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ANNUAL REPORT

SECRETARY OF THE TREASURY

STATE OF THE FINANCES

THE:

YE^R

1882.

^ WASHINGTON:
OOVERNMBNT




PRINTING

1882.

0FFICI5.




OU

TABLE OF CONTENTS.
Page.
Ill

I . — R E P O R T OF THE SECRETARY OF THE T R E A S U R Y

Tables accompanyiDg the report
Appendix acconnpanylBg the report

1
51

I I . — R E P O R T S OF T R E A S U R Y OFFCERS :

Auditor, First
Auditor, Second
Auditor, Third
Auditor, Fourth
Auditor, F i f t h . . . . Auditor, Sixth
Commissioner of Customs
Commissioner of I n t e m a l Revenue
Comptroller, First
Comiitroller, Second.^
Comptroller o f t h e Currency
birector of the Mint
Liabilities to Indian tribes
Register
Treasurer of the United States . . . *




-.

267
297
311
.327
347
367
279
67
263
273
131
199
549
399
361




TRICASUKY DEPARTMENT,

Document No. 309.
Secretary.

,

REIIORT.
TREASURY D E P A R T M E N T ,

Washington^ D. G.j Decemher 4, 1882.
SIR : I have the lionor to submit the following, report:
The ordinary revenues from all sources for the fiscal year ended
June 30, 1882, were:
From customs
.
-/. $220,410,730 25
Erom internal reveuue
146, 497, 595 45
From sales of public lands
:.
-... 4, 753,140 37
From, tax on circulation and. deposits of national
banks
8, 956, 794 45
Froni repayment of interest by Pacific Eailway Companies. -^
.-:.-.
840, 554 37
From sinking-fund for Pacific Eailway Companies..
796, 271 42
.From customs fees, fines, penalties, &c
1, 343, 348 00
From fees—consular, letters-patent, and lands
2, 638, 990 97
From proceeds of sales of Grovernment property
314, 959 85
Paid in from profits on coinage, bullion deposits, and
assays
4,116,693 73
From Indian trust funds
5, 705, 243 22
From deposits by individuals for surveying public
l a n d s . . . . . . . -0
2, 052, 306 36
From revenues of the District of Columbia
1, 715,176 41
From miscellaneous sources
3, 383, 445 43
Total ordinary receipts

403,525,250 28

The ordinary expenditures for the same period were—
For civil expenses
.'.
$18, 042, 386
For foreign intercourse
1,307, 583
For Indians
9, 736, 747
For pensions
61, 345,193
For the military establishment, including river and
harbor improvements, and arsenals
43,570, 494
For the naval establishment, including vessels, machinery, and improvements at navy-yards
15, 032, 046
F O P ^miscellaneous exiDcnditures, including iiublic
buildings, light-houses, and collecting' the revenue.
34,539,237
For expenditures on account of the District of Columbia
3, 330, 543
For interest on the public debt
71, 077,206
Total ordinary expenditures




42
19
40
95
19
26
50
87
79

257, 981, 439 57

IV

REPORT OF THE SECRETARY OF THE TREASURY.

Leaving a surplus revenue of
$145, 543, 810 71
Which, with an amount drawn from the cash balance in the Treasury, of
20, 737, 694 84
Making
'
Was applied to the redemption—
Of bonds for the sinking-fund
Of fractional currency for the sinking-fund
Of loan of July and August, 1861
Of loan of March, 1863
Of funded loan of 1881
Of loan of 1858
. Of loan of February, 1861
Of five-twenties of 1862
Of five-twenties of 1864
Of five-twenties of 1865
Of ten-forties of 1864.
. Of consols of 1865
«
Of consols of 1867
Of consols of 1868
Of Oregon-war debt
Of old demand, compound-interest, and other notes.

166, 281, 505 55
60, 079,150 00
58, 705 55
62, 572, 050 00
4, 472, 900 00
37,194,450 00
1, 000 00
303, 000 00
2,100 00
7, 400 00
6, 500 O
O
254, 550 00
SCi, 450 00
408,250 00
141, 400 00
675,250 00
18,350 00
166,281,505 55^

The requirements of the sinking-fund for the past fiscal year, including a balance of $16,305,873.47 from the preceding year, have been
fully met. It is estimated that the requirement for the present fiscal
year will be $44,422,956.25, of which there has been api)lied during the
first four months ofthe year, the sum of $31,196,350.
There seems to have been confusion in some minds, of the sums
paid to meet the lawful needs of the sinking-fund, and those paid for
the reduction of public debt by direct payment and redemption thereof.
To my report of last year was appended a table (Table L) of all the
moneys paid for bonds for the sinking-fund; and a table (Table I)
showing the condition, of that fund from the beginning of it in May,.
1869, down to June 30, 1881. It was stated in my report that there
was a balance then due the fund of $16,305,873.47; It has been said
that this was erroneous. The report of my predecessor, Mr. Secretary
Morrill, made in 1876, was relied upon as so showing. He said that
the terms of the sinking-fund act required that the public debt should
be reduced by the close of the fiscal year in 1876 b}^ the sum of
$433,848,215.87; that the public debt had, however, been reduced at
that time by the sum of $656,992,226.14, or over two hundred and
twenty-three millions more than those terms required. He did not say,
nor did he mean to say, that the reduction he announced was achieved
through the operations of the sinking-fund. What he said, and meant




REPORT OF T H E SECRETARY OP T H E TREASURY.

V

to say, was that, though the sinking-fund had not been filled to the
amount contemplated by the act of Congress which provided for it,
and so the letter of the law had not been observed, yet that, by other
modes, the public debt had been reduced by more than the sum which
the sinking-fund act contemplated, and so the spirit and intent of the
law had been met and the faith of the Government with its creditors
kept. And so, after his time, though the sinking-fund has been a
creditor, the public debt has been decreased by more than a strict
adherence to the sinking-fund act would have brought about. My predecessor, Mr. Secretary Sherman, reported in 1877 a deficiency in the
sinking-fund, but a reduction of public debt near two hundred and
twenty-one millions more than the sinking-fund act, literally carried
out, would have effected.
Compared with the previous fiscal year, the receipts for 1882 have,
in the following items increased $44,578,081.99: In customs revenue,
$22,251,054.23; in internal revenue, $11,233,209.94; in sales of public
lands, $2,551,277.20; in direct tax, $158,624.80; in tax on circulation
and deposits of national banks, $840,678.73; in proceeds of sales of
Government property, $52,785.85; in repayment of interest by Pacific
Eailway Companies, $29,720.57; in consular fees, $8,922.98; in customhouse fees, $7,538.35; in custQms emolument fees, $155,083.98; in
marine-hospital tax, $22,155.89; in Indian trust funds, interest and
premium, $5,753,308.29; in deposits by individuals for surveying public
lands, $248,160.81; in registers^ and receivers' fees, $243,295.29; in fees
on letters-patent, $141,788.72; in profits on coinage, $648,208.12; and
in sales of ordnance material and small stores, $232,268.24. There was
a decrease of $1,835,124.28, as follows: In revenues of the District of
Columbia, $301,022.82; in sinking-fund for Pacific Eailway Companies,
$8,909.12; in customs fines, penalties, and forfeitures, $44,789.19; in
steamboat fees, $27,664.91; in sales of Indian lands, and interest
on deferred payments, $1,078,316.30; and in miscellaneous items,
$374,421.94; making a net increase in the receipts from all sources
of $42,742,957.7L
The expenditures show a decrease over the previous year of
$20,343,982.30, as follows: In the m v y Department, $654,625.40; in
interest on the public debt, $11,431,534.39 ; and in civil and miscellaneous, $8,257,822.51. There was an increase of $17,612,534.28, as follows : In the War Department, $3,104,033.64; for Indians, $3,222,586.31;
and in pensions, $11,285,914,33—making a net decrease in the expenditures of $2,731,448,02.




VI

REPORT OF T H E SECRETARY OF THE

TREASURY.

FISCAL YEAR 1 8 8 3 .

For the present fiscal year the revenue, actual and estimated, is as
follows:

Source.

For the quarter For the remainended Septem- ing three quarber 30, 1882.
ters ofthe year.
Actual.

From customs
From internal revenue
From sales of public lands.
From tax on circulation and deposits of national
banks
From repayment of interest and sinking-fund,
Pacific Railway Companies
From customs fees, fines, penalties, &c
From fees—consular, letters-patent, and l a n d s . . .
From proceeds of sales of Government property.
From profits on coinage, &c
From deposits for surveying public lands
,.
From revenues of the District of Columbia
From miscellaneous sources
,
Total receipts--

Estimated.

$64,908, 875 71
37,760,804 58
1,185,622 97

$170,091,124 29
107,239,195 42
4,314,377 03

4, 492,426 39

4,507,573 61

114,619 55
422,140 09
822,842 49
113,995 95
1,040,119 39
894,128 04
194,314 88
840,717 28

1,635,380 45
977,859 91
1,827,157 51
886,004 05
3,159,880 61
1,505,871 96
1,535,685 12
- 4, .529, 282 72

112,790,607 32

302,209, 392 68

The expenditures for the same period, actual and estimated, are-

Object.

For the quarter For the remainended Septem- ing three quariDcr 30,1882.
tersof t h e y e a r .
Actual.

Estimated.

For civil aud miscellaneous expenses, including
public baildings; light-houses, and collecting
$16,224,7.36 16
the revenue
2,633,778 88
For Indians
2.3,397,244 51
For j)ensions
For military establishment, including fortifications, river and harbor improvements, and
14,181,028 69
arsenals
For naval establishment, including vessels and
3,571,431 83
machinery, aixd improvements at naA^y-yards...
For expenditares on account of the District of
1, 415, 882 20
Columbia
17, 219,246 19
For interest on the public debt
Total ordinary expenditures.

Total receipts, actual and estimated
Total expenditures, actual and estimated
Estimated amount due the sinking-fund
Leaving a balance of




78, 643, 348 46

$45,275,263 84
4,866,221 12
76, 602, 755 49
33,318,971 31
11,928,568 17
2, 084,117 80
42,280,753 81 •
216,:356,651 54

$415, 000, 000 00
295, 000, 000 00
120, 000, 000 00
44, 422, 956 25
75, 577, 043 75

REPORT OF T H E SECRETARY

OF THE ^IREASURY.

VII

FISCAL YEAR 1884.

The revenues of the fiscal year ending June 30,1884, estimated upon
the basis of existing laws, will be—
From customs
$235, 000, 000
From internal revenue
145, 000, 000
From sales of public lands.._
5,500,000
From tax on circulation and deposits of national
banks
9,000,000
F]^om repayment of interest and sinking-fund. Pacific
Eailway Companies
1, 750,000
From customs fees, fines, penalties, &c.
1,400, 000
From fees—consular, letters-patent, and lands
2, 650, 000
From proceeds of sales of Government property
1,000,000
From profits on coinag;e, &c
4,200,000
From deposits for surveying public lands
2,400,000
From revenues of the District of Columbia
1, 730,000
From miscellaneous sources
5,370, 000
Total estimated ordinary receipts

415, 000, 000

The estimates of expenditures for the same period, received from the
several Executive Departments, are as follows:
Legislative
$3,274,049 30
Executive
'
18, 668, 595 78
Judicial
:...,
408, 300 00
Foreign intercourse
1, 390, 905 00
Military establishment
28, 901,445 94
Iiaval establishment
23,481, 078 54
Indian affairs
».
6, 725, 731 54
Pensions
101,575,000 00
Public works:
Legislative
$6,500 00
Treasury Department
5, 317, 500 00
War Department
> 4, 753, 602 64
ISTavy Department
3, 855, 513 00
Interior Department.
417,100 00
' Department of Agriculture
10, 500 00
Department of Justice
1, 000 00
14, 361, 715 64
Miscellaneous
20,925,003 14
District of Columbia
3, 550, 299 08
Permanent annual appropriations:
Interest' on the public debt
. . . $55,877,410 72
Sinking-fund
.
~
45, 072, 222 54
Eefunding—customs, internal revenue, lands, &c
7, 417,100 00
Collecting revenue from customs.. 5,500,000 00
Miscellaneous
3,151,305 00
117,018, 038 26
Total estimated expenditures, including sinking-fund.
Or, an, estimated surplus of




340,280,162 22
74, 719,837 78

VIII

R E P O R T OF T H E SECRETARY OF T H E

TREASURY.

Excluding the sinking-fund, the estimated expenditures will be
$295,207,939.68, showing an expected surplus of $119,792,060.32.
REDEMPTION OF U. S. BONDS.

At the date of the last annual report to Congress, the interest-bearing debt which was redeemable at the pleasure of the Government
was as follows:
Acts of July and August, 1861, continued at three
and a half per cent
*$113,926,350
Act of March 3, 1863, continued at three and a half per
cent
47,949, 700
Five per cent, funded loan, continued at three and a half
per cent
401,504,900
Total.

:

563, 380,950

Of the above bonds there have been redeemed during the year
ended October 31,1882, the following:
Loan of July and August, 1861, continued at three
and half per cent
$110, 622, 800
Loan of March 3,1863, continued at three ahd a half
percent
:
30,878,350
Five per cent, fun.ded loan
9,700
Total.

:. ,

.,

141, 510, 850

EXCHANGE OF T H R E E AND A HALF P E R CENT. CONTINUED BONDS
INTO T H R E E P E R CENT. BONDS.

On July 1, 1882, the interest-bearing debt which was redeemable at
the pleasure of the Government, exclusive of $11,137,050 three and
a half per cent, continued bonds of the loan of July and August,
1861, which had been called, and which became due on that day, was
as follows:
'
A c t of March 3, 1863, continued at three and a half per
cent
$47, 820,100
iFive per cent, funded loan of 1881, at three and a half
per cent.
,..
401,503,900
Total

449,324, 000

Included in the above were $15,000,000 in bonds of the act of March
3, 1863, which had been called to mature August 1, 1882, and the
* Including $12,035,500 which had been called, but which had not then matured.




REPORT OF THE SECRETARY OF THE TREASURV.

IX

amount of bonds available for exchange, as contemplated in legislation
then pending, was still further reduced by the call issued July 10,
1882, for $16,000,000, to mature September 13, 1882.
By the eleventh section ofthe act approved July 12,1882, entitled ^ An
^
a»ct to enable national banking associations to extend their corporate
existence, and for other purposes,'' the Secretary was authorized to receive at the Treasury, bonds of the United States bearing three and
S half per cent, interest, and to issue in exchange therefor regisL
tered bonds of the United States bearing interest at the rate of three
per cent, per annum.
These bonds were to be redeemable at the pleasure of the United
States, after all bonds bearing a higher rate of interest, and which
were thus redeemable, had been redeemed or called. There is also
the important provision that the last of the bonds issued under the
act, and the substitutes for them, should be the first called for payment,
and that this order of payment should be followed until all should have
been paid. Thereby the bonds first issued, and the substitutes for them,
made on the assignment and transfer of them, were made more desirable, as likely to have a longer time to run. This gave rise to the query,
how the order of issue of the '' threes" to the holders of the '' three and
a halfs'' should be determined. A method was devised by the Department which gave the precedence to diligence in offer of surrender of the
three and a halfs; and which determined hy lot, giving the same chance
of priority to all having part in it, who of the equally diligent should
have the first privilege in issue. I t is believed that justice was done
to all. The provision that the substituted bonds should have the same
rank with the originals, in the order of call for payment, was at first
thought to preclude the holder from a division of one bonci of larger
denomination into two or more bonds of smaller denomination. To
have maintained this, would have inconvenienced the transfer and
division of securities among several alike interested in ^ large bond.
But as it was impracticable to divide one bond into two or more and
give to the latter the number of the former, and so preserve the right
to be deferred in calls for payment, it has been determined to yield to
a wish for a division, upon the holder waiving that right in exjpress
term§ in the instrument of assignment. This puts ux)on the Eegister's
Office more labor and the greater exercise of care, but, being a convenience to the holder of the bond, they will be cheerfully undertaken.
On the day following the approval of the act, the Secretary issued a
circular announcing the readiness of the Departmen t to effect the
exchange thus provided for; August 1, 1882, being named as the.date




REPORT OF T H E SECRETARY OF TIIE

TREASURy.

upon which said exchange would begin. Under the provisions of tho
act the,exchanges of the three and a half per cent, continued bonds
began on the date named and continued until September 20, upon
which date they were temporarily suspended, in order to allow the
preparation of the schedules and checks for the dividend due ISTovember 1 on the three and. a half per cent, bonds which had not been
exchanged, as well as upon the new three per cent, bonds which had
been issued.
From the beginning of the exchanges until the suspension three and'
a half per cent, continued bonds were received for exchange into
three per cent, bonds as follows:
Act of March 3, 1863, continued at three and a half per
cent
$13, 231, 650
Five per cent, funded loan of 1881, continued at three and
a half per cent
246,138, 850
Total
259, 370, 500
and three per cent, bonds were duly issued therefor.
The interest on the surrendered bonds was adjusted to August 1^
1882, and the three per cent, bonds issued in exchange therefor
carried interest from that date.
The exchanges were resumed ISTovember 1, since which time there
have been received $21,024,250 in three and a half per cent, continued
bondSjJbr which a like amount of three per cent, bonds have been
issued ; making a total issue to December 1, 1882, of $280,394,750. .
The reduction in the annual interest charge by xeason of these exchanges is $1,401,973.75.
The Department knows no reason why it should not continue t a
afford every facility for these exchanges so long as three and a half
per cent, bonds remain outstanding and uncalled.
The following table shows the changes in the interest-bearing debt
during the year:
Loan.

July and August, 1861,
continued at 3-^ per ct.
March 3, 1863, continued
at 3^ per cent
Five per cent, funded
loan continued at 3^
per cent




Amount outExchanged
standing Nov. Redeemed dur- into 3 per cent. Outstanding.
ing the year.
Nov. 1,1882.
1, 1881.
bonds.

$113,926, 350

$110,622,800

47,949,700

30,878,350

$13,231,650

3,839,700

401,504,900

9,700

246,138, 850

155,356, 350

563,380,950

141,510,850

259,370,500

162,499,600

$3,303,550

REPORT OF THE SECRETARY OF THE TREASURY.

XX

Of the bonds above set down as outstanding, those embraced in the
loans of July and August, 1861, and March 3, 1863, amounting to
$7,143,250, are called, and have ceased to bear interest; making a total
of bonds redeemed during the year or which have ceased to bear interest of $148,654,100.
Calls are now out for continued bonds of the five per cent, funded
loan amounting to $55,000,000, and the bonds will cease to bear iuterest during the months of December, 1882, and January and February^
1883.
The reduction in the annual interest charge by reason of these
changes to ISTovember 1, 1882, is as follows:
On bonds redeemed or interest ceased
On bonds exchanged into three per cent, bonds
Total
•Deduct for interest oh four percent, bonds issued, &c..
iTet reduction

$5,202, 893 50
1,296, 852 50
6,499,746 00
222 00
6, 499, 524 00

STANDARD SILVER DOLLARS AND SILVER CERTIFICATES.

There had been coined, on November 1,1882, under the act of February
2S, 1878, of standard silver dollars
$128, 329, 880
There were in the Treasury at that date
.
92, 946, (J94
And in circulation
There were in circulation, November 1,1881, about
Increase

35, 383, 786
34, 000, 000
1, 383, 786

The increase in the circulation of standard silver dollars between
November 1, 1881, and November 1, 1882, was less than a million and
a hpJf of dollars. The amount coined during the same tirae was
$27,772,075. The supply in the aggregate, and furnished yearly, ismuch more than the demand.
Ofthe above amount held by the Treasury November 1, 1882, there
were in the sub-treasury at New York about $19,000,000, and in the
vaults of the assistant treasurer at San Francisco nearly $14,000,000,
and in the mint at that place nearly $27,000,000, making nearly
$41,000,000 in San Francisco. This large accumulation at San Francisco is useless; the call for silver dollars for use as money there islittle. The reason for the accumulation there is this: The mints this
side the mountains could not do the needed coinage of gold, and coin
also the minimum amount of silver dollars required by the law. After




XII

REPORT OF THE SECRETARY OF THE TREASURY.

the silver dollars had been coined there, there was not good policy
In bringing them away, for there was no unsatisfied call for them on
this coast, and the expense of carriage is great, never less than one
per cent. Besides that, the vaults on this side are inconveniently taxed
in the storage of what is here. Indeed, the storage capacity of the
mints and other vault-room of the Government is everywhere severely
taxed. There were on hand in the sub-treasury on November 1, 1882,
$26,884,337.62 of fractional silver coin. In all, there were 2,400 tons
of silver coin stored in the public vaults. If the coinage of standard
silver dollars is kept up, and the demand for them for circulation is as
•dormant as now, it will be a serious question where the Treasury Department will find, in public receptacles, storage-room therefor.
Another reason for the coinage at San Francisco is, that allthe bullion for the monthly coinage required by law could not be bought on
this side of the mountains at the market rate as required by the law,
and that portion bought on the Pacific side Avas coined there because
it would cost so much, to bring it to this side for coinage, even if there
had been mint facilities therefor.
The amount of silver certificates outstanding November 1, 1881, was
about $66,000,000, and the amount outstanding November 1,1882, about
;$65,500,000. The Treasury holds nearly all the standard silver dollars
<ioined during the year ended November 1,1882. The aimount of silver
certificates outstanding has lessened during the same time. Judging
from past experience, we need not expect an increased demand for silver
dollars.
^
Inasmuch as by recent legislation the Secretary is required to issue
gold certificates, it is to be looked for that the place of the silver certificates AA^il be to a great extent supplied by gold certificates, as the
latter are furnished in convenient denominations; and it is just to supi)ose t h a t a certificate payable in a coin worth but eighty-eight per cent, of
its nominal value will be displaced by one worth fully its nominal value.
Is the idea vain that the continued coinage of silver dollars is not
now required for circulation of them, or as a basis for the issue of such
certificates, and that the policy of the Government, so far as it was
meant to increase the price of silver, has not been successful
As was stated in the report of last year, the act requiring the issue
of silver certificates^ making them receivable for customs and all public
dues, was a part of the policy of Congress to maintain the standard of
the silver dollar at or near that of the gold dollar.
The objections then urged to the issue of silver certificates, viz., that
they form an inexpedient addition to the paper currency; that they




REPORT OF THE SECRETARY OF THE TREASURY.

xm

are made a legahtender for the purposes named for more than their
real value; that there is no promise on the part ofthe Government topay the difference between their actual and nominal value; and t h e
embarrassments which arise from the endeavor to maintain several
standards of value, still have their force. .
There is just now a seemingly greater demand for silver dollars. I t
is only in seeming. The process is this: Gold is deposited in New Yorkc
For that, by arrangement, silver dollars are taken from the mint at
New Orleans. They are not put into circulation. They are deposited
at once in the sub-treasury there, and silver certificates taken to meet
immediate pressing needs for currency. As gold certificates are now
going into business hands in New Orleans, the process above stated'
will probably cease, as it is not looked for that silver certificates will
be sought rather than the gold certificates. That process keeps thesilver dollars out ofthe Treasury but a short time, and does not p u t
them into general circulation.
I refer for a more full discussion of this subject to my report of last
year, and repeat my recommendation that the provision for the coinage of a fixed amount of standard silver dollars each month be repealed and the Department be authorized to coin only so much as will
be necessary to supply the demand.
The recommendation is renewed for the repeal of the act requiring
the issue of silver certificates, and for a law authorizing measures for
their early retirement from circulation.
The international monetary conference met in April last, on the day
to which it had adjourned, and adjourned again sine die. I t is not
understood that it effected any important practical result.
GOLD CERTIFICATES.

Under the act of the last sessioii of Congress gold certificates have
been prepared and have been issued, as is shown in this table:
G o l d certificates
ready for issue.

Denominations.

$20^s
50's
lOO's
500's
lOOO's
5000's...--.
lOOOO's
Total




:

. . .

$3,920,000
5, 000, 000
7, 600, 000
10,000, 000
12,000, 000
20,000, 000
80,000, 000
• 138,520,000

G-old certificatea
issued November 27, 1882.

•

$2, 240, OOO
2,200,000
3, 000, 000'
5, 050, O O
O
4,300,000
4,500,000
10, 000, 000
31,290,000

"YAV

REPORT OF THE SECRETARY OF THE TREASURY.
CONVERSION OF REFUNDING CERTIFICATES.

At the date of the last repprt refunding certificates issued under
the act of February 26, 1879, remained outstanding to the amount of
$589,050.
There have been presented during the year for conversion into four
per cent, bonds, certificates amounting to $17v4,300, leaving still unconverted $423,750.
In the language of the act, these certificates are ^ convertible at
^
any time, with accrued interest, into the four per cent, bonds described in the refunding act." Prior to May 1,1882, it had been the
practice of the Department to convert the principal only of the certificates into four per cent, bonds, paying the interest accrued on the
certificates in lawful money.
A holder of refunding certificates having made a demand upon the
Department to have the interest accrued on his certificates, as well as
the principal thereof, converted into four per cent, bonds, the question
was referred to the Department of Justice for examination. In the
opinion of the Attorney-General which was furnished this Department, the claim thus made was held to be justified by the language
of the act, and on conversions effected since May 1, four per cent,
bonds have been issued in satisfaction of the interest accrued on the
certificates, in lieu of the payment of lawful money, in all cases where
such interest amounted to a sum sufficient to entitle the holder to a
bond.
Up to November 1, 1882, $5,500 in four per cent, bonds have been
issued in this manner, making an increase to that extent of the amount
of such bonds outstanding, but not increasing the total debt.
CONTINUED TRUST-FUND BONDS.

I t was stated in the last report that $451,350 in bonds of the five
per cent, funded loan, held by the Secretary of the Treasury as a part
of the sinking-fund for the Pacific Eailroads, had been continued at
three and a half per cent., and that $52,000 in bonds of the same
loan, held in trust for the South Carolina school-fund, had also been
continued in preference to allowing the bonds to be redeemed and investing the proceeds in other bonds.
For the same reason the three and a half per cent, bonds have now
been exchanged into three per cent, bonds of the act of July 12, 1882.
COINS AND COINAaE.

The report of the Director of the Mint gives, in detail, the transactions of the mint, and assay offices during the year, together with sta-




REPORT OF THE SECRETARY OF THE TREASURY.

XV

tistics and inquiries into the financial condition of our own and foreign
countries.
The imports of foreign gold coin and bullion were during the preTious year ninety-seven and one-half millions. During the last fiscal
year the excess of imports over exports was about one and three-quarter
inillions.
There Avere during the fiscal year ended June 30, 1882, exports of—
Gold bulhon
Gold coin, American.
Gold coin, loreign

$1, 600, 436
29,805,289
1,182,155

^.

Total

32, 587,880

.Silver bullion
Silver coin, American
-Silver coin, foreign

$11, 732,340
423,098
4, 674,160

'.

Total

16, 829, 599

Total gold and silver.

$49,417,479

There w^ere imports of—
•Gold bullion .
Gold coin, American
-Gold coin, foreign
Total

$9, 406,053
4, 796, 630^
20,174, 371

'
:

34, 377, 054

-Silver bullion
Silver coin, American
.Silver coin, foreign

$2,121, 733
940, 877
5,032, 726

Total

:

8,095,336

Total imports of gold and s i l v e r . . . . .

$42, 472,390

There were deposited at the mints and assay offices $66,756,653 of
gold, which was $74,000,000 less than the preceding year, because of the
decrease in the imports.x
The coinage at the mints during the fiscal year was—
Gold
•Standard silver dollars
Fractional silver coins
Minor coins
Total




*
,
:

..

$89, 413, 447
27, 772, 075
11, 313
644, 757

50
00
75
75

117, 841,594 00

XVI

R E P O R T OF T H E SECRETARY OF T H E

TREASURY.

The coinage of gold was nearly $11,000,000 more than that of any
previous year in the history of the mints. About one-half of this was
in eagles, one-third in half-eagles, and the rest in double-eagles.
The purchase of silver for coinage during the year was 23,627,229.37
ounces of standard silver, at a cost of $24,136,942.20, an average of
$1.02.15 per ounce standard. The average London price for silver was
51|f pence per ounce of British standard fineness, equivalent to $1.02.26
per ounce United States standard, and the average New York price
was $1.02,419 per ounce standard.
During the year, about $29,000 of punched and mutilated silver coins
A^ere purchased and melted for recoinage.
The silver coinage consisted of $27,772,075 in standard dollars, and.
$11,313.75 in fractional coin, a total of $27,783,388.75.
The profits on the silver coinage amount to $3,440,887.15, of which
$3,438,829.41 were from the coinage of the dollar, and $2,057.74 from
fractional coin.
When the financial report of this Department was made last year^
public queries were started Avhether the profits on coinage were truly
given. To satisfy myself and please a proper public scrutiny, I called
a fitting official person from the assistant treasurer's office at New
York, and charged him with a thorough investigation of the matter.
What he did appears in his i?eport appended hereto (Appendix, page
53). I think it is complete and satisfactory, and puts at rest any
doubt that the accounts have been accurately kept and truly reported o
.
During the year the mints distributed 15,747,463 standard silver
dollars, leaving in their vaults 35,365,072, from the coinage of this and
, former years.
Of the minor or base-metal coins, 46,865,725 pieces were struck, in
value $644,757,75. Of this, 4,400,775 pieces, in value $220,038.75, werefive-cent nickel coins, for. which the demand was large during the year.
The rest of it was principally of one-cent pieces.
' Besides the coinage, $37,505,120 worth of gold and $8,129,202 worth
of silver was made into bars.
Up to October 1, under the act of May 26, 1882, $6,588,000.06 in fine
gold bars fit for export were changed for gold coin at the New York
assay office, thus saving the expense of coinage.
The coin circulation of the country on July 1,1881, is estimated, from
the statistics of coinage and net imports of coin, to have been—
United States gold coin
. $439, 776, 75^
United States silver coin . .
171,459, 766Total




,

611,236, 519

REPORT OF THE SECRETARY OF THE TREASURY.

XVII

The increase on the 30th of June last, by coinage and imports of
coin, was—
United States gold coin
United States silver coin

:

$500,882,185
199, 573, 360

Total

700, 455, 545

There was further increase by coinage and imports during the next
quarter of $11,308,851 in gold, and $7,036,410 in silver.
The mints and assay offices on the 1st of October also held for
coinage $51,440,420 in gold bullion, and $3,343,565 in silver bullion,
making the stock of United States coin and bullion available for coinage on October 1—
.
United'States
United States
United'States
United States

gold coin
gold bullion
sih-er coin
silver bullion

Total

„..
....
.
:

$512,191, 036
51,440, 420
206, 609, 770
3, 343, r}6r)
773, 584, 791

THE NATIONAL BANKS.

The affairs of the national banks during the current year are treated
of more fully in the report of the Comptroller of the Currency than
space Avill permit herein. It gives an abstract of their resources and
liabilities for each year since the national-bank system went inta
operation, together with statistical information for a series of years ^
drawn from official sources, of the affairs of private bankers, savingsbanks, and banking associations organized under State laws.
The number of national banks organized during the year is 171^
Avhich is the greatest number organized during any year since 1872.
The number of banks in operation is 2,269; more than at any previotFS
date. They are located in every State and organized Territory of the
Union. The returns made by them show* that on October 3d of the
present year they had as aggregate capital $483,104,213; as surplus,
$131,977,450; as individual deposits, $1,122,472,682; had made loans
in amount, $1,238,286,524; and held in specie, $102,857,778.
The number of banks whose corporate existence either has expired,
or would have expired if no action had been taken by their stockholders, is eighty-six. The stockholders of fifty-four of them, which
have been placed in voluntary liquida^tion or whose charters haA^e expired by limitation, have organized new banks in the same localit'os.
XI




XVIII

REPORT OF THE SECRETARY OF THE TREASURY

The stockholders of thirty banks have extended their existence under
the act passed at the last session of Congress. That act Avas well
adapted to the purpose intended.
The corporate existence of 305 other banks will expire before February 25, 1883. Nearly all of these have given notice of an intention
to seek an extended period of existence, under that act.
The report also tells the total amount of coin and currency in the
country, and the distribution of them in the Treasury, in the banks,
aind among the people. Since the day of resumption—the 1st day of
January, 1879—there has been anincrease, in gold coin of $288,795,330;
in silver coin of 105,750,532; and in national-bank notes of $38,936,073;
in aU, of $443,481,935.
The aggregate circulation of thenatlonal banks had steadily increased
for a series of years. The action of existing banks, in making deposit for the ultimate redemption of their circulating notes, lessened
for the year the amount of those notes for Avhich those banks are liable
by the sum of $5,478,854.
The national banks hold $220,000,000 of United States bonds which
are payable at the pleasure of the Government. .This is more than
one-half of the whole amount outstanding of this class of bonds. If
the public debt is to be paid as rapidly as it has been of late, it is
likely that all of these bonds will be paid during the next three
years. Whenever they are called for payment, the banks holding
them, to keep up the circulation of their notes, must either deposit
lawful inoney in the Treasury amounting ih the aggregate to at least
$200,000,000, or iDurchase and deposit there other United States bonds.
The cheapest of those bonds are at a high premium in the market.
It is estimated that the profit from the deposit of those bonds and
the taking and issuing the circulating notes furnished thereon, when
the lawful rate of interest is as high as six per cent., is not more
than three-fifths of one per cent. I t is supposed that this is not enough
to lead the banks to buy them largely, for the purpose of securing circulation.
" Is there not reason for forethought whether, with this embarrassment,
the bank circulation Avill not be so largely retired as to trouble the business community'?
Ways are suggested of forestalling a troublesome contraction of the
circulation—one, a reduction or abolition of the tax on circulation;
another, an increase of the rate of issue to ninety per cent, of the
current market value of the bonds; another, that the four and four




REPORT OF THE SECRETARY OF THE TREASURY.

XIX

O

and a half per cent, bonds be refunded into three per cents upon terms
satisfactory to the holders, thus bringing into market a class of bonds
purchasable at a loAver rate; and another, that the Treasury Department be empowered to take, as a basis of circulation, the three-sixtyffve bonds of the District of Columbia.
The Comptroller giA^es statistics of the taxation of the national
banks, and again, recommends a repeal of the t^x upon capital and
deposits, in which recommendation the Secretary concurs. The capital invested in national banks is $462,341,601. The taxes assessed
upon them by the United States and the States for the year 1881 were
$17,189,080, being at the rate of 3.7 per cent. The amount assessed
by the United States is near one-half of the whole. A repeal of the
laws providing for it would still leave those banks liable to an assessment by the States of over eight millions of dollars per annum.
The Comptroller of the Currency has completed his annual tables,
showing the amounts of United States bonds held by the national banks,
State banks, savings-banks, and private bankers on the 1st of November, 1882. The national banks held on November 1, 1882, as security
for circulation and for public deposits and other purposes, $396,528,400
of interest-bearing bounds of the United States. This is nearly thirty
millions less than the amount held on November 1,1881, and about seven
millions less than for the corresponding date in 1880.
Banking associations other than national hold these bonds as folloAvs: State banks in twenty-one States, $8,739,172; trust companies in
five States, $16,934,812; savings-banks in fifteen States, $237,786,442—
total, $263,460,426.
There has been during the past year a decrease of about two millions
in the amount held by State banks and trust companies, and an increase
of nearly twenty-seven millions in the amounts held by savings banks.
The amounts held in geographical divisions by these associations
in 1882 were as follows: Eastern States, $42,667,248; Middle States,
$197,135,239; Southern States, $268,350; Western States, $3,369,414;
Pacific States, $20,020,175—total, $263,460,426.
These returns have been compiled from reports made to the officers
of the different States, which have been forwarded by them to the
Comptroller.
The interest-bearing funded debt of the United States was on November 1, $1,418,080,200. The total amount of bonds held by the
national banks. State banks, and savings-banks at the nearest corresponding date that could be ascertained was $659,988,826, which amount
is not greatly less than one-half of the whole interest-bearing debt.




XX

REPORT OF THE SECRETARY OF THE TREASURY.

Similar facts haA^'e also been compiled from the returns made by State
banks, savings-banks, and priA^ate bankers to the Treasury Department
for the purpose of taxation, showing that the banks and bankers of the
'country, exclusiA^e of the national banks, held an average ainount of
United States bonds during the six months ending May 31,1882, as follows: SaAdngs-banks, $242,028,782; State banks and trust comi)anies,
$23,211,430; private bankers, $14,870,745—total, $280,110,957.
The amount of bonds given in the returns to the Commissioner of
Internal Eevenue, which is the amount invested in United States bonds^
and may include the premium as well as principal of the bonds, is
$16,650,000 more than the amount obtained from the returns to State
officers. The difference is comparatively small, and the amounts obtained from the one source serve to corroborate the general accuracy
of the returns obtained from the other.
At the last session of Congress legislation Avas had to stop the OA^ercertification by national banks of c^hecks, in form draAvn upon them,
(See chapter 290 of 1882, section 13.) That act is an amendment of
section 5208 of the United States Eevised Statutes, which made it
penal to certify such a check unless the drawer then had on deposit with
the drawee money to the amount of it. Section 13, above cited, makes
it penal to resort to any device, or to receive any fictitious o|)ligation,
whereby to CA^ade the provisions of section 5208, above cited. Since the
passage of section 13, instead of the formal certification of checks, some
national banks have made a formal acceptance thereof. They claim that
this does not break the law, and plant upon section 5136 of United States
Eevised Statutes, wherein that section allows the making of contracts
and the use of powers incidental and necessary to the business of banking; and upon section 5209, United States EcAdsed Statutes, Avhich
makes it penal for a bank officer to accept without authority, whence,
it is claimed, the implication is, that with authority from t h e b a n k
directors it is lawful; and upon the absence from section 13 of an
express prohibition of making an acceptance. The question remains,
however, is the making of the acceptance a resort to a device, or the
receiving of a'fictitious obligation, in order to evade the provisions of
section 5208 * For it is understood at this Department that these
?
acceptances are not always made upon an amount of money actuall}^ on
deposit with the acceptor equal to that of the check. Judging that
Congress was earnestly trying to stop a practice which it deemed
fraught with evil, I believed it well to concur with the Comptroller of
the Currency in submitting the matter to th6 Department of Justice,
for the official opinion ofthe Attorney-General, whether a national bank




REPORT OF THE SECRETARY OF THE TREASURY.

XXI

might lawfully make such acceptances; and, as the amount of them is
supposed to be large, whether, if the bank might lawfully make them,
it should be held, in so doing, within the bounds of section 5200, Eevised
Statutes United States, to the one-tenth of its paid-up capital; and, if
it might be so held, whether that limit applied to the gross amount of
the acceptances or to a single acceptance'? (See section 5202, United
States EcAised Statutes.) The Department of Justice has made reply to
the communication of this Department. The opinion of the AttorneyGeneral is that to write the word "accepted'' across a check is to the
same effect as to write the word "good" there; and that, though one
m a y b e called a "certification" and the other an "acceptance," they
mean the same thing, and are like acts; that when the draAver has not
with the drawee the funds with which the check may be at once paid,
the writing of one word, just as much as the writing of the other, is
for the same forbidden purpose—to produce the same forbidden result;
that, inasmuch as the liability is the same whether the check be marked
Avith the one word or the other, either mark, if incurring that liability^
would seem to be sufficient to bring the case within the prohibition
[referred to. It remains to be seen whether the banks which have
indulged in this practice will cease therefrom on knowledge of this
opinion, or whether the Comptroller of the Currency, or the law officers
of the Government, must enforce the pains and penalties incurred by
violation of the law.
^
PUBLIC MONEYS.

The monetary transactions of the Government have been conducted
through the offices of the United States Treasurer, nine assistant
treasurers, and one hundred and thirty-five national-bank depositaries.
The gross receipts of the Government, amounting during the fiscal
year, as shown by warrants, to $524,470,974.28, were deposited as follows :
In independent-treasury offices
,
$382, 680,906 77
In national-bank depositaries
: . . 141, 790,067 51
The quarterly examinations of independent-treasury offices, required
by law, have been made, and those offices have, besides, been subjected to special examinations by officers of this Department. As far
a;S known, there has been no loss to the Government from public officers
engaged either in the receipt, the safe-keeping, or the disbursement of
the public moneys. I have seen some instances of misdealing with
them, but as yet without ultimate public loss.




XXII

REPORT OF THE SECRETARY OF THE TREASURY.
CUSTOMS.

The revenue from customs for the last fiscal year was $220,410,730.25^
an increase of $22,251,054.23 OA^er that of the preceding year; an
increase in the value of dutiable imports of $73,887,486, and in that of
free goods of $8,087,460. There was collected at the port of New
Tork the sum of $152,773,962.32; at aU other ports, $68,300,698.03.
The sum of $49,198,312 Avas collected on sugar, melado, and molasses^.
$29,253,016 on wool and its manufactures; $24,175,547 on iron and
steel, and manufactures thereof; $22,633,137 on manufactures of silk^
$12,227,103 on those of cotton; and $6,771,483 on wines and spirits^
in all, from those articles, $144,258,598.
The table here given shows the rate per centum of the cost of collection. It is .0294, and is less than that of any year since 1876:
Aggregate duties on imports and tonnage, and receipts and expenses of collection for the fiscaf
years 1877, 1878, 1879, 1880, 1881, and 1882.
Year.
1877
1878 -.
1879
1880
1881
1882

Duties.
•

$130,956, 493
130,170,680
137,250, 047
186,522,064
198,159,676
220,410,730

Receipts.
07
20
70
60
02
25

$132,634, 029
132,024, 409
138,976,631
188,508,690
200,079,150
222,559,104

Expenses.
53
16
79
34
98
83

$6,501,037
5,826,974
5,485,779
5,995,878
6, 419,345
6, 549, 595

57
32 ,
03
06
20
07

Cost, per
cent.
4.90
4.41
3.943.1^
3.20
2.94

I also ask the attention of Congress to, the classification of sugar, as I
know not whether it will be treated of, or, if it is, how it will be treated
of in any other document brought to the attention of Congress; and
the subject is one of practical importance.
The Dutch standard of color is no longer a practical test of the saccharine strength of imported sugars, or of their A-alue for refining. The
Supreme Court, in a recent decision, has interpreted the existing law
to be, that customs officers may not look beyond the apparent color,, and
must classify the invoices thereby, though satisfied that the color is artificial and made to get a lower rate of duty. That standard was adopted,,
doubtless, belicAang that color shoAved value. The intention Avas to>
put upon sugar, duties in effect ad valorem. As it has come about, however, the grades of sugar highest in value, when thus artificially colored,,
come in at the lowest rate of duty. The purpose of Congress in adopting the Dutch standard is measurably defeated. Provision should be
made for just classification. This may be done by putting on an ad
valorem duty, by a specific duty, or by authorizing some standard other
than that of apparent color. Now, domestic producers do not get the




REPORT OF THE SECRETARY OF THE TREASURY.

XXIH

incidental protection meant to be given them. Importers, too, are
subject to embarrassment in fixing the rate of duty on their goods, and
otherwise.
The importance of a ncAv tribunal for the trial of customs cases, or of
the transfer of them to an existing tribunal, is again presented to Congress. The bill now pending givesJiMisdiction over them to the Court
of Claims. . It seems to this Department that this is a method economical
and speedy, and hence good for the disposal of these cases. I t Avould
relieve the Department of business Avhich it is not fully organized to
entertain and properly act upon.
The recommendation of last year is repeated, that the Secretary be
authorized to refer to the Court of Claims, in his discretion, any disputed
claims against the Government involving important questions of law
or fact. This would giA^e to claimants and to the Government a proper
judicial trial and judgment, and Avard off* the requests for re-examinations which are now urged upon every change of principal officers of
Departments.
I t is also recommended that there be authorized the appointraent of
three additional general appraisers. The necessity for this addition
has long been felt, the interests of the GoA^ernment having suffered in
some sections for the lack of a proper tribunal to determine disputes.
INTERNAL REVENUE.

From the various objects of taxation under the internal-revenue laws
the receipts for the fiscal year ended June 30, 1882, were as follows:
From spirits
:
$69, 873,408 18
From tobacco
•.,
:
- - - 47, 391, 988 91
From fermented liquors
16,153, 920 42
From banks and bankers
5,253, 458 47
From adhesive stamps, (including bank checks,
$2,318,455.14; friction matches, $2,272,258; patent
medicines, &c., $1,978,395.56)
7, 569,108 70
From penalties, &c
i.
199,830 04
From collections not otherAvise provided for
81, 559 OO
Total

:

146, 523,273 72

The increase of the revenue from spirits during the last fiscal year
was $2,719,433.30; the increase from tobacco in its various forms of
manufacture for the same period was $4,536,997.60; the increase from
fermented liquors was $2,453,679.21; the increase of revenue from taxes
on banks and bankers was $1,491,250.40; the total increase of internal
revenue from all sources was |ll,293,361.42.




XXIV

REPORT OF THE SECRETARY OF THE TREASURY.
\
REDUCTION OF TAXATION.

The Treasury Department was created by act of Congress, chapter
xii, of the year 1789. By the second section it was made the duty
of the Secretary " to digest and prepare plans for the improvement
of the reveaue." The word improvement meant enlargement. The
need was for more rcA^enue, and the lack was of subjects from which
it might be taken. In that sense that duty is now without care. The
times have changed. What now perplexes the Secretary is not wherefrom he may get revenue and enough for the pressing needs of the
Government, but whereby he shall turn back into the flow of business
the more than enough for those needs that has been dravfn from the
people.
There are now in theTreasury unused assets to a large amount, and
the daily receipts into the Treasury from customs and internal-revenue
taxation are about a million and a quarter.
It is plain from this, and the staitement with which this report begins of the estimated expenditures for the next fiscal year, that the
receipts fro^ revenue are, and are likely to be, in excess of the needs
of the Government.
From the inequality between daily large receipts aud comparatively
small daily disbursements there comes an evil effect upon the business
of the country. The collections by GoA^ernment are taken out of the
money market in sums and at dates which have little or no agreement
with the natural movement of money, and are returned to it with the
wsame inadaptation to commercial or financial requirements. Occasionally the large disbursements of the Government have created a
plethora of money; more frequently its large and continued withdrawals
of money have caused such a scarcity oi floating capital as to check
the proper movement of legitimate business. It is not only that the
amount in the Treasury is so much kept from the use of community;
the fact becomes an incentive and an aid to men who for their own ends
conspire to keep from that use other large sums. We have believed
that the laws of the States against primogeniture, the entail of estates, and the accumulation of personal property, stood in the way of
heaping up wealth in single hands, and gathering in single hands the
powder over others that great wealth gives. But so it is, that to-day
there are men so rich that by conspiring together, they can at will put
and hold hand on near as much money as Government can^ay hand to,
save by the use of its credit. The power thus had is used from time
fco time. It results, that violent and sudden contractions and expansions




REPORT OF THE SECRETARY OF THE TREASURY.

XXV

affliet the business community, and the Government is an unwilling
aider and abettor therein. I t has come about that the Treasury Department is looked to as a great, if not a chief cause of recurring stringencies, and the Treasury is called to for relief. Every Secretary of
the Treasury for years past, has had it brought clearly to his mind, and
' official expedients have been used to remedy the evil. Little of lasting A-alue has been accomplished thereby.
There is no adAdsable and lawful mode of disbursing an existing excess
of assets but that of the payment of the public debt. That debt is
substantially of two principal classes—that paj^able at the pleasure of
the Government, that payable at a fixed date in the future. The
former is also of two kinds—that bearing interest at three and a half
per cent., and that at three per cent. The latter may not be called in
for payment while any of the former is outstanding and uncalled. So
is the law of its creation. Of the former there are outstanding and uncalled over seventy millions. The interpretation put by the Department
upon the various laws out of which that debt has arisen, requires that a
call for it for payment must fix for the maturity and for the cessation
of interest a date three months off'. This,somewhat hampers the Department in so making calls as to keep up a timely succession. For caUs ^
a t three months off there must either be the funds in hand therefor at
the time when the call is made, or there must be a reliance upon the
probable prospective receipts. To wait before making a call until the
funds are in fact in hand would be to increase the evil of which I am speaking. To call in reliance upon receipts to come needs caution, lest by
changes in business currents or business prosperity they may be Ies- •
sened, and thus embarrassment ensue; so that, practically, the Department cannot with prudence work in this matter up to Avhat may turn out
to be its full ability. Whether the three per cent, bonds will require the
same length of call-time has not yet been determined. Nor is a call alAvays effectual in bringing in the debt for payment. The monthly statements of the public debt show that of matured obligations on which
interest has-ceased there are outstanding over elcA^en millions and a half,
some of it from the year 1837. Doubtless some of this has been lost
or destroyed, and will never be brought for payment. But bonds which
are in late calls come in slowly. Thus, of the calls preceding the last,
all of AYhich haA^e been some days payable at option of holders without rebate of interest, and Avhicli were, in all, for $55,000,000, there
. is outstanding $35,000,000 and OA^er.
Bonds ofthe other principal class are of several kinds, all payable at
a future date, and all are now at a high premium in the market. If it




XXVI

REPORT OF THE SECRETARY OF THE TREASURY.

were good policy for the Department to buy these at their premium, it
could by so doing easily free the Treasury from its excess of assets.
Yarious causes put these premiums, at a height almost unexampled. It is true that capitalists may buy them now, and they will, if
the present state of things continues, by the time they fall due and
payable, and are paid to them at their face, haA^e realized some interest upon the purchase price. A t the present premium on most if not
on all of them that will be short of three per cent. Calculations show
that at these premiums a purchase will not have yielded at the end of
their term three per cent, on the money paid for them. The Government by the purchase of them might in effect take an equal profit.
But it can save to itself three and a half per cent, by calling bonds of
that class. Hence, I do not perceive how a Secretary could justify himself to the country at large, in paying the GoA^ernment debt at rulings
premiums, when there is no requirement of law to be ansAvered, and no
convenience or pressing need of the Government to be met; unless
there is a great emergency, and general financial disaster is threatened,,
which only extreme measures of Governmental interference can turn
aside. I t is true that this Department has heretofore, and as late as
March 30, 1881, purchased bonds and paid for them the face A-alue
and a premium thereon.. The purchases on.that day were over fiA^e
millions and a quarter of dollars, and the premium paid near fif ty-fi A^e
thousand dollars. But the purchase was for the sinking-fund, and the
law of that fund required a purchase, and there were no Government
bonds redeemable at pleasure to the payment of which an excess of
assets might be applied. In former years there were large and continued purchases of bonds at a premium, but they went hand in hand
with sales of gold at a greater premium, and the Government made a.
profit by the transaction, and then, too, was for a time the requirement
ofthe sinking-fund, and there Avereno bonds paymentof which might be
made in invitum.
The anticipation of payment of called bonds Avithout a rebate of tbe
interest up to the day named in the call rests upon a different basis.
A prepa^^ment of interest upon the public debt is sanctioned by express
provision of laAv. (See resolution No. 25, of March, 1864, and U. S.
Eev. Stats., 3699.) A reference to the debates in Congress when that
resolution was under discussion, shows that the motiA^e forthe adoption of it was, that the Treasury Department might at any time break
a tightness in the money market by putting out money idle in its vaults.
The power thus given has pf late been used for that purpose. Thoiigb
this does give a gain to the holders of the bonds, it puts no loss upoB




REPORT OF THE SECRETARY OF THE TREASURY. XXVII
the Government. The Treasury uses for the prepayment, money t h a t
it needs not for use in other ways, and which yields no interest, and
which it must at last use for paying just what it pays in advance, and
to no more than the amonnt that it must at last pay. In paying a high
premium, however, it pays what it is not bound ever to pay, and it is.
not a certain event that it will ever make itself whole again, and to>
the extent of some part of the premium, it extinguishes no debt.
It is doubtless good policy to extinguish the long bonds of the Government, rather than those payable at its pleasure; for the time is a t
hand when, with the present rate of receipts and the present rate of
payment of the public debt, all the bonds subject to optional time of
payment Avill have been called in. Then, if there be a surplus in t h e
Treasury, there will be no outlet for it °save by purchase at large premium of long bonds, or the disbursement of it through appropriations,
for purposes beyond the ordinary and economical needs of the Government. It is, therefore, for Congress to consider the proprietj^^ of empowering this Department to buy the long bonds at a high premium. I f
it shall deem it politic to make general purchases of bonds at such premium for extinguishment, it should by laAv give to this Department
express authority so to do, and thus adopt that policy.
There have been other suggestions of modes of freeing the Treasury^
of an excess of assets. The national-bank act, section 35, (U. S. Eevised Statutes, sec. 5133,) provides for the designation of national
banks as depositaries of public moneys, security being taken in a corresponding deposit of United States bonds. All moneys received for
customs must be paid into the Treasury, and no part of them can b e
placed in national bank depositaries. It is seen that if they, or a^y
part of them, were deposited with national-bank depositaries, they
would soon find their way back into the currents of business in loansand discounts, as do now the receipts from internal-revenue taxation.
There are in the Treasury over fifty millions of dollars, being the
five per cent, fund for the redemption of nation al-bank notes, and t h e
fund for the redemption of notes of national banks that have failedo.
These funds haA^e not been treated by the Department, as " public
moneys" within the intent of thfe sections aboA^e cited, and have been
kept in the Treasury. If Congress should give an interpretation to^the words "public moneys" which would take in these funds, and they
be put on deposit with the publib depositaries, the same results Avould
follow as are above suggested as to customs receipts.
I t is argued by those who contend for larger use of the banks as depositaries that all other civilized countries have an advantage over




XXVIII

REPORT OF THE SECRETARY OF THE TREASURY.

t h e United States in the relations between their treasuries and the
money market; that their governments keep their accounts with the
strongest banks in the country, and in this naturalway of transacting
business they do not deprive their trade of the natural and necessary
serA^ices of floating capital; that it is only in the United States that
the GoA^ernment, chiefly by law and partly for Avant of the use of existing discretionary powers, deliberately disturbs the natural currents of
mone}^, inflicting upon trade a prolonged or spasmodic stringency by
ilocking up its receipts, or stimulating speculation by a sudden outpouring of its hoard; that all business is taxed by this system of legal
^caprice, and that it is probably no exaggeration to say that our Treasury statutes cause discounts in New (York City to average two per cent,
^higher than under the more natural system of employing the ordinary
•business agencies for the Government's collections and disbursements.
I do not yield to this reasoning to the fall extent that it is sought
t o push it. It may be well to giA^e the Department the power to make
larger deposits in the public depositaries. I conceive that the receipts
from customs, now to great extent pledged by law to the payment of the
•bonded creditor, should be - held in the Treasury; for in another course
there are disadvantages that might come to both Government and people,
vand which would, if they came, outweigh all advantages to either. I t
is safe to say that the country is never so sure of a continued course
of prosperity as that prudent forecast will not take heed .of possible
financial disturbance and disaster. If such should come, in such magnitud^ie as that the national-bank depositaries should be involved in
^common with all, it would be of the greatest good that the GoA^ernment had in its own hands the means to meet the daily calls upon it.
I t has chanced that, singly, national-bank depositaries have failed to
meet the drafts of the Government upon them, to its embarrassment.
^Greatly more so Avould it be if all or many should so fail together,
^nd together should have in keeping, in main, the assets of the Government. The policy of the Department has been to keep for the redemption of the United States notes a reserve of about forty per cent, of the
:;amount of them outstanding, and, besides that, to hold inoney enough
to meet all other obligations payable on demand. I t is a part of that
policy that the Treasury should itself hold that reserA^e. "You must
be ready for the evil day, and, being ready for the CAdl day, the evil
day almost never comes; not being ready for the evil day, it is certain to
•come." For these reasons I would not seek a release of the Treasury
from this complication, in these modes.
The radical cure for the evil is in the reduction of taxation, so that




REPORT OF THE SECRETARY OF THE TREASURY.

XXIX

no more will be taken from the people than enough to carry on the
Government with economy; to meet all its obligations that must be
met from year to year; to pay off' with reasonable celerity the part of
the debt which it may pay at pleasure, and to provide through the
sinking-fund for the payment of that which will become payable by
and by. The evil comes from the likelihood of the GoA^ernment holding from time to time a large surplus to be poured out in volume a t
uncertain and unforeseen times, and at times often inopportune for
the business of the country. There could not be that surplus, surely
not so great a one, if the subjects of taxation were lessened and the
rates made smaller upon those retained.
The figures are given aboA'-e which show an estimated surplus of
public moneys for the fiscal year ending June 30,1883, upon the basis,
of existing laws and including the sinking-fund, of $75,577,043.75.
Unless some disturbing cause comes in, not now foreseen, that sur^
plus will increase from year to year as the interest on the pubhc debt
decreases. For without such cause the revenues from all sources will;
not be diminished if the laws productive thereof remain unchanged.
As so great an annual surplus is the direct result of the existing revenue
laws, what will be the financial condition of the country if these laws
remain unchanged and taxation be not reduced?
In connection herewith, should be borne in mind the increasing expenditure fpr pensions, as likely to aff'ect in some degree the increase
ofsuri)lus.
The Commissioner of Pensions has furnished to this Department aib
estimate based upon facts on his records which gives these figures:
Number
Number
Number
Number

of claims filed to June 30, 1882
admitted
.\
on rejected
files
pending

817, 722'
472, 776
75, 268
269, 678
817,7^2

Of the number pending, 197,623 are entitled to "arrears," and the
first payment in the same, compiled from discharge or death to date,,
would not fall below $200,000,000.
The remaining 72,055 were filed subsequent to June 30, 1880, and
pension, when allowed, would commence from date of filing.
Last year he estimated that the average value on the 1st day of
January, 1884, of each claim allowed out of the class in which are the
197,623 above, would be $1,350, and he then reckoned that about fivesixths of that class would be found valid claims and would be allowed..




XXX

REPORT OF THE SECRETARY OF THE TREASURY.

The amount of United States bonds which are now due and payable
a^t the pleasure of the Government are as follows:
*
Fives continued at three and a half per cent
Threes
Total

:

; $155, 356, 350
259, 370,500
414, 726, 850

Those which next become redeemable are the four and a half per
<cents, which may be paid September 1, 1891
$250, 000, 000
Lastly, the four per cents, redeemable July 1, 1907
To which add the refunding certificates
Making ..

738,929, 600
423, 750
739,353,350

The amount of the funded debt redeemable a t a n y time before September 1, 1891, which will remain unpaid on the 30th of June, 1883,
is about $300,000,000, and upon the foregoing estimates for the
fiscal year ending June 30, 1883, the whole funded debt now redeema.ble could be paid before June 30, 1886. This would leave as the surplus for more than five years the amount of $600,000,000, undisposed
of in the Treasury, unless, yielding to the temptatiooi of seeming
wealth, expenditures be largely increased. The amount of the loan
redeemable in 1891 is only $250,000,000, and, as has been stated, no
other loan becomes redeemable until 1907, so that the surplus under
the conditions supposed will rapidly increase until that date. The
amount of the loan of 1907, as already appears, is less than $740,000,000,
so that, were it all redeemable, the whole public debt could be paid
from a surplus as great as estimated early in the fiscal year ending
J u n e 30, 1894.
I t has not often occurred in public financial history that embarrassment has arisen through superabundance of revenues. The condition
of the country in that respect, while it illustrates its almost boundless
resources, and establishes its credit beyond a question, presents difficulties of grave character.
The accumulation in the Treasury of a large surplus, which must occur
unless immediate measures are enacted for a reduction of the revenues,
is not to be placidly contemplated, and the question confronts us, in
A^hat manner may it best be prevented'?
The suggestion that the Government m^ij go into the market and
ptirchase its bonds not yet redeemable at the market rates is noted
in another place. As a temporary expedient, or for a relatively small
amount, this policy might be adopted. But were it established by law
as a permanent policy, the long bonds, now at a high premium, would




REPORT OF THE SECRETARY OF THE TREASURY.

XXXI

be so enhanced in price as to render the purchase of bonds impracticable within reasonable bounds.
A greater use of the national banks as depositaries is treated of
elsewhere herein. If that should be made, it would be but a return to
the channels of business of moneys taken from them without need,
and with the charge upon the people of the cost of collecting.
I respectfully refer to, my last report for my views upon this subJect. They have not materially changed. Now, as then, it is recom
mended to retain a t a x on spirits, tobacco, and fermented liquors, as
legitimate subjects of needful taxation. They are, in the main, the
means of indulgence, and shauld come before necessaries as subjects of
taxation. The tax from spirits for the last year was $69,873,408.18;
that from tobacco, $47,391,988.91; that from fermented liquors,
$16,153,920.42. The increase over the year 1881 was, on spirits,
$2,719,433.30; on tobacco, $4^536,997.60; on fermented liquors,
$2,453,679.21. The total receipts from the taxation of these articles
was for the last year about one hundred and thirty-three millions of
dollars. The estimated expenditures for this fiscal year are near three
hundred millions. The retention of this tax will still leave a large sum
to be raised from, other sources, so that there is not a pressing need of
a reduction here. Should it, however, be deemed expedient to reduce
the rate of duties on either of these articles, to obviate the inducement
to fraud, or to render such duties more equal, objection is not so
strongly urged against a moderate modification as against a total
repeal of all taxes thereon. Propositions haA^e recently been made to
abolish the whole system of internal revenue, but neither public sentiment nor political action indicates a desire on the part of tax-paying
citizens to strike out this class of taxes. All the other subjects of internal
revenue may be released from taxation, unless bank circulation be retained. It is a franchise, a privilege to furnish that, and it is of profit
to the banks and of expense to the Government, and hence is a preferable subject of taxation. The amount derived from it was $3,190,981.98
the last year, yet as the banks are liable to assessment by the States,
and thus to bear a share of public burdens, it is advisable to strike off'
the Federal taxation on their circulation.
The whole amount of internal revenue for the year ended
June 30, 1882, besides those from spirits, fermented
liquors, and tobacco, is
.$13,073,956 21
The tax on circulation and deposits of national banks
for the same period is
8,956, 794 66
Making




22,030, 750 87

XXXII REPORT OF THE SECRETARY OF THE TREASURY.
0

Deduct this amount from our surplus revenues, and we have still a
surplus of about $98,000,000.
To complete an eff'ectual reduction of taxation, it must be made on
some principal source of revenue, and such an one is the duties on
imports collected under the tariff laws, and an additional obAdousmethod of aA^oiding a surplus in the Treasury is a reduction of t h e
revenues from those.
The subject of the repeal of the tax on circulation and deposits of
national banks, and those upon adhesive stamps, and those derived
from banks and bankers, has been much discussed in Congress. Tt
Avill be seen, however, that the repeal of <3all these taxes would relieve
but a portion of the difficultj^
The revenues from customs for the current year are estimated at
$235,000,000, and under existing laws, and without a disturbing cause
now unforeseen, we may expect t h a t they will not diminish in futureyears. It seems, therefore, that a reduction should be made in the
revenue from the customs.
In reading the testimony before the Tariff' Commission it is to be observed that with scarcely an exception the representative of every industry,while conceding that a general reduction of the tariff is proper
and necessary, has claimed that its peculiar product can submit to no
reduction of the protection now afforded.
While the views of the manufacturers are to be weighed, it is manifest that they will never be able to agree upon a reduction of the tariff"'
duties.
All agree that a revision of the tariff* is necessary. The action of
Congress in creating a Commission for that purpose renders discussion on that point unnecessary. The action of that commission in
detail is not yet known to this Department. WhatCA^er may be its^
recommendations, they Avill no doubt receive respectful consideration.
The Secretary of the Treasury, however, cannot feel that he is relieved of responsibility because of that Commission. He deems it
proper, therefore, to make some recommendations upon the subject.
The whole amount of revenue from customs for the fiscal year
ended June 30, 1882, has already been stated at something more than
$220,000,000. The classes of merchandise paying the largest amount
of duties from customs are thefollowing, i n t h e order named: Sugar
and molasses, wool and manufactures from it, iron and steel and the
manufactures from them, manufactures of silk, manufactures of cotton,
amounting to about one hundred and thirt^^-seven and a half millions.
A substantial reduction upon each of the class of articles named is




REPORT OF THE SECRETARY OF THE TREASURY.

XXXIII

recommended. And it is belicA'cd that the time has arrived when a
reduction of duties on nearly all the articles in our tariff is demanded
and is feasible.
In addition to this, a careful revision of the tariff should be made
with a view to placing upon the free list many articles now paying a
duty.
It appears that the largest amount derived from any class of products, under the customs tariff, is that from sugar.
Sugar is a necessary of life for all classes in this country. The
average duty on it is equal to two and a half cents per pound, and
to nearly fifty-three and a half per cent, ad valorem. The amount
of cane-s^gar produced in this country is estimated at eleven per cent,
of the whole quantity consumed, and it is apparent that nearly the
whol'fe amount of revenue from this source is paid by the consumer, the
competition by home production not being sufficient seriously to affect
the price. The progress of industry in the production of sugar from
sorghum and the beet is not forgotten. I t is entitled to consideration.
I t is believed, however, that a substantial reduction of the duty upon
sugar may be made Avithout injustice to the producers of it in this
country.
Upon wool and iron and steel, and their manufactures, a large re^
duction must be made to materially lessen the revenues derived from
them, as the amount of imports Avill increase as the duties are lessened.
I t will probabl^^ be found that in general the reduction can chiefly
be made on the raw material or coarser manufactures, rather than
those upon which a greater amount of labor has been bestowed. The
duties on manufactures of silk, it is believed, may be reduced without
^injustice to manufacturers in this country.
..
. .
The cotton tariff' is found to be comi)lex and inconsistent, and it is
no doubt true that in most of the coarser classes of cotton fabrics our
manufacturers can compete with the world without protection.
Wines and spirits, which afford the largest amount of duty next to
the five classes enumerated, being articles of luxury, may well bear
any rate of duty deemed necessary for the revenue.
Without going further into details, the Secretary earnestly recom
mends a careful revision of the tariff^ Avith a view to substantial reductions.
The accomplishment of this is recommended to the present Congress,
which ha:.s been fully aware of the approaching financial situation, as
it is now presented, and has fully discussed the subject in some of its
bearings,
ni



XXXIV

REPORT OF THE SECRETARY OF THE TREASURY.
FOREIGN COMMERCE.

The foreign commerce of the United States during the last fiscal
year, including imports and exports of merchandise and specie, was
asfollows:
Exports : Merchandise
$750,542,257
Specie

49,417, 47^
799, 959, 736

Imports: Merchandise
Specie

$724, 639, 574
42,472, 390
767, 111, 964
—

'h

•-

Imports and exports during the year ended June 30,
1882....
$1,567,071,700
Imports and exports during the year ended June 30,
1881
1, 675, 024, 318
Decrease
,..,..
$107, 952, 618
The excess of exports of merchandise over imports thereof was less
for the last fiscal year than for any of the previous six years. This is
shown as follows:
Excess ofexports
over imports of
merchandise.

Year ended J u n e 30—

1876
1877
1878
1879
1H80
1881
1882

-.

.

$79,643, 481
151,152, 094
257,814,234
264,661,666
167,68:^, 912
259,712,718
25,902,683

.

The decrease in exports of cattle, provisions, breadstuffs, and cotton
duriug the last fiscal year, as compared with that of the preceding
fiscal year, is as follows:
Commodities.
Cattle
Indian corn
Wheat
Wlieat flour
Cotton, raw
Beef, fresh .
Bacon
Butter
Cheese
Lard




1881.
$14,1304,103
.50,702, 669
167,698,485
45, 047,257
247,695,746
9,860,284
53.616,981
6,256, 024
16, 380, 248
35,226, 575

1882.
800,227
28, 845,830
112, 929,718
36, 375,055
199,812,644
6,768, 881
42, 124,602
2,864, 570
14, 058,975
28,975,902

Decrease.
$6 503,876
21,856,839f
54,768,767
8,672,202
47,883,102
3,091,403
11,492,:379
3,391,454
2,:321,273
6,250,673

REPORT OF THE SECRETARY OF THE TREASURY.

XXXT

There has been an increase in the principal crops of the country in
1882 over those of 1881. Over 75 per cent, ofthe exports of domestic
merchandise is in products of agriculture.
I t is reasonable to expect
.an increase in the exports of merchandise and an increase in the baL
ance of trade in our favor. This expectation appears also to be justified by the fact that the exports of breadstuff's for the first four months
of the current fiscal year at the principal ports, exceeded such exports
for the corresponding months of the preceding fiscal year by $4,570,084,
The exports of petroleum for the fiscal year just closed exceeded those
for the preceding fiscal year by $10,917,097.
IMPORTS OF MERCHANDISE.

The imports of merchandise for the last fiscal year exceeded those
of the preceding year by $81,974,946:
• 1881,

Articles.
India-rubber and gutta-percha
Breadstulis
'Cotton manufactures
Fruits - -.
steel ingots . .
Potatoes .
•Silk manufactures
. .
.
Sugar and niolasses
.. '
Wool manufactures . - - • . .
,.

$11,054,949
10,663,675
31,219,329
12, 344,929
6,218, 453
874, 223
32,056,701
93,404,288
31,156, 426

1882.
$14,264,903
18,795,269
34,351,292
18,491,843
13, 341,052
4, 660,120
38, 985, 567
100,469, 022
37,361,520

Increase.
$3,209,954
8,1:31,5^4
3,131,963
6,146,914
7,122,599
3,785,897
6,928,866
7,064,734
6,205,094

During the fiscal year ended June 30,1882, the exports of specie were
$49,417,479, and the imports $42,472,390—a diff'erence of $6,945,089.
In the preceding fiscal year there was an excess of imports over exports of $91,168,650. This change came, probably, from the falling
off in exports of merchandise for the year.
The report of the Bureau of Statistics shows, in detail, the state of
the foreign commerce of the United States.
COMMERCE AND NAVIGATION.

The tonnage of vessels owned in the United States at the close of
the fiscal year 1882, by the records of the Register of the Treasury,
was 4,165,933 tons. Of this, 1,292,294 tons Avere in 2,185 vessels registered for the foreign trade, and 2,873,639 in 22,183 vessels enrolled and
licensed for the coasting trade and fisheries. There was a decrease of
43,292 tons in vessels iu the foreign trade, and an increase of 151,491
tons in those in the domestic trade. The increase in the tonnage of
this class of vessels for the fiscal year ended June 30,1881, was but
6,924 tons.




XXXVI

R E P O R T OF T H E SECRETARY OF T H E

TREASURY.

The vessels built and documented as A-essels of the United States
during the last fiscal year is shown by this table:
Number.

Kind of vessel.
Sailing-vessels .
Steam-vessels
Canal-boats
Barges
.Total

...

Tbns.

666
502
68
135

118,798. 50
121, 842. 66
7, 882. 0$
33,746.51

1,376

282,269.73

The number of documented vessels of all classes built during the
past fiscal year exceeds that of the fiscal year ended in 1881 by 263.
The undocumented vessels built during the past year, such as canalboats and barges, may fairly be presumed to have been much larger.
Tke total tonnage of vessels entered from foreign countries was
15,630,541 tons during 1881, and 14,656,499 tons during the year
ended June 30, 1882—a decrease of 974,042 tons. The American tonnage entered in the foreign trade was increased 49,141 tons, and the
foreign tonnabge was decreased 1,023,183 tons. This tonnage is com^puted from the number of entries of vessels, and not on the number
of vessels, and is limited to the seaboard ports.
Of the merchandise brought in at seaboard, lake, and riA^er ports
during the fiscal year 1882, $130,266,826 Avere imported in American
vessels, and $571,517,802 in foreign. Of the exports of merchandise,
$96,962,919 were shipped in American, and $641,460,967 in foreign vessels. Of the combined imports and exports of merchandise, 16 per
eent. only was conveyed in American vessels.
EXPORTS AND IMPORTS AND QUARANTINE OF NEAT-CATTLE.

Legislation on these subjects has tAvo objects: First. The extinctioB
and prevention in the United States of the disease known as pleuropneumonia, or lung plague. Second. Theincrease of our commerce in
neat-cattle with other nations, especially Great Britain.
The disease did not begin in this country, the first cases having been
traced to foreign origin. It is found on the Atlantic coast in scA^eral
places from IsTew York to Baltimore, but has not been felt in l^ew Bngiand
for many years. I t is a contagious disease, of mahgnant type, hkely to
spread through herds, and from herd to herd. Mindful that the number
of neat-cattle in the United States in 1880 was about 36,000,000, which,
at $25 per head, would be valued at $900,000,000, and that there has
probably been increase rather than decrease, it is seen that this is a
matter of moment. The spread of the disease on the Atlantic coast




REPORT OF THE SECRETARY OF THE TREASURY, XXXVII

alone would make serious loss, though it is more readily controlled
where cattle are penned or housed. The starting and spread of it in
the great open cattle ranches of the West would be calamitous. Its
contagious character, and the difficulty of treating it in large herds
roaming at will, make it formidable. Should it get a firm hold there, it
would badly hinder the raising and sale of cattle, which is a means of
wealth and prosperity to many of our people.
To prevent it being brought from abroad, the Department, in July,
1879, established regulations subjecting all imported cattle to a quarantine of ninety days. As there was no appropriation therefor until
the last session of Congress, importers were obliged to quarantine their
cattle at their own expense; and as the Dominion of Canada, under like
provisionsfor quarantining imported.cattle,made liberal provision therefor, most of the cattle imported into the United States were brought
from abroad first into Canadian ports.
Using an appropriation ofthe last session, this Department, through
the Treasury Cattle-Commission, has taken active measures for establishing for imported cattle quarantine stations and shelter at Portland,
(Me.,) Boston, Kew York, Philadelphia, and Baltimore. The design is
to furnish buildings with sufficient land, so arranged that the cattle
in quarantine may be isolated, not only from cattle already in the country, but each importation from others, and be kept constantly under the
inspection of Government officers. I t i s expected that these arrange
ments will be completed at the ports named within a few weeks.
The second object in view is to promote the trade in neat-cattle with
foreign nations, especially with Great Britain.
The number of live cattle exported, chiefly to Great Britain, in the
year ended June 30, 1881, was 185,707, valued at $14,304,103. For the
year ended June 30, 1882, the number was 108,110, a decrease of 77,597,
and in value of $6,503,876. The decrease was, hoAvever, no greater in
proportion than that generally in the exportation of articles of food.
By an order of the Privy Council of Great Britain of February, 1879,
all cattle imported from the United States must be slaughtered at the
port of arrival within ten days. This order, deemed necessary to prevent infection, will, no doubt, be rescinded, whenever the United States
shall adopt measures rendering it reasonably certain that importations
of cattle from this country will not introduce the disease from which
the people of Great Britain haA^e heretofore suff'ered loss.
This order causes great loss on cattle exported to Great Britain from
this country, as only animals fit for beef can UOAV be exported, and the
shrinkage in them on immediate slaughter, after the waste of a sea
voyage, Avithout recuperation, is estimated at not less than ten per centi



XXXVIII

R E P O R T O F T H E SECRETARY OF T H E TREASURY.

There is a great demand in England for stock cattle, to be fed
and fattened on English soil, which we could readily supply, were i t
not for the order referred to. Under a recent appropriation, this Department, through the Cattle Commission, is arranging with the various
railroad companies for the transportation of cattle from the Westem
States to the seaboard so as to save them from contagion on the route^
When these arrangements are perfected and found efficient, we may
fairly ask of Great Britian that the order for immediate slaughter of
American cattle imported into that country be rescinded.
The report of tEe Commission speaks in detail on this subject.
REVENUE MARINE.

There are now thirty-seven vessels in the Eevenue-Marine Service,
thirty-two of which are steamers, andfiA^esail-vessels. They are manned
by 199 officers and 774 men.
This was their regular work for the year ended June 30, 1882:
Aggregate number of miles cruised
303,562'
Number of vessels boarded and examined
24, OOS
^Number of vessels seized or reported to the proper authorities for violations of law
,
1, 042
Number of vessels assisted Avhen wrecked or in distress . . .
147
Number of persons rescued from droAvning
Ill
Estimated value of imperilled vessels and cargoes assisted. $2,254, 716
Besides the regular duty, the service has done special work.
In May last, at the request of the NaA^y Department, the Corwin, o£
the Revenue Service, Avas sent to St. Lawrence Bay, Siberia, to bring
aAvay the officers and crew of the naval relief and exploring steamer;^
Rodgers, burned at that place. The Corwin made a second cruise toour most northern waters, to protect the seal-fisheries and other Government interests in Alaska. She ascertained the fate of Master Putnam, of the U. S. Navy, who was carried to sea upon an ice floe and
perished. She cruised two hundred miles to the eastward of the signal
station, at Point Barrow, finding no open violations of law. Coming,
back by the Aleutian Islands and Sitka, her commander. Lieutenant
Healy, in November, quelled an outbreak of the Indians upon the mainland north of the latter place.
The revenue-steamer McLane, at Galveston, Tex., co-operated witli
the Marine-Hospital SerAdce in confining and alleviating the yellow-fever
epidemic, carrying physicians, nurses, medicines, and supplies.
The revenue-cutters have also co-operated with the Life-Saving Service and the Light-House Establishment.
The expense of maintaining the Revenue Marine for the fiscal year
ended 30th of June last Avas $846,423.34.




REPORT OF THE SECRETARY OF THE TREASURY. XXXIX
The new vessel for duty on the southern coast, authorized by Congress in 1880, has been completed and placed on duty, and named
"Walter Forward." The appropriation of $75,000, made at the last
session, has, under the authority of the law, been applied to the rebuilding of the revenue-steamer ^' Commodore Perry.''
The recommendation made last year, of a new vessel for the southern coast, to replace one worn-out and not adapted for the service, is
rencAved. The amount of $75,000, necessary for this purpose, has been
included in the estimates.
The recommendation of the last annual report and of those of several
of my predecessors in office, that Congress provide for the establishment
a retired list and the extension of the pension laws to the Eevenue
Marine, is rencAved.
LIFE-SAVING- SERVICE.

The operations of this useful service have been continued with success.
There were at the close of the fiscal year 190 stations in commission.
The whole number of disasters to documented vessels, reported by the
distriat officers to have occurred within the field of station operations,
is 286. The number of persons on board of these vessels was 2,268,
Of this number, 2,256 were saved, and 12 only lost. There were
succored at the stations 450 shipwrecked persons, 1,344 days' relief in
the aggregate being afforded them. The estimated value of property
involved in these disasters was $4,757,892, of which $3,099,537 was
saved and $1,658,355 lost. The number of vessels totally lost was 67.
There have also been fifty-six instances of disaster to smaller craft,
a s sail-boats, row-boats, &c., on which were 126 persons, all of whom
were saved. The property involved in these disasters was $7,850, of
which $6,450 was saved and $1,400 lost. The aggregate is this:
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total

number of disasters
.
342
value of property involved
$4, 765, 742
value of property saved
$3,105,987
value of property lost
$1,659, 755
number of persons on board
2,394
number of persons saved
2,382
number of persons lost
12
number of shipwrecked persons succored at stations.
450
number of days' succor afforded
1,334
number of vessels lost
67

Besides the persons saved from vessels, there were twenty-nine
rescued who had fallen from piers, Avharves, &c., and who, Avithout the
aid of the life-saving crews, would i)robably have been droAvned. The
twelve persons lost during the year are shown, by the investigation
held upon each case, to haA^e been beyond human aid. The loss of life is




XL

REPORT OF THE SECRETARY OF THE TREASURY.

smaller than that of any preceding year, with one exception, although
there were forty-tAvo more disasters than in any 3^ear before since the
organization of the service. When the number of disasters is considered, and it is remembered that the life-saving stations are located, by
selection, at the most fatal points of our dangerous coast, the small loss
of life and property is remarkable, and speaks well for the efficiency of
the serAdce. I t is claimed that the loss of life from marine disaster,
upon our coasts, since the general extension of the service thereon, in
1876, has been reduced nearly 75 per cent.; that while in 1876, and
before that, one person out of twentj^-nine on board wrecked vessels
was lost, there has been a constant decrease, until the loss is but one
out of every onehundred and thirteen; and this result is almost entirely
attributable to the Life-Saving Service.
The service has never been in so good condition as at present. The
legislation of the last session of Congress has supplied its main wants,
and established the conditions for high utility, in its prime object of
saving life and its secondary ones of protecting commerce and aiding
the collection of the revenue. This legislation has already had a
marked eff'ect upon the status of the establishment, and particularly
upon its morale. The provision for the ampler pay of the employes,
and for aid to those among them Avho may be disabled in the line
of duty, or, in case of .fatality, to their widows and orphans, makes
them feel that their services are appreciated, and insures cheerful zeal
and fidelity in doing duty. I t enables the Department to obtain, in
instances, better men than before. The crews are now of good capacity
and character. I t is a rule, in forming the crews, that regard be had for
qualification, to the exclusion of political or other considerations.
Faithful adherence to this rule is a condition of the success of this
service.
Owing to the late date atwhich the. appropriations passed Congress,
not much has been done in establishing the new stations authorized by
the act referred to. One has been built at Peaked Hill Bar, Cape Cod;
and one at Muskeget Island, on the coast of Massachusetts, is nearing
completion. Three are in process of construction on the coast of North
Carolina. Sites have been selected for others, and in some instances
the titles secured.
THE LIGHT-HOUSE ESTABLISHMENT.

During the fiscal year tbe Light-House Establishment has put into
operation eighteen new light-stations, eighty new river lights, ^ve new
fog-signals operated by steam or hot air, three new automatic whistling.buoys, one new bell-buoy, and ninety-three new buoys of the ordinary




REPORT OF THE SECRETARY OF THE TREASURY.

XM

kind. I t has discontinued two lights which are now no longer needed,
and has changed the characteristics of ten others, that they may be
more useful than heretofore.
The new light-house on Stannard's Rock, Lake Superior, Avas Mghted
on the 4th of July. This work, Avhich was specially difficult, is fuUy
described in the Appendix to the Annual Report of the Light-House
Board.
The board refrained from making recommendation as to lighted
buo;^'S until the results of the experime^nts made in foreign waters were
ascertained. These buoys have now proved to be such valuable and
comparatively inexpensive aids to navigation that they have been
adopted into several of the light-house systems of Europe. The board
bas recently had occasion to place a lighted buoy to mark a wreck ih
qne of the channels leading into the port of New York, which could be
successfully marked in no other manner.
The work of changing the burners of the lights in the several lighthouse districts, so as to substitute mineral oil for lard oil as an illuminant, is now so far completed that on the 1st of January next mineral
oil Avill be used in all except the light-houses of the first order.
The appropriation made for erecting electric lights at Hell Gate will
enable the board to transfer its experiments with the electric light from
the laboratory to a light-house, where it can have a working test.
Attention is called to the board's annual report for further details
with regard to the Light-House SerAdce.
COAST AND GEODETIC SURVEY.
The operations of the Coast and Geodetic Survey, both in the field
and in the office, have been steadily advanced.
Topographic and hydrographic surveys have been carried on on the
Atlantic, Gulf, and Pacific coasts. Aid has been given to the State
surveys in i)rogress in nine interior States.
Data and material have been accumulated for additional volumes of
the Atlantic Coast Pilot, and for new editions of the Coast Pilots of
Galifornia, Oregon, Washington Territory, and of Alaska. New charts
and new editions of old charts have been published. The annual publication of tide-tables has been continued.
In the estimates for the prosecution of the surA^ey is an item for the
eonstruction of a steam-vessel specially adapted to the survey pf the
coasts and navigable passages of the Territory of Alaska. The growing importance of that country and the needs of its commerce and
eavigation recommend this proposition to the favorable action of Congress.



XLII

REPORT OF T H E SRCRETARY OF T H E

TREASURY.

THE MARINE-HOSPITAL SERVICE.

During the year 36,184 patients received 333,475 days relief in hospital. Transportation to their ow^n homes.was furnished to scA^en incurable patients. Fifteen seamen have been furnished treatment at
the Government .Hospital for the Insane; 306 seamen were examined
physically as preliminary to shipping; 2,090 pilots were examined for
color-blindness; and 3,278 seamen Avere vaccinated, because of the
prevalence of small-pox. The receipts Avere $408,215.69, and the gross
expenditures $468,120.16. These expenditures include $54,192.20,
on account of extraordinary alterations and repairs to hospital buildings. Less this amount, $413,928.14 was the net expense of the service. On July 1, there Avas an unexpended balance of $177,869.85^
$50,000 of which will be required for additional repairs then under
contract, and $15,000 more for contemplated alterations. The hospitals
generally.are in good condition. The recommendation heretofore made
for the establishmeut of a " snug harbor" for those sailors and boatmeii
permanently disabled, and that for the physical examination of all seamen before shipping are rencAved. Of the 2,090 pilots examined for colorblindness, sixty-three Avere rejected as being color-blind, while of the remaining 306, tAventy-four were rejected for various disabilities. There
is now no complaint against the examination for color-blindness, and it
is believed that the Department would haA^e no difficulty in carrying out
the law for the general physical examination of all seamen. One hundred and fifty-four deaths are reported of passengers on voyages from
foreign ports to this country. Report thereof is the beginning of
statistics on the hygiene of merchant vessels, to meet the intention of
Congress in providing for the inspection of those vessels, to show
the relative mortality in classes of them. To complete them, the reports should be kept up for years.
An epidemic of small-pox broke out on the Upper. Missouri riven^
where there was no local sanitary law, and the Department, being
called upon, made use of the customs force to suppress the disease.
In my judgment, the hospital-tax should not be reduced until seamen
request it, or until Congiess shall make annual appropriations for the
support of the service. When the tax Avas but 20 cents per month, the
Department Avas obliged to deny relief to many suffering seamen ; now
relief is denied to few, if any, who are entitled to receiA^e it. The entire number of applicants rejected the last year Avas 979. These
were mostly in the larger cities, and were generally longshoremen
and fishermen, in many cases persons who were not sailors. The
number of persons rejected who had everbeen sailors was small. The



c^

REPORT OF THE SECRETARY OF THE TREASURY.

XLIII

service meets the necessities of those who are its legitimate beneficiaries, and the tax was originally increased from 20 cents to 40 cents afe
th© request of those who are eligible to become such.
STEAMBOAT-INSPECTION SERVICE.

This table shows steam-vessels inspected, their tonnage, and the
officers licensed in the several divisions of navigation, during the fiscal
year ended June 30,1882:
Steamers.

Divisions.
Pacific coast
Atlantic coast
Western rivers
Nortbern lakes . - .
Gulf coast

.

...•.

Total

" .

...

„

Officers
licensed..

Tonnage.

320
2,332
944
1,175
356

121,493.91
587,349. 37
197,729.60
298,709. 64
73,282.11

1,258^
8,2764,805
4,199>
1,929>

5,117

1,278,564.63

20,467

I t is an increase over the preceding year—
In number of vessels
In tonnage
M number of officers

33S
74,561. 53
2,669^

Receipts were—
From steam-vessels
From hcenses
Total

$177,841 30
102,048 00
279,889 30

The expenses were—
Salaries of inspectors and clerks
Travelhng and miscellaneous expenses

$189, 744 I f
37, 871 46-

Total.

227, 615 63^

Unexpended

$52,273 67

Increase in receipts from inspection of steam-vessels over
1881....
$10,212 09?
Decrease in receipts from officers' licenses
37,877 00
Net decrease for the year

27, 664 91

The decrease in receipts from licensed officers is because of the
amendment of 1882 (April 5) to. section 4458, ReAdsed Statutes. I t
reduced the license fees from $10 and $5, according to grade, to fifty




XLIV

REPORT OF T H E SECRETARY OF T H E

TREASURY.

<jents in all cases. I t is likely that this amendment will bring the
yearly receipts below the expenditures. There is, however, an accumulation of funds to the credit of this service of near three-quarters ef a
million dollars. This will for some years meet any deficiency. Before
it is wholly used the service may become self-sustaining by the inxcrease in the number of vessels to be inspected and the fees collected
therefrom. The fees have increased for several years about $6,000
yearly.
^
The number of accidents to steam-vessels during the year resulting
in loss of life was 41; from—
Explosion
,
Fire
Collision
8nags, wrecks, and sinking

15
7
16
3

The number of lives lost by accidents from various causes during
t h e fiscal year ended June 30, 1882, was 205; from—
Explosion
Fire
Colhsion
Snags, wrecks, and sinking...
Miscellaneous casualties
Accidental drowning ..„

..

55
60
34
6
6
46

A decrease from last year of sixty-three. Of the lives lost, fifty-six
are reported as those of passengers. The rest were employ6s of the
'vessels, many losing their lives through carelessness, begot by famili.arity with dangerous duties. It is estimated that there were carried
during the year 354,000,000 passengers.
IMMIGRATION.

The execution of the act to regulate immigration approved August 3,
1882, has disclosed certain defects in the statute which seem to require
legislative remedy.
While the act gives the Secretary of the Treasury supervision of the
^business of immigration to this country, it enables him to exercise this
supervision only through commissioners appointed by the Governors of
.States in Avhich lie the ports at which immigrants land. He is further
t o supervise the business only under the stipulations of contracts entered into with such commissioners. Most of the collectors of customs
have informed the Department that the amount of immigration at their
respective ports is not such as to warrant the appointment of commissioners. At two of the ports at which immigrants needing relief
are likely to arrive, namely, Baltimore and New Orleans, no commis-




REPORT OF THE SECRETARY OF THE TREASURY.

XLT

sioners have been appointed by State authority, and hence the law iS'
there inoperative. At the ports of New York, Philadelphia, and Boston
commissioners have been appointed, and the statute is in operation
more or less successfully.
In collecting the tax of fifty cents levied by the act on every
alien passenger, not a citizen of theUnited States, arriving by a sail or
steam-vessel from a foreign port, it is found that many of the passengers are tourists, many intending a temporary sojourn in this^
country, and many are minors. Under the construction put by this
Department on.this provision of the statute, it has restricted the collection of this tax to alien passengers seeking a permanent residence in
this countrj^, including in that class minors contemplating a lasting home
here. Under this rule the sum collected at most of the ports has exceeded the demands for immigrant relief. At NewYork it has steadily
fallen behind these demands in an amount betAveen four and five thousand dollars per month. If the relief of immigrants is to be secured,
some provision is needed for a deficit of this character, inasmuch
as the particular sums collected can be expended only at the portswhere the immigrants arriA^e; and the disposition of the excess at some
ports should also be provided for.
It is respectfully suggested that the laAv is peculiarly framed, in this r
that while its execution is charged upon this Department, yet this
Department must act through subordinates doing the practical work.
They are to be appointed by State authority, and that authority may
fail to appoint, and they may or may not be paid a proper remuneration if appointed; and the rules and regulations which this Department
by direction of the statute is to establish are virtually restricted by t h e
terms of the contracts into which it may be able to enter with the State
boards or commissioners. The law is, therefore, in its essential features
one of uncertain operation. The thorough execution of it needs t h e
existence of an administrative bureau, with its proper body of officials.
But there is no provision in the act for such bureau, no provision for
administrative officers other than as above stated, and no provision
for the direct control of the business by this Department.
Under the proAnsions of section 4 of the act, it is provided that all
foreign convicts, except those convicted of political offences, shall, upon
arrival, be sent back to the nations where they belong and whence
they came. This pro Adsion may give rise to comphcations with foreign
countries growing out of demands for the return of convicts. First:
if the treaty stipulations with a foreign country require the direct return
of a convict belonging to that country to its accredited agents, this law




X:LVI

REPORT OF THE SECRETARY OF THE TREASURY.

might conflict with the treaty in requiring a return of the couAdct
Iby the master of the vessel in which the convict was a passenger, instead of a delivery of the convict to the agents of his country. Secondly: the law is itself ambiguous in its directions, as the country to
which the convict belongs may not be that whence he came. The Department has endeavored to remove this difficulty by adopting in its
regulations promulgated on the 7th of August last the provisions for
the return of convicts embodied in section 5 of the '' Act supplement^:^ry to the acts in relation to immigration," approved March 3, 1875.
But the recent statute should be so amended as, on its face, to be free
ifrom ambiguity.
NATIONAL BOARD OF. HEALTH.

The report of the National Board of Health for the fiscal year ended
J u n e 30, 1882, shows an expenditure of $98,523.07.
This expenditure has been made chiefly in aid of State and local
boards of health and of local quarantine stations, in preventing the
ooming in of yellow fever and small-pox from foreign ports and the
spread of them by river and railroad.
The act of June 2, 1879, under which some of the operations of the
board are conducted, will expire by limitation on the 2d of June, 1883.
If it be deemed advisable to continue the work on which the board is
•engaged, additional legislation will be necessary, and appropriations,
based upon the past experiences of the board, amounting to $150,000,
will be required, and $100,000 for use in case of epidemics.
The details of the work of the board, the results achieved, and the
appropriations required for its continuance are shoAvn in the annual
report of the board, which is transmitted.
APPROPRIATION FOR PREVENTING T H E SPREAD OF EPIDEMIC DISEASES.

One hundred thousand dollars were appropriated by Congress at its
last session, to be used, in the discretion of the President, for preventing the spread of epidemic diseases. The expenditure was by him
•committed to this Department, because it had ready the serAdces of
trained members of the Marine-Hospital Service, of the Revenue-Ma.riue Service, and the Customs Service.
The Governor of Texas applied for aid in checking the spread of yel-.
low fever in that State. The Surgeon-General of the Marine-Hospital
Service was charged Avith the duty of rendering it. The trust was fulmied Avith judgment and zeal, and the spread of the fever checked*




REPORT OF THE SECRETARY OF THE TREASURY. XLVII
The system of cordons formed by him and his official coadjutors was
well conceived and useful. The result of their operations shoAVS that
ihe management of such matters may well be confided to them.
ALASKA.
Early attention should be given to the establishment of civil government for Alaska Territory. The importance of that land is not, I
fear, fully recognized. It is rich in timber and in the supplies which
the ocean gives; and with the present rapid cutting down of the forest
on lands nearer niarket, and the ruthlessly wasteful modes of taking
fish on coasts and in rivers nearer at hand, it will too soon become the
resource of the country for those products of nature. Moreover, the
extent and richness of useful mineral deposit and of precious metals
there are not yet fully known, though the indications are that they are
great. Were civil government established, immigration and permanent settlement would be encouraged and the way made ready for the
profitable use of the natural advantages which that region proffers.
There is no lawful authority in that Territory to dispense justice and act
upon conflicting claims, unless that assumed by customs officers may be
called such. There should be there, as elsewhere, the ready protection
of law, administered by officers and in ways, themselves lawful; and
then material and social development would go forAvard. The Treasury
Department should not be charged with the responsibility of administering the affairs of that Territory, except in so far as they come within
its legitimate functions; certainly not without some well-defined rule
of action.
The Alaska Commercial Company has taken during the past year
nearly the maximum number of seal-skins permitted uuder its lease,
paid the tax due thereon, as well as the rent of the islands, and otherwise performed its duties under its lease.
DISTINCTIVE P A P E R .

There have been received and duly accounted for since the last report 10,371,950 sheets of silk-threaded distinctive-fibre paper for the
printing of United States notes, national-bank notes, gold and sih-er
certificates, registered bonds, checks, and other obligations of the
Government. The use of this paper continues to give satisfaction,
and it is believed furnishes an important defence against attempts at
counterfeiting.
During the same period there have been received 19,748,000 sheets
of the distinctive paper adopted for the printing of internal-revenue
and customs stamps.



XLVIII REPORT OF THE SECRETARY OF THE TREASURY.

The United States legal-tender notes, national currency and
miscellaneous securities, received by this office during the fiscal year
, ended June 30, 1882, for final count and destruction, amounted to
$169,665,573.75 J, and United States legal tender notes, national currency^
United States bonds, and other obligations mutilated in process of
printing, and unissued notes, received for destruction, amounted to
$40,841,164, making an aggregate of securities counted, cancelled,
and destroyed, of Avhich details A\dll be found in the tables accompanying this report, of $210,506,737.75J.
BUREAU OF ENGRAVING AND PRINTING.

The work of this bureau steadily increases. The aggregate deliveries for the year are over twenty per cent, greater, the expenditures
for it less than twelve per cent, greater, and the force of employes about
ten per cent, greater than the year before. All the engraving, platepriuting, and work incidental thereto required by the Treasury De^
partment is now done in this bureau under the direct supervision of
the officers of the Government.
^
The matter of the use of steam-power presses for printing was OB
July 10,1882, referred to a special committee, who still have it incharge.
OAving to a pressure of work on the three per cent, bonds and on th@
new form of circulating notes for national banks which availed themselves of the act of August 12, 1882, the labors of the committee were
necessarily broken in upon, and they have not yet finished the task.
set them to do,
PUBLIC BUILDINGS,

Congress at its last session authorized the erection of thirty-sevem
neAV buildings for public use, including four marine hospitals; the puBchase of ohe hospital-building; the extension and remodelling of the
custom-house at Buffalo, and that of the court-house and post-office at
Des Moines, Iowa. This contemplated an aggregate final cost of
$6,293,000; of which $3,258,000 were at once appropriated. Sites have
been selected for nine of these buildings, and a site for the building at
Jackson, Miss., for which appropriation was made at the previous session. Steps have been taken for the selection of others, where jurisdiction over the land has been ceded by respective States, Where
this has not been done the Department awaits the action of Legislatures.




REPORT OP THE SECRETARY OF THE TREASURY.

XLIX

I call attention tQ a recommendation in the report of the Supervising
Architect, that the authority for purchasing land at Pensacola be not
limited to the extension of that now owned by the United States, and
that the Government may acquire a new site, if found advisable.
Of the buildings in progress under former authorizations, five have
been finished during the year, and on twenty work is in progress.
There has been expended during the year on the public buildings
under control of the Department, $2,349,249,65 for construction,
$160,618.03 for repairs, and $137,137.06 for heating apparatus, elevators, vaults, safes, and locks.
^
DISTRICT OF COLUMBIA.

The net expenditures on account of the District of Columbia for the ,
fiscal year 1882 were $3,330,543.87. The revenues deposited in the
Treasury for the same period were $1,715,176.41.
Since December 1, 1881, the bonded indebtedness was reduced by
operation of the sinking-fund $250,350, and the annual interest charge
upon the District debt was reduced $13,795.05. Since the office of the
commissioners of the sinking-fund of the District of Columbia was abolished and their duties and powers were transferred to the Treasurer qf
the United States by the act of Congress of June 11, 1878, the funded
debt has been reduced in the principal sum $1,189,250, and the annual
interest charge thereon has been reduced $69,587.67.
The several reports of the heads of offices and bureaus are hercAvith
respectfully transmitted.
The Department is pleased to report that as yet there is no deficiency
in the appropriations placed by Congress at its disposal,
CHAS, J. FOLGER,
Secretary.
To the Honorable
^
The S P E A K E R OF T H E H O U S E OF REPRESENTATIVES.
IV







TABLES ACCOMPANYING THE EEPOET.

IF







REPORT OF THE SECRETARY OF THE TREASURY.

6

T A B I i E A,—STATEMENT of the N E T B E C E I P T S {by warrants) during the fiscal
year ended June 30, 1882.
CUSTOMS.
Quarter
Quarter
Quarter
Quarter

endeci September 30.1881
euded December 31,1881
ended Marcb 31, 1882
ended June 30,1882

Quarter
Quarter
Quarter
Quarter

ended
ended
ended
ended

$59,184, 469 15
49, 049, 543 98
58, 585,485 33
53, 591, 231 79
•
• $220, 410, 730 25
SALES o r PUBLIC LANDS.

September 30,1881
December 31,1881
March 31, 1882
June 30, 1882

948, 368 19
1,154,120 39
1, 241, 287 44 .
1, 409, 364 35

4, 753,140 37

INTERNAL REVENUE.
".
:

Quarter
Quarter
Quarter
Quarter

ended September 30,1881
ended December 31,1881
euded Marcb 31, 1882
ended June 30,1882

"•37, 575. 502 22
37, 884, 262 83
30, 362,131 93 '
40, 675, 698 47
146, 497, 595 45
TAX ON CIRCULATION, DEPOSITS, ETC., OF NATIONAL BANKS.
Quarter enrled Septeraber 30, 1881
4, 307, 988 86
Quarter ended December 31,1881
12,610 82
Quarter ended Marcb 31, 1882
4, 563, 707 87
Quarter euded June 30, 1882
72, 486 90
,
8,956,794 45
'
REPAYMENT OF INTEREST BY PACIFIC RAILROAD COMPANIES.
Quarter ended September 30,1881
59, 999 49
Quaiter ended December 31,1881
• 221, 760 50
Quarter ended Marcb 31, 1882
225, 578 03
Quarter ended June 30, 1882
333, 216 35
840, 55 i 37
CUSTOMS PEES, PINES, PENALTIES, AND FORFEITURES.
Quarter ended September 30,1881
,
••
329, 322 89
Quarter ended December 31, 1881
361, 206 89
Quarter euded March 31, 1882
.'
351, 505 65
Quarter ended June 30, 1882
301,312 57
1, 343, 348 00
FEES, CONSULAR, LETTERS PATENT, AND LAND.
Quarter ended September 30,1881
639,180 08
Quarter euded December 31,1881
537, 405 92
Quarter ended Marcb 31, 1882
657, 863 93
Quarter euded Juue 30,1882
f 04, 541 04
2, 638, 990 97
PROCEEDS OF SALES OP GOVERNMENT PROPERTY.
Quarter ended September 30,1881
66, 363 58
Quarter ended December 31,1881
.
"
88, 862 96
Quarter ended Marcb 31, 1882
79, 870 17
Quarter ended June 30,1882
79, 863 14
314, 959 85
Quarter
Quarter
Quarter
Quarter

euded
ended
ended
ended

Quarter
Quarter
Quarter
Quarter

REVENUES OF DISTRICT OF COLUMBIA.
ended September 30, 1881
158, 445 95
ended December 31, 1881
1, 078, 281 41
ended Marcb 31, 1882
209,822 06ended June 30,1882
268,626 99

PROFITS ON COINAGE.
September 30, 1881
December 31,1881
Marcb 31,1882
June 30,1882

809, 317
859,156
1, 561, 089
887,130

80
26
03
64

4,116, 693 73

1, 715,176 41

MISCELLANEOUS.
Quarte/ended
Quarter ended
Quarter ended
Quarter ended

September 30, 1881
December .31, 1881
Marcb 31, 1882
June 30,1882

Total ordinarv receipts
Casb in Treasury June 30,1881..,
Total




4,009,596 15
1,381,047 97
1,18.}, 588 69
5,083,144 32
•

11,657,377 13
403, 525, 250 28
252, 506, 023 46
656,031,278 74

REPORT OF THE SECRETARY OF THE TREASURY.
T A B L - E M.—STATEMENT of Hie N E T DISBUBSEMENTS {hy lo arr ants) during
the fiscal year ended J u n e 30, 1882.
CIVIL.
Congress
Executive
,
Judiciary
G o v e r n m e n t of T e r r i t o r i e s . .
Subtreasuries
P u b l i c l a n d offices
Inspection o f s t e a m vessels .
M i n t a n d a s s a y offices

542,982
252,822
536, 857
213, 338
350,185
732, 370
228, 371
185,458

10
05
39
70
47
37
46
88

T o t a l civil

$18, 042, 386 42
FOREIGN

Diplomatic salaries
Consular salaries
:
C o n t i n g e n c i e s of c o n s u l a t e s
:
Rescuiuff A m e r i c a n s e a m e n from s h i p w r e c k .
A m e r i c a n and S p a n i s b C l a i m s C o m m i s s i o n
C o n t i n g e n t e x p e n s e s of foreign m i s s i o n s
S h i p p i n g a n d d i s c h a r g i n g searaen
P r i s o n s for A m e r i c a n c o n v i c t s . :
E x p e u s e s u n d e r t h e neutralitj'^ a c t
American and F r e n c b Commission
I n t e r n a t i o n a l Bimetallic C o m m i s s i o n
P u b l i c a t i o n of c o m m e r c i a l a n d c o n s u l a r r e p o r t s
Coutingeut and miscellaneous

INTERCOURSE.

•
."

.'

348, 215
491, 895
147, 409
2,467
7, 924
10.5,479
5, 513
20,110
• 2,100
111; 627
19, 664
18, 633
26, 541

70
87
14
59
96
21
50
62
00
10
40
22
88

T o t a l foreign i n t e r c o u r s e .

1,307,5-83 19
MISCELLANEOUS.

Mint establishment
Goast S u r v e y
'
Light-House Establishraent
B u i l d i n g a n d r e p a i r s of l i g h t - h o u s e s
R e f u u d i n g excess of d e p o s i t s for u u a s c e r t a i n e d d u t i e s
Revenue-cutter service
Life-saving s e r v i c e
C u s t o m - h o u s e s , court-houses, post-offices, &c /
P u r n i t u r e , fuel, &c., for p u b l i c b u i l d i n g s u u d e r T r e a s u r y D e p a r t m e n t . .
R e p a i r s a n d p r e s e r v a t i o n of b u i l d i u g s u n d e r T r e a s u r y b e p a r t m e n t . . .
Collecting c u s t o m s i e v e n u e
D e b e n t u r e and d r a w b a c k s nnder customs laws
.....'...
Marine-Hospital Establishment
C o m p e n s a t i o n in lieu of m o i e t i e s
A s s e s s i n g a n d collectin<r i n t e r n a l r e v e n u e
P u n i s h i n g v i o l a t i o n s of i n t e r n a l - r e v e n u e l a w s
I n t e r n a l - r e v e n u e s t a m p s , p a p e r s , a u d dies '.
R e f u n d i n g d u t i e s e r r o n e o u s l y or illegally collected
I n t e r n a l - r e v e n u e a U o w a n c e s an^l d r a w b a c k s
R e d e m p t i o n of i n t e r n a l - r e v e n u e s t a m p s
Expenses national currency
:
Suppressing counterfeiting and fraud
,:
C o n t i n g e n t e x p e n s e s , IndeiDcndent T r e a s u r y
S u r v e y of p u b l i c l a n d s
F i v e p e r cent, fund, &c., t o S t a t e s
Postage
V a u l t s , safes, a n d l o c k s for p u b l i c b u i l d i n g s
I n d e m n i t y for s w a m p l a n d s
P u i l d i n g r e v e u u e c u t t e r s '.
P r o p a g a t i o n , &c., of food-fisbes
Geological s u r v e y of T e r r i t o r i e s
D e p o s i t s by i n d i v i d u a l s for s u r v e y s of p u b l i c l a u d s
N a t i o n a l B o a r d of H e a l t h
E x p e n s e s of E i g h t h , N i n t h , a u d 'IVuth C e n s u s
P a y m e n t of j u d g r a e n t s , C o u r t of Clairas
M a i l t r a n s p o r t a t i o n . Pacific R a i l r o a d s
D e p a r t m e n t of A g r i c u l t u r e
P a t e n t Office
'.
E x p e n s e s of B u r e a u of E n g r a v i n g a n d P r i n t i n g
Smithsonian Institution
C o m p l e t i o n of t h e AVashington M o n u m e n t
P u b l i c b u i l d i n g s a n d g r o u m l s in W a s b i n g t o n
A n n u a l r e p a i r s of t h e Capitol
I m p r o v i n g a n d l i g h t i n g Capitol g i o u u d s
S t a t e , AVar, a u d N a v y " D e p a r t m e n t s b u i l d i n g
Colurabian I n s t i t u t e for D e a f a n d I) u m b
G o v e r n m e n t H o s p i t a l for t h e I n s a n e
".
Freedman's Hospital
Howard University
S u p p o r t a u d t r e a t m e n t of ti-ansient p a u p e r s
R e d e r a p t i o n of D i s t r i c t of C o l n m b i a s e c u r i t i e s
R e f u n d i n g t a x e s , D i s t r i c t of C o l u r a b i a
AVater fund, D i s t r i c t of C o l u m b i a
,
S p e c i a l t a x fund
E x p e n s e s of D i s t r i c t of C o l u m b i a . . .
.
AVashington A q u e d u c t
'.
-u




1, 200, 752 37
538, 86:i 69
1, 776, 420 62
615, 726 50
3, 680, 845 77
846, 423 .34
598, 624 59
2, 399, 100 29
817, 811 13
226, 658 33
6, 549, 595 07
2, 093. 086 72
468, 120 16
30. 628 82
4, 097, 241 34
54, 530 16
540, 608 27
59, 824 58
49, 770 90
25, 565 91
123, 925 01
84, 894 10
96, 044 26
314, 701 61
87, 035 39
171, 358 40
56, 176 76
126, 677 50
61, 005 87
203, 1.63 19
155, 546 15
261 24
1, 385, 900 00
109, 841 65
664, 051 31
596, 786 83
544. 807 41
246, 726 21
i:^6. 807 60
353, 268 04
129, 000 00
160, 705 55
315, 957 20
61, 776 05
94i 988 09
320, 742 07
61, 999 93
164, 774 00
41, 000 00
10, U O 00
O
15, 137 26
1, 054 66
4, 636 08
105, 760 06
13, 216 29
3,144, 618 94
19,

REPORT OF THE SECRETARY OF THE TREASURY.
T A B 1 . E IB.—STATEMENT of the NET DISBUBSEMENTS {hy loarrants) during
the fiscal year ended June 30, 1882—Continued.
Charitable institutions
Depredations on public timber
Furniture, &c.. National Museum
Purchase Freedmens' Bank
Miscellaneous

MISCELLANEOUS-Continued.

$166, 708 64
42,147 04
104, 871 65
250, 000 00
• 452, 510 77

Total miscellaneous

• $37, 869, 781 37
INTERIOR D E P A R T M J : N T .

Indians
Pensions
Total Interior Department

9, 736, 747 40
61, 345,193 95
,
MILITARY ESTABLISHMENT. '

Pay Departraent
Commissary I)epartment
:
Quartermaster's Department
Medical Department
Ordnance Department
Military Academy
Improving rivers' and harbors
Survey of Territories west of the one hundredth meridian
Contingencies
Expenses of vecrniting
Signal Service
Expenses of military convicts
Publishing the official records of the rebellion
Support of National Home for Disabled A-^olunteers
Support of Soldiers' Home
.'
Construction of military posts, roads, &c
Fortifications
-.
National cemeteries
:
Pifty per cent, arrears of Army transportation due certain railroads...
Constructiou of military telegraphs
Bounty to soldiers, act July 28, 1866
Survey of Northern and Northwestern lakes
,
Bounty to volunteers
Mississippi River Commissiou
:
Supplies 5o sufferers by the overflow of the Mississippi River
Clairas for quartermasters' and commissary supplies
Operating and care of Louisville and Portland Canal
Miscellaueous

71, 081, 941 35
12,381,249 31
2,237,374 92
11, 554,898 26
395, 641 '•!3 "
1, 644,110 71
95, 756 36
11, 412, 92 L 39
7, 500 00
29,482 57
94 296 03
385,389 46
68, 876 97
69, 490 00
946, 475 61
76, 071 20
243, 024 92
221, 441 96
211, Gll 65
178,379 18
74, 756 39 .
63, 518 50
17, 651 60
249, 975 46
135, 000 00
365, 278 35
276, 497 54
44. 562 91
89, 461 61

Total military establishment

43, 570, 494 19

NAVAL ESTABLISHMENT.
Pay and contingencies of the Navy
•
Mariue Corps . .•'.
Naval Academy
Navigation ...'....
CTrdnance
Equipraent and Recruiting
'
Yards and Docks
Medicine and Surgery
Construction and Repair . . . :
Provisions and Clothing
".
Steam Engineering
:....
«
Deduct excess of repayments over expenditures

,

1

5

7, 779, 635 45
852, 470 90
213, 272 78
238, 321 4H
297,685 41
961, 332 24.
], 119, 770 98
377,492 721, 450, 361 79
1, 267, 020 80
870,748 50
,

228.113 05
196, 066 79

Total naval establishment
Interest on the public debt

15, 032, 046 26
71, 077, 206 79

Total net ordinary expenditures
Redemption of the public debt
Total expenditures
Cash in Treasury June 30, 1882
Total




:

,

257, 981, 439 57
150, 700, 575 55
408, 682, 015 12
247, 349, 258 62
656,031,273 74

fe

REPORT OF T H E SECRETARY OF T H E

TREASURY.

T A B L E €.—STATEMENT of the ISSUE and B E D E M P T I O N of LOANS and
TBEASUBY NOTES (oy warrants) for the fiscal year ended Jane 30, 1882.
Issues.

Redemptions.

Loan of 1858, act of June 14, 1858
$1, 000 00
Loan of February, 1861, act of February 8, 1861.. •
303, 000 00
675, 250^00
Oregon war debt, act of March 2, J 801
Loan of July and August, 1861, acts
of July 17 and August 5, 1861
117, 787, 900 00
Old demand notes, acts of July 17 and
August 5, 1861, and July 12, 3862...
840 00
Five-twenties of 1862, act of February 25, 1862
2,100 00
Legal-tender notes, acts of February
25 and July 11,1862, Jauuary 7 and
March 3, 1863
'
$79, 520, 424 00 79, 520, 424 00
Fractional currency, acts of July 17,
1862, March 3, 1863, and June 30,
1864
•-..
58, 705 55
Coin certificates, act of March 3,1863.
745, 800 00
One-year notes of 1863,. act of March
3, i863
2, 470 00
Two-year notes of 1863, act of March
3, 1863 ...
2, 550 00
Gompound interest notes, acts of
March 3.1863, and June 30, 1864....
9, 290 00
Loan-of 1863, act of March 3,1863, and
J u n e 30, 1864
'
7,110, 750 00
Ten-forties of 1864, act of March 3,
1864
254,550 00
Five-twenties of June, 1864, act of
June 30, 1864
7, 400 00
Seven-thirties Qf 1864 and 1865, acts
of June 30, 1864, and March 3, 1865.
3, 200 00
Five-tAventies of 1865, act of March
3, 1865
6, 500 00
Consols of 1865, act ofMarch 3,3865..
86, 450 00
Consols of 1867, act of March 3,1865..
408, 250 00
Consols of 1868, act of Marcb 3,1865.,
141, 400 00
Funded loau of 1881, acts of July 14,
1870, January 20,1871, aud January
34, 1875
39, 419, 900 00
Funded loan of 1907, acts of July 14,
1870, January 20,1871, and Jauuary
14,1875
•.-..'225, 300 00
Certificates of deposit, act of June 8,
1872
16, 900, 000 00 15, 505, 000 00
Silver certificates, act of February
28,1878
•
9, 369, 820 00
24, 300, 000 00
Refunding certificates, act of Febru223,750 00
ary 26, 1879
Total.

120,945,724 00

271,646,299 55

Excess of
issues.

Excess of
redemptions.
$1, 000 00
303, 000 00
675, 250 00
117, 787, 900 00
840 00
2,100 00

58,705 55
745, 800 00
2, 470 op
2. 550 00
9,290 00
7,110, 750 00
254, 550 00 •
7,400 00
3, 200 00
6,500
86, 450
408,250
141,400

00
00
00
eo

39, 419, 900 00
• $225, 300 00
1, 3^5, 000 00
14, 930,180 00
223, 750 (
, 16, 550, 480 00

167, 251, 055 55

Excess of redemptions.
Excess of issues

167, 251, 055 55
16, 550, 480 00

Net excess of redemptions charged
in receipts and expenditures

150, 700, 575 55




REPORT OF T H E SECRETARY OF T H E TREASURY.

7

T A B L E I ^ . ~ S T A T E M E N T of the N E T B E C E I P T S and DISBUBSEMENTS {hy
warrants) for the quarter ended Septemher 30, 1S82. P
RECEIPTS.
Customs
Sales of public lands
Internal revenue
Tax on circulation, deposits, &c., of national banks
Repayment of interest by Pacific Railroad Companies
Customs fees, fines, penalties, and forfeitures
Consular, letters patent, homestead, &c., fees
Proceeds of sales of government property
Profits on coinage, &c
.'
Miscellaneous
-

$64,908,875 71
1,185,622 97
37, 760,804 58
4,492, 426 39
65,774 62
422,140 09
822, 842 49 •
KL3,995 95
1, 040,119 39
1, 978, 004 53

.'

Total net ordinary receipts
Balance in the Treasury June 30, 1882.
Total
'.

112,790,606 72
247, 349,258 62
360,139,865 34

•
DISBURSEMENTS.

Customs
Internal revenue
Diplomatic, service
Quarterly salaries
Treasury proper
Judiciary
Interior "(civil) . . . . . . . . . '
Total civil and misceUaneous
Indians
Pensions
Militarv Establishment
Naval Establishment
Interest on public debt
Redemption of the public debt
Balance in Treasury, September 30, 1882
Total




-

:

'

5, 788, 227 38
1,443,129 47
440,161 46
109, 410 75
6, 716,737 10
1,072,147 14
2,070, 805 06
17, 640, 618 36
2,633,778 88
23,397,244 51
> 14,181,028 69
3, 571, 431 83
.* 17, 219, 246 19
. 78, 643, 348 46
40, 096, 789 00
241, 399,728 48
360,139,865 94

8

REPORT OF T H E SECRETARY OF T H E

TREASURY.

T A B L E -E^.—STATEMENT of OUTSTANDING P B I N C I P A L of the P U B L I C
D E B T of the UNITED STATES on the 1st of January of each year from 1791 to 1843,
inclusive, and on the 1st of July of each year from 1843 to 1882, inclusive.
Year.
Jan. 1,1791
1792
1793
:
1794
1795
« 1796
1797
1798...
1799
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
• •
1811
1812
1813
1814
1815
1816
:
1817..
1818
1819
1820 ...<,.
1821
1822
1823
1824
•
1825
1826
1827
1828
1829
1830
1831
1832
1833
1834
1835
1836
1837
1838
1839
1840. i
1841
1842
:
1843
July 1,1843
1844.
1845 .
1846 .
1847.
1848.
1849.
1850.
1851.
1852.
1853.
1854.
1855 .
1856.
1857.
1858 .
1859.
1860.
1861.
1862 .
1863.
1864.
/1865.
1866.
1^67.
1868.




Amount.
$75, 463, 476 52

,...

.

. .
.

.
..

. .

• ...

:
:
^
.
.
1

77, 227, 924 66
80, 352, 634 04
78, 427, 404 77
80,747,587 39
83,762,172 07
82, 064, 479. 33
79 228,529 12
78, 408, ^ 9 77
82, 976, 294 35
83,038,050 80
80, 712, 632 25
77 054 686 30
86,427 120 88
82, 312,150 50
75 793 270 66
69 218 398 64
65,196,317 97
57, 023,192 09
53,173. 217 52
48 005, 587 76
45,209,737 90
55 962 827 57
81, 487, 846 24
99, 833, 660 15
127, 334, 933 74
123, 491, 965 16
103,466,633 83
95, 529, 648 28
91,015,566 15
89 987,427 66
93, 546, 676 98
90,875,877 28
90 269, 777 77
83, 788, 432' 71
81, 054, 059 99'
73, 987, 357 20
67,475,043 87
58 421,413 67
48, 565, 406 50
39,123,191 68
24, 322, 235 18
7 001, 698 83
4, 760, ,082 08
37,733 05
37 513 05
336,957-83
3,308,324 07
10,434,221 14
3 573, 343 82
5,250,875 54
33,594,480 73
20,601,226 28
32. 742. 922 00
23, 461,652 50
35,925, 303 01
15, 550,202 97
38, 826,534 77
47, 044,862 23
63, 061,858 69
63, 452,773 55
68, c04,796 02
66,199, 341 71
59, 803,117 70
42, 242,222 42
35, 586,956 56
31, 972, 537 90
28, 699, 831 85
44,911, 881 03
58, 496,837 88
64, 842,287 88
90, 580,873 72
524,176, 412 13
138 63
1,119, 772,
370 57
1, 815, 784,
869 74
2, 680, 647,
2, 773, 236,173 69
2, 678,126,103 87
851 19
2, 611, 687,

REPORT
TABLE

OF T H E

SECRETARY

OF

THE

TREASURY.

E^.—STATEMENT of, OUTSTANDINO P B I N C I P A L of the P U B L I C
D E B T , c^^c.—Continued.
Year.

July 1,1869
1870
1871
3872
1873
3874
1H75
1876
1877
1878
1879
1880
1881
1882

9

Amount.

$2,588,452,213 94
2, 480, 672 427 81
2, 353, 211 332 32
2, 253, 251, 328 78
*2, 234, 482, 993 20
*2 251 690 468 43
*2, 232, 284 531 95
'2,180,395 067 15
J.. "2,205,301,392 10
*2, 256, 205, 892 53
*2, 349, 567, 482 04
*2,120, 415, 370 63
*2, 069, 013, 569 58
*3, 918, 312,994 03

.

...
'.
.

.
.

"

*In the amount hbre stated as the outstanding jDrincipal of the publicjlebt are included the. certificates of deposit outstanding on the 30th of June, issued under act of dune 8, 1872, for which a like
amount in United States notes was on special deposit in the Treasury for their redemption, and added
to the cash balance iu the Treasury, These certificates, as a matter of accouuts, are treated as a part
of the public debt, but, being offset by notes held on deposit for their redemption, should properly be
deducted from the principal of the public debt iu making comparison with former years.
STATEMENT of the P U B L I C DEBT, including ACCBUED I N T E B E S T thereon, less
cash in the Treasury on the 1st day of July of each year, from 1869 tb 1882, compiled from
the published monthly debt-statements of those dates.

Years.
July 1,1869
1870
1871
1872
1873
1874
3875
1876
1877
1878
3879
1880
1881
1882

Outstandiug principal.

^•$2, 597,722, 983
*2,601, 675,127
'2, 353,211, 332
2,253. 251, 328
2, 234,482, 993
2, 251,690, 468
2, 232,284, 531
2, 180,395, 007
2, 205,301,392
2, 256,205, 892
2, 349,567, 482
2,120, 415, 370
2, 069,013, 569
1,918, 332, 994

A c c r u e d iuterest.
310 79
556 52
766 23
813 27
652 82
087 47
556 19.
004 54
791 89
551 37
351 34
547 59
657 75
986. 47

C a s h in the D e b t less cash in
Treasnry.
the Treasury.

$156,167, 813
265, 924,084
106, 217,263
103,470, 798
129, 020,9H2
147, 541,314
142, 243,361
119, 469.726
186, 025,960
256, 823,612
353,152. 577
201, 088,622
249, 363,415
243, 289,519

58 $2,489. 002, 480 58
61
2, 386, 358, 599 74
65
2, 292, 030. 834 90
43
2,191,486, 343 62
45 2, 147,818, 733 57
74
2,143, 088, 241 16
82
2,128, 688, 726 32
70
2, 099, 439, 344 99
73
2, 060,158, 223 26
08
2, 035,786, 831 82
01
2, 027. 207, 256 37
88
1,942,172, 295 34
35
i, 840, 598, 811 98
78
1, 688, 914, 460 72

* I t will be noticed that there is a difference in the amounts represented by these two statements as
tbe priucipal of tbe debt July 1, 1869, and July 1, 1870. Tbis differeuce is explained thus: l u the principal ofthe debt as shown by the monthly debt-statements of these dates, the^bonds p.urchased for the
sinking-fund aud paid for from money in ibhe Treasury, were iucluded as a part ofthe outstanding debt
aud were also treated iu the cash as a cash-item, or asset, for the reason that at that time there was no
authority or law for deductiug thera from the outstandiug debt. Congress, by the sixth section of the
act of July 14, 1870, directed that these bonds should be canceled and destroyed and deducted from the
amouut of each class ofthe outstanding debt to which they respectively belonged,, aud such deductions
were accordingly made on the books of the department and iu the table of the debt in the annual report.




T A B L E T.—ANALYSIS of the P B I N C I P A L of the P U B L I C D E B T of the VNITED STATES, from July 1, 1856, to July 1, 1882.
Year.
1856
1857
1858
1859
1860
1861
1862
3863
1864
1865-'
1865—Aug. 3 1 .
1866
1867
1868
1869
1870
1871
1872
1873'
1874
1875
1876
1877
1878
1879
1880
1881
1882




3 per cents.

66,
59,
45,
24,
14,
14,
14,
14,
14,
14,
14,
14,
14,
14,

000,
125,
550,
885,
665,
000,
000,
000,
000,
000,
000,
000,
000,
000,
000,

000
000
000
000
000
000
000
000
000
000
000
000
000
000
000

3J p e r c e n t s .

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

$460, 461, 050 00

4 per cents.

4J p e r c e n t s .

5 per cents.

• $3,632,000 00
3,489, 000 00
23, 538,000 00
37,327, 800 00
43, 476,300 00
33, 022,200 00
30, 483,000 00
. $57, 926,116 57
30,483, 000 00
105,629,385 30
300, 213,480 00
77, 547, 696 07
245,709, 420 63
90, 496, 930 74
269,175, 727 65
618,127 98
201, 982,665 01
121, 341, 879 62
198, 533,435 01
17, 737, 025 68
221, 586,185 01
801, 361 23
221, 588,300 00
221, 588,300-00
274, 236,450 00
678, 000 00
414, 567,300 00
678, 000 00
414, 567,300 00
678, 000 00
510,628, 050 00
678, 000 00
607,132, 750 00
678, 000 00
711, 685,800 00
703, 266,650 00
$140, 000, 000 00
703, 266,650 00
240, 000, 000 00
98, 850, 000 00
508, 440,350 00
250, 000, 000 00
741, 522, 000 00
484, 864,900 00
250, 000, 000 00
739, 347, 800 00
439, 841,350 00
250, 000, 000 00
739, 347, 800 00
250, 000, 000 00
739, 349, 350 00

6 per cents.
$28, 130, 761 77
24, 971, 958 93
21, 162, 838 11
21, 162, 938 11
21, 164, 538 11
57, 358, 673 95
154, 313, 225 01
431, 444, 813 83
842, 882, 652 09
495,169 90
1, 213,
281, 736, 439 33
1,195, 546, 041 02
1, 543,452, 080 02
1, 878,303, 984 50
1, 874,347, 222 39
1, 765,317, 422 39
1,613, 897, 300 00
1,374 883, 800 00
1,281, 238, 650 00
1, 213,624, 700 00
1,100, 865, 550 00
984, 999,650 00
854, 621. 850 00
738, 619, 000 00
283, 681, 350 00
235, 780,400 00
196, 378, 600 00

7 3-10 p e r c e n t s .

$122,
139,
139,
671,
830,
813,
488,
37,

582,485 34
974,435 34
286,935 34
610,397 02
000,000 00
460,621. 95
344,846 95
397,196 95

Total interestbearing debt.
$31, 762,761 77
28, 460,958 93
44, 700,838 11
58, 290,738 11
64, 640,838 11
90. 380,873 95
365, 304,S26 92
707, 531,634 47
763
1, 359, 930, 50
918 29
2, 221, 311,
294 96
2, 381, 530,
207 60
2, 332, 331,
387 66
2, 248, 067,
727 69
2, 202, 088,
522 39
2,162, 060,
722 39
2, 046, 455,
750 00
1, 934, 696,
100 00
1, 814, 794,
950 00
1, 710, 483,
750 00
1, 738, 930,
300 00
1, 722, 676,
450 00
1, 710, 685,
500 00
1, 711, 888,
1,794,735, 650 00
700 00
1, 797, 643,
100 00
1, 723, 993,
750 00
1, 639, 567,
400 00
1, 463, 810,

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T A B L E T.—ANALYSIS of the P B I N C I P A L of the P U B L I C D E B T of the UNITED STATES, cl-'c—Continuecl.
Year.

1856—July 1 . . . 1857
1858.
1859
1860
1861
1862
1863
1864
1865
1865—August 31
1866—Julyl . . . .
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
:....
1878
'1879
1880
1881..
1882

D e b t on w h i c h in D e b t bearing
interest.
terest has ceased.
776 13
238, 872 92
211, 042 92
206, 099 77
201, 449 77
199, 999 77
280, 195 21
473, 048 16
416, 335 86
1, 245,771 20
1, 503,020 09
935, 092 05
1, 840,635 01
1,197, 340 89
5, 260,181 00
3, 708,641 00
1,948, 902 26
7, 926,797 26
51, 929,710 26
3, 216,590 26
11, 425, 820 26
3, 902,420 26
16, 648, 860 26
5, 594,560 26
37, 015, 630 26
7, 621,455 26
6, 723,865 26
16, 260,805 26

$158, 591.390 00
411, 767. 456 00
455. 437, 271 21
458, 090,180 25
461, 616, 311 51
439, 969,874 04
428, 218,101 20
408,401, 782 61
421,131, 510 55
430,508, 064 42
416, 565,680 06
430, 530,431 52
472, 069, 332 94
509. 543, 328 17
498,382, 411 69
465, 807,196 89
476. 764, 031 84
455, 875,682 27
410, 835,741 78
388, 800,815 37
422, 721,954 32
438, 244,788 77

Outstanding prin- |Casb in the Treas T o t a l d e b t , l e s s cash] A n n u a l i u t e r e s t
in Treasury.
cipal.
charge.
ury July 1.
$31, 972, 537 90
28, 699,831 85
44, 911,881 03
58, 496, 837 88
64, 842, 287 88
90, 580, 873 72
524, 176,432 13
1,119, 772,138 63
1,815, 784, 370 57
2, 680,647, 869 74
2, 844,649, 626 56
2, 773, 236, 173 69
2, 678,126,103 87
2, 611,687,851 19 l i
2, 588,452, 213 94 ^
2, 480,672,427 81
2, 353,211, 332 32
2, 253,251, 328 78
2, 234,482, 993 20
2, 251,690.468 43
2, 232,284,531 95
2,180, 395, 067 15
2, 205,301, 392 IT)
2, 256,205, 892 53
2. 245,495, 072 04
2,120, 415, 370 63
2, 069,013, 569 58
1, 918,312, 994 03

$21, 006, 584
18, 701, 210
7, Oil, 689
5, 091,603
4, 877, 885
2 862,212
18, 863, 659
8, 421,401
106, 332, 093
5, 832, 012
88. 218,055
137, 200, 009
169, 974, 892
130, 834, 437
155, 680, 340
149, 502, 471
106, 217, 263
103, 470, 798
129, 020, 932
147, 541,314
142, 243, 361
119, 469, 726
186, 025, 960
256, 823,632
249, 080,167
201, 088, 622
249, 363,435
243, 289,539

89
09
31
69
87
92
96
22
53
98
13
85
18
96
85
60
65
43
45
74
82
70
73
08
01
88
35
78

965, 953 01
998, 621 76
37, 900, 191 72'
53, 405, 234 19
59, 964, 402 01
87, 718, 660 80
505, 312, 752 17
1,133, 350, 737 41
1,709, 452, 277 04
2, 674,815, 856 76
2, 756,431, 571 43
2, 636,036,163 84
2, 508,151, 211 69
2, 480, 853,413 23
2, 432,771,873 09
2, 331,169, 956 21
.2,246, 994, 068 67
2,149, 780, 530 35
2,105, 462, 060 75
2,104, 149.153 69
2, 090,041,170 13
2,060, 925, 340 45
2, 019,275, 431 37
1, 999,382, 280 45
1, 996,414, 905 03
1, 919,326, 747 75
1. 819,650.154 23
1, 675,023, 474 25

$1, 869,445 70
1, 672,767 53
2, 446,670 28
3.126, 166 28
3, 443,687 29
5. 092,630 43
22, 048, 509 59
41,854, 148 01
78, 853,487 24
137, 742,617 43
150, 977,697 87
146, 008,196 29
138,892, 451 39
128,459, 598 14
125, 523,998 34
118, 784,960. 34
111, 949, 330 50
103, 988,463 00
98, 049, 804 00.
98, 796, 004 50
96, 855,690 50
95,104, 269 00
93,160, 643 50
a4, 654,472 50
83, 773,778 50
79, 633, 981 00
75, 018,695 50
57, 360, 110 75

N O T P : 1.—The a n n u a l i n t e r e s t c h a r g e is c o m p u t e d u p o n t b e a m o u n t of o u t s t a n d i n g p r i n c i p a l a t t h e close of t h e fiscal y e a r , a n d is e x c l u s i v e of i n t e r e s t c h a r g e (m P a c i f i c
Railway bonds.
.
.
N O T E 2.—The figures for J u l y 1, 1879, w e r e m a d e u p , a s s u m i n g p e n d i n g f u n d i n g o p e r a t i o u s t o h a v e b e e n c o m p l e t e d .
N O T E 3.—The t e m p o r a r y loan, p e r a c t of J u l y 11,1862, is iuclucled in t h e 4 p e r cents, from 1862 t o 1868, i n c l u s i v e , w i t h t h e e x c e p t i o n of t h e a m o u u t o u t s t a n d i n g for A u g u s t
31,1865, t h i s b e i u g t h e d a t e a t w h i c h t h e p u b l i c d e b t r e a c h e d i t s h i g h e s t p o i u t . T h i s loan b o r e i n t e r e s t from 4 p e r c e n t , t o 6 p e r cent., a n d w a s r e d e e m a b l e on t e n d a y s ' n o t i c e
a f t e r t h i r t y d a y s ; b u t b e i n g c o n s t a n t l y c h a n g i n g , i t h a s b e e n c o n s i d e r e d m o r e e q u i t a b l e to i n c l u d e t h e w h o l e a m o u n t o u t s t a n d i n g as b e a i i n g 4 p e r c e n t , i n t e i e s t on a n a v e r a g e
for t h e y e a r :
"
N O T E 4.—In t h e r e c e n t m o n t h l y s t a t e m e n t s of t h e p u b l i c d e b t , t h e i n t e r e s t a c c r u e d h a s b e e n a d d e d t o t h e p r i n c i p a l , m a k i n g t h e n e t d e b t l a r g e r i n t h a t a m o u n t t h a n th©
a m o u n t h e r e i n s t a t e d for e a c h y e a r .




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12

REPORT OF THE SECRETARY OF THE TREASURY.

T A B £ , E i^.—STATEMENT of BECEIPTS of UNITED STATES from March 4,1789

%

>
J

1791
1792
1793
1794
1795
1796
a797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
1811
1812

Balance in the
Treasury at

$973,'905 75
783,441 51
753,661'69
1,151,924 3 7
.
516,442 61
888,995-42
1. 021, 899 04
617, 451 43
2,161, 867 77
2, 623,311 99.
~ 3, 295, 391 00
5, 020, 697 64
4,825,811-60
4, 037, 005. 26
3, 999, 388 99
4, 538,123 80
9, 643, 850 07
9, 941, 809 96
3, 848,056 78
2, 672, 276 57
3, 502, 305 80
3, 862, 217 41
5,196, 542 00
1815
1, 727, 848 63
33,106,592 88
1816
1817
22,033,519 19
1818
14, 989, 465 48
1819
3,478,526 74
2, 079, 992 38°
1820
1821
1,198, 461 21
1822
1, 681, 592 24
4, 237, 427 55
1823
1824
9, 463, 922 81
1, 946, 597 13 •
1825
1826
5, 201, 650 43
1827
6, 35», 686 18
1828
6, 668, 286 10
1829
5,972,435 81
1830
5, 755, 704 79
1831
6, 034, 539 75
1832
4,502,914 45
2, Oil, 777 55
1833
1834
3.1, 702, 905 31
8, 892, 858 42
1865
1836
26, 749, 803 96
1837
46, 708, 436 00
1838
37, 327, 252 69
1839
36, 891,196 94
1840
38,157, 503 68
1841
29i963'. 163 46
28,685,131 08
1842
1843* 30, 523, 979 44
1844
3yi 186,' 284 74
36, 742, 829 62
1845
36, 194,274 81
1846
38 261 959 65
1847
tJKJ, LJyJX, *JKJ*J XJtJ
1848
33, 079, 276 43
1849
29, 416, 612 45
1850
32, 827, 082 69
1851
35 871 753 31
40,158, 353 25
1852
1853
43, 338, 860 02
1854
50, 261, 901 09
1855
48, 591, 073 41
47, 777, 672 13
1856
49,108, 229 80
1857
46, 802, 855 00
1858
35,113,334 22
1859
33, 193,248 60
1860
32, 979, 530 78
1861
1862
.30. 963, 857 83
46, 965, 304 87
3863
1864
36, 523, 046 13
1865 134, 433, 738 44

11

Customs.

commence-

Intemal revenue.

Direct tax.

Public lands.

Miscellaneous.

m e n t of year.

$4, 399. 473 09
$10, 478 10
9,918 65
3, 443, 070 85
$208," 942'si"
337, 705 70
21,410 88
4, 255, 306 56
274, 089 62
53, 277 97
4,801,065 28
337, 755 36
28,317 97
5, 588, 461 26
475, 289 60
1,369,415 98
6, 567, 987 94
$4," 836'13
575, 491 45
399,139 29
7, 549, 649 65
83, 540 60
7, 106,061 93
644, 357 95
58,192 81
11, 963 11
6,610,449 31
779,136 44
86,387 56
809, 396 .55 "'$734,'223" 97
152, 712 10
9. 080, 932 73
443 75
1, 048, 033 43
534, 343 38
345, 649 15
10^ 750, 778 93
167,726 06
12,438,235 74
621, 898 89
206, 565 44
188, 628 02
1, 500, 505 86
10,479,417 61
• 215,379 69
71, 879 20
131,945 44
365,675 69
11, 098, 565 33
50, 941 29
50,198 44
139, 075 53
487, 526 79
12, 936, 487 04
21, 747 15
21, 882 91
540,193 80
40, 382 30
14, 667, 698 17
20,101 45
55,763 86
765, 245 73
.51,121 86
15, 845, 521 61
13, 051 40
34, 732 56
38, 550 42
466, 163 27
8,190 23
j|^,159 21
21, 822 85
16, 363, 550 58
647, 939 06
7, 257, 506 62
4, 034 29
62,162 57
m , bil 31
442, 252 33
. 7, 430 63
12, 448 68
84, 476 84
8, 583, 309 31
-696, 548 82
13, 313, 222 73
2, 295 95
1, 040, 237 53
59, 211 22
7, 666 66
8, 958, 777 53
• 4, 903 06
'
859 22
710,427 78
126,365 17
13, 224, 623 25
4, 755 04
3, 805. 52
835, 655 14
271,571 00
5, 998, 772 08
1, 662, 984 82 2, 219, 497 36
1,335,971 09
164, 399 81
285, 282 84
4, 678, 059 07 2,162, 673 41
7, 282, 942 22
1, 287, 959 28
5,124, 708 31 4, 253, 635 09
273, 782 35
36, 306, 874 88
1, 717, 985 03
2, 678,100 77 1,824,187 04
109,761 08
26, 283, 348 49
1, 991, 226 06
955, 270 20
264,333 36
57, 617 71
17,176, 385 00
2, 606, 564 77
20, 283, 608 76
229, 593 63
83, 650 78
3, 274, 422 78
57, 098 42
106, 260 53
31, 586 82
61,338 44
15, 005, 612 15
1, 635, 871 61
12, 004, 447 15
. 69, 027 63
29, 349 05
3,232,966 46
152,589 43
17,589,761 94
67, 665 71
20, 961 56
452, 957 19
1, 803, 581 54
34, 242 17
10, 337 71
141,129 84
19,088,433 44
93.6, .523 30
,17,878,325 71
34, 663 37
6, 201 96
984. 418 15
127, 603 00
25, 771 35
2, 330 85
1,216,090 56
130, 4.51 81
20, 098, 713 45
23,341,331 77
21,589 93
6. 638 76
1, 393, 785 09
94.588 66
2, 626 90
19, 885 68
19, 712, 283 29
1, 495, 845 26 1, 315, 722 83
23, 205, 523 64
17,451 54
2, 218 81
1, 018, 308 75
65,126 49
22,681,965 91
14, 502 74
11, 335 05
1,517,175 13
112, 648 55
12,160 62
16, 980 59
73, 227 77
21, 922, 391 39
2, 329, 356 14
24, 224, 441 77
6,933 51
10, 506 01
3, 210, 815 48
584,124 05
28, 465, 237 24
11,630 65
6,791 33
2, 623. 381 03
270, 410 61
2, 759 60
394 32
3, 967, 682 55
470, 096 67
29, 032, 508 91
16, 214, 957 15
^4,196 09
19 80
4, 857, 600 69
480,812 32
4, 263 33 14, 757, 600 75
759,972 3 3
19, 391, 310 59
10, 459 48
23. 409, 940 53
370 00
728 79
24, 877, 179 86
2, 245, 902 23
5, 493 84
1,687 70
7, 001, 444 59
6, 776, 236 52
11,169, 290 39
2, 467 27
6,410,348 45
16,158, 800 36
3, 730, 945 66
23,137, 924 81
2, 553 32 •
755*22'
7,361,576 40
979, 939 80
2,567,11.2 28
33,499,502 17
1 682 25
3,411,818 63
3,004,054 75
14, 487, 216 74
3i 261 36
3,365,627 42
451 995 97
1 335 797 5 ''
18,187,908 76
495 00
Ay tJUKf, 1 *J % V w
7,046,843 91
303 25
285,' 895 92
898,358 IS
26,383,570 94
1,075,419 70
1, 777 34
2, 059, 939 80
27,528,132 70
361, 453 68
3, 517 12
2, 077, 022 30
26,712,667 87
2, 897 26
289,950 13
2,691,452 48
•23,747,864 66
220, 808 30
375 00
2, 498, 355 20
31, 757, 070 96
6\2, 610 69
375 00
3, 328, 642 56
28, 346, 738 82
685, 379 13
1, 688, 959 55
39, 668, 686 42
2, 064, 308 21
1, 859, 894 25
49, 017, 567 92
1,185,166 11
^ KJXJ^^ *305 30
MJ 352 J \ J \ J KJ\J
47, 339, 326 62
464, 249 40
2, 043, 239 58
58,931,865 52
988, 081 17
1, 667, 084 99
64, 224,190 27
1,105,352 74
8, 470, 798 39
53, 025, 794 21
827, 731 40 •
' 11, 497, 049 07
1,116,190 81
64,'022! 863 50
8i 917, 644 93
3,2.59,920 88
63, 875, 905 05
3; 829, 486 64
1, 352, 029 13
41, 789, 620 96
3 513 715 87
1. 454, 596 24
49,565,824 38
1 ' 756i 687 30
,
1, 088, 530 25
53,187, 511 87
3,778,557 71
1,023,515 31
39,582,125 64
870, 658 54
915,327 97
i,795, 33i'73
152, 203 77
49, 056, 397 62
3,741,794 38
69, 059, 642 40 "'37,'640,'787 95 3,485,103 61
167,617 17
102,316,352 99 109,741,334 30
475, 648 96
588, 333 29
30, 291, 701 86
996, 553 31 25,443,556 00
84, 928, 260 60 209, 464, 215 25 3,200,573 03




'' Por the half-year from Jau

REPORT OF THE SECRETARY OF THE TREASURY.

