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1
ANNUAL REPOET
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OF THE
SEORETARY OF THE TREASURY
ON THE
STATE OF THE FINANCES
FOR
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T H E Y E ^ R 1886.
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IN TWO VOLUMES.
VOLUME
I:
FINANCE.
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WASHINGTON:
GOVERNMENT PEINTING OFFICE.
1886.
" \ 381
LU.
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G-o iST T E.N" T S
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Page.
The Silver Question.
XIX
New Gold and Silver Commission in Great Britaiii
xxi
The British Gold-Standard Illusion—Origin of Monetary Dislocation
.....^
xxiii
J Crisis and Course of Monetary Dislocation.....
xXY
• Conditions of Monetary Order.........
xx^ii
U. S. Monetary History^Acts of 1873 and 1878 Alike and Irrelevant..........
xxviil
; Effect on Coinage of Legal-Tender Function
xxix
.' The Silver Trouble Universal—Eemedy International
xxxi
I Shall the United States give Free Coinage to Silver novr
^ xxxii
\ Shall the UnitedStates Propose more Conferences......
xxxiii
I Shall the United States Buy More than |250,000,000 Silver....
^ xxxiY
( Shall the United States Promote Cure of Monetary Dislocation.
xxxY
) Consequences of Stopping Silver Purchases.
xxxvii
f Finances of the United States
..:
^............
xxxix
I Currency Reform and Taxation Reform.
XL
( Surplus Taxation 1125,000,000 a year
XL
; Sinking-Fund vYill Cancel Funded Debt when Due
XLI
I Reduce Taxes—Pay Greenlback Debt with Silver Surplus
.;...
XLII
Coin, not Promises, Fit for Legal Tender
,.
XLiv
J Reduction of Surplus Taxation
.."
XLVii
* Pledge to Reduce Taxes
XLViii
VOur present i^rolonged War-Tariff Taxes:
XLix
^ F i e l d o f Federal Taxes, not Land, not Incomes.....
L
-rtj But Things here Consumed, with Inland and Seaport Collectors of Tax.
L
A merican Labor Gets and Earns the Highest Wages.
Lii
High Wages ensure Low Labor-Cost in Product....;....
LII
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Our Suicidal Taxes on Raw Materials
.............;
Liii
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Schemes of Taxation to Prevent Revenue.
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The Cheapest and Best Taxes to Retain.
More Income for Wage-Earners by Dropping Worst Taxes
Untax the Clothing of Sixty Million People....
Free Wool.....
..;.......,.....
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LV
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LVii
LYIII
Tables Accompanying the Eeport.
A.-—Statementof the Outstanding Principal of the Public Debt J u n e 30,
1886...
..;..............
B.—Statement of the Outstanding Principal of the Public Debt each year
from 1791 to 1886
C.—Analysis ofthe Principal of tKe Public Debt trom J u l y 1, 1856, to July
1,1886.
D.—Statement of the Issue and Redemption of Loans and Treasury Notes
during the fiscal year 1886..
E.—-Statement showing the Purchase of Bonds on Account of the SinkingFund during the fiscal year 1886
I
LXI
LXIX
LXX
LXXII
LXXIII
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IV
CONTENTS
Page
F.—Sinking-Fund Account for the fiscal year 1886....
LXXIII
G.—Statement of 30-year 6 per cent. Bonds issued to the several Pacific
Railway Companies
LXXIV
H.—Statement showing the Amount of Gold and Silver Coin and Bullion ;
Gold, Silver, and Currency Certificates; United States Notes, and
National and State-Bank Notes in the United States/ and .Distribution thereof each year, from June 30, 1860, to June 30, 1886
Diagram., showing the Amount of National-Bank Notes in Circulation, Gold,
" Silyer, and United States Notes in the Treasury, with the Corresponding Liability in Outstanding Gold, Silver, and Currency Certificates
with the reduction of the Public Debt
,
I.—Statement of the Standard Silver Dollars, Silver Bullion, and Subsidiary
Silver Coin in the Treasury at the end of each month, from December 31, 1877, to November 30, 1886
K.—Statementof the Annual Appropriations made by Congress for each
fiscalyear from 1879 to 1887.......
,
LXXXIV
L. —Statement of the Net*Receipts during the year
LXXXV
M.—Statement of the Net Disbursements during the year
LXXXVI
N.—Statement of the Recei .pts and Disbursements forthe quarter ending
LXXXIX
September 30, 1886....
..,,.
O.—Statement of the Receipts of the "United States from March 4, 1789, to
June30, 1886
;.....:..vM..;:-;
' P.—Statement of the Expenditures of the United States from March 4, 1789,
to June 30, 1886
......,.,•
XCIV
Q.—Receipts and Disbursements by United States Assistant Treasurers
during the year.
XCVIII
R.—Statement of United States Bonds and other Obligations received and
issued by the Office of the Secretary of the Treasury, from November
Ij. 1885, to October 31, 1886
S.^Statement of Distinctive Paper, Silk-Threaded Fibre, issued from the
Office of the Secretary of the Treasury to the Bureau of Engraving and ^
Printing, and Deliveries and Balances of the same, (for National-Bank
CIV
Currency, Series 1882, for the fiscal year 1886.
T.-—Statement of Redeemed United States Securities received by the Office
of the Secretary of the Treasury for Final Count, Examination, and
'Destruction, during the fiscal year...
.....;,......
APPENDIX TO THE REPORT.
Appendix A.—Receipts and expenditures, actual and estimated, for 1887..
Appendix B.^-Receipts and expenditures
Appendix C.—Diagram shovs^ing the course of English prices, and the gold
priceof silver, from 1845 tb 1885
Appendix D.—Classification of persons in the United States, engaged in gainful occupations..
Appendix E.-—Imports entered for consumption and duties collected, 1885-^6..
Appendix F.—Revenue from taxes for the fiscal year 1886
Appendix G. —Articles, the importation of which does not afifect home products..
3
4
10
11
19
, 34
38
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CONTENTS.
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Page.
Appendix H. —Coin payments of interest-bearing debt, &c
Appendix I.—Reports of heads of bureaus and chiefs of divisions in the office
of the Secretary
40
57
[Index to Contents of Appendix I.—Reports: Treasurer, V; Director of Mint, V I I I ;
Comnlissioner of Internal Revenue, X; Comptroller of Currency, X I ; Chief of
Bureau of Engraving- and Printing, X I I I ; First Comptroller, X I I I ; Second
Comptroller, XIV; Commissioner of Customs, XIV; First Auditor, X I V ;
Second Auditor, XV; Third Auditor, XV; Fourth Auditor, X V I ; Fifth Auditor,
x v i ; Sixth Auditor, X V I ; Register, XVII; Chief of Division of Customs,
1 XVIII; Chief of Division of Special Agents, XVIII; Chief of Division of Revenue Marine, XVIII.]
REPORT OF T H E T E E A S U R E R
57-156
Receipts and expenditures
.'
Summary of operations
The stateof the Treasury.,.
Disbursing officers' balances
Sub-treasuries and mints and assay offices
Mints and assay offices
Deficits, unavailable funds
The sinking-fund and public debt
United States notes
Certificates of deposit, act of June 8, 1872
Gold certi
ficates,
Silver certificates
Stan dard silver dollars
Fractional silver coin
Minor coin
Recoinage of uncurrent coins
Fractional currency
Mutilated and counterfeit currency
The po.stal revenues
:
,
Speaker' s certificates
Clearing-house transactions
,
Receipts from customs at New York
Depositary banks
Pacific Railroad sinking-funds
Trust-funds
United States bonds held for national banks
S em i - ann u al du ty
The redemption of national-bank notes
Retirement of national-bank circulation.
The work of the office
The Treasury balance-sheet
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57
58
59
66
67
69
70
71
72
75
76
77
78
80
81
82
82
84
85
86
86
87
88
89
90
98
99
99
103
104
105
Appe7idix.
Receipts and expenditures for the fiscal year 1886, as shown by warrants
issued
Comparative statenaent of receipts for the fiscal years 1885 and 1886, as
shown by warrants issued
;
Comparative statement of expenditures for the fiscal years 1885 and 1886,
as shown by warrants issued
108
110
110
VI .
CONTENTS.
Page.
REPORT OF T H E TREASURER^—Continued.
Comparative statement of balances in theTreasury at the, close of'the
fiscalyears 1885 and 1886
Explanatory statement of the differences between the balance in Treasury J u n e 30, 1886, as shown by the preceding statements and the books
of the Register, and the cash as shown by the public-debt statement,
published June 30, 1886-...
Balances standing to the Credit of disbursing officers and agents of the
UnitedStates June'30, 1886.....
,
.......;.
Statement sho\ying the total amount o f t h e classified receipts and disbursements on account of transfers, revenues, redemptions, and exchanges, by Treasury offices, for the fiscal year ending June 30, 1886...
• Receipts and expenditures on account of the Post-Office Department for
the fiscal year 1886, as shown by w^arrants paid
Semi-annual duty assessed upon and collected from national banks by
the Treasurer of the United States for the fiscal years from 1864 to 1886,
inclusive
Statement, by loans, of United States bonds held in trust for national
banks June 30, 1886, and of changes during the fiscal year 1886 in the
character of bonds held
Redemptions of United States currency for the fiscal year 1886, and total
redemptions to J u n e 30, 1886...,
United States currency of each issue outstanding at the close of each fiscal
year from 1862 to 1886
United States currency of each issue and denomination issued, redeemed,
and outstanding at close of the fiscal year 1886
'.
Comparative statement of the issue and redemption of United States notes
for the last four fiscal years
Issues and redemptions of United States notes by denominations and by
fiscalyears
.....I
Silver certificates issued, redeemed, and outstanding, by series and denominations...
;..........;...
Gold certificates^ issued, redeemed, aiid outstanding, by series and denominations
Seven-thirty notes issued, redeemedj and outstanding
Coupons from United States bonds and interest notes paid during the
fiscal year .1886, classified by loans
Number and amount of checks for interest on registered bonds of the
United States issued during the fiscal year 1886
;
Interest on 3.65 per cent, bonds of the District of Columbia paid during .
thefiscal year 1886...
,..............:
Refunding certificates issued under act of February 26, 1879, converted
into bonds of the funded loan of 1907
Total amount of United States bonds retired for the sinking-fund from
May, 1869, to J u n e 30, 18«6.....
'.
Total amount of United States bonds retired from May, 1869, to June 30,
1886
;.
110
Ill
Ill
112
' 113
113
114
11-^
V
115
115
121
123
128
128
129
129
129
129
130
130
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131
CONIENTS.
VIE
Page,
R E P O R T OF T H E TREASURER—^^Continued.
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Bonds, Texas indemnity stock, Oregon war debt, and 10-40's of 1864,
retired prior to May, 1869
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Matured called bonds redeemed and outstanding J u n e 30, 1886
Balanced statement of receipts and deliveries of moneys by the NationalBank Redemption Agency for the fiscal year 1886..
Balanced statement of receipts and deliveries of moneys by the NationalBank Redemption Agency from July 1, 1874, to J u n e 30, 1886.........:.
National-bank notes received for redemption, during each morith ofthe
fiscal
year 1886, from the principal cities and other places
Mode of payment for national-bank notes redeemed during the fiscal
year 1886
,...
:.
Deposits made by national bariks in the 5 per cent, fund for the redemption of their notes during the fiscal year 1886.....
Notes of national banks redeemed and delivered on the- 5 per cent, account during the fiscal year 1886.......'....:......
Deposits made by national banks for the retirement of their notes during
the fiscal year 1886
:
Notes of failed, liquidating, and reducing national banks redeemed and
delivered to June 30, 1877, by fiscal years to 1885, and by months to
J u n e 30, 1886
..........:
Deposits and redemptions on account of national banks failed, in liquidation, and reducing circulation to June 30, 1877, by fiscal years to
1885, and by months to November 30, 1886, and balance of the deposits
at the close ofeach period
.....;
Packages of national-bank notes received and delivered during the fiscal
year 1886....
Expenses incurred in the redemption of, national-bank notes during the
fiscal year 1886
..^
Statement showing the monthly receipts from customs at New York from
April, 1878, to October, 1886, arid the percentage of each kind of money
received
Statement showing the airiount of gold coin and bullion in the Treasury,
and of gold certificates outstanding, a t t h e end of each month from
March, 1878
:
...:....
Statement showing the amount of standard silver dollars coined, in the^
Treasury, and in circulation, and of silver certificates outstanding, at
the end of each month from March, 1878
Coinage, movement, and expense of movement of standard silver dollars,
by quarters, to September 30,1886
Shipments of silver coin since June 30, 1885, from Treasury offices arid
mints, the charges thereon for transportation, and the average cost
per $1,000
'
Shipments of silver coin from Treasury offices and mints from July, 1885,
to September, 1886, inclusive, as per their reports to this office...........
Statement showing the amountof fractionalsilver coin in the Treasury at
the end ofeach month from May, 1879
.....'.
132
133
136
136
137
137
138
138
139
139
140
140
140
141
144
146
148
149
150
151
VIII
CONTENTS.
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REPORT OF T H E TREASURER—Continued.
Recapitulation ofthe public-debt statement for the years named, in conformity with the form published since J u l y 1, 1885
Statement giving an estiniate of the amounts annually required for the
^ sinking-fund, according to the present method of computing.interest...
Statement giving an estiniate of the amounts annually required for the
sinking-fund, according to the method of computing interest proposed
and described on page 15
' Changes during the fiscal year 1886 in the force employed in the Treasurer's office
;.....
Appropriations made for, and salaries paid to, the force employed in the
Treasurer's office during the fiscal year 1886
Letters, telegrams, and money packages received and transmitted during
the fiscal year 1886
......;.........
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REPORT OF T H E DIRECTOR OF T H E M I N T . . . , . . . ;
Appropriations, earnings, and expenses
,
,
Earnings and expenses of the refineries of the coinage mints and the assay
office at New York!.
,
Earnings and expenditures
'
Deposits and purchases of gold and silver..
Coinage
Manufacture of gold and silverbars...
Exchange of gold bars for gold coin.
Coinage and medal dies inanufactured
Refining by acids..........
Purchase of silver for the coinage of the staridard silver dollar
Subsidiary silver coinage..
.,
Distribution of silver dollars..
Seignorage of silver coinage....
Course of the price of silver..'
Review^of the operations of each mint and the assay offices
,
Storage and custody of standard silver dollars at Philadelphia..
Expenditures at the coinage mints and assay office at N e w York.....
Annual trial of coins
Value of foreign coins...
;.
';....
Imports and exports of gold and silver, coin and bullion
Coin circulation of the United States
..-.
Production of gold and silver in the United States
Production of gold and silver in the world
Consumption of the precious metals in ^coinage and in the arts.
Monetary statistics of foreign countries
y.
"
Work of the bureau
152
154
155
156
,
156
156
157-414
157
160
161
162
163
164
'' 164
165
165
166
170
171
172
173
174
178
189
193
196
197
199
204
206
208
216
231
Appendix.
Deposits arid purchases of bullion, expressed in standard ounces
Deposits and purchases of bullion, expressed in coining value
Deposits of gold of domestic production.
232
234
236
CONTENTS.
IX
Page.
REPORT OF T H E DIRECTOR OF T H E MINT—Continued.
Deposits of silver of domestic production.
Coinage during fiscal year.
;
Coinage during calendar year 1885.
Bars manufactured, expressed in standard ounces
Bars manufactured, expressed in coining value.
Earnings and expenditures
.,.;.....
Medals manufactured
Medals and proof-sets sold.....
Coinage and medal dies manufactured....
Expenditure for distribution of silver coin
Seignorage on silver
,........:...................
Expenditure for distribution of niinor coins
Wastage and loss on sale of sweeps
Tabulated statement of expenditures
...'
Assets and liabilities, mints and assay offices, June 30, 1886
Silver bullion purchased during fiscal year
Silver bullion purchased during fiscal year, b}^ months
........
Consumption of silver in coinage and wastage
Consumption of. silver in coinage and wastage, by months...i.
Monthly price of silver bullion, fiscal year..
—
. Monthly price of silver bullion, calendar year
Comparatit^^e table of monthly silver purchases.
Tables of assays
,..............;..
Legal weight, tolerance, abrasion, and least current weight of United
States coins...
.^
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Comparison of business of the mints, 1885 and 1886..
Space required for the storage of gpld and silver coin
Coinage from organization of Mint.......
Coinage, by institutions, from Organization of Mint
History of the coins of the United States
*....
Deposits of gold and silver, domestic production, from organization of
Mint...
:
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Bars prepared for^ use in industrial arts.
.......:...
Deposits of foreign gold coin at Nevvr York assay office, 1875-1885..
Deposits of foreign gold coin at the mint at San Francisco^ 1878-1886.....
Deposits of foreign silver coin at the mint at San Francisco j 1878-1886...
Coinage, imports, and exports of trade-dollars, by fiscal years..
Trade-dollars coined, imported, and exported prior to and since joint resolution J u l y 22, 1876
\
Imports and exports of coin and bullion
Imports and exports of coin and bullion, San Francisco
Imports and exports of coin and bullion. New Orleans
Imports and exports of coin and bullion. El Paso, Tex
•
Ratio of silver to gold since 1687.....
Highest, lovYCst, and average price of silver since 1833
Highest, lowest,'and average price of the silver, dollar measured by the
gold standard
,
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238
^ 240
240
242
242
244
246
247
248
249
250
252
252
253
254
256
257
258
260
264
265
266
, 267
271
274
277
278
280'
296
300 ,
301
302
304
305
306
307
308
315
316
316
^ 317
318
319
:
CONTENTS.
Page
REPORT OF T H E DIRECTOR OF T H E MINT—Continued.
World's production of gold and silver...............
Production of gold and silver in the United States from organization ol'
Mint....^
Annual production of precious metals in the world since 1493
Coinagesof various countries, 1882, 1883, 1884, and 1885....'
,.
Coinages of principal nations of the world from earliest periods
Monetary statistics of foreign countries
R E P O R T OF T H E COMMISSIONER OF I N T E R N A L R E V E N U E
Collections
Comparative receipts for. the last five fiscal years.
Receipts during the last two fiscal years
WithdraAvals of distilled spirits, &c., for consumption
Aggregate collections by States and Territories.
Cost of collection........
........^
General condition of the service..,
Miscellaneous expenses....
Expenses and work of revenue agents.
..:
Illicit stills seized,
;......,.......
Ordnance stores.!
;................
^ Expenditures for the discovery and punishment of violations of law.
Offers in compromise
...../....
Abstract of seizures
,
Reportsof district attorneys
"
Estimated expenses for the next fiscal year
Scale of salaries of collectors
Official force
Storekeepers, gaugers, &c
—
Condition of the office
Salaries
Number and value of stamps issued.....
Redemption of check-stamps.
.'...,
Manufacture of stamp-paper
:
:.....
;
Production of stamps
Tobacco, and manufactures of, receipts from.......:..
Production of manufactured tobacco, cigars, cigarettes, &c
Direct tax
Abatement, rebate, and refunding claims ...
............:....
[ Number of special-tax payers
Distilleries registered and operated.
Comparative statement of materials used and spirits produced during the
last nine fiscal years
Increased production of spirits.
...^...
......
Number and location of distilleries
Increased tax-paid withdrawals of .spirits
Spirits allowed for loss by leakage or evaporation in warehouse.............
Spirits removedln bond for export.
320
322
323
324
326
328
415-468
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416
416
416 y
417 /
418 \
418 \
418 j
419 \
419 {
420 \
'421 J
42|I i
422 'K.
423 i
424 j - ^
424
424
425
426
426
426
427
427
427
427
429
430
434
435
437
439.
442
444
444
447
447
448
CONTENTS.
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XI
Page.
REPOBT OF THE COMMISSIONER OF I N T E R N A L
\
REVENUE—Continued.
Quantity of distilled spirits of different kinds produced, withdrawn, and
remaining in warehouse
Summary of operations at distillery warehouses
Spirits on hand, xDroduced, withdrawn from, and remaining in, warehouse, &c
Comparative statement of spirits in distillery warehouses October 1, for
the last four years
Comparative statement of spirits withdrawn for export since 1879
Operations at special bonded warehouses for storage of grape brandy
Drawback allowed on exported merchandise.
Exportation of manufactured tobacco and snuff" in bond
Exportation of cigars and cigarettes in bond
;
Inspectors of tobacco
Distilled spirits in the United States October 1, 1886
Miscellaneous assessments
j,
Assessments for 1886
'.
Decisions of the United States Supreme Court
.;
Internal-revenue legislation
\
Legislation recommended
Modification of penalties regarding liquor-dealers
Reused imported spirit-stamps
Commissions of collectors on taxes collected on spirits
Increase in the number of revenue agents
Taxation of fractional parts of a ga;llon of spirits
Limitation of the number of deputy collectors, clerks, &c
Oleomargarine
R E P O R T OF T H E COMPTROLLER OF T H E C U R R E N C Y
Report submitted to Congress
Requirements of section 333, United States Revised Statutes, as to Comptroller's report
Summary of the state and condition of every national bank reporting
during the year
Statements of national banks closed during the year
Suggestions as to amendments to the laws, by which it is thought the
system may be improved
Apparent violation of section 5243 of the Revised Statutes
National Savings Bank of the District of Columbia
Legal decisions affecting organization, operations, and dissolution of
national banks
:
State banks, savings banks, and loan and trust companies
Resources, liabilities, and condition thereof
Official and unofficial information as to State banks, loan and trust companies, and savings banks
Private bankers and banking
firms
'.
Officers and clerks in the otfice of the Comptroller of the Currency
Expenses of the office Of the Comptroller of the Currency for the year
ending .June 30, 1886....
449
450
451
452
453
453
454
455
455
455
456
457
457
458
459
460
460
462
463
463
464
465
466
469-536
469
469
470
471
472
475
475
476
477
477
478
479
480
480
XII
CONTENTS.
Page.
REPORT OF T H E COMPTROLLER OF T H E CURRENCY—Continued.
National banks organized during the year, with their location by States,
capital, and circulation....
Statement of banks failed during the year, their capital, surplus^ and
liabilities.^..........
i.
Causes of failure
Organization, circulation, and dissolution
Conversion of State banks....
'...
Rules governing the title of ''First National"
•••.••.
State banks converted into national banking associations.
Number of national banks of primary organization
Summary of national banks organized and dissolved, and number existing November 1, 1886.............
Extension of corporate existence of .national banks.
,
Date of expiration.....
,.
Number, capital, and circulation of national banks whose periods of succession terminated during the year
Deposit of lawful money by national banks extended February 25, 1883..
Number and capital of national banks whose corporate existence was
extended prior to November 1, 1886.
Reappraisal of national-bank shares
,
National-bank shareholders
Distribution of shares by States and geographical divisions ..................
^ Number of shares issued, and where held
' Circulating-notes
,
.'.,
Comparison as to banks with capital of $150,000 or under, and those having larger capital
,
Interest-bearing funded debt of the United States, and amount held h j
national banks
,
Redemption of called bonds
Security for circulating-notes
Decrease of national-bank circulation
,
,
,.
Comparison of national banks organized for five years
Banks without circulation.
Dissolution
Irisblvent banks closed
Dividends paid to creditors of insolvent banks.........
Issues and redemptioris of national-bank
riOtes';
Additional circulation issued and amount retired
Redemption of national-bank notes in detail
Duration of national-bank circulation
Reports of national banks to the Comptroller of the Currency...
Explanation of diagram accompariying report.
Classification of the loans of the national banks ,
Twenty-five States having the largest national banking capital..'.
Reserve...............
,
Transactions of the New York Clearing-House.
•
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480
482
482
,483
483
483
485
: 486
487
488
488
488
489
489
490 i
490
492
494
496
496
497
498
499
500
501
502
502
503
504
505
506
507 '
509
519
520
521
522
523
524
CONTENTS.
XIII
Page.
REPORT OF T H E COMPTROLLER OF T H E CURRENCY—Continued.
Clearing-house transactions of the assistant treasurer of the United States
at New York
Comparative statements of clearing-houses of the Uuited States
Movement of reserve in New York city for last ten years
Comparative statement as to clearing-houses of the world
'.
Taxes upon national banks
State taxation of national banks
Conclusion
Abstract of reports of national banking associations of the United States,
^ showing their condition at the close of business on Thursday, October
7, 1886
:
REPORT OF C H I E F OF T H E 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
Securities printed
Expenditures
Appropriations and estimates
Force employed
525
526
528
. 530
530
532
532
536
537-552
T
537
538
539
541
?
Appendix.
Statement showing the United States notes, bonds, and certificates, and <^
national-bank notes delivered
Statement showing the internal-revenue and customs stamps delivered...
Statement showing the checks, drafts, and licenses delivered
Statement showing the miscellaneous certificates, warrants, &c., delivered
Schedule of miscellaneous work done for, .and materials furnished to, the
various bureaus of the Dej)artment
vStatement of the various classes of securities and other work proposed to
be executed during the fiscal year 1888
Statement showing the appropriations to which the expenses of the Bureau of Engraving and Printing were charged
Statement showing the annual expenditures of the Bureau of Engraving
and Printing for the last nine fiscal years
Statement showing the annual production of securities, &c., in sheets, for
the lastnine fiscal years
'.
'.....
Statement showing the number of employes on the first day of each
month since July 1, 1877
REPORT OF T H E F I R S T COMPTROLLER
Warrants received, examined, posted, &c
Accounts received from the auditing officers
Requisitions for the advance of moneys examined, &c
Other official work of the office
Delivery of drafts to attorneys
Assignment of claims upon the United States
Compensation of commissioners of the circuit courts
Accountability of disbursing officers for public property
Renewal of former recommendations
542
544
547
548
548
550
550
551
551
552
553-561
,
.-
,
' 553
554
557
557
557
559
" 559
560
561
XIV
CONTENTS.
Page.
R E P O R T OF T H E SECOND COMPTROLLER
Accounts, claims, and cases settled
Back-pay and bountj^ division
Army paymasters' division
Arni}^ pension division
Quartermasters' division
Navy pay division
Indian division
Miscellaneous division
Requisitions, &c
Suits brought
Insurance and charter-party claims
War-rent claims
Statute of limitations
. Signal-Service accounts....,
New rules
,
Office library
Office appropriations
563-568
;
!
-.
;
;
563
564
564
564
565
565 I
565 |
566
566 *'
566
567 i
567 i
567
568 t
568
568 ^
568 ^
- R E P O R T OF T H E COMMISSIONER OF CUSTOMS....
569-574
Statement of business transacted by the office
569^
i
Appendix.
Statement of warehouse transactions at the several customs districts and
ports in the United States
Statement of transactions under section 2507, Revised Statutes, and decision 4314, November 20, 1879, of entry of horses, wagons, harness,
machinery, &c., brought into the United States for temporary purposes
,
Statement of duties collected on unclaimed goods entered, and amount
of net proceeds of unclaimed goods sold
REPORT OF T H E F I R S T AUDITOR.
Exhibit of business transacted by the office
Legislative disbursements—
United States Senate
^
House of Representatives
Officeof Public Printer...
Library of Congress
Botanic Garden
Court of Claims
•
Miscellaneous
Executive disbursements—
Office of the President
i
Civil-Service Commission
Department of State
Treasury Department
572
574 574
575-588
•...;
575
575
576
576
576
576
576
576
576
576
576
576
CONTENTS.
C
'
y ,
.
' • '
'
.•
•
XV
•
.
•.
\
' •
Page,
R E P O R T OF T_ V F I R S T AUDITOR—Continued.
Executive dis irsements—Coniinued.
District of Columbia....
..;
War Department
Navy Department....:.;
Department of the Interior
Post-Office Department.....
..;....
Department of Agriculture
Department of Justice
:
Summary statement of the work of the various divisions of the office
.
Comparative statement, by fiscal years, of transactions of the office from
1861 to-1886
,
:...
R E P O R T OF T H E SECOND A U D I T O R
587
589-600
Book-keepers' division
.".
...f
General balance-sheet of appropriations
^
Paymasters' division .......:
f
Ordnance, medical, and miscellaneous division..
;
Indian division•.
Pay and bounty division
Division for the investigation of fraud.,
Propeity division
,
N, Division of inquiries and replies
\Division of correspondence an(i records.
Archives division....
Condition of the public business.
..:...
Comparative statement of work performed during the fiscal years 1885
and 1886
..........:
New classes of claims
,
Rehearings
Worn-out muster and pay rolls
The clerical force
.i
(.^
R E P O R T OF T H E T H I R D A U D I T O R
Army-pension division
Claims division
Collection division
Horse-claims division
Military division
Miscellaneous division
Book-keepers' division
State war claims
Compensation of clerks
Absences of clerks...!.
.
580
581
582
582
583
583
583
585
589
591
591
592
593
594
595
595
596
596
596
597^
598
599
599
599
599
601-632
,...........'
;
.-.
,
601
605
605
606
608
610
611
611
612
613
-Appendix.
Statement showing the financial operations of the office
Summary statement of the work of the different divisions of the office...
614
620
XVI
CONTP:NTS.
Page.
REPORT OF T H E T H I R D AUDITOR—Continued.
Amounts disbursed by pension agents
Total disbursements and expenses of each pension agency
Comparative statement of amount disbursed by pension agents each fiscal
year since J u l y 1, 1877
Statement showing amount of advances ^to and disbursements by pension
agents, with unexpended balances covered into the Treasury during
the year and remaining on hand ^at close of business... .^
Amount of arrears of Army pensions disbursed by pension agents.
Recapitulation of Army pension agents' accounts.
R E P O R T OF T H E F O U R T H A U D I T O R . . . . . . . . . . .
:.....
625
626
627
628
631
632 i
,
633-645
Appropriations and expenditures
.......'
Balances and liabilities under '' Pay^of Navy and Marine Corps"
Exchange
!....
Drafts drawn on the Navy agents, London..
Drafts drawn on the Secretary ofthe Navy
,
Coinparative statement of exchange sold during the last seven fiscal years... "
Special fiscal agents at London......
:
Amounts paid for allotment's at Navy pay-offices during the year
Number of Navy pensioners, and amount disbursed to them
Accountability for public property
> REPORT OF T H E F I F T H AUDITOR.
647-684
Diplomatic and consular divisiori........
Internal-revenue division.
•
^
•
^
^
•
•
•
.
..i
,
,
•
"
Appendix.
,
656
Statement of consular fees, salaries, and expenses.
.....;..
659
Statement of relief afforded seamen, with extra wages and arrears
672
Statement showing the number of seamen sent to the United States, and ,
. amount paid for their passage
.,
674
Statement showing the character and amount of fees collected i n each
consular district
"674
Internal-revenue stamps, and assessments charged and cash deposited....
679
Internal-revenue expenses.
681
. R E P O R T OF T H E S I X T H A U D I T O R . . . . ; . . . .
,
Appendix. '
685-689
t
,....
685
685
-
Accounts submitted for suits.:
^
Amount collected in suitcases
.'....
Number of general postal accounts of postmasters, the increase in t h e
number, and the classifica;tion of the offices
Number of changes of post offices arid postmasters.
..;.........
Statement showing the principal transactions in money-orders and postal
notes
-.
;.......:
......;
"
652
Statement of expenses ofthe diplomatic service
The money-order system
False returns of fourth-class postmasters..
i^
^647 /
651 %
.'
.
Miscellaneous division..........
.
633
641
641
642 j
642 ^)
643 t^
644 \
644 1
644 J
645]
686
686 ^
687
688
688
CONTENTS.
R E P O R T OF T H E R E G I S T E R . . .
XVll
,
The duties of the Register
Special work
Bonds issued, cancelled, &c
Keeping the accounts..
691-869
.'
;
691
693,696,697
695
699
Stateiuents.
Loan division.
,
Note, coupon, and currency division
.-....:
Receipts and expenditures division...
' Receipts from customs
internalrevenue..
sales of public lands
consular fees
steamboat-fees.
'
^
registers'and receivers'fees.
marine-hospital tax
relief of seamen
'.
labor, drayage, &c
services of United States officers
customs-officers' fees
^
weighers' fees
\
fines,
penalties, and forfeitures, (customs)
emolument-fees, (customs)
shipping^fees
immigrant-fund
fines, penalties, and forfeitures, (j udiciary)
.^
emolument-fees, (judiciary)
'.
sales of Government property
miscellaneous sources.
Balances of appropriations and expenditures, &c.—
Civil
Diplomatic
,
Judiciary
Customs
:
J n terior civil
'
Internal revenue
Publicdebt
Interior—Indians
Interior—Pensions
Military Establishment
.'
Naval Establishment......
-.
Recapitulation
...'.
Public debt of the United States
Principal of the public debt of the United States
:
Expenses of collecting the revenue from customs, by districts
Expenditures for assessing and collecting the internal revenue
702
704
721
721
723
725
727
731
733
735
737
737
738
' 739
739
739
741
741
742
742
744
744
745
:.
....
747
776
779
782
788
796
797
798
812
- 813.
830
837
838
842
844
846
XVIII
CONTENTS.
Page.
R E P O R T OF T H E REGISTER—Continued.
-
Number of persons employed in each custoins district
Population, net revenue, and net expenditures of the Governinent from
1837 to 1886, &c....
!
Comparative statement of the receipts from, and expenditures on account of, customs for the fiscal year..
Comparative statement of the receipts from, and the expenditures on account of, internal revenue for the fiscal year.....
Receipts and expenditures of the Government.
848
866
867
R E P O R T OF T H E CHIEF; OF T H E D I V I S I O N OF CUSTOMS.
REPORT OF T H E C H I E F OF T H E D I V I S I O N OF S P E C I A L A G E N T S
873-889 (
Results of the work of the division during the year
. 873 <
<
Appendix.
Comparative statement showing showing number of employes, and expense of collecting customs revenue in each customs district for the
fiscal years 1885 and 1886
Statement showing business transacted in each customs district during
the year
Merchandise transported without appraiseinent during the year.
,
Statement of sugars remaining in warehouse and imported and exported, &c
R E P O R T OF T H E C H I E F OF T H E D I V I S I O N OF R E V E N U E - M A R I N E . , ;
Appendix J.—Liabilities of the United States to Indian tribes under treaty
stipulations...
f
,
875i
\
879
883
/88^.
'
891 I
V^^
893.
.REPORT
TREASURY DEPARTMENT,
Washington, Becember 6, 1886.
' S I R : In compliance with Section 257, Eevised Statutes,.! herewitli
j report to Congress (Appendix A) ^^ estiinates of the public revenue and
)public expenditures for the fiscal year current;'' with an exhibit (Ap1 pendix B) of the receipts and expenditures for the last fiscal year; and
> a statement of the public indebtedness and of the assets and liabilities
'^of the Treasury on ^N'ovemher 1, 1885, and ^N'ovemher 1, 1886, and of
/the payments and changes of the funded debt during the same twelve
\ months; besides other tabular statements, records, and comparisons,
and the annual reports to me (Appendix I) from the heads of bureaus
'yd other officers in this Department.
/ I n compliance with Section 248, Eefised Statutes, I have also en.ideavored to ^^ digest and prepare plans for the improvement and manjagement of the revenue, and for the support of the public cre&it,''
thereto allotting the time which recovery from a tedious illness obliged
me to withhold from official routine.
,
dTHE SILVER QUESTION.
^ Since the date of my last annual report, the attitude of an important
gbvernment toward the silver question has been changed. The.matter
is of consequence, and requires detail.
Last December the results of our special mission to the governments
of France, Germany, and Great Britain had just been- obtained, and
were as follows: .
The French Government remained of the same mind as when it had
united with the Government of the United States in calling the International Monetary Conference of 1881. The German Government deemed
the co-operation of Great Britain in any change a sine qua non. The Government of Great Britain, administered by the same party and principal persons then as now, saw no reason to depart from the position held
by that Government at the International Monetary Conferences of 1878
and 1881.
The position which the delegates of the British Government were instructed to take at each of those cpnferences had been adverse to the
II
XX
REPORT OF THE SECRETARY OF THE TREASURY. .
object sought by the United States. That object was the opening of the /
mints of the governments of the United States of America and of the /
leading European States to the free coinage of both gold and silver into
unlimited legal-tender money at a ratio fixed by international agree- [
, ment.
• '"
'
.y
Thus, at the International Monetary Conference of 1878, the British^
delegates had led Mons. Leon Say, the first French delegate, and a ma^
jority of the conferees, to declare that silver, like gold, of course, niust/
be kept a monetary metal, but each State or group of States must act(
for itself in the choice and the mintinge An international ratio being /
pronounced undebatable sincethe bimetallic States did not undertake an(
unlimited coinage of siiver, the British delegates further declared their
hope that every State would not prefer gold, while insisting upon Grjeat j
Britain keeping to her own preferences, and that a fixed ratio wass
^^utterly impracticable.'' These declarations, of course, frustrated the{
object of the United States in calling the International Monetary Con-^
ference of 1878.
•
•
During the next three years, the powerful polemic of Mons. HeuF'^
Cernuschi revolutionized the ^opinion of leading men in Europe, ap^
terminated the dependence of France upon Great Britain. The C^ov- (^,
ernment of France joined the Government ofthe United States in call-,^'
ing the next International Monetary Conference, held at Paris in 1881.
. The object of the United Sliates, now supported by the invaluable concurrence of ^•the greatest'among the great metallic powers," was again
the same—rthe opening of the mints of a groups of such powers to the
free coinage of gold and silver, at a ratio fixed by international agreement, into unlimited legal-tender nioney. The delegates for Great
Britain declared that their monetary system since 1816 had rested on
gold as a single standard; that this system had satisfied all the needs
of the country without giving rise ~ to the difficulties manifest else- '
'where under other systems, and for these reasons it had been accepted
by the governments of all parties and by the nation. The Government of Great Britain, therefore, could not take part in a conference as
supporting the principles proposed, and her delegate was not permitted
to vote. This declaration, of course, frustrated the object in assembling
the International Monetary Conference of 1881, for the Government of
Germany, following'the lead, of Great Britain, was resolved to retain
a monetary system like hers.
I am informed by the Secretary of State that the above declaration of
1881, in respect to the su|)port given by the Governments of all parties to
the present monetary system of Great Britain, was in the summer of 1885
REPORT OF TIIE SECRETARY OF THE TREASURY.
XXI
reiterated to our special commissioner, Mr. Manton Marble, not more
clearly bythe highest officials than by the most eminent characters of the
opposite party who had just resigned the seals of office. In January of
the present year, however, before the return of those opponents to office, a
correspondence was opened between two departments°of the British executive, (bythe India office with the Treasury,) which marked the point of
a new departure.
NEW GOLD AND SILVER COMMISSION IN -GREAT BRITAIN.
The first letter from the then Secretary of State for India ended as
follows:
'^Lord Eandolph Churchill ^ * ^^ desires at the same tiine most
earnestly to press ux^on my Lords the importanceof making'every endeavor that is possible to bring about, by international agreement,
some settlement of the question how the free coinage of silver may be
revived, and the comparative stability of fhe relative value of gold and
silver, which is so essential for the regular course of trade, and which
is of vital importance to India, may be secured." /
This urgency was sui)ported by a telegram from the Government of
India, sajdng:
^''We are of opinion that the interests of British India imperatively
demand that a determined effort should be made to settle the silver
question by international agreement. . Until this is done, we are drifting into a position of the most serious financial embarrassment, in regard to the consequences of which, not only as regards our financial
position, but in respect of measures of taxation in relation to our rule
in British India, it is impossible not to be seriously apprehensive."
The rej oinder (May 31) of the Treasury, then for a brief while under
the direction of Mr. Gladstone's government, maintained the position
traditional in both parties, supporting the same by the authority of Lord
Eandolph Churchill's associate and predecessor. Sir Stafford ^N'orthcote, and closing as follows:
^^It is obvious that her Majest^^'s Government could take, no measures for summoning or co-operating in a new monetary conference
until they had previously determined what policy they should initiate
or consent to. The whole subject is understood to be under consideration of the Eoyal Commission on the Depression of Trade, but my Lords
can find nothing in the correspondence and information before them
which should induce them to depart from the instructions given to the
representative of this country at the conference of 1881."
The third report, last summer, of the said Eoyal Commission, of which
Lord Iddesleigh (Northcote) is chairman, after reference to every cause
for the changed relative value of the two metals, except the first cause,
to which I shall presently allude, ended by recommending a special gold
and silver commission.
'
XXII
REPORT OF THE SECRETARY OF THE TREASURY.
By the return of the Tory party to power in the elections pf July^
that recommendation fell into the hands of those who had made it.
In September, the Eoyal Gold and Silver Commission was> created, as
a petition signed by 243 members of the House of Commons had requested
that it should be, '
^'To inquire whether it is possible to suggest any remedies within
the power of the legislature or the Government by itself or in concert
with other powers, which would be effectual in removing or palliating
the evils or inconveniences thus caused, without injustice to other,
interests and 'without causing other evils or inconveniences equally
great. Lastlj^ if the commission ^are of opinion that this is possible,
they should state the precise form which such remedies should take,
and the manner in which they should be applied."
But the return of the Tory party to power was signalized by a
new distribution of cabinet offices. The First Lord of the Treasury
(Iddesleigh) and the Chancellor of the Exchequer, (Hicks-Beach,)
who bad successively held the leadership of the House of Commons, and
whose opinions had been cited by Mr. Gladstone's government for a'
rebuke to the India Office, were translated to other functions: whereas
the former Secretary of State for India, who, in January, had urged
every endeavor for an international agreement to revive the free coinage of silver, took the chancellorship of the exchequer and the leadership of the House of Commons. In that place and office Lord Eandolph
Churchill announced, on the 7th of September, the members of the
Gold and Silver Commission. Its chairman, a vice-president of the Bimetallic League, and one of its expert members, the financial secretary of the Government of India, are known by those who concern
themselves with the views of thinkers on this subject, to share in the
belief that an international agreement to open the mints of leading governments to the free coinage at a fixed ratio of both gold and silver
into unlimited legal-tender money would suffice to restore the relative value of the two metals to their old stability.
Whatever may be the conclusions of this commission, whatever
the prosi)erity of those conclusions with cabinets or parliaments, its
appointment and character mark a chaiinge in the attitude of the British
Government toward that belief,.at least from indifference to considerate
attention. The change is important. Nevertheless, weighty are the
words of Mr. Gladstone's government, reiterated last May: ^^An entire change in public opinion must take place before a change of monetary policy in this country could be seriously contemplated." While
men of light and leading may strive to form public opinion in a matter
of critical importance to the general prosperity, but so recondite that
not one Englishman in a hundred thousand is capable to form a judgment
REPORT OF THE SECRETARY OF THE TREASURY.
XXIII
on it, and sO repellent that not half the capable will try, yet, even
for'agreement ajnong the competent, silence among the incompetent,
and faith among the masses, time will be necessary. Moreover, in
Great Britain as elsewhere, it has been the fashion to discredit, as the
mere schemes of currency-mongers or of ignorant inflationists, a bimetallic theory of mone^^long prevalent in the successful practice of nations, but which owes both its scientific statenient and authority to a
generation later than that which could but conceive an Anglo-centric
monetary system. . A p a r t from prejudice^ wont and use will make it ^
difficult, like the change to the modern theory of the planetary movements, for a generation born and bred since 1816 to interpret, the function of money from a universal instead of an insular point of view.
I am, therefore, far from supposing that the recent heavy fall of silver
compared with gold, and its effects upon Indian finance and English trade?
have dispelled an illusion prevalent in Great Britain for seventy years,
or that the changed attitude of her present Government amounts to a
candid confession that the act of a British Parliament in 1816 was the
fount and origin of the present great disturbance of the monetary peace
of the world, which her persistence in error has aggravated and prolonged..
- '• '
THE BRITISH GOLD-STANDARD ILLUSION—ORIGIN OF THE MONETARY
'
DISLOCATION.
The illusion consists in seeing the standard measure of commodityprices throughout Great Britain, in the gold exclusively coined by her
mints, instead of in the silver and gold of the w^orld. ,
The illusion is extraordinary, for it has not been denied by her
greatest economists that prices are an expression (in terms of any national monetary unit embodied in coin) of the relation between the
quantities of the two metals and of commodities. Nor has it been
imagined that London prices expressed the relation between the quantities of gold only and of commodities, Calcutta prices the relation betweeen the quantities of silver and of commodities, Paris prices the relation, on a third and different scale, between the quantities ofthe two
metals and of commodities. The fact, too, is apparent, that prices ai^e
one, though expressed in many languages-—the language of each nation's
monetary unit, which unit may here be embodied in gold alone, or there
in silver alone, or elsewhere in both silver and gold, in pounds sterling,
dollars, rupees, francs, marks.
Kevertheless, it is supposed that in 1816 Great Britain did have a
choice among standards, got the best, and, holding up the saine by .
, XXIV^
KEPORT OF THE SECRETARY OF THE TREASURY.
her independent act and authority ever since in her world-wide commerce, that gold alone has been her standard measure of prices, ^^satisfying all hei:- needs without giving rise to the difficulties manifest else-'
where among other systems."
.
What Great Britain did by the act of 1816 was to close^ then and
thereafter, her mints to the free coinage of silver into full legal-tender
money, leaving them open for the free coinage of gold alone into full
legal-tender money. .
In fact, Great Britain's monetary standard, then as before and thereafter, which measured and scored all commodity-prices for herself and
the trading nations of both hismispheres, consisted of a;ll the gold and
silver of the world. Its prevalence was in this wise: one nation or
more gave free coinage to silver alone into full legal-ten der money,
another-nation or more gave free coinage to gold alone into full legaltender nioney, another coined both metals into full legal-tender-money,
and, fixing the different weights of the two metals whibh should have the
same debt-paying and purchasing power, kept in use so large coined
stocks of both as to make her ratio prevalent. Gold, therefore, had in
its proportion as much paying X30wer wherever silver alone had free coinage as where both were coined. Silver, therefore, had in its proportion
as much purchasing power where gold alone had free coinage as where
both were coined. The two metals were thus joined practically in a
universal money, and the general range of prices which it measured
was identical, other things being equal, in Great Britain and elsewhere.
In other words, the silver coinage which England shirked in 1816 was
elsewhere done; the free coinage at a fixed ratio into full legal-tender
money, which she had previously proffered, both to all the gold and all
the silver anywhere mined or melted, was elsewhere actively maintained for sixty years. She neither had a different standard nor a single
gold standard; she was merely a factor in the general equilibrium of
monometallic coinages, which France, by a bimetallic coinage, had
power to keep stable. The dependence of Great Britain was absolute
at the time her indei)endence was most vaunted.
Thus Great Britain's exclusion of silver from mintage into unlimited
legal-tender mone}^ in 1816 did not at once promote the disuse of that
metal in international transactions, not even those in which her merchants and bankers were themselves concerned; nor did it disturb the
ratio of weight at which the two metals were given and received as of
equal value -, nor did it affect that range of prices, the resultant of the
world's industries and exchanges measured against the extant aggregate
of the two monetary metals, so long as great mints were elsewhere open
REPORT OF IHE SECRETARY OF THE TREASURY.
XXV
and ready to .coin both into money that was equally a lawful tender in
fulfilment of every contract or payment of debt created in the daily
course of those industries and exchanges; nor until 1873 did Great
Britain's pursuit of an illusory standard finally'disclose its pregnant
mischief.
.
^
CRISIS AND COURSE OF THE MONETARY DISLOCATION.
' The mischief pregnant in Great Britain's silver boycott of 1816 leaped
to light when Germany, in 1873, imitated that imperial blunder..
Of the growth of British commerce, one uninfluential circumstance, one
mere concomitant (her exclusion of silver from mintage into full legaltender coins) was deemed a cause. Called by the illusory name of the
single gold standard, vaunted by Great Britain herself as " a monetary
system under which she has enjoyed much prosperity," and thus accredited as a partial secret of the greatness of her commercial empire, it
obtained the admiration of .arising^power, then more exercised in the
military than the industrial arts, and but recently consolidated into
political unity after a gigantic war. Equipped with the ransom paid
into the Imperial Treasury by a rich but vanquished power, the statesmen of Germany determined, at any cost, to possess her of the gold
f e t i c h .
' ' , • . ' . • • . • •
• • • • ' •
Closing her mints to the further coinage of silver, retiring from circulation her silver theretofore exclusively coined and seiaking to effect
its substitution through the open mints of Prance for the gold of
France, throwing large quantities of silver upon the English market
at short intervals and in unknown amounts for sale, Germany, by her
legislation of 1871-' 73 thus conceived in the likeness of Great Britain'slegislation of 1816, and, together therewith, immediately caused a great
monetary disturbance.
France, in presence of the silyer flood froni Germany,1 distrusted .the
power of her bpen mints alone to maintain the ratio of the two metals
under free coinage of both, as almost alone she had done during the immensely greater inundation of gold from the new mines of California and
Australia ; and first restricting her mintage, (which neither defeated
the puri30se of Germany, as prompt closure would have done, nor deprived it of importance as continued free coinage would have done,) at
last closed her mints altogether to the further free coinage of silver for
the public into money of unlimited legal tender; and thus, at last, was
subverted the monetary peace of the world.
Since that date, nowhere in the world has the mint of any great government, which coined either metal into full legal-tender money, coined
the other metal into full legal-tender money at any ratio.
XXVI
REPORT OF .THE SECRETARY OF THE TREASURY.
Thus was ended for a time'that legal fusion, so to speak, of the two
''
metals into one monetary measure, which the free coinage of both, and
!
the legal-tender quality imparted to both« in a fixed ratio, had made a
[
practically complete fusion.
^
Thus was ended the prevalence of an ancient acceptable bimetallic
standard and measure of commodity-prices—the mass of the two monetary metals, fused by free coinage, a fixed ratio, and the fall legal-tender
power, into one metal money and price-measurer.
^
Thus began the confusion of two unconjoined monometallic measures,
throughout a world all knit together in commercial unity.
1
Thus began the great monetary dislocation.
Displaced for a time was the world's normal use of one common
standard of prices. The superiority of gold and silver joined, as a
thing in kind and amount, of all things best suited to be that standard,
appears, as I have said, -ifirst, in this, that it is an amount not to be
, varied by legislative wisdom -, second, that it is an amount not to be ,
considerably varied by any single generation of men, for that the annual
increment is too small in x3roportion to the total mass, already huge,
which slowly grows from age to age. That total mass, by its hugeness,
its invariableness, its indestructibility, is a miracle among measures.
.Standing over against the vast aggregate of human commodities, mostly
perishable, which sinks and swells with seed-time and harvest as the
seasons change, and of which the unconsumed and more or less imperishable part is so small, the monetary metals of the world are the
most trustworthy attainable measure of value."
What has followed that displacement? Beginning in 1873 and continuing through minor fluctuations until now, there has been a demonstrated fall in the prices of the chief marketable commodities of man'.s
use more than countervailing the demonstrated rise of prices, from 1818
to li865, which followed the addition of $1,900,000,000 to the world's.
previous stock of gold.
Gold being merchandise in countries giving free coinage into un-.
limited legal-tender money'to silver alone, and silver being merchandise
in countries giving free coinage into unlimited legal-tender money to
gold alone, and the fixity of price of'either metal thus having ceased
(becoming as impossible as fixity of price for wheat or iron) in any ,
country where the other metal alone has free coinage, it has also occurred that the price of silver, measured by the same measure as the
falling prices of commodities since 1873, has fallen in closely parallel
or following fluctuations as far, (Appendix C.)
- .
REPORT OF THE SECRETARY OF THE TREASURY.
XXVII
CONDITIONS OF MONETARY ORDER.
The essential conditions of that old monetary order in their last
analysis seem to be these-:
,
1. Mints open to the public for the free coinage of gold.
2. Mints open to the public for the free coinage of silver.
3. Coined gold a full legal tender.
4. Coined silver a full legal tender.
5. Mints open to the public for the free coinage of silver and of gold,
6. Eated equivalence of both metals in such coinage, fixed by States
powerful enough to make and keep it prevalent.
These conditions, it is obvious, operate everywhere the inclusion of
the uncoined metals as potential money with the coined metals as
actual money, ^enlarging the great measure. They render more than
trivial, they nullify any variations in the petty increment from the
mines, or in the pettier decrement from abrasion, loss, or non-monetary
uses. They enable us to map past errors with precision, and to test
the policy of steps by any nation toward a restoration of the monetary
order.
These joint conditions were the security that changes in prices should
be duc' for every commodity to special and natural causes, and not a
monetary cause, and should be due to no change in the whole monetary
measure or unit of measure, but in every case to the varying cost of
production as man's inventions and industries more easily subdued the
matter and the forces of nature, or to other such secular and intrinsic
circumstance of
fluctuation.
<
Obviously these conditions would have been violated by adoption of
the proposal of Chevalier and Cobden. Had the right of free monetization been withdrawn from the owners and miners of gold as it has ^
been recently withdrawn from the owners and miners of silver by
nations previously giving the right to both, it must be believed that the
purchasing power pf gold compared to that of silver would have been
similarl}^ diminished, and that, instead of a silver question, a gold
question would now be perplexing legislatures and statesmen. In
either event, there could but be a w^orld-wide monetary dislocation,
^causing ever-falling prices and a long depression of trade.
These joint conditions of ^the existence as of the restoration of the
monetary order exhibit in a befitting light the main fe^atures of our own
monetary history, and the debates which have raged around ''demonetization" and the acts of 1873 and 1878.
XXVIII
REPORT O F T H E SECRETARY
OF THE
TREASURY.
UNITED STATES MONETARY HISTORY-^ACTS OFf 1 8 7 3 AND 1 8 7 8 A L I K E
AND IRRELEVANT.
The act of 1873, we are told, /''denionetized" the standard silver
dollar; the act of 1878, we are told, remonetized it; and that, we are
told, is the whole of the matter.
In fact, those two acts are so nearly identical that a common author- /
ship might be suspected. The fate is odd which apportions blessing
and cursing inversely to both.
Theact of 1873 has been denounced and praised for demonetizing
silver, which it did not do. , It retired no silver coin from circulation.
It caused no coin to be sold as bullion. It withdrew the full legal-tender
quality from ho silver coined. It did limit monetization to Treasurj^
purchases for fractional coin.
oThe act of 1878 has been praised and denounced for remonetizing
silver, which it did not do. It did limit monetization to Treasury
purchases for non-fractional coin.
'
The act of 1873 took a sure way to keep all our fractional silver coin
at home.
The act of 1878 took a sure way to keep all our non-fractional silver
coin at home.
The two acts are also alike in missing the point of the monetary
difficulty and escax3ing detection of their own true character. The act
of 1878 is only singular in both mistaking the true object and also
missing what it aimed at.
The method of the two acts is identical. Exportation would only be
possible at a loss on the silver coined under either act. In both acts
monetization is denied except to Treasury purchases.
The door of the Mint is shut to the public by both acts.
Both acts are innocent of a share in causing the monetary dislocation/
although the act of 1878 helps to prolong it.
In 1873 we had not escaped the paper-money i)lague, and our resump tion of the use of the two metals and current redemption of paper did
not begin till the monetary dislocation was far advanced.
By the act of 1878 the monetary dislocation could be neither caused
nor cured. Its limited monetization since 1878 has absorbed more silver than the total amount demonetized by Germany since 1873. It
does not counteract the monetary dislocation. The monetary stock of
the four leading powers, who all in 1878 had neither too much nor less
than enough, is now greater than then b y t h e aid of the United States,—
thus confuting the money-famine theories. Still it does not redress the
monetary dislocation.
,
REPORT OF THE SECRETARY OF THE TREASURY.
XXIX
The action of the United States in 1834, changing the ratio from 15
to 16, had forestalled the act of 1873. To open our mints for the coinage of silver at 16 to 1 of gold, while France was coining silver at 15i
to 1 of gold, was, so to say, equivalent to closing our mints to the coinage of silver at all. Two ratios cannot live together face to face, as
Sir Isaac Newton, master of the Mint, explained neaiiy two centuries
ago. In the money world from that year the United States became a
gold monometallic power, aod such they have ever since remained,
both when they did intend to and when they did not. Albert Gallatin
was, perhaps, the only man in the United States at that time competent to give advice upon a.ratio br coinage difficulty, and Congress rejected his advice. But the error of the United States was the outcome
of ignorance, not, like Great Britain's error, the outcome of an illusion
also ; and 1834 was the date, not at which cis-Atlantic demonetization
ofsilver began, but the date at which its monetization was nullified by
an ill-judged ratio. The arguments that anything newly injurious to
silver was done by the act of 1873, are arguments offered only by those
who are not quite familiar with their subject. The act of 1878 is public
confession that by the closure ofthe French mint to the free coinage of
silver, our act of 1873, not then a necessity, was become a necessity in
that particular, and so was never, repealed, but merelj^ enlarged and
confirmed. It w^as enlarged b^;^ adding to discretional Treasury purchases of silver for the mintage of fractional coin, comi^ulsory Treasury
X3urch.ases of silver for the mintage of non-fractional coin. It was confirmed on the xioint of withholding free coinage of silver.
Our whole monetary history, bearing always the marks of good faith,
is not less instructive. It may be comprised in four chax^ters:
1. 1792 to 1834, when we had a x^lenty of silver, but managed by act
of Congress (April 2, 1792) to shunt all our gold into European mints.
2. 1834 to 1862, when we had a x^i^i^ty of gold, but managed by another
act of Congress (July 31, 1834) to shunt all our silver into Eurox)ean •
mints.
3. 1862 to 1878, when, by three acts of Congress, (February 25 and
July 11, 1862, and March 3, 1863,) except the gold required for customs taxes, we managed to shunt both our gold and silver abroad.
4. 1878 to date, Avhen, by act of Congress (February 28, 1878) we
have managed to dam ux3 the major x^art of our silver xiroduct against
the possibility of exportation.
EFFECT ON COINAGE, OF LEGAL-TENDER FUNCTION.
The enhancement in value of both metals, due to their general employment as legal-tender money, is great, though immeasurable. That
xxx
REPORT OF THE SECRETARY OF THE TREASURY.
enhancement in large degree survives the monetary dislocation which
consists in the disjoining of the two metals, one or the other of them
being now mere merchandise in every country in the world. For while
no nation or groux) of nations possessing a sufficient stock of both metals
now conjoins the two moneys into one money by the free coinage of
both metals at a fixed ratio into one common xiurchasing x'>ower and
price-measurer, as they were long conjoined, silver still has free coinage into full legal-tender money in India, Central and South America,
gold still has free coinage into full legal-tender money in Europe and
here. The enhancement of one metal is sometimes decried by those
who overlook their own share in the enhancement of the other. In
England, official warnings as to the '^ results of any attempt artificially
to enhance the gold xirice of silver" have been sx30ken and thought
logical, as if some such imx30ssibility were attempted as putting up
permanently the gold x^^ice of w^heat or some other article of mere
merchandise.
It was affirmed by Mr. Glad.stone's government in 1881 that ' 4 t has
'' been the xiolicy of this country to em^ncix3ate commerci al transactions
'' as far as xiossible from legal control, and to impose no unnecessary re^'strictions upon the interchange of commodities. To h^ the relative
•' value of gold and silver by law would be to^enter upon a course directly
^'at variance with this xirinciple, and would be regarded as an arbitrary
^' interference with a natural law not justified by any X3ressing necessity.''
Too much honor cannot be rendered to the jprinciple, but here it is not
fairly in question. Prior to 1816, Great Britain had always fixed the
relative value of gold and silver by law, and in 1816 entered upon a
course in which, being joined in 1873 by Germany, the outcome was the
subversion of their ancient, fixed, and x)revalent relative value in law,
which must be at least as objectionable as fixing it anew—a .course
that meanwhile continued to enhance the value of one of the metals in
"relation to all commodities, which must be as '^arbitrary" as interfering with the relative value of the two metals to one another, t h e
''natural law" should be named and described, if xiossible, which underwent no '' arbitrary interference'' when England made of gold alone
a legal-tender metal in 1816, and of silver alone a legal tender metal in
India in 1834, but which would not escape "arbitrary interference" if
now, as before 1816, both gold and silver were to be enhanced in current
use and value by laws of Great Britain conferring in accord with other
nations upon both metals when coined the quality of being a legal tender
in xiayment of debt.
-
REPORT OF T H E SECRETARY OF T H E TREASURY.
XXXI
/ THE SILVER TROUBLE UNIVERSAL—REMEDY^ INTERNATIONAL.
That '' constitutions grow and are not made'' has no better illustration in the history of our civilization than this unconscious growth
and uncontrived accordance of human societies, imperfect yet effectual,
in the founding, and keex3ing fairly stable a general legal-tender money.
It was hot born of x^hilanthropy, nor cradled in treaties. It is the
growth of centuries out of that increasing commerce between all the
races of mankind, which is .slowly but surely, more than all xiolitical
contrivances, establishing their union; enlarging their freedom, and
promoting their peace. To this character of its origin and growth I .
recur, because it may justify the ox3inion which I entertain, that a joint
agreement to open inints would so soon vindicate its own sufficiency and
prove to be the interest of every concurring x^OAver, as to abolish under
this head every fear or need of "entangling alliances." It was a
natural and unforced constitution of the world's monetary system which
tlie unwise laws of a few separate nations have sufficed to dislocate and
disorder, and which wiser laws by accordant nations may now restore.
Once restored, the conditions of a subsequent dislocation, even if
attempted as. a weapon of deliberate war against one member of the
groux3, will be found ux30n reflection almost inconceivable, and in any
event suicidal.
Compliance with the duty imposed by law upon the head of this Department would have been defective, it will now be seen, had I ever regarded the subject thus far discussed as one of sectional or national
limits, or such as usually occux3y the time and tax the energies here devoted to the pul3lic service. It is of larger scope. Not by our choosing, nor by anybody's choosing, it is an international question. Nor
can we safely shut from the range of our scrutiny and reflection, besides the x^olicies and interests of foreign States, the semi-civilized and
most numerous races of men, whose continuous absorx3tion of silver for
centuries, their more recent and increasing absorption of gold, (of w^hich
$125,000,000 have been received and retained in India alone during
seven recent years,) are factors to be duly weighed, and the chances of
change. It is this monetary dislocation of the world in which our own
silver quevStion is included as an insex3arable though fractional part, and
in which even our surplus problem is deex3ly enmeshed.
Most watchful care and x)i*ndence can alone safeguard the interests of
our beloved land and people.
XXXH
REPORT OF THE SECRETARY OF THE TREASURY.
Careful X3erusal ofthe instructive debates at the last session of Congress
leads me to review the four policies which then received marked attention.
1. Free coinage of silver.
2, Conferences,
3, Continued xDurchases of silver,
4. Stox3ping purchases of silver.
SHALL THE UNITED STATES GIVE F R E E COINAGE TO SILVER NOW?
I. The free-silver-coinage prescrix^tion for the monetary dislocation
^satisfies but one of the several indispensable conditions which I have set
forth above in full detail. While it is an indispensable condition of permanent restoration that the free monetization of silver shall be equally
complete as of gold, yet were it now given to silver in this actual moment
of dislocation, the practical result would be to withdraw the same from
gold. That would be a change without advantage in any respect, and
in every resx3ect with disadvantage. In the first place, it would bring
us to the Asiatic silver basis. This has been commended in some quarters. There is, however, no such public desire. The preponderance of
public ox3inion seems overw^helming in favor of the joint use of both
metals. No^ party and no administration could survive or would deserve
to survive the deliberate or the unforeseen and unprevented change to
a silver basis. But the proof is simple that the free coinage of silver
now, would at once entail a silver basis. Offered by the open mint to
both metals, free coinage of silver for silver-owners into legal-tender
dollars would stop the use of the mint for free coinage of gold by goldowners. It would stop the simultaneous circulation of gold and silver
dollars. The gold dollar would be at a premium, and be exx3orted.
Throughout the United States it would make the use of silver in legaltender xiayments exclusive, apart from the greenbacks, which vrould
first be used if possible to empty the Treasury of gold, and then would
cease to signify by "dollar" anything else than the debt of a silver
coin—not at all the monetary unit once embodied in equivalent coins
•of the two metals.
Thus the free coinage of silver now, or, what is the same thing, the
Asiatic silver basis, would but shift onr lameness to the other foot. It
would neither restore nor tend to restore the world-wide use of the two
metals in a rated equivalence, which is the cure for the monetary dislocation, as their disjoined use has been its cause. But the change to the
other foot would be disadvantageous, not a matter of indifierence. Now
we make a limx3ing use of both metals, as is possible since the difficulty
REPORT OF THE SECRETARY OF THE TREASURY. XXXIII
is with respect to the less x:)recious metal, which we manage, by the legaltender power and the receipt for taxes, to hold in some general use along
with the other. Then, however, w^e could keej) in use but one, not the
two, —not even by legal-tender laws, or X3enal laws. Thus the free-silver;
coinage x^rescription and the silver-basis prescrix3tion are alike—amputation of an uninjured leg to cure temporary lameness in the other.
Avoiding rex3etition of what I had the honor to say last winter in
reply to the inquiries of the House of Eepresentatives, (see Ax3X3endix
H,) I will add but one suggestion, which should be fatal to the freesilver-coinage proposal. As our limited silver coinage paralyzes, so
our free silver coinage at this moment would destroy, the x)Ower of the
United States to promote the restoration of silver to its old and equal
place in the monetary order.
SHALL THE UNITED STATES PROPOSE MORE CONFERENCES^
II. More conferences, further diplomatic corresx3ondence are proposed. I venture to think, with all due deference to those who are responsible for a decision, that the time for another conference has not
iirrived, and that the moment for diplomatic interference is not perfectly felicitous. Our information is recent and authentic, and is
contained (Senate Ex. Doc. No, 29) in the letters of our ministers accredited to GreatBritain, France, and Germany, there published, and
in the correspondence and action of the English Government which
are summarized above.
.
The continental X30wers await the action of Great Britain, whose reluctance defeated the object of both conferences called at the instance
of the United States, and to whom again, almost within a twelvemonth,
she has turned a deaf ear. If it suited the dignity of the United States
again to besiege the attention of European States, or again to make advances where they have been so lately repulsed, it would not suit our
interests so to do when it is certain that the inquiry upon which Great
Britain has suddenly entered at the instance and insistance of her great
dex3endency, India, and of her own accord, is entered ux3on with an
exclusive regard to her own interest. And of Great Britain's interests
the United States have no call to become advisers or guardians. A
considerable chapter in the record of both the monetary conferences is
occux3ied by disclaimers, on the part of the United States, of anj^
sx3ecial or interested views,—disclaimers not more just in fact, than they
are convincing, by their necessity, of the natural distrust which zeal
may inspire among jealous and equal States. No interference now can
advance its object if an inward change indeed be taking xilace where
XXXIV
REPORT OF THE SECRETARY OF THE TREASURT.
outward change has been so long X3ersistently refused and resisted. A
conference will be profitable not until after any reluctant State has
placed herself in substantial accord Avith former conferees whose concurrent purx30se she has long known and twice frustrated. In short, it
is noAv for Great Britain to make prox30sitions to other x^OAvers. And, as
not at the instance of united xiowers, so not at the instance of any one
of them, will she abandon her cherished isolation. It Avill be abandoned, if CA^er, solely because it is generally perceived in Great Britain
to, concern the vital interests of Great Britain so to do. Under no circumstances Avill Great Britain alone ox3en her mint to the free coinage
of silA^er. When, if ever, she x^erceiA^es her interest to lie in retracing
the error of 1816, she has the means of apprising other powers of a change
in her opinions.
Conferences and treaties Avould then be in order to a xiractical result.
SHALL THE UNITED STATES BUY^ MORE THAN $250,000,000 OF SILVER'?
III. To go on as Ave are is the least creditable of all the courses ox3en
to our choice.
.
The Treasury silver xiurchase is defended by nobody, apxiroved by
nobody; CA^en every vote for the free coinage of silver is a vote that the
Treasurj^ silver xiurchase shall cease, an assertion that it ought to cease.
It has thrown away the ox3portunity to let loose abroad the silver we
have kept, stamped and stored, and it has discarded the power to reduce
by as much the foreign stocks of gold, two arguments that would have
had ah intelligible cogency.
It is a policy which, if now xirolonged by our hopes, may easily be so
X3rotracted thereafter by astute delays and dilatory proceedings and by
the time taken for negotiation itself as to force an Asiatic silver basis
for America,
It is thus, at least, the remission of all control of the silver question
to adverse, if not to hostile, interests.
It dex3riA^es the United States of xierfect equality of xiosition (noncoinage) in negotiation Avith foreign powers.
It is an exx3eDse and a taxation demonstrated by exx3erience to be of
no aA^ail for any useful end. Needless as a tax, our silver purchase is
also a disturbance in the Treasury, Avhich threatens the currency without relieving the tax-payer. It is heaping ux3 a lieaA^y load of silver
coin needing to be kept, b^t increasingly difficult to keep, in domestic
commercial equivalence Avith our monetary unit. Of that unit the silA^er coins can ncA^er be a true embodiment as the gold coins are, by any
other means than those Avhich x^reserA^e to the gold coin its function as
REPORT OF THE SECRETARY OF THE TREASURY,
XXXV
such an-embodiment, viz., open mints to the silver of the world and a full
legal-tender quality in the payment of debt, imparted by law to any
possible output of silver coin, thus ensuring to the unminted metal an
equal value with the monetized coin. It is, therefore, glutting our currency Avith depreciated metal, while also impeding the only means of
reversing that depreciation and restoring its value.
It has been' as futile as costly. It neither gives nor has had a tendency
to giA^e an international currency to the sih-er of these 250,000,000
coins. It increases by one the number of nations burdened with the
task of holding a dex3reciated metal at its old level in their bimetallic
monetary units. There is a single difference. When the monetary
dislocation began, the people of other nations had large stocks of silver
coin subject to depression; we had none. We" created one, and are
daily adding to it.
To the feebleness of self-defeat inthe exercise of our influence abroad,
it thus unites the injury of a costly inflation at home. It is not merely
the abdication of our actiial power to hasten a solution of the international problem which Avill restore sih-er to its former use ahd A-alue; it
is the taxationof an otherwise OA^^ertaxed people $24,000,000 per annum
to delay and defeat that solution, besides being a use of the proceeds of
that taxation to disorder our domestic currency, jeox3ard the stability
of our unit of value, and accumulate a surplus Avhich on the ohe hand
presses the Treasury towards a silAT^er basis, and on the other hand
tempts Congress beyond a frugal expense. It blocks CA^ery avenue, not
only to monetary but to fiscal and tax reform.
SHALL THE UNITED STATES PROMOTE CURE OF MONETARY DISLOCA,
TION?
IY. To stox3 the purchase of silver is our only choice, our duty, and
our interest.
It Avill stox3 a wasteful and injurious expense, and the taxation which
defrays it.
It will commence and-promote reform in the sum and the methods of
federal taxation.
It Avill recover to the United States an equality of position (noncoinage) with foreign powers, which Avill give us due influence in negotiation.
It will induce negotiation, and negotiation to the end of relief, not
for the purpose of delay.
Stopping the purchase and coinage of silver is the first stex) and the
best which the United States can take in doing their great part to rein
XXXVI REPORT OF THE SECRETARY OF THE TREASURY.
pair the monetary dislocation of the world. Its origin was foreign; '
its remedy is international. The time is ripe for this xiowerful commonwealth to enter decisively upon that international transaction. The
rix3e moment must not be let slix3. After becoming entangled in negotiation, we should not be free, as IIOAV, to act, first for our own adA^antage,
and then for the i3romoting of our own deliverance and the world's
deliverance from this Avorld-Avide trouble. Dex3ressing industry and
trade, it affects priA^ate x)rosx3erity CA^eryAvhere. But its influence ux3on
gOA^ernment finances is a separable injury and varies in different States
according to the fiscal and currency systems Avhich it disturbs. In
England the dex3ressioii is serious, but the disordered finances of her
largest dependency, India, are the point of trouble which touches the
government 0|f GreatBritain. In France and Germany the depression
is general, but the fiscal problem is the niaintenance of an enormous
but not enlarging vStock of coined sih-er lately depreciated nearlj^ 30 per
cent., at par with gold while keex3ing both in use. I n the United
States the dex3ression of trade is great, caused by the natural unAvillingness of those Avhose saAdngs are little as of those Avhose capital is large,
to risk its loss in falling XDi"ices and the hazard of a silver basis, thus
contracting everywhere, not money, of which there is a superabundance,
but the employment of saAdngs as capital, b3^ means of money,'in organizing industry and keeping labor busy. But the trouble meanwhile
caused to the Government finances is different. Here, too, as in France
and in Germany, there is need of holding an enormous and also enlarging
stock (larger now than that of France relatively to our commercial and
banking habits) of coined sih-er, lately dexireciated 30 per cent., at par
with gold while keeping both in use.
To stop the x^nrchase and coinage of silver is for this our local trouble
also the first and best step. To increase our stock is to increase the
difficulties of the Treasury, illegitimate and abnormal difficulties, which
ought never to be imx303ed upon the Treasury of any democratic gOA^ernment, and which ought not to be increased. Its mission is to coin
the two metals into money for the x^nblic—as much as everybody asks.
It has no fitness for coining for itself and keeping the coinage. Itsproper business as a fisc is to receiA^e the people's rcA^enue from taxes
in good money which it has coined for them, and to expend that
money as Congress bids, keex3ing no surplus at all beyond what insures
punctual payments. A Treasury surx3lus is standing proof of bad
finance—of bad laAvs, if such have made it necessary.
If to manufacture and store or distribute coin ofa dex3reciated metal
could stop its depreciation, or relicA^e the depression of trade, or im-
REPORT OF THE SECRETARY OF THE TREASURY. XXXVII
proA^e the money circulation, or call out into use for the emx3loyment of
labor more of loanable ;Capital, or arrest the drop in prices, then the
Treasury trouble a,nd the tax burden would have some offset. But it
does the rcA^erse. It inspires the owners, the borrowers, and emx3loyers of cax3ital, Avho organize work for working-men to do, with an utterly
incurable distrust. It is a reasonable distrust, which every man who
has earned and saved five dollars that he Avould like to emx3loy or lend
as cax3ital, knows as well as those who have saved thousands of dollars
from their earnings, Everj^ Avage-earner, too, knows as Avell as they
that sih-er inflation has not stimulated and does not stimulate industry
or trade. Silver has ncA^er been as low as this year, (42 pence,) though
the Treasury has bought and stamx3ed $250,000,000 of it in the last eight
years. Prices of all commodities range lower than in any x3revious
year of the nineteenth century.
CONSEQUENCES OF STOPPING SILA^ER PURCHASES.
To stop the xiurchase of silver will enable the Treasury, Avhile the
monetary system is restoring to its normal conditions, to maintain
Avith certainty and greater ease the present stock of sih-er coin at x^ar
with gold in all our fiscal and local uses, to the great relief from distrust, of the OAvners and emx3loyers of cax3ital, and so to the greater
relief and increasing employment of labor—the first fruits of sound
finance and the first condition of prosperity.
To stox3 bhe xiurchase of silver of course Avill cause a new fall in the
London market. Speedier and more assured will then be the day of its
fi^nal restoration to its former place in the money of the Avorld. It is
the recent heavy fall which has opened eyes that Avere blind and ears
that Avere deaf. But a fall of sih-er, if the exx3ense and influx to the
Treasury are stox3X3ed, Avill not enhance the trouble of the Treasury or
increjise the difficulty of the duty AA-hich the laAvs impose to keep the
silver circulation at par with gold Avithin our own jurisdiction. Of
course, compulsorj^ emx3loy.ment of a money temx3orarily and locally inferior, in funded-debt X3ayments, or in daily exx3ense of any sort, means
comx3ulsory accex3tance, and would force the inferiority to ax3X3ear,
Avhereas its skilful employment and an optional accex3tance, Avhich
the laAVS of Congress do not forbid, will prcA^ent that inferiority from
' appearing in our domestic trade which nothing can disguise in our
foreign exchanges.
No x^rospective fall in the purchasing xiower of the metal can be so
harassing to the Treasury as the perx3etual ini30ur of a coin made full
legal tender for its face, yet not worth its face, which the Treasury is
expected to employ like gold as if it were worth its face.
XXXVIII REPORT OF T H E SECRETARY OF T H E
TREASURY.
To stop the purchase of silA'-er will thus arrest the growth of that standing shame in our finance, the Treasury surplus. It will put us in the
way of abolishing the same altogether, not by cheating our creditors,
shaving our pensioners, or crippling our wage-earners, but by enabling
the Treasury to hold the sih-er dollar firmly in a local parity with the
gold dollar until we can unite with the leading xiowers in restoring
and establishing their permanent equiA^alence.
It is a direct consequence of the monetary dislocation that wheat of
India, Avhich there fetched 3 rupees per quintal fourteen years ago, and
there fetches 3 rupees x^cr quintal to-day, can be sold in London (cost
of transport apart) for as little as the gold price of 3 silver rupees of
India in London to-day—a fall of 25 per cent.
This fall has caused, of course, a corresponding fall. in the x>idce of
English and Irish home-grown wheat in London.
. This lowered price of wheat in London has had to be met by a lower
price of the American wheat surplus sold in London. The price of
our surx3lus wheat determines the price of the whole wheat-crop of the
United States.
So that the nionetary dislocation has already cost our farming population, who number nearly one-half the total population ofthe United
States, an almost incomputable sum, a loss of millions upon millions of
dollars CA^ery year, a loss which they will continue to suffer so long as
Congress delays to stop the silver purchase and by that act to compel
an international redress of the monetary dislocation.
Another year's delay in stopping the silver purchase is the loss of
remunerative prices upon another wheat-crop of the United States; is
another year's stimulus to India's competition for the foreign markets
of our agricultural product, and a reduction of our ability to hold that
' market against any competition in the world, (measured by a common
money.)
While our war-tariff taxes, prolonged after 20 years of x')eace, have been
choking off our manufactures from successful comx3etition in foreign
markets Avith the xiroducts of nations which do not tax raw materials,
we have deemed foreign markets for the surplus produce of our farms
as sure as seed-time and harvest. Our command of them at least we
have deeihed unassailable. They are in peril.
It is for Congress to consider whether a xiolicy which does not preA^ent the loss of 25 per cent, off of our silver output to a few thousand
mine-owners, but prolongs the loss to many million farmers of 25 per
cent, off the price of their annual Avheat-crop, should not now be abandoned and the only policy adopted which promises to restore the former
prosperity of both.
REPORT OF THE SECRETARY OF THE TREASURY. XXXIX
If the laAV were repealed which makes comx3ulsory Treasury purchases
of silA^er, and if that repeal Avere accompanied by the declaration of Congress that the United States UOAV hold themselves in readiness to unite
with France, Germany, and Great Britaiii in ox3ening their mints to the
free coinage of sih-er and gold at a ratio fixed by international agreement, it is the deliberate judgment of the undersigned that before the
expiration of another fiscal j^ear this international monetarj?^ dislocation
might be corrected by such an international concurrence, the two monetary metals restored to their old and universal function as the one standard measure of prices for the Avorld's commodities, the dex3ression of
trade and industrj^^ relieved, and a general prosx3erity rencAred.
I respectfully recommend to the wisdom of Congress the unconditional
repeal ofthe act of February 28, 1878, accompanied by such a declaration.
FINANCES OF THE UNITED STATES.
The xiublic debt consists of four xirincipal items, w^hich are, in round
numbers, as fblloAA^s:
^
•
'
1. The unfunded debt—
United States legal-tender notes
2. The funded debt—
Loanof 1882, three x^er cents
...,
Loan of 1891, four and a half per cents
Loanof 1907, four per cents
$346, 000, 000
,
64,000,000
250, 000, 000
738,000,000
During the last seveii years the receipts of the Federal Treasury
have been over $2,500,000,000; the net ordinary exx3enditures haA^e
been ux3on an average $257,000,000 a year; the excess of the ordinary
revenue has been, upon an average, over $100,000,000 a year. Including
the $2,000,000 a month exx3eiided for silver, the total annual surplus
revenue has been nearly $125,000,000 a y6ar for the last seven years.
With this surplus Ave haA^e been xiaying off funded debt at an average
rate of $100,000,000 a year, and have been sx3ending the residue mostly
on silver dollars, bf which, in Januaiy next, 250,000,000 Avill have been
coined,
^
Our home consumption, as taxed, gave during the last fiscal year
an increase of rcA^enue beyond that of the xii'evious fiscal year of
$15,740,395; but the first quarter of the x^i'csent fiscal year gave
$7,303,496 increase of rcA^enue beyond that of the first quarter of
the last fiscal year. In other Avords, our taxes (duties and excise,
amounting last year to about $310,000,00P) on commodities entered
from abroad or produced at home for consuiiix3tion in the United States
are giAdng an increase, and an augmenting increase.
XL
REPORT OF THE SECRETARY OF THE TREASURY.
Congress at the last session exx3ressed a solicitude to hasten as fast as
practicable the payment of the funded debt subject to call. Exercising
due discretion, such has CA^er been my duty and xiurpose; and the recent
indication of the judgment of Congress on that head, as Avell as the laws
of Congress which direct my action, will continue to receive heedful
attention. That part of the funded debt has now been reduced to
$64,017,800, and, in Sex3tember, xiayment to any holder, without regard
to future calls, was publicly offered. According to the best forecast
now to be made in a inatter that can better be judged of from week
to week, it will be practicable to haA^e called for payment the last of the
three x^er cents h j the first of next October. If prudent, an earlier date
will be attempted.
CURRENCY REFORM—TAXATION REFORM.
Overwhelming force is thus contributed by Congress and b^^ our rising
revenue to the argument and plan for Currency Eeform, as first in the
order of imx30rtance and of time, and for Taxation Eeform, which Avere
submitted to the Avisdom of Congress in my first Annual Eeport, and
which I now beg leave to state in more detail.
Shortly after the term of the x^i'csent Congress expires, and long
befoi'e the Fiftieth Congress in the natural order of CA^ents Avould
assemble, organize, and determine upon UCAV legislation, it is x3robable
that existing tax laAvs (at a time when the annual larger commercial
need and use of money in moving the crox)S glA^es to their operation
the most serious consequence) Avill be AvithdraA^iug from circulation
and pouring into the Treasury the x^i'oceeds of a surx3lus taxation,
beyond all sums of Avhich the x^i'csent Congress has hitherto considered or prescribed the employment. During the 3^ears of the immediate
future, under the operation of existing tax laws, this surplus taxation
would be at least as onerous and excessiA^e as now, A Avorld-wide monetary dislocation the Y3resent Congress can assist to cure. A needless
dex3letion of the peox3le's earnings at the rate of $125,000,000 a year the
present Congress can comx3letel3^ cure.
SURPLUS TAXATION $125,000,000 A Y'EAR,
Employment for the xiroceeds of our surx3lus taxation, reasons for
delay in reducing our surx3lus taxation, can no longer be found in a
rapid xiayment of the funded debt. Setting aside the A^anishing three
X3er cents and the unfunded debt of $346,000, OOOj the residue of the
public debt has been in such Avise funded by our x^i'cdecessors that
$250,0.00,000 cannot be paid, ,excex3t by x^nrchase at a high xiremium to
REPORT OF THE SECRETARY OF THE TREASURY.
XLI
the bondholder, before September 1, 1891, and that $737,776,400 cannot be x^aid, except by,X3nrchase at a high premium to the bondholder,
before July 1, 1907. On and after those dates, respectiA^ely, but not
until then, those loans are payable, at the option of the United States,
at their face and without premium. The present premium on the four
and a half ]3er cents of 1891 is about 11 per cent. The present premium
on the four J)QV cents of 1907 is about 28 per cent. To continue our
present surplus taxation, and to emx3loy its x^i'oceeds IIOAV or for some
years to come in giving to the bondholder any such, or still higher,
premiums by anticipatory xiurchase of those bonds before they are due
and payable at x^ar, is a fiscal xiolicy so unnecessary, extravagant, and
merciless to the industrious toilers of our land, from whose earnings,
profits, or cax3ital are deducted and taken all the revenues of the Treasury, that I canuot presume their rex3resentatives in Congress would let
stand any law deA^olving upon the head of this Department such a
thriftless task.
I also set aside as equally indefensible, the continuance of our present
surplus taxation and its employment in extravagant apx3rox3riations, by
which, of course, I neither mean to include suitable annual appropriations for the large exx3ense of deepening the channel to earrj off
the'floods of the Mississippi riA^er, nor such as are needed for the still
larger expense of providing our seaboard cities with a permanent coast
defence. These are not the means of naval aggression nor incitements
to militancy at home or abroad; they are prudent x^roAdsions "for the
common defence and general welfare," Avhich require no blanket clause
to justify or coA^er them. Our engineers do not need extraA^agant
approx3riations to carry on as fast as practicable these great works,
which should be the labor and the legacy of a x^caceful generation for
the benefit of those Avho will succeed to our inheritance.
I also set aside as alike indefensible the continuance of our X3resent
surplus taxation, and its emx3lo3^meiit to increase the Treasury hoards.
These are now in enormous excess of an3^ need which would continue
to exist were the legal-tender debt x^aid off and were the silver basis
finally averted and the. fear of it removed from thepublic mind by
stopping the silver x^nrchase.
But this outline of our financial situation, prospects, and x^itfalls
requires the addition of one more fact.
SINKING FUND "WILL CANCEL FUNDED DEBT AVHEN DUE.
The computations of Treasurer Jordan, in his subjoined rexiort, show
that the xirovisions of the Eevised Statutes (Sections 3694 and 3695) as
to the sinking fund and the public debt, and comx3liance therewith, by
XLII
REPORT OF THE SECRETARY OF THE TREASURY.
their continued operation hereafter, will effect the X3ayment of the whole
public debt, greenbacks and bonds, by the year 1908,—within a tAA^eh^emonth after our last great funded loan becomes due and payable.
In other AVords, I am advised by that able officer that the whole
public debt can be thus duly x^aid without a continuance of our xiresent
surplus taxation, but nierely by conformit^^ to the sinking-fund law
and the regular annual apx3ropriatioii therefor, from UOAV till 1908—
to Avit, by " t h e xiurchase or xiayment of one per cent, ofthe entire debt
"of the United States to be made toithin each fiscal year, which is to be
'' set apart as a sinking-fund, and the interest on which shall in like
"manner be apx3lied to the x^ui'chase or xiayment of the x^nblic debt,
" as the Secretaiy of the Treasury shall from time to time direct."
But in order to transfer our xiresent and accruing xiroceeds of surx3lus
taxation from theTreasuryA^aults to thex^ockets of the xieople; in order,
also, to effect the most econoniical comx3liance with the sinking-fund
laAV above cited, whilst the bonds not yet due are too far beyond our
reach; and in order also to fulfil the law^ in which "the faith of the
"United States is solemnly pledged to the payment in coin (redemption
is elsewhere sex3arately x^i'omised, and since 1879 has been practised)
"to the payment in coin or its equiA-alent, of all the obligations of the
"United States not bearing interest, knoAvn as United States notes,"
(E. S,, 3693, March 18, 1-869,) a mere reduction of our xiresent surplus
taxation is not enough.
Currency- reform and Taxation reform are both necessaiy and both unavoidable, if the Forty-ninth Congress, during the remaining three
, months of its life, shall perceive IIOAV powerfully we are constrained by
our duty, our interest, and our necessities to enter now ux30ii the open
path of vsafety.
The financial situation, scanned at large and as a Avhole, x^lainly indicates our best xiolicy. We should-r
Eeduce taxation^ immediately to an annual rcA-enue sufficing to pay
our annual exxienditure, inpluding the sinking-fund, and excluding the
silver purchase;
Pay our unfunded debt of $346,681,016 with the xiresent surx3lus, and
the surplus which wdll accrue before the whole reduction of taxation
can be made or take effect, and while no more funded debt can be x^aid
excex3t at a X3remium during the five 3?^ears from UOAV until 1891.
REDUCE TAXES—PAY GREENBACK DEBT WITH SURPLUS.
I therefore resx3ectfully recommend:
1. Eex3eal ofthe clause in the act of Februaiy 28, 1878, making compulsory. Treasury xDurchases of silver, for the reasons heretofore given
REPORT OF THE SECRETARY OF THE TREASURY.
XLIII
and in order to reduce surx3lus and unnecessary taxation $24,000,000 a
year.
2. Further reduction of surplus taxation, beginning in a manner Avhich
Avill be suggested below, close down to the necessities of the Government economically administered.
3. Eexieal of the act of May 31, 1878, making compulsory, x^ostredemx3tioii issues and reissues of United States legal-tender notes, thus
facilitating—
4. Gradual purchase and X3ayment of $346,681,016 outstanding x3romissory notes ofthe United States Avith the present and accruing Treasuiy
surplus, issuing silver certificates in their room, and gold certiticates
if need be, Avithout contraction of the X3resent circulating volume of the
currency, these notes (called greenbacks) being IIOAV the only debt due
and payable before 1891 except the three -pev cent, bonds, which are
probably all to be called and paid, early in the ensuing fiscal year.
The extraordinary conjunction of opxiortunity- and necessity making
practicable so complete a reform in our currency and so large a reform
in our taxation, will, xierhaps, excuse a reference to the conditions and
the method of their execution which were set out in my last annual report, or any repetition of what I have already had the honor to suggest
in resx3ectfully urging upon Congress the easy proAdsion of a better
currency for the xieople of the United States than the best now possessed by any nation,—"a currency in Avhich CA-eiy dollar note shall be
tiie rex3resentative certificate oif a coin dollar actually in the Treasury
and xiayable on demand; a currency in which our monetary unit,
coined in gold, or its equivalent, coined in sih-er, shall not be suffered
to part comxiany."
The act making comx3ulsory post-redemption issues and reissues of
United States notes and the act making comx3ulsoiy Treasury xDurchases
of silver are each a separate menace to the x^nblic tranquillity, are each
injurious to the public morals, the public faith, andthe public interest.
But they do not double our difficulties. On the contrary, the repeal
of both acts, and the use of the Treasury metal surplus in the substitution of coin certificates fbr greenbacks, will convert our worst kind
of pax3er currency into the best kind,-^indefinite xDi'omissory notes of
debt made legal tender will be converted into rex3resentative certificates of coin, held subject to demand.
As the comx3etency of the Federal Government to make its debts a
legal tender of xiayment for the debts of its citizens, one to another, has,
in these latter days, been affirmed, despite an absolute consensus of
opinion to the contrary among its founders and statesmen of all par-
XLIV
REPORT OF THE SECRETARY OF THE TREASURY.
ties from 1789 to 1861, it seems to me in this conflict of legal ox3inions
a duty to recur to the unquestioned conclusions of a sound finance.
COIN, NOT PROMISES, F I T FOR LEGAL TENDER.
When the union of the States was formed in 1789, and the xiresent
Constitution ordained, the last and first avQAved objects of its framers
were to secure liberty, and to establish justice. Political philosox3hy
as yet'has framed no higher ideal. Justice was their endeaA-or, and the
Constitution, like the laws xiassed by the early Congresses, in which
many of its framers sat, shows a fixed X3nrx30se to aA-ert known x^erils to
justice.
Among the chief instruments and means of justice is a least imperfect, least variable, coin monetary unit; the standard of all exchangCvS
and laAvful tender of xiayments. The framers of the Constitution Avere
fresh from a bitter experience of the calamities consequent uxion stretching the legal-tender quality from coin to x^romises to x^ay coin. So they
built high a double barrier against that calamity. They limited the
Federal Government to certain and delegated powers. They defined
some and prohibited other certain xiowers to the States. And, lest the
residue of unprohibited or undelegated poAvers which comxileted the
round sum of sovereignty, should be implied into the Federal Government, they rese.rA-ed them explicitly to the States resx^ectiA-ely or to the
peoxile. Then to the Federal GoA-ernment the^- gave many xiOAvers, but
not this power to make the Treasury notes ofthe United States a legal
tender in the xiayment of private debts. Then to the States they explicitly xirohibited all future exercise of a similar poAA-er—theretofore
at most grieA-ous cost exercised by them amid the struggles of foundation or the throes of rcA-olution. Nor in any one of the fifteen amendments which haA-e enlarged the federal X30wers, OA-er slaA-ery, rexiresentation, citizenship, and the A-oting franchise, has there been enlargement
of the poAver at first bestowed upon the United States, and vested in
their Congress as the x^OAver to "coin money, regulate the value thereof
and of foreign coin," And Avhile thus Avererefused in the Convention,
and withheld in the Constitution, any Avarrant to amplify-, or excuse for
abusing, the xiower so specified and granted, it Avas also ordained that
thereafter " n o State shall "^
'^ emit billsof credit; make anything but gold and sih-er coin a tender in xiayment of debts; pass any
* * ><
i law impairing the obligation of contracts ^^ * *," Under
the last clause ofthe eighth sectioii ofthe Constitution, the power thus
granted Avas by the Second Congress, in the coinage law of 1792, as
necessarily and properly executory of that x)ower, wisely and fully ex-
REPORT OF THE SECRETARY OF THE TREASURY.
XLV
er cised. It was exercised Avithout abuse, without pretension to some
sovereign x^OAver inherited, but as a specific power delegated to the
Federal Government and A-ested in the Congress.
It was exercised not in relation to any power to borroAv money; for
money, besides being one kind of wealth, is also that kind which is a
standard and measure of the value of all kinds of wealth; and to change
the standard, in the act of borrowing, from coin to the promise to x^ay
coin, would liaA-e been not borrowing merely, but also cheating or enriching the lender. If such power be indeed a soA-ereign power, legitimate and heritable, it is of the least precious x3atrimony reserved in the
sovereignty of the xieople, for it Avas prohibited to the States^ and ncA-er
delegated to the United States,
The Congress of 1792 fixed the monetary unit of the United States in
coin, gave it the name Dollar, made it the unit of the mone3- of account
in their offices and courts, named also its multiplCvS and fractions, and
then, opening their Mint free to all comers, affixed the full legal-tender
quality to all gold and silver there coined.
Congress might, under its also granted power "to borrow money,"
have received the loan of all the coined gold and silver dollars that
their OAvners Avould lend, for borroAving is not taking, by force of law
or license, against the Avill of the lender. It is taking because the consent of the borroAver to receiA-e concurs with the consent of the lender
to coiiA-ey. In return, for each and all of those coins it might have
emitted its x^i'omises to pay on demand. That Avoiild have been the"
exercise of its granted xiower to borroAv nioney. At further need it
might haA-e agreed to pay from its constant receixit of taxes (for the
longer loan of money which its own constantly outgoing expenditure
and the residue of still unborrowed nioney would provide) money in
principal sums and as interest, giving therefor its time obligations.
That Avould have been the exercise of its power to borrow money. But
the xiower to change the unit of value in money so borrowed or so
loaned, has no relation, legitiniate or logical, with such or any power
to borrow money. It is not deriA-able from the borrowing power. I t
is a x^OAver illegitimate and irrelevant both to the lending and to the
borrowing x^OAver, The latter is a poAver to use the credit which a
Government has from men's faith in its honor and its laAvs, The x^OAver
to raise or depress the monetary unit of A-alue is a x^OAver to destroy
men's faith in the honor of a Government and its laws. The power to
. force into the circulation an unfit representative of, a false equivalent
of, a debt of, that monetary unit of value, as its namesake and equal in
exchange, is a x^OAver to destroy men's faith in the honor of a GoA-ern-
XLVI
REPORT OF THE SECRETARY OF THE TREASURY.
ment and its laws. Their sense of betrayal, and their xDcrcex^tion of
the fact, are expressed by the non-equiA-alence in exchange often disclosed betAveen the undebased coin and the debased coin, between the
coin and the promise to pay couA-erted into a legal tender, betweeii the
coin undex^reciated and the depreciated coin, according as in any of
these ways the monetary unit has been the instrument or the memoriax
of that duplicitj-. But such prbceedings found no precedent, such opinions as are here controverted found no believer, no defender among the
lawyers, statesmen, or peoxile in the first seventy-two years of this Eepublic,
Not until after 1861, when a great danger had beclouded most men's
percexotions of financial as well as constitutional law, was a legal-tender
money made out of the debts of the United States,
Not until the infection spread was it ever deliberately argued that
an^-rex3resentatiA-e of the unit of value could justly be suffered to be
made, or to abide, in x)ermanent dex^reciation and disxDarity therewith.
But whether or not a non-equivalent of the coin dollar may be made
a lawful dollar, and whether or not post-redemption issues and reissues
of such promises can be lawfully made, after twenty-one years of peace
haA-e suxierseded any real or imagined exigency of war, certaiii it is that
eveiy argument of policy now forbids the continuance of that legalized
injustice. Had it ever been conferred, the Federal Government should
be strixDX^cd of so dangerous a power. No executive and no legislature
is fit to be trusted Avith the control it invoh-es over the earnings and the
saA-ings of the xieople. No earthlj- soA-ereign or servant is caxiable of
a just exercise of such authority to imx^air and x^ervert the obligation
of contracts.
•
To a-pplj the present and the unavoidably accruing proceeds of our
surplus taxation during the next five years in xiayment of the only xiortion of the xiublic debt beyond the vanishing three per cents, which is
now due or will be xiayable, except at a high X3reniium, before the four
and a half per cents of 1891 mature, besides being a large measure of currency reform, Avill also diminish and. finally dissipate the objectionable
and invidious infiuence of the Treasury uxion the money market and ux^on
the business of the countiy. Skilftil administration of the Dex3artmfent in resxiect to its incomes and outgoes may reduce to a minimum
that influence, Avhich cannot but be considerable while its receixits average a million dollars a day. But it is in no Avay for the public advantage, it is a distinct interference with private proxierty, and it is an
improper trust to be imposed ux^oii any officer of the GoA-ernment,
when the most x^mdent, faithful, and intelligent exercise of his judg-
REPORT OF THE SECRETARY OF THE TREASURY.
XLVII
ment, and the wisest use of the power he is compelled to accept, cannot
fail to promote the pecuniary advantage or involve the pecuniary disadvantage of this or that group of his fellow-citizens. It is no defence
of the condition of things which has grown up since the Avar, and which
has gradually couA-erted the Treasury into such an OA-ershadowing
fiscal power, invoked at every commercial crisis, to say that we are
becoming accustomed to it.
These illegitimate and uuAvarrantable encroachments of governmental
influence should be restricted and abridged, with constant and inflexible purxiose to restore the simplicity, comx)el the frugality, and limit
the authority of Federal as of all our gOA-ernmentar institutions.
Of these the true function is to guard our individual liberties, not to confine them, not to supersede them, not to direct them. Even monarchies are slowly discarding other functions. Democracies have no use for
their cast-off trappings. It is liberty AA-hich has enlightened the world,
not the necessary CA-il of legislatures, laws, courts, armies, and x^olice,
which with our taxes we x^ay to guard that liberty from aggression.
REDUCTION OF SURPLUS TAXATION.
It remains to consider the reduction of taxation to the needs of the
Government economically administered.
What surx3lus we expend in paying off the greenback debt will diminish by so much the immediate reduction of our tariff taxation; for, while
the funded debt stands, certainly it is not wise to discard the taxes on
whisky, tobacco, and beer. Indeed, it is my own belief that whenever
we begin taking off the shackles of war-tariff* taxes on raw materials,
such increased xirosperity will folloAv to the employers who dread it,
and such larger and steadier employment to the wage-earners who
need it, by increasing the sales abroad of our own manufactures, and
by Avhipping out foreign competitors in our OAVII markets, that we shall
see our income from imported manufactures dwindle so fast as not only
to comx^el the retention of these most fit items of revenue—whisky,
tobacco, and beer—but, xierhaps, to drive us back to getting ten millions of revenue from two cents a xiound tax on coffee and half as
much from tea.
It is the reduction of war-tariff taxatioh which we have to consider.
Under our system of government by party, and the rule of the majority, I do not think it unbecoming even in a public officer at this time
to recall certain responsible arid specific pledges in respect to the sum
and niethods of Federal taxation, subject to which the x>cople of the
United States, in the exercise of a lawful election, took away the admin-
XLVIII REPORT OF THE SECRETARY OF' THE TREASURY.
istration of this Government from the xiarty intrusted therewith for a
quarter of a century and lodged it in other hands.
Public life will cease to be the ambition of honorable and Avorthy
men, if the deliberate pledges and professed x^idnciples of political
parties are not a law for their leaders. Discharging, if I might, Avhatever hostility of tone, now irrelevant, it contains, I desire to refer to
the record of one x^nblic obligation thus assumed, and thus accepted
and made binding by the last general pox3ular A-ote:
PLEDGE TO REDUCE TAXES.
"Unnecessary taxation is unjust taxation. ^ * ^\ Surxilus (taxation) of more than $100,000,000 has yearly been collected from a suffering xieoxile. >K ^< * We denounce the Eex^ublican xiarty for having
failed to relicA-e the x^eox^le from crushing war taxes which haA-e x^aralyzed business, crix3pled industry, and dexiriA-ed labor of emploj-ment
and of just reward. * ><
i ><
i
.
"Under a long x3eriod of Democratic rule and policy, our merchantmarine was fast overtaking, and on the x3oint of outstrix3X3ing, that of
Great Britain. Under twenty yearsof Eexiublican rule and policy our
commerce has been left to British bottoms and the American flag has
almost been swept off the seas,
'' Under Democratic rule and xiolicy, our merchants and sailors, flying
the stars and strixies in every x^ort, successfully- searched out a market
for the A-aried x^i'oducts of American industry. Under a quarter of a
<ientury of Eepublican rule and policy, desxiite our manifest adA-antage
OA-er all other nations in high-paid labor, faA-orable climates, and teeming soils; despite freedom of trade among all these United States;
desx3ite their x30X3ulation by the foremost races of men, and an annual
immigration of the young, thrifty, and adventurous of all nations;
desx3ite our freedom here from the inherited burdens of life and industry in old-AA-orld monarchies, their costly war iiaA-ies, their vast
tax-consuming noii-x3roducing standing armies; despite twenty "years
of xieace, that Eex3ublican rule and x^^^l^cy have managed to surrender
to Great Britain, along with our cominerce. the control of the markets
ofthcAvorld, * * '^
"Instead of the Eex3ublican xiarty's discredited scheme and false
pretence of friendship for Anierican labor, ex[3ressed by inix30sing taxes,
we demand, in behalf of the Democracy, freedom for Anierican labor
by reducing taxes, to the end that these United States may compete
with unhindered x^OAvers for the primacy among nations in all the arts
•of x^cace and fruits of liberty,"
These x^lcdges can never be fulfilled without a reform in the sum and
methods of Federal taxation. Nor can oiir country ever profit fully by
its incomxiarable advantages among the nations of the earth in x30X)ulation, peace, land, and liberty so long as we go on X3leading infancy, and
•swaddle, in mediaeval rags, its victorious energies. It is these which
need release and liberty. All our requisite taxation may be made an
•easy garment. We have made a prison of it, x^i^istered stiff with
obsolete contentions about xirotection and free trade.
REPORT OF THE SECRETARY OF THE TRE.1.SURY. • XLIX
OUR PRESENT PROLONGED W^AR-TARIFF TAXES.
It is actually the war rates of the Avar-tariff of the last generation
under AA-hich we are IIOAV living; for the undebated, unsifted law of
1883, made by a conference committee, did but keex3 alive the body of
the tariff of 1864.
The aA-erage percentage of the taxes on, to the A-alues of, iinx3orted
commodities has been as follows:
Morriirtariff of 1859-'61, (before the war,) Avas
18.84 per cent.
War-tariff of 1862-'64 (in 1866 was highest) was
48.35 x^er cent.
Present Prolonged War-tariff' (Avas in 1885)
"
46.07 per cent.
My last annual report reviews the history of this strange surviA-al.
"Like our currency laws, our tariff laAvs are a legacy of AA-ar. If its
exigencies excuse their origin, their defects are unnecessaiy after
tAventy years of x^cace. They haA-e been retained without sifting and
discrimination, although enacted without legislatiA-e debate, criticism,
or exaniination, A horizontal reduction of 10 per cent, was made in
1872, but Avas rexiealed in 1875, and rejected in 1884, They require at
our custom-houses the employment of a force sufficient to examine,
axixiraise, and levy duties upon more than 4,182 different articles.
Many rates of dut3- begun in Avar haA-e been increased since, although
the late Tariff Commission declared them 'injurious to the interests
supxiosed to be benefited,' and said that a 'reduction would be conducive to the general.xirosperity.' They haA-e been retained, although
the long era of falling X3rices, in the case of specific duties, has ox3erated
a large ihcrease of rates. They haA-e been retained at an average ad
valorem rate for the last year of OA-er 46 per cent., AAdiich is but 2i x^cr
cent, less than the highest rate of the war xieriod, and is nearlj- 4 per
cent, more than the rate before the latest revision. The highest endurat^le rates of duty, which Avere adopted in 1862-'64 to off-set internal taxes ux36n almost CA-ery taxable article, haA-e in most cases been
retained IIOAV from fourteen to twenty years after every such internal
tax has been remoA-ed. They haA-e been retained while x^ni'dy revenue duties ux3on articles not competing with anything xiroduced in
the thirty-eight States haA-e been discarded. They have been retained
upon articles used as materials for our OAVII manufactures, (in 1884
adding $30,000,000 to their cost,) which, if exx3orted, comx3ete in other
countries against similar manufactures from untaxed niaterials. Some
rates have been retained after ruining the industries they Avere meant
to advantage. Other rates haA-e been retained after effecting a higher
X3rice for a domestic product at home than it Avas sold for abroad. The
general high level of rates has been retained on the theory of countervailing lower w^ages abroad, when, in fact, the higher Avages of American labor are at once the secret and the security- of our cax3acity to
distance all competition from 'x3aux3er labor,' in any market. All
changes haA-e left unchanged, or changed for the worse, by new schemes
of classification and otherwise, a complicated, cumbrous, intricate group
of laAVS which are not capable of being adniinistered with inix3,artiality
to all our merchants. 'As nothing in the ordinary course of business
is imported unless the price here of the domestic, as well as of the
imported, article is higher by the amount of the duty and the cost of
L
REPORT OF THE SECRETARY OF THE TREASURY.
sea-transit than the price abroad, the preference of the tax-payer for
duties upon articles not produced in the United States is justified by
the fact that such duties cost him no more than the Treasury of his
country gets. As for duties affecting articles that are also produced in
the United States, the first to be safely discarded are those upon mat^erials used by our own manufacturers, which noV subject them to a
hopeless competition, at home and abroad, with the manufacturing
nations, none of which taxes raAV niaterials,''
FIELD OF FEDERAL TAXES, NOT LAND, NOT INCOMES. „
The Federal power of taxation is almost uncircumscribed. It must
be "for the general welfare," not for a partial or class benefit. Exports
cannot be taxed. Direct taxes must be apx3ortioned among the scA-ei^l
States according to their x)ox3ulation. Indirect taxes must be uniform
throughout the United States. These include "all duties, imposts, and
excises," Avhich are, though advanced by the home xiroducer or the
importing merchant, alike actually paid by the final consumer.
Our experience of the difficulty and inequalities of the direct tax
when applied to land, of which a square foot in one place is costlier
than 100 miles square in another place, and in proportion to pox3ulation, Avhich varies in density UOAV and changes continually; or when applied to individual incomes (the most direct tax conceivable, for when
paid it cannot be shifted—it has no rex3ercussion, which is the only
common feature of the taxes held to be direct before war had disturbed the vision of courts and legislatures) under the prescribed rule
of apportionment to the States according to population, confines their
utility to State purposes, and excludes them from the just purA-icAv of
Federal taxation.
BUT THINGS HERE CONSUMED; WITH INLAND AND SEAPORT COLLECTORS OF TAXES.
It is indirect taxes only which the Federal Government now IcA-ies,
and to Avhich, being thus xDi'actically restricted by those provisions of
the Constitution, it must look for its revenues, and its remissions whe'n
revenue outruns exxiense. It is out of indirect taxes that arise contentions about protection and free trade, as they arose before the war
when our debt was little and our expense so sinall that many thought
Congress might have abolished custom-houses, and no harm.
'' Free trade'' accurately describes the internal commerce of our States.
It applies to the cominerce, one Avith another, of ho other great and
sovereign States. It does not apply to our trade withforeign nations.
No man now living Avill ever see "free trade" adopted by these United
States in their commerce with foreign nations; for taxes on imports,
from the foundation of this Government, have ever been one chief source
REPORT OF THE SECRETARY OF THE TREASURY.
LI
of Federal revenue, and such v they will continue to be. They are
, taxes uxion consumption, like our internal-reA-enue taxes; and the imie
ground of choice among articles suitable for taxation is not the circumstance that they are xiroduced at home or inix3orted from abroad, for
neither the producer nor the imxiorter finally x^ays the tax. The consumer pays it.. The xilace of origin is no criterion. The x3lace,of collection is ho criterion. The place of consumption is where duties as
Avell as excise are X3aid at last; seaport taxes and inland taxes, are alike in
cost of collection, (3Y% and 3 ^ -per cent,,) and alike in this, that although
the importer or distiller advances the tax, he reimburses himself in the
price to the consumer, who alone is taxed. The true ground of choice is
that among all articles thus consumed within our own borders some are
better suited for an equitable taxation than others. They are uniA-er- '
sally consumed, like sugar, or easily identified, like coffee, or their consumxition may be safely impeded, like distilled spirits or ferniented
liquors or tobacco, or they are luxuries, like Avines, silks, and diamonds.
But of these,articles suitable for taxation, foreigri production affords
as many as home xiroduction, or more. Taxes on imports are levied
by all nations. Last year Englahd raised a revenue of $95,978,583 from
taxes QU imports; France, $68,616,325 ; Germany, $47,557,160. But no
foreigii nation taxes raw materials. " Such taxes injure home industries,
in which those materials are worked up and increased ^in A-alue by
home labor. Such taxes on raw materials, instead of excluding
foreign comxietition from, the Home market, pnt our own emxiloyers
of labor at a great disadvantage in the home market, and a greater
disadvantage in OA-ery foreign market, comx3a;red with the foreigner
enixiloying labor upon untaxed raw- niaterials. .
"Protection" is also a misnomer. It implies superiority elsewhere.
That' superiority OA-er any great industry of ours does.not' exist ux3on
the globe. It imx3lies infants here and adults elsewhere. Such is not
our reputation. It implies that amid comxietition uniA-ersal, Avhere the
fittest surviA-e, we shall perish. But it is everywhere else believed that
AvhencA-er we shall release ourselves frdni bad laws and enter that com-"
X3etitioii unmanacled, rivals Avill be distanced, and our primacy established in the markets and commerce of the world.
' Such is also my own belief, making alloAvance for those misleading
forms of speech A^-hich we seem obliged to use, but which state industrial
intercourse in terms of military strife. It is a mistake to conceiA-e it
so. In warlike encounters one may gain what another loses, but on the
whole, in industrial intercourse, every desired exchange is x^i'ofitable
to'both xiarties, and this relation of things exhibits the nature of property, and is a corner-stone of society,
^iv
'
'
.
LII
, REPORT OF THE SECRETARY OF THE TREASURY.
AMERICAN LABOR GETS, AND EARNS THE HIGHEST WAGES.
Now, pne proud fact attests ihe SL\bstaiice of our x)rosx3erity, and is
the guaran^ty as Avell as xiroof of our poAver to hold against all coiiix3etition the inarkets ofthe United States for eA-efything we choose to dig
or fabricate or grow, and to command and control for our surplus
products, against all rivals, any foreign market.. "
~
'
We x^ay to labor the highest wages in the Avorld. Highly-paid labor ~
signifies the most efficient labor-^sigriifies that high wages are the most
profitable wages—signifies thaf the high rate is earned: The highest,
Avages to the laborer thus involve and imxily the lowest x^.crcentage of
labor-cost in the x^r.oduct. But, other things being equal, the lowest
X3ercentage of labor-cost in an^- xiroduct is the guaranty that coiiix3etitioii, is outstripxied. - .
' .
^
^ Protectionists haA-e done sierA-ice "to humanity by insisting ux3on
the fact that we x^ay to labor the highest Avages in the Avorld. While
debate has.been going on whether our high Avages were because of taxa-;
tion or despite taxation, economists have discovered and demonstrated
.. the correlatiA-e fact that labor-cost in our x3roduct;S is the least in the
:world.
•
"
\
HIGH WAGES ENSURE LOW LABOR-COST IN PRODUCT.
'
\
Were trade as free Avith and Avithin all Ibhe ununited states of Europe
as it is among the United States of America,' the great surplus products
of. our industry, including the manufactured, would haA-e the pick of
foreigii markets, .for the reasoii that our labor, being the most. highly
paid and insuring lowest percentage of labor-cost, would everj-where
surpass rivalry. Great Britain would follow next, for next to our labor
hers is the highest paid, therefore the niost efficient, and therefore next
in effecting a low percentage of labor-cost in her chief products. France
.and Germany would follow next, and command the next unsux3X3lied
markets, and last'of all, at the foot of the list, quite unable to compete
Avith a single riA-al in whatcA-er that idA-al chose to produce, Avould come
the '' pauper labor'' of Europe and Asia. The IOAV Avages of X3auper labor
signify least efficiency, Avhich is but another name, for highest percentage of labor-cost in the xiroduct. Other things being equal, it is obvious that high wages can never'be paid unless it is profitable to x^aj- them,
and it can' only be a good business to pay the highest Avages, because the
efficiency of those' who earn them vindicates its superiority by the reduction of labor-cost in the product.
;
'
• High wages to labor and cheaper product are correlative terms^ Low
wages to labor and a costlier product are correlative terms. \ The one im-,
-. REPORT OF THE SECRETARY OF THE TREASURY.
LIII
plies the othei: Avherever labor competes withlabor upon otherwise equal
"grburid. What X3a,uper stands any ch,ance competing with the intelligent
artisan? T h e ' ' x3auper-labor-of-Europe'' cry is a bugaboo, excex3t that, "in
truth, our Avar-tariff taxes favor '' X3aux3er-labor'' at the expense of Ameri-.
can labor. Its products are not fenced out by our tariff laws. They come
in because we ourseh-es destroy our OAVII easy xiower of successful comx3etition, even in our home market. By tariff' taxes on raw materials wp fence
in our own surxilus xiroducts, making them cost too much to compete ,at
home, and, of course, too much to compete abroad, with manufactures
from untaxed raw materials. In Mexico, Central and South America,,
we can of course make no better headAvay against European comx3etitioii than at home. Dixilomacy is not an acceptable substitute for
trade and its laAvs. Our highly-paid labor ensures the lowest xiercentage of labor-cost in the product, but pur tariff* taxes uppn raAv materials handicax3 American, manufacturers with the highest percentage
of cost of material in the product. The result is that caxiital and
labor united in our Anierican industrial products, desxiite our adA-aii-.
tage in the most highly-xiaid and efficient labor, are x^nt into a hox3eless
comx3etition Avitli the industrial xiroducts of ' other nations, none of
which taxes raw materials. The advantage AA-C possess in the most
efficient and highl3--x3aid labor in fche world is nullified by the'self-imXiosed disadvantage of tariff-taxed raw material, Avith which our labor is
inwrought.
. ^
OUR SUICIDAL TAXES ON RAAV^ MATERIALS.
The total A-alue of our domestic exx3orts for the last fiscal year was
almost exactly $666,000,000, of which 86 x^er cent, were the x:)i'pducts of
our fields, foiiests, fisheries, and niines, and 16 per cent, only Avere the
sum total of manufactured x>roducts in which American labor was inwrought.
In the last quarter of a century, progress in telegraphs, transportation,
labor-saving iuA-entions, and the mechanic arts has reduced the profits of v
cax3ital and the rate of interest by more than one-half; has increased
the wages ^of labor throughout the world; has augmented by at least a
. third the surplus Avhich pur manufacturers can produce beyond domestic needs for sale abroad. Prolonging without necessity our Avartariff' taxes on raw niaterials, we have been undersold and excluded
from foreign markets by nations not taxing raw materials. Despite
their low-priced inferior labor, and the high percentage of labor-cost
therefore included in their product, our taxed raw materials and their
free raw materials have jirotected the so-called "x3aux3er labor", of
Liv
REPORT OF THE SECRETARY OP TIlE TREASURY.
Euroxie against American competition. Our increasing cax3acity to
produce an industrial surx^lusage has been accompanied by war taxation, exacth- suited to. prevent the sale of that surplusage in foreigii
markets. .Out of. our actual abundance this war taxation has forged
the instrument of our industrial and commercial mutilation. Defeating
our manufacturers in'their eiideaA-or to compete abroad with the nianufacturers of untaxed raAv materials, it has set them on a ferocious .
conix3etition at cut-throat x^idcesin our OAVII home market, to Avhich they
are shut uxi, and for AA-hich* their producing xiowers are increasingly
superabundant. Long periods of glut and so-called overproduction
have alternated with brief xieriods of rencAved activity and transient
X3rosx3erity like the xiresent. These prolonged war-tariff taxes, incom->
petent and brutal as a, scheme of revenue, fatal to the extension of our ,
'foreign markets, and disorderly- to our domestic trade, have, in the last
resort, acted and reacted Avith most ruinous injury upon our Avageearners. As the more numerous x^art of our x^oxiulation, our Avageearners are of course the first, the last, arid the most to be affected by
injurious laws. EA-ery government by true statesmen will watchfully
regard their condition and interests. If these are satisfactory, nothing
eli^e can be of A-ery momentous imx3ortaiice; but our so-called xirotective statesmanshixi has disfavored them altogether. Encumbering
with clumsy lielx3 a fcAv thousand emx3loyers, it has trodden down the
millions of wage-earners. It has for twenty-one years denied them
CA-en the peaceable fruits of liberty. •
.
SCHEMES OF TAXATION TO PREVENT REVENUE.
, Some A\-]ios'e mistaken A-iew of their own interests has thus far pro' longed ^our war taxation admit the necessity o!f its reduiction, and x^roX30se to cut doAvn the Federal revenue by raising still higher the rates
of the war. tariff, until by their xirohibitory action they effect a mPre
complete exclusion of iniported commodities, Avhich their fellow-citizens
desire to buy Avith the products of American industry.
There are several obj ections to such a scheme. It is '' protection'' in deed, and, like "free-trade," Avould prcA-ent revenue on imx3orts. B u t '
Ve need j ust now tp get $150,000,000 from taxation on imxiorts. What is
worse, it would continue the exclusion of the surx3lus xiroducts of American industry from foreign'markets, and so xirevent the natural diversi^ fying of, our industries. It therefore Avould x^ostxione or prcA-ent the
larger and uninterinittent e'mplo^-ment of Anierican wage-earners* in
XiroductiA-e industiy. It Avould cut down the receipts of the Treasury
but continue the multixilied indirect and incidental taxation leA-ied uxion,
REPORT OF THE SECRETARY OF THE TREASURY.
LV
our" whole x30X3ulation through xirices enhanced by the higher tariff
tax, yet noAvhere able^ to be sx3ent by any emx^lo^-er of labor in raising the
Avages of labor; for it would subject the employers themselves to another
course of high x3rofits, iiiA-iting an excess of ncAv-comers, entailing overXiroduction for the home market, reckless .competition,. with no es- '
tablished outlet, in working off the surxilus x^i^oduct; agreements to
restrict xiroduction in order to keexi ux3 xirices; then the discharge of
labor by the enix3loyers Avho go to the wall; intermittent and diminished
employment of labor by those who combine to prevent pverproduction, '
and^ last of all, desperate comx3etition for employment by the wageearners themseh-es; hoxieless strikes, and x3rofitable lockouts.
An official analysis of the last census (Apxiendix D) discloses that
of the 17,392,099 xiersons in the United States then engaged in gainful
Avork, (now 20,000,000,) about 95 per cent, cannot be subjected to
foreigii comxietition, and about 5 x^cr cerit. are all who cari be, or,
rather, whose employers ca:.n.
Last 3-ear $192,905,023 Avas the increa'se.of xirice we paid on commodities imported hither, and here consumed,—from taxes on iniports,
(except oxiiuni, dates, a fcAv chemicals, etc.,) incidentally benefiting the
employers of 1,000,000 x'>crsons here employed in xiroducing the like
commodities for general consumxition here, by the tax-handicaxi on
foreigii conix3etitors, raising their xirices. '
.
' . . V
On the other hand, 19,000,000 persons, paying nineteen-tw^entieths of
those tax-increased prices, and X3ayi,ng also iiineteen-tAventieths of any
enhanced xirices of the domestic product thus guarded against, conixiC:
tition, were themselves engaged in other gainful work by its nature not
subject tp a i y foreign comx3,etition, and could therefore obtain no such
incidental benefit, but only loss, by taxation.
,
;
, The x3rox30sition to enlar^'e for the employers of 1,000,000 .x3ersons '
this incident of taxation on iniports, unavoidable Avherever theinland
tax and seax30rt tax are not the same on each taxed commodity;, the proxiosition to make this unequal incident the actual x)urx30se of our taxation of,
them and the 19,000,000 persons who could only suffer, not,enjoy,, is
not a x^roxiositipn " t o lay and collect taxes for the general Avelfare,"~
nor is it conformed to the sx3irit of the laAv that '' all duties, imxiosts and
excises, shall be uniform throughout the United States."
•
THE CHEAPEST AND BEST TAXES TO RETAIN.
Another x)rox3osal is to reduce taxation by cutting doAvn the tax on
, whisky, tobacco, and beers, and removing the duty on sugar.
Nobody pays a tax on tobacco excexit the consumers of tobacco.
They are willing to pay for the luxury, and they ask no relief Any
LVI
REPORT OF THE SECRETARY OF THE. TREASURY,
probable reduction of the tax Pn A\-hisky would be more likely to increase the revenue than to diminish it. ; The price of sugar -has
fallen to an exceedingly cheap rate. ' Our OAVII sugar-crop is so v^ry'
sniall a x^art ofthe total amount of sugar we consume, that su^ai:* ranks
' next to articles wholly xiroduced abroad, like tea and coffee, in suitability for taxation, on the ground that its consumxition is universal, that
the tax is easily and cheaply collected, that the increased xirice x^aid by
the consumers is an unconsidered trifie, and that what is taken from
the tax-payers goes into the tax-payers' Treasury, not into a few
X3riA-ate bank accounts.
Like the casting-away of therevenue from coffee and tea in 1872, the
rempval ofthe tax on sugar, which gives us our easiest and next to largest
single item of reA-enue, ($51,7-78,948,) at an. annual cost of less than 9.0
cerits per head, is now pressed forward, to aA-ert the repeal of other
taxes which are desired f p operate an incidental and xirivate benefit by
enhanced prices to the domestic consumers of a large domestic product. These incidental and private benefits, in fact are subject to all
the deductions I' have already mentioned, and are subject to the' chief
deduction that the endeaA-or to make our tax-laws exclude foreign
comxietition in our home markets promotes the success of that .comX3etition, besides effectually prcA-enting the sale of our surplus product,
our labor-product, in foreigii markets. ~ But the incidental benefit of
the sugar tax to our cane-sugar producers, who are under the harroAv of
beet-root sugar comx3etitioh and German bounties, which have driven
them to improved processes and already lowered the price of sugar
more than removal of the whole tax, is not got by excluding foreiign
sugar, for the great bulk of our sweetening comes from, climates more
troxiical than ours. Nor does it x^rcA-ent our sales in foreign markets
of iriix3orted sugar refined and increased in A-alue by the processes of
Anierican labor.
^
MORE INCOME FOR AVAGE-EARNERS BY DROPPING WORST TAXES.
The .taxes to be first remitted are those which prcA-ent or hinder the
saleof our surplus xiroducts in foreign markets. ,, Their removal will
set caxiital in motion by the xiromise of better returns, enlarge the steady
employment and increase the annual income of many thousand wageearners, whose xirosperity will diffuse x3rosperity. These taxes are the
duties on raw materials, and the most Avidely injurious of them is the
tax upon raAV wool. But the income of all the Avage-earners in the United
States can be at once enlarged effectiA-ely, certainly, xiermanently, by
reducing the cost to them of the great necessities of life. Our war-tariff
REPORT OF THE SECRETARY OF THE TREASURY.
LVII
taxes, increase needlessly the cost of clothing, shelter, food, to CA-eiy
family. Every Avage-earn er's expense, every tax-payer's exx3ense, for
the clothing of himself tad his family is nearly doubled, at least iri the
Northern, Middle, and Western States, b^- taxation which can noAv be
remitted, yet leaA-e the Treasury a sufficient revenue.
The duty on raAv AVOOI x^rocured^ for the Treasuiy hivSt year only
$5,126,108. The cost of woollen clothing for our 59,000,000'people was
thereby and otherwise enhabuced many times morethan 90 cents a head) ^
the only cost of our $51,778,948 reA-enue.from sugar. Moreover, any tax
on raAV wool imx3orted will always make doniestic wool-raising a bad bjasiness, for in our dry climates some A-arieties of wool required by the manufacturer are not produced^ The tax prcA-ents our manufacturers from
comxieting in foreign markets with all manufacturers who can buy untaxed
wool. The tax prcA-ents our manufacture and export of competing woollens that require the use or admixture of non-American wools, and so
restri'cts the home demarid, and the groAvth of the home demand, for
domestic wool—thus making the export of our domestic woollens
impossible, yet involving t i e enhanced price of foreign and domestic ^
''woollens. This x^ctty tax of $5,126,108 On raw wool assists in neaiiy
doubling the actual cost of their clothing to the American people, with
no^real and no incidental benefit to anybody excexit the foreign manufacturer.
. ,
UNTAX THE CLOTHING OF SIXTY MILLION PEOPLE.
I respectfully recommend to Congress that they confer upon the wag^eearners of the United States the boon of untaxed clothing, and in order
thereto, the immediate passage of an act simply and solely placing raw
wool upon the free-list.
_
'
Of course, a repeal - of the duty On raw wool should be followed by,
but need not wait for, a compensating adjustirient of the duties on man/Ufactured woollens, whilst our manufacturers are learning,the lesson
that with' the highest paid and most effipient labor in the world, with
the most skilled management aiid the best inventive appliances, they
need fear no cofipetition from any rivals in the world, in home or foreign markets, so long as they can buy their wools free, of every kind.
But the common daily clothing of the American x3eople need not be
taxed; therefore, it ought not to be taxed ; to free their clothing of taxes'
will finally reduce, by half, their expense forsone of the three great,
necessities of life, and thus enlarge honestly and justly the income of
every wage-earner in the United States,
LVIII
REPORT OF THE SECRETARY OF THE TREASURY.
^
FREE WOOL.
But this reduction of unnecessaiy and inj urious taxation isnot enough,
and Avill oxierate sloAvly in diminishing rcA-ehue. Last year's import
tax bn raw AvooVis little more than the mere growth last 3-ear of oui'
taxes from whisky, tobacpo, and beer. To make wool free, of tax may
finally work a larger loss of revenue by enabling our'woollen manufacturers to undersell at a profit the foreign imx3orters Avho brought in
last year $40,536,509 worth of manufactures of wool, from Avliich Ave- got
a.faxof$27,278,528. , . . .
,
' . '
To say nothing of other taxes upon raw materials, (Ax3pendix E,) there
are several hundred articles among the 4,182 articles that we tax, which .
ought at once to be SAvept pff the tax list into the free-list,—x^ctty, A-exatioiis, needless taxes, much enlarging the cost of collecting the. revenue
from imx3orts. In Axixiendix F will be found an itemized statement of
thfe'revenue from taxes during the fiscal year 1886, I shall at an-early
day, x:>rcpare and submit to Congress a sux3X3lementary report on the col-"
lection, of duties.
f . ,
'
'
DANIEL MANNING,
'
Secretary of the Treasury.
The Honorable
T H E SPEAKER OF THE H O U S E OF EEPRESENTATIVES.
TABLES ACCOMPANYING TEE REPORT ON THE FINANCES.
LIX
H. Ex. 2
V
T A B I i E A.—STATEMENT ofthe OUTSTANDING PBINCIPAL ofthe PUBLIC DEBT ofthe UNITED STATES, June 30, 1886.
Length of
loan.
Price Amount authorWhen redeem- Bate of in- atwhich
Ainount outAmount issued.
atanding.
terest.
able.
ized.
sold.
W
OLD DEBT.
On demand . . . 5 and 6 per
cent.
For detailed information in regard to the earlier loans embraced under this head, see Finance Report for 1876.
Indefinite.
$57, 665 00
TREASURY NOTES PRIOR TO 1848.
Acts of October 12, 1837 (5 Statutes, 201); May 21, 1838 (5 Statutes,
228) r March 2,1839 (5 Statutes, 323); March 31,1840 (5 Statutes, 370)
February 15,1841 (5 Statutes, 411); January 31,1842 (5 Statutes, 469)
August 31,1842 (5 Statutes, 581); and March 3, 1843 (5 Statutes, 614)
l a n d 2 years 1 and 2 years JS of 1 to 6
per cent.
from date.
Par.
$51, 000,000 00
$47,002,900 00
82, 425 35
w«
o
H
O
W
TREASURY NOTES OF 1846.
Actof July'22, 1846 (9 Statutes, 39)
1 year
1 year
date.
from f j j o f l t o 5 | P a r .
per cent.
5 years
5 years from
date.
10,000, 000 00
7, 687. 800 00
5,900 00
o
320, 000 00
303, 573 92
1,104 91
H
l>
23, 000, 000 00 *26,122,100 00
950 00
23, 000, 000 00 128, 230, 350 00
1,250 00
W
MEXICAN INDEMNITY,
Act of August 10, 1846 (9 Statutes, 94)
5 per cent.
Par.
TREASURY NOTES OF 1847.
1 and 2 years 1 and 2 years 5 | and 6 per
cent.
from date.
A c t o f January 28, 1847 (9 Statutes, 118)
Par.
Hi
O
LOAN OF 1847.
.20 years
Actof January 28, 1847 (9 Statutes, 118).
BOUNTY-LAND SCRIP.
.
A c t o f February 11, 1847 (9 Statutes, 125)
T E X A N I N D E M N I T Y STOCK.
A c t of September 9,1850 (9 Statutes, 447)
>
TRE ASURY NOTES OF 1857.
Act of December 23, 1857 (11 Statutes, 257)
LOAN OF 1858.
A c t o f J u n e 14, 1858 (11 Statutes, 365)
* Including reissues.
January 1,1868 6 per cent... Id to 2
percent,
prem'm.
Indefinite .. A t the pleas- 6 per cent... Par
ure of the
Government.
Indefinite.....
233,075 00
3,175 00
H
10, 000, 000 00
5,000,000 00
20, 000 00
a
w
52,778, 900 00
1,700 00
14 years
January 1,1865 5per cent... P a r .
lyear
1
15 years
January 1,1874 5 per cent... Average 20,000, 000 00
20, 000, 000 00
prem'm
of3j^V
tIncluding conversion of Treasury notes.
year
date.
from 3 to 6 per
cent.
Par.
H
Indefinite
—
Hi
2,000 00
1-^
T A B J L E X.—STATEMENT of the OUTSTANDING P B I N C I P A L of the P U B L I C DEBT, ^c—Continued.
Length of
loan.
When redeemable.
Price
Amount authorRate of in- atwhich
Amount outAmount issued
ized.
terest.
Htanding.
sold.
LOAN OF 1860.
A c t of J u n e 22, 1860 (12 Statutes, 79)
tg
10 years . . .
January 1,1871 5 p e r c e n t .
P a r to $21,000,000 00
1^0 per
ct. pr'm.
$7, 022, 000 00
$10,000 00
o
18,415, 000 00
8,000 00
O
H
LOAN OF FEBRUARY, 1861 (18818).
Act of February 8, 1861 (12 Statutes, 129)
'
10 or 20 years Dec. 31,1880 .
6 percent.
(Av.)89.03
25,000,000 00
^^
TREASURY NOTES OF 1861.
Act of March 2,1861 (12 Statutes, 178)
60 days or 2
years.
60 days or 2
years after
date.
6 p e r c e n t . . . P a r to IndefiniteWuPer
ct. pr'm.
20 years . -.
July 1,1881 .
6 per cent-
Par.
20 years . . . After J u n e 30, 6 per cent.
1881.
Par.
35, 364, 450 00
3,000 00
2,800,000 00
1,090,850 00
3,950 00
250. 000,000 00
189,321, 350 00
153,750 00
W
OREGON WAR DEBT.
Act of March 2,1861 (12 Statutes, 198)
LOAN OF J U L Y AND AUGUST, 1861.
T h e 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, i edeemable 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 the act of July 17, 1861.
O
H
t>
Hi
O
>^
H
. LOAN OF J U L Y A N D AUGUST, 1861.
pa
•Continued at 3 J per cent, interest, and redeemable at~the pleasure of Indefinite..
the Government.
At the pleas- 3^ percent.. P a r .
ure of the
Govemment.
105,850 00
OLD DEMAND NOTES.
A c t s of J u l y 17, 1861 (12 Statutes, 259); August 5, 1861 (12 Statutes,
313); February 12, 1862 (12 Statutes, 338).
Indefinite..
Ondemand . . . None .
Par.
60,000,000 00
*60,030,000 00
67,445 00
QQ
SEVEN-THIRTIES OF 1861.
A c t o f July 17, 1861 (12 Statutes, 259)
3 years.
FIVE-TWENTIES OF 1802.
Acts of February 25, 1862 (12 Statutes, 345), March 3,1864 (13 Statutes,
13), and January 28, 1865 (13 Statutes, 425).
Aug. 19 and 7 ^ per cent.
Oct. 1,1864.
5 or 20 years. May 1,1867..
Indefinite
139,999,750 00
15,800 00
514,771,600 00
•268,350 00
Tooo*
6per c e n t . . . Av.pre.of 515, 000,000 00
LEGAL-TENDER NOTES.
The act of February 25, 1862 (12.Statutes, 345), authorized the issue of
$150,000,000 United Statesnotes,notbearinginterest,payable to bearer
at the Treasury of the United States, and^f such denominations, not
less than five dollars, as the Secretary of the Treasury might deem
expedient, $50,000,000 to be applied to the redemption of demand
notes authorized by the act of July 17, 1861; these notes to be a legal
tender in paymentof all debts, public and private, within the United
States, except duties on imports and inierest 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 denominations as the Secretary of the Treasury
might deem expedient, but no such note should be for a fractional
part of a dollar, and not more than $35,000,000 of a lower denomination than 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 of the Treasury might prescribe; whieh
notes were made a legal tender as before authorized. The saoie act
limited the time in which the Treasury notes might be exchanged for
United States bonds to J u l y l , 1863. The amount of notes authorized by this act were to be in lieu of $100,000,000 authorized by the
resolution of January 17, 1863 (12 Statutes, 822).
Indefinite.
On demand
None
Par.
346,681,016 00
450,000,000 00
o
w
o
w
o
>
Hi
o
TEMPORARY LOAN.
A c t s o f Februarv 25, 1862 (12 Statutes, 346), March 17, 1862 (12 Statutes, 370), July 11, 1862 (12 Statutes, 532), and J u n e 30, 1864 (13 Statutes, 218^.
Indefinite..
After ten days' 4, 5, and 6
notice.
per cent.
Par.
1 year
date.
Par.
150,000, 000 00 *716,099,247 16
2, 960 00
hJ
CERTIFICATES OF INDEBTEDNESS.
P^
Acts ofMarch 1,1862 (12 Statutes, 352), May 17,1862 (12 Statutes, 370), • 1 year.
and March 3, 1863 (12 Statutes, 710;.
. .
FRACTIONAL CURRENCY.
J»
No limit.
561,753,241 65
,
Acts of J u l y 17, 1862 (12 Statutes, 592), March 3,1863 (12 Statutes, 711),
and J u n e 30,1864 (13 Statutes, 220).
after 6 per cent..
Indefinite... On presentation.
* Including reissues.
None .
Par.
50,000,000 00
'368,720,079 51
6,054,087 52
M
X
T A B L E A.—STATEMENT ofthe OUTSTANDING PBINCIPAL of the PUBLIC DEBT, ^c—Continued.
Length of
loan.
When redeem- Rate of in- atPrice
outwhich AmountanthorAmount issued, Amomit
able.
terest.
ized.
standing.
sold.
LOAN OF 1863.
The act of March 3, 1863 (12 Statutes, 709) authorized a loan ot 17 years..
$900,000,000, and the issue of bonds, with interest not exceeding 6
per centum per annum, and redeemable in not less than ten nor
. more than forty years, principal and interest payable in coin. The
actof J u n e 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 continued at 3^ per cent, interest, and redeemable Indefinite..
at the pleasure of the Government.
J u l y l , 1881
6 per cent.. Average $75, 000,000 00
premium of
4M%
A t the pleasure 3i per cent.
of the Government.
Par.
1 year
1 year after 5per cent..
date.
Par.
400,000,000 00
2 years
2 years after
date.
5per cent-.
Par.
400, 000, 000 00
Indefinite..
On demand.
None..
Par.
Indefinite
6 per cent,
compound.
Par.
$75, 000, 000 00
$31, 650 00
O
O
15, 650 00
•W
ONE-YEAR NOTES OF 1863.
Act of March 3, 1863 (12 Statutes, 710) '.
44, 520, 000 00
36,795 00
TWO-YEAR NOTES OF 1863.
Act of March 3, 1863 (12 Statutes, 710)
166,480, 000 00
cc
o
29, 750 00
GOLD CERTIFICATES.
Act of March 3, 1863 (12 Statutes, 711)
131,174, 245 00
COMPOUND-INTEREST NOTES.
Acts of March 3, 1863 (12 Statutes, 710), and June 30,1864 (13 Statutes,
218).
TEN-FORTIES OF 1864.
A c t o f March 3, 1864 (13 Statutes, 1 3 ) ^ . . ;
3 years
3 years from
date.
400, 000, 000 00
Hi
o
266, 595, 440 00
197,170 00
W
10 or 40 years March 1,1874.. 5 per cent... Par to 7 200, 000, 000 00 196,118. 300 00
per ct.
prem.
85,100 00
"H
44, 250 00
a
F I V E - T W E N T I E S OF J U N E , 1864.
A c t o f June 30, 1864 (13 Statutes, 218)
5 or 20 years. Nov. 1,1869.
SEVEN-THIRTIES OF 1864 AND 1865.
Acts of J u n e 30, 1864 (13 Statutes, 218), January 28, 1865 (13 Statutes,
425), and March 3, 1865 (13 Statutes,* 468).
3 years....
6per cent... Ar.prem. 400, 000, 000 00 125,561, 300 00
Aug. 15, 1867 1
June 15,1868 > 7^0 per c't I Av.prem. ^800, 000, 000 00 829,992,500 00
July 15,1868 J
OfyBlo
QQ
130, 300 00
NAVY PENSION FUND.
Digitized for Tbe
FRASER
act of July 1, 1864 (13 Statutes, 414), authorized the Secretary of Indefinite... Indefinite
3 per cent...
Par
Indefinite
14,000,000 00
J4,000,000 00
tbe Navy to invest in registered securities of the United States so
much of the Navy pension fund, in the Treasury January 1 and July
1 in each year as would not be required for the payment of naval
pensions. Section 2 of the act of Juiy 23,1868 (15 Statutes, 170), fixed
the interest on this fund at 3 per centum per annura in lawfulmoney,
and confined its use to the payment of naval pensions exclusively.
FIVE-TWENTIES OF 1865.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
203,327,250 00
36,850 00
6 p e r c e n t . . . Av. prem. Indefiniteof 3xVaV
332, 998,950 00
212,350 00
5 or 20 years- J u l y l , 1872... 6 per cent.. Av.prem.! Indefinite.
of li^ff '
379,618,000 00
447,150 00
5 or 20 years. Nov. 1,1870... 6 per cent.
Av. prem Indefinite.
of 2XWTJ
CONSOLS.OF 1865.
Acts of March 3, 1865 (13 Statutes, .468), and April 12, 1866 (14 Statutes, 31).
5 or 20 years- July 1, 1870.
O
o
CONSOLS OF 1867.
Acts of March 3, 1865 (13 Statutes, 408), and April 12, 1866 (14 Statutes, 31).
OQ
o
CONSOLS OF 1808.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
THREE-PER-CENT. CERTIFICATES.
5 or 20 years. July 1,1873.
6 p e r c e n t . . . I Av. prem. Indefinite-
Acts ofMarch 2, 1867 (14 Statutes, 558), and July 25, 1868 (15 Statutes,
- 183).
Indefinite... On demand .
3 per cent.
42,539,350 00
74,550 00
*85,155,000 00
5,000 00
>
Par.
75,000,000 00
F I V E P E R C E N T . LOAN O-F 1881.
T h e a c t o f January 14, 1875 (18 Statutes, 296), authorizes the Secretary of the Treasury to use any burplus revenues from time to time
in tho Treasury not otherwise appropriated, and to issue, sell, dispose of, at not less tban par, in coin, cither of the description of
bonds ofthe United Stales described iu the act of July 14, 1870 (16
Statutes, 272), to the extent necessary for the redemption of fractional currency in silver coina of tho denominations of ten, twentyfive, and fifty cents of standard value.
The act of March 3, 1875 (18 Statutes, 466), directs the Secretary of
the Tieasury toissuebondsof the character and description set out
in the net of July 14, 1870 (P> Statutes, 272), to James B. Eads, or his
legal representatives, in payment at p a r o l the warrants of the Secretary of War for the coustruction ot jetties and auxiliary works to
maintain a wide and deep channel between the South Pass of the
Mississippi Kivor and the Gulf of Mexico, unless Congress shall
have previ<:)usly jirovidcd for the paymentof the same by the necessary appropriatiou of money.
Hi
* Including reissues.
X
T A B L E A.—STATEMENT of the OUTSTANDING PBINCIPAL of the PUBLIC DEBT, ^c—Continued.
Length of
loan.
authorWTien redeem- Rate of, in- atPrice
oatwhich Amount
Amount issned. Amonnt
ized.
able.
terest.
standing.
sold.
The. act of July 14, 1870 (16 Statutes, 272), authorizes the issue of SIO y e a r s . . . May 1,1881... 5 per cent.
$200,000,000 at 6 per centum, pi-incipal and interest payable in coin
of the present standard value, at the pleasure of the United States
Govemment, after ten years*; these bonds to be exempt from the
payment of all taxes or duties of the United States, as weU as from
taxation in any form by or under State, municipal, or local authority.
