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.

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The Multiplication of Nothing
May 14, 1904
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