions.
'
Total of all
receipts.
Surplus (4-) or
deficit (—) on
all receipts.
$4,842,638,46
8,865,447.16
6,554,078.34
9,569,04L52
9,679,553.13
8,935,373.09
8,972,773.73
8,412,315.53
12,811,663.70
12,694,784,40
13,265,900.76
15,322,625.60
11,424,050,04
12,216,018,87
13,982,822 27
16,006,45L4I
16,882,153.71
17,521,379.70
8.280,107.07
12,685,969.25
15,009,900.82
23,288,183.98
41,228,065.68
35,290,490.08
52,004,259.34
58,133,139.86
34,836,565,59
22,724,139,65
25,810,402.76
21,993,254.40
20,632,005,82
21,349,983.30
21,670,880.61
25,578,511.72
28,147,111.61
26,708,094,25
24,490,965.75
26,423,905.69
26,606,099.21
26,763,430.21
4- $978,088,02
— 174,059.44
60.66
4- 432,050,82
— 596,725.64
4- 430,957.17
4- 190,308.33
— 356,610.89
4- 1,624,430.85
4- 535,114.32
4- 744,381.90
4- 1,776,281.60
— 151,246,00
733,072 08
1,602 72
4- 571,440.70
4- 5,170,944.69
4- 311,762.86
- 6,092,235.17
— 1,175,016.46
4- 899,375,23
-t- 456,590.30
4- 1,402,133.60
— 3,464,115.10
4-11,678,010.38
4- 9,080,769.20
- 6,958,209.31
-13,412,534.93
-^ 692,170,44
— 932,961,78
-f- 363,906.85
4- 2,506,031.71
4- 5,197,932.12
— 7,510,505.04
4- 3,322,394.60
4- 1,208,897.01
4- 352,582.03
— 714,890.28
310,963.86
4- 228,032.48
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T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S OP T H E U N I T E D
STATES—Continued.
O
00
RECAPITULATION OF RECEIPTS BY FISCAL YEARS-Conlinued,
P u b l i c d e b t receipts.
P a n a m a Canal
receipts-proceeds of b o n d s
Proceeds of
Premium
Total public
a n d p r e m i u m . b o n d s a n d other
received.
debt.
securities.
Year.
1831
1832
1833
1834
1835
.
1836.
.
.
1837
1838.. .
1839
.-.]"..•-.-.!!'1840
1841
1842
1843
1844
1845
! '.
1846
--1847 •
'
1848
1849
..
1850
1851.
..
.
1852
1853
1854 \ [ . \ . " [ . . . " ] " [ [ " [ [ [ [ [ ] ] ] . [ . \
1855
1856
1857
1858
1859
I860
1861
.!
1862
1863
1866..
;
1867
1868.......-.--.-..--
'"$2 ,'992 ,'989.'is'
12,716,820.86
3,857,276.21
5,589,547.51
13,659,317.38
14,808,735.64
12,479,708.36
1,877,18L35
-
-
<
";-
;
"$2,'992,'989.'is'
12,716,820.86
3,857,276.21
5,589,547.51
13,659,317.38
14,808,735.64
$7i,'766.*83' 12,551,409.19
1,877,847.95
666.60
"28,'872,'399,'45'
21,256,700.00
28,588,750.00
4,045,950.00
203,400.00
46,300.00
16,350,00
2,001,67
800,00
200,00
3,900,00
23,717,300,00
28,287,500,00
20,776,800.00
41,861,709.74
529,692,460.50
774,583,361.57
1,086,312,896.82
1,468,064,910.85
612,035,278.05
473,024,790.29
537,099,974.00
28,'365.'9l' "28,'966,'765.'36'
21,293,780.00
37,080,00
29,075,815.48
487,065.48
4,056,500.00
10,550.00
4,264,92
207,664,92
46,300.00
16,372 50
2 2 50"
2,001,67
800,00
200.00
3,900,00
23,717,300.00
709,'357.'72' 28,996,857.72
20,786,808,00
10,008.00
41,895,340,64
33,630,90
68,400,00 529,760,860,50
602,345,44 775,185,707.01
1,875,206,88 1,088,188,103.70
6,431,086,40 1,474,495,997.25
215,389,72 612,250,667.7713,632,486,80 486,657,277.09
7,268,642 96 544,368,616.96
E x c e s s of d e posits t o retire
national-bank
n o t e s over
redemptions.o
T o t a l of all
receipts.&
$30,632,542.76
34,126,020.83
36,565,438.13
24,615,648.89
38,423,643.76
54,235,119.67
32,892,810.40
43,258,116.06
39,824,682 52
29,613,184.76
34,927,203.92
39,331,782 54
25,078,635.88
35,435,843.56
34,259,947.60
33,187,167.09
59,248,477.75
61,547,690.31
64,502,069.26
53,149,373.74
59,173,308.58
55,077,642.44
66,844,128.88
80,057,929.29
71,993,510.81
80,977,720.90
76,323,164.33
77,859,458,82
8£!, 742,449.71
85,359,475.23
91,720,936.53
589,979,942 49
898,444,44211
1,363,338,22281
1,816,335,674.63
1,184.504,884.32
978,955,827,43
959,030,658.12
S u r p l u s ( + ) or
deficit (—) o n
all receipts.
— $1,412,646,16
— 2,496,848,89
4- 9,377,724,77
— 2,896,938,63
4- 18,093,152,12
4- 20,525,189,27
7,660,545,78
—
627,984,50
— 2,426,789, 94
— 3,331,584.69
1,369,853,72
4720,154,21
4- 8,585,777.02
2,502,679.99
551 193.10
4- 1,478,847.28
5,251,916.09
3,434,303,15
4- 3,636,597.39
4- 3,331,702,05
4- 4,418,802.59
4- 1,256,583,57
4- 7,020,342.44
1,670,827.68
813,401.28
-4- 1 330 557 67
2,305,374,80
- 11,689,520,78
1,904,677,28
213,717.82
2,015,672 95
4- 16,012,557.85
- 10,436,258.73
4- 97,919,902 71
-100,493,985,44
4-120,757.951.16
4- 29,995,625.29
- 38,051,314.22
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1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881 . - 1882
. .
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901 1902
1903
1904
1905
1906
1907
1908
1909
1910
:
- .
:
'
. .
•
. -
•
.
• :
$31,210,817.95
25,367,768. 67
30,731,008.21
. .
•
-
1
100,069,071.06
31,569,916.00
91,603,212 47
173,717,750.00
38,681,450,00
183,235,866,00
133,118,500.00
132,928,950.00
141,134,650.00
198,850,250.00
617,578,010.00
73,065,540.00
678,200.00
225,300.00
304,372,850.00
1,404,650.00
58,150,00
39,850,00
40,900,00
48,650.00
24,350,00
21,650.00
13,750.00
IS, 250. 00
22,900,00
50,014,250. 00
81,165,050,00
131,168,800.00
3,250, 00
. 5,950,00
199,201,210,00
117,770, 00
3,700,00
2,370. 00
2,050.00
2,600. 00
2,750. 00
2,050.00
5,100. 00
15,436,500. 00
489,357,328.99 4- 9,436,29216
101,448,27280
462,597,614,28 - 7,638,809.25
31,571,422 39
494,964,202 78 - 24,927,570.54
91,603,212 47
569,740,043.93 - 15,571,348.65
173,717,750.00
395,416,396.24 - 14,479,076.24
38,681,450,00
514,685,693.88 4- 9,157,257.53
183,235,866.00
447,909,911.69 - 4,655,478.22
133,118,500.00
455,669,012 78 - 4,204,784.11
305,734,78 133,234,684.78
450,072,653.84 4- 29,967,068.67
156,195.80 141,290,845,80
485,891,645.65 4- 75,651,808.00
198,850,250,00
921,447,177,32 4-144,575,084.77
i,496,943.25 619,074,953,25
439,907,630,32 -141,485,744.21
110,00
73,065,650,00
398,245,890.54 4- 14,637,023.93
678,200.00
445,626,960,43 - 20,736,144.84
225,300.00
748,169,124,56 - 1,178,462 55
304,372,850,00
393,250,478. 73 4- 4,531,94L09
1,404,650,00
366,309,700.21 4- 17,479,285,84
58,150,00
380,428,000. 01 4- 49,412,595,20
39,850,00
420,281,787. 05 - 24,447,370.46
40,900,00
432,009,901.55 4- 36,527,710.58
48,650,00
443,250,020.02 — 33,503,357,76
24,350,00
463,984,730.55 - 19,601,877,53
21,650. 00
13,750,00 $40,018,392 25 498,576,375.28 - 34,132,372 16
425,883,510.22 - 27,673,266,32
15,250, 00
461,739,521.94 — 4,445,400, 21
22,900.00
8,633,295. 71
58,647,545,71
5,708,247. 75 437,158,291,75 — 5,703,914. 32
482,877,597.92 4- 46,192,425.01
11,339,344. 62 92,504,394.62
551,810,455.19 4-104,580,230.86
11,166,246.41 142,335,046,41
434,747,032. 39 — 25,071,091.91
4,356,614. 50
3,250.00
6,034,510, 00 500,374,413.75 - 61,948,849,60
5,950. 00
5,324,234.50 815,507,448.85 4-100,791,521.35
199,201,210.00
669,713,201,18 4- 23,038,214.12
117,770. 00
699,320,230. 92 4- 21,215,743,65
3,700.00
2,370,00
i2,650, ieo. 66 696,978,810.47 4- 33,672,596.43
696,107, 215. 64 4- 26,266,651,54
1,484,048,00
1,486,098.00
683,757,474. 20 — 66,634,546.21
455,336.00
457,936, 00
697,436,093.72
2,750, 00
773,591,636. 27 - 26,574,076.13
530,324.00
532,374.00
10,408,537. 00 884,458,982. 94 4- 35,211,862 93
5,023,165. 50 858,141,635. 35 4- 91,372,090.65
1,509,234.00
1,514,334.00
24,797,980,00 837,882,881.12 — 26,890,097.74
15,436,500,00
899,640,372. 64 -118,795,919.63
— 19,480,752 43
1,379,201.74
1,506.39
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NOTE.—The disbursements are stated by warrants paid to June 30,1866, and by warrants issued since that date.. •
The disbursements for postal deficiencies are grants by law from the Treasury, and differ from the fiscal year expenditures thereof shown by reports of the Auditor for the PostOffice Department.
Issues and redemptions of certificates and notes not affecting the cash'in general fund are excluded from the. public debt figures in this statement,
oQnly the annual excess of deposits over redemptions included in this column.
b National-bank redemption fund herein includes only the annual excess of deposits on account of national-bank redemption fund since 1890.
o
CO
T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S OF T H E U N I T E D
STATES—Continued.
RECAPITULATION OF DISBURSEMENTS BY FISCAL YEARS.
Ordinary disbursements.
Civil a n d miscellaneous, exclusive
of p o s t a l deficiencies.
Year.
I79I
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807 .
1808
1809 .
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821 .
1822
1823
1824
1825
1826
.
...
. .
. - -
.
:
:
; . ...
-
$1,083,971.61
4,672,664.38
5I1,45L01
750,350. 74
1,378,920.66
801,847.58
1,259,422 62
1,139,524.94
1,039,391.68
1,337,613.22
1,114,768,45
1,462,929.40
1,842,635,76
2,191,009.43
3,768,598,75
2,890,137.01
1,697,897.51
1,423,285.61
1,215,803.79
1,101,144.98
1,367,291.40
1,683,088.21
1,729,435.61
2,208,029.70
2,898,870.47
2,989,741..17
3,518,936.76
3,835,839.51
3,067,211.41
2,592,021.94
2,223,121. 54
1,967,996.24
2,022,093.99
7,155,308.81
2,748,544.89
2,600,177.79
War Department,
$632,804.03
1,100,702 09
1,130,249.08
2,639,097.59
2,480,910.13
1,260,263,84
1,039,402 4 6 .
2,009,522 30
2,466,946,98
2,560,878,77
1,672,944.08
1,179,148,25
822,055,85
875,423.93
712,781,28
1,224,355.38
1,288,685,91
2,900,834,40
3,345,77217
2,294,-323.94
2,032,828.19
11,817,798.24
19,652,013.02
20,350,806.86
14,794,294. 22
16,012,096.80
8,004,236.53
5,622,715.10
6,506,300.37
2,630,392 31
4,461,29L78
3,111,981,48
3,096,924.43
3,340,939,85
3,659,914.18
3,943,194.37
N a v y Department.
$61,408.97
410,562 03
274,784,04
382,631.89
1,381,347,76
2,858,08L84
3,448,716,03
2,111,424.00
915,56L87
1,215,230.53
1,189,832 75
1,597,500.00
1,649,64L44
1,722,064.47
1,884,067.80
2,427,758.80
1,654,244,20
1,965,566.39
3,959,365.15
6,446,600.10
7,311,290.60
8,660,000. 25
3,908,278.30
3,314,598.49
2,953,695.00
3,847,640.42
4.387,990,00
3,319,243.06
2,224,458.98
2,503,765.83
2,904,581.56
3,049,083.86
4,218,902 45
Indians.
$27,000.00
13,648,85
27,282 83
13,042 46
23,475,68
113,563,98
62,396,58
16,470.09
20,302.19
3L22
9,000.00
94,000,00
60,000,00
116,500.00
196,500.00
234,200.00
205,425,00
213,575.00
337,503.84
177.625.00
151,875,00
277,845,00
167,358.28
167,394.86
530,750.00
274,51216
319,463. 71
505,704.27
463,181.39
315.750.01
477,005.44
575,007.41
380,781.82
429,987,90
724,106,44
743,447.83
Pensions.
$175,813.88
109,243.15
80,087.81
81,399,24
68,673,22
100,843,71
92,256.97
104,845.33
95,444,03
64,130.73
73,533.37
85,440,39
62,90210
80,092 80
81,854,59
81,875.53
70,500.00
82,576.04
87,833.54
83,744.16
75,043.88
91,402 10
86,989,91
90,164. 36
69,656.06
188,804.15
297,374. 43
890,719. 90
2,415,939.85
, 3,208,376.31
242,817,25
1,948,199. 40
1,780,588.52
1,499,326.59
1,308,810.57
1,556,593.83
I n t e r e s t on t h e
public debt.
$1,177,863,03
2,373,611,28
2,097,859.17
2,752,523,04
.2:947,059,06
3; 239,347, 68
3,172,516,73
2,955,875.90
2,815,651,41
3,402,601.04
4,411,830.06
4,239,17216
3,949,462 36
4,185,048,74
2,657,114.22
3,368,968.26
3,369,578,48
2,557,074,23
2,866,074,90
3,163,671.09
2,585,435.57
2,451,272 57
3,599,455.22
• 4,593,239.04
5,990,090.24
7,822,923.34
4,536,282 55
6,209,954.03
5,211,730.56
5,151,004.32
5,126,073.79
5,172,788. 79
4,922,475.40
4,943,557.93
4,366,757.40
3,975,542.95
Total ordinary
disbursements,
exclusive of
postal deficiencies.
$3,097,452 55
8,269,869.75
3,846,929.90
6,297,822 04
7,309,600.78
5,790,650.83
6,008,627.25
7,607,586.32
9,295,818.13
10,813,971.01
9,393,499.96
7,976,252.07
7,952,286,60
8,637,907,65
9,014,348.84
9,449,177,62
8.354 151.37
9,061,413.08
10,280,747.04
8,474.753. 37
8,178,040.43
20,280,771. 27
31,681,85214
34,720,925.42
32,943,661.24
31,196,355.92
19,990,892 47
20,018,627.81
21,512,004.00
18,285,534.89
15,849,552 86
15,000,432 30
14,706,629.99
20,273,702 64
15,857,217.34
17,037,859.22
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1827.
1828,
1829.
1830.
I83I.
1832.
1833.
1834.
1835.
1836.
1837.
1838.
1839.
1840.
1841,
1842,
1843
1844,
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866
1867
1868
1869,
1870
1871,
1872.
1873,
1874.
1875.
1876.
1877.
1878.
.2,713,476.58
3,676,052 64
3,082,234.65
3,237,416.04
3,064,646.10
4,577,141. 45
5,716,245.93
4,404,728.95
4,229,698.53
5,393,279.72
9,893,370,27
7,160,664.76
5,725,990.89
5,995,398,96
6,083,224.45
6,721,927.61
3,181,410.00
5,645,183.86
5,911,760,98
5,901,052 27
6,.349,309,36
5,628,629,29
12,885,334.24
16,043,763,36
17,888,99218
16,462,727.01
15,309,318.01
23,464,799.05
21,011,611.43
28,594,920.87
24,948,615.77
21,651,093,42
18,^8,985.99
18,088,432 58
18,156,392 66
17,824,134.04
22,449,068.39
26,572,236.87
42,739,383.10
40,613,114.17
47,593,557.05
48,956,676.01
51,078,551.25
48,392,882.35
55,350,666.23
55,809,757,42
67,837,635,06
80,427,548.90
63,859,056.88
68,507,120.68
52,756,193.59
47,424,309.55
4,263,877.45
3,948,977.88 •
4,145,544. 56
3,918,786.44
4,724,291.07
3,308,745. 47
4,767,128.88.
3,239,428. 63
4,841,835.55
3,856,183.07
5,446,034.88
3,956,370.29
6,704,019.10
3,901,356.75
5,696,189. 38
3,956,260.42
3,864,939406;/
5,759,156. 89
5,807,7lfe
11,747,345.25
. 13,682,730.80
6,646,914/'53
12,897,224.16
6,131,580.53
8,916,995.80
6,182,294,25
7,095,267,23
6,113,896/'89
8,801,610,24
6,001,676:/97
6,610,438,02
8,397,242/95
2,908,671.95
3,727,711.53
5,218,183,66
6,498,199,11
5,746,291,28
6,297,177.89
10,413,370.58
.
6,455,013,92
35,840,030.33
7,900,635,76
27,688,334.21
9,408,476.02
14,558,473.26
9,786,705.92
9,687,024.58
7,904,724.66
12,161,965,11
8,880,581.38
8,521,506,19
8,918,84210
9,910,498,49
11,067,789,53
11,722,282 87
10,790,096.32
14,648,074.07
13,327,095,11
16,963.160,51
14,074,834,64
19,159,150.87
12,651,694,61
25,679,121.63
14,053,264,64
23,154,720.53
14,690,927,90
16,472,202.72
11,514,649.83
23,001,530.67
12,387,156.52
389,173,562.29
42,640,353.09
603,314,411.82
63,261,235.31
690,391,048,66
85,704,963.74
1,030,690,400.06
122,617,434.07
283,154,676,00
43,285,662 00
95,224,415,63
31,034,011.04
123,246,648.62
25,775,502 72
78,501,990.61
20,000,757.97
57,655,675.40
.21,780,229,87
35,799,991.82
19,431,027.21
35,372.157.20
21,249,809,99
46,323,138.31
23,526,256,79
42,313,927,22
• 30,932,587.42
41,120,645.98
21,497,626.27
38,070,888.64
18,963,309,82
37,082,735.90
14,959,935,36
32,154,147.85
17,365,301.37
750,624,88
705,084.24
576,344.74
622,262. 47
930,738. 04
1,352,419. 75
1,802,980.93
1,003,953.20
1,706,444.48
5,037,022 88
,, 4,348,036.19
5,504,191.34
2,528,917.28
2,331,794.86
2,514,837.12
1,199,099.68
578,371,00
1,256,532 39
1,539,351,35
1,027,693.64
1,430,411.30
1,252,296.81
1,374,161,55
1,663,591.47
2,829,801.77
3,043,576.04
3,880,494.12
1,550,339.55
2,772,990.78
2,644,263.97
4,354,418,87
4,978,266.18
3,490,534.53
2,991,121.54
2,865,481.17
2,327,948.37
3,152,032 70
2,629,975.97
5,059,360.71
3,295,729,32
4,642,531.77
4,100,682 32
7,042,923.06
3,407,938,15
7,426,997,44
7,061,Z28,82
7,951,704.88
6,692.462.09
8,384,656.82
5,966,558,17
5,277,007.22
4,629,280.28
976,138. 86
850,573.57
949,594. 47
1,363,297. 31
1,170,665.14
1,184,422 40
4,589,152 40
3,364,285.30
1,954,711.32
2,882,797.96
2,672,162 45
2,156,057,29
3,142,750.51
2,603,56217
2,388,434,51
1,378,931,33
839,041,12
2,032,008.99
2,400,788.11
1,811,097.56
1,744,883.63
1,227,496.48
1,328,867,64
1,866,886.02
2,293,377,22
2,401,858.78
1,756,306,20
1,232,665.00
1,477,612 33
1,296,229.65
1,310,380.58
1,219,768,30
1,222,222 71
1,100,802 32
1,034,599,73
852,170,47
• 1,078,513.36
4,985,473.90
16,347,621.34
15,605,549.88
20,936,551.71
23,782,386.78
28,476,621,78
28,340,20217
34,443,894.88
28,533,402,76
29,359,426,86
29,038,414,66
29,456,216,22
28,257,395,69
27,963,752 27
27,137,019.08
3,486,071.51
3,098j800. 60
2,542,843. 23
1,912,574.93
1,373,748. 74
772,561. 50
303, 796.87
202, 152 98
57, 863. 08
14, 996.48
399, 833.89
174,598.08
284, 977,55
773,549,85
523 583,91
1,833,452.13
1,040,458.18
842, 723.27
1,119,214,72
2; 390,765.88
3,565,535.78
3,782,393,03
3,696 760.75
4,000, 297.80
3,665 832.74
3,070; 926.69
2,314,464,99
1,953 822.37
1,593,265.23
1,652,055. 67
2,637,649.70
3,144,120,94
4,034,157,30
13,190,344.84
24,729, 700.62
53,685, 421.69
77,395. 090.30
133,067, 624.91
143,781,591.91
140,424,045.71
130,694, 242.80
129,235, 498.00
125,576, 565.93
117,357 839,72
104,750; 688.44
107,119, 815.21
103,093, 544.57
100,243, 271.23
97,124,511.58
102,500 874.65
16, 139; 167.16
16,394,842 05
15, 184,053 63
15, 142,108, 26
15,237,816. 64
17,288,950. 27
23,017,551.98
18,627,570. 23
17,572,813.36
30, 868,164.04
37, 243,214.24
33, 864,714,56
26, 896,782 62
24, 314,518.19
26, 074,160.84
25, 081,189.44
11)758,789.51
22, 483,560.14
22, 935,827.79
26, 450,951,24
54, 384,485,10
47, 595,998.69
43, 499,078.39
40, 948,383,12
47, 751,478,41
43, 348, 807.92
45, 590.239.09
51, 831,109.48
55, 551,848.71
65, 527,232 01
64, 017,525.93
69, 233,569,84
64, 185,041,36
53, 311,329,93
61, 479,318.02
466,008.513.10
717, 984,962,20
863, 969,120.83
.,294,849,289,58
519, 022,356.34
343, 212.659.11
366, 285,942,16
315, 795,087.47
288, 812.425.94
278, 029,143,51
265, 384,695.91
279, 748,850.34
296; 524,755.50
267 411,746.74
260,008,544.23
,
235: 164,135.92
231: 210,932.78
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T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S OF T H E U N I T E D STATES—Continued.
to
RECAPITULATION OF DISBURSEMENTS BY FISCAL YEARS—Continued.
Ordinary disbursements.
Year.
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Civil and miscellaneous, exclusive
of postal deficiencies.
War Department.
$60,968,031,00
51,642,529,76
60,520,686.05
57,219,750,98
68,603,519.03
70,920,433,70
82,952,647.80
65,973,277.83
78,763,578.54
69,896,223.67
76,795,144.53
74,528,219.58
105,306,395.41
95,790,498.90
97,786,004.08
93,693,884.07
82,263,188.42
77,916,234.62
79,252,061,69
86,016,464.75
110,979,685.82
98,542,411.37
117,327,240.89
111,067,171.39
122,165,385.54
130,099,672.06
127,968,471,82
130,221,177,07
145,416,530,32
162,532,367.63
167,001,087,10
171,580,829.79
$40,425,660.73
38,116,916.22
40,466,460,55
43,570,494.19
48,911,382.93
39,42'9,603.36
42,670,578.47
34,324,152.74
38,561,025.85
38,522,436.11
44,435,270.85
44,582,838.08
48,720,065.01
46,895,456,30
49,641,773.47
54,567,929,85
51,804,759,13
50,830,920.89
48,950,267.89
91,992,000,29
229,841,254.47
134,774,767.78
144,615,697.20
112,272,216.08
118,619,520.15
115,035,410,58
122,175,074.24
117,946,692.37
122,576,465.49
137,746,523.95
161,067,462 39
155,911 705.93
Navy Department.
$15,125,126.84
13,536,984.74
15,686,671.66
15,032,046.26
15,283,437.17
17,292,601.44
16,021,079.67
13,907,887.74
15,141,126.80
16,926,437. 65
21,378,809,31
22,006,206.24
26,113,896.46
29,174,138.98
30,136,084.43
31,-701,293.79
28,797,795.73
• 27,147,732.38
34,561,546.29
58,823,984.80
63,942,104.25
55,953,077.72
60,506,978.47
67,803,128,24
82,618,034.18
102,956,101.55
117,550,308,18
110,474,264,40
97,128,469.36
118,037,097.15
115,546,011.09
123,173,716.68
Indians.
$5,206,109.08
5,945,457.09
6,514,161.09
9,736,747. 40
7,362,590.34
6,475,999.29
6,552,494.63
6,099,158.17
6,194,522.69
6,249,307,87
6,892,207.78
6,708,046.67
8,527,469.01
11,150,577.67
13,345,347.27'
10,293,481.52
9,939,754,21
12,165,528,28
13,016,802.46
10,994,667.70
12,805,711,14
10,175,106,76
10,896,073.35
10,049,584,86
12,935,168,08
10,438,350.09
14,236,073.71
12,746,859,08
15,163,608.41
14,579,755.75
15,694,618.11
18,504,131,60
Pensions.
•$35,121, 482.39
56,777, 174.44
50,059, 279.62
61,345, 193.95
66,012, 573. 64
55,429, 228.06
56,102, 267,49
63,404, 864,03
75,029, 101.79
80,288, 508.77
87,624, 779.11
106,936, 855.07
124,415, 951,40
134,583, 052.79
159,357, 557.87
141,177, 284.96
141,395, 228.87
139,434, 000,98
141,053, 164,63
147,452, 368.61
139,394, 929.07
140,877, 316,02
139,323, 621.99
138,488, 559.73
138,425, 646.07
142,559, 266.36
141,773, 964.57
141,034, 561,77
139,-309, 514.31
153,892 467.01
161,7io: 367,25
160,696: 415.88
Interest on the
public debt.
$105,327,949.00
95,757,575. II
82,508,741,18
71,077,206.79
59,160,131,25
54,578,378,48
51,386,256.47
50,580,145.97
47,741,577.25
44,715,007.47
41,001,484.29
36,099,284.05
37,547,135.37
23,378,116,23
27,264,392.18
27,841,405.64
30,978,030,21
35,385,028,93
37,791,110.48
37,585,056.23
39,896,925.02
40,160,333.27
32,342,979,04
29,108,044,82
28,556,348.82
24,646,489.81
24,590,944,10
24,308,576.27
24,481,158,34
21,426,138,21
21,803,836,46
21,342,978.83
Total ordinary
disbursements,
exclusive of
postal deficiencies.
$262,174;359.04
261,776,637.36
255,756,000.15
257,981 439.57
265,333,634,36
244.126,244,33
255.685,324,53
234.289,486,48
932.92
26i; 430,
256,597,921.54
278.127,695.87
290,861,449.69
350,630,912.66
340,971 840.87
377,531,159.30
359,275,279.83
345,178, 756,57
342,879,446.08
354,624, 953.44
432,864,542,38
596,860,609.77
480,483,012.92
505,012,590.94
468,788,705.12
503,320,102 84
525,735,290.45
548,294,836,62
536,732,130,96
544,075, 746.23
608,214;349.70
642,823,382,40
651,209,778.71
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Public debt disbiu-sements.
Postal disbursements.
or
Year.
00
-a
i
^
•M
2
O
I
1791.,
1792.,
1793-.
1794.
1795-,
1796-,
1797.
I 1798.,
^ 1799.,
1800.,
1801.
180218031804.
1805.
18061807.
1808.
1809.
1810.
1811.
1812.
1813.
18141815.
1816.
1817.
1818.
1819.
1820.
1821.
1822.
18231824.
1825.
1826.
1827.
1828.
1829.
1830.
I83I.
1832.
From postal
revenue.
$67,113.66
76,586,60
74,161.03
95,397,53
125,038,62
136,639.08
156,588.03
185,308.01
184,835.88
207,135.96
248,141.92
275,856.69
316,312 37
333,977.23
386,115. 52
413,814.45
418,916.03
446,914.80
505,115.94
550,991,22
517,920.73
552,472.53
635,411.72
726,374.86
743,755.61
807,875.15
917,128.86
031,799.18
114,032 59
163,191.33
177.526.28
167,358,96
158,777.49
190,478.29
238.912.29
395,798.78
481,619,68
679,316,45
872,704,67
950,116,18
006,742.80
266,171.66
Total ordinary
disbursements
and postal
Panama Canal
From Treasury Total postal service, includ- disbursements.
grants for
. ing grants for
deficiencies. disbursements.
deficiencies
therein.
$67,113.66
76,586.60
74,161.03
95,397.53
125,038,62
136,639.08
156,588.03
185,308.01
184,835.88
207,135.96
248 141.92
275;856,69
316,312,37
333,977.23
386,115.52
413,814.45
418,916.03
446,914,80
505,115.94
550,991.22
517, 920.73
552;472.53
635.411,72
726;374,86
743,755.61
807,875.15
917,128.86
1^031,799.18
1,114,032.59
1,163,191.33
1,177,526.28
1,167,358.96
1,158,777, 49
1,190,478.29
1,238,912.29
1,395,798,78
1,^1, 619.68
1,679,316. 45
1,872,704. 67
1,950 116.18
2,006:742.80
2,266,m.66
164,566.21
346.456.35
921,090,93
393,219,57
434,639,40
927,289.91
165,215,28
792,894.33
480,654.01
021,106.97
641,641.88
252,108.76
268,598,97
971,884,88
400.464.36
862,992 07
773,067.40
508,327,88
785,862 98
025,744,59
695,961,16
833,243.80
317,263.86
447,300.28
687,416.85
004,231.07
908,021.33
050,426.99
626,036.59
448,726.22
027,079.14
167,791,26
865,407,48
464,180.93
096,129.63
433,658.00
620,786.84
074,158.50
056,758,30
092,224.44
244,559.44
555,121.93
Redemption
of bonds
and other
securities.
$699,
693;
2,633,
2,743:
2,84i:
2,577;
2,617,
976,
. 1,706,
1,138,
2,879:
5,294;
3,306,
3,977,
4,583:
5,572
2,938;
7,701,
3,586;
4,835,
5,414;
1,—
7,508,
3,307,
6,638
17,048:
20,886:
15,086:
2,492,
3,477:
3,24i:
2,676:
607
11,624:
7,728:
7,065:
6,517:
9,064:
9,860:
9,443:
I4.8OO;
17 067
Premium paid.
Total public
debt.
$699,984.23
693,050.25
l,a33,048,07
i, 743,771.13
!, 841,639,37
L577,126.01
617,250,12
976,032 09
706,578,84
138,563.11
879,876,98
294,235,24
306,697.07
; 977,206,07
583,960.63
572,018.64
938,141.62
701,288.96
586,479.26
835,241.12
414,564.43
998,349.88
508,668.22
307,304.90
638,83211
048,139,59
886,753,57
086,247.59
492,195,73
477,489.96
241,019.83
676,160.33
607,541.01
624,835.83
728,587.38
065,539.24
517,596.88
064,637.47
860,304.77
443,173.29
800,629.48
067,747.79
Excess of .
national-bank
notes retired
over deposits
for retirement.
Total of all
disbursements.
$3,864,550.44
9,039,506.60
6,554,139.00
9,136,990.70
10,276,278.77
8,504,415.92
8,782,465.40
8,768,926,42
11,187,232 85
12,159,670.08
12,521,518.86
13,546,344,00
11,575, 296.04
12,949: 090,95
13,984;424.99
15,435,010.71
11,711,209.02
17,209,616.84
14,372,342,24
13,860,985,71
14,110,525,59
22,831,593,68
39,825,932.08
38,754,605,18
40,326,248.96
49,052,370.66
41,794,774.90
36,136,674.58
25,118,232.32
22,926,216.18
20,268,098.97
18,843,951.59
16,472,948.49
33,089,016.76
24,824,717.01
25,499,197.24
24,138,383,72
27,138,795.97
26,917:063.07
26,535 397.73
32,045;188.92
36,622
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T A B L E I . — R E C E I P T S AND D I S B U R S E M E N T S O P T H E U N I T E D
STATES—Continued.
^^^
RECAPITULATION OF DISBURSEMENTS BY FISCAL YEARS—Continued.
Postal disbursements.
Year.
F r o m postal
revenue.
1833
1834
1835
1836
1837
1838
1839
1840
1841
1842
1843
:
1844
1845
1846
1847
1848
1849
...-.
1850
1851
1852
1853
1854
1855
1856
1857
1858
:-1859
I860...-1861..1862
1863
1864
1865
1866
1867
1868
1869
$2,930,414.87
2,910,605,08
2,757)350,08
2,841,766,36
3,288,319,03
4,430,662 21
4,636,536,31
4,718,235,64
4,499,527.61
5,674,751.80
4,374,753.71
4,296,512 70
4,320,73L99
4,076,036.91
3,979,542,10
4,326,850,27
4,479,049.13
5,212,953.43
6,278,401,68
7,108,450.04
5,240,724.70
6,255,586,22
6,642,136.13
6,920,821.66
7,353,951,76
7,486,792 86
7,968,484.07
8,518,067,40
8,349,296,40
8,299,820,90
11,163,789,59
12,438,253;78
14,556,158.70
14,436,986,21
15,297,026.87
16,292,600.80
18,344,510.72
Total ordinary
disbursements
a n d postal
service, i n c l u d - P a n a n i a Canal
From Treasury Total postal
i n g g r a n t s for d i s b u r s e m e n t s .
g r a n t s for
deficiencies
disbursements.
deficiencies.
therein.
$407,657.00
53,697,00
21,303.00
810,231,62
536,298,99
22,221.96
1,041,444.44
2,153,750.00
3,207,345.63
3,078,814,00
3,199,11&00
3,616,883.00
4,748,923.00
4,808,558.41
9,889,545.72
5,170,895.03
3,561,728,55
749,313.98
999,980.00
250,000.00
3,516,666.67
4,053,191.66
5,395,510.28
$2,930,414.87
2,910,605.08
2,757,350.08
2,841,766,36
3,288,319,03
4,430,662 21
4,636,536,31
4,718,235.64
4,907,184.61
5,728,448.80
4,396,056.71
4,296,512 70
4,320,731,99
4,886,268,53
, 4,515,841.09
4,349,072 23
4,479,049.13
5,212,953.43
6,278,401,68
8,149,894,48
7,394,474.70
9,462,931.85
9,720,950,13
10,119,939,66
10,970,834,76
12,235,715,86
12,777,042,48
18,407,613.12
13,520,191.43
11,861,549,45
11,913,103,57
13,438,233,78
14,806,158,70
14,436,986.21
18,813,693,54
20,345,792 46
23,740,021.00
$25,947,966.85
21,538,175.31
20,330,163.44
33,709,930,40
40,531,533.27
38,295,376.77
31,533,318.93
29,032,753,83
30,981,345. 45
30,809,638.24
16,154,846.22
26,780,072 84
27.256.559.78
31,337,219.77
58,900,326,19
51,945,070,92
47,978,127.52
46,161,336.55
54,029,880.09
51,498,702.40
52.984.713.79
61,294,041.33
65,272,798.84
75,647,171.67
74,988,360.69
81,469,285,70
76,962,083,84
71,718,943,05
74,999,509.45
477,870,062.55
729,898,065.77
877,407,354.61
1,309,655,448.28
533,459,342 55
362,026,352.65
386,631,734,62
339,535,108.47
Public debt disbursements.
Redemption
of b o n d s
and other
securities.
Premium paid.
Total public
debt.
$1,"239,746,51
5,974,412 21
328.20
$1,239,746.51
5,974,412 21
328.20
21,822 91
5,590,723,79
10.718.153.53
3,912,015.62
5,315,71219
7,801,990,09
338,012 64
11,158,450,71
7,536,349,49
371,100,04
5,600,067,65
13.036.922.54
12,804,478.54
3,656,335.14
654,912.71
' 2,152,293. OS
6,412,574.01
17,556,896. 95
6,662,065.86
3,614,618.66
3,276,606,05
7,505,250.82
14,685,043.15
13,854,250.00
18,737,100.00
96,097,322 09
178,982,635,07
388,010,965.49
605,456,311.68
530,229,114.10
576,120,500,11
603,449,086.68
138,711,248.31
21,822 91
5,590,723.79
10,718,153.53
3,912,015.62
5,315,71219
7,801,990,09
338,012 64
11,158,450,71
7,554,580,92
371,100.04
5,600,067.65
13,036,922 54
12,887,344.35
3,656,335.14
724,625.90
2,322,356,47
6,833,072 65
20,434,715,64
7,''534,113,25
3,999,991.56
3,640,178,44
8,079,693.90
14,685,043.15
13,854,250,00
18,737,100.00
96,097,322 09
178,982,635.07
388,010,965.49
607,174,211.79
530,287,590.61
586,933,849.49
610,450,237.72
140,385,928.36
$18,231.43
82,865,81
69,713,19
170,063.42
420,498.64
2,877,818. 69
872,047.39
385,372 90
363,572 39
574,443.08
1,717,900,11
58,476.51
10,813,349,38
7,001,151,04
1,674,680.05
E x c e s s of
national-bank
notes retired
over deposits
for r e t i r e ment.o
T o t a l of a l l
disbursements, b
$27,187,713.36
27,512,587.52
20.330,491.64
33,709,930.40
40,553,356.18
43,886,100.56
42,251,472 46
32,944,769,45
36,297,057.64
38,611,628.33
16,492,858.86
37,938,523.55
34,811,140,70
31,708,319,81
64,500,393.84
64,981,993.46
60,865,471.87
49,817,671.69
54,754,505.99
53,821,058.87
59,817,786.44
81,728,756.97
72,806,912 09
79,647,163.23
78,628,539,13
89,548,979.60
91,647,126.99
85 573 193 05
93,736,609,45
573,967,384.64
908,880,700.84
1,265,418,320.10
1,916,829,660.07
1,063,746,933.16
948,960,20214
997,081,972 34
479,921,036.83
tei
o
o
H
w
tei
o
tei
zn
1870.
1871.
1872.
1873,
1874,
1875,
1876,
1877,
1878,
1879.
1880.
1881
1882,
1883.
1884.
1885.
1886,
1887.
1888,
1889,
1890,
1891.
1892,
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
772,220.65
037,045,42
915,426,37
996,741.57
471,071,82
791,360.59
644,197.50
531,585,26
277,516,95
041,982 86
315,479.34
785,397.97
876,410.15
508,692.61
325,958.81
560,843.83
948,422.95
837,609.39
695,176.79
175,611.18
882,097.92
931,785.72
930,475,98
896,993,16
080,479,04
983,128.19
499,208.40
665,462.73
012,618.55
021,384.17
354,579.29
631,193.39
848,047.26
224,443.24
582,624.34
826,585.10
932,782,95
585,005.57
478,663.41
562,383,07
128,657.62
4,844,579.21
5,131,250.00
5,175,000.00
5,490,475,00
4,714,044,71
7,211,646.10
5,092,540,36
6,170,338.94
5,753,394,02
4,773,524,49
3,071,000,00
3,895,638.66
24,616,799.86
25,168,295.42
27,090,426.37
28,487,216.57
31,185,116,53
34,003,006.69
33,736,737.86
33,701,924,20
35,030,910,97
34,815,507,35
36,386,479.34
40,681,036,63
41,876,410,15
45,583,195.79
74,503.18
43,325,958.81
4,541 610. 58 47,102,454.41
52,142,074,97
8,193;652.02
55,338,856,44
6,501,247.05
55,751;213.92
3,056,037,13
60,044, 530.91
3,868,919.73
67,757: 134.83
6,875,036.91
70,673: 557,80
4,741,772.08
74,981:965.69
4,051 489.71
81,843;788.35
5,946;795.19
83,330, 479.04
8,250,000,00
87,999; 669.91
11,016,541.72
91,799,208.40
9,300,000.00
93,814,668.86
11,149,206,13
99,516,658.97
10,504,040,42
8,211,570,08 103,232,954.25
7,230,778,79 109,585,358.08
4,954,762.21 116,585: 955.60
2,402,152, 52 124,250: 199.78
2,768,919.20 136,993: 362 44
6,502,530.86 150,085: 155.20
15,065,257.00 167,891:842.10
12,673,294.39 180,606:077.34
7,629,382.81 191,214:388.38
12,888,040.94 204,366;704.35
19,501 062.37 223,063,445,44
8,495,612.37 232,624,269.99
313,429,225.80
303,197,438.93
292,475, 122.28
308,236;066,91
327,709,872.03
301,414,753.43
293,745,282.09
268,866,060.12
266,241 843.75
296,989;866.39
298,163,116,70
296,437,036,78
299,857,849.72
310,916,830.15
287,452,203.14
302,787,778.94
286,431,561,45
316,769,789.36
312,349;135.46
338,172,226.78
358,618,584.52
421,304,470.46
415,953,806:56
459,374,947,65
442,6O5;758.87
433,178,426.48
434,678,654.48
448,439:622,30
532,381;201.35
700,093,564,02
590,068,371,00
621,598,546.54
593,038,904.90
640,313,465,28
675,820,445,65
716,186,678.72
717,338,208.30
735,290,134.61
812,581,054.05
865,886,827.84
883,834,048.70
$9 985.00
50,164 500.00
3,918:819.83
19,379:373,71
27,198;618.71
38,093,929.04
31,419,442. 41
33,911,673.37
140,810, 642.13
207,677,539.65
285,878,003.54
96,553,485.58
176,423,490.77
151,150,636,48
166,128,514,80
151,239,525,05
143,997 993.90
479,882;226,16
280,434,937,41
86,110,581.05
166,505,255.55
438,430,756.96
101,266,334. 50
46,042,635.43
44,583,843.36
127,959,368.15
74,862,213.05
121,288,788.35
104,663,799.50
101,003:056.37
24,348,086.98
709,903.00
256,447,20
2,494,549,93
7,294,103.35
11,378,502.00
29,942,062.00
14,622,363.48
22,790,058.25
36,112,798.78
56,223;918.00
16,608,833,00
18,622,730.75
6O5;230.80
244,711,80
30,373,043.00
34,356,750.00
15,434,687.00
760,925.00
15,996,555.60
9,016,794.74
6,958,266,76
5,105,919.99
1,395,073,55
2,795,320,42
1,061,248,78
8,270,842.46
17,292,362 65
20,304,224.06
10,401,220.61
33,147,054.81
14,649,572 95
14,043,391.14
10,907,119.82
1,257,578.01
1,417,479.53
225,095.97
156,807,197.73
216,694,334.39
292,836,270.30
101,659,405.57
177,818,564.32
151,150,636.48
166,128,514,80
151,239,525,05
143,997,993.90
479,882,226,16
283,230,257.83
87,171,829.83
166,505,255,55
438,430,756,96
101,266,334.50
46,042,635,43
44,583,843,36
127,959,368.15
83,133,055,51
138,581,151.00
124,968,023,56
111,404,276,98
24,348,086,98
709,903,00
256,447.20
2,494,549,93
7,294,103,35
11,378,502 00
29,942,062 00
14,622,363,48
55,937,113,06
50,762,371.73
70,267,309,14
27,515,952 82
19,880,308.76
605,230.80
1,662,191,33
30,598,138,97
34,356,750.00
15,434,687,00
760,925.00
$13,254,883.00
6,100,071.50
1,012,196.50
5,257,466.50
669,503.00
5,743,569.00
2,001,161.00
4,526,766,00
3,299,440.50
43,937,843,50
614,478.00
470,236, 423.53
519,891, 773.32
585,311; 392 58
409,895, 472.48
505,528, 436.35
452,565, 389,91
459,873, 796,89
420,105: 585,17
410,239; 837.65
776,872, 092.55
581,393, 374.53
383,608, 866,61
466,363, 105,27
749,347, 587.11
388,718, 537,64
348,830, 414,37
331,015, 404.81
444,729, 157. 51
395,482, 190.97
476,753, 377.78
483,586, 608.08
532,708, 747.44
453,556, 776. 54
466,184, 922.15
442,862, 206.07
436,685, 172.91
447,230, 224.33
459,818, 124.30
562,323, 263.35
714,715, 927,50
646,674, 987.06
"678,104, 487.27
663,306, 214.04
669,840, 564.10
750,392, 020,41
724,010, 169,85
738,379, 773.34
793,086, 892.29
885,031, 733,09
956,678, 800,75
919,121, 125.07
zn
tei
o
I
o
tei
•W
tei
>
zn
a O n l y t h e a n n u a l excess of r e d e m p t i o n s o v e r d e p o s i t s i n c l u d e d in t h i s c o l u i h n .
b N a t i o n a l - b a n k r e d e m p t i o n fund h e r e i n i n c l u d e s o n l y t h e a n n u a l excess of r e d e m p t i o n s o n a c c o u n t of n a t i o n a l - b a n k r e d e m p t i o n f i m d since 1890.
cn
116
REPORT ON T H E FINANCES.
TABLE J.—STATEMENT
STATES FROM 1860
CAPITA.
OF
TO
THE
1910,
COIN AND PAPER CIRCULATION OF THE U N I T E D
INCLUSIVE, WITH AMOUNT OF CIRCULATION PER
Coin, i n c l u d - U n i t e d States]
Year
notes and
Total money.
ending ing bullion in
Treasury.
b a u k notes.
JuneSO.
I860..
1861..
1862..
1863..
1864..
1865..
1866..
1867..
1868..
1869..
1870..
1871..
1872..
1873..
1874..
1875..
1876..
1877..
1878..
1879..
1880..
1881..
1882..
1883..
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891..
1892..
1893..
1894-.
1895-.
1896..
1897-1898-.
1899-.
1900..
1901..
1902..
1903..
1904..
1905-.
1906-.
1907.,
1908.,
1909..
I9I0..
$235,000,000
250,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
25,000,001
52,418,734
65,837,506
102,047,907
357,268,178
494,363,884
647,868,682
703,974,839
769,740,048
801,068,939
872,175,823
903,027,304
1,007,513,901
1,092,391,690
1,100,612,434
1,152,471,638
1,112,956,637
1,131,142, 260
1,066,223,357
1,098,958,741
1,114,899,106
1,097,610,190
1,213.780,289
1,397,785,969
1,508,543,738
1,607,352,213
1,734,861,774
1,829,913,551
1,905,116, 321
1,994,610,024
2,031,296,042
2,154,797,215
2,159,103,301
2,328,767,087
2.365,512,264
2,355,807,734
$207,102,477
202,005,767
333,4-52,079
649,867,283
680,588,067
745,398,620
729,430,711
703,334,669
692,336,115
691,471,653
698,940,094
719,539,283
740,960,724
751,363,213
781,024,781
773,273,509
738,264,550
697,216,341
687,743,069
676,372,713
691,186,443
701,723,691
705,423,050
703,496,526
686,180,899
665,750,948
655,691,476
625,898,804
599,043,337
558,059,979
532,651,791
564,837,007
621,076,937
672,584,935
706,618,677
704,460,451
702,364,843
692,989,982
675,788,473
681,550,167
732,348,460
748,206,203
733,353,107
779,594,666
808,894,111
851,813,822
915,179,376
956,457,706
1,049,996,933
1,040,816,090
1,063,783,749
$442,102; 477
452,005,767
358,452,079
674,867,283
705,588,067
770,398,620
754,430,711
728,334,669
717,336,115
716,471,653
723,940,094
744,539,283
765,960,724
776,363,213
806,024,781
798,273,509
790,683,284
763,053,847
789,790,976
1,033,640,891
1,185,550,327
1,349,592,373
1,409.397,889
1,473,236,574
1,487,249,838
1,537,926,771
1,558,718,780
1,633,412,705
1,691,435,027
1,658,672,413
1,685,123,429
1,677,793,644
1,752,219,197
1,738,808,292
1,805,577,418
1,819,359,557
1,799,975,033
1,906,770,271
2,073,574,442
2,190,093,905
2,339,700,673
2,483,067,977
2,663,266,658
2,684,710,987
2,803,504,135
2,883,109,864
3,069,976,591
3,115,561,007
3,378,764,020
3,406,328,354'
3,419,591,483
Coin, b u l l i o n ,
and paper
. money in
Circulation.
Treasury, as
assets.
$6,695,225
3,600,000
23,754,335
79,473,245
35,946,589
55,426,760
80,839,010
66,208,541
36,449,917
50,898,289
47,655,667
25,923,169
24,412,016
22,563,801
29,941,750
44,171,562
63,073,896
40,738,964
60,658,342
215,009,098
212,168,099
235,354,254
235,107,470
242,188,649
243,323,869
244,864,935
308,707,249
315,873,662
319,270,167
278,310,764
255,872,159
180,363,337
150,872,010
142,107,227
144,270,253
217,391,084
293,540,067
266,787,100
235,714,547
286,022,024
284,649,675
307,760,015
313,876,107
317,018,818
284,361,275
295,227,211
333,329,963
342,604,552
340,748,632
300,087,697
317,235,878
Population.
407,252 31,443,321
448, 405,767 32,064,000
334, 697,744 32,704,000
695, 394,038 33,365,000
669, 641,478 34,046,000
714, 971,860 34,748,000
673, 591,701 35,4^9,000
662, 126,128 36,211,000
680, 886,198 36,973,000
665, 573,364 37,756,000
676, 284,427 38,658,371
718, 616,114 39,565,000
741, 548,708 40,596,000
753, 799,412 41,677,000
776, 083,031 42,796,000
764, 101,947 43,951,000
727, 609,388 45,137,000
722, 314,883 46,353,000
729, 132,634 47,698,000
818, 631,793 48,866,000
973, 382,228 50,166,783
,114, 238,119 51,316,000
,, 174, 290,419 52,495,000
,231, 047,926 53,693,000
,243, 925,969 64,911,000
., 293, 061,836 66,148; 000
,250, 011,631 57,404,000
, 317, 539,143 68,680,000
,372, 164,870 59,974,000
,380, 361,649 61,289,000
,429, 261,270 62,622,250
,497, 440,307 63,844,000
, 601, 347,187 65,086,000
,696, 701,066 66,349,000
, 661, 307,166 67,632,000
,601, 968,473 68,934,000
, 606; 434,966 70,2.^1,000
,640, 983,171 71,5^2,000
,837, 859,895 72,947,000
, 904: 071,881 74,318,000
:, 055: 150,998 76,303,387
:, 175: 307,962 77,754,000
i, 249: 390,561 79,117,000
;, 367: 692,169 80,487,000
:, 519: 142,860 81,867,000
1,587: 882,663 83,260,000
:, 736: 646,628 84,662,000
:,772, 956,466 86,074,000
i, 038, 016,488 87,496,000
.106, 240,667 88,926,000
,102 365,605 |a90,363,000
Circulation
per
capita.
$13.85
13.98
10.23
17.84
19.67
20.58
18.99
18.29
18.42
17.63
17.51
18.17
18.27
18.09
18.13
17.16
16.12
15.68
16.32
16.75
19.41
2L71
22.37
2 2 93
22.65
23.03
21.78
2 2 45
2 2 88
22.52
22.82
23.45
24.60
24.07
24.56
23.24
2L44
22.92
25.19
25.62
26.93
27.98
28.43
29.42
30.77
31.08
3 2 32
3 2 22
34.72
34.93
34.33
N O T E 1.—Specie p a y m e n t s w e r e s u s p e n d e d f r o m J a n u a r y 1,1862, t o J a n u a r y 1,1879. D u r i n g t h e
g r e a t e r p a r t of t h a t p e r i o d g o l d a n d s i l v e r c o i n s w e r e n o t i n c i r c u l a t i o n e x c e p t o n t h e Pacific coast,
w h e r e , i t is e s t i m a t e d , t h e s p e c i e c i r c u l a t i o n w a s g e n e r a l l y a b o u t $25,000,000. T h i s e s t i m a t e d a m o u n t
is t h e o n l y c o i n i n c l u d e d i n t h e a b o v e s t a t e m e n t f r o m 1862 t o 1875, i n c l u s i v e .
N O T E 2.—In 1876 s u b s i d i a r y s i l v e r a g a i n c a m e i n t o u s e , a n d is i n c l u d e d i n t h i s s t a t e m e n t , b e g i n n i n g
w i t h t h a t year,
- N O T E 3.—The c o i n a g e of s t a n d a r d s i l v e r d o l l a r s b e g a n i n 1878, u n d e r t h e a c t of F e b r u a r y 28,1878.
N O T E 4.—Specie p a y m e n t s w e r e r e s u m e d J a n u a r y 1,1879, a n d a l l g o l d a n d s i l v e r c o i n s , as w e l l a s
g o l d a n d silver b u l l i o n i n t h e T r e a s u r y , a r e i n c l u d e d i n t h i s s t a t e m e n t f r o m a n d a f t e r t h a t d a t e .
N O T E 6.—For r e d e m p t i o n of o u t s t a n d i n g certificates a n e x a c t e q u i v a l e n t i n a m o u n t of t h e a p p r o p r i a t e k i n d s of m o n e y is h e l d i n t h e T r e a s u r y , a n d is n o t i n c l u d e d i n t h e a c c o u n t of m o n e y h e l d a s
assets of t h e G o v e r n m e n t ,
N O T E 6.—This t a b l e r e p r e s e n t s t h e c i r c u l a t i o n of t h e U n i t e d S t a t e s a s s h o w n b y t h e r e v i s e d s t a t e m e n t s of t h e T r e a s u r y D e p a r t m e n t for J u n e 30 of e a c h of t h e y e a r s specified.
N O T E 7.—The D i r e c t o r of t h e M i n t m a d e a r e v i s e d e s t i m a t e of t h e s t o c k of g o l d c o i n , a n d , a s a
c o n s e q u e n c e of s u c h r e v i s i o n , t h e e s t i m a t e d s t o c k of g o l d i n t h e U n i t e d S t a t e s a n d of g o l d c o i n i n
c i r c u l a t i o n h a s b e e n r e d u c e d $135,000,000 i n t h e figures for 1907.
N O T E 8.—The D i r e c t o r of t h e M i n t r e c e n t l y m a d e a r e v i s e d e s t i m a t e of t h e s t o c k of s u b s i d i a r y silver
coin, a n d a s a c o n s e q u e n c e of s u c h r e v i s i o n t h e r e h a s b e e n a r e d u c t i o n of $9,700,000.
N O T E 9,—The d e t a i l s of t h e f o r e g o i n g t a b l e , s h o w i n g t h e a m o u n t of e a c h k i n d of m o n e y i n c i r c u l a t i o n e a c h y e a r s i n c e 1860, a r e o m i t t e d ; b u t t h e y m a y b e h a d u p o n a p p l i c a t i o n t o t h e S e c r e t a r y of t h e
T r e a s u r y , Division of L o a n s a n d C u r r e n c y , w h e r e a p u b l i c a t i o n c o v e r i n g i n f o r m a t i o n o n t h e s u b j e c t
h a s b e e n p r e p a r e d for d i s t r i b u t i o n .
N O T E 10,—This t a b l e h a s b e e n r e v i s e d a n d s h o w s s l i g h t c h a n g e s f r o m p r e v i o u s figures i n m a n y of
the items.
o E s t i m a t e d J u l y 1.
iiY:
SECRETARY OP THE TREASURY.
TABLE K.—STATEMENT OF UNITED STATES BONDS AND OTHER OBLIGATIONS RECEIVED
AND I S S U E D B Y T H E O F F I C E O F T H E S E C R E T A R Y O F T H E T R E A S U R Y F R O M N O V E M B E R
1, 1909, TO O C T O B E R 3 1 , 1910.
Title of loan.
Received for Received for
transfer and redemption.
exchange.
Five-twenties of 1865, consols of 1866 (act
Mar. 3,1865)
Five-twenties of 1865, consols of 1867 (act
Mar. 3,1865)
Five-twenties of 1865, consols of 1868 (act
Mar. 3,1865)
Funded loan of 1881, 5 per cent (acts July
14,1870, and Jan. 20,1871)
Funded loan of 1891, 4^ per cent (acts July
14, 1870, and Jan. 20, 1871)
Funded loan of 1891 continued at 2 per cent.
Loan of 1904, 5 per cent (act Jan. 14,1876). -.
Funded loan of 1907, 4 per cent (acts July 14,
1870, and Jan. 20, 1871)..
Refunding certificates, 4 per cent (act Feb. 26,
1879)
Gold certificates, series of 1876 (act Mar. 3,
1863)
Gold certificates, series of 1888 (act July 12,
1882)
Gold certificates, series of 1900 (act Mar. 14,
1900)
$57,729,900
Consols of 1930, 2 per cent (act Mar. 14,1900) Loan of 1908-1918,3 per cent (act June 13,1898) - 12,803,900
17,587,750
Loan of 1925, 4 per cent (act Jan. 14,1875)
Panama Canal loan, 2 per cent (acts June 28,
8,977,060
1902, and Dec. 21,1905), series 1916-1936
Panama Canal loan, 2 per cent (acts June 28,
8,165,140
1902, and Dec. 21,1905), series 1918-1938 . . . .
Total
.-.
105,253,750
Issued.
Total transactions.
$2. IOO.
$2,100
400
400
200
200
200
200
100
100
000
300
26,000
6,300
595, 900
595,900
600
600
200
60,200
60,000
97,720,000
000
$87,780,000
67,729,900
12,803,900
17,587,750
8,977,060
8,155,140
98,449,900
193,033,750
186,600, 000
115,469, 800
26,607, 800
35,176, 500
17,964,:
16,310,;
396,737,400
118
REPOIlT ON T H E FINANCES.
TABLE L . — I N T E R N A L AND CUSTOMS RECEIPTS AND EXPENSES OF COLLECTING, FROM
1858 TO 1910.
Customs receipts.
Internal revenue.
Year ended
June 30—
1858
1859
1860
1861
1862
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Receipts.a
Dollars.
(d)
(d)
37,640,787.96
109,741,134.10
209,461,216.25
309,226,813.42
266,027,537.43
191,087,589.41
158,366,460.86
184,899,766.49
143,098,153.63
130,642,177.72
113,729,314.14
102,409,784.90
110,007,493.58
116,700,73203
118,630,407.83
110,581,624.74
113,561,610.68
124,009,373.92
135,264,386.51
146,497,696.46
144,720,368.98
121,686,072 51
112,498,725.54
116,805,936.48
118,823,391,22
124,296,871.98
130,881,613.92
142,606,705.81
146,686,249.44
163,971,072 67
161,027,623.93
147,111,232 81
143,421,67202
146,762,864.74
146,688,674.29
170,900,641.49
273,437,161.51
295,327,926.76
307,180,663.77
271,880,122.10
230,810,124.17
232,904,119.45
234,095,740.86
249,160,212 91
269,666,772.85
251,711,126.70
246,212,643.59
e289,933,519.45
Expenses of collecting.o b
Dollars.
i
108,685,00
253,372.99
385,239.62
5,783,128.77
7,335,029.81
8,705,366.36
7,267,176.11
7,253,439.81
7,593,714.17
5,694,116.86
6,340,230.00
4,609,976.05
4,289,442 71
3,942,613.72
3,656,943.85
3,280,162.22
3,627,956.56
3,657,106.10
4,327,793.24
4,097,241.34
4,424,707.39
4,216,847.26
3,853,035.94
3,678,679.42
3,826,607.98
3,626,038.91
3,770,388,72
3,780,960.41
4,003,485.65
3,879,082.31
4,144,927.02
3,749,029.22
3,754,935,45
3,846,887.56
3,606,798.85
3,705,266.96
4,350,543.05
4,446,318.98
4,404,986.68
4,360,144.97
4,496,479.28
4,507,867,83
4,338,184.70
4,391,660,65
4,641,169.95
4,650,049.89
4,647,715.05
5,008,191.77
Per cent.
(d)
(d)
(d)
(d)
(d)
.29
.23
.18
1.87
2.77
4.65
4,69
3,92
6.30
4.36
4.69
4.40
3.89
3.38
2 99
2 96
3.10
2 96
3.20
2.80
3.06
3.47
3.42
3.06
3.22
2 92
2.88
2 65
2 76
2 52
2.67
2.65
2 62
2 62
2,46
2.17
L69
L61
L43
1.60
1.95
1.94
L86
L76
1.72
1.86
1.85
1.73
Receipts.a
Dollars.
41,789,620,96
49,566,824.38
53,187,511,87
39,682,125,64
49,056,397.62
69,059,642.40
102,316,152.99
84,928,260.00
179,046,651.68
176,417,810.88
164,464,699.56
180,048,426.63
194,538,374.44
206,270,408.05
216,370,286.77
188,089,622 70
163.103.833.69
157,167,722.36
148.071.984.61
130,956,493.07
130,170,680.20
137.250.047.70
186,522,064.60
198.159.676.02
220,410,730.26
214,706,496.93
195,067,489,76
181,471,939.34
192,905,023.44
217,286,893.13
219,091,173.63
223,832,741.69
229,668,684,67
219,522,205.23
177,452,964.15
203,355,016.73
131.818.530.62
152,158.617.46
160,021,761.67
176,654,126.65
149,676,062.35
206.128.481.76
233,164,871.16
238,685,465.99
254,444,708.19
284,479,681.81
261,274,564.81
261,798,856.91
300.251.877.77
332,233,362.70
286,113,130.29
300,711,933.95
333.683.446.03
Expenses of collecting.o o
Dollars.
2,903,336.89
3,407,931.77
3,337,188.15
2,843,455.84
3,276,560.39
3,181,026.17
4,192,682.43
6,416,449.32
6,342,469.99
5,763,979.01
7,641,116.68
5,388,082.31
6,233,747.68
6,568,360.61
6,950,173.88
7,077,864.70
7,321,469.94
7,028,62L80
6,704,868,09
6,601,037.67
5,826,974.32
5,477,421.52
6,023,253.63
6,383,288.10
6,506,369.26
6,693,609.43
6,709,485.76
6,494,847.29
6.427.612.67
6,855,80L74
" 7,156,187.77
7,030,487.00
6,859,986.09
6,964,367.09
6,646,276. 05
6,766,790,98
6,791,872 86
6,736,690,92
7,237,796.40
7,075,372.06
7.162.276.68
7,361,662,83
7,467,692.48
7,713,418.82
7,967,472 89
8,468,710.19
8,665,636.37
9,116,499.44
8,997,669,41
9,436,762 68
9,580,626.25
10,261,073.33
10,665,770.12
Per cent.
6.94
6.86
6.27
7.18
6.67
4.60
4.09
6.39
2.98
3.26
4.66
2 99
3.20
3.18
3.21
3.76
4.49
4.47
4.53
4.96
4.47
3.96
3.23
3.22
2 95
3.07
3.44
3.58
3.33
3,16
3,27
3.14
2 98
3,17
3.74
3.32
5.15
4.43
4.62
4.01
4.78
3.57
3.20
3.23
3.13
2 98
3.32
3.48
3.00
2 55
3.86
3.41
3.20
a Based on warrants issued.
6 The cost of collecting the internal revenue emtjraces the following items: Salaries and expenses of
the Internal-Revenue Service, including collectors, deputy collectors, clerks, etc., and including
expenses incident to enforcing the provisions of law taxing oleomargarine; salaries and expenses of
revenue agents, surveyors of distilleries, gaugers, storekeepers, and miscellaneous expenses; paper
for internal-revenue stamps; expenses of detecting and punishing violations of internal-revenue
laws; and expenses of collecting the corporation tax.
oThe expenses of collecting the revenue frorh customs includes all sums drawn from the appropriation made by Congress for that purpose. The money is expended for salaries, rents, labor in weighing,
gauging, and measuring imported merchandise, revenue boatmen, repairs, and other expenses incident
to rented buildings, stationery, and the traveling expenses of special agents, but does not include
disbursements for revenue cutters, fuel, lights, water, furniture, janitors, etc., for buildings owned
by the Government, nor disbursements for erecting new •buildings, all of which are paid for from
specific appropriations made for those purposes.
The expenses of collecting internal and customs revenue do not include the disbursements for
salaries, etc., incident to auditing these accounts in the office of the Auditor for the Treasury
Department.
dNodata.
«Includes $20,951,780.97 corporation tax.
119
SECRETARY OP THE TREASURY.
TABLE M.—STATEMENT SHOWING THE AGGREGATE RECEIPTS, EXPENSES, AVERAGE
NUMBER OF PERSONS EMPLOYED, AND COST TO COLLECT INTERNAL REVENUE IN THE
SEVERAL COLLECTION DISTRICTS DURING THE FISCAL Y E A R ENDED J U N E 30,
1910.
Collection districts.
Alabama
Arkansas
F i r s t California . F o u r t h California
S i x t h California
. Colorado
Connecticut
Florida
Georgia
Hawaii
First Illihois
Fifth Illinois
E i g h t h Illinois
T h i r t e e n t h Illinois
Sixth Indiana
Seventh Indiana
Third Iowa
Fourth Iowa
Kansas
'Second K e n t u c k y
Fifth K e n t u c k y
Sixth Kentucky
Seventh Kentucky
Eighth Kentucky
Louisiana
Maryland
Third Massachusetts
First Michigan
Fourth Michigan
Minnesota
F i r s t Missouri
S i x t h Missouri
Montana
Nebraska
New Hampshire
First New Jersey
Fifth New Jersey
New Mexico
First New York
Second New York
Third New York
Fourteenth New York
Twenty-first N e w York
Twenty-eighth New York ...
F o u r t h North Carolina
Fifth North Carolina
North and South Dakota
FirstOhio
T e n t h Ohio
Eleventh Ohio
E i g h t e e n t h O h i o . . -.
Oregon
First Pennsylvania
. Ninth Pennsylvania
Twelfth Pennsylvania
Twenty-third Pennsylvania.
South Carolina
Tennessee
Third Texas
Fourth Texas
Second Virginia
Sixth Virginia
Washington
West Virginia
oAggregate receipts.a
,090.91
$196,
S
145, 339.69
1,198.91
6,555.
;,171.09
713:
:,
974, 666.25
1,810.24
948,
2,724,, 799.86
1,431 ,224.12
1,987.23
450:
1,132.51
209;
1,177,71
10,626,
',080.00
29,419:
\
8,669: 689.25
55i:, 326.77
10,714:,721.85
,518.17
18,170:
1,273.08
499:
',
627, 898.93
664,,632.62
3,417,.504.76
17,507,,240.78
S
4,295; 906.01
3,971,,136.68
3,0681,491.24
;,
4,082: 363. 52
1,056.36
8,310:
1,103.69
5,676:
5,976:,016.20
919:, 698.39
S
2,995, 236.00
>
8,915, , 619.90
1,949,,291,96
813,385.05
2,742;,756.02
704 , 663.34
606;,257.72
8,227:,958.81
128;,068.95
9,331 ,774.87
7,011 , 0 9 2 70
:,
9,214: 915.83
;,
5,548; 349.92
2,362,,567.68
, 625.39
2,
.,181.44
2; 666:
3,264;, 452.68
217,,857.35
14,444,,866.53
1,509.86
2,359;
.,
1,076, 610.07
3,101;,868.30
1,981.61
743,
•,
8,569i 677.33
1,705.41
3,039,
2,236,,116.97
12,116,,471.69
167:, 046.92
:,
2,342; 365.81
1,722. 60
860,
:,038.22
342,
,
5,022, 923.18
1,012,,247.30
1,216:, 130.84
1,693:,868.92
Expenses.^
$30,342.21
21,177.33
163,523.33
48,606.40
28.268.65
30.172.81
45,836.00
32,449.75
42,16271
14,296.11
100,401.66
180,305.39
74.227.66
18,510,61
91,993.79
106,716,64
20,369.37
21.105.98
28,437.13
97,620.55
343, n o . 72
97,724.29
160,633.42
140,615.74
63,786.73
163,656.18
94,835.43
45,434.66
18,229.13
47,031.35
69,488.69
66,646.72
26,179.66
64,996.74
21,688.38
18,669.74
44.669.82
12,829.67
61.866.68
85,773.67
64,755.09
66,227.01
42,41216
47.650.69
49,66L04
62,660.17
18,373.81
164,991.37
46,396.07
29,433.94
40,570.21
22,261.78
"109,998.81
73,27212
38,654.07
193,689.08
24,388.64
93,315.37
22,280.48
18,496.39
69,769.66
72,755.84
36,481.90
46.186.99
Average
n u m b e r Cost t o
of per- c o l l e c t
sons e m $1.
ployed.
17
10.165
.146
.025
.068
.029
.032
.017
.023
.093
.068
.009
.006
.009
.034
.009
.006
.041
.034
.043
.029
.020
.023
.040
.046
.013
.020
.017
.008
.020
.016
.008
.029
.032
.020
.031
.031
.005
.100
.007
.012
.007
.010
.018
.018
.019
.016
.084
.011
.019
.027
,013
.030
.013
.024
.017
.016
.146
.040
.026
.054
.012
.072
.029
.028
0 B a s e d o n r e p o r t s of collectors.
6 T h e s t a t e m e n t of t o t a l e x p e n s e s i n c l u d e s s a l a r i e s a n d e x p e n s e s of i n t e r n a l - r e v e n u e a g e n t s , sala r i e s of t h e officers, c l e r k s , a n d e m p l o y e e s i n t h e office of t h e C o m m i s s i o n e r of I n t e r n a l R e v e n u e ,
a m o u n t s e x p e n d e d i n d e t e c t i n g a n d p u n i s h i n g v i o l a t i o n s of i n t e r n a l - r e v e n u e l a w s , cost of p a p e r
for i n t e r n a l - r e v e n u e s t a m p s , a n d c e r t a m m i s c e l l a n e o u s e x p e n s e s .
120
REPORT ON T H E FINANCES.
TABLE M.—STATEMENT SHOWING T^E AGGREGATE RECEIPTS, ETC.—Continued.
Aggregate receipts.o
Collection districts.
Expenses. &
•
First Wisconsin
Second Wisconsin
Philippine Islands
Total
Amount of expenses as above stated
Expenses not included in above
Average
number Cost to
of per- collect
sons em$1.
ployed.
$7,553,327.40
1,136,366.53
c229,105.44
$70,378.37
28,126.46
29
15
• 289,957,220.16
4,333,732.80
1,397
$0 009
.025
$4,333,732.80
710,769.80
Total expenses fiscal year ended June 30,1910
d 6,044,602.60
Cost to collect $1
.0174
o Based on reports of collectors.
b The statement of total expenses includes salaries and expenses of internal-revenue agents, salaries
of the officers, clerks, and employees in the office of the Commissioner of Internal-Revenue, amounts
expended in detecting and punishing violations of internal-revenue laws, cost of paper for internalrevenue stamps, and certain miscellaneous expenses.
cIn addition to this amount, $36,066.36, in the aggregate, was collected by internal-revenue collectors from sale of stamps affixed to Philippine products at various ports of entry in the United
States, and which remains unsegregated in the above statement of aggregate receipts. The names
of the districts, with the amounts so returned as above, are as follows: First California, $23,003.85,
Colorado, $63, Georgia, 38cents, Hawaii, $4,751.05, firstlllinois, §2,642.64, fourth Iowa, $240, Minnesota,
$411. first Missouri; 30 cents, first New Jersey, 23 cents, second New York, $4,651.65, fourteenth New
York, 39 cents; twenty-eighth New York, $300.23; and first Ohio, $1.64..
d Based upou amounts actually paid. These expenses differ slightly from those shown on page 118,
which are based upon warrants issued.
T A B L E N . — S T A T E M E N T OP B U S I N E S S OP T H E CUSTOMS DISTRICTS FOR THE FISCAL Y E A R ENDED J U N E 30,
Value of exports.
Vessels entered. Vessels cleared.
Districts and ports.
Alaska (Juneau), Alaska
Albany. N . Y . . .
Albemaxle (Elizabeth City), N. C .
Alexandria, Va
.
Anna.poli.<?, Md
,
Apalachicola, Fla
Arizona (Nogales), Ariz
Aroostook (Houlton), Me.
Atlanta. G a
Baltimore, Md
Bangor, Me
Barnstable, Mass
Bath, Me
Beaufort, N. C,
Beaufort, S. C
Belfast, Me
Boston and Charlestown (Boston),
Mass
Brazos de Santiago (Brownsville),
Tex
Bridgeport, Conn
Bridgeton, N. J
Bristol and Warren, R. I
Brunswick, G a . . .
..1.. .
Buflalo Creek (Buffalo), N. Y
Burlington, Iowa
Burlington, N, J
Cairo, 111
Cape Vincent, N, Y
Castine, Me
Champlain (Plattsburg), N. Y
Charleston, S, C
Chattannogn,, Tenn..
Cherrystone (Cape Charles City),
Va
Chicago, HI
Cincinnati, Ohio..
Columbus,' (}hio
Corpus Christi, Tex
Foreign.
358
DocuEntries ments
of mer- issued
Coast- chandise. to vessels.
wise.
Foreign.
Coastwise.
435
319
407
4
34
4
655
I
8
.71
1,549
16
573
3
8
73
2,005
5
52
1,355
1
7
41
.
3*
1,225
406
5
2,425
127 """255"
205
62*
1,135
1,250
121 1,683
I
2
I
34 " " ' 4 6 3 '
747 2,959
6,444
1,141
1,044
22
481
37
'
i'
74
691
2*
5
2
1,386
1,450
3
369
3,056
419
i,236
11
2,463 ""2,'34i"
46
107
263
6,509
1910.
144
316
215
98
63
83
4,102
1,373
257
17,012 ""i,"399'
71
26,388
333
40
148
97
61
63
127
71
86,903
657
3,126
886 **'*387"
380
47
50
11
412
35,505
33
9
123
23
1,802
58
57
235
36,765
489
364
65
94
75
375
37,822
3,991
543
2,050
197
no
ii"
Duties and
tonnage tax.
Aggregate
receipts.
Expenses.
Foreign.
77,366,6i2
1,231,626
121
37,700
258,134
2,270,290
68,246,499
880,151.80
728
.029
45,684.18
12,828.26
2,416.14
344.90
5,528.05
73,167,93
452.15
357.70
406,09
14.739.20
4,294.24
53,871,94
16,517.29
1,802 63
32
9
6
2
5
56
2
2
3
13
6
42
12
3
2.016
.036
.817
7,241
1.471
.063
4.872
31.852
1,319.90
282,315.57
39,101,02
8,820,12
42,382 00
3
199
26
4
31
8.799
.027
.049
.058
.403
162,49
7,833.54
30,150,188.53
30,452,668.07
15,962.61
360,096.76
2,939.22
36.79
2,997.48
1,155,675.55
1.01
22,664.66
361,113.81
2,957.23
47.63
3,757.63
1,165,565,10
92.81
11.23
38,879.01
353.40
1,026,08217
56,249.70
7,219.16
39,574.58
464.31
1,029,371.12
57,810.28
7,394.59
10,487,176.02
794,603. 65
151,227.25
100,879.80
150.00
10,506,425.15
797,665. 61
151,428.67
105,172.03
$0.970
.050
6,906
56, 617
42. 874
3,488
,190
,536
,107
,069
.075
4,810
.240
129.791
9.966
.456
75,495
136,607
$10,365
712,84
231,380,29
41,388,68
54,630.36
4,412,674,07
327,216.72
646.59
26,179.54
25
13
4
2
2
4
33
15
3
212
19
7
6
2
4
7
$54,205.21
19,152.48
2,900.66
I,302.20
977.53
3.785.85
44,322,15
23,770.37
5,850,99
316,609.51
24,617.27
3,703.48
6.382.86
1,395,25
3,481.33
3,708.69
$55,898,55
383,102,89
420.00
23.00
22 80
1,085,51
233,024.52
44,362,99
54,695. 85
4,577,166.61
328,591.76
769,99
26,619,95
10.75
349.32
8,128.52
$47,675.08
382,512.95
Domestic.
Average
num- Cost t o
ber of collect
persons
$1,.
employed.
28,044
500.
$1,157,649
205,386
5,728,061
ii7
3,225
148,870
1,277,344
i4,592,6i4
33,511,333
2,526,324
15,082,396
8,104,821
431,762
6,096,958
ii2
ii.580,999
151,380
zn
tei
o
o
W
H
zn-
.372
9.249
.052
.286
.244
to
T A B L E N . — S T A T E M E N T OF B U S I N E S S OF THE CUSTOMS DISTRICTS FOR T H E FISCAL Y E A R ENDED J U N E 30, 1910—Continued.
Vessels e n t e r e d . Vessels cleared.
Districts and ports.
Foreign.
Council Bluffs, I o w a .
C u y a h o g a (Cleveland), Ohio
D a y t o n , Ohio
D e l a w a r e (WTilmington), Del
D e n v e r , Colo
Des Moines, I o w a
D e t r o i t , Mich
Dubuque, Iowa
Duluth, Minn
Dunkirk, N . Y
E a s t e r n (Crisfield), M d
E d g a r t o w n , Mass
Erie, P a
..Evansville, Ind
F a l l R i v e r , Mass
Fernandina, Fla
F r e n c h m a n s B a y ( E l l s w o r t h ) , Me-.
Galena, 111
Galveston, T e x
Genesee ( R o c h e s t e r ) , N . Y
Georgetown, D . C
Georgetown, S . C
Gloucester, Mass
G r a n d R a p i d s , Mich
Great E g g H a r b o r (Somers P o i n t ) ,
N.J
H a r t f o r d , Conn
Hawaii
i
Houston, Tex
H u m b o l d t ( E u r e k a ) , Cal
H u r o n ( P o r t H u r o n ) , Mich
Indianapolis, I n d
Jacksonville, F l a
K a n s a s City, Mo
K e n n e b u n k , Me
Key West, Fla
Knoxville, Tenn
L a Crosse, W i s
Lincoln, Nebr
Coastwise.
Foreign.
1,607
6,696
1,929
V a l u e of e x p o r t s .
DocuEntries ments
of m e r - i s s u e d
Coast- c h a n d i s e . t o v e s sels.
wise.
2,527
3,324
2,402
3,467
'"323
3,945
31
""28i
3,999
29
46
4,123
801
209
1,240
307
31,714
84
532
36
1
190
35
564
1
194
22
10
35
.195
638
-73
2
259
879
462
556
7
393
925
108
55
1
125
2
19
1,325
2
520
1
138
172
1,687
38
1,314
53
1
131
332
228
108
67
254
312
62
6,467
2
504
2
52
1,686
no
192
37
27
2,469
2,356
2,660
728
809
1,128
3,322
228
5
15,642
948
372
3,578
3
3,383
20
9
246
388
'i45
381
20
503
14
177
16
109
171
112
24
205
9
71
25
31
56
455
219
130
27
19
39
165
180
23
7
97
21
Duties and
toimage tax.
Aggregate
receipts.
Expenses.
Foreign.
$14,327. 65
1,757,772 54
130,366.25
11,842 44
225,610.85
52,211.64
1,964,762,70
21,161.28
42,370,42
4,064.17
126.49
26,480.25
126,766.82
66,784,62
5,728,76
433.92
$14,333. 65
1,763,304.47
130,390,35
12,151.58
226,324.00
52,297.75
1,982,193.00
21,303.96
47,853.27
4,115.14
200.00
613,49
27,222 05
126,803.53
66,923,70
6,343,92
728.94
434,111.13
509,756,04
188,425,43
29.97
28,113.33
127,353.63
463,055,00
511,37217
190,596.58
49.38
30,663.25
127,375.50
271,359.02
1,563,737.05
91,228,75
2,627.91
475,680,36
225,500,62
35,922 94
831,543,62
262.48
590,997.13
3,402 60
216.31
272,587.60
'1,575,319.15
91,234.95
2,890.63
480,496.97
226,240.05
38,920.37
836,477.11
268,48
613,074.28
3,410.42
55.85
13,135.71
'""i2,'979.'3i
Domestic.
$10,025,685
$5,616
197,611
38,171,261
"4," 959," 373"
5,899,509
1,721
24,015
173,154,977
1,360,959
22,994
1,145
6,731
300,032
73,763
1,031,182
23,571,936
215
40,258
2,390,875
4,712
1,033,312
Average
n u m - Cost t o
b e r of collect
persons
$L
em- I
ployed.
$370.00
43,751,84
8,082 95
9,187,03
13,273.57
3,058.86
94,361.89
• 404.80
15,997.04
1,287,47
3,610, 51
2,405,13
5,877.03
6,500,68
6,383.06
2,062.30
3,636,56
364,75
95,396.07
24,808.58
19,168,27
265.00
22,221.88
7,648,00
$0,026
.025
.062
.756
.059
,058
.048
.019
.334
.313
18.053
3,920
.216
.051
.095.325
4,899,38
11,669.13
98,358,81
4,113.84
2,989,72
62,579,34
11,437,67
9,707,57
33,272 30
314.55
45,202 29
446. 41
375.85
2,185.39
22.650
.043
.062
.045
1,034
.130
.051
.249
.040
1.172
.074
.131
6.730
.166
.206
.049
.101
5,367
.725
.060
Little Egg Harbor (Tuckerton),
N.J
L o s Angeles, Cal
Louisville, K y .
Machias, Me
M a r b l e h e a d , Mass
Memphis, Tenn
Memphremagog (Newport), Vt
M i a m i ( T o l e d o ) , Ohio
Michigan ( G r a n d H a v e n ) , Mich
Milwaukee, Wis
M i n n e s o t a (St. P a u l ) , Minn
Mobile, Ala- Montana and Idaho (Great Falls),
Mont
N a n t u c k e t , Mass
Nashville, T e n n
N a t c h e z , Miss
Newark, N. J
:...
N e w Bedford, Mass
N e w b u r y p o r t , Mass
N e w H a v e n , Conn
N e w L o n d o n , Conn
N e w Orleans, L a
Newport, R. I
Newport News, Va
NewYork, N . Y
N i a g a r a ( N i a g a r a Falls), N . ' Y
Norfolk a n d P o r t s m o u t h (Norfolk), V a
North and South Dakota (Pembina), N . Dak
Omaha, Nebr
Oregon ( A s t o r i a ) , Oreg
Oswegatchie ( O g d e n s b u r g ) , N . Y . .
Oswego, N . Y
Paducah, Ky
Pamlico (Newbern), N . C
P a s o del N o r t e ( E l P a s o ) , T e x
Passamaquoddy (Eastport), M e . . ,
Patchogue, N . Y
P e a r l R i v e r (Gulfport), Miss
Pensacola, F l a
Peoria, 111
Perth Amboy, N. J
Petersburg, Va
Philadelphia, P a
Pittsburg, Pa
P l y m o u t h , Mass
P o r t Jefferson, N . Y
Portland and Falmouth (Portl a n d ) , Me
312
'•3'
510
229
98
23
241
680
1,394
7,668
13,160
195
510
238
116
52
243
682
1,430
7,707
13,171
204
2,903
1,207
11
22
472
27,107
761
106
4,212
9,727
775
184
155
1
2
10
329
1,062
1,086
3,153
560
100
56
4
23
11
1,017
1
591
3,880
944
10
1
308
1,067
132
3,740
609
115
2,085
857
2,046
18
18
'"'67'
688
1,025
152
2,018
"'376'
10
288
1,063
1,996
375
1,035
'iso
275
221
133
147
344
278
155
639
827
"i,'ii8
625
1,188
376
182
386
55
'i,*246
272
11
868
10
16,126
258
1,432
752,250
34,216
4,235
695
25
9,876
919
1,304
5,521
2,796
4
141
3
395
508
41
119
551,862 87
244,466,67
153.95
4,404.03
117,948.30
311,405. 04
115,630.09
9,190.37
755,985.25
1,213,468,10
90,059.53
560,703, 22
245.666,09
522,02
4,635,73
l i s , 454. 78
316,766.35
. 116,500.36
9,451.95
759,521,50
1,220,848.39
98,485.72
5,017
585
130,894
1,412,116
9,474
59,630
2,761
13,060.769
652,978
103,303
135,562
12,542,223
27,523,484
8,561
1,851,360
12
122
287
874
2,680
56,364
2,927
5
3
11
41
1
57
120
2
93
65
366
91
329
5,572
25
427,006,24
432,089.73
34,904.47
2.15
189,514,26
273,432.29
460.28
153,209,27
•1,311,04
6,775,589.15
34,673.43
330,286.82
219,110,605,86
374,964.42
34,956.13
215
192,675.51
242,221.57
501.53
153,925.60
4,081,58
6,811,803,42
34,816.91
336,189.95
224,265,173. 52
380,988.74
548
3,665
57
1
36
3
974
6
89
4,480
1,000
31
74
133
137
48
212
85,088.88
IOO,273.07
123,227,26
21,834,29
290,343.59
176,258.73
146.27
634,253.54
66,371.71
2,271.12
646,765.34
69,682 56
55
60
21
66
189
266
327
78
93
30
111
4
901
13,367.53
28,308.96
30,097,11
339,584.03
97,423,39
22,135,244.50
857,008.28
1,710,84
16,761.24
31,362.40
33,119.91
346,062 92
99,224.64
22,334,490.55
858,064.63
1,729.14
1,216
180
210,037.26
.076
20
1
.141
3
2 269.953
,071
7
.034
5
1,196
2
.088
7
1.839
5
,054
271
.112
4
.123
38
57
.021
.183
8,155,818
18,934,51
13
.206
79,768
14,412,952
'9i,"94i"
123,730
4,c531,631
2,516,202
6,879,979
1,239,196
30,515
8,393,210
22,614,472
23
4
12
30
12
2
6
53
24
3
7
11
3
8
5
461
16
2
2
.315
,078
,778
.117
.097
110,570
27,117
31,632 92
9,551.46
16,984.44
34,057,28
17,146.32
621.65
8,286.18
75,902 92
28,123.17
550. 60
11,387.55
15,665,50
3,478.44
11,166.82
9,004.67
591,70210
27,969.51
1,470.99
1 2 00
57,344.20
37
73,214
2,355
1,134
17,698,126
3,125,114
144,592
32,823
7,629
140,303,346
'
228,568.41
.079'
.074
8.537
.516
.079
.165
,079
1.065
.036
.051
.248
5,058,127
634,288,230
17,195,072
721,907
'i,^ 047,'098
428,487
" 8 3 3 ,'222
"72,'433,'i2i
4,133
5,173,333
29
234
1
29
10
5
3
5
44
6
14
26
44
20
32,753,03
366.70
4,930.20
580.40
13,722.50
8,228.46
600.00
13,603,82
7,508,05
366,790,30
3,882 96
41,494.89
4,726,259.58
69,869,33
91^847.49
97,995.19
122,988.77
20,491.96
289,868.91
175,762 76
446.60
44,151.08
18,092 95
4,456.54
2,390.19
9,343 74
52,367.66
9,255.50
10,067.52
27,465,92
62,012.93
24,473.26
3,657
3,648
.117
.404
zn
H;
O
O'
^,
H;
W
H
W
>
zn
d
W
Kj
.679
.499
.105
.032
.091
.026
.033
.851
.251
CO
T A B L E N . — S T A T E M E N T OF B U S I N E S S O F T H E CUSTOMS DISTRICTS FOR T H E FISCAL Y E A R E N D E D ' J U N E 30, 1910—Continued.
Vessels entered. Vessels cleared.
Districts and ports.
Foreign,
Coastwise.
For
eign.
Coastwise.
V a l u e of e x p o r t s .
DocuEntries ments
of m e r - issued
chandise. t o vessels, •
Duties a n d .
tonnage tax,
Aggregate
receipts.
Expenses.
Foreign.
Domestic.
to
Average
n u m - Cost t o
ber of collect
persons
$1.
employed.
•
P o r t o Rico
397
Portsmouth N. H
7
Providence, R . I
15
Puget Sound (Port Townsend),
Wash
2,570
Richmond, Va
2
R o c k I s l a n d , 111
Sabine ( P o r t A r t h u r ) , T e x
158
SacOjJMe
Sa? Harbor N Y
St. Augustine, Fla
S t . Joseph, Mo
1
S t . L o u i s , Mo
24
S t . M a r k s (Cedar K e y s ) , F l a
2
St Marys Ga
92
Saiem a n d B e v e r l y ( S a l e m ) , M a s s . .
Salt L a k e Citv U t a h
Saluria ( E a g l e P a s s ) , T e x - . 217
S a n Diego, Cal
1,021
S a n d u s k y , Ohio
465
S a n Francisco, Cal
Savannah, Ga
. -120
Sioux C i t y , I o w a
S o u t h e r n Oregon (Coos B a y ) , OregSpringfield, Mass
Stonincton Conn
5
Superior ( M a r q u e t t e ) , M i c h
- - 1,543
Svracuse. N Y
214
Tampa, Fla
T e c h e TBrashear^ L a
Vermont (Burlington), V t
V i c k s b u r g , Miss
W^aldoboro, Me
Wheeling W V a
W i l l a m e t t e ( P o r t l a n d ) , Oreg
Wilmington, N. C .
1
133
347
1
686
395
5
21
1,025
2,678
1
93
236
1
18
26
2
31
95
1,625
550
677
192
1,166
449
170
5,625
6
2,065
91
55
69
$984,994.36
492.75
639,875.12
$995,624.40
1,489,03
641,314,13
$42,015
1,036
18,179
667
1,730,580.53
183,441,35
23
19
38
526
7,075
1
573,023 46
2,149. 89
1'52,516,62
83,899. 52
1,927,406,27
1,773,275,51
183,830,04
51.79
31,873.96
9.08
6.40
3,362 75
120,466. 46
2,394,621.15
2,997.28
28.25
5,648.25
17,664. 31
91,223.30
139,399.85
4,083.42
6,667,744. 89
77,560. 59
10,790, 68
5,00
573,723,17
2,234. 85
160,599. 95
84,126. 96
1,939,316.53
231,527
. 101
11
938
32
176
111
3
78
52
9,00
764,334.32
351
'"'eis'
65
44
1,610
855
614
1
2
3
7,386
7
1,416
1
7,571
277
33
63
130
188
""i46"
66
2
68
1
52
21
42
829
60
93
39
741
100
31
120
2,227
1,234
744
33,617
623
116
'"'isi'
15
7
75
63'
37
78
1,240
126
"•'ios'
1,030
82'
10
2,929
142
519
7,786 " " i 4 2 '
241
76
37,734
18
45
63
156
200
2,624
116
113
80
•
30,174 76
6.58
3,285.14
120,310.00
2,387,245 24
2,631.68
16 50
5,014 68
17,004 14
85,943.02
136,662. 34
3,977.26
6,606,89L67
75,372 60
10,773 33
$5,822,602
12,870
29,889,477
^41,102
20,215,873
1,373
1,125,250
'824
118,133
26,275
644,694
11,821
4,508,117
902,719
700,755
30,536,066
63,416,334
7,778,983
16,129
4,379,843
39 70
771,258 24
1,349,028
6,005,986
1,412 39
i,8i7.6i
31
716,796.78
31,097.88
75.14
720,848.78
32,684,46
982
8,191,296
20,922,398
$78,909.92
3,016.29
• 26,879.62
194,734.81
11,064.-55
660.30
15,373.20
753.92
540. 64
1,50217
7,674.09
63,519. 93
2,478.13
670. 35
6,514.36
3,274. 00
63,569,31
29,114. 70
4,213.14
499,420. 29
11,744,98
822. 94
1,335.75
10,522 34
824.11
46,349.69
8,462.85
51,58214
721.50
2,988.35
81,950.48
620,65
5,397.57
1,086,25
59,370,97
6,805.55
67
4
16
$0.079
2.026
.042
.110
146
.060
5
2
12.943
9 [ .482
2
83.031
2
84. 475
2
.447
3
.064
52
.027
3
.827
2
23.729
6
1.153
3
.185
44
,697
,209
20
1.032
9
,075
346
,151
8
2
,076
2 267.15
6
.018
2
.369
.289
49
.101
4
.027
35
3
3
75.273
69
. 106.
1
2 971
6
14.456.
2
.082
40
4
.20S
Wiscassett, Me
Yaquina, Oreg
York, Me
Total
31
-
36,263
4
68
13
84,568
36,525
i'
31
69
4
72
3
2
360.22
106.53
2.50
86,056 1,413,943 26,593 0333,331,152 86 6339,642,177,75
3,004.50
1,070.61
502 60
3
2
2
8.341
201.04
34,900,722 1,710,083,998 cl0,515,497,35 •8,060
o Duties and tonnage collected, as above
$333,331,152.86
Add collections in 1909 covered into Treasury in 1910
-.
•.
352,292,17
Total customs receipts for fiscal year 1910
333,683,445.03
b Includes miscellaneous receipts, such as customs fees, fines, services of customs officers, etc.; and collections for Department of Commerce and Labor, including head tax,fees
and fines, and other miscellaneous collections.
c Expenses reported by collectors, as above, $10,515,497.35
$10,515,497.35
Deduct expenses paid in 1910 from 1909 advances
23,681.46
Expenditures from appropriation for collecting customs revenue
Add amount paid for detection and prevention of frauds
Total cost of collection, fiscal year 1910
Cost to collect $1 based upon aggregate receipts
-
-
10,491,815.89
173,954.23
10,665,770,12
.031
zn
a
o
•^
W
H
>
zn
cl
Kl
APPENDIX TO THE REPORT ON THE FINANCES.
127
R E P O R T S OF HEADS OF BUREAUS.
REPORT OF THE TREASURER.
TREASURY DEPARTMENT, O F F I C E OF THE TREASURER,
Washington, August 31, 1910.
SIR: The transactions of the Treasury of the United States for the
fiscal year ended June 30, 1910, and its condition, at the close of the
year, are presented in the following report.
ORDINARY RECEIPTS AND DISBURSEMENTS FOR 1909 AND 1910.
The ordinary receipts by warrants (and adjustments for moneys
received but not covered by warrants), for the fiscal year 1910, were
$675,511,715.02, the maximum sum in the history of the Government. Compared with the preceding year there was an increase of
$71,922,225.18 in the receipts, while the ordinary disbursements
were $659,705,391.08, a decrease,of $2,619,053.69, which is the surprising feature of the year's transactions; the net result was a surplus
of $15,806,323.94.
The ordinary receipts and disbursements classified for the past two
years are compared in the table following:
ORDINARY RECEIPTS AND DISBURSEMENTS FOR THE FISCAL Y E A R S 1909 AND 1910.
Account.
1910.
Increase.
Customs
Internal revenue:
Ordinary
Corporation tax
Lands
Miscellanebus
Receipts ofthe District of Columbia.
$300,711,933,95
$333,683,445.03
$32,971,511.08
246,212,643.59
22,769,094.89
20,951,780.97
7,700,567.78
42,204,956.95
7,357,750,49
268,981,738,48
20,951,780,97
6,355,797.49
38,153,822.48
7,409,693.33
Total
Deduct—
Moneys covered by warrant in
year subsequent to the deposit thereof
Increase of unavailable items...
604,187,852 76
675,536,277.78
76,744,329.78
1,159,463.61
5,673.50
566,774,19
Add—
Moneys received in fiscal year
but not covered by warrant..
Decrease of unavailable items..
603,022,715.65
674,969,503.59
76,744,329.78
566,774.19
301,960.00
240,251.43
240,251. 43
603,589,489.84
675,511,715.02
71,922,225.18
16,282,468.23
14,301,469.85
26,480,542.87
3,722,025.49
14,776,541.75
24,889,395.32
5,553,252 35
,9,139,215.66
16,976,021.88
19,221,703.68
25,668,786.41
4,757,520.34
11,650,496,50
21,989,143,81
5,612,876.43
9,606,588.53
Decrease.
693,553,65
4,920,233.83
Net available-
$1,344,770.29
4,051,134.47
51,942 84
5,395,904.76
592,689.42
5,673,50
4,797,541.84
264,814.19
DISBURSEMENTS,
Agriculture
Commerce and Labor
Customs
Diplomatic
District of Columbia
Interior civil
Internal revenue
Judiciary
65872°—FI 1910
1,035,494.85
59,624. 08
467,372.87
811,756,46
3,126,045.25
2,900,251.51
129
130
REPORT ON T H E FINANCES.
ORDINARY RECEIPTS AND DISBURSEMENTS, FOR THE FISCAL Y E A R S 1909 and
1910—
Continued.
•
Account,
1909.
1910.
Increase,
DiSBURSEM ENTS—Continued.
Treasury:
Proper
Postal deficiencv
. .- .
War civil
Navy civil
$48,809,911.84
19,501,062 37
2,276,750.63
769,513.11
$53,035,949.10
8,495,612 37
2,261,251.34.
800,491. 71
$4,226,037,32
Civil and miscellaneous
War Department
Navy Department'
Indians
Pensions
Interest on public debt
180,502,149. 47
161,067,462 39
115,546,011.09
15,694,618.11
161,710,367.25
21,803,836.46
180,076,442 16
155,911,705.93
123,173,716. 68
18,504,131.60
160,696,415. 88
21,342,978.83
11,433,295.20
062,324,444.77
. 659,705,391.08
21,870,514.28
Decrease.
Total ordinary
Net
Deficit
' Surplus
58,734,954.93
$11,005,450.00
15,499.29
30,978.60
7,627,705.59
2,809,513.49
17,859,002 51
5,155,750. 46
1,013,951.37
4G0,857. 63
24,489,567.97
2,619,053,69
15,806,323.94
From the foregoing table it mil be observed that as compared
with the preceding year there were increased receipts from customs
of $32,971,511.08, from internal revenue (ordinary) of $22,769,094.89,
from corporation tax (a new source of income) of $20,951,780.97, and
from the District of Columbia of $51,942.84, while there were reductions in the receipts from public lands of $1,344,770.29 and from miscellaneous sources of $4,051,134.47.
The disbursements on the various accounts show increases in some
classes that are more than offset by reductions in others. The
leading increase of disbursement was in the Navy Department
of $7,627,705.59, followed by that in Commerce and Labor of
$4,920,233.83, Treasury proper of $4,226,037.32, Indians of $2,809,513.49, and smaller increased disbursements are recorded in diplomatic. Agriculture, Judiciary, internal revenue, and navy civil.
The chief reduction of disbursement was in the postal deficiency of
$11,005,450. The War Department cost $5,155,756.46 less than in
the preceding year. The District of Columbia follows with a reduction of $3,126,045.25. For interior civil $2,900,251.51 less was spent.
Disbursements for pensions fell off $1,013,951.37; for customs, $811,756.46; for interest on the public debt, $460,857.63; and for war
civil $15,499.29.
The net decrease was $2,619,053.69, which was accomplished, perhaps in some instances, by postponing to a future day a part of the
disbursements provided for by existing law.
As compared with the preceding two fiscal years in which there were
net increased ordinary disbursements, in 1908 of $69,397,261.60 and
in 1909 of $41,222,054.13, the showing distinctly emphasizes the fact
that '^the time is clearly ripe for wise and judicious savings in federal
expenditures."
THE PANAMA CANAL.
Provision has been made for defraying the cost of construction of
the Panama Canal from the proceeds of United States bonds issued
and sold for the purpose, but it has not.been deemed advisable to.issue
such bonds during the past fiscal year; therefore additional advances
of $33,911,673.37 were made for disbursements for the Panama Canal
from the general fund. The total net balance expended out of the
131
TREASURER.
general fund of the Treasury to June 30, 1910, reimbursable from
proceeds of bonds not yet sold, is $116,786,747.24.
The proceeds of sales of bonds and the disbursements on account
of the canal to the close of the fiscal year 1910 are set forth, by years,
in the statement following:
RECEIPTS AND DISBURSEMENTS
Proceeds of
U n i t e d States
b o n d s sold.
Fiscal year.
1904 •
1905
1906
1907
1908. •
1909
ON ACCOUNT OF THE PANAMA
•
$31,210,817.95
25,367,768.67
30,731,008. 21
Disbursements
for P a n a m a
Canal.
$50,174,485.00
3,918,819.83
19,379,373.71
27,198,618. 71
38,093,929.04
31,419,442 41
CANAL.
Excess of—
Receipts.
Disbursements.
$50,174,485,00
3,918,819,83
19,379,373.71
$4,012,199,24
12,726,160. 37
688,434. 20
87,309,594.83
170,184,668. 70
33,911,673, 37
4,012,a99.24
86,887,273.11
33,911,673. 37
87,309,594.83
204,096,342 07
4,012,199.24
120,798,946 48
116,786,747, 24
1910
Total
Net
RECEIPTS
AND DISBURSEMENTS ON ACCOUNT OF THE
DEPARTMENT.
POST-OFFICE
The receipts and disbursements on account of the Post-Office
Department are under the exclusive control of the PostmasterGeneral. A statement of transactions relative thereto at the Treasury oflices during the past year will be found on page 164 of this
report.
^^'
TRANSACTIONS IN THE PUBLIC DEBT.
The cash receipts on account of the public debt during the past
fiscal year were $31,674,292.50 in lawful money of the United States
to retire national-bank notes; the cash disbursements on account of
principal of matured loans and fractional currency were $760,925,
and for national-bank notes canceled and retired $32,288,770.5.0, a
total disbursement for the public debt of $33,049,695.50. The net
cash result was an excess of disbursement of $1,375,403. Other
transactions related to the issue and redemption of the United States
paper currency.
Comparison, by items, for the fiscal years 1909 and 1910 may be
seen in the subjoined table:
RECEIPTS AND DISBURSEMENTS ON ACCOUNT OP THE PUBLIC D E B T FOR 1909 AND
Account.
1909,
1910.
Increase.
1910.
Decrease.
RECEIPTS.
Lawful m o n e y deposited to retire
n a t i o n a l - b a n k notes
$45, 624,239,50
$31,674,292.50
N o t e s a n d certificates issued:
U n i t e d States notes
Gold certificates
Silver certificates
132,940,000.00
294,710,000.00
336,860,000.00
129,940,000.00
283,178,000.00
353,997,600.00
$17,137,600.00
764,510,000.00
707,115,600.00
2,605,600.00
Total
$13,949,947 00
3,000,000.00
11,532,000.00
182
REPORT ON T H E FINANCES.
RECEIPTS AND D I S B U R S E M E N T S ON ACCOUNT O F T H E PUBLIC D E B T FOR 1909 AND
1910-
Continued.
Account.
1909.
1910.
Increase.
Decrease.
RECEIPTS—continued.
P a n a m a Canal loan:
Proceeds of b o n d s sold—
Principal
Premium
$30,000,000.00
731,008.21
Total
$30,000,000.00
731,008.21
30,731,008.21
Aggregate
30,731,008.21
840,865,247.71
$798,789,892.50
• 42,075,355.21
1,246,160.00
14,186,500.00
2,027.00
89,562,083.00
758,960.00
1,965.00
32,288,770.50
487,200.00
14,186,500.00
62.00
57,273,313.50
104,996,770.00
33,049,695.50
71,947,074.50
132,940,000.00
' 767,000.00
261,892,000.00
326,796,000.00
129,940,000.00
543,000.00
272,843,000.00
349,294,600.00
$10,951,000,00
22,498,600.00
30,225,600.00
DISBURSEMENTS.
U n i t e d States b o n d s retired
Certificates of i n d e b t e d n e s s retired F r a c t i o n a l currency retired
N a t i o n a l - b a n k notes retired
Total
N o t e s a n d certificates redeemed:
U n i t e d S t a t e s notes
Treasury notes.
Gold certificates
Silver certificates
:
Total-.--
.722,395,000.00
752,620,600.00
Aggregate
827,391,770.00
785,670,295. 50
13,473,477.71
3,000,000.00
224 000 00
13,119,597,00
Excess of receipts
41,721,474.50
In the foregoing table it will be observed that for the certificates
issued an equal amount of the respective coins held in the general
fund are transferred to and held in the? trust funds for their redemption. The United States notes issued are offset by an equal amount
of worn notes in kind canceled and retired, and for the Treasury
notes canceled, and retired a like amount of standard silver dollars
is released from the trust funds and taken up in the general fund in
their stead. Therefore, omitting the issues and redemptions of these
obligations, the actual cash receipts and disbursements are as stated.
PUBLIC DEBT 1909 AND 1910.
There was no change made in the outstanding principal of the
interest-bearing debt during the past fiscal year, at the close of which
the total amount of the public debt, including certificates and Treasury notes, was $2,652,665,838.04, as against $2,639,546,241.04 twelve
months earlier, an apparent increase of $13,119,597. The items
increased were: Gold certificates, $10,335,000; silver certificates,
$4,703,000; while reductions were made in the following accounts:
Matured loans, $758,960; national-bank notes (redemption fund),
$614,478; fractional currency, $1,965; and Treasury notes, $543,000.
133
TREASURER.
Comparison of the pubhc debt is made, by items, for the fiscal
years 1909 and 1910 in the table following:
PUBLIC D E B T , 1909
AND
1910,
Rate.
Outstanding
J u n e 30,1910.
P.ct.
2
3
4
2
A f t e r A p r . 1,1930After A u g . 1,1908.
F e b . 1,1925
A u g . 1,1916
$646,250,150,00
63,945,460,00
118,489,900.00
84,631,980.00
$646,250,150.00
63,945,460.00
118,489,900.00
84,631,980.00
913,317,490.00
....
Outstanding
J u n e 30,1909.
913,317,490.00
2,883,855.26
53,282 50
346,681,016.00
28,5I8,94L00
6,860,787.28
2,124.895.26
53,282 50
346,681,016.00
27,904,463.00
6,858,822.28
384,997,882,04
Interest-bearing d e b t :
Consols of 1930
L o a n of 1908-1918
L o a n of 1925
P a n a m a Canal loan
When payable.
383,622,479.04
852,601,869,00
484,414,000.00
4,215,000,00
862,936,869.00
489,117,000.00
3,672,000.00
T o t a l interest-bearing d e b t .
D e b t bearing no interest:
M a t u r e d loans
Old d e m a n d notes
U n i t e d States notes N a t i o n a l - b a n k notes
Fractional currency.
. .,
Ondemand
do
do .
do
do.
Total.
Certificates a n d notes issued on deposits
of coin a n d bullion ( t r u s t funds, act
Mar. 14,1900) ;
Gold certificates
Silver certificates
T r e a s u r y notes of 1890
Total
On d e m a n d
do
.do
1,341,230,869.00
Aggregate
.
. .
1,355,725,869.00
2,639,546,241.04
2,652,665,838.04
MATURED BONDS NOT PRESENTED FOR REDEMPTION.
A material reduction was made in the amount of matured obligations outstanding during the fiscal year 1910. However, the attention of owners of such obligations is invited to the following statement
of the matured loans not yet presented for redemption:
Loan.
F u n d e d loan of 1891
F u n d e d loan of 1891 c o n t i n u e d a t 2 p e r cent
L o a n of 1904
F u n d e d loan of 1907.
Refunding certificates
Total
CHECKS ISSUED FOR INTEREST ON THE REGISTERED
UNITED STATES.
Matured.
Sept. 2,1891
A u g . 18,1900
F e b , 2,1904
J u l y 2,1907
J u l y 1,1907
Amount
outstanding.
$23,750
32,000
14,450
1,129,250
17,160
1,216,610
BONDS OF THE
The checks issued for interest on the registered bonds of the United
States are mailed quarterly to the payees at the last address given,
but owing to changes in location or death of the payees, a large number of such checks are not delivered and are returned to and filed in
this office awaiting application therefor. Through persistent effort,
by correspondence and otherwise, during the past fiscal year it has
been possible to locate and to deliver to the rightful owners many of
these checks. However, a great numberof the checks, calling for
several thousand dollars, remains on file.
184
REPORT ON T H E FINANCES.
RESERVE AND TRUST FUNDS.
The reserve of $150,000,000 in gold required by the act of March
14, 1900, has been maintained at the fixed amount during the past
fiseal year. This has been done by the exchange for gold coin each
day of the United States notes and Treasury notes redeemed therefrom. During the fiscal year 1910 these redemptions and exchanges
were, in United States notes, $11,695,012, and in Treasury notes,
$9,880, making a total of $11,704,892.
The trust funds at the close of the fiscal year 1910 aggregated
$1,355,725,869, a net increase of $14,345,000 as compared with those
of twelve months earlier. The gold coin increased $10,185,000 and
the silver dollars $4,160,000. Tliese funds are held for the redemption of the certificates and notes outstanding, for which they are
respectively pledged. The transactions therein and the amount of
the funds at the close of the fiscal year were:
Fiscal year 1910,
Outstanding
June 30, 1909,
Issued.
Redeemed.
Outstanding
June 30,1910.
Gold certificates
Silver certificates
Treasury notes
$852,751,869
484,414,000
4,215,000
$283,178,000
353,997,000
$272,843,000
349,294,600
543,000
$862,936,869
489,117,000
3,672,000
Total
1,341,380,869
637,175,600
622,680,600
1,355,725,869
The revised figures of the several funds at the close of the fiscal
year 1910 were:
RESERVE FUND.
Gold coin and bullion
$150, 000,000
TRUST FUNDS.
[Held for tbe redemption of the notes and certificates for which they are, respectively, pledged.]
Gold coin
„
Silver dollars
Silver dollars of 1890
Total
$862, 936, 869
489,117, 000
3, 672,000
1, 355, 725, 869
Gold certificates outstanding
Silver certificates
outstanding
Treasury notes outstanding
;
Total
$862,936,869
489,117, 000
3,672,000
1, 355, 725, 869
GENERAL FUND—CASH IN THE s VAULTS.
The moneys held as assets in the general fund in the Treasury on
June 30, 1910, ^nd the demand liabilities outstanding at that date
may be studied in the statement following:
I n Treasury offices:
Gold coin and b u l l i o n . . . . . . .
Gold certificates
Standard silver dollars
Silver certificates
United States notes
Treasury notes of 1890
National-bank notes
$32, 228, 616: 24
60,182, 670. 00
3, 055, 994, 00
10, 519, 762. 00
11, 893,146. 00
9, 475. 00
- 4,154, 782. 54
$122, 044,445. 78
TREASURER.
135
Deduct current liabilities:
National
bank 5 per
cent fund- $25,616,415.91
Less notes in
process of
redemption 25, 616, 415, 91
Outstanding warrants and
checks
$10, 634, 917. 36 •
Balances to credit of disbursing officers
55, 594, 390. 04
Post-Office Department balances
- - -.
2, 210,190. 86
Miscellaneous items
10, 784, 983, 68
$79, 224, 481. 94
Working balance in Treasury offices
In national bank depositaries:
To credit of the Treasurer of
the United States- -•.
40, 631, 589, 58
To credit of mints and assay
" offices
428,596,76
To credit of disbursing officers.
11,149,399, 39
$42, 819, 963. 84
52, 209, 585. 73
In treasury of the Philippine Islands:
To credit of the Treasurer of
the United States
To credit of United States disbursing officers
587, 447. 78
2, 883, 202. 79
3,470,650.57
Deduct current liabilities:
Outstanding warrants
Balances to the credit of disbursing officers.
55, 680, 236. 30
1, 642, 200. 03
14, 032, 602.18
15, 674, 802. 21
Balance in banks and in treasury of Philippine Islands
In Treasury offices:
Silver bullion (at cost)
Subsidiary silver coin
.^
Fractional currency
Minor coin
Awaiting reimbursement—United States bonds
and interest paid
40, 005, 434, 09
3, 545, 834. 01
19, 575, 016. 51
131. 25
936,199. 08
12, 096. 89
24,069,277.74
Total balance in general fund June 30, 1910
Total balance in general fund June 30, 1909
Net decrease.....-.-'
106, 894, 675. 67
126, 375,428.10
19, 480, 752. 43
The decrease in the available cash balance is verified by the recapitulation following,. which includes the net results of all accounts of
receipts and disbursements exhibited on previous pages:
136
REPORT ON T H E
FINANCES.
Available cash balance J u n e 30, 1909.
$126, 375,428.10
Add—Excess of ordinary receipts over ordinary disbursements for
1910 ( s e e p , 129)
15,806,323.94
Deduct—
Excess of P a n a m a Canal disbursements over receipts for 1910 (see p . 130)
$33, 911, 673. 37
Excess of public-debt disbursements over receipts for 1910 (see p . 131).
1, 375, 403. 00
•
Available cash balance J u n e 30, 1910
AVAILABLE
142,181,752.04
35, 287,076. 37
106, 894, 675. 67
CASH
BALANCE.
The efforts of the Department to meet the continuing outlay for
construction.of the Panama Canal from the ordinary receipts of the
Government during the past fiscal year resulted in reducing the
balance in the general fund in the Treasury by January 25, 1910,
to $77,085,536.92, the smallest amount held for m a n y ' years.
Improved financial conditions in the later months carried the balaiice
upward, and at the close of the year it was $106,894,675.67, a net
decrease of $19,480,752.43 as compared with that of the preceding
year. °
The monthly disbursements of the Government are of such magnitude that forethought prompts the accumulation of a working balance
in available cash in the vaults of the Treasury of at least $40,000,000.
Such a balance should provide for emergencies in the event of an
unfavorable change in financial conditions.
The balance in the Treasury at the end of each month from January,
1904, is stated in Table No. 31, page 201 of the appendix, and for
July 1 in each year since 1900 in the annexed statement:
AVAILABLE CAS.H BALANCE (INCLUDING T H E R E S E R V E F U N D ) , FROM THE R E V I S E D
STATEMENTS, ON T H E D A T E S N A M E D .
Available cash balance.
Date.
Reserve fund.
Balance.
Total,
$150,000,000 $156,827, 605.37 $306,827, 605.37
150,000,000 178,406, 798.13
328,406, 798.13
150,000,000 212,187, 361.16
.362,187 361.16
150,000,000 238,686, 114.23
388,686; 114.23
150,000,000 172,051, 568.02
322,051, 568.02
150,000,000 145,477, 491.89
295,477, 491.89
150,000,000 180,689, 354.82
3 3 0 , ' " 354.82
150,000.000 272,061, 445. 47 422,061, 445. 47
150,000,000 245,171, 347.73
395,171, 347.73
150,000,000 126,375. 428.10
276,375, 428.10
150,000,000 106,894, 675. 67 256,894, 675. 67
J u l y l , 1900.
July 1,1901.
J u l y l , 1902.
July 1,1903.
July 1,1904.
July 1,1905.
July 1,1906July 1,1907.
July 1,1908.
July 1,1909.
J u l y l , 1910.
GOLD IN THE
TREASURY.
The Treasury holdings of gold amounted to $1,045,165,485.24 at
the close of the fiscal year 1910, not the maximum in our annals,
however, but more than is held under single control elsewhere in the
world.
137
TREASURER.
The total amount of gold in the Treasury on July 1 in each year from
1900, set apart for the respective uses, is recorded in the statement
following:
GOLD IN THE
TREASURY.
Reserve,
F o r certificates in
circulation.
General fund
(belonging to
Treasury),
$150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
$200,733,019
247,036,359
306,399,009
377,258,559
465,655,099
485,210,749
516,561,849
600,072,299
782,976,619
815,005,449
802,754,199
$72,844, 952.68
97,811, 938. 42
103,801, 290.97
104,162, 230.43
66,183, 722.60
71,381, 650.04
140,489, 841.30
154,619, 431,14
71,912, 063.18
77, " • 852.02
92;411, 286.24
Date,
July
July
July
July
July
July
July
July
July
July
July
1,1900
1,1901
1,1902
1,1903
1,1904
1,1905
1,1906
1, 1907
1, 1908
1,1909
1, 1910
BONDS HELD AS SECURITY FOR NATIONAL
Total.
$423,577 971.68
494,848', 297.42
560,200, 299.97
631,420, 789. 43
681,838, 821.60
706,592, 399.04
807,051 690.30
904,691; 730.14
1,004,888, 682.18
1,042,704! 301,02
1,045,165! 485.24
BANKS.
The United States bonds pledged as security for the circulating
notes of national banks assumed a growth of $26,285,810 during the
past fiscal year, and at its close amounted to $686,974,880. The
bonds pledged to secure the public deposits in national banks
amounted to $51,774,700 on June 30, 1910.
The transactions relative to deposits and withdrawals of bonds to
secure circulation and deposits during the fiscal year 1910 may be
observed in the table following:
BONDS H E L D FOR NATIONAL B A N K S , CLOSE OP J U N E , 1909
DURING
1910.
AND 1910,
AND CHANGES
TO S E C U R E CIRCULATION.
Transactions d u r i n g I9I0.
Rate.
K i n d of b o n d s .
Held June
30, 1909.
H e l d Jurie
30,1910.
Deposited.
United
United
United
United
United
States
States
States
States
States
P . ct.
4
3
2
2
2
Withdrawn.
Total
$12,704,550
13; 763,820
563,271,400
46,440,580
24,508,720
$7,058,300
6,419,240
42,301,850
10,014,560
• 5,762,220
$2,834,200
5,390,520
28,433,100
5,382,540
3,230,000
$16,928,650
14,792,540
577,140,150
51 072 600
27,040,940
(ifiO, 689,070 1
loan of 1925
loan of 1908-1918
consols of 1930
P a n a m a of 1936.
P a n a m a of 1038..
71..5.50.170
45,270,360
686,974,880
TO S E C U R E P U B L I C D E P O S I T S .
Bonds heldby Treasurer of the United States.
U n i t e d S tates loan of 1925
U n i t e d S t a t e s loan of 1908-1918
U n i t e d S t a t e s consols of 1930
U n i t e d S t a t e s P a n a m a of 1936
U n i t e d S t a t e s P a n a r p a of 1938
P h i l i p p i n e loans
' P o r t o Rico loans
District of Columbia
Territory of H a w a i i
Philippine Railway
•.
State, city, a n d railroad
'...
.
$4,394,700
5,288,000
34,552, SOO
5,607,000
1,649,000
5,670,000
594,000
1,480,000
719,000
190,000
18,099,071
$1,294,300
1,013,300
4,236,200
614,000
798,000
1,273,000
790,000
492,000
420,000
25,000
4,845,500
$1,379,000
2,729,000
13,150, IOO
3,472,000
1,042,000
2,061,000
405,000
1, IOO, 000
307,000
79,000
17,432,071
$4,310,000
4,172,300
25,638,900
2,809,000
1,405,000
4,882,000
979,000
872,000
832,000
136,000
5,512,500
78,303,571
4
3
2
2
2
4
4'
3.05
(o)
4
(a)
16,401,300
43,156,171
51,548,700
a Various.
138
REPORT ON T H E
FINANCES.
BONDS H E L D FOR NATIONAL B A N K S , CLOSE OF J U N E , 1909 AND 1910, AND CHANGES
DURING 1910—Continued.
TO SECURE PUBLIC DEPOSITS—Continued.
Transactions dnring 1910.
.Kind of bonds.
Rate,
Held June
30, 1909.
Withdrawn.
Deposited.
Held June
30, 1910.
Bonds held by the assistant treasurer of the
United States at New York, N . Y .
united States loan of 1925
United States consols of 1930
"
.
United States Panama of 1930.
United States Panama of 1938
Porto Rico loans
State, city, and railroad
P . ct.
4
2
2
2
4
(a)
$120,000
$370,000
50,000
10,000
10,000
$1,000
2,620,500
100,000
125, O G
O
2,620,500
100,000
125,000
2,940,500
346,000
3,060,500
226,000
125,000
125,000
81,244,071
IG, 872,300
40,341,671
$250,000
50,000
. 10,000
10,000
1,000
Bonds held by the assistant treasurer of the
United States at Boston, Mass.
State, city, and railroad
Aggregate for deposits
(a)
51 774,700
« Various.
WITHDRAWAL OF BONDS TO SECURE
CIRCULATION.
The act of March 4, 1907, limited the deposits of lawful money
for the retirement of national-bank circulation to $9,000,000 per
month. This limit was not reached in any month during the last
fiscal year, as may be seen in Table No. 62, page 233, of this report.
NATIONAL
BANKS
DESIGNATED AS DEPOSITARIES
STATES.
OF
THE
UNITED
The Secretary of the Treasury determines the number of such depositaries, the amount of public money required in each for the
transaction of the public business, fixes the amount of balances
they may hold, and requires the banks thus designated to give
satisfactory security, by the deposit of United States bonds and
otherwise, for the safe-keeping and prompt payment of the public
money deposited with them, and for the faithful performance of
their duties as financial agents of the Government. The regular
depositaries receive and disburse the piiblic moneys, and are required
to pay interest at the rate of 1 per cent per annum on the average
monthly amount of public deposits held in excess of the sum needed
for the transaction of the public business, while the special depositaries hold only the moneys transferred to them from the Treasur}^.
They pay interest at the same rate on the average monthly amount
of public deposits held.
The number of national-bank depositaries at the close of the fiscal
years 1909 and 1910 is given in the statement following:
Regular.
Depositaries J u n e 30,1909..
Depositaries J u n e 30,1910..
Special.
440
415
974
965
1,414
1,380
139
TEEASUEEE.
CLASSIFICATION OF DEPOSITARIES, BY STATES AND SECTIONS, AMOUNT OF PUBLIC
M O N E Y S T H E R E I N , AND AMOUNT OF B O N D S ON DEPOSIT J U N E 30,
1910.
Deposits in national b a n k s .
N u m b e r T o the credit of
of deposi- t h e Treasurer of
taries. the U n i t e d States
and United
States disbursing
officers.
S t a t e , Territory, etc.
11
19
11
51
5
17
-.
T o t a l S o u t h e r n States
Ohio
Indiana
Illinois
Michigan
Wisconsin
Minnesota
Iowa
Missouri
Total Western States
T o t a l Pacific States
T o t a l Islands
Aggregate U n i t e d States
13,803,313,85
7
15
33
44
13
12
19
8
22
7.35
.
5,963,975.01
16
16
33
11
4
3
6
2
25.10
6,297,391.25
I
I
16.00
2
857,724.37
a 52,209,585.73
8,823,800
2,238,000
1,935,000
4,188,500
1,021,000
1,082,000
1,213,000
707,000
1,314,000
26.43
13,698,500
267,000
571,000
1,120,000
671,000
771,000
282,000
1,442,000
351,000
686,000
658,728.41
198,995.96
1,380
11,923,000
1,565,000
480,200
518,000
212,000
673,000
538,000
321,000
87,000
319,000
1,319,000
105,000
1,920,600
766,000
2,475,890.67
1,324,147.51
1,321,460.95
236,697,82
447,678.26
52,000.00
190,056.44
249,459. 60
91
4,057,000
3,376,000
675,000
1,996,000
51,000
735,500
5,089,500
267,000.00
564,144. 54
1,079,659.00
664,223. 52
720,599. 20
270,952.23
1,420,342.07
300,027.80
677,026.65
173
....
$311,000
285,000
232,000
2,682,000
228,000
319,000
2,170,79L93
1,566,738.23
4,092,707,03
945,754.22
846,630. 64
2,034,961.56
646,499. 45
1,499,230.79
398
!
8,351,298.95
86
66
60
33
32
27
62
32
T o t a l Middle W e s t e r n States
Hawaii
P o r t o Rico
1,495,864,36
414,884.28
518,885.68
209,666.23
705,887,37
461,344,16
309,599.60
59,483. 82
313,347.91
1,126,801.40
105,064. 01
I,875,32L67
755,148. 46
291
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
N e w Mexico .
Oklahoma
Washington
Oregon
California
Idaho
Utah.
Nevada
Arizona
Alaska
13,096,405.05
42
19
21
10
27
15
17
11
12
49
6
45
17
Total E a s t e r n States
Virginia
W e s t Virginia
N o r t h Carolina
South Carolina..
Georgia
Florida.
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky.
Tennessee
4,457,299.80
711,118.93
2,468,403.72
51,000.00
1,081,666.95
4,326,975. 65
311
Total New E n g l a n d States
New York
N e w Jersey
Pennsylvania
.
Delaware
Maryland
D i s t r i c t of Columbia
3,839,417.25
96
21
142
2
38
12
.'
$261,172.70
307, 584.14
123,982. 23
2,007,945. 63
227,992. 00
310,740.55
114
Maine
New Hampshire...'.'.
Vermont
Massachusetts
Rhode Island...
Connecticut
P e r cent.
A m o u n t of
b o n d s pledged
to secure
p u b l i c deposits.
11.42
6.161,000
2,602,000
1,458,000
1,147,000
236,000
446,000
52,000
191,000
250,000
12.06
6,382,000
529,400
200,000
1.64
729,400
51,774,700
o The excess of public moneys in banks over the amount of bonds pledged therefor was caused by heavy
deposits of corporation taxes late on the last day of June, the transfer of which could not be effected by
the banks until the following day.
140
REPORT ON T H E FINANCES.
PUBLIC DEPOSITS IN NATIONAL BANKS.
The balance in banks to the credit of the general fund at the close
of the fiscal year 1909 was $60,427,525.69, against which the Secretary
of the Treasury had on June 30, 1909, issued a call for the retnrn to
the Treasury of $24,954,000. The regular depositaries were required
to pay the amount demanded of them in equal parts on July 15 arid
31, and the special depositaries the whole of the amount demanded
of them on or before July 15. By the end of July the amount in
banks to the credit of the general fund had been reduced to $43,555,422.59. Additional payments into the Treasury during the month
of August further reduced this amount and by the end of that month
it became $38,065,058.79. But slight variations were recorded in
this balance during the following months, the tendency being downward to the close of April, when the balance to the credit of the
general fund was $34,597,603.19.
To offset the drain upon the money in circulation in the District
of Columbia due to the heavy tax payments in May and June, which
are deposited directly in the Treasury, the Secretary of the Treasury
deemed it advisable to deposit $4,000,000 of public moneys in the
local national banks, divided among the several banks in proportion to
the total deposits therein; the deposits were made in four weekly installments beginning May 14 and were secured by bonds deposited with
the Treasurer of the United States. Of the amount so placed, the
depositaries were required to return to the Treasury 25 per cent on or
before July 15, 25 per cent on or before August 15, and 10 per cent
on or before the 15th of each following month, making the final
deposit on or before January 14, 1911. The department reserved
the right, however, to demand an earlier return of the money thus
deposited if for any reason it should be deemed advisable. The
balance in banks to the credit of the general fund at the end of May
was $38,775,328.10. During the month of June the corporation tax
levied by the new tariff law became payable and was collected in
large amounts by the collectors of internal revenue near the end of that
month. The collectors deposited their collections in banks and the
banks transferred the amounts received in excess of the fiixed balance
to Treasury offices daily, though on the last day of the month, owing
to the late hour at which the large amounts were deposited, transfers
from some of the depositary banks could not be effected until the
following day. At the close of the month of June the banks held
to the credit of the general fund $40,631,589.^58, and to the credit
of disbursing officers $11,577,996.15, making a total of $52,209,585.73.
UNAVAILABLE FUNDS.
The Treasurer of the United States has been relieved from further
accountability for the public moneys deposited with the States under
the act of June 23,1836. The Sixty-first Congress, by act of June 25,
1910, authorized and directed the proper accounting officers of the
Treasury Department to credit the general account of the Treasurer
of the United States with the amount of the'public moneys transferred
to and deposited with the States under the provisions of an act of
Congress approved June 23, 1836; provided, that the credit shall be
TREASURER.
141
made in such manner as to debit the respective States chargeable
therewith upon the personal account books of the department, until
otherwise directed by Congress. Also, the Treasurer was relieved
from further accountability for losses that occurred in subtreasury
offices, heretofore reported and carried in unavailable funds, as
follows:
Subtreasury United States:
'
Cliicago, 111., act of January 27, 1910
Boston, Mass., act of May 6, 1910
St. Louis, Mo,, actof June 25, 1910
-
$173, 000
3, 000
61,500
The foregoing measures cleared the general accaunt of the greater
part of the unavailable funds heretofore reported. However, there
is a number of items of such funds amounting to $1,483,299.25
which have passed from the control of the Treasurer without fault
or negligence on his part and from which he should be relieved.
In Senate Report No. 371—Forty-fourth Congress, first session—;
from the Finance Committee, submitted by the honorable chairman.
Senator Sherman, on page 3 reference is made to this question of
unavailable funds, as follows:
All money in the Treasury, wherever it may be deposited or placed for disbursement or custody, is charged to the Treasurer of the United States. I t is obvious,
however, that this money may be lost without fault on the part of the Treasurer, b y
robbery, accident, defalcation of a subordinate officer, misconduct of depositaries
having it in charge, or otherwise. Still, under the law, the Treasurer is responsible
and is charged with these sums. Such a deficit would, in the accounts of a firm, be
a simple plain entry in the profit and loss account b y crediting cash and debiting the
defaulter. But from the fact before stated that money can not be taken from the Treasury except by an appropriation, this course could not be pursued. An account called
''unavailables" was created, which was charged with the amounts, and the Treasurer
credited in his general account through the statement of an account b y the accounting
officers. This method of relieving the Treasurer is, your committee are informed, a
practice which has grown up, and is not authorized by law, and for some years past
has been prohibited b y the Comptroller, and has been discontinued. I t is plain that
the Treasurer should be relieved from this responsibility, and that Congress should in
some j^roper way provide b y law for the dropping of these unavailable funds, b y
authorizing a credit to the Treasurer and a corresponding charge against the defaulting
officer who fails to pay the money on demand.
An itemized statement of the unavailable funds will be found in
Table No. 22, on page 180 of this report.
MONETARY STOCK.
According to the revised estimates the total monetary stock of
the United States on June 30, 1910, was $3,419,591,483, of which
$1,636,043,478 was gold. As compared with that of twelve months
earlier there was a net increase of $13,263,129 in the total stock,
notwithstanding a reduction of $9,700,000 was made in the revised
estimate of the stock of subsidiary silver coin.
The aggregate monetary material, both metallic and paper, and
the distribution of each component between the Treasury and the
circulation, at the close of June, 1909 and 1910, are exhibited in the
following statement:
142
REPORT ON T H E FINANCES.
MONETARY STOCK.
[This statement represents the monetary stock of the United States, as shown by the revised statements
for June 30,1909 and 1910.]
Kind.
In Treasury
and mints.
I n circulation.
T o t a l stock.
J u n e SO, 1909.
Gold coin a n d bullion
Silver dollars
S u b s i d i a r y silver
81,042,704,301
492,073,819
• 27,076,748-
$1,642,041,999
564,061,719
159,408,546
1,561,854,868
803,657,396
2,365,512,264
6,562,749
11,585
24,381,268
Total metallic.
S599,337,698
71,987,900
132,331,798
340,118,267
4,203,415
665,538,806
346,681,016
4,215,000
689,920,074
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Total notes
30,955,602
1,009,860,488
1,040,816,090
1,592,810,470
1,813,517,884
3,406,328,354
37,746,420
6,696,676
. Aggregate metallic a n d n o t e s .
815,005,449
477,717,324
Gold certificates . .
Silver certificates
Aggregate
3,106,240,657
3,406,328,354
590,877,993
72,432,514
135,583,731
1,636,043,478
564,605,508
155,158,748
1,556,913,496
798,894,238
2,355,807,734
11,893,146
9,475
20,771,198
334,787,870
3,662,525
083,659,535
346,681,016
3,672,000
713,430,733
.June SO, 1910.
Gold coin a n d bullion
Silver dollars
S u b s i d i a r y silver
1,045,165,485
492,172,994
. 19,575,017
Total metallic
U n i t e d S t a t e s notes
T r e a s u r v notes of 1890. .
National-banknotes
Total notes. '
1,022,109,930
1,003,783,749
1,598,587,315
1,821,004,168
3,419,591,483
60,182,670
10,519,762
802,754,199
478,597,238
41,673,819,.
Aggregate metallic a n d notes
Gold certificates
Silver certificates
T o t a l certificates
.
70,702,432
Aggregate
1,281,351,437
3,102,355,605
RATIO O F GOLD TO T H E TOTAL
STOCK
OF
3,419,591,483
MONEY.
The share of gold in the general stock of money in the country and
its ratio thereto on July 1 in each year since 1900 may be observed
in the subjoined table:
R A T I O O F G O L D T O T O T A L S T O C K O P M O N E Y F R O M J U L Y 1,
1900.
[From the revised statements of the Treasury Department.]
Total stock of
money.
July 1, 1900
July 1, 1901
July 1, 1902
July I, 1903
July 1, 1904
July 1, 1905
July 1, 1900
July 1, 1907
July 1, 1908
• Tuly 1, 1909
July 1, 1910
Gold.
$2,339, 700,673
2,483, 147,292
2,563,266,658
2,684, 710,987
2,803,504,135
2,883, 109,864
3,069,976,591
3,115, 728,887
3,378, 764,020
3,400,328,354
3,419, 591,483
$1,034, 384,444
1,124,639,062
1,192,594,589
1,248,681,528
1,327,656,398
1,357,655,988
1,475,706,765
1,466,389,101
1,618, 133,492
1,642,041,999
1,630,043,478
Per cent.
44.21
45.29
46.52
46.51
47. 35
47. 0948.07
47. 06
47.89
48.20
47.85
143
TREASURER.
IVIONEY IN
CIRCULATION.
The money in circulation at the close of the last fiscal year amounted
to $3,102,355,605, a decrease of $3,885,052 as compared with that of
the preceding year. Increased circulation is recorded in the volume
of standard silver dollars, silver certificates, subsidiary silver coin,
and national-bank notes, while reductions appear in the volume of
gold coin and certificates, United States notes, and Treasury notes
of 1890. The circulation per capita was $34.33.
Comparison by kinds of money in circulation for the years since
1900 is presented in the table following:
M O N E Y IN CIRCULATION AT THE
END
OF EACH FISCAL Y E A R FROM
Money in circulation.
Fiscal year.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Gold coin
a n d gold certificates.
$811,539,491
876,827,124
938,793,298
994,5.19,298
1,111,472,675
1,136,274,338
1,185,216,924
1,161,769,670
1.396,221,429
1,414,343,147
1,393,632,192
$392,980,487
377,569,944
364,094,498
353,325,215
346,661,482
341,692,715
343,277,540
348.245,590
344;359,852
344,321,682
338,450,395
Silver
coin a n d
silver
certificates.
United
Nationals t a t e s notes
a n d T r e a s u r y b a n k notes.
notes.
$300,115,112
345,110,801
345,476,516
399,996,709
433,027,836
480,028,849
548,001,238
589,242,125
631,648,680
665,538,806
683,659,535
Total.
$550,515,908 $2,055,150,998
575,800,093 2,175,307,962
601,026,239 2,249,390,551
619,850,947 2,367,692,169
627,980,867 2,519,142,860
629,886,751 2,587,882,653
660,150,926 2,736,646,628
673,699,070 2,772,956,455
665,785,527 3,038,015,488
682,037,022 3', 106,240,657
086,613,483 3,102,355,605
Circulation
per
capita.
$26.94
27.98
28.43
29.42
30.77
31.08
32,32
32.22
34.72
34.93
34.33
1900.
Percentage of
gold coin
a n d certificates
to t o t a l
circulation.
39.48
40.30
41.73
42.00
44.12
43,90
43.30
41.90
45.95
45. 53
44.91
NOTE.—Currencj'-certificates, act of June 8, 1872, are included in the amount of United States notes
and Treasury notes during the years when they were in use. The final redemption of such certificates
was effected in March, 1901,
CIRCULATION
AND
POPULATION.
The annexed statement presents for eleven years the money in
circulation, the population, the circulation per capita, the per cent
of increase of population, a n d t h e per cent of increase of circulation
per capita per year:
I N C R E A S E IN POPULATION AND IN CIRCULATION P E R CAPITA.
Fiscal year.
1900
1901
1902
1903
1904
1905
1906
1907
1908.
1909
1910
Money in
circulation.
$2,055,150,998
2,175,307,962
2,249,390,551
2,367,692,169
2,519,142,860
2,587,882,653
2,736,646,628
2,772,956,455
3,038,015,488
3,106,240,657
3,102,355,605
Population.
Circulation
per capita.
76,295,220
77,754,000
79,117,000
80,487,000
81,867,000
83,260,000
84,662,000
86,074,000
87,496,000
88,926,000
90,363,000
$26.94
27.98
28.43
29.42
30.77
3L08
32.32
32.22
34.72
34.93
34.33
aDecrease.
P e r cent of Per cent of
increase
increase
of popula- of circulation per
tion per
c a p i t a per
year.
year.
2,5
L9
1.7
L7
L7
1.7
L7
1.7
L6
1.6
L6
5.3
3,8
1,5
3.5
4.5
I.O
3.9
a 0.3
7,8
0,6
ol,7
144
REPORT ON T H E FINANCES.
CONDITION OF THE UNITED STATES PAPER CURRENCY.
The large amount of worn currency redeemed and replaced by new
issues during the past fiscal year has improved the condition of the
paper money in circulation. However, there is a constant and widespread interest at large which advocates a cleaner and more sanitary
currency. The sentiment is a laudable one and should be attainable,
because the expenditure, as per tables of cost, page 24, is but a trifle
as compared with the beneficent results. The Government can well
afford to replace its paper issues when unfit for circulation. I t is
suggested that recommendation be made for increasing the facilities
for exchanging worn and defaced United States currency, and for
sharing with the public the expenses incident thereto.
UNITED STATES NOTES.
The amount of United States notes issued and redeemed during the
last fiscal year was $129,940,000, a decrease of $3,000,000 as compared
with that of 1909. The demand for notes of the denomination of
$5 was supplied largely in United States notes; the fives outstanding
were increased by $26,825,705 and the twenties by $3,247,720, while
all other denominations were decreased.
The amounts issued and redeemed, by denominations, during the
fiscal year 1910 are recorded in the annexed table:
Outstanding
June 30,
1909.
Denomination.
One dollar
'.
Two dollars
Five dollars.
Ten dollars.
Twenty dollars
Fiftydollars
.
One hundred dollars
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
......
. .
. . .
'.
...
Fiscal year I9I0.
Issued.
$1,849,947
1,395,611
87,964,625 $78,190,000
173,317,346
42,980,000
16,833,862 ' .7,440,000
2,610,575
6,925,050
1,330,000
7,360,000
49,414,000
Redeemed.
Outstanding
June 30,
1910.
$7,391
$1,842,556
7,334
1,388,277
51,364,295
114,790,330
66,502,900
149,794,446
4,192,280
20,081,582
2,307,625
302,950
1,428,850 .
6,826,200
943,000
6,417,000
5,191,000
44,223,000
10,000
10,000
Total...
Unknown, destroyed
347,681,016
1,000,000
129,940,000
129,940,000
347,681,016
1,000,000
Net......
346,681,016
129,940,000
129,940,000
346,681,016
TREASURY NOTES OF 1 8 9 0 .
The Treasury notes of 1890, under provisions of law, are disappearing. The total amount issued was $155,931,002, and the amount
outstanding at the close of the last fiscal year had been reduced to
$3,672,000, against which standard silver dollars in equal amount
are held in the trust funds for their redemption when presented.
The amount outstanding by denominations is stated in Table No. 33,
page 205, of this report.
GOLD CERTIFICATES.
The people of the United States, except on the Pacific coast, do not
care to handle large amounts of coin in their business transactions,
hence "they exercise the option offered under existing law of depositing
the coin in the Treasury and receiving in its stead the certificates
145
TREASURER.
which in recent years have become so popular in our circulation.
The gold certificates are restricted in denominations to $10 and above
but there appears to be good reason for the issue of a $5 gold certificate. The volume of gold certificates is greater than that of any other
kind of paper money in circulation, therefore large amounts of this
currency are sent to the Treasury for redemption with requests for a
part of the returns in denominations of $5. The total amount of gold
certificates outstanding on June 30, 1910, was $862,936,869, an
increase of $10,335,000 as compared with that of the preceding year.
The transactions in this currency during the fiscal year 1910 are
recorded, by denominations, in the table following:
Fiscal year 1910.
Issued.
Redeemed.
Outstanding
June 30,
1910.
$106,395,620
232,704,544
44,870,955
70,008,250
17,684,000
69,193,500
98,645,000
213,100,000
$88,868,000
66,640,000
12,200,000
19,600,000
950,000
8,700,000
86,220,000
$42,600,470
65,471,280
10,931,800
17,212,450
3,247,000
10,505,000
14,265,000
108,610,000
$152, 663,150
233, 873,264
46, 139,155
72, 395,80015, 387,000
388,500
• 67,
84, 380,000
190, 710,000
852,601,869
283,178,000
272,843,000
862,936,869
Outstanding
June 30,1909.
Denomination.
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars.
One thousand dollars.
Five thousand dollars
Ten thousand dollars.
Total
SILVER CERTIFICATES.
Silver certificates are issued largely in denominations of $1, $2, and
$5, and are in great demand. The volume that may be issued is
limited to the standard silver dollars available for the purpose. On
June 30, 1910, the total stock of such dollars was $564,605,508, of
which $72,432,514 were in circulation. The total amount of silver
certificates outstanding at the close of the fiscal year 1910 was
$489,117,000, an increase of $4,703,000 as compared with that of
1909.
The transactions in silver certificates, by denominations, during
the last fiscal year are shown in the following table:
Fiscal year 1910,
'.
..
Issued.
Redeemed.
Outstanding J u n e 30,
1910,
$124,141,161
56,280,236
246,010,212
33,821,821
10,909,390
12,501,560
686,620
28,000
35,000
•
One dollar
Two dollars.
. . .
F i v e dollars '.
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars..
One t h o u s a n d dollars
Total
Outstanding J u n e 30,
1909.
$151,907,600
56,020,000
136,270,000
7,800,000
$135,229,421
52,538,064
138,718,915
14,723,550
3,188,800
4,802,950
83,400
1,500
8,000
$140,819,340
59,762,172
243,561,297
26,898,271
7,720,590
9,698,610
603,220
26,500
27,000
484,414,000
Denomination.
353,997,600
349,294,600
489,117,000
2,000,000
CHANGES IN DENOMINATIONS.
The demand for small denominations of currerfcy, $5 and under,
was incessant throughout the past fiscal year. The r^esources of the
Treasury for the issue of such denominations were practically limited
to the process of redeniption and reissue in kind. For denominations
of $10 and above recourse was had to the gold coin against which
gold certificates were issued.
65872°—FI 1910
10
'
146
REPORT ON T H E FINANCES.
The total amount of United States paper currency of each denomination issued, redeemed,' and outstanding at the close of the fiscal
year 1910 is recorded in the subjoined table:
Fiscal year 1910.
Outstanding
June 30,1909.
Denomination.
Outstanding
June 30,1910.
Issued;
Redeemed.
$143,057,252
61,412,288
359,194,092
330,567,687
262,280,206
58,163,740
80,034,620
21,830,500
111,766,500
84,380,000
190,720,000
OnedoUar
Two dollars
Fivedollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars..
One thousand dollars..
Five thousand doilars.
Ten thousand dollars..
$126,401,931
57,953,434
334,935,227
314,972,627
261,175,506
60,003,340
77,857,320
25,072,000
118,785,500
98,645,000
213,110,000
$151,907,600
56,020,000
214,460.000
139,648,000
74,080,000
14,200,000
20,930,000
950,000
8,700,000
86,220,000
$135,252,279
52,561,146
190,201,135
124,052,940
72,975,300
16,039,600
18,752,700
4,191,500
15,719,000
14,265,000
108,610,000
Total
Unknown, destroyed..
1,688,911,885
1,000,000
767,115,600
752,620,600
1,703,406,885
1,000,000
1,687,911,885
767,115,600
752,620,600
1,702,406,885
Net.
P A P E R CURRENCY, BY DENOMINATIONS, OUTSTANDING JUNE 30, 1910.
The amount of each kind of paper currency outstanding, by
denominations, may be observed in the monthly statement for June,
1910:
Denomination.
U n i t e d States
notes.
Treasury
notes of
1890.
O n e dollar,
T w o dollars
F i v e dollars
T e n dollars . . . .
Twenty dollars...
Fiftydollars
One h u n d r e d d o l l a r s . . .
Five hundred dollars...
One t h o u s a n d d o l l a r s . . .
Five thousand dollars..
Ten thousand dollars...
Fractional parts
$1,842,555
1,388,278
114,790,330
149,794,446
20,081,582
2,307,625
6,826,200
6,417,000
44,223,000
Total
Unknown, destroyed...
347,681,016
1,000,000
3,672,000
346,681,016
3,672,000
Net...
$395,357
.261,838
842,465
1,211,820
604,770
• 18,350
209,400
128,000
10,000
Nationalb a n k notes.
Gold
certificates.
. Silver
certificates.
Total.
$343,610
$140,819,340
164,320
59,762,172
139,864,175
243,561,297
311,269,990 $152,663,150
26,898,271
211,974,920 233,873,264
7,720,590
16,033,000
46,139,155
9,698,610
36^383,000
72,395,800
603,220
15,387,000
90,000
26,500
67,388,500
23,000
27,000
84,380,000
190,710,000
47,410
716,193,425
a 2,762,692
862,936,869
713,430,733
862,936,869
$143,400,862
61,576,608
499,058,267
641,837,677
474,255,126
74,196,740
116,417,620
21,920,500
111,789,500
84,380,000
190,720,000
47 410
489,117,000
'
489,117,000
2,419,600,310
3,762,692
2,415,837,618
a Redeemed but not assorted by denomination.
RATIO OF SMALL DENOMINATIONS TO ALL PAPER CURRENCY.
The ratio of denoipinations of $10 and less to the total paper currency, by fiscal years since 1900, is given in the statement following:
Denominations of $10 and less.
Date.
July I, 1900
July 1,1901
July I, 1902
July 1, 1903,
July 1, 1904,
J u l y l , 1905.
July 1, 1906,
J u l y l , 1907,
J u l y l , 1908.
July I, 1909.
July I, 1910.
Total paper
currency.
$1,380,832,739
1,473,177,892
1,534, 962,196
1,654, 420,535
1,775,000,680
1,835,868,791
1,953,712,245
2,111,659,575
2,345, 130,802
2,375, 261,959
2,419; 600,310
One
dollar.
4.36
4.34
. 4,63
4.97
4,71
5,06
5.31
• 5.24
4.92
5,33
5,93
Two
dollars,
Five
dollars.
Ten
dollars.
2,74
2.74
2.77
2,83
2.66
2.73
2.51
2.69
2.46
2.44
2.54
21.20
20.72
21.34
21.10
20.26
19.83
19.67
19,48
20.79
19.84
20.62
26.72
27,11
27.44
27,87
26,94
27,43
27,43
25,84
26,00
25,77
26.53
m f i
^^O'^^'^55.02
54.91
56,18
56,77
54.58
55.06
54.93
53.26
54.19
53,40
55,62
147
TREASURER.
COST OF PAPER CURRENCY.
Inquiries frequently reach the department relating to the cost of
the paper currency issued directly by the Government. As a matter
of information it may be stated that the paper used is made by a
secret process under Treasury supervision by special contract,
renewed every year. The Bureau of Engraving and Printing, a
branch of the Department, designs, under the direction of the Secretary, engraves, and prints the notes and certificates complete. This
currency is delivered to the Treasurer in packages of four thousand
notes, the product of one thousand sheets of paper. Such a package
is taken as the unit from which to reckon the cost.
With allowance for every item of expense attending the making, the,
issue and redemption of this paper currency, it appears that the average cost is as follows:
Total average expense of 4,000 notes issued
Total average expense of 4,000 notes redeemed
$54, 04
8. 80
Aggregate average expense of issue and redemption
62. 84
From the foregoing it will be seen that the average cost for each
note is 1.571 cents. Calculations based upon these average expenses
of issue and redemption indicate results that will be very close to the
actual cost of maintenance of the paper currency, and such cost for
the fiscal years 1909 and 1910 may be studied from the details set
forth in the annexed table:
TOTAL E X P E N S E S
OF I S S U E AND
REDEMPTION.
Cost p e r
1,000
pieces.
N u m b e r of
pieces.
Fiscal year.
T o t a l cost.
1909,
Issued
liedeemed
202,746,192
194,507,569
. . .
$13.51 , $2,739,098.16
427,916.72
2,20'
Total
3,167,014.88
1910.
240,990,922
216,173,273
Issued
Redeemed..
13,51
2.20
Total.
3,255,787.36
475,581.20
3,731,368.56
U N I T E D STATES P A P E R
CURRENCY
OUTSTANDING
AND COST OF
MAINTENANCE.
Cost of m a i n t e n a n c e .
Fiscal year.
Amount
outstanding.
Amount.
1909
1910...
$1,687,911,885
1,702,406,885
$3,167,014.88
3,731,368.56
P e r cent.
0.187
.218
AVERAGE LIFE OF PAPER CURRENCY.
Experience shows that the average life of the paper currency is
shortened by the increasing activities of paper money in the business
transactions of the country This is especially noticeable in the
REPORT ON T H E FINANCES.
148
smaller denominations of silver certificates—$1, $2, and $5. The
average lifetime of each note, by kinds, may be seen in the statement
following:
A V E R A G E L I F E OF EACH N O T E AND CERTIFICATE IN
United
States
notes.
Denominations.
O n e dollar
Twodollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fiftydollars.
'One h u n d r e d dollars
F i v e h u n d r e d dollars .
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars. -.
•
T r e a s u r y Gold cernotes.
tificates.
.
All d e n o m i n a t i o n s
3.080
3.202
3.582
3,665
5.889
6.119
6.069
3.746
3.974
.326
.161
1.732
1.863
2.947
3.702
3.970
3,697
3.601
3.515
.
YEARS.
2,188
1.909
1.512
3.213
3.553
3,480
3.307
3.001
1,721
.1.540
2.605
Silver
certificates.
Nationalbank
notes.
1.152
1.329
1.930
3.392
3.904
3.016
2.767
1.880
1.414
4,383
4,499
3,172
3,024
3.357
4 116
3,903
5 218
3.343
1,430
3.228
The national-bank circulation owes its apparent advantage of longevity over other issues to the circumstance that the original plan of
redemption was found to be practically inefficient. Since the inauguration of the present system of redemptions in the office of the
Treasurer on July 1, 1874, these notes have been freely retired on
becoming unserviceable, with a consequent shortening of their life,
but the records of the earlier period still affect the calculation based
on the whole history of the issue.
PAPER CURRENCY PREPARED FOR ISSUE AND AMOUNT ISSUED.
The increasing volume of the paper currency issued directly by the
Government calls for the preparation of an adequate supply of the
respective kinds and denominations authorized by law in advance of
putting it into circulation. The pieces of currency issued during
the fiscal'year 1910 numbered 240,990,922 as against 235,210,400
prepared for issue.
Economy and prudence suggest the preparation of a greater volume
to be held in reserve in order to supply demands for increased issues
and to secure the best results in appearance and wear when put in
circulation.
The number of pieces and amount of paper currency prepared for
issue and the amount issued since 1902 is recorded in the annexed
table:
P a p e r c u r r e n c y issued.
P r e p a r e d for issue.
.Fiscal year.
1902
1903.--..
1904
1905
1906
1907
1908
1909
I9I0 .
N u m b e r of
notes a n d
certificates.
:
.
.-
136,721,000
148,446,000
159,463,000
155,389,000
157,425,000
178,180,000
197,012,000
206,898,000
235,210,400
Total value.
Average
value.
$591,580,000
617,936,000
762,820,000
510,524,000
602,172,000
679,480,000
858,944,000
637,320,000
809,579,600
$4.326
4.162
4.783
3.285
3.825
3.813
4.359
3.080
3.441
N u m b e r of
notes a n d
certificates.
Total value.
116,697,874
141,235,371
152,908,853
169,259,812
172,930,548
173,093,911
188,999,912
202,746,192
240,990,922
$466,908,000
551,038,000
650,026,000
637,540,000
629,826,000
698,273,000
804,326,000
764,510,000
767,115,600
•
Average
value.
$4.000
3.901
4.251
3.766
. 3,642
4.034
4.255
3.770
3.183
149
TREASURER.
The number of pieces of paper currency issued during the fiscal
year 1910 was 240,990,922, an increase of 38,244,730, or 18.8 per cent,
as compared with that of 1909.
The issues of United States paper currency, by months, for the
fiscal years 1909 and 1910 are stated in the table following:
UNITED STATES P A P E R CURRENCY I S S U E D DURING THE FISCAL Y E A R S 1909 AND
Fiscal year 1909.
1910.
Fiscal year 1910,
Total value.
Average
value of
notes
and certificates.
16,070,297
15,008,633
15,945,474
19,891,898
16,422,133
17,958,527
14,412,486
15,894,561
17,946,529
17,426,813
17,781,151
17,987,690
Month.
$71,534,000
64,198,000
50,964,000
69,804,000
54,988,000
61,418,000
80,920,000
63,486,000
57,802,000
59,546,000
57,948,000
71,902,000
$4. 451
4.277
3.196
3.509
3.348
3.419
5,614
3,994
3,220
3,416
3,258
3,997
18,102,851
20,761,885
19,613,100
20,793,283
19,784,557
21,384,704
19,731,498
17,102,704
20,326,052
21,638,688
20,730,583
21,021,017
$61,310,000
61,478,000
58,328,000
66,896,000
67,130,000
66,520,000
62,512,000
56,251,600
65,198,000
69,352,000
65,730,000
66,410,000
$3. 386
2.961
2.973
3.217
3.393
3.110
3.168
3.289
3.207.
3.205
3.170
3,159
202,746,192
764,510,000
3.770
240,990,922
767,115,600
3.183
7,2
04,9
18.8
0.3
Number of
notes and
certificates.
Jiily
August
September
October
November
December
January.
February
March
April
May
June
Total
Percent of increase over
preceding year
,
Number of
notes and
certificates.
Total value.
Average
value of
notes
and certificates.
a Decrease.
REDEMPTIONS OF PAPER CURRENCY.
The redemptions follow within a short period the issues of government currency. The demand for small denominations and the growing activities of the currency in circulation, by which its life of usefulness is shortened, increased both the number of pieces and amount
returned to the Treasury for redemption. During the fiscal year 1910
the number of pieces redeemed was 216,173,273, an increase of
21,665,704, or 11.1 per cent, over those of 1909.
The redemptions, by months, for the fiscal years 1909 and 1910 are
recorded in the subjoined table:
U N I T E D STATES P A P E R CURRENCY R E D E E M E D DURING THE FISCAL Y E A R S 1909
AND
1910.
Fiscal year 1909.
Month.
Number of
notes and
certificates.
Amount.
Fiscal year 1910.
Average
value of Number of
notes and notes ahd
certifi-. certificates.
cates.
Amount.
Average
value of
notes and
certificates.
,..-.
16,047,805
12,253,500
13,286,636
16,992,373
12,658,540
12,891,843
22,588,692
17,435,663
18,637,303
16,775,146
16,695,389
18,244,679
$62,934,000
41,734,000
46,123,000
60,509,000
43,707,000
63,610,000
84,758,000
64,119,000
74,545,000
58,542,000
57,853,000
63,961,000
$3,921
3.405
3.471
3.560
3.452
4,934
3.752
3,677
3.999
3.489
3.465
3.505
16,705,962
16,148,630
16,909,114
15,491,653
16,110,123
16,707,057
22,389,090
19,513,227
19,090,317
19,707,380
18,547,576
18,853,144
$59,329,000
53,591,000
56,367,000
53,678,000
58,048,000
75,790,000
73,234,000
63,521,600
66,784,000
70,643,000
60,919,000
60,716,000
$3.551
3.318
3.333
3.464
3.603
4.536
3.270
3,265
3.498
3,584
3.284
3.220
Total
".
Per cent of increase over
preceding year
194,507,569
722,395,000
3,713
216,173,273
752,620,600
3.481
12.9
8.6
11.1
4.18
July
August
September
October
November
December
January
February
March
April
May
June
150
REPORT ON T H E
FINANCES.