13

to June 30,1882, hy calendar years to 1843 andby fiscal years {ended June 30) from that time.

Dividends.

$8, 028 00
38;500 00
303, 472 00
160,000 00
160, 000 00
80, 960 00
79, 920 00
71, 040 00
71, 040 00
88, 800 00
39, 960 00

202, 426 30
525, 000 00
675, 000 00
. 000, 000 00
,
105, 000 00
297, 500 .00
350, 000 00
350, 000 00
367, 500 00
402, 500 00
420, 000 00
455, 000 00
490, 000 00
490, 000 00
490. 000 00
490, 000 00
474, 985 00
234, 349^50
,506, 480 82
292, 674 67

Net ordinary
Interest.
receipts.

409, 951
669, 960
652, 923
431, 904
114, 534
377, 529
688, 780
900, 495
546, 813
848, 749
935, 330
995, 793
064, 097
826, 307
560. 693
559, 931
398, 019
060, 661
773, 473
384, 214
422, 634
801, 132
340, 409
181, 625
696, 916
676, 985
099, 049
585, 171
603, 374
840, 669
573, 379
232, 427
540, 666
381, 212
840, 858
260, 434
966, 363
763, 629
827. 627
844, 116
526, 820
867, 450
948, 426
791, 935
430, 087
826, 796
954, 153
302, 561
482, 749
480, 115
860, 160
976, 197
231, 001
320, 707
970v 105
699, 967
467, 403
698, 699
721, 077
592, S88
555, 039
846, 815
587, 031
800, 341
350, 574
056, 699
965, 312
655, 305
777, 107
054, 599
476. 299
919, 261
094, 945
412, 971
031, 158

.Premiums.

• $361,
391
5,102, 498
1, 797, 272
4, 007, 950
3, 396, 424
320, 000
70, 000
200, 000
5. 000, 000
1, 565, 229

$4, 800 00
42, 800 00
78, 675 00

'i6,'i25"6o

300
85
11, 541
68,665
267, 819
412

52,
56,
41,
51,
112,
243,
322,
uary 1 to June 30,1843.




Receipts from
loans and
Treasury
notes.

00 .
79'.
74
36
141.
62 .

$32,107 64
686 09

40, 000 00

71,700 83
666 60
28. 365 91
37, 080 00
487, 065 48
10, 550 00
4,264 92
22 50

709, 357 72
10, 008 00
33, 630 90
68, 400 00
• 602, 345 44
21,174,101 01
11, 683, 446 89 1,

Gross receipts.

Unavailable.

34
45
01
78
00
00
00
00
00
24

771, 342
772, 458
450, 195
439, 855
515, 758
740, 329
758,780
179,170
12, 546, 813
12, 413, 978
12, 945, 455
14, 995, 793
11, 064, 097
11, 826, 307
13, 560, 693
15, 559, 931
16, 398, 015
17, 060, 661
7, 773, 473
12, 134,214
2, 750, 000 00
14, 422, 634
22, 639, 032
32,837, 900 00
40, 524, 844
26,184, 135 00
34, 559, 536
23, 377, 826 00
50, 961,237
35, 220, 671 40
57, 171,421
9, 425,084 91
33, 833, 592
723
. 466, 45
21, 593, 936
8, 353 00
24, 605, 665
2, 291 00
20, 881,493
3, 000, 824 13
19, 573, 703
5,000, 324 00
20, 232, 427
20, 540, 666
24, 381,212
5, 000, 000 00
26, 840, 858
5, 000, 000 00
25, 260, 434
22, 960, 363
24, 763, 629
24.
827, 627
. 24,
28, 844,116
31, 526, 820
33, 867, 450
21, 948, 426
35, 971, 935
50, 430, 087
27, 826, 796
992,989 15
39, 947,142
716, 820 86
35, 019, 382
857, 276 21
25, 340, 025
589, 547 51
30, 069, 662
659,317.38
34, 519, 477
808, 735 64
20, 784, 932
479, 708 36
31, 782, 410
877,181 35 29, 198, 555
29, 970,105
55, 699, 967
872, 399 45
56, 368,168
256,700 00 59, 992, 479
558, 750 00
47, 796, 892
O'l5, 950 00
52, 649, 388
203, 400 00
49, 762, 704
46, 300 00
61, 893,115
16, 350 00
73, 603, 404
65, 802, 343
2,001 67
74, 351, 374
800 00
08, 056, 899
200 00
70, 969, 212
• 3, 900 00
81, 372, 665
23, 717, 300 00
76, 773, 965
28; 287, 500 00
83, 841,407
20, 776, 800 00
371, 640
41, 861, 709 74 581, 680,121
529, 692, 460 50 889, 379, 652
776, 682, 361 57 , 393, 461, 017
128, 873, 945 36 ,805, 939, 345
472; 224, 740 85

$1, 889 50

63, 288 35
1, 458, 782 93
•37, 469 25
11,188 00
28, 251 90

"36,* 660 66

15, 408 34
11,110 81
6, 000 01
9, 210 40
6, 095 11

14

REPORT OF T H E SECRETARY OF THE

TREASURY.

T A S E E € ^ . ~ S T A T E M E N T of tlie B E C E I P T S of the UNITED

a

Balance in t h e
Treasury at
commencem e n t of y e a r .

1866 $33, 933, 657 89
1867 160, 817, 099 73
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882

198, 076, 537
158, 936, 082
183, 781, 985
177,604,116
138, 019,122
134, 666, 001
159, 293, 673
178, 833, 339
172, 804, 061
149, 909, 377
214, 887, 645
286, 591, 453
386, 832, 588
231, 940, 064
280, 607, 668

Direct tax.

Public lands. Miscellaneous.

$179, 046, 651 58 • $309, 226, 813 42 $1, 974, 754 12
266, 027, 537 43 4, 200, 233 70
176,417,810 88

$665, 031 03 $29, 036, 314 23
1,163, 575 76 15, 037, 522 15

Customs.

09
164, 464, 599 56
180, 048, 426 63
87
194, 538, 374 44
76
51 • 206, 270, 408 05
216, 370, 286 77
15
85 . 188, 089, 522 70
163,103, 833 69
41
157,167, 722 35
54
148, 071, 984 61
32
130, 956, 493 07
21
130,170,680 20
88
137, 250, 047 70
88
186, 522, 064 60
65
198,159, 676 02
44
220,410, 730 25
37
4, 857, 533, 832 67




Internal revenue.

191, 087, 589
158, 356, 460
184, 899, 756
143, 098,153
130, 642,177
113, 729, 314
102, 409, 784
110, 007, 493
116, 700, 732
118, 630, 407
110, 581, 624
113, 561, 610
124, 009, 373
135, 264, 385
146, 497, 595

41
86
49
63
72
14
90
58
03
83
74
58
92
51
45

1, 788,145
765, 685
229.102
580, 355

85
63
88
37

315,254 51
93, 798 80

30 85
1, 516 89
160,141 69

1, 348, 715
4, 020, 344
3, 350, 481
2, 388, 646
2, 575, 714
2, 882, 312
1, 852, 428
1. 413, 640
1,129, 466
970, 253
1, 079, 743
924,781
1, 016, 506
2,201,863
4, 753,140

41
34
76
68
19
38
93
17
95
68
37
06
60
17
37

17, 745, 403
13, 997, 338
12, 942, 118
22, 093, 541
15,106,051
17,161, 270
32, 575, 043
15, 431, 915
24, 070, 602
30, 437, 487
15, 614, 728
20, 585, 697
21, 978, .525
25,154, 850
81, 703, 642

59
65
30
21
23
05
32
31
31
42
09
49
01
98
52

2, 953, 854, 961 73 27,810,415 16 212, 519, 322 95 470. 286. 853 .52

* Amounts heretofore credited to the Treasurer as

REPORT OF T H E SECRETARY OF T H E TREASURY.

15

STATES J r o m March 4, 1879, to Jtme 30, 1882, cj'c.—Contimied.

^

§
N

Dividends,

ISTet o r d i n a r y
receipts.

1866
1867

$519, 949, 564 38
462,846,679 92

1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1889

876, 434,453
357,188, 256
395, 959, 833
374, 431,104
364, 394, 229
322,177, 673
299, 941, 090
284, 020, 771
290, 066, 584
281, 000, 642
257, 446, 776
272, 322,136
333, 526, 500
.360,782,292
403, 525, 250

Interest.

Premiuins.

E e c e i p t s from
l o a n s and
Treasury
notes.

G-ross r e c e i p t s .

P n available.

$38, 083, 055 68 $712, 851, 5,53 05 $1, 278, 884,173 11 $172. 094 29
"27, 787, 330 35 640,'426, 910 29 1,131, 060, 920 56' 721. 827 93
2,675,918 19

82
09
87
94
93
78
84
41
70
00
40
83
98
57
28

29, 203, 629
13,755,491
15, 295, 043
8, 892, 839
9, 412, 637
11, 560, 530
5, 037, 665
3, 979, 279
4, 025, 280
405, 776
317,102
1,505,047
110

50
12
76
95
65
89
22
69
58
58
30
63
00

625,111,433
238, 678, 081
285, 474, 496
268, 768, 523
305, 047, 054
214, 931, 017
439, 272, 535
387, 971, 556
397, 455, 808
348, 871, 749
404, 581, 201
792,807.643
213,814,103
113, 750, 534
120, 94.5, 724

20 1, 030, 749, 516 52
609, 621, 828 27
06
696, 729; 973 63
00
652, 092, 468 36
47
679,153, 921 56
00
548, 669, 221 67
00
744, 251. 291 52
46
675, 971, 607 10
00
691,551,673 28
00
630,278,167 58
00
662, 345, 079 70
00
00 1, 066, 634, 827 4G
545,340,713 98
00
474, 532, 826 .57
00
524, 470, 974 28
00

*2, 070 73
*3, 396
*18, 228
*3, 047
12,691

38
35
80
40

0"
$9,720,136 298,531,725,522 32'485, 224 45|204, 259, 220 83 10,831,989,965 84 19, 568, 459, 933 44 2, 661, 866 53

unavailable, and since recovered and charged to Ms accouut.




16

REPORT OF THE SECRETARY OF THE TREASURY.

T A B E E m.~STATEMENTof EXPENDITUBES of UNITED STATESfromMar. 4

Year.

1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
3807
1808
1809
181^
1811
1832
1813
1814
1815
1816
1817
1818
. 1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832
1833
18.34
1835
1S36
1837
1838
1839
1840
1841
1842
1843'
1844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860.
1861
1862
1863
1864

Navy.

War.

4,
4,
4,
4,
5,
6,
5,
5,
11
13,
12,
8,
• 7,
8,
6,
2,
5,
5,
10,
35,
27,
14,
9,
12,
8,
9,
11
14,
16,
19,
25,
23,
16,
23,
389,
603,
690,




804 03
702 09
249 08
097 59
910 13
263 84
402 46
522 30
946 98
878 77
944 08
148 25
055 85
423 93
781 28
355 38|
685 91
831 401
772 17|
323 94
828 191
798 24
013 02
806 86
294 22
096 80
236 .53
715 10
300 371
392 31
291 781
981 48
924 43
939 85
914 18
194 37
977 88
544 56
291 07
128 88
835 55
084 88
019 10
189 38
156 89
345 25
730 80
224 16
995 80
267 23I
610 24
438 021
671 95
183 66
291 28
370 58
030 33
334 21
478 26
024 58
965 11
506 19
498 49
282 87
074 07
160 51
150 87
121 63
720 53
202 72
530 67
562 29i
411
048 66l

408 97
562 03
784 04|
631 89
347 76
081 84
716 03
424 00|
561 87
230 531
832 75
500 00
641 44
064 47
067 80
75,8 80
244 20
566 39
365 15
600 10
290 60
000 25
278 30|
598 49
695 00
640 42
990 GO
243 06
458 981
765 83
581 56|
083 86
902 45
877 45
786 44|
745 47
428 63
183 07
370 291
356 75
260 42
939 06|
718 23
914 53|
580 53
294 25|
896 891
076 97
242 95
711 53|
199 11
177 891
013 92
635 76
476 02
705 92
724 66
581 38
842 10
789 53
096 32
095 11
834 64|
694 63
264 64|
927 90
649 83
156 52
353 09|
235 31
963 741

Indians.

$27. 000 00
13, 648 85|
27, 282 831
13, 042 46
23, 475 68
113, 563 98
62, 396 58
16,470 09
20, 302 19
31 22|
9, 000 00,
94,000 00
60, 000 00
136,500 00
196,500 00|
2.34, 200 00
205, 425 00
213, 5-75 00
337,503 84
177i 625 00
15r, 875 00
277, 845 00
167,358 28
167, 394 86
530,750 00
274,512,161
819, 463 71
505, 704 27
463,181 39|
335,750 01
477, 005 44
575,007 41
380, 781 82
429, 987 90
724,106 44
743, 447 83
750, 624 881
705, 084 24
576, 344 74
622, 262 47
930, 738 041
1, 352, 419 75
1, 802, 980 93
1,003,953 20
1, 706, 444 48
5, 037, 022 88
4, 348, 036 191
5, 504,191 84
2, 528, 917 28|
2, 331, 794 86|
2, 514, 837 121
1,199, 099 68
.578, 371 00
1, 256, 532 39
1, 539, 351 35
1, 027, 693 64
1, 430, 411 30
1, 252, 296 81
1,374,161 55
1, 663, 591 47
2, 829, 801 77
3, 043, 576 04
3, 880, 494 12
1, .550, 339 55
2, 772, 990 78
2, 644, 263 97
4, 354, 418 87
4, 978, 266 18
3, 490, 534 53
2,991,121 54
2, 865, 481 17
2, 327, 948 37
8,152, 032 70
2, 629, 975 971

Pensions.

Miscellaneous.

$175, 813 88 $1, 088, 971 6 L
,
109,
,243 35
4,672,664 38^
I
,
511, 451 01
80, 087 81
.
750, 350 74
81,, 899 24|
\
1, 378, 920 66
68 673 22
'
801,847 58,
loo;, 848 71
I
,
1, 259, 422 621
92, 256 97
,845 33
139,524 94
104,
'
039, 391 68
95,, 444 03
,130 78
337, 613 22
64,
;
, 114, 768 45
73. 533 37
,
1,462,929 40
85, 440 89j
!
,
62, 902 10[ 1, 842, 635 76
I
,009 43
80,, 092 sol
8, 768, 598 75
8i:, 854 59
, 875 53
2, 890,137 01
81, 500 00
I
,
697, 897 51
70,
;
423 285 61
82,, 576 04
, 833 54
215: 803 79
87,
,744 16
101 144 98
83,
i
,
367, 291 40
75, 043 88
,402 10
683: 088 21
91,
1 989 91
,
i, 129, 435 6ll
, 164 36
208, 029 70
),
870 47
69, 656 06
\
741 17|
188, 804 15
,
936 76
297, 374 43
'
,
839 51
890, 719 90
I 939 85
,
211 41
2, 415,
1
,
021 94
3, 208, 376 81
,
121 54
242, 817 25
: 199 40
,
996 24
1,
I 588 52
,
093 99|
1, 780, 826 59
I
,
808 81
1, 499, 810 57
!
,
544 89
I • ~ , 598 83
1
177 79
1, 556,
1,138 86
476 58
976, 573 57
),
052 64
850,, 594 47
'
234 65
949, 297 31
:
,
416 04
1, 363, 665 14
I
,
646 10
1,170,
,422 40
141 45
1,184,
1,152 40
245 93,
4,589,
,285 30
728 95|
8, 364,
,711 32
698 53
1, 954, 797 96
!
,
279 72
2, 882, 162 45
!
,
370 27
2, 672, 057 29
1
,
664
160^ 990 76
2,156, 750 51
I
,
89
725,
3,142, 562 171
!
,
995,
1 484 51
,
490
2, 888, 931 331
I
,
775
1, 378, 041 12
I
,
202
839, 008 99|
!
,
645;
2, 082, 788 11
I
,
911
2, 400, 097 561
,
711
1,831- 883 63
,
885
1, 744, 496 481
,
650
1, 227, 867 64
!
,
885;
1, 328, 886 021
1
,
048
1
i 377 22
,
888
,
2, 293, 858 78
504
;
,
2, 401, 306 20
463
I
,
1, 756, 665 00
672
.
1, 232, 612 33
090,
1
,
1,477. 229 65
794
I
,
1, 296, 380 58
565;
I
,
1, 310, 768 301
400
!
,
1, 219, 222 71
I
,
1, 222, 802 32|
797
_
:
,
977,978 80
1, loo; 599 78
!
,
1, 034, 170 47
i
,
852, 513 86
i
,
1, 078, 473 90|

_

* Por the half year from J a n

REPORT OF THE SECRETARY OF THE TREASURY.

17

1789 to June 30,1882, hy cal. years to 1843 and hy fiscal years {ended June 30) from that time.

'Net ordinary
penditures.

Premiums'.

$1, 919: 589 52|
;
,
5, 896 258 47
1, 749,070 "
3, 545 299 00|
,541
4, 362
,
2, 551, 303 151
'110 52
2, 836,
4. 651,710 42
• 6,480,166 72
369 97
7, 411,
• 4,.98I, 669 90
3,737, 079 91
4, 002,824 24
4, 452,858 91
6. 357,234 62

Interest.

^1,177, 868 03
2, 373,611 28|
2, 097,859 17
2, 752,523 04|
2,947, 059 06
3, 239,347 68
3,172, 516 73
• 2,955. 875 90|
2, 815,651 41
3, 402,601 041
4,411, 830 06
4, 239,.172 16
3, 949,462 36
4,185, 048 74;
2, 657,114 22'
3, 368,968 26;
3, 369,578 48
2, 557,074 23'
2, 866,074 90
3,163, 671 09
2, 585,435 57
2, 451,272 5'
455 22|
3, 599,
4, 593,239 04
090-24
5, 990,
923 34
7, 822,
282 55
4, 536,
954 03
6, 209,
730 56
5, 211,
004 32
5,151.
073 79
5,126,
788 79
5,172,
475 40
4, 922,
557 93
4, 943,
757 40
4, 366,
542 95
3, 975.
071 51
3, 486,
800 60
8, 098,843, 23
2, 542,574, 93
1,912, 748 74
1, 373,561 50
• 772,796 87
803, 352 98
202, 863 08
57,

Public debt.

984 23
693, 050 25|
2, 633,048 0'
2, 743,771 131
2, 841,639 37|
2, 577,126 01
2, 617,250 12|
976, 032 09|
1, 706,578 84
1,138, 563 11
2, 879,876 981
5,294, 235 24
3, 306,697 07
3, 977,206 07
4, 583,960 631
5, 572,018 64
2, 938,141 62
7,701, 288 96
3, 586,479 26
4, 835,241 12!
5, 414,564 43
1, 998,349 88
7, 508,668 22
304 90|
3, 307,
6, 638.832 11
17, 048,139 59]
20, 886,753 57
15, 086,247 59I
2,492. 195 73
3, 477,489 96|
8, 241,019 83
2, 676,160 33
607, 541 01
11, 624,835 83
7, 728,587 381
7. 065,539 24
6,517, 596 88
9, 064,637 47
9. 860,304 77
9, 443,173 29
14, 800,629 48
17, 067,747 79|
1, 239,746 51
5, 974,412 211
328 20

Gross expenditures.

797, 436
962, 920
479, 977
041, 593
151,240
367, 776
625, 877
583, 618
11, 002, 396
11, 952, 534
12, 273, 376
13, 270,487
11, 258, 983
12, 615,113
13, 598, 309
15, 021,196
11, 292, 292

Balance in
Treasury a t
the eud of
the year.

. $973,905 75
783, 444"51
75 <,661 60.
1,151. 924 37
516, 442 61
888, 995 42
1,021, 899 04
• 617,451 43
2,161, 867 77
2, 623,811 99
3, 20.5,391 00
5, 020,697 64
4, 825,811 60
4. 037,005 26
8, 999,388 99
4, 538,323 W)
6, 080,
209 36
850 07
4, 984,572 89
9, 643,
809 96
338 85
762. 702
9. 941,
6, 504,
' 10,
3, 848.056 78
7, 414.672 14
13, 867, 226
276 57
309, 994
2, 672,
13,
5. 311.082 28|
3, 502,305 80
13, 592, 604
5, 592,604 86
3, 862,217 41.
22, 279,121
"17, 829,498 70
5,196, 542 00
39, 190, 520
28, 082.396 92
1. 727,848 63
38, 028. 230
80,127, 686 38
592 88
39, 582, 493
26, 953,571 00
13,106,
519 19
244,495
48,
22, 033,
23, 373,432 58
40, 877, 646 041 14,989, 465 48
35,454, 609 92i
526 74
104,875
35,
1, 478,
13, 808,673 78
992 38
24, 004,199
2, 079,
16, 300,273 44
461 21
\ 23,
1,398,
13,3.34, 530 57
763, 024
592 24
19, 090, 57.2.
1, 081,
10, 723,479 07
427 55
17, 676, 592
643 51
4, 237,
9, 827,
922 81
15, 314.171
9, 463,
9, 784,154 ,59
597 13
31, 898, 538
1, 946,
15, 330,144 71
650 43
23, 585, 804
5, 201,
13,490, 459 94
686 18
24. 303,398
6, 358,
13, 062,316 27|
286 id
22, 656, 764
6, 668;
12, 653,095 65
35. 459. 479
5, 972,435 81
13, 296,041 45|
25, 044, 358
.5, 75.5.704 79
12, 641,210 40|
•24, 585, 281
6, 014,539 75
13, 229,533
30, 038,446
4, 502,914 45
13, 864,067 901
34. 356, 698
16, 516,388 77
2, Oil,7,77 55
257, 298
• 24,
22, 713,755 11
11, 702,905 31
24, 601, 982
18, 425,417 25
892, 858 42
.573. 141 56' 26; 749,803 96
17,
17,514, 950 281
30. 868,164 04[ 46, 708,436 00
30, 868, 164 04|
37, 265, 037 151 37,327, 252 60
37, 243,214 24|
21, 822- 911
39, 455, 438 35; 36,891, 196 94
33, 849,718 «8|
5, 590,723 79|
14, 996 481
37, 614,936 15. •33,157,503 68
26. 496,948 73'
10, 718, 153 53
399, 833 89
28, 226, 533.81 29, 963,163 46
24,139, 920 11
3, 912,015. 62
174, 598 08
31, 797, 530 03, 28,685, 111 08
26,396, 840 291
5,335, 712 19
284, 977 55
32, 936, 876 .53; 30, 521.
979 44
7, 801,990 09
773, 549 85
24, 361,336 59
12, 118,105 15 .39,186,.284 74
338. 012 64
523, ,583 91
11, 256,,508 60|
108 01
33, 642,010 8 5 36,742, 829 62
.'
11,158, 450 71
1, 833,452 13
20, 650,
30, 490, 408 7li 36,194, 274 81
7, 536,349 49
1, 040,458 18
21, 895,369 611
8, 231 43
27, 632, 282 90 38,261, 959 65
371, 100. 04
842, 723 27
26, 418,459 59
00, .520, 851 74- 33, 079,276 43
5, 600,067 65
53,801, 569 37
1,119, 214 72|
60, 655,143 19 29,416, 612 45
13,036, 922 54
45, 227,4.54 77
2, 390.765
56, 386; 422 74' 32, 827,082 69
39, 933,.542 61
82, 865 81
3, 56.5,535 78] 12, 804,478 54
990 09
44, 604, 718 26, 35,871, 7.53 31
335 14
393 03
3, 656,
37,365,
8, 782,
48, 476. 104 311 40, l ' 8 3.53 25
.S,
654, 912 71
44, 054,717 66|
3. 696,760 75
69,713 19
954 56i
46, 712, 608 83.' 43, 33.^,
293 05
297 80
860 02
2,352,
4, 000.
40, 389,
170, 063 42|
156 35
54. 577, 061 74: 50,261, 901 09
6,432, ,574 01
3, 665;832 74
44, 078,
420, 498 64
528 42
75. 473,170 751 48, 591,073 41
896 95
926 69|
17. 556,
51, 967,
2, Sll, 818 69| 3, 070,
197 72
66, 3 61,775 96 47,777, 672 38
065 86
6, 662,
56,316,
872, 047 39
2.334, 464 99
527 64
72. 726, 341 ,57| 49,108, 229 80
3,614, 618 66
66, 772,
385, 372 90
1,9.5.3.822 37
343 70
71, 274, 587 37 46,802, 8.55 00
3, 276.6U6 05
66, 041,
363, 572 39
1,593,,265 23|
437 17
82, 062,186 74 35,133,- 334 22
72, 330,
574i 443. 08
7, 505,250 82
1, 652,055 67
950 07|
83, 678, 642 92I 33, 193,248 60
66, 355,
14, 685,043 15
2, 637,049.-701
754 71
77. 055.125 65 32,979, 530 78
250 00
120 94
60, 056,
13, 854,
3,144,
055 7«|
85, 387, 313. 08 30,963, 857 83
62,616,
18, 737,100 00
4, 034,157 30
667, 563
896 81
96, 097,322 09
565, 815,911 74" 4H, 965,304 87
13,190, 344 84
456, 379,,575 56
25 36, ,523,046 13
635 07
899.
.24,729, 700 62 181, 081,
694, 004,676 14|
421 69| 430, 572,014 03! 1, 295,541,114 86 134, 433,738 44
53, 685,
811, 283,

u a r y 1 to J u n e 30, 1843.

2F




18

REPORT OF THE SECRETARY OF THE TREASURY.
T A B I J J E M . — S T A T E M E N T of the EXPENDITUBES of the UNITED

Year.

}865
1866'.

War.

!N"avy.

$1, 030, 690, 400 06$122, 617, 434 07
283,154, 676 06 43, 285, 662 00

Indians.

Pensious.

$5, 0.59, 360 71 $16, 347, 621 34 $42, 989, 383 10
3, 295, 729 32 15, 605, 549 88 40, 613,114 17

3, 568, 638, 312 28 717, 5.51, 816 89 103, 369, 211 42 119,607,656 01
*3, 621, 780 07
*77, 992 17
*9, 737 87
'''53,'286 61
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882

3, 572, 260, 092 35
95, 224, 415 63
123, 246, 648 62
78, .501, 990 61
57, 655, 675 40
35, 799, 991 82
35, 372,157 20
46, 323,138 31
42, 313, 927 22
41,120,645 98
38, 070, 888 64
37, 082, 735 90
32,154,147 85
40, 425, 660 73
38,116, 916 22
40, 466, 460 55
43,570,494 19

Miscellaneous.

717,629,808.56 103, 422, 498 03
83,034,011 04
4, 642,'531 77
25, 775, 502 72
4,100, 682 32
20, 000, 757 97
7, 042, 923 06
21, 780, 229 87
3, 407, 938 15
19,431,027 21
7, 426, 997 44
21, 249, 809 99
7, 061, 728 82
23, 526, 256 79
7, 951, 704 88
30, 932, 587 42
6, 692, 462 09
21, 497, 626 27
8, 384, 656 82
18, 963, 309 82
5, 966, 558 17
14, 959, 935 36 • 5, 277, 007 22
•
17, 365; 301 37
4, 629,'280 28
15.125,126 84
5, 206,109 08
13, 536, 984 74
5, 945, 457 09
15, 686, 671 66
6, 514,161 09
15, 032, 046 26
9, 736, 747 40

643, 604, 554 33
*718, 769 52

119, 617, 893 88 644, 323, 323 85
20, 936, 551 71 51,110, 223 72
23, 782, 386 78 53, 009, 867 67
28, 476, 621 78 56, 474, 061 53
28, 340, 202 17 53, 237, 461 56
34, 443, 894 88 60,481, 916 23
28, 533, 402 76 60, 984, 757 42
29, 359, 426 86 73, 328,110 06
29, 038, 414 66 85,141,593 61
29, 456, 216 22 71,070,702 98
28, 257, 395 69 73, 599, 661 04
27, 963, 752 27 58, 926, 532 53
27,137, 019 08 53,177, 703 57
35,121, 482 39 65, 741, 555 49
56, 777,174 44 54, 713, 529 76
50, 059, 279 62 64, 416, 324 71
61, 845,198 95
57, 219, 750 98

"4, 397, 705, 987 22 043, 526, 993 89 203, 409, 448 71 658, 645, 809 14 636, 957, 076 71
1,
1,
* Outstanding
l^OTE.—This statement is made from v^^arrants paid by the Treasurer up to J u n e 80, 1866. The outance in the Treasury Juue 30, 1882, as shown by tbis statement, includes the amount deposited with




19

REPORT OF THE SECRETARY OF THE TREASURY.
STATES from March 4, 1789, to June 30, .1882, cfc—Continuecl. .

Y e a r . l!Tet o r d i n a r y expenditures.

1865
1866

Premiuins.

$1, 217, 704,199 28 $1, 717, 900 11
88,5,954,73143
58,476 51

Interest.

Public debt.

Gross expenditures.

Balance
in
Treasury at
t h e e n d ,of
t h e year.

$77, 895, 090 .80 $609, 616,141 68 $1, 906, 433, 331 37 $33, 933, 657 89
133, 067, 624 91 620, 263, 249 10 1,139, 344, 081 95 165, 301, 654 76

5,152, 771. 550 43 7, 611, 003 56 502, 689, 519 272, 374, 677,103 12 8,037,749,176 38 .
*100 31
*4, 481, 566 24
*2, 888 48
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882

5,157, 253,116
202, 947, 733
229, 915, 088
190, 496, 354
164, 421, 507
1.57, 583, 827
153, 201, 856
180, 488,636
194, 118, 985
171, 529, 848
164, 8.57,813
144, 209, 963
134, 463, 452
361, 619, 934
169, 090, 062
177, 142. 897
186, 904, 232

611, 003 56
81.3, 349 38
001,151 04
674,680 05
996, 555 60
016. 794 74
958, 266 76
105, 919 99
395,073 55

502,
143,
140,
130,
129.
125,
117,
104,
107.
103,
100,
• 97,
102,
105,
795, 320 42 95,
061,248 78
82,
71,

407 75
591 91
045 71
242 80
498 00
565 93
839 72
688 44
815 21
544 57
271 23
511 58
874 65
949 00
.575 11
741 18
206 79

, 374. 677,
203
73.5, 536,980
692, .549,685
261, 912,718
393, 254,282
399, 503,670
405, 007,307
233, 699,3.52
422, 065,060
407, 377,492
449, 345,272
323, 965,424
353, 676,944
699, 445,809
432, 590,280
165.152, 335
271, 646,299

43
11
88
31
13
65
54
58
23
48
05
90
16
41
05
55

8, 042,233,
1, 093,079,
1, 069,889,
584, 777,
702, 907,
691, 680,
682, 525,
524, 044,
724, 698,
682, 000,
714, 446,
565, 299,
590, 641,
966, 393,
700, 233,
425, 865,
529, 627,

731 41160, 817, 099
655 27 198, 076, 537
970 74 158, 936, 082
996 11183, 781, 985
842 88 177, 604,116
858
138, 019,122
270
134, 666, 001
597
159, 293, 673
933
178, 833, 339
885
172, 804, 061
357
149, 909, 377
898
214, 887, 645
271
286, 591, 453
692
386, 832, 588
238
231, 940, 064
222
280, 607,668
739
247, 349, 258

73
09
87
76
51
15
85
41
54
32
21
88
88
65
44
37
62

7, 940, 245, 310 67 69, 429, 363 87 2, 259, 266, 369 58 9, 021, 406,119 26 19, 290, 347,163 I

s t a n d i n g w a r r a n t s a r e t h e n added, a n d t h e s t a t e m e n t is b y w a r r a n t s issued from t h a t d a t e ,
t h e S t a t e s , $28,101,644.91.




T h e bal-

T A B L J E l . ^ S T A T E M E N T showing the CONDITION of the SINKING-FUND from its institution in May, 1860, to and including June 30, 1882.
DR.
July

T H E S E C R E T A P Y O F T H E T R E A S U K Y I N ACCOUNT W I T H SINEPN'G-FUND.

1,1868

J u n e 30,1869

T o i of 1 p e r cent, on t h e p r i n c i p a l of t h e p u b l i c d e b t ,
b e i n g for t h e t h r e e m o n t h s from A p r i l 1 to J u n e 80,
1868
T o i n t e r e s t on $8,693,000, b e i n g a m o u n t of p r i n c i p a l of
p u b l i c d e b t p u r c h a s e d d u i i n g fiscal y e a r 1869 on t b i s
account
.o.
".
Balance to new account

J u n e 30,1869
$6, 529, 219 63

B y a r a o u n t of p r i u c i p a l purchase^d, $8,691,000, i n c l u d i n g
$1,000 donation, e s t i r a a t e d iu gold
B y a c c r u e d intei e s t on t h e a m o u u t of p u r c h a s e s in 1869.

.

CR.

IN3

O

•, 261, 437 30
136, 392 56

196, 590 00
672, 020 23
7. 397, 829 86

7, 397, 829 86

O

^
July

1,1869

J u n e 30,1870

T o 1 p e r cent, ou t h e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30,1869, $2,.588,452,213.94
T o i n t e r e s t o n $8,691,000, a m o u n t o f r e d e m p t i o n in 3869..
T o i n t e r e s t on $28,151,900, a m o u u t of p r i n c i p a l of p u b l i c
d e b t p u r c h a s e d d u r i n g fiscal y e a r 1870 on t h i s a c c o u n t .

25, 884, 522 14
521,460 00

J u l y 1,1869
J u n e 30,1870

B y b a l a n c e from la.st y e a r
B y a m o u n t o f p r i n c i p a i p u r c h a s e d , $28,151,900, e s t i m a t e d
in gold
—
1 ...
B y a c c r u e d i n t e r e s t on a c c o u n t of p u r c h a s e s in 1 8 7 0 . . .
B y b a l a n c e to n e w a c c o u n t

1,1870

J u n e 8Q, 1871

T o b a l a n c e from l a s t y e a r
T o 1 p e r c e u t . ou t b e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 80,1870, $2.480,672,427.81
T o i n t e r e s t ou r e d e m p t i o n of 1869, $8, 691, 000
v- T o i n t e r e s t on r e d e r a p t i o n of 1870, $28,151, 900
'..
T o i n t e r e s t ou $29,936,250, a m o u n t of p r i n c i p a l of p u b l i c
d e b t p u r c h a s e d d u r i n g fiscal y e a r 1871 on t h i s a c c o u n t

B y a m o u n t of p r i n c i p a l p u r c h a s e d , $29,986,250, estim a t e d
in gold
B y a c c r u e d i n t e r e s t on a c c o u n t of p u r c h a s e s in 1 8 7 1 . . .
B y b a l a n c e to n e w a c c o u n t . . . '

1,1871

J u n e 80,1872

T o b a l a n c e from l a s t y e a r
T o 1 p e r cent, on t h e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30,1871, $2,353,211,-332.32
T
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691,000
T o i n t e r e s t on r e d e m p t i o n of 1870, $28,151,900
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936,250
T o i n t e r e s t on r e d e m p t i o n of $32,618,450, a m o u n t of
p r i n c i p a l of p u b l i c d e b t p u r c h a s e d d u r i u g fiscal y e a r
1872 on t h i s a c c o u n t
.
*
To balance to new account




CJ

28. 694, 017 78
367, 782 53
257, 474 32

O

g

1, 557, 264 50
29, 319, 274 58

July

Ul

29, 319, 274 58

J u n e 30,1871
24, 806, 724 28
521, 460 00
1,689,114 00

25, 898,143 57
351,003 54
744, 711 80
27, 660, 879 14

1, 254, 897 00
27, 660, 879 14

July

672, 020 23

257, 474 82
23,532,133
521,460
1, 689,114
1, 796,175

32
00
00
00

W
J u n e 30,1872

B y a m o u n t of p r i n c i p a l p u r c h ased, $32,618,450, e s t i m a t e d
"in gold
B y a c c r u e d i n t e r e s t on a c c o u n t of p u r c h a s e s in 1872

32, 248, 645 22
430, 908 38

Ul

a

2, 059, 325 50
2,823,891 46
,32, 679, 553 60

W

32. 679, 553 60

Julv . 1, 1872 By balauce from last year.
July 1,1872 To 1 per cent, on the principal of the public debt on
Juue 30,1872, $2,253,251,328.78
22,532,513 29 June 30,1873 By a mount of priucipal p ur<:hascd $28,678,000, estiraa t e d
521,460 00
in gold
June 30,1873 To interest on redemptiou of 1869, $8,691,000
1, 689,114 00
To interest on redemption of 1870, $28,153,900
By accrued interest on account of purchases in 1873
1, 796,175 00
To interest on.redemption of 1871, $29,936,250
1, 957,107 00
To interest on redemption of 1872, $32,618,450
To interest on redemption of $28,678,000, amount of
principal of public debt purchased during fiscal year
1873 on this account
\ 1,72.5,88150
i, 451, 588 95
To balance to new account
31, 673, 889 74

2, 823, 891 46
28, 457, 562 83
392, 385 45

31, 673, 839 74

O
H
O

>^

w
1,1873 To 1 per cent, on the principal of the public debt on
June 30, 1873,12,234,482,993.20
J u n e 30,1874 To iuterest on redemptiou of 1869, $8,691,000
To interest on redemption of 1870, $28,151,900
To intereston rederaption of 1871, $29,936,250
To interest on redemption of 1872, $32,618,450
To interest on redemption of 1873, $28,678,000
To iuterest ou redemption of $12,936,450, amount of
principal of public debt purchased duiing fiscalyear
1874 cm this account
July

July

1,1878 By balance from last year
?...
By amount of principal purchased, $12,936,450, estimated
in gold
By accrued interest on account of purchases in 1874
B;y balance
,

22, 344, 829 93 Juue 30,1874
521,460 00
1, 689,114 00
1, 796,175 00
1, 957, 107 00
1, 720, 680 00

1, 451, 588 95
872, 850 74
12,, J
222, 585 28
',
16,: 305, 421 96

K
Ul

o
pi

828, 082 00
30, 852, 447 93

30,852,447 93

June 30,1875 By amouut of principal redeemed, estimated in gold...
22, 516, 904 68
By accrued interest on account of redemption in 1875.
521,460 00
By balance
.-

o

25,170, 400 00
353, 061 56
5, 996, 039 02

H
1,1874 To 1 per cent, on the principal of the public debt on
J u u e 30, 1874, $2,251,690,468.43
J u n e 30,1875 To interest on redemption of 1869, $8,691,000
To interest on redemption of 1870, $28,151,900
To interest on redemptiou of 1871, $29,936,250
To interest on redemption of 1872, $32,618,450
To interest on redemption of 1873, $28,678,000
To iuterest on redemptiou of 1874, $12,936,450
To iuterest on redemptiou of $25,170,400, amount of
principal of public debt " p a i d " during fiscal year
1875 ou this account
July




1, 689,114 00
1, 796,175 00
1, 957,107 00
1, 730, 680 00
776, 087 00

>
Ul

a

541, 793 50
31, 519, 501 18

31,519,501 18

to

T A B I . E J.—STATEMENT shoiuing the CONDITION of the SINKING-FUND, ^/c—Continued.
T H E SECRETARY OF T H E TREASURY I N ACCOUNT W I T H

DR.

July

1,1875

J u n e 30,1876

T o 1 p e r c e n t , on t b e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30,1875, $2,232,284,531.95
T o i n t e r e s t ou r e d e r a p t i o n of 1869, $8,691,000
T o i n t e r e s t o n r e d e r a p t i o n of 3870, $28,151,900
T o i u t e r e s t on r e d e m p t i o n of 1871, $29,936,250T o i n t e r e s t on r e d e m p t i o n of 1872, $32.618.450
T o i u t e r e s t on r e d e m p t i o n of 1873, $28,678,000
T o i n t e r e s t i o n r e d e m p t i o n of 1874, $12,936.450
T o i u t e r e s t on r e d e m p t i o u of 1875, $25,170,400
T o i n t e i e s t ou r e d e m p t i o n of $32,183,488:09, a m o u u t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i u g f i s c a l y e a r
1876 ou t h i s a c c o u u t
."

J u n e 30,1876
$22, 322, 845 32
521, 460 00
1, 689,114 00
1, 796,175 00
1,957,107 00
1, 720, 680 00
776, 087 00
1, 510, 224 00

By
By
B;y
By
By
By

amount
accrued
amouut
amouut
amount
balance

SINKING-FUND.
of p r i n c i p a l r e d e e m e d , e s t i m a t e d in gold
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 187^
of f r a c t i o n a l c u r r e n c y r e d e e m e d
of l e g a l - t e n d e r s r e d e e m e d
-.
of certificates of i n d e b t e d n e s s r e d e e m e d

3,1876

J u n e 30,1877

T o i p e r c e n t , ou t h e p r i u c i p a l of t h e p u b l i c d e b t on
J u n e 30,1876. $2,180,395,067.15
T o i u t e r e s t on r e d e m p t i o u of 1869, $8,691,000
T o i n t e r e s t ou r e d e m p t i o u of 3 870, $28,151,900
T o i n t e r e s t o n r e d e m p t i o n of 1871, $-2-9,936,2.50
T o i u t e r e s t ou r e d e m p t i o n of 1872. $32,618,450.
T o i n t e r e s t on r e d e r a p t i o n of 1873. $28,678,000
T o i n t e r e s t ou r e d e m p t i o u of 1874. $12,936,450
T o i n t e r e s t ou 1 e d e m p t i o n of 1875, .$25,170,400
T o i n t e r e s t on r e d e m p t i o n of 1876, $32,183,488.09
T o i n t e r e s t - o n r e d e r a p t i o n of $24,498,919.05, a r a o u n t of
priucii)al of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1877 ou t h i s a c c o u n t

1,1877

J u n e 30,1878

T o 1 p e r c e u t . on t h e p r i u c i p a l of t h e p u b l i c d e b t on
J u n e 30; 1877, $2.205,301,392.10
T o i n t e r e s t ou r e d e r a p t i o n of 1869, $8,691,000
T o i u t e r e s t on r e d e r a p t i o n of 1870, $28,151,900
T o i n t e r e s t ou r e d e m p t i o u of 3871, $29,936,2.50
T o i u t e r e s t on r e d e m p t i o n of 1872, $32,618,450
T o i n t e r e s t ou r e d e m p t i o n of 1873, $28,678,000
T o i n t e r e s t ou r e d e m p t i o u of 1874, $12,936,450
T o i u t e r e s t on r e d e m p t i o n of 1875. $25,170,400
T o i n t e r e s t ou r e d e m p t i ( m of 1876, $32,383,488.09 . T o i n t e r e s t on r e d e m p t i o n of 1877. $24,498.910.05
T o i n t e r e s t ou r e d e m p t i o u of $17,012,634.57, a r a o u n t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1878 on t h i s a c c o u n t
1
^




$18, 444, 050
257, 517
7, 062,142
5, 999, 296
678, 000
1,143, 769

00 ,
91
09
00
00
82

1, 291, 088 50
38, 584, 775 82
J u n e 80,1877
21,803,050
521,460
1,089,114
1, 796,175
1, 9.57,107
1, 720, 680
776, 087
1,510,224
1, 931, 009

67
00
00
00
00
00
00
00
28

By
By
By
By
By

amount
accrued
amount
araount
balance

of p r i u c i p a l r e d e e m e d , e s t i m a t e d in g o l d . .
i u t e r e s t ou a c c o u n t of r e d e m p t i o n i u 1877.
pf fractional c u r r e n c y r e d e e m e d
of l e g a l - t e n d e r s r e d e e m e d
:.

H
W

447, 500
5, 776
14, 043, 458
10, 007, 952
9, 225,146

W

00
.52
05
00
63

>
o

24, 026 25
33, 729, 883 20
J u n e 30,1878
22, 053, 013
521, 460
1, 689,114
3,796,175
1,957,107
1, 720, 680
776, 087
• 3,510,224
3,931,009
1, 469, 934

92
00
00
00
00
00
00
00
28
60

By
By
By
By
By

amount
accrued
amount
amount
balance

of p r i n c i p a l r e d e e m e d , estima.tpd i n g o l d .
i n t e r e s t on a c c o u n t of r e d e m p t i o n in 1878
of fractioual c u r r e n c y r e d e e m e d
of l e g a l - t e n d e r s r e d e e m e d

73, 950
809
3, 855, 368
13, 083. 316
18, 415, 557

00
92
57
00
31

l-J

w
K
H
GO

d

4,197 00
35, 429, 001 80

o
H

33, 729, 833 20
- July

IN:)

o
^^

33, 584, 775 82
July

to
CR.

35, 429, 001 80

July

1,1878

J u n e 30,1879

T o 1 p e r cent, on t h e n r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30. 1878, $2,256,205,892.53
T o i n t e r e s t ou r e d e m p t i o n of 1869, $8,691 000
T o i n t e r e s t on r e d e m p t i o u of 1870, $28,151,900
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936,250
T o i u t e r e s t on r e d e m p t i o u of 1872, $32,618,450
T o i n t e r e s t ou r e d e m p t i o n of 1873, $28,678,000
T o i n t e r e s t ou r e d e m p t i o n of 1874, $12,936,450
T o i u t e r e s t on r e d e m p t i o n of 1875, $25,170,400
T o i u t e r e s t ou r e d e m p t i o u of 1876, $32,183,488.09.°
T o i n t e r e s t on r e d e m p t i o n of 1877, $24,498,910.05
,
T o i n t e r e s t on r e d e m p t i o n of 1878, $17,012,634.57
T o i n t e r e s t on r e d e m p t i o n of $723,662.99, a r a o u u t of
. p r i u c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1879 on t h i s a c c o u n t

J u n e 30,1879
22, 562,058
521, 460
1, 689,114
1, 790,175
1, 957,107
1, 720,680
776, 087
1, 510,
224
• 1,931,009
1, 469,984
758
1, 020,

93
00
00
00
00
00
00
00
28
60
07

By
B;y
By
By

a m o u n t of p r i u c i p a l r e d e e m e d , e s t i m a t e d in g o l d . .
a c c r u e d i n t e r e s t ou a c c o u n t of r e d e m p t i o n in 1879.
a m o u n t of f r a c t i o n a l c u r r e n c y r e d e e m e d
balance

1,-1879

J u n e 30,1880

T o 1 p e r c e n t , ou t h e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30, 1879, $2,349,567.482.04
T o b a l a n c e from fiscal y e a r 1874
$16, 305, 421 96
T o b a l a u c e from fiscal y e a r 1875
5, 996. 039 62
T o b a l a n c e from fiscal y e a r 1876
1,143, 769 82
T o b a l a n c e from fiscal y e a r 1877
9, 225,146 63
T o b a l a n c e from fiscal y e a r 1878
18, 415, 557 31
T o b a l a n c e from fiscal y e a r 1879
36, 231, 632 87
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691,000
T o i n t e r e s t on r e d e r a p t i o n ol' 1870, $28,151,900
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936,250
T o i n t e r e s t on r e d e m p t i o d of 1872, $32,618,450
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,936,450
T o i n t e r e s t on r e d e m p t i o n of 1875, $25,170,400
T o i n t e r e s t on r e d e n i p t i o n of 1876, $32,183,488.09
T o i n t e r e s t on r e d e m p t i o n of 1877, $24,498,910.05
T o i u t e r e s t on r e d e m p t i o n of 1878, $17,012-, 634.57
T o i n t e r e s t on r e d e m p t i o n of 1.879, $728,662.99
,
T o i u t e r e s t on r e d e m p t i o n of $73,904,617.41, a m o u n t o f
p r i n c i p a l of p u b l i c d e b t " p a i d " durin.g
fiscalyear
1880 on t h i s a c c o u n t
,




00
77
99
87

hj

H
O
36, 955, 604 63
J u n e 30,1880

23, 495, 674 82

18, 500
308
705,162
36, 231, 632

O

36, 955, 604 63
July

\

By
By
B;y
B;y
By

amount
accrued
amount
amount
balance

of p r i n c i p a l r e d e e m e d in 1880
".
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 1880
of p r e m i u m p a i d
of f r a c t i o n a l c u r r e n c y r e d e e m e d
".

73^652, 900
935,951
2, 795, 320
251, 717
49, 817,128

00
60
42
41
78

87, 317,568 21
,521, 460 00
1, 689,114 00
1, 796,175 00
1, 957,107 00
1, 720,680 00
776, 087 00
1,510, 224 00
1, 931,009 28
1, 469,934 60
758 07
1, 020,
48, 419 78

W
Ul

o
w
Hi
O

m

2, 203, 806 45
Ul
127,453,018 21

127, 453, 018 21

a
Kj

to

• t A B X - E 1.—STATEMENT shoioing the CONDITION of the SINKING-FUND, cfc.—Continued.
T H E S E C R E T A R Y OF T H E T R E A S U R Y I N ACCOUNT W I T H T H E

DR.

July

1,1880

J u n e 80,1881

$49, 817,128 78
T o b a l a n c e from l a s t y e a r
.'
T o 1 p e r cent, on t h e p r i n c i p a l of t b e p u b l i c d e b t on
21,204, 153 71
J u n e 30,1880, $2,120,415,.370.63
521, 460 00
T o i n t e r e s t on r e d e m p t i o n of 3 869, $8,691,000
1, 689, 114 00
T o i n t e r e s t on r e d e m p t i o n of 1870, $28,151.900
1,796, 175 00'
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936.250
,
1, 957, 107 00
T o i n t e r e s t on r e d e m p t i o n of 1872, ^62,618,450
1,720, 680 00
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000
776, 087 00
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,936,450
1, 510, 224 00
T o i n t e r e a t on r e d e m p t i o n of 3 875, $25,170,400
:
1,933, 009 28
T o i n t e r e s t on r e d e m p t i o n of 1876, $32,183,488.09
1, 469, 934 60
T o i n t e r e s t on r e d e m p t i o n of 1877, $24.496,910.05
1, 020, 758 07
T o i n t e r e s t on r e d e m p t i o n of 1878, $17,012.634.57
43, 419 78
T o i n t e r e s t on r e d e m p t i o n of 1879, $723,662.99
4,161, 762 04
T o i u t e r e s t on r e d e r a p t i o n of 1880, .$73,904.617.41
T o i n t e r e s t on r e d e r a p t i o n of $74,480,351.05, a m o u n t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
2, 935, 731 65
1881 on t h i s a c c o u n t
,

J u n e 30,1881

By
By
By
By
By

amount
accrued
amouut
amount
balauce

SINKING-FUND.

of p r i n c i p a l r e d e e m e d In 1881
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 1881
of p r e m i u m p a i d
of f r a c t i o n a l c u r r e n c y r e d e e m e d

1,1881

J u n e 30,1882

T o b a l a n c e frora l a s t y e a r
T o 1 pef cent, on t b e p r i n c i p a l of t h e p u b l i c d e b t on
J u n e 30, 1881, $2,069,013,569.58
T o i n t e r e s t ou r e d e m p t i o n s p r i o r t o 1882
T o i n t e r e s t on r e d e m p t i o n of $60,137,8f5.5.5, a m o u n t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1882 on t h i s a c c o u n t
.'




16, 305, 873 47
20,690,335 70
22, 638, 857 88

$74, 371, 200
707, 421
1, 061, 248
109, 001
16, 305, 873

00
61
78
05
47

Ti
O
H

O
Tl
H

w
Ul

o
92, 554, 744 91

92, 554, 744 91
July

CR.

J u n e 30,1882

By
By
By
By

a m o u n t of p r i n c i p a l r e d e e m e d i n 1882
a c c r u e d i n t e r e s t on a c c o u u t of r e d e m p t i o n in 1882
a m o u n t of fractional c u r r e n c y r e d e e m e d
balance

60, 079,150
612, 039
58, 705
461, 309

00
53
55
15

H

Kl

o

1, 576, 337 28
61, 211, 204 23

61, 211, 204 23

w
H
Ul

Kl

T A B E E M..—STATEMENT shoiving the ANNUAL A P P B O P B I A T I O N S madeby CONGBESS for E A C H FISCAL YEAB from 1875 to 188:^,
inclusive, together with the COIN VALUE of such A P P B O P B I A T I O N S computed upon the average j^rice of gold for each year in question.

.

3d Session 4.5th
s a
ses1st session 43d 2d session 43d 1st s e s s i o n 44th 2d session 44th 3 s ti o n d 2d 5 t h C o n g r e s s , 2d session 46tli 3d session 46th 1st session 47th
ns 4
Congress.
Congress.
a n d 1 s t sesCongress.
Congress.
Con g r e s s . C o n g r e s s .
Congress.
C
e
Fiscal y e a r F i s c a l y e a r F i s c a l y e a r F i s c a l y e a r F i o cna g r y s s .r sion 46th Con- F i s c a l y e a r F i s c a l y e a r F i s c a l y e a r
s l
ea
1883.
gress. Fiscal
1881.
1682.
1875.
1878.
1876.
1877.
' 1879.
y e a r 1880.

O
H

To supply deficiencies for
the service of the various
branches of the government
Por le.aislative, executive,
aud judicial expenses of
the government
For sundry civil expenses
of the government
For support of the A r m y . . .
For the naval service
For the Indian service
For rivers and harbors
For forts aud fortifications .
For support of MiUtary
Academy . . . .
For service of Post-OfiSce
Departraent
For invalid and other pensions, including deficiencies
For consular and diplomatic
service
For service of Agricultural
Depaitment
For expeuses of the Disof Columbia
For miscellaneous
Totals

$4, 053, 812 89

$2, 387, 372 38

$834, 695 66

$2, 547,186 31

20, 758, 255 50

16, 038, 699 49

16, 057, 020 82

15, 756, 774 05

15, 868, 694 50

26,
27,
20,
5,
5,

924, 746, 88
788, 500 00
813, 946 70
538, 274 87
228, 000 00
904, 000 00

29, 459, 853 02
27, 933, 830 00
17, 001, 306 90
- 5, 425, 627 00
0, 648, 517 50
8.50, 000 00

15, 895, 065
27, 621, 867
12, 741, 790
4,567,037
5, 015. 000
815, 000

17, 079, 256 19

24,968,589 68
51,279,679 39
14,153, 431 70
4, 734,-875 72
8, 322, 700 00
275, 000 00

339, 835 00

304, 740 00

$6,118, 085 10

$5,110, 862 39

$9, 853, 869 80

16,186,230 31

16, 532, 008 93

17, 797, 397 61

20, 322,-907 65

19, 724, 868
26, 797, 300
14, 028, 468
4, 713, 478
9, 577, 494
275, 000

22, 503, 508
26, 425, 800
14, 405, 797
4, 657, 262
8, 976, 500
550, 000

22, Oil, 222
26, 687, 800
14, 566, 087
4,587,866
11, 451, 300
575, 000

25, 425, 479
27, 0'32, 099
14, 903, 558
5, 219, 603
18, 988, 875
375, 000

O
TJ
H
W

$15, 213, 259 21 , $4, 683, 824 55

Ul

7,175, 542 00

8, 376, 205 00 ,

58
90
90
63
00
00

13,539,932 90
4, 827, 665 69
275, 000 00

56
00
95
58
61
00

23
00
70
72
00
00

87
00
55
80
00
00

45
18
98
91
00
00

290, 065 00

286, 604 00

292, 805 00

319, 547 33

816, 234 28

822, 485 87

335, 557 04

5, 927, 498 00

2, 939, 725 00

4, 222, 274 72

5, 872 376 10

3, 883, 420 00

2,152, 258 00

1, 902,177 90

•

29,980,000 00

80, 000, 000 00

29, 533, 500 00

28, 533, 000 00

29, 371, 574 00

56, 233, 200 00

41, 644, 000 00

68, 282, 306 68

116, 000, 000 00

3, 404, 804 00

1, 374, 985 00

1,188,797 50

1,146, 747 50

1,087,585 00

1, 097, 735 00

1,180, 835 00

1,191, 435 00

1, 256, 655 00

258, 800 00

835, 500 00

427, 280 00

8, 379, 571 44
1,128, 006 15

3, 496, 060 47
5, 888, 993 69

2, 108, 040 86
155, 017, 758 20

4, 184, 691 98

1,42.5,091 49

2, 226, 390 29

2, 995,123 77

3, 425, 257 85
4, 959, 332 01

147, 714, 940 81 •124,122,010 92

88, 356, 983 13

172,016,809 21

162, 404, 647 76

155, 830, 841 32

179, 578, 999 86

251,428,117 57

1, 853, 804 52

o
w

o
^^
H

ffl
H

QQ

d
Kl

Coin value of one dollar
paper currency

88.8

87.8

92.7

97.6

99.8

100

100

100

100

Goin value of amount appropriated

137, 655, 769 28

129, 693, 718 03

115, 061,104 12

86, 236, 415 53

371,672,775 59

162, 404, 647 76

155, 830, 841 82

179, 578, 999 86

251, 428,117 57




to

TABEE

1^.—STATEMENT showing the PUBCHASE of BONDS on account ofthe SINKING-FUND during each fiscal year from its institution in
May, 1869, io and including June 'SO, 1882.

Year ended—

Balauce of inPrincipal re- Premium paid. Net cost in Net cost esti- Interest d u e Accrued interterest due at
at close of
est paid in
deemed. •
currency.
mated in gold.
closeof fiscal
fiscal year.
coin.
year.

J U N E 30, 1869.
Five-twenties
Five-twenties
Five-twenties
Five-twenties
Consols, 1865
Consols, 1867
Consols, 1868

of 1862
of March, 3864
of June, 1864
of 1865

-....
1...

Total

to
C75

t=J
TJ
O

H
$1,623,000 00
70,000 00
1,051,000 00
46.5,000 00
461, 000 00
4, 718, 000 00
305, 000 00
8, 691, 000 00

$253, 822 84
11,725 00
161, 946 45
74, 969 00
73, 736 80
749, 208 08
49, 442 50

$1, 874, 822 84
81, 725 00
1, 212, 946 45
539, 969 00
534, 736 80
5, 467, 208 08
354, 442 50

$1, 349, 970 02
57, 552 82
873,205 61
387. 566 28
387, 903 26
3, 948, 586 11
256, 653 20

$16, 210 00
700 00
10, 510 00
4, 650 00
13, 830 00
141, 540 00
9,150 00

$7, 884 60
218 03
1, 470 42
2, 683 54
429 04
116, 032 35
8,173 98

$8, 825 40
481 37
9, 039 58
1, 966 46
13,400 90
25,507 65
976 02

O
TJ
H
W

1, 874, 850 67 10, 065, 850 67

7, 261, 437 30

196, 590 00

136, 392 56

60,197 44

o

160, 919 50
5, 350 CO
16.5,834 00
105, 257 50
49.5, 421 50
802, 734 50
19, 380 00

45, 994 49
49, 946 00
37,113 53
145, 518 29
66, 111 51
5, 238 73

114, 925 01
4, 269 01
11,5,888 00
68,143 97
349, 903 21
236, 622 99
14,141 27

1, 254, 897 .00

351, 003 54

908, 893 46

145, 975 00
1, 240 00
201,375 00
331,933 50
522,117 00
851, 528 00
3, 096 00

86, 657 80
388 35
51, 703 46
92, 259 58
109, 455 28
76, 745 93
572 13

1,557,264 50

367,782 53

cc

J U N E 30 1870.
Five-twenties
Five-twenties
Five-twen ties
Five-twenties
Consols, 1865
Consols, 1867
Consols, 1868

of 1862
of March, 1864
of Juue, 1864
of 1865

Total

3, 542, 050 00
85, 000 00
3. 971, 400 00
2, 790, 250 00
11, 532,150 00
5, 882, 550 00
348, 500 00
28,151, 900 00

493, 479 42
15, 742 87
506,189 91
361,735 43
, 454, 778 37
861, 763 73
53,368 95
8, 747, 053 68

4, 085, 529 42
3, 263, 099 51
100, 742 87
75, 658 .54
4, 477, 589 91
3, 647, 628 29
3,151,^985 43
2, 606, 636 20
12, 986, 928 37 10, 681, 736 97
6, 744, 313 73 5, 309. 810 90
401, 863 95
308; 573 16
31,898,953 68

25, 893,143 57

1, oao 99

K}

O

W

J U N E 80, 1871.
Five-twenties of 1862
Five-twenties of Mafch, 1864.
Five-twenties of -June, 1864...
Five-twen ties of 1865
Consols, 1865
Consols, 1867
Consols, 1868
1.
Total.




2, 792, 950 00
29, 500 00
8, 967, 350 00
6, 768, 600 00
10, 222, 200 00
6,103, 050 00
52, 600 00
29, 936, 250 00

227,
2,
340,
574,
850,
541,
4,

607 56
277 20
529 63
923 00
949 79
559 41
784 61

2,542,631 20

3, 020, 557 56
31,777 20
4, 307, 879 63
7, 343, 523 00
11,078,149 79
6,644,609 41
57,384 61
32, 478, 881 20

2, 680, 209 05
28, 590 88
3, 847,182 42
6,525,231 42
9, 762. 387 78
5,800,618 37
^, 49, 797 81
28,694,017 73

109, 317 20
t>
851 65
149,671 54
239, 673 92 Cl
412, 661 72
• 274, 782 07 Kl
2, 523 87
1,189, 481 97

J U N E 30, 1872.
Pive-twenties of
Five-twen ties of
Five-twenties of
Five-twenties of
Consols, 1865
Consols, 1867
Consols, 1868

1862
Marcb, 1864
June, 1864
1865

,
,
,

,

7,181, 905 21
764, 055 21
6, 34.5, 391 98
142, 059 03
126,123 46
14, 959 03
4,043,306 16
8, 573, 223 63
438, 656 16
4, 072, 038 70 8, 594, 747 85
436, 838 70
1, 436, 989 46 13, 225, 889 46 11,660,785 89
7, 792, 500 15 6, 863, 777 39
833,600 15
95, 801 63
84, 595 02
9, 951 63

,

32, 618, 450 00

3, 935, 050 34 86, 553, 500 34

7,137,100 00
50, 000 00
8, 741,150 00
3,9.59,850 00
10, 768, 250 00
4, 402,100 00
019, 550 00

925, 783 87
7, 372 50
480, 684 87
250, 635 93
1, 371,187 17
553, 610 89
81, 983 44

28, 678, 000 00

Total..-,

6,437,850 00
127,100 00
8, 604, 650 00
3,635, 200 00
11, 788, 900 00
6, 958, 900 00
85, 850 00

3, 671, 258 17 32, 349, 258 17 28,457, 562 83

427,849 00
8, 894 00
246, 001 50
246, 562 00
707.334 00
417,534 00
5,151 00

75, 179 43
1, 338 70
57, 449 80
37, 817 37
149, 248 21
108, 487 92
1, 886 95

82, 248, 645 22

2, 059, 325 50

430, 908 88

8, 062, 883 87 7, 089, . 4 58
52
57, 372 50 •
49,780 91
4, 221, 834 87 3,715,211 22
2, 210, 485 93 1, 943, 488 93
12,139, 437 17 10, 668, 617 09
4, 955, 710 89 4, 873, 781 76
701, 533 44
617,140 34

431, 450 50
3, 500 00
223, 270 50
120, 266 50
646, 095 00
264,126 00
87,173 00

101, 960 57
813 70
42,216 46
23, 744 47
145, 069 34
69, 632 51
8, 948 40

352. 669 57
7.555 30
188,551 70
208, 744 63
558, 085 79
309, 046 08
3, 764 05
1,628,417 12

J U N E 30, 1873
Pive-twenties
.Five-twenties
Five-twenties
Five-twenties
Consols, 3865
Cousols, 1867
Consols, 1868

of
of
of
of

O

1862
March, 1864
June, 1864
1865

Total

:
J U N E 30, 1874.

Five-twenties of 1862...
Five-twenties of Juue, 1864
Five-twenties of 1865
Cousols, 1865
Consols, 1867
Consols, 1868

o
fel

,
,

Total...:

329, 489 93
2, 686 30
181, 054 04
• 96, 522 03
501,025 66
194,493 49
28, 224 60

1, 725, 881 50

892, 385 45

1, 415, 391 05
99, 519 00
2, 012, 051 82 . 141, 438 . 0
5
1,241,571 69
87, 307 50
8, 374, 934 42
203, 639 00
4, 029, 975 86
243, 060 00
798, 926 40
48,188 00

31, 748 95
48, 013 46
29, 348 19
46, 489 33
55, 976 97
11,014 38

67, 775 05
93, 425 04
57, 959 81
157; 129 67
187, 083 08
87,123 62

823, 082 00

222, 586 28

600, 495 72

541, 973 50

353, 061 56

o

188 911 94

1, 833, 496 05

/
1,421,700 00
2, 020, 550 00
1, 247, 250 00
8, 893, 650 00
4, 051, 000 00
802, 300 00
12, 936, 4 5 00
.0

161,219 79
238,457 89
135. 577 95
360, 964 62
432, 348 18
86, 505 62

1, 582, 919 79
2, 239, 007 89
1, 882, 827 95
8, 754, 614 62
4,483, 348-18
888, 805 62

1, 895, 073 55 14, 331, 523 55 12, 872, 850 74

J U N E 30, 1875.
Five-twenties of 1862.

CQ

Kl

o
H
W

fel
25,170.400 00

25,170, 400 00

Ul

J U N E 30, 1876.
Five-twenties of 1862
Five-twenties of "June, 1864
Five-twenties of 1865
Total




W
5, 785, 200 00
10, 869, 600 00
. 1,789,250 00

5, 785, 200 00
10, 869, 600 00
1, -789, 250 00

18, 444, 050 00

18, 444, 050 00

404, 964 00
760, 872 00
125, 247 50
1,293,083 50

54, 745 72
171,966 33
30, 805 86

350, 218 28
588, 905 67
94,441 64

257, 517 91

Kl

1 033 565 59

to

T A B E E Ju.—STATEMENT showing the PUBCHASE of BONDS on account of the SINKING-FUND, #c.—Coutinued.

to
OO

Y e a r ended—

P r i n c i p a l redeemed.

P r e m i u m paid.

N e t c o s t in
curreucy.

N e t c o s t estim a t e d in gold.

Interest due
a t close of
fiscal y e a r .

Accrued intere s t p a i d in
coin.

B a l a n c e of interest due at
close of fiscal
year.

J U N E 30, 1877.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u u e , 1864
F i v e - t w e n t i e s of 1865
Cousols, 1865
Consols, 1867

$81, 200
178,900
180, 350
6, 050
1,000

00
00
00
00
00

$81,200
178, 900
180,350
6, 050
1, 000

447, 500 00

Total
J U N E 30, 1878.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e u t i e s of 1865
Consols, 1865
Consols, 1867
Consols, 1868

17,900
1.5, 900
2, 350
23, 600
5, 700
8, 500

447, 500 00

00
00
00
00
00
00

17,
15,
2,
23,
5,
8,

73, 950 00

Total
J U N E 30, 1879.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
-F i v e - t w e u t i e s of 1865
:
Consols, 1865
Consols, 1867
Cousols, 1868

900
900
350
600
700
500

00
00
00
00
00
00

73, 950 00

$4,352
9, 943
9, 519
181
80

25
50
00
50
00

24, 026 25
966
834
129
1, 416
342
510

00
00
00
00
00
00

4,197 00

$1,181
1,323
3,141
108
21

67
60
08
97
20

5, 776 52
192
78
40
273
134
89

65
41
92
35
76
83

809 92

$3,170
8, 619
6, 377
72
8

58
90
92
58
80

18, 249 73
778
755
88
, 142
207
420

85
59
08
65
24
17

3,387 08

o
fel
O
H
QQ

rn
O
?o
H

fe
2,
3,
1,
1,
9,

650
150
850
700
050
100

2, 650
3,350
1,850
1, 700
9, 050
100

00
00
00
00
00
00

18, 500 00

Total

00
00
00
00
00

fe

00
00
00
00
00
00

38, 500 00

165
94
85
102
543
6

75
50
50
00
00
00

996 75

40
18
41
41
166
56

35
53
22
49
62
00

308 77

125
75
44
60
876
5

Kl

40
97
28
5r
88
44

o

687 98

w

J U N E 80, 1880.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e n t i e s of 1865
T e n - f o r t i e s of 1864
L o a n of F e b r u a r y , 1861
L o a n of J u l y a n d A u g u s t , 1861
L o a n of M a i c h , 3863
Oregon w a r d e b t
F u u d e d loan of 1881
F u n d e d loan of 1907
Total




100 00
100 00
250 00
676, 050 00
2, 837, 000 00
32, 064, 250'00
12, 797,150 00
202, 550 00
23, 575, 450 00
1, 500, 000 00
73, 652, 900 00

$74,161
, 376, 085
549, 035
. 8, 273
662, 206
125, 558

95
04
18
02
97
26

2, 795, 320 42

100
100
250
676, 050
2,913,161
33, 440, 335
13,346,185
210, 823
24, 237, 656
1, 625, 558

00
00
00
00
95
04
18
02
97
26

76, 448, 220 42

4
4
14
28,168
85,110
1,165, 807
484, 747
9, 787
415,162
15, 000

00
00
50
75
00
50
50
50
70
00

2, 203, 806 45

5
12,872
47,540
518,348
213,179
3, 662
130, 349
10,191

67
49
85
65
20
79
29
56
36
74

935, 951 60

8 83
8 51
8 65
15, 296 10
37, 569 80
647, 658 71
271,568 21
6,124 94
284, 813 34
4, 808 26
1,267,854 85

fel
CQ

J U N E 30, 1881.
F i v e - t w e n t i e s of J u u e 1864
F i v e - t w e n t i e s of 3865 !. . .
F i v e - t w e n t i e s of 3862
L o a u of F e b r u a r y , 1861
L o a n of J u l v and A u g u s t 1861
L o a n of M a r c h , 1863
Oregon w a r debt
F u n d e d loan of 1881 . .
Total

.

....

,

'.,.

Grand total




00
00
00
00
00
00
00
00

74, 371, 350 00

J U N E 80, 1882.
L o a n of J u l y and A u g u s t , 1861, c o n t i n u e d a t 8^ p e r c e n t
L o a n of M a r c b , 1863, c o n t i n u e d a t Sh p e r c e n t
F u u d e d loan of 1881, c o n t i n u e d a t 3§ p e r c e n t .
P u n d e d l o a n of 1881
'
Total

50
100
3, 000
7, 775, 000
16, 712, 450
7, 057,100
54, 250
42, 769, 400

.

55, 215, 850
2, 637, 850
1, 000
2,224,450

51, 277
488, 876
199, 51.4
1, 408
320,171

50
100
3, 000
7, 826, 277
17, 201, 326
7,2.56,614
i^55, 658
43, 089, 571

58
11
62
65
82

3
7
210
462, 390
1, 002, 747
861, 315
2, 584
1,106,474

50
00
00
00
00
50
50
15

1
80
160, 072
200, 043
88, 330
551
263,342

25
74
22
88
95
51
11
94

3
5
129
302, 317
802,703
277, 984
2, 033
843,131

25
26
78
12
05
99
39
21

2, 228, 308 05

75, 432, 598 78

-

60, 079,150 00
20, 522, 486 81

157, 677, 967 61

2, 935, 731 65

707, 423 60

55, 215, 850
2, 637, 850
1, 000
2, 224, 450

1, 061, 248 78

00
00
00
00

393, 269, 850 00

00
00
00
58
11
62
65
82

1, 368, 894
91,701
28
115, 717

62
75
83
53

579, 493 12
25, 771 80
2 78
6, 771 83

789,401
65, 929
20
108, 945

60, 079,150 00

1, 576, 337 23

612, 039 53

964, 297 70

891, 542, 026 59

16,195,192 83

4,773; 948 15

11, 421, 244 68

00
00
00
00

50
95
55
70

fe
w
1j

o
fe
H
O

'^
H

w
Ul

o
fe
>
fe
Kl

O
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H
fe
Ul
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to

^

TABEE

m . — S T A T E M E N T of the OUTSTANDING P B I N C I P A L of the P U B L I C D E B T of the UNITED STATES, June 30, 1882.
Length of
loan.

oo
O

"When redeem- Rate of in- atPrice A.mountauthorAmount outwhich
Amount issued,
terest.
standing.
able.
. ized.
sold.

fe
OLD DEBT.
For detailed information in regard to the earlier loans embraced under
this head, see Finance Report for 1876.

On demand . . . 5 and 6 per
cent.

$57, 665 00

Indefinite.

TREASURY NOTES PRIOR TO 1846.

o

Acts of October 12, 1837 (5 Statutes, 201); May 21, 1838 (5 Statutes, land 2 years. 1 and 2 years ^V of 1 to 6
228); March 2, 1839 (5 Statutes, 823); March 31,1840 (5 Statutes, 370);
from date.
per cent.
Pebruary 15,1841 (5 Statutes, 411); Januarv 31,1842 (5 Statutes, 469);
August 31,1842 (5 Statutes, 581); and March 3,1848 (5 Statutes, 614).

Par

$51, 000, 000 00 $47, 002, 900 00

82, 525 35

w

TREASURY NOTES OF 1846.

CQ

1 year . . . . . . Ono year from
date.

MEXICAN INDEMNITY.
Act of August 10, 1846 (9 Statutes, 94)

^J3 of 1 t o 5 |

5 years

Act of July 22, 1846 (9 Statutes, 89)

TREASURY NOTES OF 1847.

LOAN OF 1847."

20 years

BOUNTY-LAND SCRIP.

10,000.000 00

7, 687, 800 00

6, 000 00

5 per cent-

Par

320, 000 00

308, 573 92

1,104 91

5 | and 6 per
cent.

Par

23, 000, 000 00

*26,122,100 00

23, 000, 000 00

128, 230, 350 00

1, 250 00

238, 075 00

3, 275 00

10, 000, 000 00

5, 000, 000 00

20, 000 00

Indefinite.....

52, 778, 900 00

1,700 00

20, 000, 000 00

20, 000, 000 00

7, 000 00

per cent.

o
fe
H

fe

January 1,1868 6 per cent... 11 to 2
per cent,
prem'm.

Indefinite... A t the pleas- 6 per cent... Par
ure of the
government.

•.

TEXAN INDEMNITY STOCK.




Par

Kl

o

Act of January 28, 1847 (9 Statutes, 118)

Act of September 9,1850 (9 Statutes, 447)
TREASURY NOTES OP 1857.
Act of December 23,1857 (11 Statutes, 257)
LOAN OF 1858.
Act of June 14,1858 (11 Statutes, 865)

5 years from
date.

land 2 years. 1 and 2 years
from date.

A c t o f January 28,1847 (9 Statutes, 118)

Act of February 11,1847 (9 Statutes, 125)

o
fe
H

,.

14 years

January 1,1865 5 per cent... Par

lyear

1 year from
date.

15 years

January 1,1874 5 per cent... Average
prem'm
of3/^V

8 to 6 per
cent.

Par

w
Indefinite.

fe
CQ

dfe
Kl

LOAN OF 1860.
Actof J u n e 22, 1860 (12 Statutes, 79)

10 years.

January 1,1871 5 per cent.

. LOAN OF FEBRUARY,. 1861 (1881s).
Act of February 8, 1861 (12 Statutes, 129)

10 or 20 years Dec. 31,1880.

6 per cent.

P a r to
Ixlf^per
ct.pr m.

21, 000, 000 00

7, 022, 000 00

(Av.)89.08

25, 000, 000 00

18,415, 000 00

82, 000 00

fel

35, 364,450 00

3, 000 00

§
H

10, 000 00.

TREASURY NOTES OP 1861.
A c t o f March 2, 1861 (12 Statutes, 178)

60 days or 2
yeairs.

OREGON W A R DEBT.
A c t o f March 2, 1861 (12 Statutes, 198)

20 years.

i days or 2 6 per cent.
O
years a f t e r
date.
J u l y 1,1881.

6 per cent.

P a r . to Indefinite
liVuPer
ct. pr m.
Par

2,800,000 00

.

0
1, 090, 850 00

12, 950 00

H

LOAN OF J U L Y A N D AUGUST, 186L

CQ

The act of July 17, 1861 (12 Statutes, 259), authorized the issue of
$250,000,000 bonds, with interest at not exceeding 7 per centum per
annum, redeemable after twenty years. The act of August 5, 1861
(12 Statutes, 313), authorized the 'issue of bonds, with interest at 6
per centum per annum, payable after twenty years from date, in
exchange for 7.30 notes issued under tbe act of J u l y 17,1861.

20 years-

After June 30,
1881. .

6 per cent.. Par

250, 000, 000 00 189, 321, 850 00

679, 300 00

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H
f>

fe
><

LOAN OF J U L Y AND AUGUST, 1861.
Continued at 3^ per cent, mterest, and redeemable at the pleasure of
the govemment.

0

0
Indefinite... A t the pleas- 3^ per cent. Par
ure of the
government.

22, 077, 450 00

- OLD DEMAND-NOTES.
Acts of J u l y 17, 1861 (12 Statutes, 259); August 5, 1861 (12 Statutes,
. 313); February 12, 1862 (12 Statutes, 338).

Indefinite... On demand

None .

Par

60,<000, 000 00 *60, 030, 000 00

59, 695 00

Ul

SEVEN-THIRTIES OF 1861.
A c t o f J u l y 17, 1861 (12 Statutes, 259)

3 years

Aug. 19 and 7j% per cent. Av.pre. of Indefinite
Oct. 1,1864.

FIYE-TWENTIES OF 1862.
Acts of Februarv 25,1862 (12 Statutes, 845); March 3,1864 (18 Statutes,
18), and January 28,1865 (18 Statutes, 425).
* Including reissues.




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5 or 20 years. May 1,1867.... 6 per cent...

Av.pre.of

189, 999, 750 00

16, 300 00

515, 000, 000 00 514, 771, 600 00

a

370,000 00

1 Including conversion of Treasury notes.

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T A B E E m.—STATEMENT of the OUTSTANDING PBINCIPAL of the PUBLIC DEBT, ^c—Contiuued.

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to
Length of
loan.

When redeemable.

Rate of interest.

Price
at which I Amount author- Amount issued.
ized.
sold.

Amount outstanding.
fej

LEGAL-TENDER NOTES.
The act of February 25,1862 (12 Statutes, 345), authorized the issue of Indefinite.
$150,000,000 United Statesnotes,notbearinginterest,payabletobearer,
. at the Treasury ofthe United States, aud of such denominations, not
less than five dollars, as the Secretary of the Treasury migbt deera
expedient, $50,000,000 to be applied to the redemption of demandnotes authorized by the act of July 17,1861; these notes to be a legal
tender in payment of all debts, public and private, within the United
States, except duties on imports and interest on the public debt, and
to be exchangeable for six per cent. United States bonds. The act
of July 11,1862 (12 Statutes, 532), authorized an additional issue of
$150,000,000 of such denorainations as the Secretary ofthe Treasury
might deem expedient, but no such note should be for a fractional
part of a doUar, andnot more than $35,000,000 of a lower denomination tban five dollars; these notes to be a legal tender as before authorized. The act of-March 3, 1863 (12 Statutes, 710), authorized an
additional issue of $150,000,000 of such denominations, not less than
one dollar, as the Secretary ofthe Treasury might prescribe; which
notes were made a legal tender as before authoiized. The same ac^
limited the time in which Treasury notes might be exchanged for
United States bonds to July 1,1863. The amount of notes author- ized by this act were to be in liefi of $100,000,000 authorized by the
resolution of January 17,1863 (12 Statutes, 822).

On demand .

None .

Par.

$450, 000,000 00

$846, 681, 016 00

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TEMPORARY LOAN.
Acts of February 25,1862 (12 Statutes, 846), March 17,1862 (12 Statutes,
870), July 11,1862 (12 Statutes, 532), and June 30,1864 (13 Statutes,
218).

Indefinite..

After ten da.ys' 4, 5, and 6
notice.
per cent.

Par.

150, 000, O P 00 ^$716,099,247 16
O

2, 960 00

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CERTIFICATES OF I N l ^ B T E D N E S S . .
Acts of March 1,1862 (12 Statutes, 352), May 17,1862 (12 Statutes, 370),
and March 3, 1863 (12 Statutes, 710).

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1 year.

1 year
date.

after

Indefinite.

On presentation.

6 per cent... P a r .

561, 753, 241 65

4,000 00

50, 000, 000 00 ^368, 720, 079 51

7, 047, 247 77

No limit:

FRACTIONAL CURRENCY.
Acts of July 17,1862 (12 Statutes, 592), March 8,1863 (12 Statutes, 711),
and June 30, 1864 (13 Statutes, 220).




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None . . . . .

Par.

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LOAN OF 1863.
The act of March 3, 1863 (12 Statutes, 709), authorized a loau of
$900,000,000, a n d t h e issue of bonds, with interest not exceeding 6
per centum per annum, and redeemable in not less than ten nor
^ raore than forty years, principal aud iuterest payable in coin. The
}^ act of June 30', 1864 (13 Statutes, 219), repeals the above authority
except as to the $75,000,000 of bonds already advertised for.
Bonds of this loan coutinued at 3^ per cent, mterest, and redeemable
at the pleasure of the governmeut.

July 3,3.881 ... 6 per cciut... Average
premium of

17 .years.

'.

Par

Indefiuite.

At the pleasure 3^ per cent.
of the government.

1 year

1 year
date.

2 years . . .

2 years after
date.

5 per cent.. Par

Indefinite.

On demand ..

None

TWO-YEAR NOTES OF 1863.
Act of March 8,1863 (12 Statutes, 710)

75, 000, 000 00

214, 900 00

4TWO-

ONE-YEAR NOTES OF 1863.
Act of March 3,1863 (12 Statutes, 710)

75,000,000 00

after

47, 820,100 00

5 per cent.. Par . . . . . 400, 000, 000 00

400, poo, 000 00

44, 520, 000 00

166, 480, 000 00

O
32, 900 00

GOLD-CERTIFICATES.
Act of March 3,1863 (12 Statutes, 711)

Act of March 3,1864 (13 Statutes, 13)

3 years

3 years from
date.

10 or 40years. March 1,1874.

FIVE-TWENTIES OF JUNE, 1864.
Act of June 30, 1864 (13 Statutes, 218)
SEVEN-THIRTIES OF 1864 AND 1865.
Acts of J u n e 80,1864 (13 Statutes, 218), January 28, 1865 (13 Statutes,
425), and March 3,1865 (13 Statutes, 468).

6 por cent, Par
corapound.

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400, 000, 000 00

266, 595, 440 00

5 per cent.. Par to 7 200, 000, 000 00
per c't
prem.

3 years.

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220, 960 00

196,118, 300 00

5 or 20 years. Nov. 1,1869 . - - 6 per cent.. A V. prem.
•of2xWT..

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829, 992, 500 00

138, 950 00

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NAVY PENSION FUND.

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The act of July 1,1864 (13 Statutes, 414), authorized the Secretary of Indefinite... Indefinite.
the Navy toinvest in re.gistered securities of the United States, so
much of the Navy pension fund in the Treasury January 1 aud July
1 in each year as would not be required for the payment of naval
pensions. Section 2of the act of July 23,1868 (15 Statutes, 170), fixed
the interest on this fund at 3 per centum per annum in lawful money!
and confined its use'to the payment of naval pensions exclusively'




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400, 000, 000 00^ 125, 561, 300 00

Aug. 15,1867 )
June 15,1868 V 7^0 per c't. ^ Av. prem. ^800, 000, 000 00
of r%hJuly 15,1868)

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COMPOUND-INTEREST NOTES.
Acts of March 3.1863 (12 Statutes. 710), aud Juue 80,1864 (13 Statutes,
218).
TEN-FORTIES OF 1864.

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* Including reissues.

3 per cent..

Par

Indefinite

14, 000, 000 00

14, 000, 000 00

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T A B E E m..—STATEMENT of the OUTSTANDING PBINCIPAL of the PUBLIC DEBT, ^^c—Coutinued.
Length of
loan.

When redeemable.

Rate of interest.

OO

Price
at which Amount author- Amount issued. Amount outized.
standiug.
sold.

FIVE-TWENTIES OF 1865.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).

5 or 20 years

Nov. 1,1870 .

6 per cent.

Av. prem
of 2/^V^

Indefinite.

$206, 327, 250 00

$70,750 00

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CONSOLS OF 1865.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14Statutes, 31).

5 or 20 years. July 1,1870 .

^6 per cent... Av. prem
of 3xUV

Indefinite..

332, 998, 950 00

CONSOLS OF 1867.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).

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5 or 20 years

J u l y l , 1872.

6 per ceibt.

Av. prem, Indefiniteof Ix-CStT

379, 618, 000 00

962, 750 00

CONSOLS OF 1868.
Acts of March 3, 1865 (18 Statutes, 468), and April 12, 1866 (14 Statutes, 81).

5 or 20 years

July 1, 1873 -

6 per cent... Av. prem, Indefinite
of rvhi

42, 539, 350 00

273, 500 00

FIVE-PER-CENT. LOAN OF 1881.
The act of January 14, 1875 (18 Statutes, 396), authorizes the Secre. tary of the Treasury to use auy surplus revenues from time to time
in the Treasury not otherwise appropriated, and to issue, sell, dispose of, at not less than par, in coin, either of the description of
honds of the Uuited States described in the act of July 14, 1870 (16
Statutes, 272), to the extent necessary for the redemption of fractional currency in silver coins of the denominations of ten, twentyfive, and fifty cents of standard value.
The act of March 3, 1875 (18 Statutes, 466), directs the Secretary of
the Treasury to issue bonds of the character aud description set out
in the act of July 14,3870 (16 Statutes, 272), to James B. Eads or his
legal representatives in payment at par of the warrants of the Secretary of War for the constructionof jetties aud auxiliary works to
maintain a wide and deep channel between the South Pass of the
Mississippi River and the Gulf of Mexico,. unless Congress shaill
have previously provided for the payment of tke same by the necessary
 appropriation of money.



Indefinite..

On demand .

3 per cent..

Par.

$75, 000, 000 00 *85, 155, 000 00

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THREE-PER-CENT. CERTIFICATES.
Acts of March 2, 1867 (14 Statutes, 558), and July 25,1868 (15 Statutes,
183).

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5, 000 00

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The act of July 14, 3870 (16 Statutes, 272), authorizes the isswe of ) 10 years.
>
.$200,000,000 at 5 per centum, principal and interest payable in coin
of the present standard value, at the pleasure of the United States
. Governmeut, after teu years; these bonds to be exempt from the
payment of all taxes or duties of the United States, as wellas from
taxation iu any form by or uuder State, municipal, or local authority.
Bonds and coupons payable at the Treasury of the United States.
This act rot to authorize an increase of the bouded debt of the
United^ States. Bouds to be sold at not less thau par in coin, and the
pioceeds to be axDplied to tbo redemption of outstanding 5-20s, or to
, be exchanged for said 5-20s, par for par. Payment of these bonds,
when due, to be madtj in order of dates and numbers, beginning with
each class last dated aud numbered. Interest to cease at the end
of three mouths from notice of intention to redeem. Tbe act of January 20, 1871 (16 Statutes, 399), increases the amount of 5 percents
to $500,000,000, provided the total amount of bonds issued shall npt
exceed the amount originally authorized, aud authorizes the interest
ou any of these bonds to be paid quarterly.
The actsof December 17,1878 (18 Statutes, 1), authorized the issue of an
equal amouut of bonds ofthe loan of 1858, which the holders thereof
may, on or before February 1, 1874, elect to exchange for the bouds
of this loan.
FOUR-AND-ONE-PCALF-PER-CENT. LOAN OF 1891.
FUNDING.)

M a y l , 1881

5 x>er ceivt.

517, 994,150 00 ^ 1,171, 700 00

Par...

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(RE-

Tbe act of July 14, 1870 (16 Statutes, 272), authorizes the issue of
$300,000,000 at'4^ per centum, payable in coin of the present standard value, at the pleasure of the United States Government, after
fifteen years; these bouds to be exempt from the payment of all
taxes or duties ofthe Uuited States, as well as from.taxation in any
form by or uuder State, municipal, or local authority. Bonds and
coupons payable at the Treasury of the United States. This act not
to authorize au increase of the bonded debt of the United States.
Bonds to be sold at not less than par in coin, and the proceeds to be
applied to the redemptiou of outstanding 5-20s, or to be exchanged
for said 5-20s, par for par. Payment of these bonds, when due, to
be made in order of dates and numbers, beginning with each class
last dated and numbered. .Interest to cease at the end of three
months from notice of intention to redeem.

15 years

Sept. 1,1891 .

4^ per cent.

185, 000, 000 00 185, 000, 000 00

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$1,500,000,00000

FOUR-PER-CENT. LOAN OF 1907.




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(REFUNDING.)

The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of
.$1,000,000,000 at4 percentum, payablein coin of thepresent standard
value, at tbe pleasure of the Uuited States Government, after thirty
years; these bonds to be exerapt from tlie payment of all taxes or
duties of the United States, as well as frora taxation in any form by
or under State, municipal, or local authority. Bonds and coupons
pay.able at the T'reasury of the Uuited States. This act not to au-

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30 years.

July 1, 1907.

4 per cent..

P a r to
oue- half
percent,
premium.

708, 980, 800 00 708, 384, 300 00

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T A B E E m . S T A T E M E N T of tlie^OUTSTANDING PBINCIPAL of the PUBLIC DEBT, #c.—Coutinued.

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Length of When redeem- Rate of in- atPrice Amount authorwhich
Amount issued, Amount outloan.
able.
terest.
ized.
standing.
sold.

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thorize an increase of the bonded debt of the United States. Bonds
to be sold at not less than par ia coin, and the proceeds to be applied \
to the redemption of outstanding 5-20s, or to be exchanged for said
5-20s, par for par. Payment of these bonds, when due, to be made
in order of dates and numbers, beginning with each class last dated
and numbered. Interest to cease at the eud of three months from 1
notice of intention to redeem. See Refunding Certificates, page 36. |
FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891.-(RESUMP- I
TION).
'
The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary j 15 years
of the Treasury to use any surplus revenues from time to time in the I
Treasury not otherwise appropriated, and to issue, sell, dispose of, '
at not less than par, in coin, either of the description of bonds of
tlie United States described iu the act of July 14, 1870 (16 Statutes,
272), for the purpose of redeeming, on and after January 1, 1879, iu
coin, at the office of the assistant treasurer of tbe United States iu
New York, the Outstanding United States legal-tender notes when
presented in sums of not less than fifty dollars.

Sept. 1,1891... 4^ per cent.. P a r t o Indefinite.
one and
one - half
per cent
p remi
um.

$65, 000, 000 00

$65,000,000 00

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FOUR-PER-CENT. LOAN OP 1907.—(RESUMPTION).
The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any sui-plus revenues from time to time in the
Treasury not otherwise appropriated, and to issue, sell, dispose of,
at not less than par, iu coin, either of the description of bouds of
the United'States described in the act of July 14, 1870 (16 Statutes,
272), for the purpose of redeeming, on aud after Jauuary 1, 1879, in
coin, at the office of tbe assistant treasurer of the United States in
New York, tbe outstanding United States legal-tender notes when
presented in sums of not less than fifty dollars.

30 years.

July 1,1907 .

4 per cent .. Par

Indefinite.

30, 500, 000 00

80, 500, 000 00

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CERTIPICATES OF DEPOSIT.
The act of J u n e 8, 1872 (17 Statutes, 336), authorizes the deposit of
United Statesnotes without interest b.y banking associations in sums
not less than $10,000, and the issue of certificates therefor iu denominations of notless than $5,000; which certiflcates shall be payable
on deroand in United States notes at the place where the deposits
•were made. I t provides that the notes so deposited in the Treasury
shall not be counted as a part of the legal reserve, but that the certificates issued therefor may be held and counted by the national
banks as i3art of their legal reserve, and may be accepted in the




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Indefinite... On demand . . . None

I Par

No limit .

64, 780, 000 00

13, 320, 000 00

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settlement of clearing-house balances at the place, where the deposits therefor were made, and that the United States notes for
which such certificates were issued, or other United States notes of
like amount, shall be held as special deposits in the Treasury, and
used only for the redemption of such certificates.
SILVER. CERTIFICATES.
The act of February 28, 1878 (20 Statutes, 26, sec. 3), provides that any
holder of the coin authorized by this act may deposit the same with
the Treasurer or any assistaut treasurer of the United States in
sums not less thau ten dollars and receive therefor certificates of not
less than ten dollars each, corresponding with the deuominatious of
the United States uotes. The coin deposited for or representing the
certificates shall be retained iu the Treasury for the payment of the
same on demand. Said certificates sball be receivable'for customs,
taxes, and all public dues, and, when so received, may be reissued.
REFUNDING CERTIFICATES.
The act of February 26, 1879 (20 Statutes, 321), authorizes the Secretary of the Treasury to issue, iu exchange for lawful money of the
United States, certificates of deposit, of the denomination of teu
dollars, beariug interest at the rate of four per centum per aunum,
and convertible at any time, Avith accrued interest, into tbe four per
centum bonds described iu the refunding act; the money so received to be applied only to the payment of the bonds beariug interest at a rate not less than five per centum, in the mode prescribed
by sawd act.

-

•
i
Indefinite... On demaud .... Noue

• 1
Va.r

66, 096, 710 00

No liinit

Indefinite... Convertible in- 4 per cent-.. Par
° to 4 per cent,
bouds.

No limit

40, 012, 750 00

465, 0.50 00




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FUNDED LOAN OP 1881, CONTINUED AT THREE AND ONEH A L F PER CENT.
These bonds were issued in exchange for five per cent, bonds of the
funded loan of 1881, by mutual agreement between the Secretary
of the Treasury aud the holders, aud were made redeemable at the
pleasure of the government.

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Indefinite... At pleasure of 3^ per cent.. Par
thegovernra't.

401, 503, 900 00
1, 918, 812, 994 03

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TABEE

'N,—STATEMENT of 30-YEAB $ PEJ^ CENT. BONDS {interest payahle January and July) ISSUED^Jo the several P A C I F I C
BAILWAY COMPANIES under the acts of July 1,, 1862 (12 Statutes, 492), and July 2, 1864 (13 Statutes, 359).
9 <^ ^ B
S
^B

CO 52

.9 a Pi4|

Railway companies.
-ta ® •£> bD

5^
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S
On J a n u a r y 1, 1876:
CentralPacific
K a n s a s Pacific
U n i o n Pacific
:
C e n t r a l B r a n c h U n i o n Pacific
W e s t e r n Pacific
S i o u x City a n d P a c i i i c

$25, 88.5,120
6, 303, 000
I 27, 236, 532
1, 600, 000
1, 970, 560
I 1, 628, 320

.....'

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<1
00 $13, 027, 697 67
00
3,103, 893 09
00
11, 884, 324 65
00 .
781, 808 26
00 i
722, 380 14
682, 703 89
00

$776, 558 60 $11, 804, 251 27
3, 292, 983 09
189, 090 00
817, 095 36 12, 701, 420 01
48, 000 00
829, 808 26
59,116 80
781, 496 94
48, 849 60
731, 553 49

$1,191, 765 86 $10, 612, 485 41
1, 852, 318 25
1, 440, 664 84
8, 757, 704 36
3, 943, 715 65
785, 400 21
44, 408 05
772,129 94
9, 367 00
692, 547 53
. 39, 005 96

64, 623, 512 00

On J a n u a r y 1, 1877:
C e n t r a l Pacific
K a n s a s Pacific
U n i o n Pacific
C e n t r a l B r a n c h U n i o n Pacific
W e s t e r n Pacific
S i o u x C i t y a n d Pacific




:

28, 202, 807 70

1, 938, 705 36

80, 141, 513 06

6, 668, 927 36

23, 472, 585 70

i
' 25, 885,120 00
r 6, 303, 000 O
O
27, 236, 512 00
i 1, 600, 000 00
i 1, 970, 560 00
i 1, 628, 320 00

11, 804, 251 27
3, 292, 983 09
12, 701, 420 01
829, 808 26
781, 496 94
731, 558 49

776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60

12, 580, 804 87
3, 482, 073 09
13, 518, 515 37
877,808 26
840, 613 74
780, 403 09

1, 281, 213 76
1, 448, 327 39
4, 079, 704 77
44, 408 05
9, 367 00
39, 470 28

11, 349, 591 11
2, 033, 745 70
- 9, 438, 810 60
833, 400 21
831, 246 74
740, 932 81

64,623,512 00

O n J u l y 1, 1876:
C e u t r a l .Pacific
K a n s a s Pacific
U n i o n Pacific
C e n t r a l B r a n c h U n i o n Pacific
W e s t e r n Pacific
S i o u x C i t y a n d Pacific

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30,141, 513 06

1, 938, 705 ;

32, 080, 218 42

6, 852, 491 25

25, 227, 727 17

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-

:

| 25, 885,120 00
i 6, 303, 000 00
j 27, 236, 512 00
{ 1, 600, 000 00
.i
1, 970, 560 00
1, 628, 320 00
64, 623, 512 00

12, 580, 804 87
3, 482, 073 09
3.3, 518, 515 87
877, 808 26
840, 613 74
780,403 09

776, 553
189, 090
817, 095
48, 000
. 59,116
48, 849

32, 080, 218 42

1,938,705 86

60
00
36
00
80
60

13, 357, 358 47
3, 671,163 09
3.4, 335, 610 73
925, 808 26
899,730 54
829, 252 69

1, 268, 672 12
1, 515, 718 49
4,126, 871 52
44, 408 05
9, 367 00
39, 440 28

12, 088, 686 35
2,155, 444 60
10, 208, 739 21
881, 400 21
800, 363 54
789, 782 41

34, 018, 923 78

7,004,507.46

27, 014, 416 32

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Oil Juiy 1,1877
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific

25, 885,120 00 13, 357, 858 47
9, 303, 000 00 3, 671, 168 09
27, 268, 512 00 14, 335, 610 78
1, 600, 000 00
925, 808 26
1, 970, 500 00
899, 730 54
1, 628, 820 00
829, 252 69
94, 628, 512 00 34, 018, 923 78

On January 1,1878:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific

25, 885,120 00 14,133, 912 07
6 303, 000 00 3, 860, 253 09
,
27, 236, 512 00 15,152, 706 09
1, 600, 000 00
973, 808 26.
1, 970, 560 00
958, 847 34
1, 628, 320 00
878,102 29
64, 623, 512 00 35, 957, 629 14

On July 1,1878:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific




2, 065, 324 01
1, 531, 680 06
4, 787, 041 67
58,498-35
9, 367 00
62, 578 00

12, 068, g88 06
2, 328, 573 03
10, 365, 664 42
915, 309 91
949,480 34
815, 523 49

1, 938, 705 36 34, 957, 629 14

8, 514, 489 89

27, 443,139 25

14, 910, 465 67
4, 049, 343 09
15, 969, 801 45
1, 021, 808 26
1, 017, 964 14
926, 951 89

2,198, 960 71
1, 532, 450 07
5,134,103 84
62, 998 35
9, 367 00
68,409 65

12, 711, 504 96
2, 516, 993 02
10, 835, 697 61
958, 808 91
1, 008, 597 14
858, 542 24

37, 896, 334 50

9, 006,189 62

28, 890,144'88

15,687,039 27
4, 238, 433 09
16, 786, 896 81
1,069,808 26
1, 088, 080 94
975, 801 49

2, 343, 659 54
1, 532, 530 42
5, 852, 870 95
67, 498 35
9 367 00
.
75, 517 99

13, 343, 359 73
2, 705, 902 67
10, 934, 025 86
1, 002, 309 91
1, 067, 713 94
900, 283 50

"rt

1, 938, 705 36 39, 835, 039 86

9, 881, 444 25

29; 953, 595 61

fe

2, 516. 742 86
1, 744, 683 89
6,145, 214 86
71, 445 54
9, 367 00
83, 648 56

13, 946, 830 01
2, 682, 829 20
11, 458, 777 31
1, 046, 362 72
1,126, 830 74
941, 002 53

776, 553 60
189, 090 00
817, 095 36
49, 000 00
59,116 80
48, 849 60
1,938,705 36

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776, 553 00
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60

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25, 885,120 00 15, 687, 019 27
6, 303, 000 00 4, 238, 438 09
27, 236, 512 00 16, 786, 896 81
1, 600, 000 00 1, 069, 808 26
1, 970, 560 00 1, 077, 080 94
1, 628, 320 00
975, 801 49
64, 623, 512 00 39, 885, 039 86

On Julv 1,1879:
Central Pacific
Kansas Pacific
Union Pacific
,
Central Branch Union Pacific
Westem Pacific
Sioux City and Pacific

14,133, 912 07
8. 860, 253 09
15,152, 706 09
973, 808 26
958, 847 84
878,102 29

rt
25, 885,120 00 14, 910, 465 67
6, 303, 000 00 4, 049, 343 09
27, 236, 512 00 15, 969, 801 45
1, 600, 000 00 1,021,808 26
3,970,560 00
. 1, 017, 964 14
1, 628, 320 00
926, 951 89
64, 623, 512 00 87, 896, 334 50

On January 1,1879:
Central Pacific
Kansas Pacific
Union Pacific
(Central Branch Union Pacific
Western Pacific
Sioux City and Pacific

776, 553 00
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60

25, 885,120 00 16, 463, 572 87
6, 808, 000 00 4, 427, 523 09
27, 236, 512 00 17, 603. 992 17
1. 600, 000 00 1,117, 808 26
1, 970, 560 00 1,136,197 74
1, 628, 320 00
1, 024, 651 09
64, 628, 512 00

41, 773, 745 22

776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60

16, 463, 572 87
4, 427, 523 09
17, 603, 992 17
1,117, 808 26
1,136,397 74
1, 024, 651 09

1, 938, 705 36 41, 773, 745 22
776, 553 60
189, 090 00
817,095 36
48, 000 00
59,116 80
48, 849 60
1, 938,705 36

17, 240,126 47
4, 616, 613 09
18, 421, 087 53
1,165, 808 26
1,195, 314 54
1, 073, 500 69
43, 712, 450 58

10, 571,102 71
2,771,419 23
2, 324, 910 55
7, 325, 466 49
73,142 73
9, 367 00
91, 747 39
12, 596, 058 39

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81,202,642,51
14, 468, 707 24
2, 291, 702 54
11, 095, 621 04
1, 092, 665 53
1,185, 947 54
981,758 30

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31,116, 397 19

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T A B E E 'N.—STATEM'ENT of ZO-YEAB 6 PEB CENT. BONDS, #c.—Coutinued.
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On January 1, 1880:
Central Painfic
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific

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$25, 885,120 00 $17, 240,126 47
4, 616, 613 09
6, 303, 000 00
27, 236, 512 00 18, 421, 087 53
1,165, 808 26
1, 600, 000 00
1,195, 314 54
1,970,560 00
1,073,500 69
1, 628, 320 00

$776, 553 60 $18, 016, 680 07
4, 805, 708 09
189, 090 00
19, 238,182 89
817, 095 36
1, 213, 808 26
48, 000 00
1, 224.431 34
59,116 80
1,122, 350 29
48, 849 60

$3, 552,135 70
2, 370,109 88
7, 421, 734 97
73,142 73
9,367 00
93,983 91

$14, 464, 544 37
2, 435, 593 21
11, 816, 447 92
1,140, 665 58
1, 245, 064 34
1, 028, 366 38

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64, 623, 512 00

On January 1,1881:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific




1, 938, 705 36

45, 651,155 94

18, 520, 474 19

32,130, 681 75

25, 885,120 00
6, 303, 000 00
27, 236, 512 00
1, 600, 000 00
1, 970, 560 00
1, 628, 320 00

18, 016, 680 07
4, 805, 703 09
39,238,182 89
1,'213, 808 26
1, 254, 431 34
1,122, 350 29

776. 553 60
189, 090 00
817, 095 36
48,000 00
59,116 80
48, 849 60

18,793,233 67
4, 994, 793 09
20, 055, 278 25
1, 261, 808 26
1, 313, 548 14
1,171,199 89

8, 200, 889 64
2, 447, 397 28
7, 804, 484 37
47,621 69
9, 367 00
106, 032 57

15, 592, 844 03
2, .547, 395 81
12, 250, 798 88
3,214,186 57
1,304,181 14
1, 065,167 32

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64, 623, 512 00

On July 1,1880 :
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific

43, 712, 450 58

45, 6.51,155 94

1, 938, 705 36

47, 589, 861 30

18, 615, 292 55

88, 974, 568 75

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25, 885,120 00
6, 303, 000 00
27, 236, 512 00
1, 600, 000 00
1, 970, 560 00
1,628,820 00

18, 793, 233 67
4, 994, 793 09
20, 055, 278 25
1, 261, 808 26
1, 813, 548 14
1,171,199 89

776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60

19, 569, 787 27
5,183, 883 09
20, 872, 373 61
1, 309, 808 26
1, 372, 664 94
1, 220, 049 49

3, 358, 026 85
2, 502, 724 32
7. 992, 936 82
74,967 91
9, 367 00
114, 424 58

16, 211, 760 42
2, 681,158 77
12, 879, 436 79
1, 234, 840 35
1, 363, 297 94
1,105, 624 91

64, 623, 512 00

47, 589, 861 30

1, 938, 705 36

49, 528, 566 66

14, 052, 447. 48

35, 476,119 18 .

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On J u l y 1,1881:
C e n t r a l Pacific
.
K a n s a s Pacific
U n i o n Pacific
Central Branch Union Pacific
W e s t e r n Pacific
S i o u x C i t y a n d Pacific

25, 885,120
6, 808, 000
27, 236, 512
1,600,000
1, 970, 560
1, 628, 320

_

.
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....

On J u l y 1,1882:
C e n t r a l Pacific




27
09
61
26
94
49

. . .

49, 528, 566 66

25, 855,120
6, 303, 000
27, 236, 512
1, 600, 000
1, 970, 560
1, 628, 320

20,
5,
21,
1,
1,
1,

00
00
00
00
00
00

64, 623, 512 00

U n i o n Pacific
C e n t r a l B r a n c h U n i o n Pacific
VVestern Pacific
S i o u x C i t y a n d Pacific . .

19, 569, 787
5,383,883
20, 872, 873
1,309,808
1, 372, 664
1, 220, 049

64, 623„512 00

On J a n u a r y 1,1882 :
C e n t r a l Pacific
U n i o n Pacific
C e n t r a l B r a n c h U n i o n Pacific
V e s t e r n Pacific
V
..
.
S i o u x C i t y a n d Pacific

00
00
00
00
00
00

. . . . . . . . .

25, 885,120
6, 303, 000
27, 236, 512
1, 600, 000
1, 970, 560
1, 628, 820

00
00
00
00
00
00

64, 623, 512 00

346,
372,
689,
357,
431,
268,

340
973
468
808
781
899

87
09
97
26
74
09

51, 467, 272 02

21,122, 894
5, 562, 063
22, 506, 564
1, 495, 808
1,490,898
1, 317, 748

47
09
33
26
54
69

58, 405, 977 88

776, 553
189, 090
817, 095
48, 000
.59,316
48, 84.9

60
00
36
00
80
60

1, 938, 705 36

776, 533
189, 090
817, 095
48, 000
59,116
48, 849

60
00
36
00
80
60

1, 938, 705 36

776, 533
189,090
817, 095
48, 000
59,116
48, 849

60
00
36
00
80
60

1, 938, 705 36

30, 346, 340
5. 372, 973
2i; 689, 468
1, 357, 808
1, 431, 781
1. 268, 899

87
09
97
26
74
09

51, 467, 272 02

21,322,894
5, 562, 063
22, 506, 564
1, 405, 808
1, 490, 898
1, 317, 748

3, 496,
2, 565,
8,185,
93,
9,
^
124,

942
448
878
515
367
979

83
44
56
38
00
14

14, 426,126 85

47
09
33
26
54
69

3, 600, 920 51
2, 625, 289 51
8, 227, 294 70
109, 032 06
9, 367 00
135, 982 56

53, 405, 977 38

14, 707, 886 34

21, 899, 448
5, 751,153
23, 823, 659
1, 453, 808
1, 550, 015
1, 366, 598

07
09
69
26
34
29

55, 844, 682 74

3, 812, 411
2, 725, 458
8, 453, 537
124, 639
9, 367
95, 278

95
33
60
85
00
57

15, 220, 698 30

16, 849, 398
2, 807, 529
13, 553, 590
1, 264, 292
i, 422, 414
1 143 919

04
65
41
88
74
95

37, 041,145 67

17, 521, 978
2, 936, 773
14, 279, 269
1, 296, 776
1, 481, .531
1,181, 766

96
58
63
20
54
13

38, 698, 091 04

18, 087, 036
3, 025, 694
14, 870,122
1, 329,168
1 540 648
1 271 319

12
76
09
41
34
72

40,128, 989 44

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T A B J L E O.—STATEMENT showing the AMOUNT of NOTES, SILVEE CEBTIFICATES, and FBACTIONAL SILVEB COIN OUTSTANDI N G a t t h e CLOSE'of E A C H FISCAL YEAB from 1860 to 1882, inclusive.

i'e ^

State-bank
circulation.

Nationalb a n k circulation.

Demand
notes.

Legal-tender
notes.

One a n d t w o
year notes
bf 1863.

Compoundinterest
notes.

S i l v e r certificates.

Fractional
currency,
paper.

(See N o t e 3.) (See N o t e 3.)

Practional
currenc}^,
silver.

dJ

WP O

IIS

Total amount
in c u r r e n c y .

V a l u e of curr e n c y in gold.

(See N o t e 4.)
«

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I860. $207, 102, 477 00
1861.
202, 005, 767 00
1862
183, 792, 079 00
1863.
238, 677, 218 00|
1864.
179, 157, 717 001
142, 919, 638 00
1865.
1866.
19, 996, 163 00
1867.
4, 484, 112 00
1868.
3, 163, 771 00
1869.,
2, 558, 874 00
1870.
2, 222, 793 00
1871.,
l ,968, 058 00
'
1872.
1, 700, 935 00
294, 470 00
1873.
1, 009, 021 00
1874.,
1, 786, e44 00
1875.
658, 938 00
1876 ,
521, 611 00
1877426, 504 00
1878.,
352, 452 00
1879.,
299, 790 00|
1880.
242, 967 OOl
1881.
242, 967 00
1882.

235,
137,
479,
625,
762,
929,
766,
261,
664,
267,
981,
408,
998,
048,
514,
691,
505,
042,
742,

270
860
908
379
855
624
984
241
795
061
032
008
336
872
284
697
427
675
034

000 00 $96, 620, 000
019 75 297, 767,114
999 2511481, 178, 670
603 00|432, 687, 966
162 00 400, 619, 206
432 00 371, 783, 597
723 00 3.56, 000, 000
739 25 356, 000, 000
256 00 356, 000, 000
505 50 356, 000, 000
296 25 357, 500, 000
967 50 356, 000, 000
732 50 382, 000, 000
107 50 375, 771, 580
917 50 369, 772, 284
962 50 1359,764, 332
297 50 346, 681, 016
470 00 1346, 681, 016
975 00 346, 681, 016
535 00 346, 681, 016
681, 016
695 00

879,
471,
338,
454,
123,
55.5,
347,
248,
198,
167,
142,
127,
313,
104,
95,
90,
86,
82,
79,
74,

000,
756,
012,
394,
161,
871,
152,
768,
593,
479,
41.5,
367,
328,
296,
274,
259,
242,
230,
220,

000
080
140
480
810
410
910
500
520
400
210
390
760
630
920
090
590
250
960

001
00
00
00
00
00
CO
00
00
00
00
00;
001
00
00 $1, 462, 600
00 2, 466, 950
0012,374,270
00;51,166, 530
00 66, 096, 710

192,
894,
005,
070,
307,
626,
114,

OOl
00
00
00
00

582,
855,
799,
881,
129,
446,
403,
547,
842,
214,
105,
047,

456 00
877 25
828 76!
876 96|
523 521
951 75
637 36
684 48
874 561
835 27
365 441
295 67
424 19
595 391$10, 926, 938
137 34 33,185, 273
768.77* 39,155, 633
605 781 39, 360, 529
954 37 24,061,449
953 32 19, 974, 897
247 771 19,130. 639

$207,102, 477
202, 005, 767
333, 452, 079
649, 867, 282
833, 718, 984
983, 318, 685
891, 904, 685
826, 927, 1.53
720, 412, 602
693, 946, 056
700, 375, 899
717,875, 751
738, 570, 903
750, 062, 368
781,490. 916
773, 646, 728
00 749, 303, 473
OO' 731,379, 542
OOl 729, 215, 508
00 734, 801, 994
00 735, 522, 956
411 780, 584, 808
36 798, 296, 234

00
00
00
75
34
76'
96|
52
75
61
48
06
52
94
17
69
89
84
27'
78
37]
73j
13

1
1
1
1

,$288, 769, 500
76.61 497, 798, 338
38.7 822, 649, 246
7 0 . 4 692, 256, 354
66. Oi 588, 657, 092
71.7 592, 906, 769
70.1 505, 009, 234
73.51 510, 0.50, 351
85.
599, 521, 769
89. Ol .638, 909, 438
87.5 646, 249, 540
86.4 648, 053, 886
91. 0| 711,156, 733
87.2 674, 619, 947
89. 5 673,773, 937
94.7 694, 375, 246
99.4 725, 083, 924
00. 0 734, 801, 994
00.0 735, 522, 956
00. 0 780, 584, 808
00. 0 798, 296, 284

41
59
94
77
73
07
52
61
95
44
58
76
71
42
62
54
62
78
37
73
13

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N O T E 1.—The a m o u n t of S t a t e a n d n a t i o n a l - b a n k c i r c u i a t i o u is compiled from t h e r e p o r t s of t h e C o m p t r o l l e r of t h e C u r r e u c y a t t b e n e a r e s t d a t e s o b t a i n a b l e to t h e ond of
e a c h fiscal y e a r ; t h e o t h e r a m o u n t s a r e t a k e n from t h e official p r i n t e d r e p o r t s of tlie S e c r e t a r y of t h e T r e a s u r y .
*N0TE 2 . — E x c l u s i v e of $8,375,934, a m o u n t e s t i m a t e d a s l o s t or d e s t r o y e d , a c t J u n e 21,1879."
N O T E 3.—The o n e a n d t w o y e a r n o t e s of 1863, a n d t h e comi3ound-interest n o t e s , t h o u g h h a v i n g a l e g a l - t e n d e r q u a l i t y for t h e i r .face-values,''were, i n fact, i n t e r e s t - b e a r i n g
s e c u r i t i e s , p a y a b l e a t c e r t a i n t i m e s , as s t a t e d on t b e n o t e s . T h e y e n t e r e d i n t o c i r c u l a t i o n for b u t a'few d a y s , if at all, a n d s i n c e m a t u r i t y t h o s e p r e s e n t e d h a v e b e e n c o n v e r t e d
i n t o o t h e r i n t e r e s t - b e a r i n g b o n d s or p a i d for i n cash, i n t e r e s t i u c l u d e d .
N O T E 4 . — T h e a m o u n t of f r a c t i o n a l s i l v e r in circulation i n 1860,1861, a n d 1862 c a n n o t b e s t a t e d . T h e a m o u n t s s t a t e d lor 1876 a n d s u b s e q u e n t y e a r s a r e t h e a m o u n t s coined
a n d i s s u e d s i n c e J a n u a r y , 1876. T o t h e s e a m o u n t s s h o u l d b e a d d e d t h e a m o u n t of s i l v e r p r e v i o u s l y coined w h i c h h a s come i n t o c i r c u l a t i o n .




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TABIiE

^ . — S T A T E M E N T of UNITED STATES BONDS and other OBLIGATIONS B E C E I V E D and I S S U E D hy the OFFICE of the SECB E T A B Y of the TBEASUBY, from Novemher 1, 1881, to Octobe)' 31, 1882.

Description.
Loan of 1858, act of J u n e 14, 1858
Loan of Pebruary, 1861, act of Pebruary I , 1861
Oregon war debt, act of March 2, 1861
.
•
Loan of July and August, 1861, acts of July 37 and August 5, 1861
Pive-twenty bonds of 1862, act of Pebruary 25, 1862
Pacific Railroad bonds, acts of July 1, 1862, and July 2, 1864
Loan of 1863 (1881s), act of March 3, 3863
'
Gold certificates, act of March 3, 1863
Ten-forty bonds of 1864, act of March 3, 1864
Pive-twenty bonds of 1864, act of J u n e 30, 1864
Seven-thirty notes of 1864-'65, acts of June 30, 1864, and March 3, 1865.
Pive-twenty bonds of 1865, act of March 3, 1865
Consols of 1865, act of March 3, 1865
Consols of 1867, act of March 3, 1865
Consols of 1868, act of March 3, 1865
Punded loan of 1881, acts of J u l y 14, 1870, and .January 20, 1871
Punded loan of 1891, acts of July 14, 1870, and January 20, 1871
Punded loan of 1907, acts of July 14, 1870, and January 20, 1871
Certificates of deposit, act of June 8, 1872
3^ per cent, bonds, acts of Jul.y 17 and August 5, 1861
3^ per cent, bonds, act of March 3, 1863
3 | per cent, bonds, acts of Julv 14, 1870, and January 20, 1871
3 per ceut. bonds, act of July 12, 1882
Total.




Lssued.

Received for exReceived for
change a n d exchange into 3 Received for redemption.
transfer.
percent, bouds.
$3,000 00
97, 000 00
134, 950 00
1,926,850 00
5,100 00

, 210, 000 00

$4, 210, 000 00

417, 850 00
637, 380 00
236,150 00
8, 250 00
2, 850 00
6, 600 00
56, 500 00
363,150 00
117,100 00
6, 814, 450 00

Total,

$1, 000
97, 000
134, 950
850
1, 026,
5, 100
000
8, 420,
417, 850
637, 380
' 236,150
8,250
2,850
6,000
56, 500
363, 150
117. 100
450
6, 814,
72,189, 900
150
209, 816,
000
36, 475,
347,319, 600
200
78, 596,
050
458, 580,
500
259, 370,

00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00

36, 094, 950 00
104, 947, 950 00
18, 920, 000 00
18, 348, 400 00
17,243,100 00
106, 215, 750 00
259, 370, 500 00

36, 094, 950 00
104, 868, 200 00
18, 348. 400 00
17, 243,100 00
106, 215, 750 00

$13,231,6.50 00
246,138, 850 00

17, 555, 000 00
310,622,800 00
80, 878, 3 5 00
.0
9 700 00
,

565, 350, 650 00

286,980,400 00

259, 370, 500 00

168, 991, 030 00 1, 280, 692, 580 00

fe
rt
rt
O
fe
o
rt
H

d

Ul

rt
o
fe
rt
H
>
fe
Ki

O
rt
d
rt
(-3

fe
rt
f>
CQ

d
fe
Kl

OO

44

REPORT

OF T H E

SECRETARY

OF T H E

TREASURY.

T A B I . E q,.—BETUBNS, hij J U D G M E N T of the UNITED STATES COURT of
CLAIMS, and by act of CONGBESS, of PBOCEEDS of P B O P E B T Y S E I Z E D as
C A P T U k E D or'ABANDONED, under ihe act of March 12, 1863, P A I D from July 1,
1881, to June 30, 1882.
,
.

Date.

To whom imid.

Amount.

November 7,1881... W. (T. Daniels administrator of Micajah Jobnson
Warren Hall '
March 15 1882

p 698 94
1 125 61
3, 824 55

Total

T A I S I . E M . — B E C E I P T S and DISBUBSEMENTS by UNITED STATES ASSISTA N T TBEASUBERS during the fiscal year ended June 30, 1882.
BALTIMORE.
Balance Juue 30,1881

$3, 685,145 02
KECEU'TS.

On account
On account
OH. account
On account
On account
On accouut
On account
On account
On account
On accouut

of customs
of internal reveuue
of curreucy redemption
of semi-annual duty
of certificates, act June 8, 1872
of Post-Office"Departmeut
of transfers
of patent fees
1
of disbursing oflicers
of miscellaueous

$3,142. 582 61
431, 353 50
985, 599 00
114, 581 55
3,190, 000 00
400, 472 29
4, 347,136 46
260 00
2,168, 610 52
48, 694 85

\
•

14, 829, 290 78
18, 514, 435 80

DISBURSEMENTS.

On account of Treasury drafts
On account of Post-Office drafts
On account of disbursing accounts
On account of currency redemption
On account of interest
On account of transfers
•
oOn account of certificates of deposit, act June 8,1872

.

.-'..

2, 627, 893 74
279, 422 19
2, 588, 224 74
966, 099 00
992, 955 08
3, 340. 640 00
2, 665, 000 00

Balance June 30, 1882

33,460,234 75
5, 054, 201 05

BOSTON.
Balance Juue 30, 1883

$11, 614, 074 40
RECEIPTS.

On account
On account
On account
On account
On account
On account
On account
On account

of customs
•
of internal revenue
of certificates, act Juue 8,1872
of Post-Office Department
of transfers
of patent fees
of disbursing officers
of miscellaneous

,
'.

$26,3 82, 935 95
1, 238, 869 74
4, 240, 000 00
2, 340,473 82
4, 368, 306 62
8, 515 95
26,156, 531 16
1,701,729 83

G6, 2.37, 36§ 0'7
77, 851; 437 4?

DISBURSEMENTS.

On account of Treasury drafts
On account of Post-Office drafts
On account of disbursing accounts
On account of interest, checks and coupons
. On account of transfers
On account of certificates of deposit, act June 8, 1872
On account of silver dollars, fractional curreucy, and minor coins redeemed
.'
On account of miscellaneous
Balauce June 30, 1882




14, 475, 396 19
1, 797, 813 86
23, 753, 815 78
7, 843, 709 07
11, 591, 806 00
3, 085, 000 00
1,057,201 50
10, 770 56

^
^
63, 615, 512 96
14, 235, 924 5 1

REPORT OF THE SECRETARY OF THE TREASURY.

45

T A B I i E M.—BECEIPTS and DISBUBSEMENTS, cfc—Continued.
CHICAGO.
Balauce June 30,1881

>

$9,671,714 76
RECEIPTS.

On accouut of
On account of
On account of
On account of
On account of
On accountof
On account of
On account of
On account of
On accouut of

customs
internal revenue
sale of lauds
•
certificates, act J u n e 8, 1872
Post-Office Department
transfers
patent fees
disbursing officers
:
Secretary's account
raiscellaneous

$4, 670,188 06
4, 269,474 52
794, 357 21
1,180, 000 00
3, 667, 274 17
13,896,620 41
6, 535 50
10, 805, 419 59
13, 306 03
122, 428 82
:

38, 925, 604 31
48, 597, 319 ©7

DISBURSEMENTS.

On account of
# n account of
On account of
On aecount of
On account of
On account of
On account of

Treasury drafts
Post-Ofiice drafts
disbursing accounts
interest
transfers
certificates of deposit, act Juue 8, 1872
Secretary's account

9,711,104 04
2, 952, 723 79
10,161, 369 00 .
2, 083, 892 29
8, 486, 454 06
850, 000 00
10, 596 22
34, 206,139 40

Balance June 30, 1882

14,391,179 6T
CINCINNATI.

Balance Juue 30, 1881

:

$2,475,425 59
RECEIPTS. "
^

On accoimt
On accouut
•Qja aecount
<^ii account
On account
On accouut
On account
On account
'@n account
On accouut
On aecount
0n accouut

of
of
of
of
of
of
of
of
of
of
of
of

customs
internal revenue
fractional currency for redemption
fractional silver coins for redemption
minor coius for redemption
certificates, act June 8, 1872
Post-OfBce Department
transfers
:
patent fees
disbursing officers
.'
interest
miscellaueous

$1,134, 635 63
448, 665 85
465 00
582, 447 00
76, 581 00
2, 495, 000 00
1, 764, 826 89
9,116, 685 77
5,149 80
1,732, 818 17
1, 223, 451 19
148, 641 34
18, 722, 362 14
'

21,197, 787 73

DISBURSEMENTS.

•On account of
Ofi" account of
On accouut of
On accouut of
On account of
On account of
On account of
On accouut of
On account of

Treasury drafts
Post-Offi'ce drafts
disbursiug accounts
fractional silver coins red eemed
interest
miuor coins redeemed
transfers
certificates of deposit, act June 8, 1872
fractional currency redeemed

Balance June 30, 1882




,

:

1, 442,109 48
1, 414, 804 12
1, 581, 015 15
582, 447 00
1, 221, 451 19
76, 581 00
8,478,82182
2, 750, 000 00
465 00
:

17, 547, 694 76
3, 650, 092 97

46

REPORT OF THE SECRETARY OF THE TREASURY.
T A B t r E 1^,—BECEIPTS and DISBUBSEMENTS, c/c—Continuecl.
N E W ORLEANS.

Balance J u n e 30, 1881.:

;

$4, 905, 794 41
RECEIPTS.

@n account
On account
On account
On account
On account
On account
On account
On account

of customs
of internal revenue
of sale of lands
of Post-Office Department
of transfers
of patent fees
of disbursing officers
of miscellaneous

$3, 562, 551 95
1, 065,336 97
752, 766 96
1, 001, 788 24
18, 319, 396 44
820 00
5, 992, 563 91
861, 787 41

1

26, 556, 811 8S
81, 462, 606 2&

DISBURSEMENTS.

On account
On account
On account
On account
On account

of Treasury drafts
of Post-Office drafts
of disbui'sing accounts
of interest
of transfers

3, 215, 367 22
866, 472 69
6, 298, 436 00
323, 559 06
13, 494, 042 57

Balance June 30, 1882

24,197, 877 54
7, 264,728 75

N E W YORK.
Balance June 30, 1881

$88,141,719 57
RECEIPTS.

On account •f customs
On account of internal revenue
On account of certificates of deposit, act Jun© 8, 1872
On account of Post-Office Department
On account of transfers
On account of patent fees
On account of miscellaneous
On account of disbursing accounts
On account of assay office
,
On account of interest .accounts
'.
^

$157, 070, 594 05
2, 988, 939 66
2, 220, 000 00
7, 311, 857 92
200,116, 088 34
4, 847 40
38, 855, 968 06
312, 625, 050 41
32, 825, 047 08
44, 949, 598 87
:
798, 967, 991 2 >
9
887,109, 710 86

DISBURSEMENTS.

On account of Treasury drafts
On account of Post-Office di.afts
On account of disbursing accounts
On account of assay office
On account of interest accounts
On account of gold certificates
On account of certificates of deposit, act June 8,1872
On account of fractional currency redeemed
On account of United States bonds, account sinking-fund
Balance June 80, 1882




367,115,182 65
7, 810, 516 42
303, 453, 313 82
28, 855, 656 96
44, 949, 598 37
745, 800 00
2,160, 000 00
24, 000 00
83, 268,133 92
1

788, 382,-201 64
98,727,509 22

.

REPORT OF THE SECRETARY OF THE TREASURY.

47

T A B J L E WL.—BECEIPTS and DISBUBSEMENTS, ^-c—Continued.
PHILADELPHm.
Balanee June 30, 1881

$15, 582, 651 61
HECEIPTS.

Onaccountof
On account of
On account of
On account of
Oo account of
On account of
On account of
On account of
On account of
On account of

customs
internal revenue
fiactional silver coin for exchange
semi-annual dutv
certificates, act June 8, 1872
Post-Office Department
transfers
patent fees
disbursing officers
miscellaneous

$12, 233i 183 40
417,190 53
1,882, 920 00
544, 902 95
3, 390, 000 00
2,164, 998 66
9, 124, 2i)S, 10
4,752 15
12,791,439 3 9
802,454 74
_
43, 356,139 72

'

58, 888, 791 33
DlSBUHSEMBNTfl.

On
On
On
On
On
On
On

account
account
account
account
account
account
account

of
of
of
of
of
of
of

Treasury drafts.. .*
:
Post-Office drafts
disbursing accounts
fractional silver coin exchanged
interest
tran sfl'.rs
certificates of deposit, act June 8, 1872

9,14^, 022 87
1,817,396 07
12, 080, 071 96
1, 905,140 00
3, 489, 658 63
9,717,175 00
3, 440, 000 00

Balauce June 30, 1882

41, 592, 464 53
17, 296, 326 80

SAINT LOUIS.
Balance June>30, 1881

.$5, 232, 220 11
UBOEIPTe.

On account of
On account of
On account of
On aocount of
On account of
Onaccountof
On account of
On account of
On accouut of
On account of
On account of
On account of
On accouut of

customs
internal revenue
sale of lands
5 per cent, redemption
Treasurer, transfer account
'
certificates, act J u n e s , 1872
Post-Office Department
tran.sfers
patent fees
disbursiug officers
assay office, ordinary expense account
bullion account
miscellaueous

.-.

$2,657, 355 06
1,178, 575 76
179,393 97
854, 970 43
2, 571, 312 51
265,000 00
2,224, 834 53
14,782,932 39
4, 647 95
9,470, 054 01
6, 920 00
25, 000 00
355, 991 61

34, 576, 788 0|i'
39, 809,008 l a ,

DISBURSBMBSTS.

On accountof
On accountof
On account of
On account of
On account of
On account of
On account of
On account of
On account of
Om aooount of

Treasury drafts
Post-Office drafts
-.
disbursing accounts
assay-office, 01 dinary expense account
buUion account
Treasurer, transfer account
interest
transfers
certificates of deposit, act June 8, 1872
fractional ourrency redeemed

Balauce June 30, 1882




:..

9,388,279 06
2,360,768 21
9,220, 264 66
6, 4!)8 50
5, 972 81
3,504,940 41
737.197 19
5,135, 241 50
430, 000 00
375 00
_
30,589,543 34
9, 239, 464 79

48

REPORT

OF T H E .SECRETARY OF THE

TREASURY.

T A B L E M . — E E C E I P T S am,d DISBUBSEMENTS, c^c—Continued. .
SAN PRANCISCO.
B a l a n c e J u n e 30, 1881

-^$31, 402,, HT 49
RROEU'TS.

On
On
On
On
On
On
Ou
Ou
On
Ou
On

a c c o u n t of
a c c ( m n t of
a c c o u n t of
a c c o u n t of
acc(uint of
a c t o u n t of
accimii t o f
a c c o u n t (if
a c c o u n t of
a c c o u n t of
a c c o u n t of

customs
iu t e r n a l r e v e n u e
saleof lauds
repayments
s i l v e r cei'tificates for s t a n d a r d d o l l a r s
transfers, standard dollars
Post-Qffice . D e p a r t m e n t
tiansfers
i i a t e n t fees
disbursingofficers
miscellaneoms...''

$9,439, 995 91
4,159,102 02
329,582 67
236, 094 07
20, 000 00
1, -548, 500 00
910,81467
8,058,464 87
15, 795 10
12,112,524 65
1,129, 418 28

'.
-

37. 960, 802 24
69, 362, 819 7S
M S BURSEMENTS.

Oin a c c o u n t of
Ouacrountof
Ou a c c o u u t of
Ou a c c o u n t o f
O n a c c o u n t of

T r e a s u r y dra#i9
P o s t-O ffice d r a f t s
disbuising accouats
i n t e r e s t .tiansfers

:

9, 558, 766
653,069
12,475,491
704,115
4, 989, 427

43
11
16
67
67
28,380,870 04

B a l a n c e J u u e 30, 3882

40, 981, 949 69

* T h e r e s e r v e fund, a m o u n t m g t o $2,240,000, is i n c l u d e d i n t h i s a m o u u t .

T A B I . E ^o—STATE3IENT of UNITED STATES SECUBITIES, MUTILATED
in PBINTING, BKCEIVED bi/ the OFFICE of the SECBETABY of the TBEASUBY
for FINAL COUNT, EXAMINATION, and DESTBUCTION, during the fiscal year
ended June 'SO, 1882.
T i t l e of s e c u r i t y .

Total.

N a t i o n a l c u r r e n c y , series of 1875
..,
N o t e s , s e r i e s of 1880
:
S i l v e r certificates, series 1878
,
S i l v e r <ertitic:Ues, series of 1880
P i v e - p e r - c e n t . r e g i s t e r e d b o n d s , f u n d e d l o a n of 1881
P i v e p e r - c e n t , r e u i s i e r e d b o u d s , funded loan of 1881, c o n t i n u e d a t 3^ p e r c e h t
Si.x-per-cent. r e g i s t e r e d bonds contiinued a t 3^ p e r c e n t
"..
U n i s s u e d iiational c u r r e n c y (from C o m p t r o l l e r )

$5, 340, 620
1, 291, 344
28, 058, 000
467, 920
724, 250
4,110, 000
128, 250
720, 780

Aggregate destroyed

40, 841,164

T A 1 5 I . E To—STATEMENT. OF DISTINCTIVE P A P E B - S I L K - T H B E A D E D
F l B b B — B E C E I V E D a v d D E L I V E B E D hy the OFFICE of the SECBETABY of the
TBEASUBY from Novemher 1, 1881, to October 31, 1882.
N u r a b e r of N u m b e r of
sheets.
sheets.
R e c e i v e d fiom mannl'acturei"
P r i n t e d and d e l i v e r e d as n o t e s , b o n d s , c h e c k s , « &
Sc
I n p r o c e s s of p r i n t i n g
'.
P a r t l y i»riuted a u d m u t i l a t e d a n d r e t u r n e d for d e s t r u c t i o n .
B a l a u c e ou h a n d Ootobei' 31, 1882 '..




10, 371, 950
1, 692, 997
362, 050*
437, 897"
879, 505*
10,371, 959

49

REPORT OF THE SECRETARY OF THE TREASURY.

T A B I . E v . — S T A T E M E N T of B E D E E M E D UNITED STATES SECUBITIES
B E C E I V E D bl) the OFFICE of the SECBETABY of the TBEASUBY for FINAL
COUNT, EXAMINATION, and DESTBUCTION, duringthe fiscal year ended June
30, 1882.
Deuomiuati(
T i t l e of s e c u r i t y .
I's.

lO's.

U S. n o t e s , n e w i s s u e
$17,198 40
$12, 205 60
178, 027 60
U . S. u o t e s , s e r i e s 1869
312,110 40
192, 692 00
U . S. u o t e s , series 3 H74
128,166 00
1,411,496 60 2, 436, 897 40
U . S. n o t e s , s e r i e s 1875 . •
3, 398,141 60
3, .330, 440 40
U . S. notes', series 1878
:
:
U . S. u o t e s , series 1880
3,375,913^00 1, 870, 540 00
Demand notes
One-year u o t e s of 3863
T w o - y e a r u o t e s of 1863
Comxiound-interest u o t e s of 1863
T w o - y e a r c o u p o n n o t e s , 1863
C o i n p o u n d - i n t e r e s t n o t e s of 1864
S i l v e r certificates, series 1878.
Silver certificates, series 1880
R e f u u d i n g certificates
N a t i o n a l c u r r e u c y , n o t e s of " f a i l e d " a n d
37,170 50 i
13,415 00
'' l i q u i d a t i u g " b a n k s
719,237 00 I 532,691 00
Natioual curreucy, redeemed aud retired.
Totals .

9,10,6, 739 50 ' 8 , 639, 603 00 I

.$217,441 00
2, 287, 604 00

$381, 930 00
3, 818, 594 00

6, 235, 093
6,-383,262
1, 385,138
240

2, 579, 327
3, 336, 955
768, 815
260
180

00
00
00
00

00
00
00
00
00

80 00
. 2,130
515. 890
2, 845, 420
317, 290

0.0
00
00
CO

960,417 00
28, 928, 308 00

471,218 00
23, 353, 008 00

46, 395, 333 00

38,391,097 00

Denominations.
T i t l e of s e c u r i t y .
50's.
U . S. u o t e s , n e w i s s u e
U . vS. n o t e s , s e r i e s 1869
-....
XJ. S. n o t e s , s e r i e s 1874
U . S. n o t e s , s e r i e s 1875
U . S. n o t e s , series 1878
U . S. n o t e s , s e i i e s 1880
Deraand notes ...'.:
One-year n o t e s of 1863
TAVO-year n o t e s of 1863 . . :
C o m p o u n d - i n t e r e s t n o t e s of 3,863...
T w o - y e a r c o u p o n n o t e s , 1868
C o r a p o u n d - i n t e r e s t n o t e s of 1 8 6 4 . . .
Silver certificates, s e r i e s 1878
Silver certificates, series 1880
R e f u n d i n g certificates
N a t i o u a l c u r r e n c y , n o t e s of " f a i l e d ' and
'' l i q u i d a t i u g " b a n k s
Natioual currency, redeemed and retired.

$389, 492 00 I
3, 225, 334 00
2,157, 228 00
3, 522, 072 00

500's.

$72, 900 00
$47, 750 00
520, 595 00
920,SOO 00
1, 329. 645 00
168, 885 00 1, 041, 080 00
644, 265 00
970,790 00

340 00
340 00

200 00
100 00
50 00

3, 060 00
521, 080 00
1, 720, 780 00

100 00
300 00
100 00
200 00
2,100 00
710,200 00 I
98, 400 00 •

3, 600 00
532,400 00
65, 650 00

$54, . 0 00
50
43. 500 00
479, 500 00
585, 000 00
281.500 00

612,000 00

85,700 00
99, 300 00 '
3,000 00
4, 247, 025 00 5, 891, 400 00 I 220, 000 00

24, 450, 335 00

Totals

254, 218 00
12, 655, 791 00

7, 645, 865 00

2, 279, OOO 00

Denominations.
Total.

Title of securitv.
1,000's

U . S. n o t e s , n e w i s s u e
U . S. n o t e s , s e r i e s 1869
U . S. n o t e s , s e r i e s 3874
U . S. n o t e s , series 3 875
U . S. notes, series 1878
U . S. n o t e s , s e r i e s 1880
Demaud uotes
O n e - y e a r n o t e s of 1863
'
T w o - y e a r n o t e s of 1863
C o m p o u n d - i n t e r e s t n o t e s of 1863 .
T w o - y e a r c o u p o n n o t e s , 1863
C o m p o u n d - i n t e r e s t n o t e s of 1864.
Silver certificates, series 3878
Silver certificates, s e r i e s 1880
R e f u n d i n g certificates

4F




5,000's.

10,000's.

$82, 000 00
786, 000 00
321, 000 00 $5, 030, 000 00

1, 000 00
1, 748, 000 00

$12, 990, 000 00

275, 417
892, 565
130,003
01.5, C07
200, 426
400, 406
840
820
400
230
1, 200
31,490
039, 570
730. 250
3.17, 290

00
00
00
00
00
00
00
00
00
00
00 00
00
00
00

50

REPORT OF THE SECRETARY

OF T H E

TREASURY.

T A B I ^ E JJ.—STATEMENT of B E D E E M E D UNITED STATES SECUBITIES,
ij-G.—Contiaued.
Denominations.
•

Total.

T i t l e of s e c u r i t y .
5,000's.

1,OOO's.
N a t i o n a l c u r r e n c y , n o t e s of " f a i l e d " a n d
" liquida,tiug " b a n k s
Na.tional c u r r e n c y , r e d e e m e d a n d r e t i r e d

10,000's.

$1, 904, 468 50
76,707,260 00

$160,666 p6

- - - 3, 098, 000 00 $5, 030, 000 00

Totals

$12, 990, 000 00

1

R e d e e m e d i n t e r n a l - r e v e n u e stan ips

1 772 624 lOh

,
R e d e e m e d U n i t e d S t a t e s fract i o n a l c u r r e n c y r e c e i v e d for
destruction.

Pirst issue
Second i s s u e
Third issue
P o u r t h issue
P o u r t h issue, second series
P o u r t h issue, t h i r d series
Pifth issue
Totals

-

Denomiuations.
3c

5c.

$27 i 2

$55 26
76 05
85 82*

.*

156.

10c.
$103
112
466
2,. 571

96
40
03
31 '$930 16

1
7 963 37 j . .

50c.

25c.
$188
202
837
4, 521

28
45
03
98-

.!20 066 53

$348 60
252 10
1, 258 30 .
567 05
3, 210 50'
5, 026 00
9 K8fi .'S.^

10
00
00
50
50
00
45

27 12; 3 66 83 11 217 07 ; 930 16 125. 816 9.7 I20. 549'lfl

A g g r e g a t e of r e d e e m e d U n i t e d S t a t e s s e c u r i t i e s r e c e i v e d for d e s t r u c t i o n




696
643
2, 624
8, 590
3,210
5, 026
37, 916

169, 665, 573 75^

"©"

APPEISTDIX,




51

#




APPENDIX.-

REPORT ON THE SILVER-PROFIT FUND.

