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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Dec. 9, 1908)
THE OREGON DAILY JOURNAL. PORTLAND, WEDNESDAY EVENING. DECEMBER 8, 1908. LARGE DEFIGIT CONFROHTS COUfJTRV Xcarly Sixty Millions in Ex cess of Receipts, Says Sec retary' of Treasury Cortel you Fiscal Year Short age of 1910 to- Ik Greater. Washington. Dec. 9. According to the anirial rrtof fiearetary of the Treaa ury George B. Cortelyou, presented to congress today, the fovernirient expen diture for the fiscal year ending June 10. 1908, exceeded receipts oy m sum nt irr dt m.6. This-Is a marked ro- rsrsai of condition from the previous year, when receipt exceeaei) aiaouw menta by 84.326,68 SO. A still greater deficit Is anticipated for the present fiscal year which will end next June. For this period Beere . tary Cortelyou estimates that expendl- ... ... . . M i t . J AAA turea wJU exceed receipts vy iit.vvv, AAA An eveh Maier Iclt is expected for the fiscal year ending June su, hid, as the estimated requirements of the .various departments of the government are already more than $143,000,000 in excess of estimated revenues. Tho rtpflHt for the last fiscal year is attributed to increased appropriations by oongreBS and to the unusual expendi tures entailed by the recent panic. The report says- . . . - Operation of the Treasury. i "The reeetpts -and disbursements of -the government for the fiscal year 1908 show a reversal of condition as com pared with the fiscal year 1907: For the fiscal year 1907 the receipts were $84. 236.686.30 in excess of the disburse ments; for the fiscal year , 1908 the dls--bursemen-ts were J5i.070.201. 15 In ex cess of the receipts, due to business depression .and Jncf eased appropriations. "Fortunately, the available cash bal ance at the beginning of the fiscal year was $272,061,445.47. , "The treasury was called upon. In the latter '-part of October, 1907. to render assistance fn the financial panic which, starting in New Tork City, gradually ex tended over the entire country. "Through these operations the amount of public deposits . with banks reached $236.4,i21.0S -November SO, 1.907, and on December 27, 1907. the maximum' of $269,894,271.77 was attained. after which it was decreased to $266,920,164.70 by the close of the month. Further withdrawals were soon aftr begun -and" continued" ffonv tlma to' time until on November 16. 1908, the amount stood at $n8,3J.a. "In the month of January, 190K, there was -a. frfer. circulation .of money than had prevailed for the previous three months. . large ampunts were returned to the money centers, and some of the fleiJosftaries therein voluntarily returned to the treasury a part of their holllnfcs of public deposits. In amount $3,978,217. In- the latter rant . of January- a call was mafie on the depository banks of jnbw lorn cny tor ib.sau.poo, to be paid In six equal installments, from and after January 23. The balance In the banks to the credit of the general fund t the end of. January was $226,341, 4 18. 85. "During the month of February de pository banks voluntarily returned to the treasury lf.770.O04 of public de posltst and February 1 29 the balance with the banks to the credit of the general fund was $219,543,719.13. On June 30, it was reduced to $149,004, 924.29. ' "Transactions In flie -public debt show an Increase of interest bearing debt of $2,669,710 for -the -fiscal' year. How ever, if the issue of Panama canal bonds were excluded.- a 'net decrease In "the Interest-bearine debt would be shown of $21,962,270. The nonlnterest bearing debt was Increased $27,842,500, as fol- low: ..... .... "Matured loans, not yet pre sented . $ 8,043.200 National hank notes, redemp tion acceunt 24, 800.4 0 Less fractional deemed currency re- $27,843,680 1,180 Net $27,842,600 "The aggregate of trust funds, con sisting of gold coin and standard sliver dollars, h?ld for the redemption of cer tificates and notes for which tlipv are respectively pledged, increased $139 106 "000 during the vear. The lnrrease In gold coin was $141,639,000, whUe stand ard sliver dollars decreased $2,433,000. Monetary Stock. t, "The monetary stock increased $263, 303,013 during the fiscal vear. The growth in gold was $1 51,744,391; In sil ver, $17.919 395; and In national bank . notes, $94,545,227. while