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ANNUAL REPORT
SECRETARY OF THE TREASURY
STATE OF THE FINANCES
THE YEAR 1884.
WASHINGTON:
GOVERNMENT P R I N T I N G O E F I C E .
,
1884..
5022 P
f
{JU
TABLE OF CONTENTS.
Page.
L — R E P O R T OF THE SECRETARY OF THE TREASURY
III
. Tables accompanying the report
\
Appendix : Report of the Supervising Special .Agent.
....
1
61
I L — R E P O R T S OF TREASURY OFFICERS :
Auditor, First
Auditor, Second.
Auditor, T h i r d . .
Auditor, Fourth
Auditor, F i f t h . .
Auditor, Sixth
Commissioner of Cnstoms
Commissioner of Interjuil Revenne
Comptroller, First
?.
Comptroller, Second
Comptroller of the Cnrrency
Director of the Mint
,
Liabilities to ludian tribes
Register
Treasurer
-.--
....
.
.'
285297
309325
343
3dl>
277
75
26t
271
119
191
587
447
397
i.'
TREASURY DEPARTMENT,
Document No. 617,
Secreta/ry.
••}
REFORT
TREASURY DEPARTMENT,
Washington., D. C, December 1, 1884.
S I R : I have the honor to subinit the following report:
The ordinary revenues of the Government from all sources for the
fiscal year ended June 30, 1884, were:
,
9
From customs..
<.
$195, 067,489 76'
From internal revenue
121,586,072 51
From sales of publiciands....
9,810,705 01
From tax on national banks
3,108,730 13
From profits on coinage, bullion deposits, and assays..
4, 250, 609 .30
From customs fees, fines, penalties, &c
1,074,665 46
From fees—consular, letters-patent, and lands
3,248,937 57
From repayment of interest by Pacific Eailway Companies
'.
1,371,363 21
From sinking-fund for .Pacific Eailway Companies
2, 045, 775 05
From deposits by individuals for surveying public
lands
....:...
664,111 78.
From proceeds of sales of Government property.
546, 634 74
From Indian trust-funds
......,.;..
76,115 63 >
From donations towards liquidating the public debt...
63,314 97
From immigrant fund
224, 286 50
From Soldiers' Home, permanent fund
367, 092 04
From sale of condemned naval vessels
200, 000 00
From revenues of the District of Columbia
1,970, 726 13
' Froiji miscellaneous sources
2, 843,240 13
Total ordinary receipts
;........,
348, 519, 869 92
The ordinary expenditures for the same period were:
For civil expenses...
$22, 312, 907 7 1 .
For'foreign intercourse
.,...!
1,260,766 37
' For Indians
6,^475,999 29
Forpensions
55,429,228 06
For the military establishment, including river and
harbor improvements and arsenals
39,429, 603 36
F o r t h e naval' establishment, including vessels, machinery, and ^ improvements at navy-yards
17, 292, 601 44
IV
REPORT OF THE SECRETARY OF THE TREASURY.
For miscellaneous expenditures, including public
buildings, light-houses, and collecting the revenue.. $43, 939, 710
For expenditures-on account of the Districtof Columbia
„ 3,407,04,9
For interest o n t h e public debt
54,578,378
For the sinking-fund...
;
46,790,229
Total ordinary expenditures.'
Leaving a surplus of....;
00
62
48
50
290, 916,473 83
57,603,396 09
Which was applied to the redemption—
Of Oregon Avar debt
' $650 00
Ofloanof 1858
5,000 00
Ofloanof February, 1861
'.
55,000 00
Ofloanof July and August, 1861..
202,650 00
Of loan ofMarch, 1863
28, 7;00 00
Of five-twenties of 1862....
'
4,150 00
Of five-twenties of 1864...
1,000 00
Of five-twenties of 1865
;.,
".
1,200 00
Of ten-forties of 1864
.'
;
72,300 00
Of consols of 1865
65,400 00
Of consolsof 1867
.......'
'.
'.
178,850 00
Of consols of 1868
21,700 00
Offunded loan of 1881....:
171,450 00
Ofloanof July 12,, 1882
52,260,650 00
Of certificates of deposit
990,000 00
Of refunding certificates..
65,900 00
Of old demand, compound-interest, and other notes..
12,255 00
And to the increase of cash in the Treasury
3,466, 541 09
Total
57,603,396 09
The requirements of the sinking-fund for the past fiscal year, including a balance of $623,316.71 from the preceding year, have been fully
met. It is estimated that the requirement for the' present fiscal year
will be $47,620,201.16, of which there has been applied during the first
four months of the year the sum of $27,067,050.
Compared with the previous fiscal year, the receipts for 1884 have
in the following items decreased $54,044,793.16: In customs revenue,
$19,639,007.17 j in internal revenue, $23,134,296.47; in tax on national
banks, $6,002,278.72; in deposits by individuals for surveying public
lands, $557,499.98; in donations towards liquidating the publicdebt,
L, 111. 90; in proceeds of sale of post-office property in ^l^Tew York
REPORT O F T H E SECRETARY O F T H E
TREASURY.
city; $648,694.82; in profits on coinage, bullion deposits, and assays,
$209,595.87 ; in Indian trust-funds, $83,567.28; in consular fees,
$177,057.97 ; in custom-house fees, $129,066.66; in customs fines, penalties, and forfeitures, $56,093.84; in customs emolument fees, $176,410,38;
in repayment of interest by Pacific Eailway Companies, $185,503.69;
in tax on ,seal-skins and rent of seal islands, $65,420.25 ; in proceeds
of Japanese indemnity fund, $1,839,533.99, and in miscellaneous items, <
$239,654.17. There was an increaseof $4,277,081.13, as follows: In
salesof public lands, $1,854,840.59; in proceedsof sales of Government property, $261,579.72; in sinking-fund for Pacific Eailway Companies, $723,671.94; in sales of Indian lands, $280,046.40; in reim*bursement by national-bank redemption agency, $82,946.83; in registers' and receivers' fees, $84,783.60; in fees on letters-patent, $18,850.30;
in Soldiers' Home permanent fund, $301,468.50; in reimbursement for
surveying Indian lands, $310,406.95; in sale of condemned naval vessels, $200,000; in saleof military barracks, $60,643.76; in payment
for railway material, $64,000; in rent of Hot Springs reservation,
$17,501.13; in jDroceeds of sales of small-arms, $12,988.17, and in
marine-hospital tax, $3,353.24; making a net decrease in the receipts
from all sources of $49,7^67,712.03.
The expenditures show a decrease as compared with the previousyear
of $25,533,468.97, as follows: In the War Department, $9,481,779.57;
in pensions, $10,583,345.58; in Indians, $886,591.05; and in interest
on the public debt, $4,581,752.77.
There was an increase of
$4,2,51,575.76, as follows: In the ISTavy Department, $2,009,164.27;
and in civil and miscellaneous, $2,242,411.49; making a net decrease
in the expenditures of $21,281,893.21.
FISCAL YEAR
1885.
For the present fiscal year the revenue, actual and estimated, is as
follows:
Q
For the quarter For the remainended Sept. 30, ing three-quar1884.
ters of the year.
Source.
Actual.
From internal revenue
From sales of public lands
.'.
From repayment of interest and sinking-fund,
Prom customs fees fines nenalties &c
;.
From fees—consular, letters-patent, and lands...
From proceeds of sales of Go vernment property..
Prom nrofits on coinao'e assavs &c
From revenues of the District of Columbia
Froni miscellaneous sources
^4,102,858 65
28,639,010 76
1,446,183 88
1,474,132 14
o
Total.
Estimated.
$130,897,141
86,360,989
5,053,816
^,525,867
35
24
12
86
$185,000,000
115,000,000
6,500,000
3,000,000
00
00
00
00
1,518,407 05
276,344 68
910,243 29.
55,132 96
1,927,644 70
1.68,645 27
255,860 61
944,681 51
1,481,592 95
723,655 32
2,089,756 71
344,867 04
2,172,355 30
^ 331,354 73
1,544,139 39
5,755,318 49
3,000,000
1,000,000
3,000,000
400,000
•4,100,000
500,000
1,800,000
6,700,000
00
00
00
00
00
00
00
00
91,719,145 50
238,280,854 50
.330,000,000 00
VI
REPORT OF THE SECRETARY OF THE TREASURY.
The expenditures for the same period, actual and estimated, are:
For the quarter For the remain^
ended Sept. 30, ing three-quar1884.
ters of the year.
Object.
Actual.
For civil and miscellaneous expenses, including
public buiidii^gs, light-houses, and collecting
the revenue..;
For Indians.....';.
Forpensions..:^
For military establishment, including fortifications, river akd harbor improvements, and
arsenals
For naval establishment, including vessels and
machinery, and improvements at navy-yards.
For expenditures on account of the District of
tUolumbia
,
For interest on the public debt
For the sinking-fund
Total ordinary expenditures.
Total.
Estimated.
$21,251,296 74
U , 995,942 22
14,951,525 96
$48,998,703 26
. 4,504,057 78
38,048,474 04
$70,250,000 00
6,500,000 00
53,000,000 00
13,049,465 86
28,950,534 14
42,000,000 00
4,289,798 17
12,210,201 83
16,500,000 00
1,425,731 89
13,809,410 97
27,067,050 00
2,074,268 11
37,440,589 03
20,553,151 16
3,500,000 00
51,250,000 00
47,620,201 16
97,840,221 81-
192,779,979 35
290,620,201 16
Total receipts, actual and estimated
Total expenditures
$330, 000, 000 00
290,620,201 16
Estimated surplus
39,379,798 84
FISCAL YEAR
1886.
The revenues of the fiscal year ending June 30, 1886, are thus estimated,upon the basis of existing laws:
.
From customs
$185, 000, 000 00
From internal revenue..
115, 000, 000 00
500, 000 00
From salesof public lands
000, 000 00
From tax on nationalbanks.
'.
From repayment of interest and sinking-fund, Pacific
000, 000 00
Eailway Companies
..7
000, 000 00
From customs fees, fines, penalties, &c.....oi
000, 000 00
From fees—consular, letters-patent, and lands
400, 000 00
From proceeds of sales of Government property
100, 000 00
From profits on coinage, assays, &c
,....500,000 00
From deposits for surveying public lands.
o
800, 000 OiS
From revenues of the District of Columbia
700, 000 00
From miscellaneous sources.
Total estimated ordinary receipts
330, 000, 000 00
The estimates of expenditures for the same period, received from
, the several Executive Departments, are as follows:
Legislative.
Executive
Judicial...
.\.-.
•....
$3,321,486 55
19,335,823 50
408,300 00
REPORT O F T H E SECRETARY O F T H E TREASURY.
Foreign intercourse .....o,
Military establishment
..o
Niival establishment
...............o...
...o......
Indian affairs..
...o
Pensions
........'..........,o.........
Public w o r k s Legislative............;.....
$7,400 00
Treasury Department
4,490,916 54
War Department
...o............... 18, 572,460 48
Navy Department.................v....c 2,218,221 00
InteriorDepartment
...-o
524, 667 41
Department of Justice
148,100 00
;
$1,623,176
26,429,577
30,654,010
7,328,049
60,000,000
VII
75 .
45
50
64
00,
' \
25, 961, 765 43.
Postal service......
4,826,349 26
Miscellaneous
...............o.............
21,919,294 07
District of Columbia
,.
3,669,544 24
Permanent annual appropriations—
Interest on the public debt. ..., = ].;.. .$48, 750, 000 00
Sinking-fund
.v.......... 48,571,861 86
Eefunding—customs, internal revenue, lands, &c
9,623,100 00
Collecting revenue from customs.... 5, 560, 000 00
Miscellaneous
5,989,055 00
,
Total estimated expenditures
118,434, 016 86
323, 911,394 25
Or an estimated surplus of
6,088,605 75
It will be observed that the estimates submitted by the several Executive Departments for the fiscal year 1886 exceed the estimates received from those Departments for the fiscal year 1885 by more than
$40,000,000.
It is well understood that appropriations made upon estimates of the
several Departments usually fall far short of the amount of such estimates; and, without intending to criticise the action of other Departments, I think it may be fairly assumed that the appropriations for
the fiscal year 1886 will not exceed the actual expenditures for 1885/
as shown above. This would leave a surplus for 1886, the same as
for 1885, of more than thirty-nine millions.
The estimate of receipts from customs for 1886 is, in the foregoing
table, placed at $185,000,000, or the same as for the preceding year, according to long usage in estimating in the Secretary's Annual Eeport.
VIII
REPORT OF THE SECRETARY OF THE TREASURY.
That estimate is about ten millions less than the actual receipts from
customs in the fiscal year 1884.
It should be considered that the value of imports of dutiable merchandise for the fiscal years 1884 and 1885 has been much reduced by
the unusual depression of business, which we may fairly hope will
not long continue. This reduction in 1884, as compared with 1883,
was, as appear^ in the tables under the head of ^''Customs," nearly
$38,000,000, the average duty on which would amount to more than
$16,000,000. It seems safe to assume, therefore, that the surplus revenues for 1886 will be more than $50,000,00.0.
REDEMPTION OF UNITED STATES BONDS.
On November 1,1883, the outstanding bonds of the 3 per cent, loan of
the act of July 12,1882, amounted to $305,529,000. Calls were issued
l)rior to November 1, 1883, for $30,000,000 of the above amount, all, of
which matured in the month of December, 1883. During the year
ended October 31, 1884, calls have been issued for $80,000,000 of such
bonds, $70,000,000 of which matured previous to October 31, and
$10,000,000 on the first day of November, 1884.
The following table shows in detail the redemptions and cancellations
of United States bonds during the twelve months ended October 31,
.1884:
Seven-thirty notes of July 17, 1861
$100
Seven-thirty notes, 1864-1865.....
1,800
Loan of June 14, 1858......
,
5,000
Loan of February 8, 1861
.'
.,.!.....
3,000
Oregon war debt
.^
1,300
Five-twenties of February 25, 1862
3,800
Five-twenties of 1865, (May and November).
22, 200
Five-twenties of June 30, 1864
:......
..
1,050^
Ten-forties of 1864
....'
77,250
Consols of 1865
22,150
Consols of 1867
130,650
Consolsof 1868...
.,
,
15,650
Loan of July and August, 1861, (6 per cent.)
35,100
Loan of March 3, 1863, (6 per cent.)....^
t
5,550
Funded loan of 1881, (5 per cent.).
142,200
Loan of July and August, 1861, (continued at 3 J per cent.)
133,100
Loan ofMarch 3, 1863, (continued at 3 J per cent.)
>^
55, 700
Funded loan of 1881, (continued at 3J per cent. )*.
' 5, 347, 700
Loan of July 12, 1882, (3 per cent.)
91,771,000
Total
97,774,300
* Part of which had ;natured previous to November 1, 1883.
REPORT OF THE SECRETARY OF THE TREASURY.
IX
The reduction in the annual interest charge by Teason of the changes
during the year ended October 31, 1884, is as follows:
On bonds redeemed or interest ceased
Deduct for interest on 4 per cent, bonds issued.
Net reduction..:
$3, 204, 260
392
'..:
3,203,868
The following table- shows the changes in the interest-bearing debt
during the year:
T i t l e of l o a n .
F u n ' d e d l o a n of 1881
L o a n of J u l y 12 1882
F u n d e d l o a n of 1891
F u n d e d l o a n of 1907
Navy-pension fund
•<
R a t e of i n t e r est.
Outstanding
November
1,1883.
5 p e r cent.,
continued at
3% p e r cent.
I $4,970,500
3 per cent
43^ p e r c e n t . . . .
4 per cent
4 per cent
3 p e r cerit
Total
Issued
during
the year.
Redeemed
duringthe
year.
Outstanding
O c t o b e r 31,
1884.
, $4,970,500
•
305,529,000
250,000,000
737,620,700
. 325,850
14,000,000
t$70,850
1,312,446,050
70,850
f *9,238,750
t 91,771,000 |-$204,'^519,'250
250,000,000
737,691,550
t61,050
264,800
14,000,000
106,041,300
1,206,475,600
* Ceased to bear interest during the year, but not yet presented for payment,
t Of this issue $9,800 w a s on accountof accrued interest on $61,050 refunding certificates converted.
.
X Redeemed by conversion into 4 per cent, bonds.
CONVERSION OF REFUNDING CERTIFICATES.
Since November 1, 1883, refunding certificates issued in 1879, under
the act of February 26, 1879, have been presented for conversion into
4 per cent, bonds as follows:
Principal...'
Accrued interest due...
Total
$61,050
12,210
:
73,260
For which settlement was made as follows:
Four per.cent, bonds issued
Interest paid in cash
Total
$70,850
2,410
,
73; 260
The certificates still outstanding amount to $264,800.
As I am to occupy for a very brief period only the office recently
made vacant by the lamented death of one distinguished gentleman,
and the acceptance by another scarcely less distinguished of a place
more congenial to his taste, it might be becoming in me to confine my
report to the foregoing exhibits and a presentation of the reports of
X
REPORT OF THE SECRETARY OF THE TREASURY.
the heads of the various bureaus, which abound in valuable information in regard to the condition of the Department, and to other matters
of interest to Congress and the ptiblic.
