Conversion of United States 2 per cent bonds. Section 18 of the Federal reserve act became fully effective and operations therein authorized were inaugurated during the year. The first conversions were made on April 1, 1916. The following shows the transactions to date, July 1, 1916, conversions being included: The monetary operations of the Government have been conducted through the Treasurer of the United States, 9 assistant treasurers of the United States, the treasurer of the Philippine Islands, the American Colonial Bank of Porto Rico, 12 Federal reserve banks, and 1,368 national-bank depositaries. The 12 Federal reserve banks were designated as depositaries of public moneys and as fiscal agents of the United States, to take effect January 1, 1916. The amount of public moneys held by the bank depositaries on June 30, 1916, including the public funds to the credit of the Treas urer's general account, United States disbursing officers, and money in transit was $178,536,175.57, an increase of $85,205,648.68 since June 30, 1915. On June 30, 1916, there were 774 regular depositaries, including the Federal reserve banks, and 607 temporary depositaries; 26 were designated during the year and 264 were discontinued. On November 1, 1916, the total number of depositaries, including the Federal reserve banks, was 1,375 and the amount held by them was $69,112,968.16. DIVISION OF BOOKKEEPING AND WARRANTS. The fiscal transactions recorded upon the books of this division during the fiscal year ended June 30, 1916, were as follows: Receipt accounts-customs, internal revenue, public lands, miscellaneous, Panama Canal receipts from tolls, etc., and public debt receipts to the number of 880, and appropriation accounts for all executive departments, other Government establishments, and the District of Columbia to the number of 6,600, have been credited and charged, respectively, with all warrant entries affecting the receipts and disbursements, and the results exhibited in the annual reports of the department. Seven thousand four hundred and fifty active accounts of collecting and disbursing officers of the Government were carried in the fiscal officers' ledgers of the division, recording their transactions as to collections and deposits of public moneys, and of expenditures made from moneys advanced to them. Appropriation warrants have also been issued to the number of 478, crediting detailed appropriation accounts with amounts provided by law for disbursement. Warrants in the amount of $1,607,652,590.74, representing receipts of $840,986,950.27 and net disbursements of $766,665,640.47, including Panama Canal and public debt transactions, less bond exchanges of $10,290,600 not affecting the general fund balance, were credited and charged, respectively, to the general fund of the Treasury. Warrants representing $418,935,397.06 were issued for adjustment of appropriation accounts, largely for the detailed naval accounts against "general account of advances," without affecting the general fund. Warrants representing $820,117,102.88 were issued during the first four months of the year for receipts and redemptions of certificates and notes not entering into the general-fund account, the moneys involved being held for redemption of the certificates and notes for which the funds are respectively pledged. Beginning November 1, 1915, these transactions were adjusted without the issue of warrants therefor. The following table exhibits the totals of the receipts and disbursements of the year for the general fund: This shows an excess of ordinary receipts over ordinary disbursements of $55,171,553.59, and an excess of all receipts over all disbursements of $74,321,309.80, taking into account public debt transactions and payments from the general fund of the Treasury during the year of $17,503,728.07 for the Panama Canal without sales of bonds, offset in part by receipts from Panama Canal tolls, etc., of $2,869,995.28. The general fund. General-fund balance subject to warrant June 30, 1915, exclusive of disbursing officers' credits of $49,267,984.36, revised... Add receipts: Ordinary. Panama Canal.. Public debt.. Total receipts.... Deduct disbursements: Ordinary.. Panama Canal.. Public debt... Total disbursements.... $104, 170, 105. 78 $779, 664, 552. 49 2,869,995. 28 58,452, 402. 50 840, 986, 950. 27 945, 157, 056. 05 724, 492, 998. 90 17, 503, 728. 07 24, 668, 913. 50 766, 665, 640. 47 178, 491, 415. 58 General-fund balance subject to warrant June 30, 1916, exclusive of disbursing officers' credits of $55,129,185.82, revised .... State bonds and stocks owned by the United 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: A history of these State stocks and bonds is given in House Document No. 263, Fifty-fourth Congress, second session. SECRET-SERVICE DIVISION. Four hundred and seventeen persons were arrested during the year for violating the counterfeiting and other laws relating to the Treasury Department. California contributed the greatest number of arrests. The expositions at San Francisco and San Diego no doubt were responsible for this increased activity. Twenty-one new counterfeit-note issues were discovered in circulation, only three of which, however, were circulated to any extent, the others being quickly suppressed by the arrest of the makers and the seizure of the "plants." Counterfeit notes, amounting to $44,827.98, were captured or confiscated, and unauthorized issues of Mexican currency aggregating 1,096,949 pesos were seized. Twenty-three thousand seven hundred and one dollars and eightyfive cents in counterfeit coins, 210 note plates, 24 sets of dies, and 241 coin molds were seized. Agents of the division were from time to time detailed to investigate violations of the laws relating to customs and internal-revenue frauds, thefts of Government property, forgery of Government checks, fraudulent claims, and other Treasury matters. One of these cases resulted in the arrest of the men who burglarized the vault in the internal-revenue office at St. Paul, Minn., and the recovery to the Government of more than half a million dollars worth of documentary stamps. The field agents of the service are commended for their loyalty and industry, and acknowledgment is made of the hearty cooperation of local officers throughout the country. DIVISION OF PRINTING AND STATIONERY. Printing and binding. The expenditures for printing and binding for all the offices and bureaus of the Treasury Department during the fiscal year 1916 totaled $385,049.88, as against $408,186.35 for the previous year, showing a net decrease of $23,136.47. The subjoined table shows the cost charged to each of the various offices and bureaus, together with the respective increases and decreases in each. |