Bonds and coupons payable at the Treasury of the United States.
This act not to authorize an 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 redemption of outstanding 5-20*8, or to
be exchanged for said 5-20's, par for par. Payment of these bonds,
when due, to be made in order of dates andnumbers, beginning with
each class last dated and numbered. Interest to cease at the- end
of three months from notice of intention to redeem. The act of January 20, 1871 (16 Statutes, 399), increases the amount of 5 per cents
to $500,000,000, provided the total amount of bonds issued shall not
exceed the amount originally authorized, and authorizes the interest
on any of these bonds to be paid quarterly.
The act of December 17,1873 (18 Statutes, 1), authorized theissueof an
equal amount of bonds of the loan of 1858, which the holders thereof
may, on or before February 1, 1874, elect to exchange for the bonds
of this loan.
FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891. (REFUNDING.)
The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of 15 years — Sept.1, 1891.
4J per cent.
$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 bonds to be exempt from the payment of all
taxes or duties of the United States, as well as from taxation in any
form by or under State, municipal, or local authority. Bonds and
coupons payable at the Treasury of the United States. This act not
to authorize an increase of the bonded debt of the United States.
Bonds to be sold at not less than pair in coin, and the proceeds to be
applied to the redemption of outstanding 5-20's, or to be exchanged
for said 5-20's, par for par. Payment of these bonds, when due, tp
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.
FOUR-PER-CENT. LOAN OF 1907.
$517,994,15000
$148,700 00
) years .
July 1,1907.
4 per cent..
o
H
O
W
o
w
w
> $1,500,000,000 00
Hi
o
Par.
185,000,000 00 185,000,000 00
w
W
QQ
(REFUNDING.)
The act of J u l y 14, 1870 (16 Statutes, 272), authorizes the issue of
^ $1,000,000,000 at 4 per centum, payable in coin of thepresent standard
Par.
<1
P a r to
one - half
708, 980, 800 00707,259,700 00
value, at the pleasure of th« United States Govemment, after thirty
years; these bonds to be exempt from the payment of all taxes or
duties of the United. States, as well us from taxation in any form by
or under State, municipal, or local authority. Bonds and coupons
payable at the Treasury of the United States. This act not to authorize an 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 redemption of outstanding 5-20's, or to be exchanged for said
5-20's, 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 a t t h e end of three months from
noticeof intentiou to redeem. SeeRefundingCertlficates,pagexcviii.
FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891. (RESUMPTION.)
The act of January 14, 1875 (18 Statutes, 296), authorizes the Secretary
of the Treasury to use any 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 ofbonds of the
United States described in the act of July 14,1870 (16 Statutes, 272),
for the purpose of redeeming, on and after January 1, 1879, in coin,
at the office of the Assistant Treasurer of the United States in New
York, the outstanding United States legal-tender^notes when presented in sums of not less than fifty donars.
per cent
p r e mi um.
O
O
15 years.
Sept. 1,1891..
FOUR-PER-CENT. LOAN OF 1907. (RESUMPTION.)
The act of January 14, 1875 (18 Statutes, 296), authorizes the Secretary 30 years..
J u l y l , 1907.
ofthe Treasury to use any surplus revenues from time to time i n t h e
Treasury not otherwise appropriated, and to issue, seU, dispose of,
at not less than par, in coin, either of the description of bonds of
the United States described in the act of July 14, 1870 (16 Statutes,
272), for the purposeof redeeming, on and after January 1, 1879, in
coin, at the office of the Assistaut Treasurer of the United States in
New York, the outstanding United States legal-tender- notes when
presented in sums of not less than fifty dollars.
• CERTIFICATES OF DEPOSIT.
The act of J u n e 8, 1872 (17 Statutes, 336), authorizes the deposit of Indefinite... On demand..
United States notes without interest by bankingassociations in sums
not less than $10,000, and the issue of certificates therefor in denominations of not less than $5,000; which certificates shall be payable
on demand in United States notes at the place where the aeposits
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 ahd counted by the national
banks as part of their legal reserve, and may be accepted in the
settlement of clearing-hous«Bbalances, 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.
4^ per cent.
P a r t o Indefinite .
one and
one-half
per cent
p r e mium.
65,000,000 00
65,000,000 00
m
CQ
o
4 per c e n t .
Par..
Indefinite.
30,500,000 00
30,500, 000 00
Hi
o
None.
Par-
No limit-,
64,780,000 00
18, 500, 000 00
T A B L . E A.—STATEMENT ofthe OUTSTANDING PBINCIPAL of the PUBLIC DEBT, ^c—Continued.
^
Length of
loan.
Price
When redeem- Rates of in- atwhich
able.
. terest.
sold.
Amount au- Amount issued. Amount outthorized.
standing.
:
SILVER CERTIFICATES.
The act of February 28,1878 (20 Statutes, 26, sec. 3), provides that any
holder ofthe coin authorized by this act may deposit thesame with
the Treasurer or any assistant treasurer of the United States in
sums not less than teri dollars and receive therefor certificates of
not less than ten dollars each, corresponding with the denominations
of the United States notes. The coin deposited for or representing
the certificates shall be retained in the Treasury for the payment of
' thesame on demand. Said certificates shall be receivable for customs,
taxes, and all public dues, and, when so received, may be reissued.
Indefinite... On demand . . . None
P a r . . . . . No limit .. .
$115, 977, 675 00
o
O
REFUNDING CERTIFICATES.
The act of Februarv 26. 1879 (20 Statutes, 321), authorizes the Secre• tary ofthe Treasiiry to'issue, in exchange for lawful money of the
United States, certificates of deposil, of the denomination of ten
dollars, bearing interest at the i ate of four per centum per annum,
and convertible at any time, with accrued interest, into the four per
centum bonds described in the refunding act; the money so received
to be applied only to the payment of the bonds bearing interest at a
rate not less than fiveper centum, in the mode prescribed by said act.
Indefinite... Convertible in- 4 p e r c e n t . . . P a r . . . . . No l i m i t . ! . . . . $40,012,750 00
to 4 per cent,
bonds.
207, 800 00
Hi
K!- •
O
FUNDED LOAN OF 1881. CONTINUED AT THREE AND ONEH A L F P E R 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
tho Treasury and the holders, and were made redeemable at the
pleasure of the Government.
QQ
O
Indefinite... A t pleasure of
the Govern
ment.
3^ per cent.. P a r .
Indefinite... At pleasure of
the Government.
3 percent... Par. ...
.
111, 950 00
Hi
to
LOAN OF J U L Y 12, 1882.
These bonds were issued in exchange for the five and six per cent,
bonds which had been previously continued at three and one-half
per cent., by mutual agreement between the Secretaiy of the Treasury and the holders, and were made redeemable at the pleasure of
the Government.
151 392 000 00
Ct
*1,775,063,013 78
•Exclusive of $64,623,512 bonds issued to Pacific railroads.
REPORT OF THE SECRETARY OF THE TREASURY.
LXIX
T A B L E IR.—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 STA TES on, the 1st of January of each y^ar from 1791 to 1843,
inclusive, and on the Ist of July-of each year from 1813 to 1886, inclasive.
Tear.
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
-Amount.
$75,463,476 52 Jan. 1,1840..'
.:.
.
1831
1832
1833
1834
1835
1836
1837
1838
1839
Year,
J
1841
•
77, 227, 924 66
1842
80,i352, 634 04
78, 427, 404 77
1843
•:..
80, 747, 587 39 Julyl, 1843
83, 762,172 07
1844
82, 064, 479 33
1845
79, 2iJ8, 529 12
1846
78, 408, 669 77
1847
82, 976, 294 35
1848
83, 038, 050 80
1849
80, 712, 632 25
1850
77, 054, 686 30
1851
86, 427,120 88
1852
82. 312,150 50
1853
75,723, 270 66
1854 .
. 69,218,398 64
1855
65,196,317 97
1856
57, 023,192 09
1857
53,173,217 52
1858
48, 005, 587 76
1859
45, 209, 737 90
I860
...
55, 962, 827 57
1861...;
81,487, 846 24
1862
99, 833, 660 15
1863
127, 334, 933 74
1864
123,491,965 16
1865
. .
103, 466, 633 83
1866
95, 529, 648 28
18G7
91,015,566 15
1868
89, 987,427 66
1869
1870
... -^ . 93, 546, 676 98
90, 875, 877 28
1871
90, 269, 777 77
1872
. . .
83,788, 432 71
1873....
81, 054, 059 99
• 1874
73, 987, 357 20
1875
67, 475, 043 87
1876
58,421,413 67
1877
48, 565,406 50
1878
39,123, 191 68
1879
.\
24, 322, 235 18
1880
.7, 001, 698 83
1881
4, 760, 082 08
1882
37, 733 05
1883
1884 :
37, 513 05
18-5
336, 957 83
3.308,124 07
1886
10,434,221 14
A.mount.
,
$3, 573, 343 82
5, 250, 875 54
13,594,480 73
..
20, 601 226 28
32, 742, 922 00
23, 461, 652 50
15,925,303 01
15,550,202 97
38, 826, 534 77
47, 044, 862 23
63,061,858 69
63,452,773 55
68, 304, 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
5.4,176,412 13
1,119,772,138 63
1,815,784, '-<70 57
2, 680,647, 869 74
2,773,236, 173 69
2, 678,126,103 87
2,611,687,851 19
2,588.4.52,213 94
2,480,672,427 81
2,353,211,332 32
2,25.3.251,328 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 10
*2, 256, 205, 892 53
*2, 349, 567, 482 04
*2, 120,415,370 63
•
*2. 069, 013, .569 58
*1, 918, 312, 994 03.
*1,884, 171,728 07
*1, 8:«), 528, 923 57
11,876,424,275 14
tl, 756. 445, 205 78
..
*In the amount here stated as the outstanding priucipal of the public debt are included tho certificates of deposit outstanding on the 30th of June, issued under act of J u n e 8, 1872, for which a like''
amount in United States notes was ou special deposit in the Treasury for their redemptiou, and added
to the cash balance in the Treasury. These certificates, as a matter of accounts, are treated as a part"'
of the public debt, but being offset by notes held on deposit f(»r their redemption, should properly be
deducted from the principal of the public debt iu making con: parison with foriner yenrs.
t Exclusive of gold, silver, and currency certificates held in the Treasurer's cash, and including
• $64,623,512 bonds issued to the several Pacific railroads.
T A B L E €:.—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, from tkdy 1, 1856, to July 1, 1886.
Year.
1856
1857
1858
1859
1860
1861 .1862
1863
1864
1865
1 8 6 5 — A u g u s t 31 .
1866..1867
1868
1869
1870
1871.....
1872
1873
1874
1875
1876
1877
1878...
1879.-^...1880
1881
1882
1883
1884...
1885
1886
3 per cents.
000, 000
66, 125, 000
59, 550, 000
45, 885, 000
24, 605, 000
14, 000, 000
14, 000, 000
14, OUO, 000
14, 000, 000
14, ooa, 000
14, 000, 000
14, 000, 000
14, 000, 000
14, 000, 000
14, 000, 000
318, 204, 350
238, 612, 150
208, 190, 500
158, 046, 600
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
3J per cents.
$460, 461, 050 00
32, 082, 600 00
4 percents.
4^ per cents.
$57, 926,116
105, 629, 385
77, 547, 696
90,496, 930
618,127
121, 341, 879
= 17, 737,025
801,361
57
30
07
74
98
62
68
23
678,
678,
678,
678,
678,
00
00
00
00
00
000,
000
000
000
000
08, 850;000
741, 522,000
739, 347,800
739, 347,800
739, 349,350
737, 942,200
737, 951,700
737, 960,450
737, 967,500
00
00
00
00'
00
00
00
00
00
$140, 000,000. 00
240, 000,000 00
250, 000,000 00
250, 000,000 00
'250, 000,000 00
250, 000,000 00
250, 000,000 00
250, 000,000 00
250, 000,000 00
250,000, 000 00
5 per cents.
$3, 632,000 00
3,489, 000 00
23, 538,000 00
37,127, 800 00
43,476, 300 00
33, 022,200 00
30, 483,000 00
30,483, 000 00
300, 213,480 00
245,709, 420 63
269,175, 727 65
201,982, 665 01
198, 533,435 01
221, 586,185 01
221, 588,300 00
221, 588,300 00
274, 236,450 00
414, 667,300 00
414, 567,300 00
510, 628,050 00
607,132, 750 00
711, 685,800 00
703, 266,650 00
703, 266,650 00
608, 440,350 00
484, 864,900 00
439, 841,350 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
1, 213,495,169 90
1. 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 ^ per cents.
$122,582, 485
139, 974,435
139, 286,935
671, 610,397
830, 000,000
813. 460,621
488, 344,846
37,397, 196
34
34
34
02
00
95
95
95
Total interestbearing debt.
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, 826 92
707, 531, 634 47
1, 359,930, 763 50
2, 221,311, 918 29
2, 381,530, 294 96
2, 332,331, 207 60
2, 248,067, 387 66
2, 202,088, 727 69
2,162, 060, 522 39
2,046, 455, 722 39
1, 934,696, 750 00
1, 814,794,100 00
1, 710,483, 950 00
1, 738,930,750 00
1,722, 676, 300-00
1, 710,685,450 00
1,711, 888, 500 00
1,794, 735, 650 00
1,797, 643,700 00
1, 723,993, K O 00
1, 639,567,750 00
1.463, 810,400 00
1,338, 229,150 00
1, 226,563, 850 00
1,196, 150, 950 00
1,146, 014,100 00
O
O
a
GQ
O
w
l-i
f>
o
1^
w
QQ
?^
T A B L E € . — A N A L Y S I S 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, ^c.—Continued.
Year.
1856—July 1 . . .
1857..
1858
1859
1860...
1861...
1862
1863.
1864
1865
1865—August 31
1866^ruly 1 . . .
1867
1868..
1869
1870.
1871
1872
1873
1874...
187.5
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
:.-
Debt on which in-| Debt bearing no Outstanding prin- Cash in the Treas- Total debt, less cash] Annual interest
in Treasury.
terest has ceased
interest.
cipal.
ury July 1.
charge.
$209, 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, 615 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
7, 881, 415 26
19, 656, 205 26
4,100, 995 26
9, 704, 445 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, 128 17
498,182,411 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
538,111, 162 81
584, 308, 868 31
663, 712, 927 88
619, 344,468 52
$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
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
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 10
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
1,884, 171, 728 07
1, 830,528,923 57
1, 863,964,873 14
1, 775,063,013 78
$21, 006 584
i 89
18, 701,2
210 09
7, Oil, 689
e 31
5, 091,603
e 69
4, 877,885
i 87
2, 862,!"
212 92
18, 863,1659 96
8, 421,401
- 22
106, 332, 093
< 53
5, 832,012
C 98
88, 218,055
r 13
137, 200,009
C 85
169, 974,892
^ 18
130, 834,437
4 96
155. 680,;340 85
149, 502,4471 60
106, 217,263
r 65
103, 470,'
798 43
129, 020,!
932 45
147, 541,314
3 74
142, 243,361
r 82
119. 469,726
7 70
186, 025,960
r 73
256,823, 612
e 08
249, 080,1
167 01
201, 088,622
f 88
249, 363,415
4 35
243, 289,519
£ 78
345, 389,902
r 92
391, 985,928
£ 18
488, 612,429
4 23
492, 917,:
173 34
$10, 965, 953 01
9,998,621 76
37,900,191 72
53,405, 234 19
59,964,402 01
87,718, 660 80
505, 312,752 17
1, 111,350,737 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, 538,781,825 15
1, 438,542, 995 39
1, 375,352,443 91
• 1, 282,145, 840 44
$1, 869,445 70
1,672,767 53
O
2, 446, 670 28
3,126,166 28
H
3, 443, 687 29
5, 092, 630 43
O
22, 048, 509 59
41, 854,148 01
78, 853, 487 24
137. 742, 617 43
te
150, 977, 697 87
146, 068,196 29
138, 892,451 39
m
128, 459, 598 14
125, 523, 998 34 .
a
118, 784, 960 34
111, 949, 330 50
103,988, 463 00
98, 049, 804 00 • H
98,796,004 50
96, 855, 690 50
95,104, 269 00
93,160,643 50
94, 654, 472 50
83, 773, 778 50
79, 633, 981 00
75, 018, 695 50
57, 360, 110 75
51,436, 709 50
47,926, 432 .^0
H
47,014,133 00
45, 510, 098 00
NoTK 1.—The annual interest charge is computed upon the amount of outstanding principal at the close of the fiscal year, and is exclusive of interest charge on Pacific
•railway bonds,
NOTE 2.—rhe figures for July 1, 1879, were made up assuming pending funding operations to have been completed.
K OTE 3. —The temporary loan, per act of July 11,1862, is included in the 4 per cents from 1862 to>] 1868,
'^'"^ "inclusive,
' '
with the exception of the amount outstanding for August
31, 1865, this being the date at which the public debt reached its highest point." This loan bore interest from 4 per cent, to 6 per cent., and was redeemable on ten days' notice
after thirty days; but being constantly changing, it has been considered more equitable to include the whole amount outstanding as bearing 4 per cent, intereston an average
for the year,
'
^
NOTE 4.—In the recent monthly statements of the public debt the interest accrued has been added to the principal, making the net debt larger in that amount than the
.amount herein stated for each year.
>
o
te
>
cl
Kj
LXXII
REPORT OF THE SECRETARY OF THE TREASURY.
T A B L E J^.—STATEMENT of the I S S U E and B E D E M P T I O N of LOANS and
TBEASUBY NOTES (ly warrants) for thefiscal year ended June 30, 1886.
Issues.
Oregon war debt, act ofMarch 2,1861.
Loan of July and August, 1861, acts
of July 17 and August 5, 1861
Old demand notes, acts July 17 and
August 6, 1861. and February 12,
1862
Five-twenties of 1862, act of February 25, 1862
Legal-tender notes, acts of February
25 and July 11,1862, January 7, and
March 3, 1863 '.
$63, 000, 000 00
Gold certificates, acts of March 3,
1863, and July 12, 1882
1, 040, 000 00
One-year notes of 1863, act of March
3, 1863
Two-year notes of 1863, act of March
3, 1863
-.
Compound - interest notes, act's of
March 3, 1863, and June 30, 1864 ...
Loan of 1863, acts of March 3, 1863,
. and June 30, 1864
Ten-forties of 1864, act of March 3,
1864
Five-twenties of June, 1864, act of
June 30, 1864
Seven-thirties of 1864 and 1865, acts
of June 30,1864, and March 3,1865..
Seven-thirties of 1861, act July 17,
1861
Treasury notes prior to 1846
Five-twenties of 1865, act of March
3, 1865
Consols of 1865, actx)f March 3,1865..
Consols of 1867, act ofMarch 3,1865..
Consols of 1868, act ofMarch 3,1865..
Fuuded loan of 1881, acts of J u l y 14
1870, and January 20, 1871, and
January 14, 1875
Certificaties of deposit, act of J u n e 8,
1&72
47, 635, 000 00
Silver certificates, act of February
°28, 1878
4, 600, 000 00
Refunding certificates, act of February 26, 1879
Loan of 1882, act of July 12, 1882. .
Fractional currency, acts of July 17,
1862, March 3, 1863, and June 30,
1864
Funded loan of 1907, acts July 14,
1870, January 20,1871, and January
14, 1875
39,-850 00
Total .
116, 314,850 00
Redemptions.
Excess of
issues.
Excess of
redemptions.
$100 00
$100 00
99, 250 00
99,250 00
505 00
505 00
67, 500 00
67,500.00
63, 000, 000 00
10,188,895 00
9,148,895 00
1,290 00
1,290 00
200 00
200 00
5, 560 00
5, 560 00
5, 200 00
5, 200 00
14, 250 00
14, 250 00
4, 300 00
4, 300 00
1, 900 00
1,900.00
50 00
100 00
50 00
100 00
300 00
15, 900 00
26,950 00
12,250 00
300 00
15, 900 00
26. 950 00
12, 250 00
240, 550 00
240, 550 00
58, 920, 000 00
11,285, 000 00
28, 523, 971 00
23,923,971 00
32, 800 00
44,044,800 00
32,800 00
44,044,800 00
10, 088 36
10,088 36
$39, 850 00
205, 216, 709 36
39, 850 00
88,941,709 36
Excess of redemptions.
Excess of issues
88,941, 709 36
39,850 00
Net excess of redemptions charged
in receipts and exi>enditure8
88,901,859 36
T A B L E 1^.—STATEMENT showing the P U B C H A S E of BONDS on account of the S I N K I N G - F U N D during the fiscal year 1886.
?c[N0TE.—The a n n u a l r e p o r t of t h e S e c r e t a r y of t h e T r e a s u r y for t h e fiscal y e a r 1885 c o n t a i n s a s t a t e m e n t s h o w i n g t h e p u r c h a s e o f b o n d s on a c c o u n t o f t h e s i n k i n g - f u n d d u r i n g
e a c h fiscal y e a r f r o m i t s i n s t i t u t i o n . M a y , 1869, t o a n d i n c l u d i n g J u n e 30, 1885.]
Principal
redeemed.
Y e a r e n d e d J u n e 30, 1886.
• Oregon w a r debt
L o a n of J u l y a n d A u g u s t , 1861
L o a n of 186.3
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 1864
,
F i v e - t w e n t i e a o f 1865
,
T e n - f o r t i e s of 1864
C o n s o l s of 1865 '.
- C o n s o l s of 1867
' C o n s o l s of 1868
F u n d e d l o a n of 1881
,
L o a n of 1882
,
L o a n of 1863, c o n t i n u e d a t 3 i p e r c e n t
,
L o a n of J u l y a n d A u g u s t , 1861, c o n t i n u e d a t 3^ p e r c e n t .
F u n d e d l o a n of 1881, c o n t i n u e d a t 3^ p e r c e n t .
Total
:
$100
2, 500
1,100
67, 500
4, 300
300
14, 250
15; 900
26, 950
- 12, 250
49, 800
:, 044, 800
4,100
96, 750
190; 750
•
Interest
d u e a t close
of y e a r .
N e t cost.
00
00
00
00
00
00
00
00
00
00
00
00
00
to
00
$100
2, 500
1,100
67, 500
4, 300
300
14, 250
15,900
26, 950
12, 250
49, 800
, 044, 800
4,100
96, 750
190, 750
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
44,531,350 00 I 44,531,350 00
$1
53
31
1,425
85
6
356
419
662
203
826
435, 9:.'»2
123
2, 848
4, 704
50
25
50
00
25
00
25
25
25
25
50
01
00
50
13
447, 087 64
B a l a n c e of
interest
d u e a t close
of y e a r .
Accrued
interest
paid.
$18
99
33
.14, 399
31
. 2
278
842
2, 070
570
868
220, 617
31
1, 500
1,065
00
00
00
00
14
02
80
29
75
04
55
44
32
76
34
242,487 45
$16
45
1
12, 974
54
3
77
423
1,408
366
42
215,324
,
91
1,287
50
75
50
00
11
98
45
04
50
79
05
57
68
74
tei
hj
C
W
H
•o
te
CQ
a
H
205, 200 19
O
T A B L E T . — S I N K I N G - F U N D ACCOUNT for fiscal year 1886.
DR.
CR.
' ( N O T E . — T h e a n n u a l r e p o r t of t h e S e c r e t a r y of t h e T r e a s u r y for t h e fiscal y e a r 1885 c o n t a i n s a s t a t e m e n t s h o w i n g t h e c o n d i t i o n of t h e s i n k i n g f u n d from i t s i n s t i t u t i o n in
M a y , li-69^ t o a n d i n c l u d i n g J n n e 30, 1885.]
te
H
"July
1,1885
- J u n e 30,1886
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 n t , 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 30,1^85, l e s s coiu a n d c u r r e n c y c e r t i f i c a t e s h e l d
i n c a s h a n d c a s h a v a i l a b l e for r e d u c t i o n o f t h e d e b t ,
$1,.512,758,251.72
T o i u t e r e s t on r e d e m p t i o n s p r i o r t o fiscal y e a r 1886.. .•
T o i n t e r e s t on r e d e m p t i o n of $44,551,043.36, a m p u n t of
p r i n c i p a l of d e b t " p a i d " d u r i n g fiscal y e a r 1886 on
this a c c o u n t . . . . .
1, 518, 227 40
J u n e 30,1886
By
By
By
By
a r a o u n t of p r i n c i p a l r e d e e m e d in 1886
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 s in 1886
fractional currency and notes redeemed
balanco
$44. 531, 350
242,487
19,693
1,597,407
00
45
36
23
15,127, 582 52
29,297,410 48
IS
GQ
te
Kj
447, 6 ^ 64
46, 390,938 04
46, 390, 938 04
X
X
T A B L E G . — S T A T E M E N T of THIBTY-YEAB 6 P E B CENT. BONDS {interest payable January and July) I S S U E D tothe 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).
X
Repayment ofinterest by transportation of maUs,
troops, &c.
OS
o .
o be
n
Railway companies.
•r
Ct
® 5
a*
I5I
^
<5
Balance due the
, United States on
interest account,
deducting repayments.
X
«
H
Pi
O
O
<j
H
O n J a n u a r y 1, 1876:
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
'..
......
O n J u l y l , 1876:
' C e n t r a l Pacific
."
Kansas Pacific....... . . . . . . . ^ . . .
U n i o n Pacific
•Central 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
.........^..
$25, 885,120 00
6,303,000 t o
27,236,512 CO
1, 600, 000 00
..........
1, 970, 560 00
1, 628, 320 00
..
.............
- --
$13, 027, 697
3,103, 893
11, 884, 324
781, 808
722, 380
682,703
67
09
65
26
14
89
64, 623, 512 00
28, 202,807 70
25, 885,120
6, 303, 000
27, 236, 512
1, 600,000
1,970, 550
1,628,320
11,804, 251
3, 292,983
12, 701,420
829,808
781,496
731,553
00
00
00
00
00
00
64,623,512 00
$770, 553
139,090
817, 095
48, 000
59,116
48, 849
60
00
36
00
80
60
1,938, 705 36
776, 553
189, 090
817, 095
48, 000
• 59,116
48, 849
27
09
01
26
94
49
60
00
35
00
80
60
1,938,705 36
30,141, 513 06
$11, 804, 251
3, 292, 983
12,701, 420
829, 808
781,496
731, 553
27
09
01
26
94
49
$1,191,765
1, 440, 664
3,943,715
44,408
9, 367
39, 005
86
84
65
05
00
96
30,141,513 06
6,668,927 36
12, 580, 804 87
3,482,073.09
13, 518, 515 37
877,808 26
840, 613 74
780,403 09
1,231,213-76'
.1,448,327 39
4, 079,704 77
44,408 05
9, 367 00
39,470 28
32, 080,218 42
6, 852,491 25
$10, 612,485
1,852,318
8,757, 704
785,400
772,129
692,547
41
25
36
21
94
53
23,472, 585 70
11,349,591
2, 033, 745
9,438,810
833,400
831, 246
740,932
11
70
60
21
74
81
25,227,727 17
te
o
w
w
H
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te
W
H
O n J a n u a r y 1, 1877:
•Central Pacific '.
K a n s a s Pacific
Union 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
25, 885,120
6, 303, 000
"27,236,512
1, 600, 000
1, 970, 560
1, 628, 320
^
00
00
00
00
00
00
12, 580, 804
• 3, 482, 073
13, 518, 515
877,808
840. 613
780,403
87
09
37
26
74
09
64, 623, 512 00 | 32,080,218 42
.
776,553
189,090
817,095
48,000
59,116
48,849
60
00
36
00
80
60
1, 938,705 36
13, 357,358
3, 671,163
14, 335,610
925, 808
899,730
829,252
47
09
73
26
54
69
34,018, 923 78
1,268,672
1, 515, 718
4,126, 871
44,408
9, 367
39,440
12
49
52
05
00
28
7,004, 507 46 {
12, 088, 686
2,155,444
10, 208,739
881,400
' 890,363
789, 782
35
60
21
21
54
41
27, 014,416 32
QQ
te
ftl
Kj
On July 1,1877:
CentralPacific
Kansas Pacific
UnionPacific
-.
Central Branch Union Pacific.
M Westem Pacific
• Sioux City and Pacific
25, 885,120 00 13, 357, 358 47
3, 671,163 09
6, 303, 000 00
27, 220, 512 00 14, 335, 610 73
925, 808 26
^ 1, 600, 000 00
899, 730 54
1, 970, 560 00
829, 252 69
1, 628, 320 00
64, 623, 512 00 34, 018, 923 78
M
•^
On January 1, 1878:
Central Pacific
Kansas Pacific
^ Union Pacific
M CentralBranch 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:
CentralPacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
25, 885,120 00 15, 687, 019 27
6, 303, 600 00 4,238,433 09
27, 236, 512 00 16,786, 896 81
1, 069, 808 26
f 1,600,000 00
1, 970, 500 00 1, 077, 080 94
975, 801 49
1,628,320 00
1 64, 623, 512 00 39, 835, 039 86
On J u l y l , 1879:
CentralPacific...'.
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
1,938,705 36
776, 553 60
189, 090 00
817,095 36
48, 000 00
59,116 80
48, 849 60
.14,133,912 07
3, 860, 253 09
15,152, 706 09
973, 808 26
958, 847 34
878,102 89
2, 065, 324 01 . 12,068,588 06
1, 531, 680 06 . 2, 328, 573 03
4, 787, 041 67
10,365, 664 42
58, 498 35
915, 309 91
9,'367 00
949,480 34
62,578 00
815, 523 49
35, 957, 629 14
8,514,489 89
14, 910,465 67 . 2,198, 960 71
4, 049, 343 09 f 1, 532,450 07
15, 969, 801 45 5,134,103 84
1, 021, 808 26
62, 998 35
1,017, 964 14
9, 367 00
926, 951 89
68, 409 65
1, 938, 705 36 37, 896, 334 50
27,443,139 25
12, 711, 504 96
2, 516, 993 02
10,835; 697 61
958, 808 91
1, 008, 597 14
858, 542 24
o
o
te
9, 006,189 62
28, 890,144 88
15, 687; 019 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, 9^, 025 86
1,002,309 91
1,C67, 713 94
900, 283 50
^-
1, 938. 705 36 39, 835, 039 86
9, 881, 444 25
29, 953, 595 61
o
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
o
25, 885,120 00 14, 910, 465 67
6, 303, 000 00 4, 049,343 09
27, 230, 512 00 15,969,801 45
1, 600, 000 00 1,021,808 26
1, 970, 560 00 1, 017, 964 14
926, 951 89
1,-628, 320 00
64, 623, 512 00 37, 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 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
25, 885,120 00 16,463, 572 87
6, 303, 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
j 64, 623, 512 00 41,773, 745 22
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
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
1,136,197 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
17, 240,126 47
4,610,613 09
18.421,087 53
1,165, 808 26
1,195, 314 54
1,073,500 69
1, 938, 705 36 43,712,450 58
10, 571,102 71
2, 771, 419 23
2, 324, 910 55
7, 325, 406 49
73,142 73
9, 367 00
91, 747 39
12, 596, 053 39
31, 202, 642 51
14,468,707 24
2, 291,702 54
11, 095, 621 04
1, 092, 665 53
1,185, 947 54
981, 753 30
31,116,397 19
H
te
t?d
H
QQ
te
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X
TA'BUEl O.—STATEMENT of THIBTY-YEAB 6 PEB CENT. BONDS, #c.—Continued.
1
X
X
•sl
O «
O
<
On January 1, 1880:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific.... . . . .
Sioux City and Pacific
On J u l y l , 1880:
CentralPacific.
Kansas Pacific
Unio'n Pacific
Central Branch Union Pacific
Westem Pacific
Sioux City and Pacific
$25, 885, 120
6,303, 000
27, 236, 512
1, 600, 000
1, 970, 560
1, 628, 320
.'.
00
00
00
00
00
00
47
09
53
26
54
69
$776, 553 60
189, 090 00
817, 095 36
48, 010 00
59,116-80
48, 849 60
64, 623, 512 00
43,-712, 450 58
1,938,705 36
25, 885,120
6, 303, 000
27,236,512
1, 600, 000
1, 970, 560
1, 628, 320
18,016,680
4, 805; 703
19, 238,182
1,213,808
1, 254, 431
1,122, 350
$18, 016, 680
4, 805. 703
19, 238,1S2
1, 213, 808
1,224,431
1,122, 350
07
09
89
26
34
29
45, 651,155 94
$3, 552,135
2.370,109
7, 421, 734
73,142
9. 367
93, 983
70
88
97
73
00
91
13, 520, 474 19
$14, 464, 544
2, 435, 593
if, 816,447
1,140, 665
1 245 064
1, 028, 366
*^
O
H
O
37
21
92
53
34
38
H
te
CQ
o
32,130, 681 75
te
^.
-
•
.;..
00
00
0000
00
00
64, 623, 512 00
On January 1, 1881:
XJentral Pacific
Kansas Pacific
UnionPacific
Central Branch Union Pacific
Westem Pacific
Sioux City and Pacific
$17,240,126
4, 616, 613
18, 4J!1, 087
1,165, 808
1,195, 314
1,073, 500
Balance due the
United States on
iuterest arcoount,
deducting repayments.
III
O O <D
Repayment of interest' by trarisportiition of mails,
troops, &c.
Railway companies.
Total interest paid
by the United
States.
I.'
^3'
07
09
89
26
34
29
45, 051,155 94
776, 553.
189. 090
817,1)95
48, 000
59, 116
48, 849
60
00
36
00
80
60
1, 938, 705 36
18, 793, 233
4, 994, 793
20, 055, 278
1, 261, 608
1,313.548
1,171,199
67
09
25
26
14
89
47, 589, 861 30
3, 200, 389
2, 447, 397
7,804,484
47, 621
9, 367
IUO, 032
64
28
37
69
00
57
13, 615, 292 55
15, 592, 844
2, 547, 395
12, 250, 793
1, 214,186
1,304,181
1, 065,167
03
81
88
57
14
3i
Kj
O
te
33, 974, 568 75
H
te
7.'
.
25, 885,120
6, 303, 000
. 27,236,512
1,-600 000
1, 970, 560
1, 628, 320
00
00
00
00
00
00
64,623, 512 00
18,793,233-67
4, 994, 793 09
20, 055. 278 25
1,261,808 26
1,313,-548 14
1,171.199 89
47,589,861.30
776, 553
189,090
817, 095
48, 000
59,116
48, 849
60
00
36
00
80
60
• 1,938, 705 36
19, 569, 787 27^
3, 358, 026 85
5,183, 883, 09
2, 502, 724 32
20, 872, 373 61 • 7, 992, 936 82
1, 309. 808 26
74, 907 91
1, 372, 664 94
9, 367 00
1. 220, 049 49
114,424 58
16,211.760
2,081,158
12,879,436
1, 234, 840
1, 363, 297
1,105, 624
49, 528, 566 66
35,476,119 18
14,052,447 48
42
77
79
35
94
91
?>
te
.te
Kj
On J u l y 1, 1881: .
Central Pacific
Kausas Pacific
Union Pacific
Central Branch Union Pacific
W e s t e m Pacific
Sioux City and Pacific
On J a n u a r y 1, 1882:
CentralPacific
Kansas Pacific.
Union Pacific
Central Branch Union Pacific
Westeru Pacific
Sioux City and Pacific
25,885,120 00
19, 569, 787 27
6, 303, 000 00
6,183, 883 09
27,236, 512 00 20.872,373 61
• 1, 600, 000 00 1, 309, 808 26
1, 970, 560 00
1,372,664 94
1, 628, 320 00
1, 220, 049 49
778, 553 60
189,090 00
817, 095 36
48,000 00
^ 59,116 80
.48, 849 60
20, 346, 340 87
5, 372, 973 09
21,689,468 97
1,357,808 26
1,431,781 74
1,268,899 09
64, 623, 512 00
1, 938, 705 36
51,467, 272 02
49,528,566 66
3,496, 942 83
2, 565,443 44
8,135, 878 56
93, 515 38
9,367 00
124, 979 14
14, 426,126 35
16,849,398 04
2, 807, 529 65
13, 553, 590 41
1, 264, 292 88
1,422,414 74
1,143, 919 95
te
37, 041,145 67
o
te
20, 346,340 87
25, 885,120 00
6, 303, 000 00
5, 372,973 09
27,236, 512 00 21, 689, 468 97
1, 600,000 00
1, 357, 808 26
1, 970, 560 00 . 1, 431, 781 74
1, 628, 320 00 1, 268,899 09
64,623,512 00
51,467,272 02
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
1, 938, 705 36
21,122, 894
5, 562, 063
22, 506, 564
1, 405, 808
1,490, 898
1,317, 748
47. ' 3, 600, 920 51
09 2, 625, 289 51
33
8, 227, 294 70
26
109, 032 06
54
, 9, 367 00
69
135, 982 56
53,405, 977 38 14, 707, 886 34
17, 521, 973
2, 986, 773
14, 279, 269
1, 296, 776
1, 481, 531
1,181, 766
96
58
63
20
54
13
H
o
te
te ^•
38, 698, 091 04
QQ
•
te
On J u l y l , 1882:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
21,122, 894 47
25,885,120 00
6, 303, 000 00
5,. 562, 063 09
27, 236, 512 00 22, 506, 564 33
1, 600, 000. 00
1,405,808 26
1, 970, 560 00
1,490,898 54
1, 628, 320 00
1, 317, 748 69
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 86
48, 849 60
21, 899. 448 07
5,751,153 09
23, 323, 659 69
1, 453, 808 26
1, 550, 015 34
1, 366, 598 29
53,405, 977 38
1, 938, 705 36
55, 344, 682 74
15, 220, 693 30
. 40,123, 989 44
O
25. 885,120 00 21, 899, 448 07
6, 303, 000 00 5, 751.153 09
27,236,512 00 23, 323, 659 69
1, 600, 000 00
1,453,808 26
1, 970, 560 00
1,550,015 34
1, 628, 320 00 1, 366, 598 29
776, 553 60
189, 090 00
817, 095 36
48,000 00
59,116 80
48, 849 60
22, 676, 001 67
5, 940, 243 09
24,140, 755 05
1,501,808 26
1,609,132 14
1, 415, 447 89
4.217,203 99
2, 818,329 72
8, 815, 988 85
142, 630 64
9,367 00
120, 340 39
18,458, 797 68
3,121,913 37
15, 324, 766 20
1,359,177 62
1,599,765 14
1, 295,107 50
w
55, 344, 682 74
1, 938,705 36
57, 283, 388 10
22,676,001 67
25, 885,120 00
6, 303, 000 00
5, 940, 243 09
27, 236, 512 00 24,140, 755 05
1, 600, 000 00 1,501,808 26
1,970, 560 00
1,609,132 14
1,628, 320 00
1,415,447 89
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48,849 60
23, 452, 555 27
6,129,333 09
24,9.57,850 41
1, 549, 808 26
1, 668, 248 94
1,464, 297 49
4, 592,158 25
2, 969, 049 59
8, 933, 292 87
152,157 10
9, 367 00
121,355 39
1, 938, 705 36
59, 222, 093 46
16, 777, 380 20
64, 623, 512 00
O n J a n u a r y 1, 1883:
Central Paciflc
Kansas Pacific
Union Pacific
Cential Branch Union Pacific
Western Pacific
Sioux City and Pacific
64, 623, 512 00
On July 1, 1883:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
O
3, 812, 411 95
2,725, 458 33
8, 453, 537 60
124, 639 85
9, 367 00
95, 278 57
16,123, 860 59
18,087,036 12
3,025, 694 76
14, 870,122 09
1, 329,168 41
1, 540, 648 34
1, 271, 319 72
41,159,527 51
>
te
K!
W
te
>
Ul
64, 623, 512 00
57,283,388 10
18, 860, 397 02
3,160,283 50
16, 024, 557 54
1,397,651 16
1, 658, 881 94
1, 342, 942 10
42,444, 713 26
te '
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X
X
<
O n J a n u a r y 1,1884:
CentralPacific
K a n s a s Pacific
Union 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 m Pacific
Sioux City a n d Pacific
O n J u l y l , 1884:
C e n t r a l Pacific
K'ansas 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
-
O n J a n u a r y 1,1885:
CentralPacific
K a n s a s Pacific
Union Pacific..»
Central Branob Union Pacific
W e s t e r n Pacific
S i o u x C i t y a n d Pacific
^
........"....»
,
^.
,
.-.
" ...
,-.-...
».
. 1-1 .
i1
II
3J
H
80
61
82
38
00
37
$19,476, 935 07
3, 263,499 48
16, 252, 806 95
1, 435, 409 88
1,717,998 74
1, 382, 254 72
61,160, 798 82
17, 631, 893 98
43, 528, 904 84
25, 005, 662 47
6, 507, 513 09
20, 592, 041 13
1,645,808 26
1, 786, 482 54
1, 561, 996 69
4r784, 617 43
3, 055, 291 60
10, 006,107 79
16-J, 401.27
9,367 00
131,138 32
20, 221, 045 04
3, 452, 221 49
16,585,933 34
1,483, 406 99
1,777,115 54
1,430,858 37
1, 938, 705 36
63, 099, 504 18
18,148, 923 41
44,950,580 77
776, 553 60
189, 090 00
817, 095 36
48, 000 00
. 59,116 80
48, 849 6U
25, 782, 216 07
6, 696, 003 09
27, 409,136 49
1, 693, 808 26
1,845,599 34
1,610,846 29
4,980,710 91
3, 207, 922 35
10,495, 849 61
171,939 98
9,. 367 00
151, 55i 14
20, 801, 505 16
3,488, 680 74
16, 913, 286 88
1, 521, 868 28
1, 836, 232 34
. 1 , 459,294 15
1, 938,705 36
65, 038, 209 54
19, 017,341 99
46, 020,867,55
$776,553 60 $24,229,108 87
f89, 090 00
6,318,423 09
817, 095 36 25,774, 945 77
48,000 00
1, 597, 808 26
59,116 80
1,727, 365 74
48, 849 60
1, 513,147 09
$25, 885,120 00
6, 303, 000 00
27, 236, 512 00
1,600,000-00
1, 970,560 00
1, 628,320 00
$23,452,555 27
6,129,333 09
24, 957, 850 41
1, 549,808 26
. 1, 668, 248 94
1,464, 297 49
64, 623,512 00
59, 222, 093 46
1, 938, 705 36
25, 885,120 00
6, 303, 000 00
27,236,512 00
1, 600, 000 00
1, 970, 560 00
1,628,320 00
24, 229,108 87
6,318,423 09
25, 774, 945 77
1, 597, 808 26
1, 727, 365 74
1,513,147 09
776, 553 60
189. 090 00
817, 095 36
48, 000 00
59,116 80
48,849 60
64, 623, 512 00
61,160,798 82
25,885,120 00
6, 303, 000 00
27,236,512 00
1, 600, 000 00
1, 970, 560 00
1,628,320 00
25, 005, 662 47
6, 507, 513 09
26, .592, 041 13
1,645,808 26
1, 786, 482 54
1, 561, 996 69
64,623, 512 00
63, 099, 504 18
$4,752,173
3,054, 923
9,522,138
162, 398
9, 367
130, 892
Balance due the
United States on
Interest account,
deducting repayments. ^
Bailway companies.
|1
X
X
Repayment of interest by transportation of mails,
troops, &c.
Amount of bonds
outstanding.
T A B L l ^ O.—STATEMENT of THIBTY-YEAB 6 PEB CENT. .BOJVD/S, #o.—Continued.
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On July 1,1885:
Central Pacific
Kansas Pacific
Union Pacific
,
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
On January 1,1886:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch-Union Pacific
Western Pacific
Sioux City and Pacific . . . .
25, 885,120 00
6, 303,000 00
27, 236, 512 00
1, 600, 000 00
1,970, 560 00
1, 628,320 00
25,782, 216 07
6,696,603 09
27,409,136 4 9
1, 093, 808 26
1, 845,-599 34
1, 610, 846 29
776,553 60
189,090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
26,558,769 67
6, 885,693 09
28, 226, 231 85
1, 741, 808 26
1,904,716 14
1, 659, 695 89
5,134,185 31
3,284,294 23
10, 647, 579 36
219, 746 48
9, 367 00
178, 659 68
21,424, 584 36
3,601,
17, 578,652 49
1, 522,061 78
1,895, 349 14
1,481, 036 2 1 '
64, 623, 512 00
65, 038, 209 54
1,938, 705 36
66, 976, 914 90
19, 473, 832 06
47.503, 082 84
5, 224, 251 05
27, 335, 323 27
3, 377,165 28
7, 074,783 09
29, 043, 327 21 10, 830, 400 19
238, 996 04
1,789, 808 26
1, 963, 832 94
9, 367 00
1, 708, 545 49
191,125 20
22, 111,072 22
3, 697,617 81
18, 212,927 02
1, 550,812 22
1,954, 465 94
1, 517,420 29
25, 885,120 00 26, 558, 769 67
6, 303, 000 00 • 6, 885, 693 09
27, 236, 512 00 28, 226, 231 85
1,600,000 00. 1, 741, 808 26
1, 904, 716 14
-1, 970, 560 00
1, 628, 320 00 1,659,695 89
64, 623, 512 00
66, 976, 914 90
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
1, 938, 705 36
68, 915, 620 26
19, 871,304 76
49,044, 315 50
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On July 1,1886:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
25, 885,120 00
6, 303, 000 00
27, 236, 512 00
1, 600, 000 00
1, 970, 560 00
1, 628, 320 00
27, 335, 323 27
7, 074, 783 09
29,-043,327. 21
1, 789, 808 26
1, 963, 832 94
1, 708, 545 49
64, 623, 512 00
68,915, 620 26
776, 553 60
189, 090 00
817, 095 36
48, 000 00
•. 59,116 8J
48, 849 60
1,938,705 36
5, 264. 819 74
28, 111, 876 87
7, 263, 873 09
3,422, 870 43
29, 860, 422 .57 10,997,628 90
256,785 25
1, 837, 808 26
9, 367 00
2, 022,949 74
1, 757,395 09
201, 550 11
22, 847, 057 13
3, 841, 002 66
18, 862, 793 67
1, 581, 023 01
2,013, 682 74
1, 555, 844 98
70, 854,325 62
50,701,304 19
20,153,021 43
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TABLE!
11.—STATEMENT showing the AMOUNT of GOLD and SILVM COtN and B&LtiON;
Gold.
Date.
J u n e 30—
186 0
186 1
3862
1863.
1864
1863
1806
186 7
186 8
186 9
187 0
187 1
187 2
1873
187 4
187 5
187 6
1877
187 8
187 9
188 0
1881
1882
1883
1884
188 5
1836
I n Treasury,
including
bullion.
$18, 653, 580 19
40,443,031 68
57,295, 056 90
113,118,471 07
96, 241,788 51
110, 870, 572 35
108,316,646 51
91,108, 840 16
71,425, 306 63
68, 213, 633 30
68,431,388 80
56,688,448 30
55,217,604 05
89,390,471 88
128,460, 202 87
135,236,474 62
326,145, 427 20
163,171, 6tii 25
148, 506,389 95
19;?, 078, 567 65
204,876,591 15
247,028,625 25
232,833,123 91
I n national
banks.
$2,241,041 30
9,437, 060 40
4,546,576 30
4, 006,322 98
7, 472,129 04
6,501, 410 48
12,438,517 78
9,687.415 65
11,560,035 73
3,370, 378 40
5,019,6:18 f.3
3, 663, 993 46
4, 839, 240 54
5, 306, 262 69
8, 191, 952 67
21, 530, 846 05
76, 959, 509 72
101,901,276 45
91,223, 770 74
67,002,816 21
65,835,738 50
83,268,947 07
104,530,587 67
GOtl), SILVER, and Citfi&ENcY CEllTlEICAVES ; UNITED SfAlES NOTES, and NATIONAL and SfATE-MANX NOTES in the UNITED STAGES, and DtSTEIBUTtON
at ifie CLOSE of MA CH YEAR named.
Gold certificates.
In circulation;
in other banks
and in individual hands.
Total.
$214,000,000 00
270,000,000 00
283,000,000 00
260,000,000 00.
203,000,000 00
189,000,000 00
167,000,000 00
186, 000,000 00
160,000,000 00
173,000,000 00
189,500,000 00
163, 500, 000 00
348,000,000 00
135,000,000 00
142,000,000 00
110, 000, 000 00
113,500,000 00
145, 500, 000 00
186, 500, 000 00
211, 500, 000 00
309, 000, 000 00
426, 000, 000 00
444,000, 000 00
467,000, 000 00
463, 500, 000 00
500, 000, 000 00
496,700, 000 00
$182,105,378 51
139,119, 907 92
105,158,366 80
68,875,205 95
56,286,082 45
55,628, 017 17
68, 744, 835 71
62,703,744 19
65,014.567 64
63,415, 988 30
68,548,972 67
49, 647,558 18
53,443,355 41
50,803,265 43
49,847,844 46
54,732, 679 33
105,895, 063 07
160, 927, 062 30
204,269,839 31
201,918, 616 11
192,787,667 35
169, 702,427 68
159,331,288 42
I n Treasury.
In national
banks.
I n circulation;
in other banks
and in individual hands.
Total.
In national
banks.
In Treasury.
I n circulation;
in other banks
and in individual hands.
Bate.
June 30—
1860
1861
1862
186 3
1864
1865
1866
1867
3868
3869.
1870
187 1
187 2
1873....
1874
1875
1876
187 7
187 8
1879
188 0
1881
1H32
1883
1834
1885
188 6
$207,102,477 00
202, 005,767 00
183,792,079 00
238,677,218 00
179,157,717 00
142, 919, 638 00
19,996, 163 00
4,484,112 00
3,163,771 00
2,538,874 00
2,222,793 00
1,968,058 00
1,700,935 00
1,294,470 00
1,009,021 00
786,844 00
638,938 00
521,611 00
426, 304 00
332,452 00
299, 790 00
242, 967 00
173 00
189.253 €0
187,978 00
144,489 00
132,470 00
Demand notes.
$53,040,000 00
3,351,019 75
780,999 25
472, 603 00
272, 162 00
208,432 00
141,723 00
123,739 25
106,256 00
96,505 50
88.296 25
79,967 50
76,732 50
70,107 50
66,917 50
63,962 50
62.297 50
61,470 00
60, 975 00
60,535 00
59,693 00
58, 985 00
53,440 00
57,950 00
57,445 00
^
^
S
90,485 00
86,185 00
82,485 00
79,985 00
74,965 00
71, 765 00
69.765 00
68,035 00
66,545 00
$442,640 00
95,470 00
35,260 00
533,68i) 00
2,462,320 00
2, 096, 620 00
5,674,640 00
5,208, 680 00
4,809,720 00
4, 247, 500 00
4,506, 420 00
9, 274, 560 00
19,469,320 00
133,880 00
40,700 00
-.23,400 00
8,100 00
22t 571,270 00
27,246,020 00
13,593,410 00
55,129,870 00
$8,082,800 00
7,122,350 00
13,283,790 00
11,953,680 00
18,660,920 00
9,161,160 00
11,412,160 00
22,139,090 00
13,671,660 00
12,642,180 00
16,872,780 00
12,179,520 00
16,021,460 00
13, 975, 600 00
7,939,560 00
5,137,500 00
4,440,400 00
32,791,590 00
26,637,110 00
74,816,920 00
41,446,430 00
$2,422,420 00
11,555,760 00
4,359,590 00
18,002,280 00
13,423,880 00
8,628,520 00
34, 999, 500 00
12,112,230 00
4,343,720 00
4, 906,620 00
7, 302, 200 00
20,118,520 00
8,876,220 00
1,304,220 00
24,340 00
622,020 00
588, 620 00
27,015,780 00
44,509, 530 00
51, 912, 810 00
34, 597, 945 00
$10, 947, 860 00
18. 773, 580 00
17,678, 640 00
30,489,640 00
34,547,120 00
19,886,300 00
32, 086, 300 00
39,460, 000 00
22,825,100 00
21,796,300 00
28,681,400 00
41, 572, 600 00
44, 367, 000 00
15,413,700 00
8,004, 600 00
5,782,920 00
5. 037,120 00
82,378, tWO 00
98, 392, 660 00
140, 323,140 00
131,174,245 00
$1,455,520 00
2,032,470 00
6,584, 701 00
12, 055,801 00
11,590,620 00
15, 996,145 00
23,384, 680 00
38,370,700 00
27, 861, 450 00
$7. 080 00
* 337, 810 00
4, 794, 169 00
38,165, 139 dO
53, 632, 050 00
69, 499, 556 00
2, 861, 000 00
93, 560, OIL 00
3, 1 59, 270 00 98,391, 676 00
1,tilJ, 290 00 86, 303, 935 00
$36, 670 00
993, 400 00
945, 590 00
£54, 040 00
3,121,130 00
$1, 462, 600 00
2, 466, 950 00
12, 374. 270 00
51,166, 530 U0
66, U96, 710 00
88, 616, 831 00
119,811, 601 00
139,904, 646 00
115, 977, 675 00
$15,000, 000 00
193,756, 080 00
159,012, 140 00
122,394, 480 00
28,161, 810 00
2,871, 410 00
2,152, 910 00
768, 500 00
593, 520 00
479, 400 00
415, 210 00
367, 390 00
328, 760 00
296, 630 00
274, 920 00
259, 090 00
242, 590 00
230, 250 00
' 220, 960 00
213, 620 00
207, 660 00
202, 730 00
197, 170 00
Fractional currency.
I n Treasury.
$20,192, 456 00
22,894, 877 25
25,005, 828 76
27,070, 1-76 96
28,307, 523 52
32.626, 931 75
32,114, 637 36
39,878, 684 48
40,582, 874 56
40,855, 835 27
44,799, 365 44
45,881, 295 67
42,129, 424 19
34,446, 595 39
20,403, 137 34
16.547, 768 77
15,842, 610 11
+15,590, 892 70
15,481, 891 65
15,423. 186 10
35,376, 629
14
15,355,
64
15,340, 999
114 21
15,330, 021
52
$5,467,195 00
11,861,418 00
5,393, 983 00
7,992,791 00
11,118,903 00
6,855,569 00
8,627. 71/0 00
8,304, 586 00
11,715,488 00
33, F61,463 00
16,877,634 00
15,759,847 00
12, 789, 921 00
8,286,701 00
7, 09«», 249 00
5,296.382 00
6,277,246 00
8,217, 062 00
8, 809,990 00
9,945,710 00
4,034,416 00
1
uanks.
$10.753, 777 00
36. 337, 528 00
31, 547, 972 00
22,215, 933 00
17,498, 7*7 00 1
1*, 081, 718 00 i
23, 804, 500 00 I
26,811. 641 00 j
23, 999, 544 00 1
26, 93 726 00
32,27i 008 00
42, 317, 896 00
32,979, 719 00
34,238, 402 00
30,463, 349 00
24, 771, 123 00
26,358, 332 00
27,932, 850 00
27,753, 195 00
31,748, 004 00
27,871, 246 00
32,131, 028 00
30,684, 525 00
In circulation: in
other banks and in
individual hands.
$20,481, 493 00
109,800, 332 00
244,464, 741 00
264, 548, 026 00
276,870, 086 00
273,667, 9G6 00
264,753, 581 U0
284, 564, 031 00
305, 037, 461 00
312, 006, 749 00
307,993. 476 00
298, 228, 649 00
283, 140, 983 (10
267,05d, 623 00
281.261, 012 00
296, 633, 873 00
31 f, 056,846 00
321,813, 443 00
324,711, 593 00
316,108, 215 00
302,818, 647 00
276,499, 973 00
276,980, 513 00
$15, 059, 827 84
33, 239, 916 91
49, 549, 851 42
63, 854, 671 10
90, 384, 724 36
116, 396, 23 5 29
139, 616, 414 27
lfi9, 451, 997 52
184, 345, 764 45
^
I n circulation;
in other banks
and in individual hands.
Total.
I n Treasury.
I n national
banks.
$175, 250 00
4, 739,120 00
4, 689. 628 00
5, 711,137 00
6, 077,153 00
6, 351, 004 00
8, 032, 811 00
7, 797, 923 00
6, 757, 263 00
$079, 893
2,914. 529
14,619, 807
23,116, m
25, 913, 811
28, 990, 876
31, 762, 102
30. 673, 344
45i 712, 457
00
00
00
00
00
00
00
00
00
$15,914, 970 84
40, 893, 565 91
6S, 859, 286 42
94, 682, 654 10
122, 375, 688 36
151, 7 115 29
179, 411, 327 27
207, 923, 266 52
236, 815, 484 45
$625, 366 55
786,841 65
758, 826 35
917, 960 81
1, 479, 894 28
1, 304 9f<4 68
1, 022, 007 58
977,589 98 $1,076,379 51
1,936,013 11
1, 284,448 41
3,320,849 26
2,440,618 32
4,559,745 38
3,634,908 74
5, 858, 623 95 2, 653, 408 84
3, 506.449 38
6,270,433 12
3, 850, 213 37
5,224,945 57
4,862, 807 10
6, 860,503 97
8, 903, 401 36 2,031, 051 39
1,172, 407 53
24,350, 481 80
771,424 05
27,247, 696 93
820, 868 80
28,018,630 58
857,854 41
28,486,001 05
1, 085, 022 61
29,600,720 05
31, 236, 899 49 1, 059,390 95
28, 904, 681 66 2,913,304 82
I n circulation;
in other banks
and in individual hands.
Total.
Total.
$31,235, 270 00
146,137, 860 00
281,479, 908 00
298, 625, 379 00
299,762, 853 00
299, 742, 475 00
299, 766, 984 00
318,261, 241 00
337,664, 793 00
347, 267, 061 00
351,981, 032 00
354, 408, 008 00
332, 908, 336 00
317,018, 872 00
324, 514, 284 00
329, 691, 697 00
344, 505, 427 00
355, 042, 675 00
35h, 742, 034 00
336, 073. 28L 00
339,499, 883 00
318, 576, ill 00
311,699, 454 00
I n Treasury.
$32,184,213 00
52,149, 686 00
72,988,001 00
52, 345, 893 00
27,4:28, 335 00
41, 233,100 00
31, 037, 362 00
12, 931, 030 00
11,331, 320 00
39, 050, 853 00
68,578,548 00
84, 055, 245 00
Z0, £89,9C6 0!)
75,689,987
72,020,120 73
74, 391, 903 62
33, 020, 559 11
30, 204, 092 45
34,670,589 68
36,498, 839 42
40,183,801 75
45,047, 378 94
41,118,316 79
I n circulation; in
I n national banks. other banks and in
individual hands.
$40,042, 756
165,394, 496
197, 78:i, 494
100, 587, 582
00
00
00
00
100, 1116,100 00
80, 934, 119 00
94, 573. 751 00
122, 137, 66D 00
122,994, 417 00
106, 381, 49 L 00
103,10S, 350 00
87, 492. 895 00
90,836, 876 00
78, 004, 386 00
71,643, 402 09
67, 039, 152 00
64,470, 717 00
58, 728, 713 00
64, 019. 518 00
73,832, 458 00
76,917, 212 00
79,701, 352 00
79,656, 783 60
$375, 073, 234 00
213,522,246 00
130,008,811 00
218,850,120 00
228, 403, 56* 00
233,767, 975 00
230,38n, 887 00
220,931.310 00
223,174,263 00
210,567,654 00
210,313,102 00
204,223,440 00
208, 045, 502 00
206, 069, 958 32
203,017,493 27
205, 229, 960 38
249,189, 739 89
257, 748, 210 55
247,990,908 92
236,349,718 58
229, 580, 002 25
221,932,285 06
225,905,916 21
$9,374, 633 45
8, 713, 158 35
8, 241, 173 65
7, 082, 039 19
6, 520, 105 72
5, 695, 015 32
8, 977, 992 42
10, 916, 030 51
10, 779, 538 48
11, 238, 532 42
11, 303, 34 5 88
19,487, 967 21
32, 223, 117 50
52, 924, 841 06
58. 276, 686 93
59, 065, 547 25
44,477, 110 67
41,980, 879 02
41,130, 500 62
4l>, 656, 144 51
39. 314, 257 34
37, 703, 709 56
38,182, 013 52
11,000, 000 00
10, 0U0, 000 00
9, 500, 000 00
9, 000, 000
8, 000,000
8, 000, 000
7, 000, 000
00
00
00
00
10, 000, 000 00
13, 000, 000 00
14. 000, 000 00
17, 000,,000 00
19, 5u0, 000 00
28, 000, 000 00
42, 000, 000 00
62, 000, 000 00
70, 000, 000 00
70, 000, 000 00
70, 000, 000 00
70, 000, 000 00
70, 000, 000 00
70,000, OHO 00
70,000, 000 00
70, 000, 000 00
70, 000, 000 00
Legal-tender certificates.
Legal-tender notes.
NOTE. - T h e aggregate circulation should be reduced b y the total amount of gold, saver, and legal-tender certificates, to obtain the net circulation, as the funds -which these certificates represent are also included in the aggregate.
N o t e 2.—It is not practicable to show the distribution of the gold coin and subsidiary silver coin in circulation in the years I860-61-'62-*63.
F a c e p . L.XXX
Innational
$21, 000, 000 00
16,000, COO 00
13, 000, 000 00
T Compound-interest
notes.
$89,879,475 00
153,471,450 00
42,338,710 00
3,454,230 00
1,123,630 00
555,492 00
347,772 00
• 248,272 00
198.572 00
167,522 00
142,105 00
127,625 00
113,375 00
104,705 00
95, 725 00
I n Treasury,
.nclud^sUver,
Total.
National-bank notes.
State-bank circulation.
Subsidiary silver.
Silver dollars.
Silver certificates.
THEXEoF
Total.
$447,300. 203 00
431,066, 428 00
400, 780, 306 00
371, 783, 597 00
356, 000, 000 00
355, 935, 194 00
356, 000, 000 00
336, 000, 000 00
357, 500, 000 00
336,000, 000 00
382, 000, 000 00
375,771, 580 00
369, 772, 284 00
359,764, 332 00
346, 681, 016 00
346, 681, 016 00
346, 681, 016 00
346,681, 016 00
346,6S1, 016 00
346, 681, 016 00
346,631, 016 00
346, 681, 016 00
346,681, 016 00
I n Treasury.
I n banks.
$31, 515, 000
58, 000 000
57,970, 000
32, 563, 000
53, 825, 000
46, 245, 000
29, 355, 000
34, 235, 000
11,650, 000
13,245, 000
13, 06U,000
12,190, 000
29, 585, 000
18, 250, 000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
$215, 000 00
755, 000 00
445, 000 00
275, OHO 00
1,135, oco 00
570, 000 00
1,450, 000 00
360, 000 00
275, 000 00
75, 000 CO
315, 000 00
195, 000 00
200, oco 00
250, 000 00
Total.
$31,730, 000 CO
58, 755, 000 00
58, 415, 000 00
32, 840, 000 00
54, 960. 000 00
46,815, 000 00
30, 805, 000 00
14,595, 000 00
11,925, 0t!0 00
13, 320, 000 00
13,'375, 000 00
12,385, 0( 0 00
29,783, 000 00
18,500, 000 00
Aggregate circulation.
$442, 102,477 00
488, 003,767 00
532, 832,079 00
623, 100,168 75
1,162, 840,516 50
1,180, 197,147 76
1, 079, 013,645 96
3, 039, 700, 733 52
006, 091,242 75
004, 11:3,741 61
934, 423, 019 48
914, 262,051 06
932, 637, 203 52
973, 232, 368 94
1, 024, 571,016 17
991, 838,028 69
955, 397, 935 89
1, 002, 226, 869 81
1, 053, 656, 846 11
1,064, 1 >53, 736 02
1,130, 296, 332 12
423 75
1. 377, 376,
547 46
1,442. '.'66,
773,133
1, 591, 561, 419 43
1,615, 004, 097 91
73
1,769, 331, 525 97
1,747,
EXPLA:t^ATIOI^r OP DIAGRAM.
The diagram shows the amount in raillions and tens of millions—a million being
indicated by each space between the lines.
The reason for its non-extension beyond the year 1878 is t h a t a new element was
introduced into the circulating medium of the country in this year, just as in 1862
the introduction of the legal-tender notes brought aboiit an entire change in tho
monetary system of the United States.
'
The flrst item upon the diagram designates the aniount of the national-bank notes
in actual circulation, excluding therefrom the notes held by national-banks and those
which had become a charge upon the Treasury, owing to the deposit of legal-tenders
made in order to retire these notes from circulation.
,
The second item shows the amount of gold coin and bullion in the United States
Treasury^ held as a reserve f o r t h e rederaption of the legal-tender notes and for the
redemption of the gold certificates. These amounts being deducted, the balauce will
show the free gold and bullion contained in the Treasury.
The third item shows the reduction or increase of the public debt, as shown by the
monthly statement published at the end of each month. '
The fourth item shows the amount of legal-tenders held in t h e Treasury, and, with
the fifth item, which must be first deducted, shows the amount of these notes applicable to the redemption of national-bank notes.
The sixth item shows tho amount of gold certificates actually in circulation, and
which had become a charge upon the gold coin and biillion in the Treasury.
The seventh item shows the amount to the credit of t h e national-bank redemption
fund. This fund represents the amount of unredeemed national-bank notes, which,
so long as they remain outstanding, inure to the benefit o f t h e Treasury.
The eighth item includes the subsidiary coin, silver bullion, and standard silver
dollars in the Treasury, the issue of t h e standard dollar having resulted in the retirement into the Treasury of the subsidiary silver, which would*otherwise have remained
in circulation.
^
The ninlsh item shows the amount of silver certiticates actually outstauding, which
had become a charge upon the standard silver dollars held in the Treasury.
^
.
•
. ^
.
•
LXXXI
DIAGRAMS
Exhibiting the Actual and Relative Variations, at stated periods, beginning 1st January, 1866, and ending 7 t h October, 1886, in the Number of National Banks, and in the Aggregate Amounts of the chief items of their Resources and Liabilities.
Report* for year 1866 included " Compound Interest Notes," which during that year averaged about 28 per cent, of the total outstanding legal tender currency
THE AMERICAN GRAPHIC CO.,NT
LXXXII
EEPORT OF THE SECRETARY OF THE TREASURY.
TA'R'Ll^Ii—Statement ofthe STANDABD SILVEB DOLLABS, SILVEB BULLION, and SUBSIDIABY SILVEB COIN in the Treasury at the end of each month
from Decemher^l, 1877, to Novemher 30, 1886.*
Standard silver
dollars.
1877—December 3 1 . .
1878—January 31 . . .
F e b r u a r y 28'...
M a r c h 30
.
A p r i l 30 . . . . . .
Mav31.
June 29.......
July31.A u g u s t 31
S e p t e m b e r 30
October 3 1 . . . .
N o v e m b e r 30 .
December 3 1 . .
Silver bullion.
S u b s i d i a r y silv e r coin.
Totai.
$810, 561
3,169, 681
5, 950; 451
7,718,357
9,550,236
,11,292,849
12,155, 205
13,397,571
14,843,219
16,704, 829
$1, 736,
: 2,827,368
2, 955,577
3, 534,480
7, 350,710
5, 891,204
7, 341,470
. 7,665,760
8,982, 239
9, 634,034
8, 352,042
10,159, 491
9, 439,461
07
65
53
68
95
84
19
07
48
21
41
25
$5, 532,283 95
5, 626,.541 22
6, 261,437 76
7,139, 637 34
7,029, 306 77
8,103, 228 02
6, 860,505 97
7, 079,667 36
6, 478,642 22
6; 143,903 02
6, 323,132 31
- 6,009,834 43
6,031, 804 52
1879—January 31 . . . .
Febraary 28..
March 31.......
A p r i l 30
May 3 1 . . . . . . . . .
J u n e 30.
J u l y 31 . . . . . . . .
A u g u s t 31 - . - . ,
S e p t e m b e r 30.
October 3 1 . . .
November 30..
December 3 1 . .
17,874,457
19, 505, 767
21,558,894.
23,694,563
26,181,045
28,147, 351
'29,151, 801
30,678, 464
31,559, 870
32, 322, 634
32, 839, 207
33,168,064
10, 347,889
9,837, 402
8, 688,260
6,949, 046
5, 672,655
5,092, 565
5,112,223
4, 904, 611
4,557, 504
3, 537,224
4, 323,097
4,492, 421
50
62
74
43
55
91
82
89
31
31
69
19
6,143, 449
6, 278,490
6, 428,185
6, 621,940
6,813, 589
8, 903,401
12, 731,765
15, 236,724
16, 814,308
17, 755,986
18, 432,478
18, 881,629
13
66
06
39
32
36
97
48
94
76
13
15
34, 365,795 63
35,621, 600 28
36, 675,339 80
37, 265,549 82
38, 667,289 87
42,143, 318 27
46,995, 790 79
50,819, 800 37
,-683 25
52, 931,.
53, 615,845 07
55, 594,782 82
56, 542,114 34
1 8 8 0 ^ J a n u a r y 31
; February28...
March3i......
A p r i l 30
-May31..i.....
June30
J u l y 31 . . . . . . .
A u g u s t 31 . . . .
S e p t e m b e r 30 .
" October 3 1 - . . .
No vember 30..
December 3 1 . .
34,961, 611
36, 972, 093
38, 780, 342
40,411, 673
42, 778, .190
44, 425, 315
46,192,791
47,495, 063
47, 654, 675
47, 084,459
47,397,4r,3
48 190,518
4, 888,035
4, 525,306
' 4, 086,
839
5, 007,331
• 4,853,587
5,124, 536
6, 081,647
6, 380,258
5, 557,759
6,043, 367
6, 255,389
6,183,. 224
97
25
58
04
99
42
91
46
74
37
81
05
20, 204,809
21,179, 312
21, 989,814
22, 767,672
23, 577,091
24, 350,481
24,975, 713
25.152, 971
24, 799,925
24, 629,489
24, 653,530
24,769, 057
83
32
48
95
99
80
52
89
40
89
37
32
60,054, 456
62, 676,711
64, 856,996
68,186, 676
71, 208,869
73,-900, 333
77, 250,152
79,028, 293
78, 012,300
77, 757,316
78, 306,373
79,142, 799
80 .
57
06
99
98
22
43
35
14
26
18
37
1881—^January 31
Febru ary 2 8 . . .
March 3 1 . . . . . .
April30.-:
May 31.........
June30 .......
July 3 1 . . . . . . . .
August31-'....
S e p t e m b e r 30 .
O c t o b e r 31 I . November 30..
December 31..
50, 235,102
52,939,460
55,176,. 158
58, 044, 826
60,518,273
62, 544, 722
64, 246, 302
65, 948, 344
66, 092, 667
66, 576,378
68,017,452
69, 589, 937
6,704. 197
5, 350,308
4,017, 770
3, 863,582
3, 457,192
3, 309,949
2, 962,277
2, 732,862
2, 632,184
- 3,424, 575
3, 088,709
3,607, 829
36
00
08
74
85
10
52
69
67
15
63
86
25, 490,914
' 25,813,058
26, 283,891
26, 493,612
26, 841,956
27, 247,696
27,295, 486
27, 042,806
26, 313,-113
25, 984,687
• 25,918,252
25,963, 641
88
08
96
56
74
93
63
63
63
76
00
48
82, 430,214
84,108, 826
85,477, 820
88, 402,021
90,817, 422
93, 102,068
94, 504,066
95, 724,013
95, 037,965
95, 985,640
97, 024,413
99,161, 408
24
08
04
30
59
03
15
32
30
91
63
34
1882—January 3 1 . . . .
February 28...
M a r c h 31
..
April 3 0 . . . . . . .
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30 .
October 3 1 . . . .
N o v e m b e r 30-i
December 3 1 . .
72,421.584
75,138; 957
78,178, 583
81, 595, 056
84, 606, 043
87,153, 816
88, 840, 899
91,166, 249
92,228, 649
92,414, 977
92, 940, 582
94, 016, 842
3, 258,926
2,806, 143
4,440, 661
3, 239,033
3, 793,664
3,230, 908
2,816. 269
2, 730,716
3, 343,565
4, 012,503
3, 769,219
4,468, 193
18
12
97
43
11
36
83
27
26
27
77
10
26, 567,873
26, 869.906
27,187, 680
27, 439,183
27, 755,923
28.048, 630
28.153, 956
27, 990,387
27,426, 139
26,749, 432
26, 544,544
26, 521,692
37
26
67.
93
33
58
16
75
93
45
43
20
102, 248,383
104,815, 006
109, 806,925
112, 273,273
116,155, 630
.118, 433,354
119, 811,124
121, 887,353
122, 998,354
123,176, 912
123,254, 346
125, 006,727
55
38
64
36
44
94
99
02
19
72
20
30
27,135,244 74
27, 507, 275 78
27, 8i)5, 993 79
28, 068, 628 88
28, 303,196 20
28, 486, 001 05
128, 428,171
131, 742, 833
135, 291, 766
137,913,727
141, 359, 390
144,882,236
86
82
09
03
96
34
1883-January 31.F e b r u a r y 28.,
M a r c h 31
A p r i l 30
May31
June30.....<
97, 530, 969
3,761,958 12
100,261, 444
3, 974,114 04
103,482, 305
3, 943,467 30
106j 366, 348
3,478,750 15
108,898, 977
4,-157, 217 76
111, 914, 019
4.482, 216 29
* See diagram.
: $7,2*60,268
8,453, 909
&, 217,015
11,484 678
17, 549;698
19, 944,883
21, 920,933
24, 295,663
26, 753,730
.27,933, 142
28, 072,745
31,012, 544
32,176, 094
84
29
41
87
45
97
81
55 _.
29
50
52
84
77
REPORT OF THE SECRETARY OF THE TKEASURY. LXXXIII
T A B L . I : \.—STATEMENT of the STANDABD SILVEB DOLLABS, SILVEB
BULLION, and SUBSIDIABY SILVEB COIN, ^^-c—Continued.
Standard" sUver
,. d o l l a r s .
1883—July 31
A u g u s t 31 —
S e p t e m b e r 29
October 3 1 . . . .
N o v e m b e r 30 ,
December 31.
$113, 057, 052
114,320,197
114, 587, 372
116, 036, 450
117, 768, 966
119,449, 385
1 8 8 4 — J a n u a r y 31 . . ,
F e b r u a r y 29 ..
M a r c h 31*
• A p r i l 30
M a y 31 . . . . . .
J u n e 30
J u l y 31
A u g u s t 30
S e p t e m b e r 30
October 3 1 . . .
N o v e m b e r 29
December 31.
123,474, 748
126, 822, 399
129, 066,101
130, 314, 065
132, 626, 753
. 135, .560, 916
137, 692,119
140,615,722
142, 058, 787
142,926,725
144,745, 075
146, 502,865
Silver bullion.
$4,486,638
4, 694, 559
. 5,107, 911
4, 936, 364
4, 624, 279
4, 534, 372
Subsidiary silver coin.
Total.
23
45
29
86
34
93
$28, 058,141 67
27, 819, 711 70
26, 750,161 13
26,712,424 15
26, 960, 614 40
27, 221,126 33
4, 674,432 92
4, 919,912 85
5, 043,824 61
5,150, 842 97
4, 623,158 03
4, 055,498 27
4, 003,609' 95
4,723, 420 00
4, 934,404 86
4, 646,496 89
4, 778,848 90
4, 716,055 33
28,014, 414 76
28, 490,906 91
28, 866,550 33
29,158, 480 47
29, 377,206 41
29, 600,720 05
29, 797,485 76
29, 659,003 38 •
29, 474,100 89
29,346, 757 24
29,143, 283 48
29,194, 355 52
156,163, 595 68
160, 233,218 76
162,916, 481 94
164, 62^,388 44
166, 627,117 44
169,217, 134 32
172,093, 214 71
174, 998,145 38
176,467, 352 75
176,919, 979 .13
178, 667,207 38
180, 413,275 85
$145, 601, 831 90
146, 834, 468 15
146, 445, 444 42
147, 655, 239 01
149, 362,859 74
151, 207, 884 26
1885—January 31 ...
F e b r u a r y 28 .
M a r c h 31 . . . .
A p r i l 30
May29
J u n e 30
J u l y 31
A u g u s t 30 —
S e p t e m b e r 30
October 3 1 . . .
N o v e m b e r 30
December 31.
150, 632,
153, 561,
156, 698,
159,441,
162, 244.
165.413,
166, 499,
166, 854,
165,483,
163, 817,
165, 568,
165, 718,
4, 613,582
3, 991,129
3, 887,493
4,042, 186
4, 098,143
4, 038,885
3, 944,837
3, 766,196
3, 916,122
3, 840,536
3, 583,956
3, 797,040
23
93
52
86
86
52
32
12
84
45
42
64
29, 901,104
30, 244,836
30, 632,326
30, 944,048
31, 694,364
31, 236,899
25, 355,020
24, 724,287
23, 641,893
22, 965,535
27, 920,309
27, 796,430
54
12
20
81
SO
49
23
43
79
70
44
88
185,146, 840
187, 796,973
191,218, 301
194, 427,269
198, 037,363
200, 688,897
195, 799,805
195,344, 698
193,041, 737
190, 623,414
197,072, 283
197, 311,661
77
05
72
67
66
01
55
55
63
15
86
72
1 8 8 6 — J a n u a r y 30 . .
F e b r u a r y 27 .
M a r c h 31
A p r i l 30
M a y 29
J u n e 30
J u l y 31
August 3 1 . . .
S e p t e m b e r 80
October 3 0 . . .
N o v e m b e r 30
169, 083, 385
171,805, 906
174, 700, 985
175,928, 502
178, 252, 045
181, 253, 566
181,523,924
181,769, 457
181, 262, 593
182, 931,231
184,911, 938
3, 658,783
2, 612,968
2,271, 104
2, 556,522
1, 947,761
3, 092,198
3,786, 069
3,268, 940
3,758, 393
3, 807,948
4,091, 383
44
08
42
03
61
45
56
39
89
52
17
29, 013,993
28, 811,037
28, 822;637
28,864, 482
28, 912,277
28, 904,681
28, 584,624
27, 956,991
26, 899,745
26, 300,335
25,808, 067
71
49
63
89
14
66
69
95"
20
88
32
162
203,229, 911
205, 794,727
207, 349,506
209,112, 083
213,250, 446
213, 894.618
212,995, 389
211, 920,732
213, 039,515
214, 811,388
15
57
05
92
75
11
25
34
09
40
49
I
201,15G,
T A B L E IS^.—STATEMENT showing the ANNUAL A P P B O P B I A T I O N S made hy CONGBESS for E A C H FISCAL YEAB from 1879 to 1887,
inclusive.
1st a n d 2d
s e s s i o n s 45th
Congress.
Fiscal year •
1879.
T o s u p p l y deficieucies for
t h e s e r v i c e of t b e v a r i o u s
b r a n c h e s of t h e G o v e r n ment
$15,213,259 21
F o r legislative, executive,
a n d j u d i c i a l e x p e n s e s of
the Government
15, 868,694 50
F o r s u n d r y civil expenses
of t h e G o v e r n m e n t
24, 968, 589 68
F o r s u p p o r t of t h e A r m y . . . 51, 279, 679 39
F o r the naval service
14,153,431 70
F o r t h e I n d i a n service.
.
4, 734, 875 72
F o r rivers and harbors
8, 322, 700 00
F o r for t s and f o r t i f i c a t i o n s .
275, 000 00
F o r s u p p o r t of M i l i t a r y
Academy
:
292, S05 00
F o r s e r v i c e of Post-Ofiice
Department
4, 222, 274 72
F o r invalid a n d other pens i o n s , i n c l u d i n g deficiencies . . .
29, 371, 574 00
F o r consular and diplomatic
service
1, 087, 535 00
F o r s e r v i c e of A g r i c u l t u r a l
Department
F o r e x p e n s e s of t h e Dist r i c t of C o l u r a b i a
F o r miscellaneous
2, 226, 390 29
Totals
172, 016, 809 21
3d s e s s i o n
2d s e s s i o n
j - l a t session
2d session
45th C o n g r e s s
2d sesgion
3d s e s s i o n
I s t session
1st s e s s i o n
a n d 1st session 46th C o n g r e s s . 46th C o n g r e s s . 47tli C o n g r e s s . 47th C o n g r e s s . 48lh C o n g r e s s . 48th C o n g r e s s . 49th C o n g r e s s .
46th C o u g r e s s ,
Fiscal year
Fiscal year
Fiscal year
Fiscal year
• F i s c a l veair
Fiscal year
Fiscal year
Fiscal year
1884.
1885.
1886:
1887.
1882. .
1881.
1883.
1880.
.
$4, 633, 824 55 $6,118,085 10
$ 5 , 1 1 0 , 8 6 2 39
$9, 853,869 30
$2,^832, 680 04
$4,385,836 10
16, 532, 008 93
17,797, 397 61
20,322,907 65
20, 763, 842 55
22,011,222
26,687, 800
14,566,037
4, 587, 866
11,451,300
575, 000
25, 425. 479
27, 032, 099
14,903,558
5,219, 603
18,988,875
375,000
23,713,404
24. 681, 250
15, 954, 247
5, 388, 655
21, 556, 901
o
22, 346, 749
24,454 450
t8, 931,856
5,903,151
14, 948, 300
700, 000
16,136.230 31
19, 724, 868 56 22, 503, 508 23
26, 797, 300 00 26, 425, 800 00
14, 028, 468 95 14,405,797 70'
4,713,478 58
4, 657, 262 72
9,577,494 61
8, 976, 500 00
275,000 00
550, 000 00
45
18
98
91
00
00
22
00
23
91
670, 000 00
65
$13,572,882 61
21,495,660 70
20,809,781 46
M
<
te
te
o
te
H
O
H
te
QQ
74
00
12
26
00
00
25,961,904
24.014, 052
1121, 280, 706
5,773, 328
12
50
93
56
725, 000 00
22, 650,658
23, 753, 057
16, 489, 556
5, 561, 262
14,464,900
59,876
49
21
72
84
00
69
t^
O
te
te
316,234 28
322,435 37
335, 557 04
318, 657 50
314,563 50
309,902 14
3, 883,420 00
. 2,152, 258 00
1, 902,177 90
Indefinite.
indefinite.
Indefinite.
41, 644, 000 00
68, 282, 306 68
116, 000, 000 00
*86, 575, 000 00
J20, 810, 000 00
60, 000, 000 00
76, 075, 200 00
1,180, 335 00
1,191,435 00
1, 256, 655 00
1, 296, 255 00
1,225,140 00
1, 242, 925 00
1, 364, 065 00
253, 300 00
335, 500 00
427, 280 00
405, 640 00
480,190 00
580, 790 00
654, 715 00
2,995,123 77
3, 425, 257 35
4, 959, 332 01
3, 379, 571 44
1,128, 006 15
3, 496, 060 47
5, 888, 993 69
3, 505,494 97
1,806.438 75
3, 594, 255 54
7, 800, 003 86
3, 622, 683 20
2, 268, 383 15
3,721,050 99
10,184, 570 90
P>
162,404, 647 76
155, 830, 841.32
179, 578, 999 86
251, 428,117 57
187,911,566 17
137,451, 397 77
170, 608,1.13 60
209, 659, 382 91
te
te
319,547 33
5, 872, 376 10
56,233,200 00
1, 097, 735 00
* A n d r e a p p r o p r i a t i o n of u n e x p e n d e d b a l a n c e s , e s t i m a t e d a t $38,000,000.
t F o r s i x m o n t h s e n d i n g D e c e m b e r 31, 1884. ,
; A n d r e a p p r o p r i a t i o n of u n e x p e n d e d b a l a n c e s , e s t i m a t e d a t $66,000,000:
87
00
55
80
00
00
§$3, 332, 717 30
X
X
X
297, 805 00
Indefinite.
O
H
te
te
OQ
§ N o t i n c l u d i n g $6,150,061.98 a p p r o p r i a t e d for t h e n a v a l s e r v i c e for s i x
e n d i n g J u n e 30, 1885.
II I n c l u d e s $6,150,061.98 for s i x m o n t h s e n d i n g J u n e 30, 1885.
raonths
REPORT OF T H E SECRETARY OF T H E TREASURY.
LXXXV
T A B I i E I^.-rSTATEMENT of the N E T B E C E I P T S {hy warrants) during the fiscal
year ended June 30, 1886.
CUSTOMS.
Quarter
Quarter
Quarter
Quarter
ended September30, 1885
ended December 31, 1885
ended March 31, 1886
ended Jtme 30, 1886..-.
$52,203,853 12
43,541,187 23
49,564,783 89
47,595,199 20
.
$192, 905, 023 44
INTERNAL BEVENUE.
Quarter ended September 30, 1885
Quarterended December 31, 1885
Quarter ended March 31, 1886
Quarterended June 30, 1886...
28,600,281 06
29,912,390 27
25,990, 668 74 . 32,302,596 41
116, 805, 936 48
SALES OF PUBLIC LANDS. "
'
Quarter ended September 30, 1885
1,173,574 87
Quarter ended December 31, 1885
1,742,073 31
Quarter ended March31, 1886
»
1,220,424 43
Qnarter ended June 30, 1886
1,494,926 73
•
.
5,630,999 34
'
T A X ON CIRCULATION O F N A T I O N A L BANKS.
Quarter ended September 30, 1885
1,354.386 72
Quarter ended December 31, 1885
7.125 46
Quarter ended March 31, 1886
1,324,342 46
Quarter ended June 30, 1886
7,858 23
2, 693,712 87
REPAYMENT OF INTEREST BY PACIFIC RAILROADS.
Quarter ended September 30, 1885
173,770 77
Quarter ended December 31, 1885
223,701 99
Quarter ended March 31, 1886
.'
168,435 74
Quarter ended June 30.1886
113, 280 93
679,189 43
CUSTOMS FEES, FINES, PENALTIES, AND FORFEITURES.
Quarter ended September30,1885
...„,
231,80128,
Quarter ended December 31.1885
260,518 81
Quarter ended March 31, 1886
227.633 70
Quarter ended June 30, 1886
294,829 79
1,014,783 58
FEES-^CONSULAR. LETTERS P A T E N T , AND LANDS.
Quarter ended Septeinber 30,1885
796,73112
Quarter ended December 31, 1885
;
896, 062 02
Quarter ended March 31, 1886
749,062 00
Quarter ended June 30, 1886...
941,715 05
3,383,570 19
PROCEEDS OF SALES OF GOVERNMENT PROPERTY.
Quarter
Quarter
Quarter
Quarter
ended
ended
ended
ended
September 30,1885
December 31, 1885
March 31, 1886
June 30, 1886
„„...
71, 689 37
88,662 23
40, 877 48
67,161 31
:
o
268, 390 89
PROFITS ON COINAGE.
Quarter
Quarter
Quarter
Quarter
ended
ended
ended
ended
September 30,1885
December 31, 1885
March 31, 1886
J u n e 30,1886-
724,358 01
1.072,581 02
1,484, 970 82
2, 622,709 41
'.
_
REVENUES OF DISTRICT OF COLUMBIA.
Quarter ended September 30, 1885
272, 033 03
Quarter ended December 31, 1885
.'..'.
'.
956,721 09
Qnarter ended March 31, 1886
145,880 98
Quarterended J u n e 30,1886
731,195 51
Quarter ended September 30, 1885
Quarterended December 31, 1885
Quarter ended March 31, 1886
Quarter ended J u n e 30,1886
MISCELLANEOUS.
'.
:...
Total ordinary receipts', exclusive of loans
Receipts from loans, certificates, and notes
Total receipts.
Balancein Treasury June 30, 1885
I
Grand total
."
1,160,700 04
1,524,598 15
1,104,475 21
1,257,898 07
.
:...
o
:
5,904,619 26
2,105,830 61
5,047,671 47
336,439,727 06
116, 314, 850 00
452,754,577 00
521,794,026 26
974,548,603 32
LXXXVI REPORT OF THE SECRETARY OF THE TREASURY
T A B I i E m.—STATEMENT ofthe N E T DISBUBSEMENTS {hy ivarrants) during ^
the fiscal year ended June 30, 1886.
CIVIL.
Congress
Executive
Judiciary
Government in the Territories
Sub-treasuries
Public land oflfices
Inspection of foreign steam vessels
Mints and_assay offices
Total civil
$5,925,728 08
10,764,453 67
3, 799, 641 65
265, 706 45
350, 795 80
607, 627 83
22, 953 36
218,697 20
1
'
o "
$21,955,604 04
FOREIGN INTERCOURSE.
Diplomatic salaries
.'
Consular salaries
—
Contingent expenses of foreign missions
Contingencies of consulates
;.
Prisons for Araerican convicts
Commission to Central and South America
Publication of consular and commercial reports.
Expenses Court of Alabama Claims .
,
Spanish iudemnity
Miscellaneous ..."
Total foreign intercourse
$367, 083 36
549, 418 49
74, 655 44
126, 939 61
6, 635 51
7,223 48
20, 000 00
84, 394 34
27, 907 43
68, 063 22
:
$1,332,320 88
MISCELLANEOUS.
Mint establishinent
Life-saving service
:
Revenue-cutter service
Engraving and printing
^
Coast and Geodetic Survey
Light-house establishment
Marine-hospital establishment
:
,
Custom-houses, court-houses, post-offices, &c
Repairs and preservation of public buildings
Pay of assistant custodians and janitors for public buildings
Fnel, lights, and water for public buildings
Furniture and heating apparatus for public buildings ,
:.,
Yaults, safes, aud locks, and plans for public buildings
Refunds, reliefs, &c., under customs laws
Collecting reveuue fr-om customs
Detection and prevention of frauds on customs revenue
Refunding excess of deposits, &c
Debentures and drawbacks under customs laws
Compensation in lieu of moieties
:
Expenses of regulating immigration
Inspection of neat cattle
Salaries and expenses shipping service
Expenses seal fisheries in Alaska. .^.
Assessing and collecting internal revenue
Internal-revenue stamps, paper, and dies
Redemption of internal-revenue stamps
"
Punishing violations of internal-revenue laws
Refunds, reliefs, &c., under internal-revenue laws
Allowance or drawback under internal-revenue laws
Rebate of tax on tobacco
/
Payment of jiidgments. Court of Claims
Preventing the spread of epidemic diseases
Expenses of national currency
L...
Distinctive paper for United States securities
Suppressing counterfeiting and other crimes
Propagation, &c., of food fishes
Expenses under Smithsonian Institution
Contingent expensed. Independent Treasiiry
Mail transportation. Pacific railroads
^
World's Industrial Exposition, New Orleans, La
Expenses of tho District of Columbia
Charitable institutions. District of Columbia
Washington aqueduct
Water fund, Districtof Columbia
Interest and sinking-fund, District pf Columbia
Refunding taxes. District of Columbia
Guarantee fund, District of Columbia
Improvements and repairs. District of Columbia
Sewerage system, District of Columbia
Buildings and grounds in Washington under Chief Engineer
State, War, and Navy Department building
Fuel, lights, and water, State, War, and Navy Department building .
Reliefs, reimbursements, &c
.'.....
Completion of Washington Monument '.
Various monuments and statues
Support and treatment of transient paupers
$919,155 57
880, 735 28 '
905,142 33
, 280, 589 67
516, 251 69
2, 073, 358 91
466, 799 27
2,456, 924 85
157, 065 39
288,195 57
528, 813 18
279,725 46
46, 341 54
11,869 99
6,427, 612 67
15, 332 67
3, 289, 561 45
8, 074, 429 70
24, 500 22
162, 962 67
18,103 57
53. 325 40
22,937 49
3, 578, 679 42
, 427,460 57
24,691 23
38,277 79
9,277 56
34, 654 30
279 03
7,209 00
72,157 73
:
85,163 83
4, 227 75
59,331 59
248, 841 48
92,020 48
84, 537 99
1, 041, 933 08
331, 526 11
1, 940, 387 94
171, 978 31
20, 000 00
149, 991 40
1,213, 947 .97
2,421 18
25, 717 09
401, 835 50
199, 990 47
95.461 52
500,138 53
34, 000 00
51, 545 71
57, 000 00
42,167 25
15, 000 00
i
REPORT OF THE SECRETARY OF THE TREASURY. LXXXVIT
• T A B I i E m.—STATEMENT of the NET. DISB UBSEMENTS {hy warrants) during
thefisoal year ended June 30, 1886—Continued.
Department of Agriculture
Deficiencv in the postal revenues . Capitol building and grounds
Interior Department building
Pension Office building
Government Hospital for the Insane
Columbia Institution for the Deaf and Dumb
Freedman's Hospital and Asylum
Howard University
National Museum
Expenses of Tenth Census
Semi-decennial census of 1885
Penitentiary buildings in Territories
,
Payment of' surplus proceeds of lands sold for direct taxes
Surveying public and private lands
Geological Survey
Yellowstone National Park
2
^.
Hot Springs Reservation, Arkansas
Deposits by individuals for surveying public lands
Repayment for lands erroneously sold - - Swamp lands and swamp-land indemnity
Depredations 011 public timber
Protecting public lands
Five, three, and two per cent, fund to States
Photolithographing, &c., for the Patent Office
Purchase and management of Louisville and Portland Canal
Erection of fish-ways at Great Falls
Building for Army Medical Museum and Library
Miscellaneous items
.<^
.:.
...'.
J
....
..
.^
*
485, 374 85
8,193, 652 02
239,086 99
6,123 61
105,965 36
227,467 36
71,979 80
49,083 68
24,500 00
153, 008 74
100,098 60
95,778 25
24,849 08 •
8,955 69
79,877 68
464,142 45
39,526 96
23,252 28
100,799 59
53,150 32
65,790 24
62,424 36
94,557 03
96,312 50
141,286 39
423,190 00
35,623 69
51,518 75
394,042 33
Total miscellaneous
$50, 879,004 93
I N T E R i p R DEPARTMENT.
Indians
Pensions
.•.
6,099,158 17
63,404,864 03
Total Interior Department
69,504,022 20
MILITARY ESTABLISHMENT.
Pay Department.
Pay Department, bounty and miscellaneous
Coinmissary Department
Quartermaster's Department
Purchase and repair of building at New York for Quartermaster's Department
Medical Department
Ordnance Department
,.
Militarv Academy
Improving rivers andharbors
Fortifications
Construction of military posts, roads, &c
National cemeteries, roads, &c
Mississippi River Commission
Claims, reimbursements, reliefs, &c
Expenses of recruiting
Contingencies of the Army
Signal Service
Expenses of military convicts.
'
Publication of the Official Records of the War of the Rebellion
Miscellaneous surveys
=
Support of the National Home for Disabled Volunteer Soldiers
Soldiers' Home
:
',
,
Support of military prison, Fort Leavenworth, Kans
Army and Navy Biospital, Hot Springs, A r k
Miscellaneous items
12,094,557 66
49, 980 09
1, 628,004 90
8,967,014 74
267,177 00
725,678 98
1, 621,887 84
296,503 15
4,089,193 47
412,227 38
254,389 17
205,019 84
12, 505 00
168,742 82
67,945 87
56,214 10
809,729 03
6,208 70
51,000 00
11,064 65
1,472,000 00
" 419,571 72
82,816 91
12,500 00
542,219 72
Total military establishment
34,324,152 74
NAVAL ESTABLISHMENT.
Pay and contingencies of the Navy
> Marine Corps
--NavalAcademy
Navigation
:
Ordnance
Equipment and recruiting
Yards and docks
Medicine and surgery
Provisions and clothing
Construction and repair
«
:.:
Steam engineering~
Increase of, the Navy
JCxtra pay to officers and men who served in the Mexican war
I
7,752,356 39
847,985 41
176,516 23
91, 223 45
324,185 05
39,328 57
663,109 59
90,302 52
1,139,633 77
1,135,907 89
783,135 30
1,464,635 87
58,310 73
V
LXXXVIII REPORT OF THE SECRETARY OF THE TREASURY.
T A B I i E m.—STATEMENT of the NET DISBUBSEMENTS {by ivarrants) during
thefiscal year ended June 30, 1886—Continued.
NAVAL ESTABLISHMENT—Continued.
Miscellaneous....
.181,010 24
Less excess of repayment, general account of advances— $779,940 26
Less excess of repayment, mileage
59, 813 00
Total naval establishment
Intereston thepublic debt
Total net ordinary expenditures
Redemption of the public debt
:
Total expenditures
'.
Balance in Treasury June 30, 1886
Grand total
.^
1.
14,747, 641 00
839,753 26
13. 907, 887 74
50.580,145 97
242,483,138 50
205,216,709 36
447,699,817 86
526,848,755 46
974,548,603 32
i
REPORT OF THE SECRETARY OF THE TREASURT. LXXXIX
T A B I i E N.—STATEMENT of the net BECEIPTS and DISB UBSEMENTS {hy warrants) for the quarter ended Septemher 30, 1886.
RECEIPTS.
Customs
•
Internalrevenue
'
Sales of public lands
,
Tax on national banks
Repayment of interest by Pacific Railroads
Customs fees,, fines, penalties, and forfeitures
Fees—consular, letters patent, and lands
Proceeds of salesof Government property
Profits on coinage, &c
Miscellaneous
.o
$59,177,586 50
28,930,043 94
1,827,781 46
1, 252,498 57
203, 503 45
232,998 88
814,359 39
48,508 21
582,694 65
1,875 617 52
;
94, 945, 592 57
526, 848, 755 46
:...
.*
,
Total net ordinary receipts
Balance in the Treasury J u n e 30, 1886
:
Total
'
621,794,348 03
DISBURSEMENTS.
Customs
Internalrevenue
Diplomatic
Quarterly salaries
Treasury
Judiciary
Interior civil,
i
:...:
:
Total civU and miscellaneous
Indians
Pensions .. Military establishment
Naval establishment
Intereston thepublic debt
Judgments, Court of Alabama Claims
-
.'—
Total net ordinary expenditures
Redemption of public debt in excess of issues
Unavailable
Balance in the Treasury September30, 1886
Total
I
$7,046,463 83
1,070,645 02
391,142 67
109,260 29
9,690,282 86
1,117,485 58
2,075,435 03
..'.
...:
21,500,715 28
1,621,973 62
20,401,137 52
9,726,804 09
4,603,230 59
13.210,226 86
5, 721, 076 38
.1
i
76,785,164
46,094,156
7,997
498,907,030
34
00
64
05
621,794.348 03
XC
REPORT
OF
THE
SECRETARY
OF
THE
TREASURY.
T A B I i E €^.—STATEMENTof B E C E I P T S o f U N I T E D S T A T E S J r o m March 4,1789
Balance in
the Treasury
at commencement of year.
Customs.
Internal revenue.
1791
$4,399,473 09
3,443, 070 85
1792
$973, 905 75
$208, 942 81
4, 255, 306 56
783,444 51
337,705 70
1793
753,661 69
1794
4, 801, 065 28
274, 089 62
5,588,461 26
337, 755 36
1795
1,151, 914 17
516, 442 61
475, 289 60
1796
6, 567, 987 94
888,i)95' 42
1797
7, 549, 649 65
575,491 45
1,021,899 04
• 7.106, 061 93
644, 357 95
1798
617,451 43
6, 610,449 31
1799
779,136 44
9, OSO, 932 73
2,161, 867 77
809, 396 55
1800
1801
2, 623, 311 99 • 10, 750, 778-93
1, 048, 033 43
1802
3,295,391 00
12,438, 235 74
621, 898 89
5, 020, 697 64
10,479, 417 61
215,179 69
1803
4, 825, 811 60
50, 941 29
1804
11, 098, 565 33
4.037,005.26
1805
12, 936,487 04
21,747 15
3, 999, 388 99
1806
14, 667, 698 17
20,101 45
4, 538,123 80
15, 845, 521 61
13, 051 40
1807
9, 643, 850 07
8,190 23
1808
16, 363, 550 589, 941, 809 96
4, 034 29
1809
7, 257, 506 62
3, 848,056 78
7, 430 63
1810
8, 583, 309 31
2, 295 95
1811
2, 670, 276 57
13, 313, 222 73
4, 903 06
8, 958, 777 53
1812
3, 502, 305 80
4, 755 04
1813
3, 862, 217 41
13, 224, 623 25
1814
5,196, 542 00
5, 998, 772 08 1, 662, 984 82
7, 282, 942 22 4, 678, 059 07
1815
1, 727, 848 63
5,124, 708 31
13,106, 592 88
36, 306, 874 88
1816
22, 033, 519 19
1817
26, 283, 348 19
2, 678,100 77
14, 989,465 48
17,176, 385 00
955, 270 20
1818
20, 283, 608 76
229, 593 63
1819
1,478, 526 74
106, 260 53
1820
2, 079, 992 38
15, 005, 612 15
1821
1,198,461 21
13,004,447 15
69, 027 63
1822
1, 681, 592 24
67, 665 71
17, 589, 761 94
34, 242 17
1823
19,088,433 44
4, 237, 427 55
34, 663 37
17, 878, 325 71
1824
9,463, 922 81
25, 771 35
1, 946, 597 13
1825
20, 098, 713 45
21,
589 93
5, 201, 650 43
1826
23,341,331 77
19,885 68
1827
6, 358, 686 18
19, 712, 283 29
17,451
54
6, 668,286 10
23,205, 523 64
1828
5, 972,435 81
22,681,965 91
1829
14, 502 74
12,160 62
1830
5, 755,704 79
21, 922, 391 39.
6, 014, 539 75
1831
24, 224,441 77
6, 933 51
4, 502, 914 45
1832
28,465, 237 24
11, 630 65
2,011,777 55
29, 032, 508 91
1833
2, 759 00
1834
11, 702, 905 31
4,196 09
16, 214,957 15
8, 892, 858 42
10,459 48
1835
19, 391, 310 59
26, 749, 803 96
23,409, 940 53
1836
" 370 00
46,708, 436 00
11,169, 290 39
1837
5. 493 84
37, 327, 252 69 . 16,158,800 36
1838
2,467 27
36, 891,106 94
1839
2, 553 32
23,137, 924 81
33,157, 503 68
1, 682 25
13,499, 502 17
1840
3,261 36
14,487, 216 74
1841
29, 963,163 46
18,187, 908 76
1842
28,685, 111 08
495 00
7,046,843
91
1843" 30, 521, 979 44
103 25
26,183, 570 94
1844
39,186, 284 74
1, 777 34
36, 742, 829 62
1845
3,517 12
27, 528,112 70
36,194, 274 81
1846
26, 712, 667 87
2, 897 26
38,261,959 65
1847
23,747,864 66
375 00
33, 079, 276 43
31, 757, 070 96
375 00
1848
29,416, 612 45
1849
28, 346, 738 82
32, 827, 082 69
1850
39, 668, 686 42
35, 871, 753 31
1851
49,017,567 92
40,158,353 25
1852
47, 339, 326 62
43, 338, 860 02
58, 931, 865 52
1853
50, 261,901 09
64, 224,190 27
1854
48,591,073 41
53, 025, 794 21
1855
47, 777, 672 13
64, 022, 863 50
1856
49, 108, 229 80
63, 875, 905 05
1857
46,
802,
855
00
41,789,620
96
1858
35,113, 334 22
49, 565, 824 38
1859
33,193,
248
60
53,187,
511
87
1860
32. 979, 530 78
39, 582,125 64
1861
30;
963,
857
83
49,
056,
397
62
1862
46. 965, 304 87
69, 059, 642 40 37, 640, 787 95
1863
36,523,046
13
1864
102, 316,152 99 109, 741,134 10
1865 134, 433, 738 44
84,928,260 60 209, 464,215 25
Direct tax.
Public lands.
Miscellaneous.
, $4, 836 13
.83,540 60
11, 963 11
$734,233 97
534, 343 38
206, 565 44
71,879 20
50,198 44
21, 882 91
55, 763 86
34, 732 56
19,159 21
7, 517 31
12, 448 68
7,666 66
859 22
3, 805 52
2, 219,497 36
2,162, 673 41
4,253,635 09
1, 824,187 04
264, 333 36
83, 650 78
31, 586 82
29, 349 05
20, 961 56
10, 337 71
6, 201 96
2, 330 85
6, 638 76
2, 626 90
2, 218 81
. 11, 335 05
16, 980 59
10, 506 01
6, 791 13
394 12
19 80
4, 263 33
- 728 79
1, 687 70
443 75
167,726 06
188, 628 02
165, 675 69
487, 526 79
540,193 80
765, 245 73
466,163 27
647, 939 06
442, 252 33
696, 548 82
1, 040, 237 53
710,427 78
835, 655 14
1,135, 971 09
1, 287, 959 28
1, 717, 985 03
1, 991, 226 06
2, 606, 564 77
3, 274,422 78
1, 635, 871 61
1, 212, 966 46
1, 803, 581 54
916, 523 10
984,418 15
1,216,090 56
1, 393, 785 09
1, 495, 845 26
1.018,308 75
1, 517,175 13
2, 329, 356 14
3, 210, 815 48
v2, 623, 381 03
3, 967, 682 55
4, 857, 600 69
14, 757, 600 75
24, 877,179 86
6, 776, 236 52
3, 730, 945 66
755 22
7, 361, 576 40
3,411, 818 63
1, 365, 627 42
1, 335, 797 52
898,158 18
2, 059, 939 80
2, 077, 022 30
2, 694, 452 48
2,498, 355 20
3, 328, 642 56
1, 688, 959 55
1, 859, 894 25
2, 352, 305 30
2, 043, 239 58
1, 667, 084 99
8,470,798 39
11,497,049 07
8,917, 644 93
3, 829,486 64
3, 513,715 87
1,756, 687 30
1,778, 557 71
870. 658 54
1, 795, 331 73
152, 203 77
1,485,103 61
167, 617 17
588, 333 29
475, 648 96
996, 553 31
1, 200, 573 03
$10, 478 10
9, 918 65
21, 410 88
53, 277 97
• 28,317 97
1,169.415 98
• 399,139 29
58.192 81
86,187 56
152, 712 10
. 345, 649 15
1, 500, 505 86
131, 945 44
139, 075 53
40i 382 30
•51,121 86
38, 550 42
21.822 85
62,162 57
84,476 84
59, 211 22
126,165 17
271, 571 00
164, 399 81
285,282 84
273,782 35
109, 761 08
57,617 71
57, 098 42
61,338 44
152, 589 43
452, 957 19
141,129 84
127, 603 60
130, 451 81
94, 588 66
1, 315, 722 83
65,126 49
112, 648 55
73,227 77
584,124 05
270,410 61
470,096 67
480,812 32
759,972 13
2, 245, 902 23
7, 001,444 59
6, 410, 348 45
979, 939 86
2, 567,112 28
1, 004,054 75
451, 995 97
285, 895 92
1, 075, 419 70
361,453 68
289, 950 13
220, 808 30
612,610 69
685, 379 13
2, 064, 308 21
1,185,166 11
464, 249 40
. 988, 081 17
1,105, 352 74
827, 731 40
1,116,190 81
1, 259,920 88
1, 352, 029 13
1,454, 596 24
1,088,530 25
1.023,515 31
915,327 97
3,741,794 38
30,291,701 86
25,441, 556 00
* For the half-year from J a n
I
REPORT
OF
THE
SECRETARY
OF
THE
TREASURY.
XCI
ioJune 30,1886, hy calendar years to 1843 and hy fiscal years {ended June 30)/row that time.-
Dividends.
Net ordinary
Interest.
receipts.
$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
1, 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, 24,
490, 000 00, 24,
490, 000 00, 24,
490, 000 00, 28,
490, 000 00. 31
474, 985 00^ 33;
234, 349 50' 21,
506, 480 82; 35,
292, 674 67
Premiums.
Receipts
from locins und Gi'oss receipts.
Treasury
notes.
951 19
960 31
923 14
904 87
534 59 $4, 800 00
529 65 42, 800 00
780 99
495 80 78, 675 00
813 31
749 10
330 95 'i6,'i25'6o
793 95
097 63
307 38
693 20
931 07
019 20
661 93
473 12
214 28
634 09
132 76
409 95
300 00
625 16
85 79
916 82 11, 541 74
$32,107 64
985 66 68, 665 16
686 09
049 74 267, 819 14
171 04
412
62
374 37
669 55
40, 000 00
379 72
427 94
666 26
212 79
858 03
434 21
363 96
629 23
627 38
116 51
820 82
450 66
426 25
935 55
087 10
796 08
1.53 04
561 74
749 61
115 33
160 27
197 25
001 26
71,700 83
707 78
105 80
967 74
403 16
28, 365 91
699 21
077 50
37,080 00
888 88
487, 065 48
039 33
10, 550 00
815 60
4, 264 92
031 68
341 40
22 50
574 68
699 24
312 57
365 96
107/92
599 83
709, 357 72
299 49
10, 008 00
261 09
33, 630 90
945 51
68,400 00
971 20
602, 345 44
158 19
21,174,101 01
11,683,446 89
uary 1 to June 30, 1843.
-vn
Unavailable.
$361, 391 34 $4,771 342 53
5,102, 498 45
8, 772; 458 76
1, 797, 272 01
6, 450 195 15
4, 007, 950 78
9, 439, 855 65
3, 396, 424 00
9,515 758 59
320, 000 00
8, 740, 329 65
8, 758, 780 99
° 70, 000 00
8,179, 170 80
200, 000
5,000, 000 00 12, 546 813 31
1, 565, 229 24 12,413 978 34
12, 945 455 95
14, 995; 793 95'
11,004 097 63
11,826 307 38
13, 560 693 20
15; 559, 931 07
16, 398 om 26
17, 000 661 93!
7, 773 473 .12
2,750,000 00 12,134 214 28
14, 422 634 09
12, 837, 900 00 22, 639, 032 76
26,184, 135 00 40, 524; 844 95
23, 377, 826 00 34, 559, 536 95
35, 220, 671 40 50, 961 237 60
9, 425. 084 91 57,171 421 82
466, 723 45 33, 833 592 33
8, 353 00 21, 593; 936 66
291 00 24, 605 665 37
• 2,
3, 000, 824 13 20, 881 493 68
5,000, 324 00 19, 573 703 72
20, 232 427 94
20, 540, 606 26
5,000, 000 00 24, 381 212 79
5, 000, 000 00 26, 840,' 858 02
25, 260 434 21
22, 966 363 96
24, 763,' 629 23
24, 827 627 38
24, 844 116 51
28, 526 820 82
31, 867 450 66 $1,889 50
33, 948 426 25
21,971 935 55
35, 430: 087 10
50, 826 796 08
2, 992, 989 15 27, 947 142 19 63, 288 3j5
12, 716, 820 80 39, 019: 382 60
3, 857, 276 21 35, 340, 025 821, 458, 782 98
5, 589, 547 51 25, 069 662 84 37,469 25
13, 659, 317 38 30, 519 477 65
14, 808, 735 64 34, 784 932
*li,'i88'66
12, 479, 708 36 20, 782 410 45
1, 877,181 35 31, m, 555 73
29, 970 105 80 28, 251 90
29, 699 967 74
28, 872, 399 45
55, 368 168 52 "3o,'oo6'66
21, 256, 700 00 56, 992 479 21
28, 588, 750 00 59, 796 892 98
4, 045, 950 00 47, 649 388 88
203, 400 00 52, 762 704 25
49, 893 115 60
,46, 300 00
16, 350 00 61, 603 404 18 103,301 37
2, 001 67 • 73, 802, 343 07
800 00 6.5, 351 374 68
200 00 74, 056 899 24
900 00 68, 969 212 57
23, 717, 300 00 70, 372 665 96
81,773 965 64 15, 408 34
28, 287, 500 00
20, 776, 800 00 76, 841 407
83.371 640 13
41, 861, 709 74
529, 692, 460 50 581; 680, 121 59 11,110 81
776, 682, 361 57 889, 379; 652 52
6,000 01
128, 873, 945 36 1, 393, 461 0.17 57
9, 210 40
472, 224, 740 85 1, 805, 939; 345 93
6,095 11
XCII
REPORT OF THE SECRETARY OF THE
TREASURY.
T A B I . S ] Oo—STATEMENT ofthe B E C E I P T S of the UNITED
^
Balance in t h e
Treasury at
comm era c e m e n t of year.
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
1883
1884
1885
1886
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
275, 450, 903
374,189, 081
424, 941,403
521,794.026
09
87
76
51
15
85
41
54
32
21
88
88
65
44
37
53
98
07
26
Internal revenue.
Customs.
$179,046,651 58
176,417, 810 88
164, 464, 599
180,048,426
194, 538, 374
206, 270, 408
216, 370, 286
188, 089, 522
163,103, 833
157,167,722
148, 071, 984
130,956,493
130,170, 680
137, 250, 047
186, 522, 064
198,159, 676
220,410, 730
214, 706,496
195, 067,489
181, 471, 939
192,905, 023
56
63.
44
05
77
70
69
35
61
07
20
70
60
02
25
93
76
34
44
5,641,684,782 14
Direct tax.
$309, 226, 813 42 $1,974,754 12
266,027, 537 43 4, 200, 233 70
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
144, 720, 368
121, 586, 072
112,498,725
116, 805, 936
41 1, 788,145 85
765, 685 61
86
229,102 88
49
580, 355 37
63
72
315,254 51
14
90
58
03
93,798 80
83
74
58
92
30 85
51
1, 516 89
45
160,141 69
98
108,156 60
51
70,720 75
54
48 ' " i o s , " 239 "94'
P u b l i c lands. Miscellaneous.
$665, 031 03 $29, 036, 314 23
1,163; 575 76 15, 037, 522 15
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
976,253
1,079; 743
924, 781
1, 016. 506
2,201; 863
4, 753,140
7, 955, 864
9,810,705
5,705, 986
5, 630, 999
41
34
76
68
19
38
93
17
95
68
37
66
60
17
37
42
01
44
34
17, 745,403
13, 997, 338
12, 942,118
22,093, 541
1^,106,051
17,161, 270
32, 575, 043
15, 431, 915
24, 070. 002
30, 437, 487
15,614,728
20, 585, 697
21, 978, 525
25,154, 850
31, 703, 642
30, 796, 695
21. 984, 881
24, 014, 055
20, 989; 527
59
65
30
21
23
05
32
31
31
42
09
49
01
98
.52
02
89
06
86 ]
3,449,466,065 24 28,097, 532 45 241,622, 878 16 568,072, 013 35 '
* Amount heretofore credited to the Treasurer as
i
REPORT OF' T H E SECRETARY OF THE
TREASURY.
XCIII
STATES from March 4, 178.9, io June 30, 1886, cjrc—Continued.
Dividends.
1866
1867
Net ordinary Interest.
receipts.
$519, 949, 564 38
462, 846, 679 92
Premiums.
Receipts from
loans and
Gross receipts.
Treasury
notes.
Unav-ailable.
$38, 083, 055 68 $712, 851, 553 05 $1, 270, 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
1868
1809
1870
1871
1872
1873
1874
1875
1876
1877
1878
18T9
1880
1881
1882
1883
1884
1885
1886
434, 453 82
188, 256 09
959, 833 87
431, 104 94
694. 229 91
177, 678 78
941, 090 84
020, 771 41
066, 584 70
000, 642 00
446, 776 40
322, 136 83
526, 500 98;
782, 292 57
525, 250 281
287, 581 95|
519, 869 92
690, 706 38j
439, 727 06
29, 203,629
13, 75.5,491
15, 295,043
8, 892,839
9,412, 637
11,.560, 530
5, 037,665
3,979, 279
4, 029,280
405, 776
317, 102
1,505, 047
110
50
12
76
95
65
89
22
69
58
58
30
63
00
62.5,111, 433 20 1, 030,749, 516
238, 678,081 00
609, 621, 828
696, 729, 973
285, 474,496 00
6.52, 092,468
268,'768, 523 47
679, 153. 921
305, 047,054 00
548, 669; 221
214, 931,017 00
744,
439, 272,535 46
251, 291
675. 971, 607
387,971, 556 00
691, 551, 673
397, 455,808 00
630, 278,167
348, 871,749 00
662, 345, 079
404, 581,201 00
792, 807,643 00 1, 066,634, 827
545, 340, 713
211,814, 103 00
113, 750,534 00 474, 532, 826
524, 470, 974
120, 945,724 00
954, 230,145
555, 942,564 00
555, 397, 755
206, 877,886 00
568, 887, 009
245,196, 303 00
116,314, 850 00 452, 754, 577
*2,'670"73
*3, 396 18
*18, 228 35
*3, 047 80
12, 691 40
*1, 500 0047, 097 65.
;$9,720,136 29 9,938,663,407 63 $485, 224 451204, 259, 220 83] 11.956,321,568 84|22,099,729, 421 75|2,707,464 18
unavailable, and since recovered and charged to hie account.
k
XCIV
REPORT OF THE SECRETARY
OF T H E
TREASURY.
T A H I i S ^ W>.—STATEMENTof E X P E N D I T U B E S o f UNITEDSTATES from Mar.4,
Year.
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,
1841,
1842,
1843'
1844
1845
1846,
1847.
1848
1849
1850
1851
1852
1853
1854,
1855.
1856
1857
1858
1859
1860
1861
1862
1863
1864
War.
$632, 804 03
1,100, 702 09
1,130, 249 08
2, 639,097 59
2, 480,910 13
1, 260,263 84
1, 039,402 46
2, 009,522 30
2, 406,946 98
2, 560,878 77I
1, 872,944 08!
1,179, 148 251
822, 055
875, 423 93i
712, 781 28
1, 224,355 38
1, 288,085 9l|
2, GOO,834 40
3, 345,772 17
2, 294,323 94
2, 032,828 19
11, 817,798 24
19, 652,013 02
20, 350,806 86
14, 794,294 22
16, 012,096 80|
8, 004,236 53
5, 622,715 10
6, 506,300 37
2, 630,392 31
. 4,461,291 7
3, 111,981 48|
3, 090,924 43
3, 340,939 85!
3, 659,914 18!
3, 943,194 371
3, 948,977 88|
4,145, .544 56
4, 724,291 07
4,767, 128 881
4,841, 835 55i
5,446, 034 88
6, 704,019 10
5, 696,189 38
5,759. L56 89
11,747; 345 25
13, 682,730 80
12, 897,224 16
8, 916,995 80
7, 095,267 23
8, 801,610 24
6, 610,438 02
2, 908,671 95
5, 218,183 66
5,746, 291 28
10, 413,370 58
35, 840,030 33|
27, 688,334 21
14, 558,473 26|
9, 687,024 58
12,161,965 11
8, 521,506 19
9, 910,498 491
11,722, 282 87
14, 648,074 0'
16,963, 100 51
19,159, 150 871
25, 679,121 63
23,154, 720 53
16,472, 202 72i
23,001, 530 67
562 29|
389,173, 411 82
603, 314,048 66
690,391,
Navy.
* $61,408 97
410, 562 031
• 274, 784 04!
382, 631 89
1, 381, 347 76
2, 858, 081 84
3, 448, 716 03
2,111,424 00
9L5, 561 87|
1, 215, 230 53
1,189, 832 75
1, 597, 500 00
1.649,641 44
1, 722, 064 47
1, 884, 067 80
2, 427, 758 80
1, 654, 244 20
1, 965, 566 39
3, 959, 365 151
6, 446, 600 10
7, 311, 290 60
8, 660, 000 25;
3, 908, 278 33
3, 314, 598 49
2, 953, 695 00
3, 847, 640 42
4, 387, 990 00
3,319,243 06
2, 224, 458 98!
2,508,705 831
2, 904, 581 56
' 3, 049, 083 86
4, 218, 902 45
4, 263, 877 45,
3, 918, 786 441
3, 308, 745 47
3, 239, 428 63
3, 850,183 07
3, 956, 370 29,
3, 901, 3.56 75
3, 956, 260 42
3. 804, 939 06
5, 807, 718 23
6, 646, 914 53
6,131, 580 53
6,182, 294 25,
6,113, 896 89
6,001.076 "~
8.397,242 ,.
3,727,711 53
6,498,199 11
6, 297,177 89
6,4.55,013 92
7,900,635 76
9, 408, 470 02'
9, 786, 705 92|
7, 904, 724 66!
8,880,581 38
8,918,842 10
11, 067, 789 53
10, 790, 096 32
13, 327, 095 11!
14, 074, 834 64
12,651,694 61
14, 053, 264 64,
14, 690, 927 90|
11,514,649 83
12, 387,156 52
42, 640, 353 09
63, 261,235 31
85,704, 963 74
Indians.
Pensions.
Miscellaneous.
$27, 000 00
$175, 813
13, 648 85
109, 243
27, 282 83
80, 087
13, 042 46
81, 399
23, 475 68
68, 673
113, 563 98
100, 843
62, 396 58
92, 256
16,470 09
104, 845
20, 302 19
95,444
31 22
64,130
9, 000 00
73, 533
94, 000 00
85,440
60, 000 00
62, 902
116, 500 00
80, 092
196, 500 00
81, 854
234, 200 00
81, 875
205,425 00
70, 500
213,575 00
82, 576
337, 503 84
87, 833
177, 625 00
83, 744
151, 875 00
75, 043
277, 845 00
91, 402
167. 358 281
86, 989
167,394 86
90,164
530, 750 00
69, 656
274, 512 16
188, 804
319,463 71
297, 374
505, 704 27
890,719
463,181 39
2, 415, 939
315,750 01
3, 208, 376
477, 005 441
242, 817
575, 007 411
1,948,199
380, 781 82
1, 780, 5S8
429, 987 90
1,499, 326
724,106 44
1, 308, 810
743, 417 83
1, 556, 593
750, 624 88|
976,138
705, 084 241
850, 573«
576, 344 74'
949, 594
622, 262 47
1,363.297
930, 738 04
1,170, 665
1, .352, 419 75| 1,184, 422
1,802,980 93
4, 589,152
1, 003, 953 2O1
3, 364, 285
1, 706, 444 4&I
1,954,711
5, 037, 022
2, 882,797
4, 348, 036 191
2, 6T2,162
5, 504,191 34 ' 2,156, 057
2, 528, 917 281
3,142, 750
2, 331, 794 86
2, 603, 562
2, 514, 837 12
2, 388, 434
1,199, 099 68
1, 378, 931
578,371 00
839, 041
• 1, 2.56, 532 39 2, 032, 008
1, 539. 351 35
2, 400, 788
»1, 027, 693 64
1, 811, 097
1,430,411 30| 1, 744, 883
1,252,296 81[
1,227,496
1, 374,161 55
1, 328, 867
1, 663, 591 47I
1, 866, 888
2, 829, 801 771
2, 293, 377
3, 043, 576 04
2,401,858
3, 880,494 121
1, 756, 306
1, 550, 339 55
1, 232, 665
2, 772, 990 78|
1, 477, 612
2, 644, 263 97
1, 296, 229
4, 354, 418 87
1,310,380
4, 978, 266 18
1, 219, 768
3, 490, 534 53
1, 222, 222
2,991,121 54
1, .100, 802
2,'865, 481 17
1, 034,
2, 327, 948 37i
852,170
3i 152, 032 70
1, 078, 513
2,629, 975 971
4,985,473
* F o r t h e half
$1, 083, 971 61
4, 672, 664 38
511,451 01
'750,350 74
1,378,920 66
801, 847 58
1, 259, 422 62
1,139, 524 94
1,039,391 68
1, 337, 613 22
1,114,763 45|
1,462, 929 40
1, 842, 635 76
2.191, 009 43
3, 768, 598 75,
2,890,137 01
1, 697, 897 51
1, 423, 285 61
1, 215. 803 79
1,101,144 98
1,367,291 40
1, 683, 088 21
1,729,435 61
2, 208, 029 70
2, 898, 870 47
2,989,741 17,
3, 518, 936 76
3, 835, 839 51;
3,067,211 411
2,592,021 94
2, 223,121 54
1.967,996 24
2,022,093 99
7,155, 308 81
2. 748, 544 89
2, 600,177 79
2, 713, 476 58
3, 676, 052 64
3, 082, 234 65
3,237,416 04
3,064,646 10
4, 577,141 45
5, 716, 245 .93
4, 404, 728 95
4, 229, 698 53
5, 393, 279 72
9, 893, 370 27
7,160, 664 76|
5, 725, 990 89
5, 995, 308 96,
6,490, 881 45|
6, 775, 624 61,
3,202,713 00
5, 645,183 86
5, 911, 760 98,
6.711,283 89
6, 885, 608 35[
5,650,851 25i
12, 885, 334 24
16, 043, 763 36
17, 888. 992 18
17, 504,171 45
17, 463, 068 01
26, 67E, 144 68!
24, :90, 425 43
31, 794, 038 87
28, 565, 498 77
26,400,016 42
23, 797. 544 40
27, 977, 978 30
23. 327, 287 69
21, 385, 862 59
23,198, 382 37
27, 572, 216 87
y e a r from J a n
i
REPORT OF T H E SECRETARY OF T H E TREASURY.
XCV
1789, to June 30, 1886, hy cal. years to 1843 ayid hy fiscal years {ended June 30) from that time'
Netordinary ex- Premiums.
penditures.
$1, 919, 589 52
Interest.
Public debt.
Gross expenditures.
Balance in
Treasury at
the end' of
the year.
984 23
$3, 797,436 78! $973, 905 75
$1,177, 863 03
8, 962, 920 00
5, 896, 258 47
693, 050 25
783, 444 51
2, 373,611 28
6,479, 977 97
2, 633,048 07
753,661 69
1, 749, 070 73
2, 097,859 17
9,041,593 17 1,151,924 17
2,743, 771 13
2, 752, 523 04
3,5^^5,299 00
2, 841,639 37
2,947,°059 06
10,151, 240 15
516, 442 61
4, 362, .541 72
2, 577,126 01
8, 367, 776 84 888, 995 42
3, 239,347 68
2, 551, 303 15
2, 617, 250 12
8, 625, 877 37 1,021,899 04
3,172, 516 73
2,836,110 52
8, 583, 618 41
2, 955,875 90
976, 032 09
617,451 43
4, 651, 710 42
11, 002, 396 97 2,161, 867 77
2, 815, 651 41
1, 706,578 84
6,480,166 72
563
11
601
04
3,402.
1,138,
11,
9.52,
534
12
7, 411, 369 97
2, 623, 311 99
4, 411,830 06
2, 879,876 98
12, 273, 376 94 3, 295, 391 00
4, 981, 669 90
4. 239,172 16
5, 294,235 24
13, 270, 487 31 5,020, 697 64
3, 767, 079 91
3, 949,462 36
11, 258, 983 67 4, 825, 811 60
3, 306,697 07
4, 002, 824 24
4,185, 048 74
12,615,113 72 4, 037, 005 26
3, 977,206 07
4. 452, 858 91
13, 598, 309 47 3, 999, 388 99
2, 657,114 22
4, 583,960 63
6, 357, 234 62
15,021,196 26 4, 538,123 80
3, 368, 968 26
5, 572,018 64
6, 080, 209 36
11, 292, 292 9.0 9, 643, 850 07
3, 369,578 48
2, 938, 141 62
4, 984, 572 89
2, 557,OH 23
16, 762, 702 04 9, 941, 809 96
7,701, 288 96
6, 504, 338 85
2, 866,074 90
13,867,226 30 3, 848, 056 78
3, 586,479 26
7,414,672 14
3.163, 671 09
13. 309, 994 49 2, 672, 276 57
4, 835,241 12
5, 311, 082 28
13, 592, 604
2, 585,435 57
5; 414,584 43
3, 502, 305 80
5, 592, 604 86
22,279,121 15 3; 862, 217 41
2,451, 272 57
1, 998,349 88
17, 829, 498 70
39,190, 520 36 5,196, 542 00
3, 599,455 22
7, 508,668 22
28, 082, 396 92
4, 593,239 04
3, 307,304 90
38, 028, 230 32 1, 727, 848 63
30,127, 686 38
5, 990,090 24
39, 582, 493 35 13,106, 592 88
6, 638,832 II
26,953,571 00
7, 822,923 34
48, 244, 495 51 22, 033, 519 19
17, 048, 139 59
23, 373,432 58
282 55
753
57
4,
536,
20,
886,
40,
877,646 04 14, 989,465 48
15,454, 609 92
6, 209,954 03
15. 086,247 59
35,104, 875 40 1, 478, 526 7 4
13, 808, 673 78
730 56
195
73
%
211,
24,
004,199 73 2, 079, 992 38
2,
492,
16,300, 273 44
5,151.004 32
3,477, i89 96
21, 763. 024 85 1,198, 461 21
13,134, 530 57
073 79
5,126,
019
83
19,
090, 572 69 1, 681, 592 24 •
3, 241,
10, 723. 479 07
5,172,788
17,676, 592 63 4, 237, 427 55
2, 676,160 33
9, 827, 643 51
4,
922,
541
01
15,314,171
00 9, 463, 922 81
475 40
607,
9, 784,154 59
4, 94'r^,557 93 11, 624,835 83
31, 898, 538 47 1, 946, 597 13
15,330,144 71
4,
366,
587
38
757 40
23, 585, 804 72 5, 201, 650 43
7,728,
' 11, 490,450 90
3, 975,542 95
24,103, 398 46 6, 358, 686 18
7, 065,539 24
13, 062, 316 27
3, 486,071 51
6, 517,596 88
22, 656, 764 04 6, 668, 286 10
12, 653, 095 65
3, 098,800 60
9, 064,63? 47
35, 459, 479 52 5, 972,435 81
13, 296, 041 45
2, 542,843 23
9, 860,304 77
25, 044, 358 40 5,755, 704 79
12,641,210 40
1,912, 574 93
9,443, 173 29
24,585,281 55 6, 014, 539 75
13, 229, 533 33
1, 373,748 74
30, 038, 446 12 4, 502, 914 45
14, 800, 629
13, 864, 067 90
34, 356, 698 OG 2, Oil, 777 55
772, 561 50
17, 067,747 79|
16, 516, 388 77
303, 796 87
1, 239,746 51
24, 257, 298 49 11, 702, 905 31
22,713, 755 11
152
98
202,
412
21
24, 601, 982 44 8, 892, 858 42
5,
974,
18,425. 417 25
863
328 20|
17, 573,141 56 26, 749. 803 96
17, 514, 950 28
30, 868,164 04 46, 708,436 00
30, 868,164 04
37, 265, 037 15 37, 327, 252 69
21, 822 91j
37, 243, 214 24
39,455,
438 35 36, 891,196 94
14,990
48
5,
590,
723
33, 849, 718 08
37, 614, 936 15 33.157, 503 68
399, 833 '89 10, 718, 153 53
26,496,948 73
28,
226,
533 81 29, 963,163 48
174,598 08
3, 912,015 62
24,139, 920 11
31,797,530 03 28,685,111 08
-^ 284, 977 5r
5, 315,712 19
26,196, 840 29
773, 549 85
7, 801, 990 09
32, 936, 876 53 30, 521, 979 44
24, 361, 336 59
12,118,105 15 39,186; 284 74
523, 583 91
338, 012 64
11,256,508 60
33,642,010 85 36, 742, 829 62
1, 833, 452 13 11,158, 450 71
20, 650,108 01
30,490, 408 71 36,194, 274 81
1, 040, 458 18
7, 536,349 49
21. 895. 369 61 $18, 231 43|
27, 632, 282 90 38, 201. 959 65
842, 723 27
371, 100 04
26, 418, 459 59
60,520,851 74 33, 079, 27fe 43
1,119, 214 72
5, 600,067 65
53, 801, 569 3"
60, 655,143 19 29, 416, 612 45
2, 390, 765 88 13, 036, 922 54
45,227,454 77
56, 386, 422 74 32, 827, 082' 69
3, 565, 535 78 12, 804,4
82. 865 811
39,933,542 61
44,604,713 26 35, 871, 753 31
3, 782, 393 03
3, 656,335 14|
37, 165, 990 09
48,476,104 31 40.158, 353 25
3,696, 760 75
654, 912 71
69, 713 191
44, 054,717 66
46,712,608 83 43, 338, 860 02
4, 000, 297 80
2,152, 293 05!
40, 389, 954 56 170,063 421
54,577,061 74 50,261,901 09
3,
q65,
832
74
574,01
6.412,
420,498 64
44, 078,156 35
7.5, 473,170 75 48, 591, 073 41
3,070,-926 69
17, 556,896 95
51,967,528 ^ 2,877,818 "
66,164,775 96 47, 777, 672 18
2, 314,464 99
6, 602,065 86
872, 047 391
56,316,197 72
72, 726, 341 57 49,108,229 80
1, 953, 822 37
3, 614,618 66
66, 772, 527 64 385, 372 90^
71,274,587 37 46. 802, 855 00
1, 593, 265 23
3, 276,606 05
363, 572 39
66,041,143 70
82, 062,186 74 35,113, 334 22
574,443 08 ' 1, 652, 055 67 7, 505,250 82
72,330.^-37 17
2,637, 649 70 14, 68.5,043 15
83, 678, 642 92 33,193, 248 60
66, 355, 950 07
77, 05.5,125 65 32, 979, 530 78
3,144,120 94
13, 854, 250 00
60, 056, 754 "
85,387,313 08 30, 963, 857 83
4, 034,157 30
18, 737,100 00
62. 616, 055 78]
13,190, 344 84 96, 097,322 09
565, 667, 563 74 46, 965, 304 87
456, 379. 896 81
24, 729, 700 62 181, 081,635 07
899, 815, 911 25 36, 523, 046 13
694, 004, 575 56|
53,685,421 ' 430, 572, 014 03 1,205,541,114 ' - 134, 433, 738 44
811,283,676 14
uary 1 to June 30,1843.
XCVI
REFORT OF T H E SECRETARY OF THE TREASURY.
TABIIE
Year.
^ . — S T A T E M E N T of'the.EXPENBITUBES of the U : N I T E D
"War.
Indians.
Pensions.
Miscellaneous.
$42,989,383 10
$1, 030, 690, 400 06 $122, 617, 434 07 $5, 059, 360 71 $16,347,621 34
43, 285, 662 00 3, 295, 729 32 15, 605, 549 88 40,613,114 17
283,154, 676, 06
1865
1866.'
3, 568, 638, 312 28
*3, 621, 780 07
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877.;
1878
1879
1880
1881
1882
1883
1884
1885
1886
Navy.
. .
.-
Total
717, 551. 816 39103, 369, 211 42 119, 607, 656 01
*53, 286 61
*77, 992 17
*9, 737 87
3, 572, 260, 092 35 717, 629. 808 56 103,422,498 03
95, 224, 415 63 31,034,01104
4,642.531 77
123, 246, 648 62 25, 775, 502 72 4, 100, 682 32
78, 501, 990 61 20, 000, 757 97 7, 042, 923 06
57, 65.5, 675 40 21,780, 229 87
3, 407, 938 15
35, 799, 991 82 19, 431, 027 21 7, 426, 997 44
35, 372,157 20
21, 249, 809 99 7, 061,728 82
46,323,138 31
7, 951, 704 88
23, 526, 256 79
42, 313. 927 22 30, 932, 587 42 6, 692,462 09
21,497,626^27
41,120,645 98
8, 384, 656 82
38, 070, 888 64 18, 963, 309 82 5, 966, 558 17
37, 082, 735 90 14, 959, 935 36
.5, 277, 007 22
32,154,147 85
17, 365, 301 37 4, 629, 280 28
40,425,660 73
15,125,126 84
5, 206,109 08
38,116,916 22
13, 536, 984 74 5, 945,457 09
40,466,460 55
15,686,671 66
6,514,161 09
43, 570, 494 19
15, 032, 046 26 9, 736, 747 40
48,911,382 93
15,283,437 17
7,382,590 34
39,429, 603 36
17, 292, 601 44 6, 475, 999 29
42, 670, 578 47
16, 021, 079 67 6, 552, 494 63
34, 324,152 74
13, 907, 887 74 6, 099,158 17
643,604,5.54 33
••^718,769 52
644, 323. 323 85
119,617,393 88
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
60, 984, 7.57 42
28, 533, 402 76
29, 359, 426 86 73, 328,110 06
85.141,593 61
29, 038,414 66
29, 456, 216 22 71. 070, 702 98
28, 257, 895 69 73,509,661 04
27, 963, 752 27 58, 926. 532 53
53,177, 703 57
27,137, 019 08
65,741,555 49
35,121,482 39
56,777, 174 44
54, 713, 529 76
50, 059, 279 62 64, 416, 324 71
61,345,193 95
57, 219, 750 98
66,012,573 64
68, 678. 022 21
55, 429, 228 06 70,920,43.5 VO
56,102, 267 49
87,494, 258 38
63, 404, 864 03 74,166, 929 85
4, 563, 041, 704 721,106, 031, 999 91 229, 899, 686 14 899, 594, 742 361, 938, 216, 720 85
* Outstanding
IfOTE.—This statiement is made from warrants paid by the Treasurer up to June 30, 1866. The
i
REPORT OF T H E SECRETARY OF T H E TREASURY.
XCVII
STATES FBOM March 4,1789, to June 30, 1886, cfc—Continued.
Year. Net ordinary expenditures.
1865
1866
Premiums.
Public debt.
Gross expenditures.
Balance in
Treasury at
the end of
the year:
$1, 217, 704,199 28$1,717, 900 11 $77, 395, 090 30 $609, 616,141 68$1,906,433, 331 37$33, 933, 657 89
385, 954, 731 43 58. 476 51 133, 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
*4, 481.566 24
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
Interest.
502, 689, 519 272, 374, 677,103 12 8, 037, 749,176 38
*2, 888 48
*100 31 . *4, 484, 555 03M 48l,'5.55 03
5,157, 253,116 67 7,611,003 56 502, 692, 407 752,374,677,203 43 8, 042, 233,731 41160, 817, 099 73
735,536,980 11 1, 093, 079, 655 27
202, 947, 733 87
10, 813, 349 38 143,781,591 91
198, 076, 537 09
229, 915, 088 117. 001,151 04 140, 424, 045 71 692. 549, 685 881, 069, 889, 970 74
158, 936, 082 87
190,496, 354 95 1, 674, 680 05 130, 694, 242' 80 261, 912, 718 31 584, 777, 99(3 11
183, 781, 985 76
164, 421, 507 15
15, 996, 555 60 129, 235, 498 00 393, 254, 282 13 702, 907, 842 88
177, 604,116 51
157, 583, 827 f 89, 016, 794 74 125, 576, 565 93 399, 503, 670 65 691,680,858 90 138, 019,122 15
153,201.856 19 6, 958, 266 76 117, 357, 839 72 405, 007, 307 54 682, 525, 270 .21
134, 666, 001 85
180, 488, 636 905,105,919 99 104, 750, 688 44 233, 699, 352 58 524, 044, 597 91
159, 293, 673 41
422,065,060 23
724, 698, 933 99
194,118, 985 00 1, 395, 073 55 107,119,815 21
178, 833, 339 54
171,529,848-27
103, 093, 544 57 407, 377,492 48 682, 000, 885 32
172,804,061 32
164,857,813 36
100, 243, 271 23 449, 345, 272 80 714, 446, 357 39
149,909,377 21
565, 299, 898 91
144, 209, 963 28
97,124, 511 58 323,965,424 05
214, 887, 645 88
353, 676, 944 90 590, 641,271 70286,591,453 88
134,463,452 15
102,500,874 65
161,619,934 53
105, 327, 949 00 699, 445, 809 16 966. 393, 692 69
386,832,588 65
169. 090, 062 252,795,320 42
95, 757, 575 11 432, 590,280 41 700, 233, 238 19
231, 940, 064 44
165,152, 335 05 425, 865, 222 64
177,142. 897 63 1,061,248 78
82,508,741 18
280, 607, 668 37
271, 646, 299 55 529, 627, 739 12275,450 903 53
186, 904, 232 78
71,077,206 79
590, 083, 829 96 855,491, 967 50374,189,081 98
206, 248, 006 29
59,160,131 25
260, 520,690 50 504, 646, 934 83
189. 547, 865 85
54,578,378 48
424,941,403 07
208, 840, 678 64
51, 386, 256 47 211, 760, 353 43 471, 987,288 54521, 794, 026 26
19"!, 902, 992 53
50, 580,145 97 205, 216,709 36 447, 699, 847 86
526, 848, 755 46
8, 736, 784, 853 98
69,429,363 87 2,474, 971, 281 7510, 288, 987,702 5121 .570.173. 202 n
warrants.
outstanding warrants are then added, and the statement is by warrants i«5t«ed from that date.
ll
XCYIil
TA^LE
REPORT OF THE SECRETARY OF T H E
TREASURY.
^ . — R E C E I P T S and DISBURSEMENTS hy UNITED STATES ASSISTANT TBEASUBEBS during thefiscal year ended June 30, 1886.
BALTIMORE.
Balance Juue 30, 1885
$13,794,080 00
RECEIPTS.
On account of customs
On acci^uut of internal revenue
On ficcount of semi-annual duty
On accouut of redemption
On account of certificates, act June 8, 1872
On account of Post-Office IDepartment
:
On acconnt of transfers
:
On account of patent fees
On account of disbursing of&cers
On account of the Secretary of the Treasury
On account of miscellaneous
'.....
,.
^.
,
I
$2, 607, 878- 61
547,151 04
42, 349 16
1, 902, 425 00
7, 400, 000 00
276, 999 01
6, 8i3, 048 75
783 00
3, 287,184 04
2, 358 50
163, 788 01
23, 073, 965 12
36, 868, 045 15
DISBURSEMENTS.
On account
On account
On account
On account
On account
On account
On account
of Treasury drafts
of Post-Office drafts
of disbursing officers
of redemption
of interest •
„
:
of transfers
of certificates of deposit, act June 8, 1872
...
3. 447, 473 38
382,464 60
3, 010,495 39
1, 918, 925 00
563,799 -22
5, 801,440 03
10, 28.5, 000 00
Balance June 30, 1886
25, 409, 598 62
11,458,446 53
BOSTOIT.
Balance June 30, 1885
I
$22,874,751 41
RECEIPTS.