There are, however, sorae subjects of so great importance that I do
not feel at liberty to .withhold an expression of my views upon them,
short as has been the time for their consideration. These subjects are:
1st. Our Foreign Trade and Taxation.
2d. Our Merchant Marine.
c
3d. The Public Debt and the Condition of the Treasury.
4th. Our National Banking System.
FOREIGN TRADE AND TAXATION.
In the early days of the West, when population was more than
keeping pace with the acreage brought under cultivation, there was
a ready demand for what the farmers raised, and the home market
, was the only market they needed. This satisfactory condition of
agricultural industry in that section of the country was of short duration. Good prices stirnulated prbduction, and in a few years the supply
became greater than the demand, in consequence of which the value
of agricultural products began to decline, and the decline went on until
what the farmers could obtain for their crops was insufficient to cover
the necessary outlays in producing them. So great was this decline, in
many instances, that where the farms were at a long distance from navigable waters, wheat remained uncut in the fields and corn was used for
fuel. The owners of such farms were therefore compelled to leave a
part of their fields uncultivated, so that lands of great fertility became
well-nigh valueless. To: remedy this very untoward condition of their
agricultural industry, many States in 1834 and 1835 commenced large
works of internal improvement, but before their completion the financial crisis of 1837 occurred, which caused a collapse of all great enterprises throughout the entire country, and left most of the States that
had engaged in them overloaded with debt and without advantage
from their large expenditures. The Wabash and Erie Canal, work on
which had been commenced two years before, and was designed to
unite the navigable waters of the Wabash Avith Lake Erie, Avas the only
one of the Western enterprises of that day which was completed, and
its completion was OAving to a land grant made for its construction by
the United States GoA^^ernment. Although the country benefited by
the opening of this canal was of considerable extent, it was small in
comparison with the vast region, far distant from naAagable waters,
which was rapidly being occupied by enterprising and thrifty farmers.
What this vast region needed was a market and facilities for reaching
REPORT OF THE SECRETARY OF THE TREASURY.
XI
it, with both of which it was soon supplied. It is now penetrated
in all directions by railroads, and the cost of transportation has been
SO cheapened that farming lands far west of the Mississippi have become nearly as valuable as lands in the seaboard States, o To the rise
in the value of lands resulting from the construction of railroads the
wonderful increase of the national, Avealth is very largely attributable.
The condition of the manufacturing interest of the United States is
similar in some respects to the condition of the agricultural interest of
the West in the early days to which I have referred. What the Western
farmers then needed was a market for their crops. What manufacturers now need is a market for their surplus manufactures.
The real foundation of our great manufacturing industry Avas laid in
New England under the first tariff of a protective character, which diverted a part of its capital from shipping into cotton-factories. Those
first constructed having been fairly remunerative, more were constructed, and other branches of manufacture were undertaken, unljil
NcA^ England was converted from maritime and commercial pursuits
into manufacturing. It will be recollected that New England was
opposed to the first protective tariff—that one of Mr. Webster's great
speeches was a free-trade speech.
•
I t w a s not many years after the first cotton-mills were erected in
New England that the great iron interests of the country began to fe
developed, and Pennsylvania soon became the great iron-manufacturing State of the Union. Nor was it long before various kinds of manufactures came into existence in most of the Northern and Western
States. The demands of the Government during the late civil war for
nearly all kinds of manufactured goods and the high tariff greatly
stimulated iiroduction. After the war, stimulus was found in railroad
building and in extravagant expenditures induced by superabundant
currency,, and the time has now come when the manufacturing industry of the United States is in dire distress from plethora of manufactured goods. Some manufacturing companies have been forced into
bankruptcy; others have closed their mills to escape it; few mills
are running on full time, and as a consequence a very large number of operatives are either depriA^ed of employment or are working for wages hardly sufficient to enable them to live comfortably or
even ^decently. Nor are manufacturers and their employes the only
sufferers by the present depression of our manufacturing industry. So
large and widespread has this industry become, so interwoven is it with
other industries, so essential is it to the welfare of the ^hole country,
that it cannot be seriously depressed Avithout injuriously affectingbusiness throughout the Union.
'
XII
REPORT OF THE SECRETARY OF THE TREASURY.
The all-important question, therefore, that presses itself upon thepublic attention is, hoAV shall the country be reliev:ed from the plethora
^ of manufactured goods, and how shall plethora hereafter be prevented'?
It is obvious^that our power to produce is much in excess of the present or any probable future demand fbr home consumption. The existing iron, cotton, and AA^oollen mills, if employed at their full capacity,
could meet in six months—perhaps in a shorter time—the home demand for a year. It is certain, therefore, that unless markets now
practically closed against us are opened; unless we can share in the
trade which is monopolized by European nations, the depression now
so severely felt will continue, and may become more disastrous.
The question hoAv shall our foreign trade be increased is the question which now comes to the front and demands prompt and careful
consideration. Manufacturers are primarily interested, but the whole
country has a stake in its solution. In its investigation the tariff will
necessarily be iiwolved, inasmuch as the relations between it and our
foreign trade are so close that they cannot be considered separately,
but it need not be involved except so far as it stands in the way of
international trade. If the duties upon raA^ materials are an obstruction, those duties should be removed. If the duties u]3on other articles are an obstruction, they should be modified. WhatcA^er may be
reqmred to increase our foreign trade, whether it be a repeal or modification of existing duties, should be demanded by the manufacturers
themselves. How, then, shall the information required for a full understanding of what stands in the way of an increased exportation of
oiir manufactured goods be obtained'? It may not be proper for me tb
offer adAdce on this point, but I cannot forbear to say that I can see no
better means than by the appointment of a Commission, composed
of men not wedded to the doctrines of free trade or protection—fairminded men, who would prosecute the inquiry thoroughly, compre-,
hensibly, and iinpartially. If such a Commission should be created,
it should be done Avithout unnecessary delay.
It is true that prcAdous Commissions have not accomplished all that
was expected of them. The cause of this partial failure it is not necessary to inquire into, but this failure^hould not prevent the apj)ointment of such a Commission as has been suggested, unless something
better can be devised. It is very clear that what is needed cannot be,
accom|)lished through the agency of the Committee on Ways and
Means. So A^ast in its comi^rehensiA^e reach is the question to be
investigated, and so complicated is it by the changing policy of other
nations, that this committee would lack the time required for its
REPORT OF THE SECRETARY OF THE TREASURY.
XIII
thorough investigation. Besides, the Committee on Ways and Means
is usually a]3pointed to sustain measures to which the party in control
in the House is ,pledged, rather than to" give to subjects referred to
it that impartial consideration which is ileeded for correct conclusions. Nor is the fact to be overlooked that even constituted as this
committee has been, and able as have been its members, there has
rarely, if ever, been a committee which so reflected the sentiments or
commanded the respect of the House as to be able to carry through
without important changes the bills which it had prepared.
It is, therefore, obvious that some other agency than the Comniittee
on Ways and Means must be. resorted to; in order that the House may
have the information absolutely needed for correct conclusions in regard to the nature of the obstructions in the Avay of an extension of our
foreign trade, and the best means of removing them. The labors of
a Commission, if properly performed, would be very great. Ample
time, therefore, should be allowed for their performance.
The .business of the whole Avorld has been revolutionized by steampower and the substitution of machinery for hand-work. If not
the inventor of the steam-engine, Great Britain took the lead in utilizing it in manufacturing, and she thus became the great workshop of
the world. For many years she had a monopoly of manufacturing.
The raw materials from nearly all nations were taken in her own ships
to her ports and returned in manufactured goods. It has been the
profit of this combination of manufactures and commerce Avhich has
made her the richest and most powerful of nations. NOAV, however,
all western nations are endeavoring to use their raw materials at home
and to encourage and sustain their manufactures by protective duties,
the effect of which has been general overproduction.
It is this great revolution caused by steam-power and machinery
and their general use that will make the labors of the Commission so
arduous. All the leading nations of the world are now engaged in
manufacturing, and all but Great Britain are fencing themselves in
by protective duties. Among them the United States has been conspicuous. Has not the time come when a new departure is demanded?
Cobden, one of the ablest and most farseeing of British statesmen,
predicted that the United States would in time not only become a
great manufacturing country, but would become a competitor with
Great Britain in the South American markets. In the.course of some
remarks upon the condition of British trade he said:
,
'' Members of the House of Commons and otliers are constantly crying out that there
is very great danger threatening this country from Russia, and they neglect to observe
that the great danger to the supremacy of the country is not in Russia, but in the competition of the United States of America."
XIV
REPORT OF THE SECRETARY OF THE TREASURY.
The Cobden Club is the channel through which the free-trade sentiments of Great Britain find expression, and yet, at a recent meeting
. of the club, the following language by one of the prominent members
of Parliament was cheered and applauded: '
"Many persons seem to think that the eifect of the reduction of the protective duties in America would be to enable us to flood .the United States Avith our productions.
For a short time probably it Avould give a stimulus to our trade, but in the long run
the effecj} of it would be to che^ipen American productions, and to increase the competition of America with us in other parts of the world. We should have to meet that
competition. . We should find the Americans very serious competitors, and we should
have in this country to throw aside many of the bonds which now fetter our industry.''
The present condition of our foreign trade is not as fully understood
by the public as it ought to be, or there would be greater uneasiness in
regard to what may be the result. Look, for instance, at our trade
relations with Brazil. We sold to Brazil last year various articles to
the amount of $8,645,261. We bought of her various kinds of her own
productions to the amount of $50,265,889, leaving $41,620,628 as the
balance against us. Now, hoAv is this large balance liquidated f Not
by gold, but by the sale of our farm products, for which there is a large
demand" in Europe. I t i s our cotton, our Avheat, our petroleum, our
beef and pork, Avhich can be produced more cheaply in the United
States than anyAvhere else, which create the sterling exchange that
enables us to carry on this one-sided trade with Brazil. Now, if by the
failure of our crops, or A^ery favorable seasons on the other side of the
Atlantic, or, what is more probable, by retaliation, our exports of these
articles should materially decline, Avhat then Ayould be the condition
of our Brazilian trade? Instead of depending upon the exports to
Europe ,for the means to cover the balance in favor of Brazil, ought
not an effort be made to equalize that trade by our manufactured
goods'? Ought we not to endeavor to verify the prediction of Cbbden
by becoming a competitor with Great Britain in the Brazilian markets'?
Ought not this to be attempted in the interest of our own manufacturers'?
Eeference is made to our trade with Brazil because it is much larger
than that with other South American States, but our trade with all of
them is pf the same one-sided and unsatisfactory character. Ought it so
to continue"? The South American States are our neighbors. With
the exception of Brazil, their institutions are moulded upon ours. They
would be glad to establish close trade relations Avith us, which could
not fail to be of mutual advantage; and yet so little intercourse have
we with them that supplies for our ships-of-war in South American
ports must be paid for in sterling exchange. Drafts on Japan could
REPORT OF THE SECRETARY OF THE TREASURY.
XV
be as easily negotiated in their ports as drafts on the Treasurer of the
United States. *
.
When the real condition of our foreign trade and the character of
the competition in which A^e must sooner'or later engage are fully
understood, it will be found that our inability to make that trade as
free as our best interests require, lies in the necessity which exists for
heavy import duties, which, although they may be levied for reveuue
only, must be in a' large degree protective.
It is upon such taxes, therefore, that our Government must mainly
rely for its large current expenditures and the reduction of the national
debt. Large revenues will be derived from the taxes upon whiskey
and tobacco, if the tax on the latter article should be retained, but our
chief revenue must be derived from import dutiCvS. To show how these
duties may be imposed and distributed as to neither imperil our manufactures nor obstruct our foreign trade, while the Treasury is kept in
auocasy condition, will be the task of the Commission. That the task
will be a very difficult one is certain; that it may be successfully performed ought to be certain also.
In competition with Great Britain in the South American markets.
Great Britain Avill have the advantage by being already in possession
of the trade, but this advantage Avill doubtless be counterbalanced by
the abundance and comparative cheapness of our agricultural productions. That we are to be a competitor Avith Great Britain in foreign
markets, especially in the markets of the South American States, is as
certain as anything in the future can be. The steps which may be
needful to make this competition successful it YHI be for Congress to,
determine after the Commission has performed its duty. To me it
seems certain that it cannot proiDcrly be done before.' A nation with
fifty-six millions of people, doubling every twenty-five years, a people
distinguished for enteri)rise and inventive power, in possession of a'
country of vast extent and rich beyond comparison in dcA^eloped and
undeveloped resources, ought not much longer to be prcA^ented from
having a full share in the honor and the gain of international trade.
In the commencement of" its Avork the Commission should; I think,
regard the following points as being settled:
First. That the public revenues are not to be in excess of what may
be required for the support of the Government, and the gradual reduction of the public debt. ,
Second. That our manufactures, which under the fostering care of
the Government have attained such gigantic proportions and whose
prosperity is essential to the welfare of all other interests, are not to
XVI
REPORT OF THE SECRETARY OF THE TREASURY.
be put in jeopardy by radical and sweeping changes in the tariff; and
that all reductions of imjDort duties should be made with a Adew to their
ultimate advantage by opening to them markets from which they are
now in a large degree excluded.
Something has been done, and more might be done, to increase our
foreign trade by reciprocal treaties, but the advantage to be derived
from such treaties would be restricted and i^artial; and there are A^ery
serious objections to treaties Avhich affect the public rcA^enues, on the
ground that they are an encroachment upon the rights of the House of
EepresentatiA-es, in which, under the Constitution, all rcA-enue bills
must originate.
As to the pei:sons who should constitute the Commission there will
be various opinions. It might be^ composed of persons who haA-e no connection Avith the Goverriment, or of Senators and Members ofthe House,
but I strongly incline to the opinion that it should he composed of Members of the House only, because, in the iiiA-estigation of the subject of
our foreign trade, questions affecting the public rcA-enues will necessarily be involved; and that members should be selected from those
who have been re-elected to the 49th Congress, in order that' its work
may be explained and defended by those who have performed it. It
would be advisable, also, that the Secretary of the Treasury should exofficio be a member of the Commission, in order that the views of the
Treasury Department and those of the Comniission may be in accord.
In the preceding remarks the tariff has been only indirectly referred
to. From this it must not be inferred that I am not in favor of a
reform of the tariff, but rather that the subjects of the tariff and foreign
trade are so intimately connected that they must, in my opinion, be
considered together. Have we not reached the stage when a policy
should be adopted which will embrace and harmonize the great interests
of the country?
If such a Commission as has been suggested had been appointed, and
its work could be performed at an early date, I should not be disj)Osed
to say anything bearing directly upon the tariff; but as relief from the
present burden of taxation is urgently and.justly demanded, I deem it
my duty to suggest that something in this direction should be done Avithout delay. Owing to the shortness of the time allowed to me for the
consideration of the subject, I am not prepared to name the articles
upon which duties should be removed or reduced. I should regret this
if Congress were not already in possession of the facts which should
govern its action. This much, however, it may be proper for me to
recommend:
,
"
R E P O R T OF T H E SECRETARY OF T H E TREASURY.
XVII
First That the existing duties upon raAv- materials which are to be
used in manufacture should be removed. This can be done in the interest of our foreign trade.
Second. That the duties upon the articles used or consumed by those
,who are the least able to bear the burden of taxation should be reduced.
This also can be effected without prejudice to our exi3ort trade.
In regard to our internal-revenue taxes, I have to say that, as these
taxes, with the exception of the tax upon whiskey, ought not to be and
will not be needed for revenue if appropriations are kept within reasonable bounds and rigid economy is established in all branches of the
public service, I see no good reason for their continuance. The tax upon
bank-note circulation I shall" refer to in my remarks upon national
banks./ Taxes upon agricultural productions, although indirectly
levied, are inconsistent Vith our general policy, and tobacco is the
only one of these productions which has been taxed. An article
which is so generally used, and which adds so much to the comfort of
the large numbers of our population who earn their living by manual
labor, cannot properly be considered a luxury, and as the collectionof
the tax is expensive and troublesome to the Government, and is especially obnoxious and irritative tb small manufacturers, the tax upon
tobacco should, in my judgment, be removed.
The tax upon whiskey could not be repealed without a disregard of
public sentiment, nor without creating a necessity for highe:^ duties
upon imported goods, but while this is true the tax upon the alcohol
used in manufacturing might be removed with decided benefit to home
ifidustry and foreign trade.
Under the provision^^, of section 3433, Eevised Statuties, as amended,
spirits used in the manufacture for export of certain enumerated articles
are freed from the tax bf 90 cents per gallon.. This law has greatly
increased the exportation of the articles therein nam'ed.
These articles, howe^fer, constitute but a very small portion of those
in the manufacture of which, alcohol is used, or in which it would be
used were it not for the tax thereon.