The method of handling the paper issues of the Government
redeemed at subtreasury offices has undergone a change during the
past year. I t has been found practicable, by experiments at t h e
subtreasury in New York, to cancel such redemptions at the office
where made, and to ship the canceled notes and certificates to the
Treasury by registered mail instead of by express as heretofore.
The change will result in a large saving of expense on account of
transportation. The subtreasury at New York is now operating
under the new method and the practice will be extended to other
subtreasuries in the near future.
STANDARD SILVER
DOLLARS.
At the close of the fiscal year 1910 there were 72,432,514 standard
silver dollars in actual circulation, while the Treasury held 492,172,994
of these coins, against which there were outstanding $489,117,000 in
silver certificates.
Many of these coins have been in use for more than thirty-two
years and have become unfit for circulation, as is evidenced by the
growing number of uncurrent pieces returned to the Treasury each
fiscal year.
This condition seems to call for some action whereby such coins
may be made available to meet current demands.
Silver dollars are shipped to depositors therefor, but at the expense
of the consignee. The transactions on this account, by months,
during the fiscal 3^ears 1909 and 1910 are compared in the table
following:
,
MOVEMENT OF STANDARD SILVER DOLLARS.
Month.
1909.
July
August
September.
October
November.
December,.
January..,.
February..
March
April. -.
May,,.
June...,-,.
$797,530
1,089,600
1,525,000
1,490,500
1,157,904
1,248,196
429,060
596,425
927,575
813,115
849,400
940,875
182,000
747,260
968,575
672,975
353,490
323,939
474,550
655,740
979,750
026,330
928,325
071,800
Total
11,865,180
14,384,734
EXCHANGE OF STANDARD SILVER DOLLARS.
During the fiseal year 1910 there was presented at, the Treasury
offices for exchange $21,386;,833 in staudai'd silver dollars, a decrease
of $2,101,771 as compared with like presentations in 1909. The
exchangee of these coins exceeded the shipments in 1908 by
$12,213,856, in 1909 by $11,623,424, and in 1910 by $7,002,099.
151
TREASURER.
The amounts presented at the Treasury offices for exchange during
the past three fiscal years were:
Fiscal year—
Office.
1908.
Washington
Baltimore
New York
Philadelphia
Boston
Cincinnati
Chicago
St. Louis....
New Orleans
San Francisco
Total
.
. .
. . .
1910.
$2,294,639
1,168,360
5,820,240
3,619,804
1,360,430
5,781,908
10,372,210
6,707,808
4,199,950
2,355,418
$771,113
842,650
3,595,592
2,594,168
755,770
2,97i;280
2,596,442
2,718,820
2,053,000
1,229,769
$469,441
857,210
3,395,695
2,961,326
705,585
2,501,500
5,333,864
2,527,630
I,698,510
936,072
43,680,767
'
1909,
23,488,604
21,386,833
SUBSIDIARY SILVER COIN.
The general stock of subsidiary silver coin at the close of the last
fiscal year was $155,158,748, a decrease of $4,249,798, as compared
with that of twelve months earlier. The Treasury holdings were
$19,575,017, a decrease of $7,501,731 as compared with that of 1909,
while the amount in actual circulation was $135,583,731, as against
$132,331,798 in 1909.
The amount shipped to depositors therefor, by months, during the
past three fiscal years may be observed in the statement following:
Fiscal year—
Month.
1909.
July
August....
September.
October...
NovemberDecember.
January...
February..
March
April
May;
June
$2,379, 912. 40
2,857, 516.70
3,462, 291.80
4,017, 353. 70
4,877, 095.19
3,350, 184.50
1,245, 583. 90
1,130, 280,40
1,604, 818,00
l,96i; 684, 60
1,969, 135.00
2,582, 974.80
$1,977,268.80
3,172,594. 60
4,460,330. 40
4,774,580.55
3,868, 170. 40
3,592,593.30
1,463,788.00
1,738,173,20
2,521,244. 30
2,564,080.80
2,794,279.20
3,131,464.20
Total
31,438,830,99
36,058,567.75
1910.
,982,761.45
,737,759.40
,866,250.30
,694,439.70
,532,163.00
,636,027. 40
,.711,884.20
,140,215.10
,924,952.20
,841,488.60
,915,057,20
,994,041.15
43,977,039.70
The distribution of subsidiary silver coin to depositors therefor will
be at the expense of the consignee for transportation charges, as Congress made no appropriation for such purpose for the ensuing fiscal
year.
REDEMPTION OF SUBSIDIARY SILVER COIN.
Subsidiary silver coins are redeemable in the lawful money of the
United States, and when so redeemed are again distributed either by
shipments to depositors therefor or paid over the counter at Treasury
offices in exchange for other kinds of money.
152
REPORT ON T H E FINANCES.
The amount of such coins redeemed at the treasury offices for the
fiscal years 1908, 1909, and 1910 is recorded in the statement following:
Fiscalyear—
Office.
^
Washington
Baltimore
New York
Philadelphia
Boston
Cincinnati
Chicago...
St.Louis.
New Orleans
SanFrancisco
.
1909.
1908.
I9I0.
$2,638,173
3,007,090
25,280,283
7,419,780
2,576,060
2,675,914
6,426,720
6,043,795
3,117,001
2 779 545
54,611,196 . 56,323,680
. .
.
$2,821,085
2,746,760
21,550,856
6,950,945
2,214,065
2,888,430
6,400,673
5,327,242
2,845,940
2,577,684
61,964,361
$3,514,216
2,964,100
18,126,042
6,235,714 .
2,450,010
3,301,565
7,113,740
5,218,591
2,737,265
2,949,953
.
'
Total
MINOR COIN.
Minor coins are not included in the stated stock of money in the
United States, though in general use in every section of the country.
A new design for the bronze one-cent piece was adopted in April,
1909. On the obverse the head of Lincoln appears, instead of the
Indian head which this piece had borne since 1864. The distribution
of this piece was commenced on August 2, 1909, and the demand for
it has been heavy and continuous.
An addition of $2,338,877.19 to the coinage was made during the last
fiscal year, of which $1,486,095.29 was in bronze cents and $852,781.90
in nickel 5-cent pieces.
The amount of each denomination of minor coin outstanding at the
close of the fiscal years 1909 and 1910 is given in the statement here:
Fiscal year 1910.
Outstanding
June 30,1909.
Coined.
Copper cents
Copper half cents...
Copper nickel cents.
Bronze 1-eent pieces
Bronze 2-cent pieces
Nickel 3-cent pieces.
Nickel 5-cent pieces.
Total
Remelted.
Outstanding
June 30, 1910.
$1,182,344.99
39,926,11
1,204,884.45
I6,746,22L84 $1,486,095.29
572,352,18
623,099. 66
28,446,585,85
852,781. 90
533,16
33,998.57
.166. 40
433. 41
219,695,60
$1,182,234.13
39,926, II
I,204,35L29
18,198,318.56
572,185, 78
622,666.25
29,079,672.15
48,815,415,1
254,938.00
50,899,354.27
2,338,877,19
$110. 86
MOVEMENT OF MINOR COIN.
The distribution of minor coin to depositors therefor during the
last fiscal year was $5,875,096.01, an increase of $2,090,192.89 as
compared with that of the preceding twelve months.
In future the distribution of minor coin to depositors therefor will
be a t t h e expense of the consignee for transportation, as Congress
made no appropriation for such purposes for the ensuing fiscal year.
153
TREASURER.
The shipments by offices for the fiscal years 1909 and 1910 are
reported in the statement following:
Fiscal year 1909.
Office.
Expense
of transportation.
Washington
Baltimore
Boston
Chicago
Cincinnati
New Orleans
New York
Philadelphia
. St. Louis
San Francisco
Mint, Philadelphia..
Mint, San Francisco.
Fiscal year 1910.
Amount.
$53,997.30
40,300.00
161,140.00
743,124.00
205,969,30
91,393,42
682,945.00
ai8,689.10
332,795,00
113,270,00
1,041,180,00
100,00
3,784,903.12
Total
$883.75
139.75
656.20
47,314.50
2,212.65
179,790.00
10,197,21
817,870.00
2,625,60
276 064. 60
1,192,19
95,380, 40
6,064.80 1,010,959,70
7,036,54
424,708,00
6,046.65
342,250,00
1,279.94
193,480,00
2,757. 68 2,387,739.06
40,953. 21 5,875,096.01
Expense
of transportation.
$3,968,95
682.65
3,090,70
11,184,52
3,148.15
1,358,10
10,942,50
13,828.20
5,746.80
2,659.70
21,969.16
3,400.00
78,628.43
REDEMPTION OF MINOR COIN.
Minor coins are redeemable in the lawful money of the United
States, and the amount presented to Treasury offices for such redemption for the fiscal years 1909 and 1910 is recorded in the subjoined statement:
Fiscal year1909.
Washington..
Baltimore
Boston
Chicago
Cincinnati
New Orleans.
New York
Philadelphia.,
San Francisco
St. Louis
$492,406
845,775
588,490
789,801
491,300
121,480
3,147,912
1,123,565
87,069
472,603
$466,292
973,445
637,410
670,703
431,545
130,955
3,817,258
1,354,246
72,686
486,614
Total...
8,160,401
9,041,154
MONEY FOR MOVING THE CROPS.
The different sections of the country appear to be less dependent
upon the money centers for cash to move the crops than in former
years, and as a consequence there are fewer requests for Treasury
cooperation in making transfers of funds from New York to other
subtreasury cities.
154
REPORT ON T H E FINANCES.
The following table gives the deposits in New York in all calendar
years, when any were made, and the resultant payments in the several
cities from 1906 to June 30, 1910:
Transaction.,
1906—Receipts...
P a i d b y t h e Treasurer a n d assistant
treasurers of t h e U n i t e d S t a t e s :
Washington
Cincinnati......
N e w Orleans
San Francisco
Chicago
-:
St. Louis
Total..
Gold coin a n d
certificates.
U n i t e d States Silver dollars
a n d certificates.
notes.
$315,000
$29,025,000
300,000
795,000
7,295,000
18,960,000
1,000,000
340,000
170,000
40,000
295,000
355,000
29,340,000
37,000
69,665,190
69,628,190
P a i d b y t h e Treasurer a n d assistant
treasurers of t h e U n i t e d States:
Washington
Baltimore
Boston
Chicago
Cincinnati
N e w Orleans
.
Philadelphia.
St. L o u i s . .
.
San Francisco
...
Denver mint
703,000
100,000
572,000
23,765,932
290,900
5,666,500
2,955,000
6,787,700
25,855,265
2,545,393
Total.
$29,340,000
300,000
850,000
7,680,000
18,960,000
1,000,000
550,000
$35,000
90,000
28,690,000
1907—Receipts
Total.
20,000
295,000
26,660
80,000
100,500
170,000
20,000
33,000
703,000
100,000
572,000
23,785,932
391,400
5,916 500
2,955,000
6,840,700
25,855,265
2,545,393
69,241,690
100,000
323,500
69,665,190
1908-rReceipts
4,025,779
108,000
100,000
4,233,779
P a i d b y t h e Treasurer a n d assistant
treasurers of t h e U n i t e d S t a t e s :
Washington
Chicago
".
Denver mint
N e w Orleans
Philadelphia
S a n Francisco
400,000
200,000
30;000
100,000
1,638,000
5,000
1,702,779
60,000
98,000
600,000
30,000
100,000
1,796,000
5,000
1,702,779
298,000
Total
..
3,475,779
460,000
1909—Receipts
19,172,000
5,000
P a i d b y t h e Treasurer a n d assistant
treasurers of t h e U n i t e d S t a t e s :
Washington
Chicago
Cincinnati
N e w Orleans . .
S a n Francisco
600,000
200,000
615,000
16,900,000
4,233,779
19,177,000
.
450,000
100,000
55,000
257,000
505,000
357,000
,
550,000
600,000
200,000
927,000
16,900,000
Total
18,315,000
1910—Receipts:
In January
I n April
In May
In June
650,000
.830,000
1,350,000
.
500,000
650,000
830,000
1,350,000
500,000
Total
3,330,000
3,330,000
200,000
30,000
200,000
30,000
P a i d b y t h e Treasurer a n d assistant
treasurers of t h e U n i t e d S t a t e s :
N e w Orleans—
In January
I n April
Total
19,177,000
230,000
230,000
S a n Francisco—
In January
I n April
I n May
In June
450,000
800,000
1,350,000
500,000
450,000
800,000
1,350,000
500,000
Total
3,100,000
"
3,100,000
155
TREASURER.
EXCHANGE FOR GOLD DECEIVED AT MINTS AND ASSAY OFFICES.
The facilities provided by the Treasury for marketing the new
product of gold bullion attracts to the mints and assay offices the
greater part of the output of our mines. Practically all imports of
gold are deposited in the Treasury.
The amount of exchange given the several mints and assay offices
to pay for local deposits of gold during the fiscal year 1910 is
recorded in the following statement:
Exchange on—
Mint or assay office.
Mint Carson
Denver.
.
San Francisco
Assay office, Boise
Charlotte
Dead wood
Helena
Seattle
New York. Philadelphia.
$700,000
2,000,000
14,000,000
650,000
85,000
50,000
7,500,000
24,985,000
Total
Chicago.
$8,000,000
$450,000
450,000
San Francisco.
$500,000
$1,200,000
10,000,000
14,000,000
650,000
85,000
150,000
450,000
7,500,000
500,000
34,035,000
100,000
8,IOO,000
Total.
I t is the duty of the Government to receive and coin all gold
bullion tendered under provisions of existing law. As there is no
profit accruing from the transactions it becomes necessary, in the
interest of good administration, to minimize the expense. Under
present regulations the western mints and assay offices are provided
with exchange on the subtreasury offices with which to pay for
local deposits of gold bullion. This manner of payment favors
the depositors of gold bullion at the expense of the Government.
I t is equivalent to paying the market price for their product at the
place of delivery and of transporting the proceeds free of expense to
the place where the money is wanted.
The gold bullion deposited at the assay offices is transferred to
mints at the expense or the Government for transportation. Under
the operations of the foregoing method the resources of the subtreasury
offices are being gradually transferred to the western mints, and
.ultimately these funds will have to be moved bodily back to the subtreasuries at great expense for transportation. I n fact, the Treasury
is now confronted with the necessity of supplying the subtreasury
in New York with gold coin to meet the demands against that office.
This situation would seem to require attention and is now having
our consideration.
SHIPMENTS OF CURRENCY FROM WASHINGTON.
The Treasury in Washington shipped currency during the last
fiscal year to the amount of $623,231,326, an increase of $51,850,779
as compared with that of the previous fiscal year. In 1909 the
number of packages sent was 96,172, while in 1910 they numbered
105,047, an increase of 8,875.
156
REPORT ON T H E FINANCES.
The transactions during the past two fiscal years are compared in
the statement following:
Fiscal year 1909,
Number of
packages.
Amount.
77,171 $569,100,000
19,001
2,280,547
Total by express
Total by registered mail
Aggregate
90,172
571,380,547
Fiscal year 1910.
Number of
packages.
Amount.
88,173
16,874
$620,608,308
2,623,018
105,047
623,231,326
RECOINAGE IN T H E FISCAL YEAR 1910.
The worn gold, silver, and minor coins withdrawn and transferred
to the mint for recoinage during the fiscal years 1909 and 1910 are
recorded in the statement following:
Fiscal year 1909.
Fiscal year 1910.
Denominations.
Face value.
Double eagles
Eagles
Half eagles
Quarter eagles
Three d o l l a r s , , . . . . .
One dollar
Total silver
Minor coins
Aggregate
Face value.
...
$5,436. 61 2,231,242.00
Loss.
$421,460.00
688,610.00
1,111,100,00
10,015,00
18,00
39,00
339,425.00
286,703,00
106. 40
345,744.70
1,000,80
146,85
".
$410,900.00
609,030.00
1,119,425.00
9,312.50
27.00
79,00
2,148,773,50
...
Total gold.
Half dollars......
Quarter dollars
Twenty-cent pieces
Dimes
Halfdimes.
Three-cent pieces
Loss,
283,826,00
239,104,00
110,20
287,337,30
826. 50
62.70
973,126.75
64,920.18
224,566,75
3,346,467,00
811,266.70
$4,747,42
55,615,73
225,053.00
70,356.79
3,267,561.70
60,363.15
REDEMPTIONS A N D E X C H A N G E S .
The moneys received in the redemption and exchange account
during the fiscal year 1910 amounted to $1,455,468,567 and were
equal to 46.9 per cent of the total money circulation of the country
at the close of the year.
15^7
TREASURER.
The kinds of money received and paid at Treasury offices on
account of redemptions and exchanges is stated in the table following:
RECEIPTS.
Kinds of money received by Treasury offices.
Account.
Gold coin
and
certificates.
United
NationalSilver coin States notes bank notes
and
and Treas- and minor
certificates. ury notes.
coin.
$931,190
408,607,780
$1,413,322
491,252,862
$1,232,494
$3,668,641
$91,635
125,847,181 429,760,744 1,455,468,567
409,538,970
492,666,184
127,079,675 429,852,379 1,459,137,208
600,040
1,568,187
2,648,362
Net receipts for which paynients
were made during the year.... 408,938,930
491,097,997
124,431,313
Receipts for currency outstanding
June 30,1909
Moneys received during year'.
Less outstanding receipts June 30,
1910
90,072
Total.
4,906,661
429,762,307 1,454,230,547
PAYMENTS.
Kinds of money paid by Treasury offices.
Account.
Transfer
checks.
Gold coin
and certificates.
Silver
coin and
certificates.
$377,708,324 $22,036,569
For gold coin and certificates.
For silver coin and certifi$845,631 94,585,416 339,094,142
cates
For United States notes and
11,704,893 20,601,555
Treasury notes
For national-bank notes and
minor coin
171,267,000 50,053,612 133,159,628
Total
United
States
notes.
Nationalbank
notes and
minor
coin.
$4,752,106 $4,441,931
Total.
$408,938,930
50,215,401
6,357,407
90,167,458
1,957,407
124,431,313
74,175,987
1,106,080
429,762,307
491,097,997
172,112,631 534,052,245 514,891,894 219,310,952 13,862,825 1,454,230,547
REDEMPTION
OF NATIONAL BANK
NOTES.
The national bank notes presented for redemption during the
fiscal year amounted to $502,498,994. This was $40,976,792 more
than was presented in the previous year. The amount received
from the banks in New York City was $234,110,000, or 47 per cent
of the total. The-average amount of notes outstanding during the
year was $707,919,327, of which 70.98 per cent was redeemed. Both
the redemptions and the outstanding were the largest in the history
of the national banking system. The inactivity in the business of
the country following the monetary disturbance in the latter part
of the calendar year 1907, appears to have been reflected in an
increase of $109,319,660, or 45.49 per cent, in the amount of bank
notes redeemed in the fiscal year 1908, following an increase of
$73,027,955, or 12.39 per cent, in the average amount of notes outstanding. The disparity between the per cent of increase in the
outstanding and the redemptions continued in the fiscal year 1909
when a further increase of only $18,192,753, or 2.75 per cent, in
circulation was accompanied by an increase of $111,887,861, or 32
per cent, in redemptions. The increase continued in 1910, but the
158
REPORT ON T H E FINANCES.
difference between the circulation and redemptions was less than in
the two previous years. This was probably due to a general improvement in business calling for a more active employment of the notes.
The figures are given below.
THE
A V E R A G E OUTSTANDING CIRCULATION, THE R E D E M P T I O N S , AND THE I N C R E A S E
IN EACH S I N C E 1907.
Average o u t s t a n d i n g .
Redemptions
Increase.
Increase.
Fiscal year.
Amount.
Amount
Amount
1907
1908
1909
1810
.
•
$589,445,599
662,473,554
680,666,307
707,919,327
$51,380,174
73,027,955
18,192.753
27,253;020
P e r cent.
Amount.
9.54 $240,314,681 a$55,978,204
12.39 349,634,341 109,319,660
2.75 461,522,202 111,887,861
4.00 502,498,994
40,976,792
P e r cent.
a 18 89
45.49
32 00
8 88
o Decrease.
The usual data as to the total number of notes redeemed and the
redemptions by denominations, the average denomination outstanding, and the average denomination redeemed for the fiscal year are
furnished in the following table. Comparison with similar data for
the previous year shows an increase of more than 10 per cent in the
redemptions of $5 notes.
1909,
Total number of notes redeemed
Redemptions by denominations— •
5's
lO's
20's
50's
lOO's
Average denomination outstanding
Average denomination redeemed
1910.
47,294,777
percent..
do....
do
do....
do
.•
52,706,869
75.00
69.34
64.00
54.40
51.17
$10.11
$9.71
85.53
70.39
63.28
59.10
59.10
$10.07
$9.48
In verifying the remittances of bank notes received for redemption
there were found differences in count amounting to $74,856 in favor of
the owners and $87,265 against the owners, and $910 in counterfeit
notes. The proceeds of the remittances, $499,599,883, were paid for
by the issue of $171,238,565 in the Treasurer's checks on the various
subtreasuries, by the shipment of $250,279,311 in new United States
currency and $239,196 in coin, and of credits in accounts to the
amount of $77,842,811. As compared with the previous fiscal year
the demand for checks in payment fell off from 48 per cent to 34 per
cent; and the demand for new United States currency, practically
all in small denominations, increased from 36 per cent to 50 per cent.
This increase is noticeable as it is the largest rate per cent of payments
made in currency since the fiscal year 1900.
The redeemed notes assorted by banks of issue and delivered
during the year amounted to $493,849,153. Of this sum $118,015,100,
or 23.90 per cent, was fit for circulation and was forwarded to the
respective banks of issue, and there was delivered to the Comptroller
of the Currency for reissue $343,545,282.50 and for retirement
TREASURER.
159
$32,288,770.50. The deposits received during the fiscal year on
retirement account amounted to $31,674,292.50. Of this sum
$17,332,312.50 was deposited by active banks under the provisions
of law for reducing circulation and $14,341,980 by insolvent and liquidating banks for retiring circulation or by active banks to replace
an old series of notes by a new series under the requirement or the
extension of charter, act of 1882. The deposits were $13,947,447
less than in the previous year, due to the reduction of deposits by
active banks for retiring circulation.
The table of percentage of outstanding national bank notes
redeemed and assorted (No. 78 in the appendix) shows that the
notes of banks in the New England States were redeemed in the fiscal
year 1909 at the rate of 86.63 per cent of the outstanding, and those of
banks in the Eastern States at the rate of 94.60 per cent, while the
rate of redemption for all other sections of States was less than 72.85
per cent, the general average for the whole country. The States of
Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama,
California, and Hawaii, taken singly, however, show redemptions in
excess of the general average.
Computing for all banks, twenty days is the average period required
to assort and deliver redeemed notes and to get the 5 per cent fund
reimbursed, and, consequently, whenever the daily rate of redemptions for twenty consecutive days equals or exceeds one-twentieth of
the 5 per cent fund that fund becomes exhausted. In the past three
years redemptions have increased to such an extent that the daily
rate of one-twentieth, the maximum rate the fund will stand, is
always largely exceeded in the month of-January and is generally
reached in the months of April, May, June, and July. The result is
that in January the Treasury has to advance a large sum for the
redemption of notes on the security of the notes, which advance is
repaid during February and March when a sharp decrease in the rate
of redemptions enables the agency to dispose of the January accumulations. The advances that have been required in the months of
April, May, June, and July, have been nominal in amount and of
short duration and probably do not require attention, but the situation in January is acute and calls for some remedy to prevent encroachment upon the general fund in the Treasury. As the notes are
obligations of the banks and not of the Treasury, it is suggested
that the banks be called on early in January of each year to make an
additional deposit of 5 per cent of their circulation to be used to meet
this unusual demand for redemption in that month. This additional
deposit should not be any hardship, for the reason that the particulap
time the deposit is needed is one of inactive money—the temporary
inactivity in money being the cause of the excessive redemptions.
Prompt remittances would materially assist in the maintenance of
the 5 per cent fund during periods of excessive redemptions, and the
Treasurer calls attention to the fact that an immediate remittance
on receipt of an advice of redemption is a requirement of the law.
The expenses incurred during the year amounting to $434,093.10,
exhibited in detail in table No. 75, have been assessed on the banks
in proportion to their notes redeemed at the rate of $0.88066 j)er
$1,000.
160
REPORT ON T H E
FINANCES.
gPtJIlIOUS ISSUES DETECTED IN I9l0.
There was a falling off in the nominal value of the counterfeit
coins and paper currency detected at the Treasury and subtreasury
offices during the past fiscal year.
Comparison, by items, for the past two fiscal years follows:
Kind.
1909.
1910.
. .
$5,735.00
99.00
80.00
971.00
2,787,00
191,00
2,711,81
529.88
174.45
350.00
.
,
, . . . , ,
Total
SPECIAL TRUST
$4,340.00
183.00
130.00
953.00
1,802.00
306,50
2,625,90
421.35
167,45
50,00
13,629.14
U n i t e d States notes
T r e a s u r y notes of 1890
Gold certiflcates... .
.
Silver certificates
National-bank notes
Gold coin
Silver coin
Minor coin .
Fractional c u r r e n c y .
Compound-interest notes
10,979.20
FUNDS;
The transactions in the special trusts held by the Treasurer during
the fiscal year 1910 were limited to two accounts, viz, Panama Railroad notes, and bonds for contractors of the District of Columbia.
The contract with the North American Commercial Company for
taking fur seals in Alaska terminated June 30, 1910. The United
States bonds held for that company at the close of the last fiscal
year under special provisions of law have since been surrendered to
the company.
The kinds of obligations and amounts held on each account are
recorded in the statement following:
SPECIAL T R U S T F U N D S IN THE CUSTODY OP THE T R E A S U R E R OF THE U N I T E D STATES
AT THE CLOSE OP THE FISCAL Y E A R
1910,
Fiscal year 1910.
A c c o u n t a n d k i n d s of b o n d s , etc.
Held June
30,1909.
Held June
30,1910.
Deposited,
S t a t e b o n d s belonging to t h e U n i t e d States:
Louisiana s t a t e b o n d s
$37,000,00
N o r t h Carolina s t a t e b o n d s
58,000.00
Tennessee s t a t e bonds
335,666.66§
U n i t e d S t a t e s b o n d s held u n d e r special provisions of law:
M a n h a t t a n Savings I n s t i t u t i o n
75,000.00
N o r t h A m e r i c a n Commercial Co
50,000,00
H e l d for t h e Secretary of W a r :
545,480.00
C a p t u r e d b o n d s of t h e State of Louisiana .
H e l d for t h e Secretary of t h e T r e a s u r y :
4,009,596.03
P a n a m a R a i l r o a d notes".
H e l d for t h e District of Columbia:
B o n d s for a c c o u n t of District c o n t r a c t o r s . .
151,480.00
84,285.00
Chesapeake a n d Ohio Canal bonds
20,134,72
B o a r a of a u d i t certificates
Total .
5,366,642.411
Withdrawn.
$37,000.00
58,000,00
335,666.66i
75,000,00
50,000.00
545,480.00
$175,451,00
$837,714.92
37,700.00
13,970,00
175,210.00
84,285.00
20 134.72"
213,151.00
851,684.92
4,728,108.49§
3,347,332.11
In explanation of the foregoing special trusts it may be said that
renewed interest is awakened in effecting a settlement with the States
of Louisiana, North Carolina, and Tennessee for the unpaid matured
bonds of those States belonging to the United States. I t is believed
that settlement of these unadjusted accounts will be reached in the
near future.
TREASURER.
161
The bonds held for the Manhattan Savings Institution are in trust
for that institution as indemnity for certain stolen bonds, as provided
by act of December 19, 1878 (20 Stat., 589), and will be held for such
time as, in the judgment of the Secretary of the Treasury, will secure
the Treasurer of the United States against loss.
Recommendation has been made to Congress for authority to return
to the State of Louisiana the bonds of that State captured at Shreveport by the Union forces during the war of the rebellion, now held as
a special deposit for the Secretary of War.
The special trust held for the Secretary of the Treasury is composed
of notes of the Panama Railroad Company drawing 4 per cent interest
payable to the United States, and is security for money advanced for
the equipment and construction of said railroad.
The special trust held for the District of Columbia represents, first,
the monej^s retained from contractors under provisions of law and
invested at the request and risk of said contractors; second, obligations that belong to the District of Columbia.
DISTRICT OF COLUMBIA.
The transactions of the Treasurer of the United States, ex-officio
commissioner of the sinking fund of the District of Columbia, pertaining to the affairs of the District, are fully set forth in a separate
report.
During the fiscal year 1910 the bonds of the funded debt retired
amounted to $622,050, resulting in the reduction of the annual
interest charge by $22,704.82.
From July 1, 1878, to the close of the fiscal year 1910 the bonded
debt was increased by the issue of 3.65 per cent bonds amounting
to $1,254,050, and decreased by the operation of the sinking funds
and otherwise $13,868,600, making a net reduction of $12,614,550,
and of the annual interest charge $669,297.47. The interest-bearing
bonds outstanding June 30, 1910, amounted to $9,492,100, bearing
3.65 per cent interest.
The retentions from. 47 District of Columbia contracts were canceled during the year by the return to the contractors of $13,970 in
bonds and $35,490 in cash.
At the close of the fiscal year 1910 the 10 per cent guaranty fund
amounted to $255,915.70 and was credited to 66 separate contracts,
and is represented by $175,210, in bonds purchased at the request
and risk of the contractors and $70,344.29 uninvested cash. "
The unsigned 3.65 per cent bonds of the District of Columbia,
amounting to $11,308,450, are in the vaults of the Register of the
Treasury.
The securities of the District of Columbia in the care and custody
of the Treasurer of the United States are enumerated on page 37 of ^
this report.
LEGISLATION RECOMMENDED.
It is suggested that recommendation to Congress be made in such
form as may be deemed advisable for legislation that will authorize
favorable action on the following subjects:
1. Gold certificates for $5.—There is necessity for increasing the
resources of the Treasury for the issue of small denominations of
currency. I t is believed that the issue of gold certificates for $5
65872°—FI 1910
11
162
REPORT ON TFIE FINANCES.
instead of restricting the issue as now to $10 and above will enable
the Department to respond to the demands for small denominations.
2. Gold certificates for gold bullion.—It appears desirable from an
economical point of view to issue gold certificates upon deposits of
gold bars, payable in gold coin, provided that the issue of such certificates does not exceed a reasonable per cent of the total volume
of gold certificates.
The issue of such gold certificates should result in the saving of an
appreciable part of the expenses attending coinage, and at the same
time would permit us to have available at exporting points gold bars
always ready for export.
3. Recoinage of uncurrent silver dollars.—The accumulation of
uncurrent silver dollars in the Treasury calls for some action whereby
such coins may be made available to meet current demands.
4. Relief to the Treasurer of the United. States for unavailable funds
now carried in his general account.—There still remain items of unavailable funds heretofore reported, Table No. 22, page 180, amounting to
$1,483,299.25, which have passed from the control of the Treasurer
without fault or negligence on his part and. from which he should be
relieved.
5. Increased facilities for exchanging worn and defaced UnitedStates
])aper currency for new.-—There is a constant and widespread interest
which advocates a cleaner and more sanitary currency. The sentiment is a laudable one and should be attainable, because the
expense is but a trifie as compared with the beneficent results.
The Government can well afford to replace its paper issues when
unfit for circulation.
6. Increase ofthe 5 "per cent bank-note redemption fund.—Experience
shows that the 5 per cent bank-note redemption fund is not adequate
for the purposes intended. In January, April, May, June, and July
the Treasury had to advance a large sum for the redemption of notes
on the security of the notes. As the notes are not obligations of the
Treasury the banks should be required to deposit a greater amount
to provide for current redemptions.
The present incumbent assumed the duties of the office of Treasurer
of the United States upon the termination of the administration of
Hon. Charles H. Treat, November 1, 1909.
The transfer involved an examination of all moneys, securities,
and other evidences of value which came into the direct charge of
the Treasurer, amounting to $1,260,134,946.88§, the maximum sum
so transferred in the history of our Government.
The examination was conducted in a very thorough manner, and
on its completion the Departraent had, from the report of the committee in charge, the most satisfactory assurance that the funds
transferred were absolutely correct. This result is perhaps the best
comment on the zeal and ability which the staff, chiefs of division,
and clerks of every grade in the office have exercised in the discharge
of their responsible duties, and by which they have merited the
confidence of the present Treasurer no less than that of his predecessors.
Respectfully submitted.
L E E MCCLUNG,
Treasurer of the United States.
Hon,
FRANKLIN MACVEAGH,
Seicretary ofthe Treasury,
APPENDIX TO REPORT OF THE TREASURER.
No.
1 . — R E C E I P T S AND D I S B U R S E M E N T S FOR THE FISCAL Y E A R 1910,
BY
Account-
Receipts.
Customs
I n t e r n a l revenue
Lands
Miscellaneous
District of C o l u m b i a . .
Commerce a n d L a b o r .
Interior, civil
T r e a s u r y proper
Diplomatic
Judiciary
War
Navy_
Interior, I n d i a n s
Interior, pensions
Agriculture
Interest
Postal deficiency
W a r , civil
N a v y , civil
$333,683,445.03
289,933,519.45
6,355,797.49
38,153,822.48
7,409,693.33
Total
P a n a m a Canal
.•
Public debtR e d e m p t i o n n a t i o n a l - b a n k notes.
Aggregate
No.
WARRANTS
AS SHOWN
ISSUED.
Disbursements.
Repayments
Counter
from unexcredits to
p e n d e d approappropriations.
priations.
$25,668,786.41
5,612,876.43
$546,152.51
119,906.09
11,650,496.50
19,221,703.68
21,989, 143.81
53,035,949.16
4,757,520. 34
9,606,588,53
155,911,705,93
123,173,716.68
18,504, 131.60
160,696: 415.88
16,976;021.88
21,342,978.83
8,495 612. 37
2,261 251.34
491.71
409,450.85
669,603.15
1,951,174.86
2,088,206.02
53,438.13
410,739.65
6,350,167.34
785,778.65
1,179,020.74
1,038,041.21
204,887,87
730.89
5,104,159, 34
15,979.33
11,109. 45
$24,473.76
2,976.49
214,379.33
71,159. 34
1,210,513.71
664,090.08
61,019.03
68,579.39
4,806,225.80
82,972,509.81
164,825.08
34,204.59
1,659.23
4,014.20
7,243.76
90,307,873,60
847,770,63
1,474,326,170.28
.
«
659,705,391.08
33,911,673.37
753,381,525.00
32,288,770.50
20,938,546.08
25,528.02
767,115,600,00
31,674,292.50
1,479,287,359.95
20,964,074.10
91,155,644.23
675,536,277.78
2 . — N E T ORDINARY R E C E I P T S AND D I S B U R S E M E N T S FOR EACH QUARTER OF THE
FISCAL Y E A R 1910, AS SHOWN BY WARRANTS I S S U E D .
Account.
First q u a r t e r .
Second
quarter.
Third quarter.
Fourth
quarter.
Total,
RECEIPTS.
Customs
Internalrevenue
Lands .
Miscellaneous r e v e n n e
Total...
$87,096,745.69 $81,338,929.42 $88,003,600.22 $77,244,169.70 $333,683,445,03
65,176,274.97 72,568,798.40 62,477,470.24 89,710,975.84 289,933,519,45
1,463,924.71
6,355,797,49
1,728,479.99
1,391,285.49
1,772,107,30
9,597,066.44
45,563,515,81
9,240,278.16 11,110,755.32 15,615,415.89
163,598,567.09 164,920,113.28 163,055,750.49 183,961,846.92
675,536,277,78
DISBURSEMENTS.
Civil a n d miscellaneous
War Department
Navy Department
Interior, I n d i a n s
Interior, pensions
I n t e r e s t on p u b l i c d e b t
Total
E x c e s s o ! receipts
E x c e s s of d i s b u r s e m e n t s
50,182,780.16
46,932,153.28
32,612,914.15
3,986,329.22
42,715,736.45
5,298,344.19
41,451,635.23
33,733,519,99
29,271,885,18
7,384,827.41
37,525,674,91
5,354,103.81
180,076,285.93
155,911,705.93
123,173,872.91
18,504,131.60
160,696,415.88
21,342,978,83
181,728,257.45 169,833,369.76 153,422,117.34 154,721,646.53
659,705,391,08
29,240,200. 39
15,830,886,70
47,459,323.85
41,829,659.70
31,011,859.10
3,739,080.55
40,384,652.88
5,408,793.68
40,982,546.69
33,416,372.96
30,277,214.48
3,393,894,42
40,070,351.64
5,281,737.15
9,633,633.15
18,129,690.36
4,913,256,48
•
163
164
No.
REPORT ON T H E FINANCES.
3 . — R E C E I P T S AND DISBURSEMENTS FOR SERVICE oiP THE POST-OFFICE D E P A R T MENT FOR THE FISCAL Y E A R 1910.
Fiscal year 1910.
Balance June
30,1909.
Office.
Balance June
30,1910.
Receipts.
Washington
Baltimore
Boston
Chicago
Cincinnati
New Orleans
New York
Philadelphia
San Francisco
St. Louis
National bank depositaries.
Unavailable items
Disbursements.
$13,786.01 [a$20,491,944.93 $20,455,400.19
2,107,305.23
2,077,280.01
53,588.15
5,504,327.15
5,364,597.52
32,564.43
18,249,277,44
18,058, 106,47
200,704.06
4.328,856,47
4,247,772.86
70,410.39
3,064,237.14
3,011^ 871,37
97,269. 62
33,051,338,77
32,006, 283,88
425,549.14
7,367,385,17
7,202,009.74
33,776.44
5,031,678.30*
5,000,952.64
390,539.01
7,442,205,97
7,475,007.71
278,553.18
. 29,257,25
20, 006,13
5,356.50
37,277.06
Total.
1,639,373.99
104,919,288.52
23,370,000.00
81,549,288.52
39,983,365,89
40,070,518.64
39,775,015.43
39,995,399.43
Net receipts and disbursements
by Treasury offices
Receipts and disbursements by postmasters for quarter ended—
Sept. 30,1909
Dec, 31,1909
Mar, 31,1910
June30,1910&
106,667,813.82
23,370,000.00
83,297,813,82
1,639,373,99
Total
Less transfers between offices.
39,983,365.89
40,070,518.64
39,775,015.43
39,995,399.43
243,122,113,21
241,373,587,91
$50,330.75
83,613.37
172,294.06
391,875.03 •
151,494,00
149,635,39
1,470,604.03
199,151.87
421,264.167
245,751.44
14,607.62
37,277.06
3,387,899.29
3,387,899.29
a Including deficiency appropriation of $8,495,612.37.
b Statement not completed in time for report.
No.
4b.—POST-OFFICE
DEPARTMENT WARRANTS I S S U E D , P A I D , AND OUTSTANDING
FOR THE F I S C A L Y E A R 1910,
Fiscal year 1910,
W a r r a n t s d r a w n on—
Treasurer U n i t e d States,
Washington
A s s i s t a n t Treasurer U n i t e d
States:
Baltimore
Boston
Chicago
Cincinnati
NewOrleans
New York
Philadelphia... .
San Francisco
St. L o u i s . .
Total
Number
of
warrants
issued.
Warrants
outstanding
J u n e 30, 1909.
3,589
Warrants
outstanding
J u n e 30,. 1910,
A m o u n t of
warrants
issued.
A m o u n t of
warrants paid.
$60,000.41
$8,185,242.10
$8,225,238,51
$20,004,00
32,985
18,764
53,945
34,082
31,881
70,632
27,829
27,289
,42,589
34,705.40
23,729.52
196,304.38
43,590.55
78,602.22
203,994.01
29,027.15
354,702.09
304,915.99
2,044,145.26
2,641,340,86
15,557,838,05
3,538,773.09
2,988,073.69
30,053,587.71
6,578,692 83
2,625,558.27
7,182,282,56
2,052,264.85
2,649,610.77
15,607,658.50
3,547,766,86
3,001,856.62
29,881,366.23
6,592,047.24
2,725,952.64
7,315,520,17
26,585,81
15,459, 61
146,483,93
34,596,78
64,819,29
376,215. 49
15,672.74
254,307.72
171,678.38
343,585
1,329,571,72
81,395,534,42
81,599,282.39
1,125,823,75
165
TREASURER..
N o . 5 . —RECEIPTS
AT THE
AND D I S B U R S E M E N T S OF EACH K I N D OF M O N E Y ON ALL ACCOUNTS
T R E A S U R Y IN WASHINGTON FOR THE FISCAL Y E A R 1910.
Gold coin.
Standard
silverdollars.
Subsidiary
silver coin.
$169,618
Account.
$19,966
$27
$650
101,307
89
61
51,619
184,965
77,703
United
Treasury
States notes. notes.
RECEIPTS.
Customs.
Internal revenue
Miscellaneous..
. .
D i s b u r s i n g oliQcers
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates..
R e d e m p t i o n a n d exchange
Issues
04,088
132,237,467
$466,000
13,810
1,950
177,887
2,638,173
30,374,588
129,940,000
77,000
411,593
489,407
2,791,276
292,831,133
543,000
20,013
872
29,809
Total
469,441
385,330
116
208,911
105
1,556,730
178,316
13,267,144
6,435
45,224,451
DISBURSEMENTS,
W a r r a n t s a n d checks
Disbursing officers..
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
United Statesnotes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
R e d e m p t i o n a n d destruction
F i v e p e r cent f u n d . . .
Total
1,184
......
28,938
102
6,168
1,639,713
160
5
2,520
1,724,801
Account.
Nationalb a n k notes.
390,013
85,224
140
I
170,540
106,932
1,093,350
15,662
I
3,237,712
1,980
1,446,676
16,721,116
181
71,872,130
2,547,735
10,409,634
348,900
129,940,000
543,000
291,964,698
•543,000
Gold certificates.
Silver certificates.
$175,125
$8
$365,394
$318,100
76,000
1,547,034
367,231
36,282
243,848,640
428,730
3,040,486
889,761
5,087
20
19
11,739
2,156,493
521,043
36,362
722,849,871
428,730
3,074,296
891,711
Minor coin.
Total.
RECEIPTS,
Customs
Internal revenue
Miscellaneous
.
D i s b u r s i n g officers.
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates
R e d e m p t i o n a n d exchange
Issues
Total
$83,032,386
263,137,932
20,000
416,507,469
27,578,155
196,958,000
110,642,848
353,997,600
466,292
588,991,853
680,895,eoo
499,599,855
488,088,187
714,973,737
483,165
2,000,211,353
5,537,890
42,354,702
8,093,365
93,281,020
362,403
12,865,418
125,291
106,323,641
44
25,380
43
232,003
6,078,769
68,742,440
8,225,239
247,032,984
13,070
47,218
3,011
48,307,180
12,399,840
2,844,375
17,180
272,843,000
29,210
273,530
336,885
9,667,523
76,819
125,036,624
9,583,632
97,370,803
72,476
349,294,600
177,886
276,681
1,973,702
28,995,962
77,000
245,332,495
27,578,156
• 110,642,848
438,557
784,909,369
462,200,709
488,277,567
711,418,855
DISBURSEMENTS.
W a r r a n t s a n d checks
Disbursing officers
Post-Office D e p a r t m e n t . ' .
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
R e d e m p t i o n a n d destruction
F i v e p e r cent fund
Total
^190,140
2,395,805
32,288,769
462,200,709
494,489,478
^
11,938
3,456
311,366
•2,214
636,673
1,992,682,797
166
No.
REPORT ON T H E FINANCES.
6 . — R E C E I P T S AND D I S B U R S E M E N T S OF EACH K I N D OF M O N E Y ON ALL ACCOUNTS
AT THE SUBTREASURY IN BALTIMORE FOR THE FISCAL Y E A R
1910.
Gold coin.
Account.
Subsidiary
Standard
silver dollars. silver coin.
United
Treasury
States notes. notes.
RECEIPTS.
Customs
Internal revenue
Miscellaneous .
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
•
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin . .
G old certificates..
R e d e m p t i o n a n d exchange ..
Issues
$795
55
1,579
828
176,042
$40
1,658,704
$703
18
180
63
35
50,878
$1,163,780
7,260
41,750
433,320
171,570
6,539,271
$70
9
• 5,154
142,550
21,625
. . .
1,770,000
1,300,523
Total
.
857,210
3,007,090
3,345,641
2,616
3,249,822
2,515,954
3,058,967
11,866,767
7,849
79,900
388
15,127
394
827,105
361,740
4,031;260
485,570
3,301,210
8,000
DISBURSEMENTS.
W a r r a n t s a n d checks
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
Subsidiary silver coin
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
^..
67,679
25,300
.
20
1,591,500
381,000^
1,611,390
1,096,291
2,068
2,363,441
3,278,322
11,941,044
Nationalb a n k notes.
Gold certfficates.
Silver certfficates.
Minor coin.
$7,500
11,740
69,590
1,580,210
810,625
5,120,325
400
504,220
37,245
$3,028,780
5,170
61,860
987,190
217,470
18,366,390
1,395,185
16,418,010
7,470,000
8,963,143
973,445
9,537,040
Account.
2,283,541
2,665,364
Total
980,880
5
423,770
11
1,059,755
813,695
138,057
46,627,230
17,520,306
1,057,843
95,441,778
69,700
1,182,055
701,900
7,553,000.
1,387,980
9,974,325
653,325
14,869,180
210,461
2,516,474
211,041
7,391,625
38
1,307
35
66,336
2,030,307
17,720,548
2,052.265
34,164; 035
2,648,420
160,260
1,352,480
15,781
692,330
22,780
2, .315
15
2
3,070,523
852,590
3,007,410
3,345,641
2,616
1,395,185
16,418,010
8,963,143
972,565
5,000
1,000
664,515
8,000
Total.
RECEIPTS.
Customs
Internal revenue
Miscellaneous.
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates
R e d e m p t i o n a n d exchange
Issues
Total
65,070
7,290
$87,087
17,916
33,912
293,537
123,074
7,877,192
80,400
41,410
2,635.
$42
2
23
8
6
84,317
$4,288,797
42,106
207,379
3,295.907
1,323,608
39,878,273
80,800
'753,250
68,795
1,770,000
36,262,863
7,470,000
DISBURSEMENTS.
W a r r a n t s a n d checks
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
Total
20,760
6,000
10,500
10,520
14,289,190
283,370
6,100
6,413,290
14,160
9,554,435
45,618,530
17,496,372
231,765
522
329,430
323,145
116,750
1,069,330
93 994 838
167
TEEASUREB.
N o . 7 . — R E C E I P T S AND DISBURSEMENTS OF EACH K I N D OP M O N E Y ON ALL ACCOUNTS
AT THE SUBTREASURY I N N E W Y O R K FOR THE FISCAL Y E A R 1910.
Gold coin.
Account.
Subsidiary
Standard
United
Treasury
silver dollars. silver coin. States notes. notes.
RECEIPTS.
Customs
Internal revenue
Miscellaneous...
Disbursing officers
Post-OfficeDepartment
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin. .
Gold certificates
Redemption and exchange
Issues
•.
Special customs deposit
Gold bars
$880,920
.
.
. . .
11,420
17,050
310,600
$51,719
$1,208
16,000
4,250
10,500
41
68,683
20,994
35,854
566
19,395,243
3,395,695
$37,810,280
4
1,598,559
9,880,129
5,301,485
75,724,222
25,279,432
50,762,046
34
. .
1,307,294
20,615,233
3,478,664
25,406,246
182,470,822
651,325
7,175
2,352
164,255
301,640
9,642,222
45,337,143
62,760
88,350
11,077,944
85,000
Total. . .
$79,428
56,829
29,974
142,188
DISBURSEMENTS.
Warrants and checks
Disbursing officers
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank note§
Gold certificates
Silver certfficates
Minor coin
Clearing-house balances
5
.,
518,900
98,499,565
300
145,554
425
94,600
6,936,100
41,930,920
245,900
1,615,100
819,900
7,150,135
740,100
24,298,000
131
59,748,116
182,480,473
99,755,095
25,455,620
Gold certificates. •
Silver certificates.
Minor
coin.
$178,089,520
Account.
2,264,415
Nationalbank notes.
Total
$3,169,699
190
628,551
1,908,999
1,143,598
41,170,425
540,300
2,978,744
734,137
$129 $220 003 475
194
107
7,625,928
105
37,279,706
73
15,784,700
110,218 571,207,912
540,300
11,787,793
1,988,951
145,554
Total.
RECEIPTS. •
Customs
Internal revenue
Miscellaneous .
.. .
Disbursing officers
Post-office Department
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin
Gold certificates
Redemption and exchange
Issues
Special customs deposit
GK)ld bars
Total
. -
$1,000
115,000
43,000
8,541,118
5,397,670
25,279,370
9,254,250
445,225,547
2,000
8,749,720
1,224,840
982,730
197,774,202
19,070,000
408,245,540
23,687,715
9,684,848 1,321,998,374
189,317,808 3,817,255
135,028
107
490,787,171
19,070,000
409,688,003
23,687,715
241,727,479 3,927,994 1,809,451,848
DISBURSEMENTS.
Warrants and cliecks
Disbursing officers
Post-office Department
Transfers
.
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Gold certificates
Silver certificates
Minor coin
Clearing-house balances .
Total....
450
4,207,288
5,470,210
798,050
849,611,882
54,470
114,139,020
19,399,723
• 471,000
59,920
506,578
105,209,647 1,304,760
30
3,396,921
25,267,294
62,760
90,245,690
59,793,500
188,907,180
106
29,208
102,589,785
3,813,915
365
797,035
162,830
1,657,172
278,564
443
12
949,228
866,255,655
54-, 470
281,635,196
19,400,183
3,396,921
25,267,294
50,748,555
62,760
982,730
197,798,462
189,315,349
3,814,358
248,655,804
9,677,948 1,323,420,515 240,907,215 4,230,130 1,888,336,965
168
No.
REPORT ON T H E EINANCES.
8 . — R E C E I P T S AND D I S B U R S E M E N T S OF EACH K I N D OF M O N E Y ON ALL ACCOUNTS
AT THE SUBTREASURY IN PHILADELPHIA FOR THE FISCAL Y E A R 1910.
Gold coin.
Account.
Subsidiary
United
Treasury
Standard
silver dollars. silver coin. States notes. -notes.
RECEIPTS.
Customs
Internal revenue
Miscellaneous
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
Subsidiary silver c o i n .
Minor coin
Gold certificates
R e d e m p t i o n a n d exchange
Issues . -
$220,810
$4,578
$546
$4,067,155
6,768
126,940
83,355
1,998,748
". .
192
16,960
10,351
6
590
9,236
9,438
222,562
135,769
546,493
639,894
8,235,784
1,105
5,731
• 2,472
. 2,061
2
2
442,536
81,175
340
114
-
$37
46,690
6,975
6,370,000
1,301,740
7,419,780
8,513,755
8,137
10,162,026
Total
2,961,326
2,993,413
7,662,156
22,662,561
19,997
1,008,000
269
128,840
319
3,373,783
600,950
4,171,610
331,190
9,923,330
20,000
3,765
30,091
300
670,272
822
1,209,815
1.999,930
' 205,920
118
15
DISBURSEMENTS.
W a r r a n t s a n d checks
D i s b u r s i n g officers
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver d o l l a r s . . .
S u b s i d i a r y silver coin
United States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes .
Gold certificates
Silver certificates
Minor coin
Total
•
517,210
85
10,000
281,000
1,075,500
90
172
1,807,900
75,000
5,000
'.
Account.
150,203
1,020,553
2,034,349
4,942,541
3,042,521
Nationalb a n k notes.
Gold certificates.
7,624,244
555,350
5,818,391
2,383
1,100,000
103,675
22,606,894
Silver cer- Minorcoin,
tificates.
20,000
Total.
RECEIPTS.
Total
$15,919,840
$749,944
$42
$20,962,952
$77,271
1,947,909
1,089,640
4,400,955
503,610
1,395,367
2,535,890
53,318,857
51
40
95
16,742
537,210
135,165
1,479,603
329,473
78,515
1,509,721
1,537,976
35,433,882
1,023,700
685,177
142,424
1,400,815
82,176,500
47,120,000
30,133,503
1,354,246
803,871
5,558,397
5,909,111
103,629,597
1,023,700
3,191,558
695,328
6,370,000
135,269,802
47,120,000
9,588,965
Customs
Internal revenue
Miscellaneous
D i s b u r s i n g officers
Post-Office D e p a r t m e n t
Transfers....
S t a n d a r d silver dollars
S u b s i d i a r y silver c o i n . . . .
Minorcoin
G old certificates
R e d e m p t i o n a n d exchange
Issues
204,779,140
71,294,842
1,371,216
330,534,316
36,600
2,987,871
161,630
6,368,000
2,356,830
28,075,311
5,419,569
76,165,900
718,134
8,351,300
679,321
30,015,172
30
9,198
18
832,317
3,863,016
44,744,683
6,592,047
128,223,712
78,899
7,666,390
28,000
4,014,960
848,170
(^
4,400
25
2,884,988
2,501,131
3,000
10,500
76,810,000
2,213,200
679,900
60, m
25,517,010
556,750
9,643,500
204,282,630
71,286,831
DISBURSEMENTS.
Warrants and checks..
D i s b u r s i n g officers
Post-Office D e p a r t m e n t .
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
U n i t e d S t a t e s notes
T r e a s u r y notes of 1890 .
N a t i o n a l - b a n k notes
Gold certificates..
Silver certificates
Minor coin
Total
7,671,740
2,953,326
7,431,640
102,422
8,517,755
442
8,137
191.000
1,400,815
398; 670 • 82,176,500
114,424
30,159,903
50
1,355,993
1,460
75
1,650,106
325,099,267
160
TItEAStrE.EB.
No.
9 . — R E C E I P T S AND DISBURSEMENTS OF EACH K I N D OF MONEY ON ALL
ACCOUNTS AT THE SUBTREASURY IN BOSTON FOR THE FISCAL Y E A R 1910,
Gold coin.
Account.
RECEIPTS.
Cnstoms
Internal revenue
Miscellaneous ..
Disbursing officers
Post-Office Department
Transfers.
Standard silver dollars
Subsidiary silver coin ..
Minor coin
Redemption and exchange
Special customs deposit
. .
Subsidiary
Standard
Treasury
United
silverdollars. silver coin. States notes. notes.
$3,154
$4,648
345
1,000
3,225
312,168
38
4
15,772
1,601,054
705,585
2,576,060
2,058
1,991,097
Total
$73,305
726,047
2,666,111 1 24,774,687
21,141
438,000
125
20,699
143
1,688,477
21,150
1,521
213
120
82,985
$3,333,791
$113
132,881
913,102
984,545
9,269,353
14
332
1,000
17,372
1,000
61,400
1,000
10,078,615
1,310
DISBURSEMENTS.
Warrants and checks . . .
Disbursing officers
Post-Office Department.
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890 . .
National-bank notes
Gold certificates.
Silver certificates
Minor coin
Total
.
15,000
93,150
43,112
'. i.
.
Account,
• 10,610'
16,520
139,106
192,412
906
156,782
376,870
112,996
1,173,912
577,106
2,560,020
Nationalbank notes.
Gold certificates.
84,000
4,775,400
1,000
.12,110,710
1,006,130
19,580
7,356,600
12,000
45,000
500
24,404,790
Silver cer- Minor coin.
tfficates.
21,150
Total.
RECEIPTS.
$204 $30,890,796
Total
$26,831,320
$644,261
$44,651
339,290
953,650
700,212
305,960
3,269,340
• 2,804,460
47,312,370
i, 273,'766
. 206,735
245,742
• 241,590
150
5,588,380
24,524,100
100,383
508,440
410,916
12,917,096
433,100
58,220
3,600
21,540,959
10,192
037,410
356
585,859
5,031.741
5,157,936
70,647,099
434,100
1,634,910
211,485
42,975,115
24,536,706
3,763,980
Customs
Internal revenue .
. . .
Miscellaneous
Disbm'sing officers
Post-Office Department
Transfers
"
Standard silver dollars
Subsidiary silver coin ..
Minorcoin
Redemption and exchange .
Special customs deposit
110,877,670
36,627,167
657,847
182,105,747
.258,560
3,824,290
58,990,222
2,626,678
25,407,540
23,206
712,572
21,777
24,353,779
12
2,008
13
273,209
3,946,633
64,759,461
2,649,611
66,903,815
1,499,900
30,000
707,425
880
1,500
17,430
1,658,550
2,409,100
82,530
3,908,200
10,393,500
552,880
3,566
10,798,200
1,840
1,601,052
707,425
2,574,000
10,060,615
1,310
245,742
5,525.380
21,571,359
637,750
3,753,880
111, 270,860
36,654,679
66
24
16
19,771
DISBURSEMENTS,
Warrants and checks
Disbursing officers
Post-Office Department
Transfers
.. ..
Redemption and exchange:
Gold coin .
. . .
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
.
. . .
Gold certfficates
Silver certificates
Minor coin
•
Total
2,517,800
894,990
84,483
404
88,960
218,680
82,557
767,756
181,184,153
170
REPORT OH T H E FINANCES.
N o . 1 0 . — R E C E I P T S AND DISBURSEMENTS OF EACH K I N D OF M O N E Y ON ALL
ACCOUNTS AT THE SUBTREASURY IN CINCINNATI FOR THE FISCAL Y E A R 1910.
Gold coin.
Account,
Standard
silverdollars.
Subsidiary
Treasury
United
silver coin. States notes. notes.
RECEIPTS,
Customs.
Internal revenue
Miscellaneous
D i s b u r s i n g officers
Post-Office D e p a r t m e n t
Transfers.
..
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
.
Minor coin
Gold certificates
Redemption and exchange.
Issues
$5,000
$46
$61,500
20,000
5,000
694,000
.
75
76
17
253,172
7,000
185,600
98,000
5,604,000
95,000
5,000
. . . .
40,000
1,374,107
2,675,914
664,800
2,138,107
2,501,500
2,929,300
6,720,900
161,480
49,180
Total
$2,501,500
9,650
145
2,732,300
1,326
9,418
1,359
2,764,994
210,000
2,368,050
452,040
2,401,000
DISBURSEMENTS.
W a r r a n t s a n d checks
D i s b u r s i n g officers
Post-OfficeDepartment
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver c o i n . .
U n i t e d States notes
T r e a s u r y notes of 1 8 9 0 . . .
N a t i o n a l b a n k notes
Gold certificates
Silver certificates
Minor coin
. . . .
•
60,170
18
7,666
3,000
57,800
298,656
63,000
10,000
60,040
23,000
62,865
550,500
17,000
190,310
501,600
66,035
366,870
2,804,960
3,337,015
6,625,485
Nationalb a n k notes.
Gold certificates.
Total
Account.
1,566
Silver cerMinorcoin.
tificates.
Total.
RECEIPTS.
Customs..
Internal revenue
Miscellaneous
Disbursing officers.
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates
R e d e m p t i o n a n d exchange
Issues
.
$134,019
$3
$790,068
68,250
2,019,000
787,000
9,626,530
6
6
2
92,716
2,218,950
114,500
65,300
2,000
43,365
152,947
65,471
8,190,401
2,700,550
162,945
142,970
90,000
1,310,590
440,000
4,517,531
431,545
169,966
7,165,479
3,253,890
34,457,619
2,700,550
2,542,195
264,470
40,000
13,565,987
440,000
19,557,770
' Total
$589,500
$51,270
4,787,850
2,298,400
9,996,800
14,908,170
16,110,199
524,278
65,390,224
40,000
6,569,500
645,065
•12,112,000
'947,000
3,588,948
2,137,032
3,740,600
255,930
1,713,199
311,995
7,529,163
103
2,582
131
299,545
1,454,359
14,261,347
3,709,247
31,628,782
18,000
1,147,160
130,000
740,200
280,000
130,860
2,355,200
1,412,774
241,700
99
208,400
74,000
1,414,107
2,485,200
2,660,024
670,300
119,000
246,000
24,000
63,000
706,000
1,247,900
44,320
233,740
1,578,406
298,830
302,860
20,055,965
14,772,160
16,061,797
606,020
DISBURSEMENTS.
W a r r a n t s a n d checks
D i s b u r s i n g officers
Post-Office D e p a r t m e n t
Transfers
Redemption and exchange:
Gold coin
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
U n i t e d States notes
T r e a s u r y n o t e s of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
Total
700
90,000
1,310,590
4,513,131
433,185
RA. AQO 9 7 9
'
'
171
TBEASUBEB.
No.
1 1 . — R E C E I P T S AND D I S B U R S E M E N T S OF EACH K I N D OF M O N E Y
ACCOUNTS AT THE SUBTREASURY IN CHICAGO FOR THE FISCAL Y E A R
Gold coin.
Account,
Subsidiary
Standard
silver dollars. silver coin.
ON ALL
1910,
Treasury
United
States notes . notes.
RECEIPTS,
Customs
Internal revenue
Miscellaneous
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates..
R e d e m p t i o n a n d exchange
Issues
:
$279,945
. $150,000
$000,000
$7,740
33,730
2,167,715
1,123,550
16,719,145
7,905
8,955
2,565
7,330
9,250
6,328,215
942,195
14,942,970
"
6,426,720
15,957,535
21,690
15,092,970
sTotal
$5,333,864
5,333,864
7,026,720
43,552,030
65 435
100
200
305
57,500
DISBURSEMENTS,
W a r r a n t s a n d checks
Disbursing officers
Post-OfficeDepartment.
Transfers
R e d e m p t i o n a n d exchange:
Gold c o i n .
S t a n d a r d silver dollars
Subsidiary silver coin
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certfficates
Silver certfficates
Minor coin . .
7,578,923
925,610
2,795,060
856,995
18,801,715
170,000
5,150
25,460
542,217
5,675,875
13,244,965
649,000
1,829,853
4,288,005
9,000
4,955,680
20
17,000
635,745
5,484,484
8,122,977
42,958,115
Nationalb a n k notes.
Gold certfficates.
$1,435
$10,092,660
2,010
135,340
182,025
841,005
1,941,170
70,492,350
13,954,640
156,056,590
$180,734
50
65,767
3,453,043
1,225,699
29,402,107
4,273,255
140
154
42
490,746
22,165,315
3,090,000
30,294,482
670,703
95,813,279
3,090,000
277,792,725
68,895,137
1,161,928
421,211,119
2,305
57,450
79,725
1,501,990
10,337,480
78,140,824
14,157,074
133,497,515
1,057,283
1,419,805
513,413
34,111,252
154
153
147
860,226
12,322,932
83,062,492
15,607,659
202,526,979
15,240,577
35,000
107,700
1,792,070
1,600
2,107
5,257,384
5,210
37,501
11,590
136
622,235
Account,
i,837
7,630,013
Total
1,196,479
15,417,970
5,292,384
6,411,020
15,947,535
22,190
30,420
17,163,485
2,493,200
9,300
8,000
26,567,129
780
1,267
2
22,127,165
30,276,932
676,247
2,294,125
272,975,825
68,991,454
1,167,407
409,691,505
Silver cer. tificates. Minorcoin.
67,105
Total.
RECEIPTS.
Customs
Internal revenue..
Miscellaneous.
Disbursing officers
Post-Office D e p a r t m e n t
Transfers.
S t a n d a r d silver dollars
Subsidiary silver coin
Minor coin
Gold certfficates
R e d e m p t i o n a n d exchange
Issues
:
1,065,430
63,065
Total
2,290,310
$143
$10,562,657
50
2,050,722
76,257,557
16,488,521
204,266,923
4,282,505
7,393,645
1,005,260
DISBURSEMENTS.
W a r r a n t s a n d checks
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
Subsidiary silver coin
U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certfficates
Minor coin
•
•
.
Total
.
305,322
172
No.
REPORT ON T H E EINANCES.
1 2 . — R E C E I P T S AND DISBURSEMENTS OF EACH K I N D OF M O N E Y ON ALL
ACCOUNTS AT THE SUBTREASURY IN S T . L O U I S FOR THE FISCAL Y E A R 1910.
Subsidiary
United
Standard
Gold coin. silverdollars. silver coin. States notes. Treasury
notes.
Account.
RECEIPTS.
Customs .
Internal revehue
Miscellaneous
Disbursing officers
Post-Office Department
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin
Gold certificates
Redemption and exchange
Issues
.
$170,963
$157
$8
$29,000
40,163
33,340
479,898
- :
44
3,224
1,682
552
1
44
903
982,372
2,051
.857,035
448,666
10,579,604
$3i,566
500
4,661,870
378,040
100,000
3,333,900
6,643,795
4,412,598
is,566
4,158,264
2,533,289
7,027,123
21,368,864
47,500
185,120
218,620
6,370
74,990
554
567
1,603
2,784,398
22
35
20
.5,465,559
52,000
4,928,918
1,010,500
6,618,030
47,566
5
4
1,382,480
214
4,424,422
2,684,643
• 293,457
5
3
53,000
422,487
3,080,589
6,848,123
National- Gold certifibank notes.
cates.
Silver certificates.
Minorcoin.
$2,025,300
3,000
$5,000
167,IOO
1,685,320
3,967,230
1,033,280
1,233,620
26,673,190 . 47,602,250
$142,110
552
84,850
I,840,391
696,529
12,972,612
2,749,200
3,000
$156
1
149
1,410
1,594
209,998
4,240,200
1,500,000
7,386,795
486,6i4
29,991,690
60,754,700
25,876,039.
699,922 1 152,457,391
2,066,430
104,800
26,736,470
Total
2,527,630
2,944,700
26,386,241
5,666,859
16,293,500
69,818
2,174,534
525,220
13,661,797
148
149
148
376,428
2,510,.061
50,550
20,000
15,500
7
325,474
DISBURSEMENTS.
Warrants and checks
Disbursing officers
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Gold certfficates
.
Silver certfficates
Minor coin
431,200
. .
694,600
•..
1,610,900
Total
Account.
20,194,214 1
47,500
Total.
RECEIPTS,
Customs
Intern'al revenue
Miscellaneous
Disbursing officers..
Post-Office Department
Transfers
Standard silver dollars
Subsidiary silver coin.
Minor c o i n . . . .
Gold certificates
Redemption and exchange
Issues
591,130
3,770
Total
16,000
$2,367,694
3,553
259,195
8,394,817
3,449,614
99,500,476
2,780,700
5,272,500
381,810
100,000
28,447,032
1,500,000
DISBURSEMENTS,
Warrants and checks'.
Disbursing officers
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Gold certfficates
Silver certfficates
Minor coin
Total.
..
..».
3,000
1,533,150
,62,490
30,506,340
2,937,700
3,54i,266
53,500
4,400
6,986,838
430
57,823,700 1 26.019.148
'
'
81
702,362
3,252,362
35,775,494
7,315,520
72,058,672
3,368,900
2,513,275
6,008,138
4,412,597
15,500
4,240,200
7,386,795
485,423
146,832,876
173
TBEASUBEB.
N o . 1 3 . — R E C E I P T S AND DISBURSEMENTS OF EACH K I N D OF M O N E Y ON ALL
ACCOUNTS AT THE SUBTREASURY IN N E W ORLEANS FOR THE FISCAL Y E A R 1910.
Account.
United
Subsidiary
Standard
Gold coin. silverdollars. silver coin. States notes. Treasury
notes.
RECEIPTS,
Customs
Internal revenue
Miscellaneous
Disbursing officers.
Post-Office Department
Transfers
Standard silver dollars
Subsidiary silver c o i n . . . :
Minor coin
Gold certificates
Redemption and exchange. .
Issues
$2,301
$705
$952,225
^1,657
225
1,128
1,203
34,155
15,937
68,182
68,377
174,198
8,134
70,609
41,938
195,226
62,567
2,327,824
263,961
4,479,969
1,000
208,200
11,970
1,902
815
917
2,816
6,120
3,100
616
286,601
1,698,510
3,117,001
1,539,450
9,140
331,525
Total
$8,153
2,027,505
3,433,613
9,847,166
27,143
1,058
160,236
4,030
3,450
4,152
398,008
42,340
1,628,450
2,079
590,586
45,780
2,827,455
1,533,521
1,476,225
549,714
3,015,913
24,000
10
15,261
99,500
562,360
1,236,750
1,150
24,150
139,010
196,150
20,850
.
DISBURSEMENTS.
Warrants and checks
Disbursing officers...
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Gold certificates
Silver certificates
Minor coin
4, .500
. 9,500
8,500 '
12,000
2,097,450
3,495,910
8,870,554
National- Gold certifibank notes.
cates.
Silver ce'rtificates.
Minorcoin.
$5,473,250
$93,253
$1,214
$6,539,758
70,860
1,'867,670
400,240
15,262,110
753,250
2,893,790
125,460
15,620
71,287
60,759
5,167,061
783,130
337,600
39,929
9,657
48,926
45,830
162,968
248,147
5,716,511
1,624,520
31,031,998
1,544,500
3,968,270
210,925
37,650
2,281,750
20,000
5,105,450
130,955
14,206,567
20,000
8,222,225
Account.
20,000
630, .544
Total
461,770
29,148,380
11,674,089
399,550
65,111,196
217,870
2,064,551
337,595
3,143,734
1,448,959
5,599,256
1,872,988
8,341,058
113,298
1,269,409
119,174
6,190,146
1,182
238,812
30,236
121,596
3,322,119
11,797,083
3,001,857
25,295,802
81,400
1,712,235
14,000
2,900
263,859
738,800
811,260
239,050
3,790
7,528
775,310
23,145
24,150
1,050
3
44,620
44,100
98,420
" 1,596,950
1,515,4508,630
3,330,550
2,005
20
286,661
1,695,010
3,109,000
1,533,950
8,890
37,650
2,274,850
5,086,250
129,925
7,761,425
22,440,050
11,855,765
403,349
57,579,047
24,000
Total.
RECEIPTS.
Customs
Internal revenue, , „., .
Miscellaneous
Disbursing officers
Post-OfficeDepartment
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin
Gold certificates
Redemption and exchange
Issues
Total
$7,000
63,245
1,260,070
741,295,
5,553,495
1,000
525,520
32,950
DISBURSEMENTS.
Warrants and checks
Disbursing officers
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes
Treasury notes of 1890
National bank notes
Gold certificates
Silver certificates
Minor coin.
Total
6,000
5,000
500
174
REPORT ON T H E EINANCES.
No.
1 4 . — R E C E I P T S AND D I S B U R S E M E N T S OF EACH K I N D OF M O N E Y ON ALL
ACCOUNTS AT THE SUBTREASURY IN SAN FRANCISCO FOR THE FISCAL Y E A R 1910.
Gold coin.
Account.
Subsidiary
Standard
United
Treasury
silver dollars. silver coin. S t a t e s n o t e s .
notes.
RECEIPTS.
$6,394,894
$7,206
$6,259
$6
1,063
16,421
. 9,900
11,216
607
149,627
27,742
1,019,133
4,440
820
8,544
325,910
10
1
180
749
936,072
2,779,545
4,923,715
564
180
75,881,579
983,489
3,984,040
345,973
946
3,933,275
47,550,913
2,725,197
8,328,990
Total
$8,253
346,229
1,631,199'
4,507,219
42,509,748
536,400
4,100,155
191,425
7,160,000
3,580,595
Customs
Internal revenue
Miscellaneous
D i s b u r s i n g officers
Post-Office D e p a r t m e n t . . . .
Transfers
S t a n d a r d silver dollars
S u b s i d i a r y silver coin
Minor coin
Gold certificates
R e d e m p t i o n a n d exchange
Issues..
Special c u s t o m s deposit
1,084,391
728
181,479
748
4,236,186
10,000
DISBURSEMENTS.
W a r r a n t s a n d checks
D i s b u r s i n g officers
Post-OfficeDepartment
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars..
S u b s i d i a r y silver coin
U n i t e d S t a t e s notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certfficates
Minor coin
Total
°
.
715,000
899,429
2,774,527
536,900
80,000.
5,666
1,000
296,845
8
1,580,000
2
66,684
....
1,701,291
4,419,151
312,445
Gold certifiNationalb a n k notes.
cates.
Silver certificates.
Minor coin.
68,574,015
Account,
1,000
Total.
RECEIPTS.
Customs
Internal revenue
Miscellaneous
Disbursing officers
Post-Office D e p a r t m e n t
Transfers
S t a n d a r d silver dollars..
Subsidiary silyer coin
Minor coin
Gold certfficates
Redemption and exchange.. .
Issues
Spenial c u s t o m s deposit
Total
$5,750
$201,740
$18,513
$332
$6,642,953
57,565
15,445
48,245
3,933,393
10,760
8,300
22,740
1,690,860
3,457
1,063
19,556
629,893
500
61
2,466
. 3,333
136,441
424,192
1,825,342
4,647,459
50,257,343
536,900
4,184,255
191,425
7,160,000
9,148,898
7,360,000
4,924,482,
84,100
1,780,000
7,360,000
..
72,686
23
11,074,400
672,982
110,000
107,000
2,230,000
2,475,000
521,000
1,284,430
8,339,820
24,500
47,643
215,342
97,303,249
8
19,814
8
203,481
3,934,011
49,059,197
2,725,953
18,542,557
9
4,144,498
10,740,595
947,072
2,774,544
DISBURSEMENTS.
W a r r a n t s a n d checks
Disbursing officers
.
Post-Office D e p a r t m e n t
Transfers
R e d e m p t i o n a n d exchange:
Gold coin
S t a n d a r d silver dollars
Subsidiary silver c o i n . . .
U n i t e d States notes
T r e a s u r y notes of 1890..
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
Minor coin
Total
200,000
1,780,000
1
3,514,430
11,124,820
700,143
66,687
223,321
90,570,616
175
TBEASUBEB.
No.
1 5 . — T O T A L RECEIPTS AND DISBURSEMENTS OF EACH K I N D OF M O N E Y ON ALL
ACCOUNTS AT THE T R E A S U R Y OFFICES FOR THE FISCAL Y E A R
Account.
1910.
Subsidiary
Standard
United
Treasury
Gold coin. silverdollars, silver coin. States notes. notes.
RECEIPTS.
Customs
Internal revenue
Miscellaneous
Disbursing officers
Post-Office Department
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin
Gold certificates
Redemption and exchange.
Special customs deposit
Issues
Gold bars
$7,924,458
$47,704,585
7,264.
2,203,712
17,389,741
9,040,215
269,714,725
1,000
12,010,410
1,472,929
21,386,833
564
61,963,510
2,272
125,649,028
1,307,294
129,940,000
198,153
134,032,216
23,583,132
65,985,552
616,440,903
875,199
4,284,656
50,270,660
2,897,077
11,079,311
4,706
1,500,663
44,088
14,182,923
7,405
1,319,350
48,868
39,961,434
4,034,487
48,897,211
3,693,444
146,743,502
100
200
305
324,704
1,444,872
909,429
3,055,527
3,259,818
90
16,168
111,686,278
98,485
71,684
81,184
172
5
99,202
5
268,420
7,624,897
5
100,072
30,231
313
10,335,191
1,739
3,361,684
11,447,480
1,765,072
124
131
758,051
99,714
14,594,303
90,152,676
5,782
71,913,280
3,994,055
35,521,384
2,262,707
59,748,116
129,940,000
543,000
189,074,055
Total.
$13,603
18
112,456
298,640
101,248
3,493,801
23,806,270
68,379,094 .612,358,712
877,309
353,
1,833,
4,651,
46,729,
536,
4,146,
198,
15,440,
47,294,
$91,662
17,274
120,787
94,564
1,870,948
500
4,923,
$9,623
10,945
15,834
7,134
580,910
47,870
4,000
730
DISBURSEMENTS.
Warrants and checks
Disbursing officers
Post-Office Department..
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars—
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Gold certfficates
Silver certificates
Minorcoin
Clearing-house balances
Redemption and destruction.
Total.
Nationalbank notes.
Gold certificates.
Silver certificates.
Minor coin.
9,000
Total.
RECEIPTS.
Customs
*
.
Internal revenue
Miscellaneous
Disbursing officers
Post-Office Department
Transfers
Standard silver dollars
Subsidiary silver coin
Minor coin
Gold certificates
Redemption and exchange..
Special customs deposit
Issues
Gold bars
Total.
$21,685 $242,251,910
8,170
11,740
8,845,340
371,602
109,361,817
11,866,434
31,210,310
7,200,160
148,792,879 1,057,599,430
753,250
1,400
13,531,073
6,802,260
593,430
1,089,213
$5,394,745
18,708
2,601,454
10,106,659
5,319,860
397.609,309
13,012,865
7,307,582
1,955,456
361,313,102
432,769,640
283,028,000
23,687,715
407,902,519
145,220
353,997,600
420,719,591
596,381,181 2,566,048,976 1,205,371,977
$2,273 $303, 414,544
3
4.5,903
14, 531,752
15,347
53,159
151, 046,500
51,010
57, 675,721
1,335,656 1,927,727,111
14; 352,785
43, 802.672
5', 910; 160
440,000
15, 468,567
9,041,151
486 1,455,149,191
439, 965,600
766, 687,715
23,
10,499,085 5,219,218,221
DISBURSEMENTS.
Warrants and checks
Disbursing officers
Post-Office Department
Transfers
Redemption and exchange:
Gold coin
Standard silver dollars
Subsidiary silver coin
United States notes.
Treasury notes of 1890
National-bank notes
Gold certificates..'
Silver certfficates
Minor coin
Clearing-house balances
Redemption and destruction.
Five per cent fund
Total.
366,925
29.583.179
19,393,705 1,102,831,711
2,030,715
40,681,360
67,633,204
488,210,333
2,870,453
31,636,289
2,507,232
335,307,222
1,825
41,153,736
328,611 1,256,178,400
30,779
51,933,868
4,569,901 1,108,012,534
59,156,619
1,092,060
8,875,290
8,435,195
9,790
48.370.180
220,860,555
80,554,625
1,595,580
188,907,180
272,843,000
240,041
18,900,792
29,620,649
9,997,689
167,734
125,036,624
9,899,372
281,152,011
4,761,186
365
349,294,600
63,149,617
66,348
21,119,884
3,086
61,216,772
16
1,865,139
124,232,910
1,368
198,403
780,676
249,484,617
2,909,533
361,229,313
898,636 • 407,915,710
524
9,010,690
12
248,655,804
784,909,369
462,200,709
591,251,526 2,552,006,657 1,201,392,259
11,456,454 5,250,602,336
1,302,430
84,400
5,070,669
88,000
2,900
6,000
163,620
300,600
318,880
32,288,769
462,200,709
176
REPORT ON T H E FINANCES;
No.
1 6 . — A S S E T S AND LIABILITIES OF THE TREASURY OFFICES, J U N E 30,
Washington.
Baltimore.
Philadelphia,
New York.
1910.
Boston.
ASSETS.
Gold coin
Standard silver dollars
Subsidiary silver coih
United States'notes
Treasurv notes of 1890
National-bank notes
Gold certificates..:
Silver certificates
Minor coin
Eraotional currencv
Bonds and interest paid
$8,150,865,78 $12,268,394.28 $49,795,392.50 $14,624,240,00 $15,766,982.23
5,653,142.00
4,218,410.00
924,796.00
156,672,772.00
79,483,035.00
1,431,978.20
788,609.35
1,159,032,64 . 282,559.30
4,029,642.40
126,958.00
785,547. 00
86,039.00
3,690,861.00
925,721.00
399.00
309.00
328.00
2,431.00
20,386.00
23,156.00
50,760.00
25,755,606.45
73,395.00
1,467,400.00 1,311,880.00
1,489,770.00 14,336,800,00
2,055,540.00
225,000.00
247,088.00
99,680,00
5,740,152.00
1,502,018.00
6,508.78
21,862.98
24,208.65
52,140,50
22,658.55
17.36
79,00
424.85
290.15
36.75
10,031.39
Total cash assets
U na vailable
Transfer account
203,247,488.42
Aeereeate
240,869,344.40
18,517,840.31
150,210,685.79
23,556,454.19
19,872,866,38
18,517,840.31
150,210,685,79
23,556,454.19
19,872,866.38
243,446,96
1,158,033,07
2,887,845,86
26,895,928,82
613,752.57
1,991,875,19
249,823.95
2,381,276.23
57,027,56
1,094,388,54
183,479,13
156,834.45
37,621,855.98
LIABILITIES.
Outstanding warrants and
127,224.74
checks
Disbursing officers' balances 3,873,742.29
Post-Office Department ac30,326.75
count
Bank note 5 per cent 'redemption fund .
25,616,415,91
Other deposit and redemp3,724,808,41
tion accounts
18,401.03
3,027,395,35
185,168.22
458,948.95
Total agency account. 33,372,518,10
Balance to credit of mints
and assay offices
Balance transfer account
267,496,826.36
Balance general account
1,476,908.62
33,905,558.57
2,974,275,11
3,246,883.58
1,770,085,07
15,270,846,62
8,316,750.47
18,537,459,42
89,450,917,33
240/869,344.40
18,517,840,31
150,210,685.79
Cincinnati,
Chicago.
St, Louis,
Aggregate
9,545.95
1,962,241.94 2,637,932.73
18,610,391.19 13,988,050.07
23,556,454.19
19,872,866, 38
New Orleans. San Francisco
ASSETS,
Gold coin
Standard silver dollars
Subsidiary silver com
United States notes
Treasury notes of 1890
National-bank notes
Gold certfficates
Silver certfficates
Minor coin.
Eractional currency . .
Bonds and interest paid
$14,381,493,61 $74,980,984.36
6,529,397.00
2,771,690.00
813,354,75 1,174,907.00
1,206,560.00
266,415.00
301,805.00
1,301,010.00
202,209.00
9,852.62
24, i66.66
9,829,870.00
358,638,00
32,064.23
$23,158,667.50 $8,284,033.20 $18,635,147.37
5,153,150.00 10,023,747.00 26,963,379,00
2,112,841.00
402,857.00
1,066,706.90
1,463,500.00
132,988.00
995,255.00
500.00
417.00
5,091.00
124,500. 00
502,900.00
1,506,590. 00
7,031,000,00 9,174,280.00
93,340. 00
144,858.00
246,627,00
59,420.00
24,186.34
7,366.42
15,088,06
34.89
213.35
330, 65
83.00
686.75
20,047,912.98
94,137,207.34
39,213,533,49
20, Q47,912. 98 94,137,207.34
39,213,533. 49
130,806.29
939,033.20
1,430,988.84
9,292,263,24
116,897,22
78,583,79
Total agency account. 1,265,320,50
Balance to credit of, mints
and assay offices.
'.
Balance transfer account.... 1,433,700.46
17,348,892.02
Balance general account
Total cash assets
Unavailable
Aggregate... •.
30,313,728,16
701,851.34
47,801,753.03
3 1 . 0 1 5 . .579. .SO
,
47,801,753.03
3,953,982.33
.2,352,678.57
181,411.13
1,588,352.01
815,634, 69
5,121,207,42
245,391,10
74,073.06
84,816.10
166,956,95
727,792,21
261,514.29
89,419.48
84,968.27
11,696,435.39
6,642,248,25
1,943,998.72
6,188,767.33
932,656.69
3,159,612.83
78,348,502. 43
19,463.26
3,538,950.62
29,012,871.36
253,573.82
1,355,891,29
1,108,554.35 3,473,318.56
27,709,452. 61 36,783,775. 85
94,137,207.34
39,213,533.49
31,015,579.50
,
,00
^
LLA.BILITIES.
Outstanding warrants and
checks...
Disbursingofficers' balances
Post-Office Department account
,
Other deposit and redemption accounts
Aggregate
20,047,912.98
47,801,753. 03
177
TBEASUBEB.
No.
17.—^ASSETS OF THE TREASURY IN THE CUSTODY OF MINTS AND ASSAY
OFFICES, J U N E 30, 1910.
Boise City.
Carson City.
Charlotte,
Dahlonega.
Deadwood. ;
BULLION FUND.
Gold coin
Gold bullion
Standard silver dollars
Subsidiary silver coin...
Silver bullion
United States notes
Gold certfficates.. .
Minor com
Balance in subtreasuries
and national banks..
$45,160.25
$29,753.34
85,675,43
$13,520,49
3,637,20
2,015.60
1,045.00
.74
35,628.08
107,777.24
$21,451,68
Total available
Unavailable
81,834.07
228,858.81
75,549.75
21,451,68
32,000,00
$27,950,03
Aggregate
81,834,07
304,408, 56
53,451.68
27,950.03
Denver,
Helena.
Salt Lake City.
115,832,79
Seattle,
129,353.28
129,353.28
St. Louis.
BULLION FUND.
$385", 144,572. 50
Gold coin
3,890,536.37
Gold bullion.
Standard silver dollars
4,162,587. 20
Subsidiary silver com
302,443.89
Silver bullion
United States notes .
9,666.66
Gold certificates
37,83
Minor coin
Balance in subtreasuries
1,984,107,04
and national banks
$57,737.29
$130,000.00
1,414,853.35
$41,524.52
57.10
84,422,41
Total available
Unavailable
395,494,184.83
142,159,70
Aecrresrate
395,494,184.83
142,159. 70
Philadelphia.
$58,515.43
. 216,832.15 1,313,708,07
19,463,26
275,347.58
2,858,561,42
61,044.88
275,347.58
2.858,561,42
61,044.88
San Francisco, New Orleans. New York.
Total.
BULLION FUND.
$11,338.21
Gold coin
$300,268,558.50 $12,031,020,00 $1,655,721.21
31,613,415.77 41,287,068,87 3,602,505,06 22,857,967,82
Gold bullion
106,471,127.00 61,400,000,00 29,580,349,00
Standard silver dollars
291,29L80
Subsidiarv silver coin
220,976.30 1,573,525,00
2,582,98L92
'137,577,72
151,572.71
Silver bullion
369,185,07
.27,382,00
7,975.00
United States notes
16,880.00
Gold certfficates
.15
.06
.51
Minor coin
Balance in subtreasmies
253,573.82 4,490,774.32
2,622,907.38
and national banks.
Total available
Unavailable
$699,270,963.76
104,968,480. 65
197,451,476.00
6,252,0,17.50
3,545,834.01
36,402.00
26,780.00
39.29
11,266,478.24
441,244,255.05 117,931,157.62 36,830,634.32 27,519,628.21 1,022,818,47L 45
13,543.82
562,601.56
413,557.96
Aggregate bullion fund. 441,257,798,87 118,344,715.58 36,830,634,32 27,519,628.21 1,023,381,073.01
MINOR COIN AND METAL
FUND.
Gold coin
Gold certfficates
Silver certificates
Mmor coin
Aggregate assets
84,666,66
72.00
661,501.64
7,840.00
3,720.00
7,840.00
84,000.00
72.00
665,221.64
442,003; 372.51 118,356,275,58 36,830,634,32 27,519,628.21 1,024,138,206.65
65872°—FI 1910-
-12
178
REPORT ON T H E FINANCES.
No.
1 8 . — G E N E R A L DISTRIBUTION OF THE ASSETS AND LIABILITIES OF THE
T R E A S U R Y , J U N E 30, 1910.
Treasury
offices.
Mmts and
assay offices.
National-bank
a n d other
depositaries.
Total.
I n transit.
ASSETS.
$240,046,200.83 $699,278,803.76
Gold coin
104,968,480.65
Gold bullion
298,393,518,00 197,451,476.00
S t a n d a r d silver dollars
13,262,488.54
S u b s i d i a r y silver coin
6,252,017.50
Silver bullion
3,545,834.01
9,679,844.00
U n i t e d States notes
36,402.00
9,475.00
T r e a s u r y notes of 1890
28,383,198. 45
N a t i o n a l - b a n k notes
48,090,890.00
110,780.00
Gold certificates
8,825,690.00
72.00
Silver certfficates
215,937.13
665,260.93
Minor coin
131.25
F r a c t i o n a l currency
Deposits m n a t i o n a l b a n k s ,
etc
$55,680,236.30
12,096.89
B o n d s a n d interest paid
$872,000.00 $940,197,004.59
104,968,480.65
495,844,994.00
19,575,016.51
00,510.47
3,545,834.01
11,893,146.00
2,176,900.00
9,475.00
29,771,198.45
1,388,000.00
60,182,670.00
11,981,000.00
10,519,762.00
1,694,000.00
55,001.02
936,199. 08
131.25
55,680,236.30
12,096.89
T o t a l a v a i l a b l c a s s e t s . . 646,919,470.09 1,012,309,126.85
701,851.34
562,601.56
Unavailable
Balance in subtreasuries a n d
11,266,478.24
national banks
37,621,855.98
Transfer account
55,680,236.30 18,227,411.49 1,733,136,244.73
218,463.55
382.80
1,483,299.25
685,243,177.41 1,024,138,206.65
55,898,699.85 18,277,794.29 1,783,557,878.20
Agsreeate
11,316,478.24
37,621,855.98
50,000.00
LIABILITIES,
Outstanding warrants and
checks. . .
Disbursing officers' balances.
Post-Office D e p a r t m e n t account
B a n k n o t e 5 per oent r e d e m p tion account
O t h e r deposit a n d r e d e m p tion accounts
T o t a l agency account
Balance t o credit of m i n t s
a n d assay offices .
Balance transfer account
Balance general account
1,642,200.03
• 14,017,994.56
2,210,190.86
14,607.62
12,277,117.39
69,612,384.60
2,224,798.48
25,616,415.91
25,616,415.91
8,657,000.00
2,127,983.68
10,784,983.68
102,712,914.17
15,674,802.21 2,127,983.68
120,515,700.06
428,596.76
10,887,881,48
37,621,855.98
534,020,525.78 1,024,138,206.65
11 316 478.24
37,621,855.98
39,795,300.88 16,149,810.61 1,014,103,843.92
685,243,177.41 1,024,138,206.65
AKsregate
No.
10,634,917. 36
55,594,390.04
55,898,699.85 18,277,794.29 1,783,557,878.20
19.—DISTRIBUTION
OF THE G E N E R A L T R E A S U R Y
Location.
Treasurer's general account.
Washington
Baltimore
New York
Philadelphia
Boston
:
Cincinnati
Chicago
St. Louis
New Orleans
San Francisco
Mints and assay offices
National banks
Treasury of Philippine Islands..
United States depositaries (old)
In transit
Total Treasury balance...
BALANCE, J U N E
Receipts not
covered by
warrants.
$207,496. 826. 30
15,270;846. 62
89,450,917.33
391,19
• 18,610,
1 3 , — 050. 07
17,348',892. 02
78,348,502. 43
29,012,871. 30
27,709,452. 61
36,783,775.85
1,024,138 206. 65
• 40,397'201. 31
a 605,602. 60
3 702.17
16,149:810. 61
$35,300. (
1,614,103,843.92
301,960. 00
a Overdraft.
3,181. 54
877." 55
7,005.13
440,46
5,909.02
8,692. 41
1,645.70
65,312. 59
168,610. 64
4,984.88
30,
1910.
Balance as shoAvn
by warrants.
$207,461,526. 22
15,270,846. 62
89,447,735. 79
18,609,513. 64
13,981,044. 94
17,348,451. 56
78,342,593. 41
29,004,178.95
27,707,806.91
36,718,463.26
1,024,138,206. 65
40,228,590. 67
a 610,587.48
3,702.17
16,149,810. 61
1,613,801,883.92
179
TBEASUBEB.
No.
20.—AVAILABLE
ASSETS AND N E T LIABILITIES OF THE T R E A S U R Y AT THE
CLOSE OF J U N E , 1909 AND 1910.
J u n e 30, 1909.
ASSETS.
Gold—Coin.. . .
BulUon
$975,569,205.62
67,135,095.40
J u n e 30, 1910.
$940,197,004.59
104,968,480.65
$1,042,704,301.02
Silver—Dollars
Subsidiary coin
Bullion
496,288,819.00
27,076,747,52
4,242,393,06
$1,045,165,485.24
495,844,994.00
19,575,016.51
3,545,834.01
527,607,959.58
P a p e r — U n i t e d States notes
T r e a s u r y notes of 1890
N a t i o n a l - b a n k notes
Gold certificates
Silver certificates
6,562,749,00
11,585.00
24,381,267.88
37,746,420.00
. 6,696,676.00
518,965,844.52
11,893,146.00
9,475.00
29,771,198.45
00,182,670.00
10,519,762.00
75,398,697.88
Other—Minor coin
Fractional currency
Deposits in n a t i o n a l b a n k s ,
etc
'..
B o n d s a n d interest paid
2,607,433,34
79,48
112,376,251.45
936,199.08
131.25
74,433,679.59
18,662.60
55,680,236.30
12,096.89
77,059,855.01
56,628,663.52
1,722,770,813.49
Aggregate
1,733,136,244,73
LIABnJTIES.
Agency account:
Outstanding
warrants
and
checks
.
Disbursing officers' balances
Post-Office D e p a r t m e n t a c c o u n t .
B a n k - n o t e 5 per cent r e d e m p t i o n
fund
O t h e r deposit a n d r e d e m p t i o n
accounts
8,713,499.43
62,350,300.30
342,525.21
12,277,117.39
69,612,384.60
2,224,798.48
24,540,250.49
25,616,415,91
9,067,940.96
10,784,983.^68
105,014,516.39
General a c c o u n t :
Gold certificates
Silver certificates
T r e a s u r y notes of 1890
Reserve fund
Balance
852,751,869.00
484,414,000.00
4,215,000.00
150,000,000.00
126,375,428.10
120,515,700,06
862,936,869.00
489,117,000.00
3,672,000.00
150,000,000.00
106,894,675.67
1,617,756,297.10
NOo
1,612,620,544.67
1,722,770,813.49
Aggregate.
1,733,136,244.73
2 1 . — A S S E T S AND LIABILITIES OP THE T R E A S U R Y IN E X C E S S OP CERTIFICATES
AND T R E A S U R Y N O T E S AT THE CLOSE OF J U N E , 1909 AND 1910.
June 30,1909,
June 30,1910.
$227,698,852.02
18,598,888.06
27,076,747.52
6,562,749.00
11,585.00
24,381,267.88
2,607,433.34
79.48
74,433,679. 59
18,662.60
$242,411,286,24
17,121,590.01
19,575,016.51
11,893,146.00
9,475.00
29,771,198.45
936,199.08
131. 25
55,680,236.30
12,096.89
381,389,944,49
377,410,375.73
105,014,516,39
150,000,000,00
126,375,428.10
120,515,700.06
150,000,000,00
106,894,675,67
381,389,944.49
377,410,375,73
ASSETS,
Gold coin and bullion
Silver dollars and bullion
Subsidiary silver coin
United States notes
Treasury notes of 1890
National-bank notes
Minor coin
Fractional currency
Deposits in national banks, etc
Bonds and interest paid
Total
LIABILITIES,
Agency account
Reserve fund
Available cash balance
Total
180
No.
REPORT ON T H E EINANCES.
2 2 . — U N A V A I L A B L E F U N D S OF THE GENERAL TREASURY AND POST-OFFICE
DEPARTMENT, J U N E 30, 1910.
GENERAL TREASUR7.
Deficits and defalcations.
Subtreasuries:
Defalcation, subtreasury United States, New Orleans, 1867, May
and Whitaker
$675,325,22
Defalcation, subtreasury United States, New Orleans, 1867, May
property
5,566.31
Deficit, subtreasury United States, New Orleans, 1885
20,959.81
Deficit, subtreasury United States, New Orleans, 1886
328.80
.
$702,180,14
Mmts and assay offices:
Deficits and defalcations, mint United States, San Francisco,
1857 to 1869
413,557,96
Defalcation, mint United States, Dahlonega, 1861
27,950.' 03
Defalcation, mint United States, Charlotte, 1861
32,000.00
Deficit, mint United States, Carson City, 1894
75,549.75
Deficit, mint United States, Philadelphia, 1893
13,543.82
Deficit, mint United States, New Orleans, 1886
54.00
562,655.56
National-bank depositaries:
Failure, Venango National Bank of Franklin, Pa., 1866
181,377.51
Failure, First National Bank of Selma, Ala., 1867
33,383.87
214,761.38
Depositaries United States:
Defalcation, depositary United States, Galveston, 1861
778.66
Defalcation, depositary United States, Baltimore, 1866
547.50
Defalcation, depositary United States, Pittsburg, 1867
2,126.11
Deficit, depositary United-States, Santa Fe, 1866, short in remittance
249,90
3,702,17
Total deficits and defalcations, General Treasury
Post-Office Department:
Defalcation, subtreasury United States, New Orleans, 1861
Defalcation, depositary United States, Savannah, 1861
Defalcation, depositary United States, Galveston, 1861
Defalcation, depositary United States, Little Rock, 1861
$1,483,299,25
•..
31,164.44
205.76
83.36
5,823.50
37,277,06
Aggregate
1,520,576.81
181
TBEASUEER.
N o . 2 3 . — E S T I M A T E D STOCK OF GOLD COIN AND BULLION, THE AMOUNT IN THE
T R E A S U R Y , AND THE AMOUNT IN CIRCULATION AT THE E N D OF. EACH MONTH,
FROM J A N U A R Y , 1904.
Month.
1904—January:
Estimated stock
In the Treasury.
In circulation...
February:
Estimated stock
I n t h e Treasury-.
In circulation...
March:
Estimated stock
In the Treasury.
Incirculation...
April:
Estimated stock
In the Treasury,
In circulation...
May:
Estimated stock
In theTreasury.
In circulation...
June:
Estimated stock
In the Treasury.
In circulation...
July:
Estimated stock
In the Treasury.
In circulation...
August:
Estimated stock
In the Treasury.
Incirculation...
September:
Estimated stock
In theTreasury.
Incirculation...
October:
Estiraated stock
I n t h e Treasury.
In circulation...
November:
Estimated stock
In theTreasury.
In circulation...
December:
Estimated stock
In the Treasury.
In circulation...
1905—January:
Estimated stock
In theTreasury.
Incirculation...
February:
Estimated stock
In theTreasury.
In circulation...
March:
Estimated stock
In the Treasury.
In circulation...
April:
Estimated stock
In theTreasury.
In circulation...
May:
Estimated stock
In the Treasury.
Incirculation...
June:
Estimated stock
In theTreasury.
Incirculation...
July:
Estimated stock
In the Treasui-y.
In circulation...
August:
Estimated stock
In the Treasury.
Incirculation...
Gold com.
Gold bullion.
Total.
$1,111,496,883
483,591,028
. 627,905,855
$215,344,672
215,344,672
$1,326,841,555
698,935,700
627,905,855
1,146,914,400
508,004,690
638,909,710
190,443,317
190,443,317
1,337,357,717
' 698,448,007
638,909,710
1,207,926,349
557,001,639
650,924,710
140,877,621
140,877,621
1,348,803,970
697,879,260
650,924,710
1,239,660,256
583,500,838
656,159,418
112,324,321
112,324,321
1,351,984,577
695,825,159
656,159,418
1,270,165,981
625,271,433
644,894,548
42,954,887
42,954,887
1,313,120,868
668,226,320
644,894,548
1,285,080,291
639,262,715
645,817,576
42,576,107
42,576,107
1,327,656,398
681,838,822
645,817,576
1,284,748,247
640,635,267
644,112,980
57,674,493
57,674,493
1,342,422,740
698,309,760
644,112,980
1,281,212,025
634,547,213
646,664,812
68,684,540
68,684,540
1,349,896,565
703,231,753
646,664,812
1,284,554,125
642,709,262
641,844,863
66,901,843
66,901,843
1,351,455,968
•709,611,105
641,844,863
1,314,583,906
672,790,813
641,793,093
48,463,175
48,463,175
1,363,047,081
721,253,988
641,793,093
1,305,440,609
657,940,060
647,500,549
45,975,024
45,975,024
1,.351,415,633
703,915,084
647,500,549
1,297,139,999
647,591,471
649,548,528
•48,812,536
48,812,536
1,345,952,535
696,404,007
649,548,528
1,294,195,377
644,667,875
649,527,502
47,011,075
47,011,075
1,341,206,452
691,678,950
649,527,502
1,286,600,046
640,848,326
645,751,720
44,565,674
44,565,674
1,331,165,720
685,414,000
645,751,720
1,291,997,470
647,270,924
644,726,546
46,277,076
46,277,076
1,338,274,546
693,548,000
644,726,546
1,292,171,106
647,747,895
644,423,211
51,726,053
51,726,053
1,343,897,159
699,473,948
644,423,211
1,296,649,290
645,670,182
650,979,108
55,413,738
55,413,738
1,352,063,028
701,083,920
650,979,108
1,305,960,157
654,896,568
651,063,589
51,695,831
51,695,831
1,357,655,988
706,592,399
651,063,589
1,307,361,838
656,745,258
650,616,580
61,065,505
61,065,505
1,368,427,343
717,810,763
650,616,580
1,316,242,709
663,239,161
653,003,548
63,561,605
63,561,605
1,379,804,314
726,800,766
653,003,548
182
REPORT ON T H E EINANCES.
NOo 2 3 , — E S T I M A T E D STOCK OP GOLD COIN AND BULLION, THE AMOUNT IN THE
T R E A S U R Y , AND THE APVIOUNT I N CIRCULATION AT THE E N D OF EACH MONTH,
FROM JANUARY, 1904—Continued,
Month,
1905—September:
Estimated stock..
In the Treasury..
Incirculation
October:
Estimated stock..
In the Treasury..
Incirculation
November:
Estimated stock..
In theTreasury..
Incirculation
December:
Estimated stock..
In the Treasury..
Incirculation
1906—January:
Estimated stock..
In the Treasury..
In circulation
February:
Estimated stock..
In the Treasury..
Incirculation
March:
Estimated stock..
In the Treasury..
In circulation
April:
Estimated stock..
In the Treasury..
In circulation
May:
Estimated stock..
In the Treasury..
Incirculation
June:
Estimated stock..
In the Treasury..
Incirculation
July:
Estimated stock..
In the Treasury..
In circulation
August:
Estimated stock..
In the Treasury..
In circulation
September:
Estimated stock..
In the Treasury..
Incirculation
October:
Estimated stock.
In the Treasury..
In circulation
November:
Estimated stock.
In the Treasury..
Incirculation
December:
Estimated stock.
In the Treasury..
Incirculation
1907—January:
Estimated stock.
In the Treasury..
In circulation
February:
Estimated stock.
In the Treasury..
In circulation
March: ,
Estimated stock.
In the Treasury..
In circulation
April:
Estimated stock.
In the Treasury..
Ih circulation
Gold coin.
Gold bullion.
Total,
$1,314,507,078
662,176,943
652,330,135
$72,750,850
72,750,850
1,313,635,983
661,990,985
651,644,998
91,050,533
91,050,533
1,404,686, 516
753,041,518
, 651,644,998
1,315,607,291
666,566,901
649,040,390
96,170,159
96,170,159
1,411,777,450
762,737,060
649,040,390
1,318,995,964
664,827,939
654,168,025
100,947,160
100,947,160
1,419,943,124
765,775,099
654,168,025
1,325,016,490
670,222,793
^654,793,697
98,203,723
98,203,723
1,423,220,213
768,426,516
654,793,697
1,322,876,970
674,020,918
648,856,052
94,130,469
94,130,469
1,417,007,439
768,151,387
648,856,052
1,326,831,495
682,838,188
643,993,307
91,370,715
91,370,715
1,418,202,210
774,208,903
643,993,307
1,342,812,911
670,288,507
672,524,404
90,637,659
90,637,659
1,433,450, 570
760,926,166
672,524, 404
1,369,656,302
686,229,424
683,426,878
97,265,072
97,265,072
1,466,921,374
783,494,496
683,426,878
1,368,612,051
699,956,976
668,655,075
107,094,714
107,094,714
1,475,706,765
807,051,690
668,655,075
1,376,804,530
700,824,869
675,979,661
118,801,964
118,801,964
1,495,606,494
819,626,833
675,979,661
1,383,961,942
707,782,428
676,179,514
123,541,907
123,541,907
1,507,503,849
831,324,335
676,179,514
1,410,506,914
726,238,840
684,268,074
129,333,864
129,333,864
1,539,840,778
855,572,704
684,268,074
1,421,400,284
733, 713,523
687,686,761
145,218,847
145,218,847
1,566,619,131
878,932,370
687,686,761
•1,429,009,743
743,035,321
685,974,422
147,889,169
147,889,169
1,576,898,912
890,924,490
685,974,422
1,431,146,581
738,523,017
692,623,564
155,871,804
155,871,804
1,587,018,385
894,394,821
692,623,564
1,440,249,298
744,709,457
695,539,841
157,866,809
157,866,809
1,598,116,107
902,576,266
695,539,841
1,450,890,495
757,994,683
692,895,812
154,081,932
154,081,932
1,604,972,427
912,076,615
692,895,812
1,455,993,997
765,554,788
690,439,279
155,379,753
155,379,753
1,611,373,750
920,934,471
690,439,279
1,459,633,919
768,152,450
. 691,481,469
158,259,822
158,259,822
1,617,893,741
926,412,272
691,481,469
$1,387,257,928
734,927,793
652,330,135
183
TREASUBEB.
N o . 2 3 . — E S T I M A T E D STOCK OF GOLD COIN AND BULLION, THE AMOUNT IN THE
T R E A S U R Y , AND THE AMOUNT IN CIRCULATION AT THE E N D OF EACH MONTH,
FROM JANUARY, 1904—Continued.
Month.
1907—May:
Estimated stock
In theTreasury.
In circulation...
June:
Estimated stock.
In the Treasury.
In circulation...
July:
Estimated stock.
In the Treasury.
In circulation...
August:
Estimated stock.
In the Treasury.
In circulation...
September:
Estimated stock.
In the Treasury.
In circulation...
October:
Estimated stock
In the Treasury.
In circulation...
November:
Estimated stock.
In the Treasury.
In circulation...
December:
Estimated stock.
In the Treasury.
In circulation...
1908—January:
Estimated stock.
In the Treasury.
In circulation...
February:
Estimated stock.
In the Treasury.
In circulation...
March:
Estimated stock,
In theTreasury.
In circulation...
April:
Estimated stock
In the Treasury.
In circulation...
May:
Estimated stock
In the Treasury.
In circulation...
June:
Estimated stock
In theTreasury.
Incirculation...
July:
Estimated stock
In the Treasury.
In circulation...
August:
Estimated stock
In the Treasury.
In circulation...
r eptember:
Estimated stock.
In theTreasury.
In circulation...
October:
Estimated stock.
In theTreasury.
In circulation
November:
Estimated stock.
In theTreasury.
In circulation
December:
Estimated stock
In theTreasury.
In circulation...
Gold coin.
Gold bullion.
Total.
$1,465,182,901
769,502,643
695,680,258
$153,953)990
153,953,990
$1,619,136,891
923,456,633
695,680,258
1,328,768,271
767,070,900
561,697,371
137,620,830
137,620,830
1,466,389,101
904,691,730
561,697,371
1,331,818,653
765,781,928
566,036,725
142,350,085
142,350,085
1,474,168,738
908,132,013
566,036,725
1,355,653,562
795,296,568
560,356,994
116,909,766
116,909; 766
1,472,563,328
912,206,334
560,356,994
1,359,927,431
797,970,842
561,956,589
123,042,279
123,042,279
1,482,969,710
921,013,121
561,956,589.
1,368,668,660
• 794,209,574
574,459,086
121,074,185
121,074,185
1,489,742,845
915,283,759
574,459,086
1,420,804,115
780,226,163
640,5.77,952
140,910,604
140,910,604
1,561,714,719
921,136,767
640,577,952
1,438,276,003
789,702,830
648,573,173
166,254,490
166,254,490
1,604,530,493
955,957,320
648,573,173
1,463,271,296
821, 775,200
641. 496,096
165,329,279
165,329,279
1,628,600,555
987,104,459
641,496,096
1,483,613,475
849, 809,418
633, 804,057
152,234,999
152,234,999
1,635,848,474
1,002,044,417
633,804,057
1,501,092,789
871, 360,084
629; 732,705
141,472,825
141,472,825
1,642,565,614
1,012,832,909
629,732,705
1,527,262,767
899, 093,879
628, 168,888
112,004,617
112,004,617
1,639.267,384
1,011,098,496
628,168,888
1,538, 405,225
919, 784,464
618, 620,761
77,608,708
77,608,708
1,616,013,933
997,393,172
618,620,761
1,535,169,328
921,924,518
613,244,810
82,964,164
82,964,164
1,618,133,492
. 1,004,888,682
613,244,810
1,536,611,207
920,822,931
615,788,276
93,688,682
93,688,682
1,630,299,889
1,014,511,613
615,788,276
1,538,216,009
918,225,746
619,990,263
103,342,939
103,342,939
1,641,558,948
1,021,568,685
619,990,263
1,530,087,479
914,132,361
615,955,118
113,593,907
113,593,907
1,643,681,386
1,027,726,268
615,955,118
1,528,297,418
918,236,856
610,060,562
121,061,326
121,061,326
1,649,358,744
1,039,298,182
610,060,562
1,535,520,290
918,522,229
616,998,061
123,323,861
123,323,861
1,658,844,151
1,041,846,090
616,998,061
1,541,657,483
922,339,642
619,317,841
112,224,324
112,224,324
1,653,881,807
1,034,563,966
619,317,841
184
REPORT ON T H E EINANCES.
N o . 2 3 . — E S T I M A T E D STOCK OF GOLD COIN AND BULLION, THE AMOUNT IN THE
T R E A S U R Y , AND T H E AMOUNT I N CIRCULATION AT THE E N D OF EACH MONTH,
FROM JANUARY, 1904—Continued.
Month.
1909—Januarj^:
Estimated stock.
In theTreasury.
In circulation
February:
Estimated stock.
In theTreasury.
In circulation
March:
Estimated stock.
In theTreasury.
In circulation—
April:
Estimated stock.
In the Treasury.
In circulation
May:
,
Estimated stock.
In theTreasury.
In circulation
June:
Estimated stock.
In the Treasury..
In circulation
July:
Estimated stock.
In the Treasury.
In circulation
August:
Estimated stock.
In theTreasury.
In circulation
September:
Estimated stock.
In the Treasury.
Ih circulation
October:
Estimated stock.
In the Treasury.
In circulation
November:
Estimated stock.
In the Treasury.
In circulation
December:
Estimated stock.
In theTreasury.
In circulation
1910—Januarj^:
Estimated stock.
In theTreasury.
In circulation. - . .
February:
Estimated stock.
In theTreasury.
In circulation
March:
Estimated stock.
In the Treasury.
In circulation
April:
Estimated stock.
In the Treasury.
In circulation
May:
Estimated stock.
In theTreasury.
In circulation
June:
Estimated stock.
In theTreasury.
In circulation
Gold com.
Gold bullion.
Total.
$1,538,476,008
- 932,531,108
,
605,944,900
$110,553,295
110,553,295
$1,649,029,303
1,043,084,403
605,944,900
1,543,640,861
933,661,502
609,988,359
113,075)248
113,075,248
1,656,725,109
1,046,736,750
609,988,359
1,531,914,472
923,621,813
608,292,659
113,507,584
113,507,584
1,645,422,056
1,037,129,397
608,292,659
1,557,115,972
947,826,635
609,289,337
92,373,570
92,373,570
1,649,489,542
1,040,200,205
609,289,337
1,576,806,675
971,562,999
605,243,676
68,094,058
68,094,058
1,644,900,733
1,039,657,057
605,243,676
1,574,906,904
975,569,206
599,337,698
67,135,095
67,135,095
1,642,041,999
1,042,704,301
599,337,698
1,563,453,111
966,646,676
596,806,435
74,358,016
74,358,016
1,637,811,127
1,041,004,692
596,806,435
1,556,714,542
968,875,785
587,838,757
79,781,241
79,781,241
•1,636,495,783
1,048,657,026
•587,838,757
1,563,011,877
964,568,877
598,443,000
83,821,624
83,821,624
1,646,833,501
1,048;390,501
598,443,000
1,561,651,476
962,878,301
598,773,175
87,002,655
87,062,655
1,648,714,131
1,049,940,956
598,773,175
1,551,702,508
947,741,192
603,961,316
93,203,715
93,203,715
1,644,906,223
1,040,944,907
603,961,316
1,541,100,375
934,887,962
606,212,413
97,008,446
97,008,446
1,638,108,821
1,031,896,408
606,212,413
1,540,260,782
936,746,130
603,514,652
99,702,013
99,702,013
1,639,962,795
1,036,448,143
603,514,652
1,541,073,698
943,174,760
597,798,938
101,110,148
101,110,148
1,642,083,846
1,044,284,908
597,798,938
1,544,213,200
950,127,482
594,085,718
104,649,952
104,649,952
1,648,863,152
1,054,777,434
594,085,718
1,515,679,850
923,865,142
591,814,708
104,842,241
104,842,241
1,620,522,091
1,028,707,383
591,814,708
1,525,000,144
930,045,336
594,954,808
102,428,170
102,428,170
1,627,428.314
1,032,473,506
594,954,808
1,531,074,997
940,197,004
590,877,993
104,968,481
104,968,481
1,636,043,478
1,045,165,485
590,877,993
185
TEEASUREB.'
N o . 2 4 . — E S T I M A T E D STOCK OF SILVER COIN, THE AMOUNT I N THE T R E A S U R Y , AND
THE AMOUNT I N CIRCULATION AT THE E N D OF EACH MONTH, FROM JANUARY, 1904;
ALSO SILVER O T H E R T H A N STOCK H E L D I N THE T R E A S U R Y .
' Month.
1904—January:
Estimated stock..
In the Treasury..
In circulation
February:
Estimated stock..
I n t h e Treasury..
Incirculation
March:
Estimated stock..
In the Treasury..
In circulation
April:
Estimated stock..
In the Treasury..
In circulation
May:
Estimated stock.
In the Treasury..
In circulation
June:
Esthnated stock..
In the Treasury..
In circulation
July:
Estimated stock.,
In the Treasury. :
Incirculation
August:
Estimated stock.
In the Treasury..
In circulation
September:
Estimated stock.
In the Treasury..
In chculation
October:
' Estimated stock.
In the Treasury..
In circulation
November:
Estimated stock.
In the Treasury..
In circulation
December:
Estimated stock.
In the Treasury..
Incirculation....
1905—January:
Estimated stock.
In the Treasury..
In circulation
February:
Estimated stock.
In the Treasury..
In circulation
March:
Estimated stock.
In the Treasury..
In circulation
April:
Estimated stock.
In the Treasury..
In circulation
Estimated stock.
In the Treasury..
In circulation
June:
Estimated stock.
In the Treasury..
Incirculation
July:
Estimated stock.
In the Treasury..
In chculation
August:
Estimated stock.
In the Treasury..
Incirculation
Standard
dollars.
Subsidiary
silver.
$555,449,127
477,485,527
77,963,600
$105,903,449
10,433,124
95,470,325
$661,352,576
487,918,651
173,433,925
$16,895,364
557,198,489
480,798,298
76,400,191
106,903,896
11,417,518
95,486,378
664, 102,385
492, 215,816
171,886,569
16,469,043
557,559,484
482,850,303
74,709,181
106,633,724
11,545,932
95,087,792
664, 193,208
494, 396,235
169, 796,973
16,087,404
558,579,393
484,936,404
73,642,989
106,672,887
11,852,585
94,820,302
665,252,280
496,788,989
168,463,291
15,908,002
559,422,410
486,816,683
72,605,727
106,614,930
12,035,831
94,579,099
666,037,340
498,852,514
167, 184,826
15,307,748
559,891,605
488,577,779
71,313,826
107,062,02;i
11,533,678
95,528,343
666,953,626
500, 111,457
166,842,169
15,380,998
560,244,263
489,662,702
70,581,561
106,503,340
11,926,290
94,577,050
666, 747,603
501,588,992
165, 158,611
14,876,180
559,495,170
487,987,441
71,507,729
108,458,972
12,464,060
95,994,732
667, 954,142
500, 451,501
167,502,461
14,330,134
558,851,028
482,850,778
76,000,250
110,300,314
11,460,297
98,840,017
151,342
494, 311,075
174,840,267
14,149,579
558,^677,161
479,234,038
79,443,123
110,993,172
10,585,044
100,408,128
669, 670,333
489,819,082
179,851,251
558,434,892
477,912,010
80,522,882
111,694,407
9,808,023
101,886,384
670, 129,299
487, 720,033
182,409,266
14,096,314
558,484,968
478,445,573
80,039,395
112,171,494
9,280,167
102,891,327
670,656,462
487, 725,740
182,930,722
13,930,685
558,342,589
482,180,839
76,161,750
112,642,674
11,563,194
101,079,480
670,985,263
493,744,033
177,241,230
13,992,413
558,393,881
484,064,162
74,329,719
113,162,870
12,947,985
100,214,885
671,556,751
497,012,147
174,544,604
13,649,991
558,221,561
484,389,788
73,831,773
113,670,338
13,915,168
99,755,170
671,891,899
498, 304,956
173,586,943
13,424,307
558,228,412
484,586,657
73,641,755
114,062,988
13,995,343
100,067,645
672, 291,400
498,582,000
173, 709,400
13,600,500
558,678,556
485,060,912
73,617,644
113,977,467
13,503,978
100,473,489
672, 656,023
498,564,890
174, 091,133
13,359,373
558,815,865
485,231,529
73,584,336
114,824,189'
13,386,482
101,437,707
673, 640,054
498, 618, Oil
175,022,043
12,710,588
559,039,217
485,452,319
73,586,898
114,507,936
13,070,177
101,437,759
673, 547,153
498,522,496
175, 024,657
12,486,594
559,220,217
483,638,302
75,581,915
114,484,171
11,664,150
102,820,021
673, 704,388
495, 302,452
178, 401,936
12,364,738
Other silver
items held.
186
REPORT ON T H E EINANCES.
N o . 24:.—ESTIMATED STOCK OF SILVER COIN, THE AMOUNT I N THE T R E A S U R Y , AND
THE AMOUNT I N CIRCULATION AT THE E N D OF EACH MONTH, PROM JANUARY, 1904;
ALSO SILVER O T H E R T H A N STOCK H E L D IN THE T R E A S U R Y — C o n t i n u e d .
Month.
1905—September:
Estimated stock
tn. the Treasury.
In circulation...
October:
Estimated stock
In the Treasury.
In chculation...
November:
Estimated stock
In the Treasury.
In chculation...
December:
Estimated stock
I n t h e Treasury.
In chculation...
1906—January:
Estimated stock
In the Treasury.
In chculation...
February:
Estimated stock
In the Treasury.
In circulation...
March:
Estimated stock
In the Treasury.
In chculation...
April:
Estimated stock
I n t h e Treasury.
In chculation...
May:
Estimated stock
I n t h e Treasury.
In chculation...
June:
Estimated stock
I n t h e Treasury.
In circulation...
July:
Estimated stock
I n t h e Treasury.
In circulation...
August:
Estimated stock
I n t h e Treasury.
In chculation...
September:
Estimated stock
In the Treasury.
In circulation...
October:
Estimated stock
I n t h e Treasury.
In chculation...
November:
Estimated stock
I n t h e Treasury.
In circulation...
December:
Estimated stock
In the Treasury.
In circulation...
1907—Januai'y:
Estimated stock.
I n t h e Treasmy.
In chculation...
February:
Estimated stock.
In the Treasury.
In chculation...
Mai'ch:
Estimated stock,
In the Treasury.
In chculation...
April:
Estimated stock.
I n t h e Treasmy.
In chculation...
Standard
dollars.
Subsidiary
silver.
$559,433,865
479,996,964
79,436,901
$115,246,222
9,706,256
105,539,966
$674,680,087
489,703,220
1$4,976,867
559,607,865
477,785,554
81,822,311
115,554,205
8,396,273
107,157,932
675,162,070
486,181,827
188,980,243
559,750,865
476.424.637
83,326,228
116,385,553
7,609,174
108,776,379
676,136,418
484,033,811
192,102,607
559,898,865
476.162.638
83,736,227
116,990,855
6,961,490
110,029,365
676,889,720
483,124,128
193,765,592
560,142,865
479,725,320
80,417,545
117,111,381
9,521,847
107,589,534
677,254,246
489,247,167
188,007,079
560,259,865
480,896,099
79,363,766
117,168,956
9,787,503
107,381,453
677,428,821
490.683.602
186,745,219
560,434,865
478,723,429
81,711,436
116,763,582
7,274,243
109,489,339
677,198,447
4;85,997,672
191,200,775
560,567,865
480,143,809
80,424,056
116,919,774
7,425,109
109,494,665
677,487,639
487,568,918
189,918,721
560,724,865
482,122,730
78,602,135
116,940,192
7,045,873
109,894,319
677,665,057
489.168.603
188,496,454
560,865,530
483,864,162
77,001,368
118,224,920
6,595,416
111,629,504
679,090,450
490,459,578
188,630,872
^ 561,018,855
483,903,200
77,115,655
117,802,471
5,826,342
111, 976,129
678,821,326
489,729,542
189,091,784
561,121,855
482,183,246
78,938,609
118,808,475
5,408,943
113,399,532
679,930,330
487,592,189
192,338,141
561,229,855
479,567,148
81,662,707
120,056,795
4,055,285
116,001,510
681,286,650
483,622;433
197,664,217
561,339,530
477,733,062
83,606,468
123,785,299
3,506,651
120,278,648
685,124,829
481,239,713
203,885,116
561,424,530
477,212,611
84,211,919
126,154,782
3,893,072
122,261,710
687,579,312
481,105,683
206,473,629
561,635,530
476,257,695
85,377,835
127,841,368
3,720,430
124,120,938
689,476,898
479,978,125
209,498,773
561,763,530
478,590,490
83,173,040
127,474,478
7,066,315
120,408,163
689,238,008
485,656,805
203,581,203
561,866,530
478,948,749
82,917,781
128,134,441
7,361,332
120,773,109
690,000,971
486,310,081
203,690,890
561,969,530
479,045,824
82,923,706
128,435,053
7,375,520
121,059,533
690,404,583
486,421,344
203,983,239
562,069,530
479,541,226
82,528,304
129,769,489
8,419,788
121,349,701
691,839,019
487,961,014
203,878,005
Other silver
items held.
187
TREASURER.
No.
2 4 . — E S T I M A T E D STOCK OF SILVER COIN, THE AMOUNT IN THE TREASURY, AND
THE AMOUNT IN CIRCULATION AT THE E N D OF EACH MONTH, FROM JANUARY,
1904;
ALSO SILVER O T H E R T H A N STOCK H E L D IN THE TREASURY—Continued.
Month,
1907—May:
Estimated stock.
In the Treasmy.
In chculation...
June:
Estimated stock.
In the Treasmy.
In chculation...
July:
Estimated stock.
In the Treasmy.
In chculation...
August:
Estimated stock.
In the Treasmy.
In chculation...
September:
Esthnated stock.
In the Treasmy.
In chculation...
October:
Estimated stock.
In the Treasmy.
In chculation...
November:
Estimated stock.
In the Treasmy.
In chculation...
December:
Estimated stock.
In the Treasury.
In chculation...
1908—January:
Esthnated stock.
In the Treasmy.
In chculation...
February:
Estimated stock,
I n t h e Treasury.
In circulation...
March:
Estimated stock,
In the Treasmy.
In chculation...
April:
Esthnated stock.
I n t h e Treasmy.
In chculation...
May:
Esthnated stock.
I n t h e Treasury.
In chculation...
June:
Estimated stock,
. In the Treasury.
In chculation...
July:
Estimated stock
In the Treasmy.
In chculation...
August:
Estimated stock
In the Treasury.
In chculation...
September:
Estimated stock.
In the Treasury.
Incirculation...
October:
Estimated stock
In the Treasury.
In chculation...
November:
Estimated stock
In the Treasury.
Incirculation...
Standard
dollars.
Subsidiary
silver.
$562,173,530
480,089,588
82,083,942
$130,779,018
9,052,491
121,726,527
952,548
142,079
203, 810,469
$8,852,565
562,261,982
480,551,538
81,710,444
130,452,218
8,674,817
121,777,401
692, 714,200
489, 226,355
203, 487,845
10,028,075
562,360,530
481,104,863
81,255,667
130,836,567
8,587,949
122,248,618
693, 197,097
489, 692,812
203, 504,285
10,410,249
562,464,530
480,350,162
82,114,368
131,504,478
8,385,569
123,118,909
693, 969,008
488, 735,731
205, 233,277
10,260,408
562,544,530
477,786,364
84,758,166
132,799,079
7,812,842
124,986,237
695, 343,609
485, 599,206
209, 744,403
9,374,258
562,636,982
473,814,023
88,822,959
134,122,602
6,661,373
127,461,229
696, 759,584
480, 475,396
216, 284,188
8,925,446
562,703,982
471,724,433
90,979,549
136,201,145
3,221,533
132,979,612
905,127
474, 945,966
223, 959,161
8,652,090
562,770,982
471,458,554
91,312,428
139,630,994
•4,650,135
134,980,859
702, 401,976
476, 108,689
226, 293,287
8,534,984
562,849,982
473,292,890
89,557,092
141,517,793
10,816,738
130,701,055
704, 367,775
484, 109,628
220, 258,147
9,715,900
562,930,982
476,391,757
86,539,225
143,464,623
16,075,711
127,388,912
706; 395,605
492, 467,468
213, 928,137
10,264,137
563,009,982
479,412,996
83,596,986
144,486,463
18,452,313
126,034,150
707, 496,445
497, 865,309
631,136
11,305,261
563,097,982
482,347,588
80,750,394
144,809,002
20,267,842
124,541,160
707, 906,984
502, 615,430
205, 291,554
11,128,435
563,179,982
485,076,651
78,103,331
143,538,263
22,155,411
121,382,852
706, 718,245
507, 232,062
199, 486,183
10,829,470
563,277,812
486,949,155
76,328,657
147,355,783
23,177,'618
124,178,165
710, 633,595
510, 126,773
200, 506,822
11,078,247
563,357,982
488,172,848
75,185,134
147,005,385
24,222,649
122,782,736
710, 363,367
512, 395,497
197, 967,870
10,642,882
563,413,982
488,522,887
74,891,095
147,779,837
23,774,263
124,005,574
711, 193,819
"512,297,150
,896,669
198,
10,432,468
563,493,982
488,409,835
75,084,147
145,770,090
21,746,013
124,024,077
709, 264,072
510, 155,848
.108,224
199,
10,156,193
563,554,812
488,814,567
74) 740,245
150,935,970
19,272,269
131,663,701
714, 490,782
.
508;
,086,836
•206,
,403,946
9,903,429
563,610,812
488,379,119
75,213,693
151,173,805
17,913,465
133,260,340
714, 784,617
506, 310,584
208, 474,033
'9,'720," 695
Other silver
items held.
188
REPORT ON T H E FINANCES.
N o . 2 4 . — E S T I M A T E D STOCK OP SILVER COIN, THE AMOUNT I N THE T R E A S U R Y , AND
THE AMOUNT IN CIRCULATION AT THE E N D OF EACH MONTH, FROM JANUARY, 1904;
ALSO SILVER O T H E R T H A N STOCK H E L D IN THE TREASURY—^Continued.
Month.
1908—December:
Estimated stock.
In the Treasur.y.
In circulation...
1909—January:
Esthnated stock.
In the Treasury.
In circulation...
February:
Estimated stock.
In the Treasury.
In circulation...
March:
Estimated stock.
In the Treasury.
In circulation...
April:
Estimated stock.
In the Treasury.
Incirculation...
May:
Estimated stock.
In the Treasury.
In circulation...
June:
Estimated stock.
In the Treasury.
Incirculation...
July:
Estimated stock.
In the Treasury.
In circulation...
August:
Estimated stock.
In theTreasury.
Incirculation...
September:
Estimated stock.
In the Treasury.
In circulation..-.
October:
Estimated stock.
In the Treasury.
Incirculation...
November:
Estimated stock.
In the Treasury.
Incirculation...
December:
Estimated stock.
In the Treasury.
In circulation...
1910—January:
Estimated stock.
In the Treasury.
In circulation...
February:
Estimated stock.
In the Treasury.
Incirculation...
March:
Estimated stock,
In the-Treasury.
Incirculation...
April:
Estimated stock.
In the Treasury.
In circulation...
May:
Estimated stock.
In theTreasury.
In circulation...
June:
Estimated stock
In the Treasury.
In circulation...
Standard
dollars.
Subsidiary
silver.
Total.
$563,663,812
491,220,219
72,443,593
$153,226,112
18,162,747
135,063,365
$716, 889,924
509: 382,966
207: 506,958
563,734,812
490,964,137
72,770,675
154,387,552
22,899,998
131,487,554
718, 122,364
513 864,135
204; 258,229
563,791,812
491,632,913
72.158.899
155,622,140
24,855,000
130,767,140
719, 413,952
516; 487,913
202, 926,039
563,861,812
492,179,297
71,682,515
153,845,035
25,957,101
127,887,934
717 706,847
518; 136,398
199, 570,449
563,930; 812
492,700,994
71,229,818
154,608,399
26,899,135
127,709,264
718, 539,211
519, 600,129
198, 939,082
563,985,812
493,245,586
70,740, 226
158,587,115
27,250,163
131,336,952
722, 572,927
520: 495,749
202; 077,178
564,061,719
492,073,819
71.987.900
159,408,546
27,076,748
132,331,798
723, 470,265
519, 150,567
204; 319,698
564,090,812
492,203,124
71,887,688
159,428,122
26,571,114
132,857,008
518,934
• 723,
518, 774,238
.204; 744,696
564,139,812
491,582,831
72,556,981
155,766,307
25,270,932
130,495,375
719, 906,119
516, 853,763
203: 052,356
564,188,812
490,610,083
73,578,729
160,026,753
21,577,881
138,448,872
724, 215,565
512: 187,964
212: 027,601
564,242,719
489,858,862
74,383,857
160,276,491
17,952,453
142,324,038
724, 519,210
507 811,315
210; 707,895
564,294,719
, 489,696,312
74,598,407
161,304,633
15,963,589
145,341,044
725 599,352
505: 659,901
219' 939,451
564, 334,719
489,571,644
74,763,075
162,801,137
15,832,549'
146,968,588:
727 135,856
505: 404,193
221 731,663
564,382,719
490,923,733
73,458,986
163,336,105
19,703,483
143,632,622
727 718,824
510; 627,216
217. 091,608
564,426,719
491,625,374
72,801,345
163,815,886
21,389,008
142,426,878
728, 242,605
513 014,382
215; 228,223
564,476,719
491,859,453
72,617,266
161,343,971
21,384,17i
139,959,800
725 820,690
513; 243,624
212; 577,066
564,519,719
491,852,354
72,667,365
161,472,306
21,594,391
139,877,915
725 992,025
513; 446,745
212, 545,280
564,565,719
492,132,945
72,',432,774
164,753,394
21,367,285
143,386,109
729, 319,113
513, 500,230
215. 818,883
564,605,508
492,172,994
72,432,514
155,158,748
19,575,017
135,583,731
719, 764,256
511 748,011
208; 016,245
Other silver
items held.
189
TBEASUBER.
N o . 2 5 . — ^ U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , AND NATIONAL-BANK N O T E S
OUTSTANDING, IN THE T R E A S U R Y , AND I N CIRCULATION AT THE E N D OP EACH
MONTH, FROM JANUARY, 1904.
Month.
1904—January:
Outstanding
In the Treasury..
In circulation
February:
Outstanding
In the Treasurj'^..
;
Incirculation
March:
Outstanding
In the Treasury..
I n circulation
April:
Outstanding
In the Treasur J''..
Incirculation
May:
Outstanding
I n t h e Treasury..
In circulation
June:
Outstanding
I n t h e Treasury..
In circulation
July:
Outstanding
In the Treasury..
In circulation....
August:
Outstanding
In the Treasury..
In circulation
September:
Outstanding
In th6 Treasury..
In circulation
October:
Outstanding
In the Treasury..
In circulation
November:
Outstanding
I n t h e Treasury..
In circulation.....
December:
Outstanding
I n t h e Trea.sury..
I n circulation
1905—January:
Outstanding
I n t h e Treasury..
In circulation
February:
Outstanding.....
In the Treasury..
Incirculation....
March:
Outstanding
In the Treasury..
In circulation
April:
Outstanding.....
In the Treasury..
In circulation
May:
Outstanding
In the Treasury.,
In circulation
June:
Outstanding
, In the Treasury.
In circulation
July:
Outstanding
In the Treasury.
In circulation...
August:
Outstanding....
In the Treasury.
Incirculation...
United
States notes.
Treasury
notes.
• Nationalbank notes.
$346,681,016
8,988,196
337,692,820
$15,322,000
88,327
15,233,673
$426,857,627
18,654,036
408,203,591
$788,860,643
27,730,559
761,130,084
346,681,016
9,368,475
337,312,541
14,846,000
65,067
14,780,933
430,324,310
14,040,247
416,284,063
791,851,326
23,473,789
768,377,537
346,681,016
5,273,146
341,407,870
14,372,000
57,324
14,314,676
434,^09,942
10,116,596
424,793,346
795,962,958
15,447,066
780,515,892
346,681,016
6,903,945
'339,777,071
13,987,000
133,805
13,853,195
437,080,573
12,715,566
424,365,007
797,748,589
19.753,316
777,995,273
346,681,016
9,376,636
337,304,380
' 13,473,000
98,576
13,374,424
445,988,565
14,257,581
431,730,984
806,142,581
23,732,793
782,409,788
346,681,016
12,921,-591
333,759,425
12,978,000
75,943
12,902,057
449,235,095
16,207,259
433,027,836
808,894,111
" 29,204,793
779,689,318
346,681.016
15,001; 782
331,679,234
12,653,000
102,234
12,550,766
450,206,888
17,505,015
432,701,873
809,540,904
.32,609,031
776,931,873
346,681,016
13,869,797
332,811,219
12,225,000
56,813
12,168,187
452,516,773
18,623,087
433,893,686
811,422,789
32,549,697
778,873,092
346,681,016
9,756;258
336,924,758
11,966,000
105,901
11,860,099
456,079,408
14,051,921
442,027; 487
814,726,424
23,914,080
790,812,344
346,681,016
4,548,595
342,132,421
11,613.000
6i;il3
11,551,887
457,281,500
12,041,082
445,240,418
815,575,516
16,650,790
798,924,726
346,681,016
4,057,379
342,623,637
11,331,000
44,070
11,286,930
460,679,075
12,298,003
448,381,072
818,691.091
16,399,452
802,291,639
346,681,016
4,393,389
342,287,627
11,019,000
78,946
10,940,054
464,794,156
15,636,878.
449,157,278
•822,494,172
20,109,213
802,384,959
346,681,016
12,217,996
334,463,020
10,702,000
107,207
10,594,793
467,422,853
20,884,048
446,538,205
824.805,869"
33,209,851
791,596,018
346,681,016
14,061,633
332,619,383
10,330,000
46,417
10,283,583
469,203,840
16,107,136
453,096,704
826,214,856
30,215,186
795,999,670
346,681,016
14,616,143
332,064,873
10,111,000
63.224
10,047; 776
475,948,945
12,128,995
463,819,950
832,740,961
26,808,362
805,932,599
346,681,016
15,008,354
331,672,662
9,865,000
42,866
9,822,134
481,244,945
12,854,398
468,390,547
346,681,016
14,396,323
332,284,693
9,617,000
33,709
9,583,291
488,327,516
13,968,127
474,359,389
844,625,532
28,398,159
816,227,373
346,681,016
14,260,319
332,420,697
9,413,000
140,982
9,272,018
495,719,806
• 15,690,957
480,028,849
851,813,822
30,092,258
821,721,564
346,681,016
15,249,241
331,431,775
9,165,000
41,425
9,123,575
503,971,395
17,222,511
486,748,884
859,817,411
32,513,177
827,304,234
346,681,016
13,141,905
333,539, 111
8,984,000
63,747
8,920,253
512,220,367
20,100,441
492,119,926
867,885,383
33,306,093
834,579,290
Total.
.
837,790,961
27,905,618
809,885,343
190
REPORT ON T H E EINANCES.
N o . 2 5 . — ^ U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , AND NATIONAL-BANK N O T E S
OUTSTANDING, IN T H E T R E A S U R Y , AND I N CIRCULATION AT THE E N D OF EACH
MONTH, FROM JANUARY, 1904—Continued.
Month.
1905—September:
Outstanding...
In the Treasury
In circulation..
October:
Outstanding...
In the Treasury
In circulation..
November:
Outstanding...
In the Treasury
In circulation..
December:
Outstanding...
In the Treasury
Incirculation..
1906—January:
Outstanding...
In the Treasury
In circulation..
February:
Outstanding...
In the Treasury
Incirculation..
March:
Outstanding...
In the Treasury
In circulation..
April:
Outstanding...
In the Treasury
In circulation..
May:
Outstanding...
In the Treasury
In circulation..
June:
Outstanding...
In the Treasury
In circulation..
July:
Outstanding
In the Treasury
Incirculation..
August:
Outstanding
In the Treasury
In circulation..
September:
Outstanding
In the Treasury
In circulation..
October:
Outstanding...
In the ']?reasury
Incirculation..
November:
OutstandingIn the Treasury
Incirculation..
December:
Outstanding
In the Treasury,
Incirculation..,
1907—January:
Outstanding
In the Treasury.
In circulation...
February:
Outstanding
In the Treasury.
In chculation...
March:
Outstanding
In the Treasury.
In chculation...
April:
Outstanding
In the Treasury.
Incirculation,..
United
States notes.
Treasury
notes.
Nationalbank notes.
$346, 681,016
10, 342.090
336, 338,926
$8,795,000
30,142
8,764,858
$516,352,240
16,101,921
500,250,319
346, 681,016
573,536
340, 107,480
8,621,000
26,622
8,594,378
524,408,249
12,194,,985
512,213,264
346, 681,016
3, 484,466
343, 196,550
8,478,000
42. 278
8,435,722
533,329,258
12,088,485
521,240,773
346, 681,016
3, 418,925
343, 262.091
8,330,000
55,116
8,274,884
540,914,347
13,740,872
527,173,475
346, 681,016
8, 987,735
337, 693,281
8,086,000
28,721
8,057,279
543,230,080
18,740,257
524,489,823
346, 681,016
10, 594,139
336, 086,877
7,969,000
56,545
7,912,455
550,803,895
13,588,277
537,215,618
346, 681,016
9, 156,935
524,081
337,
681,016
346, 550,695
130,321
337,
346, 681,016
11, 128,123
335, 552,893
7,794,000
25,905
7,768,095
554,666,967
13,589,751
541,077,216
7,661,000
20,961
7,640,039
556,646,282
11,880,323
544,765,959
7,504,000
26,782
7,477,218
559,129,660
13,869,358
545,260 302
346, 681,016
10, 740,796
335, 940,220
7,386,000
48,680
7,337,320
561,112,360
13,111,122
548,001,238
346, 681,016
10, 221,624
336, 459,392
7,232,000
17,004
7,214,996
561,481,045
12,983,507
548,497,538
346, 681,016
7, 592,170
338, 728,846
7,129,000
16,748
7,112,252
569,852,303
10,556,637
559,295,666
346, 681,016
3, 822,418
342, 858,598
7,021,000
22,438
6,998,562
573,903,108
9,755,104
564,148,004
346, 681,016
2,, 164,867
344, 516,149
6,912,000
17,482
6,894,518
583,171,985
8,649,611
574,522,374
346, 681,016
3, 420,694
343, 260,322
6,827,000
15,424
6,811,576
593,380,549
9,916,945
583,463,604
346, 681,016
4, 772,663
341, 908,353
6,616,000
15,171
6,600,829
596,162,469
11,105,884
585,056,585
346, 681,016
8; 121,292
338, 559,724
6,488,000
14,460
6,473,540
596,197,569
17,950,662
578,246,907
346, 681,016
7, 753.498
338, 927; 518
6,385,000
17,909
6,367,091
596.343,022
13; 584,999
582,758,023
346, 681,016
4, 934,562
341, 746,454
6,282,000
10,259
6,271,741
597,212,063
10,388,420
586,823,643
346, 681,016
4, 701,774
341, 979,242
6,182.000
13;242
6^168,758
599,913,840
11,516,291
588,397,549
191
TREASURER.
N o . 2 5 . — U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , AND NATIONAL-BANK N O T E S
OUTSTANDING, I N T H E T R E A S U R Y , AND I N CIRCULATION AT T H E E N D OF EACH
MONTH, PROM JANUARY, 1904—Continued.
Month.
1907—May:
Outstanding
In the Treasury.
In "Chculation...
June:
Outstanding
In theTreasury.
In chculation...
July:
Outstanding..-,
In the Treasury.
In chculation...
August:
Outstanding
In the Treasury.
In circulation...
September:
Outstanding
In the Treasury.
In chculation...
October:
Outstanding
In the Treasury.
In circulation...
November:
Outstanding
In the Treasury.
In circulation...
December: «
Outstanding
In the Treasury.
In circulation...
1908—January:
Outstanding
In the Treasury.
In circulation...
February:
Outstanding
In the Treasury.
In chculation...
March:
Outstanding
In the Treasury.
In circulation...
April:
Outstanding
In the Treasury.
In chculation...
May:
Outstanding—
In the Treasury.
In chculation...
June:
Outstanding
In the Treasury.
In chculation...
July:
Outstanding
In the Treasury.
In chculation...
August:
Outstanding....
In the Treasury.
In circulation...
September:
Outstanding
In the Treasury
In chculation..,
October:
Outstanding
In the Treasury
In chculation..,
November:
Outstandhig..:.
In the Treasury
In chculation..
December:
Outstanding —
In the Treasury
In chculation..,
• United
States notes.
Treasury
notes.
Nationalbank notes.
$346,681
3,580:
343, lOO;
$6,078,000
11,220
6,066,780
$601,940,550
11,910,342
590,030,208
$954,699,566
15,502,385
939,197,181
346,681
4,4io:
342,270;
5,988,000
12,465
5,975,535
603,788,690
14,546,565
589,242,125
956,457,706
18,969,991
937,487,715
346,681
5,576:
341,104:
5,891,000
9,950
5,881,050
603,395,886
16,-876,682
586,519,204
955,967,902
22,463,178
933,504,724
346,681
4,179:
342,501'
5,787,000
9,039
5,777,961
604,056,321
17,135,485
586,920,836
956,524,337
21,323,768
935,200,569
346,681
3,555:
343,125:
5,707,000
6,652
5,700,348
603,987,114
19,711,565
584,275,549
956,375,130
23,273,608,
933,101,522
346,681
3,426;
343,254.
5,613,000
11,074
5,601,926
609,980,466
14,856,600
595,123,866
962,274,482
18,294,537
943,979,945
346,681
1/"
344,682:
5,546,000
8,933
5,537,067
656,218,196
7,323,079
648,895,117
1,008,445,212
9,330,071
999,115,141
346,681
1,405:
345,275:
5,479,000
9,944
5,469,056
690,130,895
11,096,231
679,034,664
1,042,290,911
12,511,769
1,029,779,142
346,681
7,509
339,171
5,400,000
7,516
5,392,484
695,402,762
30,401,444
665,001,318
1,047,483,778
37,918,321
1,009,565,457
346,681
9,627
337,053;
5', 319,000
10,499
5,308,501
695,674,519
30,955,156
664,719,363
1,047,674,535
40,593,356
1,007,081,179
346,681
13,167:
333,513,
5,240,000
14,256
5,225,744
696,407,355
40,581,561
655,825,794
1,048,328,371
53,763,524
994,564,847
346,681
10,449:
336,231'
5,152,000
12,735
5,139,265
697,645,698
49,767,343
647,878,355
1,049,478,714
60,229,515
989,249,199
346,681
11,488:
335,192:
5,070,000
16,101
5,053,899
698,449,517
60,997,318
637,452,199
1,050,200,533
72,502,161
977,698,372
346,681,
7,284:
339,396:
4,982,000
18,470
4,963,530
698,333,917 1,049,996,933
66,685,237
73,988,401
976,008,532
631, 648,680
346,681
5,645:
241,035:
4,903,000
13,211
4,889,789
692,088,991
64,772,332
627,316,659
1,043,673.007
70,431; 177
973,241,830
346,681
5,369:
341,311.
4,847,000
9,582
4,837,418
685,326,108
54,692,308
630,633,800
1,036,854,124
60,070,980
976,783,144
346,681
5,490:
341, i9o:
4,767,000
16,191
4,750,809
675,612,327
39,829,288
635,783,039
1,027,060,343
45,336,030
981,724,313
346,681
342,994:
4,705,000
13,775
4,691,225
665,844,192
22,642,191
643,202,001
1,017,230,208
26,342,926
990,887,282
346,681
3,043
343,637^
4,649,000
10,143
4,638,857
667,178,177
17^752,117
649,426,060
1,018,508,193
20,806,093
997,702,100
346,681
10,258;
336,422,
4,596,000
6,811
4,589,189
677,068,165
25,287,727
651,780,438
1,028,345,181
35,552,585
992,792,596
3
- - •
Total,
192
REPORT ON T H E EINANCES.
N o . 2 5 . — U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , AND NATIONAL-BANK N O T E S
OUTSTANDING, IN THE T R E A S U R Y , AND IN CIRCULATION AT THE E N D OF EACH
MONTH, FROM JANUARY, 1904—Continued.
Month.
1909—January:
Outstandhig...
I n the Treasury
In chculation..
February:
Outstanding
In the Treasury
In chculation..
March:
Outstanding
In the Treasury
In chculation..
April:
Outstanding
I n t h e Treasury
In chculation..
May:.
Outstanding
I n the Treasury
In chculation...
June:
Outstanding —
I n the Treasury
In chculation...
July:
Outstanding
I n the Treasury
In chculation..,
August:
Outstandiug
I n the Treasury
In circulation...
September:
Outstanding..I n the Treasury
In chculation...
October:
Outstanding
I n the Treasury
In chculation...
November:
Outstanding
I n the Treasury
In chculation...
Deceraber:
Outstanding —
I n the Treasury.
In chculation..,
1910—January:
Outstanding —
I n the Treasury.
In chculation..,
February:
Outstanding —
I n t h e Treasury.
In chculation...
March:
Outstanding
I n the Treasury.
In chculation...
April:
Outstanding
I n t h e Treasury.
In chculation...
May:
Outstanding
I n the Treasury.
In chculation...
June:
Outstanding
I n the Treasury.
In chculation...
United
States notes.
Treasury
notes.
Nationalb a n k notes.
$346,681
8,661
338;019:
$4,525,000
15,276
4,509,724
$676,673,092 $1,027,879,108
37,762,721
46,439,993
638,910,371
981,439,115
346,681,
10,922:
335,758;
4,468,000
15,336
4,452,664
678,285,600
30,686,733
647,598,867
1,029,434,616
41,624,579
987,810,037
346,681,
7,552'
339,128:
4,398,000
11,193
4,386,807
684,407,615
• 22,816,033
661,591,582
1,035,486.631
30,379; 395
1,005,107,236
346,681
5,902:
340,778:
4,329,000
8,481
4,320,519
687,408,227
25,263,392
662,144,835
1,038,418,243
31,174,624
1,007,243,619
346,681
7,158:
339,522:
4,274,000
8,812
4,265,188
688,183,115
25,425,734
662,757,381
1,039,138,131
32,592,755
1,006,545,376
346,681,
6,562:
340,118:
4,215,000
11,585
4,203,415
689,920,074
24,381,268
665,538,806
1,040,816,090
30,955,602
1,009,860,488
346,681,
7,752:
338,928;
4,169,000
12,879
4,156,121
695,354,164
27,406,977
667,947,187
1,046,204,180
35,172,438
1,011,031,742
3465 681,
6,905:
339,775:
4,120,000
12,725
4,107,275
698,845* 474
26,902,024
671,943,450
1,049,646,490
33,820,500
1,015,825,990
346,681,
4,278,
342,402,
4,071,000
7,165
4,063,835
702,807,459
23,641,951
679,165,508
1,053,559,475
27,928,040
1,025,631,435
346,681
4,501
342,179;
4,034,000
12,465
4,021,535
703,940,756
17,944,644
685,996,112
1,054,655,772
22,458,163
1,032,197,609
346,681
4,459:
342,221
3,982,000
4,530
3,977,470
707,433,457
17,709,371
689,724,086
1,058,096,473
22,173,168
1,035,923,305
346,681
7,814;
338,866,
3,942,000
8,162
3,933,838
710,354,253
23,240,419
687,113,834
1,060,977,269
31,063,3.34
1,029,913,935
346,681
8,402
338,278;
3,894,000
9,751
3,884,249
709,879,333
37,293,444
672,585,889
1,060,454,349
45,705,291
1,014,749,058
346,681
5,906
340,774;
3,850,000
20,286
3,829,714
710,022,868
30,426,739
679,596,129
1,060,553,884 .
36,353,447
1,024,200,437
346,681
5,86i:
340,8I9:
3,800,000
18,019
3,781,981
717,258,996
21,596,041
695,662,955
1,067,740,012
27,475,806
1,040,264,206
346,681
6,857:
339,823:
3,757,000
15,500
3,741,440
713,461,586
25,396,364
688,065,222
1,063,899,602
32,269,211
1,031,630,391
346,681,
6,835:
339,845:
3,711,000
10,797
3,700,203
712,242,841
29,373,061
682,869,780
1,062,634,857
36,219,371
1,026,415,486
346,681,
11,893:
334,787,
3,672,000
9,475
3,662,525
713,430,733
29,771,198
683,659,535
1,063,783,749
41,673,819
1,022,109,930
Total.
193
TREASURER.
N o . 2 6 . — G O L D CERTIFICATES AND SILVER CERTIFICATES OUTSTANDING, IN THE
T R E A S U R Y , AND IN CIRCULATION AT THE E N D OF EACH MONTH, FROM JANUARY, 1904.
Gold certificates.
1904—January:
Outstanding
In the Treasury
In circulation
February:
Outstanding
In the Treasury
In circulation
March:
Outstandmg
In the Treasury
In circulation
April:
Outstanding
In the Treasury
In circulation
May:
Outstanding
In the Treasury
• In circulation
June:
Outstanding
In the Treasury
In circulation
July:
Outstanding
In the" Treasury
In circulation
August:
Outstanding
In the Treasury
In circulation
September:
Outstanding
In the Treasury
In circulation
October:
Outstanding
In the Treasury
In circulation
November:
Outstanding
In the Treasury
In circulation
December:
Outstanding
In the Treasury
In circulation
1905—January:
Outstanding
In the Treasury
In circulation
February:
Outstanding
In the Treasury
In circulation
March:
Outstanding
In the Treasury
In circulation
April:
Outstanding
In the Treasury
In circulation
May:
Outstanding
In the Treasury
In circulation
June:
Outstandhig
In the Treasury
In chculation
July:
Outstandhig
In the Treasury
In chculation
August:
Outstanding
In the Treasury
In chculation
(35872°—FT 1910
$487,949,869
18,376,200
469,573,609
473,085,000
7,032,921
466,052,079
940,745,869
25,344,221
915,401,648
472,555,000
6,475,916
466,079,084
966,012,869
35,985,716
930,027,153
471,662,000
7,505,174
464,156,826
961,636,869
46,846,114
914,790,755
470,476,000
9,337,302
461,138,698
965,106,569
38,312,772
926,793,797
469,645,000
10,123,090
459,521,910
991,075,969
30,689,930
960,386,039
527,336,969
23,617,510
503,719,459
468,329,000
6,808,840
461,520,160
995,665,969
30,426,350
965,239,619
528,491,969
41,979,830
486,512,139
474,322,000
6,182,124
468,139,876
1,002,813,969
48,161,954
954,652,015
531,479,969
41,286,210
490,193,759
478,464,000
5,750,168
472,713,832
1,009,943,969
47,036,378
962,907,591
530,780,969
60,678,500
470,102,469
477.320,000
5;735,556
471,584,444
1,008,100,969
66,414,056
941,686,913
524,684,969
57,945,280
466,739,689
477,102,000
9,084,773
468,017,227
1,001,786,969
67,030,053
934,756,916 .
525,959,969
35,525,600
490,434,369
474,225,000
13,974,954
460,250,046
1,000,184.969
49,500,554
950,084,415
521.149.969
38,593,150
482,556,819
469,655,000
7:893.101
461,761,899
990,804.969
46,486,251
944,318,718
518,186,969
45,870,650
472,316,319
468,314,000
5,883,424
462,430,576
986,500,969
51,754,074
934,746,895
519,204,969
32,062,750
487,142,219
469,349,000
6,502,487
462,846,513
988,553,969
38,565,237
949,988,732
519,762,969
36,851,970
482,910,999
466,150,000
5,687,-897
460.462.103
985,912,969
42,539,867
943,373,102
517,789,969
32,579,220
485,210,749
465,265,000
10,400,292
454,864,708
983,054,969
42,979,512
940,075,457
518,411,969
24,974,090
493,437,879
13
467,660,869
18,311,300
449,349,569-
521,430,969
20,566,840
500,864,129
—
947,845,869
23,537,788
924,308,081
494,630,569
28,975,470
465,655,099
,
469,942,000
7,840,898
462.101.102
489,974,869
39,340,940
450,633,929
:.
$952,210,869
26,701,432
925,509,437
493,457,869
29,509,800
463,948,069
'.
$464,261,000
8,325,172
455,935,828
477,903,869
15,696,890
462,206,979
•.
Silver certificates.
466.150,000
7; 631,049
458,518,951
984,561,969
32,605,139
951,956,830
522,202,969
30,867,730
491,335,239
471,735,000
7,395,959
464,339,041
993,937,909
38,263,689
955,674,280
Total.
194
REPORT ON T H E EINANCES.
N o . 2 6 . — G O L D CERTIFICATES AND SILVER CERTIFICATES OUTSTANDING, IN THE
T R E A S U R Y , AND IN CIRCULATION AT THE E N D OF EACH MONTH, PROM JANUARY,
1904—Continued.
Month,
1905—September:
Outstanding...
In the Treasury
In chculation..
October:
Outstanding...
In the Treasury
In chculation..
November:
Outstanding...
In the Treasury
In circulation..
December:
Outstanding...
In the Treasury
In chculation..
1906—January:
Outstanding...
In the Treasury
In chculation..
February:
Outstanding...
In the Treasmy
In chculation..
March:
Outstanding...
In the Treasury
In circulation..
April:
Outstanding...
In the Treasury
In circulation..
May:
Outstanding...
In the Treasury
In circulation..
June:
Outstanding...
In the Treasury
In circulation..
July:
Outstanding...
In the Treasury
In chculation..
August:
Outstanding...
In the Treasury
In chculation..,
September:
Outstanding...
In the Treasury
In chculation..
October:
Outstanding...
In the Treasury
In circiilation.".
November:
Outstanding,..
In the Treasury
In circulation..,
December:
Outstanding...
In the Treasury
In circulation..,
1907—January:
Outstanding...
In the Treasury
In circulation..,
February:
Outstanding...
In the Treasury
In circulation..,
March:
Outstanding...
In the Treasury
In circulation..,
, April:
Outstanding...
In the Treasury
In circulation,.,
Gold certificates.
Silver certificates.