^m\r YoRiv, A^yril 28, 1882.
S I R : 1 have the honor to .report that, pursuant to your instructions
of the 7th instant, I have made an examination of the '^ silver profitfund account/^ of the several 'coinage mints, and herewith present
statements of that accouut; also statements of the '' silver-bullion'^ and
*^silver-coinage" accounts for the fiscal years5 1879, 1880, and 1881. The
accompanying statements are numbered froni 1 to 13, inclusive. .As
will be seen by these accounts, the total amount placed to the credit of
the silver-profit fund during the period' covered by this investigation
was $10,081,49(3.31, which has been disposed of as follows, viz :
Beposited in the Treasury of the United States $9, 776,020 24
.Expenses of distribntion and allowances for wastage
by operati\'e officers
305,476 07
10,081,496 31
The amount as given in a report lately published was $10,181,496.31^
showing a difference of $100,000, which is accounted for as follows, vis :
On July 1, 1878, the sil ver-profit fnnd of the San Francisco Mint
showed a credit balance of $137,182.25, but the records of the Treasury
Department show that $100,000 of this balanee had been deposited by
order of the Secretary of the Treasury, on June 28, 1878, with the
Treasurer of the United States at Washington, D. C. Noticeof this
transaction did not reach San Francisco until the third quarter of 1878,
and in the absence of'Such notice, the^Superintendent of the Mint had
no authority to take credit for said deposit. Hence his balance of
$137,182.25 was a nominal balance, the actual amount being $37,182.25.
In order that the whole transaction may be shown in the consolidated
statement of the silver-profit fund, the nominal balance has been
brought forward as on hand at San Francisco July 1,1878, and the deposit of $ 100,000 made June 26, 1878, has been deducted to show the
actual balance on hand, viz, $37,182.25. The warrant by which the
$100,000. was covered into the Treasury having been taken up in the
statement as a credit, a corresponding deduction has been made upon
the credit side of the account. In other words, a counter entry of
$100,000 has been made, which reduces the total to $10,081,496.25, this
being the correct amount of the profit at the four coinage mints from
June 30, 1878, to July 1, 1881.
The difiiculty of calculating the profits on the coinage of silver in
any other way than by taking the average cost of the bullion for a given
period is shown by the following facts, viz:
The act of February 28, 1878, authorizing the coinage of the standard silver dollar, directed the Secretary of the Treasury to'purchase
silver bullion at the market price, not less than $2,000,000—nor more




53

Q

54

REPORT OF THE SECRETARY OF THE TREASURY.

than $4,000,000—worth per month, aud cause the same to be coined as
fast as purchased into silver dollars, and that any gain or seigniorage
arising from this coinage should be accounted for and paid into the
Treasury as provided by the law relating to the subsidiary coinage.
(Section 3528 Eevised Statutes.)
Silver for this purpose is obtained by weekly purchases made by a
Commission, consisting of the Assistant Secretary ofthe Treasury, the
Treasurer of the United States, and the Director of the Mint, of lots of
not less than 10,000 ounces, offers being made by telegraph every Thursdayl The silver so purchased is delivered to the mint designated, the
Superintendent receiving and paying for the same, charging himself
with the amount receivecl in standard ounces. In addition tq this, the
Superintendents of the Mints have authority from, the Secretary to purchase lots of less than 10,000 ounces when offered at prices fixed from
day to day or from week to week by the Director. Silver is also obtained for this puri:)ose by the purchase, by the Superintendents, of the
silver contained in deposits of gold bullion, by the return of surplns silver bullion by the operative officers, by the remelting of coins, by the
paj^ment of the Government charges on deposits of silver bullion for
bars, in bullion, and, finally, from the sweepings of the fioors of the deposit-melting rooms and the scrapings ofthe crucibles.
The law allows depositors to deposit silver bullion in the niint to be
made into bars. The charges iinposed for the operations are collected
in bullion, thereby adding to the stock of silver which can be used in
the coinage of the silver dollars.
^
The sources from which silver to be used in coiriage may be obtained
may be summarized as follows:
Purchases by the Silver Commission.
Purcliases by Superintendents (less than 10,000 ounces).
XDurchases of the silver contained in deposits of gold bullion;
Payment of mint charges in silver bullion.
Surplus bullion returned by operative officers.
Silver bullion recovered from deposit-melting room.
Coins deposited by the Assistant Treasurer for recoinage.
The difference between thecostof the silver thus obtained aud the
^ face value of the coins which it will make, is the profit to the Government which the law authorizes to be credited to a fund called ^' Silver, 13rofit fund." These profits can be used by law for the following imrposes viz:
^
For expenses of distributing silver dollars, for payment of silver
wasted in coinage and the preparation of ingots, and for payment of
loss on sweeps sold.
From ,the variety bf sonrces aud the different prices at which this
bullion is obtained, it will be seen that the material of which a single
dollar is composed ina}^ have been acquired at several different rates.
I t is impossible to follow a single deposit of bullioh through the ,various manipulations it undergoes from the time it is received at the mint
until its coinage, and accurately determine the profit on that particular
deposit, as no one deposit is separately manipulated, it having been
found by experience to be more economical to mix new bullion with
that which has been previously melted than to treat it separately.
Section 3506 of the Kevised Statutes provides that the amount re. maining in the silver-profit fund, after paying the wastage and expenses
. of distributing the coins, s h a l l b e from time to time covered into the
Treasury. The wording of the last clause is: '' The balance to the




REPORT OF. THE SECRETARY OF THE TREASURY.

.55

credit of this fund shall be from time to time, and at least twice a year,
paid into the Treasury of the United States. "
.
The regulations governing the mint service, approved by the Secretary of the Treasury, provide that ^ all profits, gains, and charges, to^
gether with the funds arising from the sale of by-products and old m'ate-.
rials, must be covered quarterly into the Treasury ofthe United States,
and no portion th.ereof used for the payment of salaries or ordinary expenses." The practice has been to cover into the Treasury profits on
the coinage of silver at such times and in such amounts as best suited
the general business of the mints and the Department. The accounts
show the amounts covered into the Treasury by transfers from the
^^silver profit-fund account" to the ^'bullion-fund account," and the
coin does not leave the vaults of the mint.
When a sufficient amount of profits have accumulated at any mint,
in the judgment of the Director, he addresses a letter to the Secretary
of the Treasury requesting that such amount be deposited and transferred to the Superintendent's bullion fund, and the Seeretary directs
the Treasurer to make a deposit in the name of the Superintendent and
issue at the same time a transfer order charging it to his bullion fund.
It has never been held by the Director of the Mint that the exact
balance at the close of the fiscal year should be at that time covered
into the Treasury. This, in,the judgment of the Director, would notcbe
practicable, for the reason that the expenses of distributing the coins
are being incurred daily, and it is necessary to keep a portion of the
profits on hand to pay this expense, as well as to pay the loss o,n the
silver in sweeps sold, and the operative officers' silver wastage. The
Sui^erintendent is charged with the profits, whether in the silver-profit
account or after transfer to the bullion fund.
The bullion accounts of the mints, which are very elaborate and
voluminous reports, do not reach the office of the Director for some
two months after the close of the qnarter for which they are rendered,
and it is thought desirable to examine the accounts and check the payments from the silver-profit fund in order to verify the balance of silver
profits on hand before ordering the full amount to be covered into the
Treasury. Should an amount be covered into the Treasury by error, it
cannot be withdrawn except by an act of Congress.
^ Prior to the 1st of January, 1881, the profits on the coinage of. silver
'
were declared on the silver purchased, in accordance with the regulations of 1874, approved by the Secretary of the Treasury, page' 13,
which reads: ' ' I t is directed, therefore, that on all silver purchased or
parted, a profit shall be credited at the end of each quarter, equal to
the difference between the rate of purchase and iswsue." In accordance
with these regulations the silver bullion purchased was charged to the
Superintendent at its cost. He was also charged with the difference
between the cost of the bullion and%ie face value of the standard silver
dollars it would make. This regulation had for its object the keeping
of the accounts at one unit of value. During the thre.e fiscal years
1879, 1880, and 1881, there were coined at the Philadelphia mint $21,081.75 subsidiary silver coin, and the additional profit arising from the
difference in weight between two half dollars and a standard dollar was
credited to the silver-profit fund as an aidditional profit.
IsTo subsidiary silver was coined at any other coinage mint during the
three fiscal years under consideration.
From the facts ascertained during this, examination at the Bureau
of the Mint and at the mint in Philadelphia, where I witnessed the
actual workings of the operative officers, I am of opinion that itisim


56

REPORT OF THE SECRETARY OF'THE TREASUIiY.

possible to divert an}'of the funds belonging to the silver-profit fund
account from their proper channel,, except through collusion between the
Superintendent and the several Officers of each mint, for the following
reasons, viz: First. The Superintendent of each mint is charged with
the silver bullion pnrchased for coinage by weiglit in standard ounces,
as determined from the fineness reported by the assayer, and he must
account for the numlyer of ounces delivered to him. Second. This bullion he delivers by iveight to the melter and refiner to be made into
ingots, and receives back hy iveight the ingots to be made into coin,
which ingots are in turn delivered to the coiner, the coiner returning
coin and bullion in clippings, &c. Third. Eeceipts for iceight in
standard ounces pass for all tliese transactions. These receipts accompany the bullion accounts as vouchers, and there is no way that the
Superintendent can obtain a credit for any of this bullion, except in
the manner Stated. He must account for the numher of ounces of bullion
delivered to him, by making it into com, by.the icastage of the operative officers ill their business and the amount sold insioeeps.
On the 30th of June ofeach year since the organization ofthe office
of Director of the Mint, the coin and bullion iu the Superintendents'
. possession havebeen weighed by representatives of the Departmenb. for
the pnrpose of ascertaining whethep^the officers had in their possession
the balances called for by their books and accounts; and these accounts
have been certified and allow^ed by the First Auditor and the First
Comptroller, and the bullion and coin actually iveighed by examiners
designated by the Director for that purpose. From the facts ascertained by the examination of this account for the
l)eriod under consideration, I am of the opinion that the silver-profit
fund has been properly accounted for.
I was greatly assisted in making up these accounts by Mr. Thomas
Eathbone, of the Second Auditor's Office. On my return, I made an
examination of the books and accounts of the Philadelphia mint, and
found them to agree in every particular with the accounts of that instition, as xirepared by Mr. Eaithbone and myself froip the quarterly accounts on file in the Department.
Very respectfully,
WILLIAM SHEEEE.
Hon.

C H A R L E S J. FOLGTER,

Secretary of the Treasury.




STATEMENTS.

No. 1.—SIL VEB-BULLION ACCOUNT from July 1, 1878, to June 30, 1881.
DK.

Standard
ounces.
1-878.
tTiily 1. T o
To
To
To

CK.

T H E M I N T OF T H E U N I T E D STATES AT P H I L A D E L P H I A , in accoimt with T H E U N I T E D STATES.

b a l a n c e ou tiand
bullion p u r c h a s e d
bullion p a r t e d
bullion r e c e i v e d for c b a r g e s a n d gains. . .

2, 634,
29, 996,
54,
4,

849. 37
925. 65
630. 62
731. 96

. Cost.

$2, 872, 704
30, 715, 928
54, 827
5, 426

Standard
, ounces.

.

B y b u l l i o n t r a n s f e r r e d to t h e M i n t a t Ne^v
Orieaus
B y w a s t a g e b y o p e r a t i v e officers
B y b u l l i o n c o n t a i n e d i n s w e e p s sold

86
89
21
30

32, 691,137. 60

83, 648, 887 26

1, 215, 745. 99

I l l , 196. 02
9, 097. 83
36,102.14
31,318,995.62

o

Cost.

$112,187 07
10,108 96
41, 507 90
32, 248, 751 25

O

1,236,382 08

.1881. •

'

.

.

1, 215, 745. 99

1, 236, 332 08

32, 691,137. 60

.1.881.
July
1. T o balance* b r o u g h t d o w n

83, 648, 887 26

O

•^The report of the officer detailed to make tbe annual examination of the Philadelphia Mint shows that this balance was actually on hand at the close of the fiscal year 1881.

No. 2.—SILVEB-C01NAGE

ACCOUNT from July 1, 1878, to June 30, 1881.

o
pi

DK.

T H E M I N T OF T H E U N I T E D STATES AT P H I L A D E L P H I A , in acconnt w i t h T H E U N I T E D STATES.

T o p r o c e e d s of 31,318,995.62 o u n c e s of s i l v e r coined i n t o —
S t a n d a r d silve-r d o l l a r s
Subsidiary silver
,




'

o
$36, 424, 205 00
21, 081 75
36, 445, 286 75

1

.

*

B y cost of c o i n a g e a s p e r " s i l v e r - b u l l i o n a c c o u n t "
B y profit on coinage c a r r i e d t o ' ' s i l v e r i^rotit-fund a c c o u n t "

CK.

$22,248,751 25
4,196, 535 50

o

36, 445, 286 75

P3
Ul

No. ^.—SILVER P B O F I T - F U N D ACCOUNT from July 1, 1878, to June 30, 1881.
DK.

O)

T H E M I N T O F T H E U N I T E D STATES AT P H I L A D E L P H I A , , i n accouiit w i t h T H E U N I T E D STATES.

1878.
July 1. To balance on hand
To surplus bullion taken up and accounted for as profit . .
To profit on coinage, as per "silver-coinage a c c o u n t " - . . ' . . . . .

$285, 892 84
659 93
4,196, 535 50

1881.
June 3(

CK.

By expenses of distribution
$102, 328 31
By loss on sweeps sold
12, 746 91
By wastage by operative officers
10,108 96
By loss on recoinages
48 86
By aggregate amount cleposited in the Treasury and covered in,
as per warrants on file in the Register's office
' . 4, 026, 556 61
By balance carried down

331, 298 62

4, 483, 088 27

1881.
July 1. To balance.brouglit down

o
H
O

4, 483, 088 27

*831,298 62

_®L
'' This balance was deposited in the Treasury and covered in by warrants !N"o. 1703, 3d quarter, 1881, and No. 1849, 4th quarter, 1881.

Ul

W

o

PO
No. 4.—SILVEB-BULLION ACCOUNT from January 1,~1S79, to June 30, 1881.
DR.

T H E M I N T O F T H E U N I T E D STATES AT N E W OKLEANS, in account with T H E U N I T E D STATES.

CK.

o
standard
ounces.

1

Standard
ounces.

. ^^„,
^^«*-

Cost.
H

i
To bullion n u r c h ased
I'o bullion received for c h a r g e s , a n d g a i n s . .
T o bullion r e c e i v e d from t h e M i n t a t P h i l a delphia
T o bullion received from t h e a s s a y office a t

1881.
J u l v 1 T o bnlriuc-e''^ broiif''bt d o w n

7,'545, 750. 63
$7, 728, 663 34
1, 870. 45 i • 1, 870 45
1, 856. 98
2,133 02
111, 196. 02

1

2, 756, 305. 22 I

By w a s t a g e b y o p e r a t i v e officers
By bnllion'cousuraed in coinag'e

• 112,187 07
1881.
2, 880, 596 41 J u n e 30. B y bnlance carried down

10,416,979.80

10.725,450 29

365, 076. 24

...4, 090. 57
- • 10, 047, 812. 49

$4, 522 31
10, 348, 984 32

365, 076. 24

371, 943 66

10,416,979.30

10, 725, 450 29

371,943 66

*The report of the officer detailed to make the annual exaraination of the Mint at N'ew Orleans shows t h a t this balance was actually on hand at the close of the fiscal,
year 1881.




w

.
DK.

No. t>.~SlLVEB-COINAGE- ACCOUNT from Jamiary 1, 1879, to June 30, 1881..

T H E M I N T OF T H E U N I T E D STATES AT N E W OKLEANS, in account w i t h T H E U N I T E D STATES.

To nroceeds of 10,047,812.49 ounces of silver coined into standard silver
dollars of 112.5 grains each
$11, 692, 000 00

By cost of coinage, as per '' silver-bullion account"
By xirofit on coinage, carried to "silver profit-fund account"

CK.
$10, 348, 984 82
• 1, 348, 015 68
11, 692, 000 00

11, 692, 000 00

o

No. 6.—SILVEB P B O F I T - F U N D ACCOUNT from January 1, 1879, to June 30, 1881.

O'
•

DK.

T H E M I N T OF T H E U N I T E D STATES AT NEAV OKLEANS, in account with T H E U N I T E D STATES.

^

CK

W
To profits on coinage, as per " silver-coinage account"

$1, 343, 015 68
1,343,015 68

1881.
July 1. To balance brought down.




*202,115 59

By expenses of distribution
By wastage by operative officeis
:..
By aggregate'amount deposited in the Treasury and covered
' in, as per warrants on file in the Register's office
1881.
J u n e 30. By balance carried down.

$16, 912 69
4, 522 31

Ul

1,119, 465 09

O

202,115 59
1,343,015 68

*This balance was deposited in the Treasury, and covered in by warrant ISTo. 1848, 4th quarter, 1881:

W
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pD

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a
PO

•

No. K.—SILVEB B U L L I O N ACCOUNT from July 1, 1878, to June 30, 1881.
DR.

O

T H E M I N T OF T H E U N I T E D STATES AT CARSON, in account w i t h T H E U N I T E D STATES.
St^dard
ounces.

1878.
J u l y • 1 T o balance on hand
Xo b u l l i o n p u r c h a s e d
.'^. .
To bullion parted
T o b u l l i o n r e c e i v e d for c h a r g e s a n d g a i n s . . .
T o b u l l i o n r e c e i v e d from t h e M i n t a t S a n
Francisco

Co.st.

119, 445. 94
2, 041, 208. 65
17, 816. 73
177.72

$2, 091, 829 01
17,497 96
206 81

333, 388. 83

Standard
ounces.

'
B v wastao'e b v o n e r a t i v e officers
B y bullion c o n s u m e d i n c o i n a g e
B y bullion c o n s u m e d i n coina""e

Cost.

346, 500 00

2, 511,482. 87

CR.

2, 455; 583 78

282,957.47

$2,127 54
2,167, 370 47

O

282, 957. 47

286, 035 77

H
O

2, 511, 482. 37
1881
July
1. T o b a l a u c e t b r o u g h t d o w n .

1881.
J u n e 30. B y b a l a n c e c a r r i e d d o w n

' . 1,884.27
2,107,194. 69
119, 445. 94

2, 455, 533 78

(*)

* The records of the Treasury Department show that the profits on the coinage of the 119,445.94 ouuces of silver bullion on hand July 1, 1878, were adjusted prior to that
date in accordance with regulation^ then in force.
t The report of the officer detailed to make the annual examination of the Mint at Carson shows that this balance was actuall}'^ on hand at the close of the fiscal year 1881.




H

286, 035 77

Q

H

>

Pi
O

PO

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Ul
d
po

No. 8.—SILVEB-C0INAGE ACCOUNT from July f, 1878, to June 30, 1881.
DR:

T H E M I N T OF 'JMIE U N I T E D STATES AT CAKSON, in account with T H E U N I T E D STATES.

To proceeds of 2.107,194.69 ounces coined into standard silvier dollars
of 112.5 grains each
$2, 452, 008 36

By cost of coinage, as per '' silver-bullion account"
B.y profits on coinage, carried to " silver iirofit-funt^account"

2, 452, 008 36

CK.
$2,167, 370 47
284, 637 89
2, 452, 008 36

No. 9.—SILVEB PBDFIT-FUND ACCOUNT from July 1, 1878, to June 30, 1881.
DR.

T H E M I N T OF THE U N I T E D STATKS AT CARSON, in account w i t h T H E U N I T E D STATES.

$1, 6.50 38
284, 637 89
3, 900 37

By expenses of distribution
:
'.
By loss on sweeps sold.
By Avastage by operative officers
By aggregate araount deposited in the Treasur.y and covered
in, as per Avarrants on file in the Regi.stei''s office
1891.
June 30. By balance carried dow:n.

1881.
Jul.y 1. To balance brought down .




290,188 64

O
Pi
H
O

CK.

—1878.
Jul.y 1. To balance on hand
To profit on coinage, as per "coinage accouut"
To adjiistraents on trade dollars and subsidiary silver

Pi

$19,130 54
4, 243 12
2, 065 19

250, 000 00

H

W
m
o
Pi
K

14, 749 79

290,188 64

*]4, 749 79
*This balance was deposited in tlie Treasury, and covered in by warrant No. 1847, 4th quarter, 1881.

Pi
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at)

a:)

No. 10.—SILVEB-BULLION ACCOUNTyrom J u l y l , 1878, to June 30, 1881.
T H E M I N T OF T H E U N I T E D STATES AT SAN FRANCISCO, in account with T H E U N I T E D STATES.

DR.

Standard
ounces.
1878.
Jul.y 1. T o b a l a n c e
T o bullion
To bullion
T o bullion

IN3

CR.

Standard
ounces.

Cost.

Pi
tei

Cost.

o
po

on h a n d
purchased
pai'ted
l e c e i v e d for c h a r g e s a n d g a i n s

685,
28,-332,
214,
29,

777. 38
907. 05
513. 04 $28, 836, 439 37
216,081 64
923. 59
34,989 44

n

B y w a s t a g e b y o p e r a t i v e officers
B y b u l l i o n i n s w e e p s sold
B y buUion t r a n s f e r r e d t o t h e M i n t a t C a r
son
B y bullion consumed in coinage
B y bullion consumed in coinage
1881.
J u n e 30. B y b a l a n c e c a r r i e d doAYu

188J.
J u l y 1. T o b a l a n c e t b r o u g b t d o w u

29, 263,121. 06

29, 0.87, 510 45

1, 281, 337. 43

29, 545. 04
39,842.76

$33,875 43
44,252 31

• 333, 333. 33
26, 893, 285.12
685, 777. 38

346, 500 00
27, 365, 983 03

1,281,337.43

O

w

1, 296, J I 68

o

1, 296, 899 68

29,263,12L 06

29,087, 510 45

* T h e r e c o r d s of t h e T r e a s u r y D e p a r t m e n t shoAV that, t h e profits on t h e c o i n a g e of t h e 685,777.38 o u n c e s of sih-er b u l l i o n o n h a n d J u l y 1, 1878, Avere a d j u s t e d p r i o r t o t h a t
d ate, in a c c o r d a n c e w i t h r e g u l a t i o n s t h e n i n force.
t T h e r e p o r t of t h e officer d e t a i l e d t o m a k e t h e a n n u a l e x a m i n a t i o n of t h e M i n t a t S a n F r a n c i s c o shoAvs t h a t t h i s b a l a n c e w a s a c t u a l l y on h a n d a t t h e close of t h e fiscal
y e a r , 1881.
"

pi
O

w
No. 11.—SILVEB-COINAGE
DR.

ACCOUNT from July 1, 1878, to .lune 30. 1881.

T H E U N I T E D STATES M I N T AT SAN FRANCISCO, in account w i t h T H E U N I T E D STATES.

T o p r o c e e d s of 26,893,285.12 o u n c e s of silver coined i n t o s t a n d a r d s i l v e r
d o l l a r s of 112.5 gTains e a c h
$31, 294, 004 50




31, 294, 004 50

B y cost of coinage, a s p e r '' silver-bullion a c c o u n t "
B y p r o f i t s on coinage, carried t o " s i l v e r profit-fund a c c o u n t " .

CR.
$27, 365,988 03
3, 928, 021 47
81, 294, 004 50

u
d

No. 12.—SILVEB P B O F I T - F U N D ACCOUNT from July 1,1878, to June 30, 1881.
D R . ..

'^

, T H E . M I N T O F T H E U N I T E D S T A T E S AT SAN FRANCISCO in account \vith T H E U N I T E D STATES.

1878.
July 1. To balance on hand
Less amount (being part of this balance) deposited June 26,1878, by order of the Secretary of the Treasury, as per warrant No.
1798, "secoud quarter 1878, but not charged
to the United States iu this account until
the third quarter 1878
'....
To profits on coinage, as per ' Silver-coinage account"
1881.
J uly 1. To balauce brought down .




$137,182 :

$37,182 25

By expenses of distribution
•
By loss on sweeps sold
By Avastage by operative officers
,
S>y aggregate amount deposited in the Treasury and
covered in, as per Avarrants on file in the Register's
office
Less amount pertaining to second quarter, 1878
(see entry per contra)

3, 928, 021 47
3, 965, 203 72

B.y balance carried dowu .

"*553, 481 43

* This balance has been deposited ju the Treasury and coA-ered in by warrant No. 1702, third quarter 1881.

CR.

$82, 753 24
23, 007 87
27, 608 07
$3, 378, 353 11
" 100, 000 00

hj
O
W
H
O

, 278, 353 11
553, 481 43
3, 965, 203 72

w
Ul

o

pi

oH
W
W

>
Ul

a
pi

at)

64

REPORT OF THE SECRETARY OF THE TREASURY.
No. 13.—CONSOLIDATED STATEMENT of theSILVEBT H E S I L V E R - P R O F I T F U N D in ac

DR.

1878. July 1. To balance on hand at the several coinage mints, .viz:
Philadelphia
New Orleans
(;Jai:son
SanFrancisco
$137,182 25
Less amount deposited June 26, 1878, by
order of the Secretary of the Treasury,
and covered in by Avarrant No. 1798,
second quarter 1878, but not charged in
tbe superintendents' account until the
third quarter, 1878.
*100, 000 00

:S5, 892 84

37,182 25
To ijrofits on coinage a t Philadelphia
NewOrleans
Carson
San Francisco
.
To surplus bullion and adjustments on trade dollars and subsidiary silA^er, carried to silver-profit fund:
Philadelphia
,
i
Carson

9, 752, 210 54
659 93
3,900 87

10, 081, 496 31

1881.
July 1. To balance 1 brought down.
* See note on page 66.




$"324, 725 47

4,196, 535 50
1, 343, 015 68
284, 637 89
3, 928, 021 47

1,101,645.43,
t See note on page 66.

REPORT OF T H E SECRETARY OF T H E TREASURY.

65

P B O F I T F U N D , from July^l, 1878, to June 30, 1881.
count w i t h T H E U N I T E D STATES.

CR.

By expenses of disti ibution as per A'^ouchers audited and allowed
by the accounting officers of the Treasury Department:
Philadelphia
NeAV Orleans
i..:
Carson
San Francisco

$102,328 81
16, 912 69
19,130 54
82, 753 24
$221,124 78

By loss on sweeps sold as per accounts of the superintendents of
the various mints, audited and allowed by accounting officers:
Philadelphia
New Orleans
>.
i
Carson
» San Francisco
;
'

12, 746 91
4, 248 12
23, 007 87

39, 997 90

By necessary wastage by operative officers within the limit allowed by section 8542, Revised Statutes, as admitted by the
accounting officers:
Philadelphia
New Orleans
Carson
San Francisco

10,108 96
4, 522 31
2, 065 19
27, 608 07
44, 304 53
48 86

By loss on recoinages at Philadelphia
By amounts deposited in the Treasury, and covered in as per
warrants on file in the Register's Office: .
Philadelphia Mint:
Warrant No. 492, fourth quarter, 1878.... $200, 000 00
Warrant No. 1585, fourth quarter, 1878... 200, 000 00
Warrant No. 494, first quarter, .1879
75, 000 00
Warrant No. 1639, first quarter, 1879....°. 200, 000 00
Warrant No. 1810, second quarter, 1-879.. 500, 000 00
AV.arrant No. 1092, third quarter, 1879.... 400, 000 .00
Warrant No, 1122, fourth quarter, 1879... 500, 000 00
Warrant No. 597, first quarter, 1880 -."... 400, 000 00
• Warrant No. 688, second quarter, 1880... 400, 000 00
Warrant No. 610, third quarter, 1880 . . . . 350, 000 00
Warrant No. 1164, third quarter, 1880
11, 556 61
Warrant No. 674, fourth quarter, 1880.... . 300, 000 00
Warrant No, 671, first quarter, 1881
800, 000 00
AVarrant No. 1597, second quarter, 1881.. 190,000 00.
4, 026, 556 61

Keiu Orleans
Warrant
Warrant
Warrant
Warrant
Warrant
Warrant

Mint :
No. 1254, second quarter, 1879... 19,454 69
No. 687, second quarter, 1880... 400, 000 O
O
No. 611, third quarter, 1880
9 50
No. 1163, third quarter, 1880
90
No. 818, second quarter, 1881 . . . 698, 812 03
No. 989, second quarter, 1881...
1,187 97
1,119, 465 09

Carson Mint:
Warrant No. 493, first quarter, 1879....
Warrant No.. 1690, fourth quarter. 1879.
Warrant No. 609, third quarter, 1880
Warrant No. 817, second quarter, 1881 .

*100, 000 00
50,000 00
50, 000 00
50,000 00
250, 000 00

San Francisco Mint
Warrant No. 1798, second quarter, 1878.
5,
Warrant No. 493, fourth quarter, 1878..
WarrantNo. 494, fourth quarter, 1878..
Warrant No, 492, first quarter, 1879....
Warrant No. 1811, second quarter, 1879.
A arrant No. 603 third quarter, 1879 . . .
V
AVarrant No. 1689. fourth quarter, 1879.
.
AVarrant No. 598, first quarter, 1880 . . . .
AVarrant No. 1162. third quarter, 1880 ..
,,
Warrant No. 672, •first quartei-, 1881

*100, 000 00
5, 000 00
495, 000 00
400, 000 00
650, 000 00
40, 000 00
1, 794 52
400, 000 00
540, 488 74
746, 069 85
3; 378, 353 11
8, 774, 374 81

From which deduct warrant No. 1798, second quarter, 1878 (see entry per contra)
-

100, 000 00
8, 674, 374 81

1881.
. J u n e 30. By balance carried doAyn:
Philadelphia
New Orleans
Carson
:.:

$331,298 62
202,115 59
14, 749 79

San Francisco

553, 481 43
1,101,645 45
10, 081, 496 31

5F



^ See note on page e

66

REPORT OF THE SECRETARY OF THE TREASURY.

NOTES A P P E R T A I N I N G TO CONSOLIDATED STATEMENT OF SILVER-PROFIT FUND.
* The total amount given in the report heretofore xiublished is
The total as per the above statement is
Showing a difference of

.-

$10,181, 496 31
10, 081,496 31
,

100, 000 00

Which is accounted for as follows :
On July 1, 1878, the silver profit fund account of San Francisco Mint showed a balance of $137,182. 25
on hand, but the records ofthe Treasury Department prove that $100,000 of this balance was deposited
by order ofthe Secretary of the Treasury, on June 26, 1878. Notice of this deposit did not reach San
Francisco until the third quarter, 1878, and in the absence of such notice the Superintendent of the
Mint had no authority to take credit for such deposit. Hence his balance of $137,182.25 was a nominal
balance, the actual amount being $37,182,25.
. In order that the Avhole transaction may ax)pear in this ^^consolidated statement,.'^ the nominal balance of $137,182. 25 has been Ijrought foi-Avard as on hand at San Francisco, July 1, 1878, and the deposit
of $100,000 made on June 26, 1878, has been deducted from said balance, so as to show the actual balance on band, namely, $37,182.25. The warrant by Avhich the $100,000 Avas coA^ered into the Treasury
liaA^ing been,taken up as a ciedit in this stateraent, a similar deduction has been made on the credit
eide of the aecount. In other Avords, a counter entry of $100,000 has been made, which reduces tbe
total to $10,081,'496.31, that bein.g tbe correct amount of the transactions at the four coinage mints on
account of the " silver ^profit-fund,'' from July 1, 1878, to June 30, 1881.
tThis ba;lance has been dei:)Osited in the Treasury and covered in, as per warrants on file in the Register's office, as follows:
Warrant No. 1703, third quarter, 1881
$200, 000 00 ? -pi . , - , . ^. .
Warrant No. 1849, fourth quarter, 1881
181, 298 62 j -f nnaueipuia.
Warrant No. 1848, fourth quarter, 1881
:. 202,115 59 New Orleans.
AVarrant No. 1847, fourtb quarter, 1881
*
14, 749 79 Carson.
AVarrant No. 1702, third quarter, 1881
:...
558, 481 43 San Francisco.
Total




,

1, 101,645 43

REPORT OF COMMISSIONER OF INTERNAL REVENUE.




67




R EP0 RT
OF

THE COMMISSIONER OF INTERNAL REVENDE.
TREASURY DEPARTMENT,
O F F I C E OF I N T E R N A L E E V E N U E ,

Washington^ Novemher 25,1882.
SIR : I have the honor to submit the annual report of the Commissioner of Internal Eevenue for the fiscal year ended June 30,1882, with
additional information relatiA^e to'the operations of the Bureau during
the months of July, August, September, and October of the present
fiscal year, and accompanied by an appendix* of tabular statements as
follows:
Table A, showing the receipts from each specific source of revenue,
except adhesive stamps, and the amounts refunded in each collection
district, State, and Territory of the United States, for the fiscal year
ended June 30,1882.
o
Table B, showing the number and value of internal-revenue stamps
ordered monthly by the Oommissioner and from the of&ce of the Commissioner; the receipts from the sale of stamps and the commissions
allowed thereon; also thenuDiberand A-alue of stamps for special, taxes,
tobacco, cigars, cigarettes, snuif, distilled spirits, and fermented liquors,'
issued monthly to collectors di^Tng the fiscal year ended June 30,1882.
Table C, showing the percentages of receipts fromthe several general
sources of revenue in each State and Territory of the United States to
the aggregate receipts from the same sources, by fiscal years, from July
1,'1863, to June 30, 1882.
Table D, showing the aggregate receipts from all sources in each
collection district. State, and Territory of the United States, by fiscal
years, from September 1, 1862, to June 30, 1882.
,
.
^ Table E, shoAving the receipts in the United States from each specific
source of rcA^^enue, by fiscal years, from September 1, 1862, to June 30,
1882.
Table F, showing the ratio of receipts in the United States from specific sources of revenue to the aggregate receipts from all sources, by
fiscal years, froin July 1, 1863, to June 30, 1882.
Table G, sho_wing the returns of distilled spirits, fermented liquors,
manufactured tobacco, snuff, cigars, and cigarettes, under the several
acts of legislation and by fiscal years, from September 1, 1862, to June
30, 1882.
'
..
Table H, showing the receipts from special taxes in each collection
district. State, and Territory for the special-tax year ended April 30,1882.
Table I. Abstract of reports of district attorneys concerning suits and
prosecutions under the internal-revenue laws during the fiscal year ended
June 30, 1882.
Table K. Abstract of seizures of property for violation of internalrevenue laws during the fiscal year ended June 30, 1882.
REDUCTION OF TAXATION.

The receipts from internal-revenue taxation have year by year increased, from $113,000,000 in the fiscal year 1879, to $124,000,000 in 1880,
to $135,000,000 in 1881, and to $146,500,000 (in round figures) in the fis'* Thie appendix here referred to is omitted from this volume for want of space, but it will be found
in the bound volumes of the Commissioner's report,
o
69




70 .

REPORT ON THE FINANCES.

cal year last ended.' . There will probably be some diminution in the receipts for the present fiscal year as compared with last year, but it is
not likely that the collections of internal rcA^enue for the current year
will fall below $145,000,000 should the taxes now imposed be retained.
I t is au old and sound maxim that no more revenue should be raised
than is necessary for an economical administration of the goA^ernment
and a gradual reduction of the public debt. Although taxation may be
so wisely adjusted as not to operate asa'severe burden upon the people,
when the amount collected is beyond the actual needs of the governnient there is presented a constant temptation to extravagance in appropriations. Another consideration attending the existing overflowing
condition of the public Treasury cannot have failed to attract your
notice. If the present raDte of paying the principal of the public debt be
continued, all the bonds subject to call will be paid Avithin three years;
after which time the government will be compelled, in order to dispose
of its surplus revenue, to buy in open market the 4J per cent, bonds
which fall due in 1891, or the 4 per cent, bonds Avhich fall due in 1907.
Should the government thus become an active purchaser of these bonds
before maturity it seems clear that they would advance in i^rice t6 25
or 30 per cent, premium, to pay Avhich would certainly be regarded as
a waste ofthe people's money. It seems to me judicious that the principal ofthe public debt should be extinguished, as was originally contemplated, only at the rate necessary to meet the requirements of the
sinking fund, viz, to the extent ofabout $55,000,000 per annum. Therefore, i t becomes obvious that a reduction of from scA^enty to eighty millions in the annual reveuues\)f the country could be safely entered upon,
and in my judgment such a reduction is urgently called for. I resxiectfully offer some suggestions for your consideration in this regard.
Sound policy would seem to require that in remitting taxation the
relief should fall as far as possible upon those articles Avhich are necessaries of life, and upon those interests which are of pressing importance to the country. The great bulk of internal-revenue taxation is derived from distilled spirits (ajbout nine-tenths of which are used as a
beverage), malt liquors, tobacco, and cigars. These afe not articles of
necessary consumption, but are articles of luxury, the taxes upon which
are really paid by the consumers, and no one need consume them. I am
strongly of the opinion that, so long as the principle of deriving part
of the revenue of the government from interual taxation is retained,
these articles, and the dealers therein, are proper subjects for taxation.
There is no demand on the part of consumers of these products for the
remission of the taxes imposed upon them; there is no public sentiment calling tor their repeal; on the contrary, the general current of
public opinion seems to be in favor of their retention.
The other objects of inteirnal-revenue taxation, with the amounts
realized therefrom during the past fiscal year, are as follows:
Friction matches
Patent medicines, i^erfumery, &c
Bank cliecks
-^.'Bank deposits
Saving-s-bank deposits
Bank capital
:
Savings-bank capital

.'
-

'.--.,

|3,272,258
1,978, 395
2, 318, 455
4, 007,701
,..
88, 400
1,138,340
14,729

00
56
14
98
47
87
38

Total
-i...
--..12,818,281 40
Add to these items the taxes collected by the Treasurer of the United ,
States from national banks, as follows:
. National banks (deposits)
5, 521^ 927 47
National banks (capital)
437, 774 90
Makes a total deriyed from these sources of . . . • . . .*.



18,777,983 77

COMMISSIONER

OF

INTERNAL

71

REVENUE.

•As suggested in my report for 1880, these taxes should, in my opinion,
be repealed. The tax on friction matches is more or less felt in every
household. The tax on savings-bank deposits is a tax on thrift. The
tax on patent medicines, perfumeries, and cosmetics is vexatious, being
levied upon innumerable articles. The taxes on bank capital, bank deposits, and bank checks are not needed for purposes of revenue, and
can therefore be dispensed with, and the latter tax is largely amenable
to the objection made to the tax on deposits in saAnngs banks—that it
is an impost laid upon the practice of economy, which it should be the
design of all good governments to encourage.
The repeal of these taxes would greatly simplify the iiiternal-revenue
system.^ Then, if to the eighteen and three-quarter millions of reduction thus proposed Congress should add a reduction in the charges for
special taxes to dealers in articles taxed for internal revenuesubstantially
as proposed in the bill now pending before the Senate, a still further
diminution of taxation would be attained, and the superAdsion OA^er
dealers in taxable articles, which experience has shown to be necessary
in order to fully and fairly collect the taxes from all alike, would still be
preserved. '
Eeducing all these special taxes 40 per cent., the remissions under
this head would be as follows, on the basis of last year's collections :
Present,
rates.

Special-tax payers.
Rectifiers .
First class
Second class
:
Wholesale liquor dealers
-.
Retail liquor dealers
:
-.Manufacturers of stills
Stills or worms manufactured
Brewers:
First class
Second class
Wholesale dealers in malt liquors
Retail dealers in malt liquors
Manufacturers of cigars
'
•Manufacturers of tobacco
Dealers in leaf tobiacco
Dealers in leaf tobacco not over 25,000 pounds.
Dealers in manufactured tobacco
Peddlers of tobacco:
First class
Second class
Third class
Fourth class

Proposed
rates.

Annual reduction.

^200
100
100
25
50
20

$120
60
60
15
30
12

100
50
50
20
10
10

60
30
30
12
6
. 6
15
3
3

43, 724
64, 044
55, 975
3,483
30, 388
, 3, 705
789, 386

30
15

9,722

2.5>
5
5
50

25
15
10

Total.

$70, 665
169,629
1, 687, 703
586
2, 043
76, 852

3, 007, 905

The act of March 1, 1879, reduced the tax on tobacco from 24 cents
per pound to 16 cents per pound, but did not reduce the tax on cigars
and cigarettes. A corresponding reduction on cigars would be to $4
per thousand, and on cigarettes to $1.20 per thousand. This, I think,
should be done, and would amount to a reduction of taxes of $6,746,000.
This would make a total reduction of internal-revenue taxes (including the taxes on national banks) as follows:
Matches, medicines, perfumery, and banks
Special taxes
Cigars and cigarettes
....
.
• Total

.---..

$18,777,983 77
3,007,905 00
6,746,000 00
-

28,531,888 77

While it is undoubtedly deemed adAnsable by many that th^ere should
be a revision of the tariff, it is unquestionably the case that it is not



N

•f

12'

,

'

•

.

.

•

,

•

.

.

REPORT ON THE FINANCES. "

possible to foresee the effect which a reduction of the rate of duties on
many of the great lines of imxiortation would have upon the receipts
from customs. It is contended that a reduction of duty upon many articles Avould so increase the importation of thern as to yield an actual
increase of reveuue. The demand of the hour i.s for legislation that will
reduce the receipts of the government I venture to suggest whether
"it is not desirable to consider the practicability of taking the duty off*
sugar. About 2,200,000,000 pounds of sugar are annually consumed in
the United States, 10 per cent, of which is produced in this country.
Upon the 2,000,000,001) pounds imported, the government realizes a
irevenue of $49,000,000. Sugar is one of the necessaries of life; it is
consumed in e^very household. Should this duty be removed, there
Avould be not only a certain and large reduction of revenue, but the
benefit of that reduction would iramediately inure to the people. The
best refined sugar, which now sells at 10 cents a pound retail, could be
sold at scA^en cents if the duty were removed, and the total reduction
would amount to A^ery nearly one dollar per capita per annum of the
entire population of the country.
The'objection to this measure would be the abolition of the protection
now afforded to the sugar interests of Louisiana and other States. This
difficulty might be met by giving a bounty of, say, two and one-half
cents per pound upon all home-produced sugar. The cultivation of
sugar in this country is not a rapidly-growing industry; there is no prospect that the production of cane sugar will ever bear a greater proportion to the consumption than at present. If the area of the lands suitable for the growth of sugar-cane was large, and the industry was one
which would dcA^elop rapidly under the encouragement of protective
legislation, so that the constantly growing demand for sugar would be
overtaken and supplied by a home product, the question would be A^ery
difierent; but such is not the case. Sugar-cane is a tropical plant, and,
its cultivation in the United States is confined to a small portion of
Louisiana, Florida, and Texas,^and where groAvn it is subject to the hazards of frosts and floods, so that a maxiinum crop is not produced oftener
than eveiy other year, as will be seen from the following figures, which
show the quantities of sugar and molasses produced for the years named:
Years

1859-'60
1877-'78.
1878-'79..
1879-'.80.
1880-'81..

Sugar..
Hogsheads.
230, 982
136, 878
228, 451
178,872
233, 908

Molasses.
Gallons.
14, 963, 996
18, 983, 040
17, 624, 539
16, 573, 273
20, 340, 038

The quantity of sugar imported during the fiscal year 1861 Avas
511,000,000 pounds, while the quantity imported during the fiscal year
1882 was 1,900,000,000 pounds. It is thus seen that while the home
product has not increased in tvventy-one years, the importations have
increased almost fourfold.
I apprehend if sugar were not produced in this country Congress
'would not hesitate to remove the dut}' from imported sug^r as the best
means of reducing taxation. The present law gives to the sugar planters
of this'country, indirectly, about $4,000,000 or $5,000,000 per annum.
My proposition would be to give them this amount directly and let the
whole people have the benetit of the reduction of taxation of, say,
$49,000,000, which would in this way be eff'ected.
'
The principle of paying a bounty for the encouragement and development of Ameriqan industry is not new; it was adopted in the case of



COMMISSIONER OF INTERNAL

73

REVENUE.

our fisheries as early as 1813, and was continued for more than fifty
years. Millions of dollars have been paid out during this period to
American fishermen for fish caught and exported, and we are still giving to this industry the bonus of allowing them to withdraw salt free
of duty and of requiring from them no tonnage dues. As a matter of
principle, a bounty to our sugar interests would, in my opinion, be no
more objectionable than similar encouragement to our fisheries.
These reductions, if made, would amount to $77,531,888.
Detailed information is subjoined of the aniount of internal revenue
collected during the past year, and forthe first four months of the present fiscal year; of the sources whence that revenue was derived; of the
States and districts in which the collectious weremade during thepast
year, and as to the cost of collection, &c.
COMPARATIVE R E C E I P T S FOR LAST TA\^0 FISCAL YEARS.

The receipts from the several objects of iiiternal-revenue taxation
•during the last two fiscal years have been as follows:
K e c e i p t s for
1881.

R e c e i p t s for
1882.

$1, 581, 075
60, 683, 051
170,145
4, 822,298.
. 418, 813
28, 589

83
73
99
21
68
44

$1, 095,164 60
63, 683, 592 37
184, 483 67
4, 455, 355 .55
439, 018 86
15,793 13

67,153, 974 88

69,873,408 18

2 71P a.q.q 30

16, 095, 724
992, 981
689,183
22, 833, 287
76, 996
1, 976, 071
,151,442
26, 258
13, 045

18, 245, 852
972, 570
778, 650
25, 033, 741
76, 309
2,094,536
152, 622
22, 875
14, 830

37
10
87
97
15
21
14
22
88

2,150,127 59

42, 854, 991 31

47, 391, 988 91

4, 536, 997 60

13, 237, 700 63
195, 308 5 2 .
267, 232 06

15, 680, 678 54
195, 824 81
277, 417 57

2, 442, 977 91
515 79
10,185 51

13,700,241 21

16.1.53. 920 42 1

2. 453. 679 21

2, 946, 906 64
811,006 35
4, 295 U8

4,096,102 45
1,153, 070 25
4, 285 77

1,149,195 81
842, 063 90

3,762,208 07

5; 2 5 3 4 5 8 4 7

1, 491, 250 40

B a n k cliecks
...
2, 253, 411 20
• 3, 278, 580 62
lYiction matches
... .
P a t e n t medicines, perfumery, cosmetics,
&c
1, 843, 263 90
Penalties
231,078 21
152,162 90
Collections not otherwise provided f o r . . .

2,318,455 14
8, 272, 258 00

65, 043 94

1, 978, 395 56
199, 830 04
81, 559 00

135,131 66

7,850,497 74

92,000 91

S o u r c e s of r e v e n u e .
0

Increase.

Decrease.

1

SPIRITS.

S p i r i t s distilled from f r u i t
•Spirits distilled from g r a i n , m o l a s s e s , & c .
Hetail liquor dealers
VVholesale l i o u o r d e a l e r s
Miscellaneous

'.

T o t a l of spivits

-.
$3, 000,
14,
133,
20.

.•540
337
057
205

$435, 911 23
64
68
34
18
12,796 31

- -o

TOBACCO.

<Di«''ars
•Cigarettes
Snuff
.
T o b a c c o c h e w i n g a n d smolcing
D e a l e r s i n leaf t o b a c c o
Dealers in m a n u f a c t u r e d tobacco
M a n u f a c t u r e r s of t o b a c c o a n d c i g a r s
P e d d l e r s of t o b a c c o
T o t a l of t o b a c c o

'

78
22
03
60
76
55
57
13
67

20,411 12
89," 467'84'
2, 200, 454 37
687 Cl
118, 464 66
1,179 57
3, 882 91
1, 785 21

F E R M E N T E D LIQUORS. .

A l e , beer, l a g e r beer, a n d p o r t e r . .1
Bre"wers' special t a x
Dealei'S in m a l t lio u o r s
T o t a l of f e r m e n t e d l i q u o r s

1

BANKS AND B A N K E R S .

Banlc d e p o s i t s
•
Bank capital
B a n k circulation

'.

T o t a l of b a n k s a n d b a n k e r s

9 31

MISCELLANEOUS.

T o t a l of m i s c e l l a n e o u s
Affffreerate r e c e i p t s




7,758,496 83 |

6 822 62
31 248 17
70, 603 90

135,229,912 30 1 146. .523. 273 72 i 11 293. 361 42

•

•

.

:

: .

74

REPORT ON T H E FINANCES.

, The quantities of distilled spirits, fermented liquors, manufactured
tojDacco, snuff, cigars, and cigarettes on which tax was paid during the
same periods were as follows:
'
Fiscal years ended June 30Products taxed.

lucrease.
1881.

Number of gallons of spirits distilled
from fruit.
Is'umber of gallons of spirits distilled
from grain, molasses, and other materials
Number of cigars
!Number of cigarettes
Number of pounds of snuff.
Number of pounds of tobacco
Number of barrels of fermented liquors..

j*' Decrease.

' 1882.

1, 701, 206
67, 426, 000
2, 682, 620, 797
567, 395, 983
4, 307, 394
142, 706, Oil
14, 311, 028

484, 356
70, 759, 548
3, 333, 548
3, 040, 975, 395 858, 854, 598
554, 544,186
4, 860, 568
559,"i74
156, 458, 033
13, 752, 022
16, 952, 085 I
2, 641, 057

12,851,797

R E C E I P T S FOR F I R S T FOUR MONTHS OF P R E S E N T FISCAL YEAR.

The receipts for the first four months of the present fiscal year compared with the coiresponding months of the past fiscal year have been
as follows:
!
Sources of revenue.

1 Receipts fiom
July 1, 1881,
to October
1
31,1881.

Receipts from /
July 1.1882,
. Increase.
to October
31,18.82.

Decrease.

SPIRITS.

Spirits distilled from apples, peaches, or
grapes
Spirits distilled from materials other than
apples, peaches, or grapes
Wine made in imitation of champagne, &c
Rectifiers (special tax)
Dealers, retail liquor (special tax)
Dealers, wholesale liquor (special tax) —
Manufacturers of stills, and stills and
woi'ms manufactured (special tax)
Stamps for distilled spirits intended for export

$396, 540 85

$371,387 17

$25,153 68

22, 427, 887 60

22, 089, 470 48

338, 417 17

16,426'87
356, 507 52
27,112 59

i4,'937'52' """$4," 516'65"
370, 792 11
14, 284 59
2, 970 82
30, 083 41
2; 108 34
590 60

28, 223, 599 11

Total....".

2, 716 68
2,413 00

22, 879, 864 58

6 405, 640 64
,
346, 694 87
7,055 65
290:149 25
10, 248, 892 01

6, 968,197 36
403,195 21
6, 631 95
302, 092 38
9,135, 770 56

1, 984 60

877 97

1,106 63

1, 000 46
5, 999 96
583 34

779 61
4,456 24
291 67

220 85
1, 543 72
291 67

185, 869 46
485 85
2,913 36

190, 732 94
329 62
2. 275 67

17, 497,269 45

17, 015, 631 18

618 34
1, 822 40
344, 234 53

TOBACCO.

Cigars and cheroots
Cigarettes
.Manufacturers of cigars (special tax)
Snuff of all descriptions
.'
Tobacco, manufactured, of all descriptions.
Stamps for tobacco, snuft. and cigars intended for export
Dealers in leaf tobacco, not over 25,000
pouuds (special tax)
Dealers in leaf tobacco (special tax)
Retail dealers in leaf tobacco (special tax).
Dealers in manufactured tobacco (special
tax)
Manufacturers of tobacco (special tax)
Peddlers of tobacco (special tax)
Total ...,^

^

562, 556 72
56, 500 84
423 70
11, 943 08
1,113,121 45

4, 863 48
156 23
637 6»
481, 638 32

FERMENTED LIQUORS.

Fermented liquors, tax of $1 per barrel on..
Brewers (special tax)
-^
Dealers in malt liquors (special tax)
Total..




6, 033, 246 03
6, 795 96
42, 849 17

6 306, 977 23
,
5, 273 26
41, 776 37

273, 731 20

6, 082, 891 16

6, 854, 026 86

271,135 70

i, 522 70
1, 072 80

COMMISSIONER OF INTERNAL
( R e c e i p t s from
J u l y 1,1881,
to October
31,1881.

Sources of revenue.

75

REVENUE.

R e c e i p t s from
J u l y 1,1882,
to October
81, 1882.

Increase.

Decrease.

BANKS AND B A N K E R S .

Bank deposits
Savings-bank deposits
Bank capital
Savings-bank capital
Bank circulation
:
,
Notes of persons, State bauks, towns, cities,
&c., paid out
'..
Total

$714,
33,
363,
4,

684
401
350
339
4

11
29
04
67
29

$794, 449
28, 245
235, 461
3, 546
17

2, 402 45

59
79
82
84
13

$79, 765 48

$5,155 50
127, 888 22
793 83
12 84

• 4 14

2, 398 81

1,118,181 85

1,061,724 81 I.

2, 869, 644 95
52, 360 24

3,161, 562 11
82, 014 52

291, 917 16
29, 654 28

8, 249, 383 29 |

292, 464 83 |.

56,457 04

MISCELLANEOUS.

. Adhesive stamps
Penalties
Collections n o t o t h e r w i s e h e r e i n p r o v i d e d
for.
Total

34, 913 27
2, 956, 918 46

Aggregate receipts

•

50, 878, 860 03

29,106 61

50,560,130 67

318,729

COLLECTIONS BY DISTRICTS DURING PAST FISCAL YEAR.

Following w^re the collections in each ciistrict of the United States
during the fiscal year ended June 30, 1882:
Collection districts.
First Alabama
Second Alabama
Arizona
Arkansas
Do
First California
Fourth California...
Colorado
First Connecticut —
Second Conuecticiit.
Dakota
Delaware
Florida
Second Georgia
Do.-.-.
Third Georgia
Idaho
Firstlllinois
:..
Second Illinois
Third Illinois.-...-.
Fourth Illinois
Fifthlllinois
Seventh Illinois
Eighth Illinois
.,.
Thirteenth Illinois .'First Indiana
Fourth Indiana
Sixth Indiana
Seventh Indiana
Tenth Indiana
Eleventh Indiana...
Second Iowa
Third Iowa
Fourth Iowa
Fifthlowa
Kansas
Second Kentucky...
Fifth Kentucky
Do
Sixth Kentucky
Seventh Kentucky .
Eighth Kentucky...
Ninth Kentucky




Names of collectors.
Albion L. Morgan
James T. Rapier..."....
Thomas Cordis
Edward Wheeler
Henry M. Cooper
Chancellor Hartson
Amos L.'Frost
James S. Wolfe
Joseph Selden
David F . Hollister.---!
John L. Pennington . -.
James Mclntire
Dennis Eagan
Andrew Clark
Walter H. Johnson —
Edward C. Wade
Ronello W. Berry
Joel D. Harvey
Lucien B. Crooker
Albert Woodcock
Richard Rowett
Howard Knowles
J o h n W . Hill..-v
Jonathan Merriam
Jonathan C. Willis -.
James C. Veatch
A\^ill Cumback
Frederick Baggs
Delos W. Minshall
George Moon
John F. Wildman
John W. Greeu
James E. Simpson
John Connell
Lamj)Son P; Sherman.
John C. Carpenter
William A. Stuart. -..
Williams. Wilson
Lewis Buckner
John W. Finnell
Armsted M. Swope . . .
William J. Landram.John E. Blaine

Aggregate collections.
$73, 504 25
67, 028 67
45, 464 31
82, 079 92
76, 959 44
814, 6S2 86
312,484 65
247, 264 09
263, 811 83
301, 989 45
67, 436 83
350, 906 37
280, 227 32
241, 464 76
22, 589 46
95, 306 66
31, 908 27
466, 026 54
261,351 75
676, 981 44
, 247, 764 75
267, 988 65
75, 595 53
, 429,153 26
827, 555 45
253, 745 94
, 459, 301 85
, 164, 648 03
, 806, 664 77
196, 885 66
104, 111 19
421, 380 23
821, 618 32
184, 788 87
916,167. 32
264, 013 95
955, 021 75
, 019, 227 63
448, 493 91
, 435, 658 55
, 281,464 20
221,709 36
169, 660 64

76

REPORT ON THE FINANCES.
Collection districts.

Louisiana
Maine
Third Maryland Fourth Maryland
Third Massachusetts .
Fifth Massachusetts-Tenth Massachusetts.
First Michigan
Third Michigan
Fourth Michigan
Sixth Michigan
First Minnesota
Second Minnesota
Mississippi
First Missouri
Second Missouri
Fourth Missouri
Fifth Missouri
Do
Sixth Missouri
Montana
Nebraska
Nevada.
New Hampshire
-- .
Do
First New Jersey
Third New Jersey
Fifth New Jersey
New Mexico
r--First New York
Second New York
Third New York
Eleventh New York
Twelfth New York
Fourteenth New York
Fifteenth New York
Twenty-first New York.
Twenty-fourth New York . . . .
Do
Twenty-sixth New York
Twenty-eighth New York
Do
Thirtieth New York
Second North Carolina
Fouith North Carolina
Fifrli North Carolina
...
Sixth North Carolina
Do
First Ohio
Do
Third Ohio
Fourth Ohio
Sixth Ohio
Do
Seventh Ohio
--Tenth Ohio
Eleventh Ohio
Fifteenth Ohio
--Eighteenth C)hio
Oregon
First Pennsylvania . Do
--Eighth Pennsylvania
Ninth Pennsylvauia
Do.-.-''
Twelfth Pennsylvania
Fourteenth Pennsylvania..-..
Sixteenth Pennsylvania ..
Nineteenth Pennsylvania
Twentieth Pennsylvania
Twenty-second Pennsylvania Do
Twenty-third Pennsylvania...
Rhodelsland
South Carolina
Second Tennessee
Fifth Tennessee
Eighth Tennessee
First Texas
-Third Texas
-... Fourth Texas
Do
Utah




Names of collectors.
Morris Marks
Franklin J. Rollins
Robert M. Proud
1
Webster Bruce
Charles W. Slack
Charles C. Dame
Edward R. Tinker
Luther S. Trowbridge
Harvey B. Rowlson
I Slum ail S. Bailey
Henry C. Riplev :
Albert C. Wedge.William Bickel
James Hill
Isaac H. Sturgeon
Alonzo B. Carroll
Rynd E. Lawder
David H. Budlong
Bryan H. Langs.ton
Philip Doppler
Thomas P. Fuller.
Lorenzo Crounse
Frederick C. Lord
Andrew H. Young.
Hem y M. Putney
William P. Tatem
.
Culvei- Barcalow.
Robert B. Hathorn
Gustavus A. Smith . . . . . -..
Rodney C. Ward
Marshall B. Blake
Max Weber
Moses D. Stivers
Ja;Son M. Johnson ."
Ralph P. Lathrop
Thomas Stevenson
James C. P. Kincaid
John B. Strong . . . James Chiverton (acting)...
Benjamin De Voe
Buit Van Hoin
Henry S. Pierce
Frederick Buell
Elihu A. White
Isaac J. Young
George B. Everitt
John J. Mott
Thomas N. Cooper
Amor Smith, j r
William H. Taft
Robert Williams, j r
Robert P. Ke.nnedy
James Pursell
George P. Dunham
Charles C. Walcutt
C)lark Waggoner
Marcus Boggs
JeWett Palmer.
Worthy S. Streator . .1^
John (j. Cartwright
James Ashworth
William J. Pollock
Joseph T. Valentine
Thomas A. Wiley
Andrew J. Kaulfman
Edward H. Chase
Charles J. Bruner
Edward Scull
Charles M. Lynch
"..
James C. Brown . . . 1 Thomas W. Davis
Frank P. Case
John M. Sallivau
...
Elisha°H. Khodes
Ellery M. Brayton
James M. Melton
,..
William M. Woodcock
Robert F. Patterson
William H. Sinclair
Benjamin C. Ludlow
TheodoieHitchcox (acting) .
William Umbdenstock
Ovando J. Hollister
.

Aggregate Col •
lections.
$918, 899 19
. 85, 259 83
2, 662, 009 47
160, 228 81
1, 601, 844 13
938, 919 13
401, 595 81
1, 362, 945 87
273, 718 46
164, 576 96
201, 949 76
125, 071 40
403,420 54
94, 098 90
6,186, 922 72
65, 405 90
501, 833 39
15, 454 84
13S, 281 62
634,589 47
68, 001 31
1,108,191 15
49,103 93
236, 429 79
113, 512 25
305, 040 48
459, 988 40
4,.686, 604 72
55, 903 38
2, 984, 084 80
. 4, 206, 252 54
6,762,211 18
180, 625 31
627, 261 92
620, 596 47
346, 397 30
333, 264 94
158, 399 55
311,457 . 0
5
386, 550 60
882, 940 24
251, 600 89
1, 403, 396 85
62,163 24
1, 022, 309 00
1, 274, 767 96
466, 823 71
41,850 61
8, 611, 988 49
.3, 316, 270 85
1, 621, 593 77
475, 943 53
195, 905 86
104, 369 47
700, 260 02
1,021,138 71
1,216,251 21
201, 528 11
894, 059 79
88, 679 82
1, 702, 832 12
1, 308, 486 21
689, 758 24
1,<^37, 955 89
112,764 12
423,128 51
242, 351 75
258, 917 37
144,726 27
101, 605 53
1, 063, 295 49
622,130 ^9
767,154 44
229, 258 48
119,099 79
118, 312 99
777, 5 ^ 72
90
101, 824 29
87, 434 96
84, 372 68
11, 552 43
75, 072 86
48, 523 08

COMMISSIONER OF INTERNAL

> Collection districts.

REVENUE.

Names of collectors.

Vermont
Second Virginia ?
Third Virginia
....
Fonrtih Virginia
'..
Fifth Virginia
Sixth Virginia
Washington
First West Virginia...
Second AVest Virginia.
First Wisconsin
:.,
Second Wisconsin
Third AVisconsin
Do
Sixth Wisconsin
Do
Wyoming..

John C. Stearns
James D. Brady
Otis H. Russell
AVilliam L. Fernald ..
J. Henry .Rive.s
Beverly B. Botts
James R. Hayden
Isaac H. Duval
Francis H. Pierpont..
Irving M. Bean
Henry Hamden
(Jharles A. Galloway .
Howard M. Kutchiii..
Hiram E. Kelley
Leonard Lottridge . . .
Edgar P. Snow

Total from collectors
Cash receipts frem sale of adhesive stamps.
Aggregate receipts.

77
AggTegate collections.
$56, 444 58
010,101 04
144, 886 37
096, 673 36 .
740, 374 41

234, 273 12
40, 202 57
366,323 15
135, 953 41
560, 688 30
198, 570 89
15, 665 01
243, 238 52
87, 524 77
87, 428 23
20, 385 65
138, 954,165 02
7, 569, 108 70
146, 523, 273 72

ACCOUNTABILITY l^OU THE PUBLIC FUNDS.

TJie entire amount thus collected was promptly COA-ered into the
Treasury Avithout loss. During the past six fiscal years the sum of
$748,834,071.02 has been collected from internal-revenue taxation and
paid iuto the Treasury without any loss by defalcation.
COST OF COLLECTION.

The cost of collection for the past fiscal year, distributed among the
different items of appropriation, was approximately as follows : :;
For salaries and expenses of collectors, inclucling pay of depnty collectors, clerks, &c
.'
•..".
$1,980,790 88
For salaries and expenses of revenue agents, surveyors of distilleries,
gaugers, storekeepers, and miscellaneous expenses
* 2,256, 318 37
For stamps, paper, and dies
565, 026 28
For expenses of detecting and punisliing violations of internal-revenue
laws
!
.-•
52"; 015 95
For salaries of officers, clerks, and employes in the office of Commissioner of Internal Re'venue
253,330 00
Total..

5,107,481 48

The total expenses (including the expenses of this office) will be
found, on final adjustment, to be less than 3J per cent, on the amount
collected. The expenses of collection for the last six years have been
about $27,087,300, or about 3.6 per cent, on the amount collected.' This
sum has been disbursed without loss to the government.
* This item is liable to be slightly increased by the payment of a few accounts not
yet adjusted.




78

REPORT. ON T H E

FINANCES.

BONDS APPROVED AND AMOUNTS RECOVERED THEREON.

The following tables Avill be interesting as showing the number of
bonds received an(J approved by collectors of internal revenue during
the past six years, in connection with the manufacture of spirits, malt
liquors, tobacco, and cigars, the warehousing^ of distilled spirits, and
the exportation of taxable articles. I t will be seen that 139,641 bonds
have been executed, aggregating the penal sum of $701,726,043.20 ; the
sum of $25,955.74 has been collected from sureties, and $97,336.09 recoA^ered on distilled spirits on judgments not yet collected.
This exhibit reflects great credit upon the officers receiving and approving the bonds, and upon the taxpayers who executed them, the
amount recovered from sureties being infinitesimal as compared with
the detailed collections of taxes:
STATEMENT relative to BONDS of DISTILLEBS, CIGAB MANUFACTUBEBS,
^ TOBACCO.MANUFACTUBEBS, BBEWEBS, and EXPOBT TOBACCO BONDS
. for SIX YEABS ended June 30 1882.
A m ' t claimA m o u n t colS u i t s p e n d ed in s u i t s
l e c t e d from
ing.
pending.
sureties.

Distillers' bonds

Amount.

$55,766,650
20,033,600
30,321,]13
26,322,523

31,839

Cigai- manufacturei'S - . .
Tobacco manufacturers
B r e w e r s ..
E x p o r t tobacco bonds ..

Number.

43,749
1,949
15,688
19,649

C l a s s of h o n d s .

(Judgments
recovered.)
90,983 89
119,129,713 00

00
00
00
70

$20,915 85
757 30
2,850 69

87
31

$1.6,972 52
8,466 67
11,597 60

STATEMENT relative to SPIBIT-BONDS, OTHEB than DISTILLEBS' ANNUAL
BONDS, taken, during the S I X FISCAL YEABS ended June 30, 1882.
AVAEEHOUSING B O N D S .

(

Number of Avarehousing bonds
.'
22, 427
Aggregate penalties
|434,259,954 70
Tax on spirits in suit June 30, 1882
,
14,746 90
Additional tax, bonds in hands of United States attomey for suit, i . .
11, 019 60
Tax recovered by judgments outstanding
6, 352 20
Tax collected on judgments
:
1, 431 90
Tax recovered by judgments uncollectible, sixth district North Carolina...
.-'
740 70
'

•

.

^

•

\

EXPORT SPIRITS BONDS.
0

Number of export bonds for distilled spirits
4,340
Aggregate penal sum of such bonds - J
|114, 563,221 20
Tax covered by bonds in hands of United States attorney for s u i t . . . •
7, 892 10
MISCELLANEOUS.

Penal sum of bonds covering spirits withdrawn for scientific purposes.
Penal sum of bonds withdrawn for transfer to manufacturing warehouses
:

' .

$158,232 60
1,171, 035 00

ISTo judgments haA^e been rendered upon bonds of this description. .




COMMISSIONER OF INTERNAL REVENUE.

79

ACCOUNTABILITY FOR STAMPS RECEIVED.

A committee was appointed on the 7th June last at my request to
count the stamps on hand in the A^aults of this office, and to verify the
account of stamps received and issued. The committee consisted of
Mr. T. L. De Land, Office of the Secretary of the Treasury; Mr. S. C.
Clarke, First Comptroller's Office, and Mr. Y. N. Stiles, Fifth Auditor's
Office. The committee was furnished with a statement showing the
transactions in stamps from October 4,1877 (the date of the transfer of the
stock of stamps to this Bureau by the New York Bank Kote Companies,
and the commencement of printing of stamps by the Bureau of Engraving and Printing), to June 10, 1882 (the date of the commencement of
work by the committee). The total number of stamps received during the
period Avas 2,544,344,342; value, $711,180,978.63; issued, 2,381,155,648;
value, $668,974,384.46; leaving the balance on hand June 10, 1882,
163,188,694 stamps; A-alue, $42,206,594.17. The balance of stamps was
counted under the direction of the committee and found to be correct to
a stamp, and the value agreed to a cent with the balance shown by the
books of this office. This immense quantity of stamps has been received, counted, and issued without an error resulting in the loss of a
stamp.
A detailed statement showing the number and value of the stamps
receiA^ed and issued during the six years, and of the balauce remaining
on hand, is given at page 92 of this report.
GENERAL CONDITION OF THE SERVICE.

The condition of the service is all that can be desired. The reports
of the inspecting officers shoAv that an admirable esprit de corps actuates
every officer in the performance of his duties.
I desire to extend my thanks to the officers of internal re Avenue
throughout the country for their zeal and energy in bringing about this
result. The thanks of this office are also due to the United States marshals for their hearty co-operation with the internal-revenue officers in
enforcing the laAVS.
D I S T I L L E D SPIRITS IN BOND.

Some months ago many of the leading sweet-mash distillers made an
arrangement for a reduction of the producing capacity of their distilleries, and for limiting the manufacture of their line of distilled spirits
to the demands of the trade. They haA^e recentl}^ been followed by a
large nnmber of sour-mash distillers with a somewhat similar arrangement. The effect will be to cut down the production of all classes of
distilled spirits to the demands of the trade.
On the 30th dayof June,1882, the spirits remaining in warehouses reached
the highest point, namely, 89,962,645 gallons. Since that time there has
been a gradual reduction in the amount remaining in wa.rehouses, and
on the 1st day of FoA^ember, 1882, the amount was 84,628,331 gallons.
This large stock mainly consists of fine grades of whisky, the tax upon
which, will fall due from month to month until the last withdrawal,
which must be made NoA^ember 6, 1885.
If the future demand for this class of goods is to be judged of by the
withdrawals of similar goods tax-paid during the past few years, the
stock now on hand is equal to six years' consumption. To postpone the
payment of the tax on this stock until its withdrawal is required b y t h e



80

REPORT ON THE FINANCES.

demands of trade, a movement has been set on foot for its exportation
and reimportation, and storage in customs bonded warehouses. This is
entirely practicable, under exisiting laws, and it becomes a question
whether it would not be better to afford by legislation the relief sought
to be obtained by this indirect means. An extension of the bonded
period for a reasonable time need not impair the security of the government for its taxes, and would in no manner tend to reduce the income
of the gOA^ernment from this source of revenue which has up to this
period resulted from the natural laws of trade and the demand for distilled spirits for consumption. By this means the expenses of transportation both ways and custom-house charges abroad would be saA'^ed.
THE ENFORCEMENT OF THE LAAV"S.

It affords me great pleasure to report that the supremacy of the laws
of the United States for the collection of its inte^rnal revenues has been
established in all parts of the country. Frauds in the manufacture and
saleof whisky and tobacco in the districts where they liaA^e hitherto
most prevailed have beconie the exception rather than the rule; There
is no longer organized resistance to the authority of the gOA^ernment^
the people render obedience to the laws, and the taxes are collected
without unnecessary friction and with but little litigation. To maintain
this favorable condition of things and to prevent the recurrence of
frauds it will be necessary to continue the system of careful policing
Avhich has brought about this result.
I have to record Avith extreme regret, as signalizing: the closing hours
of the long struggle maintained against the enforcement of the internalrevenue laAVS, the murder of .Deputy Collector James M. Davis, near
McMinnville, Tenn., in March last. Captain Davis was one of the
bravest and most efficient officers engaged in the suppression of illicit
distilling. Whilst on his w^j from court he Avas waylaid on the public ,
highway in broad daylight by ten or more assassins, concealed behind
an ambush of logs and bushes specially constructed for the purpose, and
was deliberately murdered under circumstances of peculiar atrocity whilst
bravely defending himself to the last. The place Avhere this crime was
committed is in the midst of a well-settled country. There is circumstantial CAadence that the assassination was plotted in a place of public
resort not far from the scene of the murder. Citizens rode by Avhilst
Davis's body was still warm and before his slayers were fairly out of
sight, yet, though liberal rewards have been, offered for the detection
and arrest of the criminals, no evidence has yet been obtained upon
which an arrest could be based.
PENSIONS TO AAaDOAVS AND ORPHANS OF OFFICERS K I L L E D .

The successful close of the struggle to establish and maintain the
internal-revenue laws of the Unitecl States is in my opinion a fitting
occasion to renew the recommendation in my last report for the granting of pensions to persons disabled while eugaged in enforcing said
laws, and to the Avidows and orphans of officers killed in the discharge
of their duty. The service in which these officers were engaged was particularly hazardous. No alternative being left except to meet force with
force, they were armed by the government with breech-loading carbines
to protect themselves against the assaults of those who resisted its authority. In this struggle thirty-one officers and employes haA^e been
killed and sixty-four wounded. I respectfully subniit that these wounded
officers and the widows and orphans of those Avho have been slain have
a just claim upon the bounty of the goA^ernment,and I earnestly recommend early legislation upon the subject.



COMMISSIONER OF INTERNAL

81

REVENUE.

OPERATIONS AGAINST ILLICIT D I S T I L L E R S .

The following statement shows the number of illicit stills seized, persons arrested, and officers and employes killed and Avounded during the
last fiscal year, and from June 30 to JsToA^ember 1, 1882:
Stills seiz ed.

n : .1
Second Alabania

. ..

F i r s t California ...D i s t r i c t of Klorida
S e c o n d (reor^'ia
T k i r d G-eoro"aa
F o u r t h Illinois
T h i r t e e n t h Illinois
Third Iowa
Second K e i i t i i c k v
Fifth Kentucky
Eighth Kentucky
IJiBth K e n t u c k y
D i s t r i c t of L o u i s i a n a
F i r s t Minnesota

.

5 '
0
1

...

"

6
109
9
1

..

1
2
4
4
1
38
6
3
1
1
2
2

. . . .
...--..

.

....

Second M i s s o u r i
Fifth Missouri
S i x t h Missouri
Fifth New Jersey
First New York
S e c o n d ^N^orth C a r o l i n a
Fourth. North Carolina
Fiftii N o r t h Carolina
Sixth N o r t h Carolina
F i r s t Ohio
Nineteenth P e n n s y l v a n i a . : . . . .
Twenty-second Pennsylvania . . . . .
D i s t r i c t of S o u t h C a r o l i n a .
Second Tennessee . :
Fifth Tennessee
Eighth Tennessee
Fourth Texas
D i s t r i c t of V e r m o n t
Third Virginia
.'.
Fifth Virginia
Sixtli Virginia
Second W e s t V i r g i n i a
Second AA^isconsin
Sixth Wisconsin
Utah
. .
.

i C)
T

3

7
2
3

"i
i"

i'

i

44
4
1
3
.

10
4

t
1

i
16
1

1

1
6
116
9
3
3
1
2
4
5,
1
39
6
3
1
1
2
2
1
1
1
27 .
61
81
1
1
1
60
8
17
4
1
3
11
4

'
L
.

Total

^

1
1
1

1
1
1
464

46

•

•

13
<v

I

3

d
0

1

8

10

i'

1
1
23
58
80
1

•

Since Juue
30.

; .During fiscal year.

Distri'cts.

P

Officers
and
e m p 10 y 6 s
killed
and^
wounded.

Persons arrested.

j

.

509

48
4

48
•4

10
732 " " 3 3 7 '
8

4
36
5
1
39
72
5

10
1,069
8

-2

. 4.

i

36

•

1
39
72
•5

::..:::.

io

"

j

10

1

1

10
9
14
113

10
9
14
113

'

2

. 2

26
20
18
15
6
2
43
3
16
3
1

26
20'
18

i'

1

15
0
•
2
•43
3
• 17
. 3

i

1 ^?c
1, 277

1

1
194

1,471

4

* Informers.

Taylor LoA^e was killed on the 2d of November, 1881, in Habersham
County, second district of Georgia, for giving information to internalrevenue officers in regard to illicit spirits seized.
Lee Turner was killed in March, 1882, in Grwinnett County, second
district of Oeorgia, for informing internal-revenue officers in regard to
illicit stillSi
.
Deputy Collector Thomas L. Brayton Avas killed in Pickens County,
South Carolina, July 20,1881, by John McDow, an illicit distiller, whose
still he had seized and whom he was endeaA^oring to arrest.
Deputy Collector James M. DaAas was killed by illicit distillers, near
McMinuville, Warren County, Tennessee, March 13,1882.
6 F



82

REPORT ON THE FINANCES.
ORDNANCE IN THE HANDS OF COLLECTORS.

There is in the hands of the collectors and others, for the enforcement
of the laws, the following described ordnance, for which they are"responsible:
,
03

6
02

•as

o
Name.

II

bJO
fl

1

ft
xn

James T. Rapier
Second Alabaina
Floiida
Dennis Eagan
Second Georgia
AV. H. Johnson
L. M. Pleasant
Thiid Georgia
Louisiana
Morris M arks
°.
Fourth Nortli Carolina .
I. J. Youngs
,
Oeorge B. Everitt
Fiftii North Carolina . . .
T. N. Cooper
Sixth North Carolina . . . '""%
E.M. Brayton
, . . . South Carolina
J. M. Melton
Second Tennessee
] .*
•A. M. Hughes, jr
Fiftii Tennessee
'
B. F. Patterson
Eighth Tennessee
!
Fifth Vir.o'inia
J. H. Rives
F. H. Pierpont
1 Secoud West Vir.oini;:!, ..
o
Jacob AVagner, revenue agent.
T. C. Trade, revenue anent
•
:
:

%
%

o

District.
bl)

Total

o

.

8

6
5
59
12
6
10
11
8
13
10

r.
•o
M

fli
cfl

ft
ci

<v

fl

s

ce
o
"o
S

o

c3

Ul-

§
ft
• bn

•5.
B

<
!
1

27 : : : : : : | " " ' 2 7 '

'""i

• 6
10

2

8

24
6
1
12

1

1

1

1

9.

188 '

• fi

53

3

2

\
.

13

1

1

1

4

1

1

45

3

1

TERB'I OF OFFICE OF COLLECTORS.
, I have the honor to again recommend that a laAv be passed fixing the
term of office for collectors of internal revenue at four years, and I further recommend that sa:id law shall provide that collectors of internal
revenue shall not be subject to removal except for such causes as are
designated in said law. I am satisfied that the incorporation into
the civil service ofthe principle of a fixed term and removal for cause
only, would result in a marked improvement in the public service, and
would meet what I seems to me a just and growing deinand of public
opinion.
' ,
FIXED SALARIES FOR UNITED STATES MARSHALS AND DISTRICT ATTORNEY'S.
I respectfully call attention to the remarks under this head in my last
annual report, and again recommend legislation in accordance AN^ith the
recommendation therein contained.
REDEMPTION OF STAMPS.
I rencAv the recommendation made in my last two reports that that
^portion.of section 17 of the act of March 1, 1879, which prohibits the
redemption of stamps unless the same are presented within three years
after their purchase from the government or a government agent fo^^
the sale of stamps, be repealed.




COMMISSIONER OF INTERNAL REVENIJE.

'

83

LEGISLATION CONCERNING MANUFACTURE OF .VINEGAR.
I also renew the recommendation made in previous reports for the
passage of a law prohibiting the manufacture of vinegar by the alcoholic A^aporizing process provided for in section 5 of the act of March
I, 1879, or subjecting A'-inegar factories using the A^aporizing process to
the supervision of a gOA'ernment storekeeper, and to a certain extent
to other safeguards, as now required in the case of distillers of spirits.
Further experience onlj^ confirms th6 opinion Avhich I haA'-e heretofore
expressed of the necessity for the indicated legislation for the protection of the reA-enue from dangerous frauds. Should it be deemed best'
to continue the present system, under suitable safeguards, it might, be
well to make such additional provisions as will xiermit the manufacturer to fully avail himself of the right to condense alcoholic vapor without the waste of material incident to the present process. The compensation of store-keeper, if proAdded, should be reimbursed to the government by the manufacturer.
EXAMINATION OF C^LUCOSE AND METHYLATED SPIRITS.
At the request of the Committee of Ways and Means of the House
of Eepresentatives I am having an examination made of a number of
samples of glucose, both dry and sirup, for the purpose of testing its
saccharine qualities and health fulness.
> Tests are also being made of methjdated spirits to determine AA^hether
alcohol mixed with wood naphtha can be restored to its original purity.
These experiments are being made by the Academy of Sciences, and reports are IIOAV expected, when they will be transmitted for the information of the committee.
MISCELLANEOUS EXPENSES.
The act of Congress approved March 3,1881, making provision for the
legislative, executive, and judicial expenses for the year ending June
30,1882, required the Commissioner of Internal Eevenue to make a detailed statement of all miscellaneous expenditures in the Bureau of Internal Eevenue, for which appropriation was made in that act. In accordance with the aforesaid requirement, I submit the following detailed
statement of miscellaneous expenses incurred:
Express OD public money to depositories
Stationery for internal-revenue officers
Internal-Revenue Record for.internal-revenue officers
Telegraphing
,
Compeusation of United States attorneys in internal-revenue cases, under
sections 827 and 838, Revised Statutes
-. .
>
Locks for distilleries
Hydrometers for use in gauging spirits
Oauging-rods for standard-test gauging, &c
Alcohol for scientific tests
j.
Expenses of seizure and sales by collectors.
Coin scales for use in collectors' offices
Traveling expenses of clerks uuder special orders of the department
Rent of offices leased by the Secretary of the Treasury in New York City for
the collector of the second district
:
Total

.-:

EXPENDITURBS FOU THE DISCOVERY AND PUNISHMENT

$7,040
17, 980
2, 409
1,139

51
10
80
77

4, 555
3,922
5, 736
157
82
889
100
1,163

60
50
20
45
19
04
40 "
93
z
4, 999 96

50,177 45
OF FRAUD.

Ill accordance with the provisions of the act making the appropriation, the following detailed statement of expenditures from the appro


84

REPORT

ON T H E

FINANCES.

priatioii for. detecting and bringing to trial and punishment persons
guilty of Aaolating the internal-revenue laws is submitted/
Amount' expended through collectors of internal revenue in the employment of persons for the detection of frauds, and for information
leading to the discoA^ery of frauds, and punishment of guilty persons,
as follows:
Name.

District.

Brayton, E. M . . . .
Blaine, John E
Clark, AndreAY —
Cooper, H. M
JDuval, I. H
Everitt, G. B
Eagan, Dennis
Harvey, J . D
Hartson, C
Johnson, W. H .'.L^mdram, AV. J . . .
Mott, J . J
Melton, J . M . . . . . .
Patterson, R. F . . .
Pollock, W. J
Rives, J. H
Rapier, J . T
Stuart, W. A
Sirapson, J. E
Wilson, W . S
Woodcock, AV. M.
Wade, E. C
Young, I. J

Amouut.

.South CaroUna
Ninth ICentucky
Secoud Georgia"
Arkansas
Eirst AVest Virginia ..
Eifth North Carolina .
Elorida
Eirst Illinois
First Calitbrnia
Second Georgia
Eightli Kentiicky
Sixth North Carolina...
Second Tennessee
Eighth Tennessee
Fii-st Pennsylvania
Fifth A^rtdnia
Second Alahama
Second Kentucky
Third Iowa

$1, 366 00
178 00
2, 636 00
45 00
44 00
151 80
295 91
38- 96
15 00
104 00
1,189 00
408. 00
. 151 00
'263 30
251 00
549 50
471 50
53 00
50 00
258 20
1, 404 55
.285 00
263 00

Fifth Kentucky
Fifth Tennessee
Third Georgia
Fourth North Carolina.

Total dishursed hy collectors .

10, 471 78

Amount expended for like purpose through rcA^enue agents as follows:
•
.
Narae.

Amoimt.
$7, 724 60
609 63
-1,208 88
168 50
352 20
1, 475 22
389 63

Brooks, A. H
Blocker, 0. H
Chapman, W. H
Crane, A. M
Creager, M. H
Dowling, P . H
Eldridge, C.W
Grimeson, T. J
..
Hale, J . H
Kinney, T. J
Kellogg, H . .
Meyer, F
McCoy, J . B
Packard, J
Raum, J. M
Somerville, William.
Spaulding, D. D . . . . .
Tracie, T. C
Thrasher, L. A
Trumhull. J. L
Wehster, E. D
Wilson, G-. AV
Wheeler, J . C
AVagner, J

1.121 50
104 00
1,186 94
800 95
1, 645 80
5. 50
2, 318 44
1, 441 54
4,175 48
1..50
683 75
2.122 61
178 20
1, 324 98
721 55
56 00
237 25

Total dishursed hy revenue agents .
.A^mount expended by collectors
Amouut expended by revenue agents
Rewards uuder circular No. 99
•
Rewards-under circular of March 10^ 1875
-JMiscellaneous
1...,
,
Total




30, 054 65

,
.........)

,

|10, 471
30, 054
'5,103
806
5, 580

78
65
27
25
00

$52,015 95

COMMISSIONER OF INTERNAL REVENUE.

85

The accounts for expenditures under this appropriation are rendered
monthly, with an itemized statement, andin all cases supported, by subAvouch ers duly sworn to.^ These accounts pass through all the accounting offices of the Treasury Department, and are filed in the Eegister's
Office.
'
'
*
ESTIMATED EXPENSES FOR NEXT FISCAL YEAR.

I estimate the expenses of the Internal-EcA^enue SerAice foi*the fiscai
year ending June 30, 1884, as follows.
For salaries and expenses of collectors
$2,100, 000 00
For salaries and expenses of thirty-fi.ve revenue agents, for surveyors,
for fees and expenses of gaugers, for salaries of storekeepers, aud for
miscellaneous expenses
2, 300, 000 00
For dies, paper, and stamps
500, 000 00
For detecting and bringing to trial and i)iniishment persons guilty of
violating the internal-revenue la;ws, including payment for information and detection
75, 000 00
For salaries of officers, clerks, and emj^loy^s in the office of the Commissioner of Internal Reven ue
,
299,190 0^0
Total

.-

:

.:....-...

,..--:

5,274,190 00

SCALE OF SALARIES OF COLLECTORS.

The recommendations made for the salaries of collectors for the fiscal
year ending June 30,1883, are based upon an estimate of their probable
collections according to the following scale, with the qualification that
if the actual collections should vary from the amounts estimated the
salaries will be readjusted at the end of the fiscal year:
.For collection of—
|25, OOO'm- less
25,000 to $37,500—112,500
37, 500 to 50, 000— 12, 500 ....:
50, 000 to 75, 000— 25,.000
75, 000 to 100, 000— 25, 000
100,000 to 125, 000— 25, 000
125, 000 to 175, 000— 50, 000
175, 000 to 225, 000— 50, 000
225,000 to 275, 000— 50, 000
275, 000 to 325, 000— 50, 000
325, 000 to 375,000— 50,000
375, 000 to 425, 000— 50,000
425, 000 to 475, 000-50, 000
475, 000 to 550, 000— 75, 000
550, 000 to 625, 000— 75, 000
625, 000 to 700, 000— 75, 000
7,00, 000 to 775, 000— 75, 000

'

'

'.......

:

1
:

,

$2, 000
2,125
2,250
2, 375
2, 500
- 2,625
.... 2, 750
2,875
3,000 ,
• 3,125
.
3,:350
3,375
3,500
3,625
3, 750
3,875
4, 000

O F F E R S IN COMPROMISE.

, The following statement shows the nmnber of ofiers received and accepted in compromise cases for the fiscal year ended June 30, 1882, with




86'

REPORT ON T H E

FINANCES.

amount of tax, assessed penalty, and specific penalty accepted, as provided under section 3229-EcA^ised Statutes:
Compromise
otters. Months.
-3 f ^

.1881.
July
August
September.*
October
November
Deceniber

$17, 213 89
220 72
42, 911 11
1, 343 52
2, 087 00

:..

,$184 99
101 04
1,333 54
52 08
37 00

$4, 921 70
2, 819 93
435 83
1, 756 00
2, 224 58
3, 810 00

$22, 320
3,141
435
46, 000
3,620
5, 934

58
69
83
65
18
00

5, 451
1, 460
4, 418
11, 651
2, 223
2, 322

6,126
1,596
.14,362
53,224
14, 567
40,192

91
91
90
56
82
65

1882.
January
February
M a r c h .'.
April
May
June

8'7
76
108
157
•94
61

"...

131
125

Total

542
134
9, 929
41, 557
12,222
37,820

48
62
90
95
83
07

165, 984 09 I

133
• 2
15
15
121
50

33
29
00
00
88
00

2, 046 15

10
00
00
6i
11
58

43, 494 44

I

211, 524 68

. 1

AAHiole number of offers received
AVhole number of offers accepted

931
808

Amount of t a x accepted
$165,984 09
Amount of assessed penalty tixed by law
2,046 15
Amouut of specific penalty, in lieu of fines, forfeitures, and p e n a l t i e s . . . .
43, 494 44
Total

•-..-

211,524 68

EXAMINATION OF COLLECTORS' OFFICES.

The examination of the accounts of collectors has been continued during the past year with the usual gratifying results.
OFFICIAL FORCE.

The force connected with this Bureiau in the various districts th roughout the United States is as follows:
One hundred and twenty-six collectors, >
vho receive salaries as follows :
Thirty
Five
Three
Four
Two
Two
Three...
Two
Four
Two




.-

,*4. 500
4,375
4,250
• 4,125
4,000
: • 3,875
3,750
3,625
3,500
3,375

Six.:'
Nine
Twelve
Seven
Ten

, Four
Fourteen
Three
Two
T wo

•

$3,250
'.. ^. . , 3,125
3,000
2, 875
2, 750
2, 625
2, 500
2, 375
2,250
2,125

COMMISSIONER OF INTERNAL

87

REVENUE.

There are also employed nine hundred and seventy-six deputy collectors, Avho receive salaries and traveling expenses as follows:
One^
'
Nineteen
One
Nine
Two
'•....
Fifty
One
Thirty-four.
Twelve
.
One
Sixty-six
One
Twenty-two
Ninety-four
Thirty
Two huudred and four
Twenty-one
Eighty-four
One
Thirteen
Ninetv
One
Seventeen
Thirty-five
,.

:.

$3, 000
2, 000
1,950
1,900
1,850
1,800
1,750
1,700
1,650
1,625
1, 600
1,575
1, 550
1, 500
1, 450
1,400
1, 350
1, 300
1,275
1,250
1,200
1,175
1,150
1,100

Twelve
Thirty-two .
One-...:
Six..-.:
Twenty-three.
One
One
Eight
Three
Eight
One'.
Eleven
Thirteen
Four - One
One
Nineteen
Five
One
Ten
Two
Two
One
One

^.
.

.•

:.

...'.
^

.........
i...
'..

| 1 , 050
1,000
970
950
900
875
850
800
750
700
660
600
500
400
360
350
300
250
240
200
150
120
100
60

Total: Nine hundred and seventy-six.

Also, one hundred and ninety-nine clerks, messengers, and janitors,
who receiA^e salaries as follows:
One clerk
Two clerks
....
Three clerks
Ten clerks
Two clerks . . . . . . . .
Four clerks
Thirty-two clerks..
Four clerks
Fifteen clerks
.
Nineteen clerks
Thirty-four clerks
Seventeen clerks..
Two clerks
One clerk..
Two clerks . . . . . . . .
Six clerks
.'
Two clerks

|1,.700 Two clerks
1,600 Eleven clerks
1,500 Nine clerks
1,400 Two clerks
1,350 'Oneclerk
1,300 Four clerks
200 Oneclerk
150 One janitor
100 One janitor
000 One janitor
900 One janitor
800 One messenger...
750 One messenger...
725 .Four messengers.
720 One XDorter'
700 One porter .
675 One porter

600
500
450
400
300
200
300
120
100
75
600
450
300
360
300
100

There are also employed 807 gaugers, who receiA^e fees not to exceed
$5 x^er diem 5 1,000 storekeepers and gaugers, who receive not to exceed
$4 per diem.; 552 storekeepers, who receive not to exceed $4 per diem
(all of the foregoing officers are paid only when actually employed); and
30 tobacco inspectors, who receive fees to be paid by the manufacturers.
Storekeepers and gaugers assigned to distilleries of a capacity not
exceeding twent}^ bushels receive but $3 per diem.
CONDITION OF THE OFFICE.

The Avork of the office has been brought up todate, andthe diligence and
faithfulness to duty of the force leave nothing to be desired in the conduct of the business. For this gratifying condition of afi'airs I again
extend my thanks to the officers and clerks of the Bureau.
*The deputy at $3,000 is employed on legacy and succession taxes and is required
to travel to different parts ofthe country, his traveling allowance being $1,200.




88

REPORT O.N THE FINANCES.
R E P O R T OF AA^ORK PERFORMED.

The work performed by the difierent divisions of the office duringthe
fiscal year ended June 30, 1882, is shown by the following statement:
DIVISIOIS^ OF'LAAV.

°

o

Oilers in compromise briefed
1,009
.OpinionS'prepared
970
Offers in compromise acted upon
897
.Reward claims acted upon
116
Railroad cases adj usted . •.
8
Orders for abatement of taxes issued
.- - - 455
Claims for abatement of taxes disposed of
2, 530
Amount of abatement claims allowed (uncollectible)
$576,969 42
Amouut of abatement claims alio wed (erroneous assessment)
$1,657,563 31
Amount of abatemen t claims rejected (uncollectible)
•.
'.
$559, 010 61
. Amount of abatement claims rejected (assessment claimed to be erroneous)
,.•
...->• $367,221 80
Claims for abatement of taxes returned for amendment
". - . .
353
Claims for refunding of daxes disposed of.-:.'...
237
Amount of refund ing cl;.i.ims allowed
-.'...
$90,139.98
Amount of refunding claims rejected
$66, 228 28
• Claims for refunding of taxes returned for amendment
84
Claims for abatement of taxes disi)Osed of during i b u r mouths ended
Octob.er 31, ,1882
"
759
DIVIS10.V o r

DISTILLED SPIRITS.

Returns and reports relating to distilled si>irits examined and disposed
of
:
:
-....
Returns and reports relating to fermented liriuors examined and disposed of
...--..-.
Computations of capacities of distilleries made and data for assessment
furnished
Locks examined aud issued
.^......
Hydrometer sets, stems, cups, and thermometers tested and issued
Gauging-rods examined and issued
Wantage-rods examined and issued
D I V I S I O N O F TOBACCO,

Reports relating to tobacco examined and disposed of
Reports relating to cigars examined and disposed of
Abatement and refunding claims audited

215,762
31,453
.
^ 16, 363
2,209
1,196
114
'.
Il4
.

'

1,690
24,109
190

DIVISION OF STAMPS.

Value of stamps received from printer and counted
$217, 083,834 39
Value of stamps counted and transmitted to Secretary of the Treasury
for destruction
$1, 771,490 98
Number of mail i>ackages of stamps sent frpm stanrp vault
25,068
Number of exx;)ress packages of stanips sent from stamx^ A^ault
•3,416
Nnmber of coupou books forwarded to Fiftii Auditor
25, 357
Number of coupons recei ved for credit and counted
42,828,177
Number of stubs examined
:
'
10,216,140
Nuniber of reports examined and disposed of
..":..26,518
Auiount of claims for redemption of stamjjs allowed
$25,246 18
Araount of claims for exchauge of stamps allowed
40,767 30
Amount of claitiis for release of duplicate charges allowed
61,7.52 70
DIVISION O F ASSESSMENJ'S.

Reports relating to assessments examined and disposed of
Reports relating to bonded accounts examined and disjiosedof.. .>...
Reports and vouchers relatlAe to exyjortations examined and disposed of
Clairas for drawbacks disposed of
^




,

49,161
435,723
254,261
1,026

COMMISSIONER OF INTERNAL REVENUE.
DIVISI0.\

89

OFc.ACGOUNTS.

Wt-'okly reports examined and disposed of
Monthly rexDorts examined and disposed of
,
Quai'terly reports examined and disposed ot"
Miscellaneous accounts exarained and disposed of
L
Fi ual accouuts of collectors referred for settlement....,
J. Certiticates of deposit recorded
-•
Drafts mailed to collectors for expenses of office
Drafts mailed to collectors for gangers' fees and expenses
Drafts mailed to collectors for transfer of special, deposits
Drafts mailed to collectors for compromise offers returned
Collectors' monthly reports of taxes, &c., consolidated into yearly
statements ..:..'.'

5, 329
21,583
609
691
^ 39
35,121
1,505
7,842
637
59
2, 621 .

DIA'ISION OV REAnSNUE A G E N T S .

Reports of reveuue ageuts disposed of
Keports of collectoi-s relati ve to illicit distillers disposed of
Accounts of revenue agents examined
Miscellaneous expense accouuts exarained
Raihoad and inco.rae cases examined and reported on
Ti'anscripts of books of leaf-tobacco dealers examined and. abstracted.
Quarterly returns of ordnauce aud orduance stores in hands of collector.^ examiued
^
i

.

1, 928
2l9
800
254 ,
20
3, 040
74

DIA^ISION O F APPOINTMJi^NTS, R E C O R D S , A N D F I L E S .

Corauiissions of collectors recorded, collectors notified, and blank bonds
prepared.
:
,
.
Bonds of collectors recorded..«
Disbui'sing bonds^recorded
Commissions of storekeepers, storekeex.)ers and gaugers, gaugers and
tobacco inspectors recorded aud appointees notified
Bondsof storekeepers, storekeepers and gaugers, gaugers and tobacco
iuspectorsi examined
,
Assignments of storekeexiers, storekeepers and gaugers, and gaugers
recorded
^
Reports of inspecting officers on condition of service in collection districts examined and acted on
....."
Reports of examining oflicers on condition of collectors' offices exa.n'iined and acted on
Letters for entire Bureau recei ved and registered
Letters briefed andfiled
Aggregate number of letters mailed by the Bureau
Pages of letters mailed recorded
Press-copies of letters briefed, registered, and arranged for reference.
Pages of miscellaneous copying
Blank forms prexiared and issued
Biank books prepared and issued.,

16
25
23
365
437
6,879
26
479
40, 432
30,432
60,747
24,723
42,724
22,067
7, 949,826
14,479

AA^ORK OF REVENUE AGENTS.

Thirty-five revenue agents have been emx:)loyed during the xiast year:
1 as chief of di\ision in this office, 24 in charge of divisions, 4 employed
in examining collectors' accounts, and 6 in assisting agents in charge of
di\'isions. Seventeen hundred and thirty-fiA^e violations of law haA^e been reported by revenue agents during the year; 851 x>crsons have
been ^^rrested on their information; x^^'^^PQ^'ty to the A-alue of $120,716.96
has been reported by them for seizure and for assessment for unpaid
taxes; and xienalties amountiug to $670,671.04 have been reported by .
thera.
.
'
/
There has been expended from the appropriation for salaries and expenses of revenue agents during the year as follows :
Aggregate salary of ageuts
$78,852 00
Aggregate amount for traveling exjjenses . -.^ 42, 642 2.^
Stationery furnished agents
,
175 99
Trausportation over Pacific railroads uuder orders from Treasury Depart• ment
\.
1,176 2 5 '
Total



-.

122,846 49 •

'90

REPORT ON T H E

FINANCES.

SALARIES.

I have the honor to recommend that Oongress appropriate for the
fiscal year ending June 30, 1884, the sum of $299,190 as salaries for the
following officers, clerks, and employes in this Bureau:
One Commissioner, at
One dexiuty commissioner, at
Two heads of divisiou, at
Five heads of division, at
'.
One superintendent of stamp ageucies, at
One superintendent of stamx) vault, at
One stenographer, at
:
Twenty-four clerks, at
. . . ^..
Twenty-five clerks, at
Thirty-six clerks, at
,
Twenty-four clerks, at
Fourteen clerks, at
•
Seventy-n ine clerks, at
Two messengers, at
Fourteen assistant messeugers, at
Thirteen laborers, at
Au'aggregate of tAvo hundred and forty three persons.

:
•
:

•.

$6, 000
3,200
v2, 500
2, 250
'. 2,100
2, 000
1,800
1, 800 ^
1; 600
1, 400,
1,200
1, 000
900
840
720
660

I also recommend the apiiropriation of the sum of $5,900 as salaries
for two stamp agents, at $1,600, and three counters, at $900, the same to
be reimbursed by the stamp manufacturers as ])rovided by the act of
August 5, 1882.' ^
o
MANUFACTURE OF P A P E R .

During the fiscal year there has been inanufactured by Messrs. S. D.
Warren & Co., of Boston, under the contract entered into May 24, 1880,
492,709 pounds of paper for internal-reA^enue stainps. The rates paid
Avere l l | cents per xDouiid for A^egetable-sized xiaper and 12J cents x^er
pound for animal-sized.
On the 19th of September, 1882, a contract was made with the Fairchild Paper Comxiany, of Boston, Mass., the rates being lOf cents x^^r
pound for A'egetable-sized and l l f cents x^er pound for animal-sized X3ax:)er.
Orders for the manufacture of 210,000 pounds have been given under
this new contract. The xDax^er furnished has been of satisfactory quality,
and orders have been xiromptly executed.
"
PRODUCTION OF STAMPS.

During the last fiscal year all internal-revenue stamps have been produced by the Bureau of EngraAing and Printing, except stamps imX3rinted upon bank checks, which haA^e been supplied by the Grrax>hic
Gompany, of Kew York Oit^^, and stamps upon foil AA^rax^pers for tobacco,
AA-hich* have been X3rinted by John J. Orooke & Oo., of 'Eew York. All
work done bythe GraxDhic Oomx3anyand Messrs. Orooke & Oo. is under
the superintendence of this office.
NUMBER AND VALUE OF STAMPS ISSUED.
During the fiscal year stamxis Avere received by this office from the
X^rinters .and issued to collectors, agents, and xDiirchasers as follows, viz;
Kincl.
Staraps
Staraps
Staraps
Staraps
Stamps
Stamps
Stamps
Stamps

,
!

for distilled spirits, tax-paid
for distilled spirits, other than tax-paid
for distilled spirits, aggregate
-for tohacco and snuif
...for cigars and cigarettes
for fermented liquors and hrewers' ])errait;s .
for special taxes
-..
for documents and proprietary.articles^.....

Total




Xumber.
I
« . I
•

I

A^alne.

1,'356,-300
$70, 433, 280 00
4, 400, 700
10,'120 00
5, 757, 000 70, 443, 400 00
251,198, 715
31, 086, 953 06
95, 970, 595
19, 718, 297 80
57, 665, 920
17, 423,167 50
10,428,200 00
787, 050
495,142, 495
6 331, 419 63
,

906,521,775

155,431,437 99

COMMISSIONER OF INTERNAL REVENUE.,

91

A l l stamxDS delivered to this office b y t h e B u r e a u of EngraAang a n d
P r i n t i n g were, on their receipt, counted a n d placed intlit) A^aults. T h e
stamxis issued were p u t u p in 28,484 p a c k a g e s , 25,068 of which were
shipped b y r e g i s t e r e d mail and 3,416 b y exxDress, a n d were t r a n s p o r t e d
a n d deliA^ered w i t h o u t loss. T h e officers of t h e W a s h i n g t o n Oity xDOstoffice are h e r e b y t e n d e r e d t h e t h a n k s of this office for t h e p r o m p t and
faithful i n a n n e r in which^the registered mail h a s been disposed of b y
them.
MATCH STAMPS SOLD.
^AMOUNT of STAMPS SOLD to MATCH MANUFACTUBEBS DUBING the FOLLOWING FISCAL YEABS, COMMISSIONS NOT DEDUCTED.
1876.
1877
1878
1879
1880
1881
1882




$2,849,524 00
2,982,275 00
3,064,574 00
3,357,251 00
'3,561,300 OO
;3,.606,437 62
3,272,258 00

' •

STAMPS R E C E I V E D AND

isstri'^D

FROM O C T O B E R

4,1877,

TO

J U N E - 1 0 , 1882.

INS

STATEMENT slibwimj N U M B E B and VALUE of STAMPS B E C E I V E D and I S S U E D hy T H E INTEBNAL B E V E N U E B U B E A U from OCTOB E B 4, 1877, to J U N E 10, 1882, and BALANCE ON H A N D J U N E 10, 1882. .

Stamps received from printers.!
i._

Kind.
Numher.
Tohacco, snuff, cigar, and cigarette
Tax-paid-spirit . . :
Special tax
Permented liquors
Documentary and proi^rietarv . . . :
Privatedie
".
Other than tax-paid spirit
Brewers' permits
Totals.




:
^

1

Value.

i 1,382, 220,461 $250, 285,607 89
'
7,106,700 331, 667, 700 00
50, 973, 270 00
!
3, 612,850
389, 831 67
I
222, 720, 824
234, 687 13
i
164, 601,474
629, 881 94
i
744,978,133
value,
18, 613, 500
value.
!
490,400
2,544,344,342

711,180, 978 63

i

Stamps issued.
^

l^umher.

„

_^

•

Stamps onhand June 10, 1883
..

j

Value.

'

, 330, 445, 258$240,904,540 58
6, 544, 250 304, 727, 430 00
3, .5.57, 760 49,764,770 00
212, 363, 844 ! 63, 048, 890 00
149,114, 884
2, 869,123 77
061, 662, 052
7, 659, 630 11 .
17, 016, 800 No value.
450, 800 ITo value.

2, 381,155, 648 668, 974, 384 46

Numher.

Value.

51, 775,
562,
55
10, 356'
15, 486,
83, 316,
1, 596,

$9, 381, 067 31
26, 940, 270 00
1. 208, 500 00
3, 340, 941 67
365, 563 36
970, 251 83
Ne value.
Jfo value.

163,188, 094

Pi

te
O
Pi
H
O

42, 206, 594 17

o
m
Ul

NUMBER OF SPECIAL-TAX PAYERS.
The following table shows the number of persons who paid special taxes in each State and Territoiy duriiig the
special-tax year ended April 30,1882. The amount of special taxes paid during the same period will be found on pages
145 to 151 of the tables accomxianying this report:

1
S

^

S •

e3
©

o

'i

£
2

1

0

®-

1

o

Alahama
Arizona
Arliansas
CaUfornia
Colorado
Counecticut
DalvOta
Delaware
Florida
Georgia

•
.
-

114
- 18
14
.

.
2
-..

Illihois
Indiana...'..
Kansas
Kentucky
Louisiana

....

6
2

;

Massachusetts
Mississinni
Missouri
Nehraska
Nevada
T^ew H a m p s h i r e




,,

12
1
117
14
7
2
49
36
63
51
15
8
8
88
1
6
1
1

1,501
830
855
9,373
2 623
2,604
94.6
562
409
2,151
508.
11, 094
5,196
4,104
1,460
4,208
4,785
918
4,848
6,913
5,066
2,898
1,831
6,950
808
990
812
950

49
20
22
293
116
45
32
8
8
52
14
250
71
55
16
185
1818
150
179
49
30
33
236
46
23
• 14
4

ajniJ
0 ©

P

1

'o
.si

1

1
p

1^
4

4
1
1
1
1

"

10
313
24
249
16
42
108
31
864
332
224
. 68
201
139
49
594
444
372
94
2
480
2
63
143

.3-2
CO

©

"3

•

©

- ^ 0

©

3
40
4
75

1

1
2
18
1
1

11
1

1

54
50
2

11
15

- - -.
810

1
585

1

\

32
100
46
11
1

_

14

1

44

84

^
li -

6

^

a

6

-8

0

rr,

2

^

§1

©

0

•§

'd"^

2
-^3
0

'0

1

HH

II
^•^

©

1

o
o
'^
'^

0!

0

0
,'^

+3

li
3

Ul
Ul

o

3
0

Q

.........j

23
3

1-^
r§3

3^

P 6

3.^^

CO

7i.

1

ti'=>^

0

•S •

0
.d

<
.^

!3

•s

0

2 .

r.-.
©

s

05

s

<^-

0

O

«w

0

(4-4

'.-1

States and Territories.

^

•+3

^
S'S

0

........ ... ^

1

1, 029
6,113
4,420
11, 661
5,063
5,186
2, 369
2,858
1,914
8,741
675
26, 408
14,168
12 558
6^997
7,948
6,056
4,988
9,247
13, 898
14, 021
6,609
6,399
16, 535
981
3, 916
.970
2, 085

1
1
5
7

2
1
27
2
29 """'236"
2
21
10
22
1
25
5
2
3

2
3

i.3"
21'
10
4
1
69
26
18
14
9
2
61

.

20
117
60
93
22
35
12

14
56
15
5
7.
6
29
33
10
98
48
4

73
27
135
112

12
1
23

59
23
29
31
4

12
9
S
265
57
226
18
7
45
25
2
. 296
129
39,1
52
187
14
101
123
520
308
96
87
166
16
"36
16
281

10
10
6
28
41
73
12
5
16
17
2
13760
54
18
32
14
13
39
154
90
25
15
• 186
. 11
25
2
37^

7, 717
1,929
5,333
22,358
7,969
8, 524
3,420
3,495
2, 514
11, 045
1, 236
39, 429
20,121
17, 428
8, 644
14, 319
11,325
6,110
15, 310
22, 345
20,125
9,879
8,375
24, 873
1,888
5,089
1, 847
4,028

te

O
te

te
Pi

W•te

< •
^
te

d
te

CO

Numher of sxiecial tax^yayers—Continued.

^
£• •
©
1

-

©

I
cc

B

c8
bJ3

1
cr

©

©

s t a t e s and Territories.

•©

«f-i

O"

s

«d

cn
CM

o

o
©

©

O

ro

^

1
New Jersey
N e w Mexico
N e w Yorlc
N o r t h Carolina
Ohio
..
Oregon
Pennsylvania
Rhode Island
South Caroliua .
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W e s t Virginia
Wisconsin
.
Wj'omine:.

C3

•

:
.. . .
.

.

.

.
'

. . .
.

Totnl




:

o

. Vl
c3
©

.

M
o

5

© o

09

66
53
812
35
309
31
399
37
22
65
59

fl

ll

168, 770

4, 241

'I
46
15
9
66
11

1

607

3
1
4

3,456
21
1, 243
9
3,183
57
14
24
51
1
21
91

390
150
338
14
297
1

1
94
' 97

116
11

.•si

2?
39

i'
i'

342

2
330

'

194

13, 994

3,039

58'
15 !
7 ''....
1,235

s

s

s

o
!

394, 692

•

l © C7^
i r-

,2^

tn

^-

a

870

© 02

leg

rS fl

'^ a*

<^;^

2

r'^

12
12, 725
1,735
84
49, 885
2
7,328
235
1
26, 812
38
. 1,947
28
39, 794
2,887
5,903
1
6,545
26
2
1 . 10,870
980
2,060
5, 353 " " " l 6 7
1
953
3,575
5
10, 567
360
10

•

^
c3
. a-

fl

li

V

i

i
29

li

o

!r;
c5

1

74

1

is
„^
CZ!

5

_
^

o

V.

l i rP
© o

r2 o

'. d

2

tH ©

a3

i

©

si

.s^
oiki

•.s

r^

©

P

6,229
1,289
267 . 27,200
1,556
9
12, 729
99
983
4
16, 259
210
1,344
7
814
2
1 933
11
2,514
9
386
3
426
2, 228
13
391
1
786
7
5, 275
31
2
235
1; 328

,*

c3

©

17

o

©
r'^

CO
V .-

.

©

J'
69
1
328
97
117
173
15
1
19
4
12'
5
28"
1,315

"©

P

•

50
3
339
1
- 159
35
303
3
1
1
19
22
3"
24
6
219
4
2,371

1

1

416
8
2,297
23
319
39
756
79
23
33
298
6
50
15
56
23
140
2

99
16
355
9
138
28
217
18
14
13
74
8
7
10
5
2
39
2

20, 296
3 105
85, 419
9,559
42, 433
3,090
61, 814
4 448
6,795
8, 862
13;912
1 422
2,580
8, 320
1 447
4,534
16 759
616

8,006

2,186

602, 08G

te
o
H
O
H
W
te

o
te
m

COMMISSIONER OF INTEENAL REVENUE.

95

TOBACCO.
The total amount of collections from tobacco for the fiscal year ended
June 30,1882, was $47,391,988.91. This ainount includes the collections
of internal-revenue taxes imxiosed upon imxiorted manufactured tobacco,
snuff, and cigars (in addition to customs duties); the taxes imxiosed on
domestic tuanufactiired tobacco, snuff*, and cigars;> the special taxes
paid .by manufacturers of tobacco, snuff*, and cigars; the special taxes
paid b.y dealers in leaf and dealers in manufactured tobacco; special
taxes ^'Md by peddlers of manufactured tobacco; and it also includes
the receipt of mouey for export stamx:)S sold to exporters of tobacco. .
The collections from the several sources above-named for the last fiscal 3'ear exceed those of the fiscal year immediately x)>^eceding by the
sum of $4,536,997.60.
R E C E I P T S FROM TOBACCO AND SNUFF.
Maiuifactured tobacco, afc 16 cents ].)er pound
Mauafactured tobacco, at. 24 cents per x)ound
Snuil", at 16 cents per xiound
Total for year ended J n n e 3.0, 1882
Total for year ended June 30, 1881

$25, 032, 372 19
1, 389 78
778, 650 87

:
,

25, 812, 392 84
23, 52|^, 470 63

Increase in collections on tobacco and snnff.

2, 289, 922 21

Of this increase $2,200,454.37 Avas on chewing and smoking tobacco,
and $89,467.84 on snuff*.
R E C E I P T S FROM CIGARS AND CIGARETTES.
Cigars taxed at | 6 per thousand
Cigarettes taxed at |1.75 per thousand
Cigarettes taxed afc $6'per thousand ..,

$18,245,852 37
969, 580 30
2, 989 80

".. -

Total collections for year ended J u n e 30, 1882 . . . . ' . . . . .
Total collections for year ended J u n e 30, 1881

19,218, 422 47
17, 088,706 00

Increase in collections from cigars and cigarettes

2,129, 716 47

OTHER COLLECTIOILS.
Receixits from export stamps sold year ended June 30, 1882
Receipts from exporfc stamxis sold year ended J u n e 30, 1881

| 6 , 554 40
----.- .6, 852 40

Decrease in sale of exporfc stamps

298 00

Dealers in manufactured tobacco, year ended June 30, 1882
$2, 094,536 21
Dealers in manufactured tobacco, year ended J u n e 30, 1881 . . . . . . . . . . . 1,976, 071 55
Increase in collections from dealers in manufactured t o b a c c o . . . .
Special taxes, mannfacturers of tobacco and cigars in 1882
Special taxes, man ufacturers of tobacco and cigars in 1881
Increase special taxes, manufacturers of tobaeco and cigars

1,179 57

Special taxes, peddlers of tobacco, year ended June 30, 1882
Special taxes, x:>eddlers of tobacco, year ended J u n e 30, 1881
Decrease iu collections from peddlers of tobacco
Dealers in leaf tobacco, year ended J u n e 30, 1882
Dealers in leaf tobacco, year ended June 30, 1881
Increase in collections from dealers in leaf tobacco




118,464 66
$152, 622 14
151, 442 57

$22, 875 22
26,258 13
:

--• -r

3, 382 91
$84, 585 63 .
83,190 03
1. 395 60

96

REPORT ON T.HE FINANCES.
COMPARISON W I T H PRECEDINGr YEAR.

Th-^^ above statement shoves thatthe collections made duringthe fiscal
year ended June 30,1882, were in excess of those made during the fiscal
year ended June 30, 1881, with two exceptions, to wit, exx:)ort stamps,
$298.00, and peddlers, $3,382.91, aggregating $3,680.91.'' The increases
were:
From specitic taxes : *
Tobacco and snuff
....
Cigars and cigarettes
From sxiecial t a x e s :
•
"
Dealers in manufactured tobacco
Manufacturers of tobacco and cigars
Dealers i ii leaf tobacco
Total increase of collections
Deduct decrease of collections

.-

$2, 289,-9.22 21
2; 129, 716 47

1
°
".
.

^

118, 464 6 6
>
1,179 57
1,395 60

, . . $4,540,678 51
3, 680 91

Net'increase of collections,

4, 536,997 60

, PRODUCTION OF MANUFACTURED TOBACCO, CIOARS, ETC.

The production of tobacco, snuff and cigars for the fiscal year ended
June 30, 1882, as shown from tbe several quantities removed for consumption on xiayment of tax, together with the quantities removed in
bond for exxiort, is as follows:
Pounds.

Tobacco taxed at 16 cents per pound
Tobacco taxed at 24 cents per pound
Snuff taxed at 16 ceiits x^er pound

156,452, 326
5,707
4,866, 568

.\.

Total quantity removed for consumption... ^
Tobacco and snuff removed for exportation

161,324, 601
10, 829, 215

Total apparent prodnction
Total apparent product, year ended J u n e 30, 1881

172,153,816
157,699^ 876

Increase of production

14, 453, 940

PRODUCTION OF CIOARS AND CIOARETTES.
Numher.

Cigars, clieroots, &c. taxed at $6 per thousand
Cigarettes taxed at $1.75 x^er thousand .:
Cigarettes taxed a t $6 per thousand
Cigars removed in bond for export
Cigarettes removed in bond for export

...
'.
•

Total product for fiscal year, 1882
Total product for fiscal year, 1881

3,040,975, 395
554,045,886
498, 300
3,451,995
64, 001,500

'. 3,6(i2,973, 076
3, 290,404, 915

Total increase of x'>roduction

372, 568,161

Of this increase 321,897,758 were cigars and 50,670,403 cigarettes.
TOBACCO AND SNUFF SOLD, E X P O R T E D , AND ON HAND.
Pounds.

Tobacco and snuff sold during 1881.:
Tobacco and snuff'exported during 1881
Tobacco and snuff on hand J a u n a r y 1, 1882.'
Total
Tobacco and snuff' man ufactured during 1881
Accounted for in excess of manufacture



:
:...
!.....

162, 053 056f
7,.825,646^
18,637,257'
188,515,960
172,467,238^
.16,-048. 721^

COMMISSIONER OF INTERNAL REVENUE.

97

MATERIALS USED.

The gross amount of materials used in the manufacture of tobacco
and snuff and the loss in course of manufacture, for the calendar year
1881, has been as follows:
Pounds.

Materials used in mannfacturing tobacco and vsnuff

221, 002, 0601

Tobacco aud snnlf manufactured aud in.process out of this material

180,107, 000^

Difference or apparent loss on materials used

40,895,060^

This difference, itemized, is as follows:

.
Pounds.

Scrax^s taken out of the leaf tobacco used
3,585,570
Stems taken out of the leaf tobacco used
32,192, 354
Loss from dirt, dust, shrinkage, &c
5,117,136:^
Total of scraps and stems tnken out and loss from dirt, shrinkage, & c . 40,895, 060^
IMPORTED CIOARS.

The cigars imported during the fiscal year ended June 30, 1882, as
given by the Bureau of Statistics, were as follows :
Pounds.

Aggregate in quantity
Of this quantity there were exported

802, 872
71, 295

^

Leaving to be withdrawn for consumption
731, 577
Allowing 13^ pounds to the thousand as the weight of imported cigars, the
number Avould be
54,190, 889
Number withdrawn, 1881
40,092,667
Increase in number of cigars for the fiscal year, 1882

14, 098, 222

EXPORTATION OF MANUFACTURED TOBACCO AND SNUFF IN BOND.

The quantities of tobacco removed and unaccounted for, July 1, 1881,
were as follows:
•

Pounds.

Ponnds.

Bonds in
Tobacco,
Tobacco,
Tobacco,
Tobacco,

the hands of United Stafces district attorneys
17, 094
at 24 cents, removed under exportation bonds
33,974
at 24 cents, removed under transportation bonds. . 126, 312^
at 16 cents, removed under exxiortation b o n d s . . .
830,576^at 16 cents, removed under transportation bonds.
102,515^
:
1,110,4721
The quantity of tobacco removed during the year ended J u n e 30,1882,
was:
Tobacco and snuff, at 16 cents per xiound tax
10, 829,215tV
10,829,215A
ll,939,688-i\^
The quantities of tobacco exported and accounted for duriug the yeacr were:
Pounds.

Pounds.

Tobacco, at 24 cents per pound tax
146,730^
Tobacco and snuff, at 16 cents per pound tax
10, 596,650-^%
Tobacco, at 24 cents per xiound t a x (tax x^aid on deficiencies)
:
. 2 4 0
Tobacco and snuff, at 16 cents per pound t a x (tax paid on
deficiencies)
1, 057
10,744,677i^

7F

'




98

REPORT ON T H E FINANCES.

The quantities of tobaoc-o remaining unaccounted for J u n e 30, 1882, were:
Pounds.

Pouuds

Bonds in the hands of Unifced States district attorneys
17, 094
Tobacco, at 24 cents, removed under exportation b o n d s . . .
3,481
Tobacco, at 24 cents, removed under transportation bonds.
9,835
Tobacco and snnff, at 16 cents, removed under exportation
bonds
1,080,1271
Tobacco and snuff, at 16 cents, reraoved uuder transportation bonds
84,473
1,195,010^
11.939,688ri\

The quantity of tobacco removed from manufactories for exportation
during the fiscal year ended June 30, 1882, is 143,083 pounds greater
than that removed during the iiscal year ended June 30,1881. The number of cigars is 725,920 greater; and of cigarettes is 26,338,440 greater.
The number of cigarettes exported in 1882 exceeds the number exported
in 1881 by 70 per centJ
In this conuection I call attention to the following paragraph which
appeared in my rex)orts for 1880 and 1881, and renew the recommenda-.
tion contained therein:
It, however, appears t h a t in striking out a portion of section 3385 Revised Statutes,
and substituting fbr the portion stricken out the amendatory i)rovisions of the new
law, the language of t h a t part of section 3385 relied upon as authorizing the exportation of tobacco, snuff, and cigars by railroad cars and other land conversances was,
through inadvertence, not restored. I see no good reasons why the exportation of
these articles under section3385, as amended, should be confined to vessels, and I would
therefore recommend that as early as possible in the next session of Congress the law
be amended so as to clearly provide for the exportation of tobacco, snuff, and cigars by
railroad or other land conveyances.
.
EXPORTATION OF CIOARS AND CIGARETTES IN BOND.
The number of cigars and cigarettes removed and unaccounted for to July 1, 1881,
was:
Number.

Cigars, at $6 per M tax
Cigarettes, at $1.75 per M tax

...'

Number.

81, 450
4,153, 000

4,234,^450
The number of cigars and cigarettes removed during the year ended
J u n e 30, 1882, was:
Cigars, at $6 per M t a x
3,451,995
Cigarettes, at $1.75 per M t a x
64,001,500
—
67,453,495
71,687,945
T h e n u m b e r of. cigars and cigarettes exported and accounted for dueling t h e year
ended J u n e 30, 1882, was:
^
Number.

Cigars, at $6 per M tax
Cigarettes, at $1.75 per M tax

Number.

3,290,895
63,298,000
66,588,895

The number of cigars and cigarettes remaining unaccounted for J u n e
• 30, 1882, was :
,.Cigars, at $6 per M
....
,242,550
•Cigarettes, at $l.75per M
4';856,500




5,099,050
71,687,945.

COMMISSIONER OF INTERNAL

99

REVENUE.

The following statement shows the quantities of tqbacco (including
snuff') removed for export in the last ten years, and the percentage of
production:
P o u n d s of tobacco exported.

Percenta g e of
production.

WIS
'
' .:... i •
10,110, 045
1874.
:......
:... I
]0, 800, 927
1875. J - . . . . . : . . . . . .
..:..........,
:
i
9,179, 316
1876..
ll.....
•:.........
:
.............:.
:.:j
- 9,434,485
1877...............A.
:.......!
11,335,046
1878. . . . : . . •
•.
i
-..:......
.1 . • io, 583, 744
1879
-.......
:..:....-:..;...:
:
;
- -.; .
11, 034, 951
1880
;
L.......:'
9, 808, 409
1881............
:.......:
...:...:..:^
; . . . ,•
10,686,,132
1882.
r.
; . . . . . . . . . . . . . . . . . . . . . . . -j
10, 829, 215

o9-f
11413-f
87-f
88489-f
62-f
71-f
61-f
29+

Year.

• DATE OF BONDS REMAINING- UNACCOUNTED FOR J U N E 3 0 , 1 8 8 2 . • '

The years in which the bonds were given for the exportation of the
iobacco, snuff, cigars, and cigarettes remaining unaccounted for by the
evidence required by law for their cancellation on June 30, 1882, are as
follows, viz:
• -^

••.

Tear.

i872\
1873
.:.
1874
1875 . ^ .
. .:
1876.
1877
^
1878
•
•
.
1879
:
1880
1881
1882 . . -•
1
'
Total

.

... .

Tobacco.

•.:.,'.

..:........

.....:..
... -

• .--

•- . .
.
.•

. .
:

...
'. .

."..

-

-

:. '
. . .

.'.........
-

.-

......

Cigarettes.

Pounds.
. 17,094

...'.

• Cigare.
Numher.

Nuinber.

448
1,015
361
7,704
49, 472
62, 965
117, 979
937, 972|
1,195, OlOi

•

•

10, 500
10,000
.222,050
242,550

32,
6
325,
4,493,

006
000
000
500

" 4, 856, 500

R E V I E W OF TAXATiOlsT OF TOBACCO.

In June, 1872, a uniform tax of 20 cents a |)ound was imj)osed on all
classes pf manufactured tobacco except snuff, which was taxed at the
rate of 32 cents a xiound. In 1875 the uniform tax was increased from
20 to 24 cents a pound,; and in March, 1879^ the tax on all manufactured tobacco, including snuff^ was reduced to 16 cents a pound. In 1875
the tax on cigars was increased from $5 per thousand to $6, and the
tax on cigarettes from $1.25 per thousand to $1.75.
The following statement shows the collections from special and si>edfic taxes on tobacco of all descriptions, inclading snuffl cigars, and
cigarettes:.; '
' . •' • ,
, •,
...'.'
A m o u n t collected,

1873...--.....-.:..
.:
...'.^.:
- , . . . . . . . - . . . . . . - : . . - . . i34,386,:^03 09
1874....
..•
L..
:..'.
. J . . . . . . • 33,242,875 62
1875...
..'
.--/
..-..•
...•
...-•
. . 37 ..303, 461 88
1876..-.
..........J
:..•
'.-.- . . . . : . . . - . . 39,795,339 91
1877
-•
. - . 1 . . . . . . . . . . . . . . . . . . . . . . . . . . • 41.,i06.546 92
. . - . . . . . . - . •


100

. REPORT

.'
•1878
1879 . . . . . . . .
1880
-•-.
1881
1882 . . . . . . . . . . . . . - . . . . . . . . - . : .

ON

THE .FINANCES.

..

- ,
. ......

...
.'•
.;..!...
.

.:...-...•.

V
Amount collected.
. . . . . . . . . . $40,091,754 67
40,135,002 65
. . . : 38,870,140 08
........'......
42,854,991 31
-.47,391,988-91

-Aggregate collections . . . , . . ' . . - . - . .

......

395,178, 405 04

Average a n n u a l collections
..................
Excess of collections in 1882 over a v e r a g e . . . . . . . . .

39,517,840 50
7,874,148 41

The collections from tobacco of all descriptions, including snuff, and
number of pounds thereof, have been as follows :
Years,
1873
1874.
1875...
1876
1877 . . .
.®.
1878 . . :
1879...........
..
1880
1881
.
..
1882 . . . • . • - . '• •
.:

-

;

Collections.

-

...:.............
-

Ponnds.

$23, 397, 858 22
21, 938, 955 59
25,200,759 51
26, 755, 780 20
28,148, 767 90
26,383,872 30
25, 606, 010^25
21, 804, 763 74
23, 522, 470 63
25, 812, 392 84

.9...
....:..

-

:
..
:

^

-

Total
Average annnal collections
Average annnal qnantity to-bacco and snuff tax-paid

i l 4 , 789 208
. 107,502,548
119, 435, 874
107, 063, 516
112, 722, 055
105,500,736
116, 975, 223
132, 309, 527
147, 013 405
161, 324, 601

248, 57], 6 3 1 1 8

-

1 224 636 693

. . . .pounds...

$24, 857,163 12
122, 463, 670

The collections from cigars, cheroots, and cigarettes, and number of
cigars and cigarettes, have been as follows : .
• •' „
•
1873
•-. . . .
..
1874
1875....:
1876
1877
1878 '.
-..:
1879'
:...'......,.l'. 1880>
1881
1882
,..

•
..

• Tears..

'..

; Collections. .
.

. . . . . ' .
. . . . ......
.....".

':..
:
• -

:..•..-...•

----'

..-.'..-....:

--

-

---

....

---:

•

• .
- •--

Total...

. Average annual collections
i
Average nnmber cigars tax-paid annually

•...

.
"

$8,940,39148
9,333,592 24
10, 205, 827 53
11,105,272 45
11, 061, 278 15
11,719,226 39
12,532,452 72
14, 922, 088- 88,
17,088, 706 00
19,218,422 47

1, 807, 034, 646
1,.886, 697, 498
\ 96T 959 662
1,906,227,982
1,949,078,513
2, 070, 253, 337
2,257,523,581
2, 776, 511, 615
3, 250,016, 770
3, 595, 419, 581

126,127, 258 31

,

.
-

Nnmber.

23, 466, 723,185

$12, 612,725.
2, 346, 672, 320|

The large increase since 1878 over the general average of the last t e
years in the quantity of manufactured tobacco and numbers of cigar^
and cigarettes on which taxes have been collected is, in my opinion, t'
be attributed to two causes :
'...
First. The improved condition of the times, whereby all are enkblec[|
to purchase tobacco or cigars who desire to do so.
Second. The supervision exercised over the entire industry and t h
ncreased vigilance of the various ofQcers of the service in detecting an<
^reporting all cases of fraud, and holding every man to a strict compl
ance with the law.
/
:
The amount collected during the last ten years in payment for expo



COMMISSIONER OF INTERNAL REVENUE.

101

stamps used on tobacco, snuff*, and cigars, was $68,910.30, being an average annual payment of $6,891.03.
The aggregate amount paid for special-tax stamps by manufacturers
and dealers in tobacco during the last ten years was $20^410,605.25, being an average annual payment of $2,041,060,52.
L E A F TOBACCO.

The annexed tables show that during the calendar year 1881 the
number of pounds of leaf tobacco consumed in the manufacture of
tobacco, snuff, cigars, cheroots, and cigarettes was as follows:
Pounds.

Manufactured into tobacco and snutf
Made into cigars, clieroots, and cigarettes

170,079,013
66,425,279

Total leaf manufactured in 1881
Deduct imported leaf used

236,504,292
11,102,893

Domestic leaf used in 1881

225,401,399




102

REPORT ON T H E FINANCES.

STATEMENT of the NUMBEB of TOBACCO FACTOBIES in E A C H STATE, the
and the AGGBEGATE QUAN U T I E S of the dif erent Mnds of MANUFACTUBED
BEPOBTS MADE to T H I S O F F I C E ' o n FOBM No. 146, hy the INTEBNAL

L e a f tobacco a n d o t h e r m i t e r i a l s used in

raanufac uuring t o b a c c o a n d snuff.

! ^
States aud Teiritories.

s
•o

1
£

Arizona
Arkansas
California
Connecticut
Delaware
Georgia
Illinois
Indiana
Iowa
.Kansas
....
Kentucky
Tiouisiana
Maryland
Massacliusetts
Michigan
JVTinnesota
Missouri
NewJersey
New York
N o r t h Carolina
Ohio
Pennsylvania
South Carolina
Tennessee
Texas.
...
Virginia
W e s t .Virginia
Wisconsin
Total

i

5
c

3

1
i

1

(-1

Poimds.
4,195
95, 315^
67, 3 5 3 |

4
8
7
2
2
8
23
9
2
1
60
44
16
10
9
1
70
15
72
188
38
32
2
30
2
177
8
7

18, 505, 348*
21, 522, 952i
14, 409, 915f
16, 280, 526
8, 875,154^
2, 857, 430 .
59, 692
851, 044
7, 050|
52, 790, 536^
58,704
3, 236, 726

847

170, 079, 0131




'6

1

1, 472,163
59, 330
9, 584,154
61,936^
283, 7 7 4 |
36, 363
8, 720, 592
2,486, 6 8 9 |
3, 421,197
758, 047
3, 572, 823

Pounds.

j

Pounds.

!

i6r757

98
1,622
1, 059, 795^
1, 019-^
3, 629"'
83
1,163, 721
20, 984
. 71,839A
73, 021
235, 433

219
2,925
1, 408, 291
2, 572
1, 599
. 500
1,116, 804*
11, 576"
82, 938
83,714
573,192

2, 269, 952
2, 452, 979
1, 741, 021
427,184
943,191
34, 009
'
1,875
30, 959*

1, 748, 645*
2,184, 869"
1,109, 512
188, 83J^
1, 210, 23H
42, 587
204
21, 369

i 3.099.3.59i
958
60. 49.Qi
567, 6i9

2, 452, 555*
2,657
141, 588

1,410
306, 035
39,942
144

1, 927, 4381
20, 082
223, 471
2,704
i,
517, 349
690, 082
457, 794i
197, 539
'
126, 676
156, 222
. 2,343
6,487

5, 301, 647A

1 1 1
Pounds,
3,365

1,569
6,755
1, 237
48
184
322, 0541
12, 472^
5,108
6,686
168,136i

278, 850
137, 767
32, 592

••'

Poimds.

599, 485^
11, 670
094, 562
301, 799
142. 958
151, Oil
386,478^
28,168

...
40,144

3, 760, 8251 13, 696, 598

O

Founds.
2491

1,112, .
490,352^,
1,047 ,
13,544 ^
27
493, 6971
4,796
193. 7941
•13, 785^ .
418,389
500,199^
919,357^
710, 351
239, 633i
493, 4721
17, 987^
1, 542^
2,152,548
240
100,658

12, 398,137^ ^ , 7 6 6 , 785i •

COMMISSIONER OF INTEKNAL

REVENUE.

103

AGGBEGATE QUANTITIES of L E A F TOBACCO and OTHEB MATEBIALS USED,
TOBACCO produced during the calendar year ended Decemher 31, 1881, as shown hy the
B E V E N U E COLLECTOBS.
Leaf tobacco and other
niaterials used in manufacturing tobacco and
snuff.

8, 999,.052|




Tobacco and snuff produced and in process of production.

104

R E P O R T ON T H E

FINANCES

STATEMENT showinq the PBODUCTION of CIGABS and CIGABETTES hy STATES
and TEBBITOBIES for the year ended Decemher 31, 1881.
r-5 C =0
3
3

States

and. Territeries.

.^3

"^r-;

2'-3 2 c

c3 d
• bJL§

'3 q

o o •

05 ;^

a
{5
2
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
.
Bakota
Delaware ..
...
Elorida
Georgia
Illinois
Indiana
Iowa
. Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts —
Michigan
Minnesota
Mississippi
Missouri
Montana.
Nebraska.'
Nevada
New Hampshire ..
New Jersey
N e w Mexico
New York
N o r t h Carolina . . .
Ohio
Oregon
Pennsylvania
JRhode I s l a n d
South Carolina
Tennessee
....
Texas
Utah
:
Vermont
V i r g i n i a ..°
West Virginia....
W a s h i n gjton
Wisconsin

32
37,037
964
2
15
29,175
239 3, 201,138
36
26, 386
299
593, 645
11, 899
15
114, 001
45
788, 905
133
73,370
34
1,011 3,160, 624
413 1, 036, 272
843,174
273
280, 770
109
752,113
233
890, 584
168
94,02256
717 1, 980, 009
540 1, 668, 346
496 1, 941, 623
406, 756
107
1,153
3
563 1, 365, 085
81
1
135, 807
68
540
1
64, 351
45
727 1, 307, 538
339
1
3,970 j23, 608, 793
117, Oil
26
1,479 5, 964,185
14,411
9
3, 956 12, 450, 486
184, 845
72
33, 917
19
75, 538
33
120, 319
54
6, 523
2
60,445
16
754,107
132
737, 543
111
2,486
3
376 1, 488, 963

Total .

S * rt
5 4) "

3 O ;.,
1^

1, 340, 375
39, 900
1, 508, 005
6, 785, 710
137, 786, 645
1, 232, 545
28, 019, 668
621, 400
5,135, 347
^215,360
32, 377, 394
2, 685, 000
136, 517, 375 'i,'193,'500
47, 800,483
35, 218, 571
12,138, 504
32,163, 901
9,125, 020
36, 057, 739
3, 960, 379
84,153, 523 31, 39.5, 355
3, 079,180
69, 436, 311
78, 874, 236
16, 850, 826
42,100
59, 366, 903
3,850
5, 902, 089
18, 050
165, 500
3, 085, 345
542, 792
56, 468, 796
13, 550
953, 034, 334 431,156, 700
1, 573, 820 34,191, 212
4, 282, 376
262, 028,.017
584, 080
^ 706,300
555, 949, 256
8, 335,133
1, 307, 252
3,167, 240
240, 200
4, 672, 603
225, 250
2, 380, 633
22, 669, 345 69,'498,'590
37, 749, 885
100, 260
63,174, 008

14
1
4
24
5
18
3
7
19
15
145
98
54

82, 735
1,960
6,090
223, 290
5,520
79, 032
2,410
5,180
59, 945
343, 795
1, 617, 489
1, 366,117
614, 080

$496
11
36
1, 339
33
474
14
31
359
2, 062
9, 704
8,196
3, 684

41
76
54
74
12
19
46
08
67
77
93
70
48

206, 269
, 218, 728
16, 360
151, 315
240,401
960, 017
122, 670
4,120
232,181

1,237
7, 312
98
907
1,442
5,760
736
24
1, 393

61
37
16
89
41
10
02
72
09

128, 470
3,550
84
345
2
116
5
131
10

318,!

$17
1
29
70
9
2
50
1, 053
256
55

70
20
60
12
60
95
60
05
95
10

114 40
780 10
262 68
4 20
4 20
5 00
24 55

770 82
21 30
1,913 81

179 00

3, 277, 750 19,666 50 48, 741 00
3 60
9 00
600
655,179 3, 931 07 1,828 00
72 45
12, 075
172 40
716, 784 4, 300 70
107 17
21 60
17, 862
74 70
r2, 450
3 60'
9 60
1,600
284 35
306, 875 1, 841 25
218 10
36, 350
113 37
18, 895
45 30
236 01
39, 335
405 30
67, 550
29 73
4,955
"ig'so
178, 216 1, 069 30

66, 425, 279 2, 805, 769, 926 594,560,155. 1,575 13, 357,169 80,143 00 54, 045 75

N O T E . — I n all of t h e a b o v e c a s e s of a p p a r e n t deficiencies, e i t h e r i n t h e p r o d u c t i o n or s t a m p a c c o u n t s ,
t h e m a n u f a c t u r e r s h a v e b e e n c a l l e d u p o n t o s h o w c a u s e w h y t h e t a x e s s h o u l d n o t b e a s s e s s e d ; a n d on
their failure to furnish satisfactory explanations assessments h a v e been made.




S T A T E M E N T of the A M O U N T of TOBACCO and S N U F F M A N U F A C T U B E D in the year 1881; the AMOUNT SOLD and EXPOBTED, and

BEMAINING on HAND UNSOLD at tlie CLOSE of ihe YEAB', the AMOUNT of SIAMPS USED to COVEB the SALES, and the AMOUNT
of LEAF TOBACCO and SCBAPS on HAND in the FACTOBIES at the CLOSE of the YEAB.
.
.

States and Territories.

Arizona . . .
Arkansas
Galifornia
Connecticut....
Delaware
Georgia
Illinois
Indiana
loAva
Kansas
Kentucky
Louisiana
Maryland
Massachnsetts
Michigan
Minnesota
Missouri
New Jersey .. .
New York
North Carolina
Ohio
Pennsylvania..
South Carolina
Tennessee
Texas
Virginia . . . . . .
West Virgmia
AVisconsin
Total....

Tobacco and
snuft' manufactured in
1881.
Pounds.
2, 552^
91, 587^
79,148J
1,237
1, 462, 821
46, 6 5 4 |
11,252,891§
58, 831i
342, 245f
31, 516
9, 296, 442*
1, 891, 388|
5, 653, 4931
698, 804i
4, 872, 054
2,704
19, 531, 012J
23, 685, 784i
14, 732, 375
14, 854, 485*
10, 732, 396g
2, 851, 771i
45, 471
691, 003
7, 050^45,337,8721
175, 480g4,038,164^
172,467, 238^

Tobacco and Tobacco and
s n n f f on
snuff ex- Tobacco and
htind nnsold
poited unsnuft^ s o l d
January 1,
taxed i n . in 1881.
1881.
1882.
Pounds.

Poimds.
10, 311

98,
49,
429,
17,
16,
14,
574,
228,
395,
2,
1,
., 537,
15,
142,
1, 481,
122,
108,
30,
382,
9,917,110
6, 851
22, 271
18, 637, 257

520

483
3,163
40, 574
4,666
1,588
50, 395g
517, 640t
12, 758*
300"
2, 801 .

7,180, 446

A m o u n t of
stamps att a c h e d to
sales in 1881.

Pounds.

. Pounds.
2, 552*
92, 4 1 2 |
69, 722^
925
1, 440, 957f
54, 902f
11, 205, 801i
50, 646J
338, 624£
.30, 329|
9, 341, 338*
1, 874, 0 7 9 |
5, 632, 631§
693, 877
4, 868, 243i
1,430
• 19, 481, 2 8 6 |
. 23, 659, 427
14, 221, 274
13, 484, 8 4 6 |
10, 743, 2 2 0 |
2, 838, 850i
27, 489
610, 811
7,050*
37, 064, 082i
179, 452f
4, 036, 7911
162, 053, 0561

Leaf tobacco S c r a p s o n
on hand' in
hand in the
factories
. the factories
January 1,
January 1,
1882.
1882.

$408
,786
,155
148
I, 553
1, 784
1, 792, 928
8, 103
54, 179
4, 852
1, 494, 614
299, 852
901, 221
111, 020
778, 918
228
3,117, 005
3, 785, 508
2, 275, 403
2,1.57, 575
1, 718, 915
454, 216
4, 398
97, 729
1, 128
253
5, 930, 712
28, 886
645,

40
00
56
00
22
42
20
40
96
74
16
70
02
32
96
80
90
32
84
46
30
04
24
76
08
16
44
68

25, 928, 489 08

\

5,310
27, 601
22,168"
1, 617, 791
3,548
3, 470, 066
9,880
22, 200
7, 229
1, 999, 439
588, 241
3, 357, 928
171, 676
1, 976, 040
6,171, 868
3, 216,171
6, 536, 787
5,107, 895
2, 317, 653
855, 928
236
168,127
1, 887
6,180,135
19, 716
1, 244, 444
45, 099, 964

O
O

Pounds.
653
2, 911
3,634
3,770
2,159
258, 788
6,490
2, 769
727
94, 533
17,210
376, 610
3, 254
181, 613
350
32, 367
468, 261
284, 938
168, 712
112,104
70, 991
1, 605
19,132
685, 789.
94, 966
27, 892

Ul
Ul
O
PC

o

pi

Pi

<

a

2, 922, 228

NOTE.—From the above statements, compiled from the retnrns on Form 146, as given by the collectors, it appears that 16,048,721^ pounds of manufactured tobacco and
snuft', representing a tax of $2,567,795.44, are accounted for in 1881, whichhad been manufactured in former years




O

106

REPORT ON THE''FINAISCES.