On account of customs...,
On account of certificates, act June 8, 1872
On account of Post-Office Department
On account of transfers
On account of patent fees
On account of disbursingofficers
On aecount of semi-annual duty
On account ofthe Secretary ofthe Treasury
Ou account of redemption
On account of miscellaneous
$22,738.796 30
5,890, 000 00
1,972,793 40
5,578,198 50
6,422 40
38,224,357 60
423,316 97
16,146 53
2,744,498 88
4,208,483 53
^
81, 803,014 11
104, 677,765 52
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-OMcedrafts
,
On account of disbursing officers
On account of the Secretary of the Treasuiy
On accountof interest
On account of exchange of standard silver dollars
On account of transfers :
On account of certificates of deposit, act June 8, 1872
On account of fractional currency (fractional silver and minor coins) redeemed
On account of United States notes redeemed
On account of miscellaneous
Balance June 30, 1886
,
13,225,384 25
1,724,378 75
36,879,461 69
8, 782 25
5,488,163 87
1, 661, 556 00
17,799,175 80
6, 610,000 00
803,210 03
293, 400 00
3,762 97
84,497,275 61
20,180,489 91
i
REPORT OF THE SECRETARY OF THE TREASURY.
XCIX
TAllIiS3 ^.—BECEIPTS and DISBUBSEMENTS, ./c—Continued.
CHICAGO.
Balance June 30, 1885
$16,186,789 63
RECEIPTS.
On account of customs
On account of internal revenue
:
On account of salesof public lands
On account of Post-Office Department
On account of transfers:
Treasurer's
Standard dollars
On account of patent fees
On accountof disbursingofficers
,
On account of semi-auntial duty
On account of the Secretary o^ the Treasury.
On. accountof repavments
Onaccountof rede'mption
On account of miscellaneous
=
-..
$4,845,143 63
1, 723,724 02
60,233 42
5,195,342 59
22,016,124 38
1,816,830 00
6,101 85
oo 10,371,501 36
-=
35, 546 93
=
3, -550 63
615,537 76
2,372,532 00
34, 540 47
49, 096, 709 04
65, 283, 498 57
DISBURSEMENTS.
On account of Treasury drafts
°.
On accountof Post-Office drafts
»
On account of disbuising officers
On account of Secretary of the Treasury
On account of interest . ..
Onaccountof gold certificates..:
On account of silver exchange
On account of transfers
On account of United States notes mutilated
On accoun t of certifi(;ates of deposit, act of J une 8,1872
On account of miscellaneous
13, 219,649 68
4,896,235 17
10, 505,053 21
5, 040 63
742, 655 84
823,840 00
2, 409 532 00
18,875,009 72
3,070,000 00
650 000 00
930 37
..
55,197, 946 62
Balance June 30, 1886
10,085,551 95
0
-
.
CINCINNATI.
Balance J u n e 30, 1885
„„o
$7,176,128 40
RECEIPTS.
On account of customs
Ou account of gold certificates
On account of certificates of deposit, act J u n e 8, 1872
Onaccountof Post-OfficeDepartment
On .account of transfers:
Treasurer's
Standard dollara . . . ,
On account of patent fees.
On account of disbursingofficers
Onaccount of seiui-anuual duty
On accouut of the Secretary of the Treasury
On account of repayments'
Onaccount of redemption.
On account of
raiscellaneous
$1, 343,744 67
835, 000 00
2, 810, 000 00
1,676,287 34
„...
9.520,480 85
818,72876
1, 276 20
1,756,692 50
77, 526 36
6, 607 22
42,104 93
2,482, 370 00
42,478 33
21,413,297 16
28, 589, 425 56
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-Office drafts
On account of disbursing officers
.On account of interest
On accountof gold certificates
On accountof si Wer certificates
On account of transfers
On account of United States notes
rautilated
Onaccountof certificatesof deposit, act J u n e s , 1872
On account of fractional currencv (siiver and minor coins) redeemed..
1,660, 004 30
1, 509,745 31
1, 841,348 26
738,168 99
910,000 00
473,000 00
7,027,329 31
1, 771, 000 00
'2.315,000 00
2,472, 948 00
20,718,544 17
Balance June 30, 1886....
b
.,
...,--...
^
7,870,881 36
REPORT OF T H E SECRETARY OF T H E
TREASURY.
T A K 1 . 1 3 ^ . — B E C E I P T S and DISBUBSEMENTS, #c.—Continued.
N E W ORLEANS.
Balance June 30, 1885
*$16,059,150 40
RECEIPTS.
On account of customs
Ou account of internal revenue
.'
On account of sales of public lands
On account of Post-Office Department
On account of transfers:
,
Treasurer's
Standard dollars
On account of patent fees
On account of disbursing officers
On account of Assay Ofiice.
On account of semi-annual duty
On account of the Secretary of the Treasury
On account of repayments'
On account of redemption
On account of miscellaneous
'.
$1, 640, 963 38
595,007 55
118. 059 71
^815, 664 34
:
•
15,707,104 09
5, 013, 500 00
229 25
2,449,918 32
. 27 00
43, 454 36
2,939 37
136, 571 63
1,468,500 00
246,350 28
28, 238,289 28
44, 297; 439 68
DISBURSEMENTS.
On account of Treasury drafts
.«
On accountof Post-Office drafts
On accouut of disbursing officers
-'.
On account of the Secretary of the Treasury
On account of interest
Ou account of gold certificates
•
On accountof silver certificates
On accountof transfers
On account of United States notes mutilated »
On account of fractional currency (silver and minor coins) redeemed..
2,201,789 93
834,511 78
2, 632, 849 87
1, 297 63
253,434 86
3, 844, 600 00
1,483,500.00
23,382,920 76
2,553,620 95
5,000 00
37,193, 525 78
Balance. J u n e 30.1886
1
7,103, 913 90
N E W YORK.
Balance June «80. 1885
1
.-...
175,979,981 68
RECEIPTS.
On acount of customs
.'
On accountof internal revenue.".
On account of certificates of deposit, act June 8, 1872
On account of Post-Office Department
On account of transfers:
Treasurer's
Standard dollars.
;
On account of patent fees
„
On accountof disbursingofficers
On a,c CO unt of Assay Office:
Bullion
'.
•
Ordinary expenses
On account of semi-annual duty
On account of the Secretary of the Treasury
On account of interest -.:!
On account of rederaption and exchange
On account of miscellaneous
137, 256, 926 56
118,986 25
18,450,000 00
11,889,235 94
123,273,803
6,950,210
3, 684
222,807,857
,
03
00
20
89
32,425,754 99
171,150 00
314, 797 78
139,180 15
38,558,892 67
27, 842, 089 24
3, 973, 532 33
^ 624, 236,101 03
800, 216, 082 71
PAFMENTS.
On account of Treasury drafts
On accountof Post-Office drafts
On account of disbursing officers
On account of Assay Office:
Bullion
Ordinary expenses
On account "of interest
On account of gold certificates
:
On account of silver certificates
Onaccountof United States notes mutilated
On account of fractioual currency (silver and minor coins) redeemed..
On aocount of certificates of deposit, act June 8, 1872
On account of transfers
On account of redemption and exchange
222,810,499 32
12,093,032 79
116, 583, 076 77
11, 703, 392 68
170,514 91
38, 559, 582 67
4,161, 760 00
1, 799, 000 00
20,621,947 00
3, 618 00
21, 315, 000 00
108, 451, 261 26
29, 374, 496 31
587,647,18171
Balance June 30, 1886
'
212. 568, 901 00
^Included in this balance are $15,000 of silver coin, which were omitted from the report for the fiscal
year 1885.
4
REPORT OF THE SECRETARY OF THE TREASURY.
CI
T A I S I ^ E ^ . — B E C E I P T S and DISBUESEMENTS, cfc—Coutinued.
PHILADELPHIA.
Balance June 30, 1885
•.
$28,272,997 94
RECEIPTS.
On account of customs
On account of redemption and exchange
On accouftt of semi-annual duty
On account of certificates, act June 8, 1872
On account of Post-Office Department
Onaccountof transfers.
'
On account of patent fees
On account of disbursing officers
On account of miscellaneous
$14,479, 603 62
3,176, 621 72
127,223 00
12,150,000 00
2, 513, 735 74
12,59.3,290 26
2, 807 25
18,089,215 20
679,457 32
-^
,
63,811,954 11
92, 084,952 05
DISBURSEMENTS.
On
On
On
On
Qn
On
On
account
account
account
account
account
account
account
of Treasury drafts
of Post-Otfice drafts
of disbursing accounts
of redemption aud exchange
of interest in curreucy
of transfers
of certificates of deposit, act June 8, 1872
8,764,870 43
2,356, 623 77
17,267, 691 78
3,139, 353 72
2, 969, 973 49
18,089,346 90
16,900, 000 00
.
v
69,487,860 09
Balance June 30, 1886
22, 597,091 96
SAINT L'OUIS.
Balance June 30, 1885
.,
22,116, 032 99
RECEIPTS.
' n account of customs
1,492,155 54
8n account of internal revenue
On account of sales of public lands
On account of certificates of deposit, act June 8, 1872
Onaccount of Post-Office Department
On account of transfers:
Treasurer's
Standard dollars
On account of patent fees
On account of disbursing officers
On account of Assay Office:
Ordinary expenses
Bullion'
-•
On account of semi-annual duty
On account of the Secretary of the Treasury
On account of repayraents
On account of miscelianieous.....
507 55
52, 282 46
250,000 00
1,764,895 67
23,419,190 II
1,053,500 00
2, 425 95
9, 564, 945 14
5,400 00
75,000 00
16,237 60
363 31
181, 645 25
54,721 26
37, 933, 269 84
60. 050, 202 83
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-Office drafts
On account of disbursing accounts
On account of Assay Office:
Ordinary expenses
Bullion
'.
On account of interest
On account of gold certificates
«
•«
On account of ailver certificates
On account of transfers
...
On account of United States notes mutilated
On account of certificates of deposit, act J une 8, 1872
On account of fractional currency (silver and minor coins) redeemed..
8, 693, 659 89
1,742,972 52
9, 556, 366 39
5,309 75
116,939.53
438, 705 65
391,000 00
41, 000 00
16, 212,'460 93
186, 000 00
470, 000 00
2, 095 00
37, 856, 509 66
Balance June 30, 1886
ll
22,193,693 17
CII
REPORT OF T H E SECRETARY OP T H E TREASURY.
T A ^ £ . S ] ^ o — B E C E I P T S and DISBUBSEMENTS, #c.—Continue'cl.
SANFRANCISCO.
Balance June 30, 1885
$85, 303, 697 01
RECEIPTS.
Ou account of cnstoms
On account of internal revenue
On account of sales of public lands
Onaccountof Post-OfficeDepartment
On account of transfers:
Treasurer's
Standard dollars
On account of patent foes
On account of disbursiug officers
Onaccountof repayments
Onaccountof miscellaneous
^
$6, 372, 873 00
2,102, .074 25
004, 688 09
930,756 79 •
1, 080, 950 25
2,812, 500 00
.17,144 00
17, 753, 431 50
349,060 22
620,001 89
:
,
32,643,479 99
117, 947,177 00
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-Office drafts
On accomat of disbursiug accounts
On account of iuterest
On account of transfers..".
—.
9,159,754 15
1, 021, 064 11
16,431, 397 35
381,190 45
34, 679, 692 00
Balance J u n e 30,1886
61,673,098 06
56, 274, 078 94
RECAPITULATION.
Total disbursements
Total receipts
Disbursements over receipts
:
$979, 681, 549 32
962,250,079 64
,oo,.o.,„...
17,431,460 64
d
-STATEMENT 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
SECBETABY of the TBEASURY from Novemher 1, 1885, to October ;U, 1886, inclusive.
Description. .
R e c e i v e d for
R e c e i v e d for
exchange
a n d t r a n s f e r . r.edemption.
Issued.
Total.
Q..
L o a n of F e b r u a r y , 1861, a c t of F e b r u a r y 8, 1861
O r e g o n w a r d e b t , a c t of M a r c h 2, 1861
L o a n of J u l v a n d A u g u s t , 1861. a c t s of J u l y 17 a u d A u g u s t .5, 1861
F i v e - t w e n t y b o n d s o f a 8 6 2 , a c t of F e b r u a r y 25, 1862
B o n d s i s s u e d t o Pacific r a i l r o a d s , a c t s of J u l y 1, 1862, a n d J u l y 2, 1864 .
• L o a n of 1863 (ISSl's), a c t o f M a r c h 3, 1863 . . ;
Gold certificates, a c t of M a r c h 3, 1803
T e n - f o r t y bond.s of 1864, a c t of M a r c h 3, 1864
S e v e n - t h i r t y n o t e s of 1864-'(].5, a c t s of J u n e 30, 1864, a n d M a r c h 3, 1865..
F i v e - t w e n t y b o n d s of J u n e , 18G4, a c t of J u n o 30, 1864
Five-tViienty b i i u d s of 1S65, a c t o f M a r c h 3, 1865
Consols of 1865. a c t of M a r c h B. 1865
C o n s o l s of 1867, a c t of M a r c h 3, 1F65
Consols of 1868. a c t of March. 3. 1805
F u n d e d l o a n of 1881, a c t s of J u l y 14, 1870. a u d J a n u a r y 20, 1871
F u n d e d loan of 1891, a c t s of J u l y 14, 1870, a n d J a n u a r y 20, 1871
F u n d e d l o a n of 1907, a c t s of J uly 14, 1870, a n d J a n u a r y 20, 1871
C e r t i f i c a t e s of d e p o s i t , a c t of J u n e 8. 1872
'
3 | p e r c e n t , bontls. a c t s of J u l y 17 a n d A u g u s t 5, 1861
3^ p e r c e u t . b o n d s , a c t of M a r c h 3, 1863
Z\ p e r c e n t , b o n d s , a c t s of J u l y 14. 1870, a n d J a n u a r y 20, 1871
3 p e r c e n t , b o n d s , a c t of J u l y 12, 1882
:•
Total.
$2, 000
100
30, 700
63,150
$3, 963, 000
$3, 963, 000
13, 500
146, 620
8, 500
1,550
4,300
8,300
22, 750
47, 250
11, 450
44. 000
46, 507, 350
117,988, 550
17, 979, 600
55, 650, 000
60, 350
12, 600
82, 250
98. 340,450
186,438,500
154, 549, 820
46, 507, 350
118, 024, 600
44, 255, 000
17, 979, 600
230, 729, 550
$2, 000
100
30, 700
63,150
7,926,000
13, 500
146, 620
8,500
1,550
4,300
8,300
22. 750 .
47, 250
11, 4:50
44, 000
93, 014, 700
236.013,150
99, 90.5, OGO
60, 350
12, 600
82,250
134, 299. 050
571, 717,870
H
O
Ul
a
H
t>
O
W
H
oc
T A i 5 I . l ^ ^ . — S T A T E M E N T of D I S T I N C T I V E P A P E B - S I L K - T H B E A D E D FIBEB—issued from tlie OFFICE of the SECBETABY of the
TBEASUBY to the B U B E A U of E N G B A V I N G and P B I N T I N G , and D E L I V E B I E S and BALANCES of the same, for NATIONAL-BANK
CUBBENCY, S E B I E S 1882, forfiscal year 1886.
a
i^
Denomination.
Combinations.
Transactions.
N u m b e r of
sheets.
Amount.
5'8.
B A L A N C E S . — B a l a n c e s i n 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 , J u n e 30, 1885.
Total balances
5,5, 5, 5
10,10,10, 20
50,100
5, 5, 5, 5
10,10,10, 20
50,100
T o t a l t o b e a c c o u n t e d for
P E R F E C T N O T E S . — D e l i v e r e d b:y 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 t o t h e Office of t h e C o m p t r o l l e r of t h e C u r r e n c y for i s s u e , d u r i u g fiscal y e a r 1886.
5, 5, 5, 5
10,10,10, 20
50,100
T o t a l d e l i v e r e d (perfect)
6, 857, 460
1,148,400
642, 250
25, 000
22, 968, 000
1, 815, 650
651, 254
22, 968, 000
.6, 857, 460
2,466, 904
29, 825, 460
1,180, 266
744, 940
36,176i
23, 605, 320
5, 5, 5, 5
10,10,10, 20
50,100
T o t a l delivered (imperfect)
73, 805
41, 571
2,463
.
B A L A N C E S . — B a l a n c e s ih B u r e a u E n g r a v i n g a n d P r i n t i n g ,
J u n e 30, 1886.
Total balances
T o t a l a c c o u n t e d for
651, 254
5, 5, 5, 5
10,10,10, 20
50,100
,
'.
117,839
'
20's.
$8, 243, 010
$5,495, 340
8, 243, 010
5,495, 340
50's.
lOO's.
.$3, 361, 400
$6, 722, 800
3, 361, 400
6, 722. 800
30, 680,- 010
23,605,320
12, 845, 000
2, 500, 000
5, 000, 000
19, 267, 500
8, 243, 010
12, 845, 000
5,495, 340
2, 500, 000
3, 361, 400
5, 000, 000
6, 722, 800
62, 580, 500
30, 680, 010
o
27,510,510
18, 340, 340
5; 861,400
11, 722, 800
93, 260, 510
H
7, 235, 300
23, 605, 320
37, 247, 000
10 852 950
j
1
14,898, 800
22, 348, 200
14, 898, 800
1, 247,130
831, 420
3, 617, 650
.
7, 235, 300
71 705 270
246, 300
492,600
1, 476,100
2 078 550
738,' 900
246, 300
492,600
4, 293, 550
1,997,450
3, 994, 900
4,-744, 040
6 .52.5'300
5, 992, 350
1, 476,100
1,476,100
O
H
O
19,267, 500
3, 617, 650
•
$6, 857, 460
13,738,350
10, 084, 200
22, 968, 000
32, 112 500
7, 500, 000
22, 348, 200
1, 961, 382i
I M P E R F E C T N O T E S . — D e l i v e r e d b y 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 to t b e Office of t h e S e c r e t a r y of t h e T r e a s u r y for d e s t r u c t i o n , d u r i n g fiscalyear 1886.
$6,857,460
.•.
B L A N K P A P E R . — D e l i v e r e d t o 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 from t h e Office of t h e S e c r e t a r y of t h e T r e a s u r y , for p r i n t i n g c i r c u l a t i n g n o t e s , d u r i n g t h e
fiscal
y e a r 1886.
Total blank paper . . .
B a l a n c e s 1885 b r o u g h t d o w n
Deliveries to Comptroller b r o u g h t down
D e l i v e r i e s t o S e c r e t a r y ' s Office b r o u g h t d o w n
B a l a n c e s on h a n d J u n e 30, 1886
342,873
274, 767
33, 614
lO'B.
1, 247,130
831,420
3, 915,180
2, 610,120
237, 202
^ 130,500
19, Q^^
4, 744, 040
387, 682^
4, 744, 040
3, 915,180
2,610,120
1, 997, 450
3,994,900
17, 261, 690
1, 961, 382^
117, 839"
387, 682i
23, 005, 320
1, 476,100
4, 744, 040
- 22,348,200
1, 247,130
3, 91.5,180
14, 898, 800
831, 420
2, 610,120
3, 617, 650
246, 300
1, 997, 450
7, 235, 300
492, 600
3, 994, 900
71,705,270
4, 293, 5.50
17 261 COC
2,466, 904
29, 825, 460
27, 510, 510
18, 340, 340
5,861,400
11,722.800
93, 260; 510
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T A B I . E T . — S T A T E M E N T of B E D E E M E D UNITED STATES S E C U B I T I E S B E C E I V E D hy the O F F I C E of the SECBETABY of the
TBEASUBY for FINAL COUNT, EXAMINATION, and DESTBUCTION, during thefiscal year ended June 30, 1886.
Denominations,
T i t l e of s e c u r i t y .
Totals.
I's.
$3, 875
U n i t e d States notes, n e w issue
21,602
U n i t e d S t a t e s n o t e s , s e r i e s 1869
14,392
TJnited State's n o t e s , series 1874
58,185
D n i t e d S t a t e s n o t e s , scries 1875
92, 940
"Dnited S t a t e s n o t e s , s e r i e s 1878
D n i t e d S t a t e s u o t e s , s e r i e s 1880 7,157,143
Dnited States demand notes
O n e - y e a r n o t e s of 1863
T w o - v 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
C o r a 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 c e r t i f i c a t e s s e r i e s 1878
S i l v e r cer(i:ficates s e r i e s 1880
Gold certificates. N e w T o r k ,
s e r i e s 1882
Gold certificates, W a s h i n g t o n ,
s e r i e s 1882
Kefunding certificates
;.
Naiional-'curreucy
n o t e s of
failed a n d l i q u i d a t i n g b a n k s .
National currency redeemed
and retired
5's
2's.
$6, 421
70
29, 883
80
16, 896
00
107, 043
10
92, 592
50
30 6, 837, 862
00
80
80
20
00
80
$76, 370 50
430, 080 50
1,132, 875
],.13l,184
8, 718, 076
145
00
00
00
00
lO's.
20's.
$153,585
1, 874, 865
$178, 244
1,868,918
1,276,261
1,972,092
2, 563, 922
200
140
1,433,704
2, 784,470
902,794
160
740
90
1,010
135, 695
5,142, 045
50's.
$30, 900
287, 440
783, 045
107, 550
742. 015.
217, 650
lOO's.
$73, 800
656, 600
1,078,500
2.713,390
1, 714, 800
500's.
l.OCO's.
$98. 500
37, 500
614,000
74.5, 000
2, 782, 500'
255,500
612,0-JO
4," 635,'(.00 ' '.$40,' 000 "$30,000
3, 376, 000
1,460
203, 614
7, 649,722
250
•1.50
50
100
1,750
155. 595
113; 600
100
800
136, 500
131,200
221, 500
6, 853, 500
8 5,472
797,195
592, 200
782, 000
1, 834, 000
201, 818
28, 650
91, 700
168, 000
2, 008, 000
500
.
1,108, 000
6, 673, 000
630, 000 1. 870, 000
20, 000
35, 250
3, 481,188 00
5, 250, 259
10,000's.
$232, 000
220, 000
$853, 696 20
5, 81H, 890 10
1,428,333 80
5,939,118 .3017,216,213 50
31,743,748 10
505 00
1, 630 00
150 00
50 00
290 00
5,020 00
1, 960, 904 00
26, 563, 067 00
7, 310, 867 00
2, 738,168 00
o
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35, 250 00
12, 596 50
10,456 00
3, 452, 440 1, 245, 000
1, 456, 000
52, 000
47, 000
24, 269 00
19, 715 00 20, 060, 692 00 21, 961,144 15,107.300 4, 560,100
7, 736,700
214,500
21, 000
7, 385, 004 90 7,120, 870 60 35, 230, 611 00 40, 366,558 34, 590, 856 9, 071, 070 16, 382, 790 12, 824, 500 20, 546, 000.
Totals
5,000's.
15, 006, 939 50
O
09, 705, 420 00
690, 000 2,120, 000
W
Denominations.
Eedeemed Dnited States fractional currency.
Dnited
Dnited
United
United
United
TTr»^^p^^
United
States
States
States
States
States
Stntf^
States
fractional
fractional
fractional
fractional
fractional
fr^^irtional
fractional
currency,
currency,
currency,
currency,
curreucy
currcucv
currency,
first i s s u e
second iss
thiTxl issu
f o u r t h issi\Q
f o u r t h issu1ft sf^nmid .«*p,rip.a
. .
f o u r t h isS'if' f.lnrrl sftrir)8
fifth i.ssue
Totals
K e d e e m e d U n i t e d State.s i n t e r n a l - r e ven
5c.
10c.
$6 14
$18 35
35 85
26 13
$20
25
126
547
_
'
-
A p-crreff'ite of r e d e e m e d U'lH"'*^*! ?it;iti-s i-e c u r i t i e s recei ved for d e s t r u c t i o n
3c.
15c.
11
85
64
04
$133 14
1, 099 20
6 14
80 33
1, 818 84
133 14
25c.
$18
19
285
1,199
50c.
95
75
12
82
2,399 62
$29
27
462
143
1, 031
760
1, 670
70
65
45
95
40
8.^'
70
3, 923 26
4,126 65
a
87
109
906
2 023
7 031
760
5 169
11
10
48
95
40
80
52
1, 000, 6u4 05
187,339,152 91
l>
Ul
d
0
APPENDIX TO THE REPORT ON THE EINANGES.
http://fraser.stlouisfed.org/
^
Federal
Reserve Bank of St. Louis
A.I>P-EIsrDIX.
• APPEJS^DIX A. ,^ -
' .•.;
KECEIPTS AND EXPENDITURES, ACTUAL AND ESTIMATED, FOR' 1887.
,Por the present fiscal year the revenne, actual and estimated^ is as
follows:
' ?
•
'
•
'
Sour
Custonis
.'
Internal revenue.-.
Sales of public lauds
Tax on national banks
,
Repayment of interest and sinking-fund, Pacific
Railway conapanies
.,..:
;
Customs fees, fines, penalties, &c
Fees—consular, letters-patent, aud lands
Proceeds of sales of Government property
Profits on coinage, assays, &'c
Deposits fdr survejniig public lands
Reyenues of the District of Columbia
Miscellaneous sources
-.
Total receipts
Quarter ended
September
• 30, 1886.
Totai.
$59,177,586 50 ^150,822,413 50 ^210,000,000 00
28,930,043 94
87,069,9.56 06 116,000,000' 00
1,827,781 46
4,172,218 54
6,000,000 00
1,252,498 57
1,247,501 43
2,500,000 00
' 516,195.02
232,998 88
814,359 39
48,508 21
582,694 65
34,961 79
287,915 70
1,240,048 46
94,945,592 57
1,483,804 98
2,000,poo 00
767,001 12
1,000,000 00
2,685,640 61 ' 3,500,000 00'.
201.491 79
250,000 00 •4,417i 305 35 ' .5,000,000 00
215,038 21
'250,000 00
1,712,084 30
2,000,000 006,259,951 54
7,500,000 ,00
261,054,407 43
356,Opp; 000 00
The expenditures, actnal and estimated, for the same period are as
follows:
Object.
Civil and miscellaneous expenses; including public
buildings, liglit-hpuses, and collecting tbe revenue
Indians...;
'.
;
Pensions.
-.
.'.
Military Establishment, including fortifications,
• river and harbor improveuaents, and arsenals.—
Naval Establishment, including vessels and ma-,
chinery, and. improvements at navy-yards
Expenditures'on account of the District of Columbia.,
Intereston thepublic debt
Sinking-fund
Judgments of the Court of Alabama Claims.,
Total ordinary expenditures.
Total receipts..
Total expenditures
Estimated surplus.,
Quarter ended Remaining
September
three-fourths
of the j-ear.
30, 1886.
$20,213,300 11 $58,065,623 51 . $78,278,923 62
1,62L,973 62
4,878,026 38
. 6,500,000 00
20,401,137 52 47,598,862 48
68, OGO, 000 00.;
9,726,804 09
' 30,273,195 91
40,000,000-00
4,603,230 59
12,396,769 41
17,000,000 00
1,287,4i5 17
13,210,226 86
31,5SS, 465 00
5,721,076 38
2,212,584 83
33,789,773 14
l6,565, 246 14
3,500,000 GO
47,000,000.00
48,153,711 14
5,721,076 38
205,780,081 80.
314,153,711 14
108,373,629 34
»...
1
|356, 000, 000 00
314,153,711 14
41,846,288 86
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: A P P E N D I X R-' •
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RECEIPTS'AND. EXPENDITURES.
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COMPARISON OF RECEIPTS AND EXPENDITURES FOR 1 8 8 5 , 1886, AND 1 8 8 7 .
Fiscal year
1885.
Fiscal y e a r
A c t u a l for
E s t i m a t e d for T o t a l , a c t u a l
Increase—
Decrease—
quarter ended
remaining
a n d estimated,1886 o v e r .1.885. 1886 u n d e r "1885.
September
three-fourths
for 1887.
. 30, 1886.
of tlie y e a r .
• O
O
R e c e i p t s froma—
Customs taxes
Internal-revenue taxes
N a t i o n a l - b a n k ta'xes
,
Sal.es o f p u b l i c l a n d s
\ Profits on coinage
C u s t o m s fees
C o n s u l a r fees
Pacific r a i h v a y s , interest
Pacific r a i l w a y s , s i n k i n g - f u n d
Surveying public lands
S a l e s of G o v e r n m e n t p r o p e r t y
I m m i g r a n t fund
Soldiers' H o m e , p e r m a n e n t fund
, Sale c o n d e m n e d naval vessels
R e v e n u e s of D i s t r i c t C o l u m b i a
Miscellaneous sources
$1.81,
112,
839 34 $1.92,905, 023 44
725 54 116,805, 936 48
222 25
2,693, 712' 87
986 44
5, 630, 999 -34
284 96
5, 904, 6-19 26
464 27
1,014, 783 58
613 58
3, 383. 570 19
071 58
679, 1.89 43
707 78
1,097, 905 47
514 .34
192, 735 63
882 07
* 268, 390 39
002 50
181, 547 00
735 05
, 245, 436 98
541 .-SO
• 40,3.57 19
298 11
2,105, 8,30 61
816 77
3, 289, 689 20
323,690,706 38
336,439,727 06
$23,826, 942
5,4.39, 609
6,5-52, 494
56,102, 267
.•42,670, 578
16,021, 079
11
11
63
"49
47
67
$21,955, 604
1,,332,,320
6,099,158
63,404,864
34, ,324,152
13,907,887
04
88
17
03
74
74
.54, 728, 0.56
3, 499, 65 !
51, 386. 256
45,604, 0.35
21
95
47
43
47,-986, 683
2,892,321
50,580,145
44,551,043
04
89
97
36
Net increase .
E x p e n d i t u r e s for—
v
Civil e x p e n s e s
Foreign intercourse
Indians...T....;
Pensions
•.
.•
Military Establishment
Naval Establishment.
M i s c e l l a n e o u s , i n c l u d i n g publi<
h o u s e s , &c
D i s t r i c t of C o l u m b i a
Intereston publicdebt
Sinking-fund
.".
...,.!....,.
N e t d e c r e a s e . .
buildings,. light-
,305, 830,970 54
287,034,181 86
$1.1,4.33,184 .1.0
4, .307,21.0 94
107,319 3i
4,544 50
176,532 50
,340,872 43
16,369,663 78
12,749,020 68
$59,177,586 50 $150,822, 413 50 $210,000, COO 00
116,000. OOO 00
'28,930,043-94
87,069, 956 06
$220,509 38
1,2.52,498 57
2, .500,000 00
•1,247, 501 43
6, UOO,060 00.
74, 987 10
1,827,781 46
4,172, 218 .54
146,665,70
• 5,000,'OGO 00
582,694 65
4,417, 3U5 35
1,000,
000 00
2.32,998 88
767, ooi 12
3, 500,000 uo
331,043 ,39
814.359 39
2,685, 640 61
1,000,
oco 00
• 928,882 15
203; .503 45
796, 496 55
1,000, 000 CO.1,378,802 31
312,691 57
687, 308 43
000 00
250,
34,961 79
401,778 71
215, 038 2L
2.50,000 00
48, .508 21
34,49L 68
201, 49L79
200, 000 00
55,7^0 00
144, 280 00.
2.50,OUO 00
88,298 07
33,1.76, 06
216, 823 94
r
.
50,000 00
1.5,184 61
50, 000' 00
-2,'000,000 00 .
287, 915 70
1,712 084 30
7,000,
000 00
1,151,152 40
5,848 847 60
94,945,592 57
261,0,54,407 43
-356,000,000 00
8,346,425 73
2,1.1,3,191 93
$5,142, 680
6,112,219
1,621,973
20,401,137
9,726,804
4,603,2,30
$;8,857,31.9 78
1,287,780 95
4,878,026 38
47,'598,862 48
30,273.195 91
12,396,769 41
'$24,000,000 00
• 7, 400,COO 00
6,500,000 00
68,000,-OOO-OO40,000,000 00
17,000,000 00
6,741,373 17
607,329 06
806,110 ,50
1,052,992 07
14,679,477.22
1,287,41.5 17
13,210, 226 86
31,588, 465 00
26, 099, ,385 22
18,796,788 68
108,373,629 34
3,620,643 10
$1,871,338 07
4,107,288 23
453,336 46
$7,302, 596, 54
7r302,596 54
22
05
62
52
09
59
37,920, ,522 78
2,212,584 83
33,789,773 14
16, 565, 246 14
205,780,081 80
52,600,000 00
^ 3,500,000 00
•47,000,1300'00
48,153,.711 14
314,153,711.14 -•
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REPORT OF THE SECRETARY OF THE TREASURY.
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TAXES ON CONSUMPTION IN THE UNITED' STATES.
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Customs revenue .(
Internal revenue
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-Fiscal y e a r 1885. F i s c a l y e a r 1886.
:...!
'
C u s t o m s r e v e n u e ..!
Internal revenue
••
$181,471,939 34
112,498,725 54
Increase. '
$192,905,023 ,44
• 116,805,936 48
$11,433,084 10
4,307,210 94
Q u a r t e r e n d i n g Q u a r t e r endingS e p t . 30; 1885. ^
S e p t . 30, 1886.
•
'
•.
'f.
$52,203,853 12
28,600,281 '06
Increase.' ,
$59,177,586 50
28,930,043 94
•
$6,97.3,733 38
329 762 88
NOTE.—These figures represent the actual amounts covered into the Treasurvcby warrants based
upon returns of. deposits by collectors of customs and internal revenue. <
( N o , ;5.)-
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THE PUBLIC DEBT—NOVEMBEE, 188.5, AND NOVEMBEB, 1886. /
The indebtedness of the United States on I^ovember 1, 1885/inclnding therein the bonds issued on account of the Pacific Eailroad Companies, was as follows :. .
'
Interest-beariijg debt
i
$1,260, 778,162
Accrued and unpaid'interest to date
,
9,595,948
Matured debt not yet j)resented and accrued
interest
.....'
. 3,953,689
iDebt bearing 'no interest
574, 012, 535
•Total.;.:.
Cash .in Treasury ...:
'..::...]........^...:
'
Amount of debt less cash in Treasury.......
00
10
•>
76
88
1, 848;340, 335 74 '
• 400, 682', 767 65
.
'....
| 1 , 447; 657, 568 09
.The indebtedness of the United States on ISTovember 1, •
1886, inclnding therein the bonds issned to the Pacific - • .
Eailroad Compaiiies, was as follows:
Interest-bearing debt...\'..
.$1,153,443,112 00
Accrued and unpaid interest to date
8, 993, 561 71
Matured debt not yet presented and accrued
. • ..
. interei;5t\..
12,548,927 49
Debt bearing iio in terest...
549,433,862 52
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Cash in Treasury
•
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1,724,419,463 72
.'.....:
..........'
Amount of debt less cash in Treasury
Reduction of debt during above period
370,071,515 86
:
'
1, 354, 347, 947 86
93,309,620 23
6
REPORT OF THE SECRETARY OF -THE TREASURY
ASSETS
AND
,
LIABILITIES OF. THE TREAStJRY—NOYEMBER, 1885,
^
AND NOYEMBER, 1886..
,
-
The assets of the Treasnry on NTovember 1,1885, excluding fractional
coin and other unavailable items, was as follows:
,
. • .
Gold coin and bullion.
Less certificates outstanding
..:t.:
'..-.
Silver coin and bullion...
Less certificates outstanding.
'
*
•
Legal-tendernotes
Less certificates outstanding
'.'....
.'...
$251,359,349
109, 020, 760
r167, 657; 878
93,146, 772
29
00
' -^ .
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• $142, 338, 589 29
45
00
74,511,10.6 45
:....
45,695,341 31
18.145, 000 00
.
27,550,34131,
1,441, 843.27
13, 595, 550 93
•
National-banknotes.....
Deposits in national banks
^
...'
,
.
'
,
'
•
259,437,431 25
The liabilities of the Treasury upon the same date were
as follows:
p
•
• Interest accrued and unpaid, as per debt statement.....
Less interest items paid, held in cash
."
, ^
Matured debt and interest
r
National-bank redemption fand..!.'...,
Disbursing officers'balances
Post-Office Department
Outstanding drafts and checks...>
Legal-tender reserve.....
.' ,
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$9,595,948 10
' 101, 611 86
9,494,336
3, 953, 68Q
48, 055, 654
22,774,534
3,706,081
4,634,843
. 100,000,000
24
76
06
08'
52
21
00
• 192, 619,138 87
Net balance in Treasury
66,818,292 38
The assets of the Treasury on ISTovember 1,1886, excluding fractional
coin and other unavailable items, were as follows :
•' '
Gold coin and bullion...:
Less certificates outstanding.
'
• Silver coin and bullion,....
Less certificates outstanding.
'
,
Legal-tendernotes
^.
• Less certificates outstanding
'
'
National-bank notes...
Depositsin nationalbanks
•
'.
$246,832,148 40
88, 294, 969^ 00
•
^
$158, 537,179
186,739,179 5 2 . ^
100,306,800 00 ^
,
' '
—
•
,
86, 432, 379
•.....:
38,107,305 27
,
<
7,140, 000 00
—
30,967,305
;....:
>
199, 936
16,266,639
.
"
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Matured debt and interest
National-bank redemption fund
Disbursing officers' balances.
'
$8,993,56171
217, .399 40
-
8,776,162
' 12,548,927
85,537,184
22, 639,' 296
52
^
27
00
08
292,403,439'27
The liabilities of the Treasury upon the same date were
as,follow.s: ^ ' .
Interest accrued and-unpaid, as per debt state• ment...'.............
.r
Less amount paid, held in casli.,
:...
40
31
49
91
37 '
,
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.REPORT;
O F THE
SECRETARY
Post-OfficeDepartment.-....,
.,.:..:
Outstanding, drafts and checks
,
Legal-tender rfeserve
:..
.....:..'.....
.
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OF
THE
$4,517,610 53
5, 601, 057 68
100, 000, 000 00
—
r-
• Net balance in Treasury
Decrease of balance w^ithin' the above period.
7^
TREASURY.
..:..................
^'
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,'
'$239,620,239, 29
52, 783,199 98
ik, 035, 092.40
PUBLIC MONEYS.
The monetary transactions, of the Government have been conducted
through the offices of the Treasurer of the United States, Jiine assistant treasurers, and one hundred and seventy-three national-bank depbsi• taries. \
', , .
'
Th^ gross receiiits of t h e Governm-ent, amounting during the fiscal year, as shown by warrants, to the sum of $452,754,577.06,
($116,314,850 of which were on account of loans, United States notes,
certificates, and conversion of refunding certificates,) were deposited
asfollows, viz:
.
.
^
I n the Treasury and sub-treasuries
In national-bank depositories
$330, 65'5, 925 13
122, 098, 651 93'
(No. 4.),
;
. . .
PAYMENTS AND CHANGES IN THE FUNDED DEBT.
Thefollowing table shows the changes in the interest-bearing debt
during the year ended October 31, 1886 :
^
'Title of loan.-
Loan of July 12, 1882
Funded loan-of 1891 ,..;
Funded loan of 1907
Refunding certificates
Navy-pension fund...
Bonds issued to Pacificrailroads
.
Rate of interest.
3 per cent....
43^ per cent..
4 per cent....
4 per cent....
3 per cent.-.
6 per cent....
Outstanding
November 1,
1885.
Incre a s e D e c r e a s e
during
duringthe
the year. year.
$194,190,500
250,000,000
737,740,350
223,800
14,000,000
*$36,050
1,196,154,650
36,050
,
$107,341,800 1 $86,848,700
250,000,000
737 776 400
,
194,500
*29,'300
14,000,000
107,371,100
1,088,819,600
36,050 j 107,^371,100
1', 153,443,112
64,623,512
64,623,512
1,260,778,162
Outstanding
< October 31,
' 1886.,;
*See statement which follows, showing conversions of refunding certificates, for an explanation
of the increase during the year in the interest-bearing debt.
"
i
The reduction in the annual interest charge by reason of the changes
during the year ended October 31, 1886, is as follows :
On bonds redeemed, or vvhich have ceased to bear interes|i.
Deduct the intereston $6,750 4 per cent, bonds issued
Net reduction
,
,$3, 220, 254
270
.'
3,'219, <
8
REPORT OF THE SECRETARY OF THE TREASURY.
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, Siiice ^N'ovember 1,-18^5, refunding certificatesvissued in 1879, under
t h e a c t o f Februaiy. 26, 1879, havebeen presented for coiiYersioh iiito
4 i3er cent, bonds as follows-:.
.,
, ^^
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.'- * :
. Principal
;
.....,.....'....:.
Accrued intereist due thereon.......:;
.
,
Total'..
;.•
'........
.,.:...
,
.'....
......;
:..
;..
:;
l^'or which settlem ent,was made tis follows:
37j 576 5Q ,
-
Four per cent, bonds issued On account of principal..
Four, per cent, bondf^'issued on account of accrued interest,
Interest paid in cash
.....':.......TotaL.L.:..............:.
:...:....:
The certificates still outstanding amount to...
.:...;...
$29,300 00
8, 276 '50
"
,
,.........;
,
'..;..!.
$29, 300 00
6, 750 00
1,526 50 .
-. 37,576 50
194, 500 00
' During the twelve months ended October 31, 1886, United States
3 per cent, bonds were called for redemption to the amount of |127,283,100, of which $102,269,450 matured during that period, and ceased .
to bear interest. In addition, called bonds maturing after October
31, 1886, were redeemed before that date, with interest to dates
of redemption, to the amount of $2,407,500;^ and $2,664,850 bonds,
\which', had not been called, were redeemed under circulars issued by
the department on A.ugust 30, and September 15, 1886, giving to
holders of the 3 per cent, bonds the privilege of surrendering the
saraei at any tinie for redeinption with interest to date of payment'.
The total reduction in the interest-bearing debt during the twelve
months is, therefore, $107,341,800. Of the 3 per cent, bonds-wliich
were called during the twelve months mentioned, but had not matured
on October 31, 1886, $15,008,300 matured JSTovember 1, aiad $10,005,350
December 1, 1886.
. ' .
The redemptions and cancellations of United States bonds and seventhirty notes during the twelve months ended October 31, 1886, were as
follows:
,•
, .
.
Seven-thirty notes of 1864-'65'..!
........'
..:
^ $1,550
Loan of .February 8, 1861.
....:....;....•.....:...,
,
' 2,000
Oregon war debt
r.
..' • 100
Five-twentiesofFebruary 25, 1862.......:
'.....:.....,
' 63,150
Five-twenties of 1865, .(May alud November)
'.
8, 300
Five-twenties'of June30, 1864
4,300
Ten-forties of 1864....
:
:
8,500
Consolsof 1865.
:.....
22,750'
Consols of 1867.
47,250
Consols of 1868.......:..f'
,
.
.11,450 '
Loan of July aiid Augustl861, (6 per cent.)
:
30, 700
Loan of March 3, 1863, (6 percent.)
13,500
Fundedloanof 1881, (5 percent.)
:.:...::.........
44,000
Loan of July and August 1^61, (continued at 3 J per cent.)
60, 350
Loan of March 3, 1863, (continued at 3 | per cent.) ....^
12,600
Funded loan of 1881, (continued at 3J per cent,) :
:
'
82, 250
. REP.;RT OF THE SECRETARY OF THE TREASURY. .
"
v.;
"LOAN ,OF JULY 12, 1882, (3 PER CENT.) - .
Bonds which matured prior to November .1, 1885
Bonds which matured within the year.:..........
.'
Bonds maturing after October 31,1886, paid withinterest
to date of redemption...-..'..
Bonds redeemed under circulars of August 30, and September 15, 1886
...!..
\
:.
.-.
, $941, 450
92,326,650
,
2,407,500
' .
2, 664r850
' T o t a l 3 per cent.' bonds redeemed......
Total redemptions an d cancellations
.'
9.
^ SILVER CERTIFICATES.
.
.
'
$98,340,450
.'...
98, 753, 200
.
'
In pursuance of the provision in the act of August 4, 1886, authorizing the issue of silver "certificates of small denominations, plates have
beeh prepared fbr the one and two dollar certificates, which are now
being printed at the rate of 28,000 sheets, or 112,000 notes a day. The
plates for the five-dollar certificates are in hand, and will soon be finished. Ten-dollar certificates pf a hew design have also been prepared'
and issued. These certificates are printed upon the new distinctive
•paper, the distinctiA^e feature of which is^a blue silk thread embedded
in the paper and running lengthwise of the note. The silk fibre scattered through the paper has been abandoned, as it impaired the quality
of both the paper and the printing.
^
. .;
APPENDIX C.
[From Barbour's "The Theory of Bimetallism."]
INDEX
No.
184550
1865 1866 1867 1868 1869 1870 1871 1872 1873
1857 1858
INDEX
No.
1873
1874
1875
1876
1877
1878
1879
1880
1881 1882
1885
1883 1884
PRICE
OF
SILVER.
•
3600)
—
/
—
*******
3500)
/
/
3400)
/
3300
/
rT>
i
3600
%
\
3500
-
-
3400
\
/
/
3100
3000I
//
A
/
2900I
/
/
2800i
/
2700i
/
/
2600
r/
2500
/
2400
/
/
/
/
/
'
/
\
\
\
/ '
\
/
/
\
/
\
\
v
/
\
/
r/
3200
58
. \
\
3100
* A
\
*/
\
\
\
\
3000
\
\
/
\\
/
/
\
/
\
/
/
/
\ >.
. \
/
/
2900
2800
2700
•
.
/
\
/
57
\
%
\
\ /
V
2600
2400
56
V
\
V
\
V
55
1
1
\
1
\
\
V
\
-
54
V
V
\\
1
\
—
53
\
\
2500
1
\
\
I
\V
\
2300
2200
2200
•
2100
2100
2000
2000
This diagram shows the course of English prices, according to the Index Nos. of the Economist, and also of the gold price of silver,
1845-50* to 1873.
The line
represents the prices of silver and the line
the Index Nos.
It will be observed:—
(1) That thefluctuationsin the price of silver were comparatively trifling.
/ \
\
/
\
\\
52
A
*
\\
\\
f
\
\
\
/
\
\
/
2300
59
\
•
/
___ /... /
60
3300
/ '
/
61
v . ,
/
3200
62
'
/
I
\//
V
\ i'
\ i
V
\
/
/A\
\
V
\\
\
\
V *
•N
\
\
\
\
51
\
y
%
\
X.\
50
49
\
\\
48
\
\
•
47
46
This diagram shows the course of English prices, according to the Index Nos. of the Economist, and
also of the gold price of silver, from 1873 to 1885.
The line
— represents the prices of silver and the line—
the Index Nos.
It will be observed:—
(1) That thefluctuationsin the price of silver have been very great.
(2) That the price of silver and the prices of commodities in England rise and fall together.
REPORT OFVTHE SECRETARY OF THE TREASURY.
- ; ./^
.'; . ,
' llV
APPEE"DIXD.'
CLASSIFICATION OF PERSONS IN T H E UNITED STATES ENG:AGED IN
GAINFUL OCCUPATIONS.
.\
•.
•
•
, .
;
(:N'a
'
-
1.)
.
'
TREASURY DEPARTMENT,'.
O F F I C E OF THE SECRETARY,
'
V
' ^
Washington^!). (7., November^. 1886.
S I R : I desire to procure for use, in connection with the preparation
of m^^ Annual Eeport, a classification of persons in the United States
engaged j n gainfal occupations; and it has been suggested to me that
Mr. WorthingtonC Ford, chief of the bureau of statistics of the State
Department, may be able to give me the information I seek. Will you
oblige me by requesting him to reply, thrqugh your' office, to the ques-,
tions comprised in the accompanying memorandum.
, ,
Eespectfully yours,
• . ^'
.
' DANIEL MA]ST]sn]v[G, ' , .
Hon. THOMAS F . BAYARD,
^ Secretary.
Secretary of State.
.' . '
,(No. 2.)
.
'
;
Memoranda.
TREASURY^ DEPARTMENT,
O F F I C E OF THE. SECRETARY,
Washington, B. C, Noveniber 9, 1886.
SIR : An official classification is desired of the people engaged ih
gainful work in the United States according to their occupation, the;
classification to be arranged as follows:
1. All those who cannot be subjected to foreign competition.
2. The lesser number who could be in part subjected to Ibreign competition.'' '
I
3. The proportion of the population who depend upon a foreign mar^
ket for the sale of their products.
•
(No. 3.) /
,
. '
The census of the year 1880 states the total number of persons engaged in gainful occupations to be 17,392,099, divided as follows :
a.
h.
e.
d.
Agriculture.....".
Professional and personal
Trade and transportation
..;
Manufactures^ mechanics, and niining
;
,... 7,670,493
.^.. 4, 074, 238
1, 810, 256
:.. 3, 837,112
Of these classes, ^'&'^ a n d ^ ' c ' ' may at once be set aside as nofc being
subject to foreign competition
Of class ^^a," all may be set aside in the same manner except the far- v
mers along the Canadian borders, for whose benefit, in fact, the entire
list of duties on provisions and agricultural produce was framed. As the
competition between American and Canadian farmers must be for the
12
IIEPORT OF THE SECRETARY^OF THE TREASURY:
home market, the wheat and cattle States of the West bordering on the
Dominion need not, be considered, as these articles meet in foreign markets only to compete with one ^another. This exception leaves Maine,
New Hampshire, Yermont, and a,part of' New York to be subject to
foreigh competition. The total agricultural population of the three
States first named was 181,871, to which ma^^ be added one-half of the
agricultural population of New York^—an extremely liberal estimated'
The total is 370,651, which deducted from class ^UiJ^ leaves 7,299,842
' of that class not subject to foreigii competition.
Of class ''d^^l 2;862,980 can be said to be beyond the reach of foreign
competition, the details being given in ^'A,*/ annexed. In-inaking u]3
those details, the following were general rules for admitting occupations:
1. A heavy export shows ability to compete in foreign hiarkets—6. g.,
cars, provisions, &c. .
'
.
...
2. Natural advantages-^6.^^., petroleum, cotton-^eed. oil,'(fee; artificial advantanges, Acquired .through inventiveness," special aptitude,
and ..even monopoly; e. 77., agricultural implements, hardware, exteilT
sive use of machinery, (boot and shoe industry, clock-making.)
^ 3. Occupations which every community must have—e.g., bakers,
butchers, carpenters, masonsj &c. ,
_
,' •
These'deductions, together with about 60,000 included in the tables
but without a specific occupation named, leave the ^figures detailed in
^ ^B," annexed, (total, 913,069,) as representing the workers subject to fbreign competition, speaking most generall}^ Heavy deductions should
made in neaiiy every iteni; thus, among miners, the workers in gold
and silvei; mines, or in the copper-mi nes, should not be counted.
Bookbinders and finishers are just ;as essential (0 a community as masons and, carpenters; so also of publishers. Still, both trades insist
that they cannot comx3ete with foreigners on equal conditions; and.of
the difference in cost.I have had some experience. With such, advantages as the couhtry pos.sesses in respect to copper, it would be strange
were'the brass iudustries wiped out if unprotected by a tariff. Protection of distance would in many instances'maintain industries against
the foreign industry. Making all allowances in favor of protection,; at
least one-half of '' B^' eould be setasidc^as beyond the reach of competi-'
tion, and the list might be narrowed down to the six, folio wing industries, or rather certain branches of them:. Iron and steel, cotton goods,
woollen goods, silk goods, glass, and pottery. , ' .: ,
Taking one-half o f B' ^ as a fair figure, (456,534^) and adding that part
of /' a " which was regarded as subj ect to competition, the total is 827,185
out of 17,392,099, or about 4.7 per cent. The matter, then, stands
thus:
'
^
,
I
,
Not subject to competition ......"...^
Subject to ^competition.
J
•.
•
.^.
'
16^ 564, 914
827, 184
REPORT ..OF THE SECRETARY OF THE TREASURY.
Not^ subject to foreign competition.' .
Agricultural i mpl em ents
4 81^1
Apprentices
44 170
Bakers,..%
— • ,41 309
Blacksmiths...
172 726
Bleachers, dyers, and scourers
,8, 222
Blind, door, and sash. •.
.....'
4 946
Boat-makers...........s
).-.. 2 063
Boot and shoe makers
194, 079
Bottlers and miner al-water..
• 2 081
Box-factory operatives
,.. 11 568
Brewers and maltsters.
,16 278
Brick and tile..
.'
36 052
Bridge builders and contractors...
2 587
Britannia and j apa'iined ware
1 375
, Builders and contractors
10, 804
Butchers,
:
76, 241
Cabinet-makers
50, 654
Can die, soap, ,and tallow
2, 923
Car-makers...'.
4, 708
Carpenters and j oi ners
373. 143
Carriage and Avagon makers
.'.. 49 881
Charcoal and lime burners
5 851
Cheese-makers.
^
4 57U
Cigar-makers
.....:
56 599
Clerks and book-keepers in inan° ulacturing establishments
10, 114
Clbcks and repairing, (2807,1547). 4^ 354
Confectioners
13 692
Coopers
49, 138
Distillers and rectifiers
3 245
Engineers and
firemen
79 628
Employes, ,(not specified).. .^....'.... .^ 34 536
Engravers
4 577
Fertilizers
1 383
Fish ermen and oys ter men
41 352
Gas-works... .>.
4, 695
Jewellers.
28, 405
•Gun and lock smiths
10, 572
Harness and saddle makeris
39, 960
Leather, &c., (not case and pocketbook-makers)
29 842
Lumbermen and raftsmen
30. 651
IVI ach i n i s ts
:
101 130
Manufacturers
44 019
Marble and stone cutters...."...'32, 842
Masons
..-..;
102,473
Meat-preserving and packers
6J 296
Millers
,53,440
Milliners, dress-makers, &c
285, 401
Mirror and picture frames
2,. 503
Olficials, manufactures and mining
8,198
Oil-mill, refinery, and well
11, 269 *
Painters and varnishers:
128, 556
Paper-hangers
:... 5,013 ,
Photographers
,.. ' 9,990'
Piano-forte
'.
'..
5,413
Plasterers.....
22', 083
Plumbers and gas-fitting
19, 383
Printers, &c
.^
72,726
Quarrymen
..)
15,169^.
Quartz and stamp mill.
1, 449
Rag-pickers
^ 2,206
Railroad builders
,..:..
1, 206
Roofers and slaters.'
4, 026
Saw and planing mills
77, 050
Sawyers
5,195
Scale and rule
:'
1,027
Sewing-machines.
2, 725
Shingle aud lath.
5,166^
Shirt, col lar, and cufi's
:... 11, §23
Starch
'..:
;..:
:•
1,385
Stove, furnace, and grate ............ - 3,341
Tailors
'
42,818
Tool and cutlery.....
13, 749
Tobacco factory
—
20, 446
Upholsterers
,
10, 443
Wheelwrights
:.";.. 15, 592
Wood-choppers....
:
12,731
Wood-turners..:..........
12,96,4
Gilders
.1,763.
Hair-cleaners, &c
.... . 1, 965
Organ-makers.
;...
2, .437
Pattern-makers
;.
' 5, 822
Pump-makers
.'
1,366 ,
Sail and awning
V.
2, 950
Sewing-machine operators
7, 505
Stave, shook, and heading
....a 4,,061 >
14
REPORT OF THE SECRETARY OF THE TREASURY.
•
•
..
• V
B
-
.
'
- •
•
.
^
'
Fqrtially subject to foreign conipetition.
Artificial-flower maker."
v.
3, 399
Bag-makers,h.emp,jutej and flax.. ' 1,408
Basket-makers.:
....<
:....
5, 654
Bone apd iVory workers
1, 888
Bookbinders and finishers ;...., 13, 833
Brass founderies, &c
11,.568
13room and brush makers............
8, 479
Button-makers.
.\
4, 872
Carpets
...'.
17,068
Chemical works
2, 923
Coj^per-workers
2, 342
Corset-makers
4, 660
Cotton-mills......
169,771
File makers and. grinders...........
1, 839
Flax-dressers
:
' 1, 894
Fur-workers
1, 580
Galloon, gimp, and tassel
2, 235
Glass-works...'
;.....
17,934
Glove-makers
4, 511
Hat and cap makers.
:
16, 860
Hosiery and knit mills
12,194
Iron and steel
114, 539
Lace
- 1, 708
Lead and zinc......
'..
2,105
Leather case and pocket-books....
1, 397
'Miners.....
234,228
Nail-makers
.'..:...
5,803
Paper-mill operatives.....:
21, 430
Potters.....
:
7,233
Print-works
5,419
Publishers
- '2,781
Rope and cordage makers
/ • 3, 514
Rubber factory.
6, 350
Salt-makers;
, 1, 431
Screw-makers.
;
^ 1, 361
Ship-carpenters, &c
l7. 452
Silk-min
18,071
Steam-boiler makers......'
12, 771
Sugar makers and refiners..-:
2, 327
Thread-makers
'
....:..... 3, 259 •
Tinners '^ and tin-ware
;
-42, 818
Trunks, &c...
:
3,013
Umbrella
1,967
Wire makers and workers
7,170
Woollen-miU
'88,010
='=.lf tills mearis roofers, &c., it should go on list " a," with carpenters, masons,' «fec.
; It .is difficult to make a satisfactory reply to the last* inquiry. The^
price o f t h e products which are produced in excess of .home wants'
depends upon an outlet, or foreign market. But the body of producers
is very diffe:^^ently affected by variations in prices. All farmers do not
depend ui)on a foreigi.i market for wheat, nor do all wheat-growers. Ih
general, wherever there is a heavy export, that industry which produces
•the exported article may be said to "'depend'^ upon a foreign market.
But to state the proportion of the population which is so, dependent,
even in the most generalsterms, is hardly possible.
^•
Eespectfully submitted.
' .
:
' •,
•.
• WOETHmGTOE" C. FOED.
-(JS^o. 4 . )
'-•'^
'
.
'
•
.TREASURY^ DEPARTMENT,
' ^
O F F I C E OF T H E SECRETARY,
Washington, D. <7., Novemher^, V^%%.
S I R : I desire to procure an official classification of the .people engaged in gainful work in the United States, according to their occupation, the classification t6 be arranged as follows:
1. All those who cannot be subjected to foreign competition.
2. The lesser number who could be in part subjected to foreign competition.
, .
3. The proportion of the population who depend upon a- foreign
market for the sale of their product.
Eespectfully yours,
•
; • . .
E. B.
•
Esq.,
Government Actuary.
ELLIOTT,
•^
DAisriEL MA:N']sn]STG-,
'
Secretary.^
REPORT OF THE SECRETARY OF THE TREASURY.
;
•••/
•V •
y \-
••
,
^
"•
U.-S.
'
( ¥ o . 5 ; > - . .
" •
15
•
TREASURY BEPARTMENT, •
O F F I C E OF GOVERNMENT ACTUARY,
•. ,
' Washington, D. €,, November^2%^, 1886;
S I R : In response to your communication ofthe 9th instant, expressing a '^desire to procure an official classification ofthe people engaged
in gainful work in the United States, according to their occupation,'?
the classification to be arranged as follows: ^' 1. All those'who cannot be
subjected to foreign competition; 2. The lesser number Avho could be
in part subjected to foreign competition,'' I have-the honor to say that
careful investigation seems tp show that of the whole nuniber of persons •
engaged in gainful occupations, according to the United States census
of 1880, to wit, 17,392,099, there were-from 800,000 to 850,000,,say
825,000, such persons who were directly subjected in part to foreign
competition, indicating that from 4^^ per cent, ^to 4^^ per cent., say
abbut 41 per cent., of the whole number of such persons were of this
class, and that about 95i per cent, of the whole number, were of the
class which was not subjected to foreign competition.
,
' The basis of these estimates may be found in the accompanying tables,,
rnarked A.
'
*
.
Very respectfully,
•: •
' •
E. B. ELLIOTT,
, •'
\
'
Grovernment Actuary. \
• Hon.
D A N I E L MANNING,
. Secretary of the Treasury.
A .
'
.
.
'
''
•
•
.
•
.
, '
,
Persons engaged .in gainful occupations] according to United States census of 1880, iliai are
subject in part to foreign competition.
. '
Artificial-flower makers
«.
3, 399
Basket-makers
.......:
:.....
5,'654
Bone and ivory Avorkers
:
1, 888
Britannia and japanned ware makers
•
1, 375
Candle, soap, and tallow makers
,
, . 2, 923
Carpet-makers.
.^,
,
17, 068
Chemica;l-works employes
'
.^:
2, 923
Cotton-mill operatives.
'•...:
";
.'.... 169, 771 '
Glass-works operatives:
17, 934
Gold and silver workers and jewellers
•.
28, 405
Hosiery and kuitting mill operatives
12,194
Iron and steel works and shops operatives
.- -114, .539
Lace-makers
,
1, 708
Leather curriers, dressers, finishers, and tanners
,.... 29, 842
Salt-makers
'.
—
1, 431
Silk-mill operatives
18, 071
Sugar makers and refiners:
^ 2, 327
thread-makers
.'
..."
:
• 3,259
Woollen-mill operatives
:
88, 010
Wool-growers, (estimated)
^
>.
80, 000
Total
;
....;
602,721
16. •. REPORT OF. THE SECRETARY OF THE TREASURY.
A considerable: portion ..,of those belonging to the following' classes
. should also be included in the number of persons eh gaged in gainful
occiipatioiis who,are subject in-part to.foreign competition:
_'
• -Apprentices to trades
,
...::
,....,
Brass founders and workers
Employes in manufactu?ing establishments..
Lumbermen and raftsmen.
•...;..
.:' Mill and factory operatives,' (not specified)
Saw and planing mill operatives..
•.
Ship carpenters, calkers, riggers, and smiths.
Tool and cutlery makers
Totah....."^
;
:
•• •
••.
..^
\.
'
.....^.^........t
:....,. 44,170
:.... .^ 11, 568
34, 536 •
;
30, 651
30, 836
77, 050
:...... 17, 452
13, 749
:
....':.;..
:........
^
!.. 260,012
(JSTo. 6.) • • •
' .
;• •:
TREASURY^ DEPARTMENT,
O F F I C E OF T H E SECRETARY,.
^
'
^' ,
, Washington^ D. G., November 28, 1.886.
I SIR : I have sought to ascertain, by inquiries addressed to competent
experts in this and other departments of the Government, what proportion, of all the people of the United States shown by the last census
of :188p to be engaged in gainful work, the nurabers were of those— ,
1.' Who cannot, in their work, be subjected to foreign competition;
2.,'Who, in°their work, could be in part subjected to foreign comi3etition.
.
, '
. Herewith I enclose copies of replies from Mr. Elliott, of this Department, and from Mr. Ford, of the State Department, who concur
in computing the number of tliose engaged in gainful work who cannot ,
be subject to foreign competition at more than 95 per cent, of all, and
• those who could be in part subjected to foreign competition at less than
5 per cent, of all.
^
. ' Eecalling your numerous and valuable contributions to the- discus- '
sion of questions in political economy, as well as your acknowledg;ed
rank as a master of the more exact sciences, I venture to ask of you,
if the tax upon your time be not too great, a review and careful criticism df these classifications and computations, with a view to confute,
confirm, or correct, as the truth of'fact may be, the conclusion above
mentioned, (95 per cent, -f and 5 per ceiit.—,) in which Mr. Elliott
and Mr. Ford, by different methods, agree^.
\
,"
An early reply will greatly oblige,
.
> Yours, very respectfully,
,
^
DANTIEL MANNIN^G, '
• Secretary. '
SIMON NTEWCOMB, Esq.
^'
•,•
••'
^
*.
,
( N o . 7.)
'
.
•
:>
-
•.
•
•
_.
, ^.
WASHINGTON, D . C , November 29,'1886.
SIR : I have the honor to acknowledge receipt of your communica-.
tion of 22d instant, in Avhich you request an estimate of the fraction of
the population of the United States engaged in gainful work which
could be. subj ect to foreign competition. With your letter you enclose
REPORT OF THE SECRETARY OF THE TREASURY.
17
communications from Mr. E. B. Elliott and Mr. Worthington 0. Ford,
in which the leading occupations are divided into two clashes, those in
which such competition is possible and those in which it is not possible. You ask for a careful criticism of these classifications with a
view of confuting, confirming, or correcting their conclusions.
These two authorities agree very closely in the conclusion that the
percentage of our industrial population, which may be wholly or partly
subject to foreign competition, cannot exceed five per cent. The discussion ofthe subject by Mr. Ford seems to me so full and clear that
little can be added to it which will essentially change the final conclusion. It appears that, accepting the numbers given by the census
tables, our industrial population may be divided as follows:
1. Persons engaged in professional and personal services, trade and transportation, with whom no foreign competition is possible, for the reason that any competitor must reside in the country where the work is
done or the service rendered
5, 884, 494
2. Persons engaged in agricultural pursuits, in which foreign competition is
impracticable, owing to our superior natural advantages and the necessary cost of transportation
7,299,842
3. Persons engaged in manufactures, mechanics, and mining, and in agriculture on the Canadian border, who inight possibly be subject to
foreign competition
4,207,763
Were there no differences between different countries in the natural
and acquired skill of their industrial population, in the accessibility to
nature's stores of raw material, and in the possession ofthe other requisites of production, and did transportation cost nothing, then a
considerable part of this third class would be subject to foreign competition. .A.S a.matter of fact, however, such competition is limited by
the following causes :
1. Cost of transportation. This, of course, varies with the article
and the country. Without attempting any exact investigation of the
rates of freight, it may be supposed that, between our Atlantic ports
and the principal seaports of Western Europe, the general average
cost of freight will not differ greatly from five dollars per ton of forty
cubic feet .each. On all products which are bulky in proportion to
value, this will necessarily be equivalent to a heavy protective tariff.
2. The profit or compensation of the foreign exporter and of his
American consignee, which must compensate them not only for their
labor, but for the numerous risks to which goods are subject when
shij)ped to a foreign market. This item will probably range from 2
to 10 per cent, on the value of the goods, but I am unable to give any
accurate estimate of its amount.
3. Special skill in particular industries, which, can be acquired only
through natural aptitude, combined with years, or even generations,
of practice, count enormously in the result. The skill of the Swiss
in watch-making, and of the New Englander in the manufacture of
boots and shoes, clocks, and cotton fabrics, are cases in point.
4. The general efficiency of labor. In many of the leading manufactures the relatively high-priced labor of England competes successfully with the low-priced labor of the continent of Europe.
5. The possession of raw material is a most important factor in tlie
result. By so much as it costs to.export raw cotton to a foreign
country, by that much would a factory where the cotton is raised enjoy
an advantage in competition.
H. Ex. 2 — 2
r
18
REPORT OF THE SECRETARY OF THE TREASURY.
Examining Mr. Ford's classification in the light of these considerations, it seems to me that the following additions might be made to his
list of producers partially subject to foreign competition:
1. The wool-growers ofthe United States, who are no doubt included in the
agricultural population. The census gives no data for determining
their number, but it can hardly exceed a few thousand.
2. Brewers and malsters
16, 278
3. Britannia and japanned ware
1, 375
4. Candle, soap, and tallow makers
'...
2, 923
5. Cheese-makers
.^
, 4, 570
6. Cigar-makers..
56, 599
7. Confectioners...
:
13,692
8. Engravers not employed in job-work...
.-.
4, 577
9. Manufacturers...
44,019
10. Scale and rule makers
,
1,027
11. Tools and cutlery makers
,
13,749
Total, besides wool-growers
158, 809
Estimating, as Mr. Ford does, in the case of the otlier occui^ations,
that one-half of these would be subject to foreign conipetition, the total
number so subject becomes 906,585, or five and two-tenths per cent, of
the industrial population.
The general conclusion that, if trade were entirely free, the fraction
of our present industrial population injuriously subject to foreign competition would not exceed six or seven per cent., seems to me unquestionable.
^ Yery respectfully, your obedient servant,
SIMON l^EWCGMB.
Hon.
SECRETARY OF THE
TREASURY.
REPORT
OF T H E
SECRETARY
OF T H E
TiiEASURY.
19
APPENDIX E.
IMPORTS ENTERED FOR CONSUMPTION AND DUTIES COLLECTED, 18851886.
Articles arranged in the following classes :
^
CLASS A. —Articles of food, and live animals.
CLASS B.—Articles in a crude condition, which enter into t h e various processes
of domestic industry.
CLASS C.—Articles wholly or i)artially manufactured, for use as materials in t h e
manufactures and mechanic arts.
CLASS D.—Articles inanufactured, ready for consumption.
CLASS E.—Articles of voluntary use. luxuries, &c.
Value of imported merchandise entered for consumption in the United States, ivith the amount
of duty collected thereon, during the years ending June 30, 1885, and June 30, 1886.
./ CLASS A. - ARTICLES OF FOOD, AND LIVE ANIMALS.
1885.
'
1886.
Articles.
Value.
Free of duty.
Animals, not elsewhere specified .
Cocoa or cacao, crude, and leaves
and stiells of
Coffee
Curry and curry powder
Eggs
'Farinaceous substances, and prep.arations of, not elsewhere specified Fisb, not elsewbere specified
Fruits, includiug nuts, hot elsewbere specified... -•
--Oil cake
Sauerkraut
-. Spices unground
Tea . . .
Yams
Dollars.
3, 363,445
32,690
1, 332, 375
46, 723, 290
4,252
2, 476, 705
597, 7i9
3, 378,.897
3, 773, Oil
10,495
27,114
2, 500, 314
13,723,381
2, 627
Duty.
Dollars.
Value.
Pr.ct
Dollars.
3,310,617
37.915
••^
i, 793, 398
42, 675,600
^ 4, 009
2,173,336
J
690,184
985,574
.
.
3, 920, 702
38,633
19, 945
2,792,034
15, 770, 827
3,350
Articles imported free of duty
under reciprocity treaty with
Hawaiian Islands:
Kiee
.
Molasses
Sugar .
404,478
9, 054
8,198,144
. 361,567
7, 786
9,166,826
Total from Hawaiian Islands
8, 611, 676
9,536,179
Total free of dnty
86, 559, 991
83, 752,303
:.z=:^=:_^
^
Duty.
Dollars.
............
Pr. ct.
20
REPORT OF THE SECRETARY OF THE TR:KAStlRY.
Value of imported merchandise entered for consumption, ^"c.—Continued.
CLASS A.—ARTICLES OF FOOD, AND LIVE ANIMALS-Continued.
1886.
1885.
Value.
Dutiable.
I*
Animals, not elsewbere specified.
Breadstuffs
Chicory
Chocolate
i.
Cocoa, prepared
Coffee substitutes
Fish, not elsewhere specified
Fruits, including nuts, not elsewhere specified
Hay..
,
Honey
Infants' food
Oils, olive and other salad
Provisions, comprising meat and
dairy products
Rice
Salt
Spices, not elsewhere specified...
Sugar and molasses:
Molasses
Sugar
Duty.
Value.
Dollars.
679, 994
1,030, ,556
75, 535
3,660
12,739
2,470
281,972
Pr. ct.
20.00
15.65
57.68
7.33
10. 06
35.13
19.49
Dollars.
3,613,473
7,164,362
132,144
76, 047
150,712
5, 814
2,266,304
Dollars. Pr. ct.
722,695 20.00
1, 042,404 14. 55
80, 922 61.24
5, 394 7.09
17,299 11.48
1,612 27.73
502,288 22.16
13, 017, 503
1, 517,884
26, 227
21, 667
569, 896
3, 676,460
321, 821
11, 624
4,333
142, 474
28.24
2L20
44.32
20.00
25.00
12, 990,172
1,035,409
16, 245
• 37, 617
558,068
3,504,472 26.98
184, 351 17.80
9,024 55. 55
7,523 20.00
139,462 25. 00*
408,
1, 619,
751,
62,
22.38
75.88
53.03
37.69
2, 051,454
1, 611, 525
1, 493, 397
168, 368
479, 077 22. 36*
1,184,138 73. 53*
706, 324 47.30*
66,121 39.27
1, 825,330
2,134,189
1,416,826
' 165,718
408
523
390
463
1,289, 224 29.17
50,885,916 73.66
Total sugar and molasses.. ' 73,497,930
,
—
Duty.
Dollars.
3, 399,972
6,584,752
130, 964
49, 908
126, 627
7,031
1,447,029
4,419,073
69,078,857
Vegetables:
Potatoes
All other
Vinegar
Total dutiable
ap^
a >^
Articles.
5,412,176 1, 501, 385
71,311,090 .50, 265, 538
27.74
70.49*
76,723, 266
51,-766,923
67.47
650, 292
1, 690, 706
18, 550
291,754
345, 791
7,170
44.86
20.45
38.65
98, 827
328,119
7,739
38.67
22.03
35.88
107,706, 369 61, 695, 247
57.28
112.453, 925 61,064,744
54.37*
86,559,991
107,706, 369 61, 695, 247
57.28
83, 752, 303
112,453,925
61,064,744
54. 37*
61, 695,247
3L76
196, 206,228
61, 064,744
255, 584
1,489, 766
21, 565
Becapitulation.
Total free of duty
Total dutiable
-'.
Total Class A
194,266,360
CLASS B . — A R T I C L E S I N A CRUDE CONDITION, WHICH ENTER INTO T H E PROCESSES
01^ DOMESTIC INDUSTRY.
Free of duty.
Aluminium
Asbestos, unmanufactured
Asphaltum or bitumen, crude —
Bells and bell-metal, fit only to be
remanufactured .
- .....
Bones, crude, &c., not for fertilizers
Brazil pebbles, for spectacles &c.
Burrstone, unmanufactured
Chalk and cliffstone, unmanufactured
Dollars.
4,736
69,489
97,602
DoUars.
Pr. ct.
Dollars.
5,297
91,088
87, 651
1,914
84,425
2,307
117,769
162, 985
6,541
35,022
310,731
17, 379
40,772
25,961
58, 941
Dollars.
Pr. ct.
Chemicals, drugs, and dyes, not
elsewhere specified:
2, 606, 001
2, 950,988
Argal or argol, or crude tartar.
101,371
Arsenic
85,783
Balsams: Copaiva, fir, Peru,
87, 786
63,393
and tolu
NOTE.—The value of articles withdrawn from warebouse on wbich duty has been remitted has
been excluded from the computation of average ad valoiem rates of duty in this table. The articles
a,ffected by sucb withdrawals are indicated in the right-band margin of the statement by a star (*).
EEPOET OF THE SECEETAEY OF THE TEEASUEY.
21
Value of imported merchandise entered for consumption, ^o.—Continued.
CLASS B.—ARTICLES I N A CRUDE CONDITION, &c.—Continued.
1885.
1886.
Articles.
Value.
Duty.
Yalue.
Duty.
^t
Free of duty—Contmued.
Chemicals, drugs, and dyes, not
elsewhere specified—Cont'd.
Barks: Calisaya, Lima, and all
cinchona barks
Berries, nuts, and vegetables,
&c., used in dyeing, &c
Cochineal
Dyewoods, in a crude state . .
Flowers, leaves, &c.t Buchu,
chamomile, rose, senna, &c
Gums: Amber, arable, benzoin, camphor, catechu, terra japonica, tragacanth, &c.
Iodine, crude
- -.
Roots: Columbo, gentian, licorice, madder, &c
Sulphur, crude
Tonka beans
Vanilla beans
All other
Total chemicals, &c .
Coal: Anthracite and charcoal . . .
Coir and cocoa fiber
Copper, old, taken from the bottoms of American vessels compelled by marine disasters to repair in foreign ports
Corkwood, or cork-baik, unmanufactured
Cotton, unmanufactured, andcotton waste
Diamond dust, or bort
Feiiiilizers:
G-uano —
All other .
Total fertilizers.
Fish sounds or fish-bladders
Flint, flints, and ground flintstones
—
Furs and fur-skins, undressed —
Gold and silver sweepings
Grease for use as soap-stock.only,
aud all other soap-stock
Gut, cat-gut, or whip-gut, unmanufactured
Hair, not elsewhere specified
Hide cuttings, raw, and all gluestock
Hides and skins, other than furskins
Hoofs, horns, &c., unmanufactured
India-rubber and gutta-percha,
unmanufactured
Istle, or Tampico fiber
Ivory, unmanufactured:
Anim al
'
Vegetable
Lithographic stones, not engraved
Meerschaum, crude or raw
Mica and mica waste
Minerals, crude, not elsewhere
specified
..
Moss, seaweed, &c., used for beds.
Ores, not ekewlier^ specified
DoUars
968* 093
Dollars.
Pr. ct.
DoUars.
959,212
134,015
206, 802
1,173,984
160,676
196,271
1^ 723,306
196, 562
243,787
3, 854, 614
310,015
4,209,963
82, 665
841, 858
1, 941, 943
109,285
412, 673
1,138, 833
1,570,086
2,237, 989
131, 084
431,155
1,274,247
14, 413, 234
15, 991, 206
63,182
37, 555
56,989
11, 605
1,160
374
879,243
891,392
980, 031
30,426
672, 508
32,316
393, 039
1, 095, 055
341,647
1, 792,840
1,488, 094
2,134,487
124,201
144, 652
2,380
1, 854, 503
10,121
3,956
2,275,335
11,351
76, 883
67,756
26,455
1.551,828
19,714
2,229,685
321,137
338,537
20, 599,132
26,693,230
188,314
181,529
9,105,256
294,636
11,888,192
326,311
498.816
194,046
54, 022
42, 590
28,685
515,464
157,362
71,009
23,417
43,107
12, 059
29,951
534,211
12,284
45,876
1,345,294
DoUars.
Pr.cL
22
REPOKT OF T.HE SECEETARY OF THE TREASURY.
Value of imported merchandise entered for consumption, <^c.^Continned.
CLASS B.—ARTICLES I N A CRUDE CONDITION, ifec.-Continued.
1886.
1885.
Articles.
Value. •
Duty.
Value.
Duty.
r::iS
F r e e of d^if?/—Continued.
P a n e r stock crude
P a l m leaf, u n m a n u f a c t u r e d
P l a n t s , t r e e s , s h r u b s , «fec., n o t
e l s e w h e r e snecified
P l a s t e r of P a r i s , u n g r o u n d
...
Polishing,
pumice,
and
Dollars.
5, 842, 028
4,916
Dollars.
P r . ct.
'
'
202,109
119,544
285, 239
207, 228
J^ollars.
5, 099, 977
•
730
Dollars.
P r . ct.
211 74.'^)
115', 696
3.56, 020
164, 111
rotten'
Quills, p r e p a r e d o r u n p r e p a r e d . . .
Rennets, r a w or prepared
S e e d s , n o t e l s e w h e r e specified
Shells n o t manufactured
Silk u n m a n u f a c t u r e d
S p a r t e r r e , for m a k i n g o r ornamentinghats
..Straw unmanufactured
20, 653
1,090
72, 282
259, 297
706, 841
14u, 575
12, 925, 362
36 995
758
86 233
286, 652
1, 535, 649
207, 966
• 18,277,216
1, 7.52
18,795
23. 095
131
21,691
25, 051
288,979
248
4,045
•41,378
236,198
8, 845
3,143
25, 078
4,263,447
32, 568
2, 982, 569
136, 881
5, 873,773
12, 614
2, 774, 976
162, 243
Talc .1 .. '
Tanning materials, not elsewhere
specified:
Hemlock bark
. . .
*
O t h e r ai'ticles, i n a c r u d e s t a t e
Teazles
T e r r a alba, a l u m i n o u s
Tin, bars, blocks, or pigs, grain or
granulated
Whalebone, unmanufactured., i .
Wood, unmanufactured
Afl o t h e r free a r t i c l e s
T o t a l free of d u t y . .
•
1
82, 507, 747
102, 438, 364
Dutiable.
30,167
1, 029, 975
2, 632
149,982
•8.72.
14. 56
10.00
22. 58
28.94
22.74
191, 226
55, 969
200,078
2,624, 991
19,123
13,050
60,261
610,375
10.00
23. 32 ^'
30.12
23. 28
91, 644
26.66
. 413, 276
103, 096
24 95
27, 987
356
12, 577
71
44.94
20.00
17, 633
136
7,778
27
44.11
20. 00
Flax, hemp, j u t e , a n d other textile
grasses:
E l a x , r a w , a n d t o w of
H e m p , a n d s u b s t i t u t e s for . . . .
J u t e , r a w , and j ute b u t t s
Sisal g r a s s a n d o t h e r v e g e t a b l e s u b s t a n c e s , a n d n o t elsew h e r e specified
".
1,732,667
4, 771, 830
. 3,090,060
134, 973
764, 260
548, 255
7.79
16.01
17.74
1, 548, 800
3, 932, 692
2, 581, 919
113,139
702, .373
528, 587
7.30
17.86
20.47
499, 971
20.96
T o t a l flax, h e m p , &,c
11, 980,115
B r a s s , b a r s o r p i g s , a n d old
Bristles
B r o o m - c o r n a n d rice-root for t h e
m a n u f a c t u r e of b r o o m s .
Cheraicals, d r u g s , d y e s , a n d medicines, n o t e l s e w h e r e specified:
Antimony, crude
Other drugs a n d dyes
Clays or earths . . .
Coal, b i t u m i n o u s , a n d c o k e
''"Tres
B a r s , i n g o t s , a n d p i g s , old fit
' only for r e m a n u f a c t u r e , a n d
r e g u l u s of
C o t t o n , w a s t e or flocks
Grease, all n o t specially enumera t e d o r p r o v i d e d for
.*..
Hair, cleaned, unmanufactured,
hog's hair, h u m a n hair unclean,
ed a n d c l e a n e d o r d r a w n b u t
not manufactured
Hops.,,,., ,..,
,
10,249
941, 039
2,529
118, 336
15. 57
12. 57
2,148
215
10.00
223, 741
87, 630
160, 621
2, 654, 602
22,374
19,781
46, 480
603, 734
043, 793
2, 385, 558
•
317,961
1,947,459 1 16.26
46,159
•2,178, 707
10, 242,118
497, 627
22.84
1, 841, 726
17.93
14.51
336, 673
49,173
14 61
24.43
30.11
111, 615
440, 217-
27, 618
217,918
24.74
49.50
•
123, 338
435,510
30,141
131,15.3'
* See »ote on page gO.
23
EEPOET OF TBE SECEETAEY OF THE TEEASUEY.
Value of imported merchandise ent&red for consumption, ^c.—Contmued.
CLASS B.—ARTICLES I N A CRUDE CONDITION, &c.-Continued.
1885.
1886.
It
Articles.
Value.
Is
Duty.
Value.
Duty.
• f o
<1£
Dutiable-—Oontimi^ii.
I r o n a n d steel, a n d m a n u f a c t u r e s
of, n o t e l s e w h e r e specified:
Ore
Pig-iron.-.
Scrap-iron
B a r s , billets, blooms,, b l a n k s ,
i n g o t s , &c., of steel. —
Dollars.
945,922
2,706,237
278, 607
T o t a l i r o n a n d steel, & c
Dollars. Pr.
314,317 33
1,035,721 38
156, 202 56
ct.
23
27
07
Doilars.
1,312,322
4, 041,367
557,402
972, 909
362, 437
37.25
1, 85.9, 827
4, 903, 675
I, 868, 677
38.17
• 7,770,918.
Dollars.
532,956
1,737, 658
308, 985
P r . ct.
40. 61
43. 00
55.43
752, 073
40.44
3, 331,672
42.87
74.60
49.30
•
L e a d : M o l t e n a n d old, ore, a n d
dross, a n d pigs a n d b a r s
Marble a n d stone, unmanufactur'd
Metals, metal compositions, n o t
elsewbere specified: A r g e n t m e ,
a l b a t a or G e r m a n silver; nickel,
n i c k e l oxide, a n d o t h e r u n m a n u fac<.ured m e t a l s , n o t e l s e w h e r e
• specified
...
. ...
Mineral substances in a crude
state, unmanufactured
P a p e r - p u l p , d r i e d for p a p e r r m a k e r s '
use
.'
Rosin.
'
. ...........'
S e e d s : C a s t o r b e a n s , g a r d e n seeds,
h e m p seed, flax seed, r a p e seed,
and bulbous roots
Sugar-cane.
- •
Sugar drainlngs.
.
....
T a r a n d nitch •
8L95
50.71
295, 522
496, 548
220, 461
244, 780
28, 714
16.60
251,317
42,375
16.86
2, 046
20 12
34, 070
6,814
20. 00
242, 616
170
24,262
34
10.00
20 00
280, 056
685
28,006
137
10.00
20.00
3, 720,707
1,251
13, 590
25,913
754,886
125
2,718
4, 662
29
00
00
95
1,805,298
542
26, 372
12,072
404, 758
54
5,274
2,247
22.42
10. 00
20.00
18.61
11,712
928
7.92
2,221
366
16.48
W o o d , a n d m a n u f a c t u r e s of:
Basswood, u n m a n u f a c t u r e d ;
t i m b e r u s e d for s p a r s , &c.,
and hewn a n d sawed or
SQuared o r s i d e d
' H u b s for w h e e l s , p e s t s , &c.,
a n d u n m a n u f a c t u r e d wood,
n o t e l s e w h e r e specified
Total wood
•
Rags, shoddy, mungo, waste,
and
flocks
...
... ....
Total wools
•
Zinc, spelter, o r t u t e n e g u e :
I n blocks, or pigs, a n d ore
All other dutiable articles
Total dutiable
'
117,410
' 258,997
172, 925
10, 228
20
10
20
17
97, 999
19, 600
20. 00
86, 873
17, 332
°20.00
109,711
20,528
18.71
89,094
17,698
19.86
2, 994, 533
921,252
1,357,102
• 394,909
45.32
42.87
4, 344,189
1,106,116
2,437, 049
490,910
56.10
44.38
5, 558,479
1,412,285
25.41
8, 343,908
2,198,149
26.35
323, 522
78, 904
24:39
919, 771
269, 652
29.32
9,797,786
3, 243,200
33.09
14,713, 984
5, 395,760
36.67
114,792
19,155
54,179
1,916
47.19
10.00
121,482
21,624
58,158
2,162
47.87
10.00
37,101,595
9,454, 989
25.48
41,613,658
12,863,115
30.91
82, 507, 747
37,101,595
9,454, 989
25.48
102,438, 364
41, 613, 658
12, 863,115
30.91
119, 609, 342
9,454, 989
7.90
144, 052,022
12,863,115
8.93
. V
W o o l s , h a i r of t b e a l p a c a , goat, a n d
o t h e r l i k e a u . Glials, u n m a n u f a c t ured:
C l a s s N o 1.—Clothing w o o l s . .
C l a s s N o . 2.—Combing w o o l s . .
Class No. 3.—Carp6tand other
143, 266
510,720
Recapitulation.
Tota.! free of d u t v
Total dutiable
TiDtal CliHS B
24
REPORT OF THE SECRETARY.OF THE TREASURY.
Yalue of imported merchandise entered for-consumption, 4'C.—Continned.
CLASS C—ARTICLES WHOLLY OR PARTIALLY MANUFACTURED, FOR USE AS
MATERIALS IN THE MANUFACTURES AND MECHANIC ARTS.
1886.
1885.
B^
Articles.
Value.
Value.
Duty.
Duty.
F r e e of d u t y .
Chemicals, drugs, and dyes, n o t
e l s e w h e r e specified:
Acids
M a d d e r , e x t r a c t of
^.....
P o t a s h m u r i a t e of
Quinine, s u l p h a t e a n d other
s a l t s of
...
Soda, n i t r a t e of, or c u b i c n i t e r S u g a r of m i l k a n d s u l p h u r l a c .
Turpentine, Venice, a n d uranium
All other
613, 674
Dollars.
390,867
107.893
479,491
180,735
2,261, 574
1,354,019
508
721,736
1, 515, 508
1, 696,055
22,894
903,108
1,681,824
58,646
Total chemicals, drugs, &c..
8, 530,-720
8,390, 494
Coir v a m . . .
...
•Feathers for b e d s a n d d o w n s
F e l t , a d h e s i v e , for s h e a t h i n g v e s sels
H a i r , h o g s ' , c u r l e d for b e d s a n d
mattresses .
'
Oils, n o t e l s e w h e r e specified
A l l o t h e r free a r t i c l e s
145, 370
216, 083
129, 822
246,143
30, 261
29,504
2,179
2, 246,156
14,718
91
.1,865,978
27,124
11,185,487
10, 689,156
Aniline salts and annatto
Indigo
Dollars.
Dollars.
412.946
94,5^6
404, 002
151,662
2,010,666
. 1,453,937
33,138
121,712
T o t a l free of d u t v
Pr.ct.
.
Dollars.
Pr.ct.
88,757
161, 336
Dutiable.
B u t t o n m a t e r i a l s : L a s t i n g s , mohaircloth, &c..
C e m e n t , R o m a n a n d all o t h e r
C h a l k , p r e p a r e d , F r e n c h , red, &c.
C h e m i c a l s , d r u g s , dyes, a n d medicines, n o t e l s e w h e r e specified:
Acids .
A n i l i n e d y e s OP colors
C h e m i c a l s a l t s or p r e p a r a t i o n s , n o t e l s e w h e r e specified
E x t r a c t s : H e m l o c k , indigo,
logwood, a n d o t h e r dyewoods
...
G l y c e r i n e '.
O p i u m , c r u d e , p r e p a r e d for
s m o k i n g , a n d e x t r a c t of, aiid
morphia
Potassa or potash. - ..
' . . ..
Soda, a n d s a l t s of
S u m a c , g r o u n d , a n d e x t r a c t of.
All other
•
447,685
874,070
16, 533
44, 769
174, 814
3, 307
10.00
20.00
20.00
479, 211
734, 395
16,117
47,921
146,879
3,223
10.00 •
20." 00
20.00
33, 222
1, 308, 058
10, 511
478, 820
3L64
35.00
69,438
1,493,388
27, 671
522, 686
39.85
35.00
324,166
81, 042
25.00
340,431
85,108
25.00
296,434
471, 588
29, 644
198,195
10.00
42.03
498, 306
568,496
55, 681
272, 524
11.17
47.94
1,284,767
811,483
4, 948. 579
504, 289
1,000,292
747,100
252, 211
1, 496, 842
52, 772
270, 897
58.15
31.08
30. 04
10.46
27.08
1.273,326
973, 786,
5,120,367
564, 672
1,232,442
866.185
291,789
1, 636, 522
64,032
331, 626
68. 03*
29.96
31.96
11.34
26.90
11, 042, 878
3, 618, 034
32.76
12,134,652
4,153,824
34.23
5,515
50.00
Total chemicals, drugs, dyes,
SIQ
C o l o r i n g for b r a n d y
C o p p e r : P l a t e s , rolled s h e e t s , r o d s ,
p i p e s , &c., a n d s h e a t h i n g or
yellow m e t a l
....
8,485
4,243
50.00
11,030
10, 014
3,505
35.00
81,292
457
Cotton, m a n u f a c t u r e s of: T h r e a d ,
y a r n , w a r p s , or w a r p y a r n , n o t
on spools
Emery, grains and ground » , . , . . . -
689, 341
18,675
329,178
. 4,226
47.75
22,63
704. 934
22, 628
335, 678
5,195
See note on page 20.
16. 80*
47.62
22.96
25
EEPOET OF THE SECEETAEY OF THB TEEASUEY.
Statement o f value of imported merchandise entered f o r o o n a u m p t i o n - ^ C o u t m n & d .
CLASS C — A R T I C L E S WHOLLY OR P A R T I A L L Y MANUFACTURED, &c.-Continiied.
1885.
1886.
* ARTICLES.
Yalue.
Duty.
is
^1
Value.
llf
11
^2
Duty.
<^
Dutiable—Continued.
Flax,hemp, jute, and other textile
grasses:
Oil-cloth f o u n d a t i o n s for floor
cloths
Yarns
T o t a l flax, h e m p , &o
F u r s : Dressed on t h e skin a n d
hatters' furs
Glucose...........
........
Glne
Gold a n d s i l v e r . m a n u f a c t u r e s o f :
Gold leaf a n d s i l v e r leaf
H a i r , m a n u f a c t u i e s of: C u r l e d
h a i r for b e d s , hair-cloth, a n d
hair seatings
H a t s , b o n n e t s , a n d hoods, m a t e r i a l s f o r : B r a i d s , p l a i t s , flats,&c.,
of s t r a w , &c
I r o n a n d steel, a n d m a n u f a c t u r e s of:
Bar i r o n B a r s or sb a p e s of rolled i r o n
B a r s , rolled or h a m m e r e d .
All other, a n d slabs,
blooms, o r loops
H o o p , b a n d , scroll, o r o t h e r
iron
Sheets, plates a n d taggers'
iron:
Boilers or other nlates.
a n d s h e e t iron, c o m m o n
or black
p
S h e e t s o r p l a t e s of i r o n
and steel (except w h a t
a r e knowtn a s t i n p l a t e s ) .
Sheets or plates, k n o w n
as t i n plates, terneplates, and taggers' t i n . .
T a g g e r s ' iren, p u t u p i n
boxes or bundles or n o t .
W i r e - r o d s , of i r o n a n d s t e e l . .
Wire»Iron
i
Steel
W i r e - r o p e a n d wire-sfcrand-»r
M a d e of iron w i r e
M a d e of s t e e l w i r e
W h e e l s of steel, a n d t i r e d s t e e l
wheels, & c . . . . . . . . . . . . . . . .
T o t a l i r o n a n d steel
Lead, in sheets and pipes
L e a t b e r : B e n d o r b e l t i n g , calfs k i n , s k i n s for morocco, u p p e r
l e a t h e r of all k i n d s & c
. .
Jjixae
Malt, barley
M a r b l e a n d st4»ne, r o u g h o r u n dressed
.
M e t a l s , m e t a l compositions, a n d
m a n u f a c t u r e s of, n o t e l s e w h e r e
specified:
Bronze or D u t c h metal, inleaf
and powder .
^liiKM-n' s u b s t a n c e s , n o t e l s e w h e r e
Fp(Tified; .PoUsliiug p o w d e r —
34196
DoUars.
890
826,102
DoUars.
356
289,136
P r . ct.
40.00
35. 00
209, 591
34.97
826, 992
289,492
35. 01
3,262,783
68,495
327,167
652 557
13, 699
65,433
20.00
20.00
20. 00
4,^023, 428
45. 227
433, 719
804,686
9,045
86,744
20. 00
20.00
1,800
1,099
6L06
5,725
699
12.21
79, 623
23,922
80.04
85,172
25,515
3, 827,658
771,186
20.15
4, 383,705
883,300
DoUars.
I 008
598, 094
Dollars.
403
209,188
599,102
P r . et.
40.00
^
2o!oo
30.00
20.15
.
1,165, 947
127,491
588, 261
49,470
50.45
38.80
li 131,888
136,468
558,838
47,100
49.39
37.11*
20,579
7,203
35.00
21, 432
7,501
35.00
18,274
' 6,919
37.86
94,549
44, 813
47.40.
183,308
70, 557
38.49
127,522
46, 972
36.83
302,704
107,681
35.58
391,869
144,732
36.93
16,610,105
5, 055, 591
30.44
17,719,957
5,740, 984
32.40
115, f87
3,914, 777
34, 675
1, 521, 584
30.10
38.87
145,186
i , 033, 687
43, 941
1, 651,949
30. 27
40.95
10,404
281,723
4,555
41, 550
43.78
14.75
8, 858
410,621
2,315
77,105
26.13
18.78
12,931
18,926
5L09
40.29
12, 604
39, 683
5,223
19, 561
54.16*
49.29
25,310
46,976 !
124,263
86,639
69.72
150, 704
109, 780
22, 947, 048
7,606,542
33.15/
24,425,028
8,500, 814
29,159 131.24
1,024
723
70.60
1,265, .621
4,131
64,618
17.24
10.00
27.17
29.10
22,217
6,717,813
28,270
267,928
1,197,213
2,827
75,779
17.82
10.00
28.28
239,846
60,306
25.17
299,051
87,025
347,302
48,386
13.93
555,115
. 77,758
42,489 1
8,498 1
* See note on page 20.
20.00
7, 339, 985
41 307
237,843
44,777 1
8,955 1
72.84
34. 82*
14.01
20.00
26
REPORT OF THE SECRETARY OF THE TREASURY.
Value of imported merehandise entered for consumption, cfx. —Continued.
CLASS C — A R T I C L E S WHOLLY OR P A R T I A L L Y M A N U F A C T U R E D , &c.—Continued.
1885.
1886.
Bi
Bi'
Articles.
Duty.
Value.
Value.
Duty. *
go
<12
Dutiable—Contmued.
Oils:
A n i m a l : Cod-liver, neat's-foot,
s(ial, wbale, a n d fish
M i n e r a l : N a p h t h a , benzine,
and petroleum, orude
V e g e t a b l e , fixed or e x p r e s s e d :
X a s or, croton, flax seed,
h e m p seed, r a p e seed, n u t ,
olive, n o t salad, a n d o t h e r
n o t e l s e w h e r e specified
V e g e t a b l e , v o l a t i l e o r essential : B a y leaves, cognac,
f r u i t e t h e r s , fusel oil, &c -...
T o t a l oils
P a i n t s a n d colors
P l a s t e r of P a r i s , g r o u n d or calcined
Silk : F l o s s s i l k i n t h e g u m , a n d
s p u n silk
Umbrella and parasol ribs and
s t r e t c h e r s , frames, t i p s , &c
Wood, manufactures of:
B o a r d s , pl;inks, deals, & c
.
Clapboards
'.
Staves
C a b i n e t . or lion.se f u r n i t u r e ,
n o t finished; osier p r e p a r e d
0 ^ for us.^, a u d r a t t a n s a n d
reeds
".
T o t a l wood &c
Wools, m a n u f a c t u e r s of: Y a r n s ,
woolen a n d w o r s t e d
Zinc, s p e l t e r o r t u t e n e g u e : I n
sheets
....
.. . . . .
All other dutiable articles
Total dutiable
Dollars.
90, 028
Dollars.
22, 507
P r . ct.
25. 00
Dollars.
90,723
Dollars.
22, 681
23,112
3,911
16. 92
16, 031
3,196
19.94
230, 663
67, 845
29.41
325,152
90,535
27.92*
74, 930
19,121
25.52
90, 006
22, 7G9
25. 40*
418, 733
113,384
27.08
521, 912
139,181
26. 73*
1,140,805
• 54,208
368,43910, 842
32.30
20. 00
1, 270,224
37, 642
419,963
7,528
33. 08*
20. 00
246, 672
6,189,781
41, 827
253,703
•
72,314
29.31
446,178
133, 794
29.99
22,990
34.89
71, 792
24, 800
34.54
971, 327
4,555
25, 370
15.69
10.89
10.00
5, 639, 813
59, 390
269, 961
917, 394
5,889
26,996
16; 27
9.92
10.00
149, 340
19, 789
13.25
167, 971
19,477
11.60
6, 634, 651
1, 021, 041
15.39
6,137,135
969, 756
15, 80
676, 512
468,462
69.23
2,283,176
1, 565, 569
68. 57
64, 782
83,471
45, 996
16, 847
7L00
20.18
38, 359
116, 542
25,949
20,794
67.65
17. 8 i
61, 271,465
17, 088,148
27.89
67, 855, 317
20,115,152
29. 68*
^
.,.
Total Class C
.
64,409
Recapitulation.
T o t a l free of d u t v
Total dutiable
P r . et.
25.00
'.
11,185, 487
61,271,465
17, 088,148
27.89
10,689,156
67, 855, 317
20,115,152
29 68*
72,456,952
17, 088,148
23.56
78, 544, 473
20,115,152
25. 64*
CLASS D . - M A N U F A C T U R E D ARTICLES, READY FOR CONSUMPTION.
Free of duty.
Articles specially imported—
For the use of tbe United
States
1.
Philosophical and scientific appar.-^tus, &c., for the use of
any religious or scientific institution, and not intended
for sale
Articles, the growth, produce, pr
manufacture of the United
Statea, returned
^
Bolting cloths
Books and other printed matter,
not elsewbere specified , ,
Dollars.
75,610
Dollars.
P r . ct.
Dollars.
18,619
89,893
I, 360,785
290, 854
7,715,562
232,769
791, 799
8, 525
805,3S4
^ §§e »ote QU page |
Dollars.
Pr.cL
27
EEPOET OF THE SECEETAEY OF THE TEEASUEY.
Value of imported merchandise entered for consumption, 4'C.—Continned.
CLASS D . — M A N U F A C T U R E D ARTICLES, READY FOR CONSUMPTION—Continued.
1886.
1885.
B >^
Articles.
Value.
Duty.
Jl
Duty.
Value.
ft
F r e e of d u t y — C o n t m u e d .
G o l d - b e a t e r s ' m o l d s a n d gold-beaters' skins
Gold size
Hones and whetstones
H o u s e h o l d effects, &c., of p e r s o n s
arriving in t h e United States
a n d of citizens of t h e U n i t e d
Dollars.
25,743
3,179
21, 434
I n d i a n goods
Manuscrints
M o d e l s of i n v e n t i o n s &c
Paste, oxydizing
P l a t i n a v a s e s , &c., for c h e m i c a l
uses
. . .
Skeletons aud other preparations
of a n a t o m y
.:
S p u r s and stilts, used in t h e manu f a c t u r e of e a r t h e n , stone, a n d
2, 496,411
3,197
6,805
2,785
17, 473
83, 752
P r . ct.
8,791
619
471
.^44, 754
a]87 726
739, 089
&185, 574
10, 617.405
12,446,211
82, 892
C o r k s , a n d corli-bark, m a n u f a c t ured
Corsets
-
Total cotton m a n u f a c t u r e s . .
2,167, 556
1,283
7,216
17, 984
Dollars.
;
Dutiable.
Blacking..
Books, e n g r a v i n g s , a n d o t h e r
printed matter, bound or unbound
B r a s s , m a n u f a c t u r e s of ,
Brooms
Brushes
B u t t o n s and b u t t o n molds
Candles and tapers
C a r r i a g e s , a n d p a r t s of.
Chemicals, d r u g s , d y e s , &c., n o t
j elsewhere specitied: Preparations, medicinal a n d proprie* tary
:
C l o c k s a n d w a t c h e s , a n d p a r t s of.
C o p p e r , m a n u f a c t u r e s ot^ n o t else-
K n i t goods: Shirts a n d drawers aud hosierv . . . . . . .
All other
Dollars.
22, 578
7,303
18,161
P r . ct.
6,670
W o o d : Fire-wood, hop-poles, a n d
railroad ties
:
^.
A l l o t h e r free a r t i c l e s
C o t t o n , m a n u f a c t u r e s of:
T h r e a d o n spools
ClotbN o t e x c e e d i n g 100 t h r e a d s
to t h e square inch
E x c e e d i n g 100 a n d n o t exc e e d i n g 200 t h r e a d s t o
the square inch .
E x c e e d i n g 200 t h r e a d s t o
t h e s q u a r e inch
V e l v e t s , velveteens,- & c . ;
Clothing, r e a d y - m a d e , a n d
other wearing apparel
Cords, b r a i d s , g i m p s , galloons.
Dollars.
,
.
20, 723
25.00
87,281
25. o'o
;i
'
21,820
25.00
2, 327, 254
400,175
1,686
465, 639
2, 330, 752
18, 087
243,259
581, 800
180, 079
422
139, 692
582, 688
3,617
85,141
45.00
25.00
30.00
25.00
20.00
35.00
2, 516,773
363,934
3,629
522, 210
3, 364, 339
18, 810
256, 367
.629,192
163, 770
907
156, 663
841,085
3,762
89,728
25. 00
45.00
25.00
30.00
25.00
20.00
35.00
305, 001
1, 515, 945
124, 516
398.038
40.48
26.26
348,911
1, 362, 541
143, 503
356, 505
4L13
26.16
61, 023
27, 461
45.00
19, 093
8, 592
45.00
147,132
893, Oil
36, 783
312, 554
2.5. 00
35.00
176, 679
9.57, 256
41,170
• 335,040
25. 00
35.00
85,877
44, 018
51.26
78, 394
43,298
55.23
141,576
86, 531
61.12
170, 367
124, 304
72.96
1,498,383
696,, 960
46.51
2,100,735
952, 540
45.34
2, 324, 768
960, 885
1, 051, 898
1, 459, 569
2,194, 552
624, 951
877, 821
42.82
40.00
2, 629, 746
41.33
40.00
122, 870
35.00
413,882
144, 859
35.00
351,086
35.00
724, 209
253,473
35.00
6, 814,226
3, 209,467
2.675.729
i;173/285
39,27
36. 87
17,165,401
6, 870. 260
40.02
215, 977
2, 451, 494
0, 234, 761 ' 1,130,565
3, 065, 047
16, 948, 320
6, 761,198
617, 076
39.32
36; 88
39.88
•
aincludes $150,261, tho valao of gu!>^5trillg3; $2:3,208, the value of glacier's diamonds, aud $10,380,
the value of parchment and vellum.
^18,478, t'lie YciUie of pa^i'€liweii<j m'^ v^Uum^
28
REPORT OF THE SECRETARY OP THE TREASURY.
Value of imported merchandise-entered for-consumption, ^c—Continued.
CLASS D . - M A N U F A C T U R E D ARTICLES, R E A D Y FOR CONSUMPTION—Continued.
1896.
1885.
It
Articles.
Value.
Duty.
Duty.
Value.
*
> o
is
i)M«ia6?tf—Continued.
E a r t h e n , stone, a n d china w a r e :
B r i c k a n d tiles
Earthen, stone, and c h i n a w a r e
Dmars. .
158,092
4,685,014
. Total earthern, stone, a n d
china ware
4,843,106
E l e c t r i c l i g h t s a n d p a r t s of
F e a t h e r beds
F e l t for roofing
Flax, hemp, j u t e , a n d other veget a b l e g r a s s e s , m a l n u f a c t u r e s of:
Baggiuff for c o t t o n
Bags and bagging
B r o w n a n d bleached linens,
d u c k , c a n v a s , &c
Burlaps
C a r p e t i n g of h e m p or- j u t e ,
^and g r a s s cloth
Oil-cloths for floors
Sail d u c k a n d s h e e t i n g s
Seines
Thread,twine,and packthread
Cables a n d cordage
All other
T o t a l flax, h e m p , &c., m a n ufactures
F u r s , m a n u f a c t u r e s of
Glass a n d glassware:
Plate glass
W i n d o w glass, cylinder a n d
crown
A l l otlier
Total glass and g l a s s w a r e . . .
Gunpowder, fulminates, a n d percussion caps
H a i r , m a n u f a c t u r e s of
H a t s , b o n n e t s , a n d hoods, of g r a s s ,
s t r a w , willoAv, & c
India-rubber and gutta-percha,
m a n u f a c t u r e s of
I n k s and ink powders
I r o n a n d steel, m a n u f a c t u r e s t)f:
Axles, axle-bars, a n d p a r t s
tbereof, a n d a n v i l s
B a r s o r r a i l s for r a i l w a y s —
T e e r a i l s , iron
'.
O t h e r r a i l s , i r o n o r eteel,
or i n p a r t of s t e e l . . I
Cast-iron pipes, cast-iron vessels, p l a t e s ,
stove-plates,
andirons, sad irons, hatter's
i r o n s , a n d all c a s t i n g s n o t
e l s e w b e r e specified, a n d
malleable iron castings
Chain or chains
Cotton ties
C u t l e r y : Penknives, pocketknives, razors, sword-blades,
and cutlery n o t elsewhere
specified
F i l e s , file-blanks, r a s p s , a n d
floats ..=.....,,r,-,,,P
Dollars.
150,972
4,841, 243
Dollars.
31. 352
2,798,188
Pr.ct.
20.76
57.80
56.40
4, 992, 215
2,829,540
56.68
• 1,691
. 68
379
20.00
20.00
20.00
D o l l a r s . , P r . ct.
33,165 20.98
2.698,490 57.60
2,731, 655
10,078
220
407
2,016
44
81
20.00
20.00
20; 00
8,454
339
1,893
10,127
1,166,288
3,602
466, 515
36.36
40.00
21, 301
1,176, 823
11, 515
470, 729
54.06
40.00
12,159, 892
3,921,004
4, 255,962
1, 225,211
35.00
3L25
13, 206, 052
3,166, 941
4.622,118
998, 878
35.00
3L54
92, 806
194,102
37,10,6
24,115
637, 857
76,753
622, 855
20, 061
77, 641
11'; 427
6,029
255,143
19, 465
222, 363
21.62
40.00
30.88
25.00
40.00
25.36
35.70
149,189
275, 869
17, 907
6,173
757, 675
102,217
504, 059
38, 073
110, 348
5,516
1,543
303, 070
27,452
179, 559
25.52
40.00
30.80
25.00
40. 00
26.86
35.62
18, 942, 905
6, 563, 419
34.65
19, 384, 206
6, 768, 801
34.92
187, 655
56,297
30.00
170,148
51, 044
80.00
2, 22J, 737
..0
1,202,638
54.57
2, 535, 240
1, 298, 314
5L21
1,723,256
2, 392, 728
1, 299, 340
1, 031, 273
75.40
43.14
1, 389, 683
2,416,135
1,186,197
1, 210, 413
85.36
50.10*
6, 340, 721
3, 533, 251
55.72
6,341,058
3, 694, 924
55. 40-*
120, 380
62, 551
45, 962
21,132
38.18
33.94
106, 754
40, 818
41, 227
13,911
38.62
34.08
511, 340
153,402
30.00
482, 640
144,792
30.00
218,452
125,552
62, 967
37, 666
28. 82
30.00
231, 877
123, 022
67, 357
36, 907
29.05
30.00
97,062
35,349
36.42
9,746
7,237
74.26
•
76, 039
26,306
35.57
247,231
131,230
53.08
265,132
172, 504
65.06
18, 789
67, 913
464, 985
6,750
31,462
.162, 745
35.97
46.32
35.00
12,332
67,989
603,394
3,590
31, 077
211,188
29.11
45.71
35.00
1, 448, 759
664,827
45.88
J, 692, 091
783,394
46.30
49, 654
27,625
55,6?
48,054
26,755
55.68
*See»otepn|)a^e^O,
REPORT OF THE SECRETARY OF THE TREASURY.
29
Value o f imported merchandise entered f o r consumption, 4'C.—Continuecl.
CLASS D . - M A N U F AC TURED ARTICLES, R E A D Y FOR CONSUMPTION—Continued.
1885. <
1886.
it
Articles.
Value.
Duty.
Duty.
Value.
<^2
J)w«ia6Ze—Continued.
I r o n a n d steel, & c . — C o n t i n u e d .
Fire-arms
Hollow-ware, nails, spikes,
tacks, and brads
Needles
N u t s and washers, railway
fish-plates, r i v e t s , b o l t s , a n d
hinges, or hinge blanks
Saws
S c r e w s for w o o d
All other manufacturesof iron
and steel
T o t a l i r o n a n d steel, «feo.. .
L e a d : Shot, a n d m a n u f a c t u r e s
of, n o t e l s e w h e r e specified
L e a t h e r : Gloves, a n d other manu f a c t u r e s of l e a t h e r
Marble, slate, a n d stone, manuf a c t u r e s of
J
Matches
M a t t i n g a n d m a t s for floors, of
vegetable substances
Metals, m e t a l compositions, a n d
m a n u f a c t u r e s of, n o t e l s e w h e r e
specified:
B r o n z e , m a n u f a c t u r e s of
..
Britannia and j a p a n n e d wares,
p e n s , p i n s , p l a t e d a n d gilo
wares, p e u tips and p e n
holders, germansilver,.pewter,
platina, . stereotype
plates, types, a n d all other
n o t e l s w h e r e specified
Mineral substances, not elsewhere
specified:
Agates, asbestos, a n d plumb a g o , m a n u f a c t u r e s of
P a l m leaf, m a n u f a c t u r e s of
P a p e r , a n d m a n u f a c t u r e s of, n o t
e l s e w h e r e specified
.
Pencils, lead
Philosophical a p p a r a t u s a n d instruments
.
-.
.........
S a d d l e r y , coach, a n d h a r n e s s h a r d ware. &c
S i l k : S e w i n g silk, i n t h e g u m ,
and twist
.
Soap . . . . . . . . . . . . . . . . . . .
.....
Sponges
1
Starch
S t r a w , m a n u f a c t u r e s of
T i n , m a n u f a c t u r e s of
T o o t h p i c k s , Quill
.. . ........
Umbrellas, parasols, a n d shades . .
Varnishes
"Wax, a n d m a n u f a c t u r e s of
W h a l e b o n e , m a n u f a c t u r e s of
P r . ct.
31.33
DoUars.
1,118,777
Dollars.
339,684
P r . ct
30.36
Dollars.
914,519
Dollars.
286,537
8,129
338,390
5,680
84,973
69.66
25.20
4,021
327,742
2,832
82,635
70.43
25.21
10,516
16,497
2,725
6,202
5,809
908
58. 97
35.20
•33.32
3, 381
20, 623
2, 214
1,706
7,609
696
50.46
36.90
31.44
2,184,131
1,004,489
45.90
2,367,531
1,146, 281
48.44*
6, 052, 535
2,498, 690
41.28
6,435,831
2,799,390
43. 51-*
1,372
617
44.97
1,698
764
45.00
3, 544, 802
1,672,010
44.36
4,126,429
1, 996, 612
48. 39
123,961
106, 395
47,175
37, 238
38.06
35.00
102,596
34,187
37,153
11, 966
36.21
35.00
517,867
103, 573
20.00
462,627
92, 525
294,834
132,675 • 45.00
203,365
91, 514
20.00
45.00
1,117, 646
466,417
4L73
1,330,842
560, 40
42.10
652
2,522
143
666
20.00
26.40
705
110
176
33
24.96
30.00
1, 585, 331
111, 810
344, 885
50,476
21.76
45.15
1,799,440
129,254
389,427
62,034
21.64
47.99
18, 212
3,906
6,'374
1,953
35.00
50.00
23, 523
4,288
8,233
2,144
35.00
50.00
144,303
50, 506
35. 00
141,516
49, 531
35.00
10,830
404,588
235, 519
15,192
38,154
51,848
19,724
45,432
73,242
27,884
1,144
3,248
103,661
, 47,104
12,556
11,297
72, 918
3, 945
21,723
31,543
5,577
343^
33.00
25.62
20.00
82.65
29.62
a45. 00
20.00
47.81
43.07
20.00
30.00
2,684
435, 874
296,963
11, 0G6
51,080
40,293
16,684
55,748
102,045
9,178
2,069
'
F05 30. 00
116, 280 26.66
59, 393 20. 00
8,801 79.54
15,122 29.60
54,771 a4.5. 00
3, 337 .20. 00
26,048 46.72
45,330 44.42
1,836 20.00
621 30.00
* See note on page 20.
a Amount of duty on cans containing free fish is excluded from computation of ad valorem rate of
duty, for the reason tbat the value of the cans is not returned under " Tin manufactures, " b u t is included, with the value of the contents, under " Free fish."
30
REPORT OF THE SECRETARY OP THE TREASURY.
Value of imported mer chandise entered for-consumption, \4'C.—Continued.
CLASS D.—MANUFACTURED'ARTICLES, READY FOR CONSUMPTION—Continued.
1886.
1885'.
Articles.
2d
Value.
Duty.
is
Value.
Duty.
^1
Dutiable—Continued.
W o o d , m a n u f a c t u r e s of:
C a b i n e t w a r e s , finished
Laths, pickets, and palings..
Sbino-les
Osier a n d willow b a s k e t s a n d
wares
o
A l l m a n u f a c t u r e s of, n o t elsew h e r e specified
T o t a l wood m a n u f a c t u r e s . . .
W o o l , m a n u f a c t u r e s of:
Balmorals
•..
Blankets
Bunting
.....
........ .
Carpets and carpeting . . . .
Clothing, ready-made, a n d
wearing apparel
C l o t h s , woolen
D r e s s goods, w o m e n ' s a n d child r e n ' s , c o a t linings, a n d I t a l i a n c l o t h s of e v e r y description
.
E n d l e s s b e l t s o r felts
Flannels
H a t s of wool
K n i t goods : H o s i e r y , s h i r t s ,
d r a w e i ' s &c.
Shawls woolen
Webbings, gorings, suspenders, & c
'
A l l o t h e r , n o t e l s e w h e r e specified
T o t a l woolen m a n u f a c t u r e s .
Zinc, s p e l t e r , a n d t u t e n e g u e :
M a n u f a c t u r e s of, n o t elsew b e r e specified
All other dutiable articles
Total dutiable
:.
Dollars.
265,928
2.50, 846
158,043
P r . ct.
Dollars.
93, 075 35.00
33,427 13.33
24, 414 15.45
Dollars.
306,'066
260, 074
171, 523
Dollars.
P r . ct.
107,123
35.00
35, 300
13. 57
27, 685
16.14
202, 663,
60, 799
30.00
238, 380
71,514
30.00
628, 967
216,564
34.43
570,171
194, 226
34.06
1, 506,447
428,279
28.43
1,546, 214
435, 848
28.19
77
2,869
8'
1,173,252
59
1, 987
4
. 575,065
76.18
69.26
51.25
49.07
3,853
6, 558
52
1, 329, 341
2, 238
4,544
40
659, 875
58.09
69.28
77.31
49.64
1, 803,701
10, 080,981
1,226,610
6, 826,672
68. 01
67.72
1,422, 660
• 9,464, 358
909, 248
6,563,415
63.91
69. 35
14,197,987
139, 607
67,123
2, 364
10,110,851
72, 263
47, 5.^.1
1,154 •
71.21
51.76
70.81
48.84
14, 971, 278 10,744,114
67, 269
127, 956
34, 589
47,903 c
7, 853
12, 331
71.70
52.57
72.21
63.69
2,.113, 952
1, 057, 865
1,241,729
616, 674
58. 73
58.29
470, 897
315, 343
66.97
4,065, 988
2, 711, 029
66.68
23,747,571
67.51
37, 333, 563
2,054
924'
45. 00
10, 650
4,793
45.09
71,744
20, 645
28.01
67, 474
20,181
30.00
108,410,164
52, 387, 336^. 48.28
113, 824, 644
55,653,853
48.90
10, 617,405
108,410,164
52, 387, 336
48.28
12,446,211
113, 824, 644
55, 653, 853
48.90
119, 027, 569
52, 387, 336
43.99
126, 270, 855
55, 653, 853
44.08
35,176, 671
1, 930, 389
1, 043, 927
.
1,170, 034
648,184
60 61
62.09
616, 874
427, 876
69:36
6, 356, 083
4, 204, 028
66.14
25,443, 307
68.15
Recapitulation.
T o t a l free of d u t y
Total dutiable
.
........
Total Class D
CLASS E.—ARTlCLES OF VOLUNTARY USE. LUXURIES, E T C
Free of duty.
Amber beads
- .•. —
Articles specially imported: Regalia, gems, specimens of natural history, works of art, &c.,
specially imported and not intended iov sale
Artworks, not elewherespecified,
the produc Lion of American
artists
Cabinet of coins, medals. &c
Curling stones, or quoits
Diamonds, rough or uncut
—
Fans, common palm-leaf
Dollars.
3,242
Dollars.
Pr. ct.
Dollars.
5, 665
519,674
351,818
8,511
448
383, 205
31, 278
367, 037
28,100
1, 432
311,771
25, 936
Dollars.
Pr. ct.
REPORT OP THE SECRETARY OP THE TREASURY.
31
Value of imported merchandise entered for consumptiony4'^'—Continuecl.
CLASS E.—ARTICLES OF VOLUNTARY USE, LUXURIES, ETC.-Continued.
1886.
1885.
Articles.
Value.
Duty.
IS
Value.
51
F r e e of d u t y ^ C o n t i n u e d .
Dollars.
397, 875
a345, 553
M i n e r a l w a t e r s n o t artificial
A l l o t b e r free a r t i c l e s
T o t a l ' f r e e of d u t y
Dollars.
P r . ct.
Duty.
Dollars.
358,595
&807,155
Dollars.
P r . ct.
2,204,725
2,041, 604
Dutiable.
A r t - w o r k s , n o t e l s e w h e r e specified : P a i n t i n g s a n d s t a t u a r y . . .
Cider
'.
Cotton embroideries
Fancy articles:
Dolls a n d t o y s
F a n s , e x c e p t palm-leaf
;
F e a t h e r s , n o t artificial
F e a t h e r s a n d flowers, artificial
and ornamental
P e r f u m e r y a n d cosmetics
All other
T o t a l fancy articles
F i r e craickers . . I
:
F l a x , h e m p ; j u t e , «fcc.: L a c e s a n d
insertings
..
G i n g e r ale, o r g i n g e r b e e r
C o l d a n d silver, m a n u f a c t u r e s of,
n o t e l s e w h e r e specified
H a i r , h u m a n : B r a c e l e t s , c u r l s , &c.
Jet, manufactures and imitations
of
..
J e w e l r y and precious stores, not
e l s e w h e r e specified . . . . .
Total liquors and wines
Silk, m a n u f a c t u r e s of:
B r a i d s , fringes, galloons, b u t tons and ornaments
D r e s s a n d p i e c e goods
Handkercbiefs, bats, caps,
bonnets, and hosiery
Laees
Ready-made clothing
Ribbons
Velvets
All o t h e r
...
T o t a l silk
302,230
118
3,841,798
30.00
20.00
40.00
916,777
1,467
11, 365, 602
275,033
293
4, 546, 241
30.00
20.00
40.00
1,439,418
376,807
1, 829, 574
503,796
131,883
539,854
35.00
35. 00
29.57
1,401, 719
436, 358
1,487,404
490. 601
152,725
505,844
35. 00
35. 00
34.01
410,166
366, 339
1, 027, 071
205, 083
235, 004
464, 282
50.00
64.15
45.19
491, 535
368, 628
1,784,736
245,768
243, 627
817, 834
50.00
66.40*
46.77
5,449, 375
2, 079,902
38.17 •
5, 934, 380
2,456,399
41. 40*
237, 777
L i q u o r s , s p i r i t u o u s a n d malt, a n d
wines:
Malt liquors .
Spirits, distilled
Champagne and other sparkl i n g w i n e s •..'.
Still w i n e s . . \
W i n e flavoring
M i n e r a l w a t e r s , artificial
Musical instruments
P a p e r , m a n u f a c t u r e s of, n o t elsew h e r e specified : C a r d s for playing
Photographs
Prune wine
^ .
1,007,548
589
9,604,496
237, 777 100. 00
249, 547 100.00
1,164, 289
146,713
349,287
29, 343
30.00
20.00
1,159, 324
147, 693
347, 797
29, 539
30.00
20.00
636, 386
1, 545
167, 651
541
26.34
35.00
607, 063
2, 998
166, 877
1,049
27.44
35.00
15, 545
3,886
25. 00
40,761
10,190
25.00
6,114,361
682,232
11.16
8,367,838
900,474
10.76
1,111,407
1, 873, 927
546, 999 49.22
3,124, 588 166.73
1, 206, 257
1, 826, 059
585,102 48 52
2, 834, 696 155. 56*
2, 810, 892
3, 529, 522
1, 597, 998
2,067, 795
56.85
58.59
3, 002, 400
3,751,072
80
1,59.5,-831
2,178, 518
16
9,325,748
7, 337, 380
78.68
9, 785, 868
7,194,163
73.58
5,071
358, 094
30.00
25. 00
'i
.
249,547
2,157
1,427,746
1, 518
30,751
21, 385
777, 659
15, 930, 745
647
356, 937
30.00
25.00
16, 903
1, 432, 376
1,518 100. 00
7,686 24.96
4, 277 20.00
3,043
28,565
24, 807
53. 20*
58.10*
20. 00
3,043 100.00
7,141 25 00
4, 945 20 00*
388, 829
7, 965, 372
50.00
50.00
769, 371
14,414,. 022
384, 686
7, 207, Oil
50 00
50.00
1, 252, 213
626,107
fifiii 04fi
1, 730, 092
611,115 1
.^05 ii.'^R
556, 046
1,112,093
3,422, 223
1,711,111
3, 013,156
1, 506, 578
50.00
50.00
50. 00
50.00
50.00
50.00
1, 245,144
2, 007, 619
561, 506
1, 381, 458
4,171, 556
3, 056, 317
622, 572
1, 003, 810
280,753
690,729
2, 085, 778
1, 528,1.59
50.00
50.00
50.00
50.00
50 00
50 00
50.00
27, 606, 993
13,803.498
50.00
27, 849, 296
13, 924, 647
* See note on page 20.
aincludes $345,076, the value of domestic spirits, and $477, the value of domestic tobacco, returned.
& Includes $805,685, tbe value of domestic spirits, and $1,470, tbe value of domestic tobacco, returned.
32
REPORT OF THE SECRETARY OF THE TREASURY.
Value of imported merchandise entered for consumption, ^'c.—Continued.
CLASSE.—ARTICLES OF VOLUNTARY USE, L U X U R I E S , ETC.—Continued.
1886.
1885.
a^
ABTICLES.
Duty.
Value.
Duty.
Valne.
• Dutiable—Continued'
Sugar candy and confectionery . .
Tobacco, and manufactures of
Total dutiable
Dollars.
19,133
9,121,869
Dollars. Pr.ct.
9,604 50.19
7,356,309 80.05
Dollars. Pr. ct.
12,025 51.84
8, 311,114 80.57
Dollars.
23,195
10,315,311
38, 682,533
49. 58*
72,178, 227
36, 693;>830
50.84
78,030,511
2, 041,604
72,178,^227
36,693,830
50.84
2,204,725
78, 030, 511 38, 682, 533 49.58*
74,219,831
36,693,830
49.44
80,235,236
Recapitulation.
Total free of duty
Total dutiable
To'tal Class E
38,682,533
48.22*
EECAPITULATION OF CLASSES.
1885.
Value of—
Classes.
(A). Articles of food, and live animals
(B) Articles in a crude condition, which
enter into the various processes of
domestic industry
(C) Articles wholly or partially manufactured, for use as materials in the
manufactures and mechanic arts . .
(D) Articles manufactured, ready for consumption..
(E) Articles of voluntary use, luxuries, &c.
Total
Duty.
Free of
duty.
Dutiable.
Dollars.
.86, 559,991
Dollars.
107, 706,369
Dollars.
61, 695,247
82,507,747
37,101, 595
9,454,989
afl
go®
.2 3
c3 p3
So
Per ct. Per ct.
34.75
57.28
25.48
11,185,487
61, 271,465
17,088,148
27.89
9.64
10,617,405
2, 041,604
108,410,164
72,178, 227
52,387,336
36,693,830
48.28
60.84
29.54
20.74
192,912,234
386,667,820
177,319,550
45.86
100.00
83,752, 303
112,453,925
61,064,744
54.37
32.42
102,438,364
41, 613,658
12,863,115
30.91
6.83
10, 689,156
67,855,317
20,115,152
29.68
10.68
12,446,211
2, 204,725
113, 824,644
78, 030, 511
55,653,853
38, 682,533
48.90
49. 58
29.54
20.53
211,530, 759
413,778,055
188,379,397
45.55
100.00
1886.
(A) Articles of food, and live animals
(B) Articles in a crude condition, which
enter into tho various processes of
domestic industry
(C) Articles wholly or partially manufactured, for use as materials in the
manufactures and mechanic arts
(D) Articles inanufactured, ready for consumption
(E) Articles of voluntary use, luxuries, Sec.
Total
" See note on page 20.
REPOET OP THE SECEETAEY OF THE TEEASUEY.
33
Value of imported merchandise entered f o r consumption, ^ c . — C o n t i n u e d .
RECAPITULATION OF CLASSBS—Continued.
Average for the teven years, 1880-1886.
a^
Value of—
Classes.
(A) Articles of food and live animals
(B) Articles in a crude condition which
enter into the various processes of
domestic industry
(C) Articles wholly or partiaUy manufactured, for use as materials in the
manufactures and mechanic a r t s . . . .
(D) Articles manufactured, ready for consumption
-.
(E) Articles of voluntary use, luxuries, «fccTotal
Duty.
Free of
duty.
Dutiable.
Dollars.
86,388,648
Dollars.
124,360,212
DoUars.
59,261, 530
96,346, 569
50,072, 656
14,820,890
29.60
Per ct. Per ct
30.58
47.65
11,496,109
65,968,213
19, 296, 892
29.25
10,586,128
1,463,277
128,570,506
77,264,702
61,164, 950
39, 283, 950
47.57
50.83
206,280,731
446,245, 239
193,828,212
7.65
3L56
20.26
100.00
WM. F. SWITZLER,
Chief of^ Bureau.
34
REPORT OF THE SECRETARY OF THE TREASURY.
APPENDIX F.
REVENUE FROM TAXES FOR 1886.
Statement shoiuing the receipts of the United States Government from the following sources
during the year ending June 30, 1886.
Sources.
Revenuet,
INTOXICANTS :
Distilled spirits (inland)
Distilled spirits (customs)
. Fermented liquors (inland)
Fermented liquors (customs)
Wines (customs)
Ginger ale or ginger beer (customs)
$69,092,266 00
2,834,696 25
19,676,73129
585,102 26
3,774,348 93
29, 538 66
^
SUGAR, MOLASSES, AND CONFECTIONERY
TOBACCO :
(Inland)
$27,907,362 53
Leaf (customs)
Manufactures of (customs)
WOOL, MANUFACTURES OF
R A W MATERIALS :
Food:
Fruits, including nuts
Rice
Breadstuffs
Animals
Salt
Vegetables
Fish
Provisions, comprising meat and dairy products
Cocoa, prepared
7
Other raw materials:
Wool, r a w . . .
Flax, hemp, jute, sisal grass, &o
Coal, bituminous.
Iron ore
Seeds
Chemicals, drugs, dyes, and misdicines .
Hops
Bristles '
Copper, ore
;
Zinc, and manufactures of
Clays or earths
-.
Malt, barley
All other crude, n. e. s
G-rease
Mineral substances, n. e. s.
Wood
Oils, whale and fish
$95, 992, 683 3©
51, 778,948 34
4,905,118 02
3,405, 996 43
.,
36, 218, 476 98
27,278,527 54
t
498, 569 39
184,138 24
042, 404 08
326, 822 76
706, 324 54
637, .545 67
502,287 54
478, 969 67
7,157 55
8, 384, 219 44
5,126,108 35
1,841,726 24
581, 099 98
532, 956 26
404,757 87
351,193 11
217, 917 68
149, 981 63
103, 096 07
88, 889 97
71, 986 93
64, 618 20
59, 392 57
50, 028 57
49,172 88
14,430 54
5, 570 22
5, 054 00
18, 490, 914 66
ARTICLES, MOSTLY OF CLASSES C, D, B, (see APPENDIX E ) :
Iron and steel, manufactures of:
Class B
Class C
Class D
Silk, manufactures of:
Class C
:
Class D
Class E
Cotton, manufactures of:
Class B
ClaasC.
Class D
Class E
2,798,716 00
8,500,813 49
2,799,390 00
14,098,919 A9
133,794 00
805 00
13,803,497 61
13,938.096 01
27 00
335,678 00
6.870,260 49
4,546,241 40
11,752,206 89
REPORT OF THE SECRETARY OF THE TREASURY.
35
REVENUE FROM TAXES FOR 1886—Continued.
Beceipts of the United States Government, ^-c.—Continued.
Sources.
Revenue.
Flax, manufactures of:
Class C
Class D
Class E
$289,492 00
6, 768, 800 43
347, 797 43
Chemicals, drugs, dyes, and medicines:
Class A
ClassB
Class C
Classi)
Class E
7, 523 00
32,173 00
I, 808,146 49
143, 503 45
5, 087 00
$7,406,089 86
Glass and glassware
Leather, and manufactures df:
Class U
Class D
D.,
Earthen, stone, and chinaware
Fancy articles.
Wood, and manufactures of:
ClassB
Class C
Class D
^...<L
D.
E..
3,996,432 94
3, 694, 923 69
$1,265,620 40
1,996,612 47
3,262,232 87
2,829,539 75
2,456,398 59
$12,128 00
969, 756 00
435,847 22
-
1,417,731 22
T A X E S ON KNOWLEDGE, LITERATURE, ART, ETC.:
Books
Maps
Engravings
Art woiks:
Paintings
Statuary
Musical instruments
^
'
D.
D.
D.
533,478 05
3, 602 75
92,105 00
E.
E.
E.
248, 328 75
26,704 41
358, 093 87
1,262,312 83
Hats, bonnets, and hoods, and materials for:
Class C
ClassD---
883, 299 85
144, 792 01
Jewelry and x)recious stones
Buttons and button materials:
Class C
ClassD
1, 028, 091 86
900,474 36
E.
$47,921 10
841,084 70
889. 005 80
F I N E S , PENALTIES, FORFEITURES, AND MISCELLANEOUS RECEIPTS :
Frora
From
Frora
From
From
From
laboT', drayage, and storage
service of IJnited States ofiicers
customs officers' fees
weighin.g fees
fines, penalties, and forfeitures
emolument fees
•
,
67, 693
240, 753
307, 651
113, 397
128, 843
22, 939
24
17
76
96
58
05
881, 278 76
ARTICLES MOSTLY OF CLASSES C, D, E—Continued.
Furs and mauufactures of:
Class C
ClassD
804,685 60
51, 044 39
Metals, metal compositions, and manufactures of:
ClassB
Class C
Class D
-..
42, 375 00
77, 758 00
651, 753 42
855,729 99
771,886 42
508, 731 77
Tonnage tax on vessels engaged in the foreign trade .
ARTICLES MOSTLY OF CLASSES C, D, E—Continued.
Paints and colors
Animals, other tban for food
Paper and manufactures of:
Class D
ClassE
419,962 66
395, 871 80
$389,426 69
3,043 08
392, 469 77
Marble and stone, and manufactures of:
ClassB
ClassC .-ClassD
Clocks and watches, and parts of
(Corsets and corset cloth
Tax on seal-skins and income from rental of seal islands
2i4, 780 00
87, 025 00
37,152 70
D.
D.
368,
356,
335,
318,
957
504
039
489
70
72
60
50
36
REPORT OF THE SECRETARY OF THE TREASURY.
REVENUE FROM TAXES FOR 1886—Continued.
Beceipts of the United States Government, 4^^.—Continued.
Sources.
Revenue.
ARTICLES MOSTLY OF CLASSES C, D, B—Continued.
Gunpowder and all explosive substances:
(jlass D
ClassE
Oils, mineral and vegetable:
Class A
ClassC
$41,226 90
249, 547 36
$290,774 26
139,461 80
139,181 61
278, 643 41
226,509 62
Miscellaneous penalties (intemal revenue)
ARTICLES MOSTLY OF CLASS C, D, E—Continued.
Lead and manufactures of:
Class B
ClassC
ClassD
$220,460 52
722 61
764 24
221, 947 37
184, 350 72
Hay
Gold and silver, manufactures of:
ClassC
ClassD
ClassE
$699 00
398 60
166,478 26
Brass, and manufactures of:
ClassB
ClassD
2, 632 01
163, 770 42
167, 575 86
Brushes of all kinds
Cement, Roman, Portland, and aU other
'.
Soap.
Matting and mats for
floors
?.
Carriages, and parts of
Glue
Chicory root, ground or unground, burnt or prepared.
Hair, and manufactures of:
Class B
ClassC...
ClassD
ClassE
India-rubber and gutta percha, manufactures of
Spices, ground
Pencils
Tin, manufactures of
166,402 43
156,662 88
146,878 91
116, 280 33
92,525 41
89,728 45
86,743 75
80,922 18
D.
C.
D.
D.
,.C.
$27,618 20
25,515 04
13,911 47
1, 049 30
68, 094 01
67, 356 79
66,121 43
62, 033 51
54, 770 54
D.
A.
D.
D.
Umbrellas, parasols, shades, and parts of:
CLJSSC
$24,800 10
26, 047 95
ClassD
Saddlery, coach and harness hardware
Vamish
Cork, manufactures of
I n k of all kinds, and ink powders
Coal and coke (except bituminous)
Blacking of all kinds. ^
Copper, manufactures of:
ClassB
'.
ClassC
ClassD
Straw, manufactures of
Matches
Jet, manufactures of
^Cocoa-butter
Gun-wads
Glucose
Polishing powder
Starch
$7, 778 02
457 00
8, 592 00
16,827 02
15,121 52
11, 965 54
10,190 35
10,141 80
9, 931 80
9, 045 40
8, 955 40
8,'801 46
8, 233 05
7, 528 39
7,170 10
7,140 78
5, 902 40
5,393 97
D.
D.
E;
A.
D.
C.
C.
1
•.
Philosophical apparatus and instruments
Plaster of Paris, ground
Vinegar
Pbotographs
Ginger, preserved
Chocolate
i
Emery, grains, &c.:
ClassC
ClassD
P rane wine
Candles
Toothpicks
50, 848 05
49, 530 76
45, 330 23
44,169 65
36, 906 68
29, 275 34
21, 820 25
D.
, . . D.
D.
D.
D.
D.
D.
j
D.
C.
A.
E.
A.
A.
,195 27
42 40
E.,
D.
I... D.
5,237 67
4,945 20
3,761 95
3, 336 80
REPORT OF THE SEORETARY OF THE TREASURY.
37
REVENUE FROM TAXES FOR 1886—Continued.
Beceipts of the United States Government, ^c.—Continned.
Sources.
Eevenue.
ARTICLES MOSTLY O P CLASSES C, D, B—Continued.
Chalk, preparations
Patent size
Teeth, manufactured
Packages, &c., designed to evade duties
Tar and pitch
Repairs on vesse
Wax, and manufactures of
Electric ligbts, and parts of
Coffee, substitutes
Brooms of all kinds
Whalebone, manufactures of
Collodion, manufactures of:
ClassC
ClassD
Felt for roofing
Mpiuufactured articles, not elsewhere specified
Cfder
Strings, gut, otber than for musical instruments
Lubricant
Size, vegetable
Rosin
Plum pudding
Insects, prepared or not prepared
Feather beds
Sugar-cake
Unmanufactured articles, not elsewhere specitied
Rags, not elsewhere specified or provided for
Rag
figures
Horn handles, &c
Palm leaf manufactures
Spirits of turpentine... -.
Putty
Stearine
Drawings
i
C.
D..
D.
D.
B.
D.
D.
D.
A.
D.
$3,223 40
2,946 00
2,895 40
2,887 23
2,246 85
2,143 9i
1,835 ei
1,690 80 ,
1, ei2 42
907 25
620 70
$103 35
335 43
D.
D.
E.
D.
D.
C.
B.
A.
D.
D.
B.
B.
B.
D.
D.
D.
D.
•.... C.
D.
D.
438 78
378 60
362 33
293 32
225 75
200 00
171 00
137 00
107 80
88 30
67 80
54 23
42 72
41 50
39 69
36 80
33 13
12 80
7 63
6 40
6 07
38
R E P O R T OF T H E SECRETARY OF T H E TREASURY.
A P P E N D I X G.
ARTICLES T H E IMPORTATION OF W H I C H DOES NOT AFFECT HOME PRODUCTS AND MANUFACTURES.
TREASURY DEPARTMENT,
B U R E A U OF STATISTICS,
Washington^ D. 0., December 4, 1886.
Hon.
DANIEL
MANNING,
Secretary of the Treasury :
SIR : I am in receipt of your letter of the 2(i instant, asking for a list
of dutiable articles for 1886, with the values and duties collected thereon,
comprising those articles which by being taxed as imports can protect
nothing in the TJnited States.
In reply I have the honor to state that, to properly answer your inquiry requires a thorough knowledge of the various articles produced
and manufactured in the United States, their uses, &c.; also a careful
investigation into the exact character and uses of the various articles
imported. As you desire this information at once, my answer must
necessarily be incomplete and unsatisfactory.
After a hasty examination of the schedule of articles imported during the last fiscal year, 1 submit the following as among those which,
if admitted free of duty, would least affect home products and manufactures of similar articles:
Imported articles entered for consumption iuring the year ending J^me 30,1886. not produced or manufactured to any considerable extent in the United States.
List of articles.
Value.
Animals, aU other
Bristles
Chemicals:
Antimony, as regulus or metal
Opium, crude
Nitrate of potash or saltpeter, crude . . .
Ostrich feathers crude
Hemp, unmanufactured
Hemp, tow of
Manila and other like substitutes for hemp.
Sunn.
Jute, unmanufactured
Sisal grass . . :
Other similar vegetable substances.
Currants, Zante or other
Dates
Figs.
Almonds
Filberts and wabiuts
Glass: See copy of communication from Messrs. Semon Bache & Co., on following page.
.
•
Human hair, raw
'.
Precious stones, not set
-.
Olive oil
Seeds:
Bulbs and bulbous roots
Hemp seed
Rape seed and other oil seeds
Tin plates, terne plates, and taggers' tin, of iron or steel.
Duty
collected.
$64, 508
1, 029, 975
$12, 902
149, 982
191,226
798, 489
285, 629
757,067
1,187, 724
140, 029
2, 580, 673
24, 266
2,581,919
2,148, 698
30, 008
744, 784
205,122
499, 986
482,124
509, 988
19, 123
351, 193
104, 716
189, 267
194,136
11,716
492. 096
4,425
528, 587
493, 752
3,876
226, 232
63, 497
139, 773
246, 207
269, 297
58, 663
7^, 915, 660
557, 351
- 11,733
791, 566
139,338
126, 569
2.5,314
50,752
6,133
47, 029
4,158
17, 719, 957 5, 740, 984
Yery respectfully,
WM. F . SWITZLER,
Chief of Bureau,
REPORT OF THE SECRETARY OF THE TREASURY.
39
[Enclosure No. 1. ]
N E W YORK, December 4, 1886.
"WM. F . SWITZLER,
Chief of Bureau of Statistics, Washington, D. C :
Telegram received. Antimony, metal; cobalt, oxide; log and other dye woods,
crude opium, phosphorus, chlorate of potash, crude nitrate potash, are wholly im-^
orted; other articles are mainly imported, while manufactured in a small way and
ence not named.
MCKESSON & ROBBINS.
E
[Enclosure No, 2.]
[Semon Bache & Co., importers and manufacturers of French and German looking glass, plate, window,
and picture glass, &c.]
N E W YORK, December 18, 1886,
Hon. W M . F . SWITZLER,
Chief of Bureau of Statistics, Washington, D . C . :
DEAR SIR : In reply to yonr dispatch, we have to say that while we do not know of
any cause which would make the manufacture of any kind of glass impossible in this
country, we have fco state facts—that t h e following are not produced in the United
States, v i z :
1. Enameled and colored cylinder glass.
.. 2. Polished cylinder glass, silvered and unsilvered.