In Great l^ritain spirits have been used in manufactures free of tax
since the year 1856, the spirits having been previously mixed with
wood naphtha or ^ ^ iiiethylated.' ^
It is understood that spirits thus methylated are unfit to be used as a
beverage, while they remain uninjured for the general purposes of
manufacturing. It is suggested, therefore, that provision be made for
" the use of domestic methylated spirits, free of tax, as a measure tending
to encourage manufactures, both for home use and for exportation.
5022 F — - I I
XVIII
REPORT OF THE SECRETARY OF THE TREASURY.
The following table shows the value of merchandise imported into
the'United States from Brazil and exported from the United States to
Brazil during each year from 1864 to 1884:
Merchandise.
Exports.
Total
exports.
Y e a r e n d e d J u n e 30—
Doniestic.
$5,252,
6,485,
5,603,
4,964,
• 5,585,
5,779,
5,665,
5,942,
5, 852,
7,090,
7,560,
7, 631,
7,252,
7,498,
8,610,
8,106,
8,496,
9,138,
9,035,
9,159,
8,645,
1864,
1865
1866
1867
1868
1869,
1870.
1871.
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
Total imports a n d
exports.
Imports.
Foreign
$102,368
94,289
88,042
135,079
109,839
87,245
109,225
71,317
60,592
106,735
141,654
110,494
94,162
' 83,695
76,058
87,442
108,650
113,778
117,110
92,764
50,398
$5,354,755
6,580,161
5,691, 659
5,099,387
- 5,695,404
5,866,604
5,774,323
6,013,733
5,912,783
7,197,722
7,702,156
7,742,359
7,346,380
7,581,813
8, 686,704
8,194,370
8, 605,346
9,252,415
9,152,562
9,252,094
8,695,659
$14,388,899
9,784,312
16,816,803
19,100,300
23,595,740
24,837,403
25,161,219
.30,551,215
30,122,384
38,540,376
43,888,647
42,027,863
45,446,381
43,498,041
42,968,973
39,375,441
51,970,090
52,782,536
48,801,878
44,488,4.59
50,265,889
$19,743,654
16,364,473
22; 508,462
24,199,687
29,291,144
30,704,007
30,935,542
36,564,948
36,035,167
45,738,098
51,590,803
49,770,222
52,792,761
51,099,854
51,655,677
47,569,811
60,595,436
62,034,951
57,954,440
53,740,553'
58,961,548
The, following are the principal articles of merchandise exported
from the United States to Brazil and imported into the United States
from Brazil during the year ended June 30, 1884;
Articles exported from the United States to Brazil.
AVheat flour
I r o n a n d s t e e l , m a n u f a c t u r e s of;
C o t t o n , m a n u f a c t u r e s of
bils, m i n e r a l , refined or m a n u f a c t u r e d
Provisions, comprising meat and dairy products
AVood, m a n u f a c t u r e s of
Carriages a n d railroad a n d horse cars
Vessels, s t e a m a n d sailing
Chemicals, drugs, dyes, a n d medicines
Soap.
All o t h e r articles
$3,845,224
932,673
650,568
567,800
' 497,018
394,109
298,983
219,400
133,923
133,864
971,699
Total
8,645,261
Articles imported into the United States from Brazil.
Quantities.
Values.
pounds..
pounds...
pounds...
347,373,001
363,385,001
11,950,643
pounds...
1,837,637
$30,021,573
10,9,86,870
7,246,828
1,034,029
.224,977
172,769
167,325
160 039
251, 479
O
1
2
3
5
6
7 •
s
Ooffee
S u g a r , b r o w n , a n d s i r u p s , m e l a d a , &c
India-rubber and gutta-percha, crude
Hides a n d skins, other t h a n fur-skins
Cocoa, or cacao, c r u d e
Hair
AVood u n m a n u f a c t u r e d . . . ;
Fruits and nuts
All o t h e r articles
;
Total
1
50,; 265,889
REPORT OF THE SECRETARY OF THE TREASURY.
XIX
Products of agriculture and prodiicts of manufacture.
Of the total value of our exports of merchandise to Brazil, amounting
during the last fiscal year to $8,645,261, the A-alue of manufactured
articles was$4,143,008; of agricultural products, $4,434,702; and of all
other articles, $67,551.
Almost the entire imports of merchandise from Brazil into the United
States consisted of products of agriculture, including among such products, india-rubber and gutta-percha, crude; hair; fruits, and nuts.
O f t h e total imports, coffee constituted 59.7 per cent., and sugar,
sirups, and melada, 21.9 per cent.
The commerce of the United States with all the South American
States during the last sixteen years has been as follows :
Expbrts.
Imports.
Total imports a n d
exports.
Countries.
U n i t e d S t a t e s of C o l o m b i a .
Venezuela...,
«
l^ritish G u i a n a
Dutch Guiana
FreJich G u i a n a
Brazil
Uruguay
Argentine Republic
Chili
Peru
All other South American..
Total
/
'.
1868.
1884.
1868.
$3,711,796
961,262
1,945,568
465,523
36,.986
5,695,404
821,006
2,732,600
1,580,999
1,666,355
;
8,264
$6,381,821
2,427,961
1,884,416
319,475
103, 607
8,695,659
1,368,418
5,074,593
3,270,562
1,070,528
629,894
$2,538,297
2,368,977
2,364,682
422,581
15,477
23,595,740
1,179,520
4,806,299
951,767
1,765,397
2,366
$3,891,843
6,674,041
4,095,536
623,118
2,321
50,265,889
2,128,981
4,110,038
537,936
2,077,645
1,346,612
$6,250,093
3,330,239
4,310,250
888,104
52,463
29,291,144
2,000,526
7,538,899
2,532,766
3,431,752
10,630
$10,273,664
9,102,002
5,979,952
942,593
105,928
58,961,548
3,497,399
9,184,631
3,808,498
3,14S, 173
1,976,506
19,625,763
31,226,934
40,Oil, 103
75,753,960
59,636,866
106,980,894
1884.
The total value of the imports and exports of merchandise during
the year ended June 30, 1884, amounted to $1,408,211,302, as against
$1,547,020,316 during the preceding fiscal year, showing a decrease of
$138,809,014.
The value of the exports of domestic merchandise amounted to
$724,964,852, as against $804,223,632 during the preceding fiscal year,
showing a decrease of $79,258,780; and the valueof the imports of
merchandise amounted to $667,697,693, as against $723,180,914 during
the preceding fiscal year, showing a decrease of $55,483,221.
The total value of the exports of merchandise of both domestic and
foreign production exceeded the total value of the imports of merchandise $72,815,916, as against an excess of $100,658,488 in the value of
such exports during the preceding fiscal year.
The exports of specie from the United States during the last fiscal
year amounted to $67,133,383, as against $31,820,333 during the preceding fiscal year; and the imports of specie amounted to $37,426,262,
as against $28,489,391 during the preceding fiscal year. The excess
XX
REPORT OF THE SECRETARY OF THE TREASURY.
of exports of specie over the imports thereof amounted to $29,707,121,
as against an excess, of $3,330,942 in such exports during the preceding fiscal year: ;
EXPORTS.
The value of exports from the United States to foreign countries,
during the year ended June 30, 1884, was as follows:
Domestic merchandise
$724,964,852
Foreign merchandise.....
15,548, 757
Total nierchandise.
Specie.
;
!
. Total exports of merchandise and specie..-.
740,513,609
67,133,383
807, 646,992
During the last fiscal year the value of our exports of cotton and
manufactures :of cotton was $208,900,415 ; of breadstuffs, $162,544,715;
of provisions, $114,416,547; andof mineral oils, $47,103,248. These
commodities and classes of commodities constituted nearly 74 per cent.
V of our entire exports X)f merchandise.
The value of our exports of products of agriculture, of .manufacture,
of mining, of the forest, of the fisheries, and of gold and silver coin
and bullion during the years ended June 30, 1883 and 1884, were as
follows:.
Y e a r e n d e d J u n e 30—
1884.
P r o d u c t s of a g r i c u l t u r e
P r o d u c t s of m a n u f a c t u r e
.''.^,
P r o d u c t s of m i n i n g , i n c l u d i n g p e t r o l e u m
P r o d u c t s of t h e f o r e s t
P r o d u c t s of t h e fisheries....!
Other products
Gold a n d silver cpin a n d bullion
Total
'.
$619,269,449
11.1,890,001
51,444,857
9,976,143
6,276,375
5,366,807
21,623,181
$536,315,318
111,330,242
56,822,529
9,465,330
, 5,&14,111
5,417,322
50,225,635
825,846,813
775,190,487
Our expbrts of products of agriculture consisted chiefly of cotton,
animals, breadstuffs, and provisions. Our exports of irouj of wood, of
cotton, and of leather were the chief articles of manufacture exported.
Our exports of products of mining consisted chiefly of mineral oils,
coal, and copper ore.
Our exports of products of the forest consisted chiefly of wood and
timber and naval stores.
Our exports of the products of the fisheries consisted mainly of fish^
fish-oils, and whalebone.
REPORT OF THE SECRETARY OF THE TREASURY.
XXI
< IMPORTS.
The imports into the United States during the last fiscal year were
as follows:
>
Merchandise
Goldandsilver
$667,697,693
37,426,262
Total..
705,123,955
The principal articles imported, with their A-alue, were as follows:
Sugar and molasses; $103,884,274; wool, and manufactures of wool,
$53,542,292; silk, and manufactures of silk, $49,949,128; coffee,
$49,686,705; iron and steel, and manufactures thereof, $41,464,599;
chemicals, $38,464,965; flax, hemp, jute, and like vegetable substances, and manufactures thereof, $33,463,398; cotton, and manufactures of cotton, $30,454,476; and hides and skins, other than fur-skins,
$22,350,906.
The total value of manufactured and of unmanufactured articles of
merchandise imported into the United States during the last fiscal year
was as follows:
\
Unmanufactured
Manufactured
$235,775,932
431,921,761
Total
667,697,693
The value of imports during the three months erided September 30,
,1883, was $166,735,075, and forthe three months ended September 30,
1884, $157,083,995, showing a falling off of $9,651,080.
The value of the exports of merchandise from the United States during the three months ended September 30, 1883, was $168,782,085, as
against $161,649,105, during the three months endied September 30,
1884, showing a falling off of $7,132,980. •
OUR SHIPPING INTEREST.
In direct connection with the condition of our foreign trade is the"
(gondition of our merchant service. The causes of the decline of our shipping are so well understood that any remarks on this point are quite unnecessary. The humiliating fact stares us in the face that Avhile the
United States not many years ago led all nations in ship-building,
and was second only to Great Britain in ocean tonnage, it has almost
ceased to be recognized as a maritime power; that nearly all of our
agricultural productions and manufactured goods which find a market
in Europe or South America and the articles received in exchange
XXII
REPORT OF THE SECRETARY OF THE TREASURY.
for them are carried in foreign ships; that the many thousands of
Americans who annually visit Europe on ^ business or for pleasure go
and come in European steamers; that large foreign steamship lines are
in fact supported by the peoi3le of the United States. All this is not
only humiliating to our national pride, but it stands in the way of the
improvement of our foreign trade. In his report to Congress under
date of the 3d of December, 1866, the Secretary used the following
language:
I
" I t is a AA^ell-established general fact that the people who build ships naAdgate them,
and that a nation which, ceases to build ships ceases, of consequence, to be a commercial
and maritime nation. Unless, therefore, the causes which xirevent the building of ships
in the United States shall cease, the foreign carrying-trade even of its OAA^U productions,
must be yielded to other nations. To this humiliation and loss the people of the United
States ought not to be subjected. If other branches of industry are to prosper, if agriculture is to be profitable, and manufactures are to be extended, the commerce ofthe country
must be restored, sustained, and increased. The United States Avill not be a first-classpower among the nations, nor Avill her other industrial interests continue long to prosper as they ought,' if her commerce shall be permitted to languish.''
If this language was true then, it is certainly true now. Eighteen
years have passed since it Avas uttered. There has been in the mean
time an enormous increase of our poi^ulation and national wealth, but no
improvement Avhatever in our foreign shipping interest. Not only does^
this important interest remain well-nigh lifeless, but the difficulties in
the way of restoring its Adtality have been greatly increased by the immense capital; since then invested by foreign steamship companies,
which control and practically monopolize the carrying-trade betAveen
this and other countries, and these difficulties,will become every year
more and more formidable until remedial measures are adopted by
Congress. When the nature of the obstructions in the way of a revival
of our shipping is fully investigated, the cost of building ships in the
United States Vill not, I think, be found to be a serious one. I am convinced that if the duties upon the foreign materials used in the construction and outfit of iron ships were remoA^ed, they could be built
and fitted for sea as cheaply in the United States as in Scotland.
Manual labor, it is true, is much cheaper in Scotland, but it is lessefficient. Besides, most of the work in iron-ship building is done
by .machinery,; in the iiiA^ention and use of which Americans excel.
Scores of things are done in Glasgow ship-yards by hand which in
the United States Avould be done by machinery.
Fifty years ago the United States excelled all nations in ship-building. Not only were we able to supply the home demand, but large numbers of ships were 'built for foreigners in the ship-yards, which lined
the coast from Delaware Bay to Eastport. Our superiority in shipbuilding then was owing to the facts that our forests abounded in
REPORT OF THE SECRETARY OF THE. TREASURY.
XXIII
timber of the best qualities, and that our carpenters Avere skilful in
the use of it. Since then iron has been substituted for wood in the
construction of steamships. But are not our iron and coal fields as productiA^e and accessible as those of any other country'? Are our
machinists less skilled in the use of machinery than were our shipcarpenters in the use of the axe and the saAv *? As far as materials for
building ships and skill in the use of those materials are regarded.
Great Britain has no advantage over us; on the contrary, is not the
advantage on our side*? Apprehended difficulties are magnified until
they are encountered. When steel rails were in demand beyond the
home supply at $75 per ton, and many were imported, subject to a duty
of $28 i^er ton, Avho Avould have dared to express the opinion that in
four years they could be made in this country at less than $30 per ton,
with a profit to the makers'?
"The obstacles in the way of a restoration of our foreign shipping will
not, I conceiAre, be found in the cost of ships Avhich are to be built ^n
the United States, but in the absence of demand for them. If our navigation laws were so modified that American registers could be granted
to foreign-built ships for foreign trade, there Avould be little, if any,
improvement in our shipi^ing interest. Such modification some years
ago might h^ve done something to prevent decline; it would noAv be insufficient to restore. The great and'profitable carrying-trade betAveen
the United States and Europe has been permitted to pass into the hands
of the shii3-owners of other nations, So complete is their control of it,
so large is the capital iiiA^ested in it, and so sharp and persistent would
be the contest if we should attempt, without Government aid, to share
in it, that our capitalists would not compete for it. There is, in my
opinion, no prospect Avhatever that the United State.s will CA^er share
to a considerable extent in the foreign carrying-trade Avithout GoA^ernment aid. It is for Congress to determine Avhether this aid shall be
granted, or Avhether our foreign shipping interest shall remain in its
present death-like condition. The let-alone policy has been tried for
many years, during Avhich our ships have been swept from the ocean,
and we pay every year many millions of dollars to foreign ship-owners
for freights and fares. Ought this condition of things to be continued f
Entertaining these AHCAVS, I do not hesitate to express the opiuion—
Fi7^st. That without Government aid to United States steamship lines
the foreign carrying-trade will remain in the hands of foreigners.
Second. That as we ought to have an interest in the business Avhich
we create, and as the restoration of our shipping interest is important,
if not essential, to the extension of our foreign trade, subsidies in the
XXIY
REPORT OF THE SECRETARY OF THE TREASURY.
form of liberal payments for the transportation of mails or in some other
form should be offered as an inducement to investments of capital in
steamships. ^
.
The amount of necessary aid would be insignificant in comparison
with what ha^ been granted to manufacturers by protective duties,
and nothing would be paid until the services were rendered. If the
subject were invelstigated, it would be found that all the European
steamship lines that led the way in .the great traffic by steam-power
have received government aid. It is admitted that all protective duties
and vsubsidies are inconsistent with the teachings of political economy,
but, true as these teachings may be in the abstract, they are disregarded
by all nations when they stand in the Avay of national welfare. No
rules are equally applicable to.all nations, nor to the same nation in
the different stages of its growth. Political economy is not one of the
exact sciences. It is rather adaptive than exact, and all nations so
regard it.
,
> ProtectiA^e duties Avere undoubtedly needed to induce investment in
cotton, iron, and woollen mills,' and^what not, in the various lilies of our
manufacturing industry. Whether or not protection has been extended
too long or too far,; and to what extent it now stands in the way of other
great interests, are questions that cah only be settled by full investigation. Government aid is now needed to induce investment i n shipping. To Avhat extent and for Avhat period this aid should be granted
must be settled in (the same way.
It is to be regretted that the United States is not in a condition to
participate in the trade Avhich is soon to be opened with thednterior of
Africa.
,
The attention of Gongress is asked to the following table and statements, which exhibit the present condition of our shipping interest,
and which refer to the relief alrea-dy obtained by recent legislation,
and to the further relief whieh is required aside from the question of
subsidies:
;
'
Tonnage of vessels of American otvnershif}.