there was a decrease of $1,006,000 In treasure nntei Of 1890. At the close of the fiscal year 1908 the money in circulation imnuiiti to Sft.038.015.488, or a per -aplta of $84.72. The percentnge of goM to total circulation was 45.95 ; "The lsu of Vnifed States paper currency during the fiscal y. ar num ' ; bered 188.999.912 pieces, of the total value of $804 326,000. The redemptions . $665,220,000. Gold certlflrntos ntit- f standing Increased $141,639,000. while silver certificates decreased M 47 flnn j 'There was an lnerase of $94 545 ' "'7 , W the volume of national hank notes i during the past fiscal vrar. The amount ? resented for redemption was J34J f'A -41, as against $240,314,6S1 f,,r '1 307 , The expense incurred for such redemp tions were $270,840.21, which has been assessed on the banks at the rate of $0.90366 per $1000 of notes redeemed. "The United States bonds pledged to secure circulation amounted to $628, 172.130 June 10, 1908, an Increase of $69,807,470 during the fiscal year. The United States bonds and other obliga tions on the same date held to secure public 'deposits In national banks aggre gated $180,509,419.25. a decrease of $12, 734. 633.63 for the year. - . "The moneys presented for redemp tion and exchange at the treasury and Fiibtreasuj-v offices during the fiscal year ISO amounted to $1,837,826,664 as against J.1.0Z6, 878,500 In 1907. Increase of Currency. "During the last half of the fiscal vear the treasury has been confronted with an extraordinary increase In the I nited t-tates paper currency and na tional bank, notes presented tor redemp tion. 'There was redeemed in December, 1907. of United Slates paper currency, J3O.4S7.0O0; In January, 1908, $48,327,000 was reueemea, an increase or over 68 per centj In February, $60,600,000; iami. Di.foj,vvu; April, 9D0,ut4,uuu; May. $70,476,000. and June. 169 89 000 The Increase for the year was 14.1 ner cent. The same condition was exnoHonced with regard to national bank notes. Of these there was redeemed In December ii.J6,uuo; in January. 143,425,868; reoruary, xzv.kzv.uuu: March. 138.949. MOA- Anrfl ti9 401 AAA. 1.. .is of 4 AAA and June, $45,121,000. The increase of national bank uou-s redeemed for thf, nscai year was 40. t per corn. on June 3D. 1SOS. ovine to an en tirely lnadeouate force of emDloves In the office of the trttaaurer. thnr had accumulated for redemption purposes, of United States paper, currepcy. $1.466, 238; of national bank notes, 161277,880, as compared with $12,377,478 at the close or trie previous fiscal year, an In crease over normal of 403.1 per cent. The amount of bank notes has, however, been materially reduced. On November 16, 1108, the amount was $19,826,669. a reduction of $48,619,985. "The treasury holding of gold st the cioae oi we nscai year ivut "was JU4,- CQ1 TlAlj t.,. aA iani a to $1,004,888,682.18, mix Increase of $100,- I,IDi.Vt. "The redemptions from the reserve fund during the iait fiscal year were. In United States notes, $21,182,827, in treasury notes of 1890, $41,505, a total of $21,224,332. Standard Silver Dollars. "On June 29, 1907, the number of standard silver dollars in circulation was 81,710,444. During the year $31, 466,911 were distributed at sovornment expense, and on June 30, 1908, there were $76,328,667 in -circulation. The amount of subsidiary silver shipped at government expense for transportation was $31,438,830.99. The average rato for transportation was $2.4 6 per $1000. "The available cash balance in the general fund at the close of the fiscal year 1908 was $245,171,808.46, a de crease of $26,889,637.01. "The amount of the interest bearing! debt outstanding October 81, 1908, was Y,2ti3.au, or wnicn the treasurer of the United States held as security for circulating notes and public deposits nonas or tne race value or v iu,899,60. Deducting the $13,936,600 of 8 per cent certificates of indebtedness which were redeemed in November, the amount of interest bearing debt was reduced to $883,317,490." The total public debt at the close of the fiscal year (June 80, 1908), In cluding Interest bearing and non-Interest bearing obligations, and Including also outstanding goia ana silver cer tificates and treasury notes, Is given as $Z,eZ,aU6,X'l.S4. FORBES M MCEjUpOR Massachusetts Man Will Aid Governor Smith in the Philippines. (United Press Leised Wire.) Washington, Dec. 9. The president today sent the following -nominations to the senate: Vice governor of the Philippines. W. Cameron Forbes of Massachusetts. Members of the Philippine oommts lon. Newton Gilbert of Indiana and Itafael Palma of the Philippines. 