3. Any kind of glass, polished or unpolished, for silvering purposes, whether cylinder or plate glass.
.
Further, f^-inch-thick plate glass, used for coaches, railroad cars, &o., may be manufactured here to a smaU extent, but nearly all t h a t has actually been consumed has
been and is so far imported.
Any further information you may desire we shall furnish with a great deal of
pleasure, aud remain,
Yours, very truly,
SEMON BACHE & CO.
40
REPORT OF THE SECRETARY OF THE TREASURY.
A P P E N D I X H,
c o m PAYMENTS OF INTEREST-BEARING DEBT, ETC.
Letter of the Secretary of the Treasury to the Spealcer of the Eouse of Bepresentatives^ in
anewer to the reeolution of the House of Bepresentatives of the 3d of February, 1886.
TREASURY D E P A R T M E N T ,
March2,lSS6.
S I R : I have had the honor to receive the preamble and resolutions
adopted by the House of Eepresentatives on the 3d ultimo, which require me to give information to the House on the following subjects:
F I R S T . Whether or not any agreement or arrangement was made by
the Treasury Department with the Glearing-House committee, or others,
in l^ew York, in order to avert a ^' temporary danger," or to ^^ preserve the gold standard f and if so, by what authority of law such
arrangement was made and carried out.
SECOND. The amount of silver dollars in the Treasury on March 4
1885, and on February 3, 1886, unrepresented by outstanding certificates; the amount of silver certificates in circulation on those two
dates; and the amount of interest-bearing debt that was subject to call
on February 3, 1886.
THIRD. The amount, of silver dollars in the Treasury on the aforesaid dates, respectively, that '^could" have been applied in payment of
the interest-bearing debt and other dues of the Government; and what
amount of silver certificates on the latter date that "could" have been
reissued.
F O Q R T H . Whether or not the same policy, as to the payment of sil,ver, is to be pursued in the future as in the pasto
The law of 1789, which first provided for the departmental organization of the Treasury, declared tliat the head of the Department
'^shall make report and give information, to either branch of the legislature, * * * respecting all matters referred to him by the Senate
and House of Eepresentatives, or which shall appertain to his office."
(R. S., § 228.)
Having been called upon by the House not merely for facts contained
in official records of which I am the custodian, but for my present opinion as well as my views of future policyy I have not felt at liberty to
avoid a plain and candid compliance with the request of the House,
even though it oblige me to enlarge my reply with argumentative matter, which might have been unnecessary, and out of place, if only an
exhibition of my official acts in the past had been required.
All the facts requested wiU be found below, or in the subjoined appendices; but those which relate to contents of the Treasury at the
two specified dates I have placed in their due relation to the larger
body of continuous and changing facts, which, taken as a whole and
REPORT OF THE SECRETARY OF
THE TREASURY.
41
recorded for a series of years, most fairly exhibit the condition of the
Treasury and the material for a review of its policy; These cover the
period from the passage ofthe act of February 28,1878, to February of
the present year.
The following table does not disclose all th© peril from which the
finances of the country were brought out, after the adjournment ofthe
Forty-eighth Congress, without action upon the subject now engaging
the deliberations of the Forty-ninth Congress, but it shows the gradients
where descent is so much easier than the reverse. The gold i n t h e
Treasury, besides the $100,000,000 held as the minimum reserve to
secure the present redemption and future payment of the $346,681,016
United States notes, has been as follows:
January 2, 1885.
;
, . . » . . . _ , . . . . $41,688,000
March 4,1885:
>26,358,000
June .3, 1885
»
- 14,650,000
July 29, 1885..
......o
, 20,071,000
July 30,1885
....„,
25,985,000
January 2, 1886
:
48,444,000
February 8, 1 8 8 6 . . . . . . _ , .
,
38,219,000
The correspondence given (Appendix A) in reply to your first inquiry, respecting an exchange of subsidiary silver, and of certificates
respecting standard silver dollars, which certificates were not a legal
tender for gold, United States notes, or other forms of lawful money—
a transaction wherein the Kew York banks showed again, as during the
war, their perception of an enlightened self-interest in the dictates of a
sterling patriotism—receives light from the following table:
,
Eeceivable in the Treasury of
the TJnited States from their
debtors.
Gold c o i n s . . . . . . . . . . . .
Silver coins
do
do
Payable from the Treasury of the United
States to their creditors.
Do.
•'Except where otherwise expressly stipulaAtftl in tho contract."
Except for gold certifipates of deposit,
act of February 28, l878. Revised Statutes, 254.
Not legal tender, July 12,1882.
Not legal tender, February 28,1878.
Legal-tender limit, $10; act of June 9,
1879.
do
do
Practically, as redeemable in
United 'States notes, under act
of Juno 9, 1879.
United States n o t e s — Except duties on imports re- Except interest on bublic debt, February
ceived since January 1,1879.
25,1862.
National Bank notes
Except duties on imports. . . . . . Except interest on publio debt, June 3,
1864.
Except in redemption of United States
notes.
Gold certificates
Silver certincates
Subsidiary s i v e r
The Treasury is a reserx^oir with incomes and outgoes. By law it receives almost every kind of authorized currency. The outflow authorized by law is far less free and various. The Government could, of
course, compel the acceptance of nothing but legal-tender money, eveu^
42
REPORT OF THEv SECRETARY OF THE TREASURY.
if compulsion were a pecuniary or moral advantage. The actual diversity between the legal circumstances controlling inflow and outflow is
obvious at a glance over the table and statutes there cited. Nevertheless, the practice of this Department, becoming within the last twelvemonth for the first time difficult, has been uniforna, to so provide for the
usual wants of the sub-Treasuries, that any creditor ofthe United States,
rich or poor, laborer or contractor, soldier or sailor, Congressman or
bondholder, might at all times have his choice among the currencies in
which his dues were payable. This procedure, an ordinary commercial
convenience at private tills where only thousands of dollars pass from
year to year seems not unsuitable where hundreds of millions ebb and
flow, and where those who control the till control the currencies. No
kind of curriency issued by the United States has been, at any branch
o f t h e Treasury, disparaged and discredited, by withholding another
kind of currency to which it was made by law equivalent.
Meanwhile the silver dollar circulation has been enlarged from March
4,1885, to date, from about $40,000,000 to about $51,500,000. I have
labored to promote the circulation of silver with unremitting energy.
I have pressed its circulation at a constant expense to the Treasury
when other forms of lawful money could have been circulated without
such cost. I have pressed its circulation at the expense of the United
States notes (ones and twos), which as fast as redeemed, have been reissued only in larger denominations. I have pressed its circulation at
the expense of the circulation of National Bank notes. I have upheld
its value by never compelling its receipt by any creditor of the government, and never failing to provide by exchange or transfers whatever
currency might be preferred.
" .
So much for the outflows from the Treasury. Now as to the inflows.
The policy of the Treasury had been, under my x^redecessors, ever since
specie redemptions of United States notes began, January 1, 1879, to
admit their receipt for duties on imports (despite the provision of the
Act of February 25, 1862, section 5) rather than oblige importers to go
to the Treasury to get those notes redeemed in coin, which 'would then
immediately be returned from the Custom-House receipts for duties.
The language of my predecessor, Mr. Sherman, in his Annual Eeport,
Pecember 1, 1879, speaking of the beginning of specie redemptions of
United States notes, January 1, 1879, was as follows:
''No distinction has been made since that time between coin and
United States notes in the collection of duties or in the payment of the
l)rincipal or interest of the public debt."
The same Secretary, December 2, 1878, had apprised Congress of^his
purpose so to conciliate the contradictory policies ofthe law by saying:
' ' W i t h this view of the resumption act, the Secretary will feel it to
be^his duty, unless Congress otherwise provides to direct that, after
the 1st day of January next, and while United States notes are redeemed
at the Treasury, they be received the same as coin b y t h e officers, of
REPORT OF THE SECISETARY OF THE TREASURY.
43
this Department in all payments in all parts of the United States. If
any further provision of law is deemed necessary by Congress to authorize the receipt of United States notes for customs dues or for bonds, the
Secretary respectfully submits that this authority should continue only
while the notes are redeemed in coin."
Accepted without protest by the creditors of the United States, this
construction of the law, submitted to the disapproval of the 46th Congress thus without result, arid since tolerated by the 47th and 48th Congresses and by all my i)redecessors in this Department, may be held
to abridge my liberty to enforce a stricter observance of the letter of the
statute.
The question would be vacated by an act of Congress repealing the
(act of May 31, 1878) compulsory post-redemption issues and reissues
of United States notes, and providing for the gradual absorption of the
same in a more abundant, lawful, and safer currency, consisting exclusively of coin and deposit certificates of coin, dollar for dollar, of any
amount in each denomination desired.
The table (Appendix C) exhibits the total net receipts and disbursements of the Government from Jurie 1, 1885j to December 1, 1885,
with the kinds ofcurrency received and paid in aggregates and in percentages of the totals. That table and the table (Appendix B), continued from the Treasurer's annual report down to the 20th instant
throw a flood of light upon all the objects of your research. The most
serious Treasury problems with which I have had to deal and the whole
method of their solution are^there set forth to a competent scrutiny.
Unless by non-receipt of United States notes for taxes on imports,
the various flows to the Treasury are not to be regulated by any individual discretion or skill in this Department. The nature and limits
prescribed to our several currencies are fixed by Congress. None is
l(Bft to the choice and freedom of the peojple except the gold currency,
and that is threatened by the presence of artificial rivals on every side.
While these laws and human nature continue as they are, it is probable
that the kind of currency receivable at the Treasury, which will first be
paid in, will always be that kind (for instance silver certificates), which
has not the legal-tender quality, and is, therefore, more acceptable for
liabilities to the Government than for liabilities to private persons.
But there are other limits, even in respect to the circulation of full
legal-tender money, which may be discerned in practice, whether the
reservoirs, through which such money flows, be large or small. These
limits arise from the various uses to which money is put, of small and
large denominations, and from everybody's natural endeavor to employ
whichever best promotes his convenience in each purchase, payment, or
exchange. These are the limits imposed by trade and labor in practical
use. The car companies accumulate five-cent pieces. The clearing-house
takes in $10,000 certificates. Given a supply of all other denominations,
the number of one-dollar coins or bills that will be employed cannot be
made to exceed a certain amount. They will, if once forced out, return
44
REPORT, OF THE SECRETARY OF THE TREASURY.
again speedily and the excess will stay in the reservoir, Treasury, or bank,
uncalled for. If forced out, and kept out, they will occupy the place in
the circulation which another denomination would have filled more conveniently had the public enjoyed an option. The same rule holds in respect to every other denomination, qualified by the fact that dimes will
efiect more payments than dollars can, and a dpllar more than a thousanddollar certificate. Ones and twos, together with silver dollars, cannot
both be circulated at the same time, to an amount muchbey ond what would
be used optionally of either kind alone. Five dollar bills and half-eagles
are in the same case. The amount of use is different in each denomination because the kind of use in each is different, and that has limits as
in the use of knives, or coatSo Ones can be forced to do the work of
tens, but the ones will not naturally be put tp that use; and if the ones
are forced into an unnatural use, the tens heaping up in the reservoir
will practically measure the violence. If ones and twos are crowded
into the place occupied by silver dollars, the silver dollars will accumulate and go into the form of silver certificates, which in their turn will
exclude the national-bank note from circulation and the gold certificate
from the custom-house. If it were desired to promote the circulation
of a silver certificate of a given denomination without reference to the
primary fact of public convenience it could; be accomplished only by
shouldering out from concurrent circulation: the same denomination of
national-bank notes, of United States notes, and of gold certificates.
The law is general. I t holds as well in respect to any given group of
denominations. The whole volume of any particular kind of currency
(for instance, silver certificates) consists of some group of denominations.
These are tedious explanations, but every practiced eye will see their
import. The operations of the United States Treasury under existing
laws can with difficulty be prevented from forcing the Government in
its relations with the people and national banks to a silver basis.
Forcing the silver and silver certificate circulation by too large payment therewith of interest-bearing or other debt would exclude the gold
circulation and precipitate a silver basis.
Forcing the silver accumulation is an addition of $24,000,000 per annum to the vast sum of our Federal Taxation.
Forced silver circulation, forced silver accumulation, these are the
alternatives to which silver coinage has brought us, now.
But the term when a choice will remain possible between these bad
alternatives, silver storage or a silver basis, is narrowing.
Eeduction of superfluous taxation, unless the reduction shall include
the $24,000,000 spent for silver; reduction of the surplus, if silver debtpayments shall surcharge the circulation; will drive us over the ruinous
fall from silver storage to a silver basis.
The number of silver dollars in the Treasury, March 4,1885, is giyen
in Appendix D ; but as my' own term of office had not begun on that
REPORT OF THE SECRETARY OF THE TREASURY.
45
day, I hope to be excused from expressing any opinion as to what my
very competent predecessor "could" on that day have done with-those
coins.
The number of silver dollars in the Treasury, on the subsequent dates
named, is given in the same Appendix D» As to what application
" could" be made of them, being questioned, I respectfully answer, besides what is elsewhere said, that by careful management, so as neither
to contract the currency nor to force a silver basis, these silver dollars
might all, in time, be applied to withdraw and cancel the United States
notes which are "other dues to the Government" now payable. But
my power to do so is left in doubt by the act of May 31,1878. I therefore suggested its repeal in order to provide a larger use for silver.
Such a substitution of silver and silver certificates for Unitei States
notes, in the circulation, is practicable in time and with care, without
the hazard of a silver basis. But to force a surplus silver circulation by
too large funded-debt payments therewith, is not possible without the
hazard of a silver basis, as I have above shown in explaining the illegitimate influence of the Treasury upon the circulation under present laws.
An economy, vastly greater in dollars and cents, is otherwise possible.
The amount of the interest-bearing debt now (February 3,1886) subject to call is the unpaid residue of the 3 per cent, loan of July 12,1882,
viz., $174,092,100.
No other part of the public debt is subject to call at the option of the
United States before September 1,1891, except the United States notes,
to the payment of which in coin or its equivalent (besides the redemption which has been kept up since 1878) the faith of the United States
was solemnly pledged in the act of March 18,1869. The amount of
these notes now outstanding is $346,681,016.
The aggregate of public debt now subject to call is, therefore,
$520,773,116.
Eeducing this amount of $521,000,000 by the $100,000,000 reserve
fund and the surplus on hand, and it is obvious, from the subjoined
table, that both the interest-bearing debt and the non-interest-bearing
debt together will not aifford material for a debt reduction during the
period from March 4, 1886, to September 1,1891^ five and a half years,
at a, rate equalling the debt reduction of the last two Presidential terms.
A reform of the currency coupled with the payment of the two sums
now alone payable at the option of the United States prior to September, 1891, would constitute a financial achievement outvaluing any other
which has heretofore been attempted within such a period of time.
By undertaking that reform of the currency, by slightly deferring
payment of the 3 per cents, and by a reduction of the annual interestcharge on the 4J and 4 per cents, the Funded Loans of 1891 and 1907
(say $988,000,000), which such a currency reform would make feasible,
we might pay and cancel every United States note before 1889, the close
46
REPORT OF THE SECRETARY OP THE TREASURY.
of the first century under the present Constitution, and yet very largely
reduce also the present anniial burden of taxation.
March 1,1877.
Brincipal
Interest
.....
Total debt
Cash in Treasury
.
. March 1,1885.
February 1,1886.
$2,195,658,332 11 $2,191, 900, 384 90 $1, 880, 367, 918 93 $1, 837,438, 577 03
8,485,109 44
26, 954,456 42
22,-700,666 03
10, 021,988 66
. .
..
March],1878i
.
Debt, less cash
Eeduction in debt from
March 1,1877
Eeduction in interest-charge
from March 1,1877
2,222, 612,788 53
133,831,645 49
2,214,601,050 93 1,890,389,907 59
172, 563, 921 ^5
484,466, 557 41
1, 845, 923, 686 47
498, 986, 832 13
2,088,7«1,143 04 2,042,037,129 08
1,405,923,350 18
1,340,214,880 78
;
682, 857, 792 86
748, 566,262 26
47,389,314 50
•
47,389,588 50
Were the currency, with such careful regard,to the needful conditions,
that are mentioned in my Annual Eeport, so reformed that the receipts
and outgoes of the Treasury should consist (instead of six or seven
different sorts of currency) only of coin and its corresponding certificates, it is clear that the surplus, which (act of March 3,1881) the
Secretary is now to apply, " a s he may consider proper, to the purchase or redemption of United States bonds," could always be so cut
down and would never need to be left distended, beyond an easy working balance.
Were tbat whole beneficent reform of the currericy attained, which
the country now justly anticipates from the wisdom and statesmanship
of the 49th Congress, our annual taxation coiild be reduced $24,000,000 .
at a stroke, yet more silver be coined in due time, and at the old price,
as I will presently ask leave to show.
\
To that very plausible but partial view of the duty and policy by law
enjoined upon the Secretary, which is intimated in the resolutions, the
main objection is, that it abandons all hope bf bimetallism, and of raising silver to its old ratio to gold, and invites silver monometallism with
gold expelled and the present fall in silver perpetuated.
But it is a view to which there are three answers in our statutes,
either one decisive—the first, found in the group of laws on silver since
1875; the second, found in the earlier law of 1873; the third, found in
the Coinage laws from 1792 to 1886, and in their coin monetary unit
kept inviolable.
I pass over the answer that executive officers may look only tp the
Constitution and Laws. I pass over " concurrent resolutions " whicli
are not statutes. And I remark:
(1.) The silver legislative acts from 1876 to 1884 all imply, or declare
the object pursued in them to be " a common ratio between gold and
silver, for the purpose of establishing internationally the use of bimetallic mPney and securing fixity of value between those metals."
This fact, that a bimetallic unit of value was the avowed object of
all the silver legislation, is itself decisive. I t is not in the least altered
REPORT OF THE SECRETARY OF THE TREASURY.
47
by the fact which I regret to learn from a recent Minority Eeport of
your Coinage Committee, that there are any, who now hopelessly abandon bimetallism in behalf of silver monometallism, and who abandon
also the bimetallic unit of value in 1870, in behalf of a coin not then or
ever the only embodiment of that unit, nor now^ its embodiment, and
now fallen in value.
Although the number of grains in the silver dollar piece of 1792 to
1873 is, indeed, identical with the number in the silver dollar piece of
the law of 1878, the latter is practically a subsidiary silver coin with
the ten-dollar legal-tender limit removed. The 1792-1870-1873 silver
dollar piece was a quite different thing. I t was but one embodiment
of the Monetary Unit, which unit had free coinage in both metals as
legal-tenxler money to any amount. Free coinage and full legal tender
have been the two concomitants of our monetaiy unit, called Dollar,
from 1792 till now. Without them both, a Monetary Unit is inconceivable.
The Monetary Unit of the United States from 1792 to 1873 was embodied in coins both of gold and silver, but in neither exclusively. The
essential circumstance during that period was not the weight (371.25
grains) of the pure silver contained in the silver dollar and its divisions
(two halves, four quarters, ten dimes, &c.), nor the weight of the pure
gold contained in its multiples (eagles, half-eagles, quarter-eagles), nor
yet was it the essential circumstance (Section 11, Act of 1792) " t h a t
the proportional value of gold to silver in all coins, which shall by law
be current as money in the United States, shall be as fifteen to one,
according to [equal] quantity in weight * * for the proportion was
changed in the law of 1834. The essential circumstance was the equality
sought (first by the ratio 15 : 1, then by the ratio 16 : 1) between the
coin embodiments of the Monetary Unit in the two metals, silver and
gold, with free coinage of both into coius of full legal tender as Dollars.
The system was Bimetallism, the very definition of w^hich is, free coinage for both metals into coins of full tender in payment of the legal
unit of value, and includes a ratio of weights such that the unit coined
in either metal is equivalent to that unit coined in the other metal.
What the "Dollar of the Fathers" was, what the dollar of 1870 was,
as a legal proposition, cannot be stated in terms of the weight of the
silver dollar, nor in terms of the weight of the gold dollar; it must include the essence of that dollar—the equality of value fixed in both.
Noting these facts and the fact that the law of 1878 was an illogical
compromise—w^hich had none of the merit and effect that a free coinage
act (at the right ratio) might then have had, and which limited its risk
by destroying its value and creating a certain danger—the important
point is that its expressed purpose was bimetallism and a bimetallic
unit of value, not silver monometallism and a silver unit of value. I t
sought to restore the old value to silyer, not to profit by its fall.
48
REPORT OP THE SECRETARY OF THE TREASURY.
Again, the law of 1878 was urged to promote specie payments. It
was specie against paper; but specie in two kinds, not one only, and
with some hope of their equivalence. A recent argument that it made
specie payments possible has this defect! The United States notes
have not yet been paid in specie; and the redemption of thein,,which
is the only part of our promise in 1869 as yet performed, was reached
and is maintained at the gold standard.
An avowal of forced accumulation, or of forced circulation of silver
as the object of the promoters of the law of 1878 would have been fatal
to its enactment. Nor would either have.been possible under the free
coinage law as first passed by the House of Eepresentatives. It is
because forced silver coinage has brought us to the alternatives—silver
storage or a silver basis, that the policy of paying debt with the silver
surplus finds advocates among those who have not perceived how it
practically elects the worse alternative.
No such objects were avowed in 1878 because rio such consequences
were foreseen. The interesting fact now to be recognized is that the
law of 1878 was a totally unprecedented monetary contrivance. The
real object of most of those who voted its passage was more than defensible. The actual method is quite indefensible. But its consequences
were not all foreseen. History nowhere affords their precedent or example. Like the laws of Germany of 1871-'73, our law of 1878 has
given a very costly instruction to statesmeri upon the subject of money.
Treasury purchases of silver for fractional coin, if disparaged, are a
necessity. For coinage of a full legal-tendpr metal they are either unnecessary or improperly profitable.
(2) The Eevised Statutes and Statutes at Large direct^the issue and
prescribe the more or less limited uses of several kinds of currency.
To but one do they assign the office of a standard. They named the
unit of all these currencies and of our money of account with the n a m e Dollar. To but one dollar do they assign the function of a unit of value.
The law of February 12, 1873, sec. 14 (E, S., 3511), reads as follows:
"The gold coins of the United States shall be a one-dollar piece,
which, at the standard weight of twenty-five and eight-tenths grains,
Bhall he the unit of value. * * ^'?
Thus the gold dollar, circulating amid all other dollars, then existing
or thereafter to be issued, whatever their substance, description, or
kind, "shall be the unit of value." The law is unrepealed and unmodified. No other statute of the United States now in force refers to that
office, uses the phrase, or names the thing. The function of the gold
dollar as the unit of value is therefore unqtialified and unquestionable.
Its office as a unit of value was once shared with fifteen times, afterwards with sixteen times, its weight of silver. Its employment in that
behalf is now unshared and sole. Its value is the unit of value, its
measure is made the only measure. To that measure every other dollar
must conform, while other dollars exist and this law of Congress starids.
REPORT OF THE SECRETARY OF THE TREASURY..
49
The simplicity of the language makes definition itself difficult, but
dispute impossible. It has made my duty clear.In reply, therefore, to the summons of the House, mindful of that
duty and my oath, I respectfully answer that while the law remains
what it is, I shall endeavor in the future as I have endeavored in the
past to conform my official acts to the letter and spirit of its plain requirements, and to so exercise every discretionary power with which
it is the pleasure of Congress that my office be vested over the contents,
the outgoes and the surplus of the Treasury, as to maintain every other
dollar of their creation in such use and circulation as consists with the
preservation of their practical commercial parity with the gold dollar,
testing that equality exclusively by the sole '^ unit of value."
(3) The earlier history of the coinage and currency laws of Congress
from 1792 to 1878 strikingly confirms this view of the present obligations of laws now in force. The history of the coinage laws is given
in my Annual Eeport with some detail, to which I beg to make reference. Congress has loyally striven to keep the coins equivalent down
through every bimetallic or monometallic unit of value. There are few
such impressive facts in any other legislative history, and I have ventured to observe " t h a t it is for us to pass on unimpaired this high tradition of financial integrity. But of justice as of liberty, eternal vigilance
is the price." The price is always exacted. We cannot live upon the
vigilance of our forefathers. I t was a wise statesman who said: "The
advance of society depends upon the constant exertions of good men;
whenever they abandon those exertions, it drops back like lead."
I t is because the policy set forth in these resolutions in which your
honorable body has required my opinion, would seem to break our high
tradition of financial integrity, that I have felt obliged to recur to the
one blot in our monetary history which is now inviting a companion
blot. We cannot escape its discussion, (Appendix G.) I fear that a
reform of the currency will be impossible until your debates have shown
the present generation of our fellow-countrymen why post-redemption
issues and reissues of United States notes, and the coinage of depre.ciated dollars from Treasury purchases of silver, are kindred errors
which hinder return to our former and normal condition, namely, open
inints for any amount of both metals.
May we not do well to come together after our bitter experience, as
the fathers of the Eepublic came together at the founding of this Government, after their far more bitter experience of a disordered currency,
and build on the corner-stone of justice established in the Constitution
and maintained with perfect integrity in every other act of Congress
from 1792 to 1886^
While the conditions of free coinage of any metal are perfectly simple,
if that metal alone shall furnish the unit of value, they are complex if
two metals are t o furnish i t The unit is one thing, the metals are two,
^nd require the fixing by l^.^ of tbeir ratio of weigbt^^that is to say,
4 F .
50
• REPORT OF THE SECRETARY OF THE TREASURY.
how many kilograms of silver shall be held equivalent to one kilogram
of gold. \
.
Equivalence in its two coin embodiments is the essence of a bimetallic
unit of value. For the dollar of either coin is to be the one thing,—the
unit of value. But control of the value of either metal as ineasured by
the other, or of both metals as measured by all other exchangeable
things, is now, at least, totally out of the reach of any one nation. It is a
baseless delusion t h a t t h e United States can "dictate the value of silver
and gold." (Minority Eeport of Coinage Committee, pp. 3,4,8.) More> over, there is neither real nor apparent inconsistency betweenthe opinion of the foremost champion of bimetallism, the distinguished M. Cernuschi, that before silver had fallen, France alone, by keeping open
mints for German silver, could have preyented its fall; and his present
opinion that all the gold would emigrate from France, or from the
United States, if single handed, now, after the fall to 20 to 1 has occurred, either nation were to reopen her miuts to the free coinage of
silver, as of gold, at the former ratio of 15.5 to 1, or 16 to 1. As to the
latter opinion, argued with scientific precision, and offered with disin- ,
terested, zeal in behalf of international bimetallism, by M, Cernuschi, to
public consideration in the twp great Eepublics, it is an opinion accepted
and indorsed by all the experienced business men and instructed economists throughout the country, with whom'my official duties have brought
me in relation. (Appendix I.)
It is now become plain, to those who take comprehensive and practical
views of public policy, that the United States can do no better than return at the earliest possible date to a binietallic unit of value. B y this
I mean—
1. The monetary unit embodied in coins both of silver and of gold.
2. The monetary unit of value embodied in the silver coin to be made
and kept in that relation of equivalence with the present and prior unit
of value which has been our honorable distinction ever since the Constitution was framed.
3. Open mints, for the free coinage of ^old ^nd silver at a fixed ratio,
to every citizen of the United States bringing either metal, and .the
right to have his coins received in every,sale and payment as full legaltender dollars.
'
,
Nothing less than this is bimetallismo I t is not bimetallism that we
are having now. All our silver coinage is but excessive subsidiary
coinage of Treasury purchases of silver fpr a fictitious Treasury profit.
We lack an indispensable part of bimetallism. We lack the free coinage of everybody's silver, to an amount unlimited by Government, into
coins- of full legal tender. We only maintain a free coinage for everybody's gold, to an amount unlimited by Government, with coins of full
legaltender.
I t is the facts of our present situation, I would res pectfully reassert,
that constrain us toward bimetallism as pur goal.
REPORT OF THE SECRETARY OF THE TREASURY. '
51.
Our $550,000,000 coined- gold, our $220,000,000 coined silver, now
make any policy save ultimate bimetallism for the United'States, practically and politically a Utopian policy.
Stopping the coinage of Treasury purchases of silver is not a policy
in which we can rest and be thankful. It is merely the first and indispensable step to ultimate bimetallism. It is also the only step to ultimate bimetallism. No intelligent expert on either side the Atlantic
has proposed or attempted to defend any other step to ultimate bimetallism.
It js,a wise step in the interest of industries jeoparded by doubt, tp
end the increasing risk of expelling our gold. But it is a step necessary in this interest of silver owners, because continued silver-dollar
coinage, after long trial, neither betters the price Pf silver nor narrows
its fluctuations, arid tends to prevent rather than promote that international concert which, by restoring open mints for silver in three or
more great commercial nations, can alone restore its price. No mint in
the world which gives free coinage to gold now^ gives free coinage to
silver. Except our own, no mint in the world which gives free coinage to gold now coins full legal-terider silver. We alone heap up the
load. The sure outcome is silver monometallism for us. Meanwhile,
what good have eight years of it done tbe silver-owners? Not a dollar
of their coin or bullion crosses the sea and there brings its former price.
But silver monometallism in the United Stages will not restore silver
to its old price any more than the silver monometallism of India, China,
and Mexico do. I t will not even tend to restore silver to its old price,
and so is condemned as an incapable, unprofitable monetary policy. In
that respect, it is worse than our present limited coinage of Treasury
purchases, prior to the day of their outcome in silver monometallism.
I t is even worse for the ultimate price of silver than if we stopped s,uch
coinage and held on so indefinitely. The reason is plain. Silver monpmetallism in the United States, in due time and finally, will release
to Europe the bulk of our $550,000,000 gold, and assist every oncebimetallic nation there to follow Great Britain and the Scandinavian
States in becoming and remaining a gold monometallic nation, with but
token silver for small change.
Silver mpnoriietallism in theUnited States, in due time and finally, will
release the depreciated full legal-tender silver of European bimetallic nations to compete with the product of our own mines for a passage through
our mints. Assume that we could exclude it by stringent laws—though
it is a strange assumption—foreign silver would distance ours in the
race for the Orient, with which we trade mostly through Europe now,
and with which we have so little trade, but Europe so much.
The transfer and exchange of a part of Europe's silver stock for the
bulk of the United States gold stock might be indirect in part, but itwould be unavoidable. The open mint for silver in France was all that
Germany used or needed to effect the substitution of her silver fpr the
52
REPORT OF THE SECRETARY OF-THE TREASURY.
gold of France. That is what silyer monometallism in the United
States would at last come to, undeniably—the exchange of European
silver against American gold; and that could not raise the ratio of silver
to its old level, but would fasten it down finally.
Even were this indirect but ultimate exchange of our gold for European silver hindered by any present tendency of coin balances to continue in our favor, it is still but an affair of time. There are other
arguments, too complex to be met incidentally; but whatever their
force, the disuse of gold by the United States would be compensated by
.its increased use in Europe, and thus prevent its loss of purchasing
power. So our increased use of silver, tending to enhance its purchasing
ppwer, would be countervailed, without benefit to the United States, by
its dimished use in European nations, thus preventing its gain of purchasing power, whether their legal-tender silver stocks were drained
off to the West or East. The bimetallic theory of an ever-balancing
approximation ofthe two metals to a fixed ratio, whatever the variations
in the natural increase from mines of either, metal, has no application
to the case of substitution here supposed, any more than it had to the
substitution which Germany effected at the expense of France. The
(emigration of our gold to Europe would n o t restore the price of silver.
There is one way, and only one, by which silver can be restored to its
old ratio and value, namely, an international concert upon a common
jatio, with open mints to both metals at that ratio,
A concert of European powers without the concurrence of the United
States is impossible, for this reason. The ratio to gold at which most
of the European silver stocks have been coined is 15.5:1. Our ratio
is 16:1. A merely European concert of nations would make profitable
the export of all our silver, and we should be drained of the metal as
w^e were, by the same difference of ratios, from 1834 onward, when our
loss induced in 1853 our first subsidiary' coinage of fractional silver.
A concert of the European powers, together with the United States,
until we stop coining silver, is impossible for the same and another
reason. I t is impossible while ratios differ, and while we persist in
that which is not only different, but which would both drain us of all
except fractional silver, and inundate them with our coined $220,000,000
and whole future annual product. But, moreover^ the step is one which
no European nation, now loaded with a depreciated but full tender
silver coinage, will consent to take while the direct or indirect substitution of European silver for United States gold seems a possibility, even
a remote one. I t is perceived to be a near possibility under the continuing operation of our present laws, by those who'control, with firm
harids, the monetary policy of foreign powers.
So long as we do not stop, and stop unconditionally, our coinage of
full legal-tender silver, we cannot destroy foreign hopes of enlarging
their stock of gold at our expense. But I am equally well assured,
that wheu we do stop, and stop unconditionally, and destroy suQh hopes^
' REPORT OF THE SECRETARY OF THE TREASURYo
' 53
such an international concert as I have described will then become
possible. The situation of bimetallic European nations will then be no
better than ours, and, for the first time .since the fall in value of their
full legal-tender silver, will offer no other remedy or outcome than an
agreement, with suitable precautions, upon open mints at a-fixed and,
• common ratio, to which the assent of the United States would be indispensable.
At the root of some of the opposition to the policy of ultimate bimetallism for the United States on the part of those who prefer the single
gold standard is the idea that there is now too much silver for the'old
price. This idea seems to me to have less support than most of the
dogmatic assertions which are equally beyond proof or disproof. Diminished use must be reckoned with, even by those who believe that
.currencies are like commodities in being absorbed away by concessions
in price. But if it be -a sound opinion that there is none too much
monetary metal in the joined gold and silver stocks of the world, then
the apparent excess of silver now is an illusiono And who can doubt
that if silver were to-day restored to its old ratio, the apparent glut oftBe metal alongside the gold currencies of Europe and the United
States, would immediately disappear. The $.^:20,000,000 of our own full
legal-tender silver, if recoined at the 'same ratio as the vastly larger
and controlling stocks of silver in Europe, might vanish like the full
fourth of our $550,000,000 gold coin, which fourth we cannot track or
find, and yet have coined and counted, but have not seen depart, and
so ascribe it in our tables to " Other Banks and Private Hands,"
I distrust the very definite figures upon these subjects which are so
commonly employed, and with so much confidence. For I concur with
the late Mr. Bagehot in the impression that most of them are not worth
the paper they are printed on. But we certainly know that from all
the silver mines of the world we have had no such outpour as the gold
of California and Australia, We .'certainly know that, t h e ' m i n t s of
France reinained open at an unchanged ratio to both metals through all
that golden inundation. We also know that the level of price of the
hundred commodities of man's chief use has now returned from its
highest range in 1871, the date of the first. German law, to the range of
1845-'50, before that vast increase in the stock of gold began which
makes the recent increase in the stock of silver look so insignificant—
au increase, moreover, which has been concurrent with a diminishing
gold product.
. • A consideration of these larger facts, and tbe still more controlling
one to which I have already referred, that man's inventions and industries are hammering down the prices of all the products of man's labor,
may well give us composure and confidence in joining with other nations
to open our mints at a common ratio to both metals. But international concert we can never have, except by stopping our present
coinage, and stopping it unconditionally.
64
REPORT OP THE SECRETARY OP THE TREASURY.
A delusion has spread that the. Government has authority to fix the
amount of the people's currency, and the power and the duty. There
is no semblance of such an absurdity in the Constitution, as the power
granted to any department or division of this Government to determine,
fix, or change the amount of money needed to satisfy the people's
need for an instrument of circulation and exchange. There can be too
much or too little. They do not need to convert all of their wealth,
not even ail of their gold and silver wealth, into a medium for circulating that wealth. They do need to apportion some of their wealth
to that use, whatever economies, from the clearing-house to the bookaccount, they may practice; whatever substitutes, like the bill of exchange, notes, &c., or whatever representatives, like the coin certificate, they may employ. But between these extremes the Government
is as incompetent to draw the line as unempowered. The people of the
United States, however, can draw the line with perfect success. They
can decide how much currency they will employ, as they decide how
many pounds of beef they will consume daily; namely, by letting every
one provide his own. Providing a unit of yalue, to which every coin
of the people's use must be conformed, is the maintaining of justice.
Insuring that conformity by public mint coinage is necessary. But
to say how many such units the people shall have and employ, or how
many representatives pf their unit, is no less absurd than to say how
many bargains they shall make and how many exchanges. There is a
constant tendency in all governments to widen their authority and
enlarge their business. We shall be most faithful to the people's service by suffering: no encroachment upon the people's liberties.
Th6 immense superiority of the precious metals as a kind and amount
of wealth suited to be the standard measure of all wealth, appears, first,
in this, that it is an amount not to be varied by legislative wisdom;
second, that it is an amount not to be considerably varied by any single
generation of men. For that, the annual increment is too small in proportion to the total mass, already huge, which slowly grows from age to
age. That total mass, by its hugeness, its invariableness, its indestructibility, is a miracle among measures. Standing over against the vast
aggregate of human commodities mostly perishable, which sinks and
swells with seed-time and harvest as the seasons change, and of which
the unconsumed and more or less imperishable part is so small, the
monetary metals of the world are the most trustworthy attainable
measure of value.
Whatever doctrine of money we accept, and whether or not we ascribe
the fall of silver to the glut, or the glut to the fall, or both to diminished use, nobody will dispute that a larger us© can be provided for silver, by mere laws and treaties effecting the total or partial disuse, say
in Europe and America, of-the smaller gold coins. The larger gold
coins would suffice for foreign trade. The very distinguished financier
and statesman. Von Dechend, who is at the head of the Imperial Bank
REPORT OF THE SECRETARY OF THE TREASURY.
. 55'
of Germany, has demonstrated,in a paper which the Secretary of State,
Mr. Bayard, enables me to subjoin* from his files, in Appendix H, that
the calling in of gold coins below the value of twenty marks, would provide a place which all the surplus thalers of the Empire, and all the surplus five-franc pieces.of Europe, are not enough to fill.
Were our own United States notes all paid and canceled; were our
own, currency to consist, as I wish it might, exclusively of such gold
coins, and silver for all smaller sums, with only actual representative
coin certificates, to any amounts required, in all denominations, from one
dollar upwaidj the United States would be able to join in such a preparation of a vacuum for silver. I t is believed that such concerted preparation would itself leave little for an international agreement upon, open
mints at a common ratio, to do, in order to raise the coined silver stocks
of the world, thus provided with a larger use, to the level of the old
ratio.i
But it is useless to dicuss the methods of restoring bimetallism until
Congress shall determine to stop the coinage and place that indispensable condition of negotiation in the hands of those who must execute
your will.
' Thanking the House of Eepresentatives for their consideration in
asking my individual opinions upon so important a subject of their deliberations,
I have the honor to be, respectfully, yours, •
' DANIEL MANNING,' .
Secretary.
The Honorable
T H E S P E A K E R OF T H E H O U S E OF E E P R E S E N T A T I V E S .
A P P E N D I X I,
REPORTS OF HEADS OF BUREAUS AND CHIEFS OF DIVISIONS IN THE
OFFICE OF THE SECRETARY.
(No, lo)
EEPOET OE THE TEEASUEEE.
TREASURY OF T H E U N I T E D STATES,
Washington^ D, 0,, Becember 1, 1886. S I R : The operations of the Treasury ofthe United States for the fiscai
year ending June 30, 1886, and its condition on that and subsequent
dates, will be found in the following report, which I have the honor to
respectfully submit:
.
R E C E I P T S AND E X P E N D I T U R E S .
The net receipts of the Government were $336,439,727,06; the net
.expenditures were $242,483,138.50, The receipts were $12,749,020.68
greater, and the expenditures were $17,743,796061 less than last-year,
making an increase in the net receipts for the past fiscal year over that
of 1885 of $30,492,817.29,
' The excess of revenue over expenditures was $93,956,588.56, The
following statement contains the details:
1885.
Kevenue from—
Customs
Internal revenue
Sale of public lands
^Miscellaneous sources
-
Total
Net increase
Increase.
$181,471, 939 34 $192,905,023 44 $11,433,084 10
4,307,210 94
112,498, 725 54 116,805,936 48
5, W5,986 44
5,635,999 34
. . . 24,014,055 06 21,097,767 80
•- 323, 690,706 38 336,439,727 06
Expenditures on account of—
Civil and miscellaneous:
Customs, light-houses, public
buildiags, &c
Internal revenue
Interior civil (lands, patents,
&c.)
Treasury proper (legislative,
executive, and other civil).
Diplomatic (foreignjelations)
Judiciary and quarterly salaries
War Department
Navy Department
Interior Department (Indian s and
pensions)
- --.
Interest on public d e b t . . . . .
Total
IsTet decrease
Surplus available for reduction of
debt
1886.
27,125,972 67
4, 550,623 21
8, 979, 266 36
36,854,109 05
5, 439, 609 11
4, 544, 677 98
42, 670, 5i7« 47
16, 021, 079 67
62,654, 762 12
51, 386, 256 47
$74 987 10
2, 916,287 26
2, 991, 274 36
24,165,246 36
4,113; 319 90
2,960, 726 31
437, 303 31
7,306,224 44
1,673, 041 92
33,323,749 66
1, 332,320 88
3,530, 359 39
4,107,288 23
3, 926,068 61
34, ' m , 152 74
13, 907, 887 74
69, 504, 022 2Q
618, 609 37
8,346,425 73
2,113,191 93
$6,849, 260 08
50,580,145 97
260, 226, 935 11 242, 483,138 50
63,463,771 27
15,740,295 04
12,749.020 68
Decrease.
93,956,588 56
806,110 50
6, 849, 26Q 08
24, 593, 056 69
17,743,796 61
30,492,817 29
.S7
58
REPORT ON THE FINANCES.,
"»
The receipts on account of the Post-Office Department, not included
in the above statement, amounted to $52,997,135.26, an increase of
$5,687,399.91 pver those of the preceding year; the expenditures increased from $50,326,314.50, in 1885, to $50,682,585.72, in 1886, or
$356,271.22. Of the amounts ^received and expended $26,403,240.62
did not actually pass through the Treasury, having been received and
disbursed by postmasters.
SUMMARY OF OPERATIONS.
Bonds of the United States amounting to $44,531,350 were redeemed
and applied to the sinking-fund.
Coupons from bonds of theUnited States amounting to $7,557,412.79
were paid by the several assistant treasurers and forwarded to Miis
office, where they were examined.
Interest amounting to $42,4985687.'92 on registered bonds ofthe United
States, including bonds issued to the various Pacific Eailroad companies,»was paid by checks on the Treasury and assistant treasurers,
amounting to 236,039 in number.
There were also issued 36,930 drafts in payment of warrants of the
Secretary of the Treasury, 72,998 drafts on warrants of the PostmasterGeneral, and 24,539 transfer checks on assistant treasurers, making a totalof 370,506 drafts and checks issued by the office during the fiscal year.
There were received for redemption during the year circulating notes
of national banks amounting to $130,296,606, which amount included
$29,557,588 of notes of failed^ liquidating, and reducing banks.
Coupons from 3.65 per cent, bonds of the District of Columb ia amounting to $105,441.19 were paid and examined, and registered interest
amounting to $416,448.90 was paid by means of checks.
Of bonds held by the Treasurer of the United States in trust for national banks $61,042,400 were withdrawn, of which amount $56,925,300
was held to secure circulation, and $4,117,100 was held, as security for
deposits of public moneys.
The bonds deposited to replace those withdrawn on account of circulation amounted to $20,754,900, and on account of deposits to $6,170,000,
making a total decrease of $34,117,500 in the bonds held by the Treasurer for national banks.
\ The total movement of bonds held for national banks was $87,967,300.
The amount paid by national banks during the fiscal year on account
of semi-annual duty on their circulation, was $2,592,021.33, a decrease of
$202,562.68 from the amount paid on that account the preceding year.
Worn and mutilated United States notes amountingto $63,000,000
were forwarded to the ^Treasury for redemption during the year, and
new notes to a like amount were issued in place thereof.
The issue of silver certificates during the year amounted to $4,600,000
and $28,523,971 were redeemed. ^
TREASUREIR OF THE UNITED STATES.
' 59
Gold certificates amounting to $10,188,895 were redeemed during the
fiscal year.
.
The amount to the credit of disbursing officers of the Government on
the books ot the Treasury at the close of the year was $17,947,107.64, of
which $15,331,354.53 was on deposit in the Treasury and $2,615,753.11
m the national-bank depositories.
The unavailable funds of the Treasury June 30, 1886, were $29,521,379.35, a decrease of $3,946.39 from last year.
THE STATE OF THE TREASURY.
The condition of the Treasury on September 30, 1886, as compared
with that on September 30,1885, is shown by the following tables. In
the Appendix, page 102, will be found a table changing the form of the
Public Debt Statement used prior to 1885 to the present mode, from
the year 1878 to June 30, 1886.
60
REPORT ON T H E FINANCES.
STATEMENT of the ASSETS and L I A B I L I T I E S of the TBEASUBY of me UNITED.
STATES, Septemher 30, 1885. ^
Liabilities.
Assets,
$180, 863, 798 65
71,271, 013 62
$252,134,812 27
140,387,030 00
Certificates
22,491,510 00
Less amount on h a n d .
Balances.
GOLD—Coin
Bullion .
Net gold
SiLVBB—Standard Dollars.
Bullion
125,379,706 00
Certificates
Less amount on hand .. 31,733,440 00
INet silver
ITNITBD STATES NOTES
Certificates
Less amount on h a n d . . .
$117, 895 520 00
$134, 239, 292 27
165,431,083 00
3,732, 336 69
24, 070, 000 00
1,075,000 00
169,163,419 I
75,517,153 <
50,926, 529 49
22, 995, 000 00
2, 946,127 88
27,931, 529 49
2,946,127 88
15, 515, 514 23
15,515, 514 23
Net United States Notes..
NATIONAL-BANK NOTES
•
DEPOSITS IN NATIONAL-BANK DEPOSITARIES
-
490,686,403 56! 234, 536,786 00| 256,149, 617 56
Totals .
Public Debt and Interest:
Interest due and unpaid
Accrued interest
Matured Debt
Interest on Matured Debt
Debt bearing no interest
Interest on'Pacific Bailroad Bonds
due and unpaid
Accrued interest on Pacific Bailroad
Bonds
Fractional Currency redeemed..
One and Two Year Notes redeemed
Interest Checks and Coupons paid!
Interest on Pacific Bailroad Bonds]
paid
Totals
Beserve for redemption of United States
Notes, acts of 1875 and 1882
Fund held for redemption of notes of National Banks "failed," " i n liquidation," and "reducingcirculation"
Fund held for redemption of National
(jold-Bank Notes
Five per cent. Fund for redemption of
National-Bank Notes
National-Bank Notes in process
of redemption
Post-Office Department Account
...
Disbursing Officers' Balances
Undistributed assets of failed National
Banks
Cuifrency and Minor Coin Bedemption
Account
., -..'
—
Fractional Silver Coin Bedemption Account
Interest Account, Louisville and Portland Canal Company
Treasurer's Transfer "Chocks and Drafts
Outstanding
;. . .
Treasurer U. S.. Agent for paying interest on D. C. Bonds.
1,825, 829 19
9,393, 087 00
3,871,385 26
221,332 30
2, 668 52
26, 519 96
969, 352 68
2,668 52
16,310,174 91
145,746 57
4, 500 00
152,915 09
490,839,318 65
846, 960 91
000, 000 00
38, 794, 042 60
123, 259 00|
12, 482, 800 92
2,917, 627 58
24, 220, 056 14
51,400,102 521
3, 542 398 35
. 411,180 39
488,128 35
59, 605 80
1,470 00
4,971,407 14
156, 916 92
33, 226, 392 32
Interest on D. C. Bonds paid.
Totals Balance
Assets not available: Minor Coin
Fractional Silver
Coin
AGGREGATE.
13,930 20
494, 395, 647 20 435,473,455 75
58, 922,191 45
791, 596 84
23, 526, 351 44
24,317, 948 28
518,713, 595 48 435,473,455 75
24, 317, 948 28
83,240,139 73
61
TREASURER OF THE UNITED STATES.
b
^
STATEMENT of the ASSETS and L I A B I L I T I E S of the TBEAS UB Y of the UNITED
'
STATES, September'SO, ISSii.
Assets.
Liabilities.
Balances.
$189,051,398 65
- 53, 509, 735 67
$242, 561,134 32
125,346,127 00
Certificates
Less amount on hand.. 41,036,550 00
GOLD.— Coin
Bullion..,..
Net Gold
SILVER.—Standard Dollars . .
Bullion
$84,309, 577 00
$158, 251,557 32
181,161,161 00
/ 3,877, 541 44
117,943,102 00
Certificates
Less amount on hand.. 22,032, 850 00
185,038,702 44
9.5,910, 252 00
Net silver
UNITED STATES NOTES
. 7, 895, 000 00
Certificates
280,000 00
Less amount on hand..
Net United States Notes
NATIONAL-BANK N^OTES
DEPOSITS IN NATIONAL-BANK DEPOSITARIES
Totals
Interest due and unpaid
Accrued Interest
Matured Debt
Interest on Matured Debt
.
Debt bearing no Interest
Interest oh Pacific Bailroad. Bonds
due and unpaid
Accrued Interest on Pacific Bailroad
89,128,450 44
45,244,640 88
7. 615, 000 00
364,452 50
37, 629, 640 88
364,452 50
16, 682,286 33
16, 682,286 33
489,8^1,216 47 187, 834, 829 00 302, 056,387 47
1,931,702 01
8, 998, 016 50
7, 313,035 26
201, 061 07
3, 524 75
•
37, 739 96
969, 352 68
>
19,454,432 23
Fractional Currency rede«imed...
One and Two Year Nobes redeemed
Interest Checks and Couponspaid
United States Bonds and Interest
paid
Totals
Beserve for redemption of United States
Notes acts of 1875 and 1882
Fund held for redemption of notes of National B a n k s ' ' failed,"'' in liquidation,"
and "reducing circulation"
Fund held for redemption- of National
Gold-Bank Notes
Five per cent. Fund for redemption of
National-Bank Notes
National-Bank Notes in process
of redemption
post-Office Department Account
Disbursing Offi.cers' Balances
Undistributed Assets of, failed ISfational
Banks
Currency and Minor Coin Bedemption
3, 524 75
•
10 50
107,370 95
315,849 97
426,756 17
490,317,972 64 207,289,261 23
100,000, 000 00
65, 515, 523 35
97,024 00
10,856,751 34
76,469,298 69
•
Fractional Silver Coin Bedemption Ac-
4, 929,621 29
22,676, 967 45
1,917,974 89
'
824,411 30
433,080 78
57,118 00
Interest Account, LouisviUe audI*ortland
Treasurer's Transfer Checks and. Drafts
Outstanding
Treasurer U. S., Agent for paying Interest on D. C. Bonds
6,307,180 95
346,184 73
35,574 564 50
10,318 15
Interest on D. C. Bonds p^aid
Totals
Balance..
Assets not available: 'Minor Coin
Fractional Silver
,
Coin
•AGGREGATE
492,246,265 68 419, 333 124 42
72, 913,141 26
296 021 76
26, 846, 612 76
27,142, 634 52
27,142, 034 52
519, 388 900 20 419, 333,124 42 100,055,775 78
62
REPORT ON THE FINANCES.
The balance in the Treasury at the close of the year ending September
30,1886, as shown by the books of this office, was $100,055,775.78, an
increase over that of 1885 of $16,815,636.05.
The available balance was $72,913,141.26, against $58,922,191.45 last
year, an increase of $13,990,949.81."
After eliminating all certificates and certain other liabilities, together
with the assets held to redeem thein, the following table will show the
increase or decrease in the various items of assets and liabilities during
the year:
Gold Coin and Bullion
Silver Dollars and Bullion
' .........
United States Notes
Deposits in National Bank Depositories
Disbursing Officers' Balances and Small Accounts
Total
Liabilities.
Increase.
$24,012,265 05
13, 611, 296 75
9, 698, 111 39
1,166, 772 10
Decrease.
National Bank Notes Public Debt and Interest thereon
Funds for the Bedemption of Natioual Bank Notes
Post-Office Departraent acootint
Treasurei''s Transfer Checks and Drafts oatstanding
Treasurer United States, agent, for paying interest
on District Columbia Bonds
Total
Decrease.
2, 581, 675 38
1,188, 863 15
$49, 677, 308 44
Increase.
"'2,'870,'416"24*
26, 693,619 63
2, on, 9Q3 71
1,335,773 81192, 879 86
2,581,675 38
33,104, 683 25
"
35, 686, 358 63
13,990, 949 81
3,320, 261 32
495, 575 08
^
Aggregate Balance increased
Tptal.
$1,188, 863 15
48, 488,445 29
:
increased Balance
Assets not available:
Fractional SiU'^er Coiu (increase)
Minor Coin (decrease)
Assets.
.
2, 824, 686' 24
16, 815, 636 05
63
TREASURER OF THE UNITED STATES.
Thefollowing table is published in order to explain the difference between the amounts appearing in the»statement of assets and liabilities
as made up from the statements of the several offices for September
30, 1886, showing their actual condition on that date, compared with
the statement published at the end of the same month, which is made
from'the latest reports received from the various offices.
There is a considerable difference between the two statements, and the
table will show the items which were increased or decreased in the period
from the date of publication and the date of the returns.
Balances.
Decrease.
Gold Coin and Bullion decreased
Gold Certificates actually outstanding decreased
$47, 884 05
382, 230 00
Gold Balance increased
,
Silver Dollars and Bullion increased
Silver Certificates actually outstanding in.
creased
.^
$334,345 95
17,715 55
523,140 00
' Silver Balance decreased
United States Notes increased
Currency Certificates actually outstanding
decreased
;
$505,424 45
1, 020, 560 05
90, 000 00
United States Notes Balance increased.
National Bank Notes increased
*.
Deposits in Depository Banks increased
1,110, 560 05
177, 663 00
2, 269, 032 93
Total.
- Net increase in balance
Ptiblic Debt and Interest:
Increase in liabilities
Increase in .paid items
Post-Office Department account increased...
Disbursing Officers' Balances decreased
Currency and Miuor Coin redemption account
increased
Fractional Silver Coin redemption account
decreased
Treasurer's Checks and Drafts outstanding
decreased
Increase.
3, 891,601 93
505,424 45
3, 386,177 48
$314,307 60
342,123 67
43,345 99
' "34,364'ii
204,851 48
138,254 00
1,078,117 87
Interest on District of Columbia Bonds paid,
increased
288 16
562,505 07
2,193,147 84
1, 630, 642 77
5, 016, 820 25
Fractional Silver Coin decreased .
Minor Coin increased
53,132 44
727 67
"'"52,*464'77
4,964,415 48
64
REPORT ON T H E FINANCES.
THE TREASURY
The following table shows where the funds constituting the Treasury
STATEMENT showing by offices the CHABACTEB
United States Bedeemed National-bank
notes and frac- certificates
of
notes.
tional currency. deposits.
Offices.
Treasury and sub-treasuries:
Washington......
. $4, 880,635 11
Baltimore .. . . . . . .
797, 686 00
NewYork
26, 310, 345 37
Philadelnhia
3, 817, 223 20
Boston
-.
1, 771, 013 00
Cincinnati . . . . . . . . . .
1, 947, 277 19
Chicago
2, 002, 477 00
Saint Louis
294, 769 00
New Orleans. =•»- - . . . . . . .
728,916 56
San Francisco
614,782 00
TTnited States mints;
Philadelphia
50,000 00
Coin...... . . . . . . . . .
Bullion
776 85
Denver
=
Bullion
New Orleans
.......
Coin
Bullion
San Francisco
Gold coin and
Gold
bullion.
certificates.
. $2,016,561 39 $24, 874, 548 15
$90,300
30,335 00
3, 605, 648 50
77, 530
29,705 00 90,517,014 50 36, 924,140
18,131 00
2, 574,745 00
1, 330, 570
71,255 00
11,446,110 50
598,810
15,000 00
6, 071, 585 00
30, 000
10,000
1, 022, 000 00
755, 000
10, 745 00
8, 481, 700 00
381, 700
10, 695 00
4, 340, 623 00
698, 500
26, 956,210 00
150, 000
$120,000
10, 000
70, 000
70,000
. 5,746,838 50
21,717,315 23
' 115,094 95 ,
26,920 00
488,795 29
3, 380, 620 op
1,771,594 81
Vnited States assay offices ?
Bullion
Bois6 Citv
Bullion
Charlotte
Bullion.
Helena
Bullion
Saint Louis
6,815 50
29,222,408 57
11, 611 03
12,792 99
13,388 32
..:
....
Bullion
In trdiiLsit l)6tween offices
Total
Less amount due depositors.
160,417 84
^
80,000 00
2,164,081 52
45, 391, 593 83
143,428 20
280, 000
2, 282,427 39
242, 561,134 32
41, 036,550
45,248,165 63
280, 000
2,282,427 39
242, 561,134 32
41,036,550
*45, 248,165 63
280, 000
t2, 282,427 39
242, 561,134 32
41, 036,550
Deposits held h j national
bank depositaries
:.
Old depositary accounts
Total
20 00
7, 927 67
NOTE.—No baUion is held in the sub-treasuries.
*U. S. notes $45,244,640.88; fractional currency $3,524.75; total $45,248,165.63,
f |j!cjt}d|ng ^1,9;7,974.80 nationjil-ban!^ iiotes ^n process of rec|^ipptioTif
TREASURER
OF T H E
UNITED
65
STATES.
BALANCES.
balance are held and the several kinds of moneys of which it is composed:
of the ASSETS of the TBEASUBY, September 30, 1886.
Standard silver
Silver
d o l l a r s a n d silcertificates.
v e r buUion.
Fractional
s i l v e r coin.
United
States
M i n o r c o i n . b o n d s , coupons,
interestc h e c k s , &c.
Unavailable
funds.
Total.
$51,048,674 00
$5,686,230
$2, 089, 907 84
$3, 782 96
3,070, 791 00
1,885,080
403,299 25
3.105 47
$369 84
26,704, 000 00
7,574,340
9,283,490 i 3
5, 372 84
70,830 35
10,436, 534 00
1, 385, 720
2, 894, 909 13
527 19
7, 712 76
22, 536, 072 28
251,358 00
4,568,170
822, 004 10
652 19
18,176 62
19, 617,549 41
50, 500 00
85,000
49, 740 00
915 00
2,051 64
8 252, 068 83
2 139, 412 00
278,000
1,571,771 do
281 05
3,131 23
10,076,192 00
142, 350
1,801,418 00
140 08
364 07
7,782, 072 28
21,189,378 15
1,272, 023 00 "
347, 960
22,941,297 00
537,023 80
1, 701 41
7,350,100 59
7, 800 47
18, 508 27
83,408 90
$90, 690, 639 45
9, 993, 845 06
$13, 818 78
680,891 53
167 69
197,443, 056 97
8, 618, 334 30
58, 020, 357 75
151,917 17
30,771,052 00
36, 517, 890 50
2, 407,^523 65
24,124, 838 88
90
08
777 83
115, 094 95
78
78
4,100,368 00
4,127,288 00
534,167 35
1, 022, 962 64
413,557 96
4,030 87
417,588 83
18, 397,167 00
. 21, 777,787 00
519,377 59
2, 290 972 40
274 20
13 26
287 46
4,725 00
11,540 50
416,387 43
29,638,796 00
11,611 03
12,792 99
13, 388 32
160, 417 84
20 50
2 17
22 67
20 00
8, 013 09
85 42
531 00
80,000
55,000 80
188,318 69
330,745 37
185,142,165 44
22,032,850
26,881,500 16
296, 021 76
433, 549 57
1,108, 268 27
567,446, 060 74
296y 021 76
433,549 57
1,108,268 27
567,164,282 14
214,761 38
116,897,047^ 71
J185,038,702 44
281, 778 CO
34, 887 40
103,463 00
185, 038,702 44
2,898,677 38
22,032, 850
22,032,850
26,846, 612 76
26,846,612 76
296,021 76
433,549 57
63,652 20
63,652 20
1,386,68185
584,124,982 05
t Including nnavailable $214,761 38.
X Silver bullion $3,877,541.44; silver dollars $181,161,161; total $185,038,702.44.
H. Ex. 2
5
66
REPORT ON T H E FINANCES.
The following table shows the excess of the cash assets of the Treasury, excluding certificates and other obligations held by it, over thenet
current liabilities other than United States notes, on October 31,1886,
as compared with the same day in 1885, compiled from the latest returns
received:
O c t o b e r 31,1886. O c t o b e r 31,1885.
Increase.
Decrease.
ASSETS.
Gold Coin
G o l d Bullion
..
$187,168, 509 40 $178,941,459 46
59, 663, 639 00 • 72,417, 889 83
.
246,832,148 40
Total
L e s s certificates a c t u a l l y o u t s t a n d i n g 88, 294, 969 00
251, 359, 349 29
109, 020, 760 00
158, 537,179 40
142, 338, 589 29
182, 931, 231 00
3, 807, 948 52
163, 817, 342 00
3, 840, 536 45
186, 739,179 52
Total
L e s s certificates a c t u a l l y o u t s t a n d i n g 100,306,800 00
167, 657, 878 45
93,146, 772 00
Gold B a l a n c e
'.
.
S t a n d a r d Silver DoUars
Silver Bullion
.
-- -
$16,198, 590 11
Silver B a l a n c e
86,432, 379 52
74, 511,106 45
United States Notes . .
L e s s certificates a c t u a l l y o u t s t a n d i n g
38,107, 305 27
7,140, 000 00
45,695,341-31
18,145, 000 00
United States Note Balance
30,967, 305 27
27,550,341 31
.3,192,745 73
5,438,240 80
16,266, 639 08
13, 595, 550 93
2,671,088 15
295, 396, 249 00
263,433,828 78
31, 962,420 22
Matured Debt and Interest
12, 548,927 49
2, 322, 743 86
Interest due and unpaid
5,126,208 25
Accrued Interest
I n t e r e s t d u e a n d u n p a i d , tPacific Bail34, 679 96
road Bonds
A c c r u e d I n t e r e s t , Pacific^ B a i l r o a d
I, 292, 470 24
Bonds
B e s e r v o for B e d e m p t i o n of U. S.
100, 000, 000 00
Notes
D i s b u r s i n g Officers' B a l a n c e s , & c . .. 22, 639, 29G 37
Outstandinf^ D r a f t s a n d C h e c k s
5, 601, 057 68
F i v e p e r c e n t . F u n d for B e d e m p t i o n
of N a t i o n a l B a n k N o t e s
10,424,631 04
F u n d for B e d e m p t i o n of Notes^ of
78,10.5, 363 60
failed, &c., B a n k s
4, 517, 610 53
Post-Office D e p a r t m e n t a c c o u n t 1
3, 953,689 76
2,250, 606 79
5,931, 309 25
8, 595,237 73
72,137 07
19,949 96
14, 730 00
. .
*National B a n k N o t e s
Deposits in National B a n k DepositoI'ies
Total N e t Assets
11,921,273 07
3, 416, 963 96
$2, 245, 495 07
LIABILITIES.
Total Liabilities
805 041 00
I, 292,470 24
100, 000, 000 00
22, 774, 534 08
4, 634,843 21
135,237 71
966,214 47
12,541, 912 74
2, l l 7 , 281 70
39, 510,138 85
3; 706,081 52
38, 595,224 75
811, 529 01
242, 613, 049 02
196, 615, 536 40
45. 997, 512 62
Available Balance
Assets not available:
M i n o r Coin
F r a c t i o u a l SUver Coin
52, 783,199 98
66,818,292.38
235,421 45
26, 300, 335 88
719,831 24
22, 965, 535 ""O
Total Balance
79, 318, 957 31
90, 503, 659 32
,
14,035, 092 40
484,409 79
3, 334, 800 18
11,184,702 01
* Includes National Bank notes in process of redemption.
DISBURSING OFFICERS' BALANCES.
In the statement made under the heading '^Sub-treasuries," etc., suggesting that a change should be made in the existing method of keeping
the Treasurer's accounts, the question as to the proper mode of making
advances for the credit of such officers is presented, and the Treasurer
expresses the hope that the subject will receive the earnest attention of
Oongress.
TREASURER, OF T H E UNITED STATES.
67
SUB-TREASURIES AND MINTS AND ASSAY OFFICES.
The Treasurer would again call attention to the large sums held by
the mints and assay offices. Having no opportunity to examine or
cause to .be examined these different offices, it is suggested that the
coins held in them should be placed in the actual custody of the
Treasury, and the duties of the mint officers be confined to the assaying and coinage of the bullion placed in their charge.
The present method of examination of the sub-treasuries is very unsatisfactory, and an appropriation should be made which would enable
the Treasurer to put these offices in good condition, and thus render the
work of annual examination more thorough, but less costly, hereafter.
The Treasurer begs leave to refer to a letter addressed to the chairman of the Committee on Appropriations of the House, under date of
April 27, 1886, relative to the needs of the sub»treasury system as it exists at present, in which his views are stated at length. That alterations'
should be made in the present system, in order that it may conform to
the financial changes which have taken place since this system was
adopted, does not admit of doubt. The annnal and daily transactions of
the Treasury have become so large, its. financial operations and movernents touch the interests of the people at so many points, that great
care shonld be taken to avoid any unnecessary, friction. As the country
increases in wealth and population, with the consequent increase of its
revenues and disbursements, it will be found impossible to continue the
system in its present formo With the extinction of the 3 per cent, bonds,
which, without some depression or event that cannot now be foreseen,
must take place during the ensuing fiscal year, the only bonds available
for the purposes of the sinking fund will be the 4J and 4 per cent, bonds.
These'are now selling at a price which averages very little more than. 2
per cent, per annum to the purchaser upon the cost, and it may fairly be
assumed that this rate of 2 per cent, is the maximum rate to be earned
during the life of these bonds. At the present cost of the collection of the
revenue of the country, say $3.70 per $100, the loss on the existing sinking fund, say $45,000,000 per annum, will be $765,000 annually, assuming 2 per cento as the best rate which the bonds can earn.
Without discussing the consequent possible derangement of our existing financial systemif the purchases for the sinkingfund are to be maintained at their present figures, it will befound to be impracticable to make
these purchases at such times and in such manner as to relieve the money
market in times of financial distress. As these derangements happen
almost invariably at the time ofthe moving of the crops of the country,
this statement is equivalent to saying that every jjroductive interest in
the country must pay toll to foreign buyers, through the lower range of
prices .which obtain at such, times, because of the fact that our arrangements for collecting and disbursing our revenues are so defective as
68
, REPORT ON THE FINANCES.
to need an artificial and violent remedy in order to place in active
circulation the moneys withdrawn from the business of the country.
This method of dealing with the public moneys is not true of any
country but this, and the practical sense of the American people, as
shown through its representatives in Congress, should be adequate to
find a remedy for this constantly recurring evil—one sure to grow and
become more burdensome in our future national history. This remedy
should be found and adopted with the coming session of Congress, because the evil complained of will be upon us before its next meeting,
and the Treasury left without any means of supplying the urgent needs
of the country.
S T A T E M E N T showing the ASSETS and L I A B I L I T I E S of UNITED STATES MINTS andAi^SAY O F F I C E S June 30, 1886.
^
ASSETS.
SILVER BULLION.
GOLD BULLION.
Institulions.
Standard
weight.
Value.
Standard
weight.
Value (cost).
Gold coin.
Silver coin.
Minor
coin.
Value of
Minor
bullion
coinage shipped
for
metal.
coinage.
Old deficiencies
brought
forward.
CO
Total.
Coinage mints:
, Ounces.
Ounces.
$57, 622, 520 84
Philadelphia 1,131,491,016 $21,050,995 51 1, 682,149. 38 $1, 527,199 56 $6, 530, 970 00$28, 463, 228 04$4, 003 51 $46.124 22
*$413, 557 96 25,158, 579 57
San Francisco
56, 748, 258 .'1,055,781 56 409, 652. 28 377, 726 21 4, 074, 820 00 19, 236, 693 84
5, 012,353 86
35,770 00 3,436,487 77
25, 702, 407
478,184 31 1,171, 565. 54 1, 061, 911 78
j^ew Orleans
Assay offices:
48,437,764
18
500,
557
08
28,
068,
584
84
70,
537
27
501,189.17
New York1, 064,147,080 19,798,084 99
t$t08,623 85
43, 995' 68
Denver..
"" 152, 619 53
144,000
38
111,
355
35
1,
020
38
9,
359
70
Helena
1,148.
00
56, 974 89
3, 0G2,400
10,174 32
t4,444 44 §11,611 03
37, 910 12
134 41
152.00
Bois6City....
11,545 92
620,593
ll,-442
31
16,941
48
18,
383
79
Charlotte
13, 832 90
16,767 20
Saint lioni«j
79.90
71 25
2,863 05
153,891
*32,000
00
32,000 00
Charlotte a
*27,950 03
27, 950 03
Dahlonesraa
2, 281, 925,645 42,454,430 23 3,765,936.27 3,468, 620 67 38, 798, 949 75 51, 206,946 92 4, 003 51 46,124 22 164, 010 15 485,119 02 136, 628, 204 47
Total
p^
y^
CJs
-=1 B^ f::^
o
p©
p ^
P
~ ^
CO P"
-
o
B-
CD
^
•P
CD
GO OJ
0 0 CD
P-
^
frp
02
o
H
W
•-b
P O
P
LIABILITIES.
QO
CD
"^
B
m
cri•
Institutions.
Coinage mints:
Philadelnhia
Assay offices:
Denver
Bois6 Citv
Cbarlotte
Dahlonega a
Total
Bullion fund. Undeposited
earnings.
$346, 834 99
21, 866 96
184, 499 49
$57,107, 684 08
25,135, 348 23
4,827,780 58
48,306,799 59
151,172 93
109,734 22
37, 826 93
17,735 07
16,674 13
32,000 00
27,950 03
; . . . . . 135, 770,705 79
Seignorage
on silver.
$15,697 20
1,446 60
1, 621 13
83 19
648 72
16 76
19, 513 60
$117, 874 04
1,364 38
73 79
Minor coin
profits.
$57 73
Minor coin Unpaid cent
metal fund. depositors.
$50,000 00
$70 00
115,267 39
553,201 44
234, 655 91
Total.
$57, 622, 520 84
25,158, 579 57
5, 012, 353 86
48, 437,764 18
152,619 53
111, 355 35
37,910 12
18, 383 79
16,767 20
32,000 00
27, 950 03
7631
* Deficiencies in bullion fund incurred prior to organization of Mint Bureau.
f Included in bullion balance of New York assay-office.
Included in bullion balance of Philadelphia Mint.
a Old account.
Unpaid
depositors.
57 73
50,000 00
70 00
P-
O
H
Pt C5
M
d
I*
o
»-.
CD
I—•
CD
QQ
CD
02
Q.
CP
<
P
Hi^
P
aB-
S
p
CD
136,628,204 47
§ The deficiency in the cash of N. H. Camp's account when suspended May
15, 1885, of which $11,857.37 belonged to the bullion fand and $666.30
consisted of profits, has since been reduced by $912.64.
02
w
S ^
70
REPORT ON THE FINANCES.
DEFICITS, UNAVAILABLE FUNDS.
The unavailable funds were decreased by the following items: A^re-duction of the amount of the,deficit at the of&ce of the assistant treasurer of the United States in ^ e w Orleans, La., of $3,700.05, a reduction
of the amount of deficit in the United States assay office at Boise City,;
Idaho, of $246.34; making a total decrease of $3,946.39.
UNAVAILABLE F U N D S of the GENEBAL TBEASUBY and of the POST-OFFICE
DEPABTMENT.
GEKEEAL TREASURY.
On deposit with the following States under the act of
June 23,1836:
Maine
NewHampshire
Vermont..
Massachusetts........
Connecticut
Rhodelsland..'.
NewYork
Pennsylvania
NewJersey
Ohio
Indiana
Elinois
Michigan
Delaware
Maryland
Virginia...
North Carolina
South Carolina
Georgia
Alabama
Louisiana
Mississippi
Tennessee
Kentucky
Missouri.
Arkansas.
-^
.„
-
>
$955,838 25
669,086 79
669,086 79
1,338,173 58
764,670 00
382,335 30
4,014,520 71
2,867,514 78
764,670 60
2,007,260 34
860,254 44
477,919 14
:
286,75149
286,751 49
955,838 25
2,198,427 99
1,433,757 39
1,051,422 09
1,051,422 09
669,086 79
477,919 14
382,335 30
1,433,757 39
1,433,757 39
382,335 30
286,751 49
Total on deposit with the States
t
Default, Sub-Treasury U. S., New Orleans, La., 1867, May &
Whitaker.'..-.
675,325 22
Sub-Treasury U. S. New Orleans, La., 1867,, May
property
5,566 31
Deficit, Sub-TreasuryU. S., NewYork, N. Y., 1867, counterfeit .
7.30'8
4,392 91
Sub-Treasury U. S., New York, N. Y., 1867 to 1880....
9,425 87
Deficits and defaults, Branch Mint U. S., San Francisco, Cal.,
1857 to 1869
Failure, Venango National Bank of Frankliu, Pa
First National Bank of Selma, Ala
Default, Branch Mint U. S., Dahlonega, Ga., 1861
Branch Mint U.S., Charlotte, N . C , 1861
Depository U. S., Galveston, Tex., 1861
Depository U. S., Baltimore, Md., 1866
Depository U. S., Pittsburgh, Pa., 1867
Deficit, Depository U. S., Santa F6, N. Mex., 1866, short in remittance
$28,101,644 9l
$694,710 31
413,557 96
181,177 51
33, 383 87
214,561 38
27, 950 03
32,000 00
778 66
547 50 v
2,126 11
> .
249 90
Deficit, Sub-Treasary U. S., New Orleans, La., 1885
21, 641 56
Default, U. S. Assay Office, Bois6 City, Idaho, 1885 (N. H.
Camp's account)
".:
11, 611 03
——^
Total General Treasury
1
63, 652 20
1,386,48185
33, 252 59
1,419,734 44
29,521,379 35
POST-OFFICEDEPARTMENT.
Default, Sub-Treasury U. S., New Orleans, La., 1861
Depository U. S., Savannah, Ga., 1861
Depository U. S., Galveston, Tex., 1861
Depository U. S., Little Rock, Ark., 1861..:
Total
31,164
205
83
5,823
:
.
44
76
36
50
37,277 08
29,658,656 41
TREASURER <Q)F-THIS "UNITED STATES. '
71
The Treasurer renews his recommendation of the report of 1885, that
steps be taken to so change the method of keeping the accounts of the
Treasury Department that its actual condition may be shown when
called upon, and the character of the assets and liabilities be accurately
stated.
THE SINKING FUND AND PUBLIC DEBT.
Eeferring to Tables I^os. 46 and 47, in the Appendix to this report,- it is •
suggested that a revision of the method heretofore adopted in making
up the sinking fund be made, and that the annual payments on account
of this fund conform therewith. I t will be seen that by the present
method the ^^ entire debt^' of the United States will be retired by the
year 1908. If the method suggested in the report, page 105, be adopted
this debt will be extinguished by the year 1913. Any reduction ofthe
public debt in excess of the annual requirements of the sinking fund
will, of course, hasten the period of its total extinction,
STATEMENT showing the FOBMEB' and the PBOPOSED MANNEB of ExSTIMATI N G the SINKING-FUND CEABGE for thefiscal year 1887.
According to former method the estimate is made as follows:
1st. 1 per cent, of the principal of the debt, including coin and
currency certiticates outstanding and in the cash of the
Treasury on June 30, 1886, and excluding bonds issued to
Pacific Railroad Companies
2d. Interest accruing for one year on previous years' retirement
of debt, as follows:
*6 per cent, bonds* Matured certificates of indebtedness (4 per cent.)
Compound-interest notes and small items (6 per cent.)
United States legal-tender notes, non-interest bearing
Fractional currency, non-interest bearing
Old demand notes, non-interest beariug
Atotalof
Upon which interest is estimated to be accruing at 6 per cent
Seven-thirty notes
1,950 00
,
Total principal of debt in sinking fund
Aggregate of 1 per cent, of debt and one year's interest on
securities retired prior to July 1, 1886
3d. One year's interest at 3 per cent, bn this amount
Total sinldng-fund charge
The proposed manner is as follows:
1st. 1 per cent, of the principal of the debt, excluding coin and currency certiflcates outstanding and in cash of the Treasury, and amount reserved for the redemption of legal-tender
notes
2d. Interest for one year on the debt in the sinking fund, at the
rates which the bonds would now bear if they had been re. funded; and at the present rate (3 -per cent.) on debt bearing
no interest, as follows:
4 per cent, upon the items above marked *
.".
3 per cent, upon all other items
Making a total of....
Total sinking-fund requirement
A reduction of
19,245,512 70
142 35
690,300,00
68,666,700 00
1,490 00
"^
3d. One year's interest at 3 percent, on $36,346,076.11
$264,805,^100 00
678, 000 00
5, 660 00
29, 090, 564 00
26,178,715 96
505 00
320,758,544 96
*10-40s of 1864, 5per cent
Fundedloanof 1881, 5 p e r c e n t
One-year notes, 5 per cent
Atotalof
Upon which interest is estimated at 5 per cent
*Consol3of 1907, interest at 4.per cent
Bonds continued at3^ per cent
Loan of 1882, interest at 3 per cent
$17, 750,630 14
69,358,490 00
1,500,00000
137,466,600 00
101,880,950 00
8,467,924
60,000
4,811,331
3,056,428
50
00
00
50
630,966, 534 90
48,391,969 19
1,451,759 08
49,843,728 27
14,740,346 08
267,673,400 00 10,706,936 00
363,293,134 96 10,898,794 05
630,966,534 96 36,346,076 11
1,090,382 28
..-37,436,458 39
i . . . 12,407,269 88
72
REPORT ON THE FINANCES.
UNITED STATES NOTES.
The following table shows the amount of each denomination of United
States notes outstanding at the close of the last four fiscal years and on
November 30,1886:
1883.
Denomination.
1884.
$27, 736, 456 80 $26, 660,184 80
One dollar
25, 524, 394 20
24, 897, 886 20
T w o dollars
71,150, 085 00 • 75, 552, 915 00
F i v e dollars
.
72,732,886 00
69, 527, 016 00
T e n dolla.rs
..
62, 346, 909 00
58, 054, 629 00
T w e n t y dollars
23,985, 895 00 •^23, 208, 895 00
Fiftydollars
33, 640, 990 00
O n e ' h u n d r e d d o l l a r s . . . 34, 302, 390 00
16, 914, 000 00
F i v e h u n d r e d d o l l a r s . . 15,098,500 00
19. 034, 500 00
One t h o u s a n d d o l l a r s . . 14, 328, 500 00
315, 000 00
130, 000 00
Five thousand dollars.
160,000 00
60, 000 00
Ten thousand dollars..
347, 681, 016 00
N o v . 30, 1886.
1886.
1885.
$24, 952,061
25, 295, 0,69
75, 997, 805
64,539,386
55,126,509
23,459,895
32, 896, 790
16, 557, 000
28, 716, 500
100, 000
40, 000
80
20
00
00
00
00
00
00
00
00
00
Total
L e s s u n k n o w n denominations destroyed in
s u b - t r e a s u r y i n Chicagofire'
347, 681, 016 00
1,000, 000 00
1, 000, 000 00
1,000,000 00
Outstanding
346, 681, 016 00
346, 681,016 00
346; 681, 016 00
347, 681, 016 00
$17, 603, 922
18,204,369
85, 629, 219
66, 658, 661
55,078,379
23, 291, 265
31, 359, 700
12,424, 000
37,361,500
60, 000
10, 000
40 $14, 319, 238 60
60 14. 938, 315 40
00 97,990,310 00
00, 71,257,924 00
00 56,745, 463 00
00 21, 698,945 00
00 29, 232, 820 (0
00
8,495, 500 00
00 32, 942, 500 00
00
50, 000 00
00
10, 000 "'OO
347, 681,016 00 347,681,016 00
1,000, 000 00
1,000,000 00
346, 681, 016 00 346,681, 016 00
Thepresent business season, which began much earlier than usual,
has absorbed a large amount of currency, and this increased movement
lias not yet ceased. There has been shipped from the Treasury at
Washington and other jjoints, since July 1,1886,thefollowing amounts
and kinds of sinall currency :
.
Legal-tender
Legal-tender
Legal-tender
Legal-tender
Legal-tender
notes,
notes,
notes,
notes,
notes,
$5
$10
$20
$50
$100
-
Various denominations and kinds
Silver certificates, $1
Silver certificates, $10
\
Silver certificates; $20.:
$14,055,135
6,979, 330
1,969, 940
147, 500
194, 300
00
00
00
00
00
$23,346,205 00
152,090 00
,..
4,744,606 00
6,555,850 00
' 2,239,640 00
13,540,096 00
Standard silver dollars:
Payments during same period, $24,328,558. Increase of outstandingFractional silver coin:
Payments during same period, $4,177,929. Increase of outstanding
Total of all kinds
9,291,728 00
3,096, 614 00
49,426,733 00
TREASURER OF THE UNITED STATES.
.73
The reduction of the available Treasury balance during same period
is as follows:
July 1, 1886
November30, 1886
$75,191,109 00
40,093,556 00
:
$35, 097, 553 00
—
76,044,375 00
90,520,633 00
14,476, 258 00
Increase in circulation of gold certificates during same period:
Outstanding J u l y l , 1886.......
Outstanding November 30,1886
Increase in circulation of silver certificates during same period:
Outstanding July 1,1886
Outstanding November 30,1886
88,116,225 00
105,519,817 00
,
Increase in Treasury, gold and bullion:
I n Treasury July 1,1886
In Treasury November 30,1886
Increase in Treasury, standard silver dollars and bullion:
In Treasury July 1,1886
,
I n Treasury November 30,1886
Increase in Treasury, legal-tender notes during same period:
InTreasury July 1,1886
I n Treasury November 30,1886
17, 403, 592 00
232,838,123 00
254,450,853 00
^
184,345,764 00
189,003,32100
.
21,612, 730 00
4, 657, 557 00
22,868,316 00
29,548,188 00
6, 679,872 00
United States notes redeemed in coin during the fiscal year at the
office of the Assistant Treasurer of the United States in Kew York, under the act of January 14, 1875, amounted to $6,863,699. The total redemptions under the above act to November 30, 1886, amount to
$25,120,793.
The changes which have taken place in the various denominations of
United States notes in circulation during the last three fiscal years^ and
for July, August, and September of the present year, appear in the
following table:
CHANGES in DENOMINATIONS of UNITED STATES NOTES in CIBCULATION.
1884.
Denominations.
Issued.
One dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One thousand dollars
F i v e t h o u s a n d dollars ..
T e n t h o u s a n d dollars . . .
. Total
Redeemed.
. Decrease
Increaae
in
in
circulation. circulation.
$8, 943, 236 $10,019, 508
7,808, 000
8,434, 508
23,420, 000
19, 017,170
12,160, 000
15, 365, 870
9.280, 000
13, 672, 280
4, 200, 000.
4,877,000
5, 237, 000
5, 898,400
4, 900, 000
3, 084, 500
10, 000, 000
5, 294, 000
185, 000
vlOO, 000
$1, 076, 272
626, 508
85, 948,236
10, 924,330
85, 948, 236
1886.
1885.
Issued.
Redeemed.
$10,187,153 $11,895,276
10, 850, 000 10,458,817
19, 300, 000 18, 855,110
9, 640, 000 14,627,630
9, 760, 000 12, 688,120
4, 800, 000
4, 549, 000
5, 600, 000
6, 344, 200
1, 815,500
2, 350, 000
2, 707, 000
4, 706,000 12,000, 000
2, 318, 000
3Q, 000
20, 000
$4,402,830
3, 205, 870
4, 392, 280
677, 000
661,400
185, 000
100, 000
10,924,330
84,493,153
84, 493,153
Increase
Decrease
in
in
circulation. circulation.
Issued.
Redeemed.
Decrease
Increaae
iu
in
circulation. circulation.
$397,183
444,890 $21, 320, 000
9, 960, 000
4,987,680
7,120, 000
2, 928,120 „
2, 000, 000
251, 000
4,700, 000
744, 200
400, 000
357, 000
9,682,000 17, 500,000
30, 000
20, 000
$7,348,139
7,090,700
11, 688, 586
7, 840, 725
7,168,130
2,168, 630
6, 237, 090
4, 533. 000
8, 855, 000
40, 000
30,000
$7, 348,139
7,090, 700
10,775, 073
63, 000, 000
20, 395, 689
$1,708,123
•
10,775, 073
•
63,000,000
$9, 631,414
2,119, 275
48,130
168, 630
1, 537, 090
4,133, 000
o
8, 045, 000
40, 000
30, 000
o
20,395, 689
W
J u l y , 1886.
Denominations.
Issued.
Redeemed.
Increase
Decrease
in
in
circulation. circulation.
$551, 485 80 $551,485 80
One dollar
587, 582 20
T w o dollars
587,582 20
$1,580,000
1,
203, 086 00
F i v e dollars
695, 032 00
T e n dollars ..
695, 032 00
640, 000
638, 054 00
T w e n t y dollars
866, 570 00
Fifty dollars
866, 570 00
1,124,190 00 1,124,190 00
One h u n d r e d dollars
F i v e hundred dollars
. 120, 000 00
120, 000 00
O n e t h o u s a n d d o l l a r s . . . 8, 648, 000
82, 000 00
F i v e thousand dollars . Ten thousand dollars .. Total
5 868, 000 5, 868, 000 00 3, 944, 860 00
S e p t e m b e r , 1886.
A u g u s t , 1886.
Issued.
Redeemed.
Decrease
Increase
in
in
circulation. circulation.
$504,901
539,165
3,566,000
$504, 901
539,165
1,108, 824
602,448
616, 622
225, 350
232, 690
98,- 000
1, 512, 000
225, 350
232, 690
98, 000
1, 512, 000
3, 944, 860
5,440, 000 . 5,440,000
3,112,106
$376,914
1,946
$2, 640, 000
1, 440. 000
1, 360, 000
Issued.
$1, 531,176
837, 552
743, 378
$6,000,000
1, 600, 000
320,000
3,112,106
7, 920, OGO
Redeemed.
Decrease
Increase
in
in
circulation. circulation.
$1,188, 300
1, 035, 300
1,103, 250
521,000
560, 000
178, 450
190, 700
853, 000
2, 290, 000
$1,188, 300
1, 035,300
7, 920, 000
5, 975, 750
i •
Ul
$4,896,750
1,079,000
240, 000
1.78,450
190, 700
853, 000
2, 290, 000
5, 975,750
TREASURER OF THE UNITED STATES,
75
In the Appendix will be found tabular statements of the redemptions
of legal-tender notes by denominations and fiscal years. Believing that
the currency question will receive a large part of the attention of Oongress during its coming session, an earnest endeavor has been made to'
furnish all the information bearing on this subject which comes within
the province of this office.
Attention is again called to the fact that in the so-called "reserve
vault^^ lies $147,898,000 of paper money, prepared for issue without
authority of law, and legislation i s requested that will permit of its
legal disposition.
CERTIFICATES OF DEPOSIT, ACT OF J U N E 8 , 1 8 7 2 /
The deposits of legal-tender notes by national banks during the year,
for which they received certificates issued under authority ofthe act of
June 8, 1872, amounted to $47,650,000; the amount of certificates redeemed was $58,825,000; the amount outstanding at the close of the
year was $18,110,000.
" ^
;
The amount outstanding November 30, 1886, was $7,025,000.
The Treasurer again desires to call attention to the fact that these
certificates are furnished at considerable expense and risk to the Government, without any benefit. This large amount of money, being held
in trust for the banks, is liable to be paid out at any moment, and
cannot.be made available, under the law, for use in any of the financial
transactions of the Treasury.
It simprly adds to the already great responsibility of the Treasury,
being subject to loss by p>eculation, carelessness, or fire.
It is recommended that all expense attending the issue of such certificates be borne by the banks who are benefited.
The following table shows the aggregate issues and redemptions and
amounts outstanding for each year from the date of the first issue:
Fiscal year.
/
;4
/ -675
I 1876
/ ' 1877
' • 1878
' 1879
1880
1881
1882
1883
1884
1885
1886
Outstanding,
Total amount Total amount
as shown
issued.
redeemed,
by the Treasurer's books.
$57,240, 000
137,905,000
219,000, 000
301,400, 000
378, 285, 000
464,965, 000
554, 730, 000
601,785, 000
612, 850, 000
629, 760, 000
649,790, 000
676, 660, 000
733,215, 000
780,865, 000
$25,430,
78, 915,
159, 955,
268, 260,
324,305,
418, 720,
525,400,
588, 660,
601, 235,
616,400,
636, 610,
664,430,
703,930,
762,755,
$31, 810,000
990,000
045, 000
140, 000
980,000
245, 000
330,000
125, 000
615, OCO
360, 000
180,000
230,000
285, uOO
110,000
N O T E . — T h e a m o u n t s o u t s t a u d i n g differ from t h o s e s h o w n b y t h e P u b l i c D e b t S t a t e m e n t s , f o r t h e
r e a s o n t h a t t h e r e p o r t s of i s s u e s a n d r e d e m p t i o n s of t h e l a s t d a y s of t h e fiscal y e a r a t t h e s e v e r a l ofl&ces
do not reach t h e Department until after the statements o f t h e debt are made np.
76
REPORT ON T H E
FINANCES.
GOLD CERTIFICATES.
. The gold certificates of the old issue, under the act of March 3, 1863,
outstanding at the close ofthe fiscal year, amounted to $2,427,420, the
redemptions during the year having been $134,860.
Of the new issue under the act of July 12,1882, there were nominally
outstanding at the close of the fiscal year $128,746,825; the Treasury
offices held $55,129,870 (compared with $13,593,410 at the close of 1885),
leaving actually in circulation $73,616,955, a decrease of $50,550,495
in the year.
On November 30,1886, the amount of the certificates of the new issue
outstanding had decreased to $122,581,607, but of this amount only
$88,111,913 was actually in circulation, the certificates held in the
Treasury offices having deicreased to $34,469,694.
The issues and redemptions during the fiscal year, and the amounts
outstanding at its beginning and close, are shown below:
Issued.
Denominations.
T w e n t y dollars
:Fifty d o l l a r s . . .
One h u n d r e d d o l l a r s . .
Five hundred dollars.
One thousand d o l l a r s .
Five thousand dollars.
T e n t h o u s a n d dollars .
Total
Redeemed.
During
fiscal y e a r .
T o J u n e 30,
1886.
Outstanding
J u n e 30,1886.
During
T o J u n e 30,
1886.
fiscal y e a r .
$12,343,760
10,443,800
9, 527, 800
14,120, 500
22,120, 000
14,085,000
55,120,000
$640, 000
100, 000
100, 000
200, 000
$15, 920, 000
13,300,000
12, 200, 000
17,300,000
26, 000, 000
22,'500, 000
. 85,000,000
$1, 007,290 $3, 943, 530
825, 845
3, 582, 045
6a3, 900
3, 256,100
'050, 000' 3, 929, 500
3, 842, 000
7,722, 000
655, 000
9, 070, 000
2, 090, 000 31, 970, 000
$11,976,470
9, 717, 955
8, 943, 900
13, 370, 500
18, 278, 000
13,430,000
53, 030, 000
137,760,860
1, 040, 000
192, 220, 000
10, 054, 035
128,746, 825
Outstanding
J u n e 30,1885.
63, 473,175
The remarks in regard to currency certificates apply with equal force
to the issue of these certificates, with the further objection that the accumulation of the large amounts held in the Treasury renders it the constant object of attack, and at no remote day a great source of danger to
the best financial interests of the country. If, as the result of the withdrawal of all notes under the denomination of ten dollars, the gold now
in the Treasury were absorbed, as well as a subsidiary silver currency,
into the general circulation of the country, it would render unnecessary
the costly methods at present in use, and materially strengthen the credit
of the currency now outstanding. I t is upon the paper money, or credit
system, of a country that the first effects of war, bad crops, or disastrous
accidents fall, and no better guarantee of the stability of the monetary
affairs ofa nation has hitherto been found than the existence of a large
mass of metallic moneys among the people, which can be drawn upon to
sustain the credit of its paper indebtedness in time of need.
TREASURER OF THE UNITED STATES.
77
SILVER CERTIFICATES.
The amount of silver certificates nominally outstanding at the close
of thefiscal year was $115,977,675, of which amount the Treasury held
$27,861,450, leaving $88,116,225 in actual circulation ] a decrease of
$13,414,721 during the year. The table below gives the amount of those
redeemed and issued during the year:
Denomination.
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One thousand dollars
Total
-- -
Redeemed.
Issued.
Outstanding
J u n e 30,
1885.
D u r i n g fis- T o J u n e 30, D u r i n g fis- T o J u n e 30,
cal y e a r .
cal y e a r .
1886.
1886.
Outstanding
J u n e 30,
1886.
$51, 747,127 $3,800,000
52, 010, 904
800,000
7, 654,035
9, 878, 520
8, 910,000
9, 701, 000
$81, 834,000
73,986,000
11, 050, 000
14,140,000
13, 650, 000
23, 490, 000
$5, 277, 740 $31,564,613
29, 028, 372
7, 853, 336
3,665,160
269,195
4, 529,180
267, 700
11, 815,000
7, 075,000
7, 781,000 ' 21,570,000
$50, 269, 387
44,957, 628
7, 384,840
9, 610, 820
I, 835 000
1,920,000
139, 901, 646
218,150, 000
28, 523, 971
102,172, 325
115,977,675
4, 600, 000
The amount nominally outstanding on June 30, 1886, has since been
added to by the demands of reviving business to the extent of $3,679,427,
the amount held by the. Treasury decreased tOi $14,137,285, and the
amount now in circulation, November 30, is $105,519,817.
To measure the difference between the redemption of this class of
money in times of depression and in and through a revival of business,
I beg to call your attention to the table of percentages of kinds of
money received through the customs on page 37 of this report. At the
close of 1885, with an actual circulation of $101,530,946 of silver certificates, the custom-house receipts of this kind of money at New York were
35.6 per cenfc. of the total receipts at that point. At present, with a circulation of $105,519,817 and with larger customs receipts, the percentage
received at New York is 12.2 per cent. With due care, regard being
had to the denominations in which these notes are issued during the
present revival of business, their use will be largely increased. This is
true especially of the one, two, and five dollar notes, so far as the sphere
of usefulness in business for these denominations permits; but any attempt to force them, or. in fact, any particular denomination, into use
results in the discredit of the notes so issued and their rapid return
into the Treasury. . The only present limitation upon the issue of these
denominations is that of the physical labor necessaryto prepare and
put them in circulation. ; In order to do this as rapidly as possible it
will be necessary to increase the force at the Bureau of Engraving aud
Printing and at this office to the extent necessary to produce these notes
in sufficient amount to meet the public demand.
78
REPORT ON T H E FINANCES.
STANDARD SILVER DOLLARS.
*
The following table shows the amount of silver dollars coined, on
hand, distributed, and outstanding at the close of each year since the
enactment of the law authoriziug. their coinage. I t also shows the per
centage ofthe distribution to the annual coinage, and of the outstanding to the total amount coined.
Fiscal year
ending
J u n e 30—
1878
1879
1880
1B'81
1882
1883
1884
1885
1886
Annual
, coinage.
$8, 573, 500
27,227, 500
27, 933,750
27, 637, 955
27, 772,075
28, 111, 119
28,099, 930
28, 528, 552
29, 838,905
Percentage
O n h a n d a t N e t d i s t r i b u - O u t s t a n d - of d i s t r i b u - P e r c e n t a g e
Total
t i o n d u r i n g i n g a t close t i o n t o a n - of o u t s t a n d close
of
coinage. .
year.
of y e a r .
year.
n u a l coin- i n g to t o t a l
coinage.
ago.
$8,573, 500
35,801, 000
63, 734,750
91,372,705
119,144,780
147,255, 899
175,355, 829
203, 884, 381
233,723, 286
$7,718, 357
28,358, 589
45,108. 296
03, 249, 300
87, 524,18 i
112, 362, 510
135, 810, 368
165, 535, 854
181,253, 566
$855,143
6,587,268
11,184,043
9,496, 951
3,497,193
3,272, 791
4,652,072
—1,196,934
14,121,193
.
$855,143
7,442,411
18, 626,454
28,123, 405
31,620,598
34, 893,389
39, 545, 461
38, 348, 527
52,469,720
9.9
24.2
40
35:8
12.6
11.6
16.5
47.3
9.9
20.8
29.2
30.8
26.5
23.7
22.6
18.8
22.4
The following table shows the amount of standard silver dollars and of
fractional silver coin in each office of the Treasury on September 30,1886,
and on that date last year:
Standard silver dollars.
Fractional silver coin.
Office.
Sept 30,1885. Sept. 30,1886. Sept. 30,1885. Sept. 30,1886.
Treasury United States, Washington..
Assistant Treasurer United States:
Baltimore
—
Boston
»
Chicago
Cincinnati
^ e w Orleans
^ e w Tork
Philadelphia
\San Francisco
Saint Louis
United States Mint:
Denver
Carson City
JSf^ew Orleans
Philadelphia
San Francisco
United States Assay-ofiice:
!Kois6 City
Charlotte
Helena
New York
Saiut Louis
$14,334,245
Total...
Add amount in transit between ofiices.
154, 509, 380 181, 264, 09323, 602,776 84 26, 826,499 36
11, 069, 000
531
55, 000 80
Deduct amount reqiiired tofillorders unpaid,
165, 578,380
147,297
Total.-..,
$51, 048, 674 $264.274 28 $2, 089, 907 84
3,380, 708
687, 805
7, 322, 000
737, 000
10,112, 004
28,900, 000
10, 009, 330
21, 000, 000
10,119,400
3, 070, 791
251, 358
2,139,412
50, 500
1, 272, 023
26, 704, 000
10, 436, 534
22, 941, 297
10, 076,192
18, 080
4,042,165
14, 441,005
29,404, 002
4,100, 368
30, 771, 052
18,397,167
1, 624
12
165, 431,083
4,725
538, 935 70
1,393,974 00
4,147, 010 00
149,725 00
719, 901 80
2, 954,122 32
3, 631, 380 00
7, 496, 281 80
2,237, 080 00
98
7, 047 76
62
51, 523 89
11,452 74
48 45
17 50
403, 299 25
822,004 10
1, 571,771 00
49, 740 00
537, 023 80
9, 283, 490 13
2,894,909 13
7, 350,100 m
1,801,418 OO
90
78
18, 508 27
4,030 87
274 20
20 50
181,264, 624 23, 602,776 84 26,881, 500 16 .
103,463
76,425 40
34,887 40
23, 526. 351 44 26, 846, 612 76
TREASURER OF THE UNITED STATES.
79
The amount of standard silver dollars coined^ on hand, distributed,
and outstanding, at the close ofthe year, and up to November 30, is shown
by the tables on pages 96 and 97 in the Appendix. The percentage of distribution and cost is also given. As will appear by these tables, there is
now in circulation the sum of $61,761,448, the largest sum yet attained
in the circulation of this kind of currency. From the changes observed
'in the tables above referred to it can safely be deduced that the maximum
of I circulation has been obtained, or if not fully attained, will be by the
time this report reaches Congress. I am of the opinion that $65,000,000 is
tbe extreme limit which may be obtained. It certainly cannot be maintained at that sum when the new silver $1 and $2 certificates are in full
supply, A return to the Treasury of at least one-half of the amount
now in circulation must be looked for. Assuming the correctness of
these views, and the experience of the Treasury for the past year fully
sustains me in expressing these opinionSj the sum now and to be spent
in the continued purchase ofsilver bullion and its coinage into standard
silver dollars leads one to ask whether, if the further purchase of the
silver bullion be determined upon, the coinage might not cease, and
the sum which this costs be saved to the public Treasury? The amount
expended so far upon the coinage of the silver dollar, outside of tho
cost and consequent loss upon the purchase of the bullion, amounts to
$4,933,467.72. All of the cost, in excess, say, of the cost of the coinage of
the sum of $75,000,000, represents pure loss, and amounts, at 2 cents per
dollar, the cost of these coins, to $3,433,467.72. To add to this loss would
seem unnecessary, and the sum could be expended in the purchase ot
thafc amount more of the silver bullion. The adoption of this plan
would at least have the merit of adding just so much to the credit of
the silver profit fund. The aggregate amount of these coins moved
by the Treasury to September 30, 1886, has reached the sum of $722,040,141. The amount transferred to and from the Treasury and subtreasuries for purposes of payment and shipment was $90,855,000; the
sum distributed through the country by payments over the counter
amounted to $145,732,722, and the shipments by express amounted to
$158,336,195. The expenses for transportation have amounted to $774,758,92, or $1.96 per $1,000 handled. The amount coined from July 1,
1885, to September 30, 1886, was $37,185,905; the amount moved
from the mints during the same period was $13,768,802; the difference
amounting to $23,417,103 has been uselessly added to the coinage of
the country. The cost of transportation is greater from these offices,
and not a dollar of the ainounts moved need have been transported,
as the supply in the sub-treasuries is ample for all the requirements
of the public. The shipments from the mints were made in order to
save as much of the appropriation for, the transfer and free shipment
of silver coin as possible, as the cost of such shipments is borne by the
silver profit fund when the shipments are made fe-om these offices.
80
REPORT ON THE FINANCES.
The cost to the Government for transportation of these coins averages
$1.96 per $1,000, and the cost to the people of their return to the Treasury averages, say, $2.54 per $1,000. The average cost of transportation to the Government of the silver certificates per $1,000 is, say, 50
cents; the cost to the people, say, $1.25; a saving of $2.75 per $1,000;
a strong argument in favpr of the issue of such amount of these certificates, as the business of the country will permit to be carried on without disturbing its gold revenues or interfering with the maintenance of a
strict parity between the two metals. The amount of silverdollars coined
to date is $246,673,386; the amount of gold coin and bullion on hand is
$254,450,853.57. The cost of the $246,673,386 is $216,049,269.20; the
present value $188,014,354.81,'showing an actual loss of $28,034,914.39.
The Bank of France to-day is in this position: It holds in its cash at
par $220,273,860.62 in silver; its present value at par of exchange,
exclusive of abrasion, is $166,509,691.21; showing a loss of its entire
capital and surplus which amounts to, say, $44,028,223, and $10,000,000
in addition if called upon to liquidate its affairs to-day.
FRACTIONAL SILYER COIN.
The denominations of the fractional silver coin held in each office of
the Treasury on September 30, 1886, were as follows:
Fifty-cent
pieces.
I n oflace of—
Twenty-five- Twenty, Ten-cent Five-cent Three-cent
cent pieces. cent pieces. pieces.
pieces.
pieces.
Treasurer U. S.,
Washington.. $1,605,275 00 $473, 075 00
Assistant Treasurer U. S.:
37, 506 25
363, 087 00
Baltimore
167, 826 00
Boston
643,537 00
508,000 00
1, 053,000 00
Chicago
21, 295 00
22,185 00
Cincinnati
J.4, 212 75
New Orleans .
520,187 50
6, 430, 000 00 2,782, 000 00
New Xork
Philadelphia 1, 716, 691 00 1,166,461 00
219, 000 00
SanFrancisco 7,126,126 Ofl
250,195 00
SaintLouis.:. 1, 539,601 00
U. S. Mint:
Denver
Philadelphia.
3,353 50
8,787 25
New Orleans.
SanFrancisco
160 00
1,895 25
U.S.Assay-ofiBce:
NewYork
130 00
130 00
SaintLouis...
In transitbetween
50, 000 00
offices
Total
21,023,333 00
5,700,383. 50
$11 60 $2, 500 00
34 00
200 00
76'66'
21 80
4 00
300 00
305 00
$104 70
1,268 00
419 00
5,101 10
400 00
9, 000 00
5, 860 00
271 00,
2, 580 90
1,000 00
4, 212 00
479 00
800 00 3, 000 00
10, 758 00
367 00
Unassorted.
. $34 04 $8,907 50
78 00
59 00
20 85
48 00
874 59
907 00
4,940 00
1,771 00
70,490 13
7, 014 13
192 00
90
6, 367 52
78
1, 975 62
14 20
20 50
5,000 80
946 40 56,438 14
5, 040 70
1,114 48
94, 243 94
.TREASURER OF THE UNITED STATES.
81
The amount of fractional silver coin held by the Treasury on June
30, 1885, was $31,236,899.49, which amount decreased during the past
fiscal year to the sum of §28,904,681,66. . The amount held November 30
is $25,808,067,32, showing an increased demaud for these coins, caused
by the revival of business. Part of this increase will be lost during the
months of January and February, owing to the return of this kind of
"money through the operation of thelaw authorizing its redemption in lawful money. The amount shipped through the counfcry during the fiscal
year was $6,723,249.31, the am'ount paid out at the sub-treasuries was
$25,283,602.14, the amount received $22,354,772.75, This amount cost
$18,310 for shipment by the Government, and the amount deposited in
the sub-treasuries represents a cost in labor of $24,000, The labor of
twenty men has been employed during the year in counting, assorting,
and shipping this money, and as long as this is done at the expense of
the United States Treasury, so long will five times the amount necessary to do the business of the country be ordered from the respective
sub-treasuries. If left to the operation of the natural laws of trade
these coins would, when accumulated at points in excess of present
need, fall to a slight discount, be purchased and remitted to those who
desire them, the discount paying a part, if not the whole, of the expense;
and except when mutilated or defaced, would not find their way back
to the Treasury, The redemption of these coins, as now carried on,
means that the railroads, ferries, theaters, ice-cream saloons, dram shops,
etc., have the coins received in the course of their business carefully
counted and assorted at the sub-treasuries at the Government expense.
As the beneficiaries are not charitable institutions, there would seem to
be no good reason why taxes should be imposed upon a whole people for
their exclusive benefit, Eeferring to remarks under the head of *' Standard Silver Dollars" and the opinion expressed therein as to the limitation of the issue of that coin for the use of the people as currency, it is
suggested that an attempfc be made to utilize silver as a purely fractional
currency by giving more weight and beauty to the pieces, including in
the coinage a five-cent silver piece. If the attempt were made it would
be found, withdrawing the $1 and $2 paper money being granted, that
at least $125,000,000 of fractional silver could be carried, and an annual
demand be created of from three to five million dollars of the like coin
for shipment abroad. This demand would steadily increase as the new
coins became known.
' MINOR COINo
At the close of the fiscal year the Treasury held $377,814 in minor
coins, a decrease during the year of $490,651,64. The amount nominally on hand November 30 was $163,584,53, but of this $145,236.16
was uncurrent and held by the mint for recoinage, leaving actually
available $18,348.37.
aBxo2™6
82
REPORT ON T H E FINANCES.
The following table shows the amount of each denomination of minor
coin held in the several Treasury offices on September 30, 1886.
In office of—
Five cents.
Treasurer United States,
W^ashington
Assistant Treasurer United
states:
Baltimore
• ...
Boston . . . .
Chicago
Cinciunati
NewOrleans
New York
Philadelpliia
San Fraucisco
Saint Louis
United states Miut:
Denver
. .
Philad elohia
United States Assay-office:
New Yoik
Saint Louis
In transit between offices!..
Total
Three
. cents.
$730 00
$1,089 00
2,700 00
30 00
300 00
200 00
721 00
906 45
4, 494 00
240 00
5,850 00
50 00
.i39 00
03
210 00
12 00
1, 260 00
11 88
Two cents. One-cent. Unassorted.
$1, 017 00
$10 00
148,728 84
5 13
9, 240 00
08
73, 332 00
08
83,408 90
15,575 29
13 26
2-17
82 48
13 26
2 17
188, 318 69
28,659 74
74,692 92
296,021.76
41 00
150 00
86
4, 430 85 145, 676 93
22,553
14
22,781 06
$3, 782 96
3,105 47
652 19
281 05
915 00
1,701 41
5,372 84
527 19
7, 800 47
140 08
1 04
25 00
02
836 90
21,159 20
365 47
240 19
80 01
30 00
794 91
470 00
234 19
540 47
72 21
$946 96
Total.
112 00
198 84
The method of the redemption of minor coin is objectionable, as it
compels the recounting and reissue of these coins at Government expense. So far as the experience of the present Treasurer has any
worth it is found that the only practicable control of the tendency
to constant waste is, that while granting all proper requests, such as
are granted shall be at the cost of the applicants.
RECOINAGE OF UNCURRENT COINS..
Under the appropriation of $10,000 for the recoinage of uncurrent
coins, fractional silver of the face value of $159,854.25 was recoined
into dimes during the year, at a net loss of $9,743.12.
Great complaints have been made during the current year as to the
inadequacy ofthe supply of small silver coins and 5 and 1 cent pieces.
This is due to the omission on the i3art of Congress to grant a contingent fund to the Treasury sufficientto re-coin the mutilated and defaced
coins presented during each year. The demand for these coins can
neither be governed or regulated, and the Treasury should be prepared
to meet any exigency of this kind from funds within its control, due
report being made to Oongress of the expenditures under this head.
FRACTIONAL CURRENCY.
The redemption of fractioual currency during the year amounted to
$10,088.36, leaving an apparent amount outstanding at the close of the
year of $15,330,025.85.
Since 1876, when the issue ceased^, the redemptions have been a$
follows?
„
83
TEEASUEEE OF THE UNITED STATES.
Tear. ,
1877
1878
1879
1880
1881
.
.
.
..
.
..
..
Year.
Amount.
. . . . .
$14, 043, 458
3, 855, 368
705,158
251, 717
109, 001
05
57
66
41
05
Amount.
1882
1883
1884
1885
1886
$58, 705
46 556
20, 629
15, 885
10, 088
'..
55
96
50
43
36
The total amount of the various issues of fractional currency paid
out by the Treasury, the date when the issue ceased, the amount outstaudirig at the close of the fiscal year, as shown by the Treasurer's
books, and the percentage of the outstanding to the amount issued, is
shown in the following table:
W h e n issue
began.
A u g u s t 21,1862 .".
October 10,1863..
D e c e m b e r 5, 1864.
J u l y 14,1869
F e b r u a r y 20,1874.
Date when
issue ceased.
May
Feb.
Apr.
Feb.
Feb.
Duration^of issue.
Total issued.
27,1863
9 m o s . , 6 d a y s $20, 215, 685
23,1867 3 yi's., 4 m o s . , 13 d a y s . 23,164,483
16,1869 4 y r s . , 4 m o s . , 11 d a y s . 86,115, 028
16,1875 5 y r s . , 7 m o s . , 2 d a y s . 176,567,032
15,1876 1 y r . , 11 m o s . , 19 d a y s . 62, 661, 900
7
Total
Outstanding
J u n e 30, 1886.
00
65
80
00
00
Percentage
outstanding
to amount
issued.
17
31
47
14
76
21.2
13.4
3.5
2.1
2.0
15, 330,025 85
4.2
$4,281,255
3,106,315
2, 983, 271
3, 689, 432
1,269,751
1
368,724, 079 45
The percentage of the amount outstanding to the amount issued of
United States and national-bank notes issued prior to 1875 is given in
the following table, in order that comparison may be made with the
amount reported to be outstanding of the earlier issues of fractional
currency:
Description.
Date
w h e n igsue
began.
Date
when issue
ceased.
P e r cent,
O u t s t a n d i n g of o u t s t a n d T o t a l i s s u e d . J u n e 30, 1886.
ing to
issue.
United States notes.
ALL DENOMINATIONS.
A p r . 2,1862 A p r . 19,1869
O c t . 9,1869 J u l y 25,1874
J u l y 13,1874 S e p t . 13,1875
J u l y 20,1875 June'20,1879
I s s u e of 1869
I s s u e o f 1874
I s s u e of 1875
10
30
10
40
1.4
4.6
6.8
10.0
57, 326,625 90
4.0
28, 351, 348
42,450, 812
18, 988, 000
26, 212, 000
787, 042
444.572
171, 228
339,157
15
95
90
70
2.8
1.0
0.9
1.3
116, 008,160
1, 742,001 70
1.5
34, 071,128
5P, 511, 920
16, 520, 000
23,036,000
606, 003
441,227
137, 696
379,944
20
60
20
20
1.8
0.9
0.8
1.6
124,139, 048
1, 564,871 20
1.3
23,167,677
15,495,038
416,482 00
220,796 00
1.8
1.4
$669, 321,676
493, 8 ^ , 132
87, m , 000
190, 688, 000
1,441,805,808
$9, 252,357
22, 943. 730
5,983,595
19,146, 943
ONES.
New issue.
I s s u e of 1869 . .
I s s u e b f 1874 .
I s s u e of 1875
A p r . 2,1862 A p r .
Oct. 9,1869 J u l y
J u l y 13,1874 S e p t .
J u l y 20,1875 J u n e
19,1869
25,1874
13,1875
20,1879
TWOS.
I s s u e of 1874
I s s u e of-1875
A p r . 2,1862 A p r .
Oct. 9,1869 J u l y
J u l y 13,1874 S e p t .
J u l y 20,1875 J u n e
19,1869
25,1874
13,1875
20,1879
N a t i o n a l - b a n k note®.
Apr.
Apr.
1,1865 J a n .
1,1865 J a n .
1,1879
1,1879
84
REPORT ON T H E FINANCES.
A further comparison of the number of pieces of fractional currency
purporting to have been issued, and to be still outstanding, with the
number of pieces of one and two dollar United States notes and national-bank notes, which latter notes were in active circulation and use
during about the same period of time, shows so great a disproportion as
to attract attention and comment as to a possible error iii the accounts
of the Treasury in regard to the issue and redemption of the fractional
currency.
Issued.
Description.
Amount.
Outstanding.
Number of
pieces.
Amount.
Number of
pieces.
Per cent,
of outstanding to
• issue.
Fractional currency.
20,064,130
$601, 923 90
5,694,717 85 . 113, 894, 3.57
821, 984, 568
82,198,456 80
35, 370,456
5, 305, 568 40
556,125, 928
• 139, 031, 482 00
271, 783, 861
135, 891, 930 50
Three cents
Five cents
Ten cents
Fifteen cents
Twenty-five cents
Fifty cents
$90,285 48
I, 859, 234 12
5, 075, 600 44
241, 446 62
4, 303, 642 93
3, 759, 756 26
3, 009, 516
37,184, 682
50,756,604
1, 609, 644
17, 214, 572
7,519,512
368, 724, 079 45
1,819,223,300
15, 330, 025 85
117,294, 530
1.5
32 6
6.1
4.5
3.1
28
4.2
139,175, 837 00
139,634,086 00
139,175, 837
69,817,043
2,158,483 00
1, 785, 6«7 00
2,158,483
892, 834
1.6
1.3
278, 809, 923 00
208, 992, 880
3,944,150 00
3, 051, 317
1.4
United States and national-hank notes.
OnedoUar...
Two dollars
MUTILATED AND COUNTERFEIT CURRENCY.
The amount of $4,066 was deducted from the face value of United
States notes redeemed during the year, on account of mutilations; on
fractional currency redeemed the deductions amounted to $50.62; on
silver certificates to $339, and on gold certificates to $15.
• There were detected in remittances of notes received for redemption
269 counterfeit United States notes and 233 national-bank notes. The
denominations of these notes were as follows:
Denomination.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fiftydollars
:
One hundred dollars
2,406
There was also detected counterfeit fractional currency of the nominal
value of $186.70.
TREASURER OF THE UNITED STATES.
85
Counterfeit silver coins were detected in the several Treasury offices
during the fiscal year as follows:
Description.
Amount re-' ofNumber
counterceived.
feits.
$48,881,184
7, 033,456
5,340, 262
Standard dollars.
Half-dollars
Quarter-dollars ..
2,829
1,037
THE POSTAL REVENUES.
The amount received from this source into the Treasury was
$26,593,885.64; the ainount received by the Postmaster-General's report was.$5:2,997,135.26; the amount received by the Treasury being
about one-half of the whole receipts. While.the country was without
good roads, telegraphs, and railroads, the present system, or lack of
, system, was possibly defensible. There is nothing at present to be said
in its favor, and a system should be devised which would make all the
revenue of the country, from whatever source, find its way into the
Treasury, and be disbursed through the regular channels, and with
proper supervision and accountability.
.
S P E A K E R ' S CERTIFICATES.
The appropriation for the payment of compensation and mileage of
members of the House of Eepresentatives for the last fiscal year
amounted to $1,805,624.
The disbursement of this very large sum of mooey is now made by
the Treasurer of the United States upon certificates signed by the
Speaker ofthe House, to which are attached receipts of the members in
whose names the certificates are drawn.
Under the present law and method of payment the Treasurer is held
responsible by the accounting ofiScers for the payment of vouchers the
correctness of which he has no means of verifying, and which pay
ments have been made by him upon express requirements of law pro
viding that the Speaker's certificate shall be conclusive upon all ofi&cers
of the Government,
It is again respectfully requested that Congress be asked to provide
some other way of making such payments.
86
EEPORT ON THE FlNANCfiS.
CLEARINa-HOUSE TRANSACTIONS.
The usual tables, showing the transactions of the sub-treasury at
Kew York with the clearing-house in that city, are here presented:
h e c k s r e - Balances d u e B a l a n c e s due
Checks sent to C ceived
from
the clearing- ' the clearingthe assistant
the clearing
house.
treasurer.
house.
house.
Date.
Fiscal year ending June 30, 1884
$116, 666, 000 26 $295, 541, 948 32 $1, 331, 880 02 $180, 207, 828 08
_ 694,284 08
170,104, 931 94
Fiscal year ending June 30, 1885.. i.. 109,420, 072 25 278, 830,720 11
1885.
10, 066, 644 51 23, 830, 804 82
Jtdy
12,911 10
13,777,071 41
9, 259,193 95 17, 022,142 40
38, 620 67
7, 801, 569 12
August
12, 594, 235 36 19, 542, 363 87
150, 973 51
7,099, 102 02
September
843, 999 03
13,819,131 62
7, 940, 095 07
20, 915, 227 66
October
273,
584
22
9,
539,
233
94
5, 454, 353 56
14,
720,
003
28
November
10, 769, 312 50 21, 595, 770 13
10, 826, 457 63
December
January
February
March
April
May
June
1886.
-
Fiscal year ending June 30,1886
July
August
September
October
November
Total for three years and five
monthB.«
8, 955, 277 57
10,739, 318 85
11,617,293 85
9, 020, 067 36
9,737,500 61
9,665,310 41
28, 589, 627 99
24,118, 923 92
27, 544, 302 98
26,880,394 15
22, 640, 906 53
29,449,019 57
125, 782, 520 53 276, 855,487 30 \
I
9, 870, 226 58
10,728,210 72
11, 033, 624 30
10, 562, 348 44
10, 570,163 76
44,890 78
1, 643, 279 86 152,710,246 C3
23, 722, 219 31
20,666,782 11
40, 289, 060 00
38,427, 715 07
32, 355,120 89
404,633,166 90 1,011,689,053 71
19, 634, 350 42
• 13,424, 495 85
15,927,009 ]3
17,800,326 79
12, 909,405 92.
20, 062, 009 71
18, 851, 992 73
9,938,571 39
29, 255,435 64
27, 865, 367 23
21, 784, 957 13
19,443 96
610,725,330 77
87
TREASURER OF THE UNITED STATES.
RECEIPTS FROM CUSTOMS AT NBV^" YORK.
In continuation of tables presented in the reports of the Treasurer for
the past three years, the kinds of money received in paymentof duties on
imports at the port, of I^ew Tork are shown in the table below, covering the period from July 1, 1883, to November 30, 1886 :
United
States
Notes.
Date.
Per
Gold Coin. P e r G o l d Cer- P e r Silver Cer- P e r
Ct.^
Ct. tificates. Ct. tificates. C t .
Silver
Coin.
Total duties
P e r on i m p o r t s ,
p o r t of
Ct.
N e w York.
Fiscal
year
ending J u n e
30,1884
$11,791, doo 8.8 $3, 556, 000 2.7 $88, 750,000 66.4 $29,482,000 22.0 $134,000 0.1 $133,713 000
Fiscal
year
ending J u n e
30, 1885 . . . . . 36,161, 000 28.9 1, 544, 000 1.2 42,779,000 34.1 44, 660, 000 35.6 158,000 0.1 125, 302,000
1885.
July
August
September . . .
October
November
December
5, 508, 000 46.6
4, 846, 000 38.2
3,139, 000 25.8
1, 811, 000 16.8
2,478, 000 28.4
2,455,000 24.7
1886.
January
February —
Mairch
April-.......Mav
June
3, 391, 000 31.0 5, 537,000 47.3
7,310,000 58.4
6, 914, 000 66.2
6,448, 000 71.4
9,712, 000 81.7
93, 000
86, 000
81, 000
86, 000
80, 500
71, 000
0.8
0.6
0.7
0.8
0.9
0.7
3,408, 000 28.8
6, 017, 000 47.4
7, 718, 000 63.4
7, 623, 000 70.8
4, 965, 000 56.9
6, 008; 000 60.5
2, 790, 000 23.6
1, 716, 000 13.5
1,190, 000 9.8
1,216,000 11.3
1, 173, 000 13.4
1, 367, 000 13.8
0.2
0.3
0.3
0.3
0.4
0.3
11,821,000
12,700,500
12,167,000
10, 771, 000
8, 730, 000
9, 935, 000
65,500
49, 000
71, 500
103, .500
73, 500
80, 500
0.6
0.4
0.6
1.0
0.8
0.7
5, 821, 000 53.3
5, 063, 000 ^ . 3
3, 941, 000 31.5
2,113, 000 20. 2
1, 098, 000 12. 2
568, 000 4! 8
1, 622, 000 14.8 . 29, 500 0.3
1, 027, 000 8.8 28, 000 ' 0 . 2
1,151,000 9.2 38,500 0.3
1, 278, 000 12.3 33, 500 0.3
1, 378, 000 15.3 31,500 0.3
1, 496, 000 .12.6 30, 500 0.2
10, 929, 000
11, 704, 000
22,000
35, 500
39, 000
35,000
33, 500
34, 000
12, 512, OUO
10, 442, 000
9, 029, 000
11, 887, 000
Fiscal • year
ending J u n e
30, 1 8 8 6 . - - - . 59, 549, 000 44.9
941,000 0.7 54, 343, 000 41.0 17,404, 000 13.1 390, 500 0.3 132, 627, 500
10, 686, 000 84.8
July
10, 906, 000 73.5
August
S e p t e m b e r . . . 2, 915, 000 22.5
1, 876, 000 '16.2
October
1,743,000 17.1
November....
92, 500
98, 000
74, 500
83, 500
115,500
T o t a l for t h r e e
y e a r s and
five m o n t h s . 135, 627,000 29.9
0.7
0.7
0.6
0.7
1.1
369, 000 2.9
2, 456, 000 16.5
8, 716, 000 67.3
8,192, 000 70.8
7, 049, 000 69.3
1, 418, 000 11.3
1, 314, 000 8.9
1, 202, 000 9.3
1, 393, 000 12.0
1, 239, 000 12.2
40,
60,
36,
38,
28,
500
000
500
500
500
0.3
0.4
0.3
0.3
0.3
12, 600, 000
14, 834, 000
12, 944, 000
11, 583, 000
10,175,000
6, 505, 000 1.4 212,654, 000 46.9 98,112, 000 21.6 886, 500 0.2 453,784, 500
The following is a summary of the table i
I
•
Recewed in—
&clCoiii.....
.'.. =,...,...
.o
-.». = »
^Grold Certificates
-.„... = .,,. . „
Silver C o i n . . . :
_.....
•„.„
Silver Certificates. ..-o
...oo»o
„»
-^^ United States N o t e s . . .
.,^, . , . „ . . . » » » = .=o=^
„
Total
,
.-
,--.-
• Percent.
1.4
46.9
0.2
21.6
29.9
_ „ - o o . . < . _ . = . » - o » . - - . o _ - = . 100.00
88
REPORT ON THE
FINANCES.
The a,moant of silver certificates in circulation on the dates stated
was as follows:
Silver certiflcates.
Date.
Percentages ofeach kind of money received from customs
at New York.
•Outstanding Decrease United Gold cer- Total
Silver
at the close during the States tificates. gold re- Increase. certifi- Decrease.
ceipts.
notes.
cates.
of each month. month.
1886.
$90,733,141
April 30
89,184,129
Mayi29
• 88,116, 225
June 30
87, 564, 044
July 31
89, 021, 760
August 31
95, 387,112
September 30 ..
100,306, 800
October 30-1...Novem ber 30...
105, 519, 817
$1, 549, 012
1, 067,904
552,181
11,457,716
t6, 365, 352
t4, 919, 688
15, 213, 017
^ * From latest returns received.
66.2
71.4
81.7
84.8
73.5
22.5
16.2
17.1
20.2
12.2
4.8
2.9
16.5
67.3
70.8
69.3
t Increase.
86.4
83.6
86.5
87.7
90.0
89.8
87.0
86.4
+2.8
2.9
1.2
2.3
JO. 2
|2.8
$0.6
12.3
15.3
12.6
11.3
• 8.9
9.3
12.0
12.2
t3.0
2.7
1.3
2.4
to. 4
12.7
to. 2
; Decrease.
In the Appendix, page 91, will be found a table showing by months
the kinds of money received from April, 1878, in the custom-house at
New York. There will also be founds pn page 62 a table of the Treasury receipts and payments for the year, and the kinds of money in
which such receipts and payments were made.
DEPOSITARY BANKS.
Public moneys amounting to $123,592,221.68 were during the year
deposited with national banks designated as depositaries. The balances
held at the close of the year to the credit of the Treasurer amounted to
$14,036,632.18, and to the credit of disbursing officers, to $2,615,753.11.
Bonds of the United States amounting to $19,659,900 were held by
the Treasury to secure the safe-keeping and prompt payment of these
funds.
One hundred and sixty national banks acted as depositaries during
the year, receiving the moneys from collecting officers of the Government, thus saving the risk and expense of transportation to Treasury
offices, and disbursing the same on drafts of the Treasurer. A more
extended use of the banks as depositaries would result in a large saving
to the Government, and very much lessen the chances of loss from peculation and frauds in the conduct of the operations of the Treasury, as
the proper margin of security in [Jnited States bonds is a matter of
constant supervision by the Treasurer. Ko loss has resulted in this
class of deposits for the past eighteen years, although a number of
failures have taken place among the depositary banks.
89
TREASUREE OF THE UNITED STATES.
The following table presents the transactions with depositary banks
ibr the twenty-two years in which they have been employed by the
Treasury:
Fiscal
year.
Funds transferred
to depositary
banks.
Receipts.
F u n d s transferred
I>rafts d r a w n o n
Balance at close
to T r e a s u r y b y i
depositary
of the year.
depositary banks, j
bauks.
1864 . . . . $153,395,108 71
9S7, 564, 639 14
1865..-.
1 8 6 6 - - . . 497. 580, 676 42
1867 . . . . 351, 737, 083 83
1868....
2115, 244,144 " 5
1869 . .
105,100, 573 67
1870
120,'084, 041 79
99, 299, 840 85
1871..-.
106,104,855 16
1872.-..
1873 . . . . 100,602, 743 98
91,108, 846 "0
1874 . . . .
1875....
98. 228, 249 53
97, 402, 227 57
1876 . . .
1877 - - . . 106, 470, 261 22
99,781,033 48
1878 - - . 109, 397, 525 07
1879---.
1880. .
119,493,171 94
1881..-.
131,820,002 20
1882 . . . . 143,201,541 41.
1883
145, 974, 256 86
129,100, 449 35
1884 . .
119, OoG. 058 94
1885 . . .
1886 . . . . 123,592,221 68
$816, 000 00
8,110,294 70
13, 523, 972 62
8.405, 903 63
9, 404, 392 00
10,052,199 44
2.406, 521 00
2, 6:53,129 45
3, 050, 444 05
9, 004, 842 49
2,729,958 81
:i, 737,445 60
2, 445, 451 49
2, 353,196 29
2, 385, 920 38
6, 890, 489 Ol)
6,489,634 17
5,646,092 46
5, 256, 574 29
5, 202, 840 22
5,501,161 18
4,798, 782 35
8, 786. 546 55
$85,507,674 08
583,697,912 72
363, 085, 565 65
331,039,872 57
215,311,460 69
114,748,877 24
111,123,926 18
89, 428, 544 04
94,938,603 76
108, 089, 786 "76
134,869,112 57
82,184, 304 05
89, 981,146 99
94, 276,400 35
90,177, 963 35
100, 498, 469 29
109, 641,252 64
118,143,724 91
129,131,305 07
132, 075, 358 80
116,227,722 17
105, 952, 609*09
112,. 862, 8 1 5 2 4
$28,726,695 88
415, 887, 767 81
149, 772. 756 11
37,218,612 76
22, 218,187 92
14, 890, 463 75
11, 818, 228 61
13,790,961 01
13, 635, 837 49
16,110, 519 07
13, 364, 554 52
13, 657, 678 25
13,909,616 83
14, 862, 200 88
12, 606, 870 GO
15, 544, 058 34
15, 525, 023 03
18, 388, 772 82
- 18,709,928 56
. 18, 771, 472 81
17, 688,442 52
17, 633, 235 03
16,464, 462 15
Total 4, 330, 445, 574 85
127,781,792 29
3, 512, 994,388 21
931,196, 346 75
$39, 976, 738 75
36,065,992 06
34, 298, 319 34
26,182, 821 47
23, 301, 709 61
8, 875,141 73
8, 483, 549 79
7,197, 015 04
7,777, 873 00
62,185,153 64
7,790, 292 06
11,914.004 89
7, 87U, 920 13
7, 555, 776 41
6, 937, 916 32
7,183.403 42
7, 999; 953 86
8, 933, 550 79
9, 610, 432 86
10, 030, 698 33
10, 716,144 17
10, 985,141 34
14, U36, 632 18
PACIFIC RAILROAD SINKING- FUNDS.
At the close of the fiscal year United States bonds were held in this
office for account of the Pacific Eailroad sinking funds, established by
the act of May 7, 1878 (20 Statutes, 56), as follows:
United States bonds.
Bonds issued to Pacificrailroads, 6 per cents
Fuuded loan of 1907, 4 per cents
Loan of July 12, 1882, 3 per cents.'.
Total - -
For TTnion
For Central
Pacific Rail- Pacific Eailroad Comroad Company.
pany.
Total.
$361, 000
4, 218, 650
456,450
$444, 000
190,100
194, 900
$805, 000
4,417,750
651, 350
5, 036,100
838, 000
5, 874,100
Four per cent, bonds to the amount of $1,095,000 were added to the
account of the Union Pacific Eailroad, and $510,000 called 3 per cent.
bonds were withdrawn for redemption, and the proceeds thereof deposited in the Treasury to the credit of said fund.
Three per cent, bonds to the amount of $320,000 were added to the
account of the Central Pacific Eailroad, and $1,220,000 called 3 per
cent, bonds were withdrawn for redemption, and the proceeds thereof de-
90
REPORT ON T H E FINANCES.
posited in the Treasury to the credit of said fund, making bonds and
cash to the credit of the respective funds as follows:
\ .
Bonds.
UnionPacific
Central Paciflc
..
'.
$5,036,100
838,000
Cash.
Total.
$263, 631. 72
2,152, 397.56
$5,299, 731.72
2,990,397.56
TRUST FUNDS.
THB INDIAN TKUST FUND.
The Treasurer of the United States, by the act of June 10,1876 (19
Statutes, 58), is the custodian of the Indian trust fund, for the Secretary of the Interior, trustee. The amount of ^the fund at the close of
the fiscal year was $1,800,016.83§, as shown by the following table:
Class of bonds.
Eegistered.
Coupon.
Total.
State and canal bonds.
Arkansas—Funded debt
Florida—state stocks
Indiana—Wabash and ErieCanal bonds
Louisiana—State stocks
Mflrylanrl—Sfate ^^'"'^'ks .
.
,,
North Carolina—State stocks..'
South Carolina-Estate stocks
Tennessee—State stocks
Virginia—State stocks
Virginia—Chesapeake and Ohio Canal bonds
".
...
..
$8,350 17
191,666 66|
540,000 00
$168,000 00
132, 000 00
2, 000 00
37,000 00.
1, 000 00
$168,000 00
132, 000 00
2,000 00
37,000 00
8 350 17
192, 000 00
125, 000 00
314, 666 66f
540, 000 00
1, 000 00
780,000 00
1,800,016 831
192,000 00
125, 000 00
123, 000 00
TTnited States bonds.
Bonds issued to Paciflc railroads
Total
280,000 00
1,020,016 8 3 |
280,000 00
During the year $4,000 Indiana State bonds were paid in full, and
$2,000 included in the above table have been paid since the close of the
fiscal year and the bonds surrendered to said State.
Soon after assuming my duties as Treasurer, the condition of the
Indian trust fund was taken up, and the following letter was addressed
to the Secretary of the Treasury:
T R E A S U R Y OF T H E U N I T E D STATES,
Washington, May 7, 1885.
S I R : My attention having been called io certain bonds and stocks of the Indian
trust fund, held in custody in this office, on which principal and interest are due and
unpaid, I have the honor to submit at once t h e accompanying statement of such
bonds.
Under the act of J u n e 10,1876, Revised Statutes, volume 19, page 58, transferring the
Indian trust fund from t h e Department o f t h e Interior to the custody of this office, it
is made the duty of the Treasurer of the United States to make all purchases and
sales of bonds and stocks authorized by treaty stipulations or by acts of Congress,
when requested so to do by the Secretary of th© Interior, and to collect all interest
falling due upon t h e bonds and stocks so held.
TREASURER OF THE UNITED STATES.
91
The principal and interest of a large number of these bonds bave become due and
remain unpaid, some of them for many years.
While i t is made Mie duty of the Treasurer, under the act, to make all purchases
and sales of bonds and stocks when requested so to do by the Secretary of the Interior, and to collect all interest falling due without such request, there may be a question as to the responsibility or duty of the Treasurer in 'reference to sucli past-due
bonds and the interest thereon. I desire, therefore, for my guidance and information
(if any action is to be taken by this office), to know—
(1) W h a t steps are necessary to collect the principal of overdue State bonds, or to
prevent statutes of limitation in the respective States from barring any action t h a t
may hereafter become necessary.
(2) W h a t steps are necessary to collect past-due interest on such bonds, or on bonds
not yet matured.
(3) W h a t proceedings should be taken wliere the bonds are liens upon railroads and
other corporations, as in t h e case of some of tbe bonds o f t h e State of North Carolina.
Formal demand has been made for the payment of certain North Carolina bonds
and refused, and correspondence has be«n had with tbo authorities of States in refer,
ence to the payment of past-due bonds with similar results.
Under section 3481, Rev. Stats. U. S., moneys due certain States have been stopped
by. this Department and the amount applied to the payment of interest due. The
items are set forth in t h e accompanying list.
The statutes of the different States authorizing these bonds are not accessible to
this office, and therefore the conditions under which t h e bonds were issued and the
full nature of the liens are not known here.
Several of the State authorities have made propositions, authorized by their respective legislatures, for the exchange of bonds at certain rates for those of a new
issue, which propositions could not be entertained without the authority of Congressional action.
If it shall be held t h a t further demands be made for the payment of overdue principal, or t h a t demands be made or suifcs instituted for the payment of overdue interest, I respectfully ask for instructions.
Very truly,
C. N. JORDAN,
Trmsurer United States.
Hon.
D A N I E L MANNING,
Secretary of the Treasury.
(Statement of bonds and stocks inclosed with letter.)
This letter, and statement were referred by the Secretary of the
Treasury to the Solicitor, Hon. A. McGue, who made reply, as follows: ,
TREASURY D E P A R T M E N T , O F F I C E OF T H E SECRETARY,
Washington, D. C , May 26,1885.
S I R : I have received your letter, " J . C. B.," of the 7th instant, asking for infor
mation respecting your duties as custodian of certain bonds and stocks of the Indian
trust fund, under the act of J u n e 10,1876.
In reply I inclose herewith copy of communication dated 22d instant, from the
Solicitor of the Treasury, to whom your letter h a d been referred, stating his views
on the subject of your inquiry.
Very respectfully,
Co ®. FAIRCHILD,
Acting Secretary,
To t h e
T R E A S U R E R O F THK U N I T E D STATES.
92
REPORT ON T H E FINANCES.
D E P A R T M E N T OF J U S T I C E ,
O F F I C E O F SOLICITOR OF T H E TREASURY,
Washington, D. C, May 22, 1885.
S I R : By the act of June 10,1876, the securities held by the Secretary of the Interior
in trust for the benefit of Indian tribes were transferred to the custody of the United
States Treasurer.
I t was made the duty of this officer to collect the interest falling due thereon and
deposit the same, and issue certificates of deposit therefor in favor of the Secretary of
the Interior as such trustee, and to make purchases and sales of the securities authorized by treaty or acts of Congress when requested by the Secretary of the Interior.
From a statement made by the T'reasurer it appears that the principal and interest
of a large number of these securities have become due, and have remained unpaid,
some of them for years.
He asks, in view of this fact, what steps are necessary for him to take to collect the
principal and interest of overdue State bonds, and what proceedings should be taken
where the securities are liens on railroads or other corporations.
The statute to which I have referred places a certain responsibility on the Treasurer. He is to be the custodian of the bonds. He is to collect the interest as it falls
due, and he is to make purchases and sales of bonds when requested so to do by the
Secretary of the Interior. His duties, it seems to me, as defined by the act, are min
isteriaL simply.
If the principal of the stock or bonds or the interest on the same falls due and is
not paid on demand made by the Treasurer of the United States, t h a t fact should be
communicated by hirn to the trustee, the Secretary of the Interior.
Whether or not such suit should be brought or other proceedings taken to compel
Iiayment from the defauliiing maker of the bonds orother securities rests with the
Secretary of the Interior, the trustee.
Very respectfuUy,
A. McCUE,
Solicitor of the Treasury.
Hon.
D A N I E L MANNING,
Secretary of the Treasury.
This correspondence was then referred to the Secretary of the Interior, with the accompanying letter, the reply to which is herewith
given:
T R E A S U R Y O F T H E U N I T E D STATES,
Washington, May 28, 1885.
S I R : I have the honor to transmit herewith a copy of an opinion of the Hon. A.
McCue, Solicitor of the Treasury, delivered to the Hon. Secretary of the Treasury, in
reference to certain unpaid stocks and bonds of the Indian trust fund, in response
to a request made by myself on the 7th instant, a copy of which is also inclosed.
If, in pursuance of this opinion, it is necessary to take any action in reference' to
the unpaid principal and interest of said bonds, I respectfully ask for instructions in
relation thereto.
Very respectfully,
C. N. JORDAN,
Treasurer U. S.
Hon.
L. Q. C. LAMAR,
Secretary of the.Interior.
D E P A R T M E N T O F T H E INTERIOR,
Washington, August 1, 1885.
SIR : I have the honor to acknowledge the receipt of your letter o f t h e 28th of May
last, inclosing, for the inforraation o f t h e Secretary of the Interior, as trustee for cer-
93
TEEASURER OF THE UNITED STATES.
tain Indian trust funds, a copy of an opinion of the Solicitor of theTreasury regarding the duties of the Treasurer of the United States in the matter of certain unpaid
State stocks and bonds belonging to the Indian trust fund.
The State bonds now belonging to the Indian trust fund which have matured and
remain unpaid are as follows :
State.
Florida
North .Carolina
Do
Do
South CaroUna.
Virginia.......
Tennessee . . . Do
Do
Do
,
Amount.
Date of maturity.
$132, 000
19,000
7,000
121,000
125, 000
1,000
125, 000
65, 000
1,666
19, 000
Jan. 1,1877.
Jan. 1,1884.
•Jan. 1, 1885.
Apr. 1, 1885.
Jan. 1, 1881.
'Nov. 13, 1882.
Jan. 1, 1863.
Jan. 25,1861.
Jan. 25, 1861.
Jan. 1, 1870.
The interest on these bonds is also due and unpaid by the States for different and
various periods.
The Indian t r u s t funds were invested in these bonds by the Secretary of the Interior prior to 1861. The laws governing the matter at the time of purchase wiU be
found in the actof J a n u a r y 9, 1837 (sec. 2096, R. S.), and act of September 11, 1841,
(sec. 3659, R. S.).
By the act of June 10, 1876 (19 Statutes, 58), the stocks, bonds, securities, &c., of
the Indian trust fund were transferred to the Treasurer of the United States as custodian, and it was thereafter made his duty to collect the interest thereon as it became due, &c.
The Solicitor holds in the opinion referred to that the Treasurer's duties as defined
this last-named act are "ministerial simply."
'*If the principal of the stock or bonds or the interest on the same falls due and is
not paid on demand made by the Treasurer of the United States, that fact should be
communicated by him to the trustee, the Secretary o f t h e Interior. The duty of the
Treasurer in this regard ends here. Whether or not suit should be brought or other
proceedings taken to compel payment from the defaulting maker of the bonds or other
securities rests with the Secretary of the Interior, the trustee."
In view of this opinion, you request instructions in relation to the unpaid principal
and interest of said bonds, if it is necessary to take any action in relation thereto.
This matter has heretofore been considered by Congress. By the act of March 3,
1865 (13 Statutes, 539), appropriations were made for the Indians for whom the nonpaying bonds were held, in sums equal to the interest: then due and unpaid. Since
t h a t date annual appropriations have been made to meet the unpaid interest, not
only on the bonds not yet matured, but also on those which have matured.
The act of March 2, 1867 (14 Statutes, 497), required:
^* That the Attorney-General of the United States shall be and is hereby instructed
to inquire into the condition of all funds held in trust by the United States for said
tribe (Chickasaw) and for all other tribes of Indians, and what proceedings should be
taken for the security of the United States in respect to t h e same, and report thereon
to Congress on the first Monday in December next."