The tonnage of vessels owned in the United States at the close of
the fiscal year 1884, according to the records of the Bureau of Navigation, was 4,271,228.76 tons. Of this amount, 1,304,220.67 tons were
in 2,127 vessels registered for the foreign trade, and 2,967,008.09 in
22,055 vessels enrolled and licensed for the coasting trade and fisheries. There was an increase of 2,126 tons in vessels in the foreign
trade, and 33,616 tons in domestic trade. The following table shows
REPORT OF.THE SECRETARY OF THE TREASURY.
XXV
t;he number and tonnage of vessels built and documented during the
last fiscal year:
Tonnage.
Number.
Kinds.
Gro.ss.
Sailing-vessels
Steam-vessels
Canal-boats
Earges
706
410
33
41
'.
Net.
120,620.88
91,327.47
3,456.43,
10,709.22
114,667.82
68,095.93
3,264.18
9,834.53
225,514.00
195 862 46
1
Total
^
r, 190
'
Distribution of carrying-trade.
Of the merchandise imported at seaboard, lake, and river ports
during the fiscal year 1884, an amount equal in value to $152,201,729
was imported in American vessels, and in value to^ $526,379,213 in
foreign vessels. The merchandise exported in American vessels had
a value of $112,520,723, and the merchandise exported in foreign vessels was valued at $667,739,372. Of the combined iniports and exports
of merchandise, about 17 J per cent, was conveyed in American vessels,
and about 824 per cent, in foreign vessels.
Under the act of June 5, 1884, and the provisions of the shipping
bill .of June 26, 1884, a Bureau of Navigation has been established in
this Department. The employes thereof, with the exception of the"
Oom^missioher, haA^e been detailed from other offices. There have been
assigned to the bureau the duties relating to navigation hitherto performed in the office of the Eegister of the Treasury, the Bureau of
statistics, and of the Secretary; the administration of the provisions
of the act of June 26, cited aboA^e, relating to the preparation of an
annual list of merchant vessels of the United States; the discharge
of seamen abroad ; the payment to them of extra wages; the survey
of ships; the collection of tonnage-tax; and the entry of vessels into
ports subject to quarantine; also, cases arising under the provisions
of Titles XXXIY, XLVIII, and LYIII, Eevised Statutes, and other
laws concerning navigation and statements of tonnage; the documentin g of vessels, the naming of them, and granting them official numbers and signal letters; their entry clearance, and movements; the
issue a i d preservation of marine documents; and also the administration of the provisions of Title LIII, Eevised Statutes, and of the
shipping act, relating to the shipment of seamen and the government
o f the shixiping offices at the various ports of the United States. The
h ureau is now in successful o]Deration, and the consolidation- therein
XXVI
REPORT OF THE SECRETARY OF THE TREASURY.
ofthe duties formerly incongruously distributed among several divisions
of the Treasury Department prevents some confusion and duj)licatioii
of work, which could not be avoided under the old system, and tends ta
economy and efficiency.
While the proAdsions of the new shipping act changing the tonnagetax on vessels, so that a portion only of the former^ tax need be paid
on any one entry, will materially reduce the entire amount of tax collected, they Avill give needed relief to sailing-vessels, which formerly
were required to pay as much per ton on a single entry within a year
as wa^ paid by steam-A^essels on the many entries they sometimes made
within that time.
The proAdsions of section 27 of the shipping act of 1884 fprbidding'^
the payment of adA^ance wages to seamen have led to much opposition
from keepers of sailors^ boarding-houses, and so called runners, whose
business has been injuriously affected, and the law has been enforced
with some difficulty. It is understood, however, that ships have generally been able to obtain crews, and that the repeal of the laAV is not
required by the necessities of commerce. A similar law exists in
Great Britain. That, in both countries, it is sometimes evaded is unquestionable. I am not prepared to say that a modification of the
statute so as to allow a half month's advance might not, in some cases,.
be beneficial to the seaman.
Complaint has been made that the compensation allowed to masters^
of vessels by section ,12 of the act of June 26, 1884, for bringing homedestitute American seamen, is inadequate. The section allows not
exceeding $10 for a voyage of thirty days, and $20 for a longer voyage;
but if the men are so disabled or sick as to be unable to perform duty,
additional compensation may be allowed by the First'^Comptroller of
the Treasury.
By the reduction of tonnage-dues, relief from the necessity of carrying mails, the abolition of the system of extra Avages to seamen, except
in certain cases, the removal of consular fees for serAdces to vessels^
and to seamen, the repeal of the laws imposing marine-hospital tax,
the right to withdraw sui^plies for, and material for the building and
repairing of, vessels free of duties, the limitation of the liability of
ship-owners, the right to ship seamen for stated periods, or for
foreign ports, and the right to deliver cargo, in certain instances, at<
places not ports^—all of which privileges and benefits have been conferred by recent legislation—the burdens of ship-builders, and of persons interested in shipping, haA^e been somewhat lightened, and oup
navigation has been placed, as regards the expense of carrying it on,
REPORT OF THE SECRETARY OF THE TREASURY.
XXVII
more on a footing with that of foreign countries. Other ahtiquated restrictions on our maritime commerce, such as the division of the Atlantic cpast into two great coasting districts, and the limitations as to the
quantity of duty-paid cargo which may be carried in coasting vessels,
might well be abolished. Matters of pilotage should be regulated by
Congress, in such a manner that the system shall be uniform. At
present each seaboard State has its separate rules, which, in some
cases, are burdensome to commerce.
In this connection, the imi^ortance of a fleet of vessels engaged in
commerce iii time of peace as a training-school for sailors, and as a
preparation for Avar by their easy couA^ersion into armed cruisers or^
transport vessels, should not be overlooked. So much imxiortance
was formerly attached to this idea that Congress for a long series of
years appropriated a bounty to vessels engaged in the fisheries, for the
express iDurpose of encouraging shix^-building and the training of seamen, and in the late civil Avar immense advantage to the GoA^ernment
was derived from the ready enlistment in the Navy of seamen trained
in the merchant serAdce.
'
Great Britain, with her two hundred thousand merchant seamen and
her immense fleet engaged in the transportation of merchandise and
passengers in all quarts of the world, may serve our country in this
view, both as a warning and as an examx:)le.
THE PUBLIC DEBT AND THE CONDITION OF THE TREASURY.
It is in the highest degree gratifying to the Secretary to notice the
great reduction of the public debt since it reached its highest point in
August, 1865, and its continued reduction since his last report, in
1868. The following table exhibits the reduction both of principal and
interest:
On August 31, 1865, the indebtedness of the United States, not including bonds issued to Pacific Eailroad Companies, Avas as follows:
Debt bearing coin interest
Debt bearing currency interest
,
Matured debt not presented for payment
Debt bearing no interest
Cash in the Treasury
Amount of debt less cash in the Treasury
$1,108, 310,191
1,273,220,103
.
1, 503, 020
461,616,311
80
16
09
51
2,844,649,626 56
88,218,055 13
2, 756, 431, 571 43
XXVIII REPORT OF THE SECRETARY- OF THE TREASURY.
The annual interest charge was $150,977,697.87, and the aA-erage
rate paid was 6-1^0-0 P^i" cent.
On November 1, 1868, the indebtedness of the United States, not
including bonds issued to the Pacific Eailroad Comx3anies, was as follows :
Debt bearing coin interest
Debt bearing currency interest
Matured debt not presented for payment
Debt bearing no interest
.
^
Cash in the Treasury
$2,107,577,950
-72, 325, 000
9, 753, 723
'
409,151, 898
.'
00
00
64
42
2,598,808,572 06
113,873,019 24
Amount of debt less cash in the Treasury..,..
2,484, 935, 552 82
The annual interest charge Avas $126,408,343, and the average rate
paid was 5/o- P^r cent.
On NoA^ember 1, 1884, the public debt was as follows: ^
Debt bearing interest..
'...
$1,206,475,600 00
Debt on which interest has ceased since maturity...
12, 547,485 26
Debt bearing no interest
:
623,468,436 36
Cash in the Treasury
Net debt
:
•
1, 842, 491, 521 62
434,008,572 93
1,408,482,948 69
The annual interest charge is now $47,323,831.50, and the average
rate paid 3-i-^o,per cent..
Eeduction
Eeduction
Eeduction
Eeduction
'
of
of
of
of
debt in sixteen years
annual interest charge .... .^
debt in nineteen years.
annual interest charge
$1,076,452,604 13
79, 084, 511 50
1, 347, 948, 622 74
103, 653, ^%Q 37
In the management of its debt the United States has been an example
to the world. Nothing has so much surprised European statesmen as the
fact that immediately after the termination of one of the most expensive
and, in some respects, exhaustive wars that have ever been carried on,
the United States should have commenced the payment of its debt
and continued its reduction through all reverses until nearly one-half
REPORT OF THE SECRETARY OF THE TREASURY.
XXIX
of it has been paid; that reduction in the rate of interest has kex3t pace
with the reduction of the principal; that withiii a period of nineteen
years the debt, which it was feared would be a heavy and never-ending
burden upon the people, has been so managed as to be no longer burdensome. It is true that all this has been effected by heavy taxes,
but it is also true that these taxes have neither checked enterprise nor
retarded growth. While, however, the public debt is in this satisfactory condition, there are some financial dangers ahead which pan
only be avoided by changes in our financial legislation. The most
imminent of these dangers, and the only one to which I now ask the
attention of Congress, arises from the continued coinage of sih-er and
the increasing representation of it by silver certificates. I believe that
the world is not in a condition, and ncA^er will be, for the demonetization
of one-third of its metallic money; that both gold and silver are absolutely necessary for a circulating medium; and that neither can be
disused without materially increasing the burden of debt, nor even
temporarily degraded by artificial means without injurious effects upon
home and international trade. But I also believe that gold and silver can only be made to maintain their comparative value by the joint
action of commercial nations. Not only is there now no joint action
taken by these nations to place and keep silver on an equality with
gold, according to existing standards, but it has been by the treatment
it has received from European nations greatly lessened in commercial
value.
For many years the silver dollar was more valuable than the gold
dollar in the United States, and although there Avere fluctuations in
their comparative value, the advantages arising from their joint use
much more than counterbalanced the inconvenience and loss occasioned by these fluctuations. Yarious causes in combination have
produced the present depression of silver, but the main causes have
been the inconsiderate' action of Germany in, demonetizing it and
throwing upon the market the large amourit, which, up to that time, had
constituted her metallic currency, and the restrictions upon its coinage
by other European nations.
In 1872 the silver dollar, as it had been for a long period, was more
valuable than the gold dollar. In 1874 the decline commenced, and it
has been continued until the silver dollar is worth .only about 85 cents in
gold, and further depreciation is prevented by its having been made
receivable by the United States for all public dues and the coinage at
the rate of $28,000,000 a year. We now hold $147,573,221.89 in silver.
The amount is so large as to become burdensome, and additional vaults
xxx
REPORT OF THE SECRETARY OF THE TREASURY.
must be soon, constructed if the coinage is to be continued. But this
is a matter of small importance compared with the danger to which
the national credit and the business of the country are exx)Osed by the
large amount of silver in the Treasury, which must be inc^^eased by
further coinage, and especially by the issue of silver certificates. These
certificates amount to $131,556,531, and they may be increased to
$184,730,829 by the silver against which certificates haA^e not been
issued. Like silver, they are only prevented from great dex^reciation by being receivable for all public dues, in Avhich respect they
have an advantage over the United States notes, which are not by law
receivable for customs duties; but although they are thus prevented
from depreciation, the fact exists that a large part of our paper currency based on coin is worth only about 85 cents on the dollar. But
this is not all; the certificates, being receivable for duties, x^icvent
gold from coming into the Treasury.
The Treasurer, in his report, after referring to the fact that the
Treasury is a member of the New York Clearing-House, and to the
act of Congress of July, 1882, which prohibits banking associations
from being members of any clearing-house in which silver certificates
are not receivable for clearing-house balances, and the resolutionof
the associated banks nominally complying with that act, remarks:
' ' Notwithstanding this formal declaration of compliance Avith law, neither standard
silver dollars nor silver certificates have been or are now offered in settlement of balances at the cleariug-house, and the Treasury has refrained from taking any steps to
enforce the receipt of either of these descriptions of funds, which have therefore not
heen used in payment of obligations presented through the clearing-house.
*
-X-
-Sf
-X-
^
-X-
^
''As a consequence of the inability of the Treasury, under the existing practice, to
use either the silver dollars or the silver certificates in its settlements with the New
York Clearing-House, where by far the greater part of its disbursements is made, the
available gold ran doAvn from $155,429,600, on January 1, 1884, to $116,479,979, on
August 12, 1884, while the silver dollars and bullion on hand not represented by
silver certificates outstanding increased during the same period from $27,266,037 to
$48,603,958.
. " As a temporary expedient to stop this drain of gold from the Treasury, the assistant treasurer at New York was directed to use in payments to the clearing-house
United States notes to the extent of One-half of the payments. But the aijiount of
these notes in the Treasury, which at the time of the commencement of this mode of
payment had accumulated beyond its needs, has now become so much reduced that
they are no longer available for such payments to any considerable extent.
" I f a return to the former practice of making payments entirely in gold or gold certificates shall result in a continuous loss of gold to the Treasury, not made up to a
sufficient extent by receipts of gold from other sources, the question must soon arise
REPORT OF THE SECRETARY OF THE TREASURY.
XXXI
for the decision of the Department as to whether it will continue to make in gold or its
representative the payments now made through the clearing-house, or use in its pay-.
ments the sih^eir dollars or their representative certificates in some proportion to the relation which silAxr dollars in the Treasury, not held for certificates outstanding, bear to
the available assets, and to an extent similar to that in Avliich they are used at other
offices of the Treasury.
" I n ascertaining what this prpiDOrtion is, it is to be considered that of the $134,670,790
in gold coin and bullion now owned by the Governmeiit, $95,500,000 was obtained by
the sale of bonds under the resumption act.
,
" I f it be held that this amount is available for no other purpose than the redemption of United States notes, the gold which may be used for ordinary payments is
$39,170,790,^ compared with $46,831,660 in silver dollars, including bullion available
for the same purposes.
"Or, if it be held that the provision in section 12 of the act of July 12, 1882, suspending the issue of gold certificates whenever the amount of the gold coin and bullion in the Treasury reserved for the redemption of United 'States notes falls below
$100,000,000, is by implication a requirement that this sum shall be held for the redemption of notes, then the balance of gold which may be used for ordinary payments
is $34,670,790."
It is evident, from these extracts, and it will be rendered still more
evident by an examination of the entire report, that sih-er certificates
are taking the xilace of gold, and that a panic or an adverse current of
exchange might compel the use in ordinary payments by the Treasury
of the gold held for the redemption of the United States notes, or the
use of silver or silver certificates in the payment of its gold obligations. As $95,500,000 of the gold in the Treasury was obtained by the
sale of bonds for resumption purposes, it was doubtless the intention
of the eminent gentleman under whose administration of the Treasury
specie payments were resumed that at least this sum should be held in
reserve for the redemption of United States notes, and not used for any
other purpose. It is understood that he went further than this, and
very properly entertained the opinion that an amount of gold equal to
40 per cent, of the outstanding United States notes should be held for
their protection.
A government which engages in banking by furnishing a paper
circulating medium must be governed by the rules which prcA^^ail with
X3rudent bankers, and be constantly prepared to meet such calls as
may be made ux3on it.
'
Many persons regard legal-tender notes as being money, ^ and hold
that no means should be provided for their redemption. That this is
a delusion will be proven whenever there is a large demand for gold
for export. They are not money, but merely promises to pay it, and
the Government must be prepared to redeem all that may be x)resented
or forfeit its character for solvency.
XXXII
REPORT OF THE SECRETARY OF THE TREASURY.
The following is an analysis of the statement of the liabilities and
assets of the Treasury of the United States, October 31, 1884:
Total assets.
Liabilities.
Available
assets.
:$222,536,360 43
32,477,750 00
Gold coin and bullion..
Gold certificates
'.
255,014,110 43
Less gold certificates outstanding..
standard silver dollars and silver bullion..
Silver certificates
$120,3^13,320 00
$134,670,790 4S
147,573,221 89
30,814,970 00
178,388,191 89
Less silver certificates outstanding
United States notes
=
Certificates of deposit, (act of J u n e
1872)*.!
Less'certificates of deposit outstanding..
National-bank notes
,
Deposits in national-bank depositaries ..
Total
The liabilities chargeable against the available assets were—
For matured debt and interest
Por Post-Office Departnient account
For disbursing-officers' balances and other
small accounts
For funds held for redemption of national-bank
notes, &c.'
For outstanding drafts and checks
131,556,531 00
3,942,171 85
85,000 00
34,027,171 85
17,855,000 00
10,171,655 48
15,742,439 63
493,343,569 28
269,754,851 00
46,831,660 89
16,172,171 85
10,171,655 48
15,742,439 63
223,588,718 28
211,420 30
714,015 24
26,622,292 53
345,429 69
205,799 71
105,098,957 47
Total..
Leaving a cash balance availal;>le of..