DISTILLED SPIRITS AI^TD MALT LIQUORS.
The quantity of spirits (105,853,161 gallons) produced and deposited
in distillery warehouses during the fiscal year ended. June 30,1882, was
less than the production of the previous year "(117,728,150 gallons) by
11,874,989 gallons.
'
^.
The decrease in production for the fiscal year 1882 as compared witk
the production for the fiscal year 1881 is distributed among the different varieties known to the trade as follows:
Gallons.

Decrease iu producti ou of—
Bourbou whisky
Rye whisky ...".
Alcohol
Runi^.....
„
Highwijies
Total

...„

4,056,948
706,832
7,.787,298
414, 422
3,401,202

..:
:

,

'

:

16, 366,702
Gallons.

Increase iu jiroduction of—
Gin
'
Pure ueiitral or cologne spirits
Miscellaneons

:........

19,538
4, 314, 685
157,490 4, 491, 713

Net decrease

11,874,989
QLTANTITY OF SPIRITS R E C T I F I E D .

The following statement shows the number of proof-gallons of spirits
rectified in the United States during* the year ended April 30, 1882, by
collection districts:
Alabama
.-..108,466.50
Arizoua
25,680.50
First district, California .. 1,912,841.29
Fourth district, Califoruia.
188, 841. 00
Colorado
119, 051. 56
First district, Connecticut.
33, 519. 28
Second district, Connecticut
153,254. 09
Delaware
.39,144.50
Second district, Georgia...
323, 872. 00
Third district, Georgia:...
720, 536. 00
Idaho
8, 204. 50
First district, Illinois
4, 655, 653. 67
Second district, Illinois . . .
8,221. 66
Fourth district, Illinois . . .
191, 553. 50
Fifth district, Illinois
323,255. 00
E i g h t h district, Illinois . . .
11, 707. 00
Thirteenth district, Illiupis
59,091.00
First district, Indiaua
16, 580. 50
Fonrth district, Indiana ..
51,878. 00
Sixth district, Indiana
17, 368. 87
Seveuth district, I n d i a u a . .
38, 355. 50
Teuth district, I n d i a n a . . . .
50,821.50
Second district, Iowa
5,232. 00
Third district, Iowa
65,144. 00
Fourth districr, low^i
44, 373. 50




Kansas
'.-.
..-Secoud district, Kentucliy .
Fifth district, Kentucky . .
Sixth district, K e n t u c k y . .
Seventh
district,
Kentucky
lonisiana
Third district, Maryland..
Fonrth district, Maryland.
Third district, Massachusetts
Fifth district, Massachusetts
Tenth district, Massachusetts
:
First district, Michigau . . .
Fourth district, Michigau.
First district, Minnesota . .
Second district, Miunesota.
First district, Missouri....
Fourth district, Missouri ..
Sixth district, Missouri . . .
Montaua
Nebraska
Nevada
:
New Hampshire
-,..
First district, New Jersey .

11,370.71
86, 513. 00
1,152, 874. 04
4,220, 072.52
9,291. 00
1,090,968.31
3,870, 056.17
9,898. 50
'
1,766,238.11
-29,333.00
3,797.50
299,891, 00
. 33,843.25
10,971.77
228,253.65
3,622,993.74
3.22.50
-371,593.50
1,380.50
116,165. 00
7,121.50
14,030.00
1,968.00

COMMISSIONER OF INTERNAL
Third district, NewJersey .
31,134. 42
Fifth district, New Jersey.
121, 266. 50
New Mexico
First district, New York .. 1,200,709. 75
Second district. New York. 6,802,236. 05
• Third district. New York..
702, 828. 34
Eleventh
district, New
York
980.50
Fonrteentli district. New
York
444,322. 90
Fifteenth district,
New
York
21,968.00
Twenty-first district, New
York....
.
51,8.28.19
Twenty-fourth district, New
York
201,420.00
Twenty-sixth district, New
York....:
9,986.00
Tweuty-eighth
district,
New York
452,661.45
Thirtieth district,
New
York
671,'JSI. 00
Fourth district,North Carolina
....
29,183.00
Sixth district. North Carolina
.38, 926. 50
First district, Ohio
10, 541, 030. 08
Third district, Ohio
48,815. 50
Fonrth district, Ohio
, 17,661.98
Seventh district, Ohio . . . .
41, 772. 97
Teuth district, Ohio
.345,290. 02
Eleventh district, Ohio
26,524. .50
Fifteenth district, Ohio .. .
18. 60
Eighteenth district, Ohio..
466, 089. .50

107

REVENUE.

Oregon
64,803.00
First district,
Pennsylvania
,
7, 478, 723. 65
Eighth district, Pennsylvania
161,85.3.90
Ninth district, Pennsvlvania
..^.
96,016.00
Twelfth district, Peunsylvania119,549. 00
Fonrteeuth district. Peunsylvania
'
9,432.48
Nineteenth district, Peunsylvania
10, 405. 50
T V en ty-secon d
V
district,
• Peunsylvania
913, 002. 25
Twenty-third
district,
Pennsvlvania
27,679. 00
Rhode island
• 35,169. 00
Sonth Carolina
20,500.50
Fifth district, Tennessee ..
277,117. 00
First district, Texas
.208,162. 50
Third district, T e x a s . . . . . .
8,615. 00
Fonrth district, Texas . . . .
270. 50
Utah
29,718.00
Second district, Virginia..
222,906.50
Third district, Virginia . . .
367, 711. 50
Sixth district, Virginia . . .
94,935. 00
First district, West ^'irginia
68,854.00.
First district, Wisconsin .. 1,245,169. 73
Secoud district. Wisconsin.
36, 313. 00
Third district, Wisconsin..
31,266. 50
Total

59,810, 4D7. 45

The following statement sliows the number of proof-gallons of spirits
xectified in the United States during theyear ended April 30, 1882, by
8tates and Territories: •
Alabama
Arizona ...'.
'California
Colorado
Connecticnt
Delaware
Georgia
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky^
.Louisiana
Marylaud
Massachnsetts
Michigau
Missonri
Minnesota... 1
Montana

108,466.50
25, 680. 50
2,101,682.29
119,051.56
191, 773. 37
39,144. 50
444,408.00
8,204. 50
5, 749, 481. 83
175, 004. 37
\...
114,749.-50
11, 370.71
5, 468, 750. 56
1,090, 968. 31
"3, 879, 954. 67
1, 799, 372. 61
.333,734.25
3, 994, 909. 74
239,225. 42
7,.380.50

Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New Yr.rk
North Carolina
Ohio
Oregon
Pennsylvauia
Rhode Island
South Caroliua
Teunessee
Texas
Utah
Virginia
West Virgin ia
Wisconsin
„..,
'

Total

116,165. 00
7,121.50
14, 030. 00
154, 368. 92
...
10, 560, 922.18
68,109. 50
11,487,203.15
.64,803.00
8, 816, 661. 78
35,169. 00
20,500. 50
277,117. 00
217, 048. 00
20,718.00
665, 553. 00
68, S^54. 00
1,312,749.23

: "

59, 810, 407. 45

OPERATIONS AT DISTILLERY^ WAREHOUSES.

The following table shows the quantity of distilled spirits in taxable
gallons, at 90 cents per gallon tax, placed in distillery warehouses during the fiscal year ended June 30, 1882, the quantity withdrawn there-




108

\ REPORT ON THE FINANCES

from during the year, and the quantity remaining therein at the beginning and close of the year:
Taxable gallons.

1. Qnantitv of distilled spirits actually remaining in warehouse J u l y 1,
1881 .\
-•
- 64,648,111
2. Qnantity of distilled spirits not actually in warehouse claimed to have
beeu lost by casualty
204, 075
3. Quantity of distilled spirits withdrawn for exportation, proofs of landing uot received.. ^
•.
15, 045,619
4. Quantity of distilled spirits withdrawn fbr transfer to manufacturing
.
'
warehouse, uot yet received at warehouse
65, 516
5. Quantity of distilled siDirits produced from July 1, 1881, to Jnne 30,
1882
"105,853,161
Total

,,.....

185,816,482

6. Distilled si)irits withdrawn tax-paid (including deficiencies ou export
bonds aud casualties disallowed)
70,749,880
7. Distilled spirits exported, proofs of landing received
14,2.59,410
8. Distilled vSpirits allowed for loss by casualty
•
139,377
9. Distilled spirits withdrawn for scientific pnrposes aud for t h e use of
t h e U n i t e d States
14,048
10. Distilled spirits allowed for loss by leakage or evaporation in warehouse
1,231,336
11. Distilled spirits allowed for loss by leakage iu transportation for export, &c .,
.35,361
12. Distilled spirits withdrawn for transfer to and received at manufacturiug warehouse
,
242,574
13. Distilled spirits withdrawn for exportation, proofs of lauding not
received
8.838,193
14. Distilled spirits withdrawn for transfer to manufacturing wareliouse,
not yet received at warehouse
35, 928
15. Distilled spirits uot actually in wareliouse, claimed to have been lost
by ca.sualty
307,730
16. Distilled spirits actually remaining in warehouse J u n e 30, 1882
89,962,645
Total

".

185,816:482

The quantity of spirits, 89,962,645 gallons, actually remaining in ware-^
house June 30, 1882, is the quantity as shown by the original gauge of
each package.
The quantity of spirits withdrawn froin distillery waiiehouses for
exportation during the year was 8,092,725 gallons.
DISTILLED SPIRITS ALLOWED FOR LOSS BY LEAKAGE OR EVAPORATION IN WAREHOUSES.

The quantity of spirits, 1,231,336 gallons, reported in the preceding
table as lost by leakage or evaporation in warehouse is that portion of
the actual leakage in warehouse from packages withdrawn during the
year which has been allowed in accordance with the provisions of section 17 of the act of May 28, 1880. It is noted that in most cases the
quantity allowed by the law has covered the entire loss, so that the
above quantity is believed to indicate almost the entire loss in warehouse on the spirits withdrawn during the year, except in cases of casualty, and may be safely u^ed as a factor in computing probable losses
on spirits in distillery warehouses.
The leakage allowed during June, 1880, was 75,834 gallons, and the
quantity allowed during the year ended June 30,1881, was 811,466 galIons, making the total allowances to July 1, 1882, 2,118,636 gallons.
In the consideration of a bill to amend the laws relating to the entry
of distilled spirits in distillery warehouses and special bonded warehouses, and the withdrawal of the same therefrom (H. R. 5656, Forty-




COMMISSIONER OF INTERNAL REVENUE.

109

seventh Congress, first session), the question arose as to whether the
allowances for leakage authorized by section 17 of the act of May 28,
1880, were adequate or excessive.
In order to assist in determining the question, a large number of
gangers' reports of withdrawals of spirits from warehouse was examined. The examination showed that under ordinary conditions the
quantity lost was oftener less than the maximum allowance than more
than the maximum allowance. The average losses in cold warehouses
were found to be uniformly less than the maximum allowances. In
heated warehouses, however, the average loss was sometimes found to
be greater. Upon examination of gangers' reports, selected at random,
^covering spirits withdrawn from cold warehouses, it was found that the
^a,verage actual loss as to 164 packages withdrawn within sixty days
after deposit in warehouse, i. e., during the first period named in the
law, was .96 of the maximum allowed by the law^ the loss as to 146
packages withdrawn during "the second I'leriod was .37 of the maximum
allowance; as to 71 packages withdrawn during the third period, the
loss was .53 of the maximum; as to 96 packages withdrawn during the
fourth period, the.loss was .69 of the maximum; as to 131 packagCvS
withdrawn during the fifth peiiod, tbe loss was .78 of the maximum;
as to 128 packages withdrawn during the sixth ])eriod, the loss was .75
of the maximum; as to 99 packages withdrawn during the seventh
period, the loss was .71 of the maximum; as to 94 packages withdrawn
during the eighth period, the loss was .60 of the maximum; as to 179
packages withdrawn during the ninth period, the loss Avas .65 of the
maximum; as to 167 packages withdrawn during the tenth period, the
loss was .68 of the maximum; as to 144packages withdrawn during the
eleventh period, the loss was .61 of the maximum; as to .85 xiackages
withdrawn during the twelfth period, the loss was .66 of the maximum ;
as to 192 packages withdrawn during the thirteenth period, the loss
Avas .70 of the maximum; and as to 421 packages withdrawn during
the fourteenth and last period, the average loss w^as .76 of the maximum.
"
^
Yery few Avithdraw ais. of spirits less than ten months old Avere found
to have been made from heated Avarehouses, and the average losses as
to these few cases did not vary materially from those occurring in cold
Avarehouses. As to 207 packages withdrawn from heated warehouses
during the sixth period named in the law (elcA'cn and twelve months),
the average loss was .87 of the maximum; as to 217 packages Avithdrawn during the scA^enth peiiod, the aA-erage loss was .94 of the maximum; as to 92 packages withdraAAni during the eighth period, the average loss was .86 of the maximum; as to 23 packages withdraAvn during
the ninth period, the average loss Avas 1.00 of the maximum; as to 179
packages Avithdrawn during the tenth period, the aA-erage loss was .80
of fhe maximum; as to 92 packages withdraAvn during the eleventh
period, the average loss Avas .87 of the maximum; as to 43 packages
withdrawn during the twelfth period, the average loss was .81 of the
maximum; as to 43 packages withdraAvn during the thirteenth period,
the average loss Avas .90 of the maximum; and as to 379 packages withdrawn during the fourteenth period, the average loss -was .91 of the
maximum allowed by laAv.
LOSS OF SPIRITS BY CASUALTIES.

During the fiscal year 1882 there were reported as lost by fire and
other casualties, while stored in warehouse, 257^016° taxable gaUons of



110

REPORT ON T H E FINANCES.

spirits, or about fifteen ten-thousandths of the entire quantity of spirits^
(170,501,272 gallons) handled in the several distillery warehouses in the
United States during that period. The loss so reported is distributed
among the several kinds of spirits as follows:
GraUons.

Bourbon whiskv
Rye w h i s k y . . . Alcohol
High wines
Miscellaneous

'

145,239
32,964
10,557
116 .
68,140

,
.,

Total

257,016

Of this quantity 167,890 gallons were destroyed by fire in one warehouse, and 57,674 gallons were destroyed by the falling of patent ricks
in two other warehouses, making a loss of 225,564 gallons through three
casualties.
EXPORTATION OF SPIRITS.

The following statements show the quantities of spirits withdrawn
for export during.the last two fiscal years:
W I T H D R A W N I N 1881.

1 California
1 Illiuois
3 Ulinois
5 Illinois
8 Illinois
1 Indiana
4 Indiana
7 Indiana
2 Iowa
5 Iowa
'..
5 Kentucky
G Kentucky
7 Kentucky
3 Maryland
3 Massachusetts
5 Massachusetts .
1 Missouri
ISTebniska
•. : . .
1 New York
1 Ohio
3 Obio . . . ' .
6 Ohio
22 P e n n s y l v a n i a
1 AVisconsin
Total




Bourbon
whisky.

Eye
whisky.

Rum.

High
"wiues.

P u r e , neutral, or
cologne
spirits.

Gallons.

Pistricts.

Gallons.

Gallons.

Gallons.
180

Crall&ns.

180, 217
289, 886

3, 482

...

4,212

Alcohol.

Gallons.

33, 580

Gallons.
180
1,414, 02S
847,019
5, 737, 545
2, 825, 906
85, 692
46,787
812, 510
^961,432
1, 005, 209
2, 130
4,452
1,457
1, 242
269.332
591,602
28, 221
772,171
7,909
32.}, 42€
145, 5ii9
], 938
2, 212
33, 580

14.554,178

15, 921, 482

1,233, 804
847, 019
5, 447, 659
2, 825, 906
85, 692
42, 575
809, 028
961,432
1, 005, 209

2,130
4, 452
1,457
1,242
269, 332
591, 602
36,221
772,171
.

702
963

975
2, 212

13,186

4,702

7, 909
6,078

273

.
860, 984

180

488, 302

Aggregate;

316, 373
145, 509

COMMISSIONER OF INTERNAL

Ill

REVENUE.

WITHDRAWlSr I N 1882.

/
Bourbon
whisky.

Districts.

Gallons.
1 Cfllifornia
3
5
8
4

Illinois
Ulinois
Illinois
Indiana

2
5
2
5
6
7
8
3
3
5
1
6

Iowa
Iowa
Kentucky
Kentucky
Kentncky
Kentucky
....
Kentucky
Maryland'.
Massacliusetts ...
Massachusetts
Missouri
Missouri .
DSTebraska
New York
Ohio
Ohio
Pennsylvania
Pennsylvania
;

Eye
whisky.

Enm.

P u r e , neutral, or
cologne
spirits.

High
wiues.

GaUons: GaUons. GaUons.
575

Gallon,8.
2, 004
84,224

• • /

171

' 1
1
3
22
23

Total.

...

Aggregate

GaUo7is. Gallons.

470. 832
355, 330
214, 579 .3,082,049
977, 517
1.52, 967
13, 614* 231, 962
286, 622
1,082
370, 532

11,144

2,209
10,116
3, 5i)l
4, 023
209

Gin.

Alcohol.

Gallons.
2,579
555, 056
355, 330
3, 307, 933
977, 517
152 967
245, 747
• 287,704
370, 532
2 209
10,316
3,591
6 930
209
40
96, 373
448, 518
15, 020
153, 338
172, 621
615
553, 406
373, 266
400
502

""ief

200
2, 907
...-.

i

40
96, 373
448, 518
515

3, 412

602
439t

6.467
•

11, 093
153, 338
165, 552

.. . '..
176

553, 406
373, 266

406
502
.

4,055 544, 891

33,019

.325, 382 7,184, 466

575

* 13,614 "Miscellaneous" on 61 a.

8, 092, 725

337

I 1439 "Miscellaneons" on 61 a.

The following figures show the increase or decrease as to the various
kinds of spirits exported in the year 1882 as compared with the year
1881:
,
Gallons.

Decrease
Decrease
Decrease
Decrease

iu
in
in
iu

alcohol
rum
pure or neutral spirits
rye whisky

Total decrease

:

7, :369, 712
316,043
162,920
647
"

,

7,849,322
Gallons.

Increase in hourhon whisky
Increase in high wines
Increase iu gin

19, 833
395
3.37

Total increase

20, 566

Net decrease
SPIRITS WITHDRAAVN

\
FROM D I S T I L L E R Y WAREHOUSES
MENT OF TAX.

7,828,757
UPON

PAY-

• Gallons.

The quantify of .spirits withdrawn from distillery warehouses upbn payment of t a x was in lb82
'.. 70,730,180
And was i u 1881
,
67, 372, 575
Increase

3, 357, 605

This increase is distributed as follows :
Gallons.

Pourhou whisky
Rye whisky



".

897,088
780, 111

112

REPORT ON THE FINANCES.
Gallons.

Gin...
Pure, nentral, or cologne vspirits
Miscellaueous

--

66,607
3,895,015
1, 332,708

Total increase

6, 971, 529
Gallons.

Decrease in withdrawals of high wines
Decrease in withdrawals of alcohol
,
Decrease iu withdrawals of rum

3,224,977
373,715
15,232

Total decrease

,

3,613,924

Net increase iu withdrawals upou payment of t a x

3,357,605

SPIRITS WITHDRAAVN FROM WAREHOUSES FOR SCIENTIFIC PURPOSES,
AND FOR USE OF T H E UNITE!) STATES.

The quantity of alcohol withdrawn free of tax from distillery warehouses for the use of colleges and other institutions of learning in the
preservation of specimens of natural history in their several museums,
or for use in their chemical laboratories, and of spirits of various kinds
for use of the United States, amounted during the year to 14,048 gallons, or 10,854 gallons less than the quantity withdrawn during the
previous year. '
SPIRITS AATTHDRAAVI<f

FOR

TRANSFER
HOUSES.

TO MANUFACTURINO AVARE-

' The quantity of spirits withdrawn free of tax from distillery warehouses for transfer to Avarehouses established at ports of entry for the
manufacture of certain articles exclusively for exportation (seesec, 3433
E. S., and sec. 14, act of May 28, 1880), amounted during the year to
213,322 gallons, or 7,494 gallons more than the quantity withdrawn during the preceding year. The spirits withdrawn consisted of two A^arieties, as follows:
Gallons.

Alcohol....
Pure neutral or cologne spirits

163,556
49,766

Total

213,322

SPIRITS REMAINING- IN AVAREHOUSES AT T H E CLOSE OF THE YEAR.

In my report for the year ended June 30,1879, it was shown that the
quantity (19,212^470 gallons) in warehouses June 30,1879, exceeded the
quantity ih warehouse at the close of any preceding fiscal year. This
quantity, howcA^er, was much exceeded by the quantity (31,363,869 gallons) remaining in Avarehouse June 30, 1880, which latter quantity is
more than doubled by the quantity (64,648,111 gallons) in Avarehouse
June 30, 1881, and more than trebled by the quantity (89,962,645 gallons) in warehouse June 30,1882.
The following table shows the quantity remaining in distillery warehouses at the close of each of the thirteen fiscal years during which
spirits haA^e b^en stored in such warehouses :
Gallons.

Quantity
Quautity
Qnantity
Quautity
Quantity
Quautity

remaining
remaiuing
remaiuing
remaining
remaiuing
remaining




June 30,1869
J u n e 30,1870
June. 30,1871
J uue 30,1872
Jnne 30,1873
Juue 30,1874

.*
:.

:

16,685,166
.'.'11,671,886
6,744, 360
10,103,392
14,650,148
15, .575. 224

COMMISSIONER OF INTERNAL
:^

Quantity
Quantity
Qnantity
Cuantity
Quautity
Quantity
Quantity
Quantity

remaining
remaining
remaining
remaining
remaining
remaining
remaining
remaining

June
June
Juue
June
Juue
June
June
June

30,1875
30,1876
30,1877
30,1«78
30,1879
30,1880
30,1881
30,1882

113

REVENUE,
^

Gallons.

13,179,596
12,595,850
13,091,773
14,088,773
19,212,470
31,363,869
64, 648, 111
89,962,645

:
./...*
..:..•

WITHDRAWALS OF PRODUCTS, BY MONTHS.

The quantity of each month's product of spirits in warehouse July 1,
1881, which was withdrawn during the year ended June 30, 1882, is
shown in the following.tabular statement:
P r o d u c t of t h e m o n t h of—

In warehouse
J u l y 1,1881.

W i t h d r a w n dur- E e m a i n i n g i n
ing year ended
warehouse
J u n e 30, 1882.
J u n e 30,1882.

1878.
Gallons.
4,387
, 31,496
• 13,386
5,815
10, 6.51
37, 692
113, 832
•191,975

M o n t h s p r i o r to J u n e
June
July . August
September....
October
Novembei - . . - . .
December

Gallons.
4,387
31,496
13, 386
5.815
r, 10,651
37, 692
113,832
191, 975

Gallons.

1879.
January
February
March
April
:
M a y -....
June
July
August
September
October
November
December

299, 853
379, 408
442, 079
557, 035
626, 089
424, 662
207, 023
134, 606
193. 017
367, 481
645, 835
1,081,193

;

1

299, 853.
379, 408
442, 079
557, 035
610, 824
252, 644
112,878
75,913
85, 860
162, 740
250, 096
429, 685

15,265
172, 018
94,145
58, 693
107,157
204;741
395,739
651, 508

1, 453, 477
1,723,312
2, 316,138
2, 648, 272
2, 715, 802
2,335,213
1,409,-677
53.^ 837
891, 462
2, 001, 096
3, 087, 746
4, 300, 870

486, 968
529, 303
728, 537
775, 570
775, 085
. 749, 374
347, 122
140, 984
238, 534
363,865
560, 281
752, C08

966, 509
1,194, 009 .
1,587,601
1, 872,702
1, 940, 717
1,585,839
1, 062, 555
394, 853
652,928
1, 637, 231
2, 527. 465
3, 548, 262

4, 329, 474
4, 815, 051
6,121, 991
6,397,188
6, 287,1)56
5, 510, 934

722, 455
912,555
1,130, 714
1,167,008
1,102, 471
1,149, 058

1880:
Jannary
February
March
April
May
J u ue
July....
A ugust
September
October
November
December

-.
.a..

- 1881.
Jan uary
February
March
A pril
M ay
June

:.

..

64, 648, 111

Total

16, 700, 741

3, 607, 019'
3, 902, 496
4, 991, 277
5, 230,180
5,184,585
4, 361, 876
47, 947, 370

INCREASE OF SPIRITS IN WAREHOUSE.

More than seven-tenths of the spirits remaining in warehouse June
30, 1882 (63,011,282 gallons out of 89,962,645 gallons) was bourbon
8 F



114

REPORT ON T H E

FINANCES.

whisky. There was ah increase in the quantity in warehouse June 30,
1882, over the quantity in Avarehouse June 30, 1881, of 25,314,534- gallons, distributed among all kinds known to the trade, except alcohol, as
follows: /
•

Gallons.

Increase iu bonrbon whisky
lucrease i n r y e whisky
'.
^'Increase in rum ..
,
:
Increase in oin
,
lucrease in high wines
Increase in pure neutral, or cologne, spirits
Increase in miscellaneous
• .Less decrease in alcohol
Net increase

,. .'
-

19, 435, 406'
4, 742, 724
19, 594
.....
4, 554
: -.:
25, 289
.560,740
5^31, 687

V

• 25-369,994
.55, 4<i0

...:
.\

1. 25, 314, 534

SPIRITS RlilMOA^ED IN BOND FOR EXPORT.

The following statement shows the quantity and percentage of productionof distilled spirits removed in bond for export during eacli fiscal
year since the i)assage ofthe act ot June 6, 1872:
T a x a b l e (proof)
gallons
exported.

1873
1874.
1875..
1876
• 1877-.
1878
1879
1880
1881
1882

Percentage
ot p r o d u c tion.

2, 358, 630
4, 060,160
587,413
1,308,900
2, 529, 528
5, 49P, 252
14,837,581
16, 765, 666
15, 921, 482
8, 092, 725'

...1...
i.
:.
\

.
•

. 3. 45 45. 90-f
0.96+
2.25-f
4. 32-f
9. 8 0 +
20. 6 3 +
18. 55-f13. 52 +
7. 6 4 +

SPIRITS AVITHDRAAVN FOR EXPORT DURINO F I R S T FOUR MONTHS OF
PRESENT FISCAL YEAR.

Following is a statement showing, by districts, the number of g;allons .
ofeach kind of spirits removed for export duriug the first four months ^
ot the preseut fiscal year:
^
Alcohol;

F i r s t Califoinia
F i f t h Illinois
Sevenl;b I n d i a n a
Second K e n t u c U y
Fifth K e n t u c k y
Sixth K e n t u c k y
Seventli K e n t u c k y
Third Maryland
Third Massachusetts
I^Mftli Ma^Hnchu'^ctt^

P u r e , neut r a l , or
cologne
spirits.

Gallons.

Districts.

Gallons.
. 2,289

' 30,388'
17,136
,...
..(...
. .:'...

•

:

:

:

:

:

:

:

:

:

:

.. .
.:

Gallons.

Gallons.

Gallons.

878
1,189
2,446
694

588

•
1.......
!
:: 1 . .71,663: :
.:::

!

:

:

:

:

Miscellaneons.

Gallons..
a 237
62,576

:

:

:

:

:

:

:

:

11, 230

!""•

1
' " . '

47, 524




E.ye
M^hisky.

337, 868
• ;

. a Wheat whisky.

Boin b o n
wliisky.

•

Twen ty-third Penusylv'ania
Total.

Eum.

'

2, 289

10,619
3,772

. • • • • \ - \

409, 531

.5,207

b High-proof spirits.

.26, 209

2, 813

COMMISSIONER OF INTERNAL
V,

115

REVENUE.

STOCK F E D AT D I S T I L L E R I E S .

The following statement shoAvs the number of cattle and hogs fed at
registered grain distilleries, with their average and total increase in
weight, during the fiscal year ended June 30, 1882, by collection districts :

Di^.ricts.

B
Arkansas
F i r s t California
First Connecticut
Secoud Connecticut :
Second G eOrgia
T h i r d Georsria
,
Idaho
7
.-.
Firstlllinois
.Second Illiuois
Third Illinois
F o u r t h Illinois
F i f t h Illinois
:.....,
E i g h t h Illinois
T h i r t e e n t h Illinois
First Indiana
Fourth Indiana
Sixth Indiana
Seventh Indiana
Eleventh Indiana
Second Iowa
F i f t h I o w a . . .•
,..
Kansas..
.
Second K e i i t u c k y
Fifth Kentucky
Sixth Kentucky ..t
Seventh K e n t u c k y
Eighth Kentucky
iNinth K e n t u c k y
Fourth Maryland
Tenth Massachusetts
F o u r t h Missouri
Sixth Missouri
2^ebraska
Thiid New Jersey
First New York
T h i r t i e t h N e w Y o r k .."
F o u r t h N o r t h Carolina
Fifth North Carolina
Sixth North Carolina
F i r s t Ohio
Third Ohio...
F o u r t h Ohio
S i x t h Ohio
S e v e n t h Ohio
T e n t h Ohio
.,.
E l e v e n t h Ohio
I ' i f t e e n t h Ohio
E i g h t e e n t h Ohio . .
Eighth Pennsylvania
Ninth' Pennsylvania..
.
Twelfth Pennsylvania
Fourteenth Pennsylvania
Sixteenth Pennsylvania
Twentieth Pennsylvania
Twenty-second Pennsylvania .
T w e n t y - t h i r d Penn-sylvania . . .
South Carolina
,
Second Tennessee
Fifth Tennessee
Eighth Tennessee
Fifth Virginia
,
Sixth Virgiuia
S e c o n d AVest V i r g i n i a .
. F i r s t AVisconsin
T h i r d AVisconsin




460
107

250
2.50

115, 000
26, 750

287
21

355
110

101, 885
2,310

, 424

15.5+
2.50+
210+
218

3,195
912
1,500

212+
144+
206

191,
241,
4, 001,
688,

436
750
500
880

132,128
309, 000

440
1,200

209+
307

92, 000
868,400

3,283
13, 300
2,771
4, 101
1,275
245
27
180

202+
172224194+
334
200
205+
333+

664, 778
2, 294, 805
623, 070
798, 896
427, 000
49,000
5,550
60, 000

1,000
1,577
151
200
1,233
13
125
800
7,092
1,179
88
706
148
54
741

200
225
300
425
235
100
XJV
6363+
8
1
85+
222:224193 +
200
'210
250
337+
178+

200, 000
• 354,825
45, 300
85, 000
289, 755
1,300
7,975
68, 000
1, 574. 424
228, 491
17, 600
190, 620
. 37, 000
18, 200
132, 600

221+
200
204+
106+
200
99+
74+
181-1272+
353+

11, 500
•400
14, 900
9,900
3, 600
9, 025
5,050
50, 000"
153,120
13, 426

245+

291, 500

1,188

170+
530
10

31+
114+

10
1,949
169
350

100
92
70
50

1,600
2,688
2, 000
200
9,121
662

121
116
100
120
12718i

15
,000

100
150

282+! 2, 378, 900

1, 228
967
19, 004
3, 100

73
93
18
91
68
275
561

200
15, 747

235
300

8,700
124, 550
3, 000

3, 715
3,833
3, 504
1,540
2,050
. 95
602
8
242
650
33

'^

61+
114+
110+
137+
140+
197+
116+
300
86-f
94+
60+

224
1,781
3, 750
11,348
1, 200
340
167
1,222
3,611
1, 900
100
164
62
1,176
95
. 920
1,900

52+
115
98
129
130
16.5+
79
108
91+
116
125
105+
120
120+
151 +
98+

7, 500
67
692
409
2,170
35
155
1,332
1,805

111+
49+
76+
116+
97+
57+
100+
73+
105+

83-4-

200

6,250
1,801,950
1,000
.179, 308
11, 830
, 17,500

6,250
1,916,950
26, 750
1,000
281,193
. 14,140
17, 500
2, 378, 900

191,436
241, 750
193,600 4,195,100
311,808 1,000,688
200, 000
200,000
24, 000
24, 000
, 158, 895 1,839,293
122, 527
254,655
309, 000
1,500 '
1,500
242,000
150,000
368,400
56,120
56,120
425, 090 1, 089, 868
425, 213 2, 720, 018
480,-697 1,103,767
215, 800 1,014,696 .
405, 000
832,000
56,350
7,350
70,332
v 75, 882 ,
62,400
2,400
20,933 .
.
20, 933
61. 275
261,275 .
1,980
356, 805
•45,300 i
85,000 •
. 289, 755
12,950
11,650
204,815
212,790
367, 500
435, 500
. 463, 892 3, 038, 316
,
384, 491
156,000
56, 300
73, 900
203,813,
13,193
131,976
168, 976
329, 387
347,587 •
222, 000
354, 600
12; 500
12, 500
17; 350
28, 850
7,840
7, 440
141,562
156, 462
14, 375
24, 275
90. 325
93, 925
158, 471
167, 496
5, 050
887, [soo
837, 500
156,419
3,299
66, 094
52, 668
47, 620
47, 620
502, 300
210, 800
2, 000
2, 000
• 15,500
15, 500
106, 994
98, 294
190, 660 . 190,660
124, 550
1, 600
4,600

116

REPORT ON T H E

FINANCES.

The following statement gives the number of cattle and hogs fed at
registered distilleries, arranged by States:

.9 ^^

state.

fcdCp

2^

o bD

S bO

^.i o bD.

bD'^

3|1
O t^ C3

A r k a n s a s ..
California..
Connecticut
Georgia
Idaho
Illinois
Indiana
Iowa
Kunsas
Kentucky
Maryland
Massachusetts .
Missouii
Nebraska
:.
Nevv J e r s e y
N e w Yoik"
N o r t h Carolina.
Ohio
Pennsylvania ..
South Carolina.
Tennessee......
Virginia
AVest V i r g i n i a .
AVisconsin .
Total

200
15, 747
10
2,118
350
6,288
9,998
1,000
908
14, 737
602
8
892
33

31+
114+
100
• 90+
50
108+
1304
150
61 +

127, 550

5,755
20, 052
11,720
•692
2,614
1,487
1,805
8

583, 965
2, 402, 598
1, 252, 972
76+1
52, 668
99 + j
260, 420
76+
113,794
105 +
190, 660
200
1,600

6,250
1,916,950
. 27,750
295,-333
17, 500
8, 207, 874
2, 428, 448
610, 400
56,120
6, 816, 699
75, 882
. 62,400
282, 208
356, 805
. 45, 300
374, 755
661, 240
4, 613, 033
1, 498, 967
66, 094
551,920
122, 494
190, 660
129,150

18, 203,197

97,024

11,211,035

29,414, 232

460
107

250
250
338+

115,000
26, 750
104,195

32, 783
5, 607
1, 640

228+
200+
280+

7,502,466
1,121, 526
460, 400

24, 975
27
180
1,000
1, 577
151
1, 433
938
10, 060
1,181
38
1,188
51
540
,. 84,244

194+

4, 857, 549
• 5, 550
60, 000
200, 000
354, 825
45, 300
374, 755
82+1
77, 275
2192, 210, 435
245, 995
208:
13, 426
353+
291,500
245+1
170+
8,700

•205+1
333+
200
225
300
261,.

236+]

6, 250
1, 801, 950
1,000
191,138
17,500
705, 408
1; 306, 922
150, 000
,56,120
132+1 1, 959,150
70, 332
116+
300
2, 400
92+
82, 208 .
1
^60+]
1,980 i
101+
114+
106+

SUMMARY.

Number of cattle fed at registerecl graiu distilleries in the United States
84,244
Average increase in weight of cactle
ponnds...
216.07-|Total increase In weight of cattle
...do
18,203,197
Niunber of hogs fed at registered grain distilleries in the United States.
97, 024
Average increase in weight of hogs
pounds.:
11.5.54-jTotal increase in Aveight of hogs
do
11,211, 035
Total nnmber of cattle and hogs fed
181,268 .
Average increase in weight of cattle,and hogs
pounds..
162.26-j-»
Total increase in weight of cattle and hogs
do
29,414,232




COMMISSIONER

OF INTERNAL

DISTILLERIES

117

REVENUE.

REGISTERED.

The following statement shows the nnmber of distillei:ies registered
and operated during the fiscal year ended June 30, 1882:
Grain.

N u m b e r registered.

Molasses.

it
States and Territories.

f

•3D

•

Si
a

•

Arkansas

Marvland
.
Massachusetts
Mississippi

•i..
. . . .
•;

;....

..
....

46
1
26
17
4
2
228
1
18
2

29
2

1

5
442
39

4
312
37

84
2S
84
3

79
19
69
.3

...i.

24
.4
5

24
4
5

Total

1,147

934

a

125

a

1

J

82
1
290

26
10
235
84
82
1
290

26
52
5

26
52
5

460

460

14
16
1
55

14
16
1
55

26
10
235
84

3

6

1
103
7
85
1,036
55
8
47
9
235
1
8
1,000
130
7

7

103
7
85
1,036
55
8
47
9
235
1
8.
1,000
130

4,081

4,081

'd

1
§•
OJ

a
Pl

0

a'

17
1

1

M
a .

OP

•

Nebraska
New Hamnshire
. .
New Jersev . . . . . .
.
N e w Mexico
New York . . . :
N o r t h Carolina
.
.
......
Ohio
Oregon
^
Pennsylvania
South Carolina
Texas
Verraont
Virginia
W e s t Virginia
AVisconsin

o

?

1

1

I

47
1
26
19
4
2
256
1
19
2

1
1

ob

0

1
12
4
3

-.

Delaware
Floiida
Georgia
Illinois
Indiana
Iowa
Kansas

a

Fruit.

•1

33
, 22
239
87
.82
1
337
1
52
71
9
. 2
716
1
33
24
1
84

I
104 .
7
90
1,478
94
.8
131
31
319
4
8
1, 024
134
5
5,235

28
15
239
87
82
1
336
1
52
69
9
2
688
1
32
24
1
72
1
1
104
7
89
1 348
92
8
126
28
304
4
8
1,024
134
5
5,022

NOTE.—Many tabular statements are omitted for want of space, b u t they will be
found in the bound volumes of the Commissioner's report.




118

REPORT ON T H E

FINANCES.

COMPARATIVE STATEMENT AVIT.H PREYIOUS YEARS.

Following is a statement showing, by districts, the quantity, in taxable gallons, of spirits withdrawn for export during the four months
ended October 31, in the years 1877,1878, 1879, 1880,1881, and 1882:
Districts.

1877.

1878.

1879.

1, 043, 630
98, 711
1, 334, 489

513, 097
128, 505
1, 436, 534
214, 380
25, 913

1880.

1881.

1882.^

/
F i r s t California
Tirst niinois
T h i r d Illinois
F i f t h Illinois
E i g h t h lUinois
First Indiana
. ..
Fourth Indiana
.
Seventh Indiana
Second I o w a
Fifth Iowa
...
Second K e n t u c k y
Fifth Kentucky'.
Sixth Kentuckv
Seventh Kentucky
•Eighth K e n t n c k y
Third M a r y l a n d ' . . . . . . . . . . . . . . . .
Third Massachusetts
Fifth Massachusetts
F i r s t Missouri
..
. .
Nebraska
First New York :
F i r s t Ohio
T h i r d Ohio
S i x t h Ohio
Twenty-second Pennsylvania
Twentv-third Pennsvlvania
F i r s t W^isconsin
Total




ies, 376
43, 088
218, 411
6,327

52, 352
394,839

1,022

'
7, 687
26, 233
289, 365

•

441
94, 309
52, 036
879, 486
183,299
,53, 511
12.5, 267
167, 792

2, 526
30, 388

19, 712

1,367
139

2,141

878
1, 777
2, 446
694

84, 062
369, 840

106, 216
263, 078

61, 068
227,407

11, 230
71, 663
337, 868

20,134

98, 261
7,909
128, 351
43,953
1,938

16,698

1,064
2,493
1, 096
1,053
147,642
357, 900
200, 494

5, 986
21, 497

180
265, 050
• 252,527
1, 453, 922
812, 937
68, 200
13, 362
192, 441
117, 732
196,729

7,886
53, 906

17, 436

2,479

28, 515
80, 637
292

10, 619
3, 77'2

1, 979, 505

493, 573

4. 404
787, 471

3,302,766

3, 209,144

4, 024, 292

COMMISSIONER OF INTERNAL REVENUE.

119

S P I R I T S IN D I S T I L L E R Y AA^AREHOUSES NOVEMBER 1, 1 8 8 1 a n d 1 8 8 2 .

Followiog is a statement of the quantities of spirits remaining in distillery warehouses November 1, 1881 and 1882 :
Gallons.
District.

econd Alabama
Arkansas
F i r s t California
Colorado
.First Conuecticut
".
Second Connecticut
Second G e o r g i a
Third Georgia
Ifiaho
F i r s t Illiuois
-S e c o n d Illinois
T h i r d Illinois
Fourth Illinois...
F i f t h Illinois -.
E i g h t h Illinois
T h i r t e e n t h Illinois
First ludiana
^.
F o u r t h Iudia,na . . . . . ' .
^....
Sixth Imliaua
'....
Seventh Indiana
Eleventh Indiana
Second I o w a
Fifth Iowa
Kansas
'
Second K e n t u c k y
Fifth Kentucky.'
Sixth Kentucky,
Seventh K e u t n c k y
Eighth Kentiicky
Ninth. Kentucky
Lonisiana
Third Maryland
F o u i t h Maryland
Third Massachnsetts
Fifth Massachusetts
Tenth Massachusetts
F i r s t Missouri
;
Second M i s s o n r i
Foui'th Missouri
Fiftii Missouri
."
Sixth Missouri
Nebiaska
New Hampshire
Third New Jersey
F i r s t N e w Y o r k -...
Twenty-first N e w Y o r k
Tweuty-fourth N e w York
Thirtieth N ew Y o r k
Second N o r t h C a r o l i n a
,
F o u r t h North Carolina
Fifth N o r t h Carolina
Sixth N o r t h Caroliua
FirstOhio
T h i r d Ohio
F o u r t h Ohio
S i x t h Ohio
S e v e n t h Ohio
T e n t h Ohio
E l e v e n t h Ohio
F i f t e e n t h Ohio
E i g h t e e n t h Ohio
First Pennsjdvania
Eighth Pennsylvania
Ninth Pennsylvania
Twelfth Peniisylvania
Fourteenth Pennsylvania..:..,
Sixteenth Pennsylvania
Twentietli Pennsylvania
Twenty-second Pennsylvania.
Twenty-third Pennsylvania ..
South Carolina......"
Second Tennessee
Fifth Tennessee




5,942
14. 253
222, 382
2, 388
25, 956

1,240
8,134
332, 918

21, 261
1,415
5,508
126,162
57, 839
19, 455
43, 567
592, 421
63, 745
2,431
33, 769
625, 864
30, 313
186,298
3,663
3,196.
1,560
28, 319
721,493
820, 752
1.50, 865
397, 751
181, 288
372, 511

11, 477
543
6,894
1,180, 256
67,375
50,334
841, 589
. 53, 605
. 1,224.
39,312
1, 468, 538
• 22,457
. 131,141
2,573
1,'973.
• 22,502
34, 067
7, 58t>, 853
30, 567, 253
5, 4711, 604
13, 928, 212
1,563,460
484, 087

589, 747
133, 959
114, 976
299,102
32,176
70, 534
12, 380
7,721
3,107
112, 870
198, 284
29, 712
187, 654
32, 359
23, 461
4, 295
220, 910
1,726
3, 0.53
47,231
85,173
550, 850
552, 224
64, 962
648, 239
53, 850
265,139
89, 607
111738
11,259
701, 044
41,439
132, .532
9,516
169, 373
108. 852
29,141
.422, 394
069, 560
5, 677
10, 006
424, 392

3, 851, 107
169, 900
121, 276
3ii9. 653
40, 388 .
35, 485
6, 025
4, 240
2, 525
114, 182
19.5, 203
31, 490
191, 978
64, 405
19, 188
1, 110
260, 363
553
1, 831
12, 639
73, 386
1. 384, 717
555, 517
65, 176
681, 734
45, 858
244, 417
047
833
16, 670
817, 039
41, 858
200, 919
13, 337
178, 099
137. 678
32, 121
5, 367, 879
2,675, 326
2, 587
4, 283
1, 355, 403

15, 394

120

E E P O R T ON T H E

FINANCES.
Gallons.

District.

•

1881.

1882.

•
'.
.'

Total

..

3,989
8,398
95
810
6,749
171,548
854, 913
50, 940
155

3,094
187, 945
981, 881
129,191
539

67,442,186

Eighth Tennessee
Third Texas
Fourth Texas
T h i r d Viro-inia
Fifth Viroinia
S i x t h Vii'ginia
Second AVest V i r g i n i a
First Wisconsin
Third Wisconsin

2, 807.
5,713
721

84, 628, 331

USE OF ALCOHOL IN TIIE ARTS AND MANUFACTURES.

The subjoined statement of alcohol used in tbe arts and manufactures
is prepared from statements of collectors iirocured when thequestion
of using such spirits for the purpose stated free of tax was under consideration during the first session of the Forty-seventh Congress. (See
pages 31 and 32, Ko. 152, Vol. 13, Congressional Eecord.)
STATEMENT hy DISTBICTS, and in PBOOF-GALLONS, of the QUANTITY of
' ALCOHOL USED inthe ABTS and MANUFACIUBES durinq the year ended April
. 1, 18H2 ; also the QUANTITY ESTIMATED luliioh IVOULD HAVE B E E N USED
in CASEi the TAX WEBE 50 CENTS P E B GALLON, and in CASE T H E B E
^ WEBE NO TAX.
Quantity used and estimated.
District and State.

Estimates.
Actually
used.'

A t 50 c t s . A t n o t a x

Alabama
Alabama.....
Arizona
Arkansas —
California —
Connecticut.
Connecticut?
Colorado
Dakota
Delaware . . .
Florida
Georgia
3. G e o r g i a .

4,900
10, 000
1,308
200
5,000
16, 800
75, 369
7,832
4,000
6,260

7,994
• 1.5, 000
1, 308
200
5, 000
21, 000
111, 953
9,148
4,000
7,512

13, 235
20, 000
1,308
200
5,000
33, 600
198, 026
13, 045
4 000
8,138

9, 362
43, 350

14,418
43, 350

22, 425
54,187

Idaho ..
1. I l l i n o i s .

400
41, 917

400
43, 777

400
46, 730

2.
4.
5.. 7.
8.
13.
1.

Illinois..
Illinois..
Illiiiois..
Illinois..
Illinois..
Illinois.Indiana .

16, 500
21, 757
5,000
20, 000
13, 812
6,000
1.5, 511

16, 500
22, 241
5, 500
20, 000
. 15, 867
6,000
21, 472

16, 500
23, 341
5,500
20, OOtf
18, 032
6,000
40, 338

4.
6.
7.
10.

Indiana.
ludiana.
Indiana.
Indiana.

4,000
50, 000
16, 948
39, 067

4,000
62, 500
20, 116
44, 269

4,000
75, 000
22, 538
48,160

11. I n d i a n a .
2. I o w a

12, 500
10, 000

12, 500
10, 000

12 500
10 000




15y whom used.

Chemists, druggists, photographers.
Not stated.
Apothecaries, photographers, painters.
Not stated. .
C e n t r a l Pacific R a i l r o a d ComiDany a n d o t h e r s .
Not stated.
Not stated.
D r u g g i s t s ancl m a n u f a c t u r i n g c h e m i s t s .
Not stated.
Not stated.
None, except small quantity b y druggists.
Druggists.
D r u g g i s t s , photogra.iihers, t o b a c c o m a n u f a c t urers.
Druggists.
C h e m i s t s , d r u g g i s t s ; v a r n i s h , t o b a c c o , w h i t e lea^,
and h a t manufacturers, and jihotographers.
Not stated.
N o t stated.
Not stated.
N o t stated.
Not stated.
Not stated.
70 p e r c e n t , b y d r u g g i s t s in m a k i n g t i n c t u r e s ;
b a l a u c e b y m a n u f a c t u r e r s of f u r n i t u r e , m a chinery, photographs, and hats.
N o t stated.
N o t stated.
N o t stated. .
Eailroads, machinists, brass founders, carriage
manufacturers, druggists, photographers'perfumers, chemists, p l u m b e r s .
N o t stated.
D r u g g i s t s , p h o t o g r a p h e r s , a n d m a n u f a c t u r e r s of
p a i n t s , oils a n d flavoring e x t r a c t s , &c

COMMISSIONER OF INTERNAL REVENUE.

121

STATEMENT hy DISTBICTS and PBOOF-GALLONS, ^c—Contmued.
Q u a n t i t y used and estimated.
District and State.

3. I o w a

Estimates.
Actually
used.
A t 5 0 cts.
A t no t a x .
tax.
11.9, 304

3.
4.
3.
5.
10.
1.
3.
4.
6.
1.
2.
, 1.

"36," 666

2,000

2,000

3,320

7. K e n t u c k y
8. K e n t u c k y
%. K e n t u c k y
Louisiana

• 30,000
6,170
12, 000

"25,666

4. I o w a
5. l o w i i
Kansas
2. K e n t u c k y
5. K e n t u c k y
6. K e n t u c k y . . .

149, 594

30, 000
6, 170
12, 000

-.

3, 320

'"'"2," 666" """2,"666'
58, 500

62, 450

130, 000
Maine
169, 890
Maryland
Maryland
3,328
M a s s a c h u s e t t s . . . 732, 600
M a s s a c h u s e t t s . . . • 250, 000

130, 300
226,520
4,363
769, 230
275, 000

Massachusetts...
Michigan
Michigan
Michigan
Michigan
'.
Minnesota
Minnesota
Missouri

104,350 • 104,550
.113,245
150, 993
7,000
7,000
10, 000
10, 000
3.5, 000
38, 500
11, 280
11,280
13,190
17, 000
217,100
352, 6U0

2. M i s s o u r i
4. M i s s o u r i
5. M i s s o u r i

4,000
2,072
10, 892

4,000
2,400
11, 852

6. M i s s o u r i
Montana
Nebiaska
New Hampshire .

14, 800
1,500
1,500
67, 500

14,920
1, 500
1, 500
67, 500

1 500
T,000
• 4, 500
83, 667
1,600
137, 240

1,500
1,000
4,500
312, 443
1, 700
149, 840

Nevada
1. N e w J e r s e y
•3. N e w J e r s e y .V
5. N e w J e r s e y .
N e w Mexico
1. N e w Y o r k

'

2.
3.
11.
12.
14.
15.
21.
24.
26.
28.

NewYork
NewYork
NewYork...:....
NewYork
NewYork
NewYork
NewYork
NewYork
NewYork
NewYork........

365, 000
55, 422
35, 229
28, 000
135,000
6,000
4,500
6,064
1,800
.70.000

356, 000
55, 422
44, 036
36, 000
200, 000
6,000
5, 000
7,544
1,800
85, 000

30.
2.
4.
5.
1.

NewYork..
North Carolina...
North Carolina...
North Carolina...
Ohio

37,104
2,310
3,790
350
73,297

45, 598
2, 425
4, 737
350
118, 241

3.
4.
6.
7.
10.
15.
18.
• 1.

Ohio
Ohio
Ohio
Ohio
Ohio....
Ohio
Ohio
Pennsylvania . . . .

10, 405
11, 281
2 818
8,840
6, 000
5, 000
65,135
150, 000

13, 960
11, 847
2,818
8,840
8,000
5,000
195, 609
195, 000




191, 978

By whom used.

F o u r w h o l e s a l e a n d 291 r e t a i l d r u g g i s t s and 180
photographers.
30, 000 N o t s t a t e d .
6,170 N i n e t y d r u g g i s t s .
12,000 D r u g g i s t s .
' None.
"75,'666' F i f t y l e a d i n g b u s i n e s s m e n
2,000 M o s t l y by d r u g g i s t s i n q u a n t i t y , a n d b y t o b a c c o
m a n u f a c t u r e r s trifling.
3,320 E i g h t y - t h r e e " p l a c e s , ' ! p r i n c i p a l l y d r u g g i s t s .
None.
'2,060' Druggists and others.
308, 450 D r u g g i s t s , p e r f u m e r s , p h o t o g r a p h e r s , a n d tobacco manufacturers.
131, 800 D r u g g i s t s a n d 1 v a r n i s h m a n u f a c t u r e r .
339, 780 D r u g g i s t s a n d o t h e r s .
.5, 596 D r u g g i s t s a n d o t h e r s .
805, 860 N o t s t a t e d .
400, 000 T o b a c c o m a n u f a c t u r e r s , c h e m i s t s , d n i g g i s t s , p h o t o g r a p h e r s , &c.
. 106, 350 N o t s t a t e d .
198,178 M a n u f a c t u r i n g c h e m i s t s p r i n c i p a l l y .
7,000 N o t s t a t e d .
10,000 N o t s t a t e d .
46, 667 N o l a r g e m a n u f a c t u r e r s u s i n g alcohol.
11, 280 R e t a i l d r u g g i s t s and p h o t o g r a p h e r s .
25, 000 N o t stated.^
628,100 C h e m i s t s , d r u g g i s t s , p h o t o g r a p h e r s ; t o b a c c o ,
v i n e g a r , p a i n t s , h a t s , flavoring e x t r a c t s .
4,000 N o t s t a t e d .
2,850 N o t s t a t e d .
12, 562 D r u g g i s t s , p h o t o g r a p h e r s , t o b a c c o m a n u f a c t u rers'.
18, 870 N o t s t a t e d .
•
1,500 D r u g g i s t s a n d p h o t o g r a p h e r s .
1,500 N o t s t a t e d .
67,500 A b o u t 6,500 gallons b y p a i n t e r s , p h o t o g r a p h e r s ,
and manufacturers; balance b y druggists.
1,500 N o t s t a t e d .
1,000 N o t s t a t e d .
4,500 D r u g g i s t s , p h o t o g r a p h e r s , «fec,
396, 977 N o t s t a t e d .
2, 000 N o t s t a t e d .
184, 000 C h e m i s t s , d r u g g i s t s , h a t t e r s , p h o t o g r a p h e r s ; t o bacco, p i c t u r e f r a m e - y a r n i s h m a n u f a c t u r e r s . .
494, 000 N o t s t a t e d .
83,133 D r u g g i s t s a n d varni-sh m a n u f a c t u r e r s .
.52,843 N o t stated.*
. .
50, 000 N o t s t a t e d .
275, 000 N o t s t a t e d .
,
6, 000 D r u g g i s t s ; no l a r g e m a n u f a c t u r e r s .
5, 000 N o t s t a t e d .
14, 044 N o t s t a t e d .
r, 800 N o t s t a t e d .
100, 000 P a t e n t - m e d i c i n e a n d p e r f u m e r y m a n u f a c t u r e r s ,
a n d sinall l o t s b y h a t t e r s , t o b a c c o m a n u f a c t urers, photographers,:&c.
125, 000 M a n u f a c t u r e r s of m e d i c i n e s , vinegar,-&Ci
2,772 N o t s t a t e d .
7,580 N o t s t a t e d .
700 N o t s t a t e d .
247,978. T o b a c c o m a n u f a c t u r e r s , p h o t o g r a p h e r s , m a n u f a c t u r i n g c h e m i s t s , d r u g g i s t s , ha-t-manufactu r e r s , v a r n i s h m a n u f a c t u r e r s , f u r n i t u r e , pict u r e - f r a m e s , &c.
20, 720 N o t s t a t e d .
15, 290 D r u g g i s t s a n d m a n u f a c t u r e r s .
\
2, 828 D r u g g i s t s a n d o n e p a i n t f a c t o r y .
8,840 N o t s t a t e d .
10, 000 N o t s t a t e d .
10, 000 N o t s t a t e d .
280, 544 N o t s t a t e d .
195 000 M a n u f a c t u r i n g c h e m i s t s , w h i t e - l e a d m a n u f a c t u r e r s , d r u g g i s t s , &c. D r u g g i s t s a n d c h e m i s t s
30,000, h a t m a n u f a c t u r e r s .

122

REPORT ON THE

FINANCES.

STATEMENThy DISTBICTS and PBOOF-GALLONS, c/c—Continued.
Quantity used and estimated.

Actually
used.

A
tax.

8. P e n u s y i v a n i a
9. P e n n s y l v a n i a
12.
14.
16.
19.
20.
22.
, 2;
•5.
8.
1.
3.
4.
\

Pennsylvania
Pennsylvania
Pennsvlvania
Pennsylvauia
Pennsylvania
Pennsylvania . . . .
Rhodelsland
vSouth C a r o l i n a . .
Tennessee . . . . : . .
Tennessee
Tennessee
Texas
Texas..
Texas

Photoeraphers, machinists, plumbers.
Druggists, photographers, varnish manufaotu-

19, 4.54 ' 26,003
7, 083
8, 000
7,774
8,551
1.5, 500
• 15, 500
23, 200
23, 200
260
260
150, 000
150, 000
450
450
15, 000
1.5,000
19, 625' . 30,000
l:{, 000
17, 000
5,000
5, 000
200
200
8,351
8,351

35, 897
10,000
8, 551
1.5, 500
2.3, 200
260
150, 000
450
15, 000
100,000
20, 000
5,000
200
8,351

N o t stated.
N o t stated.
N o t stated. '
D r u g g i s t s , perfumei'^, &c.
D r u g g i s t s , a r t i s t s , &c.
One t o b a c c o m a n u f a c t u r e r ;
Not stated.
Not stated.
N o t stated.
Not stated,
N o t stilted.
Not stated.
Hatters and photographers.
One h u n d r e d a n d sixty-five d r u g g i s t s a n d nhotographers.
Photooraphers and druggists.
N o t stated.
N o t stated.
«
D r u g g i s t s a n d p h o t o g r a p h e r s , b e s i d e s tobacco
a n d c i g a r m a n u f a c t u r e r s , u s e d 13,400 rum and
rectified s p i r i t s .
N o t state'd.
N o t stated.
N o t stated.
D r u g g i s t s ' , 10,000; o t h e r s , 1,000.
N o t stated.
Wholesale druggists and others.
Druggists and perfumers.
N o t stated.
M a n u f a c t u r i n g c h e m i s t s , d r u g g i s t s , tobacco m a n • u f a c t u r e r s , (fee.
Druggists and photographers.

4.
5.
6.
1.
2.
1.
2.
3.
6.

600
600
2, 800
4 200
3,117
4, 026
11,000
•11,000
3,500
3,500
2,000
2,000
20, 580 ^ 20,580
• • 9, 250
12,100
10, 000
10, 000

Wyoming
Total.

,

52, 500
10, 000

•. 8,000
19, 306
7,622
14,120

•

A t no t a x .

35, 000
8,000

35, 000
8,000

Utah .....:..
Vermont
2. V i r g i n i a . . . 1
3. Y i r g i n i f i
Virginia
Virginia ...
Virginia
W e s t Virginia ...
W e s t Virginia . . .
Wisconsin
Wisconsin
W isconsin •-.
Wisconsin .

B y whom used.

Estimated.

District and State.

2,000

8,000
19, 306
10, 000 •
14,120

2,500

8,000
19 306
14. 000
17, 650
. 700
5,000
4, 601
11, 000
4, 375
2,000
21,080
15,300
10, 000
2, 750

•.

4, 269, 978 5, 397, 224 7, 367, 594

OPERATIONS AT SPECIAL BONDED .WAREHOUSES FOR
ORAPE BRANDY.

STORAGE OF

The following statement shows the quantity of grape brandy placed.in
special bonded warehouses, withdrawn therefrom, and remaining therein
at the beginning and close of the fiscal year ended June 30,1882, in taxable gallons:
^
•
.
Gallons. Gallons. Gallons.

Remaining in warehouse July 1, 1881:
F i r s t d i s t r i c t of C a l i f o r n i a - . - . . . . . . . ,
Fourtb district of California

136,174
80,475

216,649
Removed for exportation and unaccounted for July 1,1881:
First district of Cali fornia
-.
675
...... • - : ..:-..•.••..• .
• ^ ^
.,.
.
217,324
Produced and bonded during the year:
Produced and warehoused iu first district
145,892
. Prodiiced in fourth and warehoused in first district
45, 614
•: Produced and warehoused in fourth district
190,319
. - ; '
381,825
Increiase by re-gauge in fourth district
2
Trausferred from first district to fourth district
4,999.
Tran.sferred from fourth district to first district
10, 877
15,876
-:,397,703.
.
Exported and accounted for during the year:
First district of California
"...



,

/'

'
463

615,027-

COMMISSIONER OF INTEENAL
Removed tax-Y)aid during the year :
First district of Calif<u'n ia
Fourth district of California

123

REVENUE.

Gallons. Gallons. Gallons.
108,907
59, 717
168,624

.•

Loss by re-gauge, act of May 28, 1880:
First district of California...:
Fourth district of California

3,351
2, 216
—

Trausferred from first to fourth district
Transferred from fourth to first district

5,567

4,999
10, 877

:
.

15,876
190,530

Removed fbr exportation and unaccounted for J u n e 30,, 1882:
First district of California
Remaining in w^arehouse Juue 30,1882:
First district of California
220,687
Fourth district of California
'....
202,985

825

423,672
424,497
615,027

Of the 381,825 gallons grape brandy bonded during the last fiscal year
145,892 gallons were produced in the"^ first district and 235,933 gallons in
the fourth district of CaUfornia. The total product was 141,701 gallons
more than in the previous year, while the amount removed tax-paid was
27,155 gallons larger than in 1881.
Of the quantity in warehouse June 30, 1882, 220,687 gallons were in
thefollowing warehouses in the first district of California:
Gallons.
No. 1. Bode & Danforth, at San^T^'rancisco
No. 2. J u a n Bernard, at Los Angeles
No. 3. G. C. Carlon, at Stockton

"
...*.....

: . . . . 153,587
47,203
19,897

and 202,985 gallons were in the following-named warehouses in the
fourth district of California: *
,
Gallons.
No. 1.
No. 2.
. No. 3.
No. 4.

George Lichthardt, at Sacraraento
100,936
J. F. Boyce, at Santa Rosa.
:
28, 326
H. J. LeweUing, at Saint Helena
58, 764
John Tivnen. at Sonoma
14,95^
NUMBER OF B R E W E R I E S AND NUMBER OF RECTIFEERS.

The following statement shows, by States and Territories, the number
of breweries and rectifiers in the United States:
O

•3 2

Alabama..
Arizona
Arkansas
California
Colorado
Connecticut . . .
Dakota
Delaware
Florida
Georgia
Idaho
Illinois
Indiana
Iowa '.
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts .
Michigau
Miunesota
Mississippi . . . .
Missouri




30
241
34
24
22
6.
1
17
130
68
123
21
•34
10
71
30
134
116
•72

O 03

OD

o o

States.

is

States.

Montana
Nebraska
^.. Nevada
New Hampshire
'.
N e w J ersey
N e w Mexico
New York
N o r t h Carolina.
Ohio
Oregon...'.
Pennsylvania
Rhod.e I s l a n d
South Carolina
Tennessee
Texas.
Utah.
Vermont—
Virginia
Washington Territory .
W e s t Virginia
Wisconsin
Wyoming
Total,...

24
29
41
5
. 53
6
349
1
177
43
328
4
2
2
23
18

1
2
2
1
15
1
204
6
107
5
206
8
1
2
'12

214
7

26

2,557

,157

124

REPORT ON T H E FINANCES.

EXPOETS, DRAWBACKS, BANKS, AND ASSESSMENTS.
The subjoined tables giv^e details of the exportation of the difi'erent
articles subject to internal-revenue taxation, of the amount of drawback
allowed, of the capital and deposits of banks and the assessments made
thereon, and of the assessments made in regard to other objects of taxation.
EXPORTATION OF MATCHliS.

The exportation of friction matches, proprietary articles, &c., under
section 19 of the act ofMarch 1, 1879, has been as follows:
N u m b e r of
articles.

A m o u n t of
tax.

23.5, 716
36,066,221

Remaining unaccounted for June 30, 1881
Bonded during the year ended J u u e 30, 1882

>

$2,723 52
377, 269 54

36, .301, 937

- +

- -•

376, 446 34
3, 546 72

36,301,937
'

379, 993 06

35, 974, 874
327, 063

Exported during the year
Remaining unaccounted for J u n e 30, 1882

379, 993 06

•

DRAWBACK.

Port.

Baltimore
Boston
Laredo .
......
Milwaukee
New York
N e w Orleans
Philadelphia . . . . .
Richmond
San Francisco
S a i n t Louis
Suspension Bridge
Troy
Total
A l l o w e d 1881

24
10
1
21
695
32
13
1
89
18
1
4

•
Cigars.

Tobacco.

$1,106 14
433 52

$35 20 i

29, 805 06

336 40

1,220 40
258 16
774 14
.

12 96
84 24

$18
46
698
1, 505
917

-"I
I

96
25
39
72
73

j

1

i
1
$20 00 .*! OdP 40
•

•

4, 697 76 i i, 309 87
j..

Stills..

.$96 25

I

Distilled
spirts.

o

Fermented
liquors.

Proprietary
articles.

Following is a statement of drawback of internal-revenue taxes allowed on exported merchandise during the fiscal year 1882 :

40 00
.

917 10

726 13

Total.

$1,237 59
452 48
' 46 25698 39
32, 717 18
917 73
1 220 40
258 16
7, 738. 87
726 13
12 96
84 24

909

33, 695 22 | 5, 069 36 | 1, 406 12 | 3, 913 18

60 00

1, 966 50

46,110 38

749

28 4S3fi71 8 .596 60 1,232 43 1 1 I9fi 3fi

220 00

1,161 90

40, 849 26

In connection with the foregoing statement I have to renew the recommeindation made in niy previous reports (1880, 1881), that section 3244,
Rev. Stat., be /SO amended as to include distilling worms belonging to
stills manufactured for export, which, like stills, are subject to a tax
of $20 each. Also, that an appropriation be made for the payment of
drawback on articles exported under said section 3244, Eev. Stat. While
a number of claims covering stills have been allowed by this office
during the past three years, and by the authority conferred by section
3244, yet the claimants in such cases have been unable to recover the
amount of drawback so awarded them by this office, in consequence of
the failure of Congress to make the necessary appropriation. While the



125

COMMISSIONER OF INTERNAL REVENUE.

amounts due these claimants are not large, the promise made by the
law to this class of tax-payers should, nevertheless, be recleemed, and
I urgently call attention to this matter, in order tha^t the payment of
these claims may be provided for,
CAPITAL AND DEPOSITS OF BANKS.

- Following is a statement of the average capital and deposits of banks '
and bankers for the twelve months ended May 31, 1881, by classes:
A v e r a g e c a p i t a l a n d d e p o s i t s of ! A v e r a g e c a p i t a l a n d d e p o s i t s of s a v i n g s
b a n k s a n d b a n k e r s . — F o r m 67.
b a n k s . — F o r m 106.
s t a t e s and Territories.
Average
capital.

Alabaina
Arizona
Arkansas .........
California . . . . . A .
Colorado
Connecticut
Dakota.
Delaware
.-..
Florida
Georgia
Idaho
Illiuois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts .. Michigau
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire .
New Jersey
..
.New Mexico .
New York
N o r t h C a r o l i n a ..
Ohio
Oregon
Pennsylvania
Rhodelsland
South Carolina...
Tennessee
:.
Texas
Utah
Vermont
Virginia
Washington
W e s t Virginia ...
Wisconsin
,
W^'oming
Total.....

168, 320
133, 526
179, 845
273,003
104,'774
884, 752
351,174
551,532
123, 446
526. 010
12, 024
283, 248
461,941
123,410
378, 846
487,010
394,738
69, 942
623, 807
691,050
249, 251
245.517
919, 392
660, 595
547, 784
396, 698
232, 890
50, 334
200,191
23, 588
979, 301
546, 938
552, 450
963, 421
927, 944
687, 720
566, 789
807, 255
543, 026
350, 282
450, 000
677, 489
356, 200
159, 032
395, 401
165, 030

Average
taxable
capital.
$1,167, 860
133, 526
174, 004
13,168, 724
1,104, 774
2,805,612
351,174
•
551,532
123, 446
3,526,010
12. 034
.12,192, 922
3, 742, 044
5, 742, 786
2.312,628
10, 906, 092
2, 079, 976
64, 066
2, 841, 478
5, 200, 718
2, 909, 94+
3,142,716
902,728
9, 593, 768
547, 784
1, 288, 942
232, 890
50, 334
722, 846
23, 588
63, 295, 530
546, 938
5, 847,108
714,312
12, 607, 832
2, 679, 380
541,788
1, 704, 450
4, 516, 368
341,948
272, 308
2, 515, 048
356, 200
1, 047,122
2,181, 070
165,030

Average
deposits.

Average Average
taxable
: capital.
capital.

Average
deposits.

Average
taxable
deposits.

.589, 714
830, 386
735, 376
201, 382 $2, 232, 466 $1, 279, 004 $4^ 132, 843 $8, 491, 792
970, 704
515,682
80, 981, g
1,803,246
818,966
987. 356
1, 554, 760
12,444
803, 926
959, 768
'i,'055,'7i6" '357,708
59, 420
40, 604
793, 892
68, 425
1.192,293
95, 556 .
393, 444
1, 793, 619
82, 636
214,118 j 30,833
258,565
19, 948
970, 588
173, 284
504, 488
41,864
39, 743
181,112
2.5,729,790
59,192
450, 882
30, 568
30, 568 •24, 958, 901
128,744
988, 432
2.52,030,519
81, 432
150, 000
170,1.56
ioO, 000
3, 051, 378
478, 352
464, 920
840, 554
136, 688
373, 984
.980, 358
406, 774
00.5,908
158,108
52, 850
88, 422
88, 422 35, 580, 031
491, 654
048, 940
52, 500
23,859,302
86, 370
.770, 226
42.5, 754
376, 637,163
741, 374
126.596
860, 838
177, 314
127, 750 i2,'66i,399
" 61,'362
568, 932
748, 594 '.517,470 '498,'056 42, 706, 793
912,138
118. 286
40, 915, 7.59 2, 846,198
756, 510 '"36,000 "36,'060
3,402
1,142
311,548
134, 590
043, 244
475, 092
8, 391.159
17,140
032, 546
412, 966
1, 005, 248
182, 672
931,060
Oil, 150
659, 218
720, 992

i

•

224,476,932 186,949,378 745,500,094 3,832,828 2,729,890 981,380,8.32 17,087,788

^




126

REPORT ON T H E x^FINANCES

Following is a statement of the average capital and deposits of banks
and bankers for the twelve months ended May 31^ 1^82, in aggregate:
Total average and taxable average of capital and deposits.Foims 67 aud 106.
states and Territories.
Average capital.
Alabama
Arizona
Arkansas
California
Colorado
Connecticut
Dakota
Delaware
Florida
.Geiu'gia.
Idaho
,
Illinois
.--Indiana
Iowa
Kansas
Kentucky . . . . . .
Lonisiana
Maine
Maryland
Massachusetts..
Michigan
Minni'sota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshii-e
New Jersey
New Mexico....
New Y o r k . . . . . .
North Carolina .
Ohio
,
Oregon
Pennsylvania..Rhode Island ...
South Carolina. .
Tennessee
..
Texas
Utah
Vermont
'....
Virginia
Washington .-:West Virginia..
Wisconsin
Wyoming
...
Total




168, 320
133, 526
179. 845
505. 469
104, 774
884, 752
351,174
551, 532
123, 446
526. 010
42, 034
351,673
461,941
154, 249
378, 846
487,010
436, 602
69, 942
654, 375
69],0..-i0399, 251
24,5,-517
9-19,392
060, .595
547, 784
396, 698
232, 890
138, 756
252, 691
23, 588
979, 301
546,938
729, 764
96.3, 421
445, 414
687, 720
596, 789
807. 255
o43, 026
350, 282
450, 000
090, 4.55
356, 200
159, 032
39.5, 401
165, 030
228, 309, 760

Average taxa- Average depos- Average taxable deposits..
ble capital. '
its.

r

$1,167,860 ' . $3, 5f 9. 7141
13,3,526 i
830, 386
174, 004 :
73.^ 376
SO, 334, 225
14, 447, 728
1, 104,774 •
4,H)7(), 704
2,80.5,612
87, 497, 577
351, 174 '
818,966
.551,532 .
2, ,542, 116
803, 926 ^
123.446
6,015,484
3, ,526, 010
59,420
12,034 ;
49, '.'Se, 1S5
12, 233, 526 j
18,187,063
3,742.044 I
.5,773,442 I
13, 472, 683
2, 312, 628
7, 970, 588
10, 90(>, 0112
17, 173; 284
2,121,840
5; .544. 231
64, 066
26,910,902
' 3.5, 409, 783
2, 872, 046
.5,200,718
270. 018,'951
• . . 221,,534
21
3, ( 59, 944
11. 30.5. 474
3, 142,716
902. 728
2, 373, 984
{)2, 980, 358
9, 593, 708
1,406,774
.547, 784
4, 00.\ 908
1, 288, 942
232, 890
1,158. 108
138, 756
35, 632, 881
722,846
27, 908, 242
23, .588 . V
770,226
617, 662, 917
63, 295, 530
1,126, .596
546, 938
51, 522, 237
.5,974,858
714,312
• 2, 568, 932
131,45.5,387
13,10.5, 888
, 46, 034, 045
2, 679, 380
1,759,912
571, 788
3,311,548
1,704,450
4, .516,368
10,134, 590
341, 948 •
, 2,043,244
272, 308
10, 866, 251
11,037,794
2, 928, 014
931, 060
356, 200
, 5,011,150
1, 047,122
20 6.59,218
2,181, 070
720, 992
165, 030

$3, 589, 714
850, 386
735, 376
51,693,174
4, 970, 704
8,318,928
• 818,966
999,800
803,926
5,317,476
59, 420
48,889,448
16,476,080
23,23-4,066
7, 970, 588
17,173, 284
.5, 504, 488
1,240,304
10,579,626
18,069.864
IS, 648. ,508
10,601.608
2, 373, 984
52, 91-0, H58
1,4(6,774
• 4, 005, 908
1, 1.58, i08
544, 504
4,135, 310
.770, 226
241,167,128
^ 1,126, 596
38, 922, 200
2,568,9.32
89, 660, 732
7,964.484
1, 757, 652
3,311,548
.10.134,590
2, 04,3, 244
2, 492, 232
10, 215, 218
931,060
5,011,150
20,659,218
720, 992
762,. 587, 882

1,726,880,926

:

.
.
—

_ . - . .

_

.

.

•

.

COMMISSIONER

OF

INTERNAL

127

REVENUE.

ASSESSMENTS ON BANK CAPITAL AND D E P O S I T S .

Following is a statement of the amount of taxes assessed on the capital and deposits of banks and bankers during the.twelve months ehded
M a y ^ l , 1882:
•
Banks and baukers.

Savings banks.

states and Territories.

•Total.
On capital.

Alabaraa
Arizona
Arkansas
Califoruia
Colorado
,
Counecticut
Dakota
Delaware
Florida
Georgia
Idaho
Illiuois
Indiana
I 'wa
Kansas
.,
Kentucky
Lo,uisiana
Maine
Maryland
Massachusetts .
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
" New York
North Carolina..
Ohio :
Oregon
•
Pennsylvania ..
Rhode Island
South Carolina .
Tennessee
Texas
Utah
Vermont,
Virginia
Washington . . . .
West Virginia...
Wiscousiu :. . . .
Wyoming

839 30
$17, 948 37
667 63
4, 151 93
870 02
3, 676 88
843 62
216, 006 91
523 87
24, 853 52
028 06
32. 578 41
755 87
4, 094 83
757 66
4, 936 78
617 23
4, 019 63
24, 798 84
630 05
297 10
(iO 18
213, 969 46
964 61
81, 9(i7 22
710 22
116, 070 59
713 93
39, 852 94
563 14
866 42
.530 46
.522 44
399 i<S
905 56
320 33
2.54 41
207 39
942 16
003 .59
,549 72
90, 850 78
324 60
713 .58
52, 869 92
513 64
11, 901 79
968 84
264, 033 87
738 92
7, 029 .54
444 71
20, 790 54
164 45
251 67
5, 264 25
614 23
20, 244 70
851 13
117 94
3, 128 77
316, 477 65
632 98
2, 734 69 1, 202,
29, 235 54
5, 304 19
844
571
^039 16 194, 742 66
, 56
97
63,
12, 591 43
13, 396 90
443, 782 55
708 94
2,
25, 5.57 74
8, 522 25
8, 672 95
22, 581 84
16, 216 22
1, 709 74
50, 375 46
1, 361 54
10, 162 73
12, 575 24
12, 655 30
1, 781 00
50, 055 75
5, 235 61
4, 296 09
10, 905 35
25, 604 96
825 15
103,
934, 746 90 3,727.500 27

Total.....

AVERAGE

CAPITAL

On deposits.

AND

DEPOSITS

FOR

O n capital.

$6, 395 02.

O n deposits.

$42, 458 96
.9,016 23
"

62 22

1,788 54
203 02
'153'28

477 78
413 18
99 74

209 32
"is-i 84
750 06

442 12

295 96
643 72
407 16
2, 391 76
683 44

2, 458 27
431 85
3, 706 87

. 638 75

'"366"8i

'2, 490'28

4,560 69
14, 230 99
5 71

"iso'CO

2, 064 82

85 75
913 36

13, 649 45

LAST

F I V E ,FISCAL

$23. 787 67
, 4, ,56
819
' 4, 90
546
330, 704 51
.30, 377 39
55, 622 70
850
• 5, 70
7, 756 66
4, 636 86
217
• 44, 43
357 28
305, 614 87
101, 090 82 •
145, 037 54
51, 416 08
140, 396 88
38, 131 64
6, .521 85
67, 258 36
116, 352 91
108, 542 26
68, 721 62
16, 383 56
312, 870 63
9, 772 79
26, 474 25
954 99
6, 416 31
••' 3 ,

24, 290 78
3, 969 07
1, 522,313 29
367
• 8, 67
224, 485^29
416 22
16,
513, 833 10
53, 219 32
11, 647 20
079 99
25, 254 79
73, 925 96
11, 822 75
13, 716.15
65, 436 30
6, 291 36
30, 201 44
114, 430 11
4,
4,761,335 61

YEARS.

STATEMENT of the GBOSS AMOUNTS of AVEBAGE CAPITAL'and D E P O S I T S
of SAVINGS BANKS, BANKS, and BANKEBS, other than NATIONAL BANKS,
for the years ended May ^M,l&7&, 1B79, 16S0, 18,^1, and Ir-S^.
.,
1878.
$.5, 609, 330
206, 897, 732
843,416,920
483, 426, 532

C a p i t a l of s a v i n g s b a n k s . . . .
C a p i t a l of b a n k s a n d b a n k e r s . .
Deposits ot savings b a n k s .
D e p o s i t s of b a n k s a n d b a n k e r s .
Total

•

1879. - -

$3, 597, 392
193,781,219
• 829, 912.1.78
407, 661, 079 .

• 1880;
$4, 004, 821
192,173, ,555
796, 704, 336
469,124, 384

1881.
$4,187, 396
207,454,924
890, 066, 544
597, 381, 514

1882.
$3, 832,
224, 476,
• 981, 380,
745, 500,

828
932
832
094

1, .539, 350. 514 1,434,951,868 1,462,007,096 11,699,090,378 1,955, .190, 686




128

REPORT ON THE FINANCES.
BANK CAPITAL INVESTED IN BONDS.

The following is a statement of average capital and deposits of savings banks and the "capital of banks and bankers other than national
banks invested in United States bonds, compiled from the returns of said
banks and bankers, for the years ended May, 1878,1879,1880,1881, and
1882:
1878.

1879.

1880.

1881.

1882.'

Total

$roi, 872
36, 42.5, 306
121, 855, 622

$429, 791
40,013,376
154, 847, 346

$507, 876
40, 371, 865
182, 580, 893

$812,76835, 099, 939
194, 886, 529

$1,102,938
37, 527, 554
333, 673, 588

158,882,800

C a p i t a l of s a v i n g s b a n k s
C a p i t a l of b a n k s a n d baiikei s . .
D e p o s i t s of s a v i n g s b a n k s

195, 290, 513'

223, 460, 634

230. 799. 236

272, 304, 080

MISCELLANEOUS ASSESSMENTS.

The following table shows the assessments made by the Commissioner
of Internal Revenue during the fiscal years ended June 30, 1881, and
June 30,1882, respectively, and the increase or decrease,on each article
or occupation:
A m o u n t assessed during
fiscal y e a r ended—

Fiscal year ended J u n e
30, 1881.

A r t i c l e or o c c u p a t i o u .
J u n e 30,1881. J u n e 30,1882.
T a x on deficiencies in p r o d u c t i o n of distilled
spirits
$48, 494 36
T a x on e x c e s s of m a t e r i a l s used in t h e p r o d u c - j
3,547 10
tion of distilled .spirits
..
T a x on d e p o s i t s a n d c a p i t a l of b a n k s a n d b a n k e r s a n d of s a v i n g s i n s t i t u t i o n s o t h e r t h a n national b a n k s . . . —
3, 955,183 20
10, 788 02
T a x on c i r c u l a t i o n of b a n k s a n d o t h e r s
T a x on d i s t i l l e d s p i r i t s f r a u d u l e n t l y r e m o v e d
40,396 42
or seized
T a x o n f e r m e n t e d l i q u o r s r e m o v e d from b r e w 854 96
ery unstamped
T a x on^tobacco, snuff, a n d c i g a r s r e m o v e d from
46,385 27
factory u n s t a m p e d
T a x on p r o p r i e t a r y a r t i c l e s r e m o v e d u n s t a m p e d .
5,132 29
Assessed penalties
'
143, 862 78
L e g a c i e s and s u c c e s s i o n s
63, 859 39
Unassessed and unassessable penalties, interest, t a x e s p r e v i o u s l y a b a t e d , c o n s c i e n c e
m o n e y , a n d deficiencies iu b o n d e d a c c o u n t s
w h i c l i h a v e b e e n collected, i n t e r e s t t a x on
distilled s p i r i t s ; also, fines, p e n a l t i e s , and forf e i t u r e s , a n d c o s t s p a i d to collectors b y o r d e r
of c o u r t or b y o r d e r of S e c r e t a r y , aiid u n a s s e s s a b l e t a x e s r e c o v e r e d ; also, a m o u n t of
' p e n a l t i es and' i n t e r e s t r e c e i v e d for v a l i d a t i n g
u n s t a m p e d i n s t r u m e n t s ( F o r m 58)
275, 524 93
60, 411 59
S p e c i a l t a x e s (licenses)
14, 903 33
T a x on i n c o m e a n d d i v i d e n d s

Total .'..

4, 669, 343 64

Increase
o v e r 1881.

$108, 951 24

;60, 456 88

7, 730 78

4,183 68

5,222,012 40
1, 921 81

Decrease
from 1881.

1, 266, 829 20
$8, 866 21
23, 018 28

664 65
43,095
5, 479
193,145
<29, 085

60
19
24
92

190 31
3, 289 67
346 90
49, 282 46
34, 773 47

285, 250 80
61, 415 03
• 1, 201 44

9,725 87
1, 003 44

6, 023, 368 80

1, 354, 025 16

The foregoing table shows that a decrease has occurred in the assessments of the following taxes as compared with the year ended June 30,
1881, viz:
On circulation of banks and others.
On fermented liquors removed from brewery unstamped, and on tobacco, snufif, and cigar^removed from manufactory in like manner.



COMMISSIONER OF INTERNAL REVENUE.

129

On legacies and successions, and on incomes and dividends.
The reduction in the ainount assessed on circulation, which has.been
principally the ten per (^eiitum tax, on notes issued by manufacturing
establishments and used for circulation, shows how nearly this kind ofcurrency has been supplanted b.y the legal money ofthe country. The small
amount of only $1,921.81 was assessed last year against $10,788.02 in the
previous fiscal year. It may be also stated that nearly all such notes on
which the tax was assessed have already been withdrawn from circulation.
The reduction of taxes assessed on fermented liquors and tobacco,
snuff, and cigars, removed from the place of manufacture unstamped, indicates a better observance of the law and regulations governing the
taxation of these articles.
The reduction ofthe tax assessed on legacies and siicicessions and on
income and dividends is owing to the increased lapse of time sinc^ the
repeal of the laws subjecting these objects to internal revenue taxation
and to the fact that those taxes have been almost entirely collected.
The most remarkable increase exhibited in the above table is that of
taxes assessed on the capital and deposits of banks, bankers, and savings
institutions. The amount thus assessed was $5,222,012.40 against
$3,955,183.20 of the year previous, showing an increase of $1,266,829.20.
As stated in my last annualreport, it had become known that several
banks in the larger cities tiad, by misinterpretation of the law, understated
in former reports the aniount of their capital and deposits subject to
tax. Investigations of these cases led to the discovery that such taxes,
amounting to $722,705, were due the United States.
Following up this discovery a circular letter Wds addressed in October,
1881, to each collector, requiring him to request from all banks in his
district a re-examination of their former returns and to report as to their
liability to additional taxation.
This request having been generally complied with, and voluntary additional returns made by the banks, assessments amminting to $460,676.79
were made last year on this account. This amount, added to that previously ascertained, gives a sum of $1,183,381.79 so far assessed as tax
due from previous years. In addition thereto, an ainount of $25,546.22
was recovered in compromise which was not assessed. The total tax so
far recovered by the government is therefore $1,205,928.01.
Several cases have not yet been fully investigated and determinedupon; it is therefore likely that some further and perhaps very heavy
assessments will result therefrom.
Deducting, however, the above $460,676,79 assessed as back taxes
from the total aniount assessed on capital and deposits last fiscal year,
it still leaves the large amount of $4,761,335.61 assessed against the
banking business of last fiscal year, showing an increase over the previous one of $806,152.41. Explanation of this fact is found in-the enormous growth of the wealth of the country,- the total average capital and
deposits emplo3^ed and held by banks and bankers other than national
banks last 3^ear being $1,955,190,686, an increase of $256,100,308 over
the previous year.
In explanation of the increase of tax assessed on deficiencies in the
production of distilled spirits and on excess of materials used in such
production, it may be stated that most of these assessments cover the
unusually large production of distilled spirits in the year ended June 30,
1881. This also may be said in regard to the increased amount assessed
on distilled spirits fraudulently removed or seized. A great number of
distillers, who formerly carried on an illicit business, have recently
9F
'



130

REPORT ON T H E

FINANCES.

submitted to the law, have been regularly registered, and their shortcomings are now ascertained and assessed.
.Of the amount reported as assessments of penalties, the larger proportion consisted of 100 per centum penalties assessed against banks
under a decision of the "tlnited States circuit court for the southern
district of JSTew York (German Savings Bank t\ Joseph Archbold, collector), for erroneous returns made. This decision having been reversed
by the United States Supreme Court, the larger part' of these assessinents have been or will be abated.
,
ASSESSMENTS-FOR 1882.

Thefollowing statement shows the ainount of assessments in each of
the several States and Teritories of the United States during the fiscal
year ended June 30, 1882, and includes the taxes assessed upon capital
and deposits of banks and bankers:
AlMbaaut
Arizona
Arkansas
California
Colorado
Connecticut
Dakota
Delaware
Florida
Georgia
Idaho
Illinois
ludiana
Iowa,
Kausas
Kentucky
Louisiaua
Maiuo
Maryland
Massachusetts
Michigan
Minnesota
Mississipj)i
Missouri

--'

.^...

.'

|32,816 50.
6, 946 79
7,055 02
376,760 50
37,736 31
60,112 62
7,370 03
8,.^)89 04
6,366 30
61,073 40
• 639 81
348,377 39
163, 419 97
158,107 40
54, ,^)35 12
207, 630 85
64, 084 74
11,242 47
77,948 97
206,773 21
121,081 51
70,944 47
17,515 20
358,838 95

Montana
Nebraska
Nevada..
New Hampshire
New Jersey
New Mexico.'
NewYork.'.
North Carolina
Ohio
Oregoii....
Pennsylvania
Rhode Islaud
South Carolina
Tennessee
Texas
Utah
Vermont
Virgiuia
V^^'ashington
West Virgiuia
Wisconsiu
Wyoming
Total

v

$11,300 77
32,634 18
8, 333 84
20, 852 51
33, 647 66
4,948 60
2,018,989 78
63, 082 02
.....
261,395 53
17,117 76
:.
585,936 43
54,0.22 96
16,423 58
56,419 81
85,95162
13,795 48
16,175 01
84,441 54
7,654 47
:
34, 838 46
124, 618 80
4,821 42
6,023,368 80

Yery respectfully,
GEEEK B. EAUM,
Commissioner.
Hon.

CHAS. J. F O L G E R ,

Secretary of tJie Treasury,




REPORT OF THE COMPTROLLER OF THE CURRENCY.




.131




. .

REPORT
or

THE COMPTROLLER OF THE CURRENCY.
TREASURY DEPARTMENT,
O F F I C E OF THE COMPTROLLER OF T H E CURRENCY,

Washington, Becember 2, 1882.
I have the honor to submit for the consideration of Congress the
twentieth annual report of the Comptroller of the Currency, in compliance with section 333 of the Eevised Statutes of the United States.
The nuuiber of uational banks organized during the year ending
I:Tovemj3er 1, 1882, has been 171, with an aggregate authorized capital
of $15,767,300. Circulating notes have been issued to these associations amounting to $6,500,680. This is the largest number of banks
organized in any year since 1872, and they are located in the following
States and Territories:
'
*
/
s t a t e s a n d T e r r i - Is^o. of
banks.
tories.

X

New Hampsliire..
Massachusetts
.
N&vf T o r k
Pennsylvania.....
Marvland
Virginia
West Virginia....
Mississippi
Eouisiana
Texas
Arkansas
Missouri......
Ohio
Indiana

3

2
2
2
14
.10
2
3
1
1
1
8
1
6
3
5
10
4

Capital,

Circulation
issued.

$150, 000 •
200, 000
400, 000
200, 000
1, 302, 000
865, 000
350, 000
305,300
100, 000
75, 000
100,000
525, 000
50, 000
1,010,000
305, 000 •
305, 000
1, 050, 000
320, 000

States and Territories.
Illinois
Michigan
W i s c o n s i n . . .•

$117,000
180, 000
108, 000
162,000
774, 000
357, 300
45, 000
139, 500
45, 000
67, 500
.90, 000
160, 640
11, 240.
219, 600
103, 500
166, 500
639, 000
148, 500

N o . of
banks.

,

Miuneso.ta
Kansas
Nebraska
Colorado
Oregon
Utah
Montana
Wyoming
N e w Mexico
Dakotai
Washington
Arizona
1
California
UnitedStates-...

Capital.

13 $1, 200, 000
6
850, 000
5
325, 000 •
13
1,125, 000
•6
550, 000
10
• 600, 000
15
1, 050, 000
4
270, 000
50. 000
1
150, 000
2.
325, 000
4
200, 000
1
100, 000
2
- 310, 000
6
250, 000
3
100, 000
1
100, 000
1
171

15, 767, 300

Circulation
issued.
$375, 750
• 306, 000
153, 000
• 505,790
76, 500
• 217 790
593, 970
144, O O
O
45, 000
99, 000
104, 000'
' 45, 000
54, 000
135, 000
81, 000
30, 600
6, 500, 680

These banks are located by geographical divisions as follows: Eastern
States, nine banks with a capital of $950,0005 Middle States, twenty-six,
with a capital of $2,517,000 ; Southern States, twenty-nine, with a capital of $2,775,300; Western States, eighty-six, with a capital of $7,940,000;
Pacitic States and Territories, twenty-one, with a capital of $1,585,000.
Mneteen banks, with^an aggregate capital of $1,855,000 apd circulation of $1,440,800, have voluntarily discontinued business during the
year. The number of banks organized and in voluntary liquidation as
given, is exclusive in each case of fhose banks which have gone into voluntary liquidation during the year and have been succeeded by other
banks, with th'e same or nearly the same, shareholders.
Three national banks, since November 1, have been placed in the
hands of receivers, making 87 in all since the establishment ofthe system. The total number of banks which have voluntarily dosed their



•

•

•

"

"

.

133.

134

REPORT ON THE FINANCES.

affairs by vote of shareholders owning two-thirds of their stock, under
sections 5220 and 5221 of the Eevised Statutes, has been 414 5 72 of this
number have gone into liquidation within the past year, of which 53
we]?e closed by their stockholders for the purposeof organizing new
banks, and all but three of this latter nuniber in anticipation of the near
approach of the expiration of their corporate existence.
The shareholders of six banks permitted their corporate existence to
expire, and these associations are in liquidation under section 7 of the
act of July 12,1882. National banks are organized in every State of the
Union and in every organized Territory. The total number in operation
on October 3 last was 2,269—the largest number that has ever been in
operation at any one time.
The following table exhibits the resources and liabilities of the natibnal
banks at the' close of business on the 3d day of October, 1882, the returns fromyxKew York City, from Boston, Philadelphia, and Baltimore,
from the other reserve cities, and from the remaining banks of the country, being tabulated separately :
New

T o r k Boston, P h i l a - ' O t h e r r e s e r v e !
delphia, andj
cities.*
Baltimore.

City.

50 b a n k s .

102 bankSi

91 b a n k s .

Countrj'^
banks.

Aggregate.

2,026 b a n k s .

2,269 b a n k s .

RESOURCES.
Loans and discounts
Overdrafts
B o n d s for c i r c n l a t i o n
B b n d s for d e p o s i t s
U . S. b o n d s on h a n d
Other stocks and bonds
D u e from r e s e r v e a g e n t s
D u e from o t h e r n a t i o n a l b a n k s
D u e from o t h e r b a n k s a n d
bankers
-B e a l e s t a t e , f u r n i t u r e , a n d fixtures
Current expenses
Premiums
Checks and other cash i t e m s . .
E x c h a n g e s for c l e a r i n g - h o u s e . .
Bills of o t h e r n a t i o n a l b a n k s . .
Fractional currency
Specie
Legal-tend er notes
—
U . S. certificates of d e p o s i t —
E i v e p e r cent, r e d e m p t i o n fund
D u e frora U . S. T r e a s u r e r
Totals.

$239,041,892 $201, 937, 503
• 108, 482
69, 476
22,105,150
52, 548, 050
820, 000
661, 000
3, 545, 950
472, 400
12, 692, 046
8,117, 294
17, 766,418
19,258,566
13,136, 707

$146, 282, 464
372,403
26, 472, 700
3, 883, 000
. 3,803,750
4, 895, 668
15, 446, 614
9,198, 735

$651,
4,
256,
10,
13,
40,
80,
26,

024, 666 $1, 238, 286, 525
4, 916, 694
366, 333
357, 631, 750
505, 850
16, 111, 000
747, 000
21,314,750
492, 650
66,168, 917
463, 909
113.277,228
064.196
68, 516, 841
922, 833

3, 087, 918

1,126,884

3. 364, 283

9, 526,'383

17,105,468

10, 671, 839
1, 092, 203
665, 549
2, 809, 544
174, 929, 476
1, 634, 685
43,131
44, 523, 884
16, 956, 390
1, 970, 000
963,999
• 620,828

6, 501, 659
826, 941
•444, 529
1, 337, 998
. 24,148,573
2, 753, 321
31, 210
15, 343, 221
6, 727, 782
3,175, 000
2, 353, 504
78, 065

4, 060, 660
852, 926
762, 261
1,070, 034
8, 384, 5.>9
2, 466, 461
50, 428
12, 966, 384
11, 310, 699
2, 890, 000
1,163, 961
108, 325

25. 302, 908
4,466,190
4, 642, 816
9, 560, 449
903, 952
13, 834, 958
271, 599
30, 024, 289
28, 286, 396
640, 000
11, 336,r634
538, 303

46. 537, 066
7,238,260
6, 515,155
14,784,025
208, 366, 540
20, 689, 425
• 396,368
102, 857, 778
63, 281, 267
8, 675, 000
15,818,093
1, 345, 521

557, 541, 532

359, 557, 535

259, 812, 295 ,1, 222, 922, 314

2, 399, 833, 676

51, 650, GOO
21,314,109
13, 970, 754

79, 298. 330
22,501,193
6,712,526

46, 080, 995
11, 041, 071
5, 288, 721

306, 074, 888
76,521,077
35,208,309

483,104, 213
131, 977, 451
61,180,310

19, 270, 285
47, 446
228, 865
325, 268, 004
425,115

46, 467, 247
35,154
941, 097
151, 959, 431
397, 200

22, 365, 298
157,931
119,162,216
. 2. 563, 517

226, 618, 385
138,577
1, 825, 943
526,082,132
5, 431, 579

314, 721, 215
221,177
3,153, 836
1,122,472, 682
8, 817, 411

127, 3fi4
90,104, 275
35; 134, 415

20, 986
38,461,3.12
12, 084, 059
220. Odo
• 459,000

567,154
29, 048, 962
20, 619, 577
879, 906
. 1,436,947

557, 541, 532

359, 557, 535

LIABILITIES.
Capital stock:
S u i p l u s fund
.*. . . . . . . .
U n d i v i d e d profi.ts
'.
—
National b a n k notes outstandState bank notes outstanding.
Dividends unpaid
Individual deposiis
U.S. deposits...
D e p o s i t s of U . S. d i s b u r s i n g
Due to national b a n k a . . . . . .
D u e t o o t h e r bankiS a n d b a n k e r s
N o t e s a n d bills r e d i s c o u n t e d
Bills p a y a b l e
Totals.

2, 912, 343
22,461,201
12, 047, 601
4, 647. 709
2, 952, 570

3, 627, 847
180,075,750
79, 885, 652
5, 747, 615
4, 848, 517

259, 812, 295 ll, 222, 922, 314 2, 399, 833, 676

, * T h e r e s e r v e cities, i n a d d i t i o n to N e w T o r k , B o s t o n , P h i l a d e l p h i a , a n d B a l t i m o r e , a r e A l b a n y ,
P i t t s b u r g h , W a s h i n g t o n , N e w O r l e a n s , Louisville, C i n c i n n a t i , Cleveland, C h i c a g o , D e t r o i t , M i l w a u k e e ,
Saint Louis, and San Francisco.
.




135

COMPTROLLER OF THE CURRENCV.

The following table exhibits, in the ord-cr ot their capital, the twenty
States having the largest amount of capital, together with the aniount
of circulation, loans and discounts, and individual deposits ofeach, on
October 3, 1882:
,
^
states,

Capital.

$95, 852, 500
87, 580, 567
57, 452, 051
32,604,00025, 556, 820
20, 315, 050
18, 989, 600
13,922,030
13, 323,-500
12, 375, 350
11, 421, 350
10, 855, 000
10, 335, 000
7, 786, 000
7,135, 000
6, 080, 000
5, 920, 000
4, 980, 000
3, 715, 300
3, 263, 060

Massachussetts..
New Tork
Pennsylvania —
Ohio . •
Connecticut
.
Rhode Island —
Illinois .
Maryland
Indiana
New Jersey.......
Kentucky ...'....
Michigan
Maine
Vermont.
Iowa
New Hampshire
Minnesota;
Missouri
Tennessee
Virginia

Circulation.

Loans and
discounts.

Individual
deposits.

$68, 572, 889 $195,125,594
$114, 397 392
• 47, 596; 145
335, 378, 784
409, 934, 724
154, 445, 895
40, 618, 976
148, 490, 486
74, 442, 871
20, 839, 922
60, 734, 873
43, 468, 889
. 17, 217, 745
24, 933, 405
14,143, 039
30, 078, 658
11,460,515
8, 799, 530
73,117,769
69, 763, 033
8, 793, 523.
31. 575, 651
23, 995, 278
8,117, 470
. 27, 585, 401
24, 942, 872
9, 769, 701
31, 481, 551
28, 606, 052
19, 593,-643
9,198,.631
11. 506,117
29, 825,149
5, 793,152
26, 238, 875
18, 937, 910
8, 090, 233
10, 433, 752
12,186, 775
6,487,367
5, 955, 461
17, 799, 344
4,683,116
16,169, 065
8,137, 442
5,147, 345
4,569,085
17, 907, 894
1, 986, 694
14, 045, 218
12, 890, 836
1,883,2909, 608,139
8, 434, 524
2, 780, 590
7, 590,120
10, 444, 317
2, 647,100
10, 293, 487

COMPARATIVE STATEMENTS OF THE NATIONAL BANKS FOR
TEARS.

ELEVEN

The following table exhibits the resources' and liabilities of the national banks for eleven years, at nearly corresponding dates, from 1872
to 1882, inclusive:
Oct. 3, S e p t 12, Oct. 2, Oct. 1, Oct. 2, Oct. 1, Oct. 1, Oct. 2, Oct. 1, Oct. 1. Oct. 3,
1879.
1875.
1876.
1873.
1877.
1880.
1878.
1874.
1881.
1872.
1882.
1,919
1, 976 2,004 2,087 2,089 2, 080 2, 053 2,048 2, 090 2,132 2,269
banks. banks. banks. banks, banks. banks. banks. banks. banks. banks. banks.

RESOURCES.

Loang.
.
B o n d ; for c i r c u l a t ' n
O t h e r U . S. b o n d s . .
Stocks, b o n d s , &.c.D u e from b a n k s . . .
R e a l es'»ate
Specie.
Legal-teoder n o t e s i
Nat'1-bauk n o t e s . .
C. H . e x c b a n g e s -.
U . S . c e r t of d e p o s i t
D u e fromU.S. T r e a s
Other resources —
Totals

MUlions. MUlions. Millions. Millions. Millions. Millions. Millions. Millions. Millions. Millions. Millions.
877.2
944.2 954.4 984.7 931. 3 891. 9 834.0 878.5 1, 041. 0 1,173. 8 1 24.q. *?

382.0
27.6
23.5
128. 2
32.3
10.2
102.1
15.8
125 0
6.7
25.2

388.3 • 383. 3
28.0
23.6
27.8
23. 7
149.5 134.8
38.1
34.7
21.2
19. 9
80.0
92.4
18.5
16.1
100.3 109.7
42.8
20.6
20.3
18.3
17.3

370. 3
28.1
33.5
144.7
42.4
8.1
76.5
18.5
87.9
48.8
19.6
19.1

337.2
47.8
34.4
146.9
43.1
21.4
84.2
15.9
100.0
29.2
16.7
19.1

336.8
45.0
34.5
129.9
45.2
22.7
66.9
15.6
74.5
33.4
16.0
28.7

347.6
94.7
.36.9
138.9
40.7
30.7
64.4
16.9
82.4
32.7
16.5
24.9

357.3
71.2
39.7
167.3
47.8
42.2
69.2
16.7
11.3. 0
26.8
17.0
22.1

3.57. 8
43.6
48.9
213.5
48.0
109.3
56.6
18.2
121.1
7.7
17.1
23.0

363. 3!
56. 5
61. 9
230. 8
47. 3
114.3
53.2
17.7
189.2
6.7
17.5
26.2

357. 6
37. 4
66. 2
198. 9
46. 5
102 0
63.2
20.7
208.4
8.7
17.2
28.9

. . . 1, 755. 8 1, 830. 6 1, 877. 2 1,882.2 1, 827. 2 1, 741.1 1, 767. 3 1, 868. 8 2,105.8 2,358.4 2, 399. 8

LIABILITIES.

C a p i t a l stock
S u r p l u s fund
Undivided profits..
Circulation
D u e to depositors..
D u e to b a n k s
O t h e r liabilities
Totals

479 6
110 3
46.6
335.1
628.9
143 8
11.5

491.0
120 3
54.5
340.3
640.0
173.0
11.5

493.8
129.0
51.5
334.2
683.8
175.8
9.1

504.8 499.8
134.4 • 132. 2
53.0
46.4
319.1 292.2
679.4 666.2
179.7 179.8
11.8
10.6

479.5 .
122.8
44. 5
291.9
630. 4
161.6
10.4

466.2
116.9
44.9
301.9
668.4
165.1
7.9

454.1
114.8
41.3
313.8
736.9
201.2
6.7

457.6 463.8 483 1
120.5 128.1 . 132. 0
46.1 • 56.4
61.2
317.3 320. 2 .315.0
887.9 1,083.1 1,134. 9
267.9 294. 9 259. 9
8.5
11.9
13.7

1, 755. 8 1,830.6 1, 877.2 1, 882. 2 1, 827. 2 1, 741.1 1,767. 3 1,868.8 2,105. 8 2, 358. 4'2, 399. 8




136

R E P O R T ON T H E

FINANCES.

In the Appendix will be found a table, showing the principal resources
and liabilities on October 3,1882. of the banks in the States, Territories,
and reserve cities, arranged in eight divisions.
.
NUMBER, CAPITAL, AND DEPOSITS OF NATIONAL BANKS, STATE AND

Section 333 of the Kevised Statutes of tbe United States requires the
Comptroller to present annually to Congress a statement of the condition ot the banks and savings-banks organized under State laws. Eeturns of capital and deposits are made by tbese institutions and by
private bankers semi-annually, to this department for purposes of
taxation. From these returns the following talDle has been compiled,
exhibiting, in concise form, by geographical divisions, the total average
capital and deposits of all the Sta.te and savings-banks and private
bankers of the country, for the six nionths ending May 31, 1882:
State b a n k s and trust
j companies.

Savings
Savings banks with
b a n k s withcapital.
out capital.

Private bankers.

Geographical d i v i sions:
N o . C a p i t a l . Deposits.

40
205
246

New England States..
Middle states . . . . ..
Southern States
Western States and
Teiritoi'ies

521

MilVs.
8.32
40.56
25.37

MilVs.
24. 96
225. 51
48.47

42.54 ' 153. 06

. U n i t e d S t a t e s . . . 1012 116.79

452. 00

C a p i t a l . Depos- N o . C a p i t a l . D e p o s - No. Deposit.s;
its.
its.

No.

MilVs. MilVs.
7.13 • 9.42
02.19 • 113.08
6.37
19.98

104
1014
293

2
8
6

MilVs.
. .09
.61
.53

MUVs.
• .77 418
5.07 173
1. 23
2

MilVs.
421. 35
473. 26
1.15

1980

38. 56

153.14

22

2.63

34.17

29

34 07

3391

114. 25

295. 62

38

3.86

41.24 622

929. 83

. The capital of the 2,239 national banks in operation on July 1, 1882,
as will be seen by a table in the Appendix,^ was $477,184,390, iiot including surplus, which fund at that date amounted to more than 131 mill
ions of dollars; Avhile the average capital of all the State banks, private
bankers, and savings-banks, for the six months ending May 31, 1882, '
was but $234,929,976. The latter amount is less than t.wo-fifchs of tlie
combined capital and surplus of the national banks.
The table below exhibits the capital and net deposits of the national
banks on July 1, 1882, together with the aggregate average capital end
deposits of all classes of banks other than national, for the six months
endingMay 31, 1882:
•

S t a t e "^ b a n k s ,
savingsbanks, private bankers, &c.

Nationalbanks.

Total.

, G e o g r a p h i c a l divis-

•
No.

Capital.

Deposits.

No.

Capital.

\
N e w E n g l a n d S t a t e s . 564
M i d d l e S'tates
1400
Southern States . . .
547
W e s t e r n States and
' Territories
2552
U n i t e d S t a t e s . . 5063




Millions. Millicns.
1.5. 5 0
456.5
103.4
816. 9
32.3
70.8

557
686
200

N e t deposits.

Millions. Millions.
165.7
191.4
173. 3
572. 8
32.9
62.0

No.

Capital.

1121
2086
747

Millions. Millions.
647.9
181.2
1, 389. 7
276.7
132.>8
65.2

Deposits.

1 83.7

374.5

796

105.3

305. 5

3348

189.0

680.0

,; 234.9

1,718. ,7

2239

477.2

1,131.7

7302

7121

2, 850. 4

137

COMPTROLLER OF THE CURRENCY.

The total number of banks and bankers in the country at the date
named was 7,302, with a total banking capital of $712,114,366, and total
deposits of $2,850,678,178.
In the Appendix will be found similar tables for various periods from
1875 to 1882. On a subsequent page in this report, under the head of
'^ State banks, savings banks, and trust companies," will be,found tables
showing the resources and liabilities of these corporations for the present
year, and in the Appendix similar results for previous years.
A table arranged by States and principal cities, giving the number,
capital, and deposits, and the tax thereon, of ail banking institutions
other than national and of the private bankers of the coiintry/for the
six montbs ending May 31, 1882, and for previons years, will also be
found in. the Appendix.
'
The following table exhibits, for corresponding dates nearest to May
31 in each of the last seven years, the aggregate amounts of the capital
and deposits of each of the classes of banks given in the foregoing
table:
.
' .
'
National banks.

State banks, private
b a n k e r s , &c.

Savings banks
w i t h "cap i t a l .

Savings
b a n k s Avithout capital.

' Total

Tears.
No.

1876 . .
1877...
1878...
1879 . .
1880...
1881 . .
1882...

2091
2078
2056
2048.
2076
2115
2239

Capi- DeposNo.
tal.
its.

Capi- D e p o s No.
its.

3filV^:
500.4
481.0
470.4
455.3
455.9
460.2
477.2

MilVs.
214.0
218. 6
202.2
197. 0
190.1
206. 5
231. 0.

MUVs.
713.5
768.2
677.2
713.4
900.8
1,039.9
1,131.7

3803
3799
3709
3639
3798
4016
4403

MilVs.
480.0
470. 5
413. 3
397.0
501.5
627.5
747.6

26
26
23
29
29
36
38

Capi- DeposN o . Depos- N o .
tal.
its.
its.
MilVs, MilVs.
5.0
37.2 691
4.9
38.2 676
3.2
26.2 668
4.2
36.1 644
4:0
34.6 629
4.2
37.6 629
3.9
41.3 622

2IilV^.
844.6
843.2
803.3
747.1
783.0
862.3
929.8

6611.
6579
6450
6360
6.532
6796
7302

Capital.

Deposits.

MilVs.
719.4
704.5
675.8
656.5
650. 0
670.9
712.1

MilVs.
2, 075. 3
2,120.1
1,920.0
1. 893. 5
2,219.9
2, 667. 3
2, 850. 4

EXTENSION OF T H E CORPOEATE iEXISTENCE OF NATIONAL BANKS.

Section 11 of the national-bank, act of February 25, 1863, })rovides
that—
Every association formed pursuant to the provisions of this act may make 'aud use
a comnion seal, and shall have- succession by the name desiguated in the articles of
associatiou, and for the period liniited thereiu, not, however,.exceeding tweuty y e a r s '
from the passage of this acfc.

Ninety-eight national banks organized under this act were entitled,
under their organization papers, to continue for nineteen years only,
and the corporate existence of 307 other banks will expire on or before
the close of business on February 24, next.
The Comptroller recommended in his last report:—
That au act be passed during the present sessiou, autboriziug any natioual bank,
with the approval of the Comptroller, at any time within tvvo years prior to the date
o f t h e expiration of its corporate existence, t o . extend its period of succession for
twenty years, by amending its articles of associatiou. The bill may provide t h a t
such amendments must be authorized by the votes of shareholders owning notless
than two-thirds of. the capital of the associatiou, the amendment to be eertiiied to
the Comptroller of the Currencj^ by the president or cashier, verified by the seal of
t h e association", and nofc to be valid until the Comptroller's approval thereof shall
have been obtained, and he shall have given to the association a certificate a thorizing it to continue its busiuess uiider such extension. Resjponsibility l(4r the extension of the corporate existence of the banks will thus, in a measure, rest wiih the
Comptroller; aud he can require such an examination of their aifairs to be made prior to
granting the extension, as may seem to him proper, in order to ascertain if the capital
stock, is intact, and all the assets ofthe bauk in a satisfiicfcbry conditLon. * * . *




138

REPORT ON T H E FINANCES. *
"

'

If, for any reason, the legislation herein proposed shall not be favorably considered
by.Congress, the bauks can still, under the present laws, renew their existence if they
so desire; and in the abseuce of prohibitory legislation many of them undoubtedly
will, on the expiration of their present chart.ers, organize new associations, Avith nearly
tbe same stockholders as before, and will then apply for and obtain from the Comptroller certificates authorizing them to continue busiuess for twenty years from the
respective dates of their new organization certificates. Such a course of proeedu're
will be perfectly legal, and, indeed,.under the existing laws, the Comptroller has no
discretionary poA^er in the matter, but must necessarily sanction the organization, or
reorganization, ot* such associatious as shall.have conformed in all respects.to the
legal requirements.
The passage, however, of a geueral act directly authorizing an extension ofthe corporate existence of associations whose charters are about to expire would, in many
instances, reliove the banks from embarrassment. As the law now stands, if the
shareholders of an association are all agreed, the process of reorganization is simple;
but if any of the shareholders object to such reorganization, they are entitled to a complete liquidation ot the bank's atfairs, and to aj^.?ro rata distribution of all its assets,
including its surplus fuud. In many instances executors and administrators of estates
hold national-bank stock iurtrust; and while they might prefer to retain their iuterests in the association which issued the stock, tbey would perhaps have no authority
to subscribe for stock in the new orgauizations. While, therefore, fche legislation
asked for is not absoluu^ly essential, yet its passage at an early day would be a great
convtinience to many, of the national banks, and especially so to the class last referred to.

Some doubts having been expressed in reference to the right of the
shareholders of national banks whose corporate existence had expired
to organize new associations with the same names as those which had
just expired, the opinion of the Attorney-General was requested on this
point, and on the 23d of February, 1882, an opinion was given, in which
he said:
The present national banking laws do not forbid the stockholders of an expiring
corporation from organizing a new banking aissociation, uor from assuming the name
of the old corporation, with the ai^proval of the Comptroller of the Currency, and, in
the absence of any prohibition to t h a t effect, no legal obstacle to the formation of- a
new association by such stockholders, aud the adoption of the name of the old association, would, in my ox>inion, exist.

He also said:

-

I do not know of anything to prevent a national bankiug associatiou, upon the expiration of the period limited for its duration, from being converted into a Sfcate bank
under the laws of the State, provided ifc has liquidated its affairs agreeably to the laws
of Congress; nor after ifc has thus become a Sfcate bank, to prevent such bank from
being converted back into a national bauking association under section 5154 of the
Revised Statutes, aud adopting fche name of the expired corporation, vs^ith tlie approval of the Comptroller of tlie Curreucy. To enable a State bauk so to reconvert
itself into, a nationalbanking association, authority from the State is not necessary.*"

In conf(irniity with tliis opinion, iiftj^ banks have been organized to
succeed other, institutions whose corporate existence has expired and
which had previously given notice of liquidation. These banks have
in most cases been organized with the same title as that of the banks
which had been placed in liquidation and by the same stockholders.
Soon after the assembling of the present Congress a bill was introduced forthe extension of the corporate existence of national banks,
embodying the recommendations of the Comptroller. I t was subsequently reported to the House from the committee with important amendments, and, after continued discussion, passed on May 30,1882, by a vote
ot 125 to 67.t The bill was amended in the Senate in many particulars,
and passed that body on June 22, 1882, by a vote of 34 to 14^ aud was
siibsequeatly passed in the House July 10, upon the report of the con-




*Casey v. Galli, 94 U. S., 673.
tCougressional Record No. 120, p. 25.
tlhid.,NiO. 147, p. 32.

COMPTROLLER OF THE CURRENCY.
<

/

139
•

ference committee, yeas 110, nays 79, not voting 101,* and received the
approval of the President on July 12, 1882.
The act provides for the extension of the corporate existence of all •
hational banks for twenty years by amending their articles of association, which amendment shall be authorized by the consent in writing of shareholders owning not less than two-thirds of the capital
stock of 4;he association. It provides that the Comptroller, upon receipt
ofthe application of the bank aiid the amendment certiiS^ed by the association, shall cause a special examination to be madfe to determine its
condition, and authorizes him to grant his certificate for the proposed
extension, if the condition of the association is found to be satisfactory.
It provides that any shareholder not assenting to the amendment of the
articles of association may give notice in writing to the directors, within
thirty days of the date of the certiticate of approval of the Comptroller,
that he desires to withdraw from said association, in which case he is
entitled in accordance with the method provided in. the act to receive
from said association the yalue of the shares; that in the organization
of any association intended to replace any existing banking association
and retaining the name thereof, holders of stock in the expiring association shail be entitled to preference inthe allotment of the shares of
the liew bank in proportion to the number of shares held by them respectively in the expiring association ; that the circulating notes of the
association extending its period of succession, which were issued to it
IDrevious to such extension, shall be retired by redemption at the Treasnry; that at the end of three years from the date of such extension
lawful money shall be deposited by the banlc with the Treasurer for the
redemption of the circulation then outstanding; that any gain that
may arise from the'failure to present such circulating notes for redemption shall enure to the benetit of the United States; that new notes shall
be issued to the banks thus extending, bearing such devices as shall
make them readily distinguishable from those previously issued and that
national banks whose corporate existence has expired or shall hereafter
expire, which do not avail themselves of the privilege of extension, shall
give notice of liquidation and deposit lawful raoney for the retirement
of their circulating, notes as required by law. .It also provides for the
extension of the franchise of expiring associations for the sole purpose
of liquidation until their aftairs are tinally closed. Thr other provisions of the act in reference to national bank's are general in their character and do not exclusively apply to banks whose corporate existence
is extended by its provisions.
Immediately upon the passage of this act appropriate blanks were
prepared for the use of those banks whose corporate existence was
about to expire, and new circulating notes w^ere subsequently issued to
such institutions as conformed to the law. The note ofthe denomination of tive dollars has for its vignette the portrait of the late President
Garfield. The faces of the notes of other denominations are similar to
those previously issued, bnt all the new^ notes have, as a distinctive
feature, the charter number engraved six difierent times in the border^
so that the name of the bank issuing the note may be ascertained from
fragments thereof. The charter number of each bank is also, printed
conspicuously in the center of the reverse Or back of each note. The
brown and green colors of the back of the new notes are said to be a
protection against the arts of the photographer and counterfeiter, and




* Ihid., July 11, iay2.

140

REPORT ON T H E

FINANCES.

are printed upon the neAv distinctive paper AA-hich has given general
satisfaction.
Under the act of July 12, 1882, 30 banks have already extended their
corporate existence, and nearly all of the banks which were organized
under the act of February 25, 1863, have already given notice of their
intention^ to take advantage of the act. The total number of banks
whose corporate existence either has expired, or w^oiild have expired if
no action had been taken by their stockholders, is 86, having a capital
of $18,877,50.0, and surplus of $6,994,854, and circulation of $12,840,010.
Of these 50 were placed in liquidation by their stockholders previous
to the date of the exiDiration of their corporate existence, and all but
two befare the passage of the act of July 12, 1882. The stockholders
of 45 of these liquidating banks organized new associations with the
same name; those of four organized new associations with difierent
nameis, and those of one did not perfect any new organization. The
corporate existence of six of the S6 banks first mentioned expired*
without having been previously put into liquidation. The united stockholders of three of these banks perfected new organizations vwith the
same name, and in the case of two others a portion of the stockholders
organized new associations with difierent names, while those of one took
no action. The stockholders of the remaining 30 of the 86 banks mentioned, which are all of the. banks whose corporate existence has expired since the passage of the act of July 12,1882, have extended under
this act.
The number of national banks yet in operation at the date of this report, organized under the act of February 25,1863, is 307, and their corporate existence will expire on the following dates :
Date.
D e c e m b e r , 1882
J a n u a r y , 1883 .
F e b r u a r y , 1883.

N o . of
banks.
10
3
294

Capital.

$1, 420, 000
400, 000
69, 793, 250

Circulation.

$1,278,000
360, 000
53, 222,170

Section 8 of theact of June 3, 1864, provides that each associationShall have power to adopt a corporate seal, and shall have succession by the name
designated in its organization certificate, ior the period of twenty years from its organization, unless sooner dissolved accordiug to the provisions of its articles of association, or by the act of its shareholders owning two-thirds of its stock, or unless the
franchise s h a l l b e forfeited by a violation of this act.

Under the previous act, banking associations were entitled to succession for twenty.years from the date of the passage of the law • but under
the act of 1864, each association was entitled to an existence of twenty
years from the~ date of its organization certificate. The Merchants' National Bank of Boston was^ the first association to organize under the
act of June 3, 1864, and its organization was followed by the conversion
of 28 other banks in the city of Boston and 22 in the city of Philadelphia during the same year, and by the conversion of 38 banks in the
city of ISTew York during the year 1865.
The provisions of the act of July 12, 1882, relating to the extension of
the corporate existence of national banking associations, have proxed to
be well adapted to the purpose for which they were intended. They are
simple in form and appear to be readily understood by the banks.
* These banks were, however, revived for purpose of liquidation by Jiectiou 7 o f t h e
act of Jaily 12, 1882.




141

COMPTROLLER OF THE CURRENCY..

The whole number of banks now in operation which organized under
the act of June 3, 1864, whose periods of succession will expire during
each year previous to 1900 is 1608, with capital and circulation as follows:
m . of
banks.

Tears.
•

0

*

1884
1885
1886 ...
1887
1888
1889

.
..

.
.

.
1..

.
.
i

i

1890
1891
1892
1893
1894
1895
1896
1897
1898
1899

:
:
•

..
:. -

Totals

Capital

Circulation.

.

249 $89, 611, 570 $60,526,825
734 188, 286, 715 125, 635, 450
1, 758, 250
19
2, 715, 300
976, 500
6
1,100, 000
719,100
11
1, 300, 000
540, 000
3
600, 000
63
9, 290, 500 ^ 6, 419, 950
9,180, 280
105
13,293,900
• 8,441,270
105
13, 035, 600
3, 849, 400
39
4, 740, 000
5, 864,150
68
7, 688, 000
'7,740,180
83
10,567,000
1, 552, 500
24
2, 018, 800
2,151, 000
29
3, 019, 000
2, 208, 600
27
2,649,600
3, 910, 900
43 , 4, 930, 000
1, 608

.

354, 845, 985

241 474, 355

One advantage in extending the corporate existence of associations
under this law, over the only method possible previous to its passage,
is in the retention of the surplus fund.
Thus, in the case of the fifty-four banks which have been liquidated,
either under sections 5220 and 5221, or.under section 7 of the act of
July 12, 1882, by their stockholders, in order to organize new associa-'.
tions, the surplus was reduced from $5,540,067 to $2,559,252.
The aggregate surplus of the thirty banks extending their existence
under the act of July 12, 1882, has slightly increased.
COIN AND P A P E R CIRCULATION OF T H E UNITED

STATES.

On another page^ tables similar to those which have been given in the
three preceding anhual reports are published, exhibiting the amounts of
gold and silver coin and paper currency which were in the Treasury, in
the banks, and in the hands of the people at t h e time of the resumption of specie payments, and on the 1st of November of each year since
that date.
The total amount of the circulating medium of the country on JS'Ovember 1 is given as follows:
Treasury notes outstanding
$346, 681, 016
National bank notes outstanding /
- 362, 727, 747
Gold in the Treasury, less certificates held by the b a n k s . .
148, 435, 473
Standard silver dollars in the Treasury
,
92, 414, 977
Subsidary silver coin and silver bullion in the Treasury..
30, 761,985
Coin in the national banks.
...........
102,362,063
. Ooin in State and savings banks
17, 892,500
Estimated amount of coin held by the people
387, 562, 793
Total

.'

:

' . . - . ...,-..

1,488,838,554-

: The estimated total currency of the country on November 1 thus appears to havebeen more than fourteen hundred and eighty-eight millions,



142

REPORT ON THE FINANCES.

which is four hundred and thirt^^-three millions in excess of the amount
held on January 1, 1879, and one hundred and eighty-six millions in
excess of the amount held two years ago—on November 1, 1880. The
gain in gold coin since the resumption of specie payments has been two
hundred and eighty-eight millions, and in gold and silver coin three
hundred and ninety-four millions. The increase in national bank notes
has been nearl}^ thirty-nine millions.
.
o
No change has been made in the amount of legal-tender notes outstanding. I t remains at $346,681,016, which was the amount outstanding at the date of the passage of the act of May 31, 1878, which prohibited any further reduction of the volume of these notes.
The act of January 14, 1875, required the Secretary of the Treasury
on and after January 1, 1879, to redeem in coin these notes, on their
presentation at the office of the Assistant Treasurer in the city of New
York, in sums of not less than fifty dollars. In order that he miglit always
be prepared to do this, he was ''authorized to use any surplus revenue
from time to time, in the Treasury not otherwise appropriated, and toissue, sell, and dispose of, at not less than par, in coin,''any of the five,
four and a half, and four per cent, bonds authorized by the act of July
14, 1870. This act is still in force, and gives the Secretary unlimited
power with which to provide for the redemption in coin of the legal-tender notes. He is thus enabled, so long as the credit of the government
continues good, to check, by the sale of United States bonds, any exportation of coin which might endanger the redemption of IJnited States
legal-tender notes.
These notes were issued at a time when the expenditiiries of the
government were in excess of its revenue. Its receipts now so largely
exceed its expenditures that more than 148 millions of the public debt
was paid during the past year. The only reason that can be advanced
iov the increase of these issues, would be that t h e j may be substituted
for other forms of public debt, and the only method by which they can
now be disbursed is in payment of United States bonds, at a time when
the bonds are being paid from the surplus revenue at a rate unprecedented in the history of nations. It is evident that whatever difierence
of opinion may have heretofore existed upon the subject, so long as the
revenue shall continue to supply more money than is needed for expenditures, there can be no sufficient reason for the authorization by Congress of an increase of these notes.
. The act of July 12, 1882, has again inaugurated the policy of issuing
gold certificates. These substitutes for coin are hereafter to be issued
against deposits of coin in the Treasury, and, together with certificates
for silver deposited in like manner, are authorized to be included in the
reserves of the banks, and to be used as clearing-house certificates in
the citios where clearing-houses are established. They will not increase
the amount of the currency in the country, but, by saving the cost of
transporting specie from pne point to another, will render the stock of
specie more available for use by the banks and the people.
TheComptroller, in his report for 1881, in elaborate tables giving the
receipts of banks upon two difierent days, showed that the propol'tion
of money required for the transaction of business throughout the whole
country was about five per cent, of the total receipts, the remaining
ninety-five per cent, being in checks and drafts. There has been during the current year an increase of 171 in the riumber of national banks
in operation, and during the three preceding years the increase was 314.
During the curi:ent year 36 additional State banks and 353 private bankers have commenced business. The rapid increase in these places of



COMPTROLLER OF TH^E CURRENCY.

143

deposit brings into use a larger number ofthe small.checks of depositors, and largely diminishes the .use of the circulating medium. These
depositories, and the amount of capital employed in banking, notwithstanding the excessive taxation imposed upon this business, nearly
keep pace with the advance in the population and wealth of the country 'y but the increase in the receipts and payment of banks and bankers, made by checks and drafts, shows the absurdity of the theory that
the money requiied for business purposes, should bear a fixed proportion to the population or to the wealth of the country.
The same causes which have operated to bring about a rapid reduction of the public debt have also tended to increase the circulating medium. The large imports of coin, in excess of exports, together with
the products of the mines, have filled the channels of circulation-. The
circulation during the past year has undoubtedly been much larger than
at any period since the organization of the government. The per capita
of circulation is larger, and it is probable that its proportion to wealth
is greater than at any previous time.* It is undoubtedly large enough
to supply the legitimate demands of business; and it is probable that
the addition to the coin of the country, since the resumption of specie
payments, has been in advance of such demands. There has been no
complaint of scarcity of money which cannot probably be traced to
those engaged in speculative business, and however great the aggregate of the circulating medium may become, complaints of scarcity will
always be heard from those who desire a rise in prices.
No other nation economises theuse of its circulating medium, as does
this,, and it is probable that but a slight annual increase in the amount
ofnational bank notes outstanding will hereafter be required, provided
that the exports of coin are not greatly in excess of imports, and the
receipts from our increasing revenue, in excess of the requisite reserve,
are kejit in circulation and not hoarded in the Treasury.
The interest-bearing bonded debt of the United States has beeu
rapidly reduced since 1869, at which time the funding of the miscellaneous obligations of the government had been successfully accomplished. The reduction of this debt during the twelve years ending
June 30, 1881, hus been more than six hundred and forty-eight millions
($648,403,668) and the amount of interest paid morethan one thousand
two hundred and seventy millions ($1,270,596,784); the average annual
payment of the principal being $54,033,639, and of interest, $105,883,065.
The annual average reduction in the interest-bearing debt during the
last three years, ending November 1, has been $126,295,816. The reduction during the past year was $148,648,550.
The successful refunding of the hve and six per cents as they matured,
at first into four and four and one-half per cents, and subsequently into
three aiid one-half per cents, and during the last year into three per
cents, together with the rapid reduction of the debt, has had the efiect
of renewing the discussion as to the permanency of the national banking
system, and its*ability uiider existing laws to supply the additional circulation which may be hereafter annually required. The banks hold 40
millions of three and one-half per cents, and nearly 180 millions of three
per cents as security for their circulation. If the debt should hereafter
continue to be reduced at the same rate as during the last year, all of
these bonds will be called for payment in less than three years, and it
will be necessary for the banks holding such called bonds, either to deposit lawful money for the purpose of retiring two hundred millions of
their circulation, or to purchase four or four and one-half per cents, or




144

REPOKT ON THE FINANCES.'.

'

,

Pacific Railway six per cents, which are now at a high premium in the
niarket.
'
,Many plans have beem suggested fbr the purpose of supplying the
deficiency in bank circulation, which it is probable will arise as these
bonds are paid.
The systems of banking in operation previous to the establishment
of the national banking system, and particularly those known as the
'' charter'' and '' safety-fund" systems, have been brought forward for
discussion, and opinions have been expressed that under the general
restrictions of the national banking system, or with increased limitations, it would be advisable for Congress to authorize the issue of circulating notes based upon the capital,.the assets, and the individual liability of stockholders, without requiring, as heretofore, the actual deposit
of securities in the Treasury for such issues. It has been suggested if
the circulation issued be considerably less than the actual capital paid
up, and if the bill holder be entitled to a first lien upon all the assets of
the bank, and to the amount which maybe collected upon the individual
liability of the shareholder, that the people would be abundantly secure
from any loss upon the circulation ^o issued by the banks. As supplementary to this proposition, it has also been suggested that the banks
be required to hold not less than the minimum amount of bonds now
provided by law, which is estimated not to exceed 100 millions of dollars, and that in addition they be required to deposit ten per cent, upon
their capital in coin with the Treasurer as a safety fund, and that they
shall continue to receive each other's notes in payment of obligations
due them.
It is not probable that the stockholders of those banks which do
' not desire to issue circulation, would be willing to continue business
upon the condition that they should contrib'ite so large an amount to a
fund intended to insure the public against the issues of,fraudulent or
badlyTUianaged institutions. It is suggested, however, that the proposition would be improved if banks desiring to issue circulation be required to contribute to such a fund a percentage upon the circulation
issued, instead of a percentage upon capital. If this fund, amounting
to, say, 30 millions, be held in United States three per cent, bonds instead
of coin, and the losses from the circulation of insolvent banks be small,
the interest, in the course of a few years, if retained as proposed, would
amount to a considerable sum. The large fund oh deposit in the Treasury for the purpose of redeeming the notes of ntational banks retiring circulation now amounts to more than 38 millions. If it should be thought
expedient to invest a considerable portion of this fund in three per cents^
thus releasing it from the Treasury, the income might also be added to the
safety fund. The gain resulting from the failure on the part of the public, to present for redemption national bank notes which are being retired
by aCn act of the present Congress, accrues to the benefit of the government, and it is estimated will amount to not less than from three to five
millions during each, twenty years. This gain might also properly be
included in the proposed safety fund, and in the course, of a few years
these funds, by reinvestment, would increase to so large an amount,
that the securities required t o ' b e deposited by the banks could be
largely diminished.
The foregoing propositions have no precedents in any form of general
legislation heretofore known in this country. Circulation authorized
upon similar plans has heretofore been issued to banks which have been
specially chartered, and not to banks organized under a general law.
Nearly every State in theUnion has had its experience in authoriziug



COMPTROLLER OF THE CURRENCY.

145

the issue of bauk notes, based exclusively upon the capital and assets
of the banks issuing the same; and many States have required the accumulation of a safety fund for the protection of the public from unsecured and uncurrent bank notes. In most cases circulation was
iiuthorized to be issued by such banks equal to the capital; sometimes
the amount issued was less; sometimes it largely exceeded the capital.
The Suffolk system in the New England States, which was perhaps
as good a system as could be desired to protect a bank circulation not
secured by bonds, by a prompt and vigorous redemption of the notes,
kept them in a healthy state, but the annual losses upon bank circulation, even in the New England States, up to the time of the organization of the national banking system, were by no means inconsiderable.
Notwithstanding the restrictions then existing, banks of circulation were
organized with but little capital paid in, and notes, either worthless or
irredeemable, were placed in circulation atpoints remote from the places
of issue. In New York under the safety fund system, and jirevious
thereto, losses to the bill holders frequently occurred, and in other States,
almost without exception, such losses were large, and have usually been
estimated to have been, in the aggreg^ate, not less than five per cent,
annually of the whole amount outstanding. It is true that there are
in England, Ireland, and Scotland 119 private and joint-stock banks,
with many branches, which are authorized, to issue circulation based
upon 'their capital, but their authorized circulation is only about 100
millions of dollars. Thirty-five banks, with numerous branches in the
Dominion of Canada, are also authorized to issue circulation in a similar
manner, but the total circulation of these banks does not exceed 35
millions. Most of these are banks which have been in existence for
many years, and were organized under speciajl charters, and the liability
of the shareholders in many cases, particularly in G-reat Britain, is
unlimited.
= ,
No State or nation has ever authorized the organization of banks
under a general banking law, with the right to issue circulating notes
proportionate to capital, except under a restriction requiring the deposit with the government of securities as the basis for the issue of such
notes. Banks in this and in other countries, which have been authorized
to issue circulating notes without security, have been those organized
under special charters, and in granting such charters the nieans and
character pf the applicants and proposed stockholders are subject to
investigation by committees and legislators. Propositions for the issue
of circulation without the fullest security cannot be too carefully considered. The security of the national-bank note under the present system is perfect. In twenty years not a single bank note has failed to
be redeemed at its face value. Banks organized under a general law,
located so often at great distances from commercial centers, render a
security for circulation of uniform and positive value an absolute necessity. It is evident that the authorizing of more than three thousand
banks, under a general or free banking law, to issue circulation without
security, located in a country having such extensive territory as our
own, would result disastrously.
Under the present banking system it is difficult in all cases to prevent the organization of banks with deficient capital, but if such banks
are organized, at least no injury can hapiien from the issue of their circulating notes. The failure to pay the capital is almost certain soon
to be ascertained, when such associations can be summarily closed, or
required to make good the deficiency. If under the proposed system,
banks should be organized with deficient capital and receive circulOi.10 F



146

REPORT ON THE FINANCES.

tion, an irreparable injury would be accomplished before the worthless character of the assets could be ascertained. It would be practically impossible for any government officer to prevent unprincipled
jQen from organizing and controlling such associations for the purpose
of benefiting themselves at the expense of the holders of their circulating notes.
There are in this country more than a thousand State banks and trust
companies, and nearly thirty-four hundred private bankers. The temptation would be strong, on the part of these corporations and individuals, to organize banks of circulation, if circulation could be obtained
without depositing bonds as security therefor. The value of the different
notes issued would depend upon the management of the bank and character and standing of the different stockholders. Many notes w^ould be
at a discount in exchange for coin, and the failure of one bank to pay
its notes, would throw discredit upon the whole volume of bank circulation and the system under which such banks ^vrre organized. If the
issue of circulation were confined to a few banks, organized by men of
character, integrity, and means, such associations would be characterized as a monopoly. Even if corporations are organized upon the condition that all should contribute a percentage of the circulation to a
safety fund for the protection of the aggregate circulation, there is
danger that the issues of fraudulent or badly-managed banks Vould
soon: consume the safety fund, and it is evident that the circulation
would be paid, if at all, at the expense of the depositor, who would be,
in some cases, stripped of the dividends Avhich under existing laws are
distributed to unfortunate creditors.
Under tlie national banking system, it is provided that the circulation issued shall first be paid from the proceeds of the bonds deposited
to secure the same. The proceeds of the remaining assets are distrib-„
uted pro rata among the creditors. Eighty-seven national banks, in all
having an aggregate capital of $19,262,600, have failed during the last
twenty years, and since the organization of the system. The amount
of circulation to which these banks were entitled under existing laws,
namely, ninety per cent, upon capital, is $17,336,340, which is a less
amount in the aggregate than the amount of dividends which will have
been paid to the creditors of these insolvent institutions. Forty-four
of these banks, having a capital of $10,094,000, would each have paid
in full their,circulation, if ninety per cent, had been issued upon their
capital, from the i)roceeds of their assets, and would also have paid
small dividends to their depositors. The remaining forty-three insolvent banks, having a capital of $9,168,600, would in the aggregate
have paid, it is estimated, seventy-five per cent, only, from the avails of
their assets upon the circulation authorized; entailing a loss upon the
bill-holders of over $2,000,000, and leaving no assets whatever for the
benefit of the depositors, whose claims are $9,043,605, and upon which
dividends will be paid averaging, it is estimated, sixty-eight per cent.
While these forty-three banks would in the aggregate have paid seventyfive per cent, to the bill-holders, about one-half of this number would
have paid on the average from the avails of their assets not exceedingfifty per cent, ofthe amount of their circulating notes.
The losses which the holders of the notes of insolvent banks would
have experienced underthe national banking system, if securities had
not been required to have been deposited, would have been small in comparison with the whole circulation. But the fact that such losses would
have occurred in so many banks, and that, too, at the expense of the depositors under a system with so many safeguards and restrictions, is



COMPTROLLER OF THE CURRENCY.

147

an argument from experience against any proposition to issue notes for
©irculation under any general system, without requiring suffident security, which cannot easily be answered.
if the public debt is to be paid hereafter as rapidly as during the past
three years, all of the interest-bearing bonds will soon be surrendered
and canceled, and there is danger that the bank circulation willbe so rapidly retired as to cause a contraction of the currency which will afiect the
price of commodities and create embarrassments in business; but there
is now no such pressing necessity for a speedy payment of the public
debt as there is for the reduction of the redundant revenue. I t is believed that Congress will soon provide for so large a reduction ofthe
revenue that a sufficient amount of bonds w^ill remain for the security of
the bank circulation.
The national banks held, on November 1, bonds for circulation, not
payable at the pleasure of the government, as follows:
Four aud oue-half per cent, bonds
Pacific Railway sixes
Four per ceut.'bonds
•.

•.

Total

|33,754,650
3,526, O O
U
104,917,500142,198,150

None of these bonds will be payable until nine years hence, in the
year 1891. The total amount of bonds outstanding, held by the banks
and by the people, which are available for circulation, and not payable
at the pleasure of the government, and cannot be redeemed except by
purchase in the market, is as follows:
Four per ceuts., payable J u l y 1, 1907
Four aud oue-balf per cents:, payable September 1, 1891
Pacific Railway sixes, payable September 1, 1895
Pacific Railway sixes, payable September 1, 1896
Pacific Raihvay sixes, payable Septeiuber 1, 1897
Pacific Railway sixes, payable September 1, 1898
Pacific Railway sixes, payable September 1, 1899

=.
$3, 002, 000
8,000,000
9,712,000
29,383,000
*14,526,512

$738,929,600
250, 000,000

64,623,512
1,053,553,112

These bonds, including the Pacific sixes, amount to nearly 1,054
millions, and are abundantly sufficient as a basis for banking during
the next twenty years. In fact, one-fourth of this debt, exclusive of the
142 millions held by the banks, is sufficient to supply a basis for the bank
notes now outstanding. The law provides that any bank may reduce
the amount of its bonds held as security for circulation, to an amount
not less than $50,000, and, by an act of the present Congress, banks
having a capital of $150,000 or less can reduce their bonds to a minimum of one-fourth of their capital. The aggregate amount of bank circulation outstanding has not been reduced for a series of years, as may
be seen from the following table, which gives the total amount of the
national bank circulation outstanding on the 1st of June and 1st of November of each year since 1873:
IsTational-bank
notes.

Date.
J u n e 1, 1874.,
J u n e 1, 1875.
J u n e 1, 1876.
J u n e 1, 1877.,
J u n e 1, 1878.
J u n e l , 1879.,
J u n e l , 1880..
J u n e 1, 1881.
J i u n e 1, 1882.

$351, 850, 502
354, 455, 473
336, 665, 930
319,096,212
323, 988, 085
329, 539, 411
345,183, 783
354,151, 718
359, 875, 334

Date.

November
November
Noveniber
November
November
November
November
November
November

1.1874 .
1.1875 .
1.1876 .
1.1877 .
1.1878 .
1.1879 .
1.1880 .
1.1881 .
1.1882 .

*$483, 512 of t h i s a m o n n t is p a y a b l e i n 1900 a n d |4,680 in 1902.




National-bank
notes.
$354-077, 246
3487216, 902
323, 241, 308
318, 207, 231
322,460,715
337,181,418
343, 834,1C7
360, 344, 250
362, 727, 747

148

REPORT ON THE FINANCES.