$520,047,969
48,451,990
471,595,979
$475,017,000
5,043,693469,973,307
$995,064,969
53,495,683
941,569,286
524,455,969
44,490,530
479,965,439
476,308,000
4,682,224
471,625,776
1,000,763,969
49,172,754
951,591,215
526,020,869
48,866,620
477;154,249
475,735,000
4,770,752
470,964,248
1,001,755,869
53,637,372
948,118,497
527,493,869
46,554,850
480,939,019
475,574,000
11,613,515
463,960,485
1,003,067,869
58,168,365
944,899,504
539,252,869
30,683,230
508,569,639
467,926,000
8,906,866
459,019,134
1,007,178,869
39,590,096
967,588,673
542,360,869
50,627,550
491,733,319
467,164,000
4,411,037
462,752,963
1,009,524,869
55,038,587
954,486,282
544,746,869
"54,916,250
489,830,619
469,729,000
4,618,305
465,110,695
1,014,475,869
59,534,555
954,941,314
550,691,869
49,995,480
500,696,389
472,644,000
5,069,530
467,574,470
1,023,335,869
55,065,010
968,270,859
557,599,869
43,796,080
513,803,789
474,640,000
4,976,414
469,663,586
1,032,239,869
48,772,494
983,467,375
560,059,869
43,498,020
516,561,849
477,473,000
5,952,946
471,520,054
1,037,532,869
49,450,966
988,081,903
563,984,869
34,671,490
529,313,379
477,637,000
6,844,312
470,792,688
1,041,621,869
41,515,802
1,000,106,067
569,739,869
49,773,980
519,965,889
481,392,000
8,099,009
473,292,991
1,051,131,869
' 57,872,989
993,258,880
581,740,869
39,882,940
541,857,929
478,562,000
4,223,690
474,338,310
1,060,302,869
44,106,630
1,016,196,239
619,617,869
43,659,450
575,958,419
477,368,000
3,948,551
473,419,449
1,096,985,869
47,608, OOI
1,049,377,868
628,059,869
55,087,750
572,972,119
477,203,000
7,084,417
470,118,583
1,105,262,869
62,172,167
1,043,090,702
639,114,869
58,719,670
580,395,199
476,256,000
8,438,975
467,817,025
1,115,370,869
67,158,645
1,048,212,224
652,570,869
35,006,180
617,564,689
475,642,000
12,705,811
462,936,189
1,128,212,869
47,711,991
1,080,500,878
646,082,869
44,623,470
601,459,399
471,993,000 1,118,075,869
7, .370,511
51,993,981
464,622,489 1,066,081,888
652,191,869
42,018,390
610,173,479
471,673,000
4,710,967
466,962,033
1,123,864,869
46,729,357
1,077,135,512
672,336,869
41,965,030
630,371,839
476,150,000
6,320,837
469,829,163
1,148,486,869
48,285,867
1,100,201,003
Total.
195
TBEASUBEB.
N o . 2 6 . — G O L D CERTIFICATES AND SILVER CERTIFICATES OUTSTANDING, IN THE
T R E A S U R Y , AND IN CIRCULATION AT THE E N D OF EACH MONTH, FROM JANUARY,
1904—Continued.
Month.
1907—May:
Outstanding
In the Treasury.
In circulation...
June:
Outstanding
In the Treasury.
Incirculation...
July:
Outstanding
In the Treasury.
In circulation...
August:
Outstanding
In theTreasury.
In circulation..'.
September:
Outstanding
In the Treasury.
In circulation...
October:
Outstanding
In the Treasury.
In circulation...
November:
Outstanding
In the Treasury.
In circulation...
December:
Outstanding
In the Treasury.
In circulation...
1908—January:
Outstanding
In the Treasury,
In circulation...
February:
Outstanding
In the Treasury.
In circulation...
March:
Outstanding
In the Treasury.
In circulation...
April:
Outstanding
In the Treasury
In circulation..,
May:
Outstanding...,
In the Treasury,
In circulation...
June:
Outstanding
In the Treasury
In circulation...
.July:
Outstanding
In the Treasury
In circulation..,
August:
Outstanding
In the Treasury
Incirculation...
September:
Outstanding...
In the Treasury
In circulation.,,
October:
Outstanding...
In the Treasury
In circulation..
November:
Outstanding...
In the Treasury
In circulation..
December:
Outstanding...
In the Treasury
In circulation..
Gold certificates.
$681,249,869
50,614,460
630,635,409
Silver certificates.
Total.
$475,734,000 $1,156,983,869
5,274,748
55,889,208
470,459,252 1,101,094,661
678,424,869
78,352,570
600,072,299
475,777,000
5,565,775
470,211,225
1,154,201,869
83,918,345
1,070,283,524
694,930,869
80,469,480
614,461,389
474,068,000
10,251,563
463,816,437
1,168,998,869
90,721,043
1,078,277,826
710,938,869
83,033,260
627,905,609
472,011,000
11,505,829
460,505,171
1,182,949,869
94,539;089
1,088,410,780
720,889,869
80,685,260
640,204,609
473,723,000
12,875,749
460,847,251
1,194,612,869
93,561,009
1,101,051,860
748,637,869
71,341,960
677,295,909
471,527,000
7,177,432
464,349,568
1,220,164,869
78,519,392
1,141,645,477
747,218,869
71,582,660
675,636,209
471,687,000
2,733,880
468,953,120
1,218,905.869
74,316,540
1,144,589,329
767,005,869
60,393,520
706,612,349
471,416,000
3,684,653
467,731,347
1,238,421,869
64,078,173
1,174,343,696
610,215,869
40,586,510
769,629,359
464,704,000
11,290,360
453,413,640
1,274,919,869
51,876,870
1,223,042,999
830,046,869
38,384,970
791,661,899
457,044,000
10,852,631
446,191,369
1,287,090,869
49,237,601
1,237,853,268
835,010,869
26,670,040
808,340,829
452,048,000
13,866,783
438,181,217
1,287,058,869
40,536,823
1,246,522,046
846,910,869
29,584,390
817,326,479
463,778,000
17,520,019
446,257,981
1,310,688,869
47,104,409
1,263,584,460
825,730,869
42,022,380
783,708,489
474,054,000
17,385,516
456,668,484
1,299,784,869
59,407,896
1,240,376,973
822,923,869
39,947,250
782,976,619
474,350,000
9,071,295
465,278,705
1,297,273,869
49,018,545
1,248,255,324
818,758,869
34,485,260
784,273,609
484,054,000
9,363,038
474,690,962
1,302,812,869
43,848,298
1,258,964,571
837,564,869
30,911,760
806,653,109
487,768,000
12,684,277
475,083,723
1,325,332,869
. 43,596,037
1,281,736,832
842,045,869
36,378,. 105
805,667,764
488,208,000 1.330,253,869
48,742,163
12,364,058
475,843,942 .1,281,511,706
850,817,869
43,571,480
807,246,389
488,793,000
4,893,158
483,899,842
1,339,610.869
48,464,638
1,291,146,231
863,262,869
49,618,530
813,644,339
488,125,000
7,382,500
480,742,500
1,351,387,869
57,001,030
1,294,386,839
858,272,869
56,412,360
801,860;509
491,216,000
20,378,201
470,837,799
1,349,488,869
76,790,561
1,272,698,308
196
REPORT ON T H E FINANCES.
' N o . 2 6 . — G O L D CERTIFICATES AND SILVER CERTIFICATES OUTSTANDING, I N T H E
T R E A S U R Y , AND IN CIRCULATION AT T H E E N D OF EACH M O N T H , FROM JANUARY,
1904—Continued.
Month.
•
1909—January:
Outstanding...
In the Treasury
In circulation..,
February:
Outstanding
In the Treasury
In circulation..,
March:
Outstanding...
In the Treasury
In circulation..,
April:
Outstanding...
In the Treasury
In circulation..
May:
Outstanding...
In the Treasury
In circulation..
June:
Outstanding...
In the Treasury
In circulation..
July:
Outstanding...
In the Treasury
In circulation..
August:
Outstanding...
Tn the Treasury
In circulation..
September:
Outstanding...
In the Treasury
In circulation..
October:
Outstanding...
In the Treasury
In circulation..
November:
Outstanding...
In the Treasury
In circulation..
December:
Outstanding...
In the Terasury
In circulation..
1910—January:
Outstanding...
In the Treasury
In circulation..
February:
Outstanding...
In the Treasury
In circulation..
March:
Outstanding...
In the Treasury
In circulation..
April:
Outstanding...
In the Treasury
In circulation..
May:
Outstanding...
In the Treasury
In circulation..
June: Outstanding...
In the Treasury
In chculation..
Gold certificates.
$864,263,869
25,956,330
838,307,539
Silver certificates.
$480,898,000 $1,345, 161,869
45, 491,567
19,535,237
461,362,763 1,299,670,302
860,341,869
47,699,690
812,642,179
484,754,000
• 13,342,608
471,411,392
1,345,095.869
61, 042,298
1,284,053,571
844,617,869
47,661,660
796,956,209
483,365,000
6,607,037
476,757,963
1,327 982,86954 268,697
1,273; 714,172
846,698,869
42,089,580
804,609,289
482.547,000
5;965,203
476,581,797
1,329,245,869
48, 054,783
1,281, 191,086
842,855,869
27,461,850
815,394,019
486,390,000
6,987,843
479,402,157
1,329,245,869
34,449,693
1,294,796,176
852,751,869
37,746,420
815,005,449
484,414,000
6,696,676
477,717,324
1,337,165,869
44,443,096
1,292,722,773
852,034,869
46,750,510
805,284,359
487,008,000
9,794,233
477,213,767
1,339,042,869
56,544,743
1,282,498,126
859,392,869
47,920,700
811,472,169
487,586,000
9,501,446
478,084,554
1,346,978,869
57,422,146
1,289,556,723
864,162,869
58,645,710
805,517,159
484,826,000
5,135,169
479,690,831
1,348,988,869
63,780,879
1,285,207,990
874,656,869'
79,451,380
795,205,489
487,587,000
5,792,111
481,794,889
1,362,243,869
85,243,491
1,277,000,378
884,339,869
93,962,600
790,377,269
487,038,000
5,928,407
481,109,593
1,371,377,869
99,891,007
1,271,486,802
874,792,869
84,885,800
789,907,069
487,355,000
12,965,542
•474,389,458
1,362,147,869
97,851,342
1,264,296,527
866,808,869
50,617,490
816,191,379
484,665,000
10,624,977
474,040,023
1,351,473,869
61,242,467
1,290,231,402
858,472,869
40,844,290
817,628,579
485,775,000
6,537,927
479,237,073
1,344,247,869
47,382,217
1,296,865,652
852,877,869
45,676,610
807,201,259
489,834,000
5,688,438
484,145,562
1,342,711,869
51,365,048
1,291,346,821
851,665,869
66,959,620
784,706,249
489,798,000
5,947,355
483,850,645
1,341,463,869
72,906,975
1,268,556,894
857,003,869
54,151,210
802,852,659
489,317,000
8,053,089
481,263,911
1,346,320,869
62,204,299
1,284,116,570
862,936,869
60,182,670
802,754,199
489,117,000
10,519,762
•478,597,238
1,352,053,869
70,702,432
1,281.351,437
197
TBEASUEER.
No.
2 7 . — E S T I M A T E D STOCK OF ALL K I N D S OF M O N E Y AT THE E N D OP EACH MONTH,
FROM J A N U A R Y ,
1904.
[Notes include U n i t e d States n o t e s . T r e a s u r y n o t e s , a n d n a t i o n a l - b a n k notes,]
Month.
1904—January
February..
March
April
May
June
July
August
September.
October
November.
December..
1905—January
February..
March
Aprh
May
June
July
August
September.
October
November.
December.
1906—January...
February..
March
April
,
May
June
July
August
September.
October
November.
December.
1907—January...
February..
March
April
May
June
July
August
, September.
October...
November.
Deceraber.
1908—January...
February..
March
April
May
June
July
August.'...
September
October...
Noveraber.
Deceraber.
1909—January...
February..
March
April
May
June
July
August
September
October...
November.
December.
1910—January...
February..
March
April
May
June
Gold.
Silver.
Notes.
Aggregate.
$1,326, 841,555 $661,352,576 $788,860, 643 $2,777,054,774
2,793 311,428
1,337, 357,717
791,851' 326
664,102,385
2,808' 960,136
1,348, 803,970
795,962: 958
664,193,208
2,814;985,446 •
1,351, 984,577
665,252,280
797,748; 589
2,785,300,789
1,313: 120,868
666,037,340
806,142 581
2,803,504,135
1,327; 656,398
666,953,626
808,894; 111
2,818,711,247
1,342, 422,740
666,747,603
809,540, 904
2,829,273,316
1,349, 896,565
667,953,962
811,422, 789
2,835,333,734
1,351, 455,968
669,151,342
814,726, 424
2,848,292,930
I,363, 047,081
669,670,333
815,575; 516
2,840: 236^023
1,351, 415,633
670,129,299
818,691 091
2,839;103,169
1,345, 952,535
670,656,462
822,494: 172
997,584
1,341, 206,452
670,985,263
824,805: 869
937,3.27
1,331, 165,720
671,556,751
2,
826,214; 856
1,338, 274,546
671,891,899
2,842; 907,406
832,740, 961
1,343, 897,159
672,291,400
2,853,979,520
837,790: 961
1,352, 063,028
672,656,023
2,869,344,583
844,625: 532
1,357, 655,988
673,640,054
2,883,109,864
851,813: 822
1,368, 427,343
673,547,153
2,901,791,907
859,8I7: 411
1,379, 804,314
673,704,388
2,921,394,085
867,885; 383
1,387, 257,928
674,680,087
2,933,766,271
871,828 256
1,404, 686,516
675,162,070
2,959,558,851
879,710: 265
1,411, 777,450
676,136,418
274
2,976,402,142
888,488
1,419, 943,124
676,889,720
2,992,758,207
895,925; 363
1,423, 220,213
677,254,246
096
2.998,471,555
897,997
1,417, 007,439
677,428,821
2.999,890,171
905,453; 911
1,418, 202,210
677,198,447
983
3,004,542,640
909,141
1,433, 450,570
677,487,639
3,021,926,507
910,988; 298
1,466, 921,374
677,665,057
676
3,057,901.107
913,314
1,475, 706,765
679,090,450
3,069;976,591
915,179: 376
1,495, 606,494
678,821,326
3,089,821,881
915,394: 061
1,507, 503,849
679,930,330
8,111:096,498
923,662: 319
1,539, 840,778
681,286,650
3,148,732,552
927,605: 124
1,566, 619,131
685,124,829
3,188,508,961
936,765: 001
1,576, 898,912
687,579,312
946,888: 565- 3,211,366,789
1,587, 018,385
689,476,898
3,225,954,768
949,459: 485
1,598, 116,107
689,238,008
3,236,720,700
949,366: 585
1,604, 972,427
690,000,971
3,244,382,436
949,409: 038
1,611, 373,750
690,404,583
3,251,953,412
950,175: 079
1,617, 893,741
691,839,019
3,262,509,616
952,776: 856
1^619, 136,891
692,952,548
3,266,789,005
9r>4,699: 566
1,466, 389,101
692,714,200
3,115,561,007
956,457: 706
1,474, 168,738
693,197,097
3,123,333,737
955,967: 902
1,472, 563,328
693,969,008
2,123,056,673
956,524; 337
1,482, 969,710
695,343,609
3,134,688,449
956,375, 130
1,489, 742,845
696,759,584
3,148,776,911
%2,274 482
1,561, 714,719
698,905,127 1,008,445; 212
3,269,065,058
1,604, 530,493
702,401,976 1,042,290 911
3,349,223,380
1,628, 600,555
704,367,775 1,047,483 778
3,380,452.108
1,635, 848,474
706,395,605
535
3,389,918,614
1,642, 565,614
707,496,445 1,047,674; 371 •3,398,390,430
1,048,328, 714
1,639, 267,384
707,906,984
3,396,653,082
1,616, 013,933
706,718,245 1,049,478, 533
3,372,932,711
1,618, 133,492
710,633,595 1,050,200, 933
3,378,764,020
1,630, 299,889
710,363,367 1,049,996, 007
3,384,336,263
1,043,673 124
1,641, 558,948
711,193,819
3,389,606,891
1,643, 681,386
709,264,072 1,036,854; 343
3,380,005,801
1,649, 358,744
714,490,782 1,027,060, 208
3,381,079,734
1,658,
714,784,617 1,017,230, 193
3,392,136,961
844.151
1,018,508, 181
1,653,
716,889,924
3,399,116,912
1,649, 881,807
718,122,364 1,028,345, 108
3,395,030,775
1,656, 029,303
719,413,952 1,027,879 616
3,405,573,677
1,645, 725,109
717,706,847 1,029,434; 631
3,398,615,534
422,056
1,035,486, 243
1,649,
718,539,211
3,406,446,996
1,644, 489,542
722,572,927 1,038,418, 131
3,406,611,791
900,733
1,039,138, 090
1,642,
723,470,265
3,406,328,354
1,637, 041,999
723,518,934 1,040,816 180
3,407,534,241
1,636, 811,127
719,906,119 1,046,204; 490
3,406,048,392
1,646, 495,783
724,215,565 1,049,646 475
3,424,608,541
833,501
1,053,559 772
1,648,
724,519,210
.889,113
3,427,
1,644, 714,131
725,599,352 1,054,655; 473
3,428,602,048
1,638, 906,223
727,135,856 1,058,096 269
3,426,221.946
1,639, 108,821
727,718,824 1,060,977: 349
3,428,135,968
1,642, 962,795
728,242,605 1,060,454: 884
3,430,880,335
1,648, 083,846
725,820,690 1,060,553: 012
3,442,423,854
863.152
1,067,740: 602
1,620,
725,992,025
3,410,413,718
1,627, 522,091
729,319,113 1,063,899: 857
3,419,382,284
428,314
1,062,634: 749
1,636,
719,764,256
3,419,591,483
043,478
1,063,783;
198
No.
REPORT ON T H E FINANCES.
2 8 . — E S T I M A T E D AMOUNT OP ALL K I N D S OP M O N E Y IN CIRCULATION AT THE
E N D OF EACH MONTH, FROM JANUARY, 1904.
Month.
1904—January...
Febriiary..
March
April
May
June
July
August
Septeraber
October...
November.
December.
1905—January...
February..
March
April
May
June
July
August
Septeraber
October...
Noveraber.
Deceraber.
1906—January...
February..
March
April
May
June:
July
,.
August
Septeraber
October...
Noveraber.
Deceraber.
1907—January...
February..
March
April
May
June
July
August
September,
October...
November.
December.
1908—January...
February..
March
April
May
June
July
August..-..
Septeraber,
October....
November,
December.
1909—January...
February..
March
April
May
June
July
August
Septeraber
October...
Noveraber.
Deceraber.
1910—January...
Februar.y..
March
April......
May
June
Gold.
Silver.
Notes.
$627 ,905,855 $173,
,433,925 $761,130,
638 909,710
171, J
,886,569
768,377,
650: 924,710
169,'
,796,973
780,515,
656 159,418
168,'
,463,291
777,995,
644 894.548
167,:
782,409,
,184,826
645 817,576
166, {
,842,169
779,689,
644: 112,980
165,]
,158,611
776,931,
646' 664,812
167,;
,502,461
778,873,
641 844,863
174, {
790,812,
,840,267
641 793,093
179, {
798,924,
,851,251
647 500.549
182,'
802,291,
,409,266
649 548,528
182, <
, 930., 722 802,384,
649: 527,502
177,:
,241,230
791,596,
645 751,720
174,,
,544,004
795,999,
644 726,546
173,,
805,932,
,586,943
644 423,211
173,' 709,400 809,885,
,
650 979,108
174, (
,091,133
816,227,
651, 063,589
175,1
821,721,
,022,043
650, 616,580 175,1
,
,024,657
827,304,
653 003,548
178,.
,401,936
834,579,
652 330,135
184, {
845,354,
,976,867
651 644,998
188,'
,980,243
860,915,
649 040,390
192,:
,102,607
872,873,
654 168,025
193,' 765,592 878,710,
,
654 ,793,697
188,1
,007,079
870,240,
648 856,052
186,'
,745,219
881,214,
643 993,307
191,;
886,369,
,200,775
672 524,404
189,!
,918,721
889,536,
683 426,878
, 496,454 888,290,
668 655,075
,630,872
891,278,
675 979,661
189, (
892,171,
,091,784
676; 179,514
192,;
,338,141
905,136,
684 268,074
197, (
,664,217
914,005,
687 686,761
203,1
925,933,
,885,116
685 974,422
206,' 473,629 933,535,
,
692 623,564
209,' 498,773 933,565,
,
695, 539,841
203,;
923,280,
,581,203
692,,895,812
203,1
928,052,
,690,890
690 439,279
203,!
,983,239
934,841,
691 481,469
203, J
936,545,
,878,005
695: 680,258
203, {
939,197,
,810,469
561 697,371
203,'
937,487,
,487,845
566; 036,725
203,;
,504,285
933,504,
560,,356,994
205,: 233,277 935,200,
,
561 956,589
209,' 744,403 933,101,
,
574 459,086
216,: 284,188 943,979,
,
640: 577,952
223,!
,959,161
999,115,
648 573,173
226,;
,293,287 1,029,779,
641 496,096
220,:
,258,147 1,009,565,
633 ,804,057
213, <
,928,137 1,007,081,
629 732,705
209, <
994,564,
,631,136
628 168,888
205,:
989,249,
,291,554
618 620,761
199,' 486,183 977,698,
,
613 244,810
200,,
,506,822
976,008,
615: 788,276
197,!
973,241,
,967,870
619:,990,263
198, i
,896,669
976,783,
615: 955,118
199,:
981,724,
,108,224
206,'
610 .060,562
,403,946
990,887,
208,'
997,702,
616 998,061
,474,033
207,; 506,958 992,792,
619 317,841
,
204,:
605, 944,900
,258,229
981,439,
202,!
609,,998,359
,926,039
987,810,
199, i 449 1,005,107,
608 292,659
,570,
198,! 939,082 1,007,243,
,
609 289,337
202, (
605 243,676
,077,178 1,006, 545,
204,;
599 337,698
,319,698 1,009,860,
204,'
596 806,435
,744,696 1,011,031,
203,1
587 ,838,757
,052,356 1,015,825,
212, (
598 443,000
,027,601 1,025,631,
216,'
598 773,175
,707,895 1,032,197,
219,!
603 961,316
,939,451 1,035) 923,
221,
606 212,413
,731,663 1,029,913,
217,1
603 514,652
,091,608 1,014,749,
215,: 228,223 1,024,200,
597 ,798,938
,
212,;
594 085,718
,577,066 1,040,264,
212,;
591 ,814,708
,545,280 1,031,630,
215, {
,818,883 1,026,415,
594,954,808
208, <
,016,245 1,022,109,
590,877,993
Certificates,
$925, 509,437
924; 308,081
915; 401,648
930, 027,153
914, 790,755
926, 793,797
960, 386,039
965, 239,619
954 652,015
962, 907,591
941 686,913
934 756,916
950; 684,415
944, 318,718
934, 746,895
949, 988,732
943 373,102
940; 075,457
951 956,830
955; 674,280
941 569,280
951: 591,215
948 118,497
944; 899,504
967 588,773
954; 486,282
954, 941,314
968, 270,859
983: 467,375
988: 081,903
1,000,106,067
993, 258,880
,016: 196,239
,049: 377,868
,043: 090,702
,048: 212,224
500,878
Total.
$2,487, 979,301
2,503, 481,897
2,510: 639,223
2,532, 645,135
2,509, 279,917
2,519; 142,860
2,546, 589,503
2,558, 279,984
2,562, 149,489
2,583, 476,661
2,573,888,367
2,569 621,125
2,569, 049,165
2,560, 614,712
2,558, 992,983
2,57' 006,686
2,584, 670,716
2,587, 882,653
2,604, 902,301
2,621, 659,054
2,624, 230,391
2,653, 131,578
2,662, 134,539
2,671, 543,571
2,680, 629,932
2,671,302,503
2,676, 504,788
2,720, 250,303
2,743, 681,120
2,736, 646,628
2,757, 349,438
2,766, 913,299
2,812, 133,694
2,866, 882,786
2,869, 074,255
2,883, 900,328
2,902, 902,093
2,890, 721,222
2,906,399,868
135,512
2,932, 106,025
201,002
2,939, 782,569
094,661
2,772, 956,455
283,524
2,781,323,560
277,826
2,789, 201,620
410,780
2,805,854,374
051,860
2,876, 368,696
645,477
3,008, 241,583
589,329
3,078, 989,298
343,696
042,999
3.094, 362,699
853,268
3,092, 666,641
522,046 3,""" 450,734
584,460
3,086, 294,101
376,973
3,036, 182,289
255,324 3,038, 015,488
964, ^71 3,045, 962,547
736,832
3.077, 406,908
511,706
3.078, 299,361
146,231
3 , ' " 498,021
386,839
3,117, 561,033
698,308
3,092, 315,703
670,302
3,091 312,546
053,571
3,084, 778,006
714,172 3 , " " 684,516
191,086
3,096, 663,124
796,176 3,108, 662,406
722,773
3,106, 240,657
498,126
3.095, 080,999
556,723
3,096; 273,826
207,990 3,121, 310,026
000,378
3.124, 679,057
486,862 3,131, 310,934
,_,296,527
3,122 154,538
290, 231,402 3.125, 586,720
296,865,652
3,134, 093,250
291,346,821
3,138, 273,811
268,556,894 3,104: 547,273
284,116,570 3,121 305,747
281,351,437
3,102,355,605
199
TBEASUBER.
No.
29.—AsSETiS OP THE T R E A S U R Y OTHER THAN GOLD, SILVER, N O T E S , AND
CERTIFICATES AT THE E N D OF EACH MONTH, FROM JANUARY, 1904.
Month.
1904—January
February...
March
April
May
June
July
August
Septeinber..
October
November..
December...
1905—January
February...
March
April
May
June
July
August
Septeraber..
October
November..
December..
1906—January
February...
March
,
April
May..
June
July.
August
September.,
October
Noveraber..
December..
1907—January
February...
March
April
May
June
July
August
September.
October
November..
December..
1908—January
February..
March
April
May
June
July
August
September.
October
Noveraber..
December..
1909—January
February..
March
.April
May
June
July
August
September.'
October
November.
December..
1910—January
February..
March
April
May
June
Minor coin. Fractional
$698,843
796,872
918,729
872,480
811,692
755,791
732,250
655,318
596,892
• 631,235
694,8.17
636,709
807,961
858,860
1,018,504
912,228
809,158
926,154
787,987
621,910
602,146
534,560
248,495
471,820
696,215
754,470
855,028
760,142
578,825
1,359,586
1,243,896
967,924
672,132
967,506
495,608
601,133
1,065,121
1,063,125
893,730
2,022,713
1,834,313
1,642,938
1,424,650
1,183,838
' 884,615
1,500,150
1,133,863
1,159,206
1,665,027
1,995,907
2,826,075
2,771,583
2,869,089
3,164,307
3,077,284
»3,096,834
2,896,359
2,665,449
2,306,071
2,023,737
2,360,179
2,423,955
2,802,819
2,745,130
2,582,133
2,607,433
2,430,978
1,923,098
1,972,344
1,519,743
1,222,515
1,060,531
1,167,889
• 1,192,280
1,022,457
1,148,185
1,257,024
936,199
Deposits
in national
banks.
Philippine
Islands,
$118 $166,595,774 $5,777,747
5,.522,362
156
162,505,518
5,162,946
178
162,058,353
5,971,498
209
162,729,008
5,119,272
204
114,533,127
6,146,607
200
110,726,253
7,316,937
128
112,642,766
6,452,880
195
112,841,419
5,824,703
172
112,303,505
5,794,510
100
114,558,482
5,211,669
187
112,041,489
4,699,741
95
111,550,855
5,538,431
142
102,407,259
4,735,870
187
102,128,349
4,925,371
173
89,395,018
4,368,929
72
88,257,004
3,739,480
119 . 78,457,793
2,824,469
99
73,757,357
3,972,622
150
65,715,119
4,489,951
524
64,059,172
3,935,870
88
64,618,584
4,122,039
151
65,726,312
4,820,624
88
65,607,937
5,195,977
144
64,764,367
5,148,603
74
64,343,644
5,064,704
137
65,333,465
4,921,755
103
76,350,723
3,713,519
152
102,918,772
4,318,437
126
92,534,755
3,449,265
154
90,443,924
5,177,552
195
84,480,056
4,898,673
128
106,355,219
5,314,735
158
134,619,383
4,730,064
191
148,975,346
5,003,377
137
145,559,439
4,398,584
154
158,753,158
4,200,305
58
160,654,952
3,422,551
73
150,486,236
3,887,713
159
165,235,680
3,799,552
80
178,691,078
4,112,786
150
183,810,572
2,984,102
57
178,741,438
4,253,678
91
156,990,205
4,731,183
147
157,102,219
5,593,866
56
170,512,212
5,064,571
92
220,270,625
3,939,200
107
236,548,321
4,353,145
172
256,920,155
4,004,169
75
238,190,042
2,996,970
129
230,515,443
4,064,367
47
202,662,622
3,366,421
117
200,713,219
2,451,942
85
164,912,412
1,971,066
141
160,357,000
5,448,751
75
130,660,745
6,455,226
125
128,907,343
4,687,105
92
129,925,200
4,029,618
135
131,693,492
4,769,987
97
130,111,806
5,009,728
•239
123,928,436
4,323,011
103
100,511,200
3,472,902
165
72,343,825
4,428,338
35
70,516,470
4,135,946
59
71,159,294
4,282,808
146
72,946,080
2,770,878
79
71,662,801
5,901,272
118
54,022,746
5,032,190
53
51,651,531
4,800,898
53
50,604,523
6,107,046
125
49,497,654
5,863,025
59
49,069,718
5,631,183
110
47,926,877
4,725,884
183
48,353,942
4,243,930
87
48,618,090
4,857,190
136
47,603,386
4,481,524
138
46,944,661
4,728,696
78
50,841,325
3,470,650
131
52,209,586
interest
paid.
$232,740
24,113
28,383
82,267
38,907
58,153
63,100
17,357
37,919
- 26,801
26,830
37,412
41,474
31,839
17,788
50,721
22,553
67;261
34,972
31,148
• 36,998
36,239
43,131
156,234
121,499'
26,907
31,265
43,613
217,095
53,238
24,468
34,740
29,247
27,759
22,452
346,897
13,319
30,790
596,606
26,454
40,690
60,383
517,924
105,052
59,216
49,155
56,113
57,051
15,537
32,014
11,764
22,738
37,736
33,221
21,707
17,174
9,766
18,978
27,618
26,098
23,526
24,988
18,087
24,688
59,070
18,663
26,376
9,115
4,579
14,654
26,718
8,830
5,994
48,045
17,253
27,569
16,470
12,097
Total.
$173,305,222
168,849,021
168,168,589
169,655,460
120,503,202
117,687,004
120,755,181
119,967,169
118,763,191
121,011,128
117,974,992
116,924,812
108,795,267
107,755,105
95,356,854
93,588,954
83,029,103
77,575,340
70,510,850
69,202,705
69,193,686
70,419,301
70,720,275
70,588,542
70,310,035
71,179,683
82,158,874
107,436,198
97,649,238
95,306,167
90,926,167
112,256,684
140,635,655
154,700,866
151,081,013
164,099,926
165,933,755
155,002,775
170,613,888
184,539,877
189,798,511
183,428,918
163,186,548
163,122,439
177,049,965
226,884,593
241,677,604
262,489,729
243,874,850
235,540,463
209,564,875
206,874,078
170,271,264
165,525,735
139,208,562
138,476,702
137,518,522
138,407,672
137,215,579
130,988,238
107,218,019'
78,265,835
77,765,749
78,065,117
79,870,237
77,059,854
62,381,490
58,615,987
57,382,397
57,139,222
56,182,035
54,627,531
54,253,892
54,102,432
53,500,422
52,602,077
56,843,593
56,628,663
200
No.
REPORT ON T H E FINANCES.
3 0 . — A S S E T S OP THE T R E A S U R Y AT THE E N D OF EACH MONTH, FROM J A N U 0
A R Y , 1904.
Month.
1904—January....
February..
March
April
May
June
July
August
September.
October
November.
Deceraber..
1905—January
February..
March
April
May
June
July
August
Septeraber.
October
Noveraber.
December..
1906—January
February..
March
April
May
June
July
August
September.
October
November.
Deceraber..
1907—January....
February..
March
April
May
June
July
August
September.
October
November.
December..
1908—January....
February..
March
April
May
...
June
July
August
September.
October
November.
December..
1909—January
February..
March
April
May
June
July
• August
September.
October
November.
December..
I9I0—January
February..
March
April
May
June
Gold,
935,
698, 448
697, 879
695, 825;
668, 226,
681, 838,
698, 309
703, 231
709, Oil
721, 253
703, 915;
696, 404
691, 678
685, 414
693, 548;
699, 473
701, 083:
706, 592:
717, 810
726, 8OO:
734, 927^
753, 041
762, 737
765, 775:
768, 426:
768, 151
774, 208:
760, 926:
783, 494:
807, 051
819, 626
831, 324
855, 572:
878, 932:
890, 924:
894, 394:
902, 576:
912, 076:
920, 934:
926, 412:
923, 456:
904, 69i;
908, 132
912, 200:
921, 013:
915, 283
921, 136'
955, 957:
987, 104:
1,002, 044'
1,012, 832
1,011, 098:
997, 383
1,004, 888:
1,014, 511
1,021, 568;
1.027, 726
1,039, 298:
l,04i: 846
1,034: 563
1,043: 084
1,046: 736:
1,037: 129'
i,o4o: 200:
1,039: 657'
1,042: 704
i,04i: 004;
1,048: 657
1,048: 390:
1,049: 940;
i,o4o:,944,
i,03i; 896,
1,036, 448,
1,044, 284
1,054; 777
1,028, 707:
1,032, 473
1,045, 165
Silver
Notes,
15504 814, 015 $27,730,559
508 684,859 23,473,789
510 483, 639 15,447,066
512 696,991 19,753,316
514 160,262 23,732,793
515 492, 455 29,204,793
516 465, 172 32,609,031
514 781, 635 32,549,697
508 460, 654 23,914,080
503 983, 106 16,650,790
501 816,347 16,399,452
501 656,425 20,109,213
507 736, 446 33,209,851
510 662, 138 30,215,186
511 729,263 26,808,362
512 182, 500 27,905,618
511 924, 263 28,398,159
511 328, 599 30,092,258
511 009,090 32,513,177
507 667, 191 33,306,093
501 580, 743 26,474,153
497 363, 820 18,795,143
494 442,350 15,615,229
492 697,317 17,214,913
498 627, 518 27,756,713
500 349, 995 24,238,961
495 464,022 22,772,591
496 736,567 21,451,979
498 330, 114 25,024,263
499 225, 914 23,900,598
498 472, 295 23,222,135
496 199,436 18,525,555
492 392, 426 13,599,960
489 560,051 10,831,960
488 839,063 13,353,063
487 427, 725 15,893,718
493 765, 992 26,086,414
495 054, 708 21,356,406
495 179,853 15,333,241
496 681, 764 16,231,307
497 994, 644 15,502,385
499 254, 430 18,969,991
500 103,061 22,463,178
498 996, 139 21,323,768
494 973, 464 23,273,608
489 400,842 18,294,537
9,330,071
483 598,056
484 643, 673 12,511,769
825, 528 37,918,321
493
502 731, 605 40,593,356
509 170, 570 53,763,524
513 743,865 60,229,515
518 061, 532 72,502,161
521 205,020 73,988,401
523 038, 379 70,431,177
522 729, 618 •60,070,980
520 312, 041 45,336,030
517 990,265 26,342,926
516 031, 279 20,806,093
518 303,410 35,552,585
523 069, 542 46,439,993
525 249, 563 41,624,579
526 964,965 30,379,395
527 984, 706 31,174,624
528 647,077 32,592,755
527 607,960 30,955,602
527 126,759- 35,172,438
525 160,439 33,820,500
520 315, 280 27,928,040
515 894, 972 .22,458,163
513 448,649 22,173,168
512 305,824 31,063,334
517 785, 598 45,705,291
520 003, 623 36,353,447
520 278, 749 27,475,806
520 314, 193 32,269,211
520 441,027 36,219,371
518 965,845 41,673,819
Certificates,
$26,701,432
23,537,788
25,344,221
35,985,716
46,846,114
38,312,772
30,689,930
30,426,350
48,161,954
47,036,378
66,414,056
67,030,053
49,500,554
46,486,251
51,754,074
38,565,237
42,539,867
42,979,512
32,605,139
38,263,689
53,495,683
49,172,754
53,637,372
58,168,365
39,590,096
55,038,587
59,534,555
55,065,010
48,772,494
49,450,966
41,515,802
57,872,989
44,106,630
47,608,001
62,172,167
67,158,645
47,711,991
51,993,981
46,729,357
48,285,867
55,889,208
83,918,345
90,721,043
94,539,089
93,561,009
78,519,392
74,316,540
64,078,173
51,876,870
49,237,601
40,536,823
47,104,409
59,407,896
49,018,545
43,848,298
43,596,037
48,742,163
48,464,638
57,001,030
76,790,561
45,491,567
61,042,298
54,268,697
48,054,783
34,449,693
44,443,096
•56,544,743
57,422,146
63,780,879
85,243,491
99,891,007
97,851,342
61,242,467
47,382,217
51,365,048
72,906,975
62,204,299
70,702,432
Other,
Tot
$173,305,222 $1,431,
,486,928
168,849,021
1,422,
,993,464
,322, "776
168,168,590
1,417,
,916,642
169,655,460
1,433,
120,503,202
,468,691
1,373,
,535,846
117,687,004
1,382,
,829,074
120,755,181
1,398,
,956,604
119,967,169
1,400,
1,910,984
118,763,191
1,408,
1,935,390
121,011,128
1,409,
>,
117,974,992
l,-406.519,931
:
,
116,924,812
1,402, 124,510
1,921,068
108,795,267
1,390,
,532,680
107,755,105
1,380,
,196,553
95,356,854
1,379,
,716,257
93,588,954
1,371,
1,975,312
83,029,103
1,366,
i
,
77,575,340
1,368, 568,108
,449,019
70,510,850
1,364,
1,240,444
69,202,705
1,375,
1,672,058
69,193,686
1,385,
i
,
70,419,301
1,388, 792,536
,152,286
70,720,275
1,397,
,444,236
70,588,542
1,404,
,710,878
70,310,035
1,404,
,958,613
71,179,683
1,418,
,138,945
82,158,874. 1,434,
,615,920
107,436,198
1,441,
,270,606
97,649,239
1,453,
,935,335
95,306,167
1,474,
,763,232
90,926,167
r,473.
,178,999
112,256,684
1,516,
,307,375
140,635,655
1,546,
,633,247
154,700,865
1,581,
,369,796
1,606,
151,081,013
,974,834
164,099,925
1,628,
,074,418
165,933,755
1,636, 484,485
i
,
155,002,775
1,635,
,790,810
170,613,888
1,648,
,151,087
1,672,
184,539,877
,641,381
1,682,
189,798,511
1,263,414
183,428,918
1,690,
,605,843
163,186,548
r,684.
,187,769
163,122,439
1,690,
,871,167
177,049,965
1,709,
,283,123
226,884,593
1,728,
,059,038
.241,677,604
1,730,
,680,664
262,489,729
1,779,
,600,028
243,874,850
1,814,
,147,442
1,830,
2^5,540,463
,868,701
209,564,875
5
1,825, 050,363
,636,025
1,8395
206,874,078
,626,383
170,271,264
1,817,
,038,029
1,814,
165,525,735
,442,022
139,208,562
1,791,
,635,024
138,476,702
1,786,
,503,683
137,518,522
1,779,
,900,071
138,407,672
1,770,
,198,760
1,772,
137,215,579
,303,524
1,796,
130,988,238
,919,025
107,218,019
1,765,
,508.203
1,752,
78.265,835
'
,
77,765,749
1,726, 479,435
,216,819
78,065,117
1,725,
,770,813
79,870,237
1,715,
,230,122
1,722,
77,059,854
,676,098
1,722,
62,381,490
,797,097
58,615,987
1,723,
,676,804
1,717,
57,382,397
,639,766
57,139,222
1,730,
,744,439
1,732,
56,182,035
,435,391
1,727,
54,627,531
,126,627
54,253,892
1,715,
,397,459
1,702,
54,102,432
,799,839
53,500,422
1,707,
,181,796
52,602,077
1,706,
,136,244
56,843,593
1,708,
56,628,663
1,733,
201
TBEASUBER.
No,
3 1 . — L I A B I L I T I E S OP THE TREASURY AT THE E N D OF EACH MONTH, F.ROM
JANUARY, 1904.
Month.
1904:—January
February...
March
April
May
June
July
August
September..
October
November..
December..
1905—January....
Febjuary...
March
Aprh
May
June
July
August
September..
October
November..
December..
1906—January
February...
March
,
April
May
June
July.......
August
September.
October
November..
December..
1907—January
February..,
March
April
May
Jxme
July
August
September.
October
November.,
December..
1908—January
February..
March
April
May
June
July
August
Septeraber.
October
Noveraber.
Deceraber..
1909—January
February..
March
Aprh
June
July
August
Septeraber.
October
November.
Deceinber..
1910—January
February..
March
April
May
Jime
Certificates
and treasury notes.
$967,532,869
962,691,869
955,117,869
979,999,869
975,109,869
978,084,569
1,003,728,969
1,007,890,969
1,014,779,969
1,021,556,969
1,019,431,969
1,012,805,969
1,010,886,969
1,001,134,969
996,611,969
998,418,969
995,529, 969
992,467,969
993,726,969
1,002,921,969
1,003,859,969
1,009,384,969
1,010,233,869
1,011,397,869
1,015,264,869
1,017,493,869
1,022,269,869
1,030,996,869
1,039,743,869
1,044,918,869
1,048,853,869
1,058,260,869
1,067,323,869
1,103,897,869
1,112,089,869
1,121,986,869
1,134,700,869
1,124,460,869
1,130,146,869
1,154,668,869
1,163,061,869
1,160,189,869
1,174,889,869
1,188,736,869
1,200,319,869
1,225,777,869
1,224,451,869
1,243,900,869
1,280,319,869
1,292,409,869
1,292,298,869
1,315,840,869
1,304,854,869
1,302,255,869
1,307,715,869
1,330,179,869
1,335,020,869
1,344,315,869
1,356,036,869
1,354,084,869
1,349,686,869
1,349,563,869
1,332,380,869
1,333,574,869
1,333,519," 869
1,341,380,869
1,343,211,869
1,351,098,869
1,353,059,869
1,366,277,869
1,375,359,869
1,366,089,869
1,355,367,869
1,348,097,869
1,346,511,869
1,345,220,869
1,350,031,869
1,355,725,869
Agency
account.
Balance.
$85,208,975 $378,745,084
87,233,089
3'73,068,506
87,504,911 374,699,996
82,997,585 •370,919,188
85,071,306 3:L3,287,5I6
82,399,709 322,051,568
91,018,526
304,081,579
95,090,270 297,975,365
92,716,852 301,414,163
92,025,624 296,352,797
93,743,304 293,344,658
92,725,852 296,592,689
89,408,303 290,625,796
88,715,872 290,681,839
90,762,960 291,821,624
88,978,607
284,318,681
90,303,965 281,141,378
80,622,647
295,477,492
90,856,319 279,865,731
94,721,130 277,597,345
94,988,396 286,823,693
97,592,278 281,815,289
101,607,577 285,310,840
103,265,994 289,780,373
95,560,926
293,885,083
98,746,658 302,718,086
102,009,754 309,859,322
103,492,827 307,126,224
103,141,361 310,385,376
99,327, 111 330,689,355
104,945,421 319,963,942
107,231,255 350,686,875
107,770,410 371,213,096
104,434,568 373,300,810
112,809,640 381,470,287
117,990,889 388,997,076
106,665,342 394,708,207
110,868,962 400,154,654
115,775,938 402,868,003
116,093,875 401,388,343
111,949,847
407; 629,665
108,012,100 422,061,445
121,141,786 388,574,188
114,790,492 386,660,408
119,999,984 389,551,314
115,278,235 387,227,019
105,056,156 400,551,013
116,259,804 419,519,991
117,862,858 416,417,301
118,891,769 418,845,804
120,961,641 412,608,191
121,612,506 401,596,988
121,847,900 390,933,256
117,199,166 395,171,348
129,693,987
353,628,173
116,372,014 339,890,139
115,561,582 329,052,573
109,305,561 316,882,253
115,475,840 301,1387,362
122,612,474 319,501,417
115,915,070 299,701,585
112,091,343 291,263,813
110,193,263 283,934,071
114,470,731 277,433,835
111,795,641 269,901,309
105,014,516
276,375,428
120,580,498 258,4:37,755
124,626,358 247,950,871
120,531,114 244,206,114
125,295,857 239,103,078
125,344,772 231,935,125
127,605,704 234,048,866
129,106,658 230,960,864
123,456,945 230,571,813
122,000,325 238,885,265
128,116,831 233,462,139
125,984,510 232,165,417
120,515,700 256,894,675
Total.
,431,486,928
,422,993,464
,417,322,776,433,916,642
,373,468,691
,382,535,846
,398,829,074
,400,956,604
,408,910,984
,409,935,390
,406,519,931
,402,124,510
,390,921,068
,380,532,680
,379,196,553
,371,716,257
,366,975,312
,368,568,108
,364,449,019
,375,240,444
,385,672,058
,388,792,536
,397,152,286
,404,444,236
,404,710,878
,418,958,613
,434,138,945
,441,615,920
,453,270,606
, 474,935,335
,473,763,232
,516,178,999
., 546,307,375
,581,633,247
,606,369,796
,628,974,834
,636,074,418
.,635,484,485
,648,790,810
,672,151,087
,682,641,381
,690,263,414
,684,605,843
,690,187,769
,709,871,167
,728,283,123
,730,059,038
,779,680,664
,814,600,028
,830,147,442
,825,868,701
,839,050,363
,817,636,025
,814,626,383
,791,038,029
., 786,442,022
,779,635,024
,770,503,683
,772,900,071
,796,198,760
., 765,303,524
,752,919,025
,726,508,203
,725,479,435
,715,216,819
,722,770,813
., 722,230,122
.,723,676,098
,717,797,097
,730,676,804
,732,639,766
., 727,744,439
,715,435,391
,702,126,627
,707,397,459
,706,799,839
,708,181,796.
,733,136,244
202
No.
REPORT ON T H E EINANCES.
3 2 . — U N I T E D STATES N O T E S OP EACH DENOMINATION I S S U E D , R E D E E M E D ,
AND OUTSTANDING AT THE CLOSE OP EACH FISCAL Y E A R PROM 1902.
Issued during year.
T o t a l issued.
Redeemed
d u r i n g year.
T o t a l redeemed.
1902.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
$101,120,000
Twenty dollars..
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
400,000
One t h o u s a n d dollars
Five thousand dollars...
Ten thousand dollars..
$188,364,160
186,763,048
592,821,760
756,331,240
522,762,400
140,215,200
189,904,000
216,276,000
411.628,000
20,000,000
40,000,000
$53,750.00
114,290,00
21,234,140.00
42,783,450.00
15,971,970.00
2,767,450.00
4,725,200.00
3,531,750.00
10,338,000.00
$186,378,117,80
185,202,694,20
562,662,718,00
562,871,919,00
468,263,118.00
136,617,075,00
171,976,650,00
207,017,500,00
382,415,000.00
19,990,000.00
39,990,000,00
$1,986,042,20
1,560,353,80
30,159,042.00
193,459,321.00
54,499,282.00
9,598,125.00
17,927,350,00
9,258,500,00
29,213,000 00
10,000,00'
10,000,00
101,520,000
3,271,065,808
101,520,000.00
2,923,384,792.00
1,000,000.00
347,681,016,00
1,000,000,00
101,520,000
3,271,005,808
101,520,000.00
2,924,384,792.00
346,681,016,00
37,188.00
54,990.00
11,945,017,00
69,557,690.00
13,816,840.00
2,911,825.00
5,354,450.00
1,557,000.00
4,365,000,00
186,415,305.80
185,257,684.20
574,607,735.00
632,429,609.00
482,079,958.00
139,528,900.00
177,331,100.00
208,574,500.00
386,780,000,00
19,990,000,00
39,990,000.00
1,948,854.20
1,505,363.80
18,214,025.00
233,501,631.00
40,682,442,00
6,686.300.00
12,572,900.00
7,701,500.00
24,848,000.00
10,000.00
10,000.00
Denomination.
Total
U n k n o w n , destroyed
Net
" 1903.
One d o l l a r . . . . .^
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars.
Fifty dollars.'.
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Five thousand dollars...
T e n t h o u s a n d dollars
Total
U n k n o w n , destroyed
109,600,000
«
188,364,160
186,763,048
592,821,760
865,931,240
522,762,400
146,215,200
189,904,000
216,276,000
411,628,000
20,000,000.
40,000,000
Outstanding,
3,380,665,808
109,600,000,00
3,032,984,792,00
1,000,000,00
347,681,016.00
^1,000,000.00
109,000,000
3,380,665,808
109,600,000.00
3,033,984,792.00
346,681,016.00
188,364,160
186,763,048
592,821,760
074,371,240
528,682,400
147,015,200
191,714,000
219,276,000
414,338,000
20,000,000
40,000,000
27,510.00
35,280.00
0,349,065.00
96,501,620.00
10,775,500.00
1,687,225,00
3,421,300,00
1,007,500,00
2,875,000.00
186,442,815.80
185,292,964.20
580,950,300,00
728,931,229.00
492,855,458.00
141,210,125,00
180,752,400,00
209,582,000.00
389,655,000.00
19,990,000.00
39,990,000.00
1,921,344.20
1,470,083.80
11,864,960.00
245,440, Oil. Op
35,826,942.00
5,799,075.00
10,961,600.00
9,694,000,00
24,683;000,00
10,000.00
10,000.00
122,680,000
3,503,345,808
122,680,000.00
3,155,664,792.00
1,000,000.00
347,681,016.00"
1,000,000.00
122,680,000
Net
109,600,000
3,503,345,808
122,680,000,00
3,156,664,792,00
346,681,016.00
188,364,160
186,763,048
592,821,760
1,100,691,240
528,682,400
147,015,200
191,714,000
219,276,000
414,548,000
20,000,000
40,000,000
22,328,00
23,102.00
3,215,860,00
107,412,180.00
9,021,930.00
1,116,750.00
2,200,850.00
1,233,000,00
2,284,000,00
186,465,143,80
185,316,066,20
584,172,660,00
836,343,409.00
501,877,388.00
142,332,875,00
182,953,250,00
210,815,000.00
391,939,000.00
19,990,000.00
39,990,000.00
1,899,016.20
1,446,981.80
8,649,100.00
264,347,831.00
26,805,012.00
4,682,325.00
8,760,750.00
8,461,000.00
22,609,000.00
10,000,00
10,000.00
126,530,000
3,629,875,808
126,530,000.00
3,282,194,792. 00
1,000,000.00
347,681,016.00
1,000,000.00
126,530,000
3,629,875,808
126,530,000:00
3,283,194,792.00
346,681,016.00
188,364,160
180,763,048
592,821,760
1,208,531,240
528,682,400
147,015,200
191,714,000
219,276,000
414,548,000
13,093.00
13,952.00
1,706,195.00
95,839,150.00
5,519,560.00
760,150.00
1,500,900.00
717,000.00
1,770,000.00
186,478,236.80
185,330,018.20
585,878,855.00
932,182,559.00
507,396,948,00
143,093,025,00
184,454,150.00
211,532,000,00
393,709,000.00
1,885,923.20
1,433,029.80
6,942,905.00
276,348,681.00
21,285.452.00
3,922,175,00
7,259,850.00
7,744,000,00
20,839,000.00
1904.
O n e dollar
T w o dollars
F i v e dollars
...
T e n dollars
T w e n t y dollars
Fiftydollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Five thousand dollars...
Ten thousand dollars..
Total .
U n k n o w n , destroyed
Net
ios,440,666
5,920,000
800,000
1,810,000
3,000,000
2,710,000
1905.
O n e dollar
T w o dollars
F i v e dollars
Ten dollars..
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Five thousand dollars...
T e n t h o u s a n d dollars
Total
;
U n k n o w n , destroyed
Net
.
126,320,000
210,000
1906,
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
Twenty dollars.. .
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
107,840,000
'203
TBEASUEER.
No.
3 2 . — U N I T E D STATES N O T E S OP EACH DENOMINATION I S S U E D , REDEEMED,AND OUTSTANDING AT THE CLOSE OP EACH FISCAL Y E A R FROM 1902—Continued.
Denomination.
Issued d u r ing year.
1906.
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars. .
Total
U n k n o w n , destroyed
Net
T o t a l issued.
Redeemed
during year.
Total redeemed. Outstanding.
$19,990,000,00
.39,990,000,00
$10,000,00
10,000,00
3,737,715,808 $107,840,000.00
3,390,034,792.00
1,000,000,00
347,081,016.00
1,000,000.00
3,737,715,808
107,840,000.00
3,391,034,792.00
346,681,016.00
188,364,160
186,763,048
593,521,760
1,312,851,240
528,082,400
147,015,200
191.714,000
219,276,000
414,548,000
20,000,000
40,000,000
10,535.00
11,660.00
1,022,790.00
90,910,975,00
3,719,190,00
480,250.00
1,035,600.00
630,000.00
1,199,000.00
186,488,771,80
185,341,678.20
586,901,645.00
1,029,093,534.00
511,116,138.00
143.573,27.5.00
185;489,750.00
212,162,000.00
394,908,000.00
19:990,000.00
39,990,000.00
1,875,388.20
1,421,369.80
6,620,115.00
283,757,706.00
17,506,262.00
3,441,925.00
6,224,250. 00
7,114,000.00
19,640,000,00
10,000.00
10,000.00
105,020,000
3,842,735,808
105,020,000.00
3,495,054,792.00
1,000,000.00
347,681,016.00
1,000,000.00
105,020,000
3,842,735,808
105,020,000,00
3,496,054,792.00
346,681,016.00
188,364,160
186,763,048
671,741,760
1,3.35,331,240
531.562,400
147;015,200
193,914,000
219,626,000
432,028,000
20,000,000
40,000,000
14,046.00
13,344.00
.9,523,650.00
102,919,770.00
3,275,240.00
466,150.00
1,108,800.00
1,860,000.00
4,419,000.00
10,000.00
186,502,817.80
185,355,022.20
596,425,295.00
1,132,013,304.00
514,391,378.00
144,039,425.00
186,598,550.00
214,022,000.00
' 399,327,000.00
20,000.000.00
39,990,000.00
1,861,342.20
1,408,025.80
75,316,465.00
203,317,936.00
17,171,022.00
2,975,775.00
7,315,450.00
5,604,000.00
32,701,000.00
$20,000,000
40,000,000
$107,840,000
107,840,000
1907.
•One dollar
T w o dollars
Fivedollars.
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
Five hundred dollars....
One t h o u s a n d dollars
Five thousand d o l l a r s . . .
T e n t h o u s a n d dollars
Total....U n k n o w n , destroyed
Net
.
700,000
,104,320,000
1908.
One dollar
T w o dollars
F i v e clollars.
T e n dollars
T w e n t y dollars
Fiftydollars
One h u n d r e d d o l l a r s . . . . .
F i v e h u n d r e d dollars
One t h o u s a n d dollars
F i v e t h o u s a n d dollars.
Ten t h o u s a n d dollars
78,220,000
22,480;000
2,880,000
2,200,000
350,000
17,480,000
10,000.00
Total
U n k n o w n , destroyed
123,610,000
3,966,345,808
123,610,000,00
3,618,664,792.00
1,000,000.00
347,681,016.00
1,000,000.00
Net . .
123,610,000
3,966,345,808
123,610,000,00
3,619,664,792.00
.346,681,016.00
188,364,160
186,763,048
722,261,760
1,389,771,240.
535,882,400
147,015,200
194,974,000
221,926,000
452,328,000
20,000,000
40,000,000
11,396.00
12,414.00
37,871,840.00
84,440,590.00
4,657,160.00
365,200.00
1,450,400.00
544,000.00
3,587,000,00
186,514,213.80
185,367,436.20
634,297,135.00
1,216,453,894.00
519,048,538.00
144,404,62.5.00
188,048,950,00
214,566,000.00
402,914,000.00
20,000.000.00
39,990,000,00
1,849,940.20
1,395,611.80
87,964,625.00
173,317,.346.00
16,833; 862.00
2,610,575.00
6,925,050.00
7,360,000.00
49,414,000.00
132,940,000
4,099,285,808
132,940,000,00
3,751,604,792.00
1,000,000,00
347,681,016.00
1,000,000.00
132,940,000
4,099,285,808
132,940,000,00
3,752,604,792.00
346,681,016.00
188,364,160
186,763,048
800,451,760
1,432,751,240
543,322,400
147,015,200
196,304,000
221,926,000
452,328,000
20,000,000
40,000,000
7,391.00
7,334.00
51,364,295.00
66,502,900.00
4,192,280.00
302,950.00
1,428,850.00
943,000.00
5,191,000.00
129,940,000
4,229,225,808
129,940,000.00
3,881,544,792.00
1,000,000.00
347,681,016.00
1,000,000.00
129;940,000
4,229,225,808
129,940,000,00
3,882,544,792,00
346,681,016.00
1909.
One dollar
T w o dollars
Fivedollars
T e n dollars
..".
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Five thousand dollars..
T e n t h o u s a n d dollars
Total
U n k n o w n , destroyed
Net
50,520. 000
54,440,000
4,320,000
1,060,000
2,300,000
20,300,000
10,000.00
1910.
One dollar
T w o dollars
F i v e dollars
Ten dollars..
•
T w e n t y dollars
Fifty dollars..
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Five thousand dollars...
T e n t h o u s a n d dollars
Total
U n k n o w n , destroyed
Net....
78,190,000
42,980,000
7,440,000
1,330,000
1,842,555.20
186,521,604,80
185,374,770.20' • 1,388,277.80
685,661,430.00 114,790,330.00
1,282,956,-794.00 149,794,446.00
523,240,818.00
20,081,582.00
144,707,575.00
2,307,625.00
189,477,800.00
6,826,200.00
215,509,000.00
6,417,000.00
408,105,000.00
44,223,000.00
20,000,000.00
39,990,000.00
10,000.00
204
.No,
REPORT ON T H E FINANCES.
3 3 . — T R E A S U R Y N O T E S OP 1890 o r EACH DENOMINATION I S S U E D , R E D E E M E D ,
AND OUTSTANDING AT THE CLOSE OF EACH FISCAL Y E A R FROM 1902.
Issued dur- T o t a l issued. R e d e e m e d
ing year.
d u r i n g year.
$1,066,166
1,059,899
7,379,225
6,256,040
1,599,920
19,350
185,400
217,000
$63,584,677
48,854,343
111,582,150
91,996,200
31,122,430
1,104,900
17,250,300
• 51,940,000
$1,119,323
953 657
9,157,850
12,683,800
4,637,570
70,IOO
749,700
628,000
1 447,435,000
17,783,000
417,435,000
30,000,000
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
' 52,568,000
348,539
340,901
4,122,540
4,359,010
1,326,760
12,850
139,400
107,000
63,933,216
49,195,244
115,704,690
96,355,210
32,449,190
I,117,75a
17,389,700
52,047,000
770 784
612,756
5,035,310
8,324,790
3,310,810
57,250
610,300
521,000
447,435,000
10,757,000
428,192,000
19,243,000
• 64,704,000
49,808,000
120,740,000
104,680,000
L 35,760,000
1,175,000
18,000,000
52,568,000
143,692
135,338
1,978,730
2,870,470
924,220
11,250
112,300
89,000
64,076,908
49,330,582
117,683,420
99,225,680
33,373,410
1,129,000
17,502,000
52,136,000
627,092
477,418
3,056,580
5,454,320
2,386,590
46,000
498,000
432,000
447,435,000
6,265,000
434,457,000
12,978,000
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
79,338
72,977
933,865
1,718,080
632,240
7,500
72,000
49,000
64,156,246
49,403,559
118,617,285
100,943,760
34,005,650
1,136,500
17,574,000
52,185,000
547,754
404,441
2,122,715
3,736,240
1,754,350
38,500
426,000
383,000
447,435,000
3,565,000
438,022,000
9,413,000
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
51,670
47,935
464,015
944,030
390,100
6,750
64,500
58,000
64,207,916
49,451,494
119,081,300
101,887,790
34,395,750
1,143,250
17,638,500
52,243,000
447,435,000 1
1902. .
O n e dollar.
T w o dollars.
Five dollars.. ^
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
One t h o u s a n d dollars
Total
redeemed.
$64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
Denomination..
2,027,000
440,049,000
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000 1
52,568,000
33,097
32,208
303,515
601,800
266,180
5,100
49,100
107,000
447,435,000 1
1,398,000
441,447,000
5,988,000
28,606
26,154
210,790
432,350
202,900
4, IOO
43,100
58,000
64,269,619
49,509,856
119,595,605
102,921,940
34,864,830
1,152,450
17,730,700
52,408,000
434,381
298 144
1,144,395
1,758,060
895,170
22,550
269,300
160,000
1,006,000
442,453,000
4,982,000
. .
Total
:..
Outstanding.
1903.
One d o l l a r . .
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fiftydollars
.
One h u n d r e d dollars
O n e t h o u s a n d dollars
..........
..
Total. . -.:
1904.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
O n e t h o u s a n d dollars
1
-.
^
:.
.
Total
1905.
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
..
Fifty dollars
One h u n d r e d dollars .•
One t h o u s a n d dollars. .1
Total
:
1906.
."
•.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
F i f t y dollars
O n e h u n d r e d dollars
O n e t h o u s a n d dollars
Total.
,
496,084
356,506
1,658,700
2,792,210
1,364,250
31,750
361,500
325,000
7,386,000
1907.
O n e dollar .
T w o dollars .
'..
'
F i v e dollars
T e n dollars.
T w e n t y dollars
Fifty d o l l a r s . . . :
O n e h u n d r e d dollars
O n e t h o u s a n d dollars
Total
. 1908.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars .
O n e t h o u s a n d dollars
Total
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
447,435,000 |
64,241,013
49,483,702
119,384,815
102,489,590
34,661,930
1,148,350
17,687,600 1
52,350,000
462,987
324,298
1,355,185
'
2,190,410
1,098,070
26, 650
•
312,400
218,000
205
TBEASUBEB.
N o . 3 3 . — ^ T R E A S U R Y N O T E S OF 1890 OF EACH DENOMINATION I S S U E D , R E D E E M E D ,
AND OUTSTANDING AT THE CLOSE OF EACH FISCAL Y E A R FROM 1902—Cont'd.
Issued d u r - T o t a l issued. R e d e e m e d
ing year.
dm'ing year.
Denomination.
1909,
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
One t h o u s a n d dollars
Total
redeemed.
Outstanding.
$64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
$410,824
277,586
960 390
1,437,840
727,710
20,250
237,400
143,000
767,000
443,220,000
4,215,000
64,704,000
49,808,000
120,740,000
104,680,000
35,760,000
1,175,000
18,000,000
52,568,000
15,467
15,748
117,925
226,020
122,940
1,900
28,000
15,000
64,308,643
49,546,162
119,897,535
103,468,180
35,155,230
1,156,650
17,790,600
52,440,000
395,357
261,838
842,465
1,211,820
604,770
18,350
209 400
128,000
447,435,000
Total
$64,293,176
49,530,414
119,779,610
103,242,160
35,032,290
1,154,750
17,762,600
52,425,000
447,435,000
:
$23,557
20,558
• 184,005
320,220
167,460
2,300
31,900
17,000
543,000 . 443,763,000
3,672/000
1910.
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars . .
One t h o u s a n d dollars
Total
No.
3 4 : . — G O L D CERTIFICATES OF EACH DENOMiNATfoN I S S U E D , R E D E E M E D , AND
OUTSTANDING AT THE CLOSE OF EACH FISCAL Y E A R FROM 1902.
Denomination.
1902.
Twenty dollars
Fifty dollars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
1903,
Twenty dollars
Fifty dollars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
1904.
Twenty dollars
Fifty dollars
One hundred dohars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
1905.
Twenty dollars
Fifty dollars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
Issued during year.
Total issued.
Redeemed
during year.
$47,840,000
8,800,000
12,400,000
4,300,000
11,800,000
2,000,000
42,740,000
$166,720,000
52,200,000
83,034,300
76,244,000
225,581,000
603,035,000
761,000,000
$15,704,800
4,127,900
4,992,900
2,057,000
3,093,000
740,000
41,540,000
129,880,000
1,967,814,300
72,255,600
1,621,232,211
346,582,089
69,520,000
14,200,000
19,200,000
3,500,000
11,300,000
50,710,000
236,240,000
66,400,000
102,234,300
79,744,000
236,881,000
603,035,000
811,710,000
28,375,620
6,393,400
7,705,200
3,149,000
6,044,000
1,575,000
52,660,000
79,568,236
33,343,995
58,769,200
06,648,500
189,484,500
574,610,000
724,710,000
156,671,764
33,056,005
43,465,100
13,095,500
47,396,500
28,425,000
87,000,000
168,430,000
2,136,244,300
105,902,220
1,727,134,431
409,109,869
56,640,000
10,600,000
19,200,000
5,400,000
18,500,000
23,000,000
81,430,000
292,880,000
77,000,000
121,434,300
85,144,000
255,381,000
626,035,000
893,140,000
43,391,200
9,078,300
11,570,300
3,422,500
8,447,000
2,010,000
51,670,000
122,959,436
42,422,295
70,339,500
70,071,000
197;931,500
576,620,000
776,380,000
169,920,564
34,577,705
51,094,800
15,073,000
57,449,500
49,415,000
116,760,000
494,290,569
Total
redeemed.
Outstand• ing.
$51,192,616 $115,527,384
26,950,595
25,249,405
51,064,000
31,970,300
63,499,500
12,744,500
183,440,500
42,140,500
573,035,000
30,000,000
672,050,000
88,950,000
214,770,000
2,351,014,300,
129,589,300
1,856,723,731
54,240,000
16,400,000
23,200,000
2,800,000
8,300,000
7,250,000
82,520,000
347,120,000
93,400,000
144,634,300
87,944,000
263,681,000
633,285,000
975,660,000
49,713,400
9,693,250
13,134,950
3,431,000
8,318,000
2,010,000
85,120,000
172,672,836
52,115,545
83,474,450
73,502,000
206,249,500
578,630,000
861,500,000
194,710,000
2,545,724,300
171,420,600
2,028,144,331
174,447,164
41,284,455
61,159,850
14,442,000
57,431,500'
54,655,000
114,160,000
517,579,969
206
No.
REPORT ON T H E FINANCES.
3 4 . — G O L D CERTIFICATES OP EACH DENOMINATION I S S U E D , R E D E E M E D , A N D
OUTSTANDING AT THE CLOSE OP EACH FISCAL Y E A R FROM 1902—Continued.
1907.
Ten dollars
,
Twenty dollars
Fifty dollars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
Redeemed
during year.
$66,000,000
12,200,000
16,800,000
4,900,000
11,200,000
5,750,000
83,980,000
$413,120,000
105,600,000
161,434,300
92,844,000
274,881,000
639,035,000
1,059,640,000
$42,315,000
10,086,600
14,363,500
3,603,000
8,947,000
2,045,000
77,270,000
2,746,554,300
158,630,100
2,186,774,431
559,779,869
40,000
94,800,000
17,600,000
22,400,000
5,100,000
11,500,000
25,005,000
112,100,000
40,000
507,920,000
123,200,000
183,834,300
97,944,000
286,381,000
664,040,000
1,171,740,000
4,000
42,153,800
10,882,700
14,637,500
3,774,000
9,838,000
2,050,000
86,740,000
4,000
257,141,636
73,084,845
112,475,450
80,879,000
225,034,500
582,725,000
1,025,510,000
36,000
250,778,364
50,115,155
71,358,850
17,065,000
61,346,500
81,315,000
146,230,000
3,035,099,300
170,080,000
2,356,854,431
678,244,869
107,760,000
107,800,000
67,280,000
575,200,000
12,000 000^
135,200,000
15,600,000
199,434,300
6,100,000
104,044,000
14,300,000
300,681,000
17,000,000
681,040,000
138,320,000 1,310,060,000
9,618,840
60,820,260
11,447,400
14,144,000
.3,640,500
10,195,000
16,165,000
110,790,000
9,622,840
317,961,896
84,532,245
126,619,450
84,519,500
235,229,500
598,890,000
1,136,300,000
98,177,160
257,238,104
50,667,755
72,814,850
19,524,500
65,451,500
82,150,000
173,760,000
378,360 000 3,413,459,300
Total.
Total issued.
288,545,000
. 1906.
Twenty dollars
Fifty dollars
One hundred dollars...
Five hundred dollars..
One thousand dohars..
Five thousand dollars.
Ten thousand dollars..
Issued during year.
200,830,000
Denomination.
236,821,000
2,593,675,431
819,783,869
Total
redeemed.
Outstanding.
$214,987,836 $198,132,164
62,202,145
43,397,855
97,837,950
63,596,350
77,105,000
15,739,000
215,196,500
59,684,500
580,675,000
58,360,000
938,770,000 120,870,000
1908,
Ten dollars
Twenty dollars
Fifty dohars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
1909.
Ten dollars
Twenty dohars
Fifty dohars
One hundred dollars...
Five hundred dollars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
147,280,000
620,560,000
141,800,000
213,434,300
105,894,000
'316,181,000
704,040,000
1,458,980,000
31,261,540
40,884,380 106,395,620
69,893,560
387,855,456 232,704,544
12,396,800
96,929,045
44,870,955
16,806,600
143,426,050
70,008,250
3,690,500
88,210,000
17,684,000
11,758,000
69,193,500
246,987,500
. 6,505,000
98,645,000
605,395,000
109,580,000 1,245,880,000, 213,100,000
294,710,000
, Total.
39,480,000
45,360,000
6,600,000
14,000,000
1,850,000
15,500,000
23,000,000
148,920,000
3,708,169,300
.261,892,000
2,855,567,431
852,601,869
88,868,000
66,640,000
12,200,000
19,600,000
950,000
8,700,000
86,220,000
236,148,000
687,200,000
154,000,000
233,034,300
106,844,000
324,881,000
704,040,000
1,545,200,000
42,600,470
65,471,280
10,931,800
17,212,450
3,247,000
10,505,000
14,265,000
108,610,000
83,484,850
453,326,736
107,860,845
160,638,500
91,457,000
257,492,500
619,660,000
1,354,490,000
152,663,150
233,873,264
46,139,155
72,395,800
15,387,000
67,388,500
•84,380,000
190,710,000
283,178,000
3,991,347,300
272,843,000
3,128,410,431
862,936,869
1910.
Ten dollars.
Twenty dollars.
Fifty dollars
One hundred dohars...
Five hundred dohars..
One thousand dollars..
Five thousand dollars.
Ten thousand dollars..
Total.
207
TREASURER.
No.
3 5 . — S I L V E R CERTIFICATES OF EACH DENOMINATION I S S U E D , R E D E E M E D , AND
OUTSTANDING AT THE CLOSE OF EACH FISCAL Y E A R PROM 1902.
Denomination.
1902.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
Onehundred dollars..
Five hundred dollars.
One thousand dollars.
Total.
Issued during year.
Total issued.
Redeemed
during year.
$59,676,000
31,072,000
141,800,000
2,960,000
$351,776,000
198,440,000
758,640,000
563,554,000
289,506,000
67,650,000
81,540,000
16,650,000
32,490,000
$51,337,586.00
27,694,254. 00
83,880,680,00
37,377,730,00
12,722,300,00
2,793,650,00
597,300,00
13, 500,00
108,000,00
235,508,000
2,360,246,000
216,525,000,00
Total
redeemed.
Outstanding.
$284,081 805,90 $67,694 194.10
158,562,722. 60 39,877: 277.40
525,011 787. 50 233,628' 212.50
71,184 111. 00
492,369: 889,00
33,102 350.00
256,403: 650,00
6,024 735.00
61,625' 265.00
2,220 620.00
79,319 380.00
69 500. 00
16,580^ 500.00
196 ,000.00
32,294; 000,00
1,906,249,000,00
453,997,000.00
1903.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fiftydollars
One hundred dollars..
Five hundred dollars..
One thousand dollars.
Total
75,612,000
38,016,000
157,420,000
1,960,000
64,006,011,00
427,388,000
33,303,089,00
236,456,000
916,060,000 127,023,145,00
26,191,330.00
565,514,000
289,506,000- . 9,555,200.00
1,723,625.00
67,650,000
427,600.00
81,540,000
12,000.00
16,650,000
57,000.00
32,490,000-
79,.300,183.10
348,087,816,90
44,590,188.40
191,865,811,60
652,034,932. 50 264,025,067.50
46,952,781,00
518,561,219.00
265,958,850. 00 23,547, 150,00
63,348,890,00
>4,301: 110.00
79,746,980.00
1,793: 020. 00
16,592,500.00
57: .500.00
32,351,000.00
139: 000.00
273,008,000
2,633,254,000
262,299,000.00
81,320,000
41,016,000
178,080,000
9,000,000
1,360,000
1,800,000
508,708,000
277,472,000
1,094,140,000
574,514,000
290,866,000
69,450,000
81,540,000
16,650,000
32,490,000
79,913 407.00
40,414, 738.00
160,263 175.00
17,85i; 850.00
6,876 530. 00
1,125,300.00
320, 000. 00
10, 000.00
31, 000. 00
312,576,000
2,945,830,000
306,806,000,00
95,640,000
45,200,000
175,460,000
604,348,000
322,672,000
1,269,600,000
574,514,000
290,866,000
69,450,000
81,540,000
16,650,000
32,490,000
86,241,703,00
42,202,062.00
172,329,775.00
13,739,410.00
5,139,500.00
1,580,150.00
240,400.00
5,000.00
33,000.00
316,300,000
3,262,130,000
321,511,000.00
2,796,865,000.00
465,265,000.00
102,512,000
40,544,000
178,100,000
706,860,000
363,216,000
1,447,700,000
574,514,000
290,806,000
69,450,000
81,540,000
16,650,000
32,490,000
91,596,877,00
41,561,298,00
164,148,335,00
7,510,110,00
3,014,480,00
910,700,00
190,200,00
4,000,00
12,000,00
605,839,803.90
316,043,909.60
1,148,776,217.50
557,662, 589.00
280,989, 360.00
66,965, 040.00
80,497,580,00
16,611,500,00
32,427,000,00
101,020,196.10
47,172,090,40
298,923,782.50
16,851,411.00
9,876,640.00
2,484,960,00
1,042,420.00
38,500.00
63,000.00
321,156, Opo
3,583,286,000
308,948,000,00
3,105,813,000.00
477,473,000,00
101,996,000
48,752,000
153,960,000
808,856,000
411,968,000
1,601,660,000
574,514,000
290,866,000
69,450,000
81,540,000
16,650,000
32,490,000
94,964,739,00
40,899,996,00
163,279,185,00
4,454,890,00
2,041,090,00
613,100,00
135,000.00
3,000,00
13,000.00
700,804,542.90
356,943 905.60
1,312,055: 402.50
562,117; 479.00
283,030, 450.00
67,578, 140.00
80,632 580.00
16,614,500.00
32,440,000.00
108,051,457.10
55,024,094.40
289,604,597.50
12,396,521.00
7,835,550.00
1,871,860.00
907,420,00
35,500,00
50,000,00
304,708,000
3,887,994,000
306,404,000.00
3,412,217,000.00
475,777,000,00
2,168,548,000.00
464,706,000,00
1904.
One dollar
Twodollars
Fivedollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars.
One thousand dollars.
Total
80,706,776,10
428,001,223.90
232,280, 549. 60 45,191,450, 40
812,298, 107.50 281,841, 892. 50
38,100,931. 00
536,413, 069,00
272,835, 380.00
18,030, 620.00
64,474, 190.00
4,975,810. 00
1,473,020.00
80,066 980.00
16,602, 500.00
47, 500.00
32,382, 000.00
108,000.00
2,475,354,000.00
470,476,000.00
1905.
One dohar
Twodollars.
Fivedollars...:
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars.
One thousand dollars.
Total'.
514,242, 926. 90 90,105,073.10
274,482, 611. 60 48,189,388.40
984,627,882.50 284,972,117,50
550,152,479.00
24,361,-521,00
00
277,974,
12,891,120.00
3,395,660.00
66,054, 340.00
1,232,620. 00
80,307, 380.00
42,500.00
16,607,500.00
75, 000.00
32,415,000.00
1906.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars.
One thousand dollars.
Total
1907.
One dollar
Two dollars
Fivedollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars..
Five hundred dollars.
One thousand dollars.
Total
208
REPORT ON T H E FINANCES.
N o . 3 5 . — S I L V E R CERTIFICATES OP EACH D E N O M I N A T I O N I S S U E D , R E D E E M E D , AND
OUTSTANDING AT THE CLOSE OF EACH FISCAL Y E A R FROM 1902—Continued. .
Issued d u r ing year.
Denomination.
, 1908.
One dollar
$106,832,000
T w o dollars
46,064,000
Fivedollars
125,100,000
T e n dollars '.
8,800,000
T w e n t y dollars
8,960,000
Fiftydollars....
.6,600,000
One h u n d r e d dohars
F i v e h u n d r e d dollars
One t h o u s a n d d o l l a r s . . . .
Total
T o t a l issued.
•
Redeemed
during year.
$915,688,000 $102,077,663,00
458,032,000 .45,044,352.00
1,726,760,000 151,075,315.00
583,314,000
3,001,410,00
299,826; 000
2,022,260,00
76,050,000
430,000.00
81,540,000
120,000,00
16,650,000
5,000,00
7 000.00
32,490,000
Total
redeemed.
Outstanding.
$802,882,205.90 $112,805,794.10
401,988 257.60
56,043,742.40
1,463,130,717.50 263,629,282.50
565,118,889.00
18,195,111.00
285,052,710,00
14,773,290,00
68,008,140.00
8,041,860,00
80,752,580.00
787,420,00
30,500,00
16,619,500.00
43,000,00
. 32,447 000.00
302,356,000
4,190,350,000
303,783,000.00
3,716,000,000,00
474,350,000.00
127,768,000
49,832,000
124,980,000
25,680,000
1,043,456,000
507,864,000
1,851,740,000
608,994,000
299,826,000
84,650,000
81,540,000
16,650,000
-32,490,000
116,432,634.00
49,595,506,00
142,599 070.00
10,053 290.00
3,863,900.00
4,140,300.00
100,800.00
2,500.00
8 000.00
919,314,839,90
451,583,763,60
1,605,729,787.50
575,172,179.00
288,916,610.00
72,148,440,00
80,853,380,00
16,622,000,00
32,455,000.00-
124,141,160.10
56,280,236.40
246,010,212.50
33,821,821.00
10,909,390.00
12,501,560,00
686,620,00
28,000.00
35,000,00
336,860,000
4,527,210,000
326,796,000.00
4,042,796,000,00
484,414,000.00
151,907,600
56,020,000
136,270,000
7,800,000
1,195,363,600 135,229,421.00
52,538,064.00
563,884,000
1,988,010,000 138,718,915.00
14,723,550.00
616,794,000
3,188,800.00
299,826,000
4,802,950.00
86,650,000
83,400.00
81,540,000
1,500.00
16,650, OCO
8,000.00
32,490,000
1,054,544,260,90
504,121,827,60
1,744,448,702.50
589,895,729.00
292,105,410.00
76,951,390.00
80,936,780.00
16,623,500.00
32,463,000.00
140,819,339.10
59,762,172,40
243,561,297,50
26,898,27L00
7,720,590,00
9 698,610.00
603,220,00
'
26,500,00
27,000,00
349,294,600.00
4,392,090,600.00
489,117,000,00
1909.
One dollar
T w o dollars
F i v e dollars
T e n dollars.
T w e n t y dollars
Fiftydollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d d o l l a r s . . .
Total
8,600,000
1910.
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
Five hundred dollars...
One thousand dollars...
Total.
2,000,000
353,997,600
4,881,207,600
N o , 3 6 . — A M O U N T OF U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , GOLD AND SILVER
CERTIFICATES OP EACH DENOMINATION I S S U E D , R E D E E M E D , AND OUTSTANDING AT
THE CLOSE OF EACH FISCAL Y E A R FROM 1902.
Issued durT o t a l issued.
ing year.
Denomination,
Redeemed .
d u r i n g year.
. Total
redeeraed.
Outstanding.
1902.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
Five hundred dollars...
O n e t h o u s a n d dollars
Five thousand dollars..
T e n t h o u s a n d dollars
$59,676,000 $604,844,160 $52,457,502.00 $534,044,600,70
392,619,759,80
435,011,048 28,868,443.00
31,072,000
141,800,000 1,472,201,760 112,494 045.00 1,199,256 655,50
104,080,000 1,424,565,240 86,417,220.00 1,147,238 008,00
806,981 814.00
47,840,000 1,014,748,400 45,998,990.00
226,297,835.00
• 8,800,000 267,240,200
9,708,350.00
319,610,330,00
12,400:000
372,478,300 10,500,800.00
287,097,500.00
4,700,000
5,602,250.00
309,170,000
650,089,500.00
11,800,000
722,267,000 13,756,000.00
593,025,000,00
2,000,000
740 000.00
623,035,000
712,040,000.00
42,740,000
801,000,000 41,540,000.00
Total
Unknown, destroyed.
466,908,000 8,046,561,108 408,083,600.00 6,868,301,003.00 1,178,260,105.00
1,000,000,00
1,000,000,00
$70,799,559.30
42,391,288.20
272,945,104,50
277,327,232,00
207,766,586,00
40,942,365.00
52,867,970.00
22,072,500.00
. 72,177,500.00
30,010,000.00
88,960,000.00
.•
Net
•
466,908,000 8,046,561,108 408,083,600.00 6,869,301,003,00 1,177,260,105,00
1903.
One dohar
Twodollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
598,436,338,70
680,456,160 64,391 738.00
75,612,000
426,318,739,80
473,027,048 33,698,980.00
38,016,000
157,420,000 1,629,621,760 143,090,702.00 1,342,347,357,50
111,560,000 1,536,125,240 100,108,030,00 1,247,346,038.00
860,056 234.00
69,520,000 1,084,268.400 53,074 420.00
237, .339,535,00
281,440;200 11,041,700.00
14,200,000
333,236,980,00
391,678,300 13,626,650,00
19,200,000
291,815,500.00
4,718,000.00
312,670,000
3,500,000
82.019,821,30
46; 708,308,20
287,274,402,50
288,779,202.00
224,212,166.00
44,100,665.00
58,441,320,00
20,854,500.00
209
TBEASUBEB.
N o . 36.—^AMOUNT OP U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , GOLD AND SILVER
CERTIFICATES OF EACH DENOMINATION I S S U E D , R E D E E M E D , AND OUTSTANDING AT
THE CLOSE OF EACH FISCAL Y E A R PROM 1902—Continued.
Denoramation.
Issued d u r - T o t a l issued.
ing year.
Redeemed
d u r i n g year.
Total
redeemed.
Outstanding.
1903.
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
$11,300,000
Total
U n k n o w n , destroyed .
551,038,000 8,597,599,108 488,558,220,00 7,356,859,223.00 1,240,739,885.00
1,000,000.00
1,000,000.00
50,710,000
$733,567,000 $10,573,000,00
623,035,000
i, 575,000.00
851;710,000 52,660,000,00
$660,662,500,00
594,600,000.00
764,700,000.00
$72,904,500,60
28,435,000, 00
87,010,000,00
551,038,000 8,597,599,108 488,558,220,00 7,357,859,223.00 Ij 239,739,885.00
Net
1904.
83,255, 212,30
47,138,952.20
296,763, 432.50
288,995, 262.00
226,164, 716.00
45,398,590,00
64.027, 420.00
24; 814,500.00
82,672,500.00
49,425, 000.00
116,770,000.00
O n e dollar
T w o dollars
F i v e dollars
T e n dollars.
T w e n t y dollars
Fifty dollars .
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
761,776,160 80,084,609.00
81,320,000
678,520,947.70
514,043,048 40,585,356.00
41,016,000
466,904,095.80
178,080,000 1,807,701,760 168,590.970.00 1,510,938,327.50
117,440,000 1,653,565,240 117,223; 94.0. 00 1,364,569,978.00
922,023, 084.00
63,920,000 1,148,188,400 61,967,450,00
249,241, 610.00
13,200,000
294,640,200 11,902,075,00
348,660,880.00
21,010,000
412,688,300 15,423,900,00
296,255,500.00
8,400,000
321,070,000
4.440,000.00
072,104,600.00
21,210,000
754,777,000 11; 442,000.00
596,610,000,00
23,000,000
646,035,000
2,010,000.00
816,370,000.00
81,430,000
933,140,000 51,670,000.00
Total
U n k n o w n , destroyed
650,026,000 9,247,625,108 565,340,300.00 7,922,199,523. 00 1,325,425,585.00
1,000,000.00
1,000,000.00
Net
650,026,000 9,247,625,108 565,340,300.00 7,923,199,523.00 1,324,425,585.00
1905.
764,864,316. 70
857,416,160 86.343,369.00
509,202,236.80
559,243,048 42; 298,141.00
1,983,161,760 176,479,500.00 1,687,417,827.50
1,779,885,240 122,869, 670.00 1,487,439,648.00
986,530,754.00
1,202,428,400 64,507,070.00
261,639,260.00
311,040,200 12,397,650.00
364,309,080.00
435,888,300 15,648,200.00
300,924,500.00
323,870,000
4,669,000.00
682,788,500.00
763,287,000 10,684,000.00
598,620,000.00
653,285,000
2,010,000.00
901,490,000.00
1,015,660,000 85,120,000.00
92,551,843.30
50,040,811.20
295,743,932.50
292,445,592.00
215,897, 646.00
49,400,940.00
71,579,220.00
22,945,500.00
80,498,500.00
54,665,000.00
114,170,000,00
O n e dollar
T w o dollars
F i v e dollars
.*
T e n dollars
T w e n t y dollars
Fifty dollars .
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
95,640,000
45,200,000
175,460,000
126,320,000
54,240,000
16,400,000
23,200,000
2,800,000
8,510,000
7,250,000
82,520,000
Total
U n k n o w n , destroyed
637,540,000 9,885,165,108 623,026,600.00 8,545,226,123.00 1,339,938,985.00
1,000,000.00
1,000,000.00
Net
637,540,000 9,885,165,108 623,026,600.00 8,546,226,123,00 1,338,938,985.00
1906.
O n e dollar
Twodollars
F i v e dollars.
T e n dollars
T w e n t y dollars.
Fiftv dollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
102,512,000
40,544,000
178,100,000
107,840,000
66,000,000
12,200,000
16,800,000
4,900,000
11,200,000
5,750,000
83,980,000
Total.
U n k n o w n , destroyed
629,826,000 10,514,991,108 577,445,100.00 9,122,671,223.00 1,392,319,885 00
1,000,000.00
1,000,000.00
Net
1907.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars.
T w e n t y dollars
Fiftv dollars .
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
629,826,000 10,514,991,108 577,445,100.00 9,123,671,223.00 1,391,319,885.00
Total
U n k n o w n , destroyed
698,273,000 11,213,264,108 582,902,000.00 9,705,573,22,3.00 1,507,690,885.00
1,000,000.00
1,000,000.00
Net
101,996,000
48,752,000
154,660,000
104,360,000
94,800,000
17,600,000
22,400,000
5,100,000
11,500,000
25,005,000
112,100,000
856,525,956.70
959,928,160 91,661,640.00
599,787,048 41,623,185.00 . 550,825,421.80
2,161,261,760 166,318,545.00 1,853,736,372.50
1,887,725,240 104,293,290.00 1,591,732,938.00
1,268,428,400 51,239,140.00 1,037,769,894.00
273,403,460.00
323,240,200 11,764,200.00
380,428,180.00
452,688,300 16,119,100.00
305,248,500.00
328,770,000
4,324,000.00
693,575,500.00
774,487,000 10,787,000.00
600,665,000.00
659,035,000
2,045,000.00
978,760,000.00
1,099,640,000 77,270,000.00
1,061,924,160 95,008,371.00
951,534,327.70
648,539,048 40,943,864.00
591,769,285.80
2,315,921,760 164,605,490.00 2,018,341,862.50
1,992,085,240 101,971,665.00 1,693,704,603.00
1,363,228,400 48,180,260.00 1,085,950,154.00
285,384,610.00
340,840,200 11,981,150.00
396,285,380.00
475,088,300 15,857,200.00
309,655,500.00
333,870,000
4,407,000.00
704,732,500.00
785,987,000 11,157,000.00
684,040,000
2,050,000.00
602,715,000.00
1,211,740,000 86,740,000.00 1,065,500,000.00
103,402,203.30
43,961,626.20
307,525,387 50
295,992,302.00
230,658,506.00
49,836,740.00
72,260,120.00
23,521,500.00
80,911,500,00
58,370,000.00
120,880,000.00
110,389,832.30
56,769,762.00
297,579,897.50
298,380,637.00
277,278,246.00
55,455,590.00
78,802,920.00
24,214,500.00
81,254,500.00
81,325,000.00
146,240,000.00
698,273,000 11,213,264,108 582,902,000.00 9,706,573,223.00 1,506,690,885,00
65872°—FI 1910- -14
210
REPORT ON T H E FINANCES.
N o . 3 6 . — A M O U N T OP U N I T E D STATES N O T E S , T R E A S U R Y N O T E S , GOLD AND SILVER
CERTIFICATES OF EACH DENOMINATION I S S U E D , R E D E E M E D , AND OUTSTANDIISTG AT
THE CLOSE OP EACH FISCAL Y E A R FROM 1902—Continued.
Redeeraed
d u r i n g year.
Total
redeemed.
Outstanding.
$102,120,315.00
45,083,850.00
160,809,755,00
115,972,370.00
66,320,660.00
12,347,650.00
15,415,900.00
5,505,500,00
14,679,000,00
16,1-75,000,00
110,790,000.00
$105,365,464,270
636,853,135,80
2,179,151,617.50
1,809,676,973,00
1,152,270,814.00
297,732,260,00
411,701,280,00
315,161,000,00
719,411,500,00
618,890,000,00
1,176,290,000,00
$115,101,517.30
57,749,912.20
340,090,142,50
321,448,267,00
290,077,586,00
61,707,940,00
81,187,020,00
25,159,000.00
98,355,500,00
82,150,000,00
173,770,000,00
Issued durT o t a l issued.
ing year.
Denomination.
1908.
O n e dollar
:
T w o dollars
.. .
F i v e dollars
T e n dollars
T w e n t y dollars. . .
Fifty dollars...
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dohars
$106,832,000
46,064,000
203,320,000
139,040,000
79,120,000
18,600,000
17,800,000
6,450,000
31,780,000
17,000,000
138,320,000
$1,168,756,160
694,603,048
2,519,241,760
2,131,125,240
1,442,348,400
359,440,200
492,888,300
340,320,000
817,767,000
701,040,000
1,350,060,000
804,326,000 12,017,590,108 665,220,000,00 10,370,793,223,00 1,646,796,885,00
1,000,000,00
1,000,000,00
Total
U n k n o w n , destroyed
804,326,000 12,017,590,108 665,220,000,00 10,371,793,223,00 1,645,796,885,00
Net
1909.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
..
Fifty dollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
.
127,768,000
49,832,000
175,500,000
119,600,000
49,680,000
15,200,000
15,060,000
4,150,000
35,800,000
23,000,000
148,920,000
1,296,524,160
744,435,048
2,694,741,760
2,250,725,240
1,492,028,400
374,640,200
507,948,300
344,470,000
853,567,000
724,040,000
1,498,980,000
116,467,587,00
49,628,478,00
180,654,915,00
126,075,640,00
78,582,080,00
16,904,600.00
18,389,700.00
4,237,000.00
15,370,000.00
6,505,000.00
109,580,000,00
126,401,930,30
1,170,122,229.70
57,953,434,20
686,481,613.80
2,359,806,532.50 - 334,935,227,50
314,972,627,00
1,935,752,613.00
261,175,506,00
1,230,852,894.00
60,003,340,00
314,636,860.00
77,857,320,00
430,090,980,00
25,072,000,00
319,398,000.00
118,785,500,00
734,781,500.00
98,645,000,00
625,395,000,00
213,110,000,00
1,285,870,000.00
Total
U n k n o w n , destroyed
764,510,000 12,782,100,108 722,395,000.00 11,093,188,223.00 1,688,911,885,00
1,000,000,00
1,000,000,00
Net
1910.
O n e dollar '.
T w o dollars
F i v e dollars
T e n dollars
•.
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
Five hundred d o h a r s . . . . . . .
O n e t h o u s a n d dollars
.. .
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
764,510,000 12,782,100,108 722,395,000,00 11,094,188,223,00 1,687,911,885.00
151,907,600
56,020,000
214,460,000
139,648,000
74,080,000
14,200,000
20,930,000
950,000
8,700,000
Total-.
U n k n o w n , destroyed
767,115,600 13,549,215,708 752,620,600.00 11,845,808,823,00 1,703,406,885,00
1,000,000.00
1,000,000.00
Net..
No. 37.
;
1,448,431,760
800,455,048
2,909,201,760
2,390,373,240
1,566,108,400
388,840,200
528,878,300
345,420,000
862,267,000
724,040,000
86,220,000 1,585,200,000
135,252,279,00
52,561,146,00
190,201,135.00
124,052,940.00
72,975,300.00
16,039,600,00
18,752,700,00
4,191,500,00
15,719,000,00
14,265,000,00
108,610,000,00
1,305,374,508.70
739,042,759.80
2,550,007,667,50
2,059,805,553.00
1,303,828,194.00
330,676,460.00
448,843,680.00
323,589,500.00
750,500,500,00
639,660,000,00
1,394,480,000,00
143,057,251.30
61,412,288.20
359,194,092,50
330.567,687,00
262;280,206,00
58,163,740,00
80,034,620,00
21,830,500,00
111,766,500.00
84,380,000,00
190,720,000,00
767,115,600 13,549;215,708 752,620,600,00 11,846,808,823.00 1,702,406,885.00
- A M O U N T OF P A P E R CURRENCY OF EACH DENOMINATION OUTSTANDING AT
THE CLOSE O F EACH FISCAL Y E A R PROM 1902.
Legal-tender
notes.
Denomination.
1902.
O n e dollar
Two d o l l a r s . . .
Fivedollars
T e n dollars
T w e n t y dollars
Fiftydollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
Total
U n k n o w n , destroyed
Net..
..
J
Certificates,
National-bank
notes.
Total.
$67,694,194
39,877,278
233,628,212
71,184,III
148,629,734
31,274,140
34,190,920
12,814,000
42,336,500
30,000,000
88,950,000
$346,371
166,170
54,620,050
143,883,370
107,488,120
16,241,000
33,768,300
98,500
25,000
$71,145,930
42,557,459
327,565>154
421,210,602
315,254,706
57,183,365
86,636,270
22,171,000
72,202,500
30,010,000
88,960,000
377,681,016
1,000,000
• 800,579,089
.356,636,881
1,534,896,986
1,000,000
376,681,016
800,579,089
356,636,881
1,533,896,986
$3,105,365
2,514, Oil
39,316,892
206,143,121
59,136,852
9,668,225
18,677,050
9,258,500
29,841,000
10,000
10,000.
211
TREASURER.
No.
3 7 . — A M O U N T OF P A P E R CURRENCY OF EACH DENOMINATION OUTSTANDING AT'
THE CLOSE OF EACH FISCAL Y E A R FROM 1902—Continued.
Legal-tender
notes.
Denomination,
1903.
O n e dollar
Two dollars..
F i v e dollars:
T e n dollars
T w e n t y dollars
Fifty dollars
Ohe h u n d r e d dollars
F i v e h u n d r e d dollars. .
One t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
Certificates,
National-bank
notes.
Total.
$2,719,638
2,118,120
23,249,335
241,826,421
43,993,252
6,743,550
13,183,200
7,701,500
25,369,000
10,000
10,000
$79,300,184
44,590,188
264,025,067
46,952,781
180,218,914
37,357,115
45,258,120
13,153,000
47,535,500
28,425,000
87,000,000
$345,959
165,960
61,798,905
172,263,760
127,446,540
16,676,550
34,815,200
96,500
25,000
$82,365,781
46,874,268
349,073,307
461,042,962
351,658,706
60,777,215
93,256,520
20,951,000
72,929,500
28,435,000
87,010,000
366,924,016
1,000,000
873,815,869
413,634,374
1,654,374,259
1,000,000
365,924,016
873,815,869
413,634,374
1,653,374,259
2,548,436
1,947,502
14,921,540
250,894,331
38,213,532
5,845,075
11,459,600
9,694,000
25,115,000
10,000
10,000
80,706,777
45,191,450
281,841,892
38,100,931
187,951,184
39,553,515
52,567,820
15,120,500
57,557,500
49,415,000
116,760,000
345,145
165,282
62,827,170
189,305,960
141,904,240
17,591,500
36;939,000
95,500
24,000
83,600,358
47,304,234
359,590,602
478,301,222
368,068,956
62,990,090
100,966,420
24,910,000
82,696,500
49,425,000
116,770,000
360,659,016
1,000,000
964,766,569
' 449,197,797
1,774,623,382
1,000,000
359,659,016
964,766,569
449,197,797
1,773,623,382
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
2,446,771
1,851,422
10,771,815
268,084,071
28,559-, 362
4,720,825
9,186,750
8,461,000
22,992,000
10,000
10,000
90,105,074
48,189,388
. 284,972,117
• 24,361,521
. 187,338,284
44,680,115
62,392,470
14,484,500
57,506,500
54,655,000
114,160,000
344,669
164,992
68,473,495
211,148,110
158,704,700
18,238,850
38, 487,500
95,000
24,000
92,896,514
50,205,802
364,217,427
503,593,702
374,602,346
67,639,790
110,066,720
23,040,500
80,522, 500
54,665,000
114,170,000
Total
U n k n o w n , destroyed
357,094,016
1,000,000
982,844,969
495,681,316
1,835,620,301
1,000,000
356,094,016
982,844,969
495,681,316
1,834,620,301
2,382,007
1,789,536
8,601,605
279,140,891
22,649,702
3,953,925
7,621,350
7,744,000
21,164.000
10,000
10,000
101,020,197
47,172,090
298,923,782
16,851,411
208,008,804
45,882,815
64,638,770
15,777,500
59,747,500
58,360,000
120,870,000
344,352
164,806
76,889,175
240,007,710
181,097,620
19,934,800
42,515,600
94,500
24,000
103,746,556
49,126,432
• 384,414,562
536,000,012
411,756,126
69,771,540
114,775,720
23,616,000
80,935,500
58,370,000
120,880,000
355,067,016
1,000,000
1,037,252,869
561,072,563
1,953,392,448
1,000,000
354,067,016
1,037,252,869
561,072,563
1,952,392,448
2,338,375
1,745,668
7,975,300
285,948,116
18,664,332
108,051,458
55,024,094
289,604,597
12,432,521
258,613,914
344:, 249
164,708
113,826,705
247,378,750
183,971,240
110,734,082
56,934,470
411,406,602
545,759,387
461,249,486
.
Total
U n k n o w n , destroyed
Net..-.
1904,
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars. .
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars.
T e n t h o u s a n d dollars
. . ; .
Total
U n k n o w n , destroyed
Net
... .
1905,
Net
.
1906,
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars.
Total
UnknoMm, destroyed
Net
:
1907.
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dohars
212
REPORT ON T H E FINANCES.
N o . 37.
- A M O U N T OP P A P E R CURRENCY OF EACH D E N O M I N A T O N OUTSTANDING AT
THE CLOSE OF EACH FISCAL Y E A R FROM 1902—Continued.
•
Legal-tender
notes,
Denomination.
1907.
Fifty dohars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
Certificates.
National-bank
notes.
Total.
$18,239,300 . $73,694,890
39,705,100
118,508,020
93,000
• 24,307,500
24,000
81,278,500
81,325,000
146,240,000
$3,468,575
6,536,650
7,114,000
19,858,000
10,000
10,000
$51,987,015
72,266,270
17,100,500
61,396,500
81,315,000
146,230,000
353,669,016
1,000,000
1,154,021,869
603,747,052
352,669,016
1,154,021,869
•
603,747,052
2,295,723
1,706,170
76,460,860
205,075,996
18,066,192
2,998,325
7,584,750
5,604,000
32,861,000
112,805,795
56,043,742
263,629,282
116,372,271
272,011,394
58,709,615
73,602,270
• 19,555,000
65,494,500
82,150,000
173,760,000
343,878
164,470
147,594,415
288,381,100
202,533,280
18,369,150
40,787,300
93,000
24,000
115,445,396
57,914,382
487,684,557
609,829,367
492,610,866
80,077,090
121,974,320
25,252,000
98,379,500
82,150,000
173,770,000
352,663,016
1,000,000
1,294,133,869
698,290,593
2,345,087,478
1,000,000
351,663,016
1,294,133,869
698,290,593
2,344,087,478
2,260,770
1,673,198
88,925,015
174,755,186
17,561,572
2,630,825
7,162,450
7,360,000
' 49,557,000
124,141,161
56,280,236
246,010,212
140,217,441
243,613,934
57,372,515
70,694,870
17,712,000
69,228,500
98,645,000
213,100,000
343,613
164,322
136,436,440
297,260,690
200,682,100
16,857,300
38,016,200
91,000
23,000
126,745,544
58,117;756
.471,371,667
612,233,317
461,857,606
76,860,640
115,873,520
25,163,000
118,808,-500
98,045,000
213,110,000
351,896,016
1,000,000
1,337,015,869
689,874,665
2,378,786,550
1,000,000
350,896,016
1,337,015,869
689,874,665
2,377,786,550
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
2,237,912
i;650,116
115,632,795
.151,006,266
20,686,352
2,325,975
7,035,600
6,417,000
44,351,000
140,819,340
59,762,172
243,561,297
179,561,421
241,593,854
55,837,765
72,999,020
15,413,500
67,415,500
84,380,000
190,710,000
. 343,610
164,320
139,864; 175
311,269,990
211,974,920
16,033,000
36,383,000
90,000
23,000
143,400,862
61,576,608
499,058,267
641,837,677
474,255,126
74,196,740
116,417,620
21,920,500
111,789,500
84,380,000
190,720,000
Total... .
U n k n o w n , destroyed
351,353,016
1,000,000
1,352,053,869
716,146,015
0 2,762,692
2,419,552,900
3,762,692
350,353,016
1,352,053,869
713,383,323
2,415,790,208
.»
Total
U n k n o w n , destroyed
Net
. . .
2,111,437,937
1,000,000
^2,110,437,937
.1908.'
One dollar
T w o dollars
..
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars.
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
Total..
U n k n o w n , destroyed
:
10,000
'.....
Net
1909.
One dollar
T w o dollars
F i v e dollars
T e n dollars
. .1
T w e n t y dollars
Fiftydollars..
O n e h u n d r e d dollars
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
F i v e t h o u s a n d dollars
T e n t h o u s a n d dollars
Total
U n k n o w n , destroyed
Net
"....
. .
10,000
.\
.
- 1910,
Net
10,000
a Redeemed, but not assorted by denominations.
213
TBEASUBEB.
No.
3 8 . — O L D DEMAND NOTES OF EACH DENOMINATION I S S U E D , R E D E E M E D , AND
OUTSTANDING J U N E 30, 1910,
Redeemed
Total issued. during year. Total redeeraed. Outstanding.
Denomination.
Total
'
60,030,000
.
$21,778,622.50
20,010,235,00
18,187,860.00
$21,377.50
19,765.00
12,140.00
59,976,717.50
$21,800,000
20,030,000
18,200,000
Five dollars
Ten dollars
Twenty dollars
53,282.50
N o . 3 9 . -FRACTIONAL CURRENCY OP EACH DENOMINATION I S S U E D , R E D E E M E D ,
AND OUTSTANDING J U N E 30,
1910.
Redeemed
Total issued. during year. Total redeemed. Outstanding.
Denomination.
Three cents
Five cents
Ten cents
,
Fifteen cents
Twenty-five cents..
Fifty cents
$601,923.90
5,694,717,85
82,198,456.80
5,305,568,40
139,031,482.00
135,891,930.50
$4.54
22.56
357.30
15.00
777.60
788,00
$511,724.32
3,836,229.04
77,142,0.88.73
5,065,590.69
134,763,784.61
132,137,301.45
$90,199.58
1,858,488,81
5,055,768.07
239,977,71
4,267,697,39
3,754,629,05
Total
Unknown, destroyed.
Net
•
368,724,079.45
1,965.00
353,457,318.84
32,000.00
15,266,760.61
32,000.00
368,724,079.45
1,965.00
353,489,318.84
15,234,760.61
N o . 4 0 . -COMPOUND-INTEREST NOTES OF EACH DENOMINATION I S S U E D , R E D E E M E D ,
AND OUTSTANDING J U N E 30,
1910,
Redeeraed
Total issued. during year.
Denomination.
Total
redeeraed.
Outstanding.
$23,285,200
30,125,840
60,824,000
45,094,400
67,846,000
39,420,000
Total
$60
$23,265,370
30,094,190
(50,762,750
45,062,600
67,835,000
39,416,000
$19,830
31,650
61,250
31,800
,11,000
4,000
266,595,440
Ten dollars
Twenty dollars
Fiftydollars
One hundred dollars
Five hundred dollars
One thousand dollars
60
266,435,910
159,530
N O . - 4 1 . - - O N E AND T W O Y E A R NOTES OF EACH DENOMINATION ISSUED, R E D E E M E D ,
AND OUTSTANDING J U N E 30,
Redeemed
Total issued. during year.
Denomination. •
Ten dollars
Twenty dollars
Fifty dollars..
One hundred dollars
Five hundred dollars
One thousand dollars..
Total
Unknown, destroyed
Net
1910,
.
....
.
.
Total
redeeraed.
Outstanding.
$6,200,000
16,440.000
20,945,600
37,804,400
40,302,000
89,308,000
$6,193,980
16,427,820
20,932,300
37,788,600
40,300,500
89,289,000
$6,020
12,180
13,300
15,800
1,500
19,000
211,000,000
210,932,200
10,590
67,800
10,590
211,000,000
2.10,942,790
57,210
214
REPORT ON T H E EINANCES.
N o . 4 : 2 . — U N I T E D STATES P A P E R CURRENCY OP EACH CLASS, T O G E T H E R WITH O N E
AND Two Y E A R N O T E S AND COMPOUND-INTEREST N O T E S , I S S U E D , R E D E E M E D ,
AND OUTSTANDING J U N E 30, 1910.
Issued d u r i n g year.
Class.
T o t a l issued.
Old d e m a n d notes
$60,030,000.
U n i t e d States notes
$129,940,000 4,229 225,808,
T r e a s u r y notes of 1890
447, 435,000.
Gold certiflcates
283,178,000 4,024,347,880.
Silver certificates
353,997,600 4 , ~ " 207,600.
1,473,625,000.
Currency certificates..
F r a c t i o n a l currency
368. 724,079.
One a n d t w o year n o t e s . .
21i;000,000.
Compound-interest n o t e s .
266,595,440.
Total..
Redeened
d u r i n g year.
T o t a l redeemed. O u t s t a n d i n g .
$59,976,717.50
$53,,282,50
$129,940,000.00 3,882,544, 792,00 346,681, 016. Qp
443,763,000,00
3,672: 000.00
543,000,00
272,843,000.00 3,161,411, 011.46 862,936: 869.00
349,294,600,00 4,392,090,600,00 489,117:,000.00
1,473,625,000.00
353,489,318,84 15,234, 760.61
1,965.00
210,942,790.00
57: 210.00
159: 530,00
"""60.* 66 266,435,910.00
767,115,600 15,962,190,807.91 752,622,625.00 14,244,279,139.80 1,717,911,668.11
N o . 4 : 3 . — U N I T E D STATES N O T E S AND T R E A S U R Y N O T E S R E D E E M E D IN GOLD PROM
JANUARY 1 1879, TO J U N E 30, 1910; ALSO IMPORTS AND EXPORTS OP GOLD, B Y
FISCAL Y E A R S , FROM 1896.
U n i t e d States
notes.
Period.
T o t a l t o J u n e 30, 1896
Fiscal year 1897
Fiscal year 1898.
Fiscal year 1899
Fiscal year 1900
Fiscal year 1901
Fiscal year 1902
Fiscal year 1903
Fiscal year 1904
Fiscal year 1905
Fiscal year 1906
Fiscal year 1907
Fiscal year 1908
-
Total for fiscal year 1909..
1909—July
August
September
October
November
December
1910—January
February.
March
April
May
Total.
$426,190,220 $80,073,325
68,372,923
9,828,991
22,301,710
2,696,253
18,645,015
6,997,250
28,637,501
6,960,836
23,776,433
446,678
17,482,590
1,274,590
7,154,718
1,112,527
11,081,068
473,976
11,517,579
340,675
11,452,195
192,810
12,690,887
101,278
21,278,307
41,705
T o t a l t o J u n e 30, 1908
1908—July
August
September
October
November
December
1909—January
February
March
April
May
June
Treasury
notes.
,
June..
T o t a l for fiscal year 1910.;
Aggregate t o J u n e 30,1910
$506,263,545
78,201,914
24,997,963
25,642,265
35,598,337
24,223,111
18,757,180
8,267,245
11,555,044
11,858,254
11,645,005
12,792,165
21,320,012
680,581,146 110,540,894
I m p o r t s of
gold.
E x p o r t s of
gold.
791,122,040
$85,014,780
120,391,674
88,954,603
44,573,184
66,051,187
52,021,254
44,982,027
99,055,368
53,648,961
96,221,730
114,510,249
148,337,321
$40,361,580
15,406,391
37,522,086
48,266,759
53,185,177
48,568,950
47,090,595
81,459,986
92,594,024
38,573,591
51,399,176
72,432,924
2,034,995
1,292,974
1,356,690
978,765
1,702,130
2,428,820
3,340,950
1,424,805
1,515,912
1,139,705
1,356,800
1,411,990
3,810
4,765
950
1,800
4,105
3,815
4,605
1,000
505
2,300
3,050
700
2,038,805
1,297,739
1,357,640
980,565
1,706,235
2,432,635
3,345,555
1,425,805
1,516,417
1,142,005
1,359,850
1,412,690
2,949,179
4,303,847
4,767,051
3,785,705
2,909,883
5,152,732
3,420,183
3,576,444
5,161,648
3,345,861
2,263,721
2,367,735
4,845,272
6,599,742
3,974,391
1,952,574
2,967,795
7,357,707
7,865,356
8,860,814
21,252,462
6,337,994
11,171,265
8,346,446
19,984,536
31,405
20,015,941
44,003,989
91,531,818
1,063,330
1,308,315
.690,627
1,278,105
751,210
857,215
1,104,175
311,140
773,830
649,510
1,267.045
1,640,510
1,555
300
100
200
200
925
1,850
600
500
1,100
1,950
600
1,064,885
1,308,615
690,727
1,278,305
751,410
858,140
1,106,025
311,740
774,330
650,610
1,268,995
1,641,110
3,269,886
5,348,757
2,351,158
7,034,164
3,863,637
2,083,772
2,131,357
3,063,116
4,373,885
2,100,918
3,143,338
4,575,917
16,661,782
9,230,273
7,546,442
9,379,402
15,649,281
10,579,304
6,163,132
2,937,134
1,815,815
36,283,625
718,678
1,598,347
11,704,892
43,339,905
118,563,215
712,260,694 110,582,179
822,842,873
11,695,012
215
TteAStfiKER.
N o . 4:4:.—TREASURY N O T E S OF 1890 R E T I R E D BY REDEMPTION IN SILVER DOLLARS
AND OUTSTANDING, TOGETHER WITH THE SILVER IN THE T R E A S U R Y P U R C H A S E D
BY SUCH N O T E S , FOR EACH MONTH, FROM J A N U A R Y , 1904,
Month.
1904—January
February...
March
April...
May
June
July
August
September..
October.
November..
December...
1905-- J a n u a r y
February...
March
Aprh
May
June
July
August
September.
October
November,..
Deceraber...
1906—January
February..,
March
April...*.
May
June
July
August
S e p t e m b e r .^
October
November..
December..
1907—January
February...
March.
April
May
June
July.
August
September.
October
Noveniber..
December..
1908- J a n u a r y
February..
March
Aprh
May
June
July
August
Septeraber.
October
Noveraber.
December..
1909—January
February..
March
Aprh
May
June
July
August.....
September.
October
November.
December..
1910—January
February..
March
April
May
June
Rethed by
redemption.
$584 000
476; 000
474, 000
385, 000
514, 000
495: 000
325: 000
428; 000
259; 000
353, 000
282, 000
312, 000
317, 000
372, 000
219, 000
246, 000
248, 000
204, 000
.248, 000
181, 000
189 000
174, 000
. 143 000
148, 000
244, 000
117, 000
175, 000
133, 000
157, 000
118: 000
154, 000
103, 000
108: 000
109: 000
85: 000
211: 000
128 000
103 000
103 000
• 100 000
104 000
90 000
97 000
104 000
80 000
94 000
67 000
67 000
79:,000
81 000
79: 000
;ooo
000
000
000
000
000
OOb
000
;ooo
000
;ooo
000
,000
,000
,000
,000
,000
,000
,000
000
000
000
,000
000
000
',000
,000
Outstanding.
$15,322,000
14,846,000
14,372,000
13,987,000
13,473,000
12,978,000
12,653,000
12,225,000
11,966,000
11,613,000
11,331,000
11,019,000
10,702,000
10,330,000
10,111,000
9,865,000
9,617,000
9,413,000
9,165,000
8,984,000
8,795,000
8,621,000
8,478,000
8,330,000
8,086,000
7,969,000
7,794,000
7,661,000
7,504,000
7,386,000
7,232,000
7,129,000
7,021,000
6,912,000
6,827,000
6,616,000
6,488,000
6,385,000
6,282,000
0,182,000
6,078,000
5,988,000
5,891,000
5,787,000
5,707,000
5,613,000
5,546,000
5,479,000
5,400,000
5,319,000
5,240,000
5,152,000
5,070,000
4,982,000
4,903,000
4,847,000
4,767,000
4,705,000
4,649,000
4,596,000
4,525,000
4,468,000
4,398,000
4,329,000
4,274,000
4,215,000
4,169,000
•4,120,000
4,071,000
4,034,000
3,982,000
3,942,000
3,894,000
3,850,000
3,800,000
3,757,000
3,711,000
3,672,000
Bullion in
Treasury.
$7,151,148
7,142,510
5,829,230
5,368,139
5,437,156
5,074,026
4,916,944
3,908,351
3,021,439
2,494,572
1,970,303
1,708,079
1,248,700
927,992
536,672
297,523
91,339
Dollars in
Treasury.
$8,170,852
7,703,490
8,542,770
8,618,861
8,035,844
7,903,974
7,736,056
8,316,649
8,944,561
9,118,428
9,360,697
9,310,921
9,453,300
9,402,008
9,574,328
9,567,477
9,525,661
9,413,000
9,165,000
8,984,000
8,795,000
8,621,000
8,478,000
8,330,000
8,086,000
7,969,000
7,794,000
7,661,000
7,504,000
7,386,000
7,232,000
7,129,000
7,021,000
6,912,000
6,827,000
6,616,000
6,488,000
6,385,000
6,282,000
6,182,000
6,078,000
5,988,000
5,891,000
5,787,000
5,707,000
^5,613,000
5,546,000
5,479,000
5,400,000
5,319,000
5,240,000
5,152,000
5,070,000
4,982,000
4,903,000
4,847,000
4,767,000
4,705,000
4,649,000
4,596,000
4,525,000
4,468,000
4,398,000
4,329.000
4,274,000
4,215,000
4,169,000
4,120,000
4.071,000
4,034,000
3,982,000
3,942,000
3,894.000
3,850;000
3,800,000
3,757,000
3,711,000
3,672,000
Sl6
No.
REPORT ON T H E EtNANCES.
4:5.—TRANSACTIONS BETWEEN THE SUBTREASURY AND CLEARING H O U S E IN
N E W Y O R K DURING EACH MONTH, PROM JANUARY,
1904.
Month.
1904—January
February..
March
Aprh
May
June...
July
August
Septeraber.
October....
November..
Deceraber..
1905—January
February..
March.....
Aprh......
May
June
July
August
September.
October
November..
December..
1906—January
February..,
March
Aprh
May
June
July.
August
September.,
' October
.
November..
December..
1907—January...,.
February...
March
Aprh
May
June
July
August
September..
October
November..
December..
1908—January
February...
March
April,.......
May
June
July
August
September..
October....
November..
December..
1909—January
February...
•March
April
June.
July.......
August
September.
October
November..
December..
1910—January
February.'.
March
April
May
June
Checks s e n t to
clearing house.
Checks received
from clearing
house.
Balances d u e
subtreasury.
$19,869,173.93
19,140,107.08
21,783,531.68
17,329,814.38
51,372,324.51
19,214,667.27
24,360,480. 60
21,814,238.53
26,154,253.26
29,768,061.18
22,559,553.16
23,393,269.24
25,693,779.04
21,615,642.37
31,154,361.29
19,920,879.23
25,860,260,08
-20,659,148.45
27,488,118.04
26,073,192.76
26,972,085,09
28,235,116.35
23,270,632.20
24,309,278.05
25,456,394.18
30,608,404.33
29,174,220.00
23,738,833.42
23,291,358,19
24,473,190.24
25,963,205,01
31,101,688.94
23,917,058,16
31,929,493,03
23,982,729.99
27,274,123.10
23,812,324.68
23,269,992.41
25,062,275.59
23,208,102.21
21,632,532.92
20,864,865,38
28,764,435.33
30,782,311.55
24,983,421.44
33,892,636.66
28,556,591.97
18,862,343.70
20,287,286.27
26,608,121,64
24,802,630,15
23,037,257,40
26,176,221.18
25,848,826.01
30,710,802.27
• 24.764,721.78
34,207,314.96
39,809,942.01
33,263,6.33.61
•30,101,209.32
27,653,803.30
.32,800,185.60
29,194,692.33
27,900,695,19
27,685,647,20
29,989,716,96
38,556,891,36
35,088,909,68
34,719,056,26
40,497,778,12
34,698,563.49
33,641,116,03
29,625,689.28
33,826,200.42
36,925,209.97
30,105,731,00
29,587,059.09
38,220,632.87
$49,200,686,17
44,715,261.15
41,890,705,64
47,787,187.02
72,891,013.31
38,334,047,66
52,133,572.23
45,554,515,56
32,401,519.52
45,538,366.31
39,845,967,94
40,310,027,91
50,860,165.08
36,177,131,46
36,823,355,33
41,531,173,16
36,320,575,76
38,997,108,54
47,223,942,71
40,694,438,55
32,676,093,16
40,686,938.83
32,351,829.68
32,187,315.89
46,716,493,94
31,688,622,75
31,214,215.38
32,776,428.45
29,305,626.23
29,795,611.40
47,068,368,67
41,237,013.83
26,997,138,94
42,556,658.85
30,740,017.18
32,288,780,63
44,822,538.29
34,265,137.69
37,746,229,90
42,994,465,83
38,191,399,28
34,195,552.74
54,054,139.03
41,987,887,40
31,659,037.19
39,110,722,73
16,856,939.93
14,652,801.00
57,084,775.26
52,212,932.49
55,613,884.92
65,924,686.07
66,556-, 169,30
67,218,270.04
76,982,674.93
65,173,055,08
50,725,444.32
63,257,916.35
53,253,192.51
55,842,115.58
78,340,859.97
55,779,637,63
59,668,666,37
58,965,309,45
57,314,410,09
56,147,626,57
64,723,251,30
57,992,969,22
46,277,901.42
51,605,719.54
49,560,130,75
53,237,283.55
64,687,717.44
53,420,898,89
53,553,053.97
52,230,222,78
55,072,019.04
53,410,343.44
$2,042,112.70
'423," 394," 83
4,439,911.95
"i,"iis," 797 "58
2,873,929,05
1,089,120.44
138,791,49
2,504,723.70
72,150.29
3,187,074.84
, 370.30
, 435.92
2,689, 536.49
1,029. 218.17
3,423: 974.43
556 ,894.30
638:,113.11
1,059: 374.77
325; 392.65
7,268; 975.27
3,750; 494.87
1,453, 127,16
724, 748.49
3,348, 367,87
829, 671,56
2,329, 858,22
3,033, 801,96
952, 100,03,
1,250, 514.28
3,035, 260.73
2,140, 926.57
15, 443. 69
. 385, 374.72
835, 695. 58
7, 462.54
163, 051,84
3,546,013,55
3,471,583.68
4,962,869.90
12,161,572,97
4,903,464,78
1,677,327.92
276,154.23
1,003,190.58
992,113.86.
323,035.57
1,276,882.14
937,570.28
805,731.89
830,639.44
1,264,695.09
1,638,285.52
1,738,431.35
177,748.89
360,531.22
759,050,44
1,707,748.8
Balances d u e
clearing house.
$31,373,624.94
25,575,154.07
20,530,568,79
30,457,372.64
25,958,600,75
19,119,380,39
29,488,889,21 23,740,277,03
9,121,195,31
16,859,425,57
17,286,414,75
17,055,550,16
27,671,109,74
14,633,639.38
8,856,068,88
21,610,293,93
12,306,685.98
18,636,396.01
22,425,361,16
15,650,463.96
• 9,127,982,50
13,008,716,78
9,719,310,59
8,937,412.61
21,585,492,41
8,349,193.69
5,790,490.25
10,490,722:19
6,739,016.53
8,670,789.03
21,934,835.22
12,465,183.11
6,113,882.74
11,579,265,85
8,007,801,47
8,049,918.26
23,151,140.18
11,010,588.97
13,069,329.03
20,622,059.20
16,566,328.90
13,493,739,20
25,289,704,30
14,751,589,40
10,147,199,43
10,180,955.97
.461,920,93
693,922,08
36,797,488.99
27,282,138.77
31,087,409.00
42,887,428.67
40,379,948.12
41,369,444.03
47,275,063.24
40,408,333.30
17,510,243.22
23,771,009.91 .
21,266,441.04
20,678,476.54
50,687,056,67
23,785,183,92
30,473,974.04
31,062,614.26
29,628,762,89
26,157,909,61
26,996,999.38
24,168,754.63
13.197.130.68
12,846,372.77
14,861,567.26
19,773,916.41
35,062,028.16
19.955.229.69 .
17,386,894.44
22,124,491,78
25,484,959.95
16,897,459.37
217
TBEASUBEB.
N o . 4 , 6 . — A M O U N T OP EACH K I N D OF M O N E Y U S E D IN SETTLEMENT OF CLEARINGH O U S E BALANCES AGAINST THE SUBTREASURY IN N E W Y O R K DURING EACH
MONTH,, FROM JANUARY, 1904,
Month.
1904—January
February..
March
April
May
June
July
August
September.
October
November.
December..
1905—January
February..
. March
April
May
June
July
August
September.
October
November..
December..
1906—-January
February..
March
Aprh
Gold coin.
$12,500,000
8,300,000
June
July
August
September.
October....
November..
December..
1907—.January
February..
March
April
May...:
June
July
August
September.
October
November.,
December..
1908—January
February...
March
April
May
June
July
August
September.
October
November..
December..
1909—January
February..
March
April
May
June
July
August
September.
October
November..
December..
1910—.Tanuary
February..
March
April
May
June
U n i t e d States
notes.
$21,625
19,154
23,569
21,373
18,601
25,380
21,889
25,277
19,195
22,426
22,415
23,550
24,110
17,639
14,069
21,294
23,686
22,396
16,361
21,464
12,982
22,717
17,311
19,413
22,492
12,194
15,490
17,722
18,017
14,789
20,835
19,183
13,883
16,266
13,801
12,918
20,140
19, 589
19,329
23,059
23,329
24,739
26,704
19,589
• 18,199
15,956
1,921
5,922
27,489
89
119
1, 775,139
128
6,988,134
3,000,123
143
68,103
400,130
101
228,307
4,013,917
12,634,184
11,166,414
5,890,414
5,472,763
3,162,910
5,976,999
8,153, 485
8,097,131
5,703,063
10,761,567
5,483,916
1,132, .028
2,465,230
3,495,394
3,073,492
2,374,960
2,345,459
Treasury
notes.
Gold certificates.
$31,352,000
13,056,000
12,207,000
30,436,000
25,940,000
19,094,000
29,467,000
23,715,000
9,102,000
16,837, 000
17,264,000
17,032,000
27,647,000
14,616,000
8,842,000
21,589,000
12,283,000
18,614,000
22,409,000
15,629,000
9,115,000
12,986,000
9,702,000
8,918,000
21,563,000
8,337,000
5,775,000
10,473,000
6,721,000
8,656,000
21,914,000
12,446,000
6,100,000
11,563,000
7,994,000
8,037,000
23,131,000
10,991,000
13,050,000
20,599,000
16,543,000
13,469,000
25,263,000
14,732,000
10,129,000
10,165,000
460,000
688,000
36,770,000
27,282,050
31,087,290
41,112,290
40,379,820
34,381,310
44,274,940
40,408,190
17, 442,140
23,370,880
21,266,340
20, 450,170
46,673,140
I I , 151, 000
19,307,560
25,172,200
24,156,000
22,995,000
21,020,000
16,015,270
5,100,000
7,143,310
4,100,000
14,290,000
33,930,000
17,490,000
13,891,500
19,051,000
23,110,000
14, 552,000
S h v e r certificates.
Total.
$31,373,625
25,575,154
20,530,569
30,457,373
25,958,601
19,119,380
29,488,889
23,740,277
9,121,195
16,859, 426
17,286, 415
17,055, 550
27,671,110
14,633,639
8,856,069
21,610,294
12,306,686
18,636,396
22, 425,361
15,650, 464
9,127,982
13,008,717
9,719,311
8,937, 413
21,585,492
8,349,194
5,790, 490
10,490,722
6,739,017
8,670,789
21,934,835
12.465.183
6,113,883
11,579,266
8,007,801
8,049,918
23,151,140
11,010,589
13,069,329
20,622,059
16,566,329
13,493,739
25,289,704
14,751,589
10,147,199
10,180,956
461.921
693.922
36,797,489
27,282,139
31,087,409
42,887, 429
40,379,948
41,369, 444
47,275,063
40,408,333
17, 510,243
23,771,010
21,266, 441
20,678,477
50,687,057
23.785.184
30, 473,974
31,062,614
29,628,763
26,157,910
26,996,999
24,168,755.
13,197,131
12,846,373
14,861,567
19,773,916
35,062,028
19,955,230
17,386,894
22,124, 492
25,484,960
16,897,459
218
No.
REPORT ON T H E i^INANCEg.
4 7 . — S H I P M E N T S OP SILVER COINS PROM EACH OFFICE OP THE T R E A S U R Y AND
• M I N T S FROM J U L Y 1, 1885.
During fiscal year 1910.
Offlce.
Total to June 30,
1909.
Total to June 30,
1910.
. Subsidiary
silver.
$38,090, 521.24
12,330, 185.98
75,416,575.45
241,926,212.63
111,420,016.50
141,008, 728.32
108,581,797.54
78,717 634.06
183,757,080. 48
70,651,042.25
$385,330.00
79,900.00
438,000,00
4,288,005,00
2,732,300,00
1,609,000,00
301,900,00
1,008,000,00
2,784,200,00
536,900,00
$1,487,392.90
652, 065.00
1,636,030.00
7,429,924.20
2,707,388.60
2,779,345.00
7,769,958.00
3,021,404.90
5,326,475.00
4,195,940.00
$39,963,244.14
13,062, 150.98
77,490, 605.45
253,644, 141.83
116,859, 705.10
145,397, 073.32
116,653, 655,54
82,747, 038.96
191,867, 761. 48
75,383,882,25
653,630.00
172,125.00
71,213,402.70
39,313,692.68
7,697,990.00
1,400.00
219,799.00
115,050.00
2,166,720.00
4,689,346.10
653,630.00
287,175.00
73,381,522.70
44,222,837.78
7,697,990.00
1,180,950,640.83
Washington
Baltimore
Boston
Chicago
Cincinnati
New Orleans
New York
Philadelphia
St, Louis
San Francisco
Standai'd
dollars.
14,384,734,00
43,977,039,70
1,239,312,414,53
MINTS.
Carson City
Denver
New Orleans
Philadelphia
San Francisco
Total....
N o . 4:8.—^SHIPMENTS OF SILVER COINS FROM THE T R E A S U R Y OFFICES AND MINTS
DURING EACH FiSCAL Y E A R FROM 1895, AND CHARGES THEREON FOR TRANSPORTATION.
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Standard
dollars.
Subsidiary
silver.
Total.
Charges,
$27,155,466.80
28,412,300.35
29,600,035.10
33,270,610.00
33,305,262.00
36,284,791.80
38,338,519.00
40,404,325.00
41,182,154.00
41,032,715.00
44,988,746.00
41,562,828.00
37,500,118.00
31,466,911.00
(a)
Fiscal y e a r .
$11,885,117,47
12,458,107,03
12,029,955.29
15,330,205.24
17,018,536.65
19,707,902.55
21,075,146.85
21,871,959.35
24,112,444. 65
24,382,947.90
27,606,184. SO
29,378,631.40
30,395,662.55
31,438,830.99
36,058,567.75
43,977,039.70
$39,040,584.27
40,870,407,38
41,629,990.39
48,600,815.24
50,323,798. 65
55,992,694.35
59,413,665.85
62,276,284. 35
65,294,598.65
65,415,662.90
72,594,930.80
70,941,459.40
67,895,780.55
62,905,741.99
36,058,567.75
43,977,039.70
$78,333.84
78,755.54
81,526,24
110,065.53
111,741.61
125,969.37
125,742.99
124,003.^
132,265.05
126,359.81
137,597.21
152,184.90
163,051.55
154,069.35
• 104,443.28
84,457,58
a $11,865,180 in standard silver dollars shipped at expense of consignee,
b $14,384,734 in standard silver dollars shipped at expense of consignee.
R a t e per
$1,000,
$2.01
1.93
1.96
2.26
2.22
2.25
2.12
1.99
2.03
1.93
1.90
2.15
2.40
2.45
2.90
1.92
219
TBEASUBEB.
No.
4 9 . — B A L A N C E IN THE T R E A S U R Y OF THE U N I T E D STATES; AMOUNT IN T R E A S URY OFFICES, AND AMOUNT IN DEPOSITARY B A N K S , AT THE E N D OF EACH CALENDAR
Y E A R FROM THE ADOPTION OP THE CONSTITUTION IN 1789 TO 1842, AND AT THE
E N D OP EACH FISCAL Y E A R THEREAFTER TO
1910.
Balance in t h e T r e a s u r y . a
Date.
In Treasury
oflices.
1789—December 31
1790—March 31
J u n e 30
Septeraber 30
December 31
1791—June 30
S e p t e m b e r 30 . . . "
D e c e m b e r 31
1792—March 31
J u n e ,30
S e p t e m b e r 30 . . .
Deceraber 31
1793—March 31
J u n e 30
December 3 1 . .
1794—December 31
1795—December 31
1796—December 3 1 . . .
1797—December 31
1798—December 31
1799—December 3 1 . . .
1800—December 31
1801—December 3 1 . . .
1802—December 31
1803—December 31
1804—December 31
1805—December 31
1806—December 3 1 . . .
1807—Deceraber 31'.
1808—December 31
1809—December 31
1810—Deceraber 31
1811—December 3 1 . . .
1812—Deceraber 31
1813—December 3 1 . . .
1814—December 31.
1815—Deceraber 31
1816—December 3 1 . . .
1817—Deceraber 31
1818—December 3 1 . . .
1819—December 31
Ig20—December 3 1 . . .
1821—Deceraber 31
1822—Deceraber 31 . .
1823—December 31
Ig24—December 31 .
1825—December 31
1826—December 3 1 . .
1827—December 31
1828—December 31
1829—December 31
1830—December 31
1831—Deceraber 3 1 . . .
1832—Deceraber 3 1 .
1833—December 31
1834—December 31
1835—December 31
1836—December 3 1 . .
1837—December 31
1838—December 31
1839—December 3 1 . . .
1840—December 31
1841—December 31
1842—December 3 1 . . .
1843—June 30
1844—June30
$10,490.54
232.14
i
...
=
;
700,000.00
1,025,610.63
1,268,827.62
691,097,04
1,414,029.62
205,330.74
380,199.04
669,889.11
390,199.04
I n depositary
banks.
$28,239,61
60,613,14
155,320.23
349,670. 23
570,023.80
571,699,00
079,579,99
973,905. 75
751,377.34
623,133. 61
420,914.51
783,212.37
1,035,973.09
561,435. 33
753,661. 69
1,151,924.17
516,442. 61
888,995.42
1,021,899.04
,617,451. ^3
2,161,867.77'
2,623,311.99
3,295,391.00
5,020,697.64
4,82.5,811.60
4,037,005.26
3,999,388.99
4,538,123.80
9,643,850.07
9,941,809.96
3,848,056.78
2,672,276.57
3,502,305.80
3,862,217.41
5,196,-542.00
1,727,848,63
13,106,592.88
22,033,519,19
14,989,465.48
1,478,526.74
2,079,992.38
1,198,461. 21
1,681,592.24
4,193,690.68
9,431,353.20
1,887,799.80
5,296,306.74
6,342,289.48
6,649,604.31
5,965,974.27
4,362,770.70
4,761,409.34
3,053,513.24
911,863.16
10,658,283. 61
7,861,093.60
25,729,315.72
45,056,833.54
5,779,343.01
5,364,887.61
3,992,319.44
290,532.18
170,361.73
1,699,709.09
10,525,267.10
8,222,651.19
Total,
$28,239,61
60,613,14
155,320.23
349,670. 23
570.023.80
582; 189.54
679,579.99
973,905.75
751,377.34
623.133. 61
420,914.51
783,444. 51
1,035,973.09
561,435. 33
. 753,661, 69
1,151,924,17
516,442. 61
888,995,42
1,021,899.04
617,451.43
2,161,867.77
2,623,311.99
3,295,391.00
5,020,697.64
4,825,811.60
4,037,005.26
3,999,388.99
4,538,123.80
9,643,850.07
9,941,809.96
3,848,056.78
2,672,276,57
3,502,305,80
3,862,217.41
5,196,542.00
1,727,848.63
13,106,592.88
22,033,519.19
14,989,465. 48
1,478,526.74
2,079,992. 38
1,198,461.21
1,681,592.24
4,193,690. 68
9,431,353.20
1,887,799.80
5,296,306.74
6,342,289. 48
6,649,604.31
5,965,974.27
b4,362,770.76
4,761,409.34
3,053,513.24
911,863.16
10,658,283.61
7,861,093.60
25,729,315.72
45,756,833.54
c6,804,953. 64
6,633,715.23
4,683,416.48
1,704,561.80
375,692.47
2,079,908.13
11,195,156.21
8,612,850.23
Number
of
depositary
banks.
3
3
3
3
3
3
4
6
6
9
9
8
14
16
15
94
29
58
55
58
60
59
59
56
40
40
42
41
62
50
44
91
54
43
27
11
19
26
30
34
a This statement is made from warrants paid by the Treasurer of the United States to Dec, 31, 1821,
andby warrants issued after that date,
b The unavailable funds are not included from and after this date,
c The amount deposited with the States under act of June 23,1836, having been taken out of the control
of the Treasury Department by the act of Oct. 2,1837, is not included from and after this date.
220
3BEP0RTD ON T H E FINANCES.
N o . 4:9.—BALANCE IN THE T R E A S U R Y OF THE U N I T E D STATES; AMOUNT IN T R E A S URY OFFICES, AND AMOUNT IN DEPOSITARY B A N K S , AT THE E N D OP EACH CALENDAR
Y E A R PROM T H E ADOPTION OF THE CONSTITUTION IN 1789 TO 1842, AND AT T H E
E N D OP EACH FISCAL Y E A R THEREAFTER TO 1910—Continued,
Balance in t h e T r e a s u r y .
Date;
In Treasury
offices.
1845—June 30.
1846—June 30.
1847—June 30.
1848—June 30.
1849—June 30.
1850—June 30.
1851—June 30.
1852—June 30.
1853—June 30.
1854—June 30.
1855—June 30.
1856—June 30.
1857—June 30.
1858—June 30.
1859—June 30.
1860—June 30.
1861—June 30.
1862—June 30.
1863—June 30.
1864—June 30.
1865—June 30.
1866—June 30.
1867—June 30.
1868—June 30
1869—June 30,
1870—June 30,
1871—June 30
1872-June30
1873—June 30
1874—June 30
1875—June 30
1876—June 30
1877—June 30
1878—June 30
1879—June.30
1880—June 30
1881—June 30
1882—June 30
1883—June 30
1884—June 30
1885—June 30
1 8 8 6 - J u n e 30
1887—June 30
1888—June 30
1889—June 30
1890—June 30
1891—June 30
1892—June 30
1893—June 30
1894—June 30
1895—June 30
1896—June 30
1897—June 30
1898—June 30
1899—June 30
1900—June 30
1901—June 30
. 1902—June 30
1903—June 30
1904—June 30
1905—June 30
1906—June 30
1907—June 30
1908—June 30
1909—June 30
1910—June 30
$725, 199,04
768, 000,00
5,446, 382,16
758, 332.15
3 , — 822.43
7,43i; 022. 72
12,142, 193.97
15,097, 880.36
22,286, 462.49
20,300, 636. 61
19,529, 841.06
20,304, 844.78
18,218, 770.40
6,698, 157.91
4,685, 625.04
3,931, 287.72
2,005, 285. 24
18,265, 984.84
8,395, 443. 73
72,022, 019.71
' 2,374, 744.10
78,352, 599.12
135,270, 243.53
92,353, 732.20
117,944, 915.43
105,279, 800.67
84,819, 993.41
61,935, 763.46
52,528, 793.53
64,723, 630.48
51,712, 042.19
51,427, 414.23
84,394, 007.01
130,570, 578.15
159,020,.734.90
160,528, 170.50
173,974, 146.61
152,941, 618.24
151,579, 255,91
154,557, 552.96
171,851, 780.21
218,277, 107.25
188,625, 383.03
189,395, 440.65
167,646, 333.23
164,061, 481.40
135,448, 137.33
118,728, 662.52
114,862, 278.94
108,462, 220.55
185,369, 687.37
258,221, 832. 65
232,304, 043.90
175,438, 942.32
214,193, 189. 26
214,206, 233.65
234,964, 115.04
245,045, 797.03
248,685,;097,53
217,591, 929.57
230,674, 025.59
249,958; 296.77
255,257, 493.51
247,479; 310.94
215.947, 902.41
216,263, 086.09
I n depositary
banks.
$7,385,450.82
8,915,869.83
39,980 756.39
24,066,186,19
34,124,171.54
25,904,930.78
22,779,797. 62
8,597,927.34
8,206,180.34
6,919,745.59
12,501,595.08
7,233,551.11
7,435,966. 69
11,562,679.52
7,520; 194.76
? 7,299,999.28
46,928,268.56
208,033,840.24
7,771,233.90
.8,704,830.83
9,381,712.90
9,803,381.79
10,488,827.63
10,770,579.96
13,822,070,80
18,975,315.41
54,698,728.36
43,090,750.53
26,779,703.32
21,399,689.16
10,450,130.01
9,962,526.00
10,423,767.61
10,978,505.80
11,415,474. 42
12,162,158.05
33,843,700.81
70,295,326,94
92,621,371,72
93,442,683.09
117,141,564,13
140,001,016.70
104,459,638.45
64,803,466,30
80,731,058.05
166,803,951.96
147;692,036,79
60,427,525.69
40,631,589,58
• Total,
8,110,649,86
$9,683,869,83
5,446,382.16
758,332.15
3,208,822.43
7,431,022,72
' 12,142 193,97
15,097: 880.36
22,286:462.49
20,300: 636.61
19,529;841,06
20,304,844,78
18,218,770,40
6,698,157.91
4,685,625.04
3,931,287.72
2,005,285.24
18,265,984.84
8,395,443,73
112,002,776,10
26,440,930,29
112,476,770.66
161,175, 174,31
115,133,529.82
126,542,842.77
113,485,981,01
91,739,739.00
74,437,358.54
59,762,346.64
72,159,597.17
63,274,721,71
58,947,608,99
91,694,006,29
177,498,846,71
367,054; 575.14
168,299:404.40
182,678: 977.44
162,323;331.14
161,382, 637.70
165,046: 380.59
182,622; 360.17
232,099: 178.05
207,ooo; 698.44
244,094: 169.01
210,737; 083.76
190,841, 184. 72
156,847, 826.49
129,178, 792.53
124,824: 804.94
118,885; 988.16
196,348, 193.17
269,637; 307.07
244,466: 201.95
209,282: 643.13
284,488: 516.20
306,827: 605.37
328,406: 798.13
362,187:361.16
388,686; 114.23
322,051,568.02
295,477,491.89
330,689,354.82
422,061,445.47
395,17i;347.73
276,375,428.10
256,894,675.67
Nuraber
of
depositary
banks.
221
TREASURER.
No.
5 0 . — N A T I O N A L B A N K S DESIGNATED AS DEPOSITARIES OP PUBLIC MONEYS,
WITH THE BALANCE H E L D J U N E 30, 1910.
REGULAR
Title of bank.
DEPOSITARIES
To the credit
of the Treasurer of the
United States
and
United States
disbursing
officers.
Alabama.
First National Bank, Binningliam.
Traders' National Bank, Birmingham
Bank of Mobile National Banking
Association, Mobile
First Nartional Bank, M.?.i.tgomery.
City National Bank, Tu:o:iloosa
Title of bank.
To the credit
of the Treasurer of the
United States
and
United States
disbursing
officers.
Delaware.
$100,000.00
First National Bank, Wihnington...
50,000.00
49,950.00
48,054.57
49,595.03
Coramercial National Bank, Washington
.•
N a t i o n a l Bank of Washington,
Washington
$50,000,00
District of Columbia.
384,731.40
752,244,25
Alaska.
First National Bank, Fairbanks....
First National Bank, Juneau
99,481,75
149,977,85
Arizona.
First National Bauk, Douglas
First National Bank, Nogales
Phoenix National Bank, Phoenix..
Prescott National Bank, Prescott...
Consolidated National Bank, Tucson
25,000.00
24,056,44
50,000.00
40,000. 00
50,000.00
. Florida.
First National Bank, Gainesville—
Atlautic National Bank, Jacksonville
Barnett National Bank, Jacksonville
First National Bank, Key West
First National Bank, Pensacola
American National Bank, Pensacola.
First National Bank, T a m p a . . .
Exchange National Bank, Tampa...
Arkansas.
Atlanta National Bank, Atlanta
Lowry NationalBank, Atlanta
Commercial National Bank, Macon..
Merchants' National Bank, Savannah
25,805.46
100,313. 53
47,610.64
22,847.97
50,000.00
125,047,14
39,956. 08
Georgia.
Exchange National Bank, ]:^ittle
Rock
42,763,34
100,064.01
California.
First National Bank, Eureka
First National Bank, Fresno
Farmers' National Bank, Fresno
First National Bank, Los Angeles...
First National Bank, Oakland
California National Bank, Sacramento
'
National Bank of D. 0 . Mills & Co.,
Sacramento
First National Bank, San Diego
First National Bank, San Francisco.
Araerican National Bank, San Francisco
Crocker National Bank, San l^rancisco
—
San Francisco National Bank, San
Francisco
—
Wells Fargo-Nevada N a t i o n a l
Bank, San Francisco
Colorado.
First National Bank, Denver.
Colorado National Bank, Denver
Denver National Bank, Denver
First National Bank, Durango
First National Bank, Montrose
First National Bank, Pueblo
Logan County National Bank, Sterling
Connecticut.
First Bridgeport National Bank,
Bridgeport
City National Bank, Bridgeport
Charter Oak National Bank, Hartford
Hartford National Bank, Hartford..
Second National Bank, New Haven.
National Bank of Commerce, New
London
.\...
Thames National Bank, Norwich...
33,480.68
40,000.00
25,000. 00
389,754. 27
52,399, 01
124,994. 53
335,Oil. 82
49,982.00
172,899,02
Hawaii.
First National Bank of Hawaii,
Honolulu
40,000,00
48,733.75
39,980.00
163,516.48
First National Bank, Blackfoot
Boise City National Bank, Boise
Exchange National Bank, Coeur
d' Alene
Hailey National Bank, Hailey
First National Bank, Lewiston
658,728.41
• Idaho.
239,607.46
29,989.30
100,000,00
100,000,00
400,975,40
384,688. 05
400,000.00
72,557. 52
50,000.00
76,182. 07
23,939,03
69,979,76
25,951,80
75,022.19
25,000.00
49,828.62
25,000, 00
29,958,18
53,118.88
104,503. 52
25,000.00
25,042.09
23,033,33
Illinois. •
=
First National Bank, Chicago
Commercial National Bank, Chicago.
Corn.Exchange National Bank, Chicago
National City Bank, Chicago
Danville National Bank, Danvihe...
Milikin National Bank, Decatur
Southern Illinois National Bank,
East St. Louis
Farmers' National Bank, Pekin.'
German-Araerican National Bank,
Pekin
First National Bank, Peoria
Central National Bank, Peoria
Commercial-German National Bank,
Peoria
:
Ihinois National Bank, Peoria
Merchants' National Bank, Peoria..
Quincy National Bank, Quincy......
Ricker National Bank, Quincy
Rock Island National Bank, Rock
Island
First National Bank, Springfield
niinois National Bank, Springfield..
State National Bank, Springfield...
250,000.00
250,000.00
398,710.25
150,000. 00
198,976.25
24,060.60
75,000. 00
300,000.00
300,000,00
350,000.00
412,000.00
424,435.79
350,000.00
349,640.15
25,000.00
25,000.00
50,000.00
40,036.55
40,000.00
39,847.44
222
No.
REPORT ON T H E EINANCES.
5 0 . — N A T I O N A L B A N K S DESIGNATED AS DEPOSITARIES OF PUBLIC MONEYS,
WITH THE BALANCE H E L D J U N E 30, 1910—Continued,
REGULAR
Title of bank.
DEPOSITARIES—Contmued.
To the credit
of the Treasurer of the
United States
and
United States
disbursing
officers.
To the credit
of the Treasurer of the
United States
and
United States
disbursing
officers.
Title of bank.
Indiana.
Kentucky—Continued..
Old State National Bank, Evansville
First National Bank, Fort Wayne..
Hamilton National Bank, Fort
AVayne
First "National Bank, Hammond
Citizens' German National Bank,
Hammond
American National Bank, Indianapolis
:
Capital National Bank, Indianapolis.
Indiana National Bank, Indianapolis
Merchants' National Bank, Indianapolis
Dearborn National Bank, Lawrenceburg
—
People's National Bank, Lawrenceburg
Marion National :Bank, Marion
Citizens' National Bank, South Bend.
South Bend National Bank, South
Bend
,
First National Bank, Terre H a u t e . .
First National Bank, Vincennes
German National Bank, Vincennes..
First National Bank, Louisvhle
Third National Bank, Louisville...
Anierican National Bank, Louisville
Citizens' National Bank, Louisville.
National Bank of Kentucky, Louisvhle
Southern National Bank, Louisville
Union National Bank, Louisville..
State National Bank, Maysvihe
First National Bank, Owensboro..
National Deposit Bank, Owensboro
City National Bank, Paducah
$49,098.35
25,000.00
25,000,00
125,000.00
125,000,00
39,187. 58
50,000.00
249,639.46
50,000.00
100,000.00
.100,000.00
229,930. 65
25,000.00
25,000.00
199,882.19
50,000.00
50,000.00
. 30,000.00
21,791.65
25,000.00
30,000.00
60,000.00
58,983.06
58,118, 60
62,452.72
24,984.82
50,000.00
50,168. 60
125,000,00
Kansas..
National Bank of Commerce, Dodge
City
First National Bank, Junction City.
Lawrence National Bahk, Lawrence.
First National Bank, Leavenworth.
Leavenworth
National
Bank
Leavenworth.. ;
First National Bank, Pittsburg
Merchants' NationalBank, Topeka.
49,452,72
24,500.05
24,907.30
200,864,18
153,983,10
25,000.00
148,516.17
Kentucky.
Citizens' National Bank, Bowling
Green
-.
Carrollton National Bank, Carrollton
First National Bank, Covington
Citizens' National Bank, Covington.
German National Bank, Covington.
Farmers' National Bank, Danville..
State National Bank, Frankfort
Lawrenceburg National Bank, Lawrenceburg
'...
Lexington City National Bank,
Lexington
.
"
Louisiana.
Whitney-Central
New Orleans
National
Bank,
Maine.
Granite National Bank, Augusta...
First National Bank, Bangor
First National Bank, Houlton
Portland National Bank, Portland..
Maryland.
Iowa.
First National Bank, Burlington...
Cedar Ilapids National Bank, Gedar
Rapids
City National Bank, Clinton
First National Bank, Counch Bluffs.
First National Bank, Davenport
Citizens' National Bank, Des Moines.
Des Moines National Bank, Des
Moines
Iowa National Bank, Des Moines...
Valley National Bank, Des Moines..
Second National Bank, Dubuque...
First National Bank, Ottuhiwa
Security National Bank, Sioux City.
$149,479.89
50,522.84
150,998.80
150,000.00
25,000,00
40,000.00
74,890.00
74,863.65
75,000.00
50,051.59
75,000.00
50,000.00
75,000.00
Third National Bank, Baltimore....
Citizens' National Bank, Baltimore.
Merchants' National Bank, Baltimore
,
National Exchange Bank, Baltimore.
National Mechanics' Bank, Baltimore
First National Bank, Cumberland,
Second National Bank, Cumberland,
Second National Bank, Hagerstown.
Massachusetts.
First National Bank, Boston
Merchants' National Bank, Boston.,
National Shawmut Bank, Boston
Mechanics' National Bank, New
Bedford
First National Bank of West Newton, Newton
Third National Bank, Springfield..
Mechanics' National Bank, Worcester
Michigan.
First National Bank, Bay City
First National Bank, Detroit
Old Detroit National Bank, Detroit
Fourth National Bank, Grand
Rapids
HoughtonNational Bank, Houghton,
Miners' National Bank, Ishpeming.
MichiganNational Bank,Kalamazoo,
First National Bank, Marquette
First National Bank, Menominee
First National Exchange Bank,
Port Huron
Second National Bank, Saginaw...
First National i^ank, Sault Ste.
Marie
,
700,000.00
100,000.10
1,507,453.65
223
TBEASUBEB.
No.
5 0 . — N A T I O N A L B A N K S DESIGNATED AS DEPOSITARIES OP PUBLIC MONEYS,
WITH THE BALANCE H E L D J U N E 30, 1910—Continued.
REGULAR
Title of bank.
DEPOSITARIES-Continued,
To the credit
of the Treasurer of the
United States
ahd
United States
disbursing
officers.
Title of bank.
Minnesota.
New Jersey.
Merchants' National Bank, Crookston
:
First National Bank, Duluth
First National Bank, Minneapolis...
Northwestern National Bank, Minneapolis
First National Bank, St. Paul
Second National Bank, St. Paul
National German-American Bank,
St.Paul
Bridgeton National Bank, Bridgeton.
Camden National Bank, Camden
National State Bank, Elizabeth
First National Bank, Jersey City
Essex County National Bank, New• ark
Union N.ational Bank, Newark
Passaic National Bank, Passaic
First National Bank, Paterson......
Paterson National Bank, Paterson..
First National Bank, Perth Araboy.
First National Bank, Trenton
To the credit
of the Treasurer of the
United States
and
United States
disbursing
officers.
$24,685.70
150,000.00
144,521.03
25,000.00
1,245,292.71
400,462.12
25,000.00
Mississippi.
First National Bank, Vicksburg
Missouri.
First National Bank, Kansas City...
National Bank of Comraerce, Kansas
City
National Bank of the Republic,
Kansas City
:
First National Bank of Buchanan
County, St, Joseph
German-American National Bank,
St. Joseph
,—
Mercantile National Bank, St, Louis.
Merchants'-Laclede National Bank,
St. Louis '.
National Bank of Commerce, St.
Louis
State National Bank, St. Louis
Montana.
Yellowstone National Bank,Bihings.
Comraercial National Bank, Bozeraan
First National Bank, Butte
First National Bank, Glasgow
First National Bank, Great Fahs
Araerican National Bank, Helena...,
National Bank of Montana, Helena..
Conrad National Bank, KalispeU
First National Bank, Lewistown..'.
State National Bank, Miles Cit3'Western Montana National Bank,
Missoula
Nebraska.
Alliance National Bank, Ahiance
First National Bank, Lincoln.
First National Bank, Oraaha
Merchants' National Bank, Oraaha.
Nebraska National Bank, Oraatia..
Oraaha National Bank, Omaha
United States National Bank,
Omaha
Nevada.
Farmers and Merchants' National
Bank, Reno
New Hampshire.
First National Bank, Concord
Manchester National Bank, Man. Chester
First National Bank, Portsmouth..
New Harapshire National Bank,
Portsmouth...'
49,483.82
$24,309.28
111,142.13
46,000. 00
125,000. 00
25,000.00.
125,326,30
25,000.00
40,056.10
40,000. 00
40,000.00
99,285,12
New Mexico.
First National Bank, Albuquerque..
State National Bank, Albuquerque..
200, OCO. 00 First National Bank, Clayton
First Natiohal Bank, Roswell
250,010,00 First National Bank, Santa Fe
First National Bank, Tucumcari...:
124,489,46
50,000, 00
24,291.40
25,000, 00
49,876. 25
24,370. 69
148,593,84
New York.
79,500. 65
First National Bank, Albany
30,000.00 National Commercial Bank, Albany.
50,000.00 First National Bank, Binghamton...
Nassau National Bank, Brooklyn
150,750.00 National City Bank, Brooklyn
Third National Bank, Buffalo
417,376.30 Marine National Bank, Bufialo
150,000.00 Second-National Bank, Elraira
Araerican Exchange National Bank,
New York
'
Chemical National Bank, New York.
30,000.00 Citizens' Central National Bank,
New York
24,420.71 Hanover National Bank, New York.
75,000.00 National .Bank of Commerce, New
25,000. 00
York
49,936.41 National City Bank, New York
99,016,50 New York County National Bank,
New York
195,443.38
25,000, 00 Phenix National Bank, New York...
25, poo, 00 State National Bank, North Tona100,000.00
• wanda
National Bank of Ogdensburg, Og69,782.20
densburg
First National Bank, Oswego
Westchester County National Bank,
25,000.00
Peekskill
•.
49,929,14 Plattsburg National Bank, Platts149,847,98
burg
150>000.00 Lincoln National Bank, Rochester...
144,628. 37 Traders' National Bank, Rochester..
391,719,27 Third National Bank, Syracuse
Manufacturers'National Bank, Troy
142,534,24 National State Bank,Troj
First National Bank, Utica
Second National Bank, Utica
Watertown National Bank, Water50,000,00
town
154,907.04
90.000.00
29,913.75
199,376.85
150,000. 00
100,000,00
100,000.00
40,000.00
150,000.00
150,000.00
141,005. 63
1,546,014.29
319,010.76
250,000.00
150,000.00
150,000.00
25,000.00
40,000.00
50,270,88
125,000,00
40,000,00
74,671,17
25,071.46
80,033.66
60,000.00
25,000. 00
25,000.00
50,024.31
50,000.00
North 'Carolina.
41,686,27
25,000, 00
200,897.87
25,000.00
American National Bank, Asheville.
Commercial National Bank, Charlotte
First National Bank, Durham
Citizens' National Bank, Durham....
60,000.00
75,000.00
50,000.00
50,000.00
224
No.
REPORT ON T H E FINANCES.
50.—NATIONAL
B A N K S DESIGNATED AS DEPOSITARIES OP PUBLIC
MONEYS,
WITH THE BALANCE H E L D J U N E 30, 1910—Continued.
REGULAR
T i t l e of b a n k .
DEPOSITARIES—Conthiued.
T o t h e credit
of t h e Treasu r e r of t h e
United States
and
U n i t e d States
disbm'sing
. officers.
Title of b a n k .
N o r t h Carolina—Continued,
Pennsylvania.
Greensboro N a t i o n a l B a n k , Greensboro
Citizens' N a t i o n a l B a n k , Raleigh
F i r s t N a t i o n a l B a n k , StatesviUe
People's N a t i o n a l B a n k , W i n s t o n . . .