Add assets not available for payments—
Fractional silver coin
,.
Fractional currency and minor coin....
Paid obligations held in the cash
493,343,569 28' 374,853,808 47
118,489,760 81
29,346,757 24
817,888 44
387,895 14
30,552,540 82
Cash balance, as per debt statement
Add "unavailable funds," Treasurer's statement..
Balance, including bullion fund, Treasurer's
statement
Total assets and liabilities..
149,042,301 63
694,710 31
149,737,011 94
523,896,110 10
374,853,808 47
From this statement it is seen that there is no surplus gold iii the
Treasury, and that the reserve has been trenched ux3on; that there is
no plethora of any kind except of sih-er dollars, for which there is no
demand.
After giving the subject careful consideration, I have been forced to
the.conclusion that unless both the coinage of silver dollars and the issue
of silver certificates are suspended, there is danger that silver, arid
not gold, may become our metallic standard. This danger may not be
imminent, but it is of so serious a character that there ought riot to be
delay in providing against it. Not only would the national credit be
seriously impaired if the Government should be under the necessity of
' using silver dollars or certificates in payment of gold obligations, but
business of all kinds would be greatly disturbed; not only so, but gold
REPORT OF THE SECRETARY OF THE TREASURY. XXXIII
would at once cease to be a circulating medium,^ and scA^ere contraction
would be the result.
The United States is one of the most powerful of nations—its, credit
is high, its resources limitless; but it cannot prcA^^ent a depreciation of
silver unless its efforts are aided by leading nations of EuroxDC, If the
coinage of silver is continued in desx^ite of the action of Germany in
demonetizing it and the limitation of its coinage by what are knoAvn as
the Latin nations, there can be but one result: silver will x^iactically
become the standard of value. Our mines xDroduce large amounts of
sih-er, and it is important, therefore, that there should be a good demand for it at remunerative prices for the outlays in obtaining it.
The suspension of its coinage might depress the market xirice of silver
for a time, but the ultimate effect would doubtless be to enhance it.'
The metal which oriental nations and some western nations use exclusively for coin—and all nations to some extent—which costs, in
the labor and capital required to extract it from the mines, more
than its standard value as coin, cannot be xiermanently degraded by
artificial means. The xiroduction of gold is diminishing, that of silver
has practically reached its maximum, and there are strong indications
that from this time the yield of both gold and silver mines will speedily
decline. At the same time the demand for both for coinage and in
manufactures will increase. The A^ery necessities of the commercial
world will prevent a general and continued disuse of either as money.
The European nations which hold large amounts of silver must sooner
or later come to its rescue, and the susx3ension of coinage in the United
States would do much to bring about, on their x^art, action in its favor.
But whatcA^er might be the effect of the susxiension of the coinage upon
the commercial value of silver, it is very clear that the coinage cannot
be continued without detriment to general business and danger to the
national credit.
The coinage of silver dollars under the act of February 28,1878, has
now reached the very large amount of $184,730,829, being an increase
of $28,009,880 for the year ending November 1, 1884. The amount of
these dollars in actual circulation is $41,326,736. The increase in the
circulation for the year has only been $1,260,346, against an increase
of $4,136,321 for the prcAaous year. These figures of themselves are
an insuperable argument against the continued coinage ofsilver dollars.
The Treasury would be relieved, in a measure, from the burden of,
the silver now held in the Treasury by-a Avithdrawal from circulation
of the one and two dollar notes. This would not be a gain to the
5022 F
3
XXXIV REPORT OF THE SECRETARY OF THE TREASURY.
Treasury, but it would be a gain to the country by increasing the
amount of silver in circulation.
The amount of one-dollar notes in circulation is $26,763,097.80; the
amount of two-dollar notes in circulation is $26,778,738.20. Congress
would, I think, act wisely in putting an end to their circulation.
Nor do I, hesitate to express the opinion that the counti:y would be
benefited if all five-dollar notes should be gradually retired and the
coinage of half and quarter eagles should be increased. If this should
be done, the circulating medium of the United States below ten dollars would be silver and gold, and we should be following the example
of France, in which there is an immense circulation of sih-er coin,
which in all domestic transactions maintains a x^arity with gold. •
The substitution of gold, and silver for small notes would be x^roductiA^e of some inconvenience, but this would be temxiorary only. If
the five-dollar notes should be withdrawn, the Treasury would be relieved from the burden of silver in its vaults, and it would not be long
before the coinage of sih-er might be resumed.
COINS NND COINAGE.
• The nominal value of the coinage at the mints of the United States
•during the fiscal year 1884 was $27,932,824 of gold, $28,773,387.80 of
silver, and $1,174,709.73 of minor coins, a total of $57,880,921.53. Of
the gold coinage, $23,765,900 were in double-eagles, $2,033,040 in eagles,
and $2,116,020 in half-eagles. Of silver, $28,099,930 were in standard
dollars, $665,160.30 in dimes, $4,465 in half-dollars, and $3,832.50 in
quarter-dollars.
The larger part, nearly six-sevenths, of the gold coinage was executed at the San Francisco mint, while the Philadelphia mint Avas
chiefly occupied in coining silver and minor coins. Both gold and
silver were coined at Carson, but only standard dollars at New Orleans.
Application having been made by the HaAvaiian Government for the
coinage of silver coins of the nominal value of $1,000,000, authority
was giA^en to coin that amount at the San Francisco mint of the denominations and standards x^i^^cribed by the laws of that government,
which conform in weight and fineness to those of similar United States
silver coins, and the coinage Avas executed in accordance therewith.
Besides the conversion of bullion into coin, bars were manufactured
and issued from the mints and assay offices of the value of $23,875,585.57
gold and $7,639,724.42 sih-er, a total of $31,515,309.99. Gold bars of
the value of $25,419,530.15 were x^aid out in exchange for gold coin at
the NewYork assay oifice, and $381,269.71 a t t h e Philadelphia mint, a
REPORT OF THE ' SECRETARY OF THE TREASURY.
XXXV
total of $25,800,799.86, pf which $22,966,975.44 were delivered for
shiximent to Eurox:)e and the remainder for industrial uses.
For the coinage of standard dollars, $24,378,383.91 Avorth of silver
bullion was bought during the year, an average of $2,031,532 per
month. 'The mean NewYork price for silver bullion was $1.1156 x^er
ounce fine, and the average cost of the silver X3urchased was $1,112.
The silver used in coining silver dollars, including the value of the
silver wasted and sold in sweeps, cost $24,203,572.67, being a monthly
average of $2,016,964.39.
The report of the Director of the Mint shoAvs in detail and in tabular
statements the oxierations of the mints and assay offices and the disjK)sition of the bullion received, and contains valuable information in
regard to the production, consumption, and circulation of gold and
silver in the United States and in the Avorld.
The mines of this country during the calendar year 1883 yielded of
theprecious metals, gold, $30,000,000; silver, $46,200,000—a total of
$76,200,000, and will probably produce nearly the same amount in the
present year, as the receipts at the mints and exports indicate an increase in silver and slight decline in gold.
^
The coin of the United States is estimated to have been on the 30th
of June, 1883, gold coin, over $537,000,000'; silver coin, $228,000,000,
and it has been increased during the fiscal year by coinage at the
mints, and the import of United States coin, deducting the export and
amount used in the arts, by $13,000,000 in gold and $22,000,000 in
silver. On the 1st of October, 1884, it amounted to $557,000,000 of
gold, and $257,000,000 of silver—a total of $814,000,000. This docs
not include the bullion belonging to the Government at that date held
at the mints and assay offices, aggregating nearly $53,000,000 in gold
and $5,000,000 in silver—making the total in the country of coin and
bullion available for coinage $872,000,000.
The folloNving are x^i'obably reliable estimates of the x3roduction of
gold and silver for the last ten years:
P r o d u c t i o n of g o l d .
U n i t e d State.s.
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
i.
.'.
Total
AVorld,
P r o d u c t i o n of s i l v e r .
United states.
World,
$33,500,000
as, 500,000
39,9;30,000
46,900,000
51,200,000
38,900,000
36,000,000
34, 7(30,000
32,500.000
30,000,000
$113, 500,000
•113, 500,000
114. 000,000
114: "to, 000
119; 000,000
108, 700,000
400,000
. 106.
103, 000,000
98, 700,000
94, 000,000
$37, 300,000
31, 700,000
38, 780,000
39, 800,000
45. 281,000
40, 800,000
39, 200,000
43, 000,000
46, 800,000
46, 200,000
$82,000,000
82,000,000
98,000,000
81,000,'ooo
94,900,000
96,170,000
96,700,000
102,1.50,000
110,000,000
114,200,000
377,130,000
1,084,800,000
408,861,000
957,120,000
XXXVI
REPORT OF THE SECRETARY OF THE TRK.A.SURY
Becoinage and improvement of suhsidiary coin.
The, Secretary invites attention to the pressing necessit^^ for the recoinage of the subsidiary silver coins of the United States. The decreased intrinsic value of these coins, owing to the marked decline in
the price of silver, renders it advisable to increase their weight so that
they will correspond to fractional subdivisions of the silver dollar.
The fractional silver coins of the United States were first authorized
by the act of April 2, 1792, and weie of full weight, being fractional
portions of the dollar of 416 grains. As the silver dollar and its fractional parts were somewhat overvalued in that act, the weight of the
dollar was changed by the act of January 18, 1837, to 412.5 grains, and
the fineness from 892.4 to 900, the weight of the fractional silver coins
being changed proportionally.
As the bullion value of these coins was still greater than their face
value, it was found necessary, in order tp keep them in the country for
domestic use, to make them subsidiary to the silver dollar of that day.
The act of February 21, 1853, therefore, reduced the weight of a dollar'
in fractional coin from 412.5 grains to 384 grains.
In the reorganization of the coinage laws, by the act of February 12,
1873, the weight of the fractional silver coins was again changed so as
to correspond with the rhetric system, that law proAdding that a halfdollar should weigh 12.5 grams, which made the weight of one dollar
in subsidiary silver 385.8 grains. This is the law at the present
time.
As stated above, prior to 1873 the bullion value of the silver in the
fractional silver coins exceeded the nominal value of the coins, but,
owing to the decline in the price of that metal, the value of the silver in
two half-dollars ofthe present coinage, or of one dollar in any fractional
silver coined under existing law, is now only about 78 cents. This
would seem to be out of any just proportion to the face value of the
coins.
. It is estimated that there are in the country at this time some seventyfive millions of dollars of fractional silver coins of the various weights
and finenesses authorized by the acts stated above. Nearly $30,000,000
of them are held in the Treasury, and are x^racticall^^ unavailable as
an asset. A large portion of them is in a badly abraded condition,
having been in circulation for a long period of years. To increase
their bullion value so as to bring them up to the same weight proportionately as the silver dollar would require about four million
''4,000,000) ounces of silver.
REPORT OF T H E SECRETARY OF T H E TREASURY.
XXXVII
The reasons which existed at the time for making fractional silver
coins subsidiary to the dollar have ceased to exist, and, as the price of
silver is now lower than at any time since the summer of 1879, the
present would seem a most favorable opportunity for accomplishing
the needed improvement in these coins. The work could be effected
by the mints during the next five years, in connection Avith the regular
coinage authorized by law, without anincrease of force or interference
with such regular coinage.
The tendency of all nations is to improve and beautify the designs on
their Coins, and especially to make them uniform in Aveight as far as
practicable. There is not only a marked diversity in weight among
our coins of the same nominal value, but they are characterized by a
great variety and exceeding inelegance of design and a lack of artistic
merit. Should Congress authorize their recoinage, a much-needed opportunity would be furnished for rendering them more creditable as
well as more useful to the country.
The trade-dollar.
The Secretary suggests that' the existence of the anomalous tradedollars should be no longer tolerated. Originally coined for X3urx36ses
of foreign trade, and given a limited legal-tender quality in this country;,
they have not only been deprived of that quality by law, but have also ^
ceased to perform the function for which they were created.
Some millions of them, variously estimated at from six to ten, are
held in various parts of the country, awaiting the action of Congress.
Although intrinsically more valuable than the standard dollar, their
bullion value is now only about 86 cents. If it be considered unfair
or impracticable to accomplish their surrender at their bullion value
merely, a small advance on that value might be offered for them. The
offer should not remain ox^en longer than one year. The bullion realized from them will be available for the ordinary coinage of the
GoA^ernment, but, if the present silver law is to remain in force, such
bullion should be counted as a part of that now required to be purchased each month.
PUBLIC MONEYS.
The monetary transactions of the Government have been conducted
through the offices of the Treasurer of the United States, nine assistant treasurers, and one hundred and thirty-five national-bank depositaries.
xxxvin
REPORT OF THE SECRETARY OF THE TREASURY.
The gross receipts of the Government, amounting during the fiscal
year, as shoAvn by Avarrants, to $555,397,755.92, ($206,877,886 of which
were on account of loans,) were deposited as follows :
In Index3endent Treasury offices
In national-bank depositaries
$427,658,671 00
127, 739, 084 92
Attention is again iuA^ited to the crowded condition of the vaults in
the sub-treasury offices, occasioned by the great accumulation of
standard sih-er dollars and redeemed fractional sih-er coins. The ncAv
vault just completed in the office of the Treasurer of the United States
at Washington is the only one now available for further storage, the
new A^ault at New Oiieans being needed for the storage of silver accumulated at that point and that coined at the mint in that cit^^ The
vaults of the offices at Boston and Cincinnati have been somewhat relieved by transfers of silver to Washington, but there has been no
^ transfer yet from the San Francisco office to the East, owing to the
great cost of transportation and the inadequacy Of the appropriation
from which such cost is prox^erlj^ payable. The assistant treasurer at
San Francisco has rex3orted that his vaults are nearly full, and that
there is no further space in his office aA^ailable for the erection.of
another vault. He recommends the x'>iirchase of adjoining xiroperty
for the purpose of x3roviding additional vault-room.
There are also many millions of standard silver dollars in the mint
at San Francisco which encumber the A^ault-sx^ace required to accommodate the current coinage, and Avhich should be transferred if the
coinage of such pieces is to be continued there, CA^en in limited amount,
as at xiresent. The cost of transportation could be paid from the xirofit
on their coinage, but they can be transferred to Washington only at a
great expense, Avhich the Department feels reluctant to incur, in view
of the fact that such action would not distribute the coins or get them
into circulation, but Avould simply change the xilace of their storage,
and render it necessary hereafter for Congress to ax3propriate funds for
their transxiortation from the Treasury, whencA^er the coins are distributed throughout the country.
REPORT OF THE SECRETARY OF THE TREASURY.
XXXIX
Standard silver dollars.
Statement showing the^amount of standard silver dollars in the several Treasury offices Oetober 31, 1884.
Standard silver
dollars.
In office of—
$5,024,243
3,146,351
26,208,000
9,455,300
1,975,085
278,500
6,840,400
8.1.32.000
8.013,001
is; 81.2,000
7,876,905
12,072,658
7
2, 942, .308
32,607,492
^5,423
2
13,738
Treas urer United States, AVashington
Assistant treasurer United States at Baltimore
Assistant treasurer United States at New York
Assistant treasurer United States at Philadelphia ..
Assistant treasurer United States at Boston
Assistant treasurer United States at Cincinnati
Assistant treasurer United States at Chicago
Ai5sistant treasurer United States at Saint Louis
Assistant treasurer United States at New Orleans...
Assistant treasurer United States at San Francisco
Mint of the United States at Philadelphia
Mint of the United States at New Orleans
Blint of the United States at Denver
Mint of the United States at Carson
Mint of the United States at San Francisco
Assay office of the United States at New York
Assay office of the United States at Saint Louis
Assay office of the United States at Helena
Assay office of the United States at Bois<§ City
Total
143, 404,093 '
The following table shows the amount of sih-er dollars coined, on
hand, distributed, and outstanding at the close of each year since the
ooinaa'e was resumed:
Fiscal year ended
J u n e 30—
Net distribu- Outstanding
A n n u a l coin- Total coinage. On h a n d at
a t close of
tion during
age.
c l o s e of y e a r . y e a r .
year.
$8.573,500
27,227,500
27,9.33,750
27,637,955
27. 772,075
28,111,119
28,009,930
1878-^'- ;
1879
1880
1881
1882
18&3
1884
$8,573,500
> a5,801,000
63,734,750
91, .372,705
119,144,780
147,255,899
175,355,829
$7,718,357
28,358,589
45,108,296
63,249,-300
87,524,182
112,362,510
135, 810,368
* Coinage b e g a n in March.
$855,143
6,587,268
11,184,043
9,496,951
3,497,193
3,272,791
4,652,072
,. $855,143
7,442,411
18,626,454
28,123,405
31,620,598
34,893,389
39,545,461
^
Silver certificates.
The total amount issued to NoA^ember 1, 1884, was
The redemptions to the same date amounted to
Leaving nominally outstanding,
There Avere nominally outstanding NoA^ember 1, 1883...
$191, 790, 000
60, 233,469
131, 556, 531
99, 579,141
Showing an increase of....,
31, 977, 390
The Treasury held on November 1,1884
And on November 1, 1883
$30, 814, 970
13,632,370
^ An increaseof
17,182,600
XL
REPORT OF THE SECRETARY OF THE TREASURY.