The above table exhibits the total circulation actually outstanding,
which includes the notes of the insolvent banks, of those in voluntary
liquidati(^i, and of those which have deposited lawful money for the purpose of reducing their circulation.
The circulation of the banks in operation during the present year
has, however, by the payment of the bonds held as security and the
voiuntary retirement of bank notes, been reduced from $320,200,069 to
$314,721,215, as will be seen from the table below, which gives, by geographical divisions, the amount of notes outstanding of the banks in
operation in the month of October yearly since 1877.
1877.
N o . of
banks.
N e w Enpiland S t a t e s
Middle States
Southern States
Western States .. Pacific S t a t e s a n d T e r r i t o r i e s

Circulation.

291, 874, 236 00

N o . of
banks

Circulation.

543 $112,106,441 00
635 109,134, 919 00
176
21, 837, 670 00
663
55, 850, 523 00
36
2, 958, 539 00

547
641
175
649
36

$117, 088, 368
113,121, 339
23,478,426
56, 921, 027
3,177,182

301, 888, 092 00

2,048

N o . of
banks.

543 $107, 308, 787 00
633 102,562.331 00 •
176
20, 604,171 00
693
58, 542, 738 00
35
2, 856, 209 00
2,080

2,053

1880.
N o . of
banks
N e w England States
:
Middle States
Soutbern States
Western States
Pacitic States and Territories

Circulation.

550 $121, 460, 013 00
657 110, 765, 602 00
179
24, 305, 338 00
600
57, 048, 761 00
44
3, 770, 322 00
2,090

317, 350, 036 00

1879.

1878.

Circulation.

Circulation.

554 $123, 764, 682 00
668 111, 639, 689 00
185
24, 698, 702 00
673
56, 268, 899 00
52
3, 828, 097 00
2,132

320, 200, 069 00

313, 786, 342 00

1882.

1881.
N o . of
banks.

00
00
00
00
00

N o . of
banks

Circulation,

558
686
208
743
74

$119, 658, 618 00
109, 039, 214" 00
25,105, 793 00
56, 376, 988 00
4,540,602 00

2, 269

314, 721, 215 00

The reduction from January 1 to July 1 of the present year was still
greater, and amounted to more than 16 millions, but the amount has
again increased, as is usual in the fall season of the year. Banks, during
theyear, have been frequently called upon to surrender their bonds to
the Secretary for payment. In such cases the three and the three and
one-half per cents have usually been substituted or the circulation surrendered. The amount of four and four and one-half per cents held as
security for bank notes have, however, during the year increased more
than 14 millons.
The banks hold, as has been seen, 220 millions of dollars of United
States bonds which are subject to the call of the government, and these
bbnds can be replaced only by other bonds bearing a high premium,
and payable after a fixed date. If these latter bonds are not substituted
for the former, the cifculation of the banks will be reduced about 200
millions.
The profit upon circulation upon the four and four and a half per cent,
bonds, where the rate of interest is six per cent., is not much in excess
of three-fifths of one per cent., and where the rates of interest are above
eight per cent, the profits are nominal, and are not sufficient to induce
the banks to purchase large amounts as security for circulation. Where
the profits are so small there is a serious objection to the investment of



COMPTROLLER OF T.HE CURRENCY.

149'

SO large an amountof capital in premium, which, in the case of four per
cent, bonds, amounts to one-fifth ofthe face value ofthe bonds.
If the whole public debt were reduced to a uniform rate pf three pec
cent., the present high premium, upon bonds would almost entirely disappear, and the volume of circulation would respond more readily to
the demands of business. The temptation to sell such bonds for the
purpose of realizing the premium would no longer remain. A proposition for refunding all the bonds, not payable at the pleasure ofthe
government, into three per cents, was suggested during the last session of Congress. The proposition is that inducements be ofiered to the
holders of the four and four and one-half per cent, bonds to surrender
them to the government, receiving in payment therefor three per cent,
bonds having the same dates of maturity as the bonds which are to be
surrendered. The new three per cent, bonds issued would themselves
bear a small premium, and it is believed that the holders of four per
cents, would consent to such an exchange if accompanied by an offer
of not more than fifteen per cent. j)remium. The amount of the premium upon this class of bonds, saj^ 700 millions, now outstanding at
fifteen per cent, would be 105 millions of dollars, and this premium
could be paid, as the bonds.are surrendered for exchange, from the
surplus revenue of the government,, thus in efiect reducing the debt of
the government .105 millions by a prepayment of .interest which must
be paid at a greater rate each yjcar until their,maturity.^.
,The benefits of .this plan both to the .holder.ancl to tbe/go vernment
are apparent. The holders would.,receive, in the shape of ^fifteen per
cent, premium upon the bonds, a portion of their interestin advance,
which would be available for loans.at rates;greatly exceeding the borrowing power of the 'government,,which is.now less than three per.cent.
The.gpvernment would be enabled by this use of its surplus to save a
portion of the interest which otherwise it would be compelled to pay
hereafter.
The market price of the four per cent, twenty-five-year bonds is now
119.20, which indicates a market estimate of a borrowing rate of interest
of 2.92 per cent, per annum to the goyernment. At.this rate the
present value of one per cent, of interest upon each $100 bond annually
for twenty-five years, relinquished by the holder, is $17.70. If the holder
accepts fifteen dollars as-an equivalent for these twenty-five annual
payments, instead of $17.70—a reduction of $2.70 from the. market
estimate of the value—the government will practically purchase from
the holder of the bond at a four and one-half per cent, rate of interest
instead of at 2.92 per cent. In.other words, the xiresent value of the
twenty-five one dollar annual i)ayments relinquished by the holder, when
computed at the rate of 2.92 per cent, per annum, is worth $17.70; but,
computed at the rate of four and one-half per cent, is worth only $15, a
premium which, it is believed, the holders would be willing to accept;
and if the government be able to invest its surplus revenue at a. rate so
favorable to itself as four and one-half per. cent., there would seem to be
good reason for Congress to provide the necessary legislation for authorizing an arrangement which can also be shown to be of advantage to the
holders of the four per cent, bonds.
One alternative would be to reduce the tax upon circulation to onehalf of one per cent, per annum, and another to amend section 12 ofthe
act of July 12, 1882, so as to authorize the banks, to receive circulation
at the rate of ninety per cent, upon the average current market value of
the bonds forthe six mouths preyious. If the bonds shall decline in
the market, additional bonds may be required to be deposited, or the



150

REPORT ON THE FINANCES.

interest may be retained by the Treasurer upon notice from the Comptroller to make up the deficiency. Such an amendment has frequently
been suggested, and, in fact, the original national bank act authorized
the issue of circulating notes to the amount of 90 per centum of the
current market value of United States six per cent, bonds deposited,
provided that such 90 per centum was not in excess of the amount of
the bonds at their par value, or in excess of the paid-in capital stock.
That law also provided for the deposit of additional bonds or money upon
their depreciation, or the suspension of payment of interest upon the
bonds held, so long as the depreciation should continue.
It is submitted that the issue of circulation upon four and four ajnd
a half i^er cents at ninet}^ per cent, uxion their current market value,
under a restriction similar to that last mentioned, is eqiiall^^ safe with
the issue of ninety per cent, upon the three per cents now outstanding
at x)ar; or that a reduction of the tax upon circulation to one-half of
one i^ev eent., or to an amount sufficient to reimburse the Treasury for
the whole exxiense of the issue of bank circulation and all expenses incident thereto, is not unreasonable in view of the fact of the large reduction upon the income derived from United States bonds, amounting
to more than two x^er cent, since this tax was imposed.
Either of these plans is feasible and would prevent a sudden contraction of the currency, by bringing into possession of the banks a sufficient
amount of bonds to supply the circulation which is needed, and is certainly greatly to be xireferred to the x^ropositions for a large increase in
legal-tender notes—if such issues were practicable—or to the issue of
bank circulation without a deposit of bond security under restrictions
however stringent.
If, however, it shall be the xiolicy of the government to accumulate
the revenue instead of largely reducing it, thus rendering it necessary
to continue the rapid reduction of the debt even if it is to be purchased
at the x'>rice fixed byT:he holders, it is of the greatest imxiortance that
the basis uxion which the bank currency is issued should be enlarged so
as to include some other form of security besides government credit.
The national banking system has been in operation nearly twenty
years, and may be said to have not yet attained its majority. It is part
of the machinery of the government. Its advantages have been well
tested in good and in evil times, and during the searching and acrimonious discussions of the last ten years, the final result of which has been
the legislation of the present Congress authorizing the extension of the
period of succession of each one of these institutions for twenty years
from the date ofthe exx3iration of its corporate existence. The Comptroller, while he believes it is for the best interests of the government
to continue the national banking system, subject to such improvements
as shall hereafter be authorized by Congress, is after all of oxiinion that
it would be better that the circulation should diminish in volume, than
that the issue should be increased at the risk of placing in the hands
of the poorer classes uncurrent and irredeemable circulation, or of giving to associations organized by unscrupulous men an oxiportunity to
use an excellent systeni of banking for bad purposes.
The national banking system was established with a yiew to uj}root other and evil systems, and nothing but the heroic legislation
of taxing bad issues of circulation out of existence, which was xiassed
in the interests of the government during a great war, could have accomplished this purpose. By increasing the rate of issue ux)ou the
bonds ifiedged by the banks as security for their circulation, or by
reducing the tax upon bank notes, or by a proper refunding ofthe debt,




151

COMPTROLLER OF THE CURRENCY.

and reducing the revenue derived in many instances from unjust and
burdensome taxation, the system may continue for twenty-five years,
or until the maturity of the four per cents; but it is far better that the
right to issue notes should be gradually discontinued than that so good
a systeni should be used to bring again ux3on the country the very evils
which were experienced at the time of its organization, twenty years ago.
DISTRIBUTION OF COIN AND P A P E R CURRENCY.

In the reports of the" Comptroller for the three years xu'eceding 1882,
tables have been given showing the amount of coin and currency, and
its distributipn in the Treasury, in the banks, and in the hands of the
Xieople on January 1, 1879, the date of the resumption of specie payments, and on November 1' of that and each succeeding year. These
tables are again presented, the amounts on November 1, 1882, having
been added.
From November 1, 1881, to Novemberl, 1882, the xiroduction of gold
by the mines of the United States is estimated at $43,359,021, and the
amount of gold exported from the country, in excess of the amount imported, has been $36,122,536. The difference, $7,236,485, is the increase
during the year. The Director of the Mint estimates that $2,700,000 of
this amount has been used in the arts, leaving $4,536,485 as ttie increase
in the stock of gold remaining in the country and available for circulation. The total excess of imports of gold,over exxiorts, from the date
of resumption to November 1,1882, has been $161,311,578, and the total
gold product of the mines of the United States for the same period is
•estiinated to have been $147,509,021. This is the first year since 1879
•during which th(3 exportation of gold has exceeded the importation.
During the last two months (September and October, 1882) the imports
have, however, slightly exceeded the exports.
The amount of standard silver dollars coined during theyear has been
$27,657,175, and the total aniount coined up to November 1, 1882, since
the passage of the law of February 28, 1878, authorizing their coinage,
has been $128,329,880.
The following table shows the amount of coin and currency in the
country on January 1, 1879, and on November 1 of thej^ears 1879,1880,
1881, and 1882:
Jauuary
1,1879".
G o l d coin*
S i l v e r coin*
Leffal-tender n o t e s
National-banknotes
Totals

$278,
106,
346,
. . . 323,

310,126
573, 803
681, 016
791, 674

November
1,1879.
$355, 681, 532
126, 009, 537
346,681,016
337,181, 418

1, 055, 356, 619 1,165,553,503

November
1,1880.

November
1,1881.

November
1,1882.

971
365
016
250

$567,105, 456
212, 324, 335
346,681 016
362,727, 747

1, 302, 718, 726 1, 455, 631, 602

1,488, 838, 554

$453,
158,
346,
343,

882, 692
320, 911
681, 016
834,107

$562,
186,
346,
360,

568,
037,
681,
344,

There has been no change in the aggregateof legal-tender notes outstanding, which remains as fixed by the act of May 31,1878. Nationalbank notes have increased $2,383,497 during the year ; the amounts of
gold and silver coin have increased $4,536,485 and $26,280,970, resxiectively, making a total increase in coin and currency of $33,206,952.
° The table below gives the portion of coin and currency held by the
United States Treasury, and by the national and State banks. The
amounts in the Treasury are for the same dates as in the preceding
*Estiaiate of Director pf the Mint, Avkicli includes bullion in process of coinage.




152

REPORT ON THE FINANCES.

table, and those in the national banks are for the dates of the bank returns nearest thereto, viz, January 1 and October 2, 1879, October 1^
1880 and 1881, and October 3,1882. The amounts in the State banks^
trust companies, and savings banks have been comx3iled in this office
from official rexDorts for the nearest obtainable dates.
January
1, 1879.

November
1, 1879.

November
1, 1880.

November
1, 1881.

$112, 703, 342

$156, 907, 986

$133, 679, 349

$167, 781, 909

$148, 435, 473-

35, 039, 201

37,187, 238

102, 851, 032

107, 222,169

94,127, 324

10, 937, 812

12,171, 292

17,102,130

19, 901, 491

17, 892, 500-

158, 680, 355

206, 266, 516

253, 632, 511

294, 905, 569

260, 455, 297

17, 249, 740
9,121, 417
6,048,194
6, 460, 357

32,115, 073
3, 824, 931
17-, 854, 327
4, 986, 492

47,156, 588
6,185, 000
24, 635, 561
6, 49.5. 477

66, 576, 378
3, 424, 575
25, 984, 687
7,112, 567

92, 414 97T
4, 012, 503
26, 749, 482
8, .234, 739-

38, 879, 908

58, 780, 823

84, 472, 626

103, 098, 207

131 411 701

26, 224, 248-

Noveraber
1, 1882.

GOLD.

I n t b e Treasin-y, less certificates
I n national banks, including
certificates
I n S t a t e b a n k s , i n c l u d i n g certificates
Totalgold
SILVER.

I n t b e T r e a s u r y , s t a n d a r d silver dollars
I n t b e T r e a s u r y , bullion
I n t b e T r e a s u r y , f r a c t i o n a l coin
I n national banks
Total silver

.

CURRENCY.

I n t h e T r e a s u r y , less certificates . . ' . ' . . . . : . . .
I n national banks, including
certificates
I n S t a t e b a n k s , i n c l u d i n g certificates
I n savings banks
Total currency
Grand totals

i?

44, 425, 655

21, 711, 376

18, 221, 826

22, 774, 830

126, 491, 720

118, 546, 369

86, 439, 925

77, 630, 917

92, 549, 767

25, 944, 485
14, 513, 779

25, 555. 280
15, 880, 921

2.5, 828, 794
17, 072, 680

27, 391, 317
11, 782, 243

27, 086, 48214, 724, 978'

211, 375, 639

181, 693, 946 |

147, 563, 225

139, 579, 307

160, 580, 475-

408, 935, 902

446, 741, 285

485. 668. 362

537, 583, 083

552, 447, 473-

If the amounts of gold and silver coin and of currency in the above
table—that is, the amounts of these items in theTreasury and the banks—
be deducted in each case from the amounts of gold and silver coin and
currency in the country, as showii in the first table, the remainder will
be, approximately, the amounts which are 4n the liands of the people,,
as follows:
January
1, 1879.

Gold

I

Silver
Currency
Totals

' November
1, 1879.

November
1, 1880.

Noveraber
1, 1881.

$119, 629, 771
67, 693, 895
459, 097, 051,

$149, 415, 016
67, 228, 714
502,168, 488

$200, 250,181
73, 848, 285
542, 951, 898

$267, 663, 402
82. 939,158
567,-445, 959

$306, 650,159^
80, 912, 634
548, 828, 288

646, 420, 717

718, 812, 218

817, 050, 364

918, 048, 519

936, 391, 081

Noveraber
1, 1882. •

The gold in the Treasury, including bullion in the xirocess of coinage,,
has decreased during the year $19,346,436, and in the banks $15,103,846.
The paper currency ifi the Treasury has increased $3,449,418, and in the
banks $17,557,650. The increase of gold outside of the Treasury and
the banks has been $38,986,757, and the decrease of paxier currency,,
exclusive of silver certificates, $18,617,671. In the foregoing tables
the silver certificates issued by the Treasury have not been included, but
the standard silver dollars held for their redemxition on presentation



COMPTROLLER OF THE CURRENCY.

15S

form a portion of the silver coin in the Treasury. The silver certificates
in the hands of the xieople and the banks, at dates corresxionding with
those given in the preceding tables, were as follows:
J a n u a r y i, 1879
November 1, 1879
Noveraber 1, 1880
November 1, 1881
November 1. 1882

'.
L
\
,

$413, 360
1,604, 370
19,780,240
58, 838. 770
65.620, 45C^

It will be seen that the amount of these certificates in. circulation has
increased only $6,781,680 during the past year, and if this whole increase
were held outside of the banks, it would not offset the decrease of
$18,617,671 in other forms of paper currency in the hands of the people,
for which coin has been substituted.
As before stated, the total amount of standard silver dollars coined
up to November 1, 1882, was $128,329,880, of which, as shown in
one of the foregoing tables, $92,414,977 was then in the Treasury, although an amount equal to $65,620,450 was represented by certificates
in the hands of the peoxile and the banks, leaving $26,794,527 belonging
to the Treasury. Ofthe $128,329,880 coined, $35,914,903 was therefore
circulating outside of the Treasury in the form of coin, and $65,620,450 in
the form of certificates. The remainder of the silver, $83,994,455, consisted of subsidiar;y coin, trade dollars, and bullion, of which $30,761,935
was in the Treasury, and $53,232,520 was in use in place of the.paper
fractional currency for which it iwas.substituted,.as against $55,955,398
similarly.employed on Noyepiber 1^ 1881.. The. increase of gold and silver coin and paper currency, outside of the Treasury, since the date of
resumption is thus estimated to have been $289,964,414, and the increase
during the year ending November 1, $18,336,612; or, if the amount of
silver certificates in circulation be added, the total increase sinceresumption would be $355,172,504, and during the past year, $25,118,292.
ILLEGAL CERTIFICATION OF CHECKS.

The xiractice of certifying checks had been in use for more than thirty
years, previous t o t h e organization of thenatlonal banking system, anil
at least twenty years previous to the establishmentof the clearing house.
I n the beginning, this certification was not considered as legally binding the bank to pay the check. For many years it had little signification other than as giving clerical information, and the amount of the
check, when certified, was not charged .to the account of the drawer
until it was afterwards presented for payment. Subsequently, after the
year 1854, when the clearing house was organized, it became the custom
to present checks, and also bills receivable or acceptances on the day of
. maturity at the bank where they were made xiayable for certification.
The bills and checks which were certified, were then returned to the
bank messenger who had xiresented them, and on the following morning
were transmitted to the clearing house with other exchanges.
The certification consisted ofthe signature.of the paying teller, Avritten
across the face of the xiaper inside of a stamp bearing the date of the
certification and the title of the bank. This form of certification was
regarded;as a legal obligation of the bank, and :the amount of the check
was charged to the account of the drawer at the date of the^ certification.
If the maker or acceptor of notes or bills was in good standing at. the
bank ^t which it was made xiayable, such bills were not unfrequently
certified, even if the fuU amount Avas not to the credit of the account to



154

REPORT ON THE FINANCES

which it was subsequently charged. Bills or checks are usually presented for certification during the first business hours of the day, and
the deposits of merchants and brokers are not usually made until the
later hours of the day. The officers of the bank, who know the usual
habits of their dealers in making their deposits, as well as their responsibility, do not hesitate to assume the payment of checks or drafts
which they feel assured will be x^'ovided for before the exchanges of
the clearing house are received. If these certifications were confined to
mercantile and commercial transactions, little objection would have
been raised to the practice, and it is not probable that there would have
been any legislation xirohibiting it. I t would certainly seem to be advisable to leave to the discretion of a bank the right to accexit bills
drawn by correspondents at a distance, or by merchants at hom.e, whose
standing is beyond question, and whose deficiency in the account is
kuown to arise from delay in receiving remittances or inaking deposits.
A refusal to certify or pay under such circumstances would be likely to
subject the bank to the loss of the accounts of its most valuable dealers.
Such legitimate certifications in mercantile or commercial transactions
are for comxiaratively small amounts, and would not attract attention
as a large item in the abstracts of the condition of the banks in the city
of New York, to which this xnactice is chiefly confined.
The large use of these instruments by which the banks in efiect
guarantee the contracts of stock-brokers with their customers has
grown to be a great abuse during thepast few years, and cannot be defended upon any correct xirinciple^of banking. This business is chiefiy
done by nine or ten national banks, although other banks, organized
under State laws as well as national, certify similar checks for considerable amounts.
Section 5208 of the Eevised Statutes makes it—
Unlawful for any officer, clerk or agent of any national banking association to certify any check drawn nx3on the association, unless the person or company drawiijg the check has on deposit with the association, at the time such 'check is certified,
an amonnt of money equal to the amount specified in such check.

There are many methods of evading this laAv. If certification is
required iu excess of the amount on deposit a demand note is made,
and the amount thereof is entered to the credit of the broker desiring
the accommodation; or his check upon another bank is received without certification, and a temxiorary credit entered upon his account, and
these temporaiy credits are canceled at the close of business when the
acccount has been made good. Brokers asking for such over-certifications keexi large balances to their credit, on which the bank pays no
interest. Certification is made without charge, the bank receiving its
eompensation in the large deposits A hich stand to thecredit of the
V
broker. The banks justify the practice uxion the ground that it is of
great convenience to the community, and that stock transactions, xoarticulaiiy, could not be carried on without some such arrangement. They
insist that for manj^ years only trifling losses ha-A^e arisen from the
Xiractice—very much less than the losses incurred by them in ordinary
discounts.
Section 13 of the act of July 12, 1882, proAades :
That any officer, clerk, or agent of any national-banking association who shall
willfully violate the xirovisions of an act entitled "An act in reference to certifying
checks by national banks," axDX^i'OA^ed March third, eighteen himdred and sixty-nine,
being section fifty-two hundred and eight of the Revised Statutes ofthe United States,
or who shall resort to any device, or receive any fictitious obligation, direct or collateral, in order to CA^ade the x'>roAnsions thereof, or who shall certify cliecks before the




COMPTROLLER OF THE CURRENCY.

155

amount thereof shall have been regularly entered to the credit of the dealer upon the
books of the banking association, shall be deemed guilty of a misdemeanor, and shall,
on conviction thereof in any circuit ur district court of the United States, be fined not
raore than five thousand dollars, or shall be imx)risoned not more than five years, or
both, in the discretion of the court.

Previous to the xiassage of this act those national banks which are
accustomed to make large advances to brokers for stock transactions
certified checks for large amounts under evasions of the law, or such
arrangements or agreements as AA^ere deemed by them not to be in conflict with section 5208 of the EcAnsed Statutes. The latter act seems to
have been xiassed for the purpose of preventing the evasions of the preA'ious law to which reference has been made. The language of the
section is: ^' Or who shall resort to any dcA^ce or receive any fictitious
obligation, direct or collateral, in order to evade the x:)rovisions thereof"
Since the xiassage of this act the banks have accepted checks which.
haA^e been drawn upon them instead of certifying them, and have assumed that such accexitance is not in violation of law. In some cases
these accex^tances are made payable through the clearing house, the
effect of which form of acceptance is that such checks are payable uxion
the following day; in other cases the acceptance is made without any
condition as to the mode of its xiayment. The banks claim that they
have xiower to accept checks under the third and scA^enth paragraphs of
section 5136 of the Eevised Statutes. The former authorizes national
banks "- to make contracts," and thelatter xiroA^des forthe ''exercise of
all such incidental powers as shall be necessary to carry on the business
of banking." It is also claimed that section 5209 of the EcA'-ised Statutes, which xirovides that it shall be a misdemeanor for an officer of a
bank to make acceptances without xiroper authority, by implication authorizes accexitances to be made with the authority of the directors, and
that the act of July 12, 1882, does not, in plain terms, xirohibit such acceptance. ^Tlie Comptroller being in doubt in reference to the x^oper
construction of the section, prepared a letter containing the following
questions, Avhich, at his request, Avas submitted by the Secretary to the
Attorney-General for his opinion :
Has a national bank the legal right to accept checks drawn n-pon it, unless the
drawer has the amonnt stated in the check actuaUy on deposit in the bank?
If a national bank has the power to make snch an acceptance, would such acceptance at a time when the money A\'as not on deposit to the credit of the drawer be a
liability to it for money borrowed, and as such be reqnired to bo limited to one-tenth
of the paid-in capital of the bank, as xirovided by section 5200 United States Revised
statutes?
If a national bank has tlie power to accept such checks equal iu amount in anyone
case to one-tenth of its capital, Avould the accexitance of any number of checks to an
amonnt exceeding, in the aggregate, the amount of its paid-in capital be in violation
of section 5202 United States Revised Statutes ?

The Adolation of section 5208, Eevised Statutes, subjected a national
bank to the axipointment of a receiver. The law was not mandatory, and
the appointment was left to the judgment and discretion of the Comptroller. The xiroper groundfor the appointment of a receiver is insolvency,
and it may be questioned Avhether the responsibility for taking a bank
from the control of its owners should be exercised in other cases than
insolvency until the question of violation of law shall have been brought
before the courts for determination. No appointments of receivers have
CA^er been made since the organization of the national banking system,
except in cases of insolvency, altnough two large banks which had
Xireviously been found to be insolvent, were placed in charge of a receiver for illegal certification of checks.




156

REPORT ON T H E X'INANCES.

The passage of the act of March 3, 1869 (section 5208, Eevised Statutes), and the examinations which followed, had the efiect to check and
diminish the xiractice of certification. The practice has, however,
greatly increased during the last three years, and the returns of the
banks for October 3, the date of their last statement, discloses the fact
that the amount of certificates or acceptances made on that day was
nearly one-third greater than for a corresponding date in the year xirevious ; and that the amount of acceptances for stock-brokers of nine
national banks on that day was more than nine times the aggregate capital stock of those banks, as may be seen from the following table, which
exhibits the amount of caxiital and certified checks or acceptances outstanding of all the national banks of New York City for corresponding
,dates from 1875 to 1882 inclusiA^e, and like information iu reference to
nine national banks for the same dates.
Date.

No. of
banks.

June 30, 1875
Octoberl, 1875...
June 30,1876
October 2, 1876...
June22, 1877.....
Octoberl, 1877...
J u n e 29,1878
Octoberl, 1778...
June 14, 1879
October 2, 1879...
J u n e l l , 1880
October!; 1880...
June 30, .1881
Octoberl, 1881...
July 1, 1882......
October 3, 1882...

Capital.

Certified
cbecks.

Date.

m , 500,000 541, 223, 840 .Tune 30, 1875...
68, 500, 000 28, 049,100 October 1, 1875.
66, 400, 000 36, 983, 391 June 30, 1376...
65, 850, 000 38, 725,100 October2, 1876.
57, 400, 000 29, 450,134 ^June 22,1877...
57, 400, 000 29,199, 900 October 1, 1877.
55, 600 000 42, 576, 240 June 29, 1878 ..
October 1, 1878.
53, 486, 300 40, 296,100
50, 750, 000 44, 465, 002 J u n e l 4 , 1879...
58, 827, 717 October 2, 1879.
48, 750, 000
50, 450, 000 75, 737, 938 June 11, 1880...
49, 900, 000 61, 791, 510 Octoberl, 1880.
51,150, 000 78, 142,179 June 30, 1881...
51,150, 000 97, 522,120 Octoberl, 1881.
51, 500, 000 6.5,101,191 July 1, 1882. ..
October 3, 1882.
51, 650, 000 137, 316, 600

No. of
bauks.

Capital.

9 $18, 300, 000
9 18, 300, 000
9 17,100, 000
9 17,100, 000
9 14, 300, 000
9 14, 300, 000
9 33,750,000
9 12, 700, 000
9 11, 700,000
9 11, 700, 000
9 11, 700, 000
9 11, 700, 000
9 11, 700, 000
.9 11, 700, 000
9 11, 700, 000
9 11, 700, 000

Certified
cbecks.
$25, 889. 826
17, 835; 333
22, 893, 395
20, 722, 766.
19,191,192
17, 576, 591
29,134, 950
26,147, 765
30, 274, 422
42, 875, 636
54, 521,170
43, 396, 496
53, 820, 573
71, 635, 693
45, 563, 450
105, 481, 705

The penalty for the Aaolation of section 13 of the act of July 12,
1882, is a fine of not more than $5,000, or imprisonment for not more
than fiveyears, or both, upon conviction thereof in any circuit or district
court of the United States; and the penalty for the violation of other
laAVS relating to the national banks where the xienalty is not specified
is the forfeiture of the rights, privileges, and franchises of an association,
to be determined and adjudged by a proper circuit, district, or Territorial court of the United States.
The Attorney-General, in answer to the questions submitted to him,
has returned an oxiinion, in AA-hich he says:
These provisions together [section .5208 Revised Statutes, and section 13 ofthe act
of July 12, 1882] prohibit the certification of a check drawn upon a national bank,
where, at the time of certification, the drawer has not on deposit with the bank, and
regularly entered to his credit on its books, an amount of money equal to the amount
of the ciieck.
:What, then, is certification of a check? It is an act on the part of the bank upon
which the check is drawn, implying (as is obseiwed by the Supreme Cpurt in the case of
Merchants' Bank v. StateBank, 10 Wall., 604). ' ' T h a t the check is drawn upon sufficient
funds in the hands of the drawee^ that they have been set ax^art for its satisfaction,
and t h a t they shall be so applied whencA^er the check is presented for payment. It is
an undertaking that the check is good then and shall continue good, and this agreement is as binding o n t h e bank as its notes of circulation, a certificate of deiDOsit payable to the order of the depositor, or any other obligation it can assume."
No particular form is reqnired for tlie certification. Ordinarily this is doue by
simply writing the word ''good" upou the face of the check, adding thereto the signature or initials of the certifying officer. But any language employed by such officer,
importing that the check is goiod and will be paid, would seem to be sufficient. (See
2 Daniel on Neg. Inst., Sec. 1606.)




COMPTROLLER OF THE CURRENCY.

157

A check being an order for the xiayment of money addressed to a bank or banker, '
it is always presumed to be drawn against funds on deposit therewith. I t is not,
when considered with reference to its purpose, x^resentable for acceptance, but only for
payment—that is to say, payment is the only acceptance which in contemplation of
law enters into the engagement of the parties. Hence, if the payee or holder of the
<3heck presents it with the view of having it certified, instead of paid, he does so at
the peril of discharging t h e drawer. (First Nat. Bank v. Leach, .^>2 N. Y., 353.)
In Security Bank v. National Bank, (67 N. Y., 462), the court says: " T h e manifest
•object of a certification is to indicate the assent of the certifying hank to the request
of the draiver of the check that the drawer ivillpay to the holder the sum mentioned; and
this is what an accex')tor does by his acceptance of a bill." Whether such assent is
indicated by writing the word "good^' or the word "accepted" upon the check can
make no difierence as between the holder of the check and the bank, the obligation
iissumed by t h e latter is precisely the same in either case; and thus the legal effect of
marking a check "accex)ted" being the same as marking it "good," the employment
of the former expression may, equally with t h a t of the other, well be deemed to imX^ort a certification thereof. Agreeably to this view, the acceptance o f a check, other
than for immediate pajnnent, is not.legally distinguishable from its certification. In
fact and efiect'the words are equivalents; they are for the same forbidden xiurpose to
"produce the same forbidden results.
The aim of the statute, in xirohibiting the certificationof checks by national banks
where the amount thereof is not On deposit to the credit of the drawer, is obviously
tox'>i'Ovide a guard against the risks and evils attending such pledging of their credit
without adequate security. The mischief sought to be avoided is the incurring of
liahilities by these banks on checks drawn upon, them without safficient funds; and
inasmuch as the liability is the same whether the check be marked by the bank
•"accepted" or simply "good," either of these modes of incurring it would seem to be
sufficient to bring the case within the prohibition referred to. Each may properly be
regarded as constituting a certification, according, to the meaning and intent of the
statute. To construe otherwise would be to allow a " d e v i c e " to "evade the provision" of the law, and such, too, as by express terms is prohibited and punished.
In answer to the first question I accordinglj^ rej)ly that in my opinion a national
bank cannot legally accej>t checks drawn upon it, where the drawer has not on deposit
therewith the amount stated in the check.
To do so renders the bank subject to certain proceedings on the part of the Comptroller of the Currency (under section 5234, R. S.), and the officer by Avhom the acceptance
is made becomes liable to the penalties provided in the act of July 12, 1882.
The case x)resented in the second question is not, in my opinion, coveredby the provisions of section 5200 Revised Statutes.
The restriction then applies only to liabilities "for money borrowed." The acceptance of a check, where the drawer has no funds on deposit, would be a loan of the
credit ofthe bank, rather than a loan of money, and, if otherwise unobjectionable, it
could not properly be regarded as within the terms of the restriction adverted to.
The third question x^resents the same case in connection with section 5202, Revised
Statutes, which declares that " no association shall at any time be indebted or in any
way liable to an amount exceeding the amount of its capital stock actually x^aid in
a.nd remaining undiminished by losses or otherwise," except on account of demands of
the nature therein described. Liabilities incurred by the acceptance of checks, the
•drawers thereof having at the time no funds on deposit with the bank, do not appear
to fall within any of tlae exceptions enumerated ; and assuming such acceptance to be
lawful, I am of tlie opinion t h a t the limit imposed by section 5202 extends to liabilities
thus incurred, and that the acceptance of checks by a bank, without the existence of
funds on deposit thercAvith, to an amount exceeding in the aggregate the amouut of
its paid-in cax)ital, would be a violation of t h a t section.

Under this oxiinion of the Attorney-Gen eral it will be the duty of
the Comptroller to bring such eAddence as he can obtain by frequent
examinations to the attention of the proper officers, in order that such
violation may be determined by the courts, and the penalty enforced as
provided by the statute.
THE AMOUNT OF THE INTEREST-BEARING- FUNDED DEBT OF THE
UNITED STATES, AND THE AMOUNT HELD BY THE NATIONAL BANKS.

The report for 1881 contained tables exhibiting a classification of the
interest-bearing debt of the United States, and of the bonds held by




158,

REPORT ON THE

FINANCES.

the national banks for a series of years. These tables are again presented, and now exhibit also the amount of the outstanding bonds of
the government, and the amount held by the banks on Noveniber 1st
of the present year.
The most important ox')erations of the Secretary of the Treasury, during the years which followed the close of the war, were the funding of
large amounts of temporary obligations then outstanding of the government chiefiy into six per cent, bonds.
The six per cent, bonds were gradually reduced during the year 1869,
and the seven years following, by payment and refunding, intofiA^eper
cents. The six x)6r cents, together with the five per cents, were subsequently rapidly replaced by four and a half and four per cents, which
were authorized to be issued by the act of July 14, 1870. In the year
1881 all of the unredeemed five and six per cent, bonds, amounting to
$579,560,050, Avere continued, payable at the pleasure of the government, with interest at three and one-half per cent., by agreement with
the holders, and since that time $164,833,200 of these three and onehalf per cent, bonds have been paid, and during the present year
$259,370,500 have been replaced by three per cents, under the a@t of
June 12, 1882.
The following table exhibits the classification of the unmatured interest-bearing bonded debt of the United States* on August 31, 1865^
Avhen the public debt reached its maximum, and on the 1st day of July
' of each year thereafter, together with the amount outstanding on November 1 of the present year:
Six p e r c e n t ,
bonds.

F i v e p e r c e n t . .Four a n d a balft F o u r p e r cent,
bends.
p e r cent, bonds.I
bonds.

$908, 518, 091
1, 008, 388, 469
1,421,110, 719
1, 841, 521, 800
1, 886, 341, 300
1, 764, 932. 300
1, 613, 897, 300
1,374,883,800
1, 281, 238, 650
213, 624, 700
100, 865. 550
984, 999, 650
854, 621, 850
738, 619, 000
310, 932, 500
235, 780, 400
196, 378, 600
Continued at
3^ p e r c e n t .
58, 957,150

$199, 792,100
198, 528, 435
198, 533, 435
221, 588, 400
221, 589, 300
221, 589, 300
274, 236, 450
414, .567, 300
414, 567, 300
510, 628, 050
607,132, 750
711, 68.5, 800
703, 266, 650
703, 266, 650
- 646,905,500
484, 864, 900
439, 841, 350
Continued at
3^ p e r c e n t .
401, 503, 900
155, 356, 350 )
3 per cents. >
246,138, 850 )

Date.

Aug.
Jnlv
July
July
July
July
July
July
Julv
July
July
July
July
July
July
July
July

31,1865.
1,1866.
1,1867.
1,1868.
1,1869
1,1870
1,1871.
1,1872.
1,1873.
1,1874
1,1875
1,1876,
1,1877.
1,1878.
1,1879
1,1880
1,1881

July

1,1882

N o v . 1,1882

< 3 per cents.
(
13, 231, 650

Totai.

$98, 850, 000
679,878,110
739, 347, 800
739, 347, 800

$1,108, 310, 191
1, 206,916, 904
1, 619,644,154
2, 063.110, 200
2,107, 930, 600
1, 986,521, 600
1,888, 133, 750
1, 780,451,100
1,695, 805, 950
1, 724,252, 750
1, 707,998, 300
1, 696,685,450
i; 696,888, 500
1, 780,735, 650
1, 887,716,110
1, 709,993,100
1, 625,567,750

250, 000, 000

739, 349, 350

1,449,810,400

250, 000, 000

739, 353, 350

1,404,080,200

$140,
240,
250,
250,
250,

000,
000,
000,
000,
000,

000
000
000
000
000

The operations ofthe Treasury Department for a series of years haA^e
largely reduced the amount of interest receivable by the national banks
on the bonds held by them. During the present year, ending November 1, the three and one-half ^er cents bave been reduced more than
t V hundred millions ($200,769,200), and $179,685,550 of three per cents
AO
have been deposited in place thereof.
Sixteen years ago the banks had on dexiosit as security for circulation, 327 millions in United States bonds, of which amount 241 millions
bore interest at six per cent, and 86 millions at five xier cent. These
*The Navy pension fund, amounting to $14,000,000 in three per cents, the interest
upon which is axiplied to tXie payment of naval x^ensions exclusiA^ely, is not inchided
in the table.



159

COMPTROLLER OF THE CURRENCY.

bonds have now entirely disappeared from the list of secuiities held by
the national banks. The aA-erage rate of interest now paid by the
United States on the bonds deposited as security for circulating notes
is about 3.5 per cent, upon their par value ^ but is equal to about 3.26
per cent, only of the current market value of the bonds. The banks
now hold 33 millions of four aud one-halfs; nearly 105 millions of fours;
40 millions of three and one-half per cents converted from five and six
per cents, and 179 millions of three per cents, which have been refunded
from three and one-half per cents, during the present year. This will
be seen from the following table, which exhibits the amount and classes
of United States bonds owned by the banks, including those X)ledged as
security for circulation and for public deposits on the first day of July
in each year since 1865, and upon November 1 of the present year.
U n i t e d S t a t e s b o n d s b e l d as s e c u r i t y for c i r c u l a t i o n .
Date.
6 percent,
bonds.

5 p e r cent,
bonds.

4^ p e r c e n t , 4 p e r cent,
bonds.
bonds.

Total.

United
States
b o n d s held
for o t b e r
purposes
at nearest
date.

Grand
total.

J u l y 1,1865.. -. $170, 382. 500 $65, 576, 600
$235, 959,100 $155, 785, 750 $391, 744, 85ft
J u l y 1,1866
241, 083. 500 86, 226, 850
327, 310, 350 121,152, 950 448, 463, 300
J u l y 1,1867
251, 430, 400 89, 177,100
340, 607, 500 84, 002, 650 424, 610,15ft
250, 726, 950 90, 768, 9.50
J u l y 1,1868
341,495, 900 80, 922, 500 422, 418, 40ft
J u l y 1 , 1 8 6 9 . . . . 255,190, 350 87, 661, 250
342, 851, 600 55,102, 000 397, 953, 600
247, 355, 350 94, 923, 200
J u l y 1,1870
342, 278, 550 43, 980, 600 386, 259,150
J u l y 1,1871
220, 497, 750 139, 387, 800
359, 885, 550 39, 450, 800 399, 336, 35ft
J u l y 1,1872
173, 251, 450 207,189, 250
380, 440, 700 31, 868, 200 412 308 900
160, 923, 500 229, 487, 050
J u l y 1,1873
390, 410, 550 25, 724, 400 416,134,15ft'
154, 370, 700 236, 800, 500
391, 171, 200 25, 347, 100 416, 518, 300
J u l y 1,1874
136, 955,100 239, 359, 400
J u l y 1,1875
376,314,500 26, 900, 200 403, 214, 700
109, 313, 450 232. 081. 300
J u l y 1,1876
341, 394, 750 45, 170, 300 '386, 565, 05ft
87, 690, 300 206, 651, 050 $44, 372, 250
J u l y 1,1877
338, 713, 600 47, 315, 050 386, 028, 65ft
82, 421, 200 199, 514, 550 48, 448, 650 $19,162, 000 349, 546, 400 68, 850, 900 418. 397, 300
J u l y Ij 1878
56, 042, 800 144, 616, 300 35, 056, 550 118, 538, 950 354, 254, 600 76, 603, 520 430, 858,12ft
J u l y 1,1879
58, 056,150 139, 758, 650 37, 760, 950 126, 076, 300 361, 652, 050 42, 831, 300 404, 483, 35ft
J u l y i; 1880
61, 901, 800 172, 848, 350 32, 600, 500 93, 637, 700 360,488, 400 63, 849, 950 424, 338, 35ft
J u l y l , 1881
Continued Continued
a t 3§ p e r
a t 3^ p e r
cent.:
cent.:
J u l y 1,1882
25,142, 600 202, 487, 650 32, 752, 650 97, 429, 800 357,812,700 ' 43,122,550 40ft, 985, 2^ft
C 2,101,200 38, 505, 750
N o v . l ; 1882
<3 p e r c e n t s : 3 p e r c e u t s : 133, 754, 650 104, 917, 500 358, 964, 650 37, 563, 750 396, 528, 40ft
( 7,788,100 171, 897, 450

...

The banks also held $3,526,000 of Pacific Eailroad six per cents, and
$15,000 of five per cents upon which interest has ceased.
AMOUNT OF UNITED STATES BONDS HELD BY THE NATIONAL BANKS,
BY BANKS OROANIZED UNDER STATE LAWS, AND BY P R I V A T E
BANKERS.

The amounts of United States bonds held by the national banks on
November 1, 1880, 1881, and 1882, were, respectively, $403,-369,350,
$426,120,950, and $396,528,400.
In the following table these amounts have been combined with the
aA-erage amount of United States bonds held by the savings banks. State
banks and trust companies, and private bankers of the country during
the six months ending May 31 of the same years :
• •
National banks
SaviniiS b a n k s
-.
...
S t a t e b a n lis ond t r u s t c o m p a n i e s
Totals




1880.

1

1881.

$403, 369, 350
189,187,816
24, 498, 604
14, 366, 684

$426,120, 950
214,880,178
21, 650, 668
16, 670, 494

631,422,454

679,322,290

1882.
$395,
242,
23,
14,

057, 500
028; 782
211, 43ft
870, 745

675,168, 45T

160

REPORT ON T H E FINANCES.

The interest-bearing funded debt of the United States was, on November 1 last, $1,418,080,200. The total amount of bonds held by all the banks
and bankers in the country as given above was $675,168,457, which is
not greatly less than one-half of the interest-bearing debt. The aniounts
for the banks other than national have been obtained from the semiannual reports made by them to the Gommissioner of Internal Eevenue,
for purposes of taxation. The table given below has also been compiled
from these rexiorts, and shows, by geograxihical divisions, the aA-erage
amount invested by State banks, private bankers, trust companies, and.
savings banks in United States bonds, for the six months ending May
31 for the four years named:
A m o u n t invested in United States bonds.
By State banks,
private bank^ ers, and t r u s t
companies.

Geograpbical divisions.

M a y 31, 1879:
N e w E n ""land S t a t e s
.
Middle States . .
.
Southei'n S t a t e s
W e s t e r n States
Pacific S t a t e s a n d T e r r i t o r i e s '.

.$3,
25,
3,
8;
5,

Total.

.

...

United States
...
•

United States
M a y 31, 1882:
N e w England States
Middle States
Southern States
Western States
Pacific S t a t e s a n d T e r r i t o r i e s
United States

$34, 941, 378
123, 818,148
86, 021
2,164, 668
1, 372, 8.45

$38, 611, 345
149, 504, 617
3, 679, 200
10,491 070
6, 388, 793

162, 383, 060

208, 675, 025

3, 737,
20, 564,
2, 541,
8,137,
3, 883,

093
834
991
554
816

37, 69?, 200
146, 301,155
1, 000
2, 474, 557
2, 717, 904

41, 430, 293
166 865 989
2, 542, 991
10, 612, 111
6, 601, 720

38, 865, 288

United States

669, 967
686, 469
593,179
326, 402
015, 948

46, 291, 965

.

M a y 31, 1880:
N e w England States
.
Middle States
Southern States
W e s t e r n States
Pacific S t a t e s a n d T e r r i t o r i e s

M a y 31, 1881:
N e w England States
.'.
Middle States
Soutbern States
W e s t e r n States
Pacific S t a t e s a n d T e r r i t o r i e s

By savings
' banks.

189,187,816

228, 053,104

2, 985, 496
21, 908, 703
1, 707, 702
6, 734, 948
4, 984, 313

36, 640, 795
168, 617, 049
21, 689
2, 689, 447
6, 911,198

39,
190,
1
9,
11,

38, 321,162

214,880,378

253, 201, 340

2,
20,
1,
7,
5,

37, 046, 625
189, 775, 842
2, 354, 710
.12, 851, .605

39, 691, 520
210, 352, 665
1,862 946
9, 454, 584
18, 749, 242

242,'ft28, 782.

280,110,957

644,
576,
862,
099,
897,

895
823
946
874
637

38, 082,175

626, 291
525, 752
729 391
424, 395
895, 511

The above table gives the average amount of caxiital invested in
United States bonds, from which should be deducted the amount of
premium paid at the time of purchase, Avhich cannot be ascertained.
Through the courtesy of State officers the Comptroller has obtained
the official rexiorts made to them, under State laws, by State banks in
twenty-one States, by trust companies in fiA^e States, and by saAdngs
banks in. fifteen States, at different dates during the year 1882, and from
these returns the following table has been compiled:
Held by State banks in twenty-one States
Held by trust coinpanies in five States
Held by savings batiks in fifteen States
Total




:

|H, 7.39,172
16, 934,812
237,786, 442
263,460,426

161

COMPTROLLER OF THE CURRENCY.

The amount held by geographical divisions during the years 1880,1881,
and 1882, was as follows:
- Geograpbical divisions.
Eastern States
Middle States
Soutbern States
Western States
Pacific States

1880.

1881.

1882.

Total

$40, 468, 340
176, 373, 889
1, 073, 460 •
5,735,518
14, 874, 332

$42, 667, 248
197,135, 239
268, 350
3, 369 414
20, 020,175

213, 665, 402

'

$45, 230, 098
157, 563, 757
958, 470
2, 672, 242
7, 240, 835

238, 525, 539

263, 460, 426

The amounts of United States bonds held, as shown by the tables
compiled from returns made by State banks, trust companies, and sav-.
ings banks to State officers, in twenty-one States and Territories were,
in 1882, $16,650,531 less than the average amount shown by the table*
compiled from the rexiorts made to the Commissioner of Internal Eevenue, which were received from similar institutions.
The first-named table shows the actual amounts held at A^arious dates
in 1882, while the last gives the average amount held for the six mouths
ending May 30, 1882. Although obtained from different sources and
based on data that are not equally complete, the amounts obtained from
the one source serA^e to corroborate those obtained from the other.
NATIONAL BANK F A I L U R E S .

Three national banks have been xilaced in thehands of receivers during theyear ending ISToA^ember 1,1882, namely: The Mechanics' National
Bank of Newark, N. J., on November 2, 1881; the Pacific National
Bank of Boston, Mass., on May 22, 1882, and the First National Bank
of Buffalo, N. Y., on April 22,1882. The suspension of the first-named
two banks was mentioned in the report of the Comptroller for the year
ending November 1, 1881, and the causes Avhich led to both these fail
ures Avere then fully discussed. The directors of the Pacific National
Bank of Boston undertook to make good the impairment of its capital stock in the manner authorized by section 5205 of the Eevised Statutes, but, as they failed to do so within thetime fixed by law, a receiver
was appointed to take charge of its affairs. The failure of the First
National Bank of Buffalo was the result of the misappropriation of its
funds by its president. Its condition was discovered by the bank examiner when making his annual examination, and a receiver was appointed as before stated.
The affairs of ten national banks have been finally closed within the
year. These banks, with the total dividend paid by each to their creditor s^ are as follows:
The
The
Tbe
The
The
The
The
The
The
The

First National Bank of Selma, Ala
First National Bank of New Orleans, La
National Bank of Vicksbnrg, Miss
Ocean National Bank of New York City
First National Bank of Carlisle, Pa
First National Bank of La Crosse, Wis
First National Bank of Wichita, Kans
First National Bank of Greenfield, Ohio
First National Bank of Tarrytown, N. Y
First National Bank of Meadville, Pa

46. 6 i)er cent.
79. 0 per cent.
49. 2 per cent.
100. 0 per. cent, and interest.
73. 5 per cent.
48. 4 per cent.
70. 0 x)er cent.
,. 27. 0 per cent.
90.5 per cent.
100. 0 pev cent, and interest.

The following banks have been closed, with the exception of litigation pending in the courts, and the exxienses of the receiverships, inil F



162

REPORT ON THE FINANCES.

eluding the amounts paid to receivers for personal serA'ices, are in each
case no more than is necessary to carry on the suits. In each of these
instances, if litigation results faA'orably to the banks, some additional
dividends may be paid.
The dividends already paid to the creditors of these associations are
as follows:
The Charlottesville National Bank, Charlottesville, Va
The First National Bank of Norfolk, Va
The First National Bank of Anderson, Ind
The Venango National Bank of Franklin, Pa
The Atlantic National Bank, of New York City
The First National Bank of Mansfield, Ohio
The Miners' National Bank of Georgetown, Colo
The First National Bank of Bedford, Iowa
The City National Bank of Chicago, 111
. The First National Bank of Georgetown, Colo
The First National Bank of Dallas, Tex
The Central National Bank of Chicago, 111
The People's National Bank of Helena, Mont
The First National Bank of AllentOAvn, Pa
The First National Bank of Waynesburg, P a

'.

;

Per cent.
62
49
25
15
95
45
65
12.5
77
22. 5
37
60
40
70
40

If the litigation noAV in progress should result favorably, it is estimated that additional diAridends will be paid as follows: To the creditors of theFirst National Bank, Waynesburg, 25 per cent.5 of the First
National Bank, AllentOAvn, Pa., and First National Bank, Georgetown,
Col., 20 per cent.; the First NationalBank of Mansfield, Ohio, and Miners',
National Bank of Georgetown, CoL, 10 per cent., and to the remaining
banks, dividends less than 5 per cent.
The affairs of the Cook County and Scandinavian National Banks of
Chicago, and of the National Bank of the Stateof Missouri of Saint
Louis also, cannot be closed until pending litigation is brought to a conclusion. Thelatter bank has already paid to its creditors 100per cent,
of the principal of their claims, and more than 50 per cent, of interest
accrued up to December 1, 1882. It is expected that a considerable
portion, though not the whole, of the remaining interest will hereafter
be paid.
^
The First NationalBank of New Orleans has been closed during the
year. The payment of a final dividend had been necessarily postponed
onaccountof delay experienced in adjusting accounts due to and from
the government, but which haveMuring the year been finally settledby
an axipropriation by Congress resulting in a recovery by the bank of
$94,000. The three following banks have paid their creditors the full
amount of their claims, princix')al and interest, and their affairs are still
in the hands of receivers appointed by the Comptroller, who are administrating the remaining assets in the interest of the stockholders :
First National Bank of Newark, N. J
First National Bank of Brattleboro, Vt
Third National Bank of Chicago, 111

100 X3er cent, and interest in full.
100 per cent, and interest in full.
100 per cent, and interest in full.

I t is probable that in each of these cases the shareholders will eventually receive a handsome percentage upon the capital stock ofthe bank.
The following banks in the hands of receivers have paid dividends during the past year. The total dividends u^ to Noveniber 1, 1882, being
also given.
The First National Bank of Selma, Ala., 4.6 per cent.; total, 46. 6 per cent.
The First National Bank of New Oiieans, La., 9 per cent.; total, 79 per cent.
TheNational Bank of Vicksburg, Miss., 13 per cent.; total, 49.2 per cent.



COMPTROLLER OF THE CURRENCY.

163

The Ocean National Bank, New York City. Interest dividend; total, 100 per cent.,
and interest.
The New Orleans National Banking Association, New Oiieans, La., 5 per cent.; total,
60 per cent.
The Charlottesville National Bank, Charlottesville, Va., 7per cent.; total, 62percent.
The First National Bank of La Crosse, Wis., 3. 4 per cent.; total, 48. 4 per cent.
The First National Bank of Greenfield, Ohio, 27 per cent.; total, 27 per cent. .
T h e F i r s t National Bank of Franklin, Ind., 15 per cent, to stockholders ; creditors paid
in fnll.
The National Bank of the State oi" Missouri, Saint Louis, Mo., 5 per cent., and 50 per
cent, of interest; total, 100 per cent., and 50 per cent, of interest.
The Lock Haven National Bank, Lock Ilaven, Pa., 10 pe.r cent.; total, 100 per cent.
Ths Third National Bank of Chicago, 111. Interest in full; total, 100 per cent, and
interest.
*The Commercial National Bank of Ivansas City, Mo., 6.165 per cent, to stockholders ;
total, to stockholders, 37.165.
T h e F i r s t Nati on aJ Bank of Tarrytown, N. Y., 5.5 per cent.; total, 90. 5 per cent.
The l^'i rst National Bank of Allentown, Pa., 20 per cent.; total, 70 per cent.
The People'sNational Bank of Helena, Mont., 10 per cent.; total, 40 i)ercent.
The German Anierican National Bank, Washington, D. C , 10 per cent.; total, 50 per cent.
The Second NationalBank of Scranton, Pa., 50 per cent.; total, 75 per cent.
The First National Bank of Butler, Pa., 20 per cent.; total, 60 per cent.
The First National Bank of Meadville, Pa. Interest in full. 100 per cent, and interest.
The First National Bank of Newark, N. J. Interest in full. 100 per cent, and interest.
The Mechanics' NationalBank of Newark, N. J., 55 per cent.; total, 55 per cent.
The First National Bank of Buffalo, N. Y., 25 per cent.; total, 25 per cent.

Since the commencement of the national banking system 87 banks
have been xilaced in the hands of receivers, and 420 banks have voluntarily closed their business by the votes of shareholders owning
tAvo-thirds of their stock, under the provisions of sections 5220 and
5221 of the EcA^sed Statutes of the United States. Of the banks so
Xilaced in A^oluntary liquidation by their stockholders, 7 failed to pay
their depositors, and in these cases receivers were appointed by the
Comptroller to wind up their affairs. Of the 87 banks placed in the
hands of receivers, 51 have been finally closed, leaAing 36 still in process of settlement. The loss to creditors of national banks which have
been xilaced in the hands of receiA^ers during the nearly twenty years
that haA^e elapsed since the passage ofthe act of February 25, 1863, as
near as can be estimated, including dividends which will probably be
hereafter paid, has been about $7,000,000. The average annual loss has
been, therefore, about $400,000 in the business of corporations having
an average capital of about $450,000,000, and which have been responsible for the safe keeping of deposits in their hands aA^eraging constantly
over $800,000,000, or about one-twentieth of one x^er cent, of annual
loss to depositors. The time required for liquidating the affairs of insolvent banks depends chiefly upon the amount of litigation which may
arise, as in any case it is impossible to tell in adv^ance what questions it
may become necessaryto refer to the courts for decision. In many of
these cases no conclusion can be reached until the matter has been"
brought before the courts of last resort. The dockets of the supreme
courts in most of the States, and that of the Supreme Court of the
United States, are crowded, and when an axixieal is made to these tribunals, years often elaxise before the case can be reached. Owing, however, to the decisions already made, the forms of procedure, underthe
laws governing national banks, are better understood, andin collecting
assets, in allowing off'sets, and enforcing the liabilities of stockholders,
there is now no inducement to protract litigation, either on the part of
the ordinary debtors of the bank or of the stockholders who become
such debtors when assessed.under their liability, as provided in section
5151 of the Eevised Statutes. In all cases of failure of national banks



•^Creditors paid in full.

164

REPORT ON T H E FINANCES.

there are many clainis presented to the receivers which, for A^arious rea:sons, do not apxiear to be xiroperly liabilities of the association, and, itis
necessary, in order to x>i'otect the interests of the genuine creditors,
that sucli claims should be rejected until their merits havebeen properly
investigated by a court of competent jurisdiction.
The liability of directors for negligent discharge of their duties, or
for malfeasance, is not yet clearly defined by any authoritative decision,
but such decisions as there are bearing upon this matter xioint to a complete remedy against them also. The total amount paid to creditors of
insolvent national banks amounts to $20,945,090; upon proved claims
amounting to $29,586,558. The dividends so far paid thus equal about
70 per cent, of the proved claims. The amount paid during the year
Avas $2,283,392.
Assessments amounting to $8,101,750 haA^e been made uxion the stockholders of insol A^erit national banks for the purxiose of enforcing their iiidiAidual liability under section 5151 of the Eevised Statutes, of Avliich about
$3,200,000 have been collected and $534,080.70 during the past year.
A table shoAving the national banks which haA^e been xilaced in the
hands of receivers, the amount of their capital, of claims xiroved, the
rates of dividends paid, and also showing the amount of circulation of
such banks issued, redeemed, and outstanding, will be found in the AxiXiendix.
LOANS AND RATES OF I N T E R E S T .

The folloAving table gives the classification of the loans of the banks
in the city of NCAY York, in Boston, Philadelphia, and Baltimore, and
in the other reserve cities, at corresponding dates in each of the last
three years:
OCTOBER 1, 1880.

Classification.

New Tork
City.
47 b a n k s .

Boston, P h i l a O t h e r redelphia, a n d
s e r v e cities.
Baltimore.
101 b a n k s

83 b a n k s .

Countrybanks.

Aggregate.

1.859 b a n k s .

2,090 b a n k s .

$3, 915, 077

$525, 445

$1, 378,168

$5, 818, 690

92, 630, 982

30, 838, 692

16, 558, 260

140, 027, 934

27, 7.55,152
114,127, 290

22, 542, 776
137, 405, 246

10, 402, 295
• 75,687,334

$503, 294, 724

Totals

238, 428, 5Q1

191, 312,159

104, 026, 057

503, 294, 724

1, 037, 061, 441

•

48 b a n k s

87 b a n k s .

1,895 b a n k s .

2,132 b a n k s .

O B U . S . b o n d s on d e m a n d
On o t h e r s t o c k s , b o n d s , &c.,
On s i n g l e - n a m e p a p e r w i t h o u t

p

,

,

1

.60, 700, 223
830. 514. 594
,

,

OCTOBER 1, 1881.
Classification.

102 b a n k s .

•

On IT. S. b o n d s on d e m a n d
On o t h e r s t o c k s , b o n d s . S e c ,

$2, 539, 928

$415,164

$468, 496

$2, 661, 256

$6, 084, 844

97, 249,162

39, 251, 526

24, 227,158

35, 423, 896

196,151, 742

26, 935, 878
120, 032, 691

34, 465, 661
137, 682, 302

12,904,338
96, 806, 506

73,114, 405
464, 843, 937

147,420,282
819, 365, 436

246, 757, 659

211, 814, 653

134, 406, 498

576, 043, 494

1,169, 022, 304

91 banks.

2, 026 banks.

2, 269 banks.

On s i n g l e - n a m e p a p e r w i t h o u t
A n ftthftr l o a n s
Totals

OCTOBER 3, 1882.
Classification.
On TJ. S. bonds on demand
On other stocks, bonds, &c., on
demand
On single-name paper without
other security
All other loans
Total




50 banks.

102 banks.

$1, 618, 687

$265, 357

$1, 532, 214

$1,851,550

$5, 267, 808

89, 532, 760

31, 653, 098

22,143, 725

39, 554, 649

182, 884, 232

21, 382, 572
126, 507, 873

26, 721, 688
143, 297, 359

16,075,330
•106, 531,193

83, 576, 480
526, 041, 981

147, 754, 806
902, 379,670

239, 041, 892

201, 937, 502

146, 282, 462

651, 024, 660

1, 238, 286, 516

165

COMPTROLLER OF THE CURRENCY.

In the table below is given a full classification of the loans in New
York City alone for the last five years:
O c t o b e r 1,
1878.

O c t o b e r 2, '
1879.

O c t o b e r 1,
1880.

O c t o b e r 1,
1881.

O c t o b e r 8,
1882.

47 b a n k s .

47 b a n k s .

47 b a n k s .

,48 b a n k s .

50 b a n k s .

$83,924,333
17, 297, 475
7, 003, 085
51,152,021
786, 514
6, 752,181
2, 670, 371

$81,
22,
8,
78,

$112,
26,
2,
97,

049, 004
935, 878
539, 928
249,162
236,100

$118, 692, 651
21, 203, 573
1, 797, 687
89, 532,762
304, 732

4, 821, 216

5,731,917

7, 747, 587

7, 600, 487

169, 585, 980

195, 851, 902

238, 428, 501

246, 757, 659

239, 041, 892

Loans and discounts.

On i n d o r s e d p a p e r
On single-name p a p e r
Ou U . S. b o n d s o n d e m a n d . . .
On o t h e r s t o c k . Sec, o n d e m a n d
O n real-est a t e s e c u r i t y
P a y a b l e in gold
All other loans
Totals

520,129
491, 926
286, 525
062, 085
670, 021

$107,
27,
3,
92,
1,

058, 860
755,152
915, 077
630, 982
336, 513

The attention of Congress has xireviously been called to section 5200
of the Eevised Statutes, which places restrictions uxion loans, and to the
difficulty of enforcing its x^i^OA^isions. In cities where large amounts of
Xiroduce are received and stored, it is represented that it is impossible
for the banks to transact this class of business, if restricted to loans for
an amount not exceeding in any instance one-tenth of their caxiital. I t
is true that the limitation does not apply to loans upon produce in transit,
Avhere the drafts are draAvn on existing values; but if produce is stored,
instead of being shipped, large loans cannot be made except in Adolation
of law. In such case the Comptroller has no means of enforcing the law,
except by bringing a suit for forfeiture of charter, and this course might
result in great embarrassment to business, as AA^CII as loss to many innocent stockholders of the banks. It is CAndent that the laAv should be so
amended as to exclude from the limitatioii mentioned legitimate loans
upon produce or warehouse receipts, and some other classes of collateral security, as well as loans uxion IJnited States bonds.
K.\TES OF

I N T E R E S T I N NEAV YOKK C I T Y , A N D I N T H E BANK O F E N G L A N D AND T H E
BANK O F F R A N C E .

The aA-erage rate of interest in New York City for each of the fiscal
years from 1874 to 1881, as ascerta.ined from data derived from the Journal of Commerce and The Commercial and Financial Chronicle, Avas as
follows:
1874, call loaiis, 3.8 pev cent.; commercial paper, 6.4 per cent.
1875, call loans, 3.0 per cent.; commercial pax:)er, .5.8 pev cent.
1876, call loans, 3.3 per cent.; commercial paper, 5.3 per ceut.
1877, call loans, 3.0 per cent.; commercial paper, 5.2 pev cent.
1878, call loans, 4.4 per cent.; commercial paper, 5.1 pev cent.
1879, call loans, 4.4 per cent.; commercial paper, 4.4 per cent.
1880, call loans, 4.9 per cent! ; commercial paper, 5.3 pev cent.
1881, call loans, 3.8 per cent. ; commercial paper, 5.0 per cent.
188:2, call loans, 4.4 pev cent.-; commercial paper, 5.4 pev cent.

The average rate of discount of the Bank of England for the same
years Avas as follows:
Dnring tlie
During the
Dnring the
Dnringthe
Dnring the
During the
Dnring the
Dnring the
Dnring tlie

calendar year ending December 31, 1874, 3.69 per cent.
calendar year endmg December 31, 1875, 3.23 per cent.
calenclar year ending December 31, 1876, 2.61 per cent.
calendar year ending December 31. 1877, 2.91 x^ercent.
calendar year ending December 31, 1878, 3.78 per cent.
calendar year ending December 31, 1879, 2.50 per ceut.
calendar year ending Decemher 31, 1880, 2.76 per cent.
calendar year euding Decemher 31, 1881, 3.49 per cent.
fiscal year ending June 30, 1882, 4.01 pev cent.
* From the Financial Chronicle only.
*




166

REPORT ON THE FINANCES.

In the calendar year ending December 31, 1881, the rate of discount
of the Bank of England was increased four times, and only twice reduced. During the fiscal j^ear ending June 30, 1882, the rate was
increased four times and decreased three times. The present rate is 5
Xier cent.
The rate of interest in the city of New York on ]S ovember 28 was, on
call loans, from 4 to 7 per cent., and on comraercial paper from 7 to 8
Xier cent.
SPECIE IN BANK AND IN THE TREASURY OE THE UNITED STATES, AND
ESTIMATED AMOUNT IN THE COUNTRY—SPECIE IN THE BANK OF
ENGLAND AND IN THE BANK OF FRANCE.

The folloAviug table exhibits the amounts of specie held by the national
banks at the dates of their reports for the last ten years, the coin and
coin certificates held by the New York City banks being stated separately :
H e l d b y n a t i o n a l b a n k s in N e w Y o r k C i t y .

Dates.

Oct. 3,1872..
Dec. 27,1872..
F e b . 28,1873-.
A p r . 25,1873..
J u n e 13,1873..
S e p t . 12,1873..
Dec. 26,1873..
F e b . 27.1874..
M a y 1,1874.-,
J u n e 26,1874..
Oct. 2,1874..
Dec. 31,1874-.
M a r . 1,1875-.
M a y 1,1875.,
J u n e 30,1875..
Oct. 1,1875.
Dec. 17,1875..
M a r . 10,1876.
M a y 12,1876.
J u n e 30,1876..
Oct. 2,1870..
Dec. 22,1876.
J a n . 20,1877.
A p r . 14,1877.
J u n 6 22,1877..
Oct. 1,1877.
Dec. 28,1877.,
M a r . 15,1878.,
M a y 1,1878.,
J u n e 29,1878.
Oct.
1,1878.,
Dec.
6,1878.,
J a n . 1,1879.,
A p r . 4,1879.,
J u n e 14,1879.,
Oct. 2,1879.,
Dec. 12,1879-.
F e b . 21,1880..
A p r . 23,1880-.
J u n e 11,1880..
O c t . 1,1880..
Dec. 3 L 1 8 8 0 . .
M a r . 11,1881..
M a y 6,1881..
J u n e 30,1881..
Oct. 1,1881-.
Dec. 31,1881..
M a r . 11,1882.M a y 19,1882.J u l y 1,1882..
Oct. 3,1.882..

V . S.
Clearing house
gold cercertificates,
titicates.

$920, '67 37
1, 306,091 05
1, 958,709 86
1, 344,950 93
1, 442,097 71
1, 063,210 55
1, 376,170 50
1,167, 820 09
1, 530,282 10
1, 842,525 00
1, 291,786 56
1, 443,215 42
1, 084,555 54
930, 105 76
1, 023,015 86
753, 904 90
869 436 72
3, 261,131 36
832, 313 70
1, 214,522 92
1,120, 814 34
1, 434,701 83
1, 069,284 94
1, 930,725 59
1, 423,258 17
1, 538,486 47
1, 955,746 20
2, 428,797 44
2, 688,092 06
1, 905,705 22
1, 779,792 43
4, 00.9,299 01
.5, 421,552 49
5, 312,966 90
6, 058,472 34
7, 218,967 69
20, 096, 249 64
12,252, 541 44
12, 595, 720 49
16, 682, 226 40
16,104, 855 28
19, 773, 859 01
15, 924, 683 90
26, 242,108 60
20, 822,790 87
15,317, 168 04
1,5, 739,080 49
16, 243, 657 39
14, 708,986 93
13,708, 690 77
13, 265, 303 74




$5, 454, 580
12, 471, 940
11, 539, 780
11, 743, 320
22,139, 080
13, 522, 600
18, 325, 760
23, 518, 640
23, 454, 660
13, 671, 660
13,114, 480
14, 410, 940
10, 622,160
5,753,220
12, 642,180
4, 201, 720
12, 532, 810
19, 086, 920
1.5,183, 760
16, 872, 780
13, 446, 760
21, 602, 900
33, 629, 660
13, 889, ISO
10,324,320
11, 409, 920
1.9,119, 080
35, 003, 220
25, 397, 640
11, 954, 500
11,514,810
12, 277,180
12, 739, 544
12, 220, 940
12, 291, 270
12,130, 900
8, 366,140
7, 404, 650
6, 914, 250
7. 810, 200
7, 489, 700
6, 709, 900
4, 825, 300
4, 625, 900
4, 513, 400
4, 486, 600
4, 037, 600
4, 075, 800
4, 034, 300
4, 005,100
3, 908,100

TotaL

j
Held by
I other natioual
;
banks.

,
$6, 375, 347 37
,031 05
13, 778,
1.3,498, .541 86
,259 93
13, 088,
,177 71
23, 581,
,810 55
14, 585,
19,701,,930 50
,460 09
24, 686,
,942 10
24, 984,
,185 00
15, 514,
14, 406, 266 56
,155 42
15, 8.54,
11,706,,715 54
,325 76
6, 683,
,195 86
13, 665,
,624 90
4, 955,
,246 72
13, 402,
,051 36
22, 348,
,073 70
16, 016,
,302 92
18, 087,
,574 34
14, 576,
,601 83
23, 037,
,
35, 298, 944 94
,905 59
15, 829,
,578 17
11, 747,
,406 47
12, 948,
,826 20
21, 074,
37, 432, 017 4428, 085,732 06
13,860,,205 22
13, 294,602 43
10, 286,4-; 9 01
1.8,161, 092 49
,906 90
17, 533,
18,349, 742 34
,867 69
19, 349,
,389 64
$21,569, 000 00 50, 031,
35,855, 000 00 55, 572, 19144
,970 49
25, 458, 000 00 44, 967,
33, 337,000 00 57. 829, 426 40
,555 38
36,189, 000 00 59, 783,
28, 246, 000 00 54, 729, 759 01
30, 809, 000 00 51,558, 983 90
34,176. 000 00 65,044, 008 60
41, 858, 000 00 67,194. 190 87
31, 721,000 00 51, 524,768 04
33, 852,000 00 53, 628, 680 49
29, 907,OOC 00 50, 226,457 39
31, 783, 000 00 50, 526, 286 93
32, 854, 000 00 50, 567,790 77
26, 224,000 00 43, 397, 403 74

Aggregate.

$3, 854,409 42 $10, 229, 756 79
5, 269,305 40 19,047, 336 45
4, 279,123 67 17, 777,673 53
3, 780,557 81 16, 868,808 74
4, 368,909 01 27, 950, 086 72
5, 282,658 90 19, 868,469 45
7, 205,107 08 26, 907,037 58
8, 679,403 49 33, 365, 863 58
969 20
7, 585,027 16 j 32, 569,
6, 812,022 27 ' 22.326,207 27
945
6, 834,678 67 I 21, 240, 23
6, 582, 605 62 22, 436, 761 04
4, 960,390 63 16, 667,106 17
3, 937,035 88 10, 620,.361 64
5, 294,386 44 18, 959, 582 30
8, 050,329 73
3, 094,704 83
3, 668,659 18 17, 070, 905 90
6, 729, 294 49 29, 077, 345 85
5, 098, 520 66 21,714, 594 30
7,131,167 00 25, 2.18,469 92
6, 785,079 69 21, 361, 654 03
9, 962,046 06 32, 999, 647 89
14, 410,322 61 40, 709, 267 55
11, 240, 132 19 27, 070, 037 78
9, 588.417 89 21, 33.5,996 06
9, 710,413 84 22, 658,820 31
11, 832, 924 50 32, 907,750 70
17, 290,040 58 54, 722,058 02
17,938, 024 00 46, 023,756 06
15, 391, 204 55 29, 251,469 77
17, 394, 004 16 30, 688,606 59
18, 068, 771 35 34, 355,250 36
23, 338, 664 83 41, 499, 757 32
23, 614, 056 51 41,148, 563 41
23, 983, 545 10 42, 333, 287 44
22, 823, 873 54 42,173, 731 23
28, 981, 651 95 79, 013, 041 59
33, 869, 860. 31 89, 442,051 75
41, 461, 761 72 80, 429, 732 21
41, 677, 078 86 99, 506,505 26
49, 562, 954 11 109, 346,509 49
52, 443, 141 91 107,172, 900 92
"53, 597,211 36 10.5,156, 195 26
57, 584,553 48 122, 628, 562 08
61,444, 736 63 128, 638, 927 50
62, 809. 968 08 114. 334,736 12
58, 908,719 11 1121537, 399 60
" 782,
"
OSI 0 4
58, 555, 573 65
60, 687,499 80 111, 213,786 73
60, 272,431 77 110, 840,222 54
57, 652,774 53 101, 050, 178 27

167

COMPTROLLER OF THE CURRENCY.

The national banks held sih-er coin amonnting, on October 1,1877, to
$3,700,703, and on October 1, .1878, to $5,392,628. On October 2, 1879,
the amonnt held was $4,986,493, and on October 1, 1880, it was
$6,495,477, including $1,165,120 in sih-er treasnry certificates, and on
October 3, 1882, it was $8,273,815, inclnding $1,807,600 of silver certificates. On October 1, of the present year, the oflBcial reports of the State
banks in New England, New York, Pennsylvania, Maryland, Lonisiana,
Ohio, Indiana, Iowa, Wisconsin, Missouri, and Minnesota show that
these banks then held specie amounting to $7,140,867, of which the banks
in New York City held $3,484,913. The official returns from the State
banks of Califoruia do not give separately the amount of coin held by
them; but it is estimated that ofthe total cash reported, amounting to
$10,542,859, $10,060,622 consisted of coin. The amount of coin held by
State banks in the States before mentioned, including California, was,
therefore, $17,201,489.
The Director of the Mint, in his rexiort for 1881, estimates the amount
of coin in the country on June 30, 1880, at $501,555,711, of which
$358,958,691 was gold and $142,597,020 was silver. His estimate for
the fiscal year ending June 30, 1882, is as folloAvs:
Gold.

U n i t e d S t a t e s coin.
C i r c u l a t i o n J u n e 30, 1881
C o i n a g e for t h e y e a r , less d e p o s i t s fbr r e c o i n a g e .
E x c e s s of e x p o r t s o v e r i m p o r t s
,

Silver.

$439, 774, 753
88, 814, 091

$171,459,766
27, 655, 816
517,778

Total.
$611,236,519
116, 469, 907
517,778

Total
L e s s e x c e s s of exj)orts o v e r i n i p o r t s .

528, 590, 844
25, 008, 659

199, 633, 360

728, 224, 204
25, 008, 659

Remainder
L e s s a m o u n t s used in t h e a r t s .

503, 582,185
2, 700, 000

199, 633, 360
60, 000

703,215,545
2, 760, 000

C i r c u l a t i o n J u l y 1, 1882.

199, 573, 360

700, 455, 545

From July 1, 1882, to November 1, the Director estimates that there
was added to the coin $15,306,491 of gold and $8,738,472 of silver, making the stock of coin in the country at the latter date $724,500,508, of
which $516,188,676 was gold and $208,311,832 was silver.
The amount of bullion in the mint and in the New York assay office
on November 1 is stated tohavebeen $50,916,780 of gold and $4,012,503
of silver, making in all $54,929,283; which, added to the estimated amount
of coin stated above, gives $779,429,791, of which amount $567,105,456
Avas gold and $212,324,335 was silver.
The folloAving table shows the amount of gold and silver, including
the amount held to protect gold and silver certificates, and the xiercentage of each, in the Treasury of the United States, on September 30 of
. each year from 1876 to 1882, and on November 1, 1882 :
Silver.

P e r c e n t of—

Period.
Standard
dollars.
Sept. 30,1876..
Sept. 30 1877
S e p t . 30,1878..
;Sept.30,1879..
S e p t . 30,1880-.
•Sept. 30,1881..
S e p t . 30,1882-IN-ov.l, 1 8 8 2 . . .

o t h e r coin
a n d bullion.

$12,155, 205
31, 806, 774
47, 784, 744
66, 092, 667
92, 228, 649
92, 414, 977

$6, 029, 367
7, 425, 454
15, 777, 937
21,173,023
. 30, 878, 286
28, 945, 297
30, 769, 705
30, 761, 935




T o t a l silver.
$6, 029, 367
7, 425, 454
27, 933,142
52, 979, 797
78, 663, 030
96, 037, 964
122, 998, 354
123,176, 912

Gold coin
a u d bullion.

T o t a l coin
a n d bullion.
Silver.

.$55, 423, 0.59.
107, 039, 529
136, 036, 302
169, 827, 571
135, 641; 450
174, 361, 343
152,739,106
159,805,744

$61,452,426
114, 464, 983
163, 969, 444
222; 807, 368
214, 304, 480
269, 399, 307
275, 737, 460 •
282, 982, 656

9.8
6.5
1-7.0
23.8
36.7
35.3
44.6
43.5

Gold.

90.2
93 5
83.0
76.2
63.3
64.7
55.4
56.5

168

REPORT ON T H E

FINANCES.

The bulhon in the Bank of England for each year from 1870 to 1882,
is shown in the following table, the pound sterling being estimated at
fiA^e dollars:
1870
1871
1872
1873
1874
1875
1876

1103,900,000
117, 950, 000
„ 112,900,000
113,500,000
111,450,000
119,600,000
143,500,000^

1877
1878
1879*
18801*
18811
18821

../.
;

1126,850,000
119,200,00.0
150,942,980
141,637,000
115,221,870
108,689,912

Below is a similar table, giving the amount of gold and silver, and
the percentage of each, in the Bank of France, on December 31 of each
yearf from 1870 to 1881, and on November 2, 1882, five francs being
estimated at one dollar:
Per cent o—
f
Years.

Silver coin
and bullion.

Giold coin
a n d bullion.

Total.
Silver.

December 31,1870
December 31,1871
December 31,1872
December 31,1873
December 31,1874
Deceraber 31,1875
December 31,1876
December 31,1877
December 31,1878
December 31,1879
December 31,1880
Deceraber 31,1881
November 2,1882.

$13, 700. 000
iv, 240, 000
26, 520, 000
31, 260, 000
62, 640, 000
101, 000, 000
127, 720, 000
173, 080, 000
211, 620, 000
245, 5"i0, 000
244, 360, 000
231,180, 000
223,136, 000

$85, 740,000
110, 680, 000
131, 740, 000
lk52, 260, 000
204, 220, 000
234, 860, 000
306, 080, 000
235, 420, 000
196, 720, 000
148, 320, 000
110,480,000
129,160, 000
194, 314, 000

$99, 440, 000
126, 920, 000
158, 260, 000
153, 520, 000
266, 860, 000
335, 860, 000
433, 800, 000
408, 500, 000
408, 340, 000
393, 840, 000
354, 840, 000
360, 340, 000
417, 450, 000

13.8
12.8
16.8
20.4
23.5
30.1
29.4
42.4
51.8
62.3
68.9
64.2
53.5

Gold.
86.2
87.2
83.2
79.6
76.5
69.9
70.0
57.6
45.2
37.7
31.1
35.8
46.5

TRANSACTIONS OF THE NEAV YORK C L E A R I N a HOUSE.

The New York Clearing House Association is comxiosed of forty-scA^en
national and fourteen State banks, and the assistant treasurer of the
United States at New York.
Through the courtesy of Mr. W. A. Camxi, its manager, a statement
of the transactions during the year ending October 1, 1882, has been
obtained, Avhich shows that the total exchanges Avere more than
forty-six thousand millions ofdollars, while the balances paid in money
were nearly 1,600 millions. The daily average balances paid A ere someY
Avhat more than $5,000,000, or about 3.4 per cent, of the amount of the
settlements. The balances paid in money during the year consisted of
$1,325,990,000 in clearing house certificates of the Bank of America,
legal tenders amounting to $10,220,245, and $258,550,000 in gold coin,
Aveighing 476J tons. If, instead of gold coin, silver had been used, the
weight would liaA^e been nearly 8,000 tons. Since the date of the issue
of the new gold certificates (October 4), authorized by the act of Jnly 12,
1882, the balances duefrom the government haA^e been paidin these
* London Economist, NoA^ember 8,1879.
t Lonclon Bankers' Magazine, October, 1880,1881, and 1882.
t The Bulletin de Statistique, as quoted in the Bankers' Magazine, New York, vol.
xiii, page 740; except tlie items for 1879-'80 and^81, AA-hich Avere obtained from the
London Bankers' Magazine for August, 1880, page 661, September, 1881, page 716,
and September, 1882, page739, and the last item from The London Economist, NoA^ember 4, 1882.




169

COMPTROLLER OF THE CURRENCY.

certifi.cates instead of coin, thus dispensing with the movement of large
amounts in bags and ux3on drays from the Treasury to the custody of the
banks. The following table shows the yearly transactions of the NCAV
York clearing house for the twenty-nine years since its organization in
1853, and the amounts and ratios of currency required for the payment
of daily balances:

Years.

1854
1855
1856
1857
1858
1859 . . . . . . . .
1860
1861
1.862
•1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877..
1878
1879
1880
1881
1882

N o . of
banks.

50
48
50
50
46
47
50
50
50
50
49
55
58
58
59
59
61
62
61
59
59
59
59
58
57
59
57
. 60
• 61

*C a p i t a l .

$47, 044, 900
48, 884,180
52, 883, 700
64, 420, 200
67,146, 018
67, 921. 714
69, 907, 435
68, 900, 605
68, 375, 820
68, 972, 508
68, 586, 763
80, 363, 013
82, 370, 200
81, 77,0, 200
82, 270, 200
82, 720, 200
83, 620, 200
84, 420, 200
84, 420, 200
83, 370, 200
81, 635, 200
80, 435, 200
81,731,200
71, 085, 200
63,611,500
60, 800, 200
60, 475, 200
61,162, 700
60. 962, 700
171,043,710

Balances paid
in money.

Average
daily
exchanges.

Average
daily balances paid
in m o n e y .

$297, 411, 494
289, 694,137
334, 714, 489
'365,313,902
314, 238, 911
363, 984, 683
380, 693,438
353, 383, 944
415, 53'0, 331
677, 626, 483
885, 719, 205
1, 035, 765,108
1, 066,135,106
1,144, 963, 451
1,125, 455, 237
.1,120, 318, 308
1, 036, 484, 822
1, 209, 721, 029
1, 428, 582, 707
1, 474, 508, 025
1, 286, 753,176
1, 408, 608, 777
1, 295, 042, 029
1. 373, 996, 302
1, 307, 843, 857
1, 400, 111, 063
1,516,538,631
1, 776, .018,162
1, 595, 000, 245

$19,104, 505
17,412,052
22, 278,108
26, 968, 371
15, 393, 736
20, 867, 333
23, 401, 757
19, 269, 520
22, 237, 682
48, 428, 657
77, 984, 455
84, 796, 040
93, 541,195
93,101,167
92,182,164
121, 451, 393
90, 274,479
95,133, 074
109, 884, 317
115, 885, 794
74, 692, 574
81, 899, 470
70, 349, 428
•76,358,176
73, 555, 988
82, 015, 540
121, 510, 224
159, 232,191
151, 637, 935

$988, 078
940, 565
1, 079, 724
1,182, 246
1,„016, 954
1,177, 944
1, 232, 018
1,151, 088
1,344,758
2, 207, 252
2, 866, 405
3,373,828
3, 472, 753
3, 717, 414
3, 642, 250
3, 637. 397
3, 365, 210
3, 927, 666
4, 636, 632
4, 818, 654
4, 205. 076
4. 603, 297
4, 218, 378
4, 504, 906
4, 274, 000
4, 560, 622
4, 956, 009
5, 823. 010
5,195, 440

t645, 059, 244, 842 ^28,280,157,052 172,443,011

13,176,537

Exchanges.

$5, 750, 455, 987
5, 362, 912, 098
6, 906, 213, 329
8, 333, 226, 718
4, 756, 664, 386
6, 448, 005, 956
7, 231,143, 057
5, 915, 742, 758
6, 871, 443, 591
14, 867, 597, 849
24, 097,196, 656
26, 032, 384, 342
28, 717,146, 914
28, 675,159, 472
28, 484, 288, 637
37, 407, 028, 987
27, 804, 539, 406
"29,300,986,682
33, 844, 369, 568
35, 461, 052, 826
22, 855, 927, 636
25, 061, 237, 902
21, 597, 274, 247
23, 289, 243, 701
22, 508, 438, 442
25,178, 770, 701
37,182,128, 621
48, 565, 818, 212
46, 552, 846,161

Eatios.

P e r . ct.
5.2
5.4
4.8
4.4
6.6
5.6
5.3
6.0
6.0
4.6
3.7
4.0
3.7
4.0
4.0
3.0
3.7
4.1
4.2
4.1
5.7

.5. a

5.9
5.9
.5.8
5. &
4.1
3.S
3.4
4.4

The total amount of transactions for the tAventy-nine 3^ears giA^en in
the table is $645,059,244,842, and the annual average is $22,243,422,236.
The clearing houfee transactions of the assistant treasurer of the United
States at New York, for the year ending November 1,1882, Avere as follows:
Exchanges received from clearing-house
Exchanges deliA^ered to clearing-house
Balances paid to clearing-house
Balances received from clearing-house

$341, 737, 470 97
124,963, 744 70
218, 899,803 26
2,126, 076 9i>

ShoAving t h a t the amount paid by the assistaut treasurer to the clearing-house was in excess of the amount received by him
216, 773,726 27

A table comxjiled from statements made by the New York clearinghouse, giAing the clearings and balances weekly for the nionths of
September, October, and November, of the years from 1874 to 1882, will
be found in the appendix, and are valuable for purposes of comparison.
The following table exhibits the transactions of clearing-houses located
*The capital is for various dates, the amount at a uniform date in each year not
being obtainable.
.
t Yearly aA^erages for twenty-nine years.
t Totals for tAA^enty-nine years.




170

REPORT ON THE FINANCES

in 22 cities, for the year ending October 1,1882, from official returns receiA^ed by the manager of New York Clearing-House:
Cities.

Exchanges.

Boston, Mass
Philadelphia, P a . . .
Chicago, 111
C i n c i n n a t i , Ohio . : .
Saint Louis, Mo . . .
Baltimore, Md
San F r a n c i s c o , C a l .
Ijfew Orleans, L a . . .
Pittsburgh, Pa ....
Louisville, K y
Milwaukee, Wis . . .
K a n s a s City, M o . . .
Cleveland, 'Ohio . . .
Indianapolis, I n d ..
H a r t f o r d . Conn
P e o r i a , 111
Memphis, Tenn
Worcester, M a s s . . .
Springfield, M a s s . .
Lowell, M a s s
Syracuse, N . Y
N e w York City

$3, 753, 496,
901
2, 760, 946,
905
487
2, 373, 903,
971,900, 000
878, 549,184
508
. 700,464,.
635,787, 678
484, 615,412
433, 689,238
392,189, 934
388,170, 946
178, 044,500
116, 481,767
112,000, 000
88, 493,000
54, 428,517
43, 693,882
42,769, 666
41, 450,006
28, 502,573
21, 929,316
161
46, 552, 846,

22 cities
i^ew Y o r k C i t y

Balances.

.00
49
00
00
00
35
51
00
82
00
06
00
00
00
00
00
07
00
06
08
97
34

61, 054, 353, 584 75
76,3 p e r c e n t . of
! total exchanges.

'.

$479, 090,685 00
234, 099,190 71
247, 934,356 00

(*)

251
141,172, 848
83, 968,530
112,275, 734
49, 733,178
82, 218,489
41, 072,929
62, 640,

00
07
21
00
18
27
20

(*)
(*
•)

24, 000,000 00
23, 588,000 00

(*) 986 74
9, 721,394 00
13, 747,908 74
12, 694,606 94
10, 701,858 28
245 27
6, 043,
1, 595, 000,
3, 229, 701,191 61
49.4 p e r c e n t , of
total balances.

* ISTo r e c o r d k e p t .

The following interesting table has been copied from the Public, of
New York City, of November 23, which gives the latest information concerning the exchanges at NCAV York and other cities having clearinghouses, for the week ending November 18, 1882, comxiaring them with
those for the corresponding Aveek in 1881, and showing the percentage
of differences. The exchanges at the same places for the week ending
November 11,1882, are also given with the percentage of differences resulting from a comparison with the exchanges for the same week of the
prcAnous year.
AVeek e n d i n g N o v e m b e r 11.

AVeek e n d i n g ISTovember 18.

1882.
New York
Boston
Philadelphia
Chicago
Cincinnati.Saint Louis
Pittsburg
Baltimore
San Prancisco
N e w Orleans
Milwaukee
Louisville
Providence
K a n s a s City
Cleveland
Indianapolis
Hartford
Memphis
N e w HaA^en
Peoria
Columbus
Portland
AVorcester
Springfield . . .
Lowell
Syracuse
Total
O u t s i d e N e w Yorls




, 054, 585, 666
75, 587, 683
55, 876, 635
48, 202, 2.52
21, 494, 000
17, 080, 980
14, 586, 503
14, 514, 871
14,116, 305
13, 491, 661
8,123, 670
7, 338, 929
5, 421, 800 I
4, 630, 200
2, 393, 822
2,141, 641
2, 055, 788
1, 634, 766
1, 418, 481
1, 078, 558
1, 073, 541
*1, 030, 655
949, 086
94.5,168
772, 367
576, 316
1, 370, 090, 689
315, 505, 023

Per
cent.

1881.

Per
cent.
-H19.3
-11.1
4-11.6
- 2.7
- 3.8
-11.6
-1-173. 8
- 7.8
-14.5
4-2L3
.2
-13! 8

-1-7.8
4-2.0
-1-41. 2
-fl4.2

$950, 469, 957
74, 693, 348
54, 040, 419
48, 221, 994
19,109, 500
17, 870, 457
23,161, 722
12, 213,156
10, 493, 471
14, 512, 512
6, 915, 788
6,781,630
5, 304, 900
5, 300, 000
2, 398, 234
1, 897, 587
1, 878, 811
1,707,416
1, 308, 520
1,127,170
1, 254, 293
*1,186,168
930, 826
823, 707
764, 848
507, 070

4-13. 2
— .7

1, 263, 687, 336
313, 217, 380

4-14.7
4- 2.7

$892, 319, 707
86,781,980
57, 969, 493
46, 857, 356
20, 275, 000
18, 552, 432
8, 231,182
15, 270, 602
13, 934,168
12, 381, 927
7, 816, 756
7,158, 985
5, 069, 600
3, 074, 700
2, 577, 219
2, 434, 748
1, 762, 978
1, 611, 834
• 1,263,734
1, 062, 509
899,134

-f 18. 2
-12.9
-3.6
-1-2.9
-f- 6. 0
-7.9
+77.2
-4.9
-h 1.3
-1-9.0
-f 3.9
-h 2.5
-1-6.9
-f50.6
-7.1
-12.0
-1-16. 6
-f 1.4
-}-12.2
-f 1.5
-1-19. 4

880,
926,
546,
504,

377
288
991
512

1, 210,164, 212
317, 844, 505

* P o r t l a n d o m i t t e d in f o o t i n g s .

1882.

+

.9

-1-7L8
+ 1.1
-23.8
-1-15.6
-f36.3
-fl4.6
- 4.0"
-1-21.0
4-11.7
- 7.4
4-30.9
4-28.8

COMPTROLLER OF THE CURRENCY.

171

CLEARINa-HOUSE CERTIFICATES.

Section 5192 Eevised Statutes x^i'O'^^i^^GS that clearing-house certificates, representing specie or lawful money specially d'eposited for the
xmrposes of any clearing-house association, shall also be deemed to be
lawful money in the possession of any association belonging to such
clearing-house holding and owning such certificate; and section 5193
Xirovides that the Secretary of the Treasury may receive United States
notes on deposit, without interest, from any national banking association, in sums not less than ten thousand dollars, and issue certificates
therefor in denominations of not less than five thousand dollars, which
certificates may be counted as part of the lawful-money reserve, and
may be accepted in the settlement of clearing-house balances at the
Xilaces where the deposits therefor Avere made.
The legal-tender note certificates Avere first issued in the fiscal year
1873. On June 30, 1875, there Avere outstanding $59,045,000 of these
certificates, of which the national banks held $47,310,000. On June 30,
1876, the amount outstanding Avas $33,140,000, of which the banks
held $27,955,000. On June 30, 1879, the amount had been reduced to
$29,330,000, and the banks held on June 14 of the same year, $25,180,000.
The amount outstanding on October 3, 1882, was $10,725,000, and the
national banks held on that day, $8,645,000.
The issue of the gold certificates Avas authorized by tbe fiftii section of
the act of March 3,1863, and they Avere used for clearing-house xiurposes
soon after the ])assage of the national bank act. The first issue was
made on Noveniber 13, 1865. On June 30, 1875, there were outstanding
$21,796,300,of which thenationalbanksinNew York City held$12,642,180.
The issue of these certificates Avas discontinued on December 1,1878, and
the amount outstanding had decreased on June 30,1879, to $15,413,700,
and on October 1, 1880, to $7,480,100. The amount outstanding on
October 3, was $4,907,440, of which the national banks held $4,594,300.
The issue of gold certificates haAang been discontinued by the government, and the amount of gold coin haA-ing rapidly increased, the banks
in New York found it necessary to establish a depository of gold coin
for the convenience of the clearing-house. This depository at the present
time is the Bank of America, by which bank certificates of deposit
Avere first issued on October 14, 1879. The aniount of such certificates outstanding on November 1, 1882, AA-as $26,390,000; on January
1, 1880, $25,610,000. The largest amount of coin on deposit, during the
year, Avas on January 21, 1882, viz, $45,330,000, the capacity of the
vault haAing been increased since 1880. The national banks of New
York City lield on July 1,1882, $34,486,000; on October 3, $41,132,000.
The act of February 28, 1878, authorized any holder of silver dollars
of the Aveight of 412J grains troy of standard silver, to deposit the
same Avith the Treasurer, or any assistant treasurer, of the United
States, in sums not less than ten dollars, and receive therefor certificates
of not less than ten dollars each, corresponding with the denominations of the United States notes. I t required that the'coin dexiosited,
or representing the certificates, should be retained in the Treasury for
the payment of the same on deraand, and that said certificates should be
receivable for custoins, taxes, and all public dues, and also authorized
their reissue. This act did not authorize their use as clearing-house
certificates, nor make them available as reserve forthe national banks.
The act of July 12, 1882, authorized and directed the Secretary of the
Treasury to receiA^e deposits of gold coin in denominations of not less
than $20 each, corresponding Avith the denominations of United States




172

REPORT

ON T H E

FINANCES.

notes. The coin deposited for the certificates is required to be retained
for the xiayment of the same on demand, and these certificates, and also
silA^er certificates, are authorized to be counted as part of the laA^^fiil
reserve of the national banks.
The act also provides that—
No national b a n k i n g association shall be a member of any clearing house in which
such certificates shall not be receivable in the settlement of cleariug-house balances.

The amount of silver certificates outstanding on NoA^ember 1 was
$65,620,450. The amount of gold certificates which had been issued
under this act on November 1, 1882, Avas $21,790,000.
STATE RANKS, TRUST COMPANIES, AND SAVINGS BANKS.

The act of Congress of February 19, 1873, section 333 of the United
States Eevised Statutes, requires the Comptroller to obtain from authentic sources, and report to Congress, statements, exhibiting under
appropriate heads, the resources and liabilities of such banks and saA^ings banks as are organized under the hiAvs of the scA-eral States and
Territories. In comxiliance with this act, he has presented annuall}' in
the apxiendices to his rexiorts, the resources and liabilities of these corporations, so far as it has been xiossible to obtain them. Through the
courtesy of State officers, returns of State banks, savings banks, and
trust and loan companies liaA^e, during the past year, been receiA^ed from
twenty-three States. Many of the States and Territories, including
Illinois, Kansas, Nebraska, Dakota, Oregon, Yirginia, and Tennessee
do not require x)eriodical returns of the condition of the different classes
of banks organized under their laws.
From these returns, the following abstract has been compiled, showing the resources and liabilities of State banks and trust companies for
the last three years, the number reporting in 1880 being 650; in 1881,
683, and in 1882, 704.
1881.
650 banks.
llESOUJtCES.

Loans and discounts
Overdrafts
tJnited States bonds
Other stocks, bonds, &c .
Due from banks
Real estate
Other assets
Expenses
Cash itenis
Specie
Legal-tenders, bank notes, &,o.
Total.

683 banks.

704 banks.

;
496, 731 $352, 725, 986
; $281,
1, 407, 695
597, 699
27,680,025
252,182
42. 330, 957
601, 792
54, 662, 829
340, 345
21, 396, 772
489, 086
11,941,741
374,037
1,136, 427
979, 492
16,900,762
176, 592
17, 925, 628
905, 977
27, 391, 317
500, 226

$404, 574, 420
1,373,116
25, 673, 984
45, 658, 7b3
57, 973, 718
19, 915, 682
13, 685, 205
1,193, 345
18, 546, 073
17, 902, 760
27, 322, 912

-I.

481, 774,159

575, 500,139

Capital stock
Circulation
Surplus fund
Undivided profits .
Dividends unpaid .
Deposits
Due to banks
Other liabilities . . .

109, 318, 451
283, 308
25, 008, 431
10, 774,731
486, 094
298, 759, 619
18, 613, 336
18, 530,189

112,111,325
274, 941
27, 857, 976
12, 237, 320
576, 413
373, 032, 632
19,105,664
30, 303, 868

113, 361, 931
286, 391
31, 504, 352
14, 758, 438 '
577, 419
426, 677, 092
18,409,351
28, 245, 024

Total.

481, 774,159

575, 500,139

033, 819, 998

LIABILrriES.




633, 819, 998

1

173

COMPTROLLER OF THE CURRENCY.

The foregoing table was prexiared from returns from all the New England States, except Maine; from four Middle States, not inclu ling
Delaware, and from all the Western States, excepting Illinois, Kansas,
and Nebraska. The only Southern States from wihich reports have
been receiA^ed weve South Carolina, Georgia, Louisiana, Texas, and
Kentucky. The only Pacific State is California. There no are State
banks in Maine, but one in NCAY Hampshire, six in Yermont, and none
in Massachusetts. There are, however, six trust and loan companies in
the latter State, one in Ehode Island, and scA^en in Connecticut.
SAVINGS BANKS.

The following table exhibits the aggregate resources and liabilities of
629 savings banks in 1880, 1881, and 1882 :
1880.

1881.

$315, 273, 232
70, 175, 090
187, 413, 220
150, 440, 359
20, 705, 378
32, 22.5, 923
39, 038, 502
27, 053, 452
216, 423
22, 063, 091
17, 072, 680

$307, 096,158
95, 817, 641
210, 845, 514
159, 819, 942
27, 069, 048
33, 249, 203
41, 987, 674
37,408,163
135, 572
40, 603, 641
. 13,758,106

$307, 089, 227
128, 483, 698
237, 786, 442
206, 291, 274.
32, 994, 578
35, 365, 717
39, 882, 429
11,047,346
132,204
38, 977,135
14, 932, 015

881, 677, 350

967, 790, 662

1, 052, 982, 065

819,106,973
51, 226, 472
4, 740, 861
6, 603, 044

891, 961,142
60,289,905
10, 325, 800
5, 213, 815

966, 797, 081
69,454,512
11,136,219
5, 594, 253

881, 677, 350

967, 790, 662

1, 052, 982, 065

1882.

RESOURCES.

Loans on real estate
Loans on personal and collateral security
Dnited States bonds
State, municipal, and other bonds and stocks
Railroad bonds and stocks
Bank stock
Real estate
Other assets
Expenses
Dne from banks
Cash
:
Total
LIABILITIES.

Deposits
S u r p l u s fund
D n d i v i d e d profits
Other liabilities

.-

Total

The foregoing table includes the returns from the six New England
States, from four Middle States, not including Delaware, from the States
of Ohio, Indiana, California, and the District of Columbia. The aggregate of loans in the New England States is $252,010,803, and of
deposits, $430,233,402. In the Middle States the aggregate of loans is
$145,099,593, and of deposits, $469,058,085.
Some of the largest savings banks in the city of Philadelxihia, organized under old charters, are not required to make reports to any State
officer. Eeturns received directly from four of these banks, having deposits amounting to $29,913,605, are included in the returns from the
State of PennsylA-ania.
The savings-banks deposits, given in the foregoing table for 1882,
based upon rexiorts made to State authorities, are $966,797,081, and the
deposits of the State banks and trust companies were $426,677,092.
These returns do not include bank deposits. The deposits of the
national banks on October 3, 1882, exclusive of those due to banks,
were $1,138,071,777. These depo,sits of the national banks bear to those
of the savings banks the prox)ortion, nearly, of 55 to 45 ; to those of the
State banks and trust companies the proportion of 73 to 27; and to the
combined deposits of both, the proportion of 45 to 55.
The total population of New England, according to the census of 1880,



174

REPORT ON T H E

FINANCES.

Avas 4,010,529, and the number of open-deposit accounts of the saAings
banks in the year 1882 is 1,294,859, which is equal to 32.3 accouuts to
each one hundred of the entire population. The average amount of
each account is $332.26, and if the total deposits Avere divided among
the entire poxmlation, the average sum of $107.27 could be given to each
individual.
The deposits of the saA-ings banks in the State of New York were
$387,832,893, while the population is 5,082,871, showing that an equal
distribution of the savings-banks deposits among the entire population
of the State Avould give $76,30 to each individual. Tables sliowing the
aggregate resources and liabilities of Statebanks, trust companies, and
savings banks in each State, from which returns haA-e been received
from the State authorities appear in the Appendix.
A table is also there given showing by States the nuniber of saA-ingsbank depositors and the average amount due to each in 1881 and 1882.
P R I V A T E BANKERS.

In the Apxiendix will be found three comx^rehensive tables of two
Xiages each, giving by geographical divisions, and by States, Territories,
and princixial cities, the number of'State banks, savings banks, trust
and loan companies, and private bankers of the country, for the present
and two previous years, together with the amount of their capital and
deposits, aud the amount of their capital invested by them in United
States bonds. The first official information of this character ever published in regard to the private bankers of the country was contained in
a table in the Comptroller's report for 1880. The following information,
in reference to the priA-ate bankers in sixteen of the principal cities has
been compiled from the table in the Appendix for the year 1882:
Cities.

Boston
Nevr Y o r k C i t y
Albany
Philadelphia—
Pittsburgh
Baltimore
AVashington —
ISTew O r i e a u J i —
Louisville
Cincinnati
Cleveland
Chicago
,
Detroit
Milwaukee
SaintLouis
SanFrancisco..
Totals ....

Number
of b a n k s .

64
536
3
50
10
35
8
10
3
11
5
27
7
4
11
12

Capital.

51, 654,
91,
2, 040,
785,
1,104,
408,
71,
180,
686,
77,
8, 604,
161,
160,
295,
2, 030,

Deposits.

Invested in
Dnited States
bonds.

980, 391
364, 207
85, 767
097, 791
278,514
942, 802
338, 716
1,082
709, 290
869,514
599, 202
916, 243
095, 923
352, 465
246, 285
863, 554

$871, 395
7, 846, 422

109, 741, 746

10, 016, 206

77, 738
54,712
.177,107
326, 634
203, 858
14, 210
235, 787
5,750
3,812
45, 825
152, 956

The total number of xirivate bankers in the foregoing cities is 796,
Avith an aggregate capital of $74,440,599, and aggregate dexiosits of
$109,741,746; the average caxiital being $93,518, and the average deposits $137,867. About 6S per cent, of these private banks are located
in NCAV York City, representing more than tAv.o-thirds of the aggregate
capital and over one-half of the aggregate deposits. In the city of New
York the average amount of capital is $96,370 and deposits $105,157
for each private banker; and the bankers in that city also held $7,846,422
of United States bonds, or nearly one-half of the araount of such bonds
held by all of the private bankers of the country.



COMPTROLLER OF TXIE CURRENCY.

175

The folloAving table gives similar information for the thirty-three States
and Territories, exclusiA^e of the cities in the above table, having an
amount of capital in excess of $100,000. In this table the number of
private bankers is 2,530; the aggregate amount of caxiital, $39,287,623,
and of deposits $181,970,664, the average capital being $15,529, and the
aA-erage deposits $71,925.
States and Territories.

N o . of
banks.

Pennsylvania..
Ohio
Iowa
Dlinois
Indiana
Texas
New York
Kansas
Michigan
Missouri
Minnesota
jSTebravSka
Oregon
Wisconsin
Kentucky
Colorado.
Alabama
Montana
Georgia
Connecticut . . .
Washington . . .
Rhode Island. Virginia
Dakota
Mississippi
California
Dtah
Nevada
AVyoming
South Carolina
Arkansas
Louisiana
Florida

203
221
315
297
118
123
162
164
149
89
109
126
17
85
25
48
23
15
30
16
15
8
19
61
10
25
9
7

Totals...

2, 530

Invested in
XJ. S. b o n d s .

Capital.

Deposits.

$4, 295, 918
4, 294, 085
4,186, 651
3, 735, 378
3, 286, 507
2, 708, 364
1, 753, 420
1, 633, 919
1, 407, 597
1, 263, 396
992, 068
931, 366
863, 367
780, 952
662, 368
629, 939
576,175
570, 858
.561, 667
477,158
418, 657
412,496
410, 590
392, 789
372, .537
352; 006
278, 464
215, 445
193, 426
189, 577
176, 676
132, 286
131, 521

$24, 780,177
23, 709, 057
16, 703, 267
24, 328, 452
14, 069, 359
7, 224, 606
15,152, 9.59
5, 046, 452
6, 930, 293
6, 961, 756
4,486,316
3, 046, 989
2, 370, 681
4, 317, 006
2, 779, 621
2, 469,192
1, 792, 676
1, 434, 947
951,645
2, 018, 460
1, 008, 857
553, 489
2, 378, 429
810, 324
1, 017, 893
30.9,128
259, 082
779, 656
772, 078
63, 432
529,125
80, 235
834, 965

$227, 954
784, 737
321,310
634, 845
706, 965
11,175
493, 976
435, 531
147, 207
218, 696
18, 413
38, 237
265, 250
69, 816
21, 083
1,500
500

39, 287, 623

181, 970, 664

4, 7.53, 852

6,000
7,571
2,500
.52, 983
40, 000
36, 907
47, 755
100, 000
62, 941

The remaining thirteen States and Territories, not enumerated in
the above table, contain 65 xirivate bankers, with an aggregate capital
of $527,670, and aggregate deposits of $3,909,750. Massachusetts has
only three private bankers, outside the city of Boston, with an aggregate capital of $64,167, and aggregate deposits of $618,206. Maryland
has but two xirivate bankers outside of the city of Baltimore. The
State of Maine has ten xirivate bankers. North Carolina but four. New
Hampshire two. New Jersey four, Delaware and Yermont only one each,
and Arizona eleven. The aA-erage amount of capital held by each of
these 65 private bankers is $8,511, and of deposits $63,060.
The following table shows, by geographical divisions, the number of
Xirivate bankers in the United States, with the aggregate amount of
their caxiital, deposits, and investments in United States bonds, forthe
six months ending May 31, 1882:
G-eographical divisions.

New Eno'land States
Middle States
. ..
Southern States
AVestern States and Territories
Dnited States




No. of
banks.

Capital.

Deposits.

Invested in
UnitedStates
bonds.

104
1, 014
293
1,980

. $7,1.30,196
62,193, 765
6, 369, 701
38, 552, 230

$9, 417, 712
113, 079, 792
19, 981, 042
153,143, 614

$981,
9, 204,
227
4, 457,

3,391

114, 255, 892

295, 622,160

371
616
181
627

14, 870,745

176

REPORT ON T H E

FINANCES.

The table beloAv is a recapitulation of the foregoing, showing by groups
the aggregates for the bankers in the sixteen principal cities, in the
thirty-three States and Territories having a priA^ate banking capital in
excess of $100,000, and in the thirteen remaining States and Territories,
for the last year:
RECAPITULATION.
N o . of
banks.
P r i n c i p a l cities .•
Principal States and Territories
Remaiuing States and Territories

Deposits.

Invested in
UnitedStates
bonds.

796
2,530
65

$74, 440, 599
39, 287, 623
527,670

$109, 741, 746
181, 970, 664
3, 909, 750

$10, 016, 206
4, 753, 852
100, 687

3,391

Dnited States

•

Capital.

114, 255, 892

295, 622,160

14, 870, 745

SECURITY FOR CIRCULATINa NOTES.

During prcAaous years there have been many changes in the classes
of United States bonds held by the national banks as security for their
circulation, owing to the payment or refunding or extension of the different issues of five and six per cent, bonds bearing interest at four and
one-half, four, three and one-half, and three per cent. During the present year 259 millions of three and one-half xier cent, bonds, held by
the banks, which Avere extended from five or six per cent, bonds in the
year 1881, haA^e been changed into three per cent, bonds. The amount
of United States bonds held by the Treasurer as security for the circulating notes of the national banks on the first day of November, 1882,
is exhibited in the following table:
C l a s s of b o n d s .

A u t h o r i z i n g act.

F u n d e d l o a n of 1881 (5's, i n t e r e s t ceased)
F u n d e d loan of 1891
F u n d e d loan of 1907
L o a n o f J u l y and A u g u s t continued
L o a n of 1863 c o n t i n u e d (81's)
F u n d e d loan of 1881 c o n t i n u e d
F u n d e d l o a n of J u l y 12,1882
Pacific R a i l w a y b o n d s

J u l y 14, 1870, a n d J a n u a r y 20, 1871..
..do. .
.
,
..do
J u l y 17 a n d A u g u s t 5 1861
'..
M a r c h 3, 1863
.
J u l y 14, 1870, a n d J a n u a r y 20, 1871..
J u l y 12 1882
J u l y 1, 1862, a n d J u l y 2,1864

R a t e of
interest.

Amount.

P e r cent.

Total

:

4
3§
Sh
3|
3
6

$15, 000
33, 754, 650
104, 927, 500
749 500
1, 351, 700
38, 505, 750
179, 675, 550
3,526 000
362, 505, 650

During the year 1871, and previous thereto, a large xiortion of the
bonds bore interest at the rate of six xier cent., and until the year 1877
all of the bonds bore interest at either five or six per-cent. The five
or six per cent, bonds, in the year 1881, entirely disappeared from the
list of these securities, with the exception of three and a half million
of Pacific sixes.
At the xiresent time more than eleven per cent, of the amount, pledged
for circulation, consists of bonds bearing interest at three and a half per
cent, only, and nearly fifty per cent, of them bear interest at three per
cent., and the remainder, with the exception of three and one-half
millions of Pacifies, bear interest at the rate of four and four and a
half per cent.




COMPTROLLER

OF THE CURRENCY.

177

COUNTERFEIT AND UNSIGNED NATl^ONAL-BANK NOTES.

Section 5 of the act of June 30, 1876, provides—
That all United States officers, cliarged with the receipt or (Xisbursement of public
mbneys, and all officers of national banks, shall stamp or write in plain Xetters the word
"counterfeit," *'altered" or "worthless," upon all fraudulent notes iss ued in the form
of, and intended to circulate as money, which shall be x^i'esented at their place of
business, and if such officers shall wrongfully stamp any genuine note of the United
States, or of the national banks, they shall, upon presentation, redeem, such notes at
the face value thereof.

This section inakes it the duty, not onty of every^f&cer of the United
States charged Avith the receipt or disbursenient of public moneys, but
also of all officers of the national banks, to stamp every fraudulent note
which shall be presented at their counters, in such a manner as shall
thereafter prevent its circulation.
There is no doubt that there has been great neglect on the part of
national bank officers to comxily with this law. The number of counterfeit national bank notes which have been issued is very small in proxiortion to the nuniber issued xirevious to the establishment of the national banking systeni, but the nuinber in circulation has largely
increased during the last few years, probably OAving to the fact that the
bank notes which are x)resented at the counters of the banks, and Avhich
are known to be fraudulent, are not immediately stamped ''counterfeit,"
^'altered," or>'Avorthless," as required by law. If a genuine note is
wrongfully stamped, the officer thus stamxiing it can immediately obtain a genuine note in exchange by forwarding the same to the Treasurer for redemption, so that there is no risk whatever on the x)art of
the officers of natibnal banks, even if they should wrongfully stamp a
genuine note.
Section 5172 of the Kevised Statutes x^i'ovides that national bank
notes shall exxiress upon their face the promise of the association issuing the same to pay on demand, attested hy the signatures of the xiresident or vice-x)resident and cashier, and si ction 5182 of the Eevised
Statutes x:)rovides, cthat after any association receiving circulating notes
has caused its xiromise to pay such notes on demand to he signed by the
Xiresident or Ance-xiresident and cashier thereof, in such manner as to
make them obligatory promissory notes, payable on demand at its place
of business, such association may issue and circulate the same as money.
There can be no doubt as to the meaning and intention of these sections. The laAV requires that national bank notes shall be signed by the
president or vice-xiresident and cashier, before they are placed in circulation, and every bank issuing notes, not thus signed by these officers,
subjects itself to a forfeiture of its charter. Notwithstanding this plain
Xirovision of law, various banks haA^e issued their notes with xirinted
signatures, and in some cases with lithograxihic signatures, Avhich are so
badly executed as to excite suspicion as to the genuineness of the notes.
The written signature of the officers of the bank afe necessary as an
additional xirecaiition against counterfeiting. The signature of atjeast
one baiik-officer is necessary as a check between this, office and the
issuing bank, for if the question of an overissue of notes should arise,
the signature of such officer would, AAathout question, (letermine the
genuineness of the note.
A.bill is now pending in Congress, imposing a fine of twenty dollars
for every circulating note issued by auy national bank Avithout the
written signature thereon of at least one of its officers.
Nationaibank notes, Avith new designs, are now being raxiidlv issued
12 F



178

REPORT ON THE FINANCES.

to banks whose corporate existence has been extended, and to other
national banks which are being organized, and it is important that
. these new notes should not be issued unless signed by the officers in
.accordance with law. The Comptroller respectfully repeats his pre^
Aaous recommendations for the xiassage o f t h e act referred to, which
act should also impose a xienalty uxion any engraA^er or lithographer
who shall print the signature of bank officers upon such notes.
^ TAXATION.
In xireAHOus reports the rexieal of the law imxiosing a tax upon bank
capital and deposits, and of the two cent stamp tax on checks, has been
recommended as a measure of justice to the banks, and as a benefit to the
people, and to the manufacturing and commercial interests of the country. During the last session of Congress a bill including a provision
for repealing these taxes was passed by the House by a A^ote of 127 to 79.
The debate in the Senate, as well as some votes on preliminary questions, showed that if a vote upon the bill had been reached it would
have becorae a laAv. The force of the reasons heretofore urged for the
repeal of these taxes is as great as ever. The revenue still continues in
excess of the amount required for thk exxienses of the gOA^ernment, including interest on the public debt Avhich is being rapidly reduced; and
the taxes imposed upon banking' capital by the government. State, and
municipal authorities are larger than during any previous year. The
Comptroller presents, herewith, a table Avhich gives, for the year 1881,
the amount of the banking capital invested in nationalbanks, and the
amount and rates of United States and State taxes paid by the nationa.!
banks in CA^eiy State and xirincipal city in the Union.
Ratios to capital.

Amountof taxes.
Capital.*

. states aud Territories.

IJnited
States.

State.

TotaLf

United
States.

State.

Total.

P e r ct.
1.2
1.3
1.1
1.3
1.7
1.1
1.3

P e r ct.
2.2
1.7
1.6
1.9
1.8
1.4
1.6

P e r ct.
.3.4
.3.0
2.7
3.2
3.5
2.5
2.9

$10, 394, 806
5,835,442
8, 073,115
45, 340, 820
50, 862,191
19, 968, 874
25, 539, 720

$129,324
73,493
92, 045
601,953.
883, 716
216, 910
325, 760

$226, 648
98, 848
125, 796
856, 031
903, 444
280, 812
419,701

• N e w E n g l a n d S t a t e s . 166, 014, 968

2, 323, 201

2, 911, 280

5, 234, 481

1.4

:

1.'8

3.2

605,458
1, 697, 003
62,g51
239,020
518, 798 .
442, 913
176, 312
31, 820
43, 351 .
167, 350
5,100
18,193

573, 679
1,757,982
49, 058
229, 874
186, 981
129, 368
78, 838
2, 866
36, 256
175, 356
255
4,261

1,179,137
3, 454, 985
111,909
468, 894
705, 779
572, 281
255,150
.
34,686
79, 607
342, 706
5,355
2^454

1.8
3.3
3.5
1.9
1.8
2.6
1.8
1.8
1.8
1.5
2.0
1.6

1.8
3.5
2.7
. 1.9
0.6
0.7
0.8
0.2
1.5
« 1.6
0.1
0.4

3.6
6.8
6.2
3.8
2.4
3.3
2.6
2.0
3.3
3.1
2.1
2.0

171, 963, 922

4, 008,169

3, 224, 774

7,232,943

2, 978, 995
1, 750, 470
2, 501, 000.
1, 871, 679
2, 250, 946
100. 000

66, 749
26, 262
35,142
31, 748
33, 744
2,535

59,540
32, 560
34, 039
44, 607
38, 838
1,035

126,289
58. 822
69,181
76, 355
72, 582
3,570

Maine
1
N e w Hamipsliire
Vermont.
....
Massacliusetts
Boston
Rhode Island
.
Connecticut

...
.

.

!New Y o r k
..
N e w Y o r k City . . . . . . . .
Albany
•
New Jersey
Pennsylvania
Philadelphia .
Pittsburgh
Delaware
Maryland
fealtimore
.
D i s t r i c t of C o l u m b i a
Washington
Middle States
Virginia
W e s t Virginia
N o r t h Carolina
South Carolina
Georgia
Florida.

1..

33, 037, 003
51, 045, 869
1, 800, 000
12, 913, 077
29, 305,142
17, 358, 000
9, 850, 000
1,743, 985
2, 396, 849
11,136, 997
252, 000
1,125, 000

$355, 972
172, 341
217,841
1, 457, 984
1, 787,160
497,722
745, 461

1.9

2.3
•
.

2.2
1.5
1.4
1.7
1.5
2.5

'

4.-2

2.0
1.8
1.4
2.4
1.8
2.1

4.2
3.3
2.8
4.1
3.3
4.C

*The capital of the banks that reported State, county, and municipal tales on stock and real estate
is $456,579,431.




179

COMPTROLLER. OF THE CURRENCY.
A m o u n t of t a x e s .
States aud Territories.

Ilatios to capital.

Capital.
United
States.

Total.

State.

United
States.

State.

Total.

0
Alabama
New Orieaus
Texas
Arkansas
Kentucky
Louisville
Tennessee.

:..

Southern States
Ohio
Cincinnati
Cleveland
Indiana
Illinois
Chicago -..-.
Michigan
Detroit
Wisconsin
Milwaukee
•
Iowa
Minnesota
Missouri
Saint Louis
Kansas
Nebraska
Colorado
Nevada
CalifoVnia
'.
San F r a n c i s c o . ,
Oregon
Dakota
Idaho
Montana
N e w l^exico
Utah.
"i:...
Washington
Wyoming
Western States and
Territories
\Juited States

$1, 518, 000
2, 875, 000
1, 430, 769
• 205,000
7, 303, 824
3,1.51, 500
3, 321, 239

P e r ct. P e r ct.
1.3
Ll
2.4
0.3
1.9
1.5
2.2
L6
1.4
.0.6
1.7
0.8
2.0
2.1

$19, 814
67, 698
27, 247
4,506
101.520
54, 544
66,700

$16, 285
7,092
15, 998
3,237
47, 970
24, 891
62, 903

31, 258, 422

538, 209

388, 995

927, 204

. 334, 242
131, 973
57, 583
222, 220
234, 657
252, 349
126, 613
52, 468
.56, 338
29, 794
. 123, 069
95,716
31,156
68,120
20, 967
32, 911
. 57,329
992
32. 289
18, 661
10,985
10, 999
1,940
8,590
8, 149
5,578
3,151
4,179

361,143
104,151
. 57,816
265,197
196, 960
109, 763
131, 511
37, 889
46, 777
15, 604
114, 650
87, 298
31, 822
70, 245
24, 208
22, 239
29,139
1,050
11,264
103
4, 250
16,013
. 3, 047
5,470
5, 070
3,600
2, 070
3,090

695, 385
236,124
115, 399
487,417
431, 617
362,112
258,124
90, 357
103,115
45, 398
237, 719
183, 014
62, 978
138, 365
45,175
55,150
86, 468
2,042
43, 553
18, 764
15, 235
27, 012
4,987
14, 060
13,219
9,173
5,221
7,269

L7
2.3
1.6
L7
2.1
5.9
1.7
2.5
2.3
,4.6
2.1
L9
2.0
2.5
2.3
3.7
4.8
1.6
L8
1.2
4.4
2.0
1.9
3.8
2.0
2.8
L6
2.1

93,104, 289

2, 033, 013

3, 794, 452

P e r ct.
2.4
2.7
3.4
3.8
2.0
,2.5
4.1

L7

19,158, 781
5, 732, 633
3, 700, 000
13, 025, 842
10, 914, 614
4, 250, 000
7, 348, 556
2,114,298
2, 419, 721
650, 000
5, 999, 645
5, 062, 546
1,534,184
2, 725. 000
925, 000
880, 924
1,185, 702
62, 500
1, 780, 788
1, 500, 000
250, 000
554, 909
.100,000
225, 815
400, 000
200, 000
200,000
202, 831

2.2

1, 761, 439
8, 286, 488

462, 341, 601

74,
43,
7,
149,
79,
129,

790
245
743^
490
435
603

17,18

1.9

3.0
3.6
4.2
3.2
3.7

L9
1.9
L6
2.0
L8
2.6
L8
L8
2.0
2.4
2.0
L8
2.3
2.7
2.8
2.5
2.9
1.7
0.6
0.1
1.7
3.1
3.0
2.7
L3
L8
L4
2.1

8.5
3.5
4.3.
4.3:
7.0.
4.1
3.74. 3:-.
5. 2.5.1
6. 2
7.73.5.
2.4
L3-.
6.1
'5.1
4.9 •
6.5.
3.3
4.6
3.0.
4. 2;

1.8

3.r

Similar tables for the years 1867 and 1869, and for the years 1874 to,
1880, inclusive, may be found in the Appendix.
The following condensed table shows fbr the years 1879,1880, and 1881
the amount of these taxes paid by banks located in each geographical
division of the country:
1879.

'

'

Amount of taxes.

Geographical divisions.

Ratios to capital.

Capital.
United
States.'

State.

TotaK

$165, 032, 512
New England States
170, 431, 205
Middle States
30, 555, 018.
Southem States
Western States and T e r r ' s . 90, 949, 769

$1, 942, 209
3,190,113
425,997
1,457, 812

$2, 532, 004
2,930,269
383, 927
1, 751, 032

United States . . . . . . . . 456. 968, 504

7, 016,131

. 7, 603, 232




United
States.

State.

$4,474,213
6,126, 382
809, 924
3, 208, 844

L2
L9
L4
L6

L5
L7
L3
2.0

2.7
3 6
2!?
3.6

14, 619, 363

L5

L7

3.2

Total.

180

REPORT ON T H E FINANCES.
1880.
R a t i o s of c a p i t a l .

A m o u u t of t a x e s .
Greographical d i v i s i o n s .

Capital.

United
States.

State.

Total.

$165, 680, 256
N e w England States
170, 781, 946
Middle States
30, 829,178
Southern States
W e s t e r n S t a t e s a n d T e r r ' s . 89, 975,165

$2,190, 921
3, 697, 245
479, 613
1, 750, 324

$2, 886, 916
2, 927, 948
403,092
1, 658, 866

. . . 457, 266, 545

8,118,103

7, 876, 822

N e w England States
. . $166, 014, 968
Middle States
: . . 171, 963,922
31, 258, 422
Southern States
W e s t e r n S t a t e s a n d T e r r ' s . 93,104,289

$2, 323, 201
4, 008,169
538, 209
2, 033, 013

462,341,601

8, 902, 59.2

United States

United States

United
States.

State.

$5, Oil, 837
6, 625,193
882, 705
3, 409,190

L3
2.2
L6
L9

L8
L8
L4

3.1
4.0
3.0
3.9

15, 994, 925

L8

L8

3.0

234, 481
9S9 04:^
927, 204
794. 4.52

1,4
2.3
1.7
2.2

,s

17,189, 080-

1.9

1.8

$2, 911, 280 $5,
3 224 774
7
388, 995 1
1, 701, 439 i 3,
8,286,488

1.9
1.3
1.9

Total.

'

3.2
4 2
3.0
4.1
3.7

i t will be seen that the xier centage of State taxation during the year
1881 varies from 1.3 per cent, in the Southern States to 1.9 per cent, in
the Middle and Western States, and that tlie aA-erage percentage
throughout the United States remains the same as it Avas during the
year 1880, bnt has increased one-tenth of one per cent, as compared with
that paid during the year 1879. Tbe total of United States and State
taxes paid by national banks to capital is 3.7 per cent, during the year
1881, haAing increased one-tenth of one per cent, over those paid in
1880, and one-half of one per cent, over those paid during the year 1879.
. The rates of United States taxation are the same in all sections of
the country. The inequabty in tlie* percentages of United States taxes
to caxiital arises from the fact that while the United States tax is imXiosed on the three iteins of capital, deposits, and circnlation, the percentages given in tbe tables are those of the total tax derived from
these three sources to capital only. Where the deposits are large
in proportion to capital, the proportion of the United States tax, as
measured by caxiital, appears greater. The first table given.beloAv
shows the xiercentages to capital of taxation xiaid by the banks in the
princixial cities of the country. Particular attention is called to.the
inequality in State taxation shown by it. The second table gives the
States in'AYhich the taxes, United States and State, are most excessive.
1879.
Cities.

Boston
New Y o r k . . .
Albany
Philadelphia
Pittsburgh..
Baltimore . . .
Washington.
New Orleans
Louisville...
Cinciunati...
Cleveland . . .
Chicago
Detroit.'!
MilwaulNee..
SaintLouis..
Saint P a u l . . .




United
States

State.

1880.
Total.

United
States.

P e r ct P e r ct. P e r ct. P e r ct.
2.6
1.6
1.3
1.3
5.53.1
° 2.6
2.9
5.4
3.1
2.9
2.5
2.8
2.4
2.1
0.7
L7
L4
0.6
2.0
2.5
L4
1.2
L3
1.4
0.4
1.8
].5
L7
0.5
2.2
- 2.0
L5'
0.6
2.1
L7
1.9
2.4
4.3
2.3
L3
2.0.
3.3
1.4
3.4
2.4
5.8
4.8
•
2.2
4.^0
2f2
- - ir8^
2.8
2 . ^ . , : 5 . 3 , . - 4. 0
L8
2.1 •
3.9 • -2.4
L5
L5
3.0
L7

1881.

State.

TotaL

P e r ct.
L9
2.9
3.2
0.7
0.7
L5
0.4
0.2
0.6
2.3
1.6
2.5
L7
3.0
2.5
L8

P e r ct.
3.5
6.0
6.3
3.1
. 2.4
2.9
1.9
2.2
2.3
''' 4. 6
3.0
7:3 i
3.9
7.0 .
4.9
3.5

United
States.

State.

Total.
Per ct.
6.2
3.,3
2.6
3.1
2.0
•2.7
2.5
4.2
3.2
8.54.3
7.0
5.2
3.5

181

COMPTKOLLER OF THE CURRENCY.
1879.

.

1880. .

1881

States..
United
States.

New York
New Jersey
Ohio
.
Indiana
Illinois
Wisconsin
Kausas
Nebraska
South Caroliua
Tennessee

...

P e r ct.
1.5
1.5
14
14

ll
....

2.1
2.6
12
17

State.

Total.

P e r ct. P e r ct.
. 3.5
2.0
3.3
18
3.4
2.0
3.5
2.1 '
3.3
18
3.4
18
.4.8
2.7
5.2
2.6
3.2
2.0
3; 5
1.8

Ft"JS state.
Perct.
1.7
1 7
16
1 6
1 9
2.0
2.3
3.3
14
19

Total.

\'Perct. P e r c t .
j
1.9
3.6
1 • 1 9
3.6
19
3.5
2. 2
3.8
j . 1 8
3.7
19
.3.9
4.5
2.2
.5.8
2.5
3.9
2.5
4.6
•2.7

United
States.

State.

P e r ct. P e r ct.
1^8
18
19
19
17
19
17
2.0
2.1
18
2.3
2.0
. 2.3
2.8
3.7
2.5
17
2.4
2.0
2.1

Total.

P e r ct.
3.6
3 8
3.6
3.7
3.9
4.3
5.1
6.2
4.1
4.1

The Imiform rates of United States taxes are annually one xier cent,
uxion their notes in circulation; one-half of one per cent, uxion their dexiosits, and the same rate upon the average amount of their capital, in
excess of that invested by them .in United States bonds. These taxes
are paid semi-annually by the hational banks to the Treasurer of the
United States, and subject the government to no expense for their collection.
The Avhole cost of the national banking s^^stem to the government,
from the date of its establishment in 1863, has been $5,366,90S; on the
other hand, the government has, in about twenty years, collected taxes
upon the capital, circulation, and deposits of national banks at the rates
heretofore specified, amounting, as may be seen by the following table,
to $118,005,706.25:
On c i r c u l a t i o n .

Years.
1864
,1865
1866
1867
1868
1869.
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881.
1882

'

^
---

.

•-.
i
•
•

...
:.

..

Ajijrresrates

On (leposits.

On c a p i t a l .

$53,193
733, 247
2,106, 785
2, 868, 636
2, 946, 343
2, 957, 416
2,949,744
2, 987, 021
3,193,570
3, 353,186
3, 404,483
3, 283, 450
3, 091, 795
2, 900, 957
2, 948, 047
3, 009, 647
3,153, 635
3,121, 374
3,190,981

$95, 911
1, 087, 530
2, 633,102
2, 650,180
2, 564,143
2, 614, 553
2, 614, 767
2, 802, 840
3,120, 984
3,196, 569
3. 209, 967
3, 514, 265
3, 505,129
3, 451, 965
3; 273, 111
3, 309, 668
4, 058, 710
4, 940, 945
5, 521, 927

$18, 432
133, 251
406, 947
321, 881
306,781
312, 918
375, 962
38.5, 292
. 389, 356
454, 891
469, 048
507, 417
632. 296
660, 784
560,296
401,920
379, 424
431, 233
437, 774

32
59
30
78
07
73
13
69
03
13
11
89
76
53
08
16
63
33
98

52, 253, 518 24

87
86
77
09
44
58
61
85
37
29
72
39
64
38
74
90
61
12
47

58,166, 276 70

07
15
74
36
67
68
26
13
27
51
02
76
16
90
83
61
19
10
90

7, 585, 911 31

Total.
$167 537
1, 954, 029
5,146 835
5, 840, 698
5,817,268
5, 884. 888
5,940,474
6,175,154
6, 703, 910
7, 004, 646
7, 083, 498
7,305,534
7, 229, 221
7, 013, 707
6,781,455
6, 721, 236
7, 591, 770
8, 493, 552
9,150, 684

26'
60
81
23
18
99
00
67
67
93
85
04
56
81
65
67
43
55
35

118, 005, 706 25

The tax imposed upon banks other than national is collected by the
Gommissioner of Internal Eevenue. The rates upon capital and deposits are the same as in the case of the national banks. A tax of
ten per cent, is imposed, under section 3412 of the EcAdsed Statutes,
on the use, in payments, of notes issued by any banks other than
national. This tax has the ettect of preventing the issue of circulating
notes by State banks. The table below giA^es the taxes collected annually
by the Commissioner of Internai Eevenue during the years from 1864 to




182

REPORT ON THE FINANCES.

1882, inclusive, showing the whole amount xiaid during that period by
banks, other than national, to have been $66,793,930.
On c i r c u l a t i o n .

Years.
1864
...
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876-....
1877.
1878
1879
1880
1881
1882

.:

..--..

Afferreeates

$2, 056, 996
1, 993, 661
990, 278
214, 298
28, 669
. 16, 565
15, 419
22, 781
8, 919
24,778
16, 738
22, 746
17, 947
5, 430
1,118
13, 903
. 28, 773
4, 295
4, 285

Ou d e p o s i t s .

On capital.

$780, 723 52
30
2, 043, 841 08
84
2, 099, 635 83
11
1. 355, 395 98
75
1,438, .512 77
88
1, 734, 417 63
05
2,177, 576 46
94
92 . 2, 702,196 84
3, 643, 251 71
82
3, 009, 302 79
62
26' , 3, 453, 544 26
2, 972, 260 27
27
2, 999, 530 75
67
2, 896, 637 93
16
2, 593, 687 29
72
2, 354, 911 74
29
2, 510, 775 43
37
2, 946, 906 64
08
4, 096,102 45
77

$S»63, 367 98
374,074.11
476, 867 73
399,562 90
445, 071 49
827, 087 21
919,262 77
976, 057 61
736, 950 05
916,878 15
1,102, 241 58
989, 219 61
927, 661 24
897,225 84
830, 068 56
. 811, 436 48
811006 35
1,153, 070 25

46, 809, 211 37

14, 497,109 91

. 5, 487, 608 82

Totals.
• $2, 837, 719
4,940,870
3,463, 988
2,046,562
1, 866, 745
2,196, 054
3, 020, 083
3, 644, 241
4,628,229
3,771,031
3, 387,160
4, 097, 248
4, 006, 698
3, 829,729
3,492,031
3,198, 883
3, 350, 985
3,762,208
5, 253, 458

82
90
05
46
55
17
61
53
14
46
67
12^
63
33
85
59
28
07
47

66. 793, 930 10

The following table exhibits the taxes, both national and State, paid
by the natiohal banks during each of the sixteen years preceding 1882,
and the proportion of sijicli taxes to caxiital.
s
•

R a t i o of t a x to c a p i t a l .

A m o u u t of t a x e s .
Years

Capital stock.
United States.

1866-..-.-'-..
1867
1868 . - . : . . . .
1869
1870
1871
1872
1873
1874...
1875-..»....
1876
1877
1878
1879 .o.
1880
t..
1881

$410,593,435
422, 804, 666
480,143, 491
419, 619, 860
429, 314, 041
451,994,133
472, 956, 958
488. 778, 418
493,751,679
503, 687, 911
501,788,079
485, 250, 694
471, 064, 238
456, 968, 504
457,-266, 545
462, 341, 601

$7, 949, 451
9,525,607
9, 465, 652
10, 081, 244
10,190, 682
10, 649, 895
6, 703, 910
7, 004, 646
7, 256, 0K3
7, 317, 531
7, 076, 087
6, 902, 573
6, 727, 232
7, 016,131
8,118,103
,8, 902, 592

State.

$8, 069, 938
8, 813.127
. 8,757,656
7, 297, 096
7, 465, 675
. 7,860,078
.8.343,772
8, 499, 748
9, 620, 326
10„038,122
9, 701, 732
8, 829, 304
8, 056, 533
7, 603, 232
7, 876, 822
8, 286, 488

Total.

$16,019,389
18, 338, 734
18,223,308
17, 378, 340
17, 656, 357
18, 509, 973
15, 047, 682
15, 504, 394
16, 876, 409
17, 375, 653
• 16,777,819
15,731,877
14, 783, 765
14, 619, 363
15, 994, 925
17,189, 080

Uuited
States.
P e r ct.
19
2.2
2.2
2.4
2.4
2.4
1.4
14
15
1.5
1.4
14
1.4
15
•18
19

State.

Total.

Perct. Per
2.0
. 2.1
2.1
.1'7
1 7
17
18
18
2.0
2.0
2.0
19
17
1 7 .'
18.

ct.
3.9
4.3
4.3
4.1
4.1
4.1
3.2
3.2
3.5
3.5
3.4
3.3
3.1
3.2
3.6.
3.7

This table shows that the percentages to capital of taxes have never
been less than three per cent, annually, and that during the last four
, years given there has been an increase in the rate from 3.1 per cent, to
3.7 per cent. It is probable that the rates of State taxation paid by
banks, other than national, do not A^aiy much from the rate of those
paid, by the national banks, although in many of the States, the laws
relative to the assessment of taxes ux)on bank capital have, heretofore',
somewhat discriminated against national banks. The repeal of the law
imposing the government taxes Avill still leave the l^anks subject to a
burden of taxation by the different States much greater than that imposed by them upon any other kind of capital, and this repeal is again
urgently recommended. The reduction of the annual rate of the tax
on circulation to one-half of one xier cent, is also recommended for reasons
giA^en in another portion of this'report.



'

•

COMPTROLLER OF THE CURRENCY.

183

I

DECISIONS RELATIVE TO STATE TAXATION OF NATIONAL BANK SHARESl

In the last annual rexiort of the Comptroller of the Currency reference was made to the decision of the United States circuit court of the
northern district of the Staite of ISTew York, in the case of the National
Albany Exchange Bank vs. Charles A. Hills etal.) suxiervisors of Albany
County,^]S'ew York, namely, that the law of the State of ^ e w York under
which taxes had been assessed for fourteen years upon bank shares was
void and invalid, for the reason that this act did not permit the owners of
national bank shares to reduce the assessment by the aniount of tlieir
4iebts, while owners of other moneyed cax3ital xiossessed that privilege.
The circuit court rendered a judgment in° favor of Stanley, the assignee and rexiresentative of the stockholders of the National Albany
Exchange Bank, for taxes preAdously exacted and paid. The supervisors appealed to the Supreme Court of theUnited States. The decision
of the latter court was rendered Axiril 3,1882, and reversed the decision
ol the circuit court in the case of all except one of the stockholders
represented by Stanley.
The court said:
The question here to be decided arises uuder two statutes of the Stateof New York
in regard to taxation. -The first of these is the act of 1850, relating to the assessment
and collectiou of taxes in the city of Albany. The sixth section of the act requires
the board of assessors to prepare an assessment roll, in which there shall be set opposite the name of each tax-payer (1) all his real estate liable t a taxation, aud its value;
(2) the full value of- all his personal property, after deducting the just debts owing by
him. Section 9 of the act is as follows: ' ' I f any person shall at any time before tho
assessors shall have completed their assessments make affidavit t h a t the value of his
real estate does not exceed a certain sum, to be specified in such affidavit, or t h a t the
value of the personal estate owned by him, after deducting his just debts and his
property invested in the stock of any corporation or association liable to be taxed
therefor, does not exceed a certain sum, to be specified iu the affidavit, it shall be the
duty of the board of assesors to value such real or personal estate, or both, as the
case may be, at the sum specified iu such affidavit, and no more."
In 1866 the State enacted a law concerning the taxation of bank shares, wJ.iich was
evidently intended to meet the requiremeuts of the act of Congress in relation to
State taxation of the shares of national banks, and the provision of this statute
relates only to taxing stockholders in banks, and to the capital investedin iudividual
banks. The first section of this act reads as follows, an.d it contains uo other provisions for deductions as the basis of taxation, except Avhat is found in this section :
*'No t a x shall hereafter be assessed upon the capital of any bank or banking association organized under the authority of this State or of the Uuited States, but the.
stockholders in such banks und bankiug associations shall l3e assessed and taxed on
t h e value of their shares of stock therein," &c.
In the case of Peoxile v. Dolan (36 N. Y., 59) the question Avas whether, taking the''
two statutes together, an owner of shares of stock was entitled to deduct f r o m t h e
assessed value ot his shares the just debts due him. * * * . The court of appeals
decided t h a t no such deduction should be made uuder the law of 1866. Iii the case>
of W^illiains v V^^eaA^er, Williams had made the affidavit required by section 9 of the
act of 1850, and demanded a deduction of the assessors, which they refused. The
case Avas takeii to the cpurt ctf appeals, which reaffirmed the principles held in
tfie case of People v. Dolau. The Williams case coming to the Uuited States Snpreme
Court by writ of error, it was held t h a t while we are bound to accept t h e decision of
the highest court of the State in construction of its own statute, the act of 1866 as
thus construed was in t h a t particular iu conflict with t h e act of Congress, because it
did t a x shares of the national banks at a higher rate than other moneyed capital in
t h e State. * ^ * Accepting, therefore, as we must, the act of 1866, as construed by t h e
court of appeals of New York, as not authorizing any deduction for debts by a shareholder of a uational bauk, is it for t h a t reason absolutely void? * * " It would
seem t h a t if the act remains a valid ^rule of assessment for shares of State banks and
for individual bankers, it should also remaiu the rule for shareholders ofnational banks
who have no debts to deduct. ^ •• ^
* ^-

None of the stockholders except Williains made the afiddavit required
by the act of 18'50, shoAying they had debts to deduct, and therefore in




184

REPORT ON THE FINANCES.

their case the judgment of the circuit court was rcA^ersed, and in that of
Williams affirmed.
This decision seems to cut off all remedy for taxes already paid by
stockholders of Albany national banks wlio neglected to make the afifidaAdt required under the act of 1850.
In People v. WeaA^er the Supreme Court xiointed out that the method'
to pursue in cases where the taxation by State authority of shares of
national banks was greater than that of other monied capital in the
same State, was by enjoining the collection of the excessive taxation. In the case of iiational Albany Exchange Bank v. Hills, the
bank brought, on behalf of its stockholders, a suit to enjoin the collection for faxes assessed but unpaid forthe year 1879, and the circuit
court ofthe northern district of New York granted a xierpetual injunction. The Suxireme Oourt decided that the injunction was xiroperly
granted as to one stockholder, who made affidavit and deniand on account of deduction of his debts, but not as to tbe others, who had made
no such affidavit or demand, but in the case of the latter the loAver court
was directed to permit them to bring their action in an amended form,
on the gronnd tbat they refrained from niaking affidavit and deniand,
because they knew it would have no effect.
In the case of German National Bank of Chicago v. Kimball, appealed
to the United States Suxireme Court from circuit court for the northern district of Illinois, it was decided tbat no one can be permitted to
go into a court of equity to enjoin the collection of a tax, until he has
shown himself entitled to the aid ofthe court by paying so much of the
tax assessed against him as it can be jilainly seen he ought to xiay, nor
should he be permitted, because his tax is in excess of Avhat is just and
lawful, to screen hiniselt from paying any tax at all, until the xirecise
amount which he ought to pay, is ascertained by a court of equity.
In the* case" of Eyansyille National Bank v^ Britton, referred to
last year, as decided in the United States circuit court for the district
of Indiana, the Snpreme Court affirms the decree of the lowei-court,
perpetually enjoining the collector as to those shareholders who at the
time of the assessment proA^ed that they owed debts which should rightfully be deducted, and dismissing the bill as to other shareholders.
All of these decisions appear to have grown out of matters xiending
when the decision of the United States Supreme Court in tbe case of
People.-y. Weaver A\^as rendered. I t is xirobable that in most States the
legislatures Avill so modify their laws taxing bank shares as hereafter
to conform with the princixiles laid doAvn in that decision 5 but these
supplementary decisions are valuable in that they xioint out a mode
of action in all cases where discrimination in any form is made in
assessing or collecting taxes on national bank shares. The xiJirty aggrieved must clearly state the amount of the excessive taxation, pay
what is justly due, and enjoin the collection of the remainder. In stating the amount believed to be unjustly demanded, strict regard must be
had to the forms required by the State laws in force in the place where
. the bank in located. While the Supreme Court of the United States is
extremely careful not unnecessarily to interfere Avith the effect of State
legislation in the taxation of national bank shares, it uxiholds the rights
of indiAdduals under Federal laws when actions based on equitable
grounds are brought in a proper manner.
In New York City it is claimed that under the act now in force in the
State, taxing national and other bank shares, which permits the deduction of debts, there is still great discrimination in the valuation of bank
shares as comxiared AA^tli the A^aluation of other xiersonal xiroxierty and
real estate.