M e r c h a n t s ' N a t i o n a l B a n k , Allentown
F i r s t N a t i o n a l B a n k , Altoona
First National Bank, Easton
First National Bank, Erie
F i r s t N a t i o n a l B a n k , .Harrisburg
Conestoga N a t i o n a l B a n k , L a n c a s t e r .
N e w F i r s t N a t i o n a l B a n k , Meadville.
Second N a t i o n a l B a n k , P h i l a d e l p h i a .
Corn E x c h a n g e N a t i o n a l B a n k ,
Philadelphia
Merchants' National Bank, Philadelphia
'.'.
,
Q u a k e r City N a t i o n a l B a n k , P h i l a delphia
Second N a t i o n a l B a n k , P i t t s b u r g . . .
Columbia N a t i o n a l B a h k , P i t t s b u r g .
Mellon N a t i o n a l B a n k , P i t t s b u r g . . .
Miners' N a t i o n a l B a n k , P o t t s v i l l e . . .
First National Bank, Reading
Third National Bank, Scranton
First National Bank, Wilkes-Barre..
First National Bank, York
T o t h e credit
of t h e Treasurer o f t h e
U n i t e d States
and
U n i t e d States
disbm'sing
officers.
$50,000.00
100,885.68
40,000.00
80, OCO. 00
North Dakota.
First National Bank, Bismarck
Dakota.National Bank, Dickinson...
F i r s t N a t i o n a l B a n k , Fargo
Second N a t i o n a l B a n k , Minot
Citizens' N a t i o n a l B a n k , W i l l i s t o n . . .
40,000,00
25,000.00
100,000.00
50,000,00
50,000.00
Ohio.
First National Bank, Athens
F i r s t N a t i o n a l B a n k , Chillicothe
F i r s t N a t i o n a l B a n k , Cincinnati
Second N a t i o n a l B a n k , C i n c i n n a t i . . .
Fourth National Bank, Cincinnati..
F i f t h - T h i r d N a t i o n a l B a n k , Cincinnati.'
Citizens' N a t i o n a l B a n k , Cincinnati.
Market National Bank, Cincinnati...
F i r s t N a t i o n a l B a n k , Cleveland
B a n k of Comraerce, N a t i o n a l Association, Cleveland
Hayden-Clinton National
Bank,
Columbus
T h i r d N a t i o n a l .Bank, D a y t o n
First National Bank, Hamilton
Second N a t i o n a l B a h k , H a m i l t o n . . .
M e r c h a n t s ' N a t i o n a l B a n k , Middletown
First National Bank, Portsmouth...
Comraercial N a t i o n a l B a n k , Sandusky
F i r s t N a t i o n a l B a n k , Toledo
Second N a t i o n a l B a n k Toledo
Troy National Bank, Troy
25,000,00
25,000,00
201,000,00
200,000,00
200,000,00
200,000.00
200,000.00
200,000.00
100,000.00
125,000.00
100,000.00
200,000.00
25,144. 48
25,000.00
75,000.00
30,000.00
150,000.00
150,000,00
150,000,00
150,000.00
400,000.00
25,000.00
50,000.00
74,996.55
40,000. 00
40,000,00
100,000.00
124,992.00
South Carolina.
F i r s t N a t i o n a l B a n k , Charleston
P a l m e t t o N a t i o n a l B a n k , Colurabia.
N a t i o n a l U n i o n B a n k , R o c k Hill
97,600,40
80,065.83
25,000.00
South Dakota.
40,000.00
75,100. 00
75,000.00
75,000,00
Tennessee.
249,735,02
25,395.63
F i r s t N a t i o n a l B a n k , Bristol
:...
First National Bank, Chattanooga..
A m e r i c a n N a t i o n a l B a n k , Chattanooga
F i r s t N a t i o n a l B a n k , Clarksville
Manufacturers' N a t i o n a l B a n k , H a r r i m a n . ..-.
U n a k a National B a n k , Johnson
City
:
E a s t Tennessee N a t i o n a l B a n k ,
Knoxville
First National Bank, Memphis
F i r s t N a t i o n a l B a n k , Nashville
A m e r i c a n N a t i o n a l B a n k , Nashville
First National Bank, Tullahcma
25,000.00
25,000,00
24,796.00
50,000,00
Oregon.
First National Bank, Burns
,
La Grande National Bank, L a
Grande
First National B a n k , Lakeview
First National Bank, Portland
M e r c h a n t s ' N a t i o n a l B a n k , Portland
U n i t e d States N a t i o n a l B a n k , Portland
780,392.89 .
Rhode M a n d .
A q u i d n e c k N a t i o n a l Bank,Ne'\^Tport.
M e r c h a n t s ' N a t i o n a l B a n k , Providence
.'
Aberdeen National Bank, Aberdeen.
W h i t b e c k N a t i o n a l B a n k , Chamberlain
First National Bank, Deadwood
Gregory N a t i o n a l Bank^ Gregory
First National Bank, Huron
First National Bank, Lemmon
F i r s t N a t i o n a l B a n k , Mitchell
Mitchell N a t i o n a l B a n k , M i t c h e l l . . .
F i r s t N a t i o n a l B a h k , Pierre
Pierre National B a n k , Pierre
First National Bank, Rapid C i t y —
M i n n e h a h a N a t i o n a l .Bank, Sioux
Falls
.--.
Sioux Falls N a t i o n a l B a n k , Sioux
Falls
:
25,000. 00
49,647.45
50,000, 00
50,000, 00
Oklahoma.
First National Bank, Alva
Ardmore National Bank, Ardmore..
Citizens' N a t i o n a l B a n k , E l R e n o . . .
Guthrie National Bank, Guthrie
N a t i o n a l B a n k of Commerce, G u t h rie
First National Bank, Lawton
F i r s t N a t i o n a l B a n k , Muskogee
Commercial N a t i o n a l B a n k , Muskogee
Western National Bank, Oklahoma
City
F i r s t N a t i o n a l B a n k , AVoodward
$25,000.00
50,000,00
25,000,00
49,968,75
50. 000,00
60,045.53
50,000,00
25,000.00
24,80L44
39,281,16
22,832.68
898,934.31
149,816.69
178,481.23
49,734.27
49,830,06
99,800,00
50,000.00
50,000,00
25,336,26
30,000,00
30,000,00
25,000,00
25,000.00
50,000.00
52,443. 95
25,000.00
25,000:00
131,46L66 .
30,000,00
25,000,00
25,000,00
100,000.00
70,965.89
142,296.87
124,425,86
50,000.00
24,998.18
225
TREASURER.
No.
5 0 . — N A T I O N A L B A N K S D E S I G N A T E D AS D E P O S I T A R I E S OF P U B L I C M O N E Y S ,
WITH THE BALANCE H E L D J U N E 30, 1910—Continued.
REGULAR DEPOSITARIES-Continued.
To t h e credit
of t h e T r e a s u r e r of t h e
U n i t e d States
and
U i u t e d States
disbursing
.officers.
Title of b a n k .
Texas,
. .
T i t l e of b a n k .
To the credit
of t h e T r e a s u r e r of t h e
Uiuted States
and
United States
disbursing
officers.
Washington—Continued,
American N a t i o n a l B a n k , A u s t i n . . .
Austin National Bank, Austin
American E x c h a n g e N a t i o n a l B a n k ,
Dallas
City N a t i o n a l B a n k , Dallas
F h s t N a t i o n a l B a n k , Eagle P a s s
F h s t N a t i o n a l B a n k , E l Paso
City N a t i o n a l B a n k , E l Paso
Galveston N a t i o n a l B a h k , Galveston
:
S o u t h T e x a s N a t i o n a l B a n k , Houston
:
Laredo N a t i o n a l B a n k , Laredo
F h s t National Bank, Port Arthur...
San A n t o n i o N a t i o n a l B a n k , S a n
Antonio
Merchants a n d P l a n t e r s ' N a t i o n a l
Bank, Sherman
Citizens' N a t i o n a l B a n k , W a c o .
$25,000,00
198,455.09
88,710.02
89,056.81
22,569.34
97,766.66
30,000.00
59,979,97
50,000.00
25,000.00
20,344,23
295,768,75
49,150,53
40, ooo; 00
TJtah.
F h s t N a t i o n a l B a n k , Ogden
U t a h N a t i o n a l B a n k , Ogden
Deseret N a t i o n a l B a n k , Salt L a k e
City
N a t i o n a l B a n k of t h e R e p u b l i c ,
Salt L a k e City
98,026,55
200,086,18
74,982.23
40,000,00
$98,85L62
899,803.95
900,000.00
72,323.03
72,902.65
175,000.00
50,000.00
25,571.37
40,000.00
West Virginia.
Citizens' N a t i o n a l B a n k , Charleston
F h s t N a t i o n a l B a n k , Grafton
F h s t National Bank, H u n t i n g t o n . .
Old N a t i o n a l B a n k , M a r t i n s b u r g . .
F h s t National Bank. Parkersburg.
N a t i o n a l E x c h a n g e B a n k , Wheeling
151,812.83
25,000.00
25,000.00
25,071.45
50,000.00
125,000,00
Wisconsin.
99,578,44
49,987.09
Vermont.
Merchants' N a t i o n a l B a n k , Burlington
N a t i o n a l B a n k of N e w p o r t , N e w p o r t
F h s t N a t i o n a l B a n k , P o r t Townsend
National B a n k of Commerce, Seattle.
Seattle N a t i o n a l B a n k , Seattle
Exchange National Bank, Spokane .
Old N a t i o n a l B a n k , S p o k a n e
N a t i o n a l B a n k of Comraerce, Tacoma.
Pacific Nationa;l B a n k , T a c o m a
V a n c o u v e r N a t i o n a l B a n k , Vancouver.
F h s t N a t i o n a l B a n k , Walla W a l l a . .
Ashland National Bank, Ashland...
Kellogg N a t i o n a l B a n k , Green B a y .
National B a n k of L a Crosse, L a
Crosse
F h s t N a t i o n a l B a n k , Madison
First National Bank, Mhwaukee
National Exchange Bank, Mhwaukee
Wisconsin N a t i o n a l B a n k , M h w a u kee
Old N a t i o n a l B a n k , Oshkosh
60,435.78 .
30,000.00
30,000.00
46,784.09
244,700. 38
249,855.97
130,788.87
30,065,55
Virginia.
Wyoming.
F h s t National Bank, Abingdon
F h s t National Bank, Alexandria
F i r s t N a t i o n a l B a n k , Danville
Lynchburg National Bank, Lynchburg
-.
F h s t National Bank, Newport News.
N a t i o n a l B a n k of Commerce, Norfolk
'Norfolk N a t i o n a l B a n k , Norfolk
Vhginia National Bank, Petersburg.
American N a t i o n a l B a n k , Richmond
M e r c h a n t s ' N a t i o n a l B a n k , Richmond
N a t i o n a l B a n k of Virginia, Richmond
40,000,00
24,563.90
24, .950.10
74,950.00
54,233. 99
359,128.04
537,020.89
49,932.16
F h s t N a t i o n a l B a n k , Bufialo
First National Bank, C h e y e n n e . . . .
Stock Growers' N a t i o n a l B a n k ,
Cheyenne
F h s t National Bank, Evanston
F h s t National Bank, Lander
24,994,10
90,065,14
99,121.53
24,771,46
25,000,00
ADDITIONAL DEPOSITAEIES.
Philippine Islands.
100,000.00
100,233; 53
T r e a s u r y of t h e P h i l i p p i n e Islands,
Manila
3,470,650,57
99,851,75
Washington.
American Colonial B a n k of P o r t o
Rico, S a n J u a n
. •.
F h s t National Bank, B e l l i n g h a m . . .
F h s t National B a n k , N o r t h Y a k i m a .
40,000,00
96,438.05
198,995,96
Total.
51,536,236.30
I
65872°—FI 1910-
-15
226
No.
REPORT ON TI-IE FINANCES.
5 0 . — N A T I O N A L B A N K S DESIGNATED AS DEPOSITARIES OF PUBLIC M O N E Y S ,
WITH THE BALANCE H E L D J U N E 30, 1910—Continued.
SPECIAL DEPOSITARIES.
In State or Territory,
Nuraber,
To the credit
of the Treasurer of the
United States.
In state or Territory.
$12, 000. 00 Nebraska
I,000. 00 Nevada
5,000.00 New Harapshire.,
19,000.00 New Jersey
12,000. 00 New Mexico
10,000. 00 New York
1,000.00 North Carolina..
3,190,000. 00 North D a k o t a . . .
7,000. 00 Ohio
23,000. 00 Oklahoraa
6,000. 00 Oregon
40,000. 00 Pennsylvania
49,000.00 Rhode Island
50,000. 00 South Carolina..
37,000. 00 S o u t h D a k o t a . . .
25,000. 00 Tennessee
11,000. 00 Texas
7,000. 00 Verraont
30,000. 00 Virginia
44 000. 00 Washington
21,000.00
West Virginia...
2o: 000. 00 Wisconsin
Wyoming
lo: 000.00
23 000. 00
2, 000. 00
Total.
Alabama
Arizona
Arkansas
,
California
Colorado
Connecticut
Delaware
District of Colurabia.,
Florida
Georgia
Idaho
Illinois
Indiana
.•
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
,.
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Number.
To the credit
of the Treasurer of the
United States.
26
2
15
10
2
07
13
2
65
12
10
123
3
7
2
6
35
9
31
5
13
24
7
$26,000.00
2,000.00
15,000. 00
10,000.00
2,000. 00
67,000. 00
13,000.00
2,000.00
,65,000.00
12,000.00
10,000.00
123,000.00
3,000.00
7,000.00
. 2,000.00
6,000.00
35,000.00
9,000.00
31,000.00
5,000.00
13,000,00
24,000.00
7,000.00
964
4,144,000.00
RECAPITULATION.
Regular depositaries
Special depositaries
$51,536,236.30
4,144,000.00
,
Total
55,680,236.30
N o . 5 1 . — N U M B E R OF NATIONAL B A N K S WITH SEMIANNUAL D U T Y P A I D , BY FISCAL
Y E A R S , AND N U M B E R OF DEPOSITARIES WITH B O N D S AS SECURITY AT CLOSE OF
EACH F I S C A L Y E A R P R O M 1 8 9 5 .
Number
B
N u m b e r to o n d s held
Semiannual
secure cirof deposd u t y collected. itaries.
of b a n k s .
culation.
Fiscal year.
1895
1896
1897
1898
1899
1900
1901
1902..
1903.
1904
1905
1906.
1907..
1908
1909
1910
:
• .
.
..
:.
3,767
3,737
3,615
3,634
3,599
3,822
4,187
4,553
5,014
5,409
5,782
6,138
. 6,538
6,827
7,020
7,207
$207,080,800
228,915,950
230,471,550
220,201,400
229,688,110
284,378,040
326,119,230317,038,530
375,068,770
416,016,690
468,066,940
520,605,210
558,364,660
628,172,130
660,689,070
686,974,880
$1,704,007.69
1,851,676.03
2,020,703.65
1,901,817.71
1,991,743.31
1,881,922.73
1,599,221.08
1,633,309.15
1,708,819.92
1,928,827.49
2,163,882.05
2,509,997.80
2,806,070.54
.3,090,811.72
3,190,543.04
3,559,502.30
160
160
168
172
357
442
448
577
713
842
837
927
1,255
1,436
1,414
1,380
B o n d s held
to secure
deposits.
$15,278,000
16,928,000
16,930,500
30,851,500
78,564,540
107,253,580
105,765,450
124,718,650
152,852,020
112,902,550
80,404,950
95,575,725
193,244,052
180,459,419
81,244,071
51,774,700
Total bonds
held.
$222,958,800
245,843,950
247,402,050
251,052,900
308,252,650
391,631,620
431,884,680
441,757,180
527,920,790
528,919,240
548,471,890
616,180,935
751,608,712
808,631,549
741,933,071
738,749,580
227
TREASURER.
No.
5 2 . — R E C E I P T S AND DISBURSEMENTS OF PUBLIC M O N E Y S THROUGH NATIONAL
B A N K DEPOSITARIES, BY FISCAL Y E A R S FROM 1895.
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904........
1905
1906
1907
1908
1909
1910
No,
F u n d s transF u n d s transferred t o b a n k s . ferred t o T r e a s u r y
by banks.
Receipts.
Fiscal year.
$169,440,435,46
181,705,917:74
149,306,649,29
207,178,119,61
283,276,222:20
303,903,655.56
313,373,160,38
281,234,091,57
244,947,528,71
251,970,862.51
251,255,327.39
267,418,788.43
313,824,771.09
293,869,490,31
300,924,352.92
342,600,932,99
$41,892,885,26
46,867,861,23
50,059,755.00
"82,971,223.08
226,173,117.13
166,289,607,85
125,443,007,56
157,041,571.84,
201,897,430,60
176,189,611,66
134,884,137,86
233,200,148,62
349,196,379.80
297,371,652.96
192,639,939.96
226,151,893.16
Warrants paid
by banks.
$23,186,07LI5
22,671,550,77
19,350,217,54
22,830,954.62
24,560,430,04
22,606,835,39
24,141,398.97
26,347,319.10
35,445,560.08
49,400,676.71
56,905,851,58.
57,548,415.23
60,142,265,16
65,763,897,28
79,016,707.39
78,346,522.81
$187,592,51L38
205,465,259.58
179,269,503,12
245,636,845,31
448,437,283,16
425,260,383,24
413,853,457.60
388,229,463.27
388,539,946.66
414,301,175,71
368,889,785.82
427,142,930.07
516,805,991.82
544,589,160.96
502,286,495.'43
510,782,592.86
Balance,
$11,193,267,18
11,630,235.80
12,376,919.43
34,058,462.19
70,510,088.32
92,836,133.10
93,657', 444.47
117,356,325.51
140,215,778.08
104,674,399.83
65,018,227.68
80,945,819,43
167,018,713.34
147,906,798.17
60,167,888,23
39,791,598,71
5 3 . — S E V E N - T H I R T Y N O T E S I S S U E D , R E D E E M E D , AND OUTSTANDING J U N E 30,
1910.
Redeemed to Redeemed
during
Total issued. June 30,1909,
year.
Issue,
July 17,1861...
August 15,1864
June 15, 1865...
July 15, 1865...
$140,094,750
299,992,500
331,000,000
199,000,000
970,087,250
Total. ...
No
$140,085,350
299,947,100
330,970,200
198,954,800
969,957,450
$50
'166'
Total
redeeraed.
Outstanding.
$140,085,400
299,947,100
330,970,200
198,954,900
$9,350
45,400
29,800
45,100
969,957,600
129,650
54c.—COUPONS FROM U N I T E D STATES B O N D S AND I N T E R E S T N O T E S P A I D DURING
THE FISCAL Y E A R 1910, CLASSIFIED BY L O A N S .
Title of loan.
Five-twenties of 1862
Five-twenties of 1865
Consols of 1865
Consols of 1867
F u n d e d loan of 1891 . .
L o a n of 1904
F u n d e d loan of 1907
L o a n of 1925
Loan of 1908-1918
Number
of
coupons.
10
2
5
1
•
1
47
5,952
98,107
309,514
Amount.
$37.50
60.00
96.00
30.00
L13
463.75
33,146.00
832,807.00
681,722.55
Title of loan.
Consols of 1930
P a n a m a Canal loan of
1916-1936
P a n a m a Canal loan of
1918-1938
7.30 notes of 1864-65
Total
Number
of
coupons.
27,055
Amount,
$99,301,25
655
660 40
2,511
7.
10,702.80
29.20
443,867
1,659,057.58
228
REPORT ON T H E EINANCES.
N o . 5 5 . ^ C H E C K S I S S U E D FOR INTEREST ON R E G I S T E R E D B O N D S DURING THE FISCAL
Y E A R 1910.
Nuinber.
Title of loan.
Loanof 1925
:
Loan of 1908-1918
Consols of 1930
Panama Canal loan of 1916-1936
Panama Canal loan of 1918-19.38
Philippine loan of 1914-1934
Philippine loan of 1915-1935, public hnprovement bonds
Philippine loan of 1915-1935, Manila sewer and water bonds
Philippine loan of 1916-1930, public iraproveraent bonds
Philippine loan of 1917-1937, Manila sewer and water bonds
Philippine loan of 1918-19.38, Manila sewer and water bonds
Philippine loan of 1919-1939, public iraproveraent bonds
District of Colurabia 3.65 per cent bonds
Amount.
16,603
58,333
40,650
3,978
1,771
1,749
530
194
123
109
128
190
483
124,841
Total
$3,902,595.00
1,245,073.05
12,824,367.25
1,092,009.80
589,083.40
280,000.00
100,000.00
40,000.00
40,000.00
80,000.00
40.000.00
45,000.00
339,212.75
20,617,341.25
N o . 5 6 . - - I N T E R E S T ON 3.65 PER CENT BONDS OF THE DISTRICT OF COLUMBIA P A I D
DURING THE FiSCAL Y E A R 1910,
Where paid.
Coupons,
$2,635.29
27,721,75
Total
No.
57.—REFUNDING
1
Issued,
341,986.75
372,343,79
26, . 1879,
Total.
ISSUED,
Redeemed
Total
Outstandduring
. retired to
ing.
year.
J u n e 30,1910.
$58,500
39,954,250
To order
To bearer
$19,735.54.
352,608.25
CERTIFICATES, ACT OP F E B R U A R Y
R E D E E M E D , AND OUTSTANDING,
H o w payable.
Total
$17,100.25
324,886,50
30,357.04
Treasury United States, Washington..
Subtreasury United States, New York.
Checks,
:
$560
$58,480
39,937,110
$20
17,140
40,012,750
560
39,995,590
17,160
229
TBEASUBEB.
No.
5 8 . — P U B L I C D E B T J U N E 30,
1909, AND J U N E 30,
THE Y E A R .
1910,
AND CHANGES DURING
Rate
of interest.
Outstanding
J u n e 30, 1909.
Perct.
4
3
2
2
2
$118,489,900.00
63,945,460.00
646,250,150.00
54,631,980.00
30,000,000.00
$118,489,900.00
63,945,460.00
646,250,150.00
54,631,980,00
30,000,000,00
913,317,490.00
Title of loan.
913,317,490.00
Issued d u r i n g
year.
Retired during
year.
Outstanding
J u n e 30, 1910.
INTEREST-BEAEING DEBT.
L o a n of 1925
L o a n of 1908-1918
Consols of 1930
P a n a m a Canal loan of 1916-1936.
P a n a r a a Canal loan of 1918-1938.
Total.
D E B T ON WHICH I N T E R E S T
HAS CEASED.
.
T^toO
Olddebt
6
L o a n of 1847
T e x a n i n d e m n i t y stock.
5
5
Loan-of 1858
6
5-20S of 1862
5-20S of J u n e , 1864.
6
6
5-20S of 1865 .
10-40S of 1864
5
6
Consols of 1865
6
Consols of 1867...'
6
Consols of 1868
:.
6
L o a n of F e b r u a r y , 1861*. . .
5
F u n d e d loan of 1881
F u n d e d loan of 1881, continued
:
Oregon war d e b t
L o a n of J u l y a n d August, 1861..
6
L o a n of J u l y a n d August, 1861,
continued
Loan of 1863 ( 1 8 8 r s ) . :
L o a n of 1863, continued
L o a n of J u l y 12, 1882
F u n d e d loan of 1891
F u n d e d loanof 1891, c o n t i n u e d .
L o a n of 1904.
5
F u n d e d loan of 1907
. 4
T r e a s u r y notes of 1861
6
7.30s of 1861
5
One-year notes of 1863
5
Two-year notes of 1863
'.
Compound-interest notes
6
7.30s of 1864-65
'
Certificates of indebtedness
T e m p o r a r y loan
4 to 6
3 per cent certificates
3
Refunding certificates
4
151,635.26
950.00
20,000.00
2,000.00
108,250.00
14,000.00
19,850.00
18,650.00
59,550.00
94,700.00
10,100.00
5,000.00
22,600.00
^*
200,00
50.00
2,250.00
15,050,00
50,00
2,250,00
15,050.00
1,600,00
3,100.00
100,00
200.00
23,750.00
32,000.00
43,750.00
1,857,350.00
2,300. 00
9,400.00
30,370.00
26,850.00
159,480,00
120,400,00
3,000.00
2,850.00
5,000.00
17,720.00
f
f
f
$400,00
200,00
.
560,00
1,600,00
3,100,00
100,00
200.00
23,750.00
32,000.00
14,450.00
1,129,250.00
2,300.00
•
9,350.00
30,370.00
26,850,00
' 159,430,00
120,300,00
3,-000,00
2,850.00
5,000,00
17,160,00
758,960,00
2,124,895,26
129,940,000,00
53,282.50
346,681,016.00
29,366,66
728,100.00
50.00
50,00
100.00
2,883,855.26
Total
151,635,26
950,00
20,000,00
2,000.00
108,250.00
14,000.00
19,850.00
18,650.00
59,550.00
94,300.00
9,900.00
5,000.00
22,400,00
D E B T B E A R I N G NO I N T E R E S T .
Old d e m a n d n o t e s .
U n i t e d States notes
N a t i o n a l - b a n k notes, r e d e m p tion account
Fractional currency
53,282.50
346,681,016.00 $129,940,000.00
31,674,292.50
32,288,770,50
1,965,00
27,904,463.00
6,858,822.28
382,114,026.78
Total
28,518,941.00
6,860,787.28
161,614,292.50
162,230,735,50
381,497,583.78
852,601,869.00
484,414,000.00
4,215,000.00
283,178,000.00
353,997,600,00
272,843,000,00
349,294,600,00
543,000,00
862,936,869.00
489,117,000.00
3,672,000.00
CERTIFICATES AND TREASURY
NOTES.
Gold certificates
Silver certificates .
T r e a s u r y notes of 1890..
...
Total
1,341,230,869.00
637,175,600,00' 622,680,600.00 1,355,725,869.00
Aggregate
2,639,546,241.04
798,789,892,50
785,670,295.50 2,652,665,838.04
230
REPORT ON T H E FINANCES.
No.
5 9 . — U N I T E D STATES B O N D S R E T I R E D , PROM MAY, 1869,
Title of loan.
L o a n of 1847
B o u n t y - l a n d scrip
L o a n of F e b r u a r y , 1861
Oregon w a r d e b t
L o a n of J u l y a n d A u g u s t , 1861
5-20S of 1862
L o a n of 1863
5-20sof March, 1864. .
5-20S of J u n e , 1864
5-20sofl865.
. . .
Consols of 1865
Consols of 1867
Consols of 1868
i.
Texan indemnity stock.
L o a n of 1860
L o a n of 1858..
10-40S of 1864
F u n d e d loan of 1881
F u n d e d loan of 1891
F u n d e d loan of 1907
L o a n of J u l y a n d A u g u s t , 1861, continued
.^
L o a n of 1863, c o n t i n u e d
F u n d e d loan of 1881, c o n t i n u e d
L o a n of J u l y 12,1882
L o a n of 1908-1918...
F u n d e d loan of 1891, c o n t i n u e d
B o n d s issued to Pacific railroads:
Central Pacific
U n i o n Pacific . .
K a n s a s Pacific
Central B r a n c h , U n i o n Pacific
W e s t e r n Pacific
Sioux City a n d Pacific..
L o a n of 1904
L o a n of 1925..
.
Total
Rate
of interest.
P e r ct.
6
6
6
6
6
6
6
6
6
6
6
6
6
5
• 5
5
5
5
41
4
3^
3^
f
3
2
6
6
6
6
6
6
5
4
Redeemed.
$47,900
1,175
7,798,000
685,950
12,932,400
430,417,000
4,684,700
2,382,200
69,868,900
157,697,450
205,285,250
310,108.150
37,478 750
232 000
7,022 000
6,041 000
192,459 150
72,867 850
81,045 850
61,504 500
Purchased,
$10,612,000
. 256,800
48,776,700
57,155,850
19,854,250
1,119,800
43,459,750
.36,023,350
118,950,550
. 62,846,950
4,794,050
TO J U N E 30,1910.
Converted
and
exchanged.
$27,091,000
380,500
12,218,650
9.586,600
8;703,600
6,568,600
256,650
13,957,000
2,089,500
43,599,000
143,518,200
236,575,400
127,595,600
37,226,200
109,155,250
305,581,050
441,728,950
13,231,650
292,349,600
2,913,540
132,449,900
25,380,200
25,885,120
27,236 512
6,303,000
1,600,000
1,970,560
1,628,320
19,370,600
2,349,492,587
8,543,650
43,825,500
72,071,300
882,825,340 1,032,683,500
Total,
$47,900
1,175
18,410,000
942,750
61,709,100
514,663,850
24', 538,950
3,882,500
125,547,300
203,307,400
332,939,400
379,523,700
42,529,450
232,000
7,022,000
19,998,000
194,548,650
116,466,850
224,564,050
739,808,850
127,595,-600
50,457,850
401,504,850
305,581,050
135,363,440
25,380,200
25,885,120
27,236)512
6,303,000
1,600,000
1,970,560
1,628,320
99,985,550
43,825,500
4,265,001.427
231
TRB.A.STJE.EE.
No.
6 0 . — B O N D S AND OTHER SECURITIES R E T I R E D FOR T H E S I N K I N G F U N D DURING
THE FISCAL Y E A R 1910, AND TOTAL FROM MAY,
1869,
Title of loan.
W a r - b o u n t y scrip
L o a n of 1860.
'
liOan of F e b r u a r y , 1801
Oregon w a r d e b t
L o a n of J u l y a n d A u g u s t , 1861
5-20s of 1862
L o a n of 1863
10-40S of 1864
•
5-20S of March, 1864
.5-20S of J u n e , 1864
5-20S of 1865
Consols of 1865
Consols of 1867
Consols of 1868
F u n d e d loan of 1881
F u n d e d loan of 1891
F u n d e d loan of 1907
L o a n of 1904
L o a n of J u l y a n d A u g u s t , 1861, c o n t i n u e d .
L o a n of 1863, c o n t i n u e d
F u n d e d l o a n of 1881, c o n t i n u e d
L o a n of J u l y 12,1882
L o a n of 1908-1918.
'.....
F u n d e d loan of 1891, c o n t i n u e d
L o a n of 1925
T r e a s u r y notes issued prior t o 1846
'...
T r e a s u r y notes of 1861
T e m p o r a r y loan "certificates, act 1862
Certificates of i n d e b t e d n e s s , act 1862
Certificates of i n d e b t e d n e s s of 1870
One-year notes of 1863
Two-year n o t e s of 1863
Compound-interest notes
7.30s of 1861
7. 30s of 1864-65.
F r a c t i o n a l currency
U n i t e d States notes
Old d e m a n d notes
,
R e f u n d i n g certificates
Certificates of indebtedness
Total.
Retired
d u r i n g fiscal
year.
F r o m May, 1869,
Redeemed.
$175. 00
10,000. 00
3,000.00
1,550.00
78,450. 00
30,047,400.00
23,100. 00
691,600. 00
$200. 00
728,100. 00
29,300. 00
11,072, 100. 00
1,982, 450. 00
65, 450. 00
76, 700. 00
21, 350. 00
25,091, 550. 00
50,764, 800. 00
60,085, 650. 00
19,370, 600. 00
56,633, 000. 00
. 37,220, 300. 00
43,710, 300.00
168,692, 750. 00
25,380,200.00
50.00
50.00
100. 00
1,965.00
760,325. 00
110. 00
200. 00
110. 00
1,000.00
678,000.00
5,335. 00
1,650. 00
30,110. 00
1,500. 00
13,200. 00
26,257,060. 65
29,090,564.00
3,185.00
5,830.00
13,936,500.00
601,046,829.65
Purchased,
$10,612,000. 00
256,800. 00
48,776,700. 00
24,029,150.00
19,854,250. 00
361, 600. 00
18,356, 100. 00
16,866, 150,00
48,166, 150, 00
32,115, 600. 00
2,213, 800. 00
43,599, 000. 00
46,274, 850. 00
134,291, 400. 00
8,543, 650.00
2,396,800. 00'
"43,'825,'566.'66'
1,350. 00
1,500,000.00
Total.
$175. 00
10,000.00
10,615,000.00
258,350. 00
48,855,150.00
54,076,550.00
19,877,350.00
691,600. 00
361,600. 00
29,428,200.00
18,848,600.00
48,231,600.00
32,192,300. 00
2,235,150. 00
' 68,690,550.00
97,039,650. 00
194,377,050.00
27,914,250.00
56,633,000.00
37,220,300.00
43,710, 300. 00
168,692, 750. 00
2,396,800.00
25,380,200.00
43,825,500.00
110. 00
200.00
110. 00
1,000.00
678,000.00
5,335. 00
1,650.00
30,110. 00
1,500. 00
13,200.00
26,257,060. 65
29,090,564.00
3,185.00
7,180. 00
15,436,500.00
502,040,850. 00 1,103,087,679. 65
232
No.
REPORT ON T H E FINANCES.
6 1 . — P U B L I C D E B T , EXCLUSIVE OF CERTIFICATES AND T R E A S U R Y N O T E S , AT
THE E N D OF EACH MONTH, FROM J A N U A R Y , 1904.
Month.
1904—January...
February..
March
Ajpril
May
June
July
August
September.
October...
November.
Deceraber.
1905^Januaiy...
February..
Mai'ch
April
May
June
July
August
Septeraber.
October...
Noveraber.
Deceraber.
1906—January...
February..
Mai'ch
April
May
June
July
August
Septeraber.
October...
NovemberDecember.
1907^ January...
February..
March
April
May
June
July
August
Septeinber.
October...
November.
December.
1908—January...
February..
March
Aprh
:
May
June
July
August
Septeraber.
October...
Noveraber.
Deceraber.
1909—January...
February..
March
" April
May
. June
July
August
Septeraber.
October...
Noveraber.
December.
1910—January...
February..
March
April
May
June
Interest
bearing.
$900 470 950
895 156 700
895 156 740
895 157 440
895 157 430
895 157 440
895 157 540
895 157 630
895 157 630
895 157 770
•895 157 470
895 157 470
895 157 510
895 157 530
895 157 530
895 158 070
895 158 240
895 158 340
895 158 720
895 158 700
895 158 680
895 158 940
895 159 120
895 159 140
895 159 180
895 159 170
895 159 170
895 159 160
895 159 150
895 159 140
895 159 090
922 133 380
925 159 200
925 159 250
925 159 190
922 717 880
922 020 560
920 099 510
908 233 660
901 568 630
899 972 780
894 834 280
858 685 510
858 685 510
858 685 510
858 685 510
869 603 010
898 210 050
898 753 990
898 753 990
897 503 990
897 503 990
897 503 990
897 503 990
897 503 990
897 503 990
897 253 990
897 253 990
883 317 490
912 900 850
913 307 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
913 317 490
Matured.
United States
notes and
fractional currency.
National-bank
notes, redemption account.
$1,196,
16,530.26 $353 605,
,451,13
$38.
3,161,
1,680.26 353 605,
,450.13
39^
2,670,
0,510.26 353 605,450.13
38;
2,347,
:7,480.26 353 604,715.13
38.
19,950,26 353 604,
,713.38
• 2,109,
37'
0,920,26 353 604,113.38
1,970,
35:
;i,130.26 353 604
,113.38
1,881,
34:
1,841,
1,270.26 353 604,113.38
34;
1,662,
i2,220.26 353 604,113.38
33,
1,627,
;7,700.26 353 604
,113.38
32:
1,495,
'5,400,26 353 603,
,328.38
32:
1,447,
7,260.26 353 603
1,328.38
3l'
1,431,
1,470,26 353 603,
,328.38
30
1,417,
7,320,26 353 603,
,328.38
3o:
1,406,
16,450,26 353 602
,765.58
30,
1,401,
1,045,26 353 602
,765.58
31
1,377,
7,165,26 353 602
,247.58
31
0,245,26 353 601,
,407.58
1,370,
32:
1,264,
.4,735,26 353 601,
,407.58
31
6,535,26 353 601,407.58
1,256,
33:
6,405,26 353 601,
,407.58
1,256,
33,
1,075,26 353 601,007.58
1,231,
34
18,095,26 353 601,007.58
1,208,
35:
'9,635.26 353 601,007.58
1,199,
34:
0,825.26- 353 601,007.58
1,170,
35'
6,705.26 353 601,007.58
1,156,
40,
i9,425,26 353 600
,257.58
1,139,
41'
;9,145.26 353 600, 257.58
1,139,
41
5,045.26 353 600
,257.58
1,135,
42,
:8,135.26. 353 600,055.78
1,128,
42;
:6,585.26 353 600
,055.78
1,126,
43:
6,375.26 353 599,535.78
1,126,
44,
6,375.26 353 599,535.78
1,126,
45
13,205.26 353 599,
,535.78
1,123,
45:
8,975.26 353 599,535,78
1,118,
45'
8,765.26 353 599,535.78
1,118,
46:
15,745.26 353 599,535,78
1,095,
45:
'5,695.26 353 598,775.78
1,095,
46:
15,365.26 353 598,775.78
1,095,
49:
5,135.26 353 598
,775.78
1,095,
48:
6,925.26 353 598
,775.78
1,086,
47:
;6,815.26 353 598, 292.78
1,086,
47:
3,135.26 353 598
,292. 78
13,563,
47:
3,105.26 353 598,292.78
9,623,
46:
2,545.26 353 598,292.78
8,272,
46:
10,955.26 353 597, 847.78
'
47:
6,930,
i8,015.26 353 597,847.78
45:
6,228,
46:
0,385.26 353 597,732.78
5,580,
7,205.26 353 597, 732.78
.5,107,
51'
.7,095,26 353 597
,732.78
4,887,
62:
5,215,26 353 597, 132.78
4,675,
66:
.0,695.26 353 597,112.78
4, .500,
71:
1,305,26 , 353597,112.78
4,291,
71
0,015,26 353 597,112.78
• 4,130,
72:
3,745,26 353 596 672.78
',
3,943,
57:
7,625.26 353 596 672.78
',
3,867,
48:
3,195.26 353 596, 672.78
i
3,823,
42:
8,235.26 353 596
1,222.78
3,738,
39:
7,265.26 353 596,222.78
3,647,
5o:
8,935.26 353 596
1,222.78
3,448,
46:
3,705.26 353 595,655.78
3,373,
43:
8,485.26 353 595,655.78
3,338,
4o:
2,355.26 353 595,655.78
3,292,
36:
1,115.26 353 595,655.78
3,131,
33:
7,115.26 353 595,085.78
2,987,
3o:
3"
,
2,883," 855.26 353 595,085.78
28:
4,475.26 353 595,085.78
2,814,
26:
3,625.26 353 594
,607.78
2,793,
25:
1,285.26 353 594, 192.78
:
2,761,
25:
6,895,26 353 594,010.78
2,686,
25:
8,325,26 353 594; 010.78
2,378,
26;
5,725.26 353 594;010.78
2,365,
26
2,295.26 353 594
,010.78
2,322,
28:
2,865.26 353 593,520.78
2,262,
30:
6,445.26 353 593,520.78
2,246,
31
7,275.26 353 593,520.78
2,237,
3o:
'9,815.26 353 593, 120.78
2,209,
29:
4,895.26 353 593, 120.78
,
2,124,
27'
Total.
696.50 $1 293,
.,807,627.89
309.00
291,
,103,139.39
396.00
290,
,122,096.39
611.50
289,
,773,246.89
056.00
288,
,589,149.64
542.50
286,
,259,016.14
208.50
284,
,862,992.14
732.50
285,
,368,746.14
135.50
283,
1,797,099.14
866.00
283,
,140,449.64
377.00
282,
,585,575.64
951.50
282,
,142,010.14
106.50
280,
,555,415.14
818.50
280,
',255,997.14
435.00
280,
,446,180.84
742.00
,536,622.84
281,
852.50
,487,505.34
281,
102.00
282,
,357,094.84
869.00
,914,731.84
281,
296.50
283,
,121,939.34
209.00
,401,701.84
283,
390.50
284,, 461,413.34
:
449.00
,063,671.84
285,
309.00
284,, 650,091.84
:
666.00
,409,678.84
285,
758.50
',239,641.34
290,
908,00
,482,760,84
291,
909,00
,539,471.84
291,
616,00
,340,068,84
292,
039.00
,522,970,04
292,
Oil, 50
,820,742.54
293,
967.20
,055,258.24
321,
178.00
,459,289.04.
325,
183.50
,472,174.54
325,
015,00
,799,716.04
325,
672.50
,068,853.54
324,
571.00
;150,412.04
322,
527.00
',799,508.04
320,
767.00
,974,568,04
311,
418.00
,725,959,04
304,
708.00
302,, 412,189.04
;
804.50
,178,192.54
297,
404.00
,275,342.04
273,
882.00
i
,
268, 352,790.04
774.00
,550,122.04
267,
336.50
1,453,649.54
266,
979.70
,030,852.74
275,
653. 60
,550,821.64
303,
010.20
,055,938.24
309,
7.32,40
,267,550.44
319,
189.10
322,
,329,527.14
425.00
1,764,223.04
326,
462.50
,271,870.54
327,
284.50
,690,402.54
327,
588.00
,437,996,04
312,
438.00
,776,726,04
303,
365.00
,316,223,04
297,
430.00
,657,878,04
293,
945.00
,820,923.04'
290,
160,00
.,851,168.-04
316,
967.50
,827,818.54
313,
127.50.
',951,758.54
310,
089.50
1,710,590.54
306,
397,00
,417,658.04
303,
227,00
,030,918.04
300,
941.00
1,315,372.04
298,
058.50
,549,109.54
296,
358.50
,478,081.54
295,
008.50
,542,976.54
295,
036.00
,147,432.04
295,
931,00
,•718,757.04
295,473.00
1,220,699.04
296,
722.00
,681,518.04
297,
090.50
,299,966.54
299,
253.00
,095,709,04
301,
470.50
,345,756.54
299,
880,50
1,588,306.54
298,
463.00
1,939,969,04
296,
233
TREAStTRER.
No.
6 2 . — L A W F U L M O N E Y D E P O S I T E D IN THE T R E A S U R Y EACH MONTH O P . T H E
FISCAL Y E A R 1910 FOR T H E R E D E M P T I O N OF NATIONAL-BANK N O T E S .
Retirement account.
Five per cent
. account.
Month.
Total.
Insolvent and
liquidating.
1909—July
August
September
October...
: November
December.
I9I0—January...
February.
March
April
May
June
$40,593, 470, 51
37,754, 820.21
31,537, 900.17
37,767, 712. 62
30,272, 318.96
34,604, 036,49
39,840 627,03
45,407: 030,54
45,745, 723, 53
39,806, 279,71
40,499, 625.06
41,521, 667.18
Total...
465,351,212.01
No.
$832,220.00
777,850.00
1,330,945.00
1,018,175,00
1,023,510,00
634,767, 50
1,308,711, 50
1,237,808, 50
3,648,455, 00
764,790,00
1,275,542.50
489,205.00
14,341,1
1.00
Reducing.
$83, 000,00
339, 250,00
665, 005.00
471, 097. 50
1,345,000.00
2,224 500.00
3,753 890.00
4,008;550.00
2,181 000.00
908 300.00
932, 700. 00
520, 020,00
$41,508, 690, 51
38,871, 920,21
33,433, 850.17
39,256, 985.12
32,640, 828.96
37,463, 303. 99
44,903, 228. 53
50,653,389.04
51,575 178. 53
41,479; 369.71
42,707, 867. 56
42,530, 892.18
17,332,312.50
497,025,504.51
6 3 . — D I S B U R S E M E N T S PROM R E D E M P T I O N ACCOUNTS OF NATIONAL
EACH MONTH OP THE FISCAL Y E A R 1910.
For notes redeemed.
Month.
1909—July
August
Septeraber.
October
November.
Deceraber..
1910—January
February..
March
April
May
June
Transfers and Total disburserepayments.
ments.
$41,519, 012. 50
36,075, 430. 00
35,738, 682. 50
36,575, 310.00
32,426, 390.00
36,346, 293.00
48,168, 080. 00
47,618, 622. 50
49,469, 462. 50
41,497, 875.00
43,195, 587. 50
44,890, 157. 50
$73,460. 70
73,943. 96
73,397:37
107,332.46
131,369. 50
338,328. 96
431,796. 92
306,991.34
247,973. 77
96,182. 67
102,153. 95
91,406. 79
493,520,903. 00 2,074,338.39
Total,..
$41,592, 473, 20
36,149,373.96
35,812, 079,87
36,682, 642. 46
32,557, 759, 50
36,684, 621.96
48,599,876, 92
47,925, 613.84
49,717, 436. 27
41; 594.057, 67
43,297, 741, 45
44,981, 564,29
BANKS
Balance,
$48,811, 268.86
51,533,815.11
49,155, 585. 41
51,729, 928.07
51,812, 997. 53
52,591, 679. 56
48,895, 031.17
51,622, 806.37
53,480, 548. 63
53,365,860, 67
52,775, 986.78
50,325,314. 67
495,595,241.39
N o . 6 4 . — N A T I O N A L - B A N K N O T E S R E C E I V E D FOR REDEMPTION FROM THE P R I N CIPAL CITIES AND O T H E R PLACES EACH MONTH OF THE FISCAL Y E A R 1910, IN T H O U SANDS OF DOLLARS,
Month,
New
York.
1909—July
$23,366
August
16,710
' S e p t e m b e r . 12,841
October
14,004
November.
15,029
Deceraber.. 21,469
1910—January.... 32,086
F e b r u a r y . . 18,628
March
18,758
April
20,737
M:ay
20,727
19,755
June
Total
234,110
Boston.
Phila- Baltidelphia. raore,
St,
Chicago. Cincinnati.
Louis.
New
Orleans,
Other
places.
Total.
$2,988 $4,029
2,760
2,852
2,481
3,041
3,136
2,833
3,100
2,283
3,598. 3,158
4,248
3,619
2,528
2,569
2,349
2,425
2,383
3,182
2,937 . 3,244
2,984
3,405
$1,093
783
843
732
713
835
1,365
1,009
947
1,148
1,123
970
$4,902
4,126
4,190
3,145
4,611
4,813
6,214
6,343
5,245
6,247
7,124
6; 437
$914
635
733
880
859
893
1,311
992
983
1,023
1,208
1,281
$2,799
1,343
1,211
1,328
1,233
2,181
4,285
3,982
2,476
3,296
2,696
3,456
$645
448
439
377
.398
327
859
476
672
657
685
603
$5,668
7,283
6,111
5,324
5,027
6,210
6,878
5,043
6,062
6,549
6,556
6,004
$46,404
36,940
31,890
31,759
33,253
43,484
60,865
41,570
39,917
45,222
46,300
44,895
35,492
11,561
63,397
11,712
30,286
6,586
72,715
502,499
36,640
234
REPORT ON T H E FINANCES.
N o . 6 5 . — N A T I O N A L - B A N K N O T E S OUTSTANDING AT THE E N D OF EACH MONTH, AND
THE AMOUNT AND P E R C E N T OF MONTHLY R E D E M P T I O N S , FROM JANUARY, 1901.
Redemptions,
Month.
Outstanding.
Amount,
1901—January
February
March
April
May
June
July
August
September...
October
Noveraber
Deceraber
1902—January
February
March
April
May..,
June.^...
July..-.
. August
Septeraber...
October
Noveraber
Deceraber
1903—January
February
March
April
May...
June
July
August
Septeraber...
October
November
December
1904—January
February
March
• April
May
June
July
August
September...
October
November
Deceraber
1905—January
February
March
April
May
June
July.:
August
Septeraber...
$346, 821,871
34'8, 655,255
350, 101,405
350, 764,257
351, 582,590
353, 742,187
356, 152,903'
357, 419.155
358, 830,548
359, 911,683
359, 720,711
360, 289,726
359, 444,615
358, 434,867
357, 476,407
356, 987,399
356, 747,184
356, 672,091.
358, 984,184
361, 282,691
366, 993,598
380, 476,334
384, 854,514
384, 929,784
383, 973,546
'382, 798,845
382, 519,258
391, 151,728
406, 443,205
413, 670,650
417; 346,487
418, 587,975
420, 426,535
419, 610,683
421, 106,979
425, 163,018
426, 857,627
430, 324,310
434, 909,942
437, 080,573
445, 988,565
449, 235,095
450, 206,888
452, 516,773
456, 079,408
457, 281,500
460, 679,075
464, 794.156
467, 422,853
469, 203,840
475, 948,945
481, 244,945
488, 327,516
495, 719,806
503, 971,395
512, 220,367
516, 352,240
Redemptions.
Month.
Per
cent.
$19,482,754
12,799,120
12,358,659
11,305,800
14,188,094
13,415,238
13,378,875
14,336,572
8,792,245
11,384,984
11,087,009
13,351,267
20,863,764
14,999,349
14,610,899
15,450,660
17,243,753
16,369,881
15,334,968
13,213,682
11,242,551
12,483,910
13,600,790
18,557,201
24,364,960
13,916,434
14,446,393
17,012,685
20,576,357
21,679,690
22,953,412
18,856,085
16,830,510
17,488,970
13,654,484
22,080,483
29,541,701
21,006,260
21,567,430
23,783,646
25,702,886
28,676,063
27,138,361
24,922,175
18,187,050
20,200,160
22,291,957
27,355,322
35,687,232
24,706,431
26,964,598
24,505,427
27,265,778
29,074,269
25,624,807
22,912,285
19,073,610
5.62
3.67
3.53
3.22
4.04
3.79
3.76
4.01
2.45
3.16
3.08
3.71
5.80
4.18
4.09
4.33
4.83
4. .59
4.27
3.66
3.06
3.28
3.53
4.82
6.35
3.64
3.78
4.35
5.06
5,24
5:50
4.50
4.00
4.17
3.24
5.19
6.92
4.88
4.96
5,44
5,76
6.38
6.03
5.51
3.99
4.42
4.84
5.89
7.63
5.27
5.67
5.09
5.58
5.87
5.08
4.47
3.69
Outstanding.
Amount.
1905—October
|$524,,408,249 |$20,612,165
• November
533',329,258 21,561,971
December
540;,914,347 24,832,551
•543,230,080 36,710,959
1906—January
February
,
550;' 803,896 23,716,730
March
:
554,, 666,967 27,021,045
April
556.,646,282 22,758,848
May
,129,660 27,590,918
559'
June
561 ,112,360 23,876,995
July
561 ,481,045 21,766,334
August...'
569 ,852,303 18,804,632
'
S e p t e m b e r . . . 573,
,903,108 14,538,106
October
,171,985 15,370,970
583'
November
593 ,380,549 15,483,851
: D e c e m b e r . . . . 596;
,162,469 16,903,960
1907—January
,197,569 31,730,178
596,
F e b r u a r y . ; . . 596:
,343,022 20,296,954
March
597,212,063 18,187,816
Aprh
599,913,840 21,522,289
May...;
601 ,940,550 22,278,235
June
603 ,788,690 23,431,356
July
603,395,886 25,748,794
August
604,056,321 22,285,888
,987,114 19,329,739
• S e p t e m b e r . . . 603:
',980,467 19,955,863
October
609:
7,749,861
.,218,196
November
656:
1,130,895 11,736,020
Deceraber
69o:
.
1908—January
695:, 402,762 43,425,863
:
February
695:, 674,519 29,627,608
,407,355 38,949,474
. March
696:
,645,698 42,491,474
Aprh
697'
,
May
698. 449,517 43,212,118
,333,917 45,121,039
June
698:
1,088,991 38,319,375
July
692:
1,326,108 29,442,768
August
685:
.,612,327 24,776,186
S e p t e m b e r . . . 675:
.
October
665:, 844,192 27,507,778
,178,177 27,801,459
November
667:
,068,165 34,874,210
December
677:
.,673,092 56,627,458
1909—January
676:
1,285,600 37,227,225
F e b r u a r y . . . - . 678:
,407,615 42,637,791
March
684:
,408,227 46,125,141
Aprh
687:
1,183,115 48,247,752
May
688:
,920,074 47,935,059
June
689:
,354,164 46,403,870
July
695;
August
6981,845,474 36,939,830
!
S e p t e m b e r . . . 702:, 807,459 31,890,067
,940,756 31,759,154
October.
703:
,433,456 33,253,015
November
707:
1,354,253 43,484,347
December
7io:
',879,333 60,864,575
1910—January
709:
1,022,868 41,570,159
February
7io:
,258,996 39,917,273
March
717'
,461,586 45,222,008
Aprh
713:
1,242,841 46,299,971
May
712:
,430,733 44,894,723
June
713:
Per
cent.
3.93
4.04
4.59
0.76
4.31
4.87
4.09
4.93
4.26
3.88
3.30
2.53
2.64
2.61
2.84
5.32
3.40
3.05
3.59
3.70
3.88
4.27
3.69
3.20
3.27
1.18
1.70
6.24
4.26
5.59
6.09
6.19
6.46
5.54
4.30
3.67
4.13
4.17
5.15
8.37
5.49
6.23
6.71
7.01
0.95
6.67
5.29
4.54
4.51
4.70
0.12
8.57
5.85
5.56
6.34
6.50
6.29
235
TREASURER.
No. 66.
- R E D E M P T I O N S AND D E L I V E R I E S OF NATIONAL-BANK N O T E S EACH MONTH
OF THE FISCAL Y E A R 1910.
On hand
charged to
5 per cent
account.
Redemptions.
Deliveries on
redemption
accounts.
Deposited
in
Treasury,
1909—July
•August —
Septeraber
October...
November.
December.
1910—January...
February..
March
April
May
June
$44,870, 972.96
36,819; 021,53
32,753, 634, 70
31,684, 476, 67
33,088, 562,60
41,523, 744.97
61,711, 447,95
40,962, 657,15
40,141, 597.55
44,671, 154.05
46,673, 321.15
44,699, 292,29
$41,744, 422.50
36,554,350.00
35,501,972.50
37,033,370.00
32,478,867,50
36,353, 335,50
47,427 562,50
47,546; 095,00
48,984, 550.00
42,178, 580.00
43,078, 992.50
44,967,055.00
$55,660.00 $1,051,930.00
48,975.00
573,010.00
63,755.00
809,720,00
47,027.00
351,660,00
59,461.00
299,182.50
61,616.00
292,140,00
56,309.00 1,032,657,50
43,937,00 1,105,185,00
48,921,00 1,590,097.50
49,182,00
909,392.50
54,407.00 1,025,987,50
51,078,00
949,090,00
Total..-.
499,599,883,57
493,849,153,00
640,328.00
Month.
No,
On hand
unassorted.
$22,664, 164.34
23,358,780.87
20,309, 978.07
15,372, 117.74
15,974,829.34
21,090, 665.31
34,577, 724.26
21,Sit 821,91
18,501: 035.96
21,625: 133.01
25,048: 459. 66
24,806: 516, 45
6 7 . — R E D E E M E D NATIONAL-BANK N O T E S D E L I V E R E D FROM THE T R E A S U R Y
EACH M O N T H OF T H E FISCAL Y E A R 1910,
Month.
For return to
b a n k s of issue.
F o r destruction a n d
reissue.
1909—July'
August..
September
October.
November
December
1910—January
February
March
April
May
June
$12,151,600.00
10,449,400.00
9,666,850.00
9,012,200.00
8,240,600.00
8,740,650.00
11,715,850.00
11,233,550.00
10,352,700.00
8,517,400.00
8,689,850.00
9,244,450.00
$26,980,720.00
23,938,150.00
24,036,822.50
26,210,925.00
22,749,652.50
25,267,960.00
32,153,360.00
32,744,555.00
34,614,557.50
30,247,307.50
31,451,310,00
33,149,962,50
$2,612,102,50
2,166,800,00
1,798,300.00
1,810,245,00
1,488,615,00
2,344,725.50
3,558, .352. 50
3,567,990.00
4,017,292.50
3,413,872.50
2,937,832.50
2,-572,642,50
$41,744,422.50
36,554,350.00
35,501,972.50
37,033,370.00
32,478,867.50
36,353,335.50
47,427,562.50
47,546,095,00
48,984,550.00
42,178,580.00
43,078,992.50
44,967,055,00
118,015,100.00
343,545,282,50
32,288,770,50
493,849,153,00
Total
No.
Fordestruc- •
tion a n d
rethement.
Total.
Balance,
$23,716,094.34
23,931,790.87
21,119,698,07
15,723,777,74
16,274,011,84
21,382,805,31
35,610,381,76
28,983,006,91
20,091,133,46
22,534,525,51
26,074,447.16
25,755,606,45
6 8 . — A S S E T S AND LIABILITIES OF THE F I V E P E R C E N T R E D E M P T I O N F U N D OF
NATIONAL B A N K S AT THE E N D OF EACH MONTH OP THE FISCAL Y E A R 1910,
Liabilities.
Month.
1909—July
August
September..
October....
November..
December..
1910—January
February...
March..'....
Aprh
May
....
June
On deposit National
in Treas- bank notes Expenses
paid.
ury.
on hand.
$23,716,094
23,931,791
21,119,698
15,723,778
16,274,012
21,382,805
35,610,382
28,983,007
3,076,579 20,091,134
1,579,214 22,534,526
26,074,447
25,755,606
$2,439,485
3,013,677
10,450,711
9,052,090
4,399,448
$23,716,094
26,371,276
24,133,375
$396,743 . 26,571,232
396,743
25,722,845
198,731
25,980,984
35,610,382
28,983,007
23,167,713
24,113,740
26,074,447
25,755,606
To national To Treasury.
banks.
$21,989,210
25,761,456
23,285,577
26,180,892
25,384,067
25,648,206
20,447,309
21,496,716
21,542,296
23,168,390
23,308,106
22,420,851
On other
accounts.
$638,353 $1,088,531
609,820
847,798
390,340
338,778
332,778
14,098,961 .1,064,112
6,349,084 1,137,207
1,625,417
945,350
1,704,024 1,062,317
2,348,731
986,024
236
REPORT ON T H E FINANCES.
No.
6 9 . — N A T I O N A L - B A N K N O T E S R E C E I V E D FOR REDEMPTION FROM THE P R I N C I PAL CITIES AND O T H E R PLACES, BY FISCAL Y E A R S , FROM 1895, IN THOUSANDS OF
DOLLARS,
Fiscal
year.
New
York.
No.
$10,266
14,613
16,382
16,606
13,342
12,427
• 19,467
18,672
19,543
22,834
24,416
22,656
18,087
20,075
29,435
35,492
$6,099
7,601
8,348
0,570
7,'332
8,390
9,097
10,788
14,306
18,688
21,483
20,422
17,778
20,437,.
28,887
36,640
$952
2,068
1,610
2,113
2,385
2,633
4,747
5,635
7,009
9,338
11,768
10,789
9,222
7,941
10,301
11,561
St.
Chicago. Cincin- Louis.
nati.
$4,028 $1,705
5,778
3,112
5,431
1,584
5,153
1,465
5,050
1,718
4,804 •1,218
8,562
1,644
14,192 3,198
18,739
4,449
21,910
6,417
26,798
7,724
28,160
8,321
27,677
7,285
30,512
8,026
47,504 12,342
63,397 11,712
$1,731
3,836
2,172
1,895
2,283
2,320
6,008
12,847
9,311
12,301
18,572
13,764
13,044
16,147
28,268
30,286
7 0 . — R E S U L T , OP THE COUNT OF NATIONAL-BANK
R E D E M P T I O N , BY FISCAL Y E A R S , FROM
Fiscal year.
1895
1896
1897
1898 . -.
1899:
1900
1901
1902
1903 . .
1904
1905 .
1906
1907
1908
1909
1910
No.
Baltimore.
$51,936
58,051
65,312
51,804
40,610
52,707
81,263
86,749
98,550
141,660
159,432
150,087
102,279
193,292
236,101
234,110
1895
1896
1897
1898
1899
1900
1901
1902
1903'
1904
1905
1906
1907
1908
1909
1910
Boston. P h h a d e l phia.,
•
New
Other
Orleans. places.
$389
1,062
575
564
630
710
1,528
2,271
3,176
4,034
5,372
5,346
6,418
5,896
7,838
6,586
NOTES
1895.
Claimed b y
owners.
"Overs."
Counter" S h o r t s , " Referred a n d
rejected.
feit.
$86,940,748,54
108,260,978,05
113,226,181,47
97,459,282.47
90,838,30L01
96,982,607.88
147,486, 577.93
171,512,752.90
196,786,126, 51
262,141,930. 23
308,298, 760.03
296,292,884.95
240,314,680.86
349,634,341. 42
•461,522,201.92
502,498,993.,94
$7,553.54
7,654,71
5,423.79
10,383.40
16,615, 50
8,092.25
19,903.52
7,269.23
29,339.97
18,489. 36
61,102. 05
41,359.06
28,54.9.10
41,978. 85
83,100.36
74,856,24
$2,062.90
7,582.70
3,84L50
11,957.50
15,91L20
11,685.80
20,620.30
6,999. 40
12,998.30
30,839. 28
19,032.80
35,882.00
31,794. 80
39,976,70
99,060.05
87,264.80
.$9; 603
12,140
12,160
10,942
11,48811,773
15,171
17,517
21,347
24,960
32,734
36,748
38,525
47,308
60,846
72,715
Total.
$86,709
108,261
113,574
97,112
90,838
96,982
147,487
171,869
196,430
262,142
308,299
296,293
240,315
349,634
461,522
502,499
RECEIVED
Express
charges.
$575,708,51 $1,580.50 $13,226,95
352,355,27 2,069.50 15,598,95
626,33L70 1,508,75
43.80
76,20
352,846.95 1,424. 50
12L80
681,108.05 1,227,00
124.70
750,902.15 1,706,00
143.95
340,635. 30 1,432.00
174,62
462,958.75 1,754.00
200,40
439,173. 50 1, OOL 00
250.81
385,635. 85 1,307.00
261.75
1,521,902.10 1,308.00
268.95
1,121,987, 50 1.685.75
i; 567.00
316.85
1,474,686, 55
403.15
1,085,529.22 1,1.30. 50
487.53
1,967,445.65 1,300. 75
910. 05 . 596,45
2,885,195,31
FOR
N e t proceeds.
$86,355,723,22
107,891,026.34
112,599,879.51
97,103, 360.72.
90,156,548.46
96,226,281.48
147,143, 649.90
171,048,135.36
196,361,193.28
261,742,386.65
300,817,357.43
295,174,419.81
238,834,864.76
348,549,280.70
459,537,008.-30
499,599,883. 57
7 1 . — D I S P O S I T I O N M A D E OF THE N O T E S R E D E E M E D AT THE NATIONAL-BANK
REDEMPTION AGENCY, BY FISCAL Y E A R S , FROM 1895.
Delivered to t h e Comptroller of
t h e Currency.
R e t u r n e d to
b a n k s of issue.
Deposited in
Treasury.
F o r destruction F o r destruction
a n d reissue.
and retirement.
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
]909
1910
.
•.
...
$35,055,620
46,946,190
37,659,960
27,124,260'
23,472,650
25,620,660
57,668,715
. 57,303,520
62,563,430
92,025,555
106,286,870
88,930,700
43,140,205
62,194,650
89,629,100
118,015,100
$40,094,540.00
43,866,375.00
69,014,687.50
54,858,155.50
50,530,827. 50
49,006,445.00.
71,432,232.50
89,646,745,00
104,604,265. 50
136,444,405.00
174,417,382.50
184,561,827.50
168,940,465.00
196,449,107.50
321,445,552.50
343,545,282. 50
$13,068,369.00
11,223,150.00
11,092,355.50
15,990,460.00
16,649,275. 50
17,909,793.00
18,626,437.50
20,085,274.50
26,272,086.00
30,936,97L00
25,857,368.00
24,724,135.00
25,454,254.50
39,535,156,50
89,-562,083,00
32,288,770, 50
$65,341,00
91,894,00
69,019.00
71,155.00
84,926.00
111,699.00
122,883.13
148,477.00
174,806. 50
291,351.00
308,547. 50
267,451. 50
295,300.00
469,965,00
532,949,00
640,328,00
Balance on
hand.
$4,203,973,31
9,967,390.65
4,731,248,16
3,790,578.-38
3,209,447,84
6,787,132.32
6,080,514.09
9,944,632.95
12,691,238.23
14,735,342.88
14,682, 532.31
11,372,838.12
12,377,478,38
62,277,880,08
20,645,203.88
25,755,606.45
237
TEEASUEEE.
No.
7 2 . — M O D E OF PAYMENT FOR N O T E S R E D E E M E D AT THE NATIONAL-BANK
REDEMPTION AGENCY, BY FISCAL Y E A R S , FROM 1895,"
silver,
United.States Gold,minor Credit in genand
currency.
eral account.
coin.
Transfer
checks.
Fiscal year.
$40,374,030.32
48,774, 713.30
55,567;032.90
42,186,863.86
24,730,838:15
28,433.009.35
65,935,811.50
61,870, 406.50
63,546, 511.10
95,594,893.78
107,599, 546.95
122,852,833,45
126,576,021. 21
172,719, 195.75
219,617,316.49
171,238,564.95
1895,
1890.
1897.
LS98.
1899.
1900.
1901
1902.
1903,
1904,
1905
1906,
1907
1908
1909,
1910.
$31,625,706.66
29,331,636.61
36,525,
39,921, ;.oo
49,339,232.75
55,877,819.20
58,986,983.30
74,811, 976,54
95,919: 828.26
123,598,863.47
146,513,051.41
123,371,677.16
62,747, 141.71
123,985, 460.05
165,668,045,30
250,279,342.33
311.34
Credit in
redemption
account.
$690,094.66
$61,236. 65 $13,604 654.93
82,669.45 28,893; 499.85
808,507,13
57,208.70 19,084, 125.58
1,366,304.33
83,747,40 13,733, 920.92
1,177,595.79
84,399.50 14,984, 970.20
1,016,521.41
78,301,35 11,380,978.28
456,009.20
41,954.90 21,508, 997.10
669,909,86
46,770,80 33,603; 045.00
716,084.80
47,084.45 36,178,517.50
669,216,76
31,829,60 41.360,571.40
1,157,040.46
81,430.80' 50,629; 868.00
1,992,834.52
109,491,20 46,965, 078,53
1,875,874.92
151,594.40 47,676! 609,25
1,683, 179.85
190,323,65 48,732, 300.17
2,922,415.83
187,978.58 65,451',853.20
8,611,517.70
239,196.18 65,740; 145. 68 12,102, 665.42
Total.
$86,355,723, 22
107,891,026, 34
112,599,879,51
97,103, 360,72
90,156, 548,46
96,226, 281,48
147,143; 649.90
171,048, 135.36
196,36i; 193,28
261,742.; 386,65
306,817; 357.43
295,174; 419,81
238,834; 864.76
348,549; 280.70
459,537; 008.30
499,599; 883.57
N o . 7 3 . — D E P O S I T S , REDEMPTIONS, ASSESSMENTS FOR E X P E N S E S , AND T R A N S F E R S
AND REPAYMENTS ON ACCOUNT OF THE F I V E P E R CENT R E D E M P T I O N F U N D OP
NATIONAL B A N K S , BY FISCAL Y E A R S , FROM 1895.
Fiscal year.
1895
1890
1897
1898
1899
1900
1901..:
]902
1903
1904
1905
1906
1907 . . .
1908
1909
1910
:
Deposits,
$76,530,065.50
91,565,065.77
107,249,316.44
83,511,779,36
75,885,139,10
78,354,882.88
131,535,726.84,
• 148,687,860,75
169,458,351,28
230,952,146,79
282,914,986,56
279,186,849,35
214,858,638,72
260,678,988,70
415,116,821,67
465,351,212.01
n
Assessments. Transfers na s .d
repayme t
Redemptions,
$74,907,472.50
90,967,815,00
106,608,977,50
81,817,265,50
73,982,227,50
74,872,477.50
128,928,835.00
147,010,875,00
167,643,585,50
228,324,620,00
280,998,292.50
272,996,587.50
212,082,400.00
261,197,305,00
409,517,715,00
461,232,132.50
$107,222'. 51
100,159.28
114,814.32
125,971,49
130,417,31
121,420,28
122,544.28
153;334,03
156,409,72
• 176,464.24
223,672.88
249,350,38
248,742.26
234,300.66
271,934.30
398,612.85
$510,917.34
273,425.83
671,838.92
924,597,79
1,041,481,13
1,021,916,07
723,459,79
1) 622,486.52
1,176,007,51
1,351,771,62
977,191,78
1,570,711.55
i;480,983.67
2,347,492,91
2,367,908.44
1,675,725.54
Balance.
$7,349,343.80
7,573,009,46
7,426,695,16
8,070,639,74
8,801,652.90
11,140,721.93
12,901,609,70
12,802,774.90
13,285,123.45
14,384,414,38
15,100,243,78
19,470,443,70
20,516,956,49
17,416,846,62
20,376,110,55
22,420,851,67
N o . 7 4 : . — D E P O S I T S , R E D E M P T I O N S , AND T R A N S F E R S AND R E P A Y M E N T S ON ACCOUNT
OP THE R E T I R E M E N T REDEMPTION ACCOUNT, BY FISCAL Y E A R S , PROM 1895.
Deposits.
Fiscal
year.
1895.....
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905.....
1906
1907
1908..-..
1909
1910
Redemptions.
Insolvent and
liquidating.
$2,870,751,00
2,466,435,50
3,685,082.00
3,960,390,50
5,578,175,00
3,776,186,00
2,795,986,00
8,314,110,50
10,029,185,50
8,027,613,00
15,862,474.00
19,207,465.10
11,029,187.00
30,743,532.00
14,841,244.50
14,341,980,00
Reducing.
$9,346,995,50• $12,217,746,50
6,125,742.50
3,659,307,00
16,009,512.00
12,324,430,00
22,760,920,50
18,800,530.00
23,699,616,00
18,121,441,00
18,402,646,00
14,626,460,00
13,657,275,00
10,861,289,00
33,546,320.00
25,232,209.50
27,210,255,50
17,181,070,00
26,907,088,00
18,879,475,00
24,164,169,00
8,301,695,00
36,675,207.60
17,467,742,50
33,253,849.50
22,224,662,50
67,856,369.50
37,112,837,50
45,621,739.50
30,780,495,00
31,674,292.50
17,332,312.50
Transfers a n d
. repayments.
Balance.
Total.
$13,068,369,00
11,223,150.00
11,092,355.50
15,990,460,00
16,649,275,50
17,909,793,00
18,626,437,50
20,085,274,50
26,272,086,00
30,936,971,00
25,857,368.00
24,724,135,00
25,454,254,50
39,535,156,50
89,562,083,00
32,288,770,50
$161,574,00 $25,359,489,00
160,059,00 20,102,022.50
560,542,00 24,458,637,00
735,950.50 30,493,147,00
1,726,106,00 35,817,38L50
1,162,356,00 35,147,878,50
774,406,50 29,404,309,50
793,385.50 42,071,969,50
2,956,830,50 40,053,308.50
496,883,00 35,526,542.50
1,606,24L50 32,227,102.00
1,542,535,60 42,635,639.00
2,776,429,50 47,658,804,50
,3,520,733.00 72,459,284,50
28,518,941.00
27,904,463.00
•
238
BEPORT ON T H E EINANCES.
No. 75.-
-ExpENSEs INCURRED IN THE R E D E M P T I O N OF NATIONAL-BANK
BY FISCAL Y E A R S , FROM 1895,
NOTES,
Salaries.
Charges for
transportation.
Fiscal
year.
1895....
1896....
1897....
1898....
1899....
1900
1901....
1902
1903....
1904....
1905
1906....
1907....
1908....
1909....
1910....
No.
Office of
T r e a s u r e r of
the United
States,
Office of
Comptroller
of t h e Currency.
$60,062.29
61,235,19
61,262.80
70,424.24
70,34L01
70,173. 58
70,783.34
70,761,90
.83,012.64
97,737,26
104,739,87
116,288.39
123,145,38
124,950,19
199,336,89
212,988.34
$16,349.68
16,531.35
16,714,82
16,759, 40
16,820.00
16,812.72
16,272.76
16,663.35
16,790.03
16,803,54
21,497,76
19,767,63
28,332.39
31,47L00
30,707.91
29,985.99
$21,035,82
32,518,93
44,518,50
34,337,93
30,725,56
31,767,33
55,549,75
59,957.96
67,998.88
95,580.12
111,561,20
104,477.20
73,101.56
104,685,62
147,020.70
171,073.57
Stationery,
printing, and
binding.
Contingent
$2,173,41
2,825.97
2,515.92
3,387,11
1,966,34
3,561,94
2,859,25
4,621.51
4,693.88
. 6,055.20
7,506.28
6,790.10
.
5,909.36
8,506,90
10,748,36
12,036.34
$731,59
974.19
49.69
1,015.67
1,438.49
669.19
771.08
1,791,61
1,982.19
2,917,01
2,668.15
3,600,92
3,16L83
1,226.50
8,929,29
8,009,16
R a t e of
expense
per $1,000.
Total.
$100,3.52.79
114,085.63
125,061.73
125,924.35
121,291.40
122,984. 76
146,236,18
153,796,33
174,477,62
219,093.13
247,973,26
250,924,24
233,650.52
270,840.21
396,743.15
434,093.10
$L15
1.125
1.0701
1. 29646
1.34611
1.33558
,9956
,92444
,90262
,84710
,80993
,84528
.98615
,90366
. 79762
.88066
7 6 . — G E N E R A L CASH ACCOUNT OF T H E NATIONAL-BANK R E D E M P T I O N A G E N C Y
FOR THE FISCAL Y E A R 1910, AND FROM J U L Y 1, 1874.
For fiscal year.
$20,645,203.88
502,498.993.94
74; 856.24
CR.
National-bank notes forwarded to banks of issue
National-bank notes dehvered to Comptroller of the Currency
Moneys deposited in Treasury
Packages referred and raoneys returned
Express charges deducted
Counterfeit notes returned
Uncurrent notes returned or discounted
'..
"Shorts"
Cash balance June 30,1910
Total
No.
5,879,950,577,01
118,015,100.00
375,834,053.00
640,328.00
2,874,472..00
596,45
910,05
10,723,31
87,264,80
25,755,606,45
1,849, 106,476,00
3,838, 249.017,60
137, 687;024,18
105,445,03
87,575,32
93,607,65
171,217,48
694,607,30
25 755,606,45
523,219,054,06
Total
$5,879,194,986.65
755,590,36
523,219,054,06
DR.
Balance from previous year
National-bank notes received for redemption
" Overs"
Frora July 1,1874.
5,879,950,577,01
7 7 . — A V E R A G E AMOUNT OF NATIONAL-BANK N O T E S
AMOUNT R E D E E M E D , BY FISCAL Y E A R S , PROM
O u t of deposits for retirement.
REDEEMABLE
1895.
AND
O u t of 5' per cent fund.
Fiscal year.
Average
redeemable.
1895
1896
1897
1898
1899
1900.-.
1901
1902
1903
1904
1905.:
1906
1907
1908.
1909
1910.
. -
....
$27,720,318
22,604,148
21,513,208
29,679,023
32,023,249
36,424,466
31,258,712
35,966,721
43,179,711
38,920,347
32,798,435
38,019,161
47,075,981
57,388,822
44,837,970
28,243,118
Redeemed.
Average
redeemable.
Redeemed,
fit for use.
$13,068,369
11,223,150
11,092,355
15,990,460
16,649,275
17,909,793
18,626,437
20,085,275
26,272,086
30,936,971
25,857,368
24,724,135
25,454,255
39,535,156
89,562,083
32,288,770
$180,140,091
194,529,212
211,375,241
198,491,851
207,264,424
223,869,280
308,625,545
322,207,220
339,993,484
389,966,135
435,487,040
500,046,264
542,369,618
605,084,732
635,828,337
679,676,209
$35,055,620
46,946,190
37,659,960
27,124,260
23,472, 650
25,620,660
57,668,715
57,303,520
62,563,430
92,025,555
106,286,870
88,930,700
43,140,205
62,194,650
89,629,100
118,015,100
Redeemed,
unfit for use.
$40,094,540
43,866,375
69,014,688
54,858,156
50,530,828
49,006,445
71,432,232
89,646,745
104,604,266
136,444,405
174,417,383
184,561,828
168,940,465
196,449,108
321,445,552
343,545,283
Total
redeemed.
• $75,150,160
90,812,565
106,674,648"
81,982,416
74,003,478
74,627,105
129,100,947
146,950,265
167,167,696
228,469,960
280,704,253
273,492,528
212,080,670
258,643,758
411,074,652
461,560,383
239
TREASURER.
No.
7 8 . — P E R C E N T A G E OF OUTSTANDING NATIONAL-BANK N O T E S R E D E E M E D AND
ASSORTED EACH FISCAL Y E A R PROM 1901, BY GEOGRAPHICAL D I V I S I O N S ,
Division.
Maine
New Hampshhe.
Vermont.
Massachusetts
Boston
R h o d e Island
Connecticut
New England.
N e w Y o r k '.
New York City..
N e w Jersey
Pennsylvania
Phhadelphia
.Delaware
Maryland
Baltimore
District of C o l u m b i a .
Eastern.
Virginia
W e s t Virginia
N o r t h Carolina
South'Carolina...
Georgia
Florida
Alabama
Mississippi
Louisiana
N e w Orleans.
Texas.Arkansas
Kentucky
Tennessee
P o r t o Rico
1901.
1902.
1903.
55.23
58.00
53.87
60.94
51.55
53.43
53,32
61,78
55.33
59.69
59.03
64.85
54.51
56,96
55,95
61,95
56,27
63,67
58.37
59,03
62.14
59.50
64.84
73.07
68.68
42.62
70.48
46.39
73.51
54.78
42.75
61.44
46.78
70.77
55.86
83.16
57.31
64.90
63.80
53.73
58.43
66.88
46.37
32.03
63.23
64.53
47,58
41,68
43.57
31,25
36,81
46.29
36.67
51.22
52.18
41.08
47.29
42.01
34.47
41.00
31,95
28,19
25,15
31,89
36,01
38.57
31,60
34,10
39.42
49.84
50.33
44.88
42.66
43.10
47,23
56,22
36,81
34,86
36,68
35,06
6.75
1904.
1905.
1906.
1907,
1908,
1909.
67,93
70.36
69.65
87,66
67,54
80.56
66.49
69,61
70.73
73.78
86.82
80.27
87.76
55.31
59,40
60,16
65.33
78,32
68.43'
73,10
41,54
42,19
44,91
45.52
51.62
53,59
50,51
43,59
43.83
47,17
47,21
50,96
54,44
54,98
74,41
76,76
79.81
82,21
97,16
81,59
98,79
73.25
77,39
86.63
67,10
47.36
49.31
69.24 74.54 70.13
101,62 114.02 83.60
89.17 104.52 89.33
62.13 68.69 60.72
81.97 78.18 73.47
61.10 66.87 65.01
64.15 82.23 79.66
134.30 143.86 111.89
74.24 86.77 75.88
46.04
47.23
57.70
47.00
52.67
54.05
63.11
75.57
60.83
54.31 98,23
54.07 100,09
60.07 121.25
48.44 82.54
51.55 90.18
51.87 82.99
57.25 93.77
63.75 98,04
63,03 105.57
80.46
88.70
74.56
49.75
53.20
94.60
53.26
51.59
54.64
62,29
58.56
49,63
47,66
48,92
39,25
74,87
41,82
32.20
42,24
38.63
67.25
69.85
60.39
69.24
77.37
60.88
55.80
54.16
51,10
41,99
64,28
48.24
40,27
48,19
45.02
55.90
58.02
52.02
55.73
61,30
52,55
46,86
44.08
50.71
40.43
71.09
39,75
33,60
42.32
41.85
65.90
44.58
38.44
43.56
45.19
41.02
40.70
35.23
37.01
44.28
66.04
30.80
28.62
33.52
35.99
37,05
56,25
49,70
58,73
58.33
54.65
45,75
54.66
43.66
46.63
48.79
45,68
40,82
40.44
43.68
57'. 15
82.35
71.54
86.25
88,40
78,58
78.98
76.19
63,30
70.42
76,14
59.46
57.28
57.21
63.83
71,80
Southern.
36,34
38.17
41.25
47.55
54.64
46,83
37,63
48,36
9,18
Ohio
Cinchinati.
Indiana..
Illinois
. Chicago
Michigan
Wisconsin.
Minnesota
Iowa
Missouri
St, L o u i s . . .
27,62
31,61
35.77
24.41
26.93
26.29
32.84
28.74
35.45
27.71
24.98
25.25
24.40
24.93
27,65
27,04
26.45
27.90
41.18
31.37
31.39
29.75
32.51
38.26
41.75
52.43
35.88
35.50
56.69
34,42
30.70
34.43
35.62
28,83
51,58
46.15
53.43
40.61
40.27
55.31
39.35
34.64
39.70
40.30
41,34
53,44
40,76
40.23
34.85
35.93
38.68
34.38
27,80
32,72
33.18
32.32
42.36
34.27
30.96
29.24
30.02
31.82
28.70
24.52
26.44
27,52
27,65
37.84
38.12
36.37
33.59
33.98
26.93
31.68
29.99
32.81
31.51
37.56
36.41
55.83
67,69
50,92
49,93
49,10
47,13
47.00
50.97
43.07
50.61
54.99
26.25
32,00
34,45
39,59
43.96
36,75
30,75
33,90
51,63
23.37
28,30
24.64
22,42
30.54
25.07
22.19
29.80
17.46
28.70
25.34
28.53
31.75
29,63
27,80
29,41
32.32
32.41
30.38
33.41
29,89
31,40
34.51
32,00
33.70
34,53
39.72
37.97
32.24
37.13
34.83
35.91'
35.30
34.54
37.80
38.33
40.43
44.84
34.90
39.48
40,70
36.30
37.32
41,42
40,09
41,74
35.87
49,23
50,22
49,54
32,97
32.82
30.90
34,42
35.03
35.20
32.17
42.44
37.88
36.20
24.99
27.08
26.04
27.78
29.06
27,55
30,93
31.71
30.18
30,72
34.42
32.85
30.07
33.02
34,33
37,47
33,65
39,86
41,29
51,43
43,44
44,72
45.44
51.31
53.92
53.89
52.03
59.31
34.52
36.79
40.78
33.81
28.41
34.45
50.07
47.03
57.48
52.13
45.20
42.27
40.64
46.03
48.40
26,80
96.57
35.62
46.53
48.25
38.49
33.56
35.15
45,14
43,35
14,29
88.31
31.74
33,39
35,56
33.89
28.63
31.03
44.71
36.38
26,32
60.55
33.66 51.78
44.92 65.25
44.99 73.35
37.82 65,67
34.90 51.42
38.71 55.19
58.21 67.71
50.19 65,74
32.32 48.80
59.55 116.23
Middle...
North Dakota
South Dakota
Nebraska
Kansas
Montana
Wyoming
Colorado
N e w Mexico
Oklahoma
Indian Territory.
Western.
24.04
30.62
Washington
,
Oregon
Cahfornia
San Francisco.
Idaho
Utah
Nevada
Arizona..
Alaska
Hawah
30.68
33.45
32.24
33.92
35.24
37.35
28.02
21.66
33.73
32.21
16.00
12.58
29.21
29.67
37.48
37.35
12.00
54.56
34.06
33.26
41.54
42.96
10.00
45.22
44.06
51.22
48.72
46,33
38.45
43.98
28.47
49,65
18,40
139.99
Pacific
30.54
35.64
41.50
47.57
49.10
42.35
34.40
41.34
66.02
0.52
65.84
55,21
40,27
44,87
72.85
United States.
46.82
240
REPORT" ON T H E FINANCES.
N o . 7 9 . — A V E R A G E AMOUNT OP NATIONAL-BANK N O T E S OUTSTANDING AND T H E
REDEMPTIONS, BY FISCAL Y E A R S , PROM 1875 ( T H E F I R S T Y E A R OP THE AGENCY),
Redemptions.
Redemptions,
Average
outstandmg.
Year.
Amount.
1875.-.
1876...
1877
1878.
1879
1880 .
1881
1882. .
1883
L884...
1885
1886
1887
1888
1889.;
1890
1891 ..
1892
No.
Per cent.
$354,238,291 $155,520,880
344,483,.798 209,038,855
321,828,139 242,885,375
320,625,047 213,151,458
324,244,285
157,656,645
339,530,923
61,585,676
•. 346,314,471
59,650,259
359,736,050
76,089,327
359,868,524
102,699,677
347,746,363 126,152,572
327,022,283 150,209,129
314,815,970
130,296,607
293,742,052
87,689,687
266,622,692
99,152,364
230,648,247
88,932,059
196,248,499
70,256,947
175,911,373
67,460,619
172,113,311
69,625,046
80.—CHANGES
Average
outstanding.
Year.
43 90
60 68
75,47
66,48
48,62
18,13
17,22
21.15
28,53
36,27
45 93
41 38
29 85
37 32
38 55
35 80
38 34
40 45
THE
TREASURER'S
1910 IN THE F O R C E EMPLOYED
566
146
:
Discontinued
Died
Resigned
Transferred from.
Detailed from
Details discontinued
I
5
22
38
2
70
:...,
•
43.40
51,30
41.71
49,85
48,76
42,56
37,96
37,25
43,39
47,98
5L26
61,12
65,84
55,07
40,77
52.78
67,80
70,98
OFFICE.
Total force June 30,1909:
Regular roh
Detailed to
Appointed
Reappointed
Transferred to
Detailed to
Per cent.
$174,755,355 $75,845,225
105,330,844
205,322,804
86,709,133
207,860,409
108,260,978
217,133,390
113,573,776
232,888,449
97,111,687
228,170,874
90,838,301
239,287,673
96,982,608
260,293,746
147,486,578
339,884,257
358,173,941 171,869,258
196,429,621
: .." 383,173,195
428,886,482 • 262,141,930
468,285,475 308,298,760
296,292,885
538,065,425
589,445,599 240,314,681
349,634,341
662,473,554
461,522,202
680,666,307
707,919,327. 502,498,994
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905..
1906
1907
1908
1909
1910
D U R I N G T H E FISCAL Y E A R
IN
Amount,
10
2
64
29
:
Total force June 30,1910
712
138
105
33
679
N o . 8 1 . — A P P R O P R I A T I O N S MADE FOR THE F O R C E EMPLOYED IN THE T R E A S U R E R ' S OFFICE AND SALARIES P A I D D U R I N G T H E FISCAL Y E A R 1910,
:
Reimbursable roll (force employed in redemption of national
currency)
Deficiency appropriation
:
Total
Aggregate:
Regular roll
Reimbursable roh
Total..
•. '..:
Expended,
Balance
unexpended.
$465,020.00
$446,342.93
$18,677.07
173,160.00
43,203,49
171,000,00
42,511.38
2,160,00
692.11
213,511,38
2,852.11
465,020.00
216,363.49
Regular roll
Appropriated,
216,363.49
Roll on which paid.
446,342,93
213,511,38
18,677,07
2,852.11
681,383.49
659,854.31
21,529.18
REPORT OF THE DIRECTOR OF THE MINT.
TREASURY DEPARTMENT,
B U R E A U OF THE M I N T ,
Washington, January 6, 1911.
SIR : In compliance with the provisions of section 343, Revised Statutes of the United States, the following report covering the operations
of the mints and assay offices of the United States during the fiscal
year ended June 30, 1910, being the thirty-eighth annual report of the
Director of the Mint, is respectfully, submitted:
VOLUME OF COINAGE.
The value of the coinage executed at the mints in the fiscal year
ended June 30, 1910, was less than in the preceding year, and considerably below the value of the gold deposits. The gold deposits in
the fiscal year 1909 amounted to $142,124,941.59 and the gold coinage of that year was $120,399,953.35. The gold deposits in the
fiscal year 1910 amounted to $126,767,967, and the gold coinage for
the latter period was only $47,578,875. The principal reason for
not doing more coinage was that automatic weighing machines were
under construction which were expected to materially reduce the
cost of weighing the individual coins, and pending their completion
gold bulHon was allowed to accumulate.
AUTOMATIC MACHINES.
For a number of years the machine shop of the Philadelphia Mint
had been at work developing an automatic weighing machine to do
away with the hand weighing of each individual coin produced. The
first machine was completed in 1907, was a success, and exhibited at
the Jamestown Exposition. About that time, however, the experts
who were engaged upon this machine were called upon to build a
machine for the customs service, which they were successful in doing,
but the task diverted them temporarily from the equipment of the
mints. Four machines were completed by the end of 1908, and early
in 1910 the Philadelphia machine shop began work upon four more.
These machines have now been completed and are in use, three in
241
65872°—FI 1910
16
242
REPORT ON T H E FINANCES.
San Francisco, two in Denver, and three in Philadelphia. They are
very satisfactory and have accomplished an important reduction in
the number of employees in the mints.
During the year an automatic feeding apparatus was placed upon
all the coimng presses in the Philadelphia Mint, accomplishing a considerable reduction in the number of employees required to operate
the 21 presses in t h a t institution. , These feeds have also been introduced at Denver and-San Francisco. Similar apparatus had previously been attached to the upsetting machines.
REDUCTION IN COINAGE OPERATIONS.
An important reduction in the amount of work for the mints to do
has occurred in recent years by reason of the cessation in the coinage
of silver dollars and the practical completion of the Philippine stock.
The silver bullion purchased under the act of July 14, 1890,'was
exhausted in 1905, and the coinage of dollar pieces, which had been
at the rate of 1,500,000 per month, ended with it. The record coinage for the mints is that of the fiscal year 1902, which amounted in
value to $228,202,151.55, not including 12,552,629 pesos in silver and
a considerable minor coinage for the Philippines, and 2,730,000 pieces
for foreign countries.
There were in operation, in this record year only three mints, to wit,
those at Philadelphia, New Orleans, and San Francisco. The opening of the new mint at Denver in 1905 came, therefore, almost simultaneously with an important reduction in the amount of coinage to be
done and at a time, moreover, when new labor-saving machines and
devices were about to seriously diminish the number of employees
required*.
NEW ORLEANS MINT IDLE.
- The result of all these influences has been to force a scaling down of
operations in all of the mints and a suspension of coinage in the New
Orleans Mint. The amount of gold which is available for coinage at
New Orleans is small, and the total coinage of the country can be
done materially cheaper at three mints and with three organizations
than at four mints and with four complete complements of officers
and employees. The amount of coinage which could be given to the
New Orleans Mint under these conditions did not warrant the continuance of operations there, and they were suspended April 1, 1909,
and a large reduction of the force made at that time. At various
dates in 1910 further reductions were made, and there appearing to
be no likelihood that the mint could advantageously resume operations in the near future, the estimates for 1911 have been made for
the conduct of the institution as an assay office olily. The appropriations asked total $17,940, which compares with $107,300 appropriated for the fiscal year 1911.
THE MINOR ASSAY OFFICES.
In the estimates submitted for 1912 the assay offices at Charlotte
and St. Louis are dropped, for the reason that the volume of business
handled is unimportant and that the few producers making use of
them could without much inconvenience send their bullion direct to
DIRECTOR OF MINT.
243
the mints, thus saving the Treasury not only the cost of maintaining
the offices, but the cost of transporting the bullion to a mint. The
larger part of the deposits at the St. Louis office come from Chicago
and Cincinnati and the depositors could as well send them direct to
the Philadelphia Mint as to St. Louis.
When the policy of maintaining assay offices in the producing districts was entered upon, the gold production of the country was
chiefly from placers and by the labor of individual miners working
claims on their own account. The Government assay offices were
designed to serve these niining communities by giving reliable assays
and by melting the placer dust and nuggets into bars, which were
returned to the depositor with the weight and fineness stamped upon
them; t h a t is to say, they performed in a simpler maimer the function of a mint. Later, the further step was taken, by way of increasing the service of these offices to the public, of buying the bullion at
its coinage value, thus saving the miners from the exactions of the
bullion buyer. This was done in 1878, and still later Congress inaugurated the policy of shipping the bullion to the mint at the expense
of the Treasury instead or collecting the transportation charge from
the depositor. This policy is still maintained.
I t is apparent that the conditions surrounding the production of
gold and which prompted the establishment of these assay offices have
radically changed. At the time the offices at Denver, Helena, and
Boise were established, not only was the production chiefly at the
hands of individual miners who were obliged to dispose of their
gold on the spot, but these localities were distant from a railway and
the risks and cost of transportation were a serious handicap to the
producers. When. these offices were established, the country was
using inconvertible paper as currency, and it was deemed a wise
public policy to encourage the production of the precious metals and
the exploration and development of the districts an which these metals
were known to exist. At the present time, however, our gold production is mainly by well-organized companies and from ores, which are
commonly shipped to smelters or reduction works, and the product
eventually reacnes the offices of the mint service at some distance
from the place of production. A large share of the receipts of these
assay offices come to them by express, in many instances costing the
shippers practically as. much as would shipment direct to a mint.
For example, a producer in Nevada, who ships bullion to the assay
office at Salt Lake City^ as a number of them do, might as well sliip
it direct to the San Francisco Mint, thus saving the Government the
expense of transporting it from the assay office to a mint.
In view of these conditions Congress may well consider whether the
service now rendered by these offices warrants the expenditure for
their maintenance.
GOLD CERTIFICATES AGAINST BULLION.
I n the report of this bureau for the fiscal year 1902, the director
called attention to the uselessness of coining all the gold bullion and
foreign coin received at the mints, and again in the report for 1904
the embarrassment occasioned by the statutory requirement that so
244
REPORT ON T H E FINANCES.
much of the reserve fund must be kept in coin was pointed out.
paragraph in the 1902 report is as follows:
The
I t is opportune here to caU attention to the fact that the gold coinage of the country
is now entering almost entirely into storage and that the cost of coinage is an unnecessary expense. The Treasury holds now about $500,000,000 of coined gold, which is
doubtless more than will be called for in a generation to come. Practically all of the
current coinage is being deposited in the Treasury for certificates, ' When gold is
required for export it is wanted in bars, while for domestic circulation the public
prefers the Treasury certificates, which, with some modifications of the statutes, might
as well be issued against bars, '
The case is stronger now than then, for the amount of coined gold
in the Treasury is more than double the sum held at that time.
In the report for 1904 I said:
There has never been any continued demand upon the Treasury for gold except for
export, and a demand for export is always a demand for bars. The exporters prefer
bars because the latter are always of full weight, while all coin that has been in circulation is to some extent abraded. During the six months from January 1, 1904, to
July 1, 1904, the total presentations of United States legal-tender notes for redemption
in gold amounted to only $6,591,240, while in the same time the Treasury gave
$60,790,511, in gold bars in direct exchange for gold certificates. At times in the last
year it has been difficult to meet the demand for bars as fast as it came, and some coin
has doubtless been exported which would not have gone if bars had been available.
. It is clear that nothing is gained by compelling the mints to work bars up into coin
while it is being taken for export because bars can not be had. And it is equally plain
that the Treasury would not be weakened by carrying a larger proportion of its reserve
in bars.
Practically the entire gold production of this continent is going
into the vaults of the Treasury. This gold will never be wanted in
the form of coin. It will be held as the basis of our monetary system,,
but the habits of our people are fixed, and it is certain that they will
always prefer paper money for actual use. The only important demands upon the Treasury for gold have always been for bullion for
export. With $1,000,000,000 of coined gold in the^ Treasury it is
perfectly safe to permit the issuance of gold certificates against
bullion, allowing tne Secretary of the Treasury to determine in his
discretion when and how much shall be converted into coin. Such
action will result in important economies in the mint service.
DEPOSITS OF GOLD BULLION.
The value of gold bullion contained in original deposits at the mints
and assay offices during the fiscal year 1910 was $126,767,967. The
redeposits during the year, consisting of bullion transferred from one
office to another and bars bearing the stamp of one of the mints or
assay offices, amounted to $35,519,671. The value of the gold bullion
and uncurrent domestic and foreign coin received, including redeposits, amounted to $165,890,779, which was the total of gpld
receipts.
245
DIRECTOR OF MINT.
REDEPOSITS o r
GOLD B U L L I O N .
The redeposits contained 1,909,182 standard ounces of gold of the
value of $35,519,671, fine bars representing 13,050 standard ounces
($242,781), and unparted bars, representing 1,884,257 standard
ounces ($35,055,942), as follows:
Unparted bars deposited a t Bars manufactured a t -
Philadelphia.
San Fran. Cisco.
Fine bars deposited a t -
Denver.
Stand, ozs
Philadelphia
New Orleans
NewYork..
Boise
Helena
. ..
Charlotte
St. Louis..
Deadwood
Carson
...
Seattle
Salt Lake City'.
Stand, ozs. Stand, ozs
746
886,201
36,417
92,028
4,751
15,199
32,262
Philadelphia.
NewYork. San Francisco.
Stand, ozs. Stand, ozs. Stand, ozs.
51
6,124
13,736
. .-
69,284
342,392
.
1,067,604
Total
411,676
4,855
545
47
545
47
12,406
331,800
' 48,432
-404,947
12,457
There were redeposited at the Philadelphia Mint 11,876 standard
ounces of gold ^^mint^^ bars, made at the assay offiice at St. Louis,
resulting from deposits of uncurrent domestic coin. In addition to
the above, there were 9 ounces of gold contained in unparted bars
from the Charlotte office deposited at New York, and 20 ounces in
unparted bars from the Helena- office deposited at the Helena office.
D E P O S I T S OF F O R E I G N GOLD BULLION AND COIN.
Foreign gold bullion containing 847,200 standard ounces, of the
value of $15,761,852, and foreign gold coin containing 21,781 standard
ounces, of the ialue of $405,226, were deposited, and consisted of
bullion and coin produced in the following-named countries:
Refined bullion.
Crude bullion.
Source.
1
British Columbia
North westTerritory
Ontario and Quebec
Nova Scotia
Mexico
West Indies
Central America..
South America
Australia ..
Africa
Spain
Japan
Russia
. .
Germany
Turkey... England
Other
Total..
standard
ounces.
Value,
57,207 $1,064,313
196,490
10,561
11,434
615
96,078
5,164
892,064
47,949
50,588
2,719
88,241 1,641,703
-125,578 2,336,349
6
109
646
35
18
6,290,109
Value,
standard
ounces.
Value.
7,241
$134,717
501,848
9,336,714
193
$3,592
312
32
207
678
595
3,851
12,614
1,082
13,394
129
95
67
499
5,405
20,129
249,189
2,409
1,775
1,249
9,277
100,545
21,781
405,225
17
335
338,093
Standard
ounces.
Coin.
509,106
9,471,743
246
MI>OBf ON TH.E FINANCES.
DEPOSITS AND PURCHASES OF SILVER.
The deposits of silver received at the mints and assay offices during
the fiscal year ended June 30, 1910, for return to depositors in fine or
unparted bars, with the weight and fineness stamped thereon, aggregated 2,551,151.24 standard ounces. The United States assay office
at New York received the greater part of these deposits.
The government of the Philippine Islands deposited at the United
States mint, San Francisco, silver coin issued^under the act of March 3,
1903, containing 1,546,284.86 standard ounces, for recoinage into
coins of reduced weight and fineness, as authorized by the act of
June 23, 1906.
The purchases and deposits of silver bullion at the mints and assay
offices of the United otates during the fiscal year 1910 were as
follows:
standard
ounces.
Items.
282,485.34
2,313,355.55
607,354,47
2,551,151,24
1,546,284.86
silver purchased
Silver parted from gold deposits and purchased.
Uncurrent domestic coin for recoinage
For return in fine bars
For Philippine coinage transferred for recoinage
Total
7,300,631,46
REDEPOSITS OP SILVER BULLION.
The redeposits contained 2,238,505 standard ounces of silver; fine
bars representing 103,806 standard ounces; unparted bars representing 1,761,113 standard ounces; mint bars representing 373,586
standard ounces as follows:
Unparted bars deposited a t •
Made a t -
Philadelphia
New Orleans
Carson
..
New York
Boise
Helena
Charlotte
St. Louis.
Deadwood
Seattle
•
Salt Lake City
Total
Philadelphia,
'
1
....
. : .
San Francisco,
Denver.
Fine bars
deposited
at New
York.
Stand, ozs. Stand, ozs. Stand, ozs. Stand, ozs. Stand, ozs.
373,586
88,590
49
32,416
i,48i,i32
15,216
15,895
2,917
,...
57,266
6,304
537
1,378
46,126
5,599
46,239
45,406
19,836
1,602,383
78,655
80,062
Other small unparted contained 12 standard ounces.
Mint bars
deposited
at Philadelphia.
103,806
373,586
247
MBECTOK OF M I N T .
DEPOSITS OF F O R E I G N SILVER BULLION A N D S I L V E R COIN.
' Foreign silver bullion containing 1,291,378 standard ounces of the
coining value of $1,502,695 and foreign silver coin containing 14,706
standard ounces of the value of $17,113 were received from various
countries as follows:
Crude
bullion.
Countries,
British Columbia
N o r t h w e s t Territory
Ontario a n d Quebec
Nova Scotia..
Mexico
W e s t Indies
Central America
S o u t h America . .
China
Germany
Spain
;
O t h e r , unclassified
:
.0.
•
.
.
Refined
bullion.
Stand, ozs.
11,357
2,146
91,692
328
824,511
360
70,440
36,742
130
.
Coin.'
Stand, ozs. Stand, ozs.
123,602
124,058
• 39
1,443
1,485
^
:
8,344
169
3,226
8
1,043,714
Total
247,660
14,706
DEPOSITS OF GOLD AT U N I T E D STATES MINTS AND ASSAY OFFICES SINCE
1873,
Character of gold deposited.
Fiscal
year
ended
J u n e 30—
1873
-.
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887..
1888.......
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
I9I0
Domestic
bullion.
Domestic
coin.
$28,868,569, 78 $27,116,948, 27
29,736,387.82
6,275,367,29
34,266,124, 52
1,714,311. 50
37,590,529.39
417,947,15
43,478,a03. 93
447,339, 68
48,075,123.76
301,02L79
38,549,705.89
198,083.17
35,821,705,40
209,328. 82
35,815,036,55
440,776. 97
31,298,5n. 97
599,356.80
32,481,642. 38
374,129. 23
29,079,596.33
263,117.17
31,584, 436. 64
325,210. 97
32,456, 493. 64
393,545. 28
32,973,027.41
516,984. 63
32,406,306,59
492,512. 60
31,440,778,93
585,066.87
30,474,900,25
655,474. 96
31,555,116,85
- 583,847.16
31,961,546,11
557,967.86
33,286,167.94
792,470.43
38,696,951.40
2,093,615.46
44,371,949.83
1,188,258.21
53,910,957,02
1,670,005.53
60,618,239,77
1,015,314.39
69,881,120,57
1,187,682.99
76,252,487,23
I,158,307.57
87,458,836,23
1,389,096.68
92,929,695,86
1,116,179.86
94,622,078,39
1,488,448.16
96,514,298,12
960,907.95
87,745,626,63
2,159,818.57
101,618,315,38
3,404,966.63
103,838,268.01
1,514,291,19
114,217,462.44
2,754,283,29
111,735,877.77
3,989,772.90
119,727,439,13
3,432,288.62
104,974,558,73
3,603,139.90
T o t a l . 2,172,313,974,59
Foreign
bulhon.
$426,107. 44
3,162,519.92
739,439.66
1,141,905. 76
1,931,163.12
2,068,679.05
1,069,796.89
21,200,997.23
37,771,472., 26
12,783,807.04
4,727,143. 22
6,.023,734. 45
11,221,846.45
4,317,068. 27
22,571,328.70
21,741,042.44
2,136,516. 66
.2,691,932.29
4,054,822.86
10,935,154.69
2,247,730.78
15,614,118.19
14,108,435.74
6,572,390.14
9,371,521.03
26,477,370.06
30,336, 559.47
22,720,150,22
27,189, 659,12
18,189,416,90
16,331,058,92
36,802,224.39
17,645, 526.82
36,317,864,.38
36,656,545,85
71,774,350,81
16,021,521.02
15,761,852.42
Foreign coin.
Surplus b u l h o n , grains,
jewelers'
bars, old
p l a t e , etc.
$518,542.14
9,313,882. 47 .
1,111,792.26
2, 111, 083. 80
2,093,260.73
1,316,461,09
1,498,819, 71
40,426,559, 63
55,462,385,74
20,304,810, 78
6,906,0.83.80
9,095,461, 45
7,893,217.77
5,673,565. 04
9,896,512.28
14,596,885.03
4,447,475,99
5,298,773,93
8,256,303.80
14,040,187.70
6,293,296,33
12,386,406.81
2,278, 614,07
3,227,409,06 .
13.188.013.86
47,210,077,84
32,785,152,48
18,834,495,53
27,906,489,13
13,996,162.21
8,950,595.28
46.152.783.87
15,141, 678,08
6,648,511, 63
17,221,251,40
13,684,426,46
1,034,377, 62
405,225, 55
$774,218. 25
654,353. 56
724,625. 96
681,819. 32
837,911. 25
907,932. 20
937,751.14
1,176,505. 77
1,343,430, 93
1,770,166. 36
1,858,107,42
1,864, 769. 26
1,869,363.26
2,069,077. 00
2,265,219.85
2,988,750.90
3,526,597.31
3,542,013.83
4,035,710.15
3,636,603.08
3,830,176.02
3,118,421,45
3,213,809,43
3,388,622.06
2,810,248.66
2,936,943.37
2,964, 683.90
3,517,540.93
3,959,656.64
4,284, 724.22
4,247,582. 64
4,892,930.88
5,568,482.95
4,790,558,31
5,731,111,55
6,231,547,01
5,341,603,82
5,626,330,84
Total.
$57,704,385.88
49,142,511. 06
38,556,293. 90
41,943,285. 42
48,787,778. 71
52,669,217. 89
42,254,156. 80
98,835,096.85
130,833,102. 45
66,756,652. 95
46,347,106. 05
46,326, 678. 66
52,894,075.09
44,909, 749. 23
68,223.072,87
72,225,497.56
42,136,435.76
42,663,095.26
48,485,800.82
61,131,460. 04
46,449,841.50
71,909,513,31
65,161,067,28
68,769,383,81
87,003,337,71
147,693,194.83
143,497,190, 65
133,920,119.59
153,101,080. 61
132,580,829.88
127,004,442.91
177,753,384.34
143,378,969.86
153,109,493.52
176,580,654.53
207,415,974.95
145,557,230.21
130,371,107.44
77,387,180.50 592,854,774.66 507,607,032.35 113,919,902.08 3,404,082,870.18
248
REPOET ON T H E FINANCES.
DEPOSITS OF SILVER AT U N I T E D STATES MINTS AND ASSAY OFFICES SINCE
1885.
Character of silver deposited.
Fiscal year ended
J u n e 30—
1885.
1886
1887. •
1888
1889..
1890
1891..
1892
1893
1894.
1895
1896.
1897
1898
1899
1900
1901.
1902
1903
1904
1905
19061907
1908
1909
1910..
.
Domestic
bullion.
Doraestic
coin.
Fine ounces.
24,943,394
25,101,639
29,293,372
28,921,649
29,606,387
29,187,135
50,667,116
56,817,548
56,976,082
15,296,815
• 6,809,626
4; 420,770
3,914,985
2,116,690
5,584,912
4,977,978
2,466,749
1,425,060
12,523,630
9,991,187
4,923,655
2,398,871
20,388,163
16,114,553
5,375,389
1,547,145
451,790,500^
Total
. Foreign
bullion.
Foreign coin.
S u r p l u s bullion, grains,
jewelers'
bars, old
• plate, etc.
F i n e ounces.
867,856
628,545
271,166
67,549
328,276
951,162
1,970,912
349,652
505,171
422,725
15,291
150,942
101,157
6,808
19,382
44,704
4,250,196
29,265
21,869
34,039,100
6 7,796,761
7 1,348,991
8 4,963,403
9 9,005,007
107,342,229
1,404,882
F i n e ounces.
336,981
361,316
396,656
485,190
502,223
526,270
633,073
572,661
582,728
467.958
580,125
604,386
473,755
249,468
484,751
557,831
567,647
575,430
627,108
652,015
739,310
632,544
636,722
648,007
520,715
460,935
F i n e ounces.
28,454,591
27,452,532
36,936,992
31,966,955
31,895,132
32,983,024
55,676,661
64,332,725
65,149,604
22,194,459
11,783,088
9,027,623
7,324,935
3,826,003
12,866,108
10,256,524
11,204,311
5,456,868
16,794,981
18,116,400
16,703,378
8,506,377
29,310,560
29,517,051
16,225,115
5,123,964
46,903,001
13,875,805
609,085,961
F i n e ounces. Fine ounces.
678,741
1,627,619
216,015
1,145,017
5,848.585
1,127,213
I,202;177
1,290,390
394,346
1,063,900
466,302 •
1,852,155
637,652
1,767,908
5,036,246
1,556,618
5,346,912
1,738,711
5,012,060
994,901
3,015,905
1,362,141
3,170,768
680,757
2,208,953
626,085
1,243,050
209,987
6,060,986
716,077
3,587,992
1,088,019
2,613,570
1,306,149
2.275,090
1,152,023
12,511,911
1,110,463
2 2,072,397
1,361,701
4 1,337,242
1,906,410
3,165,170
6 960,801
2,552,003
770,269
786,085
2,963,399
659,935
2,326,847
548,821
1,172,240
58,662,811
37,863,903
Total.
1 Includes 461,686 fine ounces Hawaiian coin,
2 Includes 148,788 fine ounces Hawaiian coin,
3 Includes 6,901 fine ounces Philippine special assay coins,
4 Includes 3,647 fine ounces Hawaiian coin,
6 Includes 3,456 fine ounces Philippiae special assay coins.
6 Includes 3,895 fine ounces Hawaiian coin.
7 Includes 2,663 fine ounces Philippine special assay coins,
8 Includes 4,680,791 fine ounces Philippine coins.
9 Includes 3,411 fine ounces Philippine assay coins and 8,866,622 fine ounces Philippine coins for recoinage.
10 Includes 5,739fineounces Philippine assay coins and 7,314,573 fine ounces Philippine coins for recoinage.
COINAGE OF T H E U N I T E D STATES FOR T H E FISCAL YEAR 1910,
The domestic coinas:e was as follows:
Description.
Gold
Silver, subsidiary...
Nickel 5-cent pieces.
Bronze 1-cent pieces
Total
Value.
5,069,146
17,272,355
17,055,638
148,609,529
$47,578,875.00
4,297,567.25
852,781.90'
1,486,095.29
188,006,668
54,215,319.44
Of the subsidiary coinage made during the year $76,836.50 were
from uncurrent domestic coin received for recoinage and $4,220,730.75
from silver purchased under the provisions of section 3526, Revised
Statutes.
249
DIRECTOB O F . M I N T .
STANDARD SILVER DOLLARS U S E D IN S U B S I D I A R Y S I L V E R C O I N A G E .
There were purchased as bullion and melted at the mints and
assay offices 961 mutilated silver dollars during the fiscal year 1910,
which were used in the manufacture of subsidiary silver coin.
The following have been used since 1883:
Fiscal years.
Amount,
$621
1883
1884
1885
1886
1887
1888
1889
1890
1,850
8,292
14,055
31,042
11,977
Fiscal years.
Amount.
$10,8(50
42,881
10,500
15,055
18,580
' 2,034
1,898
1,365
1891
1892
1893
1894
1895
1896
1897
1898..
Fiscal years.
1899
1900
1901
1902
1903
1904 . .
1905
1906
Amount.
$1,734
1,341
1,786
1,893
1,777
1,304
2,298
909
Fiscal years.
1907
1908
1909
1910
Amount.
$1,548
1 170
1,293
961
Total
188,964
R E C O I N A G E OF U N C U R R E N T U N I T E D STATES C O I N .
The table following shows the face value of abraded subsidiary coin
transferred and purchased for recoinage, the amount of new coin
made therefrom, and the loss since 1891:
Face v a l u e .
Fiscal years.
1891
1892
1893
1894
1895
1896
1897.....
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908.
1909
1910
. .
:
•.
Total
Value of n e w
coin p r o d u c e d .
$910,046,69
7,118,602.78
7.618,198.25
7,184,472.17
4,361,761.36
4,627,141.46
3,197,998.50
6,109,772.32
8,584,304.26
5,261,070,35
3,832,280,69
3,333,437. 06
3,008,747.98
2,828,384,90
1,964,476,11
1,414,963.90
1,142,184.00
1,162,982.06
977,321.23
814,361,57
$861,680,41
6,937,886,02
7,381,289,58
6,9.24,753,05
4,161,820,73
4,377,258,40
3,048,861,64
5,820,159,16
8,098,485,18
4,950,088,96
3,613,021.59
3,141,548.04
2,829,890.71
2,656,104.21
1,839,219.24
1,322,834.27
1,064,826.39
1,086,691.94
912,300.40
758,695.55
75,452,507,64
71,787,415.47
Loss,
.
$48,366,28
180,716, 76
236,908. 67
259,719.12
199,940.63
249,883.06
149,136,86
289,613,16
485,819,08
310,981,39
219,259,10
191,889,02
178,857,27
172,280.69
125,256,87
92,129,63
77,357,61
76,290,12
65,020,83
55,666,02
3,665,092,17
The loss on the recoinage of $3,632,031 in worn and uncurrent gold
coins was $28,891.10 and the net loss on the recoinage of $814,361,57
in worn and uncurrent silver coins was $55,663.02.
The Treasury was reimbursed $4,747.42 loss on uncurrent gold coin
transferred and $55,615.73 loss on uncurrent silver coin transferred
for recoinage from the appropriation for that purpose.
250
I t E P O M ON T H E FINANCfig.
COINAGE OF GOLD AND SILVER OF THE U N I T E D STATES SINCE 1873,
Gold.
BY FISCAL Y E A R S .
Silver.
Fiscal years.
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
•
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895....:
1896
1897
1898....
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
•
1909
1910
.
Subsidiary
coined.
F i n e ounces
consumed.
Dollars coined.
$35,249,337,00
50,442,690,00
33,553,965,00
38,178,963,00
44,078.199,00
52,798,980,00
40,986,912,00
56,157,735,00
78,733,804.00
89,413,447.00
35,936,928.00
27,932,824.00
24,861,123.00
34,077,380.00
22,393,279.00
28,364,171.00
25,543,910,00
22,021,748.00
24,172,203.00
35,506,987.00
30,038,140.00
99,474,913.00
43,933,475.00
58,878,490.00
71,646,705.00
64,634,865.00
108,177,180.00
107,937,110.00
99,065,715,00
61,980,572.00
45,721,773.00
208,618,042.00
79,983,692.00
. 53,002,097.50
79,622,337.50
197,238,377.50
108,180,092,50
47,578,875,00
2,179,833
4,558,526
7,650,005
14,228,851
21,239,880
21,623,-702
21,059,046
21,611,294
21,383,920
21,488,148
22,266,171
22,220,702
22,296,827
23,211,226
26,525,276
26,331,176
26,659,493
28,430,092
29,498,927
11,259,863
9,353,787
4,358,299
6,810,196
8,651,384
18,659,623
12,426,024
20,966,979
23,464,817
26,726,641
22,756,781'
19,705,162
13,396,894
6,600,068
2,905,340
9,385,454
11,957,734
8,024,984
3,108,753
$977,150
3,588,900
5,697,500
6,132,050
9,162,900
19,951,510
27,227,500
27,933,750
27,637,955
27,772,075
28,111,119
28,099,930
28,528,552
29,838,905
33,266,831
32,718,673
33,793,860
35,923,816
36,232,802
8,329,467
5,343,715
758
3,956,011
7,500,822
21,203,701
10,002,780
18,254,709
18,294,984
24,298,850
19,402,800
17,972,785
10,101,650
310
$1,968,645,50
2,394,701,39
4,372,868,00
12,994,452,50
19,387,035,00
8,339,315,50
382 50
8,687,50
12,011,75
11,313.75
724,351.15
673 457 80
320,407.65
183,442.95
1,099,652,75
1,417,422,25
721,686,40
892,020,70
2,039,218,35
6,659,811.60
7,217,220,90
6,024,140,30
5,113,469,60
3,939,819,20
3,124,085, 65
6,482,804,00
9,466,877, 65
12,876,849 15
10,966,648,50
10,713,569,45
8,023,751.25
7,719,231,00
9,123,660, 60
4,016,368,10
12,974,534,25
16,530,477,25
11,093,810,00
4,297,567,25
114,888,918 2,300,117,697,00
624,981,878
607,259,120
213,925,709,09
F i n e ounces.
1,705,187
2,440,165
1,623,173
. 1.846,907
2,132,283
2,554,151
1,982,742.
2,716,630
3,808,751
4,325,375
1,738,449
1,351,250
1,202,657
1,648,493
1,083,275
1,372,117
1,235,687
1,065,302
1,169,330
1,717,650
1,453,095
4,812,099
2,125,282
• 2,848,247
3,465,909
3,126,712
5,233,071
5,221,458
4,792,304
2,998,313
2,211,791
10,091,929
3,809,211
2,563,976
4.279,701
9,541,406
5,233,212
2,301,028
.
....
Total
Value,
PHILIPPINE COINAGE.
* The following coinage was executed during the fiscai year 1910 at
the United States mint, San Francisco, for the Philippine government:
Pieces.
Denominations.
Silver: Pesos
50 centavo
20centavo
10 centavo
Bronze:
I centavo
Total
'
.
.
5,276,559
36,000
450,000
312,199
F i n e ounces.
2,714,261,95
8,680.50
43,402.50
15,055,79
1,500,000
7,574,758
2,781.400.74
251
DlMCTOR Oi^ MINT.
The total silver coinage to June 30, 1910, from coins received from
the Philippine Islands for recoinage and from bullion purchased for
such coinage was as follows:
Denomination.
Coined from n e w b u l lion, a c t s of M a r , 2,
1903, a n d J u n e 23,1906.
Pieces.
Pesos
50 c e n t a v o
20 c e n t a v o
10 c e n t a v o
:
Total
93,445
3,342,126
3,666,152
6,077,392
13,179,115
F i n e ounces.
^
Coined from
Philippine
coins received for recoinage, a c t of J u n e 23, 1906.
Pieces.
48,068,11
805,870,13
353,600.36
293,082.21
41,402,559
2,100,000
2,735,000
4,030,000
1,500,620.81
50,267,559
F i n e ounces.
Total.
Pieces.
Fine ounces.
21,297,476.35 41,496,004
5,442,126
506,362.50
6,401,152
263,790.75
19^,346. 75. 10,107,392
21,345,544.46
1,312,232.63
617,391,11
487,'428,96
63,446,674
23,762,597,16
122,261,976.35
1 Included in this amount is 11,237,93 fine ounces of coins reserved for assay.
(The balance of silver now on hand to the credit of the Philippine government is 0,27 of an ounce, fine.)
Under the act of Congress approved June 23, 1906, and the act of
the Philippine Commission dated December 6, 1906, providing for
the recoinage of Philippine silver coins issued under the act of March
2,1903, into coins of a reduced weight and fineness, there were received
at the mint, San Francisco, and melted for recoinage up to June 30,
1910, thefollowing:
Denomination.
Pieces,
24,093,573
5,331,400
5,440,500
6,890,000
425
Pesos
50 centavo
20 centavo
10 centavo
Mixed Philippine coins...
Mixed foreign coins
...
Assay coins and transfers.
Total
Fine ounces.
18,787,537,62
2,076,145.12
844,564, 23
534,328, 47
149,85
8,013,40
11,237. 93
22,261,976,62
Of the coins manufactured for the Philippine government under
the act of March 2, 1903, there were remaining in the Philippine
Islands, June 30, 1910, the following coins:
Denomination.
Pesos
50 c e n t a v o
20 centavo
10 c e n t a v o
.
:
Total.:
'..
Pieces.
Value i n
pesos.
2,930,785
797,118
2,557,268
4,467,557
2,930,785.00
398,559,00
511,453,60
446,755. 70
10,752,728
4,287,553.30
252
BEPORT OTsr T H E FINANCES.
The total coinage, including recoinage, made for the Philippine
government under authority of the acts of March 2, 1903, and June
23, 1906, was as follows:
Made at United Made at United
States mint,
states mint,
Philadelphia. San Francisco,
Denomination.
Silver: .
Pesos
50 centavo
20 centavo
10 centavo
Nickel:
5 centavo ..
Bronze:
1 centavo
J
§ centavo
Pieces.
2,806,859
4,317,644
6,618,840
6,618,839
Total.
'
1 5,424,612
43,270,396
17,753,384
85,961,734
.
Pieces.
68,520,362r
11,570,644
14,398,920
21,464,949
37,845,784
17,753,384
....
Pieces.
65,713,503
7,253,000
7,780, O O
S
14,840,110
101,017,305
186,979,039
10,000,384
.
Total
10,000,384
1 3,924,612, recoinage of ^-centavo pieces.
WORK OF THE GOVERNMENT; REFINERIES.
Bullion was operated upon by the refineries connected with the
coinage mints during the fiscal year 1910, as shown b y t h e following
table:
Bullion upon which charges
for parting were collected.
Mints,
Gold.
Philadelphia
San Francisco
New Orleans
Denver
Silver.
Bullion owned by the Government retained by the
refinery for parting purposes on which no charges
for parting were imposed.
Gold.
SUver.
Total.
Gold.
Silver.
Standard ozs. Standard ozs. Standard ozs. Standardozs. Standard ozs. Standard ozs.
1,148,220.415 2,647,553,49
225,189,179
663,930,57 1,373,409,594 3,311,484.06
1,080,641,467 1,708,541,47 969,366,810
329,750, 49 2,050,008,277 2,038,291.96
30,056,474
31,502,990
73,229.02
17,148,88
1,446,516
56,080,14
1,119,557,772
412,028,81 292,417.817 1,060,335,75 1,411,975,589 1,472,364. 56
Total ounces. 3,378,476,128
4,785,272,^65 1,488,420.322
2,110,096,95 4,866,896.450 6,895,369.60
Total value.. $62,855,369,82 $5,568,317.25 $27,691,540,87 $2,455,385,54 $90,546,910.69 $8,023,702.79
PURCHASE OF SILVER.
The table following shows the amount and cost of silver bullion
purchased for subsidiary silver coinage during the fiscal year 1910:
stock of silver bullion.
. Purchased under section 3526, Revised Statutes, at mint
Partings, charges, and fractions purchased
Melted assay coins purchased
Mutilated coins purchased
Surplus bullion purchased
Total
Standard
ounces.
Cost,
282,485,34
2,302,409,79
2,486,63
2,112,75
6,346,38
$129,556. 57
1,134,625.02
1,438.11
974.85
3,054.55
2,595,840,89
1,269,649,10
D I R E C T O R OF
253
MINT.
BALANCES OF SILVER
BULLION.
The balances of silver bullion on hand June 30, 1910, at the mints
and assay offices of the United States for the coinage of subsidiary
silver coins, and also for the coinage for the Philippine government,
were as follows:
Standard
ounces.
Items.
Cost.
5,725,679,35 $3,642,047,98
,27
,30
For subsidiary silver coinage
Silver bullion for Philippine government
Total
5,725,679,65
COURSE OF
3,642,048,25
SILVER.
During the 12 months ended June 30, 1910, the fluctuations in the
price of silver in the London market were greater than for the fiscal
year ended June 30, 1909. The price ran^ :ed from 23^^ pence to
2 4 ^ pence per ounce for silver 0.925 fine (I ritish standard), equivalent in money of the United States at the former rate to $0.50555
and at the last-named rate to $0.54665 per ounce 1,000 fine; a variation of $0.04110 per ounce. The average London price for the year
was 2 3 - ^ j)ence, equivalent to $0.52481 per ounce fine. The com' mercial ratio of silver to gold at the average price for the year was 1
to 39.39. The bullion value of the standard silver dollar was $0.40590.
The monthly fiuctuations in the price of silver for the 12 months
ended June 30, 1910, are shown in the following table:
H I G H E S T , L O W E S T , AND A V E R A G E P R I C E OF SILVER BULLION AND V A L U E OF A F I N E
OUNCE E A C H MONTH DURING THE FISCAL Y E A R ^1910.
Months.
1909.
July
August
September...
October
November...
December
1910.
January.
February.
March
April
May
June
Highest.
Lowest,
Equivalent
value of a
Average Equivalent Average
Average
price per value of a monthly fine ounce monthly
based on New York
fine ounce
ounce,
price at
average
price of
with ex- New York monthly
British
fine bar .
standard, change at of exchange price and
silver.
0,925 fine. Ipar, $4.8665. on London, [average rate
of exchange
Pence.
Pence.
22,1
231
24
23A
231 ,
23|
23^
23^3^
23i ,
23-C ,
23A
24A
PenA^e.
23,5120
23,5875
23,7476
23,5024
23,3509
24,0384
$0,51541
.51706
.52057
.51520
.51187
.52694
$4,8752
4.8672
4.8626
4.8609
4,8734
4.8772
$0.51633
.51711
.52016
.51501
.51266
.52811
$0,51668
,51745
.52067
,51591
,51317
.52908
24
23AI
23A
24
241
24^
24.1500
23,7838
23,6850
24,4831
24.8004
24.6514
.52939
.52136
.51920
.53669
,54365
,54038
4.8662
4.8636
4,8676
4,8777
4.8718
4.8662
.52936
.52105
.51973
.53797
.54424
.54035
.53080
.52229
.52105
.53894
.54524
,54182
23,9410
,52481
,52517
,52609
24i
24J ,
24^
24H
24H
24f
Average.
254
REPORT ON T H E FINANCES.
EARNINGS AND EXPENDITURES, MINTS AND ASSAY OFFICES.
The earnings and gains and expenditures and loss for the fiscal
year 1910 were as follows:
Earnings and gains:
Charges for parting and refining
Charges for alloy
Charges for assaying and stamping
:
Seigniorage on minor coinage.
Seigniorage on subsidiary coinage
Seigniorage on recoinage of minor coins
Profits on medals and proof coins
Charges received for mounting, etc, medal fund account
Charges for the manufacture oi medals, etc
Deposit melting-room grains and sweepings
Surplus bullion recovered by operative officers
Gain on bullion shipped to mint for coinage
Proceeds of sale of old material
Receipts from special assays of bullion and ore
i
Receipts for raanufacturing appliances for Government and other institutions
Charges received for coinage for Philippine government
Gain on light-weight United States gold coin for recoinage
Bullion recovered from cleaning refinery pipes
,
Charges for treatment of deposit melting-room sweeps
Receipts from sale of by-products
Charges for manufacture of proof gold and silver
Amount received' in excess of assay value of melting and refining sweeps sold
Amount recovered on account of embezzlement
$242,249.91
14,812,62
23,135,89
1,914,747.88
2,468,685,09
2,498,35
3,069,99
249,63
1,979,79
26,006.88
40,797,53
4,584,98
3,112,49
3,434,22
14,142,48
60,836.81
220.26
1,088.45
807,88
41,836.82.
98,00
457,82
818,77
Total earnings and gains
4,869,672.54
Expenditures and loss:
Salaries of oflBcers and clerks
Wages of workmen and other clerks and employees
Contingent expenses, less amount paid to reimburse wastage and loss on sweeps sold
Parting and refining expenses, less amount paid to reimburse wastage and loss on sweeps
sold
Wastage of operative departments
Loss on sweeps sold during the year
'...
Expenses of distributing minor coin
Expenses of medal fund (charges paid, mounting, etc)
."
Loss on recoinage of minor coins
Loss on bullion shipped to mint for coinage
Total expenditures and loss
225,827.67
788,886.19
161,031.44
240,936,08
7,273.57
4,912.75
20,249,43
249.63
14,028,54
76,09
.1,463,471.39
APPROPRIATIONS.
The total appropriations for salaries, wages, and contingent expenses for the entire mint service, including $100,000 for freight on
bullion and coin between mints and assay offices, and $36,770 for
salaries and contingent expenses. Office of the Director of the Mint,
for the fiscal year 1910 amounted to $1,497,370. There is also a
balance in the Treasury to the credit of the appropriation for ^^New
machinery and appliances, mint at Philadelpnia,'' of $2,316.94,'and
to the credit of the appropriation for ^'New machinery and appliances, mint at Denver, of $343.01.
The total expenditures during the year from these appropriations
amounted to $1,268,955.67, leaving a balance of $231,074.28.
255
DIRECTOK OF M I N T .
APPROPRIATIONS AND E X P E N D I T U R E S , FISCAL Y E A R
1910.
APPROPRIATIONS AND REIMBURSEMENTS,!
Institlitions.
Salaries,
Wages of
workmen.
Contingent
expenses.
5,450,00
3,400,00
$400,000,00
14,068,05
165,000,00
40,557,54
150,000,00
79,57
62,800,00
35,000,00
5,250,00
1,000,00
14,500,00
8,300,00
3,200.00
9,750.00
r, 100.00
3,000,00
2,750,00
4,000,00
32,000,00
4,600,00
1,000.00
1,080,00
$85,000,00
2,802.65
45,000.00
20,279.27
45,000.00
. 77.88
30,000.00
12,500.00
2,600.00
1,000.00
4,000,00
3,750,00
1,55
1,200.00
• 8,000.00
5,000,00
750,00
920.00
233,350,00
Philadelphia
Reimbursements..
San Francisco
Reimbursements..
Denver
Reimbursements..
New Orleans
New York
Carson
Deficiency
Helena
Boise
Reimbursement...
Deadwood
Seattle
Salt Lake City
St, Louis
Charlotte
939,235,16
267,881.35
Contingent,
expenses.
Parting and
refining.
$43,550,00
"'41," 166,'66'
39,500,00
27,300,00
41,250,00
6,000,00
Total.,
Total,
$528,550.00
16,870.70
251,100.00
60,836.81
234,500,00
157,45
' 120,100,00
88,750.00
13,850,00
2,000,00
23,950,00
15,450,00 •
1.55
8,400.00
49,750.00
16,700,00
4,750,00
4,750,00
1,440,466,51
EXPENDITURES,
Salaries,
Philadelphia
San Francisco.
Denver
N e w Orleans
New York
Carson
Helena
Boise.
Deadwood
Seattle
Salt L a k e City
St. Louis
Charlotte
'.
-...
Total
Wages of
workmen.
$43,550,00
40,824.46
37,958,06
27,300,00
36,918.75
6,000.00
5,450,00
3,400,00
3,200,00
8,993,06
7,100,00
2,383,34
2,750,00
$385,569,75
194,679,91
90,719,69
21,270,80
31,180,16
5,598,00
13,267,50
• 8,150,00
3,865,00
28,314,16
4,434.00
997.22
840.00
$59,283,52
49,801,69
23,100,10
7,658,88
7,832,97
3,352,35
3,124,24
2,272,20
564.17
5,191.29
3,537.12
361.76
622.04
$70,440,31
79,295,16
30,101,49
2,628,72
63,388,29
$558,843,58
364,601,22
181,879,40
58,858,40
139,320,17
• 14,950.35
21,841.74
13 822 20
7,629.17
42,498,51
15,071,12
3,742.32
4,212.04
225,827,67
Institutions.
788,886,19
. 166,702.39
245,853,97
1,427,270 ^^22
Total.
1 The reimbursements consist of payments made for coinage for other countries or for services rendered to
other branches of the Government service.
EARNINGS AND EXPENDITURES OP THE R E F I N E R I E S OF THE
MINTS AND ASSAY O F F I C E AT N E W YORK, FISCAL Y E A R
COINAGE
1910.
The earnings on account of parting and refining bullion during the
fiscal year ended June 30, 1910, all of which were deposited in the
Treasury, amounted to $323,590.57; the expenditures on the same
account aggregated $245,853.97; and the net earnings over expenditures $77,736.60.
The earnings and expenditures of the several mints and the assay
office at New York were as follows:
Charges
collected.
Institutions.
Philadelphia
S a n Francisco
N e w Orleans
Denver
New York
Total
:
Surplus
bullion.
Receipts
sale b y products.
Total
receipts.
Expenditures.
$83,233.18 $24,658,85
1,300,30
67,654.12
4,278.93
3,760,18.
6,186.15
58,175,16
3,079,61
29,427,27
$41,836,82 $149,728.85
68,954.42
8,039.11
64,361,31
32,506,88
$70,440,31
79,295,16
2,628,72
30,101,49
63 388 29
242, 249.91
• 41,836.82
245,853,97
39,503.84
323,590,57
256
REPORT ON T H E FINANCES.
APPROPRIATIONS AND E X P E N D I T U R E S , OFFICE OF DIRECTOR OF THE MINT, INCLUDING
F R E I G H T ON BULLION AND COIN B E T W E E N M I N T S AND ASSAY OFFICES,
Expenditures.
Unexpended balance.
$30,120
6,650
100,000.00
$27,852.50
3,290.79
46,385,68
$2,267.50
3,359.21
53,614.32
136,770,00
77,528,97
59,241,03
Appropriations.
Salaries.
C o n t i n g e n t expenses
F r e i g h t on bullion a n d coin
Total
,
CONSOLIDATED STATEMENT OF E X P E N D I T U R E S FOR SALARIES, W A G E S , AND SUPPLIES
OF THE M I N T S AND ASSAY OFFICES DURING THE FISCAL Y E A R
1910,
I t e m s of e x p e n d i t u r e .
Acids
Adjusting weights a n d repairing b a l a n c e s —
Advertisements
Balances a n d weights
Barrels a n d lard tierces
B i n d i n g of records
Carpets, furniture, a n d fixtures
Charcoal a n d coke
Chemical a p p a r a t u s
,
Chemicals n o t otherwise specified
Coal
Copper
Crucibles, covers, stirrers, a n d d i p p e r s
Drayage
D r y goods.-•
Electric light a n d supplies
Electric p o w e r
Electrical v a u l t protection a n d burglar a l a r m
Ensigns
E x p r e s s and'freight
F i r e brick
Fluxes
F u r n a c e s a n d repairs
Gas
Gloves, gauntlets, m i t t s , etc
Hardware
Ice .;.
I r o n a n d steel
Labor (temporary)
Laundry
L e a d : Bar, sheet, a n d p i p e
Loss on sale of sweeps
Lumber
Machinery a n d appliances
Metal w o r k a n d castings
Naphtha
Oils:
Coal
Fuel
:
Lubricating
R e n t of-buildings
R e p a i r s ( m a c h i n e r y , etc.)
Sewing
Stationery
.'
S t e a m , s u p p l y of
Sundries
Telegraphing
Telephone
-. -.
Tools
:
:
Traveling expenses
W a t e r : S p r i n k h n g , heating, a n d i r r i g a t i n g . . .
Wood
Zinc
Wastage of operative officers
Cleaning supplies
Total
Salaries
Wages of w o r k m e n
Total
Ordinary
expenses.
Refinery
expenses.
$5,900.94
218.20
145,62
618,90
100, 40
" 129. 85
789.12
689. 73
1, .393. 44
1,225.72
15,216.51
14,043,72
3,943,29
1,549,20
3,522,40
6,490. 63
8,176,91
526,88
82.35
1,858.29
578.12
874,15
1,843.84
10,141.70
4,210. 40
1,821.44
1,660.11
1,680,33
842.01
889. 21
536.05
1,906. 73
1,348.25
26,885.18
3,688.29
8,999. 59
$15,684. 41
36.00
1.80
1,019.70
3,326.05
626.01
28,284.35
183. 53
2,330,96
$21,585.35
254. 20
147, 42
618, 90
531,20
129. 85
. 796.32
1,334.77
2,525. 72
2,'045. 31
17,758. 32
14,045.97
11,119,62
1,594, 46
5,430,38
7,628,83
17,134. 91
526. 88
82.35
1,884,55
876,04
3,566,60
2,440.22
14,007,04
6,372.52
2,110.10
1,872.99
1,7.33.68
975.13
889. 21
1,555.75
5,232.78
1,974.26
55,169.53
3,871,82
11,330,55
6,581.12
i9.76
7,450,88
3,900.00
1,264.53
998. 05
1,155,01
375,28
4,898.72
119,34
2,200.18
758. 46
1,370,43
3,408,54
37,90
150, 70
3,893,50
1,063,13
430.80
7,20
645.04
1,132.28
819. 59
2, .541,81
2.25
7,176, 33
45,26
1,907,98
1,138. 20
8,958,00
26,26
297, 92
2,692. 45
596.38
3,865. 34
2,162.12
288. 66
212. 88
53.35
133,12
2,901,55
114.00
. 47,70
1,632:66
1,500.17
,50
21,52
31.15
638.80
653,96
1,782,59
3,900,00
4,166,08
1,112.05
1,202.71
2,007.94
6,398,89
119, 84
2,200,18
779,98
1,401,58
4,047,34
37,90
804,66
5,676,09
1,091,59
166,702.39
225,827,67
788,886,19
'i49,'665.'i2'
263,551,24
225,827,67
937,891.31
1,181,416,25
245,853. 97
1,427,270,22
96,848.85
257
DIRECTOR OF M I N T .
LABORATORY OF THE BUREAU OF THE MINT.
From the coinage of the calendar year 1909 the assayer of this
bureau tested 359 gold and 466 silver coins, all of which, with one
exception, were found within the legal requirements as to weight and
fineness.
In the gold coins the greatest deviation above standard (the legal
limit being 0.001 above or below) was 0.0003, while the greatest
deviation below was 0.0011.
The greatest deviation of silver coins above standard (the limit
being 0.003 above or below) was 0.0013, while the greatest deviation
below was 0.0018.
The following table summarizes these assays:
Philadelphia,
San Francisco,
New Orleans.
Silver,
Gold. .Silver.
Denver.
Total.
Fineness.
Gold.
898,2
898,4
898,5
898,7
898,9.
899,0
899,1
899,2
899,3
899,4
899.5
899.6
899.7.
899,8
899.9.
900,0
900.1.
900.2
900.3
900.4
900,7
900,9
901.1
901.3
Silver,
Gold,
1
3
6
19
:
23
1
48
•
5
13
15
36
31
15
3
3
41
2i"
12*
Total
122
1
1
4
10
8
12
16
22
26
26.
10
12 '
3
1
2
6
1
4
5
10
9"
7
i7"
4
1
1
3
1
7
7
4
1
1
185
SUver,
Gold.
, 1
:
Average fineness
Gold.
151
66
8
5"
2"
1
2
1
3
2
12
12
15
16
12
6
2
2
3"
7
3"
•
I
I
4
10
10
12
18
39
51
57
63
•58
25
5
5
6
2
25
80
24
I
I
3
6
19
26
58
50
42
33
29
18
11
I
I
I
•
6
SUver.
359
300
899,917 899,423 899.623 900.056 899,966 899,900 899,837 900.070 899.777
899.668
In addition to the above there were examined 146 Philippine silver
coins and 6 Costa Rican silver coins, all of which were within the legal
requirements as to weight and fineness. Also 96 assays of miscellaneous gold were made in settlement of differences between the mints
and the assay offices.
An extensive investigation was made into the question of the
possibility of standard gold made from electrolytic gold segregating
during the coinage operations, and investigations into the manufacture of cupels in the service and the determination of minute amounts
of gold in refinery silver and coins were inaugurated.
PROCEEDINGS OF THE ASSAY COMMISSION, 1 9 1 0 .
The following-named gentlemen were designated as commissioners
to test and examine the weight and fineness' of the coins reserved at
.the several mints during the calendar year 1909, pursuant to the
provisions of section 3547 of the Revised Statutes:
Hon. Julius C. Burrows, United States Senate; Hon. Carroll S.
Page, United States Senate; Hon. William B. McKinley, House of
65872°—FI 1910
17
258
REPORT ON T H E
FINANCES.
Representatives; Hon. William A. Ashbrook, House of Representatives; Dr. Edgar F . Smith, Philadelphia, P a . ; Dr. Edward H . Keiser,
St. Louis, Mo.; Dr.. Charles R. Sanger, Cambridge, Mass.; Hon.
David Cunningham, Cadiz, Ohio; Mr. Archer M. Huntington, New
York, N. Y.; Mr. Edgar T. Leche, New Orleans, La.; Mr. Fred More,
Charleston, 111.; Mr. Luther Drake, Omaha, Nebr.; Hon. D. A.
McPherson, Deadwood, S. Dak.; Mr. James H . Manning, Albany,
N. Y.; Dr. Edward D. Peters, Cambridge, Mass.; Dr. O. L. Shinn,
Philadelphia, P a . ; Hon. Lawrence O. Murray, Washington, D. C ;
Hon. John B . McPherson, Philadelphia, P a . ; Mr. H . G. Torrey,
NewYork, N . Y .
The commission met at the mint a t Philadelphia on February 9,
1910, and Hon. Carroll S. Page was elected chairman.
The following committees were appointed by the chairman with
the approval pf the commission:
Committee on counting.—Mr. Drake, chairman; Messrs. More and
Cunningham.
Committee on weighing.—Mr. Ashbrook, chairman; Messrs. Torrey,
Manning, and McPherson.
Committee on assaying.—Mr. McKinley, chairman; Messrs. Peters,
Keiser, Shinn, and Leche.
The committee on counting reported that the packages containing
the pieces reserved by the several mints for the trial of coins were
delivered to them, and that they were compared with the transcripts
kept by the Director of the Mint and found to be correct. After
verification the coins were delivered to the committees on weighing
and assaying.
The coins reserved by the mints for the purposes of the assay commission were as follows:
Gold coins from the mint at Philadelphia, 1,437, of the value of
$9,545.
Silver coins from the mint at Philadelphia, 10,950, of the value of
$2,265.90.^
Gold coins from the mint at San Francisco, 3,368, of the value of
$59,940.
Silver coins from the mint at San Francisco, 2,056, of the value of
$659.50. ^
Gold coins from the mint at New Orleans, 35, of the value of $175.
Silver coins from the mint at New Orleans, 1,964, of the value of
$435.
.
^
Gold coins from the mint at Denver, 3,600, of the value of $19,410.
Silver coins from the mint at Denver, 3,034, of the value of $686.95.
The coins reserved on account of coinage executed for the Philippine
Islands were as follows;
Mint at San Francisco:
Pesos
50 centavo
20 centavo
10 centavo
,
.''
:
3,789
264
225
157
The committee on assaying reported receiving and making assays
of coins reserved from the mints at Philadelphia, San Francisco,
New Orleans, and Denver, representing the deliveries made by the
coiners to the superintendents during the calendar year 1909,
DIRECTOR OF MINT.
259
The highest assay value of the gold coinage (the limit of tolerance
being one one-thousandth) was at—
Philadelphia
San Francisco
Denver
New Orleans
900,3
900.3
900.1
899,9
'.
The lowest assay value of the gold coinage (the liinit of tolerance
being one one-thousandth) was at—
PhUadelphia
San Francisco
Denver
New Orleans
899,8 .
899,8
^... 899,8
:
899.9
•
The highest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at—
Philadelphia
San Francisco
Denver.I
New Orleans
900,7
900,7
901,3
901.1
:
' ' The lowest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at—
Philadelphia
San Francisco
Denver
New Orleans
:
•.
:
898.4
899.5
900.2
898.9
The highest assay value ^ of the Philippine silver coinage was at—
San Francisco (pesos)
San Francisco (subsidiary)
801,6
749.4
t
The lowest assay value of the Philippine silver coinage was at—
San Francisco (pesos)
San Francisco (subsidiary)
799.4
749.4
The committee also tested the quartation silver and found it free
from gold, and the lead used in the assay of the gold bullion and
found it free from gold and silver. The acid used in the humid assay
of silver was found to be free from silver and also from chlorine.
The balances used were tested and found to be correct.
MINT OF THE UNITED
STATES AT
PHILADELPHIA.
The following table shows by weight and value the gold and silver
deposited during the fiscal year 1910:
Deposits,
Metals,
Gold
Silver.
3,203
694
;
Total
Redeposits,
'
1,894
82
3,897
1,976
Standard
ounces.
1,295,106,556
2,715,651.23
Coinage values.
$24,095,005,64
3,160,030,52
27,255,036,16
1 By the act of June 23, 1906, the standard fineness of the Philippine peso was reduced to 800 and the
subsidiary coins to 750 fine.
260
REPORT ON T H E FINANCES.
Of the above amount of gold bulhon, 1,325.413 ounces standard are
the surplus bulhon recovered by the melter and refiner in his operations during thefisoal year 1910, and 66.876 ounces standard are the
surplus bullion recovered by the coiner during the fiscal year 1910.
' The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
Articles.
Pieces.
Nominal
value.
Goldmedails
Silver medals
Bronze medals...
Gold-proof coinsSUver-proof coins
Minor-proof coins
14.9
491
18,848
665
1,866
8,550
$5,512.57
622.91
3,734.56
5,336.25.
528,70
256,50
Total
30,569
16,291,49
MINOR COINAGE,
The coinage of minor coin during thefiscalyear 1910 a t t h e Philadelphia mint is shown in the following table":
Denominations.
I-cent bronze
5-cent nickel
,
Value.
: . . $1,442,415.29
852,781.90
*
.
No blanks for minor coinage were purchased during the year.
The amount of metal purchased for the manufacture of minor
coinage was 988,121 avoirdupois pounds, at a cost of $145,299.46.
The amount of uncurrent copper, nickel, and bronze coins transferred from the Treasury during the year for conversion into current
coins, cost, and seigniorage are shown by the following table:
Old copper cents
Nickel 1-cent coins
Bronze 1-cent coins
Bronze 2-cent coins
Nickel 3-cent coins
Nickel 5-cent coins
:
•
V
$110.86
533.16
33,998.57
166.40
433.41
189,810.60
Total
:
225,053.00
Balance from last year
29,885.00
Cost of nickel added to 1-cent metal to convert Into 5-cent alloy for recoinage into nickel 5-cent
coin
14.36
Cost of tin and zinc added to old copper-cent metal to convert into bronze 1-cent alloy for recoinage into bronze 1-cent coin
1.93
Cost of metal of same alloy added to nickel 3-cent metal for recoinage into nickel 5-cent coin...
5.21
Seigniorage (gain by recoinage)
2,498.35
Total
'.
Coinage executed, nominal value:
Bronze 1-cent coin
Nickel 5-cent coin.
Loss by recoinage
Total
..'.
257,457.85
.
•. $33,236,81
210,192.50
•
,
243,429.31
14,028,54
257,457,85
261
DIRECTOR OF M I N T .
The seigniorage or gain on recoinage of minor coin was $2,498.35,
as against a loss of $14,028.54, showing a net loss of $11,530.19.
The seigniorage on the coinage of nickel and bronze coins coined
from purchased metal was $1,875,505.38, which, less a net loss of
$11,530.19 on the recoinage of mmor coin and a wastage of the operative officers in the minor coinage operations of $1,597„48, gives a net
seigniorage on minor coin of $1,862,377.71.
The total amount of the several types of minor coin manufactured
at this mint from 1793, when the first coinage of copper cents was
made, until June 30, 1910, aggregated $56,114,471.71. There have
been melted for recoinage $5,228,912.44, leaving oustanding June
30, 1910, $50,885,559.27, the product of this mmt.
The several types and denominations of minor coin issued, manufactured by the mint at Philadelphia since its establishment, the
amount remelted, and the amount outstanding June 30, 1910, are set
forth in the following table:
M I N O R ' C O I N S I S S U E D , REMELTED, AND OUTSTANDING.
Denominations,
Coined,
Remelted,
Outstanding
June 30; 1910.
$1,562,887,44
39,926.11
2,007,720,00
18 537,095,29
912,020,00
905,768.52
32,149,054.35
803,368.71
382,456,73
339,834.22
283,102.27
3,039,497.20
$1,182,234.13
39,926,II
1,204,351,29
18,154,638,56
572,185,78
622,666,25
29,109,557,15
56,114 471.71
Copper cents
Copper half cents...
Copper-nickel cents.
Bronze cents...
Bronze 2-cent pieces
Nickel 3-cent pieces.
Nickel 5-cent pieces.
5,228,912.44
50,885,550,27
Total
$380,653.31
. Minor coins to the amount of $2,758,799.03 have been distributed
throughout the States and Territories of the United States during
the fiscal year 1910—$1,215,830.45 in nickel 5-cent pieces and
$1,542,968.58 in bronze 1-cent pieces.
The expenditure for the distribution of minor coin for the same
period was $20,189.92.
ALL
SEIGNIORAGE.
The seigniorage on the coinage of purchased metal for the fiscal
year was $3,575,885.92, as shown by the following table:
Items.
Subsidiary silver coins..
Minor coins
-
Coined.
Seigniorage.
$2,911,667.25
2,051,767,88
Total
$1,700,380,54
1,875,505.38
4,963,435,13
-
3,575,885,92
VISITORS,
A large number of visitors from all States of the Union and from
foreign countries visited the mint during the year, 86,177 having
been shown through the building by the several guides.
262
REPORT ON T H E FINANCES.
NUMBER OF EMPLOYEES,
The total numberof employees in this mint at the closeof the
fiscal year was 360, distributed in the several departments as follpws:
Department:
General
Assayer's
Melter's and refiner's
Coiner's
Engraver's
^
183
13
61
94
9
".
,
Total
360
MELTER AND R E F I N E R ' S
DEPARTMENT.
During the fiscal year the melter and refiner received from the
superintendent gold bullion containing by assay 1,839,490.674 standard ounces, of the value of $34,223,082.31, his legal allowance for
wastage being 1,839.491 standard ounces, of the value of $34,223.09.
He also received silver bullion containing by assay 6,825,648.72
standard ounces, of the value of $7,942,573.06, his legal aUowance for
wastage being 10,238.47 standard ounces, of the value of $11,913.85.
He returned to the superintendent 1,840,816.087 standard ounces of
gold and 6,822,418.53 standard ounces of silver.
He operated upon bullion as follows:
Items,
Ingots
Refinery
Total
..
.
. Gold,
SUver.
Standard ozs.
156,328,090
1,373,409,594
-
. . .
Standard ozs.
3,840,018.82
3,311,484.06
1,529,737,684
.
7,151,502.88
The excess of silver operated upon over the amount charged during
the year is due to duplicate operations.
Upon the settlement of the melter and refiner^s accounts June 30,
1910, there was found an apparent gain upon the gold bullion during
the fiscal year of 1,325.413 standard ounces, and in the operations
upon the silver bullion an apparent loss of 3,230.19 standard ounces.
The melts made aggregate as follows:
Bars.
Melts.
Ingots.
Anodes.
Deposits. Special.
Total.
238
1,023
Total...
26
966
995
3,240
579
254
4,753
2,568
1,261
Gold
Silver
. 992
995
3,819
254
7,321
During the fiscal year one silver melt was condemned.
NUMBER, WEIGHT, AND VALUE OF GOLD AND SILVER BARS FOR INDUSTRIAL USE.
Gold
Silver
Total.
Bars.
Standard
ounces.
5,115
8,501
Metal.
466,761.327
1,819,513,87
$8,683,931, 70
2,117,252. 50
13,616
2,286,275.197
10,801,184,20
Coinage value.
263
DIRECTOR OF M I N T .
During the year 145 barrels of sweeps were gathered, containing
by assay 865.449 standard ounces of gold and 4,110.74 standard
ounces of silver. There were 15 barrels of old sweeps reworked, containing by assay 147.228 standard ounces of gold and 641.39 standard
ounces of silver.
The operations of the refinery were as follows:
Bullion,
Gold,
Silver,
-
Standard ozs.
1,372,113,076
1,372,458,612
950, 982
Standard ozs.
3,311,484.06
3,305,016.26
4,481, 24
11,296,518
Sent to refinery 4,742,461.56 gross ounces, c o n t a i n i n g b y assay
Bullion received from r e f i n e r y . . .
'
Sweeps
2 1,986, 56
2 A p p a r e n t loss.
1 A p p a r e n t gain.
Silver bullion sent to the refinery upon which refining charges were
collected contained by assay 2,647,553.49 standard ounces, and silver
owned by the Government and returned to.the refinery for parting
purposes upon which no parting charges were collected contained by
assay 663,930.57 standard ounces.
Troy ounces.
During the year the melter and refiner received from the superintendent minor coinage
metal
31,543,551.07
Delivered prior to settlement:
Bronze ingots
Nickel ingots
Delivered in settlement:
Ingot copper
.'
Nickel shot
Bronze ingots
Zinc
Tin
Nickel clippings
Nickel residue
Bronze residue
Old copper coin
Bronze sample ingots
Wastage
.
Troy ounces.
23,635,109, 40
5,191,652. 40
1,734,900.17
647,455. 83
70,036.80
96,207.00
70,778. 00
256.00
974.00
3,527,00
4,685, 00
1,970,00
85,999.47
28,826,76L80
2,716,789.27
31,543,55L07
264
REPORT ON T H E FINANCES.
C O I N E R ' S DEPARTMENT.
The coiner received gold, silver, nickel, and bronze from the superintendent during the year, as follows:
GOLD.
SILVER.
Metal.
Amount.
Received from superintendent July 1,1909,
to June 30, 1910...
. ...
Returned prior to settlement June 30,1910..
Returned in settlement June 30,1910
Total.
Stand, oz.
Stand, oz.
307,521.140
31,096,564
276,491,452
307,588.016
Wastage..
Aniount.
Stand, oz.
3,951,609.53
222,219.11
Total.
Stand, oz.
4,174,142. 49
4,173,828.64
1 66.876
NICKEL.
313 85
COPPER-BRONZE.
Metal.
Amount.
Received from superintendent July 1,1909,
Stand, oz.
to June 30,1910
Returned prior to settlement June 30,1910. 5,231,555.38
Returned in settlement June 30,1910 .
314,893,45
Total.
Stand, oz.
5,552,420.20
5,546,448,83
Wastage
5,971,37
Amount.
Stand, oz.
26,614,500.20
380, 012.80
Total.
Stand, oz.
27,049,502. 90
26,994,513.00
54,989.90
1 Gold surplus.
During the fiscal year 1910 this department received from the superintendent 307,521.140 standard ouncesof gold, of which 31,048.300
standard ounces were operated upon, from which there were produced 23,713.157 standard ounces of.coin of the value of $441,175,
and delivered to the superintendent during the fiscal year prior to
settlement.
There were also delivered to the superintendent prior to settlement
7,383.407 standard ounces of gold clippings and bars, and there were
delivered at settlement 276,491.452 standard ounces of gold ingots,
partly finished coin, sweeps, and bars. The entire operation showed
a gain or surplus of 66.876 standard ounces, of the value of $1,244.20.
The very small actual operation on gold involved practically no
wastage, and a thorough cleaning up and the recovery of former
wastage contributed this surplus.
The percentage of coin produced to the amount of metal operated
upon was 76.37. This high percentage was due to the fact that
the operation was almost entirely upon ^'unfinished coin and good
blanks,^^ received in the redelivery from the superientendent after
the settlement of June 30, 1909.
During the same period the coiner also received from the superintendent 4,174,142.49 standard ounces of silver, of which 3,936,902.10
standard ounces were operated upon, from which there were produced 2,340,252.55 standard ounces of coin of the value of
$2,911,667.25 in subsidiary silver coin and delivered to the superintendent during the fiscal year prior to settlement.
There were also delivered to the superintendent during the fiscal
year prior to settlement 1,611,356.98 standard ounces of silver
clippings and bars, and there were delivered at settlement 147,646.62
265
DIRECTOR OF M I N T .
standard ounces of silver coin, and 74,572.49 standard ounces of
ingots, unfinished cpin, and sweeps. Upon the entire operation
there was a wastage of 313.85 ounces of the value of $161.60, being
7.52 per cent of the legal allowance.
The percentage of coin produced to the amount of metal operated
upon was 63.19 per cent.
There were also delivered to the coiner during the same period
5,552,420.20 ounces of nickel ingots, from which were produced
2,742,310.08 ounces of 5-cent pieces of the face value of $852,781.90,
upon which there was a.wastage of 5,971.37 ounces.
The percentage of coin produced to the amount operated upon was
49.39 per cent.
There were also delivered to the coiner during the same period
27,049,502.90 ounces of copper-bronze ingots, from which there
were produced 14,425,498.70 ounces of 1-cent coin of the face value
of $1,442,415.29, upon which there was a wastage of 54,989.90
ounces. The percentage of coin produced was 53.33.