Which deducted from the increase in the amount nominally outstandihg, leaves an increase of.
$14, 794, 79(>
The amounts actuaUy outstanding (in circulation) were:
November.1, 1884
$100,741,561
November 1, 1883
85,946,771
Anincrease, as above, of
,. ...
14,794,790^
Gold ceHificates:
Statement of gold certificates of 1882 issued, redeenied, and outstanding.
Denomination.
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.
F,ive t h o u s a n d d o l l a r s
T e n t h o u s a n d dollars..
Total
Total issues to
N o v . 1, 1884.
Total redemptions to Nov.
1, 1884.
$12,480,900
9,740,700
9,2.50,600
8,652,500
13,113,000
8,205,000
18,680,000
$14,880,000
10,500,000
10,700,000
10,500,000
1.7,000,000
15,000.000
74, ooo; 000
$1,897,560
1,648,400
1,382,600
2,003,500
2,604,000
4,865,000
20,420,000
$12,982,440
. 8,851,6009,317,40a
8,496,500.
. 14,396,000'
10,135, OOO
53,580, OOO^
0,122,700
152,580,000
34,821,060
117,758,940'
Outstanding
N o v . 1,18&3.
Outstanding
N o v . 1,1884.
N O T E . — T h e a m o u n t s o u t s t a n d i n g on t h e d a t e s n a m e d , as s h o w n by the public-debt statement^,
a r e g r e a t e r : t h e r e b e i n g i n c l u d e d t h e a m o u n t s of t h e g o l d c e r t i f i c a t e s of t h e o l d i s s u e o u t s t a n d i n g ,
w h i c h w e r e a s f o l l o w s : On N o v e m b e r 1, 1883, $3,206,240; o n N o v e m b e r 1. 1884, $2..584,380.
T h e a m o i m t s h e l d b y t h e T r e a s u r v w e r e : N o v e m b e r 1, 1883, $31,252,760; N o v e m b e r 1, 1884^
$32,477,750.
Trauspo'rtation charges on United States notes.
Attention is directed.by the Treasurer to the need of an apxiroxiriation for the expense of transportation of worn and mutilated United
States notes to the Treasury for redemption, and the return of new notes
therefor.
In view of the fact that for many years Congress, by appropriating^
for this expense, recognized the duty of the Government to bear the
entire cost of this currency, as the hational banks are required to bear
the expense of replacing their issues, and of the apx^arent discrimination in respect to facilities for redemxition, against the holders of noteswho caiinot present them to an assistant treasurer Avithout expense tothemselves, it is urged that a sufficient amount be appropriated to pay'
the charges for the transportation of such notes for the remainder of
this and for the ensuing fiscal year.
BUREAU OF ENGRAVING AND PRINTING.
Owing to the inadequacy of the apxiropriation for the x)rex3aration of
United States notes, certificates, and bonds, for the fiscal year ended
June 30, 1884, Congress was asked on January 5, 1884, for a deficiency
appropriation. This not having been granted, the x3rex3aration of one.-
REPORT OF THE SECRETARY OF THE TREASURY.
XLI
dollar and two-dollar notes was suspended from January 21, 1884, until
July 1, 1884, at which time the appropriation for the current fiscal
year became available. In consequence of this, the Treasury was for
a time unable to supply these notes. The appropriation for the current year, being but $4,000 greater than that of last year, is believed
to be insufficient to maintain a full circulation of small notes.
The Secretary has already exx3ressed the opinion that the function
of the one-dollar and two-dollar notes would be better performed
by the silver dollar, and suggested that a withdrawal of such noteswould furnish legitimate employment for a.large portion of ^ the vast
store of standard dollars now idle in the Treasury vaults.
If it be determined, however, to keep legal-tender notes of the
smaller denominations in circulation, I recommend the apxiropriation
of the full amount asked for by the Chief of the Bureau of Engraving
and Printing.
NATIONAL BANKS.
The number of national banks in operation November 1, 1884, was2,672, The number of national banks organized during the year ending November 1,1884, was 191, with an aggregate capital of $16,042,230.
Circulating notes have been issued to these new associations amounting
to $3,854,530. These new banks are located by geographical division
as follows: Eastern States, ten banks, with capital of $810,000; MiddleStates, twenty-five banks, with capital of $1,812,250; Southern States,
thirty banks, with caxiital of $2,991,100; Western States, one hundred '
and tAVO banks, Avith cax3ital of $8,905,880; Pacific States, five banks,
Avith caxiital of $380,000; Territories, nineteen banks, Avith caxiital of
$1,143,000.
'
.
Since the establishment of the national-banking system, on February
25, 1863, there have been organized 3,261 national banks. Of these,
489 have gone into voluntary liquidation by vote of shareholders owning two-thirds of their respective caxiital, and 100 have been placed,
in the hands of receivers for the x^urxDOse of closing UXD their affairs.
The aggregate capital ofthe national banks ofthe United States on
October 1, 1884, was $524,266,345; the surplus was $147,045,833.28;
the circulation Avas $289,775,123; the individual deposits -were
$975,259,295,14; the loans and discounts were $1,240,070,797.02; the
amountof specie was $128,609,474.73; the United States bonds to secure circulation Avere $327,435,000; and theUnited States bonds t a
secure deposits and for other purposes were $30,419,600.
ElcA^en national banks, with an aggregate cax3ital of $1,285,000, have-
XLII
REPORT
OF THE SECRETARY OF T H E
TREASURY.
failed and been placed in the hands of receivers during the year ended
November 1, 1884. The corporate existence of eight^^-nine national
banks expired during the year, of Avhich eighty-three have •'been extended under the act of July 12, 1882. The shareholders of five national banks have permitted their corporate existence to expire by
limitation during the year, three of which were succeeded by other
associations in the same places and with nearly the same shareholders,
and one national bank was placed in A^oluntary liquidation by vote oi
shareholders owning two-thirds of its stock. The corxiorate existence
of 721 national banks, with an aggregate capital of $189,071,475, Avill
expire during 1885.
•' It will be noted that the circulation decreased $25,156,452 during
the year. The bonds dex30sited to secure circulation, which decreased
.$9,613,350 in 1883, were still further reduced $25,442,300 during 1884—
a reduction of $35,055,650 in two years.
The 3 x^er cent, bonds of the United States have now been reduced
to less than two hundred millions, and they Avill be further reduced
through the oxDerations of the sinking-fund by nearly fifty millions each
year.
The market prices of the 4 per cent, and the 4 J per cent, bonds of
the United States have declined somcAvhat during the past year ; but
that these bonds are still too high to enable banks to base circulation
upon them at a profit is plain, from the fact that the circulation has beeii
voluntarily decreased more than $25,000,000 during the year.
Among the measures of relief recommended in the last report were
-an increase of the issue of notes to the face value of the bonds
•deposited, a 'bill to authorize which passed the Senate during the
last session of Congress; the accex3tance of the 3.65 per cent, bonds
•of 1924 of the District of Columbia, the payment of Avhich is guaranteed by the United States; and a repeal of the tax on circulation.
I earnestly commend these propositions to the wisdom of Congress,
believing that, if adopted, they AA^II enable banks which now contemplate a surrender of their circulation in'consequence of the calling
of their 3 per cent, bonds to maintain it on the long-time bonds with a
small profit, or at least without loss.
Inasmuch as about $135,000,000 of the circulation of banks is based
upon our 3 x^er cent, bonds, which are now redeemable and being
raxDidiy redeemed, remedial action cannot be x30stponed beyond the
present session if a rapid reduction of our bank-note circulation is to be
avoided. The subject is a very imxiortant one, and should receive immediate attention.
REPORT OF TI-IE SECRETARY OF THE TREASURY.
XLIII
These, hoAvever, would be measures of temx3orary relief only. Something more must be done if the system is to be established on a X3ermanent basis.
More than twenty years have passed since the national-banking
system was adopted, and many xieople are not aware of the circumstances under Avhich it came into existence. Prior to 1863 the
X3aper circulation of the country Avas furnished by banks organized
under State laws. The notes issued by these banks had a very limited
credit, and none of them were perfectly secured. When it became
apx3arent that large amounts of pax3er currency Avould be required by
the GoA^ernment in making x3ayments and in the collection of the internal revenues, the question which presented itself to the Secretary,
Mr. Chase, was: Can the notes of State banks be safely used by the
Dex3artment for these purx30ses'? Fortunately for the GoA^ernment, and
for the business of the country, the Secretarj^^ decided the question in
the negative. It was his opinion, which coincided with the opinion of
Congress, that a bank-note circulation X3erfectly secured and current
throughout the Union had become an absolute necessit^^; hence the
creation of our national-banking system. It is one of the most interesting facts in our financial history that the notes of the State banks
were retired* and their X3lace taken by those of the national banks—an
entire revolution effected in our banking, system—without a rix3X3le of
disturbance to the business of the country.
That the national-banking system has been of great service to the
GoA^ernment in the collection of revenues; that it has furnished a banknote circulation of uniform value, and safe beyond question, is admitted CA^en by its opponents. Open to all who desire to engage in
banking, free from anything which savors of monopoly, it is eminently
adax3ted to our republican institutions. Banks of issue have been found
necessary in all Commercial nations, and it can be safely asserted that
none, so far as circulating notes are regarded, are sux3erior or equal to
ours. All this being true, its x3ieserA^ation is a matter of national imx3ortance; its discontinuance Avould be a national calamity.
CUSTOMS.
The revenue from customs for the fiscal 3^ear ended
June 30, 1884, was
$195,067,489 76
That for the X3receding fiscal year was
214, 706, 496 93
Showing a reduction of
^ 19,639,007 17
XLIV
REPORT OF THE SECRETARY OF THE TREASURY.
The total value ofthe imx3orts of merchandise entered for consumption in the United States during the year ended June 30, 1884, wa^
$667,575,389,'as against $700,829,673 during the preceding fiscal year ;.
the value of dutiable merchandise so entered amounted to $456,295,124,
as against $493,916,384 during the preceding year; the A-alue of merchandise free of duty amounted to $211,280,265, as against $206,913,289'
during the preceding year; the average ad valorem rate of duty ondutiable merchandise was 41.702 per cent., as against 42.646 per cent,
during the preceding fiscal year; and the average ad valorem rate of
duty on free and dutiable merchandise was 28.503 per cent., as against
30.055 per cent, during the preceding fiscal year. These facts may b e '
more concisely presented in tabular form, as follows:
Value of imported me}'chandise enten^ed for consumption, and duties colleeted thereon.
Y e a r e n d e d J u n e 30—
Description.
1883.
S206,913,289
493,916,384
M e r c h a n d i s e free of d u t v
700,829,673
TotPcl v a l u e o f m e r c h a n d i s e
Pe?' cent.
A v e r a g e a d v a l o r e m r a t e s of d u t y o n Dutiable merchandise
.
Free a n d dutiable naerchandise
42.646
30.055
1884.
S2n 280 265456,295,124
667,575,38^
P e r cent.
41 702
28.503;
The following are the amounts of duty collected on the articles
named during the years ended June 30, 1883 and 1884, resx3ectively:
Articles.
'1. Sugar, molasses, and confectionery
2. AVool, a n d manufactures of
:
3. Silk, manufactures of
4. Iron and steel, and manufactures of.....
5. Cotton, manufactures of
6. Flax, hemp, jute, and manufactures of.
7. Tobacco, and manufactures of
' 8. Spirits and wines
...,
$46,172,378
32,320,893
19,654,946
16,590,504
12,234, .371
10,149,103
7,661,638
8,741,958
S48,923,465.
32,001,22618,962,210
14,799,117
11,479, 942:
. 9,418,484
6,946,652
5,730,646-
The report ofthe Ohief of the Bureau of Statistics gives a review of
the effect of the tariff-^ act of March 3, 1883, for the year ended J u n e
30, 1884, to which special attention is invited.
QUARANTINE OF
NEAT-CATTLE.
The act making an apx3rox3riation for the current year to establish
and maintain quarantine stations, and x3rovide x3roper shelter for and
care of neat-cattle imported, provides that the same be exx3ended by
REPORT.OF THE SECRETARY OF THE TREASURY.
XLV
the Commissioner of Agriculture, under the general sux3ervision ofthe
;Secretary of the Treasury.
Heretofore the establishment and maintenance of such quarantine
stations was exclusively in charge of this Dex3artment, but under the
foregoing provision the Department of Agriculture has entire control
of the whole matter, including the expenditure of the ax3X3rox3riation,
.•subject only to the supervision of this Department as to apx3roving the
4etails of expenditure and making general regulations governing the
importation. It is presumed that the Commissioner of Agriculture.
will make a report on the subject directly to Congress.
SPECIAL AGENTS.
It appears from the rex3ort, herewith transmitted,* of the Sux3erA^ising Special Agent, who has charge of measures for the prcA^ention and
detection of frauds upon the customs revenue, that the most serious
obstacle in the way of an honest collection of the customs duties is the
widespread X3ractice of undervaluing invoices of merchandise consigned
to agents of European manufacturers. The consignment system seems
to have largely groAvn up since the enactment of the act of June 22,
1874. This law, which requires the Government in certain customs
cases to prove the intent to defraud the revenue as a sex3arate and distinct proposition, is found by the law officers to be a constant barrier
;to the successful prosecution of frauds of this nature. In a recent decision of the United States court of the southern district of New York,
it is held that the act in question, repealed the law x^iOAdding for forfeiture of the A-alue of the goods where the merchandise fraudulently
imported had gone into consumption.
Under this law and the ruling of the court, the Government has now
no remedy where frauds upon the revenue have been successfully accomplished and the goods have passed beyond reach of the customs
officers.
An ad valorem tariff without adequate means for its enforcement and
penalties for its violation must inevitably result in loss to the revenue
and to honest importers.
•^See Appendix, page 61.
XLVI
R.EPORT OF THE SECRETARY OF T H E
TREASURY.
INTERNAL REVENUE.
The receipts from the A^ariops objects of taxation under the internalrcA^enue laws, as rex3orted by the Commissioner of Internal Revenue
for the fiscal years ended June 30,- 1883 and 1884, were as folloAvs:
Fiscal year ended J u n e 30—
Objects of taxation.
Distilled spirits
Tobacco
Fermented liquors
Bank circulation
Penalties
Taxes under repealed laws
873,368,775
42,104,249
16,900,615
782
305,803
10,873,118
Total
20
79
81
35
57
14
144,553,344 86
^76,905,385
26,062,399
18,084,954
441
289,144
2-17,714
26
98
11
84
12
52
121,590,039 83
These figures diifer somewhat from the amonnts actually covered into the Treasnry
as shown by the covering warrants.
From the above table it appears that the increase of revenue from
spirits during the last fiscal year was $2,536,610.06, and from fermented
liquors, $1,184,338.30; the decrease in the receipts from tobacco was
$16,041,849.81, and from all sources, $10,625,403.62. This large decrease is due to the act of March 3, 1883, which reduced the tax on
manufactured tobacco, snuff, cigars, &c., and repealed the,tax o n t h e
capital and dex)Osits of banks and bankers not national, and the stamptax on bank checks, friction matches, patent medicines, &c.
.;The cost of collecting internal revenue during the last fiscal year
was $5,100,451.84. The estimated cost for the same work for the current year is $4,984,590.
.
PRODUCTION OF SPIRITS.
The quantity of spirits produced and dex30sited in, distillery Avarehouses during the fiscal year ended June 30, 1884, is greater than the
production of 1883 by 1,422,431 gallons, but is less than that of 1882
by 30,417,422 gallons, and of 1881 by 42,292,411 gallons.
The increase in x3roduction of the fiscal year 1884, as comx3ared with
that of the fiscal year 1883, is distributed among the different kinds
knoAvn to the trade asiblloAA^s :
Increase in production of—
Gallons.
Bourbon whiskey
Rye whiskey
Alcohol
Gin
..'
234, 587
305,304
1,666,523
95,956
REPORT OF T H E SECRETARY OF T H E TREASURY.
XLVII
Gallons.
Pure neutral or cologne spirits
Miscellaneous
Total increase
Decrease in production of—
243,427
923,699
'.
3,469,496
Gallons.
Rum
High wines
Total
90,802
1,956,263
,
2,047,065
Netincrease
1,422,431
IMMIGRATION.
The experience of another year in the administration of the ^'act
to regulate immigration,'^ approved August 3, 1882, seems to justify
a renewal of the recommendation of my x3redecessor in his annual report of last year, looking to a modification of the existing law.
The double capacity in which the State boards of immigration act,
namely, as Federal and as State officers, as required by this act, tends
to render the execution of the law uncertain and inefficient. The duty
of securing the return of alien convicts to the countries whence they
came is, by the fourth section of this act, imposed on State officers,
without any remuneration. The proceedings of the return of such
convicts must be taken by such officei's, under the x3roAasions of ^ ^ An
act sux3plementary to the acts ih relation to immigration,'' approved
March 3, 1875—proceeding's so circuitous and complex as to render a
return of couAdcts nearly imx30ssible.
