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: Number of banks.. Mar. 14, 1900. June 30, 1909. June 30, 1910. Increase 1900 Increase 1909 to 1910. 3,553 6,955 7,170 $660, 689, 070 $659, 673, 408 $686,974, 880 $254, 402, 730 $30, 246, 666 $689,920,074 $383,762, 040 $459,028,003 a Decrease. $27,913, 720 $713, 430, 733 to 1910. 215 $52,343, 360 $26, 285, 810 $25,843, 605 @ $2,332,946 $23,510, 659 In connection with the statistics herein before 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 the extent of $7,879,820. These increases in assets were attended with an increase in capital 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 in fine 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. 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 was 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, Revised Statutes. Profits on subsidiary silver and minor coins. The profits on the manufacture of subsidiary silver coin 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 of silver con tained in gold deposits, mutilated silver coin, bar charges and fractions, 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 York assay office. The operations of the New York assay office are the same as those of the mints, with the exception that no coinage is executed. It 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. It 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 and 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 and expenditures. The earnings and gains of the mint service during the fiscal year 1910 were as follows: Charges received for mounting, etc., medal fund account. 23, 135. 89 1,914, 747. 88 2,468, 685. 09 2,498. 35 3,069.99 249.63 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. 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..... $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... Wages of workmen and adjusters... 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 coins.... Expenses of medal fund (charges paid, mounting, etc.). Loss on recoinage of minor coin........... Loss on bullion shipped to mints for coinage. Total expenditures and loss..... Annual assay commission. $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 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. 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: RECEIPTS FROM INTERNAL REVENUE IN 1909 AND 1910, AS SHOWN BY COLLECTORS' REPORTS. a Includes $265,171.80 from sale of internal-revenue stamps affixed to Philippine products as provided for in the act of August 5, 1909. Includes $565,524.34 from playing-cards, $434,705.95 from penalties, and $12,667.27 from miscellaneous Bources. 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, |