UNITED STATES' BIG GOLD PILE by Springfield Republican

Pacific Press Publishing Company · Mountain View, California · Jan 10, 1906

UNITED STATES' BIG GOLD PILE.

By Springfield Republican

No Other Government Has Ever Held So Much of the Precious Metal.

THE treasurer of the United States, in his annual report for the fiscal year 1905, says: There is an increased demand for more paper currency of the denomination of $10 and under, owing to the expansion and development of the business interests of the country. The treasury has partially supplied the needs by redeeming and retiring notes of the larger denominations and issuing those of the smaller. For the past two years the expenditures of the government have been in excess of the revenues to the aggregate amount of more than $64,000,000. This, however, included the extraordinary expenditure in 1904 of $50,000,000 on account of the Panama Canal. This is the first year in the past six years when the ordinary expenditures were in excess of the revenues. The amount was $23,004,228. The available cash balance June 30 last of $145,477,491, largely the accumulation of former years, is deemed adequate to meet the demands upon the treasury for some time to come.

The coinage of silver dollars was discontinued during the year, owing to the exhaustion of the silver bullion available. The stock of this coin in the country June 30 last was $558,815,865, exclusive of $9,413,000 of such coin held in the treasury against outstanding treasury notes. The amount of silver dollars in circulation June 30, 1905, was $73,584,336, as against $71,313,826 the twelve months before. It is estimated that the maximum circulation of silver dollars has been reached. The total number of these dollars received annually at the treasury office is about $50,000,000, and of this amount for the coming years it is estimated that more than $600,000 annually will be in worn and abraded coin unfit for circulation.—Springfield Republican.