( |There is no x3rovision in the act for the purchase or care of property,
such as vehicles or edifices needed for the due execution of the law.
The receiving of immigrants on their arrival in this countiy, when
sick or temporarily physically disabled, necessitates a resort to the use
of vehicles for transportation, and frequently the shelter of a hospital
or other edifice of like character.
Applications from the boards of immigration at Baltimore and'
Galveston for authority to erect on the docks of those cities buildings
simx3ly for receiving immigrants on landing, on the ground of an imperative demand for them, are now before the Department; but the
authority to ax3X3rox3riate the x3ro eeeds of the immigration fund for that
X3urpose is, under the law, doubtful.
No contracts with State commissioners to administer the local affairs
of immigration ha^ve been made within the X3ast year. The commis-
XLVIII REPORT OF THE SECRETARY OF THE TREASURY.
:sioners who had x3ieviously been contracted Avith, Adz., those at Portland, Me., Boston, NewYork, Philadelphia, Baltimore, Key West, •
and Galveston, are still in the exercise of their functions at their respective ports. At most of the other X30rts the receipts of tai-x haA^e
been found insufficient to warrant the designation of commissioners,
and as a consequence, there being no agencies for the emx3loyment at
such ports of the fund there collected as capitation tax, such collections
have been, and still continue to be, covered into the Treasury without
Ibeing in any way made available in the conduct of the afi'airs of immi•gration at the respective ports where collected. To obviate this, it is
recommended that, in such-cases, discretionary power be conferred on.
the Secretary of the Treasury to designate collectors of customs or their
dex3uties to act as commissioners of immigration at their respective
ports, with sx3ecial comx3ensati6n therefor, if deemed advisable.
Certain questions have arisen, in the course of the administration
ofthe law, as to the extent of the jurisdiction of boards of immigration over immigrants that have been landed. At some of the X30rts
where immigration boards are in operation, X3articularly at, New York,
rsome difficulty has been experienced in determining where the examination of xiassengers should be made. The law, by implication, requires that such examinations shall be made on shipboard before the
X3assengers have been landed. At ports Avhere large numbers of immigrants arrive at one time, it has been found inconvenient, if not impracticable, to carry such requirement into practice, and, therefore, such
examination has been conducted at some designated place of landing
under the control of the board of immigration. For instance, the examinations at New York are made at Castle Garden.
A point was raised in a case recently before the United States court
at New York bearing on the question of the authority, under the laAv,
to return on shipboard for deportation xiarties who, having been
landed, are found to be of a class whose landing is prohibited. While
t h e court intimated, upon a point outside of the issue, that a plae^ for
the landing and subsequent examination of passengers might be designated under the law, it is recommended that further legislation be
had, giving specific authority to make such designations.
The immigrant act of August 3, 1882, imposes no xienalty for the
landing of persons of the prohibited classes. The ^^Passenger a c t "
of August 2,1882, (section 9,) imposes a fine not exceeding one thousand
dollars on the master of a vessel from a foreign port for allowing passengers to land without the consent of the customs officer in charge.
While this latter might be invoked as prescribing a penalty for a Ado-
REPORT OF THE SECRETARY OF THE TREASURY.
XLIX
lation of the former act, it is recommended that a special penalty of a
reasonable amount be prescribed for the violation of the immigrant
'act in respect to the laLnding of passengers, and that such penalty be
made a lien upon the transx3orting vessel. It is also recommended that
the moneys so collected as X3enalties be made a part of the immigrant
fund to be employed as provided by the immigrant.act, as well as for the
deportation of passengers illegally landed. If the recommendation
hereinbefore made be adox3ted, viz., that passengers may be landed at
designated places for examination, the x^onalty suggested should be
made to apply in cases where, having been so landed and examined,
they are found to be of the proscribed classes.
The section ofthe ^' Passenger act" above referred to (section 9) forbids the master to allow any one to go on board his vessel after her arrival, but before the customs officer takes charge, ^ ^ excex3t a pilot, officer of
the customs or health officer, agents of the vessel, and consuls.'' The
commissioners of immigration are not allowed to board the vessel until
after an officer has taken charge. It will thus be seen that the agents
of the vessel may, with the consent of the master, board the vessel in
advance of the commissioners, and so be afforded an ox3portunity to
intervicAV the immigrants without hinderance to prepare them for
the subsequent examination, so that the x3rohibition of the law in respect to the landing of certain classes may be avoided. It is, therefore, recommended tbat the law be so amended as to allow the commissioners of immigration or their representatives equal privileges
with the agents of vessels in respect to boarding.
The receipts and disbursements on account of the immigrant fund,
for the fiscal year ended June 30, 1884, as shown by coA^ering and disbursing warrants, respectively, were as follows: Receipts, $224,286.50;
disbursements, $235,443.86. The apparent excess of exx)enditures over
receipts for the fiscal year is accounted for by the fact that such excess
was paid from an unexpended balance of receipts of the preceding
fiscal year, amounting to $104,130.53.
5022 F^
IV
L
REPORT OF T H E SECRETARY OF T H E
TREASURY.
The following statement shows the immigration at the several ports
of the United States:
Nuniber of immigrants arrived in the United States, by customs districts, during the years
ended June 30, 1883 and 1884.
Year ended June
30^
Customs districts.
Decrease.
New York
Boston and Charlestown
Huron
Baltimore
Philadelphia
Detroit
San Francisco
Passamaquoddy
Puget Sound
Portland and Falmouth.
New Orleans
Galveston
All other districts
Total
406,697
.48,188
'15,393
^55,690
24,808
17,166
8,191
3,360
1,153
1,845
1,707
1,535
6,589
354,702
35,036
29,751
35,507
18,981
26,341
1,735
2,348
1,716
4,093
1,958
6,424
51,995^
13,152
15,642.
183
5,827
=i=9,175
6,4561,012
2,153
129
*2,386
*423
165
60'3,322
518,592
84,730
*Increase.
The following statement shows the nationality of immigrants:
Number and nationalities of immigrants arrived in tJie United States during the years ended
June 30, 1883 and 1884, respectively.
Year ended June
30—
C o u n t r y of l a s t p e r m a n e n t r e s i d e n c e o r c i t i z e n s h i p .
Decrease.
Decrease,
1883.
England
Ireland
Scotland
Great Britain, other
Total United Kingdom,
Germany
Sweden
Norway
,
Denmark
Switzerland
France
Italy
other Europe
D o m i n i o n of C a n a d a
China
All other countries
Total..
63,140
81,486
11,859
1,607
55,918
63,344
9,060
972
7,222
18,142
2,799
635
P e r cent.
11.4
22.3
23.6
39.5
158,092
194,786
38,277_
23,398^
10,319
12,751
4,821
31,792.
46,918
70,241
8,031
3,896
129,294
179,676
26,552
16,974
9,202
9,386
3,608
16,510
61,004
60,584
279
5,523
28,798
15,110
11,725
6,424
1,117
3,365
1,213
15,282
*14,086
9,657
7,752
*1,627
18.2
7.7
30.6
27.5
10.8
26.4
25.2
48.1
30.0
13.7
96.5
43.7
603,322
518,592
84,730
14.0
*Increase.
REVENUE MARINE.
The Revenue Marine maintains its position of usefulness and efficiency. The vessels now number thirty-eight, manned by about 950
oificers and men, and are so stationed as effectually to cover the whole
coast of the country.
REPORT OF THE SECRETARY OF THE TREASURY.
LI
The work of theservice for the fiscal year last past is represented,
statistically, as follows:
Aggregate number of miles cruised by vessels
317, 843
Number of merchant vessels boarded and examined
26, 282
Number of merchant vessels found violating law in some
particular and seized or reported to proper authorities:..
2, 270
Fines or penalties incurred by vessels so seized or reported
:
$683,642.39
Number of A^^essels in distress assisted
246Yalue of vessels and their cargoes imperilled by the sea
to which assistance was rendered
$7,015,572.00
Number of persons on board vessels assisted
\
3, 310
Sixty-three persons Avere xiicked out of the water and saved from
droAvning.
The cost of conducting the service for the past year was $851,311.86.
The special work of the service has been unusually important. Four
of the vessels were employed last spring in the waters of the Gulf of
Mexico in X3reventing Adolations of the neutrality laws. Added to the
regular work, the whole fleet has been employed during the season in
maintaining a sanitary patrol upon our coast against the introduction of
cholera and yellow fever, Avhile four of the vessels have, in co-operation
with the Marine-Hospital Service, kept up rigid national quarantine
at the entrances to Delaware and Chesapeake bays and in the Gulf
In comx3liance with the law requiring the Secretary of the Treasury
to use revenue-vessels for the protection ofthe Government's interests
in Alaska, the revenue-steamer ^'Corwin," under command of Captain Healy, has cruised industriously in the waters of Alaska and
upon our coast within the Arctic ocean, with signal public benefit,
seizing one schooner engaged in the unlawful killing of seals, assisting
the crew of a shipwrecked whaler, succoring destitute miners, and
making useful surveys and explorations.
The rebuilding of the revenue-steamer ^^Perry," at Buffalo, N. Y.^
has been completed during the year, and that vessel i3laced on duty at
Erie, Pa., her former station. She proves an able and effective vessel/
and constitutes a valuable addition to the fleet.
Three steamers of the service have been thoroughly overhauled and
repaired in the hulls, and furnished Avith new boilers.
The steamer ^ ^ Crawford,'' which has been laid up for several months
as unseaworthy, has an engine of superior make. It is recommended
that this vessel be rebuilt with iron hull, (utilizing the present engine,)
for service in southern waters. For this purpose the sum of $70,000
is included in the estimates.
*
LII
REPORT OF THE SECRETARY OF THE TREASURY.
Of the tAVO small steamers engaged in harbor duty at the port of New
York, neither is adapted for the work now required of them, and one
is reported in need of extensive repairs. The sum of $50,000 is required for the construction of such a vessel as the public interests demand for this duty, and recommendation is made accordingly.
Attention is invited to the recommendations of five former reports
that a vessel be provided for duty in Alaskan waters. The groAving
importance of this vast territory renders the subject of increased interest, while the results of the annual cruising of the revenue-cutters
in the Alaskan region show the practical utility of the work performed.
I t i s believed that this service cannot be abandoned without serious
]3ublic loss. '
LIFE-SAVING SERVICE.
The ox3erations of this service haA^e continued during the year with
unabated success.
The number of the stations at the close of the year was 201. There
were 337 disasters to documented vessels within the scope of their action. On board these vessels there were 4,253 persons; of these, 4,237
were saA^ed, and 16 lost. The number of shix3Avrecked persons succored
at the stations was 532, who receiA^ed in the aggregate 1,319 days' relief The A-alue of property involved is estimated at $10,530,025; of
this, $9,090,134 AA^as saved, and $1,439,891 lost. The number of vessels
totally lost was 64.
The assistance in saving vessels and cargoes has been greater than
ever before, 390 vessels having been Avorked off when stranded, reX3aired when damaged, piloted out of dangerous places, and similarly
assisted by the station crews. There were also 240 instances of A-essels
being Avarned off by night-signals when running dangerously near
shore, and thus probably saved from X3artial or total loss.
Besides the foregoing, there were 102 disasters to small craft, such
as sail-boats, row-boats, &c., involving the lives of 179 persons. Of
these, 175 were saved, and 4 lost. The prox3erty represented in these
cases amounted to $77,915, of Avhich $71,220 Avas saved, and $6,695
lost. The aggregate is as follows :
Total number of disasters
Totalvalue of property involved
Total A-alue of property saved
Totalvalue of property lost..
:
Total number of persons on board
Total number of persons saved
'..
439
$10,607,940
$9,161,354
$1,446,586
4,432
4,412
REPORT OF THE SECRETARY OF THE TREASURY.
Total number of persons lost
Total number of shipwrecked persons succored at stations..
Total niamber of days' succor afforded
Total number of vessels lost
LIII
20
532
1?319
64
Besides the persons saved from vessels as above shown, there were
.21 rescued who had fallen from wharves, piers, &c., and would probably have been lost but for the assistance rendered.
The investigations held in each case of loss of life show that the lifesaving crcAvs did their entire duty, and that the persons who perished
were in every instance beyond human aid.
The cost of the maintenance of the service during the year has
been $766,834.64.
Five new stations have been established and put in operation since ^
the date of thelast report: One at Brenton's Point, Rhode Island; one
at Lewes, Del.; one at North Beach, Maryland; one at Wallop's Beach
and one at Parramore's Beach, Yirginia. A station has also been rebuilt at Barnegat City, and another at Chadwick's, both on the coast of
New Jersey. A station at the mouth of Portage Lake and Lake Superior Ship-Canal, Michigan, is also in process of construction, and five
houses of refuge on the Florida coast are under contract for buildings
Proposals have also been invited for the construction of a station near
Charleston, S. C , another at Jupiter Inlet, Fla., and a third at Santa
Rosa Island, Fla. Titles have been secured to twelve sites on different
X3arts of the coast, and preparations are being made for the establishment of stations thereon.
MARINE-HOSPITAL SERVICE.
During the last fiscal year 44,751 X3atients received relief—13,078 were
treated in hospitals, and 31,673 at the dispensaries. The usual number of surgical appliances and orders for transx3ortation were furnished.
The receipts from all sources were $421,348.59, and the expenditures,
$465,387.45. This includes $37,460.08 expended for extraordinary
alterations and repairs upon hosx3ital buildings. Of the hosxiital
patients treated, "8,954 recovered, 2,718 Avere improved, 665 remained
unaffected by treatment, and 489 died. There were 2,707 persons
physically examined by officers of this service at relief stations, some
of them preliminary to shipment in the merchant marine and enlistment in the Revenue-Marine, Light-House, and Life-Saving Services.
The larger number (1,850) were applicants for pilots' licenses, examined
for color-blindness, of whom 41 were rejected for this defect. The examinations for pilots should be extended to acuteness of vision and
hearing, which are as important defects as color-blindness. The gen-
' LIV
REPORT OF THE SECRETARY OF THE TREASURY.
eral condition of the hosx3ital buildings has been imx3roved during the
year, and of the new hosx3itals in course of construction the one at
Memphis has already been occupied, and those at New Orleans, Cairo,
and Cincinnati, will probably be occux3ied before the close of 1884;
but additional apx3rox3riations are needed for the completion of the hospitals at New Orleans and Cairof
The recommendations heretofore made for the establishment of a
National Snug Harbor, or Sailors' Home, are also renewed.
The recommendation of the Surgeon-General for the X3urchase of the
Seamen's Retreat property at Staten Island, New York, as recommended by my predecessor, which recommendation was subsequently
adox3ted by the Committee on Commerce of the X3resent Congress,
(Report No. 1039,) is respectfully renewed, and early action on the
part of Congress is suggested. Without action the service at New York
will x3robably be without a hospital when the lease of the building terminates, in May next. A return to the old contract system, formerly
in vogue at that port, would, in my judgment, be highly injurious to
the service.
Of the two apx3ropriations '' for preventing the spread of epidemic
diseases," of $100,000 each, under the acts approved August 7, 1882,
March 3, 1883, and July 7, 1884, the available balance on hand is
$65,000. The ax3X3ropriation has been expended in the maintenance of
quarantine in the manner set forth in former reports.
The immunity which this country has enjoyed from a visitation of
ex3idemics during the past year may be x3roperly attributable as well
to the vigilant and efficient work x3erformed by the various branches of
service in this Department, acting conjointly Avith the Department of
State, as to those natural causes which may have retarded the movement of epidemic diseases.
The Dex3artment, in X3ursuance of the proclamation of the President,
dated July 19, 1884, directing extreme Adgilance in measures forthe
preventionof the introduction of contagious diseases, among other precautions, has issued various orders providing for the restriction and
temx3orary prohibition of the importation of old rags and of the admission of baggage of immigrants and returning travellers froin infected countries.
•
In view of the recent outbreak of cholera in France, this subject has
assumed great imx3ortance, both as affecting the health of the country
and the interests of those engaged in the importation of rags and the
manufacture of X3aper. Doubt has been exx3ressed whether, under existing laws, sufficient authority is vested in any Department to prevent the
REPORT OF THE SECRETARY OF THE TREASURY.
LV
imx3ortation of infected merchandise. It is recommended that such
legislation be provided as may be deemed prox3er to protect our country
from the introduction of contagious diseases through its foreign commerce.
The item in the Book of Estimates providing for an inspection of
foreign quarantines and maritime hospitals is ax3proved, in the belief
that an examination of the methods emx3loyed by the enlightened nations of the world would be of benefit to this Department in devising
and carrying out quarantine measures in this country.
It apx3ears that the tonnage-tax which is now appropriated for the
support of the Marine-Hosx3ital Service is insufficient, and an appropriation is asked to supply the deficiency.
STEAMBOAT-INSPECTION SERVICE.
Statistics of this service for the last fiscal year:
steamers
inspected.
Divisions.
Pacific coast
Atlantic coast
'Western rivers
Northern lakes
Gulf coast
;
Total
Tonnage.