The coinage executed during the.year was:
Denominations,
Pieces.
Gold:
Double eagles
Eagles. -.
Halfeagles
Quarter eagles
Value, .
143
172
26,182
122,274
148,771
Totalgold
SUver:
Half dollars
Quarter dollars
Dimes
$2,860,00
1,720,00
130,910,00
305,685,00
441,175,00
1,808,785
5,232,785
6,990,785
904,392.50
1,308,196,25.
699,078,50
Total sil ver
14,032,355
2,911,667,25
Minor:
5-cent nickel pieces.
1-cent bronze pieces
17,055,638
144,241,529
852,781,90
1,442,415,29
Total minor
161,297,167
2,295,197,19
Grand total
175,478,293
5,648,039,44
ENGRAVER'S
DEPARTMENT.
All the dies used in the coinage operations of all the mints of the
United States are made in the engraving department at Philadelphia.
The number of dies prepared for United States coinage last year
was 2,626. In addition 65 dies were made for Philippine coinage,
24 for the Post Office Department, 20 for medals, and 84 master
dies, hubs, and pattern dies.
266
REPORT ON T H E FINANCES.
D I E S F U R N I S H E D THE SEVERAL MINTS DURING THE FISCAL Y E A R E N D E D J U N E 30,
1910,
PhUadelphia,
New
Orleans,
34
24
20
54
56
13
60
58
143
30
10
10
10
86
152
128
50
10
366
386
1,621
110
386
1,731
2,007
110
2,117
35
30
35
30
12
13
Silver:
Half doUars
Quarter dollars
Dime
.'
Minor:
5-cent
I-cent
Philippine:
Peso
I centavo
20
20
20
306
Gold:
Double eagles
Eagles
Half eagles
Quarter eagles
Denver.
56
132
118
Denominations,'
San
Francisco,
25
'
. .
.'
.
..
65
65
2,338
Total
285
Total.
68
2,691
A S S A Y E R ' S DEPARTMENT.
The number of assays made in this department were:
Deposits and purchases
Ingots (gold and silver)
Refinery
Special assays
Sweeps assays
35,812
2,337
10,034
3,046
217
Total
51,446
In addition to this, 560 ounces of proof gold and 820 ounces of probf
silver were made.
Of the 26 melts of gold ingots made by the melter and refiner, all
were passed. No melts were condemned. There were 966 melts
of silver ingots made, of which 961 were passed, 4 returned for remelting, and 1 condemned.
The fijieness of gold melts passed was:
2 melts at
1 melt at
12 melts at
"
.
8 melts at
3 melts at
26
900,2
900,1
900.0
899.9
899.8
The fineness of silver melts passed was:
29 melts at
87 melts at
237 melts at
170 melts at.
293 melts at
85 melts at
:
42 melts at
:
12 melts at
6 melts at
898
898^
898^
898^
899
899^
,. 899^
899|
900
961
Seventy-six thousands cupels were made and 80,000 leads cut,
rolled, and weighed.
DIRECTOR OF MINT.
267
MINT OF THE UNITED STATES AT SAN FRANCISCO.
The following table shows-by weight and value the gold and silver
deposited during the fiscal year 1910:
Deposits.
Metals,
Gold
SUver
.
...
Standard
ounces.
Coining value.
7,117
991
..
$42,412,034.02
2,154,413.07
502 . 2,279,646,826
1,851,448,74
8,108
;:
Total
Redeposits.
502
• 44,566,447.09
Of the above amount of gold bullion 2.660 standard ounces were
surplus bullion recovered by the coiner and 2,547.05 standard ounces
recovered by the melter and refiner, during the fiscal year 1910.
Of the above amount of silver bullion 1,543,938.45 standard ounces
of Philippine coin were received for recoinage for the government
of the Philippine Islands.
During the year minor coinage metal was received for the coinage
of United States bronze coin and the recoinage of minor coin into
bronze coin for the Philippine Islands as follows:
Total.
Recoinage. Purchased.
Countries.
Cost value.
Troy ozs.
311,724,50
Troy oz.
15,225,00
336,539,57
Troy oz.
326,949.50
336,539.57
$9,496.24
3,350,96
311,724.50
Philippine Islands
Unitea States
351,764.57
663,489.07
12,847.20
...
Total
A S S A Y E R ' S DEPARTMENT.
The appended tables show the operations of the department for
the fiscal year 1910:
Gold assays.
Silver assays
Sweep assays
1
:
49,075
12,852
372
'
Total
Parting silver manufactured
Cupels made
Leads cut, rolled and weighed,
ounces..
62,299
3,000
IOO, 000
IOO, 000
Ingot melts were passed as follows:
Melts.
Fineness.
Fineness.
GOLD INGOTS.
899.6
899.7
899.8
899.9
900.0
900.1
Condemned.,
Total..
Melts.
SILVER INGOTS.
. .
10
96
259
301
77
19
0
762
898.5
898 6
898.7
898 8
899.1 . . .
899 3
899.5
899.8
900.0
900.2
900,4
Condemned
Total made
.
..
• ..
106
197
I
112
172
82
59
16
6
6
2
1
760
268
REPORT ON T H E FINANCES.
Of the above ingots, 237 were double eagles, 305 were eagles, 220
were half eagles, 670 were half dollars, and 90 were quarter dollars.
PHILIPPINE COINAGE.
Fineness.
Melts,
Fineness,
PESOS.
797 6
797 7 '
797 8
797 9
798 0
798 1
798 2
798 3
798 4
798 5
798 6
798 7
798.8
798 9
799 0
799 2
799 3
799 4
799 6
799 8
Condemned
Melts.
SUBSIDIARY ( 2 0 CENTAVO).
..
. . .
30
46
25*
35
297
32
340
14
906
15
390
747.8
748.0
748.2
748.3.748.5
748.7
748.9
749.0
749.2
Condemned
3
2
12
18
19
2
4
1
1
0
•
Total
396
3
173
89,
1
19
12
62
• 2
.'
2,836
Total m a d e
MELTER AND R E F I N E R ' S DEPARTMENT.
The melter and refiner received, operated upon, and delivered gold,
silver, and minor coinage bullion during the fiscal year 1910 as
follows:
GOLD BXJLLION.
Received:
Settlement bullion of June 30,1909
Deposits
Redeposits
Clippings
Subtreasury transfer, sweeps bars, etc
Standard ounces.
1,430,253.050
: . . . 1,867,832.811
411,676,474
986,185.831
134.881
4,696,083.047
Delivered:
Ingots
• Fine bars
Sweeps
Settlement June 30, 1910
• •
.2,189,614,600
488,682.839
786.858
2,016,914,045
.—
^4,695,998.342
'.
Wastage
84.705.
.
SILVER BULLION.
Received:
Settlement bullion of June.30, 1909
Deposits
Redeposits
Clippings
Philippine recoinage
United States subtreasury transfer
Sweeps bars..
Delivered:
Ingots
Fine bars
Sweeps
Transfer to Mint Bureau
Settlement June 30, 1910
Surplus
:
:
2,039,705.94
196,183,15
78,654.47
2,872, .321.97
1,544,015.95
30,089.59
36.03
6,761,007.10
-
...:
'
'
6,215,401.14
26,979.22
' 3,431.87
1.93
517,739.99
6,763,554.15
2,547.05
269
DIEECTOR OF M I N T .
MINOR COINAGE BULLION,
Received:
Settlement bullion of June 30, 1909
Copper
Tin and zinc
Philippine recoinage
Clippings
1
:
-
Delivered:
Ingots
Settlement June 30, 1910
Standard ounces.
461,796,03
292,366,66
- 59,397,91
311,724.50
410,641.33
1,535,926.43
1,302,438.50
231,163.09
1,533,601.59
Wastage
2,324.84
INGOT MELTS MADE.
ConNumber. demned.
Metals. .
Gold
SUver
Bronze
....
0
3
763
3,646
905
'.
REFINERY.
GOLD BULLION.
Sent to refinery:
Bullion (no charges)
Crude bullion (with charges)
Standard ounces.
969,366,810
1,080,641.467
——
2,050,008.277
Returned from refinery:
Fine gold bars
Settlement metal
:
/.
•
2,002,825,752
47,079.973
-2,049,905,725
Wastage
102,552
SILVER BULLION,
Sent to refinery:
Bullion (no charges)
Crude bullion (with charges)
•
'
329,750,49
1,708,541.47
—
Returned from refinery:
Fine silver bars
Settlement metal
2,038,291,96
1,993,221,34
44,135.36
Wastage
2,037,356.70
935,26,
The refinery also produced 8,889 pounds of electrolytic copper.
S W E E P CELLAR.
^
Items.
1,328 sacks, 51 barrels
B ars:
Account Carson Mint:
177 sacks...:
Bars
Total
:
Gold.
Silver.
Std, oz.
1,176.519
2,280.262
-
-
--
Std, oz.
4,194.43
3,88L72
25.501
153,524
89.37
121.51
3,635,806
8,287,03
270
REPORT ON T H E FINANCES.
C O I N E R ' S DEPARTMENT.
The coiner received gold, silver, and bronze from the superintendent during the fiscal year 1910 as follows:
.
,
GOLD.
Standard ounces.
2,469,078.498
2,266,860.206
202,220.952
—
—2,469,081.158
Received from superintendent
Returned prior to settlement June 30,1910
Returned in settlement June 30,1910
Excess in gold
2.660
SILVER.
Received from superintendent
Returned prior to settlement June 30,1910
Returned in settlement June 30,1910
7,403,812.30
7,043,810.99
357,110.87
-7,400,921.86
Wastage in silver
2,890,44
COPPER-BRONZE.
Troy ounces.
1,306,360,98
Received from superintendent
Returned prior to settlement June 30,1910
Returned in settlement June 30,1910
1,092,248,32
208,938,74
1,301,187,06
Copper-bronze wastage
5,173.92
During the same period the coiner operated on gold, silver, and
bronze and made delivery to the superintendent as follows:
GOLD.
Amount operated on
Coin delivered to superintendent
,
Percentage of gold coin to amount operated on
:
*
Standard ounces.
2,266,857,546
1,280,674,375
56,49
SILVER,
Amount operated on
.'
Coin delivered to superintendent
Percentage of silver coin to amount operated on
7,046,701.43
4,171,489,02
59.18
COPPER B R O N Z E ,
Troy ounces.
1,197,422.24
681,606,99
66.76
Amount operated on
'.
Coin delivered to superintendent
Percentage of copper-bronze coin to amount operated on
The following table shows the coinage executed during the fiscal
year:
Denomination,
Pieces,
Value.
DOMESTIC COINAGE,
Gold
SUver
Minor, I cent
:
'. .
Total domestic coinage
gjj^gj..
Pesos
50 centavo
20 centavo .1
10 centavo
...
....
..
.
....
.
2,492,425 . $23,826,500,00
3,074,000
1,345,000,00
4,368,000
43,680.00
9,934,425
25,215,180.00
5,276,559
36,000
450,000
312,199
5,276,559,00
18,000,00
90,000,00
31,219,90
6,074,758
1,500,000
5,415,778,90
15,000,00
7,574,758
5,430,778.90
PHILIPPINE COINAGE.
•
Total silver coinage
Minor 1 centavo
Total Philippine Islands coinage
•
.
.
..
271
DIRECTOR OF M I N T .
During the fiscal year 1910 a power plant was installed for the
purpose of generating, the electric current needed for operating motordriven macliinery and electric lighting.
The power plant consists of three turbo-generating units, switchboard, air compressor, cooling tower, jet condenser with accessories,
superheaters, feed water heater, electric - driven fire pump, house
pump, and boiler feed pump; new conduit system for electric wiring,
hot and cold water tanks; water and air piping, covering, etc
The generating sets consist of one 150 kilowatts generator direct
connected to a four stage steam turbine, and two 100 kilowatts
generators direct connected to two stage steam turbines, each having a capacity of 25 per cent above their rating.
The switchboard is complete in every detail, having indicating
and recording instruments connected with each department throughout the building.
The air compressor is used in connection with the water supply
for the building and has a capacity of 68 cubic feet of free air per
minute.
The condenser is of the jet type, having a capacity to condense
4,200 pounds of steam per hour continuously.
The superheaters installed in each battery of boilers have a capacity to superheat 4,200 pounds of steam at 150 pounds gauge 100
degrees F .
The feed water heater is of the open type, designed to purify all
the water supplied to the boilers and to heat the sarae to the proper
temperature.
The fire pump is of the two-stage type, direct connected to an
electric motor, and has a capacity t o deliver 300 gallons of water
per minute against a head of 175 feet.
The house pump is of the triplex type, being driven by an electric
motor. This pump has a capacity to deliver 75 gallons of water
against a head of 150 feet.
The boiler feed pump is of the triplex type, having 24 speeds,
and is designed to deliver 12.5 gallons of water per minute.
VISITORS.
During the year 52,635 visitors were shown through the mint.
MINT OF THE UNITED STATES AT DENVER, COLO.
The standard weight and value of bullion received during the fiscal
year was as follows:
Metals.
Gold
Silver
;
Total
Deposits
and purchases.
Redeposits
United
States
assay
offices.
Standard
ounces.
Coinage value.
3,546
595
551
1,195,622.426
434,764,54
S22,244,138,15
505,907.82
4,141
551
1,630,386,966
22,750,045.97
272
REPORT ON T H E FINANCES.
Shipments from refineries, cyanide and chlorination mills aggregating 483,561.481 standard ounces gold, of a coinage value of
$8,996,492.65, and 22,403.94 standard ounces silver, of a coinage
value of $26,070.06.
Domestic bullion, unrefined, totaled 302,795.065 standard ounces
gold, of a coinage value of $5,633,396.56, and 327,607.80 standard
ounces silver, of a coinage value of $381,216.35.
Redeposits of United States assay offices carried 404,947.336 standard ounces gold, of a coinage value of $7,533,903.93, and 80,061.90
standard ounces silver, of a coinage value of $93,162.92.
During the year there were purchased gold and silver coins of a face
value, respectively, of $477.50 and $34.50, and of a coinage value of
$442.79 in gold, and $34.58 in subsidiary silver.
There was but one change in the staff of operative officers during
the year, Mr,. Jabin B. Baldwin succeeding Mr. Harry Tarbell as
coiner March 1, 1910.
Visitors to the number of 55,740 were looked after during the six
months of coining operations.
The number of officers and employees in the mint at the close of
the fiscal year was as follows:
Department:
General
Assayer's
Melter's ahd refi.ner's
Coiner's
57
8
23
31
Total...:
119
A S S A Y E R ' S DEPARTMENT.
The operations of this department during the fiscal year 1910 were
as follows:
Samples operated on.
Items.
Gold.
Deposits
Redeposits
Exchange bars
Return bars
Anode melts
'
Mint fine melts
Ingot melts
Consolidated melts
Experimental samples
Bullion assay samples
Copper .melts
Superintendent's grain bars
Melter's and refiner's grain bars
Coiner's grain bars
Assayer's grain bars
Sweep samples
Special assay samples
Forest Service samples
Total
Silver,
3,558
514
40
4
47
171
293
3
139
9
2
4
8
4
21
32
192
208
595
37
15.
Total.
1
32
135
203
4,153
551
55
4
511
272
293
3
245
9
2
4
22
4
22
64
327
411
1,703
6,952
464
101
106
In addition, there were assayed for the Forest Service 32 samples for
copper, 5 samples for lead, 7 samples for zinc, and 1 sample for
platinum.
DIRECTOR OF M I N T .
273
N U M B E R OF ACTUAL ASSAYS M A D E .
Gold...
Silver
:
Sweeps
Forest Service.
Cupels made
Lead, cut and rolled
:
-
26,331
14,611
383
743
32,000
32,000
:
F I N E GOLD DETERMINATIONS.
The reported finenesses of the refined gold melts were as follows:
998,0......^.-999,0
999,1
999.2...
. . .
999.3
999.4
Fineness.
Melts..
Fineness,
....
. . .
.
...
1
1
1
2
3
14
999,5...
999,6..
999,7
999,8
Melts..
17
39
80
13
..
Total
171
:
F I N E SILVER DETERMINATIONS.
Melts.
...
2
. . . 56
. . . 17
. . . 26
Fineness.
999,0.
999i..
999^..
Total
.:..
^
101
INGOT FINENESS.
The reported finenesses of the gold ingot melts were as follows:
Fineness.
'
Melts.
900,0.
900.1.
900.2.
118
158
7
I
Remelted...
292
1
Total..
MELTER AND R E F I N E R ' S DEPARTMENT.
The melter and refiner received from the superintendent during
the fiscal year 1910:
Silver account.
Gold account.
Metal.
Total.
Amount.
In bullion
Returned prior to settlement.
Returned at settlement
Stand, oz.
1,881,945. 335
Stand, oz.
1,677,585.969
' 204,665.805
Surplus -
1,882,251.774
.306.439
Amount.
Stand, oz.
16,524,70
603,197.27
Total.
Stand, oz.
618,691.82
619,721.97
1,024.15
.
The surplus was recovered from unreported fractions of assays
and from iractional gains in weights of deposits.
The ingot melting room was in operation six months only.
The sweeps cellar was operated for six months and treated 83,206
pounds of sweeps, and extracted therefrom 1,047.455 standard
65872°—FI 1910- -18
274
REPORT ON T H E FINANCES.
ounces of gold and 1,799.37 standard ounces of silver, and the resulting mill tails contained 296.654 standard ounces of gold and 1,871.51
standard ounces of silver.
,
Refinery operations covering a period of eight months were as
follows:
Silver a c c o u n t .
Gold a c c o u n t .
Metal.
Amount,
Stand, oz.
Delivered
Returned
Returned
Returned
to the refinery..
prior t o s e t t l e m e n t
a t settlement in bars
a t s e t t i e m e n t i n sweeps
Total.
Amount.
Total.
' Stand.oz.
1,411,433.731.
1,378,938.811
32,965.222
7L 556
Stand, oz.
1,471,908,34
Stand, oz.
1,417,073,87
54,854.25
436.44
1,411,975.589
. 1,472,364,56
456.22
541.858
Surplus
The refinery earnings were as follows:
Charges collected on bullion treated in refinery..:
Surplus bullion recovered
By-products
'
$60,565.82
6,173,55
999,42
:
Total
-
67,738.79
The following melts were made:
Character of m e l t s .
Deposits
Anodes
Cathodes
Ingots . .
Mint bars
Slimes....
Settlement.'
Sweats
Miscellaneous
. Gold.
.
. .
.
.
:
1,302
-
Total
Ingot melts condemned: None.
------
Gold a n d
silver.
613
464
. 50
3
101
57
14
. 4,525
'.
^
•
.3,738
47
60
293
.171
42
8
166
'.
Silver.
Total,
314
264
4,3i51
511
110
296
272
99
22
314
430
578
6 405
Remelts: Gold, 1; silver, none.
COINER'S
DEPARTMENT.
There was no coinage executed at this mint during the first six
months of the fiscal ;^ear 1910.
i
From January 1, 'l910, the coiner received and operated upon
1,758,337.70 standard ounces of gold. H e delivered to the superintendent 1,252,977 standard ounces of gold coin, valued at
$23,311,200. The number of pieces coined aggregated 2,427,950.
The. percentage of coin produced from the amount operated upon
was 71.26. The loss in the coinage operations was 42.99 standard
ounces,, being 4.89 per cent of the legal tolerance.
The only work in silver during t h e fiscal year was in delivering to
the superintendent t h e coins that were left over from the previous
fiscal year, amounting t o 32,873.37 standard ounces, valued at
$40,900, and aggregating 166,000 pieces.
In the process of cleaning up and reclaiming from sweeps, etc.,
there were recoyered 27.32 standard ounces of silver. There being
275
DIRECTOR OF M I N T .
no operations of any kind in silver, other than as stated above, this
amount stands as a surplus during the fiscal year, but in reality it is a
recovery from the previous yearns operations.
The coinage was as follows:
Items.
Pieces.
Totalgold
Total sUver
Total coinage
Value.
2,427,950
166,000
$23,311,200
40,900
2,593,950
23,352,100
ASSAY OFFICE OF THE UNITED STATES AT NEW YORK.
The report of the business of this office for the fiscal year 1910, is as
follows:
ReDeposits. deposits.
BuUion received.
Gold
SUver
:
Total..
'.
10,517
1,786
1
33
12,303
Standard
oimces.
3,103,623,674
2,557,913.85
34
Coinage value.
$57,741,835.87
2,976,48L57
60,718,317,44
The gross weight of this bullion was 5,384,915.29 ounces, a decrease
from last year of 2,213,069.70 ounces.
'. The value of the foreign gold bullion and coin deposited was
$12,936,181.26, an increase over last year of $1,385,131.33.
The value of' the domestic gold bullion and coin deposited was
$44,805,754.61, a decrease from last year of $3,378,537.12.
The source of domestic gold bullion and coin received were as
follows:
From
From
From
From
From
new production in United States and Territories
private refineries
.'
jewelers' bars, plate, etc.
redeposited buUion
United States gold coin of light, weight
Total
$5,013,870, 54
.34,987,869, 23
3,934,982.79
10,310. 23
858,721.82
:
,....'
44,805,754. 61
This statement shows a decrease compared with last year in the
amount of gojd bullion received from private refineries of
$2,427,935.08, and an increase from gold com of light weight of
$322,739.67.
,
There was received from the United States mint at Philadelphia,
during the year, fine gold amounting to 55}419.062 standard ounces,
and fine silver amounting to 1,654,883.95 standard ounces.
Redeposited gold bullion consisted of 545.102 standard ounces gold
contained in fine gold bars made at this office and 9.073 standard
ounces contained in unparted bars made at the United States assay
office, Charlotte, N . C .
_
As parting operations have not been resumed, the unparted bullion
receivecl during the year has been transferred to the United States
Mint at Philadelphia, for treatment. Those shipments amounted to
2,418,038.48 ounces gross, containing 886,204.640 standard ounces of
gold and 1,481,161.21 standard ounces of silver.
276
REPORT ON THE FINANCES.
The amount of bullion delivered to the melter and refiner a n d b y
him returned to the superintendent during the,fiscal year 1910, was
as follows:
Delivered to
melter and
refiner.
Bullion.
Gold
Silver
:
Stand, oz.
3,205,474.192
2,651,519.47
:.
Returned by
melter and
refiner.
Stand, oz.
2,949,692.248
2.529,612.19
The grains and fluxes from the deposit melting room yielded
$5,802.97, and the sweeps (52 barrels) $5,110.27.
There was stamped during the year 56,099 gold bars and 14,016
silver bars. I n the previous years there were stamped 47,434^old
bars and 13,379 silver bars. Gold bars issued to depositors of bullion
for domestic use, $3,589,277.87. Gold bars exchanged for gold coin
for domestic use, $23,332,333.28. Total gold bars issued for use in
the arts, etc., $26,921,611.15, showing an increase of $4,391,810.85
compared with last year.
The value of gold bars exchanged for gold coin for export was
$355,381.93,beingadecreasecomparedwithlastyearof $17,035,514.33.
The income from the exchange of gold bars for gold coin was
$11,940.49, and from special assays $1,898.
The force employed in this office at the close of the year including
the superintendent, assayer, and melter and refiner, numbered 75,
distributed as follows:
General department
Assayer's department
Melter and refiner's department
^
,
........'
23
15
37
No settlement was made at the close of the fiscal year, it being postponed one month and made coincident with the transfer from Mr.
Kingsbery Foster, superintendent, up to the close of July, to Mr.
Daniel P . Kingsford, who then succeeded him.
The surplus bullion turned over at t h a t time, recovered by the
melter and refiner during the 13 months ending July 31, 1910, contained 126.872 ounces of gold and 1,411.48 standard ounces of silver.
During the fiscal year the foundations for the new refinery have
been completed and a large part of the framework erected.
For greater safety during this construction work $10,000,000 in
fine gold bars were transferred to the subtreasury for storage under
the seal of the superintendent.
All the operation^ of the office have been conductied under very
difficult conditions during the year, every department being very
much crowded and hampered by the changes and curtailment of space
and light in the present building incident to the erection of the new
refinery.
A S S A Y E R ' S DEPARTMENT.
The following is the report of the operations in the assay department during the fiscal year 1910:
There were assayed 10,517 melts of gold deposits, and 1,786 melts
of silver deposits, a total of 12,303 melts, involving 61,505 assays.
The fine gold and silver melts assayed were 375 and the fineness was
277
DIRECTOR OF M I N T .
stamped upon 55,954 bars of gold and 6,475 bars of silver, a total of
62,429.
.
.
^^ ;
Special assays numbered 928, being largely articles of jewelry and
manufacturer's samples.
Assays were made on 134 barrels of sweeps and on 155 consolidated
melts for shipment to the mint, with the usual incidental ones for the
melter and refiner, etc.
All cupels used were made in this department.
MELTER AND R E F I N E R ' S
DEPARTMENT.
The following is a statement of the business of this department
during the fiscal year ended June 30, 1910:
Weight.
Gold.
Gross oz.
199,156.66
3,114,623.236
2,270,292,05
5,612,52
Stand, oz.
101,406.808
3,066,361.797
37,261.877
443.710
Stand, oz.
92,757.55
212,536.64
2,345,377,21
848.07
5,589,684.466
3,205,474.192
2,651,519.47
Items.
Settlement metal of June, 1 9 0 9 . . . . . . . . .
Gold deposits
Silver deposits
Deposit melting-ropm grains and fluxes.
Total
:
Silver.
The melter and refiner returned during the year the following'
bullion:
.
Number of bars.
Gold,
Kind of bars.
Fine
Standard
Mint
Unparted..'.
In sweeps.
...:....
55,780
174
6,419
Stand, oz.
2, Oil,113.772
51,904.776
Stand, oz.
674,317.94
329"
14,157
Total.
Balance due superintendent June 30,1910, but not
delivered..
886,204.640
469.060
373,586,-34
1,481,161.21
546.70
2,949,692,248
'
Total
Silver,
Silver.
Gold.
2,529,612.19
255,781,944
55,954
20,905
121,907,28
3,205,474,192
2,651,519,47
There were delivered to the superintendent 98 barrels of melter
and refiner's sweeps, containing 469.060 ounces standard gold and
546.70 ounces standard silver.
; The operations of the melter and refiner's melting room were as
follows:
Items.
Gold.
Stand, oz.
2,251,149.211
297,358.761
52,171.451
Stand, oz.
355,505,44
232,406.18
2,600,679,423
587,911,62
Returned from melters: Tops, bars, etc., sweeps and other sources,
58,764.409
2,542,003.046
7,051,22
581,987.50
Total
Apparent gains
2,600,767.455
.88.032
589,038,72
1,127:10
Sent to melters and refined by fluxes
Unparted bars melted
1
Mixed deposits of gold coin melted.
Total
,.
:
278
REPORT ON T H E FINANCES.
One hundred and twenty-six and eight hundred and seven ty-two
one-thousandths ounces standard gold and 1,411.48 ounces standard
silver were returned in settlement of July 31, 1910, in excess of
amounts debited to melter and refiner.
The apparent sources of above amounts in excess are as follows:
Silver. *
Gold.
Items.
:
...
Apparent
losses.
Apparent
gains.
Ajiparent
losses.
Stand, oz.
232,371
Unparted bars
Gold bars '..'...
Silver bars
Assayer's account ..
Shipments
Apparent
' gains.
Stand, oz.
Stand, oz.
590,02
Stand, oz.
:...
27.107
232,371
.105.499
Net total apparent gains
.
78.392
105.499
126,872
647.32
288.44
1,525,78
114,30
114.30
114.30
1,411,48
There was an allowance during 12 months of 162.323 ounces
standard gold on small bars for which this department received no
credit.
THE MINT AT NEW ORLEANS.
The following table shows by weight and value the gold and silver
deposited during the fiscal year 1910:
Deposits. Standard
ounces.
Metals. ^
Gold
Silver
.
Total
:
-
*.....
-
836 47,151,035
-.45 94,332,21
881
Coining
value.
$877,228,56
109,768.39
986,996.95
. Included therein are 192.521 standard ounces of gold and 1,515.89
standard ounces of silver surplus recovered by the melter and refiner
in his operations during the 11 months ended May 31,1910.
The greater portion of deposits of gold were from Mexico, Central
and South America, and contained 40,288.749 standard ounces, of
the value of $749,558, while the deposits of domestic subsidiary coin
transferred from the Treasury contained 61,412.90 standard ounces
and those purchased over the counter contained 153.05 standard
ounces, a total of 61,595.95 standard ounces of the value in new
subsidiary coin of $76,598.37.
• "
279
DIRECTOR OF M I N T .
The following table shows the country from which the bullion was
received:
Gold.
Countries.
Mexico
Nicaragua .
Guatemala
Honduras..
Colombia .
Standard
ounces.
-. - -
Standard
ounces.
Value.
Value.
$324,59
17,447
38,240.022 711,442.27
1,405.475 26,148,37
588.853 10,955,40
687,49
36:952
..
SUver. .
-
5,85
17,646,54
142.62
189,38
12.77
$6,81
20,534.15
165.95
220,37
14,86
749,558,12
17,997.16
20,942.14
40,288:749
Total
A S S A Y E R ' S DEPARTMENT,
The work of the assayer's department of the mint consisted chiefly
of assay determinations for the value of gold and silver deposits, being
881 in number. There were also made 151 assays of mass melts, fine
and grain bars. The balance of the work was in assaying samples of
bullion, sweeps, and special bullion, making in all 1,099 assays as
follows:
.
NUMBER OF DEPOSITS AND PURCHASESAND BARS RECEIVED AND ASSAYED DURING
THE FISCAL YEAR ENDED JUNE 30, 1910.
Classification.
Gold.
SUver. Total.
Deposits
Mint fine bars issued
Melter and refiner's mass melts.
Superintendent's bars
Melter and refiner's grain bars..
Melter and refiner's fine melts..
Assayer's bars
Mint bureau samples
Transfer orders
Sweeps
Special bullion assays
881
70
25
12
. 8
32
4
58
3
2
4
Total.
1,099
MELTER AND R E F I N E R ' S
DEPARTMENT.
The amount of gold and silver received and operated upon by the
melter and refiner from July 1, 1909, to the settlement of his accounts
May 31, 1910, was as follows:
BuUion.
Bullion received
Bullion returned
Gold.
:
..
Silver.
Standard oz.
189,29L965
189,484.486
Standard oz.
171,651.55
173,167.44
192.521
1,515.89
Surplus recovered
•
The refinery operated upon 31,545.985 standard ounces of gold and
73,329.05 standard ounces of silver, of which there was an apparent
gain of 42.995 standard ounces of gold and 100.03 standard ounces of
silver.
;
280
REPORT ON T H E FINANCES.
•.
Silver bullion upon which charges were collected contained 17,148.88
standard ounces; silver bullion owned by the Government, upon which
there were no charges, contained 56,080.14 standard ounces.
There were 45.584 standard ounces of gold and 585.58 standard
ouiices of silver recovered from eight barrels of sweeps from the
various workrooms of this department. There were also made 996
melts of bullion of all kinds.
COINER'S
DEPARTMENT.
There were no operations in this department during the fiscal year.
OPERATIONS OF THE MINOR ASSAY OFFICES FOR THE FISCAL YEAR 1 9 1 0 .
Mint at Carson.—The deposits of bullion at this mint amounted to
$1,344,718.37, a reduction in the value of deposits from 1909, due to
the discontinuance of deposits by certain mines.
The earnings for 1910 amounted to $6,432.05, exceeding those of
1909 by reason of a clean-up of slag, etc., while the expenditures for
1910 were $14,950.35, or $1,817.26 more than for 1909. The necessary operations required to handle the above bullion show a total of
5,629 assays. I n addition there were 44 assays of ores and 14 assays
of bullion.
„
Assay office at Boise.—The value of deposits during 1910 at this
office amounted to $821,347, being $261,268.98 less than for 1909.
This decrease is claimed to be due to the extremely cold weather,
which prevented to a great extent mining operations.
The earnings for 1910 were $3,110.55, being $1,542.21 less than for
1909, while the expenditures for 1910 amounted to $13,822.20 and
exceeded those of last year by $511.96.
There were made, in addition to the regular assays required for
the determination of the value of bullion for payment of deposits,
628 assays.
Assay office at Helena.—The value of the deposits received during
1910 amounted to $2,013,632.58 and exceeded those of 1909 by
107,621.07, which apparently is due to the increased output of
Montana bullion deposited at this office. The earnings for 1910
amounted to $3,438.22, $888.08 less than for 1909, while the expenditures were $21,841.74, or $594.82 less than in 1909. ^
There were 3,625 assays made at this office, which required the
manufacture of 9,000 cupels. There were 40 mass melts made from
574 bars weighing 17,118.85 ounces and valued at $272,560.95.
Assay office at Charlotte.—The deposits of bullion at this office
amounted to $89,231.66, a reduction of $21,831.90 below the deposits
of last year. The earnings for 1910 were $911.78, against $1,166.06
for 1909. The expenditures were $4,212.04, being $282.25 in excess
of those for last year.
In addition to the regular assays for deposits 126 assays of ores
were made.
Assay office at St. Louis.—The deposits of bullion at this office
duririg 1910 amounted to $725,665.67 against $554,588.53, the value
of deposits for 1909, the increase of $171,077.14 being due principally
to the increased deposits made by private refineries at Chicago and
Cincinnati. The earnings for 1910 were $799.17, an increase, of
$122.44 over the amount reported last year. The 1910 expenditures
281
DIREbTOR OF M I N T .
were $3,742.32, exceeding those of 1909 by $35.67. I n addition to
the regular work of the office there were 25 assays of ores and 29
special assays of bullion.
Assay office at Deadwood.—The deposits received at this office were
of the value of $734,934.53, compared with $1,329,965.43, reported
for 1909. The reduction of $595,030.90 is assumed to be due to the
destruction by fire of a large milling plant. The earnings for the
year 1910 amounted to $2,385.17, a gain of $12.29 over those of last
vear, while the expenditures amounted to $7,629.17, or $99.07 less
than in 1909.
^
\ ,
There were 416 assays made during the year for the determination
of platinum, gold, silver, copper, lead, tin, and iron. Of these, 113
were made for the Forest Service and 18 for the General Land Office.
There were required for this work 2,500 cupels, which were made in
this institution.
Assay office at Seattle.—The value of deposits at this office is
reported as $12,196,785.81, against $19,314,127.29 for 1909, a reduction of $7,117,341.48, which is accounted for by diminished deposits
of bullion from Alaska as well as foreign crude and refined bullion.
The earnings for 1910 were $19,394.66, being $6,108.42 less than
for 1909. The expenditures were $42,498.51, against $44,669.29 for
1909.
^
_ :
There were 2,133 deposits, requiring 4,800 assays, using in the
operations 12,000 cupels manufactured in this office.
There were 51 special assays of bullion arid 112 assays of slag from
the melting room. There were 64 assays for gold and silver and 29
assays for copper made for the Forestry Service.
. The average fineness of the bullion deposited was 0.867^ gold and
0.119 silver. For convenience in shipment to the mints for coinage,
1,551 bars, each under 400 ounces in weight and aggregating
72,527.87 ounces Troy, were remelted into 67 large bars.
The source of the bullion deposited during the fiscal year was as
follows:
Source,
Gold.
Silver.
Total coining
value.
Alaska:
Circle
Cooks Inlet
Copper River
Eagle..
Innoko..
^
Koyukuk
Nome
Southeast Alaska
Tanana
•..
Stand, oz.
3,263.457
5,863,716
'6,906.646
1,972.876
3,33L876
21,028,645
222,426.617
8,229.351
300,250,791
Stand, oz.
645,77
. 978,69
850,65
, 355,92
465.60
1,337,48
25,037,60
1,736,70
43,327,37
Total for Alaska
British Columbia (crude)..
British Columbia (refined)
Yukon territory
AU others.
573,273,975
56', 602.168
7,241.036
8,516.791
4,356; .137
74,735,78
11,269.31
1,819.71
1,504,27
10,752,526,54
1,066,176,98
134,716.95
160,569,41
82,795,81
649,990,107
89,329.07
12,196,785.81
Total
....:
$61,466,92
110,231,23
129,485,59
37,118,83
62,530,18
392,786,95
4,167,304,28
155,125,09
5,636,477,47
TOTAL N U M B E R OF DEPOSITS R E C E I V E D FROM THE O P E N I N G OF THE INSTITUTION
ON J U L Y 15, 1898, TO THE CLOSE OF B U S I N E S S J U N E 30, 1910.
Number of deposits
Troy ounces
,
46,303
11,089,830,93
282
•
REPORT ON THE FINANCES.
SOURCE.
Alaska:
Nome
Tanana
Balance of Alaska.
$42,379,274.17
37,977,904.34
8,661,503.38
'.
.,
, Total of Alaska
.^.
British Columbia, Canada..:
Yukon territory. Canada.
AU other sources
89,018,681,87
12,406,178,62
86,625,363.97
2,070,259.74
Total.
r----,
190,120,484.20
Assay office at Salt Lalce.—The value of bullion deposited a t this
office amounted to $904,156.37. The earnings for 1910 were$l,508.91
and the expenditures $15,071.12.
There were 333 deposits requiring assay and 5,000 cupels used in
the operations of this institution, which were made on the premises.
To facilitate shipment of bullion to the mint there were 265 bars, all
under 300 ounces, massed into 13 larger bars, the total weight of
which was 8,294.45 ounces.
OPERATIONS OF THE MELTER AND REFINERS AND THE COINERS FISCAL
YEAR 1910.
The quantity of precious metals operated upon in the different
departments of the mints and assay office a t New York during the
fiscal year 1910 aggregated 15,036.212 standard ounces of gold and
26,393.567 standard ounces of silver. The figures in the table
following are the actual figures as obtained at the settlement of the
accounts.
GOLD.
Institution a n d department.
Philadelphia Mint:
Melter a n d refiner
Coiner
S a n Francisco M i n t :
Melter a n d r e f i n e r . , .
Coiner
N e w Orleans M i n t : i
Melter a n d refiner
Denver Mint:
'
Melter a n d r e f i n e r . . .
Coiner
N e w Y o r k assay office: 2
Melter a n d r e f i n e r . . .
Total:
Melter
finer
Coiner
•
Amount
delivered
by. superintendent.
Legal
aUowance on
amount
delivered.
/
Amount
returned
to s u p e r i n tendent.
Ambunt
operated
upon.
Surplus,
Wastage.
Stand, oz.
Stand.oz. St.oz.
Stand, oz.
Stand, oz.
Stand, oz.
1,839,490,674 T , 839,491 1,840,816.087 1,529,737.684 1,325.413
307,588,016
307,521.140
66.876
153,760
31,048.300
4,696,083,047 4,696,083 4,695,998,342 4,696,083.047
2,469,078,498 1,234,539 2,469,081,158 2,266,857.546
Loss
of
legal
allowance.
P.ct
81705
1,82
42.990
4.89
2.660
189,484.486
192.521
1,881,945.335 1,881, 945 1,882,251,774 1,882,251.774
1,758,337,700 .879,168 1,758,294.710 1,758,337.700
306.439
3,755,220,626 3,755.221 3,755,347.498 2,682,372,952
126,872
189,2^1.965
189,291 . 189,484,486
a n d re-
Grand total...
12,362,031.647 12,362.031 12,363,898.187 10,979,929.943 1,951,245
69, 536
4,534,937.338 2,267.467 4,534,963.884 4,056,243.546
16,896,968,985 14,629,498 16,898,862,071 15,036,173,489 2,020.781 127,695
I From July 1, 1909, to settlement May 31, 1910.
84.705
42.990
2 From July 1, 1909, to settlement July 31, 1910.
283
BIRECTOR OF M I N T .
SILVER.
Institution and department.
Amount
delivered
b y superintendent.
Legal
allowance on
amount
de.. livered.
Amount
returned
to superintendent.
Amount
operated
upon.
Loss
of
legal
allowance.
Wastage,
Surplus,
Stand, oz. Stand, oz.
6,825,648,72 10,238,47
4,174,142.49 4,174.14
N e w Orleans Mint: i
Melter a n d r e f i n e r . . .
Denver Mint:
Melter a n d refiner . .
Coiner
N e w Y o r k assay office: 2
Melter a n d refiner
Stand, oz.
6,822,418,53
4,173,828,64
Stand, oz. Stand.oz. St. oz.
3,230,19
7,151,502,88
313.85
3,936,902.10
P.ct.
31,54
7,51
6,761,007,10 10,141.51
7,403,812.30 -7,403.81
Philadelphia Mint:
- Mpltpr and rpflner
Coiner
San Francisco M i n t :
Melter a n d refiner
6,763,554,15
7,400,921,86
6,761,007.10 2,547! 05
2,890.44
7,048,701,43
39,03
173,167.44 •'
173,167,44 1,515,89
, 928.04
89.80
619,721,^97
89,804,37
619,721.97 1,024,15
27.32
89,804.37
4,213,51
2,810,421,52
612,759.61 1,411.48
171,651,55
257.48
618,697,82
89,777,05
2,809,010,04
4
Total:
Melter
finer
Coiner
and
re17,186,015.23 25,779.01 17,189,283,61 15,318,159.00 6,498,57 3,230,19
27,32 3,204.29
11,667,73L84 11,667.75 11,664,554,87 11,075,407,90
J,
28,853,747,07 37,446.76 '28,8.53,838.48 26,393,566,90 6,525,89 6,534.48
G r a n d total
1 From July 1,1909, to settlement May 31,1910.
2 From July 1, 1909, to settlement July 31,1910.
OPERATIONS OF THE INGOT MELTING ROOM, FISCAL YEAR 1 9 1 0 .
. The following table shows the amount of bullion converted into
ingots by the melter and refiner and the amount of coin manufactured by the coiner, with the percentage of coin produced to the
amount operated upon:
GOLD.
Melter a n d refiner's w o r k i n g s .
Melts for ingots ( n u m b e r ) .
Coinage m i n t s .
C o n v e r t e d into
ingots.
Wastage.
Made.
Stand, oz.
155,588,0102,189,675,460
.
•.
Remelted.
26
763 •
1,772,606,580
Philadelphia
San Francisco
New Orleans3...-.
Denver
Condemned,
Stand, oz.
293
.
27
- 43,869
•
1
326,386
•
Coiner's w o r k i n g s .
I n g o t s receiyed.
Coinage m i n t s .
Redelivery
of 1909.
Philadelphia
S a n Francisco
N e w Orleans 3
Denver . . . .
D e l i v e r y of
1910.
A m o u n t operated upon.
Coin p r o duced.
Percentage of perfect coin
produced to Wastage.
amount
operated
upon.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
31,048.300
23,713.157
1 98,435.200
209,085.200
272,381.850 2,189,614,600 2,266,857.546 1,280,674.375
i,
2 76.37
56.84
13,011.480 1,755,326.220 1,758,337.700 1,252,977,000
71,26
Stand, oz.
42 990
284
REPORT ON THE FINANCES.
SILVER.
Melter a n d refiner's workings.
Melts lor ingots ( n u m b e r ) .
Coinage m i n t s .
Converted i n t o
ingots.
Wastage..
Condemned,
Made.
~
^
,
Stand, oz.
3,748,364,40
6,288,197,50
966
. 3,646
52,807,05
Philadelphia.
S a n Francisco '.
N e w Orleans ^
Denver
Remelted,
Stand, oz.
1,243.63
3
1
3
4
37
.
Coiner's w o r k i n g s .
V
I n g o t s received.
Percentage of perfect coin
prod u c e d to, W a s t a g e .
amount
operated
upon.
Coinage m i n t s .
Redelivery
of 1909.
Delivery of
1910,
A m o u n t operated upon.
Coin produced.
Stand, oz.
180,182,20
801,987,75
.'
Stand, oz.
3,966,018,40
6,215,401,14
Stand, oz.
3,936,902,10
7,048,701,43
Stand, oz.
2,340,252.55
4,171,489.02.
1 36,970.00
Philadelphia
San Francisco
N e w Orleans ^
Denver
52,807,05
89,804.37
32,873,37
63,19
58,17
Stand, itz.
313,85
2,890,44
NICKEL.
Melter a n d refiner's w o r k i n g s .
Melts for ingots ( n u m b e r ) .
Coinage m i n t s .
Converted i n t o
ingots.
Wastage.
Made.
I'roy oz.
5,191,652.40
Philadelphia
Condemned.
Remelted.
Troy oz.
.
1,605
^'
Coiner's workings.
Ingots received.
Coinage m i n t s .
Redelivery
of 1909.
Philadelphia
Deliverv of
1910.'
Troy oz.
360,767.80
Troyoz.
5,191,652,40
A m o u n t operated upon.
Coin produced.
Troy oz.
5,237,617,20
Troy oz.
2,742,310,98
Percentage of perfect coin
prod u c e d to Wastage.
amount
operated
upon.
49,39
Troy oz.
5,971.37
285
DIRECTOR OF M I N T .
BRONZE.
'
Melter a n d refiner's w o r k i n g s .
Coinage m i n t s .
-
M^lts for ingots ( n u m b e r ) .
'
Converted into
ingots.
Made.
Condemned.
Wastage.
Remelted,
•
Philadelphia
San Francisco
Troyoz.
23,635,109.40
1,302,438.50
:
^... j
Troy oz.
85,999.47
2,324,84
8,492
905
Coiner's workings.
I n g o t s received.
Coinage m i n t s .
Redelivery
of 1909.
Delivery of
1910.
Amount operated upon.
Coin p r o duced.
Percentage of perfect coin
produced t o Wastage.
amount
operated
upon.
Troyoz.
Troy oz.
Troy oz.
Troy oz.
3,414,393,50 23,635,109,40 26,901,807.90 14,425,498,70
680,639,68
3,922,48 1.302.438.50 1,097.617.70.
Philadelphia
San F r a n c i s c o .
53.33
56 76
Trov oz.
54,989,90
5,173,92
1 Unfinished coin.
•
2 Operations on gold confined almost exclusively to unfinished coin.
3 Operations suspended.
PERCENTAGE OF LOSS IN MELTING OF DEPOSITS, 1 9 1 0 . "
I n the statement of percentages of loss appended hereto there is
shown a wide difference of loss in melting similar grades of bullion
deposited at the several offices connected with the service. This is
accounted for by the crude condition in which many of the bars are
presented.
Number of
deposits.
Kings
and
bars.
3,897
6,121
881
4,141
10,517
1,119
.
848
-.
850
216
329
166
2,133
333
0.550
.075
.717
.208
.102
.060
2,388
5,416
.920
.036
.070
.023
.091
" M i n t s a n d assay offices.
Philadelphia
S a n Francisco
N e w Orleans
Denver
.
. .
New York
Carson .
^
Boise
.'
Helena
Charlotte.
St, Louis
Deadwood .
.
Seattle-.
, • Salt L a k e .City
.....!
.
.
*
.
.•
. . .
Dust.
Retorts,
Amalgam
unretorted.
U , S. Mis- N u g - Jewcoin. cella- gets. elry.
neous,
5,730
5,740
3,560
3,256
4,757 53,414
3,936
4,438
11.367 6." 253' 2.064
3,091 " i , ' 6 7 4 '
1.643
4,636
5,848
.067 1.645
1,094
.740 '43."4i7."
21.829
4,7,61
3,027 51.760
32, 316
5,012
4,856
2.825
7,747
6,730
4.979
3,367
7,468
3,983 10,958
3,553
5,560
4,180 8.332
5,693
3,249
1.820
2,514
350
The percentage of loss in melting bars exchanged for coin was 0.284
and on return bars 9.240, occurring at the Denver Mint.
286
REPORT ON T H E FINANCES.
WASTAGE AND LOSS ON SALE OF SWEEPS AND GAINS FROM^OPERATIONS.
The value of the precious metals wasted in the metallurgical and
mechanical departments was $5,676.09. A loss of $4,912.75 occurred
fromHhe difference between the assay value of the bullion contained
in sweeps sold and the amount received for the same, as described
in the following table:
WASTAGE AND LOSS ON SALE OF SWEEPS. ,
Mint at—
Items. .
Philadel--" San Francisco.
phia.
Melter and refiner's gold wastage.
Melter and refiner's silver wastage....
Coiner's gold wastage
Coiner's silver wastage
:
Loss on sale of sweeps
Denver.
Paid as follows:
From contingent appropriation...
From parting and refining appropriation
'.
Assay
office at
New
York.
$1,575,90
337.56 $1,010.20
1,010.20
10,588.84
281.51
1,010.20
4,917,89
1,137.37
1,010,20
10,588. 84
161,60
832.24
i,475,6i
1,966,08
$766,07
5,018,19
766,07
1,137,37
766,07
855,86
1,065,83
2,983,19
1,591,18
2,035,00
2,657,01
5,018,19
Total.
$1,575,90
1,663,17
799,81
1,637.21
4,912,75
$799.81
2,657,01
Total..
• Total
$1,663.i7
New
Orleans,
706,07
5,670,95
The^wastage and loss on sale of sweeps amounted to $10,588.84.
Against these losses there were gains arising from the operations in
bullion during the year aggregating $116,543.30, as follows:
Character of gains.
Surplus buUion returned by operative officers
Precious metals recovered in grains and sweeps
Net gains on buUion shipped from assay offices to the mints for coinage
Received in excess of assay values of melter and refiner's sweeps sold..
Charges for treatment of deposit melting room sweeps
Gain on light-weight tJnited States gold coin for recoinage
Value of bullion recovered from cleaning refinery pipes after settlement
Receipts from the sale of by-products
Amount recovered on account of embezzlement
'.
Total
Fiscal year
1910.
$40,797,5.1
26,006,88
4,508,89
457, 82
807, 88
220,26
1,088,45
41,836,82
• 818,77
•
116,543.30
Deducting the incidental gains on bullion operated on from the
value of the total wastages and losses on sale of sweeps, there has
been a net gain in the operations of the mints during the fiscal year
of $105,954.46.
DIRECTOR OF MINT.
RECEIPTS AND DISPOSITION
287
OF GOLD BULLION,
FISCAL YEAR 1 9 1 0 .
The receipts of gold bullion at the mints and assay oflices aggregated $166,904,784.96, as shown by the following table:
Deposited.
Institutions,
Deposits.
Philadelphia
S a n Francisco
N e w Orleans
Denver
New York
Carson
Helena
Boise
Charlotte.
St. Louis
Deadwood .
Seattle
Salt L a k e City
$1,535,289.56
34,750,377.94
873,228..57
14,704,274. 40
57,741,835.87
1,302,626. 74
1,938,916. 67
• 797,997.72^
88, .387. 51
723,929. 92
676,095.98
12,090,312.16
883,894.54
;.
,
•.
....
128,107,167. 58
Total
Uncurrent
U n i t e d States
coin t r a n s , ferred for
recoinage.
Surplus
bullion
recovered.
Redeposited—
R e c e i p t s from
assay offices.
Total.
$2,213,740.31 1 $14,771. 90 $20,314,147. 54
1,292. 65
1,266.24
7,659,097.19
2 4,010.40
11,661. 06
7,5.33,903.93
5,490.80
3 1,031,052.31
3,144. 87
335. 22
420. 25
190. 74
46:96
3()9. 62
2,527.10
148. 29
2,215,032.96
44,383. 45
36,538,200,97
$24,077,949.31
42,412,034. 02
877,238. 97
22,249,839.39
58,778,378. 98
1,305,771.61
1,939,251. 89
798, 417. 97
88 578 25
723,976. 88
676,465. 60
12,092,839.26
884,042. 83
"166,904,784. 96
,
1 Of this amount $217.07 was gained on United States light-weight coin melted,
2 Of this amount $10.21 was gained on shipments to Philadelphia Mint,
3 Fine bars received from Philadelphia Mint.
The disposition of gold bullion contained in the above table is as
follows:
Institutions.
Bars paid
depositors.
S h i p p e d to
t h e m i n t .for
coinage.
Sold in
sweeps.
Bars
exchanged
for coin.
Coinage,
Wastage.
P h i l a d e l p h i a . . . . $279,195. 85 i$i;031,052.31 $14,633.81 $7,373,683. 54 $441,175. 00 $1,119.85
14,639. 21 9,057,449. 93 23,826,500. 00 1,575.90
San Francisco.
34,323. 91
2 3.10
13,872.00 1,321.26
18,638.21
New Orleans.. .
2,008. 76
23,311,200.00
799. 81
Denver
13,787. 55
New York
3,589,277. 87 16,487,528.19 7,090.62 23,687,715.21
Carson
1,288,989.75
375,44 1,967,699. 80
Helena...
791,446. 58
Boise
88,407. 78
Charlotte.
170, 47
734,541.07
St Louis
690,571.00
Deadwood
12, .543,021.10
Seattle
901,033.04 1
Salt L a k e C i t y . . .
48. 50
Total
Total.
$9,140,860. 36
32,934,488. 95
33,834. 57
23,328,396,12
43,771,611,89
1,288,989. 75
1,968,075,24
791,446. 58
88,578, 25
734,541.07
690,571,00
12,543,021,10
901,081,54
3,935,817,80 36,538,162.62 40,293. 66 40,118,848.68 47,578,875.00 3,498,06jl28,215,496,42
1 Fine bars shipped to New York assay office.
' Loss on shipments to Pliiladelphia Mint.
288
R E P O R T ON T H E
EINANCES.
BALANCES, R E C E I P T S , AND
DISBURSEMENTS.
Balances of gold bullion on hand June 30, 1909, and receipts, disbursements, and balances June 30, 1910, at the mints and assay offices
are shown in the following table:
Balance on
h a n d J u n e 30,
1909.
Philadelphia .
San Francisco
N e w Orleans
Denver.
NewYork
Carson
Helena
Boise
Charlotte .
St, Louis
Deadwood
Seattle
..
S a l t L a k e City
..
R e c e i p t s during t h e fiscal
year 1910.
$16,710,902.98
31,808,687.41
2,759,100,66
4,974,794.29
7,231.244.51
69', 438.33
85,402.80
37,540.31
Institutions.
$9,140,860.36
$24,077,949.31 $40,788,852.29
32,934,488.95
. 42,412,034.02' 74,220,721.43
33,834.57
3,636,339.63
877,238.97
27,224,633.68 . 23,-328,396.12
22,249,839,-39
43,771,611.89
66', 009.623. 49
58,778,378,98
1,288,989.75
1,375,209.94
1,305,771.61
1,968,075.24
2,024,654.69
1,939,251.89
791,446.58
798,417.97
835,9.58.28
88,578.25
88,.578.25
88,578.25
734,541.07
723,976.88
776,084.70
690,571.00
676,465.60
703,632.82
12,092,839.26
12,543,021.10
13,921,050.50
884,042.83
901,081.54
959,672. 63
$31,647,991.93
41,286,232.48
3,602.505.06
3,896,237.56
22,238,011.60
86,220.19
56,579.45
44,511.70
166,904,784.96
.104,349,515.91
52,107.82
27,167.22
1,828,211.24
75,629.80
Total
65,660,227.37
Disbursements
d u r i n g fiscal
year 1910.
Total.
232,565,012.33
Balance on
J u n e 30,1910.
41,543,63
13,061.82
1,378,029.40
58,591.09
128,215,496.42
COST O F M A I N T E N A N C E .
The deposits, earnings, and expenditures of the mints and assay
offices during the fiscal year 1910 were as follows:
COINAGE MINTS AND ASSAY OFFICE AT NE'W
Institutions.
Number of
deposits.
Number of
redeposits.
1,976
Philadelphia
3,897
San F r a n c i s c o . . . . 8,108
502
N e w Orleans
881
Denver
4,141 " " 5 5 i '
New York
34
12,303
Total
29,-3-30
3,063
Y O R K , FISCAL Y E A R
1910,
Value of deposits.
Expenditures.
.Earnings.
Employees,
Silver.
Gold,
$24,095,005.64 $3,160,030.52 $3,750,372.94
917,514.27
42,412,034,02 2,154,413.07
9,123,86
877,228,-56
109,768.39
22,244,138.15
505,907.82
99,396.19
57,747,326.66 2,977,258.04
49,284.77
147^375,733.03
8,907,377,84
4,831,692.03
-$594,909.15
364,660.73
58,858.40
181,879.40
139,396,26
360
209
23
119
75
1,339,703,94
786
NOTE,—The percentage of net earnings to deposits at Philadelphia is 11.59955, and at San Francisco
1,24051.
MINOR ASSAY
OFFICES.
V a l u e of deposits.
Assay oflices.
Carson
Boise
Helena
Charlotte
St, L o u i s . . Deadwood
Seattle . . .
SaU L a k e City
Number
of deposits.
.
Total
Earnings,
Expenditures. .
Gold,
Silver.
1,119
848
850
216
329
166
2,133
333
$1,305,771.61
798,417.97
1,939,251.89
88,578.25
723,976.88
676,465. 60
12,092,839.26
884;042.83
$38,946.76
22,929.03
74,380.69
653. 41
1,688.79
58,468.93
103.946.55
20;il3.54
$6,432.05
3.110,55
3; 438.22
911.78
799.17
2,385.17
19,394.66
1,508,91
$14,950.35
13,822.20
21,841.74
4,212,04
3,742.32
7,629.17
42', 498. 51
15,071,12
5,994
18,509,344.29
321,127.70
37,980,51
123,767.45
i Includes 3 temporary employees.
Percentage of n e t E m p l o y expenses
ees.
to deposits
0.63
1.30
,91
-3.69
,41
' ,71
.19
1.50^
8
10
12
4
3
5
28
7
177
289
DIRECTOR OF M I N T .
FREIGHT CHARGES ON BULLION AND COIN.
The freight charges on bullion shipped to the mints by the assay
offices and on coin shipped from the mints to the assay offices during
the fiscal year 1910 aggregated $46,385.68.
MOVEMENT OF GOLD FROM THE PORT OF N E W YORK.
The superintendent of the United States assay office at New York
has prepared the following tables, giving exports of gold through the
port of New York.
STATEMENT OF U N I T E D STATES GOLD COIN AND GOLD BULLION EXPORTED FROM
THE P O R T OF N E W Y O R K TO E U R O P E DURING THE FISCAL Y E A R ENDED J U N E 30,
1910.
Date.
Countries,
England.
December 23.
April
April
April
April
April
April
April
April
April
1..
4..
5..
12.
13.
19.
22.
25.
26.
Amount,
1910,
Rate
of exchange.
$14,600
2,000,000
500,000
5,150,000
4,000,000
600
3,000,000
3,000,000
10,000,000
4,500,000
do....
do....
do....
do....
Germany.
England..
do
do....
....do....
4, 8775
4, 8775
4, 8795
4, 8785
4, 8765
4,877
4, 8775
4, 8775
4, 8785
. 4, 8785
32,165,200
Total.
RECAPITULATION OF GOLD EXPORTS TO E U R O P E .
Classification.
United States coin
Foreign coin
France,
:
$500
Total
500
England.
Germany.
.$32,164,600
$600
3,855
32,164,600
4,455
Grand total of exports to Europe
$32,169,555
Shipped to West Indies, Mexico, Central and South America, Cuba, etc,, during the same
period:
United States coin
$37,032,310
Foreign coin
3,720,968
—
40,753,278
Grand total of gold exports
72,922,833
The imports during the same period were as follows:
From Europe:
United States coin
Foreign coin
Bullion
Bullion in ore, etc
$3,868,150
246,159
8,926
Total gold Imports from Europe..
4,123,235
From other ports (West Indies, Mexico,
Central and South America, Cuba,
etc):
United States coin
$860,036
Foreign coin
100,857
Bullion
3,883,144
Bullion in ore, etc
.,...
355,852
Total gold from other ports
Grand total of gold Imports
65872°—FI 1910-
-19
5,199,889
i.
9,323,124
290
REPORT ON T H E FINANCES.
NET EXPORTS UNITED STATES GOLD COIN.
The net exports of United States gold coin since January 1, 1870,
are as follows:
Period.
Imports,
Tan 1 t o Tuly 1 1870
Fiscal year—
1871
1872
1873
1874
1875
1876
1877
1878
•
1879
1880
I8S1
1882
1883
1884
1885
1886
1887. .
1888
1889
1890
1891. . .
1892
$6,384,250
$7,325,783
3,654,859
18.207,559
7,577,422
4,796,630
8,112,265
3,824,692
3,352,090
1,687,231
5,862,509
5,181,512.
1,403,619
1,949,552
2,824,146
15,432,443
Period,
Iraports.
Exports,
Fiscal year—Cont'd,
1893....
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907.
1908
1909
-..,....
1910
$6,074,899
30,790,892
10,752,673
10,189,614
57,728,857
40,590,947
7,779,123
8,659,856
3,311,105
3,870,320
1,519,756
5,780,607
2,236,399
35,251,921
44,445,402
44,929,518
4,642,690
2,050,563
$101,844,087
64,303,840
55,096,639
77,789,892
23,646,565
8,402,216
27,425,587
• 30,674,511
8,425,947
9,370,841
18,0415 660
15,682,424
54,409,014
20,573,572
22,632,283
28,246,170
66,126,869
86,329,314
411,797,454
1,187,822,914
Exports,
55,491,719
40,391,357
35,661,863
28,766,943
59,309,770
27,542,861
21,274,565
6,427,251
4,120,311
1,687,973
1,741,364
29,805,289
4,802,454
12,242,021
2,345,809
5,400,976
3,550,770
3,211,399
4,143,939
3,951,736
67,704,900
42,841,903
Total
^.
N e t exports
STOCK OF MONEY IN THE UNITED
776,025,460
STATES.
On June 30, 1910, the stock of domestic coins in the United States
was $2,254,511,253, as shown by the following table:
OFFICIAL T A B L E OF STOCK OF COIN IN THE U N I T E D STATES J U N E 30,
1910.
items.
Gold,
Silver.
Total.
E s t i m a t e d stock of coin J u n e 30,1909
N e t i m p o r t s , U n i t e d S t a t e s coin, fiscal year 1910
U n i t e d States coin r e t u r n e d in t r a n s p o r t s from t h e P h i l i p p i n e I s l a n d s , fiscal year 1910, n o t recorded a t t h e c u s t o m
house
Coinage, fiscal year 1910
$1,574,906,904
$727,685,265
2,052,816
$2,302,592,169
2,052,816
47,578,875
114,970
4,297,567
14,970
51,876,442
1,622,485,779
734,050,618
2,356,536,397
3,632,031
814,362.
4,446,393
3,500,000
84,278,751
100,000
3,600,000
84,278,751
9,700,000
9,700,000
91,410,782
10,614,362
102,025,144
1,531,074,997
723,436,256
2,254,511,253
Total
Less:
U n i t e d States coin m e l t e d for recoinage (face v a l u e ) . .
U n i t e d S t a t e s coin e s t i m a t e d to h a v e been used i n t h e
arts
N e t e x p o r t s . U n i t e d States coin, fiscal year 1910
A m o u n t d e d u c t e d b y b u r e a u of t h e m i n t for excess of
I m p o r t s over e x p o r t s of subsidiary silver coin, fiscal
years I881-I910
T o t a l '.
E s t i m a t e d stock of coin In t h e U n i t e d
J u n e 30,1910
States
1 Of this amount $1,750 were in $1 pieces.
NOTE.-—-The number of standard silver dollars coined to June 30, 1910, was 570,272,610, which added to
the Hawaiian dollar coinage, 500,000, plus the number imported from the Philippine Islands, 150,000, and
the number returned in Government transports from the Philippine Islands, 493,680, equals 571,416,290.
Since July I , 1898, the number of standard silver dollars exported in transports has been 2,495,000, and
since 1883 the number melted has been 188,964 (see this report, p, 249); and the number of Hawaiian dollars
melted to June 30,1910, has been 454,818, a total disposition of 3,138,782, leaving In the United States on
June 30,1910, 568,277,508 standard silver dollars, and $155,158,748 in subsidiary silver coins.
291
DIRECTOR OE M I N T . ,
BULLION I N M I N T S AND ASSAY OFFICES J U N E 30,
1910.
Bullion.
Value.
Gold
Silver (cost)
$104,349,516
3,642,048
Total.
107,991,564
METALLIC STOCK, J U N E 30, 1905,
Coin a n d
bullion.
J u n e 30,1905.
J u n e 30,1906.
1906,
J u n e 30,1907.
1907,
1908,
J u n e 30,1908.
1909,
AND 1910.
J u n e 30,1909. J u n e 30,1910.
$1,357,881,186 $1,472,995,209 $1,466,056,632 $1,615,140,575 $1,640,567,131 $1,635,424,513
705,330,224
723,594,595
733,250,073
727,078,304
687,958,920
686,401,168
Gold .
Silver
Total..:. 2,044,282,354
2,160,954,129
2,171,386,856
2,373,817,204
2,338,735,170
2,362,502,817
O'WNERSHIP OF GOLD .AND SILVER IN THE U N I T E D STATES J U N E 30,
1910.
Silver coin and bullion..
Gold coin
and
bullion.
Ownership.
Silver
dollars.
Subsidiary
coin.
United States Treasury
$241,792,322 $17,247,756 $19,575,017
(free}
United States Treasury
(for certificates o u t standing)
802,7.54,199 478,597,238
National banks (June 30)., 151,129,891 13,455,754 18,641,256
National banks (for clearing-house certificates)..,
70,975,000
Private banks and Individuals
368,773,101 58,976,760 116,942,475
1,635,424,513 568,277,508 155,158,748
Total
Silver
bullion.
Total gold
and
silver coin
and
bullion.
Total
silver.
$3,642,048 $40,464,821
$282,257,143
478,597,238
32,097,010
1,281,351,437
183,226,901
175,919,235
544,692,336
3,642,048 727,078,304
2,362,502,817
70,975,000
LOCATION OF M O N E Y S OF THE U N I T E D STATES J U N E 30,
1910.
I n national
b a n k s J u n e 30,
1910.
I n other
banks a n d in
circulation.
$104,349,516
3,642,048
940,197,005
495,844,994
19,575,017
1 $222,104,891
13,455,754
18,641,256
$368,773,101
58,976,760
116,942,475
$104,349,516
3,642,048
1,531,074,997
568,277,508
155,158,748
1,563,608,580
254,201,901
544,692,336
2,362,502,817
11,893,146
9,475
29,771,198
176,429,038
2 49,453,446
158,358,832
3,662,525
634,206,089
346,681,016
3,672,000
713,430,733
Total notes
• 41,673,819
225,882,484
796,227,446
1,063,783,749
Gold certificates
Silver certificates
60,182,670
10,519,7.62
266,702,390
123,439,564
536,051,809
355,157,674
70.702,432
390,141,954
891,209,483
1,675,984,831
870,226,339
2,232,129,265
In Treasury.'
Money.
METALLIC.
Gold bullion
Silver bullion
Gold coin
Silver dollars
Subsidiary silver c o i n .
Total.
"
•,
Total m e t a l l i c . . .
PAPER.
Legal-tender notes ( o l d ) .
•
Legal-tender notes ( a c t J u l y 14,1890)...
N a t i o n a l - b a n k notes
Total certificates
G r a n d total
1 Includes $70,975,000 gold clearing-house certificates.
2 Includes $7,709,515 of their own notes held by different national banks.
3,426,286,566
292
REPORT ON T H E
EINANCES.
ESTIMATED STOCK OF GOLD AND SILVER IN THE U N I T E D STATES AND THE AMOUNT
P E R CAPITA AT THE CLOSE OF EACH FISCAL Y E A R SINCE 1873.
^
T o t a l stock of coin a n d b u l lion.
Fiscal year e u d e d J u n e 30—
P o p u l a t on.
Gold,
3873
1874
1875
1876
1877
1878
1879
1880
1881
.
1882
1883
.
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893.
1894...:
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1900
1907
1908
1909.
1910
-
- .
'
'.
.
•
.
-.
•.
. ..
:
'
.
?.
Per c a p i t a .
41,677 000
42,796 000
43,951 000
45,137 000
46,353,000
47,598 000
48,866 000
50,155 783
51,316 000
52,495 000
53,693 000
54,911 000
56,148 000
57,404 000
58,680 000
59,974 000
61,289,000
62,622,250
63,975,000
65,520,000
66,946,000
68,397,000
69,878,000
71,390 000
72,937 000
74,522,000
76,148,000
76,891,000
77,754,000
79,117,000
80,847,000
81,867,000
83,259,000
84,662,000
86,074,000
87,496,000
88,926,000
90,363,000
Silver,
Gold,
$3,23
$135,000,000
$6,149,305
3,44
10,355,478
147,379,493
2.75
19,367,995
121,134,906
2.88
36,415,992
- 130,056,907
3,61
56,464,427
167,501,472
4,47
88,047,907
213;199,977
5,02
117,526,341
245,741,837
7,01
148,522,678
351,841,206
9.32
175,384,144
478,484,538
9.65
203,217,124
506,757,715
10.10
542,732,063 • 233,007,985
9.93
255,568 142
545,500 797
10.48
283,478 788
588,697 036
10.29
312,252,844
590,774 461
11.15
352,993,566
654,520 335
11,76
386,611,108
705,818,855
11,09
420,548,929
680,063,505
11,10
463,211,919
695,563,029
10.10
522,277,740
646,582,852
10,15
570,313,544
664,275,335
8.93
615,861,484
• 597,697,685
9,18
624,347,757
627,293,201
9.10
625,854,949
636,229 825
8.40
628,728 071
599,597,964
9.55
634,509 781
696,270 542
11.56
637,672,743
861,514,780
12.64
639,286 743
962,865,505
647,371,030 ' 13.45
1,034,439,264
14.47
661,205,403
1,124,652,818
15.07
670,540,105
1,192,395,607
15.45
677,448,933
1,249,552,756
16.22
682,383,277
1,327,672,672
16,31
686,401,108
1,357,881,186
17.40
687,958,920
1,472,995,209
17,03
705,330,224
1,466,056,632
18.46
723,594,595
1,615,140,575
18.45
733,250,073
1,640,567,131
18.10
727,078,304
1,635,424,513
Silver,
$0,15
.24
,44
,81
1.21
1,85
2.40
2.96
3.41
3.87
4.34
4.65
5,05
5.44
6.00
6.44
6.86
7,39
8.16
8,70
9,20
9,13
8.97
8.81
8.70
8.56
8.40
8.42
8,50
8,48
8.38
8,33
8.24
8.12
8.20
8.27
8,25
8,05
Total
metallic.
$3,38
3.68
3.19
3 69
4.82
6 32
7.42
9.97
12.73
13,52
14.44
14,58
15,53
15,73
17,15
18 20
17,95
18.49
18,26
18.85
18,13
18,31
18,07
17,21
18 25
20,12
21.04
21.87
22.97
23.55
23,83
24,55
24 55
25.52
25 23
26.73
'26,70
26,15
UNITED STATES GOLD COIN IN CANADA.
The holdings of United States gold coin in the treasury of the
Dominion of Canada on December 31, 1909, was $62,988,474.
The holdings of the charter banks (29In number)^ on the same date
aggregated $17,364,362, or 63.24 per cent of°their specie holdings.
The total amount of United States gold coin in Canadian reserves on
the foregoing date was therefore $80,352,836.
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN THE UNITED
DURING THE CALENDAR YEAR 1 9 0 9 .
STATES
Among the purveyors of gold and silver bars for use in the industrial arts the United States Mint at Philadelphia and the United
States assay office at New York hold the foremost places; consequently, the larger portion of the material consumed in the arts is
brought under Government notice and is a matter of public record.
293
DIRECTOR OE M I N T .
The following table gives the value of the gold and the quantity of
the silver bars issued by the Government institutions and private
refineries during the calendar year 1909, with the class of material
from which they were made:
GOLD AND SILVER B A R S I S S U E D BY THE GOVERNMENT INSTITUTIONS AND MANUFACTURED BY PRIVATE R E F I N E R I E S FOR USE IN THE INDUSTRIAL A R T S DURING THE
CALENDAR Y E A R 1909,
•'• •
Materials used.
Domestic bullion
Foreign m a t e r i a l
U n i t e d States coin '.:
Old jewelry, e t c
V a l u e of gold issued b y Governm e n t institutions.
$18,455,948
10,561,660
98
2,870,870
Total
31,888,576
Private
refineries.
Total,
$224,255 $18,680,203
207 10,561,867
364,458
364,556
2,015,829
4,886,699
2,604,749
34,493,325
W e i g h t of sUver issued b y —
Governm e n t institutions.
Private
refineries.
Total.
F i n e ounces. F i n e ounces. F i n e ounces.
594,763 15,634,015 • 16,228,778
1,605,856
3,209,021
4,814,877
1,500
1,500
354,629 6,425,498
6,780,127
2,555,248
25,270,034
27,825,282
Estimating that the total amount of gold coin used in the arts during the calendar year 1909 has been $3,500,000, aiid silver coin
$100,000, ecjuivalent to 77,344 fine ounces, the total industrial consumption would be as follows:
Gold.
Materials used.
Domestic bullion
Foreign m a t e r i a l
U n i t e d States coin
Old m a t e r i a l
.
-. .
Total
Silver.
Value.
$18,680,203
10,561,867
3,500,000
4,886,699
F i n e ounces.
16,228,778
4,814,877
77,344
6,780,127
37,628,769
27,901,126
III order to arrive at the net consumption in the industrial arts,
there should be deducted from the foregoing totals the amount of
old jewelry, plate, etc., included, and also the amount of the same
class of material returned to coinage use. In the year 1909 these
amounts aggregated $7,380,560 in gold, and 6,941,962 fine ounces of
silver, which leaves $30,248,209 of gold anci 20,959,164 fine ounces
of silver as the net amount of new bullion devoted to industrial use.
294
REPORT ON T H E EINANCES.
The following table gives the amounts and the classification of gold
and silver, used in the industrial arts in the United States since 1880:
GOLD AND SILVER B A R S F U R N I S H E D FOR U S E IN MANUFACTURES AND THE A R T S ,
AND CLASSIFICATION OF THE MATERIAL U S E D , BY CALENDAR Y E A R S , SINCE 1880.
GOLD.
Ne'w material.
Calendar years, ,
1880
1881
1882
1883. .
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896..."
1897
1898
1899
1900
1901.
1902
1903 .
1904
1905 . .
1906
1907
1908
1909
..
United States
coin.
..
Total
Domestic
bullion.
$6,000,000
$3,300,000
7,000,000
2,700,000
2,500,000
7,000,000
4,875,000
7,840,000
5,000,000
6,000,000
3,500,000
6,736,927
3,500,000
7,003,480
3,500,000
9,090,342
3,500,000
9,893,057
3,500,000
9,686,827
3,500,000
10,717,472
3,500,000
10,697,679
3,500,000
10,588,703
1,500,000 • 8,354,482
1,500,000
6,430,073
1,500,000
8,481,789
1,500,000
7,209,787
1,500,000
7,184,822
1,500,000
9,463,262,
1,500,000
13,267,287
1,500,000
14,582,627
1,500,000
16,296,688
1,500,000
18,653,625
3,500,000
19,944,365
3,500,000
12,298,459
3,500,000
20,559,910
3,500,000
18,667,804
3,500,000
15,546,924
3,500,000
8,407,971
3,500,000
16,186,342
85,875,000
329,790,704
Foreign
bullion and
coin.
Total new
material.
Old
material.
Grand
total.
$10,567,600
$395,000 $10,962,600
$1,267,600
11,247,800
522,900
. 1,547,800
11,770,700
10,171,500
696,500
671,500
10,868,000
12,909,500
1,549,300 14,458,800
194,500
11,385,500
3,114,500
385,500
14,500,000
10,415,840
1,408,902
178,913
11,824,742
11,141,483
1,928,046
638,003
13,069,529
12,974,464
1,835,882 14,810,346
384,122
14,111,866
2,402,976
718,809
16,514,842
13,478,085 3,218,971 16,697,056
291,258
14,579,534
3,076,426
362,062
17,655,960
14,826,204
4,860,712
628,525
19,686,916
14,860,389 . 4,468,685 19,329,074
771,686
10,658,736
2,777,165 . 13,435,901
804,254
8,473,658 2,184,946
543,585
10,658,604
10,452,816
2,976,269
471,027
13,429,085
9,026,591 2,369,343 11,395,934
316,804
9,298,803 2,571,428
613,981
11,870,231
11,400,903
2,164,976
437,641
13,565,879
15,112,193
2,734,985 17,847,178
344,906
16,667,530
3,480,612 20,148,142
584,903
085,642 . 18,482,330 3,386,626 21,868,956
21,005,298
4,677,549
851,673
25,682,847
24,397,962
4,665,589
953,597
29,063,551
22,930,036
5,725,927 28,655,963
7,131,577
27,621,979
5,586,636 33,208,015
3,562,069
32,619,841
6,506,922 39,126,763
10,452,037
33,549,495
7,177,575 40,727,070
14,502,571
14,754,945 16,721,146
2,846,974
31,476,091
30,248,209
7,380,560 37,628,769
10,561,867
63,705,386
479,371,090 112,567,054
591,938,144
SILVER (FINE OUNCES).
1881
1882
1883...
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896...1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
Total.
464,063
154,687
154,687
154,687.
154,687
154,687
154,687
154,687
154,687
154,687
154,687
154,687
154,687
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
. 77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
3,635,155
3,867,188
4,563,281
4,906,920
3,576,143
3,480,469
3,511,310
2,804,635
3,173,208
5,010,218
5,644,495
5,525,155
5,637,642
5,572,006
5,082,054
6,635,685
7,599,323
6,160,777
7,116,009
9,417,981
8,388,658
10,423,485
11,809,418
15,236,711
15,016,256
16,629,834
16,580,307
15,231,628
17,431,691
15,842,812
16,066,943
273,023
286,945
340,544
119,883
502,734
48,501
638,562
506,595
597,082
508,920
963,254
971,516
966,643
1,346,326
759,824
752,942
821,387
616,579
489,160
529,137
940,450
1,038,409
1,289,623
954,930
1,218,122
2,754,003
2,734,187
4,628,208
4,490,942
4,814,877
4,604,274
5,004,913
5,402,151
3,850,713
4,137,890
3,714,498
3,597,884
3,834,490
5,761,987
6,308,102
6,643,096
6,763,845
6,693,336
6,505,724
7,472,853
8,429,609
7,059,508
7,809,932
9,984,485
8,995,139
II, 441,279
12,925,171
16,603,678
16,048,530
17,925,300
19,411,654
18,043,159
22,137,243
20,411,098
20,959,164
257,942,242
36,903,308
298,480,705
112,148
137,672
164,665
434,595
131,484
357, 472
312,589
371,719
504,318
472,582
495,077
663,707
500,706
945,787
944,504
1,065,902
832,860
853,457
734,233
1,583,678
1,776,006
1,208,523
2,741,331
3,919, 726
2,554,687
4,289,023,
3,810,105
2,232,541
3,439,730
6,941,962
44,532,789
4,716,422
5,142,585
5,566,816
4,285,308
4,269,374
4,071,970
3,910,473
4,206,209
6,266,305
6,780,684
7,138,173
7, 427,552
7,194,042
7,451,511
8, 417,357
9, 495,511
7,892,368
8,663,389
10,718,718
10,578,817
13,217,285
14,133,694
19,345,009
19,968,256
20,479,987
23,700,677
21,853,264
24,369,784
23,850,828
27,901,126
343,013,494
295
DIRECTOR OF M I N T .
The value and composition of bars issued for use in the industrial
arts by the Government institutions during the fiscal year 1910 were
as follows:
Gold.
Materials used.
Silver.
Weight.
Value,
F i n e ounces.
991,649,185
23. 776
533,997. 489
1,083.306
141,590. 605
Total.
$21,536,655,42
491, 50
10,063,275.82
22,766, 05
2,925,937.67
1,668,344.361
Domestic b u l l i o n . . .
U n i t e d States coin..
Foreign bullion
Foreign coin
Old m a t e r i a l
Refinery b a r s
34,549,126, 46
F i n e ounces.
2,029,845,71
1,033,642,87
5,667.10
347,319,75
27,728. 60
3,444,204.03
E X C H A N G E O F FINE GQLD BARS FOR GOLD COIN A N D GOLD BULLION.
The value of the fijae gold bars furnished to the trade in exchange
for gold coin and bullion, monthly by the United States Mint at
Philadelphia and assay office at New York, for the fiscal year 1910
was as follows:
E x c h a n g e d for gold coin.
Philadelphia,
1909.
July
August
:.
September
October
November...:...
December
New York,
Total.
$545,253. 37 $1,367,348.60 $1,912,601.97
619,032.08 1,952,052.34 2,571,084,42
563,362.94 2,418,518. 20 2,981,881.14
607,248.73 2,656,052.18 3,263,300.91
• 600,735. 38 2,198,803.73 2,799,539.11
351,628.25 1,754,317.54 2,105,945.79
E x c h a n g e d for gold b u l l i o n .
Philadelphia,
New York.
$20,058,87 $291,208. 92
24,526,51 234,898.36
19,616,85 276,870.00
27,398.'67 319,621,32
16,794.45 336,397.87
23,727.34 304,643,37
Total.
$311,267,79
259,424.87
296,486,85
347,019,99
353,192.32
328,370,71
1910.
January
February
March
April....
May.-.
June
Total
• 619,704. 76
695,343.51
734,134. 09
•734,457.92
720,538.73
582,243. 78
1,659,741,10
1,742,592.92
2,063,298.39
1,934,344.44
1,955,265.98
1,985,379,79
2,279,445.86 18,705, 71
2,437,936.43 15,517:86
2,797,432. 48 21,254,14
2,668,802. 36 30,087.05
2,675,804. 71 32,630. 84
2,567,623,57 28,877.56
322,445,04
304,661,03
313,240,17
311,414.68
260,704,31
299,055,70
341,150,75
320,178,89
334,494.31
341,501,73
293,335.15
327,933.26
7,37.3,683.54 23,687,715. 2131,061,398.75 279,195.85 3,575160, 77
3,854,356,62
THE WORLD'S INDUSTRIAL CONSUMPTION OF THE PRECIOUS METALS IN
1909.
This bureau estimates the world's consumption of the precious
metals in the arts during the calendar year 1909 as follows: Gold,
of the valueof $142,506,100, equivalent to 6,893,733 ounces, fine; and
silver, 104,838,200 ounces, fine, of the commercial value of $54,515,864.
In these estimates only new material is taken into account.
PRODUCT OF GOLD AND SILVER IN THE UNITED STATES IN 1 9 0 9 .
The detailed statistics of the product of gold and silver in theUnited
States for the calendar year 1909 are presented in a special report to
the Secretary of the Treasury.
296
REPORT ON T H E FINANCES.
The distribution of the product among producing States and Territories was as follows:
^
APPROXIMATE DISTRIBUTION, B Y PRODUCING STATES AND TERRITORIES, OF THE
PRODUCT OF GOLD AND SILVER IN THE UNITED STATES FOR THE CALENDAR Y E A R
1909.
[As estimated by the Director of the Mint.]
Gold,
State or Territory,
Alabama.
Alaska
Arizona
California
Colorado
Georgia
Idaho
Illinois
Michigan
Missouri
Montana
Nevada
New H'ampshire...
New Mexico
North Carolina
'Oregon
Pennsylvania
Philippine Islands.
Porto Rico
South Carolina
South Dakota
Tennessee
Texas
Utah
Virginia
Washington
Wyoming
Total
Fine
oimces.
Silver.
Value,
• 1,413
983,928
127,071
1,001,537
1,056,829
2,099
65,026
$29,200
339,600
626,800
703,600
846,600
43,400
344,200
10
181,411
792,682
200
750,100
386,200
12,229
1,519
. 40,103
300
11,978
29
358
317,998
208
19
203,818
194
20,753
189
4,821,701
Fine
ounces.
200
198,600
2,523,600
2,304,900
8,846,300
200
6,755,900
900
217,600
15,200
12,034,500
10,119,200
3,000
324,200
400
69,600
252,800
31,400
829,000
6,200
247,600
3,000
600
7,400
> 573,600
,
196,300
4,300
65,300
400
408,100
1,213,300 10,551,100
4,000
6,400
429,000
75,200
3,900
1,800
99,673,400
54,721,500
Commercial value.
$100
103,300
1,312,300
1,198,500
.4,600,100
100
3,513,100
500
113,100
7,900
0,257,900
5,262,000
1,600
168,600
200
36,200
1,600
102,100
. 33,900
212,200
5,486,600
3,300
39,100
900
28,455,200
WORLD S COINAGE.
In the appendix will be found a table, revised from the latest information received, exhibiting the coinages of the various countries of
the world during the calendaT years 1907, 1908, and 1909.
The figures in the following table represent, as nearly as this
bureau has been able to ascertain, the total value of, and the fine
ounces consumed in, the gold and silver coinages executed in the
world since 1873.
I t must be borne in mind, however, that the total of these coinages
does not correctly represent the amount of new gold and new silver
made into coins during the year, for the reason that the coinages as
reported include the value of domestic and foreign coins melted for
recoinage, as well as old material, plate, etc., used in coinage.
In the circular letter of inquiry prepared at this bureau and sent to
foreign Governments through the Department of State, asking for
information on these subjects, it was especially requested that each
country report the amount of such recoinages. This has been done
in many instances, but not in all.
297
DIRECTOR OP M I N T .
COINAGE OF GOLD AND SILVER OF THE MINTS OF THE WORLD BY CALENDAR Y E A R S
SINCE 1873,
Silver.
.Gold,
Calendar years.
F i n e ounces.
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
:
1887
:
1888..
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
...
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
..
12,462,890
6,568,279
9,480,892
10,309,645
9,753,196
9,113,202
4,390,167
7,242,951
7,111,864
4,822,851
5,071,882
4,810,061
4,632,273
4,578,310
6,046,510
6,522,346
8,170,611
7,219,725
5,782,463
8,343,387
11,243,342
11,025,680
11,178,855 .
9,476,639
21,174,850
19,131,244
22,548,101
17,170,053
12,001,537
10,662,098
11,634,166
22,031,285
11,898,037
17,721,058
19,921,014
15,828,573
15,153,116
.
:
...
.
,
.•
-
402,233,153
Total.
Value,
F i n e ounces.
Coining value.
$257,630,802
135,778,387
195,987,428
213,119,278
201,616,466
188,386,611
90,752,811
149,725,081
147,015,275
99,697,170
104,845,114
99,432,795
95,757,582
94,642,070
124,992,465
134,828,855
168,901,519
149,244,965
119,534,122
172.473.124
232,420,517
227,921,032
231,087,438
195,899,517
437,722,992
395,477,905
466,110,614
354,936,497
248,093,787
220.405.125
240,499,547
455,427,085
245,954,257
366,326,788
411,803,902
327,205,649
313,242,714
101,741,421
79,610,875
92,747,118
97,899,525
88,449,796
124,671,870
81,124,555
65,442,074
83,539,051
85,685,996
84,541,904
74,120,127
98,044,475
96,566,844
126,388,502
104,354,000
107,788,256
117,789,228
• 106,962,049
> 120,282,947
106,697,783
87,472,523
98,128,832
123,394,239
129,775,082
115,461,020
128,566,167
143,362,948
107,439,666
149,826,725
161,159,508
136,518,406
134,062,314
120,339,501
171,561,490
151,352,824
87,728,951
$131,544 464
102,931,232
119,915,407
126,577,164
114,359,332
161,191,913
104,888,313
84,611,974
108,010,086
110,785,934
109,306,705
95,832,084
126,764,574
124,854,101
163,411,397
134,922,344
. 139,362,595
152,293,144
138,294,367
155,517,347
137,952,690
113,095,788
126,873,642
159,540,027
167;790,006
149,282,930
166,226,964
185,358,150
138,911,891
193,715,362
211,795,829
176,508,646
173,333,093
155,590,466
221,816,876
195,688, 499
113,427,331
8,314,897,286
4,090,598,592
5,292,282,739
FOREIGN COINS MELTED BY VARIOUS COUNTRIES.
The foreign gold ancl silver coins melted b}^ the countries of the
world during the calendar 3^ears 1907, 1908, and 1909, so far as have
been reported to this bureau, are exhibited in the following table:
1907
1908
1909
Countries,
Gold.
Silver.
Gold,
U n i t e d States
Austria-Hungary
Great Britain
•Germany
...
India
Italy
Japan
.
Mexico
Peru
Portugal
Russia
Siam
Turkey
$12,330,623
207,274
$250,132
28,912
3,162,733
$3,767, C69
401,573
9,219,795
302,826
168,957
4,770,012
20,469
8,076,902
Total
31,477,363
3,949,768
11,836,823
438,845
8,519,193
4,990,384
Silver,
Gold,
$103,076
14,778
$147,413
11,345
400,997
1,338
Silver.
$19,268
285
1,114
2,146
2,435,637
4,093,714
633,418
34,870
5,955
9
324,543
299,408
260,312
60,785
150
16,981
343,811
298
REPORT ON T H E FINANCES..
UNITED
STATES GOLD COIN IMPORTED AND MELTED BY VARIOUS
COUNTRIES DURING THE CALENDAR YEAR 1 9 0 9 .
The following table shows the amount of United States gold coin
imported by various countries and the value of the United States
2:oid coin melted at their mints:
.
I m p o r t of T o t a l i m p o r t U n i t e d
United
of gold from
States
S t a t e s gold
Ufiited
gold coin
coin.
States,
melted.
Countries,
Austria-Hungary
Canada
Russia
Guatemala
Guiana (Dutch)
Haiti. ..
Venezuela
Japan
Great Britain
$11,345
.
.
....
$5,427,453
16,981
240,000
:..
30,000
400,000
611,742
4,710
. . .
..
....
16,981
4,992
1 $14,384,328
6,730,886
Total
14,384,328
33,318
1 Of this amount, $188,658 was British coin; $11,282,828 foreign coin; and the balance, $2,912,842, -was in
bullion.
RECOINAGES OP THE WORLD.
The following table, compiled from ofiicial sources, exhibits approximately the gold and silver recoinages in the principal countries
of the world for the calendar years 1907, 1908, and 1909,. so far as
has been reported to this bureau:
1907
1908
1909
Countries.
Gold.
United States. . •
Australia
Austria-Hungary
Belgium
Canada
France
:
Germany
Great Britain
India (British).
Italy
Japan
Mexico
Netherlands
..:
Norway
Peru
Portugal
Russia
Siam
Straits Settlements
Sweden
Switzerland
Turkey.:
Total
Silver. .
$3,072,960
3,474
1,610,137
$1,233,298
62,496
1,786,864
13,139,550
1,170,829
20,216,679
3,509,414
10,345,352
3,769,263
2,299,669
2,992,255
1,869,300
14,847
1,137
.9,314
2,782
1,620,440
1,309,429
1,017,395
10,767,000
Gold,
$5,321,467
1,631,393
1,448,904
Silver.
$977,211
5,189,278
69,858
2,256,230
16,059,450
3,110,555
589,058
1,347,083
7,864,560
1,797
3,944,363
989,486
3,011,463
• 9,836
41,534
Gold,
$2,704,802
914,941
3,388
1,444,379
4,933,160.
14,599,500
12,924
Silver.
$759,677
1,520
2,191,796
219,100
2,101,895
3,322,111
3,132,457
5,319,499
535,065
14,606
470,654
2,031,692
12,772
718
920,233
107
1,136
23,007
115,800
24,614,230
20,251,651
9,219,795
267,305
989,788
34,613
6,929,500
35,532
193,000
527,568
28,908,509
63,392,263
26,824,537
35,680,266
299
DIRECTOR OF M I N T .
VALUES OF FOREIGN COINS.
TREASURY DEPARTMENT, Octoher 1,1910.
I n pursuance of the pre)visions of section 25 of the act of August 28,
1894, I hereby proclaim the following estimate by the Director of
the Mint of the values of foreign coins to be the values of such coins
in terms of the money of account of the United States, to be followed in estimating the value of all foreign merchandise exported
to the United States on and after October 1, 1910, expressed in any of
such metallic currencies.
A. P I A T T ANDREW,
Acting Secretary.
VALUES OF F O R E I G N COINS,
Country.
Standard.
Monetary unit.
Value
in terms
of
United
States
gold
dollar.
Argentine Republic.
Gold.
Peso...
$0,965
Austria-Hungary
..do..
Cro^ATi.
,203
Belgium.
Boli via..Brazil
..do..
..do..
..do..
Franc
Boliviano.
Milreis
,193
,389
,546
B r i t i s h possessions,
North America (except Newfoundland).
Central
American
States:
Costa Rica
1,000
Coins.
Gold: Argentine ($4.824) and I argentine. Silver: Peso and divisions.
Gold: 10 and 20 cro^vns. Silver: 1 and
5 crowns.
Gold: 10and20francs. Silver: 5francs.
Gold: Silver boliviano and divisions.^
Gold: 5, 10, and 20 milreis. Silver:
^, 1, and 2 milreis.
.do...
Dollar..
.do...
Colon..
.465
British Honduras.. .do...
Guatemala
Honduras
-Silver.
Nicaragua
Salvador
Gold..
Chile
Dollar..
1.000
Peso...
.391
Silver: Peso and divisions.
....do.
.365
Amoy
Canton
Cheefoo
Chin Kiang..
Fuchau
Haikwan
(customs).
Hankow
Tael... J Kiaochow
Nankin
Niuchwang .
Ningpo:
Peking
Shanghai
Swatow
Takau
^Tientsin
(Hongkong...
Dollar.. < British
iMexican
..do
.641
,639
,613
,626
.'593
.652
Gold: Escudo ($1,825), doubloon
(.$3,65), and condor ($7.30). Silver:
Peso and divisions.
China.
Silver..
,599
.621
.634
.601
.616
.625
.585
.592
,645
,621
.421
,421
,424
1.000
Gold: 2, 5,10, and 20 colons ($9,307).
Silver: 5,10, 25, and 50 centimos.
Gold: Condor ($9,647) and double
condor. Silver: Peso.
Gold: 10 and 20 cro"wns.
Gold: 10 sucres ($4,8665). Silver:
Sucre and divisions,
1 Gold standard adopted Dec, 31, 1908, 12^ bolivianos equal the pound sterling or Peruvian pound
($4.866i).
Colombia..
Gold.
Denmark.
Ecuador..
.do.,
.do..
CrowTi.
Sucre..
.268
,487
300
REPORT ON T H E FINANCES.
VALUES OF F O R E I G N COINS—Continued.
Country.
Egypt
Standard.
Monetar}'^ unit.
...do
Mark
France
..do
Franc
Mark
Pound sterling
German Empire
GreatBritain
Greece... .'
...do
...do
...do
Haiti...
...do
Gourde.
India, British
...do
Pound sterling
Italy
...do
Lira
Japan
...do
Yen
Liberia
Mexico. .
...do
...do
Dollar
Peso 2
Netherlands..
...do
Florin
Newfoundland
Norway
Panama
...do
do
...do
Dollar
Crown..
Balboa
Peru
Drachma
Silver... Kran
Gold.... Libra
Philippine Islands
Portugal
Russia
.
...do
do
...do
Peso
Milreis.
Ruble
Spain
Straits Settlements
...do
...do
Peseta
!
Pound sterling
Sweden
Switzerland
Coins.
Gold: Pound (100 piasters), 5, 10, 20,
and 50 piasters. Silver: l,-2, 5, 10,
and 20 piasters.
.193 Gold: 20 marks ($3,859), 10 marks
($1.93),
.193 Gold- 5, 10, 20, 50, and 100 francs.
Silver: 5 francs.
:
.238 Gold: 5,10, and 20 marks.
4.866^' Gold: Sovereign (pound sterling) and
^ sovereign.
.193 Gold: 5,10, 20, 50, and 100 drachmas.
Silver: 5 drachmas.
Gold: 1, 2, 5, and 10 gourdes. Silver:
.965
Gourde and divisions.
I . . . Q . . . 4.866^ Gold: Sovereign (pound sterling).
Silver: Rupee and divisions.
Gold: 5,10,20,50, and 100 lire. Silver:
.193
5 lire.
.498 Gold: 5, 10, and 20 yen. Silver: 10,
20, and 50 sen.
1.000
Gold: 5 and 10 pesos. Silver: Dollar»
.498
(or peso) and divisions.
Gold: 10 florins. Silver: 2^, 1 florin.
.402
and divisions.
1.014
Gold: 2 dollars ($2,028),
. . . .268 Gold: 10 and 20 crowns.
1. 000 Gold: 1, 2h, 5, 10, and 20 balboas.
Silver: Peso and divisions.
Gold: ^, 1, and 2 tomans ($3,409).
.072
Silver: i, | , 1, 2, and 5 krans.
4.866^ Gold: h and 1 libra. Silver: Sol and
divisions.
.500 Silver peso: 10, 20, and 50 centavos.
Gold: 1,2,5, and 10 milreis.
1,080
Gold: 5, 7^, 10, and 15 rubles. Silver:
.515
5,10,15,20,25,50, and 100 copecks.
,193 Gold: 25 pesetas. Silver: 5 pesetas.
4
4.866^ Gold: Sovereign (pound sterling).
Silver: Dollar and divisions.
.268 Gold: 10 and 20 crowns.
.193 Gold: 5, 10, 20, 50, and 100 francs.
Silver: 5 francs.
Gold: 25,50,100,250, and 500 piasters.
.044
Gold: Peso. Silver: Peso and diviL034
sions.
.193 Gold: 5, 10, 20, 50, and 100 bolivars.
Silver: 5 bolivars.
Gold.... Pound (100 piasters).- $4.943
Finland
p^sia
Value
interms
of
United
States
gold
dollar.
.do . . Crown
Franc
..do
Turkey
Uruguay
...do
...do
Piaster...."
Peso
Venezuela
...do
Bolivar
1 The sovereign is the standard coin of India, but the rupee ($0.3244-^) is the current coin, valued at 15
to the! sovereign.
2 Seventy-five centigrams fine gold.
3 Value in Mexico, $0,498.
^ The current coinof the Straits Settlements is the silver dollar issued on Government account, and which
has been given a tentative value of $0.567758^.
NOTE.—The coins of silver-standard countries are valued by their pure-silver contents at the average
market price of silver, for the three months preceding the date of this circular.
301
DIRECTOR. OF M I N T .
CHANGES IN THE VALUE OF F O R E I G N COINS DURING
1910.
Value, 1910.
Countries.
Monetary u n i t .
Jan. 1.
Central Araerican States
China:
Do
Do .
Do
Do
Do
;
Do
.
Do
Do
Do
D'o
Do
Do
Do
Do
Do
Do
Silver peso
.
-
:
Do
Do
Do
Persia
:
:
$0,375
Silver tael, A m o y
. Silver tael, C a n t o n . .
Silver tael, Chefoo
Silver tael, C h i n k i a n g
Silver tael, F u c h a u
Silver tael, h a i k w a n (customs).
Silver tael, H a n k o w
Silver tael, K i a c h o w
Silver tael. N a n k i n
'Silver tael, N e w c h w a n g
Silver tael, N i n g p o
Silver tael, P e k i n g
Silver tael, S h a n g h a i
Silver tael, S w a t o w
Silver tael, T a k a u . :
Silver tael, T i e n t s i n
Silver dollar, H o n g k o n g
Silver dollar ( B r i t i s h )
Silver dollar (Mexican)
Silver k r a n
MONETARY
A p r . 1.
$0,378
J u l y 1,
$0,391
Oct. 1.
.$0,391
,615
,613
,588
,601.
.569
,626
•
,620
,019
,593
,606
,574
,631
.641
.640
.613
,627
,593
,653
,641
,639
,613
.626
,593
,652
,575
.596
.609
.577
.591
.599
.562
.568
.6.19
.596
.404
.404
.407
.069
,580
,601
,614
,582
,596
,605
.567
,573
.624
,601
,408
,408
.411
.070
,600
,622
,635
,601
,617
,625
,586
,592
,645
.622
.422
.422
.425
.072
,599
.621
.634
,601
,616
,625
,585
,592
,645
,621
.421
.421
,424
,072
LEGISLATION.
CHAP. 25.—An Act Prescribing certain provisions and conditions under which bonds and certificates of
indebtedness of the United States may be issued, and for other purposes.
Be it enacted hy the Senate and House of Representatives ofthe United States of America
in Congress assemhled. That any bonds- and certificates of indebtedness of the United
States hereafter issued shall be payable, principal and interest, in United States gold
coin of the present standard of value; and that such bonds may be issued in such
denominations as may be prescribed by the Secretary of the Treasury,
S E C 2. T h a t any certificates of indebtedness hereafter issued shall be exempt from
all taxes or duties of the United States, as well as from taxation in any form by or
under State, municipal, or local authority; and that a sum not exceeding one-tenth
of one per centum of the-amount of any certificates of indebtedness issued is hereby
appropriated, out of any money in the Treasury not otherwise appropriated, to pay
the expenses of preparing, advertising, and issuing the same.
S E C 3. That all acts or parts of acts inconsistent with the provisions of this act are
hereby repealed.
Approved, February 4, 1910,
CHAP. 240,—An Act To establish in the Department of the Interior a Bureau of Mines.
Be it enacted hy the Senate and House of Representatives of the Wnited States of America
in Congress assemhled. That there is hereby established in the Department of the
Interior a bureau, to be called the Bureau of Mines, and a director of said bureau, who
shall be thoroughly equipped for the duties of said office b y technical education and
experience and who shall be appointed by the President, b y and with the advice and
consent of the Senate, and who shall receive a salary of six thousand dollars per annum;
and there shall also be in the said bureau such experts and other employees as may
from time to time be authorized by Congress,
S E C 2. T h a t it shall be the province and duty of said bureau and its director, under
the direction of the Secretary of the Interior, to make diligent investigation of the
methods of mining, especially in relation to the safety of miners, and the appliances
best adapted to prevent accidents, the possible improvement of conditions under
which mining operations are carried on, the treatment of ores and other mineral substances, the use of explosives and electricity, the prevention of accidents, and other
inquiries and technologic investigations pertinent to said industries, and from time to
time make such public reports of the work, investigations, and information obtained
as the Secretary of said department may direct, with the recommendations of. such
bureau.
«
302
REPORT ON T H E FINANCES.
S E C 3. That the Secretary of the Interior shall provide the said bureau with furnished offices in the city of Washington, with such books, records, stationery, and
appliances, and such assistants, clerks, stenographers, typewriters, and other employees
as may be necessary for the proper discharge of the duties imposed by this act upon
such bureau, fixing the compensation of such clerks and employees within appropriations made for that purpose.
S E C 4. That the Secretary of the Interior is hereby authorized to transfer to the
Bureau of Mines from the United States Geological Survey the supervision. of the
investigations of structural materials and the analyzing and testing of coals, lignites,
and other mineral fuel substances and the investigation as to the causes of mine explosions; and the appropriations made for such investigations may be expended under
the supervision of the Director of the Bureau of Mines in manner as if.the same were
so directed in the appropriation acts; and such investigations shall hereafter be within
the province of the Bureau of Mines, and shall cease and determine under the organization of the United States Geological Survey; and such experts, employees, property,
and equipment as are now employed or used by the Geological Survey in connection
with the subjects herewith transferred to the Bureau of Mines are directed to be transferred to said bureau.
S E C 5. That nothing in this act shall be construed as in any way granting to any
officer or employee of the Bureau of Mines any right or authority in connection with
the inspection or supervision of mines or metallurgical plants in any State.
S E C 6. This act shall take effect and be in force on and after the first day of July,
nineteen hundred and ten.
Approved, May 16, 1910.
MONETARY STATISTICS OF FOREIGN COUNTRIES.
The statistics of the production and coinage of the precious metals,
imports and exports or gold and silver, amount of bank and Government notes both covered and uncovered of the different foreign countries published annually in the reports of this bureau are obtained
directly from the Governments of such countries by the representatives of the United States accredited to them.
A copy of the interrogatories covering the points on which information is sought from the Governments of foreign countries is sent yearly
to the United States ambassadors and ministers through the Department of State, and the replies, in the form of reports, are forwarded
directly to the Bureau of the Mint. The interrogatories sent are as
^follows:
1. What was t h e amount of gold and silver coinage by denominations and number
of pieces during the calendar year 1909 (new coinage and domestic and foreign
recoinage.
2 (a). Was any coinage executed at your mint for other Governments during the
year 1909? If so, state character and amount of same.
2 (6). Was any coinage executed at foreign mints for your Government? If so,
state character and amount of same.
3. What was the. estimated weight of fine gold and silver used in the industrial arts
during the calendar year 1909?
4. What was the total import of United States gold coin and what amount was
deposited and melted at the mints during the year 1909?
5. What was the weight, expressed in kilograms, fine and the value of the gold and
silver produced from the miiles of the country during the calendar year 1909? Give
the product of the colonies of the country, naming them separately.
6. What, approximately, was the stock of gold and silver coin and bullion in the
country on December 31, 190.9? Give stock in public treasuries and banks and in.
circulation, separately.
7. What was the amount of Government and bank notes outstanding at the end of
the year 1909, and what amount was not covered by gold coin and bullion and legaltender silver coin held for their redemption?
8. Is gold at premium as compared with the actual currency of the country? If so,
what is the actual currency?
9. Were any laws passed during-the year 1909 affecting the coinage, currency, or
banking? If so, please forward copies of the same.
DIRECTOR OF MINT.
303
10. Is there a report published on the operations cf the mint? If so, please forward a copy; also, a report of the Department of Mines.
11 (a). What was the im^port and export of gold during the calendar year 1909; the
value of coin, bullion, and ore to be given separately and by countries?
11 (6). What was the icaport and export of silver during the calendar year 1909;
the value of coin, bullion, and ore to be given separately and by countries?
12. Please examine the appended description of the coins of your country, bringing it down to date with corrections?
The foregoing report, covering the operations of the mints and assay
offices of the United States for the fiscal 3^ear ended June 30, 1910, is
respectfully submitted.
G E O . E . ROBERTS,
Director of the Mint.
Hon. FRANKLIN MACVEAGH,
Secretary ofthe Treasury.
APPENDIX TO REPORT OF
No.
1.—DOMESTIC PRODUCTION, DEPOSITS, AND PUKOHASES OP GOLD, BY
1
Alabama
Alaska
3 Arizona
4 California
5 Colorado
6 Georgia
7 Idaho.
R Marvland
q Michigan
10 M o n t a n a
11 N e v a d a
N e w Mexico
P
13 N o r t h Carolina
14 Oregon
IS S o u t h Carolina
16 Sotith D a k o t a
17 Tennessee
IS T e x a s
19 U t a h . •
'>0 Virginia
Washington
99
Wyoming
9-:^ P h i l i p p i n e Islands
9,|
P o r t o Rico
9(1
Other
29
30
?1
32
33
34
35
36
37
38
30
'IO
'11
/)9
43
'14
'I'l
46
New
Orleans.
Denver.
Stand, oz.
Stand, oz.
1.279
24.385
29.213
438,319
Stand, oz.
341,379,604
28,536.365
258,177.572
44.501
3.064
55.234
ii,527
28,112
190.113
69,462.763
123,598
5i9.566
39.506
7.450
Stand, oz
30,299
1,272.597
18,031,519
8,167,975
36,632
995,874
.
Ill,550
831,890
16,960,425
4,946,363
82.289
2,476,934
705,302,542
235,465,993
9.594
55.073
*
120.130
.
188,018
136,231
138.129
.
.iil
14,019
87,928
6,260,909
62,831
3.540
570.632
23,487
37,194
32.697
Total domestic
Domestic refinery bars
Domestic bullion refined
New York.
7,085.823
639,807
11,733,139
274. 673
265,458.984
55.489
'>!
26
San Francisco.
521,466
150.216
282,139
60.106
408.845
252.040
9
97
9S
Philadelphia,
Stand, oz.
Locality a n d description of
deposits.
604.746
302,795.065
269,495,540
465,149. 448
196,511,597
18,412.033 1,684,080.997
1,095,981,601
Total domestic bullion
Domestic coin, m u t i l a t e d . . .
Domestic coin, transferred..
Foreign bullion u n r e f i n e d . . .
Foreign bullion refined
Foreign coin
Jewelers' bars, old.plate, e t c .
S u r p l u s bullion
Deposit melting-room grains
Grain bar, N e w Y o r k
Slag from D e a d w o o d
Recovered, e m b e z z l e m e n t . .
R e c o v e r y from refinery pipes
Gain on m u t i l a t e d coin purchased.
2,476,934
9,213,914
118,999,010
3,093,229
1,801,284,143
932, 699
69,480
41,864.838
604,746
2,130,150
786,356.546 2,150,088.134
23.800
46,156.298
40,288.749
281,021
67,405.447
1,392.289
89,983
216,828
15,038,909
8,664.765
2.660
65.401
154.544
3,757,836
192.521
22.489
218,648 • 187,162.593
501,865,171
6,291,978
211,505.325
3,755,753
306,439
189,129
295,130
Total d e p o s i t s . . . . . . . .
203,169,855
1,867,922.895
12,456,946
11,875,930
1,067,603.825
411,676,474
404,947,336
9.073
404,947,336
554,175
Redeposits:
F i n e bars
Mint b a r s . .
U n p a r t e d bars
...
48,325
24.385
58,504
1,200
Total redeposits
1,091,936.701
411,723,931
'IS
Total
1,295,106,556
2 279 646.826'
790,981,529 3,103,364.629
545.102
47,457
47
304
47,151,035
47 l.iil 03.'^ 1,195,928,865 3,103,918,804
DIRECTOR OF THE MINT.
W E I G H T , AT MINTS AND ASSAY OFFICES DURING THE
Carson.
Boise,
Helena.
Charlotte. St, Louis.
Deadwood,
FISCAL Y E A R
Seattle,
1910.
Salt L a k e
City.
Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz.
5.258
306. 441
573,273.975
210. 002
20. 321
73, 042
9.874
6.651
22.383
6,819,444
105. 630
19. 215
43.190
64: 435
562. 086
1,139. 969 1,483. 730
31,696, 353
629. 039
,254
,
63,122, 679
217. 592
. 47.147 14,576.856
,424
125. 431
89. 034 102,758. 457
2. 605
67. 901
7,088
563, 295
746. 386
10,885,585
59,362
92, 849
36,290.096
2.470
24. 983
30,845, 286
30, 023
11. 205
116, 550
827. 442
474. 818
36. 386
45, 225
2.015
Total.
Stand, oz.
36,836
917,721, 640
58,496, 977
274,288,135
265,727,063
. 973,995
36,252.239
.254
,171
104,244.063
164,467. 966
11,338.382
1,145. 632
18,816.662
100. 299
271,814.048
24. 983
3, 540
31,469, 428
48, 399
1,721,814
172. 617
147, 723
55, 073
167, 370
1
9.
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
?0
21
?,?,
23
24
?5
70,015,165 42,892.534 104,074.921 1,30.5.155 •453,102 36,326.482 576,330.428 47,162, 695 2,159,235,309 26
3,291,024 4,445. 838
669,397,907 9 1
2,813,749.542 28
15,274.911
70,015.165 42,892.534 104,074,921 4,596,179 20,173. 851 36,326,482 576,330.428 47,162, 695 5,642,382.758 2 9
12. 707
16,129. 693
74,600. 2181 30
1.020
119,068.490 31
65,206.862
3,275
255.166
338,093.360 32
7,241.036
509,106. 207 33
4.023
21,780.870 34
id 395
1,059.280
343, 388
13, 640
154, 633 2,352. 540
299,123. 902 35
111, 295
1,893.909 36
2.521
10, 252
135. 771
7,936
19, 867
. 1,048.123 37
22, 589
18, 018
169. 037
216. 828 38
48. 325 39
24. 385 40
58. 504 41
1.200 42
~
70,185, 222 42,915,123 104,214,629 4,761. 064 38,913.771 36,359.989 649,990,107 47,517, 294 7,007,447,142 43
20,179
13,049,505 44
11,875,930 45
1,884,256,887 46
20,179
1,909,182,322 47
70,185, 222 42,915,123 104,234,808 4,761, 064 38,913. 771 36,359.989 649,990,107 47,517, 294 8,916,629, 464 48
65872°—FI 1910-
-20
305
306
REPORT ON T H E FINANCES.
No.
2 . — D O M E S T I C PRODUCTION, DEPOSITS, AND P U R C H A S E S OF GOLD, BY
Locality a n d description of deposits.
1
9
3
4
fi
7
s
q
10
n
1'?
13
14
1^
16
17
IS
19
'>0
'?!
99
9S
9,1
>^
'
Alabama
Alaska
Arizona
'.
California
Colorado
Georgia
Idaho
'...
M a r y l a n d ."
Michigan
Montana
Nevada
N e w Mexico
.•
N o r t h Carolina
Oregon
S o u t h Carolina
:
South Dakota
Tennessee
Texas
Utah
Virginia
Washington..:
Wvominsf
P h i l i p p i n e Islands
P o r t o Rico
Other
Philadelphia.
San F r a n cisco.
S9,701. 69 $6,351,248.45
2,794. 72
530,909.12
5,249.10 4,803,303.66
1,118. 25
827. 93
7,606. 42
57. 00
4,689.12
1,027.61
326. 08
3,536. 99
523. 01 1,292,330. 47
2,299. 50
9,665. 23
131,829,27
735.00
138. 60
New
Orleans.
$23.80
453. 67
543. 50
8,154, 77
'
2,075,35
Denver,
$11,903. 39
218,290. 96
5,110.19
4,938,771. 80
New York.
$563, 70
23,676, 23
335,470,12
151,962. 33
681. 53
Carson
City.
$1,358,93
126,873.41
18,527,89
15,477, 03
315,542.80
92,025.35
3.18
260. 82
1,635. 87 1,174,375. 42
116,482.03
1,168. 95
1,032.36 4,380,762.66
436. 97
691. 98
608. 32
65.86
10,616. 41
1,530. 95
3,498.01
2,534,53
2,569.84
178. 50
1,024.62
2,234. 97
46,082.49 13,121,907,76 11,251, 09 5,633,396,58 5,013,870.54 1,302,607.76
8,653,943. 21 3,656,029.73
20,390,355, 36
342,549, 45 31,331,739, 50
26
97
9S
Total d o m e s t i c . . .
D o m e s t i c , refinery b a r s .
Domestic bullion, refined.
29
30
Total domestic...
46,082.49 33,512,263.12 11,251,09 14,629,889. 24 40,001,639,77 1,302,607,70
17,352.54 39,630, 67
. 442,82
171,421. 65
858,721.82
Domestic coin, m u t i 18,98
lated.
1,292. 65
Domestic coin, trans- 2,213,935. 05
ferred.
57,548. 44
778,880,71 749,558,12
Foreign bullion, unre4,067,87 3,482,094, 76
fined.
Foreign bullion, refined.
9,337,020:44
Foreign coin
279,793. 72 2,875. 24
5,228. 29
117,060.06
161,204,93 69,913. 23
69,874,47 3,934,.982, 79
Jewelers' bars, old p l a t e , 1,254,054.82
• etc.
\
49.49 3,581. 79
25,903.05
Surplus b u l l i o n . . . :
5,701,19
1,674.10
1,216,75
Deposit, m e l t i n g room,
5,490,79
3, i44.87
3,518, 68
418. 40
grains. .
Grain, bar, N e w Y o r k . .
4,034,01
Slag from D e a d w o o d
899, 06
Recovered, embezzle453,68
ment.
Recovery from refinery
1,088,45
pipes.
22, 33
Gain on m u t i l a t e d coin
purchased.
31
^?,9
33
34
35
36
37
3S
?0
'10
41
^9
43
Total d o m e s t i c . . . 3,779,904,23 34,752,053.91 877,228. 54 14,715,935,46 57,737,016,43 1,305,77L61
Redeposits:
F i n e bars
Mint bars .
U n p a r t e d bars
882. 92
231,757.13
220,947.53
19,862,396.75 7,659,097, i9
7,533,903, 93
168,80
47
Total r e d e p o s i t s . . 20,315; 101. 41 7,659,980,11
7,533,903,93
10,310.23
'IS
Total
44
'I'i
46
10,141.43
24,095,005. 64 42,412,034. 02 877, 228. 54 22. 249.8.39. .39 57.747. .'^26 fifi 1,305;77L61
'
DIRECTOR OF M I N T .
V A L U E AT M I N T S AND ASSAY OFFICES DURING THE
Boise.
Helena.
Charlotte. St. Louis,
Deadwood,
307
FISCAL Y E A R
Seattle.
Salt L a k e
City,
$97.82
$3,907.01
$10,665,561.27
183,70
416,43
803,53
$5,701.23
X
357,49
10,457,41
$589^699.58
^
-
.
-
.
•
•
'
$378,07
123.74
1,965.21
1,198. 79
.
2i,268,72 27,604.28
11,703.06
4,73
_----
/
2,333,60
1,656,44 1,911,784.93
48,46
1,263.26
131.87
4,048,22
877,15 271,197.32
7.89
10,479,91
13,886,25
202,522.51
1,104. 41
1,727.42
$675,164,57
45.95
464,80
558,56
•
573,865.78
. 208,47
2,165,50
15,394.27
8,833,81
•
676.95
1910,
Total.
$685.32
17,073,889.94
1,088,315,86
5,103,035,10
• 4,943,759,32
18,120,83
674,460.26
4,73
3 IS
1,939,424^11
3,059,869,11
210,946. 64
21,314.09
350,077.44
1,866.02
5,057,005,54
464.80
65,86
585,477,72
900, 45
32,030,86
3,211.48
2,748,34
1,024. 62
3,113,86
1
9
3
4
5
6
7
8
q
10
11
\9
13
14
^'^
16
17
18
19
''O
21
99
?3
24
25
841,40
37,49
J97,997,72 1,936,277.27
24,281,96
61,228.35
8,429,81
82,713,26
284,184,39
675,841.52
10,722,425.49 877,445.49
797,997,72 1,936,277,27
85,510.31 375,327.46
300,087.31
675,841.52
10,722,425,49 877,445.49 104,974,558,-73 29
1,387,912.20 30
236,41
40,171,815,48 26
12,453,914.55 27
52,348,828,70 ?8
2,215,227.70 31
4,747,27
1,213,150,93
193.39
2,070,59
420.25
2,877,20
43,767.88
254,46
134,716,95
74.85
19,707,53
335.22
190.74
46.96
369.62
2,527,10
60.93
6,290,109,03 32
. 9,471,743.39
405,225.55
6,388.76
5,565,096,66
35,235.52
147, 65
19,501,13
33
34
35
36
37
4,034,01 38
899,06 39
453.68 40
1,088.45 41
22.33 42
798,417,97 1,938,876.47
88,578.25 723,976,88
676,465, 60
242,781,48 44
220,947.53 45
35,055,942.09 46
375.42
35,519,671.10 47
375.42
798,417,97 1,939,251.89
12,092,839.26 884,042.83 130,371,107,44 43
88,578,25 723,976,88
676,465.60
12,092,839,26 884,042.83 165,890,778,54 48
308
REPORT ON T H E FINANCES.
No,
a n d description
deposits.
'>?
94
'>5
Alabama
Alaska
Arizona
California
.. .
C'Olorado
Georgia
. .
Idaho
Maryland
Michigan
Montana
Nevada
N e w Mexico
N o r t h Carolina
»Oregon
S o u t h Carolina
South Dakota
Tennessee
Texas
Utah
Virginia*
Washington
Wyoming
P h i l i p p i n e Islands
P o r t o Rico
Other
-
'>6
97
9S
Total domestic
D o m e s t i c refinery bars
Domestic bullion refined
of
^
fi
7
s
q
10
11
1''
13
11
15
16
•(7
IS
10
'^0
'^l
99
Philadelphia.
San Francisco,
N e w Orleans,
Denver.
N e w York,
Stand, oz.
Locality
1
9
3
4
3 . — D O M E S T I C PRODUCTION, DEPOSITS, AND P U R C H A S E S OF SILVER,
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
14.12
' 234.77
7,576.97
951.16
3.23
50,38
72.00
51.77
15.56
78.86
1,059,48
16,751,24
1,.39
19,83
149,82
3,44
,61
4i,822.66
10,525,11
53,175,17
3.76
.22
10. 55
27.02
34,659. IS
39.69
3.68
10.35
100,64
33i.i7
3,552.27
37.42
300,408.85
452.95
251,82
135.30
5,988.49
13,787,37
1,283.73
9.33
74,732.36
,13
2,729,63
1.01
2.90
25.20
20,138.98
1.59 1
48.55
260,522.09
9,04
63.13
• 164.81
10,08
2.37
56,59
36.43
13.59
....
18,296,07
141,647.00
366,49
327,607.80
22,403,94
364,291,82^
67,822.66
486,887,15
141,647.00
167.56
30,089.59
366. 49
153.05
61,412.90
350,011,74
29,71
919,001,63
39,393,44
17,997,16
1,377,87
876,358.32
247,660,21 1
1,543,938,45
2.88
8,383.47
14,972.27
2, .547.05
36.03
4,487,32
1,515.89
15.93
3,i64.i7
1,051.47
'120,26
404,886,47
29,314,53.
T o t a l domestic b u l l i o n . .
Doraestic coin m u t i l a t e d
31 Domestic coin transferred
' p T r a d e dollars
33 • Foreign bullion unrefined
S4 Foreign bullion refined
'^5
'
36 Foreign coin
37 P h i l i p p i n e assay coins
38 Jewelers' b a r s , old plate, e t c . . .
?q S u r p l u s bullion
40 Deposit m e l t i n g room g r a i n s . . .
'11 Grain b a r , N e w Y o r k
\"> Slag from D e a d w o o d
'13 Recovered, e m b e z z l e m e n t
44 Gain on m u t i l a t e d coin purchased.
47,610. 00
1,937.56
51.5,851.98
159. 21
95,391.68
T o t a l deposits
739,681,90
1,772,794.27
373,586,34
1,602,382,99
78,6.54,47
80,061,90
7,94
80,061,90
103,814,13
29
45
'16
47
dS
Redeposits:
F i n e bars
Mint bars
U n p a r t e d bars
114.40
2,268.88
75,802,67
i78. 45
359.82
667,28
57,23
1,66
6,65
94,332.21
355,754,11 2,454,767,00
103,806,19
. . .
dO
Total redeposits
1,975,969.33
78,654,47
"iO
Total
2,715,651,23
1,851,448:74
6,193,09
94,332.21
435,816.01 2,558,581.13
DIRECTOR OF M I N T .
309
BY W E I G H T , AT MINTS AND ASSAY OFFICES DURING THE FISCAL Y E A R
Carson,
Boise,
Stand.oz.
Stand, oz.
5.50
922.53
15,355.83
32,410. 53
Helena, Charlotte. St. Louis.
Deadwood.
Seattle,
1910.
Salt L a k e
City.
Total,
Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz. Stand, oz.
0.58
62.03
74,735.78
23,45
2.56
2.87
1,58
3.42
35,49
27.92
2.82
48,48
88.19
294,43
149, 50
206.86
. ,02
8.39 63,558,13
,80
38. .38
.74
36.26
Stand, oz.
14,70
117,271,32
21,741.15
55,277,60
300,510. 62
167.27
17,529,60
,02
30,890.22
63,814,71
89,681,17
274,349.90
290.30
5,769.61
11.77
124,941,99
L31
,13
3,178,77
4.22
726,98
16,04
38,80
56.59
27.61
46, 63
26.31 16,237. 28
.01
131,44
4,249.04
178.94
54.46
11.16
50,199,81
,49
1.31
,75
447.38
1.32
24.88
351,13
97,83
5.96
13.83
.19
1
9
3
4
5
6
7
s
q
10
11
p
13
14
15
16
17
18
iq
9^
21
2^
?3
24
25
19,678. 01 63,829,71
33,338.56
19,678.01 63,829,71
247.85
264.27
101.30 50,205.77
44.71
75,667,92 .17,034.10
1,112,312.40
90,535. bS
510,201.68
26
91
?8
512.12
146.01 50,205.77
75,667,92 17,034.10
1,719,049.66
2,287.88
607,354.47
159.21
1,043,718.15
247,660,21
1,543,938.45
14,706. 50
. 2,268.88
505,265. 52
5,114.41
1,344.70
359.82
57,23
1,66
6.65
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
5,693,293.40
45
•
.33,338.56
103,806.19
373,586.34
1,761,112.75
46
47
48
2,238,505,28
49
7,931,798,68
50
13,149.48
49,46
,74
12.66
60,43
131.31
33,469,87
26.64
12.66
19,704.65 63,915.46
47.66
1.75,
561.53
1,251,61
17,70
391.62
243,60
4,23
23.27
120.05
6.84
1,451,31 50,246,74
89,329.07 17,285.28
5.45
5.45
33,469,87
19,704.65 63,920.91
561.53
1,451,31 50,246,74
89,329.07 17,285.28
310
REPORT ON T H E FINANCES.
No,
4 . — D O M E S T I C PRODUCTION, DEPOSITS, AND P U R C H A S E S OF SILVER,
Locality a n d description of
deposits.
1
9
3
4
5
6
7
S
q
10
11
T?
13
14
15
16
17
18
10
90
''1
Alabama
Alaska
. .
Arizona
California
Colorado
Philadelphia.
$58,62
83:78
60,24
18,11
91,76
. 1,232.85
25
^fi
V
28
T o t a l domestic
Domestic refinery bars
Domestic bullion refined
29
30
31
39
33
34
35
?6
37
38
39
40
41
p
43
44
T o t a l domestic b u l l i o n . . .
Domestic coin m u t i l a t e d
Domestic coin t r a n s f e r r e d . . . . .
T r a d e dollars
Foreign bullion unrefined
Foreign bullion refined
P h i l i p p i n e coins . .
Foreign coin
P h i l i p p i n e assay coins
Jewelers' b a r s , old p l a t e , e t c . . .
S u r p l u s bullion
Deposit m e l t i n g room g r a i n s . . .
Grain b a r . N e w Y o r k
Slag from D e a d w o o d
Recovered, e m b e z z l e m e n t
Gain on m u t i l a t e d coin p u r chased.
'>']
45
46
47
4S
N e w Orleans.
....
Idaho
Maryland
Michigan
Montana
Nevada
N e w Mexico
N o r t h Carolina
Oregon
S o u t h Carolina
South Dakota
Tennessee
Texas
Utah
Virginia
Washington
Wyoming
P h i l i p p i n e Islands
P o r t o Rico
Other
99
9-^
San F r a n cisco.
$4,28
12.04
117.11
$48,665,60
12,247,40
61,876.56
4.38
,26
12.28
i74,34
4,00
.71
31.44
40,330.68
46,18
•
3.38
29.32
293,03
157.44
0,968,42
16,043.48
23,434. 45
1.85
56.49
303,152.98
10.52
86,961,29
,15
3,176,30
191.78
11.73
73,46
• 2.75
65,85
42.39
15.81
21,289,97
381,216.34
26,070,05
55,401.42
2,254.62
600,264.12
- 185.26
111,001.23
133.12
2,6,40.17
88,206.74
207.65
418,69
423,903; 20
78,920,92
566,559,59
164,825,60
426,46
164,825,60
194.98
35,013.34
426,46
178.09
71,462.28
407,286.39 1,069,383,71
34.58
1,603.33 1,019,762,41
288,186,43
34,111,45
45,839.64
20,942.14
1,796,582.92
3.35
9,755.31
17,422.28
2,963.84
41,92
5,221.61
1,763.94
18.52
7,206,51
3,612.13
1,223.53
139,94
471,140.62776.47
66.60
1,93
7,74
860,720,76
2,062,887,87
434,718,65
i . . . 1,864,591,11
91,525.20
93,162.93
9,24
93,162.93
120,801,89
109,768,35
413,968,43 2,856,456,15
120,792,65
T o t a l redeposits
2,299,309,76
91,525.20
50
Total
3,160,030,52
2,154,413.07
No.
109,768,35-
507,131,36 2,977,258,04
5 . — B A R S MANUFACTURED OF GOLD AND
SILVER,
Philadelphia.
San F r a n cisco.
s t a n d , oz.
466,761.327
Stand, oz. Stand, oz. Stand.oz. Stand, oz.
Stand, oz.
774.138 2,011,113,772
488,579.626 1,001,804
51,904,776
103,213
886,204,640 70,i85,222
466,761,327
Description.
488,682.839 1,001.804
:
T o t a l gold
$16,43
273,19
8,816,84
1,106,80
3.76
1,493,79
49
T o t a l silver
$385.36
•4,133.54
43,54
349,566,67
527,07
1,18
....
Total deposits
Silver:
Fine bars
Mint bars. .
Unparted bars
New York.
10.86
19,492.35
1.62
23,08
.'.
Redeposits: .
F i n e bars
Mint b a r s
Unparted bars
Gold:
Fine bars
Standard bars
U nparted b ars..
Denver.
1,819,513,87
:.
26,955,18
New
Orleans,
26,979,22
New York.
774.138 2,949,223,188
Carson,
70,185,222
1,433.79
2,927,11
674,317.94
373,586.34
1,481,161,21
33,469 .'57
1,433,79
2,927,11 2,529,065,49
33,469.57
24.04
1,819,513,87
Denver,
DIRECTOR OF M I N T .
311
BY VALUEJ!?, AT M I N T S AND ASSAY OFFICES DURING THE FISCAL Y E A R
, Carson.
Boise.
Helena. Charlotte,
St.
Louis, D e a d w o o d .
Salt L a k e
City.
Total.
.
$0,67
$27,29
$6.40
Seattle,
1910.
S86> 965,27
3,34
3,98
32,49
1,073.49
3.28
240,71
102,62
$17,868,60
173,96
.02
9,76' 73,958,55
44,66
,93
,86
37,714,07
.42.19
.. .
54.26
30.61 18,894.29
,01
152,95
4,944,34
208,22
12.99
$58,414,32
63,37
,57
1.52
,87
520.59
1. 54
28,95
113,84
1
$17,10
136,461,17
25,298,78
64,323,01
349,685.10
194.64
20,398,08
,02
42,926,80
74,257,11
104,356.26
319,243,51
337,81
6,713,72
13,70
145,387,04
1.52
,15
3, 698,94
4,92
845,94
18,67
45,14
65,85
32.12
$2.98
1.84
41,29
56,41
342. 61
$72.18
408.59
6,94
3
4
6
6
7
8
q
10
11
12
13
14
15
16
17
18
iq
"^O
?1
23
?,2
24
25
26
27
28
9
16.09
.22
38,793,96
22,898.04 74,274,57
288.40
307. 51
117,87
52,03
58,421.26
88,049-94 19,821.49
1,294,327,10
105,350,51
600,671,04
38,793.96
22,898.04 74,274,57
595.91
169,90
58,421,26
88,049.94" 19,821.49
2,000,348,65 29
2, 662,27 30
706,739,74 31
185,26 32
1,214,508,37 33
288,186. 43 34
1,796,582. 92 35
17,113.02 36
2,640.17 37
587,945.34 38
5,951.31 39
1, 564.72 40
418.69 41
66.60' 42
1,93 43
7.74 44
15,301.21
57,55
,86
14,73
55,46 1,456,42
152.80
30.99
14,73
20,60
455.70
283,46
4,92
27,07
139,70
7.97
653.41 1,688,79
70,32
58,468,93
2,04
"
38,946.76
22,929,03 74,374,35
6.34
38,946,76
BY
22,929.03 74,380,69
WEIGHT,
653,41 1,688.79
DURING THE FISCAL Y E A R
58,468,93
Helena.
Charlotte.
St. Louis,
Deadwood.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
42,915,123 .
46
47
48
4q
9,229,729,28
50
1910,
Boise.
42,915,123
103,946,55 20,113,78
45
2,604,806,12
6,34
6, 624,923,16
120,792,65
434,718,65
2,049,294,82
103,946,55 20,113.78
Seattle,
Salt L a k e
City.
Total.
Stand, oz. Stand, oz.
7,241.036
104,214,629 •
4,761,064 38,913,771
36,359,989
Stand, oz.
2,975,471.703
51,904.776
642.734.855 47,517,296 1,873,909.802
104,214,629
4,761.064 38,913,771
36,359,989
649,975.891 47,517,296 4,901,286,281
19,704,65
63,915.46
- 561, 53
1,451,31
50,246.74
89,228,71
17,285.08
2,525,147,89
373,586,34
1,757,048.30
19,704,65
63,915,46
561, 53
I,45L31
50,246,74
89,228,71
17,285.08
4,655,782.53
312
REPORT ON T H E FINANCES.
No.
Description.
Gold:
Fine bars..
Standard bars
Unparted bars
T o t a l gold
6 . — B A R S MANUFACTURED OF GOLD AND SILVER,
Philadelphia.
San F r a n cisco.
Denver.
New York.
Carson
$8,683,931 70 $9,089,853 50 $18,638 21 $14,402 57 $37,416,070.17
965,670 25
16,487,528 18 $1,305,771.61
1,920 24
8,683,931.70 9,091,773 74 18,638.21 14,402 57 54,869,268.60 1,305,771 61
Silver:
Fine bars..
Mint bars
Unparted bars
2,117,252.50
T o t a l silver.
2,117,252.50
Total value.
New,
Orleans.
31,366 03 ,1,668 41
3,400 09
784,660.88
434,718.65
1,723,533 04
38,946.76
3,406 09 2,942,912 57
38,946.76
27 97
31,394 00
1,668.41
10,801,184.20 9,123,167.74 20,306.62 17,808.66 57,812,181.17 1,344,718.37
No.
7 . — C O I N A G E OF THE MINTS OF THE
Philadelphia.
San Francisco.
-Description.
Pieces.
Gold:
D o u b l e eagles
Eagles.
Half eagles
Q u a r t e r eagles
Value.
Pieces.
Value.
143
172
26,182
122,274
$2,860.00
1,720.00
130,910.00
305', 685.00
423,925
1,001,100
1,067,400
$8,478,500.00
10,011,000.00
5,3.37,000.00
148,771
441,175.00
2,492,425
23,826,500.00
Silver:
Half dollars
Q u a r t e r dollars
Dimes
1,808,785
5,232,785
6,990,785
904,392.50
1,308,196.25
699,078.50
2,306,000
768,000
1,153,000.00
192,000.00
T o t a l silver.
14,032,355
2,911,667.25
3,074,000
1,345,000.00
17,055,638
144,241,529
852,781.90
1,442,415.29
4,368,000
43,680.00
Total m i n o r
161,297,167
2,295,197.19
4,368,000
43,680.00
Total coinage
175,478,293.
•5,648,039,44
9,934,425
25,215,180.00
T o t a l gold
Minor:
Five-cent nickels
One-cent bronze
In addition to'the above, the mint at San Francisco made for the Philippine Government 6,074.758 silver
and 1,500,000 bronze pieces.
313
DIRECTOR OF M I N T .
BY V A L U E , DURING THE FISCAL Y E A R
Boise,
Helena.
1910.
St, Louis,
Charlotte,
Deadwood.
Salt L a k e
City.
Seattle.
Total.
$798,420,85 $1,938,876.47
.$88,577,94 $723,977.12
$134,716,95
$55,357,613.10
965,670,25
$676,464. 9i 11 957,856.72 $884,042.83 34,863,436,87
798,420,85
1,938,876.47
88,577,94 723,977.12
676,464.91 12,092,573. "67 884,042.83 91,186,720.22
22,929.03
74,374.35
22,929. 03
74,374.35
821,349.88
2,013,250. 82
053.41
653. 41
.58,468. 92
1,688.79
2.938,353.91
434 718.65
2,044,565.58
103,829.77
20,113.54
5,417,638.14
1910.
Denver.
N e w Orleans.
' Value.
20,113. 54
7.34,933.83 12,196,403. 44 904,156.37 96,604,358.30
89,231.35 725,665. 91
U N I T E D STATES DURING THE FISCAL Y E A R
Pieces.
103,829.77
58,468.92
1,688.79
Pieces.
Total.
Value.
Pieces.
Value,
750
2,232,040
195,160
$1.5,000.00
22,320,400.00
. 975,800.00
424,818
3,2.3.3,312
• 1,288,742
122,274
$8,496,360,00
32,333,120.00
6,443,710.00
305.685.00
2,427,950
.23,311,200.00
5,069,146
47.578,87,5.00
162,000
4,000
40,500.00
400. 00
4,114,785
6,162,785
6,994,785
•
166,000
40,900.00
17,272,355
4,297,567,25
17,055,6.38
148,609', 529
852,781,90
1,486,095,29
2,057,392.50
1,540,696,25
699,478.50
165,665,167
2,593,950
23,352,100.00
2,338,877,19
188,006,668
54,215,319,44
314
No.
REPORT ON T H E FINANCES.
8 . — M U T I L A T E D AND U N C U R R E N T DOMESTIC GOLD AND
Philadelphia,
Denominations.
SILVER COINS T R A N S
DURING THE
S a n Francisco.
Received
from
Treasury.
Received
from
Treasury.
Purchased,
$420,320.00
688,540,00
1,111,015,00
. 18,00
10,015.00
39.00
$40,480.00
39,290.00
89,525.00
57.00
3,562. 50
138.00
$1,140.00
70.00
85.00
T o t a l gold, face v a l u e . 2,229,947.00
173,052.50
Purchased.
N e w Orleans.
Received
from
Treasury.
Purchased.
GOLD.
D o u b l e eagles
Eagles
Half eagles . .
Three-dollar pieces
Q u a r t e r eagles
Dollars
.
$10,500.00
2,560.00
4,625.00
3,00
87,50
2.00
$7,340,00
10,150,00
22,265.00
1,295.00
17,777.50
40,094,50
19,000.00
12,000.00
L20
9,000.00
128.40
154.00
47.00
2.40
31.40
2.15
$34,950.00
19,010.00
337,50
2,00
SILVEE.
T r a d e dollars.
S t a n d a r d dollars
Half d o l l a r s . .
Q u a r t e r dollars
T w e n t y - c e n t pieces
Dimes
Half dimes
Three-cent nieces
...
229,876.00
208,094.00
109.00
249,807.30
688.10
62.70
183.00
841.00
586.00
640.75
373, 40
8.85
.72
28,530.00
10. 00
107,00
39,50
31, 25
i i , 80 1
,15
. 688,637.10
2,633. 72
40,129. 60
236.95
82,500.00
189,70
Stand, oz.
118,999.010
515,851,98
T o t a l sil ver, face value.
Stand, oz.
9,213,914
2,096.77
Stand, oz.
69. 480
30,089.59
Stand, oz.
932. 699
167. 56
Stand, oz.
Stand, oz.
2,130,150
153. 05
$2,213,935.05 $171,42L65
2,608,73
641,806.51
$1,292.65
37,436.50
$17,352. 54
208. 47
$76,407.96
1,630.85
21.99
2.35
2,693.10
424. 96
28.48
6,092.04
SUMMARY.
Gold coins .
Silver coins
Gold, coining v a l u e
Silver, s u b s i d i a r y v a l u e
Loss, gold
Loss, silver
Gain, silver
Loss, net, silver
16, o n . 95
46,830.59
i
61,412.90
$39,630.67
190. 42 1
463,83
,72
315
DIBECTOE OF M I N T .
FERRED FROM THE TREASURY AND PURCHASED OVER THE COUNTER FOR RECOINAGE
FISCAL Y E A R 1910.
Seattle.
New York.
Carson.
St. Louis,
Purchased. Purchased,
Purchased.
Puchased, Purchased.
$127,080,00
257,440,00
472,895,00
24,00
8,740,00
51,00
$20.00
866,230,00
20,00
Denver,
$160.00
80,00
225.00
12.50
477,50
Total.
Received
from
Treasury.
Purchased.
$421,460,00
688,610,00
1,111,100.00
18,00
10,015.00
39.00
$253,440,00
388,600', 00
745,340,00
84.00
13,130,00
195.00
$674,900,00
1,077,210,00
1,856,440,00
102.00
23,145,00
234,00
2,231,242.00 1,400,789,00
3,632,031,00
283,826.00
239,104.00
110.20
287,337.30
826.50
62.70
183,00
961.00
799.50
720.50
2.40
410.60
11.15
.72
183,00
961,00
284,625,50
239,824,50
112,60
287,753,90
837,65
63,42
811> 266,70
3,094.87
814,361,57
Stand, oz.
119,068,490
607,354.47
Stand, oz.
.74,600,281
2,447,09
Stand, oz. .
193,668.771
609,801.56
$236,41 $2,215,227.70 $1,387,912.20
3,044.58
755,650.97
$3,603,139.90
758,695.55
12,876,80
50,47
3,14
47.29
28,891.10
55,666.20
3,14
55,663,02
$67,800,00
79,010,00
155,705,00
$60,00
70.00
100.00
370.00
2.00
20.00
302,887.00
250,00
13,00
20,00
1,50
^
34.50
Stand, oz.
23,800
29,71
Total.
Stand, oz. Stand, oz. Stand, oz.
46,156,298
1,020 16,129.693
$442.82
36,96
$858,721.82
$18,98
$300,087.31
34,68
7,508.18
.02
2,799.69
2.46
Stand, oz.
12.707
13,59
16,014.30
•55,615,73
55,615.73
316
REPORT ON T H E FINANCES.
No°. 9 . — A S S E T S AND LIABILITIES OF THE U N I T E D
ASSETS,
Silver bullion.
Gold bullion.
Institutions,
Quantity.
Coinage m i n t s :
Philadelphia
San Francisco
P h i l i p p i n e coins for recoinage..
N e w Orleans
Denver
.
Assay offices:
New York
Carsou
Helena
Boise
St, Louis
""
Charlotte
Deadwood
Seattle
Salt L a k e City
".
Total
. . . .
Value.
Quantity,
V a l u e (cost).
$2,585,170.66
446,621.24
,27
' 137,577,72
302,916,25
Stand, oz:
1,701,079,566
2,219,134,997
$31,647,991,93
41,286,232.48
193,634,651
209,422,769
. 3,602,505.06
3,896,237.56
Stand, oz.
3,688,276,27
874,850.56
,30
173,546. 26
656,766.34
1,195,293,123
4,634,548
3,041,148
2,392,503
2,232,972
22,238,011.60
86,220.19
56,579.45
44,511,70
41,543.63
312,617.77
3,067.74
, 2,771.21
1,652.12
119.51
160,338,43
1,470,84
1,330,05
793,02
57,22
13,061.82
1,378,029.40
58,591.09
1,076.63
10,764.98
169.96
524,21
5,167.09
81; 25
104,349,515,91
5,725,679.65
3,642,048.25
702,034
74,069,082
3,149,272.
5,608,786,665
LIABILITIES.
Institutions,
Coinage m i n t s :
Philadelphia ...
San Francisco
N e w Orleans
Denver
Assay offices:
New York
Carson..
Helena
Boise
St. Louis
Charlotte
Deadwood
Seattle.
Salt L a k e City
Total.
Bullion
fund.
Undeposited
earnings.
$441,257,798,87
118,344,715,58
36,830,634,32
395,494,184,83
$22,466,92
27,519,628,21
304,408,56
142,159,70
81,834.07
61,044.88
21,451,68
129,353,28
2,858,561,42
275,347,58
61,239,80
1,023,321,122.98
87,623..43
Seigniorage on
silver.
$144.42
77,579. 75
U n p a i d deposits.
$14,577.56
721.75
73.79
569.70
172.21
144.47
34,44
65,54
3,343.14
156.91
20.67
,
77,724.17
15,963,47
317
DIRECTOE OP M I N T .
STATES M I N T S AND ASSAY OFFICES J U N E 30,
1910.
ASSETS,
Gold coin.
Silver coin.
Credit w i t h
Assistant
Treasurer,
depository . Minor coin.
banks, and
in currency.
$300,285,862.80 $106,762,418, 56
61,621,800,12
12,031,020,00
$2,622,907.38
1,634,475,40
385,148,298,95
31,181,256.51
4,162,625.03
3,640. 54
Deficiencies.
$37,748.18
3,692.30
2,204.12
274,893. 42
1,984,107.04
29,750.00
$1,103,088.05
30,155.37
Minor
coinage
metal.
5,183,087.68
107,777.24
84,422.41
36,673.82
19,478.47
21,451.68
115,832. 79
1,348,728.74
216,832.15
130,000,00
699,259,407,15
203,731,740.76
12,016,192.82
$13,543.82 $442,435,824,00
415,259,68 118,457,688,57
2,204 39
36,830,708.11
395,494,184.83
75,549,75
1,133,243.42
43,644.60
Total.
27,581,437.71
304,408 56
142,331.91
81,978.54
61,079.32
21,45L68
129,418. 82
2,861,925.23
275,504. 49
504,353.25 1,024,680,146,16
LIABILITIES.
Minor coinage
profits.
$395,192. 59
22,287,67
Minor coin m e t a l
fund.
$160,000.00
11,560,00
U n p a i d cent
, deposits a n d
subtreasury minor
coin transfers.
G o v e r n m e n t of t h e
P h i l i p p i n e Islands.
$585,643, 64
$3,028,21
Total,
$442,435,824,00
118,459,892.96
36,830,708.11
395,494,184.83
27,581,437.71
304,408. 56
142,331,91
81,978,54
61,079.32
21,451.68
129,418.82
2,861,925,23
275,504, 49
417,480,26
171,560,00.
3,028.21
585,643,64
•
1,024,680,146,16
318
REPORT ON T H E
No.
FINANCES.
1 0 . — E A R N I N G S AND E X P E N D I T U R E S OF THE U N I T E D STATES
EARNINGS AND GAINS.
Mints.
Items.
Philadelphia.
San F r a n cisco,
$83,233.18
2,240.19
$67,654.12
4,524. 22
1,700,380.54
Seigniorage on m i n o r coinage
1,875,505.38
2,498. 35
Seigniorage o n recoinage of m i n o r c o i n s .
3,009.99
Profits on m e d a l s a n d proof coins
Charges received for m o u n t i n g , e t c , , m e d a l fund .
249. 63
account
.»
1,979.79
Charges .for t h e m a n u f a c t u r e of m e d a l s , etc
2,657.13
Deposit melting-room grains a n d sweeps
25,903. 05
S u r p l u s bullion recovered b y operative o f f i c e r s —
Gain on b u l h o n s h i p p e d t o m i n t for coinage
1,399.72
Proceeds sale of old m a t e r i a l
Receipts from special assays of bullion a n d o r e . . .
308. 00
Receipts for m a n u f a c t u r i n g appliances for Govern14,142. 48
m e n t a n d other institutions
- .
Charges received for coinage for P h i l i p p i n e Government
Gain on hght-weight U n i t e d S t a t e s gold coin for
220. 26
recoinage
•.
A m o u n t received i n excess of assay v a l u e of M a n d
R sweeps sold
•
Charges for t r e a t m e n t of d e p o s i t melting-room
650,43
sweeps
Bullion recovered from cleaning refinery pipes
Bullion a n d c u r r e n c y recovered a c c o u n t of embezzlement
:
41,830.82
Receipts from sale of b y - p r o d u c t s
Charges for tlie m a n u f a c t u r e of proof gold a n d silver.
98.00
742,580. 66
3^, 242. 50
3,756,372.94
917,514. 27
N e w Orleans.
Charges for p a r t i n g a n d refining
Charges for alloy
Charges for assaying a n d s t a m p i n g .
Total
1,233.36
1,349. 79
92.81
$3,760.18
88.45
Denver.
$58,175.16
2,388. 96
25,723. 89
425. 69
4,278. 93
3.22
551. 57
15.82
4,030.23
6,186,15
sis, is
9,00
60,836.81
157,45
1,088,45
818, 77
9,123.86
99,396,19
$27,300. 00
21,270,80
$37,958, 06
90,719, 69
•EXPENDITURES AN.D LOSSES,
Salaries of officers a n d clerks
Wages of w o r k m e n a n d adjusters
Contingent expenses less a m o u n t t o r e i m b u r s e
wastage a n d loss on sweeps sold
P a r t i n g a n d refuiing expenses less a m o u n t to reimburse wastage a n d loss on sweeps sold . .
W a s t a g e of the operative d e p a r t m e n t s
W a s t a g e of the operative d e p a r t m e n t s , m i n o r coinage operations
Loss on sweeps sold d u r i n g t h e year
E x p e n s e s of d i s t r i b u t i n g m i n o r coins
E x p e n s e s of m e d a l fund (charges p a i d , m o u n t i n g ,
etc) .
Loss on recoinage of m i n o r coin
Loss on bullion s h i p p e d t o m i n t for coinage
Total
$43,550,00
385,569,75
$40,824.46
194,679. 91
58,217, 69
46,818.50
6,892.81
22,244. 30
68,849.13
1,824.77
77,260.10
3,05L51
2,628, 72
29,819.98
799,81
1,597. 48
832. 24
20,189. 92
1,966,68
59. 51
766, 07
337.56
364,660, 73
58,858,40
249. 63
14,028.54
594,909.15
181,879.40 1
319
DIEECTOE OF M I N T .
M I N T S AND ASSAY OFFICES FOR THE FISCAL Y E A R
1910.
EARNINGS AND GAINS.
Assay offices.
N e w Y o r k , Carson,
Helena,
Boise.
Charlotte. St. Louis.
Deadwood.
Seattle,
SaltLake
City.
$29,427.27
5,570,80
$1,652,58 $2, .588,13 $1,017.20
'
$116.02
$530.78
$906.43 $15,203,23 $1,121.52
•
8,771,51
3,079.61
79.76
1,898,00
3,395.50
341,16
871.63
191.56
1,148,97
75,00
160,00
482.93
25,00
1.00
891.32
192.15
34.05
378.00
330.40
48.88 1,305.04
2,583,77
151.42
85.51
24.70
149.00
1,520,21
30.45
51,00
235.97
134.00
Total.
$242,249.91
14,812.62
23,135.89
2,468,685.09
1,914,747,88
2,498 35
3,069.99
249,63
1,979.79
26,006.88
40,797.53
4,584.98
3,112.49
3,434.22
14,142.48
60,836.81
220 26
457,82
457.82
807.88
1,088.45
818.77
41,836,82
98,00
49,284,77
6,432.05
3,438,22 3,110.55
• 911.78
799.17 2,385.17 19,394.66
1,508.91 4,869,672.54
EX'PENDITURES AND LOSSES.
$36,918.75 $6,000.00 $5,450.00' $3,400,00 $2,750.00 $2,383.34 $3,200.00 $8,993:06 $7,100.00
997.22 3,865.00 28,314.10 4,434.00
840.00
31,180.16 5,598.00 13,267,50 8,150.00
7,832.97
3,352.35
3,124.24
2,272.20
622.04
361.76
564.17
5,191,29
3,537,12
$225,827,67
788,886.19
161,031.44
62,378,09
240,936,08
5,676,09
1,010,20
1,597,48
4,912.75
20,249,43
"
76.09
139,396.26 14,950.35 21,841.74 13,822.20
4,212,04
249,63
14,028,54
76.09
3,742.32 7,629.17 42,498,51 15,071,12 1,463,471.39
320
REPORT ON T H E FINANCES.
No. 15.—RECAPITULATION OF IMPORTS AND EXPORTS OF GOLD AND SILVER DURING
THE Y E A R ENDING J U N E 30, 1910,
GOLD.
Exports.
Description,
Total,
Imports.
Domestic.
$12,918,827
23,537,092
$568,386
27,672 014
2,050,563
4,833,423
86,329 314
43,339,905
In ore and base bullion
Bullion, refined
Coins:
United States
Foreign
:
Foreign.
$568,826
27,672,014
86,329,314
3,993,501
114,569,714
3,993,501
118,563,215
$798,063
52,112,478
$5;222
1,731,221
$803,285
53,843,699
2,236 842
1,168 047
Total
$3,993,501
$29,726 209
12,086 096
•.
184,026
45,217 194
53,094,567
SILVER.
In ore and base bullion
Bullion, refined
Coins:
United States
• Foreign .
Total
.
. . . . .
455,851 •
•
2,192,294
184,026
455,851
55,286,861
N o . 1 6 . — T R A N S I T AND TRANSSHIPMENT OF GOLD AND SILVER IN THE CUSTOMS
DISTRICTS OF N E W Y O R K AND ARIZONA^ DURING THE Y E A R ENDING J U N E 30,1910.
GOLD.
Countries from which received and to which
shipped.
Received from—
France
United Kingdom—Ens'land.
Mexico
West Indies:
British
Haiti
Colombia ...
Bullion,
refined.
$20,135
$40,285
910
579,502
21,045
78,402
1,220
1,710
498,170
21,045
579,502
Foreign
coin.
$386,000
23,600
52,090
1,800
485,327
21,045
Total
Shipped to—
France
Germany
Italy
United Kingdom—England.
Cuba
Colombia
Total
. In ore.
1 No transactions occurred in other customs districts.
Total gold.
$386,000
23,600
60,420
52,090
1,800
486,237
409,600
1,010,147
386,000
23,600
78,402
1,220
1,710
519,215
386,000
23,600
409,600
1,010,147
321
DIEECTOE OP M I N T .
No, 1 6 . — T R A N S I T AND TRANSSHIPMENT OF GOLD AND SILVER IN THE CUSTOMS
DISTRICTS OF N E W Y O R K AND ARIZONA DURING THE Y E A R ENDING J U N E 30,
1910—Continued.
SILVER.
Countries from which received and to which
shipped.
(
Bullion,
refined.
In ore.
Received from—
United Kingdom—England
Mexico
West Indies:
British
Cuba. Colombia
Foreign
coin. ,
$10,000
11,064
Total gold.
$10,000
5,082,513
$40,640
445
798
21,064
6,722,061
1,595,580
1,220,527
3,842,725
282
6,507
14,557
1,602,087
1,220,527
3,884,608
14,839
. 41,883
N O . 17.—SEIGNIORAGE
6,659,114
41,883
Total
10,350
1,562,934
55,021
41,883
Total
Shipped to—
France
Germany.
United Kingdom—England
Mexico.
$5,030,809
6,659,114
21,064
6,722,061
10,795
1,562,934
55,819
ON THE COINAGE OF SUBSIDIARY SILVER AND DISTRIBUTION
OF THE
SAME DURING THE FISCAL Y E A R
Balance and seigniorage.
1910.
Balance deposited by the mints in the Treasury.
Balance on hand July 1,1909:
Philadelphia
$1,596,82
Seigniorage on subsidiary silver:
Philadelphia
$1,700,380,54
San Francisco
742,580.66
Denver
25,723,89
• 2;468,685,09
Philadelphia.
. Total....
San Francisco.
Total.
Denver
$253,618,77
732,518,26
243,596.84
247,285.70
131,123.82
93,689,55
65,273.24
301,511.39
104,177,05
194,039,23
$1,701,832.94
665,000,91
25,723,89
Amount deposited in Treasury 2,392,557.74
Balance on hand June 30,
1910:
Philadelphia
$144.42
San Francisco
77,579.75
77,724.17
Total.
2,470,281.91
Total
2,470,281.91
The net seigniorage on silver coined since July 1,1878, including the balance on hand at the mints on that
date, to July 1,1910, was $159,935,840,70.
65872°—FI 1910-
-21
322
No.
REPORT ON T H E FINANCES.
1 3 . — A V E R A G E P R I C E OF AN O U N C E OF GOLD IN LONDON AND
V A L U E IN U N I T E D STATES SINCE 1870,
,
Average L o n don price.
Calendar years.
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880 •
1881
1882
1883
1884
1885
1886
1887
1888 .
1889
1890
1891
1892
1893 .
1894
1895...'
1896
1897
1898
1899
1900
1901
1902
1903 .
1904
1905
1906
1907
1908
1909
.
:
-
:
•
.
:.
:
No.
'
. . .
-...
,.
•
Equivalent
v a l u e in
U n i t e d States
gold coin of
a n ounce of
gold, B r i t i s h
standard
(0.916§).
V a l u e in
United States
gold coin of
a n ounce
1,000 fine.
£ .9." d.
