Items of Interest May 14, 1904 Issue

Items of Interest

The monthly statement of the public debt shows that at the close of business April 30, 1904, the debt, less cash in the Treasury, amounted to $918,854,058. The debt is recapitulated as follows: Interest bearing debt, $895,157,440; debt on which interest has ceased since maturity, $2,347,480; debt bearing no interest, $392,268,326; total, $1,289,773,246. This amount does not include $979,999,869 in certificates and Treasury notes outstanding which are offset by an equal amount of cash in the Treasury held for their redemption.

The cash in the Treasury is classified as follows: Gold reserve fund, $150,000,000; trust funds, $950,490,069; general fund, $135,216,270; in national bank depositories, $162,729,006; in Philippine treasury, $5,971,495; total, $1,304,406,842, against which there are demand liabilities outstanding amounting to $1,033,487,653, which leaves a cash balance on hand of $370,919,108.

The United States Canal Commission on May 4 took formal possession of the canal route and of the property of the Panama Canal Company. William R. Russell, the retiring United States Minister to Panama (recently appointed United States Minister to Colombia); Secretary Lee of the United States Legation, and Dr. Pierce, superintendent of sanitation work, were among those present. The canal works will now be under the direction of Major Mark Brooke of the Engineer Corps of the United States Army, who represented the Canal Commission at the ceremony of the transfer. Immediately after the transfer the United States flag was hoisted over the legation and over the canal offices in the Cathedral Plaza.

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