The report of the honorable Attorney-General made in compliance with this law
is found in House Ex. Doc. No. 59, Fortieth Congress, second session. The concluding
portion of the report is as follows:
" So far as the States are liable upon these, either as principal obligors under the
bonds issued by them respectively, or as guarantors of bonds issued by private or
municipal corporations, I see no ground upon which t h a t liability can be enforced
either at law or in equity. A State can be sued only by its own consent. I am not
advised t h a t either of these States has, by its own consent, submitteri itself to suit
94
R E P O R T ON T H E FINANCES.
in any court. Nor is there a case made here for original suits against either of these
States in the Supreme Court of the United States under the Constitution of the
United States; for whether we regard these bonds as belonging to the United States
or to the respective Indian tribes, t h e right to bring an original suit upon them
against a State in the Supreme Court of t h e United States does not exist either in
favor o f t h e United States or any of these Indian tribes; for neither the United
States nor an Indian tribe is a foreign state within the meaning of the constitutional
provision, and as such entitled to bring an original suit against a State in the Supreme Court of the United States. But if any of these States holds claims against
the United States, it may be deemed expedient to exercise the right of retention and
application in the nature of a set-off, foUowing t h e precedent set by the joint resolution ofMarch 3, 1845 (5 Statutes at Large, page 801).
" This resolution is as follows :
'' ^That whenever any State shall have been or may be in default for t h e payment of
interest or principal on investments in its stocks or bonds, held by the United States
in trust, it shall be the duty of the Secretary of the Treasury to retain the whole, or
so much thereof as rnay be necessary, of the percentage to which such State may be
entitled of the proceedsof the sales of the public lands within its limits, and apply
the same to the payment of said interest or principal, or to the reimbursement of any
sums of money expended by the United States for t h a t purpose.'
*'As to the remedy upon the bonds issued by private or municipal corporations by
action at law to recover the amount due for principal or interest, or by proceedings
in foreclosure, where the bonds are secured by mortgage, or in mandamus to compel
the levying of a t a x by municipal corporations, in order to provide payment, the
remedy would be the same in favor of the United States as in favor of any individual
creditor upon the bonds.
' ' I am at a loss to suggest any specific measure for further security in respect to
these bonds. But it may happen t h a t t h e indebted States and corporations may
offer propositions for compromise favorable t o the bondholders, and Congress may
deem it expedient to give the Secretary of t h e Interior authority to entertain, and,
in the exercise of a proper discretion, to agree to such propositions."
Sums of money found by the Treasury due the States in default of payment of interest on bonds, have been from time to time covered into the Treasury to reimburse
the United States for moneys appropriated by reason of such default.
The authorities o f t h e State of North Carolina submitted in 1883 a proposition for
the substitution of the old bonds of t h a t State for those o f a new issue, authorized by
act of the State legislature. I t was considered by my predecessor on December 11,
1883, whOj under the circumstances of the case, declined to accede to the proposition^
stating among other reasons t h a t he doubted whether it would be proper for the Secretary of the Interior to make the exchange without the grant of special legislation
therefor by Congress. Bills were pending in the Forty-eighth Congress which contemplated t h e granting of the necessary authority, b u t no law was enacted on t h e
subject.
The facts regarding these State bonds which have matured, as well as those upon
which instalments of interest are past due, are essentially the same or similar to those
which obtained at the time of the report made by the honorable Attorney-General,
whose opinion and conclusion on the subject are quoted above.
I n view of the opinion of the Attorney-General, and of the further facts herein set
out, the Secretary of the Interior does not consider it necessary or proper t h a t any
further means should be attempted with reference to the collection of the unpaid
principal and interest o f t h e bonds under consideration until appropriate legislation
therefor shaU have been enacted by Congress.
Very respectfuUy,
L. Q. C. LAMAR,
Secretary and Trustee.
Hon.
C. N. J O R D A N ,
Treasmer United Statm.
.TREASURER OF THE UNITED STATES, •
95 ;
It will, therefore, be seen that special attention has.been given to the
matter in question, and that further action must depend upon appropriate legislation by Oongress, as stated by the Secretary of the Interior, trustee, in his letter given above.
The conclusion to be deduced from this correspondence applies with
equal force to State bonds held in this office for the Secretary of the
Treasury for account of the United States, a list of which is given in
this report, and on which principal and interest are in default.
MISCELLANEOUS TRUSTS,
•The following amounts are held for the different trusts stated:
American Printing House for the Blind, 4 per cents . ^
Pennsylvania Company, 4 i per cents -. - =
Manhattan Savings Institution, 4 per cents
Alaska Commercial Company,4 per cents
::....1
«o.»
$250,000
200,000
75,000
55, 000
„
The jSirst-named bonds are in the name of the Secretary of the Treasury, trustee, interest to the Treasurer of the United States for credit
of appropriation 'to promote the education of the blind, act of March '
3, 1879o The Pennsylvania Company bonds are held in pursuance of
a circular of the Treasury Department in reference to bonds to be given
by transportation companies as security for merchandise while in transit.
The 4 per cento bonds of the Manhattan Savings Institution are held as
indemnity for certain stolen bonds, and those for the Alaska Commercial
Company are held as security in the contract between said company and
the Governmento
,
•
The following described bonds' are held for the Secretary of the •
Treasury o
Arkansas State bonds
ooo
Chesapeake and Ohio Canal bonds
Louisiana State bonds
=o
NashviUe and Chattanooga Railroad bonds
North Carolina State bonds
oo
Tennessee State bonds
Virginiia State bonds
«
=
o.,
„..,
$625,000
12,000
545,480
500,000
13,000
21,000
41,800
These bonds are owned"" by the United States. Of the Arkansas
bonds $538,000 were formerly in the Smithsonian Institution fund; the
remainder, $87,000, was transferred from thelndian trust fund, amounts
equal to principal and interest having been paid by appropriations for
account of the Indian tribes for which the bonds were held. The bonds
of North Carolina, Tennessee, and Virginia were also transferred frora
the Indian trust fund in the same manner.. The bonds of the Nashville
96
REPORT ON THE
FINANCES.
and Chattanooga Eailroad Company became the property of theUnited
States under an act of Congress providing for the collection of debts
due from Southern railroad corporations, approved March 3,1871 (16
Statutes, 473). All the bonds are non-interest paying, excepting the
bonds of the Nashville and Chattanooga Eailroad Company, the interest on which is paid as it accrues.
The bonds held by this office should receive the serious attention of
the legislative power, the greater part of these bonds having been
lying in the vaults of the Treasury, paying no interest save such as
may have been sequestered from sums due the respective defaultuje:
States, notwithstanding the fact that these States have in great part
compromised with their creditors, and are now paying interest on a
portion, or the whole of their debt, These securities have cost the
United States par, and there would seem to be no good reason why
proper efforts should not be made to obtain payment in full or efect
some compromise with the insolvent States. By a former ruling of this
Department it has been held that money due the respective defaulting
States could not be seized except for the current interest, and that no
attention should be paid to the fact that by reason of default the principal had become due. The Treasurer has advised, under date of
October 8, 1886, each of the secretaries and accounting officers who may
be called apon to settle the accounts of these States, that all sums due
the respective States should be held by them in order that such sums
shall be applied to the payment of the principal or interest, or both,when any indebtei^.ness from the Government to these States may arise.
The correspondence in regard to this matter is herewith submitted.
T R E A S U R Y OF THE IJNITED^ STATES,
• .
Washington, October 8, 1886.
S I R : Referring to section 3481, Revised Statutes of the United States, providing
for the retention of moneys due from the United States to any State t h a t may be iu;
default in the payment of principal or interest on stocks or bonds issued by said State
and held in trust by the United States, I have the honor to call your attention to the
following States whose bonds are helcl in this office in trust, on which principal and
interest are due and unpaid; and to request t h a t payment of moneys due any of said
States be withheld and this office advised of such action: Arkansas, Florida, Louisiana,
North Carolina, South Carolina, Tennessee, Virginia.
Very respectfully,
.
C. N. JORDAN,
Treasurer United States.
To the F I R S T COMPTROLLER.
In connection with the, bonds df the various States mentioned in the
foregoing as held by the Treasury in trust, attention is called to the
present status of the debts of the States named. The following memorandum, made up from the best attainable sources of infbrmation, will
TREASURER O F T H E UNITED STATiSS.
97
afford some idea of the sums that may be recovered by proper action of
Congress on the subject of defaulted State bonds:
MEMORANDUM ON THE DEBTS OF T H E STATES OF VIRG-INIA, NORTH
CAROLINA, SOUTH CAROLINA, FLORIDA, LOUISIANA, ARKANSAS, AND
TENNESSEE.
VIRGINIA.—The entire debt of the State was created before the war.
In 1871, after setting aside one-third of the debt and accumulated
interest (amounting to over $45,000,000) as West Virginians share, the
acknowledged debt was funded into 6 per cent, bonds due in 1905, with
tax receivable coupons. That which was not presented was nevertheless treated as funded. In 1879 another funding scheme was passed
offering $3,000 in a new 10-40 bond bearing interest for ten years at 3 per
cent., ten years at 4 per cent., and twenty years at 5 per cent., for $2,000
of bonds with tax-receivable coupons, and $1,000 of non-tax-receivable
coupon bonds. About $8,500,000 were funded. These schemes have,
however, been wholly or partially superseded by a new one to fund into
a 3 per cent, bond on a basis for tbe l0-40s of 60 per cent., and for the
6 per cent, consols at 53 per cent. It is impossible to predict with any
degree of probability what action will be taken. West Virginia has
taken no action as to the one-third which Virginia set aside as her share
of the debt.
Quotations.—Consols, 56; 10-40s,43; 38,65; West Virginia share,
interest from 1871,12J,
N O R T H CAROLINA.—This State funded its debt into 4 per cent.
^ bonds, due in 1910, excepting an issue of $2,795,000 North Carolina
railroad-aid bonds maturing in the 80's, held by United States court
to be a lien ou the stock of the railway held by the State. It appears
that these have also been '' extended '' to 1919, carrying the lien. The
State, in this arrangement, compelled a surrender of $240 interest per
$1,000 (overdue coupons). Six hundred and forty-nine thousand dollars
were still unfunded about January 1, 1886. The bonds funded into 4s
were scaled 60, 75, 85 per cent.
Quotations.^4:S, par; new 6s, railroad, funded as stated above, 124.
SOUTH CAROLINA.—The State funded all the recognized debt, under
the aoX of the legislature of 1873, into 6 per cent, bonds due 1893.
Certaiii portions of the debt, issued in 1868, have been declared invalid.
The old ante-bellum debt was scaled 50 per cent, in funding. About
$154,000 of tlie old State capitol bonds remaiu unfunded; also $55,000
Blue Eidge Eailroad aid bonds. These are only recognized so far as that
they are fundable. A portion of the 6s above mentioned having been
declared invalid, a new exchange w.as made in 1879, new bonds being
issuedj:>ro rata, as the old 73s were recognized as valid. The latter are
termed''brown consols."
Quotations.—Browns, 109; non-fundables, 4.
H. Ex. 2
7
98
REPORT ON THE FINANCES.
ELORIDA.—The recognized bonds of the State amount to $350,000
7s of 1901, and $925,000 6s of 1903. The State holds the greater part
of these in its sinking and school funds, buying them in the market. A
$4,000,000 railroad 8 per cent, loau is claimed to be fraudulent and is
not Tccognized. I t is stated that the bonds held by the United States
against the State are recognized, but that the State claims a set-off
against the United States for expenses incurred in Indian wars,
Quotations.'-'Qs of 1903, 113; 7s of 1901, 124.
LOUISIANA.—^The State funded all its old debt into 7 per cents, at 60
cents on the dollar for principal and interest up to 1874; defaulted in
1880, and then by popular votes reduced interest to 2 per cent, for five
years and 4 per cent, from 1885 to 1914.
Quotations—78| to 79,
ARKANSAS.—About two-thirds of the State debt issued for railroads,
levees, &c., has been repudiated by popular votes, &Co The old debt
issued under acts of 1838 at 40 in aid of bauks is ''acknowledged," but
no interest is paid thereon. A portion of these bonds ($500,000) was,
with the accrued interest, funded in 1870 into 30-year 6s. The greater
portion is still unfunded, amounting with interest to about $2,500,000.
It is stated that the debt question will be taken up by the legislature
which will meet the coming winter. The State is in default for interest
to a larger amount than the principal of the recognized debt.
Quotations.—UeGOgnized dehtj Qonpons from 1873, 110.
TENNESSEE.—The State funds the 6 per cent, railroad bonds into new
3 per cents, at 50 cents on the dollar for principal and accrued interest.
(This law of the State superseded one which provided for a 3 per cento
bond for 60 per cent, of old principal and interest—bonds to run until
1912, at interest 3 per cent, for two years, 4 per cent, fbr two years, 5 per
cent, fbr two years, and 6 per cent, from 1888 to 1912.) The old " State
debt" is excluded from this operation; but it appears that this debt,
amounting to $2,118,000, is fundable into some sort of bond—ex-war
interest (for four years). Certain bonds held by the State university
were also excluded from the funding operations. There is a contingent
UaUlity apparently recognized for $1,137,000 bonds of the East Tennessee, &c., and the Nashville and Chattanooga Eailroads, indorsed by
the State.
Quotations 3s, 76J; 5s, 102; 6s, 106.
UNITED STATES BONDS HELD FOR NATIONAL BANKS.
At the close of the fiscal year the United States bonds held for account of the national banks, as security for circulation, amounted to
$275,974,800, a reduction of $36,170,400 during the year. The amount
held as security for public moneys was $19,659,900, an increase of
$2,052,900. Three per cent, bonds held for circulation to the net
99
TREASURER OF THE UNITED STATES.
amount of $34,458,750 were withdrawn, most of which were surrenderedfor redemption.
Per To secure cir- To secure pubculation.
lic moueys.
cent.
Classes of bonds.
Sonds issued to Pacific railroads
funded loan of 1891 .
Funded loan of 1907
Funded loan of July 12, 1882
Total
-
6
f
3
-
Total.
$3,565,000
50,484, 200
114,143. 500
107, 782,100
$120, 000
2, 787, 000
8, 571, 000
8,181, 900
$3,685,000
53,271,200
122, 714, 500
, 115,964,000
275, 974,800
19, 659, 900
295,634,700
The amount of bonds deposited during the year was $26^924,900,
and the bonds withdrawn amounted to $61,042,400, showing a decrease
of $34,117,500.
•
^
SEMI-ANIjrUAL DUTY.
.
The payments by national banks during the fiscal year for semiannual duty assessed upon them on account of circulation amounted
to $2,592,021.33. This amount is $202,562.68 less than t h e duty collected for the year ending June 30, 1885, which decrease is due to the
withdrawal of national-bank circulation, caused principally by the calling in for redemption of 3 per cento United States bonds, a very large
propo>rtion of which were held by the Treasurer in trust to secure circulating notes issued to national banks.
The deposits during the past year on account of reducing and liquidating banks and banks whose charters have expired amounted to the
sum of $50,391,891.75, and the retirement from circulation and cancellation of national-bank notes amounted to $28,948,881, leaving outstanding on these accounts $21,443,010.75 and a corresponding liabiili ty
on the books of the Treasury.
Since the organization of the national banking system the total
amount of semi-annual duty paid by the banks and collected by this
office is, as shown in the appendix:
On circulation
Ondeposits
Oncapital
„
Total
$63,796,798 55
60,940,067 16
7,855,887 74
132,592,753 45
T H E REDEMPTION OF NATIONAL-BANK NOTES.
The national-bank notes presented for redemption during the fiscal
year amounted to $130,296,606, which was $19,912,523, or 13.26 per
cent, less than the amount presented for redeinption in the fiscal year
1885. That there would be a falling off in the amount presented for
redemption was indicated by the amount presented during the first
three months of the fiscal year; and' my opinion, based thereon, and
expressed in my last report, that the culminating point in the second
100
REPORT ON THE FINANCES.
upward movement in bank-note redemptions had been reached ia the
fiscal year 1885, has been verified.
The rate of increase in the redemptions of bank notes during the second upward movement, covering the fiscal years 1882, 1883, il884, and
1885, is represented by the percentages 27,^ 34, 22, and 19, respectively.
A feature of this upward movement was the constantly decreasing volume of national-bank notes actually outstanding from $362,421,988 on
January 1, 1882, to $319,069,932 ,on June 30, 1885, a decrease of $43,352,056. This seems to indicate that the volume of bank notes outstanding during that period was excessive, or above the point at which
it could be profitably maintained. Another fact, however, should be
considered in this connection, which is that during these four years of
increase in redemptions the silver-certificate circulation of the country
was iucreased $75,755,182, from $39,110,729 on June 30, 1881, to
$114,865,911 on°December 31, 1884. This increase much more than
balanced the decrease in bank-note circulation, and the apparent excessive issue of bank notes might to a considerable extent be due to that
fact. The decline in the volume of bank-note circulation has continued
without interruption, until the amount outstanding on Septeinber 30,
1886, as reported by the Comptroller of the Currency, was $303,511,241,
making a total reduction of $58,910,747 since January 1, 1882; and also
after December 31,1884, the silver-certificate circulation gradually decreased, until on July 31, 1886, it had fallen $27,301,867 to $87,564,044.
The average outstanding for a year preceding that date was about
$91,000,000. Since July 1, 1885, the decline in the bank-note circulation has apparently had the effect^ to check the increase in bank-note
redemptions, as they have steadily fallen off from that date, until they
now are for the current fiscal'year about 31 per cent, less than in the
preceding year.
In counting the remittances of bank notes received for redemption
during the year there was found $25,528 in "overs," being amounts in
excessof the amounts claimed, and $8,246 in "shorts," being amounts less
than the amounts claimed—an increase in both items as compared with
the preceding year, when they were $17,060 and $6,445, respectively.
The counterfeit notes rejected and returned represented the nominal
value of $2,720, which was $840 less than the amount rejected during
the preceding year. The total amount of counterfeit notes which have
been found in remittances of national-bank notes since the establishment of the redemption agency at the Treasury in 1874, is $48,519. The
"stolen" national-bank notes, that is, notes fraudulently put in circulation withont the signatures of the bank officers, found in remittances
during the year and rejected, amounted to $420.
As usual, the rnqnths of September and January during the fiscal
year have respectively furnished-the smallest and largest amountof
national-bank notes for redemption, the former month $7,589,000, and
the latter month $17,485,000^a difference of nearly $10,000,000.
From the principal cities the receipts were as follows: From New
TREASURER OF THE UNITED STATES.
101
York, $49,487,000, or 37.98 per cent., exceeding as usual the amount received from any other place.during the year; from Boston, $30,031,000,
or 23.05 per cent.; from Philadelphia, $7,323,000, or 5.62 per cent., and
from all other places, $43,455,600, or 33.35 per cent. The average percentage of receipts for the eleven fiscal years ending June 30, 1885,
from the cities named and all other places was: For New York, 39.02
per cent.; for Boston, 24.53 per cent.; for Philadelphia, 6.07 per cent.,
and for all other places, 30.38 per cent., showing, by comparison, that
in the last year there has been a slight decrease in the percentage of
bank notes received from the principal cities, and a corresponding increase in the percentage received from all other places.
The total payments for national-bank notes redeemed during theyear
were $130,029,625.12, and were made as follows: By the Treasurer's
transfer checks drawn on the assistant treasurers of the United States
and transmitted by mail, $74,149,555.26, or 57.02 per cent.; by United
States notes forwarded by express at the expense of the consignees,
$9,204,752.76, or 7.08 per cent.; by fractionalsilver coin and standard
silver dollars forwarded by express and mail at the expense of the
Government, $555,037.84, or .43 per cent.; by redemptions at the counter, $8,385,485, or 6.45 per cent.; by credits in general account as
transfers of funds from subtreasuries and designated depositories,
$31,007,087.30, or 23.85 per cent.; and by credits in redemption accounts, $6,727,706,96, or 5.17 per cent. It is worthy of remark that
92.92 per cent, of these payments were made without cost to the senders of the bank notes, and that only 7.08 per cent, of the payments
were made at the expense of the consignees for express charges. The
payments made in the preceding year at the expense of the consignees
were42.83 per cent. Year by year the payments in redemption of bank
notes effected by the use of checks and credits have increased untiH)ractically the total redemptions are now so made. ^
The deposits made by national banks during the year to maintain the
5 per cent, redemption fund amounted to $103,359,393.61. Of this sum,
$92,363,184.15, or 89.36 per cent., was deposited for the Treasurer in the
nine subtreasury offices, and afforded rnore than the amount necessary
to pay the transfer checks drawn by him against these offices in the redemption of national-bank notes. Theb^lance ofthe deposits, amounting
to $10,996,209.46, was received directly by the Treasurer—$1,787,241.84,
or 1.73 per cent, of the total deposits, over the counter; $3,433,468.78,
or 3.32 per cent., in lawful money forwarded to him by express at the
consignors' expense; and $5,775,498.84, or 5.59 per cent., in proceeds of
national-bank notes redeemed.
There was assorted and delivered on the 5 per cent, account during
the fiscal year $101,234,035 in redeemed notes. Of this sum $46,701,100,
or 46.13 per cent., was forwarded, to the banks of issue in notes fit fbr
• circulation, and $54,532,935, or 53.87 per cent., in notes unfit for circulation was delivered to the Comptroller of the Currency, to be destroyed
and replaced with new notes. The total amount delivered on the 5 per
102
REPORT ON THE FINANCES.
cent, account was $17,070,465, or 14.43 per cent, less than the amount
delivered in the preceding year. This decrease is the result of a falling off' of $18,136,765 in the amount of unfit notes delivered, and an
increase of $1,066,300 in the amount of fit notes forwarded to banks.
The deposits made by national banks " failed," "in liquidation," and
"reducing circulation" during the year, under the various provisions
of law, for the retirement of their circulation, amounted to $51,209,961.75,
being nearly double the amount so deposited in the preceding year.
This large increase was in great measure due to the calling in for payment'by the Government of its 3 per cent, bonds, which were largely
owned by the banks and pledged with the Government as security for
their circulating notes. Included in the above amount is $32,423,156.75
deposited by banks under the provisions of section 6 of the act of July
12,1882, which requires that " a t the end of three years from the date
of the extension of the corporate existence of each bank the association so extended shall deposit lawful money with the Treasurer of the
United States sufficient to redeem the remainder of the circulation
which was outstanding at the date of its extension."
The amount of notes redeemed, assorted, and delivered during the
year on account of these classes of banks was $29,557,588. The balance on account of these deposits ran up during the year in the sum
of $21,652,373.75, which, added to the balance of June 30, 1885, made
the balance at the close of the year, June 30, 1886, $60,248,705.85, the
largest sum at any time before held in the Treasury for the redemption
of the circulation surrendered by the national ba;iks. The total deposits made on these accounts since the establishment of the national
banking system to the close of the year were $295,225,393, and the total
redemptions of notes out of these deposits were $234,976,687.15. During
the first five months of the current fiscal year, these deposits have
been $37,926,885.25. The redemptions for the same period have been
$11,064,273.50 making an increase of $26,862,611.75 in the balance on
deposit, which on November 30, 1886, was $87,111,317.60.
The assorting and delivering of redeemed national-bank notes at
shorter intervals than formerly, which was adverted to in my last report, was continued throughout the year. The number of packages
prepared and delivered was 106,236, being 44,967 more than in the
preceding year. Of these, 29,690 inclosed notes fit for circulation to the
respective banks of issue, and 76,546 inclosed notes to the Comptroller
of the Ourrency for destruction.
The expenses incurred in the redemption of nationail-bank notes during the year, and paid out of the 5 per cent, fund, were $168,243.35, and
were less by $13,613.81 than the expenses incurred in the preceding
year. They were made up as follows: For charges for transportation,
$74,490.52; for salaries, $89,065.18—$75,322.19 in the Treasurer's office
and $13,742.99 in the Comptroller's office; for printing and binding,
$3,190.89; for stationery, $1,163.65; and for contingent expenses,
$333.11. The charges for transportation cover the cost of transporting
TREASURER OF THE UNITED STATES.
103
the national-bank notes to Washington and the return of .the assorted
notes fit fbr circulation to the respective banks of issue. This item of
expense fluctuates according to the amount of notes presented for redemption, and by reason of diminished redemptions during the year
was $10,764.96 less than in the preceding year. In the expenditure for
salaries there was a saving of $4,306.64, as compared with the preceding year, and a saving of $9,314.82 of the amount appropriated for that
purpose. These expenses will be assessed in the usual manner, in compliance with law, against the national banks whose notes have been
redeemed. The amount of notes redeemed during the year which
under the law are subject to assessment is $128,518,763.50, making the
rate of expense $1.30^^0^ per $1,000.
During the year assessments for expenses of retiring the circulation
of national banks in liquidation, made under the provisions of section
8 of the act of July 12, 1882, amounted to $3,292.20, A charge was
made to that fund on November 16, 1885, of $9,627,21, for its share of
the expenses of the fiscal year 1885 incurred in redeeming the notes of
liquidating banks subject to the provisions of section 8 of the act of
1882, to the amount of $7,658,877, at $1.25^3^ per $1,000, the rate of expense for that year. The balance to the credit of that fund on June
30, 1885, was $33,681.29, and on June 30, 1886, it was $27,346.28.
Tables in the Appendix, numbered 27 to 37, give in detail the transactions during the year in the redemption of national-bank notes.
RETIREMENT OF NATIONAL BANK CIRCULATION.
As there seems to be on the part of the public an idea that the Treasury
is locking up money in its vaults on account' of this fund, the whole
operation of the retirement of the notes of a national bank will be
stated here in order to relieve any apprehension which may be felt on
this subject. The 3 per cent, bonds of the Washington National Bank
of Westerly, E. 1., amounting to $100,000, were called on the 15th day
of September, 1886. On the 12th day of October, 1886, the bank sent
its duplicate receipt to this office, the original being held b y t h e Comptroller of the Currency, with the request that a deposit of 90 per cent,
of the above amount should be made to retire its circulation with the
Treasurer of the United States, as agent for the redemption of the notes
of the national banks, and requesting a check for the 10 per cent, difference. A ccordingly a credit was placed upon the books of the Treasurer,
as agent for the national banks, for $90,000, and a check for- $10,000,
and the amount standing to the credit of the bank in the 5 per cent, redemption fund—in this case $4,500—returned to the bank. The amount
of redeemed notes charged to this account since it was opened is $1,892.
The annual percentage of such redemptions is 25,22, and it will therefore take at least four years before the greater part of the notes of
this bank will be redeemed. The amount credited to the general
fund thus created stands onthe books of the Treasurer, as agent, as a
104
REPORT ON THE FINANCES.
credit for the redemption of the notes of the banks, and as the notes
come in tor redemption they are charged to this account, and the national-bank circulation outstanding is decreased by a corresponding
amount. At present, owing to the active business season, none but
mutilated notes are sent in for redemption. Persons presenting these
notes for redemption are paid either by check on New York or in siich
form of currency as may be desired by them. The indebtedness on the
part of the Treasury, created as above described, is, no doubt, due in
legal-tenders, but is liquidated in the manner stated, and no attempt is
made to reserve any specific sum of legal-tenders, or any other form of
currency, out of the general Treasury balance in which to pay these constantly accruing liabilities. There wason November 30 of this kind of liability, adding the 5 per cent. fund,<'Which, theoretically, is also composed
of legal-tenders, the sum of $94,752,389. The total amount of legal-tenders in the Treasury on the same date, exclusive of that held to redeem
the legal-tender certificates which are used in the banks as reserve
in their steady was $29,548,188, thus showing that there must be held
in the Treasury in some other forms of money the balance of $65,204,201.
The entire sum of $94,752,389 may be said to be composed of $29,548,188
legal-tenders, $32,602,100 standard silver dollars, and $32,602,100 gold.
If the books of the Treasury stated accurately the balances due by it
as a depository, the amount now reported as a credit balance would
be materially decreased. That these balances should not be soreported is, in the opinion of the Treasurer, one of the greatest defects of
the present Treasury system.
THE WORK OF THE OFFICE,
The Treasurer again commends, with great pleasure, his subordinates
in office for attention. and accuracy in their responsible duties, and,
while doing so, expresses the hope that at no distant day some method
may be adopted which will duly reward their long and faithful service.
A bill passed by Oongress which would provide half pay for officials
who have grown gray in the service of the Treasury, would be a measure
alike of justice jind good sense, as it would increase the efficiency of
the office, and furnish an inducement to clerks skilled in their duties
to remain in the service of the Government. The thanks of the Treasurer are due especially to Messrs, J. F. Meline, Thos. E. Eogers, D.
W. Harrington, F. Weiler, Chas. L. Jones, F. W. Lantz, and J, Oa
Manson, of his office; Mr. E. B. Elliott, Government Actuary, and Mr,
M. L. Muhleman, of the New York sub-treasury, for valuable services
performed by these gentlemen, in addition to their^negular duties.
Very respectfully, your obedient servant,
C. N. JOED AN,
Treasurer of the TJnited States.
Hon. D A N I E L MANNING,
Secretary of the Treasury,
STATEMENT showing, by offites, the CHAltAcTEH of the ASSETS of the TMEASUEY, the LIABILITIES,
"Washington.
ASSETS.
Gold Coin
Gold Bullion
Standard Silver Dollars
Subsidiary Silver Coin
Silver Bullion
Gold Certificates
Silver Certificates
United States Notes
National-Bank Notes
Fractional Currency
Minor Coin
liedeemed Certificates of Deposit, Act June 8,1872.
Quarterly Interest Checks and Coupons paid.
Interest oni District of Columbia Bonds paid.
United States Bonds and Interest redeemed.
Balances in Sub-treasnnes to the credit of Mints and Assay-Offices .
Unavailable Funds
Total Snb-treasnries, Mints, and Transit
Deposits in National-Bank Depositaries
Minor Coinage Metal Fund, United States Mint, Philadelphia.
Kecoinage Account, United States Mints
Baltimore.
Cincinnati.
Philadelphia.
New York,
$24,837,770 75
$3, 571, 225 50
$92,08G, 482 00
$2,131,576 00
$11, 682, 855 CO
"si,"315,"229*66"
2,242,304 54
"^575,382" 66'
545, G09 10
"27," 559,'666" 66'
9,456, 879 65
*10,"5i5,"760*66*
3,335,535 00
213,224 00
1,071,900 35
37,530 00
1,920, 020 00
1, 757, 347 00
13,305 00
50, 037, 040 00
13, 012, 300 0J
20,205,501 31
1,243,550 00
1, 699, 620 00
3,362,071 00
11,884 00
189 22
109,460 00 i
477.310 00
5,737,370 CO
6, 78 G, 878 24
3,909,433 (J5
2,244 70
20, 017 82
1 00
38,026 93
130,000 00
793 11
3,789,163 51
28,112 00
36 00
133,732 93
34, 806 98
591 35
180,000 00
7,446 74
327,"440 00
4,084,110 00
1, 848, 602 00
99,809 00
40,747 14
200,000 00
11.802 42
$5, 758,475 00 •
392, 666 66",
81,800 00 j
io'ooo 00
75, 000 00 1
1, 522,456 26 j
5,000 00 |
4, 325 00
20,000 00
1, 825 13
and the JIALaXCE
Chicago.
hi
Saint LouiB.
11,589,239 64
212,568,901 00
Xew Orleans.
San Francisco.
$4,145,087 00
i, 383, 380 00 |
844,367* 00
600, 561 70
22,553, 581 00 I
7,527, 5G0 79 j
415,400 00
167, 030 00
454, 070 00
8, 640 00
134,740 00
177, 650 00
488, 574 00
8, 330 00
11,160 17
2,071 11
$1,759,200 00
676, 000 00
250, 000 00
2,177, 670 00
10, 000 00
200 00
10,961 84
3, 728 11
$8,187,200 00
553*66'
150, 000 00
656," 006* 00
2,800 62
20,180,489 91
7, 870,881 39
10,085,551 95
22,193,693 17
7,103,913 90
56,274,078 94
$2, 531 80
2, 000. 000 00
1,975 83 i
5, 000 00
2, 567, 566 33
134, 000 00
3 43 |
7,963 34 j
28,842,400 21 1
413, 557 96 |
Total
. Unavailable Funds, General Account: Mints and Assay-Offices
National-Bank Depositaries .
Other Depositaries
Total assets
Treasurer's Transfer Account .
$10, 537, 547 50 J
42, 474, 087 74
50,144, 816 02
26, 807 84
3, 257, 888 15
690 53*
702,533 09
22,597,091 96
Mints and assay-1
Moneys in
offices, bullion 1 transit between
fund.
offices.
j
* *3, 293," 564" 00 "16," 853* 940" 00
2,095,700 CO
1,902,228 00
13,818 78
99,117,721 67
GENERAL ACCOtitf? June BO, lestf.
135,699,144 73 |
125, 000 00 I
"I
4,842,061 47
Balances.
$190, 080, 798 75
42, 474, 087 74
181, 265,,394 82
28, 8 8 6 ,,946 97
3, 257,,8H8 15
55, 509,,610 00
27, 728,,100 00
41, 828, ,777 97
4, 228,2 513 05
670 93
37?,307 04
530,,000 00
69.,609 36
591
,163
28, 967,,400
1,129,,909
35
51
21
83
610,122,769 73
16, 553, 347 SI
50, 000 00
7, 5C8 29
626, 733, CSS 83
71,561 06
214,501 38
3,702 17
71,561 06
627,023,510 44
18,238,061 98
18,23a, 061 98
Total.
Total.
$645,361,579 43
117,355,783 65
i
LIABILITIES.
Due depositors for Silver Coin, &c
Disbursing Officers' Balances and other small accounts..
Post Office Department Account
Interest Account, District of Columbia Bonds
Treasurer's Transfer Account
Funds for redemption of National-Bank Notes
Treasurer's Checks and Drafts Outstanding
Treasurer's Drafts Outstanding, National-Bank Depositaries..
Disbursing Officers' Balances in National-Bank Depositaries ..
263,511 40
2,224,250 18
2, 310, 830 33
498, 6S6 43
70,603, 820 81
20G, 777 57
75,934,365 32
285,428 65
56, 997 67
8,515,158 36
543,343 55
565,849 22
3C5,900 70
829, 635 83
652, 503 36
1,613,042 85
2,219,455 20
3,068,854 15
3,369,015 25
144, 539 33
2,026,036 67
42,853,578 73
4,076, 761 02
4,995,693 57
91,758 43
350,684 68
"1*088," sftToe
" 123," 768* 73
1,635,124 90
1,005,199 30
464,473 96
822,290 18
351,312 61
259,861 24
168, 298 60
900,203 36
126, 714 52
231,288 02
2,631,073 64
2,560, 527 73
1,425,892 08
134,985 28
112,927 15
95, 898 68
323"444*96
1,835,946 56
3,917; 603 58
3,084,586 25
!, 576,254 92
143,219,462 92
115,523 90
2,615,753 11
145, 950,739 93
499,310,832 49
Total Liabilities
Treasurer's General Account...
BALAXCK AS SHOWN BY* REGISTER'S BOOKS
Balances: Sub-treasuries, Hulliou Fund, and Transit
Nation aUf an k Depositaries
Minor Coinage Metal Fund, United States Mint, Philadelphia .
Recoinage Account, UniH'd States Mints
m Unavailable Funds: National-Bank Depositaries
"
Other Depositaries
263,511 40
45,499,634 75
5,391, 059 98
498,686 43
18,238,061 98
70, 693, 820 81
2.634, 687 57
41,421,418 33
9,563,202 97
169,715,322 27
18,520,33a 94
15,184,796 34
6,215,756 49
8,249,605 39
18,276,089 59
4,019,327 65
53,697,824 02
-I.
135,770,705 79
J.
4,578,550 07
485,212,929 85
13,622,070 80
50, OUO 00
7, 5G8 29
214, 561 38
3,702 17
18,739,112 91
7, 997 64
Balance, Treasurer's General Account
Add amount cf ciedit in adjustment of deficits U. S. Depositary, Baltimore (see p. 61).
498,747, 110 55
28,101, G44 91
Balance as shown by Warrants issued June 30,1886 (see page 61)
Unavailable amounts on deposit with the States
536,S4S,755
TREASURY BALANCE RECONCILED WITH REGISTER'S BOOKS.
STATEMENT
Denver.^
Unavailable carried as assets
$105,290 42
Carson City.
showing by offices the composition of the BULLION
New Orleans,
j Philadelphia.
$35,770 00
466, 748 63
1,279,260 48
891," 547 35 j
1,905 83
03
43, 976 35
154,454 32
151,172 93
4,827,780 58
$6,409, 807 50
21.031,556 23
27,656,395 54
19, 613 24
1,525.858 47
San Francisco.
$4,090,455 00
1,040,300 41
19,207, C64 00
7,1G2 55
376,208 31
464,423 10
57,107,684 08 I
24,721,790 27
413, 557 96
Bullion Fund as reported by Mints and Assay-Offices
Unavailable items not carried as assets by Mints and Assay-Offices.
Total Bullion Fund.
H. Ex. 2—Page 105
536,848,755 46
499,310,832 49
571,719 58
Total
Less amount not covered by Warrants (see page 61)
Bullion Fund, Treasurer's General Account
Gold Coin
Gold Bullion
Standard Silver Dollars
Subsidiary Silver Coin
I....
Silver Bullion
United States Notes
Minor Coin
Balance in Sab-treasuries and National*Bank Depositaries.
645,361,579 43
151,172 93
4,827,780 58
57,107,684 <
25,135,348 23
FUND on June 30, 1886.
Bois6 City.
$16,027 44
Charlotte.
$6,873 69
Helena.
$101,030 25
New York.
$1,495 00
19,703,473 70
1,496 00
50 25
4G4, 204 78
Saint Louis.
10,188 46
10,861 38
8,703 07
22
28,136, 079 64
26,215 90
17,735 07
109,734 22
48,300,799 59
36,674 13
11,611 03
32,000 00
37,826 93
49,735 07
48,306,799 59
16,674 13
Total.
$10, 537, 547 50
42, 474, 037 74
50, 144,816 02
20, 807 84
3,257,888 15
1,975 83
3 43
23,842,400 21
$20 00
2,786 97
ii'so*
69 44
70 00
3 23
13, 712 99
109,734 22
Dahlonega.
Balances.
§135,770,705 79
135,285, 5S6 77
413, 557 90
$27,950 03
135,699,144 73
71,561 00
$27, 950 03
135,770,705 79
135,770,705 79
APPENDIXo
O
00
WOe v.—RECEIPTS and EXPENDITUBES for the FISCAL YEAR 1886, as shown ly WABBANTS issued.
Receipts covered in, to the credit o f -
issue of notes
and bonds.
$192,905, 023 44
116, 805, 936 48
5,630, 999 34
21,097,767 80
Onstoms
Internal Revenne
Lands
Miscellaneous Sources .
Total Net lievenue
Publio D e b t Funded Loan of 1907
Gold Certiflcates
-.Silver Certi ficates
Certificates of Deposit (Act of J u n e 8, 1872).
United States Notes
$1,122,614 78
47,490 29
$78,189 10
294 33
Total.
$194,105,827
116,853,721
5,630, 999
21,097,767
32
10
34
80
336,439,727 06
o
1,040, 000 00
4, 600,000 00
47, 635, 000 00
63, 000, 000 00
116,314,850 00
*.
452,754,577 06
2,815 48
1, 236, 888 33
724, 561 45
6,199, 668 33
83, 065 44
2, 664,351 86
24,029 52
28 76
191,622 55
88, 035 57
5, 885,169 68
422,712 13
3,179 93
513, 553 00
34, 216 88
12, 297,136 79
7, 066,719 40
41, 368 78
=
116,314,850 00
2,815 48
1, 324, 923 90
6,609,731 13
6, 622, 380 46
86,245 37
3,177,904 86
58, 246 40
28 76
232,991 33
472,118,433 25
493, 684, 383 71
965,802,816 96
Expenditures authorized by warrants fromappropriations on account of-rCustoms, Lighthouses, Public Buildings, &c
Intemal Eevenue
Interior Civil
Treasury proper
Diplomatic
„
Quarterly Salaries
Judiciary
»
,
Repayments to Connter credits
appropriations. to appropriations.
$39,850 00
Interest on the Public Debt
W a r Department Appropriations
Navy Department Appropriations —
Interior I)ei)artment Appropriations.
Interior Civil Appropriations
Treasury proper Appropriations
i.
Diplomatic Appropriations'.
Quarterly Salaries Appropriations
Judiciary Appropriations
Total Eeceipts
Balance, as shown by last report, J u n e 30,1885
Total.
Net receipts.
$24,165, 246 36
4,113,319 90
7, 306, 224 44
33, 323,749 66
1, 332,320 88
616, 379 42
3, 309,689 19
Net
expenditures.
Repayments
of amounts unexpended.
$1,122, 614 78
47,490 29
83, 065 44
2. 664, 351 86
24, 029 52
28 76
191, 622 55
Amounts
recredited to
appropriations.
$78,189 10
294 33
3,179 93
513,553 00
34, 216 88
41,368 78
Total.
$25, 366,050 24
4,161,104 62
7, 392,469 81
36, 501, 654 52
I, 390, 567 28
616,408 18
3, 542,680 52
o
H
w
>
o
War Department
Navy Department
Interior Department
Interest on the Public Debt
'
-.
Total Nftt ExnenditTirfts
Eedemption ofthe Public Debt—
Grold Certificates
Silver Certiticates ..
..
Certificates of Der)osit <'Act of J a n e 8 1872>
.
Total expenditures
Balance, as shown by warrants issued, June 30, 1886
:
85
74
74
20
97
1, 236,888
724,561
6,199, 668
2,816
33
45
33
48
88,035 57
5,885,169 68
422,712 13
242, 483,138 50
.
United States Notes... .
.Practional Currency
Old Demand Notes
Treasury Notes prior to 1846
.
7-30s of 18G1
7-30s of 18C4 and 1865
One Year Notos of 1863 . . . .
..
. . .
Two Year Notes of 1863
Compound Interest Notes
^
Loan of J u l y and August, 1861
Loan of 1863
Oregon War Debt
'
5-20sofl862
5-20s of 1864
5-20sof 1865
I0-40sof 1804
Consols of 1865
Consols of 18G7.Consols of 1808
'
Funded Loan of 1881
Loan of July 12, .1882
Loan of July axid August, 1861, continued at 3^ per cent
Loan of 1863, continued at 3^ per cent
.
Funded Loan of 1881, coutinued at 3^ per cent
^
Total.r
$74,166,929
34,324,152
13, 907, 887
69, 504, 022
50, 580.145
... ... ..
10,188, 895
28,523, 971
58, 920,000
32, 800
63, 000,000
10, 088
505
100
50
1, 900
1, 290
200
5, 560
2, 500
1,100
100
67, 500
4, 300
300
14, 250
15, 900
26, 950
12,250
49, 800
44, 044, 800
96, 750
4,100
190, 750
..'..
.'. ..
.
..
'
-.
...
-
-
00
00
00
00
00
36
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
35,649,076
20, 517,618
76,126,402
50, 582,961
64
87
66
45
^
CQ
w
o
H
w
M
c
205,216,709 36
205, 216, 709 36
447, 699, 847 86
12,297,136 79
7.066 719 40
467, 063, 704 05
498.739,112 91-
H
H
965, 802, 816 96
O
110
REPOET
GN T H E
FINANCES.
W o . 2.—COMPABATIVE S T A T E M E N T o f B E C E I P T S for the fiscalyears 1885 an<8
1886, as shown hy WABBANTS I S S U E D .
Fiscal year.
Customs.
Intemal revenue.
Lands.
$181,471,939 34 $112,498,725 54
192,905,023 44 116, 805, 936 48
1885
1886
Increase in 1886..
Decrease in 1886.
Wo.
11,433,084 10
4,307,210 94
MisceUaneous
sources.
Total net rev-enue.
$5, 705, 986 44 $24, 014, 055 06 $323,690,706 38
5, 630, 999 34 21, 097, 767 80 336,439,727 06
74,987 10
2,916,287 26
12,749,020 68
S.—COMPABzlTIVE S T A T E M E N T of E X P E N D I T U B E S for thefiscal yeara
1885 and 1886, as shown hy WABBANTS I S S U E D .
Fiscal
year.
Interest
War
Civil and
on the public miscellaneous.
Department.
debt.
Navy
Department.
Interior
Department.
Total net
expenditures.
1885
$51,386,256 47 $87,494, 258 38 $42, 670, 578 47 $16, 021, 079 67 $62,654,7G2 12 $260,226,935 11
50, 580,145 97 74,166, 929 85 34, 324,152 74 13,907, 887 74 69, 504, 022 20 242,483,138 50
1886
Deer. 1886
17,743,796 61
806,110 50 13, 327, 328 53 ' 8,346,425 73 2,113,191 93
6, 849, 260 08
Incr. 1886
N o . ^.—COMPABATIVE S T A T E M E N T of BALANCES in the TBEASUBY at the
close of thefiscal years 1885 and 1886.
B a l a n c e a s s h o w n b y l a s t r e p o r t , J u n e 30,1885.
N e t r e v e n u e , 1886
N e t e x p e n d i t u r e s , 1886
$493,684,383 71
$336,439,727 06
242,483,138 50
93,956, 588 56
E x c e s s of r e v e n u e o v e r e x p e n d i t u r e s .
587,640,972 27
Public debt.
Bonds and securities ..
F u n d e d l o a n of 1907
Silver certificates
Gold certificates
Certificatesof deposit
( a c t o f J u n e 8,1872)..
United States notes . . .
L o a n o f J uly 12,1882...
E e f u n d i n g certificates
Fractional currency...
Issues during
fiscal y e a r .
Eedemptions
d u r i n g fiscal
'year.
$39, 850 00
4, 600, 000 00
I, 040, 000 00
28,523, 971 00
10,188,895 00
$496,155 00
47, 635, 000 00
63, 000, 000 00
Total
116,314,850 00
N e t e x c e s s of r e d e m p t i o n s o v e r i s s u e s
B a l a n c e J u n e 30,1886.
E x c e s s of iss u e s o v e r redemptions.
E x c e s s of r e demptions
. overissues.
$496,155 00
$39,850 00
58, 920, 000
63, 000,000
44, 044, 800
32, 800
10, 088
'23,923, 971'66
9,148. 895 00
00
00
00
00
36
44, 044, 800 00
32, 800 00
10, 088 36
205,216,709 36
39,850 00 I 88,941,709 36
11. 285, 000 00
88,901,859 36
498,739,112 91
TREASURER OF THE UNITED STATES.
Ill
Wo. ^.—EXPLANATOBY STATEMENT of the DIFFEEENCES BETWEEN ihe
BALANCE in the TBEASUBY June 30,1886, asshown ly the PBECEDING STATEMENTS and the BOOKS of the BEGISTEB, and the CASH, as shoion ly the PUBLIC
DEBT STA TEMENT published June 30,1886.
The cash in the Treasury, as shown by the Publio Debt Statement, is made up from the returns received on the day on which the statement is pubUshed.
The amount on June 30,1886, was
..^
, . $492,917,173 34
The receipts prior to the close of the year, reported subsequently were
as follows:
By the Assistant Treasurer U. S.:
Baltimore, Md
.=
$10,411 10
NewYork, N . Y
=
414,03079
Philadelphia,Pa
77,179 61
Boston, Mass
:
335,268 86
Cincinnati, Ohio
15,869 83
Chicago, IU
60,698 89
Saint Louis, Mo
31,424 42
NewOrleans, La
47,333 76
San Francisco, Cal
216,415 53
And by National-Bank Depositaries
3,658,544 51
Total
\
4,867,177 30
Certificates of deposit (act of J u n e 8, 1872) issued subsequent to the
dates of the returns used
140,000 00
Unavailable funds not included in the cash reported in the Debt Statement
1,386,481 85
Total
6,393,659 15
This total is reduced by the receipts not covered into the Treasury on
Jnne 30,1886, viz:
Assistant Treasurer United States s
Baltimore, Md.^
$20,241 39
NewYork, N . Y
109,151 43.
PhUadelphia, Pa
88,605 92^
Boston, Mass
70,935 43
Cincinnati,Ohio...
3,325 27
Chicago.lU
10,112 26
Saint Louis, Mo
37,679 96
New Orleans,La
7,936 20
SanFrancisco, Cal
24,392 08
Treasurer U. S., Washington, D. C
27,313 15
National-Bank Depositaries
172,026 49
._
571,719 58
.Leaving
.-.
'.
5,821,939 67
Balance Treasurer's Oeneral Account
a
498,739,112 91
Amount of credit directed by; the Secretary of the Treasury in the compromise of unavaUable item, U. S. Depositary, Baltimore, not yet received by the Eegister
7,997 64
Makin g the balance by warrants, as per Statement No. 1
Amonnt on deposit with the States
498,747,110 55
28,101,644 91
Making the total Treasury Balance
526,848,755 46
Treasury Balance, J u n e 30,1886, as reported by the Register
526,848,755 46
Wo. (8.—BALANCES STANDING to the CBEDIT of DISBUBSING OFFICEBS
and AGENTS of the UNITED STATES June 30, 1886.
Office in whioh deposited.
Treasury United States, Washington, D. C
Sub-treasury United States, Baltimore, Md
Sub-treasury United States, Boston, Mass
Sub-treasury United States, Chicago, 111
Sub-treasury United States, Cincinnati, Ohio
Sub-treasury Uuited States, New Orleans, La. ..
Sub-treasury United States, New York, N. Y . . .
Sub-treasury United States, Philadelphia, P a . . .
Sub-treasury United States, Saint Louis, Mo. ..
Sub-treasury United States, San Francisco, Cal.
National-Bank Depositaries
Total
.'
,
Amount.
$1,397,864 21
276, 688 65
780,169 41
998, 933 91
80, 316 20
257, 721 90
9, 203, 378 03
, 506,237 60
807,474 80
1, 022.569 82
2, 615, 753 11
17, 947,107 6
NOTE.—Balances to the credit of Mints and Assay Offices for the purchase of bulUon are not included
in this statement.
W o . K.—STATEMENT shoiving the TOTAL AMOUNT of the CLASSIFIED B E C E I P T S and D I S B U B S E M E N T S onaccountof TBANSFEB8,
B E V E N U E S , B E D E M P T I O N S , and EXCHANGES, hy TBEASUBY OFFICES for thefiscal year ending June 30, 1886.
Eeceipts at office of—
National bank
notes.
Pr. ct
$40, 443, 840 17.1
Treasurer U. S., Washington
2, 321, 665 10.5
Ass't Treas. U. S., Balti rnore
6,. 450,410 1.7
Ass't Treas. U. S.,NGW York.
4, 204,103 6.8
Ass't Treas. U.
Philadelpbia .
9, 329, 089 13.1
Ass't Treas. U. , Bo.ston
2, 002, 995 9.8
Ass't Treas. \T. , Cincinnati
4,100, 043 12.0
Ass't Treas. IJ. , Chicago
2, 804, 640 11.2
Ass't Treas. U. , Saint Louis ..
1, 350, 290 7.6
Ass't Treas. U. , New Oiieans.
Ass't Treas. U. , San Francisco
Total..--
73, 007, 075
Disbursements at office of—
Treas. U. S., Washington
Ass't Treas. U. S., Baltimore
Ass't Treas. U. S., New York
Ass't Treas. U. S., Philadelphia ..
Ass't Treas. U. S., Boston
Ass't Tieas. U. S., Cijociimali
Ass't Treas. U. S., ChicajiO
Ass't Treas. U. S., Saint Louis...
Ass't Treas. U. S., New Orleans .
Ass't Treas. U. S., Sau Fi-ancisco
Total
Eedemptions dnring tbe year . . .
Total
Net increase of amount on hand.
Net decrease of amount on hand
United States
notes.
$73, 058,
14,178,
159, 215,
39, 618,
47, G18,
8,184,
9, 672,
10, 626,
4. 023,
576,
V G o l d certificates.
Silver certificates.
Standard sUver
dollars.
Pr. ct
Pr. ct
P r . ct.
P r . ct.
P r . ct.
31.0 $22, 560, 301 9.8 $11, 797, 505 5.0 $39, 364, 895 16.6 ^$44,996,155 19.4
1, 296, 235 5.9
3, 000, 330 13.6
64.4
66, 272 0.3
244, 030 1.1
40.6 28, 277, 901 7.2 136, 900, 350 34.9 34, 013,163 8.7 15, 003, 587 3.8
3, 792, 066 6.2
64. 5 2,190, 354 3.5
983, 220 1.5
8, 612, .340 14.1
3, 383, 643 4.8
67.1
6. 170, 790 8.6
798, 701 1.2
2, 729, 640 3.8
40.2
4, 897, 820 24.1
1, 955, 848 9.6
782,480 3.8
I, 832, 195 9.0
28.2
6, 738, 430 19.6
3,100,300 9.0
792, 780 2.3
8,i765,157 25. 6
42.4
570,120 2.3
5, 838, 590 23.2
2, 966, 425 11.8
1, 567, 985 6.3
22.7
2,296, 320 13.0
2, 714,5
3, 758, 560 2 L 2
15.3
3,221,199 18.2
3.0 15, 359, 352 79.2
2,929, 095 15.0
52,210 0.3
30,450 0.2
Fractional sUver
and mixed.
Total
Pr. ct
$2,940, 504
925, 976
12, 043,348
2, 068,834
1, 029,489
712, 761
1,125, 238
711, 287
356, 164
441, 167
06
01
89
48
20
72
27
59
90
63
L l $235,161,443 06
4.2 22, 033,261 01
3.1 391, 904,190 89
3.4 61,469, 260 48
L 4 71,059, 669 20
3.5 20,368; 599 72
3.3 34,294, 346 27
2.8 25,085, 347 59
2.0 17,719, 947 90
2.3 19, 388. 526 63
8.1 366, 771, 652 40. i 84, 639, 417 9.4 158, 610, 895 17.7 110,963,128 12.4 1*82,137, 653 9.1 22,354, 772 75 2.5 898,484,592 75
12, 320, 610
16,452,000
14,213,000
to, 307, 000
t2, 002, 095
1-4, IOO, 043
t2, 796, 000
tl, 354,000
72,117,
16, 435,
158, 330,
45, 370,
48, 405,
7, G91,
8, 244,
10, 79.5,
3, 902,
840,
86.0
74.5
45.4
72.1
75.4
43.4
22.7
48.6
15.4
L8
32, 545, 648 .
39, 392, 572! •
372, 133, 977 50.9
71, 938, 220 .
1, 068, 855|.
372,133, 977
, 362, 325
* I n c l u d i n g $30,250,000 t r a n s f e r r e d from m i n t s .
(xold coin.
2.0
5.4
27.3
2.4
5.0
4.9
2.4
2.1
15.2
0.1
6,448, 674 7.7
1,886, 280 8.6
51, 219,113 14.7
8,167, 640 12.8
4,203,510 6.4
4, 822, 820 27.2
6, 842,430 18.8
5, 672, 560 25.5
3, 805,120 15.0
30; 450 0.1
2, 617,
1,349,
16,652,
3,482,
4,740,
2,640,
7,959,
2, 371,
11,712,
78, 200, 400 10.7 108, 665,170 14.8
10,188, 895
93, 098, 597 12.7
28, 523,971
54, 466, 229
152, 277 0.1
76, 324 0.4
15, 478, 700 4.4
1, 625,174 2.7
2, 395, 637 3.6
, 747,120 4.2
8,711,217 24.2
1, 897, 985 8.5
1,490,000 5.9
45, 625, 972 94.2
78, 200,406
6, 439, OII
1, 398, 540
1,196, 670
95, 203, 960
1,485,130
3, 284, 350
857,480
885,780
453, 610
3, 847, 440
52, 210
118,854, 065
39,756,830
121,622,668
10,659,440
3.1
728, 057 27 L l
83,462, 627
6.1 1,103, 330 51 5.0 24, 368,894
4.8 11, 912,345 06 3.4 355, 249,308
5.5 2, 838,569 48 4.5 67,182, 746
7.3 1, 576,303 38 2.3 73, 912,947
14.9
960, 776 92 5.4 19, 722,820
21.9 3, 652,140 35 10.0 40, 395,404
10.7 I, 021,093 39 4.6 26, 008,650
46.3
559, 482 55 2.2 26, 671,484
1.9
931, 503 23 L9 48,418, 835
27
51
06
48
38
92
35
39
55
23
7.4 25,283, 602 14 3.5 764, 393,629 14
78,105,438 00
54,466,229
27,671,424
INO
25,283,602 14
2* 928," 829* 39
t Transferred to Washington for redemption.
842,499,067 14
O
W
>^
03
TREASURER OF THE UNITED STATES.
113
M o . 9 . — B E C E I P T S and E X P E N D I T U B E S on ACCOUNT of the POST-OFFICE
D E P A B T M E N T for the fiscal year 1886, as shown hy WABBANTS P A I D .
Eeceipts covered into the Treasury...
Eeceipts by postmasters
.".
i
$26,593,885 64
26,403,249 62
Totalnet receipts
52, 997,135 26
Balance due the United States June 30,1885
3,115,850 11
Total
56.112,985 37
Expenditures by Treasurer on warrants
24,279,336 10
Expenditures by postmasters
:
26,403,249 62
Total expenditures
50,682,585 72
Balance due the United States June 30,1886
5,430,899 65
Total
.56,112,985 37
NOTE.—Of the receipts covered into the Treasury the sum of $8,714,422.02 was appropriated by acts
of Congress to make good deficiencies in the postal revenues.
W o , 9.—SEMI-ANNUAL DUTY ASSESSED upon and COLLECTED from NATIONAL BANKS hy the TBEASUBEB OF T H E UNITED STATES for thefiscal
years from 1864 to 1886, inclusive.
Fiscal year.
O n circulation.
1864........
1865
1866
1867
1868
1869
1870
1871........
1872
1873
1874
1875
1876
1877
1878
1879.
1880
1881
1882
1883
1884
1885
1886
$53, 193 32
733, 247 59
2,106, 785 30
2, 868,636 78
2,946, 343 07
2,957, 416 73
2, 949,744 13
2, 987,021 69
3,193, 570 03
3, 353,186 13
3,404, 483 11
3, 283,450 89
3, 091,795 76
2, 900,957 53
2, 948,047 08
3,009,647 16
3,153,635 63
3,121,374 33
3,190,981 98
,3,132,006 73
3, 024,668.24
2,794, 584 01
2, 592,021 33
Total
63,796,798 55
Ho Ex. 2 — 8
O n deposits.
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, 509
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
2, 773,790
87
86
77
09
44
58
61
85
37
29
72
39
64
38
74
90
61
12
47
46
60,940,067 16
On.capital.
$18, 432 07
133, 251 15
406, 947 74
321, 881 36
306, 781 67
312.918 68
375, 962 26
38.5, 292 13
389, 356 27
454, 891 51
469, 048 02
507.417 76
632, 296 16
660, 784 QO
560. 296 83
401,920 61
379,424 19
431, 233 10
" 437, 774 90
269, 976 43
7,855, 887 74
Total.
537 26
1, 954,029 60
5,146, 835 81
5, 840, 608 23
5,817, 268 18
888 99
. 5, 884,
'5, 940,474. 00
6,175, 154 67
0, 703,910 67
7, 004,646 93
7, 083,498 85
7, 305,134 04
7, 229,221 56
7, 013,707 81
G, 781,455 65
(i, 721,236'67
7, .591,770 43
8, 493,552 55
9,150, 684 35
6, 175,773 ()2
3, 024,668 24
2, 794,584 01
2. 592,021 3 3 '
132, 592,753 45
^O,
l i ^ o — S T A T E M E N T hy LOANS of U N I T E D STATES BONDS H E L D in T B U S T f o r NATIONAL B A N K S June 30,1886, and of C H A N G E S
during the fiscal year 1886 in t h e C H A B A C T E B of B O N D S H E L D .
^
Deposits and withdrawals during fiscal year—
Bonds held in trust J u n e 30,1886—
Bonds held in trust J u n e 30,1885—
For circulation.
Title of loan.
For circula- For public
tion.
deposits.
C TER CENT.
Bonds issued to Pacific Eailroads
4 i PEK CENT.
Funded Loan of .1891
.*
4 PER CENT.
Funded Loan of 1907
3 PER CENT.
Loan of July 12,1882
Withdrawn. Deposited.
For circulation.
Withdrawn.
^
$120, 000
$3, 640, COO
48, 483, 050
2, 040, 000
50, 523, 050
7, 205, 600
5, 204,450 $1,347,000
$600, 000
50,484,200
117, 901, 300 7, 552, 000 125, 453, 300
7, 788, 800
11, 546, 600 2,029,000
1, 010, 000
114,143, 500
8, 571,000 122,714,500
5, 700, 500
40,159, 250
2, 794, 000 2, 507,100
107, 782,100
8, i81, 900 115,964,000
20, 754, 900
56,925, 300
6,170,000
275, 974,800 19,659, 900 295, 634, 700
142, 240, 850
1.1,-BEDEMPTIONS
$60, 000
$15,000
$3, 565, 000
7, 895, 000 150,135, 850
329, 752, 200
4,117,100
T o J u n e 30,1885.
Total
$3, 685, 000
O
2, 787, 000 53, 271, 200
D e d u c t i o n s o n a c c o u n t of m u t i l a t i o n s .
Issue.
$120,000
.. ..
'
..
w
of U N I T E D S T A T E S C U B B E N C Y for thefiscalyear 1886, and TOTAL B E D E M P T I O N S to June W, 1886.
Eedemptions-(net value).
^
Total.
$3, 520, 000
312,145, 200 17, 607, 000
Old D e m a n d N o t e s
United States Notes
One a n d T w o .Year N o t e s
Oompound Interest Notes
Fractional Currency
Silver Certificates
O o l d C e r t i f i c a t e s of 1882
For public
deposits.
o
Total
No.
Deposited.
Total.
For public deposits.
.
$59,969. 921 25
1,647,044,925 50
210,931.023 CO
266. 389, 990 00
353, 259, 008 40
73, C48, 354 00
53, 419,140 00
2, 664, 662, 362 15
T o J u n e 30, 1886.
T o J u n e 30.
1885.
$505 00
$59, 970, 426 25
63, 000, 000 00 1, 710, 044, 925 50
1, 830 00
210, 932, 853 00
5,310 CO
266, 395, 300 00
10,088 36353, 209, 096 76
28, 523, 971 00
102,172, 325 00
63,473,175 00
10,054, 035 00
$2,131 25
180, 086 50
392 00
4S0 00
141, 721 15
426 00
20 00
I n fiscal y e a r .
101,595,739 3G
2, 766, 258,101 51
•
325, 256 90
Infiscai
year.
T o t a l face v a l u e
of n o t e s r e deemed.
T o J u u e 30,
1886.
50 62
339 00
15 00
$59 972, 557 50
$2,131 25
184,152 50 I, 7x0, 229, 078 00
210, 933, 245 00
392 00
266,395,780 00
480 00
353,410,868 53
141, 771 77
102,173,090 00
765 00
63,473,210 00
35 00
4, 470 62
329,727 52 2,766, 587,829 03
$4, 066 00
o
QQ
115
TREASURER OF THE UNITED STATES.
W o . X^.—UNITED STA.TES CUBBENCY of each issue OUTSTANDING at the
close of each fiscal year from 1862 to 1886.
Fiscal,
year—
Old Demand United States
notes.
notes.
One and two
year notes.
Compound
interest
notes.
Fractional
currency.
Total.
1862
$51,105,235 00 $96,620,000 00
$20,192, 456 00
1863
3,384,000 00 387, 646,589 00
1864
789,037 50 447,300, 203 10 $172,620,550 00 $6, 060, 000 00 22,324, 283 10
50, 625,170 00 191,721,470 00 25, 033,128 76
472,603 50 431,066,427 99
1865......
8,439, 640 50 172,369, 941 00 27, 008, 875 36
272,162 75 400,780, 305 85
1866
1,325, 889 50 134,774,981 00 28, 474, 623 02
208,432 50 371,783, 597 00
1867
356,
000,000
00
716,212 00 54, 608, 230 00 32, 727, 908 47
143,
912
00
1868
347, 772 00
3, 063,410 00 32,114, 637 36
123,739 25 356, 000, 000 00
1869
356,
000,
O
D
O
00
253, 952 00
2,191,670 00 39, 878, 684 48
106, 256 00
1870
205, 992 00
814, 280 00 40, 582, 87..."6
96, 505 50 356, 000, 000 00
1871
178,
222
00
623,010 00 40, 855, 835 27
88,296 25 357, 500, 000 00
1872......
148,155 00
499, 780 00 44, 799, 365 44
79,967 50 356, 000, 000 00
1873.
429,
080 00 4.5, 912, 003 34
130, 805 00
76,732 60 381,999, 073 00
1874
114,175 00
371, 470 00 42,129, 424 19
70,107 50 375,771, 580 00
1875
105,405 00
331, 260 00 34,446, 595 39
66,917 50 369,772,284 00
1870
96, 285 00
300, 260 00 20, 403,137 34
63, 962 60 359, 764, 332 00
1877.
90,475 00
274,^80 00 16, 547, 768 77
62, 297 60 346,681,016 00
1878
86, 845 00
260, 650 00 15,842, 610 11
61,470 00 346,681,016 00
1879.
82, 815 00
243, 310 00 15, 590, 892 70
60, 975 00 346, 681,016 00
1880......
80, 715 00
235, 280 00 15,481,891 65
60, 535 00 846,681,016 00
1881
77,125 00
223, 560 00 15,423,186 10
1882
59, 695 00 346,681, 016 00
71, 915 00
214, 770 00 1.5, 376, 629 14
1883.:....
58, 985 00 346,681,016 00
71,335 00
211, 790 00 15, 355, 999 64
58,440 00 346, 681,016 00
1884
346,681,016
00
68,
585
00
204,970 00 15, 340,114 21
57,
950
00
1885
66,755 00
199,680 00 15, 330, 025 85
57,445 00 346,681,016 00
1886
$147,725, 235 00
411,223, 045 00
649, 094, 073 70
698,918,800 2.")
608,870,825 46
536, .567, 523 02
444,196, 262 47
391,649,558 01
398, 430, 562 48
397, 69,9, 652 06
399, 245, 303 52
401, 527, 267 94
428, 54;7, 693 84
418,456, 756 69
404,722,461 89
380,627,976-84
363, 656, 337 27
362,932,591 11
362, 659, 008 70
362, 539, 437 65
362, 464, 582 10
362,403, 315 14
362, 378, 580 64
362, 352, 635 21
362, 334, 901 85
NOTE.—The difference between this and other statements of the Treasurer's reports and the public
debt statements, in the amounts of one and two year notes and compound interest notes outstanding
is due to the fact that the Treasurer's statements are compiled from the reports of destructions, while
the debt statement" are made up from the reports of redemptions, and the method of settling the accounts of these ijufcerest-bearing notes does not permit their destruction until some tirae after the
redemption. The following will explain the difierences on Jiine 30,1886:
One and two Compound in
year notes. terest notes.
On hand undestroyed at beginning ofthe flscal year
Eedemptions during the fiscal year . . . = . . . .
Total
Destroyed during the fiscal year :
Account of redemptions during the fiscal year..
Account of redemptions duriugfiscal year 1885 .
On hand undestroyed July 1, 1886.-.
Total
$560
1,490
$2,140
5,560
2,050
7, 700
1, 270
560
220
3,170
2,140
2,390
2,060
7,700
N o . X ^ . — U N I T E D S T A T E S C U B B E N C Y of E A C H I S S U E a n d D E N O M I N A T I O N
I S S U E D , B E D E E M E D , a n d O U T S T A N D I N G a t the close of t l ^ f i s c a l year 1886.
OLD DEMAND NOTES.
[Issue began August 26, 1861, and ended Maroh 6, 1862.1
Denomination.
53
lOs
208
Eedeemed
Eedeemed to
T o t a l i s s u e d . J u n e 30,1885. d u r i n g flscal E e d e e m e d t o O u t s t a n d i n g
J u n e 30,1886. J u n e 30,1886.
year.
$21,800,000 00 $21,776,885 00
20,030,000 00 20,008,805 00
18,200,000 00 18,186,360 00
Total
60,030.000 00
59,972,050 00
$145 00 $21,777,030 00
200 00 20,009,005 00
160 00 18,186,520 00
505 00
59,972,555 00
Percentage
outstanding to
amount
issued.
$22,970 00
20,995 00
13,480 00
0.1
0.1
0.1
57,445 00
0 1
116
R E P O R T ON T H E FINANOES.
W o . I S . — U N I T E D STATES CUBBENCY of E A C H ISSUE and DENOMINATION
I S S U E D B E D E E M E D , and OUTSTANDING at the close of the fiscal year 1886—
Continued.
''
, ^
U N I T E D STATES NOTES, N E W ISSUE.
[ I s s u e b e g a n A p r i l 2,1862, a u d c e a s e d A p r i l 19,1869.]
Percentage
outEedeemed
Eedeemed to Outstanding
Eedeemed to
T o t a l i s s u e d . J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. s t a n d year;
ing to
amount
issued.
Denomination.
Is
2s
5s
lOs
20s
50s
100s
500s
1,000s
$28,351,348 00
34,071,128 00
101,0,00.000 00
118,010,000 00
102,920,000 00
30,055,200 00
40,000,000 00
58,986,000(0
155,928,000 00
$27,560,430
33.458,703
1.00;270,n3
114,105,731
100,421,869
29,704,985
39,472,290
58,627,000
155,459,500
135,000
15
80
75
00
00
00
00
00
00
00
$3,875
6,421
76,370
153,585
178,244
30,900
73,800
98,500
232,000
70
00
50
00
00
00
00
00
00
$27,564,305 85 .
33,465,124 80
.I00,346i48415
114,259,31610
100,600,113(0
29,735,885 00
89,540,090 00
58.725,500 00
155,691,500 00
135,000 00
$787,042 15
606,003 20
653,515 75
3,750,684 00
2,3)^9,887 00
319,315 00
453,910 00
260,500 00
236, .500 00
2.8
1.8
0.6
3.2
2.3
1.1
1.1
0.4
0.2
9,387,357 10
D e d u c t for u n k n o w n
d e n o m i n a t i o n s destroyed in Chicago
fire
135,000 00
669,321,676 00 659,215,622 70
Total
853,696 20 660,069,318 90
9,252,357 10
1.4
, U N I T E D S T A T E S N O T E S . I S S U E O F 1869.
[ I s s u e b e g a n O c t o b e r 9, 1869, a n d c e a s e d J u l y 25, 1874.]
Eedeemed
e d e e m e d t o d u r i n g fiscal E e d e e m e d t o O u t s t a n d i n g
Total issued. E
J u n e 30,1886. J u n e 30,1886.
J u n e 30,1885.
year.
Denoraination.
$42,456,812
50,511,920
50,581,760
85,221,240
73,162,400
30,200,000
37,104,000
44,890,000
79,700,000
Is.
28.
10s
20s
50s
100s.'....
500s
1,000s
•Unknown.
00 $41,990,636 25
00 50,040,808 60
00 48,570,118 75
00 76,741,374 00
00 63,495,404 00
00 28,440,020 00
00 33,242.650 00
00 44,574,500 00
00 77,105,000 00
865,000 00
$21,602 80 $42,012,239 05
29,883 80 50,070,692 40
430,080 50 49,000,199 25
1,874,865 00 78,(;i6,239 00
1,868,918 00 65,364,322 00
287.440 00 28,727,460 00
656,600 00 33,899,250 00
37,500 00 44,612,000 00
612,000 00 77,717,000 00
865,000 00
$444,572 95
441,227 60
1,581,560 75
6,605,001 00
7,798,078 00
1,472,540 00
3,204,750 00
278,000 00
lj983,000 00
23,808,730 30
D e d u c t for u n k n o w n
d e n o m i n a t i o n s destroyed in Chicago
fire
865,000 00
493,828,132 00 465,065,511 60
Total.
5,818,890 10 470,884,401 70
22,943,730 30
U N I T E D S T A T E S N O T E S , I S S U E O F 1874.
[ I s s u e b e g a n J u l y 13, 1874. a n d cease^d S e p t e m b e r 13, 1875.]
Percentage
.
E
e
d
e
e
m
e
d
outEedeemed to
Total issued.
d u r i n g fiscal E e d e e m e d t o O u t s t a n d i n g s t a n d J u n e 30,1885.
J u n e 30,1886. J u n e 30,1886.
year.
ing to
amount
issued.
Denomination.
l8
2s
508
500s
$18,988,000
16,520,000
24,460,000
28,000,000
Total
.
...
00 $18,802,379 10
00 16,365,407 00
00 19,166,785 00
00 26,221,500 00
87,968,000 00
80,556,071 10
$14,392
16,896
783,045
614,000
00 $18,816,77110
80 16,382,303 80
00 19,g49;«30 00
00 26,835,500 00
1,428,333 SO
81,984,404 90
$171,228
137,696
4,510,170
1,164,500
90
20
00
00
0.9
0.8
18.4
4 2
5,983,59510
6.8
TREASURER
OF
THE
UNITED
117
STATES.
W o . t B . - ^ U N I T E D STATES CUBBENCY of E A C H I S S U E and DENOMINATION.
I S S U E D , B E D E E M E D , and OUTSTANDING at the close of thefiscal year 1886^
Continued.
U N I T E D STATES NOTES, ISSUE OF 1875.
[Issue began July 20, 1875, and ceased J u n e 20, 1879.]
Denomination.
Is
2s
5s
10s
20s....'
50s
100s
500s
:
Total
Percentage
outEedeemed
Eedeemed to Outstanding
Eedeemed to
T o t a l i s s u e d . J u n e 30,188.5. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. s t a n d i
n
g to
year.
amount
issued.
$26,212,000 00 $25,814,657 20
23,036,000 00 22,549,012 60
46,180,000 00 42,488,781 50
23,660,000 00 19,022,58100
25,000,000 00 18,211,126 00
1,377,430 00
2,000,000 00
16,200,000 00 10,788,350 00
, 28,400,000 00 25,350,000 00
$58,185 10 $25,872,842 30
107,043 20 22,656,055 80
1,132,875 00 43.621,656 50
1,276.261 00 20,2G8,842 00
],433i704 00 19,644.830 00
1,484,980 00
107,550 00
1,078,500 00 11,866,850 00
745,000 00 26,095,000 00
$339,157 70
379,944 20
2,558,343 50
3,861,158 00
5,355,170 00
515,020 00
4,333,150 00
2,305,000 00
1.3
1.7
5.5
14.2
21.4
25.8
26.7
8.1
190,688,000 00 165,601,938 30
5,939,118 30 171,541,056 60
19,146,943 40
10.0
U N I T E D STATES NOTES, ISSUE OF 1878.
[Issue began February 14,1878, and ceased May 12,1884.]
Denomination.
Is,
23
5s
10s
20s
50s . . :
lOOs
500s
1,000s
5,000s
10,000s
:
Total
Percentage
E
e
d
e
e
m
e
d
outEedeemed to
Eedeemed to Outstanding
Total issued.
d u r i n g fiscal
J u n e 30,1886. J u n e 30,1886. s t a n d J u n e 30,1885.
year.
ing to
amount
issued.
$12,512,000 00 $12,137,233 80
9,352,000 00
9,040,553 80
30,160,000 00 26,230,041 00
26,000,000 00 19,006,025 00
34,800,000 00 22,023,202 00
10,500,000 00
5,727,235 00
20,200,000 00
9,821,620 00
12,000,000 00
3,292,500 00
24,000,000 00 10,309,000 00
20,000,000 00 19,900,000 00
40,000,000 00 39,960,000 00
239,524,000 00 177,447,410 60
$12,230,174 30
9,133,145 80
27,561,225 00
20,978,117 00
24,807,672 00
6,469,280 00
12,535,010 00
6,075,000 00
14,944,000 00
19,940,000 00
39,990,000 00
$281,825 70
218,854 20
2,59^775 00
5,021 i 883 00
9,992,328 00
4,030,720 00
7,664,990 00
5,925,000 00
9,056,000 00
60,000 00
10,000 00
2 3
2.3
8.6
19.3
28.7
38.4
37.9
49.4
37.7
0.3
0.0
17,216,213 50 194,663,624 10
44,860,375 00
18.7
• $92,940 50
92,592 00
1,331,184 00
1,972,092 00
2,784,470 00
742,045 00
2,713,390 00
2,782,500 00
4,635,000 00
40.000 00
30,000 00
U N I T E D STATES NOTES, ISSUE OF 1880.
[Issne began March 16,1880, and still continues.]
Denomination.
Is
2s
5s
10s
20s.
50s
100s
500s
1,000s
Total
Percentage
Eedeemed
outEedeemed to
Eedeemed to Outstanding
Total issued.
J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. s t a n d year.
ing to
amount
issued.
$55,168,000 00 $32,430,761 70
48,000,000 00 24,741,493 00
113,300,000 00 26,344,900 00
61,840,000 00 11,356,143 00
33,440,000 00
2,924,290 00
13,600,000 00
938,850 00
17,900,000 00
482,300 00
2,750,000 00
3,500 00
29,500,000 00
38,000 00
$7,157,143 30 $39,587,905 00 $15,580,095 00
6,837,862 80 31,579,355 80 16,420,644 20
8,718,076 00 35,062,976 00 78,237,024 00
2,563,922 00 13,920,065 00 47,919,935 00
902,794 00
3,827,084 00 29,612,916 00
217,650 00
1,150.500 00 12,443,500 00
1,714,800 00
2.197;IOO 00 15,702,900 00
255,500 00
2,491,000 00
259,000 00
3,.376,000 00
3,414,000 00 ' 26,086,000 00
28 2
34 2
69 1
77 5
88 6
9L5
87 7
90 6
88 4
99,260,237 70
31,743,748 10 131,003,985 80 244,494,014 20
65 1
375,498,000 00
118
REPORT ON THE
FINANCES.
N o . I S . — U N I T E D STATES CUBBENCY of E A C H ISSUE and DENOMINATION
ISSUED, B E D E E M E D , and OUTSTANDING at the close of thefisoal year 1880^
Continued.
,
ONE YEAE NOTES OF 1863.
[Issue began February 4,1864, and ceased June 1, 1864.]
Denomination.
lOs.........
20s
50s
]00s
Unknown
Percentaige
outE
e
d
e
e
m
e
d
Eedeemed to
Eedeemed to Outstanding standTotal issued.
J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. i n g t o
year.
amount
issued.
$6,200,000
16,440,000
8,240,000
13,640,000
00
00
00
00
00
00
00
00
00
$140
740
250
500
00
00
00
00
$6,192,665
16,424,440
8,233,150
13,632,700
90
00
00
00
00
00
•
D e d u c t for u n k n o w n
d e n o m i n a t i o n s destroyed
Total
$6,192,525
16,423,700
8,232,900
13,632,200
90
.
$7,335
15,560
6,850
7, 300
00
00
00
00
0.1
0.1
0.1
0.1
37,045 00
90 00
44,520,000 00
,
44,481,415 00
1, 630 00
44,483,045 00
36,955 00
0.1
TWO YEAE NOTES OF 1863.
[Issue began March 16, 1864, and ceased May 30,1864.]
Denomination,
50s
100s
Total
Percentage
E
e
d
e
e
m
e
d
Eedeemed to
O u t s t a n d i n g ' outTotal issued.
d u r i n g fiscal E e d e e m e d t o
J u n e 30,1886. J u n e 30,1886. s t a n d J u n e 30,1885.
year.
ing to
amount
issued.
$6,800,000 00
9,680,000 00
$6,793,250 00
9,677,000 00
$150 00
$6,793,400 00
9,677,000 00
$6,600 00
3,000 00
0.1
0.0
16,480,000 00
16,470,250 00
150 00
16,470,400 00
9,600 00
0.1
TWO YEAE COUPON NOTES OF 1863.
[Issue began January 12,1864, and ceased April 20,1864.]
Denbminationo
50s
.
100s
500s
1 OOOs
U n k n o w n '.
Percentage
outE
e
d
e
e
m
e
d
Eedeemed to
med to Outstanding standT o t a l issued.
d u r i n g fiscal JEuend ee e30,1886.
J u n e 30,1886.
J u n e 30,1885.
year.
ing to
amount
issued.
$5,905,600
14,484,400
40,302,000
89,308,000
00
00
00
00
$5,903,550
14,476,200
40,300,500
89,289,000
10,500
00'
00
00
00
00
$50 00
$5,903,600
14,476,200
40,300,500
89,289,000
10,500
00
00
00
00
00
$2,000
8,200
1,500
19,000
00
00
00
00
0 0
0.1
0.0
0.0
30;700 00
D e d u c t for u n k n o w n
denominations d e stroyed
.*
Total
10,500 00
150,000,000 00 149,979,760 00
60 00 149,979,800 00
20,200 00
0.1
119
TEEASUREE OE THE UNITED STATES.
N o . IS.—UNITED STATES CUBBENCY of EACH ISSUE and DENOMINATION
ISSUED, BEDEEMED, and OUTSTANDING at the closeof thefiscalyear 1886—
Continued.
COMPOUND I N T E E E S T NOTES.
[Issue began J u n e 9, 1864, and ceased July 24, 1866.]
Denomination.
Eedeemed
Outstanding
T o t a l i s s u e d . E e d e e m e d t o d u r i n g fiscal E e d e e m e d t o
J u n e 30,1886. J u n e 30,1886.
J u n e 30,1885.
year.
Perl
centage
outstanding to
amount
issued.
$1,100 00 $23,258,180 CO
1,460 00 30,083,450 00
1,850 00 "60,750,750 CO
900 00 45,057,400 00
67.833,000 00
39,413,000 00
$27,020 00
42,390 00
73,250 00
37,000 00
13,000 00
7,000 00
0.1
0.1
0.1
0.1
0.0
0.0
5,310 00 266,395,780 00
199,660 00
0.1
lOs
i 208
,
608
• 1008
500s
1,000s..'
$23,285,200
30,125,840
60,824,000
45,094,400
67,846,000
39,420,000
j
266,595,440 00 266,390,470 00
Total
00 $23,257,080 00 '
00 30,081,990 00
00 60,748,900 00
00 45,056,500 00
00 67,833,000 00
00 39,413,000 00
FEACTIONAL CUEEENCY, F I E S T ISSUE.
[Issue began August 21, 1862, and ceased May 27,1863.]
j
Denomination.
6
10
25
50
cents
cents
cents .
cents
. . . . .
Total
Per.
centage
outEedeemed to Eedeemed
Eedeemed to Outstanding
T o t a l i s s u e d . J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. s t a n d ing to
year.
amount
issued.
$2,242,889 00
4,115,378 00
5,225,696 00
. 8,631,672 00
$1,214,625 70
2,871,514 60
4,186,670 53
7,661,48189
20,215,635 00
15,934,292 72
$18
20
18
29
35
11
95
70
87 11
$1,214,644
2,871,534
4,186,689
7,661,511
05
71
48
59
95
29
52
41
45.9
30.2
19.9
11.2
4,281,255 17
21.2
$1,028,244
1,243,813
1,039,006
970,160
16,934,379 83
FEACTIONAL CUEEENCY, SECOND ISSUE.
[Issue began October 10, 1863, and ceased February 23, 1867.]
Denomination.
5
10
25
50
cents
cents
cents
cents
Total
Per-'
centage
Eedeemed
outEedeemed to' Outstanding
Redeemed to
T o t a l i s s u e d . J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. s t a n d ing to
year.
amount
issued.
$2,794,82610
6,176,084 30
7,648,34125
6,645,232 00
$2,096,213
5,263,949
6,902,990
6,794,905
23,164,483 65
20,058,059 24
54
64
46
60
$35
25
19
27
85
85
75
65
109 10
$2,096,249
5,263,976
6,903,010
5,794,933
39
49
21
25
20,058,168 34
71
81
04
75
25.0
14.8
9.7
11.5
3,106,315 31
13i4
$698,576
912,108
745,331
750,298
FEACTIONAL CUEEENCY, T H I E D ISSUE.
[Issue began December 5,1864, and ceased April 16,1869.]
Denomination.
3
5
10
15
25
50
Percentage
E
e
d
e
e
m
e
d
outEedeemed to
E e d e e m e d to O u t s t a n d i n g
T o t a l i s s u e d . J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. standyear.
ing to
aiQOunt
issued.
$601,923 90
cents . . . . . . . . . . . .
657,002 75
cents .
.....
16,976,134 50
cents
1,352 40
cents
31,143,188 75
cents
36,785,420 50
cents
$511,632 28
524,564 16
15,924,567 50
75 46'
30,241,18515
35,928 826 30
285 12
462 45
42
29
14
46
27
75
$90,285 48
132,412 46
1,051,440 36
1,276 94
fi01,7J8 48
SUO, 137 75
14.9
20.1
6.2
94.4
2.9
2.2
86,115,028 80
83,130,850 "85
906 48 .83,131,757 33
2,983,271 47
3.5
Total
$614
26 13
126 64
$511,638
524,.590
15,924,694
75
30,241,470
35,929,288
120
REPORT ON THE FINANCES.
N o . 3.S.—UNITED STATES CUBBENCY of EACH ISSUE and DENOMINATION
' I S S U E D , BEDEEMED, and OUTSTANDING at the close of the fiscal year 188Q—
Continued.
FEACTIONAL CUEEENCY, FOUETH ISSUE.
[Issue began July 14,1869, and ceased February 16,1875.]
Percentage
outEedeemed to Eedeemed
Eedeemed to Outstanding
standTotal issued.
J u n e 30,1885. d u r i n g fiscal J u n e 30,1886. J u n e 30,1886. i n g t o
year.
amount
issued.
Denomination.
10 c e n t s
15 c e n t s
$34,940,960 00 $33,563,721 72
5,063,913 18
5.304,216 00
58;922,256 CO 57,892,023 81
77,399,600 00 76,322,125 00
32,000 00
.:
60 c e n t s . . . .
$547 04 $33,564,268 76
13314
5,064.046 32
1,19^)82 57.893,223 63
1,936 15 76,324,06115
32,000 00
D e d u c t for u n k n o w n
d e n o m i n a t i o n s destroyed in Cbicago
fire
24
68
37
85
3.9
4.5
1.7
1.4
3,721,432 14
32,000 00
176,567,032 00 172,873,783 71
Total
$1,376,691
240,169
1,029,032
1,075,538
3,816 15 172,877,699 86
2 1
3,689.432 14
FEA.CTIONAL CUEEENCY, F I F T H ISSUE.
[Issue began February 26,1874, and ceased February 15,'1876.]
Denomination.
10 c e n t s
25 c e n t s
50 c e n t s
.
Percentage
E
e
d
e
e
m
e
d
outEedeemed to
Eedeemed to Outstanding
T o t a l i s s u e d . J ' u n e 30,1885. d u r i n g fiscal
J u n e 30,1886. J u n e 30,1886. s t a n d year.
ing to
amount
issued.
$19,989,900 00 $19,497,224 06
. . . . 36,092,009 00 35,501,045 86
6,388,708 80
. . . . . . . 6,580,000 CO
Total
62,661,900 00
61,386;978 72
$1, 099 20 $19,498,323 26
2,399 62 35,503,445 48
1,670 70
6,390,379 50
5,. 169 52
61,392,148 24
$491, 576 74
588. 554 52
189,620 50
1,269, 751'76
'
2.5
1 6
2 9
^2.0
EECAPITULATION.
Issue.
Total issued.
$60,030, 000
Old d e m a n d n o t e s
2, 056,827, 808
United States notes
O n e a n d t w o y e a r n o t e s . . 211, 000, 000
C o m p o u n d i n t e r e s t n o t e s . 266, 595, 440
368,724, 079
Fractional currency
Total
L e s s deductions
F a c e v a l u e of
for m u t i Eedeemed to
notes redeemed lations
t o J u n e 30,
s i n c e M a y J u n e 3 0 , 1 8 8 6 , as O u t s t a n d i n g
1886 (see s t a t e - 11, 1875,' s h o w n b y c a s h J u n e 30,1886.
statement.
m e n t 11).
n o t covered into
Treasury.
$59, 972,557 50
00
$2 50
$59, 972, 555
00 1, 710,229, 078 00 82, 286 CO 1, 710,146,792
210, 933, 245 00
00
210, 933, 245
266, 395,780 00
CO
266,395, 780
353, 410,868 53 16,814 93
45
353, 394, 053
00 '
$57, 445
00 346, 681, 016
CO
66, 755
00
199, 660
60 15, 330, 025
CC
00
00
00
85
2, 963,177,327 45 2, 600, 941, 529 03 99,103 43 2,600,842,425 60 362,334, 901 85
N o . 1^.—COMPABATIVE STATEMENTof the I S S U E and B E D E M P T I O N of UNITED STATES NOTES for ihe last four fiscal years.
Small n o t e s r e d e e m e d .
SmaU notes issued.
Date.
20s.
5s.
July, 1883
August, 1883 , . .
September, 1883.
October, 1883 . . .
November, 1883.
Decembei', 1883 .
January, 1884. . .
'Febrnarv, 1884..
Marcb, 1884
April, 1884
May," 1884
Jiino, 1884
$1, 300, 000 $1, 240, 000
1,312,000 1, 096, 000
952, 000
1, 864, 000
776, 000
924, 000
920, 000
1, 236, 000
1,204, 000 1,160. 000
720, 000 1, 056, 000
288, 000
400, 000
95, 236
7,808,000 123,420,000
Total.
J u l y 1884
•August, 1884 . . . .
September, 1884.
October, 1884 . . .
Noveraber, 1884.
December, 1884 .
January, 1885 . .
February, 1885..
Marcb, 1885
April, 1885
May, 1885
June, 1885
Total .
$860, 000
1, 780,000
2, 060, 000
2,680, 000
1,300, 000
1, 880,000
1,480, 000
2,620, 000
2, 260, 000
1,600, COO
2, 580, 000
208, 000 2, 320, 000
272,000
040, 000
012,000
176, 000
008, 000
880, 000
823,153
024, 000
152, 000
120,000
408, 000
272, 000
$440, 000
680, 000
1,600,000
2,440, 000
1, 640, COO
1,160, 000
160, 000
440, 000
920, 000
1, 800, 000
880, 000
Total
issued.
Total
redeemed.
$80, 000 $3,920, 000 $4, 998,284 00
4,188, 000 4, 653,440 00
400, 000 5, 956, 000 4, 583,981 00
400, 000 0, 380, 000 5,180, 100 00
1, 280, 000 7,176, 000 5, 708,729 00
480, 000 6, 364, 000 5, 494,950 00
1,920, 000 6, 336, 000 7, 253,161 00
80, 000 3, 548, 000 6, 754,728 00
1, 040, 000 3, 740, 000 5,118,350 00
1,040,000 3, 560, 000 4, 979,959 00
1,440,000 5, 820; 000 6, 554,204 00
1,120, 000 4, 623, 236 5, 229,450 CO
Is.
$710, 691 00
672, 650 00
720, 474 00
821, 500 00
942, 738 00
930, 350 00
1, 298,415 CO
1,061, 049 00
807, 750 00
680, 054 00
689, 855 CO
683, 982 00
20s.
5s.
$604, 708 00
5i7, 500 00
122 CO
. 602,
677, 100 00
758, 320 00
792, 100 00
1,081, 386 00
904, 404 00
694, 600 CO
573, 600 00
601, 904 00
596, 758 CO
i$l,431, 965 00 $1,186, 500 00
1,334, 750 00 1,097, 540 00
1, 300,955 00 1,019, 250 CO
1,468, OOOOO 1,191, 500 00
1, 556,245 00 1, 29.5,260 00
1, 498,500 CO 1, 214,000 CO
2, 062,140 00 I, 542,820 00
1, 887,265 00 1,538, 010 00
1,434, 620 00 1,154, 620 00
1,476, 765 00 1,201, 540 00
1, 924,275 CO 1,704, 090 00
1,641, 690 00 1, 220,740 00
$1, 064,420 00
1,001, 000 00
941, 180 00
1,022, 000 00
1; 1.56,160 CO
1,060, 000 CO
I, 268,400 00
1, 364,000 00
1. 026,760 00
1,048, 000 00
1, 634,080 00
1, 086,280^00
.2,160, 000 9, 280, 000 |61, 611, 23G 66, 509,336 00 10, 019, 508 00 8,434, 508 00 19,017,170 00 15,365,870 00 13, 672,280. 00
832, 000 ! 2, 800, 000 2,160, 000 1, 700, 000 7, 824, 000
360, 000
480, 000 3, 880, 000
600, 000
1,400,000
240, 000 6, 204, 000
1,192, 000 2,120, 000 1, 640, 000
80, 000 6, 092, COO
2,
940,
COO
440,
000
1,456,000
960, 000 5, 724, 000
1,136, 000 1, 620, 000 1. 000, 000
800,
000 4, 040, 000
1,
240,
000
'
320,
000
800, OCO
960, 000 1,120,000 4,915,153
752, 000 17260, 000
1-,
140,
000
640,
000
880, 000 4, 492, 000
808, 000
480, 000 1, 040, 000 5, 040, OCO
1, 008, 000 1, 360, 000
600, 000
640, 000 4, 312, 000
992, 000
960, 000
840, 000
880, 000 4, 400, 000
272, OOO 2, 000, 000
200, 000
880, 000 2, 820,000
208, 000 1,260,000
5,413, 617
5, 316,750
5,157, 067
5, 966,094
6, 046,184
6, 282,390
7, 272,785
5, 018,179
6,iri6, 507
6. 402,968
4, 420,256
4, 432,150
CO
00
00
CO
00
00
00
00
00
00
00
00
772, 510 00
691, 012 00
756, 400 00
673, 600 GO
832, 155 00
717, 902 00
250
00
916, 634 00
1,035,
1, 000,898 CO
900, 136 00
336
00
' 974,385 00
1,129,
1, 382,967 00 1, 214,518^00
973, 185 00
861, 004 00
1, 220,1.52 00 1,058, no 00
077
00
1, 136,
999, 29G CO
150 00
716, 356 00
196 00
735, 804 00
1,493. 535 00
1, 509;2.30 00
1,411, 000 00
1,545, 080 CO
l,G'i9, 060 00
1,708, 175 00
2,141, 800 00
1, 591.000 00
1,714, 825 00
1,814, 105 00
1,125, 250 00
1,134, 030 00
1, 274,540 00
1,265, 500 00
1,111, 010 00.
1, 304,030 00
i,341, 290 00
1,290, 280 00
1,409, 500 00
I, 265,710 00
1,205, 040 00
1,336, 170 00
925, 500 00
060 00
1,182, 020 00
1,112, 000 00
1,085, CCO 00
1,165, 100 00
1,194, 800 00
1,122, 220 00
1,124, 000 00
927, 220 00
998, 380 00.
1,117, 320 00
845, 000 00
815, 060 00
10,187,153 10, 856, 000 19, 300, 000 9, 640, 000 9,760,000 59,743,153 63, 524,953 00 11, 895, 276 00 10,458,817 00 18, 855,110 00 14, 627, 630 00 12, 638,120 00
July, 1885
August, 1885 - . .
September, 1885.
October, 1885....
November, 1885.
December, 1885 .
January, 1886. .
February, 1886 . .
Marcb, 1886
April, 1886
May, 1886
June, 1886
Total.
1,180, 000
520, OGO
1,460, 000 1,160,000
3, 880. 000 2, 480, 000
4, 540, 000 4, 600, 000
5, 860,000
680, 000
1, 680, 000
360, 000
160, 000
1, 520, 000
300,000
s 900, COO
21, 320, 000
- 80,000
1,040,000
1,440,000
1, 360, 000
500,000
1, 680, 000
320, 000
1,780,000
3, 660, 000
7, 800, 000
10, 500, 000
7 460, 000
3, 300, 000
480, OCO
640, 000 .2,160,000
300, 000
900, 000
2, 2.39,150 CO
3,161, 550 00
3, 263,500 00
3,015, 100 50
2, 895,140 00
3,211, 819 50
4,218, 750 00
3, 787,550 00
3, 665,750 00
3, 693,210 CO
3, 933,310 00
4, 031,450 00
451, 023 CO
590, 694 90
647.617 00
559; 268 50
550,176 50
619, 262 50
777, 458 00
619,649 00
633,121 CO
652, 746 CO
625, 015 00
622,108 00
396, 412 CO
528, 951 60
607, 798 CO
526.772 00
524, 946 00
574. 489 00
772; 732 00
611, 450 00
647, 244 00
627, 451 00
629,892 00
642, 582 00
574, 035 CO
- 795, 945 50
827, 035 00
792, 510 00
783, 477 50
879, 852 CO
1,185, 980 00
1,101, 761 00
1, 078,835 00
1,110, 286 00
1,261,•709 00
1, 297,160 00
440, 600 00
644. 736 00
634, 030 00
576, 630 00
552, 520 00
611,712 00
788,-280 00
739, 690 CO
681,170 00
680,727 00
728,410 00
762, 220 CO
9, 960, 000 7,120, 000 38,400, 000 41,136, 280 00 7, 348,139 40 7, 090, 699 00 11, 683, 586 CO 7, 840, 725 00
397, 080 00
601, 222 00
547, 020 00
559, 920 00
484, 020 00
526, 504 00
694, 300 00
715, 000 CO
625, 380 CO
622, 000 00
688, 284 00
707, 400 00
7,168; 130 00
Ul
o
{^
Ul
>
Ul
to
W o . 14..—COMPABATIVE S T A T E M E N T o f the I S S U E and B E D E M P T I O N of UNITED STATES NOTES for the last four fiscal y e a r s - Cont'd.
'
Large notes issued.
Bate.
Total
issued.
Total
redeemed.
50s.
$2, 338,300
2,131, 200
225, 900
156, 700
138, 500
258, 900
2, 287, 50O
4, 540, 000
3, 042,000
2, 908, 000
4, 310, 000
2, 000, 000
$1, 260,300
1, 665,800
1,597,950
1, 358, 600
1, 565, 800
1,128,000
1, 370,400
1, 334, 200
1, 663,700
1,488,100
3, 576, 000
1, 432, 050
$400, 600
406, 200
630, 250
336,000
384,400
297, 400
366, 900
414, 200
378, 000
396,900
481, 600
484, 550
$422, 200 $164, 500 $268, 000
624, 600
348; 000
362, 000
619, 700
308, 000
195, 000
556,100
180, 600
259,000
448, 900
136, 500
671, 000
357, 600
337, 000
136,000
384, 000
418, 600
91,000
400, OO.Q. 215,000
286, 000
490, 700
405, 000
375, 000
502, 200
255,000
324, 000
681,400
182, 000 2, 231, 000
611, 000
134, 500
197, 000
$5,000
16, 000
26,000
16,000
15, 000
10, 000, 000
24,^337,000
19,438, 900 4, 877,000 5,898,400 3, 084, 600 5, 294,000
185,000
200, 000
200, 000 2, 447, 000
226, 000
600, 000
96, 200
400,000
509, 800
.800, 000
500, 000
200, 000
800, 000
428, 000
200, 000
600,000
260, 000
300, 000
600,000
300, 000
87, 000
200,000
260, 000
246, 000
200,000
400, OCO
200, 000
400, COO 1,100, 000
100,000
700,000
000, 000
200,000
000, 000
900, 000
1, 200, 000
2,400, 000
500, 000
200, 000
2, 747,000
226, 000
2,396, 200
1, 909, 800
3, 700, 000
3,428, 000
2, 060, 000
2,187, 000
3, 096,000
. 600,000
2,200, 000
4,800, 000 5, 600, 000 2,350,000
12,000,000
24,750, 000
50s.
J u l v 1883
A u g u s t 1883
.- .
S e p t e m b e r , 1883
O c t o b e r 1883
N o v e m b e r 1883
D e c e m b e r 1883
J a n u a r y 1884
F e b r u a r y , 1884. .
M a r c h , 1884
A p r i l 1884 - . .
M a y , 1884.
J u n e 1884
Total
J u l y , 1884
A u g u s t , 1884
S e p t e m b e r , 1884
O c i o b e r , 1884
N o v e m b e r , 1884
D e c e m b e r , 1884
J a n u a r y , 1885
.February, 1885
M a r c h , 1885.
A p r i l , 1885
M a y , 1885.
J u n e , 1885
Total.....
J u l y , 1885
A u g u s t , 1885
S e p t e m b e r , 1886
October, 1885
N o v e m b e r , 1885
D e c e r a b e r , 1885
J a n u a r y , 1886
F e b r u a r y , 1886
M a r c h , 1886'
A p r i l , 1886
M a y , 1886
J u n e , 1886
Total
Large notes redeemed.
$400, 000
400, 000
200, 000
400, 000
800, 000
1, 200, 000
800, COO
100s.
5008.
$438, 300 $900, 000
331, 200
225, 900
156, 700
138, 500
2.58,900
287, 500
340, 000 2,000, 000
142,000
108, 000
500,-000
1,610,000 1,^00,000
1, 200, 000
4, 200, 000 5, 237, 000 4, 900, 000
....
300, 000
$600, 000
1,400,000
1,800,000
2,200, 000
2, 500, 000
1,600,000
1,
1,
2,
2,
400, 000
10,000s.
700,000
_,
400,000
2, 000, 000 4, 700, 000
5,000s.
400,000
400,000
1,600, 000 3, 200,000
400,000
400.000
1,000s.
3,200,000
4, 600, 000
1, 800,000
4, 200, 000
3, 700,000
400, 000
4, 800, 000
4, 000, 000
4, 600, 000
2, 200, 000
4, 200,000
3, 700, 000
17, 600, 000
24, 600, OCO
100s.
905, 900
492, 900
537, 900
823, 500
758,100
637, 900
441, 200
403, 50O
464,700
404, 600
253, 300
220, 700
600s.
6,0003.
90, 000
10,000
6,000
10, 000
6,000
15, 968,200 4, 549, OCO 6, 344,200 2, 707, 000 2, 318, 000
30, 000
220, 850
498, 450
4, 536, 500
7,484, 900
4, 204, 350
908, 880
681, 250
692,450
933,650
667,300
666, 690
568, 650
626, eoo
393,350
346, 550
447, 200
465,700
425, 800
378, 750
350, 350
325, 950
342, 600
233, 500
212, 650
73,300
25, 000
26, 000
86,550
185, 000
81, 500
51, 000
175, 950
163, 700 1, 558, 500 2, 653, 000
161, 300
140,200 3,128, 700
140, 000 4, 076,000
l45,150 1, 044, 200 1,940,000' I, 070, 000
252,890
161,990
180, 000
269, 000
209, 900
216, 350
92, 000
63, 000
257, 000
238,450
99, 000
93, 000
268, 800
203,250
118, 500
343,000
238,600
221,200
131, 500
76, 000
215, 200
217,990
77, 500
66,.0C0
199, 800
200, 250
89, 500
79, 000
21,863,720 2,168,630 6,237, 090 4, 533, 000 8, 855, 000
10,000s.
$10,000
20,000
10, ooo
10, 000
20, 000
10, 000
10, 000
10, 000
6, 000
503,000
197, 000
193, 000
495, 000
170, 000
204, 000
118, 000
102,000
108, 000
122,000
33, 000
73, 000
2, 613, 500
1,310, 250
1, 272, 950
2,518,200
1, 600, 800
1,446, 700
1, 067,450
933.850
1, 031,150
1, 002,200
583, 300
687,850
568, 000
222, 000
195, 500
742,500
192, 000
179, 000
129,500
78,000
132, 500
133, 000
53, 500
81, 500
1,000s.
10,000
5, 000
to
to
100, 000
O
H
O
1-3;
10,000
HH
10, 000
• 5, m
6,000
25, 000
20, 000
10, 000
20,000
6,000
40,000
30,000
123
TREASUREIi OF. THE UNITED STATES,
N o . £ 5 . ISSUES and BEDEMPTIONS of UNITED STATES NOTES hy denominations and hyfiscalyears.
Denomination.
Issued.
Increase in
circulation.
Eedeemed.
Decrease in
circulation.
1862.
One
dollar
.......O..OB......
T w o dollars
F i v e dollars
Ton dollars
T w e n t v dollars
'.
Fifty dollars
One h u n d r e d doll a r s
.
F i v e hundred dollars
One thousand dollars
-.-•
....-•.
i
-
Total
$17,140,000
15,440,000
15,040,000
13,000,000
13,000, 000
13,000, 000
12,000, 000
$2,000, 000 00
98, 620, 000
2,000, 000 CO
16, 000, 000
17,000, 000
62,860, 000
74, 560, 000
59, 960,000
10, 080, 000
17,800,000
13, 500,000
19,600, 000
13, 032
5,044
59,735
46,140
62,160
44, 000
1, 300
1, 000
1, 000
$17,140,000
15,440,000
15,040,.000
13,000,000
13,000,000
13,000, 000
10, 000, 000
00
00
00
00
00
00
00
96, 620, 000 00
1863.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d dollars
Total
291, 260, 000
I
15, 986, 968
16,994,956
62, 800, 265
74, 613,860
59, 897,840
10, 036,000
17,798,700
13,499, 000
19,499,000
CO
00
00
00
00
00
00
00
CO
233,411 00
00
00
00
00
00
00
00
00
00
291, 026, 589 00
1864.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
..
One h u n d r e d dollars
F i v e hundred dollars
One thousand dollars
...
.
.
Total
946, 000
766,000
15,700,000
18,880, 000
11,919, 680
6, 975, 200
3, 644,000
7,414, 000
17, 904, 000
96,759
62, 648
175, 290
156,233
231, 622
90, 622
181,400
8,467, 500
10, 304, 000
84,048,880
19, 766, 075 90
35
05
50
50
00
50
00
00
00 •
849,240
703,351
15, 524,709
18,723, 766
11, 688,058
6,884, 577
3,362, 600
65
95
50
50
00
50
00
$1,053, 600 00
7, 600, 000 00
65, 336, 304 10
1,053,600 00
1865.
One dollar
Two dollars......."....'.
F i v e dollars
T e n dollars
t...
T w e n t v dollars
Fifty dollars
One h u n d r e d d o l l a r s
F i v e h u n d r e d dollars .One t h o u s a n d d o l l a r s
'
Total
O n e dollar
1,186, 000
2.130, 000
963,820
1,125,040
'.....
.
.
1866.
...
714, 000
664, oeo
F i v e dollars
T e n dollars
TWentv dollars
Fiftv dollars
.
...
OnG btLndred doURrs «».»••
F i v e h u n d r e d dollars .One thousand dollars .Total
11.000,000
' 22,000,000
=
34,378,000
1867.
One dollar . . . . . . . . . . . . . . . . . . . . . . .
T w o dollars
F i v e dollars
<>........
Ten dollars
...... . . . .
«
T w e n t y dollars .
.............. .....
Fiftydollars
O n e h u n d r e d d o l l a r s - . . « = • • . . . = .« . . .
F i v e h u n d r e d dollars
no....
One t h o u s a n d d o l l a r s
..<>..«...
Total
5,404,860
,
1, 500,000
2,000,000
10
2,040, 000
56,412,000
61,952,010
260,954
260, 574
394,275
311,263
526, 033
190,947
333,140
632,475
1, 344,000
40
20
50
00
00
50
00
00
00
4, 253, 662 60
1, 266,495
1, 421, 898
588, 593
473, 548
969, 532
406,892
552,675
387,425
672, 800
925,045
1,869,425
569, 544
813,777
60
80
50
00
526 033
190 947
333,140
632,475
1, 344, 000
4,177,792 90
15
50
50
00
00
50
00
00
00
10,612, 575 00
21, 327,200 00
6, 739, 859 65
31,939,775 00
3,220,683
3, 691,717
29,837,653
21,359,294
7, 218, 210
438, 875
573, 050
363.325
60, 559, 900
3 026 595 50
552 495
757, 898
588, 593
473,548
969, 532
406,892
552, 675
25
10
75
76
00
00
00
00
00
i, 676, 675 6b
5,. 852,100 00
117, 262,708 85
7, 528, 775 00
00
50
00
00
CO
15
50
50
00
00
50
00
4, 301,634 65
1,720,683
1,691,717
29,837,653
21,359,284
7, 218, 210
438,875
573,050
25
10
75
75
00
00
00
62, 839, 473 85'
124
REPORT ON THE FINANCES.
N o . 15.—ISSUES and BEDEMPTIONS of UNITEDSTATES NOTES hy denominations and hy fiscal years—Continued.
Denomination.
1868.
One dollar
T w o dollars
. .
F i v e dollars
T e n dollars
T w e n t y dollars
Fifty dollars
One'hundred dollars
F i v e hundred dollars
One t h o u s a n d d o l l a r s
Issued.
.
$2,483,348
3, 510, 696
. . . .
2, 032,000
8,112, 000
Total
1869.
O n e dollar
Tsvo d o l l a r s
F i v e dollars
T e n dollars
T w e n t y dollars
F i f t y dollars
One h u n d r e d dollars
F i v e h u n d r e d dollars
One t h o u s a n d d o l l a r s
i.
. .
Total
I n c r e a s e iri
circulation.
Eedeemed.
$4, 297, 683
4, 667, 751
2,210,801
3, 506,372
2, 391, 665
841,932
974, 975
1,504,975
5,459, OCO
25
70
25
50
00
50
00
00 '*""$527,*625'o6'
00
2, 653, 000 00
16,138, 044
25, 855,156 20
3,180, 025 00
5,
8,
4,
8,
16,
592, 971 60
2, 712,666 10
522, 000
000,432
336,180
004, 960
000,320
Decrease in
circulation.
40
90
50
00
CO
00
00
00
00
1,171,072 00
10,184, 091 00
5, 656, 000
10, 000, 000
20, 000, 000^
4, 929, 028
5, 287, 765
6, 641, 495
6, 833, 888
5, 816, 229
7, 211, 355
6, 010,285
7, 548,475
,J, 669,000
77, 519, 892
57, 947, 521 80
29, 443, 325 70
8, 220,000
14, 032, 000
19, 580, 000
37, 920, 000
23,760, 000
20,600,000
28, 600,000
4,422,884
6,209,611
10,053,996
19,001,072
21,605,403
9,223, 617
11,411,460
.16,433,475
37.812,000
3,797,115
8,822, 388
9,626,003
18,918,927
2,154,597
11. 376,382
17,188,540
$1, 814,335
1,157, 055
2,210,801
3, 506, 372
2, 391, 665
841,932
974, 975
25
70
25
50
00
50
00
12, 897,137 20
2,305,315 60
7,211,355 00
354,285 00
2,451, 525 00
12, 331, 000 00
9,870 955 50
1870.
One dollar ;
T w o dollars
Fivedollars
*.
T e n dollars
T w e n t y dollars
Fifty dollars
.^One h u n d r e d d o l l a r s
F i v e hundred dollars
One t h o u s a n d d o l l a r s
.
. . .
Total
152, 712, 000
45
30
25
50
00
50
00
CO
CO
135,173, 520 00
56
70
75
60
00
50
00
16,433,475 00
37, 812, 000 00
71,783, 955 00
54,245,476 00
1871.
One dollar
T w o dollars
F i v e dollars
T e n dollars
" T w e n t y dollars
Fiftydollars
One h u n d r e d d o l l a r s
F i v e hundred dollars
One thousand dollars
F i v e thousand dollars
Ten thousand dollars
Total
'
I.
•
.'
.-
17, 480. 000
16, 992,000
12, 560.000
29, 400, 000
26.680,000
9, 600, 000
120, 000
34, 800, 000
54, 800, poo
202,432, 000
5,
'6,
14,
16,
16,
5,
8,
16,
31,
002,
821,
016,
997,
607,
089,
915,
069,
067,
208
860
532
841
793
320
880
875
000
45
80
25
50
00
00
00
00
00
12, 477,791 55
10,170,139 ^ 0
120, 588, 311 00
92, 096,101 25
1,456, 532 25
12,402,158 50
10, 072,207 00
4, 510,680 00
8,795,880 00
18, 730,125 00
23, 733,000 00
1872.
O n e dollar
Two dollars.* F i v e dollars
T e n dollars
T w e n t y dollars
F i f t y dollars . : .
One h u n d r e d d o l l a r s
F i v e h u n d r e d dollars
• One t h o u s a n d dollars
F i v e t h o u s a n d dollars
Ten thousand dollars
Total
6,284, 000
8, 216,000
4, 560, 000
5,160,000
3, 080, 000
27, 300, 000
5, 724, 516
7, 566, 791
11, 658, 604
13, 584, 505
13, 264, 976
2,700, 294
4, 722, 665
4,409,450
4,468,000
60
90
00
50
50
50
00
00
00
559,483 40
649, 208 10
68,099, iB04 00
1,208,691 60
10,252,412 25
,
7,098,604
8, 424,505
10,184, 976
2,700,294
4,722, 665
4,409,450
4,468,000
00
50
50
50
00
00
00
42,008,495 60
125
TREASURER OF THE UNITED STATES.
N o . 1 5 . — I S S U E S and B E D E M P T I O N S of UNITED STATES NOTES hy denominations and hy fiscal years—Continned.
Increase in
circulation.
Decrease in
circulation.
Issued.
Eedeemed.
'.
$4,328,000
3,608, 000
5, 240,000
1, 000, 000
7, 360, 000
$6, 517, 793 20
7, 712, 608 55
9, 903, 055 00
12, 367,770 75
10, 732, 676 50
1, 755,468 00
2, 692, 370 00
5, 529, 025 00
6,808, 300 CO
$2,189,793 20
4,104, 608 55'
4, 663, 055 CO
11,367,770 75
3, 372, 676 50
1,755, 468 CO
2 692 370 00
5, 529, 025 00
6, 808, 300 00
Total
TJnhnown denominations destroyed in
the great fire at Chicago
21, 536, 000
64, 019, 067 00
42, 483, 067 00
Denomination.
One dollar
Two dollara
1873.
. .
.... ...
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars
Five hundred dollars
..
-
Five thousand dollars
Ten thousand dollars
Total
1, 000, 000 00 -
•.
65, 019, 067 00
1874.
One dollar
Two dollars
Five dollars
-.
Ten dollars
Twenty dollars
Fifty doUars
One hundred dollars
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
Total
1875.
One dollar
Two dollars
I
Fivedollars
Ten dollars
Twenty dollars
Fifty dollars.
One hundred dollars
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
, 8, 384, 000
10, 090, 000
20,100, 000
8, 571, 888 50
9, 534, 938 CO
8, 452, 272 50 ""$183," 487'50"
12,273,3^5 00
8,887,230 00
3, 371,170 00
2, 030,775 CO
2, 695,400 00
5, 688, 600 00
34,118,000 00
7, 840, 000 00 12, 260, 000 00
84, 974, 532
94,403, 889 00
21,503,257 50
14, 626,156
10,934, 400
6, 926, 000
13, 560, OCO
10,160,000
8, 960, 700
3, 290, 000
27, 950, 000
7, 500,000
13, 690, 631 50
16,923, 516 00
19, 657,201 50
36, 689, 380 00
30, 522, 828 00
7, 931, 850 00
10,111,500 00
5, 663, 000 00
27, 879, 000 00
935,524 50
103, 907, 256
169,068, 907 00
6,143,*612
7, 657, 520
8, 63.5, 760
11, 705, 240
12, 258,400
^
.
Total
1876.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
One hundred dollars ...'
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
Total..
2 428 276 50
1,877,418 00
568,145. 00
2, 030, 775 00
24, 028, 000 00
30, 932,614 50
5, 989,116 00
12,731,201 60
23,129,380 00
20,362, 828 00
1, 028, 850 00
6,821, 500 00
22,287, 000 do
20,379,000 00
24.251, 374 50
13,444, 758
12,792,000
13,120, 000
11,156,000
12,184,000
10,151, 000
5, 680,000
12,450,000
200, 000
12, 855.120 60
589,637 40
11, 655,842 40
1,136,157 60
11, 654,081 00
1,465,919 CO
14, 905, 686 00
13,187, 379 00
5, 922,185 00 "'4,"228,'8i5"6b'
9, 676,760 00
9, 379, 500 00
3, 070, 500 00
7, 940, 500 00
91, .177,758
97,177, 054 00
89,413, 025 50
3, 749,686 00
1,003,379 00
3, 996,760 00
7,740,500 00
'
10.491, 029 00
16,490, 325 00
1877.
One dollar
:
Two dollars
Five dollars
Ten dollars
; '.
Twenty dollars
Fiftv dollars
One hundred dollars
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
Total
10,147,399
12,994, 606 10
9,432,000
11, 542, 653 40
14,180, 000 11,159. 948 50
7,320,000 12,229,152 00
8,160,000
11,931,466 00
5,983,300
5, .559,155 00 i
6,985, 200 1 4, 796, 870 00
5,733, 000
5, 617, 000 00
4, 500, 000
6, 618, 000 00
>...
0
72,440, 899
82,448,851 00 1
4,909,152 00
3,771,466 00
424,145 00
2,188, 330 00
116, 000 00
2,118, 000 00
•
1
2,847,207 10
2, lie, 653 40
3,020, 051 50
i
1
5 748 526 50 1 1 '^ ^' •"^fi A7» ^n
- - ^ - ^ • - ^ - 7 -
126
REPORT ON THE FINANCES.
N o . 1-5.—ISSUES and BEDEMPTIONS of U N I T E D S T A T E S NOTES hy denoniinations a7id hy fiscal years—Continued.
Denomination.
1878.
' One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
One'hundred dollars...
Five hundred dollars . One thousand dollars ..
Five thousand dollars .
Ten thousand dollars..
Total.
Issued.
Eedeemed.
$7,562.351 $11, 792,775 0
6, 288, 000 10, 746, 878 00
15, 820, 000 16,111,867 00
11,380, 000 13, 703, 063 00
9, 200,000
9, 086, 554 CO
3, 200, 000
6, 267, 030 00
6,408, 600
4,194,100. CO
4,817, 000
4,424, 000 00
2, 600, 000
3,'973, 000 00
Increase iri
circulation.
Decrease in
circulation.
$4, 230, 424 00
4, 458, 878 00
291,867 00
2, 383, 063 00
$113, 446 00
3, 067, 030 00
2,214,500 00
393, 000 00
*i,'373,'OOO'.CO
2,720,946 00
67,275, 951
80, 359,267 00
6, 503,133
5, 892, 000
11, 060, 000
9,280, 000
7,400, 000
2,400,000
5, 007, TOO
5, 650, 000
3, 900, 000
4,005,000
3, 010, 000
9, 223, 026 50
8,710,295 00
11,622,443 60
10,193, 082 00
9,649, 756 00
4, 059, 340 00
4, 593, 890 00
3, 959, 000 00
2, 042, 000 00
5, 000 00
^ 0 , 000 00
413, 810 00
1, 691, 000 00
1, 858, 000 00
4, 000, 000 00
2, 980, 000 00
64,107,833
64,107.833 00
10,922,810 00
9, 057, 863
8, 232, 000
19,680,000
16, 520, 000
17, 360,000
1,400, 000
3, 052, 700
2, 300, 000
700, 000
1, 000, 000
2, 000, 000
6, 935,511
5, 971,840
8,354, 565
6, 241,811
5, 687,680
2,114,345
2, 293,310
15, 645,500
19, '238,000
4, 320,000
4, 500,000
80
20
00
00
00
00
00
00
00
00
00
2,122,351 20
2, 260,159 80
11, 325,435 00
10,278,189 00
11, 672,320 00
81, 302, 563
81, 302, 563 00
38,417,845 00
• 9,889,034
8. 752, 000
14, 760, 000
9,160, 000
6, 240, 000
. 1.200,«000
2, 944, 300
• 700,000
900, 000
7, 575,604 40
6, 860,690 60
10, 623,470 00
7, 086,364 00
6, 111,eiO 00
2, 306,085 00
2, 794,510 00
5,354, 000 00
5, 408,000 00
225,•000 00
200, opo 00
54, 545, 334
54, 545.334 00
10,693,085 00
8, 370,332 00
11,445, 524
«, 093,497 00
10, 472,000
14,280, 000 16, 506,538 00
6,680, 000 10, 885,621 00
9, 294,126 00
6, 680, 000
3, 200, 000
2, 711,140 00
' 4, 527, 900 3, 006,170 00
1,750, 000
1, 444,000 00
1, 500, 000
1,189, 000 00
4,995,000
5, 030.000 00
14, 990 000 12, 990,000 00
3, 076,192 00
2, 378,503 00
79, 520,424 00
10, 081, 285 00
15,804, 262 00
1879.
One dollar
Two dollars
Five dollars
Ten doUars
Twenty doUars
Fifty dollars.
Onehundred dollars . . .
Five hundred dollars . .
One thousand dollars -.
Five thousand dollars .
Ten thousand doUars ..
Total
'..
1880.
OnedoUar
-.
Two doUars
FivedoUars
Ten dollars .Twenty dollars
Fifty doUars —
One hundred doUars...
Five hundred dollars ..
One thousand dollars ..
Five thousand doUars Ten thousand doUars ..
Total
188L
OnedoUar
•.
Two doUars
Five doUars
Ten dollars
Twenty doUars
FiftydoUars
One hundred doUars . . .
Five hundred dollars ..
One thousand dollars . .
Five thousand dollars .
Ten tbousaud dollars ..
Total .
1882.
OnedoUar — :
Two doUars...
Fivedollars
Ten doUars
Twenty doUars
FiftydoUars
One hundred dollars ...
Five hundred doUara ..
One thousand dollars -.
Five thousand dollars .
Ten thousand doUars..
Total
79,620,424
2,719, 893 50
2,818, 295 00
562,443 50
913,082 00
2, 249, 756 00
1, 659, 340 00
10,922, 810 00
714,345 00
759, 390 00
2, 313,429
1,891,309
4,136, 530
2,073, 636
128,390
13, 345, 500 00
18, 538, 000 00
3.320r000 00
2, 500.000 00
38,417, 845 00
60
40
00
00
00
1,106, 086 00
149,790 00
4, 654, 000 00
4, 508, 000 00
225, 000 00
200,000 00
10, 693, 085 00
2,226,538 00
4,205,621 00
3, 614,126 00
488,860 00
1,521,730 00
306, 000 00
311,000 00
35, 000 00
2,000,000 00
10,081,285 00
TREASURER OF, THE UNITED STATES.
127
N o . 1 5 . ISSUES and BEDEMPTIONS of UNITED STATES NOTES hy denominations and hy fiscal years—Contmued.
. Denomination.
1883.
OnedoUar
Two dollars
Five dollars
Ten doUars
Twienty doUars
Fifty dollars
One hundred doUars...
Five hundred dollars .
One thousand dollars .
Five thousand dollars.
Ten thousand doUars .
Total.
Eedeemed.
Increase in
circulation.
$9,970, 610
8.770, 231
19,052, 455
14,291, 880
12,210, 662
4,205, 875
4,523,600
2,127,500
2,407,000
10,105, 000
22,100, 000
80
20
00
00
00
00
00
00
00
00
00
$2,015,603 20
901,768 80
3, 807, 645 00
109,764, 714 109, 764,714 00
8, 940, 317 00
Issued.
$11, 986,114
9,672, 000
22,860, 000
14,240, 000
6,000, 000
3,900, 000
4,356,600
2,350,000
4,400, 000
10,000,000
20, 000,000
Decrease in
circulation.
$51, 880 00
6,210, 562 00
305, 875 00
167, 000 00
222,500 00
1,993, 000 00
105,000 00
2,100, 000 00
8, 940,317 00
1884
One dollar Two dollars
Five dollars
Ten dollars
Twenty dollars
Fiftydollars
One hundred doUars ...
Five hundred dollars ..
One thousand doUars..
Five thousand doUars .
Ten thousand dollars..
Total.
8,943,236
7,808,000
23,420, 000
12,160,000
9,280, 000
4,200, 000
5,237,000
4,900, 000
10,000, 000
10,019, 508 00
8,434, 508-00
19,017, 170 00
16,365, 870 00
13,672, 280 00
4,877, 000 00
5, 898,400 00
3,084. 500 00
6,294,000 00
185, 000 00
100, 000 00
85,948,236
85,948,236 00
10,187,153
10,856,000
19,300,000
9,640, 000
9,760,000
4,800. 000
6,600,000
2,350,000
12,000,000
11,895, 276
10,458, 817
18, 855,110
14,627, 630
12,688, 120
4,549,000
6,344,200
2,707, 000
2,318. 000
30, 000
20, 000
1, 076, 272 00
626, 508 CO
4,402,830 00
3, 205, 870 00
4, 392, 280 00
677, 000 00
661,400 00
1,815,600 00
4,706,000 00
185,000 00
100, 000 00
10,924,330 00
10, 924, 330 00
1885.
OnedoUar
Twodollars.Fivedollars
Ten doUars
Twenty doUars
FiftydoUars...
One hundred doUars....
Five hundred doUars ..
One thousand doUars . Five thousand doUars .
Ten thousand doUars . Total.
00
00
00
00
00
00
00
00
00
00
00
84,493,153
84,493,153 00
OnedoUar
Two doUars
FivedoUars.
Ten doUars !
Twenty debars
FiftydoUars
One'hundred dollars . . .
Five hundred doUars ..
One thousand doUars ..
Five thousand doUars .
Ten thousand doUars ..
21, 320, 000
9,960, 000
7,120, 000
2, 000, 000
4,700, 000
400,000
17,600,000
7, 348,139 00
7, 090,700 00
11, 688, 586 00
7, 840, 725 00
7,168,130 00
2,168, 630 00
6, 237,090 00
4, 533, 000 00
8,855, 000 00
40,000 00
30,000 00
TotaL„-.
63,000,000
63,000,000 00
1, 708,123 00
397,183 00
444,890 00
4,987,630 00
2,928,120 00
261,000 00
744, 200 00
357, 000 00
9,682,000 00
30, 000 CO
• 20, 000 CO
10,775,073 00
10, 775, 073 CO
1886.
7,348,139 00
7, 090, 700 00
9, 631,414 00
2,119, 275 00
48,130 00
168, 630 00
1, 537, 090 00
4,133, 000 00
8, 845,000 00
' 40, oo6"oo
. 30, 000 00 •
20,395,689 00
20,395,689 00 .
128
R E P O R T ON T H E FINANCES.
N o . l e , — S I L V E B CEBTIFICATES ISSUED, B E D E E M E D , and OUTSTANDING,
' hy S E B I E S and DENOMINATIONS.
Issued.
Eedeemed.
•
Outstanding
J u n e 30, 1886.
Series and denominations.
Duriugfiscal
year.
T o J u n e 30,
1886. ,
D u r i n g fiscal
year.
T o J a n e 30,
1886.
$2,274,000
2, 746, 000
' 3, 250, 000
3, 540, 000
4, 650,000
14, 490, 000
$135,695
203,614
155, 595
136, 500
221, 500
1,108, 000
$2, 057, 578
2, 268, 224
2, 576. 760
2,903,180
4, 507, 500
14, 256, 000
$216, 422
477,776
673, 240
636, 820
142, 500
234, 000
30, 950, 000
1, 960, 904
28, 569, 242
2, 380, 758
79, 560, 000
71, 240, 000
7, 800, 000
10, 600, COO
9, 000, 000
9, 000, 000
5,142, 045
7, 649,722
113, 600
131, 200
6, 853, 500
6, 673, 000
29, 507, 035
26,760.148
1, 088, 400
1, 626, 000
7, 307, 500
7,314,000
50, 052, 965
' 44,479, 852
6, 711, 600
8,974,000
1 692 500
1, 686, 000
4, 600,000
187, 200, 000
26, 563, 067
73, 603, 083
113,596,917
4, 600,000
218,150, 000
28, 523, 971
102,172, 325
*115, 977,675
Series of 1%7S.
lOs
^203
50s
lOOs
500s
l,000s
.
-
Total
Series of i m o .
10s . ...•
208
50s
100s
50C&
1 OOOs
$3, 800, 000
800, 000
• .
.
Total
AsTsrrefirate . .
....
* Including $27,861,450 in the Treasury cash.
N o . I'if.—GOLD CEBTIFICATES ISSUED, B E D E E M E D , and OUTSTANDING
hy S E B I E S and DENOMINATIONS.
Issued.
Eedeemed.
Series a n d denominations.
D u r i n g fisD u r i n g fisT o J a n e 30,1886.
c a l y e a r . T o J u n e 30,1886. cal y e a r .
TTnder a c t o i ' J u l y 12, 1882:
D e p a r t m e n t a l series.
20s
50s
100s
5008
'...
1,000s
5,000s
10 OOOs
Total
$640, 000
100, 000
100, 000
200, 000
1. 040, 000
N e w T o r k series.
20s
.50s
^ 100s
\
500s
1 OOOs
. ...
, 5 OOOs
10,000s
Aggregate
00
00
00
00
00
00
00
$201,818
28,650
91,700
168, 000
2, 008, 000
25, 000
220, 000
38, 220, 000 00
2, 743,168
12, 000, OOG 00
12, 000, 000 00
8, 000, 000 00
10, 000, 000 00
12,000,000 00
20,000,000 00
80, 000,000 00
805, 472
797,195
592, 200
' 782,000
1, 834, 000
630, 000
1, 870, 000
154,000, 000 00
7, 310, 867
1, 040, 000
192, 220,000 00
981,134, 880 46
10,054,035.
134, 860
^1,040,000
1,173,354,880 46
10,188, 895
Total
B o t h series
TJnder a c t M a r c h 3, 1863
( I s s u e ceased D e c e m b e r 1,
1878.)
$3,920,000
1,300, 000
4, 200, 000
7, 300, 000
14, 000, 000
2, 500, 000
5, 000, 000
'
$498, 018
140, 500
380,800
756, 500
2,791,000
25, 000
220, 000
00
00
00
00
00
00
00
$3,'421, 982
1,159, 500
3'819, 200
6, 543, 500
11, 209, 000
2, 475, 000
4,780,000
4,811,818 00
33,408,182
3,445, 512
3, 441, 545
2, 875, 300
3,173, ood
4, 931, 000
9, 045, 000
31, 750, 000
'
Outstanding J u n o
30,1886.
00
00
00
00
00
00
00
8,554,488
8, 553,455
5,124, 700
6,827, 000
7, 069, 000
10, 955, 000
48, 250, 000
58,661,357 00
95,338, 643
63, 473,175 00
978, 707, 460 46
128,746, 825
2,427,420
1,042,180,635 46 *131,174,245
* Including $55,129,870 in the Treasury cash?
129
TREASURER OF THE UNITED STATES.
N o . I S , — S E V E N - T H I B T Y NOTES ISSUED, B E D E E M E D , and OUTSTANDING.
Issue.
J u l y 17, 1861 . . .
A u g u s t 15, 1864
J u n e 15, 1865 . . .
J u l y 15, 1865 . . .
T o t a l issued.
Eedeemed
E e d e e m e d to
Eedeeraed to Outstanding
d u r i n g fiscal
J u n e 30.1885.
J u n e 30, 1886. J u n e 30,1886.
year.
$140,
299,
331,
199,
750
500
000
000
$140, 078, 900
299,939,900
330, 966, 550
198, 948, 850
$50
1,250
150
500
970, 087, 250
969, 934, 200
1,950
Total.-...
094,
992,
000,
000,
$140,
299,
330,
198,
078, 950
941,150
966, 700
949, 350
$15,800
51, 350
33. 300
50, 650
969, 936.150
151,100
N O T E . — T h e p u b l i c d e b t s t a t e m e n t s h o w s $130,300 7-30s of 1864 a n d 1865 o u t s t a n d i n g on J u n e 30,1886,
o r $5,000 l e s s t h a n t h e a m o u n t g i v e n i n t h e a b o v e t a b l e . T h e d i s c r e p a n c y a r o s e i n d e d u c t i n g $5,000
r e d e e m e d i n A u g u s t , 1868, w h i c h w a s s u s p e n d e d i n s e t t l e m e n t a n d a g a i n d e d u c t e d w h e n s u s p e n s i o n
was removed.
N o . 1 9 . - ' C 0 U P 0 N S from UNITED STATES BONDS and I N T E B E S T NOTES,
P A I D during the fiscal year 1886, classified hy LOANS.
T i t l e of l o a n .
Amount.
Bonds:
Oregon W a r D e b t
L o a n of J u l y a n d A u g u s t , 1861.
5-20sof 1862
L o a n o f 1863
10-40sof 1864
5-20S of J u n e , 1864
5-20sof 1865
C o n s o l s o f 1865
Consols of 1867
C o n s o l s o f 1868
F u n d e d L o a n of 1881
F u u d e d . L o a n of 1891
F u n d e d L o a n of 1907
,
Interest notes:
S e v e n - t h i r t i e s of 1864 a n d 1865..
$210 00
70 50
963 94
1, 375
333
33
768
759
30
168
2, 240, 991
5,311,652
00
00
00
00
CO
00
12
84
00
58 39
Total.
7, .557, 412 79
N o , 2(^.—NUMBEB and A M O U N T of CHECKS for I N T E B E S T on B E G I S T E B E D
BONDS of the UNITED STATES ISSUED during thefiscal year 1886.
T i t l e of l o a n .
F u n d e d loan of 1891
F u n d e d loan of 1907
L o a n of J u l y 12,1882
Number.
.
....
Total
B o n d s i s s u e d t o Pacific E a i l w a y s
. . .
. . . . . . .
...
Total
Amount.
47,846
172,108
13,304
$8, 983, 821 68
24 188 387 00
5* 449'068 52
233, 258
2,781
38, 621, 277 20
3,877,410 72
236, 039
42, 498, 687 92
NOo 2 1 . — I N T E B E S T on 3.65 P E B CENT. BONDS of the DISTBICT of COL UMBIA
" P A I D during thefiscal year 1886.
W h e r e paid.
T r e a s u r y TJnited S t a t e s , W a s h i n g t o n
S u b - T r e a s u r y , "BTnited S t a t e s , N e w Y o r k
Total...
H. Ex. 2-—9
Coupons.
Checks.
Total.
$27, 666 99
77, 774 20
$58,146 65
358, 302 25
$85 813 64
436, 076 45
105,441 19
416,448 90
521, 890 09
130
REPORT ON THE FINANCES,
N o . ^^.--BEFUNDING CEBTIFICATES issued under act of February 26, 1879,
CONVEBTED into BONDS of the FUNDED LOAN of 1907.
Converted.
Issued.
Payable to order
Payable to bearer
'.
Total
ToJune30, Durinj^ the To June 30,
fiscal year.
1886.
1885.
Outstanding.
$58,600
$57,780
39, 954, 250 39,714, 370
$300
$58,080
32, 500 39, 746, 870
$420
207,380
40,012,750
32, 800 39, 804, 950
207, 800
39,772,150
N o . 2S.—TOTAL amount of UNITED STATES BONDS BETIBED for the SINKING FUND from May, 1869, to June 30; 1886.
Title of loan.
From May,
1869, to*^
June 30,1885.
How retired.
Loan of February 1861
Purchased
$10, 612,000
Oregon War Debt
do
Eedeemed
256, 800
Total
256, 800
Loan of July and August, 1861. . Purchased
Eedeemed
48,776, 700
Total
. ..
Purchased
Eedeemed
5-208 of 1862
Total
Loan of 1863
Purchased
Eedeemed
10-408 of 1864
5-208 of March, 1864
Eedeemed
Purchased
5-20sof June, 1864
do
Eedeemed
Total
6-208 of 1865
Purchased
Eedeemed .
Total
Consols of 1865
Consols of 1867
\
,$100
256 800
100
100
256, 900
2,600
2,500
48, 779, 200
24,029,150
29,968,250
67, 500
24, 029,150
30,035.750
_ 53,997,400^.
67, 500
54, 064, 900
1,100
19,854, 250
1 100
1,100
19,855,350
14,250
690, 300
361, 600
676, 050
361, 600'
... .
$10,612,000
48,776,700
19,854,250
,
. . .
From May,
1869, to
June 30,1886.
48, 776, 700
2,500
19,854,250
Total
During fiscal year.
18,356.100
11,067,800
4,'300
18,356,100
11,072,100
29,423, 900
4,300
29, 428,200
16,866,150
1,974,150
300
16, 866,150
1,974,450
18,840,300
300
18,840,600
Purchased
Eedeemed
48,166,150'
31, 350
16,900
48,166,150
47,250
Total
48,197,600
15, 900
48,213,400
Purchased
Eedeemed
32,115,600
15, 750
26, 950
32,115,600
42, 700
Total
32,131,350
26, 95a
82,158, 300
Purchased
Eedeemed
2,213,800
8,600
i2,'256
2, 213, 800
20 8'')0
Total
2, 222,400
12, 250
2, 234, 650
43, 599,000
25,017, 900
49," 800'
43, 599,000
25, 067, 700
Total
68.616, 900.
49, 800
68, 666,700
Funded Loan of 1907
Purchased
Loan of July and August, 1861,
continued
Eedeemed
Loan of 1863, continued
do
do
Funded Loan of 1881, continued..
do
Loan of July 12. 1882 . . . i
1, 500, 000
Consols of 1868
'
Funded Loan of 1881
"
• ... .
Aggregate
Purchased...
Eedeemed
1, 500, 000
...
56, 496,100
37, 206, 550
43,472, 350
57, 836,150
96,750
4,100
190, 750
44, 044, 800
56, 592, 850
37, 210, 650
43, 663,100
101, 880, 950
Total purchased ..
Total redeemed
266,707, 300
263,771, 000
" "44,'53i,"356'
266,707,300
308,302,360
530,478,300
44,531, 350
576,009,650
131
TREASURER OP THE UNITED STATES.
No. 2^.—TOTAL amount of UNITED STATES BONDS BETIBED from May, 1869,
to June 30, 1886.
Eate
From May, During fiscal
How retired. of inter1869, to
year.
est. J u n e 30,1885.
Title of loan.
Purchased....
Eedeemed —
Loan of February, 1861
Per ct.
6
6
Total
Oresron War D e b t .
To June 30,
1886.
$10,612,000
7, 795, 000
$10,612,000
7, 795, 000
18,407,000
18,407 000
Purchased
Eedeemed —
Total
6
6
256, 80O
684,150
$100
940,950
100
941,050-
Loan of July and August, 1861 — Pnrchased
Eedeemed —
6
6
48. 776, 700
12, 791, 200
2,500
48, 776 700
12,793 700
61, 567, 900
2,500
61, 570,400
57,155, 850
430,188, 900
27,091,000
67, 500
57,155 850
430, 256, 400
27, 091, 000
614,435,750
67, 500
514, 503, 250
19, 854, 250
4, 655, 050
i,i66"
19, 854. 250
4,656,150
24, 509, 300
1,100
24, 510, 400
Total
5-208 of 1862
Purchased....
Eedeemed
Converted
Loanof 1863
. Purchased —
Eedeemed —
6
6
6
Total
6
6
Total
5-208 of March, 1864
Purchased —
Eedeemed
Converted —
5-20S of June, 1864.
Purchased
Eedeemed —
Converted —
6
6
6
1,119.800
2, 382; 200
380, 500
3, 882, 500
3,882, 500
6
6
6
43, 459, 750
69,834, 350
12, 218, 650
4,'300
43,459, 750
69, 838, 650
12 218 650
125, 512, 750
4, 300
125, 517, 050
36, 023, 350
157,680,150
9, 586, 600
300
36, 023,350
157, 680, 450
9, 586, 600
203, 290,100
300
203, 290,400
118, 950, 550
205,116, 550
8, 703, 600
i5,'96o
118,950,550
205,132,450
8, 703, 600
15, 900
332, 786, 600
26, 950
62, 846, 950
309, 755, 300
5, 807, 500
761,100
379,143, 900
26, 950
379,170, 850
4,794, 050
37,401, 850
211, 750
44, 900
12, 250
4,794, 050
37, 414,100
211 760
44,900
Total
Total
5-208 of 1865.
...
Purchased
Eedeemed
Converted —
6
6
6
Total
Consols of 1865
„
Purchased
Eedeemed
Converted
6
6
6
Total
Consols of 1867
Purchased
Eedeemed
Converted....
Exchanged . . .
Purchased
Eedeemed
Converted
Exchanged - . .
1,119, 800
2,382 200
380, 500
332,770,700
6
6
6
6
Total
Consols of. 1868
256 800
684, 250
6
6
6
6
Total
Total of 6 per cents
62, 846,950
309, 728, 350
5,807, 500
761, IOO
•
42,452, 550
12,250
42,464,800
1,706,913, 400
130,900
1,707, 044,300
Texan indemnity stock
Eedeemed
6
232, 000
232 000
Loan of 1858
Eedeemed
Converted
5
5
6, 041, 000
13, 957, 000
6,041, 000
13, 957,000
Total
10-40aof 1864.-. =
o...
Eedeemed
Exchanged:..
Total
19,998,000
5
5
19, 998,000
192, 378,450
2, 089, 500
14, 250
192,392,700
2, 089, 500
194,467,950
14,250
194,482,200
132
REPORT
ON T H E
FINANCES.
m i > . 2 ^ , - ' T 0 T A L AMOUNT of UNITED STATES BONDS B E T I B E D from May,
1869. to June 30, 1886—Continued.
F r o m M a y , D u r i n g fiscal T o J u n e 30
Eate
1869, t o
• How retired. ofinteryear.
1886.
J
u n e 30,1885.
est.
Title of loan.
Funded loan of 1881
Purchased
Eedeemed ...'.
Total
P e r ct.
6
5
Total of 6 per cents
Purchased
Eedeemed
Total...
Funded loan of 1907
Loan of July and August, 1861—
continued.
Loau of 1863—continued
,
4
4
116,340 550
64, 050
331, 052,750
1, 500, 000
1,418,850
1,500, 000
1,418, 850
2, 918, 850
127,491, 350
37,206,550
13, 231, 650
4,100
3^
37,210. 650
13, 231, 650
50,438, 200
4,100
50,442, 300
3^
3,^
108,852,600
292, 349, 600
190, 750
109, 043,350
292, 349,600
401, 202, 200
190,750
401,392,950
579, 035, 000
291, 600
579,326, 600
110,144,450
44,044,800
Total
Eedeemed . . . .
49, 800
90, 750
Total of 3 | per cents
Loan of July 12 1882
116,290,750
330, 988,700
127, 394, 600
Total....
Funded loan of 1881—continued .. Eedeemed —
Exchanged . . .