3 17 9.01
3 17' 9.01
3 17 9.24
3 17 9.28
3 17 9.00
3 17 9.23
3 17 9.30
3 17 9.42
3 1 7 9.41
3 17 9.11
3 17 9.15
3 17 9.35
3 17 9.43
3 17 9.18
3 17 9.32
3 17 9.17
3 17 9.10
3 17 9.01
3 17 9.21
3 17 9.04
3 17 9.44
3 17 10.29
3 17 10.17
. 3 17 10.57
3 17 9.33
3 17 9.03
3 17 10.16
3 17 11.23
3 17 10.46
3 17 9.27
3 17 9.91
3 17 9.83
3 17 9.55
3 17 10.06
3 17 9.94
3 17 9.42
3 17 9.82
3 17 9.95
3 17 10.19
3 17 9.18
$18.9187
18.9187
18.9233
18.9241
18.9185
18.9231
18.9246
18.9270
18.9268
18.9207
18.9215
18.9256
, 18.9272
18.9221
18.9250
18.9219
18.9205
18.9187
18.9227
18.9193
18.9274
18.9446
18,9422
18.9503
18.9256
18.9191
18.9420
18.9637
18.9481
18,9240
18.9371
18.9356
18.9300
18.9404
18.9380
18.9272
18.9355
18.9381
18.9429
18:9224
$20,638
20.638
20.643
20.644
20.638
20.643
20.64520.647
20.647
20.640
20.641
20.646
20.647
20.642
20.645
\ 20.642
20.640
20.638
20.642
20.639
20.648
20.666
20.664
20.673
20.646
20.639
20.664
20.688
20.670
20.644
20.658
20.657
20.650
20.662
20.659
20.648
20.657
20.660
20.665
20.642
3 17 10.50
3 17 9.00
18.9491
18.9185
. 20.671
20.638
P e r cent
premium
above Bank
of E n g land's minim u m rate.
0.00106
.00106
.02571
.03000
.02431
.03215
.04501
.04394
.01178
.01607
.03751
. .04607
.01920
.03429
.01821
.01071
.00106
.01804
.00428
.04715
.13826
.12542
.16826
,03747
,00324
,12433
, 23901
,15648
.02936
.09870
.09078
.05951
.11570
.10337
.04639
.09008
,10359
,12935
.02062
.
,16208
1 9 . — B U L L I O N VALUE OF THE SILVER DOLLAR [371J G R A I N S OF P U R E SILVER]
AT THE A N N U A L A V E R A G E P R I C E OF SILVER EACH Y E A R FROM 1837.
Calendar y e a r .
1837
1838
1839
1840
1841
18421
1843
1844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
. . .
M i n t price
B a n k p r i c e . -.
EQUIVALENT
:
Value
Calendar year.
Value.
Calendar year.
$1,009 1856
$1,039
1875
1.008
1857.
1.046
1876.....
1.023 P1858
1.039
1877. •
1.023
1859.....:....
1.052
1878
1.018
1.045
1879..
1860.:
1.007
1.031 .
1861
1880
1.003
1862
1.041
1881..
1.008
1.040
I882I
1863
1.004
1.040
1864 .
1883
1.005
1.035 . 1884
1865
1.011
1.036
1866
1885
1.008
1.027
1867
1886
1.013
1.025
1868
1887
1.018
1,024
1869
1888
1,034
1.027
1870
1889 .
1.025
1.025
1871
1890
1,042
1.022 > 1891
1872
1,042
1.00368 1892
1873
1,039
,98909 1893
1874
Value
$0.96086
,90039
.92958
,89222
, 86928
.88564
,87575
,87833
,85754
,85904
,82379
.76931
,75755 1
.72683
.72325
,80927
,76416
,67401
,60351
Calendar year.
Value.
1894
1895
1896
1897.1898
1899 .
1900
1901..
1902
1903
1904
1905
1906 .
1907
1908
1909
$0 49097
.50587
,52257
,46745
,45640
,46525
,47958
.46093
40835
,41960
,44763
. 47200
,•52353
.51164
,41371
40231
" .
323
DIEECTOE OF M I N T .
N o . 2 0 « — P R O D U C T OF GOLD AND SILVER IN THE U N I T E D STATES FROM 1792 TO 1844
AND A N N U A L L Y S I N C E .
[The estimate for 1792-1873 is by R. W, Raymond, commissioner, and since by the Bureau of the Mint,]
Gold.
.
Silver.
Calendar years.
F i n e ounces.
1792 t o J u l y 31, 1834
J u l y 31,1834, t o Dec, 31, 1844
1845
1846
•
1847
F i n e ounces.
Commercial
value.
677,250
362,812
48,762
55,341
43,005
$14,000,000
7,500,000
1,008,000
1,140,000
889,000
Insignificant.
193,400
38,700
38,700
38,700
$253,400
50,200
50,300
50,600
1,187,170
24,537,000
309,500
404,500
10,000,000
40,000,000
50,000,000
• 55,000,000
60,000,000
65,000,000
60,000,000
55,000,000
55,000,000
55,000,000
50,000,000
50,000,000
46,000,000
43,000,000
39,200,000
40,000,000
46,100,000
53,225,000
53,500,000
51,725,000
48,000,000
49,500,000
50,000,000
43,500,000
36,000,000
38,700
38,700
38,700
38,700
38,700
38,700
38,700
38,700
38,700
38,700
38,700
77,300
.116,000
1,546,900
3,480,500
6,574,200
8,507,800
8,701,200
7,734,400
10,441,400
9,281,200
9,281,200
12,375,000
17,789,100
22,236,300
50,500
50,700
50,900
51,700
51,300
52,200
52, 200
52,000
52,000
52,400
52,000
105,100
156,800
2,062,000
4,084,800
8,842,300
11,443,000
11,642,200
10,356,400
13,866,200
12,306,900
12,297,600
16,434,000
23,588,300
29,396,400
58,279,778
1,204,750,000
118,568,200
157,749,900
1,741,500
1,620,122
1,619,009
1,931,575
2,268,662
2,477,109
1,881,787
1,741,500
1,678,612
1,572,187
1,451,250
1,489,950
1,538,373
1,686,788
1,603,049
1,604,478
1,594,775
1,588,877
1,604,840
1,597,098
1,739,323
, .1,910,813
2,254,760
2,568,132
. . . .*
2,774,935
3,118,398
3,437,210
.'...
3,829,897
3,805,500
3,870,000
3,560,000
3,892,480
4,265,742
4,565,333
4,374,827
4,574,340
4,821,701
36,000,000
33,490,900
33,467,900
39,929,200
46,897,400
51,206,400
38,900,000
36,000,000
34,700,000
32,500,000
30,000,000
30,800,000
31,801,000
34,869,000
33,136,000
33,167,500
32,967,000
32,845,000
33,175,000
33,015,000
35,955,000
39,500,000
46,610,000
53,088,000
57,363,000
64,463,000
71,053,400
79,171,000
78,666,700
80,000,000
73,591,700
80,464,700
88,180,700
94,373,800
. 90,435,700
•
94,560,000
99,673,400
27,650,400
28,868,200
24,539,300
29,996,200
30,777,800
35,022,300
31,565,500
• 30,318,700
33,257,800
36,196,900
35,732,800
37,743,800
39,909,400
39,694,000
41,721,600
45,792,700
50,094,500
54,516,300
58,330,000
63,500,000
60,000,000
49,500,000
55,727,000
58,834,800
53,860,000"
54,438,000
54,764,500
57,647,000
55,214,000
55,500,000
54,300,000
57,682,800
56,101,600
56,517,900
56,514,700
52,440,800
54,721,500
93,654,932
1,936,017,400
•1,718,992,800
1,408,347,400
153,121,880
3,165,304,400
1,837,870,500
1,566,501,800
Total
1848
1849
1850
1851
1852
1853.. 1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
1866....1867
1868
1869
1870
1871
1872
. . .
•
483,750
1,935,000
2,418,750
2,660,625
2,902,500
3,144,375
2,902,500
2,660,625
2, 660,625
2, 660,625 .
2,418,750
2,418,750
2,225,250
2,080,125
1,896,300
1,935,000
2,230,087
2,574,759
2,588,062
2,502,196
2,322,000
2,394,562
2,418,750
2,104,312
1,741,500
.
"
^
...
.
.
-
-
:
Total
1873
1874
1875
1876...
1877
18781879
1880
1881
1882
1883
1884
1885
1886.
1887
1888. •
1889
1
1890
1891
1892.
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904.
1905
1906
1907
1908
1909
Value.
•
. .
•
-
-
i
- . -
•
•
.
.
Total
G r a n d total
'
.
^
35,881,600
36,917,500
30,485,900
34,919,800
36,991,500
40,401,000
35,477,100
34,717,000
37,657,500
41,105,900
39,618,400
41,921,300
42,503,500
39,482,400
40,887,200
43,045,100
46,838,400
57,242,100
57,630,000
55,662,500
46,800,000
31,422,100
36,445,500
39,654,600
32,316,000
32,118,400
32,858,700
35,741,100
33,128," 400
• 29,415,000
29,322,000
33,456,000
34,222,000
38,256,400
37,299,700
28,050,600
28,455,200
324
REPORT ON THE FINANCES.
N o . 2 1 . — P R O D U C T OF GOLD AND SILVER IN THE WORLD SINCE 1860.
[The annual production of 1860 to 1872 is obtained from 5-year period estimates, compiled by Dr. Adolph
Soetbeer. Since 1872 the estimates are those of the Bureau of the Mint.]
Silver.
Gold.
Calendar 3
Fine ounces.
Value.
Fine ounces.
6,486,262
5,949,582
5,949,582
5,949,582
5,949,582
5,949,582
6,270,086
6,270,086
6,270,086
6,270,086
6,270,086
5,591,014
5.591,014
1861
1862
1863
186 4
186 5
186 6
186 7
1868
1869
187 0
187 1
187 2
Total
187 3
187 4
187 5
187 6
187 7
187 8
187 9
188 0
1881
1882
188 3
188 4
188 5
188 6
188 7
188 8
188 9
1890
189 1
189 2
189 3
189 4
189 5
189 6
189 7
1898
1899
1900
190 1
190 2
190 3
190 4
190 5
190 6
190 7
1908
190 9
$134,083,000
122,989,000
122,989,000
122,989,000
122,989,000
122,989,000
129,614,000
129,614,000
129,614,000
129,614,000
129,614,000
115,577,000
115,577,000
29,095,428
35,401,972
35,401,972
35,401,972
35,401,972
35,401,972
43,051,583
43,051,583
43,051,583
43,051,583
43,051,583
63,317,014
63,317,014
78,766,630
1,628,252,000
547,997,231
4,653,675
4,390,031
4,716,563
5.016,488
5,512,196
5,761,114
5,262,174
5,148,880
4,983,742
4,934,086
4,614,588
4,921,169
5,245,572
5,135,679
5,116,861
5,330,775
5,973,790
5,749,306
6,320,194
7,094,266
7,618,811
8,764,362
9,615,190
9,783,914
11,420,068
13,877,806
14,837,775
12,315,135
12,625,527
14,354,680
15,852,620
16,804,372
18,396,451
19,471,080
19,977,260
21,430,438
21,982,713
1860
96,200,000
90,750,000
97,500,000
103,700,000
113,947,200
119,092,800
108,778,800
106,436,800
103,023,100
101,996,600
95,392.000
101,729,600
108,435,600
106,163,900
105,774,900
110,196,900
123,489,200
118,848,700
130,650,000
146,651,500
157,494,800
181,175,600
198,763,600
202,251,600
236,073,700
286,879,700
306,724,100
254,576,300
260,992,900
296,737,600
327,702,700
347,377,200
380,288,700
402,503,000
412,966,600
443,006,200
454,422,900
63,267,187
55,300,781
62,261,719
67,753,125
62,679,916
73,385,451
74,383,495
74,795,273
79,020,872
86,472,091
89,175,023
81,567,801
91,609,959
93,297,290
96,123,586
108,827,606
120,213,611
126,095,062
137,170,919
153,151,762
165,472,621
164,610,394
167,500,960
157,061,370
160,421,082
169,055,253
168,337,453
173,591,364
173,011,283
1.62,763,483
167,689,322
164,195,266
172,317,688
165,054,497
184,206,984
203,236,861
211,215,633
Total
355,009,351
7,338,694,800
4,726,294,043
Grand total
433,775,981
8,966,946r 800
5,274,291,274
325
DIRECTOR OF M I N T .
N O . 2 2 . — C O I N A G E OF N A T I O N S .
1907
1908 '
1909
CouD tries.
Silver.
Gold,
$131,907,490
U n i t e d States
Philippine Islands
Austria-Hungary
4,605,184
Belgium
Bolivia
I
Brazil .
40,962
British E m p i r e :
52,772,229
Australasia
Canada
British E a s t Africa...
British H o n d u r a s
Ceylon
Cyprus
Newfoundland
Great B r i t a i n
100,011,442
Guiana (British)
Hongkong
India
. . . .
Straits S e t t l e m e n t s . . .
Sarawak
Chile
90,867
China
Colombia
Danish West I n d i e s . .
Denmark .
Egypt
Finland
France
75,261,788
F r e n c h colonies:
Indo-China
266
Tunis
Germany
15,925,915
Colony of G e r m a n E a s t
Africa
Honduras
Italv
Japan
8,944,080
Korea
10,632,152
Mexico
Montenegro
".
Netherlands
Dutch East Indies
Norway
Persia
996,016
Peru
Portugal
Russia
280
Roumania
San Salvador
Siam
Sweden
Switzerland
579,000
10,036,231
Turkey
Total
411,803,902
Silver.
Gold.
$12,391,777
11,199,868
10,868,313
$88,776,910
Gold.
$13,178,436 $131,638,633
6,730,260
3,458,435
5,890,827
105,185
4,340,900
69,331
1,194,000
50,887.122
3,299
24,500
25,955
24,333
50,000
9,924,740
84,630,837
17,517,000
2,000
750,166
5,316,439
1,017,580
29,172
216,789
2,224,350
164,050
1,202,130
14,061,745
77,551
20,216,679
324,433
3,000
2,115,806
8,586,999
517,920
9,651,454
9,687
2,888,288
54,179
313,338
47,330,786
79,194
673,044
16,222
67,157,700 -
187,449
64,887
100,000
4,911,301
2,433
1,945,726
58,773,220
6,929,500
100,000
5,851,265
2,920
5,058,025
9,258,002
1,720,792
69,104,300
858,346
24,498,653
407,058
3,912,084
208,471
11,103,995
1,052,960
29,574,098
137,416
3,110,555
38,740,321
39,372
3,449,748
498
15,660,469
14,785,004
116,499
13,834,116
249
29,272,420
9,797,871
349
12,667,479
162,217
97,330
10,371,704
423,640
4,436,294
1,288,730
8,459,796
935,071
3,932,351
670,636
7,371,450
199,200
1,586,628
162,132
1,407,000
804,000
139,360
5,000,000
4,093
3,774,415
5,034,525
207,799
1,206,000
1,809,000
155,440
415,527
207,360
5,660,338
704,207
152,869
2,344,468
3,263,078
2,315,280
1,930
1,342,891
714,428
653,305 "'i;376,'3o6"
1,323,756
4,708,265
221,816,876
$8,087,853
3,981,610
9,784,691
2,191,796
389,000
247,581
81,108
1,849,200
1,869,300
97,927
•
11,285,186
Silver.
327,205,649
16,393,119
249,000
311,000
23,250
256,085
47,560
319,726
386,000
748,707
1,544,000
8,169,755
693,170
397,225
107,997
501,800
781,397
195,688,499
313,242,714
113,427,331
326
REPORT ON T H E FINANCES.
N O , 2 3 . — W O R L D ' S PRODUCTION OF GOLD AND
SILVER.
. CALENDAR YEAR 1907.
Silver.
Gold.
Countries.
N o r t h America:
U n i t e d States
Mexico
Canada
Africa
Australasia
Europe:
Russia
Austria-Hungary
Germany
Norway
Sweden'
Italy
Spam
Greece .
Turkey
France
Great B r i t a i n
Servia
S o u t h America:
Argentina
Bolivia
Chile
Colombia
Ecuador
Brazil
Venezuela
GuianaBritish
Dutch......
French '
Peru
Uruguay
Central America
Asia:
Japan
China
Indo-China
Korea
Siam
India (British):
East I n d i e s British
Dutch
Total
...
Kilograms
(fine).
'
...
. ..
136,075
28,109
12,613
228,685
113,870
Ounces
(fine).
Value.
4,374,827 $90,435,700
903,699 18,681,100
8,382,800
405,517
7,352,228 151,984,100
3,660,911 75,677,700
40,151
3,739
100
18,700
39,600
216
40,413
1,414
2,893
4,500
835,400
29,200
59,800
155
1,907
4,898
402
3,040
34
4,985
61,313
157,491
12,923
97,750
1,082
, 103,000
1,267,400
3,255,600
267,100
2,020,700
22,400
1,963
963
3,552
774
78
3,172
. . .
903
1,914
7
1,257
44
90
. .}
26,684,300
2,484,900
66,600
28
60
. .
1,290,854
120,209
3,220
63,099
30,961
114,202
24,890
2,510
101,965
1,304,400
040,000
2,360,800
514,500
51,900
2,107,800
4,172
6,771
48
3,266
250
15,624
134,146
217,688
1,540
105,013
8,038
502,307
2,773,000
4,500,000
31,800
2,170,800
166,200
10,383,600
2,349
3,129
75,525
100,614
.1,561,300
2,079,900
621,375 19,977,260 412,966,600
Kilograms
(fine).
Ounces
(fine).
1,757,844
1,901,934
397,505
24,586
558,292
56,514,700
61,147,203
12,779,800
790,431
17,949,099
$37,299,700
40,357,200
8,434,700
521 700
11,846,400
4,110
54,253
158,261
6,268
929
22,950
127,435
25,786
2,095
24,727
4,268
132,122
1,744,233
5,088,086
201,516
29,761
737,843
4,097,035
829,025
67,351
794,973
137,216
87,200
1,151,200
3,358,100
133,000
19,600
487,000
2,704,000
547,200
44,500
524 600
90,600
783
162,437
32,619
76
25,178
5,222,358
1,048,719
2,456
3,446,800
692,200
1,600
297,546
9,566,118
6,313,600
58,877
1,892,896
1,249,300
95,596
3,073,411
2,028,400
10,434
335,454
221,900
5,729,611 184,206,984
121,577,100
Commercial value.
16,600
327
DIRECTOR OF M I N T .
N O . 2 3 . — W O R L D ' S PRODUCTION OF GOLD AND SILVER—Com tinued.
CALENDAR YEAR 1908.
Gold.
Countries.
N o r t h America:
U n i t e d States
Canfl,(ia
, .,
Mexico
Africa
. .
Australasia
Europe:
Russia
Austria-Hungary
Germanv
Norway
Sweden
Italy..
t
Spain
Greece
Turkey
France
Great B r i t a i n
Servia
...
S o u t h America:
Argen tina
Bolivia
Chile.
Colombia
:
Ecuador
. .
. . .
Brazil
Venezuela
GuianaBritish
Dutch
French
Peru
Uruguay
....
Central America
•
Asia:
Japan
China
...
....
Korea
Indo-China
Siam.
India (British)
East Indies (British).
(Dutch)
•
Silver.
Kilograms
(fine).
Ounces
(fine).
142,281
14,809
33,661
250,558
110,333
4,574,340 $94,560,000
476,112
9,842,100
1,082,210 22,371,200
8,055,430 166,520,500
3,547,210 73,327,300
1,631,129
687,597
2,291,260
39,583
534., 218
52,440,800
22,106,233
73,664,027
1,272,595
17,175,099
$28,050,600
11,824,600
39,402,900
680,700
.9,187,000
4,109
55,069
154,636
7,035
1,111
20,990
129,881
25,786
248
18,415
4,207
132,122
1,770,457
4,-971,544
226,175
35,728
674,848
4,175,674
829,025
7,971
592,042
135,255
70,700
947,000
2,659,300
121,000
19,100
361,000
2,233,600
443,400
4,300
316,700
72,300
3,954
180,595
42,769
704
127,108
5,806,117
1,375,039
22,642
3,105,700
735,500
12,100
3,254
104,626
66,000
297,546
9,566,118
5,116,900
Value.
42,209
3,715
97
702
2,251
14,500
46,500
3
1,726
24
90
Total
28,052,200
2,469,300
64,800
22
70
}
1,357,027
119,454
3,134
108
55,505
772
2,893
2,200
1,147,400
16,000
59,800
243
521
5,157
527
3,305
37
7,801
16,752
165,797
16,945
106,259
1,184
161,300
346,300
3,427,300
350,300
2,196,600
24,500
2,119
998
3,213
774
138
4,542
68,116
32,071
103,307
24,890
4,433
146,034
1,408,100
663,000
2,135,500
514,500
91,600
3,018,800
5,253
13,011
. 4,585
99
493
15,947
2,108
3,906
168,874
418,312
147,423
3,174
15,850
512,702
67,770
125,596
3,490,900
8,647,300
3,047,500
65,600
327,600
10,598,500
1,400,900
2,596,300
666,574
21,430,438 443,006,200
Kilograms
(fine).
Ounces
(fine).
Commercial
value.
68,000
45,437
1,460,809
781,400
124,194
3,992,854
2,135,800
17,790
571,953
305,900
6,321,517 203,236,861
108,711,500
328
REPORT ON T H E FINANCES.
No. 2 3 . — W O R L D ' S PRODUCTION OF GOLD AND SILVER—Continued.
C A L E N D A R Y E A R 1909.
Silver.
Gold.
Countries,
N o r t h America:
U n i t e d States
Canada
Mexico
Africa
Australasia
Europe:
. Russia
Austria-Hungary.
Germany
Norway
Sweden
Italy
Spain
Greece
Turkey
•France
GreatBritain
Servia
S o u t h America:
Argentina...
Bolivia
Chile
Colombia
Ecuador
Brazil
Venezuela...'
GuianaBritish
Dutch.>
French
Peru
Uruguay
Central America
Asia:
Japan
China
Indo-China
Korea
Siam
India (British)
East I n d i e s British
Dutch
T o t a l . . -:
Kilograms
(fine).
Ounces
(fine).
149,975
14,730
35,875
257,280
106,843
4,821,701 $99,673,400
473,591
9,790,000
1,153,400 23,842,900
8,271,575 170,988,600
3,435,007 71,007,900
Value.
.1,566,443
93,946
3,348
32,381,300
1,942,000
69,200
491
1,168
140
10,100
24,200
2,900
108
55,505
2,863
7,273
2,200
1,147,400
59,200
150,300
741
4,785
413
3,389
422
9,186
23,819
153,826
13,273
108,983
13,576
189,900
492,400
3,179,900
274,400
2,252,900
280,600
1,794
934
3,225
774
138
'3,957
57,697
30,041
103,708
24,890
4,433
127,229
1,192,700
621,000
2,143,800
514,500
91,600
2,630,100
5,698
14,072
99
3,000
493
15,586
183,184
452,406
3,174
96,440
15,850
501,097
3,786,700
9,352,100
65,600
1,993,600
327,600
10,358,600
2,162
3,229
69,510
103,832
1,436,900
2,146,400
48,723
2,922
104
3
1,726
683,748
21,982,713 454,422,900
Kilograms
(fine).
Ounces
(fine).
Commercial
value.
1,702,068
867,141
2,299,920
33,486
508,842
54,721,500
27,878,590
73,942,432
1,076,577
16,359,284
$28,455,200
14,496,900
38,450,100
559,800
8,506,800
4,109
31,079
165,875
6,629
914
24,467
148,276
25,786
248
18,415
14,300
349
132,122
'999,184
5,332,901
213,122
29,373
786,-620
4,767,091
829,025
7,971
592,042
459,747
11,226
68,700
519,600
2,773,100
110,800
15,300
409,000
2,478,900
431,100
4,100
307,900
239,100
5,800
8,246
172,571
13,412
704
265,106
5,548,154
431,204
22,642
137,900
2,885,000
224,200
11,800
6,375
204,958
106,600
297,546
9,566,118
4,974,400
"7i,'36i
"2,'2'94,'272'
'i,'i93,"o66
133,076
4,278,392
2,224,800
14,494
465,980
242,300
211,215,633
109,832,200
No.
24.—
PRODUCTION OF GOLD AND SILVER IN THE WORLD SINCE THE DISCOVERY OF AMERICA.
[From 1493 to 1885 is frorh a table of averages for certain periods compiled by Dr. Adolph Soetbeer; for the years since the production is the annual estimate of the Bureau of the Mint.]
Silver.
Gold.
Period.
A n n u a l average for period.
F i n e ounces.
1493-1520
1521-1544
1545-1560
1561-1580
1581-1600
1601-1620......
1621-1640
1641-1660
1661-1680
1681-1700.....
1701-1720
1721-1740
1741-1700
1761-1780
1781-1800
1801-1810
1811-1820.....
1821-1830
1831-1840
1841-1850
1851-1855
1856-1860
1861-1865
1866-1870
1871 1875
1876-1880
1881-1885
1880-1890
1891-1895
1896-1900
1901 .
1902
1903
1904.-.
1905
1906
1907
1908
1909..
186,470
230,194
273,596
219,906
237,267
273,918
266,845
281,955
297,709
346,095
412,163
613,422
791,211
665,666
571,948
571,563
367,957
457,044
652,291
1,760,502
6,410,324
6,486,262
5,949,582
6,270,086
5,591,014
5,543,110
4,794,755
5,461,282
7,882,565
12,446,939
12,625,527
14,354,680
15,852,620
16,804,372
18,396,451
Total
Value.
$3,855,000
4,759,000
5,656,000
4,546,000
4,905,000
5,662,000
5,516,000
5,828,000
6,154,000
7,154,000
8,520,000
12,681,000
16,356,000
13,761,000
11,823,000
11,815,000
7,606,000
9,448,000
13,484,000
36,393,000
132,513,000
134,083,000
122,989,000
129,614,000
115,577,000
114,586,000
99,116,000
112,895,000
162,947,000
257,301,100
260,992,900
296,737,600
327,702,700
347,377,200
380,288,700
T o t a l for period.
F i n e ounces.
5,221,160
5,.524,656
4,377,544
4,398,120
4,745,340
5,478,360
5,336,900
5,639,110
5,954,180
6,921,895
8,243,260
12,268,440
15,824,230
13,313,315
11,438,970
5,715,627
3,679,568
4,570,444
0, .522,913
17,605,018
32,051,621
32,431,312
29,747,913
31,350,430
27,955,068
27,715,550
23,973,773
27,306,411
39,412,823
62,234,698
12,625,527
14,354,680
15,852,620
16,804,372
18,396,451
19,471,080
19,977,260
21,430,438
21,982,713
047,853,790
Value.
$107,931,000
114,205,000
90,492,000
90,917,000
98,095,000
113,248,000
110,-324,000
116,571,000
123,084,000
143,088,000
170,403,000
253,611,000
327,116,000
275,211,000
236,464,000
118,152,000
76,063,000
94,479,000
134,841,000
363,928,000
662,566,000
670,415,000
614,944,000
648,071,000
577,883,000
572,931,000
495,582,000
564,474,000
814,736,000
1,286,505,400
260,992,900
296,737,600
327,702,700
347,377,200 380,288,700
402, .503,000
412,966,600
443,006,200
454,422,900
13,392,328,200
A n n u a l average for period.
F i n e ounces.
1,511,050
2,899,930
10,017,940
9,628,925
13,467,635
13,596,235
12,654,240
11,776,545
10,834,5.50
10,992,085
11,432,540
13,863,080
17,140,612
20,985,591
28,261,779
28,746,922
17,385,755
14,807,004.
19,175,867
25,090,342
28,488,597
29,095,428
35,401,972
43,051,583
03,317,014
78,775,602
92,003,944
108,911,431
157,581,331
165,693,304
173,011,283
162,763,483
167,689,322
164,19.5,266
172,317,688
Coining value.
$1,954,000
3,740,000
12,952,000
12,450,000
17,413,000
17,579,000
16,361,000
15,226,000
14,008,000
14,212,000
14,781,000
17,924,000
22,162,000
27,133,000
36,540,000
37,168,000
22,479,000
19,144,000
24,793,000
32,440,000
36,824,000
37,618,000
45,772,000
55,663,000
81,864,000
101,851,000
118,955,000
140,815,000
203,742,000
214,229,700
223,091,300
210,441,900
216,810,300
212,292,900
222,794,500
P e r c e n t a g e of p r o d u c t i o n .
T o t a l for period.
B y w eight.
Coining value.
Gold,
Silver
42,309,400
69,598,320
160,287,040
192,578,500
269,352,700
271,924.700
253,084,800
235,530,900
216,691,000
219,841,700
228,650,800
277,261,600
342,812,235
419,711,820
565,235,580
287,469,225
173,857,555
148,070,040
191,758,675
250,903,422
142,442,986
145,477,142
177,009,862
215,257,914
316,585,069
393,878,009
460,019,722
544,557,155
787,906,656
828,466,522
173,011,283
162,763,483
167,689,322
164,195,266
172,317,688
165,054,497
184,206,984
203,236,861
211,215,633
$54,703,000
89,986,000
207,240,000
248,990,000
348,254,000
351,579,000
327,221,000
304, .525,000
280,166,000
284,240,000
295,629,000
358,480,000
443,2.32,000
542,658,000
730,810,000
371,677,000
224,786,000
191,444,000
247,930,000
.324,400,000
184,109,000
188,092,000
228,861,000
278,313,000
409,322,000
509,256,000
594,773,000
704,074,000
1,018,708,000
1,071,148,400
223,691,300
210,441,900
216,810^ 300
212,292,900
222,794,500
213,403,800
238,166,600
262,770,900
273,.08e,900
11
7,4
2.7
2.2
L7
2
2.1
2.3
2.7
3.1
3.5
4.2
4.4
3.1
2
L9
2.1
3
3,3
6.6
18.4
18.2
14,4
12.7
8,1
6,6
4.8
4.8
7
6.8
8,1
8,6
9,3
9.6
10.5
9.8
9.5
9,4
89
92.6
97.3
97,8
98,3
98
97,9
97,7
97.3
96.9
96.5
95.8
95.6
96.9
98
98.1
97.9
97
96,7
9.3,4
81,6
8L8
85.6
87.3
91,9
93,4
95
95,2
95.2
93
93.2
9L9
91.4
90.7
90.4
89.5
90.2
90.5
90.6
10,432,222,066
13,488,125,500
5,8
94.2
F i n e ounces.
.
0
B y V alue
Gold.
Silver.
66.4
55.9
30.4
26.7
22
24.4
25.2
27,7
30,5
33,5
^ 36.6
41.4
42.5
33,7
24,4
24.1
25,3 •
33
35,2
52.9
78,3
78,1
72.9
70
58,5
53
45.5
44,5
44,4
54.6
53.8
58.5
60.2
62.1
63.1
65.3
63.4
62.8
62.5 >
49,8
33,.6
44.1
69.6
73.3
78
75.6
74.8
72.3
69.5
66., 5
63.4
58.6
57.5
66.3
75.6
75.9
74.7
67
64.8
47.1
21.7
21.9
27.1
30
41.5
47
54.5
5.5.5
55.6
45.4
46.2
41.5
39.8
37,9
36,9
34,7
36.6
37:2
37.5
50.2
o
H
O
o
CO
to
CD
No, 25.—^MONETARY SYSTEMS AND APPROXIMATE STOCKS OP M O N E Y , IN THE AGGREGATE AND P E R CAPITA, IN THE PRINCIPAL COUNTRIES OF
THE W O R L D , D E C E M B E R 31, 1909.
Stock of silver.
Stock of gold.
Countries.
Monetary
standard.
United States
Gold,
A u s t r i a - H ungary.-1 . - - d o .
Belgium..
...do.
British Empire:
...do.
Australia
...doCanada
United King- . . . d o .
dom.
...do..
India
S o u t h Africa,
S t r a i t s Settlements.^
Bulgaria
Cuba
Denmark
Egypt...-•..-.-Finland
France
Germany..".
Greece
Haiti
Italy
Japan
Mexicol
Netherlands
Norway
Portugal
Roumania
Russia
Servia
Siam
South American
States:
Argentina...
Bolivia
Monetary unit.
Dollar
Crown
Franc
Population.
In banks
and public treas-
I n circulation.
Limited
tender.
Per capita.
Uncovered
paper.
Gold.
Silver.
Paper.
Total.
Thousands. Thousands Thousands. Thousands. Thousands. Thousands. Thousands. Thousands.
$568,300
$167,300
$392,400 .$1,638,600
$780,700 $18.29
$735,600
• 89,600 $1,246,200
131,200
83,800
276,100
131,200
358,900
50,500
96,600
7.02
7,100
1,800
22,300
8,900
22,300
7,300
133,400
3.05
$8.21
2.60
1,22
$8,71
1,91
18,27
$35.21
11,53
22.54
2.33
1,08
2,65
12.32
2,55
42.68
29.05
17.74
,49
,13
.62
2,56
23,44
5,06
10.94
28.56
P o u n d sterling .
Dollar..
Pound sterling..
4,300
6,200
45,000
7,800
1,600
50,400
100
-do.
.do.
-do.
-do.do.
.do.do.
-do.
-do.
.do.do.
.do.
-do.
-do.
.do.
-do.
.do.
.do.
.do.
Lev
Peseta
Crown
:
Piaster
Markkaa...
Franc
:..
Mark
Drachma
Gourde
Lira
'.
Yen
Peso
Florin
Crown
Milreis...
Lei
Rouble
Dinar
Tical
4,000
2,100
2,700
11,300
2,900
39,300
60,600
2,600
1,500
33,900
52,900
13,600
5,800
2,300
5,400
6,800
154,000
2,800
6,100
6,200
38,200
19,200
182,900
3,200
673,000
190,600
2 200
1,000
283,800
59,100
37,600
48,600
8,100
6,000
18,100
604,100
5,100
100
.do.
.do.
Peso
1
Boliviano
6,000
1,800
167,900
2,500
Total,
295,200
.do.
-do.
Pound
sterling
and rupee.
Pound sterling..
Dollar:
Full
tender.
CO
CO
O
158,900
97,000
239,500
14,600
325,000
10,000
6,700
119,200
173,500
97,000
564,500
101,000
15^000
2,900
253,400
13,200
19,200
-4,60.0
8,600
297,000
Total.
10,000
6,700
119,200
45,000
38,900
65,400
100
20,000
37,500
20,000
37,500
6,200
38,200
19,200
182,900
6,100
926,400
190,600
2 200
1,000
283,800
72,300
37,600
67,800
12,700
14,600
218,100
901,100
5,100
100
3,300
5,000
6,200
. 15,900
500
63,700
235,600
2 3,000
1,.500
1,300
57,600
4,000
52,700
3,700
39,700
2 200
78,400
1,500
3,300
5,000
6,200
15,900
500
411,100
235,600
2 3,000
2,500
24,000
57,600
56,000
52,700
3,700
39,700
2 200
78,400
1,500
43,100
167,900
2,500
347,400
1,000
22,700
52,000
43,100
40. 35
76,400 1 15,65
12.54
114,600
500
8,100
8.38
,06
1,55
18,19
7.11
14,700
2,800
16.19
2.10
11,500
150,300
23.57
346,900
3.15
27,500
,08
8,800
,67
8,37
- 145,300
1,37
67,200
2.76
51,200
57,300
11.69
.7,300
5,52
30,000
2.70
34,300 . 2.66
5,85 .
5,300
1,82
,02
2,100
4,600
27.98
239,600
4,000 1 1.39
3.53
1,15
,83
20,57
2.38
14,85
5,44
2,30
17.85
,25
1,41
6.24
3,97
,17
37.85
3,82
10,46
5,72 . 12,76
3,89
11,81
10,58
1,15
8,21
5,87
1,67
13,37
,71 , 4.29
3,73
1,27
1,09
10.64
3,76
4,12
30.66
9.88
9,09
10.30
3.17
1,61
15.61
5.56
7,35
7,73
5,04
,03
6,36
.51
4,25
1,89
.54
7,43
.34
7,07
.28 1
39.93 . 67.91
3.89
2.22
o
O
H
W
a
Ul
31
32
33
84
85
36
37
38
39
40
41
42
43
44
45
46
Brazil..
Chile
Colombia . . .
Ecuador
Guiana:
British...
Dutch....
French...
Paraguay
Peru
Uruguay. . .
Venezuela....
Spain....
Sweden
Switzerland
Turkey
Central
Americ a n States,
..do .
...do..
.do .
...do-.
Milreis
Peso...
Dollar .
Sucre
...do..
...do..
...do..
..do..
...do.,
.do..
...do.,
.do .
...do..
-do..
...do..
Silvers
Pound sterling.-.
Florin
Franc
Peso
Sol..
Peso
Bolivar
Peseta
Crown
Franc
.
Piaster
Peso
300
100
100
600
4,600
1,100
2,600
19,700
5,400
3,300
24,000
4,600
100
100
200
100
2,900
15,500
300
103,200
21,700
26,300
15;500
1,100
4,704,000
68,300
100
100
4,500
25,000
2,800
. 25,000
2,800
1,300
1,300
400
300
100
400
300
100
3,200
34,700
116,400
700
100
100
200
100
6,800
15,500
300
103,200
24,900
61,000
131,900
1,800
2,400
4,300
700
173,700
8,600
13,500
26,400
6,900
2,400
4,300
700
173,700
8,600
13,500
26,400
6,900
96,200
32,600
25,800
1,590,700
6,293,700
1,379,400
2,522,000
3,975,800
68,300
100
100
2,400
1,023,000
Total
21,500
3,400
4,500
1,300
,.
2,100
3,900
.
1,142,600
190,600
56,300
1,000,000
2,000
500
400
600
35,000
1,700
74,700
8,87
16.56
222. 22
1,54
13.21
17.41
222.24
6.00
31
32
33
34
,33
1,67
1,33
1,00
3,00
4,00
2,00
1.00
6,00
58,33
.
.17
1,48 *""."52"
3,91 " ' i , ' 5 5 "
14,09
,27
.12
8,82 '""4,'88"
5.24
1,59
6,04
4.61
4.09
7,82
18, 48
1.10
5,50
1,50 "'i6,"24"
,39
3,33
8,00
9,00
58,50
2,00
19,55
.39
18,94
12.24
30,39
6,60
18.13
35
36
37
38
39
40
41
42
43
44
45
46
3,18
,03
.02
3,46
6,15
1,16
,82
'"i'.bo
2,46
3,89
12.50
f-l
i
1 Includes Straits Settlements, the Malay States, and Johore.
2 F r o m L ' E c o n o m i s t e E u r o p e a n , J a n . 1, 1909,
« E x c e p t Costa R i c a a n d B r i t i s h H o n d u r a s (gold-standard c o u n t r i e s ) .
CO
CO
332
REPORT ON T H E FINANCES.
No. 2 6 . — A U T H O R I T Y FOR COINING, CHANGES, IN W E I G H T AND F I N E N E S S , ACT D I S CONTINUING SAME, AND AMOUNT COINED FOR E A C H DENOMINATION OF COIN.
A c t authorizing coinage or
Weight
change in weight or fineness. (grains).
Denominations.
Fineness
Pieces.
Total a m o u n t
coined t o J u n e
30,1910.
GOLD COINS.
516
270
258
77,4
112,807,169 $2,256,143,380.00
,900
.916§
.899225 [' 48,177,301 • 481,773,010.00
900
, 916^,899225 I 70,986,684
354,933,420.00
,900
,916§
34,929,147.50
,899225 I 13,971,659
,900
539,792
1,619,376.00
,900
25,8
,900
19,499,337
19,499,337.00
J u n e 28.1902
25.8
,900
250,000
250,000.00
A p r . 13, 1904
25,8
,900
60,000
60,000.00
206,291,942
3,149,207,670,50
[1578,303,848
1578,303,848,00
Mar. 3,1849
A p r . 2, 1792
J u n e 28,1834
J a n . 18 1837
A p r . 2,1792
:
Half eaele C$5')
J u n e 28 1834
J a n . 18,1837
Q u a r t e r eagle ($2.50).... A p r . 2, 1792
J u n e 28,1834
J a n . 18,1837
F e b . 21,1853 (act discontinThree-dollar piece
u i n g coinage Sept. 26,
1890). .
One-dollar
Mar. 3,1849 (act discontinu i n g coinage Sept. 26,
D o u b l e eagle ($20)
E a e l e C$10^
One-dollar
Louisiana
Purchase Exposition.
Dollar, Lewis a n d Clark
Exposition.
i.35
129
67,5
64.5
•
T o t a l gold
SILVER COINS.
Dollar
T r a d e dollar 2
Lafayette dollar
Half dollar
. -
C o l u m b i a n half dollar
Q u a r t e r dollar
C o l u m b i a n q u a r t e r dollar.
T w e n t y - c e n t piece
Dime
Half dirries
Three-cent piece
A p r . 2, 1792
J a n , 18,1837 (act
u i n g coinage
1873).
F e b , 28,1878
J u l y 14, 1890
F e b , 12,1873 (act
u i n g coinage
1887).
Mar. 3,1899
A p r . 2,1792
J a n . 18,1837
F e b . 21,1853
F e b . 12,1873
A u g 5, 1892
A p r . 2,1792
J a n . 18, 1837
F e b . 21,1853
F e b . 12, 1873
M a r . 3 , 1893
discontinF e b . 12,
discontinF e b , 19,
-•...
Mar, 3, 1875 (act discontinu i n g coinage May 2,1878),
A p r . 2, 1792..
J a n . 18, 1837
F e b . 21,1853
F e b . 12,1873
A p r . 2,1792
:..
J a n . 18,1837
F e b . 21,1853 (act discontinuing coinage F e b . 12,
1873).
Mar. 3,1851
Mar. 3,1853 ( a c t discontinu i n g coinage F e b . 12,
1873).
416
4121 .
420
412^
208
206i
192
3192.9
192.9
104
103^
96 .
6 96. 45
96.45
,8924
,900
35,965,924
35,965,924.00
50,000
50,000.00
I 366,731,221
, 183,365,610.50
5,000,000
<2,500,000. 00
1385,922,401
96,480.600.25
,900
.900
.8924
.900
.966
.8924
,900
.900
40,000
10,000.00
6 77.16
.900
1,355,000
.271,000.00
4L6
41i
38,^4
7 38. 58
20.8
2Qi
19,2
.8924
.900
i 602,967,986
60,296,798.60
12|
n.52
,750
.900
.8924
.900
I
T o t a l silver
97,604,388
4,880,219.40
i ' 42,736,240
1,282,087.20
2,110,677,008
963,406,087.95
<
1 Amount coined to Feb. 12,1873, $8,031,238,
Silver-dollar coinage under acts o—
f
Apr. 2, 1792
Feb. 28, 1878
•-..-•
July 14, 1890
Mar. 3,1891
Total
,..2 Coinage limited to export demand, joint resolution July 22,1876.
812^ grams, or 192,9 grains,
4 Total amount coined.
$8,031,238
$378,166,793
187,027,345
-.
5,078,472
:
570,272,610
-
578,303,!
^ 6^ grams, or 96,45 grains.
6 5 grams, or 77.16 grains.
7 2^ grams, or 38,58 grains.
333
DIRECTOE OF M I N T .
N o . 2 6 . — A U T H O R I T Y FOR COINING, CHANGES IN W E I G H T AND F I N E N E S S , ACT D I S CONTINUING SAME, AND AMOUNT COINED- FOR EACH DENOMINATION OF C O I N —
Continued,
Denominations,
Act authorizing coinage or Weight
change in weight or fineness. (grains).
Total amount
coined to June
30,1910.
Fineness,
Pieces,
77.16
30
0)
0)
642,501,287
31,378,316
$32,125,064.35
941,349.48
96
(2)
45,601,000
912,020,00
MINOR COINS,
Five cent (nickel)..
Three cent (nickel).
Two cent (bronze)..
Cent (copper)
Cent (nickel)Cent (bronze)
Half cent (copper)-
May 16,1866
Mar. 3, 1865 (act discontinuing coinage Sept, 26,
1890),
Apr, 22,1864 (act discontinuing coinage Feb, 12,
1873).
Apr. 2,1792
Jan. 14, 1793
Jan. 26, 1796 3 (act discontinuing coinage Feb, 21,
1857).
Feb, 21,18.57 (act discontinuing coinage Apr. 22,
1864).
Apr. 22, 1864
Apr,2,1792
•....
Jan. 14,1793
Jan. 26,1796 (actio discontinuing coinage Feb. 21,
1857).
264
208
168
72
132
104
84
1,562,887,44
0)
2,007,720,00
(2)
18,595,365,29
39,926,11
Total minor..
2,944,063,098
56,184,332,67
Total coinage.
5,327,032,048
4,168,798, OOL 12
1 Composed of 75 per cent copper and 25 per cent nickel,
2 Composed of 95 per cent copper and 5 per cent tin and zinc,
3 By proclamation of the President, in conformity with act of Mar. 3,1795.
* Composed of 88 per cent copper and 12 per cent nickel.
334
REPORT ON T H E FINANCES.
N o . ° 2 7 . — C O I N A G E OF THE MINTS OF THE U N I T E D STATES
[Coinage of the mint at Charlotte, N, C., from its organization, 1838, to its suspension, 1861,]
Gold.
Total value.
Calendar years.
Quarter eagles.
Halfeagles,
1838 to 1861
$544,915
$4,405,135
-
Dollars.
$109,138
$5,059,188
[Coinage of the mint at Carson City from its
Silver.
Gold.
Calendar years.
Double eagles.
1870 to 1893
:
Halfeagles.
Eagles.
$17,283,560
$3,548,085
$2,997,780
Dollars.
Trade dollars.
$13,881,329.
$4,211,400
[Coinage of the mint at New Orleans from its organization, 1838, to
Gold,
Calendar years.
1838 to 1900
1900
1901
1902
1903 •
1904
1905
1906
1907
1908
1909
-.
Double
eagles, •
Halfeagles,
Eagles,
Silver.
Quarter
eagles.
Three
dollars.
Dollars.
Dollars,
•- $16,375,500 $19,804,320 $4, 447,625 $72,000 $3,023,157.50 $1,004,000 $144,395,529
...
12,590,000
720,410
13,320,000
8,636,000
1,127,710
4,450,000
1,089,500
3,720,000
868,950
171,000
Total
16,375,500
23,610,890
4,618,625
72,000
3,023,157.50
1,004,000
187,111,529
[Coinage of the. mint at San Francisco from
Silver.
Gold.
Calendar
years'.!
Double
eagles.
Eagles.
Half
eagles.
Three Quarter
dollars. eagles.
Dollars.
Dollars.
Trade
dollars.
Half
dollars.
1854-1900. $929,075,020 $74,122,060 $78,244,540 $186,300 $1,861,255 $90,232 $98,624,073 $26,647,000 $20,575,031.50
1900
49,190,000
810,000 1,645,000
3,540,000
1,280,161.00
2,284,000
1901.1..-. 31,920,000 28,127,500 18,240,000
423,522.00
1902...
1,530,000
35,072,500 4,695,000 4,695,000
730,335.00
1903
1,241,000
19,080, 000 5,380,000 9,275,000
960,386.00
1904
2,304,'000
102,683,500
485,000
276,519.00
1905
36,260,000 • 3,692,500 4, 403,500
1,247,000.00
1906
41,315,000 4,570,000 2,990,000
870,077.00
1907
43,316,000 2,105,000
625,000.00
440,000
822, 414.00
1908
598,500
410,000
55, 498,500 2,923,500 1,486,000
882,000.00
1909
Total. 1,343,850,520 127,024,060 121,874,040 186,300 1,861,255 90,232 109,523,073 26,647,000 28,692, 445.50
Minor coinage.
Calendar year,
V
1908
1909
Total
, Five cents.
335
DIRECTOK OF M I N T .
FROM THEIR ORGANIZATION, BY CALENDAR
YEARS,
[Coinage of the mint at Dahlonega, Ga., from its organization, 1838, to its suspension, IS6I.]
'
Gold.
Calendar y e a r s .
Total value.
Half eagles.
T h r e e dollars.
$5,536,055
1838 to 1861
Q u a r t e r eagles.
$3,360
Dollars.
$494,625
$72,529
$6,106,569
organization, 1870, to its suspension, June 30,1893.]
Silver.
Total coinage.
Total value.
Half dollars.
Q u a r t e r dollars.
Twenty
cents.-
$2,654,313.50
$2,579,198,00 •
$28,658.00 $2,090,110.80 $23,829,425.00 $25,445,009.30
Dimes.
Gold.
Silver.
$49,274,434.30
its suspension, 1861,- and from its reopening, 1879, to December 31,1909.]
Silver.
T o t a l coinage.
Total value.
Half
dollars.
Quarter
dollars.
Half
dimes.
Dimes,
Three
cents.
Silver.
Gold.
$28,720,038 $7,452,250 $3,262,590,60 $812,327.50 $21,600 $44,726,602.50 $184,664,335.10 $229,390,937.60
201,000,00
. 15,017,000.00 15,017,000.00
1,372,000 ^ 854,000
720;410.00
562,000,00
14,847,000.00 15,567,410.00
562,000 . 403,000
450,000,00
11,536,000.00 11,536,000.00
1,263,000 1,187,000
1,127,710.00
818,000,00
7,193,000,00 • 8,320,710.00
1,050,000
875,000
1,089,500.00
5,982,300.GO
4,892,800,00
558,800
614,000
. 340,000.00
900,000,00
900,000.00
252,500
307,500
261,000,00
1,998,000,00
2,866,950.00
1,223,000
514,000
505,800.00
3,619,100,00
1,973,300 1,140,000
3,619,100.00
.868,950,00
178,900.00
4,419,900,00
4,419,900.00
2,680,000 1,561,000
228,700,00
. 462,700
178,000
171,000,00
869,400,00
1,040,400,00
40,117,338 15,085,750
6,807,990,60
812,327, 50
21,600 48,704,172.50
249,956,535.10 298,660,707, 60
Its organization, 1854, to December 31,1909,]
. Silver.
T o t a l coinage.
Total value.
Quarter
dollars.
Twenty
cents.
Dimes.
Half
dimes.
Silver.
Gold,
Minor.
$8,322.569.00 $231,000 $4,798,728.80 $119,100 $1,083,579,407 $159,317,502.30
516,827.00
51,645,000 5,801,634.25
464,646.25
59,302,20
78,287,500 2,784,990.20
18,166.00
207,000,00
44,462,500 2,848;488,00
381,153.00
61,330,00
33,735,000 2,521,716.00
259,000.00
80,000,00
103,168,500 2,660,519.00
685,519.90
44,356,000 2,403,519.90
471,000.00
313,664.00
48,875,000 1,183,741.00
317,847,00
45,421,000 1,282,847.00
340,000.00
322,000.00
1,448,500 . 1,340,414.00
196,000,00
100,000.00
59,908,000 1,319,000,00
337,000,00
$1,242,896,909.30
57,446,634.25
81,072,490.20
47,310,988.00
36,256,716.00
105,829,019.00
46,759,519.90
50,058,741.00
46,703,847.00
2,800., 064.00
$11,150.00
26,180.00
61,253,180.00
10,789,534,25 231,000 7,462,218.90 119,100 1,594,886,407 183,464,371,65
37,330.00 1,778,388,108.65
Minor coinage.
Three cents.
T w o cents.
Cents.
Half cents.
Total.
$11,150.00
26,180.00
$11,150,00
26,180,00
37,330.00
37,330,00
336
REPORT ON T H E F I N A N C E S .
No. 2 7 . — C O I N A G E OF T H E M I N T S OF T H E U N I T E D
STATES
[Coinage of the mint at Philadelphia from
Gold coinage.
Calendar years.
Double
eagles.
Eagles,
Half
eagles.
Quarter
eagles.
Three
dollars.
Dollars. I
$522,641,300 $218,387,890 $157,644,765 $1,357,716 $23,023,902 50 $18,223,438
168,012.50
2,939,600
7,028,650
37,491,680
228,307 50
17,188,250 • 3,080,200
2,230,520
334,332.50
175,000
862,810
825,130
625,080
503,142.50
1 175,000
.1,135,120
1,259,260
5,748,560
402,400.00
2 25,000
1,960,080
1,620,380
125,135,940
2 35,000
544,860,00
1,511,540
2,010,780
1,180,220
441,225,00
1,744,100
1,654,970
1,393,800
841,120.00
3,130,960
14,433,790
36,495,620
1,412,642.50
4,999,430
3,749,860
88,558,200
1,104,747.50
3,135,690
1,848,630
3,225,640
1793 to 1900
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
Total
824,726,560
265,918,540 . 186,233,945
1,357,716
29,004,692.50
18,533,438
Minor coinage.
Calendar years.
F i v e cents.
1793 to 1900 .
1900
1-901
1902
1903
1904
.
1905
1906
1907
1908..
. .
1909
Three cents.
T w o cents.
$17,444,363,35
1,362,799,75
1,324,010:65
1,574,028,95
1,400,336,25
1,070,249,20
- 1,491,363,80
1,930,686.25
1,960,740.00
1,134,308.85
579,526,30
•.
.
.
.
Total
1 Louisiana Purchase Exposition,
$941,-349.48
$912,020,00
31,272,413,35
•
941,349,48
912,020,00
2 Lewis and Clark Exposition.
[Coinage of the mint at Denver from
Gold coinage.
.
Calendar years.
Double,
eagles.
$12,405,000
16,845,000
20,265,000
1,050,000
1906
1907
1908
1909
Total.
.
Eagles.
Half
. eagles.
$9,810,000
10,300,000
10,465,000
1,215,400
$1,600,000
4,440,000
740,000
17,117,800
50,565,000
31,790,400
23,897,800
Three
dollars.
Quarter
eagles.
Dollars.
1
337
DIRECTOR OP M I N T .
FROM THEIR ORGANIZATION, BY CALENDAR Y E A R S — C o n t i n u e d .
its organization, 1793, to December 31, 1909.]
Silver coinage.
Trade
dollars.
Half dollars.
Dollars.
Quarter
dollars.
Twenty
. cents.
Dimes.
Half dimes.
Three cents.
$5,107,524 $236,558,010 $93,763,709,00 $43,487,230.25 $11,342 $24,715,379,80 $3,948,791,90 $1,260,487.20
2,504,228.00
3 8,880,912 2,381,456.00
1,760, OOL 20
6,962,813 2,134,406.50
2,223,203,25
1,886,047.80
7,994,777 2,461,388.50
3,049,436. 00
2,138,077.70
4,652,755 1,139,377,50
2,417,516.00
1,950,075.50
2,788,650 1,496,335,00
2,397,203, 25
1,460,102.70
1,242,062.50
331,363,50
1,455,235.00
914,108, 75
1,319,337,50
1,995,840,60
1,798,143, 75
1,299,287,50
2,222,057,50
1,058,136,25
677,272.50
1,060,054,50
2,317,162.50
1,184,325.00
1,024,065.00
5,107,524 267,837,917 108,188,258,50
63,408,430.50
11,342
41,667,027,30
3,948,791.90 1,260,487.20
Total coinage.
Minor coinage.
Total v a l u e .
Gold.
Half cents.
Cents.
$13,347,409,39
6.68,337,64
796, 111, 43
873,767. 22
850,944.93
613,280,15
807,191, 63
960,222.55
1,081,386,18
323,279,87
1,150,682. 63
39,926,11
Minor.
$941,279,011,50 $408,852,474.15
15,526,687.20
47,627,942.50
13,.206,470. 55
22,727. 277, 50
15,643,679.20
2,722,352.50
10,159,724. 00
8,821,082.50
8,142,290,95
129,144,400.00
3,028,661. 00
5,282, 400.00
4,229,286,85
5,234,095.00
5,319,488. 75
54,901,490.00
2,795,463, 25
98,720,132. 50
4,525,552. 50
9,314, 707. 50
$39,926,11
21,472,613.62
Silver.
1,325,774,891.50
491,429,778. 40
$32,685,068,33
2,031,137,39
2,120,122.08
2.447.796.17
2,251,281.18
1,683,529.35
2,298,555.43
2,890,908.80
3.042.126.18
1,457,588. 72
1,730,208,93
$1,382,816,553.98
65,185,767.09
38,053,870,13
20,813,827.87
2L 232,087. 68
138,970,220.30
10,609,616.43
12,354,290.65
63,263,104.93
102,973,184.47
15,570,468.93
54,638,322,56
1,871,842,992.46
3 Includes 50,000 Lafayette souvenir dollars.
February, 1906, to December 31,1909,]
Silvercoinage,
•
Trade
dollars.
Dollars.
Half dollars.
Quarter
dollars.
$2,014,000
1,928,000
1,640,000
$820,000
621,000
1,447,000
1,278,500
5,582; 000
4,166,500
Tw^enty
cents.
65872°—FI 1910
22
Dimes.
$406,000
408,000
749,000
95,400
...-...-.
1,658,400
"Half d i m e s .
Three c e n t s .
338
REPORT ON T H E FINANCES.
N O . 27.^—COINAGE OF THE MINTS OF THE U N I T E D STATES
RECAPITULATION.
, Gold coinage.
Calendar years.
Double
eagles.
1793-95
1796.
1797
.-1798
1799..
1800
1801.
-..
--.
1802
. .
1803. . . . - . .
1804
1805
------1806
1807..
1808
1809
---1810
1811
1812
..--1813
1814
1815
.
. .
1816
1817
1818
--1819
1820
1821
1822
1823
1824
'1825
.--1826
1827
1828
1829
.-..
..-.--1830
1831
1832
. . . . ...
1833
:
1834
...
. ...
1835
1836
- . -.1837
1838
1839....
.1840
-.-1841
1842
1843
-:
1844
1845
1846
1847
:
1848 •
1849....
1850
. .
1851....
1852
. . .
1853.....
1854
1855.
.- .
1856
1857
1858
1859
:
I860
1861
1862
1863
-:
1864...
1865
'
1866
1867
.'
1868
1869
•
.
'
.
•
•
Carried forward..-- .
$26,225,220
48,043,100
44,860,520
26,646, .520
18,052,340
25,046,820
30,437,560
28,797,500
21,873,480
13,782,840
22,584,400
74,989,060
18,926,120
22,187,200
19,958,900
27,874,000
30,820, 500
23,436,300
18,722,000
17,238,100
Eagles.
$27,950
60,800
91,770
.79,740
174,830
259,650
292,540
150,900
; 89,790
97,950,
72,000
382,480
473,380
656,310
1,089,070
2,506,240
1,250,610
- 736,530
1,018,750
14,337,580
1,813,340
6,775,180
3.489,510
4,393,280
2,811,060
2,522,530
2,305,760
1,487,010
1,429,900.
481,060
343,210
253,930
278,830
1,287,330
234,950
112,480
60,800
207,050
237,800
121,400
241,550
82,850
560,502,480' 54,819,680
Half
eagles.
Three
dollars.
$43,535
16,995
32,030
124,335
37,255
58,110
130,030
265,880
167,530
152,375
165,915
320,465
420,465
277,890
169,375
501,435
497,905
. 290,435
477,140
77,270
3,175
242,940
258,615
1,319,030
173,205
88,980
72,425
86,700
145,300
90,345
124,565
140,145
287,210
631,755
702,970
787,435
968,150
3,660,845
1,857,670
2,765,735
1,03.5,605
1,600,420
802,745
1,048,530
380,945
655,330
4,275,425
4,087,715
2,743,640
2,736,155
5,382, 685
1,863,560
1,184,645
860,160
2,651,955
3,689, 635
2,305,095
1,513,235
1,257,090
1,806,665
1,232,970
439,770
361,235
352,365
3,332,130.
69,825
97,360
40,540
144,535
253,200
179,600
288,625
163,925
67,470,880
Quarter
eagles.
Dollars.
$165.00
4,390.00
1,535.00
1,200.00
6,530.00
1,057.50
8,317,50
4,452.50
4,040.00
17,030.00
6,775.00
16,120.00
6,500.00
11,085,00.
1,900,00
7,000,00
-
$491,214
171,465
181,530
104,673
6,399
46,914
42,465
18,210
17,355
15,117
8,040
3,495
12,090
7,950
14,625
7,575
8,507,50
11,350,00
11,300,00
11,000,00
10,400,00
293,425,00
328,505,00
1,369,965,00
112,700,00
137,345,00
191,622.50
153,572.50
54,602.50
85,007.50
1,327,132.50
89,345.00
276,277.50
279,272.50'
482,060,00 .
98,612. 50
111, 147. 50
895,547.50
3,867,337,50
3,283,827, 50
3,519, 615.00
1,896,397.50
600,700,00
1,213,117,50
796,235:00
144,082.50
142,220,00
164,360,00
3,241,295,00
300,882.50
27,075,00
7,185,00
62,302.50
105,175.00
78,125.00
94,062.50
84,612.50
1,149,123 26,065,402.50
'
$936,789
511,301
3,658,820
2,201,145
4,384,149
1,657,016
824,883
1,788,996
801,602
. 131,472.
193,431
51,234
527,499
1,326,865
6,250
5,950
3,725
7,180
5,250
10,525
5,925
19,040,007
339
DIKECTOR OF M I N T .
FROM THEIR ORGANIZATION, BY CALENDAR Y E A R S — C o n t i n u e d .
RECAPITULATIO.N.
.
Trade
dollars.
.
Dollars.
$204,791
72,920
7,776
327,536
423,515
220,920
54,454
41,650
66,064
19,570
321
•
1,000
300
. 61,005
173,.000
184,618
165,ioo
20,000
24,500
169,600
140,750
. " 15,000
62,600
47,500
1,300
1,100
46,110
33,140
26,000
': 63,500
94,000
636,500
733,930
,78,500
12,090
27,660
31,170
47,000
49,625
60,325
182,700
424,300
'5,053,440
Silvercoinage.
Quarter
dollars.
Half dollars.
(
Twenty
cents.
Dimes.
$161,572.00
$1,473.50
63.00
I,-959.00
15,144.50
14,945.00
15,857.50
78,259.50
105,861.00
419,788,00
525,788,00
684,300.00
702,905.00
638,138,00
601,822,00
814,029,50.
620,951,50
519,537,50
23,575,00
607,783.50
980,161.00
1,104,000,00
375,561,00
• .652,898,50
7,79,786,50
847,100,00
1,752,477.00'
1,471,583.00
2,002,090.00
2,746,700.00
1,537,600,00
1,856,078,00
2,382,400,00
. 2,936,830,00
2,398,500,00'
2,603,000,00
3,206,002.00
2,676,003.00
3,273,100,00
1,814,910,00
1,773,000,00
1,748,768,00
1,145,054,00
355,500.00
1,484,882.00
3,050,000.00
1,885,500.00
1,341,500.00
2,257,000.00
1,870,000.00
1,880,000,00
1,781,000,00
1,341,500,00
301,375,00
. 110,565,00
. 2,430,354,00
4,111,000,00
2,288,725.00
1,903,500.00
1,482,000.00
5,998,000.00
2,074,000.00
1,032,850.00
2,078,950.00
802,175.00
709,830.00
518,785.00
.593,450.00
899,812.50
810,162.50
769,100.00
725,950.00
2,176,00
3,464.00
1,097,50
3,304,00
826,50.
12,078,00
1,684,50
30,348,50
51,531,00
55,160,. 75
Three
cents.
$4,320,80
51L50
2,226,35
i, 200,66
1,695,50
650,50
1,892.50
780.00
16,500,00
4,47L00
635.50
6,518:00
42,150.00
17,308,00
5,000,75
^
90,293,50
36,000.00
31, SOL 00
54,212.75
16,020,00
4,450.00
94,258,70
118,65 L 20
10,000,00
44,000,00
42,000,00
51,000,00
1,000,00
25,500,00
121,500.00
12,500.00
• 77,000.00
51,000.00
77,135,00
52,250,00
48,500,00
63,500,00
141,000,00
119,000,00
104,200,00
239,493,40
229,638, 70
253,358,00
363,000,00
390,750,00
152,000,00
7,250,00
198,500,00
3,130.00
24,500,00
45,150,00
113,900.00
244,150.00
142,650.00
196,550.00
1,327,30L00
624,000.00
207,500.00
703,000,00
712,000,00
189,000,00
97,000,00
78,700,00
209,650.00
102,830,00
17,196,00
26,907,00
18,550,00
14,372,50
14,662.50
72,625.00
70,660.00
99,500,00
80,000,00
39,000,00
71,500,00
488,000,00
118,000,00
63,100,00
208,000,00
122,786,50
153,331,75
143,000,00
214,250,00
403,400,00
290,300,00
230,500,00
127,500,00
275,500,00
36,500,00
85,000,00
150,700,00
62,000,00
68,265,00
4,146,555,00
3,466,000,00
857,350.00
2,129,500,00
2,726,500,00
2,002,250,00
421,000.00
312,350.00
1,237,650.00
249,887.50
48,015.00
28,517.50
25,075.00
11,38L25
17,156.25
31,500,00
23,150,00
95,509,284.50 21,727,878.00
$2,213,50
2,526,10
2,755,00
Half dimes.
. ..
:
•
61,500,00
62,000,00
62,135,00
48,250,00
- 68,500,00
74,000,00
138,000,00
95,000,00
113,800,00
112,750,00
108,285,00
113,954.25
98,250.00
58,250.00
58,250,00
32,500.00
78,200.00
1,350,00
63,700.00
63,400.00
72,450.00
82,256.00
82,050.00
63,025.00
785,251.00
365,000.00
117,500.00
299,000.00
433,000.00
258,000.00
•45,000.00
92,950.00
164,050.00
74,627.50
5,923.00
4,523.50
0,675.00
6,536.25
6,431.25
18,295.,00
21,930,00
8,376,184,10 4,529,818,90
$185,022,00
559,905,00
342,000,00
20,130,00
4,170,00
43,740,00
31,260,00
48,120,00
10,950,00
8,610.00
14,940,00
10,906,50 .
643.80
14.10
255.00
681,75
138,75
123,00
153,00
1,281,762.90
340
REPORT ON T H E FINANCES.
N o . 2 7 . — C O I N A G E OP THE M I N T S OF THE U N I T E D STATES
RECAPITULATION-Continued.
Gold coinage.
Calendar years.
Double
eagles.
B r o u g h t forward.
1870..
1871
1872
1873
1874...
1875..'
1876
1877
:
1878
----1879
1880..
-1881
1882......
1883
--.
1884
.1885
1886...
1887
.-.1888
:.'
1889
1890
1891.
---1892
1893
.1894
1895
1896
:..
1897
--..
1898
:
1899
1900
1901
1902
1903.....
1904
1905
1906
1907
.1908...
1909.,
--.
" Total.....
•
-
Eagles.
Half eagles.
Three
dollars.
Quarter
eagles. .
Dollars.
$560,502,480 $54,819,680 $67,470,880 $1,149,123 $26,065,402.50 $19,040,007
164,430
143,550
10,605
51,387,50
9,335
22,819,480
68,375 00
254,650
245,000
3,930
20,456,740
3,990
244,500
52,575,00
3,530
21,230,600
275,350
6,090
512,562,50.
125,125
173,680
.75
55,456,700
• 754,605
799,270
125,460
9,850,00
198,820
33,917,700
203,530
78,350
32,737,820
105,240
60
30,050,00
420
104,280
3,245
46,386,920
61,820
135
. 23,052.50
211,490
4,464
92,630.00
43,504,700
182,660
3,920
246,972 1,160,650,00
1,031,440
45,916,500
1,427,470
3,020
6,120,320
331,225.00
28,889,260
3,727,155
9,090
3,030
7,490,00
17,749,120 21,715,160 22,831,765
3,108
1,636
1,650
1,700,00
14,585,200 48,796,250 33,458,430
7,660
10,100,00
^ 4,620
23,295,400 •24,740,640 17,831,885
5,040
4,900,00
2,595,400
2,820
24,980,040
1,647,990
10,840
4,982.50
2,110,800
3,318
6,206
19,944,200
1,922,250
2,730
2,217,50
4,815,270
12,205
13,875,560
9,065,030
10,220,00
6,016
3,426
22,120 10,621,600 18,282,160
8,543
18,480
15,705,00
8,706,800
5,662,420
9,560,435
15,873
40,245,00
8,030,310
16,080
21,717,320
1,560,980
44,120,00
30,729
4,298,850
7,287
16,995,120
37,825
22,032.50
755,430
19,399,080
290,640
27,600.00
1,956,000
25,891,340
1,347,065
6,362,50
9,817,400
19,238,760
5,724,700
. 75,265.00
27,178,320 20,132,450
9,610,985
. 10,305.00
48,350,800- 26,032,780
5,152,275
15,297,507,148,260
45,163,120
7,289,680
. 48,005,00
2,000,980
. 43,931,760
1,072,315
74,760,00
57,070,220 12,774,090
6,109,415
60,412,50
54,912,900 12,857,970 10,154,475
68,375,00
.73,593,680 21,403,520 16,278,645
168,012,50
3,749,600
86,681,680
8,673,650
228,307,50
34,150,520 46,036,160 21,320,200
334,332.50
5,520,130
5 75,000
"35,697,580
5,557,810
503,142.50
7,766,970 10,410,120
5175,000
24,828,560
402,400,00
2.709,880
6 25,000
227,819,440
2,445,680
544,860,00 ' 6 35,000
5,703,280
37,440,220
5,915,040
441,225,00
55,113,800 16,903,920
6,334,100
841,120,00
96,656,620 26,838,790
7,570,960
1,412,642.50
109,263,200 14,813,360
6,149,430
1,104,747,50
5,987,530 21,910,490
59,774,140
2,252,801,140 451,341,670 350,113,685
1,619,376 34,928,645.00
1 I n c l u d e s $475,000 in C o l u m b i a n coins.
2 Includes $2,025,000 i n C o l u m b i a n coins.
3 Includes $10,000 in C o l u m b i a n coins.
19,809,337
341
DIKECTOR OF M I N T .
FROM T H E I R O R G A N I Z A T I O N , BY C A L E N D A R
YEARS—Continued.
RECAPITULATION-Continued.
Silvercoinage,
Trade
dollars.
Dollars.
Half dollars.
• Quarter
dollars.
Twenty
cents.
$5,053,440 $95,509,284.50 $21,727,878.00
829,758,50
23,935.00
445,462
1,741,655,00
1,117,136
53,255.50
866,775,00
1,118,600
68,762.50
1,593,780,00
414,190, 50
296,600
$1,225,000
1,406,650,00
215,975,00
4,910,000.
5,117,750,00 1,278,375,00 $265," 598"
6,279,600
7,451,575,00 7,839,287,50
5,180
6,192,150
102
7,540,255.00 6,024,927,50
13,092,710
. 120
849,200,00
22,495,550 . 726,200.00
4,259,900
27,560,100
2,950.00
3,675,00
1,541
27,397,355
4,877.50
3,738,75
1,987
27,.,927,975
5,487.50
3,243,75
960
27,574,100
2,750.00
4,075,00
1,097
28,470,039
4,519.50
3,859,75979
28,136,875
2,637,50
2,218, 75
28,697,767
3,065.00
3,632,50
31,423,886
2,943.00
1,471,50
33,611,710
2,855.00
2,677,50
31,990,833
6,416.50
306,708.25
34,651,811
6,355.50
3,177.75
38,043,004
6,295.00
20,147. 50
23,562,735
100,300.00 1,551,150,00
6,333,245 11,052,136.50 2,960,331,00
1,455,792 2 4,002,896.00 3 2,583,83L75
3,093,972
3,667,831.00 2,233,448,25
862,880
2,354,652.00 2,255,390,25
19,876,762
1,507,855.00 1,386,700,25
12,651,731
2,023,315.50 2,524,440,00
14,426,735
3,094,642.50 3,497,331.75
15,182,846
4,474,628.50. 3,994,21L50
4 25,010,912
5,033,617.00 3,822,874,2522,566,813
3,119,928.50 2,644,369,25
18,160,777
4,454,723.50 4,617,589.00
10,343,755
3,149,763.50 3,551,516.00
8,812,650
2,331,654.00 3,011,203.25
1,830,863,50 2,020,562.50
5,426,414.50 2,248,168.75
5,825,587,50 3,899,143.75
5,819,686, 50 4,262,136.25
-J
2,529,025,00 4,110,662.50
/
r
35,965,924
578,353,848 185,234,355.50 96,029,472.75
Dimes.
Three
. cents.
$8,376,184.10 $4,529,818,90 $1,281,762.90
52,150.00
26,830.00
120.00
109,371.00
82,493.00
127.80
261,045.00
189,247.50
58,50
. 443,329.10
51,830,00
18,00
319,151.70
2,406,570.00
3,015,115.00
1,735,051.00
187,880.00
1,510.00
3,735,50
2,497o50
391,110.00
767,57L20
393,134.90
257,711,70
658,409,40
1,573,838.90
721,648.70
835,338.90
1,133,461.70
2,304,671.60
1,695,365.50
759,219.30
205,099.60
225,088,00
318,581,80
1,287,810,80
2,015,324,20
2,409,833.90
2.477,918.20
2,507,350,00
2,795,077,70
2,829,405,50
1,540,102.70
2,480,754,90
2,976,504.60
3,453,704,50
2,309,954.50
1,448,165.00
271,000 59,685,747.60 4,880,219,40
4 Includes 50,000 Lafayette souvenir dollars.
5 Louisiana Purchase Exposition.
6 Lewis and Clark Exposition.
Half
dimes.
1,282,087,20
342
REPORT ON T H E FINANCES.
N o . 27.—^COINAGE OF T H E M I N T S OF THE U N I T E D STATES
RECAPITULATION—Contmued.
Minor coinage.
Calendar years.
Five cents.
1793-1795
.•
1796
1797
1798
1799.........-'...
:
1800
1801
:
1802
'
1803 . . .
.
. . . .
1804
:..:
1805
.
.
1806
1807
.
1808
1809
.
1810
1811
1812
1813
1814
:..
1815.. .
.
. . . .
1816
•
:
: -.
1817
1818-.-.
1819.
'
1820
:.
-.-•.
1821
1822
.
.
1823-1
:.:...
1824
• .
.
.
. .• .
1825
1826
1827.
:.--1828
:
1829
1830
:
1831 . . .
1832. 1833 .:
1834
-.:
1835
:
1836
1837.
:
1838
1839
1840
'.
1841
1842
1843
^
1844
.
1845
-1846
. . . . .
1847
1848
1849.
: -.
1850
1851
1852
1853
1854..
:.
....
1855 . . .
1856
1857
1858
1859
:
I860
1861
1862
1863.
.
1864
i
:
1865
...
1866.....
.... .....
1867... . . .
'.
1868
.
1869...
Carried forward
T h r e e cents.
T w o cents.
J
>
*
1
$737,125.00
• 1,545,475.00
1,440,850,00
819,750.00
4,543,200.00
$341,460,00.
144,030,00
117,450,00
97,560,00
48,120.00
$396,950 00
272,800.00
63,540.00
58,775.00
56,075,00
30,930.00
748,620.00
879,070.00
343
DIEECTOR OF M I N T .
PROM T H E I R O R G A N I Z A T I O N ,
B Y CALENDAR
YEARS^CODtinued.
RECAPITULATION-Continued.
T o t a l coinage.
Minor coinage.
Total value.
. Cents.
$10,660.33
9,747.00
8,975.10
9,797.00
9,045.85
28,221.75
13,628.37
34,351.00
24,713.53
7,568.38
9.411.16
3; 480.00
7,272.21
11,090.00
2,228,67
14,585,00
2,180,25
10,755,00
4,180.00
3,578.30
Half cents.
$712.67
577.40
. 535.24
60.83,
1,057.65
71:8.3
489. 50
.5,276.56
4,072.32
1,780.00
2.380.00
2,000,00
5,772.86
1,075.00
315,70
28,209.82
.39,484,00
31,670,00
26,710,00
44,075,50
3,890,00
20,723.39
12,620.00
14,611.00
15,174.25
23,577.32
22,606.24
14,145.00
17,115.00
33,592.60
23,620,00
27,390,00
. 18,551,00
38,784,00
21,110,00
.55,583,00
63,702.00
31,286.61
24,627.00
15,973,67
23,833,90
24,283,20
23,987,52
38,948,04
41,208,00
61,836,69
64,157,99
41,785,00
44,268,44
98,897.07
50,630.94
66,411.31
42,361.56
15,748.29
26,904.63
177,834.56
246,000.00
364,000,00
205,660,00
101,000,00
280,750,00
498,400,00
529,737,14
354,292.86
98,265:00
98,210.00
102,665.00
. 64,200.00
4,680,577.44
315.00
1,170.00
3,030.00
2,435.00
11.00
770.00
600.00
705.00
1,990.00
199,32
199.06
738,36
648,47
276,79
282.50
202.15
175.90
9,926.11
Gold.
$71,485.00
77,960.00
128,190,00
205,610,00
213,285,00
317,760.00
422.570.00
423,310.00
258,377,50
258,642,50
170,367,50
324,505,00
437.495,00
284,665,00
169,375,00
501,4.35.00
497,905.00
290,435.00
477,140.00
77,270.00
3,175.00
242, 940.00
2.58, 615.00
1, 319.
,030.00
189; 325.00
• 88;980,00
72; 425,00
. 9 3 200,00
',
156, 385,00
92, 245,00
131, 565,00
140, 145,00
295, 717,50
643, 105,00
714, 270,00
798, 435,00
978, 550,00
3,954, 270,00
2,186, 175,00
4,135, 700,00
305,00
1 , 148,
1,809, 765,00
1,376,847.50
1,675, 482.50
I,09i; 857.50
1,829, 407.50
8,108, 797.50
5,427, 670.00
3,756, 447.50
4,034, 177.50
20,202, 325,00
3,775, 512.50
9,007, 761,50
31,981, 738,50
62,614, 492.50
56,846, 187:50
39,377, 909.00
25,915, 962.50
29,387, 968.00
36;857, 768.50
32,214, 040.00
22,938, 413.50
14,78O3 570.00
23,473, 654.00
83,395, 530.00
20,875, 997.60
22,445, 482.00
20,081, 415.00
28,295, 107.50
31,435, 945.00
23,828, 625.0019,371,387.50
17,582, 987.50
729,047,572.50
Silver.
$370,683.80
77,118.50
. 14,550.45
330,291.00
423,515.00
224.296.00
74,758.00
58,343.00
87,118.00
100,340.50
149,388,50
471,319,00
597,448,75
684,300,00
707,376.00
638,773.50
608,340.00
814,029.50
620,951.50
561,687.50
17,308.00
28.575.75
607,783.50
1,070,454.50
1,140,000.00
501,680.70
825,762.45
805,806.50
895,550.00
1,7.52,477.00
1,564,583.00
2,002,090.00
2,869,200.00
1,575,600.00
1,994,578.00
2,495,400.00
3,175,600.00
2,579,000.00
2,759.000,00
3,415,002.00
3,443,003.00
3,606,100.00
2,096,010,00
2,333,243.40
2,209,778,20
1,726,703,00
1,132,750:00
2,332,750,00
3,834,750; 00
2,235,550.00
1,873,200.00
2,558,580.00
2,374,450.00
2,040,050.00
2,114,950.00
1,866,100.00
774,397.00
999,410,00
9,077,571,00
8,619,270.00
3,501,245,00
5,142,240.00
'5,478,760.00
8,495,370.00
3,284,450.00
2,259,390.00
3,783,740.00
1,252,516.50
809,-267.80
609,917.10
691,005:00
982,409.25
908,876.25
1,074, .343.00
1,266,143.00
136,478,368.40
Minor.
$11,373.00
10,324.40
9,510.34
9,797.00
9,106.68
29,279,40
13,628.37
34,422.83
25,203.03
12,844.94
13,483.48
5,2C0.00
9,652.21
13,090,00
8,001.53
15; 660.00
2,495,95
10,755.00
4,180.00
3,578.30
12, 620.00
14, 926.00
16,
,344.25
23: 577.32
25; 636.24
16, 580.00
17, 115.00
33, 603.60
23; 620.00
28; 160.00
19, 151.00
39, 489.00
23: 100.00
65; 583.00
63, 702.00
31, 286.61
24, 627.00
15, 973.67
23, 833.90
24, 283.20
23, 987.52.
38, 948,04
41, 208,00
61, 836,69
64, 157.99
41, 984.32
44, 467.50
99, 635.43
50, 630.94
67, 059.78
42, 638.35
16, 030.79
27, 106.78
178, 010.46
- 246,000.00
364, 000.00
205, 660.00
IOL 000.00
280, 750.00
498, 400.00
926, 687.14
968, 552.86
1,042,960.00
1,819,910.00
1,697, 150.00
963, 000.00
$453, 541.80
165, 402.90
152, 2,50.79
545, 698,00
645..906,68
571, 335, 40
510, 956,37
516, 075,83
370, 698,53
371, 827.94
333, 239.48
801, 084.00
1,044, 595,96
055,00
752.53
1,155,868.50
1,108,740.95
1,115,219,50
1,102,271,50
642, 535,80
20, 483.00
56, 785.57
647, 267.50
1,345,064.50
I,425,325.00
1,864,786.20
1,018,977.45
915, 509.89
967, 975.00
1,858,297.00
1,735, 894.00
2,110,679,25
3,024,342,32
1,741,381,24
2,306,875,50
3,155,620,00
3,923,473,60
3,401,055,00
3,765,710,00
7,388,423,00
5,668,667.00
7,764.900.00
3,299;898.00
4,206,710,40
3,617,912. 31
3,426,812.50
2,240,581.17
4,185,991.40
11,967,830.70
7,687,207.52
5,668,595,50
. 6,633,965.54
22,638, 611,69
6,879,720.49
11,164, 695.82
33,892, 306.00
63,488, 524.93
57,896,228.44
48,522, 539.78
34,577, 870.85
32,905, 243.79
42,027; 115.28
37,870,810. 46
31,679,783.50
18,429,020,00
25,938, 704,00
87,280,270,00
22,409,264.00
S3,753, 149.80
21,618,019.24
29,954,665.36
33,461,314.25
26,557 411.25
22^142 880.50
19,812; 130.50
10,891,393.55
876,417,334.45
28,209.82
39,484.00
31,670.00
26,710.00
44,075,50
3,890,00
20,723.39
344
REPORT ON T H E FINANCES.
No. 2 7 . — C O I N A G E OF THE MINTS OF THE U N I T E D STATES
RECAPITULATION-Continued.
..
-
Minor coinage.
Calendar y e a r s .
Five cents.
$4,543,200.00
240,300.00
28,050.00
301,800.00
227,500.00
176.900,00
104; 850,00
126,500,00
Brought forward...
1870I87I
1872. - -.
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888-'.
1889
1890.
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905.
1906
1907
1908
1909.
--
-
.
- . -
$748,620.00
40,050.00
18,120.00
25,860.00
35,190.00
23,700.00
6,840.00
4,860.00
117,50
1,455,00
997,75
3,618,75
573,830,00
1,148,471,05
563,697,10
73,824,50
166,514,50
763,182,60
536,024,15
794,068,05
812,963,60
841.717,50
584,982,10
668,509,75
270,656,60
• 498,994.20
442,146,00
1,021,436,75
626,604,35
1,301,451,55
1,362,799,75
. 1,324,010,65
1,574,028.95
1.400,336,25
i;070,249,20
1,491,363,80
1,930,686.25
1.960,740,00
i : 134,308.85
'579,526,30
70.50
1,236.00
748.65
32,417.25
759.00
318.27
169.26
143.70
128.70
238.83
1,232.49
646.83
31,272,413:35
941,349,48
T w o cents.
$879,070.00
17,225.00
14,425. 00
1,300.00
--
.
. .
----.--.
-...--
..--
.-.--. .
. . . . . . . . . .
-
T h r e e cents.
- -
:
:
Total.........
--
----
912,020.00
345
DIRECTOE OF M I N T .
PROM THEIR ORGANIZATION, BY CALENDAR YEARS—Continued.
RECAPITULATION-Continued.
Total coinage.
Minor coinage.
Total value.
Gold.
Cents,
$4,680, 577,44
52, 750,00
39, 295,00
40, 420.00
116, 765,00
141, 875,00
135, 280,00
79, 440,00
8, 525,00
57; 998, 50
162, 312,00
389; 649,55
115,75
392; 811,00
385; 981,09
455; 617,42
Silver.
$39,926,11
$729,047,572.50
23,198,787,50
21,032,685,00
21,812,645,00
57,022,747,50
35,254,630.00
32,951,940,00
46,579,452,50
43,999,864,00
49,786,052.00
39,080,080,00
62,308,279.00
•96,850,890.00
65,887,685,00
29,241,990,00
23,991,756,50
27,773,012,50
28,945,542.00
23,972,383,00
31,380,808,00
21,413,931,00
20,467,182,50
29,222,005,00
34,787,222.50
56,997,020.00
79,546,160,00
59,616,357,50
47,053,060,00
76,028,485,00
77,985,757,50
111,344,220,00
99,272,942,50
101,735,187,50
47,184,852.50
43,683,792.50
233,402,400.00
400.00
- 49,638,
78,793,045.00
131,907,490,00
131,638,632.50
88,776,907.50
$136,478,368,40
1,378,255,50
3,104,038.30
2,504,488. 50
4,024,747. 60
6,851,776.70
15,347;893,00
24,503;307,50
28,393;045,50
28,518,850,00
27,569;776,00
. 27,411,693.75
27,940,163.75
27,973,132,00
29,246,968.45
28,534,866.15
28,962,176.20
32,086,709.90
35,191,081,40
33,025,606,45
.35,496,683,15
39,202,908,20
27,518,856, 60
12,641,078.00
8,801,739.05
9,200,350.85
5,698,010.25
23,089,899.05
18,487,297,30
23,034,033,45
26,061,519.90
36,345,321.45
30,838;460.75
30,028;167.20
19,874,440.00
15,695,609,95
6,332;180.90
10,651,087.85
13,178,435.75
12,391,777,25
8,087;852.50
$10,891,393.55
350,325,00
.99,890,00
369,380,00
379,455,00
342,475,00
246,970,00
210;800,00
8,525,00
58,186,50
165,003,00
391,395,95
428,151,75
960,400.00
1,604;770.41
796;483.78
191;622.04
343; 186,10
1,215;686,26
912,200,78
1,283,408, 49
. 1,384;792,14
1,312;441,00
961;480, 42
1,134,931,70
438;177.92
430.56
. 882,
832,718.93
1,526,100.05
1,124,835,14
1,837,451,86
2,031,137,39
2,120,122,08
2,447,796.17
2,251,281.18
1,683,529,35
" 2,298,555,43
2,890,908,80
3,042;126.18
1,468,738,72
1,756;388,93
$876,417,334, 45
24,927,368,00
24,236,613,30
24,686,513, 50
61,426 950,10
42,448,881,70
48,546,803.00
' 71,293,560. 00
72,401,434.50
78,363 088.50
66,814 859.00
90,111 368,70
125,219,205,50
94,821 217,00
60,093,728.86
53,323,106,43
56,926,810.74
61,375,438,00
60,379,150,66
65,318,615.23
58,194,022,64
61,054,882,84
58,053.302. 60
.48,389;780.92
66,933,690.75
89,184,
77
66,196,798,31
70,975,677,98
96,041,882,35
102,144,626.09
139,243,191.76
137,649,401,34
134,693,770,33
79,660,815.87
65,809,513.08
.250,781 539,30
58,269,136.33
92,335 041. 65
• 148,128,051.93
145,499,148,47
98,621,148,93
-39,926,11
3,110,613,853,00
961,702,654,45
54,675,652.56
4,126,992,160.01
232, 653,84
117; 542,90
176, 264,83
452; 944.14
374, 693, 61
', 488; 828, 54
571; 723, 50
470; 498,32
376; 421, 95
466, 521.32
167; 436,36
. 383, 572.93
663.30
390, 230,79
504, 000.31
498, 337. 64
536, 111, 43
668, 767,22
796,
873; 944,93
850, 280.15
613; 191, 63
807, 222,55
960, 386,18
1,08L 429,87
334: 862,63
1,176!
21,509,943,62
Minor.
REPOET OF THE COMPTROLLER OF THE CIJRREFCY.
TREASURY DEPARTMENT,
OFFICE OF THE COMPTROLLER O F THE CURRENCY,
Washington, December 5, 1910,
S I R : I n compliance with the requirements of section 333 of the
Revised Statutes of the United States, the forty-eighth annual report
of the operations of the Currency Bureau for the year ended October
31, 1910, is herewith submitted.
CONDITION O F NATIONAL BANKS.
The resources and liabilities of national banks in active operation
at date of the periodical reports made to the Comptroller during the
past year are snown in detail in thq following table:
ABSTRACT OF R E P O R T S OF CONDITION OF NATIONAL B A N K S IN THE U N I T E D STATES
FROM N O V E M B E R 16, 1909, TO SEPTEMBER 1,1910.
Nov. 16, 1909— Jan. 31,1910— Mar. 29, 1910— June 30, 1910— Sept. 1,19107,006 banks.
7,082 banks.
7,173 banks.
7,045 banks.
7,145 banks.
RESOURCES.
Loans and discounts... $5,148,787,594. $5,229,503,475. $5,432,093,194. $5,430,159,180. $5,467,160,637.98
Overdrafts..
41,907,504.
25,743,314.
29,641,681.47
34,027,807.
31,914,337.
U. S. bonds to secure
circulation
676,149,300.
678,231,850.
683,990,000.
685,692,290.00
680,447,110.
U. S. bonds to secure
U. S. deposits...
37,904,500.
40,650,840.
41,191,870.
40,867,700.00
41,276,720.
Other bonds to secure
U. S. deposits
16,031,500.
10,698,817.
10,927,191.01
8,542,437.
13,230,813.
U. S. bonds on hand...
18,563,110.
15,708,530.
12,391,280.
14,042,110.00
14,060,780.
Premiums on U. S.
bonds
13,451,544.
11,921,325.
11,958,035.
11,224,658.
10,891,763.54
Bonds, securities, etc.. 870,365,125.
845,957,768.
847,423,044.
849,931,718.
854,127,665.04
Banking house, furniture, and fixtures.,;.
214,820,024.
204,476,086.
207,997,626.
211,382,902.
213,769,651.64
Other real estate owned
21,911,932.
21,600,257.
22,325,286.
21,643,346.
23,044,586.66
Due from national
banks (not reserve
agents)
439,309,749.56 401,129,230.26 404,468,409.41 386,920,952.34 378,295,162.56
Due from state banks
and bankers....
156,181,012.29 155,911,546.61 153,278,676.84 164,333,761.95 147,914,089.26
Due from approved
reserve agents
689,613,982.93 707,434,039.66 727,762,703.95 660,352,109.09 688,716,946.05
Checks and other cash
items
32,751,913.24
54,150,993.14
44,184,577.13 28,464,669.02
39,330,620.38
Exchanges for clearing
house
.
337,904,666.92 407,440^258.24 305,632,471.72 428,654,238.28 284,962,685.13
Bills of other national
banks
40,063,706.00
44,062,832.00
41,743,931.00
40,329,233.00
41,647,840.00
Fractional currency,
nickels, and cents...
2,693,029.82
2,854,545.26
2,936,032.44
2,964,612.65
2,906,840.89
347
348
REPORT ON T H E FINANCES.
ABSTRACT OF R E P O R T S OF CONDITION OF NATIONAL B A N K S IN T H E U N I T E D S T A T E S
FROM N O V E M B E R 16, 1909, TO SEPTEMBER 1, 1910—Continued.
N o v . 16,1909—
7,006 b a n k s .
J a n . 31,1910—
7,046 b a n k s .
Mar. 29,1910— J u n e 30,19I0—
7,146 b a n k s .
^7,082 b a n k s .
Sept, I , I9I0—
7,173 b a n k s .
RESOURCES—cont'd.
Gold coih $146,888,466.46 $147,112,214.37 $153,410,043.57 $151,129,890.66 $147,835,022.98
Gold T r e a s u r y certificates
- 231,238,870.00 246,717,650.00 233,997,400.00 225,092,390.00 246,404,370.00
Gold Treasury certifi41,610,000.00
48,735,000.00
cates (sec. 6 1 9 2 ) . . . . . . ,42,980,000.00
43,665,000.00
42,660,000.00
Clearing-house certifi70,975,000.00
67,102,600.00
76,423,000.00
cates
,
75,695,000.00
71,153,500.00
13,455,754.00
13,308,421.00
11,948,515.00
Silverdollars..
:.
12,864,262.00
13,272,076.00
Silver Treasury certificates
111,846.096.00 121,411,843.00 125,397,496.00 123*439,564.00 122,459,673.00
16,831,222.48
18,641,256.11
18,461,059.15
Silver fractional c o i n . . .
17,775,570.36
18,446,533,03
628,834,668.94
U.S
Total. .
660,678,716.40
661,799,771.93
644,343,854.77
672,626,646.13
176,026,076.00
172,400,153.00
173,095,815.00
176,429,038.00
179,058,491.00
32,746,842.84
32,493,481.79
32,484,951.64
32,983,643,05
33,121,208.34
6,133,500.31
Total specie.
Legal-tender notes
F i v e p e r cent r e d e m p tion fund
D u e from Treasurer
8,942,814,63
6,595,750.31
9,449,929.46
7,646,757.39
9,691,394,662.73 9,730,518,635.37 9,841,924,345.97 9,896,624,696.73 9,826,181,462.36
LIABILITIES.
Capital stock p a i d i n . . 953,963,472.81 960,124,895.76 972,819,559.77 989,567,114.00 1,002,735,123.26
603,246,750.20 619,828,370.75 626,912,645.05 644,857,482.82 648,268,369.97
S u r p l u s fund
U n d i v i d e d profits, less
expenses a n d t a x e s . . 222,499,416.82 199,342,084.39 225,590,971,55 216,546,125.10 225,769,399.63
National-bank
notes
668,393,996.60 667,501,134.00 669,18% 385,00 675,632,565.50 674,821,853.00
outstanding....
S t a t e - b a n k notes outstanding . . .
30,392.00
30,386.00
27,707.00
30,392.00
30,386.00
D u e t o other n a t i o n a l
banks....
943,240,300.46 962,874,279.52 1,003,611,892.03 895,295,026.52 929,652,332.28
D u e t o state b a n k s a n d
bankers
474,298,385.28 489,994,045.61 503,205,044.03 445,818,398,00 476,746,164.06
Due to trust companies.
a n d savings b a n k s . . . .420,677,189.30 473,010,366.51 442,301,487.71 517,781,754,95 499,646,687.85
D u e t o a p p r o v e d re41.240,442,54
37,647,487.76
48,144,388.63
38,882,328,40
40,719,184.89
serve agents
1,326,154.84
Dividends unpaid
15,144,463.48
1,488,516,93
2,689,721.61
1,168,415.41
I n d i v i d u a l deposits
5,120,442,963.08 5,190,835,219.41 5,227,851,556,10 5,287,216,312.20 5,145,658,367.65
36,309,858.54
U . S. deposits
34,267,339.84
35,247,716.74
42,048,421.47
36,557,845.71
Deposits of U . S. dis13,850,642.09
12,492,927.94
12,886,066.62
b u r s i n g officers
.
12,610,175.20
13,649,005,53
34,574,822.00
35,617,680.84
34,949,919.39
35,143,130.00
34,619,047.35
B o n d s borrowed
Notes a n d bills redis14,018,630,85
18,867,294.33
8,929,367.87
6,356,123.10
counted
7,900,041.47
55,683,227.19
72,847,849.63
34,862,912.45
Bills p a y a b l e
33,907,470.86
27,718,183.71
6,445,179.84
5,677,834,57
Reserved for taxes
5,004,477.69
2,849,221.69
3,522,027.42
Liabilities other t h a n
1,987,268.74
those above s t a t e d . . .
2,888,903.94
2,381,083.33
1,955,902,76
2,855,446.66
Total
. . 9,591,394,662.73 9,730,518,635.37 9,841,924,345.97 9,896,624,696.73 9,826,181,462.36
Since September i , 1909, there has been a net increase in the number of national banks of 196 and in aggregate resources of $252,227,075.52. At date of first call during the report year, namely, November 16, 1909, there were 7,006 national banks with aggregate resources
of $9,591,394,662.73. On January 31, 1910, the resources had
increased to $9,730,518,635.37; on March 29, to $9,841,924,345.97,
reaching the maximum during the year on June 30 of $9,896,624,696.73. The September 1 call showed a decrease of $70,443,244.37,
or to $9,826,181,452.36.
The banks' loans and discounts, representing over 55 per cent of
their assets, amounting to $5,128,882,351.18 on September 1, 1909,
increased to the extent of $19,905,243.52 by November 16 and by
$80,715,880.70 January 31, 1910. The greatest increase during the
year was between January and March 29, t h e amount of increase
being $202,589,719.24, when the total amount of loans was $5,432,093,194.64. By June 30 the loans had decreased slightly, but only"
COMPTROLLER
OF T H E
349
CURRENCY.
to the extent of $1,934,007.89. On September 1, the date of the last
report in the year, the loans reached the maximum for the year and
for any prior date in the history of the national-banking system,
namely, $5,467,160,637.98.
The net increase in loans and discounts between September 1, 1909,
and September 1, 1910, was $338,278,286.80.
I n the reports of condition of national banks, loans and discounts
are divided into five classes, namely: On demand, with one or more
individual or firm names; paper secured by stocks, bonds, and other
personal securities; on time with two or more nameS) single name
without other security; on time, secured by stocks, bonds, and other
personal securities, including mortgages or other liens on realty. On
September 1, 1910, the single-name demand paper amounted to $524,306,11'7; on demand, secured by stocks, etc., $939,111,340; on time,
two or more name paper, $1,842,517,150; on time, single-name paper,
$1,068,278,898; on time, secured by bonds,^etc., $1,092,947,132.
The demand paper represents 26.8 per cent of the total; on time,
two or more names, 33.7 per cent; on time, single name, 19.5 per cent;
and all other time loans, 20 per cent.
That the relative proportion of each class of loans, is attended with
very little change is evident from the accompanying comparative
statement taken from the reports of dates September 23, 1908, September 1, 1909, and September 1, 1910:
1908.
Class.
Amount.
On demand, paper with one or more
individual or firm names
On demand, secured by stocks,
bonds, and other personal securities.
On time, paper with two or more
individual or firm names.
On time, single-name paper (one
person or firm) without other
security
On time, secured by stocks, bonds,
and other personal securities, or
on mortgages or other real-estate
security
Total.
1910.
1909.
Per
cent.
Amount.
$395,892,695 . 8,3
922,701,718
. $524,306,117
$441,529,690
19,4
1,582,391,359
33,3
957,349,934
Per
cent.
Per
cent.
9.6
18.7
939,111,340
17.2
1,698,467,691 33.2
1,842,517,150
33.7
19.6
• 852,176,044
971,477,968
1,068,278,898
997,450,914
4,750,612,730
1,060,057,068
5,128,882,351
1,092,947,132
5,467,160,637
Amount and relative proportion of loans in the national banks in
New York, in the three central reserve cities, in other cities, and in
banks located elsewhere, on September 1, 1910, September 1, 1909,
and September 23, 1908, are shown in the following table:
S e p t e m b e r 1,1910.
Loans.
Banks i n -
Amount.
New York
New York
Chicago St. Louis
O t h e r reserve c i t i e s . . .
All reserve cities
Countrv
S e p t e m b e r 1,1909.
'
Per
cent.
S e p t e m b e r 23, 1908.
Loans.
Loans.
Amount.
Per
cent.
Amount.
Per
cent.
$873,880,860
..
$925,653,623
18.0
$905,653,475
19 06
23,3
1,306,785,530
25.5
1,242,980,123
26 16
1,454,442,384
Total
16.0
: 1,276,992,285
. .
26.6
1,372,311,584
26.7
.1,231,756,966
25 93
2,731,434,669
2,735,725,969
49,9
50.1
2,679,097,114
2,449,785,237
52,2
47,8
2,474,737,089
2,275,875,641
52.09
47 91
5,467,160,638 100,0
5,128,882,351 100.0
4,750,612,730 100.00
350
REPORT ON T H E FINANCES.
Approximately about one-sixth of the loans of all national banks
are made by associations located in the city of New York, and the
following statement shows the amount and character of such loans
on comparable dates from 1905 to 1910^ inclusive:
Aug, 25,1906, S e p t . 4,1906. A u g . 22,1907. Sept. 23,1908. Sept. 1,1909, S e p t , I , I9I0.
. L o a n s a n d discounts.
pOn demand, paper
w i t h one or more
i n d i v i d u a l or
firm n a m e s
O n . d e m a n d , secured b y stocks,
b o n d s , a n d other
personal securities
On time, paper.
w i t h t w o or
m o r e individual
or firm n a m e s . .
O n tim-e, singlen a m e p a p e r (one
person or finn).
without o t h e r
securities
O n t i m e , secured
b y stocks, bonds,
a n d other personal securities.
or on real-estate
mortgagesor
o t h e r liens on
realty
Total
42 b a n k s .
40 b a n k s .
38 b a n k s .
37 b a n k s .
38 b a n k s .
39 b a n k s .
$11,393,926
$10,676,198 $16,254,018,22
$0,800,529
$7,708,853
$9,948,094
385,652,0.4
292,251,532 251,867,157.84
r.374,548,964
385,430,495
328,145,065
1.35,669,910
137,991,340 161,108,403.21
146,194,094
145,989,671
176,608,890
115,961,886
111,172,734 130,477,323.47
132,737,553
163,098,915
»
170,708,006
V
»
156,987,276
149,^59,233 152,414,166.99
245,372,335
223,425,689
188,470,806
805,665,012
702,051,037 712,121,058.73
905,653,475
925,653,623
873,880,860
In the following, table is shown the amount and classification of
loans of all national banks on approximate dates during the past
ten years:
Date.
Sept.30,1901...........
S e p t . 15,1902
S e p t . 9, 1903
Sept. 6,1904
Aug. 25, 1905.
Sept. 4, 1 9 0 6 . . . . .
Aug. 22, 1907
Sept. 23, 1908-..
S e p t . 1, 1909.
S e p t . 1,1910
O n deOn time,
Ondem a n d seO n t i m e , . singlem a n d , pa- eu red ^by
paper with name paper
Numper w i t h
stocks,
(one person
t w o or
ber of
one or
bonds, and more indior firm),
b a n k s . m o r e indi- other perwithout
v i d u a l or^
v i d u a l or sonal secu- firm n a m e s . other secufirm n a m e s .
rities. ,
rity.
4,221
4,001
5,042
5,412
5,757
6,137
6,544
6,853
6,977
7,173
MUlions.
$21L6
237,3
283,1
279.8
320.1
374,7
428,2
395.9
441,5
524,3
Millions.
• $665.7
706,9
717,3
818.9
854.1
828.0
832.9
922.7
957.3
939.1
Millions.
$1,087,0
1,176,4
1,267.5
1.316.7
1,382.2
1,502.0
1,648,7
1,582.4
1,698.4
. 1,842,5
Millions.
$468,2
517.1
558.1
61L0
6S9.1
776.1
899.5
852.1
971.5
1,068.3
On time,
secured b y
stocks,
bonds, and
other personal securities, or on
mortgages
or other
real e s t a t e seciirity.
Total.
Millions.
$586,1
642.4
655.4
699.7
753.0
818,1
869,2
997,5
1,060.1
1,09.3.0
Millions.
$3,018.6
3,280.1
3.48L4
3,720.2
3,998.5
4,299,0
4,678.5
4,750.6
5,128.8
5,467.2
UNITED STATES AND OTHER BONDS OWNED BY NATIONAL BANKS.
The banks' investments in United States bonds have increased
from $731,028,110 on September 1, 1909, to $740,592,100 on September 1, 1910, a net mcrease of $9,563,990, One-third pf the
351
COMPTROLLER OF T H E CURRENCY.
increase, or $3,018,950, occurred between June 30 and September 1,
1910. Approximately 92 per cent of the government bonds held by
the banks is in bonds on deposit as security for circulation and the
remainder held by the Treasurer as security for deposits except the
amount in the banks' vaults. On September 1, 1910, United States
bonds on deposit to secure public deposits amounted to $40,857,700
and those held in their vaults $14,042,110. On September 1,, 1909, the
premium on United States bonds as shown by the banks' reports
aggregated $14,721,196.01, and had been reduced by September 1,
1910, to $10,891,763.54.
Bonds, securities, etc., other than United States bonds, owned by
the banks on September 1, 1910, aggregated $865,054,855, less by
$51,325,445 than the amount held on wSeptember I, 1909. Included
in this class of assets on September 1, 1909, were $17,991,758.47
bonds on deposit with the Treasurer to secure public deposits. On
September 1, 1910, the amount of bonds deposited for tnis purpose
had been reduced to $10,927,191.01.
,
I n connection with the possible acceptance of bonds other than
governments for additional circulation under authority of the act of
May 30, 1908, the following comparative statenient of tho aggregate
amount of bonds owned by the national banks on September 1, 1909
and 1910, is of interest:
September 1Class.
1909.
State, county, and municipal bonds
Railroad bonds
."..
Other public service corporation bonds
All other bonds
Stocks (presumably taken for debt)
-.'
. Warrants, claims, judgments, etc
' Various securities with the Treasury as security for public deposits
Foreign government bonds
Other foreign bonds and securities
'.
...
Total........................
1910.
$155,811,290
342,525,224
151,999,513
170,650,569
34,347,814
22,408,161
17,991,758
13,11.5,621
7,530,350
$147,474,345
289,634,811
161,061,004
172,153,234
40,172,847
30,107,037
10,927,190
8,967,914
4,556,473
916,380,-300
865,054,855
In the appendix to the report of the Comptroller of the Currency
will be found a table containing details relative to investments in
assets of this character by national banks located in each of the
reserve cities and States.
Exchanges for clearing house, amounting to $329,725,534.43 on
September 1, 1909, increased to $407,440,258.24 on January 31,'1910,
decreased to $305,632,471.72 on March 29, increased to
$428,654,238.28 on June 30, and decreased to $284,962,685.13 on
September 1, 1910. The net decrease during the year was
$44,762,849.30. ^
Bills (circulating notes) of other national banks were held to the
amount of $40,204,902 on SeptembeT 1, 1909, reaching the maximum
of $44,062,832 on March 29, 1910, and declined to $41,547,840 on
September 1, 1910, which was $1,342,938 greater than on September
1,1909.
The banks' holdings of legal tenders vary to a comparatively
slight extent only. The holdings on September 1, 1909, amounting
to. $187,693,960, declined to ;$172,400,153, the minimum during the
352
REPORT ON T H E FINANCES.
year, on January 31, 1910. At the close of business on September
1, 1910, legal-tender notes were held amounting to $179,058,491.
The amount of gold and silver in the vaults of the banks
on September 1, 1909, was $666,397,897.38; on November 16,
$628,834,658.94; on January 31, 1910, $660,678,716.40; on March 29,
$661,799,771.93; on June 30, $644,343,854.77; on September 1,1910,
$672,626,546.13. The average amount of gold held by the banks,
as shown by each of the reports, was $504,694,219, and of silver
$151,086,071 or 76.96 per cent in gold and 23.04 per cent in silver.
LIABILITIES OF NATIONAL BANKS.
The aggregate liabilities of national banks reached their maximum
prior to the panic of 1907 on May 20 of that year, when they amounted
to $8,476,500,000, a sum not reached until May 14, 1908, when
they were reported at $8,594,600,000. Each report from that date
until June 30, 1910, shows a steady and material increase, the maximum being reached on the date last mentioned, when the total was
reported as $9,896,600,000. Between this date and September 1
there was a decrease in the banks' liabilities of $70,243,000, the
decrease being mainly in individual deposits.
The liabilities of banks, exclusive of the amounts due depositors,
other creditors, and holders of circulating notes, represent approxi;
mately 20 per cent of the aggregate liabilities and consist of capital,
surplus, and other undivided profits. On Septeinber 1, 1909, the
paid-in capital amounted to $944,642,067, the surplus fund
$597,981,875.93, and other undivided profits $203,756,438.40. .
The capital steadily increased, as shown by each report during
the year, to $1,002,735,123.25 on September 1, 1910. This is the
maximum amount of paid-in capital stock of national banks shown
by any report during the existence of the system. The increase in
capital was attended by approximately a corresponding increase in
surplus, rising from $597,981,725.93 on September 1, 1909, to
$648,268,369.97 on September 1,1910. The undivided-profit account
is more fluctuating and varied during the year from a minimum of
$199,342,048.39 on January 31 to a maximum of $225,769,399.53 on
September 1, 1910. The net increase in capital during the year—
that is, between September 1, 1909, and September 1, 1910—was
$58,093,056.25, surplus $50,2.86,449.04, and undivided profits
$22,012,961.13.
There has been relatively small fluctuation in ths amount of United
States deposits and deposits of United States disbursing ofiicers during the year, though a net increase of $1,455,617.36 is shown. These
funds on September 1, 1909, amounted to $48,704,883.27, and on
September 1, 1910, to $50,160,500.63. Bills payable reached the
lowest point during the year on January 31, 1910, amounting at that
time to $27,718,183.71, and reaching the maximum, $72,847,849.63,
on September 1, 1910. The increase on the latter date,, as compared
with September 1, 1909, was $36,618,871.34. The volume of notes
and bills rediscounted was at its minimum and maximum on the
same dates as bills payable, the extremes being $6,356,123.10 and
$18,867,294.33. Comparing September 1, 1910, with the year prior,
there is shown to have been a net increase in rediscounts of
COMPTROLLER OF THE CURRENCY.
353
$4,787,122.72, and a net increase in bills payable and rediscounts of
$41,505,994.06.
„,
. ^
The individual deposits steadily increased during the/year from
$5,009,893,079.79 on September 1, 1909, to $5,287,216,312.20 on
Juhe 30, 1910, but between the latter date and September 1 there
was a decrease of $141,557,944.55, the amount on deposit at the latter date being $5,145,658,367.65. Comparing the returns on September, 1909, with those of September, 1910, there is shown to have
been a net increase in individual deposits of $135,765,287.96.
Prior to March 29, 1910, while the individual deposits were classified in the reports made by the banks, the details were not incorporated in the abstracts. The expressed interest in this feature of the
report was an inducement to the publication of the information in
detail, and there is submitted herewith the amount of each class of
individual deposits on March 29, June 30, and September 1, 1910.
1910.
Mar. 29.
.
Individual deposits subject to check
Demand certiflcates of deposit..
Time certificates of deposit
Certified checks . . .
Cashier's checks outstanding
.
$4,241,776,292.93 $4,236,249,832.72
390,824,219.94
400,673,229.53
414,548,055,91
433,599,541.20
114,834,809,84
145,580,519.98
65,868,177,48
71,113,188,77
5,227,851,556,10
Total
June 30.
5,287,216,312.20
Sept.i.
$4,192,908,965.73
392,504,666.10
433,234,678.63
71,220,386.90
55,789^670.29
5,145,658,367.65
Beginning with the call of November 27, 1908, an effort was made
to ascertain the extent to which so-called ^'savings deposits" are held
by national banks, in view of the fact that a number of associations
conduct savings departments and others carry deposits classed as
'^savings accounts," although not in a special department. I t further appears that in savings deposits are included both time and
demand certificates. The question as to what should be reported as"
savings deposits has been the occasion of considerable correspondence,
but the conclusion was reached that it was a question to be determined by the bank upon the advice that ^^alldeposits accepted with
the understanding between the officers of the bank and the depositors
that they were savings deposits" should be so reported., The same
question was raised in connection with the preparation of blanks for
use by the National Monetary Commission in obtaining returns from
the banks under date of April 28, 1909. The schedule provided Ifor
reporting deposits included the item ^ savings deposits," and the
^
latter were characterized by the commission as—
^ Deposits (a) which may be withdrawn on presentation of the pass book, or other
similar form of receipts which permits successive deposits or withdrawals to be entered
thereon; or (6) wliich at the option of the depositary may^ be withdrawn only at the
expiration of a stated period after notice of intention to withdraw has been given; or
(c) upon which no interest is allowed until the funds have remained on deposit for at
least three nionths.
,
., ^
~
Beginning with the call of January 31, 1910, information was submitted with respect to the number of savings depositors, in addition
to the amount of savings deposits.
65872°—i^i 1910
23
354
REPORT ON T H E
FINANCES.
While* the following statement, relating to the number of savings
depositors from January 31 to September 1, 1910, and amount of savings deposits from September 1, 1909, to September 1, 1910, indicates
an increase in the volume of savings deposits in national banks, it is a
question as to whether the apparent increase was not due to fuller
returns rather than to an actual increasein deposits of this character.
The number of banks reporting savings deposits increased from 2,010
on September 1, 1909, to 2,852 on September 1, 1910.
The number of reported savings depositors and amount of savings
deposits on the dates indicated are as follows:
Date.
September 1,1909..
November 16, 1909.
January 31, 1910....
March 29, 1910
June 30, 1910
September 1,1910..
Number of
depositors.
1,865,085
2,069,141
2,087,583
2,103,594
Amount of
deposits.
$376,642,615.72
389,406,310,52
524,604,578,71
543,133,362.15
580,889,677.65
582,472,427.33
RESERVE AND DEPOSITS.
The original law required the maintenance of a reserve on deposits
in all respects, but an exception was made with respect to United
States deposits in the act of May 30, 1908. I n determining the
amount oi deposits on which reserve is required to be held there is
first ascertained the net balance due to other banks, to which are
added dividends unpaid, individual deposits, and deposits of United
States disbursing officers. From this gross amount the following
deductions are allowed: Checks on other baiiks in the same place,
exchanges for clearing house, bills of other national banks, and
amount due from the Treasurer of the United States. The resultant
. amount of these deductions represents the sum of the deposits upon
which is based the required reserve; that is, 25 per cent for reserve
city banks and 15 per cent for all other banks. The amount of the
reserve being determined, there is deducted therefrom the 5 per
cent redemption fund which the law authorizes to be counted as a
part of the reserve. The 25 per cent reserve required by central
reserve city banks must consist of lawful money in bank; in other
reserve city banks at least 12-^ per cent in bank, with a limit of 12^
per cent with approved agents in central reserve city banks. Banks
located elsewhere than in reserve cities are required to maintain a
reserve of 15 per cent, of which at least two-fifths, or 6 per cent, must
be in cash in bank and three-fifths, or 9 per cent, may be'on deposit
with correspondents in central or other reserve city banks.,
While occasionally a bank is deficient in the amount of reserve
required, the aggregate reciuirement for all banks is rarely deficient.
During the period covered by the six calls ended September 1, 1910,
the central reserve city banks, on deposits aggregating $1,500,000,000,
held on four dates reserve in excess of the requirement ranging from
$2,700,000 to $25,400,000, the maximum amount being held on
September 1, 1910. On March 29, 1910, the average reserve in
these banks was 24,92 per cent, a deficiency of $1,245,567, and on
COMPTROLLER OF T H E CURRENCY.
355
June 30, 1910, 24.96 per cent, a deficiency of $614,823. The deposits
in other reserve city banks during the same period averaged approximately $1,700,000,000, and the percentage of reserve ranged from
a minimum of 27.25 per cent on June 30, 1910, to a maximum of
29.05 per cent on September 1, 1909, the excess on the same dates
being $38,700,000' and $69,500,000. On deposits averaging for the
six calls approximately $3,000,000,000, the country banks—that is,
. those located elsewhere than in reserve cities—held a reserve ranging
from a minimum of 22.57 per cent on June 30, 1910, to a maximum
of 24.58 per cent on September 1, 1909, the amount of reserve in
excess of requirement for the same dates being $227,800,000 and
$270,100,000, respectively, the average deposits slightly exceeding
$6,100,000,000. Based on the several calls from September 1, 1909,
to September 1, 1910, for all banks in the country the reserve varied
from a minimum of 24.44 per cent on June 30, 1910, to a maximum
of 26.05 per cent on September 1, 1909, the excessive amount on the
first date named being $265,900,000 and on the last $346,900,000.
The foregoing percentages and excessive amounts are based on the
aggregate amount of the following items: Cash on hand, due from
reserve agents, and amounts held in the redemption fund. Confining the statistics with respect to reserve held to cash in ^bank,
redemption fund, and amount available with reserve agents, the
latter not exceeding 50 per cent of the net reserve required in reserve
city banks and 60 per cent in country banks, the lawful reserve held
by other reserve city banks exceeded the requirement on every date,
ranging from a minimum of 25.27 per cent on March 29, 1910, to a
maximum of 25.65 per cent on September 1, 1909. On the same
basis the reserve held by country banks varied from a minimum of
16.88 per cent on September 1, 1910, to a maximum of 17.08 per
cent on September 1, 1909. Taking the country as a whole, the
lawful money reserve exceeded 21 per cent on the date of each call
by a fraction of 1 per cent, th.e minimum rate being 21.21 per cent
on March 29, 1910, and the maximum of 21.67 per cent on September
1,1909.
The entire reserve required to be held by central reserve city banks
is in lawful money with the exception of the redemption fund, which
averages approximately one-fourth of 1 per cent. In other reserve
city banks the lawful money reserve slightly exceeds 51 per cent, the
amount available with reserve agents 47 per cent, and the redemption fund slightly less than 2 per cent. The reserve held in lawful
money by country banks averages 45 per cent of the total reserve
held, the amount available with reserve agents averaging approximately 50 per cent, and the' amount in redemption fund slightly in
excess of 4 per cent. Taking the country as a whole, the lawful
money in bank is approximately 64 per cent of the total reserve held,
amount available with, reserve agents 34 per cent, and the redemption fund 2 per cent.
Aggregating the deposits subject to reserve in all national banks
and the items of reserve, it appears that the actual cash in bank—
that is, specie aiid legal tenders—averaged 13.4 per cent on the dates
of the reports from September 1, 1909, to September 1, 1910. The
amounts available with reserve agents averaged 7.04 per cent and
the redemption fund fifty-two one-hundredths of 1 per cent.
356
REPORT ON T H E FINANCES.
The percentages of legal and available reserve at date of' each
report for each class of banks beginning with November 16, 1909,
are shown in the accomp anying table:
Nov, 16,1909.
Mar. 29,1910.
Jan. 31,1910.
June 30,1910.
Sept. 1,1910.
Avail- Legal Avail- Legal Avail- Legal Avail- Legal Available
able
able
able
able
rerererererere- ,
reserve. serve. serve. serve. serve. serve. serve.
serve.
Classes of banks.
Per ct.
25.19
27.60
23.95
25.26
Central reserve city banks.
Other reserve city banks..
Country banks
All banks
Per ct.
25.88
25.53
16.97
21.47
Per ct.
•25. 88
28.00
23.94
25.52
Per ct.
24.92
25.27
16.96
21.21
Per ct.
24.92
27.92
23.83
25.24
Per ct.
24,96
25,30
17.07
21,22
Per ct.
24,96
27.25
22.57
24.44
Per ct.\ Per ct.
26,68 26.68
25,31
28,04
22.81
16,88
25.19
21,57
Loans and discounts. United States bonds, and lawful money represent approximately 70 per cent of the aggregate resources of national
banks, and a hke proportion of liabilities is represented by capital,
surplus and profits, and individual deposits. The relation of these
items has varied but slightly during the past ten years, as will be
observed by reference to the accompanying table:
Items.
1901.
Loans and discounts.
United States bonds.
Lawfulmoney
1902.
1903.
1904.
1905.
1906
1907.
' 1908.
1909.
1910.
Per ct. Per ct. Per ct. Per ct. Per ct. Per ct. Per ct. Per ct. Per ct. Per ct.
53,6
53.0
53.4
53.9
54,0
55.1
53.7
55.2.
55,8
52.6
7.6
7.9
7,8
7,4
7.9
7.5
. 7,8
7.9
7.6
8.6
8,9
7,2
8,4 . 9.6
9,5
8.9
7,9
8.6
8,3
8.8
70,3
69.5
72.6
68.5
70.2
69.3
72.0
70,1
70.1
71.9
Capital
Surplus and profits..
Individual deposits.
11,5
7.6
5L6
11.5
8.1
52.5
11,9
8,8
50.0
11,0
9,8
49.6
10.7
8,3
5L1
10.4
8.4
52.4
10.7
8.8
5L^
10.2
8,5
50,4
9.8
8.3
52.3
10.2
8.9
/52,4
Total . . .
70.7
72.1
70.7
70.4
70,1
7L2
70.9
69,1
70,4
71.6
Total
•
I n connection with the foregoing the following table is of interest
as showing the relation of capital, etc., to the principal items of
resources and liabilities on the dates indicated:
R A T I O OF CAPITAL, E T C , TO INDIVIDUAL D E P O S I T S , E T C , OF NATIONAL B A N K S ON
OR ABOUT OCTOBER 1, 1907, 1908, 1909, AND 1910.
Items.
1907.
1908.
1909.
1910.
Capital to individual deposits
Capital to loans
Capital to aggregate resources
Capital and surplus and other profits to
Individual deposits
Specie and legal tenders to individual
deposits
$1.00 to $4,82
LOO to 5,22
1,00 to 9,36
$1.00 to $4.94
1.00 to 5.16
LOO to 9,80
$i: 00 to $5.30
1.00 to 5.43
1,00 to 10,14
$1,00 to $5,13
1,00 to 5.45
LOO to 9,80
LOO to 2,65
LOO to 2,69
LOO to 2,87
LOO to 2,74
1,00 to 6.16
' 1,00 to 5,24
1,00 to 5,87
LOO to 6,04
VIOLATIONS OF THE PROVISIONS OF THE NATIONAL-BANK ACT.
Subsequent to the compilation of statistics based upon reports of
condition for each call, the reports are carefully examined for the
)urpose of ascertaining the extent to which the restrictions and
imitations of the national bank act have been violated, and a record
made of the number of such violations.
{
COMPTROLLER OF T H E
CURRENCY.
357
On June 22, 1906, section 5200 of the Eevised Statutes, relating
to the loan limit, was amended to permit of a loan to a single interest to the extent of 10 per cent of the capital and surplus, the aggregate, however, not to exceed in any case 30 per cent of the paid-in
capital. On January 29, 1906, the number of banks reporting loans
in excess of the lawful limit represented 56, per cent of the total
number of banks reporting. On January 26, 1907, the percentage
was reduced to 28.4, and on August 22 of that year to 20.5. Beginning with the call of February 14, 1908, and on the date of each
subsequent report during that year, the percentage of violations
varied from a maximum of 13.98 on September 23 to a minimum of
13.17 on November 27.
To the record relating to excessive loans has been added the percentage of banks violating the restrictions of law relating to loans
on real estate, reserve, and money borrowed, beginning with February 5, 1909, arid continuing to September 1, 1910^ the details of
which are set forth in the following table: -
Date.
February 5, 1909..
April 28, 1909
June 23,1909
September 1,1909.
November-16,1909,
January 31, 1910...
March, 29, 1910....
June 30, 1910
September 1,1910.,
Section
5137,real
estate
loans.
Section Section Section
5200,
5202,
5191,
excessive borrowed Total.
reserve.
loans.
money.
Per cent. Per cent. Per cent. Per cent. Per ct.
44.94
12.89
15.41
0.15
16.49
4L72
11.85
13.84
.32
15.71
49.06
16;84
15.30
.55
16.37
51.13
18.46
15.02
L28
16.37
61.93
19.10
16.97
.37
15.47
61.20
19.91
16.03
. .24
15.03
62.76
25.87
16.04
.32
10.52
44.69
17.68
14.56
.95
11.40
63.06
22.46
16.40
L76
12.42"
In July last the banks were notified that repetition of failure to forward reports of condition within the time prescribed by law would be
followed by an imposition of the authorized fine of $100 per day.
Since the date in question fines have been collected for this offense froni
the following banks: The First National Bank of Greenwood, Miss.,
$100, and the Farmers National Bank of Hamburg, Iowa, |400.
AUTHORIZED AND PAID-IN CAPITAL AND CLASSIFICATION OF NATIONAL
BANKS BY CAPITAL.
At the close of business on October 31, 1909', the authorized capital
stock of nationalbanking associations, as shown by the books of this
bureau was $964,621,925. Since that date there has been a gross
addition of capital, by new organizations and existing banks increasing their capital, of $82,225,010. During the same period there was
a decrease in capital of $30,949,800 by banks going into voluntary
liquidation, those placed in the charge of receivers, and reductions of
capital by going banks. These changes resulted in a net increase
during the year of $51,275,210, making the authorized capital of all
national banks on October 31, 1910, $1,015,897,135.
The number of banks and the paid-in capital stock of the associations, grouped by States and geographical divisions, the banks being
divided according to capital stock, are shown in detail in the appendix
to this report. The banks are divided into seven classes, beginning
858
BEPOM ON THE F m A N C l ^ .
with the minimum of $25,000 and ending with a maximum of $5,000,000
and over. As will be noted by reference to the following table,
approximately 60 per cent of the banks are those with capitalranging
from $50,000 to $250,000, and further t h a t these banks represent
36.71 per cent of the capital of all banks. While slightly over onefourth of the banks are those with capital of $25,000, these banks
represent but 4.79 per cent of the total national-bank capital. Banks
with capital ranging from $250,000 to $25,000,000, while representing
only 9.26 per cent of the total number of banks, the capital represented thereby is 57.11 per cent of the total.
This classification of number and per cent of capitaL of national
banks is summarized in the following table:
Number. Per cent.
Class.
Capital.
Per cent.
CAPITAL.
$25,000...
Over $25,000 and less than 150,000 $50,000 and less than $100,000
:
$100,000 and less than $250,000
$250,000 and less than $1,000,000
$1,000,000 and less than $5,000,000
$5,000,000 and over
. . ..
' Total.
.
;
......
. 1,852
. 413
2,278
1,965
493
157
15
25.82
5.76
31.76
27.40
6.87
2.18
.21
$48,056,021
13,962,802
121,621,285246,422,385
195,016,930
225,155,700
152,500,000
7,173
^ 100.00
1,002,735,123
•
4.79
L39
12.13
24.58
19.45
22.45
15.21
100.00
NATIONAL-BANK NOTES IN CIRCULATION.
At the close of business on December 3, 1907,. the reported outstanding circulating notes of national banks exceeded for the first
time $600,000,000, the exact ainount on that date being $601,805,985,
equaling approximately two-thirds of the paid-in capital stock of the
banks. On September 1, 1909, the liabilities of the banks on account
of circulation issued reached $658,040,356, and on June 30, 1910,
the reported issues were $675,632,565, the maximum amount reported
outstanding during the existence of the national banking system.
By September 1 there was a decrease of $810,712, the issues on that
date being $674,821,853, a net increase since September 1, 1909, of
$16,781,497.
I n the appendix of the report of the Comptroller of the Currency
will be found a table showmg the amount and percentage of circulation outstanding,'the capital stock, and aggregate assets of the
banks at date of each report from October, 1863, to September 1,
1910, together with the amount of money in the Unitea States on
or about June 30 of each year and the percentage of bank circulation outstanding to, the stock of money in the country. From
this table it appear^ that in 1904 for the first time since 1885 the
outstanding circulation exceeded 50 per cent of the ^paid-in capital
stock of the ^banks. The minimum proportion during this period
was 18.4 per cent, the date being July 9, 1891. On that date circulating notes formed but 7.3 per cent of the stock of currency in
the country. In the fall of 1905 bank notes in circulation exceeded
slightly 60 per cent of the banks' capital, but by November, 1909,
reached 70 per cent, the highest proportion since April 23, 1880.'
At the close of business on September 1, 1910, the percentage of
circulation to capital was 67.3. From 1867 to 1874 bank notes in
circulation averaged approximately 40 per cent of the stock of currency in the country, the maximum, 43.7 per cent, being reached on
COMPTROLLER
OF T H E
359
CURRENCY.
June 13, 1873, declining to the minimum in bhe history of the system
in 1891, when it represented but 7.3 per cent of the aggregate stock.
The effect of the act of March 14, 1900, authorizing an increase of
circulation to par of the bonds deposited and reducing the t a x on
circulation is shown in the gradual increase in the percentage of
national-bank circulation to the stock of money in the country from
11.3 per cent on June 29, 1900, to 19.8 per cent on September .1,1910.
The relative amount of circulation, stated in millions of dollars,
issued by national banks in New York, Chicago, and St. Louis, and
other reserve cities, and elsewhere in the country, at date of each
report, from November 16, 1909, is shown in the following table:
OUTSTANDING CIRCULATION R E P O R T E D B Y THE B A N K S ON T H E D A T E S INDICATED.
Date.
New
York.
New
Other
•York,
Chicago, reserve
cities.
and
St. Louis.
All
reserve
cities.
•
November 16,1909.
January 31,1910...
March 29,1910
June 30,1910
September I, I9I0.
Country.
Total.
•
Mllions. MUlions. Millions. Millions. MUlions. MUlions.
$668.3
$151,8
$241, 3
$427, 0
$89,5
. $54,6
667.5
152.8 ,
24C,2
427,3
87,4
52.2
669.1
155.1
238,7
430,4
83,6
49.1
675.6
156,6
240,8
43L8
84,2
49.4
674.8
156.3
238,1
436.7
8L8
46,1
NATIONAL-BANK CIRCULATION ISSUED, REDEEMED, AND OUTSTANDING.
Beginning with the first issue of national-bank currency, on December 21, 1863, and running to October 31, 1910, national-bank notes
to the amount of $5,000,244,105 have been issued and $4,270,992,050
redeemed, leaving outstanding, exclusive of nonpresented fractions
and gold notes, $729,252,055. During the year circulating notes to
the amount of $417,941,890 were issued^ Incomplete currency
ready for issue to the banks was held in the vaults of the office at the
close of business October 31, 1910, t o the amount of $663,290,240.
Of the $3,465,240 of gold bank notes issued all have been redeemed
with the exception of $74,679.50. The act of Jul;^ 12, 1870, authorized the organization of banks to issue circulation redeemable i n
gold, but within about ten years from the date of the act all of these
banks were closed or converted into currency banks.
On October 31, 1910, there were two national banks in the system,
each having capital of $25,000 and bonds on deposit as security for
circulation to tne amount of $6,250, that had not issued circulating
notes.
I t will be recalled that the act of March 14, 1900, limited the
amount of $5 notes that might be issued by any association to onethird of the total amount issuable on the security of United States
bonds. This legislation required all banks issuing fives only to order
plates for the printing of notes of other denominations and necessitated the ordering of plates for higher denominations by banks desiring to issue fives. On March 14, 1900, the proportion of $5 notes
outstanding was 31.2 per cent of the total issues of national-bank
notes. The proportion decreased to 13.6 per cent in 1904, but
reached the maximum since 1900 on October 31, 1909, when it
stood at 20.05 per cent. On October 31, 1910, the percentage of
fives to total circulation was 18.57 per cent.
360
REPORT ON T H E FINANCES.
In the following table is shown the amount of circulation of each
denomination outstanding on March 14, 1900, and on October 31,
1908, 1909, a;nd 1910: —
Denominations.^
Mar. 14,1900.
Oct. 31, 1908.
Oct. 31, 1909.
$348,275.00
167,466.00
79,310,710.00
79,378,160,00
58,770,660.00
11,784,150,00
24,103,400,00
104,000.00
27,000.00
32,409.00
$343,875.00
164,470.00
131,161,385.00
281,832,280.00
195,249,940.00
17,533,050.00
39,327,200.00
•90,000.00
24,000.00
. 44,008.00
$343,613.00
164,322.00
141,067,495.00
303,273,700.00
204,646,360,00
16,615,500,00
37,599,000,00
89,000,00
23,000,00
45,887.00
$343,610.00
164,320.00
135,436,945,00
320,974,910.00
218,494,720,00
16,447,250,00
37,279,300.00
88,000,00
23 000 00
47,748.60
254,026,230.00
665,770,208,00
703,865,877.00
729,299,803.50
Circulation secured b y lawful m o n e y . . . 38,004,155.00
Circulation secured b y b o n d s
216,022,075.00
39,065,637.50
626,779,350.00
25,521,114,00
678,344,763,00
33,538,463,00
695,761,340.50
Ones
Twos
Fives
Tens.
Twenties
Fifties
One h u n d r e d s
Five hundreds
One t h o u s a n d s .
U n r e d e e m e d fractions
:....
„..
Total.
Oct. 31,1910.6
6 Includes notes redeemed but not destroyed.
a Gold notes not included.
REDEMPTION
OF
CIRCULATION.
In the year ended October 31, 1910, national-bank notes were
received for redemption to the amount of $504,151,186, of which,
however, $104,991,200, being fit for circulation, were returned to the
banks of issue, and the remainder delivered by the National Bank
Redemption Agency t o t h e Comptroller of the Currency for destruction.
In the following table is shown the amount of circulation received
for redemption during each month from November, 1909, to October
31,1910:
'Date.
N o v e m b e r , 1909
December, 1909
J a n u a r y , 1910
F e b r u a r y , 1910
March, 1910
April, 1910..'.
'.
Amount.
$33,253,015
43,484,347
60,864,575
41,570,159
. 39,917,273
45,222,008
Date.
May, 1910
J u n e , 1910
J u l y , 1910
A u g u s t , 1910
S e p t e m b e r , 1910
October, 1910
Amount.
'.
.
$46,299,971
44,894,723
45,504,817
39,504,676
32,366,779
31,268,843
As will be observed by reference to the following table, of the total
receipts for redemption during the year, the sum of $432,464,500 was
received from the eight cities named. This amount represents nearly
86 per cent of the total receipts. From New York alone was received
nearly 46 per cent of the total volume of notes received at the department for redemption during the year:
City.
NewYork..,
Chicago
Boston
Philadelphia
City.
Amount.
$230,886,000
68,051,000
36,900,000
35,255,000
St. Louis
Cincinnati...
Baltimore...
New Orleans
Amount.
$30,285,000
12,555,000
11,678,000
6,854,500
Expenses incurred in the redemption of national-bank notes during the fiscal year ended June 30, 1910, aggregated $434,093.10, an
average rate per thousand dollars redeemed of $0.88066.
COMPTROLLER OF THE CURRENCY.
,
361
PROFIT ON NATIONAL-BANK CIRCULATION.
I n computing th^ profit pn the issuance of national-bank circulation it is assumed that the entire amount based on the bond deposit
is in circulation and no deduction is made by reason of the fact that
a reserve fund of 5 per cent on the issues is required to be maintained
in the office of the Treasurer of the United States for the redemption
of notes as presented at the departnient, as the redemption fund is
permitted by law to be counted as a part of the bank's lawful reserve.
In the calculation appearing in the appendix to this report, the profit
is stated, based on the average net price of bonds, montlily, during
the year ended October 31, 1910, and is computed separately on
deposits of 2 per cent consols of 1930, the 4 per cent loan of 1925,
and the 2 per cent Panama Canal loan. Money is assumed to be
worth 6 per cent and the measure of profit is the difference between
the net receipts from the circulation loaned at 6 per cent and interest
that would be obtained on the cost of the bonds loaned at the same
rate; in other words, from the interest received on the bonds at the
rate provided therein, and the interest on circulation loaned at 6 per
cent, are deducted the taxes on circulation, expense incident to the
.obtaining of circulation, i. e., plates, redemption charges', etc.,
together with the sinking fund and from the difference is deducted
the interest on the cost of the bonds to show the profit.
During t h e year in question, 2 per cent consols of 1930 ranged in
price from a minimum of 100.505 on November, 1909, to a m'aximum
of 101.24 in September, 1910, and on the same dates the profit on
circulation in excess of 6 per cent on the investment was 1.387 per
cent and 1.313 per cent, respectively; that is to say, oh the issue of
$100,000 of circulation on the security of 2 per cent consols of 1930,
at a cost of 100.505, the profit on circulation in excess of 6 per cent
on the investment, was $1,349.39, and on bonds at a cost of 101.24
the profit was $1,329.31.
The highest average net price of 4 per cent bonds was 116.693 in
November, 1909, and the rate of profit on circulation secured by
bonds of that class was 1.076 per cent. The lowest price on these
bonds during the year was 114.875 durmg May, June, and July, the
rate of profit being 1.225 per cent in May, 1.220 per cent in June, and
1.215 per cent in July. The rate of profit, however, reached the
maximum of 1.233 per cent when the bonds in February were quoted
at 114.932. The profit on circulation secured by the Panama Caiial
bonds is but nominally in excess of the profit on 2 per cent consols,
although in November, 1909, when the Panama Canal bonds were
quoted at 100.130, the rate of profit on circulation was greater than
on any other class of bonds at any time during the year, being stated
at 1,426 per cent.
UNITED STATES BONDS.
/
No change has taken place in the interest-bearing bonded debt of
the United States since October 31, 1909, when it amounted to
$913,370,490. This debt is evidenced by $646,250,150 two per cent
consols of 1930, $63,945,460 three per cent loan of 1908, $118,489,900
four per cent loan of 1925, and $84,631,980 two per cent Panama
Canal loan. At the close of business on October 31,' 1910, United
States bonds to the amount of $694,926,070 were on deposit with th^
Treasurer of the United States as security for national bank circula-
362
BEPOBT ON T H E EINANCES.
tion and $38,137,200 as security for public deposits. On September
1, the date of the last report of condition, the banks held in their
vaults United States bonds to the additional.amount of $14,042,110,
making an aggregate investment b y national banks in government
securities of $747,104,380, or nearly 82 per ceht of the bonded debt
of the Government. Of the $733,062,270 United. States bonds on
deposit as security for circulation and public deposits, $687,735,780,
or approximately 94 per cent, are consols of 1930 and Panama Canal,
bonds bearing interest a t the rate of 2 per cent.
The bonded debt, together with the amount of United States bonds
on deposit to secure natioiial-bank circulation- and government
deposits, including other bonds for the latter purpose, on October 31,
1910, are shown by classes and amounts in the following table:
INTEREST-BEARING B O N D E D D E B T OP T H E U N I T E D STATES, AND B O N D S ON D E POSIT TO SECURE NATIONAL-BANK CIRCULATION AND GOVERNMENT D E P O S I T S ,
OCTOBER 31, 1910.
Bonds on deposit to secure
government
deposits.
Bonded debt.
Consols of 1930 (twos)..
Loan, 1908-1918 (threes).:
Loan, 1925 (fours)..:
Panama Canal loan:
Series of 1906 (twos)
Series of 1908 (twos)
Philippine loans and railway bonds (fours)
Porto Rico loans (fours)
District of Columbia bonds (three-sixty-fives)..
Territory of Hawaii bonds (various)
State, city, and railroad bonds (various)
Total.
Bonds on deposit to secure
circulation.
$646,250,150
63,945,460
118,489,900
$580,145,400
15,337,540
21,022,650
$24,966,900
4,178,300
4,788,000
54,631,980
30,000,000
51,248,200
27,172,280
2,798,000
1,405,000
4,748,000
L044,000
872,000
663,000
2,909,000
913,317,490
Class.
694,926,070
48,372,200
.
In connection with the bonded debt of the Government, and the
investment therein by national banks, the following statement, based
upon conditions at the close of each month from November 30, 1909,
to October 31, 1910, will be examined with interest. I n addition to
the statistics in the table relating to capital, bonds, and circulation,
there is shown the average monthly price of 2 per cent consols
of 1930.
CAPITAL, B O N D S ON D E P O S I T TO SECURE CIRCULATION, AND CIRCULATION
OUTVSTANDING.
'
Numberof
banks.
Date.
1909.
November 3 0 . .
December 3 1 . . .
1910.
^January 31
February 2 8 . . .
March 3 1 . . . . . .
April 3 0 . . . . . . .
May31
June 3 0 . . . . . . . .
J u l y 31
August 3 1 . . . . .
September 30..
October 31
Capital.
7,039
7,054
$965,791,926
966,406,925
$681,689,370
683,437,240
7,065
7,079
7,108
7,123
7,137
7,170
7,182
7,184
7,206
7,218
976,141,935
984,001,936
984,402,635
992,997,635
996,845,135
1,000,070,136
1,003,717,135
1,021,667,135
1,021,562,135
L015,897,135
681,618,900
682,695,850
683,675,710
684,943,460
685,671,510
686,974,880
688,458,280
689,813,710
691,961,860
694,926,070
Bonds on
deposit.
Average
monthly
price of
2 per
cent consols, 1930.
Circulation secured b y -
Bonds.
Lawful
money.
100.505
100.889
$680,995,267
683,401,523
$26,438,190
26,952,730
100.785
100.687
100.955
100.750
100.750
100.644
100.625
101.007
101.240
101.005
681,332,354
679,387,520
680,279,323
683,254,858
682,765,703
685,517,013
684,468,093
687,132,323
688,157,577
691,335,845
T o t a l circulation outstanding.a
28,546,979
709,879,333
30,635,348
710,022,868
• 31,947,510
712,226,833
30,206,728
713,461,586
29,477,138
712,242,841
27,913,720
713,430,733
27,561,735
712,029,828
30,188,728
717,321,051
32,638,029 . 720,795,606
33,538,463
724,874,308
a Exclusive of notes redeemed but not destroyed from May 1 to October 31, 1910.
$707,433,457
710,354,253
COMPTBOLLEB OF THE (DUBBENCY.
363
EARNINGS AND DIVIDENDS OF NATIONAL BANKS.
While the dividend periods of national banks vary, and under the
law reports of earnings and dividends are required to be made to the
Comptroller within ten days after the declaration of diviclends, for
statistical purposes the reports are abstracted for semiannual periods
ending December 31 and June 30. I n the appendix to this report
appear the abstracts, by reserve cities and States, for the periods
ended December 31, 1909, and June 30, 1910. Combining these two
abstracts, for the purpose of showing results for the entire year, i t
appears that the average capital on which dividends were paid was
$963,457,549. The average surplus was $630,159,719 and the gross
earnirigs $402,665,823.44, against which were charged losses and
premiums aggregating $38,714,082.62, or 9.6 per cent, and expenses
of $209,784,251.35, or 52.18 per cent..' With these deductions the net
earnings are shown to have been $154,167,489.47, from which dividends were paid to the amount of $105,898,622, or 10.99 per cent on
the capital and 6.65 per cent on the capital and surplus. The net
earnings were equivalent to 9.67 per cent of the capital and surplus.
The act requiring the submission of reports of earnings and dividends was not passed until 1869; hence the records begin with the
year ended March 1, 1870, continuing to June 30, 1910, a period of
forty-one years. The average annual net earnings of banks during
this period are shown to have been $71,956,096 and the average
dividends $54,198,299, or an average rate of 8.98 per cent on the
capital stock. The aggregate net earnings for the forty-one years are
stated at $2,950,199,928 and the dividends at $2,222,130,367. •
EXPENSES OF NATIONAL BANKS.
Exclusive of the tax levied and collected by the Commissioner of
Internal Revenue under the corporation tax law of August 5, 1909,
statistics relative thereto in respect to national and other banks.being
imavailable, national banks paid to the Government during the fiscal
year ended June 30, 1910, the sum of $4,494,223.81, of which
$3,463,466.68 was the amount of tax on circulating notes, $434,093.10
cost of redemption of notes by the Treasurer of the United States,
$524,039.03 examiners' fees, and $72,625 cost of plates for the printing of circulation for new banks and for those the charters of which
have been extended.
The banks were taxed on their capital and deposits up to June 1,
1883, and on capital for the period the war revenue act of 1898 was
in force. The aggregate taxes paid on capital, surplus, and deposits
were $75,844,367.90. The t a x on circulktion from 1863 to June 30,
1910, amounted to $111,281,797.76, making the aggregate tax paid
to the Government by national banks on the items mentioned
$187,126,165.66. The cost of redemption of national-bank notes
from 1874, the date of the establishment of the national bank redemption agency, to June 30, 1910, is shown to have been $6,797,285.79.
From 1883 to 1910 examiners' fees aggregated $6,983,795.02 and the
cost of plates for new and extended banks from 1883 to 1910 was
$1,244,155. Combining these various expenditures it appears that
the national banks have paid to the Government the sum of
$202,151,401.47, of which 92-^ per cent represents the tax paid on
circulation, capital, and deposits.
364
BEPOBT ON THE EINANCES.
From the date of the organization of the Currency Bureau to June
30, 1910, the total expenses of the office are stated at $13,277,537.34.
This amount, however, does no,t include contingent expenses of the
bureau not paid by the Comptroller, b u t from the general appropriation for contingent expenses of the Treasury Department. No
separate account of these contingent expenses has been kept, but
assuming that they equaled the amount specifically appropriated for
the expenses of the bureau the aggregate would be.only approximately
$26,500,000, or about 14 per cent of the receipts from the banks on
account bf tax. on circulation, capital, and deposits.
ORGANIZATION OF NATIONAL BANKS.
Under section 5133 of the Revised Statutes the organization of
national banking associations by any number of persons, not less than
five, is authorized. This section provides that the incorporators shall
enter into articles of association specifying in general terms the object
for which the association is formed and a copy thereof forwarded to
the Comptroller to be filed and preserved in his office. The following
section provides for the execution of an organization certificate by
those who have entered into articles of association. This certificate
is required to be acknowledged before a judge of some court of record
or a notary public and transmitted to the Comptroller. When these
documents have been filed with the Comptroller the association
becomes a body corporate, but with powers limited to transaction of
business incidental to organization until the issuance of the Comptroller's certificate authorizing the association to begin the business
of banking. The law further requires the collection and certification
of payment of at least 50 per cent of the authorized capital stock
and the deposit of a^ specified amount of United States registered
interest-bearing bonds, and authorizes an examination for the purpose
of determining the amount of money paid in on account of capital
stock and whether all requirements of law in relation to organization
have been met.
As the law, however, specifically confers upon the Comptroller discretion with respect to approval of the name selected for an association, the course of procedure under the established rules of the office
is to require the submission of a formal application for authority to
organize an association wherein is stated the title desired, location of
the bank, the capital stock, the signatures of the applicants given,
accompanied by advice in regard to,the bxisiness and financial standing of the apphcants, number of shares to be subscribed for, and the
previous banking experience, if any, of the applicants. Indorsements are required with respect to the character and standing of the
applicants, the population of the place at which it is proposed to
organize the bank, and an expression of opinion with respect to
prospects of success of the association if chartered and conservatively
managed.
Prior to the disposition of an application a copy thereof is sent to
the national-bank examiner, to the Member in Congress for the district
in which the bank is to be located, and to the superintendent of
the state banking department, with request for information with
respect to the character and standing of the applicants, the existing
demand for a bank at the locality, and an expression of opinion as to
whether success is probable.
COMPTEOLLER OF T H E CUEEENCY.
365
Applications for authority to convert state banks into national
banking associations are made by the directors, and each case of this
character is investigated for the purpose of determining whether the
bank has been conducted in conformity with law, its measure of
success, and also as to the character of its assets and general business.
In view of the fact t h a t bank stock is generally regarded as a very
desirable investment the organization of banks, both national and
state, has been very active during recent years, and it has been shown
to be evident to both federal and state authorities t h a t many banking
institutions are organized, or organization attempted, without giving
due consideration to their d.emand or their prospects of success. As
far as possible the state authorities are now acting in harmony with
the Comptroller in the upbuilding of banking conditions by preventing the organization of banks where the demand therefor is not
apparent or where organization is attempted by those whose character
and standing are questionable.
During the year ended October 31, 1910, 425 applications were
received for authority to organize national banks, including applications to convert state banking institutions. Approval was granted
in 315 cases aiid there were 74 rejections, the cause of the latter
being, first, existence of ample banking facilities at the place; second,
population and business too limited to warrant success; third, character of the applicants and of others interested. Rejections of applications to convert were based, primarily, upon information received
to the effect that the management had been neither in conformity
with law nor successful.
Charters were issued during the year to 311 associations having
aggregate authorized capital stock of $30,760,000, and from the date
of the passage of the national-bank act in 1863 to October 31, 1910,
charters to the number of 9,883 were granted. At the close of the
current year 7,218 banks were in active operation, 2,176 having been
placed in voluntary liquidation and 489 in the charge of receivers for
liquidation of their business in the interest of depositors and other
creditors. Included in the total number of charters granted were
1,571 to institutions which were conversions of state banks. The
capital of these converted banks at date of entrance into the nationalbanking system was $330,665,928.
Under the provisions of the act of March 14, 1900, national banks
to the number of 2,953, with aggregate capital of $76,930,500, were
organized, the average capital being approximately $26,000. Since
the date of the act in question, 1,666 banks were organized under the
law of 1864, their aggregate (Capital being $214,912,800 and the individual capital $50,000 or more. I t further appears that 652 of the
banks chartered in this period were conversions of state banks, their
capital being $51,445,800; 1,403 reorganizatioAs of state or private
banks, with aggregate capital of $93,987,000; and 2,564 primary
organizations, the capital represented being $146,410,5.00. The total
number of banks organized from March 14, 1900, to the end of the
current year was 4,619 with aggregate capitalof $291,843,300, exceeding by 1,002 the number of banks in active operation on March 14,
1900. The average number of banks organized monthly from March
14, 1900, to October 31, 1907, was approximately 40; the average in
1908, 27; in 1909,_ 25; and in 1910, 26.
366
REPOET ON T H E FINANCES.
The classification and distribution, by States and geographical
divisions, of national banks organized since the date of the passage
of the act of 1900 are shown in the following table;
SUMMARY, BY STATES, GEOGRAPHICAL DIVISIONS, AND CLASSES, OP NATIONAL B A N K S
ORGANIZED FROM MARCH 14, 1900, TO OCTOBER 31, 1910, AND THE P A I D - I N CAPITAL
STOCK OF ALL R E P O R T I N G NATIONAL B A N K S ON S E P T E M B E R 1,
1910.
Capital over
C a p i t a l $25,000. $25,000 a n d less C a p i t a l $50,000
a n d over.
t h a n $50,000.
s t a t e s , etc.
INO.
.
4
4
5
> 1
Maine
New Hampshire
Vermont
R h o d e Island
Connecticut
4
Capital.
7
2
2
18
1
4
$385,000
200,000
150,000
4,350,000
500,000
200,000
34
$30,000
100,000
450,000
1
No.
5,785,000
No.
Capital..
No.
$485,000
330,000
275,000
4,375,000
500,000
300,000
72
58
51
192
22
79
53
6,265,000
•474
99,799,062
449
194
819
28
108
12
169,817,100
21,554,500
115,090,762
.2,373,985
18,551,760
6,052,000
30,000
7
24
3
.5
287,500
210,000
807,000
.95,000
172,000
88 16,720,000
40 3,310,000
220 23,880,000
48 1,671,500
365 46,640,000
801 57,911,500 1,610
48 1,200,000
33
825,000
21
525,000
11
275,000
25
625,000
6
150,000
30
750,000
150,000
6
275,000
11
214 5,350,000
19
475,000
52 1,300,000
31
775,000
E a s t e r n States
Virginia
W e s t Virginia
N o r t h Carolina
S o u t h Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas...^
Kentucky
Tennessee
I
9
10
4
39 3,765,000
38 3,165,000
27 2,610,000
18 1,985,000
49 4,650,000
22 3,950,000
32 2,675,000
19 1,815,000
19 3,410,000
132 13,910,000
23 1,870,000
34 5,220,000
31 3,385,000
96 5,286,000
81 4,345,000
52 3,265,000
29 2,260,000
93 5,920,000
32 4,225,000
72 3,729,500
28 2,055,000
31 3,715,000
427 21,841,000
43 2,375,000
93 6,750,000
68 4,340,000
. 88 .2,200,000
50 1,250,000
213 5,325,000
6
150,000
31
775,000
...
Southern S t a t e s —
13
4
19
645,000
4
125,000
10
304,500
3 . 90,000
1
30,000
81 2,581,000
1
30,000
7
230,000
6
180,000
17
15
108
90
152
14
35
175
109
32
2,700,000
2,250,000
3,800,000
350,000
875,000
4,375,000
2,725,000
800,000
121
67
100
90
22
11
49
23
261
3,025,000 ~ ~ 1
3
1,675,000
2,500,000 .17
8
2,250,000
4
550,000
275,000
1,225,000 11
4
575,000
6,525,000 21
^
4
Mid.Western States
Western states
744 18,'600,000
Pacific States
Hawaii
Porto Rico
70,000
26,000
130,000
95,000
30,000
I
30,000
12
2
I s l a n d possessions..
50,000
50,000
209
172
253
43
67
219
187
82
15,273,000
11,883,000
17,928,500
5,220,000
4,350,000
9,346,000
6,925,000
13,705,000
380
262
432
101
129
270
326 129
61,939,100
28,055,450
71,880,000
15,107,600
16,460,000
22,786,000
20,991,015
35,305,000
272,524,165.
137 3,740,000 149
82 2,365,000 . 99
149 5,430,000 238
128 4,840,000 208
54
40 ' 1,920,000
29
900,000
22
94 4,286,000 122
41
37 1,275,000
329 10,890,000 225
5,280,750
3,965,000
15,445,000
12,212,500
4,656,100
1,685.000
10,025,000
2,070,000
10,420,000
500,000
600,000
2,335,000
2,300,000
1,240,000
025,000
2,700,000
575,000
3,655,000
199 14,530,000 1,018 35,646,000 1,165 ,
75 2,516,000
2
1
4
3
I
2
154,540,609
9
12
32
30
14
11
34
10
• 47
361,000
125,000
710,000
183 4,575,000
•
15,557,030
9,081,826
7,935,000
4,985,000
13,253,580
5,750,800
8,730,000
3,481,250
8,070,000
44,076,000
4,155,000
17,547,400
11,917,724
412 63.270,000 1,232 84,630,500 2,029
215,000
90,000
595,000
290,000
130,000
34
850,000
31
775,000
78 1,950,000
27
675,000
6
150,000
3
75,000
4
100,000
333,440,107
125
103
75
39
113
43
79
32
31
519
45
148
102
598,000
84 11,975,000
.483,000
67 9,150,000
628,500
83 13,500,000
130,000
25 4,740,000
125,000
28 3,350,000
471,000 • 29 4,500,000
630,000
59 3,570,000
420,000
37 12,485,000
4
15
19
13
715 17,875,000 105 3,485,500
North Dakota.
South Dakota
Nebraska
Kansas
•-.
Montana...
Wyoming
Colorado
N e w Mexico
Oklahoma
185 19,207,500
97 4,770,000
457 30,012,000
9
245,000
49 2,427,000 S
4 1,250,000
$8,170,822
5,460,000
5,186,290
54,367,500
6,700,250
19,914,200
483 52,410,000 1,145 70,.106,500 1,454
321,000
355,000
130,000
507 12,675,000 _155 5,021,500
Ohio
Indiana
Illinois.
Michigan...
Wisconsin
Minnesota.
Iowa.
Missouri..,
1,480,000
1,250,000
Capital
p a i d in.
11
7
7
19
1
8
388 9,700,000
New YorkN e w Jersey
Pennsylvania...
Delaware
Maryland
District of Columbia
UnitedStates
$100,000
100,000
125,000
25,000
18
' N.England States.
Washington."
Oregon....
California
'
Idaho.
Utah
Nevada
Arizona.
Alaska
C a p i t a l . N o . Capital.
T o t a l organiza- N a t i o n a l b a n k s
r e p o r t i n g Sept. I,
tions.
1910.
65,759,350
28 3,245,000
21 1,485,000
89 23,637,800
12
710,000
5 1,025,000
9 1,225,000
6
250,000
1
50,000
64 4,165,000
53 2,286,000
171 25,717,800
42 1,480,000
12 1,205,000
12 1,300,000
10
380,000
I
50,000
79
75
187
47
21
12
13
2
11,675,000
7,161,000
48,803,830
, 2,670,000
2,780,000
1,792,000
980,000
100 000
381,000 . 170 31,627,800
365 36,583,800
•
436
75,961,830
2
1
1
550,000
100,000
4
1
600,000
100,000
4
I
610,000
100,000
3
650,000
5
700,000
5
710,000
2,557 63,925,000 396 13,005,500 1,666 214,912,800 4,619 291,843,300 7,173 1,002,735,123
367
COMPTEOLLER OF T H E CUEEENCY.
The number and capital, by classes, of conversions, reorganizations,
and primary organizations are shown in the following tables:
SUMMARY, BY CLASSES, OF NATIONAL B A N K S ORGANIZED FROM MARCH 14, 1900, TO
OCTOBER 31, 1910.
-
Reorganizations.
P r i m a r y organizations.
No.
Conversions.
No.
• Total.
Classification.
Capital.
No,
Capital less t h a n $ 5 0 , 0 0 0 . . . . . . .