185

COMPTROLLER OF THE CURRENCY.
DIVIDENDS.

From the semi-annual returns made to this office under section 5212
of the Eevised Statutes of the United States, the following table^ hasbeen prepared, Showing the dividends and total earnings, and the ratio
ofeach to caxiital and combined caxiital and surxilus, for each semi-annual
period from September 1,1869, the close of the period fbr which these
reports were first received, to September 1, 1882.

P e r i o d of
six m o n t l i s ,
eaKling—

Sept. 1,1869
• M a r . 1,187®
Sept, 1,1870
M a r . 1,1871
Sept. 1,1871
M a r . 1^1872
Sept. 1,1872
M a r . 1,1873
S e p t . i , 1873
M a r . 1,1874
Sept. 1,1874
M a r . 1,1875
S e p t . 1,1875
M a r . 1,1876
S e p t . 1,1876
M a r . 1,1877
Sept. 1,1877
M a r . 1,1878
S e p t . 1,1878
M a r . 1,1879
S e p t . 1,1879
M a r . 1,1880
Sept. 1,1880
M a r . 1,1881
Sept. 1,1881
M a r . 1,1882
Sept. 1,1882

Is^o. of
baiilvs.

Capital.

T o t a l cliTidends.

Surplus.

Total net
earnings.

DiTi- D i v i d e n d s E a r n i n g s
d e n d s to t o c a p i t a l t o c a p i t a l
and sur.
c a p i t a l . a n d surplus.
plus.

1,481 $401, 650, 802 $82,105, 848 $21, 767, 831 $29, 221,184
1,571 416, 366, 991 86,118, 210 21, 479, 095 28, 996, 934
1,601 425, 317,104 91, 630, 620 21, 080, 343 26, 813, 885
1,605 428, 699,165 94, 672, 401 22,205,150 27, 243,162
1,C93 445, 999, 264 9,8, 286, 591 22,125, 279 27, 315, 311
1,750 450,693,706
99, 431, 243 22, 859, 826 27, 502, 539
1,852 465, 676, 023 105,181, 942 23, 827, 289 30, 572, 891
1,912 475, 918, 683 114, 257. 288 24, 826, 061 31, 926, 478
1,955 488,100, 951 118,113,848 24, 823, 029 33, 122, 000
1,967 489, 510, 323 123, 469, 859 23, 529, 998 29, 544,120
1,971 489, 938, 284 128, 364, 039 24,929,307 30, 036, 811
2,007 493, 568, 831 131, 560, 637 24, 750, 816 29,136, 007
2,047 497, 864, 833 134,123, 649 24, 317, 785 28, 800, 217
2,076 504, 209, 491 134, 467, 595 24,811,581 23, 097, 921
2,081 500,482, 271 132,251,078 22, 563, 829 20.540,231
2,080 496, 651, 580 130, 872,165 31, 803, 969 19; 592, 962
2,072 486, 324, 860 124, 349, 254 22,117,116 15, 274, 028
2,074 475, 609, 751 122, 373. 561 18, 982, 390 16, 946, 696
2,047 470,231,896 118, 687,134 17, 959, 223 13, 658, 893
2,043 464, 413, 996 116, 744,135 17, 541, 054 14, 678, 660
2,045 455,132, 056 115,149, 351 17, 401, 867 16, 873, 200
2,046 454, 080, 090 117, 226, 501 18,12i, 273 21,152, 784
2,072 454, 215, 062 120,145, 649 18, 290, 200 24, 033, 250
2, 087 456, 844, 865 122,481,788 18, 877, 517 24, 452, 021
2,100 458, 934, 485 127, 238, 394 19, 499, 694 29,170. 816
2,137 460, 354, 485 131,291,889
19, 915, 375 27, 083; 599
2,197 473, 947, 715
133, 570, 931 20. 876, 553 26, 237, 635

P e r cent.
5.42
5; 16
4.96
5.18
4.96
5,07
5.12
5.22
5.09
4.81
5.09
5.01
4.88
4.92
4.50
4.39
4.54
3.99
3.81
3.78
3.82*
3.99
4.03
4.13
4.25
4.33
4.40

P e r cent.
4.50
4.27
4.08
4.24
4.07
4.16
4.17
4.21
4.09
3.84
4.03
3.96
3.85
3.88
3.57
3. 47
3.62
3.17
3.04
3.02
3.05
3.17
3.18
3.26
3.33
3.37
3.44

P e r cent.
6.04
5.77
5.19
5.21*
.5.02
5.005.36
5.41
5.46
4.82
4. 86
4.66
4.56
3.62
3.253.12^
2.50'
2.83
2.31
2.53
2.96.
3.70
4.18
4.22
4.98
4. 56=
4.32:

i

In the following table is given, by geographical divisions, the number
ofnational banks, with their capital, which paid no dividends to their stockholders during the two semi-annual periods ending March and September 1, 1882; to which has been added the total number of banks, with
their caxiital, similarly passing dividends during the semi-annual periods
. of each of the four preceding years, with the average for each year and
the average for the whole period offiA^eyears.
Six m o n t h s e n d i n g —
A v e r a g e for
year.
M a r c h 1, 1882.^'

Geograpliical divisions.

X o . of
banks.
N e w England States
Middle States.
Southem States.
W^estem S t a t e s a n d T e r r i t o r i e s
Totals
Totals
Totals
Totals
Totals

for
for
for
for
for

1882
1881
1880
1879
1878

Capital.

•

8. $1, 350, 000
58
6, 763. 000
18
1, 640, 000
89
7, 430, 500

i;..V-.-....

173 . 17,183, 500
175 20, 321, 530
226 30, 407, 200
309 53, 843, 700
'328 48, 797, 900

'
•

...

A v e r a g e for eacli y e a r




.. .

"242

34 110 766 1

the

S e p t e m b e r 1,1882.
N o . of
banks.

Capital. „

ISTo. of
banks.

14
62
25
118

$2, 206, 000
8, 725, 000
2, 337, 000
12,812,730

11
60
21
104

$1,778,
7, 744,
1, 988,
10,121,

219 26, 080, 730
171 18, 387, 550
233 26, 334,150
299 44, 576, 300
. 357 " 58, 736, 950

196
173
230
304
343

21,
19,
28,
49,
53,

34, 823,136

249

34, 466, 951

'^•^^6

Capital.
OO
O*
000
500
615

632,115
354, 540
370, 675
210, 000
767, 425.

186

REPORT ON T.HE FINANCES.

The percentage to capital of diAddends paid, and of dividends and earnings, respectively, to combined capital and surplus, is shown by similar
geographical divisions for the years 1877 to 1882, inclusive:

Geographical
divisions.

1879.

1878..

1877.

DiviDiviDiviEarnings
DiviDivi^ d e n d s t o E a r n i n g s
Dividends to Earnings
dends to
to capital
d e n d s t o c a p i t a l t o c a p i t a l d e n d s t o c a p i t a l to c a p i t a l d e n d s to c a p i t a l
•and sur- c a p i t a l . a n d sur- a n d sur- c a p i t a l . a n d sur- a n d surc a p i t a l . a n d surplus.
plus.
plus.
plus.
plus.
plus.

.

P e r ct.
New England
States
Middle States.. .
SonthernStatcs
W e s t e m States
and Territories

P e r ct.

P e r ct.

P e r ct.

6.0
6:6
7.1

4.7
5.4
7.1

12. 2

9.6

7.2

8.9

7.1

5.6

7.6
8.5
8.3

United States..

P e r ct.

•

P e r ct.

P e r ct.
4.3
4.9
5.7

9.6
•

P e r ct.

6.4
7.9
• 7..0-

5.5
6.1
6.2
7.8

6.9

6. 2 j

5.1

7. 6

5.2
6.1
6.0

9.4

7.8

6.9
7.9
7.3

• 1881.

1880.

P e r ct.
4.2
5.8
5.4

7.5
^

1

7.1

6.1

• 5.5

1882.

•

Oeographical
divisions.

DiviDiviDiviDivid e n d s t o Earniugfl
dends to Earnings
Divid e n d s to E a r n i n g s
Divito capital
c a p i t a l to c a p i t a ] d e n d s t o c a p i t a l t o c a p i t a l d e n d s t o c a p i t a l a n d surd e n d s to
a n d sur- c a p i t a l . a n d surc a p i t a l . a n d sur- and sur- c a p i t a l . a n d s u r plus.
plus.
' plus.
plus.
plus.
plus.
P e r ct.

New England
States
Middle States.SouthernStates
Western States
and Territo,
ries
United States

P,ei ct.

P e r ct.

P e r ct.

P e r ct.^

P e r ct.

P e r ct.

P e r ct.
5.7
6.3
6.7

6.8
8.6
10.3

P e r ct.

6.8
8.4
7.8

5.5
6.5
6.7

6.4
8.6
7.6

7.2
8.5
8.3

5.8
6.4
6.9

7.3
9.4
11. 3

7.1
. 8.4
8.2

9.5

7.6

9.3

10.4

S 1

11.6

12.0

10.0

15.7

8.0

6.4

7.9

8.4

6.6

...

8.7

6.8

8.9

\

In the apxiendix may be found tables exhibiting the amount of divi-i
dends and earnings of the national banks, arranged by geographical
divisions, for semi-annual periods from September 1, 1873 ; also an abstract of reports of diAidends and earnings for the two semi-annual
periods of the present year, and a table, by States and reserve cities, of
the ratios to capital and to combined capital and surplus of the dividends and earnings from March 1, 1877, to September 1, 1882.
•'•.LOSSES.

During the year ending Septeniber, 1882, losses in their business on
every account, including losses on technical bad debts, under section
5204 of the Revised Statutes, and premiums on United States bonds,
have been charged off by the national banks, amounting to $11,324,912.93.
Of this sum $4,963,155.22 was charged off during the six months ending March 1, 1882, and $6,361,757.71 during the six months ending September 1, 1882.
,
,
'
The following table sbows the number of banks charging off these
losses and the amount charged off in each State and reserve city in the
United States for the semi-annual periods named above.




COMPTROLLER OF THE CURRENCY.
M a r c h ] , 1882.

States and Territories.

34
27
26
97
36
22
47
138
40
5
47
114
25
13
8
9
12

N o . of j
banks. |

Losses.

'

,

:.

$70,
43,
84,
355,
269,
130,
179,
482,
466,
21,
26i:
309,
333,
119,
43,
12,
33,

634
369
831
769
632
931
671
230
519
401
295
020
833
205
566
939
047

17
34
1,
23,
79,
18,
1
43;
23,
47
9
76,
37,
40,
256,
1
47,
106,
139,
101,
72
50,
28,
15,
66,
66,
.54
70:
10,
12,
66,

'

Add
Add
Add
Add

Septembei-1, 1882.
Aggregate.

N o . of
banks.

Maine
New Hainpshire
,
Vermont
Massachusetts
Boston
Ilhode Island
Connecticut
—
Kew York
^..
New York City ...
Albany
New Jersey
Pennsylvania
Philadelphia
Pittsburgh
Delaware . .^
Maryland
.'
Baltimore
...
District of Columbia.
Washington
Virginia .,
West Virginia
:..
North Carolina
South Carolina
Georgia. .1
Eloiida
Alabama
...
New Orleans
Texas
,
Arkansas
Kentucky
Louisville
Tennessee
Ohio
Cincinnati . . .
Cleveland
Indiana
Hlinois
Chicago...
Michigan
^.
Detroit
Wisconsin
Milwaukee
Iowa
Minnesota
Missouri
SaintLouis
Kansas
^
Nebraska
Colorado
,
Nevada
California
:
. San Francisco
Oregon
:
Dakota
M o n t a n a ...,
N e w Mexico
Washingtou
Wyoming

187

145 61
345 71
110 79
607 94
366 74
201 60
9.57 26
699 US
811 21
751 25
515 90
650 80
245 99'
516 90
334 63
474 68
621 14
422 07
146 49
933 50
400 47
147 58
789 96
217 22
200 20
801 04
.526 74
940 63
684 84
041 81
312 91
692 65
192 99
439 04
355 60
654 71
404 45
098 40
796 48
697 55

•28,
10,
24,
33,
3:
4,
5,

,

T o t a l s for 1882 .
for 1881
for 1880
for 1879
for 1878
.'..

73
91
31
27
31
56
07
69
58
38
73
24
66
60
60
37
65

4, 963,155 22
5, 889, 761 19
7, 563, 886 04
10,238,324 98
10, 903,145 04

A g g r e g a t e losses for five y e a r s .

36
22
21
101
41
30
53
132
41
5
50
111
25
17

7
11
2
23
7
18
99
8
5
41
65
8
42
3
15
1
43
18
12
4
9
6
14
1
4
1
5
2
3
^•1
1,252-1
1, 269
1,321
1. 442- I
1,430 i

, 558, 272 47 I

Losses.

$106, 926 28
$177, 561 01
79, 877 71
123, 247 62
90,848.43
175, 679 74
370, 248 93
726, 018 20
554, 848 82
385, 216 51
207, 882 27
76, 950 71
152,105 13
331, 776 20
439, 013 51
921, 244 20
478 72
t, 282,
815, 959 14
84, 790. 97
106, 192 35
466, 983 76
205, 688 03
564, 100 38
255, 080 14
589, 092 59
255, 25^8 93
992, 381 21
1, 111,586 81
53, 743 30
10,176 70
35, 854 63
48, 794 00
137, 164 00
104,116 35
2, 200 00
2,200 00
46, 636 54
29, 490 93
63, 688 53
98, 034 24
4, 282 54
3,171 75
104, 300 27
80,692 33
124, 246 91
44,880 17
32, 781 87
50, 983 47
5 00
1,962 26
53, 042 46
9, 343 38
716 51
' 153,109 68
129, 905 30
' 58, 358 43
106, 232 32
3, 716 42
13, 372 20
42, 721 40
119, 140 13
57, 738 53
19, 894 14
70, 630 00
30, 221 63
567, 879 87
311,295 37
70,405 19
83, 361 88
65, 740 74
113, 752 16
214 669 11:
108, 330 09
288, 455 15
149, 522 62
165, 330 87
63, 521 65
149, 339 16
76,930.40
62, 321 33
12,191 ,58
71 912 31
42, 531 37
695 09
15, 956 96
87, 756 76 I
153, 204 03
137, 603 84
70; 402 99
59,077 10
11.3, 634 33
146, 298 60
75, 693 70.
20, 613 76
31 987 31
19, 945 50
31, 878 75
232, 073 72
166, 565 84,
1 075 24
381 07
16, 882 25
45, 376 47
• 5, 937 43
16, 355 60
24, 684 52
55, 694 42
22,029 81
2, 289 97
5, 117 08
5,796 48
1, 018 68
5.131 71
434 16
. 1
6, 361, 7.57 71
6, 801. .588 56
7,142, 519 96
11, 487, 330 17
13, 563, 6.54 85

I 45, 356, 851 25 84, 915,123 72

The total losses charged off* in each of thefiA^epreceding years are
added to this table. A considerable portion of these technical losses
have already been collected, and other large amounts will undoubtedly
be hereafter recovered. Full tables for the six preceding years may be
found- in the apx)endix.*




^ See note at foot of page 197.

188

REPORT ON T H E FINANCES.

The following table gives fhe losses for the last, live years of the
national banks located in eacb geograpbical division of the United
States. The nnmber of banks reporting losses and the total losses for
' five .vears are also showii in this table.
New England
States.

Middle States.

Southern
States.

No. A m o u u t .

Six m o n t h s ending-

No. A m o u n t .

No. 1 A m o u n t .

417 $4, 506, 813
449 5, 502, 770

124 i $672, 032 ' 436 $2, 380, 288 1, 304 $10, 903,145
140 1 1; 225, 602 \ 442 2,818,469 1,430 13, 563, 665

M a r c h 1, 1878 .."-.. 327 $3, 344, 012
S e p t e m b e r 1, 1878. 399 4, 016, 814
•

7, 360, 826

Total, 1878...

M a r c h 1 , 1 8 7 9 . . . . . 379
S e p t e m b e r 1, 1879. 384

3,612,128
3, 388. 394

Total, 1879..-.
362
M a r c h 1, 1880
326
S e p t e m b e r 1, 1880.
Total, 1880....
M a r c h 1, 1881
285
S e p t e m b e r 1, 1881. 318
T o t a l , 1881

2, 236, 928
1, 866, 658

3, 592, 950 ' 125
696, 646
4,360,440 1 139 1, 235, 784

446
440

3,152,317
2, 817, 870

412
428

2, 548, 203
2, 975,110

7,953,390 !

4,103, 586 1
1, 584, 675
1, 707, 338

2,100, 206
3, 230, Oil

384, 607
797, 233

437, 781
519, 380

t

21.' 725.' 654

1, 643, 872 1,360'
1, 670, 946 l , 3 2 l |

7,563,886
7,142,520

3,314,818
401
404

387
411

14/706,406

1, 372, 276 1, 210
1,321,908 1,269

2,694,184 1

1,181, 840
107
122

24, 466, 800

2, 336, 600 1,421 10, 238, 324
2,502,712 1,442 11; 487, 330
4, 839, 312

431
.431

1, 317, 815
112
119

5, 523, 313
416
415

530, 769
787, 046

No. A m o u n t .

5,198, 757
458
456

1,932,430
121
124

5, 970.187

3, 292, 013

M a r c h 1 , 1 8 8 2 . . . . . . 289 • 1, i34, 840
S e p t e m b e r 1, 1882. 304 1,162,174

No. Amount.

10,009,583 ! - . .| 1,897,634
459
463

7, 000, 522

•

W^estern S t a t e s
U n i ted S t a t e s .
and Territoiies.

5, 889, 761
6, 801, 589

. 12. OQl 350

1, 290, 328 ll, 199
1, 450; 193 jl, 252

4, 963,155
6. 361, 758

Total, 1882....

2, 297, 014

5, 330, 217

957,161

2,740,521

11,324,913

T o t a l for five
years

24, 053, 961

34, 786, 690

7, 286, 880

IS, 787, 592

84, 915,123

' Of the losses exhibited by the foregoing tables, $2,025,502 was on
account of premiums on United States bonds charged off*. The high
premiums upon the United States bonds not subject to redemption
at the option ofthe government, compel tbose organizing newnational
banks to invest a portion of their capital in a premium account. As
the premium may entirely disappear at the maturity of tbe bonds it has
been a requirement of this office that a portion of such premium account
shall be charged to nndivided proiits each half 3 ear before the declaration
of a dividend until the whole account shall have disappeared. It is, of
course, possible that many of these amounts charged off*, either on account
of premiums or on account of technical bad dfebts, may eventually be
realized by the bank. The bank may close and withdraw and sell its
bonds while tbey yet command a premium. Debts, though technically
bad on account of interest remaining due and unpaid over six months,
may nevertheless be afterwards paid. These recovered losses are
included in the profits of each half year. Banks holding 4 per cent,
bonds have been instructed to charge off each year one-twentieth part
of the premium paid thereon, and counted as an asset; those holding 4J_
per cent, bonds have been instructed to siinilarly charge off'one-tenth
of the. premium, and those holding Pacific Eailroad sixes to charge off*
one-fifteenth. The charges in each case were to be made previous to
the semi-annual declaration of a dividend, and at no time is the amount
of premium counted as an asset to exceed the current market premium
<in the bonds held.




189

COMPTROLLER OF THE CURRENCY.

In the followiug table the losses charged off by the national banks iu"
the principal cities of the country are given for each of the years covered
by the preceding tables, with the total for the period.
Cities.

1878.

• 1879.

1880.

1881.

1882.

Total.

N e w Y o r k . . - - ! $5,147, 319 98 $3,135, 557 37 $2, 054, 381 52 $2, 321, 002, 62 $1, 282, 478 72 $13, 940, 740 2 i
'701, 054 73
Boston
2, 490,197 46 2, 655, 390 58 1,110, 831 72
554, 848 82
7, 512, 323 31
491,558 36
561, 676 30
399, 943 74
406, 249 16
589 092 59
Philadelphia ..
2,448, 520 15
333, 022 99
419, 036 51
258,128 15 . 2.58, 088 09 .1,111,586 81
Pittsburgh
2, 379, 862 55
294, 507 00
368, 915 ,99
211, 329 01
99,179 76
137,164 00
1, 111, 095 76
Baltiraore
272, 889 87
. 338, 496 90
118, 080 38
74, 920 25
153, 716 51
. 958,103 91
NewOrleans...

SURPLUS.

In the following table is exhibited the gradual accumulation of a surl)lus fund under the provisions of sectioii 5199, requiring each association, before tbe declaration of the semi-annual dividend, to carry to surplus, one-tenth of its net profits for tbe preceding half year, until such
fund shall amount to 20 per cent, of its capital.
Dates.

Amount..

Semi-annual
i n c r e a s e or
deciease.

Dates.

Amount.

Increase.
J u l y 4,1864
J a n u a r y 2,1865
J u l y 3,1865
J a n u a r y 1,1866
J u l y 2,1866.
J a n u a r y 7. 1867
J u l y l , 1867-...:...°.
J a n u a r y 6, 1868 . . . .
J u l y 6,'1868
J a n u a r y 4, 1869 . . . .
J u n e 12,1869
J a n u a r y 22, 1 8 7 0 . . .
J u n e 9,1870
D e c e m b e r 28, 1870 .
J u u e 10, 1 8 7 1 . . . . - - .
D e c e m b e r 16, 1871.
J u n e 10, 1872
D e c e m b e r 27, 1872 .
J n n e 13, 1873

129, 910
663, 311
31, 303, 566
43, 000, 371
50, 151, 992
59, 992, 875
63, 232, 811
70, 586, 126
75, 840.119
81. 169, 937
82, 218, 576
90, 174,281
91, 689, 8 U
94, 705, 740
98, 322, 204
101, 573,154
105, 181, 943
111, 410. 249
116, 847, 455

$7, 533, 401
22, 640, 255
11, 696, 805
7,151, 621
9, 840, 883
3, 239, 936
7, 253, 315
5, 253, 993
5, 329, 818
1, 048, 639
7, 955, 705
1, 515, 553
3, 015, 906
3,616,464
3, 250, 950
3, 608, 789
6, 228, 306
5, 437, 206

D e c e m b e r 26, 1 8 7 3 . . . - $120 961,268
J u n e 2 6 , 1874
126:239, 308
D e c e m b e r 31, 1874 . . . 130, 485, 641
J u n e 30, 1875"
133,169, 095
D e c e m b e r 17, 1 8 7 5 . . .
J u n e 30,1876
D e c e m b e r 22, 1 8 7 6 . . .
J u n e 22,1877
Decembei 28,1877...
J u n e 29,1878
J a n u a r y 1, 1879
J u n e 14, 1879

133, 085, 422
131, 897,197
131, 390, 665
124, 714, 073
121,568,455
118,178, 531
116, 200, 864
114, 321, 376

December 12,1879...
J u n e 11,1880
D e c e m b e r 31, 1 0 -.
J u n e 30, 1 8 8 1 . . ^ . . .
D e c e m b e r 31, 18 1 . .
J u l y 1,1882

115,429, 032
118,102, 014
121,824,629
126,679,518
129, 867, 494
131,079,251

Semi-annual
i n c r e a s e or
decrease..
Increase.
$4,113, 813
5, 278, 040
4, 246, 333
2, 683, 454
Decrease.
83,673
1,188, 225
506, 532
6, 676, 592
3,145,618
3, 389, 924
. 1,977,667
. 1, 879, 488
Increase.
$1,107, 656
2, 672, 982
3,722,615
4, 854, 889
3,187, 976
1.211,757

Practically the law requires that the surplus fund of eacb bank shall
at all times equal an amount equal to one-tenth of its total net earnings
«ince it commenced business. Many ofthe banks accumulate the fund
much faster than this, and some pass dividends for the purpose of doing
so. Some do not stop at the twenty per cent, limit named in section 5199,
-but continue to increase tbeir surplus until the latter is often greater
than the capital stock. As the fund is very rarely diminished except
for such extraordinary losses as cannot be met out of current profits,
it, together with the capital, constitutes the working fund of the bank
by the use of which dividends are earned. Bearing this in mind, it will
be seen that the returns made to stockholders of national banks for
their investment are not excessive.
In an excellent paper on the national banks of the United States,
read before the Banker's Institute of London, England, May 17, 1882,
by Mr. Eobert AY. Barnett, an associate of the Institute^ and published




190

REPORT ON T H E FINANCES.

in the journal of the Institute for July, 1882, the following comment is
made:
''Dividends paid by the banks have, on the whole, been satisfactory;
although, taking into consideration the value of capital in the United
States and the general rates of interest prevailing, the average rate of
dividends must be pronounced inoderate."
UNITED STATES L E G A L - T E N D E R NOTES AND NATIONAL BANK CIR,j
CULATION.

The acts of February 25, 1862, July 11, 1862, and March 3,1863, each
authorized the issue of 150 niillions of dollars of legal-tender notes, making an aggregate of 450 millions of dollars.
On January 30, 1864, the aniount of such notes outstanding was
$449,338,902, which was the highest amount outstanding at any one
time. The act of June 30, 1864, provided that the total ainount of
Unitecl States notes issued, or to be issued, should not exceed 400 millions of dollars, and sucb additional sum, not exceeding 50 millions, as
might be temporarily required for the redemption of temiiorary loans.
By the act of June 20,1874, the maximum amount was fixed at 382 millions. Section 3, act of Januar}^ 14, 1875, authorized an increase of the
circulation of national banks in accordance with existing law, without
respect to the limit previously existing, and required the Secretary of
the Treasury to retire legal-tender notes to an'amount equahto eighty
per cent, of the national-bank notes thereafter issued, until the amount
of such legal-tender notes outstanding should be 300 millions, ahd no
more. Under the operation of this act, $35,318,984 of legal-tender notes
werp retired, leaving the amount in circulation on May 31, 1878, the
date of the repeal ofthe act, $346,681,016, which is the amount now outstanding.
- ' '
In the following table are given the amount and kinds of the outstanding currency of the United States and of the national banks on January 1 of each year, from 1866 to 1882, and on November 1, 1882, to
which is prefixed the amount on August 31, 1865, when the public debt
reached its maximum.
Dnited States issues.

Date.
Legal-ten der
notes.

Old
demand
notes.

Fractional
currency.

N o t e s of national banks,
in e l u d i n g
gold n o t e s .

Aggregate.

'

A u g . 31, 1865 . $432, 553, 912 $402, 965 $26,344,742, $176, 213, 955 $635, 515, 574
J a n . 1,1866 . . . 425,839,319
392, 670
26, 000, 420
236, 636, 098 • 688,867,907
J a n . 1,1867 . . . 380,276,160
221, 632
28, 732, 812
.298,588,419
707, 819, 023
J a n . 1 , 1 8 6 8 . . - 356. 000, 000
159,127
31, 597, 583
299, 846, 206
687, 602, 916
J a n . 1,1869 . . - 356,000,000
128, 098 . 34,215,715
299, 747, 569
690, 091, 382
J a n . 1,1870 . . . 356,000,000
113, 098
39, 762, 664
299, 629, 322
695,-505, 084
J a n . 1,1871 . . . 356,000,'000 . 101,086
39, 995, 089
306, 307, 672
702, 403, 847
J a n . l , 1872 . . . 357,500,000
92, 801
40, 767, 877
328,465,431
726,826,109
J a n . 1,1873 . . . 1 358, 557, 907
84, 387
45, 722, 061
344, 582, 812
748, 947,167
J a n . 1 , 1 8 7 4 . . . 1 378,401,702
79, 637
48, 544, 792
350, 848, 236
777,874,367
354,128, 250
J a n . 1,1875 . . . 382,000,000
72, 317
46, 390, 598
782, 591,165
346,479, 756
J a n . 1,1876 . . . 371,827,220
69. 642
44,147, 072
762, 523, 690
J a n . 1,1877 . . .
366,055,084
65, 462
26, 348, 206
321, 595. 606
714,064,358
J a n . 1,1878 . . . 349, 943, 776
63, 532
17, 764,109
321, 672, 505
689, 443, 922
J a n . 1,1879 . . . 346,681,016
62, 035
16,108,159
323,791,674
686, 642, 884
JaoQ. 1,1880 . . - 346,681,016
• 61, 350
15, 674, 304
342, 387, 336
704, 804, 006
J a n . 1,1881 . . . 346,681,016 • 60,745
15, 523, 464
344, 355, 203
706, 620, 428
J a n . 1,1882 . . . 346,681,016
59, 92C
15, 451, 861
724, 614, 785
362, 421, 988
N o v . 1,4 8 8 2 . . - '^346,681,016
59,'380' >'15-402,-120^ "^^362, 727, 747
724,87-0,-263




Gold
Cnrrency
p r i c e ot p r i c e of
$100 c u r $100 gold.
rency.

$144 25 '
144 50
133 00
133 25
135 00
120 00
110. 75
109 50
112 00
110 25
112 50 .
. 112 75
107 C
O
102 87
100 00
100 00
100 00
100 00

ado 00

$69
69
75
75
74
83
90
91
89
90
88
88
.93
97
100
100
100
100
100

32
20
18
04
07
33
29
32
28
70
89
69
46
21
00
00
00
GO
00

y

191

COMPTROLLER OF THE CURRENCY.

The act of June 20, 1874, provided that any national banking association i/iight withdraw its circulating notes upon the deposit of lawful
money with the Treasurer of the United States in sums of not less than
$9,000. Since the passage of this act, $154,424,641 of lawful money have
been deposited with the Treasurer,by the national banks for the purpose
of reducing their circulation, and $120,156,646 of bank notes havebeen
redeemed, destroyed, and retired.
In the following table is shown, by States, the amount of circulation
issued and retired during the year ending November 1, 1882, and the
total amount issued and retired since June 20, 1874.
Circulation retired.

states and Territories.

Maine
New Hampshire
Vermont
Massachusetts
Rhode Island . . . . . . . . .
Connecticut
New York
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia..
Virginia
West Virginia
North Carolina
...
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
,
Kentucky
•.
Tennessee
Missouri
Ohio
Indiana
Ulinois
.Michigan
Wiscoiisin
—
Iowa
Minnesota
Kansas
Nebraska
Nevada
Oregon....
Colorado
Utah
Idaho
,
Montana
.
Wyoming
-..
New Mexico ..°... 1
Dakota
Washington
California...
,
Arizona
Total
S u r r e n d e r e d t o t h i s office a n d r e t i r e d .
Total...V
F r o m J u n e 20,1874, t o O c t o b e r 31,1881
S u r r e n d e r e d t o t h i s office b e t w e e n s a m e d a t e s .
Grand t o t a l .

Circulation
issued.

$253, 400
540, 000
251,110
1, 606, 200
443,120
755, 380
2, 792, 820
209, 250
2; 573, 080
45, 000
235, 750
171, 200
45, 000
9,000
85, 500
2,900
67, 500
87,100
259, 590
38, 240
657, 990
288, 000
260, 710
4, 276, 670
963, 090
1, 048, 050'
1, 061, 080
423,000
979,140
202, 500
240, 310
620, 970

Total.
A c t of J u n e
.20,1874.

Liquidating
banks.

i3, 070

$41, 571
39, 858
66, 882
123, 229
2,638
55, 220
346, 618
257,168
226, 740

334,742
2, 352, 033
773, 659
1,071,921
3, 711,140
594,128
2, 617, 877
20, 450
55, 060
19, 245
67,125
53, 790
125, 216
. .91,643
57,406
74, 895
23,169
27,-696
18, 818
285, 630
17, 503
216, 607
902, 354
878, 361
511, 402
440,118
140, 238
100, 32Q,
138, 979
69, 540
99, 305

45, 000
165, 600
99, 000
149, 000
45,000
54,000
243, 000
108, 000
32. 400
30, 600

26, 019

$104,641
39, 858
401,624
2; 475, 262
776, 297
1,127,141
4, 057, 758
851, 296
2, 844, 617
20, 450
59, hOZ
34, 553
111, 405
68, 691
146, 071
91, 643
. 83, 425

13,176
120
11, 540
10, 728
459
41, 800
39, 792
121,731
43,4, 320
362, 014
192, 528
129,119
88, 495
148, 357
107, 558
56, 334
2,010
165

88, 071 .
120
34,10%
38, 424
19, 277
327, 430
57, 295
338, 338
1, 336, 674
1,240,375
703, 930
569, 237
228, 733
248, 677
246, 537
125, 874
101,315
. ,165

4,443
15, 308
44, 280
14, 901
20, 855

19, 959
3, 860
26, 066

19, 959
3,860

29, 585

55, 651
750
42, 335

750
42, 335

22, 464, 250

16, 022, 591

3, 099, 380

19,121,971
753, 958

22, 464, 250
122, 727, 905

16, 022, 591
83,438,594

3, 099, 380
17,596,080

19, 875, 929
101, 034, 674
12, 205, 755

• 99, 461,185

20, 695, 460

133,116, 358

•\"

145,192,155

The amount of circulation issued to national banks for, the year endih'g November 1, 1882, was $22,464,250, including $6,500,680. issued to
banks organized during the year. The amount retired during the year



192

REPORT ON THE

FINANCES.

was $19,937,630, and the actual increase for the same period was therefore $2,526,620, makihg the total on November 1, $361,949,358.
During the year ending Noveniber 1,1882, lawful money to the amount
-of $26,501,045 was deposited with the Treasurer to retire circulation, of
which amount $7,895,754 was deposited.Jiy banks in liquidation.
The amount previously deposited under the act of June 20, 1874, was
$107,978,052; by banks in bquidation $19,945,544, to which is to be
added a balance of $3,813,675 remaining from deposits made by liquidating banks prior to the passage of that act. Deducting from the total
the aniount of circulating notes redeenied and destroyed without reissue ($120,156,646), there remained in the hands of the Treasurer, on
November 1, 1882, $38,081,670 of lawful nioney for the redemption and
retirement of bank circulation.
NATIONAL BANK AND LEGAL-TENDER NOTES BY DENOMINATIONS.
' C I R C U L A T I N G N O T E S O F T H E B A N K O F F R A N C E AND I M P E R I A L B A N K O F . G E R M A N Y ,
• BY DENOMINATIONS.

In accordance with law, no national-bank notes of a less denomina-*
tion than five dollars have been issued since Januaiyl, 1879, when the
amount outstanding was $7,718,747. Since that date the amount of
ones and twos issued by the banks has been reduced $6,778,189, and
during the same period the legal-tender notes of these denominations
have been increased $12,435,707.
During the last year the amount of national-bank notes of these denominations has decreased nearly one-half, to 940,558, the amount of
the decrease being $910,724. The total increase of the amount of ones
and twos outstanding, in national-bank and legal-tender notes, i s ,
^$5,657,518.
The following table shows, by denominations, the amount of nationalbank and legal-tender notes outstanding on October 31,' 188J{, and the
;aggregate amounts of both kinds of notes at the same period in 1880
-and 1881:
^
1882.
Denominations.

'Ones .
Twos
Mves
:
Tens
Twenties
Fifties
'One hundreds
Five hundreds
One thousands
Pive thousands
Ten thousands
'..
-Add for unredeemed fragments
of national-bank notes
Deduct for legal-tender notes
destroyed in Chicago fire
Total

NationalLegal-tender
bank notes.
notes.
$813, 800 $27, 255,144
126, 758
25, 473,197
96, 920, 955
68, 344,110
122, 713, 260
72, 012, 211
84, 001, 540
66, 716, 419
23, 657,100 . 24,145, 545
31, 598, 800
34, 237, 890
953, 500
14, 671, 000
197, 000
12, 200, 500
2,-395, 000
230, 000
+18,233

1881.

1880.'

Aggregate.

Aggregate.

Aggregate.

$28, 068, 944
25, 599, 955
165, 265, 065
194, 725,471
150,717,959
47, 802, 645
65, 836, 690
15. 624, 500
12. 397, 500
2,395,000
230, 000

,$24, 247, 362
$25, 793,171
23, 036, 578
24, 254, 366
167, 042, 898
168, 380, 062
189, 655, 588
196, 717, 671
151, 922, 503 - 147, 719. 837
45, 777, 475
46, 441, 7-75
^9 95fi 600
63.190, 370
16, 765, 500
14, 949, 500
14,640,500
12, 266, 500
565, 000
2, 430, 000
320, 000
260, 000

-M8, 233

-f 16, 586

+15,129

—1,000,000
361,000,946

—1, 000, 000

—1, 000, 000 , —1,000,000

346, 681. 016

707, 681, 962

705, 622^ 504 , • 688, 744, 467

The amount of one and two dollar notes outstanding is but one-fourth
of one per cent, of the whole circulation ofthe banks; the fives constitute 26.9 per cent., the tens 34 per cent., the twenties 23.3 per cent..



193

COMPXROLLER OF THE CURRENCY.

while the fifties and larger notes are only 15.6 per cent, of the entire
circulation. While the amount of ones and twos of the national-bank
circulation is steadily diminishing, the legal-tender notesof these de->
nominations are as steadily increasing.
Of the entire amount of national-bank and legal-tender notes outstanding, about 7.5 per cent, consists of one and two dollar notes; more
than 30.8 per cent, of ones, twos, and fives; more than 58.3 per cent, is
in notes of a less denomination than twenty dollars, while about 79.6
per cent, is in notes of a lower denomination than fifty dollars. Of the
entire issue about twenty per cent, is in denominations of fifties, one
hundreds, five hundreds, and one thousands. There are also outstanding 479 legal-tender notes of the denomination of five thousand, and
23 notes of the denomination of ten thousand. .
. .
The following table* exhibits by denominations the circulation of the
Imperial Bank of Germany on January 1, 1882, in thalers and marks,
which are here converted into our currency:
Marks.

Thalers.

Number
of p i e c e s .

81
2,195
1, 6 8 2 |
8, 621
8, 932i

V a l u e of
each piece
i n dollars.

Denominations.

375
75
37
18
7

A m o u n t in
dollars
Numberof
(Thaler.=
pieces.
75 c e n t s . )

00
00
50
75
50

thalers.
thalers.
thalers.
thalers.
thalers.

30, 375
164, 625
63. 094
. 16i; 644
66,993

267,588
195, 642
4, 920, 300

486, 731

500
100
50
25
10

5; 383, .530

21, 512

Denominations.

V a l u e of
each piece
in d o l l a r s .

250
125
25

1,000 m a r k s .
500 m a r k s .
100 m a r k s .

•

A m o u n t in
dollars.
(Mark=25
cents.)
66, 897, 000
24, 455, 250
123, 007, 500

214, 359, 750

i

The circulation of the Imperial Bank of Germany on January 1,1881,
was $201,036,187, showing an increase during the following year of
$13,323,563; on January 1,1879, the circulation was $165,933,942, showing an increase during the three years preceding January 1, 1882, of
$48,425,808.
The following tablet gives the circulation ofthe Bank of France and
its branches, with the number of pieces, and the denominations in francs
and in dollars, on January 26, 1882:
"
^
N u m b e r of p i e c e s .

Denominations.

V a l u e of e a c h p i e c e
A m o u n t in francs.
in dollars.
•

.

5
1, 365, 028
688,400
2, 823
9, 626, 652
3, 464, 329
24,110
233, 845
182, 700
1,217

•

: ^ m o u n t i n dollars.
. (Franc=20 cents.)

• 15, 589,109

1, 000
200
100
40
20
4
1

25,000 •
1, 365, 028, 000
344, 200, 000
564, 600
962, 665, 200
. 173, 216, 450
• 602,750
4, 676, 900
913, 500
424, 275

5, 000
273, 005, 600
68, 840, 000
112, 920
192, 533, 040
34, 643, 290
120, 550
935, 380
182, 700
84, 855

2, 852, 316, 675

^ 5, 000 f r a n c s .
1, 000 f r a n c s .
500 francs.
200 f r a n c s .
100 f r a n c s .
50 f r a n c s .
25 f r a n c s .
20 f r a n c s . .
5 francs.
F o r m s o u t of d a t e .

570,463,335

The amount of circulation of the Bank of France on January 27,1881,
was 2,524,081,780 francs, or say $504,-816,356, showing an increase be* London Banker's Magazine, Angust, 1882, p. 62!?;
Mhid., Septeinber, p. 742.

13 F



194

KEPORT ON T H E

FINANCES.

tween that time and, January 26, 1882, the date of the foregoing table,
of 328,234,895 francs, or $65,646,979, and since January 30,1879, an increase of 561,345,845 francs, or $112,269,169.
'
^ '
It will be seen that the Imperial Bank of Germany bas in circulation
no notes of a less denomination than seven dollars and a half (ten
thalers), and issues none of less than twenty-five dollars, (one hundred
marks); and that the Bank of France issues but little over a million
and a quarter of a less denomination than ten dollars. The Bank of
England issues no notes of less than £5, or twenty-five dollars, and the
Irisli and Scotch banks none of less than £ 1 , or five dollars.
REDEMPTION.

Since'the passage of the act of June 20,1874, section 3 of which requires the banks at all times to keep on deposit in the Treasury 5 per
centum of their circulation as a redemption fund, that fund as a rule
has been maintained, and circulating notes of the banks have been
promptly redeemed at the Treasury, without expense to the governnient.
The following table exhibits the amount of national-bank,notes received for reciemption monthly by the Oomptroller of the Ciirrency for
the year ending October 31,1882, and the amount received for the same
period at the redeniption agency of the Treasury, together with the
total amount received since the passage of the act of June 20, 1874:
Keceived by the Comptroller.
Months.

F r o m n a t i o n a l F r o m r e d e m p - N o t e s of nab a n k s for re- t i o n a g e n c y t i o n a l b a n k s U n d e r a c t
i n l i q u i d a - of J u n e 20,
i s s u e or sur- for r e i s s u e .
1874.
tion:
render.

•

Keceived a t
redemption
agency.

• $4,882,846
• 4,790,649

$5, 034, 073
6, 484,104

Total.

1881.
November
December.... ...
1882. •
January
February
March
April
.
May..
June
July...
.
August.
September
October

$3'572, 200
3, 9i9, 600

$20, 000
31, 500
18, 010
84, 500
84,610
58, 400
227, 450
44, 620
93, 350
95, 020
24. 500
100, 650

•

$201, 091 $1,089,555
55, 463
754,086

5, 003,100
5,187, 200
5, 567, 500
4, 747, 800
5, 862, 700
7,138,200
3, 967, 900
4,100, 400
3, 346,200
5, 549, 400

228, 603
253, 553
222, 584
169, 751
265, 364
' 486, 820
280, 685
351, 358
148, 658
. 210,745

"1, 442, 970
1, 272, 610
1, 498,148
1, 045, 863
1, 807, 888
2, 065,193
985, 762
1, 401, 440
1,181, 773
1, 575,185

6, 692, 683
6,797,863
7, 372, 842
6, 021, 814
8,163,402
9, 734, 833
5, 327, 697
5,948,218
4, 701,131
7, 435, 980

8,185, 651
6, 345, 210
6, 671, 918
7, 248, 503
9, 042, 641
8, 980, 367
7, 363, 382
6, 296, 071
5, 640, 717
6, 858,152

57, 992, 200

2, 874, 675

16,120,473

77, 869, 958

84,150,789

Total
R e c e i v e d fiom
J u n e 20,1874, t o
O o t o b e r 31,1881.

•13, 074, 089

429, 748, 255

17,695,793

83, 605, 213

544,123, 350

1,100, 523, 269

Grand total. .

13, 956, 699

487, 740, 455

20,570,468

99, 725, 686

621, 993, 308

1,184, 674, 058

882, 610

^ From the passage of the act of June 20, 1874, to November 1,
1882, there was receiyed at the redemption agency of the Treasury
$1,184,674,058 of national-bank currency for redemption. During the
year there was received $84,150,789, of which amount $30,577,000, or
about 30.3 per cent., was received from banks in the city of New York,
and $8,766,000, or about 10.4 per cent., from banks in the city of Boston.
The amount received from Philadelphia was $6,412,000; from Ghicago,
$4,465,000; Providence, $1,532,000; Baltimore, $1,102,000; Gincinnati, •
$1,430,000; Saint Louis, $1,201,000; Pittsburgh, $929,000. The amount
of notes fit for circulation returned by the redemption agency to the




195

COMPTROLLER OF THE CURREKCY.

banks of issue during the year was $4,017,100. The decrease in this
class of notes has been very niarked in the past five years, the amount
for the year ending October 31, 1878, having been $151,683,200, or 75.4
per cent, of the whole amount received, and for the year only 4.7 per
cent.
Tiie total amount received by the Comptroller of the Gurrency for
destruction from the agency and from national banks direct was
$74,995,283. Of this amount $5,820,140 were the issues of banks in the
city of Kew York, $7,287,443 of Boston, $3,104,471 of Philadelphia,
$2,359,692 bf Providence, $1,170,578 of Baltimore, $1,475,062 of Pittsburgh, $598,100 of Gincinnati, $580,274 of Louisville, $264,530 of Ohicago,
$159,406 of Saint Louis, $404,969 of New Orleans, and of each of the
other principal cities lesS than $400,000.
The following table exhibits the number and aniount of national-bank
notes, of each denomination, which have been issued and redeemed
since the organization of the system, and the number and amount outstanding on November 1, 1882:
•

1

. •

Amount.

Number.

•

Denominations.
Issued.

Ones . . . . . . .. .
23,167, 677
7,747,519
Twos
178, 697, 424
Fives
32, 042, 260
Tens
Twenties
• 9,751,784
Fifties
1, 453, 324
One h u n d r e d s
. 1, 035,118
Five- hundreds
22, 787
One t h o u s a n d s .
7,187
P o r t i o n s of n o t e s l o s t or
destroyed
Total..

Kedeemed.

Outstanding.

• Issued.

22, 353, 877
7, 684,140
50, 313, 233
19, 770, 934
5,551,707
980,182
719,130
20,880
6,990

813, 800
63, 379
19, 384,191
12, 271, 326
4, 200, 077
473,142 ,
315, 988
1, 907
- 197

$23,167, 677
15, 495, 038
393, 487,120
320, 422, 600
195, 035, 680
72, 666, 200
103, 511, 800
11, 393, 500
7,187, 000

. . 153, 925, 080 116, 401, 073

Kedeemed.

$22,
15,
296,
197,
111,
49,
71,
10,
6,

Outstanding-

353,877
368, 280
566,165
709, 340
034,140
009,100
913, 000
440, 000
990, 000

$813 800
126, 758
96, 920, 955
122, 713, 260
84, 001, 540
23, 657,100
31, 598, 800
953, 500
197, 000

-18,233

+ 1 8 , 233

37, 524, 007 1,142, 366, 615 781, 365, 668 ' 361, 000, 947

A table showing the number and denomination of national-bank
notes issued and redeemed, and the number of each denomination outstanding on October 31 for the last fourteen years will be found in the
Appendix.
The following table shows the amount of national-bank notes received
at this office and destroyed yearly since the establishment of the system:
Prior to November 1,1865
. During the year eta ding October 31 1866.
During the year ending October 31 1867 .
During the year ending October 31 1868.
During the year ending October 31 1869 .
During the year ending October 31 1870.
Daring the year ending October 31 1871.
During the year ending October 31 1872 .
During the year ending October 31 1873 .
During the year ending October 31 1874 .
During the year ending October 31 1875.
During the year ending October 31 1H76 .
During the year ending October 31 1877 .
During the year ending October 31 1878.
During t h e year ending October 31 1879 .
During the year ending October 31 1880.
During the year ending October 31 18.81 ,
During t h e year ending October 31^ 1882,
Additional amount of notes of national banks in liquidation.
Total



$175,490
1,050,382
3,401,423
4,602,825
8, 603, 729
14,305,689
24,344,047
30,211,720
36,433,171
49,939, 741
137,697,696
98,672,716
76,918,963
57,381,249
41,101,830
35,539,660
54,941,130
74,917,.611
31,126,596
781,425,688

196

REPORT ON T H E

FINANCES.

RESERAHS

The ibllowing table exhibits the amount of net deposits, and the reserve required thereon by the act of June 20, 1874, together with the
amount and classification of reserve held by the national banks in New
York Gity, in the other reserve cities, and by the remaining banks, at
the dates of their reports in October of each year from 1875 to 1882:
i^EW YOKK CITY.
•I
Classification of reserve
I Keserve held
Keaervji ,
required. I
b'a^l^s'j P - i * Due fromi Kedempo„^^,-„
Amount. Katio to ' ^P*^^^®- Other law- agents. tion fund.
deposits.!
ful money.

L^l'i^.lNetde-

P e r cent.

October 1,
October 2,
October 1,
October 1,
Optober 2,
October 1,
October 1,
October 3,

50.6
49.5
43.7
47.4
52.6
67.0
67.2
63.5

29.1
30. 7
27.5
26.8
25.3
26.4
23.3
25.4

60.5
60.7
48.1
50.9
53.1
70.6
62.5
64.4

MiUions.

MiUions.

54.4
45.3
34.3
36.5
32.6
11.0
10.9
18.9

5.0
14.6 !
13.0 '
13.3
19.4
58.7
50.6
44.5

'

1.1
0.8
0.8
1.1
1.1
0.9
1.0
1.0

OTHEK KESEKVE CITIES.
O c t o b e r 1,
October2,
Octoberl,
O c t o b e r 1,
O c t o b e r 2,
Octoberl,
Octoberl,
O c t o b e r 3,

1875.
188
1876
189
1877.
188
1878
184
1879.
181
1880.
184
1881. . 189
1882
193

223.9
217.0
204.1
199.9
228. 8
289.4
335.4
318.8

56.0
. 54.2
,51.0
50.0
57.2
72.4
83.9
. 79.7

74.5
76.:.
67. r
71.].
83.5
105.2
100. 8
89.1

33.3
35.:.
33. 0
35.6
.36.5
36.3
30.0
28.0

1.5

4.(' 1
5.6 i
9.4 1

11.3 !
28. c; j

34.6 1
28.3

'

32.3
32.0
24.4
29.1
35.7
. 48.2
40.6
33.2

37.1
37.:.
34. r
20.i
33.0
25. (
21.9
24.1

3.6
3.0
3.0
3.2
3.5
3.7
3.7
3.5

53.3
55.4
48.9
56.0
71.3
86.4
92.4
80.1

11.5
10.8
10.7
11.0
11.2
11.3
11.4
11.3

85.6
87.4
73.3
85.:.
107,0
134.6
133.0
113.3

16.2
14.6
14.5
15.3
15.8
1519
16.1
15.8

STATES AND TEKKITOKIES.
Octoberl, 1875.
October 2, 1876.
Octoberl, 1877.
Octoberl, 1878.
October 2, 1879.
Octoberl, 1880.
Octoberl, 1881.
October 3, 1882.

1,851
1, 85J1
1,845
1,822
1, 820
1,859
1,895
2,026

307.9
291. 7
290.1
289.1
329.9
410. 5
507.2
545.8

46.3
43.8
43.6
43.^:
49.5
61.6
76.1
81.9

100.1
99.9
95.4
106.1
124.3
147.2
158.3
150.4

.

32.5
34.3
32.9
36.7
37.7
35.8
31.2
27.5

1.6
2.7
4.2
8.0
11.5
21.2
27.5
30.0

33.7
31.0
31.6
31.1
30.3
28.3
27.1
30.0

8.1
21.3
22.8
30.7
42.2
108.2
112. 7
102.8

125.2
113. ^
. 100. 2
97.0
95.9
64.3
59.9
72. 0

.

SUMMARY.
Octoberl,
O c t o b e r 2,
Octoberl,
Octoberl,
O c t o b e r 2,
O c t o b e r 1,
Octoberl,
O c t o b e r 3,

1875.
1876.
1877.
1878.
1879.
188(i.
1881.
1882.

2, 087
2,089
2,080
2,053
2,048
2,090
2,132
21269

734.1
706.6'
669.:
678.8
768.9
968.0
1, 111. 6
1,118. 6

152.2
147.5
138.3
140. 8
159.3
201.0
227.2
225.1

235.1
236.7
210.8
228.1
260.-9
323.0
321. 6
303.9

32.0
33.5
31.5
33.6
33.9
33.4
28.9
27.2

The following table, compiled from returns made to the clearing-house
by the national banks in New York Oity, exhibits the movement of their
reserve, weekly, during October^ for the last seven years:




COMPTEOLLER

OF

THE

-197

CURRENCY.

K a t i o of r e s e r v e to—

Week ending-

Specie.

Legal tenders.

Total.

o

October 7,1876..
October 14,1876 ..
October 21,1876 .
October 28,1876 .
October 6,1877 .
October 13,1877 .
October 20,1877..
October 27,1877 .
October 5,1878 .
October 12,1878 .
October 19,1878 .
October 26,1878.
October 4,1879.'
October 11,1879 .
October 18,1879 .
October 25,1879 .
October 2,1880 .
October 9,1880 .
October 16,1880 .
October 23,1880 .
October 30,1880 .
October 1,1881.
October 8,1881 .
October 15,1881 .
October 22,1881.
October 29,1881 .
October 7,1882 .
October 4,1882.
October 21,1882.
• October 28,1882 .

17, 682, 600
16, 233, 600
15, 577, 500
14, Oil, 600
14, 665, 600
14, 726, 500
14, 087; 400
15, 209, 000
14, 995, 800
12,184, 600
13,531,400
17, 384, 200
18, 979, 600
20, 901, 800
24, 686, 500
25, 636, 000
59, 823, 700
62, 521, 300
62, 760, 600
60, 888, 200
61, 471, 600
54, 954, 600
'53, 287, 900
51, 008, 300
54, 016, 200
55, 961, 200
47. 016, 000
48, 281, 000
49. 518, 200
48, 374, 200

45, 535, 600
43, 004, 600
41, 421, 700
41, 645, 600
36,168, 300
35,178, 900
35,101, 700
34, 367, 800
38, 304, 900
37, 685,100
36,576,000
35, 690, 500
34, 368, 000
32, 820, 300
29, 305, 200
26, 713, 900
11,129,100
10, 785, 000
10,939,200
10, 988, 200
10, 925, 000
12,150, 400
12,153, 800
12, 452, 700
12, 496, 500
12, 947, 900
18, 384, 500
18, 002, 700
17, 023, 900
17, 204, 700

63, 218, 200
59, 238, 200
56, 999, 200
- 55, 657, 200
50, 833, 900
49, 905, 400
49,189,100
49, 576, 800
53, 300, 700
49, 869, 700
50,107, 400
53, 074, 700
53, 347. 600
• 53, 722,100
53, 991, 700
52, 349, 900
70, 952, 800
73, 306, 300
73, 699, 800
71,876,400
72, 396, 600
67,105, 000
65,441,700
63, 461, 000
66, ,512, 700
68, 909, lOb
65, 400, 500
66, 283, 700
66,542,100
65, 578, 900

Circulation and Deposits.
deposits.
P e r cent.
30.5
28.8
27.8
28.0
27.0
26.7
26.5
26.8
25.7
24.4
24.7
25.8
23.3
23.4
23.5
23.0
25.4
25.4
25.5
24.9
25.0
23.1
23.1
23.2
24.6
25.6
24.0
24.7
25.0
24.8

P e r cent.
.32.4
31.1
30.0
30.3
29.5
29.2
29.0
29.4
28.4
27.0
27.3
28.5
25.8
25.9
26.1
2.5.5
26.4
27.2
27.1
26.6
26.7
• 24.8
24.9
25.0
26.6
27.4
26.3
26.6
26.8
26.5

A P P E N ] OIX.*

Tables will be found in the appendix, exhibiting the reserve of the
national banks as shown by their reports, from October 2,1874, to October 3,1882; the reserve by States and principal cities for October 3,1882 ;
and in the States and Territories, in New York City, and in thie other
reserve cities, separately, at three dates in each year, from 1878 to 1882.
Special attention is called to the synopsis of judicial decisions, to
the numerous and carefully prepared tables in both report and appendix, and to the index of subjects and list of tables to be found at the
close of the appendix. At the end of the full volume of more than
seven hundred pages, which contains separate statements of 2,269 national banks as returned by them for October 3, is an alphabetical list of
the cities and villages in which the national banks are situated.
In concluding this report the Comptroller gratefully acknowledges the
efficiency of the officers and clerks associated with him in the discharge
of official duties.
JOHN J A Y KNOX,
Comptroller of tlie Currenoy,
Hon.

JOSEPH W .

KEIFER,

>

Spealcer of the Souse of BejpresentaMves.
* The appendix, which is .omitted for want of space, raay be found in t h e bound
vol nines of the Comptroller's report.







REPORT OF THE DIRECTOR OF THE MINT.




199




REPORT
/

OF

HE DIRECTOR OF THE MliNT.
TREASURY D E P A R T M E N T ,
B U R E A U OF T H E M I N T ,

October 12, 1882.
S I R : I have the honor to submit my fourth, the tenth annual report
of the Director of the Mint since tbe organization of tbis Bureau, showing the operations of tbe mints and assay offices of the United States
during tbe fiscal year ended June 30, 1882.
'
The receipts of foreign coiu and bulhon declined, and at the close of
the year had almost entirely ceased, yet a large amouut of bullion was
deposited for parting and refining, and the mint^ were fully occupied
in coining the silver purchased for that purpose, and the large amount.
of gold previously received from foreign countries as well as that produced during the year by the mines of the United States.
The import of gold continued to exceed its export during the first
half of the fiscal year, at the close of which tbe excess amounted to
$30,100,230. In tbe latter piart ofthe year tbe niovement was reversed
and the excess of the exports over the gold iraports was $28,311,047,
reducing the net gain during the whole of the fiscal year to $1,789,183.
D E P O S I T S A N D PURCHASES.

Tbe deposits of bulUon and coin, exclusive of redeposits, were, of gold,
$66,756,652.95, and of silver, including purchases, $33,720,491.42, making a totalof $100,477,144.37; of which $17,993^086.03 of gold and
$1,787,385.67 of silver were again cleposited, making the total amount
received and operated upon during the year at all the mints and assay
offices $124,749,738.98 of gold au.d $35^507,877.09 of silver, a total of
$160,257,616.07.
The deposits of domestic production were, gold, $31,298,511.97, and
silver, $30,956,588.18, a total of $62,255,100.15; of foreign coin and bullion, gold, $33,0S8,617.82, andof silver, $2,287,463.17; of United States
coin, gold, $599,356.80, ofsilver, $127,572.40, a. total of ^726,921).20, and
of jewelry, plate, &c., gold, $1,770,166.36; silver, $348,867.67.
COINAGE.

The gold coinage of the mints during both the fiscal and calendar
year was greater than that of any previous year in their history; being
for the latter nearly eleven millions greater than tbe gold coinage-of
the fiscal year 1881, and nearly twenty-seven millions in excess of the
heavy coinage in 1851 of $62,614,492.50.



201

202

REPORT ON T H E

FINANCES.

. At the commencement of the fiscal year the coinage mints and JSTew
York assay office held of uncoined gold bullion $86,548,696.96, and at the
close of the year there remained $53,700,225.57, the amount on hand
having been reduced $32,848,471.39. With this and $66,756,652.95 gold
deposited during the year there were coined 11,266,003 pieces of gold
of the value'of $89,413,447.50, the balance having been paid to depositors
in fine bars and accounted for in the Avastage of the operative officers
and tbe loss on sale of sweeps. About five-sixths ($65,000,000) of the
total gold coinage was in eagles and half eagles. The coinage of double
eagles being $14,563,920; of eagles, $44,369,410, and of balf eagles,
$30,473,955.
. The gold coinage of tlie Philadelphia Mint was nearly all in eagles
and half eagles, the value of the former being $36,700,050 and of tbe
latter $22,971,725.
At the San Francisco Mint little over half of the coinage was in
eagles and half eagles, the denominations coined being, double eagles,
$14,200,000; eagles, $7,400,000; half eagles, $7,250,000. Coinageatthe
San Francisco Mint of a portion of the bullion belonging to the Uuited
States into denominations of $20 has been permitted because of the
greater demand for large coins on the Pacific coast, where the large exchanges and settlements are ^generally efi'ected bythe Actual use of gold,
and less paper is employed forthe purpose than in other portions of the
country.
"
The silver coinage amounted to $27,783,388.75, of wbich $27,772,075
were silver dollars and $11,313.75 were proof silver coins of other denominations.
The total number of pieces struck during tbe year, and their A-alue, were
as folloAvs:
Pieces.
Gold
Silver
Minor

..
'
•

^.

Total

•

11, 266, 003
27, 821, 300
46, 865, 725

$89, 413, 447 50
27, 783, 388 75
644,757 75

85, 953, 028

. . .

A^'alue.

117, 841, 594 00

The coinage of gold, silver,, and minor coins executed during the calendar year 1881 compares with tbe fiscal year 1881-^82 as follows:
Calendar year
1881.' .
Gold
Silver

I...-:
Total

Minor

,
.,
'.

T o t a l coiuage

•

'.
.'

-

Fiscal year
1882.

' $96, 850,890 00
i 27,939,203 75

$89,413,447 50
27, 783, 388 75

i 124, 790, 093, 75
•
428,151 75

117,196, 836 25
644, 7.57 75

' 125, 218, 245, 50

117, 841, 594 00

The stock of 5-cent nickel coins in the Treasury baving become depleted, and there being a demand for such coin, tbe Secretary of the
Treasury, on the 12th day of November, 1881, directed thatthe coinage
of 5-cent nickels be resumed, and tbat the copper and nickel cents
issued under acts in force prior to the passage of the Coinage Act of
1873, beld in the custody of the superintendent of tbe mint at Philadelphia for the Treasurer of the United States, sbould be recoined into




DIRECTOR

OF

THE

203

MINT.

5-cent nickel pieces, of Avhich 4,400,775 pieces, of a A'-alue of $220,038.75,
were^struck during the year. Tbis recoinage has occasioned no loss,
but on the contrary has resulted in a large profit.
BARS.

Gold bars were mf nufactured during t h e year to t h e A-alue of
$37,505,120.04. A t the New York Assay Office, fine bars,of the value
of $12,147,674.90 were prepared for depositors, and bars of standard fineness of the value of $23,739,978.18 AA^ere made for shipment to
the Pbiladelphia Mint for coinage. Fine sih-er bars of the value of
$7,769,898.15 were manufactured for depositors, principally at the JN'ew
York Assay Office.
^
The totah A-alue of fine, standard, and unparted silver bars manufactured at all the mints and assay offices was $8,129,202.94^ and the
total value of both gold and silver bars $45,634,322.98.
BARS E X C H A N G E D

FOR

COIN.

The act, approved on the 26th of May last, authorizing the receipt of
United States gold coin in exchange for gold bars has been found, as
was anticipated, advantageous to the goA^ernment. Under its provisions,
during the month of June, gold bulUon to the valueof $2,697,166.15, in
the form of fine bars suitable for export, was exchanged at the ISTew
York'Assay Office for gold coin, saving to the goA^ernment the expense
of its coinage, as well as of transporting it to Philadelphia and ofthe
resulting coin back to'BewYork. During the months of July, August,
and Septeniber there was a further exchange of gold bullion for coih
to the amount of $3,890,833.91, a total of $6,588,000.06 since the passage
of the law and uj) to October 1.
PARTING

AND

REFINING.

The deposits of bullion for parting and refining were about one million of gross ounces more tban in the, previous year, resulting chiefly
from increased receipts for that purpose at tbe New York Assay Ofiice.
Thefollowing table shows the gross ounces of bullion sent to the acid
refineries of the coinage mints and tbe New York Assay Office, and the
ounces of standard gold and silver received:
OUNCES,
Mint or assaj-- oftice.
Philadelphia
San Francisco
Carson
New Orleans
New York

'

'

Gross.
362, 846. 46 ,
6, 322, 638. 28
621, 55.5. 00
8,'536. 38
•5,139, 768. 00

'

Total

,

12, 45.5, 344.12

S t a n d a r d gold. S t a n d a r d s i l v e r .
101, 008. 620
483,677.714
45. 462. 630
5, 905. 202
563, 926. 000

246, 343. 69
5, 680, 334.17
626, 378.16
1, 425. 57
4, 424, 682. 00

1, 199, 980.166

10, 979,163. 59

VALUE.
Mint or assay office.
Philadelphia
San Francisco
Carson
N e w Orleans
New York

/
....

Total




Gold.
!
•

$1, 879, :^30 14
8, 998, 655 14
845, 816 37
109, 864 13
10,491,640 .51.

.

.

22, 325, 212 29

Silver.
$286,654 47
6, 609, 843 39
728, 876 40
1, 658 84
5,148, 720 84 ..
12, 775, 753 94

. Total.
$2,165, 884 61
15, 608, 498 53
1 574 692 77
'111'522 97
15, 640, 367 35
35,100, 966 23

204

REPORT ON T H E

FINANCES.

DIES AND MEDALS.

Of the dies executed at the Philadelphia Mint, 410 were prepared to
be used.in striking gold coins, 260 for silver, 567 for minor and 30 for
proof coins, and 28 for the striking of medals; a total of 1,295.
Medals Avere made aud sold to tbe number of, in fine gold, 876; silver,
4,522; bronze, 803; a total of 6,201; and proof-sets, of gold, 34 ; silver,
1,112.
SILVER PURCHASES.

The silver bullion purchased for coinage, on hand in the coinage mints
at the commencement ofthe fiscal year, amounted to 3,145,014.83 ounces,
costing $3,191,092.25.
There were purchased during the year, including partings and bullion
received in payment of cbarges, 23,465,452.39 ounces, costing $23,975,165.22. Of tbis amount 23,875,720.37 ounces of standard silver bullion,
costing $24,342,501.60, were used in coining standard silver dollars and
subsidiary proof coins, and 31,524.25 ounces were wasted and sold in
sweeps, costing,$31,992.83, leaA^ing of purchased silver at the close of
the year 2,703,222.60 ounces of standard fineness, costing $2,791,763.04.
The average monthly coinage was 1,988,885 50 ounces of standard fineness, at an average cost of $2,027,777.04.
In addition to the purchases at the mints, 161,776.98 standard ounces
were obtained at the New York Assay Office, at $1 per standard ounce,
in payment of charges, making the total receipts of silver by purchase
during the year as follows:
S I L V E R B U L L I O N P U l l C H A S E S . 1882.

P a i t i n f f s a n d re- i
ceiA'ed t o r c h a r g e s . ,

Purchases.

Total purchased.

M i n t or a s s a y oftice a t _
w h i c h delivered.
Standard
ounces.
Philadelphia
San F r a n c i s c o . . . N e w Orleans
Carsou City
"
New York
Total

Cost.

9, 236,104.16 $9, 453, 878
': 8, 722,- 938. 89 8. 889, 764
,. 4, 516, 965. 37 4, 626,194
'
859, 709.12
875, 606

; Standard
: ounces.

Standard
ounces.

Cost.

Cost.

821 32, 818. 68 $32, 804 33 9, 268, 922. 84$9,486, 683 15
S3 92, 963. 37 92, 963 37| 8, 815, 902. 26 8, 982, 728 20
29' 1, 391. 47 1, 391 471 4, 518, 356. 84 4, 627, 585 76
862, 270. 45
878.168 11.
78 2, 561. 33 2. 561 33i
161, 776. 98
161, 776 98
1161,776.98161,776 98

: 23, 335, 717. 54 23, 845, 444 72 291, 51L 83|291, 497 481 23, 627, 229. 37
24,136, 942 20

I

I

!

In the weekly purchases it has been the purpose to obtain not less
than $2,000,000 worth of silver bullion for each month.
Where tbis has not been the case, it Avas either on account of the failure
of sellers of silver to deliver their bullion promptly during the month in
which it was purchased, or from the fact that sufficient silver Avas not
ofiered at rates not exceeding tbe market price. Tbe table of purchases
during tbe year sbows, however, a montbly delivery aud coinage averaging OA^er $2,000,000 Avorth of silver bullion, and a compliance with tbe
. provisions of tbe law as far as practicable.
The average price paid during the yearfor silver bulhon was $1.02.15
per ounce standard.. The average London quotation for silver bullion
df Britisb standard was 51^f pence per ounce,'equivalent at the par of
exchange to $1.13.623 per ounce fine, or $1.02.26 per ounce standard.
The New Yoiii.i$elling price of silver during the year Avas $1.13.799 per
ounce fine, or $1.02.419 per ounce standard. No ofiers of silver were



DIRECTOR OF THE MmT.

205

accepted or purch^es made at rates in excess of the\ equivalent of the
London price on the date of purchase.
The difficulties heretofore experienced in supplying the New Oiieans
Mint with silver at market rates haA^e been overcome, and purchases of
silver bullion are now made for delivery at that inint at rates little, if
any, in excess of the price paid for delivery at the Philadelphia Mint.
It was tberefore deemed expedient to keep the New Orleans Mint well
supplied with sih-er bullion and employed in the coinage of silver dollars. This enabled the Philadelphia Mint to meet the requirements of
the Treasury and of the public for gold and minor coins, and relieved
it from the necessity of increasing its sih-er coinage Avhen the high prices
.asked for silver bullion at San Francisco prcAT^ented the mint at that
place from obtaining a supply.
The Secretary of the Treasury, on the 30th of January, 1882, authorized the superintendents of the coinage mints to purchase mutilated and
uncurrent sih-er coin when delivered in sums of $3 and upwards and
to pay, Avithout preyious melt or assay, at the rate of $1 per ounce of
silver of standard fineness contained, the coins so purchased to be used
in the coinage of the standard sih-er dollars. The mutilated and uncurrent silver coin presented in sums of $3 and upward, from the 1st of
February to June 30, 1882, have amounted, as nearly as can be ascertained, to about $29,000.
The ^ssayers in charge of the United States mint at Denver and of
the assay offices at Helena, Charlotte, Boise, and Saint Louis were authorized, under date of February 7, 1882, to purchase the silver taken
for assay of silver bullion deposited for unparted bars and to pay for
the same in coin at the rate of $1 per ounce of standard silver, and the
bullion thus purchased to be transmitted by them, with other bullion,
to the coinage mints, to be used in the coinage of the standard silver
dollars.
The profits on the silver bullion coined during the year and credited
to the silver profit fund amounted to $3,440,887.15. Of this sum
$3,438,829.41 were profits oh the coinage of standard silver dollars, and
the remainder, $2,057.74, were profits on the fractional silver coined.
Fractional silver coins ofthe nominal value of $11,313.75 were struck
at the Philadelphia Mint by.the superintendent's orders, to enable him
to supply numismatists and others desiring to keep up complete collections of the coinage.
Of the profits on the coinage of sih-er $2,554,729.33 were deposited
in the Treasury during the year, together with $1,101,645.43 standing
to the credit of that account at tbe commencement of the year; $64,026.11
were paid for transportation, and $15,055.99 for wastage and loss on sale
of sweeps, leaAang a balance to the credit of the silver profit fund in
. the niints, on June 30, 1882, of $807,075.72, which sum has since been
deposited in the Treasury.
DISTRIBUTION.

The following statement exhibits the balance on hand June 30>, 1881,
coinage and distribution of silver dollars at each mint, being compiled
from statements made to this Bureau, from which it will be seen that
the amount distributed during the year from the mints aggregates
$15,747.463:
•
.




206

REPORT ON T H E

FINANCES.

AMOUNT of SILVEB DOLLARS REPORTED hi) the COINAGE MINTS on HAND
Jnne 30, 1881, COINED during the year and on HAND at the'CLOSE of the FISCAL
YEAR ended June 30, 1882.

Period.

Philadelphia.

San Francisco.

Carson.

N e w Orleans.

Total.

$1, 060, 991
763, 000

8,132
8,000

$23, 341, 060
27, 772, 075

26,941,135
25,114, 407

1, 823, 991
1, 260, 901

10, 046,132
4, 742, 295

51,113,13535, 365, 672

1, 826, 728

563, 090

5, 303, 837

15, 747, 463

On h a n d J u n e 30, 1881 . .
Coinage'fiscal y e a r 1882.

$1, 250, 802 $15, 941,135
11, 051, 075 11, 000, 000

Total
I n raints J u n e 30, 1882.

12, 301, 877
4, 248, 069

Distributed .

Of the $27,772,075 coined during the year, $12,025,783 had not at the
close of the year been called for or moA^ed from the mints,.and of the
total standard dollar coinage there were still in the mints $35,365,672.
From the monthly statement of assets and liabilities the folloAving
table exhibits the coinage, movement and circulation, h j periods of six
months each, from July 1, 1882, to October 1, 1882:
COMPARATIVE STATEMENT ofthe COINAGE, MOVEMENT and CIRCULATION
of STANDARD SILVER DOLLARS at the end of each six nionths from July 1, 1881,
to Jilly 1, 1882, and for the three months ending Septemher 30, 1882.
I n the Treasury.

I
Period.

, J u l y l , 1881
J a n u a r y 1, 1882
J u l y l , 1882
O c t o b e r 1, 1882.

T o t a l coinage.

9 M .

$91, 372, 705 539,110, 729 $23, 433, 993 $62, 544, 722
105, 380, 980 62, 315, 320 .7, 274, 617 69, 589, 937
119,144, 780 54, 506, 090 32; 647, 726 87,153,816
126, 029, 880 63, 205, 780 29, 022, 869 92, 228, 649

$28,
35,
31,
34,

827,
791,
980,
007,

983
043
964
Oil

The amount of silver dollars put into circulation from the New Orleans Mint exceeded the coinage of the year at that mint about $400,000,
while at the Philadelphia Mint it was $3,000,000 less, at the San Francisco Mint over $9,000,000 less, and at the Carson Mint $200,000 less
than the yearly coinage of these mints respectively.
APPROPRIATIONS, EARNINGS, AND E X P E N D I T U R E S .

The total amount appropriated for the supportof the mints and assay
offices for the fiscal year ended June 30, 1882, was $1,209,000, of which
amount the sum of $1,176,265.21 Avas expended. In addition thereto
there was expended from the appropriation contained in the act authorizing the coinage of the standard silver dollar, passed February 28,
1878, the sum of $137,559:61 on account of the mints, and $2,173.37 at
the Treasury Department, a total of $139,732.98. Of this amount
$10,124.89 was paid for four automatic weighing machines, two of them
to be used at Philadelphia and two at San Francisco.




DIRECTOR. OF T H E

2'07

MINT.

The appropriations for the several niints and assay offices, and the
amounts expended from them, are shown in the following table :

• A

Philadelphia Mint.;
San F r a n c i s c o M i n t
Carson M i n t . . .
N e w Orleans Mint'
Denver Mint
]t»re"\v Y o r k A s s a y Ofiice
H e l e n a A s s a y Office B o i s e A s s a y Oftice
....
C h a r l o t t e A s s a y Ofiice
S a i n t L o u i s A s s a y Office
Total

.

i

. .

...

$34, 850
24, 900
23, 550
21,400
10, 950
33,150
5, 950
3, 000
2, 750
5, 500

1

Contingent.

Salaries.

Institution.

Coinage of the standard s i l v e r dollar,
act of. February 28,
1878 (indefinite).

A P P R O P R I A T I O N S , 1882.

00 $300,000 00 $100, 000 00
70, 000 00
00 260, 000 00
30, 000 00
65, 000 00
00
35, 000 00
85, 000 00
00
12, 000 00
00
6, 000 00
00
25, 000 00
9, 000 00
00
12, 000 00
10, 000 00
00
6,000 00
00
2, 000 00
00
*.16, 000 00

166,000 00

759, 000 00

284, 000 00

.

Total.

$434, 850
354, 900
118 550
141 400
28, 950
67,150
27 950
9, 000
4 750
21 500

00
00
00
00
00
00
00
00
00
00

1, 209, 000 00

E X P E N D I T U R E S , 1882.
Philadelphia Mint
San F r a n c i s c o M i n t
Carson M i n t
N e w Orleans M i n t . :
Denver Mint
N e w York" A s s a y Office
H e l e n a A s s a y Office
Boise A s s a y Office
• C h a r l o t t e A s s a y Office .
S a i n t L o u i s A s s a y Office

$33, 424 72 $299, 999
24, 900 00 259, 896
23,550 00
64,237
19, 974 14 84, 994
10, 950 00 10, 497
33, 073 59 24, 830
5, 950 00
9, 744
3, 000 00
2, 750 00
2, 999 80

Total

160, 572 25

27
42
00
95
75
25
79

754, 200 43

$99, 999
62, 892
28, 474
34, 637
4,125
8, 988
6, 756
5, 233
1, 503
18, 880

38 $121, 619 30
46
12, 417 76
85
30
3, 522 55
68
32
77
62
30
85

261, 492 53

137, 559 61

$555, 042
360, 106
116, 261.
143,128
25, 573
66, 892
22,451
8,233
4, 253
11, 880

67
64
85
94
43
16
56
62
30
65

1,313,824 82

* I n c l u d e s $10,000 for fixtures a n d a p p a r a t u s . .
t I n c l u d e s $6,896.11 for fixtures a n d apxiaratus.

In the appendix will be foun^ a statement showing the total earnings and gains from all sources at the mints and assay offices during
the year, and the total expenditures, wastages, and losses of all kinds.
The gross earnings amounted to $4,268,742.56, and the gross expenditures and losses to $1,689,541.68.
A statement is also giA^en showing the"Avastage of the precious metals
at each of the niints during the year and the loss occasioned by the sale
of bullion in sweeps. V
,
;
The total value of the precious metals wasted during the year at the
four coinage mints ahd the New York Assay Office was only $36,658.93 ;
while bullion of the value of $16,685.28 was returned by the melter and
refiner of the mint at San Francisco in excess of the amount with
which he was charged, and by the melter and refiner at the New York
Assay Office of the value of $21,729.15, making a total gain of $38,414.43,
or a net excess over and aboA^e the entire amount of bulhon wasted of
the value of $1,755.50 ; showing that on the large amount of gold and
silver bullion operated upon at the mints of the United States and the
New York Assay Office, there Avas an absolute gain of over seventeen
hundred dollars.
The loss on the sale of sweeps is not, strictly speaking, a loss in the




208

REPORT

ON T H E

FINANCES.

ordinary operations of the niints, but represents the difierence between
the value of the gold and silver contained in sweepings, as determined
by assay, ahd the price received for the sweeps, which are'sold because
the mints, with their inadequate facilities for working such material,
cannot extract gold and silver of sufficient value, less expenses, to equal
the sum which smelters will pay for them.
REFINERY

EARNINGS AND E X P E N D I T U R E S .

The charges collected during the year for parting and refining bullion, which by law are appropriated for the payment of the expenses of
those operations, amounted to $278,882, of which the sum of $264,609.56
was paid out for expenses.
The following statement shows the amounts collected and expended
for parting and refining bullion, including that portion ofthe wastages of
the operative officers and the loss on sweeps sold, properly payable from
that fund: .
Institution.
Philadelphia Mint
-...
San Francisco Mint
Carson Mint
New Orleans Mint
New York Assay Office.

Charges collected.

Exiienditures.

$10, 850 97
158, 200 21
14, 749 24
176 10
94, 905 48
278, 882 00

Total.

$6, 518 51
154, 864 62
15, 320 61
252 26
87, 653 56

264, 609 56

The net excess of the earnings of the refineries OA^er the expenses
froni the first of July, 1876, to June 30,1882, remaining in the Treasury
of theUnited States, amounted on the first day of July last to $153,311.80.
This is a very satisfactory exhibit, especially in view of the fact that
tbe rates charged for parting and refining at some of the mints had been
reduced and Avere less than in previous years, and shows that the refineries have been more than self-supporting.
The charges for parting and refining collected during the year at each
institution were sufficient to defray the expenditures of those operations,
except at Carson and New Orleans. The slight deficiencies at those
mints were occasioned in part by the paynients of bills accruing in former years, and will not, it is believed, necessitate an. increase in the
rates of charges.
•
ANNUAL- ASSAY.

The annual assay to test the weight and fineness of the coiiis struck
at the mints during the calendar year 1881 was made at the Philadelphia Mint on the second Wednesday of February last, as required by
' law. Assays Avere made and the weights tested of the reserved coins
' from deliveries in each month throughout the year, and the results were
reported by the committee on weighing '^ that all the coins weighed are
within the limits of exactness required by law, and that, in fact, very
few A^ary from the standard by one-half the tolerance"; and by the committee on assaying that they had taken the gold and silver coins reserA^ed-from the several niints '' and li^ive assayed the same in mass, and
' also the individual coins,'' and that—
The greatest deviation from the^standard in t h e coinage examined is far within t h e
limits allowed by law, and exhibits a remarkable degree of nniformity in mixture^




DIRECTOR

OF T H E MINT.

209

\^
while there appears a very great perfection of workmanship. An analysis of the copper alloy present shows that it is substantially in accordance with t h e law and regulations.

Whereupon it was resolved by the commission—
That the assay commission having examined and tested the reserved coins of the
several mints for the year 1881, and it appearing t h a t these coins are within t h e tolerance prescribed by law, the trial is considered and reported as satisfactory.
ESTIMATION OF THE YALUES OF FOREIGN COINS.

The estimation of the Director of the Mint and the proclamation of
the Secretary of the Treasury, on the 1st day of January, 1882, of the
values of standard coins in circulation of the various nations of the
world will be found in the appendix.
The valuation of foreign coins estimated in the circular of January 1,
1882, was based upon the average price of silver bullion for the last three
months of 1881 to December 29.
The average price was 51.886 pence per ounce British standard, and
the equivalent price 113.74 cents per fine ounce.
Upon this basis the following changes were made in the values of silver coins from those estimated by the circular of January 1,1881: The
Austrian florin, from 40.7 cents to 40.6 cents; the Japan yen, from 88.8
<ients to 88.7 cents. The -^gourde" of Hayti was estimated to be AVorth
96.5 cents.
EXAMINATIONS AND ANNUAL SETTLEMENTS.

An account was taken at each of the mints and at the New York Assay Office at the close of the fiscal year of the coin, bullion, and other
moneys belonging to those institutions in the hands of the superintendent, and delivered to him by the operatiA^e officers.
The annual examinations of the operative officers were superintended
by the Director or a representative of the Bureau, and were found satisfactory, the wastage in no case exceeding the legal limits.
The gold bullion operated upon in the melter and refiner's departments in the mints and New York Assay Office amounted to 14,618,071
standard ounces, on which the legal allowance for wastage was 14,618
standard ounces, and the actuaf wastage 835.27 standard ounces. Of
silver bullion 54,540,070 ounces of standard fineness were operated upon,
on which the legal limit of wastage was 81,810 ounces, and the actual
wastage 7,996 ounces.
In the coiner's departments, 10,616,313 ounces of gold of standard
fineness were operated uiion, on which the legal limit of wastage was
5,308 ounces, and the actual wastage 470 ounces. Of silver bullion
47,293,782 ounces were operated upon, upon which the legal limit of
Avastage was 47,293 ounces, and the actual wastage 4,279 ounces.
The total wastage at allthe institutions during the year was 1,305.27
ounces of gold, of the value of $24,306.30, and 12,275 ounces of silver, of
the value $12,352.63.
Besides the annual settlements, special examinations were had at the
San Francisco and New Orleans Mints to ascertain the facts in respect
to charges afi'ecting their management, and the result of the examinations, Avith the evidence, were submitted to the Secretary of the Treasury.
A special settlement also was made at the close of the calendar year
at the New York Assay Office, haAdng been rendered necessary by reason of the resignation of the superintendent, Thomas C. Acton, and the
appointment of Pierre C. Yan Wyck as his successor.
14 F



210

REPORT ON THE FINANCES.

REVIEW OF THE MINT SERVICE.
-Besides the current office work of this Bureau in supervising the
operations of the mints and assay offices, tbeir contracts, purchases,
and expenditures, in examining their monthly and quarterly accounts,
and their daily, Aveekly, and nionthly reports, their business transactions, coinage,'&c., much time was given to the procuring and compiling of statistical information concerning the production of the precious
metals in theUnited States and the preparation o f a special report
thereon.
At the laboratory of the Bureau 166 deliveries of gold coins and 168
silA^er coins Avere tested by assays of the coins forwarded from the
mints for that purpose, and assays Avere made of. ores received at this
office from various portions of the country, the receipts for which,
amounting to $261, w^ere deposited in the Treasury.
The business of the mints and assay offices has been conducted with
fidelity and skill, and to tbe general satisfaction of the public. While
less gold bullion was received and handled than in the preceding year,
the work of the coinage niints and the New York Assay Office in parting, refining, and coining bullion was greater. The receipts of bullion
from the public and deliveries to and from the operatiA^e officers involved
transactions and accounts, accompanied by vouchers, Avhich receiA^ed
careful examination in the Mint Bureau as well as in the accounting
offices of the Treasury Department.
P H I L A D E L P H I A MINT.

At this mint, besides striking a large number of silver coins and an
unprecedented coinage of gold, there was a continuous demand for
minor coins, of .which, during the year, 4,400,775 five-cent pieces and
42,461,475 one-cent pieces were coined. The total number of pieces
coined at the mint in 1882 was 66,236,475, being 11,500,000 more than
in the preceding year.
The demand for small coins, as has been noticed in other countries,
increases with business activity, and is a favorable indication of tbe
frequency of actual exchanges and of a prosperous condition of the
country.
A greater amount of gold and silver was operated upon by the melter
and refiner and by the coiner than in any prcAdous year.
The heav}^ coinage of gold and of minor coins at the Philadelphia
Mint has continued to require large expenditures, and to defray a considerable portion of the expense of the silver coinage has necessitated
the use of tbe appropriation contained in the act for the coinage of the
standard silver dollar. It is believed, however, tbat as the gold coinage
will be diminished, tbe efficient superintendent of that mint will, have
efi'ected, and at the close of the year will be able to show a considerable
reduction in the expenses of the mint.
SAN FRANCISCO MINT.

This mint at its annual settlement made a favorable exhibit of its
condition and operations, and appeared in all its departments to be in
excellent order. The coiner had a small wastage. The melter and refiner's settlement was quite satisfactory aud creditable to him. He returned an excess of $16,685.28 in gold and $1,560.43 in silver above tbe
amount cbarged to him.
The work of this mint in coinage was about the same as in the previous
year, 13,900,000 pieces haAing been struck in 1882, and 14,234,000 in 1881.
Although the value of the gold coinage in 1882 was less, the number of



DIRECTOR

OF THE MINT.

211

pieces executed Avas 334,000 greater than in 1881, while the silver coinage^,
which was wholly of silver dollars, was $460,000 less.
Some official changes occurred during the year. At the commencement Mr. E. F. White superseded F. X. Cicott as coiner, and the suiier^
intendency of the mint, which for over four years had been under the
able and careful management of Mr. H. L. Dodge, was at the close of theyear surrendered to Mr. E. F. Burton, who, although previously appointed
and commissioned, preferred not to enter upon duty until after the annual settlement and with the commencement of a new fiscal year.
CARSON MINT.

The difficulty in procuring silver for coinage was less than that experienced in former years, and coinage operations, which had been pre«
viously suspended, were resumed in the month of October and continued during the remainder of the ,year.
The refinery was kept open during the Avbole year for tbe purchase
of silver and reception of deposits for parting and refining.
The work performed at the Carson Mint, as to the value of the deposits, number of pieces, and value of the coinage, was nearly double
that of the preceding year.
The annual settlement made at the close of the fiscal ye^ir Avas satis-^factory.
NEAV ORLEANS MINT.

Less silA^er was purchased for.coinage at the New Orleans Mint thmia
in the preceding year, and although there was a greater coinage of gold^
the number of pieces and value of the silver coinage was about a milb
ion and a half dollars less than the previous year.
At the cominencement of the year the coiner, Mr. J. W. Helffrich, resigned. Mr. B. F. Butler, his assistant, was designated by the Secretary as acting coiner, and had charge of that department of the min4
until appointment of Mr. F. K. Jones, February 10, 1882, who, as soon
as confirmed, was placed in charge.
NEW YORK ASSAY OFFICE.

Mr. Thonias C. Acton, the superintendent of the New York Assay
Office, whose administration of its afi'airs for over twelve-years had beeii
characterized by a most faithful, efficient, and economical management^
having been tendered a more responsible official position, resigned the
superintendency and delivered the office at the close of the calendar year
to bis successor, Mr. Pierre C. Yan Wyck. During the year deposits
amounting to $35,994,087 in gold and $7,168,260 in silver were receiA^ed>
The silver deposits were nearly $2,000,000 in excess pf those of the preceding year, while the gold deposits were upwards of $63,000,000 less im
amount, owing to a decrease in imports of foreign bullion and coin.
Bars were manufactured to the value of, gold, $35,887,653.08, and silver, $7,092,393.25, being about $64,000,000 less of gold bars and about
$2,000,000 more of silver bars.than were made in the previous year.
DENVER MINT, AND ASSAY OFFICES AT CHARLOTTE, HELENA, BOISEj,
AND SAINT LOUIS.

The value of the gold and sih-er bullion deposited at these institutions, and of the unparted bars manufactured, was much greater than
in the preceding year.



212

REPORT ON T H E

FINANCES.

The charges collected for melting, assaying, and stamping.bars Avere
$1,694.07, and for assays of ores, $2,138. The total earnings of all the
institutions were $4,955.72, some $700 less than in the previous year.
The increased value of the deposits and of the bars manufactured
arose from a greater amount of bullion being received and bars manufactured at the Denver Mint and Helena Assay Office, the deposits of
gold at the former having increased from $235,137.15 to $458,847.07;
silver, from $3,805.77 to $7,053.02; and the A-alue of bars manufactured
from $238,942.92 to $465,900.09.
The growth of business at Helena was, in deposits of gold, from
$568,525.13 in 1881 to $684,475.53 in 1882, and in silver deposits from
$84,314.97 to $145,306.05, and in the value of bars manufactured from
$652,840.10 to $829,781.58.
MONETARY STATISTICS OF THE UNITED STATES.

" Since submitting my last annual report inquiries relatiA'^e to the production, import, export, and consumption of the precious metals, and to
their circulation as money, have been, as heretofore, diligently prosecuted, and much valuable information.obtained.
The facts that have been gathered are here classified and summarized,
and the more important tabulated for convenient comparison or reference.
PRODUCTION

OF

T H E PRECIOUS METALS IN THE UNITED STATES
FOR THE FISCAL YEAR 1882.

At the close of the calendar year 1881, after an extended review of
the production of gold and silver in the mining districts and counties
in the States and Territories, a careful estimate was miade of the total
production of the United States and published in the special report
transmitted by the Secretary of the Treasury to Oongress in June last.
I then estimated the total production for the calendar year 1881 to
have been, of gold, $34,700,000, and of sih-er, $43,000,000; a total of
$77,700,000. The production by States and Territories was estimated
to have been as folloAvs :
Production of gold and silver in the United States during the calendar year, 1881 hy States
and TeiTitories.
Gold.
Alaska
Arizona
California
Colorado
Dakota
Georgia
. Idaho
Maine...
:..,
Montana
Nevada
N e w Mexico . . .
iN'orth C a r o l i n a .
Oregon
Soutli Carolina.
Tennessee
Utah
Virginia
AVashington
Wyoming

Total.




$15, 000
060, 000
200, 000
300, 000
000, 000
125, 000
1, 700, 000

1,
18,
3,
4,

2, 330, 000
2, 250, 000
185, 000
115, 000
1,100,000
35, 000
5,000
145, 000
10, 000
120, 000
5,000

Silver.

$7, 300,
750,
17,160,
70,

000
000
000
000

1, 300, 000
5,000
2, 630, 000
7, 060, 000
275, 000
50, 000
6, 400, 000

34, 700, 000 43, 000, 000

Total.
$15, 000
8, 360, 000
18, 950, 000
20, 460, 000
4. 070, 000
125,000
3. 000, 000
5,000
4, 960, 000
9, 310, 000
460, 000
115, 000
1,150, 000
35, 000
5,000
6, 545, 000
10, 000
120, 000
5,000
77, 700, 000

213

DIRECTOR OF THE MINT.

The production of gold had declined and that of silver increased over
their production in previous years. From the deposits made at the
mints and the exports of domestic bullion there appears to have been a
still further falling off in the production of gold and an increase in tbat
of sih-er.
The deposits of domestic gold at the mints and assay offices during
the calendar year 1881 amounted to $34,271,359.46, and cluring the fiscal
year 1882 to $31,298,511.97, a falling otf of about three millions of dollars. This decline appears to have been in the production of the States
on the Pacific slope. The deposits of domestic gold at the San Francisco and Carson Mints, which amounted to $26,011,017.50 in the calendar year 1881, during the fiscal year amounted to only $22,708,663.44, a
decbne of $3,302,354.06.
During the calandar year 1881 the deposits and purchases of domestic
silver were $27,899,213.12, while during the fiscal year ended June 30,
1882, they had increased to $30,956,588.18, a gain of over three millions
of dollars; but the exports of domestic sih-er, which in the calendar
year were reported, at their commercial value, at $12,796,280, were
reduced in the fiscal year to $11,653,547, a decline in the export of
domestic silver bullion, computed at its coining value, ofabout $1,300,000,
leaAdng the net gain in the silver production for the year over that of
the preceding year about $1,700,000. Making allowance for the same
amount of domestic undeposited gold and silver used in the arts during
the fiscal year as in the calendar year, the total production for the fiscal
vear may be approximately estimated at $31,500,000 for gold and
$44,700,000 for silver.
CONSUMPTION OF THE PRECIOUS METALS.

As the inquiries prosecuted for three years to ascertain the amountof
gold and silver annually used in the United States in manufactures, the
arts, and ornamentation had resulted in obtaining for the year 1881
sufficient data for future approximate estimates, no circulars were sent
for obtaining information as to the amount used during the last fiscal
year. I t was estimated in last year's report that there were annually
consumed in the United States for industrial purposes $11,000,000 of
of gold and $6,000,000 of silver, of which amounts $5,500,000 of gold and
$5,000,000 of silver were estimated to be domestic bullion.
A report was obtained, as usual, from the New York Assay Office,
which is pubhshed in the appendix, and shows the following as the
amount and character of the gold and silver deposited for bars to be
supplied to manufacturers:
Bars furnished to manufacturers.

Gold.

Total g o l d
a n d silver. '

Silver.

•

Of I J n i t e d S t a t e s coin
Of forei""n coin

.

Of p l a t e , &;cOf d o m e s t i c b u l l i o n
Total

$45, 511
532,154
843,281
690, 063
5, 206, 075

06
28
26
81
85

7, 317, 086 26

$15, 867
154, 522
192, 226
191, 719
5, 444, 111

73
07
35
33
16

5, 998,446 64

$61, 378
686 676
1,035 507
881,783
10, 650,187

79
35
61
14
01

13, 315, 532 90

The statement shows that the bars prepared and delivered for tbe
use of manufacturers exceeded in value those of the prcAdous year by,




214

REPORT ON T H E FINANCES.

gold, $1,500,000, and sih-er, $870,000; and that the increased consumption consisted of gold and silver of domestic production.
For the fiscal year 1882 the consumption, tberefore, of the precious
anetals in the United States for use in the arts, &c., probably exceeded
$12,000,000 of gold and $7,000,000 of silver, of which $7,000,000 of gold
sind $6,000,000 of silver were of domestic production.
COIN CIRCULATION OF THE UNITED STATES.

The total circulation of the United States coin amounted, as nearly
as can be ascertained, on the 1st of July, 1882, to $500,000,000 of gold
and $200,000,000 of silver, a total of $700,000,000.
This estimation is based upon the gains to the metallic circulation by
•coinage less recoinage, and iniports less exports of United States coin
since 1873, at which time I estimated tbe circulation of United States
gold coins at $135,000,000, and of United States silver coins at $5,000,000.
The circulation was estimated in my last annual report to have been,
OT the 30th of June, 1881, $439,776,753 of gold and $171,459,766 ofsilver.
During the year $599,357 of United States gold coin and $127,572 of
United States sih-er coin were deposited at the mints and remelted.
There were also exported of United States gold coin $29,805,289, and
imported $4,796,630, being an excess of exports OA^er imports of
$25,008,659. Of silver coin the imports were $940,877, and the exports
$423,099, being an excess of imports OA^er exports of $517,778. Subtocting from the total gold coinage of the year the recoinage, the excess of exports OA^er imports, and the coins used in the arts, not deposited at the mints or assay offices, estimated at $2,700,000 (based on last
year's estimate of $3,300,000 as the total consumption of such coins),
makes the gain during the year in United States gold coin $61,005,432,
and the total aniount i n ' the country on tbe 1st of July, 1882,
$500,882,185.
In like manner, subtracting from the silver the deposits for recoinage,
mid the estimated consumption of $60,000 undeposited sih'er coins used
in the arts, and adding the excess of imports OA^er exports, makes the
l>'ain to the silver circulation during the year $28,113,594, and the total
silver circulation of United States silver coin on the 1st of July, 1882,
$199,573,360.
The folloAving table shows the gain during the year:
United States coin.
Circulation, June 30,1881
Year's coinage, less deposits for recoinage.
;i}xcess of imports over exports
Total
:lLess excess ofexports over imports.
Remainder
liCSS amounts used in the arts.
Circuiatiou July 1,1882..

Gold.

Silver.

I, 776, 753 $171, 459, 766
i, 814, 091
27, 655, 816
517, 778

Total$611, 236, 519
116, 469, 907
517, 778

528, 590, 844
25, 008, 659

199, 633, 360

728, 224, 204
25, 008, 659

503, 582,185
2,700,000

199, 633, 360
60, 000

703, 215, 545
2, 760, 000

500, 882,185

199,573,360

700, 455, 545

From the Treasurer's statements of the amount of coin in the Treastiry, and gold and silver certificates outstanding, and from the reports
of the national banks to the Comptroller ofthe Currency, and certificates
lield by them, it would appear that on the 1st of July, 1882, the gold and
:silver of the country, deducting from the amount held by the Treasury



DIRECTOR

OF T H E

215

MINT.

the certificates outstanding and counting as coin those held by banks
and in circulation, belonged as follows:
Silver.
Belonging to—

Gold.
Legal tender. Subsidiary.
* $86, 935, 483 * $32, 647, 726
1103, 943, 999
I 4, 000, 000
: 20, 000, 000 ?
U 290, 002, 703 ) ' 32,497,054

Treasurv
Natioual banks
Other ban ks.
Private hands
Total . . .

.

...

500, 882,185

119,144, 780

* Less outstanding certificates,
t Including Treasury certificates.

Total.

Total United
States gold
and silver
coins.

$28, 04.8, 630 1 $60, 696, 356 * $147, 631, 839
+ 3,750,263
17,750,263 t 111, 694, 262
48, 629, 687 131,126, 741 11441,129,444
80, 428, 580

199, 573, 360

700, 455, 545

t Estimated.
T Including Treasury certificates.
T

Since the 1st of July and up to October 1, 1882, the coinage of gold
was $13,339,863, and of silver, $6,915,185; the excess of exports of gold
coin OA^er imports about $2,031,012, and of imports over exports of
sih-er coin, $121,225; leaAang the circulation on the 1st instant of United
States coins, gold, $512,191,036, and sih-er, $206,609,770, and total of
$718,800,806, as appears from the following statement:
Gold.
Circulation July 1,1882
,
Coinage to October 1,1882
Excess of imports over exports to October 1,1882 .
Total
* Less excess of exports over imports
Circulation October 1, 1882

Silver.

$500, 882,185 $199, 573, 360
13, 339, 863
6, 915,185
121, 225

Total.
$700; 455, 545
20, 255, 048
121, 225

514, 222, 048
2, 031, 012

206, 609, 770

720,831,818
2,031,012

512,191, 036

206, 609, 770

718, 800, 8.06

* All ports for July and August, only J!^ew York and San Francisco for September.

Besides this aniount of gold and sih-er coin, there was in the mints
and assay offices on the 1st of October, deposited or purchased for coinage, gold bullion of the value, approximately, of $51,440,420, and silver
bullion costing $3,343,565, inaking a total of coin and buUion belonging
to the United States and awaiting coinage, of gold, $563,631,456, and of
silver, $209,953,335, a total of $773,584,791.
TOTAL CIRCULATION OF THE UNITED STATES.

The total iiaper and metallic circulation of the United States in G-eneral Table No. XXXI, showing the circulation ofthe various countries
ofthe world, is given for October 1, 1882, as $793,074,878 paper, and
$773,585,790 metallic,* a total of $1,566,659,668, being a per capita of
$15.81 paper and $15.42 metallic.
: The paper circulation of the United States in that table includes
United States notesf national-bank notes, and gold and silver certificates, fractional currency to the amount of $7,028,078, omitting the small
amounts of unredeemed legal tender, demand, and interest-bearing notes,
Avhich are seldom if ever seen in actiA^e circulation.
As onl}^ a portion of the paper and metallic money is in actual circulation, in Table X X X I I the Treasury and bank metallic reserves are
* The figures given for the metallic circulation iuclude the bullion in the mints and
assay offices.



216

REPORT ON THE

FINANCES.

stated; but the actual active circulation on the 1st day of July in the
possession of the general public is to be reduced by the amounts of
paper held at that date by the Treasury and banks, which is shown in
the following table, compiled in this Bureau from tbe bank and Treasury
statements prepared bythe Comptroller of the Currency and the Treasurer of the United States:
state of circulation July 1, 1882.

I n Treasury,.

In banks.

I n a c t i v e circulation.

Total.

$56, 541, 887
3, 230, 908
91, 964, 503
87,153,816
28, 048, 631
8,100
11, 590, 620
34, 670, 589
6, 277, 247
17, 754

.

Total

$99, 503, 599
3, 200, 000
3, 696, 223
4, 440, 400
854, 040
. 64,019,518
27, 746, 295
373, 725

$309,. 354, 082
28, 790, 964
48, 683, 726
588, 620
53,652,050
24^,990, 909
324, 656, 458
6, 655, 768

$56, 541, 887
3, 230, 908
500, 822,184
• 119,144,780
80, 428, 580
5, 037,120
66, 096, 710
346,681,016
358, 680, OOO
7, 047, 247

319, 504, 055

Oold bullion
Sil"v^6r bullio n
G o l d coin
Silver dollars
P r a c t i o n a l s i l v e r coin
G o l d certificates
S i l v e r certificates
TJnited S t a t e s n o t e s
National-bank notes
Fractional currency

203, 833, 800

1, 020, 372, 577

1,543,710,432

The character and possession of the paper and specie ciiculation of
theUnited States at the commencement of the fiscal year appears in
the following table, prepared from the s°ame sources of information:
State of circulation July 1, 1881.
In bank.

I n a c t i v e circulatioii.

$89, 017, 716
3, 309, 949
74,153, 945
62, 544, 722
27, 247, 697
23, 400
12, 055, 801
30, 204, 092
5, 2b6, 382
53,159

$116, 073, 276
3, 000, 000
3, 482, 561
5,137,500
945, 590
58, 728, 713
27, 932, 850
372,140

$249, 549, 532
25, 827, 983
49, 356, 803
622, 020
38,165,139
257, 748, 211
321,812,768
6, 680, 654

$89,017,716
3, 309, 949'
439, 776, 75391,-372, 705
80, 087, 061
5, 782, 920
51,166, 530
346, 681, 010
355, 042, 000
7,105, 953

303, 906, 863

215, 672, 630

949, 342, 603

1, 469, 342, 603;

In Treasury.

Gold bullion
Silver bullion
G o l d coin
Silver dollars
F r a c t i o n a l silver coin
Gold certificates
S i l v e r certificates
TJnited S t a t e s n o t e s
National-bauk notes
Fractional currency
Total

-

..

TotaL

By comparing the foregoing tallies for 188i and 1882 it will be seen:
1st. That of the 74J millions of paper and metallic circulation gained
to the total circulation the Treasury received 15i millions, tbe people
gained 71 millions, and the banks lost H i millions.
2d. That of the 61 millions of dollars of gold ooin gained to the circulation the Treasury, in reducing its stock of gold bullion, retained
nearly 18 millions of the resulting gold coin and reduced the outstanding gold certificates $750,000, while the national banks lost $16,500,000
in gold coin and nearly $700,000 of gold certificates, and the general
public gained $60,000,000.
3d. That as to the silver circulation, the silver dollars and silver certificates in the hands of the public, including the banks, at the close of
the-^fiscal year, were over $18,600,000 more than at its commencement,
while the silver coin in the Treasurj^ not represented by outstanding
certificates increased $24,600,000.




DIRECTOR

OF T H E MINT.

217

COURSE OF P R I C E S I N . T H E TJNITED STATES 1 8 8 1 - 1 8 8 2 .

The prices of domestic exports, as indicated by an average of thevalues declared at the custom-house, shows an advance of 7 per cent, on
the export prices of the previous year. The advance was principally in
the prices of food exports, such as breadstufi's, provisions, live animals^.
&c., which constituted in value a large portion of the total exports.
The prices of 1882, however, remained below the currency prices of
exports in 1870, being an average of 84 per cent, of the average declared prices of the principal commodities in the latter year. As
United States notes were at that period at a discount of 13 per cent.,
the prices of the exports in 1882 were 3 per cent, below tbe currency
prices of 1870, reduced to the gold standard. A table is also inserted
containing the average yearly prices in°tbe Kew York market for the
Qalendar years 1880 and 1881 of a large number of staple articles, and
the comparative percentage of such prices for the year 1881, on their
prices for the year 1880, and on their average prices for the preceding:
fifty-six years. Tbe quotations for the last two years have been compiled semi-weekly from the New York Shipping and Commercial List, taking for each article, as far as practicable, the same grade and quality
as that usedin preparing the table for my last report. The average of
the percentages of the prices of 1881 compared with the prices of 1880
and with the average prices for the fifty-six preceding years also indicate an advance in prices averaging on the prices of the same articles
for the previous year of 10.6 per cent., and on their average prices for
fifty-six years of 2.7 per cent.
MONETARY STATISTICS OF FOREIGN COUNTRIES.

Additional replies to those published in my last and previous annual
reports have been received from our representatives abroad, containing
valuable information in relation to the monetary statistics of foreign
countries, and are given in full in the axipendix.* The inforniation which
they contain has enabled me to correct the tables of circulation, coinage, and production to later dates.
A condensed statement of the contents of these papers and of the
monetary condition of the countries to which they respectively relate
may be found useful, and is herewith submitted:
GREAT BRITAIN AND COLONIES.

Great Britain and Ireland.—The report of Mr. C. W. Fremantle, the
deputy master of the royal mint of Great Britain, was received at my
office, and found to contain, as usual, much important information, not
giily in regard to the coinage of the mints of the British Empire, but of
the operations of the mints in other countries.
From his report it appears that no gold coinage was executed during
the year 1881 in Great Britain, but the silver coinage exceeded that of
any previous year except 1872 and 1873, and amounted to £997,128,
.equal to $4,852,523, of which £146,175 were transmitted to the British
xjplonies to replace £67,543165. 6d. of worn coin withdrawn. The new
silver coins sent to the colonies in 1880 amounted to £308,940, equal
to $1,503,457, and the worn silver coin withdrawn to £86,425, equal to
;$420,587. The total amount of worn coin withdrawn from circulation
during theyear 1881 in the kingdom was £340,286, equal to $1,656,002.
The value of tbe bronze coinage, pence, half-pence, and farthings, at its
nominal value, was £23,405, equalto $113,900.
*The dociimeuts here referred to are ommitted for want of space, but tliey may b&
found in the volumes of the Director's report.



^18

REPORT ON T H E

FINANCES.

For the use of the treasury chests abroad in 1881 there were shipped
584,400 sovereigns and half sovereigns, equal to $1,870,683 ] £12,040 in
silver, equal to $58,593; and £60 in bronze pence and half pence.
The average price paid for silver during the year was 5 1 | | ^ . per
ounce (British standard), while the average market price was 51f^., and
the seigniorage accruing was 14c-f-Qd. per ounce, or 27^ per cent., amounting to £166,823, equal to $811,844.
The imports and exports of gold and silver for the last hye years
weve as follows:
'
»
SILVER.
Imports.
187';
1878
1879
1880
1881

Exports.

.

...

£19,000,000
11, 250, 000
11, 000, 000
7, 250, 000
7-000 000

£ 1 5 , 000, 000
21, 000, 000
13, 250, 000
9, 000, 000
10, 000, 000

.

£20, 000, 000
11, 000, 000
10, 500, 000
6, 500, 000
6, 700, 000

£20, 000, 000
14, 000, 000
16,500,000
11, 500, 000
15, 500, 000

GOLD.
1877
1878
1879
1880
1881

Showing a net loss to the country in 1881 of gold £5,500,000, equal to
$26,750,000, and of silver, £300,000, equal to $1,460,000.
The amount of circulation, including bank reserves, is reported by
our minister as— ^
Gold
Silver
Paper

'

£121,630,000
19,036,000'
42,399,000

$591,912,395
92,638,694
206,334,733

William King, esq., the consul of the United States at Birmingham,
forwards, under date of July 19, 1882, an interesting report on the
a;Ssay ofiice at that city, established in 1873 for the purpose of assaying
and stamping with ofScial marks articles of jewelry, &c.
India.—Mr. C. C. Bancroft, acting vice consul-general of the United
•States at Calcutta, forwards, under date of September 10, 1881, a reply
from the secretary of the government for India to certain inquiries contained in a circular of this department.
The coinage for the year 1879 and 1880 is given as follows, to wit:
Oold
••Silver

•

Rupees.
147,300
71,803,307

$54,447'
28,013,290

The gold coinage is probably given for the fiscal year ended March
31, 1880, and the silver coinage for the calendar year ended December
31, 1880. The net gain of coin and bullion by imports for the calendar
year 1880 is stated as—
.
•
'Gold
•Silver

Rupees.
33,142,538
50,460,502

$12,925,590
19,679,596

The circulation of silver coin is given as from $250,000,000 to
^500,000,000, with 57,270,495 rupees=$22,335,493 of silver coin in the
Treasury, and 6,905,525 rupees=$2,693,155 in banks, and the govern•ernment paper outstanding on December 31, 1880, as 143,268,925 rutpees=$55,874,880.



DIRECTOR

OF T H E

219

MINT.

The silver coin in circulation has been estimated, for reasons and upon
data given in my previous reports, at more than double the amount
stated by Mr. Bancroft.
Australasia.—O. M. Spencer, consul-general at Melbourne, furnishes
an important report on the production, consumption, and movement of
the precious metals in Australia.
During the year 1881 tbe gold coined in Melbourne and Sydney mints
is stated as £4,047,902=$19,699,115.
' .
The gold exported from the different provinces in 1880 exceeded the
imports by £3,260,774=$15,868,556, while the stock of silver the sarne
year was increased by a net gain from imports of £186,085=$905,582.
Tbe product of the mines for 1880 was as follows:
Gold....
Silver

£5,910,819
46,673

$28,765,001
197,935

The condition of the banks on December 31, 1880, is shown by the
following statement:
Gold and silver coin
Gold and silver bullion
Notes in circulation

:
•

£11,475,294
804,699
4,405,276

$55,844,518
3,916,068
21,438,276

G. W. Griffin, United States consul at Auckland, furnishes the following statement of the production and exportation of gold from Kew
Zealand since the discoA^ery of that metal in 1857 :
1857
1858
1859
1860
1861
1862
1863
1864
1865.--1866.1867
1868

;

$202,210
262,215
142,135
87,925
5,763,285
7, 956,945
12,158,615
9,289,235
11,132,370
14,222,585
13,501,375
12,521,630

1869
:
1870
1871
1872
1873
1874
1875
1876
1877
1878
1H79
1880 (to June 30, 1880)

$11,814,975
10,587,925
13,937,600
8,654,960
9,937,125
7,526,655
7,038,850
6,342,795
7,480,400
6.200,395
5,993,205
2,996, 000

British Guiana.—The United States consul at Demarara writes that
no mines of gold or silver exist in tbat colony, and that it has no mint.
The value of the bullion imported during the year was $95,702, and
of that exported $11,421.
^
The principal coins in circulation are British silver, but American gold
and Spanish doubloons also circulate.
The outstanding paper circulation of the two banks of the colony on
the 31st of December, 1880, is estimated at $691,790.
FRANCE.

Our minister at Paris furnishes, under date of July 8,1882, very complete statistics from the minister of finance, touching the nionetary
afiairs of France.
The coinage for the year was—
Francs.

Gold
Silver

2,167, 000
6,733, 445

$418,231
1, 299, 554

• The gain in gold bullion by imports during the year amounted to
33,638,040 francs, but there was a loss by export of 23,453,920 francs in
gold coin, leaving a net gain to the country in gold of 10,184,120 francs
=$1,965,553.



220

REPORT ON THE FINANCES.

In silver there was a gain during the year of both coin and bullion as
follows:
Fraucs.

Coin
Bunion

:

20,019, 820
30, 884,974

$3, 863, 825
5,960, SOO

The amount of cash in the Bank of France on December 29,1881, was,
gold, 655,696,391.13 francs=$126,549,403; silver, 1,161,468,130.11 francs
=$224,163,349, an aggregate of 1,817,164,521.24 francs=$350,712,752,
and the paper circulation outstanding at the same date was 2,778,428,840
francs=$536,236,766.
SWITZERLAND.

In the dispatch of Minister Cramer, the gain in theprecious metals by
excess of importation into Switzerland during the year 1881 is stated as—
Kilograms.

Gold
Silver

2,200
103,300

$1,462,120
4,293,148

The circulation of bank notes amounted on December 31, 1881, to
109,867,000 francs=$21,204,331, and the coin in the Federal Treasury
was at the same time as follows :
Francs.

Gold
Siiver.......

1,324,000
462,000

$255,532
89,166

BELGIUM.

The Belgian government transmits, under date of April 4 of the
present year, three responses of tbe different bureaus of the government to the circular of this depaTtment.
No gold was coined in either 1880 or 1881 for the home government,
but 3,261.457 kilograms=$135,546 were coined into fractional silver in
1880, and 915.676 kilograms=$38,055 in 1881.
There was coined for the republic of Venezuela, during the year 1880,
487.547 kilograms of gold=$324,024, into 20-Bolivar pieces.
The imxiorts and exports for the two years are given as follows: .
Kilograms.

1880.
1880.
1881.
1881.
1880.
1880.
1881.
1881.

Imports,
Imports,
Iraports,
Imports,
Exports,
Exports,
Exports,
Exports,

^^old,
silver
gold
silver
gold....'
silver
gold
silver

'.
.:.

1,259
29,649
488
112,211
149
1,011
26
80,293

$836,731
1,232,212
324,325
4,663,489
99,025
42,017
17,280
3,336,977

The gold and silver used in manufactures, presented for stamping at
the bureau of guarantee during 1880, amounted to 32 kilograms of gold
= $21,267, and 2,193 kilograms of silver = $91,141, which does not inelude that used in the arts.
The circulation on Deceniber 31, 1881, was estimated to be about
533,823,529 francs in gold = $103,027,941; in silver, 275,000,000 francs =
$53,075,000, besides 32,780,000 = $6,326,540 in fractional silver coins,
and 354,753,670 francs in paper = $68,467,462.
In addition to these amounts the banks held a reserve in gold, amounting to 77,394,960 francs = $14,937,227, and 18,982,000 francs in silver =
$3,663,526.
ITALY.

The charg6 d'affaires of the United States at Rome forwards, under
date of July 14 of the present year, an original report from the Italian
minister of the treasury in regard to the monetary afiairs of that kingdom.



DIRECTOR OF THE MINT.

221

The coinage for the year 1880 was, gold, 2,590,660 hre = $499,997^
no silver was coined during the year.
Fpr 1881 the coinage was as follows:
Lire.

Gold
Silver

16,860,560
8,281,588

$3,253,988
1,598,346

The imports and exports during the year 1880 were as follows:
Lire.

Goldimports
Silver imports
Gold exports
Silver exports

8,824,280
23,377,600
7,561,760
12,291,120

$1,703,086
4,511,877
1,459.420
2,372,186

The aggregate coinage from 1862 to 1880, inclusive, amounted to—
Lire.

Gold
Silver

-.

255,134,980
520,637,025

$49,241,051
100,482,946

The paper circulation Deceinber 31, 1881, was—
Lire.

State notes
Banknotes

940,000,000
735,579,107

$181,420,000
141,966,767

The reserves held December 31, 1881, were—
Lire.

In b a n k s :
Gold-...
Silver
Treasury:
Gold
Silver

71,304,720
63,573,305
:

$13,761,811
12,269,648

7,654,370
32,707,024

1,477,293
6,312,456

The following, on the resumption of specie payments by the Italian
Government, is taken from the London Economist of May 13, 1882:
Some attempts have been made to calculate tbe amount of coined gold and silver
wbicb will exist in the country at the time of the resumption of specie payments.
The following data may, perhaps, be considered approximate:
Francs.

In Treasury:
'
Gold
550,000,000
$106,150,000
Five-franc, silver
100,000,000
19,300,000
Fractional silver currency
.° 95,000,000
18,335,000
In banks:
Gold;
110,000,000
21,230,000
Five-franc silver pieces...
15,000,000
2,895,000
Fractional silver currency
51,000, 000 .
9, 843, 000
In the country:
Gold
. : . : . . 90,000,000
17,370,000
Five-franc silver pieces
100,000,000
19,300,000
Fractional silver currency
10, 000, 000
1,930, 000
Or a grand total of 1,121,000,000 francs of coin, in addition to 340,000,000 of state
notes, and 750,000,000 of legal-tender bank notes.
The government is at present taking back from France the last installment of silver
fractional curreucy of about 16,000,000 francs, paying for it in tive-franc silver pieces.
The amount of five-franc silver pieces coined by Italy is estimated at 380,000,000
francs, of which it is believed about 160,000,000 or 180,000,000 wiU be out of Italy at
the time of the resumption of specie payments. There is, besides, in the country a
large amount of old silver money coined by the past governments, and which it would
be rather difficult to estimate. The government has lately tried to issue some small
quantity of silver pieces of 50 centimes (5fZ), but they were immediately hoarded for
the payment of custom duties. This wonld have caused a scarcity of change were it
•not for the large quantity of heavy copper money.



222

REPORT ON T H E

FINANCES.

SPAIN.

. . .

The dispatch from Hon. Dwight T. Eeed, of the United States legation at Madrid, under date of September 19, 1881, contains the following information relative to the finances of Spain for the year 1880. The
coinage executed was as follows :
Gold
Silver

•

171,5^73,675
1,393,551

$33,113,719*
26d, 955»

The net loss of gold coin by export was 9,110,484 pesetas = $1,758,323^
while there was a gain in silver coin of 3,528,662 = $681,032.
There were 74,500 kilograms of silver produced from the mines of
Spain during the year, valued at $3,096,220. The coin in the Treasury
on December 31, 1880, is reported to have been:
Pesetas

Gold
Silver

4,017,847
10,465,920

".

$775,444
2,019,923

PORTUGAL.

A communication from Minister Moran, dated December 28,1881, contains the following statistics regarding the coinage, &c., of Portugal
during the year 1880:
Kilograms.

Gold coinage
Silvercoinage

524.775
3,500.768

$348,765
145,49^

The imports and exports for tbe same year are given as follows:.
Milreis.

Imports:
Gold
Silver..
Exports:
Gold
Silver

2,573,801
43,686
28,231
30,588

-

$2,779,705
47,181
30,489
33,035.

Showing a net gain in gold of $2,749,216. and in silver of $14,146..
GERMANY.

Hon. H. Sidney Everett furnishes, under date of September 12, 1881,.
a statement of the gold imports and exports of Germany for the year
1880:
KUograms.

Imports
Exports

.:

8,025
11,254

$5, 333, 4157,479,408

Showing a^net loss to Germany during the year named by export of
$2,145,993 in gold.
AUSTRIA-HUNGARY.

The Hon. William Walter Phelps, our minister to Austria, has forwarded two dispatches, under dates of ISTovember 29,1881, and June 21,.
1882, containing very complete information in relation to the monetarj^
affairs of the Austro-Hungarian Empire.
The coinage for 1880 is given as:
Vienna mint, gold
Hungarian mint, gold
Vienna mint, silver
Hungarian mint, silver




1

ilorins.. 2,585,706
kilograms.. 1,804.0786
tlorins.. 6,810,782
kilograms.. 42,384.644

$1,247,264
1,198,991
2,765,177
1,761,506-

DIRECTOR OF T H E

223

MINT.

And for the year 1881:
Florins.

Vienna mint, gold
Vienna mint, silver

4,147,434
6,673,482

$2,000,584
2,709,434

The iinports and exports for 1880 and 1881 were as follows :
1880. Imports:
Gold
Silver
1881. Imports:
Gold
Silver
1880. Exports:
Gold
Silver
1881. Exports:
Gold
Silver

Florins.
21,355,000
$10,300,584
6,965,217 . 2,827,878^
19,798,000
13,034,447

9,549,565
5,291,98S

3,277,900
15,342,351

1,581,0956,2.28,995

2,192,350
269,836

1,057,480109,55^-

Showing a net gain by imports in the two years of gold $17,211,574^,
and of $1,781,315 in silver.
The production of the xirecious metals during the same years was:
Kilograms.

Austria, 188^, gold
Hungary, 1880, gold
Austria, 1881, gold
Austria, 1880, silver
Hungary, 1880, silver
Austria, 1881, silver

43
,1,604
1,867
30,257
17,743
31,359

i...

$28, 57^
1,066,0181,240,8081,257,481
737,399"
1,303,280

An aggregate of

5,633,564

The paper circulation of the empire on the 31st of December, 1881, is
given as state notes, 320,434,947 fiorins=$130,096,000, and Austro-Hungarian Bank notes (legal tender), 354,287,5,60 florins=$143,836,000. The
cash reserve in the treasury and in Austro-Hungarian Bank at the date
mentioned was:
•
IQ treasuries:
Gold coin
Silver coin
.Austro-Hungarian B a n k :
Goldcoin
Silver coin.I.'....

Florins.
6,000,000
14,000,000

...,

;$2,894,100
5,684,000"

68,725,532
122,130,827

:...'.

33,159,76049,585,116-

The following comparative table of imports and exports of gold audi
silver from Austro-Hungary during the years 1881-'82is from the London
Economist of July 22, 1882, and is for the year ending April 30:
Imports.
1881.
Gold
Gold coin
Silver
Silver coin

Total

Exports.

1882.

1881.

1882.

...•.

£1,116
272, 883
185, 956
150,183

£2,
260,
18,
18,

250
516
304
435

£496
62,108
400
7, 670

2, 929, 400

".

616,138

299, 505

70, 674

3, 204,134

•




£200
274, 534.

224

REPORT ON T H E FINANCES.
RUSSIA.

The following statistics in relation to the drain of gold from Eussia,
compiled from the annual report of the Eussian customs department,
are taken from the London Economist of April 8, 1882:
Years.
^

$3, 816, 400
3, 092, 600
6, 711, 600
10, 462, 200
9,146, 200
7, 501, 200
4, 474, 400

:

Exports.
$18 095 000
67, 576, 600
12, 238, 800
8, 751, 400
5, 856, 200
17,305,400
44, 612, 400

45, 204; 600

1875
1876
1877
1878
1879
1880
1881

Imports.

174, 435, 800
45, 204, 600

Excess of e x p o r t s . . . . .

129, 231, 200
NORWAY AND SWEDEN.

Hon. John L. Stevens, in a communication dated September 9, 1881,
furnishes two official dispatches, which contain valuable statistical information relating to the finances of this kingdom. The coinage of
1880 (calendar year) was—
iS^rway, silver....^
•Sweden, silver
•Sweden, gold

....•

Kilograms.
12
5,368
1,133

$499
223,094
752,992

The importation into ISTorway during the year amounted to, gold and
silver, 2,483,000 crowns=$665,444; the exports for the same period
were, gold and silver, 753,800 crowns=$202,018; showing a net gain in
hoth metals of $463,426.
. '
The imports and exports of Sweden are given as follows:
i
.Imports:
Gold.....
Silver
Exports:
Gold
Silver

Kilograms.
4,730
3,748
; °
57
586

J
$3,143,558 I
155,767'
I
37,882
24,354;
I

The production of the mines'is given as—

^

I

Kilograms.

TS^orway, silver
•Sweden, silver
:Sweden,.gold..

,

4,436
1,312
5

.i

$184,360
54,527
3,323

The circulation of [N'orway on the 31st of December, 1880, was about
24,000,000 crowns in gold=$6,332,000; 4,000,000 crowns in silver4
^1,072,000, and 38,714,000 crowns in paper=$10,375,352; and most of
rthe gold was held by the banks and the public treasury.
'
The circulation of Sweden at the same date is stated as follows:
|
Crowns.

-Gold
:Silver
. ^Paper

j

5,500,000
11,000,000
89,635,440

$l,474,0b0
2, 948, O O
D
24,022,298

With bank reserves amounting to $6,330,315 in gold, ahd $1,481,572 jin
silver.
j
DENMARK.

.

j

Henry B. Eyder, United States consul at Copenhagen, forwards tjwo
dispatches, under date of March 9 and May 23 of the present year, in
relation to the Kingdom of Denmark.
j



DIRECTOR OF THE MINT.

225

No coinage was executed during the years 1880 and 1881, The importation of gold in 1880 is stated as about 13,000,000 crowns=
$3,484,000. The amount exported is not giyen.
In 1881 there was a loss throngh excess of exports of gold of about
2,500,000 crowns=$670,000.
The circulation is estimated at the close of the year 1881 to have
been, of gold, 8,000,000 crowns=$2,144,000, with 29,000,000 crowns
=$7,772,000 in the national bank; of silver, 15,350,000 crowns=$4,113,800, and 2,800,000 cro.wns = $750,400 in the bank; and of bank notes
ontstanding 75,219,280 crowns=$20,158,767.
General Wallace forwards, under date of the 14th of June of the
present year, a dispatch in relation to the financial condition of the
Ottoman Empire, from which it would appear that it is almost impossible to obtain any reliable information in relation to the monetary afiairs
of that country, for the reasons that no statistics are kept, and that both
the government and banks are solicitons to conceal their affairs. He
gives the product of tbe two lead mines worked by the government,
from 1880 to June, 1882, as 557,092 drams in silver=$71,441, and 2,307 in
gold = $4,918.
The paper money known as '' Caim6^' has been mostly withdrawQ from
circulation^ for the reason that ho one would accept it.
The annual report of the commissioner of the imperial mint of Japan
for the year ending June 30, 1881, has been received, and shows the imports of gold and silver to have been—
Ounces.

" Gold
Silver

"...

25,063
.4,331,834

$518,052
4,981,609

The coinage of gold was confined to 5-yeii pieces, and of silver to
1-yen pieces, as follows: Gold, 98,117 pieces, valued at $490,585; silver,
5,089,113 pieces, valued at $4,514,043.
Of copper coins 73,841,406 pieces were struck of a tale value of
1,112,624 yens=$986,897.5.
SANDWICH ISLANDS.

An extract from a dispatch from Mr. Comly, minister to the Hawaiian
Islands, states tbat no mines or mints exist in those islands; that business is conducted on a silver basis, and that the principal coins in cir.culation are United States trade dollars and French five-franc pieces.
Hon. Joseph B. Angell, minister to China, states in his dispatch that
the Chinese Government collects no statistics in relation to its monetary,
afi'airs.
MEXICO.

Minister Morgan forwards two dispatches—one under date of February 8, 1882, and the other June 29, 1882—relative to the coinage and
movement of gold and silver in Mexico. Tbe iniportation of gold is
stated as very inconsiderable, being principally that brought by individuals to defray their personal expenses.
The exportation of gold during the fiscal year 1880 amounted to
$1,401,382, and of silver to $20,137,932, besides $496,437 in ores.
15 F



'226

REPORT ON THE FINANCES.

The circulation of the country is composed iirincipally of silver, gold
'forming not more than 5 per cent, of the entire amount.
The general government, has issued no pajier nioney.
The coinage for the fiscalVear 1881, was, gold, $438,778: silver, $24,139,
'^023.60.
The El Minero Mexicano, of April 13, 1882, publishes the following
"as the coinage of the various mints of the Eepublic of Mexico during
the fiscal years 1879-'80 and '81, but does not give the values separately
of the difierent metals coined; in fact the amounts include the bronze
coinage of the period covered :
Amount coined in—
1879
1880
1881

$22,821,183 65
24,537,354 85
25,151,721 85

:

Thesame paper furnishes the following statementof the aggregate
exports of gold and silver during the years 1878,1879, and 1880:
--Exported in— .
1878
1879
-1880

$22,663,437 86
21,528,938 19
22,086,418 36

'

ARGENTINE REPUBLIC.

~Ed. L. Baker, United States consul at Buenos Ayres, furnishes an interesting article relative to the new coinage law of the Eepublic, providing that the gold or silver ^^peso,'' or dollar, shall be the unit of value
—the gold dollar to contain 25.1 grains of standard gold, 900 fine, and
the silver dollar 25 grams (385.8 grains), the same weight as 2 halfdollars of our present coinage. He states that the national mint is now
running day and night with a view to putting the new coins (8 millions
of gold and 4 millions of silver) into circulation as soon as possible.
The government has issued a decree fixing the value of the old coins
and moneys in circnlation with respect to the new unit of value. This
is the first authorized metallic currency of the republic, the circulating
unedium heretofore having been paper nioney and coins of gold and
silver of foreign countries.
The bank-notes outstanding June 30, 1881, amoimted to $37,101,756.
By the terms of the new coinage law all these notes must, within two
years, be withdrawn and replaced by notes corresponding with the new
monetary unit.
BOLIVIA.

Hon. Charles Adams, minister at La Paz, forwards a communication,
dated August 30 of the present year, treating of the coinage, production, and consumption of the precious metals ih that country during the
year 1881. He states that no gold was coined during the year, but!
47,425 kilograms of silver, equal to $1,970,983, were coined at the
national mint at Potosi into 20-cent and 10-cent pieces.
The silver exported amounted to about 500,000 Bolivianos, equal to
$411,500 in coin, and 8,000,000 Bolivianos, equal to $6,584,000 in ores.
The production of the mines was, of gold, about 3,500 ounces,'
$72,345; and of silver, 1,100,000 marks, valued at $11,000,000. No gold
is in circulation or in reserve in the banks.
I
The silver circulation of Bolivia on the 31st of December, 1881, is
estimated to have been 6,000,000 BoUvianos, equal to $4,938,000, witli
about 539,000 Bolivianos, equal to $443,597, in the various banks. ' |
The paper circulation at the same time (bank exclusively) amounted
to about 1,374,869 Bolivianos, equal to $1,131,517.



DIRECTOR OF T H E MINT.

227

CHILI.

The United States consul af Valparaiso forwards a dispatch relating
ix) the finances of Chili.
The coinage for the year 1880 was, gold, $108, 930; silver, $2,226,392.75,
and for 1881, gold, $125,280; silver, $3,020,000.95.
The imports and exports for the year 1880 are given as—
•Goldimports.
Silver imports
Gold exports
. Silver exports

$16,945
26,104
64,476
4,546,799

:

The production of the mines was about $128,869, gold, and $5,081,747
in silver.
The circulation of the countiy on the 31st of December, 1880, was,
coin, $2,500,000; paper, $28,469,813; and the paper circulation on
December .31, 1881, was $26,555,341.
The coin in reserve is stated as follows:
In banks
I n treasury

$1,600,000
798,000

Minister Langston forwards a special report on the national bank of
Hayti, and a copy of a law passed by the Corps Legisldtif of the Eepublic of Hayti fixing the standard of weight, value, and denomination
of the new gold, silver, and bronze national money, to be known as
^ gourdes," the aggregate to be 2,000,000 gourdes, and the coinage to
^
be executed at Paris. He also furnishes a reply, under date of July
14 of the present year, to the Treasury Department circular inquiring
in relation to the monetary afi'airs of that republic. He states that
$780,000 of thCc new silver "gourdes" were coined during the calendar
year 1881, and put in circulation.
The imports of gold coin amounted to $11,494, and of silver coin, including tbe new national money, $836,785, while thQ exports for the
same period were, gold, $1,550, and silver, $517,488.
Mr. Langston estimates the gold of the republic to have been, on
December 31, 1881, from three to five millions of dollars.
URUGUAY.

Consul A. L. EusseU forwards from Montevideo a dispatch relative to
the coins used in Uruguay and value at which the coins of other countries are received.
THE W O R L D ' S PRODUCTION OF GOLD AND SILYER.

The production of the precious metals in twenty countries whose
mines furuish nearly the entire product, is given as revised for the
years 1879 and 1880, and is brought down to the close of the calendar
yearl88L
For the latter year, based upon estiniates for some of the smaller producing countries, the total production of gold was, kilograms, 162,163,
$107,773,157; silver, kilograms, 2,349,689, $97,659,460. This is a slight
increase upon the production stated for 1880, being about one and a
half millions more in gold and three millions in silver.




228

REPORT ON T H E

FINANCES.

THE WORLD'S COINAGE.

The coinage of tbe United States in both gold and silver has continuei
to be greater than that of any other nation. For the calendar year 1881
more tban two-thirds ofthe year's gold coinage—$136,387,383—and over
one-fourth of the total silver coinage—$100,705,824—were executed at
the mints of the United States.
Tbe coinage for the tbree years 1879, 1880, 1881, officially obtained,.
is as follows:
Tears.

Countries.
14
16
15

1879
1880
1881

Total

Gold.
$90, 752, 811
149, 645, 236
136, 387 383
376, 785, 430 .

Silver.

Total.

$104,888,313
82, 397,154
100, 705, 824

$195, 641,124i
232, 042, 390
237, 093, 207

287,991,291

664 776 721

CIRCULATION OF THE PRINCIPAL COUNTRIES OF THE WORLD.

-

A table giving the paper and specie circulation of thirty-four of tbe
principal countries of the world, total and per capita, has been compiled
from ofecial dispatches and other accessible data.
The paper circulation embraces both bank and government issues
intended to be used as nioney, and tbe total amount of gold and silver
coin in the countries, respectively, without deduction for such amounts
as may be held as treasury or bank reserves, and in most cases probably
includes the bullion as well as the coin ofthe countries.
Tbe total amount of circulation of these countries is $3,825,220,07S
paper, $3,353,673,748 gold coin, $2,182,768,866 silver full legal tender,
$438,000,969 limited legal tender; total specie, $5,974,443,583'; total
circulation, including reserves, $9,799,663,661.
A further table has been prepared stating the government and bank
issues and the reported metallic reserves of gold and silver held in bank
and treasury va:Ults. The total amount of government paper,issue of
thirty-one countries, given in Table No. XXXII, was $1,183,054,771
and the bank issne $2,642,165,307, a total of $3,825,220,078. The metallic reserves io the treasuries and banks of the same countries, as far
as known, amounted to $1,698,986,763.
An additional table is appended in which the amount of the bank and
treasury reserves is deducted from the total metallic and paper circulation, for the purpose of showing, in thirty-five countries, the total
amount in active circulation, which, outside of the banks and treasuries^
was $8,100,676,898. The per capita of active circulation in each of the
countries is also given.
I-have again to acknowledge the faithful and efficient services of the
clerks of the Mint Bureau, among whom Messrs. Preston, Leech, and
Eckfeldt are entitled to special mention for their valuable assistance in
preparing tables and compiling and arranging statistical materialembodied in this report.
I am, very respectfully,
HORATIO C. BUECHAED,
Birector.
Hon.

C H A R L E S J. F O L G E R ,

Secretary of the Treasury.




APt>Els+DlS:.
t i — D E P O S I T S and PURCHASES of GOLD ancl SILVER BULLION duriiig the fiscal year ended June 30^ l8g2.
Mints.
Description.

Philadelphia. SanFrancisco.

Carson.

A s s a y offices.
Denver.

XewOrleans.

New York.

Boise.

Helena.

Charlotte.

Saint
Louis.

Total.

GOLD.

tJnited States bullion (domestic Droduction)
........
IJnited States coin
Forei oil bullion
Jewelers' bars, old plate, &c. - .
Total
Eedeposits

{ ™ t ^ | I , - - ; ;

$143,250 70 $21, 691, 855 40 $1, 016, 808 04 $458, 847 07
209, 228 61
9, 543 20
33, 697 95
3,013,683 76
41, 490 46
2, 881, 438 64
617, 481 51
26, 663 61
158 01
1, 045,149 23
56,520,718 2C
960, 859 40

Total gold received and
onerated unon.
58, 526, 726 83

27, 623,184 61

1, 010, 966 05

458, 847 07

101.'206 48
27, 724, 391 09 1, 016, 966 05

458, 847 07

$7,196
9, 868
1, 464
56, 849
31, 572

67 $7,166, 935 87 $146, 305 82 $587; 443 78 $79, 683 39 $185 23 $31, 298, 511 97
41
370, 374 83
599, 356 80
341 75
59 9, 734, 960 74
12, 783, 807 04
08 17 324 357 53
675 07
20, 304, 810 78
73 1, 087, 258 40
1, 006 58 6, 000 69
1,770,166 36
24 83

106, 951 48 35, 683, 887 37
165,156 45
2, 912 74
145, 043 27

146, 305 82

109, 864 22 35, 994, 087 09

146, 305 82

684, 475 53

142,136 20

587,468 61
97, 006 92

81, 706 79 6,185 92
182 57

66, 756, 652 95
56, 685, 874 65
1, 307, 211 38

81,889 36 6,185 92 194. 7 4 0 7^fi QS

o

H
O

o

SILVER.

I J n i t e d S t a t e s b u l l i o n (domes9, 409, 478 48
81, 282 62
36, 324 57
10, 603 52
93,564 10

9, 482, 214 55
4, 777 05
1,144,168 20
11, 509 80
3, 684 53

1, 003, 320 62
29 79

9, 631, 253 29
Total
1, 287, 434 00
_, ,
.. C F i n e b a r s
12, 640 23
Redeposits J Unparted b a r s . . -

10,646,354 13
343, 405 60
1, 346 22

I J n i t e d S t a t e s coin
Foreign, b u l l i o n
F o r e i g n coin
elewelers' b a r s , o l d p l a t e , &-c...

Total silver received and
operated u p o n . .
. . . . 10, 931, 327 52" 10, 991,105 95

6, 375,176 76
18,703 98
227, 209 71
182,160 37
226, 501 04

2, 318 43

18 83

7, 053 02 4, 534, 327 17
22, 577 70
18, 924 47
656,5.15 06
24, 346 27

14 80

47 47
104 12

633 98

1, 003, 369 24

7, 053 02 5, 256, 690 67

o ^ i s A^i 142,151 00

770 91

778 87

894 14

7 029 751 86
17, 632 55
120, 875 80

3,155 05

2 08

33, 720,491 42
1, 648, 472 15
138,913 52

7, 053 02 5, 257, 584 81

7,168, 260 21

2, 318 43

145, 306 05

772 99

778 87

35, 507, 877 09

1, 003, 369 24

542 00
77 32

20 95
123 94

30, 956, 588
127, 572
1,426,626
860, 836
348, 867

18
40
95
22
67

Gold a n d silver deposits a n d
^ ., c G o l d
Redeposits | gii^er

10, 676, 402 52
57, 481, 577 60
1, 300, 074 23

T o t a l gold a n d s i l v e r r e c e i v e d a n d o p e r a t e d u p d n 69, 458, 054 35




38, 269, 538 74 2, 020, 335 29
101, 206 48
344, 751 82

465, 900 09 5, 363, 642 15 42, 713, 639 23
2, 912 74
310,199 72
894 14
138, 508 35

148,624 25 ,729, 619 61
97, 006 92
3,155 05

82, 477 70 6, 964 79 100, 477,144 37
182 57
57, 993, 086 03
2 08
1, 787, 385 67

38, 715,497 04

465, 900 09 5, 367, 449 03 43,162, 347 30

148, 624 25

82, 662 35 6, 964 79 160, 257, 616 07

2, 020, 335 29

829, 781 58

ts3
IN:)

CO

to

il.-'DJEPOSITS of GOLD of DOMESTIC PBODUCTION during the fiscal year ended June 30, 1882.