25 urn niwni flLH DIILII OP FOB LOST (I'nlt.d Press LesMfl Wlrs.) Duluth, Minn., Deo. 9. All hope for tne satety or 26 men comrtrlsing the crew or tne steam rreignter Clemson was abandoned today when 23 hatch covers came ashore near here. A de scription of the covers has convinced the officials of the Provident Steam ship company that they were parts of me ucmson. CHAMBERLAIN WILL NOT DISCUSS POLITICS Rheumatism Csused ?; By Dyspepsia By John K. Lathrop. Washington. Dec. 9. On the same dav with tiie mf-etinir of the conservation conference appeared In the Washington papers a lengthy statement by Senator l-'ulton In which he asserted that Cham berlain's oloction In June was "accom plished by Democratic frauds," through registration of Democrats as Repub licans to vote for Cake In the primary as the weaker man of the two Repub lican candidates to run against Cham-bt-rlaln. Chamberlain's friends here fouRht to avoid a quarrel between Ore gon's governor and senior senator, yielding to Chamberlain's request yes terday not to mar an occasion when goon leenn" otherwise ruled on every fido. Some of them fear, however, that Fulton's alving out a formal statement lays on them the duty of accepting the "L uamc, una n may transpire tnat the facts relating to the entire affair rna(v be given to the public here. -Numerous newspaper men have sought to interview Chamberlain, who contents himself with saying "I have been treated with such fine courtesy In Washington by men of all parties that I must rpfraln from dragging In poll t ics at this time." So Claim Mamy Eminent Doctors Upon Recent Scientific Investigation. j A large school of physicians which is constantlr Increasing, claims that the atlng of too much animal foods creates an over supply of protelds, which are composed of carbon, hydrogen, nitrogen oxygen and sulphur, and that when such protelds are lmperfectlv digosted and go into the blood they create vast quantities of nitrogen which the oxy- i gen from the lungs cannot neutralize and hence results, uric acid and rheu- - tnatlsm and scores of other diseases These protelds do not permit the as similation processes to take placo prop erly and poisoning results all throuch tbe blood However, If such protelds are perfect ly digested they, form a most valuable Part of - our food--.and are hnl,,t, h- necessary to life? . The fault-then j-esta with the stom ach and the digestive apparatus. , Hence it Is claimed by these latter .day authorities that rheumatism arises in in stomacii or tnrougn the stomach and not In the kidneys aa some medical authorities' teach. , Stuart's Dyspepsia Tablet cure dys pepsia, reduce rfotelda to their natural rondttion best taken up by th.s system, triv strength to the blood, rest the stomach and invigorate and renew the gastric- fluids. , pancreatic Juice sad the llrwf tve Organs in gene-mL" Vortr thousand- physicians use these little d'gestera. anfljevery druggist- sells them, hc per box of send us your name nd address and we-will send you a trial r-nrksg b mail free. AriHr. V. A. f-tiisrt Co., 150 Stuart Bids;, Mur-J GERMAN EDITOR ROASTS THE KAISER (United Ptms litrd Wlra.l Berlin, Dec. 9 Declaring that the resignation of Chancellor Von Bulow has been delayed only by the Indecision of the kaiser over what course to pur sue. Dr. Leo l.elpzlger. In his own peri odical, the Weekly Review, scathingly denounces Emperor William In to days Issue. The article declares tt,t ! the emperor la. "now, as always, a vis um ui nis mooas. SEASICK NEVADA MAN A SUICIDE (Tnlted Press Ltued Wtre.) - New York. Dec. 9. Seasick and de spondent because of the rough ocean voyage. Benedict Imdorff of Tonopah, Nev., a second cabin passenger on the steamship Finland, shot and killed him self while the vessel was at sea, on November 30. His death was reported to the authori ties today on the arrival of the vessel. MONTANA'S OFFICIAL PRESIDENTIAL VOTE (Special Dispstrfc to Tbs loanil l 0V. I5-, ,.9-Montnm' official ore: Taft 22.3-33. Rrvan Da Tuk. SELL BONDS OF . THE CITY