Capital $50,000 or o v e r . . . . . . . .
386 $10,183,000
266 41,262,800
652
Total
Capital.
Capital.
No.
879 $23,332,000 1,688 $43,415,500 2,953
524 70,655,000
876 102,995,000 1,666
51,445,800 1,403
93,987,000 2,564 146,410,500 4,619
Capital.
$76,930;500
214,912,800
291,843,300
N U M B E R O F NATIONAL B A N K S ORGANIZED I N E A C H M O N T H FROM MARCH 14,
TO OCTOBER 31, 1910.
1900. 1901.
Month.
No.
January
Februarv.
March
April
May
June
July
August
September
October
November
December
1902'. 1903.
1904. 1905.
1900,
1906.
1907.
1908.
1909.
1910.
6
46
66
95
46
44
20
25
21
•29
No.
36
31
35
30
54
40
41
27
23
27
32
36
No.
40
28
41
50
50
42
38
42
38
33
36
54
No.
34
50
56
51
47
58
43
36
31
57
20
32
No.
36
35
42
46
42
43
22
38
32
43
36
45
No.
45
39
50
42
49
48
37
' 44
35
36
23
38
No.
45
41
41
43
45
42
32
33
31
41
27
41
No.
40
42
50
46
52
55
40
39
46
38
19
23
No.
32
36
39
34
33
21
37
20
14:
18
21
18
No.
28
20
22
26
24
44
. 28
32
24
22
23
27
No.
28
29
37
26
21
40
19
12
27
22
398
412
,492
515
460
486
462
490
323
320
261
..
i
..
'.
Total
N U M B E R AND CLASSIFICATION OF NATIONAL B A N K S ORGANIZED D U R I N G THE Y E A R
ENDED O C T O B E R 3 1 , 1 9 1 0 .
Primary organiReorganizations.
zations.
Conversions.
Total.
Bonds deposited.
Month.
No.
November.
December.,
.January...
February..
March
April
May
June
July
August
September.
October
Total
Capital.
11
17
16
20
23
12
14
v22
7
7
17
14
$775,000
990,000
1,400,000
2,860,000
3,915,000
560,000
1,505,000
830,000
385,000
775,000
750,000
705,000
$250,000
425,000
190,000
280,000
275,000
600,000
125,000
320,000
300,000
2,250,000
320,000
65,000
$350,
175;
525,
4,055,
475,
415,
305,
1,490,
200,
80,
130,
1,710,
$1,375,000
1,590,000
2,115,000
7,195,000
4,665,000
-1,575,000
1,935,000
2,640,000
885,000
3,105,000
1,200,000
2,480,000
$718,260
1,090,000
1,013,760
6,174,250
1,674,760
821,750
817,250
824,620
470,260
1,736,650
397,150
370,000
180 15,450,000
5,400,000
9,910,000
30,760,000
16,108,500
No.
Capital.
No.
Capital.
No.
Capital.
368
E E P O E T ON T H E
FINANCES.
I n the following table is indicated the growth of national banks
from March 14,1900, as evidenced by their number, authorized capital,
and circulation:
N U M B E R OF N A T I O N A L B A N K S IN E X I S T E N C E , A U T H O R I Z E D CAPITAL STOCK, B O N D S
ON D E P O S I T T O S E C U R E C I R C U L A T I O N , C I R C U L A T I O N S E C U R E D B Y B O N D S A N D B Y
L A W F U L M O N E Y , O N M A R C H 14, 1900, O C T O B E R 3 1 , 1907, 1908, 1909, A N D 1910.
Mar.14,1900. Oct. 31, 1907. Oct. 31,1908. Oct. 31,1909.
Number of banks
Authorized capital
Bonds on deposit
Circulation, on bonds
Circulation, lawful money.
Total circulation
3,617
$616,308,095
244,611,570
216,374,795
38,027,935
254,402,730
6,650
$909,274,775
566,994,910
562,727,614
47,252,852
609,980,466
EXTENSION
OF
6,873
7,025
$930,365,275 $964,621,925
632,624; 850 679,545,740
678,344,963
626,778,555
39,065,637
25,595,793
665,844,192
703,940,756
Oct. 31,1910.
7,218
111, 015,897,135
694,926,070
691,335,845
33,538,463
724,874,308
CHARTERS.
The act of July 12, 1882, authorizes the extension of corporate
existence of a national banking association, upon the written consent of shareholders representing at least two-thirds of the stock.
This written consent in the form of an amendment of the articles
of association is required to be filed with the Comptroller at any time
within two years prior to the expiration of the corporate life of a
bank. When the amendment is filed and found to be in conformity
with law, a special examination is required for the purpose of ascertaining whether the bank is in a condition warranting extension.
In 1902 a large number of banks had reached the end of their extended
existence, and on April 12 of that year extension for a further period
of twenty years was authorized by Congress, the course of procedure
being practically the same as in the case of first extension. Under
each act every national bank, the charter of which is extended, is
required, if circulation is to be issued, to order and pay for a plate
for the printing of notes of a design materially different from that
theretofore employed, and within three years from date of extension to
deposit lawful money to provide for the redemption of all circulation
then outstanding that was issued prior to the extension of the charter.
This latter requirement is regarded as placing an unnecessary burden
upon the banks and in the Comptroller's recommendation to the
National Monetary Commission relating to amendments of the
national bank act the repeal of this provision was suggested.
Extensions of charter, under the act of 1882, have been granted to
2,979 banks, and under the act of 1902 to 993 banks. During the
year ended October 31 the charters of 184 banks were extended for
the first time and 24 for the second. I n the year 1911 t h e charters
of 110 banks will expire and may be extended under the act of 1882
and 73 under the act of 1902. In the appendix to this report will
be found a list of all banks the charters of which will expire during
the year ending October 31, 1911, and which may be extended under
the acts in question.
In connection with extensions'of charter under the act of 1882 a
number of banks the corporate existence of which expired prior
thereto were compelled to liquidate and reorganize. Authority was
contained in the act of July 12, 1882, to reorganize under the same
title on condition that holders of stock in the expiring association
should be entitled to preference in the allotment of shares of the new
369
COMPTEOLLER OF T H E CUEEENCY.
ass(3ciation in proportion to the number of shares held by them,
respectively, in the association the corporate existence of which had
expired, but the office held at that time that authority to reorganize
under the identical title did not carry with it the right to retain the
original charter number. Prior to the passage of the act of 1902
authorizing second extensions of charter a number of banks organized
in 1863, the charters of which expired prior to July 12, 1882, applied
for and received authority, upon extension, to resume their original
charter numbers. The first bank to receive this favorable consideration was The First National Bank of Philadelphia, which was the
first national banking association to ,be chartered. The other banks
that have been accorded the same consideration are the following,
with their original charter numbers:
No.
Title.
No.
Title..
2
3
5
7
11
The First National Bank of New Haven, Conn.
The First National Bank of Youngstown, Ohio.
The First National Bank of Fremont, Ohio.
The First National Bank of Cleveland, Ohio.
The First National Bank of Fort Wayne, Ind.
17
19
43
48
59
The First National Bank of Richmond, Ind.
The First National Bank of Portsmouth, N. H.
The First National Bank of Salem, Ohio.
The First National Bank of Pittsburg, Pa.
The First National Bank of Troy, Ohio.
CHANGES IN TITLES OF NATIONAL
BANKS.
I n the year ended October 31, 1910, there were 21 changes of corporate titles of national banking associations, the banks concerned,
the new and old titles, with date of approval of the changes, being
shown in the following table:
'
No.
Title and location.
8241 "The Lumbermens National Bank of Bemidji," Minn., to "The Northern National Bank
of Beraidji"
4225 "The Peirce City National Bank," Peirce City, Mo., to "The First National Bank of
Peirce City "
3484 "The National Bank, of White River Junction," Vt., to "The First National Bank of
White River Junction",
7796 "The National Bank of St. Petersburg," Fla., to "The Central National Bank of St.
Petersburg"
9563 "The First National Bank of Arnettsville," Ohio, to "The First National Bank of Pitsburg"
1250 "The Mechanics National Bank of the City of New York," N. Y., to "The Mechanics'
and Metals National Bank of the City of New York "
4783 "The McCartney National Bank of Fort Howard," Wis., to "The McCartney National
Bank of Green Bay"
3910 "The Oakland National Bank of Chicago," 111., to "The Washington Park National
Bank of Chicago"
4301 "The First National Bank of Corvallis," Oreg., to "First National Bank of Corvallis"..
"The Citizens National Bank of Livingston," Tex., to "The First National Bank of
6169
Livingston "
•
9006 "The Harrison National Bank of Rosedale," Ind., to "The Rosedale National Bank"...
4338 "The Lavaca County National Bank of Hallettsville," Tex.^ to "First National Bank
of Hallettsville"
9383 "The Leeds National Bank," Leeds, Mo., to "The Park National Bank of Kansas
City,'-' Mo
3244 "The Peoples National Bank of Sandy Hill," N. Y., to "The Peoples National Bank of
H udson Falls," N . Y
•.
•
9270 "The Musselshell Valley National Bank of Harlowton," Mont.,<to "The First National
Bank of Harlowton "
8666 "National State Bankof Richmond" to "National Stateand City Bankof Richmond,'^
Va
6470 " T h e Sandy Plill National Bank," Sandy Hill, N. Y., to "The Sandy Hill National
Bank of Hudson Falls," N. Y
9779 " T h e United Towns National Bank of Berlin, N. J., to "The Berlin National B a n k " . . .
2894 " T h e Continental National Bank of Chicago," III., to "Continental and Commercial
National Bank of Chicago"
.•
8297 "The Commercial National Bank of Sandy Hill," N. Y., to "The Hudson Falls National
Bank," Hudson Falls, N. Y
3293 "The National City Bank of Grand Rapids," Mich., to "Grand Rapids National City
Bank '
65872°—FI 1910- -24
Date.
1909
Dec. 29
Jan. 13
Jan. 20
Jan. 21
Jan. 28
Jan. 29
Jan. 29
Mar. 17
Apr. 7
Apr. 18
Apr. 21
May 22
June 11
June 23
June 27
July
I
July 7
July 15
Aug. I
Aug. 3
Aug. 24
370
REPOET ON T H E FINANCES.
VOLUNTAEY LIQUIDATIONS.
Under section 5220 of the Revised Statutes a national banking
association may be placed in voluntary liquidation at any time prior
to the expiration of its corporate existence, under authority therefor
of a resolution adopted by shareholders representing at least twothirds of the capital stock. During the current year 115 associations,
with $29,123,500 capital stock, were closed voluntarily, of which 15,
with capital of $3,350,000, were absorbed by other national banking
associations; 25, with capital of $18,422,500, were consolidated with
other national banking associations; 20, with capital of $1,355,000,
were absorbed by state banks and trust companies; 23, with capital
of $1,230,000, liquidated to reorganize as sfate institutions; 10, with
capital of $3,350,000, liquidated to reorganize as other national
banking associations; 3, with capital of $175,000, the corporate
existence of which expired by limitation, were succeeded by new
national banking associations; 1, with capital of $100,000, the corporate existence of which expired by limitation, was absorbed by
another national banking association; and 18, with capital of
$1,141,000, closed to discontinue business. The following is a list
of banks placed in voluntary liquidation during the year ended
October 31, 1910, the names, where known, of succeeding banks, in
cases of succession, being also given.
NATIONAL B A N K S PLACED IN LIQUIDATION.
Gaston National Bank of Dallas, Tex. (7113); consolidated with Commonwealth
National Bank of Dallas.
First National Bank of Celina, Tex. (6046); succeeded by First State Bank of Celina.
Windber National Bank, Windber, Pa. (5242); absorbed b y the Windber Trust
Company.
Citizens National Bank, Ballinger, Tex. (6757); consolidated with First National
Bank of Ballmger.
Iowa State National Bank of Sioux City, Iowa (3968); absorbed by First National
Bank of Sioux City.
Amesbury National Bank, Amesbury, Mass. (2929); absorbed b y Powow River
National Bank of Amesbury.
Farmers National Bank of Olustee, Okla. (8754).
Naumkeag National Bank of Salem, Mass. (647); succeeded b y the Naumkeag Trust
Company, Salem, Mass.
Salem National Bank, Salem, Mass. (704); succeeded *by the Naumkeag Trust Company, Salem, Mass.
First National Bank of Temple, Okla. (6570); succeeded by First State Bank of
Temple.
Merchants and Planters National Bank of Mill Creek, Okla. (8546).
Big Sandy National Bank of Catlettsburg, Ky.^ (4200); succeeded b y the Kentucky
National Bank of Catlettsburg.
Trinity National Bank of Dallas, Tex. (9341); consolidated with City National Bank
of Dallas.
Foard County National Bank of Crowell, Tex. (9178); succeeded by First State Bank
of Crowell.
Citizens National Bank of •Johnstown, Pa.a (4212); absorbed b y Pirst National Bank
• of Johnstown.
Oakland National Bank of Gardiner, Me. (740); succeeded by the National Bank of
Gardiner. ,
Gardiner National Bank of Gardiner, Me. (1174); succeeded b y the National Bank of
Gardiner.
First National Bank of Columbiana, Ohio (6296); succeeded b y the Union Banking
Company.
0 Expired by limitation.
COMPTEOLLEE OF T H E CUEEENCY.
371
Connell National Bank of Connell, Wash. (8958); absorbed b y the State Bank of
Connell.
Commercial National Bank of Shenandoah, Iowa (8971); consolidated with the
Shenandoah National Bank.
Merchants National Bank of New Albany, Ind. (965); consolidated with Second
National Bank..
First National Bank of Walnut Springs, Tex. (8130).
First National Bank of New London, Iowa (5420).
Farmers National Bank of Marietta, Okla. (8278); succeeded b y the First State Bank
of Marietta.
First National Bank of Philo, 111. (6211); succeeded b y the Philo Commercial Bank.
City NationalBank of Kalamazoo, Mich. (3210); absorbed b y the Kalamazoo Savings
Bank.
First National Bank of Edwardsville, Pa. (8633).
National Security Bank of Lynn, Mass. (2563).
Citizens National Bank of Portal es, N. Mex. (8364); absorbed b y First National Bank
and Portales Bank and Trust Company.
Mineola National Bank of Mineola, Texas (8037); succeeded b y the Mineola State
Bank.
First National Bank of Union City, Tenn. (3919); succeeded b y the Old National Bank
of Union City.
Globe National Bank of Globe, Ariz. (8193); absorbed b y the First National Bank of
Globe.
First National Bank of Welsh, La. (6360); absorbed by Calcasieu Trust and Savings
Bank, Lake Charles, La.
First National Bank of Lake Arthur, La. (7047); absorbed b y Calcasieu Trust and
Savings Bank, Lake Charles, La.
First National Bank of Patterson, La. (5843).
First National Bank of Jennings, La. (5966); absorbed by Calcasieu Trust and Savings
Bank, Lake Charles, La.
First National Bank of Cor with, Iowa (5775).
Somerset County National Bank of Somerset, Pa. (4227); absorbed b y County Trust
Company, Somerset, Pa.
Peoples National Bank of Beckley, W. Va. (9038); absorbed by Raleigh County
Bank of Beckley.
Second National Bank of Winona, M'inn. (1842).
Merchants National Bank of Cincinnati, Ohio (844); consolidated with First National
Bank of Cincinnati.
Third National Bank of Glasgow, Ky. (6872); consolidated with Farmers State Bank
of Glasgow.
Farmers National Bank of Cushing, Okla. (8730); absorbed b y Farmers State Bank
of Cushing.
Farmers National Bank of Tulsa, Okla; (6669); succeeded b y the Exchange National
Bank of Tulsa.
National Copper Bank of New York, N. Y. (8665); consolidated with the Mechanics
and Metals National Bank, N . Y .
Farmers and Traders National Bank of Covington, Ky. (2722); consolidated with
First National Bank of Covington.
Capital National Bank of Topeka, Kans. (7907); consolidated with Central National
Bank of Topeka.
Fourth National Bank of Pittsburgh, Pa. (432); consolidated with National Bank of
Western Pennsylvania, Pittsburg, Pa.
First National Bank of Wabash, Ind. (129); absorbed b y Wabash National Bank.
Peoples National Bank of Elk City, Kans. (8708); absorbed b y First National Bank
of E l k City.
Clairton National Bank, Clairton", Pa. (6495); consolidated with Union Trust Company of Clairton.
Farmers and Merchants National Bank of Mount Vernon, Ohio (7248); absorbed by
Guaranty Savings. Bank and Trust Company of Mount Vernon, Ohio.
National Bank of Grand Haven, Mich. (4578); consolidated with Grand EEaven State
Bank.
First National Bank of Earle, Ark. (9324); consolidated with Crittenden County
Bank and Trust Company, Marion, Ark.
Citizens National Bank of Vancouver, Wash. (8987); consolidated with Vancouver
National Bank.
Commercial National Bank of Nacogdoches, Tex. (5991).
City National Bank of Ardmore, Okla. (4723); consolidated with First National
Bank of Ardmore,
372
REPOET ON T H E FINANCES.
FirstNational Bank, of Ruthton, Minn. (5892); absorbed b y the Ruthton State Bank.
Central National Bank of Kansas City, Mo. (8660); succeeded b y National Reserve
Bank of Kansas City.
First National Bank of Drake, N. Dak. (9524); succeeded b y Farmers State Bank of
Drake.
Hamilton National Bank of Chicago, 111. (6723); absorbed by National City Bank of
Chicago.
First National Bank of Fairbury, 111. (1987); succeeded b y First Bank of Fairbury.
National Bank of Poplarville, Miss. (8719); succeeded by Bank of Poplarville.
Northern National Bank of Hallowell, Me. (532); reorganized with 3247 as the Hallowell Trust and Banking Company, Hallowell.
Hallowell National Bank, Hallowell, Me. (3247); reorganized with 532 as the Hallowell
Trust and Banking Company, Hallowell.
American National Bankof Bartlesville, Okla. (7032); succeeded b y Union National
Bank of Bartlesville.
Farmers and Mechanics National Bank of Hartford, Conn. (1321); absorbed b y Hartford National Bank.
'
.
Merchants and Farmers National Bank of Carthage, Tex. (6152); succeeded by the
Guaranty State Bank of Carthage.
First National Bank of West Liberty, Ky. (7916); succeeded b y the Commercial
Bank of West Liberty.
First National Bank of Jackson, Ala. (5983); succeeded by a new state bank.
First National Bank of Shaw, Miss. (7200); succeeded b y The First State Bank of
Shaw.
Maine National Bank of Bath, Me. (782); absorbed by Lincoln National Bank of Bath.
Second National Bank of Chestertown, Md.a (4327); succeeded by The Third National
Bank of Chestertown, Md.
First National Bank of Liberal, Mo. (7094); absorbed b y Bank of Liberal.
Puget Sound National Bank of Seattle, Wash. (2966); consolidated with Seattle
National Bank.
First National Bank of Timpson, Tex. (6177); succeeded b y the Guaranty State Bank
of Timpson.
Washington National Bank of Pittsburgh, Pa. (6725).
American German National Bank of Paducah, Ky. (2070); consolidated with City
NationalBank of Paducah.
Union National Bank of Dallas, Tex. (9245); absorbed by Commonwealth National
Bank of Dallas.
National Bank of St. Marys, Kans. (4619); absorbed by First National Bank of St.
Marys.
Merchants National Bank of Houston, Tex. (5858); succeeded b y Union National
Bank of Houston.
Lincoln National Bank of Bath, Me. (761); consolidated with First National Bank of
Bath.
First National Bank of Waupaca, Wis. (4414); absorbed by Old National Bank of
Waupaca.
First National Bank of Butler, Ohio (6515); succeeded by a state bank.
National Bank of Norton, Kans. (8339).
National Bank of Poland, N. Y. (4223); succeeded by the Citizens National Bank of
Poland.
First National Bank of Saratoga, Wyo. (8961); succeeded by The Platte Valley Bank
of Saratoga.
American National Bank of Houston, Tex. (9226); absorbed by The Lumbermens
National Bank of Houston.
,
Deshler National Bank of Columbus, Ohio (4579); consolidated with The HaydenClinton National Bank of Columbus.
City National Bank of Wymore, Nebr. (9138); consolidated with. The First National
Bank of Wymore.
National Bank of Commerce of El Paso, Tex. (9155); consolidated with the First
National Bank of El Paso.
Columbia City National B a n k , Columbia City, I n d . (7175); consolidated with the
First National Bank of Columbia City.
Mercantile National Bank of Evansville, Ind. (8492); absorbed by the* Mercantile
Trust and Savings Company.
Commercial National Bank of Chicago, 111. (713); consolidated with The Continental
National Bank of Chicago.
o Expired by limitation.
373
COMPTBOLLEB. OP T H E CUBBENCY.
Richmond National Bank, Richmond, Me. (909).
San Francisco National Bank, San Francisco, Cal. (5096); consolidated with The
Bank of California National Association, San Francisco, Cal.
Merchants National Bank of Philadelphia, Pa. (2462); consolidated with The First
National Bank of Philadelphia.
Third National Bank-of Louisville, Ky.- (2171); consolidated with The Southern
National Bank of Louisville.
Dairymens National Bank of Sheboygan Falls, Wis. (5947).
First National Bank of Princeton, Tex. (8611).
Richmond National Bank, Richmond, Ky.^ (4430); succeeded -by the Southern
National Bank of Richmond.
Farmers National Bank of Hamburg, Iowa (6017).
Fletcher National Bank of Indianapolis, Ind. (5116); succeeded by The FletcherAmerican National Bank of Indianapolis, Ind.
American National Bank of Indianapolis, Ind.. (5672); succeeded by The FletcherAmerican National Bank of Indianapolis, Ind.
Prairie National Bank of Chicago, 111. (7358); absorbed by Western Trust and Savings
Bank of Chicago.
Borough National Bank of North Plainfield, N. J. (9391); succeeded bv The State
Trust Company of North Plainfield.
Commercial National Bank of Beaumont, Tex. (9357); absorbed by The Gulf National
Bank of Beaumont.
Grand Rapids National Bank, Grand Rapids, Mich. ''2460); consolidated with Grand
Rapids National City Bank,.Grand Rapids.
First National Bank of Baton Rouge, La. (2633).
First National Bank of Maddock, N. Dak. (8226); succeeded by Farmers State Bank,
°Maddock.
Arlington National Bank of Lawrence, Mass. (4300); absorbed by Arlington Trust
Company, Lawrence.
Olive Hill National Bank, Olive Hill, Ky. (7281).
Ladysmith National Bank, Ladysmith, Wis. (7966); absorbed by State Bank ofLadysmith.
Brookline National Bank, .Brookline, Mass. (3553); consolidated with The Norfolk
Trust Company, Brookline.
Western National Bank of San Francisco, Cal. (5688); absorbed by The Western
Metropolis National Bank of San Francisco.
RATES FOR MONEY.
I n connection with the loans and discounts of banks, hereinbefore
referred to in detail, the following table relating to the range and
average rates for money in the New York market during the year, as
reported by the William B. Dana Company, shows that the rates
generally were normal, with slight fluctuations, except in respect of
call loans.
R A N G E AND AVERAGE R A T E S FOR M O N E Y IN THE N E W Y O R K MARKET, Y E A R
ENDED OCTOBER -31, 1910.
1909.
1910.
Character of loans.
November.
December.
3 to 6
4 to 7
4f
January.
41
Call loans, stock exchange:
Range.
Time loans:
30 days
60 days
90 days
4 months
5 months...
6 months
,
Commercial paper:
Double names, choice, 60
to 90 days
Single n a m e s Prime, 4 to 6 months.
Good, 4 to 6 months...
4^ to 5^
4ito5i
4^0 5
4|to5
4^ to 5
n o 14
February.
2 to 3
2f
• 3^ to 3a
3^ to 3a
3^ to 4
3f to4
3ito4i-
March.
April.
1^ to 3§
21
to 7
3i
3^ to 4
3 ^ 0 4i
3 | to 4^
3 | to 4 |
3f to 4^
3^to4J
3|to4^
4 to4|
4 to4|
4 to4i
4^0 5
Sfto 41
4^ to 4|
4i to 4f
4J to 4f
4
•4
4
4
4f to 5h
4f to5^
4^0 5
4 to 41
4 to 5
4ito5-
5 to 6
5^ to 6
^
4f to 5h
5 to 6
4^0 5
5 to 5^
4ito5
4a to 5^
4Ho5
. 4a to 5 |
4i to 5i
5 to 6
4ito4f
to
to
to
to
a Expired by limitation.
4f
4^
41
4i
374
REPOKT ON T H E EINANCES.
R A N G E AND AVERAGE R A T E S FOR M O N E Y IN T H E N E W Y O R K MARKET, Y E A R
ENDED OCTOBER 31, 1910—Continued.
1910.
Character of loans.
May.
Call loans, stock exchange:
Range
Average
Time loans:
60 days
90 days
,
4 months
,
6 months
,
6 months
;
Over the year
Commercial paper:
Double names, choice, 60
to 90 days
Single n a m e s Prime, 4 to 6 months.,
Good, 4 to 6 months...
July.
June.
August.
September.
October.
2i to 6
31
2 to 3^
2||
1 to 3^
. 2^
1 to 2
Uto 3
2
Hto 4
3^ to 4^
3^ to 4^
3J to 4^
4 to 4 ^
'
4 to 4^
4ito5
. 3 to 3i
3 to3f
3^ to 3f
3f to 4i
4 to4^4^ to 4'i
3J: to 31
3^ to 4^
4 to 4f
4^0 5
4f to 5.i|
2i to 3 1
^
3i to 4i
4 to4|
4^0 5
4ito5
3-} to 4i|
4 to 4*
4^ to 5
4.^ to 5
4 | to5
4 to 4Jl
4h to 5
4 | to 5
4 | to 5
4^ to 5
4^0 5
4i to5
5 to 5;
5 to 5jj
51 to 5f
5i to 6
4^0 5
5 to 6
4-i- to 5.i|
5 to 6
5 too
55 to 6||
51 to 6
6 toOi
5^0 6
5ito6
5^ to 6^
CLEARING-HOUSE
6 to 6^1
TRANSACTIONS.
From Manager William Sherer of the New York Clearing Ho-use
returns have been obtained in relation to the exchanges of clearing
houses of the United States for the year ended September 30, 1910,
compared in each instance with the returns for September 3(), 1909.
The number of exchanges relative to which data are submitted is
137, the volume of their business as represented by the exchanges
for the current year being $169,025,172,600, as compared with
$158,877,192,100 for 1909. ^ With the exception of Cincinnati, Ohio,
Houston, Tex., Greensburg, Pa., Freemont, Nebr., Franklin, Pa.,
Colorado Springs, Colo., and Vicksburg, Miss., a larger volume of
business was transacted than during the prior year. The reduction
of business in the cities named aggregated $58,261,200, resulting in
a net increase of all associations auring the year of $10,147,980,500.
The exchanges of New York Clearing House Association represent
approximately 60 per cent of the clearings of all associations in the
country and in the current year reached $102,553,959,100, an amount
exceeding by $3,296,296,700 the business for the year 1909, and was
within $1,200,140,901 of the maximum amount during the life of
the New York Clearing 'House Association. The highest point was
reached in the year ended September 30, 1906, and amounted to
$103,754,100,091. The membership of the New York association
consists of 50 banks with aggregate capital of $132,350,000.
The amount of balances used in the settlement of exchanges of
the New York Clearing House in the last year was $4,195,293,966.90,
or 4.09 per cent of the exchanges. Gold to the extent of 88 per cent
and legal tenders amounting to 12 per cent were used in settlement
of balances. The clearing-house transactions of the assistant treasurer of the United States at New York for the year ended September
30, 1910, aggregate $669,854,495.25, of which $659,698,079.21 were
exchanges received from the clearing house and $10,156,416.04
balances received. During the same period exchanges delivered to
the clearing house aggregated $419,538,712.71, and the balances paid
to the clearing house $250,315,782.54.
COMPTROLLER OF T H E CURRENCY.
875
UNITED STATES POSTAL SAVINGS LAW.
The act of Congress, approved June 25, .1910, authorizes the establishment of postal savings depository offices and creates a board of
trustees, consisting of the Postmaster-General, the Secretary of the
Treasury, and the Attorney-General, severally, acting ex officio, with
power to designate such post-offices as it may select to be postal
savings depository offices. This board has control, supervision, and
administration of all postal savings offices and of the funds deposited
therein by virtue of this act, and has authority to make all necessary
and proper regulations for the receipt, transmittal, custody, deposit,
investment, and repayment of such funds.
Any person, of the age of 10 years or over, may open an account, in
his or her own name, in any postal savings depository, but no person
can have more than one such account in his or her own right. Deposit
accounts may be opened in the following ways: First, by the deposit
of $1 or a larger amount in multiples thereof; second, by purchasing
for 10 cents a postal savings card and attaching thereto 10-cent
postal savings stamps and depositing the card and stamps in the
amount of $1, or any multiple thereof.
Additional deposits may be made in cash in amounts of $1 or multiples thereof, or by card and 10-cent stamps in corresponding amounts,
but no person is permitted to deposit more than $100 in any one calendar month, and the balance to the credit of any person can never
exceed $500.
Interest at the rate of 2 per cent per annum will be allowed on all
deposits, and any person may withdraw the whole or any part of his
or her deposit, with accrued interest, upon demand and under such
regulations as the board of trustees may prescribe.
Of the postal savings bank funds, 5 per cent shall be deposited as
a reserve'with the Treasurer of theUnited States, who is the treasurer
of the board of trustees. The remaining funds may be deposited in
national or state banks at a rate of interest of not less than 2J per
cent, and on the security of such public bonds or othfer securities supported by the taxing power as the board may approve. Not exceedmg 30 per cent of the total funds may be used by the board in the
purchase of bonds or other securities of the United States, except
that by the direction of the President and only when in his judgment
the general welfare and the interests of the United States so require
the remaining 65 per cent may be withdrawn from the banks for
investment in bonds or other securities of the United States.
Postal savings funds shall be deposited in solvent banks, whether
organized under national or state laws, and subject to national or
state supervision and examination,^ in operation at the locality of the
postal savings depository office, if they are wilhng to accept the
deposit, but the total deposit in any bank shallnot exceed its capital
and one-half of its surplus. I n the absence of any bank in the locality fulfilling the requirements of the act and willing to accept, the
deposit, the money shall be deposited in the bank most convenient
to such locality, and in the event there is no such bank in the State
or Territory willing to receive the funds, then they shall be placed in
the reserve fund with the treasurer of the board. Any deposit with
a bank may be withdrawn at the pleasure of the board.
376
REPORT ON T H E FINANCES.
Provision is made in the act for the conversion, under certain conditions, of deposits in postal savings depositories in the amount of
$20 or multiple thereof, into bonds of the United States bearing
interest at the rate of 2^ per cent, payable semiannually.
The faith of the United States is pledged to the payment of any
deposit made in postal savings depository offices.
The trustees are engaged in the formation of plans in detail for the
administration and operation of postal savings depositories and it is
expected that the designated offices will be ready for the receipt of
deposits by the first of the new year.
The following is a list of post-offices, so far designated, as postal
savings depositories:
Location.
Town.
State.
Alabama
Arizona
Arkansas.
California
Colorado
Connecticut
Delaware.
Florida . .
Georgia
Idaho
.
Illinois
Indiana
Iowa .
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts.. .
Michigan
Minnesota
Mississippi
Missouri
Montana
Location.
Bessemer.
Globe.
Stuttgart.
Oroville.
Leadville.
Ansonia.
Dover.
Key West.
Brunswick.
Coeur d'Alene.
Pekin.
Princeton.
Decorah.
. . . . . Pittsburg.
Middlesboro.
. New Iberia.
Rumford.
Frostburg.
Norwood. ,
Houghton.
Bemidji.
Gulfport.
Carthage.
Anaconda.
State.
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
NewYork
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah..
Vermont .
Virginia
Washington
West Virginia
Wisconsin.
Wvoming
Town.
Nebraska City.
Carson City.
Berlin.
Rutherford.
Raton.
Cohoes.
Salisbury.
Wahpeton.
Ashtabula.
Guyman.
Klamath Falls.
Dubois.
Bristol.
Newberry.
Deadwood.
Johnson City.
Port Arthur.
Provo.
. Montpelier.
Clifton Forge.
Olympia.
Grafton.
Manitowoc.
Laramie,
NATIONAL CURRENCY ASSOCIATIONS.
I n the annual report of the Comptroller of the Currency for 1908
the salient provisions were published of the aict of May 30, 1908, providing for the formation of national currency associations and the
issue of additional national-bank currency.
Under this act national currency associations may be formed by
any number of national banks,^not less than 10, with aggregate capit a l and surplus of at least $5;000,000, and located in contiguous territory. No national bank, however, may be a member of a currency
association unless it has an unimpaired capital and a surplus amounting
to at least 20 per cent of its capital. I t is further provided that to be
entitled to issue additional currency a national bank, a member of a
currency association, shall have circulation outstanding, secured by
United States bonds, aggregating not less than 40 per cent of the
capital stock. Additional circulation provided by this act may only
be issued upon the recommendation of the Comptroller and approval
of the Secretary of the Treasury. The maximum circulation issuable
by a bank on United States bonds, and under authority of the act of
May 30, 1908, is measured by the capital and surplus of the bank.
COMPTROLLER OF THE CURRENCY.
377
The officers of a currency association, on behalf of one of the bank
members, may apply for authority to issue additional circulation to
an amount not exceeding 75 per cent of the cash value of the securities
or commercial paper deposited with the association, and upon deposit
of state, city, town, county, or other municipal bonds of the character
prescribed by the act may obtain for issue circulating notes to the
extent of 90 per cent of the market value of the bonds deposited.
The issue of additional circulation on commercial paper, however, is
limited to 30 per cent of the unimpaired capital and surplus.
The act contemplates that no additional circulation shall be permitted to be issued unless, in the judgment of the Secretary of the
Treasury, conditions in the country at large, or in a special locality,
warrant such action, and under section 8 of the act it is made the
duty of the Secretary of the Treasury to obtain information with
reference to the value and character of securities authorized to. be
accepted, and from time to time to furnish information to nationalbanking associations as to such securities as would be acceptable
under the provisions of the act.
Tbe act further provides for an issue of circulating notes and the
incorporation of the statement upon their face that''' they are secured
by United States bonds or other securities,'^ certified by the written
or engraved signatures of the Treasurer and Register and by the imprint
of the seal of the Treasury. They shall also express upon their face
the promise of the association receiving the same to pay on demand,
attested by the signature of the president or vice-president and
cashier. Under this requirement, circulation has been prepared for
every national banking association, and there is stored in the reserve
vault of the bureau a stock of incomplete currency amounting to
$500,000,000. So far, no circulating notes, other than those secured
by United States bonds, have been issued, but all incomplete currency
shipped to a bank bears the legend quoted.
On June 30, 1910, the nurooer of national banks reporting was
7,145, with paid-in capital of $989,567,114 and surplus of $644,857,482.82. Of these banks, 5,699 had circulation secured by United
States bonds equal to or exceeding 40 per cent of the capital, and 1,415
circulation less than that proportion.
I n less than thirty days after the passage of the emergency-currency
act a national currency association was formed in the District of
Columbia, of which all of the 11 banks in the District were members.
The aggregate capital and surplus of the banks at that time were
$5,202,000 and $3,942,000, respectively. The president of the association is Mr. William J. Flather of the Ri^gs National Bank of Washington, and the secretary, Mr. H. H. McKee, of the National Capital
Biank of Washington.
On September 1, 1910, there were 12 national banks in the District
of Columbia, having capital of $6,052,000 and surplus of $4,450,645.
While the formation of other currency associations was undertaken,
none was perfected in a manner acceptable to the Secretary of the
Treasury until the midsummer of 1910, by reason of what were
regarded as insurmountable obstacles on the part of banks interested.
These obstacles, however, were in a large measure overcome by a
revised construction of the law.
378
REPORT ON T H E FINANCES.
Under date of September 16, 1910, the following rulings of the
Treasury Department in regard to certain sections and phrases concerning the issue of additional circulation were approved:
I. WITHDRAWAL OF A B A N K PROM A CURRENCY ASSOCIATION.
Any member of an association may withdraw therefrom providing—
1. T h a t at the time of such withdrawal there shall be no unredeemed additional
circulating notes issued to the association;
2. That the unanimous consent of the executive committee of the board of managers
of the association shall be obtained; and
<
^
3. That the Secretary of the Treasury of the United States shall approve.
II.
REDEMPTION F U N D FOR ADDITIONAL CIRCULATION.
Section 3 of the act of June 20, 1874,-provides that a national bank must keep on
deposit in the Treasury of the United States a sum equal to 5 per centum of such circulation as is provided for in that act. Section 6 of the act of May 30, 1908, provides
that the banks shall keep on deposit in the Treasury of the United States an additional sum equal to 5 per centum of such additional circulation at any time outstanding.
The department is of the opinion that the redemption fund to be deposited in the
Treasury on account of additional circulation authorized by the act is not required
to exceed 5 per centum of such additional circulation, and that Congress intended only
to extend to the additional currency the original provisions for a 5 per cent redemption
fund hitherto provided for the ordinary bond-secured circulation.
III.
E X T E N T OF TERRITORY TO B E COMPREHENDED BY A CURRENCY ASSOCIATION. .
In regard to the extent of territory to be comprehended by a currency association,
attention is called to the following provisions of the act of May 30, 1908:
1. That there shall not be more than one such association formed in any city.
2. That the member banks "shall be taken, as nearly as conveniently may be,
from a territory composed of a State or part of a State, br contiguous parts of one or
more States."
3. ' ' T h a t any national bank in such city or territory, * * * shall, upon its
application to and upon the approval of the Secretary of the Treasury, be admitted
to membership in a national currency association for that city or territory," ^ * *
These provisions are construed to mean (1) that the territory to be included in the
currency association of a particular city must be at least coextensive with the limits
of the city, and (2) that if the territory to be covered by an association has been fixed
in the approved by-laws, all banks,within that territory must, if properly qualified,
be admitted to membership. . In other words, if the by-laws stated that the membership in an association shall be composed of banks doing a business within a State, no
national bank within the State would be excluded from membership, provided that
it was otherwise qualified. On the other hand, if the by-laws limited membership
to banks doing a business within a county, then only the national banks in that county
would expect"to attain membership.
IV.
SECURITY FOR ADDITIONAL CIRCULATION.
Section 1 provides that the national currency associations may use as a basis for
additional circulation ' ' a n y securities, including commercial paper, held by a national
banking association." The term "commercial paper " is thereafter defined to include
" o n l y notes representing actual commercial transactions, which when accepted by
t h e association shall bear the names of .at least two responsible parties and have not
exceeding four months to r u n . " These requirements will be satisfactorily met by
single-name paper arising from actual commercial transactions if indorsed b y the
bank desiring additional currency.
Section 3 permits the issue of additional notes on the security of bonds of a municipality or district in the United States "whose net funded indebtedness does not
exceed 10 per centum of the valuation of its taxable property, to be ascertained by
the last preceding valuation of property for the assessment of taxes."
(1) The phrase " n e t funded indebtedness" is held to mean the entire bonded debt
of a municipality, less any bonds not yet sold, or nny bonds repurchased and not
canceled, as for sinking fund accoimt.
COMPTROLLER OF THE CURRENCY..
379
(2) The phrase "valuation of its taxable property" is construed to mean the valuation of taxable property as estimated by the assessor. Where the law; prescribes that
the assessors shall estimate the value of all property subject to taxation at its actual
value, and that the taxes shall be assessed at a fraction of such value, the valuation
of taxable property.is understood to mean the actual valuation as estimated by the
assessors. Where, however, the law makes no distinctions between actual and taxable
value of property, the "valuation of taxable property" is construed to mean the
taxable value upon which the actual taxes are levied.
A. PIATT ANDREW,
Acting Secretary.
Prior to the announcement of these ruhngs a national currency
association was formed in the city of Philadelphia, with a membership of 28 banks; capital stock $20,825,000 and surplus $33,075,000.
The date of the organization of this association was July 29. The
resident of the association is Mr. Levi L. Rue, of the Philadelphia
[ational Bank, and the secretary, Mr. H. W. Lewis, of the Farmers
and Mechanics National Bank.
The number of national banks in Philadelphia on September 1,1910,
was 33, with a capital of $22,405,000 and surplus of $35,515,000.
On the same date of formation of the Philadelphia association 35
of the national banks in the city of New York organized *^The
National Currency Association of the City of New York,'' the capital
of the banks represented being $115,252,000 and surplus $122,295,000.
On September 1 there were 39 national banks in the city of New
York, with aggregate capital of $119,900,000 and surplus of $125,055,000. The officers of the New York association are: President,
A. B. Hepburn, of the Chase National, and secretary, Edward Townsend, of the Importers and Traders National Bank.
On August 4 the National Currency Association of the State of
Louisiana was formed, with a membership of 10 and with capital of
$6,100,000 and surplus $3,840,000. All of the national banks in New
Orleans are members of the association, together with 5 located
elsewhere in the State. The total number of national banks in New
Orleans and elsewhere in Louisiana on September 1 was 31, with
capital of $8,070,000 and surplus of $4,957,365. The officers of the
Louisiana association are: President, Charles Godchaux, of the Whitney Central National Bank of New Orleans, and secretary, A. Breton,
of the German American National Bank of New Orleans.
The National Currency Association of t h a city of Boston was
organized August 16, with a membership of 15, representing a capital
of $18,450,000 and surplus of $15,650,000. The officers of the association are: President, Thomas P. Beall, of the Second National Bank
of Boston, and secretary, A. W. Newell, of the Fourth NationalBank.
The capital and surplus of the 20 national banks in Boston on September 1 were $22,950,000 and $18,050,000, respectively.
On August 18 the National Currency Association of Georgia was
formed. The membership of this association is 21, representing
capital of $6,356,000 and surplus of $4,867,000. The officers of the
association are: President, Robert J. Lowiy, of the Lowry National
Bank of Atlanta, and secretary, Joseph A. McCord, of the Third
National Bank of Atlanta, The reserve city of Savannah has 1
representative in the association, the remaining members being nonreserve city banks.
On September 1 there were 113 national banks in the State of
Georgia, with capital of $13,253,580 and surplus of $7,070,736.
£
380
REPORT ON THE FINANCES.
'v.
The National Currency Association of St. Louis was formed on
September 13, with a membership of 11, the capital and surplus of
the banks represented being $19,660,000 and $12,145,000, respectively. B u t t of the 10'national banks in St. Louis are members
,of this association, the remaining members being banks located in
towns adjacent to that city. The president of this association is
C. H. Huttig, of the Third National, and the secretary, Wm. H.
Hoxton, of the St. Louis Clearing House Association.
The National Currency Association of the City of Chicago was
organized on October 14, with a membership of 11; capital
$41,250,000 and surplus $22,350,000. The president of the association is George M. Reynolds, of the Continental and Commercial
National Bank, and the secretary, William A. Heath, of the Live
Stock Exchange National Bank. Every national bank in Chicago is
a member of this association.
The capital and surplus of the 11 national banks in Chicago on
September 1 were $41,400,000 and $22,188,000, respectively.
On October 31, 1910, the National Currency Association of The
Twin Cities (St. Paul and Minneapolis, Minn.) was. organized, with
14 members, representing $10,650,000 capital and $9,005,000 surplus.
The membership of this association consists of all the national banks
in St. Paul, 3 in Minneapolis, and 5 in other towns of that locality.
The president of this association is J. W. Lusk, ofthe National German
American Bank of St. Paul, and secretary, George C. Power, of the
Second National Bank of St. Paul.
The National Currency Association of the city of Detroit was
organized on September 27 with a membership of sixteen, the capital
of the bank members being $6,725,000 and their surplus $2,940,000.
All of the national banks in Detroit (4 in number), their capital and
surplus being $5,150,000 ahd $1,850,000, respectively, are members
of this association. The remaining members are banks located in
other cities of the State adjacent to Detroit. The president of the
association is Mr. John T. Shaw, of the First National Bank of Detroit,
and the secretary, Mr. Richard P . Joy, of the National Bank of Commerce, of Detroit.
As of interest to others having in view the formation of national
currency associations, there is submitted herewith a copy of the
by-laws of the National Currency Association of the City of NewYork:
ARTICLE I.—MEMBERSHIP.
SECTION 1. Membership in this association shall consist of national banks doing a
business within the boroughs of Manhattan, the Bronx, Queens, Brooklyn, and Richmond, of the city of New York, and Long Island.
SEC 2. All applications for membership shall be in the form of a certified copy of a
resolution of the directors of the applicant, filed with the secretary of the association.
Such applications shall by him be referred at once to the committee on membership.
The report oi the committee on membership shall be presented to the board and shall
be submitted to the Secretary of the Treasury of the United States with the recommendation of the board, and if approved by him the applicant shall thereupon become
a member of the association.
SEC. 3. Any member of this association may withdraw therefrom, with the approval
of the Secretary of the Treasury of the United States and the consent of the executive
committee of the board of managers of the association, providing at the time of such
withdrawal there shall be no unredeemed additional circulating notes issued to this
association.
COMPTROLLER OF T H E CURRENCY.
381
ARTICLE I I . — B O A R D OF MANAGERS.
SECTION 1. Each member of this association shall file with the secretary of the .
association and with the Secretary of the Treasury a certified copy of a resolution of
its board of directors, authorizing its president or any vice-president to act on the
board as its representative, but no bank shall have more than one representative
upon such board at any one time.
SEC. 2. (a) The annual meeting of the board shall be held at the office of the association on the second Tuesday of June in each year, for the purpose of receiving
reports of officers and committees for the preceding year and for the election of officers
and the appointment of committees for the ensuing year.
(6) Special meetings of the board may be called at any time by the executive committee or the president, or vice-president, and shall be called by the president, vicepresident, or secretary upon the request of five members of the association.
(c) Notice of each special meeting, stating the time and place, shall be given by the
secretary to each member of the association.
SEC. 3. A majority of the members of the board shall be necessary to constitute a
quorum, but a less number may adjourn from time to time.
ARTICLE I I I . — E X P E N S E S OF THE ASSOCIATION.
SECTION 1. The expenses of the association shall be defrayed out of a fund to be
raised by the board or executive committee from time to time by assessment upon
the members in the proportion which their capital and surplus respectively bears to
the aggregate capital and surplus of all the members of the association.
SEC. 2. The assessment and collection of such fund and its disbursement shall be
regulated and controlled b y the board or the executive committee.
ARTICLE IV.—COMMITTEES.
SECTION 1. There shall be an executive committee, consisting of seven members of
the board, of which the president and vice-president of the association shall be two
members ex officio. The executive committee shall be appointed by the board at
its annual meeting, and except in the matter of the election of officers and the making
of by-laws, may exercise all the powers of the board when the latter is not in session,
and shall, among other duties, pass upon all securities, including commercial paper,
offered as a basis for additional circulation. Vacancies in the executive committee
may be filled by the board from time to time.
SEC. 2. There shall be a committee on membership, consisting of five members of
the board, of which the secretary shall be a member ex officio, appointed by the
board at its regular annual meeting. Vacancies in this committee shall be filled by
the board. The powers and duties of the committee on membership shall be such
as are in these by-laws defined, with such additional powers and duties as may be
conferred from time to time by Jihe board or the executive committee. .
SEC. 3. There shall be a committee on nominations, consisting of five members of
the board, to be appointed by the board or executive committee in advance of each
annual meeting. I t shall be the d u t y of the committee on nominations to present
to the annual meeting of the board names for president, vice-president, secretary, and
treasurer, and members of the executive and membership committees. Vacancies
in such committees shall be filled by the board or by the executive committee.
ARTICLE V . — O F F I C E R S .
SECTION 1. The officers of the association shall be a president, vice-president, secretary, and treasurer, each of whom shall ^be elected by the board at its annual meeting
and each of whom shall be a member of the board and hold office for one year, or until
his successor is appointed.
SEC. 2. The officers shall perform the duties usually pertaining td their respective
offices, subject to the supervision and direction of the board and executive committee.
ARTICLE V I . — S E A L . '
SECTION 1. The seal of the association shall be circular in form, with the name of
the association around the circumference thereof, and the word " S e a l " and the
figures "1910" in the center thereof.
382
REPORT ON T H E FINANCES.
ARTICLE V I I . — A M E N D M E N T S .
SECTION 1. These by-laws may be amended by the board at any regular or special
meeting, provided written notice of the proposed amendment has been given to
each member of the association at least one week in advance of such meeting, subject
to the approval of the Secretary of the Treasury of the United States.
APPLICATIONS FOR ADDITIONAL CIRCULATION.
Forms have been prepared by the department, to. be used in
applying for authority to issue additional circulation under the act
of May 30, 1908, copies of which follow:
APPLICATION FROM A NATIONAL CURRENCY ASSOCIATION F O R T H E I S S U E OF ADDITIONAL
CIRCULATION.
Office of the National Currency Association of 191The COMPTROLLER OF THE CURRENCY.
SIR: The National Currency Association of •
:
, hereby certifies that it
has received, in trust for the United States, from the
National Bank
of
, the following-described securities, the same being of the cash value of
dollars ($
):
and hereby applies for the issue to this' association of the circulating notes of the said
bank in the amount of
dollars ($
).
• Respectfully,
, President.
, Secretary.
R E Q U E S T F O R AUTHORITY TO ISSUE ADDITIONAL CIRCULATION ON SECURITIES OTHER
THAN UNITED STATES B O N D S .
Date
The COMPTROLLER OP THE CURRENCY,
Washington, D . C.
SIR: The
National Bank of
unimpaired capital $surplus $
, United States bond-secured circulation $
requests authority
to issue additional circulation, under section 3 of the act approved May 30, 1908, to the
amount authorized, on the security of bonds and other obligations hereinafter scheduled. The corporations issuing the bonds, etc., have been in existence for at least
ten years, and in that period have not defaulted in the payment of any part of either
principal or interest of any authorized funded debt.
Respectfully,
, Cashier.
(NOTE.—In the column headed • 'Character" insert coraplete but brief description of bonds or other
obligations tendered.)
Corporations
issuing
bonds or other obligations.
Securities tendered.
Character.
I
*
*
*
*
Amount.
*
:|!
:!:
Interest
rate.
Present
market
value per
SlOO.
Valuation Net funded
of taxable indebtedproperty.
,ness.
COMPTROLLER OF T H E CURRENCY.
"383.
BANKS AND BANKING IN THE UNITED STATES.
The act of February 19, 1873, relating to the annual report of the
Comptroller of the Currency contained a provision for the incorporation therein of information relative to the resources, liabilities, and
condition of banks, banking companies, and savings banks organized
under the laws of the several States and Territories, the information
to be obtained from reports made by such institutions to the legislature or officers of the different States and where such reports can not
be obtained the deficiency to be supplied from such other authentic
sources as may be available. In reference to this requirement, the
Comptroller in his report for 1873 stated that the deficiency of official
reports is shown by the fact that he had been able to obtain information in respect of the condition of banking institutions in only 8
of the 37 States in the Union and the District of Columbia, and
none at all froiri the 9 Territories. The available returns consisted
of reports from the New England States, New York, New Jersey,
and the District of Columbia. In the statements compiled from the
returns the number of reporting institutions is not given, but it appears that the deposits in savings banks were $669,324,917 and the
aggregate assets of these institutions $701,229,392. The number of
depositor accounts was 1,109,995 and the average amount to the credit
of each depositor in the savings banks in the New England States was
$315.73. The returns from the state banks, including savings banks
having capital stock, stated capital aggregating $42,705,834, deposits
$110,754,034, and aggregate resources of $178,881,407.
The report of the Comptroller for 1876 contained what was regarded as the most complete history of the condition of banks in the
United States from the foundation of the Government to that date.
Included in the general history were statistics based upon information for the year covered by the report. Returns were received from
686 savings banks located in 12 States of the Union, the aggregate
deposits amounting to $892,785,553 and the aggregate assets to
$951,353,544. The number of depositors in institutions of this character was stated at 2,414,952, and the average deposit account $369.69.
Trust companies were in operation in 6 of the States and the capital
of the 38 reporting institutions of this character was stated at
$21,535,490, deposits $87,817,992, and aggregate assets $127,646,179
Reports were also received from 633 state (commercial) banks having
capital of $80,425,634, deposits $157,928,658, and aggregate assets
of $278,255,852. The number of all state institutions reporting in
1876 was 1,357, the capital stock $101,961,124, deposits $1,138,532,203, the total amount of assets $1,357,255,575.
Prior to 1887 the office depended for official returns upon the various
state banking departments, or other state officials having supervision
over state banks and their returns, and to a limited extent upon information from managers of the clearing houses. In 1887, by reason
of the fact that from many of the States it was impossible to obtain
information in relation to the condition of banks therein the Comptroller inaugurated the plan of making a personal request for a report
of condition from every bank located in such States. This plan has
been pursued up to the present time, but the inquiries are now con-
384
REPORT ON T H E FINANCES.
fined, with a few exceptions to private banks and bankers doing business in States the laws of which do not require reports to be made by
them to any public official.
While the annual reports of the Comptroller have contained statistics relating to the various classes of State banking institutions relative from which reports were obtainable their value has been materially affected by reason of the lack of uniformity in dates of reports
and in the classification of items of resources and liabilities.
Some two years since a committee of state bank superintendents
formulated a plan for adoption by the state banking authorities generally providing for uniformity of bank reports and at the same time
the question was considered of attempting to secure amendments to
the state banking laws, where necessary, authorizing the superintendents of state banking departments to arrange for simultaneous reports
from all banks in each State. To a limited extent, this authority
exists and in a number of States reports are called for to time with
one or more calls during each year made upon national banks by the
Comptroller of the Currency.
For some years past it has been the custom of the Comptroller,
when he issues a call for reports from national banks to telegraph
the advice to all state banking superintendents who desire the information, in order, if they deem it expedient, that they may call for
reports from banks subject to their supervision for the same date.
When these joint calls are made, however, there is no authentic
assembling of the returns except when required by the Comptroller
for his annual report to Congress. For years prior to 1909 the Comptroller secured information relative to the condition of banks other
than national for his annual report from returns on the date of or
nearest to that of his midsummer call on national banks and necessarily the returns covered a wide range of time. Frequently the
latest obtainable data for banks in certain States related to conditions
six to nine months previous to the selected date.
As the banking and other interests look to the Comptroller for
statistical and general information relating to banking, and to enable
him to satisfactorily comply with the demand, the state banking
laws should be so amended as to permit of the cooperation along this
line between the federal and state banking departments.
Voluntarily, for the first time^. during the existence of the national
banking system, cooperation with the Comptroller in respect of
simultaneous returns by state bank superintendents and state banks
and bankers, was effected for April 28, 1909, when practically corresponding reports were secured for the National Monetary Commission and the Comptroller from all national and from nearly 90 per
cent of the state and private banks. The nonreporting banks were
mainly those that were unincorporated—that is, private banks and
bankers. The returns so obtained formed the basis for the most
complete and therefore the most valuable statistics in relation to the
banks in this country that were ever compiled.
In continuation of the work of 1909 the Comptroller caused to be
prepared a special form of report corresponding very generally to
that furnished to national banks and sent copies, with letter of
request for submission of the information desired, to all banks in the
country, either through the various state banking departments.or to
the banks direct, the request calling for a report at the close of busi
COMPTROLLER OF T H E
385
CURRENCY.
ness on June 30, 1910, the date upon which returns were subsequently
called for from all national banks.
Reports were received on April 28, 1909, from 22,491 banks ancj
banking institutions with total paid in capital of $1,800,036,368,
surplus fund and other undivided profits $1,834,625,428.93, an amount
exceeding by about $34,500,000 the paid in capital stock. The individual deposits of banks were $14,035,523,165.04, and their total
assets $21,095,054,420.72. The principal assets were as follows:
Loans and discounts $11,373,217,691.38, bonds, securities, etc.,
$4,614,442,216.27, cash on hand $1,452,014,676.34.
On June 30, 1910, reports were obtained relative to the condition
of 23,095 banks, a greater number by 604 than in 1909.
The value of the statistics submitted herewith is in a measure
impaired by the refusal or neglect of a large number of incorporated
banks in three of the Southern States and private banks in three
Western States (Georgia, Alabama, Mississippi, Tennessee, Illinois,
Michigan, and Iowa) to comply with the request for reports. I n
one of the Eastern States (Pennsylvania) the figures relating to a
number of banks that failed to report on June 30 were obtained from
their official returns to the state banking department in the prior
Noyember.
The capital stock of all reporting banks on June 30, 1910, was
$1,879,943,887.99, an increase oyer 1909 of $79,907,519.99. The
combined surplus and other undivided profits are shown to have been
$1,952,566,187.98, an increas'e over the prior year of $117,940,759.05.
Individual deposits on June 30, 1910, were $15,283,396,254.35 or
greater than in 1909 by $1,247,873,089.31. The total assets of the
banks increased to $22,450,320,522.77, or a greater amount by $1,355,266,102.05 than in 1909.
Statements in detail relating to loans and discounts, bonds, securities, etc., cash in bank, and individual deposits, appear hereinafter,
but there is submitted herewith a summary of the consolidated
returns for April 28, 1909, and June 30, 1910, the increase or decrease
in the various items being shown separately.
1910.
Items.
7,145
15,950
n a t i o n a l state, etc.,
banks.
banks.
1909.
Total,
23,095
banks.
Total,
22,491
banks.
Increase
1910 over
1909
(banks,
604).
Millions. Millions. Millions. Millions. Millions.
Loans and discounts
S5,455.9 $7,065.9 $12,521.8 $11,373.2
United States bonds and all other bonds and securities 1,612.0 3,111.4
4,723.4
4,614.4
Cash
558.4
1,423.8
1,452.0
0 865.4
Aggregate resources
9,896.6 12,553.7 22,450.3 21,095.0
Capital
890.4
1,880.0
1,800.0
989.6
Surplus and undivided profits
1,091.2
1,952.6
1,834.6
861.4
Deposits (individual)
5,287.2
9,996.2 15,283.4 14,035.5
o Includes $44,679,962 of national bank notes.
$1,148.6
109.0
6 28.2
1,355.3
80.0
118.0
1,247.9
& Decrease.
STATE, SAVINGS, PRIVATE BANKS, AND LOAN AND TRUST COMPANIES.
Summaries of the reports received for the current year from state,
savings, private banks, and loan and trust companies show the condition on June 30, 1910, of 15,950 banks other than national. The
aggregate resources of the banks were $12,553,695,826.04, anincrease
65872°—FI 1910
25
386
REPORT ON T H E FINANCES.
of $827,525,248.45 over the aggregate reported in 1909 by 15,598
banks. The returns include 12,166 commercial banks, 1,759 savings
banks (of which 638 were of t h e mutual class; that is, witho'ut
capital stock), 934 private banks, and 1,091 loan and trust companies. About 600 state and private banks, located chiefly in the
Southern and Middle Western States, which furnished reports as of
April 28, 1909, did not submit reports for the current year.
The capital of the state (commercial) banks as reported aggregates
$435,822,833.58; individual deposits, $2,727,926,986.03, and aggregate resources, $3,694,958,766.81. In 1909 the aggregate resources
of this class of banks were $3,338,669,134.19, thus showing anincrease
of $356,289;632.62 over the amount reported in 1909. Savings banks
reported to the number of 1,759, showing deposits aggregating
$4,070,486,246.70 and resources of $4,481,871,444.90. Compared
with 1909 the figures show an increase of $357,080,536.90 in deposits
and $409,161,339.56 in aggregate resources. Only about 17 per cent
of deposits in savings banks is held by stock savings banks.
Reports received from l,09l loan and trust companies show aggregate resources of $4,216,850,061.52 and individual deposits of $3,073,122,706.20 against 1,079 loan and trust companies with aggregate
resources of $4,068,534,982.65 and individual deposits of $2,835,835,180.79 in 1909, being an increase for the year of $148,315,078.87 in
resources and $237,287,525.41 in individual deposits.
Reports were obtained from onlv 934 private banks, with capital
of $18,899,561.74 and aggregate resources of $160,015,552.81. In
1909 reports were received from 1,497 private banks and bankers,
with capital of $27,726,922 and aggregate resources of $246,256,355.41.
About 300 private banks and bankers, located chiefly in the Middle
Western States, failed to comply with the comptroller's request for a
report.
In connection with the general statistics relating to the condition of
the banks, the following table showing tbe number of savings and
other depositors in the banks of the country is of interest:
N U M B E R OF SAVINGS AND O T H E R
Class of bank.
National banks
State banks
Mutual savings banks
Stock savings banks
Private banks
Loan ahd trust companies
Total
INDIVIDUAL DEPOSITORS IN REPORTING
J U N E 30, 1910.
Number
Savings
banks re- depositors.
porting.
6,012 2,087,583
9,839 2,816,561
638 7,481,649
1,121 a 1,661,259
91,844
679
905 2,260,268
19,194
Other depositors.
5,602,885
4,442,572
BANKS
Total depositors.
223,020
1,311,901
7,690,468
7,259,133
7,481,649
1,661,259
314,864
3,572,169
16, 399,164 11,580,378
27,979,542
a Includes 359,605 depositors other than savings.
The following is a summary of reports received from state banks,
savings banks, private banks, and loan and trust companies showing
their condition at the close of business on June 30, 1910:
R E S O U R C E S AND L I A B I L I T I E S OP STATE, SAVINGS, P R I V A T E B A N K S AND L O A N AND T R U S T COMPANIES, JITNE 30,
12,166 state
638 mutual
savings banks.
1,121 stock savings banks.
934 private
banks.
1910.
1,091 loan and
trust companies.
Total, 15.950
banks.
RESOURCES.
Loans and discounts
Bonds, securities, etc
Banking house
Furniture and fixtures
Other real estate owned
Due from banks
Checks and other cash items
Exchanges for clearing house
Cash on hand
All other resources
:
Total resources
$2,406,466,674. 48 $1,727,170,989.56
303,624, 801. 49 1,676,149,419.80
33,769,643. 95
75,525, 114. 59
677,912.04
17,915, 015. 31
. 8,755,938.34
37,404, 253.01
134,236,319.96
485,361,856.14
1,297,587.56
93,739, 691.16
661,817.77
11,448,043. 82
24,463,401.28
240,580,836.12
45,266,168.14
22,892,480.69
3,694,958,766.81
3,652,449,198.40
$567,246,437. 23
120,962,406.25
25,020,422.88
1,656,070. 47
4,075,104.09
80,090,801. 96
1,191,174. 88
2,246,621. 28
26,416, 938. 95
510,268. 51
$108,449,464.30 $2,256,572,910. 64 $7,065, 906,476.21
3,111,409,758. 78
10,409,581.40 1,000,263,549.84
210, 562,359.87
2,530,868.01
73,716,310.44
27, 142,804.83
5,672,609.21
1,221,197.80
100,063,135. 64
46,097,405.40
3,730,434.80
24,069,188.01
467,643,271. 31 1,191,401,437.38
109, 630,997.29
519,052.27
12,883,491. 42
28 032,953.29
185,571.28
13,490,899.14
558,355,958.16
6,764,890.90
260,129,890.91
151, 189,944.59
723.21
2,135,304. 04
80,379,
829,422,246.50
160,015,552.81
4,216,850; 061. 52
2,182,307.23
367,333, 556. 37
18,899,561.74
432,718, 233.98
6,541,431.06
65,448, 601. 52
3,160,559. 55
2,842, 956.53
- 62,448. 49
1,744, 143.16
5,326.97
187,141, 876. 31
1,644,318.25
124,644,003.22 3,073,122, 706. 20
11,842, 447.94
1,722,194.14
1,113, 151. 95
336,450.93
73,542, 387. 56
2,999,258.46
890,376,773.99
903,059,698.26
188,102,881. 80
5,711,840.68
3,033,235.37
325,245,173.61
9,996,179,942.15
70,643,832.11
13,098,978.32
158,243,469.75
3,652,449,198. 40
829,422,246. 50
160,015,552.81
w
o
12,553,695,826.04
68,320, 822.30
27,020, 210. 24
13,732, 185. 38
364, 639. 25
143, 006. 32
6,649, 276. 52
709,922, 403. 91
2,064, 395. 58
251, 960. 70
953 346.30.
O
O
LIABILITIES.
Capital stock paid in
Surplus fund
Undivided profits less expenses
Dividends unpaid
Reserved for taxes
'
Due to b a n k s . . Deposits (individual)
Bills payable
•.
Notes and bills rediscounted
All other liabilities
Total liabilities
435, 822, 833. 58
187, 571, 005. 45
05, 678, 941. 67
2, 441, 796. 41
935, 198. 79
129, 768, 527.09
2,727, 926, 986. 03
54, 849, 892.85
11. 397, 414. 74
78, 566, 170. 20
3,694,958,766.81
249,208,817.53
40,082,593.68
205,560.13
41,175. 44
3,360,563,842.79
164,901.60
4,216,850,061.52
o
d
12,553,695,826.04
a
CO
00
-:i
388
REPORT ON T H E FINANCES.
For tne purpose of comparison, a table exhibiting the principal
items of resources -and liabilities of banks other than national in the
years 1900, 1907, 1908, 1909, and 1910 is submitted herewith:
CONSOLIDATED R E T U R N S FROM STATE, SAVINGS, PRIVATE B A N K S , AND LOAN AND
. X
T R U S T COMPANIES.
Items.
1900.
Loans
.\
Bonds
Cash
Capital
Surplus . and undivided profits...
Deposits (individual)
Resources
$3,013,449,827
1,723,830,351
220,667,109
403,192,214
1907.
1908.
1909.
$6,099,897,535 $5,797,611,743 $6,385,522,766.61 $7,065,906,476.21
2,931,506,252
2,873,226,958 3,009,480,709.72 3,111,409,758.78
391,847,497
479,116,289
525,237,773.25
558,355,958.16
807,178,262
838,058,353
866,056,465.00
890,376,773.99
490,654,957
924,655,010
4,780,893,692
5,841,658,820
8,776,755,207
11,168,514,516
1,012,811,484
1,039,548,321.54
1,091,162,571.06
1,409,959,961 9,209,462,780.66 9,990,179,942.15
10,869,345,993 11,726,170,577.59 12,553,695,826.04
The foregoing^ statistics indicate that aggregate resources have more
than doubled since 1900, the increase since that date amounting to
$6,712,037,006.04. For the current year the increase in resources
amounts to $827,525,248.45. During the decade ended June 30,
1910, capital stock of banks other than national increased by nearly
121 per cent, and surplus and profits appear to have increased in about
the same ratio. Loans increased by 134 per cent, bonds by 80 per
cent, individual deposits by 109 per cent, and aggregate resources by
1.15 per cent. The most notable increase is in cash holdings, the
amount in banks of this class in 1910 being 153 per cent greater than
was reported in 1900.
Combining the returns from national banks as of June 30, 1910,
with those obtained from other banks of the same date makes a total
of 23,095 reporting banks, with aggregate capital of $1,879,943,887.99
and aggregate resources of $22,450,320,522.77.
S U M M A R Y O F R E P O R T S F R O M N A T I O N A L , S T A T E , E T C . B A N K S , A S O F J U N E 30,
1910.
[Expressed in millions.]
Classification.
Loans
United States bonds
All other bonds and securities
Cash (including national-bank notes, etc.)
Capital
Surplus and undivided profits
Deposits (individual)
. Aggregate resources
7 145
national
banks.
$5,455.9
737.6
a 874.4
865.4
989.6
861.4
5,287.2
9,896.6
15,950
state, etc.,
banks.
$7,065.9
35.8
3,075.6
558.4
890.4
1,091.2
9,996.2
12,553.7
Total,
23,095
banks.
$12,521.8
773.4
3,950.0
1,423.8
1,880.0
1,952.6
15,283.4
22,450.3
a Includes premiums on United States bonds.
The increases in the principal items of resources and liabilities of all
reporting banks over the amounts shown in 1909 are, in round
amounts, as follows: Resources, $1,355,300,000; individual deposits,
$1,247,900,000; surplus and undivided profits, $118,000,00.0; capital,
$80,000,000; bonds and securities, $109,000,000; loans, $1,148,600,000.
Cash on hand shows a decrease of $28,200,000 from the amount
reported in 1909.
COMPTROLLER OF T H E CURRENCY.
389
STATE BANKS.
Reports from state banks to the number of 12,166, show capital of $435,822,833.58 and aggregate resources of $3,694,958,766.81.
Geographically the reporting state banks are located as follows:
Nineteen in the New England States, 476 in the Eastern States, 3,328
in the Southern States, 3,924 in the Middle Western States, 3,433 in
the Western States, 958 in the Pacific States, and 28 in the island
possessions.
The returns from Maryland, Arkansas, and South Dakota include
stock savings banks, those from California include 147 departmental
and 36 branch banks, while private banks are included with the
returns from South Dakota and Hawaii.
A summary of the r'eports submitted shows loans amounting to
$2,406,466,674.48; investments in bonds and other securities, $303,624,801.49; cash on hanci, $240,580,836.12'; capital, $435,822,833.58;
and surplus and undivided profits, $253,249,947.12. Comparing
the figures for 1909 with those for. 1910 there has been an increase of
$356,289,632.62 in the aggregate resources, $19,762,933.58 in capital,
and $260,968,320.27 in deposits. ,
Missouri has the largest number of state (commercial) banks, namely,
1,038, followed by Kansas, with 827; Oklahoma, 680; Nebraska, 648;
and Minnesota, 632. New York has the largest amount of capital
invested in this class of banks, namely, $34,148,000, California being
second, with $32,426,762.83; Missouri third, with $29,334,010; and
Illinois fourth, with $22,638,300. New York state banks have also
the largest volume of aggregate resources, namely, $617,416,371,
those of Missouri being second, with $237,445,750.15; Michigan
third, with $234,872,109.07; and Pennsylvania fourth, with $198,734,501.55.
SAVINGS BANKS OF THE UNITED STATES.
Special interest attaches to the reports of operation and condition
of savings banks, their deposits being chiefly the accumulations of
wage-earners. The present year's reports from these institutions
indicate material increases in savings deposits in the aggregate and
in the average account.
Savings-bank reports to the number of 1,759 have been received,
of which 638 are from mutual institutions and 1,121 from stock
savings banks, the latter being operated for the benefit of both the
shareholder and depositor. The principal items of resources and
liabilities of savings banks, both mutual and stock, are as follows:
Loans
Bonds, etc
Deposits
Aggregate resources
$2, 294,417, 426. 79
1, 797, 111, 826. 05
4,070,486, 246. 70
: . 4, 481, 871,444. 90
MUTUAL SAVINGS BANKS.
All of the mutual savings banks, with the exception of 21, are
located in the New England and Eastern States. The exceptions are
as follows: One in West Virginia, 3 in Ohio, 5 in Indiana, 3 in Wisconsin, 8 in Minnesota, and 1 in California. The total resources
of mutual savings banks on June 30, 1910, was $3,652,449,198.40.
On April 28, 1909, the resources of these institutions aggregated
890
REPORT ON THE FINANCES.
$3,394,926,005.39, the gam since that date being $257,523,193.01.
During the year deposits have increased from $3,144,584,874.66 to
$3,360,563,842.79, or an increase of $215,978,968.13: The loans and
mortgages in 1909 aggregated $1,590,270,437.31, while on June 30,
1910, the loans, including mortgages, aggregated $1,727,170,989.56,
the increase being $136,900,552.25. The loans as reported are classified as follows:
On demand, unsecured by collateral
On demand, secured by collateral
On time, with two or more names, unsecured by collateral
On time, single-name paper, unsecured by collateral
On time, secured by collateral
Secured by real estate mortgages, etc., or otlier liens on realty
Mortgages owned
.^
•.
Not classified.
Overdrafts, secured
Overdrafts, unsecured.
$9, 761, 253.11
36,182,096. 37
47, 872, 737.31
3,336, 559. 55
97,344,141. 23
550,935,126. 64
976,042,325.30
5, 688, 687.07
6,494. 04
1,568. 94
Total
1, 727,170, 989. 56
The investments by mutual savings banks in bonds and other
securities in 1909 aggregated. $1,599,532,371.94. Investments of this
character in 1910 were $1,676,149,419.80, scheduled as follows:
United States bonds
State, county, and municipal bonds
Railroad bonds
Other stocks and bonds, including railroad and bank stocks
Total.......:
'
$23; 538,195. 00
714, 821,480.08
757,494, 315. 53.
180, 295, 429.19
1, 676,149,419. 80
Cash in the 638 reporting mutual savings banks on June 30, 1910,
amountedoto $24,463,401.28, against $14,630,248.47 in 1909, a gain
of $9,833,152.81. Of the $3,360,000,000 deposits in mutual savings
banks approximatiely $1,527,000,000 are in banks located in the
State of New York and over $761,000,000, or about 23 per cent of such
deposits, are in Massachusetts savings banks. Depositors in the
mutual savings banks number 7,481,649, divided geographically as
follows: 3,331,135in the NewEngland States, 3,832,438 in the Eastern States, 5,630 in the Southern States (West Virginia, only),
232,864 in the Middle Western States, and 79,582 in the Pacific
States (California only). There are 2,886,910 depositors in mutual
savings banks of New York State, and 2,078,953 in Massachusetts
savings banks. The next largest number of savings depositors is
570,065 in Connecticut.
The average rate of interest paid to depositors in mutual savings
banks is 3.92 per cent. The average rate in the New England
States is 3.85 per cent, in the Eastern States 3.69 per cent, in the
Southern States 4.50 per cent, in the Middle Western States 3.82 per
cent, and in the Pacific States 3.75 per cent. The highest, rate of
interest, 4.50 per cent, is paid by the one mutual savings bank in
West Virginia. An average of 4 per cent is paid by the mutual savings banks in Delaware and Wisconsin. The lowest average paid by
mutual savings banks is in Pennsylvania, namely, 3.47 per cent.
STOCK SAVINGS BANKS.
Stock savings banks to the number of 1,121 furnished reports as of
June 30, 1910. These institutions are located'as follows: Eight in
COMPTROLLER OP THE CURRENCY.
391
New Hampshire known as guaranty savings banks, 15 in the Eastern
States, 149 in the Southern States, 734 in the Middle Westem States,
59 in the Western States, and 156 in the Pacific States. Reports
from Maryland and South Dakota stock savings banks have oeen
included, as officially compiled, with commercial state banks; the few
reporting stock savings banks of Arkansas appearing to be commercial concerns have been included with commercial banks of that
State. Of the total number of stock savings banks reporting, 663 are
located in the State of Iowa. Stock savings bank capital is'reported
at $68,320,822.30, agamst $59,506,420 in 1909. The loans aggregate
$567,246,437.23; investm.ents in bonds, securities, etc., $120,962,406.25; cash in bank $26,416,938.95; and aggregate resources,
$829,422,246.50. All of these items show substantial increases over
the amounts reported for 1909. Individual deposits reported at
$568,820,835.14 in 1909 have increased to $709,922,403.91 for 1910,
and resources from $677,784,099.95 to $829,422,246.50—gams of
$141,101,568.77 and $151,638,146.55, respectively.
Depositors in the stock savings banks actual and estimated, as of.
June 30, 1910, numbered 1,661,259, located as follows: 16,818 in the
New England States, 93,024 in the Eastern States, 275,275 in the
Southern States, 793,970 in the Middle Western States, 62,965 m
the Western States, and 419,207 in the Pacific States. Iowa and
California lead in tlie number of depositors in stock savings banks,
namely, 428,777 in the former and 340,590 in the latter State. Ohio
is third in number of depositors in this class of institutions, with
228,631, and Michigan fourth with 104,431.
A large number of banks throughout the country which transact
a strictly commercial banking business have the word ^'savings''
incorporated in their title. Care has been taken to exclude the
reports of such banks from this compilation.
The average rate of interest paid to depositors in stock savings banks
is 3.56 per cent. Geographically stated, 3.44 per cent is the average
rate paid by such institutions in the New England States, 3.21 per
cent in the Eastern States, 3.76 per cent.in the Southern States,
3.40 per cent in the Middle Western States, 3.65 per cent in the
Western States, and 3.91 per cent in the Pacific States. The highest
average rate is 4.50 per cent paid by the stock savings banks of New
Mexico, and the lowest rate, 2.93 per cent, is paid by the stock savings
banks in the District of Columbia.
ALL SAVINGS BANKS.
The number of depositors in all savings banks reporting has
increased since 1900 from 6,107,083 t() 9,142,908. The average
account for the period mentioned has increased from $401.10 to
$445.20. For the current year the number of depositors has increased
over the number reportecl in 1909 by 311,045 and the deposits by
$357,080,536. The average deposit account has increased from$420.45
to $445.20, a gain of $24.75. The average deposit account in savings
banks of the New England States remains practically the same as
in 1909, being $396 against $395.97 in 1909. The average account
in the Eastern States has increased from $463.99 in 1909 to $488.96
in 1910. In the Southern States the average account has increased
from $236.14 to $250.15; in the Middle Western States from $339.86
392
REPOiRa? ON T H E FINANCES.
to $366.41. In the Western States the average savings account in
1909 was $240.19. For the present' year it is shown to be only
$206.08. This is due to lack of reports from a number of savings
banks in that section. The average savings account in the Pacific
States has increased from $561.63 to $733.46, by. reason of the fact
that a greater number of reports were received than in 1909. Over 79
per cent of depositors in savings banks are reported by banks in the
New England and Eastern States, there being 3,347,953 savings-bank
depositors in the New England States, and 3,925,462 in the Eastern
States. Next in order are the Middle Western States with 1,026,834, Pacific States with 498,789, Southern States with 280,905, and
Western States with 62,965. There are2,886,910 savings-bank depositors in N e w Y o r k and 2,078,953 in Massachusetts; tlie State having the next largest number of savings-bank depositors is Connecticut
with 570,065, Iowa following with 428,777.
N U M B E R OF SAVINGS DEPOSITORS, AGGREGATE SAVINGS DEPOSITS, AND AVERAGE
AMOUNT D U E TO DEPOSITORS IN SAVINGS B A N K S , IN EACH STATE IN 1909 AND
1910.
1910 (1,759 banks).
1909 (1,703 banks).
states, etc.
Maine
New Hampshire..
Vermont
Massacliusetts
Rhodelsland
ConniBcticut
New England States
NewYork
NewJersey
Pennsylvania
Delaware
Maryland
District of Columbia
:
Eastern
States
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Arkansas
Kentucky
Tennessee
Southern
States
Num- Number
berof
of debanks. positors.o
52 226,861
6 55 178,440
C2I
104,620
189 2,002,010
18 130,231
88 544,664
Amountof
deposits.
Average to Num- Number
each ber 6f
of dedeposi- banks. positors.
tor.
$87,677,255.88 $386.48
79,599,246.66 446.08
39,442,734.05 377. 00
728,224,477.34 363. 74
69,308,515.75 532.19.
257,696,998.27 473.13
52 237,813
55 184,826
21 108,298
190 2,078,953
18 167,998
87 570,065
Amount of
deposits.
Average to
each
depositor.
$89,938,240.81 $378.19
84,836,589.24 459. 51
43,132,268.04 398. 27
761,365,758.32 366. 23
72,334,582.84 430. 57
274,161,705.94 480. 93
423 3,186,826 1,261,949,227.95 395. 97
423 3,347,953 1,325,769,145.19
396.00
137 2,760,343 1,405,799,067.62
28 297,926
98,549,807.29
166,095,385.22
11 452,487
25,380
9,139,659.77
2
89,961,898.33
48 247,445
509.28
330. 78
367. 07
360.11
363. 56
528.92
345.13
441.72
377.34
367.12
«12
11,101,116.83
205.31
142 2,886,910 1,526,935,581.84
106,762,662. 84
26 309,338
398,885
176,194,529.61
II
25,524
9,631,121.00
2
243,395
89,354,005.00
d22
61,410
14
10,515,201.51
238 3,837,650 1,780,646,935.06
463.99
217 3,925,462 1,919,393,101.80
488.96
54,069
22
II
24
28
18
4
10
12
9
6
II
27
33,349
42,189
44,783
30,476
35,163
6,295
13,320
,7,640
60,887
5,213
17,314
48,003
9,583,957.91
8,195,002.70
7,349,823.24
9,550,910.23
7,832,232.40
1,168,190.44
2,019,712.74
2,047,270.65
16,429,181.63
1,157,131.76
1,996,554.63
14,039,136.40
287.38
194. 24
164.12
313.39
222. 74
185. 67
151.63
267.96
269. 83
221. 97
115. 31
292. 46
182
344,632
81,369,104.73
236.14
171.23
24
8
24
25
16
5
5
12
8
32,217
24,129
33,983
32,380
30,984
8,109
8,977
8,558
49,881
8,179,974.45 253.90
4,125,519.47 170.98
7,233,261.86 212.85
9,808,101.98 302.91
7,929,255.79 255. 91
1,294,086.76 159. 59
526,451.61
58.64
1,751,262.62 204. 63
16,888,080.71 338.59
10
13
15,079
36,608
2,286,615.78
10,244,449.37
151.64
279.84
150
280,905
70,267,060.40
250.15
(/)
a Depositors In the following number of banks for the States named have been estimated; Maine I. New
Hampshire 4, Massachusetts 2, Connecticut 3, New Jersey I, Maryland 4, Virginia 2, West Virginia I, North
Cairollna 3, South Carolina 6, Georgia 2, Alabama 3, Louisiana I, Arkansas 2, Kentucky 2, Tennessee 6, Ohio
3, Michigan I, Iowa 98, South Dakota 2, Kansas I, Wyoming I> Colorado-2, Washington 3, California 9.
b Deposits In savings departments of 0 state banks with 13,888 depositors not Included.
e Exclusive of trust companies reporting 59,815 depositors.
d Mutua 1 savings banks only.
e Exclusive of I bank not reporting on June 30.
/ Included with state banks.
393
COMPTROLLEE OF T H E CURRENCY.
N U M B E R OF SAVINGS DEPOSITORS, AGGREGATE SAVINGS DEPOSITS, AND A V E R A G E
. AMOUNT D U E TO DEPOSITORS IN SAVINGS B A N K S , IN E A C H STATE IN 1909 AND
1910—Continued.
19.10 (1,759 b a n k s ) .
1909 (1,703 b a n k s ) .
States, etc.
Num- Number
cOf deber of
b a n k s . positors
Average t o N u m - N u m b e r
each
berof
ofde- .
deposi- b a n k s . positors.
tor;
A m o u n t of
deposits.
$103,966,942.82 $323.07
• 10,917,991.10 340. 77
31,292,353. 48 411.04
1,146.807.12 183. 51
22,503,156. 93 243.16
136,958,093.18 366. 29
44
5
ol5
3
11
572
Ohio
Indiana
Michigan.
Wisconsin
Minnesota...
Iowa
Middle Western States.
South DakotaNebraska
Kansas
Montana..
Wyoming .
Colorado
NewMexicOo
Oklahoma
Western
States
321,809
32,039
76,129
6,249
92,544
373,906
650
902,676
306,785,344.63
339. 86
]2
11
14
3
1
10
4
7,737
16,846
20,080
4,067
700
17,304
1,575
1,750,544. 38
• 3,261,165.28
3,552,705. 43
3,368,991.30
222,113. 00
3,895.021.08
409,512. 54
226. 25
193. 58
176. 92
828. 37
317. 30
225.09
260. 00
46
5
a 18
12
9
663
337,786
31,995
104,431
25,507
98,338
428,777
A m o u n t of
deposits.
$126,710,271.18 $375.12
11,836,495.67 369.95
38,841,391.70 371.93
6,080,507.08 238. 39
24,491,871.02 249.06
168,279,873.49 392. 46
753 1,026,834
%
13
3
3
9
11
3
Average t o
each
deposi
• tor.
376.240,410.14
366. 41
10,417
18,294
5,990
1,137
21,729
2,691
2,707
1,527,538.14
3,507,501.05
2,927,872.06
549,803. 52
3,315,861.14
693,274. 70
453,813. 42
146.64
191. 73
488. 79
483.56
152.60
257. 63
167.64
55
68,309
16,460,053.01
240.96
59
62,965
12,975,664.03
206.08
11
6
131
4
3
14,685
3,339
443,334
1,217
29,195
4,507,943.37
1,890,229. 02
250,915,736.56
336,486:21
8,544,649,26
306.97
566.10
565. 97
276. 48
292. 67
12
12
123
4
4
1
1
32,421
11,273
420,172
1,748
31,449
1,074
652
9,496,385. 42
10,951,201.84
334,965,870.34
259,026. 43
9,026,870.53
745,441. 54
396,069.04
292.91
971.45
797.21
148.18
287.03
694.08
607.47
155
491,770
266,195,044.42
561.63
157
498,789
365,840,865.14
733.46
Total U n i t e d
1,703 8,831,863 3,713,405,709.80
States
420.45
1,759 9,142,908 4,070,486,246.70
445.20
Washington
Oregon .
California
Idaho
Utah
Nevada
Arizona
. . .
!
Pacific States
a Does not include commercial banks having the word "savings' in their title.
b Included with State banks.
The growth of savings banks in the United States from 1820 to
1910, as evidenced by the amount of deposits, number of depositors,
average deposit account, and the average per capita in census years,
from 1820 to 1890 and annually thereafter, is shown in the following
table:
N U M B E R OF SAVINGS B A N K S I N THE U N I T E D STATES, N U M B E R OF DEPOSITORS,
AMOUNT OF SAVINGS DEPOSITS, A V E R A G E AMOUNT DUE EACH DEPOSITOR I N THE
Y E A R S 1820, 1825, 1830, 1835, 1840, and 1845 TO 1910, AND A V E R A G E PER CAPITA
IN THE U N I T E D STATES IN THE Y E A R S G I V E N .
N u m b e r N u m b e r of
of b a n k s . depositors.
Year.
1820
1825
1830
1835
1840
1845
1846
1847
1848
1849
•.
.-.
.
..
10
15
36
52
61
70
74
76
83
90
8,635
16,931
. 38,035
60,058
78,701
145,206
158,709
187,739
199,764
217,318
Deposits.
$1,138,576
2,537,082
6,973,304
10,613,726
14,051,520
24,506,677
27,374,325
31,627,479
33,087,488
36,073,924
Average Average
d u e each per capita
inthe
deposUnited.
itor.
States.
$131.86
149.84
183.09
176.72
178.54
168.77
172.48
168.46
165.63
165.99
$0.12
.54
82
394
REPORT ON T H E FINANCES.
N U M B E R OF SAVINGS B A N K S IN THE U N I T E D STATES, N U M B E R OF DEPOSITORS,
AMOUNT OF SAVINGS DEPOSITS, A V E R A G E AMOUNT DUE EACH DEPOSITOR I N T H E
Y E A R S 1820, 1825, 1830, 1835, 1840, AND 1845 TO 1910, AND A V E R A G E PER CAPITA
IN THE U N I T E D STATES IN THE Y E A R S G I V E N — C o n t i n u e d .
N u m b e r N u m b e r of
of b a n k s . depositors.
Year.
1850
1851
1852
1853
1854
1855
1856
1857
1858
' ..
1859..
I860
..
1861
1862
1863
1864
1865
.
1866
1867
1868
1869. .•
1870
1871
1872
1873
1874 . .
..
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
.
1885
1886
1887
1888
1889
1890
1891
1892.
1893
1894
1895
1896
1897
.
1898
.•
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
'
1909
.
1910 o
. .
,
^
-
. .
.•
108
128
141
159
190
215
222
231
245
259'
278
285
289
293
305
317
336
371
406
476
517
577
647
.'
669
693
:
771
781
675
663
639
629
629
- 629
630
. . . . .
636
646
638
684
801
849
921
1,011
:
• 1,059
1,030
1,024
•
1,017
988
980
979
987
1,002
1,007
1,036
1,078
1,157
1,237
1,319
1,415
1,453
1,703
1,759
: ...
251,354
277,148
308,863
365,538
396,173
431,602
487,986
490,428
538,840
622,556
693,870
694,487
787,943
887,096
976,025
980,844
1,067,061
1,188,202
1,310,144
1,466,684
1,630,846
1,902,047
1,992,925
2,185,832
2,293,401
2,359,864
2,368,630
2,395,314
2,400,785
2,268,707
2,335,582
2,528,749
2,710,354
2,876,438
3,015,151
3,071,495
3,158,950
3,418,013
3,838,291
4,021,523
4,258,893
4,533,217
4,781,605
4,830,599
4,777,687
4,875,519
5,065,494
5,201,132
5,385,746
5,687,818
6,107,083
6,358,723
6,666,672
7,035,228
7,305,443
7,696,229
8,027,192
8,588,811
8,705,848
8,831,863
9,142,908
Deposits.
$43,431,130
50,457,913
59,467,453
72,313,696
77,823.906
84,290,076
95,598,230
98,512,968
108,438,287
128,657,901
149,277,504
146,729,882
.169,434,540
206,235,202
236,280,401
242,619,382
282,455,794'
327,009,452
392,781,813
457,675,050
• 549,874,358
650,745,442
735,046,805
802,363,609
864,556,902
924,037,304
941,350,255
866,218,306
879,897,425
802,490,298
819,106,973
891,961,142
966,797,081
1,024,856,787
1,073,294,955
1,095,172,147
1,141,530,578
1,235,247,371
1,364,196,550
1,425,230,349
1,524,844,506
1,623,079,749
1,712,769,026
1,785,150,957
1,747,961,280
1,810,597,023'
1,907,156,277
1,939,376,035
2,065,631,298
2,230,366,954
2,449,547,885
2,597,094,580
2,750,177,290
2,935,204,845
3,060,178,611
3,261,236,119
3,482,137,198
3,690,078,945
3,660,553,945
3,713,405,710
4,070,486,246
Average Average
d u e each per capita
inthe
deposUnited
itor.
States.
$172.78
182.00
192. 54
197.82
196.44
195.29
195.90
200.87
201.24
206. 66
215.13
211.27.
215.03
232.48
242.08
247.35
264. 70
283.63
299.80
312.04
337.17
342.13
368.82
367.07
376.98
391.56
397.42
361. 63
366. 50
353.72
350. 71
352.73
356.70
356.29
355.96
356.56
361.36
361.39
355.41
354.40
358.03
358.04
358.20
369.55
365.86
371.36
376. 50
372.88
. 383.54
392.13
401.10
408.30
412.53
417.21
418.89
423.74
433.79
429.64
420. 47
420.45
445.20
$1.87
4.75
14.26
16.33
q
24.35
25.29
26.11
26.63
25.53
25.88
28.68
26.56
27.67
29.24
31.78
33.45
34.89
36.52
37.52
39.17
41.13
42.87
41.84
41.75
45.05
a Population estimated at 90,363,000, June 30,1910.
In the figures for 1896 to 1908, inclusive, but not subsequently, are
the number of depositors and amount of deposits in the state banks
of Illinois, having savings departments, but not the number of such
banks, by reason of the fact that general reports from these institutions are incorporated in state bank returns.
COMPTROLLER OE T H E CURRENCY.
395
PRIVATE BANKS.
Owing,to the,fact that many private bankers neglected to furnish
a report, the returns from private banks of the country are not as
complete as desired. I t is estimated that there are over 4,000 private
banking concerns in the country.
Of the private banks, reports have been received from 934, as of
June 30, 1910. The capital of these reporting banks aggregates
$18,899,561.74, surplus and profits $9,701,990.61, individual deposits
$124,644,003.22, loans and ciiscounts $108,449,464.30, investments in
bonds, securities, etc., $10,409,581.40, cash on hand $6,764,890.90, and
aggregate resources of $160,015,552.81. On April 28, 1909, returns
were submitted from 1,497 private banks, with capital of $27,726,922
and aggregate resources of $246,256,355.41. There is a large number
of private banking concerns in the Middle Western States, many of
which failed to. comply with the request for a report, notably those in
the State of Illinois; 420 private banks of that State made reports as
of April 28, 1909, but for the current year only 200 such institutions
furnished statements.
LOAN AND TRUST COMPANIES.
Reports received from 1,091 loan and trust companies show aggregate resources of $4,216,850,061.52, against 1,079, with aggregate
resources of $4,068,534,982.65, which reported in 1909. Of the
institutions of this character, 505 with aggregate resources of $2,657,262,821.48 are in operation in the Eastern States, 242 with
aggregate resources of $877,839,921.16 in the Middle Western States,.
and 158 with aggregate resources of $532,567,450.20 in the New
England States. From the Southern States 129 loan and trust companies reported, with aggregate resources of $80,213,774.49, from the
Western States 32 with aggregate resources of $33,325,798.54, and
from the Pacific States 25 with aggregate resources of $35,640,295.65.
Pennsylvania appears to have the largest number of loan and trust
companies, 304 such institutions, with aggregate resources, of
$716,469,325.97, being in operation in that State; included with
these figures, however, are reports of 54 Pennsylvania trust companies as of November 6, 1909, later reports from which were not
obtainable. The loans and discounts of the reporting loan and
trust companies aggregate $2,256,572,910.64; investments in bonds,
securities, etc., $1,000,263,549.84; cash on hand, $260,129,890,91;
capital, $367,333,556.37; surplus and profits, $498,166,835.50; and
individual deposits, $3,073,122,706.20. Comparing these statistics
with those submitted for 1909, loans show an increase of $191,906,406.50; investments in bonds, securities, etc., $10,074,239.60; cash
on hand, $5,681,980.75; capital, $4,570,333.37; surplus and profits,
$4,784,642.38;°and individual deposits, $237,287,525.41. In 1900
reporting loan and trust companies held 14.2 per cent of the individual deposits of all banks; in 1907, 15.7 per cent; in 1908, 14.6 per
cent; in 1909, 20.2 per cent; and in 1910, 20.1 per cent.
396
REPORT GIST T H E FINANCES.
BANKS AND BANKING IN THE DISTRICT OF COLUMBIA.
In the District of Columbia there are 51 financial institutions, including 12 national banks, 5 trust companies, 15 state banks stated
to be operated as saving banks, and 19 building and loan associations.
The aggregate capital of the banks and trust companies on June 30,
1910, was $15,661,420; the individual deposits $72,575,118, including
$13,214,546 share capital or deposits in building and loan associations.
The number, capital, individual deposits, and aggregate amount of
resources of each class of financial institutions doing business in the
District of Columbia on June 30, 1910, are shown in the following
table:
Glass.
Number.
National banks
Trust companies
Savings banks
Building and loan associations
Capital.
Individual Aggregate
deposits. resources.
$6,052,000 $23,126,085
8,000,000 24,358,631
1,609,420 11,875,856
|ol3,214,546
15,661,420
Total
$49,165,920
37,457,540
14,528,395
15,250,731
116,402,586
72,575,118
a Share payments.
STATE AND PRIVATE BANK FAILURES.
To the statistics heretofore presented in the Comptroller's reports
relating to the failures of state and private banks are added those for
the year ended June 30, 1910, as reported by the Bradstreet Commercial Agency.
The number of failures of banks of this character during the current
year was 28, the total assets amounting to $14,496,610 a n d t h e
liabilities to $18,182,592. Included in the list are 9 state banks with
assets of $8,170,494 and habilities of $9,111,326; 1 savings bank, with
assets of $52,000 and liabilities of $63,000; 6 trust companies, with
assets of $3,072,000 and habilities of $2,216,000; 12 private banks,
with assets of $3,202,116 and habilities of $6,792,266.
Adding the failures of the current year to those reported for the
period running from 1864 to 1909', a total of 2,042 failures is shown,
the aggregate assets at date of failure being $526,291,242.58.and the
habilities $625,952,597.27.
Subsequent to 1896 statistics are wanting relating to the settlement
of the affairs of failed state and private banks, making it impossible to
state the amount and rate per cent of dividends paid to creditors.
From 1864 to 1896 the dividends averaged approximately 45 per
cent of the claims as represented by the reported liabilities.
Information obtained relating to the failures of state and private
banks, from 1864 to June 30, 1910, are shown in the accompanying
table:
COMPTEOLLEE. OF T H E CtrREENCY.
397
N U M B E R OP F A I L U R E S , CAPITAL, ASSETS, LIABILITIES, AND DIVIDENDS P A I D BY
STATE AND PRIVATE B A N K S THAT F A I L E D IN EACH Y E A R PROM 1864 TO
1910.
Nuinber
of
failures.
Year.
2
5
5
3
7
6
1
7
10
33
40
14
37
63
70
20
10
9
19
27
54
32
13
19
17
15
30
44
27
261
71
115
- 78
Total
Not dated
• Total
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1864. .
1865
1866.
1867
1868..
1869
1870
1871
1872...
1873
1874...
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884...:
1885
1886
1887. .
1888
1889...
1890
1891
1892
1893...
1894
1895
1896..
'
Capital.
Nominal
assets.
Liabilities.
Dividends
paid.
:
:
. .
:.....
Grand total
220,000.00
470,000.00
907,000.00
770,000.00
2,413,900.00
961,000.00
2,491,250.00
3,250.193.00
1,370;465.00
452,200.00
436,750.00
545,000.00
870,000.00
1,718.596.00
1,099,400.00
254,000.00
931„590.00
745,500.00
363,250.00
2,169,568.00
2,071,300.00
578,840.00
16,641,637.00
3,112,447.00
3,906,350.00
3,400,642.00
$225,662.14
890,112.00
138,821.00
148,886.00
361,961.73
50,000.00
2,314,871.90
2,654,187.15
2,126,124.18
3,059,318.06
4,644,889.91 • 6,938,653.01
4,125,731.00
4,562,879.00
9,190,283.98
12,365,475.25
7,312,218.73
9,206,429.34
13,137,835.47
15,223,785.49
26,001,949.67
27,269,520.51
5,102,691.94
5,253,307.22
• 1.629,146.61
1,311,799.49
'585,653.06
1,785,890.45
2,765,951.10
2,608,489.57
2,813,915.19
3,193,747.39
12,900,819.05
15,508,389.70
2,982,879.51
4,883,454.27
1,300,536.30
1,140,824.48
2,865,300.30
3,074,622.29
2,805,326.52
3,342,336.52
1,279,900.68
2,147,059.18
10.692,385.98
11,385,584.64
7,190,824.69
6,365,198.77
2,719,410.75
3,227,608-. 56
54,828.690. 65
46,766,818.80
7,958; 284.18
7,218,319.51
11,276,529.99
9,010,584.93
10,240,244.97
7,513,837.41
974,256.96
1,906,573.00
3,420,016.33
2,022,498.51
4,143,941.97
5,178,020.98
7,004,558.27
19,485,717.87
4,235,808.85
288,494.74
851,755.00
1,221,737.29
1,408,047.90
9,671,860.25
2,361,320.01
673,579.10
1,610,527.45
1,924,773.68
1,026,682.73
3,884,577.99
3,090,597.48
803,860.76
17,912,270.45
1,456,522.87
2,251,708..93
534,363.30
1,164
70
•
$125,000.00
275,000.00
260,000.00
276,381.00
100,000.00
•
53,187,259.00
445,000.00
212,725,771.58
1,586,419.00
218,833,563.86
1,796,424.41
99,711,330.75
377,396.20
1,234
122
53
26
32
56
43
26
102
57
37
34
132
60
28
53,632,259.00
214,312,190.58
17,929,163.00
4,493,577.00
7,790,244.00
7,675,792.00
6,373,372.00
7,323,737.00
2,166,852.00
24,296,823.00
6,970,345.00
6,591,515.00
13,037,497.00
177,073,348.00
15,760,177.00
14,496,610.00
220,629,988.27'
24,090,879.00
7,080,190.00
10,448,159.00
11,421,028.00
13,334,629.00
10,332,666.00
4,005,643.00
31,774,895.00
10,273,023.00
7,187,858.00
22,165,448.00
209,835,443.00
25,190,156.00
18,182,592.00
•100,088,726.95
2,042
53,632,259.00
526,291,242.58
625,952,597.27
100,088,726.95
$245,401.97
1,206,035.00
222,075.00
183,002.30
77,861.00
$145,592.25
138,821.00
82,844.74
398
REPORT ON T H E
FINANCES.
In the accompanying table is shown the number of failures, with
the amount of assets and liabilities of state and private banks that
failed in each year from 1892 to 1910, inclusive:
N U M B E R , A S S E T S , AND LIABILITIES OF STATE B A N K S , SAVINGS B A N K S , L O A N AND
T R U S T COMPANIES, AND PRIVATE B A N K S WHICH F A I L E D , BY Y E A R S , FROM J U N E
30, 1892, TO J U N E 30, 1910, INCLUSIVE.
[In the amounts hundreds omitted.)
s t a t e institutions.
Year.
' Savings b a n k s .
State banks.
1892
1893
1894
1895
1896 .
1897
•
1898.
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908.'
1909
1910
Liabilities.
No.
$3,178
36,903
2,010
3,445
4,.628
8,083
988
1,240
442
1,440
2,056
965
6,725
2,282
1,006
4,833
43,227
3,286
9,111
6
47
9
8
9
19
4
4
3
3
10
1
7
4
5
$484
17,674
2,646
4,653
662
3,998
800
1,153
328
450
4,622
35
1;457
550
360
12
2
1
7,760
85
52
135,848
Assets.
No.
154
47,769
24
$1,892
172 , 41,282
1,774
27
46
2,555
3,741
55
44
6,080
14
694
5
919
418
9
1,003
8
1,364
12
645
6
5,194
37
1,397
16
710
15
2,380
10
41,035
42
2,732
19
8,170
9
Total
570
123,985
Assets.
Loan and trust companies.
Liabilities.
$917
16,831
2,678
4,818
902
5,455
956
1,632
410
531
5,730
235
1,704
811
490
N o . . Assets.
Liabilities.
7,581
105
3
$209
15,098
33,420
4,107
1,159
3,436
1,275
•5,067
5,243
995
12
371
13,128
2,525
4,636
4,850
110,047
5,342
3,072
$425
24,144
37,977
• 5,844
936
4,325
1,575
6,701
6,636
1,113
22
561
15,880
3,600
3,990
8,100
126,200
5,412
2,216
51,849
.
3
19
8
6
4
12
2
2
4
4
1
2
8
2
4
4
25
6
6
122
213,992
255,657
6
T o t a l , all b a n k s .
Private banks.
Year.
No.
1892
1893
1894
1895
1896
1897....
1898
1899.
1900
1901
1902
1903
1904
1905.:
1906
1907
1908
1909
1910
Assets.
V
. . .
.'
:
Total
:
36
176
21
25
42
47
33
15
16
41
20
17
50
35
13
20
53
33
12
$3,540
20,237
1,749
1,389
1,886
4,416
1,725
651
1,687
3,925
1,325
1,116
4,518
2,498
886
5,807
18,231
7,602
3,302
705
.
86.."^QO
Liabilities.
$6,505
19,315
2,236
1,805
2,708
6,228
3,561
874
3,933
10,251
2,525
2,245
7,466
3,580
1,702
'9,232
32,828
16,387.
6,792
140.173
No.
Assets.
69
$6,125
414
94,291
65
39,589
85
12,704
110
7,448
122
17,930
53
4,494
26
7,790
32
7,676
56
6,373
43
7,323
26
2,167
102
24,297
57
6,970
37
6,592
34
13,037
132
177,073
60 . 15,761
28
14,496
1.551
472,136
Liabilities.
$11,025
97,193
44,901
15,912
9,174
24,091
7,080
10,447
11,421
13,335
10,333
4,006
31,775
10,273
7,188
22,165
209,836
25,190
18,182
584,527
INDIVIDUAL DEPOSITS IN ALL BANKS.
Individual deposits in all reporting banks in 1900, in round amount,
aggregated $7,238,900,000. For the current year deposits aggregate
$15,283,300,000—an increase of $8,044,400,000, or over 111 per cent.
The increase for the current year over the amount reported in 1909
399
COMPTROLLER OF T H E CURRENCY.
is $1,247,800,000, or about 9 per cent. The following table shows the
amount and per cent of individual deposits held by the several classes
of banks in 1900, 1909, and 1910:
• 1910.
1909.
1900.
Classification.
Amount.
State banks
...;
Savings banks
Private banks
Loan and trust companies.
National banks
Total.
Per cent.
Percent.
Amount.
Amount. Per cent.
Millions.
$1,266.7
2,389.7
96.2
1,028.2
2,458.1
17.5
33.0
1.3
14.2
^ 34.0
Millions.
$2,466.9
3,713.4
193.3
2,835.9
. 4,826.0
17.6
26.4
1.4
20.2
•34.4
Millions.
$2,727.9
4,070.4
124.6
3,073.2
5,287.2
17.9
26.6
.8
20.1
34.6
7,238.9
100.0
14,035.5
100.0
15,283.3
100.0
:
From the foregoing it will be noted that the proportion of deposits
held by national banks is 34.6 per cent; by savings banks, 26.6 per
cent; by loan and trust companies, 20.1 per cent; by state banks,
17.9 per cent; and by private oanks less than 1 per cent. Compared
with 1900, national banks haVe slightly gained in relative percentage
of deposits. The proportion held by savings, banks has fallen from
33 per cent to 26.6 per cent during the same period. The proportion of deposits held by state banks has increased from 17.5 per
cent to 17.9 per cent, and loan and trust companies from 14.2 to 20.1
per cent.
The following table shows the distribution of deposits, by geographical sections, on April 28, 1909, and June 30, 1910, together
with the amount and per cent of increase:
Individual deposits.
Geographical division.
Per cent of
increase.
1909.
'
Millions.
$2,106.2
6,047.7
1,059.2
3,196. 2
700.2
897.1
"28.9
Millions.
$2,214.3
6,539.1
1,109.9
3,568.7
768.3
1,043.8
39.2
Millions.
$108.1
491. 4
50.7
372.5
68.1
146.7
10.3
4.88
7.51
. 46
10.40
.89
14.05
26.28
14,035.5
New England States... .
Eastern States
Southern States
... .
Middle Western states
Western States
Pacific States
Islands
1910.
15,283.3
1,247.8
8.16
Increase.
From the foregoing table it appears that during the year deposits
in the banks of the island possessions increased by 26.28 per cent.
The highest percentage of increase in the United States was in the
Pacific States, 14.05 per cent being added to the amount reported in
1909. The next highest increase in order is shown in the Middle
Western States, 10.40 per cent. The lowest rate of increase appears
to be in the Southern States, which is aqcounted for in a measure by
incomplete returns from a number of States in that section.
400
REPORT ON T H E FINANCES.
The following comparative statement shows the increase in population, individual deposits, and money in circulation for 1908, 1909,
and 1910:
Increase, 1909.
1908.
Increase, 1910.
1909.
1910.
Amount. Per cent.
Population
Deposits (individual)
Money in circulation
Millions.
87.4
$12,784.5
$3,038.0
Millions. MUlions.
88.9
L5
$14,035.5 $1,25L0
$3,106.2
$68.2
L72
9.78
2.24
Amount. Per cent.
Millions Millions.
90.3
1.4
$15,283.3 $1,247.8
$3,102.3
a $3.9
1.55
8.89
a. 13
a Decrease.
From the foregoing it appears that during the year ended June 30,
1910, while the population, as estimated, increased 1.55 per cent, the
volume of individual deposits increased by 8.89 per cent; but the
figures for money in circulation shows a decrease of 0.13 per cent.
CLASSIFICATION OF INDIVIDUAL DEPOSITS.
Information submitted by the banks on June 30, 1910, with respect
to deposits has been carefully compiled and the result shows that 42
er cent of the deposits in banks other than national are demand lia,ilities, while 90 per cent of the deposits in national banks are subject
to demand. Including nonclassified deposits with deposits subject
to check, it appears that 70 per cent of deposits in private banks are
subject to demand, about 70 per cent in loan and trust companies, 64
per cent in state banks, and about 26 per cent in stock savings banks.
The average of deposits subject to demand, in all banks is about 59
per cent. In the following table is shown the classification of deposits
in banks,other than national, in national banks, and in all banks on
June 30, 1910:
^
E
CLASSIFICATION OF DEPOSITS IN B A N K S OF THE U N I T E D S T A T E S .
Classification.
Individual deposits subject to check
Savings deposits
Demand certificates of deposit
Time deposits, including time certificates of
deposit
Certified checks
:..
Cashier's checks
Not classified
Total...;
15,950 state, etc.,
banks.
7,145 national
banks.
$3,587,756,107.81
4,866,842,682.11
222,873,884.21
$4,236,249,832.72
(a)
400,673,229.53
$7,824, 005,940.53
4,866, 842,682.11
623, 547,113.74
967,269,.301.61
69,157,286.19
33,861,652.04
248,419,028.18
433,599,542.20
145,580,519.98
71,113,187.77
1,400, 868,843.81
214, 737,806.17
104, 974,839.81
248, 419,028.18
9,996,179,942.15
I 5,287,216,312.20
Total, 23,095 banks.
15,283,396,254.35
o $580,889,677.65 savings deposits are included with individual deposits, demand or time certificatesof
deposits.
CLASSIFICATION OF LOANS AND DISCOUNTS.
Loans and discounts in the banks of the United States as shown
by reports of condition as of June 30, 1910, aggregate roundly
$12,521,000,000. Of this amount $5,455,000,000 are in national
banks and $7,066,000,000 in banks other than national. Loans in
401
COMPTROLLER OF T H E CURRENCY*
state banks aggregate $2,406,000,000; in loan and trust companies,
$2,257,000,000; in mutual savings banks, $1,727,000,000; in stock
savings banks, $567,000,000, and in private banks, $108,000,000.
About $6,812,000,000, or nearly 55 per cent of loans, are secured
by collateral. I n /the following table is shown a classification of the
loans and discounts in banks other than national, in national banks,
and in all banks:
CLASSIFICATION OF LOANS AND DISCOUNTS IN BANKS OF THE U N I T E D STATES.
15,950 state, etc.,
banks.
Classification.
On demand, unsecured by collateral
On demand, secured by collateral
"
On time, with two or more names unsecured
by collateral
On time, single name paper, unsecured by
collateral
On time, secured by collateral
Secured by real estate mortgages or other
liens on realty
Mortgages owned
Not classified
Overdrafts, secured
Overdrafts, unsecured
'
7,145 national
banks.
$271,173,210.37
951,525,393.17
Total, 23,095 banks.'
$797,696,845.87
1,891,441,452.17
1,011,524,205.37
1,811,766,428.20
2,823,290,633.57
528,331,894.92
1,113,714,020.91
1,041,178)830.00
1,569,510,724.92
1,340,756,611.78
1,355,677,043.52
456,566,216.99
18,476,957.57
18,160,921. 61
1,110,674,234.05
4,920,821,910.26
25,743,314.27
456,566,216.99
62,381,193:45
7,065,906,476.21
Total.
$526,623,635.50
939,916,059.00
5,455,902,501.02
12,521,808,977.23
INVESTMENTS IN BONDS, SECURITIES, ETC.
The special report from the banks obtained by the Comptroller in
April, 1909, contained among other interesting data, inforniation in
detail as to the character of investments in bonds, securities, etc.
The information for the current year in respect to such investments
is practically as comprehensive as that for the prior year.
i n 1909 the aggregate investments in bonds, stocks, and other
securities held by all reporting banks was $4,614,400,000. From
reports for June 30, 1910, it is shown that such investments had
increased to $4,723,400,000, or a gain of $109,000,000. The classification by amounts and percentages of investments held by the banks
in 1909 and 1910 is as follows:
1910.
1909.
Classification.
Amount.
Millions.
$792.8
1,091.5
1,560.0
466.5
379.7
280.2
United States bonds
.
State, county, and municipal bonds
Railroad bonds
.
Bonds of other public-service corporations '.
Other bonds
Stocks
.•
All other securities, warrants, judgments, claims, etc
Foreign securities:
Government bonds
Other securities
Premium on all bonds, stocks, etc
Total.
.
(°)
:..
-26
17.2
23.7
33.8
10.1
8.2
6.1
(a)
24.6
19.1
(a)
(a)
4,014. 4
. 100.0
a Included with bonds, etc.
.65872°—FI 1910-
Per cent.
.5
.4
Amount.
Per cent.
Millions.
$773.4
1,116.2
1,464.8
478.0
399.9
283.4
158.7
16.4
23.6
31.0
10.1
8.6
6.0
3.4
16.2 1
8.1 [
24.6
1
4,723.4
I.O
100 0
402
REPORT ON T H E FINANCES.
I n the following table is shown the amount of the various classes of
bonds, stocks, and other securities held by each class of banks on June
30, 1910.
CLASSIFICATION OF I N V E S T M E N T S I N B O N D S , E T C , H E L D B Y B A N K S OF T H E
S T A T E S O N J U N E 30,
1910.
UNITED
[Expressed in millions.]
Classification.
United States bonds
State, county, and municipal bonds
Railroad bonds
Bonds of other publicservice corporations....
Other bonds
Stocks
All other securities, e t c . . .
Foreign securities:
Government bonds...
. Other securities
Premium on all bonds,
stocks, etc
Total
Stock
Loan and Total
savings Private trust com- state, etc., Natiohal All banks
banks.
banks. banks. panies.
banks.
State
banks.
Mutual
savings
banks.
$2.1
$23.5
$8.5
$0.4
$1.3
$35.8
63.9
69.3
714.8
757.6
28.7
26.2
2.3
.6
144.5
312.5
954.2
1,166.1
& 162.0
298.7
l,im2
1,464.8
44.5
5L6
29.8
38.5
87.4
33.9
39.4
8.4
32.7
8.1
7.7
7.9
1.1
L6
2.8
1.4
159.3
136.5
166.1
72.8
325.0
231.7
245.8
128.9
163.0.
168.2
37.6
29.8
478.0
399.9
283.4
158.7
L3
L4
.4
.9
3.9
2.1
6.9
4.6
10.3
3.5
16.2
8.1
.2
.01
L2
9.9
.9
303.-6
1,676.1
120.9
.05
.18
.04
10.4
a $737.6
$773.4
1.3
13.4
ell.2
24.6
1,000.3
3,111.4
l,6n.9
4,723.4
a Includes $683,990,000 United States bonds deposited with the Treasurer of the United States to secure
circulation and $41,191,870 to secure United States deposits.
b Includes $13,230,813.97 other bonds to secure United States deposits.
c Premium on United States bonds.
I t appears t h a t over 41 per cent of securities held by the banks
are in railroad and other public-service corporation bonds; 23 per
cent in state, county, and municipal bonds; 16 per cent in United
States bonds; 8 per cent in bonds not classified; 6 per cent in stocks,
while the remainder, about 5 per cent, is made up of miscellaneous
securities, warrants, etc.
Railroad and other public-service corporation bonds appear to predominate in the investments of all banks except in private and
national banks. Mutual savings banks have over one-half of their
bond investments in railroad and other public-service corporation
bonds, or about $845,000,000, loan and trust companies have about
$472,000,000, or 47 per cent of their investments in this class of
bonds, state banks have about $114,000,000, or 37 percent of. their
investments in the same class of bonds, stock savings banks have
about $59,000,000, or nearly one-half of their investments, in this class
of securities, while private banks have in this class of investments only
about $1,700,000. There are only about $35,800,000 United States
bonds in banks other than national, while $737,600,000 are held by
national banks. Of the $1,116,200,000 investments in state, county,
and municipal bonds. $714,800,000 are in mutual savings banks,
403
COMPTROLLER OF T H E CURRENCY.
$162,000,000 in national banks, $144,500,000 in loan and trust companies, $63,900,000 in state banks, $28,700,000 in stock savings
banks, and $2,300,000 in private banks. Mutual savings banks hold
$23,500,000 United States bonds, stock savings banks $8,5D0,000,
state banks $2,100,000, loan and trust companies $1,300,000, and
private banks about $400,000.
Stocks held to the amount of $166,100,000 are reported by loan and
trust companies, $39,400,000 by mutual savings banks, $37,600,000
by national banks, $29,800,000 by state banks, $7,700,000 by stock
savings banks, $2,800,000 by private banks, or a total holding of
$283,400,000.
INTEREST RATES.
Information in relation to interest rates charged on loans and paid
on deposits has been obtained from over 19,500 banks and is summarized in the following table:
Average rate of interest charged on loans.
Classification.
Time.
Per cent.
7.33
7.73
5.62
6.89
8.03
6.66
National banks
state banks .
Mutual savings banks
Stock savingb^Danks . . ^
Private banks
Loan and trust companies
All banks
7.05
Average rate ol: interest paid on individual deposits.
Deposits
Savings Demand
Time
Demand. subj ect to deposits. certificates deposits.
check.
of deposit.
(a)
Per cent. Per cent. Per cent.
2.35
3.56
7.00
2.62
3.71
7.49
3.92
5.45
3.56
6.75
2.47
3.77
8.02
2.86
3.59
6.49
2.38
6.87
2.54
3.68
Percent. Per cent.
2.82
3 69
3.57
3 92
3.23
3.28
3.01
3 87
3.69
3.18
3.79
a Only 4,997 banks reported this information.
MONEY IN BANKS.
As shown by reports of April 28, 1909, the banks of the country
had cash on hand to the amount of $1,452,014,676.34. On June 30,
1910, the amount in reporting banks aggregated $1,423,808,814.38, a
decrease of $28,205,861.96. About three-fifths of the cash holdmgs
of the banks of the country are in the national banks, as will be seen
from the following table showing the amount of coin and other money
held by all reporting banks:
404
REPORT ON T H E FINANCES.
CLASSIFICATION OF CASH IN B A N K S , J U N E 30,
1910.
7,145 national
banks.
Gold coin
Gold certificates
Clearing-house certificates
Silverdollars
Silver certificates
Subsidiary and minor coins
Fractional paper currency, nickels, and cents.
Legal-tender notes
National-bank notes
Cash not classified
15,950 state
banks, etc.
$151,129 890.66
266,702: 390.00
70,975: 000.00
13,455: 754.00
123,439! 564.00
18,64L 256.11
2,936; 032.44
176,429, 038.00
41,743i 931.00
$70,824,514.01
202,026,560.00
15,660,000.00
11,533,016.00
54,603,414.00
10,643,280.33
4,125,922.67
59,651,155.00
66,908,547.00
62,379,549.15
$221,954,404.67
468,728,950.00
86,635,000.00
24,988,770.00
178,042,978.00
29,284,536.44
7,061,955.11
236,080,193.00
108,652,478.00
62,379,549.15
865,452,856,21
Classification.
558,355,958.16
1,423,808,814.38
Total, 23,095
banks.
In the following table is shown the distribution of money in the
United States, giving the amount in Treasury as assets, in reporting
banks, and elsewhere, in 1892 to 1910, inclusive:
DISTRIBUTION OF M O N E Y IN THE U N I T E D STATES.
Coin a n d
other
Year
money
ended
inthe
J u n e 30— U n i t e d
States.
Coin a n d o t h e r
m o n e y in Treasu r y as assets.0
Amount.
Millions. Millions.
$150.9
1892
$1,752.2
142.1
1,738.8
1893
144.2
1,805.0
1894
217.4
1,819 3
1895
293.5
1,799 9
1896
265.7
1 8 9 7 . . . . . . . 1,905 9
235.7
2,073 5
1898
286.0
2,190.0
1899
284 6
2,339 7
1900
307 8
2,483 1
1901
313 9
2,563 2
1902
317 0
2,684 7
1903
284 3
2,803 5
1904
295 2
1905
: . 2,883 1
333.3
3,069.9
1906
342.6
1 9 0 7 . . . . . . . 3,115.6
340.8
3,378.8
1908
300.1
3,406.3
1909
317.2
3,419.5
1910
Coin a n d o t h e r
m o n e y in reporting b a n k s . &
Coin a n d other m o n e y
n o t in T r e a s u r y or
banks.
I n circulation,
exclusive of coin
a n d other m o n e y
in T r e a s u r y as
assets.
Per
cent.
Amount.
Per
cent.
Amount.
Per
cent.
Per
Per
capita. A m o u n t . capita.
8.60
8.17
7.99
11.95
16.31
13.95
11.37
13.06
12.16
12.39
12.24
11.80
10.14
10.24
10.86
11.00
10.08
8.81
9.27
Millions.
$586.4
515.9
688.9
631.1
531.8
628.2
687.7
723.2
749.9
794.9
837.9
848.0
982.9
987.8
1,010.7
1,106.5
1,362.9
c1,444.3
1,414.6
33.48
29.68
38.17
34.96
29.55
32.96
33.17
33.02
32.05
32.02
32.69
31.59
35.06
34.27
32.92
35.51
40.34
42.40
41.87
MUlions.
$1,014.9
1,080.8
971.9
970.8
974.6
1,012.0
1,150.1
1,180 8
1,305 2
1,380 4
1,411 4
1,519 7
1,536 3
1,600 1
1,725.9
1,666.5
1,675.1
1,661.9
1,687.7
57.92
62.15
53.84
53.36
54-14
53.09
55.40
53.92
55.79
55.59
55.07
56.61
54.80
55.49
56.22
53.49
49.58
48.78
49.36
$15.50
16.14
14.21
13.89
13.65
13.87
15.43
15.51
17.11
17.75
17.90
18.88
18.77
19.22
20.39
19.36
19.15
18.68
18.68
Millions.
$1,601.3
1,596.7
1,660.8
1,601.9
1,506.4
1,640.2
1,837.8
1,904.0
2,055.1
2,175.3
2,249.3
2,367.7
2,519.2
2,587.9
2,736.6
2,773.0
3,038.0
3,106.2
3,102.3
$24.44
23.85
24.28
22.93
21.10
22.49
24.66
25.01
26.94
27.98
28.43
29.42
30.77
31.08
32.32
32.22
34.72
34.93
34.33
a Public money in national-bank depositaries to the credit of the Treasurer of the United States not
included.
b Money in banks of island possessions not included,
c Compiled from special reports, April 28,1909.
The general stock of money in the United States at the close
of the fiscal year ended June 30, 1910, stated roundly, was $3,419,500,000. Of this amount $317,200,000 was in 'the Treasury as
assets; $1,414,600,000, or 41.37 per cent, in reporting banks: and
COMPTROLLER OF THE CURRENCY.
405
$1,687,700,000, or 49.36 per cent, outside of Treasury and banks; that
is to say, in circulation among the people. The amount reported in
circulation, exclusive of coin and other money in the Treasury as
assets, is $3,102,300,000, or $34.33 per capita, being $3,900,000 less
than the amount reported in 1909, and 60 cents less per capita.
GROWTH OF BANKING IN THE UNITED STATES.
The following condensed statement gives the principal items of
resources and liabilities of state, savings, private banks, loan and
trust companies, and national banks from 1864 to 1910, and shows
the growth of banking in the country for the past forty-seven years:
406
REPORT ON T H E FINANCES.
PRINCIPAL ITEMS OF RESOURCES AND LIABILITIES OF STATE, SAVINGS, AND PRIVATE
(COMPILED FROM R E P O R T S TO THE
[Amounts in millions.]
Number of
banks.
Year.
1864
1865...
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876.
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888.^
1889
1890
1891
.
1892
1893
1894
1896
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
. -
. . .
1,861
1.960
2,267
2,279
2,293
2.354
2,457
2,796
3,066
d 1,968
d 1,983
3,336
3,448
3,384
3,229
3,335
3,355
3,427
3,572
3,835
4,111
4,350
4,378
6,179
6,647
7,203
7,999
8,641
9,338
9,492
9,508
9,818
9,469
9,457
9,485
9,732
10,382
11,406
12,424
13,684
14,850
16,410
17,905
19,746
21,346
22,491
23,095
Loans and
Due from
discounts
Bonds,
(includ ng stocks, etc. banks and
bankers.
overdrafts).
$70.7
362.4
550.4
688.5
655.7
686.3
719.3
789.4
871.5
1,439.9
1,564.6
1,748.1
1,727.1
1,720.9
1,66L2
1,607.4
1,662.1
1,90L9
2,050.3
2,133.6
2,260.7
2,272.3
2,456.7
2,944.9
3,161.1
3,475.2
3,842.1
3,965.9
4,336.6
4,368.6
4,085.0
4,268.8
4,251.1
4,216.0
4,652.2
5,177.6
6,657.6
6,425.2
7,189.0
7,738.9
7,982.0
9,027.2
9,893.7
10,763.9
10,438.0
11,373.2
12,521.7
$93.4
404.3
465.2
443.1
440.6.
414.6
406.1
419.9
431.2
713.2
723.2
793.1
807.3
841.2
865.9
1,032.9
,
900.6
500.9
1,049.1
" 951.2
1,030.4
952.0
1,031.1
999.9
1,112.1
1,111.9
1,158.0
1,042.5
1,269.4
1,354.1
1,445.3
1,565.2
'1,674. 4
1,732.3
1,859.7
2,179. 0
2,398.3
2,821.2
3,039.4
3,400.1
3,654.2
3,987.9
4,073.5
4,377.1
4,445.9
4,614.4
4,723.4
$33.3
103.0
. 110.7
100.0
123.1
107.6
121.2
143.8
144.0
167.1
193.6
195.0
198.2
184.6
183.2
204.0
248.9
346.1
307.3
392.8
294.1
. 432.9
349.8
632.1
439.1
513.7
531.3
652.6
684.3
549.2
705.1
714.4
645.0
781.4
924.9
1,203.1
1,272.8
1,448.0
1,561.2
1,570.6
1,842.9
1,981.9
2,029.2
2,135. 6
2,236.2
2,562.0
2,393.0
Specie.
$9.4
12.6
n.i
20.8
18.5
31.1
19.9
24.3
e27.9
«22.3
«19.0
«25.4
e21.3
«29.7
«42.7
«100.2
«129.6
<112.4
1116.2
ellO.2
e 179.0
1152.2
«165.1
226.4
/221.5
221.9
217.3
262.2
210.9
283.4
246.3
251.2
297.7
402.2
449.1
449.7
479.0
541.0
478.2
612.2
617.3
633.0
719.5
860.6
1,044.6
1,009.6
o Includes cash not classified.
b Includes state bank circulation.
c Includes deposits of U. S. disbursing officers.
Paper cur- Total cash
rency.o
in bank.
$190.0
219.3
194.5
179.9
144.0
156.6
174.1
153.3
219.7
277.6
256.4
261.8
324.2
305.0
405.6
384.8
280.6
330.5
285.6
274.2
300.2
328.5
307.1
379.0
378.4
376.8
383.4
394.2
507.8
407.4
414.2
$98.3
199.4
231.9
206.6
200.7
162.6
187.7
194.0
177.6
218.2
262.2
238.7
226.4
230.6
214.6
216.3
286.6
295.0
287.1
321.0
321.2
414.3
376.6
432.8
446.1
499.1
478.3
479.1
686.4
615.9
688.9
631.1
531.8
628.2
687.8
723.3
749.9
807.6
• 848.1
857.2
990.6
994.1
1,016.4
1,113.7
1,368.3
1,462.0
1,423.8
407
COMPTKOLLER OF T H E CUBKENCY.
B A N K S , L O A N A N D T R U S T C O M P A N I E S , A N D N A T I O N A L B A N K S , F R O M 1864
COMPTROLLER OF THE CURRENCY.)
TO
1910.
[Amounts in millions.]
Surplus and
profits.
Capital.
$386.8
397.0
480.8
483.8
486.4
489.7
513.7
561.7
592.6
532.9
550.3
592.6
602.3
614.2
587.7'
580.4
565.2
572.3
590.6
625.6
656.4
678.0
686.7
806.8
853.7
893.3
968.7
1,029.7
1,071.1
1,091.8
1,069.8
1,060.3
1,051.9
1,012.3
992.0
973.6
1,024.7
1,076.1
1,201.6
1,321.9
1,392.5
1,463.2
1,565.3
1,690.8
1,757.2
1,800.0
1,879.9
Circulation :ft
$4.2
54.5
79.4
93.9
109.4
126.0
132.7
143.1 •
155.4
215.6
199.9
254.2
261.6
260.5
237.7
246.1
260.2
292.0
310.1
347. 8
379.6
362.0
393.8
460.2
493.7
531.9
584.0
619.2
650.3
689.3
682.4
699.3
694.4
712.7
732.7
761.1
882.2
955.6
1,096.9
1,273.4
1,360.9
1,439.5
1,558.9
1,645.0
1,761.5
1,834.6
1,952.6
$189.1
131.5
267.8
291.8
294.9
292.7
291.8
315.5
327.1
340.2
338.7
318.1
294.8
290.4
300.4
307.7
318.4
312.5
309. 2
312.2
295.3
269.2
238.0
166.8
155.5
129.0
126.5
124.0
141.2
155.1
171.8
• 178.8
199.2
196.6
189.9
199.4
265.3
319.0
309.4
359.2
399.6
445.4
510.9
547.9
613.7
636. 3
• 675.6
United States
deposits, c
""'."
I n d i v i d u a l deposits.
$58."6'
39.1
33.3
28.3
12.8
13.2
11.1
12.4
15.1
10.6
10.2
11.1
10.9
25.6
252.1
10.7
12.2
12.6
13.9
14.2
14.0
17.1
23.2
58.4
46:7
30.6
25.9
14.2
13.7
14.1
13.2
15.4
16.4
52.9
76.3
98.9
99.1
124.0
147.3
110.3
75.3
89.9
180.7
130.3
70.4
54.5
0
$355.7
641.0
815.8
876.6
968.6
1,032.0
1,051.3
1,251.6
1,353.8
1,421.2
1,526.5
1,787.0
1,778.6
1,813.6
1,717.4
1,694.2
1,951.6
2,296.8
2,460.1
2,568.4
2,566. 4
2,734.3
2,812.0
3,308.2
3,422.7
3,778.1
4,062.5
4,196.8
4,664.9
4,627.3
4,651.2
4,921.3
4,945.1
5,094.7
5,688. 2
6,768.7
7,238.9
8,460.6
9,104. 7
9,553.6
10,000.5
11,350.7
12,215.8
13,099.6
12,784.5
14,035.5
15,283.4
Due to
banks.
$27.4
157.8
122.4
112.5
140.7
129.0
148.5
176.4
172.7
178.6
232.5
194.7
183.3
170.1
•161. 7
187.9
239.6
314.7
279.0
288.2
227.0
293.0
308.9
- 350.1
366.1
434.6
432.3
415.7
464.9
. 419.9
599.1
600.5
521.7
673.4
809.8
1,046.4
1,172.5
1,333.0
1,393.2
1,475.9
1,752.2
1,904.3
1,899.0
2,075.4
2,198.0
2,484.1
2,226.3
Total
assets.
$252.3
1,126.5
1,476.4
1,494.1
1,572.2
1,564.2
1,510.7
1,730.6
1,770.8
2,731.3
2,890.4
3,204.6
3,183.1
3,204.1
3,080.6
3,212.6
3,399.0
3,869.-1
4,031.1
4,208.0
4,221.3
4,426. 9
4,521.5
5,203.7
5,470. 4
5,940.9
6,343.0
6,562.1
7,245.3
7,192. 3
7,290.6
7,609.6
7,553.9
7,822.1
• 8,609.0
'9,904.9
10,785.9
12,357.5
13,363.9
14,303.1
15,198.8
16,918.2
18,147. 6
19,645.0
19,583.4
21,095.0
22,450.3
d Number of national banks only; number of state and savings banks not reported.
« Specie in national banks; incomplete for state banks.
/ Includes coin certificates from 1889; specie for 1902 partially estimated.
Year.
1864
1866
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
I89I
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
I9I0
408
iiEPORo:' on ^Hfi fiiTAi^c:^^.
The following table shows the growth of banking in the United
States, including the island possessions, as indicated by the. number of
banks, capital stock, and individual deposits from 1900 to 1910, inclusive, the number of nonreporting banks, their capital and resources
being estimated from data obtained from reliable sources:
GROWTH OF B A N K I N G IN R E C E N T Y E A R S .
Capital.
Bank.
I n d i v i d u a l deposits.
Number.
Amount.
1900.
National
State, etc
R e p o r t i n g capital nnlv
Per cent.
Amount.
3,732
6,650
3,595
13,977
1,340,160,416
4,939
8,745
4,546
743,506,048
578,418,944
152,403,520
18,230
1,474,328,512
5,331
9,519
3,994
767,378,148
625,116,824
81,409,702
18,844
1,473,904,674
5,668
10,742
3,500
791,567,231
671,599,149
76,664,000
19,910
1,539,830,380
6,053
11,852
3,491
826,129,785
739,163,401
75,356,000
21,396
1,640,649,186
6,429
13,317
4,191
883,690,917
807,178,262
92,357,000
23,937
1,783,226,179
6,824
14,522
3,654
919,100,850
838,058,353
76,646,000
25,000
1,833,805,203
•100. 00
13,270,500,000
6,893
15,598
3,021
933,979,903
866,056,465
55,951,000
50.32
} . 49.68
4,826,060,384
/ 9,209,462,780
\
389,700,000
25,512
1,855,987,368
100.00
14,425,223,164
7,145
15,950
4,168
989,567,114
890,376,774
77,195,000
50.56
} . 49.44
5,343,757,662
/ 9,996,179,942
\ '521,646,040
27,263
Total.....
701,990,554
499,621,208
138,548,654
16,156
1902.
National
State, etc
R e p o r t i n g capital o n l v .
a , 150,728,675
4,535
7,889
3,732
Total
$621,536, 461
403,192,214
126,000,000
1,957,138,888
100.00
15,859,583,644
Per cent.
}
54.00 . $2,458,092,758
46.00 / 4,780.893,692
\
450,000,000
100.00
}
52.4
47.6
31.97
}
7,688,986,450
3,098,875,772
/ 6,005,847,214
\
478,592,792
100.00
68.03
100.00
32.3
}
67.7
100.00
9,583,315,778
1903.
National
State, etc
Nonreporting.
Total
}
50.43
3,200,993,509
49.57 / 6,352,700,055
\
502,522,431
100.00
31.8
}
10,056,215,995
68.2
100 00
1904.
National
State, etc
Nonreporting
Total
}
3,312,439,841
52.06
/ 6,688,107,157
47.94 \
447,998,992
100.00
31.7
}
10,448,545,990
68.3
100.00
1905.
National
State, etc
Nonreporting
Total
}
51.41
3,783,658,494
f 7,567,080,822
48.59 \
435,582,000
100.00
32.1
}
11,786,321,316
67.9
100.00
1906.
National
State, etc
N o n r e p o r t i n g '.
Total
}
50.23
4,055,873,636
49.77 / 8,159,894,029
\
413,160,000
100. 00
32.12
}
12,628,927,665
67.88
100.00
1907.
National .
S t a t e , etc
Nonreporting.
Total.:
.
}
4,322,880,141
49,56
f 8,776,755,207
50.44 \
554,900,000
100.00
31.66
1
68,34
100.00
13,654,535,348
'1908.
National
State, etc
Nonreporting.
--
- -.
Total.
}
50.14
4,374,551,208
49.86 \f 8,409,959,961
485,988,831
32.97
1
67.03
100.00
1909.O
National
S t a t e , etc
..
Nonreporting b
..
Total
33.45
}
66.55
100.00
1910.O
National .
S t a t e , etc
Nonreporting b,
,
Total
o Reports April 28, 1909, and June 30, 1910, respectively.
b Estimated on basis of data submitted by private banks
33.69
}
66.31
100.00
409
COMMROLLER OF T H E CultRENCTr.
During the past decade the growth in the number and volume of
business of the banking institutions of the country has been especially marked. I n 1900 the total number of banks in operation
was estimated at 13,977, with capital of $1,150,728,675. ^ For the
present year the number has increased to 27,263 banks, with aggregate capital of $1,957,138,888. The national banks have increased
since 1900 from 3,732, with aggregate capital of $621,536,461, to
7,145 on June 30, 1910, with aggregate capital of $989,567,114;
other reporting banks :from 6,650, with aggregate capital of
$403,192,214 in 1900 to 15,950, with aggregate capital of $890,376,774.
In 1900 the nonreporting banks were estimated at 3,595, with capital
of $126,000,000. For the present year banks nonreporting are estimated at 4,168, with capital of $77,195,000.
BANKING POWER
OF THE UNITED
STATES.
The following table shows for 1910 the banking power of the
United States, including the island possessions, as indicated by the
volume of capital, surplus, deposits, and circulation:
Number.
National banks..
State, etc., banks.
N o n r e p o r ting
banks b
7,145
15,950
Capital.
$989,567,114
890,376,774
Surplus, etc.
Circulation.
Deposits.
$861,403,608 aS5,341,757,662
1,091,072,210 9,996,179,942
4,168
77,195,000
28,346,568
1,957,138,888
1,980,822,386
15,859,583,644
$675,632,565
$7,868,360,949
12,553,695,826
675,632,565
21,049,244,383
521,646,040
27,263
Total.
627,187,608
a Includes government deposits.
b Number of banks and amounts estimated upon statements from reporting private banks.
BANKS AND BANKING IN T H E ISLAND
POSSESSIONS.
PHILIPPINES.
Reports as of June 30, 1910, have been furnished, this office by the
War Department for the following institutions: Hongkong and
Shanghai Banking Corporation at Manila, with branch at Iloilo;
Chartered Bank of India, Australia, and China at Manila, with branch
at Cebu; International Banking Corporation at Manila, with branch
at Cebu; Banco Espanol Filipino at Manila; Sucursal Del Banco
Espanol at Iloilo, and the Savings Bank at Manila. The principal
items of resources and liabilities of these nine banking institutions are:
Resources.
Amount.
Loans and discounts
... .
Bonds, securities, etc
Banking house
Furniture and fixtures
Other real estate owned
Due from banks and bankers
Checks and other cash items
Cash on hand
Other resources
$11,593,254.72
742,476. 46
187,926.91
29,215.24
346,343.46
1,689,386. 72
64,732.06
3,489,754.21
5,726,087.26
Total
23,869,177.04
Liabilities.
Capital paid in
Surplus
Undivided profits
Dividends unpaid
Reserved for taxes
Due to banks and bankers
Deposits
Bills payable
Notes and bills discounted
All other liabilities
Total . .
. .
Amount.
$1,630,418.14
149,176. 57
279,645.32
48,224. 75
31,193.27
2,167,320.00
13,871,094.40
17 591.38
984,931.26
4,689,581.96
23,869,177.04
410
REPORT ON T H E FINANCES.
Comparing the foregoing with returns for the corresponding period
in 1909, there is shown to have been an increase in resources of
$2,274,906.76.
HAWAII.
Ten banking institutions other than national in Hawaii submitted
returns as of June 30, 1910. The principal items of resources and
liabilities are:
Resources.
Loans and discounts
Bonds, securities, etc
Banking house
Furniture and fixtures
Other real estate owned
Due from banks
Checks and other cash items
Cash on hand
All other resources
Total:
Amount.
$8,345,801.72
3,127,123.12
140,862.04
54,399.26
188,509. 42
1,196.132.60
31,837.86
2,475,694.77
318,043.09
Liabilities.
Capital paid in
Surplus
.'
Undivided profits
Dividends unpaid
Due to banks
Deposits
Bills payable
All other liabilities
15,878,403.88
Total
Amount.
'
$2,033,170.00
662,619.92
258,573.36
' 5,815.00
81,009.40
12,789,742.59
11,246.59
36,227.02
15,878,403.88
There are also four national banking associations in operation in
Hawaii, with aggregate resources on June 30, 1910, of $3,184,456.64,
making the. combined resources of the two classes of banks
$19,062,860.52. Combined the principal items of resources and
liabilities of the 14 banks, including the four national associations,
are as follows:
Loans.
Bonds, securities, etc
Due from banks
Cash on h a n d .
Capital
Surplus and undivided profits
Due to banks
Individual deposits.
United States deposits
^resources
$9, 570, 872
4,118, 613
1, 220,413
2, 934, 776
2, 643,170
1,124, 211
188,434
14, 095, 348
658, 728
19,062,860
'.
PORTO RICO.
Eeports as of June 30, 1910, were received from one national and
nine other banking institutions in Porto Rico. The principal items
of resources and liabilities of the nine banks other than national in
operation in the island were on that date as follows:
Liabilities.
Resources.
Loans
B o n d s , securities, e t c
B a n k i n g house
F u r n i t u r e a n d fixtures
O t h e r real e s t a t e o w n e d
D u e from b a n k s
Checks a n d o t h e r cash i t e m s
Cash o n h a n d
All other resources
Total
$6,852, 070.93
2,239, 751.93
150, 006.00
26, 782.58
205, 005.22
2,128, 719.11
1,093, 392.40
2,684, 828.57
124, 718.82
15,505,275.56
Capital
Surplus
U n d i v i d e d profits.
Dividends unpaid.
Due to banks
Deposits
All other habilities
Total
$1,378,145.95
639,078.95
286,164.45
9,020.51
294,289.61
11,024,750.45
1,873,825.64
15,505,275.56
411
COMPTROLLER OF T H E CURRENCY.
The following is a consolidated statement of the principal items of
resources and liabilities of all reporting banks as of June 30, 1910:
Loans
Bonds, securities, etc
Due from banks
Cash on hand
Capital..
Surplus and undivided profits
Due to banks
Deposits
Aggregate resources
$6, 936, 313. 69
2,487, 69L 93
2, 287, 69L 93
".. 2,715,304.94
1,478,145. 95
950,405. 09
294, 289. 61
11,343,017.44
16,047,354. 24
The one n-ational bank in operation in Porto Rico had on June 30,
1910, aggregate resources of $542,078.68, making the combined
resources of all reporting banks of the island, as shown above,
$16,047,354.24, being nearly $3,000,000 more than was reported in
1909.
BUILDING AND LOAN ASSOCIATIONS.
Statistics relating to all local building and loan associations in the
United States for the year 1909-10, incorporated in the annual report
of the secretary of the United States League, evidence the existence
of 5,713 associations of this character, with total assets of $856,332,719
and a membership of 2,016,651. As compared with the returns for
the prior year there is shown to have been an increase in assets of
$72^156,966 and in membership of 96,394. I t appears from the
statistics compiled by the secretary that the average amount due
each member in all of the building and loan associations has increased
from $367.22 in 1901 to $424.63 in 1909. The average is but $20.57
less than the average deposit in savings banks of the United States.
I n the tables following are shown, by States, the number of building and loan associations, their membership, total assets^ and changes
in assets and membership during the year, together with a statement
of the receipts and disbursements of the associations for the year
ended December 31, 1909.
N U M B E R OF. ASSOCIATIONS, M E M B E R S H I P , AND A S S E T S OP THE BUILDING AND L O A N
. ASSOCIATIONS OF THE U N I T E D STATES, J A N U A R Y 1,
1910.
states.
Pennsylvania
Ohio
N e w Jersey
Illihois
Massachusetts
NewYork
Indiana
California....
Nebraska'.
Michigan
D i s t r i c t of C o l u m b i a .
Louisiana
Missouri
Kansas
N o r t h Carolina
Wisconsin
Minnesota
Iowa
W e s t Virginia
Maine
Tennessee.
Connecticut
New Hampshire
North Dakota
Other states
„.
Total
NumTotal
ber of
associa- m e mib e r sh p.
tions.
1,466
647
477
524
140
252
327
105
70
59
22
59
128
58
98
53
67
48
38
35
15
11
17
9
1,012
5,737
T o t a l assets.
394,860 $168,043,443
328,866 153,504,501
164,569
78,788,161
118,994
58,444,972
129,619
55,945,634
127,973
49,631,104
120,500
35,934,418
30,839
20,228,116
49,441
17,094,771
41,188
16,304,383
27,125
14,393,927
29,800
13,461,091
23,717
10,168,631
39,114
10,107,663
6,791,619
23,789
5,268,853
14,517
4,559,027
11,022
15,300
4,390,443
11,460
4,283,728
9,691
4,085,811
5,360 • 2,800,917
2,864
2,096,523
7,400
2,016,861
3,125
1,785,782
'298,794 120,652,232
2,029,927
860,782,611
Increase
Increaise in in m e m - Decrease
in m e m assets.
bership. bership.
$9,532,698
14,164,077
5,090,272
4,131,506
4,605,731
2,636,976
1,803,002
592,449
3,678,949
1,247,890
5,414
1,204
7,215
10,260
9,044
6,262
422
1,937,437
867,970
1,199,545
770,198
538,159
2,437
2,019
5,485
169,844
216,669
72,614
197,693
38,734
287,960
10,003,419
230
262
145
150
525
11,325
63,783,792
73,165
303
6,758
2,006
2,487
2,002
27
2,817
412
REPORT ON T H E FINANCES.
RECEIPTS AND DISBURSEMENTS OF BUILDING AND LOAN ASSOCIATIONS FOR THE YEAR
E N D E D D E C E M B E R 31, 1909.
Receipts, 1909.
Cash on hand January 1,1909
Weekly, dues
Paid-up stock
Deposits
Loans repaid
Interest
Premium
Fines
Pass books and initiation
Borrowed money
Real estate sold
Miscellaneous receipts
Total
Amount.
$22,030,682
204,022,656
17,933,107
47,863,514
161,403,676
48,497,657
3,130,724
588,439
559,874
54,073,545
4,084,795
15,703,683
579,892,352
Disbursenients, 1909.
Pass-book loans
Mortgage loans
Stock withdrawals
Paid-up stock withdrawals..
Deposit withdrawals
Expenses
Borrowed money
Interest
Real estate purchased.
Miscellaneous disbursements
Cash on hand January 1,1910
. Total
Amount.
$14,019,702
224,349,510
160,055,408
28,222,220
42,384,747
6,130,049
56,587,265
1,473,954
3,764,867
14,539,585
28,365,045
579,892,352
BUILDING AND LOAN ASSOCIATIONS OF THE DISTRICT OF COLUMBIA.
I n compliance with the requirements of the act of March 4, 1909,
the building and loan associations in operation in the District of
Columbia submitted reports of their condition, with statements
relating to their receipts and disbursements, for the periods ended
December 31, 1909, and June 30, 1910. At the close of the first
semiannual period there were in operation 22 associations, with
assets of $14,928,176.81, the receipts for that period being stated at
$4,813,399.41.
For the six months ended June 30, 1910, reports were received from
but 19 associations, as two of those theretofore in existence were
placed in liquidation and one in the charge of a receiver. The assets
of the 19 associations on June 30 are shown to have been $15,250,731.52
and the receipts for the six months $5,251,731.77. The plan of
association of the 19 institutions reporting on June 30 is as follows:
Permanent, 10; serial, 8, and terminating, 1.
The total number of shares issued by these associations is stated at
381,083i, and there were in force on July 1, 128,292 shares. The
membership of the associations is stated at 29,233, of whom 7,390 are
borrowing and 21,843 nonborrowing members. The installment payments of one association are $2 per month, of one other $2.50, and of
the remaining 17, $1.
-,
The individual reports and the abstracts for each of the semiannual
periods are incorporated in the appendix to this report.
SCHOOL SAVINGS BANKS.
The report for the year ended January 1, 1910, compiled by Mr.
J. IT. Thiry, of Long Island City, N. Y., relating to school savings
banks, includes information in relation to these banks in Canada,
Porto Rico, South Australia, and Western Australia with those of the
United States.
The school savings bank system is stated to be in operation in 1,168
schools, wherein are conducted 8,515 banks. The number of pupils
in these schools is stated at 632,665 and the number of depositing
pupils 203,458. From the date of the introduction of the system the
total amount deposited by these school children aggregated
$5,051,644.60, of which $4,180,948.59 has been withdrawn, leaving
the balance to their credit on January 1, 1910, $870;696.01.
413
COMPTROLLER OF T H E CURRENCY.
By deducting the figures for schools located outside of this country
the statistics for school savings banks in the United States show 7,065
banks located in 530 houses, and 160,488 depositors with an aggregate
balance to their credit on January 1, 1910, of $721,732.18.
FOREIGN BANKS OF ISSUE.
The following table shows the principal items of assets and liabilities of the banks of issue in the countries named for the dates
indicated:
STATEMENT IN P O U N D S STERLING OF THE PRINCIPAL ITEMS OF ASSETS AND LIABILITIES OF F O R E I G N B A N K S OF I S S U E .
'
[Figures from the London Economist.]
England,
June 29,
1910.
France,
- Oct. 13,
1910.
Italy
Oct. 15,
1910.
Spain,
Oct. 15,
1910.
Russia,
Oct. 1-14,
1910.
Sweden,
Oct. 15,
1910.
•
ASSETS.
Coin and bullion
£42,396,351 £167,074,000 £41,778,000 £46,992,000 £128,619,000
Loans and discounts... 42,832,163
64,479,000 25,448,000 35,938,000
18,462,000
Government securities.. 36,423,939
6,251,000
15,704,000
13,779,000
Other securities
.
6,000,000
35,755,000
Other assets.
39,740,000
•
LIABIUTIES.
Capital stock
Notes in circulation
Deposits
Other liabilities
Reserve fund
14,553,000
28,697,050
75,142,599
259,804
3,000,000
Germany,
Oct. 15,
1910.
2i6,3i6,666
27,031,000
Belgium,
Oct. 13,
1910.
58,778,000
7,697,000
69,595,000
18,520,000
Netherlands, Oct.
15,1910.
AustriaHungary,
Oct. 15,.
1910.
5,500,000
129,763,000
77,626,000
9,687,000
£4,445,000
8,053,000
1,773,000
2,205,000
10,685,000
2,138,000
Switzerland, • Norway,
Oct. 15,
Oct. 15,
1910.
1910.
ASSETS.
Coin and bullion
£47,542,000
Loans and discounts... 64,005,000
Other securities
£8,044,000 £11,852,000 £67,935,000
12,837,000 36,953,000
24,136,000
£6,841,000
5,083,000
£2,048,000
2,832,000
542,000
33,295,000
2,339,000
10,379,000
897,000
4,756,000
290,000
LIABILITIES.
Notes in circulation....
Deposits
85,976,000
30,525,000
23,735,000
227,000
92,802,000
SAVINGS BANKS IN FOREIGN COUNTRIES.
The accompanying tables relating to the form of organization and
statistics relative to savings banks, including postal savings institutions, in foreign countries were compiled for this report by the
Bureau of Statistics, Department of Commerce and Labor, the data
being taken from latest official reports of the respective countries.
The population of the countries in which these institutions are
located is stated at 632,985,000; the numberof depositors in savings
banks, 101,169,832, and deposits in these institutions $10,033,989,560.
To the data compiled by the Bureau of Statistics have been added
corresponding information relating to savings banlcs in the United
States, for June 30, 1910, shown elsewhere in detail. The aggregate
population of all countries relative to which information has been
414
REPORT ON T H E FINANCES.
obtained in respect to savings banks is stated at 730,948,000; the
number of depositors in savings banks 110,362,740, the total volume
of deposits $14,105,315,429, and the average deposit account $127.88.
The average deposit account in foreign countries was $99.18, that in
the United States being $445.20. Approximately one-twelfth of the
depositors in all savings banks of the world are depositors in savings
banks in the United States. The deposits in savings banks in the
United States amount to nearly 30 per cent of the deposits in all savings banks of the world. Based upon the stated population of foreign
countries, the average deposit per inhabitant is shown to be $15.85.
I n the United States the average deposit is $45.04 and the average
for all countries $19.29. The table relating to postal savings banks
presents conditions existing in 1898 and 1908 with respect to the
number of depositors, amount of deposits, and average deposit
account. There is not an exact uniformity in dates, but the exceptions are stated in the footnote to the table.
The number of postal-bank depositors increased from 22,130,414
in 1898 to 43,180,903 in 1908, and the deposits from $1,300,276,860
to $2,227,927,502. The average postal savings account in 1898 was
$58.75, whereas in 1908 it was but $51.59, the percentage of increase
in depositors being greater than the percentage of increase in deposits.
The tables in question follow.
SAVINGS
BANKS,
INCLUDING
POSTAL
SAVINGS
BANKS:
ACCOUNT
AND
NUMBER
PER
OF
DEPOSITORS,
INHABTTANT,
BY
AMOUNT
SPECIFIED
OF
DEPOSITS,
AVERAGE
DEPOSITS
PER
DEPOSIT
COUNTRIES.
[Latest d a t a t a k e n from t h e official reports of t h e respective countries.]
Population.
Austria
Belgium...
D a t e of report.
28,350,000
Dec. 31,1907
Dec. 31,1908
...do
...do
7,239,000
4,221,000
3,400,000
2,659,000^
11,190,000
Bulgaria..
Chile
Denmark..
Egypt
France
Algeria
Tunis
Germany
Luxembourg.
39,267,000
5,232,000
2,229,000
62,982,000
246,000
Hungary
20,898,000
Italy
33,911,000
Japan
50,170,000
Formosa....
China and Korea.
Netherlands
Dutch East Indies..
Curagao
Dutch Guiana
Norway
Roumania
Russia
Finland
Spain
Sweden
3,080,000
5,829,000
37,717,000
52,000
83,000
2,353,000
6,772,000
160,095,000
2,975,000
19,713,000
5,430,000
....do
J u n e 30,1910
Mar. 31,1908
Dec. 31,1908
/ D e c . 31,1907
\ D e c . 31,1908
do
Dec. 31,1909
Dec. 31,1907
....do
[Dec. 31,1908
^...do
[....do
fDec. 31,1907
\ J u n e 30,1909
(Dec. 31,1908
\ M a r . 31,1910
fDec. 31,1908
\ M a r . 31,1908
Mar. 31,1909
/ D e c . 31,1907
\ D e c . 31,1909
/....do
\....do
Dec. 31,1907
Dec. 31,1908
do
J u l y 1,1909
J u n e 30,1910
/ D e c . 31,1908
\....do
1908
/ D e c . 31,1908
\..--do
F o r m of organization.
C o m m u n a l a n d p r i v a t e savings b a n k s
Postal savings b a n k s : Savings d e p a r t m e n t
Postal savings b a n k s : Check d e p a r t m e n t
G o v e r n m e n t savings b a n k s , i n c l u d i n g depositories a t postoffices.
Postal savings b a n k s
Caja d e ahorros
C o m m u n a l a n d corporate savings b a n k s
G o v e r n m e n t savings b a n k s
P r i v a t e savings b a n k s
Postal savings b a n k s .
Municipal savings b a n k s
Postal savings b a n k s
P u b l i c a n d corporate savings b a n k s
S t a t e savings b a n k s
P r i v a t e a n d c o m m u n a l savings b a n k s
Postal savings b a n k s : Savings d e p a r t m e n t
Postal savings b a n k s : Check d e p a r t m e n t
C o m m u n a l a n d corporate savings b a n k s
Postal savings b a n k s
P r i v a t e savings b a n k s
Postal savings b a n k s
.'.
P r i v a t e savings b a n k s
Postal savings b a n k s
P o s t a l savings b a n k s
P r i v a t e savings b a n k s
P o s t a l savings b a n k s
P r i v a t e savings b a n k s
Postal
do
do
C o m m u n a l a n d p r i v a t e savings b a n k s .
G o v e r n m e n t savings b a n k s
S t a t e , including p o s t a l savings b a n k s
P r i v a t e savings b a n k s
P o s t a l savings b a n k s
P r i v a t e savings b a n k s .
C o m m u n a l a n d t r u s t e e s savings b a n k s
P o s t a l savings b a n k s
Average
deposit
account.
Average
deposit
per inhabitant.
N u m b e r of
depositors.
Deposits.