$49,800
2, 918, 850
Eedeemed
Eedeemed —
Exchanged . . :
$43, 599,000
72,741, 550
$43, 599,000
72, 691, 750
3
Total purchased
Total redeemed
Total converted
Total exchanged
448, 949, 050
1, 894, 618, 000
77, 956, 600
308, 476, 750
Affgreffate
2,730,000,400
44,531,350
44, 531,350
154,189, 250
448,949,050
1, 939,149, 350
77, 956, 600
308,476,750
2,774,531,760
N o . 2 5 . — B O N D S Of the LOANS given in STATEMENT No. 24, B E T I B E D prior to
May, 1869.
Title of loan.
Texan Indemnity S t o c k . . . . .
Oregon War Debt
10-40sof 1864
Total
„
:; ,u:-\-
How retired.
Eate of
interest.
Amount.
Eedeemed
Eedeemed —
Purchased
Per cent
5
6
6
$4,748,000
145,850
1, 551, 000
6,444,850
TREASURER
133
OF T H E UNITED STATES.
N o . 2e>o—MATUBED CALLED BONDS B E D E E M E D and OUTSTANDING June
30, 1886.
Eedeemed—
Loan.
CaU.
5-20s of 1862
When
matured.
1
2
3
4
6
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
D e c . 1,1871
M a r . 7,1872
M a r . 20,1872
J u n e 1,1873
S e p t . 6,1873
N o v . 16,1873
F e b . 1,1874
S e p t . 3; 1874
S e p t . 5,1874
N o v . 1,1874
D e c . 1,1874
J a n . 1,1875
F e b . 2,1875
M a y 1,1875
Jnne l,lr75
J u n e l l , 1875
J u l y 20,1875
A u g . 1,1875
A u g . 15,1875
Sept. 1,1875
Sept. 24,1875
Oct. 14,1875
Oct. 28,1875
24
NTov. 13,1875
24
25
26
27
28
29
30
31
Nov.
Dec.
Dec.
Dec.
Jan.
Feb.
Feb.
Feb.
Total
5-20s of M a r c h , 1864
'
5-20s of J u n e 1864
13,1875
1,1875
1,1875
17,1875
1,1876
1,1876
15,1876
15,1876
Total
Amount
palled.
31 F e b . 15,1876
32 D e c . 1,1876
33 D e c . 6,1876
34 D e c . 12,1876
35 D e c . 21,1876
36 J a n . 6,1877
37 A p r . 10,1877
38 A p r . 24; 1877
39 M a y 12,1877
40 M a y 28,1877
41 J u n e 3,1877
42 J u n e 10,1877
43 J u n e 15.1877
44 J u n e 27,1877
45 J u l y 5,1877
46 A u g . 5,1877
Total
C o n s o l s of 1865
<>.
47 A u g . 21,1877
48 A u g . 28,1877
49 S e p t . 11,1877
50 Oct. 5,1877
51 Oct. 16,1877
52 Oct. 19,1877
63 Oct. 27,1877
54 N o v . 3,1877
55 M a r . 6,1878
56 . J u l y 30,1878
57 A u g . 6,1878
58 A u g . 22,1878
69 Sept. 5,1878
60 Sept. 20,1878
61 Oct. 11,1878
62 Oct. 17,1878
63 Oct. 23,1878
T o J u n e 30,
1886."
$99, 959, 600
10, 222, 250
20,105, 500
49, 878, 650
20, 042.100
14, 335, 350
4, 994, 650
5, 020,100
1, 004, 950
25, 017, 700
14; 807, 700
10,168, 300
5, 091, 700
15, 028, 350
5, 005, 600
29, 998, 700
5, 006, 300
5, 001, 850
5, 003, 550
10, OOO, 050
5, 005, 200
10, 004, 800
14, 896, 750
$7, 500
1,000
"1,000
4,000
391, 600, 600
67,500.
1,000
1,000
1,500
4, 300
500
1,000
6,000
2, 000
9, 500
2, 000
2, 000
2,000
8, 000
0,200
5, OUO
2, 000
946, 600
Outstanding.
$99, 040,100
16,218,700
20, 083, 150
49,811,800
20, 023, GOO
14, 327, 500
4,988,300
5,016,850
1,003,950
24, 985,100
14, 799, 750
10,154, 550
5, 085, 650
15; 007, 700
5, 00.5, 050
29, 970, 550
5, 005, 600
5,001,450
5, 002. 250 •
D, 994, 850
5, 003, 050
10, 001, 350
14, 891, 850
$19,500
3, 500
22,350
66, 850
18, 500
7,850
6 350
3, 250
1 000
32, GOO
7,950
13,750
6, 050
20, 650
550
19,150
700
400
1,300
6,100
2,150
3, 450
4,900
391,331.750
268, 850
946,600
9,104, 500
200
100
8, 043, 900
5, 024, 750
.5, 012,900 " " " 4 , 0 0 0
5,020, 500
10, 012, 650
12, 802, 950
3,024,050
9, 093, 850
8, 043, 900
5,'020, 650
4, 992, 700
5, 018, 500
10, 010, 600
12,797, 700
3, 024, 050
10,650
4,300
58, 001, 950
44.250
58,046,200
5-208 of 1865.
During
t h e fiscal
year.
1, 974, 700
10, 032,300
9, 996, 300
10, 012, 250
10,053,750
10. 008, 250
10, oeo, 900
10,155,150
10,138,300
. 9, 904, 300
"10,041,050
10, 003, 250
10, 048, 300
10, 005, 500
10, 019, 000
10,114,550
1, 974,150
10, 032, 300
9, 992,100
300
9,992, 650
> 10.051,650
10,005,150
10, 026,100 '.
10,153, 650
10,137,800
9, 902, 800
10, 041, 050
10.003,250
10, 047, 300
10, 004, 500
10,018,000
10,114, 550
152, 533, 850
300
10,160,650
10, 018, 650
15, 000, 500
10, 003, 300
10, 014,050
10, 006,150.
10, 012, 600
10, 063, 700
10, 032, 250
5, 084, 850
5, 006, 850
4, 973,100
5,001,1.00
4, 793, 750
4, 945, 000
4, 989, 850
5, 081, 800
,
100
50
3,200
200
50
200
50
150
100
152,497, 000
10,151,1.00
10,012,6.00
, 14,980,600
9, 995, 700
9, 997, 750
'•• 9, 996, 650
9, 996, 650
10, 053. 250
10, 018, 200
6,080,100
5, 005, 300
4, 968,200"
4, 998, 450
4,783,100
4, 919. 050
4, 983, 300
5, 078, 350 1
4,100
20,200
2 000
2,050
5,250
650
4,200
19, 600
2,100
3,100
800
1,500
500
1,500
1,000
1,000
1,000
36,850
9, 552
6,050
19, 900
7,600
16, 300
9,500
15, 950
10,450
14,050
4,750
l,55Q
4,900
2, 650
10, 650
. 25, 950
6,550
3,450
134.
REPORT ON THE FINANCES.
NOo 2H.—MATUBED CALLED BONDS BEDEEMED and OUTSTANDING June
30, 1886—Coiitinued.
Eedeemed—
Loan.
Consols of 1865—Continued .
Call.
When
matured.
caUed.
During
t h e fiscal
year.
T o J u n e 30,
1886.
ing.
1,000
3,500
$5,243,200
. 4,961,950
5, 082,300
' 4,991,000
6,070, 600
4.993, 600
4,615,900
5, 001,600
5, 057,450
5,009, 000
6, 003, 800
12,370, 650
$10,100
4,650
6,560
200
1.600
2,700
4,750
1,600
2,200
1,400
2,600
4,300
202, 631,750
15, 900
202, 419,400
212,350
1,1879
9, 983, 700
4,1879
9, 893, 300
6,1879
10, 314, 700
8,1879
10„006, 650
11,1879 >, 9,389, 600
14,1879
20,104. 700
18,1879
19, 604. 800
21,1879
18, 679, 500
24,1879
21, 622, 950
28,1879
20, 253, 900
1,1879
20,161,250
6,1879
20, 044, 250
12,1879
19, 858, 600
17,1879
20, 219, 200
24,1879
19, 407,450
4,1879
10,674, 400
12,1879
10,464,650
29,1879
10, 076, 700
3,1879
9, 972, 800
4,1879
19,213, 050
1,050
150
150
1,100
1,550
900
350
5, 550
100
500
850
750
1,200
3, 550
1,950
500
2,450
100
3,100
800
9, 960, 650
9,871,650.
10, 306, 950
9, 984, 050
9,364,550
20, 065, 850
19, 566, 550
18, 555, 550
21,603,300
20,241,000
20,150,100
20, 025, 250
19. 800, 850
20, 198, 850
19, 385, 200
10, 654, 800
10,457,900
10, 054, 200
9, 959, 950
19,191, 800
23,050
21, 650
7, 750
22, 600
25, 050
38, 850
38,250
23, 950
19,650
12, 900
11,150
19, 000
57, 750
20, 350
22, 250
19,600
6,750
22, 500
12,850
21, 250
$5,253,300
4,966, 500
6, 088, 850
4, 991, 200
5, 072,200
4, 996,300
4 620 650
6, 003. 200
6, 059, 650
5,010,400
5, 006,400
12, 374, 950
$500
100
100
6,600
1,000
100
64
.65
66
67
68
69
70
71
72
73
74
75
Oct
Nov.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
Feb.
Feb.
Mar.
Mar.
30,1878
5,1878
7,1878
10,1878
16,1878
26,1878
4,1878
16,1878
16,1879
27,1879
9,1879
18,1879
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
May
May
May
May
May
June
June
June
July
July
C o n s o l s of 1868
96
July
10-40sof
97
98
99
J u l y 9,1879
J u l y 18,1879
J u l y 21,1879
L o a n o f 1858.
100
J u l y 23,1879
260, 000
F u n d e d l o a n of 1881
101
103
104
M a y 21,1881
A u g . 12,1881
Oct. 1,1881
25, 030.100
10,121, 850
28,184, 500
4,700
12,400
32, 700
25, 022, 600
10, 069, 850
28,095, 300
7,500
52, 000
89, 200
63, 336,450
49, 800
63,187. 750 •
148, 700
12,947,450
2,500
12,793,700
153,750
Total
Co"n<^o1s of 1867
Total
864
26,950
309, 399,000
447,150.
12,250
37, 345, 750
74, 550
• 10, 294, 250
157, 607, 500
24, 575, 050
14, 250
10, 290, 200
157,526, 450
24, 575, 050
4,050
81,050
192, 476, 800
14, 260
192,391,700
85,100
309,846,150
4,1879
Total
Total
37,420,300
,
260, 000
L o a n of J u l y a n d A u g u s t ,
1861.
102
July
L o a n of 1863
102
July
1,1881
4,087, 800
1,100
4,656,150
31,650
L o a n of J n l y a n d A u g u s t ,
1861, c o n t i n u e d a t 3^ p e r
cent.
105
106
107
108
109
Dec.
Jan.
Mar.
Apr.
May
May
May
June
July
24,1881
29,1882
13,1882
8,1882
3,1882
10,1882
17,1882
7,1882
1,1882
20,031, 550
20,184, 900
19, 564,100
20, 546,700
5, 086, 200
6,010,200
5, 096,650
16,109,950
11, 227,600
1,000
1,000
2,050
3,950
34, 300
14, 000
4,300
41,350
60,000
20, 030, 550
20,182,850
19, 560.150
20,512,400
5,072,200
5, 005, 900
5,096 550
15,067,700
11,223,500
121,857,650
96,750
121,751, 800
105, 850
16. 024, 700
16, 304,100
3,269,650
3,000
1,100
15,022, 650
16,294, 000
3,266,250
2,160
10,100
3,400
34,508,450
4,100
34,682.800
15,650
no
111
^^?
113
1,1881
Total
L o a n of 1863, c o n t i n n e d a t
3§ p e r c e n t .
T o ^
114
115
116
A u g . 1,1882
Sept. 13,1882
Oct.
4,1882
2,400
1,000
1,000
42,250
i,ooo
TREASURER OF THE UNITED StATES.
135
"Xo. 2^0—MATURED CALLED BONDS BEDEEMED and OUTSTANDING June
30, 1886—Continued.
Eedeeme'd—
CaM.
Loan.
F u n d e d l o a n of 1881, continu e d a t 3^ p e r c e n t .
When
matured.
117 D e c . 23,1882
118 J a n . 18,1883
119 F e b . 10,1883
120 M a y 1,1883
121 N o v . 1,1883
Total
L o a n of J u l y 12„1882
122 D e c .
123 D e c .
124 F e b .
125 M a r .
126 M a y
127 J u n e
128 J u n e
K9 Aug.
130 S e p t .
131 N o v .
132 F e b .
133 Mar.
,134 A p r .
135 M a y
136 J u n e
1,1883
15,1883
1,-1884
15,1884
1,1884
20,1884
30,1884
1,1884
30,1884
1,1884
1,1886
1,1886
1,1886
1,1886
1,1886
Amount
called.
T o J u n e 30,
1886.
$25, 822, 600
16,119,850
15, 221, 800
15, 215, 350
30, 753, 350
$61.9.50
3,000
46, 500
3,000
76, 300
$25,807, 350
16,107,1.50
15, 211, 000
15,198,950
30, 696, 550
$15,250
12,700
10, 800
16,400
56,800
103,132, 950
190, 750
103, 021, 000
111,950
55, 800
6,450
31,750
25,400
143,400
15,700
48,150
163, 500
46, 900
62, 000
9, 540, 650
9, 319, 200
9,197, 900
8,169, 800
7,198, 200
15,157, 900
15, 022, 300
9, 992, 650
10, 016, 450
10,084,950
9, 990, 950
• 10,103,200
9, 980,100
10, 016, 800
10, 325, 950
9, 540, 650
9, 319, 200
9,197, 900
8,169, 800
7,198, 200
114,200
111,350
216,200
31,400
8.150
19, 300
47, 850
60, 700
33,300
4,800
557, 500
681,050
814, 850
I, 840, 050
2, 804,700
44, 024, 800
154,117, 000
7, 345 400
15, 272,100
15,133, 650
10, 208, 850
10, 047, 850
10, 093,100
10, 010, 250
10,151, 050
10, 040, 800
10, 050,100.
10,330,750
10,098,150
10,000, 250
10,012, 750
10,009, 850
10. 002,900
161,462,400
Total.......
Outstanding.
During
t h e fiscal
year.
E E C A P I T U L A T I O N BY LOANS.
Eedeemed.
Loan.
5-208 of 1862
-.
5-20S of March, 1864
.5-20sof June, 1864
,
5-20S of 1865
Consols of 1865
Consols of 1867
Consolsof 1868
10-403 of 1864
Loanof 1858
•.
Funded Loan of 1881
Loan of July and August, 1861
»
Loanof 1863
Loan of J u l y and August, 1861, continued
at 3^ p e r c e n t ..„.,.
Loan of 1863, continued at 3^ per cent
Funded Loan of 1881, continued at 3^ per
cent
Loan of July 12, 1882
Total
Amount called.
During the
fiscal year.
$391, 600,600
946, 600
68, 046, 200
152, 533, 850
202, 631,750
309, 846,150
37, 420, 300
192, 476, 800
260,000
63, 336,450
12, 947, 450
4, 687, 800
$67, 500
To J u n e 30,
1886.
Outstanding.
$268, 850
49, 800
2, 500
1,100
$391, 331,750
946, 600
58, 001, 950
152, 497, 000
202, 419,400
309, 399, 000
37, 345, 750
192, 391, 700
260, 000
63,187. 750
12,793, 700
4, 656,150
121, 857,650
34, 598,450
96, 750
4,100
121, 751, 800
34, 582, 800
105, 850
15, 650
103,132, 950
161,462,400
190, 750
44,024, 800
103, 021, 000
154.117, 000
111, 950
7,346,400
1,847,785,400
4,300
300
15, 900
26, 950
12, 250
14, 250
44,511,250
1,838,703,350
44, 250
36, 850
212, 350
447,150
74, 550
85,100
148, 700
153, 750
31, 650
9,082,050
136
REPORT ON T H E , FINANCES.
M o . 27.—BALANCED STATEMENT of B E C E I P T S and D E L I V E B I E S of
MONEYS by the NATIONAL BANK B E D E M P T I O N AGENCY for the fiscal,
year.1886. '
.
Dr.
Cr.
Amount.
To Cash Balance June 30, 1885.
To National-Bank Notes received for redemption
To ''Overs" reported in National-Bank Notes received
for redemption
$6, 791, 087 93
130, 296,606 82
25,528 97
/
/
/
/
/
137,113,223 72
Total
By National-Bank Notes, fit
for circulation, forwarded
to National Banks by express
By National-Bank Notes, unfit for circulation, delivered
to the Comptroller of the
Currency
By notes of failed and liquidating National Banks deposited in the Treasury of
the United States
By United'States Notes deposited in the Treasury of
the United States
By packages referred and
moneys returned
By express charges deducted.
By counterfeit notes rejected
and returned
By National-Bank Notes—less
than three-fifths, lacking
signatures, and stolen—rejected and. returned, and
discount on United States
currency
By "Shorts" reported in National-Bank No ees received
for redemption
By Cash Balance J u n e 30,1886.
Total
Amount.
$46,701,100 00
82.266,713 60
3,910,673 00
111, 924 50
277 194 78
626 96
. 2,720 00
3, 822 28
8, 246 65
3, 840,402 05
137,113,223 72
W o . 2^.—BALANCED STATEMENT of B E C E I P T S and D E L I V E B I E S of
MONEYS hy the NATIONAL BANK B E D E M P T I O N AGENCY, from July 1, 1874
to June 30, 1886. Amount.
Dr.
To National-Bank Notes received for redemption
' $1,684,936,461 57
To " O v e r s " reported in National-Bank Notes received
213,592 71
./
/
/
/
/
/
/
' '^,a '•
Total
1,685,150,054 28
•
Cr.
By National-Bank Notes, fit for
circufation, deposited in the
Treasury, and forwarded to
National Banks by express.
By National-Bank Notes, unfit
for circulation, delivered to
the Comptroller of the Currency. . . . . .. . .
By notes of failed and iiquidating National Banks, deposited in -the Treasury of
the United States
By United States Notes deposited in the Treasury ^of
the United States
By packages referred and
moneys returned
By express charges deducted .
By counterfeit notes rejected
and returned
By National-Bank Notes—less
than three-fifths, lacking
signatures, and stolen—rejected and returned, and discount on United States currency
By " S h o r t s " reported in National-Bank Nofces received
for redemption
By cash balance June 30,1886.
Total
Amount.
$714,273,491 00
826, 977, 905 50
129,891, 910 00
1,821,832 50
8, 015, 049 30
42, 666 27
48,519 25
87,401 07
160, 877 34
3,840,402 05
1,685,150,054 28
W o . 29.—NATIONAL-BANK NOTES B E C E I V E D for B E D E M P T I O N during each MONTH of the fiscal year 1886 from the P B I N C I P A L
C I T I E S and OTHEB PLACES.
1885.
W h e n c e received.
1886.
Total.
July.
Au^st.
September.
October.
November.
December. Jahtiary.
February.
March.
May.
April.
P e r cent.
June.
NewYork
$4,873, 000 $4, 089, 000 $2,505,000 $2, 283, 000 $1,646,000 $3, 715, 000 $8, 716, 000 $5,075,000 $3,068,000 $3, 057,000 $5,173,000 $5,287,000 $49,487,000
2,832,000 2, 529, 000 1, 985, 000 2, 395,000 2, 340, 000 3, 328, 000 4, 294, 000 2,982,000 2, 365,000 1,739,000 1, 870,000 1, 372, 000 30,031.000
Boston
503, 000
682, 000
645, 000 7, 323, 00(^
532, 000
724, 000
759,000
Philadelphia...
479, 000
579, 000
641, 000
692, 000
• 605,000
582, GOO
232, 000
211,000
663,000 5,493, 000
302,000
Chicago
229, 000
703,000
440, 000
666, 000
497,000
494, 000
713, 000
443,000
131,000
287, 000
200, 000 2,263,000
326,000
229, 000
Cincinnati
148,000
163, 000
153,000
183, 000
133, 000
150, 000
160,000
290, 000
210, COO
312, 000 3,422,000
273,000
Saint Louia
266, 000
345, 000
303, 000
283,000
246, 000
272,000
345, 000
287,000
214, 000
202,000
350,000 3, 646,000
249, 000
360,000
235, 000
Baltimore
331,000
272, 000
275, 000
304, 000
456, OOO
308, 000
207, 000
156, 000
110,000 1,423,000
116, 000
218,000
51,000
138,000
NewOrleans...
14, 000
87,000
119,000
90, 000
117, 000
148,000
188, 000
91,000 1,731,000
220,000
151, doo
234, 000
81, 000
Providence
101, 000
105.000
128,000
164, 000
120, 000
626,000
43,000
58, 000
• 38, 000
36,000
30,000
Pittsburgh
32, 000
56,
000
46, 000
37,
000
39,
000
58, 000
54,000
O t h e r p l a c e s . . . 2,246,000 1, 508,000 1,268,000 3, 429, 000 1, 876, 000 1, 995,000 1, 915, 000 2, 080, 000 3, 288, 000 1, 511, OOO 1, 883,000 2, 062,600 26,051,600
37.98
23.05
5.62
4.22
1.74
2.63
2.72
1.09
1.32
.40
19.23
8,421,000 11,480,000 11,140. 600 130,296,600
100.00
Total
12,131,000
9, 894,000
1,649
1,521
N o . of p a c k a g e s
7, 589, 000 10,112, 000
1,394
1,669
7,772,000 11, 238, 000 17,485, 000 12,208, 000 10, 826, 000
1,404
1,727
2,007
1,016
1,448
1,760
1,581
J u l y , 1885..
August, 1886
September, 1886..
October, 1885
November, 1885.
December. 1885 ..
January, 1886 . . . .
February, 1886. ..
Marcb, 1886
April, 1886
May, 1886
,
June, 1886
- Total
Percentage
..
Transfer
checks.
$8, 000,627 98
6, 286,340 32
3,542, 561 71
4,118,936 53
3, 533,858 46
6,157, 383 18
12,412, 950 90
7, 806,995 23
6, 097,739 25
4, 224,809 80
6, 509,730 54
6, 458,1:^1 36
.74,149,555 26
57. 02
United States
notes.
Fractional
silver coin.
Standard
silver dollars.
$533, 825 09
549, 675 65
806, 906 07
861, 926 22
673, 121 00
1, 071,233 73
703, 519 06
708, 759 96
721, 858 65
897, 113 79
809, 968 17
866, 845 37
$9, 500 00
15, 510 CO
13, 998 50
12, 567 00
. 10, 565 00
3, 500 00
4, 070 00
1, 500 00
7, 999 25
4, 570 00
6, 000 00
14,063 87
$29, 835 00
58,473 12
51, 917 99
63,494 25
41,499 25
35, 993 00
22, 000 00
25, 988 50
32,499 62
25, 500 00
27, 999 62
35, 993 87
9, 204,752 76
103, 843 62
451,194 22
7.08
.08
Counter
redemptions.
Credits in.
Credits in gen- redemption aceral account.
counts.
Total.
$2,163, 664 35
2, 205,000 00
2, 483,025 CO
2, 223,980 00
2, 270,990 00
2,419, 970 00
2, 798,665 95
. 2.956,220 00
2, 472,985 00
2, 627, 980 CO
3, 453,602 00
2, 931,005^00
$553,477 51
540, 404 43
484, 692: 70
595,318 18
384, 569 03
495, 208 21
823, 526 18
870,539-77
795, 782 26
400, 038 27
364, 675 92
419, 474 50
$12,092, 168 93
9, 849,617 52
7, 608,724 97
10, 080,549 1 8
7,796, 221 74
10, 923,666 12
17, 053,784 09
12, 844,915 46
10, 818,686 03
8, 388,013 86
11, 460,386 25
11,112, 890 97
8,385,485 00 | 31,007,087 30
6, 727, 706 96
130,029, 625 12
$801, 239 00
194, 214 00
225, 623 00
5, 204,327 00
881, 619 00
740, 378 00
289, 052 00
474, 912 00
,689, 822 00
208, 502 00
288, 410 CO
387,387 00
6.45
23.85
^
19, 338
1,562
N o . S^.—MODE of P A Y M E N T for NATIONAL-BANK N O T E S B E D E E M E D during thefiscal year 1886.
Month.
i
5.17
100. 00
I
i
m
05
138
REPORT ON THE FINANCES.
No. Sl.—DEPOSITS made hy NATIONAL BANKS in the FIVE PEB CENT. FUND
for the BEDEMPTION of their NOTES- during thefiscal year 1886.
Deposits of
lawfal money
with assistant
treasurers
United States.
, Month.
1885.
July
August
September
October
November
December . .
$11, 297, 879 46
7, 907. 598 86
7, 226,148 52
5,866,998 32
4,380, 980 21
-7,134,428
99
....
1886.
Januarv
Febmary
M a r^.li
r
-
AprU
May
J-Qne
Total
DEPOSITS "WITH TKEASUKER UNITED STATES.
Proceeds of
Eemittances of natioiuil-bauk
lawful money
notes
by express.
redeemed.
Counter
deposits.
$155,921 00
69, 200 25
83,840 25
78,817 10
67, 353 29
97,443 55
.
TotaL
$386,081 31
307,176 72
293,409 67
231, 924 73
191, 527 48
244,968 99
$553,477 61
504,404 43
399, 692 70
358, 318 18
240, 569 03
408, 499 71
$12,393,359 28
8,788.380 26
8,003, 091 14
6, 536, 058 33
4, 880,430 01
7, 885, 341 24
8,107,489 22
10, 599,640 47
10, 078, 895 56
5, 815,189 67
6,176, 995 02
7, 770, 939 85
133, 017
184, 766
253,185
187, 621
222, 460
253, 014
97
04
78
83
25
53
285,811 33
361, 901 02
312,428 70
238, 906 73
271, 081 38
308, 250 72
664, 536 56
747, 829 77
743, 982 26
370, 038 27
364, 675 92
419,474 50
9,190,855 08
11, 894,137 30
11, 388,492 30
6, 611. 756 50
7,035,212 57
8,752, 279 60
.92,363,184 15
•1, .787, 241 84
3,433,468 78
5, 775,498 84
103, 359, 393 61
3.32
5.59
100.00
89.36
Percentage
1.73
N o . S2.—NOTES of NATIONAL BANKS BEDEEMED and DELIVEBED on the
FIVE PEB CENT. ACCO UNT during thefiscal year 1886.
Month.
July .
...
Augnst —
September .
October
November .
December..
January .
February .
March
AprU
May ..'
June
Total
Percentage.
1885.
1886.
Forwarded
Delivered to
by express to the ComptroUer
banks of isof the Cursue.
rency.
TotaL
$4,193, 000
3,762,400
3, 086, 050
2, 809, 380
1, 561, 750
4,290,760
$6,482, 600
4, 848, 900
4,140, 900
3,675,930
2,774,710
4,521,620
$10,675,600
8,611, 300
7,226,950
6,485,310
4,336,460
8,812, 380
6,346,760
6,289, 210
6,486, 950
2,709,860
3, 278, 560
3,826,420
4,876, 990
5, 578, 220
6,414,470
3,182, 570
4,264, 725
4, 771,400
10, 223, 750
11, 867, 430
10, 901, 420
5, 952,430
7, 543 285
8, 597, 820
46, 701,100
54, 532,935
101,234,035
53.87
100.00
46.13
139
TREASURER OF THE UNITED STATES.
- N o . SSo—DEPOSITS made hy NATIONAL BANKS for the B E T I B E M E N T of their
NOTES during the iiscal year, 1886.
Month.
On account
of failed
baiiks.
Under section 6222,
Eevised
Statutes.
$106,100 00
$749,940 00
359, 900 00
67, 500 00
1885.
July ....
August
September .
October
November..
December..
20,000 00
11,250 00
341,300 00
Under section
4, act J u n e
20, 1874,
modified by
act July
12,1882.
Under section
6,, act July
12,1882.
TotaL
$1, 434, 980 00
972,450 00
1,704,924 CO
2,409, 966 25
2, 337, 771 00
3,101, 526 38
$595,770 00
184, 010 00
351,730 00
641, 975 00
414,300 00
500, 910 00
$2,780,690
1, 622, 460
2,124,154
3,071,941
2,763, 321
4, 043, 576
00
00
00
25
00
38
00
00
00
00
00
00
3, 699.144 00
5,582, 052 75
3, 837, 717 37
3, 045,906 00
1,706,190 00
2, 590, 530 00
1,020,610 00
2,193,385 00
2,462,130 00
2,825,750 00
1, 852, 705 00
3, 377, 640 00
4, 742, 704
7, 843,407
6,424,177
6, 047, 655
3,710,795
6, 035, 080
00
75
37
00
00
00
1, 547, 820 00
32,423,156 75
16, 420, 915 00
19,840 00
1886.
January.
February .
March
April
May
June
90,000
131. 000
74, 000
44,420
Total.
00
00
00
00
818,070 00
22,950
67,970
34, 330
45, 000
77,900
22,490
51, 209, 961 75
NOTE.—Deposits on account of faUed banks are made from the proceeds of the sale of the bonds
held as security for the circulation of such banks. Section 6222 of the Eevised Statutes requires law.
ful money to be deposited to redeem the outstanding circulation of banks in voluntary liquidation.
Section 6 of the act of J u l y 12, 1882, requires lawful money to be deposited within three years after
the extension of a bank's corporate existence to redeem the remainder of the circulation outstanding
at the date of such extension. SOction 4 of the act of June 20,1874, as modified by the act of July 12»
1882, contains the general provisions of law enabling banks to deposit lawful money for the purpose of
withdrawing circulation and taking up the bonds held as security therefor.
N o . S^.—NOTES of F A I L E D , LIQUIDATING, and BEDUCING NATIONAL
BANKS B E D E E M E D and D E L I V E B E D , to June 30, 1877, hy FISCAL YEABS to
1885, and hy MONTHS to June 30, 1886.
Period.
T o J u n e 30, 1877
Fiscal year 1878
;, 098,281
752,497
636,613
382,116
426,888
633, 504
722,808
626,212
703.785
1879
1880
1881
1882
1883
1884
1885
Total to June 30,1885....
Eeducing.
Liquidating.
FaUed.
80
50
50
50
50
60
00
00
60
10,881,707 80
$14; 106,006
1, 810,752
1, 554,086
1,058, 414
1,144, 906
1, 769,756
4,595, 593
6, 746,173
7, 066,226
45 $50, 720,719
9, 446,626
00
5, 866,001
50
4, 961,385
50
10,773, 0Q4
40
00 14, 505,346
00 18, 233,878
50 20,486, 304
50 20, 692,213
38,851,914 85
00
00
00
00
€0
00
50
00
00
155, 685,476 50
Total.
$70, 925,007
12, 009,875
8, 056,701
6,401, 916
12, 344,798
16, 808,606
23, 552,279
26,857, 689
28, 462,225
25
50
00
00
90
50
50
50
00
205,419,099 16
1885.
July
August
September
October...
November
December
-.
,
,
96,246 00
81,950 00
39, 611 00
22,017 00
42,474 00
44,830 00
1,165,438 50
727, 579 00
759, 285 00
462, 247 00
1, 882,140 50
1,094,726 00
1, 678, 915 00
823,800 00
833, 610 CO
1,994, 840 00
687, 340 00
930,810 GO
2, 940, 599 50
1, 633, 329 00
1,632,406 00
2, 479,104 00
2, 611,954 50
2, 070, 366 00
42,385 00
55,050 00
56,056 00
34,847 00
47,030 00
46, 312 00
1,216, 535 00
1,460, 945 50
1, 596, 872 00
1,112,-^0 50
1,485,255 50
1,673,906 60
951,330 00
1, 228,790 00
1, 397,780 00
926, 200 00
1,295,205 00
1, 562, 550 00
2, 210, 250
2,744, 785
3, 050,707
2, 073, 827
2, 827,490
3,282,768
1886.
January
Febmary
March
AprU
May
June
,
,
,
00
50
00
50
50
60
Total for fiscal year 1886
*608,707 00 f 14, 637,711 00
14, 311,170 00
29, 657,588 00
Total to J u n e 30,1886...
53,489,625 85
169,996,646 50
234,976,687 15
11,490,414 80
* Delivered by Cash Division.
t $1,225,102.50 deUvered by Cash Division.
140
REPORT
ON T H E
FINANCES^
N o . S 5 . — D E P O S I T S and B E D E M P T I O N S on ACCOUNT of NATIONAL BANKS
F A I L E D , in LIQUIDATION, and B E D U C I N G CIBCULATION, to June 30, 1877,
hy FISCAL YEABS to 1885, and hy MONTHS to Novemher 30, 1886; and BALANCE
of the D E P O S I T S at the close of each period.
Period.
Totalto J u n e 30,1885.
January...
February.
March
April
May
June
Eedemptions.
$83, 916, 368 25 $70, 925,007 25
8, 816, 027 50
12, 009,875 50
9, 855, 249 25
8, 056,701 00
14,143, 476 00
6,401, 916 00
26,154, 036 50 12, 344,798 90
20,718, 477 25 16,808, 606 50
22,653, 460 50 23, 552,279 50
30, 067, 900 00 26, 857,689 50
27, 690, 430 00 28,462, 225 00
T o J u n e 30,1877.
Fiscal year 1878.
1879.
1880.
1881.
1882 .
1883 .
f884.
1885.
July
August . . . .
September .
October
November..
December.,
Deposits.
1885.
1886.
Total for fiscal year 1886 .
Total to J u n e 30,1886 . . . .
Jnly
August —
September.
October
November..
244,015,431 26
Balances.
$12, 991, 361 00
9, 797, 513 00
11,596,061 25
19,337, 621 25
33,146, 858 85
37, 056, 729 60
36,157, 910 60
39, 368,121 10
38, 596,332 10
205, 419, 099 15
2, 780, 690 00
1, 622,460 00
2,124,154 00
3, 071,941 25
2, 763,321 00
4, 043, 576 38
2, 940, 599 50
1. 633, 329 00
1, 632, 406 00
2, 479,104 00
2, 611, 954 50
2, 070, 366 00
38,436,422 60
38, 425, 553 60
38, 917, 301 60
39, 510,138 85
39, 661, 505 35
41, 634, 715 73
4,742,704 00
7,843,407 75
6,424,177 37
6, 047, 655 00
3, 710,795 00
6, 035, 080 00
2, 210, 250 00
2,744,785 50
3, 050, 707 00
2, 073, 827 50
2, 827,490 50
3, 282, 768 50
44,167,169 73
49, 265, 791 98
52, 639, 262 35
56, 613, 089 85
57.496, 394 35
60, 248,705 85
51,209,961 75
29, 557, 588 00
295, 225, 393 00 234, 976, 687 15
2,843, 260 00
2,675,150 00
6, 523, 765 00
13, 896, 950 25
11, 987, 760 00
2,710, 945 00
2,122, 215 50
1, 845,173 00
1,404,134 00
2, 981,806 00
60, 381,020 85
60, 933i 955 35
65, 612, 547 35
78,105, 363 60
87, 111, 317 60
N o . S ^ . — P A C K A G E S of NATIONAL-BANKNOTES D E L I V E B E D during thefiscal
year 1886.
Packages of assorted national-bank notes, fit for oirculation, forwarded by express to national banks
=
'.
Packages of assorted national-bank notes, unfit for circulation, delivered t o the Comptroller of the Currency
Total
No.
29, 690
76,546
106,236
S H . — E X P E N S E S I N C U B B E D in the B E D E M P T I O N of NATIONAL-BANK
. N O T E S during the fiscal year 188Q.
Charges for transportation
Costs for assorting:
Salaries....
Printing and binding
Stationeryv
Contingentexpenses
*
„..„
....=
$74,490 62
.
.„
=
„,
$89,065 18
3,190 89
1,163 65
'..
333 11
93,752 83
Total.
168,243 35
141
TREASURER OF THE UNITED STATES.
N o . SS.—STA TEMENT showing the MONTHLY BECEIPTS from CUSTOMSatNEW
YOBK from April, 1878, to Octoher, 1886, and the PEBCENTAGE of EACH KIND
of MONEY BECEIVED.
Total
receipts.
Months.
Goldcoin.
SUver coin.
1 8 7 8 - A p r U (18th t o 3 0 t h ) - . . $3, 054,364
6,617,137
6, 065, 828
June
P e r cent
0.6
6.2
5.4
Per cent
0.1
0.8
0.1
15, 737, 329
4.8
0.4
201, 698
249,459
199, 455
387, 976
824, 556
264, 674
4.0
4.3
4.7
5.2
5.9
60.3
0.1
0.3
0.3
0.4
0.3
0.3
49,127, 818
12.0
7, 659, 000
8, 236, 000
9, 339, 000
8,190, 000
7,684, 000
7, 208, 000
29.1
23.5
18.6
28.6
28.6
1 2
0 9
1 3
1.2
1 i>
1 4
0.3
61.3
25. 2
6.1
2.2
0.6
L3
0.9
0.6
0.1
0.3
0.2
0.1
0.2
0.2
3.9
0.5
0.1
0.2
0.1
20.4
6.1
2.7
3.3
4.7
6.2
48,216,000
19
0.2
0.8
7.0
9,335,000
- - - - - - 10, 665,000
11,472, 000
10,979,000
8,467,000
. . . 8,175,000
0.3
0.4
0.6
19.5
46.4
66.9
0.1
0.3
0.2
0.1
0.2
0.2
58,993,000
19.8 1
0.2
11,969,000.
12,258,000
14,477, OGO
11, 818, 000
9,852,000
10, 701, 000
68.3
63.2
69.0
62.2
62.1
48.8
71, 075,000
1880—Januarv
Febmary
M a r c h ..o = -»
A p r i l „o-oo
May
June
July,
=
August .... =
September
October
N o v e m b e r o»o = o =
December.. ,o»o»o
July.
August
September
October
November
D e c e m b e r - r -,
P e r cent.
1.3
1 5
1 8
65.0
71.0
75.1
64.6
. 63.7
13.1
8,
10,
9,
8,
6,
6,
.
73.3 1
P e r cent
2.6
15.8
32.6
1.6
1870—Januarv . . . .
February
March
AprU...=..........
May
June
1881—Jamaiary ooo=oo
F e b r u a r y .00=0
March
=
April...0 =0
May
:
June
oo^-oo
Per cent
95,4
75. 7
60.1
19.9
July
August
September
Ootober
November
December
July
Aupnst
--.
September
October
November.-..
December
United
Sfcates
notes.
Gold
SUver
certificates. certificates.
9d. Q
i
1.2
69
90
96
95
94
93
5
9
4
1
1
0
90.1
15.1
18.6
20.8
21.8
27.4
23.4
84
80
78
58
24
9
2L0
58.7
0.2
0.1
0.1
0.1
0.2
0.1
16.5
21.8
24.9
29.7
27.1
32.9
15
14
6
8
20
18
6L4
0.1
25.3
13:2
13,301,000
14,403, 000
12. 859,000
10, 675,000
9, 081,000
9, 234,000
67.7
55.9
49.9
42.4
45.0
46.2
0.1
0.1
0.1
0.1
0.1
0.2
3L4
37.8
44.6
51.9
50.0
47.8
10.8
6 2
5 4
5 6
4 9
5 8
69,453,000
60.4
0.1
42.9
6 6
10,573,000
11,221,000
13,196,000
. 11,684,000
11,051, 000
11,013,000
47.5
44.5
47.6
44.5
45.9
39.3
0.1
0.1
0.1
0.1
0.1
0.1
45.1
44.1
47.1
61.5
50.9
57. 0
7.3
11 3
5.2
3 9
^3.1
3.6
68,738,000
45.0
0.1
49.3
5.6
12,082,000
15, 206,000
14,108, 000
13,019,000
9, 718, 000
10, 973, 000
38..8
43.5
37.1
35 8
62.9
77.1
0.1
0.1
0.1
0.1
0.1
0.1
. 57.9
52.8
60.7
62.1
33. 8
18.7
75,106, 000
47.6
0.1
49.3
'
L9
0.3
3
•3
2
2
3
4
6
8
5
6
1
6
0
9
0
0
6
2
2
6
1
0
2
1
3.0
142
REPORT ON THE FINANCES,
1^0. S^.—STATEMENT shoiving the MONTHLY BECEIPTS from CUSTOMS, 4^c.—
Continued.
Total
receipts.
Months.
ig82
Januarv
Ffthruarv
Per cent
0.1
0.1
O.I
0.2
0.2
0.1
74,930,000
72.9
0.1
13,730, 000
16,487, 000
14,695,000
13,101,000
9, 939, 000
10,381,000
66.6
46.1
38.8
18.2
10.3
5.3
0.1
0.1
0.1
0.1
0.1
0.1
78, 333, 000
33.6
12, 574, 000
12,194, 000
12,435, 000
9,199, 000
8,155, 000
13, 630,000
P e r cent.
P e r cent.
20.3
24.8
19.8
22.2
23.4
23.4
42.2
63.9
69.1
8.6
5.6
5.6
7.4
9.5
6.8
0.1
24.3
34.8
7.2
4.2
3.9
6.5
10.8
4.7
3.3
0.1
0.1
0.1
0.1
0.1
0.1
72.1
75.1
73.7
65.6
62.2
69.4
16.7
15.9
13.1
17.7
26.1
20.2
7 9
5.0
6.6
6.9
6.9
7.0
68,187,000
5.3
0.1
70.6
17.7
6.4
14,609,000
13,290,000
12, 050, 000
.'.. 11,616,000
8, 928, 000
.9,338,000
2.3
2.7
3.2
2.9
3.1
2.8
0.1
0.1
0.1
0.1
0.1
0.1
79.1
73.2
77.8
75.8
67.6
71.3
13.0
18.0
13.9
16.4
22.5
19.4
5.6
6.0
6.0
4.8
6.7
6.4
69,831,000
2.8
0.1
74.7
16.7
6.7
11,768, 000
12, 069, 000
11.447,000
9, 850, 000
9,289, 000
9, 459, 000
2.4
2.1
1.8
2.5
3.3
3.1
0.1
0.1
0.1
0.1
0.1
0.1
66.2
67.6
60.7
56.9
46.5
40.0
23.7
22.0
26.4
26.8
35.3
35.6
7.6
8.3
11 0
13.7
14.8
21 2
63.882,000
2.5
0.1
57.3
27.8
12.3
1.6
1.3
1.6
1.8
1.9
1.7
0.1
0.1
0.1
0.1
0.1
0.1
48.1
44.4
32.4
23.6
18.3
17.9
32.4
32.3
31.4
32.1
42.2
44.0
17.8
21 9
34.5
42 4
37.5
36.3
64,104, 000
1.6
0.1
33.1
34.8
30.4
10, 306, 000
10,461,000
11, 281, 000
9, 983, 000
9, 523, 000
9, 644, COO
1.1
0.8
0.7
0.9
0.7
0.7
0.1
0.1
0.1
0.1
0.1
0.2
26.6
31.4
39.7
38.1
43.0
32.6
40.5
32.3
34.6
41.3
37.4
33.3
31 7
35 4
25 0
19 6
18.8
33 3
61, 198. 000
0.8
0.1
35.2
36.5
27.4
. ^ . . . . : . 11, 821, 000
12,700, 500
12,167,000
10,771,000
8, 730, 000
9, 935, 000
0.7
0.6
0.7
0.8
0.9
0.7
0.2
0.3
0.3
0.2
0.4
0.3
28.8
47.4
63.4
70.8
56.9
60.5
23.6
13.6
9.8
11.3
13.4
13.8
,46.7
38 2
25 8
16 9
28.4
24.7
66,124, 500
0.7
0.3
54.6
14.3
30.1
July
August
September
October
November
December
. . . .
1884—January
February
March......
......
AprU . . . . . . . . . . . . . .
May
1
June ....
:
Januarv
February
March
AprU
May
J une
13,
12,
11,
10,
„. 7,
8,
111, 000
828,000
992.000
369, 000
717, 000
087, OGO
•
P e r cent.
6.7
8.6
4.5
4.1
5.7
. 7.8
24.8
48.2
56.5
32.1
16.2
18.7
1883 J a n u a r v . . .
February
March
April
May
June ........
July
August
September
October
November
December
Per cent
72.9
66.5
75.6
73.5
70.7
68.7
5.8
Sentember
. October
November
December
1885
$13,393, ood
13, 589, 000
14, 000, 000
10, 528, 000
11, 986,000
11,434,000
United
States
notes.
21.2
July
July
August
September
October
November
December
SUver
Gold
Gold coin. SUver coin. certiflcates. certificates.
143
TREASURER OF THE UNITED STATES.
N o , S^c—STATEMENT showing the M O N T H L Y B E C E I P T S from CUSTOMS, 4-0.Continued.
Months.
1886—January ..
February.
March
April
May . . . . . .
June
July
August...
September
October...
November
Total
receipts.
Gold
SUver
Gold coin. Silver coin. certificates.
certificates.
United
States
notes.
$10,929,000
11,704.000
12,512,000
10,442, 000
9, 029, 000
vll, 887, 000
Per cent
0.6
0.4
0.6
1.0
0.8
0.7
Per cent.
0.3
0.2
0.3
0.3
0.3
0.2
Per cent
53.3
43.3
31.5
20.2
12.2
4.8
Per cent
14.8
8.8
9.2
12.3
15.3
12.6
Per cent
31.0
47.3
58.4
66.2
71.4
81.7
66, 503, 000
0.7
0.3
27.5
12.2
>9.3
12, 606, 000
14,834,00012, 944, 000
II, 583,000
10,175,000
0.7
0.7
0.6
0.7
1.1
0.3
0.4
0.3
0.3
0.3
2.9
16,5
67.3
70.8
69.3
11.3
8.9
9.3
12.0
12.2
84.8
73.5
22.5
16. 2t
17.1
144
REPORT ON T H E FINANCES.
N o . S^,—STATEMENT shoiving theamountof GOLD COIN and BULLION in the
TBEASUBY, and of GOLD CEBTIFICATES OUTSTANDING, at the end of each
month from March, 1878.
Date.
' T o t a l gold
i n T r e a s u r y , coin
a n d buUion.
G o l d certificates
in t h e Treasu r y cash.
Gold certiflcates in circulation.
N e t gold i n
T r e a s u r y , coin
a n d bullion.
1878.
March 30
AprU 30
May 31
J u n e 30
J u l y 31
'August 31
September 30 —
October 31
November30 . . .
December 31
$120,106,317 17
120, 0,12, 781 64
122, 917,907 88
128, 460, 202 87
132,014,619 41
134, 548, 036 53
136, 036, 302 20
140,872,154 79
142,400,135 29
136,382, 639 42 .
$7,179,200
9,032, 660
31, 235,300
19,469, 320
18,170,420
20,794, 220
9, 392, 920
9, 901,520
- 9, 845,120
391, 420
$50,704,200
45,948, 840
21,246, 300
24,897,680
23, 852,980
17, 222,180
23,433,680
22,906,480
24,117, 780
21,189,280
$69,402,117 17
74,063,941 64
101,671,607 88
103, 662, 622 87
108,161, 639 41
117, 325, 856 53
112, 602,622 20
117, 965, 674 79
118,282, 355 29
114,193, 359 42
1879.
January 31
February 28
March31
AprU 30
May31
J u n e 30
July31
August 31
September 3 0 —
October 31
November 3 0 . . .
December 31
133,756,906 65
133,265,559 43
133,416,125 85
134, 520,140 48
136,680. 260 14
135,236, 474 62
135, 517,483 25
141, 546, 890 52
169, 606, 995 03
171, 517,713 65
160,443,430 80
157, 790, 321 84
544, 020
400, 220
50.740
62,140
33, 680
133,880
43, 800
120, 000
67, 700
213,400
183,740
740, 960
17,082,680
16,379,280
16,253, 960
15,710,460
15, 380,120
15,279,820
15,196,900
15, 008, 700
14,843,200
14, 377,600
13,195,460
11,696,140
116,674,226 65
116,886,279 43
117.162,166 85
118,809,680 48
121,300,140 14
119,956, 654 62
120,320, 583 25
126, 537, 690 52
154,763.795 03
157,140,113 65
147, 247,976 80
146,194,181 84
1880.
January 31
February 28
March 31 . . . . . . .
AprU 30
May31
J u n e 30
,
J u l y 31
A.ugust 31
September 30 . . .
. October 31
November 30 —
^ December 31
153, 690, 026 43
146,750, 758 04
144, 010, 551 50
138,783,440 08
. 128,709,496 51
126,145, 427 20
123,126,645 54
127,679, 279 45
135,244,833 65
140,725,952 74
151,362,519 38
156,742,095 77
61,100
327,300
611, 500
173, 800
39, 800
40,700
32, GOO
36, 800
31, 600
6,800
19,120
130, 500
10, 350, 000
9,755,300
8, 244,000
8, 056,800
8, 010, 300
7, 963, 900
7, 852, 000
7,661, IOO
7,480,100
7, 447, 700
7,381,380
6, 528, 380
,143,340,026 43
136,995,458 04
135, 766, 551 56
130,726, 640 08
120, 699,196 51
118,181, 527 20
115,274, 645 54
120,018,179 45
127,764,733 65
133, 278,252 74
143, 981,139 38
150, 213, 715 77
1881.
January 31
February 28
March 31
April 30
May 31 . .
June 30...
J u l y 31
August 31
September 30 —
October 31
November30 . . .
December 31 —
1.54, 544, 209 15
173, 038, 253 01
173,668,163 08
170, 319, 754 53
163^770,158 17
163,171,061 25
154,911,475 21
169,495, 521 94
174,361,344 62
172, 989, 829 17
178,225, 303 41
172, 617, 467 38
50,080
312,080
142,900
1,400
36,320
23,400
1,700
3,800
9,600
3,700
8,300
6, 491,400
,6, 229, 400
6, 028, 900
5,961,200
5, 876,280
5,759, 520
5, 748,120
5,397,120
5, 239, 320
5, 204, 220
5,199, 620
5,188,120
148,052,809 15
166,808, 853 01
167, 639, 263 08
164, 358. 554 53
157, 893, 878 17
157.412,141 25
149,163, 355 21
164,098,401 94
169,122, 024 52
167,785,609 17
173, 025, 683 41
167, 429, 347 38
7,900
15,800
159, 972, 56k 62
168, 585, 554 07
161,290,436 93
149,997,982 18
148, 932. 625 -28
143. 477, 369 95
140, 062, 590 31
144,311,880 69
147, 831,666 43
148,435,473 54
144,809,314 64
131, 989, 758 39
125,648,194 35
135,107,160 86
141,308, 203 90
139,439,241 T,
133,718,103 v!J
138, 271,197 68
142,705,435 16
149,625,435 33
:
'
—
1882.
January 31
Februa,ry28
March 31
AprU 30
Mfty31
J u n e 30
July 31
August 31
September 30 —
October 31
November 30 . . . .
December 31
165,152, 788 62
173,757, 874 07
166,457,350 93
155,069,102 18
153,985, 645 28
148, 506, 389 95
145,079,030 31
149,303,920 69
152,739,106 43
159, 805,743 64
164, 267, 584 64
171, 604, 568 39
14, 990,170
15, 950, 270
25,105, 030
• 5,180,220
5,172, 320.
5,166, 920
5,071,120
5, 052, 920
5,029, 020
5,016, 440
4, 992, 040
4, 907,440
11,370,270
19,458, 270
39, 514, 810
1883.
January 31
February 28
March 31 . . . . i . . .
AprU 30
May31
J u n e 30
July 31..
Augnst 31 . . . ^ . . .
173, 317, 834 35
177,661,6.30 86
184,7.52,713 OU
187, 837, 441 93
193,310,043 00
198,078, 567 68
202,774,035 16
204,172,975 33
25,107,300
32, 296, 270
31,525,210
;i2,93a,420
23, 869, 000
22, 671,270
23,383,440
28, 445, 200
47, 669, 640
42, 554,470
43,444,510
4 8, .398,200
59, 59), 940
59,807. 370
60,068, 600
54,547,540
i, 000
2,500
8,100
1,500
TREASURER OF THE UNITED STATES.
145
N o . S9.—STATEMENT showing the amount of GOLD COIN and BULLION in the
TBEASUBY and GOLD CEBTIFICATES OUTSTANDING, #c.—Continued.
Date.
Gold certiTotal gold
Gold certificates
ficates in circuin the Treasin Treasury, coin
ury cash.
lation.
and bullion.
1883
September 30
October 31
November 30
December 31
$206,130, 543
209,429,939
216,133,327
219,014,739
1884.
January 31
February 29
March 31
AprU 30 . . . i
May 31
J u n e 30
J u l y 31
August 30
September 30
October 31
November 30
December 31
10
90
64
63
Net gold in
Treasury, coin
and bullion.
$27, 480, 300
31, 252,760
27,036, 300
27,446,780
$55, 014, 940
52,076.180
58, 897,620
63, 585,140
221, 813,356 49
221,881,633 11
211,071,606 97
196, 325,625 72
201,132,388 01
204,876,694 15
210, 639,550 98
214,483,657 17
^ 217,904,042 81
222,536,360 43
231, 389,360 85
234, 975,861 95
23,788, 000
30,600,070
35,424,250
44,415, 395
39,686,780
27,246,020
26, 625,830
29.701, 980
33.546,960
32, 477,750
26,701, 060
26, 343,730
77.462, 620
77,843,430
68,812,150
56,700,805
59,125,480
71,146, 640
91,491,490
92, 017,940
87, 389,660
87,865,570
93,374,290
93,287,420
144,350,736 49
144,038,203 11
142,259,356 97
139,624,820 72
142,006,908 or 133,729,954 15
119,048,060 98
122,465,717 17
130, 514,382 81
134,670,790 43
138,015,070 85
141, 688,431 95
1885.
January 31
,
February 28
March 31
AprU 30
May 31
....,
J u n e 30
J u l y 31
,
August 31
September 30
October 31
November 30
December 31
237,167,975 84
240,029,843 24
241,440,796 37
243,162,194 81
244,363,643 69
247,028,626 25
249,367,695 20
250,257,417 89
251,251,114 54
261, 359,349 29
251,945,578 13
253, 351,409 48
22,299,150
40,426,930
37,689,990
28, 625,290
14,371,350
13,593,410
17,322,320
16,606,230
22,249,240
31,115,850
34,492,968
34,350,479
111, 980,380
112,683,290
116, 967, 640
125,234. 800
128, 553,010
126,729,730
123, 289,000
123,885.490
118,137,790
109,020,760
105.554,092
105,359,601
125,187,595 84
127,346,653 24
125,473,256 37
117,927,394 81
115,810,533 69
120,298,895 25
126,078,595 20
126,371 927 89
133,113,324 64
142,338,689 29
146,391,486 13
147,991,808 48
1886.
January 31
February 28 . . . . . .
March 31
.,
AprU 30
May 31
J u n e 30
,
J u l y 31
August 31
September 30
October 31
November 30
251,371,561
249,801,087
242,155,167
240,580,532
236,424,734
232, 838,123
233,651,522
235,430,635
242,609,018
246,832,148
254, 450,853
24,060,709
33, 671, 010
46,797,927
52.396, 875
61, 735, 670
56,129,870
52,258.360
48,693, 980
40,654, 320
36,878,468
34,469,694
115, 284, 951
105,637, 050
90,775, 643
84,715, 225
80,120, 025
76,044, 375
74,718, 617
77,698,347
84, 691,807
88,294.969
90, 520, 633
136,086,610 58
144,164,037 63
151,379,624 40
165, 865,307 67
156, 304,709 21
156,793,748 91
158, 933,005 45
157,732,288 24
167,917,211 37
158, 537,179.40
163, 930,220 57
H. Ex. 2-
-10
68
63
40
67
21
91
45
24
37
40
67
$161,115,603 10
157,353,759 90
157,235,707 -64
155,429,599 63
!146
REPORT ON T H E
FINANCES.
N o . 4.O.—STATEMENT shoiving the AMOUNT of STANDABD SILVEB DOLLABS
COINED, in the TBEASUBY, and in CIBCULATION, and of SILVEB CEBTIFICATES OUTSTANDING, at the end ofeach month from March, 1878.
9
Date.
1878.
M a r c b 31
A p r U 30
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30 . . .
O c t o b e r 31
N o v e m b e r 30 . .
D e c e m b e r 31 —
SUver
Standard
Standard
s i l v e r d o l l a r s cerlificates
silver dollars
in the Treasi
n
t
h
e
coined.
u r y cash.
Treasury.
$1, 001, 500
3,471,500
6,486, 500
8, 573, 500
10,420, 500
13, 448. 500
16,212, 500
18, 282, 500
20, 438, 550
22,495, 550
$810, 561
3,169, 681
5, 950,451
7, 718, 357
9, 550, 236
11, 292, 849
12,155, 205
13, 397, 571
14, 843, 219
16, 704, 829
$3i4, 710
1,455, 520
2, 647, 940
4,424, 600
1,316,470
2, 639, 560
1, 907, 460
2, 082, 770
24, 555, 750
26, 687, 750
28,774, 950
31.155, 950
33, 485, 950
35, 801, 000
37, 451. 000
40, 238, 050
42, 634.100
45,206, 200
47, 705,200
50, 055, 650
17, 874,457
19, 505, 767
21, 558, 894
23, 694, 563
26,181, 045
28,147, 351
29,151, 801
30, 678,464
31, 559, 870
32, 322, 634
32, 839, 207
33,168, 064
2,170, 840
1, 976, 320
2, 074, 830
1, 779, 340
1, 922, 820
2, 052,470
2, 014, 680
1, 976, C-60
3, 045,130
4, 531, 479
5,173,188
4, 888, 658
52, 505, 650
54, 806, 050
67.156, 250
59,456, 250
61, 723, 250
63, 734, 750
66, 014,750
68, 267, 750
70,568,750
72, 847, 750
75,147, 750
77, 453, 005
34,961,611
36,972,093
38, 780, 342
40, 411, 673
42,778,190
44, 425, 315
46, 192, 791
47, 495, 063
47, 654, 675
47, 084, 450
47, 397, 453
48,190, 518
79, 753, 005
82, 060, 005
84, 359, 505
86, 659, 505
88, 959, 505
91, 372, 705
93, 622,705
95, 922, 705
98, 322, 705
100,672,705
102, 972, 705
105, 380, 980
107, 680, 980
109, 981,180
112, 281, 680
114, 581, 680
116, 843, 680
119,144, 780
121, 304, 780
123, 729, 780
126,029. 880
128, 329, 880
130, 629, 880
132, 955, 080
Silver
certificates
i n circulation.
Net
standard
silver dollars
Standard
i n T r e a s u r y silver dollars
after
i
n circuladeducting
tion.
s i l v e r certificates in
circulation.
1, 709, 280
711, 600
68, 790
366, 060
. 413, 360
$810,561
3,106, 681
5, 923,121
7,711,277
9, 550, 236
9, 583, 569
11,443,605
13, 328, 781
14,477,159
16, 291, 469
$190, 939
301 819536^ 049
855,143
870 264
' 2.155^651
4,057, 295
4, 884, 929
5, 595, 331
5,790,721
400, 340
331, 860
251, 700
197, 680
444,140
414,480
. 771,170
1, 304, 890
1,176, 720
1, 604, 371
1, 894, 722
3,824,252
17, 474,117
19,173,907
21, 307,194
23, 496, 883
25,736, 905
27, 732, 871
28, 380, 631
29,378,574.
30, 383,150
30,718,263
30, 944,485
29, 343,812
6, 681, 293
7,181, 983
7, 216,056.
7,461, 387
7, 304, 905
7, 653, 649
8, 299,199'
9, 559, 586
11, 074, 230'
12, 883, 5.66
14, 865, 993
16, 887, 586
5, 063, 456
4, 797, 314
5, 611, 914
5,428, 354
6,322,^31
6, 584,701
5, 758, 331
5, 518, 821
6, 318,769
7, 333,719
8, 572, 294
9,454,419
3, 989,454
4, 572, 606
6, 017, 006
6, 615, 366
6, 051, 539
5, 789, 569
6, 930, 959
7,619,219
12, 203,191
19, 780, 241
26, 504, 986
36,127,711
30, 972,157
32,399,487
32, 763, 336
33, 796, 307
36, 726, 651
38,635,746
39, 261, 832
39, 875, 844
35, 451.484
27, 304, 209
20, 892,467
12, 062, 807
17, 544, 039'
17,833,957
18, 375, 908
19, 044, 577
18,945, 060;
19, 309,435
19, 821, 959
20,772, 687
22, 914, 075
25, 763, 300
27, 750, 297
29,262,487
50, 235,102
52, 939,460
55,176,158
58, 044, 826
60, 518, 273
62, 544, 722
64,246, 302
65, 918, 344
66, 092, 667
66, 576, 378
68,017,452
69, 589, 937
9, 985, 583
10,856,463
10, 733, 085
11, 522, 208
11, 988, 710
12, 055, 801
11,181,-088
11, 516, 432
11,559,730
7, 4H8, 900
7, 089, 880
6, 359, 910
36, 814, 637
37, 027,797
39,445, 815
39,157, 932
38, 784, 540
39,110, 729
40, 802, 892
46, 061, 878
52, 590,180
58, 838,770
59, 573, 950
62, 315, 320
13, 420,465
15, 911, 663
15, 730, 343
18, 886, 894
21,733, 733
23,433, 993
23.443, 410
19,. 886, 466
13, 502,487
7, 737, 608
8,443, 502
7, 274, 617
29, 517, 903
29,120, 54529.183, 347
28, 614, 67928, 441, 232
28, 827, 983
29, 376, 403:
29, 974, 361
32,230, 038
34, 096, 327
34, 955, 2.53
35.791, 043
72, 421, 584
75,138, 957
78,178, 583
81, 595, 056
84, 606, 043
87,153, 816
88, 840, 899
91,166, 249
92, 228, 649
92, 414, 977
92, 940, 582
94, 016, 842
7^462,130
8, 549,470
8,931,930
8, 872, 790
10, 509,160
11,590,620
1.2, 361, 490
11,700,330
8,364,430
7, 987, 260
5, 752, 970
4,405,'OGO
61, 537, 540
60,125, 010
59, 423, 440
•' 58,908,570
57, 227, 060
54, 506, 090
54,757,720
57, 739, 880
63, 204, 780
65,620,450
67,342,690
68,443,660
10, 884, 044
15, 013, 947
18, 755,143
22, 686, 486
27, 378, 983
32, 647, 726
34, 083,179
33, 426, 369
29,023,869
26,794,527
25,597,892
25, 573,182
35, 259, 396
34, 842,223
34,103, 097
32, 986, 624
32, 237, 637
3i, 990, 964
32,463, 881
32, 563, 531
33,801,231
35, 914, 903
37, 689, 298
38, 938, 238
$63,000
27,330
7,080
1879.
J a n u a r y 31
F e b r u a r y 28 . . . .
M a r c h 31
A p r U 30
M a v 31
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30 . . .
O c t o b e r 31
November30 . . .
D e c e m b e r 31 . . .
0
1880.
J a n u a r y 31
F e b r u a r y 29 . . . .
M a r c h 31
A p r i l 30
M a y 31
J u n e 30
J u l y 31
..
A u g u s t 30
S e p t e m b e r 30 . . .
O c t o b e r 31
N o v e m b e r 30 . . .
D e c e m b e r 31 —
1881.
J a n u a r y 31
F e b r u a r y 28
M a r c h 31
A p r i l 30
M a y 31
J u n e 30
J u l y Sl
A u g u s t 31
S e p t e m b e r 30 . . .
O c t o b e r 31
N o v e m b e r 30 . . .
D e c e m b e r 31 . . .1
1882.
J a n u a r y 31
F e b r u a r y 28 . . . .
M a r c h 31
A p r U 30
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
Sep'tember 30 . . .
O c t o b e r 31
November30 ...
D e c e m b e r 31 —
1
147
TREASURER OF THE UNITED STATES.
N o . 4L^.—STATEMENT showing the AMOUNT of STANDABD SILVEB DOLLABS
COINED, 4'c.—Continued.
Net
standard
silver dollars
Standard
in Treasury
s i l v e r dollar®,
after
i
n
circuladeducting
tion.
s i l v e r certificates in
circulation.
Standard
Standard
silverdollars
sUver d o l l a r s
iu t h e
coined.
Treasury.
S i l v e r certificates
in t h e Treasu r y cash.
$97, 530, 969
100, 261, 444
103, 482, 305
106, 366, 348
108, 898, 977
111,914,019
113, 057, 052
114,320,197
114, 587, 372
116, 036, 450
117, 768, 966
119, 449, 385
$4, 306, 650
5, 268, 550
• 6,865,340
8, 887, 260
8, 305, 940
15, 996,145
15, 542, 730
1.7, 276, 820
1.5, 568, 280
14,244,760
13, 806, 610
13,180, 890
123, 474, 748
126, 822, 399
129, 006,101
130, 314, 065
132, 626, 753
135, 560, 916
137,692,119
140, 615, 722
142, 058, 787
142,926, 725
144, 745, 075
146, 502, 865
13,179, 020
13, 890,100
20, 488, 585
20, 876, 250
19, 936, 620
23, 384, 680
25, 265, 980
26, 903, 230
26,769, 470
30, 814, 970
28, 951, 590
23, 302, 380
96, 958, 031 ' 26,516,717
96, 247, 721
30, 574,678
95, 919, 576
33, 086, 525
95,497,981
34, 816, 084
97, 363, 471
35, 263, 282
96,427, Oil
39,133,905
95,138, 361
42, 553, 758
46,387,031
94, 228, 691
•45, 567, 536
96,491,251
42,185,164
100, 741, 561
39, 756,544
104, 988, 531
114, 865, 911
31, 636, 954
1885.
150,632,154
J a n u a r y 31
191, 947,194
F e b r u a r y 28
153, 561, 007
194, 247,194
196, 697, 394 . 156,698,482
M a r c h 31
199,107, 394
A p r i l 30
159,441, 034
201, 509, 231
M a y 31
162, 244, 855
203, 884, 381
165,413,112
J u n e 30
205, 784,381
166, 499, 948
J u l y 31
^ 208,259,381
166, 854, 215
A u g u s t 31 . .
165,483,721 •
S e p t e m b e r 30 . . . 210, 759, 431
213,259,431
O c t o b e r 31
163, 817, 342
165, 568, 018
N o v e m b e r 30 . . . 215,759, 431
218, 259, 761
165, 718,190
D e c e m b e r 31
27,337,890
29,951,880
30, 861, 615
32,141,140
35, 575, 590
38, 370, 700
40, 340, 980
42,712, 890
31, 722, 990
31, 906, 514
32,034,464
31,164,311
113, 858, 811
111,467,951
112, 820, 226
109,443,946
105, 085,186
101, 530, 946
98, 872,106
96, 079, 296
-93,656,716
93,146, 772
92,702, 642
93,179.465
36, 773, 343
42, 093, 056
43, 878, 256
49, 997, 088
57,159, 669
63, 882,166
67, 627, 842
70, 774, 919
71,827,005
70, 670, 570
72,865,376
72, 538,725
1886.
J a n u a r y 31
F e b r u a r y 28 . . . .
M a r c h 31
A p r U 30
M a y 31
J u n e 30
J u l v 31
A u g u s t 31
S e p t e r a b e r 30 . . .
O c t o b e r 31
Noveinber 3 0 . . . .
33, 978,767
34, 837, 660
32,410,575
31,141, 055
30,411,016
27, 861, 450
27, 728, 858
25, 571, 492
22, 555, 990
17, 562, 302
14,137,185
89, 761, 609
88, 390, 816
90,122, 421
90, 733,141
89,184,129
88,116,225
87, 564, 044
89, 021, 760
95, 387,112
100, 306, 800
105, 519, 817
79, 321, 776
83, 415, 090
84,578, 564
85,195, 361
89, 067, 916
93,137, 341
93, 959, 880
92, 747, 697
85,875, 481
82, 624,431
79, 392,121
Date.
S i l v e r certificates i n
circulation.
1883.
$135,405, 080
J a n u a r y 31
F e b r u a r y 28 — 137, 805, 080
140, 205, 699
M a r c h 31
142, 555, 699
A p r U 30
M a y 31
. . . . . 144, 905, 699
147, 255, 899
J u n e 30
, 149, 680, 899
July31
152, 030, 899
A u g u s t 31
S e p t e m b e r 3 0 . . . . 154, 370, 899
156, 720, 949.
O c t o b e r 31
159, 070, 949
N o v e m b e r 30
161,425,119
D e c e m b e r 31
$68,438, 820
68,027,420
70, 759, 991
71, 884, 071
71, 727, 391
72, 620, 686
73, 728, 681
75, 375,161
78, 921, 961
85, 334, 381
87, 976. 201
96,717,721
$29,092,149
32,234, 024
32, 722, 314
34, 482,277
•37,171,586
39, 293, 333
39, 328, 371
H 38,945,036
35,665,4.11
30, 702, 069
29, 792, 765
22, 731,664
$37, 874, 111
37, 543, 636
36, 723, 394
36,189, 351
36, 006, 722
35, 341, 880
36, 623, 847
37, 700, 702
39, 783, 527
40,684, 499
41,301, 983
41, 975, 734
.
1884.
J a n u a r y 31
F e b r u a r y 29 —
M a r c h 31
A p r U 30
M a y 31
'.
J u n e 30
...
J u l y 31
A u g u s t 31
S e p t e m b e r 30 . . .
O c t o b e r 31 . . . . . .
N o v e m b e r 30 . . .
D e c e m b e r 31
163, 775,119
166,125,119
168,425, 629
170, 725, 629
173, 035, 629
175, 355, 829
177, 680, 829
180, 030, 829
182, 380, 829
184, 730, 829
187,180,829
189, 561, 994
220, 553, 761
223,145, 761
225, 959, 761
228, 434,121
231,160,121
233, 723, 286
235, 644,286
238, 462, 286
241, 070, 286
243,849,386
246, 673, 386
169, 083, 385
171, 805, 906
174, 700, 985
175, 928, 502"
178, 252, 045
181, 253, 566
181,1523,924
181,769,457
181, 262, 593
182, 931, 231
184, 911, 938
40, 300, 371
39, 302, 720^
39,419, 52a
40,411, 564
40,408, 876'
39, 794, 913
39, 988, 710
39, 415,107
40, 322, 04241, 804,104
42,435,754i
43,059,129'
.
41,315, 04040,686,187
39, 998, 9 1 ^
39,666,360
39, 264, 376
38, 471, 269
39, 284,433
41, 405,166
45, 275,710
49,442,089
50,191,413
52, 541, 671
51,470, 376
51,339,855
51,258,776
52, 505, 619
52, 908, 076
52,469, 720
54,120, 362
56, 692, 829
59, 807, 693
60, 918,155
61,761, 448
n o . 4 1 . - aOWAGM, MOrMMmf, and E X P m S l ^ of Mori)ME2rf of ^ t A i r t y A m S i L t m DOLLAM lylquarters, io Septemher 30, 1886.
Coinage
during the
quarter.
Quarter ending—
1878—March 31
$1,001, 600
7, 672,000
S e p t e m b e r 30
7, 639, 000
6, 283,050
1879 M a r c h 31
6, 279,400
7, 026,050
S e p t e m b e r 30
6,833,100
7,421,550
7,100, 600
6, 578. 500
S e p t e m b e r 30
.
6, 834, 000
6, 884, 256
1881—March 31
N 6,906,500'
J u n e 30
7, 013, 200
S e p t e m b e r 30
6, 950, 000
7, 058, 275
6, 900, 700
6, 863,100
S e p t e m b e r 30
6, 885,100
6, 925, 200
1883 M a r c h 31
7, 250,619
J u n e 30
7,050, 200
September 3 0 . . . . . .
7,116,000
7, 064, 220
7, 000,610
6, 930,200
September30......
7,025,000
7,181,165
1885—March 31
7,135,400
J u n e 30
' 7,186,987
September 30..
6,876,050
7, 500, 330
1886—March 31
7, 800, 360
7, 663,165
7,347, OOO
Totals
.
-
241,070,286
Total
coinage to
e n d of e a c h
quarter.
Amount
moved out
at expense
of t h e G o v emment.
$570,939
$1,001, 500
6,468,122
8, 573, 600
8,642, 540
16,212,500
8,269,319
22,495,550
4,829,295
28,774, 950
10,878, 058
35,801, 000
7,639. 033
42,634,100
9,927,739
60, 065,650
6,236, 378
57,166,250
7,776,6*49
63,734,750
9,993,817
70,668,750
11.094. 984
77,453, 006
6,086, 738
84,359, 506
6, 612, 802
91,372,705
8, 233. 796
98, 322,705
10,114,981
105, 380,980
5,296.132
112,281, 680
4,332, 536
119,144,780
8,884,766
126, 029, 880
18,491, 704
132,955,080
10,909, 534
140, 205, 699
10,121, 889
147,256,899
14,945, 567
154, 370,899
161,425,119 - 13,711,358
10, 626, 842
168,425,629
14,676, 051
176, 365,829
182,380,829
12,894,001
. 189, 561, 994
15,865, 361
196, 697, 394
12,100, 366
203,884,381
9, 869, 868
210,759,431
28,932, 664
39,758,456
218,259,761
226,060,121
9, 912,681
233,723,286
14, 397, 268
16,822,783
241,070,286
394,923,917
Expense
Amount
Expense
of m o v e m e n t p e r $1,000 m o v e d i n t o
Treasury.
moved.
out.
$2,100 70
15.625 23
18,884 37
70,376 43
23,216 84
.5,516 14
. 12, 643 38
24, 633 05
9,995 88
11,856 0 2 '
21,433 28
29,062 23
9,415 21
11,436 12
21,278 34
22,727 72
9,364 29
11,432 46
20,781 61
20,031 60
13,707 87
11,284 14
18.794 75
18,784 99
9,200 89
15,768 83
14,061 98
20,914 33
11,296 50
23,922 00
17,861 59
167,268 87
23,136 16
18,685 33
18,369 90
774,758 92
$3
2
2
8
4
5
1
2
1
1
2
2
1
1
2
2
1
2
2
1
1
1
1
1
1
,1
1
2
4
2
1
1
$380,000
68
5,803,918
42
6, 440,388
18
6, 535,893
51
3,403,960
81
10,440,465
08
4,218,452
64
4,114,383
48
4, 748,056
60
6, 842,122
62
6, 389,177
15
62 - 4,746, 572
5,165,878
85
6, 968,166
73
4,831,741
68
6, 553,976
25
6, 984,078
77
6, 444, 669
64
34
7, 074,499
08
13, 354,697
25
13,124,378
11
11, 603,403
26
10,603,920
37
11, 619,161
13,183, 048 87
14,300,666
07
12,366,872
09
13,128,274 .
32
15,160,583
93
11, 397,311
42
22,128,323
62
32,432,695
21
11,095,116
23
13,286,684
29
09
9 , 4,810
1 96
335,116, 224
N e t movement.
Out.
$190, 939
664,204
3,202,152
1,733,426
1,425, 335
437, 593
3, 420, 581
5,813,356
1, 488, 322
933, 527
3, 604,640
6, 348,. 412
In.
V
$79,140
355, 364
3,402,055
3, 561, 005
1, 687, 946
2,112,133
1, 810,267
5,137,007
2, 214,844
1, 381, 614
4,441,647
2,192,207
2,556,206
375,385
527,129
2,737,087
3, 060,217
1,627,443
6,804,241
7,265,861
1.182,435
1,110,684
7,337,973
75,964,935
16,157,242
^
oo
Expense
E x p e n s e of
Amount in
c i r c u l a t i o n a t m o v e m e n t t o $1,000 i n
e n d of e a c h e n d of e a c h circulaquarter.
quarter.
tion.
$190,939
855,143
4, 057, 295
5. 790,721
7,216,056
7, 653, 649
11,074, 230
16, 887, 586
18, 375, 908
19.309,435
22, 914,075
29,262,487
29,183, 347
28, 827, 983
32, 230,038
35,791,043
34,103,097
31,990,964
33, 801,231
. 38, 938, 238
36,723, 394
35, 341,880
39,783, 627
41, 975,734
39,419, 528
39, 794,913
40,322,042
43,059,129
39,998, 912
38,471,469
45,275,710
62,641, 671
61, 359,136
52,469,720
59,807,693
$2,100
17,725
36, 610
106,986
130, 203
135,719
148,263
172, 896
182, 892
194,748
216,181
245, 243
254,658
266, 094
287, 373
310,100
319,465
330,897
351, 679
371,710
385,418
396, 702
415,497
434, 282
443,483
459, 252
473,314
494, 228
505, 525
629, 447
647, 308
714, 577
737,713
766, 399
774,758
70
93
30
73
57
71
09
14
02
04
32
65
76
88
22
94
23
68
19
79
66
80
55
64
43
26
24
57
07
07
66
63
69
02
92
$11
20
9
18
18
17
13
10
9
10
9
8
8
9
8
8
9
10
10
9
10
11
10
10
11
11
11
11
12
13
12
13
14
14
12
02
73
02
47
03
73
39
24
95
09
43
38
73
23
92
66
37
34
40
55
50
22
44
35
25
54
74
48
64
76
09
60
36
42
95
•^
O
o
w
o
Ul
N o . ' ^ 2 . - S H I P M E N T S of SILVEB COIN since June ZO, 1885,/row TREASURY OFFICES and MINTS, the CHARGES thereon for TBANSPOBTATION, and the A VEBAGE COST per |1,000.
FROM TREASURY OFFICES EAST OF
THE ROCKY MOUNTAINS.
Month
Amount
shipped for
which
biUs have
been rendered.
Charges
thereon.
Average
charge per
$1,000.
FROM SUB TBEASURY AT BAN FRANCISCO.
FBOM MINTS.
Amount
shipped.
Charges
thereon.
Average ofAmount
shipment
charge
per biUs
per $1,000. as
rendered.
Charges
thereon.
Average
charge.
per $1,000.
TOTAL.
Amoimt
shipped.
Charges
thereon.
Average
charge
per $1,000.
Ul
CJ
1885.
Jnly
August
September
October
November
December
1886.
January
February..
March
AprU
May
June . . . . . . . . . . . .
July
August
September
Total
...
$988, 976 42
1, 923,408 42
2,675,840 46
2, 823,454 39
2, 725, 354 72
2, 254,916 90
$1,443 30
2, 543 66
3, 868 65
4,158 33
4, 039 69
3, 035 12
696,986 47
1,044,975 15
1, 596,478 64
1, 487,481 49
1, 566,480 89
2, 020, 755 86
2, 332, 976 30
2, 663, 975 84
3, 229, 473 21
972 00
1, 289 65
1, 984 21
1, 971 20
2, 007 69
2,461 26
3,031 26
3,163 00
4, 566 07
29, 921, 535 16
40, 535 09
$146
1 32
1 45
1 47
1 48
1 36
1
1
1
1
1
1
1
1
1
$1,411,986 00 $11,633 49
541, 996 30
1,057 69
1, 330, 498 82
2,458 11
2,088,494 70
4,409 26
663, 993 67
1,765 18
1, 274,988 10
2, 669 62
$8
1
1
2
2
2
24
95
85
11
66
09
$26.000 00
213, 500 00
249,000 0«
70,500 00.
25, 500 00
30, 500 00
$160 10
1,179 45
1,487 70
431 35
148 45
144 40
$6
5
5
6
5
4
16
62
97
12
82
73
$2,426,962 42 $13,236 89
4,780 80
2, 678,904 72
7, 814 46
4,255,339 28
4, 982,449 09
8, 998 94
3,414,848 29
6,953 32
5,849 14
3. 560,405 00
39
465,495 00
23
423.497 30
24
671,493 05
32
741, 996 45
28
541,493 85
22
717,493 95
30
713,195 96
24 1,353,490 10
41 1,584,488 50
994 62
1,212 32
1,798 18
1, 841 48
1,529 86
2,159 87
2,488 14
2, 951 08
3, 092 10
2 18
2 86
2 68
2 48
2 82
3 01
3 49
2 18
.1 95
9, 500 00
26,000 00
42, 000 00
26. 500 00
31, 000 00
45,000 00
64,000 00
70,000 00
213,500 00
54 75
144 20
233 30
131 45
147 65
245 85
299 05
335 70
1,215 00
5 76
5 64
6 55
4 96
4 76
5 46
5 54
4 79
5 69
1 35 14,514,601 64
42, 061 00
2 90
1,132, 500 00
6,358 40
5 61 45, 668, 636 80
1,161,981 47
1, 494, 472 45
2,309, 971 69
2, 255, 977 94
2.138, 974 74
2,783, 249 81
3,100,172 25
3,977,466 94
5,027,461 71
2, 021 37
2,646 17
4, 015 69
3,944 13
3,685 20
4,866 98
5,818 45
6,449.78
8,873 17
88,954 49
$6
1
1
2
1
1
45
78
84
01
74
64
1 74
1 77
1 74
1 76
1 82
1 75
1 88
1 62
176
1 96
-w
o
d
o
Ul
H
Ul
150
REPORT
ON T H E
FINANCES.
N o * ^ S . — S H I P M E N T S of S I L V E B COIN from TBEASUBY OFFICES and M I N T S
from July 1, 1885, to Septemher 30, 1886, inclusive, as per their reports to this office.
Offices.
Washington...-.
Baltimore
New York
Philadelphia
Boston
Cincinnati
Chicago
Saint Louis
New Orleans
Total
San Francisco
Mint, PhUadelphia
Mint, New Orleans
Mint, San Francisco
Total
Total of shipments
Standard
dollars.
Fractional
silver.
$724,299 62
201,000 00
6, 379, 573 12
17, 000 00
3,429,053 63
2, 809, 569 77
4, 693,770 60
2, 977, 612 64
1, 583,000 00
$272, 838 37
424, 494 40
1, 501,304 07
1,123, 658 69
840, 471 81
912, 380 98
1, 691,198 30
918, 333 22
565, 498 40
21, 814, 879 38
8, 250,178 14
121,150 00
Total.
$997, 137
625, 494
6, 880,877
1,140, 658
4, 269,625
3, 721,950
6, 384,968
3,895, 945
2,148, 498
99
40
19
59
44
75
90
86
40
30, 065,057 52
1, 016, 390 00
1,137, 540 00
4,093.806 44
6,459, 495 87
3,415, 500 00
419, 300 00
4, 613,106 44
6, 459,495 87
3,418, 500 00
13,968,802 31
422,300 00
14, 391,102 31
35,904,831 69
9,688,868 14
45,593,699 83
666'66"
TREASURER OF THE UNITED
STATES
1511
N o . 4L4i.—STATEMENT showing the amomit of FBACTIONAL SILVEB COIN I N
T H E TBEASUBY at the end of each month from May, 1879.
Date.
Date.
Amount.
1879.
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
Sept.ember 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
$6,813, 589
8,903, 401
12,731, 765
15, 236, 724
16,814, 308
17,755, 986
18,432, 478
18, 881, 629
32
36
97
48
94
76
13
15
20, 204, 809
21,179, 312
21, 989, 814
22, 767, 672
23, 577, 091
24, 350, 481
24, 975, 713
26,152, 971
24,799, 925
24, 629, 489
24, 053, 530
24,769, 057
83
32
48
95
99
80
52
89
40
89
37
32
25,490, 914
25,813, 058
26, 283, 891
26,493, 612
26,841, 956
27,247. 696
27, 295, 486
.27,042, 806
26, 313, 113
25, 984, 687
25,918, 252
25,963, 641
88
08
96
56
74
93
63
63
63
76
00
48
26, 567, 873
26, 896, 906
27,187, 680
27, 439, 183
27,755, 923
28, 048, 630
28,153, 956
27, 990, 387
27, 426, 139
26,749, 432
26, 544, 544
26, 521, 692
37
26
67
93
33
58
16
75
93
45
43
20
1880.
J a n u a r y 31
F e b r u a ' r y 29
March3i
A p r i l 30
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
1881.
J a n u a r y 31
F e b r u a r y 28
M a r c h 31
A p r U 30
M a y 31
J u n e 30
Jul.\ 31
A u g u s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
J a n u a r y 31
F e b r u a r y 28
M a r c h 31
A p r U 30
M a y 31
J u n e 30
July31
A i i g n s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
1883.
...
Amount.
$27,135. 244
27, 507, 275
27, 865, 993
28, 008, 628
28, 303, 196
28,486, 001
28, 058, 141
27, 819, 711
26, 750, 161
26, 712, 424
26, 969, 614
27, 224, 126
74
78
79
88'
20
05
67
70
13
15
40
33
1884.
J a n u a r y 31
F e b r u a r y 29
M a r c h 31
A pril 30
May31
Jurie 30
J u l y 31
A u g u s t 31
....
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
December 3 1 . .
28,014, 414 76
28,490, 906 91
28, 866,556 33
29,158, 480 47
29. 377.206 41
29, 600,720 05
29, 797,485 76
29,659, 003 38
29,474, 160 89
29, 346,757 24
29,143, 283 48
29,194, 355 52
1885.
J a n u a r y 31
F e b r u a r y 28
M a r c h 31
A p r U 30 . :
May3I
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
29, 901,104
30, 244,836
30,632, 326
30, 944,048
31, 694,364
31, 236,899
25, 355,020
24. 724,287
23, 641,893
22, 965,535
27, 920,309
27,796, 430
54
12
20
81
80
49
23
43
79
70
44
88
29, 013,993
28,811, 037
28, 822,637
28,864, 482
28,912, 277
28, 904,681
28, 584,624
27, 956,991
26, 899,745
26, 300,335
25, 808,067
71
49
63
89
14
66
69
95
20
88
32
1882.
J a n u a r y 31
F e b r u a r y 28
M a r c h 31
A p r U 30
M a v 31
J u r i e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
....
1886.
J a n u a r y 31
F e b r u a ' r y 28
MarchSi
April30
M a y 31
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30
O c t o b e r 31
N o v e m b e r 30.
N o . ^5.—BECAPITULATION of the PUBLIC DEBT STATEMENH'for the years mamed, in conformity with the form puhlished since July 1,1885.IN3
J u n e 30,1878.
J u n e 30,1879.
J u n e 30,1880.
J u n e B$, 1881.
J u n e 30,1882.
J u n e 30, 1883.
J u n e 30, 1884.
J u n e 30, 1885. ' J u n e 30,1886.
P u b l i c deht.
Interest-bearing debt—
Principal
$1,859,359,162 00 $1,966,339,622
Interest
30,664,288
38,016,309 41
M a t u r e d debt—
Principal
37, 015,630
5,594,560 26
Interest
2,066,768
326, 947 32
D e b t bearing no interest—
Old d e m a n d n o t e s
61,470
62,297^50
Legalrtender notes
346, 681, 016 00 346, 681,016
Currency certificates..
28, 920,000
46,295, 000 00
Gold certificates
15, 279,820
24,757, 680 CO
Silver certificates
414, 480
3, 040 00
Fractional currency...
15, 842, 605
16,547, 768 77
Total debt
C a s h i n the T r e a s u r y .
A v a i l a b l e for r e d u c t i o n of
t h e public debt—
G o l d h e l d for gold certificates actually outstanding
S i l v e r h e l d for s i l v e r
certificates actuaUy
outstanding
U . S. n o t e s h e l d for curr e n c y c e r t i f i c a t e s actually outstanding
U . S. n o t e s h e l d for r e d e m p t i o n of f r a c t i o n a l
currency
C a s h h e l d for m a t u r e d
d e b t a n d i n t e r e s t accrued and unpaid
Fractional currency.."..
C a s h h e l d for b o n d s
caUed, n o t m a t u r e d . . .
T o t a l a v a U a b l e for reduction o f t h e debt.
K e s e r v e f u n d h e l d for red e m p t i o n of XJ. S. n o t e s ,
a c t s J a n u a r y 14,1875, a n d
J u l y 12,1882
00 $1,788,616,612 00 $1,704,iyi,2«2 00 $1,628,433,912 00 $1,402,852,662 00 $1,291,187,362 00 $1,260,774,462 00 $1,210,637,612 00
12, 860, 514 88
13, 886, 662 95
13,108,451 71
12, 925, 629 09
22,168,677 03
23,969,808 94
43
15, 299, 209 99
26
27
00
00
00
00
00
78
7,621,455 26
814,444 01
60,975
346,681,016
14,105,000
7, 963,900
5, 789, 569
*7, 214, 954
00
00
00
00
00
37
6,723,865 26
718,686 08
&i, 635
346,681,016
11, 650,000
5, 759,620
39,110,729
7,105,953
00
00
00
00
00
32
2, 337,643, 781 26 2, 443, 285,700 74 2, 202, 837,734 58 2,144,170,243 (
16, 260,805 26
535, 251 84
346,
13,
5,
64,
7,
59, 695
681, 016
245, 000
029, 020
506, 090
047, 247
7,831.415 26
366, 824 74
58, 985
00
00 346, 681, 016
13, 060, 000
00
00 - 59, 807, 370
72, 620, 686
00
7, 000, 690
77
00
00
00
00
00
81
19,656, 205 26
347,214 -"^
58,440
346, 681, 016
12,190, 000
71,146, 640
96,427,011
6, 980,061
00
00
00
00
00
31
4,100, 995 26
227,199 52
67, 950
346, 6M, 016
29, 585, 000
126,.729, 730
101,530, 946
6,964,175
00
00
00
00
00
88
9,704,445 26
224,020 42
67,445
346,681,016
18,260,000
76,044, 376
88,116,225
6, 954,087
00
00
00
00
00
62
1,987, 097, 247 86 1, 924,166,312 76 1, 857,782,401 34 1,889, 577,103 75 1, 769, 529,741 08
Pi
o
w
H
O
H
W
24, 757, 680 00
15, 279, 820 00
. 7, 963, 900 00
6 , 7 ^ , 5 2 0 00
5, 029, 020 00
59,807,370 00
71,146,640 00
126,729,730 00
76,044,375 00
3, 040 00
414, 480 00
6,789,569 00
39,110,729 00
64,606,090 00
72, 620,686 00
96,427,011 00
101,530,946 00
88,116,225 00
46, 295, 000 00
28, 920, 000 00
14,106, 000 00
11,650,000 00
13,245,000 00
13, 060. 000 00
12,190,000 00
29,585,000 00
18,250,000 00
10, 000,000 00
8, 376, 934 00
43, 937, 816 99
182,406 49
69, 746, 686 96
116,469 65
32, 405,708 21
67,694 37
29,611,228 37
53,159 11
32, 095,267 09
17,764 44
22,084,902 96
4, 657 64
33, 111, 871 03
7,027 28
17,253,823 87
3,285 91
22,788,980 56
2,667 17
i2j
Q
104,072,410 00
125,175, 943 48
226, 925, 800 51
60, 331,771 68
86,184,636 48
104,893,131 63
167, 577, 616 59
212,882,649 31
275,102,785 78
205,202,247 73
80, 000, 000 00
100, 000,000 00
100,000,000 00
100,000, 000 00
100, 000, 000 00
100,000,000 00
100, 000,000 00
100, 000,000 00
100,000, 000 00
W o . 4^5.—RECAPITULATION of the P U B L I C D E B T STATEMENT for the years named, in conformity with the form puhlished since July 1,
1885—Continued.
J u n e 30,1878.
Jmie-30,1879.
J u n e 30,1880.
J u n e 30,188L
J u n e 30,1882.
J u n e 30,1883.
June 30,1884.
J u n e 30,1885.
J u n e 30,1886.
Cash in ths Treasury—Gontinued.
UnavaUable for reduction
ofthe d e b t Fractional sUver coin . .
Minorcoin
Certificates held a s . c a s h Legal tender
Gold
Silver
:..
Net cash balance on hand..
Total cash in Treasury,
as shown by Treasurer's general account
H
$5, 568,722 33
1, 019,260 15
$8, 903,401 36 $24,350,481 80
1, 232,722 43
1, 541, 886 13
460,000 CO
19, 609, 320 00
1,459, 560 00
23,530, 806 12
1, 450, 000 00
133. 880 00
2, 052,470 00
12,145,139 01
256,823,612 08
353,152,577 01
360,000
40,700
6,584,701
8,188,246
$27,247,696 93
786,005 87
00
00
00
07
275", 000 00
23, 400 00
12,055,801 00
22,790,875 07
201,088,622 88
249, 363,415 36
$28,048,630 68
449,072 48
$28,486, 001 05 $29,600,720 05 $31,236,899 49
768,988 76
868,465 64
574,170 85
75,000 00
315, 000 00
8, IOO 00 . 22, 571,270 00
11, 690, 620 00 15, 996,145 00
tl, 775,034 81
9, 869,699 43
243, 289,619 78
345, 389,902 92
195, 000 00
27,246,020 00
23, 384, 680 00
12, 092, 029 93
200, 000 00
13, 593,410 00
38, 370,700 00
29,240,168 32
391, 985,928 18
488,612,429 23
$28,904,681 66
377, 814 00
250, 000 CO
55,129,870 00
27,861,450 00
75,191,109 95
492, 917,173 34
>
Ul
W
w
o
w
Public debt less available
cash in the-Treasury
2,108, 937, 031 66 2,104,214,761 22 2,034, 317,716 93 1,935,194,732 14 1,783,979,161 14 I, 646, 718, 996 741,546,991,881 96 1,485, 234,149 65 1, 389,136, 383 40
Decrease of debt during the
fiscal year
Annual interest charge on
public debt
Decrease of annual interest
charge
Increase of annual interest
charge
18,473,408 96
98, 631, 883 22
4, 722,270 44
69,897,044 29
99,122, 984 79
151,215, 581 00
137, 260,154 40
99, 727,114 78
61, 757,732 31
96, 097,766 25
65, 314,120 22
51, 803, 843 22
60, 891, 543 72
49, 387, 508 72
5,923,401 25
3,610,277 00
912, 299 50
1,504, 035 00
93,743,760 12
83,611,391 72
78, 896,106 22
61,237, 521 47
4,788,123 10
10,232,368 40
4, 615, 285 50
17, 658,684 76
O
Ul
H
>
493,829 00
i
* Decreased by $8,376,934, amount estimated as lost or destroyed, act of J u n e 21, 1879,
t Overdrawn.
Ul
N o . ^ e . — S T A T E M E N T giving an E S T I M A T E of the AMOUNTS ANNUALLY BEQUIBED for the SINKING FUND, according to present method
of computing interest.
Fiscal year.
1887
1888
1889
1890 . . .
1891
1892
1893 . . .
1894
1895
1896'...
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
P r i n c i p a l of P u b l i c D e b t
at the beginning ofthe
fiscal y e a r , l e s s C u r rency, Gold a n d Silver
Certificates,
and
a m o u n t held for R e d e m p t i o n of U n i t e d
States Notes.
:
$1,474, 034, 605 78
1,427,291,470 12
1, 379, 569, 917 46
1, 330, 849, 792 42
1, 281,110, 524 41
1, 228, 977,460 78
1,174, 937, 630 33
1,118, 921, 293 09
1, 060, 856,158 31
999, 653, 440 51
. 936, 547, 887 08
871, 473, 440 39
804, 368, 670 96
735,170, 232 73
663, 812, 803 22
590, 229, 021 92"614, 349, 426 64
436,102, 387 07
355,414,04171
272, 208, 219 04
186,406, 374 70
94, 502, 729 36
O b l i g a t i o n s , a n d t h e o r d e r i n w h i c h t h e y w o u l d b e r e d e e m e d u n d e r t h e o p e r a t i o n s of t h e
Sinking Fund.
Sinking-Fund
requirement.
Sinking F u n d a t
close of fiscal D e b t o n w h i c h
i n t e r e s t 4^ p e r c e n t .
year.
Funded Loan
ceased, a n d
of 1891.
3 p e r cent.
L o a n of 1882.
$677,709,670 62 $46, 743,135 66
$46, 743,135 66
47, 721, .552 60
725,431, 223 28
47, 721,552 66
48,720,125 04
774,151,348 32
48, 720,125 04
10, 566, 231 90 $39, 173, 036 11
823, 890, 616 33
49, 739, 268 01
52,133, 063 63
876, 023, 679 96
52,133, 063 63
54, 039, 830 45
930, 063, 510 41
54, 039, 830 45
56, 016, 337 24
986, 079, 847 65
56, 016, 337 24
48, 637, 732 57
58,065,134 78 1, 044,144, 982 43
61, 202,717 80 1,105,347,700 23
63,105, 553 43 1,168, 453, 253 66
65, 074,446 69 i, 233, 527, 700 35
67,104,769 43 1, 300, 632, 469 78
69,198,438 23 ' " 1, 369, 830, 908 01
71,357,429 51 1, 441,188, 337 52
73, 583, 781 30 1, 514,772,118 82
75, 879, 595 28 1,590,651,714 10
78, 247, 038 67 .1,668,898,752 77
80, 688, 346 26 1,749,587,099 03
83, 205, 822 67 1, 832, 792, 921 70
85,801, 844 34 1, 918, 594, 766 04
91, 903, 645 34 2,010,498,411 38
94, 502, 729 36 2,105, 001,140 74
1,474, 034, 605 78
153,751, 045 26
250, 000, 000 00
Bonds issued
to P a c i f i c
Railroad
Companies.
4 p e r c e n t . Consols of 1907.
United States
N o t e s and
Fractional
Currency.
Navy Pension'Fund.
o
H
O
$9,427,402 21
55,196,109 79
*64,623,512 00
$6, 006, 608 01
63,105,553 43
65, 074, 446 69
67,104, 769 43
69,198,438 23
71,357,429 51
73, 583, 781 30
75, 879, 595 28
78, 247, 038 67
80, 088, 346 26
83, 205, 822 67
4, 515, 670 52 $81, 286,173 82
91, 903, 645 34
80, 502,729 36 | I 4 , 000, 000 00
737, 967, 500 00
253, 692, 548 52
14, 000, 000 00
NOTE—Interest on bonds calculated at rates named in the authorizing acts, and at 6 per cent, on United States notes and fractional currency.
* On page 40 of this report will befound a statement of the condition of the Pacific Bailroad sinking funds, which at the close of thefiscal year contained in money and bonds
$8,290,129.28. This amount, with any further sums obtained from this source, is to be applied to the payment of the bonds issued to these companies and will contribute to the earlier
extinction of lhe debt.
^
^^
tn
o
GQ
N o . 4.7.—STATEMENT giving an ESTIMATE of the AMOUNTS ANNUALLY B E Q U I B E D J o r the SINKING F U N D , according to method of
computing interest proposed and descrihed on page 21.
^
Fiscal year.
P r i n c i p a l of P u b l i c D e b t
at the beginning ofthe
fiscal y e a r , l e s s C u r rency, Gold and Silver
Certificates,
and
a m o u n t h e l d for t h e
r e d e m p t i o n of U n i t e d
States Notes.
O b l i g a t i o n s a n d t h e o r d e r i n w h i c h t h e y w o u l d b e r e d e e m e d u n d e r t h e o p e r a t i o n s of t h e
Sinking F u n d .
Sinking F u n d
Requirement.
Sinking F u n d at
close of fiscal D e b t o n w h i c h
tUnited States
year.
i n t e r e s t * 4 | p e r c e n t . *Bonds i s s u e d
N o t e s and
t o P a c i f i c *4 p e r c e n t Conceased, a n d
Funded Loan
Fractional
R
a
i
l
r
o
a
d
sols
of
1907.
3 per cent.
of 1891.
C
urrency.
Companies.
L o a n of 1882.
tNavy Pen
sion F u n d .
Ul
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
1911
1912
1913
*
....
i
$1,474, 034, 605
1,436, 598.147
1, 398, 386.738
1, 359, 384,415
1, 319, 574, 884
1, 278, 539, 636
1, 236,224, 089
1,192, 588,297
1,147, 591, 068
1,101,189,925
1,053.341,067
1,003,999,324
953,118.119
900, 649,421
846, 543, 699
790,749, 878
733, 215, 291
073, 885,624
612,704, 871
549, 615, 280
484, 557, 292
417,469, 496
348, 288, 560
276,949,180
203, 384,010
128,915,412
52, 912,761
78
39
46
01
19
69
40
17
16
60
38
79
83
27
32
85
17
37
96
09
93
58
97
18
72
85
80
$37,436,458
38,211,408
39,002, 323
39,809, 530
41,035,247
42, 315, 547
43, 635, 792
44, 997, 229
46,401,142
47, 848,858
49, 341, 742
50, 881,204
62,468, 698
54,105,721
55, 793,820
57, 534, 587
59, 329, 666
61,180,752
63, 089 691
65, 057,987
67, 087, 796
69,180, 935
71, 339.380
73, 565,169
74,468, 597
76, 002, 651
52, 912, 761
39
$668, 402, 993 35
93
706,614,402 28
45
745, 616, 725 73
82
785, 426, 256 55
50
826,461, 504 05
23 - 868. 777, 051 28
29
912,412, 843 57
01
957,410, 072 58
56 1,-003,811,215 14
22 1, 051, 660, 073 36
59 1,101, 001, 815 95
96 1,151,883,020 91
56 1, 204, 351, 719 47
95 1,258,457,441 42
47 1, 314, 251,261 89
68 1, 371,785, 849 57
80 1, 431,115, 516 37
41 1,492,296,268 78
87 1, 555,385, 860 65
16 1, 620, 443, 847 81
35 1, 687, 531, 644 16
61 1,756,712,579 77
79 1,828.051,960 56
46 1, 901, 617,130 02
87 .1,976,085,727 89
05 2, 052.088, 378 94
80 2,105, COI, 140 74
1,474, 034, 605 78
$37,436,458
38,211,408
39, 002,323
39,100, 854
39
93
45
49
a
w
$708,676
41, 035,247
42, 315, 547
43,635,792
44,997,229
43, 399,142
33,908, 365
33
50
23
29
01
56
08
o
•^
$3,002,000 00
13,940,493 14
47, 681,018 86
""
153,751, 045 26
250,000, 000 00
. 64, 623. 512 00
w
$1, 660,723
50, 881, 204
52,468, 698
54,105, 721
55, 793, 820
57, 534, 587
59j 329, 666
61,180, 752
63,089, 591
65,057, 987
67, 087, 796
69,180, 935
71, 339, 380
9, 256, 631
73
96
56
95
47
68
8fl.
41
87
16
35
61
79
66 $64, 308, 537
74, 468, 597
76, 002. 651
38, 912,761
737, 967, 500 00
"^
H
td
a
•
QO
H
td
80
87
05
80 $14,000,000 00
253, 692, 548 52
"* Interest computed at the rate of 4 per cent.
td
d
t Interest computed at the rate of 3 per cent.
14, 000,000 GO
Ul
156
REPORT ON THE FINANCES.
No.4^.—CHANGES during thefisoal year 1886 m the FOBCE EMPLOYED in the
TBEASUBEWS OFFICE.
Total force of the Treasurer's office June 30,1885
Appointed
'.
Transferred to the Treasurer's office
4
7
Died
Besigned
Eemoved
Transferred from the Treasurer's office
3
11
0
13
Total force of the Treasurer's office June 30,1886
280
11
27
16
264
N o . 4L9.—APPBOPBIATIONS MADE for and SALABIES PAID to the FOBCE
EMPLOYED in the TBEASUBEB'S OFFICE during the fiscal year 1886.
•
RoU on which paid.
Appropriated.
Regular roll
.
..........
Reimbursable: Force employed in redemption of national-bank notes
Total
Balance unexpended.
Expended.
$269,600
$255,544 87
81,560
75,322 19
6,237 81
361,160
330,867 06
20,292 94
$14,065 13
_../. . .
N o . 5^.—LETTEBS, TELEGBAMS, and MONEY PACKAGES, BECEIVED AND
TBANSMITTED during thefiscal year 1886.
Received by mail:
Letters containing money, registered
Letters containing money, not registered
Letters not containing money
12,593
3,902
16,495
.)
i
126,488
Total
Transmitted*by mail:
Manuscript letters
Registered letters containing money
Printed forms fiUed in (inclosing checks)
Printed forms fiUed in (inclosing drafts)
Printed forms fiUed in (without inclosures)
Printed notices inclosing interest checks
Drafts accompanied by notices
Certificates of deposit (without forms)
Printed forms, circulars, and reports
Total.-..
Telegrams received
Telegrams sent
Money packages received by express
Money packages sent by express
Post-office warrants signed and registered
Transfer orders issued..:
141,983
7,273
4,320
17,245
24,620
194,346
236,039
66,474
41,406
40,600
632,323
'.
-'
---••
o
658
906
51,743
38,722
72,998
600
(No.2.)
REPOET OF THE BIREOTOE OF THE MINT.
TREASURY DEPARTMENT, BUREAU OF THE MINT,
Washington^ D. C, October 20,1886,
Hon.
DANIEL MANNING,
Secretary of ihe Treasury :
SIR : The duties of Director of the Mint were entered upon by me at
the beginning of the fiscal year ended June 30,1886.
While the volume of the work executed during the same year by the
several mints and assay offices of the ITnited States was greater than
that of. the previous year, the total expenditure was less by $197,089.71.
I proceed to exhibit in detail the performance of the mint service and
its expenditures; this being my second annual report, the first having
been made for a period under the administration of my predecessor.
APPROPRIATIONS, EARNINGS AND EXPENDITURES.
The specific appropriations made by Gongress for the support ofthe
mints, arid assay offices of the TJnited States during the fiscal year
^nded June 30,1886, amounted to $1,169,350.
Of this amount there was expended $947,369o04, leaving unexpended
in the Treasury of the United States of the specific appropriations the
sum of $221,980.96, as shown in the following statement:
U N E X P E N D E D BALANCES O P APPROPRIATIONS, M I N T S AND ASSAY
F I S C A L Y E A R 1886.
Institutions.
Mint at PhUadelphia
Mint at San Francisco
Mint at Carson
Mint at New Orleans
Mint at Denver
Assay office at New York..,
Assay office at Helena . . . .
Assay office at Bois6
Assay office at Charlotte...
Assay office at Saint Louis.
Total
,
Salaries.
Wages.
OFFICES
Contingent
expenses.
19,204 88
87 68
514 30
421 20
23 35
$2,163 71
60, 345 41
50,914 60
3 75
3,264 25
2,090 50
352 81
$31,, 118 84
14, 913 30
23, 009 41
2, 103 39
742 72
382 53
551 52
12 83
874 40
118 57
23,-018 62
119,134 93
79,827 51
$2,767 11
157
158
REPORT ON T H E FINANCES.
In addition to the amount expended from tbe annual appropriations
made by Congress for the support of the mints and assay offices the
sum of $119,976 was expended by two of the coinage mints from the indefinite general appropriation contained in the act authorizing the coinage ofthe standard silver dollar, passed February 28, 1878.
This amount was expended solely for defraying expenses incidental
to the coinage of the silver dollar, as provided in that act.
For the support of the mints and assay offices, including the cost of
the mandatory coinage of the silver dollar, the total expenditures from
the two classes of appropriations, specific and general,-during the fiscal
year ended Jane 30, 1886, were, as exhibited in the following statement, $1,067,345.04.
APPROPRIATIONS AND E X P E N D I T U R E S FOR T H E MINTS AND ASSAY O F F I C E S , 1886.
Institutions.
Salaries.
Wages.
Contingent.
Coinage of the
standardsilver
dollar, a c t o f
February 28,
1878(indefinite).
APPROPEIATIONS.
Total.
COINAGE MINTS.
Philadelphia
San Francisco
Carson
New Orleans
$41, 550 CO $293, 000 00 $100, 000 00
41, 900 CO 235,000 CO' 50, 000 00
25, 000 00
60, 000 00
29, 550 00
35, 000 00
31, 950 00 74,000 00
$434, 550 00
\ 326, 900 00
114, 550 00
140, 950 00
ASSAY OFFICES.
14, 000 00
10, 950 00
39, 250 00 • 25, 000 GO
12, 000 00
7, 950 00
3, 000 00
2, 750 00
3, 500 00
Denver
New York
Helena
Bois6
Charlotte
Saint Louis
Total
212, 350 00
713,000 00
6, 000 00
10, 000 00
8, 000 00
' 5, 000 00
2, 000 00
3, 000 00
244, 000 00
30, 950 00
74,250 00
^27,950 00
8, 000 00
4,750 00
6,500 GO
1,169,350 00
EXPENDITURES.
COINAGE MINTS.
Philadelphia
San Francisco
Carson
New Orleans
$38, 782
41, 900
10, 345
31, 862
89 5290, 836 29 $68, 881 16 $83, 097 99
00 174,654 59 35,086 70
12 9, 085 50 1, 990 59
32 73, 996 25 32, 896 61 36, 878 01
$481, 598
251,641
21,421
175,633
33
29
21
19
24,428
355
022
987
875
381
73
77
32
17
60
43
ASSAY OFFICES.
Denver
N e w York
Helena
Eois6
Charlotte
Saint Louis
Total...
-. -
10, 435 70 10, 735 75
38, 828 80 22, 909 50
7.926 65 11, 647 19
3, 000 00
2, 750 00
3, 500 00
3, 257 28
6, 617 47
7, 448 48
4, 987 17
1,125 60
1, 881 43
189, 331 48 593, 865 07 164,172 49 119, 976 00
1,067,345 04
159
DIRECTOR OF T H E MINT.
The total amount expended during the previous fiscal year was
$1,261,601.29. Thus there was a reduction of expenditures in the mint
service during the past fiscal year amounting to $194,256.25. A comparative statement of the coinage executed during the same years will
presently be introduced. It was considerably greater during the last
than the preceding year.
The reduction is exhibited in the following table o
COMPARISON OF E X P E N D I T U R E S ON ACCOUNT OF THE M I N T SERVICE, FISCAL
YEARS 1885 AND 1886.
1885.
Appropriations.
Salaries
Wages of workmen...
Contingent expenses .
Standard silver dollar
1886.
$189,331 48
593, 865 07
164,172 49
119, 976 00
$210,712 27
681,125 36
212,821 44
156, 942 22
Total
.1,261,601 29
1, 067, 345 04
In addition to the expenditures of the mints and assay offices, the
expenses of the office of the Director of the Mint, including the salaries
of officers and employes, expenditures for examinations of mints, for
books and incidentals, and on account of Laboratory, were $34,197.85
in 1886, against $37,031.31 in 1885, a reduction of $2,833.46.
This reduction of expenditures is exhibited in the following table:.
COMPARISON OF E X P E N S E S OF THE B U R E A U OF THE M I N T FOR THE FISC^SX
YEARS 1885 AND 1886.
1885.
Appropriations.
Salaries of officers and clerks
Examinations of mints, &c ..
Collecting mining statistics..,
Laboratory
Books, pamphlets, &c
Total
Appropriated.
$28,780
2, 500
°4, 000
1, 500
1, 005
00
00
00
00
25
37,785 25
1886.
Expenditures.
Appropriated.
$28, 346 32 $28, 440 00
2,497 20
2, 500 00
3,696 93
4, OGO 00
1,485 61
I, 000 00
.1, 005 25
1, 000 00
37, 031 31
36,940 00
Expenditures.
$28,000 GO
2,417 81
2,444 16
337 85
998 53
34,197 85
In addition to the amount expended at the mints from the standard
silver dollar appropriation, there was expended at the Department, for
daily quotations from London by telegraph of the pribe of silver, the
sum of $918, whicli is the exact amount expended for the same purpose during the preceding fiscal year. Quotations so received are in°
dispensable in making purchases of silver for the silver dollar coinage.
160
REPORT ON T H E
FINANCES.
The total reduction of expenses effected in the administration of the
mint service during the fiscal year ended June ,30, 1886, from the expenditures of the prior year amounted, as already stated, to $197,089.71.
The appropriations for the fiscal year 1886-'87 amount to $1,092,100,
against $1,169,350 for the fiscal year 1885-^86, being a reduction of
$77,250.
The appropriations for the fiscal year 1886-'87, as distributed among
the various institutions, are exhibited in the following table:
APPROPRIATIONS F O R T H E SUPPORT OF THE MINTS AND ASSAY O F F I C E S F O R
THE FISCAL YEAR 1 8 8 7 .
Institutions.
Mint at PhUadelphia
Mint at San Francisco^
Mint at Carson
Mint at New Orleans
Mint at Denver...-.
Assay office at New York..
Assay office at Helena
Assay office at Bois6 City..
Assay office at Jharlotte . .
Assay office at Saint Louis
Total
Salaries.
Wages of
workmen.
Contingent
expenses.
$41,550 00
41,900 00
29, 550 00
31, 950 00
10, 950 00
39, 250 00
7, 700 00
3, 000 ,00
' 2,750 00
3, 600 00
$293,000
170,000
60, 000
. 74,000
14,000
25, 000
12, 000
$100,000
40,000
25,000
35, 000
6,000
10,000
6,000
6,000
2,000
3,000
212,100 00
00
00
00
00
00
GO
00
648,000 00
Total.
00
00
00
00
00
00
00
00
00
00
$434,550 00
251,900 00
114,560 00
140, 950 00
30,950 00
74,250 00
25, 700 00
8, 000 00
4,750 00
6,600 00
232, 000 00
1, 092,100 00
EARNINGS AND EXPENSES OF THE R E F I N E R I E S OF THE
MINTS AND THE ASSAY OFFICE AT^NEVT^ YORK.
COINAaE
Paragraph 8, chapter 327, of Yol. I, Supplement to the Eevised Statutes United States, provides as follows:
And refining and parting of bullion shall be carried on a t the mints of the United
States and at the assay office at New York.
And it shall be lawful to apply the moneys arising from charges collected from depositors for these operations pursuant to law so far as may be necessary to the defraying in full of the expenses thereof, including labor, materials, and w a s t a g e ; b u t no
part of the moneys otherwise appropriated for the support of t h e mints and the
assay office at New York shall be used to defray the expenses of refining and parting
bullion.
N
Under this provision of law, which was passed originally in the appropriation act approved August 15, 1876, the charges for parting and refining bullion were so fixed at the several coinage mints and assay office
at E'ew York that collections should equal as nearly as possible the expenses of the operations. The charges have been reduced from time to
time with the reduction of cost of acid and other materials consumed,
and as rendered practicable by extension of the scale of operations.
The charges collected from depositors have since the 1st of July, 1876,
DIRECTOR
OF THE
161
MINT.
been deposited in the Tre-asury of the United States to the credit of a
fund denominated " parting and refining appropriation." Monthly advances havebeen made from this appropriation to the officers in charge
of the various institutions, by whom monthly accounts of expenses have
been rendered.
:
During the lasj/rfiscal year the charges collected from depositors for
parting and re:Kning bullion amounted to $162,855.53, while the total
expenditures wire $167,571.97, so that the expenses exceeded the receipts by $4,^6.44.
This was occasioned by a ruling of the First Comptroller that the
proceeds of the sale of blue vitriol and spent acid should be covered
nto. the Treasury on account of sales of by-products as old material,
these by-products having previously been taken at their market value
by dealers in acid in part payment, and credited in their accounts.
The sum deposited on this account during the last three quarters of
the fiscal year was $17,178.81. Deducting this credit from the expenditures for last year leaves for net expenditures $150,393.16. The net
profit of parting and refining amounted accordingly to $12,462.37.
The amount to the credit of the parting and refining fund in the
Treasury of the United States at the close of the fiscal year 1885-'86,
being the excess of the charges deposited to the credit of the fund over
and above the amount drawn from the same for expenditures during
the period of ten years commencing July 1, 1876, was $184,436.57.
The charges collected aod the expenditures at each institution during
the fiscal year 1885-'86 are exhibited in the following table:
CHARGES COLLECTED FOR P A R T I N G AND R E F I N I N G BULLION, AND
TURES, DURING FiSCAL Y E A R 1886.
Institutions.
Mint at Philadelphia . . . : .
Mint at Sau Francisco —
Mint at Carson
M int at New Orleans •
Assay office at New York
Total
Charges
collected.
EXPENDI-
Gross exNet expenditures. penditures.
$13, 067 43 $6, 060 76
56, 355 91 58, 662 76
47 86
939 80
763 09
1,411 36
92, 621 24 100, 497 29
$6,060 76
58, 662 76
939^80
1,411 36
*83, 318 48
162, 855 53 167, 571 97
150, 393 16
* Value of blue vitriol and spent acid sold during the year, previously credited on biUs for acid,
$17,178.81.
EARNIN'G-S AND E X P E N D I T U R E S . ,
In the Appendix will be found the annual statement for the fiscal year
showing the earnings from all sources at the mints and assay offices, as
well as the expenditures and losses of all kinds.
H. Ex.2.
11 ° ^
162
REPORT ON THE FINANCES.
The total' amount earned was $6,032,680.39, of which $5,763,851
consisted of seignorage on silver dollars coined during the year, and
$62.38 on subsidiary silver. The total expenses and losses of all kinds
amounted to $1,4^9,591.82.
DEPOSITS AND PURCHASES OF GOLD AND SILVER AT THE MINTS AND
ASSAY OFFICES.
The total value ofthe gold deposited at the mints and alsay offices during the fiscal year ended June 30,1886, amounted to $49,6tf6,534.65, of
which amount $4,696,785.42 consisted of bars of the several institutions
redeposited, leaving the net value of the gold deposited $44,909,749.23
against $52,894,075.09 in the preceding fiscal year, a falling off of
$7,984,325.86. Of the deposits of gold at the mints and assay offices
for the fiscal year 1885-'86 the sum of $32,456,493.64 was classified as of
domestic production, and $4,317,068.27 as foreign bullion; $393,545.28
consisted of United States gold coins remelted, and $5,673,565.04 of
foreign coins. The remainder, $2,069,077, consisted of jewerers'bars,
old plate and jewelry, and miscellaneous old material.
The total value ofthe silver, computed at its coining rate in standard
silver dollars, which is the accounting rate at the mints, deposited, purchased and parted at the mints and assay offices of the United States
during the last fiscal year amounted to $37,917,026.36 (32,584,944.61
standard ounces). Of this amount the sum of $2,422,843.12 (2,082,130.83
standard ounces) consisted of fine and unparted bars of the several institutions re-deposited, leaving the net value of the silver deposited,
purchased and parted during the year $35,494,183.24 (30,502,813.78
standard ounces) against $36,789,774.92 (31,616,212.91 standard ounces)
in the preceding fiscal year: being a falling off in the net deposits of
silver of 1,113,399.13 standard ounces of the value of $1,295,591.68.
Of the het value of the silver deposited for bars, parted from gold and
purchased for coinage during the year, namely, $35,494,183.24, the sum of
$32,454,644.56 was classified as of domestic production, $1,480,425.43 of
foreign bullion, $279,292.39 United States coins melted, $812,664.50 of
foreign coins, and the remainder, $467,156.36, of old jewelry, plate, <fec.
A Tery marked increase is to be noticed in the deposits of gold bullion
at the Mint at San Francisco. The total value of the gold, exclusive of
re-deposits, deposited at this institution during the fiscal year 1886
amounted to $27,319,837.25, against $20,774,252.86 in the preceding year,
an increase of six and a half millions. This is the first year since 1882
that there has not been a decline in the deposits of gold at this institution,
the marked decline since 1881 exhibited on page 4 of my annual report
for the fiscal year 1884-'85, having amounted in the four years ended
June 30,1885, to $8,072,438.07. This is now very nearly offset by the
large increase during the last fiscal year.
The most marked falling off in gold deposits during the year was at
the Assay Office at Kew York, where the valuQ of the ^old deposited,
exclusive of re-deposits, amounted to only $13,791,632.29, against
163
DIRECTOR OF THE MINT.
$26,419,503.11 in the preceding year, being a falling off of about onehalf.
In the Appendix will be found a statement showing the value of the
foreign gold coin, by denomination of pieces, deposited at the Assay
Office at ISTew York in each of the eleven fiscal years 1875-1885 inclusive:
also, statements showing the value of the foreign gold and silver coins
deposited a t t h e Mint at San Francisco in each fiscal year 1879-1886,
with the countries of their coinage,
COINAGE.
The coinage of gold, performed exclusively at the mints at Philadelphia and San Francisco, amounted during the past fiscal year to 5,050,814
pieces, of the value of $34,077,380, against 1,748,158 pieces, valued at
$24,861,123.50, in the preceding year. Of the gold coinage of the year,
the sum of $27,080,000 was executed at the Mint at San Francisco; the
rest at Philadelphia.
Of the gold coinage $4,871,680 was iu double-eagles; $10,428,470 in
eagles5 $18,758,145 in half-eagles; $303 in three-dollar pieces; $10,215
in quarter-eagles, and $8,567 dn dollars.
The silver coinage during the year amounted to 31,627,157 pieces
ofthe value of $30,022,347.95, against 31,699,096 pieces, ofthe value of
$28,848,959.65, in the preceding fiscal year.
Of this amount $29,838,905 consisted of silver dollars, $3,052.50 of
half-dollars, $3,626.25 of quarter-dollars, and $176,764.20 of dimes. The
silver coinage was executed principally at the mints at Philadelphia and
Kew Orleans. The Mint at Carson was closed during the entire year,
although the coinage of 28,000 silver dollars is credited to that institution. This coinage was really execute(f prior to June 30, 1885, but not
delivered by the coiner to the superintendent uutil af^er J u l y l , 1885,
which brought it into this year's statement of coinage.
In addition to the gold and silver coinage, 1,706,651 minor coins were
struck, of the value of $17,377.65. 1,696,613 pieces, of the value of
$16,966.13, consisted of 1-cent bronze coins; 4,519 pieces, of the face
value of $135.57, of 3-cent nickel pieces, and 5,519 pieces, of the face
value of $275.95, of 5-cent nickel pieces. The minor coinage was executed at the Mint at Philadelphia.
,
.
The coinasce executed was as follows:
COINAGE, FISCAL YEAR 1886.
Description.
Gold
Silver.......:
Minor coins
Total
Pieces.
.'
Value.
6, 050,814
31, 627,157
1,706, 651
$34,077,380 00
30, 022, 347 95
17, 377 65
38, 384, 622
64,117,105 60
164
REPORT ON T H E FINANCES.
MANUFACTURE OF GOLD AND SILVER BARS.
In addition to the coinage executed by the mints, the value of the
gold and silver bars manufactured duringthe fiscalyear 1886 amounted
to—
Gold
Silver
$19,031,809 21
8,236,223 77
.^
Total
27,268,032 98
The production of bars in the previous fiscal year amounted to—
Gold
Silver
$32,027,463 02
9,549,313.37
Total..
.:
41,576,776 :^9
The production of gold and silver bars was less by $14,308,743.41 than
in the preceding year.
EXCHANGE OF GOLD BARS FOR GOLD COIN.
Under the provisions of the act of May 26, 1882, the mints of the
United States and the Assay Office at New York were authorized to
exchange gold bars for deposits of gold coin. The value of the bars so
exchanged during the year amounted to $31,598,748.81, of which over
$31,000,000 was exchanged at the Assay Office at Kew York.
The following table exhibits the value each month of the fiscal year
of the fine gold bars given in exchange for gold coin at the Mint at PhiL
adelphia and the Assay Office at New York. The total value ot the bars
thus exchanged ($31,598,748.81) was largely in excess of the amount
exchanged during the previous year, which was only $2,065,021.78. The
large increase wias occasioned by the demand for gold bars for export.
STATEMENT B Y MONTHS O F F I N E GOLD BARS E X C H A N G E D F O R GOLD C O I N AT
THE M I N T AT P H I L A D E L P H I A AND ASSAY O F F I C E AT N E W YORK, FROM
JULY
1, 1885, TO J U N E 30, 1886.
Month.
Philadelphia.
N e w York.
Total.
1885.
July
August
September
October
Noveniber
Deceniber
$20, 067
25,080
30, 095
35,121
35,112
35,112
36
23
35
02
97
75
$89,696 28
197,781 95
418,953 61
385, 865 70
290, 272 83
816, 531 53
35,109
35,123
60,172
25, 083
45,143
35,123
45
47
42
50
24
51
1,507,943 16
4,276,211 11
7,931, 940 23
3, 529,354 83
5,773,223 86
6,974,628 45
406,345 27
31,192,403 64
$109,763 64
222,862 18
449, 048 96
420,986 72
325,385 80
851,644 28
1886.
January
February
March
April
May
June
Total.
,
1, 543, 052 61
4,311, 334 58
7,982,112 65
3,654,438 33
6,818,367 10
6,009,751 96
31,698,748 81
DIRECTOR OP THE MINT.
165
COINAGE AND MEDAL D I E S MANUFACTURED.
The number of medals manufactured at the Mint at Philadelphia
during the fiscal year ended June 30, 1886, was 765, of which 54 were
gold, 404 silver, aud 307 bronze.
The number of medals sold during the year was 876, value $4,652.19;
and of proof sets 3,358, value $4,515.92. A detailed statement of the
same will be found in the Appendix.
The number of coinage and medal dies manufactured was 528, of which
183 consisted of gold coinage dies, 280 of silver; 28 of minor coiuage, 26
of proof-coinage, and the others of medal dies.
The number of coinage dies manufactured for each of the coinage
mints is exhibited in a table in the Appendix. Heretofore the cost of
engraving these dies has been paid from the appropriation for the support ofthe Mint at Philadelphia, but under instructions as intimated in
my previous report, has, since the commencement of the present fiscal
year, been paid from the appropriation for the support of the mint to
which the dies are furnished.
R E F I N I N G BY ACIDS.
The numbor of ounces of bullion sent to the acid refineries of the
coinage mints and the Assay Office at Kew York to be refined during
the year was 7,246,795, from which was separated gold and silver bullion as follows:
Standard
ounces.
1
i
1
Gold
Silver
....
.
Total
Value.
1
1,123,193 $20,896,613
6,889,393
6,920, 573
.
27,786,006 Ij
This sum was against $37,050,049 in the previous year. In tfie value
of the bullion required to be refined at the raints and assay offices during
the year, there was a falling off of $9,264,043.
^ As pointed out in my special report on the Production of the Precious Metals for the calendar year 1885, it is apparent that a larger portion of the refined, production of the mines of this country found its way
to private refineries than heretofore. While most of the bullion, especially gold, was eventually deposited at the mints and assay offices of
the United States, it was more in the nature of refined bullion than
heretofore.
166
REPORT ON T H E FINANCES.
The following table exhibits the weight of the bullion sent to the refineries of each ofthe mints and of the Assay Office at Kew York during
the year, and the weight and value of the precious metals extracted:
R E F I N I N G ( B Y ACIDS), FISCAL YEAR 188.6.
Gross
Mint or assay oflace. , ounces..
Philadelphia
San FrauQisco
NewOrleans
New York
577, 066
1,766,669
66,350
4, 846,710
Total
7,246,795
Gold,
standard
ounces.
Value.
Silver,
standard
ounces.
Value.
Totalvalue.
135,991 $2,530, 065
367, 064 6,829,097
16, 646
309, 693
603,492 11, 227, 758
448, 337
$521,701
1, 636, 619 . 1,788,066
38, 953
45,327
3, 896, 664 4, 534,299
$3, 051,766
8, 617,163
355, 020
15, 762, 057
20, 896, 613
6,920, 573 fi- P89 30.^
27,786,006
1,123,193
PURCHASE OF SILVER FOR THE COINAGE OF THE STANDARI^ SILVER
DOLLAR.
The act passed February 28, 1878, provided—
That tliere shall be coined at the several mints of the United States silver dollars
ofthe v^^eight of 412^ grains Troy of standard silver. * * * And the Secretary of
t h e Treasury is authorized and directed to purchase from time to time silver bullion,
at the market price thereof, not less than $2,000,000 worth per month, nor morethan
$4,000,000 worth per month, and cause the same to be coined monthly, as fast as so
purchased, into such dollars.
Prior to the commencement of the present fiscal year the Director of
the Mint was charged not only with the supervision of the details of
the purchases of silver bullion, but also with the reception of weekly
bids by telegraph for the sales of silver bullion to the government, to
be considered by himself and the other members of the Commission
constituted March 9, 1878, by order of the Secretary of the Treasury,
for the purpose of considering and recommending to the Secretary purchases of silver bullion.
On July 10, 1885, I had the honor to address you a communication in
which I recommended that all bids be addressed to the Treasurer <pf the
United States, and that the executive duties of the Commission be transferred from this Bureau to the Treasurer, except so far as these duties
were in actual relation with the mints. It was also proposed that bids
be invited on two days ofeach week, instead of one day as previouslj^,
with a view of preventing combinations in the silver market unfavorable to the government. Both of these recommendations were carried
into effect by your order of July 14, 1885, since which date bids for the
sale of silver bullion in lots of uot less than 10,000 ounces have been
addressed to the Treasurer of the United States on every Tuesday and
Friday-either by telegraph or by letter. The practical details of all
transactions remain, as heretofore, in charge of this Bureau.
DIRECTOR OP THE MINT.
167
The amount of silver purchased and delivered during the fiscal year
1885-'86 in the manner stated was 24,296,413,76 standard ounces, costing $22,547,582.60, being an average cost per standard ounce of
$0.928002, or $1.031113 per ounce fine. The average London price
during the same period, computed from daily cable despatches to the
Bureau of the Mint, was 47.038 pence per ounce, British standard.
This, at the average rate of sterling exchange, $4.8751, was equivalent
to $1.03295 per ounce fine.
In addition to the purchases by the Secretary of the Treasury on the
recommendation of the Commission, silver bullion was also purchased,
under authority given the superintendents of the coinage mints to purchase lots offered of less than 10,000 ounces, at a price fixed from time
to time by the Director of the Mint to conform as nearly as possible to
the market price, of silver. The amount of silver purchased in lots of
less than 10,000 ounces by the officers in charge of the coinage mints
during the fiscal year 1885-^86 was 239,174.56 standard ounces, at a
cost of $221,707.65.
The silver contained in gold deposits called ^^ partings'' is also purchased for use toward the specific requirements of law for the silverdollar coinage, at a price fixed from time to time by the Director of the
Mint. The amount of silver representihg the charges on deposits of
silver bullion for bars, as well as the minute fractions of the deposit
over and above the value of the bar returned, is, by authority of the
Secretary of the Treasury, also purchased for use in the silver-dollar
coinage, at the rate of $1 per standard ounce. The total amount of
silver purchased during the year in partings and charges and bar-fractions was 141,311.41 standard ounces, costing $129,436.93.
In addition, there was transferred from the Assay Office at New
York to the Mint at Philadelphia during the year, for use in the coinage of the standard silver dollar, silver bullion amounting to 534,936.87
standard ounces, at a value or cost to the government of $550,232.83.
This silver had accumulated at the Assay Office at New York from
partings and bar-charges and fractions.
Thus it will be seen that the total amount of silver purchased in these.
different ways for the silver-dollar coinage during the fiscal year
was 25,211,836.60 standard ounces, at a cost to the government of
$23,448,960.01, the average cost per standard ounce being $0.930077,
equivalent to $1.03342 per ounce fine.
' In addition to the silver purchased for the silver-dollar coinage, tbe
Melter and Eefiner of the Mint at Philadelphia, under instructions from
this Bureau, deposited with the superintendent 1,980.12 standard
ounces of silver bullion, costing $1,936.62, which was the exact amount
and value of three silver bars missed by this officer during the fiscal
year 1884-85, and supposed to have been stolen, reference to which was
made on pages 14 and 20 of my report for the fijscal year 1885.
168
REPORT ON THE FINANCES.
This amount, 1,980.12 standard ounces, costing $1,936.62, formed a portion of the stock of silver bullion used in the coinage of standard silver
dollars during the year.
This, added to the amount above stated, 25,211,836.60 standard
ounces, costing $23,448,960.01, gives as the total stock of silver bullion
acquired for the silver-dollar coinage during the year 25,213,-816.72
standard ounces, costing $23,450,896.63.
The purchases of silver bullion for the silver-dollar coinage during
the year are exhibited in the following table:
BULLION F O R THE SILVER-DOLLAR COINAGE.
Mode of acquisition.
Department purchases
Purcliases bv mint officers
•..
Partings, bar-charges, and fractions
Transferred from the Assay Office at New York
'
Deposited by Melter aud Refiner of the Mint at Philadelphia.
Total
:
Standard
ounces.
24, 296,413.76
239,174. 56
141, 311. 41
• 534,936.87
1, 980.12
. 25,213,816.72
Cost.
$22,547,582
221,707
129,436
550,232
1, 936
60
65
93
83
62
1
1
i
1
1
23,450,896 63
i
The stock of silver bullion on hand at the several coinage mints July
1, 1885, available for the silver-dollar coinage was 3,731,901.12 standard
ounces, costing $3,627,682.32 (not including 1.980.12 standard ounces,
costing $1,936.62, carried in "suspense account.") There was delivered at the mints on purchases during the year as stated 25,213,816.72
standard ounces, at a cost of $23,450,896.63, making the total amount
of silver applicable to the silver-dollar coinage 28,945,717.84 standard
ounces, costing $27,078,578.95.
The number of silver dollars coined during the year was 29,838,905.
The araount of silver consumed iu this coinage was 25,642,808.98 standard ounces, costing $24,075,054. The silver wasted by the operative
officers and sold in sweeps during the year, was *-44,413.20 standard
ounces, costing $42,555.93, making the total consumption ofsilver during the year 25,087,222.18 standard ounces, costing $24,117,609.93.
The balance of silver bullion on hand at the coinage mints June 30,
1886, available for the silver-dollar coinage was 3,258,495.66 standard
ounces, costing $2,900,969.02.
The average cost of the silver consumed duringtheyear was$0.938895
per ounce standard, equivalent to $1.04321 per ounce fine.
In addition to the purchases of silver for the silver-dollar coinage,
theamountof silver parted from gold at the Assay Office at New York
and received in payment of charges and bar-fractions during the year
** Includes .01 standard onnce, costing .02,
[ transferred to ** Uncurrent Silver Coinage" account.
169
DIRECTOR OF THE MINT.
was 152,528.43 standard ourfces, at a cost to the Government of $144,136.32. This is not treated as a purchase of silver for the silver-dollar
coinage, but is inseparably connected with the receipt of gold and silver deposits at the Assay Office at New York. The silver so received
is from time to time, when not required at the Assay Office at New York
for payment of deposits of fine bars, transferred to the Mint at Philadelphia at its cost value, and then becomes a part of the silver purchases of the year in which transferred.
Of the amount of silver partings and bar-charges purchased at the
Assay Office at New York during the year, as above mentioned,
123,848.82 standard ounces, costing $116,088.80, were transferred to
the Mint at Philadelphia, and are included in the silver purchases of
the year as already stated.
The difference between this amount and the total amount transferred
from the Assay Office at New York during the year (534,936.87 standard ounces, costing $550,232.83), viz., 411,088.05 standard ounces, costing $434,134.03, consisted of silver parted from gold at the Assay Office
at New York and of silver received in payment of charges and bar-fractions prior to the commencement of the fiscal year 1885-'86.
At the average monthly price of silver, it was necessary to purchase
during the fiscal year 25,642,462 standard ounces in order to obtain
$2,000,000 worth of silver bullion monthly, as required by law. The
amount actually acquired was, as stated, 25,211,866 standard ounces.
I t may be well to note that this latter amount represents the deliveries
at the mints during the year on silver purchases (including the transfers
and local purchases), and that the amount actually purchased (contracted for, including the transfers, partings, &c.), was, in round figures,
25,783,200, being slightly in excess of the minimum amount required by
law to 'be purchased.
The deliveries during the year on purchases (25,211,836.60 standard
ounces, costing $23,448,960.01) at the several mints are shown in the
following table:
D E L I V E R I E S ON PURCHASES O F S I L V E R BULLION.
Standard ounces.
Mints.
1
Philadelphia ..
New.Orleans ..
San Erancisco
Carson
Total
•
.- ,
Cost.
17, 016,477.66
7,894,800.62
300,328.84
229.58
$15,877,902 47
7,299,612 81
271,22161
223 12
25,211, 836. 60
23,448,960 01
I
1
X
There has been no purchase of silver bullion for the silver-dollar
coinage at San Francisco during the year, except such silver as was
necessary for the special requirements of its refinery, and the silver
170
REPORT ON THE FINANCES.
parted from gold deposits and contained in charges and bar-fractions
on silver deposits for bars.
A t the Mint at Oarson the purchase of silver was suspended prior to
the beginning of the fiscal year, the only silver purchased during the
year amounting tq 229.58 standard ounces, at a cost of $223.12, and
consisting of partings and bar-charges. The purchase of silver, as well
as the coinage of the silver dollar, has been confined exclusively to the
mints at Philadelphia and New Orleans, where the silver could be more
economically obtained and the coinage executed with greater advantage to the government.
SUBSIDIARY SILVER COINAaEc
No silver was purchased during the year for purposes of the subsidiary coinage.
. Uncurrent silver coin, however, in the Treasnry, weighing 115,169.65
standard ounces, possessing a coining value in subsidiary silver of
$143,290.39, was transferred from the Treasury of the United States to
the Mint at Philadelphia for recoinage into dimes.
The amount of silver bullion on hand at the mints July 1, 1885, available for subsidiary coinage was * 37,144.16 standard ounces of the value
of $45,958.71. Adding to this the amount of uncurrent silver coins transferred from the Treasury, the total amount of silver at the mints available for purposes of the subsidiary coinage during the year was
152,313.81 standard ounces of the value of $189,249.10. Of this there
was consumed in the coinage of subsidiary silver 147,442.28 standard
ounces, costing the mint $183,380.57, and making subsidiary silver of
the face value of $183,442.95, being a profit of $62.38.
The character of the subsidiary coinage executed during the year
was:
. .
'
Halves
Quarters
Dimes
Total
:.'
1
.*.
$3,052 50
3,626 25
176,764 20
183,442 95
The balanee cf silver bullion on hand June 30, 1886 (all being at the
Mint at Philadelphia), available for the coinage of subsidiary silver,
amounted to 4,871.54 standard ounces, costing $5,868.53.
In explanation of the cost of the silver used in subsidiary coinage, as
compared with that used in the coinage of the standard silver dollar,
it is proper to state that most of the silver used in the coinage of subsidiary silver consisted of uncurrent silver coins in the Treasury. When
coins of this djBscription are transferred from the Treasury to a mint
for recoinage, the full coining value in subsidiary silver of the pieces
transferred is allowed by the niint and becomes the cost to the institution by which such silver is coined.
*Tliis includes .01 standard ounce, costing $.02, transferred from " Standard SilverDollar" account.
171
DIRECTOR OF THE MINT.
There has been a demand for some time past for diraes. The mints
have therefore been called upon to recoin other silver coins into dimes
The fact that there is a large accumulation in the Treasury of fifty and
twenty^five cent silver pieces tends to indicate that the coinage of those
denominations has been in excess of the requirements of the public
The stock of subsidiary silver in the Treasury consists almost exclusively of these two denominations. I t seems desirable, therefore, instead of buying silver for the coinage of dimes, for which there is a pressing demand, to re-coin the worn twenty-five and fifty cent pieces in the
Treasury, and uncurrent three, hve, and twenty-cent pieces which may
be presented to the Treasury for redemption.
This could readily be done by act of Congress appropriating a sufficient amount to pay the loss on such recoinage, being the diff'erence
between the face value of the coins as received in the Treasury and the
amount of silver which they will actually produce in coin when recoined.
DISTRIBUTION OF SILVER DOLLARS.
In the accompanying table is exhibited in detail the distribution of
silver dollars by the mints of theUnited States during the fiscal year.
It will be noticed that during the fiscal year 30,2 0,000 silver dollars
were transferred from the coinage mints to the Treasury of the United
States, and that there were actually paid out at the mints to individuals
11,361,979.
Owing to the very large amount transferred to the Treasury of the
United States, the balance of silver dollars at the mints has, notwithstanding the coinage, been decreased duringthe year, being $50,482,787
on June 30, 1886, against $62,255,861 on June.30, 1885.
1
j
i
AMOUNT OP SILVER DOLLARS REPORTED B Y THE COINAGE MINTS ON H A N D
, J U N E 30, 1885,
COINED DURING THE YEAR AND ON H A N D
AT THE
CLOSE
O F T H E F I S C A L Y E A R E N D E D J U N E 30, 1886.
j
Period.
i
1
1
Philadel
phia.
San
Francisco.
Carson.
NewOrleans.
10, 834, 087
Total.
62,255,861
29,838,905
1
i
i
1
1
On hand June 30, 1885
Coinage of fiscal year 1886
32, 029, 467
3,170, 308
16, 221, 999
20,463, 905
47, 000
28, 000
9, 300, 000
1
1
1
31, 297, 992
Total
:
Transferred to TJnited States
TreaiBury
•
32, 076, 467
3,198,308
25, 521, 999
92, 084, 766 E
10, 000, 000
3,100, 000
17,150, 000
30,250,000
1
31, 297, 992
22, 076,467
98, 308
8,371,999
61,834,766
!
8, 371, 999
1
1
1
1
Transferred from TJnited States
Mint at Carson
Transferred to United States
Mint at San Francisco
1
Tn Mints June 30 1886
1
Distributed
18, 072
18,072
31, 297, 992
22, 094, 539
19, 229, 530
3, 279, 237
61, 844,766
50,482,787
I
27, 974, 020
3, 323, 972
2, 865, 009
80 236 1 .5.092.762
11,361,979
Ij
80, 236
172
REPORT ON THE FINANCES.
S E i a N O R A G E ON SILVER COINAGE.
The seignorage on the coinage of silver doUars during the fiscal
year—being the difference between the cost of the bullion and the face
value of the pieces coined—amounted to $5,763,851. The seignorage
on subsidiary silver coin manufactured at the Mint at Philadelphia
amounted to $62.38. The total seignorage on silver coin inanufactured
during the fiscal year was $5,763,913.38.
The balance of profits on the coinage of silver rernaining in the possession ofthe officers in charge ofthe coinage mints on the 30th June,
1885, was, as stated on page 9 of my report for the last fiscal year,
$725,366.07. ' Adding to this the above-mentioned protits of the year—
$5,763,913.38—makes a total of $6,489,279.45 of silver profits to be
accounted for by the mints during the fiscal year. Of this amount
the sum of $167,763.42 was paid for expenses in distributing the coin,
all of which, except $457.85, was for silver dollars. In addition, the
sum of $16,966.87 of the profits was used to reimburse the mints for
the losses arising from the wastages of the melters and coiners in the
manufacture of silver dollars and the loss on the sale of silver in sweeps
during the fiscal year.