niOHOAY On the advice from Citv Treasurer Werleln, the ways and means committee ef the council yesterday decided to wait until next Monday to sell the $238,000 worth of Improvement bonds yet re maining of the recent 1300,000 issue. The treasurer assured the committee that if it would agree to take all the bids of 1 per cent or over every Txmd would be sold, as a number of "buyers bad promised to bid for .the enure amount. . Keniamln I. Cohen of the Portland Trust company had bid for 130,000 worth of bonds at par -and accrued In terest He declared that the action vf the committee in rerusing to'uuce sucn bids was not authorised by the charter and that the city's financial reputation Is injured tiy the tactics of ths council man. He said that the bonds are not worth more than par, a statement wnicn was flatly contradicted by Mr. Werlein, who contends that they are well worth a premium of 1 per cent. Tomorrow (Thursday) positively the last day ror aiscouni wesi siae gM Don t OveriooK gas appliance ion. "You Can't Skin Lennon's Kids San Francisco CHAS. F. BERG Portland A. T. LENNON Seattle J. D. LOUGHRY enno?is SI LENNON'S Interchangeable Glove Orders, redeemable at all times at LENNON S stores in San Fran cisco, Portland, Seattle. GREAT UMBRELLA SALE For Holiday Gifts at Lcnnon's Men's and Women's Unioa Taffeta, absolutely guar- Al Q anteed best Paragon frames, $2.50 values. Special. ... tPl X o Men's and Women's Guaranteed Waterproof Silks, beautiful assortment handles to select from, Sfj.OO values. Aa Jf- Special PaJ.tD Mens and Women s Fine Taffeta Silk Umbrellas, f J f $10.00 values -2)4.i7D 500 Boys' and Girls' Waterproof Umbrellas, $1.00 val- ues. Special OC VKBSEL&A8 recovered and re paired on premises at moderate prices trMBKEI.I.AS engraved free of charge. 309 Morrison Street jXmas Snggesti(Di5 ManicuringSets The best assortment in the city. We have hundreds of sets to select from, and of vari ous combinations. Prices $1.50 to $50. Umbrellas arc Always Appreciated We have a splendid line of Umbrellas' for women. Prices $1.50 to $20. 1 MILITARY HAIR BRUSHES 91.00 to $10.00 COMBINATION SHAVING STANDS , ?2.25 to $15.00 FINE SHAVING SETS $1.50 to $15.00 BEST FOUNTAIN PENS $1.00 to $27.50 LEATHER CIGAR CASES 50 to $10.00 CAMERAS' AND KODAKS $1.00 to $00.00 Stationery in Fancy Boxes Comes in all kinds of fancy and beautiful boxes, and contains fine aper of all grades. Prices 351 to $10. Jewel Cases Fountain Pens Kodaks Cut Glass Gloves Perfumes Toilet Sets Belts Pictures Calendars Mirrors and hundreds of others. A Fine Suitcase or Bag Biggest assortment on the coast all kinds, sizes and styles. Prices $3 to $75. A Gillette V Safety Razor u Can be used by any man. Put up in neat boxes. Prices $5.00 to $22.50. FIRST AND MORRISON OUTLET CLOTHING CO. FIRST AND MORRISON Only Tlree Weeks .Moire writes Mrs. Matti Campbell, of Katdiff, Tex- if gulleared tmtoid misery. It is hard to saj where mj worst tuches were, for I ached all over. lAi timp J wished for death to end 1117 suffering. KnaHy I de cided to tabe Cardui, which has stopped my suffering and made my life worth living. I would not bo badrJ like I was, before I took that wonderful medicine, CARDUI, for this whole world rolled at my feet" TAKE lZJZJ Li O H ttS II Will Help You Why suffer female pain, when Cardui, Woman's iceliel, is in every drug store, waning for you to give it a trial! It has helped thousands of others. Why not you! Female pain is a sign of female disease. i v Female disease is a sign of female weakness. Weakness, disease and pain, have been found to disappear, by the use ?f Wine of Cardui . Try it rAll reliable druggists sell it j to take advantage of our slaughter in prices. DON'T WAIT It will pay you to buy NOW if you have to lay them away tor future use. Men's Suits Q or $12.50 to $20 values, NOW tlel Men's Overcoats Qr $12 to $15 values... NOW vfvyO Men's Craveneltes $0 TA $15 to $20 values. . . . NOW VpOU V Men's All Wool Underw'r 7ft o Regular price $1.50 NOW v Boys' Suits Q( qf $3.50 to $5.00 values. NOW yUVW Boys' Suits $ i r $6.00 to $8.00 values .'NOW V jkltl Boys' Overcoats CO c $3.50 to $5.00 values. NOW VMX3 Men's Fiats 13 Off on Regular Rrlce One-Third Off on All Men's Shoes VALUES FIRST AND MORRISON OUT! H-ClOlGjCO. FIRST AND MORRISON N. ISS, Chafln l2T.IIi..eY Vi""' '