3,860,935
2,106,539
86,500
2,624,991
$1,030,692,915
46,009,897
65,458,557
171,044,463
$266. 95
2L84
756. 75
65.16
$36. 36
L62
2.31
23. 63
O
O
225,879
268,731
1,121,643
86,728
7,793,549
5,291,673
19,301
5,628
19,291,320
61,049
1,094,984
084,299
17,491
2,048,304
4,948,311
7,262,622
10,255,520
5,825
84,010
116,189
401,950
1,462,615
13,989
71,214
3,250
8,039
908,004
207,021
7,158,091
268,709
58,826
438,113
1,493,764
660,270
7, 108,693
10, 543,275
165, 112,198
1, 986,755
683, 794,796
296, 964,867
934,380
I, 222,230
3,313, 104,942
10, 443,220
398, 053,971
18, 803,992
14, 559,000
393, 943,067
288, 134,905
67, 897,223
63, 110,886
101,412
897,328
174,461
216,955
475,600
668,114
073,705
51,310
268,532
121, 152,346
11, 611,420
678: 450,082
39, 897,978
1, 432,801
237,022
40; 231,786
191, 441,249
12,
31.47
39.23
147. 21
22.91
87.74
56.12
48.41
217. 19
17.17
171. 06
363. 52
27.48
832. 37
192. 32
58.23
7.97
6.15
17.41
10.68
27.32
92.59
44.08
190.73
43.16
15.79
33.40
133.43
56.09
94.78
148.48
24.36
91.84
128.02
22.21
L68
3.10
62.10
.18
17.41
7.56
.18
.55
52.60
42.45
19.05
.90
.70
n.62
8.50
L15
1.26
.03
.29
W
O
6.38
.99
3.24
51.49
L71
4.24
13.41
.48
2.04
36.22
2.29
^
^
H
t-^
r^
w
w
o
hrj
H
K
w
o
cl
w
w
«
^
n
^
I—^
SAVINGS B A N K S , INCLUDING POSTAL SAVINGS B A N K S : N U M B E R OF DEPOSITORS, AMOUNT OF DEPOSITS, AVERAGE DEPOSITS PER DEPOSIT
ACCOUNT AND P E R INHABITANT, BY SPECIFIED COUNTRIES—ContiQued.
Population.
Date of report.
Form of organization.
Switzerland
United Kingdom
British India
Australia, Commonwealth
New Zealand
Canada
British South Africa
British West Indies
British colonies, n. e. s
1908-9 Communal and private savings banks
3,559,000
/Nov. 20,1909 Trustee savings banks
45,006,000 \Dec. 31,1909 Postal savings banks
232,073,000 Mar. 31,1909 — d o
1908-9 Goverament,
4,374,000 Dec. 31,1908 Postal savingstrustee, and joint stock savings banks.
banks
961,000
f...-do
June 30,1910 \Dominion government savings banks
7,490,000
1908 Government, post office, and private savings banks.
6,051,000
1908-9 Goverimient and post office savings banks
1,767,000
1908-9
do
15,611,000
Total foreign countries..
United States
Phihppine Islands
632,985,000
90,363,000 June 30,1910
7,600,000
do
Grand total
730,948,000
Mutual and stock savings banks..
Postal savings banks
Number of
depositors.
Deposits.
Average deposit
deposit
per inaccount. habitant.
768,948
804,895
404,568
318,632
394,154
388,945
147,488
37,419
196,607
85,348
206,892
$279,848,800
253,943,620
801,006,750
49,424,157
238,838,754
65,757,442
42,848,025
14,563,224
22,604,917
5,840,997
12,006,541
$158.20
140.70
702.36
37.48
171.31
169.07
290. 52
389.19
114.98
68.43
58.03
$78.63
5.64
17.80
.21
54.60
68.43
5.72
1.94
3.74
3.31
.77
101,169,832
9,192,908
13,102
10,033,989,560
4,070,486,246
839,623
99.18
445.20
64.00
15.85
45.04
.11
110,362,740
14,105,315,429
127.88
19.29
The figures of population are for the nearest date'to which the statistics of savings banks relate.
Belgium.—DoXdb for the state-controlled "Caisse Generale d'Epargne," including savings depositories at post-offices. In addition, reports are given for 3 municipal and 5 private
savings banks. On December 31,1908, the former had 16,783 depositors, credited with $1,939,668 of deposits, and the latter 27,844 depositors, with $8,486,439 of deposits. The amount
• of deposits in government savings banks in the Belgian Kongo at the end of 1908 is stated officially as $605,772.
Denmark.—Exclusive of 1,688 deposits of $164,209 in savings banks in Faroe Islands. Exclusive of data for savings departments of ordinary banks, which comprised 145,719
accounts credited with $28,679,196 on March 31,1908.
Germany.—At the end of the fiscal year 1907-8 the total savings banks deposits in Germany had increased to $3,305,606,000. This amount includes $2,170,680,018 to the credit
of 11.484,139 depositors in the Prussian savings banks.
ieowmama.—Figures for the "Case de economle,"
iSwssm.—Includes 41,361 depositors in school savings depositories, credited with $110,200.. The above total is exclusive of $146,338,000 worth of securities held by the savings
banks to the credit of depositors.
Spain, f The peseta has been converted at the rate of 17.14 cents. Data taken from "Espana Economica y Financiera," September 25,1909..
SwUzerland.—Pielimmai-y statement furnished by the Swiss Federal Statistical Bureau under date of September 30,1909, for 372 savings banks.
United Kingdom.—Figures for trustee savings banks relate to the year ending November 20; figures for post-office savings banks to December 31. Exclusive of government
stock held for depositors, which at the end of the year amounted to $105,311,644 in the post-office savings banks and to $12,170,795 in the trustees' savings banks.
British /TwZia.—Exclusive of population of the feudatory States.
CaTiacZa.—Exclusive of data for special private savings banks, which on June 30,1910, held deposits amounting to $32,156,708. This total does not include the savings deposits
in chartered banks ("Deposits payable after notice or on a fixed day") which on June 30,1910, amounted to $534,432,054.
O
o
H
>
Ul
417
COMPTROLLEE''OF T H E CUREENCY.
COMPARATIVE STATEMENT RELATIVE TO N U M B E R OF DEPOSITORS, AMOUNT OF
DEPOSITS, AND AVERAGE DEPOSIT IN POSTAL SAVINGS B A N K S IN 1898 ^t AND
ON DATE OF LATEST R E T U R N S . ^
1908-9.
1898-99.
Country.
Number of
depositors.
Austria...
Belgium
Bulgaria
Finland
Fnnce
Hungary
Italy
Netherlands
Riiissia
Swijden
Un:ited Kingdom
Baliamas
Car ada
British Guiana
Dui;ch Guiana
Curagao....
Brii;ish India
Ceylon
Straits Settlements
Federated Malay States...
Dutch East Indies
Japiin
ForoQosa
Cape of Good Hope
GoM Coast
OraQge River Colony
Rhcdesia
Sierra Leone
Transvaal
Egypt
Tunis
Western Australia
New Zealand
Philippine Islands
Ne\^- South Wales c
Victoria c
Queensland c
Tasmaniac
Total
1,318,626
1,289,659
29,290
30,203
3,073,737
337,936
3,302,064
693,228
757,770
535,305
7,630,502
1,107
150,987
7,225
4,967
1,406
755,426
43,003
2,244
2,477
17,010
1,253,638
14,697
58,953
469
904
811
4,562
12,544
13,587
3,097
29,791
169,968
2,676
163,552
338,260
68,126
10,607
22,130,414
Deposits.
$23,316,523
88,619,241
* 656,841
509,536
168,879,128
5,368,741
110,072,639
28,144,884
52,003,765
17,161,004
699,280,758
50,689
37,507,456
210,597
205,876
13,741
34,249,564
356,559
191,610
146,002
" 836,710
12,825,620
241,935
8,452,001
24,371
33,506
108,528
210,739
1,614,262
425,098
511,179
5,217,170
24,126,993
255,050
24,459,365
39,415,554
13,663,697
909,928
1,300,276,8
Average Number of
deposits. depositors.
Deposits.
2,106,639
$17.68
2,290,114
68.72
22.43
225,879
16.87
68,826
54.94
6,291,673
15.89
684,299
33.34
4,948,311
40.60
1,462,616
68.63
1,934,034
32.06
560,270
78.54 11,404,568
45.79
2,297
248.48
147,488
29.15
13,606
41.45
8,039
9.77
3,250
45.34
1,318,632
8.28
79,704
85.40
4,017
58.94
4,536
49.19
71,214
10.23
8,815,436
16.46
78,879
143.37
101,533
51.97
1,747
37.06
6,826
133.82
1,911
46.19
5,640
128.69
55,105
31.29
86,728
165.06
5,628
175.13
71,262
141.95
342,077
111.77
13,102
149. 55
309,982
116.52
532,425
200.58
106,627
85.78
20,084
$46,009,897
148,791,369
7,108,693
1,432,801
296,964,867
18,803,992
288,134,905
64,476,600
138,393,695
12,441,249
801,006,750
153,918
42,848,025
411,360
268,632
52,143
49,424,157
794,077
367,195
278,490
3,073,705
53,070,016
882,921
10,343,172
100,620
807,679
259,818
389,057
7,175,912
1,986,755
1,222,230
14,855,142
59,173,204
839,623
58,976,004
,68,625,972
25,102,473
2,881,484
43,180,903
2,227,927,602
58.75
Average
deposits.
$21.84
64.97
31.47
24.37
65.12
27.48
58.23
44.08
71.66
22.21
70.24
67.01
290.52
30.23
33.40
16.04
37.49
9.96
91.41
61.39
43.16
6.02
n.i9
101.87
57.59
118.32
135.96
69.00
130.22
22.91
217.19
208.46
172.98
64.00
190.26
128.89
236.42
143.46
5L59
a The earlier figures are for 1898 with the following exceptions: Belgium, Russia, Dutch East Indies,
Fomosa, Tunis, and Orange River Colonv, 1899; Egypt, 1902; Federated Malay States (government
savings banks), 1904; Dutch Guiana, 1904; Curagao and Rhodesia, 1905; Philippines, June 30,1907; Canada,
June 30,1900.
b V.m returns with the following exceptions: Curagao, 1907; Belgium, Netherlands, United Kingdom,
Federated Malay States, Dutch East Indies, and Tunis, December 31, 1909; British India and Japan,
March 31,1909; Italy, Victoria, Queensland, and Western Australia, June 30,1909; Canada and Philippine
Islands, June 30,1910.
c It has been thought proper to include among the postal savings banks also those savings banks in the
Australian States which prior to the transfer of the state post-offices to the federal government were operated by the respective state post-offices. All these banks continue at present to be operated as government
savir.gs banks.
65872°—FI 1910-
-27
418
REPORT ON THE"^ FINANCES.
INSOLVENT NATIONAL BANKS.
In the year ended October 31, 1910, the following-named national
banks werCoClosed and placed in charge of receivers:
Name and location
of bank.
Farmers National Bank,
Tulsa, Okla.a
Merchants and Manufacturers'
National
Bank,
Columbus,
Ohio ft
National City Bank,
Cambridge, Mass
First National Bank,
Rhyolite, Nev....'
Middleport
National
Bank,
Middleport,
Ohiob
First National Bank,
Billings, Mont
National Bank of Beattyville, Beattyville,
Charter
number.
Date of authority to
commence
business.
Circulation.
Date of
closing. •'
Capital
stock.
Issued.
ReOutdeemed. standing.
$100,000
$30,000
$12,810
$17,190
Feb. 16,1910
.500,000
100,000
89,755
10,245
Feb. 21,1910
100,000
25,000
11,105
13,895
50,000
12,500
5,785
6,715
6669
Mar. 12,1903- Dec. 14,1909
5029
Dec. 23,1895
770 Jan. 31,1865
8686
May 14,1907
Mar. 19,1910
4472
Nov. 22,1890
May
9,1910
50,000
11,250
10,680.
570
3097
Dec. 27,1883
July
2,1910
150,000
37,500
3,650
33,850
133,785
107,465
7751 May 19,1905
Total (7 banks)...
o Restore i to solv ency.
Oct. 15,1910
25,000
25,000
975,000
241,250
25,000
b Formerl 7 in voluntary liquidation.
As will be observed from the foregoing statement, while 7 banks were
)laced in charge of receivers during the year, there were in fact but 4
allures, as 1 association was restored to solvency and 2 were banks
which had been placed in voluntary liquidation some years since and
were placed in the charge of receivers for the purpose of settling matters
that could no1> be satisfactorily adjusted otherwise.
The final settlement of the affairs of 18 insolvent national banks
was effected during the year. The capital of the banks in question
at the date of failure aggregated $1,555,000, the assets coming into
the custody of the receivers amounting to $12,494,806. Collections from assets and on account of shareholders' liability aggregated
$8,352,274. The liabilities of the banks to depositors and other
creditors as shown by claims proved were $7,378,095 on which
dividends were paid to the amount of $6,340,582, or at the rate of
85.94 per cent. Including with .dividends paid the offsets that were
allowed and loans paid, depositors and other creditors received on an
average 89.88 per cent. The cost of administration of these trusts
is stated at $438,741, an amount representing 3.5 per cent of the
assets and 5.3 per cent of the total collections.
From the date of the first failure in 1865 to October 31, 1910, 514
national banking associations have been placed in the charge of
receivers of which, however, 25 were restored to solvency. The
nominal value of assets administered upon by the receivers aggregated $341,805,971, from which was collected $169,975,721. Collections from assessments upon shareholders to make good in part
"deficiency in assets were effected to the amount of $21,588,010,
making the total cash receipts by the receivers, $191,563,731.
f
COMPTROLLER OF T H E CURRENCY.
419
The collections were disposed of mainly as follows: Dividends paid
$135,233,169, loans paid and other disbursements $38,552,673, legal
expenses, receivers' salaries and other incidental expenses $13,721,949.
The capital of all insolvent banks at date of failure was $84,370,920,
and the amount of assessment levied thereon $45,532,240. The circulation of these banks at the time of closing was $26,308,672.
The affairs of 434 insolvent banks had been settled up to the close
of the year. The assets administered upon aggregated $296,406,777,
and the capital was $70,105,920. Collections from assets are shown
to have been $147,176,649, and from the assessment upon shareholders $19,498,142, making total collections $166,674,791, from
wfiich on claims proved of $154,741,488, dividends were paid to the
amount of $117,905,597. The average rate of. dividend paid on
claims proved was 76.20 per cent, but including offsets allowed,
lo8,ns paid, and other disbursements with dividends, creditors received
on an average 82.64 per cent. Expenses of administration of these
434 trusts—-that is, receivers' salaries, legal and other incidental expenses, amounted to $12,144,016, a sum equal to 4.10 per cent of the
nominal value of the assets and 7.39 per cent of the total collections
from assets and shareholders.
The outstanding circulation of these banks at the date of failure
agi^egated $22,415,209, for the security of the redemption of which
Uriited States bonds of the par value of $25,078,400 were held by the
Treasurer of the United States, which, on being disposed of for
$2(5,016,133, added $3,600,924, to the funds available for the payment of dividends.
On the average shareholders were assessed approximately 58 per
cent on their holdings, the collections thereon being only about 50
pel' cent. The amount realized on the assessments was nearly 28
er cent of the par value of the capital stock of these insolvent national
anks.
J U the close of the year there were still 55. insolvent national
banks in the charge of receivers, their capital being $7,805,000, circulation outstanding $3,893,463. The assets of these banks aggregated $45 399,194, from which $22,799,072 has been collected, and
from which dividends have been paid to the amount of $17,327,572.
During the current year 56 dividends have been paid to the creditors
of 39 insolvent banks, the total disbursements being $3,386,773.38.
E
420
REPORT ON T H E FINANCES.
In the following table is summarized the condition of all insolvent
national banks; the condition of banks closed and still in charge of
receivers being shown separately:
SUMMARY
OF R E P O R T S
OF R E C E I V E R S OF INSOLVENT 'NATIONAL
OCTOBER 31, 1910.
BANKS,
1865
TO
Closed receiverships,
459. a
Active receiverships,
55.
$296,406,777
$45,399,194
$341,805,971
23,696,964
107,773,294
14,045,068
3,714,802
147,176,649
3,417,858
4,448,160
14,734,104
22,799,072
27,114,822
112,221,454
14,045,068
-18,448,906
169,975,721
296,406,777
45,399,194
341,805,971
147,176,649
19,498,142
22,799,072
2,089,868
169,975,721
21,588,010
166,674,791
24,888,940
191,563,731
Disposition Qf collections:
Loans paid and other disbursements
Dividends paid
Legal expenses
Receiver's salary and all other expenses
Balance in hands of Comptroller or receivers
Amount returned to shareholders in cash
Total
33,721,856
117,905,597
4,378,466
7,765,550
27,796
2,875,526
4,830,817
17,327,572
611,656
966,277
996,106
156,512
38,552,673
135,233,169
4,990,122
8,731,827
1,023,902
3,032,038
166,674,791
24,888,940
191,563,731
Capital stock at date of failure
Bonds at failure
Amount realized from sale of bonds
Circulation outstanding at failure
Amount of assessment upon shareholders
Claims proved
^
6 6,460,000
70,105,920
25,078,400
26,016,133
22,415,209
40,714,790
154,741,488
7,805,000
3,020,000
2,648,714
3,893,463
4,817,450
25,690,794
84,370,920
28,098,400
28,664,847
26,308,672
45,532,240
180,432,282
Total assets taken charge of by receivers
Disposition of assets:
Offsets allowed and settled
Loss on assets, compounded or sold under order of court..
Nominal value of assets returned to stockholders
Nominal value of reraaining assets.
Collected from assets
Total
Collected from assets as above
o
Collected from assessments upon shareholders
Total collections
a Includes 25 banks restored to solvency.
Total, 514.
b Capital stock of 25 banks restored to solvency.
With the exception of banks that have become insolvent as a
result of defalcations or other dishonesty, failures have been almost
wholly due to incompetent or recldess management and persistent
violations of the banking law and the practices governing conservative banking. As a matter of fact a large percentage of the banks
that have failed should have gone into voluntary liquidation before
they reached conditions precipitating failure.
I t is the present Comptroller's earnest purpose to get out of the
national banking system every bank which is managed in such a
careless, reckless, speculative, or incompetent manner as to endanger
the safety of its depositors. A bank that is the subject of constant
criticisms for persistent and flagrant violations of law and is managed
in such a recldess, careless, and incompetent manner as to necessitate
frequent examinations should go out of business and leave the field
to more competent and conservative bankers; that is, the bank
should go into voluntary liquidation as soon as it is demonstrated to
a reasonable certainty that it can not be continued successfully or the
officers and directors can not or will not manage its affairs in acQord9,nce with Uw and safe banking practices,
COMPTROLLER OF THE CURRENCY.
421
When an examiner finds a bank in a serious condition, his report
and conclusions based thereon are submitted to the ofl&cers and the
entire board of directors, with advice that one of the following courses
of procedure must be adopted:
l^irst. That the bank, in accordance with the suggestion submitted, will be immedia.tely placed in a satisfactory condition by the officers and directors in charge.
Second. That if the officers and directors in charge are unable to place the bank in
a satisfactory condition that it will be placed under an entirely new management.
Third. Where neither of the foregoing suggestions can be complied with the officers
and directors are urged to place the bank in voluntary liquidation, and if they refuse
to recommend that such action be taken by the shareholders, the condition of the
bank is brought to the attention of a representative committee of shareholders.
The advantages of voluntary liquidation, as stated to the oflicers,
dii'ectors, and committee of shareholders, are that depositors will be
paid in full; the shareholders will have an opportunity to save a part
of their original investment; the double liability on capital-stock
holdings will be averted, and the possibility of failure avoided.
The limited number of receiverships, as compared with the large
number of voluntary liquidations during the past year is due, in a
measure, to the action of the office through the examiners in securing
tho liquidation of certain banks, the ultimate failure of which was only
avoided by that course of procedure.
LAWRENCE O . MURRAY,
ComptroUer of the Currency.
The
SPEAKER OF THE H O U S E OF EEPRESENTATIVES.
REPORT OF THE REGISTER OF THE TREASURY.
TREASURY DEPARTMENT,
O F F I C E OF THE REGISTER,
Washington, D. C , August 8, 1910.
SIR: I have the honor to make the following report .of the business
transacted in this oflice during the fiscal year ended June 30, 1910:
The duties of the Register of the Treasury are thus defined: * * *
Signs and issues all bonds of the United States, including the Panama
Cg.nal loan, the District of Columbia, the sundry loans of the Philippine Islands and the City of Manila, and transmits to the Treasurer
of the United States schedules showing the name of every individual,
corporation, etc., holding registered bonds and entitled to i"eceive
interest thereon. He receives, examines, and registers coupon bonds
exchanged for registered bonds or redeemed, and registered bonds
transferred and finally redeemed. S e receives, examines, arranges,
and registers the upper halves of all redeemed United States notes,
gold certificates, silver certificates, and Treasury notes; fractional
currency notes, detached interest coupons, interest checks on registei'ed bonds, and all other United States securities redeemed and
destroyed. He is represented on the committee having in charge
the destruction, by maceration, of certain of the United States securities, etc., mentioned herein. Also all customs, internal-revenue,
and postage stamps condemned for imperfections- and destroyed.
He signs all the correspondence of the office. The work is performed
in two divisions, as follows:
D I V I S I O N O F LOANS.
This division has charge of the interest-bearing debt of the United
States. To this has been added the care of loans authorized by Congr(iss for the Panama Canal, the District of Columbia, the GovernWL(mt of the Philippine Islands, and the City of Manila.
.
The principal duties of this division are as follows: The receipt of
new coupon and registered bonds after they have been printed by
th^ Bureau of Engraving and Printing, together with the custody of
tho same; the preparation of registered and coupon bonds for issue,
including the inscription of the names of the owners on registered
bonds, and signing the same; writing the letter which accompanies
ea(3h package or lot; preparing the receipt to be signed by consignees,
and delivering the bonds for transmittal. Full records are kept,
first, of all issues of bonds; second, of the transfer of registered
bonds from one owner to another, and third, of canceled bonds
which have been either purchased or refunded, or have been
redeemed at maturity. Accounts in detail are opened with each
holder of registered bonds,
423
424
REPORT ON THE FINANCES.
The assignments of all registered bonds, whether presented for
transfer to other parties or for redemption, are carefully examined.
The assignments of much the larger part of the values involved are
made by attorneys, executors, administrators, guardians, and representatives of banks and other corporations, and it is necessary that
the papers showing the authority of such agents shall be examined,
indexed, and filed for instant reference. In every such transaction
it is also necessary to see that the powers exercised by the attorney
or representative are included among those granted by his principal.
Quarterly schedules are prepared for the payment of interest on all
United States registered bonds, including those of the Panama Canal
loans, on the four Philippine issues, and on the three issues of City
of Manila sewer and water bonds. The schedules on the 3.65 per
cent bonds of the District of Columbia are prepared semiannually.
The schedules show the amount of registered bonds standing in the
name of every owner at the date of the dividend on each loan, the
amount due at each date of payment, together with the address to
which the Treasurer of the United States is to forward checks for
interest.
I t has always been the practice to have the interest schedules
printed quarterly or semiannually, as might be necessary. I n consequence the Public Printer wtis compelled to keep a great many
heavy forms of type standing from year to year, and the question of
cost of printing became a serious one. Some months since it was
deemed oest to consider a change in the method of declaring dividends, or rather in the method of preparing schedules for certification to the Treasurer of the United States. The checks for interest
on all United States and other registered bonds dealt with by this
oflGice are drawn by the Treasurer of the United States.
Heretofore it has been the custom to certify to the Treasurer the
printed schedules mentioned above, containing the name, post-office
address, amount of principal, and interest in each case. There are
at present thirteen loans held in charge by this office, and in consequence twelve schedules were printed four times a year, and one
(District of Columbia 3.65 per cent) twice a year. The problem
given this oflGice and that of the Treasurer of the United States was
to devise a method by which the checks could be drawn and the
rinted schedules be eliminated from the transaction. The problem
as been successfully solved. The card system has been resorted to,
and now, instead of certifying entire schedules as heretofore, only
changes in accounts are now certified, and as the Treasurer's cards
and those of this office are precisely identical as to name, address,
and amount of interest due each payee, the new system works
smoothly, expeditiously, and accurately, and there is no delay in
either office in the preparation of the checks for distribution at the
proper interest periods.
Aside from enminating the cost of printing, the new arrangement
is highly satisfactory to this office, as it enables it to at all times
know where the bonds are located. The following analytical table
shows how the bonds of all the loans are held, and also shows the
amounts held by national banks in the various States to secure circulation and deposits. This table is interesting, owing to the fact
that neyer before has it been possible to give an analysis of this
character.
E
SUMMARY OF B O N D S D E P O S I T E D BY NATIONAL B A N K S OP THE VARIOUS STATES, E T C , WITH THE T R E A S U R E R OF THE U N I T E D STATES TO S E C U R E
P h i l i p p i n e I s l a n d s Loans.
U n i t e d States L o a n s .
state etc
P a n a m a Canal L o a n District
of—
of Columbia L o a n ,
L o a n of
L o a n of
Consols of
3.65 p e r
1908-1918,
1925,
1930,
cent.
1914-1934,
2 p e r c e n t . 3 p e r c e n t . 4 p e r cent. 1906-1936,
land p u r 1908-1938,
chase, 4
2 p e r cent. 2 p e r c e n t .
percent.
City of Manila, Sewer a n d
Water>Loan of—
P h i l i p p i n e L o a n of—
Total
1915-1935,
public
improvements, 4
p e r cent.
1916-1936,
public
improvements, 4
p e r cent.
1919-1939,
p u b l i c 1915-1935, 1917-1937, 1918-1938,
4 per
improve4 per
4 per
ments, 4
cent.
cent.
cent.
per cent.
l—t
Ui
Alabama
Alaska T e r r i t o r y
Arizona T e r r i t o r y
Arkansas
California
Colorado
Connecticut..
Delaware.
District of C o l u m b i a . .
Florida
Georgia
Hawaii Territory
Idaho
"
.'...
Illinois
Indiana
Iowa
Kansas
Kentucky
:...
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
NewJersey
$6,421,750
S166,000
25,000
137,500
924,000
25,000
2,039,250
7,500
31,667,500 1,013,000
100,760
8,921,500
11,039,350
200,000
1,429,000
50,000
4,875,300
2,200
3,901,000
27,000
333,000
8,574,500
529,650
1,895,050
56,000
37,301,050 1,024,800
881,340
20,945,450
359,360
16,385,500
137,940
9,971,650
529,800
15,527,300
5,384,750
5,404,400
150,000
435,500
10,405,300
986,800
24,840,700
150,760
10,088,550
31,500
13,549,600
15,000
2,722,000
383,740
25,687,400
225,000
3,109,950
.295,020
10,083,150
1,'637,250
4,463,500
69,000
14,179,800 1 168,500
$50,000
50,000
$847,500
50,000
10,000
625,000
50,000
375,000
324,260
2,319,200
292,500
1,215,500
77,500
225,000
915,500
1,118,500
300,000
10,000
751,400
583,700
63,000
117,500
511,600
350,000
472,500
1,152,000
233,000
175,000
307,800
439,000
170,000
30,700
2,974,560
1,261,320
478,020
456,020
429,500
623,500
12,500
1,630,500
2,399,500
577,000
687,700
414,000
2,696,760
188,000
832,500
427,000
640,020
$154,000
56,260
55,000
2,429,000
90,000
716,000
350,000
159,240
295,500
12,500
2,645,400
315,340
653,060
48,500
138,000
$60,000
$100,000
$40,000
.
90,000
300,000
225,000
27,000
$31,000
2,000
122,000
220,000
201,000
55,000
65,000
30,000
65,000
115,000
130,000
45,000
540,000'
60,000
5,000
$44,000
46,000
50,000
$3,000
60,000
$125,000
30,000
50,000
$50,000
15,000
100,000
05,000
220,000
210,000
68,000
561,000
1,209,500
465,000
1,337,960
75,000
857,000
129,000365,200
18,760
1,000
565,000
30,666
77,000
23,000
... .
15,000
40,000
39,000
120,000
50,000
65,000
30,000
25,000
60,000
20,666
40,000
.
$7,639,250
262,500
1,005,260
2,436,010
38,253,700
9,454i 760
13,635,850
1,574,500
6,458,500
5,069,740
10,815,500
529,650
2,004,250
45,591,210
24,248,150
18,048,940
10,731,610
17,247,200
6,218,250
6,064,900
13,549,800
30,768,500
11,744,310
15,866,760
3,226,000
30,091,700
3,651,950
11,625,930
1,656,010
5,529,500
15,833,320
Hi
Hi
>
ut
H4
on
SUMMARY OF B O N D S D E P O S I T E D BY NATIONAL B A N K S OF THE V A R I O U S STATES, E T C WITH T H E T R E A S U R E R OF T H E U N I T E D STATES TO S E C U R E
CIRCULATING N O T E S AND DEPOSITS— •Continued.
Philippine Islands Loans.
U n i t e d States L o a n s .
state etc
•o
P a n a m a Canal L o a n District
City of Manila, Sewer a n d
P h i l i p p i n e L o a n of—
W a t e r L o a n of—
of—
of Columbia Loan,
L o a n of
L o a n of
Consols of
3.65 p e r
1908-1918,
1930,
1925,
cent.
1914-1934, 1915-1935, 1916-1936, 1919-1939,
2 p e r c e n t . 3 p e r cent. 4 p e r cent.
publi
publi
p l c
land p u r - i m u boiv e - i m p r o vc - i m p r o vc - 1915-1935, 1917-1937, 1918-1938,
1906-1936, 1908-1938,
4 per
pr
4 per
4 ner
chase, 4 m e n t s , 4 m e n t s , e4 m e n t s , e4
2 p e r cent. 2 p e r cent.
cent.
cent.
cent.
cent.
p e r c e n t . p e r cent. p e r cent.
Total.
c
N e w Mexico Territory
New York . . .
N o r t h Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Porto Rico
R h o d e Island
S o u t h Carolina
:
South Dakota
Tennessee
Texas
:.
Utah.
Vermont
Virginia
Washington
W e s t Virginia
Wisconsin
Wyoming
Total
$1,685,850
70,832,050
5,578,750
3,255,800
37,435,100
6,489,950
4,689,600
75,616,200
300,000
3,567,500
3,248,750
2,834,550
8,070,050
26,097,250
2,455,750
4,460,500
7,632,250
6,490,500
7,035,100
11,203,250
1,313,550
$500
1,797,000 $2,878,600
50,000
367,760
8,750
1,472,700 4,760,500
200,000
128,500
161,000
511,000
3,300,400 4,718,000
551,000
50,000
94,000
967,100
;o,ooo
11,000
1,123,400
109,600
245,000
295,320
55,800
32,500
112,000
137,566
1,079,600
100,000
23,800
105,000
25,000
$227,400
9,696,200 $6,487,000
106,000
533,000
134,760
281,240
1,953,940. 1,511,540
132,460
698,420
52,520
197,500
1,397,440
5,053,220
736,000
46,500
925,500
176,740
124,260
392,500
1,369,760
1,988,620 1,197,940
60,000
50,000
145,000
250,000
365,000
3,042,260
848,260 1,543,000
156,500
674,000
914,260 • 773,000
35,000
283,700
$10,000
$338,000
$25,000
$200,000
$75,000
$200,000
$105,000
67,000
46,000
125,000
59,000
17,000
50,000
5,000
20,000
375,000
125,000
50,000
25,000
50,000
15,000
50,000
260,000
100,000
123,000
50,000
10,000
22,000
28,000
100,000
35,000
25,000
15;000
25,000
25,000
176,000
604,334,950 18,589,600 21,538,750 53,992,100 28,483,180 1,247,000 2,595,000
$22,000
716,000
621,000
371,000
75,000
600,000
689,000 1,648,000
•
66,000
$1,913,750
92,538,850
6,740,510
3,680,550
47,372,780
7,669,330
5,611,620
90,715,260
300,000
4,904,500
4,235,750
3,335,550
10,275,810
30,512,910
2,575,750
5,004,000
13,515,510
9,141,360
8,410,400
13,890,830
1,713,050
734,891,580
o
o
Ul
SUMMARY OF B O N D S H E L D BY ASSOCIATIONS, CORPORATIONS, INSTITUTIONS, INDIVIDUALS,
United States Loans.
ETC
Philippine Islands Loans.
City of Manila, Sewer a n d
P h i l i p p i n e L o a n of—
District
W a t e r L o a n of—
of Columbia Loan,
L o a n of
Consols of L o a n of
3.65 p e r
1914^1934, 1915-1935, 1916-1936, 1919-1939,
1908-1918,
1925,
1930,
cent.
public
p u b l i c 1915-1935,
public
land
2 p e r cent. 3 p e r c e n t . 4 p e r c e n t . 190&-1936, 1908-1938,
1917-1937,
p u r c h a s e , i m p r o v e - i m p r o v e - i m p r o v e - 4 p e r cent. 4 p e r c e n t . 1918-1938,
2 p e r c e n t . 2 p e r cent.
4 p e r cent.
ments,
ments,
4 p e r cent. m e n t s ,
4 p e r cent. 4 p e r cent. 4 p e r cent.
P a n a m a Canal
L o a n of—
Held b y -
Total
o.
Associations, e t c . :
$367,650
Associations.
860,750
Ba-nks—Miscellaneous....
Banks—National
1,643,350
Banks—Savings
Boards
Cemeteries
Churches
Commissions
485,000
Companies.
^.. 1,665,950
Corporations
97,500
Councils
Funds..:
600
Halls
Homes
Institutions
500,000
LodgeSi
573,500
Miscellaneous
Offices
Receivers
Schools
50,000
Secretaries . .
.
.
Societies
4,024,000
S u p e r i n t e n d e n t s of b a n k s
62,000
S u p e r i n t e n d e n t s of insur-.
720,000
ance. .
Treasurers
317,500
T r e a s u r e r of t h e U n i t e d
States—Contracts......
112,300
Total
Individuals
$98,820
107,800
514,560
125,560
1,080
1,420
40,300
512,760
3,500
23,700
5,300
7,500
274,040
57,120
$470,800
123,000
773,650
8,857,600
23,950
1,500
13,000
45,000
7,334,750
10,000
. 195,000
46,000
21,000
30,000
1,600,000
413,750
1,560
9,930,000
28,000
60,000
54,000
2,171,000
936,100
18,960
44,000
3,000
$5,000
10,000
500,300
25,000
$10,000
$980,000
301,000
123,000
1,268,000
245,000
$1,000
20,000
$45,000
$30,000
298,000
446,000
234,666
20,000
216,000
161,000
24,000
$50,000
$25,000
10,000
'
200,000
100,000
5,000
2,129,720
32,000
$194,580
13,350
1,650,000
1,000
80,000
1,176,000
•220,000
$952,270
$10,000 1,142,550
5,289,440
9,309,160
23,950
2,580
14,420
737,300
496,000 12,196,460
111,000
195,000
70,300
21,000
35,300
2,268,500
1,295,290
57,120
200,000
100,000
6,560
50,000
17,733,720
123,000
1
i
Ul
d.
4,127,000
1,657,600
50,000
154,610
10,000
4,069,700 33,342,450
322,580
540,300 5,913,000
255,000
65,000
554,000
50,000
. 25,000
506,000 57,874,130
25,581,900 19,281,320 43,154,700
285,820
534,040 1,829,000 3,654,000 1,529,000
314,000
575,000
261,000
327,000
428,000 97,754,780
11,480,100
751,000
to
CONSOLIDATED SUMMARY, BY CLASSES'.
United States Loans.
to
oo
Philippine Islands Loans.
P a n a m a Canal
L o a n of—
Recapitulation.
City of Manila, Sewer a n d
P h i l i p p i n e L o a n of—
District
W a t e r L o a n of—
of Columbia L o a n ,
L o a n of
L o a n of
Consols of
3.65 p e r
1908-1918,
1925,
1930,
cent.
1914H934, 1915-1935, 191&-1936, 1919-1939,
public
public
public
2 p e r c e n t . 3 p e r c e n t . 4 p e r cent. 1906-1936, 1908-1938,
land
1915-1935, 1917-1937, 1918-1938,
2 per cent. 2 per cent.
p u r c h a s e , i m p r o v e - i m p r o v e - i m p r o v e - 4 p e r cent. 4 p e r cent. 4 p e r cent.
ments,
ments,
4 p e r cent. m e n t s ,
4 p e r cent. 4 p e r c e n t . 4 p e r cent.
T r e a s u r e r of t h e
United States
in t r u s t
$604,334,950 $18,589,600. $21,538,750 $53,992,100 $28,483,180 $1,247,000 $2,595,000 $716,000
322,580
540,300 5,913,000
751,000
4,069,700 33,342,450
255,000
Associations, e t c . 11,480,100
285,820
534,040 1,829,000 3,654,000 1,529,000
25,581,900 19,281,320 43,154,700
Individuals
Total
641,396,950
41,940,620
98,035,900
54,600,500
29,557,520
8,989,000
Total
o
$621,000
65,000
314,000
$371,000
554,000
575,000
$689,000 $1,648,000
25,000
50,000
327,000
261,000
7,000,000 2,500,000 1,000,000 1,500,000 1,000,000
$66,000 $734,891,580
506,000
57,874,130
428,000
97,754,780
2,000,000 1,000,000
890,520,490
pi
B
^•
W
o
fel
ZP
REGISTER OF T H E
429
TREASUKY.
The following table shows the number and amount of new bonds
prBpared by the Bureau of Engraving and Printing which were
received during the year:
NEW
B O N D S R E C E I V E D D U R I N G THE Y E A R ENDED J U N E 30,
$100.
Loan.
$500.
$1,000.
1,000
1,000
1910.
Total, all
$5,000. $10,000. denominations.
2.000
3,000
8,000
Amount.
REGISTERED.
Lojin'of 1908-1918, 3 p e r cent
LoEin'of 1925, 4 p e r cent
Consols of 1930, 2 p e r cent
P h i l i p p i n e loan of 1919-1939, p u b l i c imp r o v e m e n t s , 4 p e r cent, t h i r d series
2,000
6,000
.4,000
6,000
16,000
7,000
7,000,000
3,000
8,000
33,000
115,600,000
7,000
1,000
Total
1,000
2,000
1,000
20,000
$2,600,000
28,000,000
78,000,000
The following tables show the number and amount of bonds issued
and canceled during the year: ,
N I MBER AND A M O U N T OF BONDS IsSUED DURING THE Y E A R ENDED JuNE 30, 1910.
Loan.
Class.
Numberof
bonds.
Direct
issues.
Exchanges.
Transfers.
Total
amount.
L o a n of 1908-1918, 3 per cent
R e g i s t e r e d . . 4,383
$1,295,100 $12,997,900 $14,293,000
. ..do
4,186
1,145,250 15,040,950 16,186,200
L o a n of 1925, 4 p e r cent
Consols of 1930, 2 p e r cent
do
13,628.
280,600 60,488,500 60,769,100
P a n a m a Canal loan, 2 p e r cent, se,..;.do
ri es of 1906
4,279
520 12,916,180 12,916,700
P a n a m a Canal loan, 2 p e r cent, sedo
1,586
174,200
ri es of 1908
6,569,940
6,744,140
P h i l i p p i n e loan of 1914-1934, land
0
do
p u r c h a s e , 4 per cent
590
1,958,000
1,958,000
P h i l i p p i n e loan of 1915-1935, p u b lic i m p r o v e m e n t s , 4 p e r cent,
first series
do
180
720,000
720 000
P h i l i p p i n e loan of 1916-1936, p u b lic i m p r o v e m e n t s , 4 p e r cent,
siicond series
. do..
101
, 398,000
398,000
P h i l i p p i n e loan of 1919-1939, p u b lic i m p r o v e m e n t s , 4 p e r cent,
do
tliird series
.•
3,950 $1,500,000"
'2,450,000
3,950,000
a t J of Manila, sewer a n d w a t e r
loan of 1915-1935, 4 p e r cent, first
do.......
sories
104
446,000
446,000
CitT of Manila, sewer a n d w a t e r
loan of 1917-1937, 4 p e r cent, secQ'ld series
do..
120
426,000
426,000
CitT of Manila, sewer a n d water
loan of 1918-1938, 4 per cent, t h i r d
do
s(!ries
377
377,000
377,000
District of Columbia,
fifty-year
funded loan of 1924, 3.65 p e r c e n t . .
do
625
8,000
2,665,000
2,673,000
Total
34,109
1,500,000
•2,903,670 117,453,470 121,857,140
430
REPORT ON T H E FINANCES.
N U M B E R AND AMOUNT OF B O N D S CANCELED D U R I N G THE Y E A R ENDED J U N E 30,1910.
Loan.
Class.
Number of Redemptions.
bonds.
Ex- .
changes. •Transfers.
Total
amount.
fCoupon
4,339
$1,295,100
$1,295,100
. . . I R e g i s t e r e d . . . 5,746
$12,997,900 12,997,900
1,217
/Coupon
1,145,250
1,145,250
4,040
\Registered...
15,040,950 15,040,950
350
/Coupon
280,600
280,600
Consols of 1930, 2 per cent
\ R e g i s t e r e d . . . 12,083
60,488,500 60,488,500
P a n a m a Canal loan, 2 per cent. / C o u p o n .
10
520
520
series of 1906 '.
\ R e g i s t e r e d . . . 3,474
12,916,180 12,916,180
230
P a n a m a Canal loan, 2 per cent. / C o u p o n
174,200
174,200
1,366
\Registered...
series of 1908
6,569,940
6,569,940
590
P h i l i p p i n e loan of 1914-1934, land R e g i s t e r e d . . .
1,958,000
1,958,000
purchase, 4 per cent.
P h i l i p p i n e loan of 1915-1935, public
162
do
720,000
720,000
i m p r o v e m e n t s , 4 per cent, first
series.
P h i l i p p i n e loan of 1916-1936, public
110
do
398,000
398,000
i m p r o v e m e n t s , 4 per cent, second
series.
P h i l i p p i n e loan of 1919-1939, public
2,450
do..
2,450,000
2,450,000
i m p r o v e m e n t s , 4 per cent, t h i r d
series.
City of Manila, sewer a n d water
131
do!
446,000
446,000
loan of 1915-1935, 4 per cent, first
series.
City of Manila, sewer a n d w a t e r
426,000
84
do
426,000
loan of 1917-1937, 4 per cent, second series.
City of Manila, sewer a n d water
377,000
377
do
377,000
loan of 1918-1938, 4 per cent, t h i r d
series.
$2,350
8.000
District of Columbia,
fifty-year / C o u p o n
10,350
45
619,000
funded loan of 1924, 3.65 per cent
3,284,000
• 2,665,000
752
\Registered...
50
Consols of 1865, 6 per cent
50
1
Coupon
400
Consols of 1867, 6 per cent
400
4
.....do
do
200
Consols of 1868, 6 per cent
200
2
200
do
...
F u n d e d loan of 1881, 5 per cent
200
2
fCoupon
:
26,300
26,300
L o a n of 1904, 5 per cent
29
\Regis t e r e d . . .
• 200
2
/Coupon..
332,700
332,700
772
F u n d e d loan of 1907, 4 per cent
\Registered...
373,700
373,700
236
38,604 1,355,100 2,903,670 117,453,470 121,712,240
Total
L o a n of 1908-1918, 3 per cent
•
0
N U M B E R AND AMOUNT OF B O N D S , IN SUMMARY F O R M , I S S U E D AND CANCELED, AND
THE TOTAL N U M B E R AND AMOUNT H A N D L E D D U R I N G THE L A S T T E N Y E A R S .
Bonds issued. .
B o n d s canceled.
Total handled.
Year.
Number.
1900-1901
1901-2.
1902-3
1903-4
1904-5
1905-6
1906-7
1907-8
1908-9.
1909-10..
:
Total
Amount.
Number.
Amount..
Number.
Amount.
105,149
31,067
52,907
42,786
43,728
50,747
44,337
38,03(3
39,351
34,109
$648,324,020
117,240,530
254,181,790
179,301,650
173,485,790
241,493,540
229,976,440
199,844,050
170,470,090
121,857,140
149,523
72,547
98,803
78,233
48,410
87,318
91,301
92,150
58,307
38,604
$702,872,960
174,881,270
270,142,440
192,646,900
171,151,740
241,188,640
223,128,690
192,320,670
• 163,317,190
121,712,240
254,672
103,614
151,710
121,019
92,138
138,065
135,638
130,186
97,658
72,713
$1,351,196', 980
292,121,800
524,324.230
371,948,550
344,637,530
482,682,180
453,105,130
392,164,720
333,787,280
243,569,380
482,217
2,336,175,040
815,196
2,453,362,740
1,297,413
4,789,537,780
431
REGISTER OF T H E TREASURY.
PHILIPPINE ISLANDS AND CITY OF MANILA BONDS.
On August 1, 1909, a third series of bonds of the Philippine Islands
on account of public improvements, amounting to $1,500,000, was
issued. These bonds are redeemable after August 1;, 1919, and payable August 1, 1939.
There are now seven issues of bonds on account of the Philippine
Islands, viz:
Pb.ilippine loan, land purchase
Ph.ilippine loan, public improvements, three series.
Ci1;y of Manila, sewer and water loan, three series
. . . « . . . $ ? , 000,000
5,000,000
4, 000,000
TotaL
16,000,000
As stated in my previous report, by an arrangement entered into
between the Secretary of the Treasury and the Secretary of War, the
issues and transfers of the bonds of the Philippine Islands and the
City of Manila, under the act of Congress of July 1, 1902, are all made
by this office and the records are kept here.-^
The following table shows the principal facts in regard to the
scliedules prepared in this division during thelast fiscal year whereby
th3 Treasurer of the United States was authorized to draw checks
fo]* the payment of interest on registered bonds on the loans of the
United States, the Panama Canal, the Philippine Islands, and the
District of Columbia:
D I V I D E N D S OF I N T E R E S T P R E P A R E D ON R E G I S T E R E D B O N D S .
1909.
Aug:.
Oct.
Nov.
Dec.
19].0.
Jan.
Loan of 1908-1918, 3 per cent
Loan of 1925, 4 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Philippine loan of 1914-1934, land purchase, 4 per cent....
Philippine loan of 1916-1936, i)ublic improvements, 4 per
cent, second series
District of Columbia, fifty-year funded loan of 1924, 3.65
per cent
Philippine loan of 1915-1935, public improvements, 4 per
cent, first series
:
City of Manila, sewer and water loan of 1915-1935, 4 per
cent, first series
Consols of 1930, 2 per cent
,
City of Manila, sewer and water loan of 1917-1937,. 4 per
cent, second series
City of Manila, sewer and water loan of 1918-1938, 4 per
cent, third series
Loan of 1908-1918, 3 per cent
Loan of 1925, 4 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Philippine loan of 1914-1934, land purchase, 4 per cent
Philippine loan of 1916-1936, public improvements, 4 per
cent, second series.
Philippine loan of 1919-1939, public improvements, 4 per
cent, third series
,
Philippine loan of 1915-1935, public improvements, 4 per
cent, first series
City of Manila, sewer and water loan of 1915-1935, 4 per
cent, first series....'
14,843
4,153
967
434
433
49
1,000,000
Consols of 1930, 2 per cent
City of Manila, sewer and water loan of 1917-1937, 4 per
cent, second series
City of Manila, sewer and water loan of 1918-1938, 4 per
cent, tliird series
,
,.,.,
10,138
6141,188,200
$41,159,540
97,370,800
54,600,480
29,403,320
7,000,000
$308,696.55
973,708.00
273,002.40
147,016.60
70,000.00
27
1,000,000
10,000.00
247
9,598,000
175,163.50
129
2,500,000
25,000.00
52
10,201
1,000,000
641,163,850
10,000.00
3,205,819.25
27
2,000,000
20,000.00
31
14,677
4,134
987
437
437
1,000,000
41,344,780
97,423,900
54,600,480
29,403,320
7,000,000
10,000.00
310,085.85
974,239.00
273,002. 40
147,016.60
70,000.00
28.
1,000,000
34
1,500,000
130
- 2,500,000
10,000.00
15,000.00
25,000.00
• 10,000.00
25
2,000,000
34
1,000,000
3,205,941.00
20,000.00
10,000.00
432
REPORT ON T H E FINANCES.
DIVIDENDS OF I N T E R E S T P R E P A R E D ON R E G I S T E R E D BONDS—Continued.
Date
payable.
1910.
Feb.
Mar.
Apr.
May
1
1
1
1
1
1
1
June
1
1
Number Amount of
of checks. principal.
Loan.
Loan of 1908-1918, 3 per cent
Loan of 1925, 4 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Philippine loan of 1914-1934, land purchase, 4 per cent
Philippine loan of 1916-1936, public improvements, 4 per
cent, second series
Philippine loan of 1919-1939, public improvements, 4 per
cent, third series
District of Columbia, fifty-year funded loan of 1924, 3.65
per cent
Philippine loan of 1915-1935, public improvements, 4 per
cent, first series
City of Manila, sewer and water loan of 1915-1935, 4 per
cent, first series
Consols of 1930, 2 per cent
City of Manila, sewer and water loan of 1917-1937, 4 per
cent, second series
City of Manila, sewer and water loan of 1918-1938, 4 per
cent, third series
,
Loan.of 1908-1918,3 per cent
Loan of 1925, 4 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Philippine loan of 1914^1934, land purchase, 4 per cent....
Philippine loan of 1916-1936, public improvements, 4 per
cent, second series
Philippine loan of 1919-1939, public improvements, 4 per
cent, third series
Philippine loan of 1915-1935, public improvements, 4 per
cent, first series
•...
City of Manila, sewer and water loan of 1915-1935, 4 per
cent, first series
,
Total
14,500 $41,564,800
97,428,900
4,130
54,600,500
1,003
443 29,452,520
7,000,000
441
Amount of
interest.
$311,736.00
974, 289.00
273,002.50
147, 262.60
70,000.00
32
1,000,000
70
1,500,000
15,000.00
8,989,000
164, 049.25
133
2,500,000
25,000.00
46
10,111
1,000,000
641,383,050
10 000.00
3,206,915.25
10,000.00
31
2,000,000
20,000.00
40
14,313
4,186
1,021
456
438
1,000,000
41,940,620
98,035,900
54,600,500
29,557,520
7,000,000
10, 000.00
314, 554.65
980, 359.00
273, 002.50
147; 787.60
70, 000.00
36
1,000,000
10,000.00
1,500,000
•119
15,000.00
2,500,000
25,000.00
34 • 1,000,000
114,559
10,000.00
17,381,649.50
The following summary of dividends declared by this division
during the last ten years shows that during that period the Treasurer
of' the United States has been authorized by this ofiice to draw
1,808,081 checks for the payment of interest, amounting to
$206,156,685.24i, exclusive of checks drawn in prepayment of
interest:
N U M B E R AND AMOUNT OF I N T E R E S T
CHECKS DECLARED D U R I N G THE L A S T
YEARS. •
Numberof
checks.
Year.
1900-1901
1901-2
1902-3
1903-4
1904-5
1905-6
1906-7
1907-8..1908-9 .
1909-10
:
;
Total
•
: -. ^
.
..:
TEN
Amount payable.
249,136
232,603
220,278
203,105
195,861
184,263
156,025
126,661
125,590
114,559
$25,713,756.47^
23,301,615.72
19,323,870.40
21,091,301.65
21,047,761.45
20,868,921.25
17,604,221.45
19,603,046.35
20,220,541.00
17,381,649.50
1,808,081
206,156,685.24^
Interest was prepaid on registered bonds of various loans during
the fiscal years 1899-1900, 1902-3, and 1906-7, and in order to
ascertain th^ ^otal amoimt pf interest paid on registered bonds it i^
REGISTER OF T H E TREASURY.
433
necessary to add the amounts of such prepayments to those given in
t]ie above table. The prepayments were made by the Treasurer of
tlie United States on presentation of the bonds and such fact stamped
on the bonds. Schedules were then prepared in this office which ^
gave in detail a description of the bonds on which interest had been
prepaid.
The following table shows the number and amount of unissued
bonds of each loan; class, and denomination, on hand June 30, 1910:
65872°—FI 1910
28
U N I S S U E D B O N D S ON H A N D IN THE OFFICE OP T H E R E G I S T E R OF THE T R E A S U R Y AT THE CLOSE OF B U S I N E S S J U N E 30,
Class.
Loan.
fCoupon
\Registered..
Registered .
fCounon
Consols of 1930, 2 per cent
\Registered;.
•
* /Coupon
Panama Canal loan, 2 per cent, series of-1906
\Registered..
/Coupon
Panama Canal loan, 2 per cent, series of 1908
\Registered..
Philippine loan of 1914r-1934, land purchase, 4 per cent
Registered
Philippine loan of 1915-1935, public improvements, 4 per cent, first series.. . ..do
do
Phihppine loan of 1916-1936, pubhc improvements, 4 per cent, second series
do
Phihppineloanof 1919—1939 pubhc improvements 4 per cent third series
do
City of Manila, sewer and water loan of 1915-1935,4 per cent, first series
do
City ofManila sewer and water loan of 1917—1937 4 per cent, second series
do
City of Manila, sewer and water loan of 1918-1938,4 per cent, third series..
do
Certificates of indebtedness, act of June 13,1898, 3 per cent
/Coupon .
1 Rppistered
District of Columbia, fifty-year funded loan of 1924, 3.65 per cent
Registe r e d
Spanish indemnity certificates
.
.
(blanks).
Loan of 1908-1918. 3 per cent
Loan of 1925, 4 per cent
Total
'
S20.
40
8,285
$100.
$50.
8,550
500
989
331
439
281
849
9
10,225
10,048
S500.
17
1,611
2,494
2
2,983
903
1,050
124
3,002
137
692
1,692
280
2,276
::::::::
12,186
82
5,159
Total
S1,000. $5,000. $10,000. $50,000. number
of bonds.
. 80
2,197
2,338
4,854
5,585
7,552
4,044
2,460
1,246
243
1,997
1,701
3,050
.964
. 2,717
1,592
1,039
4,261
1,229
2,385
19,210
2,456
6,161
2,604
4,190
2,995
938
1,306
249
1,570
1,213
367
2,180
44,026
10,055
42,892
1910.
Amount.
274
$151,000
36,256 216,27^,800
18,759 34,565,900
5,636
5,019,200
1,031
21,410
8,786
7,648,920
8,137
30,197,780
2,865
2,478,020
. 9,287 43,463,180
3,238 30,193,000
2,935
11,377,000
3,007
14,761,000
3,050
3,050,000
1,213
3,454,000
4,287 18,417,000
1,592
1,592,000
756
3,008 50,969,000
91
41,450
11,267,000
2,547
424
1,787
136,802
oo
o
§
617,076,000
a
Ul
435
REGISTER OF T H E TREASURY.
On July 21, 1909, by direction of the Secretary of the Treasury,
eleven bonds of the different denominations and loans connected
with the Philippine Islands were canceled and delivered to the Secretaiy of War for use as specimens in the Bureau of Insular Affairs.
SUMMARY STATEMENT SHOWING DISPOSITION OF B O N D S .
Number.
137,922
33,000
SPANISH I N D E M N I T Y
121,857,140
56,000
617,076,000
170,922
...'.
738,989,140
34,109
11
136,802
Total
Bonds issued during the fiscal year 1909-10
Bonds delivered to the War Department as specimens
Bonds on hand at the clbse of business June 30,1910...
$623,389,140
115,600,000
170,922
Bonds on hand,at the close of business June 30,1909...
Bonis received'during the fiscal year 1909-10
Total
Value.
738,989,140
CERTIFICATES.
Under the treaty of February 17, 1834, the sum of $599,850.16 was
awarded to certain citizens of the United States as due from the
Kingdom of Spain, and at periods of about a year apart the sum of
$28,500 has been received during many years from Spain and divided
pro rata among the holders of this stock.
Early in 1908 the sum of $570,000 was received from the Spanish
Goviernment in liquidation of the debt, and the holders of the certificates agreed to receive this amount to be divided pro rata among
them in full payment.
At the present time certificates representing a nominal value of
$595,629.95 have been received for payment, the proportional allotment for which was $565,989.80. There remain eight unsettled
accounts of this indebtedness.
PACKAGES R E C E I V E D AND SENT.
During the fiscal year this office received by registered mail 2,062
paclcages, containing bonds to the amount of $24,889,030. I t sent
out by registered mail 3,252 packages, containing bonds amounting
to $35,132,317. This does not represent the volume of work performed by the division, as a great number of cases, aggregating millions, are left at the office for transfer by individuals and attorneys
in pisrson, to say nothing of the large number of cases delivered by
the Treasurer of the United States and the Comptroller of the Currency.
DIVISION OF NOTES, COUPONS, AND CURRENCY.
This division receives, counts, arranges, registers, examines, and
files for future reference all redeemed, exchanged, and transferred
coupon bonds, paid coupons, interest checks, and all United States
interest-bearing securities, such as Treasury notes, 7-30 notes, and
compound-interest notes, and gold and other certificates payable to
ordc]'. I t also raakes the final count and examination of the upper
halves of all redeemed United States currency prior to its final destruction. This division represents the Register on the various committees
436
REPORT ON T H E FINANCES.
having in charge the examination and counting of customs, internalrevenue, and postage stamps condemned for imperfections, burnt and
mutilated notes sent in for exchange and redemption, and witnessing
the final destruction of the above by the process of maceration.
COUPON
BONDS.
During the year there were received, counted, entered in blotters,
transferred to numerical registers, examined, ^and scheduled 12,682
coupon bonds, with 377,578 coupons attached, amounting to $5,79.6,970, which, added to the coupon bonds on file at the beginning of the
year, give an aggregate of 2,611,403 coupon bonds, with 96,737,546
coupons attached, amounting to $1,490,638,670, filed in this division
at the close of the fiscal year ended June 30, 1910.
At intervals within the year some time was profitably employed in
the examination of entries of 73,750 bonds to properly note the numbers and denominations of 440,023 coupons of corresponding numbers
detached from the bonds before issue.
COUPON B O N D S R E C E I V E D , COUNTED, E N T E R E D IN BLOTTERS, T R A N S F E R R E D
NUMERICAL REGISTERS, EXAMINED, AND SCHEDULED DURING THE Y E A R .
TO
Number/Number
of
of bonds. coupons Amount.
attached.
'^
UNITED STATES LOANS.
Oregon war debt, 6 per cent, redemptions
Ten-forties of 1864, 5 per cent, redemptions
1
Consols of 1865, 6 per cent, secop.d series, redemptions
Consols of. 1867, 6 per cent, third series, redemptions
Consols of 1868, 6 per cent, fourth series, redemptions
Funded loan of 1881, 5 per cent, redemptions
Funded loan of 1891, 4J per cent, redemptions
Funded loan of 1907, 4 per cent, redemptions
Loan of 1904, 5 per cent, redemptions
, -.
Loan of 1925, 4 per cent, exchanges
Loan of 1908-1918, 3 per cent, exchanges
Consols of 1930, 2 per cent, exchanges
Panama Canal loan, 2 per cent, series of 1906, exchanges..
Panama Canal loan, 2 per cent, series of 1908, exchanges..
3
2
1
1
3
5
1
4,230
30
1,373
4,708
333
6
719
15
47
20
16
117
44
4
12,689
1
82,740
166,888
27,087
657
85,032
$250
200
50
_ 500
700
5,000
50
1,455,900
27,300
1,292,700
1,202,100
267,750
520
615,500
DISTRICT OF COLUMBIA LOANS.
Ten-year loan (Bowen), 6 per cent, redemptions
Permanent improvement loan, 6 per cent, redemptions...
Water-stock loan, 7 per cent, redemptions
:
Twenty-year funded loan of 1892, 6 per cent, redemptions.
Thirty-year funded loan of 1902, 6 per cent, redemptions..
Fifty-year funded loan of 1924, 3.65 per cent, exchanges...
Fifty-year funded loan of 1924, 3.65 per cent, redemptions.
Total
1
14
343
9
847
12
41
556
364
1,266
50
3,100
343,000
1,350
571,100
. 6,000
3,850
12,682
377,578
5,796,970
35
437
REGISTER OF T H E TREASURY.
EXCHANGED, R E D E E M E D ,
AND T R A N S F E R R E D COUPON B O N D S ON F I L E IN THIS
DIVISION J U N E 30, 1910.
Loan.
Number of
bonds.
Number of
coupons
attached.
126
' 147
10
4,678
3
93,298
813
1,309
2,019
1,061
29,811
77,390
1,123
398
293,063
459,338
51,225
385,290
106,586
516,343
69,172
90,749
366,821
24,396
550
719
152
117
10
7,403
15
134,650
15,317
22,632
28,755
14,680
44,275
3,441,587
20,110
8,196
4,188,638
7,515,087
922,149
1,317,153
2,073,914
35,675,020
1,489,161
9,621,497
26,344,260
2,596,591
65,106
85,032
$136,000
147,000
10,000
4,678,000
250
64,181,300
194,450
385,150
769,800
377,300
21,549,950
52,868,150
502,050
256,800
142,609,050
220,135,850
22,742,400
305,167,900
84,600,500
234,384,350
63,294,900
84,465,450
148,157,620
23,113,650
429,600
615,500
1,549
10,244
423
116
3,875
987
1,264
13,838
1,067
5
44,228
2,518
231
, 18,256
4,975
4,391
1,014,260
16,227
278,900
3,995,000
423,000
50,000
1,150,000
660,000
670,000
5,056,000
983,300
2,500
U N I T E D STATES LOANS.
Loan of 1848, 6 per cent
Loan of 1858, 5 per cent.:
Lorn of 1860, 5 per cent
Lorn of February, 1861, 6 per cent
Or(;gon war debt, 6 per cent
Loan of July and August, 1861, 6 per cent
Fi"\^e-twenties of 1862, 6 per cent, first series
Fi^•e-twenties of 1862, 6 per cent, second series.
Fi\e-twenties of 1862, 6 per cent, third series...
Fi\ e-twenties of 1862, 6 per cent, fourth series..
Lo£,n of 1863, 6 per cent
Ten-forties of 1864, 5 per cent
Five-twenties of June, 1864, 6 per cent.
Five-twenties of 1865, 6 per cent, first series
Consols of 1865, 6 per cent, second series
Consols of 1867, 6 per cent, third series
Consols of 1868, 6 per cent, fourth series
Fur ded loan of 1881, 5 per cent
FuEded loan of 1891, 4J per cent
FuEded loan of 1907, 4 per cent
Loa:a of 1904, 5 per cent
Loa;i of 1925, 4 per cent
Loaii of 1908-1918, 3 per cent
CouMols of 1930, 2 per cent
Paniima Canal loan, 2 per cent, series of 1906...
Panama Canal loan, 2 per cent, series of 1908...
DISTRICT OF COLUMBIA LOANS.
Ten-year loan (Bowen), 6 per cent
Pernianent improvement loan, 6 per cent
Watur-stock loan, 7 per cent.
Market-stock loan, 7 per cent
Twenty-year funded loan of 1892, 6 per cent..
Thiri;y-year funded loan of 1902, 6 per cent...
Pernianent improvement loan, 7 per cent
Fifty-year funded loan of 1924, 3.65 per cent..
Twenty-year funded loan of 1899, 5 per cent.
Steaia force-pump loan, 7.3 per cent
MISCELLANEOUS.
Louisville and Portland Canal Co., 6 per cent.
1,597
953
1,597,000
2,611,403
Total
96,737,546
1,490,638,670
EXCHANGED, R E D E E M E D , AND TRANSFERRED COUPON B O N D S , WITH N U M B E R OP
COUPONS ATTACHED, RECORDED IN THIS DIVISION AND DESTROYED BY THE COMMITTEE AUTHORIZED FOR THAT P U R P O S E , TO J U N E 30, 1910.
Loan.
Number of
bonds.
Number of
coupons
attached.
6,902
18,984
1,731
4,006
98,531
187,512
205,680
179,819
279,332
46,876
173,052
156,443
227,678
247,703
255,733
39,823
54,586
38,735
116,977
69,250
68,271
7,548
112,863
2,824,476
4,085,368
4,201,969
3,270,977
4,573,420
1,409,387
10,519,705
4,513,529
5,150,022
7,141,000
8,321,045
1,344,341
1,809,876
2,090,488
13,148,517
Amount.
UNITED STATES LOANS.
Loan of 1848, 6 per cent.
Loan (if 1858, 5 per cent
Loan (if 1860, 5 per cent
Loan cif February, 1861, 6 per cent
Loan of July and August, 1861, 6 per cent
Five-twenties of 1862, 6 per cent, first series
Five-twenties of 1862, 6 per cent, second series.
Five-twenties of 1862, 6 per cent, third series...
Five-tAventies of 1862, 6 per cent, fourth series..
Loan of 1863, 6 per cent
Ten-foities of 1864, 5 per cent
Five-tv^enties of June, 1864, 6 per cent
Five-tvrenties of 1865, 6 per cent, first series
Consols of 1865, 6 per cent, second series
Consols of 1867,6 per cent, third series
Consols of 1868, 6 per cent, fourth series
Fundecl loan of 1881, 5 per cent
Fundecl loan of 1891, 4 | per cent
Funde(3, loan of 1907, 4 per cent
$8,234,000
18,984,000
1,731,000
4,006,000
73,435,800
99,789.500
99,581,000
99,206,150
152,510,500
35,625,150
102,875,800
114,914,250
178,062,050
139,844,050
92,947,200
14,468,850
48,313,700
•33,784,150
94,682,300
DISTRICT OF COLUMBIA LOAN.
Fifty-year funded loan of 1924, 3.65 per cent
Total
22,982
2,363,085
2,180,017
76,842,0
8,692,000
1,421,687,450
438
BEPORT ON O^HE FINANCES.
The number of redeemed detached coupons received during the
year was 455,407, amounting to $1,708,313.58; the number counted
to verify schedules, 455,407; the number arranged numerically,
455,407; the number entered in numerical registers, 409,629; the
number examined tp verify registration, 397,862; the number
scheduled by loans, dates, and denominations, 862,261, and the number strapped with wire for final fihng, 552,296. The preparation of
lists of outstanding coupons of all the old matured loans of the Government consumed some time during the course of the year—a work
deemed necessary to complete the records and to further increase the
facilities for furnishing information on call. At the close of the
year there were on file in this division 115,463,852 coupons, amounting
to $1,290,277,497.83.
R E D E E M E D DETACHED COUPONS R E C E I V E D D U R I N G THE Y E A R .
Number.
Loan.
Amount.
U N I T E D STATES LOANS.
Five-twenties of 1862, 6 per cent, first series
Five-twenties bf 1862, 6 per cent, second series
Five-twenties of 1862, 6 per cent, third series
Five-twenties of 1862,6 per cent, fourth series
Seven-thirties of 1864-1865, 7.3 per cent
Five-twenties of 1865, 6 per cent, first series
Consols of 1865, 6 per cent, seoond series
Consols of 1867,6 per cent, third series.
•
Funded loan of 1881, 5 per cent
Funded loan of 1891, 4J per cent
Funded loan of 1907, 4 per cent.
Loan of 1904, 5 per cent
Loan of 1925,4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
i
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
5
4
3
3
11
2
3
1
2
1
8,264
46
98,641
312,433
28,198
501
2,739
$10.50
9.00
9.00
•21.00
36.50
60.00
90.00
30.00
25.00.
1.13
37,513.00
462.50
836,131.00
687,726.15
103,486.00
624.70
11,490.20
DISTRICT OF COLUMBIA LOAN.
4,550
Fifty-year funded loan of 1924, 3.65 per cent
TotaL...
.::.........
30,587.90
455,407
1,708,313. .58
PLACE OF PAYMENT, N U M B E R , AND AMOUNT OF COUPONS R E C E I V E D D U R I N G THE
YEAR.
NEW YORK, N. Y .
Loan.
Number.
Amount.
U N I T E D STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925,4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930,2 per cent.
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908..
4,826
55,491
152,775
15,928
226
1,675
$25,710.50
478,092.00
364,173.45
58,111.00
263.70
7,366.70
DISTRICT O F COLUMBIA LOAN,
Fifty-year funded loan of 1924,3.65 per cent
TotaL
3,646
27,882.35
234,567
961,599.70
439
REGlSXteR O F TJElE TEEAStjR?.
PLACE OP PAYMENT, N U M B E R , AND AMOUNT OF COUPONS R E C E I V E D D U R I N G THE
YEAR—Continued.
CHICAGO, ILL.
Loan.
Number.
OnTED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama ,Canal loan, 2 per ceut, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
$1,071.00
56,529.50
96,601.80
8,446.00
280.00
1,644.00
50,605
164,572.30
698
13,948
17,058
1,433
73
1
$2,200.00
112,369.50
40,225.95
5,592.25
19.30
5.00
33,211
'.
530
6,644
40,596
2,368
105
362
160,412.00
BOSTON, MASS.
UNITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent.
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
CINCINNATI, OHIO.
UNITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
• Pana.ma Canal loan, 2 per cent, series of 19C6
Panama Canal loan, 2 per cent, series ofT908
Total
$571.00
44,575.50
52,002.30
12,169.75
11.00
100.00
109,429.55
ST. L O m S , MO.
UNITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panaraa Canal loan, 2 per cent, series of 1908
Total
$1,274.00
28,496.50
39,112.05
10,798.00
15.00
1,743.00
81,438.55
BALTIMORE, MD.
I'NITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1904, 5 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
,
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total.'
:
$404.00
1.25
53,049.50
13,167.75
2,407.50
1.50
1.00
9,032.50
PHILADELPHIA, PA.
UNITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1908
Total
$109.50
17,236.50
36,441.90
943.75
5.50
54,737.15
440
REPORT ON T H E FINANCES.
PLACE OF PAYMENT, N U M B E R , AND AMOUNT OF COUPONS R E C E I V E D D U R I N G T H E
YEAR—Continued.
SAN FRANCISCO, CAL.
Loan.
UNITED STATES LOANS.
$4,993.00
29,814.00
19,831.95
1,654.00
500.00
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan.of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1908
Total
'56,792.95
WASHINGTON, D.C.
tJNITED STATES LOANS.
5
4
3
3
11
2
3
1
2
1
482.
45
1,344
2,575
1,021
34
97
Five-twenties of 1862, 6 per cent, first series
Five-twenties of 1862, 6 per cent, second series
Five-twenties of 1862, 6 per cent, third series
Five-twenties of 1862; 6 per cent, fourth series
Seven-thirties of 1864-1865, 7.3 per cent
Five-twenties of 1865, 6 per cent, fu:st series
Consols of 1865, 6 per cent, second series
Consols of 1867, 6 per cent, third series
Funded loan of 1881, 5 per cent.
Funded loan of 1891, 4J per cent
Funded loan of 1907, 4 per cent
Loan of 1904, 5 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
,
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
$10.50
9.00
9.00
2L00
36.50
60.00
90.00
30.00
25.00
L13
1,114.00
461.25
8,985.00
21,796.50
3,263.75
34.20
125.00
DISTRICT OF COLUMBLA. LOAN.
Fifty-year funded loan of 1924, 3.65 per cent
904
2,705.55
16,537
Total
38,777.38
NEW ORLEANS, LA.
UNITED STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
$66.00
6,983.00
4,372.50
100.00
Total
11,521.50
RECAPITULATION.
Place.
New York, N. Y
Chicago, 111
Boston, Mass
Cincinnati, Ohio
St. Louis, Mo
Baltimore, Md
Philadelphia, Pa
San FrancisccK Cal. ^
Washington, D. C
New Orleans, La
Total
Number.
..
'
Amount.
234,567
50,605
33,211
39,344
24,632
11,766
25,827
15,756
16,537
3,162
$961,699.70
164,572.30
160,412.00
109,429.55
81,438.55
, 69,032.50
54,737.15
56,792.95
38,777.38
11,521.50
455,407
1,708,313.58
REGISTER OF T H E TREASURY.
441
N U M B E R AND AMOUNT OF COUPONS ON F I L E IN THIS DIVISION J U N E 30, 1910.
Loan.
Number.
Amount.
U N I T E D STATES LOANS.
Loanof 1842, 6 per cent
Loan of 1843, 5 per cent
Loan of 1848, 6 per cent
Texan indemnity stock, 5 per cent
Loan of 1858, 5 per cent
Loan of 1860, 5 per cent
Loan of February, 1861, 6 per cent
Oregon war debt, 6 per cent
:
Loan of July and August, 1861, 6 per cent
Seven-thirties of 1861, 7.3 per cent
Five-twenties of 1862, 6 per cent, all series
Loan of 1863, 6 per cent
Two-year Treasury notes of 1863, 5 per cent
Ten-forties of 1864, 5 per cent
Five-twenties of June, 1864, 6 per cent
Seven-thirties of 1864-1865, 7.3 per cent
Five-twenties of 1865, 6 per cent, first series
Consols of 1865, 6 per cent, second series
Consols of 1867, 6 per cent, third series
Consols of 1868, 6 per cent, fourth series
Certificates of indebtedness of 1870, 4 per cent
Funded loan of 1881, 5 per cent
Funded loan of 1891, 4J per cent
'.
Funded loan of 1907, 4 per cent
Loan of 1904, 5 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908.
42,268
26,657
222/212
107,824
459,372
26,318
216,378
123,553.
3,500,606
2,326,772
15,300,531
1,076,901
879,155
2,648,039
1,598,063
12,835,410
3,516,883
8,181,957
11,669,982
1,283,501
6,102
10,231,834
4,146,564
23,982,638
1,175,684
2,386,614
6,062,204
361,229
1,659
3,528
$1,994. 580.00
860; 925.00
7,664, 010.00
2,695 600.00
11,484, 300.00
657 950.00
6,491, 340.00
1,758, 128.00
73,246, 921.50
23,652, 541.07^
238,354, 290.36
23,128, 779.50
7,169, 243.52
46,502, 894.50
32,669; 240.50
123,330, 181.85§
82,294, 102.50
121,054, 601.00
161,044, 123.00
16,336, 959.50
122, 040.00
96,730, 061.26
36,455, 830.13
112,288, 239.50
13,126, 337.44
694.50
21,161, 354.40
15,599 700.50
I,56i; 253.80
2, 751.20
14,
DISTRICT OF COLUMBIA LOANS.
3,101
232,316
17,420
3,133
94,092
43,375
29,727
597,440
26,451
10
16,824.00
2,793,690.00
609,700.00
47,738.25
880,596.00
872,871.00
547,627. 50
3,971,296.54
593,527.50
182.50
16,349
Ten-year loan (Bowen), 6 per cent
Permanent improvement loan, 6 per cent
Water-stock loan, 7 per cent
Market-stock loan, 7 per cent
Twenty-year funded loan of 1892, 6 per cent
Thirty-year funded loan of 1902, 6 per cent
Permanent improvement loan, 7 per cent
Fifty-year funded loan of 1924, 3.65 per cent
Twenty-year funded loan of 1899, 5 per cent
Steam force-pump loan, 7.3 per cent
490,470.00
MISCELLANEOUS.
Louisville and Portland Canal Co., 6 per cent
Total
115,463,852 1,290,277,497.83
N U M B E R AND AMOUNT OF COUPONS R E C E I V E D FOR REGISTRATION FROM THE FISCAL
Y E A R 1894-95 TO 1909-10.
Number of
coupons.
Year.
1894-95
1895-96
1896-97
1897-98
1898-99
1899-1900
1900-1901
1901-2
1902-3..
1903-4
1904-5
1905-6
1906-7
1907-8
1908-9-.
1909-10
.
'
:
.
.
. . .
Total
\
:
-
•
-.
Amount.
756,801
984,807
1,016,719
997,669
1,679,788
1,751,151
1,460,494
1,246,665
1,070,734
1,004,835
986,164
890,350
822,632
743,247
450,328
455,407
$4,913,322.63
7,029,566.88
7,329,879.89
7,109,676.30
8,856,619.79
8,660,671.35
6,689,318.84
5,536,419.94
4,579,717.78
4,226,187.77
3,980,422.87
3,584,285.67
3,410,633.09
2,649,442.09
1,646,412.16
1,708,313.58
16,317,791
81,910,890.63
442
REPORT ON OTHii FiNAHCES.
I N T E R E S T CHECKS.
The number of paid interest checks received during the 'year was
119,867, amounting to $19,837,722.38; the number counted and
arranged numerically, 119,867; the number registered, 148,474, and
the number compared with the numerical registers, 155,141.
In connection with this branch of the work, a large amount of miscellaneous labor is performed each year, which can not be given in
itemized br tabulated form, and which is made necessary in order
to put the records and files in proper shape to meet all the exacting
requirements of the public service.
At the close of the year there were on file in this division 6,550,593
checks, amounting to $1,033,779,149.09.
N U M B E R AND AMOUNT OF I N T E R E S T CHECKS R E C E I V E D D U R I N G THE Y E A R .
Loan.
Number.
Amount.
i m i T E D STATES LOANS.
Loan of July and August, 1861,6 per cent, continued at 3^ per cent
Loan of 1863, 6 per cent, continued at 3^ per cent
Funded loan of 1881, 5 per cent
Funded loan of 1881, 5 per cent, continued at 3^ per cent
Loan of July 12, 1882, 3 per cent
.",
Funded loan of 1891, 4^ per cent
Funded loan of 1891, 4^ per cent, continued at 2 per cent
Funded loan of 1907, 4 per cent
Loan of 1904, 5 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent, interest on deposits for bonds
,
Loan of 1908-1918, 3 per cent
,
Consols of 1930, 2 per cent.
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
1
5
6
4
8
43
1
2,082
12
14,800
67
55,858
40,649
3,874
1,933
$35.00
148.75
619.99
8.73
778.50
456.65
250.00
36,590.50
58.12
3,607,629.50
28.44
1,210,454.85
12,814,516.50
1,091,385.10
733,715.10
502
340,964.75
DISTRICT OF COLUMBIA LOAN.
Fifty-year funded loan of 1924, 3.65 per cent
MISCELLANEOUS.
22
Total
8L90
119,867
Spanish indemnity certificates
19,837,722.38
PLACE OF PAYMENT, N U M B E R , AND AMOUNT OF I N T E R E S T CHECKS R E C E I V E D D U R I N G
THE Y E A R .
NEW YORK, N. Y.
Loan.-
Number.
Amount.
UNITED STATES L O A N S .
Funded loan of 1881, 5 per cent
Funded loan of 1881, 5 per cent, continued at 3^ per cent...
Loan of July 12,1882, 3 per cent.
Funded loan of 1891,4^ per cent
Funded loan of 1891,4| per cent, continued at 2 per cent.'..
Funded loan of 1907,4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918,3 per cent, interest on deposits for bonds
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
3
2
4
31
I
618
7,214
3
22,735
20,577
1,925
981
$596.25
6.99
755.25
267.67
250.00
16,72L50
2,000,096.00
L35
623,667.75
6,831,013.75
•583,327.80
445,116.90
DISTRICT OF COLUMBIA L O A N .
Fifty-year funded loan of 1924, 3.65 per cent
Total
, 425
323,718. 50
54,519
10,825,539.71
443
BEGISTEB 01" T H E TEEASURY.
PLACE OF PAYMENT, NUM:BER, AND AMOUNT OF I N T E R E S T CHECKS R E C E I V E D D U R I N G
THE Y E A R — C o n t i n u e d .
PHILADELPHIA, PA.
Loan.
Amount.
U N I T E D STATES L O A N S .
Loan of 1863,6 per cent, continued at 3§ per cent
Funded loan of 1907,4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent.
Consols of 1930, 2 per cent
'.
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908...
$1.75
7.00
425,565. 50
153,471:30
,852,435:00
.159,949.10
49,169.90
Total
2,640,599.55
WASHINGTON, D. C.
U N I T E D STATES LOANS.
Loan of 1863, 6 per cent, continued at 3^ per cent
Funded loan of 1881, 5 per cent
Loan of July 12,1882, 3 per cent
Funded loan of 1891, 4^ per cent.
,
Funded loan of 1907, 4 per cent.,
Loan of,1904, 5 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent, interest on deposits for bonds,
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
3
3
4
:.2
1,363
.2
1,239
64
7,373
2,804
249
115
$122.50
23.74
23.25
188. 98
19,741.00
^ 58.12
188,445 50
27.09
* 89,061.00
661,517.50
71,392.10
43,377.40
.
DISTRICT OF COLUMBIA LOAN.
Fifty-year funded loan of 1924, 3.65 per cent.
:.
17,246.25
MISCELLANEOUS.
Spanish indemnity certificates
81.90
Total
1,091,306.33
CHICAGO, ILL.
U N I T E D STATES LOANS.
Total
1
I
2
:2
951
6,041
5,158
498
336
$35.00
24.50
L74
26.50
190,386.00
133,479.75
1,342,321.50
109,629.70
106,709.40
13,000
Loan of July and August, 1861, 6 per cent, continued at 3^ per cent.
Loan of 1863, 6 per cent, continued at 3^ per cent..'
Funded loan of 1881, 5 per cent, continued at 3^ per cent
Funded loan of 1907, 4 per cent
:..,
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
,
Consols ofl930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
:
Panama Canal loan, 2 per cent, series of 1908
1,882,614.09
BOSTON, MASS.
U N I T E D STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
$39.50
215,936.50
80,528.40
598,566.75
31,555 20 •
25,752.50
952,378,85
444
REPORT ON T H E FINANCES.
PLACE OF PAYMENT, N U M B E R , AND AMOUNT OF I N T E R E S T OHECKS R E C E I V E D DURING
"THE YEAR—Continued.
ST. LOUIS, MO.
Number.
Loan.
U N I T E D STATES LOANS.
Total
68
313
1,682
2,167
227
79
$44.00
80,044.50
39,923.10
600,066.50
58,493.20
17,196.30
4,536
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906.
Panama Canal loan, 2 per cent, series of 1908
795,767.60
CINCINNATI, OHIO.
U N I T E D STATES LOANS.
$1.00
116,324.00
34,333.35
195,509.75
13,79530
6,287.50
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent.
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
3615,250.90
BALTIMORE, MD.
U N I T E D STATES LOANS.
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
$85,972.50
31,751.25
273,570.75
39,615.40
13,533.80
Total
444,443.70
SAN FRANCISCO, CAL.
U N I T E D STATES LOANS.
Funded loan of 1907, 4 per cent
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
!
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
1
159
637
411
16
24
•
$10.00
294,415.50
22,606.50
358,65525
12,662.50
25,921.40
1,248
714,271.15
59
^ 135
194
37
4
$10,443.50
1,632.45
100,859.75
10,964.80
650.00
429
124,550.50
NEW ORLEANS, LA.
U N I T E D STATES LOANS.
Loan of 1925, 4 per cent
Loan of 1908-1918, 3 per cent
Consols of 1930, 2 per cent
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
Total
445
EEGISTEB OE T H E TEEASUEY.
PLACE OF P A Y M E N T , N U M B E R , AND AMOUNT OF I N T E R E S T CHECKS R E C E I V E D D U R I N G
THE Y E A R — C o n t i n u e d .
RECAPITULATION.
Number.
Place.
Amount.
54,519
18,351
13,340
13,000
8,387
4,536
3,648
2,409
1,248
429
Total
$10,825,539.71
2, 640,599.551,091,306.33
1,882,614.09
952,378.85
795,767.60
366,250.90
444^443.70
714,271.15
124,550.50
119,867
NewYork, N . Y . .
Philadelphia, P a . .
Washington, D. C.
Chicago, 111
Boston, Mass
St. Louis, M o . . . . .
Cincinnati, Ohio..
Baltimore, M d . . . .
San Francisco, Cal
New Orleans, La.'.
19,837,722.38
N U M B E R AND AMOUNT OF R E D E E M E D I N T E R E S T CHECKS ON F I L E IN THIS DIVISION
J U N E 30, 1910.
Number.
Loan.
Amount.
UNITED STATES LOANS.
Loan of July and August, 1861, 6 per cent
Loan of July and August, 1861, 6 per cent, continued at 3i per cent.,
Loan of 1863,6 per cent
Loan of 1863, 6 per cent, continued at 3^ per cent
,
,
Funded loan of 1881, 5 per cent
Funded loan of 1881, 5 per cent, continued at 3^ per cent
Loan of July 12,1882, 3 per cent
Funded loan of 1891, 4§ per cent
Funded loan of 1891, 4^ per cent, continued at 2 per cent
Funded loan of 1907, 4 per cent
Loan of 1904, 5 per cent
<
.
Loan of 1925, 4 per cent
\
Loan of 1908-1918, 3 per cent, interest on deposits for bonds
Loan of 1908-1918, 3 per cent
^
Consols of 1930, 2 per cent, first interest on coupon bonds
Consols of 1930,2 per cent
\
Panama Canal loan, 2 per cent, series of 1906
Panama Canal loan, 2 per cent, series of 1908
5,995
6,206
3,099
6,576
202,197
54,298
81,949
569,250
37,029
3,634,273
. 58,065
208,393
218,924
1,058,755
. 179
303,885
9,145
1,933
$3,827,553.00
1,781,850.92
1,513,407.00
1,674,221.46
109,687,023.43
16,097,199.90
28,347,470.12
105,380,009.57
4,387,066.69
488,040,631.94
19,459,344.58
56,828,440.50
200,403.33
16,888,586.25
28,351.25
99,721,724.75
2,957,356.70
733,71510
DISTRICT O F COLUMBIA LOANS.
3,736
22,142
857,026.41
13,765,557.30
63,115
1,372
77
60,313,549.68
425,459.21
863,200.00
6,550,593
Old funded debt, 3^ and 5 per cent
Fifty-year funded loan of 1924, 3.65 per cent.
1,033,779,149.09
\
MISCELLANEOUS.
Pacific railroads, 6 per cent
Spanish indemnity certificates.
Cherokee land certificates
Total
N U M B E R AND AMOUNT OF I N T E R E S T C H E C K S , INCLUDING I N T E R E S T CHECKS OF
PACIFIC RAILROADS, S P A N I S H INDEMNITY CERTIFICATES, AND C H E R O K E E L A N D
CERTIFICATES, R E C E I V E D FROM T H E F I S C A L - Y E A R 1894-95 TO 1909-10.
Year.
1894^95
1895-96
1896-97
1897-98
1898-99
1899-1900
•
1900-1901.
. .
.
1901-2
1902-3
1903-4..
1904-5
1905-6
1906-7
1907-8
1908-9 '-! ^ ' ^'" - . . . . . ! . . . ! r. . . ; . • . / .
19(59-10
Total
Number.
?
.
.
.
:
134,843
135,006
131,674
127,575
271,172
405,802
301,906
203,945
227,767
204,150
224,798
168,205
166,454
"139,248
125,730
119,867
3,088,142
Amount.
$29,651,004.97
32 363 235 54
30,465,346.27
26,398,725.23
28,063,675.03
36,160,159.98
32,213,185.18
19,791,780.19
21,812,786.47
19,200,988.51
22,689,376.51
18,455,400.49
20,228,70L57
17,136,314.65
19,408,012.93
19,837,722.38
393,876,415.90
446
REPORT ON T H E FINANCES.
CURRENCY.
During the year this division received, counted, examined, entered
in journals and ledgers, and prepared for destruction 15,014,542 United
States notes, aniounting to $114,523,000; 70,541 Treasury notes of
1890,'amounting to $503,800; 173,068,474 silver certificates, amounting to $315,388,600; 6,915,851 gold certiiicates payable to bearer,
amounting to $153,785,000; 9,006 fractional currency notes, amounting, to $1,965; 60 4 per cent refunding certificates payable to bearer,
amounting to $600, and 6 three-year 6 per cent compound-interest
notes, amounting to $60; aggregating in total number of notes and
certificates 195,078,480 and in total amount of the same $584,203,025.
In addition, as shown in the following table, the corresponding force
of counters in the office of the Treasurer of the United States counted
and examined certain New York remittances of currency not received
in this office, as follows: 2,156,734 United States notes, amounting to
$15,417,000; 5,517 Treasury notes of 1890, amounting to $3&,200;
17,905,286 silver certificates, amounting to $33,906,000, and 1,029,333
gold certificates payable to bearer, amounting to $19,783,000; aggregating in total number of notes and certificates 21,096,870 and in
total amount $69,145,200. This, added to the count of this office,
makes a grand total of 216,175,350 notes and certificates, amouriting
to $653,348,225, counted, examined, and destroyed during the fiscal
year.
D I F F E R E N T CLASSES OF N O T E S R E C E I V E D AND DESTROYED D U R I N G THE Y E A R , BY
DENOMINATION AND AMOUNT, AND TOTAL R E D E M P T I O N AND DESTRUCTION, OF
THE SAME, BY DENOMINATION AND AMOUNT, TO J U N E 30,
1910.
Various r e m i t tances c o u n t e d
in t h i s oflfice.
Issue a n d d e n o m i n a t i o n .
Old d e m a n d notess
F i v e dollar
T e n dollar
T w e n t y dollar
N e w Y o r k remittances c o u n t e d ' i n T o t a l a m o u n t reoflfice of Treasurer d e e m e d to d a t e .
of U n i t e d States.
$21,778,622.50
20,010,235.00
18,187,860.00
; .
Total
59,976,717.50
U n i t e d States n o t e s :
T w o dollar
F i v e dollar
T e n dollar
T w e n t y dollar
Fiftydollar
One h u n d r e d dollar
F i v e h u n d r e d dollar
One t h o u s a n d dollar .
F i v e t h o u s a n d dollar
T e n t h o u s a n d dollar
U n k n o w n denominations
TotaL
•
;
$7,291.00
7,334.00
44,252,295.00
59,391,900.00
3,788,280.00
269,750.00
1,280,650.00
763,500.004,762,000.00
7,112,000.00
7,111,000.00
404,000.00
33,200.00
148,200.00
179,500.00
429,000.00
186,521,604.80
185,374,770.20
685,661,430.00
1,282,956,794.00
523,240,818.00
144 707 575.00
189,477,800.00
215,509,000.00
408,105,000.00
20,000,000.00
39,990,000.00
1,000,000.00
3,882,544,792.00
$100.00
. 114,523,000.00
15,417,000.00
T r e a s u r y notes of 1890:
One dollar
T w o dollar
F i v e dollar
T e n dollar
T w e n t v dollar
Fifty dollar
One h u n d r e d dollar
One t h o u s a n d dollar
14,367.00
14,348.00
110,425 00
208,720.00
113,540.00
1,800.00
26,600.00
14,000.00
1,100.00
1,400.00
7,500.00
17,300.00
9,400.00
100.00
1,400.00
1,000.00
,
503,800.00
39,200.00
. Total
•
64,308,643.00
49,546,162.00
119,897,535 00
103,468,180.00
35,155,230.00
1,156,650.00
17,790,600.00
52,440,000.00
443,763,000.00
REGISTER OF T H E TREASURY.
447
D I F F E R E N T CLASSES OF N O T E S R E C E I V E D AND D E S T R O Y E D , ETC.—Continued.
Various remittances c o u n t e d
in t h i s office.
Issue a n d d e n o m i n a t i o n .
Silver certificates:
One dollar
T w o dollar
F i v e dollar
T e n dollar
T w e n t y dollar
Fifty dollar
One' h u n d r e d dollar
F i v e h u n d r e d dollar
One t h o u s a n d dollar
Total
-
F r a c t i o n a l currency notes:
T h r e e cent
F i v e cent
T e n cent
Fifteen cent
Twenty-five cent
Fifty cent
"
U n k n o w n denominations
$12,643,000.00
4,444,000.00
14,180.000.00
1,772;000.00
326.000.00
537;600.00
3,400.00
$1,054,544,260.90
504,121,827.60
1,744.448,702. .50
589', 895.729.00
292.105,410.00
76;951,390.00
80,936; 780.00
16,623,500.00
32,463,000.00
33,906,000.00
4,392,090,600.00'
36,715.470.00
57.769,280.00
9,4.35,800.00
14,864;450.00
2,747,000.00
9,263,000.00
13,930,000.00
9,060,000.00,
Total
$122,586,421.00
48.094,064.00
124.538,915 00
12,951,550.00
2,862,800.00
4,265,350.00
80,000.00
1,500.00
8,000.00
315,388,600.00
5,885,000.00
7,702,000.00
1.496,000.00
2,348,000.00
500,000.00
1,242,000.00
300,000.00
310,000.00
83.484,8.50.00
452,366,916.00
107,860;845 00
140,411,500.00
58,617,500.00
. 135,614,500.00
106,155,000.00
220,160,000.00
153,785,000.00
•
Gold certificates, a c t of J u l y 12, 1882, p a y a b l e t o
bearer:
T e n dollar
T w e n t v dollar
Fifty dollar
One h u n d r e d dollar
F i v e h u n d r e d dollar
One t h o u s a n d dollar
F i v e t h o u s a n d dollar
T e n t h o u s a n d dollar
19,783,000.00
1,304,671,111.00
. ... .
511,724.32
3,836,229.04
77,142,688.73
5,065,590.69
134,763,784.61
132,137,301.45
32,000.00
. 1 , 9 6 5 00
Total
One-year T r e a s u r y notes of 1803:
T e n dollar
T w e n t y dollar
Fifty dollar
One h u n d r e d dollar.
U n k n o w n denominations
4.54
22.56
357.30
1500
777.60
788.00
353,489,-318.84
600.00
39,937,010.00
•
F o u r p e r cent refunding certifica,tes, p a y a b l e t o
bearer:
T e n dollar
Total
N e w Y o r k remittances counted in T o t a l a m o u n t reoffice of Treasurer d e e m e d t o d a t e .
of U n i t e d States.
.
.
6,195,320.00
16,426,480.00
8,233,750.00
13,634,000.00
90.00
.
-
44,489,640.00
Two-year T r e a s u r y notes of 1863, issued w i t h o u t
coupons:
Fifty dollar
One h u n d r e d dollar
6,794,800.00
9,678,300.00
Total
16,473,100.00
Two-year T r e a s u r y notes of 1863, issued w i t h
coupons:
Fifty dollar
One h u n d r e d dollar
F i v e h u n d r e d dollar
One t h o u s a n d dollar
U n k n o w n denominations...
5,903,650.00
14,476,400.00
40,300,500.00
89,289,000.00
10 500 00
Total
149,980,050.00
C o m p o u n d - i n t e r e s t notes, act of March 3^ 1863:
T e n dollar
Fifty dollar
One h u n d r e d dollar
F i v e h u n d r e d dollar
873,860.00
2,745,350.00
3,938,600.00
10,425,500.00
Total
Compound-interest notes, act of J n n e 30,1864:
T e n dollar
T w e n t y dollar
Fifty dollar
One h u n d r e d dollar. .
F i v e h u n d r e d dollar
O n e t h o u s a n d dollar
"...
Total
17,983,310.00
60.00
60.00
22,391,510.00
30,094,180.00
58,017,400.00
41,124,000.00
57^408,500.00
39,417.000.00
248,452,590.00
448
REPORT ON T H E FINANCES.
D I F F E R E N T CLASSES OF N O T E S R E C E I V E D AND DESTROYED, ETC—Continued.
RECAPITULATION.
Amount redeemed during
the year.
Issue.
Old demand notes
^
i
"United States notes
.°
United States notes (New York remittances)
Treasury notes of 1890
Treasury notes of 1890 (New York remittances)
Silver certificates
Silver certificates (New York remittances)
Gold certificates, act of July 12,1882, payable to bearer
Gold certificates, act of July 12,1882, payable to bearer (New York
remittances)
Fractional currency notes
Four per cent refunding certificates, payable to bearer
,
One-year Treasury notes of 1863
Two-year Treasury notes of 1863, issued without coupons..-.
Two-year Treasmy notes of 1863, issued with coupons
Compound-interest notes, act of Mar. 3,1863
Compound-interest notes, act of June 30,1864
Total amount redeemed to date.
$59,976,717.50
$114,523,000.00
15,417,000.00
.503,800.00
39,200.00
315,388,600.00
33,906,000.00
153,785,000.00
'3,'882,'544,'792."66
443,763,000.00
"4,'392,'696,"666.'66
19,783,000.00
1,96500
600.00
60.00
653,348,22500
Total
1,304,671,111.00
353,489,318.84
39,937,010.00
44,489,640.00
16,473,100.00
149,980,050.00
17,983,310.00
248,452,590.00
10,953,851,239.34
NOTE.—In some of the denominations of the above issues the notes were redeemed at less than their
full face value on account of discounts for mutilation.
The following table shows old demand notes; United States notes;
Treasury notes of 1890; silver certificates; gold certificates, act of
July 12, 1882, payable to bearer; fractional currericy notes; 4 per
cent refunding certificates, payable to bearer; one and two year
Treasury notes of 1863, anci compound-interest notes of 1863 arid
1864, received for count, cancellation, and destruction from the fiscal
year 1894-95 to 1909-10:
Amount.
52,894,507
$255,816,859.93
276,231,303.35
56,435,683
59,259,953
253,061,552.00
249,049,270.00
58,111,942
271,506,013.48
63,545,005
286,067,832.25
67,558,142
81,403,013
322,144,938.78
100,673,201
367,179,978.00
122,913,253
438,581,243.00
516,586,720.75
149,340,383
158,738,277
541,149,680.80
159,153,866
503,383,621.80
161,437,213
500,006,953.00
577,336,340.00
172,179,110
620,417,807.00
194,510,006
195,078,480 } 653,348,22500
21,096,870
189^95."
1895-96
1896-97
1897-98
. .- •
1898-99
'.
1899-1900
1900-1901
1901-2
1902-3
1903-4
1904-5
1905-6
1906-7
1907-8
1908-9
1909-10
1909-10 (New York remittances)
Total
•
Number of
notes.
Year.
:
1,874,328,904
'
6,631,868,339.14
GOLD C E R T I F I C A T E S .
During the year, of the gold certificates of the act of July 12, 1882,
series of 1888, payable to order, there were received, examined, registered, and filed four certificates of $5,000 denomination, amounting
to $20,000. Of the issue of gold certiiicates of the act of March 14,
. 1900, series of 1900, payable to order, there were received, examined.
449
REGISTER OF T H E TREASURY.
registered, and filed 8,626 certificates of the denomination of $10,000,
amounting to $86,260,000.
Gold certificates of the act of July 12, 1882, series of 1882, payable
to bearer, are destroyed after redemption. The amount received and
destroye(l is shown in the tables of destruction of the currency on
pages 447 and 451.
The following table shows the outstanding amounts of the various
old matured coupon bonds and other miscellaneous securities issued
before, during, and since the civil war of 1861-1865, as shown by the
record books of this division, in which are kept an individual record
of these securities as issued by the Government by loans, numbers,
and denominations.
The great importance of this record in detail to protect the interests
of the Government, must be apparent in the fact that on account of
the long delay of payment of these outstanding liabilities, it is a safeguard against any possible fraudulent claims for any portion of the
amounts outstanding, although they may be supported by the most
plausible proof.
I S S U E , REDEMPTION, AND OUTSTANDING OF VARIOUS OLD I S S U E S OF THE GOVERNM E N T AT THE C L O S E O F T H E Y E A R .
Issue.
Total issue.
Coupon bonds:
Texan indemnity stock, act of Sept. 9,
1850, 5 per cent
.'
Loan of 1858, act of June 14, 1858, 5 per
cent
•..
Loan of February, 1861, act of Feb. 8,
1861i 6 per cent
. Oregon war debt, act of Mar. 2, 1861, 6
per cent
Loan of July and August, 1861, acts of
July 17 and Aug. 5, 1861. 6 per cent
Five-twenties of 1862, act of Feb. 25,1862,
6 per cent, first series
Five twenties of 1862, act of Feb. 25,1862,
6 per cent, second series
Five-twenties of 1862, act of Feb. 25,1862,
6 per cent, third series
Five-twenties of 1862, act of Feb. 25,1862,
6 per cent, fourth series
Loan of 1863, act of Mar. 3, 1863, 6 per
cent
Ten-forties of 1864, act of Mar. 3, 1864, 5
per cent
,
Five-twenties of June, 1864, act of June
30, 1864, 6 per cent
Five-twenties of 1865, act of Mar. 3,1865,
6 per cent, first series (May and November)
Consols of 1865, act of Mar. 3, 1865, 6 per
cent, second series
Consols of 1867, act of Mar. 3,1865, 6 per
cent, third series
Consols of 1868, act of Mar. 3, 1865, 6 per
cent, fourth series
:
Funded loan of 1881, acts of July 14,1870,
and Jan. 20, 1871, 5 per cent
Funded loan of 1891, acts of July 14,1870,
and Jan. 20, 1871, 4^ per cent
Loan of 1904, acts of July 14, 1870, and
Jan. 14,1875, 5 per cent
Total
65872^—FI 1910
Outstanding.
$5,000,000.00
$4,980,000.00
19,133,000.00
19,131,000.00
2,000.00
8,689,000.00
8,684,000.00
5,000.00
$20,000.00
1,541,350.00
1,539,100.00
2,250.00
137,632,100.00
137,617,100.00
15,000.00
100,001,000.00
'99,983,950.00
17,050.00
100,000,000.00
99,966,150.00
33,850.00
100,000,000.00
99,975,950.00
24,050.00
152,921,100.00
152,887,800.00
33,300.00
57,178,100.00
57,175,100.00
3,000.00
155,762,550.00
155,743,950.00
18,600.00
115,530,300.00
115,516,300.00
14,000.00
178,786,200.00
178,768,850.00
17,350.00
282,511,650.-00
282,453,100.00
58,550.00
317,665,550.00
317,570,900.00
94,650.00
37,483,500.00
37,473,400.00
10,100.00
353,895,850.00
353,875,250.00
20,600.00
120,459,650.00
19,200.00
$50.00
120,478,850.00
63,310,050.00
2,307,520,150.00
29
Redeemed Total redeemed
during
the year. to June 30,1910.
63,294,900.00
15,150.00
26,350.00 2,307,096,450.00
423,700.00
26,300.00
450
REPORT ON T H E FINANCES.
I S S U E , REDEMPTION, AND OUTSTANDING OF VARIOUS OLD I S S U E S OF THE GOVERNMENT AT THE CLOSE OF THE YEAR—Continued.
Total issue.
Issue.
Seven-thirty Treasury notes:
Actof July 17, 1861
Act of June 30, 1864, first series
Act of Mar. 3,1865, second series
Act of Mar. 3,1865, third series
Total
.
Redeemed Total redeemed
during
theyear. to June 30; 1910.
100.00
$140,085,400.00
299,947,100.00
330,970,200.00
198,954,900.00
$9,350.00
45,400.00
29,800.00
45,100. 00
150.00
969,957,600.00
129,650.00
498,593,241.65
63,160,000.00
498,591,241.65
63,159,000.00
2,000.00
1,000.00
$140,094,750.00
299,992,500.00
331,000,000.00
199,000,000.00
Certificates of indebtedness, acts of Mar. 1
and 17,1862, and Mar. 3,1863:
First issue
Second issue
$50.00
970,087,250.00
......
Outstanding.
561,753,241.65
561,750,241.65
3,000.00
Three per cent certificates, acts of Mar. 2,
1867, and July 25,1868
85,155,000.00
85,150,000.00
5,000.00
Four per cent refunding certificates:
« Act of Feb. 26,1879, payable to order
Act of Feb. 26,1879, payable to bearer...
58,500.00
39,954,250.00
600.00
58,480.00
39,937,010.00
20.00
17,240.00
40,012,750.00
600.00
39,995,490.00
17,260.00
429,604,900.00
429,597,920.00
6,980.00
33,000,580.46
370,500,000.00
5,000,000.00
143,029,400.00
33,000,580.46
370,480,500.00
4,999,100.00
142,956,800.00
19,500.00
900.00
72,600.00
981,134,880.46
981,034,900.46
99,980.00
187,460,000.00
1,725,000.00
44,520,000.00
44,489,640.00'
30,360.00
16,480,000.00
150,000,000.00
16,473,100.00
149,980,050.00
6,900.00
19,950.00
166,480,000.00
166,4,53,150.00
26,850.00
60.00
17,983,310.00
248,452,590.00
10,450.00
149,090.00
60.00
266,435,900.00
159,540.00
Total
Total
:
•
Gold certificates, payable to order:
Act of Mar. 3,1863, first series
Act of Mar. 3, 1863, Geneva award
(special)
Act of Mar. 3,1863, series of 1870
Act of Mar. 3,1863, series of 1871
Act of Mar. 3,1863, series of 1875
Total
Gold certificates, pavable to order:
Act of July 12,1882, series of 1888
,.
One-year Treasury notes of 1863, act of Mar.
3,1863
Two-year Treasury notes of 1863:
Act of Mar. 3, 1863, issued without
coupons
. .
Act of Mar. 3,1863, issued with coupons.
Total
Compound-interest notes:
Act of Mar. 3,1863
Act ol June 30,1864
Total
189,185,000.00
20,000.00
17,993,760.00
248,601,680.00
266,595,440.00
Old demand notes, acts of July 17 and Aug.
5,1861, and Feb. 12,1862
60,030,000.00
Fractional currency notes, act of July 17,
1862, and subsequent acts
368,724,079.45
•
59,976,717.50"
1,965.00
53,282.50
353,489,318.84 15,234,760.61
NOTE.—The office of the Register of the Treasury is the last to receive the redeemed securities of the
Government, and therefore the amounts reported as "redeemed" will be less than the actual redemptions
by the amount in transit, and the amounts reported as "outstanding" correspondingly increased.
During the year there were received, recorded, and filed 596,588
redeemed vouchers, amounting to $113,623,155.96, making a total of
129,002,914 redeemed vouchers, amounting to $8,868,128,502.19, on
file at the close of the fiscal year, as shown by the table following.
EEGISTEE OF T H E
451
TEEASUEY.
CLASSIFICATION, TOTAL N U M B E R , AND AMOUNT OF R E D E E M E D VOUCHERS ON F I L E
IN THIS D I V I S I O N J U N E 30,
1910.
N u m b e r of
redeemed
vouchers.
Classification.
Amount.
2,576,438 $1,475, 772,970.00
U n i t e d S t a t e s c o u p o n b o n d s , various loans
.
33,368
District of C o l u m b i a coupon b o n d s
13, 268,700.00
Louisville a n d P o r t l a n d Canal Co. c o u p o n b o n d s
1,597
I, 597,000.00
U n i t e d S t a t e s r e d e e m e d (detached) coupons
,
114,400,438 1,279, 452,974.54
1,047,065
10, 334,053.29
District of C o l u m b i a redeemed (detached) c o u p o n s . V
16,349
490,470.00
Louisville a n d P o r t l a n d Canal Co. redeemed ( d e t a c h e d ) coupons
485,557
140, 085,400.00
S e v e n - t h i r t y T r e a s u r y notes, act of J u l y 17,1861.
3,101,724
829, 872,200.00
S e v e n - t h i r t y T r e a s u r y notes, acts of J u n e 30,1864, a n d March 3,1865
194,902
406, 528,200.46
Gold certificates, act of March 3,1863, old series, p a y a b l e to o r d e r . .
24,308
187, 460,000.00
Gold certificates, act of J u l y 12,1882, series of 1888, p a y a b l e to order
65,745
657, 450,000.00
Gold certificates, act of March 14,1900, series of 1900, p a y a b l e . t o order
157,956 1,473, 625,000.00
Certificates of deposit (currency), act of J u n e 8,1872.
!
81,829
710, 775,300.75
Certificates of deposit, t e m p o r a r y loan of F e b r u a r y 25,1862
678,362.41
Certificates of i n d e b t e d n e s s of 1870, act of J u l y 8,1870
679
Certificates of i n d e b t e d n e s s , acts of March 1 a n d 17,1862, a n d March 3,1863.
247,088
561, 750,241.65
T h r e e .per c e n t certificates, acts of March 2,1867, a n d J u l y 25,1868
11,430
85, 150,000.00
F o u r p e r c e n t refunding certificates, act of F e b r u a r y 26,1879, payable to
order
- 58,480.00
R e d e e m e d i n t e r e s t checks. U n i t e d States registered b o n d s . . . ' .
6,241,048
957,325,601.91
218,924
•Redeemed i n t e r e s t checks on deposits for b o n d s of t h e loan of 1908-1918
200,403.33
R e d e e m e d i n t e r e s t checks; first interest p a i d on c o u p o n b o n d s of t h e consols of 1930
179
28,351.25
R e d e e m e d i n t e r e s t checks. District of Colurnbia registered b o n d s
25,878
1^,622,583.71
R e d e e m e d i n t e r e s t checks. Pacific railroad registered b o n d s
63,115
60,313,549.68
R e d e e m e d i n t e r e s t checks, S p a n i s h i n d e m n i t y certificates.:
1,372
425,459:21
R e d e e m e d interest checks, Cherokee land certificates
77
863,200.00
Total
:......:-.
129,002,914
8,868,128,502.19
AMOUNTS OF VARIOUS R E D E E M E D VOUCHERS R E C E I V E D , CANCELED, AND DESTROYED
TO J U N E 30,
1910.
Classification.
Amount.
, U n i t e d S t a t e s coui)on b o n d s (destruction ceased in 1880)
District of C o l u m b i a coupon b o n d s (destruction ceased in 1880)
One-year T r e a s u r y notes, act of March 3, 1863
Two-year T r e a s u r y notes, act of March 3, 1863
C o m p o u n d - i n t e r e s t notes, acts of March 3, 1863^ a n d J u n e 30, 18G4.
Gold certificates, act of March 3, 1863 (destruction ceased in 1873)
Gold certificates, act of J u l y 12,1882, p a y a b l e t o bearer
,.
Silver certificates
:
:
F o u r per c e n t refunding certificates, act of F e b r u a r y 26, 1879, p a y a b l e to b e a r e r .
Old d e m a n d n o t e s .
U n i t e d S t a t e s notes
T r e a s u r y notes of 1890
F r a c t i o n a l currency notes
-.
Total
412,995, 450.00
8,692; 000.00
44,489, 640.00
166,453, 150.00
266,435, 900.00
574,506, 700.00
304,671, 111.00
392,090, 600.00
39,937, 010.00^
59,976, 717.50
882,544, 792.00
443,763, 000.00
353,489, 318.84
12,950,045,389.34
FILES.
The work of overhaulirig, rearranging, relabeling, and cataloguing
the files of this division has continued from time to time within the
year, affording great relief from the overcrowded and congested
condition of the files of former years.
The rooms allotted for the storage of these redeemed vouchers
are conveniently located and readily accessible, so that under the
present conditions, from the millions on file any individual voucher
can be withdrawn for inspection on the shortest notice.
I am pleased to report that the business of the office is up to date
so far as it is possible for it to be.
Respectfully submitted.
W. T. VERNON, Register,
The
SECRETARY OF THE
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^ 1 . '"', Mh A
Federal Reserve Bank of St. Louis
TREASURY.
REPORT OF THE COMMISSIOITER OF mTERFAL REVENUE.
TREASURY DEPARTMENT,
OFFICE OF COMMISSIONER OF INTERNAL REVENUE,"
Washington, D. C , Novemher 1J1910.
SIR: I have the honor to make report of the work of the Bureau of
Iriternal Revenue for the fiscal year ended June 30, 1910, accompanied with a statement of the receipts from the several sources of
internal revenue for the months of July, August, and September
of the current fiscal year.
RECEIPTS.
The total receipts of this bureau for the past fiscal year amounted
to $289,957,220.16. Of this total there was collected from ordinary
sources $268,99.7,436.42, an increase of $22,784,717.20 over the
previous fiscal year, and from the corporation tax there was collected
$20,959,783.74, making the total increase over the collections of the
previous fiscal year $43,744,500.94. The collections exceeded the
estimates of November, 1909, $21,957,220.16.
The receipts for the first three months of the current fiscal year as
compared with the first three months of the fiscal year 1910 show an
increasein revenue from ordinary sources amounting to $6,489,366.03
and there has been collected in addition from corporation tax $5,912,486.52, making a total increase of $12,401,852.55.
Based on this rate of increase, I estimate t h a t the collections for
the present fiscal year will approximate $308,000,000, of which
$283,000,000 will be collected from ordinary sources and $25,000,000
from corporation tax.^
I estimate that the collections, for the fiscal year ending June 30,
1912, will approximate $308,000,000.
The objects of internal taxation producing the largest amounts of'
internal revenue during the past fiscal year are distilled spirits,
$141,523,554.06; fermented liquors, $59,485,116.82; tobacco, $58,.
118,457.03, and corporation tax, $20,959,783.74.
RECEIPTS IN LARGE T A X - P A Y I N G DISTRICTS.
The leading States in the payment of internal-revenue tax are
Illinois, $49,165,272.73; New York, $36,157,326.39; Kentucky, $32,260,278.47; Indiana, $28,885,024.02; Pennsylvania, $25,982,844.76,
and Ohio, $20,982,844.76.
:
o It is estimated that the tax assessed against the corporations on account of business
transacted during the calendar year ending December 31, 1910, will approximate
$28,000,000. On account of the fact, however, that under the law the collection of
a portion of this tax may be projected into the ensuing fiscal year it is impossible to
estimate the amount of collections from this source prior to July 1, 1911. The figures
are based on the experience of the past year^ but are liable to wide variation.
453 •
454
REPORT ON THE FINANCES.
Among the States paying the smallest amounts are Mississippi,
New Mexico, North Dakota, Vermont, and Wyoming.
Of the 66 collection districts subject to internal-revenue laws the
fifth district of Illinois reported the largest collection—$29,419,080.
I n 1909 the t o t a r production of distilled spirits Was 139,891,613
gallons. I n 1910, 163,893,960 gallons, an increase of 24,002,347 gallons. I n 1909,116,650,165 gallons of tax-paid spirits were withdrawn;
in 1910,128,657,776 gallons, an increase of 12,007,611 gallons. There
has also been an increase in the amount of tobacco and snuff manufactured, an increase in the production of beer, and a large increase
in the production of oleomargarine.
The four States having the largest production of distilled spirits
during the past fiscal year are Illinois, 38,027,381 gallons; Kentucky,
36,735,235 gallons; Indiana, 25,873,720 gallons; California, 9,377,373
gallons.
The three collection districts having the largest output of distilled
spirits are fifth Illinois, 28,480,595 gallons; fifth Kentucky, 17,280,173 gallons; seventh Indiana,-16,082,912 gallons.
During the fiscal year ended Jurie 30, 1910, there were tax paid for
bottling in bond 8,985,759.4 tax gallons, as compared "writh 6,365,839
tax gallons t a x paid during the previous fiscal year, an increase of
2,619,920.4 tax gallons.
The four States which produced the largest quantity of fermented
liquors are New York, 13,097,340 barrels; Pennsylvania,_7,664,141
barrels; Illinois, 6,024,884 barrels; Wisconsin, 4,816,387 barrels.
The two districts which produced the largest quantity of fermented
liquors are third district. New York, 5,170,773 barrels; first district,
Illinois, 5,156,814 barrels.
The four States producing the greatest number of cigars weighing
more than 3 pounds per thousand, and the production of each during
the year, are as follows: Pennsylvania, 1,774,858,617; New York,
1,151,682,078; Ohio, 659,649,735; New Jersey, 519,309,215.
The two districts showing the largest production of cigars are the
ninth Pennsylvania, 673,438,383, and the first Pennsylvania,
667,262,321.
The States showing the greatest production of little cigars (weighing less than 3 pounds per thousand) are: Virginia, 388,345,960;
Maryland, 296,397,930; New York, 184,697,249.
The greatest production of little cigars by districts is as follows:
Maryland, 296,397,930; Sixth Virginia, 203,397,760; Second Virginia,
184,948,200; first Pennsylvania, 168,768,580.
The States of New York, Virginia, Louisiana, Pennsylvania, California, and Massachusetts, in the order named, show the greatest
production of cigarettes weighing less than 3 pounds per thousand:
New York, 4,351,000,245;
Virginia, 1,679,450,650;
Louisiana,
502,794,320; Pennsylvania, 116,575,675; California, 89,424,060;
Massachusetts, 48,852,882. .
^
,\
; The three districts showing the greatest production of little cigarettes are the second New York, which produced 1,831,111,620, the
second Virginia, which produced 1,673,630,150, and the third New
York, which produced 1,485,999,735.
New York State produced the greatest number of large cigarettes,
showing a production of 17,191,610, of which number 12,121,510
were manufactured in the third district and 5,021,600 in the second
district.
INTERNAL REVENUE.
455
The States of North Carolina, Missouri, Ohio, Kentucky, Virginia,
and New Jersey, in the order named, were the largest producers of
both chewing and smoking tobacco, the quantity produced being as
follows: North Carolina, 82,447,899 pounds; Missouri, 74,747,932
pounds; Ohio, 46,453,711 pounds; Kentucky, 44,937,819 pounds;.
Virginia,^ 28,970,620 pounds; New Jersey, 28,179,726 pounds. ^
The districts producing the largest quantity were: First Missouri,
74,566,186 pounds; fifth North Carolina, 44,381,908 pounds; first
Ohio, 43,583,387 pounds; fifth Kentucky, 39,488,051 pounds;
fourth North Carolina, 38,065,991 pounds.
The four States yielding the largest amount of corporation tax are:'
New York, $3,756,833.38; Pennsylvania, $3,244,923.80; Illinois,
$2,111,865.57; Ohio, $1,500,127.10.
The districts in which the largest collections of corporation tax were
made are Second New York, $2,424,831.02; first Illinois, $1,956,316.55; twenty-third Pennsylvania, $1,646,461.88; first Pennsylvania,
$1,361,427.78.
COST OF COLLECTING THE INTERNAL REVENUES.
The cost of collecting the internal revenues for the past fiscal year
was 1.74 per cent. The cost of collection during the fiscal year 1909
was 2.02 per cent. The average cost since the creation of the bureau
is 2.66 per cent.
The cost of collection for the past fiscal year, distributed approximately among the clifferent items of appropriation, was as follows:
Salaries and expenses of collectors of internal revenue, 1910.
$2, 043, 898. 46
Miscellaneous expenses, internal-revenue service, 1910
78, 263. 67
Salaries and expenses of agents and subordinate ofiicers of internal
revenue, 1910.
,
2,353,660.45
Paper for internal-re venue stamps, 1910
88,446.19
Punishment for violation of internal-revenue laws, 1910
112, 568. 30
Salaries, office of Commissioner of Internal Revenue, 1910
321, 967. 94
Refunding internal-revenue collections, 1910
20, 708. 20
Expenses of collecting the corporation tax, 1910.
.•
24, 989. 39
Total amount expended
5,044,502. 60
Expenditures from appropriation " Withdrawal of denaturalized
alcohol.^^—The expenditures from the appropriation for '^Withdrawal
of denaturalized alcohol'' were as follows:
Salaries and expenses of agents and inspectors
Salaries and expenses-of 13 deputy collectors
Salaries of 10 storekeepers a
Salaries of 3 gaugers ^
Salaries of office force
Office traveling expenses
Laboratory supplies
Total amount expended
$67,214. 79
16, 770.15
13,084.00
4, 661. 84
28,958.04
299. 05
60. 38
131. 048. 25
a Where alcohol was produced at a distillery and only a portion of the product was
denatured and the distillery was of that class where a storekeeper was assigned to perform all the work in connection with the entry and withdrawal of alcohol and denaturing the same, payment of salary and expenses was made from the appropriation
for''Salaries and expenses of agents and subordinate officers of internal revenue."
• b Where there was not a sufficient amount of alcohol denatured at one distillery to
. employ the entire time of one gauger°in such work, the compensation and expenses
of such gauger were paid from the appropriation for ''Salaries and expenses of agents
and subordinate officers of internal revenue."
456
REPORT ON T H E FINANCES.
ESTIMATED EXPENSES FOR NEXT FISCAL YEAR.
I estimate the expenses of the Internal-Revenue Service for the
fiscal year ending June 30, 1912, as follows:
Office of Commissionerof Internal Revenue: For salaries of officers, clerks,
and subordinate officers
$354,290
Salaries and expenses of collectors of internal revenue: For salaries and
expenses of collectors of internal revenue, and deputy collectors, and
surveyors, and clerks, messengers, and janitors in internal-revenue
offices
2,150,000
Salaries and expenses of agents and subordinate officers of internal revenue:
For salaries and expenses of 40 revenue agents provided for by law, and
fees and expenses of gaugers, salaries and expenses of storekeepers and
storekeeper-gaugers a
2, 525, 000
Miscellaneous expenses, Internal-Revenue Service: For rent of offices outside of the District of Columbia, telephone service, and other miscellaneous expenses incident to the collection of internal revenue
100,000
Paper for internal-revenue stamps: For paper for internal-revenue stamps,
including freight
1
80, 000
Punishment for violation of internal-revenue laws: For detecting and
bringing to trial and punishment persons guilty of violating the internalrevenue laws or conniving at the same, including payments for information and detection of such violations
150,000
Refunding internal-revenue collections: To enable the Secretary of the
Treasury to refund money covered into Treasury as internal-revenue
collections under the provisions of the act approved May 27, 1908.30,000
Expenses of collecting the corporation tax: For expenses of collecting the
corporation tax authorized by the act approved August 5, 1909, " T o
provide revenue, equalize duties, and encourage the industries of the
United States, and for other purposes " . . .
100, 000
Classifying, etc., returns of corporations: For classifying, indexing, exhibiting, and properly caring for the returns of all corporations, required
by section 38 of the act approved August 5, 1909
25,000
Total
5,514,290
Salaries, office of Commissioner of Internal Revenue (reimbursable): For
salaries of two stamp agents and one counter
•
3,400
SALARIES.
I have the honor to recomniend that Congress appropriate for the
fiscal year ending June 30, 1912, the sum of $354,290^ as salaries for
the following officers, clerks, and employees in this bureau:
1
2
I
1
2
1
1
6
3
1
Commissioner of Internal Revenue
deputy commissioners, at $4,000 each
chief chemist
chemist
first assistant chemists, at $1,800 each
second assistant chemist
third assistant chemist
heads of divisions, at $2,500 each.
heads of divisions, at $2,250 each
superintendent of stamp vault
•
"
$6,000
8,000
3,000
2, 500
3, 600
1,600
1,400
15,000
6, 750
2,000
o Ninety thousand dollars included in this estimate is for the purpose of granting
leave of absence, with pay, and traveling expenses, when under assignment, to
storekeepers, storekeeper-gaugers, and gaugers.
& This estimate includes the amountof $18,240 from which the following were formerly paid from the appropriation for "Withdrawal of denaturalized alcohol:" 1
chief chemist, 1 first assistant chemist, 1 clerk of class 4, 1 clerk of class 3, 4 clerks of
class 2, 3 clerks of class 1, and 1 messenger.
INTERNAL EEVENUE.
1 private secretary
4 clerks of class 5
29 clerks of class 4
25 clerks of class 3
^ 41 clerks of class 2
'.:
40 clerks of class 1
32 clerks, at $1,000 each
40 clerks, at $900 each
4 messengers, at $840 each
21 assistant messengers, at $720 each
16 laborers, at $660 each
457
$1, 800
8,000
52,200'
40,000
57,400
48,000
32,000
36,000
3, 360
15,120
10,560
272
354,290
I also recommend the appropriation of the sum of $3,400 as salaries
of two stamp agents, one at $1,600, one at $900, and one counter at
$900, the same to be reimbursed by the stamp manufacturers, as provided by the act of August 5, 1882.
SCALE OF SALARIES OF COLLECTORS.
The recommendations made for the salaries of collectors are based
upon an estimate of their probable collections according to the following scale, with the qualifications that if the actual collections vary from
the amounts estimated the salaries will be readjusted at the end of
the fiscal year:
F o r collection of—
$25,000 or less
$25,001 to S37,500
$37,501 t o $50,000
$50,001 t o $75,000
$75,001 t o $100,000 . .
$100,001 to $125,000
$125,001 t o $175,000 . .
$175,001 to $225,000.
$225,001 t o $275,000 .
$275 001 t o $325 000
$325,001 t o $375,000...
Salary
$2,000
2,125
2,250
2,375
2,500
2,625
2,750
2,875
3,000
3,125
3,250
F o r collection of—
$375,001 to $425,000
$425,001 to $475,000
$475,001 to $550,000
$550,001 to $625,000.. . . . . ; . . . . . . • . : . . . . J . 1
$625,001 t o $700,000
$700,001 to $775,000.
....-.'
$775,001 to $850,000 . .
.
$850,001 to $925,000.
$925,001 t o $999,999
$1,000,000 a n d u p w a r d
Salary.
$3,375
3,500
3,625
•• 3,750
3,875
4,000
4,125
4,250
4,375
4,500
In addition to the salary based upon the above-mentioned scale, the
collector shall receive a commission of one-half of 1 per cent on taxpaid spirit stamps, and niay receive additional compensation on
account of territorial extent, as provided by law, provided the gross
compensation does not exceed $4,500. (See sec. 3148 as amended and
sec. 3314, Rev. Stat.)
OFFICIAL FORCE.
At the close of the fiscal year ended June 30, 1910, 258 officers,
clerks, messengers, and laborers were employed in this bureau, and
the aggregate amount paid during the year for their salaries was
$321,967.94, which does not include office force paid from the appropriation for ^'Withdrawal of denaturalized alcohol,'^ from which was
paid $28,958.04, covering salaries of 23 employees.
The force connected with this bureau during the fiscal year which
ended June 30, 1910, in the various districts throughout the United
458
REPORT ON T H E FINANCES.
States, as reorganized under the executive order of May 21, 1887, was
66 collectors, who received per-annum salaries and commissions as
follows:
$4,500.00
4,406.92
4,375.44
4,252.12
4,198.49
3,893.43
3,875.00
3,820.33
3,750.00
50
Salary.
Number.
Salary.
Numbier.
J
•
>
$3,739.44
3,625.55
3,625.00
3,375.00
3,313.08
3,186.35
3,125.40
3,125.00
There were also employed 1,186 deputy collectors, who received
per-annum salaries as follows:
Number.
7
14.
25
3..
36
10.
25
44 .
5
165
7
68
. ..
Salary.
$2,500
2,400
2,200
• 1,900
1,800
1,700
1,600
1,500
1,450
1,400
1,350
1,300
Number.
1
291
2
140 .
I
129:.
85
19 .
I
15
3
29
..
:
Salary.
$1,250
1,200
1,150
1,100
1,050
1,000
900
800
750
720
700
600
Nuinber.
9
2
3
1
38
6
1
1
3
1
.
.
.
.
:
Salary.
$500
480
400
360
300
200
180
100
60
50
There were also employed in the offices of the different collectors 131
clerks, who received per-annum salaries as follows:
Salary.
Number.
2
3.. .
6...:
13
12; .
1
. . .
$1,700
1,600
1,500
1,400
1,300
1,250
Number.
38
1.
12
1.
18
12
Salary.
$1,200
1,150
1,100
1,050
1,000
900
.
.
Number.
8.
1
2
1
Salary.
$800
720
700
600
Also 12 messengers and 2 janitors, who received per-annum salaries
as follows:
Number.
I
1...:
I
Salary.
$900
840
720
Number.
1
7
1....
Salary.
$700
600
450
Number.
2
:........
Salary.
$300
INTERNAL REVENUE.
459
STOREKEEPERS, GAUGERS, ETC.
There were also employed 161 gaugers who received fees not to
exceed $5 per day, 54 storekeepers whose pay did not exceed $4 per
day, and 1,958 storekeeper-gaugers whose pay ranged from $2 to $5
per day, and 6 distillery surveyors at $2.50 pcT day. All the employees
above enumerated were paid only when actually employed.
OBJECTS OF TAXATION.
DISTILLED SPIRITS.
While the enactment of state-wide prohibitory laws in some States
and of local-option laws in other States has greatly reduced the
number of distilleries of the smaller classes, and in some districts
has reduced the number of rectifiers and wholesale and retail liquor
dealers, the production and withdrawal for consumption of distilled
spirits has greatly increased during the past fiscal year, as the following comparative statement of production of distilled spirits from
materials other than fruit during the fiscal years ended June 30,1897,
to June 30, 1910, inclusive, shows.
Fiscal year of production ended— . T^-x gallons.
June30, 1897.
62,465,647.8
June 30,1898
80,762,213.4
June 30, 1899
97,066,554.7
June 30,1900
:
105,484,699.8
June 30,1901
124,520,599.8
June 30, 1902
128,623,401.9
June30, 1903
141,776.202.1
Fiscal year of production ended—
June 30, 1904
June 30, 1905
June30,1906
June 30, 1907
June 30, 1908
June 30, 1909.:..
June 30, 1910...
:.....
Tax gallons.
134,311,952.0
147,810,794.3
145,666,125.1
168,573,913.2
126,989,740.1
133,450,755.1
156,237.526.4
During the fiscal years 1898 to 1907 the production of distilled
spirits each year was much in excess of the withdrawals for all purposes, resulting in a stock in distillery and general bonded warehouses
at the end of the fiscal year 1907 of 245,438,816 original gauge gallons,
being an increase over a similar stock held in bond at the expiration
of the fiscal year ended June 30, 1898, of 112,452,549.3 original gauge
gallons. The stock in bond June 30, 1910, was 233,508,674.6 original
gauge gallons, and the withdrawals for all purposes during the fiscal
year ended June 30, 1910, were in excess of the production during
I said year of 4,367,240.6 original gauge gallons.
The tax-paid withdrawals of spirits distilled from material other
than fruits during the fiscal years ended June 30, 1897, to June 30,
1910, inclusive, were as follows:
Fiscal year ended June 30—
1897
1898
1899
1900
1901
1902
1903
Tax gallons.
68,661,038.5
78,246,032.9
83,694,338.1
93,391,827. 8
99,191,721. 5
103,304,981.5
112,788,168.0
Fiscal year ended June 30—Contd-^ Tax gallons.
1904
116,033,305.6
1905
115,994,857.5
1906
122,617,943.1
1907
134,031,066.7
1908
119,703,594.4
1909
114,693,578.2
1910
:
126,384,726.7
From the foregoing it will be observed that the withdrawals on
payment of tax from bonded warehouses during the period from 1897 •
to 1907 increased approximately 100 per cent, and that there was a
decrease in tax-paid withdrawals for the fiscal years ended June 30,
1908, and June 30, 1909, as compared with the previous years' with-.
drawals, of 14,327,472.3 and 5,010,016.2 tax gallons, respectively, and
an increase for the year 1910 over 1909 of 11,421,1481.5 tax gallons.
460
REPORT ON THE FINANCES.
During the year there were operated 444 grain distilleries, 16
molasses distilleries, and 446 distilleries engaged in the production of
brandy from fruit. This was a decrease of 386 distilleries.
On December 24, 1909, President Taft rendered his decision in the
prolonged controversy as to what is whisky. New internal-revenue
regulations governing the marking and branding of distilled spirits
were prepared arid issued in conformity with this ruling, to be effective
on and after July 1, 1910. On June 28, 1910, however, a temporary
restraining order was entered by consent between the Department
of Justice and the parties at interest in the United States District
Court for the Eastern District of Louisiana, and in accordance with
advice from the Department of Justice the provisions of the regulations referred to were arnended as far as was necessary to conform
therewith.
During the past fiscal year the bureau adopted stricter methods in
dealing with the manufacture and use by rectifiers of certain products
of sugar fermentation known as ^^base wine,'' with results very
gratifying from the revenue standpoint.
The insistence of the enforcement of the statutes governing rectifiers
has also resulted in practically preventing the placing on the market
of non-tax paid spirits by a class of persons who had been permitted
to qualify as rectifiers and extract from the staves of empty spirit
packages the" alcohol remaining therein. This business had assumed
considerable proportions and the amount of revenue lost thereby was
quite large.
The volume of business at rectifying houses has increased substantially over that of the previous fiscal year, as shown by the quantity
dumped for rectification and rectified.
. °
Practically no serious frauds were discovered during the year in
connection with sweet-mash distilleries. Frauds in connection with
the smaller sour-mash distilleries, however, continued with little sign
of diminution, but the increased efficiency of the inspection force and
the increased use of the Chemistry Division, together with a more
definite line of dem ark ation between the two classes of distilleries
and certain improved methods of supervision of these distilleries, will,
it is believed, to a large extent eliminate the opportunity for frauds
at these plants and give the bureau the same control over distilleries
of this class that it now has over the sweet-mash distilleries.
TRUIT D I S T I L L E R I E S .
I t has developed that there is a need of better supervision of
fruit-brandy distilleries. During the year considerable frauds were
detected at certain of these distilleries, often by chemical analyses
showing the illicit use of sugar. The bureau has now under consideration certain changes in regulations and certain improvements
in the method of supervising these establishments by which it is
believed fraud will be effectually checked, while legitimate manufacturers will be able to operate without unnecessary restraint.
FERMENTED LIQUORS.
The production of fermented liquors during the year was 59,544,775
barrels, as against 56,364,360 barrels the previous year. The number of breweries operated was 1,568, as against 1,622 the previous
year.
INTERNAL REVENUE.
461
No serious frauds in connectibn with fermented liquors were discovered during the year.
The bureau has under consideration the determination of the status
of certain manufacturers of a product known as ^^near beer,'' which
product contains less than one-half of 1 per cent of alcohol. Under
the ruling at present in force in this bureau manufacturers of this
product are exempted from special tax, the product itself is exempted
from the barrel tax, and dealers therein are required to pay no special
taxes. Field investigations are now under way and the matter of
properly determining the status of such manufacturers and their
product, and dealers therein, will be reopened and reheard.
The receipts from taxes on manufactured tobacco, snuff, cigars, and
cigarettes for the fiscal year ended June 30, 1910, amounted to
$58,118,457.03, an increase of $6,231,278.99. / This increase was along
the entire line of tobacco products subject to taxation.
Under the tariff act of August 5, 1909, the rate of taxation of. manufactured tobacco, snuff, cigarettes, and little cigars was considerably
increased, effective July 1, 1910. New regulations and a complete
new issue of stamps were gotten out in order to carry this legislation
into effect.
On account of certain tax exemptions provided for under this act
a new class of leaf-tobacco dealers was created who are permitted to
sell leaf tobacco free of tax. Sufficient time has not yet elapsed to
determine how this legislation will affect the receipts from the taxa.tion of tobacco products.
During the past fiscal year there were no very important violations
of law discovered among manufacturers of tobacco products, but
there were a great many minor offenses, confined almost exclusively
to small manufacturers of cigars and cigarettes. On account of the
impossibility of accurately following and checking the use of individual stamps, detection of these offenses is very difficult. The bureau
has now under consideration the adoption of some process, by perforation or otherwise, to properly identify the individual stamps so
that their re-use can more easily be detected.
There were in operation during the calendar year 1909 (the latest
information available) 22,912 cigar factories and 572 cigarette factories, this being an increase of 44 cigar factories and 21 cigarette
factories over the previous year.
P H I L I P P I N E TOBACCO P R O D U C T S .
Under section 5 of the tariff act of August 5, 1909, and the opinion
of the Attorney-General under date of November 12, 1909, the
Bureau of Internal Revenue provided for the collection of internalrevenue taxes on the tobacco, cigars, and cigarettes imported into
the United States from the Philippine Islands and accounting for
such collections as a separate fund to be turned over to the government of the Philippine Islands. Under this act this bureau collected
on tobacco products imported from the Philippine Islands, as a separate account to be turned over to the Philippine Islands treasury in
accordance with the opinion.of the Attorney-General, the sum of
462
REPORT ON T H E FINANCES.
$265,171.80. Thirty-six thousand and sixty-six dollars arid thirtysix cents of this sum was received by collectors of internal revenue
in the United States, and $229,105.44 from stamps sold through the
regularly designated stamp agent in the Philippine Islands and affixed
there in order to facilitate shipments.
Complaints were received at this office from the tobacco trade
generally, protesting against the use of an official label attached to
tobacco products imported from the Philippine Islands, which label
purported to be a government guarantee ot the grade of cigars, the
sanitary conditions of the factories where the same were made, and
of the operatives producing such products. I t was very difficult to
convince the tobacco manufacturers of the country that the Treasury
Department had no jurisdiction over this matter, but that it was a
matter to be dealt with solely h j the War Department and the
insular government. In spite of all the pubhcity that has been
possible to give to this fact, the receipt of complaints, oral and written,
in regard to the use of this label, even in its modified form, is of very
frequent occurrence.
SPECIAL E X C I S E TAX ON C O R P O R A T I O N S .
Attention was called in the report for the fiscal year 1909 to the
enactment of the special excise tax on corporations, found in paragraph 38 of the tariff act of August 5, 1909. The work of preparing
and having printed the necessary forms, regulations-, returns, etc.,
was completed in good time, and the necessary field aiid office work
of listing the corporations, etc., was done in like manner throughout
all the collection districts. Special commendation is due to the
employees of this bureau engaged in this work, and to collectors and
their forces throughout the country. The amount of detail work
involved in the preparation for the first year's collection was very
great, and employees of this bureau and collectors and their forces
throughout the country worked in a most cheerful and enthusiastic
manner day and night, Sundays and holidays included, in order to
complete the work within the limits prescribed by the statute. The
comparative ease with which this tax has been collected is largely
due to the thorough and conscientious manner in which this preparatory work was performed.
On the original lists there appeared the names of something over
400,000 corporations, but the records of many States had not been
kept in such a manner as to show which companies had completed
their organizations and which not, or which had subsequently gone
out of business, and in many cases insufficient data was secured to
show which corporations were exempted under the provisions of the
statute. Upon final revision of the lists it was found that 262,490
corporations were liable to the provisions of this tax. The canvassing of districts by revenue officers, now in progress, may slightly
change these figures.
The total collections from this source to October 1, 1910, have been
$26,872,270.26, of which $20,959,783.74 was collected during the
fiscal year 1910, and $5,912,486.52 subsequent to that date.
Legal proceedings have been instituted against a small number of
corporations which to this date have refused to file the proper return,
or Jbiaving filed the proper return refused to pay the assessment
INTERNAL REVENUE.
463
thereon. There was some delay on the part of corporations in making
the returns, due to the belief on the part of some tnat Congress would
take action looking to a postponement of the collection of the tax,
and the further belief on the part of others that the failure of the
Supreme Court to pass on the cases instituted to determine the constitutionality of the tax might in some way postpone collection.
The penalties collected for the fiscal year on this account, approximating $123,000, are therefore believed to be abnormal. Upon the
whole, the tax has been collected with as little difficulty or friction
as has been occasioned by the collection of any internal-revenue tax.
OLEOMARGARINE.
During the fiscal year ended June 30, 1910, there was produced
135,685,289 pounds of oleomargarine free from artificial coloration
and 6,176,991 pounds of the product artificially colored, or a total of
141,862,282 pounds, as against a total of 92,282,815 pounds during
the previous fiscal year, showing an increase of 49,112,775 pounds
in the uncolored and 466,690 pounds in the colored, making a total
increase of 49,579,465 pounds over the former year. The withdrawals
tax paid amounted to 135,159,429 pounds of uncolored and 3,416,286
pounds of the colored product, or a total of 138,575,715 pounds, as
against 89,497,278 pounds for the fiscal year ended June 30, 1909,
being a total increase of 49,078,437 pounds over that year.
These figures show that the prodiiction and withdrawals taxpaid
of oleomargarine during the fiscal year 1910 were the largest smce
the inception of the original law imposing a tax upon the regular
sale and manufacture of this product. During the nscal year 1902,
the banner year under the oia law, there was produced 126,316,427
pounds, and withdrawn taxpaid 123,126,636 pounds. From the
revenue standpoint, however, the results for the past year are disappointing; the tax collected for the fiscal year 1910 amounting to
$689,856.42, an increase of only $50,996.09 over the fiscal year 1909,
while under the old law in 1902 there was collected on a smaller production the sum of $2,462,532.72. The small increase in tax collections during the fiscal year 1910 as compared with those for the fiscal
year 1909 is due to the decreased amount of oleomargarine taxpaid
at the rate of 10 cents per pound.
Exports of the colored product showed an increase of 317,302
pounas, while there was a decrease of 15,383 pounds in the uncolored,
or a net increase of 301,919 pounds in the exportations for the fiLscal
year ended June 30, 1910,, over the former year.
A great increase is shown in the number of retail dealers during
the year, there having been issued 2,761 special-tax stamps covering the
sale of the artificially colored and 42,029 for the sale Or the uncolored
product, making a total of 44,790 retail dealers as against a total of
25,040 for both classes during the fiscal year 1909.
During 1910, 40 wholesale dealers paid special tax to engage in
the sale of colored oleomargarine and 577 for the uncolored, a total
of 617, an increase of 213 dealers in these classes as compared with the
previous year.
There was no let up in the activity of officers in the field in detecting and investigating violations of this law, but it is probable that
those discovered represent but a small portion of the offenses com
464
REPORT ON T H E FINANCES.
mittfed and remaining undetected. A total of 2,754 violations of the
various sections of the law and regulations were reported, involving
166 cases of illicit manufacture or attempts to evade payment of
the 10 cents per poun.d tax on the artificially colored product. There
were 95 violations "by wholesale dealers and 2,493 by retail dealers,
consisting principally of failure to pay special taxes; packing contrary to law; failure to mark and brand the product sold; failure to
destroy stamps on empty packages; and removal of stamps, marks,
and brands from original packages. A large number of prosecutions
have been instituted throughout the country. There have been some
convictions and a number of indictments are pending at this time.
In addition to sentences of imprisonment in a number of cases, a
total of $80,428.53 was recovered through fines, compromises, and
assessments of special and stamp taxes.
Attention was called in the report of 1909 to the defects in the
oleomargarine statutes as construed by the United States courts.
The existence of these defects has been even more markedly demonstrated during the fiscal year just closed. I t would appear that if
this law is to be satisfactorily administered, either as a revenue measure or as a measure to protect the public in its purchases, remedial
legislation is absolutely essential. Various representatives of the
internal-revenue service attended the extended hearings before a
comriiittee of Congress at the last session and testified in detail as
to the existing defects. I t is respectfully requested that Congress
be urged to pass at the present session a law which can be better
enforced.
ADULTERATED
BUTTER.
During the past fiscal year there were 133 cas.es reported against
manufacturers of butter for putting adulterated butter, as defined
by the act of May 9, 1902, on the market, and there were alsp 13 cases
involving wholesale dealers and 43 cases involving retail dealers in
these violations. There was collected from this source during the
fiscal year 1910 the sum of $37,350.70, as against a total of $38,450.70
for the fiscal year 1909.
RENOVATED
BUTTER.
There was a slight increase in the production of renovated butter
during 1910 over that of 1909, and a small decrease in the withdrawals
tax paid. Violations of the law relating to renovated butter were
very few and of little consequence.
FILLED C H E E S E .
A small increase is shown in the operations in filled cheese during
the year 1910 as against the fiscalyear 1909. All of the product
manufactured and tax paid was exported from this country.
MIXED
FLOUR.
Operations in mixed flour show an increase for the year ended June
30, 1910. As a revenue measure this law is of little value, the collections thereunder being practically nothing, but for the purpose of
preventing adulteration of flour it has apparently been entirely sue
INTERNAL REVENUE.
465
cessful, as no violations of this character have been discovered. All
the product manufactured, tax paid, and marketed as mixed flour
consists of compounds or prepared blends of cereals for certain special
culinary purposes and not for use as ordinary flour.
D E N A T U R E D ALCOHOL.
The withdrawal of distilled spirits free of tax for denaturation
showed during the year a considerable increase, 10,598,749.2 gallons
having been withdrawn for this purpose during the fiscal year 1910,
as compared with 7,971,636.4 gallons for the fiscal year 1909. No
industrial distilleries are in operation, however, and no considerable
amount of denatured alcohol has been used for purposes other than
in connection with certain lines of. manufacturing. I t appeared,
therefore, unnecessary to keep up a separate organization forthe supervision of this business, and Congress was requested to provide for a
small number of employees on the regular roll, which was done, and
the appropriation of $200,000 per annum that had heretofore been
made to carry on this work was not continued.
The use of denatured alcohol in manufacturing will, it is believed,
continue to increase, and should manufacturers succeed in reducing
the price of this product to a point where it can successfully compete
with petroleum products its use would undoubtedly be enormously
extended.
CHEMISTRY.
The efficiency of the bureau in its work iri connection with distilled
spirits (including denatured alcohol), fermented liquors, oleomargarine, and various butter products, has been greatly improved by the
extension of the work of the Division of Chemistry. During the year
7,670 samples from field officers were received and analyzed. I n addition thereto, considerable experimental work in connection with distilled spirits, fermented liquors, wines, and other alcoholic beverages
has been done, particular attention having been paid to analyses of
patent medicines and preparations containing alcohol to determine
whether or not such preparations are sufficiently medicated to render
them unfit for beverages.
The chemists employed in this bureau are called upon as witnesses
in United States courts in all parts of the country to testify for the
Government as chemical experts, and district attorneys generally
,throughout the country have spoken in very commendatory terms
of their service in this regard.
CLAIMS.
During the fiscal year ended June 3'0, 1910, there were received
6,901 claims of all kinds, aggregating in value $1,837,743.90. During
the same period 6,023 claims were acted upon, leaving pending
July 1, 1910, 2,226 claims, the greater part of which are held awaiting evidence or completion in other respects, or are held pending
decision of the Supreme Court on questions of law involved.
There were on hand at the close of the fiscal year 1910, 842 claims
for the refunding of legacy taxes, amounting to $4,677,915.31. Practically all of tliese were held awaiting decisions of the Supreme
65872°—PI 1910
30
466
REPORT ON T H E FINANCES.
Court under the principles of law announced in Tilghman v. Eidman
and Union Trust v. Westus & Allen.
No legacy claims have been allowed except for the refunding of
taxes upon remainder interest falling clearly under the decision of the
Supreme Court in the Vanderbilt case. The allowance in this class
of cases amounted to but $65,692, covering in whole or part 61
claims, the rejected balances of which amounted to $65,000. Iri
addition thereto there were 35 claims rejected in toto, amounting in
round numbers to about $80,000.
All legacy tax claims now pending are held for final decisions of
the Supreme Court, interpreting the principles announced in the
cases aforesaid.
Claims pending under the Tilghman doctrine, not barred by the
statute of limitation, amount to $1,137,580. These claims will all
be disposed of favorably to the Government in accordance with the
decision of the Supreme Cburt in Hertz v. Woodman, decided May 31,
1910. The remainder of legacy tax claims are held awaiting a
decision of the Supreme Court as to the legality of tax on estates
for life and years, which decision is expected sometime during present
fiscal year. These claims aggregate a little more than $2,700,000.
There have been received in connection with the special excise tax
on corporations, imposed by section 38 of the act of August 5, 1909,
2,022 claims for abatement of the assessment and 782 claims for
refunding amounts paid. Up to October 1, 1910, 1,856 abatement
claims had been acted upon, leaving 236 to be considered, and 665
refunding claims had been acted upon, leaving outstanding 117.
LAW DIVISION.
On July 1, 1909, there were pending 303 civil cases and 4,376 criminal cases growing out of internal-revenue laws. During the year'
there were instituted 100 civil and 4,019 criminal proceedings. On
June 30, 1910, there were pending 255 civil and 4,040 criminal cases,
148 civil and 4,355 criminal cases having been disposed of. In addition to the court cases handled, numerous reports of violations from
officers in the field were received and examined and during the fiscal
year 1910 5,180 compromise cases growing out of such violations in
this or previous years were acted upon.
The total number of seizures reported during the last fiscal year
was 3,184, as compared with 2,725 during the year previous.
The number of cases of destruction of stills and distilling apparatus
reported for the six months ended June 30, 1910, was 1,061, as compared with 721 for the previous six months. Most of these cases
were in the States of Georgia, Alabama, and North and South Carolina.
All of the various legacy-tax cases growing out of the War Revenue
Act of 1898 have now been decided, except those cases involving
the question of the legality of the tax on estates for life and years.
A test case is now pending in the Supreme Court and an early decision
is hoped for.
. A new compilation of the internal-revenue laws is in course of
preparation and will be isued as soon as practicable.
INTERNAL REVENUE.
467
STAMPS.
During the fiscal year 1910, 3,166,987,749 internal-revenue stamps
of the value of $290,337,675.70 were d,elivered to' collectors of internal revenue. This was an increase of 17 per cent in ntimber and
upward of 10 per cent in value, as compared with the previous fiscal
year.'
• ^'
^
• This increase was in a degree due to the changes in the rate of tax
on tobacco, snuff, and cigarettes under the act of August 5, 1909,
effective July 1, 1910, which resulted in large shipments during the
months of June and Jul}^' of stamps of both the old and new series of
the classes affected. This act increased the rate of tax on tobacco
and snuff from 6 cents per pound to 8 cents per pound. I t also made
a rate of $1.25 per thousand on cigarettes in lieu of the 54 cents and
$1.08 tax formerly levied and increased the rate on large cigarettes
from $3 to $3.60 per thousand. The tax on small cigars was fixed
at 75 cents per thousand instead of 54 cents.
The new law also increased the number of denominations of tobacco
stamps from 9 to 22 and of snuff stamps from 11 to 22 and authorized
stamps for fives and tens cigars $3 per thousand and stamps for fives,
eights, and fif teens cigarettes and small cigars. The If and 3 J ounce
)ackages for tobacco and snuff were discontinued, and the stamps
or those classes now progress by one-quarter ounces, running from
one-half to 16 ounces, the fractional ounces stopping at 3|-ounce
stamps.
Under an agreement entered into by the Secretary of the Treasury
and the Postmaster-General the Internal-Revenue Bureau is now
forwarding all its stamps in registry pouches direct from the stamp
vault to the various collectors and stamp deputy collectors of internal revenue throughout the country, covering some 116 points of
destination. While this service has entailed additional labor, not
only upon this bureau but in the collectors' offices, the work has been
done in a thoroughly satisfactory manner and will no doubt prove
to be a step in the line of wise and economical administration. During the first three months of the fiscal year 1911, 39,155 packages of
stamps, averaging approximately 16 pounds to the package, were
thus forwarded by registered mail. This was an increase of 4,933
packages over the corresponding period of the fiscal year 1910.
f
REVENUE AGENTS.
The activity of the revenue agents and other officers in the field
during the past fiscal year is worthy of high commendation. There
were reported during the fiscal year 5,100 violations of internalrevenue laws, as compared with 4,039 violations in the year before,
aild the total number of seizures reported during the past fiscal year
was 3,184, as compared with 2,725 during the year previous.
ILLICIT
DISTILLING.
All of the agents force available for raiding has been used during
the year in detecting ilHcit distilling, which practice has increased
steadily, especially in those states wliere state-wide prohibitory laws
468
• REPORT ON T H E FINANCES.
have been enacted. During the fiscal year 1910 there were seized
and destroyed 1,911 distilleries, as compared with 1,743 for the fiscal
year 1909. In raiding these distilleries last year one officer was
killed, 3 seriously wounded, and there were a number of minor casualties. Most cases of illicit distilling are found in the states pf Alabama, Georgia, North and South Carolina.
RECOMMENDATIONS.
(1) Considerable complaint has been received from the collectors
and officers of internal revenue throughout the country on account of
the fact that their compensation is not as great as that received by
officials holding similar positions in the customs service or in the
postal service. An examination would indicate that this complaint
IS well founded. I t is recommended that a careful investigation be
made of this matter and, if found to be correct, that Congress should
be asked to reclassify the salaries of collectors so that a collector of
internal revenue whose receipts exceed $1,000,000 should be paid
$6,000; that the mininium salary paid a collector be $3,000; that
all fees and allowances for territorial extent or otherwise be abolished, and that the salaries for collectors ranging between the
minimum and maximum be based on the same proportionate scale
in accordance v/ith the scale of collectors as at present.
I t is recommended that the chief deputy in each collector's office
be paid an amount not to exceed 50 per cent of the amount received
by the collector. I t is recommended that the cashier in the office of
each collector be paid an annual compensation not to exceed 40 per
cent of the amount received by the collector. The lack of a fixedscale of compensation in oflices of these grades is a source of annoyance and is believed to be detrimental to the best interests of the
service.
O T H E R THAN TAX-PAID SPIRIT STAMPS.
(2) Enormous quantities of stamps are used by rectifiers, wholesale liquor dealers, and distillers for which no charge whatever is
made. In addition to furnishing the stamps free of cost, the Government assumes all the expense of their transportation and distribution, the gauging and stamping of rectifiers' packages, and the
issue, recording, and handling of wholesale liquor dealers' and transfer stamps. The actual cost to the Government in connection with
these classes of stamps is no inconsiderable item. Attention has
been called in previous reports of this bureau to this burden placed
on the Government, and recommendations have been made for legislation requiring the payment of a small sum per stamp by the users
of the same, sufficient at least to meet the cost of printing, handling,
and affixing, and the gauging of spirits at rectifying establishments.
After a careful examination of the matter I am of the opinion that
a charge of 10 cents each would be sufficient to meet these expenses
and leave a small margin in excess.
By reference to the annual report for 1905 the statement will be
found which shows the relative number of these classes of stamps
used at that time, and it is safe to say that the number being used
at this time is largely in excess of that for 1905. I therefore recom
INTERNALREVENUE.
469
mend t h a t legislation be requested placing a charge of 10 cents each
on stamps for distilled spirits other than tax paid.
(3) Attention has heretofore been called to the difficulty in administration of the oleomargarine law owing to defects in the statute,
and especially the impossibility of the enforcement of the collection
of the dual rate of tax.
To remedy existing evils developed in attempts to enforce the
provisions of the act of August 2, 1886, as amended by the act of
May 9, 1902, it is recommended that legislation be requested for the
enactment of a law taxing oleomargarine at a single rate. I t is
practically impossible to collect the higher rate of 10 cents per pound
when oleomargarine of a different class is taxed at one-fourth cent
perpound. The induceinent for fraud in the classification of the
product results in great loss to the Government.
(4) Under existing law internal-revenue agents are not empowered to administer oaths. In the execution of their duties it is often
necessary to procure sworn statements of individuals for use as evidence in the prosecution of frauds. Not being authorized to administer oaths, the revenue agent must call for the services of a deputy
collector of internal revenue, or take the person before some othef
officer endowed with power to admiiiistcT oaths. This process causes
loss of time and expense, and frequently defeats the purposes of the
investigation.
I would therefore recommend that Congress be requested to amend
section 3165, Revised Statutes, so as to include revenue agents and
inspectors among the officers authorized to administer oaths in matters relating to the execution of internal-revenue law^s.
^(5) Outage or wantage.—Section 50, act August 28, 1894, as
amended, contains a tabulated statement known as the Carlisle
tables, setting forth the maximum amount at various ages that can
be allowed on any package of distilled spirits held in bond. The
records of this office show that the amounts allowed are not in accord
with the actual wantage due to evaporation in warehouses under
modern methods of aging spirits. Due largely to this statement of
facts, the'offense of equalization has been very prevalent. I am of
opinion that that section should be revised and amended and a new
table of allowances compiled in accordance with the actual losses
sustained by evaporation or causes without the neglect of the owner
of fhe spirits, as disclosed by the records of the past fifteen years.
(6) Substitute officers.—UndeY section 3153, as amended by act
August 15, 1876, storekeepers, storekeeper-gaugers, and gaugers are
appointed in accordance with civil service regulations b y t h e Secretary of the Treasury upon the recommendation of the collector
of the district in which they are to be employed. The number of
these officers iieeded in each district in which distilling and warehousing of distilled spirits is done, fluctuates considerably. Under
section 1, act March^3, 1885 (appropriation act for 1886), a collector
is authorized to carry on his roll surplus officers not to exceed 15 per
cent of the number employed. Owing to the necessity for this excess
of officers and the regulation of this department t h a t the work shall be
distributed among all the officers as equitably as possible, and of the
further fact that these officers are paid on a per diem basis only when
under actual assignment, it is very difficult for a collector to avoid in
470
REPORT ON THE FINANCES.
some cases working hardship and laying himself open to the charge of
injustice or partiality in making assignments or continuing particular
officers at work for longer periods than other officers. To avoid this
trouble in the future, I have the honor to recommend that the method
of employing these officers be changed so that instead of being appointed
a storekeeper, storekeeper-ganger, or gauger, the officer shall first be
appointed a substitute, and no more regular officers be appointed
until the number of officers in each district shall have been reduced
to the needs of the service, and that all temporary or emergency
work be performed by such substitute officers. In this way the complaints of injustice and partiality will be largely avoided, the officers
will become experienced in their duties before being put on regular
assignments, and a collector will have opportunity to weed out persons who will not become efficient. I am of opinion that the change
suggested is badly needed, and I have the honor to request that the
necessary legislation be recommended for enactment.
:\'.
.<:
:i:
:j:
^J
•
•
Respectfully,
ROYAL E . CABELL,
Gommissioner of Internal Bevenue.
• Hon.
F R A N K L I N MACVEAGH,
. .
Secretary ofthe Treasury.
NOTE.—For details of the report of the Commissioner of Internal Revenue, see his
annual report.
*
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