CO

o

A s s a y offices.

Mints.

Total.

Locality.
Philadelphia. S a n F r a n c i s c o .
Alabama....
Alaska
Arizona
California ..
Colorado
Dakota. .
Georgia
Idaho .. -•
Maine
Maryland
..
Michigan
Montana
....
!N evada
New Mexico
jSTorth Carolina
Oregon
South Carolina
Tennessee
Utah
Virginia
"Washington Territory .
Wyoming
Refined gold
Parted from silver
Other sources
Totalgold




Carson.

Denver.

N e w Orleans.

$211 29

1, 836
3, 706
674
25, 616
145
2, 672
601
3, 207
6,143

54
41
86
11
48
03
85
00
03
44
00
77
22
45
29
11

2, 393 64
7, 264 31

Bois6.

Helena.

Charlotte. Saint Louis.

$1, 202 79
$14, 928 98
338, 959 35
6, 558, 830 77

'578'44
1, 493
7, 760
38, 273
5,213
2, 327
' 4,770
494

N e w York.

$458, 847 07
434,914.06

•

23, 670 29
319, 671 44
878 51

891, 860 71

09
35
25
18
44
31
83

2
727,431
162, 345
61, 403
4,128

_

$124, 947 33

499
44, 944
1, 595,149
3, 367, 043
73, 075
79, 466
746

16
44
84
96
41

576
259
25,345
4, 929

48
18
40
54

$7,196 67

38,156 78
22,163 52
860 95
13, 266, 200 43

27, 867 43

38, 616 54
1.2,408 75

1,156 04
623, 262 38
403, 967 80

.. ...

108, 868 82
21, 691, 855 40

$185 23

$587,443 78

58, 330 39

563, 751 50

143, 250 70

$28, 658 10
$87, 975 43

1, 016, 808 04

458, 847 07

7,196 67 • 7,166, 935 87

146, 305 82

587, 443 78

79, 683 39

185 23

$1, 414
14, 928
340, 036
6,730,215
2,061,756
3, 405, 317
106,946
604,683
5, 516
494
2
1, 340, 566
1, 377, 584
62, 956
68.360
622, 227
15, 657
860
63 906
11 072
22,163
4,410
13, 896, 727
403 967
136, 736

08
98
88
99
73
04
65
28
86
85
16
74
02
91
95
66
45
63
14
65
52
63
12
80
25

31, 298, 511 97

o
H
O
H

I—(

>
o

i n . — D E P O S I T S of SILVEB of DOMESTIC PBODUCTION during the fiscal year ending June 30, 1882.
Mints.

A s s a y offices.

Locality.

Total.
Philadelphia. San Francisco.

Carson.

Denver.

N e w Oiieans. N e w York.

$1 11
Alaska
(Colorado .
D'i,lcot,a

.............

Maine
Michigan (Lake Superior)
Nevada
"Nforth C a r o l i n a
^N^nnesaee
•jj^^a]^

"W^a«;hiiifii"ton T e r r i t o r v
"VVvomin^'"
Refined s i l v e r
T*a.rtpd from ffold
Other sources
Total silver




61, 998
10
1,356
453
44
33
21
7, 710
1, 293
17
3
197
61
2
22,757
25

17
87
60
37
16
37
38
73
24
99
79
66
95
37
30
10
40

Bois6.

Helena.

C h a r l o t t e . S a i n t .Louis.

$4 78
$162 22
4, 085, 427 78
231,='699 50

363, 466
852
761, 854
29,139
127
20, 764
15,
844,
106,
496,

$16, 281 89
$7, 053 02

70, 034 07
. 64, 275 36
2, 697,179 13
14 03

987, 038 73

06
34
99
93
84
76
18
05
92
40
52

801
927
952
035
4

5, 839 92

""$i64'48'
$1, 537 20
$142,136 20

$20 95
337 96

781 23
39 56
37
2, 360, 516 11
26 81

385, 285 21

17 39
9, 308, 812 85

215 86
2 79
1, 328, 385 97

4, 658 68

613, 692 71

9, 409,478 48

9, 482, 214 55

$4, 534, 327 17

1, 003, 320 62

7, 053 0 2 . 4, 534, 327 17

1,292,901 21
81, 800 49
6, 375,176 76

$5
162
892
844
264
593
336
92, 369
21
93 511
1,052,652
3,791,188
496, 053
540
6 622
100
2
2, 768, 558
52
215
20
16,464, 427
81 800
618, 351
4, 510,
248
770,
29,

'
2, 318 43

142,136 20

542 00

20 95

89
22
01
fiO
61
30
48
40
38
91
80
77
22
14
10
93
67
42
21
86
18
20
49
39

o
o
o

l-H

30, 956, 588 18

to
00

I V . — C O I N A G E E X E C U T E D during tlie fiscal year ended June 30, 1882.
SanFrancisco.

Philadelphia.
Pieces.

Pieces.

Value.

Value.

Carson.
Pieces.

Value.

.

N e w Orleans.
Pieces.

Value.

Pieces.

Total.
Value.

GOLD.

Double-eagles
Eagles
Half-eagles . .
T h r e e dollars
Quarter-eagles
Dollars

25
3, 670, 005
4, 594, 345
25
25
6,025

T o t a l gold

8, 270, 450

'.

$500
36, 700, 050
22, 971, 725
75
62
6, 025

59, 678, 437 50

00
00
00
00
50
00

710, 000 $14, 200, 000 00
7, 400, 000 00
740, 000
7, 250, 000 00
1, 450, C O
O

18,171
16, 766
50, 446

$363,420 00
167. 660 00
252, 230 00

10,170

$101, 700 00

2, 900, 000

28, 850, 000 00

85, 383

783. 310 00

10,170

101,700 00

11, 000, 000 00

763, 000

763, 000 00

728^ 196
4, 436, 941
6, 094, 791
25
25
6,025

$14,563,920
44, 369,410
30, 473, 955
75
62
6, 025

00
00
00
00
50
00

11, 266, 003

89,413,447 50

27, 772,
11,
13,
25,

27, 772, 075
5, 537
3, 268
2, 507

SILVER.

Dollars
Half-dollars
Quarter-dollars
Dimes

. .

T o t a l silver

11, 051, 075
11,075
13, 075
25, 075

11, 051,
5,
3,
2,

00
50
75
50

11, 000, 000

11,100, 300

11, 062, 388 75

11, 000, 000

4, 400, 775
3,475
42, 461, 475

4, 958, 000 4, 958, 000 00

220, 038 75
104 25
424, 614 75

075
537
268
507

075
075
075
075

00
50
75
50

763, 000

763, 000 00

4, 958, 000

4, 958, 000 00

27, 821, 300

O

27, 783, 388 75

4, 400, 775
3,475
42, 461, 475

11, 000, 000 00

O
Pi
H

220, 038 75
104 25
424, 614^ 75

MINOR.

Five cents
Three cents
One c e n t
Total minor

46, 865, 725

644, 757 75

Total coinage

66, 236, 475

71, 385, 584 00




46, 865, 725
13, 900, 000

39, 850, 000 00

848, 383 1, 546, 310 00

4, 968,170

5, 059, 700 00

644, 757 75

85, 953, 028

117, 841, 594 00

Q
W
02

v.—COINAGE EXECUTED during the calendar year ended Deceniber 31, 1881.
Philadelphia.

San Francisco.

N e w Orleans.

Carson.

Total.

Denomination.
Pieces.

Value.

Pieces.

Value.

Pieces.

Value.

Pieces.

Value.

Pieces.

Value.

GOLD.

--'.

Total gold

2,260
3, 877, 260
5, 708, 800
550
680
7, 660

$45, 200
38, 772, 600
28, 544, 000
1, 650
1, 700
7, 660

00
00
00
00
00
00

727, 000
970, 000
969, 000

$14, 540, 000 00
9,700,000 OJ
4, 845, 000 00

24, 015
13,886

$240,150 00
69, 430 00

8, 350

$83, 500 00

9, 597, 210

Double-eaffles
Eagles
Half-eagles
Three dollars
Quarter-eao'les
Dollars

67, 372, 810 00

2, 666, 000

29, 085, 000 00

37, 901

309, 580 00

8,350

83, 500 00

00 ' 12, 760, 000
50
75
50

12, 760, 000 00

296, 000

296,000 00

5, 708, 000

5, 708, 000 00

27, 927, 975
10, 975
12, 975
24, 975

o 27, 927, 975 00
5, 487 50
3, 243 75
2 497 50

12,760,000 00

296, 000

296, 000 00

5, 708, 000

5, 708, 000 00

27, 976, 900

27, 939, 203 75

729, 260
4, 879, 625
6, 691, 686
550
680
7,660
12, 309, 4 6 1 .

$14 585 200
48,796,250
33, 458, 430
1, 650
1, 700
7, 660

00
00
00
00
00
00

96, 850, 890 00

o

SILVER.

9,163,
10,
12,
24,

Dollars
Half-dollars
Quarter-dollars
Dimes

975
975
975 •
975

9,103, 975
.5,487
3, 243
2,497

•

9, 212, 900

9,175, 203 75

72, 375
1, 080, 575
39, 211, 575

3, 618 75
32, 417 25
392,115 75

72, 375
1,080,575
39, 211, 575

3, 618 75
32, 417 25
392,115 75

Total miuor

40, 364, 525

428,151 75

40, 364, 525

428,151 75

Total coinage

59,174, 635

76, 976,165 50

80, 650, 886

125, 218, 245 50

Total silver

12, 760, 000

H
O

o

MINOR.

Five cents
Three cents
One cent

°




15,426,000

41, 845, 000 00

333, 901

605, 580 00

5. 716, 350

5, 791, 500 00

fel

g
3

oo

to

X L — B A B S M A N U F A C T U B E D during thefisoal year ended June 30, 1882.

oo
Mints.

A s s a y offices.

Description.
Philadelphia.

San
Carson.
Fraricisco.

Denver.

New
Orleans.

Total.
New York.

Helena.

Boisd.

Charlotte.

Saint
Louis.

GOLD.

Fine bars
Uuparted bars
Mint bars

$81, 889 36 $6,185 92

$12, 386, 553 86
1,378,588 00
23, 739, 978 18

6,185 92

37,504,120 04

$12,147, 674 90

$238, 878 96

$146, 305 82 $684,475 53

$458, 847 07

$884 30.

23, 739, 978 18

Total gold

238, 878 96

146,163 05

458, 847 07

884 30

718, 019 68

35, 887, 653 08

146, 305 82

684,475 53

81, 889 36

SILVER.

Fine bars
vStandard bai s
Unparted bars . ^
Mint bars

. . .

H
. . .

6, 905, 715 42
34, 478 09

16, 397 60

2, 318 43

7,053 02

145, 306 05

772 99

7, 769. 898 15
34,478 09
172, 626 96
152,199 74

778 87

152,199 74

. ...

Total silver

146,163 05

734, 417 28

7, 053 02

7, 092, 393 25

2, 318 43

145, 306 05

772 99

778 87

8,129, 202 94

Total gold and silver

385, 042 01

735, 301 58

465, 900 09

42, 980, 046 33

148, 624 25

829, 781 58

82, 662 35

.6, 964 79

o

45, 634, 322 98




'

?

Q
ZP

O

Y l l . — B A B S M A N U F A C T U B E D during the calendar year ended Deceniher 31, 1881.

Mints.

A s s a y offices.

Description.

Total.
Philadelphia.

San Francisco.

Carson.

Denver.

N e w Orleans.

New York.

B8is6.

Helena.

Charlotte.

$150, 583 15

$569, 847 96

$78, 931 07

$12, 040, 962 40
1, 263, 842 55
52, 469, 870 64

150, 583 15

569, 847 96

78, 931 07

65, 774, 675 59

GOLD.

Fine bars
Unparted bars
Mint bars
Total gold

$11, 800, 644 00

$240,318 40
$4,188 11

$460, 292 26
52, 469. 870 64

240, 318 40

4,188 11

78, 060 81
573 16

460, 292 26

516, 439 28

64, 270, 514 64

SILVER.

Fine bars
Standard bars

24, 257 22

5, 600, 263 52
8,181 25
5, 073 62

Total silver
T o t a l gold a n d s i l v e r . . .




2, 403 01

$115 01
•

Mint bars

99, 053 48

682 22

6 194 763
8 869
131 469
519, 047

O
H
O

6 854 150 11

519, 047 53

78, 633 97

540, 696 50

5, 073 62

115 01

6,127, 492 30

2, 403 01

99, 053 48

682 22

318, 952 37

544, 884 61

465, 365 88

115 01

70, 398, 006 94

152, 986 16

668, 901 44

79, 613 29

61
41
56
53

o

72,628,825 70

I—(

OO

236

REPORT

ON T H E

FINANCES.

Y m . — C O I N A G E and MEDAL D I E S MANUFACTUBED at the M I N T at PRILA^
D E L P H I A during tlie fiscal year ended June 30, 1882.

sFor gold coinage:

Total.

2
127
94
2
2
6

"

6
6

145

20

12

410

80

30

50

252
2
2
4

100

-

10
4
6

92
2
2
4

Total
'For silver coinage:
Dollar
Half-dollar
Quarter-dollar
Dime
.

• 50
40
55

233

Eagle
Half-eao-le
Three-dollar
Quarter-eagle
Dollar

Total

New Orleans.

Philadel- San Fran- Carson.
phia.
cisco.

Denomination.

80

30

50

260

62
177
161
2
2
6

5For minor coinage:
Three-cent
One-cent

398.
7
162

398
7
162

Total

567

567

TOTAL N U M B E B of D I E S .
Oold coinage
Silver coinage
Minor coinage
Proof coinage
Decatur, reverse (reproduction)
Perry, reverse (reproduction)
Garfield and Lincoln medals
I n d i a n peace medal
Presidential medal
Annual assay
Army marksmansMp
Seal of the United States, medal

^..
^

Total

410
260
567
30
. 1
1
9
2
2
2
9
2
1,295

IklL.—MEDALS MANUFACTUBED at the M I N T at P H I L A D E L P H I A daring the
fiscal year ended June 30, 1882.
Names.
Adams Academy
Amidon
American Pomological Society
Army division marksmanship, first prize, dies No. 1-..
Army division marksmanship, first prize, dies No. 2 .
Army division marksmanship, third prize, dies No. 3.
Army division marksmanship, third prize, dies No. 4 .
Baltimore Female College (large)
Baltimore Female College, graduate
Baltimore Female College, for excellence
Bridge
Brown memorial
College of Pharmacy alumni
OoUege of Pharmacy, Proctor prize
Denman School
Department of State
Franklin, Boston, schools
Garfield, presidential
Garfield, Indian peace
Georgetown College
Johnson, presidential
Ketchum, Jesse (large)




Gold.

Silver.

20

30

Bronze.

White
metal.

DIRECTOR OF THE MINT.

237

1"%..—MEDALS MANUFACTUBED at the MINT, d-^c—Continued.
Names.

Gold.

Ketchum, Jesse (small)
Life-saving (first class)
Life-saving (second class)
Lincolu, presidential (large)
•Lincoln and Garfield (large)
Lincoln and Garfield (small)
Lincoln School, San Francisco
Maine State Agricultural
Marksman badge, National Guard Pennsylvania . . .
Massachusetts Charitable Mechanics' Association .
Massachusetts Humane Society
McKee
Michigan State Agricultural
Monroe, presidential
New England Agricultural Society
New Hampshire Agricultural Society
Norman
:
Pauline
Peabody, educational
:.
Kobinson, prize
Santini
Scott, John
Shakespeare
'
Society of the Cincinnati
Unitecl States diplomatic

Silver.

Bronze.

White
metal.

35
347
475

4
28
1,800
2,200
21
18
152

225
340

Total .

IL.—MEDALS and PBOOF SETS SOLD during thefiscalyear ended June 30,1882.
Description.

N u m b e r sold.

Valae.

MEDALS.

Gold
Silver
Bronze
Total

876
4, 522
803
6, 201

....

$8, 044 4 ^
3, 421 66>.
616 2a'
12, 082 28-

34
1.1 2.

1,462 00'
4, 448 O x
O
'

1,146

5, 910 OO

PROOF SETS.

Gold
Silver

-Total




---

X I . — S T A T E M E N T of EABNINGS and E X P E N D I T U B E S of the UNITED STATES MINTS and ASSAY OFFICES for the fiscal year ended
June 30, 1882.

OO

oo

EARNINGS.
A s s a y offices.

Mints.

Total
Philadelphia.
$10, 850 97
P a r t i n g and refining charges
'.
661 24
M e l t i n g alloy a n d b a r c h a r g e s
1, 348, 958 86
P r o f i t s on s t a n d a r d s i l v e r d o l l a r s c o i n e d
2, 057 74
P r o f i t s on s u b s i d i a r y s i l v e r coined
476, 432 04
P r o f i t s on t h e m a n u f a c t u r e of m i n o r c o i n s .
3,399 62
P r o f i t s on m e d a l s a n d p r o o f coins
494 00
A m o u n t r e c e i v e d from a s s a y s of o r e s
G r a i n s , fluxes, a n d s w e e p i n g s
1, 737 48
M e l t e r aud refiner . . . .
P r o c e e d s of s a l e of old m a t e r i a l
Profits* on l e a d y m e l t s sold
Total

1,153 55

San Francisco.

N e w Orleans.

Carson.

$158, 200 21
4, 400 74
1,390,840 97

$176 10
1, 256 08
601, 294 19

$14, 749 24
350 42
97, 735 39

$586 31

154 00
935 39
18, 245 71

60 00
159 29

81 00

444 00
400 50

1, 815 86

143 99

120 00

•

Denver.

.

Saint
Louis.

NewYork.

Boise.

$94, 905 48
4,717 31

^185 46

$157 03

$754 07

$11 20

199 00

327 00
60 22

1, 077 00
244 35

91 00
5 15

. 6 09

194 60

151 77

3 81

390 55

738 85

2, 227 19

111 16

515 00
5, 380 31
21, 729 15

57 16

Charlotte.

Helena.

75 51
1, 845, 745 50

1, 574, 592 88

603, 089 65

113, 036 05

1, 487 97

127, 322 76

$278, 882
13,079
3, 438, 829
2, 057
476, 432
3 399
3, 442
8, 922
39, 974
413
3, 233
75

00
86
41
74
04
62
00
69
86
43
40
51

4, 268,742 56

o
H
O

*^
H

w
I—(

EXPENDITURES.
Salai'ies of officers a n d c l e r k s
Wao"es of w o r k m e n
Contingentexpenses, not including wast-

33, 424 72
369, 235 46
129, 073 26

P a r t i n g a n d refining e x p e n s e s , n o t i n c l u d i n g w a s t a g e a n d loss o n s w e e p s
E x p e n s e s of d i s t r i b u t i n g s i l v e r d o l l a r s . .
W a s t a g e of t h e o p e r a t i v e officers
L o s s on sale of s w e e p s
..
...
E x p e n s e s of d i s t r i b u t i n g m i n o r coins
L o s s on b a l l i o n shij)ped t o t h e M i n t
Minor coinage metal w a s t e d
L o s s a d j u s t i n g v a l u e of s i l v e r b a r s
Total




, 6,126
36, 213
22, 738
7,170
i l , 080

82
01
51
43
22

24, 900 00
260, 884 42

19, 974 14
85,124 95

23, 550 00
64, 237 00

10, 950 00
10, 497 75

66,137 55

37, 970 26

27,155 47

4,125 68

29
12, 624
2, 835
1, 015

14, 558
1, 703
2,024
2, 288

147, 279
13, 484
4,149
9, 993
13, 485

30
84
13
72
62

00
38
25
81

81
88
07
21

33, 073 59
24, 830 25

3,000 00
3, 965 00

2, 750 00
242 76

5, 950 00
9, 744 79

2, 999 80
735 00

160,572 25
829, 497 38

8, 988 32

1,268 62

1, 260 54

6, 756 77

*8,145 85

290, 882 32

87,653 56
" • " '

.

^

4, 911 97
6,182 19
69 04

82 50

875 82
16 64
615, 954 89

540, 314 58

159, 573 79

135, 517 44

25, 642 47

165, 639 88

* Includes $6,896.11 for fixtures and apparatus.

8, 316 12

4, 253 30

22, 451 56

11, 880 65

255,
64,
36,
26,
24

647
026
658
650
565
151
875
16

49
11
93
36
84
54
82
64

1, 689, 544 68

o
w

239

DIRECTOR OF THE MINT.

n i l . — C O M P A B A T I V E TABLE showing the OPEBATIONS for the fiseal years 1881
and 1882 at the COINAGE MINTS and N E W YOBK ASSAY OFFICE.
PHILADELPHIA.
1882.

1881.
value.

$70, 651, 442 91

$69, 458, 054 35

.pieces'..
do
do....

7, 275, 926
9,174, 820
38, 335, 665

8, 270, 450
11,100, 300
48, 865, 725

do..-.

Deposits

54, 786,411

66,236,475

value.. $49, 809, 274 00
do....
9,125, 966 75
do....
405,, 109 95

$59, 678, 437 50
11, 062, 388 75
644, 757 75

.'

Gold coinage
Silver coinage
Minor coinage
Total coinage
•Gold coinage
• Silver coinage
Minor coinage
Total coinage

'.

do..-.

Total bars.

,

59, 340, 350 70

71, 385, 584 00

do.-..
do....

:

"Gold bars
Silver bars

236,141 78
60,123 09

238, 878 96
146,163 05

do....

296, 264 87

385, 042 01

standard ounces. do....
do-...
do....

7, 669,139
16, 551, 054
7, 233, 415
16, 259, 728

8, 085, 022
20, 592, 228
7, 527, 054
19, 578, 321

do....
do....
do
do.--.

Gold operated upon by melter and refiner
•Silver operated upon by melter and refiner
Gold operated upon by" coiner
"Silver operated upon by coiner

352
1,050
197
1, 869

754
728
295
2,477

Gold wastage of melter and refiner
Silver wastage of melter and refiner
Gold wastage of coiner
Silver wastage of coiner
SAN FRANCISCO.

'
;

Deposit.s

do
.:

G^old coinage
Silver coinage

•.

Gold bars Silver bars
Total bars;
Gold operated upon by melter and refiner
Silver operated upon by melter and refiner
Gold operated upon by coiner
SUver operatedvupon by coiner
Gold wastage of melter and refiner
Silver wastage of melter and refiner
Gold wastage of coiner
Silver wastage of coiner




2, 774, 000
11, 460, 000

$38, 715, 497 04
2, 900, 000
11, 000, 000

14, 234, 000

13,900,000

$28, 500, 000 00
value.. 11, 460, 000 00
do....
, - . . d 0 . - - . 39, 960, 000 00
do..-.
8, 700 55
1, no, 045 74
do..-.

$28, 850, 000 00
11, 000, 000 00

do.-..

Total coinage

1882.

value •. $41, 959, 062 71
pieces.-

G old coiuage
Silver coinage
Total coinage

1881.

do....

1,118,746 29

39, 850, 000 00
884 30
734, 417 28
735, 301 58

standard ounces. do....
do.--.
do....

3, 236, 755
22, 471, 852
3, 230, 718
20, 960, 005

2, 961, 882
18, 919, £14
2, 988, 957
18, 202, 319

:....do....
do..-.
..do....
do---.

1,229
2,498
168
942

170
979

240

REPORT ON T H E FINANCES.

X l l . — C O M P A B A T I V E TABLE showing the OPEBATIONS for the fiscal years 1881
and 1882 atthe COINAGE MINTS, ^jc—Continued.
CARSON M I N T .

1882.

1881.
T)GDOSita

.

-

--

value

. . .

Gold coinage
S i l v e r coinage

pieces. do

$1,108, 376 65

$2, 020, 335 29'

53,189
539, 000

85, 383
763, 000

592,189

848, 383.

value. -

$344, 590 00
539, 000 00

$783, 310 00
763, 000 00

do....

883, 590 00

1, 546, 310 00

do....

Total coinage

49,133
1,129, 355
40, 407
1, 010, 406

102,107
1,661,79088, 05S
1, 416, 926-

24
249
3
.148

67
383:
5.
218.

do....

Gold c o i n a g e
Silver coinage
Total coinage,
Gold o p e r a t e d u p o n b y m e l t e r a n d refiner
Silver o p e r a t e d u p o n b y m e l t e r a n d r e f i n e r . . - .
Gold o p e r a t e d u p o n b y ' c b i n e r
Silver o p e r a t e d u p o n b y coiner
G o l d w a s t a g e of m e l t e r a n d lefiner
Silver Avastage of m e l t e r a n d r e d n e r
G o l d w a s t a g e of coiner
S i l v e r w a s t a g e of c o i n e r
:

--

standard ounces..
do....
do....
do---.
do.--.
do....
.--.do.-..
do....

N E W ORLEANS MINT.

1882.
Deposits

value.

Silver coinage

•
-

$6, 439, 652 39

$5, 367, 449 03:

-. pieces.

Gold coinage

8,000
6, 525, 000

10,1704, 958, 000-

-"- - . d o . . -

6, 533, 000

4, 968,170>

value.

$80, 000 00
6, 525, 000 00

$101, 700 00>'
4, 958, 000 OO

do. - -

6, 605^ 000 00

5, 059, 700 OO-

do. - -

Total coinage

11,850
9, 976, 250
9,564
• 9,952,845

14-, 520^
8,100, 72512, 244
8, 096, 216.

656

13:
1, 972?

do...

Gold coinage
Silver coinage
Total coinage
Gold operated upou by melter and refiner
Silver operated upon by melter and refiner
Gold operated upon by coiner
Silver operated upon by coiner
Gold wastage of melter and refiner
Silver wastage of melter and refiner
Gold wastage of coiner
Silver wastage of coiner

standard ounces.
do...
do. - .
d6...
do.. do. - .
do. -do.. -

i'oei"

N E W YORK ASSAT OFFICE.

Deposits and bars.
Gold d e p o s i t s
Silver d e p o s i t s
Total deposits.
Gold, fine b a r s m a n u f a c t a r e d
Gold, m i n t b a r s m a n u f a c t u r e d
Silver, fine b a r s m a n u f a c t u r e d
Silver, s t e r l i n g b a r s m a n u f a c t a r e d
Silver, m i n t b a r s m a n u f a c t a r e d
Total bars manufactured




1881.
v a l u e . . $99,635,644 46
5, 285, 715 57
do.--.
104,921, 360 03
do . . .
9. 805, 028 07
do....
89, 643,135 29
4, 763,189 08
do....
1,418 03
do....
519,047 53
do..-.
do....
d o . . . . 104,731,818 00

1882.
$35, 994, 087 09>
7,168, 260 21
43,162, 347 3011,800,644 00
52, 469, 870 6 4
5, 600, 263 52
8,181 25.
519, 047 53
70, 398, 006 9^

DIRECTOR OF T H E MINT.

241

X m . - S U M M A B Y of the OPEBATIONS and EABNINGS at the DENVEB M I N T
and CHABLOTTE, HELENA, BOISJjJ, and SAINT LOUIS ASSAY OFFICES Jor
the fiscal year 1H8'2.
Denver.
$458, 847 07
Gold d e p o s i t s
7, 053 02
Silver deposits
U u p a r t e d b a r s m a n u f a c t u r e d . 465, 900 09
Charges collected:
On d e p o s i t s
586 31
444 00
On ore a s s a y s
1.487 97
Total earnings
25, 642 47
Total expenses

Cbarlotte.

Helena.

Saiut
Louis.

Bois6.

Total.

$81, 889 36 f 684, 475 53 $146, 305 82 56,185 92 51, 377, 703 70
772 99 145, 306 05
2, 318 43
778 87
156, 229 36
82, 662 35 820, 781 58 148, 624 25 6, 964 79 1, 533, 933 06
1.57
327
738
4, 253

03
00
85
30

754
3,077
2,227
22, 451

07
00
]9
56

185
199
390
8,316

46
11
00
91
55
in
12 11,880

20
00
16
65

1,694
2,138
4, 955
72, 544

07
00
72
10

X T ¥ . —WASTAGE and LOSS on SALE of SWEEPS, 1882.
c3

O.a

Losses.

n
p

M e l t e r a n d refiner's gold w a s t a g e $14,037 64
C o i n e r ' s gold w a s t a g e
5, 495 42
M e l t e r a n d refiner's s i l v e r w a s t a g e
728 04
Coiner's silver wastage
2, 477 41
L o s s on sale of s w e e p s
7,170 43
Total

29, 908 94

P a i d a s folloAvs:
F r o m contingent appropriation .. F r o m p a r t i n g a n d refiuiug a p p r o -

U , 142 85
2, 253 30
1,416 47
5, 765 63
' 4, 707 45

29, 908 94

Total

23, 309 23

14,142 85

^ 6

P.
e:

o§

if •
C.3

p
o

^1

o

o

$1, 248
99
391
284
979 42
9, 993 72 2, 288

$3,169 71

119 22
1,389 70
5, 090 79

F i o r a piofit a n d loss
F r o m s i l v e r profit fuud

03

o

o
95
42
31
39
21

36
80
07
02
81

$4, 911 97

95
35
39
24
36

4 cfl2 28 1 3 9.^\ (ifi

11,094 16

63 309 29

1, U
U
0 42

$253
1
2, 020
660
1, 015

$15,589
8 766
8, 051
4.301
6,182 19 26, 650

-

761 80

5 37

27,168 32
11, 094 10

1,950 06

223 26
163 04
3, 459 39

2, 520 75
18,412 53
15, 207 69

4,312 28

3, 851 06

11, 094 16

63, 309 29

XV.—GOLD DEPOSITS, less BEDEPOSITS, for the calender year 1881.
Institutions.

F o r e i g n bullF o r e i g n coin.
ion.

$40, 545
Philadelpbia
San F r a n c i s c o . - - 2, 637, 925
Carson
Denver
1,570
NewOrleans....
27,13a, 223
New York
Boise
Helena
Cbarlotte .

12
62

Total.

Domestic
bullion.

$122, 308 67
$118, 796 06
5, 657, 677 53 25,195,05^ 4L
815, 964 09
458, 622 99
49
68, 665 56
8, 869 73
66, 995 07
65 29, 398, 776 63 56, 532, 000 28 6, 904, 264,19
150, 765 51
539, 139 91
492 13
492 13
76, 370 96
$78, 250 94
3, 019, 751 91

29, 813, 264 88 32, 564, 266 68 62, 377, 531 56 34, 271, 359 46

Total

Coin a n d j e w Grand total.
elers' bars.
$734, 445 60
37, 699 65
82 68

" " i,'827'52

$975, 550
30, 890, 430
816,046
458 622
113, 519
64, 740, 659
150, 765
539 ]39
78,600

2,114, 535 06

98, 763,426 08

36, 084 65
1, 304, 394 96

30
59
77
99
94
43
51
91
61

X Y I . — S T A T E M E N T of SILVEB DEPOSITS and PUBCHASES for the calendar
year 1881.
Institutions.

Pbiladelpbia....
SanFrancisco...
N e w Orleans
NewYork
Cbarlotte

F o r e i g n bull- F o r e i g n coin.
ion.
$37, 540 51
1,198, OSO 71

$10,823 85
159, 555,16

11,342 78
202, 776 13

353, 025 94
142,154 84

1,449, 740 13

665, 603 49

43 70

.

Total

16 F



Total.

Domestic
bulliou.

$48, 364 36 $6, 832, 734
1, 357, 635 87 10, 532,493
804, 405
5,068
364, 368 72 4, 404, 241
344,930 97 5, 219, 026
2, 433
98, 284
523
43 70

Coin a n d j e w Grand total.
elers' bars.

66
$78, 497 81
6, 205 27
93
16 84
67
62
68 " " ' 2 6 , 7 7 1 " 22
78
20.0, 693 48
55
61
62
106 88

2,115, 343 62 27, 899, 213 12

312, 291 50

$6, 958, 596
11, 896, 335
804,422
5, 068
4, 795, 381
5,764,651
2, 433
98, 284
674

83
07
51
69
62
23
55
61
20

30, 326,848 24

242

REPORT

ON T H E

FINANCES.

X Y I I . — G O L D and S I L V E B of DOMESTIC PBODUCTION D E P O S I T E D at the
MINTS and ASSAY OFFICES from tlieir OBGANIZATION to the close of the fiscal
year ended June 30, 1882.
Locality.

Gold.

Alabama
Alaska
Arizoua
Califoi'uia
Colorado
Dakota
Geuigia
Idaho
-Indiana
Maiue
Mai-yland
Massacbusetts
Michigan (Lake Superior).
Montaua
Nevada
'
New Hampsbire
^
New M exico
North Caroliua
Oregon
Soutb Carolina
Tennessee
TJtah
Vermont
"Virginia-.-•.
AVashington Territory
Wyominir ..
Refined bullion
Parted froui .silver
Contained in sih'er
Paited flom gold
Contained iu gold
Other sources

Silver.

$221; 886 05
46, 254 51
:{
2, 963, 5 - 7 38
716, 354,816 23
39, 393,894 91
14, 050,169 82
7, 922,794 17
25, 288,037 98
40 13
.5, 516 86
1, 087 91

7, 073, 251 68
526, 284 79
32, 574, 302 44

$221, 886 05
46, 421 81
13, 235,980 88
718, 918,409 55
61, 322,605 79 •
14,101, 039 34
7, 923,668 63
26,185, 189 34
40 13
5,538 24
1,087 91
917 56
3, 500,957 08
58, 062,383 93
97, 743,571 51
11, 020 55
4, 667,120 44
10,786, 316 09
16, 856,582 40
1, 435,565 66
86, 620 86
13, 588,049 12
024 77
11, 592 21
1, 694,354 70
259, 810 42
739, 742 97
304, 783,768 48
16, 699,268 97
9, 322,
251 68
7, 073,284 79
526, 142 95
43, 078,

256, 855, 260 36

1, 432, 889, 214 81

$167 30
10,272,443 50
2, 563, 593 32
21, 928, 710 88
50, 869 52
874 46
897,151 36
21 38
917 56
3, 500, 830 93
6, 580, 549 99
81, 226, 931 53

126 15
51,481, 833 94
16, 516,689 98
11, 020 55
1, 687,369 93
10.739, 759 24
16, 816,275 39
1, 435,390 36
86, 616 20
531, 152 72
10, 981 27
1, 694,509 35
259, 027 88
727, 992 24
231, 261,345 34
16, 699,708 48
9, 322,268 97

2, 979, 750 51
46, 556 85
40, 307 01
175 30
4 66
13, 056, 896 40
43 50
82 86
326 82
11,818 18
73, 522, 397 63

10, 503, 840 51

Total

Total.

1,176,033,954 45

X Y M l . — S T A T E M E N T of COINAGE from the OBGANIZATION of the M I N T to tlie
close of tlie fiscal year ended June 30, 1882.
GOLD COINAGE.
Double
eagles.

Eagles.

$646,727,980
4^283,900
32,748, 140
37, 896, 720
43, 941, 700
51,406,340
37, 234, 340
21, 515. 300
15, 345, 520
14, 563, 920

i25, 662, 270
29,851,820
383, 480
599, 840
153,610
56, 200
155, 490
1,031,440
18, 836, 320
33, H89, 050
44, 369, 410

Period.
1793 to 1848.,
1849 to 1.873.
1874
1875
1876
1877
1878
1879
1880
1881
1882

,
,

,
,

Total

Half
eagles.

Tbree
dollars.

Quarter
eagles.

IVo, 265, 355
$5, 413, 815
22, 994, 390 $1,169, 913 20, 804, 702
809.
516,150
125, 460
60
2, 250
203,
53, 052
135
71,
4,464
5, 780
67,
137. 850
408, 900
688,
109,182 1,166, 800
1, 442,
9,090
15, 790,
3, 075
4,698
29, 982,
9,140
30, 473,
75
62

Dollara.
00
50
00
00
.50
00
00
00
00
00
50

Total.

$76,341, 440 00
1,015,633 740, 564, 438 50
50, 442, 690 00
323, 920
33, 553, 965 00
20
38,178, 962 50
3,645
44. 078, 199 00
2, 220
52, 798, 980 00
1, 720
• 3,020 ' 40, 986, 912 00
56,157, 735 00
3, 030
78, 733, 864 00
3,276
89, 413, 447 50
6, 025

949, 663, 920 154, 488, 930 147, 790, 620 1, 560, 927,28, 383, 727 50 19, 362, 509 1, 301, 250, 633 50
SILVER COINAGE.

Period.

Dollars.
$2, 506, 890
5, 538, 948

1793 t o 1852
1853 t o 1873
1874
1875
1876
3877
1878
1879
1880 . .
1881
1882

Total

T r a d e dollars.

$3, 588, 900
5, 697, 500
6,132, 050
9,162,900
11, 378, 010

....




35, 959, 360

8. 573, 500
27,227,500
27, 933, 750
27, 637, 955
27, 772, 075
127,190, 618

Half dollars.
$66,
33,
1,
2,
4,
9,
^3,

249,153
596, 082
438, 930
853, 500
985, 525
746, 350
875, 255
225
3, 275
4, 677
5, 537

Q u a r t e r dollars. T w e n t y c e n t s .

00
50
00
00
00
00
00
00
00
50
50

$3, 999, 040 50
18. 002,178 00
458,515 50
623,950 00
4,106,262 .50
7, .584,175 00
3, 703, 027 50
112 50
3,837 50
3, 638 75
3, 268 75

122, 758, 510 50

38, 488, 006 50

V

$5, 858
263, 560
1,440
142

'271 000

DIRECTOR

243

OF T H E MINT.

X Y l l l . — S T A T E M E N T of COINAGE, cfc—Continued.
SILVER COINAGE.
Period.

Dimes.

1793 to 18.52
1853 to 1873
]874
1875
1876
1877
3878
1879
18S0
1881
1882
•

Half dimes.

Three cents.

Total.

$3, 890, 062 50
5,170,733 00
497, 255 80
889, 560 00
3, 639, 105 00
2, 055, 070 00
760, 891 00
45 00
1, . 7 00
55
3, 695 50
2, 507 50

$744, 927 00
536, 923 20

$79, 213, 371 90
65,928,512 70
5, 983, 601 30
10, 070, 368 Oo
19,126, 502 50
28, 549, 935 00
28, 290, 825 50
27 297 882 50
27, 942, 437 50
27, 649, 966 75
27, 783, 388 75

16, 910, 500 30

Total

$1, 823, 298 90
3, 083, 648 00

4, 906, 946 90

1, 281, 850 20

347, 766, 792 40

^
MINOR COIN.

Period.
1703 to 1873
]874
1875
1876
1877
1S78
1879
1880
1881
1882 . . ..
Total

Five cents.

Three ceuts. T w o cents.

Cents.

Half cents.

Total.

$5, 276,140 00 $805, 350 00 $912, 020 00 $4, 886, 452 44 $39, 926 11 $11, 919, 888 55
137, 935 00
244, 350 00 29, 640 00
411 9 ^ 00
'5
123,185 00.
94, 650 00 12,540 00
230, 375 00
120, 090 00
7,560 00
132,700 00
260, 350 00
36, 915 00
25, 250 00
62 165 00
30, 566 00
4 Q 00
30 694 00
80 00
95, 639 00
984 00
1,175 00
97, 798 00
267,741 50
982 50
1,247 50
269, 971 50
372, 515 55
32, 416 65
405 109 95
177 75
424,614 75
104 25
220, 038 75
644,757 75
5, 995, 809 00 "889, 625 40

912, 020 00 6, 495, 654 24 39. 926 11 14, 333, 034 75

X I X . — A S S A Y of COINS of JAPAN.
[Translation.!
L E G A T I O N OF J A P A N ,

WasMngton, 1st, 10th month, 14 Meiji.
S I R : Under instructions from my governmeot I have again the honor of transmitting to you, for the purpose of having them assayed at the mint o f t h e United States,
a number of cuttings and dips from the coinage of t h e Japanese mint for the financial year 1880-1881. Accordiug to t h e letter from the assayer of the imperial mint, a
copy of which is inclosed for information, the accompanying packet contains three
five-yen pyx pieces of gold coin and one gold cutting from bar, and five silver yen
coins and one granulated dip.
It is hardly necessary for me to add that the kindness with which the Treasury
Department has hitherto responded to the wishes of my government is most fully
appreciated.
Accept, sir, the renewed assurance of my highest consideration.
YOSHIDA KIYONARI.
Hon. J A M E S G . B L A I N E ,

Secretary of State.

I M P E R I A L M I N T , ASSAY D E P A R M E N T , Jmie 29, 1881. -

D E A R S I R : Three five-yen and five silver yen coins, selected this morning by Mr.
Yoshihara, vice-minister of finance, from t h e ' ' p y x " pieces representing the coinage
o f t h e mint for the financial year 1880-1881, have been individually assayed by me.
Ninety-eight, being the remaining five-yen coins, were melted and cast into a har. A
cutting was taken from this har and assayed. Tvvo hundred of the silver yen coins
were melted, a " d i p " was taken from the molten metal and granulated, and the
granules were assayed.
The results are as follows:
Gold five-yen coin, August 21,1880
900.0
Gold five-yen coin, February 28, 1881
900.1
Gold five-yen coin. May 5, 1881
.;
900.0
Gold five-yen cutting from bar
899. 8



244

REPORT ON T H E

FINANCES.

Silver yen coin, Angust 21,1880
900.4
Silver yen coin, December 16,1880
900.2
Silver Ven coin, January 21,1881
900. 3
Silver yen coin, April 14,1«H1
899.9.
Silver yen coin, June 8, 1881
902.2
Dip granulated
903. 3
Each coin, as well as the " c u t t i n g from b a r " and the granules from ' ' d i p , " was
divided into four p a r t s ; one part was assayed by me as above, and the pther three
parts were separately sealed up in yonr presence and delivered to you.
In every case the coins are well within the permitted deviation as to fineness.
I have the honor to be, sirs, yonr obedient servant,
WILLIAM OOWLAND, F . C. S.,
Associate of tlie Boyal School of Mines.
The

COMMISSIONER.

T R E A S U R Y D E P A R T M E N T , B U R E A U OF THE M I N T ,

Washington, D. C , Octoher 1'6, 1881.
S I R : The following is the result of assays of the samples of gold and silver coin
from the Japanese mint handed me by you for asssay. I also give the assays of the mint
of J a p a n :
ITnited
States.
F i v e yen, A u g u s t 21, 1880 . : . .
F i v e yen, F e b r u a r y 28, 1881..
. F i v e yen, M a y 5,1881
C u t t i i i g from b a r
S i l v e r yen, A u g u s t 21, 1880 . .
S i l v e r yen, D e c e m b e r 16, 1880
S i l v e r yen, J a n u a r y 21, 1881..
S i l v e r yen, A p r i l 14, 1881
S i l v e r yen, J u n e 8,1881.
S i l v e r yen, d i p g r a n u l a t e d . . .

900
900.1
900
899. 8
900.4
900. a
900.3
899.9
902. 2
903.3

900
900.2
900.1
900.1
900.6
901.6
902.6
900.3
900
900

Very respectfully,
W. P. LAWYER, Assay&r.
Hon.

H O R A T I O C.

BURCHARD,

Director of the Mint.
X X . — A V E B A G E MONTHLY P B I C E of F I N E SILVEB BABS at LONDON,
^ c , during fiscal yearending Jane 30, 1882. }
03 , - ©

.5 ^ ^

II
Date.

.o s

.sl

b 3 ^

P o

^-' 2 « O
fl^«H^^S

> p o

July
August
• September
October
November
December

•..

Pence.
51§
51^
5l|
51|
51/5
51|

rt

^^-^

^ fl

fe <1^ -!

.E; 5 «=> 9 fl S

^
1881.

O

S o o
® >,fl

P^Oi

• -+3

c? > ^

cr fl i-( fl +3 c3

$1
1
1
1
1
1

12.619
]2. 893
13.441
13.715
12. 893
13.715

$4
4
4
4
4
4

86.1
84.5
84. 5
84.3
85. 1
84.8

$1
1
1
1
1
1

12. 454
12. 543
12. 833
13.199
13. 396
13.282

1
1
1
1
1
1

13. 989
13. 989
13.852
14.126
14. 263
13. 989

4
4
4
4
4
4

87
90.4
90
90
94.7
89.6

1
1
1
1
1
1

14.121
14. 937
14.7
15. 081
15. 386
13. 879

13. 603
14. 776
14. 456
14. 734
15. 1.54
14. 964

1 13. 817

1 13. 799

$1
1
1
1
1
1

14
32.308
12. 593
12. 927
13.141
12. 935

1882.
January
February
March.
April
May
June
Average




52
52
'...

Site
52^
52§
52

51il

1 13.623

4. 87. 5

DIRECTOR OF T H E MINT.

245

X X l . — S I L V E B PUBCHASES.
T R E A S U R Y D E P A R T M E N T , O F F I C E OF T H E SECRETARY,

Washington, D. C , January 13, 1882.
S I R : You are authorized to instruct the superintendents of the coinage mints, in
the coinage of standard silver dollars, to use silver parted from gold deposits or received in payment o f t h e charges on silver bullion deposited for bars, and to direct
t h a t all silver bullion ])rocured in this manner, not needed to be held under the provisions of section 3545 of the Revised Statutes for the immediate payment of deposits
for bars, be trausferred to the silver-bullion-pnrchase account, and thereby become
a purchase for silver coinage at the rate paid or allowed depositors therefor.
Very respectfull}^,
CHAS. J. FOLGER, Secretary.
Hon.

H O R A T I O C . BURCHARD,

^

Director of tlie Mint.

T R E A S U R Y D E P A R T M E N T , O F F I C E OF THE SECRETARY,

Washington, D. C , Jaiiuary 30, 1882.
SIR : The several superintendents of the coinage mints are hereby authorized to purchase and receive for use in the coinage of standardsilver dollars-any mutilated, worn,
or otherwise uncurrent United States silver coins of standard fineness when delivered
in sums of three dolLars and upwards, and to pay for the same, withont previous melt
or assay, at a rate not exceeding one dollar per ounce of silver of standard fineness
thereiu contained.
Silver j)urchased under this authority may be held until the end of each month, and
then deposited and entered in gross as a purchase from the superintendent or from one
of his clerks.
Respectfally,
CHAS. J. FOLGER, Secretary.
Hon.

HORATIO C . B U R C H A R D ,

Director of the Mint.

TREASURY^ D E P A R T M E N T , B U R E A U OF THE M I N T ,

Washington, D. C, Fehruary 7, 1882.
The silver contained in bullion taken for assay from silver bullion deposited for unparted bars may be paid for by the assayers in charge of the United States inint a t
Denver and the assay offices at Helena, Bois6 City, Charlotte, and SaintLouis in coin
at the rate of oue dollar per ounce of standardsilver, and will be transmitted by them
with other bullion to the coinnge mints to be used in the coinage of standard silver
dollars.
Respectfully,
HORATIO C. BURCHARD, Director.
ApproA^ed:
CHAS. J. F O L G E R , Secretary.




246

REPORT

ON T H E

FINANCES.

X X I I . — S T A T E M E N T shoiving the N U M B E B OF OUNCES at STAND ABD and COST
of SILVEB B U L L I O N PUBCHASED and D E L I V E B E D ai the COINAGE MINTS
and the ASSAY OFFICE at N E W YORK, and the N U M B E B of S I L V E B DOLLABS COINED E A C H MONTH from March 1, 1878, to Decemher 31, 1881.
I This statement includes bullion carried to silver-purchase account since January 1, 1881, received
in Iiayment of charges retained in fractions of bars paid for in coin and surplus deposited or returned
at annual settlement.]

Date.

Ounces at standard
of silver bullion
purchased and
delivered.

Standard silver
dollars coiued.

Cost.

1878.

March
,
April
May
June
July
August
September ,
October . . .
November.
December .

2, 574,264. 79
6, 075,779. 42
1, 498,668. 53
1,861, 676. 79
2, 925,987. 29
3, 278,919. 43
• 2, 950,
467.14
2, 487,715. 69
1, 611.697. 22
1, 756,030. 37

January —
February..
March
April
May
Jurie
July
August
SeptemberOctober . . .
November.
December .

2, 202,792. 97
1, 297,788.16
784, 147. 58
486. 592. 21
1,351, 667. 73
252. 950. .^3
1, 650,389. 93
2, 024,589. 50
1, 903,801. 09
1, 949,507. 59
2, 487,789. 51
2,185, 286. 83

^2, 850, 537 65
6, 600, 484 29
1, 595, 504 63
1, 976. 742 39
3, 043, 580 51
3, 408,126 87
3,018,818 02
2, 494, 215 03
1, 602. 470 10
1, 737,133 94
2,170, 085
1, 273,544
763, 822
478, 307
1,344, 138
259, 399
1, 694,485
2, 052,045
1,926, 409
2, 000,027
2, 599,550
2, 255,721

1, 001, 500
2, 470, 000
3,015,000
2, 087, 000
1, 847, 000
3, 028, 000
2, 764, 000
2, 070, 000
2,156, 050
2, 057, 000

57
28
80
91
76
20
79
86
06
33
38
00

2, 060, 200
2,132, 000
2, 087, 200
2, 381, 000
2, 330, 000
2,315,050
1.650,000
2, 787, 050
2, 396, 050
2, 572,100
2, 499, 000
2, 350, 450

555. 94
963. 72
OJO. 57
064. 41
387. 76
389. 42
097. 97
227. 58
861. 76
846. 32
534. 93
927. 93

2, 388,259 29
2, 027,803 51
2,155, 918 35
1, 936,029 84
2, 236, 118 01
1, 962,713 11
2, 692,982 52
1, 943,448 53
2, 273,287 68
2, 481,043 67
2, 284,266 73
1, 798,454 43

2, 450, 000
2, 300, 400
2, 350, 200
2, 300, 000
2, 267, 000
2,011,500
2, 280, 000
2, 253, 000
2, 301, 000
2, 279. 000
2, 300, 000
2, 305, 255

January....
Februar5%.
March
April
May
June
July
August
September.
October —
November.
December .

1,580, 674.12
1,529, 759. 30
1,185, 098.19
987, 765. 21
1,710, 674. 00
], 747, 673. 92
1, 996,465. 02
1, 914,4;i8. 32
2,218, 039. 63
2, 390,787. 01
2, 006,273. 81
2, 223,827. 95

1, 586,607 10
1, 549,669 09
1, 209,751 83
1, 002,315 67
1, 738,246 36
1,767, 801 14
2, 018,638 25
1, 936,898 32
2, 2.50,771 20
2, 430, 080 20
2, 042,273 96
2, 260,518 40

2, 300, 000
2, 307, 000
2, 299, 500
2, 300, 000
2, 300, 000
2,413,200
2, 250, 000
2, 300, 000
2,400,000
2, 350, 000
2,300,000
2, 408, 275

Total

92, 554, 861. 09

95,119, 048 56

2, 012, 062. 20

2, 067, 805 40

1880.

January..
February.
March.
April.
May
June
July
August
September..
October —
November..
December.
1881.

Monthly average.




105, 380,!

DIRECTOR

OF T H E

247-

MINT.

: ^ X I I I , — C I R C U L A R , ESTIMATING AND PROCLAIMING, IN UNITED STATES
MONEY OF ACCOUNT, THE VALUES OF T H E STANDARD COINS IN CIRCULATION OF T H E VARIOUS NATIONS OF T H E WORLD.
TREASURY DEPARTMENT,
B U R E A U OF THE MINT,

1882.
DEPARTMENT No.

1,

Secretary's Offiice.

Washington, D. C , January'Z, 1882.
S I R : In pursuance of the provisions of section 3564 of t h e Revised Statutes of the
United States, I have estimated the values of the standard coins in circulation of the
various nations ot the world, and submit the same in the accompanying; table.
- Very respectfalh^
HORATIO C. BURCHARD,
^
}.
Director of the Mint.
Hon.

C H A S . J. F O L G E R ,

Secreiary of the Treasury.
E S T I M A T E of VALUES of F O B E I G N COINS.

flfl
Country.

Moneta:ry u n i t .

Standard.

S t a n d a r d coin.

Austria
Belgium
Eoii via
Brazil - . - . .
.:....
British Possessions in
North America.
Chili.....................

Florin
Franc
-.
Boliviano . . . : - . - . . . .
M i l r e i s of 1,000 r e i s .
Dollar

Silver
Gold a n d s i l v e r
Silver
Gold
...do

50 40. 6
19.3
•82. 3
54.6
1 00

Peso.

Gold and silver

9L2

Cuba . . . . .
Denmark .
E c u a d o r ..
Egypt....

...do ...
Crown Peso
Piaster .

-:.do Gold..
Silver..
Gold..

France..
..
Great Britain.

Franc
P o u n d sterling

Gold a n d s i l v e r
Gold....

Greiece...

Drachma .

Gold a n d s i l v e r

German Empire .
Hayti
India
Italy . . . . . . . . . . . .
Japan

Mark
Gourde . . . . . . . . . . .
K n p e e o f 16 a n n a s .
Lira . . . . . . . . . . . . . .
Ten

Gold
Gold and silver
Silver .-...
Gold a n d s i l v e r
Silver
....,

Liberia .
Mexico .

Dollar .
...do ..

Gold...
Silvei- .

1

Netherlands . . . . . .
Norway.
Peru -.,....
Portugal
Russia'-^
Sandwich Islands.

Florin
...
C r o w n -J
......
Sol
:..
M i l r e i s of 1,000 r e i s . .
R o u b l e of 100 c o p e c k s .
Dollar . . . . . - : . . . . . . . . .
P e s e t a of 100 c e n t i m e s .

Gold a n d s i l v e r
Gold.-.:
Silver ..'.
Gold
Silver
Gold...-.-.....
Gold a n d s i l v e r

1

Sweden
;
Switzerland.
Tripoli
Turkey

Crown
: -..
Franc
.
M a h b u b of 2 0 p i a s t e r s .
Piaster
^......

Gold....
Gold a n d s i l v e r
Silver . . . . . . . . .
Gold

....

ITnited S t a t e s of Colombia Peso
Venezuela
Bolivar .

5,10, a n d 20 francs.
Boliviano.

Condor, doublooUi arid
escudo.
T\J> h, 4» 21 a n d 1 doubloon.^ ,
10 a n d 20 c r o w n s .
Peso.
5,10, 25, 50, arid 100 p i a s ters.
19.3 5,10, a n d 20 francs.
86. 6i I s o v e r e i g n a u d sovereign.
19.3 5,10, 20, 50, a n d 100 d r a c h mas.
23.8 5,10, and 20 m a r k s .
96.5 1, 2, 5, a n d 10 g o u r d e s .
39
19.3 5,10, 20, 50, a n d 100 lire.
88.7 1,2, 5,10, a n d 2 0 y e n ; gold
a n d silver yen.
00
89.4 P e s o or dollar 5, 10, 25,
a n d 50 c e n t a v o .
40.2
26.8 10 a n d 20 c r o w n s .
82. 3 Sol. 08
2, 5, a n d 10 m i l r e i s .
65.8 ^, ^, a n d 1 r o u b l e .
00
19.3 5,10, 20, 50, a n d 100 p e s e tas. ,
10 a n d 20 c r o w n s .
19.3 5,10, a n d 20 francs.
74.3
04.4 25, 50, 100, 250, a n d 500
piasters.
82.3 P e s o . . .
19.3 5, 10, 20, 50, a n d 100 Bolivar. .
93 2
26.8
82.3
04.9

.Silver
Gold a n d s i l v e r

4

1

T R E A S U R Y DEPARTMENT,

Washington, D. C , January 2, 1882.
The foregoing estimation, m a d e by the Director of the Mint, of the value of t h e
foreign coius above mentioned, I hereby proclaim to be the values of such coins expressed in the money of account of the United States, and to be taken iu estimating
t h e values of all foreign merchandise, made out in any of said currencies, imported
oa or after January 1, 1882.
CHAS. J. FOLGER,
;
Secretary of the Treasury.




248

REPORT. ON T H E

FINANCES.

X X I Y . — S T A T E M E N T of IMPOBTS and E X P O B T S of GOLD and SILVEB during
the fiscal year ended June 30, 1882. {Reported hy Chief of Bureau of Statistics.)
IMPOETS.
Silver.

Gold.
Coin.

Coin.
Total.

Ports.
Bullion.

American.

Bullion.
American.

Foreign.

Foreign.
Trade
dollars.

Other.

N E W YOKK.

$11,368- $302, 888
J u l y , 1881
711,312
A u g u s t , 1 8 8 1 . . . . . 1, 246, 422
S e p t e m b e r , 1881.. 2, 229, 163 . 187,764
October, 1881 . . , 1,572,041
827, 043
N o v e m b e r , 1881..
29,218
259,121
IDecember, 1 8 8 1 . .
506, 543
199,933
J a n u a r y , 1882
28, 335 •
82,394
; F e b r u a r y , 1882...
19, 222
47,781
30, 286
M a r c h , 1882
30, 523
12, 232
A p r i l , 1882
10, 951
34, 902
M a y , 1882
16,159
44, 293
June, 1882.......
12, 645
Total

5, 764, 025

$144,747
3,148, 465
7, 593, 920
4, 441, 300
746,686
857,031
130, 205
33, 906
23, 435
9, 222
12, 021
12,257

$104,
75,
76,
66,
48,
64,
48,
49,
71,
46,
32,
64,

$347
900
4,000
1,103.
5,816

•

1, 919
4,195
6,125
750
450
7,851

206
334
436.
652
952
482
016
071
997
089
714
361

$86,264
$649,820
89, 500
5, 271, 933
182, 752 10, 274, 035
6,969,304
61,165
1, 3.50, 235
260, 442
1, 757,101
129,112
374,397
83,528 1
225, 462
71, 287
^319,003 . 481,369
383y 798
304, 554
247, 739
151, 493
229,813
88, 406

33, 456

748, 310 1, 827, 506

28, 215, 006

64, 25r
183,406
22, 460
67, 738 ' 205,833
276,533
115,129
1,154,575
126, 345
661,142
191, 486
206, 968
50, 728
126,552
227, 773
19, 579
48, 851
17, 299
312,730
24, 485
180, 668
245 295
76, 329

196,110
10,697
318, 3.59
3, 300
166, 968
5,109
117, 333
600
3, 842 . 180,708
223, 579
2, 371
249,068
545
157, 954
250
121,911
4,185
265, 433
12,378
186, 506
200
"•37 167

651,117
579, 667
553,586
1, 446, 465
2,314,405
1,555,631
918, 492
636, 409
222, 943
776, 348
465, 996
521, 702

43,477. 2, 321. 096

10, 642,761

2, 688, 514 17,153,195

SAN FEANCISCO,

July, 1881........
A u g u s t , 1881
S e p t e m b e r , 1881..
October, 1 8 8 1 . . . . .
N o v e m b e r , 1881..
D e c e m b e r , 1881...
January, 1882....
F e b r u a r v , 1882...
March, 1882......
April, 1882......
May, 1882-.....:.
June, 1882........

6, 913
189,735
235, .548:
107,938
931, 030 " " " 5 , ' 8 4 0 "
• 848, 935
475,571 " ' " ' i,'482
395, 313
15, 870
795
. 123, ('85
5, 663
. 22,754
•168,508
66,343
7, 794
49, 442
13,469

.
•

Total........

3,597,111

• 74,917' 2,717,916 1,888,244- . . . . - • •..-•

ALL OTHER PORTS.

1,511
July, 1881........
2. 521
August, 1881.....
.125
S e p t e m b e r , 1881..
October, 1881
4, 523
N o v e m b e r , 1881..
December, 1881.. .""6,'390
1, 652
J a n u a r v , 1882 . . .
4,131
F e b r u a r y , 1882...
. 526
M a r c h , 1882
4, 805
A p r i l , 1882
4,100
M a y , 1882.
-..
14, 633
June, 1882........
,

Total........

44,917

T o t a l i m p o r t s 9, 406, 053




' 247
29,187
9, 727
50,741
447, 400 •
26,593
215,500
21,680
4, 489
16,178
7, 076
13,005
248,078
25,225
59,666
• 54, 287
705,700 • ' 1,100
•
320, 595
7, 689
14,626
24,196
695
33,379 J
2, 033,199 ,

120, 367
158, 355
566,747
312, 632
49, 714
166, 935
375, 491
237, 600
756, 008
446,059
102, 407
322, 308

9, 344
14,307
14,100
32,050
5,235
29,602
9,917
2,608
7, 706
3, 62f)
3, 007
17, 588

55,934
57, 473
76, 369
.33, 210
22, 405
85,122
79.819
115,308
30, 287
59, 784
48, 681
219, 732

200, 033

303,260

. 24,144
23, 586
2,160
5,669
1, 407
25,740
10, 800
2, 200
10, 689
49, 560
7, 797
36, 281

149,090

884,124

3, 614, 623

940, 877 5, 032, 726

42, 472, 390

4, 796, 630 20,174, 371 2,121,733

J

DIRECTOR OF T H E

249

MINT.

X X I Y . - ^ S T A T E M E N T of IMPOBTS and EXPOBTS, #c.—Continued.
EXPORTS (DOMESTIC).

Siiver.

Gold.

Coin.

Ports.
. Bullion.

Coin.

Total.

Bullion.
Trade
dollars.

Other.

N E W YORK.

J u l y 1881
A u s u s t , 1881
S e p t e m b e r , 1881
October; 1881
N o v e m b e r , 1881
D e c e m b e r , 1881
J a n u a r y , 1882
F e b r u a r y , 1882
M a r c h , 1882
A p r i l , 1882
M a y , 1882
J u u e , 1882
Total

$901,600
667, 000
648, 600
832, 800
859,400
885, 200
1, 088, 237
695, 000
803, 700
.598, 600
630, 889
572, 300.

$27, 900
3,000
8, 6.50
1,860
3,000
146, 000
1,920

1, 456, 925

$32, 617
85, 590
50, 216
39, 970
20,133
29,104
8,500
6, 695, 498
3, 070, 900
1,125, 500
12, 911, 200
3, 249, 794

140, 000
3, 502

$934, 217
752, 590
736,716
938, 770
888,183
916,164
1, 099, 737
7, 563, 998
3, 876, 520
1, 724,100
13, 682, 089
5, 282, 521

1, 557, 425

27,319,022

9,183, 326

335, 832

38, 395, 605

J u l y 1881
A u g u s t 1881 . .
S e p t e m b e r , 1881
October, 1881
NoA^ember, 1881
D e c e m b e r , 1^81
J a n u a r y , 1882
F e b r u a r y 1882
M a r c h 1882
A p r i l , 1882
M a v , 1882
J u n e , 1882

1,904
3, 551
13,100
3, 540
7,980
4,125
100
50
250
3,460

339, 827
49, 484

23,100
1,500

50,989
56, 987

3,400
2, 945
2,150
100

600

50, 010
28, 360
32, 596
56, 631
67, 783
69, 370
77, 710
1,745
28,135
41, 297
48, 444
49, 843

1,000

414, 841
82, 895
45, 696
114,560
135, 695
• 75, 645
613,638
4.58, 664
156, 020
292, 359
497, 965
197, 537

Total

38, 660

551, 924

2, 458, 601

36, 330

3, 085, 515

9,100
19, 015
16,704

4,146

416

1,462
3,115
4,900

14, 708
22, 546
21, 604
660
2,978
900
26, 553
5,280
5, 720
827, 027
302, 850
768, 325

$10, 000
63, 000

27, 500

SAN FRANCISCO.

535,
456,
125,
247,
449,
146,

728
869
500
602
521
094

2,135

A L L OTHER P O R T S .

J u l y , 1881
A u o ' u s t 1881
wSeptemt)er 1881
O c i o b e r 1881
N o v e m b e r , 1881
D e c e m b e r , 1881
J a n u a i " V 1882
F e b r u a r y 1882
M a r c h 1882
A p r i l , 1882
M a y 1882
J u n e 1882

4,524

$3, 600
1,011

255
1,080

820, 000
300, 000
765, 000
1, 934, 343

11, 620

1, 598, 336

29, 805, 289

900
18, 429
4, 269
5,465
5,947
2, 850

3, 325

2,251

Total
T o t a l do.mestic e x p o r t s .

660
2,478

500




11, 653, 547 1

3, 600 1
3, 600

47, 337

1, 999,151

419, 499

43, 480, 271

250

REPORT
XXIY.-STATEMENT

ON T H E

FINANCES.

of IMPOBTS and EXPOBTS,

#c.—Continued.

EXPORTS (FOIIEIGN).

^
Silver.

Gold.

Total.

Ports.
Bullion.

Coin.

Bullion.

Coin.

N E W YORK.

J u l v ' 1881
A u g u s t 1881 .
S e p t e r a b e r 1881
O c t o b e r 1881
N o v e m b e r 1881
December,' 1881
J a n u a r y 1882
F e b r u a r y 1882
M a r c h , 1882
A p r i l 1882
M a y 1882
J u n e , 1882

. ..

Total .

2,100

SAN

19,"44i'
78, 793

2, 507, 994

3 761,188

121, 610
138, 966
154,011
278,906
150, 305
173, 318
370,144
69,417
251, 884
92. 964
230, 863
114, 518

• 123.510
138, 966
154, Oil
278, 906
150, 305
173,318
371,798
69, 417
251,884
99, 264
230, 863
114, 518

2,146, 906

2,156, 760

1,700

8,762
1,400

121
7,277

$2,100

$111,2.50
215,149
236, 776
232 492
118,146
188, 596
170, 704
686,163
465, 678
458, 983
348, 276
528, 975

8,762
1,400

.

$94, 420
173, 433
211,226
197,050
117, 418
157, 069
160, 973
171. 563
332, 710
114,171
318, 516
459, 44.5

1,700

-

$16, 830
41,716
25, 550
13,800
728
5,485
9,731
504, 500
129,300
344,812
29, 760
50, 089

121
7, 277

$21, 642
26, 042
8,000
3, 668

1,172, 301

FRANCISCO.

Jirly, 1881
A u g u s t 1881
S e p t e m b e r 1881
October, 1881
N o v e m ber, 18dl
D e c e m b e r , 1881
J a n u a r y 1882
F e b r u a r y 1882
M a r c h , 1882
A p r i l , 1882
M a y 1882
J u n e , 1882

1,900
.

...

. . . .

...

1,654
6,300

.

. . .

Total

9,854
ALL O T H E R

J u l y , 1881
A u g u s t 1881
S e p t e m b e r 1881
October, 1881
N o v e m b e r 1881
D e c e m b e r , 1881
J a u u a r y , 1882
F e b r u a r y 1882
M a r c h 1882
A p r i l , 1882
M a y , 1882
J u n e , 1882

FORTS.

'.

'
...

19, 260

Total.
T o t a l foreign e x p o r t s

2,100

1,182,155

78, 793 •

19, 260

4, 674,160

5, 937, 208

X X Y . — U S E of the PBECIOUS METALS in the ABTS and MANUFACTUBES.
O F F I C E O F S U P E R I N T E N D E N T OF U N I T E D STATES ASSAY O F F I C E ,

New York City, July 25, 1882.
S I R : Deposits of gold and silver bullion for bars, vvhich have probably been used
in the arts and inanufactures during the iiscal year from July 1, 1881, to June 30,
1882, appears as follows, viz :
Gold.
Of
Of
Of
Of
Of

U n i t e d S t a t e s coin
foreign coiu
forei o-n b u l l i o n
p l a t e , &c . d o m e s t i c b u l l i o n '.

.

Total

..

.

•

Very respectfully,
R.

E.

PRESTON,

Esq.,

Acting Director Mint, Washington, D. C.



.

..

..

$45,511
532,154
843,281
690, 063
5, 206, 075

Silver.
06
28
26
81
85

7, 317, 086 26

$15, 867
154 5">2
192, 226
191,719
5,444,111

73
07
35
33
16

5,998,446 64

P I E R R E C. VAN WYCK,
Superintendent.

DIRECTOR OF T H E

251

MINT.

X X Y l . — A V E R A G E and COMPABATIVE PBICES of the PBINCIPAL DOMESTIC
COMMODITIES EXPOBTED from the VNITED STATES from DECLABED
VALUES at TIME of EXPOBT.

A v e r a g e p r i c e duri n g m o n t h of J u u e —
Commodities.

1881.

1881.
Acids
Hogs
Horned cattle
Horses
Mules
Sheep
Ashes, pot and peail
Beer:
I n bottles
I n casks
Boues and bone-dust
B o n e - b l a c k , lauixD-black
Bailey
Bread and biscuit
l u d i a n corn
Indian-corn meal
Oats

*
.

g.ye
J i y e flour
AVheat
Wheat
flour
:
Bricks
Candles
Coal:
Anthracite
Bituminous
Copper, pigs and bars . . . . .
C o r d a g e , rope, t w i n e
Cotton:
Sea-island
l...
Other-1
Colored
Uncolored.
Apples, dried
Ginseng
Glue
Hay
H e m p cables, c o r d a g e
Hops
Ice
I n d i a - r u b b e r b o o t s , &c
Iron:
Pig
Bar
Boiler-plate
Bailroad bars
Sheet, b a u d , &c
Car-wheels
Nails and spikes
Steel i n g o t s
L e a t h e r , sole a n d u p p e r . . .
B o o t s a n d shoes
L i m e aud cement
Rosin and t u r p e n t i n e
T a r and pitch
Oil-cake
M i n e r a l oil, c r u d e
N a p h t h a s , benzine, &c
I l l u m i n a t i n g oil
L u b r i c a t i n g oil'.
L a r d oil
N e a t ' s - f o o t oil
S p e r m oil
"Whale oil
C o t t o n - s e e d oil
L i n s e e d oil
Gunpowder
Bacon and h a m s
F r e s h beef
Saltedbeef
Butter
Cheese

..pound.
...piece.
do...
....do...
....do...
..-.do...
..pound.

$0
11
71
165
76
4

04. 2
95. 3
19.6
89. 2
69. 2
51.. 6
06.3

A v e r a g e p r i c e during year ended
J u u e 30—

$0
13
45
360
70
4

02. 5
17. 3
16. 9
17. 0
25. 0
32.6
05.7

$0
7
77
111
110
4

P e r c e n t a g e of t h e
p r i c e s of y e a r 1882
to x>r^^<^s of t>ho
years—

1882.

$0 02.7
03. 0
14 0 L 3
38.6
72 1.4. 9
02. 2
07. 5- 209 15. 6
35. 9 121 62. 9
4 32. 2
23.8
06.1
8.0

50.8
88.7
46.1
249.8
86.1
. 77.6
84.6

90.0
189.7
93.6
188.3
110. 2
101.9
76.2

..dozen.
.. gallon.
cwt.
. .pound,
.bushel.
. .pound,
-bushel.
-.barr(4.
.bushel.
....do...
.-barrel,
.bushel
..barrel.
M.
..pound.

1 38. 0
35.7
2 50.0
23.2
56.1
4.3
56.7
2 90. 5
47.2
1 11.5
5 93.8
1 17.2
5 75.4
7 76.0
1L2

1 84.4
44.7
1 94.5
1.6
82.9
5.5
81.4
3 98.7
67.4
87.3
4 44. 2
1 24.4
6 18.9
10 12.1
12.3

1 77.9
27.4
2 68.7
3.2
62.0
4.6
55.2
2 92.0
43.9
97.7
5 40.8
1 11.3
5 66.9
8 32.0
11.8

1 86.1
39.3
1 90.5
3.2
73.6
5.0
66.8
3 44.0
47.6
97.1
5 77.8
1 18. 5
6 14.8
9 42.3
12.3

64.1
109. 9
115.6
68.0
134.0
87.6
72.2
68.6
75.5
85.6
104. 6
9L8
100.4
84.7
74.9

104.6
143.4
70.8
100.0
118.7
108.6
121. 0
117.8
108.4
99.3
106.8
106.4
108.4
11.3.2
104. 2

ton,
..--do..
..pound
do..

4 57. 4
2 99.0
16.3
11.4

4 46.2
3 20.4
17.8
12.4

4 52.6
3 87.1
16.1

4 67.7
3 50.8
16.9
U.3

70.4
74 3
97.0
54.9

103.3
90.6
104.9
98.2

.pound.
...do...
---yard.
...do...
.pound.
...do...
..-do...
ton.
cwt.
-pouiid.
ton.
— -pair.

24.6
10.9
7.0
7.9
6.1
62. 3
14.3
54. 3
91. 3
19.1
00.1
46. 6

30.4
12.0
8.3
8.1
7.5
94.8
17.8
92. 6
97. 3
27.0
71.5
00.6

29.6
.11.2
7.3

28.8
11.4
7.9
8.1
7.9
83.9
16.8
99.1
31.9
24.8
76.0
38.8

54.5
48.4
46.4

97.2
101. 7
108.2

138.7
193.3
67.2
103. I
87.1
162.0
67.7
42.6

1.46. 2
110.7
105.0
97.5
119.4
110. 7
92.6
98.6

81.2
81 0
80.3
69.4
77.6

92.8
108.1
115. 6
113.6
91.3

57.8
78.0
73.4
82.6
75.5
91.9
84.4
0128. 0
36.2
85. 5
29.7

97.0
• 86.1
92.8
99.4
102.8
113. 4
109.3
200.0
98.6

.pound
..-do..do
.do
...do...
..piece,
.pound.
...do...
...do...
... pair.
..barrel.
...do...
...do...
.pound.
..gallon
...do-..
..-do...
..do..
..do..
..do..
..do-,
.-do-.
. .HIO
do..pound
...do
.do-,
.do-,
.clo..
.do..




1
18
12
3
1

10

1
1
2
2

L5
3.7
5.2
3.7
3.7
93. 2
3.3
11.4
20.2
25.4
52.0
81.1
51.2
L5
7.4
9.2
9.0
21.7
77.8
83.5
86.6
42.5
30.5
67.4
16.7
9.0
9.6
7.6
17.2
10.1

1
18
13
2
2

10

1
1
2
2

1

1.5
3.3
2.2
1.9
3.8
70. 2
5.5
9.2
21.7
19.2
36.5
74.8
61.7
L4
7.2
8.0
8.5
21.7
94.4
47.2
11.8
44.5
53.7
72.3
16.3
13.1
11.0
9.1
18.8
10.8

n.5

5.4
1 66.0
16.0
18 44. 3
11 14. 7
22.4
2 97.8
1 40.7

1
17
13
2
1

1.4
3.7
3.2
2.2
4.6
9

1
1
2
2

3.4
10.8
22.5
26.3
45. 2
47.0
34.1
1.4
7.6
9.8
10.3
21.7
66.7
77.8
96.4
38.2
45.^9
67.1
16.2
8.1
9.3
6.5
19.8
ILO

1
1
2
2

1

L3
4.0
3.7
2.5
4.2
59.4
3.3
9.3
20.9
25. 6
49. 4
80. 3
55.9
2.8
7.5
8.9
9 1
22.9
85.7
85.0
02. 0
38.8
46.2
68.4
17.8
IL 5
9.7
8.5
19.3
10.9

"62.2
65.5
64.1
52.8
64.6
123.5
73.0
134.6
193. 0
65.7
7L0

105. 5
128.4
109.2
105.8
101. 5
100.6
101. 9
109. 8
14L9
104.3
130.7
97.4
99.0

252

REPORT ON T H E FINANCES.

X X Y l . — A V E B A G E and COMPABATIVE P B I C E S ofthe P B I N C I P A L DOMESTIC
COMMODITIES, cjc—Continued.

A v e r a g e price duri n g m o n t h of J u n e Commodities.

A v e r a g e p r i c e during vear ended
J u n e 30—

1882.

P e r c e n t a g e of t h e
p r i c e s of y e a r 1882
t o p r i c e s of t h e
years—
1870.

1881.
dozen.

$0 17. 3

$0 17.1

$0 19. 2

4 21.5
5 58.1
10.9
8.1
8.1
1 02.9
79.5
38.5
2.0
6.1
1 30.7
1.0
5.0
19.6

4 07.8
6 78. 2
11.8
12.1
9.8
1 62.8
1 29.1
38.7
2.5
7.1
44.5
L6
5.0
18.1

3 .95. 2
5 08. 1
9.3
7.8
7.6
1 29.6
72.0
41.4
2.0
6.6
33.1
L3
4.8
34.1

3 60.6
6 39.5
11.5
9.5
8.9
] 14.7
1 08.2
38.6
L2
7.0
43.4
9
5.0
18.3

65.3
68.4
156.6
94.9
13.4
118.5
108.1
62.4
55.5

91.2
125.8
123.6
12L7
117.1
88.5'
150. 2
93. 2
60.0
106.0
131.1
6.9
104.1
53.6

gallon.
do...
do - . .
pound.

2L4
34.9
37.74.6

20.0
23.5
43.4
5.0

20.6
35.4
35.0
4.6

20.6
34.0
46.6
4.7

100.1
45.4
11L4
57.1

100.0
96.0
133.1
102.1

pound.
do...
gallon.
pound.
do...
gallon.
pound.
M feet.
c u b i c feet.
ponnd.
pound.

10.1
8.9
2L2
6.3
8.9
2 22.7
27.4
18 34. 8
15.8

8.6
9.6
24.7
8.6
8.9
1 92.7
3.3.5
16 08. 3
14.7
30.0
8.4

8.1
9.2
24.7
7.0
8.2
1 79.5
24.5
16 19. 7
14.5
26.8

8.0
9.7
24.8
7.9
8.5
1 84.3
26.0
16 90. 2
14.4
32.1

7L3
77.5
82.6
78.1
75.1
116.0
65.5
8L9
84.2
89.2
86.3

98.7
105. 4
100.4
112.8
103.6
102. 6
106.1
104.9
99.3
119. 7
93.2

84.1

1

$0 17. 3

cwt.
barrel.
pound.
do...
d o . -.
bushel.
do...
pouud.
do...
do . .
bushelpouud.
do...
do . .

Eggs
Fish:
Dried
Pickled
Lard
M u t t o n , fresh
Pork
Onions
."
Potatoes
Quicksilver
Kags
B-ice
Salt
Cotton seed
Soap
Spermaceti
Spirits:
Grain
Molasses
S p i r i t s of t u r p e n t i n e
Starch
Sugar:
Brown
Refined
Molasses
Tallow
T o b a cco, leaf
Varnish
Wax, bees
Boards, planks
Timber, sawed
Wool, raw
Zinc plates, b a r s

1882.

106.9

Average.

112.2
69.4
77.9
69.5

X X Y M . — P B I C E S o f P R I N C I P A L COMMODITIES in the N E W YORK MARKET
for the CALENDAR YEAB 1881, CO MPABED ivith the AVEBAGE P B I C E S for
F I F T Y - S I X P B E C E D I N G YEABS, and with AVEBAGE P B I C E S for 1880.

A v e r a g e prices in N e w T o r k .

P e r c e n t a g e of p r i c e s
of 1881 t o a v e r age prices.

CO

00

Articles.

©
®

o
PR

Flour:
Superfine
AVestern
Bye
Corn meal
Wheat:
Northern
Western
Rye
Oats
Corn
Barley
Candles, sperm

flour




ba.rrel.
do...
do...
do...
bushel.
do...
do...
do...
do
do..
pound

$5
5
3
3

44. 8
72. 5
99.9
40.0

1 34.9
1 28.2
79.4
43.7
70.0
92.9
32.6

$4
4
3
2

13.
66.
61.
80.

5
3
6
4

1 25. 3
1 21. 3
93.4
43. 8
54.7
75.8

43. 9
02. 0
52. 4
07.4

8L4
87.6
88.1
90.4

107 3
107.6
97.4
109.6

1 30.7
1 27.1
1 02.4
48.4
62.5
97.5
20.3

96.8
99.1
128.9
110.7
89.3
104.9
62.2

104.3
104.7
109.6
110.5
114. 2
128. 6

$4
5
3
3

DIRECTOR OF THE MINT.

253

XXYM.—PBICES of PBINCIPAL COMMODITIES, cfc—Continued.
A v e r a g e prices in N e w York.

P e r c e n t a g e of p r i c e s
of 1881 to average prices.

Articles.

Coal:
Anthracite
Liverpool
Coffee:
Rio
Java
Copper:
Pig
Bolts
Sheathing
Cotton, u p l a n d
Fish:
Cod
Mackerel
Flax
Fruit:
Almonds
Raisins
Figs
Prunes
Furs, beaver
Gla,ss
Gunpowder:
Rifle
English
Blasting
Hemp :
Di'essed
Undressed
Russia
Hides:
South American
Mexican
Hops
1 ndigo
Iron :
SCotcli
Euglish bar
Sheet
Russia
Lead, pig
lieather
Liquors:
Brandy
Whisky
Molasses:
N e w Orleans
Sugar-house
West Indies
Nails:
Cut
Wrought
Naval stores:
Turpentine
Rosiu
Oil:
Whale
Sperm
Olive
Linseed
Paint:
Red lead
AVhite lead
Petroleum:
Crude
Refined
Pork:
Mess
Prime

66.3
122.5

103.1

12.2
15.3

12.8
21.6

11.6
17.3

95.0
113.0

90.6
80.0

19.0
29.2
25.9
14.6

30.0
28.0
12.1

18.3
27.0
25.0.
11.5

96.3
92.4
96.5
78.7

90.0
89.2
95.0

3 71. 5
12 26. 6
13.7

5 99.6
17 20. 0

5 44.9
18 99. 0

146.6
154.8

90.8
110.4

15.0
2 32. 7
8.7
12.8
3 24.8
8 07. 3

16.7
2 75.0
16.2
6.0
3 16.8

111.3
118.1
186.2
46.8
97.5

25 p o u n d s .
do...
do...

4 37 4
10 97. 8
3 16.6

.6 00. 0

6 21.9

142. 2
120.3

120. 9

ton.
do...
do...

205 48. 8
138 19. 2
212 92. 2

261 00. 0
3 68 00.0
179 32. 8

220 00. 0
140 00.0
184 62. 0

107.0
101. 3
86.7

84.2
83. 3
102.9

l)ound.
do...
.do...
do...




.$4 21. 6
11 00. 0

pound.
box.
pound.
do...
do...
'......

«

$4 08. 9

cwt.
banel.
pound.

.•

$6 35. 6
8 98.0

pound.
...do...
do...
do...

".

ton.
.chaldron.
.pound.
do...

-

17.2
15.4
17.9
88.1

21.1
19.6
19.7
75.0

24.0
19.1
20.1
75.0

139. 5
124.0
112. 3
85.1

113.2
97.4
102. 0
100.0

ton.
do...
pound.
do...
cwt.
pouud,

34 61. 3
68 14. 3
6.9
12.6
5 32. 3
20.3

24 48. 9

24 44. 5

70.6

S9.8

4 23.3
2L2

4.1
14.0
4 85.8
23.4

57.9
llLl
91. 2
115. 2

114.7
110.3

gallon.
do..,

2 92.8
27.1

13 02. 0

gallon
do..
do..

40.3
30.1
26. 2

37 0

47.6
21.9
43.6

118.1
72.7
166.4

128.6

pouud
do -..

4.3
9.2

3.1
4.5

3.7
4.9

86.0
53.2

119.3
108.9

gallon
barrel.

49.0
2 98.3

30.8
1 39.7

47.0
2 06.7

95.9
69.2

152. 6
147.9

gallon.
do...
do-..
do..

42.0
1 17.6
1 05.9
79.3

83.8
1 06.6
66.1

.51.5
90.5
97.9
58.8

122.6
76.9
92.4
74.1

107.9
91.8
88.9

cwt
do-.

7 36.3
9 54.9

7 90.0
7 40.0

6 29. 0
7 21.0

8.5.4
75. 5

79.6
97.5

gallon
do..

12.0
22.1

4.7
8.0

7.1
8.3

59.1
37.5

151. 0
103.7

barrel
do...

14 87. 0
11 41.0

116.-3
138.3

170.5

17 29. 9 '
15 78. 3

254

REPORT

ON T H E

FINANCES.

X X Y M . — P B I C E S of P B I N C I P A L COMMODITIES,

^-c—Continued.

A v e r a g e p r i c e s in N e w T o r k .

Articles.

P e r c e n t a g e of p r i c e s
of 1881 to a v e r a g e prices'.

>~:CO

x3

Beef:
Mess
Prime
-.
Hams
Shoulders
Lard
Butter
Cheese
Rice
Salt:
Liverpool
T u r k ' s I s l a n d s . -•
Seefls:
Clover
Timothy
Soap :
Brown
Castile
Spices :
Pepper
Nutmeg
Spirits:
Jamaica
Gin
Sugar:
N e w Orleans
Cuba
Loaf
Tallow:
American
Foreign
Tea:
Toung Hyson
O u l o u g .'.
Souchong
Imperial
Tobacco:
Kentucky...
•.
Manufactured
Havana
AVhalebone
Wine:
Port
Madeira
• Claret
Wool:
Comraon
Merino
Pulled

:

$11 82. 2
14 26. 9
11.6
7.5
12.0
23.2

122.3
224. 0.
122.1
102. 7
131.8
132.5
139. 0
134. 5

barrel.
do..
pound.
do-..
do - . .
do - .
do..
cwt

$9 66. 4
6 37. 0
9.5
7.3
9.1
17.5
8.2
4 60.7

$11 19. 9

sack
-bushel

1 45. 7
33.6

69.0
30.5

75.0
22.0

5L4
65.4

pound.
busliel.

9.2
2 85.1

7.1
1 78.9

8.7
2 87.5

94.5
100.8

pound.
do-..

5.5
10.9

pound.
do...

10.1
1 05. 2

15.9
84.0

157.4
79.8

gallon.
....do-..

1 42.3
1 15 3

pound.
do-..
do - -.

6.4
7.4
1L7

7.0
8.6

6.7
7.7
10. b

lo4. 6
104.0
85.4

pound.
do...

8.3
8.0

6.3

7.0

pound.
do-..
do...
do...

56.7
53.6
43 0
70.0

23.4
29.8
32.6

26.6
26.0
27.5
32.0

46.9
48.5
63.9
45.7

pound.
do...
do...
do...

7.9
17.1
75.3
39.9

7.7

8.2
19.5
9L9

103.8
114.0
122. 0

gallon.
do...
cask.

1 63. 5
2 21.4
27 35. 3

1 37. 5
5 25.0

84.1
237.1

ponnd.
do...
do...

29.5
44.5
35.0

45.4
29.0
36.4

153.9
6o.l
104.0

8.4
4.9
6.5
23.0
7.6
6 59.0

*92."2

25.4
41.4
34.9

n.4

6 20.0

102.7

NOTE.—Table XXVIII (^'Monetary Statistics of Foreign Countries") is omitted
for want of space, but it can be found in the bound volumes o f t h e Director's report.




X X I X . — WOBLD'S PBODUCTION of GOLD and SILVEB.
[ C a l e n d a r y e a r s , e x c e p t for I J n i t e d S t a t e s a n d J a p a n . ]
1880.
Countries.
Gold.
Kilos.
58, 531
*42, 960
+43, 282
1,488
||«388
1,598
003

Total

Dollars.
Kilos.
38, 899, 858
981, 825
28, 551, 028
*11,39L
+5,465
28, 765. 000
989,160
605, 469
2.^7, 865 ||al34, 007
1, 062, 031
48,180
1,994
1,502
j4, 436
&432
&109
72, 375
+74, 500
+007
4,918
+1, 719
118
78, 546
10,109
6, 019
4, 000, 000
24, 057
cl09
72,345 c264,677
cl94
128, 869 cl22, 275
1,510
1, 003, 546
702
466, 548
22, 046
||3, 000
1,99.3,800
2,431
1, 61.5, 835
+1, 226815,089
+1,641

Dollars.
40, 812.132
473i 519
227,125
25,167, 763
5, 570, 380
2, 002, 727
62, 435
184, 360
17, 949
3, 096, 220
71, 441
420, 225
1, 000, 000
11, 000, 0 0
5, 081, 747

163,675 108,778,807 2,313,731

TJnited S t a t e s
Russia
;
Australia
Mexico
Germany
Austro-Hungary
Sweden
,
Norway
Italy
Spain
Turkey
Aruentine Republic.
Colombia
Bolivia
Chili,
Brazil..
Japan
A frica
Venezuela
Canada

Silver.

Gold.

Silver.

96,172, 628

916, 400
68, 205

Eilos.
54,168
142, 960
43, 282
tl,488
(i350
1, 647
005

Dollars.
36, 000, 000
28,551,028
28, 765, 000
989,160
232, 610
1, 094, 590
3, 323

&109

72, 375

007
tll8
16, 019
cl09
cl94
1,345
1702
13, 000
3, 423
1,226

4,918
78, 546
4, 000, 000
.72, 345
128, 869
893, 887
466, 548
1, 993, 800
2, 274, 692
815, 089

Gold.

Kilos.
942, 987
t l 1,391
5, 465
1605,469
al34,152
48, 000
1,312
4,436
11432
74. 500
1,719
tlO, 109
t24, 057
c264,677
cl22, 275

Dollars.
39, 200, 000
473, 519
227.125
25,167,763
5, 576, 699
1, 994, 880
54, 527
184, 360
17, 949
3, 096, 220
71, 441
420, 225
1, 000, 000
11,000,000
5, 081, 747

122, 460

916,400

1,641

68, 205

160,152 106,436,786 2, 274. 668

Silver.

Kilos.
Dollars.
34, 700, 000 1, 034, 649
111,391
28, 551, 028
+.5, 465
31,127,515
989, 160 t605, 469
232,610 +134, 1.52
31, 359
1, 240, 808
1,312
3,323
+4, 436
6432
72, 375
+74, 500
4,918
+1,719
78, 546
110, 109
4, 000, 000
124, 057
72, 345
264, 677
128, 869
122, 275
741, 694
466, 548
122, 046
1, 993, 800
2, 274, 692
1, 094, 926
+1,641

Dollars.
43, 000, 000
•
473,519
227, 125
25, 167,763
5, 576, 699
1, 303, 280
54, 527
184, 360
17, 949
3, 096, 220
71, 441
420, 225
1, 000, 00011, 000, 000
5, 081, 747

162,163 107,773,157 2, 349, 689

97, 659, 460

Kilos.
52, 212
142, 960
§46, 836
t l , 488
+350
1,867
+005
6109
+007
1118
16,019
109
194
1,116
1702
13, 000
+3, 423
d l , 648

* Official e s t i r a a t e , " L ' E c o n o m i s t e F r a n 9 a i s , " Jul}'", 1881, p . 112.
t E s t i m a t e d t h e s a m e as 1879.
t E s t i m a t e d t h e s a m e as 1880.
\ P r o d u c t i o n for 1880 w i t h i n c r e a s e d p r o d u c t i o n of V i c t o r i a , N e w S o u t h W a l e s , a n d T a s m a n i a in 1881 a d d e d .
II D r . A . S o e t b e e r .
a F r o r a t o t a l p r o d u c t i o n 17 p e r c e n t , of gold a n d 25 p e r c e n t , of s i l v e r d e d u c t e d for f o r e i g n o r e s .
6 Estiraated.
c E s t i r a a t e d s a m e a s 1881.
d P r o d u c t i o n of B r i t i s h C o l u m b i a o n l y , s h i p p e d t h r o u g h W e l l s , F a r g o & Co., a n d t h e ofiicial r e p o r t of t h e yield of t h e m i n e s of N o v a Scotia.




916, 400

O
H
O

o
^^
H
W

68, 205
t25

XXX.—COINAGE of VABIOUS COUNTBIES.

to
Ox

[Calendar years except for Japan and the IJnited States for 1879 and 1880.1
1880.

1879.

188L

Countries.
Gobi.
TTnited S t a t e s
Mexico
Bolivia

Silver.

Gold.

$39, 080, OSO
658, 206

.
. . .

$27, 568, 235
22,162, 987

$62, 308, 279

170, 571
20, 210, 574
402
11,043,120
1, 001, 592
5, 494, 834

2, 071, 971

20,196, 228
22,151, 334
69, 670
6, 662,153
2, 468, 029

Silver.

Gold.

$27, 409, 706

$96, 850, 890
438, 778

.Silver.
$27, 939, 203
24,139. 023
1, 970, 983

324, 024
780, 000
4, 852, 523

Havti
India
Gerraany

.
.

....

France

.

. .
. . . .

28,122, 004
12, 869, 784

3, 705, 878
19, 699,115

20, 682 625

O

3, 253, 988

9, 028, 671
1, 299, 554
38 055
1, 598, 346

o

11,149, 950

3, 862, 798

490, 585
21, 659

4, 514, 043

136, 387, 383

100,705, 824

40, 002,173
1,634,189
2, 429, 998
418, 231

8,'373,.563
150, 639

Italy
Netherlands
Denmark
Nmway
Sweden
Spain
Portuo"al Japan
Brazil ..

56.5, 355
2, 403, 223
*9, 314,143

3, 860, 000
44, 806
*4, 863, 725

499, 997
259,313

u.

Total




. . .

..

.-

262.451
509, 942
38,318

396, 954
2, 327, 847

90, 7.52, 811

104,888,313

752, 992
33,113,719
348, 765
460, 365
30, 368
149, 645, 236

* Coinage for 1876, 1877, and 1878, to March 31, 1879; no coinage executed since 1879.

40, 200
499
223, 094
268. 955
145,492
2, 076, 955
82, 397,154

.

w
(—1

*^-i

Q

m

XXXI.—CIRCULATION.

Countries.
Tear. Latest census
or e s t i m a t e ,

D a t e for
w h i c h circu. lation is
stated.

IJnited States
1880
50,155,783 Oct. 1,1882
G r e a t B r i t a i n a n d I r e l a n d . 1881
35, 246, 562 July 1,1882
D o m i n i o n of C a n a d a , in- 1881
4, 506, 563 July 31,1882
cluding Manitoba and
Newfoundland.
British India
1881
252, 541, 210 July 31,1882
A u s t r a l i a , T a s m a n i a , a n d 1881
2, 798, 898 July" 31,1882
N e w Zealand.
France
37, 321,186 Sept. 7,1882
1881
Belgium
5,536,654 Aug. 31,1882
1879
Switzerland
2, 846,102 Apr. 30,1882
1880
Italy....
28, 452, 639 M a y 13,1882
1881
Greece
1, 979, 423 Jan. 31,1882
1882
Spain
16, 625, 860 July 31,1882
1877
4, 550, 699 Jan. 1,1879
. P o r t u g a l , i n c l u d i n g A z o r e s 1878
and Madeira.
Germany.
45, 234, 061 Aug. 23,1882
1880
Austria-Hungary
, 1880
35, 839, 428 Aug. 23,1882
Sweden and Norway
6, 479,168 Dec. 31,1880
1880
Danish Kingdorh . . . . . .
1880
2. 096, 400 Dec. 31,1881
1880
Netherlands
4, 061, 580 Aug. 26,1882
1880
Rnssia
98, 323, 000 Aug. 13,1882
1880
24, 987, 000
Turkey...
Roumania\
,
., 1881
5, 376, 000
1880
9, 557, 279 N o v . 18,1879
Mexico
'.
1881
2, 891, 630 J u n e 30,1880
Central America
* Die Bevolkerung der Erde, Gotha, Drs. Behm and
W a g n e r . E x c e p t U n i t e d States, Cuba, J a p a n ,
a n d A l g i e r s , w h i c h a r e oflBcial; a n d H a y t i , w h i c h
was estimated.
t London Banker's Magazine'for A u g u s t .
X L o n d o n E c o n o m i s t , S e p t e m b e r 21,1882.
§ B a s e d on s t a t e m e n t of d i r e c t o r of C a l c u t t a m i n t of
1879, w i t h c o i n a g e for t e n y e a r s a d d e d .
II L o n d o n B a n k e r ' s M a g a z i n e for J u n e .




P e r capita.

Specie.

Population.

Total paper
currency and
. . specie.

Paper.
Gold.

$793, 074, 878
. 1203,692,764
+45,117,162
55, 874, 880
II23, 891, 250

$563, 631, 455
592, 000, 000
9, 026, 000

d
e
g

c874, 876, 000
103, 000, 000
-/20, 000, 000
h l 4 4 , 750, 000
1, 000, 000
j l d O , 000, 000
o48, 000, 000
387,
a32,
21,
10,
29,
MIO,
i:i5,

143, 742
751, 545
072, 000
000, 000
304, 722
209,784
000, 000

4, 020,
4, 327,

Z589,
h5, 000,
hlO, 000, 000
, 500, 000
110, 000, 000
WO, 000, 000
2, 318, 381
373, 919
163,. 347
h
B a n k reserve only.
i
L o n d o n Ecoiiomist, S e p t e m b e r . 1 9 , 1 8 8 2 .
•v
E s t i m a t e d frorn a m o u n t from r e p o r t of 1879. E x j
.ports, I m p o r t s , and Consumption in t h e A r t s .
k
L o n d o n E c o n o m i s t , S e p t e m b e r 9,1882.
I
L o n d o n E c o n o m i s t , A p r i l 8,1882. < :
M . Welti, P r e s i d e n t Swiss Confederation.
"Gold
a n d S i l v e r , " p a g e 193.
L o n d o n E c o n o m i s t , A u g u s t 12,1882.

, 566, 659. 668
888, 292, 764
55,163,162

$15 81
5 77
10 01

$15 42
19 14
2 23

1, 070, 874, 880
78,105, 373

22
8 53

' 4 02
19 37

1, 478, 062, 000
162, 326, 000
34, 700, 000
214, 750, 000
a l , 800, 000
200, 000, 000
60,000,000

1, 990,191,
226, 855,
51, 323,
508, 522,
20,125,
262, 573,
65, 023,

39
29
12
7

607, 792, 577
4 67
818,915,041
85, 650, 400
384, 741, 535
8 34
25, 092, 000
5 31
59, 489, 563
9 62
14, 327, 000
34, 485, 767
19 23
85. 793, 273
163, 900, 869
119, 209, 784
6 23
732,125,993
15,589, 828
15, 589, 828
15, 000, 000
15, 000, 000
50, 000, 000
51,500,000
2, 692, 300
2, 855, 647
P a r i s B o u r s e , S e p t e m b e r 19,1882.
L o n d o n E c o n o m i s t , J u l y 18,1882.
SUver Commission, p a g e 510, a n d p a g e 475.
L o n d o n E c o n o m i s t , S e p t e m b e r 10,1881.
Estimated.

13
2
3
16
21
1

101, 648, 835

56,488, 551

$773, 584, 790
684, 600, 000
10, 046, 000

72
65
84
33
26
75
10

57, 900, 000
c545, 286, 000
53, 000, 000
6, 326, 000
/IO, 000, 000
/4, 700, 000
M O , 000, 000 hSO, 000, 000
800, 000
^40, 000, 000 j30, 000, 000
j l 2 , 000, 000
119, 000, 000
d52, 898, 855

Total.

1, 015, 000, 000
54, 214,123

$80, "428, 580
92, 600, 000
1,020,000

§1, 015, 000, 000

+211, 122,464
+299, 091,135
34, 397, 563
20, 158, 767
t78, 107, 596
+612, 916, 209

/

$129, 524, 755

Silver, limited t e n d e r .

«54, 214,123

6512,129, 625
d U , 529, 719
el6, 623, 964
(7293, 772, 885
i l 8 , 325, 356
g62, 573, 457
5, 023, 360

a
6
c

Silyer, full legal tender.

625
719
964
885
356
457
360

13
11
5
10
9
3
1

60
31
19
54
91
12 03
13 18
43
39
87
45
12
21
63
2 79
5 23
93

O

H
O

w
o
w

t>0
Cn
GO

XXXI.—CIBCULATION—Continned.
Specie.

Population.
Countries.
Tear. Latest census
or e s t i m a t e .

Argentine Republic.
Colombia
Brazil
,
Peru
Venezuela
Chili
Bolivia
Cuba
Hayti
Japan
Algiers
C a p e of Good H o p e . . .

1880
1881
1880
1876
1881
1876
1876
1877
1877
1874
1877
1880

2, 540, 000
3, 000, 000
11,108, 291
3, 050, 000
2, 675, 245
2, 420, 500
2, 325, 000
1, 394, 516
572, 000
33, 623, 319
2, 867, 626
780, 757

Total.
a London Economist, February 25, 1882.




D a t e for
w h i c h circulation is
stated.

Paper.
Gold.

J u n e 30, 1881
A u g . 18, 1879
S e p t . 30, 1881
M a r . -^, 1879
S e p t . - , 1881
D e c . 31, 1881
D e c . 31, 1881
D e c - 31, 1881

P e r capita.
Total paper
currency and
specie.

$37, 101,
a 188,
13,
26,
1,
c40.

J u n e 30, 1880
J u l y —, 1881
J u n e 30, 1882

147,
11,
d5.

$4, 000, 000
500, 000
62, 085
610,000,000
c27,890,000
4,000,000
99, 852,138
10,071,773
6 30 000, 000

Silver, full legal tender.

Silver, limited t e n d e r .

$2, 000, 000
$4, 000 000
1, 819, 933
61,000,000
2,500,000
5, 400, 000
c l , 000, 000
780, 000
50, 661, 878
6, 234, 975
62,440,726

Total.

$6, 000, 000
4, 500, 000
• ~ 1, 882, 018
11, 000, 000
2, 500, 000
5, 400, 000
28, 890, 000
4, 780, 000
150, 514, 016
16, 306, 748
32,440, 726

101,756 $14 60
395, 343
63
155, 455 16 94
14. 980, 838
4 29
lii 250, 900
09
29, 055, 341 10 97
531, 517
49
6,
69, 714, 884 29 26
4, 780, 000
4 38
297, 802, 69727, 500, 748. 3 90
077,726
7 22

$2 36
. 1 50
62
4 11
1 03
• 2 32
20 71
8 36
•4 48
9 59
41 54

O
H
O
H

3, 825, 220, 078 3, 353 673, 748 2,182, 768, 866 438, 000, 969 5, 974, 443, 583 9, 799, 663, 661
6 Estimated.

c N e w T o r k B a n k e r ' s M a g a z i n e , M a r c h 18,1882.

c2 L o n d o n E c o n o m i s t , A u g u s t 26, 1882.

1—(

o
»2

X X X l l . — T A B L E of GOVEBNMENT and BANK-PAPEB I S S U E and METALLIC BESEBVES.

Metallic reserve.
xitpei.

Date
referred to.

Countries.

Treasury.

>
>

Bank.

Aggregate.

^
TTnited S t a t e s

Government
issue.

•

Great Britain and Ireland.
D o m i n i o n of C a n a d a ,
including Manitoba
and Newfoundland.
British India
Australia, Tasmania,
and N e w Zealand.

B a n k issue.

Gold.

Total.

Silver.

Total.

$793, 074, 878 $138, 375, 902 $64,039,921" $202, 415, 823

Oct. 1,'82, a n d *$430,185, 744.
J u l y 1,1882
J u l y 1,1882

$362, 889,134
1203, 692, 764
+30, 882, 809

45,117,162

"§23,'89i,"256'

^5,5, 874, 880
23, 891, 250

Silver.

Total.

$123, 943, 999

$7, 750, 263

$131, 694, 262

203, 692, 764

14, 234, 353

Gold.

D e c . 31,1880
and
J u l y 31,1882
Dec. 31,1880
D e c . 31,1880

S e p t . 7 1882
A u g . 31,1882
A p r . 1,1882
Switzerland
D e c . 31,1881
Italy
& M a y 13,'82
Jan'. 31,1882
J a n . 31,1882
J a n . 1,1879
A u g . 23,1882
Germany
J u n e 30,1879
Austria-Hungary
& A u g . 23,'82
S w e d e n a n d N o r w a y . . Dec. 31,1880
D e c . 31.1881
Danish Bangdom
Dec. 3 i ; i 8 8 0
&Aug.26,'82
A u g . 13,1882
N o v . —,1879
C e n t r a l A m e r i c a . . . . . . J u n e 30,1880

120, 000

3,146, 000

22, 335, 493

3, 026, 000

400, 000

5,900,000
2, 693,155
54, 214,123

25, 028, 6'J8
54, 214,123

O
H
O'

9, 046, 000

.2, 693,155

22, 335, 493

5, 500, 000

149, 825, 096

O
55, 874, 880
11.512,129, 625
1164,529,719
al6, 623i 964
.6181,420,-666 6112, 352, 885

"37,076,958
128, 860, 965

4, 020, 000

* Includes $71,569,210 in silver certificates,
i London Bankers' Magazine, August, 1882.
+ London Economist, September 2,1882.
§ London Bankers' Magazine, J u n e 8,1882.




$334,110, 085

1149, 825, 096

512,129, 625
64, 529, 719
16, 623, 964
293,772,885

325, 356
573, 457
023, 360
045, 506
230,170

18,325,356
62. 573, 457
5, 023, 360
211,122, 464
299, 091,135

34, 397, 563
20,158. 767
|74, 087, 596

+193, 776, 831 11221,037,113

6166,660,666 646,666,666

34, 397, 563
20,158, 767
78,10?, 596

+612,916,209
el, 500, 000
163, 347

§54, 214,123

612,916,209
1, 500, 000
163, 347

cl8,
dQ2,
5,
+174,
|170,

775, 444

2, 019, 923

.

I London Economist, September 9,1882.
I
a London Economist, April 8,1882.
6 Paris Bourse, September 19,1882.

140, 000, 000

622, 000, 000 613, 000, 000

414,
+18,
al,
35,

813,
998,
528.
000,

944
816
475
000

414,
18,
7,
175,

813,
998,
528,
000,

944
816
475
000

125, 000, 000
9, 680, 387
132, 751, 545 . 152, 898, 855
12, 662, 315
7, 772, 000

2, 553, 572
750, 400

cl, 800, 000
d24, 916, 480
9, 508,169
+134, 680, 387
85, 650, 400

1 800 000
27, 711, 847
9, 508,169
134,680,387
85, 650, 400

15, 215, 887
• 8, 522, 400
+44, 377, 613

15, 215, 887
8, 522,400
44, 377, 613

+123, 774, 021

2, 795, 367

123, 774, 021

c London Economist, July 8,1882.
d London Economist, August 12,1882.
e Estimated.

H
W

iz!

X X X l l . — T A B L E of GOVEBNMENT and B A N K - P A P E B I S S D E and M E T A L L I C BESEBVES—Cont'mxxed.

to

o
'.

Metallic reserve.

Paper.
Date
referred to

Countries.

•

V

•

Treasury.

Bank.
Aggregate.

Government
issue.

Argentine Bepublic...
Colombia
Brazil
Peru
Venezuela
Chili
Bolivia
^
Cuba
C a p e of G o o d H o p e
Japan
Alp-ip.rg

June
Aug.
Sept.
Mar.
Sept.
Dec.
Dec.
Mar.
June
June
July

Total

Bank issue.

30,1881
18,1879
30,1881 a$18S, 155, 455
1,1879
13, 098, 820
—, 1881
31,1881
31,1881
26,1881
30,1882
30,1880
130,127, 596
18,1881

$37,101, 756
1, 895, 343

Gold.

snver.

Total.

Gold.

Silver.

Total.

o

$37,101,756
1,895,343
188,155,455
13, 098, 820
250, 900
250, 900
26,555,341
26, 555, 341
1,131,517
1,131,517
6 40, 824, 884
40, 824, 884
c 5, 637, 000
5,637,000
17,161,085
147, 288, 681
1], 194, 000 • 11,194,000

$10,399,626 $4, i39, 76i
. 35, 77^3
155,475

14, 539, 327
191, 248

1,183, 054, 771 2, 642,165, 307 3, 825, 220, 078

252, 612, 745 132, 810, 513

386, 221, 258

a Loudon Economist, February 25,-1882.




Total.

$200, 000

$266,666

$200, 000

1, 819, 933

1, 882, 018

1, 882, 018

1,600,000
443, 597
24, 000, 000
8, 092, 000
1,355,162
6, 079, 500

2, 398, 000
'
443,597
24, 000, 000
8, 092, 000
15 894 489
6, 270, 748

614, 783, 886 315,652,949 1, 312, 765, 505

1, 698, 986, 763

$62, 085
$798, 000

443, 597

6 New Tork Bankers' Magazine, March, 1882.

6 24, 000, 000
c8, 092, 000
955,988
4, 053, 000

399,174
2,026,500

c London Economist, August 26,1882.

o
H

O
CC

DIRECTOR OF T H E

261

MINT.

X X X l l l . — T A B L E showinq the TOTAL P A P E B and S P E C I E CIBCULATION in
E A C H of the P B I N C I P A L COUNTBIES of the WOBLD, the AMOUNT of S P E C I E
in B A N E and NATIONAL TBEASUBIES, and the AMOUNT of ACTIVE CIBCULATION.

Countries.

Population.

TJnited S t a t e s
Great Britain and Ireland..
D o m i n i o n qf C a n a d a , includ' ing Manitoba and Newfoundland
British India
Australia, Tasmania, and
N e w Zealand'..-.
France
Belgium
:..
Switzerland
Italy
Greece
Spain
Portugal
Germany
.".
..
Austria-Hungary
1..
Sweden and N o r w a y —
Danish Kingdom
Netherlands
Biissia
I.. 4
Mexico
Central America . . . :
Argentine Kepublic
Colombia
,
Brazil
P e r u .'.....
,..
Venezuela
Chili
Bolivia
Cuba
C a p e of Good H o p e
Japan
•.
Algiers
,
Turkey.Boumania
Hayti




A m o u n t of
T o t a l metallic
s p e c i e i n b a n k s A c t i v e circuand paper
and national
lation.
circulation.
treasuries.

50,155, 783
35, 246, 562

$1, 566, 659, 668
888, 292, 764

$334,110, 085^
149, 825, 096

4, 506, 563
252, 541, 210

V 55,163,162
1; 070, 874, 880

•

2, 798, 898
37, 321,186
; 5,536,654
2, 846,102
28,452,639
1, 979; 423
16, 625, 860
4, 550, 699
45, 234, 061
35, 839,428
6,479,168
. 2, 096, 400
4, 061, 580
98, 323, 000
9, 557, 279
2, 891, 600
2, 540, 000
3, 000, 000
11,108, 291
3, 050, 000
2, 675, ?45
2, 420, 500
2, 325, 000
1, 394, 516
780, 757
33, 623, 319
2, 867, 626
24, 987, 000
5, 376, 000
572, 000

78, 105, 373
1, 990, 191, 625
226, 855, 719
51, 323, 964
508, 522, 885
20, 125. 356
262, 573, 457
65, 023, 360
818, 915, 041
384, 741, 535
59, 489, 563
34, 485, 767
163, 900, 869
732, 125, 993
51, 500, 000
2, 855, 647
43. 101, 756
6, 395, 343
188, 155, 455
14, 980, 838
250, 900
11, .055, 341
29, 531, 517
714,884
38, 077, 726
297, 802, 697
27, 500, 748
15, 589, 828
15, 000, 000
4, 780, 000
9,799,663,661

ce o a .

, 232, 549, 583
738, 467, 668

24.57
20. 95

9,046,000
25, 028, 648

'46,117,162
1, 045, 846, 232

10.66
4.14

54, 214,123
414,813,944
18, 998, 816
7, 528, 475
175, 000, 000
1, 800, 000.
27, 711, 847
9, 508,169
134, 680, 387
85, 650, 400
15, 215, 887
8,522,400
44, 377, 613
123, 7-74, 021

23, 891, 250
1, 575, 377, 681
207, 856, 903
43, 795,489
333, 522, 885
18, 325; 356
234, 861, 610
55, 515,191
^684, 234, 654
299, 091,135
44, 273, 676
25, 963, 367
119, 523,256
608, 351, 972
51, 500, 000
2, 855, 647
43, 101, 756
6, 195, 343
.188, 155, 455
13, 098, 820
250, 900
11, 657, 341
26, 087, 920
° 6, 714, 884
45, 985, 726
29, 908, 208
281, 230, 000
21, 589, 828
15, 000, 000
•
15, 780, 000
4,

8.53
42.21
37.54
15.38
11.72
9.24
14.13
11. 99
15.13
8.35
6.8812.38
29.43
6.18
5.39
0 98
16.96
. 2.06
16.94
4.29
4.20

200, 000
"i," 882,'618"
2, 398, 000
443, 597
24,000,000
8, 092, 000
15, 894, 489
6,270,748

1,698,986,763

8,100,676,898

n.n

2.62
33.51
38. 39
: 8.39
7.40.
0.62
2..80
'.-8.53




REPORT OF THE FIRST COMPTROLLER.




263




REPORT
OF

THE FIRST COMPTROLLER OF THE TREASURY.
TREASURT D E P A R T M E N T ,
F I R S T COMPTROLLER'S O F F I C E ,

WasMngton, Octoher 20, 1SS2.
S I R : In compliance with the request made in your letter of September
8,1882,1 have the honor to submit the following report of the, transactions of this office during the fiscal year which ended June 30, 1882.
The following-described warrants were received, examined, countersigned, entered into blotters, and posted into ledgers under their proper
heads of appropriations:
Number
of warrants.

Kind.

Amounts.

APFllOPRIATION.

Treasury proper
Publicdebt
Diplomatic and consular
Customs
Intemal revenue
Interior civil.
Indians and pensions
War
Navy

$28, 067,456
342, 723,506
1,191,435
18,130,303
4,932,849
7, 606,940
79, 071,251
43, 527,670
15, 202,701

05
34
00
91
27
36
94
44
57

440, 454,114 88
•ACCOUNTABLE AND SETTLEMENT.

Treasury p r o p e r . . . :
Public debt
Quarterly salaries
•
Diplomatic and consular
Customs
i
Internal revenue
Judiciary
Interior c i v i l . . . . . . . . . . '
Indians and pensions
War
:
Navy

,
J

:..:.
:..,

:

3,053
" 79
1,929
2,835
4,062
4,523
3,343
2,153
3,399
4,608
2,121

21, 278, 867 36
.342,869,059 98
558, 562 50
1,388,120 11
19, 860, 934 89
4, 857, 313 02
3, 293, 267 38
6, 951, 418 90
73, 364, 489 82
44,908,724 67
21, 514, 323 57
540, 845, 082 20

COVERING.

Indians and pensions repay
:
W a r repay
:
.•
Navy repay
"
Miscellanet us repay: Interior civil, treas.ury, customs, judiciary, diplomatic and consular, internal revenue, and public lands.




627
1,610
364
2, 575

•2,082,548,21
1,348,280 48
5. 856, 254 29
3,185,137 81

5,176

12, 472, 220 79

^t)5

266

iREPORT 01^

T H E FINANCES.

In addition to the above there 'have been received, registered, and
countersigned warrants as follows:
Number
of warrants.

Kinds.

Amounts.

8,930
1,754
1,120
1,558

$152, 809, 508 21
146, 497, 595 45
4, 753,140 37
220,410, 730 25

13, 362.

Miscellaneous revenue covering warrants
Internal revenue covering warrants
Lands covering warrants
Customs covering warrants
,...

524, 470, 974 28

RECAPITULATION.

Pay, repay, and appropriation warrants
Miscellaneous and internal revenue, and lands, and customs covering
Total warrants received and passed
Miscellaneous requisitions registered and countersigned
Requisitions on superintendent of buildings and stationery clerk

."

Grand total

37, 416
13, 362
50,778
739
413
51, 930

Accounts have been received from the auditing offices, revised, recorded, and the balances thereon certified to the Eegister of the Treasury, as follows:
' Kind.

No. of
No. of
accounts. vouchers.

Amount involved.

FROM T H E F I R S T A U D I T O R .

1. Judiciary:
Accounts of marshals for their fees and for expenses of courts,
of district attorneys and their assistants, of clerks of courts,
of circuit court commissioners, and accounts for rent of court
rooms
Judgments by Court of Claims examined and ordered paid
.
Total
2. Fublic Debt :
Accounts of the Treasurer of the TTnited States:
For coupons payable in coin
For coupons of'Treasury, notes, Louisville and Portland Canal
stock, and old funded debt of the District of Columbia
For .registered stock of the District of Columbia redeemed
For'District of Columbia 3.65 bonds purchased for sinking fund.
For Hnited States called bonds redeemed
For United States bonds purchased for sinking fund
For Louisville and Portland Canal stock redeemed
For interest on Hnited States registered bonds (paid on schedules) ..i
For interest on Pacific Bailroad stock (reimbursable)
For checks for interest on funded loans of 1881,1891, and consols
of 1907
For gold certificates and refunding certific'ates
For certificates of deposit (act June 8, 1872).
For legal-tender notes, old deraand notes, and fractional currency
•
.
For compound-interest, seven-thirty, and other old Treasury
notes .' '.
For interest on Navy pension fund
Total
3. Public Duildings:
^
Accounts for the construction of public buildings throughout
the Hnited States, and the buildings for the Bureau of Engraving and Printing and the National Museum, Washington,
D. C.; for the construction of the building for the State, War,
and Navy Departments; for the completion of the Washington Monument, and the care of the public buildings and
grounds under the Chief Engineer, H. S. A . ; for annual
repairs of the Capitol and improving the Capitol grounds,
extension of Government Printing Office, and enlarging the
court-house, Washington, D. C.; for Coast and Geodetic
Surveys; and for the beneficiary and charitable institutions
in the District of Columbia




3,913
34

89,431
34

$3,832,478 62
596, 051 54

3,947

89, 465

4,428,530 16

^ 123 2, 530, 939

15, 055, 606 08

28.
7
1
21
2
1

38, 793
677
45
67,541
1, 553
" 4

538, 993 12
275, 545 53
12, 600 00
114, 711,105.12
8, 346, 713 72
4, 000 00

18 . 11,439
430
12

11, 639,114 84
4, 461, 525 92

3
20
12

143, 572
22,489
1, 512

28, 942, 912 18
987, 211 29
13,630, 000 00

34

1,021

43, 064, 322 00

41
1

618
1

20 294 73
210, 000 00

324 2, 820, 634

241, 899, 945 13

303

21, 984

2, 640,508 67

267

FIEST COMPTROLLEE.

Amount involved.

No. of
No. of
accounts. vouchers.

Kiud.
4. Steamboats:
Accounts for salaries and incidental expenses of inspectors of
hulls and boilers
'.
"

875

9, 977

$428, 371 46

• 183

1,476

199,814 23

5. Territorial:
Accounts for salaries of Territorial officers and for the legislative and contingent expenses incidental to the government
of the Territories
'

•

6. Mint and Assay:
Accounts for gold, silver, and nickel coinage; for bullion; for
salaries of the officers and employes of the several mints, and
for the general expenses ofthe same; and for bullion deposits, XDurchases, and transfers.... ^

" 370

120,160

197

49,320

202, 092 16

78

4,123

596, 539 94

340, 847, 283 49.

7. Transportation:
Accounts for transportation of gold and silver coin and bullion, minor and base coin, United States currency, nationalbank notes, complete and incomplete coin certificates, registered and coupon bonds, mutilated currency, cancelled and
incomplete securities, national-bank notes 'for redemption,
stamp, paper, stationery, boxes, j)arcels, &c
8. Congressional:
Accounts for salaries of the officers and employes, and for contingent and other expenses of the United States Senate and
House of Representatives
'
. 9. Outstanding Liabilities:
Accounts arising from demandslfor payment of drafts and dis.bursing-officers' checks which have remained outstanding for
three years, the funds from which they were payable having
been covered into the Treasury
;
10. Districtof Columbia:

•

91

108^

14, 653 50

71

68, 815

3, 744, 709 29

156

16, 729

2, 619, 600 67

4

49,453

957,197,117 12

94

1,943

' 347, 997 38

3,283

119, 771

11, 282, 9.70 53

9, 976 3,373,958

1, 566, 450,133 73

'

Accounts of the Commissioners of the District of Columbia and
general accounts1)etween the United States and said District.
11. PublicPrinting:
Accounts of the Public Printer for the salaries and wages of
the employes ofthe Governraent Printing Office, for the purchase of niaterials for printing, and for contingent expenses
of the Government Printing Office
.
12. Treasurer's General Accounts:
Quarterly accounts of the Treasurer of the United States for
receipts and expenditures, including receipts from all sources
covered into the Treasury, and all payments made from the
Treasury
IS. Assistant Treasurers'Accoimts:
Accounts of the several assistant treasurers of the United States
for the salaries of their employ6s and the incidental expenses
of their offices
14. Miscellaneous:
Accounts of the disbursing officers of the executive departments for salaries of officers and emx)loy6s, and contingent
expenses of the same; accounts for salaries of Senators and
Representatives in Congress; for salaries of the judges of
the United States Supreme Court, United States circuit and
district judges, district attorneys, and marshals; for salaries
and contingent expenses of the National Board of Health;
and for the expenses of the tenth census
. .
Total from First Auditor




268 ^

REPORT ON THE FINANCES.
No. of
No. of
accounts. vouchers.

Kind.

Amount involved.

FROM THE FIFTH AUDITOR.

15. Internal Revenue:
Accounts of collectors of internal revenue
Accounts .of same acting as disbursing agents
Accounts of internal-revenue stamp agents
Miscellaneous internal-revenue accounts, such as direct tax
accounts with commissioners and with the States; six different monthly accounts with the Commissioner of Internal
Revenue for revenue stamps ; accounts with the disbursing
clerk of the Treasury Department for salaries of officers and
employ6s in the office of the Commissioner of Internal Reve• nue, and for the payment of internal-revenue gaugers; with
the Secretary ot the Treasury for fines, penalties; and forfeitures; with the Treasury Department for stationery;
• with revenue agents and ctistiUery surveyors; di'awback
accounts; accouiits for refanding taxes illegally collected;
for the redemption of internal-revenue stamps; forthe collection of legacy and succession taxes; for expenses of detecting and suppressing violations of internal revenue laws,
. including rewards therefor,'&c

567
926
156

47, 560
39, 591
3,097

$304, 964, 913 58
3, 397, 233 92
5, 014, 259 37

2,314

40, 508

972, 775, 693 57

2,745

.31, 481

5, 440, 868 75

16. Foreign Intercourse:
Accounts for the salaries of ministers, charges d'affaii-es, consuls, commercial agents, interpreters, secretiiries to legations, and marshals, of consular courts; accounts for the
relief and protectioii of American seamen, for expenses of
prisons in China and Japan, for contingent expenses of legations and consulates, for salaries and expenses of legations
and consulates, also, for those of mixed commissions, accounts of United States bankers in London; accounts of the
disbursing clerk. Department of State, for miscellaneous
diplomatic expenses, &c
; 11. Transportation:
Accounts for transportation of internal-revenue moneys to the
sub-treasuries and'designated depositories, and for the transportation of stationery, &c., to internal-revenue officers
Total from Fifth Auditor....:

.....;

22

.7, 818

4, 925 51

6, 730

170, 055

1, 291, 597, 894 70

234
497
431
380

3,074
1, 204
15, 073
2,141

420,, 722 50
1,388,203 05
6, 058,159 12
491, 290 41

533

• 2,795

c 43, 088 41

FROM THE COMinSSIONER OF THE GENERAL LAND OFFICE.

18. Public L a n d s :
Accounts of surveyors-general and the employ6s in their offices.
Accounts of deputy surveyors Accounts of receivers of public moneys
Accounts of same actiug as disbursing agents
Accounts for the refunding of purchase money paid for lands
erroneously sold
Miscellaneous accounts, such as accounts with the several
States for indemnity for swamp and overflowed lands erroneously sold, and for 2 per cent., 3 per cent., and 5 per cent.,
upon the proceeds of sales of public lands; accounts of surveyors-general for the contingent expenses of their offices;
accounts for the salaries and commissions of registers of local
land-offices not paid by the receivers; acoounts with the
Kansas, Denver, Central. Northern, and Union Pacific Railroads, for the transportation of special agents of the General
Land Office; accounts for printing and stationery furnished
the several surveyors-general, registers and receivers; accounts of special agents of the Interior Department; accounts
for the transportation of public moneys from the local land' offices to designated depositories; accounts for salaries.and
incidental expenses of agents employed to examine and verify
public slrrveys; for the return of deposits in excess of the
amount required for the survey of private land claims; for
the transportation of stationery to the several district landoffices, &c
Total from Commissioner of General Land Office




338

2,596

306, 709 89

2,413

26, 883

8, 708,173 38

FIRST

269

COMPTROLLER.

RECAPITULATION.
Number. Vouchers.

From-^
First Auditor
..
Fifth Auditor
Commissioner of General Land Office

Amount involved.

9,976
• 6,730
2,413

$1, 566 450 133 73
1, 291, 597, 894 70
8, 708,173 38

19,119

Total

3, 373, 958
170, 055
26, 883
3,570,896

2, 866,756; 201 81

Eequisitions for the advance of money from the Treasury, in the number following, have been examined and advances thereon recommended:
Internal revenue
Foreign intercourse
Judiciary . .•
."
Public buildiugs
Mint and assay
District of Columbia
Territorial
,
Public printing
Miscellaneous

'.
:....
.

....

^

.'
^
•.

:

Total

1,514
1,373
477 ,
176
379
83
49
12
127
4,190

Official letters v^ritten
Letters received, briefed, and registered
Powers of attorney recorded
Official bonds registered and
filed
,.:.
Miscellaneous contracts and bonds received and registered
Internal-revenue collector's tax-list receipts recorded, scheduled, and referredOrders of special allowances to collectors of internal-revenue recorded, scheduled, and referred
:
Internal-revenue special^tax stamp books counted and certified
Internal-revenue tobacco-stamp books counted and certified
Internal-revenue spirit-stamp books counted and certified
Copies of accounts made, compared, and transmitted:
Internal revenue
1,674
Publiciands
1,113

12,701
5,264
833
225
479
1,515
328
5, 468
12, 029
8, .474

2,787
47
8,769

Caveat cases (United States bonds)
Pages coxDied

The foregoing statement omits mention of a large amount of ofi&cial
work which does not admit of systematic classification and detailed reiiort, and yet has occupied much time and care; such as, e. g., investigation of legal points arising in the adjustment of accounts, and the
preparation of opinions and decisions printed under the authority of
Gongress; the examination of, and decision upon applications for the
issuing of duplicate bonds and other securities lost and destroyed; examination of powers of attorney for collection of money due to creditors
of the United States; decisions upon the rights of persons claiming to
be executors, administrators, or heirs of deceased claimants, to receive
money due from the United States; examination of official bonds; copying of letters forwarded; answering calls for information made by Oongress, the "Departments, and private persons; receiving and examining
emolument returns, and other work of a miscellaneous character.
R E N E W A L OF THE ACT OF J U N E 1 4 , 1 8 7 8 .
•

•

/

.

.

•

The fourth section of the act of June 14,1878 (20 Stat.j 130), provides
that—
I t shall be the duty ofthe several accounting officers ofthe Treasury to continue to
receive, examine, and consider the justice and validity of all. claims under api:)rox3ria


270

REPORT ON THE FINANCES.

tions^the balances of which haA^e been exhausted or carried to the surplus fund under
the provisions of said section t h a t may be brought before them within a period of five
years. A n d t h e Secretary of the Treasury shall rel)ort the amount due each claimant
at the commencement of each session to,the Speaker of the House of Representatives,
who shall lay the same before Congress for consideration: Provided, That nothing in
this act s h a l l b e construed to authorize the re-examination aud paynient of any claim
or account which has been once examined and rejected, unless reopened in accordance
with existing laws.

The ^'period of h.Ye years" mentioned in this section will expire
June 14, 1883, before the Forty-eighth Congress will assemble. I respectfully recommend that you will call the attention of Oongress to
this subject, as it would seem proper that the provision above cited
should be extended.
•
I t may be well to consider whether it is not desirable that there should
be a permanent statute authorizing the examination and report to Oongress of all 'claims under appropriations, the balances' of which have
been exhausted or carried to the surplus fund, which may be brought
before the proper accounting officers within fi\e years after the appropriation was made, or, perhaps, more projierly, within five years after
the right of the claimant originated.
DISBURSING OFFICERS.

Bj" existing law, most of the money with which disbursing officers
make payments is placed to the credit, respectively, of these officers
with an assistant treasurer or designated depository of the United
States, and is disbursed on checks to the order of each claimant
entitled to iiayment. Wlien payment is thus made by check, a voucher
is executed to the disbursing officer, and on such vouchers his accounts
are settled. There is generally no settlement of an account by the
accounting officer of the Treasur^^ Department of the money so deposited.
:
I t is possible that some, if not many, of the disbursing officers' checks
may never be presented for payment, and there is no general mode of
verifying the accuracy of the accounts of depositaries with disbursing
officers.
I respectfully call attention to the subject, so that you may consider
whether it is desirable to recommend to Oongress that provision be
made for the settlement of such accounts.
Under section 310 of the Eevised Statutes the Secretary of the Treasury is every year in receipt,of returns from the proper officers or designated depositaries, reporting outstanding balances to the credit of
disbursing officers or agents which have remained unchanged on the
books of their respective offices for three, years.
Generally, in the cases thus reported, the disbursing officers have long
before ceased to act in that capacity, and in many instances their accounts as such officers or agents have been adjusted and closed on the
books of this Department. •
Frequeiitlj^, after a lapse of three years, in consequence of the death
or unknown residence of the late disbursing officer, it is found impracticable to secure the returns from him, as contemplated by the last
clause of said section, and therefore very difficult to determine to what
fund or appropriation the reported outstanding balance belongs. To
avoid the doubt and difficulty arising in such cases, I respectfully rec-




FIRST COMPTROLLER.

.

271

ommend that said section 310 be amended by an additional provision,
asfollows:
Every disbursing officer of any Department o f t h e Government, on rendering his account at the end of his term of service, shall report therewith whether or not any
public funds remain standing to his credit, as such officer, in any office or, bank or other
depository; a n d i f so, what checks, if any, have been drawn against the same or any
p a r t thereof, which are still unpaid and outstanding.

In this connection I respectfull;^ call attention to the following extract, taken from the Eeport ofthe Secretary, dated December 2, 1878:
By an act approved March 3, 1857, public disbursing officers were required to jplace
all public funds, intrusted*to them for disbursement, on deposit with a i)ublic dexDOSitary, and to draw for the same oiily in favor of the persons to whom payment was to
be raade, excexiting t h a t they might check in their own names Avhen the. x^ayaients
did not exceed twenty dollars.
The enforcement of this provision, according to its letter, was found imx:)raoticable,
and the attention of Congress was called to it in the aunual reports of the Secretary
for 1857 and 1858, with a recommend ation for its modification.
No action in the matter appears to have been taken by Cougress until the act of'
J u n e 14, 1866, reproduced as sectiou 3620 Revised Statutes, was passed. This appeared to suxDcrscde the act of 1857, in removing the restrictions as to the method in
which the money was to be drawn; but by an act apx:)roved February 27, 1877, section ,
3620 has been amended by requiring the checks to be drawn ouly in favor of the persons to whom payments are to be made. .
The object which the law evidently seeks to accomplish meets the entire axiproval
of the department, but to carry its x^i'ovisions into eff'ect would require x^^ymasters
in the Army to draw their checks in favor of the soldiers to be paid, by name, and
paymasters on naval vessels, even during absences for years from tlie UnitedStates, to
pay the officers and jnen only by drawing checks in their favor, on depositaries in the
United States. .
'
,
The same embarrassment extends to all public disbursements, and the attention of
Congress is called to the matter, with the recoramendation t h a t the section be so
amended t h a t disbursements may be made under regulations to be xirescribed by the
Secretary of the Treasury.

The difficulties presented by this statement remain, and hence attention is called to the subject. See Eeport Secretary of the Treasury of
December 5, 1881, and Eeport of 1856-'57, page 24.
D E P U T Y COMPTROLLER.

-The usa^e in this office, which is probably required by law, has been
that the First Gomptroller, when present in person, countersigns all
warrants and signs other official papers. I respectfully recommend
that the Deputy Oomptroller, be authorized, under the direction of the
Gomptroller, to sign all official papers and countersign warrants, except,
perhaps, ''accountable warrants," which require the signature.of the
Secretary of the Treasury himself, when present.
As the duty of signing all official papers is, by law, imposed on the
Deputy as Acting Comptroller in case of the Gomptroller's absence^
and as the time of the Oomptroller, when present, is almost wholly required for the proper examination of questions of law and matters of
official importance, there would seem to be no ground of objection to
the measure proposed.
Under orders of the House of Eepresentatives, a volume of the decisions of the Comxitroller for lhe year 1880, and one for 1881, were
printed, and copies will be furnisheci, fixed in number by law. In addition to these, fifty coxiies were distributed to the Dexiartments in
sheets, as originally printed under the authority of the Treasury Department: The Oomptroller ordeied printed, on his own account and
expense, a limited number of copies, which can, if desired, be furnished



/272

REPORT ON THE FINANCES.

at cost to Departments, or be disposed of otherwise, if Gongress, at its
next session, shall so direct, but if not, they will be disposed of by the
.Gomptroller.
Your attention is respectfully invited to the recommendations contained in my last annual report, the propriety of which seems to me to
be confirmed by observation and experience during the past year.
I have the honor to be, very respectfully,
° WILLIAM LAWEEKOE, .
First Com;ptroiler.
Hon.

GHAS. J.

FOLGER,

Secretary of the Treasury,




REPORT OF THE SECOND COMPTROLLER.

18 F




273




REPORT
OF

THE SECOND COMPTROLLER OF THE TREASURY.
TREASURY D E P A R T M E N T ,

SECOND GoMPa?ROLLER's O F F I C E ,

Washington, Octoher 26, 1882.
SIR : In compliance with your direction, by letter of the 8th ultimo, I
submit a report, in two tabular statements, of the transactions of this
office during the fiscal year which ended on the 30th day of June, 1882.
The first tabular statement shows the total number of accounts, claims,
and cases of every kind settled and adjusted and the amounts allowed
thereon.
The second table furnishes a more detailed statement ofthe same accounts, claims, and cases, showing the character of the accounts, the
source from which received, the number ofeach kind, and the amounts
allowed. A still more detailed statement is prepared and filed for preservation in this office, but it is deemed too voluminous for publication.
NUMBEB of CASES SETTLED.
ISTumber
revised.

From—

Second A u d i t o r
Third Auditor
Pourth Auditor

-.'.

Amounts.

9,460
5, 815
1,858
•-

Total

17,133
3,566

106, 397, 052
366, 022

20, 699

Various sources uot iuvolving preseut expend ture

$20, 721, 638
68, 337, 995
17, 337, 419

106, 763, 074

ACCOUNTS REVISED DUBING the YEAR.
Character of the accounts.

ISTumber Amounts
lowed.
revised.

FROM SECOND AUDITOK.

1. Of Army payraasters, for pay of the Army
2. Of disbursingofficers of the Ordnance department, for ordnance, ordnance
stores, supplies, armories, and arsenals
3. Of disbursing officers of the Medical Department, for medical and hospital
supplies and service
4. Of recruiting officers, for regular recruiting service
5. Of Mailagers of the Soldiers' Home
:
...'.
6. Of miscellaneous disbursements for contingent expenses of Army and
Adjutant-General's Office, expenses of Commanding General'a Office,
Artillery School, &c
7. Of Indiau agents' current and contingent expenses, anmiities, and installmeuts
!
!
Total




520

$11, 144, 956

161

3, 307, 473

42
194
13

468, 682
99,152
76,136

178

162,657

2,632

;, 982, 891

3,740

20, 241, 947

275

276

REPORT

ON T H E FINANCES.

ACCOUNTS B E V I S E D D U B I N G the YEAB—Continned.
Number
revised.

Character of accounts.

xVmounts allowed.

FROM TIIIUD ALIDITOK.

1. Of disbursing officers of the Quarterraaster's Departuient, for regular and
incidental services
2. Of disbursiug officers of the Subsistence Departraent
3. Of disbursing officers of the Engineer Department, foi; military surveys,
fortifications, river and harbor iraprovements, &.c
4. Of pension ageuts for payment of Array pensions
Total

'...

$11, 278, 808
2, 823, 943

87
•227'

6, 955, 759
44, 630, 454

1, 698

65, 688, 964

206
10

15, 760,176
584, 800

109
205

788. 087
22, 832

530

,-

798
586

17,155, 895

FROM F O U R T H AUDITOK.

1. Of paymasters of the Navy jjroper, including payiuastci'S at navy-ya.rds,
and as navy agents aud disbtii'siug officers
-•
2. Of disbursing officers and agents of the Marine Corps.
3. Of Navy pension agents, for payment of pensioners of Navy and Marine
Corps
'
:
4. Of raiscellaneous luiival accouuts
Total

«
CLAIMS B E V I S E D DUBING the YEAB.
C h a r a c t e r of clairas.

Nuraber.

Amounts.

FROM SECOND AUDITOR

5,412
308

Soldiers' p a y a u d b o u n t y
M i s c e l l a u e o u s clainis, P a y D e p a r t r a e n t

$440, 976
38, 715

FROM T H I R D AUDITOR.

F o r lost p r o p e r t y , x)fiid u u d e r a c t of M a r c h 3, 1849
F o r q u a r t e r m a s t e r s ' s t o r e s a n d c o m m i s s a r y s u p p l i e s , p a i d u n d e r a c t of J u l y
4,1864.
S t a t e w a r claims, a c t 1862, &G
F o r A r m y transportatioii
F o r m i s c e l l a n e o u s claims
Oregon and W a s h i n g t o n w a r claims
Of r e p r e s e n t a t i v e s of deceased p e n s i o n e r s .
C l a i m s r e v i s e d a n d disallowed —

402
1,367
8
774
975
10
425
156

291, 463
477,115
1, 482, 946
334, 757
2,330
10, 575

1,271
57

179, 062
2, 462

11,465-

3, 310, 246

FROM FOURTH AUDITOR.

F o r officers' a n d s a i l o r s ' p a y a n d b o u n t y
F o r prize mouey
Total .

CAxSES ADJUSTED, NOT INVOLVING P B E S E N T E X P E N D I T U B E .
Amounts
involved.
1.
2.
3.
4.

447
4
2, 312

Duplicate checks approved
F i n a n c i a l a g e n t s ' a c c o u u t s (Naval) . . .
R e f e r r e d cases a d j u s t e d a n d d e c i d e d .
Special a c c o u u t s ( A r m y )

29,131

Total.

Bonds filed duriug tbe year
Contracts filed during the year
Official letters written and copied
ReqinSitions countersigned and recorded
Settienients recorded
'.
Differences recorded
Clerks emi)loyed, average




$27, 257
309, 634

366, 022

^

88
1,955
1, 838
12, 659
8, 842
3, 423
63^

SECOND COMPTROLLER.

277

The cnrrent work of the office is in a more advanced condition than
it has previously been since the year 1861, the quantity of delayed current accounts having been steadily diminished each quarter year for
several years past, with a corresponding diminution of time between
their rendition and settleraent5 and, except in the settlement of the accounts and claims hereinafter specially referred to, the work of the
office has been promptly dispatched during the year.
Owing to the effect of the decision of the Supreme Court of the
United States in the case of Oapt. E. VV. Tyler vs. the United States,
rendered at the October term, 1881, which changed the mode of computing the longevity increase payable to officers of the Army, a very
great amount of additional work has devolved upon this office in the
adjustment of Army officers' accounts.
In addition to the new work thus originated', it has been deemed necessary to enter upon the.settlement of the accouuts heretofore accrued in
favor of the Soldiers' Home under the act of March 3,1851 (section 4818,
Eevised Statutes), which grants ~to that institution all stoppages and
fines adjudged against soldiers, all forfeitures on account of desertions,
and the custod}^ of the money of deceased soldiers remaining unclaimed
for three years. It is estimated that the amount due to the Soldiers'
Home on these accounts exceeds a million dollars, and that the settlement of these two classes of accouuts will require labor more than
equivalent to that of eight experts for a period of one year.
I t also hapxiens that the number of soldiers' bounty claims transmitted to this office for settlemeut during the last ten months is much
in excess of those transmitted for similar periods within several years
past.
"
"
°
The pressing necessity for early settlement of these three classes of
claims has madeit necessaryto place upon them nearly all the force
heretofore employed in the current work of settling paymasters' Accounts ; thirteen out of the fourteen men on duty in the Army pay division of the office being at present en gaged "thereon.
Whatever means can be lawfully taken to iucrease the number of experts in the revision of Army pay accounts thus accumulating in the
office will be greatly to the advantage^of the service.
Very respectfully,
W.W.-UPTON,
Comptroller.
Hon. CHAS. J. FoLaER,

Secretary of the Treasiiry.







REPORT OF THE COMMISSIONER OF CUSTOMS.




279




REPORT
Ol?

THE COMMISSIONER OF CUSTOMS.
TREASURY DEPARTMENT,
O F F I C E OF COMMISSIONER OF CUSTOMS,

Washington City, D. C, Octoher 24, 1882.
S I R : I have the honor to submit herewith for your information a
statenaent of the work performed in this office during the fiscal year
ending June 30, 1882.
Number of acconnts on hand J u l y 1, IS-'^l
Nunibea- of accounts received from the First Anditor during the year
Number of accounts adjusted during the j e n r
Num ber of accouuts returned to the First .^Luditor

184
5,707
5, 891
5, 730
..
22
-— 5, 752

,.