.
'"*
The sum of $5,751,347.72 was deposited in the Treasury of the United
States, as shown by the warrants in the statement of seignorage in the
Appendix to this report, leaving a balance of $553,201.44 in the coinage
mints at the close of the fiscal year, as follows:
Philadelphia
San Francisco
NewOrleans
Total...
. . ' . . . . p46,834 99
21,866 96
184,499 49
553,201 44
, The above balance was verified June 30, 1886, by representatives of
this Bureau, who were sent to eacb of the coinage mints in operation,
for the purpose of ascertaining by actual weight and count whether or
not the officer in charge had in his possession the moneys called for by
the books of the Treasury Department, as well as to superintend the
annual settlement between the superintendent and the operative officers. Of this balance the amount at the Philadelphia Mint, $346,834.99,
has since been covered into the Treasury by certificate of deposit E'o.
37286, and the balance at Kew Orleans, $184,499.49, by certificate of
deposit Ko. 37129, leaving the remainder at the Mint at San Francisco,
which it is expedient to keep at that institution. Ko silver coinage
having been executed at that mint for the last eleven raonths of the
fiscal year, it is necessary to retain a portion of the silver-profit fund
to pay the cost of distributing the coin still on hand.
The seignorage on the coinage of silver from July 1, 1878, to the close
of the fiscal year ended June 30, 1886, has amounted to $31,102,303.35.
DIRECTOR OF THE MINT.
173
To this is to be added the balance on hand at the coinage inints July 1,
1878, the beginning of the fiscal year following the passage of the act
authorizing the issue of silver dollars. This balance was $424,725.47.
There is also to be added $9,237.54, refunded by Adams Express Oompany for overcharges in their bills for shipping silver dollars, and
$4,560.30, consisting of surplus silver bullion and profits arising from the
adjustment of silver values, which sum, while not strictly seignorage on
silver coinage, was carried to the credit of the silver-profit fund. These
items make a total of silver profits to be accounted for of $31,540,820.66.
Of thisamount the sum of $651,541.65 has been paid for expenses con^
nected with distributing silver coins. The sum of $187,917.02 has been
paid for wastage in connection with the silver-dollar coinage and for
losses on sale of sweeps .attending that coinage, thus leaving the net
profit for the eight years, including the balance in the mints pn July 1,
1878, on the manufacture of silver coins, $30,701,367.99.
Of this amount the sum of $30,148,166.55 has been covered into the
Treasury of the United States by covering warrants as profits ou the
coinage of silver prior to the close of the fiscal year ended June 30,1886.
The balance, amounting to $553,201.44, was, as previously stated, in the
possession of the coinage mints at that date and verified by actual count.
Of that balance all except the amount at the mint at San Francisco
has since been deposited in the Treasury of the United States.
In the Appendix will be found a statement showing in detail the
profits on the coinage of silver during the fiscal year, and the dispo
sition of the same.
COURSE OF T H E P R I C E OF SILVER.
At the date of the passage of the act authorizing the coinage of-the
standard dollar, February 28, 1878, the London price for silver was 55
pence per ounce, British standard, equivalent to $1.20566 per ounce fine,
at which price the intrinsic value of the United States silver dollar, was
$0.93i.
At no time since the passage of the act has the price of silver reached
55 pence, the tendency having been steadily downward, with occasional
temporary advances which were not maintained for any considerable
time. During the past year the decline has been very marked, especially.since January 1st of the present year.
Ou July 1, 1885, the London price of silver was 49J pence per ounce,
British standard, equivalent to $1.07961 per ounce fine, while on June
30, 1886, the London price was 44|^ pence per ounce, British standard,
equivalent to $0.9796, showing a decline during the year of over ten
cents per ounce.
Since the close of the fiscal year there has been a further decline
until on July 31,1886, the price of silver reached 42 pence per ounce
174
REPORT ON THE FINANCES. '
British standard, equivalent to $0.92068 per ounce fine, which was the
lowest price silver has ever reached. At the latter price the bullion
value of the silver dollar, measured by the market price of silver, was
$0.712088.
''
The price has since advanced until at the present writing (October 20,
1886) it is 45:i^6 pence per ounce, British standard, equivalent at the par
of exchange to $0.9878 per ounce fine.
In the Appendix will be found a table showing,the ratio of silver to
gold each year since 1687.
^ Also a table showing the highest, lowest and average price of fine
silver in London and its equivalent in United States money each year
since 1833.
Also a table showing the highest, lowest and average value intrinsically of the United States silver dollar measured by the gold standard,
and the quantity of fine silver purchasable with a United States silver
dollar at the average London price of silver since 1873.
R E V I E W OF THE OPERATIONS OF T H E MINTS AND ASSAY OFFICES
DURING- THE FISCAL YEAR 1 8 8 6 .
MINT AT PHILADELPHIA.
The deposits and purchases of gold and silver at the Mint at Phila- '
delphia amounted during the year to $23,800,679.85, against $18,101,424.04 in the preceding fiscal year.
The coinage executed consisted of 24,997,460 pieces, of the value of
$27,660,039.40, against 42,864,328 pieces, of the value of $18,509,280.25,
in the preceding fiscal year. While the total number of pieces coined was
less than inthe previous year, owing to the falling off in thedemand for
minor coins, the number of pieces of gold and silver coined was largely
in excess of the previous year, the falling off being in the minor coinage.
The gold and silver coinage executed consisted of 23,290,809 pieces,
of the value of $27,642,661.75. In addition there were struck 10,038
nickel pieces (five and three cent pieces), and from blanks ready prepared 1,696,613 bronze cents.
It will be understood that in comparison with the coinage of gold and ,
silver pieces from crude bullion the striking of bronze pieces from
ready-made blanks supplied by copper works is a simple operation.
The excess in the number of pieces struck in 1884-'85 over the output
for 1885-'86 was mainly of bronze pieces, viz, 17,572,120 in the former
year, against 1,696,613 in 1886.
The Melter and Eefiner operated on 1,396,820.218 standard ounces of
gold during the year, with a wastage of 421.603 standard ounces. The
same officer operated on 39,693,151.81 standard ounces of silver during
the year, ahd at the annual settlement returned over and above the
amount charged to him a surplus of silver during the year of 4,384.42
DIRECTOR OF THE MINT.
175
standard ounces. The same officer operated on 2,604,286.24 ounces of .
metals used in the minor coinage, with a wastage of 4,456.12 standard
ounces.
The Coiner operated on 1,118,730.030 standard ounces of gold during
the year, with a wastage of "24.541 standard ounces. The same officer
operated on 39,005,873.90 standard ounces of silver bullion during the
year, with a wastage of 3,413.63 ounces.
The work of the melting and coining departments of the Mint at
Philadelphia during the pastyear has been on a scale never before attempted. The total amount of melting and refining, expressed in a
tabular form, may be exhibited as follows:
Coinage of gold .. ^ - . . . - - . . .
Coinage ofsilver
Refining gold and silver
Total
•
.„
;
Tons.
42f
1,215
18
l,275f
From the fact that the above weight of gold and silver is handled
sixteen times while passing through the Melter and Eefiner^s hands,
and fully as often in the coining department, it may be considered that
upwards of forty thousand tons of gold and silver were handled by the
operatives of the mint during the year.
The work of the assay department exceeded that of any previous year.
As 12,867 melts of ingots were made for coinage during the year, and
as these melts are always assayed in duplicate—and in doubtful cases
i n triplicate—it may be said that over 26,000 assays for silver coin
alone were made. As all bullion received must be assayed, as a basis
for paying the ^depositor, as well as for eiiabling the Melter and Eefiner to calculate his melts, about 15,000 assays were made on account
of silver bullion deposited and purchased.
The assays of gold ingots for coinage, while not nearly as large as in
former years, added some 1,500 assays to the work. The receipt of
gold deposits was in advance of that of late years, and as these are
assayed for silver as well as gold, duplicate and, in the majority of
cases, triplicate assays were made. As a result, the total gold assays
numbered over 21,000, niaking an aggregate of over 41,000 assays in
silver and 21,000 assays in gold: a grand total of 62,000 assays.
I t is believed that an amount of equally critical and accurate work
has seldom, if ever, been performed in the same time with so small a
torce. (
0
e
The engraving department, as usual, has been mainly occupied with
the manufacture of dies for all the coinage mintSo
176
REPORT ON THE FINANCES.
The following table, prepared by its bookkeeper, exhibits the expenditures of the Mint at Philadelphia, as well as the output of coin and
bars, for the fiscal years 1877-'86:
STATEMENT O F E X P E N D I T U R E S ON ACCOUNT O F APPROPRIATIONS, AND OUTPUT IN GOLD, S I L V E R AND MINOR COINS,
FOR THE FISCAL YEARS 1877 TO 1886,
AND I N GOLD AND S I L V E R
BARS,
INCLUSIVE.
EXPENDITURES.
Date.
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
Salaries..
$35,762 33
34,850 00
34,850 GO
33, 632 87
• 34, 850 GO
33,424 72
40, 830 64
40, 503 18
40, 673 91
38,782 89
E x p e n s e of
P a r t i n g and manufacturing silver
refining.
coin.
Incidentals.
Wages.
$302, 899 34
284, 572 31
284, 764 10
287, 645 92
345,06] 18
369, 235 46
354, 851 08
358, 845 70
367, 854 51
375, 511 94
$81, 668 28
67, 645 93
82, 495 73
75, 333 43
111, 148 73
129,073 26
143,8S5 10
118, 980 26
127, 259 82
69,145 91
$4, 349 70
4, 387 19
3, 560 17
10, 934 41
9, 574 63
6,126 82.
8, 358 20
.10, 309 27
7, 793 73
6, 052 76
$21,480.36
53, 953 .41
86, 221 43
°
Total.
$446,160
445. 408
405,670
493, 768
500, 634
537 860
547 925
5''8 638
543,581
489,493
01
84
00
06
54
26
02
41
97
50
OUTPUT.
Gold coinage.
Silver coinage.
Minor coinage.
Date.
Pieces.
,877,
878
879
.880
.881
882
883
884
885
Value.
494,020
778, 884
936, 564
3, 789, 820
7, 275, 926
8,270,450
941, 680
425, 334
453, 469
I, 059, 314
$9, 803, 564
10, 892, 800
11,329, 352
27, 639, 445
49, 809, 274
59, 678, 437
7, 729, 982
2, 777, 154
2, 952, 563
6, 997, 380
00
00
00
00
00
50
50
00
50
GO
Pieces.
Value.
Pieces.
36,145,200
23,483,750
12,125, 850
15, 223, 400
9,174, 820
11,100,300
18,798, 076
19,406,793
17^ 800, 099
22, 231, 495
$11, 444, 935 00
11,809,825 50
12,124,882 50
15,194,437 50
9,125, 966 75
11, 062,388 75
12, 325,470 15
13, 854,387 80
15, 029,159 95
20, 64.5,281 75
4,196, 500
3, 059, 800
9, 620, 200
26, 831, 850
38, 335, 665
46, 865, 725
60, 951, 526
55, 955, 029
24, 610, 700
1, 706, 651
Bars.
1877.
1878.
1879.
1880.
1881
1882
1883.
1884
1885
1886
Silver.
$64, 265 85
61,75^83
89,997 82
145, 200 85
236,141 78
238, 878 96
381, 508 84
521, 095 65
401, 925 76
524, 875 72
399
101, 739
125, 614
83, 688
60, 123
146, 163
280, 174
54, 282
42, 758
23, 379
$62,165 00
30, 694 00
97, 798 00
269, 971 50
405,109 95
644, 757 75
1,428,307 16
1,174, 709 73
527, 556 80
17, 377 65
Total value of
output.
Date.
Gokl.
Value.
09
26
22
67
09
05
78
11
67
17
$21, 461,328 94
22, 895,812 59
23,767, 644 54
43, 332,743 52
59i 636,615 57
71, 770,626 01
22,145, 443 43
18, 381,629 29
18,953, 964 68
28,208, 294 29
DIRECTOR OF THE MINT.
177
The execution of so large a proportion of the coinage of the year by
the Mint at Philadelphia has not been without the necessity of resorting to expedients to meet the extra requirements imposed upon, this
institution.
A t the beginning ofthe fiscal year the force of adjusters was increased
by a second shift, with working hours from 4 to 10 p. m., an exchange
of hqurs being made every week by the two shifts. This expedient became necessary for want of capacity in the adjusting-room, through the
diversion some years ago of a part of its.space for wardrobes and other
conveniences. A division of the force of adjusters in this manner is
not desirable. Steps have therefore been taken to vacate the space
previously appropriated for other than practical pnrposes, and to provide for the same by erecting a loft above the present room, the work
being executed by the mechanical force of the mintc
Preparations were made toward the close of the last fiscal year for a
second shift in the Melter and Eefiner^s and Ooiner^s departments; a •
change which, however, did not go into effect until after the close of
the year.
All mechanical labor performed in the mint during the fiscal year has
been by the regular force of the minto This-circumstance becomes
notable from the fact that for the six years previous to th© beginning of
the fiscal year over $54,000 was paid out to a single firm for extra mechanical labor, at an average daily rate of wages of $4.73, against the
average rate of $3.25 paid the .regular mechanical force of the mint.
However exceptional the year may prove as one in which no considerable expenditures for machinery have been incurred, I deem the fact
as here implied worthy of note.
The act of Congress, providing for a new steam plant and engine outside of the mint-building, beneath the level of the court, did not pass
until after the close of the fiscal year. The removal of this plant will
provide space for the construction of coal vaults under the gangway on
the west side, and also for the proper location of vaults for the storage
of coin and bullion in the centre of the building, instead df along the
outer walls as at presento
Eeference was made in my last annual report to the fact that three"
silver bars, numbered 7087, 7093, and 7113, containing 1,980.12 standard
ounces of silver, were missed by. the Melter and Eefiner during the
fiscal year 1885, and that the value of these bars, $1,936.62, was carried
in a suspense account opened for the purpose until the exact facts relative to their disappearance were ascertained.
On March 26,1886, Dr. James 0. Booth, the Melter and Eefiner of
the mint, deposited with the superintendent 1,980.12 standard ounces
of silver bullion, closing out this suspense account.
While the Melter and Eefiner of the Mint at Philadelphia was only
technically responsible for the bullion stolen, it was necessary, in order
to prevent a deficiency in the bullion fund, that he should place with
H. Ex. 2
:-12
178
REPORT ON T H E FINANCES.
the government silver in lieu of that stolen, which had been charged
to him and for which he had receipted. It is to be hoped that Oongress
will reimburse the personal loss thus entailed upon this venerable and
efficient officer.
STORAGE AND CUSTODY OF STANDARD SILVER DOLLARS AT PHILADELPHIA.
In my report for the last fiscal year attention was invited to the exigencies of the storage of bullion and coin, with special reference to the
Mint at Philadelphia, where two-thirds of the mandatory coinage of
silver dollars is executed over and above the coinage of minor coin and
the larger part of the subsidiary.
Without repeating the considerations there presented, it proves iipportant to urge the same considerations, as the Department is again
called upon to meet an emergency similar in kind to that described at
the beginning of the last fiscal year. From the emergency at that time
relief was found in the provision of two empty vaults connected with
the vacant apartments in theUnited States post-office building in that
city. These vaults were fitted for the reception of silver dollars and
made ready for occupation about December 1, 1885. At the instance
ofthe Deiiartment they were supplied with time-locks and metallic lattice
work, and consigned to the Superintendent of the Mint at Philadelphia
for the storage of silver dollars in excess of what could be kept at the
mint, and the delivery of which to the Treasury or sub-treasury might
not be called for.
The anomalous course has thus been forced upon the mint service of
retaining the immediate custody, under the personal responsibility of
the Superintendent of the Mint at Philadelphia, of the bulk of the output of that institution, instead of delivering the same according to custom to the United States Treasury. The anomaly is all the greater that
the storage of this'treasure is not upon the premises of the Mint itself,
but in a separate building with separate environments, thus requiring
a special watch for its safety.
. Up to the 30th October, 1886, a date subsequent to that of this report
and while it was in press, the amount of silver dollars thus stored in
the post-office building was $20,250,000. This is the sum of the daily
output ofthe mint for less than a year, the vaults of the mint proper,
including a number of provisional vaults without special safety
appliances, having been filled to repletion and in a manner very objectionable, from the fact that sufficient space for gangways has not
been available for examination and count.
On the same date I forwarded you a communication from the
Superintendent of the Mint at Philadelphia stating that the vaults
in the post-office buildiug will be completely filled at the end of
twenty days, when they will contain some $21,500,000, and that
no further space will be available for storage of silver dollars in
DIRECTOR OF THE MINT.
179
the mint building except by recourse to the very objectionable expedient
of piling solid vault ISTo. 6. This vault contains 1,733,000 pieces, which,
from the circumstance that it is without safety appliances and that it
is upon the outer walls of the building, are all that can be stored therein,
with the usual requirement of gangway spaces necessaiy for purposes
of examination and count.
Even if this vault be filled to its cubical capacity, storage can be
found for the output of less than two months' work The emergency is
thus forced upon the attention of the Department either to provide
space, with suitable safety apijliances and guard, for the storage at
Philadelphia ofthe further output of the mint, or else to provide for its
transfer from time to time, at short intervals, to the custody of the
United States Treasury.
The vaults in the Uuited States post-office building still reraain in
the custody of the Superintendent of the Mint at Philadelphia, owing to
the impracticability of their transfer to the custody of the United States
Treasury while open to the reception of the daily output of the mint.
When these vaults, however, be ficially filled, I have to recommend that
the custody ofthe same be transferred to the United States Treasury.
Owing to the bulky character of- the silver treasure, for the storage
of which temporary and unsuitable expedients have had to be adopted
at the Mint at Philadelphia, I took occasion in my last annual report
to point out as the greatest danger to which this treasure is exposed
whatever danger there be from popular disorder. In order to be prepared for any contingency ofthe kind, however remote, I undertook to
secure, through the co-operation of the War Department, a suitable defensive armament for the Mint at Philadelphia. The armory was early
in the year newly equipped with Gatling guns mounted on tripods and
with repeating rifles, &c. An armorer has been detailed from the roll
of the mint and a portion of his time given to the proper care of these
arms.
MINT A T S A N FRANCISCO.
The deposits and purchases of gold and silver at the Mint at San Francisco during the last fiscal year amounted to $29,0^1,690 38 against
$25,399,707.10 in the preceding year. The increased deposits are very
marked in the case of gold, the value of the gold deposited during the
fiscal year.1886 being $27,320,134.72, against $20,774,459.97 in the preceding year, an increase of over $6,500,000. Prior to the year just ended
there had been a marked and continued falling off iu the deposits of gold
at the Mint at San Francisco. The amount declined from $28,846,898.04
in 1881 to $20,774,459.97 in 1885, a total decline from 1881 to the close
of the fiscal year 1885 of $8,072,438.07. The deposits of gold during
the past year exceeded the value of the gold deposited at that mint
any year since 1882.
The deposits and purchases of silver amounted to $1,691,555.66 during the fiscal year 1886, against $4,625,247,13 in the preceding year.
This was owing to the fact that the coinage ofsilver at the Mint at San
180
REPORT ON T H E FINANCES.
Francisco was, for prudential and economical reasons, discontinued
the past fiscal year. The amount of silver received consisted exclusively of deposits for bars, silver parted from gold deposits, and the
small amount purchased for granulating purposes in the refinery.
Fine silver bars of the value of $1,345,970.72 were manufactured at
the Mint at San Francisco for depositors during the past fiscal year.
The coinage of the Mint at San Francisco during the fiscal year 1886
was, gold, 3,991,500 pieces of the value of $27,080,000, against 1,236,500
pieces of the value of $20,857,500, in the preceding fiscal year. The
silver coinage consisted of 47,000 silver dollars and 20,662 dimes, of
the value of $2,066.20, a total silver coinage of 67,662 pieces of the value
of $49,066.20.
The Melter and Eefiner operated during the year on 2,812,334.880
standard ounces of gold bullion and returned in settlement at the close
ofthe year, over and above the bullion charged to him, 1,538.199 standard ounces. The same officer operated on 1,618,059.30 standard ounces
of silver, and delivered in settlement an excess, over and above the
amount charged to him during the year, of 3,376.27 standard ounces.
Out of 935 melts of gold ingots made by the Melter and Eefiner during
the fiscal year, not one was condemned. This is one of the evidences
of the care and skill with which the operations of the melting and refining department of the mint were conducted.
^
•
The following table exhibits the number of melts of ingots made and
the number condemned each year at this mint from 1874-1886:
STATEMENT O F T H E N U M B E R O F M E L T S AND INGOTS MADE AND T H E N U M B E R
CONDEMNED AT T H E M I N T OF T H E U N I T E D STATES AT SAN FRANCISCO,
FROM .1874 TO 1886.
Gold ingots.
Fiscal year.
1874..
1875..
1876..
1877..
1878.
1879..
1880.
1881.
1882.
1883.,
1884.
1885.
1886.,
Total
Condemned per cent.
Silver-ingots.
Number
Number
Number made. condemned, Numbermade. 1 condemned.
813
925
942
1,141
1,393
981
931
1,033
958
901
767
677
935
2,648
4,378
9,454
13, 210
13,610
12, 789
8,104
12,617
10,719
. 7, 509
5, 539
2,619
10
15
11
8
14
14
14
12,397
103,196
157
.1
12
1
0
181
DIRECTOR OF T H E MINT.
The Coiner of the Mint at San Francisco operated on 2,848,812.810
standard ounces of gold bullion during the year, and returned in settlement an excess of 124.654 standard ounces. The same officer operated on 65,709.70 standard ounces of silver, and delivered in settlement
an excess, over and above the amount charged to him during the year,
of 43.79 standard ounces.
As it is unusual for a Ooiner to return an excess of bullion, it is proper
to state that this excess arose from gold and silver recovered from old
carpets in the adjusting room, which, being unfitted for further use,
were burned and produced 171.672 standard ounces of gold and 44.37
standard ounces of silver. These carpets .had been in use seven years.
The value of the blanks handled in the room covered with these carpets
during the period they were down, was, corresponding to the total coinage for the same period, namely, gold, $183,734,000, silver, $46,534,866.
The following statement exhibits the work of the Coiner's department
of this mint during the last four years:
COMPARATIVE STATEMENT O F OPERATIONS I N THE COINER'S DEPARTMENT
OF THE M I N T AT SAN FRANCISCO F O R THE F O U R YEARS ENDED J U N E 30,
1886.
GOLD COINAGE.
Fiscal years.
Amomit.
1882-'83
1883-'84
1884-'85
1885-'86
Per cent.
$26,760,000
23,543,500
20,857,500
27,080,000
Total and inean
98,241,000
Total and mean
Actual
waste.
Stand, ozs. Stand.ozs.
1,325.685
134.715
120.300
1,164. 590
1,041.746
70.337
1,424. 406
47.018
Per cent,
of allowance.
10.1
10.3
6.75
3.3
4,956.427
372.370
7.5
12,628.130
9,779.060
4,703.610
50.154
638.76
618.13
192
.58
5
6.3
4.08
1.15
27,160.954
1,449.47
5.35
SILVER COINAGE.
'
1882-'83
1883-'84
1884-'85
1885-'86
54.7
54.3
54.7
52
Legal allowance.
$7,350,000
5,850,000
2,908, 799
49,066
00
00
70
20
16,157,865 90
5L5
52.5
53.3
52.8
Actual loss for four years last past:
Gold.Silver
Deductforprorataof proceedsof carpets, used seven years and destroyed:
Gold value
$1,705 60
Silver value
13 80
$6,925 70
1,305 00
8,230 70
1,719 40
Net loss for the four years last past, coin value.,
Legal allowance on gold operated o n . . . . . .
Legal allowance on silver operated on...'
Total allowance for four years past.
6,511 30
87, 544 95
24,844 ^
112,390 00
182
REPORT ON THE FINANCES.
M I N T AT N E W
ORLEANS.
The value of the deposits and purchases of bullion at the Mint at
New Orleans during the year was $9,318,643.37, against $10,243,397.18
in the prior year. . The coiuage, which consisted exclusively of silver
dolla.rs, amounted to 9,300,000 pieces, against 10,135,000 pieces coined
in the^preceding year.
The Melter and Eefiner operated on 25,428.644 standard ounces of gold
bullion, with a wastage of .956 standard ounce, and 16,370,688.77 ounces
of silver bullion, with a wastage of 5,647.06 standard ounces.
The Coiuer operated on 14,448,853.90 ounces of siver bullion, with a
wastage of 1,826.65 standard ounces. No gold bullion was operated on
by the coiner during the fiscal year.
The following statement shows the number of assays made at New
Orleans, both gold and silver, during the fiscal year:
STATEMENT SHOWING THE N U M B E R OF GOLD AND S I L V E R ASSAYS MADE AT
THE M I N T A T N E W O R L E A N S D U R I N G T ^ E F I S C A L Y E A R E N D E D J U N E 30,
1886.
GOLD ASSAYS.
Number.
Deposits
Ingots
Melted and refined fine gold
Miscellaneous . . :
548
38
73
85
Total :
744
SILVER ASSAYS.
Number.
Deposits
Bar purchases
Ingots
."
Melted and refined grain bars
Melted and refined fine silver,
Settlement bars
,
Sweeps
Experimental
,
524
6,985
10,826
134
. 98
56
32
281
Total silver
18, 936
Eecapituiation:
Total gold assays
Total silver assays
18, 936
Total assays
744
19, 680
DIRECTOR OF THE MINT.
M I N T AT CARSON.
183
|.
The value of the deposits at the Mint^ at parson during the year
amounted to only $13,930.78.
I
From the table of coinage it appears that the Mint at Carson coined
28,000 silver dollars. This coinage was really executed in the previous
fiscal year, but not having been delivered by the coiner to the superintendent before the close of that year, was necessarily included in the
coinage of the fiscal year 1885-'86.
When operations were suspended at the Mint at Carson there were
on hand in gold bullion 50,332.859 standard ounces, of the value of
$936,425.17, and 666,832199 standard ounces of silver bullion, costing
$647,968.22. The amount of gold coin on hand was $20,120, and of
silver coin $20,076.42.
The refined bullion, consisting of 28,563.526 standard ounces of gold,
of the value of $531,414.44, and 258,241.46 standard ounces of silver,
costing $250,935.12, was transferred to the Mint at Philadelphia.
The unrefined bullion, consisting of 21,694.546 standard ounces of
gold, ofthe value of $403,619.46, and 407,017.49 standard ounces of silver, costing $395,501.88, was transferred to the Assay Office at New
York.
The Stiperintendent's and Assayer's sweeps and flux-bars, containing 15.989 standard ounces of gold, of the value of $297.47, and 78.26
standard ounces of silver, costing $77.76, as well as the $20,120 in gold
coin and the $20,076.42 in silver coin, were transferred to the Mint at .
San Francisco.
The sweeps were sold, and contained 58.798 standard ounces of gold,
of the value of $1,093.80, and 1,495.78 standard ounces of silver, costing
$1,453.46.
The gold and silver coins reserved frorn the coinage of the Mint at
Carson for the calendar year 1885, forwarded to the Mint at Philadelphia
for trial at the annual assay, amounted to $220 in gold and $114 in silver coin. After they had been tested by the annual assay cbramission
their value was transferred to the Mint at Philadelphia, thus closing out
the stock of coin and bullion on hand at the Mint at Carson.
Owing to the difficulty in procuring silver bullion for delivery at the
Mint at Carson at reasonable rates, coinage was suspended at that institution from March 1, 1879, to June 30, and from November 1, of the
same year, to May 1, 1880, and from April to October, 1881.
For some time prior to March, 1885, Assistant Secretary French,
Treasurer Wyman, and Director Burchard recommended acceptance of
offers for sale of silver to be delivered at Carson only when the rates
were such that the cost of transporting the resulting coin to the Atlantic
coast, added to the price of bullion, would not exceed the cost at the
mints at Philadelphia and New Orleans.
184.
• REPORT ON THE FINANCES.
The deposits of gold bullioh at the Mint at Carson during the fiscal
year 1885 amounted in value to $1,505,665, and the purchases of silver
to $1,159,138. During the same year t^e coinage was:
Gold
SUver
$1,051,060
776 000
(Report Director Miat, 1885, pp. 56, 66.)
On March 8, 1885, the Superintendent, Mr. James Crav^ford, died.
Business was suspended and the mint closed, pending appointment and
qualification ofa successor, until April 1, when the new superintendent
and new coiner assumed office.
March 28, the balance of the regular appropriation for '' wages of
workmen" being but $7,200 for four months' operations, the Director
of ttie Mint, with the approval ofthe Secretary of the Treasury, ordered
the suspension of coinage (which had not been resumed) for the remainder of the fiscal year 1885; also, that the force of clerks, workmen,
&c., be reduced to the lowest possible limit. The receipt of bullion for
* " parting and refining,'' and local purchases of silver for the standarddollar coinage, however, were allowed to continue.
May 8, by Department order, the Superintendent at Carson was instructed to discontinue the purchase of silver bullion until further
notice.
May 30 the Secretary of the Treasury authorized the Treasurer of the
TTnited States to instruct the Superintendent ofthe Mint at Carson as
well as Assayers in charge of the United States assay offices other than
at Ndw York that thereafter funds to be used by them for the purchase
of bullion would be placed with the Assistant Treasurers at New York
and San Francisco.
June 11 the Secretary further directed that no silver be purchased,
except silver " parted" from gold and deposits of mutilated United
States coin, and also that a charge be imposed on deposits of gold bullion to cover transportation to the Mint at San Francisco.
August 14 the Coiner, for want of occupation, was suspended by the
President.
November 6 it was ordered that the Mint at Carson be closed to receipt of deposits, and clerks, assistants, and workmen be discharged.
November 16 the Melter and Eefiner and the Assayer were suspended
by the President.
The falling off in the business of the Mint at Carson, which led tothe
closing of that institution, will, in connection with the above statement,
be exhibited by the fact that during the first three months of the fiscal
year 1886 the deposits of gold at that institution had fallen tQ 518
standard ounces, from 23,333 standard ounces for the corresponding
period of 1885.
I t having been urged upon this Burean that the prospects for business had become so greatly improved as to justify the reopening ofthe
mint, I undertook to solicit, through Saperintendent Garrard, from par
DIRECTOR OP THE MINT,
^
185
ties most interested in such a measure, some guaranty which might
justify the Department in carrying out the recommendations looking to
that end on the footing, at least, of an assay office,
Tl^e estimate by the Department for the expenditures of the Mint at
Carson was for an amount sufficient alone for the proper custody of the
building and its contents. But no such appropriation having been reported in the Legislative, Executive and Judicial Appropriation Bill, I
took occasion, on 5th June, to submit the proposition whether it would
not be well to suggest for the consideration of Congress an appropriation the same as that for the previous fiscal year. This was in view of
the fact that representations had been made to the Bureau of the Mint
of the readiness on the part of certain producers of bullion to deposit
the same at the Mint at Carson instead of sending it to private refineries, on condition that certain benefits, which it was claimed are conferred by the law, but which during the year 1885 had been withdrawn
from that institution in common with some others by the action of the
Department, were restored.
The recommendation was made especially in view of the fact that the
omission of the usual appropriation for the Mint at Carson would deprive that institution of the means to reopen either for the receipt of
bullion or for coinage operations, if in the course of the year, at the
discretion of the Department, it should be deemed expedient.
1 took occasion also to say that it was doubtless true that the cessation of deposits at the Mint at Carson was largely due, first, to the payment of depositors by draft instead of in cash 5 and, second, to the collection of a transportation charge from depositors for the cost of
transportation of refined bullion to the Mint at San Francisco, by
express.
Up to the close of the fiscal year no guarantee could be obtained
which seemed to justify, in the opinion of the BureaUj the resumption
of operations at that mint even on a reduced scale.
Since the closeof the fiscal year, however, representations have been
made to this Bureau to show the existence of such conditions as might
reasonably be expected to provide business for this mint conducted as
an assay office. And claims have been nrged on the Department of
the right of producers within reach of this mint to deposit their bullion
and to receive payment therefor in current funds.
In recognition of such claims it was decided to reopen this mint to depositors, and to provide for the payment of deposits in current funds.
On October 5, 1886, the President appointed Dr. David K. Tuttle to
succeed Mr. Stevens as Melter and Eefiner, and Mr. Joseph D„ Eyan to
succeed Mr. Hetrich as Assayer.
ASSAY OFFICE AT NEW YORK.
The deposits of gold and silver bullion at the Assay Jffice at New
York during the year amounted to $22,559,482.11 against $35,248,421.34
in the previous year 5 a falling off of nearly $13,000,000.
186
REPORT ON THE FINANCES.
The.falling off in deposits of gold was chiefly in foreign gold bullion
and coin.
The value of'the gold bars manufactured during the year was
$15,820,585.07, and of silver bars, $6,721,393.36.
The Melterand Eefiner operated during the year on 929,770.775 ounces
of gold, and returned at settlement an excess of 889.447 ounces, of the
value of $1,6,547.85. The sarae officer operated on 5,920,653.13 ounces
ofsilver bullion, with a wastage of 318.10 ounces.
The araount parted and refined at the acid refinery was 4,656,786
gross ounces, containing 540,041 standard ounces of gold and 3,831,572
standard ounces of silver. There were received frora the acid refinery
540,408 standard ouncesof gold and3,654,582 standard ounces of silver.
There was used in the parting operations, 1,729,327 pounds of sulphuric acid. There were sold 2,531,810 pounds of waste acid, and
321,477 pounds of blue vitriol, realizing $17,267.86.
The work of rearranging the apparatus in the acid refinery, comraenced
two years ago, was continued without interrupting regular operations.
Great advantage has been obtained in increased convenience and
healthfulness resulting from the changes which have been niade.
The escape of acid fumes frora the Assay Office at New York has been
for raany years a growing source of offense and annoyance as a result of
the erection in its neighborhood of lofty edifices for office purposes,
whereby the draft of the flues had become impaired and the escaping
gases deflected. Formal complaints of these gases as a nuisance have
been repeatedly lodged with the Superintendent ofthe Assay Office and
appeals made to this Bureau directly and through the Departraent.
Much attention has therefore been given by all concerned to the removal of this difficulty through the introduction into the operations of
the refinery of raore effective appliances for the suppression of acid
furaes by confining thera within chambers and by dissolving thera in
water.
The following statement on this subject,'from the Melter and Eefiner,
possesses technological importance as well as an interest for all who have
been troubled by the escape of irritating gases, as it will go far toward
showing the earnest efforts that have been made to remove all cause of
annoyance and complaint:
In connection with the replacement of worn-out apparatus in t h e refinery a t this
office, enlarged and improved facilities have been provided for absorbing gases generated in the parting processes.
Since the completion, some months past, of the new systein, complaints of annoyance from the fumes, previously not infrequent, have ceased. This and other considerations warrant the conclusion that the apparatus is successfully doing the work
for which ifc was erected. The initial item is a lead hood over the kettles in which
solution of the metals in sulphuric acid takes place. This hood is a dome (not funnel-sliaped, as formerly), 2 feet high and 2 feet 9 inches in greatest diameter. I t
forms nearly a circle with the pot, and is believed to have an advantage in its shape
from the impinging ofthe ascending fumes upon the top of the dome causing a,certain amount of condensation, thus lessening t h e quantity to be subsequently treated
DIRECTOR OF THE MINT.
187
as well as the amouut of acid to he used. Evidence of this is found in the fine rain
of condensed acid frequently seen descending on the metal in the kettle.. The hood is
connected hy a lead pipe 10 inches in diameter and of required length, with an alternating series of coke chambers (made of lead) and large vertical and horizontal lead
pipes, and with an alkali box, and finally, at poiut of exit, with the main stack.
There are ih all five coke chambers, about 10 feet by 5 feet hy 6^ feet, in which the
coke occupies about one-third the cuhic space. There are eight vertical lead pipes,
16 inches in diameter by 24 feet long, six vertical lead pipes 20 inches in diameter by
24 feet long, and three horizontal lead pipes 20 inches hy an average length of SOfeet.
The alkali box is 25 feet long by 3^ feet high by 22 inches wide, and is so connected
and operated that a saturated alkali solution is drawn out by an acid pump and
forced up and over the box and rained down at successive points upon the furaes, already largely deprived of their acid quality. Tbe chambers and pipes are each constantly and liberally sprayed with water, thus keeping the coke and all condensing
surfaces cool, and supplying an ahsorbing element for the gases. The length of t h e
entire apparatus, in a continuous line, would be over 500 feet, with the stack; over
600 feet. The course of the fumes may be briefly ti^aced as follows: From the dissolving kettles into the first coke chamber, thence into the second coke chamber, then
into the series of 16-inch vertical pipes, up and down, and into the third coke chamher, on leaving wbich a horizontal'20-inch lead pipe 20 to 25 feet long conducts them
to t h e next cOke chamber, and so on, the idea being to alternate between the chambers and pipes. From the last coke chamber of the series- the fumes pass into the
alkali box and are drenched as before described with alkali solution, passing from
thence into the series of 20-inch vertical and horizontal pipes, where they are still
further sprayed wifch water, and. are then discharged into the stack to mix wifch the
waste steam from reducing and condensing houses. Careful inspection a t the point
of exit fails to detect any quality in the gases passing ofi" t h a t can be a source of annoyance.
There was used in the refinery last year over 1,700,000 pounds of sulphuric acid, a
daily average of nearly 6,000 pounds. At the maximum of work the solution pots are
charged with 1,800 pounds of metal each day, and three to four finishing pots are also
in operation. This gives an indication of the large quantity of fumes which the apparatus described is taking care of, and so eff'ectively that, as already said, complaints have apparently hecome a thing of the past. A sufficient supply of water is
an indispensable element in the successful working of the system. An artesian well
is about to be sunk on the premises, which, it is hoped, will adequately and economically meet all necessities in t h a t direction.
MINT AT DENVER AND MINOR ASSAY OFFICES.
The Mint at Denver, which is conducted and equipped only as an
assay office, and the assay offices located at Helena, Mont.; Boise, Idaho;
Saint Louis, Mo., and Charlotte, N. C , received during the year deposits
containing gold of the value of $2,677,910.44 and silver of the value of
$141,224.08, being a total of $2,819,134.52, against $3,173,122.07'in the
prior year, a falling off of over $350,000.
The falling off in deposits was mainly at the Mint at Denver and the
Assay Office .at Bois6. This was frora the-fact that an order issued
by the Department, about the coraraencement of the fiscal year, required depositors of gold at those institutions to pay, in addition to the
usual mint charges, the cost of transporting their bullion to a coinage
mint for coinage. The expense had been at ^intervals heretofore de-
188
REPORT ON THE FINANCES.
frayed from annual appropriations made by Congress for '^ freight on*
bullion and coin."
The cost to the Government for the maintenance of these five institutions, which from time to time were located for the convenienceof
the producers of gold and silver, will be exhibited by a statement for
the year of their earnings and expenses of all kinds, including losses,
asfollows:
Earnings.
Institutions.
Denver
Helena
Boi86
Charlotte
Saint Louis
Total
--•
>.
Expenses.
$7,180 42
5, 292 29
996 57
1, 616 97
703 67
$24,428 73
27,022 32
7,G87 17
3, 875 60
5, 381 43
15. 789 92
68, 695 25
The above earnings do not include the amount collected at these
institutions in charges for parting and refining the deposits and for
alloy, because such charges are afterwards paid into the coinage mint
by the same institutions. Hence, taking into consideration only the
legitimate earnings and the total expenses of all kinds, the entire cost
to the Governraent of the five institutions during the fiscal year 1886
was $52,905.33.
Mr. R. B. Harrison, the A ssay erin chargeof the United States Assay
Office at Helena, Mont., haying resigned, Mr. „ Spruille Braden, the
Assayer in charge of the Boise Assay Office, was appointed to succeed
,hira November 10, 1885. Mr. H. F. Wild was appointed,to succeed Mr.
Braden as Assayer in charge of the Assay Office at Bois6 City.
Mr. Calvin J. Cowles, the Assayer in charge of the Assay Office at
Charlotte, was suspended November 8, 1885, and Mr. Eobert P. Waring appointed to succeed" him.
The Senate of the United 'States having rejected the nomination of
Mr. Posey S. Wilson as Assayer in charge of the Mint at Denver, Mr.
George C. Munson was appointed to succeed him, and entered upon
duty August 13, 1886.
SUMMARY.
The total value of the gold and silver wastage in the operative departments of'the coinage mints during the fiscal year was $19,206.19. In
addition, the loss arising fuom the sale of gold and silver bullion contained in sweeps during the year, being the difference between the assay
value of the bullion contained in them and credited to the. operative
officers and the amount obtained from their sale, araounted to $17,137.25,
making a total loss of $36,343.44. In addition there was lost at the
New York Assay Office, on the sale of plumbiferous melts, the sum of
DIRECTOR OF THE MINT
'
189
$86.08, making a total loss of the precious metals during the year of
$36,429.52. Against this loss is to be credited the value of the gold
and silver returned by the operative officers of the several mints and
the Assay Office at New York during the fiscal year in excess of the
amount charged to them, amounting to $55,022.59, and the value of
the gold and silver bullion contained in granules and sweeps recovered from the deposit melting-room, amounting to $11,368.46,
making the total value, of the surplus bullion recovered during the
year $66,391.05. After paying all the losses incurred in the operations on bullion, as well as the technical loss on sale of sweeps in the
operations of the coinage mints and the Assay Office at NewYork,
during the year, there was over and above such losses an actual surplus in the value of the bullion recovered of $29,961.53. In addition
there was a gain by the small assay offices, including the Mint at Denver, amounting to $5,326.33 during the year, on bullion purchased from
depositors and consigned to coinage mints, this amount being the excess of the net value allowed by the mint on consignments over the
amouot allowed by the assay offices to depositors during the year. This
gain arose very largely from the fact that while the same melting charge
is imposed on the deposit of gold bullion at the assay office as would
be imposed on such deposit if made at a coinage mint, tliiO melting charge
is only imposed at the mint on the aggregate of each consignment by
the assay office. Adding this amount to the above-mentioned gain of
bullion in the operations of the mints and of the Assay Office at New
York during the fiscal year, namely, $29,961.53, gives the sum of
$35,287.86, representing the gain in the handling of the precious metals
during the year at all of the mints and assay offices of the United States
over and above the total losses, actual and technical, in both their metallurgical and mechanical operations on bullion.
CLASSIFIED STATEMENT OF EXPENDITURES AT THE COINAGE MINTS
AND ASSAY OFFICE AT NEW YORK.
Beginning with the fiscal year, in pursuance of instructions from tbis
Bureau, has been for the first time introduced at all of the mints aad
assay offices a system of accounts intended to classify all disburscD^nts
of the several institutions under the supervision of this Bureao, the
Mint at San Francisco, as stated in my previous fiscal report, leaving
been the only one of the-institutions whose books had previously been
kept upon a system admitting of such classification.
The statements on this plan from all the institutions in the mint service now on file in this Bureau admit for the first time of the presentation of cost sheets which will favorably compare with exhibits of other
methodical manufacturing establishments. The exhibits for the larger
institutions wiil be found in the text, while a tabulated statement including the smaller estab ishments will be presented in the Appendix of
this report.
190
EEPOBT ON THE FINANCES.
TABULATED
STATEMENT
O F ' E X P E N D I T U R E S AT T H E " U N I T E D
STATES
MINT
AT
P H I L A D E L P H I A , F O R T H E F I S C A L Y E A R ENDING J U N E 30, 1886.
Engrav- AssayGeneraJ
e r ' s dee r ' s de- C o i n e r ' s dedepartmeut. partment. partment. partment.
Expenditures.
Melter and Eefiner's
department.
Proper.
$320 96
Acids
Charcoal
Chemicals
Coal
Crucibles, covers, stirrers, and dippers
D r y goods
Gas
Gloves and gauntlets
Hardware
Ice
I r o n a n d steel
. . .
liUmber . . .
M a c h i n e r y a n d appliances
Metal work and castings.
Oils a n d beltin*'"
Kepairs
Salt
..
'stationery, printing, a n d
binding
Sundries
Wood
:
Zinc
M i t t e n s a n d sleeves
Total
Sal a r i e s
W a g e s of w o r k m e n
Affiiresate
$3,379 87
$190 04
$58 45
12,886 56
58 76
194 00
$227 46
83
82
107
465
25
60
$2,335 21
6,085 72
2,126 70
10, 653 13
203 46
3, 577 50
17 80
1,964 61
222 70
1, 304 00
131 10
27 50
857 16
2,636.32
10 50
425 29
645 00
107 93
787 54
Eefinery.
30 75
35 27
13 63
186 59
59 09
31
87
10
26
31 14
3 12
778 73
247 71
1 35
473 23
36
'
8 00
65 55
12 16
179 65
12 75
I, 099 19
4, 835 04
28, 753 48
38, 782 89
373, 759 73
261 54
783 18
286 00
10, 080 99
29,168 52
4,239 76
441, 296 10
, 261 54
783 18
10, 080 99
29,168 52
*fi nfifi 7fi
123 00
• 9, 370 77
106 42
15 25
1, 374 99
316 84
19 36
384 12
1, 042 75
1, 829 00
* I n c l u d e s $8 d u e i n 1885 for w a g e s p a i d in 1886.
SUMMAEY.
Expenditures.
Expenditures.
Acids
---Charcoal
Chemicals
Coal
Copper
Crucibles, covers, stirrers, and
dippers
Dry goods
:
Gas
,
Gloves and gauntlets
Hardware
•.
Ice
Iron and steel
Luraber
Machinery and appliances . . . . . .
$3,700 83
2, 525 25
6, 461 14
15, 207 26
10, 653 13
3, 605 00
1,113 69
2, 636 32
3,279 11
779 94
645 00
180 65
974 13
114 45
Metal work and castings
Oils and belting
Eepairs
Salt . . .
,
'.
Stationery, printing, and binding
Sundries
Wood
Zinc
Mittens and sleeves
Total..
Salaries
Wages of workmen
Aggregate
A mount.
$S7 34
885 83
1,194 20
65 91
151 00
12, 353 60
4, 960 82
384 12
1, 328 75
73, 287 47 ,
38, 782 89
375, 588 73
487, 659 09
EEMAKKS.—'Assayer's materials" include matrasses, pipettes, dishes,^&c. " D r y goods" include cost of materials for mittens, sleeves, toweling, coin sacks, scale covers, &c. "Sundries"
include such articles as cannot readily be classified.
Coinage for the period: Gold. $6,997,380 ; .silver, $20,645,281.75 ; rainor coins, $17,377.65; total,
7,660,039.40. Bars manufactured: Gold, $529,017.64; silver, $26,825.06.
191
DIRECTOE OF T H E MINT.
TABULATED STATEMENT OF E X P E N D I T U R E S AT T H E U N I T E D STATES M I N T AT
SAN FRANCISCO F O R T H E F I S C A L YEAR ENDED J U N E 30, 188G.
General department.
Expenditures.
Proper.
Acids
Charcoal
Chemicals
Goal
Coke.
Crucibles, covers, stirrers, and dippers . . .
Dry goods
Gas
Gloves and gauntlets
Hardware
Ice
Iron and steel
Lahor and repairs
Assayer's
departMechanment.
ical.
Coiner's
department.
'
$371 41
5,399 13
159 90
1,475 40
132 00
22.3 81
704 53
$1,170 90
694 47
$13 65
159 97
12 22
165 72
$43 50
445 98
2 75
1, 929 25
351 40
12 00
35 50
405 50
41 02
165 00
25 77
18 40
140 91
712 81
663 74
22 38
Total
Aggregate
114 79
33 79
5 192 00
^2, 406 27
316 66
126 85
32 81
163 77
70 60
1, 795 00
382 80
71 25
61 80
357 09
1,182 06
78 54
346 80
1, 769 44
344 62
20 50
,
Salaries
'.
W a g e s of w o r k m e n
26 30
622 25
292 16
383 93
70 38
277 00
94 05
54 75
5 60
Eefinery.
$10 80 $20,203 56
261 84
589 12
1, 413 06
206 68
1, 718 38
1,155 83
107 53
35 10
41 47
427 20
I.......
.Proper.
21 00
20 26
25 15
C
190 00
51 19 1
1
416
62 \C 939
I 3, 502 28
51
213 67
Lumber
Machinery and appliances
1,400 00
Metal work and castings69 25
Oil and belting
212 06
Salt.
Stationery, printing, and C
194 78
I
406 63
binding...
Sundries
2, 621 96
Wood
496 40
Zinc
M e l t e r a n d refiner's
department.
3,165 15
4,116 07
8, 892 39
29, 257 51
25, 300 00
63,247 85
6, 600 00
21, 080 50
5, 000 00
67, 908 24
5, 000 00
22,418 00
29, 405 25
106,107 39
1,353 55 30, 845 65
17, 559 54
1, 353 55
77, 024 31 ^ 36, 310 39 59, 602 76
SUMMAEY.
Expenditures.
Amount.
$21,428 76
Acids
1, 545 43
Charcoal
2, 610 75
Chemicals
7,129 73
Coal
1,155 83
iCoke,...,
Crucibles, covers, stirrers, and
1, 976 55
dippers
1, 261 34
Dry goods
1, 767 56
Gas
714 50
Gloves and gauntlets
—
606 61
Hardware
704 53
Ice
218 25
Iron and steel
C 433 19
Labor and repairs
\ 8, 641 23
552 71
Lumber
Expenditures.
Machinery and appliances.
Metal work and castings . .
Oil and belting
Salt
Stationery, printing, and binding
Sundries
Wood
Zinc
Loss on sweeps.
Mittens and sleeves
Amount.
435 10
898 50
836 50
163 77
194 78
481 88
162 25
709 45
769 44
701 71
243 86
Total
Salaries
Wages of workmen.
64, 344 21
41, 000 00
204. 059 84
Aggregate
310,304 05
EEMARKS.—"Assayer's materials " include matrasses, pipettes, diwShes, &c. " D r y goods " include cost of materials for mittens, sleeves, toweling, coin sacks, scale covers, &c. "Labor
and repairs" include only temporary labor on repairs. " Sundries ". include such articles as
cannot readily be classified.
Coinage for the period: Gold, $27,080,000; silver,,$49,066,20; total, $27,129,066.20. Bars manufactured silver, $1,345,970.72.
192
R E P O R T ON T H E FINANCES.
TABULATED STATEMENT OF E X P E N D I T U R E S AT T H E U N I T E D STATES M I N T AT
N E W ORLEAJ^S F O R T H E FISCAL YEAR E N D E D J U N E 30, 1886.
Expenditures.
A cids
Charcoal
Chemicals -.
Coal
Coke..
Copper
Crucibles, covers, stirrers, and dippers .
Dry goods ....;
'.
Gas....
Gloves and gauntlets .
Hardware
Ice
Iron and steel
Labor and repairs:
Eepairs
Labor
Lumber
:
Machinery and appliances
Metal work and castings
Oils and belting
Salt
Stationery, printing, and binding.
Sundries
Wood
Zinc
Mittens and sleeves
Total
Salaries
Wages of workmen .
Aggregate....
General
department.
Eefinery.
$746
363
455
4,253
1,459
4,538
4,044
552
2,556
151
521
1,220
604
$491 78
4,919
1,100
855
1,050
818
1,093
3
240
4,051
3,468
575 10
14 40
54 00
2 50
44 96
74 40
10 40
21 85
88 55
31 42
.2 00
705
Total.
$1,238 24 .
363 90
455 94
4, 253 47
1, 459 20
4, 553 09
4, 044 15
606 72
2, 556 04
151 70
523 74
1, 220 50
649 88
5, 495 05
1,100 02
855 17
1, 050 00
893 33
1,093 20
13 40
240 90
4,072 88
3,556 70
31 42
707 53
39,774 81
31,862 32
103,996 06
1,411 36
41,186 17
31, 862 32
103,996 06
175, 633 19
1,411 ;
177, 044 55
EEMAKKS.— " Dry goods " include cost of material for mittens, sleeves, toweling, coin sacks,
scale covers, &c. "Labor and repairs " include only temporary labor on repairs. " Sundries "
include such articles as cannot readily be classified.
Coinage for the period, silver, $9,300,000.
TABULATED STATEMENT OF E X P E N D I T U R E S AT T H E U N I T E D STATES M I N T AT
CARSON C I T Y , N E V . , FOR THE F I S C A L YEAR ENDED J U N E 30, 1886.
Gas
Hardware.
Ice..
Labor and repairs
Lumber
Oils and belting
Stationery, printing, and binding.
Sundries
Loss on sale of sweeps
Total
Salaries
W a g e s of workmen
Aggregate.
375
36
35
229
50
12
8
887
355
60
55
91
00
50
50
00
05
48
208 00
356 00
20 31
355 49
875
244
35
585
50
32
8
907
710
60
55
91
00
50
50
00
36
97
1, 990 59
10, 345 12
9,085 50
939 80
2, 930 39
10, 345 12
9, 085 50
21, 421 21
939 80
22, 361 01
Barsmanufactured—gold, $4,296.06; silver, $810.55.
193
DIEECTOR O P T H E MINT.
TABULATED STATEMENT OF E X P E N D I T U R E S AT T H E U N I T E D STATES ASSAY
O F F I C E AT N E W YORK F O R T H E F I S C A L Y E A R ENDED J U N E 30, 1886.
Expenditures.
Acids
Assayer's materials
Belting
.Charcoal
Chemicals
Coal
Coke
.-.
Copper
Crucibles, covers, stiiTers, and dippers .
Dry goods
Fluxes
•
Freight and drayage-.
Gas
Gloves and gauntlets
-.
Hardware
-Ice
— -"'
Iron and steel
General department
Lumber
Macliinery and appliances.
Metal work and castings . .
Mittens and sleeves
Oils and belting
Salt
$17,383 13
722 84
120 00
1,165 32
1,392 02
5,024 99
1,165 32
2,114 86
5,144 99
5,326 91
2,109 35
791 06'
5,326 91
2,150 45
856 18
41 10
65 12
913 77
39 08
27 90
56 85
153 32
797 40
552 30
233 13
20 94
1,812
4,386
877
1,718
2,549
25
84
60
22
73
5 00
Stationery, printing, and binding .
Sundries
Telegraphing
Washing
Wood
Zinc
191 56
' 2,766 14
Total
Salaries
Wages of workmen.
6,617 47
38,828 80
22,909 50
Aggregate
Total.
$503 84
450 GO
560 95
Labor and repairs .
Eefinery.
$17,886 97
1,711
552
272
48
17
30
21
84
2,262
4,947
877
1,775
2,703
25
79
60
07
05
5 00
2,993 73
191 56
5,759 87
231 00
70 00
231 00
70 00
49.435 92
51,061 37
18,355 77 100,497 29
56,053 39
38, 828 80
73,970 87"
168,853 06
EEMARKS.—"Dry goods" include cost of materials for mittens, sleeves, toweling, coin-sacks,
scale covers, &o. " Labor and repairs " include only temporary labor on repairs. ' * Sundries'
include such articles as cannot readily be classified.
Barsmanufactured—gold, $15,820,585.07; silver, $6,721,393.36.
ANNUAL TRIAL OF COINS.
The following gentlemen were designated by the President as coramissioners to test and examine the weight and fineness of the coins
reserved at the several mints during the year 1885, pursuant to the
provisions of Section 3547 of the Eevised Statutes: Hon, Isbarn G-, Har^
H. Ex. 2- 13
194
REPORT ON T H E FINANCES.
ris, United States Seuate ; .Hon. James B. McCreery, House of Eepresentatives ; Thomas K. Bruner, Salisbury, IsT. C.; Prof. T. C. Chamberlin, Beloit, Wis.; Prof. Charles F. Chandler, Columbia College, New
York; Prof. John A. Church, Prescott, Ariz.; Walter. B. Devereux,
Aspeu, Colo; H. L. Dodge, San Francisco; Prof. Thomas M. Drown,
Institute of Technology, Boston; Prof. B. W. Frazier, Lehigh University, Bethlehem,,Penn.; Dr. W. P. Lawver, Bureau^of the Mint, Washington; Prof. J. W. Mallet, University of Virginia, Charlottesville;
Henry T. Martin, Albany, K Y.; Prof. Ira Eemsen, Johns Hopkins
University, Baltimore.
The ex officio members present were, namely: Hon. William Butler,
Judge of the United States District Court for the Eastern district of
Pennsylvania; Mr. Herbert G. Torrey, the Assayer of the Assay OfQce
at ISTew Yorlc.The commission met at Philadelphia on the 10th of February, 1886.
Tests were made of the weight and fineness of the coins reserved
from deliveries at each mint by the coiner to the superintendent in each
month of the year.
^
The Committee on Counting reported as follows:
The packages of coins reserved for assay hy t h e several mints, in accordance with
Section 3539, Revised Statutes, were delivered to us by the Superintendent of the Mint
at Philadelphia. The seals were found intact. The packages were opened and the
coins counted in the following order:
1. Gold coins from the Mint a t Philadelphia, 917 in number, of t h e value of |5,910.50,
2. SUver coins from the Mint at Philadelphia^ 10,195 in numher, of the value of
$9,033.75.
3. Silver coins from t h e Mint at New Orleans, 4,593 in numher, of t h e value of
$4,593. No" gold coins were made at this mint.
4. Gold coins from the Mint at San Francisco, 2,124 in number, of the valueof $22,020.
5. Silver coins from the Mint at San Francisco, 772 in numher, of the value of $751.30.
6. Gold coins from the Mint at Carson, 11 in numher, of t h e value of $220.,
7. Silver coins from t h e Mint at Carson, 114 in numher, o f t h e value of $114 ; mak.ing a total of 18,726 coins, of the value of $42,642.55, as set forth in detail in the
schedule accompanying this report. •
The packages were opened, examined, and counted hy ourselves, and upon comparison with t h e schedules sent to the Director of t h e Mint hy the several superintendents, after correcting a few clerical errors, were found to he correct.
Such of the reserved coins as were required hy t h e Committees on Weighing and
Assaying, respectively, for their purposes, were taken indiscriminately from the parcels in which they were found, so as to include coins from a t least two deliveries of
different dates in each month of 1885, when two or more deliveries weremade in such
month. All of the reserved coins not so taken by either of the Committees on Weighing or Assaying were returned hy us to the Superintendent of the Mint at Philadelphia,
and the coins taken by the Committee on Weighing were subsequently returned to
us and hy us counted, verified, and delivered to the Superintendent of the Mint at
Philadelphia. The hullion-resulting from t h e coins taken hy the Committee on Assaying was returned to ns and by us delivered to the same ofiScer.
The Committee on Weighing reported that—The coins tested by them were all within the legal limit of tolerance.
Also, that, as required by Section 3549 of the Eevised Statutes, the
weights ordinarily used in the Mint at Philadelphia hadbeen tested by
the standard troy pound of the raint and found to be correct.
DIRECTOR OF THE MINT.
195
The Committee on Assaying reported that—
In accordance with the law and regulations governing this Commission, we have
taken samples from the gold and silver coins reserved for assay at the mints of the
United States, to wit, Philadelphia, San Francisco, Carson Oity, and New Orleans, as
stated in annexed schedules, the samples representing the deUveries mentioned ia
the year 1885 from the coiners to the superintendents, and have assayed the same in
mass, and also t h e individual coins; t h a t t h e greatest excess in the assay value of
the gold coinage ahove the standard at the different mints (while the limit of tolerance is one-thousandth) is, a)t—
Philadelphia, .4 of .001.
San Francisco, no coin in excess.
Carbon City, no coin in excess.
The greatest deficiency below t h e standard (the limit of tolerance being one-thousandth) is, a t Philadelphia, .2 of .001.
San Francisco, .6 of .001.
.
Carson City, .2 of .001.
For silver, the maximum assay ahove the standard (the limit of tolerance being
three one-thousandths) is, a t Philadelphia, .2 of .OOL
New Orleans, .9 of .001.
San Francisco, .4 of .001.
Carson City, .4 of .OOL
The greatest deficiency below the standard ,(the tolerance being three one-thousandths) is, at—
' Philadelphia, 1.1 of .001.
NewOrleans, .7 of .001.
San Francisco, L l of.' 01.
Carson City, .9 of .OOL
The Assay Committee has also tested the inquartation silver, the copper, and the
lead used in assaying gold hullion, and found them free from gold. The weights employed were also tested, and found to he correct. The acid used for the humid assay
of silver was carefully tested, and found to contain neither silver nor chlorine in perceptible quantity.
The committee therefore deems the assays exhibited in the foregoing schedules to
^ he trustworthy.
It thus appears t h a t no coin was found among those examiued which deviated from
the standard fixed hy law beyond the legal tolerance.
Whereupon the Commission reported—
' •
That the Assay Commission.having examined aud tested the reserved coins of the
several mints for the year 1885, aiid it appearing t h a t these coins are within the tolerance prescribed hy law, t h e trial is considered and reported as satisfactory.
The trial of the coins by the Assay Commission showed that the average fineness of 428 pieces of the gold coinage of the mints at Philadelphia and San Francisco, melted in mass, was .899937, and of 39 pieces
tested singly, .899894.
The monthly tests made during the year in the Assay Laboratory
under my direction showed an average for 142 pieces, tested singly, of
.899942, corresponding almost exactly with the results of the Annual
Commission. The Commission ascertained that the average fineness of
1,600 pieces of the silver dollars coined at the several mints, melted in
mass was .900040, and of 30 pieces tested singly, .899883.
The monthly tests made in the Labcuatory of this Bureau showed an,
196
REPORT ON T H E FINANCES.
average fineness of 265 silver dollars, tested singly, of .900048. The result of both the annual and monthly tests served to demonstrate that
the coinage of the year was very close to the standard fixed by law,
notwithstanding the magnitude of the coinage operations of the year.
VALUE OF FOREIGN COINS.
Pursuant to the provisions of section 3564 of the Eevised Statutes of
ihe United States, the values of the standard coins of the various nations of the world were estimated by me and proclaimed by the Secretary of the Treasury on 1st January, 1886. The values of said metallic
currencies adopted in the custom-houses for the determination of foreign
units of value on and after January 1, 1886, were as follows:
VALUES OF F O R E I G N COINS.""
boSP
Country.
Argentine Repubhc
:
Austria
Belgium
Bolivia
Brazil
British Possessions, N. A . .
ChiU
Cuba
Denmark
Ecuador
Egypt
Ei-ance
^G-erman Empire
GreatBritain
Greece
Hayti
India
Italy
-..
Japan
Liberia
Mexico
^Netherlands
-..
ITorway
•
Peru
.Portugal
Russia
Spainj
Sweden
Switzerland
Tripoli
Turkey
United States of Colombia
Venezuela
Monetary unit.
Peso
Florin
Franc
Bohviano
Milreis of 1,000 reis . . .
Dollar
Peso...
Peso
Crown
Peso
Piastre
Franc
Mark
Pound sterling
Drachma
Gourde
Rupee of 16 annas
Lira
Yen
Dollar
Dollar
Florin
Crown
Sol..:
:..-Milreis of 1,000 reis . . .
Rouble of 100 copecks
Peseta of 100 centimes
Crown
Franc
Mahbub of 20 piastres
Piastre
Peso
—
Bolivar
Standard.
Double
Single silver.
Double
Single silver.
Single gold .-.
Single gold ..
Double
Double
Single gold ..
Single silver,
Single gold ..
Double
Single gold ..
Single gold ..
Double . .
Double
Single silver.
Double
Single silver.
Single gold ..
Single silver.
Double
Single gold .
Single silver,
Single gold .,
Single silver
Double
Single gold.
Double
,
Single silver
Single gold.,
Single silver
Double
$0. 96, 5
.37,1
. 19, 3
.75,1
.54,6
1.00
. 91, 2
.93,2
.26,8
.75,1
.04,9
.19,3
.23,8
4.86,6^
.19,3
.96,5
.35,7
.19,3
.81,0
1.00
.81,6
.40,2
.26,8
.75,1
1.08
. 60,1
.19,3
.26,8
.19,3
.67,7
.04,4
.75,1
.19,3
197
DIRECTOR OF T H E MINT,
The method of estimating the value of these coins is explained in the
following communication from the Oomputer of Bullion of this Bureau:
TREASURY DEPARTMENT, BUREAU OF T H E M I N T ,
Washington, D. C , Decemher 26, 1885.
SIR :. I have tbe lionor to transmit herewith a table sbowing the values of t h e
standard coins in circulation in the various nations of the world.
The values of the gold coins have been ascertained by comparing the amount of
pure metal in each as fixed by the coinage laws of the respective countries w i t h t h a t
contained in the United.States gold dollar. The values of the silver coins of the
countries of the double standard are given at the same valuation as the gold coins of
such countries with which they are interchangeable.
The values of the silver coins of countries in which silver is the standard of value
have been estimated to be the marjset value of the pure silver contained in such coins
based on the average price of silver bullion in London for the three months endiug
December 24, 1885, viz, 47.35795 pence per ounce, British standard, equivalent to
$1.038141 per ounce fine.
Very respectfully,
E. O. LEECH,
. Computer of Bullion.
D R . J A M E S P.
KIMBALL,
Director of the Mint.
The market value of silver at which the silver coins were computed
on 1st January, 1885, was $1.099465 per ounce fine, and the rate at
which the silver coins were computed for 1886 was $1.038141, a decline
of over six cents per ounce fine in the price of silver during the year.
This occasioned a change in the value given the following coins:
Coins.
Value January 1, 1885.
Florin of Austria
Boliviano of Bolivia
Peso of Ecuador
Rupee of India
Yen of Japan
Dollar of Mexico
Sol of Peru . .
Rouble of Russia
Mahbub of Tripoli
Peso of TJnited States of Colombia
IMPORTS AND EXPORTS OF G-OLD AND SILVER
.39,3
.79,5
.79,5
.37,8
.85,8
.86,4
.79,5
.63,6
.71,7
.79,5
Value January 1, 1886.
.37,1
.75,1
.75,1
.35,7
.81
.81,6
.75,1
.60,1
.67,7
.75,1
COIN AND BULLION.
The value of the gpld bullion imported into the United States during
the fiscal year 1886, as registered at the custom-houses, was $4,073,458, and
the amountof gold bullion exported during the sameperiod $27,365,090.
The United States therefore lost by export of gold bullion during
the year $23,291,632, O f t h e gold bullion exported, all except abont
$1,000,000 worth consisted of United States mint and assay ofiSce
198
REPORT ON THE FINANCfiS.
bars. The export of gpld bullion seemed to commence in December,
1885, reaching its height in the month of March, when oyer $7,000,000
worth was exported, while the imports of gold bullion were almost entirely in the early part of the fiscal year.
The amount of gold bullion deposited at the mints and assay offices
during the year, classified as " foreign bullion,'' was $4,317,068.28
against $4,073,458 registered at the custom-houses as having been
imported—^practically the same amount. This is important as affording
additional evidence that the classification of bullion at the mints and
assay offices as between foreign and domestic production is practically
correct.
The^import of gold coin into the United States during the year was—r
Of American gold coin
Of foreign gold coin
| i ; 687,231
14,982,660
Total
16,669,891
The amount of gold coin exported was, of American $5,400,976, and
of foreign $10,039,941. Hence a net export of American gold coin of
$3,713,745, and a gain by import of foreign coin of $4,942,719. The
latter corresponds very nearly with theamountof foreign gold coin deposited at the mints and assay offices during the year, namely, $5,673,565.03. The excess of the foreign coins deposited at the mints over and
above the amount registered as imported at the custom-houses may be,
assumed to have reached this country on the persons of immigrants and
travelers.
The imports of silver bullion during the year amounted to $4,151,438,
reckoned, presumably, at the commercial value of silver. The exports
during the same year amounted to $18,693,313, of which $14,217,273
consisted of bullion not* bearing the stamp of a United States mint or
assay office. The net excess of the exportation of silver bullion over
the importation of the same during the year was $14,541,875. The
amount of silver bullion other than bars imported into the country was
$1,872,628.
The imports of silver coin during the year amounted to—
Foreign
American
To'tal.1.....
$13,178,589
520,280
,
y..
13,698,869
The exports of American coin were $464,738, of which $354,848
consisted of trade-dollars: The exports of foreign silver coin were
$10,315,918, the total silver coin exported being $10,780,656. The excess cf the manifested imports of foreign silver coin over the manifested exports of the same auiounted during the year to $2,862,671.
The value of foreign silver coins deposited at the mints and assay
offices of the United States to be^ melted amounted to $812,664.51.
From this it seems that over 2,000,000 of for.eign silver coin remained
in the [Jnited States during the year.
DIRECTOR OF THE MINT.
199
The total imports of silver, including bullion and coin, foreign and
domestic, amounted to $17,850,307 against $29,511,219 exported. The
total imports of bullion and coin, goid and silver, during the year
amounted to $38,593,656, and the total exports to $72,463,410.
COIN CIRCULATION OF T H E UNITED STATES.
In presenting an estimate of the stock of gold and silver coin in.the
United States, in my report for the fiscal year 1885, it was stated that,
owing to the brief period whichhad elapsed since entering upon the
^duties of Director of the Mint, I was obliged, from lack of opportunity
to make a full investigation of the subject, to accept with a slight
change the estimate of my predecessor of the stock of coin in the United
States on 1st of July of the previous year, as a basis for preparing an
estimate for 1st July, 1885. The only change made by me in the estimate of my predecessor was a deduction from the stock of gold coin
estimated to be in the country of $30,000,000, as a moclerate estimate of
the amount of gold coin consumed in the arts and manufactures in the
seven years, 1874-'80, for which years ho deduction had been made by
the Director for the annual industrial consumption cf United States
gold coin.
^
Since my estimate of July 1, 1885, was prepared, I have been able to
give more careful consideration to the subject of the stock of metallic
money in the United States, and have been led to a further modification
of the previous estimates of the Bureau.
In preparing a. revised estimate ofthe coin circulation, I now further
deduct the sum of $15,669,981, being the value of the gold bullion at
the mints and the Assay Office at IsTew York on June 30, 1873, and not
deducted by the Director in making an estimate of the stock of coin in
the United States., That is to say, this amount of bullion was included
in the stock of coin on hand July 1, 1873,
It is true that over $10,000,000 of this amount, credited in the mint
accounts as bullion, was light gold coin awaiting recoinage, but as this
is included in the coinage of subsequent years, it is necessarily elimiuated from the basis, namely, the estimate of Dr. Henry E. Linderman
of the metallic stock in the country July 1,1873. I have still further
deducted the sum of $4,654,714. an error to this amount occurring in the
excess of exports of gold coin over imports of the same during the .fiscal
year 1874. From the circumstance that Dr. Linderman's estimate was
published November 1, 1873, the net exports as compared with the imports for the eight montbs subsequent to that date were taken, as now
appears, whereas Dr. Linderman's estimate was for the date of June 30,
1873, and the net exports for the entire fiscal year 1873-'74 should have
been taken.
Footing up the sum of these deductions—$20,324,695—with the
$30,000,000 deducted in my estimate July 1, 1885, we have a total de-
200
REPOIRT ON THE FINANCES.
duction of $50,324,695 from my predecessor's estimate of the stock of
gold coin in the United States.
'
The following revised estimate of the coin circulation of the United
States, July 1, 1885, is appended :
R E V I S E D ESTIMATE OF C O I N CIRCULATION OF THE U N I T E D STATES, J U L Y
1, 1885.
Items.
Estimated circulation July 1, 1885
'...
Deduction:
For buUion in Treasury, July 1,
1873, hitherto included in estimates of coin
$15, 669, 981
For error in exports for 1874
4, 654, 714
Revised circulation July 1 1885
Gold.
$542,174, 636
Silver.
$278, 824, 201
20, 324, 695
521, 849, 941
Total.
$820,998,837^
20, 324, 695
278, 824, 201
800, 674,142
In preparing an estimate of the stock of United States coin in the
country July 1, 1886, I have, for reasons which appear to me decisive,
followed the method heretofore employed by this Bureau, taking as a
basis ah ascertained amount or a conventional estimate of a given date,
and adding the increase every year by net coinage; that is, the coinage
of the mints of the United States, less the deposits of United States
coin for recoinage, together with the actual gain by import of United
States coin, and deducting the actual loss by export of our own coin
and an estimated amount, from the best ascertainable data, of the industrial consumption of United States coin.
In support of this method, it is to be considered, first, that the coinage ofthe country is a definitely known quantity; second, that the imports and exports of coin are now well classified a t t h e custom houses.
All dther estimates, so far as I am aware, are based on the estimated
production of the mines of the country and on the total registered imports'and exports of coin and bullion. Such estimates, therefo^^e^ aS:
sume for their principal component a quantity which has never been
and probably never can be, made a matter of positive statistics, and
which, even when worked out to a close approximation in the special
reports of this Bureau, has been a matter of contention as between different estimates put forth by other compilers.
As compared with estimates so compiled, it may be confidently claimed
that an estimate based on the net coinage of the mints, and the net gain
or loss of our own coin by import or export, with reasonable allowance
for industrial consumption, is a more scientific and exact method of
arriving at the actual stock of United States coin in the country.
The only factor in this estimate open to question may be said to be
the amount of coin consumed in the arts and the amount brought in
201
DIRECTOE OP THE MINT.
and taken out on the persons of immigrants and travelers. In regard to the industrial consumption, as more fully explained in another
portion of this report, the greatest pains have been taken to obtain
definite information on this subject. From the results of the most recent inquiries made under my own direction, I am of the opiuion that
the consumption of gold coin in the arts during the calendar year 1885
did not exceed $3,500,000, which, until better data are obtained, will
be used as the estimate of the annual gold coin cousumption of the
United States.
In regard to the amount of gold and silver coin of our own coinage
brought into the country and taken out by travelers, it is impossible
to obtain definite information. I t is not believed, however, that any
considerable ainount of gold coin is brought to these shores by immigrants on their persons, other than foreign coin, which, as a rule, is
exchanged for United States money on- arrival. This view has been
strengthened by informatibn from the coin brokers at Castle Garden
and elsewhere in the city of E^ew York. As a matter of fact the excess
of the amount brought to this country by travelers over and above that
taken out, or vice versa^ can hardly appreciably affect the coin stock of
the country.
The following is my estimate of the stock of United States coin in the
country July 1,1886:
1
ESTIMATE O F C O I N CIRCULATION, J U L Y 1, 1886.
1
Items.
Oold.
11
1 Revised circulation, July 1,1885
H Coinage for fiscal year 1886
11 "NTftf. iTirnort.a
.
1
1
1
1
j
1
Total
Less denosits for recoinaEre
Net exnorts
.
....
Used in the arts
0
^
-
(
, . . . . $521, 849, 941 - $278, 824, 201
34,077,380
30, 022, 347
410, 390
555,927, 321 309, 256, 938
. ......
................'.....
Total
Estimated circulation July 1, 1886
Silver.
393,545
3,713,745
3, 500, 000
272,715
200, 000
7,607,290
472,715
548, 320, 031
308, 784,223
Total. •
$800,674,142
64,099,727
410,390
865,184,259. | |
666,260 II
3,713,745 1
3,700,000 1
8,080,005 II
857,104,254
j
No deduction has been made in the above estimate for exports of
trade dollars ($354,848) for the reason, as explained in my last annual
report, that the entire amount of trade dollars supposed to be in the country has already been eliminated (as uncurrent money) from the estimate
of the Bureau of the coin in the country.
The amount of trade dollars deposited at the mints during tiie fiscal
year, and included in deposits of ^^ United States coin," viz, $6,577, has
for the same reason^been deducted from the deposits of United States
silver coin for recoinage.
•
202
REPORT ON T H E FINANCES.
The stock and ownership of the gold and siiver coin in the United
States July 1,1886, are exhibited in the following table:
STOCK AND O W N E R S H I P O P GOLD AND S I L V E R C O I N I N T H E U N I T E D STATES,
, J U L Y 1, 1886.
Silver coin.
Ownership.
Gold coin.
FuU legal
tender.
Subsidiary.
Total.
Total gold
and silver.
*$113,485,228 t$93,137,341 128,904,681 $122, 042, 022 $235,527,250
Treasury
$.8, 569, 553 2, 913, 304
11,482,857
157,459,874
National banks
•-... +145, 977, 017
State banks, trust companies, and savings
i|31,255, 789 > 132, 016,392 43, 242,952
175, 259, 344 464,117,130
banks
Otber banks and private
257,601,997
bands
Total
548,320,031
233,723, 286
75,060,937
308,784,223
857,104, 254
^Exclusiveof outstanding gold certificates ($76,044,375).
t Exclusive of outstanding silver certificates ($88,116,225).
J Includes Treasury and clearing-bouse certificates ($68,313,430).
§ Includes silver certificates ($1,812,290).
II Eeported to Comptroller of the Currency, November 1,1885. Includes certificates.
The amount of certificates, both gold and silver, held by the public
has been deducted from the amouut of coin in the Treasury and added
to the stock of coin in active circulation, for the reason that these certificates represent coin in the Treasury, which can be used only in their
redemption, and which, in reality, therefore forms a part of the actual
coin circulation of the country.
In addition to the coin in the country July 1, 1886, there was gold
and silver bullion in the mints and assay offices belonging to the Government and available.for coinage, as follows:
Gold bullion
Silver bullion (cost)
|42,454,430 23
3,468,620 67
This amount added to the estimated stock of coin gives as the total
stock of coin and bullion available for cpinage July 1, 1886, the sum
of $903,027,304.90. Assuming that the amountof coin and bullion is
as stated above, and taking into consideration the other circulating
mediums used as money, viz, gold and silver certificates, national-bank
notes, and United States notes, the stock of money appears from the
official stateinent of assets and liabilities of the Treasury, and from the
statement of the Comptroller of the Ourrency as to the condition of the
uational banks to have been distributed, July 1,1886, as follows:
203
DIEECTOR OF THE MMT.
FORM AND DISTRIBUTION OE TOTAI. CIRCULATION, JULY 1,
Classificatioii.
Grold bullion
SQver bullion
Gold coin
Silver dollars
Subsidiary silver coin
Oold certificates
Silver certificates
United States notes
National-bank notes
Fractional (paper) currency.
Total
I n Treasury.
I n other
I n National banks and
general circu. banks.
lation.
1886.
Total.
$42,454,430
$42,454,430
• 3, 468, 620 .
3,468, 620
189, 529,603 t$104, 530, 587 $254, 259, 841 548, 320, 031
.233,723,286
6,757, 263
45,712,457
181,253, 566
75, 060, 937
2,.913, 304
43, 242, 952
28,904,681
131,174, 245
41,446,430
34, 597,945
55,129,870
115,977,675^
1, 812, 290 86,'303, 935
27, 861,450
79, 656,783 225, 963, 362 +346,738,461'
41,118, 316
311, 699,454
25.129, 938 282, 535,100
4,034,416
§6, 954,087
452, 361
6,499,059
2,667
573,757, 619
262, 698, 956
979,114, 650 1 , 8 1 5 ^ , 225
* Includes $18,250,000, held as special deposit on account of currenoy certificates.
tincludes $26,867,000, gold clearing-house certificates.
tincludes old demand notes.
§ Exclusive of amount estimated to have been lost or destroyed. Act June 21,1879.
While the revision of the Bureau's estimate here presented will tend
toward results given by other authorities, such results appear to have
been derived not entirely from actual statistics or official returns, but
mainly from collateral information and personal belief as to the actual
visible circulation of metallic money, as distinguished from what I have
designated the potential circulation or the circulation of record. I t
will be obvious that as between the visible coin circulation of the United
States and the potential circulation there must exist an uncertain quantity, corresponding to the amount of coin which is withdrawn not only
through its subversive use in place of bullion by small manufacturers
too numerous to canvass, but also through its more or less permanent
sequestration in numismatical collections, by loss irom deperdition or
waste, from undiscovered hidings, and from loss by conflagration on sea
and land, and by shipwreck.
The efibrts of this Burean in estimating the stock of metallic money
in the country have been directed solely with a view to arrive at some
definite amount as shown by official statistics. The efforts have been
unrestrained by anything like inclination or intention to establish or
sustain any theory as to the actual amount existing.
The principal difference between the estimate of the stock of metallic
money in the country by the Director of the Mint and the estimates
by other authorities, is to be found in the item of industrial consumption. As the Bureau has spared no pains to obtain by personal inquiry the best information as to this amount, it may be claimed that
the estimates of the Bureau in this respect are entitled to acceptance
204
REPORT ON THE FINANCES.
in lack of anything in the same line laying claim to equally careful and
methodical treatment.
There is a tendency among some writers on the statistics of the precious metals, in computing the stock of metallic money in the country,
to overrate the industrial consumption. In certain instances, when
the estimates of this Bureau have been taken as a basis for such private
estimates, it seems that allowances of one or another kind have been
made, supplemental perhaps for incompleteness of returns to the Bureau. While it is doubtless true that some firms and persons using gold
and silver have not been reached by the circulars of the Bureau, the
number is believed to be comparatively small. Moreover, an increment
covering their presumed transactions has usually been allowed for in
the estimates of the Bureau itself, with the advantage of much special
experience iu the matter, which is not always set forth in its reports.
The reports to the Bureau may be claimed to fairly represent, within
at least a small fraction, supplemented by its own estimate, the actual
consumption in the industrial arts, and no further allowance can be
warranted.*
PRODUCTION OF GOLD AND SILVER IN THE UNITED STATES.
In my special report to Congress on the Production of the Precious
Metals in the United States during the calendar year 1885, the subject
of the production of the mines of the United States during that year
was fully treated. The basis and method of my estimate were given
and explained. The estimated production of the mines of the United
States for the calendar year 1885 was stated to have been as follows:
Gold
Silver
.«*.
Total
131,800,000
51,600,000
'...
83,400,000
In the above estimate silver was reckoned at its coining rate in silver
dollars. This is necessary for several reasons, the principal one being
that owing to the fluctuating price of silver it is impossible to form a
comparison with previous years without the adoption of some uniform
value.
As many of the reports on which the estimate is based, especially
the custom-house returns, are given in value, it has been the practice
to make the estimate of production in values instead of'^ ounces.
The following table exhibits the production for the calendar year
1885, and approximate distribution of the same by states and territories:
* See Report on the Production of the Precious Metals, for 1885, by Director of the
Mint, pp, 47, 65.
205
DIEECTOE OF THE MINT.
APPKOXIMATE DISTRIBUTION, I N R O U N D N U M B E R S , B Y STATES AND TERRITOR I E S , OP THE ESTIMATED TOTAL PRODUCTION OF P R E C I O U S METALS I N T H E
U N I T E D STATES F O R 1885.
State or Territory.
Gold.
Alaska
Arizona
California
Colorado
T
Dakota
;
Georgia
Idaho..
Montana
;
Nevada
New Mexico
.
North Carolina
.=...
Oregon
South Carolma
TJtah
Washington.
1
Texas, Alabama, Tennessee, Virginia^ Vermont, Michi
gan, and Wyoming
Total
Silver.
Total.
$2, 000
$300,000
3, 800, 000
880,000
2, 500, 000
12,700,000
4, 200,000 15, 800, 000
3, 200,000
100, 000
136,000
3,500,
1,800,000
3, 300, 000 10,060,
3,100, 000 ,6, 000,
3, 000,
800, 000
3,
152,000
10,
800, 000
43, 000
180,000
6, 750,
120, 000
70,
90, 000
$302, 000
4,68C, 000
15,200, 000
20, 000,000
3,300, 000
136, 000
5, 300,000
13, 360,000
9,100, 000
3,800, 000
155, 000
810, 000
43, 000
6, 930,000
190, 000
5,000
95, 000
31,801,000 I 51,600,000
83,-401, 000
In order to compare the estimated production for the calendar year
1385 with that of the previous year. the following table is inserted:
COMPARISON O F ESTIMATES O F PRODUCTION O F T H E U N I T E D STATES, B Y
STATES AND T E R R I T O R I E S , F O E 1884 AND 1885.
•
Gold.
Total.
Silver.
j
|
1
State or Territory.
1884.
Alaska
Arizona . . . . . . . . . . .
California
Colorado
Dakota
Georgia
Idaho
Montana..
ISTew Mexico
North Carolina
Oregon . . . . . . . . . . . .
South Carolina
TJtah
Washington
Texas, Alabama, 1
Tennessee, Virginia, Vermont, >
Michigan, and
Wyoming.
J
Total
1885.
1884.
1885.
1884.
$200,000
$300,000
$2, 000
$200,000
880, 000 $4,500,000
3,800,000
5,430, 000
930,000
3,000, 000
2,500,000 16, 600,000
13,600,000 12,700,000
4,200,000 16,000,000 15, 800, 000 20, 250,000
4,250,000
3,200,-000
150, 000
100, 000
3, 450, 000
3,300,000
136,000
137, 000
137,000
1,800,000
2,720, 000 3,500,000
1,250,000
3, 970, 000
3.300,000
9,170, 000
2,170, 000
7,000,000 10,060,000
3,100, 000
3,500,000
5, 600, 000 6, 000, 000 9,100, 000
800, 000
3,000,000
3,300, 000
3,000, 000
300,000 ,
152, 000
3,000
160, 500
157,000
3,500
800,000
10,000
660,000
20, 000
680,000
43,000
57,500
57,000
500
180,000
6,750,000
-120,000
6,800, 000
6, 920, 000
70,000
86,000
85,000
120,000
1,000
1885.
$302,000
4,680,000
15,200,000
20,000,000
3,300,000
136,000
5,300,000
13,360,000
9,100,000
3,800,000
155,000
810,000
43,000
6,930,000
190,000
1
1
1
1
1
1
1
1
1
1
1
84,000
90,000
5,000
5,000
89,000
95,000
j
30,800,000
33,801,000
48, 800, 000
51, 600, 000
79, 600, 000
83,401,000
1
206
REPORT ON T H E FINANCES.
It will be seen that the production of gold increased during the calendar year 1885 over that of the previous year about $1,000,000, and
that, notwithstanding the depreciation in the market value of silver, the
total production of that metal in the Ilnited States increased from
$48,800,000 in 1884 to $51,600,000 in 1885, an increase of $2,800,000.
This is a remarkable fact, as it was generally believed that the
price of silver had reached such a point that the production would naturally decline. Considering this question, it is important to remember,
as stated in my special report on production, that the conditions of
supply are in the case of the precious metals not so dependent on the
conditions of demand as in the case of other commodities. I t is also
well knowu that a very large portion of the silver product of the country is practically a by-product, incidental to the production of gold and
the baser metals. In cases where the reduction of silver is alone for
the recovery of that metal, a check to production has necessarily followed from the fall in its price. But in other and the more important
cases where silver is recovered Incidentally to the reduction of gold,
copper or lead, the fall in price has had but little eftect upon the production of the mines. While the fall in price naturally tends to reduce
the number of producing mines and to discourage new silver-mining
ventures, with the obvious eftect, already ascertained as a fact, of turning the attention of miners from poorer to richer ores, and from deposits
carrying largely silver to those carrying more gold, the output of the
miscellaneous ores of the precious metals of the mines of the United
States has been so great that the fall in the price has not yet had the
effect of diminishing the quantity of silver produced, as compared with
past aggregates.
Unless the decline in the price of silver is checked, either by improved
economic conditions or by legislation, the day cannot be far distant when
many of the mines of the United States at present producing silver will
cease to be profitable, and a falling off in the production may be expected.
A brief discussion of this sabject will be found in my Eeport on the
Production of the Precious Metals in the United States, 1885.
In the Appendix will be found a table showing the estimated value of
the gold and silver produced from the mines ofthe United States from
1792 to the close of 1885,
Also a table, compiled by Dr. Soetbeer, estimating the annual production of the precious metals in the world since the discovery of America.
PRODUCTION OF GOLD AND SILVER IN THE WORLD DURING 1 8 8 5 .
In the Appendix will be found a table giving the estimated production of the mines of gold and silver during the calendar year 1885, expressed in kilograms and dollars. This table has been compiled mainly
from special information officially communicated to this Bureau on the
part of foreign governments and from other authentic sources.
DIRECTOR
207
OK THE MINT.
Tables will also be found giving estimates for 1682. 1.S83 and 1884,
revised according to the latest information.
The estimated production of gold in the world during the calendar
year 1885, in round numbers, amounted to $101,580,000, and of silver,
calculated at its coining value, to nearly $125,000,000.
The production of gold in the world has remained almost steadfast
for a number of years, as will be seen from the following table of the
Bureau's latest estimates:
G O L D . — P R O D U C T I O N OF THE V7ORLD.
Calendar years.
Amounts
$106,000,000
103,000,000
102,000,000
1880
1881
1882
Years.
1883
1884
1885
Amount.
$97, 000, Opo
99, 000, 000
101, 500, 000
I t is a curious fact that, notwithstanding the large depreciation in
its value the production of silver in the world has progressively in
creased3 as shown by the following table of the Bureau's latest estimate:
S I L V E R . — P R O D U C T I O N O F THE W O R L D ,
Calendar years.
1880
1881
1882
Tears.
Amount.
$96,700,000
102, 000,000
111, 000,000
1883
1884...
1885
Amonnt.
$117, 000,000
116, 500, 000
124, 900, 000
The production of gold in 1884 was stated in my report for the fiscal
year 1885 to have been, in,round numbers, $95,000,000. But official returns show that the production of Australasia was over $2,000,000 more
than the amount put forth in my estimate, based upon deposits at the
Melbourne and Sydney mints; and ofTenezaela $1,300,000 more; thus
increasing the aggregate of production for 1884 to almost $99,000,000.
The production of gold for 1885 approximated $101,500,000, which is an
increase of $2,500,000 from 1884.
The increase in the production of silver from $116,500,000 in 1884 to
nearly $125,000,000 in 1885 was principally on the part of the United
States and Mexico, the production of the former being $2,800,000 more
than in 1^4, and of the latter about $5,000,000.
Australia, for the first time, also appears as a producer of a considerable quantity of silver.
208
REPORT ON THE FINANCES.
Heretofore Australia has been credited only with the silver parted
from gold deposits at the Melbourne and Sydney mints. The official
statistics for 1885 show a production of silver valued at $1,048,279
(United States coining value).
The United States still preserves the first rank among the nations of
the world as the largest producer of the precious metals, its production
of gold and silver for the calendar year 1885 having reached the sum
of $83,400,000, out of a total production of $219,000,000, or about twofifths of the production of the world.
The neigliboring republic of Mexico occupies second place, with a
recorded production of over $32,000,000. Australia comes next, with a
production of nearly $31,000,000. Eussia takes fourth rank, with a production of $26,000,000, principally gold. Bolivia is also a large producer, the production of silver in that republic being officially returned
at $16,000,000.
CONSUMPTION OF THE PRECIOUS METALS IN COINAGE AND IN THE
". ARTS.
^ In the Appendix will be found tables showing the consumption by the
various countries of the world in coinage for the calendar years 1882,
1883, 1884, and 1885.
A table will also be found, compiled mainly frohi official communications, showing the coinage of the precious metals from the earliest ascertainable period, or, in some cases, from a period in which a new system
of coinage was introduced.
The coinage of gold by the different nations of the world for the last
few years is shown in the following table:
COINAGES OF GOLD B Y T H E NATIONS OF T H E W O R L D .
Calendar year.
Calendar year.
1880
1881.
1882
.. .... .
J
$149, 725, 000
147, 000, 000
i99, 697,000
1883
1884
1885
'
$104,845,000
99,459, 000
94,573, 000
1
1
1
What proportion of the coinage consisted of new material, andwhat
proportion of coins remelted and of old material used over, cannot be
accurately ascertained. In the case of the United States "^the value
of domestic gold coins deposited at the mints during the year was
$370,358; of foreign coins $7,548,919; and of old jewelry, plate, &c.,
$1,860,397. As these values formed a portion of the coinage of that
year, or else will enter into that of the following year, it seems that vat
least $9,500,000 worth of the gold coinage ofthe United States consisted
of melted coins or old material used over.
DIRECTOR OF THE MINT.
209^
In the case ofthe English coinage, the deposit's of light-weight gold
coin amounted during the year to about $6,000,000. Probably the great
bulk of the English gold coinage consisted of coins remelted.
. Of the European nations generally it appears that with the exception
of Eussia, which coins the production of its own mines, by far the larger
portion of the coinages of gold consisted of coins melted down. This
may be placed at about $8,000,000.
Some $24,000,000 of the $94,500,000 of gold consumed in coinage
during the year appears to have consisted of old coins remelted and
old material used over, leaving $70,000,000 as the value of the new gold
used in coinage during the calendar year 1885.
Estimating the production of gold in the world at $100,000,000, would
leave $30,000,000 for consumption of new materia! in the arts and manufactures.
The coinage of silver during the calendar year 1885 amounted to
nearly $97,0i)0,000. Probably not more than ten per cent, of this consisted of old coins or old material melted oVer. This would leave, say,
nearly $90,000,000 for consumption of new silver in coinage. Estimating the production of silver in the world during the calendar year 1885 at
about $124,000,000, would leave for industrial consumption $30,000,000,
which would be larger than the entire amount of silver generally supposed to be consumed in the arts.
As the use of gold and silver as raw material in the arts and manufactures has become so important an element in the„estimate of the production of the precious metals, and also in Mie estimate of the stock of
metallic money in the country at any given period, I have continued
the efforts of my predecessor to secure accurate statistics of the consumption ofthe precious metals in the United States by circular letters
addressed to firms supposed to be engaged in the manufacture or repair of articles of gold and silver.
In response to 8,054 circulars sent out by the Bureau, replies were
received from 4,380 of the number addressed, of which 2,707 reported
a consumption of $11,152,120 in gold and $4,598,413 in silver.
H. Ex. 2 — 1 4
210
REPORT
ON T H E FINANCES.
The result of the inquiry'is presented in the following tables:
STATEMENT SHOWING T H E V A L U E AND CHARACTER O F T H E GOLD AND S I L V E R
USED IN THE A R T S
AND MANUFACTURES DURING THE CALENDAR YEAR
1885, AS REPORTED BY THE PERSONS AND FiRMS ADDRESSED.
GOLD.
bi)
Manufactures.
1
1
1
1
d
Is
OD
01
ll
1
•i
2
S) •-2 a
t3
IS
3P.O
Ul
1
$32,040 ^ $13,903
257,741 218,831
$29 $4, 341
$6,063
$801 178, 510 24, 295 15, 537
$56,376
695,715
7,433
58,150
34,886
527,453
990 3,526 6,753
2,867
2,000 31, 050 19,700 39, 001
56,455
677, 354
47
3,970
149,186
100 14,942
2,400
4,188
174,786
79
27
52^707
62,420
116,604
44,168
642 16, 269
8,000 17,337
314
1,000
2,291
3,835
134,643
190,944
Chemicals
Platers
Gold-pen in a n u facturers
Gold and silver leaf.
Dental and surgi-
341
634
219
348
39
226
34
72
22
51
11
46
cal instruments..
Spectacles and op-
154
98
ticals
Miscellaneous
Jewelry
and
383
217
73
.
106
watches
6,330 3,352 2,232 2,298,733 5,183,187 164, 503 582,554 451,629 485,241 9,165,847
Total
8,054 4,380 2,707 2,827,378 6,234,034 178,913 847,715 502,893 561,187 il, 152,120
SILVEE.
Chemicals
Platers
Gold-pen m a n u facturers
Gold and silver leaf.
Dental and surgical instruments..
$91! $305,165
|$73,561
$106 $2,165
32,824|1,990,587 $25,434 43,1911 12,798;i57,922 2,262,756
55
3,191
249|
708
21,8811
4,682
Spectacles and opticals
Miscellaneous
Jewelry
and
watches
558
20 23,512
107,717' 1,401| 7, 057 4,450
2,587
42,4241
838
5,330
155
4,058
46,121
127,801
2,750
210
942
268
70
1,017
49,068
7,523
92,567 1,360,308 35,718 117,629 85,060 28,716 1,719,998
Total.
133,644 3,836,603 62,708 245,413 103,272 216,773 4,5.98,413
CHARACTER AND V A L U E
OF T H E PRECIOUS METALS REPORTED
B Y MANU-
FACTURERS, J E W E L E R S AND OTHERS, , USED B Y THEM DURING T H E C A L E N DAR Y E A R . 1885.
Gold.
Character.
United States coins
Stamped TJnited States or refinery bars
Foreign coin
Old jewelry, plate, and other old materials
Native grains, nuggets, &c
Wire or rolled plate
Total.....
.;..
$2,827,378
6,234,034
178,913
847,715"
502,893
561,187
11,152,120
Silver.
Total.
$133,644
$2,961,022
3,836,603
10,070,637
62,708
245,413
241,621
103,272
216,773
1,093,128
606,165
777,960
4,598,413
15,750,533
211
DIRECTOR OF THE MINT.
One of the most important results of this iuquiry is the clear indication
of a reduced consumption in the United States of the precious metals
in the arts, and especially of a largely reduced consumption of United
States coin. The consumption of United States gold coin reported in
response to this inquiry amounted to $2,827,378, against $4,875,587
reported for the calendar year 1884, by almost exactly the same number of firms, a falling off* of $2,000,000.
In order to ascertain definitely whether the large falling off in the
consumption of gold, indicated to the Bureau by the returns of the recent canvass, in comparison with that of 1884 is attributable to an
actual reduction in the use of the precious metals or to failure on the
part of the Bureau to secure complete returns, a comparison has been
made between the returns for the years 1883 and 1885. This comparison
shows that some forty firms, each reporting a consumption exceeding
$50,000 in value per annum, and comprising the largest gold and silver
manufacturing establishments in the United States, reported to this
Bureau a consumption during the calendar year 1885 of $3,891,245 gold
and $987,248 silver, against reports by the same firms for the calendar
year 1883 showing the use of $5,624,014' gold and $2,191,370 silver.
Here, then, was an actual reported reduction by the same .firms in consumption of gold and silver between the two yearsof $1,732,769 gold and
$1,204,122 silver. A further examination of the returns shows that the
falling off has not been confined to large manufacturing firms, but has
beeh general, and sufficient to account for the difference between the
consumption shown by the last two inquiries, viz, for the years 1883 and
1885.
The following table exhibits the results of the four inquiries (the first,
in 1879, being necessarily imperfect) made by this Bureau on the subject
ofthe consumption in the United States of gold and silver in the arts:
R E P O R T E D INDUSTRIAL CONSUMPTION O F P R E C I O U S METALS I N T H E U N I T E D
^ STATES F O R T H E YEARS 1880, 1881, 1883, 1885.
'
1880.
1881.
Character of niaterial used.
Gold.
Silver.
. Gold.
Silver.
TJnited Statea coins
.....
$2,408,768
StamoedTJ S.orrefiuervhars . . . . . . ' . . . . . . 5,511,047
Foteign coin
Old jewelry, plate, and other old materials... f 714,378
Native grains, nuggets, &o
Wire or rolled plate
$541,834
2,749,190
173,145
599,524
188,799
8,634,193
3,464,169
10,086,723
3,388,421
Total
$3,315,882
$72,190
6,171,317 . 3,127,432
212.
R E P O R T ON T H E FINANCES.
R E P O R T E D INDUSTRIAL CONSUMPTION O F P R E C I O U S METALS I N T H E U N I T E D
STATES F O R T H E YEARS 1880, 1881, 1883, 1885—Cont'd.
1883.
1885.
Character of material used.
Gold.
United States coins
Stamped TJ. S. or refinery bars
Foreign coin
Old jewelry, plate, and other old materials...
Native grains, nuggets, &c
...J..
Wire or rolledvplate
...
Total
Silver.
Gold.
Silver.
$4,875,587
7,137,661
194,400
876,641
702, 387
672,688
$216,637 $2,827,378
6,234, 034
4,552,172
178, 913
154,273
847,715
221, 951
502,893
71, 557
561,187
339,940
14,459,464
5, 556, 530 11,152,120
The result of the inquiries for the years 1881 and 1885 are practically
the same, whUe that of 1880 is but little less, a smaller number of consumers having reported. In 1883 the ^sum reported was of gold over
. $4,000,0.00 more,' and of silver $2,000,000.
From the results of these inquiries I am led to conclude that the consumption of United States gold coin in the arts does not at present exceed $3,500,000 per annum.
The following table shows the industrial consumption of United States
gold coin in the United States actually reported to the Bureau by persons and firms, and the estimates by the Bureau of consumption of United
States gold coin for the same yearSo
1
CONSUMPTION O F U N I T E D STATES GOLD C O I N I N T H E ARTS.
|
1
Beturns to the Bureau of the Mint for calendar years.
i
1
Year of published estimate.
1
1881
1
1882... '.
1
1883
1
1
1
1884
1885
1886
Eeported consumption of
year previous.
,
$2,408,768
3,315,882
.
4,875,587
:
2,827,378
Comsumpt n
estiraated
by Director
for flscal year,
j
|
1
i
$3,300 000 j
2,700 000,
2,500 000
4,875 000
5,000 000
3,500 000
213
DIRECTOR OF THE MINT.
The foUowing table exhibits the value of the gold and silver in bars
furnished by the Government institutions and by private refineries to
firms engaged in the industrial arts, during the calendar year 1885, so
far as communicated to this Bureau:
VALUATION AND CLASSIFICATION Q F D E P O S I T S F O R GOLD AND S I L V E R BARS,
PREPARED BY THE UNITED STATES MiNTS AND THE ASSAY OFFICE AT N E W
YORK, AND B Y PRIVATK: R E F I N E R I E S , DURING ^ H E CALENDAR YEAR 1885,
(PRESUMABLY F O R USE I N T H E ARTS).
.
GOLD.
Coin.
• Foreign
bullion.
Domestic
bullion.
Old plate,
&c.
XJ. S. Assay Of•
fice at New
York
$65,270 51 $439,932 05 $2,026,426 85 $579, 289 41
U. S. Mint at
Philadelphia. 397,466 10
60,942 66
TJ. S. Mint at
San Francisco
Private refineries
345, 055 00
1,272,606 00 310,695 00
Total . . . . 807,791 61 439,932 05
3,299,032,85 950,927 07
Deposits for
large bars not
for use of manufacturers, redeposited for
small bars for
use by manufacturers.
Total.
$2,363,907 60 $5,474,826 42
458,408 ?6
1, 928, 356 00
2,363,907 60
7, 861,591 18
SILVER.
U. S. Assay Office at New
York .-'
$63, 391 72 $752, 827 02 $3,680,588 00 $184, 015 32
U. S. Mint at
Philadelphia.
27,399 60 14, 621 09
U. S. Mint at
SanFrancisco
569 51
Private refineries
15, 212 00
395,248 00 120,378 00
T o t a l . . . . 78,603 72
752,827 02
,
4,103,225 60 319, 583 92
$4, 680, 822 06
42, 020 69
569 51^
530, 828 00
5,254,240 26
214
REPORT ON T H E FINANCES.
The value and classification of the deposits at the Assay OfQce at New
York during the fiscal year ended June 30, 1886, for bars of gold and
silver, presumably for use in the arts and manufactures, is exhibited in
the following table:
STATEMENT OF GOLD AND S I L V E R BARS ISSUED FROM T H E U N I T E D STATES
ASSAY O F F I C E AT N E W YORK DURING T H E FISCAL YEAR ENDED J U N E
30, 1886, SUPPOSED T O H A V E B E E N U S E D I N T H E A R T S A N D M A N U F A C T URES.
Classification of deposits.
Gold.
TJnited States coin
Foreign coin
Foreign bullion
Plate, e t c . Domestic bullion
^
Large gold bars exchanged for gold coin, and redeposited for
small bars, less the charges and fractions paid in gold coin.
r
Silver.
$103,720
502, 872
747, 034
2, 017, 296
67
05
29
50
$215 78
72,761 31
730,728 34
191,307 40
3, 641, 093 48
1,545, 999 14
4, 916, 922 65
Large gold bars exchanged for coin, and taken by manufacturers
1, 664, 535 02
6, 581,457 67
Total .
4, 636,106 31
The following table exhibits the annual estimated consumption of gold
and silver.in the arts by the principal nations of t h e world. It does
not include any consumption by India or the Eastern countries generally, or by Mexico or South American countries.
* ANNUAL INDUSTRIAL CONSUMPTION OF GOLD AND S I L V E R B Y T H E P R I N CIPAL NATIONS O F T H E W O R L D , FROM LATEST AUTHORITY.
Countries.
IJnited States (Burchard)
England (mean of several authorities)
France (Dumas)
Germany (Soetbeer)
Switzerland (Lardy) t
Austria-Hungary (Nibauer)
Other countries (Soetbeer)
Total
Population.
58,000,000
36,000,000
37,000,000
45,000,000
2,846,000
37,800,000
230, 000,000
446, 646, 000
Gold (fine
ounces).
626,925
546,550
401,875
385,800
321,500
Value.
$13,000,000
11, 500, 000
8, 600, 000
8, 200, 000
6, 600, 000
450,100
9, 500, 000
2,732, 750
57,400, 000
* Consumption as cited by Ottomar Haupt, •'L'HistoireMon6taire de Notre Temps," Paris,
pp. 21,22.
t According to the census of Switzerland of 1870, the annual production of watches in that
country for that year was 1,600,000, representing a total value of 88,000,000 francs. 37,969
persons were reported to be-engaged iri the business of watch-making in the four cantons of
witzerland famous for that mdnstTj.—Larousse Dictionnaire Universel, Vol. 14, p. 1221.
215
DIEECTOR OF T H E MINT.
**ANNUAL INDUSTRIAL CONSUMPTION OF GOLD AND S I L V E R BY I ^ E P R I N C I PAL NATIONS OF THE W^ORLD, FROM LATEST AUTHORTIES—Continued.
Silver (fine
ounces).
Countries.
U n i t e d S t a t e s (Burchard)
'...
E n g l a n d (mean of several authorities)
France (Damas)
G e r m a n y (Soetbeer)
Switzerland (Lardy) t
A u s i r i a - H u n g a r y (Nibauer)
Other countries (Soetbeer)
Total
Coining
value).
($1.2929.)
Pea: capita.
Total value
gold a n d
silver.
Gold.
Silver.
$0 22x%
$6 07
3, 697, 250
$4, 000, 000
$17, 000, 090
2, 604,150
2, 411, 250
2, 636, 300
835, 900
835, 900
3, 697, 250
3, 000, 000
2, 800, 000
3, 000, 000
1, 000, 000
1, 000, 000
4, 000, 000
14, 500, 000
11,400,000
11, 200, OUO
7, 600, 000
1,000,000,
13, 500, 000
16, 718, 000
18,800,000
76,200,000 •
32
08r=^
. 07j%
23T%
06x%
2 31x%
35
02^iT
04i^
oi,v
* Consumption as cited by Ottomar Haupt, "L'Histoire Mon6taire de Notre Temps," Paris,
pp. 21, 22.
t According to the census of Switzerland of 1870, the annual production of watches in that
country for that year was 1,600,000, representing a total value of 88,000,000 francs. 37,969
persons were reported to be engaged in the business of watch-making in the four cantons of
Switzerland famous for that industry.—iarow^se Dictionnaire Universel, Vol. 14, p. 1221.
The following table, converted from one by Dr, Adolph Soetbeer^ embraces the result of his examination into the subject of the consumption
of the precious metals in the arts by the various nations of the world,
presumably for 1880:
CONSUMPTION OF T H E P R E C I O U S METALS I N T H E ARTS B Y T H E VARIOUS
NATIONS O F THE vyoRLD.
GOLD.
Countries.
Gross consumption of
gold.
Ounces.
482,250
643,000
675,150
472, 605
482, 250
93, 235
192, 900
96,450
United States
Great Britain
France
Germany
Switzerland
Austria-Hungary
Italy
Russia
Above countries together
All other civilized coun
tries
Valv£.
Per cent.
$9,969, 000
10
13,292, 000
15
13, 956, 000
20 9, 769, 620
20
9, 969,000
25
1, 927, 340
15
3, 987, 600
25
.1,993,800
20
3,137, 840 64, 864, 960
J.60,750
3, 298, 590 68,187, 960
Total
Deduction
for old
Net consumption of gold.
material
used over.
Ounces.
434, 025 00
546,550 00
540,120 00
378, 084 00
361, 687 50
79, 249 75
144, 675 00
77,160 00
Value.
$8,972,100
11, 298,200
11,165, 280
7, 815, 696
7,470, 750
1, 638, 239
2, 990, 700
1, 595, 040
2, 561, 551 25
52, 952, 005
124, 600 00
2, 658,400
2, 689, 366 25
55, 610,405
* Verwendung des Goldes und Silbers, Jena, 1881.
216
REPORT ON THE FINANCES.
CONSUMPTION OF THE PRECIOUS METALS IN THE ARTS BY THE VARIOUS
NATIONS OF THE WORLD—Continued,
SILVER.
Countries.
United States.
Great B r i t a i n — .>.
France
Germany
Switzerland
Austria-Hungary.'.
Italy
Russia
Gross consumption of
silver.
Value
($1.2929). Per cent.
Ounces.
3, 858,000 $4,987,200
15
2, 893, 500 3, 740,400
20
, 3,215,000 4; 156, 000
25
3, 215, 000 4,156, 000
25
1, 028, 000 1,329,920
25
1, 286, 000 1, 662, 400
20
803, 750 I, 039, 000
25
1,286, 000 1, 662,400
20
Above countries together! 17, 586, 050 22, 738 320
All other civilized countries
•2,202, 680
1,703, 950
Total
Deduction
for old
material Net consumption of silver.
employed.
19, 290, 000 24, 936, 000
Ounces.
3, 279, 300 00
2, 314,800 00
2,411,250 00
2, 411, 250 00
771, 600 00
1, 028, 800 00
610, 850 00
1,028, 800.00
Yalue
($1.2929).
$4, 239,120
2, 992, 320
3,117, 000
3,117, 000
997,440
1, 329, 920
789, 640
1,329,920
13, 856, 650 00
17, 912, 360
1, 286,000 00
i; 662,400
15,142, 650 00
19, 574,760
It will be noted that the above table includes consumption of coin as
well as of new material.
A further consideration of the same subject will be found in my report on the Production of the Precious Metals in the United States for
the calendar year 1885.
M O N E T A R Y S T A T I S T I C S Oif F O R E I G N C O U N T R I E S .
In accordance with section 3564 of the Eevised Statutes of the United
States, which requires the Director of the Mint to estimate annually the
values of the standard coins in circulation in the various countries of
the world, it has been the practice of this Bureau each year since
its organization to solicit, through tlie State Department, at the hands
of representatives of the United States abroad, definite official information in regard to the standards of value and to the coins of countries
to which they are accredited.
*
The Bureau has usually availed itself of this opportunity to seek
additional information from foreign governments in relation to the production, consumption and movement of the precious metals. The information acquired in this way has added very largely to the value and
usefalness of the annual fiscal reports of the Bureau.
In view of the great importance at the present time of accurate and
complete information in regard to the monetary affairs of other countries,
andowith the object of communicating leading facts bearing on one of
the momentous questions of the day, and with the further object of
DIRECTOR OF T H E MINT.
"
217
possessing itself of official data, from which to supply the varied information constantly sought, officially and otherwise, at its hands, I have,
during the present year, extended the scope of its previous inquiries.
The following is a list of interrogatories sent to foreign goveruDients
the past year:
INTERROGATORIES,
1. W h a t is the legal unit of account ?
2. W h a t is the legal standard: Double, Single Gold, or Single Silver ? If double,
at what ratio between the two metals ?
3. W h a t is the weight in grams of each of the gold coins authorized by law to be
coined, and w h a t is the fineness, expressed in thousandths ?
4. Same for silver.
5. Is the Mint open to deposits by individuals of gold and silver for coinage, or of
one metal to the exclusion of the other ?
6. In case of deposits by individuals of gold or silver, what coinage charge, if any,
is imposed on each metal?
7. For w h a t amount are gold coins a legal tender in the payment of debts or government dues ?
•
8. Same for silver.
9. W h a t is the *^tolerance" or ^^ mint remedy" allowed by law in coinage on each
piece, both as to weight and .fineness—that is, w h a t deviation is allowed from the
legal standard?
10. W h a t are the legal provisions as to the recoinage of worn gold and silver coins ?
11. What was the amount of gold coined during the calendar year 1885, by denom. inations and value ?
12. Same for silver.
13. W h a t has been the total coinage of gold from the establishment of the Mint ?
Amount recoined ?
14. What has been the total coinage of fuU legal-tender silver from the establish-,
ment o f t h e Mint? Amount recoined?
15. What has been t h e total coinage of subsidiary or limited-tender silver from the
organization of the Mint ? Amount recoined?
16. W h a t was t h e weight expressed in kilograms, and the value oif the gold produced from t h e mines during t h e calendar year 1885 ?
17. Same for silver.
18. The import and export of gold and silver coin and buUion, separately, during
t h e calendar year 1885 ?
19. Estimated amount of gold coin in the country? W h a t proportion in active
circulation?
20. Same for fuU leg^al-tender silver.
21. Same for limited-tender, silver.
22. Amount ofs, paper currency outstanding December 31, 1885; government and
bank notes separately ?
23. Copy ofthe, coinage laws and regulations of the Mints as to coinage.
The above interrrogatories have met with full and very cordial response. Eeplies, as far as received, will be found in the Appendix to
the present report.
The thanks of the Department are due to numerous diplomatic and
consular representatives of this Government abroad for prompt and apt
efforts to carry out the instructions of the Department of State as suggested by this Bureau.
218
REPORT ON THE FINANCES.
The full replies cover not only technical matters of coinage, such as
the denomination, weight, fineness and tolerance of coins, but also impart definite information in regard to the stock of the precious metals
in the various countries, and as to the annual movement of the same. ^
Omitting all reference to answers of technical questions, I append a
condensed statement of the contents of these papers, in so far as they
relate to the coinage, production, circulation and movement of the precious metals, and to the correlative subject of metallic reserves and the
issue of paper money.
GREAT BRITAIN AND HER COLONIES.
Great Britain and Ireland.—^Mr. Fremantle, Deputy Master of the
Eoyal Mint at London, transmits, through the State Department, a
communication embracing replies to the questions contained in the cir-'
cular prepared at this Bureau :
Items reported.
Gold coinage, calendar year 1885
Silver coinage
Amount.
Equivalent in
United Spates
money.
2, 973,453
720,918
$14,470,309
3,508,347
Total coinage from 1816, gold
Amount recoined from 1842
252, 788, 000
40,163, 000
1,230,192, 802
195,453, 239
Net gold coinage
212, 625,000
1,034,739,563
Silver coinage (subsidiary) from 1816
Eecoinage (estimated)
Net coinage
—
Imports, 1885, gold
;....
Exports, 1885, gold.
Net gain
:
Silver imports
Silver exports
Net loss
Bank notes outstanding
31, 200, 000
7, 000, 000
151, 834,800
34, 065, 500
24,200, 000
117, 769, 300
13,450, 000
11, 500, 000
65,454,425
55, 964,750
1,950, 000
9. 489, 675
9, 300, 000
9, 600, 000
45, 258,'450
46,718,400
300, 000
1,459, 950
40, 234, 034
195, 779, 926
In the Appendix will be found the text of the treasur}^ minutes on
the appointment of a royal commission to inquire into the changes in
recent years in the values of the precious metals.
This action oh the part of the British Government is rendered the
more significant from the fact that Mr. Balfour, one of the leaders of the
English Bi-Metallic League, is chairman«of the commission, and Mr.
Barbour, a well-known bimetallist, another member of it.
Australasia.—Mr. George Anderson, Master of the Branch Mint at
Melbourne, transmits, under date March 15, 1886, a statement prepared
at that mint from returns famished by the governors of the various col-
219
DIRECTOR OF THE MINT.
onies, giving the production of gold and mlver in Australasia from the
earliest records up to-the close of 1884
He also presents, under date August 3O51886, a similar statement for
the calendar year 1885.
The production of gold and silver in Australia and New Zealand during 1885 amounted to—
Production.
Gold
Silver
.
Oances.
1,442,910
810,797
Value.
$29,824,949
1,048,279
• It will be noticed that the production of silver in Australia during
the past year has been very much larger than in any preceding yearo
The total amount of gold and silver produced from, the mines of Austra- lia. and Kew Zealand, "according to this statement, from the earliest
records up to the close ofthe calendar year 1885, has been—
1
1
Production.
Ounces.
79,678,137
.2,475,095
Gold
1 ^Silver
Amount.
=
EG^ual to—
1
$1,546,947,091
3,200,050
1
j
OTHER BRITISH COLONIES.
An abridgement has been made from the pamphlet issued by Mr. F.
O. Adrian of the Colonial Office, on Dhe subject of the currency of the
British Colonies, stating briefly the laws in existence as to legal-tender
money, and the standard and the kind of money, both domestic and
foreign, receivable in payment in such colonies. •
STATES OF THE LATIN UNION.
The text of the agreement continuing the monetary convention concluded at Paris l^ovember 6,1885, between the states of the Latin [Jnion,
has been translated at this Bureau from the official journal of Belgium,.
as well as the law by which Belgium gives its adhesion to the samCo
These will be found in the Appendix. ' .
220
REPORT ON THE FINANCES.
FRANCE.
Items reported.
Francs.
Gold coinage, 1885
1
Gold coinage for the principality of Monaco
Total
•
Silver coinage
Gold coinage of France from 1795 to December 31,1885
Silver coinage same period in five-franc pieces
Subsidiary silver coinage for same period
Production of mines during calendar year 1884, silver.
Imports, gold, 1885
Exports, gold
Imports, silver
,
Exports, silver
,
Bank notes outstanding:
Bank of France, December 31,1885
Metallic Eeserve Bank of France, same date:
Gold
Silver
%
Equivalent in
United States
money.
289,400
633,400
$55,854
122,246
922,800
178,100
243, 513, 849
201, 122, 701
237, 104,770
138, 134, 436
454, 519
1, 669,749, 871
976,697,004
45,755,209
245,412
46,998,172
38, 816,681
45,761,220
26, 659, 946
2, 918, 050, 745
563,183,793
1,157, 415,159
1, 085, 432,782
223,381,125
209,488,526
2, 355, 022
8, 651, 553, 740
5,060, 606, 240
237, 073, 624
* 5, 905
* Kilograms.
Minister McLane, in a telegram dated February 9, 1886, informs the
Secretary of State that in a debate in the Chamber the government of
France was asked to urge the reassembling of the international conference on the subject of the commercial value of silver, and that the
Minister of Foreign Affairs stated that, while the government was not
indisposed to negotiate on the subject, the present time was not favorable for such negotiation, and that thereupon the subject was indefinitely
postponed.
BELGIUM.
The total coinage of Belgium since 1832 has been as follows:
Items reported.
Gold
Silver, five-franc pieces
Eecoinage -. -:
Net coinage
Francs.
,.:
,,
Subsidiary silver
iSTational-bank notes outstanding December 31,1885
Metallic reserve of national banks, same date:
Gold
„
Siiver
Equivalent in
IJnited States
money.
598,642,745
495,678,210
22,000, 000
$115,538, 049
473,678,210
91,419, 894
52,864, 535
367,423, 810
~ 70,912, 795
65, OOP, 000
32,000,000
95, 665, 894
4,246, 000 .
10, 202,855
12, 545, 000
6,176, 000
221
DIRECTOR OF THE MINT.
The translation from the official report of the Belgian mint of the
laws governing the administration of the mint will be found in the Appendix. *
SWITZERLAND.
Items reported.
The total coinage of gold from the organization of the mint
amounted to
Total coinage five-franc pieces, silver
Total coinage subsidiary silver
Imports of gold and silver, 1885
Exports of gold and silver
Circulation of cantonal and private banks, close of 1885
Metallic reserve in the Treasury and in banks authorized to
issue notes, same date:
Gold
Silver, five-franc pieces
Silver, subsidiary
Francs.
Equivalent in
United States
money.
5,000,000
10,478,250
18,000,000
28,776,097
32,122,643
134, 546, 000
$965,000
2, 022, 302
3,474, 000
5, 553, 786
6,199, 670
25, 967, 378
47,819, 555
20, 920, 285
288,000,000
9,229,174
4, 037, 615
55, 584, 000
Hon. John B. Stallo, United States Minister, forwards, under date of
March 9,1886_, from Eome, replies to the questions relating to the coinage, production &C.5 of the kingdom, of Italy, as follows:
Items reported.
Gold coinage, 1885
Silver (subsidiary)
Gold coinage from the establishment of the Kingdom (viz,
.1862) to 1885
Coinage five-franc silver pieces, same period
Subsidiary coinage, silver, same period
Importation gold, 1885
Importation silver
Exportation gold
Exportation silver
Paper currency outstanding December 31,1885:
Govemment notes
Banknotes
-'
Liras.
Equivalent in
United States
money.
3,294,680
1,196,016
$635,873
230, 831
418,324,300
80, 736,589
70, 374, 945
32, 810, 000
1,520,248
20,402,827
19, 923, 514
15, 841, 392
364,637,025
170, 000,000
7, 876, 934
105, 714,133
103,230,646
82, 079,751
493,231,991
948,451,677
95,193, 774
183, 051,173
In the Appendix will be found a decree taken from the official journal
of Italy, under date of April 16,1886, institutmg a permanent commission on the state of the monetary question.
222
REPORT ON THE FINANCES.
SPAIN.
Edward H. Strobel, secretary of legation at Madrid, forwards, under date of August 20, 1886, the response of the Spanish Minister of
State to the interrogatories suggested by the Bureau of the Mint.
Also a copy of the decree of October 7, 1868, reforming the monetary
system of Spain. Also a translation of the instructions of December
16, 1858, prescribing new regulations in the mint.
Items reported.
Coinage 1885 :
Gold . .
Silver
-
'
Pesetas.
.
.
......
. . .
Total
Equivalent in
United States
inoney.
12,565,325
19,060,622
$2,425,107
3,678, 700
31, 625, 947
6,103, 807
The bank notes of the Bank of Spain outstanding August 13, 1886,
amounted to 483,028,675 pesetas, equal to $93,224,534.
AUSTRIA-HUNGARY.
°
The official reply to the interrogatories of this Bureau has not been
received from A ustria-Hungary at the date of this report.
In the Appendix will be found a communication, however, from Mr.
James Fenner Lee, secretary of legation at Yienna, inclosing a statement
showing the production of the precious metals in the kingdom of Hungary in 1884.
223
DIRECTOR OF THE MINT.
GERMANY.
Two communications have been received from the German Empire
through the Hon. George H. Pendleton, United States Minister to Germany, one under date of 21st January, and the other under date of May
20,1886, containing answers to the interrogatories drawn up by this
Bureau.
J.
Marks.
Items reported.
Gold coinaere 1885
Silver coinage 1885
.
.
8,148,920
2,428,879 |
..•«.(>o..(>.«.......
Total Imperial coinage to the end of 1885:
GoldRecoinage
...»
Net coinage
The estimated old thaler pieces in circulation (full legal
tender—
Erom
. . .o
To
=
oo. =
Imperial coinage to the end of 1885:
Subsidiary silver
..,^m«......
Ilecoinao"e
. .„.
......o...
Net coinage
o
Equivalent in
i United States
money.
$1, 939, 442
578,073 1
1, 930,165, 525
1,129,135
459, 379, 894
268,734
1, 929, 036, 390
459,110. 660 1
400, 000, 000
500,000, 000
95, 200, 000
119, 000, 000
452,509,355
8,013,585
107,697,226
1,907,233
444,495,770
105,789,993 |
137,527,795
1,061,623,000
32,'731,615
252, 666, 274
= ..
1,199,150,795
285, 397, 889
The production of gold and silver in Gennany during the
year 1885, amounted to—*
Gold...
.=.. = .
Silver
o
1,706, 000
32,964,000
406, 028
7,845,432
Paper circulation Govemment notes (December 31,1885)....
Banks notes
Total
Items reported.
Gold imports, 1885
Gold exports
Kilograms.
o
Net gain
16.664
9,374
.•
Imports silver
Exports silver
i
Net gain
Equivalent in
United States
money.
$11, 074, 894
6, 229, 960
7, 290
4, 844, 934
21, 947, 00
144,913
912,117, 320
6, 022, 584
21, 802, 087
906, 094, 736
* A portion of this was obtained from f areign ores.
A
224
REPORT ON THE FINANCES.
NETHERLANDS.
Hon. Isaac Bell, jr.. Minister Eesident, furnishes, under date of February 23,1886, the information called for bythe circular of this Departmento
Items reported.
Florins.
Gold coinage 1885
Silver coinage (subsidiary)
Gold coinage since 1875
Full legal-tender silver coinage since 1847
Limited-tender silver coinage since 1847
Recoinage
'....
670,950
200,000
74,974,860
461,233,433
8,846,147
68,840
Net coinage
Paper circulation at the close of 1885:
Government issue
:
National-bank notes
Total
;
Gold circulation (estimated)
Full legal-tender silver circulation (estimated)
Subsidiary silver circulation (estimated)
Equivalent in
United States
money.
$269,721
80,400
30,139,893
185,415,840
3,556,151
27,673
8, 777, 307
3, 528,478
9,796, 920
192,434, 065
77, 358,494
202, 230,985
81, 296, 855
3, 938, 361
27,114,010
. 50, 000,000
7, 549, 334
The principal of the national bonded debt of the Netherlands on 1st
January, 1886, amounted to 962,771,150 florins, over 630,000,000 florins
of which was funded at 2J per cent, interest.
There is said to be a movement in progress on the part of the government looking to the consolidation of all outstanding bonds at 3J per
cent, interest, which is about the rate which the government securities
at present pay investors on the basis of the market quotations at the
Amsterdam Bourse.
~
DENMARK.
Hon. Rasmus B. Anderson, Minister Eesident and Consul-General at
Copenhagen, under date of March 6, 1886, reports as follows:
Items reported.
Crowns. •
Total gold coinage since May 23,1873
-
Subsidiary silver coinage since May 23,1873..
Recoinage
,
Net subsidiary coinage
Imports gold 1885
Exports gold 1885
Net loss
Stock ot gold (estimated)
<
,
Stock-of limited-tender silver.(estimated)
Government notes Outstanding December 31,1885
Equivalent in
IJnited States
money.
34,754,640
$9,314, 243
18, 355, 787
4, 919,350
203, 550
54, 552
18,152, 237
4,864,798
5,000, 000
1,34t), 000
6, 250,000
1, 675,000
1,250, 000
335, 000
3C, 000, 000
18,000, 000
73, 500, 000
8, 04C, 000
4.824,000
19,698,000
The coinage laws of Denmark, forwarded by Mr. Anderson, have been
translated and will be found in^ the Appendix.
225
DIRECTOR OF THE MINT.
RUSSIA.
A very valuable paper has been received from the Eussian government showing in parallel columns the Eussian coin system ih existence
up to the beginning of 1886 and the new law of 1886.
Items reported.
Roubles.
Coinage in 1885:
Gold
Silver
Total coinage since the year 1800 to January 1,1886, gold . . .
Full legal-tender silver, same J)eriod
Limited-tender silver
'...-....
Production of the mines during the year 1885:
Gold
Silver
Imports gold and silver, 1885
Exports gold and silver
..„.....>.
Net loss
Stock of coin in the Imperial Bank and iu the St. Petersburg mint on January 1,1886:
Gold
Silver
'
Subsidiary silver in circulation
' Imperial Bank notes outstanding January 1, 1886
Equivalent in
United States
money.
26,802,088
1,250,024
1,088,315,386
231,999,244
141,746,297
$21,361,264
751,264
867,387,362
139,431,545
85,189,524
KUograms.
38,125.517
15,554.111
25,338,218
646,429
Eoubles.
6,795,163
8,226,440
6,415,744
6,556,472
1,431,277
1,140,728
219,850,770
4,320,028
77,000,000
1,046,433, 349
175,221,063
2,596,336
46,277,000
834,007,379
A translation of the Eussian mint regulations has been made at the
instance of this Bureau by Mr. Jeremiah Curtin, formerly secretary of
the legation of the United States at St. Petersburg, and will be found
in the Appendix.
FINLAND.
Mr. E. H. Furnhjelm, of the Mint at Helsingfors, in Fihland, reports,
under date of December 14,1885, that there was no coinage during that
year at that mint.
Production of the precious metals from 1870 to 1884 was only 307
kilograms in gold.
About 400 kilograms of silver is annually extracted from copper ores.
H.Bx. 2 — 1 5
226
REPORT ON THE FINANCES.
NORWAY AND SWEDEN.
The replies of the Eoyal ISTorwegian Government, under date of April
24,1886, to the interrogatories of the Bureau, are tabulated as follows t
NORWAY.
Amount.
Items reported.
Silver coinage, 1885
Coinage since 1875:
Gold . . . .
Silver
Recoined
Equivalent in
United States
money.
crowns..
200, 000
$53, 600
do-...
do....
13, 846, 670
5,440, 000
100, 000
3,710, 907
1, 457, 920
26, 800
do .Net silyer
,
19,186, 670
........do....
Production, 1885:
Gold
Insignificant.
Silver
..kilograms.
7,200
Imports, gold and silver
1,011,100
crowns..
Exports, goldandsilver
396, 000
do.-..
Metallic reserve, Bank of Norway, December 31, 1885:
Gold
.^
19,119,000
do
Silver....
289, 000
do.-..
In treasury, silver
618, 000
do....
Silver circulation
4,420,000
do....
Paper issue. Bank of Norway
37,147,500
do...
5,142, 027
299, 232
270, 974
106,128
5,123, 892
77,452
165,624
1,184, 560
9, 955, 530
SWEDEN.
Coinage, 1885:
Gold
Silver
^
Total coinage since 1873:
Gold
Recoinage
Net coinage
Total coinage from 1830 to 1873:
Silver
Recoinage
Subsidiary coinage, 1873-1885
Production of mines:
^
Gold
Silver
Imports gold:
Coin
Bars
Exports gold
Imports silver:
Coin
—^.
Bars
Export silver coin
Gold in country December 31, 1885
Silver in circulation
Subsidiary silver'in circulation
Subsidiary silver in country
Paper money of Bank of Sweden
Total paper money
crowns.
do...
:
125, 000
292, 095. 75
$33,300
78,281
do...
do...
*46, 446, 255
65, 880
12,447,, 506
17, 655
do...
46,380,375
12, 429, 941
do...
do...
....do...
49,684,344
7, 264, 900
15, 642, 786
13, 315, 404
1,946,993
4,192, 266
kilograms.
do...
47
2,326
31, 236
96, 668
crowns.
kilograms.
1, 604,137
476
429, 908
316,349
crowns.
kilogram s.
crowns.
do...
do...
do...
do...
.'.... .'do...
do...
427, 780
183
119,500
27, 500, 000
5,500,000
15,000,000
17,000, 000
39,340,976
88, 880, 259
114, 645
7,605
32, 026
7, 370, 000
1,474,000
4,020,000
4,556,000
10,543,381
23,819,909
'' Does not include ducats.
227
DIRECTOR OF T H E MINT.
TJnder date of October .4,1886, Mr. Edgar Vincent, financial counselor of the Egyptian government, transmits from Cairo a report made
to the Khedive on the monetary affairs of Egypt, and also a copy of a
decree reforming the coinage system of Egypt.
An effort is being made on the part of the government to withdraw
all the foreign silver coins in circulation in Egypt and to have them recoined into Egyptian silver coins. A statement is presented in the
Appendix showing the result of the melting of the old Egyptian coins
sent to the mint at Berlin.
.
It seems that Egypt has been a large purchaser of silver in Europe
for this coinage, having purchased from December, 1885, to May, 1886,
50,000 kilos of fine silver.
i
The silver coinage executed from the recoinage and from the additional silver purchased amounted to 313,800 Egyptian pounds,
($1,551,113), most of which has been put in circulation.
Tables have been extracted from the report ofthe commission on the
monetary reform in Egypt, showing the coinage of Egyptian money at
Paris and Brussels since 1864, and also the total coinage of Egyi)tian
moneys.by pieces, and the amount at present in circulation.
JAPAN.
Hon. Eichard B. Hubbard, Minister to Japan, reports, under date
May 5, 1886f the answers furnished' by His Majesty's Finance Department to the several interrogatories of this Bureau:
Tens.
1,004,005
4,297, 479
2,023,448
Gold coinage, 1885
Full legal-tender »ilver.Subsidiary sUver
Total coinage from establishment of Mint to close of 1885:
Gold . . : . .
Recoinage
,.--.
Net gold coinage
Silver*'—full legal tender'
Subsidiary silver coinage'
Recoinage
---
Nbt c o i n a g e . .
-.
o...
1
.....:
,
-
Production of mines during t h e fiscal year 1885:
Gold
i,.
^
Silver —
56,607,748
' 2,842 ^
1...
-
56,604;9d6'
35,576,105
21,175,185'
4,683
21,170,502
ounces..
ounces..
8,531
742,177
* 32,578,853 (including 6,990 recoined) were in one-;yeii]pieiBes,c'and 3,057,252 (includ
ing 643 yens recoined) were in silver trade coins weighing 420 grains. \
228
R E P O R T ON T H E FINANCES.
Imports of gold, 1885 i Coin
Bullion
„
Exports of gold:
Coin
o
Bullion..
Imports of silver :
Coin
Bullion
Exports of silver.:
Coin
Bullion
Yens.
o
-.-..
464
35,052
.00
ojens..
..00ounces..
470,493
1,352
....
yens..
0 0 . . . -ounces..
1,279,314
4,977,400
yens..
ounces..
3,548,068
199,560
,
»..>.
Estimated stock of gold coin in tbe country
Estimated amount of full legal tender silver
Estimated amount of subsidiary silver
Paper circulation December 31, 1885 :
Governinent issue
Nation al-bank notes
Total
o,.yens..
..ounces..
o
„
:...
88,345,096
'30,093,208
o...
0....0...000...
88,791,983
22,902,151
33,728,658
............
118,438,304
CHINA.
Two communications have been received from Peking, one under date
of March' 16,1886, from Mr. W. W. Eockhill, secretary of legation, and
the other from Mr. Charles Denby, United States Minister to China, answering as nearly as possible the communications relating to that gov©rnment. Mr. EockhilFs communication is accompanied by a memorandum tracing the interesting history of the coinage of China.
MEXICO.
Gold coinage,1885
$423,250
Silver coinage, 1885
»
00...........
25,840,727
Coinage since establisliment of Mint (1537) %
Gold
121,587,181
Silver
3,113,516,324
Production of mines 1885 (estimated) s
Gold
....^.....................
866,671
Silver
32,111,778
Exports, gold, 1885
896,483
Exports, silver, 1885 . . „ .
, 32,877,567
Bank notes in circulation, end of Deoember, 1885..
7,800,959
DIRECTOR
pF
THE
229
MINT.
PERU.
Items reported.
Silver coinage, 1885
Exports:
Goldcoin, 1885
Gold bars
Gold wares
Soles.
=
=o.a. = ..,=
=.
Total
Silver coin..
Silverbars
Silverwares
1,766,000
$1,326,266
20,705
73,677
3,556
19,980
71,098
3,431
o.o-o...
97,938
94,509
.o. = .....—
....ao..
776,436
2,131
1.340
583,103
1, 600
1,006
779,907
585,709
Incas.
83,526,708
Sols.
58,051,062
150,000
2,500,000
144,750
1,877,500
2p0„000
2,000,000
193,000
1,502,000
Total
Paper circulation
Equivalent in
United States
money.
=
Production of the inines (estimated):
Gold...,
Silver
Stock of coin in the country (estimated)
Gold
Silver
,
VENEZUELA.
The production of gold in 1885 is estimated to have been 7,033 kilograms, equal to $467,413.
URUGUAY.
Stock of gold coin (estimated)
s t o c k of silver coin (estimated)
P a p e r currency:
Government notes
Banknotes
oo
Metalhc reserve of banks.-o
416,000,000
1,000,000
o
„
=-oo
i.......
...„.-o-o..-000.0- = - . . . .
964,450
5,759,590
9,317,930
230
REPORT ON T H E FINANCES.
CHILI.
The Secretary of State transmits a report by the Chilian ministry of
the Treasury to the Minister of Foreign Eolations, bearing date " Santiago, July 29,1886,'^ in answer to the questions contained in the circular
of this Bureau:
Gold coinage, 1885
Silvercoinage (full legal tender)
Limited tender . - .
-..
Total
o
Total coinage from 1872 to 1885:
Gold
oo.
Silver
:
....Limited tender silver estimated to be in circulation a t t h e close of
t h e calendar year 1885
oPaper money outstanding same date s
Government currency
o . . - - - - o - - . c - o o - o . . . = oo
Banknotes
Production of mines, 1884 : ,
Gold
..0 0-000-.
kilograms..
Silver
o..-do....
Gold export, 1884
Silver coin
$77,580
528,043
36,037
641,660
65,822,668
36,855,320
4,181,679
16,000,000
13,512,835
500
160,000
$52,470
2,450,303
ECUADOR.
In the Appendix will be found a paper containing the text of a decree of the republic of Ecuador, changing the monetary system and
establishing the ^' sucre," a silver coin of the weight of 25 grams and
the fineness of .900, as the standard of value of that republic, in the place
ofthe ^^peso," which has been the standard of value heretofore.
SANDWICH ISLANDS.
']
Hon. George W. Merrill, Minister Eesident at Honolulu, furnishes^
under date of March 2,1886, answers upon the part of the Hawaiian
government to the interrogatories contained in the circular of this
Bureau.
1^0 mint has ever been established in the Hawaiian kingdom, and no
gold coinage has ever been executed for that government.
A silver coinage in 1883 was executed at the United States mint at
San Francisco, $1,000,000, of which $500,000 was in one^dollar pieces,
and the remainder in fractional silver pieces.
There are no gold or silver mines in the Hawaiian kingdom.
DIRECTOR OF THE MINT.
231
Gold imports, 1885
$720,388
Gold exports, 1885....^
-
56,414
Netgain,1885
Silver coin imported
Silver coin exported . . .
Net loss
663,974
'
:
$217
7,532
7,315
The stock of gold coin is estimated at $1,000,000 and silver coin the
same.
Government certificates outstanding December 31, 1885, $377,500.
V^ORK OF THE BUREAU.
In closing the fourteenth annual report of the Bureau ofthe Mint, I
beg to recur to the expediency referred to in my last annual report,
namely, of composing and maintaining the official and clerical staff of
the Bureau with special reference to its peculiar requirements, and particularly that promotions be available in the Bureau itself rather than
sought outside of it.
During the last year the Bureau has been more than once embarrassed by the transfer and promotion of clerks trained to the technical work of its own counting-rooms, on account of the limitations of
its specific appropriations. In the expert character of the work required
at the hands of the essential part of the clerical force, this Bureau is
probably unlike any other bureau or division ofthe Treasury Department.
It would not, indeed, be impossible for such conditions to arise as
would lead to great difficulty in the performance of the work of the
Bureau through the loss of experience personal to a number of those
now upon its roll, under the circumstance that no regular coursQ can be
followed for the advancement and retention of meritorious clerks.
I take pleasure in acknowledging the zeal and fidelity with which
the work of this Bureau has been executed by its clerical staff during
the past year, especially in the laborious preparation of its two annual
reports, namely, the one here submitted, and the Eeport on the Production of the Precious Metals for the calendar year 1885.
In this, as in the latter report, the editorial and statistical labors have
been shared with the Computer of Bullion, Mro E. O. Leech.
I am, very respectfully, yours,
JAMES Po KIMBALL,
Birector of the Mint
232
REPORT ON THE FINANCES.
APPEI^DIX.
I . — D E P O S I T S AND PURCHASES O F GOLD AND S I L V E R ,
COINAGE MINTS.
Description.
Philadelphia. San Francisco.
United States bullion (domestic production)
Standard
ounces.
6,387.866
Standard
ounces.
* Carson.
New Orleans.
Standard
ounces.
Standard
ounces.
1,145, 662. 772
United States coin
8,48.5.981
118.196
639.333
Foreign bullion
3, 286. 301
115,951.415
873.032
Foreign coin
Jewelers' bars, old plate, &c.
Total
8.843
205, 012. 903
3, 288.126
35.110. 032
1, 695. 967
2, 312.057
53, 279.023
1, 468,441. 253
695.409
7,112.548
695.409
7,112. 548
Redeposits:
10, 437. 736
Fine bars
101,375.230
Unparted bars .
Total gold received and operated
upon
United States bullion (domestic production)
United States coin
Foreign bullion
15. 989
165, 091. 989 1, 468,457. 242
941, 292.13
236, 702. 23
1, 995. 75
1.068.48
4, 387. 00
509,165. 67
14,943.55
Foreign coin
109,034.36
106. 21
Jewelers' bars, old plate, &c.
157, 072.25
1,042.63
15, 809, 885. 99
Total
852. 99
15, 302, 690.15
1, 4.53, 602. 39
7, 790, 577.49
,
68,251.29
19, 650. 28
852. 99
7, 894, 491. 09
Redeposits:
656, 753. 09
Fine bars
1, 347, 518. 06
Unparted bars .
Total sil verreceived and operated
upon
G-old and silver deposits and purchases
17, 814,157.14
78.26
1,453, 680. 65
7, 894, 491. 09
15, 863,165. 013 2, 922, 043. 643
7,901, 603.638
Redeposits:
G-old
.-
Silver
Total gold and silver received and
operated upon
111,812.966
2,004,27L15
17, 979,249.129
15. 989
78.26
2,922,137.892
1,548.399
7,901
* For the first four
233
DIRECTOR O F T H E MINTo
APPEE'DIX.
BY W E I G H T , DURING T H E FISCAL YEAR E N D E D J U N E 30, 1886.
ASSAY OFFICES.
Total.
New York.
Denver.
Bois6.
Helena.
Charlotte.
Saint Louis.
Standard
ounces.
Standard
ounces,
Standard
ounces.
Standard
ounces.
Standard
ounces.
Standard
ounces.
