Ordinary disbursements Panama Canal disbursements Public debt bursements

700,254,489.71

731,399,759

dis

expendi

Wood, and manufactures of. 103,179,640

COMMERCE AND THE WAR. The immense commercial effects of the war may be suggested by a few comparisons. In 1913, during the calendar year, imports from Germany amounted to $184,211,352, as against $44,953,285 in 1915; from Austria-Hungary to $19,083,336, as against $5,324,750; from Russia in Europe to $22,322,957, as against $2,433,222; from France to $138,933,883, as against $77,918,758; from Belgium $41,358,376, as against $2,626,440; from the United Kingdom to $271,954,987, as against $258,295,853; from Italy $55,322,304, as against $51,559,765.

In the same period during the calendar year 1913-exports to Germany amounted to $351,930,541, as against $11,788,852 in 1915; to Austria-Hungary $22,244,599 as against $104,525; to Russia in Europe $25,965,351 as against $124,663,056; to France $153,922,526, as against $499,944,446; to Belgium $64,317,469, as against $23,161,288; to the United Kingdom $590,732,398, as against $1,191,569,781; to Italy $78,675,043, as against $270,668,448. The total exports to Europe in the calendar year 1913 amounted to $1,479,076,009, as against $1,971,432,182 in 1915.

GOLD. The situation in Europe rapidly changed the United States from a debtor to a creditor. On this head the Report of the secretary of the treasury for 1915 said: "Although the panicky condition of the foreign exchange market caused large exports of gold to belligerent countries in September, November, December, 1914, and January, 1915, the balance of trade began early in the present calendar year to favor the United States and increased until, in November, it amounted to more than a billion and a half dollars. Our stock of gold coin and bullion increased from $1,805,876,580 on Jan. 2, 1915, to $2,198,113,762 on Nov. 1, 1915, by far the largest amount of this precious metal ever held by any one country. The indications at the time of writing this report were that our gold supply would be greatly augmented in the immediate future by further shipments from Great Britain, South Africa, Canada, and Australia." See also GOLD.

RECEIPTS AND DISBURSEMENTS. The following table, compiled from figures given by the secretary of the treasury, shows the receipts and disbursements of the Federal government for the fiscal years 1914 and 1915:

Total, exclusive of postal

Postal tures

COINAGE. The coinage of the year amounted to $46,086,458.90, of which $40,533,317.50 was gold, $3,353,032.50 was silver, $1,718,776.95 was nickel, and $481,331.95 was bronze. This amount includes $30,000 in $50 pieces, $25,000 in $2.50 pieces, and $5500 in $1 gold pieces; also $30,000 in silver half-dollar pieces struck at the San Francisco mint for the Panama-Pacific International Exposition.

There were also coined at the Philadelphia mint 368,050 gold pieces, 10,765,400 silver pieces, and 11,024,300 nickel pieces for Cuba; 5000 gold pieces and 859,425 silver pieces for Costa Rica; 2,500,000 silver pieces for Ecuador, and 9,208,000 nickel pieces for Salvador. The mint at San Francisco coined for the Philippine Islands 1,870,000 silver pieces and 500 bronze pieces.

The seigniorage on United States coinage executed totaled $3,687,564.41, of which $1,862,088.97 was on subsidiary silver coins and $1,825,475.44 was on minor coins.

The amount of silver purchased during the fiscal year was 3,395,694.87 fine ounces, costing $1,736,599.16, at an average price of 51 cents per ounce, fine. There were also received 491,021.14 fine ounces of United States mutilated silver coins, valued at $678,792, and Philippine silver

coins for recoinage containing 136,247.17 fine ounces at a cost value of $89,032.55.

The circulation statement given in the accompanying table is from figures compiled by the Treasury Department. Statement of the coin and paper circulation of the United States, 191315, inclusive, with amount of circulation per capita follows:

5023 officers and 102,185 enlisted men. Of these 67,000 would be mobile army troops, 20,000 coast defense troops, and the remainder hospital corps, quartermaster corps, and other employees of similar character. The organized militia in the various States had, at the close of the year, approximately 129,000 men and officers. This plan proposed by Mr. Garrison pro

Coin, bullion,

Year ending June 30

1913

1914

1915

and paper

money in

Treasury, as assets

per capita

ARMY. During the year 1915 a considerable portion of the mobile army was engaged in active field service along the Mexican border. On Nov. 23, 1914. United States forces under the command of General Funston were withdrawn from Vera Cruz and stationed at Galveston and Texas City. On Nov. 15, 1915, 741 officers and 19,944 men were on duty along the Mexican border or adjacent thereto. Troops which had been kept in the mining district of Colorado during the strike conditions were withdrawn in 1915. There were no active military operations in the Philippines.

The general health of the army in 1915 was never better. Immunization by vaccination against typhoid fever continued to be successful. The desertion list was unusually low. The experiment of giving military training and educational instruction to prisoners convicted of purely military offenses continued to work well.

Four military camps of instruction for students were held through the summer, and were quite as successful as the camps of the two preceding years. There were also three camps established in 1915 for the benefit of business men who realized the importance of military preparation, and were desirous of acquiring some practical knowledge of a soldier's duties. See MILITARY PROGRESS.

The report of the secretary of war for 1915 was devoted almost entirely to consideration of the military policy which he recommended for adoption. He previously had declared that it would be necessary to devise a way to make available a large national force and to increase the regular army to 120,000 men. The "Continental army" he proposed would be formed by men voluntarily enlisting for six years. In the first three years they would serve two months each year with the colors, receiving the same pay as regulars. During the fourth, fifth, and sixth years they would be held subject to call to the colors. This "Continental army" would be raised to an ultimate strength of 400,000. At the same time the States would have the organized militia developed with federal assistance and increased appropriations to the highest point of efficiency.

Mr. Garrison pointed out that appropriations at the end of the fiscal year 1915 were available for the maintenance of an army aggregating

vided for an over-sea garrison in accordance with the approved plan of 1913, and for the presence in the United States of approximately 50,000 mobile army troops and 20,000 coast artillery troops. The total list of the officers and enlisted men in the regular army when the plan should have been carried out was to have been 141,843.

It was proposed that the terms of enlistment in the regular army should be a term of years with the colors, and a term of years on furlough. During the latter period there would be an obligation to return to the colors in event of war or in case it was threatened. Under this scheme there would always be in the country a large number of men trained in the regular army and who would be subject to the call of the nation. This programme necessitated the raising of additional regiments and organizations as follows: 10 regiments of infantry, 4 regiments of field artillery, 52 companies of coast artillery, 15 companies of engineers, and 4 aëro squadrons. Under the proposed plan about 50,000 enlisted men and officers would be retained in the outlying territories of the United States. The secretary of war estimated that the cost of carrying out this plan would be, in the first year, $136,635,716. It would be necessary also to provide $20,000,000 additional for sea coast defenses, and $26,081,565 for reserve material, making the grand total expended for the first year $182,717,281. This outlay would be, in the second year, $212,816,124; and, in the third and fourth years, $228,316,124. The annual charge thereafter would be $182,000,000.

The total expenditures for the military establishment amounted, in 1915, to $111,744,185. For further consideration of this subject see the articles MILITARY PROGRESS; and PREPARED

NESS.

NAVY. During the fiscal year 1915 the vessels of the American navy were actively employed. The vessels of the Asiatic fleet were engaged in their usual duties of looking out for American interests in the Far East, and occupying their stations in the Philippines. In July vessels were able to render effective relief to sufferers from the disastrous floods in the Canton districts of China. The fleet on the Pacific station found its most important duties in Mexican waters. The unsettled conditions in Mexico im