Number of accouuts on hand J u n e 30, 1882

139

There was paid into the Treasury from sources, the accounts relatingto which are settled in this office:
Ou
Ou
Ou
Ou
Ou
On
On
On
On
On
On
On
On

acconnt
account
account
account
account
account
account
account
acconnt
account
acconnt
acconnt
acconnt

of
of
of
of
of
of
of
of
of
of
of
of
of

customs
marine-hospital tax
steamboat fees
fines, peualties, and forfeitures
storage, foes, &c
deceased passengers
emolument fees
.'
mileage of examiners
interest on debts due.'
rent of public buildings
relief of sick and disabled seamen
proceeds of government iiroperty
miscellaneous items

.

Aggregate

|220, 410, 730
405,103
279, 889
105, 644
867, 338
370
368, 822
1,542
853
3,143
2,112
22, 799
,

25
59
30
80
36
00
74
10
92
75
10
34
59

222, 469,350 84

And there was paid out of the Treasury on the following accounts,
viz:
Expenses of collecting the reveuue from customs
Excess of deposits
Debentures
Public buildings
Construction and maiutenanee of lights
Construction and maintenance of revenue-cutters
Marine-Hospital Service
;
Life-saving stations
Detection and prevention of frauds upon the customs revenue
Compeusation in lieu of moieties.
Protection of sea-otter hunting grounds and seal-fisheries in Alaska..
Seal-tivsheries in Alaska
Inspecting neat cattle shipped to foreign ports
Metric standard weights and measures




$6,506, 359
3, 680,845
2,092,907
2, :^65, :i53
2, 392,147
907,429
468,120
598, 624
43, 471
30,628
19,559
15,263
10,475
7,747
281

26
77
27
31
12
21
16
59
24
82
10
06
67
78

282

REPORT ON T H E

FINANCES.

Distribution of standard weights and measures for use of collectors..
Unclaimed merchandise
Report of taxation upon ship-owners under State laws
i)ebentures and other charges
^
Refunding money erroneously received and covered into the Treasury
E x t r a pay to officers and men in Mexican war—revenue marine
Relief of officers and crevy of whaling barks Mount Wallaston and
Vigilant
Relief of Sidney P. Luther
Relief of Timothy E . E l l s w o r t h . . .
Aggregate

I ' , 800
2,203
1, 000
179
172
156

00
63
00
45
85
00

6,000 00
85 00
2,580 50
19,159,109 79

Number of estimates received and examined
2,717
Number of requisitions issued
2,717
Amount involved in requisitions
|15,729,303 61
The number of letters received:
11,709
The. number of letters written
10,447
The number of letters recorded
6,843
The number of stubs of receij^ts for duties and fees returned by collectors.-.-.
'.
246,802
The nuniber of stubs examined
223,978
The number of stubs of certificates of payment of tonnage dues received and entered
8, 061
The number of returns received and examined
77,369
The number of oaths examined'and registered
2,578
The nuniber of appointments registered
3,680
The average number of clerks employed
30

I inclose herewith a statement ofthe transactions in bonded goods during-the year ending June 30,1882, as shown by the adjusted accounts.
I am, very respectfully, your obedient servant,
H. C. JOHNSON,
Commissioner of Gustoms.
The

SECRETARY OF T H E TREASURY.




STA T E M E N T of WABEHO USE TBANSACTIONS at the several D I S T B I C T S and POBTS of the UNITED S d A T E S for the year ending June 30,1882.
^ opP
03

-- P
rl

S^ 3 ^

Districts.

c3"43

2^

Albany ..'.
Baltimore
Bangor
Barnstable
Bath.
Beaufort, S.C
Beaufort, N. C
Boston and Charlestown..
Brazos de Santiago
Brunswick
Buifalo Creek.
Belfast
Cape Vincent
Castine
Champlain
Charleston
Chattanooga
Chicago
Cincinnati
Corpus Christi
Cuyahoga
Delaware
Detroit
Duluth
DunkirkErie . . . . EvansviUe
Eall Kiver
,
Eernandina
Erenchman's Bay
(^alveston
,
Grenesee
Gloucester
Greorgetown, D. C
Huron
Indianapolis
Kennebunk




$151,236 13
782 00
579 49
43, 053 77
1, 620 15

$451, 979 88
17, 684 96

5,830 59

67 28
9, 735 80
2, 331 54
173, 647 74
25, 909 26
4, 676 68
2, 696 39
1, 363 4.6
33, 946 08

899, 348 51
79, 724 41
297, 539 97
9, 860 07
743 78
54, 704 03
13,781 63

7,112 12
440 54
13, 672 03
4, 780 35
11, 531 20
1,496 28
2, 232 34

ft

2 c^ cr-

. 72, 437 60
3, 738, 929 17 12, 930, 503 27
353 35
• 317, 067 46

2, 264 85
2, 214 .78

-l.§
eg o

^

rt C/3 P

^ § bD.S r-r

2?'3

1J:i o

.O !-! W p
®
o .

27, 991 03
236, 790 44
9, 314 75
32, 901 36
1, 976 00

$18, 376
1, 658
7, 884
71, 088

16
49
50
26

$159, 922 03
91,636 39
14, 889 04
1,064 56
5, 527 67
282 05

65, 983 39 2, 756, 411 75
235, 321 09
2 5 973 64
.,
8, 686 23
5, 307 22
588, 916 99
2, 796 57
405 44
18, 261 26
327,182 52
3, 291 15
21, 927 45
273,110 81
44, 648 65
7, 573 30
3,189 18

119, 781 86
14, 585 76
22, 406 49
368 27
19, 576 11
52, 937 63 1, 805, 579 56
8, 857 77 1, 628,192 64
*45 92
6,419 20
4, 398 46
845 46
38, 513 45
36 00
1, 839 75
11, 208 25
22, 496 64
5, 700 86
3, 074 79
11,954 17
234 37
1,533 55
3, 508, 527 26
205 10
16, 988 12
252.51

$159, 922
437, 403
1, 780
108
36, 059
1, 902
56, 322
285, 774 35 12, 755,788
007
$5, 959 45
23 35

34 63
4 08
20 08
42 30
10, 708 56
497 53
40 13
'604'79'

182
15
847
235
158
51
69
8

47
45'
49
80
27
76
90
74

03
88
47
54
00
20
05
57
49

602 53
195 74
47 20
112 16
963 10
975 04
21, 927 45
i 1, 041,493 19
121, 111 39
3, 617 14
13, 5.18 77
20, 597 80
105, 862 21
806 80
45 92
180 09
798 26
513 45
349 22
214 33
132, 200 72
14, 858 41
204 11
8i5 02

;28, 463 59 I $70, 520 11
4,312 01
10, 577 03
69 12 I
8, 618 65
354 91 i
242 31
426, 346 15
18,483 33
8, 686 23
154, 598 64
7, 052 18
298,206 68

, 649, 519 03
548, 596 64
429. 751 94
1.673 77
11,161 88
1, 388 58
30, 067 29
1,127 89

11,197 89
1,830 it)
7, 573 30
579 00

202, 457 34
5, 658 00
320, 911 40

8,133 45
1,160 36

1, 802, 601 70
1, 634,436 92

. 5^52
5 hjCO

. ^«

b o o ^ "_
i

$16, 847 24
506 25
49, 061 1 4
.

$165, 9.53 19
177 12
732 24
51,721 13

656, 455 27
7 63

16,115 55
3, 289, 492 91
10, 620 45

2, 885 21

! 401 17
,
662 07

"'"670'65

4, 359 69
322 44
3 15
4 65

04

70 08
11, 482 24
1, 369 39
217,089 37
36, 443 68
91 35
2, 051 02
1, 085 55
31,174 69
646 33

O
O

g
CO
GO

»—(
O
tz!,

W
O

a
O

6, 419 20
47 20
36 00
2, 352 48
909 24
667 10

1, S41 21
13, 383 94
46, 671 71

1, 629 50

183,102 48 '3,"325,'424'78'

1, 054 00
118 67
69 90

252*61'

2, 232 34

4, 936 40
240 20
135, 448 21
7, 338 90
7, 948 08
1, 338 27
205 10

CO

oo

to

STATEMENT of WABEHOUSE TBANSACTIONS at tlie sevei^al DISTBICTS and POBTS of the UNITED STATES, cfc—Contmued.

CO
O p bS)>,

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^ ^

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P
Q

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O

$9, 833 43
$2, 251 22
$27, 595 03
$193, 854 30
Key West
3,900 69
10,992 08 j
3, 016 92
7, 507 77
Louisville
97 50
Marblehead
792 75
3, 744 54
80 00
Memphis
1,133 61
11,348 53
Miami
1, 065 25
Michigan
36. 858 46
3, 288 40
Middletown .
...
5, 915 68 I
4,316 23
1,531 86
1,368 19 1
10, 284 25
178,162 49
Milwaukee
2, 015 62
2, 376 82 '
17, 910 43
Minnesota
258, 556 59
545 82
5, 400 34 '
430 00
1,898 80
Mobile
2,721 03
Montana and Idaho
733 00
783 04 ,
1,318 25
Nasbville
5, 050 09
2, 370 54 :
36 13
Newburyport
3,389 88
327,312 33
21, 751 40
41 20
New Haven
1,189 04
2, 217 80 '
6,455 65
28,172 42
New Bedford
18, 290 53 1, 559, 483 16
231,824 51
759, 201 45
New Orleans...:
554 514 15 13, 813, 711 64
17,331,052 75 .47, 764, 594 15
New York
1,678.369 32
Niagara
3, 573 06
Newark
65 26
107 64 ;
16, 308 56
New London
21,927 45
Norfolk and Portsmouth
824 60
2, 538 71
260 63
Omaha
Oregon (Oct. 1, 1872, to June
424 70
30, 1882)
2,117 39
203, 071 41
6,133 65 :
Oswegatchie
5, 898 30
806,231 00
5, 593 95
Oswego
93, 238 74
1, 390 49
2. 1.54 75
10, 581 61
Passamaqnoddy
14, 949 06
Paso del Norte
176, 559 48
3, 556 80
2, 417 70
44, 732 25 \
Perth Amboy
5, 558 35
574 67
28,128 38
,016,197 87 1 4, 367, 227 45
Philadelphia
53, 753 24
44, 348 49
44, 232 42 :
3, 543 04
Pittsburgh
38, .74 88
11, 01 i 71
28, 510 59
16, 504 34
Plymouth
:..
565, 980 98
170,525 71
74, 255 79 3, 276,375 39
Portland and Eaimouth
886 37
276 41
1, 276 92 I
57, 484 39
Portsmouth
15,873 89
11,148 99 i
1.5,554 25
Providence
3, 163 86
463 50
Digitized for Puget Sound
FRASER
33 12
Saco
.1.



pS

J-J 03

S >i 5 I oo

PP
i
i

$3, 726 28
87 30

$176, 070 94
18, 733 97

$12, 695 55

$399 24

$1, 252 30
10 45

$46, 842 23
6, 760 34

97 50

11 21
88 16
20

4, 037 58
11,348x13
1, 065 25
41, 766 40
30,202 13
10,493 79
8, 078 62
532 76
1, 978 10

1,713 32

O

7, 261 37
2, 208 75
4, 072 19
196 54

O

40
780 90
491 40
32, 306 51

1.58, 455 70
234,075 13 I

570 10
2

2,188 27

123 20
733 00
4, 494 82
36 13
2, 925 81
241 82
60 68
42, 396 40
302, 893 47
6, 902 44
211 64
34, 588 85
977 40
609 22
1, 647 80
272,369 14
43, 323 39
45.123 98
533, 716 97 1, 484, 249 85
280, 264 28
1,326,652 74 47, 490, 807 25 1, 053,157 82 15,169,450 88 2, 046, 556 72 15, 030, 552 76
221,816 46 1, 456, 5.52 86
3, .573 06
10,201 36
6,290 86
21,927 45
i
3, 323 20
""326'66
424
2, 650
385, 280
3, 879
31 70
264, 346 72
38 04
4984
158 31

70
95
50
02

54, 518
4, 646,010
106, 292
29, 908
586, 143
30, 887
32, 454

30
16
63
49
18
50
64

38, 077 68
519, 690 49
14,384 34

169, 636 55
14 35
6,429 55
176, 559 48
27, 297 48

74 88
7, 267 91- 3, 326, 864 36
• 812 84
12 00

971 53
5, 976 65
4, 383 00
129, 744 37
. 11, 097 56
50

463 50
33 12

1,778 50
908,938 00
24, 622 60
26,119 15
155, 814 70
45, 211 75
13, 444 16

lH
-

o
Ul

Salera and Beverly
San Diego
San Erancisco
Savannah.
Saint Louis
Superior
Vermont
Waldoborough ..
Wheeling
AVillamette
AViscasset...
Wilmingtou, N. C
York

327 00

4, 824 83

....

1 065 021 79
' 522 35 i
' 8,' 676 74
478 47
31,736 32 ' v>. 7K:i 4'>8 7r;
60 071 m
727 66
2, 206 07

13, 079 05
5, 740 83

9, 845 73
1, 656 43
415 98

66,535 15
898 17
12,230 27

91, 830 03

6,"646'26
4, 933 70
4, 636 38

32 70
160,149
683,129
3, 294
1, 354, 664
130
864, 912
892
145
9, 358

38
25
95
28
19
10
27
12
86

27,'871 57

4,143 17
.

49, 456 98
64 00
407 94
931 74
1 00
123 78
229 04

2, 639, 540
6, 243
892,126
.130
201, 885
274
145
86, 660
48
28, 059

02
80
49
19
62
80
12
01
77
01

158, 529
107,160
341
166, 523

..;
38 '
97
93
70 .

443
2, 296
789, 512
88
367, 454

56
74
01
00
22

263, 235 64 •

410, 077 42
1 636 70

5 00 !
536 11 i

964 34
3,768 60

597 80
160,097 84
2 00

951, 204 08
6, 582 21
33, 362 53

2, 489 38
4,969 53

1 962 49
8 605 40

1

28, 462 74
1 939 33

457 58
j

23 52

23 52

•

To*al

65, 928, 928 75 138, 811, 355 02

3, 330, 455 79 68, 949, Oil 00

3, 728, .174 18 148, 600, 694 71 10,157, 636 45 166, 0c2, 804 35

6, 038, 051 64

49, 898, 737 59

BECAPITULATION.
Balauce duo July 1, 1881
AVarehoused and bonded
Rewarehoused and bonded
Constructively warehoused
^
Inwease of duties ascertained on liquidation
Total

$65, 928, 928 75
138, 811, 355 02
3, 330, 455 79
68, 949, Oil 00
3,728,174 18

•

.-

TKEASURY DEPARTMENT, OFFICE COMMISSIONER OF CUSTOMS,




October 24, 1882

280,f47,924 74

AVithdrawal duty paid
Withdrawal for transportation
Withdrawal for exportation
Allowances and deiicieucies
Balance due J u n e 30, 1882
Total

$148, 600, 094 71
10,157, 636 45
66, 052, 804 35
6, 038, 051 64
49, 898, 737 59
:

o
o
Ul
Ul

O

280, 747, 924 74
H. C. JOHNSON,
Comwissioner of Gustoms.

O

a
a
m
O
Ul

INS
OO




REPORT OF THE FIRST AUDITOR.




287




EEPORT
OF

THE FIRST AUDITOR OF THE TREASURY.
TREASURY DEPARTMENT,
FIRST AUDITOR'S OFFICE,

Washington, Octoher 17, 1882.
SIR : I have the honor to submit the following exliibit of the business
transacted in this office during the fiscal year ending June 30,1882:

Accounts adjusted.

Amount.

RECEIPTS.
Duties on merchandise and tonnage
Steamboat fees
Eines, penalties, and forfeitures
^
Marine-hospital money collected
Official emoluments of collectors, naval officers, and surveyors
Moneys received on account of deceased passengers
Moneys received from sales of old materials, &c
Miscellaneous receipts
Moneys retained from Pacific railroad companies for accrued interest on bonds.
Treasurer of the ITnited States, for moneys received
Mints and Assay Offices
Water rents, Hot Springs, Arkansas
Total.

1,426 $217, 547, 047 93
1,256
327, 459 12
767
120, 923 47
1,501
343, 003 88
1,191
1, 018, 784 48
51
1,190 00
249
340,110 35
698
988, 717 31
12
810,833 80
5 604, 560, 683 14
25 147, 593, 326. 82
x2
5, 391 09
7,193

973, 657, 471 \

DISBURSEMENTS.
Expenses of collecting the revenue from customs
Detection and prevention of frauds on customs' revenue
Debentures, drawbacks, &c
^..
Excess of deposits refunded
Revenue-cutter service
«-.
Duties refunded, fines remitted, judgraents satisfied, &c
Marine-Hospital Service
Official emoluments of collectors, naval officers, and surveyors
Awards of comp'ensation '.
Light-House establishment, miscellaneous
Salaries of li^ht-house keepers
Supplies of light-houses
Repairs of light-houses
Expenses of light-vessels
Expenses of buoyage
Expenses of fog- s i s a l s
Expenses of lighting and buoyage of the Mississippi, Missouri, and Ohio
Rivers
.'.
,
1
Expenses of inspection of lights
Steam-tenders and light-ships for Light-House-Service
Commissions to superintendents of lights.
Salaries and mileage of Senators
Salaries, officers and employ6s. Senate
Salaries and raileage members and delegates. House of Representatives
Salaries, officers and emplo.v6s. House of Representatives
Salaries of employes, Executive Mansion '.
Salaries paid by disbursing clerks of the Departments
Salaries, officers and emploj76s, Independent Treasury
Salaries of the civil list, paid directly from the Treasury
Salaries, office of the Public Printer
Salaries, Bureau of Engraving and Printing
Salaries, Conjgi-essional Library

/ 19 F



1,663
6
185
504
• 534
1, 323
1,145
1,166
161
28

101
108
86
36
83
57
29
15
10
3
6
18
1
72
5
301
46
1,951
4
12
8

6,481, 128 52
32, 553 56
1, 080, 026 03
2, 240, 989 25
743, 490 61
1, 552, 194 53
451, 977 59
813, 195 81
25, 050 04
9, 117 67
558, 969 28
311, 614 77
276, 396 65
• 222, 623 57
369 88

53, 042 74
187, 277 32
3, 512 19
209
140, 495 20
24
14, 885 83
434, 618 89
258, 461 44
731, 364 94
291, 079 96
41, 459 57
5, 898, 905 51
336, 751 25
571, 600 00
13, 993 36
25, 372 64
44

289

290

REPORT ON THE FINANCES.

O p
D

Accounts adjusted.

Amount.

DISBURSEMENTS-Continued.
Salaries, standard weights and measures
Salaries, Steamboat-Inspection Service
Salaries, special agents, iDdependent Treasury
Salaries, custodians and janitors
Salaries, Agricultural Department
Sala,ries, Botanic G-arden
,
Salaries and expenses. National Boa.rd of Health
Salaries of erapluy6s, public buildings and grounds
Contingent expenses, Executive Mansion
Contingent expeuses, TJnited States Senate
Contingent expenses. House of Representatives
Contingent expenses, Departments, AVashington
Contingent expenses. Independent Treasury
Contingent expenses, Steamboat-Inspection Service
Contingent expenses, public buildings and grounds
Contingent expenses, office of Public Printer
Contingent expenses. National Currency, reimbursable
^
Contingent expenses, Court of Claims
Contingent expenses, Library of Congress
Contingent expenses, executive offices. Territories
Contingent expenses, Department of Agi-iculture
Contingent expenses. Miuts and Assay Offices
Stationery, Interior Department
Treasurer of the United States, for general expenditures
Gold and silver bullion account
Ordinary expenses, Mints and Assay Offices
,
Parting"and refining bullion
'.
Coinage of standard silver dollars
:
Ereight on bullion and coin
Transportation of silver coin
,.
Storage of silver dollars
,
Eixtures and apparatus, assay office. Saint Louis
Manufacture of medals . . .
Legislative expenses. Territories of the IJnited States
,
Defending suits in claims against the United States
Examination of rebel archives
,
Collecting mining statistics
".
Geodetic and Coast Survey of the United States
.:
:
Geological survey of the Territories and salary of Director
Hlustrations for report on geological suivey ol' the Territories
Lands and other jnoperty of the United States
Protection and improvement of Hot Springs, Arkansas
Expenses of collecting rents, Hot Springs
,
Reproducing plats of surveys, General Land Office
Adjusting claims for iudemnity for swamp lands
Protection and improvement df Yellowstone Park
Commission to classify land and codify land laws
Depredations on public timber
1
•.
Reclamation of arid and waste lands
North American Ethnology, Smithsonian Institution
Polaris repoit, Smithsonian Institution
Judicial expenses,,embracing accounts of United States marshals, district
attorneys, clerks and commissioners, rent of court-houses, support of prisoners, &c
Prosecution of crimes
Suppressing counterfeiting and crime
Investigation of frauds, Office of Commissioner of Pensions

4
7
5
6
4
5
9
5
6
42
44
528
217

59
4
4
7
6
101
7
5
13
94
24
39
10
7
6
19
1
12
5
3
51
32
27
6
12
14
3
6
7
7
1
7

$4, 273 55
251, 026 39
2, 697 38
89, 001 90
76, 071 73
10, 307 04
101, 570 05
38, 969 13
12, 514 29
151, 287 77
187, 455 99
463, 992 37
99, 132 66
38, 183 75
512 63
1, 500 62
731 48
47,
4, 973 37
1, 391 40
2, 182 18
12, 496 80
6, 068 82
57, 711 26
555, 319,437 21
143, 858,039 98
1, 536,950 07
327, 851 02
171, 369 47
00
59, 892 20
859
13, 281 02
17, 506 12
6, 498 23
25,
63, 164 80
29, 743 50
753 75
• 5,
4, 598 71
585, 199 20
180, 905 42
080 11
6, 575 24
'4, 633 18
8, 165 47
1, 942 00
24, 453 57
16, 203 78
16, 566 59
41, 228 66
19, 533 14
41, 772 71
215 30
2,

5, 581.
5
28
6

3, 913, 974 87
15, 512 36
97,058 79
63, 319 30

37
104
11
1
2

56, 780, 922 43
11, 364, 550 08
493,148 18
210, 000 00
10, 970 00

INTEREST ACCOUNT.

Registered stock
Coupons
.District of Columbia, Washington, Georgetown, and corporation bonds .
Navy pension fund
Louisville and Portland Canal Company's bonds
".
REDEMPTION ACCOUNT.

United States bonds, called:
Principal
Interest
United States bonds, purchased for sinking fund:
Principal
Interest
Refundin o; certificates:
Principal
Interest
Certificates of deposit
District of Columbia stock:
Principal
Interest and p r e m i u m




'.'.'.V.V.

80, 352, 550 00
1, 487, 691 91

V....'.'.'.'.'.'.'.

73, 321, 900 00
653, 272 85

.V.V'.'.'.'.'VW.
.'....'.'.

218, 300 00
23, 441 29
16, 451,110 00
248, 200 00
35, 287 14

291

FIRST AUDITOR.

A c c o u n t s acljusted.

Amount.

DISBURSEMENTS-Continued.
REDEMPTION ACCOUNT—Continued.

Louisville and Portland Canal Company's bonrls.. N o t e s , one a n d t w o y e a r s , c o m p o u n d i n t e r e s t a n d 7-303 :
Principal
Interest
Legal-tender notes destroyed
E r a c t i o n a l cu r r e n c y d e s t r o y e d
Old demancl n o t e s clestroyed
Redemption, worn and mutilated United States n o t e s . . .
Refunding the national debt
:...
Expjenses of n a t i o n a l c u r r e n c y
Examination ofnational banks and bank plates.
J u d g m e n t s of t h e C o u r t of C l a i m s
R e p o r t i n g d e c i s i o n s of t h e C o u r t of Clairas
Outstandiug drafts and checks
Post-Office D e p a r t m e n t T e c i u i s i t i o n s
Postage.
Life-saving Service
'.
,
L i f e - s a v i n g Service, c o n t i n g e n t e x p e n s e s
•
E s t a b l i s h i n g ; 1 ife-saving s t a t i o n s
,
P u b l i c printing and binding.
T e l e p h o n i c c o n n e c t i o n b e t w e e n t h e C a p i t o l a n d G o v e r n m e n t P r i n t i n g Office
T e l e g r a p h b e t w e e n t h e Capitol, D e p a r t m e n t s , a n d G o v e r n m e n t P r i n t i n g Office
L a b o r a u d e x p e n s e s of e n g r a v i n g a n d p r i n t i n g
P r o p a g a t i o n of food-fishes
-I l l u s t r i i t i o n s for r e p o r t on food-fishes
I n q u i r y r e s p e c t i n g food-fishes
S t e a m Vessels (food-fishes)
C o u s t r u c t i o n of fish p o n d cm M o n u m e n t lot
Eish-hatching establishment
.•
l u c r e a s e of L i b r a r y of C o n g r e s s '.
E u r n i t i i r e for L i b r a r y of C o n g r e s s . . . . . .
J o i n t S e l e c t C o m m i t t e e t o p r o v i d e a d d i t i o n a l acconomodations for L i b r a r y of
Congress
W o r k s of a r t for t h e C a p i t o l
Library, Treasury Department
:
C o n s t r u c t i o n of c u s t o m - h o u s e s
'.
C o n s t r u c t i o n of c o u r t - h o u s e s a n d post-offices
• C o n s t r u c t i o u of a p p r a i s e r s ' s t o r e s
C o n s t r u c t i o n of sub-trcf^sury b u i l d i n g , N e w Y o r k
C o n s t r u c t i o n of N a t i o n a l M u s e u m .
C o n s t r u c t i o n of b u i l d i n g for S t a t e , W a r , a n d N a v y D e p a r t r a e n t s
C o n s t r u c t i o u of b a r g e office. N e w Y o r k
'.
C o n s t r u c t i o n of l i g h t - h o u s e s
C o n s t r u c t i o n of b u i l d i n g for B u r e a u of E n g r a v i n g a n d P r i n t i n g
C o n s t r u c t i o n of e x t e n s i o n of G o v e r n m e n t P r i n t i n g Office
.'
C o n s t r u c t i o n of m a r i n e h o s p i t a l s
'
C o n s t r u c t i o n of s u b - t r e a s u r y b a i l d i n g , San F r a u c i s c o
C o n s t r u c t i o n of p e n i t e n t i a r y b u i l d i n g , D a k o t a
(.construction of a s s a y offices
C o n s t r u c t i o n a n d r e p a i r of r e v e n u e s t e a m e r s
..-.
P l a n s for p u b l i c b u i l d i n g s
."
C o m p l e t i o n of AVashington M o n u m e n t
R e c o n s t r u c t i o n of I n t e r i o r D e p a r t m e n t b u i l d i n g
R e p a i r s of t h e I n t e r i o r D e p a r t m e n t b u i l d i u g . . ' .
R e p a i r s , fuel, &c.. E x e c u t i v e M a n s i o n
."
A.nnual r e p a i r s of t h e C a p i t o l
A n n u a l r e p a i r s of t h e T r e a s u r y b u i l d i n g
R e p a i r s a n d p r e s e r v a t i o n of p u b l i c b u i l d i n g s
E i r e - p r o o f ruof, b u i l d i n g c o r n e r of S e v e n t e e n t h a n d F s t r e e t s
1
R e n t of b u i l d i n g s in AVashington
.'.
L i g h t i n g , &c.. E x e c u t i v e M a n s i o n
Lighting the Capitol grounds
'
.'
Fu'el, l i g h t s , anct w a t e r for p u b l i c b u i l d i n g s
.'.
E u e l , l i g h t s , &c., D e p a r t m e n t of t h e I n t e r i o r
..:'
F u r n i t u r e n n d r e p a i r s of s a m e , p u b l i c b u i l d i n g s
V a u l t s , safes, a n d l o c k s for p u b l i c b u i l d i u g s
."
H e a t i n g a j ) p a r a t u s for p u b l i c b u i l d i n g s
"
H e a t i n g a p p a r a t u s for S e n a t e
I m p r o v e r a e n t a n d c a r e of p u b l i c g r o u n d s
Iraproving Capitol grounds
Retained percentages, iraproving Capitol grounds
C o n s t r u c t i n g elevat or, E x e c u t i v e M a n s i o n
E l e v a t o r in Tl o u s e w i n g of C a p i t o l
R e p a i r of b u i l d i u g o n T e n t h s t r e e t
P u r c h a s e of F r e e d m a n ' s B a n k b u i l d i n g .
.'
.'
I m p r o v i n g Botanic Garden and buildings




$15, 880 00
17, 840
2, 726
39, 221, 872
51, 285
735
22, 502

00
85
00
00
00
68

2
56
5
31
1
107
2
30
90
48
23
154
7
4
19
23
1
3
5
11
4
10

411
135, 971
79
595, 581
000
1,
15, 093
133, 923
143, 058
471, 410
33, 691
29, 648
1, 345, 160
193
939
1, 258, 948
116, 502
37
2, 099
1, 894
4', 113
9, 999
17, 024
269

07
83
45
17
00
95
67
15
70
68
34
67
00
67
86
79
32
98
61
08
81
86
50

5
5
12
263
282
14

870
876
471
1, 312, 285
786, 571
31, 334
195
22, 781
511
2, 896
505, 265
580
898
800
061
533
084
62, 849
4, 121
135, 966
75, 618
15, 307
50, 285
52, 130
38,,989
144,.192
14, 527
66, 260
15, 178
28, 875
352, 612
9, 356
191, 620
386
424
2, 453
47, 780
59, 347
4, 487
2,,000
6, 983
1,,000
250,,000
11 ,958

00
72
73
11
10
94
00
56
54'
31
22
70
80
00
79
45
01
88
03
18
64
59
64
53
15
17
23
00
41
69
27
92
39
00
47
64
21
42
77
00
19
00
00
64

7
15

12
20
9
164
12
4
1
12
5
12
14
7
9
5
5
6
4
15
29
5
32
4
5
70
5
37
7
20
3
5
5
3
2
3
3
1

292

REPORT ON THE FINANCES.

DISBURSEMENTS-Continued.
Improving grounds, Agricultural Department
r
W ash.ington Aqueduct ...
Repairs of water-pipes and fire-plugs
Constructing, repairing, and maintaining bridges, District of Columbia
Agricultural Department, cxperiraeiital garden
Agricultural Department, library
:
A gricnltural Department, museura
Agricultural Department, laboratory
Agricultural Dei)artraent, furniture, cases, &c
Agricultural Departraent, collecting statistics
Agricultural Department, purchase and distribution of valuable seeds
Commission lo report on the cotton worm and Rocky Mountain locust
Investigating diseases of swine and other domestic animals
• Investigating tbe history of insects irijurious to agriculture
Machinery and experiraents in the manufacture of sugar
Experiments in the culture of tea
Examination of wools and animal fibers
Report on forestry
:
Data respectiug agricultural needs of arid regions. United States
Transportation, agricultural ancl mineral specimens to Atlanta, Ga
Building for Department of Agriculture
Preparation of receipts, expenditures, and appropriations of the government.
Centennial celebration, Groton Heights
Centennial celebration, Yorktown
.'
Yorktown Monument
l
Maps of the. United States
Transportation of maps and reports to foreign countries
Distinctive paper for United States securities
Checks and certificates of deposit
Captured and abandoned property
• Refoi-m School, District of Columbia
Freedman's Hospital and Asylum
Government Hospital for the Insane, buildings, &c
Government Hospital for the Insane, current' expenses.
Columbia Institution for the Deaf and Dumb, buildings, &c
Columbia Institution for the Deaf and Dumb, current expenses
Columbia Hospital for Women
Howard University
Saint Ann's Infant Asylum
Children's Hospital...'
National Association for the Relief of Colored Women and Children
Women's Christian Association
Industrial Home School
Maryland Institution for the Instruction of the Blind
Miscellaneous
Transfers by warrant and counter-warrant

5
4
4
6
1
1
1
12
1
7
2
3
2
9
23
1
5
5
5
• 8
5
4
5
4
4
<.4
4
4
6
4
323
2

$7, 671 59
17, 857 07
1, 785 88
2, 747 66
6, 895 91
892 32
459 39
2,519 19
3, 959 63
11,749 11
93,104 48
8, 096 44
18, 880 22
21, ioO 27
19, 788 73
7,651 54
5, 788 54
5, 224 84
2, 823 25
715 45
3, 147 84
6,545 47
5, 000 00
19,128 50
3, 587 90
11,999 75
490 82
36, 027 39
13, 684 10
1,125 61
48, 922 88
42, 884 82
26,114 85
281,570 80
9, 369 49
52, 350 73
19, 579 03
10, 255 00
5, 001 58
.5, 002 56
6, 882 97
5,184 60
12, 097 17
4, 825 00
330,493 80
18, 003 41

DISTRICT OF COLUMBIA ACCOUNTS.

Refunding taxes
Wasbington redemption fund
Redemption of tax-lien certificates
Relief of the poor
Support and medical treatment of infirm poor
Employment of the poor
Relief of Thomas Lucas
Salaries and contingent expenses
Improveraent and repairs
Washington Asylura
Georgetown Almshouse
Government Hospital for the Insane
Transportation of paupers and prisoners
Reform School
Public schools
Metropolitan police
Eire departraent
Courts
Streets
Health department
Miscellaneous and contingent expenses
Washington Asylum, building aud grounds
Markets
AVashington special-tax fund
Payment of the Linthicum loan
Water fund
Judgments
Industrial Home School
:
Constructing, repairing, and maintaining bridges.
Total




3,472 65
1,930 05
4,172 81
11,377 62
4,999 53
19, 934 03
2,741 89
111,933 58
83, 826 24
51, 478 78
2. 926 70
104, 751 25
5, 254 23
12.786 81
483, 862 44
379,472 39
136, 773 78
2, 768 28
248, 596 80
40, 974 47
45,703 06
8, 200 00
14, 763 76
11, 972 44
40,000 00
94, 589 71
442 10
4, 918 28
6,490 71
l
20, 802 j , 025, 640, 807 75

FIRST

293

AUDITOK.

Number of certificates recorded
15,179
Number of letters recorded
-4,-501
Judiciary emolument accouuts registered aud referred
538
Number of powers of attorney for collection of interest on tbe public debt
examiued, registered, and
filed
3, 568
Requisitions answered
1, 019

SUMMABY.STATEMENT ofthe WOBK ofthe OFFICE, as shoivn hy the BEPOBTS of
the various D I V I S I O N S and MISCELLANEOUS DESKS.
CUSTOMS DIVISION.
Comprising the accounts of Collectors of Customs for Receipts of Customs Revenue and Disbursements for
the Expenses of Collecting the same, and also including Accounts of Collectors for Receipts and Disbursements in co7inection with the Revenue-Gutter, Steamboat, Fines, Light-House, and Marine-Hospital Serv
ices, with Accounts for Official Emoluments, Debentures, Refunds of Duties, Sales of Old Materials, and
Miscellaneous Disbursements.

Amount.

$220. 357, 057 96
13, 085,141 82

Receipts
Disbursements
Total...

233, 442,199 78

JUDICIARY DIVISION.
Comprising the Accounts of District Attorneys, Marshals, Clerks, and Commisioners, Rents, and Miscel
laneous Gourt Accounts.

2^

.

® a

Disbursements

5,581

Amount.

$3, 913, 974 87

PUBLIC DEBT DIVISION.
Public Debt Division, comprising all Accounts for Payment of Interest on the Public Debt, both registered
Stock and Coupon Bonds, Interest on District of Golumbia Bonds, Facific Railroad Bonds, Louisville
and Portland Canal Bonds, Navy Pension Fund, Redemption of tfnited States and District of Columbia Bonds, Redemption of Coin and Gurrency Certificates, Old Notes and Bounty Scrip, and Accounte
for Notes and Fractional Currency Destroyed.

ts

Amount.

•is
Interest accounts
. ...
Redemption accounts . . . . . . . .
Total




...
..
...........
*

...........
..........

155
141

$68. 859, 590 69
212,102, 092 04

296

280, 961,682 73

294

REPORT ON T H E

FINANCES.

WAREHOUSE AND BOND DIVISION.
STATEMENT of TRANSACTIONS .in BONDED MERCHANDISE, as shown by ACCOUNTS
A D J U S T E D during the fiscal year eliding June 30, 1882.

Number of accounts adjusted
.:
1,155
Number of reports of '^ No transactions" received, examined, and
referred
:
526
Balance of duties on mercbandise in warebouse per last report
|22, 635, 319
Duties on mercbandise wareboused
:
58,954, 624
Duties on mercbandise rewareboused
,-..
1,506,284
Duties on mercbandise constructively wareboused
28,681, 561
Increased and additional duties, &c
1,523,348
Total

44
04
65
64
51

113,301,138 28

Contra:
Duties on mercbandise witbdrawn for consumption
Duties on mercliandise witbdrawn for traDSX)ortation
Duties on mercbandise witbdrawn for exportation
Allowances for deficiencies, damage, &c
Duties on witbdrawals for construction aud repair of vessels
Duties on bonds delivered to disi rict attorneys for prosecution
Balance of duties on mercbandise in warebouse

|64,869, 899
4, 565, 048
27, 092,954
2,284, 882
180, 437
"^ 2,488
^
14, 305, 427

Total

40
16
44
72
81
07
68

113,301,138 28

MISCELLANEOUS DESKS.
No. 1.—Comprising Accounts of Disbursing Clerks of the Departments for Salaries, Salary A ccounts of the
various Assistant Treasurers, andof the Congressional Library, Ptiblic Printer, and Executive Office,
Accounts for Salaries ofthe Officers and Employes, House of Representatives, and the Accounts relating
to the Goast Survey.

Amount.

418

Disbursements

$7, 292, 272 31

No. 2.—Gomvrising the Accounts of the Disbursing Clerks of the Departments for^ Contingent Expenses,
Contingent Expenses of the House of Representatives and Assistant Treasurers, Accounts of the Bureau
of Engraving and Printing, Geological Survey, National Board of Health, Reform, School, New Building
for State, War, and Navy Departmeiits, and a very great Number of Miscellaneous Accounts. The accounts on this desk during the last fiscal year covered two hundred and one diff'erent appropriations.

Amount.

Receipts
Disbursements

12
1,117

Total . . -




•

$5, 391 09
4, 926, 418 93

1,129

i.

4, 931, 810 02

295

FIEST AUDITOE.

No. ^.—Comprising Accounts for Construction of Custom-Houses, Post-Offices, Court-Houses, and other
Public Buildings; Accounts of Light-House Engineers and Inspectors; Accounts ofthe Public Printer ;
Steamboat Inspection and Life-Saving Service; the Accounts of the Government Hospital for the Insane,
Columbia Hospital for Deaf and Dumb, and many Charitable Institutions.

c o
a

Receipts
Disbursements

.

Total

Amount.

33
2,790
2,823

$1, 067, 676 07
8,194, 051 31
9, 261, 727 38

No. 4.—Comprising the Account ofthe Treasurer of the United 'States for General Expenditures; the Sal
ary and Mileage Accounts for the Senate and House of Representatives, and the Accounts for Contingent
Expenses of the United States Senate.

Amount.

Receipts
Disbursements

$604, 560, 683 14
556,870,691 14.
1,161, 431, 374 28

Total....

No. 5.—Comprising the Accounts of Mintsand Assay Offices,- Salaries of the Civil List paid directly from
the Treasury on First Auditor^s Certificates, Captured and Abandoned Projierty Accounts ; Accounts
for the Legislative and Contingent Expenses of the United States Territories and Transportation of
United States Securities.

Aniount.

$147, 666, 663 13
146, 805, 275 25

Receipts
Disbursements
Total....

294,471, 938 38
No. Q.—Comprising the Accounts ofthe District of Columhia.

^1
as
Disbursements

465

Amount.

$1, 941,114 39

No. 7.—Under the Chief of the Warehouse and Bond Division, and Comprising Judgments of the Oourt
of Claiins, Outstanding Liabilities, Postal Requisitions, Transfer of Appropriations, .d^c.

Amount,

Disbursements .

$1, 650,185 00

The foregoing exhibits and enumeration of the various accounts which
have been examined during the year and the balances certified as by law



296

REPORT ON THE FINANCES.

provided, show a further increase of clerical labor required over that
shown in my report for fiscal year ended June 30,1881, and this clearly
indicates the necessity for an increase in the number of clerks assigned
to this bureau.
In view of the fact that the official work of this office gradually increased for twenty years, as was shown in detail in official report of
1880, and the further fact that this increase of labor continued during
the fiscal years 1881 and 1882, the necessity for greater clerical force is
more clearly demonstrated.
The work for the fiscal year is unprecedented in the history of the
bureau.
The increased number of appropriations for erection of public buildings and for miscellaneous purposes indicates l a r ^ r requirements upon
the office for the fiscal.year ending June 30, 1883.
For the foregoing reasons, and for reasons stated more fully in my
last report, I respectfully and earnestly ask for an additional chief of
division and for at least three clerks of class three.
While I well know that one additional cler'k beyond the necessities of
the public service in any bureau or office is an injury to the service as
well as a needless expenditure of the public moneys, I am convinced
that the increase now "asked grows out of a necessity pressing upon this
office; and I would be derelict in duty should I not call attention to the
condition of the work demanding additional clerical force.
In closing this report, I desire to commend the deputy auditor and
the chiefs of divisions, through whose diligence, energy, and care the
increased Avork of this bureau has been so promptly dispatched during
the fiscal year.
I wish to renew to them and to the clerks and employ6s of this office
expressions of esteem and confidence.
I am, most respectfullv, your obedient servant,
E. M. EEYISROLDS,
First Auditor,




REPORT OF THE SECOND AUDITOR.




297




REPORT
THE SECOND AUDITOR OF THE TREASURY.
TREASURY DEPARTMENT,
SECOND AUDITOR'S O F F I C E ,

Washington, Octoher 11, 1882.
S I R : In compliance with your request of the Cth ultimo, I have the
honor to submit my report for the fiscal year ending June 30, 1882,
showing the work performed during that period and the condition of the
public business intrusted to my charge at the close of the year.
BOOKKEEPERS' DIVISION.

The following statement of amounts drawn from and repaid to the
War Department appropriations on the books of this office, is furnished
pursuant to the act of March 3,1817 (section 283 of the Eevised Statutes),
which requires that the auditors charged with the examination of the
accounts of the Deparment of War shall annually report to the Secretary of the Treasury the application of the money appropriated for that
Department. To this statement are added the drafts and repayments
on account of the appropriations for the Indian service, without which
the record of the financial transactions of the office would be incomplete.
Appropriations.

Repayments.

Drafts.

Under immediate control of the Secretary of War.
Artillery scbool at Fortress Monroe, Va
Contingencies of tbe Array
Expenses of railitary convicts
Publication of official records of tbe war of tbe rebellion.

$5,
26,
6,
69,

007
768
415
496

70
50
80
25

$7 70
203 83

2, 500 00

35

2, 428 75
3, 000 00

623 43
82 10
20 66
3, 949 27

6 25

Under control of the Commanding General.
Expenses of tbe Commanding General s office
Under control of the Adjutant-General.
Collecting, drilling, and organizing volunteers
Contingencies ofthe Adiutant-General's Department
Draft and substitute fund
Expenses of recruiting

97, 920 10

Under control of the Quartermaster-General.
Clothing, camp and garrison equipage

109 31

4, 529 14

Under control ofthe Surgeon-General.
Appliances for disabled soldiers ..
Artificial limbs
Medical and bospital departraent..
Medical museura and library
,
Trusses for disabled soldiers.




1,000 00
118, 883 89
229,115 86
10, 000 00
10,000 00

22, 641 72
14, 377 67

299

300

REPORT ON, THE FINANCES.
Appropriations.

Drafts..

Repayments.

Under control ofthe Paymaster-General.
Bounty under tbe act of July 28,1866
Bounty to volunteers aud their widows and legal heirs
Bounty to the Fifteenth and Sixteenth Missouri Cavalry —
Collection and payment of bounty, &c., to colored soldiei-s and seamen.
Extra pay to oilicers and men wlio served in the war with Mexico —
General expenses
Mileage
Pay, (fee, of the Army
Pay of the Military Academy
Pay of two and th'ree year volunteers.
Pay of volunteers (Mexican war).
Raising four additioual regiments

$65, 087 00
152, 421 32
99, { O 00
/
O
3. 595 02
120 00
516, 000 00
220, 088 96
11, 766, 592 16
176,134 70
73, 295 99
87 50

$1, 668 50
1, 202 75

13, 027 27
1,701 57
311,492 60
4, 240 58
5, 327 72
16 04
1 17

Under control ofthe Ohief of Ordnance.
Armament of fortifications
Arming and equipping the militia
'.
Allowance for reduction of wages under the eight-hour law.
Benicia arsenal, Cal
:
Examinations of heavy ordnance and projectiles
Manufacture of arms at national armories
.'
Ordnance service
Ordnance, ordnance stores and supplies
'
Ordnance material, proceeds of sales
Powder and projectiles (act March 3,1881)
Powder depot
Repairs of arsenals
Rock Island arsenal'.
Rock Island bridge
San Antonio arsenal
"
Springfield arsenal
Testing machine
Washington arsenal
Wharf at Sandy Hook, New Jersey

294, 645 92
168,181 59
10, 500
10, 365
300, 000
110, 000
310, 012
91, 687
30, 200
50, 000
40, 000
227, 000
9, 600

00
55
00
00
00
00
56
00
00
00
00

14, 000 00
15, 000 00
10, 000 00

624 23
19, 590 77
10 00

10 79
146 46
1 729 42
,
05
50

15 00
15 35

5, 000 00

Miscellaneous. •
Relief of Lewis A. Kent and H. B. Eastman
Support of National Home for disabled volunteer soldiers.
Supportof the Soldiers' Home
Total drafts and repayments (War Department) ,

511 74
950, 000 00
76,142 70

3, 524 39
71 50

16, 377, 915 87

435, 858 78

Appropriations for the Indian service.
Buildings at agencies and repairs...
Civilization fund (14 Statutes, 688)
Contingencies of the Indian Department
Expenses of Board of Indian Commissioners
Expenses of. Ute Commission
Fulfilling treaties with Indian tribes
Fulfilling treaties with Indian tribes (proceeds of lands)
Gratuities and iiayments to Ute Indians
Incidental expenses of the Indian service
Interest on Indian trust funds, «fec
Pay of Indian agents
Pay of Indian inspectors
Pay of Indi an police
Pay of interpreters
Payment of indemnity to Poncas
Payment to Flatheads
Payment to North Carolina Cherokees
Payment to Osages for ceded lands
Relief of Frank "D. Yates and others
Removal and support of Otoes and Missourias
Removal and support of confedeiated bands of Utes
Reservoir at headwaters of the Mississippi River
Sh awnee fun d
Support of schools, &c
Support of various Indian tribes aud bands
Telegraphing and purchase of Indian supplies
Transportation of Indian supplies
Traveling expenses of Indian inspectors
Vaccination of Indians
Miscellaneous items
Total drafts and repayments (Indian Department).




20, 188
125, 036
33, 093
1, 355
4, 947
894, 478
3, 322, 279
11, 999
177, 309
630, 184
92, 087
14, 932
• 72, 323
25, 182
72, 664
5, 000
3, 816
236, 083
14, 675
38, 180
84, 524
15, 466
• 4, 885
121, 894
3, 635, 446
36, 701
260, 816
5, 978
1, 410
1, 789

08
40
58
00
78
55
91
99
86
98
92
20
07
79
46
00
20
88
85
10
78
90
62
95
69
11
07
02
10
28

9, 964, 734 12

2,611 94
30,188 99
14, 046 94
405 61
510 99
17,345 73
6, 565 31
2, 966 66
14, 018 00
11,895 38
2, 599 15
263 91
1, 350 94
1, 393 94
19 69
841 91
1,163 61
19, 371 95
5, 603 44
83, 917 61
1, 242 19
8, 516 45
655 05
1 00
840 33
228, 336 72

SECOND

301

AUDITOR.

GENEBAL BALANCE S H E E T of APPBOPBIATIONS.
War.

Indian.

DEBIT.

To araount withdrawn frora the Treasury, July 1,1881, to June 30,1882. $16, 377, 915 87
• 5,173 62
To araount of transfer warrants issued to adjust appropriations
481, 981 37
To aggregate amountof balances remaining to the credit of all appro1, 478, 536 60
priatioiis on the books of tbis office June 30 1882
..
.........

$9, 964, 734 12
371, 565 82
244, 590 88

18, 343, 607 46

22, 084, 460 54

1,155, 295 24
435, 858 78
39, 435 22
16,713,018 22

9, 707, 893 76
228, 336 72
148, 826 22
11,999,403 84

18, 343, 607 46

22, 084, 460 54

Total

11, 503, 569 72

CREDIT.

By
By
By
By

balances to the credit of all appropriations, July 1,1881
araount of repayments durin<'' the year
.
araount of counter warrants issued to adjust appropriations
amount of appropriation warrants issued during the year

...

Total

The balance of $11,503,569.72 remaining to the credit of Indian ap.propriations, is made up as follows:
Indian trust funds deposited in the Treasury in lieu of investment under
the act of April 1, 1880'..
$8,740,859 14
Proceeds of Indian lands on deposit in the Treasury
. 1,248, 241 83
Annual and permanent appropriations
1,514, 468 75
Total....

11,503,569 72

The amount of appropriation warrants issued on account of the Indian
service consists of the Ibllowing items:
Appropriations for the fiscal year 1882
Intereston investments, net proceeds of lands, &c
Amonnt received from sales of lands
Appropriations to supply urgent deficiencies
Amount received from redemption of bonds, &c
Appropriated by special act of relief
Total.......

$4, 625,343
500,134
575,006
579, 000
5,705,243
14, 675

-

80
49
48
00
22
85

11,999,403 84

Thefollowing is a summary of the work performed in the bookkeepers^ division, incidental to keeping the accounts of the office:
Eequisitions registered, journalized, and posted, 4,960; settlements
recorded, journalized, and posted, 4,197 ; settlements made in the division chiefly to adjust and close accounts, 4285 statements of balances, &c.,
furnished to settling clerivs, 1,257 5 certificates of deposit listed and indexed, 1,078; repay requisitions prepared for the War and Interior Departaieiits, 505; appropriation warrants recorded and posted, 45 ; official bonds of disbursinj^' officers entered, 52; certificates of non-indebtedness issued in cases of officers, 416 ; and enlisted men, 913 ; letters written, 584 ; amount drawn from the Treasury on settlements made in this
division, $264,811.28.
PAYMASTEES' DIVISION.
Pa;y masters'
accounts.

Received during the year
Total
A.udited aud reported to the Second Comptroller
On hand not exarained June 30,1882




...
...

..

Longevity
claims.'

312
588

1,120

900
398

1 120
37

502

1 083

302

REPORT ON THE FINANCES,

The amount involved in 398 disbursing accounts, 37 claims, and 339
miscellaneous settlements was $10,938,144.98, as follows:
Amount disbursed by paymasters
$10,674,983 91
Amount paid to officers of the United States Army under the decision
of the Snpreme Court in the matter of computing *' longevity" p a y .
15,538 68
Amount paid to tbe Soldiers' Home
"^
81, 877 81
Amount transferred to the books of the Third Auditor's office on account of—
Tobacco sold to soldiers
106,271 53
Stoppages for subsistence stores, &c
33, .429 29
Cbarges on account of overpayments
9,920 48
Amount of overpayments refunded
:
4, 495 79
Suudry cbarges and credits
11, 627 49
Total

10,938,144 98

The service records of 233 officers have been re-examined to determine
their pay status under the acts of June 13, 1878, and February 24,
1881.
The record of deposits by and repayment of deposits to enlisted men
of the Eegular Army, under the act of May 15, 1872, shows that 8,558
deposits were made, amounting to $480,150.69, and that 6,673 deposits,
amounting to $399,032.32 were repaid to soldiers on their discharge from
the service. During the four years that this record has been kept the
deposits have aggregated $1,762,280.24, and the repayments, inclusive
of interest, $1,127,293.73.
Letters received, 1,216; letters written, 2,776.
MISCELLANEOUS DIVISION.

Unsettled accounts on hand July 1, 1881
514
Received during tbe year from the Secretary of War, the Adjutant-General,
Surgeon-General, and Cbief of Ordnance
1, 869
Total
Accounts settled duriug tbe year

oo

2,383
1, 889

e
Remaining on hand June 30, 1882

494

The amount of disbursements allowed in the settlement of accounts
was $3,937,981.30, under the following axipropriations:
Arming and equipi)ing tbe militia, armament of fortifications, manufacture of anus at national armories, ordnance, ordnance stores and
sux:)plies, ordnance service and otber appropriations of, tbe Ordnance
Department
!.......
$1,755,179
Medical and bospital department, artificial limbs, medical museum and
library, and other appropriations ofthe Medical Department
455, 895
Regular and volunteer recruiting, claims for repayment of local bounty,
accounts for payment ol arrears of pay and bounty to colored soldiers,
&c
369,163
Contingencii'S of tbe Army, expenses of military convicts, publication
of Official Records of tbe War of tbe Rebellion, contingencies of tbe Adjutant-General's Department, artillery scbool at Fortress Monroe, expenijes ol Couimanding General's office, &c
112, 384
Support of National Home for Disabled Volunteer Soldiers
1,245, 358
Total.

65
10
54

41
60

3,937,981 30

The work of compiling the pay record of officers of the Eegular Army
and volunteer force has progressed rapidly, 109,611 payments having
been entered during the year. Incidentally twenty-seven double payments to volunteer soldiers were discovered and reported for collection.
A comprehensive index to this voluminous record has been completed
and has xiroved of great assistance to the many clerks whose work
necessitates coustant reference to it. Letters written, 2,755.



303

SECOND AUDITOR.
INDIAN

DIVISION.

The work done in this division is shown by the following statement:
Money Property
accounts. accounts. Claims.
On hand July 1,1881
Keceived duilug the year
Total
Settled durin ^ the year

^

24
958

. . .

982
797

. . . .

On hand June 30,1882

60
3,0C9

185

...

331
558
889
513
376

103

3 129
3,026

The amount disbursed was $6,154,440.83, as follows:
Expended by ludian agents and other disbursing officers, and allowed
by tbis office
$1,813,752 12
Amount paid by Treasury drafts in settlement of 3,026 claims of contractors aud otbers for supplies and services . . 4, 340, 688 71
Total disbursements

6,154,440 83

Sixty-three transcrixits of Indian agents' accounts have been forwarded to the Second Gomptroller for transmittal to the Department of
Justice in order that suits may be entered against the agents and their
sureties. The balances declared to be due the United States in these
sixty three cases amount to more than $1,000,000, and consist to a
great extent of itenis disallowed by the accounting officers for reasons
not necessarily incompatible with the personal integrity of the agents
to be sued.
During last year the sum of $6,783.06 was recovered by suit and
otherwise in full settlement of the accounts of certain agents no longer
in commission. Letters written, 4,834.
PAY AND BOUNTY

DIVISION.

This division is charged with the settlement of all claims for bounty
and arrears of pay, except such claims as are filed by officers of the
Army, still in service, for increased longevity allowance under the recent decision of the United States Supreme Court—these claims h a v i n g
been assigned to the Paymasters' Division. As will be seen by t h e
subjoined tabular statements, fair xirogress has been made in t h e examination and settlement of claims during the past year:
Examining Branch.

Classes of c l a i m s .

a?

White soldiers.
C o m m i s s i o n e d officers
E n l i s t e d m e n , s u h s e q u e n t t o A p r i l , 1861—arrears of
p a y a n d all b o u n t i e s
C l a i m s for p a y p r i o r t o A p r i l , 1861
C l a i m s of A r m y l a u n d r e s s e s , s u t l e r s , t a i l o r s , &c —

1, 357

1, 023

23, 940
• 177
53

8,160
216
40

2, 005

178
2, 328
38
29

•, 867
123

2,243
5

19, 662
227
55

Colored soldiers.
A r r e a r s of p a y a n d h o u n t y
Total




6,153

3,230

864

1,342

31, 680

12, 669

3,434

9,519

7,091
2,356

304

REPORT ON T H E

FINANCES.

Settling Branch.

1

-3

1

li

Classes of claims.

11
03 O

05

CO.-I
CO

o

.a
o

3

o

o «

s^ •

.2

r
1

^Oco

Sfl

JO

a
5

OQ

g
Q

White soldiers.
Commissioned officers .
. ... ...
Enhsted men, subsequent to April, 1861—arrears of I 950
pay and all bounties
^
Claims for pay prior to April, 1861
Claims of Army laundresses sutlers tailors, &c . . .

2,521

c2, 466

38
29

38
29

.45

75

885

Colored soldiers.
•117

Total

846

838

10

21

94

1,067

Arrears of pay and hounty

3,434

3,371

55

96

979

The claims settled and allowed averaged a fraction more than
$132.68 each, the total amount being $447,267.10. The claims disallowed amounted to upward of one million dollars. Letters written,
78,114.
DIVISION FOR THE INVESTIGATION OF FRAUD.

On July 1, 1881, 7,823 cases remained on hand; 380 new cases have
been received during the year, making a total of 8,203 before the division.
Of these, 6,135 were examined and partially investigated; 1,317 were
finally disposed of, and 6,886 remain on hand for further action. The
cases not disposed of are as follows:
Unsettled claims:
Wbite soldiers
Colored soldiers

432
1,584

...:..

2,016
Settled claims:
Wbite soldiers
Colored soldiers..

:

4,513
357

Double payments to officers
Total

734
3,779

:

6,886

The sum of $4,311.66 has been recovered by suit and otherwise, and
deposited in the Treasury; judgments amounting to $2,002.46 have been
obtained, but are not yet satisfied; $1,242.20 has been secured to claimants from persons unlawfully withholding it, and $226 has been returned
to the Treasury by the Pay Dexiartment in cases of colored soldiers.
Abstracts of material facts have been made in 478 cases; 40 cases
were prexiared for suit and criminal prosecution and transmitted to the
Department of Justice, and 5,655 letters were written.
I would again invite attention to a matter that has been referred to
in half a dozen annual reports, namely: The necessity for some act on
on the part of Congress looking to an adjustment of the claims of those
colored soldiers who allege that they were defrauded out of their arrears
of pay and bounty by the subordinate agents of the late Freedmen's
Bureau.



305

SECOND AUDITOR.
PROPERTY DIVISION.

The work of this division is now confined to the examination and settlement of the quarterly returns of clothing, camp and garrison equipage, rendered by all officers of the Army who are responsible for that
description of property. These returns, by which upward of one million dollars worth of property is accounted for annually, are not examined by any other accounting officer, so that the action of this office
is final.
On July 1, 1881, 6,241 returns were on hand unsettled; 3,569 have
since been received; 4,652 have been examined, and 4,132 have been
settled, leaving 5,678 on hand June 30, 1882. Charges amounting, to
$4,178.84 have been made against officers for proxierty not satisfactorily
accounted for, and $1,235.81 has been collected on that account. Letters
written, 2,419; letters recorded, 906.
DIVISION OF INQUIRIES AND REPLIES.

In addition to the 12,937 inquiries from various bureaus which have
been answered during the year, as shown by the subjoined statement,
the following miscellaneous work was performed in this division: 412
rolls and vouchers copied and verified; 3,097 accounts-current, affidavits, abstracts, certificates of disability, final statements, furloughs,
general orders, letters, statements of differences, &c., copied for the
office; 13,790 descriptive lists briefed and filed; 3,557 signatures compared, and 4,131 letters written.
Overpayments amounting to $8,696.50 have been discovered and reported for collection, and the sum of $968.82 on account of overpayments previously reported has been recovered and repaid to the appropriations from which the money was drawn.
Office making inquiry.

On hand
J u l y 1,1881.

Received.

Answered.

Total

2,786
67
93
818
203
3

4,962
272
1,796
1,073
627
751

7,324
328
1,885
1,866
783
751

3,970

Adj utant-G-en eral
Quartermaster-G-eneral —
Comraissary-Oeneral
Commissioner of Pensions
Tbird Auditor
:
Miscella.neous

9,481

On band
June 30,1882.

12, 937

424
11
4
25
47

DIVISION OF CORRESPONDENCE AND RECORD.

Letters received, 23,069; letters written, 18,990; letters referred to
other offices, 598; letters recorded and indexed, 1,040; letters returned
uncalled for, 354; claims received, briefed, and registered, 16,213;
miscellaneous voiichers received, stamped, and distributed, 7^,081; letters containing additional evidence to perfect suspended claims briefed
and registered, 13,371; pay and bounty certificates examined, registered and mailed, 4,236; pay and bounty certificates examined, registered
and sent to the Pay Department, 3,859; reports calling for requisitions sent
to the Secretary of War, 465; miscellaneous cases disposed of,. 5,869,..
ARCHIVES DIVISION.

The increased and much-needed accommodation provided for the filea
of the office, to which reference was made in last year's^^report^ias beeki
20 F



306

REPORT ON THE FINANCES.

taken advantage of to as great an extent as possible. Between three
and four million muster and pay rolls and other important and valuable vouchers have been placed in permanent boxes and rearranged with
a view, first, to their preservation; secondly, to facility of reference; and
thirdly, to economy in space. Incidental to this work it was necessary
to examine and verify 1,820,285 vouchers; to stencil 7,331 file-boxes
with the number, date, &c., of the settlements, and to brief 6,268 boxes,
so as to clearly indicate the character of the vouchers therein contained.
The regular business of the division is shown by the following statement:
Paymasters' accounts received from tbe Pay Department
Con.firmed settleraents received from tbe Second Comptroller, entered, indexed, and filed : Paymasters', 107 ; Indian, 2,393; miscellaneous, 1,017
Miscellaneous accounts witbdrawn for reference and returned to tbe files..
Voucbers withdrawn from tbe files for use in tbe settlement of accounts and
claims and for repairs
Voucbers returned to
files
^
Voucbers briefed
Mutilated and worn voucbers repaired and retured to tbe
files
Number of pages copied
Letters written

519
3,517
1,768
29,657
43,958
60,237
15,090
2,797
319

RECAPITULATION.
Number of accounts and claims of all Mnds on band J u l y 1, 1881, including 5,81.2 renewed applications for arrears of pay and b o u n t y . . .
Number of accounts and claims received during tbe year

.40,229
24,400

Total
Number disposed of, including rejected and referred claims for pay and
bounty

64,629
26,189

Number of accounts and claims on band June 30, 1882

38,440

Amount drawn out of tbe Treasury in payment of claims and in advances to disbursing officers
,
$26,342,649 99
Less repayments of unexpended balances, &c
664,195 50
Net amount paid out
Total number of letters written
Average number of clerks employed

.25,678,454 49
.-.,.

120,580
145

PROCEEDS OF INDIAN L A B O R . .

For several years past questions have arisen from time to time, in the
settlement of Indian agents' accounts, as to the proper disposition of
moneys derived from the product of Indian labor, pasturage on Indian
lands, &c. In June, 1876, the matter was referred to the First Comptroller (Hon, E. W. Tajder), who said: " In my opinion, receipts for the
product of labor of Indians and for use and occupancy of their lands
are not public moneys, within the meaning of section 3,618 of the Revised
Statutes, which are to be covered into the Treasury as miscellaneous
receipts. If such moneys should be covered into the Treasury they cannot be withdrawn except on appropriations made by law. While it is
probable such moneys may, under the direction of the Department of
the Interior, be expended for the benefit of the Indians, I am not aware
of any law which provides for it. If the Secretary of the Interior should
deem it proper, I think Congress would direct the mode of expenditure.o'^ Th-e Secretary of the Treasury concurred in this view and recoin


SECOND AUDITOR.

307

mended to the Secretary of the Interior that Congress be requested to
authorize the deposit of such funds to the credit of an appropriation for
the benefit of the particular tribe or band of Indians entitled thereto.
On October 18, 1876, the Secretary of the Interior wrote as follows to
the Commissioner of Indian Aifairs : '^ The money may be expended
under your x'>^rsonal direction, but, as a rule, when the 'm(mey is received for the sale of produce, the result of the labor of any individual
Indian, it should be expended for his sole benefit, and if of any consid-.
erable number less than a band it should be expended for their benefit,
so that in all cases the Indian shall receive the benetit of his or her personal industry." In 18s0 the Second Comptroller and Second Auditor
agreed that in the settlement of Indian agents' accounts all such
moneys should be charged and credited under the special caption of
^^ Indian moneys—x^^^c^'<^<^s ofla.bor, &c."
There can be no d(mbt as to the justice and equity of treating these
moneys in the manner indicated above, but it needs -the authority of
law, and to that end I suggest that the subject be brought to the attention of Congress.
MILEAGE OF ARMY OFFIOERS.

Under section 1273 of the Eevised Statutes, as amended by the act
of July 26, 1876 (19 Stat., 100), officers of the Army traveling under
orders, Avithout troops, are allowed eight cents per mile, provided they
have not been furnished with transportation in kind by" the United
States. I suggest that the law be further amended so that mileage
sliall not be allowed when an officer travels on a free pass. Officers o
the Treasury and Interior Departments, and I presume of all other Executive Dexiartments who present accounts for traveling expenses, are required to make affidavit that '' no x>art of the travel has been under any
free pass on any railway, steamboat, or other conveyance." It is neither
just nor reasonable that officers of the Army should be paid eight cents
per mile while traveling on free passes. In such cases they should be
placed on equality with thecivil officers of the Uriited States, and should
be reimbursed to the extent of their actual and necessary expenses,
and no more. In analogy to what is demanded, under oath, from
Treasury and Interior Department officials. Army officers should be
required to certify on honor that charges for traveling expenses were
actually xiaid or incurred, and that no part of the travel for which thej'claim mileage was made on a free pass on any railway, steamboat, or
other conveyance.
»

THE SOLDIERS' HOME.

By section 4818 of the Eevised Statutes all forfeitures on account of
desertion and all moneys belonging to the estates of deceased soldiers,
reniaining unclaimed for three years subsequent to the death of such
soldiers, are set apart and appropriated ibr the support of the Soldiers'
Home. I find that twenty-one years' arrearages are due said Home on
account of moneys forfeited by those deserters from the regular Army
who were never heard of after desertion. With a few trifling exceptions the accounts of such deserters have not been settled. When the
men were dropped from the rolls of the Army such data as were necessary to an adjustment of their pay accounts were entered on the musterrolls, and there the matter ended. There is also a large sum due the
Home on accountof unclaimed money belonging to the estates of soldiers



308

REPORT ON THE FINANCES.

who died prior to July 1, 1879. The aggregate amount payable to the
Home from these two sources is estimated at uxiward of one million dollars. It is clearly the duty of the accounting officers of the Treasury
Dexiartment to adjust and settle the accounts of deceased soldiers and
deserters so that the Home may receive what the law has set apart and
apxiropriated for its support, but the necessary clerical force is lacking.
I estimate that it would take six experienced clerks five years in this
office, and a proportionate number for the same period in the Second
ComxitroUer's Office, to bring the work uxi to date.
Ill view of all the circumstances, and considering especially the length
of time that the Soldiers' Home has been deprived of a portion of its
legitimate income, I venture to suggest a plan by which an equitable
settlement between, the United States and the Home can be arrived at
without the exxiense and delay of examining and adjusting the xiay accounts of deceased*soldiers and deserters, namely: That Congress shall
appropriate a reasonable amount, say one million dollars, to be dexiosited in the Treasury in accordance with the xirovisions of section 8 of
Senate bill No. 1821, prescribing regulations for the Soldiers' Home,
and now pending in. Congress; said amount to be accepted by the Home
in full discharge of all obligations on the xiart of the United States,
under section 4818 of the Eevised Statutes, u p to and including June
30, 1879.
A STATUTE OF LIMITATION NEEDED.

Adverting t o t h e reniarks in my last annual report in regard to a
statute of limitation, I again invite attention to the subject as one that
calls for early and favorable consideration. There exists a continually
increasing necessity for such a law. It is required, not that the xiayment
of just debts may be evaded, but that the public treasury may be protected from unscrupulous claimants and from the vexatious demands of
persons who, having received all they are entitled to, make new apxilications in the liox)e, apxiarently, that something in their favor may " turn
.UX3" on a re-examination of their claims, or that the evidence of former
payment may not have been xireserved. Of the claims growing out of
the waT of the rebellion only a small xiercentage of those last presented
possess either merit or validity, and that percentage is diminishing with.
the lapse of time, while the labor of examination and investigation is
materially increasing. A statute of limitation that would bar and xireclude from settlement all claims growing out of the late war not inasented vvithin two years frbm the date of the enactment, and all other
claims not presented within six years from the time they accrued would,
I believe, be regarded with favor by all the accounting officers of the
Treasury Department. Without such a statute no child n6w living will
ever see the day when the xiresentation for payment by the government
of claims of the class first mentioned will have ceased.
CONDITION OF T H E PUBLIC BUSINESS.

The condition of the public business intrusted to my charge is shown
by the following comparative statement of accounts and claims received,
disposed of, and remaining on hand in the fiscal years 1881 and 1882:




309

SECOND AUl'viTOE.
FISCAL YEAR

D e s c r i p t i o n of a c c o u n t s , &c.

1881.

FISCAL YEAR

N u m b e r of a c c o u n t s a n d c l a i m s .
Received.

D i s p o s e d of.

On h a n d ,
J u n e 30.

1882.

N u m b e r of a c c o u n t s a n d c l a i m s .
R e c e i v e d . D i s p o s e d of.

On h a n d , <
J u n e 30.

D i s b u r s i n g accounts.
A r m y pcaymasters
K e c r a i t i i i g , medical, ordnance, and miscellaneous..
Indian agents

601

419

"312

588

398

502

1,732
847

1, 664
1,166

514
24

1,869
958

1,889
797

494
185

Total disbursingaccounts

3,180

3, 249

850

3,415

3,084

1,181

Claims.
A r r e a r s of p a y a n d b o u n t y . .
Indian

8,682
3,052

9,110
3,140

32, 747
. ' 60

13, 789
3, 069

15,434
3,026

31,102
103

11, 734

12, 250

32, 807

16, 8 ^

18.460 1

31,205

3,649
354

4,969
372

6,241
331

3, 569
558

T o t a l clairas
P r o p e r t y accounts.
Clothing, camp and garrison
eo u i p a g e
Indian
Total property accounts.
Acsrenate

4,003

5, 341

6, 572

4,127

'^IS, 917

20, 840

40 229

^'i ^.on

4,132
513

4,645 1
26 189

5, 678
376

6,054
38 MO

.
•
It will be seen by the foregoing statement that, as compared with last
year's record, there was an increase of 5,483 in the number of accounts
and claims received, and of 5,349 in the number disposed of; and a de^
crease of 1,789 in the number on hand. While the business of the office
is thus shown to be in a satisfactory condition in the aggregate, the
state of disbursing accounts calls for some exx3lanation. The repruiting,
medical, ordnance, and miscellaneous disbursing accounts are promptly
rendered to this office and are settled with sufficient dispatch to prevent
accumulation. The accounts of Indian agents have temxiorarily accumulated, there being 185 on hand June 30, 1882, against 24 on hand
June 30, 1881. This increase is accounted for by the fact that an unusually large number was received from the Indian. Office too late to be
taken uxi for settlement before the close of the fiscal year. The accounts
of paymasters have unavoidably accumulated since June 30, 1880, on
which date only .130 remained unexamined. On June 30,1881, the number had increased to 312, and on June 30, 1882, it had still further increased to 502. This increase is due to two causes, namely, the insuffi:
cient clerical force of the xiaymasters' division, and the complex nature
of the accounts, which now consist, not only of the ordinary bi-monthly
muster and pay-rolls of companies and detachments, final payments to
discharged soldiers, and monthly pay accounts of commissioned officers,
but also of mileage accounts and vouchers for telegrams, expenses of
witnesses before courts-martial, &c. The proper examination of mileage
and telegram accounts adds very materially to the work of the auditing
clerks. The delay in the settlement of paymasters' accounts now averages two years, so that a paymaster does not know how he stands officially onthe books of the Treasury Department until two years after he
has rendered his accounts, neither does the Treasury Department know
until after the same lapse of time whether the paymaster has properly
accounted for the large sums of money advanced to him for disbursement. The law requires that ^' the Secretary of the Treasury shall
cause all accounts of the expenditure of public money to be settled
within each fiscal year" (sectiori 250 Eevised Statutes), and it would
seem to be due to the paymaster and the sureties on his official bond as



310

REPORT ON THE FINANCES.

well as to the United States, that some measure should be adopted which
will enable the accounting officers to settle these accounts within the
time prescribed by the statutes. The following case is given as a fair
sample of the delay that occurs in the three offices through which an
Army paymaster's accounts pass after leaving his hands:
. STATEMENT showing DELAY in SETTLING a PAYMASTEP'S ACCOUNTS.
Eeceived in the Pay- Received in the
master-General's
Second Auditor's
office.
othce.

Date of accounts.

July and Aug., 1879.
Sept. and Oct., 1879
Nov. and Dec, 1879.
January, ] 880
February, 1880
March, 1880
April, 1880
May aud June, 1880.

November 7,1879 . . .
November 17,1879 ..
January 13,1880
February 16,1880 . . .
March 15,1880
May 11,1880
May 15, 1880
July 14,1880

Remarks.

March 12,1880 .. 1 Examined in Second Auditor's office and
March 25,1880 ..
seut to Second Coraptroller for revisJune 14,1880.... I ion, April 27,1881. Revised in Second
July 3,1880
Comptroller's office and returned to
Second Auditor to be stated, October
July 27,1880 . . . .
12, 1881. Stated by Second Auditor
August 25,1880
November 10, 1881. Certiiied by SecAugust 25,1880 .
October 2,1880 .. J ond Comptroller, Januar3'-13,1882.

The average delay in each office was asfollows: Paymaster-General's
office, 3§ months; Second Auditor's office, lOf months; Second Comptroller's office, 7J months.
The comparatively slight progress that has been made toward clearing
off accumulated work is chiefly attributable lxi the rexieated demands
upon this office for clerks to assist in other bureaus of the Department.
Emergencies will continue to arise when the power given to the head of
a Department by section 166 of the Eevised Statutes to alter the distribution of the clerks allowed by law and detail clerks credited to one
bureau for service in another must be exercised. At one time, in con.sequence of an unusual amount of labor suddenly imposed upon the
Loan Division and Eegister's office, no less than sixteen clerks on the
pay-rolls of this office were detailed for work elsewhere. At the present
time five are so absent, and the average for the last fiscal year was at
least five. All these were experienced and efficient clerks, for sucli are
always asked for, and none others taken or received.
While the clerical force was nominally the same, 5,349 more accounts
and claims were disposed of than during the preceding year, and the number unsettled diminished by 1,789. The additional work of ^YQ efficient
and experienced clerks would have largely increased these figures. ]^o
bureau of the department needs more than this the entire force accorded
to it bylaw. Of the 38,440 unsettled accounts and claims^ a very large xiroportion has been pending more than five years. It is not surprising, then,
that claimants become importunate and not unfrequently abusive in
their correspondence. They are entitled to a settlement, and it is extremely difficult to give a satisfactory reason for the delay. At the
present time, so far as I am aware, there is no extraordinary demand
upon any of the bureaus of the Treasury Department, and if more clerical
force is needed it should be supplied by legislation. The business of
this office is pressing. It has never to my knowledge had any assistance
from other bureaus; certainly not without according an equivalent by
an exchange, and it is fairly entitled to its legal complement of clerks.
The facts herein set forth as lo the work performed during the year
are sufficiently indicative of the faithfulness and efficiency of the clerical force of the bureau.
Yery respectfully,
O. F E E E I S S , Audiior,
The

Hon.

S E C R E T A R Y OF T H E T R E A S U R Y .




REPORT OF THE THIRD AUDITOR.




311




REPORT
OF

THE THIRD AUDITOR OF THE TREASURY.
TREASURY DEPARTMENT,
THIRD AUDITOR'S OFFICE,

Washington, D. C, Octoher 30, 1882,
S I R : I have the honor to transmit herewith report of the operations
of this office for the fiscal year ended June 30, 1882. The following
statement shows, in tabular form, the number and amount of accounts
and claims remaining on hand unsettled at the close of the last fiscal
year, the number received and audited, and the number and amount of
accounts and claims remaining unsettled June 30, 1882, viz:
B E P O B T of BUSINESS TBANSACTED in the fiscal year ended June 30, 1882.

J •^'00

D oo

9. C
S

J MCO

Z

rl

Number of accounts settled in fiscal year ended
June 30, 1882.

Number of accounts unsettled June 30, 1882.

Description of accounts.

^
Monthly Monthly Monthly
and quar- and quar- and quarterly.
terly.
terly.
Quartermasters' money.
Quartermasters' property...
Commissaries' money
Pension agents' money
Engineers' money
Signal officers' money
Signal officers' property
Clairas for horses lost
Claims for stearaboats destroyed '.
Oregon war claims
Miscellaneous claims
-.
State war claims
Total

Amount involved.

Monthly
and quarterly.

422
1,079
532
253
58
68
. 191
4,791

2,991
3,192
1,924
455
192
118
866
454

2,650
3,488
1,494
416
219

71
688
13, 299
13

3,614
1

3,398
4

50, 000 00
5, 321 82
2, 780, 365 08
514, 320 42

70
690
13, 515
10

21,465

13, 846

12,150

65,475, 074 33

23,161

2
441

$12, 517, 962 77
3, 796, 079 34
37, 528, 064 66
8, 221, 812 41
61,147 83

763
783
962
292
31
186
1,055
4,804

Amomit involved.
$1,972,292 64
1, 230,191 51
50, 472, 491 48
4, 826, 589 08
664,964 13

672, 903
6,047
9,312, 165
4, 345,020

87
25
13
12

74, 371,178 29

BOOKKEEPER'S DIVISION.

The duty devolving upon this division is to keep the appropriation
and money accounts of disbursing officers, which are settled in this
office.
,
>
^

.




313

^

314

REPORT ON T H E

FINANCES.

The annexed statement shows the amount drawn out of certain of its
appropriation accounts, and also the repayments made through this
office into the Treasury, and is a full exhibit of its financial operations
during the fiscal year:
STATEMENT showing the FINANCIAL OPEBATIONS of the OFFICE during the
fiscal year ended June 30, 1882.
fl ^ S .

u ci
fl o

OQ 0 = W j ^
P-I fl <D 03

o

^ «e

Total.

CM bOfl p

O fl b C ^

S =* p5 g;^
ee m-ri •^

_2 O'd o
Numher of requisitions drawn by the
Secretaries of War and Interior on the
Secretary of the Treasury in favor of
sundry persons, 3,661, amounting to
$90,937,569.46, paid in the manner herein set forth and out of the following
appropriations, viz:
Regular supplies, Quartermaster's Department:
Incidental expenses, Quartermasters Department
Barraclfs and quarters, Quartermaster's Department
Army transportation, Quartermaster's De. partment
Army transportation (Pacific raihoads)..
National cemeteries
Pay of superintendents of national cemeteries
Clothing, camp and garrison equipage
Observation and report of storms
Signal Service
,
Observation and exploration in Arctic Seas...
Construction, maintenance, and repair of
military telegraph liues
Constructing .i^tties, &c., at South Pass,
Mississippi River
Construction and repairs of hospitals
Headstones for graves of soldiers in private
cemeteries
Cavalry and artillery horses
Fifty per centum of arrears of Army transportation due certain land-grant railroads..
Surveys and reconnaissances in military divisions and departraents
Kinggold Barracks
Buildings for miilitary headquarters at Port
Snelling, Minn
'.
Buildings for military headquarters at San
Antonio. Tex
"
Macadamized road fi'om Vicksburg to the
national ceraetery, Mississippi
Road from Chattanooga to the national cemetery, Tennessee
Military road near the Musselshell Biver,
Montana
Road from Fort Scott to the national cemetery, Elansas
Military post near northern boundary of
Montana
Carriage-way from New Market street to the
Dnited States military depot, Jefi'ersonville, Ind
Buildings for military quarters at Fort Leavenworth, Kans
Transportation and distribution of rations
and supplies to the sufferers by overflow of
Mississippi River
Claims for quartermasters' stores, &c., act
July 4, 1864
Claims for loyal citizens, &c . . '
Awards for quartermasters' stores taken by
the Army in Tennessee
Payment to the city of Port Huron proceeds
of sale of part of Fort Gratiot Military
Reservation
Capture of Jefferson Davis
i
Sundry engineer appropriations.




o

$3, 599,251 10

$18, 799 62

$249 22

982, 065 93

17, 246 13

60 34

999, 372 40

877, 813 78

15, 391 83

145 96

893, 351 57

4,105, 476 15

238, 265 30
811, 054 23

828 16
18 05

4, 344, 569 61
811, 072 28
100, 552 03

100, 552 03
57, 918
1, 239,025
375, 040
10; 500
25, 000

65
28
53
00
00

$3, 618, 299 94

58, 085 65
1, 243,493 93
375, 040 53
10, 500 00
25, 000 00

167 00
4,425 02

75, 042 25

75, 042 25
175, 000 00
76, 348 95

175, 000 00
76, 348 95
40, 000 00
202, 674 74

37 50

40, 000 00
203, 091 47

379 23
.

178,179 18

178,179 18

810 00
29 19

810 00
29 19

000 00

45, 000 00

000 00

64, 000 00

000 00

10, 000 00

000 00

5, 000 00

705 84

55,705 84

500 00

5, 500 00

000 00

45, 000 00

4, 000 00

4, 000 00

30, 000 00

30,000 00
15, 319 47

15, 319 47
276,777 54
255 00
667 40

11,881, 528 72

276, 777 54
255 00
667 40

19, 966 31
293 00
142 92

3,555 87

19, 966 31
293 0 ^
11, 885,227 51

THIRD

315

AUDITOR.

Subsistence of the Army
Support of militaiy prison at Fort Leavenworth , Xans
Lost horses, (fcc, act March 3, 1849
Rations for relief of persons rendered destitute by overflow of Mississippi River
Pensions of the Army
Support of Bureau of Refugees, Freedmen,
(fcc
Total

.

.

T r a n s f e r s involving no expenditure from,
the Treasury.

Advances to officers and agents
during the fiscal year.

STATEMENT sJmving the FINANCIAL OPEBATIONS of the OFFICE, # c . - -Continued.
fl o

fl

^

• e

$36,143 83

$28 50 $2, 427, 062 33

565 00

62, 461 17
565 00

4,175 66

$2, 390, 890 00

349, 958 88
62, 406, 430 66

62, 461 17
349, 958 88
62,402, 255 00

540 37
89,134,167 66

Total.

1, 797, 552 47

540 37

5, 849 33 90, 937, 569 46

The nuraber of credit and counter requisitions drawn by the Secretaries of War and Interior on
sundry persons in favor of the Treasurer of the United States is 1,522, on which repayments into the
Treasury have been made through the Third Auditor's Otfice during the fiscal year'ended June 30,
1882, as follows:
Deposits
•
$2, 239, 586 97
Tiansfer accounts
164,530 54
. Total

2,404,117 51
QUARTERMASTERS' DIVISION.

The accounts of quartermasters cover a wide range of money and
property responsibility. The former embraces disbursements for barracks and quarters, hospitals, storehouses, offices, stables, and transportation of Army supplies, the pur(^.hase of Army clothing, camp and
garrison equipage, cavalry and artillery horses, fuel, forage, straw, material for bedding, and stationery; payment of hired men and of '^per
diem" to extra duty men; expenses incurred in the pursuit and apprehension of deserters; for the burial of officers and soldiers, for hired
escorts, expresses, interi)reters, spies, and guides; for veterinary surgeons and medicines for horses, for supplying posts with water, and for
all other proper and authorized outlays connected with the movements
and operations of the Army not expressly assigned to any other department. Property purchased with the funds of the Quartermaster's Department is accounted for upon '^returns" transmitted through the
Quartermaster-General to this office (with the exception of '' returns of
clothing, camp and garrison equipage," which come under the supervision of the Second Auditor), showing that the disposition made of it
is in accordance with law and Army regulations.
B E P O B T of the QUABTEBMASTEB'S D I V I S I O N for the fiscal year mded June 30,
1882.
Money accounts.
Property
returns.
Number.
On hand per last report
Received during the fiscal vear
Total
Reported during the fiscal year
Reraaining unsettled
Total




Supplemental settlements.
Money.

Amount.

Amount.

422
2, 991

$2, 554, 626 96
11, 935, 628 45

1,079
3,192

261 $106, 242' 73

3,413

14,490, 255 41

4,271

261

106,242 73

2,650
763

12, 517, 962 77
1, 972, 292 64

3,488
783

261

106, 242 73

3,413

14, 490, 255 41

4,271

261

106, 242 73

316

REPORT ON THE FINANCES.
BEPOBT of the QUABTEBMA-STEWS DIVISION, ^^c—Contmued.
Total.

Signal accounts.
Property. Money.

Ambunt.

$182, 969 93
481, 994 22

1,760 $2, 737, 596 89
7, 428 12, 523, 865 40

186

664, 964 15

9,188. 15, 261, 462 29

2
1, 055

186

664, 964 15

6,401 12, 624, 205 50
2, 787 2, 637, 256 79

1, 057

. .

68
118

1,057

Total

Total

Number.

191
866

On hand per last report
Received during the fiscal year

Reported during the fiscal year .
Remaining unsettled

Amount.

186

664,964.15

9,188

15, 261, 46^ 29

]^umber of letters written, 4,463; number of clerks employed, 19;
number of vouchers'examined, 249,005; number of pages of manuscript
written, 6,539.
SUBSISTENCE DIVISION.

The subsistence division examines the accounts of all commissaries
and acting commissaries in the Army, whose duties are to purchase the
provisions and stores necessary for its subsistence, and see to their proper
distribution. These commissaries render monthly money accounts, with
proper vouchers for disbursements of the funds intrusted to them, together with a provision-return, showing the disposition of provisions
and stores purchased or derived from other sources. These accounts
are received through the Commissary-General of Subsistence, and are
examined and audited in this division. The money accounts and vouchers, together with a certified statement of the result of said examinations, are then referred to the Second Comptroller of the Treasury for
revision. Upon their return from the Comptroller, with the settlement
approved, the officers are notified of the result, and called upon to adjust
or explain any omissions or errors that may have been discovered. The.
money and provision accounts, together with the papers belonging;^
thereto, are then^placed in the settled files for future reference, and remain permanently in the custody of this office. The engineer branch is
engaged in the examination of the accounts of officers and agents of the
Engineer Department, who, under the direction of the Chief of Engineers of the Army (except the Superintendent of the Military Academy
at West Point, whose disbursements are directed by the Inspector-General), disburse moneys out of the various appropriations, now 248 in
number, made from time to time by Congress for works of a public nature, which m a y b e classed under the following heads, viz: The purchase of sites and materials for and construction and repairs of the
various fortifications throughout the United States; construction and
repairs of roads, bridges, bridge-trains, &c., for armies in the field; surveys on the Atlantic and Pacific coasts; examination and surveys of
the northern and western lakes and rivers; construction and repairs of
breakwaters; repairs and improvement of harbors, both on sea and lake
coasts; improvement of rivers, and purchase of snag and dredge boats
for the same; and the expenses of the Military Academy at West Point.




THIRD

317

AUDITOR.

The transactions of the subsistence and engineer branches for the
fiscal year are shown by the following statement, viz:
Subsistence accounts.
Number.

Engineer accounts.
Nuraber.

Araount.

On h a n d p e r l a s t r e p o r t J u n e 30,1881
R e c e i v e d d u r i n g t h e fiscal y e a r

532
1,924

$1, 221. 500 58
3, 804, 770 27

Total...-.
R e p o r t e d d u r i n g t h e fiscal y e a r

2, 456
1, 494

5, 026, 270 85
3, 796, 079. 34

962

1, 230,191 51

R e m a i n i n g on h a n d J u n e 30 1882

..

58
192

Amount.
$3, 354, 209 90
9, 694, 191 59

250 1 13, 048; 401 49
219
8,221,812 41
31

4, 826, 589 08

Iiumber of vouchers examined, 158,538; number of letters written,
2,018; number of difierences written, 1,015; number of calls answered,
956; number of clerks employed, 9.
CLAIMS DIVISION.

This division has the settlement of claims of a miscellaneous character arising in the various branches of service in the War Department,
and growing out of the purchase or appropriation of supplies and stores
for the Army; the purchase, hire, or appropriation of water craft, railroad stock, horses., wagons, and other means of transportation; the transportation contracts ofthe Army; the occupation of real estate for camps,
barracks, hospitals, fortifications, &c.; the hire of emploj^es, mileage,
courts-martial fees, traveling expenses, commutations, &c.; claims for
compensation for vessels, railroad cars, engines, &c., lost in the military
service; claims growing out of the Oregon and Washington war of 1855
and 1856 and other Indian wars; claims of various descriptions under
special acts of Congress, and clainis not otherwise assigned for adjudication.
MISCELLANEO US CLAIMS for fiscal year 1881-'82.

•

M i s c e l l a n e o u s clairas.
Number.

Amount
claimed.

On h a n d J u n e 30 1881
Received during the year

13, 299
3,614

a$8, 889, 432 05
&3,203, 098 16

Total
Disj)osed of d a r i n g t h e y e a r

10, 913
3,398

12, 092, 530 21
c2, 780, 365 08

O n h a n d J u n e 30 1882

13, 515

Araount
allowed.

(«9, 312,165 13

$2, 041, 775 98

a This is the amount claimed in 11,644 cases,the amount claimed in the other 1,655 cases notbeing stated.
& This is the amount claimed in 3,473 cases, the araount claimed in the other 141 cases not being stated.
c This is the amount claimed in 3,249 cases, the amount claimed in the other 149 cas es not being stated.
d This is the amount claimed in 11, 868 cases, the amount claimed in the other 1.647 cases notbeing stated.




318

REPORT ON THE FINANCES.
MISCELLANEOUS CLAIMS for fiscal year 1881-'82—Continued.
Oregon a n d W a s h i n g t o n Ind i a n w a r clairas, 1855-'56.

L o s t v e s s e l s , &c., u n d e r a c t
of M a r c h 3, 1849.

•

Nuraber.

Amount
claimed.

O n h a n d J a n e 30 1881
Received during the year

688
38

e$6, 398 52
/ 4 , 970 55

Total
D i s p o s e d of d u r i n g t h e y e a r

726
36

Number.

Amount
allowed.

Araount
allowed.

71 $722, 728 87
175 00
1
72
2

722, 903 87
50,000 00 $30,000 00

"O

11, 369 07
gb, 321 82 "$2,'706" 31

690 1 /ifi. 047 25

On h a n d J u n e 30,1882

Amount
claimed.

672, 903 87

'
e This
/This
.grThis
JiThis

is t h e a m o u n t claimed i n 322 cases, t h e a m o u n t clairaed i n t h e o t h e r 306 cases n o t
is t h e a m o u n t c l a i m e d i n 21 cases, t h e a m o u n t clairaed i u t h e o t h e r 17 cases n o t
is t h e a m o u n t c l a i m e d in 23 cases, t h e a r a o u n t clairaed i n t h e o t h e r 13 cases n o t
i s t h e a m o u n t c l a i m e d i u 320 cases, t h e a m o a n t c l a i m e d in t h e o t h e r 370 c a s e s n o t

beiug
being
being
being

stated.
stated.
stated.
stated .

Number of letters written during the year, 1,995.
STATE A N D H O R S E CLAIMS

DIVISION.*

The duties of this division embrace the settlement, under the various
acts and resolutions of Congress relating thereto, of all clairas of the
several States and Territories for the costs, charges, and expenses
I)ropeiiy incurred by them for enrolling, subsisting, clothing, supplying,
arming, equipping, paying, and transporting their troops, employed in
aiding to suppress the recent insurrection agaiust the United States,
and all claims arising out of Indian and other border invasions. Also
the settlement of claims for compensation for loss of horses and equipage sustained by officers or enlisted men while in the military service
of the United States, and for the loss of horses, mules, oxen, wagons,
sleighs, and harness, while in said service, by impressment or contra t.
Original account.

Suspended account.

s t a t e claims.
Numbor.

Amount.

Number.

Amouut.

On h a n d J u n e 30,1881
Received daring t h e year

4, 769, 358 87
89, 981 67

$4, 932, 597 50
6.^143 12

Total
....:....
R e p o r t e d d u r i n g t h e fiscal y e a r

4, 859, 340 54
514, 320 42

4, 994, 740 62
141, 8H8 20

O n h a n d J u n e 30,1882 . . . .

4, 345, 020 12

4, 852, 852 42

Original account.
H o r s e clairas.
Namber.

Amount.

On h a n d J u n e 30,1881
R e c e i v e d d u r i n g t h e fisoal y e a r
R e c o n s i d e r e d d u r i n g t h e fiscal y e a r .
Total
A l l o w e d d u r i n g t h e fiscal y e a r .
D i s a l l o w e d on c l a i m s
R e j e c t e d d a r i n g t h e fiscal y e a r .

Number.
4, 791
277
177
5, 245

419
'22'

;875, 341 17
42, 930 15
11, 389 59
929, 660 91

$52, 056 29
6, 443 48
2, 648 06

Total
D e d u c t as d i s p o s e d of.
O n h a n d J u n e - 3 0 , 1882.




Amount.

61,147 83
4, 804

868, 513 08

THIRD

319

AUDITOR.

Number of briefs, 416; number of claims examined and suspende,
1,535; number of letters received, 4,854; number of letters written,
5,523; number of clerks employed, 6.
ARMY PENSION

DIVISION.

The duties of this division embrace the settlement of all accounts
which pertain to thepayment of Army pensions throughout the United
States.
The following tables show the operations of the division during the
fiscal year:
Army pensions, 1879 and };)rior years :
Amount refundecl and deposited during the fiscal year
Army pensions 1880 :
Balance to credit of appropriation J u n e 30,1881
Amount refunded and deposited during the year

3,160 95
======z
769, 006 15
2,204 45

Total
:
Amount paid out on settlements during the year

771,210 60
1, 258 33

1

Balance to credit of appropriation June 30, 1882

769,952 27

Army.

P a y , &c.

$3,472 53
416, 536 92

$'4, 918 42
23, 749 38

$1, 665 00
12, 944 00

$10, 055 95
453, 230 30

420, 009 45
697 67

28, 667 80

14, 609 00

463, 286 25

14, 009 00

461, 588 58

A r m y p e n s i o n s , 1881.
B a l a n c e on h a n d J u n e 30,1881
Araount deposited during the year
Total
A m o u n t t r a n s f e r r e d t o N a v y p e n s i o n s J u n e 30,1881 .

1, 000 00

B a l a n c e t o c r e d i t of a p p r o p r i a t i o n J u n e 30, 1882. 419,311.78

27, 667 80

Array.

A r r e a r s of A r m y a n d N a v y p e n s i o n s .

Total.

Surgeons.

1,697 67

Pees.

Total.

A r a o u n t a p p r o p r i a t e d , ' a c t s J a n u a r y 29 a n d M a r c h 3,1879 . $25, 000, 000 00
A m o u n t a p i ) r o p r i a t e d , a c t M a y 31 1880
500, 000 00

$15, 000 00

$25, 015, 000 00
500 000 00

25, 500, 000 00

15, 000 00

25, 515, 000 00

4,019,527
19, 609, 885
667, 979
132, 702

33
78
05
65

1, 884 00
10, .535 10
446 70
92 40

4, 021, 411'33
19, 620, 390 88
668, 425 75
132, 795 05

24, 430, 094 81

12, 958 20

24, 443, 053 01

1, 069, 905 19

2, 041 80

1,071,946 99

Total
Araount
Amount
Amount
Araount

disbursed
disbursed
disbursed
disbursed

by
by
by
by

pension
pension
pension
pension

a g e n t s , 1879, ' A r m y ' •
a g e n t s , 1880, ' A r m y "
a g e n t s , 1881, ' A r m y "
a g e n t s , 1882, ' ' A r r a y "

Total

A r r a y p e n s i o n s , 1882.

Army.

P a y , &c.

Surgeons.

A m o u n t a p p r o p r i a t e d , a c t M a r c h 3, 1881
$48, 400, 000 00
16,000,000 00
A m o u n t a p p r o p r i a t e d , a c t M a y 25, 1882
A m o u n t t r a n s f e r r e d from N a v y
. .

$244, 000 00

$240, 000 00

2, 500 00

6, 000 00

$48, 884, 000 00
16, 000, 000 00
8 'ino (10

T o t a l ..
•...
A m o u n t t o c r e d i t of a p p r o p i i a t i o n u n d r a w n .

64, 400, 000 00
3, 582, 847 14

246, 500 00
917 61

246, 000 00
4, 931 00

64, 892, 500 00
3, 588, 695 75

A m o u n t d r a w n t o b e a c c o u n t e d for

60, 817,152 86

245, 582 39

241, 069 00

61 303 804 * i i
?=

A m o u n t disbursed b y pension agents
...
D n e x p e n d e d bain u c e s in h a n d s of p e n s i o n
a g e u t s , to b e d e p o s i t e d
A m o u n t p a i d on m i s c e l l a n e o u s s e t t l e m e n t - .

53,195, 489 40

234, 451 97

222, 995 87

53, 652, 937 24

7, 621, 645 46
18 00

11,130 42

18, 073 13

7,650,849 01
18 00

60,817,152 86

245, 582 39

241,069 00

61, 303, 804 25




Total.

320

REPORT ON T H E

FINANCES.

The folloAving table shows the number bf accounts received and audited during the fiscal year:
A r m y pensions.

Total.

A r r e a r s of p e n s i o n s .

No.

Total
A c c o u n t s reported to Second Comptroller
Accounts remaining unsettled J u n e
30 1882

No.

173
202

$37, 616, 697 11
50, 048, 294 34

80
201

$191, 973 41
133,-718 32

253
403

$37, 808, 670 52
50,182, 012 66

375

A c c o u n t s on h a n d , J u n e 30, 1881
A c c o u n t s received during t h e y e a r . .

Araount.

87, 664, 991 45

281

325, 691 73

656

87, 990, 683 18
37, 518,191 70

Amount.

No.

Amount.

37, 265, 332 73

194

252, 858 97

364

50, 399, 658 72

87

72, 832 76

292

50,472, 491 48

375

Total

170
205

87, 664, 991 45

281

325, 691 73 • 656

• 87, 990, 683 18

Pensioners recorded
.
27,142
Pensioners transferred
. 1,306
Pensioners'increased
'
9,923
Pensioners restored
.*
769
Certificates reissued^.
1,460
Changes noted
888
Correctionsraade'.
5,651
Arrears notifications recorded
12, 436
Pension vonchers examined
828,175
Payments entered
772,574
Pages of abstract added ..1
,
28,099
Pages of miscellaneous copied
^
'
4,825
Payments corrected
68
Surgeons' certificates copied
269
Vouchers withdrawn from files
4,633
Names and records copied
10,732
Letters received and registered
3,653
Letters written
3,662
Letters c o p i e d . . : . . . . :
„
2,911
Letters indexed
2,911
Pension checks verified before payment, 57, amounting to
1,478 45
Settlements for ''lost checks" made, 31, amounting to
2,728 73
Settlements for '' forged checks" made, 5, amounting to
„
$390 67
Settlements for transportation on account of artificial limbs, TO, amounting t o .
$138 35
Settlement for commutation on account of artificial limb, 1, amounting t o . .
|50 00
Settlement on account of stationery furnished pension agents, 1, amounting to
$323 80
SuiDplemental settlements in July, 1881, 4, amounting to
6,241 41

The following tabular stateinent exhibits the number of acconnts,
and amount involved, on hand and unsettled July 1, 1869, together
with those received and audited each fiscal year since:
Beceived.
Number.
On h a n d J u l y
HeceiA^ed and
Ueceived and
Keceived aud
Received and
Ueceived and
Beceived and
Beceived and
Beceived and
Beceived and
B e c e i v e d and
Beceived and
Beceived and
Beceived and

11, 1869
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d iiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal
a u d i t e d fiscal

year
year
year
vear
year
year
year
year
year
year
year
year
year

1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882

Total
Deduct amount audited
B a l a n c e on h a n d J u n e 30 1882




•
..

.

...

. ...

Amount.

637
714
930
684
711
864
798
741
834
538
256
547
449
455

$34, 811, 593
27, 743, 819
28, 513, 262
28,661,597
28, 756, 702
29, 708, 332
29, 572, 855
28, 348,161
27, 899, 359
33,194,149
26,123, 111
61, 010,132
50, 666, 841
50,191, 885

Audited.
Number.
83
29
44
26
92
26
54
99
30
18
04
95
54
62

9,158
8,866

485, 201, 805 76
434, 729, 314 28

292

50, 472,491 48

Amount.

631
789
900 .
795
786
619
1,150
952
715
281
277
555
416

$25,596,876
32, 813, 334
40, 000, 205
33, 926, 556
26, 431, 956
19, 888, 428
48, 433, 036
34, 067, 985
24,133, 591
25 765 870
31,169, 748
54, 973, 659
37, 528, 064

8,866

434, 729, 314 28.

39
28
68
19
71
52
92
43
52
58
01
39
66

AMOUNT DISBUBSED ly P E N S I O N AGENTS during the fiscal year ended June 30, 1882, as shoivn hy their ACCOUNTS-CUBBENT.
W a r of 1812.
to

state.

California
Do
Dist. Columbia..
Indiana
niinois
Iowa
Kansas
Kentucky
Maine
Massachusetts..
Michigau
Missouri
Do
New Hampshire
New York
Do
Ohio
Pennsylvania...
Do
Tennessee
Wisconsin

Agency.

San Prancisco .
.-..do:
Washington...
Indianapolis...
Chicago
D e s Moines
Topeka
Louisville
Augusta*
Boston
Detroit
Saint Louis
. . . dot
Concord
Syracuse
New York City
Columbus
Pittsburgh
Philadelphia ..
Knoxville
Milwaukee

Agent.

W m . H. P a y n e .
H e n r y Cox
Theop's Gaines.
F r e d . K n e f l e r ..
A d a C. S w e e t . .
Jacob Bich
N . A. A d a m s . . .
B . M. K e l l y . . . .
Selden C o n n o r .
D . W . Gooch . . .
Samuel Post ...
B u f as C a m p i o n
N. A. Adams ...
E . L. W h i t f o r d
T.L.Poole
C. B . C o s t e r . . .
A . T . VVikolf .
W . A . H e r r o n ..
H . G. Sickel . . .
D. T. B o y n t o n ..
E d . E e r g u s o n .,

Total
D e d u c t c r e d i t s on a c c o u n t of o v e r p a y m e n t s .
Total.




Invalids.

$25, 197 32
312. 896 99
2, 659, 760 29
3, 708, 310 32
4,151, 638 00
2, 632, 266 11
1, 570, 177 10
708, 017 46
504, 921 21
2, 487, 062 51
1, 687, 578 47
946, 644 60
345, 019 55
2, 033, 784 36
2, .511, 661 61
1, 568, 317 99
3, 511, 632 64
2, 048, 276 48
2,143, 305 50
1,135, 182 72
2,147, 741 03

Widows.

Minors.

Dependent
relatives.

$428 80
$3, 546
. 454 60
,
28, 628
,181 04
395, 063
418, 613 06101, 247 63
546, 056 67 123,006 59
265 09
228, 991 63; 39,
158, 023 05 56, 819 04
233, 902 59 39, 131 99
70, 462 22 10,
563, 964 52 -- 535 49
190, 699
928 82
81, 560
702 98
52, 008
262 99
302, 066
609 04
413, 251
639 72
418, 962
240 57
652, 599
059 35
289, 986
724
435, 6.50
039 16
507, 294
902 76
414 61
229, 932

Surgeons. Salary,
Survivors

$96 00
$96 00
10, 591 47 3, 000 00
251, 604 28 22, 337 62
294,141 50 16, 525 18
321, 566 15 20, 305 35
177, 742 25 10, 288 76
76, 372 95 6, 418 56
132,429 69 14, 792 89
156, 088 88 20, 238 .52
429, 223 88 35, 523 47
170,167 60 19, 781 99
39, 954 73 3, 956 80
18, 096 00 3, 549 37
417, 934 72 48, 937
544, 204 53 54,692 36
304, 010 93 25, 676 13
384, 200 60 37, 288 41
324, 977 85 13, 630 64
308, 267 89 11,816 81
146, 808 52 96,199 28
229, 427 60 13, 218 73

Widows.

Voucher
fees.

Continigent.

$52
$11 00 $333 33
$473 60
626
9, 929 85 1, 270 00 3, 666 67 $397 05
108, 535 43 11,842 •" 4, 000 00 10, 263 60 2,736
75, 607 88 18, 403 00 4, 000 00 9, 345 45
99
82,191 27 19, 999 80 4, 000 00 11, 893 05
867
41, 631 49 13, 372 00 4, 000 00 7, 245 30
700
36,143 28 10, 354 40 2, 000 00 3, 944 85 1,644
189
76, 998 33 4, 926 95 4, 000 00 2, 972 40
72, 815 33 3, 318 50 1, 611 11 2, 754 30
254
93
149, 957 25 14, 407 00 4, 000 00 10, 696 05
53, 292 12 10, 726 00 4, 000 00 5, 897 40 1,660
19, 335 13 2, 749 00 1, 533 33 1, 880 40 1,117
2. 998 00 466 66 1, 803 45 232
16, 715
161,729 40 11, 595 00 4, 000 00 8, 381 85 1,603
174, 337 38 14, 578 04 4,000 00 10, 610 40 1,439
106, 708 06 9,175 80i 4, 000 00 7,596 30 5,610
159, 076 83 21, 997 40 4, 000 00 13, 729 50,
973
62,150 95 13, 000 00 4, 000 00 7, 538 30i 1,434
71, 614 65 16,882 25 4, 000 00 9, 486 30; 1, 787
510, 869' 81 10, 492 90 4, 000 00 8,189 70
726
34, 093 90 10, 896 00 4, 000 00 6, 331 65
40

86;
11
64,
60
66

Total.

$30, 235
382,461
517, 324
646, 294
281, 524
155, 503
921, 897
217, 361
843,148
724, 463
176, 732
120, 435
446,152
3, 038, 642
3, 761, 415
2, 482, 298
4, 865,-557
2, 793, 720
3, 048, 850
2, 497, 666
2, 705, 096

22
61
76
00
18
20
92
50
42
56
16
50
80
14
04
81
71
04
27
56
46

38, 839, 392 26 221, 264 21
6,
4,
478, 274 85 2, 024, 207 63 995 8769, 611 10 140, 957 30 23, 891 87 53, 656. 781 86
222,
898, 278 75 737. 908 02
81 00
3, 844 62
1, 072 44
1, 010 88
1, 653 07
18 93
8 30|

w
I—(

d

u

H
O

38, 838, 319 82 220, 253 33 898,197 75 736, 254 95
222, 995 8769, 611 10 140, 949 00 23, 891 87 53, 652, 937 24
6,
4,
478, 274 85 2, 024,188 70
•^Agency e s t a b l i s h e d b y e x e c u t i v e o r d e r J a n u a r y 1, 1882.

t A g e n c y t r a n s f e r r e d t o T o p e k a , K a n s . , J a n u a r y 1, 1882.

OO

OO

AMOUNT of ' ' A B B E A B S of P E N S I O N S ' ' DISBUBSED during the fiscal year ended June 30, 1882, hy PENSION AGENTS.
State.

Agency.

California
D i s t r i c t of C o l u m b i a
ID diana
Illinois
Iowa
Kansas
Kentucky
Maine
Massachusetts
Michigan
Miis.sinTiH

Do
N e w Harapshire
New York
Do
Ohio
Pennsylvania
Do
Tennessee
W i s c o n sin

^

San Erancisco
Washington
Indianapolis .
Chicago
Des Moines
Topeka
Louisville
Augusta
Boston
Detroit
SaintLouis
do
Concord
Syracuse . .
N e w Y o r k City
Columhus
Pittsburgh
Philadelphia
Kuoxville
Milwankee

Total
D e d u c t c r e d i t s on a c c o u n t of o v e r p a y m e n t s
Total




Invalids.

Agent.
H e n r v Cox
A d a C Sweet
B M Kellv
Selden Connor
D. W . Gooch
Samuel Post
Bufus Campion
E. L. Whitford
T L Poole
C. B . Co.ster .
A . T . Wikoff
W. A. Herron
H . G Sickel
D. T. B o y n t o n
Ed. Ferguson

,

$803
7, 626
11, 284
8, 583
3, 504
3, 657
4,621
1, 769
4, 390
4, 763
2, 810
917
3, 329
3, 631
6, 838
9, 542
1,511
7, 021
3, 534
6, 850

90
09
45
87
94
06
31
12
63
26
20
60
29
63
43
83
27
82
67
78

Widows.

$4,139 06
780 87
• 2, 372 76
2, 909 87
562 40

V o u c h e r fees.
$0
6
6
9
1
5
3

1,729 35

3
3
3

2, 283 32
4, 560 94
2, 032 41
573 00
1,181 81
2. 088 27
• 6, 725 93
3, 056 05

3
7
7
5
4
6
5
7

827 2 1 '

60
60
90
00
80
40
00
60
00
00
30
60
90
20
20
70
50
90
70
50

to
to

Total.
$804
11,771
12 072
10, 965
3, 506
6, 572
5, 186
1, 769
5,220
4, 766
4, 542
918
5, 616
8,199
8, 878
10,121
2, 697
9, 116
10, 266
9, 914

50
75
22
63
74
33
71
72
84
26
85
20
51
77
04
53
58
99
30
33

96,993 35
113 44

35, 823 25
31

92 40

35, 822 94

92 40

H
O

132, 908 80
113 75

96, 879 7 1

o

132, 795 05

O
Ul

AMOUNT of UNEXPENDED BALANCES in. HANDS of P E N S I O N AGENTS, June 30, 1882.
Army pensions.
State.

Agency.

Army.
California
Distjict of Columbia.
Indiaua
Illinois
Iowa
Kentucky
Massachusetts
Kansas
Michigan
New Hampsh ire
New York
,
Do
Ohio
Pennsvlvania
Do
..-.
Tennessee
Wisconsin
Maine

Sau Francisco ..
Washington
Indianapolis
Chicago
Des Moines
Louisville
Boston
Topeka
Detroit
Concord
Syracuse
New York City.
Colurabus
Pittsburgh
Philadelphia
Knoxville
..
Milwaukee
Augusta

Arrears of pensions.

Agent.

Henry Cox
Theophilus Gaines.
Fred. Knefler.
Ada C. Sweet
Jacob Bich
B. M. Kelly
D . W . Gooch
N. A. i\daras
Samuel Post
E.L. Whitford
T. L.Poole
C B . Coster
A . T . Wikofif
,
A'V. A. Herron
H.G.Sickel
D. T. Boynton
Ed. Ferguson
Selden Connor

342 60
605. 542 07
190. 322 12
205, 398 37
286,,847 54
96, 105 59
401, 756 88
500, 393 43
568, 557 58
401, 938 50
217, 212 69
627, 623 01
791, 161 39
352,•252 37
758. 496 52
559, 748 64
697, 155 91
334, 790 25

Surgeons.

$217 00
1,157 17
118 00
20
1, 628 00
573 05
3, 593 00
60
1,274 00
1, 405 00
121 96
572 20
2,117 75
507 10
1, ]04 00
3, 681 50

Total

Pay, &c.

Arrears.

$27, 791 03 $9,196 10
606,699 24
17,371 66
190, 440 12 14, 218 58
206, 638 22 22, 971 38
290, 029 67 10, 605 54
97, 517 19 10, 704 61
406, 060 44 69, 890 41
501,155 .^
^6
8, 924 80
570,.273 99
5,779 63
403, 357 86 116, 660 56
217, 334 65
15,534 15
629, 952 93 18,450 87
791,460 63
6,411 15
352, 279 96
11,433 81
761,340 33
2, 808 92
562. 339 44 15,970 55
698, 605 61
3, 748 94
338, 851 58
13, 230 88

$1, 231 43
1, 239 65
1, 554 13
838 55
'710 56
761 53
442 41
14 36
, 757, 72
296 64
27 59
7-:6 06
,083 70
345 70
379 83

Voucher
fees.

Total.

$4 40
1 20
5 50
93 70
3 40
8 40
106 70
19 70
19 00
25 40
60
38 50
4 70
27 60
208 20
129 60
9 40
9 40

$9, 200 50
.17, 372 86
14, 224 08
23, 065 08
10, 608 94
10,713 01
69, 997 11
8, 944 50
•5, 798 63
116, 685 96
15, 534 75
18, 469 37
6, 415 85
11,461 41
3,017 12
16,300 15
3, 758 34
13, 240 28

695 40

374, 607 94

>
a
HH

Total
Duea.gents: F. Knefler, $465.35; T.L. Poole, $49.69; and C. B. Coster, $764.40.
Total

7, 021, 645 46 18, 073 13
7,621,645 46

18,073 13

12, 409 86 7,652,328 45
1, 279 44
1, 279 44

373, 912 54

o

7, 050, 849 01

The average number of clerks emploj^ed in the Pension uivision during the year, 40.




oo
to
oo

324

REPORT ON T H E
COLLECTION

FINANCES.

DIYISION.

STATEMENT of BUSINESS TBANSACTED ly the COLLECTION D I V I S I O N during the fiscal year ended Jane 30, 1882.

3
CD
CO

i

o

ft

"fcb

-+3

s
J u l y , 1881 Auo-ust 3881
S e p t e m b e r , . 3 881
O c t o b e r 1881.
N o v e m b e r , 1881
D e c e m b e r , 1881
J a n u a r y , 1882
F e b r u a r y , 1882
M a r o h , 1882
A p r i l 1882
M a y , 3882
J u n e , 1882

^

1,392

a

o

^.

<

bo
P

o •-•

o o 5

2
P C 1^

^
ca

W

720
576
582
6S3
114
1, 245
990
586
575
814

255
3'>8
23 2
367
354
334
313
344
336
259
235
273

3, 255
2 401
3, 318
6, 782
5,667
6,024
6, 303
6, 300
6, 582
4 536
5, 104
5, 552

133
117
25
85
348
9
80
102
137
156
96
3^0

8,077

3,410

61, 884

1,208

•

Total

03

-2
a

o

1

I

CO

9
u

•

286
360
252.
381
352
348
310
349
350
201
223
295
3,567

03 •

"O

ca U (^

e
o

1.

&-3

.

C

O

c3

p
22,
22,
14
20,
•24
20
18
14
21,
19,
20
16

437
455
048
036
774
268
662
9'^3
311
999
338
592

38
28
46
32
40
54
52
42
54
50
54
52

235 843

542

II
o 3

CD

CD

.

ft.2

§2
^=2

o
1

1
4

1

12

7

12

There have been added to the files during the year new settlements
as follows, viz: Miscellaneous claims, 3,505; raoney accounts of disbursing ofhcers of the Army, 1,463; accounts of agents for paying Army
pensions, 227; property returns of Army officers, 2,298; making a total
of 7,493. A portion of the old settlements have been rearranged and
relabeled, and a large number of mutilated abstracts have been repaired.
All the records a,re now systematically arranged, and the old rooms are
entirely filled. The room formerly occupied b}^ the Bureau of Engraving and Printing, and assigned to this office, is not yet half filled, and it
Avill suffice for at least three years. The records are in a'good state of
lircservation. Four clerks have been constantly employed in arranging and keeping the files in good condition.
There were eight lady copyists employed in this office during the year.
The number of pages copied and compared was as follows, viz: Miscellaneous xiapers, 17,780 pages; difference sheets, 1,480; letters, 5,575;
total, 23,835. The papers received for copying and registered, were:
Miscellaneous, 3,588; diff'erence sheets, 480; total, 4,068.
Under the provisions of section 886 of the Eevised Statutes, in cases
where suit is instituted to collect money due from pension agents, the
transcripts can be certified only by the Eegister of the Treasury,
Avho has nothing whatever to do either with the settlement of said account or the custody of the same after settlement, and who can have no
knowledge respecting the correctness of the transcript, except that
gained from the Third Auditor. The Third Auditor is also without authority to certify transcripts for suit against failing contractors and
other persons charged upon the books of his office. To remedy this
defect in the lavv I resiiectfully suggest that section ^%^ of the Eevised
Statutes ought to be so amended as to provide that upon the trial of a
suit against any person, on a contract with the United States, express
or implied, or against any person accountable for public money, or the
sureties of such person, a transcript from the books and proceedings of
the Auditor of the Treasury Department, charged with the examination and settlement of fhe account with such person or persons, certi


THIRD AUDITOR.

325

fied by the Auditor and authenticated under the seal of the Treasury
Department shall be admitted on the trial of such suit as evidence of
the balance due to the United States, and be entitled to the same degree
of credit which would be due to the original papers or records if produced and authenticated in court.
By the act of Oongress approved June 23, 1874, and the acj of Congress approved March 3, lb75, authority is given the Secretary of War
to pay the expenses of operating and keeping in repair the telegraph
lines constructed and operated by the War Dexiartment in Texas, ^ e w
Mexico, the Territory of Arizona, &c., out of any moneys received for
dispatches sent over said lines, and any balance remaining after the
payment of such expenses must be covered into the Treasury as a miscellaneous receipt. Under the construction xilaced by the accounting
officers upon the several acts niaking appropriations for the construction, maintenance, oxierating, and keeping in repair the several telegraph lines under the control of the War Department, all funds received
from ^the public for the transmission of private disxiatches (excepting
receixits from line extending from Bismarck, Dak., to Fort Ellis, Mont.)
may be used by the War Dexiartment as hereinbefore indicated, instead
of inaking deposit of the same in the Treasury, and said sums enter into
the gross amount disbursed by the Signal Bureau of the War Department during a given fiscal year, but do not constitute any portion of the
sums sxiecifically approxiriated by Congress in the usual manner, such
funds having never been in the Treasury, thereby showing an excess of
expenditures over amounts appropriated by Congress for that particular
service. Section 3617 Eevised Statutes, second edition, provides that
the gross amount of all moneys re<jeived from whatever source for the
use of the United States, excexit as otherwise x'>i*ovided in section 3618,
shall be paid by the officer or agent receiving the same, into the Treasury at as early a day as xiracticable, without any abatement or deduction on account of salary, fees, costs, charges, exxienses, or claim of any
description whatever. Eeceixits from these telegraxih lines are not embraced within the provisions of section 3618, and are not exceptions to
the general law bearing upon the subject.
I think it requires no argument to show the wisdom of a provision of
law which keexis the expenditure of the xmblic revenue entirely under
the control of Congress;' aud I am of opinion that a wise xiolicy dictates
that every dollar exxiended for the support of the government in all its
branches should be traced directly to the Treasury, and the authority
under which it was drawn therefrom. Inasmuch, therefore, as there
appears to be a conflict between section 3617 of the Eevised Statutes
and the acts recited, I would respectfully suggest the propriety of legislation requiring all moneys received for the transmission of private dispatches over any and all of the lines owued or operated by the general
government, to be deposited in the Treasury.
I respectfully renew my recommendation in regard to a statute of
limitation. Such statutes are no longer looked upon with disfavor by
courts or legislative bodies, and provisions of this kind respecting suits
between individuals are, I believe, nearly universal. That which is
everywhere conceded to be wise aud just as between citizens of a State
can but be considered fair and just as between the citizen and the State,
Few claims that are fair and honest fail of presentation within six years
from their origin, and the claim^int who waits longer, if laboring under
no legal disability, should be barred, in my ox3inion. One thing is certain, no one can be familiar with the business of this office for any period, however brief, without being thoroughly convinced that such a



326

REPORT ON THE FINANCES.

limitation would be' of great value as a protection to the xinblic Treasmy, would remove a great temptation from the viciously inclined, and
would give much needed relief to the Executive Dexiartments.
I take xileasure in bearing testimony to the general good character,
intelligence, and diligence ofthe xiersons employed in this bureau, and
commend them for the faithful manner in which they have discharged
their duties.
Eespectfully submitted.
E. W. KEIGHTLEY,
Auditor.
Hon.

C H A R L E S J. FOLCIER,




Secretary of the Treasury.

REPORT OF THE FOURTH AUDITOR.




327




REPORT
OF

THE FOURTH AUDITOR OF THE TREASURY.
TREASURY D E P A R T M E N T ,
F O U R T H AUDITOR'S O F F I C E ,

Washington, N'ovemher 1, 1882.
S I R : In accordance with the law requiring the Auditor charged with
the examination of the accounts of the Dexiartment of the 'N^LYJ to report
annually, on the first Monday in November, to the Secretary of the
Treasury, the application of the money appropriated for the Navy Dexiartment, I have the honor to submit the following tabular statements
for the fiscal year ending June' 30,1882, with such comments and explanations as they seem to require at my hands.
Disbursing officers in foreign waters, as authorized bylaw, make their
payments from a fund (which has been drawn from the Treasury under
a **general account of advances,") charging each particular payment to
its xiroper axixiropriation, subject to revision here. Monthly statements
of these exxienditures are made to this office. Many of them, of course,
are not received until weeks, in some cases months, after the close of
the fiscal year, but all were in when the table immediately following
was made up, and which is designed to exhibit the several appropriations made by Congress, and the exxienditures with which they are proxierly chargeable, as shown by the reports of the officers who have disbursed the money. Pay officers at home draw money under the respective heads of appropriation, keeping in hand sufficient sums to meet
current liabilities, and returning unavailable balances to the Treasury,
as required by laAV. Axiproxiriations with balances to their credit will
still be drawn upon to meet liabilities lawfully incurred during thefisoal
year. Payments of the latter character are shown in this table where
expenditures under appropriations for years prior to 1882 are mentioned.
I t will be observed that the aggregate payments during the year are a
little less than the aggregate of the axipropriations for 1882. Some
appropriations have been overexpended, some deficiencies have already
been made good by appropriations, while others remain for the future
consideration of Congress. A deficiency not made good by a subsequent
apxiropriation must fall at last upon the continuous appropriations—to
wit, Pay of the Navy and the Marine Corps. To the credit of these
appropriations there were standing at the beginning of the fiscal year:
Pay ofthe Navy, $1,747,521.73, and Pay ofthe Marine Corps,$798,7i2.25.
These sums have been added to their respective apxiropriations in the
following table, making the amounts available for the year for pay of
officers and men:



329

APPBOPBIATIONS and EXPENDITUBES of the UNITED STATES NAVY for thefiscalyear ending June 30, 1882.

oo

o
d 4^

PiTvJ

IP

Title of appropriation.

J§§

^ Ci

a
Pay of the Navy
Pay, miscellaueous
Contingent, Navy
Pay, Marine Corps
Contingent, Mariue Corps
Provisions, Marine Corps
Clothing, Mariue Corps
Puel, Marine Corps .^
Military stores, Mainne Corps
Transportation and recruiting. Marine Corps
Repairs of barracks, Marine Corps
Porage for horses. Marine Corps
Marine barracks, Washington, D. C
Marine barracks, Naval Academy
Pay, professors and others. Naval Academy
Pay, watchmen aud others, Naval Academy
Pay, mechanics aud others. Naval Academy
Pay, steam employes and others, Naval Academy .
Ee'pairs, Naval Academy
Heating and lighting. Naval Academy
Library, Naval Academy
Stationery, Naval Academy
Board of Visitors, Naval Academy
Chemistry, Naval Academy
Miscellaneous, Naval Academy
Stores, Naval Academy
Materials, Naval Academy
Armory, Naval Academy
Navigation and navigation supplies
Contingent, navigation
Civil establishment, navigation
Hydrographic work
Naval Observatory
Nautical Almanac




1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882
1882

! 826,171 73
,
486, 725 00
100,000 00
798, 712 25
25, 000 00
68,013 10
75, 659 00
18, 496 50
11, 286 50
7, 000 00
13, 000 00
750 00
1,.000 00
40, 000 00
54, 576 00
24, 455 00
16, 835 95
8, 577 50
24, 600 00
17,000 00
2, 000 00
2,000 00
2, 600 00
2, 500 00
34, 600 00
800 00
1, 000 00
25, 000 00
111, 000 00
2, 000 00
10, 417 25
49, 000 00
27,886 25
23, 500 00

•
^
a
<i
o

' 197,103
,
339, 962
99, 987
613, 261
25, 000
52, 610
75, 657
17, 986
11, 284
6,976
12, 999
750
1,000
40, 000
51, 900
24,455
16, 835
8,577
24, 600
17, 000
2,000
2,000
2,600
2, 500
34, 600
800
1,000
25, 000
99,131
1,964
10, 411
41, 623
27, 009
20, 277

O^P fcX;
t^ C P
J

P P!
O o

P

gco
P

S
-?-

w.
. 629, 067 75
,
146, 762 39
12 82
185, 450 96
15, 402 26
1 20
510 41
1 58
23 48
90

11, 868 42
• 35-63
6 16
7, 376 97
876 97
3, 222 07

p -'^

ii
1 771,135
,
374, 949
110, 616
590, 550
26, 672
50, 743
76, 958
17,135
10, 575
6,938
12, 258
745
990
40, 001
51, 796
24, 455
16, 835
8,146
22, 543
16,162
1,125
1,643
2,600
2, 280
34, 593
637
749
24, 999
103, 059
3,195
10, 285
44,175
26, 033
20, 200

.

P ftrtr-l

$10, 616 30

$16, 380 00

'"'i,'672'86

"2,566'00
" 19," 68i 66

o
w
O

H
W

a

1,195 55

2, 000 00

Ordnance and ordnance stores
Contiugent, ordnance
Civil establishment, ordnance
Torpedo Corps
Equipment of vessels '.
Contingent, equipment and recruiting
Civil establishment, equipment and recruitiug

1882
1882
1882
1882
1882
3882
: . \ . . 1882
1882
1882
1882
.-.. 1882
1882
1881
^ 1882
1882
1882
1882
1882
3882
1882
1882
1882
1882
1882
1882
1882

Headstones, Naval Cemetery, Philadelphia
P r e s e r v a t i o n of c e m e t e r i e s i n foreign c o u n t r i e s
Maintenance, yards and docks
Contingent, yards and docks
CivO. e s t a b l i s h m e n t , y a r d s a u d d o c k s .
Navy-yard, Boston, repairs rope w a l k
Navy-j'-ard, P o r t s m o u t h , N . H
Navy-yard, Norfolk, V a
N a v y - y a r d , M a r e I s l a n d , Cal
Navy-yard, Pensacola, F l a
Repairs ahd preservation at navy-yards
N a v a l A s y l u m , P h i l a d e l p b i a ...*.
Medical Department, medicine and surgery
N a v a l h o s p i t a l fund
Repairs, medicine and surgery
Contingent, medicine and surgery
Civil e s t a b l i s h m e n t , m e d i c i u e a n d surgerj^
Naval Laboratory, Washington
N a v a l h o s p i t a l fund
Provisions, N a v v
Contingent, provisions and clothing
Civil e s t a b l i s h m e n t , p r o v i s i o n s a n d c l o t h i n g
Construction and repair
Construction and repair
Civil establishment, construction and repair
Steam machinery
Steam machinery
Contingent, steam engineering
C i v i l e s t a b l i s h m e n t , s'team e n g i n e e r i n g
P a y , miscellaneous
Contingent, N a v y
Fuel, Marine Corps
Repairs, Naval Academy
Heating and lighting Naval Academy
Library, Naval Academy
B o a r d of V i s i t o r s , N a v a l A c a d e m y
Chemistry, Naval Academy
Navigation,and navigation supplies
Contingent,' navigation
Hydropraphic work
N a v a l ObserA^atory
Nautical Almanac




•.

'

.•

220,
3,
11,
45,
825,
55,
18,

000
500
886
000
000
000
251
445
3, 000
440,000
20,000
37, 906

00
00
25
00
00
00
75
00
00
00
00
25

180, 677
3, 498
11, 794,
33, 342
819,770
54,997
18, 251
88
222
427,710
15, 605
37, 906

1, 207
5, 000
5, 000
200, 000
75, 000
300,000
59, 813
45, 000
50, 000
30, 000
15, 000
40, 000
1, 500

25
00
00
00
00
00
00
00
00
00
00
00
00

5, 000
4,999
198, 606
41,269
279,589
47, 746
40, 208
48, 560
21, 838
12, 027
39, 644
1, 497

00
00
49
59
19
61
13
02
45
91
76
74

1882
1882
1882
, 1882
^ 1881
1882
1882
1882
1881
) 1882
1882
1882
1881
1881
, 1881
1881
1881
1881
1881
1881
1881
1881
1881
1881
1881

1, 200, 000
60, 000
12,411
1, 350, 000
19, 064

00
00
50
00
00

1, 037, 033
32, 456
12,411
1, 328, 767

77
37
50
17

162. 968 23
27, 543 63

19, 063 22.
40, 074 95
787, 301 64

78
30 80
12, 698 36

1, 527 80

315 64

1, 212 16

1,000 00
20, 038 00

1, 000 00
20, 038 00

40,105 75
800, 000 00

01
69
58
65
32
03
75
50
50
60
58
09

1,185 39

39, 322
1
91
11, 657
5, 229
2

99
31
67
35
68
97

356
2,777
12, 289
4, 394

50
50
40
42
16

21 86
1
1,393
3-3, 730
20,410
12, 066
4,79J
1, 439
8,161
2, 972
355
2

00
51
41
81
39
87
98
55
09
24
26

21, 232 83

187, 012 13
4, 532 43 """i,"632'43'
11, 707 78
33, 742 38
924, 278 06 99 278 06
5,154 14
60,1.54 14
18, 081 63
88 50
151 24
428, 262 81
15, 2 5 49
.9
37, 769 87
1, 271 10
3, 801 24
4, 999 00
196,521 99
39, 597 98
276, 717 89
48, 870 08
42,112 06
35, 782 59
21, 487 06
11, 037 57
39,154 99
606 93
.53, 097 58
1,194, 825 31
32, 948 13
12,152 89
1, 341, 349 55
19, 881 20
39, 841 82
793,435 20
• 2, 076 57
1,000 00
19, 937 94
27,392 53
2, 235 78
358 57
2, 082 72
337 35
379 84
70 24
228 32
1,746 05
14 99
5, 919 36
1,394 61
3, 842 70

'*"i,'566"66
12, 000 00

o
to

cl
O
I—(
H
O

OO

oo

IN:)

g:|<i

Title of appropriation.

Ordnance and ordnance stores
Contingent, ordnance
Toi'ped'b Corps
Equipment of vessels
Contingent, equipjuent and recruiting
Maintenance yards and docks
-Q
Contingent, yards and docks
Navy-yard, NewdLondon
Navy-yard, Pensacola, Pla
Navy-yard, Norfolk, Va
Repairs and preservation at navy-yards
Naval Asylum, Philadelphia
Medical Department, medicine and surgery.
Contingent, medicine and surgery
Repairs, medicine and surgery
Civil establishraent, medicine and surgery ..
Naval hospital fund
Provisions, Navy
Contingent, provisious and clothing
Steam machinery
Construction and repair
Pay, miscellaneous
Hydrographic work
Velocity qf light
Ordnance^and ordnance stores
Repairs aud i)reservation at navy-yards
Contingent, provisious and clothing
Maiutenauce yards and docks
Steani machinery
Provisions, Navy
Naval stations and coaling depots. Isthmus of Panama
Search for steamer Jeannette, ofthe Arctic exploring expedition .
Prize money
Provisions, Navy, 1878, and prior j'^ears '...
Digitized for Pay, Navy, prior to July 1, 1878
FRASER



OO
OO

APPBOPBIATIONS and E X P E N D I T U B E S of the UNITED STATES NAVY, ^c—Continued.

• ^ • ^

<1"
$16, 685 64
61 91
11. 906 35
45, 499 99
1, 299 76
9, 432 80
4.586 13
6, 527 55
50,154 42
30. 562 74
11,131 15
11, 776 95
4, 719 87
1, 272 07
10, 493 24
1, 205 00
4, 582 20
44,129 81

88:

880
880
.880
880
880
880
880
880
879
Mar.
1881

7, 675 49
54, 321 54
24, 033 00
9,744 91
5,165 00
951 74
2,580 97
838 25
5 00
665 67
655 29
20 70
200, 000 00

$200, 000 00

8,463 08

16, 210 28

3,071 67
5,466 70
177 60
359 52

O
H
O
H

w
t2j

o
QQ

Bounty for destiuction of enemies' vessels prior to July 1, 1878
Indemnitv for lost clothinsr nrior to Julv 1 1878
Relief of John H Riley of California
Construction aud lepair timber

. .

.

, ...

Indemnitv for lost clothiu"'

300 00
•
'

Bounty for destruction of «^nemies' vessels
Gratuity to machinists iu lieu of re-enlistments
...
Charts of the Paciiic coast of Mexico
Charts of Amazon and Madeira Rivers
Sale of small-arms .
...
Clothing, Navy
Small stores

$300 00

20, 000 00

20, 000 00

-....

Observation of the transit of Venus
Total




.

17,152, 581 66

14, 5.53, 666 90 2, 006,661 96

87
176
37
50
300
647

44
58
75
00
00
01)

20
3.39
4,715
21
20, (100
. 288
23
31.212
4, 565
1,475
30,295
351,998
82, 373
3,930
518

77
.52
n
43
00
67
50
00
90
00
03.
22
50
00
39

15, 195, 836 65 $120,249 95

j

. . .

hrj

o
$53, 981 00

w
;>
u
l-H

H
O

OO
OO

oo

334

E E P O R T ON T H E FINANCES.
EXCHANGE.

Bills of exchange were sold by the pay officers of the Departraent of
the ISTavy during the year to the amount of $1,767,723.75. Of this sum,
$1,355,137.71 was drawn on Messrs. Seligman Brothers, London, and
$412,586.04 on the Secretary of the Navy. The following tables show
these transactions in detail:
DBAFTS DBAWN on S E L I G M A N BBOTREB.S, NAVY AGENTS, L O J S L O N ,
ENGLAND.
Amount.

A capulco, Mexico
Alexandria, Egypt
Apea, Samoa ..".
Bordeaux, Frauce
Callao, Peru
Cape Town, A frica
Chefoo, China
Florence, Italy
Fun dial, Madeira
Genoa, Italy
G ibraltar, Spain
Gravesend, England
Hiogo, Japan
Hong-lvong, China
Iquique, Peru
liobe, Jai^au
Leghorn, Italy
Lima, Peru
London, England
Marseilles, Frauce
Montevideo, Uruguay
Nagasaki, Japan
Naples, Italy
Nice, Fi-ance
Paris, France
Pirteus, Greece
Plymouth, England
'.
Rio de Janeiro, Ri-azil
Sanrty Point, Patagonia
."..
Santa Anna, Curacoa, West Indies .
Shanghai, China
Singapore
Srayrna, Turkey
Stanley Port, Falkland Islands
Trieste, A ustria
Vali")araiso, Chili
West Cowes, Isle of Wight
Yokoharaa, Japan
Total

& s.
1,074 17
400 0
2, 200
1, OUO 0
3,883 10
9,500 0
1, UOO 0
5, 000 0
5,365 0
3,000 0
9, 033 11
800 0
2,000 0
10, 500 0
283 1
36, 368 9
2, 000 0
576
600
6,000
49, 000
5,500 0
7,000 0
63, 300 0
1,000 0
500 0
6,000 0
5,000
500
500
2, 000
1,000 0
2, 000 0
300 0
2,000 0
478 0
2,000 0
31, 800 0

Amount.

d.
10
0
0
0
0
0
0
0
0
0
0
0
0
3
9
0

0
0
0
0
0
0

0
0
0
0
0
0
0

;278,462 9 10

$5, 230 97
1,946 60
10, 706 30
4, 866 50
9,166 05
46,231 75
4, 866 50
24, 332 50
26,108 77
14, 599 50
43, 961 77
3, 893 20
9, 733 00
51,098 25
1, 377 52
176, 987 24
9,733 00
2, 803 10
2, 919 90
29,199 00
238, 458 50
26, 765 75
34, 065 50
308, 049 45
4, 866 50
2,433 25
29,399 00
24, 332 50
2, 433 25
2, 433 25
9, 733 00
4, 866 50
9, 733 00
1,459 95
. 9, 733 00
2, 326 19
9, 733 00
154, 754 70

Amount received.

Loss.

$5, 341 00
1, 951 23
10, 032 00
4, 873 25
8,927 69
46,129 55
4, 715 60
24,125 00
26, 002 77
14, 622 65
43, 854 02
3, 893 20
,9, 524 92
49, 893 19
1,377 52
169, 255 78
9, 669 30
2, 803 10
2, 919 90
29,173 48
236, 921 21
25.793 12
33, 934 22
306,817 91
4, 861 67
2,433 25
29,155 20
24,138 15
2, 433 25
2, 406 62
9,403 93
4, 702 68
9, 619 12
1,459 95
9, 669 30
2, 326 19
9, 720 83
150, 527 18

208 08
1, 205 06
Par
7, 731 46
63 70
Par
Par
28 40
1, 627 61
972 63
331 28
1, 231 54
4 83
Par
43 80
225 28
Par
26 63
. 329 07
163 82
113 88
Par
63 70
Par
12 17
4, 227 52

1, 355,137 71 1, 335,408 93

20, 014 90

$674 30
249
102
150
207
106

04
20
90
50
00

114 50

Par

DBAFTS D B A W N on the SECBETABY of the NAVY.
Amount.
Acapulco, Mexico
A spinwall. United States of Colombia
Beautbrt, South Carolina
Callao, Peru
Fayal, Azores
Lima, Peru
Mazatlan, Mexico
Panama, United States of Colorabia...
Santa Anna, Cura9oa., West Indies —
Santiago, Cape Verde Islands
Tahiti,"Society Islands
Valparaiso, Cbili
Victoria, British Columbia
,
Yokohama, Japan
Total




Amount
Received.

$16,183 57
11,500 00
40, 000 00
8, 000 00
2,500 00
69, 034 49
2, 678 58
67,837 13
6,700 00
110 00
3, 000 00
13, 562 27
15,500 00
156, 000 00

$16, 183
11, 450
850"
000
2, 500
68, 277
2, 678
66, 872
6, 700
100
3, 009
13, 562
1.5,403
153, 329

57
00
00
00
00
49
58
13
00
00
60
27
12
60

412, 586 04

407, 916 36

Loss.
Par.
$50
150
Par.
Par.
757
Par.
S
Par.
10

00
00
00

00

Par
96 88
2, 670 40
4,679 28

FOURTH

335

AUDITOR.

' The snm of these transactions for the past year, in comparison with
those ofthe two previous years, is shown by the following statement:
EXCHANGE SOLD in 1882, 1881, and 1880.
D r a w n on—
IJnited States .
Total

Year.
3882
1882

.
.

Total

Gain.

1880
1880

$412, 586 04
1, 355,137 71

$4, 679 28
20, 014 90
24, 694 18

295 72

78, 044 30
1, 767, 333 09

1, 531 38
26, 268 00

302 50
891 97

1, 845, 377 39

1881
1881

Total
United States
London .
...

Loss.

1, 767, 723 75

..

United States
London

Amount.

27, 799 38

994 47

188, 590 91
1,746,887 39

63.4 05
27, 475 15

328 84
1,130 79

1, 935,478 30

28, 089 20

1, 459 63

$9 60
286 32

Pay officers are instructed to draw on the Secretary of the ^N'avy
when such bills can be as advantageously sold as those drawn on London. I t will be seen that the drafts on the Secretary during the past
year were very considerably increased over those of the two previons
years. In the autumn of 1881, Paymaster Foster sold in Yokohama,
Japan, bills to the amount of $156,000 on the Secretary, and received
$771.82 more than he would had the same amount been sold on London. The condition of the market was rather exceptional at that time,
due largely to the fact that .London was sending large sums to New
York to pa3^ the balance of trade then in our favor. I t seems probable
that conditions which will be favorable to the sale of United States bills
will increase, as our own trade is extended to distant nations, and as
the balance of trade is favorable to us in our transactions with European
countries. London is still the money center, the workPs clearing-house,
and is likely to remain so for many years to come. Our progress in
that direction is not very rapid, but it must in the end be sure. The
above tables are indications pointing that way.
In accordance with the suggestion made in my report two years ago
some of the pay officers are in the habit of sending with their report of
sales clippings of market reports in the daily iiapers of even date, show- •
ing that they have obtained the highest market rates, or even better at
times when active competition has been invited. The following extract from a letter of Paymaster Foster, written at Yokohama, Japan,
February 10, 1882, will illustrate this:
I inclose a cutting from the Japan Gazette, o.f Yokohama, Japan, of February 9,
1882 (evening edition), showing the rate of exchauge on the day of sale for silver yen,
in whicli t h e bill was negotiated. The published bank selling rates Avere 3s. SH.
sterling for bank bills on demand on London, aud 90 cents United States gold, on
New York, per silver yen. Bids were requested from five banks, aud the best rates
obtainable were 3s. S^d. sterliug, and 91 cents, respectively, per silver yen. The-sterling exchange shows bnt a reasonable difference betweeu the buying and selling price,
but on •Washington exchange the margin is larger, owing to the expected rise in
exchange between New York and London, on account of the close of the American
export season. The bill was drawn ou London, t h a t rate beiug more favorable by
$34.02, Uuited States coiu, and it will probably continue so for several mouths.
Washington exchauge was more favorable from September, 1881, to January, 1882,
inclusive.
ACCOUNT W I T H SELIGMAN BROTHERS.

A coDimission of 1 per cent, is paid to Seligman Brothers, London, for
disbursements made by them. Their commissions for the year amounted



336

REPORT ON THE FINANCES.

to $14,760.36. They pay 4 per cent, interest on daily balances remaining on deposit with them; and receive 5 per cent, interest on advances
they make. The interest paid by them during the year was $4,969.56;
and that received $1,650.27, making the net interest received by the department $3,319.29. Money is tranferred to London from Kew York by
means of sixty-day bills. Exchange was favorable during the greater
part of the year, and the n