451,817.706
61,28L 669
6,493.676
57, 570.127
10,995.581
31.447
11 79ft 191
111, 593. 060
96,633.141
69,536.208
210.525
741,300.236
61,523.641
6,493.676
57, 570.127
3, 631.707
1,744,536.513
157. 981
21,153.059
338.612
232,042.420
4.390
6.718
304,954.121
74.293
2,273.807
111, 212.889
11,074.264
6,408.825
2,413,899.002
15L 511
158, 953.051
2, 666,351. 219
93,499.166
83,061.430
174.038
56, 694.679
541.604
881,056.345
62,065.245
6,493.676
57,744.165
11,074.264
6,560.336
14,499.87
1,417.16
97,253.21
1,015.77
1,884.08
3,739,227.37
Standard
ounces.
240, 016. 90
282.59
1, 272, 240. 61
2L44
4,589.13
401 462.49
1,037.73
6,785.68
30,502,813.78.
36.84
1, 399, 275. 69
•
74^, 461.80
.52
520, 991.18
219, 021.66
65.10
5,222, 922. 57
14,564.97
1,417.16
97,253.21
27, 890,710
29.88
220. 56
698, 383. 56
682, 855.14
26,102. 05
52.16
51, 373. 66
216.71
5,300,398.28
14,781.68
1,417.16
97,305.37
1,037.73
6,822.52
32,584,944.61
5,964,222.806
76,088.611
7,910.836
154,823.337
12, m . 994
13,194.505
32,916,712.782
139,756.109
541.604
174.038
151.511
77 475 71
216.71
52.16
36.84
6,181,454.625
76,846.925
months fiscal year.
7,910.836
155,049.535
12, i n . 994
252,452.217
2,082,130.83
13,S82.856 j 35,251,295.829
234
REPORT ON THE FINANCES.
II.—DEPOSITS AND PURCHASES OF GOLD AND SILVBB
COINAGB MINTS.
Description.
Philadelphia.
IJnited States bullion (domestic production)
United States coin
Foreign bullion
Foreign coin
Jewelers' bars, old plate, & c .
Total....
Sau-Francisco.
$118,844 02 $21,314,656 22
Carson.
NewOrleans.
$12,938 21
157,878 72
2,198 99
61,140 48
2,157,235 62
164 52
3,814,193 55
61,174 43
653,209 90
31,552 87
43,015 01
991,237 64
27,319,837 25
$11,894 57 '
16,242 46
12,938 21
132,326 47
Eedepositis:
Finebars
Unparted b a r s .
194,190 43
1,886,050 79
297 47
Total gold received and operated upon
3,071,478 86
27,320,134 72
12,938 21
132,326 47
United States bullion (domestic production)
17,806,766,70
1,095,321 74
992 57
9,065,399 26
275,435 32
2,322 33
1,243 32
IJnited States coin
Foreign bullion
5,104 87
592,483 69
17,388 86
Foreign coin
126,876 34
123 59
79,419 68
Jewelers' bars, old plate, &c.
182,774 98
1,213 25
22,865 78
18,396,958 21
1,691,464 60
Total
992 57
9,186,316 90
992 57
9,186,316 90
13,930 78
9,318,643 37
13,930 78
9,318,643 37
Redeposits:
Fine bars
Unparted bars .
764,221 77
1,568,021 01
91 06
Total silver received and operated upon
20,729,200 99
1,691,555 66
Gold and silver deposits and purchases
19,388,195 85
29, Oil, 301 85
Gold . . . .
2.080.241 22
297 47
Silver...
2.332.242 78
91 06
Redeposits:
Total gold and silver received
and operated upon
23,800,679 85
29, Oil, 690 38
235
DIEECTOR OF THE MINT.
BY V A L U E , DURING T H E F I S C A L YEAR E N D E D J U N E 30,
1886.
ASSAY OFFICES.
Total.
N e w York.
Denver.
$8,405, 910 81 $1,140,124 08
218, 048 76
Bois6.
Helena.
Charlotte.
,$120, 812 58 $1, 071, 072 13 $204, 568 95
$67, 566 64 $32,456,493 64
2, 939 18
585 06
6, 299 76
2,076,149 95
81 67
1, 797, 825 88
1, 293, 69G 89
Saint Louis.
1,382 20
3, Q16 74
13, 791, 632 29 1,144, 625 88
120,812 58
1, 071, 072 13
206, 032 82
124 99
• 42, 303 39
119,233 96
3, 237 92
10, 076 35
16, 391, 745 95 1,154, 702 23
120,812 58
16,872 57
1,649 05
4,351,100 94
5, 673, 565 04
2, 069, 077 00
44, 909,749 23
1, 739, 519 36
1, 545, 328 93
1, 054, 784 73
393, 545 28
4, 317, 068 27
2, 818 80
2, 957, 266 06
49, 606, 534 65
1, 074, 310 05
206, 032 82
122, 052 76
113,167 37
1,181 I
2,192 38
256 65
865,119 18.
32,454,644 56
34 77
279,292 39
328 83
1,480,425 43
606, 244 28
61
254, 861 57
24 95
5,340 08
467,156 36
1, 207 54
7,896 06
35,494,183 24
42 87
1,628,248 06
6, 077, 582 62
75 75
1,649 05
16,948 32
113,1^67 37
812, 664 50
794, 595 06
30, 373 29
59, 780 25
60 70
252 17
17,200 49
1,649 05
113,228 07
1,207 54
19, 869, 214 91 1,161,574 20
122,461 63
1,184,239 50
207,240 36
6,167,736 16
2,600,113 66
10,076 35
90,153 54
252 17
22, 559,482 11 1,171,902 72
3, 237 92
60 70
122,461 63
1,187,538 12|l
207,240 36
7,938 93 I 37,917,026 36
127,130 02
80,403,932 47
2,818 80
4,696,785 42
. 42 87
2,422,843 12
129,991 69
87,523,561 01
236
REPORT ON T H E FINANCES.
I l i a — D E P O S I T S O F U N R E F I N E D GOLD O P DOMESTIC PRODUCTION, W I T H T H E STATES
DISTRIBUTED, DURING T H E F I S C A L
COINAGE MINTS.
Locality.
Philadelphia,
SanFrancisco.'
$110 46
Alabama
$102,432 30
Alaska—.
595 22
215,417 15
California
3,600 11
4,222,175 09
Colorado
42,709 36
3,172 50
Arizona
Dakota
1,047 89
Georgia
9, 575 59
Idaho
516 76
Maryland
1,222 73
Michigan
17,284 69
Montana
214 98
;N"ebraska
494 66
Nevada
14,881 77
North Carolina.
11,426 51
Oregon
1,010 14
South Carolina .
871 18
Tennessee
256 55
74,876 26
5,521 91
72,508 93
418, 307 97
Texas
2,049 54
Utah
51,921 51
Virginia
$7,416 !
320,065 56
716,990 92
New Mexico —
Washington
Carson.
1,975 01
—
41, 628 07
Wyoming
1, 941 45
Other sources ...
5, 725 37
Total Unrefined.
Refined
Grand total.,
115, 460 43
6, 523, 814 58
3, 383 59
14, 790, 841 64
118,844 02
£2S!S^£}^^S3l
282, 268 78
21,314,656 22
12,938 21
12,938 21
NewOrleans.
287
DIRECTOE OF T H E MINT.
AND T E R R I T O R I E S PRODUCING T H E SAME, AND O P R E F I N E D DOMESTIC BULLION NOT
YEAR ENDED J U N E 30, 1886.
ASSAY OFFICES.
Total.
NewYork.
Bois6.
Denver.
Helena.
Charlotte.
Saint Louis.
$1,144 30
$240 58
$1,495 34
102,432 30
, 24, 581 26
$2,007 16
3,836 45
246 437 24
312,487 48
2,340 26
25 67
4,548,044 91
1,294,382 31
1,032,903 98
14,407 87
2, 387, 576 02
2,819,618 44
2,818,570 55
3, 937 71
96 86
65,887 83
4,333 45
$123,420 71
$99,835 69
137,030 87
17,249 64
$263,309 45
771 198 38
1, 222 73
17, 296 22
11 53
1, 078,434 72
26 44
806,918 49
1,999 35
1,962,470 24
494 66
723, 608 74
1, 095 91
17.703 26
30,330 33
88,790 ^18
44,17174
5,598 29
20,866 41
872 80
924. 920 47
1
61.196 54
220 43
440,404 95
36,756 07
38, 500 05
256 55
2,049 54
54,126 88
2,205 37
2,488 68
513 67
110 48
1,642 01
42,582 74
844 19
11,236 30
7,652 84
539 94
3,691 85
5,631,857 13
1,140,124 08
120,812 58
1,071,072 13
204,568 95
67,566 64
14, 888, 214 7S
17,568,278 91
2,774,053 68
8,405,910 81
992. 225 94
1,140,124 08
120,812 58
1,071,072 13
204,568 95
67,566 64
-32,456,493 6^
238
REPORT ON THE FINANCES.
I T . — D E P O S I T S O P U N R E F I N E D SLLVER O P DOMESTIC PRODUCTION, W I T H T H E STATES
DISTRIBUTED, DURING T H E ' F I S -
COINAGE MINTS.
Locality.
Philadelphia.
Alabama
$0 10
Alaska
Carson.
New Orleans.
,
$925 00
Aiizona
California
Colorado
o-.
Dakota
.'
Georgia
.o„o
Idaho ....-
2 94
19,412 00
79 36
79,927 01
1.045 50
28 77
$458 08
7 13
69 89
=
7 15
21,229 28
30
Maryland
11,023 13
Michigan
Montana
San Francisco.
,,,.,„,.,..„
,,-r,,^
1 35
627 35
3 76
Nebraska
Nevada
746,883 26
New Mf^xico -.-i,„ . „ . , , , . . » , , , , .
10,804 98
53i49
2,034 39
74 62
North Carolina
Oregon
7 05
South Carolina
5 95
Tennessee
1 70
Texas
.
4,249 46
75 32
Utah
$160 86
15, 001 75
29 00
Virginia
385 75
Washington
Wyoming
10 53
Other sources
68 39
204, 542 40
23,242 83
1,095,32174
Total Unrefined
Refined
G-rand total
992 57
17,783,523 87
'.
17,806,766 70
160 86
9,065,238 40
1,095,82174
99257
9,065,399 26
r
239
DIRECTOR OF THE MINT •
AND T E R R I T O R I E S P R O D U C I N G T H E S A M E , A N D O P R E P I N E D D O M E S T I C B U L L I O N , N O T
CAL Y E A R E N D E D J U N E 30, 1886.
\
ASSAY OFFICES.
Total.
New York.
Denver.
_Bois6.
Helena.
Charlotte. Saint Louis.
$2 02
$17 27
$19 39
780 43
117,194 52
925 00
96, 978 65
$20 50
4,087 03
55 83
22
84,607 53
691, 540 95
15,713 48
454 36
708,783 06
260,050 49
260, 043 36
21 24
27
30,169 89
19 08
$509 15
$1,336 84
600 55
671 57
$2,757 06
56,190 87
30
33,323 56
22, 300 43
1,664,179 52
56
110,399 97
78 65
1,775,287 40
3 76
30, 205 59
281,851 24
777,623 34
257 04
803 56
102 79
310 72
295,751 21
437 98
615 39
178
4,569 01
233 07
239 02
1 70
236 18
23,773 50
38, 775 25
6 62
35 62 '
149
8 02
10 34
397 58
181 20
199 75
10 93
6,304 82
3,111,575 67
\'
16.872 57
1,649 05
113,167 37
1,18198
2,192 88
1,239,525 27
4,851,100 94
210,926 54
4,366,357 02
28,088,287 54
16,872 57
1,649 05
113,167 87
1,18198
2,192 38
32,454,644 56
240
R E P O R T ON T H E FINANCES.
¥ o — C O I N A G E E X E C U T E D DURING THE
PHILADELPHL&..
Denomination.
'
'
j
Value.
Pieces.
$1, 680 00
84
348, 847 . 3,488, 470 00
697, 629
3,488,145 00
101
303 00.
4,086
10, 215 00
8,567
. 8, 567 00
..
--
..
». • . . . . . . ; . • • . . • . . .
Total srold
Pieces.
Value.
0
GOLD.
Double eagles
Eagles
Halfeagles
Three dollars
Ouarter ea^lBS
Dollars
SAN FRANCISCO.
.
243, 500
694, 000
3,054,000
$4, 870, 000 00
6, 940, 000 00
15, 270, 000 00
27, 080, 000 00 1
1,059, 314
6, 997, 380 00
3,991,500
20,463, 905
6,105
14, 505
1, 746, 980
20,463, 905 00
3, 052 50
3, 626 25
174, 698 00
47, 000
20,662
2, 066 20
^ 2 , 231, 495
20, 645, 281 75
67, 662
49, 066 20
5, 519
4,519
1, 696, 613
275 95
135 57
16, 996 13
1,706, 651
17, 377 65
24, 997,460
27, 660, 039 40
4, 059,162
27,129, 066 20
SILVEB.
Dollars
Half dollars
Quarter dollars
Dimes
..--.
Total silver
47, 000 00
MINOR.
Five cents
Three cents
One cent . . :
Total minor
Total coinage
^^lo—COINAGE E X E C U T E D AT THE MINTS OF THE U N I T E D
PHILADELPHIA.
SAN FKANCISCO.
Denomination.
Pieces.
Double eagles ..
Eagles
Halfeagles
Three dollars...
Quarter eagles .
Dollars
Value.
$16,560 00
2, 535, 270 00
3,007,530 00
2, 730 00
• 2, 217 50
12, 205 00
Totalgold
Pieces.
Value.
683,500 $13,670,000 00
2, 280, 000 00
228, 000
6,057, 500 00
1,211,500
5, 576, 512 50 I 2,123, 000
22, 007, 500 00
..-.^117, 787, 767 117,787,767 00
1, 497, 000
6,130
3, 065 00 \
14, 530
3, 632 50 I
253, 342 70
.1 2, 533, 427
1,497, 000 00
18, 047, 807 20 | 1, 540 690
1, 501, 369 00
SILVEB.
Dollars
Half dollars
dollars
guarter
imes
Total silver.
4,369 00
MINOB.
Five cents
Three cents
One cent
l . . . | 1,
I 11,
Total minor
Total coinage
73, 824 50
1 ^ 70
117,653 84
0 13,
.=
j 34,458,381
23,815,941 74
* Coinage suspended March 8, 1885.
23,508,869 00-
r
DIRECTOR
F I S C A L YEAR ENDED J U N E
241
MINT.
30,
NEW OELEANS.
CARSON.
Value.
Pieces.
OF T H E
Pieces.
TOTAL.
Pieces.
Value.
Value.
243, 584
1, 042, 847
3,751, 629
101
4,086
8,567
$4, 871,680
10, 428,470
18,758,145
303
10,215
8, 567
' 5,050,814
00
00
00
00
00
00
34,077,380 00
28, 000
$28, 000 00
9, 300,000
$9,300, 000 00
29,888,905
6,105
14, 505
1,767, 642
29, 838,905
3, 052
3. 626
176, 764
28, 000
28, 000 00
9,300,000
9,300, 000 00
31, 627,157
30, 022, 347 95
5,519
4,519
1, 696, 613
275 95
135 57
16, 966 13
28, 000 00
28, 000
9, 300, 000
9, 300, 000 00
.
1, 706, 651
17, 377 65
38,384,622
64,117,105 60
STATES DURING THE CALENDAR YEAR ENDED D E C E M B E R 31,
Pieces.
1885.
NEW ORLEANS.
CARSON.*
Value.
Pieces.
Value.
00
50
25
20
TOTAL.
Pieces.
Value.
9,450
$189, 000 00
693 778
481, 527
1,813, 006
910
887
12,205
9,450
189, 000 00
3, 002, 313
228,000
• 228, 000 00
9,185, 000
$9,185, 000 00
128, 697, 767
' 6,130
14, 530
2, 577,117
228, 000
228, 000 00
9,185, 000
9,185,000 00
31,295,544
28,962,176 20
1, 476,490
4,790
11, 765, 384
73, 824 50
143 70
117,653 84
13, 246, 664
191, 622 04
47, 544, 521
' 56,926, 810 74
237,450
417, 000 00^
9,185,000
9,185, 000 00
tincludes 1,837 recoined.
H. Ex. 2 — 1 6
$13, 875, 560
4,815,270
9, 065, 030
2, 730
9 217
12, 205
00
00
00
00
50
00
27, 773, 012 50
128, 697, 767
3 065
. .3, 632
957 711
00
00
50
70
242
R E P O R T ON T H E FINANCES.
V I I . — S T A N D A R D OUNCES I N BARS MANUFACTURED
*
COINAGE MIN'TS.
ASSAY OFFICES.
Description.
Philadelphia.
T o t a l gold
Carson.
N e w Orleans.
New York.
S t a n d a r d ozs. S t a n d a r d ozs. S t a n d a r d ozs. S t a n d a r d ozs.
28, 434. 698
GOLD. ,
Fin© b a r s
Mint bars
Standard bars
Sterlincr b a r s
Unnart<*d b a r s
- San
Francisco.
'
S t a n d a r d ozs.
749,167.800
61, 377. 973
i
- ..
230.913
28, 434.698
.
39, 804.892
5. 783 \
230.913
i
850, 356.448
SILVEB.
15, 014. 64
Standard bars
Sterling bars
Unuarted bars
1,156, 693. 61
696.57
4,473,212.50
833,772.94
18,462.25
3,877.15
446, 872. 60
^ 696. 57
5, 776,197. 44
8, 038.15
.
23,052. 79
Total silver
1,156,693.61
1
VIII.—VALUE
OF BARS MANUFACTURED DUR
COINAGI : MINTS."
Description.
1 ASSAY OFFICES.
i
j
Philadelphia:
San
Francisco.
Carson.
N e w Orleans.!
i
New York.
GOLD.
$529,017 04
Mint bars
Standard bars
Sterlinj? b a r s
"*
... .-
$13, 938, 005 58
1,141, 915 77
--
T o t a l ffold
529,017 64
$4,296 06
7 4 0 , 0 ^ 13
107 59
4, 296 06
15, 820, 585 07
.SILVER.
Fine bars
-. 1
"Mint b a r s
Standard, b a r s
StGrliii*'' b a r s
--•....
UnDartfid b a r s . . . . . . . Total silver
17,471 58 $1, 345, 970 72
5, 205,192 73
810 55
970,208 51
21, 483 34
4, 511 58
519, 997 20
810 55
6, 721, 393 36
9, 353 48
26, 825 06 1,345,970 72
r
243
DIRECTOR OF T H E MINT.
DURING T H E FISCAL YEAR E N D E D J U N E 30,1886.
'
ASSAY OFFICES.
TotaL
Denver.
Bois6.
Helena.
Standard ozs.
Standard ozs.
Standard ozsi
' Charlotte.
Saint Louis.
Standard ozs.
Standard ozs.
Standard ozs.
777,602.498
61,377.973
62, 065.245
6,493. 676
57, 744.165
11,074.264
6,560.336
39,804.892
144,174.382
62, 065.245
6,493. 676
57, 744.165
11,074.264
6,560.336
1, 022, 959.745
14,781.68
1,417.16
97,305.37
1,037.73
6,822.52
5,644,920.75
•833,772.94
18,462.25
11,915.30
568,933.63
14,781.68
1,417.16
97,305.37
1,037.73
6,822.52
7,078,004.87.
ING T H E F I S C A L Y E A R ENDED J U N E 30, 1886.
ASSAY OFFICES.
Total.
•
Denver.
Boi86.
Helena.
Charlotte.
Saint Lonis.
.
\
L
$14,467,023 22
1,141,915 77
,
\
$1,154,702 23
$120,812 58
$1,074,310 05
$206,032 82
$122,052 76
740, 556 13
2,682,314 09
1,154,702 23
120,812 58
1,074,310 05
200.032 82
122, 052 76
19,031,809 21
^
i
17,200 49
1, (549 05
113,228 07
1,207 54
7,938 93
6,568, 635 03
970,208 51
21,483 34
13,865 06
662.031 83
17,200 49
. 1 , 649 05
113,228 07
1,207 54
7,938 93
8,236, 223 77
.
'
244
R E P O R T ON T H E FINANCES.
I X . - STATEMENT O F EARNINGS AND E X P E N D I T U R E S OF T H E U N I T E D STATES
EARNINGS
MINTS.
Sources.
San
Philadelphia. Francisco.
NewOrleans
Parting and refining charges
Alloy charge
Carson.
$13,067 43
$56,355 91
$703 09
$47 86
248 83
2,417 36
8 52
84
3,923,684 87
7,738 77
1,827,809 07
Charges for assaying, melting, and stamping
Seignorage on standand silver dollars
Seignorage on subsidiary silver
'-
62 38
Seignorage on minor coins
418 61
Profits on sale of medals and proof-coins .
2, 532 06
Receipts from assays of bullion
Deposit melting-room, grains and sweepings
1
Surplus bullion returned by operative ofRcers .
268 00
79 00
27 00
3 00
932 93
787 13
448 66
'149 53
4, 384 42
34,090 32
968 94
161 00
554 17
3,946,568 47
101,629 49
1, 829 610 51
Gain on bullion shipped the mint for coinage . .
Proceeds of sale of old material
Receipts from sale of by-products
Total.
4,819 52
EXPENDITURES
Salaries of officers and clerks
$38,782 89
$41,900 00
$31,862 32. $10, 345 12
Wages of workmen and adjusters
373,759 73
174,654 59
103, 996 06
^ 9, 085 50
64,969 17
34,729 61
35,146 61
1, 635 11
5,743 92
58, 318 14
1,411 36
584 31
Contingent expenses, less amoxmt paidforwastafffi and loss on sweens sold . o . . . . . . . . . . . . . . . . .
Parting and refining expenses, less amount paid
for wastage and loss on sweeps sold
7,174 10
Wastages of the operative departments
11, 713 p9
5, 760 54
2, 564 32
2, 406 67
1, 640 87
Expense of distributing silver dollars
,90, 727 22
11, 433 51
38,711 03
26,433 81
Expense of distributing subsidiary silver corns.
454 95
2 90
Exuense of distributinsr minor coins
847 17
220, 708 15
49,724 72
Minor-coinage metal wasted
78 96
Loss on sale of nlumbic melts
592, 838 54 323, 603 07
Total
_!
Z.
i
245
DIKECTOR OF T H E MINT.
M I N T S AND ASSAY O F F I C E S F O R T H E FISCAL YEAR ENDED J U N E 30, 1886.
AND GAINS.
ASSAY OFFICES. '
New York.
Denver.
Boi86.
Charlotte.
Helena.
SaintLouis.
$92, 621 24
Total.
$162, 855 53
952 10
3, 627 65
$1, 475 75
$152 47
$306 18
$1,449 60
$167 79
3,551 79
5,763,851 00
62 38
418 61
2,532 06
420 00
39 00
122 00
133 25
531 50
114 00
1,736 75
4,318 38
2, 285 97
120 43
199 40
2,068 03
58 00
11,368 46
2, 220 10
601 67
978 14
1,162 54
363 88
16, 547 85
2, 224 10
55,022 59
1,159 60
80 62
5,326 33
5 148 43
17,178 81
17,178 81
7,180 42
996 57
1,616 97
5,292 29
703 67
6,032,680 39
$38, 828 80
$10, 435 70
$3, 000 00
$2, 750 00
$7,926 65
$3, 500 00
$189, 331 48
22, 909 50
10, 735 75
3, 864 75
517 25
11, 647'19
1, 382 50
712,552 82
6, 617 47
3,257 28
1,122 42
608 35
7,448 48
498 93
156, 033 43
134, 262 48
AND LOSSES.
100,497 29
'
318 10
4, 764 85
166, 555 02
19, 206 19
17,137 25
167,305 57
457 85
/
847 17
-
78 96
86 08
174, 022 09
86-08
24, 428 73
7,987 17
3, 875 60
27, 022 32
5, 381 43
1, 429, 591 82
246
REPORT ON T H E FINANCES.
X.—MEDALS
MANUFACTURED AT THE MIJST AT P H I L A D E L P H I A
THE FISCAL YEAR ENDED J U N E 30, 1886.
Names.
Adams Academy
Agassiz, Professor
Allegiance
Alumni Association, Philadelphia College
'
American Pomological Society
American Society of Civil Engineers
Army Marksmanship, First Prize
r..
Army Marksmanship, Second Prize
Army Marksmanship, Third Prize
\
Army Marksmanship, Skirmish
Arthur, C. A., President
Baltimore Female College
Bridge, San Francisco, School.
Brown Memorial
Burchard, H. C , Director of the Mint
Commencement of Cabinet
Corcoran Gallery of Art
Denman School
.-..
Department Marksmanship Prize
Department Marksmanship Skirmish Prize
Division Marksmanship, First Prize
;
Division Marksmanship, Second Prize
Division Marksmanship, Third Prize
Division Marksmanship, Skirmish Prize.
Dodd, Hannah M
Emancipation Proclamation
FiUmore, Millard, President
'
Franklin School, Boston
Grant, Major-General
Grant, U. S., President
.
-..
Harrison, W. H., President
Indian Peace —
Jefferson, Thomas, President
Johnson, A., President
Ketchum, J
Life-Saving
Lincoln, A., President
Lincoln and Grant
Lincoln School
LindGrman, H. R., Director of the Mint
McKee, Pittsburgh Female College. Massachusetts Horticultural Society
ISTew England A gricnltural Society
New England Kenuel Club
:
New York State Agricultural Society
Norman
North Cosmopolitan School
Pancoast, Dr. Joseph
j.
Pennsylvania Horticultural Society
,
Pennsylvania Institution for Instruction ofthe Blind.
Gold.
Silver.
DURING
Bronze.
10
10
10
13
6
10
10
5
21
10
5
32
30
5
2
12
247
DIRECTOE OF T H E MINT,
- M E D A L ^ MANUFACTURED AT T H E M I N T AT P H I L A D E L P H I A DURING
TriE FISCAL YEAR ENDED J U N E 30, 1886—Continuecl.
Gold.
•Names.
Bronze.
1
2
Philodemic Society, Georgetc wn College
Scott John
Seward—Itobinson
Shakf speare
Society of Cincinnati
Saint John's Commandery, Knights Templar
Saint Louis Agricultural and Mechanical Association.. The Cabinet Medal
•.
...
Vermont Agricultural Societ 7 . .
Yessel Owners and Captains' Association
.......
Washington and Lee Univer 3ity
37
5
1
10
50
24
'.
20
1
15
404
307
7
' 54
•
Silver.
\
]^Io—MEDALS AND P R O O F SETS SOLD DURING T H E FISCAL YEAR ENDED
J U N E 30, 18«6.
Medals.
Proof sets.
Description
Number
sold.
Gold...
Silver..
Bronze.
Total .
Value.
Number
sold.
Value.
55
523
298
$3,014 46
I, 002 93
634 80
44
773
2,541
$1, 892 00
2,319 00
• 304 92
876
4,652 19
3,358
4, 515 92
248
REPORT ON THE FINANCES.
X I I . — C O I N A G E AND M E D A L D I E S MANUFACTURED AT T H E M I N T AT
P H I L A D E L P H I A DURING THE FISCAL Y E A R ENDED J U N E 30, 1886.
For San
Franciseo.
For Philadelphia.
Denominations.
/
For New
Orleans.
Total.
F O B GOLD COINAGE :
Ea^le •
Half-eagle
Three dollar
Quarter-ej-gle
Dollar
25
40
40
27
3^
25
71
79
4
2
6
2
6
:
Total
74'
4
183
80
241
2
105
FOR SILVER COINAGE:
Standard dollar
Half-dollar
Quarter-dollar
Dime
....•--•--.•'•-.
----
161
2
37
37
Total
80 i
200
• 2fi0
F O R MINOR COINAGE:
Five cent
Three cent
One cent
Total
/
7
4
17
7
4
17
28
28
TOTAL NUMBER OF DIES.
Gold coinage
—:
Silver coinage
•
Minor coinage
Proof coinage
President Cleveland Indian Peace
^
Lincoln Presidential
Annual Assay
,
President William Henry Harrison
>
Daniel M. Fox, Superintendent United States Mint, Philadelphia
Reproductions:
Washington before Boston, obverse and reverse
-
^
Total
;.
^
183
280
28
26
1
2
2
2
2
2
' \
-.528
249
DlidECTOR OF- T H E MINT.
IJ
X I I I . — E X P E N D I T U R E S PROM S I L V E R P R O F I T F U N D ON ACCOUNT O F T R A N S PORTATION OF S I L V E R C O I N D U R I N G F I S C A L YEAR ENDED J U N E 30,
BY
MINTS.
•
' '
'
'
1
•
'
'
1886,
.
.
i
TRANSPORTATION O F —
Mint and quarter.
standard
sUver dollars.
Bags,
b o x e s , labor,
a n d inSubsidiary
cidentals.
silver.
Total.
Philadelphia Mint:
T h i r d q u a r t e r 1885
$3,222 14
$55 02
$18 41
$3,295 57
F o u r t h q u a r t e r 1885
81,115 79
147 43
133 05
8i; 396 27
2, 661 91
251 25
134 00
3,047 16'
3, 039 92
1 25
402 00
3,443 17
454 95
687 46
91,182 17
278 90
871 00
2 90
1,002 70
4, 529 71
F i r s t q u a r t e r 1886
Second q u a r t e r 1886
•
90, 039 76
Total
San F r a n c i s c o M i n t :
592 10
TliiTfl rinartpr 1885
F o u r t h o u a r t e r 1885
3, 524 11
F i r ^ t n n a r t p r 1886
2, 519 70
2, 519 70
Sppmirl n n a r t f r 1886
3, 516 00
3, 516 00
10,15191
Total
1,281 60
2 90
11, 436 41
Carson M i n t :
1,129 21
504 60
T h i r d Q u a r t e r 1885
1, 633 81
24, 800 00
24,800 00
F i r s t o u a r t e r 1886 .
SproTifl m i a r t e r 1886
Total
'
N e w Orieaus M i n t :
T h i r d ciuarter 1885
'
F i r s t o u a r t e r 1886
•
1,129 21
26, 433 81
'
.
Totals b y items
^
^
805 68
2, 026 42
2,832 10
23, 645 99
2,475 64
26,121 63
4,436 23
582 33
. 5, 018 .56
1
4,426 92
311 82
4,738 74
'
33, 314 82
5, 396 21
38, 711 03
L
158,811 09
8,494 48
167, 763 42
'
Spfiond o u a r t e r 1886
Total
25, 304 60
-
1,
457 85 j
250
R E P O R T ON T H E FINANCES.
Xiy.—STATEMENT
S H O W I N G T H E SEIGNORAGE ON T H E COINAGE OP S I L V E R AT
DISPOSITION
DR.
1885.
Julyl.
Balanceonhand:
Philadelphia
SanFrancisco
Carson
NewOrleans
'.
T
$230,823
25,587
1
31,045
437,910
17
22
56
12
$725, 366 07
Seignorage on silverdollars: •
Philadelphia
SanFrancisco
Carson
NewOrleans
,....
3,923,684 87
7,738.77
4,618 29
1,827,809 07
5, 763, 851 00
Seignorage on subsidiaiy silver:
Philadelphia
62 38
> 02 3 8
Total.
6,480,^279 45
251
DIRECTOR OF T H E MINT.
THE M I N T S O F T H E U N I T E D STATES FROM J U L Y 1, 1885, TO J U N E 30,1886, AND T H E
OF
THE
SAME.
*,
|
i
CR.
Paid expenses of distribution: i
PhUadelphia
SanFrancisco
:
Carson....
NewOrleans...
1
.$91,182 17
11,436 41
26,433 81
38,71103
.'-
I
,
aid on account of wastage andlloss on sale of sweeps:
Philadelphia . . . .
[....
SanFrancisco
J
Car'son
[
NewOrleans'.
L
^J..
I
"
$167,763 42
:
6,882 26
22 62
929 90
9,132 09
16,966 87
Deposited in the Treasury as follows:
j
j
/
PHILADELPHIA.
Warrant No.2311
i
No.l653.:........L
lSro.2199
1
No.2235
',
I
=
230,823
1,000,000
778,847
1,700,000
17
00
83
00
3, 709,671 00
I
NEW ORLEANS.
Warrant No. 2312
No.1003...
No.2236
No.2200
L
L
...'.
[
437,910
254,619
909,599
' 431,247
,
„„
12
10
97
39
i
2,033,376 58
CARSON.
Warrant No.862
'......'^
8,300 14
I
1888.
J u n e 30. Balance on hand:
Philadelphia....
SanFrancisco
New Orleans ....'
Total
'.
I
[
..j
'
~
'.
*346,834 99
21,866 96
*184^ 499 49
i .
....„
* These balances have been covered into the Treasury:
Philadelphia, C. D. No. 37286 .'...'
'
$346, 834 99
New Orleans, C. D. No. 37129
j
184^ 499 49
8,300 14
-
553,201 44
6,489,279 45
252
REPORT ON T H E FINANCES.
X V . — A M O U N T E X P E N D E D F O R T H E DISTRIBUTION O F M I N O R COINS PROM
J U L Y 1, 1878, TO J U N E 30, 1886.
Amount expended.
Fiscal years.
1879
,
$1, 299 97
1880
.....'
1881
1882
12, 592 83
,
.
23, 763 46
-
24, 565 84
1883
28, 512 54
1884
1885
1
29,152 32
.
12,251 98
Total
132, 986 11
1886
847 17
X V I , — W A S T A G E AND L O S S ON SALE OF S W E E P S , 1886.
San Philadelphia Francisco Carson
mint.
mint.
mint.
Losses.
Melter and refiner's gold
$7,843 78
wastage
456 58
Coiner's gold wastage . . .
Melter and refiner's silver wastaffe
Coiner's silver wastage .. 3,413 63
Loss on sale of sweeps .. .5, 760 54 $2, 564 32 $1,640 87
Total-
17, 474 53 2,564 32
1,640 87
New Or- NewYork
leans mint. assay offlce. Total.
•
1
$17 79
$7,861 57
456 58
5,118 51
2,037 80
2, 406 67
5,436 61
5,451 43
4, 764 85 17,137 25
9, 580 77
5, 082 95 36, 343 44
$318 10
P A I D AS F O L L O W S :
From contingent appropriation
— 4, 086 54
357 09
From parting aud refining appropriation
316 84
344 62
From surplus bullion
6,188 89 1,839 99
From silver-profit fund.. 6, 882 26
22 62
Total
'
17,474 53
2, 564 32
355 48
4, 799 11
355 49
929 90
448 68
9,132 09
1, 016 95
5. 082 95 13, 560 51
16, 966 87
1, 640 87
9, 580 77
5, 082 95 36, 343 44
253
DIEECTOR OF T H E MINT.
X V I I , — C O N S O L I D A T E D ! TABULATED STATEMENT OF EXPENDITURES AT
THE
U N I T E D STATES
Y E A R 1886.
MINTS
•
AND ASSAY
|
OFFIC]^^ DURING T H E FISCAL
,
'
Ordinary.
Articles.
Acids..... -•
•
Refinery.
Total.
$2,876 99
$41, 458 34
Charcoal
5, 601 31
1, 427 16
7,028
Chemicals
10, 552 02
1, 629 45
12,181
Coal
25, 307 62
6, 743 37
32, 050
Coke
3, 479 35
$44, 335
3,479
Copper
15,191 82
5, 341 31
20, 533
12,444
Crucibles
10, 308 49
2,135 65
Dry goods
2, 372 75
1, 502 58
3,875
Gas
8, 214 18
1, 089 56
9,303
4,171 81
552 30
4,724
2, 463 44
558 42
3,021
970 03
78 75
1,048
2, 715 74
20 94
2,736
712 57
700 11
1,412
Labor
2,725 36
2, 360 25
5,085
Lumber
2,437 39
1,194 26
3,631
Machinery
2, 814 85
1, 718 22
4,533
Metal work and castings .
2, 632 85
2, 750 98
5,383
Mittens and sleeves
3, 305 34
2 00
3,307
Oil and belting
2, 960 97
32 81
2,993
Printing
1,101 13
Repairs
15, 313 78
7, 368 21
22, 681
Gloves
Hardware
,
Iron and steel
Ice
Loss on sweeps
1,101
13 11
239 72
252
Sundries.
26, 001 21
3, 431 27
29, 432
Wood
11, 216 63
685 71
11, 902
Salt.-
Zinc
2, 254 98
2,254
189, 331
Sal'aries
189, 331 48
Wages of workmen
712, 552 82
82, 295 62
794, 848
1, 067, 345 04
167, 571 97
1,234,917 01
,...-.
$19,031,809 21
8,236,223 77
Total.
Bars manufactured:
Gold
Silver
:
-
Total
Coinage executed:
' Gold
Silver
Minorcoins
Total
27,268,032 98
...,.'
\
L
!
-
-
34,077,380 00
30,022,347 95
17,377 65
64,117,105 60
254
REPORT
ON T H E FINANCES.
X V I I I . — S T A T E M E N T SHOWING T H E ASSETS AND L I A B I L I T I E S O F
ASSETS.
GOLD
BULLION.
SILVER
BULLION.
Institutions.
COINAGE
Standard
weight.
Value.
1,131,491.016
Standard
weight.
V a l u e (cost).
MINTS.
Philadelphia
$21, 050, 995 51
1, 682,149 38
San F r a n c i s c o
56, 748. 258
'1,055,781 56
409, 052 28
377, 726 21
N e w Orleans
25, 702.407
478,184 31
1,171, 565 54
1, 061, 911 78
19, 798, 084 99
501,189 17
3, 062.400
56, 974 89
1,148 00
1,020 38
' 620. 593
11, 545 92
152 00
134 41
Saint Lonis.
153. 891
2, 863 05
Total.
2, 281, 925. 645
ASSAY
$1,527,199 56
OFFICES.
New York
j 1, 064,147.
• 500, 557 08 i
Denver.
Helena
:
t
-1
Bois6
Charlotte ...
42, 454,430 23 |
71 25
3, 765, 936 27
3,468, 620 67
LIABILITIES.
Bullion fund.
Institutions.
Undeposited
earnings.
COINAGE MINTS.
$57,107, 684 08
Philadelphia
25,135, 348 23
San Francisco
New Orleans
.
-
-
-
-
.-_
4, 827, 780 58
ASSAX OFFICES.
New York
Denver
i
Helena
48, 306, 799 59
$15, 697 20
151,172 93
1,446 60
109, 734 22
1, 621 13
Bois^
26,215 90
83 19
Charlotte
17,735 07
648 72
16,674 13
16 76
135, 699,144 73
19,513 60
SaintLouis
....
Total
--J
-
---
255
DIRECTOR OF T H E MINT.
U N I T E D STATES M I N T S AND ASSAY | O F F I C E S , J U N E 30,1886.
I
Minorcoin.
Silver coin.
Gold coin.
ASSETS.
Minor
coinage
metal.
Value of bull- Old deficienion shipped cies brought
forward.
for coinage.
Total.
•
$6,530,970 00
$28,463,228 04
4,074, 820.00
19,236,693 84
35, 770 00
3,436,487 77
$4,003 51 $46,124 22
$57,622,520 84
*$4i3, 557 96
25,158, 579 57 ,
1
5,012, 353 86
'
28,068, 584 84
70,537 27
48,437, 764 18
43, 995 68
t$108,623 85
152, 619 53
9, 359 70
t44,000 38
111,355 35
14,444 44
26,299 09
f6, 941 48
18,383 79
\
10,174 32
,
11,442 31
13,832 90
38,798,949 75
16,767 20^
51,206,946 92
4,003 51
46,124 22
164,010 15
413,557 96
130,556, 643 41
LIABILITIES.
Seignorage on
sfiver.
Unpaid
depositors.
Minor-coin
profits.
Minor-coin
metal fund.
^ Unpaid cent
depositors.
Total.
1
$346, 834 99
$117,874 04
21 866 96
1, 364 38
25,158, 579 57
184 499 49
73 79
5,012,353 86
115,267 39
48,437,764 18
$57'73
$70 00
$50,000 00
$57, 622, 520 84
152,619 53
1
_
111,355 35
1
76 31
553, 201 44
234, 655 91
26,299 09
^
i
18, 383 79
'
16, 767 20
57 73
50,000 00
70 00
* Prior to the organization ofthe Bureau of the Mint.
t Included in balance 'of bullion at the Philadelphia Mint.
J Included in balance of bullion at the Assay Office at New Ylork.
136,556, 643 41
256
R E P O R T ON T H E FINANCES.
X I X . — S T A T E M E N T SHOWING T H E N U M B E R OF STANDARD OUNCES AND
COST OF T H E S I L V E R BULLION DELIVERED ON PURCHASES AT THE
COINAGE M I N T S , AND T H E N U M B E R O P S I L V E R DOLLARS COINED, EACH
M O N T H FROM J U L Y 1, 1885, TO J U N E 30, 1886.
Standard
ounces.
Months.
Cost.
Coinage.
1885.
July
1,736,566.77
$1, 676, 637 83
August
1, 921,863.44
i, 852,363 51
2,475, 000
September
2, 03^; 779.59
1, 914,237 10
2, 500, 000
October
2, 6i3, 842.18
2,468,012 22
2, 500,050
2,018,334.07
1, 876, 634 61
2, 500, 000
2,644,043.08
2, 455,404 68
2, 500, 330
November
:
December
$1,900,000
1886.
January
*-
February
V747,380.11
2,616,288 71
2, 600, 000
1,671,400.90
1, 543,190 25
2, 600, 000
March
2, 059,453.71
1,^906,010.53
2,600,360
April
2,131, 314. 75
1,964,984 24
2,600,000
1,934,483 77
2, 600, 000
2,240,712 56
2,463,165
May
t
2,126, 52j5. 82
' 2,508,33L18
June
Total..^
25, 211, 836, 60 23,448,960 01
29, 838,905
.Purchased and coined from March 1,1878,
to J u n e 30, 1885
,
177, 353,485.17 179, 937,520 44
203,882,544
Purchased and coined from March 1,1878,
to June 30,1886
202, 565, 271. 77 203, 386, 480 45
233, 721,449
Monthly average July 1, 1885, to June 30,
1886......
2,100, 986,33
1, 954, 080 00
2,486, 576
Monthly average for 100 months
2, 025, 652. 70
2,033,864 84
2,337,214
1
257
DIRECTOR OF T H E MINT.
X X . — S T A T E M E N T OF S I L V E R BULLION DELIVERED AT EACH M I N T ON
PURCHASES FROM J U L Y 1, 1885, TO J U N E 30, 1886.
NEW ORLEANS.
PHTT, A D E L P H I A .
Month.
Standard ounces.
Cost.
Standardounces.
Cost.
1885.
July
1, 340,367. 87
$1. 294, 246 54
396,091. 56
$382, 288 04
August
1,783,572.41
1, 720, 443 41
129,236.85
123, 261 54
September .-.
1,144,769. 66
1, 079,129 88
880,197.72
827, 848 75
October
1, 907,021.66
1,809, 682 03
699, 273. 32
651, 532 90
November
1, 048, 770.33
975,198 23
961,580.19
894, 236 48
December
1,707,558.33
1, 587, 932 91
930,152. 59
861, 620 38
1, 227, 008. 50
1,136, 354 59
497,725.53
459,196 89
1,168,'717. 97
1, 079, 522 24
497, 256. 21
458, 781 87
March
1, 3^3, 994.63
1, 225, 566 91
730, 930.23
676, 294 95
April
1, 468, 390.10
1,355, 567 74
623,253.54
573, 286 96
May
1, 383, 240.49
1, 260, 986 85
635, 311. 45
576, 684 69
June
1, 513,065. 71
1,353, 271 14
913, 791. 33
814, 579 36
17, 016,477. 66
15, 877, 902 47
7, 894,:800. 52
7, 299,.1B12 81
1886.
January
February
."..
Total
1
SAN FRANCISCO.
Month.
Standard;
ounces.
Cost.
I Standard Cost.
Ounces.
Cost.
1885.
107. 34 $103 25
Jtdy
1, 736, 566..77 $1, 676, 637 83
August
9, 018.341
$8, 624 35
35.84
34 21
1,921,863.44
September . .
7, 800. 611
7, 247 11
11.60
11 36
2, 032, 779. 59 , 1, 914, 237 10
5.08
4 58
2, 613,842.18
2, 468, 012 22
69.72
69 72
2. 018, 334. 07
1, 876, 634 61
1, 852, 363 51
October
7,542.121
6,792 71
November...
7, 913.83!
7,130 18
December...
6,332.16!
5, 851 39
22, 646. 08
20, 737 23
1,747,380.11-
1, 616, 288 71
February . . .
5, 426. 72
4, 886 14
1, 671, 400. 90,
1,543,190 25
March
4, 528. 85
4,148 67
2, 059, 453. 71
1, 906, 010 53
April
39, 671.111
36.129 54
2,131,314.75
1, 964, 984 24
107, 974. 88
96, 812. 23
2,126, 526. 82
1, 934, 483 77
81, 474.14
72,862 06
2,508,331.18
2, 240, 712 56
300,328.84
271,221 61 I
223 12 125,211,836.60
23, 448, .960 01
2, 644, 043. 08 . 2, 455,404 68
1886.
January
May
.-
June
Total.
H. Ex. 2-
-17
229.58
258
REPORT ON THE FINANCES.
XXI.—STATEMENT OF BULLION CONSUMED IN THE COINAGE OF
RECAPITULATION'
MANUFACTURED.
Month.
I Standard ounces.
Cost.
1885.
July
August
September
October
November
December
1,632,812.50
2,126,953.12
2,148,480.47
2,148,437.50
2,148,437.50
2,148,721.09
-
$1,582,571 32
2,057,566 18
2,055,758 34
2,043,143 34
2,029,223 44
2,013,677 70
1886.
January
February
March
April
May
June
2,234,375.00
2,234,375.00
2,234,684.38
2,234,375.00
2,234,375.00
2,116,782.42
Total
25,642,808.98
2,084,850 92
2,079,780 69
2, ObO, 903 69
2,071,888 30
2,055,755 18
1,919,934 90
24,075,054 00
RECAPITULATION!
MANUFACTURED.
,
Standard ounces.
Philadelphia
San Francisco
Carson
New Orleans .•
Total
Cost
j
17,586,168.36
40,390.62
24,062.50
7,992,187.50
$16,540,220 13
39 261 23
23 381 71
7,472,190 93
j
25,642,808.98
24,075,054 00
•.
259
DIRECTOR OF T H E MINT.
S I L V E R DOLLARS AND T H E WAST^AGE AND L O S S <M SALE OF S W E E P S .
BY MONTHS.
a
1
WASTAGE AND SOLD IN SWEEPS.
Standard
ounces.
1,68&81
394.27
9,283.36
5,007.75
TOTAL CONSUMPTION.
Standard
ounces.
Cost
1,634|50L31
$1,688 81
2,127' 347.39
382 12
8,983 84 L 2,157j763.83
2,148U37.50
2,148^437.50
2,153; 728.84
4,939 83
Cost. \
Number of
standardsilver
dollars coined
Seignorage.
$1,584,260 13
2,057,948 30
2,064,742 18
2,043,148 34
2,029,223 44
2,018,617 53
1,900,000
2,475,000
2,500,050
2,500,000
2,500,000
2,500,330
2,236,723.17
' 2,234359.40
2,234,684.38
2,234870.44
2, 240, 358.12
2,132,010.29
2,087,042 07
2,081,765 09
2,080,903 69
2,074,383 74
2,061,257 13
1,934,323 27
2,600,000
2,600,000
2,600,360
2,600,000
2,600,000
2,463,165
24,117,609 91
29,838,905 1
2,348.17
1,984.40
2,191 15
1,984 40
2,495.44
5,983.12
15,227.87
2,495 44
5,501 95
14,388 37
44,413.19
42.555 91 1 25, 687,222.17
'
. <!,
1
B T MINTS.
WASTAGE AND SOLD IN SWEEPS. i
Standard
ounces.
TOTAL CONSUMPTION.
Standard
ouiices.
Cost.
Cost,
Total standard
silver dollars
coined.
Total
seignorage.
1
17,187.59
*2,540.62
1,495.78
23,189.21
44,413.20
59
05
46
83
17,603,355.95
42,931.24
25,558.28
8, 015,376.71
$16,557,407 72
41,636 28
24,835 17
7,493,730 76^
$20,463, 905
47,000
28.000
9,300,000
$3, 923, 684 87
7, 738 77
4, 618 29
. 1,827, 809 07
42,555 93
25,687,222.18
24,117,609 93
29,838,905
5,763,851 00
$17,187
2,375
1,453
21,539
* Includes .01 standard ounce, cost $0.02, transferred to recoinage account (subsidiary silver).
260
R E P O R T ON T H E FINANCES.
X X I I . — S T A T E M E N T O F B U L L I O N MADE
INTO
STANDARD S I L V E R DOLLARS AND I
FROM J U L Y 1,1885, T O '<(
MINT A T P H I L A D E L P H I A .
MANUFACTURED.
Month.
Standard
ounces.
Cost.
1885.
July
August
September .
October
November.
December..
1,546,875.00
1, 546, 875. 00
1,460,980.47
1,460,937.50
1,460, 937. 50
1,461,221.09
$1,499,174 71
1,495,185 07
1, 397, 717 30
1, 390,920 77
1,382,213 06
1, 370,279 67
1,460, 937. 50
1,460, 937. 50
1,461,246. 88
1,460, 937. 50
1, 460; 937. 50
1,343, 344. 92
1, 363,131 16
1,359,941 19
1, 362, 526 66
1,355, 724 40
1, 344, 518 14
1, 218, 888 00
17 586,168. 36
16, 540, 220 13
1886.
January...
February .
March.
April
May
June
Total.
MINT A T SAN FRANCISCO.
1885.^
July
August
September to November .
December
$39,261 23
1886.
January to May.
June
Total.
40,390. 62
39,261 23
24,062.50
$23,381 71
24,062.50
23,381 71
M I N T AT CARSON CITY.
1885.
July
August
September to November.
December.:
1886.
January to March.
April to June
TotaL
* Inciudes :01 standard ounce; cost, $0.02
261
DIRECTOR OF THE MINT.
"^WASTAGE
JUNE
AND LOSS
ON
SALE!
OF
SWEEPS
AT T H E COINAGE
MINTS
FROM
30, 1886.
M I N T : A T PHILADELPHIA.
WASTAGE AND SOLD IN SWEEPS.
Standard
ounces.
1,688. 81
2,293.42
TOTAL CONSUMPTION.
Standard
ounces.
Cost.
$1, 688 81
2, 293 42
2,767.46
2,767 46
1, 984.40
1,984 40
2,495.44
2,495 44
5,958.06
5,958 06
17,187. 59
Number of
standard silver | Seignorage.
dollars coined.
Cost.
1, 548, 563. 81
1,546,875.00
1,433,273.89
1,460,937. 50
1,460, 937. 50
1, 463, 988. 55
$1, 500, 863 52
1,495,185 07;!
1, 400,010 72
1, 390, 920 77 'I
1, 382,213 06
1, 373, 047 13
1, k60, 937. 50
1, 462, 921. 90
1,461,246.88
1,463,432.94
1,460,937.50
1,349,302.98
1, 363,131 16
1,361, 925 59
1,362,526 66
1, 358, 219 84
1, 344, 518 14 j
1,224, 846 06 I
17,187 59 I .17,603, 355.95
16, 557, 407 72
1,800, 000
$300, 825 29
1,800,000
304, 814 93
1, 700, 050
302, 332 70
1,700, 000
309, 079 23
1, 700, 000,
317, 786 94
1, 700, 330
330, 050 33
1,700, 000
336,868 84
1, 700,000
340, 058 81
1,700, 360
337, 833 34
1, 700, 000
344, 275 60
1.700, 000
355,481 86
1, 563,165
344,277 00
20,463,905 1
3,923,684 87
MINT A T SAN FRANCISCO.
i
!
- 40, 390. 62
*744 52
$718 93
744. 52
$39,261 23 1
fl
47,000 j
*
$7,738 77
718 93
1,796.10
1, 656 12
I 1,796.10
1, 656 12
2,540.62
2,375 05
! 42,931.24
41,636 28
47,000
7,738 77
28,000
$4, 618 29
28,000
4,618 29
MINT A T CARSON CITY.
' 24,062.50
1,495.78
$1,453.46
; 1,495.78
$23,381 71
1,453 46
i
1,495.78
1,453 46 I
tfansferred to recoinage account.
• 25,558.28
24,835 17
262
REPORT ON T H E FINANCES.
X X I I . — S T A T E M E N T O P BULLION MADE
INTO STANDARD S I L V E R DOLLARS AND
FROM J U L Y 1, 1885, T O
MINT A T N E W ORLEANS.
MANUFACTURED.
Month.
Standard
ounces.
, Cost.
1885.
85,937.50
515,625.00
687,500.00
687,500.00
687,500.00
687,500.00
July
August.
September
October
November
December
January
Febmary
March
April
May
June
1886.
—
:..
Total
773,437. 50
773,437.50
773,437. 50
773,437. 50
773,437. 50
773,437. 50
7,092,187. .50
$83,396 61
499,738 17
658, 041 04
652,222 57
647,010 38
643,398 03
721,719
' 719,839
718,377
716,163
711,237
701,046
76
50
03'
90
04^
90
7, 472,190 93
263
DIRECTOR OF THE MINT.
WASTAGE
AND LOSS
ON SALE OF SWEEPS
JUNE 30, 1886--Continued.
AT THE COINAGE
MINTS FROM
'
MINT A T N E W ORLEANS.
WASTAGE AND SOLD IN SWEEPS.
Standard
ounces.
Cost.
TOTAL CONSUMPTION.
Standard
ounces.
Cost.
Number of
standard silver
dollars coined.
Seignorage.
: 85,937.50
: 516,019.27
694,489.94
687,500.00
687,500.00
687,500.00
$83,396 61
500,120 29
664,731 46
652,222 57
647,010 38
. 643,398 03
100,000
600,000
800,000
800,000
800, 000
800,000
$16,603 39
100,261 83
141,958 96
147,777 43
152,989 62
156,601 97
5,501 95
6,774 19
J 775,785.67
773,437.50
: 773,437.50
773,437.50
! 779,420. 62
i 780,9n.21
723,910 91
719,839 50
718,377 03
716,163 90
716,738 99
707,82109
900,000
900,000
900,000
900, 000
900,000
900, 000
178,280 24
180,160 50
181, 622 97
183,836 10
188,762 96
198, 953 10
21,539 83
8,015,376.71
7,493,730 76 1
9, 300, 000
1, 827, 809 07
394.27
6,989.94
$382 12
6, 690 42
2,348.17
2,191 15
5,983.12
7,473.71
23,189.21
264
R E P O R T ON T H E FINANCES.
X X I I I . — A V E R A G E MONTHLY P R I C E OF S I L V E R BULLION, 925 T H O U SANDTHS F I N E , I N LONDON, AND T H E V A L U E OF A F I N E OUNCE, DURING
THE FISCAL YEAR ENDING J U N E 30, 1886, COMPILED FROM D A I L Y T E L E GRAPHIC CABLE DISPATCHES TO THE B U R E A U OF THE M I N T .
Date.
Equivalent
in United States
money of
Equivalent in
Price per
Average
fine bar-silver,
United
Average
monthly
price
ounce, Brit- States
1,000
fine,
money
New
at New
ish standbased on aver- monthly
per ounce
York price
York
of
exard, 925
age
monthly
fine
with
exof
fine
bar
silchange
London quotathousandths
ver.
change at
on London.
tions, with
fine.
par, 4.8665.
exchange at average
monthly rate.
1885.
Pence.
49.194
$L07,839
$4. 86,33
$1. 07,768
$1.07, 282
August
48.832
1. 07, 045
4. 86,78
1.07,075
1.07,138
September ..
47.623
1. 04, 395
4.85,58
L 04,166
1.04,353
October
47.428
L 03, 967
4.86,27
1. 03, 887
1.03,725
November ..
47. 420
1. 03, 950
4.84,95
L 03,587
L 03,630
December...
47.125
L 03, 303
4.86, 81
1.03,338
L 03,182
46.733
L 02, 444
4.89,06
L 02, 951
1.02,930
July
1886.
January
February . . .
46.685
1>. 02,339
4.89,09
1.02,852
L 02,984
March
46.766
L 02, 517
4.88,94
1.02, 999
1.03,027
April
46. 386
1. 01,683
4.88, 32
1. 02, 032
L 02,283
May
45.425
0. 99, 577
4. 88,94
1.00, 046
1.00, 909
June
44.835
0.98,283
4.89,05
0.98,768
0.99,212
47. 038
1. 03,112
4.87, 51
1; 03, 295
1. 03,388
Average.
DIRECTOR
265
O P T H E MINT.
X X I V . — H I G H E S T , L O W E S T AND A V E R A G E P R I C E O F S I L V E R BULLION,
925 THOUSANDTHS F I N E , I N L O N D O N , E A C H M O N T H O F THE CALENDAR
YEAR 1885, COMPILED FROM D A I L Y T E L E G R A P H I C CABLE DISPATCHES
TO THE B U R E A U O F T H E M I N T ,
Months.
January
Highest.
Lowest.
Pence.
50
Pence.
49^
February
March
April
48|
49
-
-. •
49|
50
May
June
m
49i
=
48|
m
49
Average.
Pence.
49. 688
49.125
49. 094
49. 375
49. 437
49.125
July
49^
August
49^
48/B
48. 812
September
48§
47i
47.812
October
47^
47i
47.406
November-
47^
47T«a
47.406
December
47J
464
47.187
48.927
48.844
48. 635
-
Average for t h e year.
49^
49.156
266
R E P O R T ON T H E FINANCES.
X X V . — S T A T E M E N T S H O W I N G B Y MONTHS T H E AMOUNT O F SILVER BULL-
I O N REQUIRED EACH MONTH TO PROCURE | 2 , 0 0 0 , 0 0 0 WORTH AT THE
AVERAGE MONTHLY P R I C E , N U M B E R OF S I L V E R DOLLARS T H E SAME
WILL COIN, A L S O T H E N U M B B R COINED, AMOUNT OF BULLION CONSUMED
AND COST OF SAME FROM J U L Y 1, 1885, TO JUNE 30, 1886, TAKING THE
AVERAGE P R I C E OF T H E P R E C E D I N G MONTHS AS A BASIS.
Months.
of
Average Number
ounces Coining
price per fine
required lo value
in
ounce
procure
silver
fine, for $2,000,000
dollars.
previous worth of
month.
bullion.
Number of Bullion con- Cost of bullion consilver dol- sumed, standsumed.
lars coined. ard ounces.
> 1885.
$1. 07, 712
July
1. 854, 978 $2,398,355
$1,900,000
1,632,812.50
$1,582, 571. 32
2,057,566.18
August
1. 07,768
1, 855, 838
2,399,468
2,475,000
2,126,953.12
September
1. 07 075
1, 867, 850
2,414,998
2,500,000
2,148,480.47
2,055,758. 34
October
1. 04,166
1, 920, 012
2,482,439
2, 500,050
2,148,437.50
2,043,143.34
November
1. 03, 887
1, 925,169
2,489,107
2,500, 000
2,148,437.50
2,029,223.44
December . . . . 1. 03, 587
1, 930,744
2,496,315
2,500,330
2,148,721. 09
2, 013,677.70
1,935,396
2,502,330
2,600,000
2,234,375. 00
2, 084,850.92
1, 942, 672
2, 511,737
2, 600, 000
2,234,375.00
2, 079,780. 69
2,234,684.38
2, 080, 903. 69
1886.
Jannary
1. 03,338
F e b r u a r y . . . . . 1.02,951
March
1. 02, 852
1 944, 542
2, 514.155
2, 600,360
April
1. 02, 999
1, 941, 766
2, 510, 567
2,600, 000
2, 234, 375. 00
2, 071,888. 30
May
1. 02, 032
1, 960,169
2,534,360
2, 600, 000
2, 234, 375. 00
2, 055, 755.18
1. UO, 046
1, 999, 080
2,^584, 670
2, 463,165
2,116, 782.42
1, 919, 934. 90
23, 078, 216
29,838, 501
Total
29, 838, 905 25, 642, 808. 98 24, 075, 054. 00
DIRECTOR OF T H E MINT.
XXVI.
TREASURY DEPARTMENT, B U R E A U O F T H E M I N T ,
Washington, D. C , Septemher 24,1886.
SIR : Tables are herewith presented, taken from the report of t h e Annual
Assay Commission and from assays made monthly in t h e Laboratory, nnder
my charge, showing the number of coins and the fineness of each assayed of
the coinage of the calendar year 1885.
Tables are also presented showing the percentages of coins of the various
degrees of fineness to t h e whole number assayed. The coins tested both by
the Annual Assay Commission and by myself have been far within the legal
limit of deviation for fineness allowed by law.
Very respectfully,
W, P . LAWVER,
Assayer, Mint Bureau.
Dr. J A M E S P. KIMBALL,
Director of the Mint.
267
268
R E P O R T ON T H E FINANCES.
COINS OF THE SEVERAL D E G R E E S O F F I N E N E S S I N P E R
A.-GOLD.
PHILADELPmA.
SAN FFANCISCO.
Fineness.
Annual.
900.4
900.3
900.2
900.1
900 standard
899.9....:
899.8
899.7
899.6
899.5
899.4
899.3
Monthly.
6.66
6.66
20.00
13.33
13.33
26.66
13.33
9.37
6.24
9.36
59.37
15.62
Average fiueness
900. 046
900. 053
Melted in mass
900
1
---
Annual.
Monthly.
18.18
13.62
22.72
4.54
18.18
18.18
4.54
5.55
4.63
17.59
17.59
23.15
li.ll
12.96
3.70
.93
2.77
899.736
899.823
1
899. 875
B.—SILVER.
90L6
90L5
90L4
901.3
90L2
90L1
9ai
900.9
900.8
•
900.7
900.6
900.5
900.4
900.3
900.2
900 1
900 standard
899.9
899.8
899 7
899.6
899.5
899 4
'
899.3
899.2
899.1
899
898.9
898 8
898.7
898.6
898.5
.
898.4
898.3
898.2
2.70
20
8.33
«.
25.00
8.33
16.66
16.66
. . .
8.33
16.66
.85
8.11
20
20
2.70
5.40
2.70
5.40
8.11
2.70
13.51
10.81
20
20
2 70
16.21
8.11
2.70
.85
Average fineness
899.666
Melted in mass
900
.85
3.41
.85
4.27
7.69
7.69
5.12
5.98
9.40
8.54
12.82
1L95
4.27
6.84
.85
5.12
.85
L70
5.40
2.70
899.918
890.980
900
899.750
269
DIRECTOR OF THE MINT.
CENTAGES OF T H E W H O L E N U M B E R OP COINS ASSAYED.
A.-GOLD.
CAESON,
NEW OELEANS.
TOTAL.
TotaU
Annual.
Monthly,
50
j
Annual.
Monthly.
Annual.
Monthly.
6.66
6.66
20.00
13.33
8L51
40.28
86.05
4.54
18.18
18.18
4.54
50
50
50
6.66
16.03
31.79
27. 32
208.47
123. 49
109. 20
15.65
31.14
21.88
5.47
2.'•7
9.37
n.79
13.99 1
126.96
83.21
23.15
n.n
12.96
3.70
.93
2.77
A
•
899.900
899.950
B.-SILVER.
1.92
4.62
20
. 96
L92
8.33
42.84
28.56
8.33
28.56
42.84
8.'33"
28.56
8.33
33.32
16.66
16.66
28.56
.96
3.84
3.84
g
i
L92
3.84
6.72
7.68
L92
7.68
3.84 I
1 .53 I
9.61 i
7.68 i
.76
.96
6.72
5.76
L92
L92
.96
7.32
2.70
fi-'sa
8.33
56. 89
79. 50
25. nn
8.33
^ 49.98
33. 32
24.99
48.56
36.66
,
.96
899.942
900.600
900 2
899.944
900
.96
47.53
43. 92
.85
6.19
14.23
19. 81
44.06
13. 30
17.08
20.49
27.05
21.56
25.46
12.60
.81
22. 65
6.61
3.62
2.70
18.98
8.11
2.70
.96
.85
i
'•''
i
20. 96
7. 32
2.70
I
1
9. 29
47.53
52.25
.85
6.19
71.12
19. 81
123. 56
13. 30
42. 08
28. 82
. 77.03
21. 56
58.78 ••
12. 60
1. 81
47. 64
6,61
52.18
2.70
55.64
8.11
2.70
"
•
.96
.85
899.925
'•
. .. . . .....
1
270
REPORT
ON T H E FINANCES.
T A B L E SHOWING T H E N U M B E R O F COINS AND F I N E N E S S O F EACH FROM
THE COINAGE O F T H E CALENDAR Y E A R 1885, ASSAYED AT T H E ANNUAL
ASSAY, AND M O N T H L Y AT T H E M I N T B U R E A U .
C—GOLD.
PmLADELPHIA.
SAN FRANCISCO.
CARSON.
' NEW OELEANS.
Fineness.
Annual. Monthly. Annual. Monthly. Annual. Monthly. Annual. Monthly.
900.4
900.3
900.2
900 1
900 standard • . .
899 9
399 8
899 7
899 6
899 5
899 4
899 3
Total pieces .
Pieces.
1
1
3
2
2
4
2
15
Pieces.
Pieces.
3
2
3
19
5
4'
3
32
2-2
Pieces.
6
5
19
19
25
12
14
4
1
3
Pieces.
1
i
900.053 899.736
Pieces.
Pieces.
1
1
2
2
899.823 899.900
899.950
108
Average fine900.046
Pieces.
»•—SILVER.
90L6
901.5
901.4
90L3
90L2
901.1
901
900.9
900.8
900.7
900.6.900.5
900.4
900.3
900.2
900.1
, 900 s t a n d a r d .
899.9.........
2
4
7
8
2
8
4
12
10
8
6
1
7
6
2
899.5
899.4.
899. 3 .
899.2.
899.1.
898.8898.7.
898. 6898.5898.4.
898.3898.2.
Total pieces .
12
A v e r a g e fine899.666
ness - .-
104
899. 918 1899. 980
899. 944
899. 925
271
DIRECTOR O F T H E MINT.
X X V I I , — L E G A L W E I G H T , L I M I T S O F TOLERANCE AND ABRASION, L E A S T
C U R R E N T W E I G H T , &>C., OF U N I T E D STATES GOLD AND SILVER COINS.
t
o
1
S'^'-S
cq
c2
Denomination of
coins.
h
li
I-t
as
Least cn rrentweightaft
20 yea ra' wear (standa
weigh t less legal limit
abrasi on).
^
fl
3
h M
"
-§1
.1.1
lis
oflft
<1
GOLD.
Grains.
513.42
Grain.
.129
Grain.
. 0860
256.71
.0645
.0430
128.355
.0322
. 0215
.387
77.013
.0193
.0129
64.25
.322
64.178
.0161 ,
. 0107
25.55
.129
*25.671
.00645
.0103
Grains.
516.0
Grains.
.50
Grains.
515. 50
Eagle
258.0
.50
257.50
Half eagle
129.0
.^5
128.75
.645
Three-dollar
77.4
.25
77.15
Qnarter eagle
64.5
.25
Dollar
25.8
.25
Double eagle —
Grains.
2.58
L29
SILVER.
Dollar .
412.5
L5
41L0
Half dollar
192.9
L5
19L40
.214
Qnarter dollar . . .
96.45
1.5
94.95
137
Dime
38.58
L5
37.08
t. 077
* The limit of tolerance of the gold dollar being ^ of a grain (nearly double the limit of
abrasion), the gold dollar wiU continue currenUuntil reddced in weight below 25.55 grains.
IEstimated at | of 1 per cent, a year.
272
REPORT ON THE FINANCES.
X X V I I I . — C O M P A R I S O N O F T H E BUSINESS O F THE M I N T S AND
COINAGE.
DEPOSITS.
Mints and Assay Offices.
Gold.
Philadelphia
San Francisco
Carson
New Orleans
.;.
Denver
NewYork
. . . .
Bois6
Helena
Charlotte
.^
Saint Louis
1885.
1886.
$18,101,424 04
$23,800,679 85
Pieeei.
453,469
Value.
$2,952,663 50
25,399,707 10
29,011,690 38
1,236,500
20,857.500 00'
2,664,803 72
13,930 78
58,189
10,243,397 18
9,318,643 47
l,051,060/00
i
1885.
1,571,058 13
1,171,902 72
25,248,421 34
22,559,482 11
205,872 54
122,461 63
1,107,223 26
1,187,538 12
187,660 29
207,240 36
101,407 87
129,991 69
J
1...
1
1
.(....
1
'
!
;
'
COINAGE—continued.
Minor.
1885.
«
Pieces.
24, 610,760
Philadelphia
Value.
$527,556 80
San Francisco
Carson
New Orleans
Denver
-
New Tork
Bois6
...
.
.....
,
Helena
Charlotte
.....
Saint Lonis
\
.. . .
J...
,
1886.
Pieces.
1,706,651
j
Value.
$17,377 65
273
DIRECTOR OF T H E MINT.
ASSAY O F F I C E S DURING T H E F I S C A L YEARS 1885 AND 1886.
COINAGE—continued.
t
Gold—Continued.
1886.
Silver.
1886.
1885.
Pieces.
1,059,314
Value.
$'6,997,380 00
Pieces.
17,800, 099
Value.
$15,029,159 95
Pieces.
22,231,495
Value.
$20,645,281 75
^3,991,500
27,080,000 00
2,987, 997
2,908,799 70
67,662
49,066 20
776,000
776,000 00
28,000
28,000 00
10,135,000
10,135,000 00
9,300,000
9,300,000 00
j
i
1
'
(
I
:../.
^
.
^
'
COINAGE—continued.
Total.
1885.
Pieces.
1886.
42,864,328
Value.
$18, 509,280 25
4,224,497
23,766,299 70
834,189
1, 827. 060 00
28,000
28, eoo 00
10.135,000
10,135,000 00
9,300,000
9,300,000 00
Pieces.
24,997,460
Value.
$27, 660, 039 40
4,059,162
27,129,066 20
.
t.
H. Ex. 2—-18
274
REPORT ON T H E FINANCES.
X X V I I I . — C O M P A R I S O N O P T H E BUSINESS O F
BARS MANUFA-CTURED.
GOLD.
!
Mint.
Fine.
1885.
Philadelpliia
.
1886.
j
$529, 017 64
$401,925 76
Carson
1885.
1886.
,
1
.....
!
•
New York
14,577,240 66
13,938,005 58
$7,091,205,98
$1, u i , 915 77
Bois6
\
Charlotte
1
SILVER,
*
Standard.
Fine.
1885.
Philadelphia
$21,453 23
2,436, 397 38
San Francisco
Carson
1886.
•
1885.
/' [
1886.
I
$17,471 58
. 1, 345, 970 72
81,774 56
New Orleans
Denver
New York ..
6, 648, 328 57
Bois6...'
Helena
Charlotte
Saint Lo¥iis
.............
5,205,192 73
$41,376 00 .
$21,483 34 j
DIRECTOR
275
OF T H E MINT.
THE M I N T S AND A S S A Y O F F I C E S &C.—Continued.
BARS MANUFACTURED.
GOLD—continued.
1886.
1885.
Sterling.
Unparted.
Standiard.
1885:
1886.
1885.
1886.
°
V
• $326,154 98
\ ...
$4,296 06
•
. 1
1,154,702 23
1, 547, 876 07
-
$1,693,'5G0 58
X-X /-1 ....
$4, 867, 626 86
7, 302,21
107 59
203,112 05
120, 812 58
1, 031,160 77
1, 074, 310 05
186, 599 59
206, 032 82
93, 697 51
122, 052 76
$740, 556 13
'
• ' - . -
SILVER—continued.
l O t a i gOlCl itjju sxivtJr.
. Unparted.
Mint.
1885.
1886.
1885.
1886.,
Sterling.
1885.
1886.
$21,305 44
1885.
$9, 353 48
••
119, 033 42
$810 55
$444, 684 43
$555,842 70
2, 436, 398 38
1,345,970 72
426, 962 96
5,106 61
•^
23,182 04
17,200 49
1, 571, 058 11
1, 649 05
205, 872 55
76, 062 50 113,228 07
1, 277 24.
1,207 54
7, 710 33
7, 938 93
^
1 171 902 72
4, 511 58 35, 095, 293 02 22, 541,c978 43
$39,412.99 $970, 208 51 129, 239 17 519, 997 20
2, 760 50
1886.
1,107, 223 27
' '
122, 461 63
1,187,538 12
187, 876 83
207, 240 36
101,407 84
4.29,991 69
o
276
REPORT ON T H E FINANCES.
X X V I I I . — C O M P A R I S O N O F T H E BUSINESS O F T H E M I N T S AND ASSAY
O F F I C E S , &C.—Continuecl.
BULLION OPERATIONS AND WASTAGES.
GOLD OPERATED UPON BY
MELTER AKD REFINER.
1885..
SILVER O P E R A T E D UPON BY
MELTER AND R E F I N E R .
1886.
1885.
1886.
Standard ozs. Standard ozs. Standard ozs. Standard ozs.
Philadelphia...
646, 626
1,396,820
28, 936, 069
39, 693,151
San Francisco .
2, 082, 611
2, 812, 334
6, 605, 722
1,618,059
Carson
142,°208
New Orleansi.,
11, 609, 352
1, 919, 424
25,428
GOLD O P E R A T E D UPON BY
COINER.
1885.
18, 683, 325
SILVER O P E R A T E D UPON BY
COINER.
1885.
1886.
16,370, 688
1886.
Standard ozs. Standardozs. Standard ozs. Standard ozs.
Philadelphia
San Francisco
Carson
451,124
1,118, 730
28, 092, 546
39,005,873
2, 083,492
2, 848,812
4, 703,610
65,709
1, 536,760
117,440
New Orleans
17,425,292
^
GOLD W A S T A G E O F MELTER
AND R E F I N E R .
. 1885.
SILVER W A S T A G E O F MELTER
AND E E F I N E R .
1886.
1885.
1886.
14,448,853
Standard ozs. Standard ozs. Standard ozs. Standard ozs.
Philadelphia....:
• 7
421
1,561
9
1
6,050
San Francisco
Carson
..
62
New Orleans
5, 647
'GOLD WASTAGE O F COINER. SILVER W A S T A G E O F C O I N E B .
"
1886.
1885.
1886.'
1885.
standard ozs. Standard ozs. Standard ozs. Standard ozs.
Philadelphia
San Francisco
Carson
New Orleans
940
70
9
24
3,089
3,413
192
290
2,767
1,826
277
DIRECTOR OF T H E MINT.
X X I X . — S T A T E M E N T SHOWING T H E SPACE R E Q U I R E D F O R T H E STORAGE OF U N I T E D STATES GOLD AND SILVER COINS.
Description.
Gold coin
Amount.
$1,000, 000
•
How put up.
Space required.
$5,000 in 8-oz. duck bags . . . . Nearly 17 cubic feet.
Silver dollars..
1,000, 000 $1,000 in 8-QZ. duck bags
Subsidiary silver
1,000,000
250 cubic feet.
$1,000 in 8-oz. duck.bags . . . . 150 cubic feet.
MEMORANDUM.
The space occupied by a bag of standard silver dollars, piled snugly in mass, is 12 inches .
long, 9 wide, and 4 deep. Small silver (subsidiary) packs better than dollars. The weight
of a thousand dollars in subsidiary silver being 56 ounces less than that of an equal value
in standard silver dollars, the space occupied by each vary but little from each other.
278
REPORT ON T H E FINANCES.
X X X . — S T A T E M E N T OF COINAGE FROM T H E ORGANIZATION O F T H E M I N T TO T H E
CLOSE OF THE FISCAL Y E A R ENDED JUNE 30, 1886.
GOLD COINAGE.
Period.N
Double
eagles.
Half
eagles.
Eagles.
Three
dollars.
Quarter
eagles.
Dollars.
Total.
$25,662,270 ^$45, 264, 995
1793 to 1848.
$5,413, 815 00
$76,341,080 00
1849 to 1873. $646, 727, 980 29,851,820 22,994,390 $1,169,913 20, 804, 702 50$19,015, 633 740, 564,438 50
383,480
809,780
125,460
516,150 00
48,283, 900
323,920
1874
50, 442, 690 00
32,748,140
599,840
203,655
60
2, 250 00
20
1875
33, 553, 965 00
153,610
135
37, 896, 720
71,800
3,645
53,052 50
1876
38,178, 962 ?'^^
4,464
56, 200
67,835
5, 780 00
2,220
43, 941, 700
1877
44, 078, If^^ 00
52,'798,-980 00
155, 490
137,850
51,406, 340
688,680
408, 900 00
1,720
1878
40, 9^^'912 00
1,442,130
109,182 1,166, 800 00
37,234,340
1, 031,440
3,020
1879
9,090
56,1-^^' '^35 00
21, 515, 360 18, 836, 320 15, 790,860
3,075 00
3,030
1880...
7g^ .^33, 864 00
4,698
9,140 00
15, 345, 520 33,389, 050 29,982,180
3,276
1881
,62 50
6, 025 gg^ }vl3,447 50
1 8 8 2 . . . . . . . . • 14, 563, 920 44, 369,410 30,473, 955
75
4,665
10,137 50
27, 526,120
6, 611, 790 1, 775, 360
8,855 35^^36,927 50
1883:
27^(932,824 00
2, 033, 040 2,116, 020
2,955
23,765,900
4, 930 00
9,979
1884
5,670
6,982 50
20, 048, 500 2, 246, 890 2, 545, 900
7,181
1885
24/361,123 ^>0'
303
4, 871, 680 10, 428,-470 18,758,145
10, 215 00
8,567 3 4 , ^ 7 1 : ^ 0 0
1886
T o t a l . . 1,025, 876,120 175,809,120 172, 985, 685 1, 574, 520 28, 415, 992 50 19, 397, 0911,424,058,528 50
S I L V E R COLNAGE.
Period.
Trade dollars.
1793 to 1852
18.53 to 1873
1874
1875
1876
1877
1878
1879
1880
.
1881
1882
1883
1884
1885
1886
Total
Dollars.
.
--
$3, 588,900
5, 697, 500
6,132, 050
9,162, 900
11, 378, 010
*642
*2,473
*1,083
*1,102
*1, 000
*264
35,965, 924
$2, 506, 890
5, 538, 948
8, 573, 500
27, 227, 500
27, 933, 750
27, 637, 955
27, 772, 075
28, 111, 119
28, 099, 930
28,528,552
29,838,905
241,769,124
Half dollars.
Quarter dollars. Twenty cents.
$66,249,153 00
33, 596, 082 50
1, 438, 930 00
2,853,500 00
4, 985, 525 00
9, 746, 350 00
3, 875, 255 00
225 00
3, 275 00
4,677 50
5, 537 50
2, 759 50
4,465 00
2, 557 50
3,0.52 50
$3, 994, 040 50
18, 002,178 00
468, 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
4,079 75
3, 832 50
2,178 75
3, 626 25
122,'771,345 00
38,496,723 75
* Issued as " proof pieces.'
$5,858
263,560
1,440
142
271,000.
279
DIRECTOE O F T H E MINT.
X X X . - ^ S T A T E M E N T O P COINAGE FROM T H E ORGANIZATION O F T H E M I N T S TO T H E
CLOSE O F T H E F I S C A L YEAR E N D E D J U N E 30,1886—Continued.
SILVER COINAGE—continued.
Period.
Half dimes.
Dimes.
t793tol852
1853 to 1873
1874
1875
.
.'..
1876
• 1877
18.78 ,
1879\ ^
1880..\
1881.-.(
1882...]
1883...;
•1884...
lgp5....
"^
1886- - -
$3, 890, 062 50 $1, 823, 298.90
5,170, 733 00
3,083, 648 00
497, 255 80
889, 560 00
3, 639,105 00
2, 055, 070 00
760,891 00
•
$744, 927 00
536, 923 20
45 00
1, 575 00
3, 695 50
2, 507 '50
717,511 90
665,160 30
315, 671 40
176, 764 20
18,785, 608 10
Total
T h r e e cents.
•
"
4, 906, 946 90
Total.
$79, 208, 371 90
65, 928, 512 70
5, 983, 601 30
10,070,368 00
19,126, 502 5.0
28, 549, 935 00
28, 290,825 50
27, 228, 524 50
27, 944, 910 50
27, 651, 049 75
27,784, 490 75
28, 836,
28, 773,
28, 848,
30, 022,
470
651
959
347
15
80
65
95
1, 281,850 20 464, 248, 521 95
MINOR COIN.
Period.
tFive cents. t T h r e e cents. ^Two-cents.
1793 to 1873
1874
1875
1876
1877
'• .
1878
1879 '
1880
$5, 276,140 00
244, 350 00
94,650 00
/
,132,700 00
25, 250 00
80 00
..:.
1,175 00
1, 247 50
1881
1882 .. .
1883
1884
1885
1886
. ..
Total
$805, 350 00
29, 640 00
12, 540 00
7, 560 00
177 75
220, 038 75
1, 022, 774 40
768, 745 25
351, 691 00
275 95
48 Op
984 00
982 50
32,416 65
104 25
858 57
244 86
144 60
135 57
8,139,295 60
891, 009 00
fFirst coinage in 1866.
Cents.
Half cents.
Total.
$912, 020 00 $4, 886,452
137, 935
123,185
120,090
36, 915
30, 566
95, 639
267,741
"
44 $39,926 11 $11, 919, 888 55
00
411 9^5 00
00
230, 375 00
00
260 350 00
00
62,165 00
00
30 694 00
00
97, 798 00
50
^ . 269,971 50
372,515 55
405, 109 95
424,614 75
644, 757 75
404, 674 19
1, 428, 307 16
405, 719 62
1,174, 709 73
175, 721 20
527 556 80
16, 966 13
17 377 65
912,020 00 7,498,735 38
39,926 11 17, 480, 986 09
JFirst coinage in 1865.
§ First coinage in 1864.
280
EEPOET ON THE FINANCES.
X X X I . — " " S T A T E M E N T O F COINAGE O F T H E M I N T S OF T H E U N I T E D
[Coinage of the Mint at PhiladelpMa from
,
GOLD-COINAGE.
Period.
Double
eagles.
0
1793-1795
1796
1797
1798
1799
^
. . . .
-
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
1811
1812
1813
1814
1815
1816
1817.
•
---.
Eagles.
$27,950
69, 340
83, 230
79, 740
174, 8S0
259. 650
292, 540
150, 900
• 89,790
97, 950
„
1818..
1819
1820.
1821...
1822
1823
1824
1825....
1826
1827
1828
1829
1830
1831
1832
1833
1834
Halfeagles.
^43, 535
30, 980
18, 04,5
124, 335
37, 255
58,110
130, 030
265, 880
167, 530
152, 375
165, ^15
320, 4G5
420, 465
277, 890
169, 375
501,435
497, 905
290, 435
477,140
77, 270
3,17 5
242, 940
258, 615
1, 319, 030
173,205
88, 980
72, 425
.*.
1835
1836
1837
1838
1839
1840
1841
.^.
72,000
382,480
473,380
631,310
Three
dollars.
°
Quarter
eagles.
$2,407
2,147
i, 535
1,200
Dollars.
50
50
00
00
6, 530 00
1,057 50
8, 317 50
4, 452 50
' 4, 040 00
17,030 00
G, 775 00
'
/
. x/
16,120 00
6, 500 00
'11, 085 00
1, 900 00
124, 565
140,145
287, 210
631, 755
. 702,970
7, 000 00
590, 715
686, 910
79,165
t-;-
,'.
86, 700
145, 300
' 90,345
787, 435 •
968,150
3, 660. 845
1, 857, 670
2, 765, 735
1, 035, 605
1,432, 940
>
I
-
8, 507 50
11,350 00
11, 300 00
11, 000 00
10,400 00
293,425 00
328, 505 00
1, 369, 965 00
112, 700 00
•117,575 00
67, 552 50
47,147 50
* Calendar years to and including
281
DIEECTOE OF THE MINT.
STATES B Y D E N O M I N A T I O N O F P I E C E S FROM T H E I R ORGANIZATION.
i t s o r g a n i z a t i o n , 1798, t o J u n e 30,1886.]
SILVER COINAGE.
Trade
dollars.
Dollars.
H a l f dollars.
' $204,791
72,920
7,776
327, 536
423, 515
220, 920
54,454
41,650
66, 064
$161,572 00
1,959 00
19, 570
321
''.
/
'•
'
0
1856.
$1,473 50^
63 oo'
15,144
14,945
,15,857
78,259
50
00
50
50
105,861
419,788
525,788
. 684, 300
702,905
638,138
601,822
814,029
620,951
519, 537
00
00
00
00
00
00
00
50
50
50
23, 575
607, 783
980,161
1,104, 000
375, 561
652, 898
779, 786
847,100
1,000
Q u a r t e r dollars.
00
50
00
00
00
50
50
00
1,752, 477 00
1, 471, 583 00
2, 002, 090 00
2, 746, 700 00
1, 537, 600 00
1, 856, 078 00
2,382,400 00
2,930,830.00
2, 398, 500 00
2, 603, 000 00
3,206,002 00
2, 676, 003 00
3,273, 100 00
1,814,910 00
1, 773, 000 00
1, 667, 280 50
300
717, 504 00
61, 005
155, 000 00
173, 000
F i s cal y e a r s sine e.
1,684
30,348
51,531
55,160
50
50
00
75
Twenty
cents.
Dimes. '
$2,213 50
2,526 10
2,755 00
2,176
3,464
1,097
3,304
826
12,078
00
00
50
00
50
00
Half dimes.
Three
cents.
$4,320 80
511 50
2,226 35
1,200
1,695
650
1,892
00
50
50
60
780 00
16,500 00
4,471 00
635 50
6,518 00
'
42,150 00
17,308 00
5, 000 75
90,293
36,000
31, 861
54,212
16, 020
4, 450
50
00
00
75
00
00
94,258 .70
118,651 20
10,000 00
44,000 00
42, 000 00
51, 000 00
1, 000 00
25, 500 00
99,500 00
80, 000 00
39,000 GO
71,500 00
488, 000 00
118, 000
63,100
208,000
122,786
47, 031
30, 000
00
00
00
50
75
00 j
121, 500
12, 500
77, 000
51. 000
77,135
52, 250
48, 500
63,500
00
00
00
00
00
00
00
00
61, 500
62, 000
62,135
48, 250
68, 500
74, 000
141, 000
119, 000
104,200
199, 250
105, 331
135, 858
162,250
00
00
00
00
50
00
00
138, 000
95, 000
113, 800
112,750
53, 457
67, 204
57, 500
00
00
00
00
00
00
00
00
00
00
50
25
00 '
282
REPORT OF THE SECRETARY OF THE TREASURY.
Beport of remissions offorfeiture of articles imported by mail, ^o.—Continued.
Ko.
Date.
109
110
111
112
113
114
115
116
117
119
120
121
122
123
124
125
126
127
128
129
130
131
182
133
134
135
186
187
138
139
140
141
142
143
144
145
146
147
148
149
150
151
162
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
o568
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
183
189
1885.
Oct. 12
Oct. 13
Oct. 13
Oct. 15
Oct. 15
Oct. 15
Oct. 16
Oet. 16
Oct. 16
Oct. 16
Oct. 17
Oct. 19
Oct. 19
Oct 19
Oct. 20
Oct. 20
O c t 21
O c t 21
Oct 21
O c t 23
O c t 23
Oct 24
O c t 24
Oct 26
Oct 26
Oct 26
Oct
Oct
Oct
Oct.
Oct
Oct
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov.
Nov. 10
Nov. 10
Nov. 11
Nov. 11
Nov. 12
Nov. 13
Nov. 13
Nov. 14
Nov. 14
Nov. 16
Nov. 17
Nov. 17
Nov. 17
Nov. 17
Nov. 18
Nov. 18
Nov. 18
Nov. 18
Nov. 18
Nov. 19
Nov. 20
Nov. 20
Nov. 21
Nov. 21
Nov. 21
Nov. 23
Nov. 23
Nov. 33
Nov. 24
Nov. 24
Nov. 25
Nov. 25
Nov. 25
Nov. 27
Nov. 27
Nov. 30
Dec. 2
Dec. 2
Dec. 2
Pore.
Chicago . .
New York
Philadelphia
do . . .
New York
Chicago
.
,
.
Boston
.....
Milwaukee
New York
,
Boston
New York
,..,
Boston.
Saint Louis
Chicago
New, Y o r k . . .
...
Boston...
NewYork
Baltimore
Boston...
Chicago
Boston...
Philadelphia
SaintLouis
Boston
Chicago
New Y o r k . . . . . . . . .
do...
Milawaukee
Saint Lonis
New York
......do...
Boston
Philadelphia.
NewYork
......do
.....do
Boston
NewYork
Philadelphia
Chicago
Philaclelphia.. -. ^..
do
Chicago
Boston
NewYork..
do...
Bostou
do
Philadelphia
Chicago
NewYork.........
San Francisco
Philadelphia
......do..
do.....
.do
.....
New Y o r k . . . . . . . . .
do
......do
Georgetown, D. C .
Baltimore
NewYork
......do
do
do
Boston
Philadelphia
.. New Y o r k . . .
Chicago
New York
......do
Philadelphia.......
New Y o r k . . .
do
do
do
Boston
SaintLouis
Article.
Value.
Bog-oak ornaments
Bronze medals
Pictures
Microscopic slides
-^ —
Engraving tools.
...->...
Diamonds
Clothing.
Gold w a t c h . . .
Ph otographs...:
2 glass eyes
Package pictures
Photographs
Printed music . . ^
6 scarfs
1 diamond
Jewelry
2 handkerchiefs
'..--.
Photographs
Precious scones
1 wig......
-.-,
(2 seiz.) Silk handkerchiefs and scarfe
Philosophical instruments...
Photographs
Fan, paper-cutter, and tassels
J ewelry
....;..
(2 seiz.) Printed music and photographs
Gloves, &c
Sheet music
12 packages of pictures
18ifyards silk cr6pe
Pearls
.>.
1
Engra-vings
Printed matter
Photographs
Gloves and scarfs
Printed music
.....do
Precious stones
Sheet music...
Pictures and lithographs
(2) Embroidery materials, $2.85; tidies, $13
Silver bracelets
Toilet mats
Child's cap ...I
J
Precious stones
Photographs
'.
6 packages engravings
3 packages printed music
5 pack ages tarrettes
Photographs.-..
Dutiable articles
.i
Package ornaments
Jewelry samples
Infant attire
,.
2dozendoyIies.i....
Jewelry
4 microscopic slides
^
Silver spoons
u....
Chromos
Printed matter..
^.....
Diamonds —
.....do
Gold ring and locket
Photograph albnm
3 small parcels of musio
2 packages priuted musio
Engravings
Photographs
Box of cigars
Sample cards
Gold watch, chain, and k e y
Etchings and jewelry
•
Easter cards
Gold scarf-pin . . .
Photographs
Holiday cards
.'.........;
Diamonds
...-.'...*.
7 packages, contents unknown
Photographs.
......;
1 precious stone..
Not reported.
Do.
Do.
$3 00
7 50
Not reported.
1 00
8 00
12 00
1 36
Not reported.
12 00
K"ot reported.
Bo.
790 00
6 00
Not reported.
14 00
Not reported.
5 00
57 00
3 00
87 00
8 50
8 50
20 00
6 00
Not reported.
Do.
Do.
70 00
Not reported.
Do.
24 00
4 95
Not reported.
Do.
Do.
4 00
Not reported.
15 85
Not reported.
6 00
1 50
8 00
12 00
Not reported.
Do.
15 00
40 00
22 50
Not reported.
Do.
Do.
15 00
750
°
8 00
2 50
Not reported.
Do.
Do.
Do.
3 00
Not reported.
Do.
Do.
Do.
12 00
8 00
Not reported.
22 00
Not reported.
Do.
5 00
Not reported.
Do.
Do.
Do.
10 00
30 00
283
BIRECTOR OF THE MINT.
BY DENOMINATION OF P I E C E S FROM T H E I R ORGANIZATION—Continued.
its organization, 1793, to June 30, 1886.]
SILVER C O I N A G E .
Trade
dollars.
Dollars.
\ Half dollars,
$184, 618 00 |$1. 006 382 00
165,100 00 1, 922, 000 00
883, 000 00
20, 000 00
294, 500 00
24, 500 00
110,600 00 1,105, 000 00
578, 000 00
140, 750 00
290, 000 00
15, 000 00
626, 000 00
62, 600 00
113, 500 00
7, 500 00
100, 375 00
1,300 00
38, 565 00
i, 100 00
46,110 00 1, 766, 354 00
33,140 00 1, 491, 000 00
379, 750 00
26, 000 00
469, 000 00
63, 500 00
71, 000 00
94, OCO 00
2,014,000 00
73, 500 00 1,318,000 00
315, 530 00
174, 900 00
164, 900 00
370, 650 00
1,750 00 1,195, 675 00
212, 630 00
31, 400 00
159, 985 00
23, 170 00
246, 600 00
32, 900 00
334, 525 00
58, 550 00
289, 450 00
57, 000 00
205, 750 00
54, 800 00
193, 675 00
231, 350 00
445, 975 00
576, 150 00
470, 562 50
657, 625 00
519, 817 50
1,109,435 00
969, 025 00
964, 150 00
$1,058,200
476,800
280,050
899,900
2,386,010 4, 907,500 op
1642 12,124, 500 00
12,473 15,185, 750 00
t l , 083 9,113, 955 00
t l , 102 11, 051,075 00
tl.OOO 11, 601,119 00
t264 13,230, 930 00
14,717, 552 00
20,463, 905 00
1,142,150 00
2, 207, 500 00
2, 456, 525 00
5, 649, 350 00
2, 299,255 00
225 00
3, 275 00
4,677 50
5, 537 50
2, 759 50
4,465 00
2,557 50
3,052 50
Quarter
dollars.
Twenty
cents
$22, 000 00
161,400 00
105, 300 00
230, 500 00
127, 500 00
183,500 00
36, 500 00
85, 000 00
47, 700 00
40, 000 00
44, 265 00
3, 813, 555 00
3, 095, 000 00
714, 250 00
1, 816, 000 00
576, 000 00
2, 650, 000 00
1, 249, 000 00
227,450 00
758, 550 00
700, 937 50
103, 215 00
17,492 50
22,150 00
4,962 50
5,175 00
7,475 00
4,137 50
21, 812 50
20, 524 25
Dimes.
$188, 750
137, 000
7,250
175, 500
3,130
24, 500
I 45,150
83, 900
193,150
102, 650
153, 550
1, 217, 301
447,000
207, 500
578, 000
489, 000
37, 058
154,212
327, 275
500,950
69, 000
176, 000
57, 600
157,300
136,455
4, 946
37
2,160
65
670
42,315
4, 905
72,185
. 1,067
183,953
75
398, 685
50
435, 510
00
458, 060
00 $2, 200
2, 415, 262 50 7,560 1,441,105
727, 070
4,167,175 00 1,440
453} 891
1, 763, 027 50
142
45
112 50
1,575
3, 837 50
3,695
3, 638 75
2, 507
3,268 75
717, 511
4, 079 75
615,160
3,832 50
306, 871
2,178 75
174,698
3, 626 25
Half diraes.
Three
cents.
$40, 750 00
58, 250 00
21, 500 00
78, 200 00
1, 350 00
63, 700 00
33, 400 00
65, 450 00
47,750 00
39, 050 00 $163,422 00
50, 025 00 559, 905 00
667, 251 00 342, 000 00
287, 000 00
20,130 00
87, 500 00
4,170 00
244,000 00
43,740 00
197, 000 00
22, 080 00
200, 000 00
37, 980 00
142, 000 00
41,400 00
43, 500 00
16, 440 00
139,350 00
7,950 00
18,256 50
117, 627 50
2, 803 80
3, 223 00
11 10
18 50
618 00
3, 080 00
679 50
532 50
141 00
435 00
120 00
4, 290 00
151 50
527 50
115 50
36,722 50
129 75
6, 346 25
61 05
129, 001 75
25 50
141,142 50
6,107,524 119,419,136 00 82,298,756 50 28, 111, 713 25 11,342 12, 587,255 40 3,977,346 90 1,260,250 20
tissued as "proof pieces."
284
REPORT
ON T H E
FINANCES.
X X X I . — S T A T E M E N T ^ OF COINAGE O F T H E MINTS O F T H E U N I T E D STATES
[Coinage of the mint at Philadelphia from
0
MINOE .COINAGE.
Periods.
Five cents.
Three cents.
T w o cents.
1793 to 1795 ..*
1796
:
1797
1798
1799
ISOO
1801
1802
1803
1804
1805
1806
1807
-s..
-
-
/
f
1808
1809--.
1810
1811
1812
1813
' ••
1814
1815
1816
1817
1818
1819
1820
.'
1821
182^
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832
1833
1834
1835
1836
1837
;
1838..
1839
,
1840
1841
1842
T«^.
•
-•
'.
....<'
1
.«•
.. .... ..
•
*
.^ .
'.
i.
V
'
285
DIRECTOR O F T H E MINT.
BY D E N O M I N A T I O N O F . P I E C E S FROM T H E I R ORGANIZATION—-Continued.
i t s organization, 1793 to J u n e 30, 1886.]
-
MINOR-COINAGE.
TOTAL COINAGE.
Half cents.
Cents.
$10,660 33
9,747 00
8,975 10
9,797 00
9,045,85
28,221 75
$712 67
577 40
535 24
1, 057 65
13,628 37
34,351
24,713
" ^
7,568
^--,9,411
^^^^^3,480
00
53
38
16
00
V, 272 21
11,090 00.
2,228 67
14,585 00
2,180 25
10,755 00
4,180 00
71 83
489 50
5,276 56
4,072 32
1,780 00
2,'380 00
2,000 00
5,772 86
1,075 00
315 70
$71,485
102,727
103,422
205,610
213,285
317,760
00
50
50
00
00
00
422, 570 00
423, 310 00
258,377 50
258,642 50
170.367 50
324,505 00
437,495 00
284,665 00
169,375 00
501,435 00
497,905 00
290,435*00
477,140 00
77,270 00
3,175 00
3,578 30
28,209 82
39,484 00
31,670 00
26,710 00
44,075 50
3,890 00
20,7^3 39
12,620 00
14,611 00
15,174 25
23,577 32
22,606 24
14,145 00
17,115 00
33,592 60
23,620,00
27,390 00
18,551 00
38,784 00
21,110 00
55,583 00
63,702 00
81,286 61
24,627 00
15, 973 67
23,833 90
Silver.
Gold.
242,940 00
2.58,615 00
1,319, 030 00
189,325 00
88,980 00
72,425 00
93,200 00
31500
1,170 00
3,030 00
2,435 00
11 00
770 00
600 00
705 00
1, ,990 00
156,385 00
92,245 00
131,565 00
140,145 00
295,717 50
643,105 00
714,270 00
798,435 00
978, 550 00
3,954, 270 00
2,186,175 00
4,135,700 60
1,148,305 00
1, 622,515 00
1,040,747
1,207,437
710,475
960,017
60
50
Op
50
Minori
$370,683 80
79,077 50
12;591 45.
330,291 00
423, 515 00
224,296- 00
74,758
58,343
87,118
100,340
149,388
471,319
597,448
684,300
, 707,376
638,773
608,340
814,029
620,951
00
00
00
50
50
00
75
00
00
50
00
50
50
561,687 50
. 17,308^00
28,575 75
607,783 50
1,070,454 50
1,140,000 00
501, 680 70
825,762 45
805,806 50
895,550 00
1,°752,477 00
1, 564, 583 00
2, 002, 090 00
2, 869, 200 00
1, 575, 600 00
1, 994, 578 00
2,495,400 00
3,175, 600 00
2, 579, 000 00
2, 759, 000 00
3,415, 002 00
3,443, 003 00
3, 606,100 00
2,096, 010 00
2, 293,000 00
1, 949,136 00
1,028,603 00
577,750 00
1,442,500 00
Total.
$11,373 00
$453, 541 80
10,324 40
9, 510 34
9, 797 00
* 9,106 68
^ 29,279 40
192,129 40
125,524 29
545, 698 00
645,906 68
571,335 40
13,628
34,422
25,203
12,844
13,483
37
83
03
94
48
510, 956 37:
516, 075 83
.370,698 53
371, 827^94
333, 239 48
5,260 00
9,652 21
801,084 00
1, 044,595 96
13,090 00
8,001 53
15,660 00
2,495 9,5
10,755 00
4,180 00
3,578 30
28,209 82
39,484 00
31,670 00
26,710 00
44, 075 50
3,890 00
20,723 39
12,620 00
14, 926 00
16, 344 25
23, 577 32
25,636 24
16, 580 00
17,115 00
33, 603 60
23, 620 00
28,160 00
19,151 00
39,489 00
23,100 00
55,583 00
63,702 00
31,286 61
24,627 00
15,973 67
23,838 90
982,055
884,752
1,155,868
1,108,740
1,115,219
00
53
50
95
50
1,102,271
642,535
20,483
56,785
647,267
1,345,064
50
80
00
57
50
50
1,425,325 00
1,864, 786 20 ;
1,018,977 45
915,509 89
967, 975 00
1,858,297 Oo
1,735,894^00
2,110,679 25
3,024,342 32
1, 741,381 24
2,306,875 50
3,155, 620 Oo
3,923,473 6o
3,401,055 00
3,765,710*'00
7,388,423 Oo
5, 668, 667 OO
7, 764,900 Oo
3,299,898 Oo
3,979,217 00
3,021,170 11
2,260,667 50
1,304,198 67
2,426,351 40
28G
REPORT ON THE FINANCES.
X X X f i . — S T A T E M E N T °()F T H E COINAGE O F THE M I N T S O F - T H E UNTIED STATES
!
' '
[Coinage of t h e m i n t a t
Plsiladelphia from
MINOR COINAGE.
'
1
Periods.
Five cents.
1843
1844
1845...
• •<•
-.-
Three cents.
[j
I
T w o cents 1
'---"
1846.'.
-
..'....^..-.
1847
1848
1849
1850 . . ; -.."
1851 . .
.
1852
1
.
1858
1859
....
"
•,
i...^
r
.
1860
] 861
i.,
1862 . . . . . . .
1863
1864
' ,1865
..:
:...
^
.'...
..
1
1866..:.-.,
1867._
1868
1869
,
1870
1871
1872
1873...
1874
1875
-
.--
:
•.
.
.'
1876
1877
:.'.
1879
1880
1881
>
1883
1884
1885
' J^
' .............^
1k_j
...
1853
1854....
1855 . . .
1850
1857*
.
. . .
....:
Total
8,139,295 60
\
.
$66,240 00
1, 562,500 00
1,445,100 00
1,101,250 00
487, 500 00
171, 950 00
89,20000.
352, 400 00
244, 350 00
94, 650 00
132, 700 00
25, 250 00
80 00
1,175 00
1,247 50
177 75
220, 038 75
1, 022, 774 40
768, 745 25
351, 691 00
275 95
•
.
*Firsl six months.
$105, 930 00
270, 270 00
133,410 00
' « 108, 390 00
64, 380 00
42, 690- 00
27, 630 00
18, 330 00
34,320 00
29, 640 00
12, 540 00
7, 560 00
$36,450 00
535, 600 00 t
122, 980 00 1
69,880 00
61, 330 00
34, 615 00
22, 890 00 1
22,105 00
6,170 00 1
' 1
48
984
982
32,416
i04
858
244
144
135
00
00
50
65
25
57
86
60
57
891, 009 00
...|
1
912, 020 00 1
DIEECTOR
•'287
OF T H E MINT.
BY DENOMINATION O F P I E C E S FROM T H E I R ORGANIZATIOJSP—Continued.
i t s o r g a n i z a t i o n , 1793, t o J u n e 30,' 1886.]
MINOR
COINAGE.
Cents.
Half cents.
$24, ,283 20
23, 987 52
38, 948 04
41,,208 00
61, 836 69
64,,157 99
41, 785 00
44, 268 44
98, 897 07
60, 630 94
66, 411 31
42, 361 56
15, 748 29
26, 904 63
63,,334 56
234, ,000 00
307, ,000 00
342, 000 00
101, ,660 00
116, 000 00
478, 450 00
427, 350 00
541, 800 00
187, 080 00
113, 750 00
-98,
78,
68,
62,
565
810
365
075
9, 320
107, 330
137, 935
123, 185
120, 090
36, 915
30,
95,
267,
372,
421,
404,
405,
175,
16,
TOTAL-COINAGE.
Gold.
$4, 062, 010 00
1,782,420 00
2, 574, 652 50
2, 234, 655 00
13, 296, 080 00
2, 780, 930 C0«
7,948, 332 00
27, 756, 445 50
52,143,446 00
51,505,638 50
36, 355, 621 00
20, 049, 799 00
10, 594,454 00
10, 993, 976 00
$199 32
199 06
738 36
648 47
276 79
282 50
202 15
175 90
00
00
00
00
00
00
00
00
OO
00
3, 209, 692 00
10, 200, 788 50
2, 611, 360 00
4,184, 301 50
47, 896, 711 00
29, 987, 386 50
3,184, 892 00
2, 580, 945 00
6, 430, 377 50
10,096,645 00.
9, 992,187 50
3, 864, 425 00
3,178, 637 50
2, 830, 752 50
3,206,760 00
2, 053,145 00
17, 664, 937 50
26,467, 330 00
• 5,162,870^00
8, 260, 937 50
9, 803, 5G4 00
10, 892, SOO OC
11, 329, 352 00
27, 639,445 00
49, 809, 274 00
59, 678, 437 50
566 00
639 00
741 50
515 55
614 75
674 19
719 62
721 20
966 13
7,498,736 38
7, 729, 982 50
2,777,154 00
2, 952, 503 50
6, 997, 380 00
39, 926 11 I
665, 551, 026 00
Silver.
$2, 443, 750 00
1, 037, 050 00.
803, 200 00
1, 347, 580 00
990,450 00
. 420, 050 00
922, 950 00
409, 600 00
446, 797 00
847, 410 00
7, 852, 571 00
5, 373. 270 00
1,419,170 00
3,214,240 00
1, 427, 000 00
4,970, 980 00
2, 999, 900 00
835,420.00
1,598,700 00
2,170, 701 50
358,217 80
200, 714 10
307, 508 00
399, 314 50
352, 871 00
314, 750 00
434, 746 50
1,152, 960 50
1, 156,255-25
1, 979, 327 55
2, 627, 240 50
2, 963,135 00
3, 645, 510 00
6, 600, 502. 50
11, 444, 935 00
11,809,825 50
12,125, 524 50
15,196, 910 50
9,127, 049 75
11,063,490 75
12, 326, 470 15
13, 854, 651 80
15. 029,159 95
20, 645, 281 75
252, 773, 324 25
Minor.
$24, 283 20
23, 987 52
38, 948 04
41, 208 00
61, 836 69
64,157 99
41, 984 32
44, 467 50
99, 635 43
50, 630 94
67, 059 78
42, 638 35
16, 030 79
27,106 78
63, 510 46
234, 000 00
307, 000 00
342, 000 00
101,660 00
116, 000 00
478, 450 00
463, 800 00
1,183, 330 00
646, 570 00
1, 879, 540 00
1, 713, 385 00
1, 279, 055 00
Total.
$6, 530, 043 20
2, 843, 457 52
3,416, 800 54
3, 623,443 00
14, 348. 366 69
3, 265,137 99
8, 913, 266 32
28,210,513 0 0 .
52, 689, 878 43
52,403, 679 44
44, 275, 251 78
25,465, 707 35
12, 029, 654 79
14, 235, 322 78
4, 700, 202 46
15, 405, 768 50
5, 918, 260 00
5,361,721 50
49, 597, 071 00
32, 274, 088 00
4, 021, 559 80
3,245,459 10
7, 927, 215 50
11,142, 529 50
12, 224, 598 50
5, 892, 560 00
4, 892, 439 00
4, 595,158 00
4, 646, 775 25
4,155, 492 55
611,445 00
283, 760 00
123, 020 00
494, 050 00
411,925 00
230, 375 00
260,350 00
02,165 00
30,694 00
97, 798 00
269,971 50
405,109 95
644, 757 75
1,428,-307 16
20, 786, 228 00
29, 842, 390 .00
9, 038, 755 00
15,121,790 00
21, 310, 664 00
22, 733, 319 50
23, 552, 674 50
' 43,106, 3-J7 00
59,341,433 70
71, .386, 686 00
21, 484, 759 81
1,174, 709 73
527, 556 80
17, 377, 65
17, 806, 515 53
18, 509, 280 25
27,660, 039 40
17, 480, 986 09
935, 805, 336 34
288
REPORT
ON T H E FINANCES.
X X X I . — S T A T E M E N T OF COINAGE O F TPIE M I N T S O F T H E U N I T E D STATES
[Coinage of t h e m i n t a t N e w O r l e a n s from .its o r g a n i z a t i o n , 1838, t o
GOLD.
.Year.
Double
eagles.
Eagles.
Halfeagles. ^^^^^
Quarter
eagles.
DoUars.
1838
$23,490
1839
65, 500
$152, 000
1840
1841
1842
'..
$25, 000
41, 750
18,450
274, 000
82, 000
49, 500
920, 006
1, 751, 620
505, 375
1844
1,187, 000
1, 823, 000
1845
475, 000
205, 000
1846
817, 800
290, 000
165, 000
5,715,000
60, 000
310, 000
•1843.
1
1847
..
. .
358, 600
1848
239, 000
1849
1850
-
1851
1852.
1853
.'
575, 000
6, 300, 000
2, 630, 000
3,800,000
180,000
1,420, 000
510, 000
$215,000
205, 000
210,000
14,000
370, 000
290,000
350, 000
140,000
290, 000
1854
66, 000
525, 000
230, 000
1855
160, 000
180, 000
55, 500
1856
45, 000
145, 000
50, 000
52;750
1858
950, 000
215, 000
65, 000
85, 000
1859
490, 000
40, 000
1857*
(t
$2, 820,000
$72,000
382,500
55,000
:
I860
T o J a n u a r y 31, 1861
Total
87, 000
82, 000
192, 000
52, 000
16, 329, 000
15, 976, 920
46, 500
82, 000
1
3,764,625
72, 000
3, 002,195
1,004,000
18791
1880
!
:
1881
,
1882
1883
^
80,000
101, 700
•
43, 000
1884
1885
."
1886
"
Total
16,375,500
*First six months.
16, 283, 620
3,764,625'
72, 000
3, 002,195
t C o i n a g e r e c o m m e n c e d F e b r u a r y 20, 1879.
1, 004, 000
289
DIRECTOR OF THE MINT.
BY DENOMINATION OF PIECES FKOM THEIR ORGANIZATION—Continued.
its suspension, 1861, and from its reopening, 1879, to June 30, 1886.1
SILVEB.
Half
dollars.
DoUars.
Quarter
dollars.
Dimes.
Half
dimes.
Three
cents.
1
$40,243
$40,243
227,160
250,650
217,500
698,100
915,600
40,750
85,200
555, 000
640,200
17,600
405,600
890,250
1,295,750
3,177, 000
1,391, 000
4, 568, 000
3, 010,000
1,198, 500
4, 208, 500
680, 000
1, 070, 000
1,750, 000
1, 272, 800
1,211,000
2,483,800
6,085,000
1,384,000
7,469, 000
30,000
358, 500
1,620, 000
1,978,500
30, 000
7,000
454,000
1,192,000
1,646,000
3, 619. 000
1, 456, 500
6, 075,600
9, 795, 000
327,600
10,122, 600
$50,000
124,160
$53,000
427, 550 $106,300
117, 500
46,750
200,500
113, 000
200,750
478,600
192,250
202,000
1,134,000
242,000
16, 000
1, 002,600
185,000
1,047,000
$59, 000
11,000
23, 000
92,000
1,590,000
1,155,000
40,000
,
1,152, 000
1,292,000
Totalvalue.
$23,490
$40, 243
-
Total
silver.
Total gold.
1,228,000
103,000
51, 000
34,600
201,000
22,000
40, 000
43,000
$21, 600
72,000
24,000
43, 000
13,000
4,470,000
162, 000
4, 622, 000
664,000
333,000
110,000
118, 000
2, 220, 000
1, 225, 000
3, 445, 000
177, 000
78, 000
1, 274, 500
3, 246, 000
4. 520, 500
30,000
450, 500
1, 918,000
2,368,500
2,620,000
371,000
1,844,000
44,000
1,329,000
242,000
118,000
65,000
292,750
1, 744. 000
2,036,750
2,307,000
354,000
154, 000
127,000
1,315,000
2, 942, 000
4,257,000
200,000
2,456, 000
136,000
44,000
53,000
630, oop
2,889, 000
3,419,000
280,000
1,106,000
97,000
37, 000
63,000
169,000
1, 573,000
1,742, 000
395,000
414. 000
244,000
809,000
1, 053,000
40,148,740
29, 759, 353
69, 908, 093
737, 000
737,000
128,600
4,430,000
4,658,500
6,525, 000
80, 000
6,625, 000
6.606,000
4,958,000
101,700
4,958,000
5,059,700
8, 040, 000
43,000
8, 040, 000
8,083,000
974, 000 23,770, 050 2,656, 650 1,626,653
810, 500
21,600
737, 000
4,430 000
8, 905, 000
8,905,000
8,905,000
10,135,000
10,135,000
10,135, 000
9,300, 000
9, 300, 000
82,789, 353
123,291,293
9,300, 000
54,004, 000 23,770,060 2,656,550 1,626,653
H. Ex. 2-
-19
'
810,500
21,600 40, 501,940
290
R E P O R T ON T H E FINANCES.
X X X I . — S T A T E M E N T OF COINAGE O F T H E M I N T S O F U N I T E D STATES, &C.—Continued.
[Statementof coinage at the mint at Dahlonega, Ga., from its organization, 1838, toits suspension, 1861.]
Year.
Total value.
Half eagles.
Three dollars. Quarter eagles.
Dollars.
$i02,915
1838.
$102, 915 00
94,695
$34,186 00
128, 880 00
1840
114,480
8,830 00
123, 310 00
1841
152,475
10,410 00
162, 885 00
1842
298, 040
11, 607 50
309, 647 60
582, 782 60
492,260
90,522 60
1844
444,910
43,330 00
488, 240 00
1845
453,146
48,650 00
501, 795 00
1843.
'......
1846
401,470
48,257 50
1847.....
322,026
39,460 00,
1848
237,325
34,427 50
1849.._
195,180
27,362 60
$21,588
1850
219, 750
30,370 00
8,382
1851
313, 550
28,160 00
9,882
351. 592'00
1852
467, 260
10,195 00
6,360
473, 815 00
7, 945 00
6,583
462, 918 00
4,400 00
2,935
292, 760 00
1,811
116, 778 60
102, 675 00
1853
:
448, 390
449, 727 60
. 361,485 00
271, 752 50
244, 130 50 .
258, 502 00
1854..:.
282,065
1855
112,160
2,807,60
1856...
98, 930
2,185 00
1,460
1857*
27, 350
3, 660 00
1,896
32, 906 00
1858....
96, 280
2,260 00
1,637
100, 167 00
1859
57, 020
1,606 00
6,957
65. 582 00
4,006 00
1,472
69, 477 00
1,566
60, 946 00
1860...
To February 28,1861'...
Total
$3, 360
64, boo
59, 380
6, 546,055
3,360
• F i r s t six months.
494, 625 00
72, 529
6,115, 569 00
f
291
DIRECTOR OF THE MINT.
XXXI.—STATEMENT OF COINAGE OF THE MINTS OF UNITED STATES, &C.—Continued.
[Statement of coinage a t t h e mint at €liaFlotte, N. C , from i t s organization, 1838, t o its suspension,
1861.]
Year.
Total value.
Halfeagles.
Quarter eagles.
Dollars.
1838
$64,430
$19,735 00
1839
117; 336
45,432 50
162,767 50
94,970
32,085 00
127, 065 00
1841
107,335
25,702 60
133,037 50
1842
137,400
21, 605 00
169,005 00
221,765
65, 240 00
287, 006 00
118,165
29, 055 00
147,210 00
1840...-.
o.=.,
1843
.....o..,
1844
$84,166 00
1845
64,975
12,020 00
76,995 00
420,755
58,065 00
478,820 00
1848..
322,360
41, 970 00
1849
324,116
25,650 00
$11,634
361,299 00
1850
317,955
22,870 00
6,966
347, 791 00
1851
245,880
37,307 50
41,267
324,454 50
1852^
362,870
24,430 00
9,434
396,734 00
11,616
339,370 00
1846
1847;
o..= . . . .
1863
1854
327,855
:
196,415
18,237 50
1865
198,940
9,192 50
1856
142,285
19,782 60
1857*
65, 685
1858
155,330
1859
197,600
1860
11.5, 025
To March 31,1861.
Total
i
364,330 00
214, 652 50
9,803
162,067 50
13,280
22,640 00
78, 965 00
177, 970 00
6,235
18, 672 50
202, 735 00
133, 697 50
70, 580
4,389, 915
217, 935 50
70, 580 00
549,692 50
* First six months.
109,134
5,048, 641 60
292
A
REiPORT ON THE FINANCES.
XXXI.—STATEMENT OF COINAGE OF THE MINTS OF THE UNITED
STATES
[Statement of coinage of the Mint at San FrancisCO
Year.
Double
Eagles.
Half eagles.
Three
dollars.
Quarter
eagles.
1854-
$2, 829, 360 $1, 238, 260
1855.
17,183, 500
90, 000
305, 000 |$19,800
1856.
23, 635, 000
735, 000
•470, 500 103,500
177,800
1857*
12, 090, 000
100, 000
235,000
15, 000
50,000
293, 000 27, 000
1858-
17, 718, 800
278, 000
1859.
13, 782, 800
20,000
'i860 -
11,599, 500
100,000
1861.
12, 286, 000
60, 000
Trade
dollars.
24, 600
123, 000
20, 000
48, 600
20, 000
15, 000
$16,000
83, 500 21, 000
72, 000
13, 000
6,000
40, 000
35, 000
1862.
15, 200, 000
180, 000
90, 000
75,000
17, 328, 460
90, 000
82, 500
10, 000
1864.
18, 946, 400
50, 000
50, 000
22, 000
1865.
18, 503, 200
87, 000
60, 000
20,640
17, 530,000
305, OO'O
267,100
116,200
1867...
18, 020, 000
20, 000
120, 000
65,000
1868...
13, 935, 000 • 125,000
125, 000
65, 000
1869...
18,220, 000
220, 000
95, 000
1870...
19,195, 000
65, 000
23,750
29,300
Dollars.
1$14, 632
$1, 340
1863.
115„000
Dollars,
3,000
1871...
17, 660, 000
80, 000
86, 000
40, 000
1872...
17,400, 000
198, 000
127, 000
65, 000
1873...
16,612, 000
140, 000
180,000
35, 000
1874...
21, 960, 000
120,000
155, 000
67, 500
$2,121,000
1875 ....
26,000, m
100, 000
100, 000
1876...
26, 900, 000
60, 000
45,000
41,600
4, 523,000
9,700
3,379,000
8, 042,000
, 1877...
32,460,000
66,000
32,500
6,000
1878...
40,740, 000
115,000
101,000
83,500
2,652,000
1879...
27,680,000
261,000
834,600
553,750
12,722,000
1880 ...
19,216,000
4,612,500
4, 314, 500
7, 910,000
1881...
15,300, 000
6,310,000
6,890,000
11,460, 000
7,400, 000
7,250, 000
11,000,000
1882...
14,200,000
1883...
26, 380, 000
380,000
1884...
22,460, 000
452,600
1885...
19, 040, 000
1886...
4. 870, 000
790, 000
6, 940. 000
Total...! 616, 881, 020 31, 626, 560
8,582,000
7,350,000
4,800,000^
631, 000
2,900,000
1, 027, 500
47,000
15, 270, 000
39, 599, 540 186, 300
1, 861, 255
*First six months.
90, 232
60,770,700
26,647, 000
293
BIRECTOR OF THE MINT.
BY D E N O M I N A T I O N O F P I E C E S FROM T H E I R ORGANIZATION—Continued,
organization, 1864, to J u n e 30,1886.]
Half dollars.
Quarter dollars.
Total gold.
Twenty
cents.
Dimes.
Half
dimes.
Total silver.
$4, 084, 207
Total value.
$4, 084,207
975 00
$103,100 00
17,.69.8,30Q
105, 500 00
71, 600 00
25, 146,400
177,
25, 323,400
43, 000 00
7,000 00
12, 490, 000
50,
12,640, 000
109, 000 00
15, 750 00
$3, 000 00
18, 459, 800
127,
18, 587, 650
231, 500 00
43, 000 00
9, 000 00
13, 886,400
298,
14,184, 900
. $164,
1.7,762, 375
4,000 Ou
11, 889,000.
361,
12,250, 500
175, OOd 00
13, 000 00
10, 000 00
12, 421, 000
198,
12,619,000
589, 750 00
30, 000 00
21, 950 00
15, 545, 000
641,
16,186, 700
771, 000 00
10, 750 00
29,125 00 $5, 000 00 17, 510,960
815,
18, 326, 836
324, 000 00
5, 000 00
14, 000 00
347,
19,415,900
306, 500 00
5, 500 00
15, 000 00
4, 500 00 19, 068, 400
t
1, 800 00 18, 670, 840
328,
18, 999, 640
245, 000 00
4, 750 00
21, 000 00
18,498,250
13, 000 00
18, 217, 300
10, 200 00
13, 000 00 ...•.
I 18,225, 000
280,
608, 000 00
634,
18, 859, 000
741, 000 00
30, 000 00
31,000 00 20, 000 00] 14,250, 000
822,
15,072,000
368,000 00
19, 000 00
500 00
' 346,
6, 000 00
\
1
I 18,650, 000
406,
19, 056, oop
567, 000 00
26,000 00 11. 500 00 19, 316, 050
59.4,
19, 910, 550
722, 000 00
7, 725 00
9, 000 00 , 8,050 00 17, 865, 000
746,
883, 000 00
12, 750 00
790, 000
36, 000 00 23, 750 00 17,
18, 500 00
16, 000 00
16, 000 00 34, 300 00
241, 000 00
129,000 00
479, 000 00
19, 000 00
18,611,775
18,745,500
967, 000
94,
59, 600 00
302, 500
2, 550,
24,853,000
123, 000 00 $3, 000 00 343, 000 00
200, 000
.4, 327,
30, 527, 000
1,772; 000 00 1, 080, 000 00228, 000 00 ,350,000 00
036, 500
8, 953,
35,989,500
2,825, 000 00 2, 270, 000 00
412,000 00
552, 500
13, 549,
40,101,500
1,526, 000 00 1,130, 000 00
78, 000 00
039, 500.
13, 868,
54,907,500
329, 250
12, 722,
42, 051, 250
143, 000
7,910,
36,053, 000
500, 000
11, 460,
39, 960, 000
850. 000
11,000,
39, 850, 000
7, 350,
34,110, 000
760, 000
50, 000 00
8, 799 70
2, 066 20
14, .048, 225 00 5,145,825 00 231,000 002,680,440 90119,100 00
543, 500
857, 600
080, 000
17, 061, 500
4, 850,
28, 393,500
2, 908,
23, 766,299
49,
27,129,066
244,907 00109, 642,290 90799,787,197
294
REPORT ON THE FINANCES.
XXXI.—i'SXATEMENT OP COINAGE OF THE MiNTS OF THE UNITED STATES
[Statement of the coinage of the mint at Carson City.from its
Year.
Dotible
eagles.
Eagles.
Half eagles.
Dollars.
1870.
$66,680
$34,480
$9,450
1871.
104,440
66,850
59,425
304
•1872.
388,600
' 38,600
106,250
3,626
3,300
Trade
dollars.
$12,158
1^73.
509,000
66,400
52,000
1874.
1,478,700
112, 280
81,880
$4()9,'700
1875.
1,969,940
119, 240
101,915
1,841,700
1876.
2,767,820
95,290
18,415
1,329,000
1877.
1,687,700
1878.
771,040
1879.
i253,'740
32,440
42,130
644,000
1880.
36,460
44,720
166, 610
408,000
34,435
33, 320
62,320
221,000
114,000
1881.
157,290
187,300
539,000
1882.
.262,230
763,000
120,000
363,420
167,660
1883.
1,133,220
67,640
203,085
1884.
1,304,820
187,560
iio, 790
164, Odo
1885-
992,360
31,690
27,010
776,000
13,826, 740
1,245,460
1,524,245
,547,288
Total
4,211,400*)
28,000
To December 31,1885.
Total
•410,000
13,826,740
1, 245,460
1,624,245
7, 576,288
4,211,40Q.
295
DIRECTOR OP THE MINT.
BY DENOMINATION OF PIECES FROM THEIR ORGANIZIATION—Contintted.
from its organization, 1870, to J u n e 30,1886.]
SILVER.
Half dollars. • Quarter
dollars.
$6,400 00
Twenty
cents.
Totalgold.
$110,610
$1,235 00
$640 00'
50,208 60
Total silver.
Total value.
Dimes.
$19,793 00 ,
$130,^303 00
•230,715'
62, 876 iOO:
283/590 00
633,360
96,006 50
•'628,'356 50
83,675 00
5,287 50
2,618 00
212, 250 00
4,150 00
4,355 00
617,400
224,065 00
841,455 00
55 780 00
2,240 50
2,245 80
1,672,860
469,966 30
2,142,826 30
$658 00
167,000 00
757, 000 00
611,000 00
28,000 00
1, 272, 000 00 1,147,000 00
50, 000 00
"88,600 00'
2,19i, 095
2,007,858 00
4,288,'953 00
848,000 00 _
2,881,526
3,573,000 00
6,454 626 00
•916; 000 00
1,722,136
3,:556, oootoo
5,278,135 00
'229,00*0 00 1
810,000 00
i
'866,680
;2,i613,000 00'
3,-479,680 00
328,310''
l,iBH'000 00
1,972,310 00
246,790
408,000 00'
654,790 00
344,590
539,000 00
883,590 00
783,310
2,654, 313 50
2,582,'635'50'
2,654,313 50 2,582,635 50
28,'658 00 ' % 091,258 80'
•;
28p658 00 2,091,258 80
763,000100,
1,546,310 00
l,'4d3,94'5
1,120,000 00
2,'523,945 00
1,612,170
1,1(54,000 do
2,7'76,«170 00
1,061,060
776,000 00
1,827,060 00
16,696,446'
19,115,553'80!
28,000'00"
16,596,445
19,143,553 80
35,7.11/998 80
28, doo 00
35,739,998 80
296
REPORT ON T H E FINANCES.
XXXII.—COINS
OF T H E U N I T E D STATES, A U T H O R I T Y F O R ^COINING,
AND CHANGES I N W E I G H T AND F I N E N E S S .
GOLD COINS.'
Douhle eagle.
Autliorized to be coined, act of Marcli 3, 1849.
Weiglit, 516 grains; fineness, 900.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$1,025,876,120.
Eagle.
Autliorized to be coined, act of April 2, 1792.
Weiglit, 270 g r a i n s ; fineness, 916f.
Weight changed, act of J u n e 28,1834, to 258 grains.
Fineness changed, act of J u n e 28,1834, to 899.225.
i
Fineness changed, act of January 18, 1837, to 900.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$175,809,120.
Half eagle.
Authorized to be coined, act of April 2, 1792.
Weight, 135grains; fineness,916|-.
Weight changed, act of J u n e 28,1834, to 129 grains.
Fineness changed, act of J u n e 28, 1834, to 899.225,
Fineness changed, act of J a n u a r y 18,1837, to 900.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$172,985,685. ,
Quarter eagle.
Authorized to be coined, act April 2, 1792.
Weight, 67.5 g r a i n s ; fineness, 916f.
Weight chaaged, act of J u n e 28,1834, to 64.5 grains.
Fineness changed, act of J u n e 28, 1834, to 899.225.
Fineness changed, act of J a n u a r y 18,1837, to 900.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$28,415,992.50.
Ihree-dollar piece.
Authorized to be coined, act of February 21,1853.
Weight, 77.4 g r a i n s ; fineness, 900.
Total amount coined to close of fiscal year ended J u n e 30,1886, $1,574,520.
On^ dollar.
Authorized to be coined, act March 3, 1849.
Weight, 25.8 grains; fineness, 900.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$19,397,091.
DIRECTOR OF T H E MINT.
X X X I I . — C O I N S O F T H E U N I T E D STATES, AUTHORITY F O R C O I N I N G ,
AND CHANGES I N W E I G H T AND FINENESS—Continued.
SIIVER COINS.
Dollar.
Authorized to be coined, act of April 2,1792.
Weight, 416 grains 5 fineness, 892.4.
Weight changed, act of J a n u a r y 18,1837, to 412| grains.
Fineness changed, act of J a n u a r y 18,1837, tOi900.
Coinage discontinued, act of February 12, 1873.,
Total amount coined to February 12, 1873, $8,045,838.
Coinage reauthorized, act of February 28, 1878.
Amount coined from March 1, 1878, to J u n e 30, 1886, $233,723,286 (including $1,837 recoined).
Trade dollar.
Authorized to be coined, act of February 12,1873.
Weight, 420 g r a i n s ; fineness, 900.
Coinage limited to export demand, joint resolution J u l y 22, 1876.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$35,965,924.
.Half dollar.
Authorized to be coined, act of April 2,1792.
Weight, 208 grains; fineness, 892.4.
Weight changed, act of J a n u a r y 18,1837, to 206^ grains.
Fineness changed, act of J a n u a r y 18,1837, to 900.
Weight changed, act of February 21,1853, to 192 grains.
Weight changed, act of February 12,1873, to 12^ grams, or 192.9 grains.
Total amount coined to close of fiscal year ended J u n e 30, 1886,
$122,771,345.
Quarter dollar.
Authorized to be coined, act of April 2,1792.
Weight, 104 grains; fineness, 892.4.
Weight changed, act of J a n u a r y 18, 1837, to 103i grains. ,
Fineness changed, act J a n u a r y 18, 1837, to 900.
Weight changed, act of February 21, 1853, to 96 grains.
Weight changed, act of February 12,1873, to 6^ grams, or 96.45 grains.
Total ainount coined to close*of fiscal year ended J u n e 30, 1886,
$38,496,723.75.
Twenty-cent piece.
Authorized to be coined, act of March 3,1875.
Weight, 5 grams, or 77.16 grains; fineness, 900."
Coinage prohibited, act of May 2, 1878.
Total amount coined, $271,000.
"
'
297
298
.
R E P O R T ON T H E FINANCES.
X X X I I . — C O I N S O F T H E U N I T E D STATES, AUTHORITY F O R COINING,
iAND CHANGES I N W E I G H T AND FINENESS—Continued.
SILVER COINS-Contlnued.
Dime.
Authorized to be coined, act of April 2, 1792.
/
Weight, 41.6 g r a i n s ; fineness, 892.4.
Weight changed, act of Jainuary 18, lS37, to 41|- grains.
Fineness changed, act of J a n u a r y 18,1837, to 900.
Weight changed, act of February 21, 1853, t o 38.4 grains.
Weight changed, act of'February 12,1873, to 2^ grams, or 38.58 grains.
Total amonnt coined to close of jfiscal year ended J u n e 30, 1886,
$18,785,608.10.
Half dime.
Authorized to be coined, act of April 2, 1792.
Weight,o20.8 grains ; fineness, 892.4.
Weight changed, act of J a n u a r y il8, 1837, to 20f grains.
Fineness changed, act of J a n u a r y 18,1837, to 900.
Weight changed, act of February 21, 1853, to 19.2 grains.
Coinage discontinued, act of February 12,1873.
Total amount' coined, $4,906,946.90.
Three-cent piece.
Authorized to be coined, act of March 3, 1851.
Weight, 12-1 grains; fineness, 750.
Weight changed, act of March 3,1853, t o 11.52 grains.
Fineness changed, act of March 3, 1853, to 900.
Coinage discontinued, act of February 12, 1873.
Total amount coined, $1,281,850.20.
MINORCOINS.
Five ^cetit {nickel).
Authorized to be coined, act of May 16, 1866.
Weight, 77.16 grains, composed of 75 per cent, copper and 25 per cent,
nickel.
Total amount, coined to fclose of fiscal year ended J u n e '30, 1886,
$8,139,295.60.
Three cent {nickel).
Authorized to be coined, act of March 3,1865.
Weight, 30 grains, composed of 75 per cent, copper and 25 per cent,
hidliel.
^
Tbtal amount coined tb close olT fiscal year ended J u n e 30,1886, $891,009.
Tu)o cent {bronze).
Authorized tb be coined, act of April 22, 1864.
Weight, 96 grains, compbsed of 95 per cent, copper and 5 per cent* tin
and zinc.
Coinage discontinued, act of February 12, 1873.
Total araount coined, $912,020.
DIRECTOR OF T H E MINT.
X X X I I . — C O I N S O F T H E U N I T E D STATES, AUTHORITY F O R C O I N I N G ,
AND CHANGES I N W E I G H T AND FINENESS—Continued.
MINOR COlNS-Continued.
Cent {copper).
. Authbrized tb be cbiiiied, act of April 2, 1792.
Weight, 264 igrains.
Weight changed, act of J a n u a r y 14, 1793, to 208 grains.
Weight changed by proclamation of t h e President J a n u a r y 26,1796, in
conformity wiih. act bt March 3, 1'795, to 168 grains.
Coinage discontinued, act of February 21, 1857.
Total amount coined, $1,562)887.44.
Cent {nickel).
Authorized to be coined, act of February 21, 1857o
Weight, 72 grains, composed of 88 per cent, copper and 12 p e r c e n t .
nickel.
Coinage discbntinued, act of April 22, 1864.
Tbtaliamount coined, !$2,OO7,720.
Cent {bronze).
Coinage authorized, act of April 22, 1864.
Weight, 48 grains, comxiosed of 95 per cent, copper and 5 per cent, tin
and zinc.
Total amount cbined to clbse of fiscal year ended J u n e 30, 1886,
$3j928,127.94.
Half cent {copper).
Authorized tb be coined, act of'Ajiril 2, 1792.
Wieight, 132 grains.
Weight changed, act of January 14, 1793, t o 104 grains.
Weight changed by proclamation of the President, J a n u a r y 26, 1796,
in cbntormity with act of Mairch 3,1795, to 84 griains.
Cbihage discbhtiniied, act bf Febriiary 21, 1857.
Totalamount coined. $39,926.11.
299
300
REPORT
ON T H E FINANCES.
X X X I f l l . — U N R E F I N E D GOLD AND S I L V E R O F DOMESTIC PRODUCTION, I T S
DISTRIBUTION B Y STATES AND T E R R I T O R I E S .
BULLION
ALSO R E F I N E D DOMESTIC
(NOT DISTRIBUTED) DEPOSITED AT T H E M I N T S
AND ASSAY
O F F I C E S FROM T H E I R ORGANIZATION TO T H E CLOSE O F T H E F I S C A L Y E A R
ENDED J U N E 30, 1886.
Locality.
Gold.
Alabama
Silver.
$64 02
$226,974 58
Alaska
2,196 01
263,664 17
A rizona
.\
4,005,061 03
Total.
17,620,831
743, 986,954
740, 061,407 17
3,926,546 96
Colorado
50,087,096 25
23, 910,646 24
Dakota
26,912,794 26
Idaho
3,461 64
1,397,222 91
.....e..............
Maryland
5,638 20
5,660
4,848 57
3 24
4,851
23, 029 71
Montana
57,942,047 01
Nebraska
Nevada
i
917 56
917
3,629,325 39
3,652,356
13, 588, 327 90
7i, 630,374
North Carolina
661 63
6 18
667
23,402,999 36
92,818,836 47
116,221,835
11, 020 55
NewHampshire
2,434,412 84
New Mexico
.'
-.
Oregon
Pennsylvania
South Carolina
-Tennessee
Texas
11^ 020
5, 665,100 10
7,989,612
11,068,347 20
49,179 87
11,117,527
18,747,932 24
60,386 62
18, 808,318
1,138 34
2,688 47
3,726
1,599,890 33
1,244 70
1,601,136
87, 665 93
10 15
87,676
2 147 40
2,739 03
783, 343 95
Dtah
8,418,937
29,639,626
22 00
Massachusetts
Michigan
73,997,742
26,465,433
40
40 13
Indiana
Maine
652,639 69
8,415,475 79
28,242,403 89
266,869
13,616,770 65
California
Georgia .-
$227,038
18, 973, 228 37
Vermont
85, 698 21
49 94
Virginia
1,715,578 01
222 29
4,886
19,756, 572
85,648
I, 715, 800
Washington Territory
398, 181 96
Wyoraing
753, 768 86
12,126 16
765,-895
37,169,366 66
41,793,414 43
78,962,781
Other sources or not reported.
1,013,462,524 20
Total unrefined
Reflned hullion
,
288,183,599 24
1,301,636,123 44
•
1, 772 97
399, 954
^219,797, 048 75 1,233,249,672 96
165,984,502 64
464,168,101 88
385,781,551 39
1, 687,417,674 83
301
DIRECTOE OF T H E MINT.
X X X I V . - D E P O S I T S F O R GOLD AND SILVER BARS PREPARED B Y THE U . S .
M I N T S AND T H E ASSAY O F F I C E AT N E W YORK, AND B Y P R I V A T E R E F I N E R S ,
DURING T H E CALENDAR YEAR 1885, PRESUMABLY FOR USE I N T H E ARTS
AND MANUFACTURES.
/
GOLD.
Coin.
Foreign
hullion.
Domestic
bullion.
Deposits for
large bars not
foruseofmanOld plate, ufacturers, redeposited for
small bars for
use by manufacturers.
Total.
New York Assay Office... $66,270 51 $439,932 06 $2,026,426 85 $679,289 41 $2,363,907 60 $5,474.826 42
Philadelphia
60,942 66
397,466 10
Mint
458,408 76
SanFrancisco
Mint
P r i v a t e re1,272,606 00 « 310, 696 00
345, 055 00
1,928,366 00
T o t a l . . . 410,325 61
837,398 16
3,299,032 85
950, 927 07
2,363,907 60
7,861,691 18
SILVER.
New York Assay Office... $63,391 72 $762,827 02 $3,680,588 GO $184,015 32
Philadelphia
27,399 60
14,621 09
Mint
SanFrancisco
569 51
Mint
P r i v a t e re396,238 00 120, 378 00
15,212 00'
flneries
Total...
78, 603 72 752,827 02
4,103, 225 60
319, 583 92
$4,680,822 06
42,020 69
569 51
530,828 00
5,254,240 26
302
EEPOET ON THE FINANCES.
I
x x x v . — T A B L E SHOWING T H E V A L U E O F THE F O R E I G N GOLD C O I N S D E
D e n o m i n a t i o n of
coins.
C o u n t r i e s of coinage.
1875.
1877.
1876.
1878.
1879.
I
5 uesos
Sovei'pifims
20 f r a n c s
DucatS'
Doubloons
Argentine Republic
Australia
Austria
Do
Bolivia
•
a- .
$1,213 15
$2,502 67
•
•
•
189.84
$745 29 , $2, 273 22
Central American S t a t e s .
Do
Chili
Do
Do
Do
C o s t a Kica
Do
Do
. . .
Do
Do
Do.,
Frauce
...
Do
Gerraanv
Do
Do
G r e a t Britain'
Guatemala
Do
Do .
Do
Do
Japan....'.
'Mexico
Do
Do
Do
Do
M i x e d coins
lOpesos
Doubloons
Condores
Pesos
20 p e s o s
. •
5, 006 20
2, 346 79
1, 576 95
.
4, 345 55
700 59
181 34
723 52
2, 838 33
1 0 DGSOS
.
5.pesos
Doubloons
2 pesos
Peso
20 f r a u c s
Nay)()leons
20-iiiark p i e c e s
]0 t h a l e r s . .
Sovereigns . . . . K
20 p e s o s
30 p e s o s .
.
22, 893 54
262 53
885 67
3,870 55
1,711 36
$380 87;
•
576 84
3, 073 79
748; 884 51
7,6i4 03
442 11 32,945,21910
41,486 23 106,754 98
11, 868 60 41,200 66 90, 830 22 726, 176 49:
1, 223 10
53, 505'40 29, 381. 11 256; 348 40 '".334," 425" 17
962 86
231 23 ^
5T)6S0S
4 pesos
Peso
469 08
1, 095 12
I,194 42 132, 849 49
Yens
413,496 07 200,157 55 227, 518 16 177,446 18 132, 455 47
20 p e s o s
14,481 04
10 p e s o s
Peso
' '
274 67
270, 009 64
355, 904 48 135, 228 40
60, 215 43
Doubloons
Doubloons a n d
pesos.
4 doubloons
654 60
Do
693 18
1,291 70
577 80
10
guilders
Netherlands
596 26
5, 326 22
695 43
Peru
15,845 65
183 63
20 soles
125 36
Do
Doubloons
Do
Soles
357 88
2,438 88
Russia
^
700,460 93
5 roubles
Do
4-, 340 55
Imperials
Do
Q imperials
Do
4, 748 47
3 roubles
Scandinavian Union
313 13
20 k r o n e r s
5, 998 87
3,601 66 1, 619 11 5, 637 50
665 30 2,149, 719 71
1,250 64 3, 875 32
Doubloons
Spain
7, 668 54
Do . .
52,573 14
2^ d o u b l o o n s
Do
199, 685 45
^ doubloons
Do
Escudos
Do
100 r e a l s
-..
1,368 93
5, 944 96
308 72
Do
I s a b e l line3
Do
384 72 5, 672 57
25 p e s e t a s
87, 365'09
S o u t h A m e r i c a ..<.
Doubloons
"*24,'i23 51
M
i
x
e
d
DoTurkey
100 p i a s t r e s
D n i t e d S t a t e s of Colombia 20 pesos
281 85
4, 878 71
11, 659 67 4,645 84
2, 251 17
Do
907 19
2, 980 20
10 p e s o s
Do
5 pesos
2, 965 05
Do
764 40
Mixed
498 74
Do
948 36 "'7,'225 "93
333 58
Condores
286 29
' Do
Doubloons
..
777 48 2, 806 27 2, 399 35
15, 398 93
446 64
Do
1, 570 10 1,556
@FedFRASER