Officers
licensed.
387
2,457
936
1,296
377
99,533.40
461,642.20
184,231.34
257,083.13
70,861.43
1,752
9,899
5,476
5,410
2,311
5,453
1,073,351.50
24,848
Increase in number of vessels inspected
Decrease in tonnage*
Increase in number of officers licensed
120
261,580. 54
1, 556
Eeceipts.
From inspection of steam-vessels...
F r o ^ sales of licenses
From sales of locks
$171,340 60
12,424 00
10 00
Total...
183, 774 60
Expenses.
Salaries of inspectors and clerks
$206,218 56
Travelling and miscellaneous expenses........
41, 585 45
Marshal and witness fees.
1,319 45
Total
Excess of expenditures over receipts
•^ Decrease caused by reduction from gross to net tonnage.
249,123 46
65,348 86
LVI
REPORT OF THE SECRETARY OF THE TREASURY.
Accidents resulting in loss of life, and number of lives lost during^
the fiscal year:
0
CO
Character of accident.
'r4
1o
B
i
>
Explosions or accidental escape of steam
Collisions
Fires
Snags, wrecks, and sinking
Accidental drowning
Miscellaneous causes
;
11
18
3
1
30
36
14
139
44
8
33
"^71
?84
;...;
Total
Number of lives lost in 1883
13
Decrease in 1884
Inspection of foreign steam passenger vessels under the act of Congress
approved April 5, 1882.
At
At
At
At
At
At
New York, (including twenty-one inspections on the lakes).....
Boston, (including eight inspections at Portland, Me.)
Philadelx3hia, (including eighteen inspections on the lakes)
Baltimore, (including two inspections at Newport News)
New Orleans
San Francisco
^
,
Total number of steam-vessels inspected
148
28
23
11
66
222
The expenses for this service have been as folloAvs:
For salaries
For contingent expenses....
;
Total
$34,277 00
3, 319 05
37,596 05
LIGHT-HOUSE ESTABLISHMIilNT.
The Light-House Board reports that it has established,, under due
Congressional authorization, 19 new light-stations, and discontinued 2,
thus increasing the whole number on the United States coasts from
the 755 reported last year to 772 at the end of the last fiscal year:
The number of movable river lights was increjised from 972 to 1,049,
making an increase of 77 during the fiscal year. Another steam fogsignal was established, making the present number 67, including those
operated by hot air. Two new whistling buoys Avere placed in position,
making the whole number 34. Six bell buoys Avere added to the 23 in
place at the end of last year, making the present number 29, and 2
lighted buoys, which were placed on the shoals off Cape Charles and
REPORT OF THE, SECRETARY OF THE TREASURY.
LVII
Cape Hatteras, make their first appearance on the light-house list.
There were 54 more ordinary buoys, including the 14 placed in Alaskan
waters, added to the list, increasing the number from 3,422 at the end
of last year to 3,476 at the end of this year.
The Board has finally succeeded in constructing and putting into^
effective operation a lamp for first-order lights, in which mineral instead of lard oil can be burned, and it now has in use, practically, but.
the one illuminant throughout the service.
The Board has also, after surmounting many difficulties, succeeded
in establishing an electric light at Hell Gate, N. Y., which, on t h e
night of October 20, 1884, was lighted for the first time. It is the only
one used in the light-house operations of any country for illuminating^
as by artificial daylight, a narrow channel.
The commerce of our country is to be congratulated on the high;
stand taken by our Light-House Establishment among those of other
countries, as shown by the medals and diplomas awarded the Board at
the various international exhibitions where it has shown its apparatus^
and its methods.
Attention is called to the statement made by the Light-House Boardy,
in its annual rex3ort, 'as to the inconvenience to which it is now subject, and as to its need of a special building for its museum, its laboratory, its archives, and its office. The rooms in the Treasury building:
now occupied by the Board are much needed for other purposes, while
the Board can go elsewhere without serious detriment to its business or
that of the Department. The Board is now so cramped for room that
its archiA^es are not readily accessible, and are not as safely kept as they
should be. Its clerks are seated so closely that they have not sufficient
room, and as it was not designed to put so many people in any one
room, they suffer in health and the work they are engaged upon is in.
consequence delayed.
The models of the ,structures it has built, which are needed in studies^
for new structures, are inaccessible, both to the Board and to the scientific public, for lack of room in which to arrange and display them.
All the experiments of the Board have to be made at the laboratory at
Staten Island, because of the lack of room for a laboratory here, thus occasioning much expense and delay, and sometimes rendering desirable
experiments practically impossible.
^ The Secretary is, therefore, of the opinion that proper appropriation
for a building for the Light-House Board should be made at an early
day.
The annual report of the Board contains full details of the work dpne^
during the last fiscal year.
LVIII
REPORT OF THE SECRETARY OF THE TREASURY.
COAST AND GEODETIC SURVEY.
Developments and discoA^eries having an important bearing upon
the interests of commerce and navigation have been made during the
ox3erations of this service. Prompt information has been given of
these discoveries by the publication of '' notices to mariners.'' Tide
tables for the ports on the Atlantic and Pacific coasts have been published for 1885; progress has been made in the publication of the Atlantic Coast Pilot, and a new edition of the Pacific Coast Pilot is nearly
ready for the press. A table of depths has been published for the harbors of the coasts of the United States.
Twenty-four new charts have been published, and the drawings of
forty more have been in progress. Distribution has been made of
33,638 charts, of which number 12,248 were for the use of the Governxaent.
The field-work of the Survey has made progress commensurate with
the ax3propriations^ In his report herewith submitted, the Superintendent renews his recommendation for an increase in the amount
iavailable for field parties. This recommendation met with the approval of the Department last year, being based on grounds of a reasonable economy, and the increase asked for being demanded by a fair
consideration of the growth and development of the country. It is
again commended to the favorable attention of Congress. The efficient conduct of this work will, in the judgment of the Department,
be promoted by more liberal appropriations.
PUBLIC BUILDINGS.
During the last year work has been in progress on forty-two new
buildings, under the direction of the Supervising Architect, of which
number sixteen have been commenced, five completed, and two others
practically completed.
The expenditures during the year on all new buildings, including
.«ites, have amounted to $2,772,413.58 ; for repairs and preservation of
X3ublic buildings, $164,102.32; for heating, hoisting, and ventilating
apparatus, and repairs to same, $135,000; for vaults, safes, and locks,
-$80,362 ; and for storage of silver dollars, $85,402.32.
The Supervising Architect, in his annual report, refers to three conditions which, under provisions of existing law, operate to the disadvantage of the Government^ viz:
1. The limit of cost of public buildings ax3pear in many cases to
have been fixed without sufficient regard to the needs of the public
^service in cities where the buildings are to be constructed.
R E P O R T OF T H E SECRETARY OF T H E TREASURY.
LIX
2. The appropriations made from time to time within the limits of
cost are often inadequate for the proper prosecution of the work after
its commencement.
3. Under existing law, no contract can be made binding the Government to an expenditure in excess of an existing appropriation.
The remedies suggested by the Supervising Architect commend
themselves to my judgment.
HALL OF RECORDS.
Attention is called to the paragraph in the annual report of last year
relating to the necessity for the construction of a building for the safe
and convenient storage of the files and records ofthe several Departments. This maitter is of such grave importance that I recommend the
construction of a building for this purpose at the earliest practicable
date.
THE PACIFIC RAILROADS.
I earnestly direct attention to the provisions of the act of May 7,
1878, creating a sinking-fund for the Union Pacific and Central Pacific
Railroad Comx3anies, in the hope that Congress may devise a method
for a more judicious investment of that fund. The law now requires
the fund to be invested in bonds of the United States; and in making
such investments the five per centum bonds are to be preferred, unless,
for good reasons appearing to him, and which he shall report to Congress, the Secretary of the Treasury shall at any time deem it advisable
to invest in other bonds of the United States. The five per centum
bonds have all been redeemed or have ceased to bear interest, and while
it would be manifestly unjust to select for investment the three per
centum bonds only to be called in for redemption at short intervals
thereafter, the only alternative is investment in the higher-rate bonds
which UOAV sell in the market at prices ranging from 13 to 28 per
centum premium.
I deem the plan recommended by Secretary Sherman, in a communication to Congress, in December, 1879, and again in June, 1880, that
investment be made in the first-mortgage bonds of the companies,
worthy of the consideration of Congress.
The amounts standing to the credit of the fund available for invest-'
ment on November 1, 1884, are as follows :
For the Union Pacific Railway Company......
For the Central Pacific Railroad Company
Total
$2, 600, 023 85
1, 812,435 91
4,412,459 76
LX
R E P O R T OF T H E SECRETARY OF T H E
TRIEASURY.
The attention of Congress is also invited to the act of March 3,1879^.
(20 Stat., x^. 420,) relating to transportation services performed for the
Government by the Pacific Railroad Companies, the terms of which
should be so modified as to embrace all services Avhich have been, or
may be hereafter, performed for the Government, and also include in
its proAdsions the Central Branch Union Pacific Railroad Company.
DISTRICT OF COLUMBIA.
The net expenditures on account of the District of Columbia for the
fiscal year 1884, were $3,407,049.62. The revenues deposited in the
Treasury bn this account for the same period were $1,970,726.13.
Since December 1, 1883, there has been retired through the operation of the sinking-fund, $264,700 of the bonded indebtedness of the
District, reducing the amount annually required for interest $15^432.55.
Since the duties of the commissioners of the sinking-fund of the
District of Columbia Avere devolved on the Treasurer of the United
States by the act of Congress of June 11, 1878, there has been retired
$1,640,050 of the funded debt, causing a reduction in the annual interest charge of $96,286.22.
The amount realized from the sale of the bonds in which the ten per
centum retained from contractors in the District of Columbia was invested as required by the act of June 11, 1878, (20 Stat., 106,) has
exceeded the sum necessaryto pay the amounts originally withheld,
owing to the adA^ance in the securities in which the investments Avere
made. The surplus has been covered into the Treaisury as miscellaneous
receipts on account of proceeds of sales of guarantee-fund. District of
Columbia, to be hereafter disposed of as Congress may direct. Onehalf of the amount originally retained was paid by the United States,
and one-half by the District of Columbia.
ALASKA.
The Alaska Commercial Company took during the present season
100,000 seal-skins on the islands of Saint Paul and Saint George, the
maximum number allowed by law, of which 94,960 have been shipped
to San Francisco and the tax thereon paid, the rest still remaining on
the islands awaiting shipment. The company has x>aid its annual
rental and otherAvise performed the conditions of its lease,
A STATUTE OF LIMITATIONS ON CLAIMS.
The necessity of legislation for the adjudication of claims coming
within thejurisdiction of this Department has frequently been urged,
and is again brought to the attention of Congress in the belief that
REPORT OF THE SECRETARY OF THE TREASURY.
LXI
some limitation of time will be adopted within which such claims shall
be presented for settlement.
The enactment of a measure similar to the one introduced in the
House at the last session of Congress, (H. R., 7235, section 2,) will, it
is believed, relieve the accounting officers of much importunity on the
part of claimants, and dispose of difficulties which have hitherto stood
in the way of a final disposition of niany of these claims.
The several reports of the heads of offices and bureaus are herewith
transmitted.
H U G H McCULLOCH,
Secretary.
To the Honorable
T H E SPEAKER OF T H E H O U S E OF REPRESENTATIVES.
TABLES ACCOMPANYING THE EEPOET.
1-2
5023 SEO
R E P O R T O F T H E SECEETARY OF THE TREASURY.
T A B I . E X.—STATEMENTof tlie NET BECEIPTS {hy warrants) during the fiscal
year elided Junt 30, 1884.
Quarterended Septeinber30, 1883...
• Qnarter ended X)ecember 31, 1883
Quarter ended March 31, 1884
Quarter ended Jime 30, 1884
;
CUSTOMS.
$57,402,975 67
43, 660, 280 68
50,221,598 84
43,782,634 57
:
$195, 067, 489 76
INTEKNAL REVENUE.
Quarter ended
Quarterended
Quarterended
Quarter ended
September 30, 1883
December 31, 1883
March 31, 1884
June 30,1884
.:
29,662,078 60
31,152,817 67
26,686,466 58
34,084, 709 66
.'
t
121,586,072 51
SALES OF PUBLIC LANDS.
Quarter ended September 30, 1883
Quarterended December 31, 1883
Quarter ended March 31, 1884
Quarter ended June 30,1884
Quarter ended
Quarterended
Quarter ended
Quarter ended
2, 932, 635 17
2,866,606 95
2,163,670 26
1,847,792 63
.
T A X ON CIECULATION O F NATIONAL BANKS.
Septeraber 30, 1883
1, 557, 800 88
December 31, 1883
5,997 30
March 31, 1884
1, 539, 035 96
June 30,1884
5, 895 99
Quarterended
Quarterended
Quarter ended
Quarterended
September 30, 1883..
December 31, 1883
March 31, 1884
Juue 30,1884
.
9,810,705 01
3,108, 730 13
REPAYMENT OF INTEREST BY PACIFIC RAILROAD COMPANIES.
'
....
250,962 24
603,371 54
334,927 14
182,102 29
1,371, 363 21
CUSTOMS FEES, FINES, PENALTIES, AND FORFEITUBES.
Quarterended September 30, 1883
298,696 78
Quarterended December 31, 1883
306,153 27
Quarter ended March 3J, 1884
:
221,364 89
Quarter ended J une 30,1884
248, 450 52
-_
^
1, 074, 665 46
PEES, CONSULAE, LETTEBS PATENT, AND LAND.
Quarterended September 30, 1883
t
863,209 80
Quarterended December 31, 1883
:
817,565 26
Quarterended March 31, 1884
726,317 77
Quarter ended Juue 30, 1884
841,844 74
— 3,248, 937 57
PBOCEEDS' OF SALES OF GOVEBNMENT PBOPEBTY.
Quarterended September 30, 1883
112,562 23
Quarterended December31, 1883 .197,805 35
Quarter ended March 31, 1884
70,402 37
Quarter ended June 30,1884
165,864 79
^
546, 634 74
PROFITS ON COINAGE.
Quarterended September 30, 1883
950,229 46
QuarterendedDecember31, 1883 . . ; . . .
779,109 34
Quarter ended March 31, 1884
1,872,226 85
Quarter ended June 30,1884
649,043 65
_
4,250, 609 30
BEVENUES OF DISTBICT OF COLUMBIA.
Quarter ended September 30, 1883
256,017 99.
Quarterended Deceml>er 31, 1883
902,742 40
Quarter ended March 31, 1884
.155, 387 23
Quarter ended J une 30,1884
656,578 51
, 1,970,726 13
MISCELLANEOUS.
Quarterended September 30, 1883.-.
1,679,748 21
Quarterended December 31, 1883
1,340,790 91
Quarterended March 31, 1884.
961,335 22
Quarter ended June 30,1884
2,502,061 76 •
6, 483, 936 10
Total ordinary receipts
Cash in Treasury June 30, 1883
Total
f.
,,,,
348,519,869-92
346,088,937 07
694,608,806 99
REPORT OF THE SECRETARY OF
THE TREASURY.
T A B I i i : M.—STATEMENT of the NET DISBt/BSEMENTg (hy warrants) during
the fiscal year ended June 30,, 1884.
CIVIL.
Congress
Executive
Judiciary
Government in the Territories
Subtreasuries
Publi'c-land offices
:
Inspection of steam-vessels
Mint and. assay offices
-
.-
$6,219,528 65
10, 615, 924 48
3,507,51760
261,191 48
362, 700 30
827,500 91
279,490 78
239, 053 51
Total civil.
FOREIGN INTERCOURSE.
Diplomatic salaries
...>...
Consular salaries...
•
...'
Contingent expenses of foreign missions
Conliugeucies of cousulates
PrisoDS for Araerican convicts
Expnnses under the neutrality act
Publicati -n of consular and coraraercial reports
Araerican and French Clairas Commission
Interuational Fishery Exhibition of 1883 at Londdn . 1 . . . :
Expenses Court of Alabama Claims
Miscellaneous.
$22,312,907 71
267,845 39
486.424 09
90,678 49
117, 441 85
14, 794 02
.25, 993 80
18.435 42 ^
46,154 38
10, 000 00
181, 406 00
1, 598 93
Total foreign intercourse
, MISCELLANEOUS.
Mint establishmeut
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 bf public buildings
Pay of assis ant custodians and janitors for public buildings.
Fuel, lights, and water for public buildiugs
Furniture and Iv-ating appat atus for public buildings
Vaults, safes, and locks, aud plans for public buildings.."
Storage of silver
•
Collectin g revenue from customs
Detection aud prevention of frauds on customs revenue
Refuuding excess of deposits, &c
Debentures and drawbacks under customs laws.
Corapensation in lieu of moieties
Expeuses of regulating imraigration
,.
Inspection of neat cattle shipped to foreign ports
Assessing and collecting internal reven ue
Internalreven ue staraps, paper, and dies ..
Rederaption of internal-revenue stamps
«...
Punishing violations of internal-revenue laws
Refunds, reliefs, &c., under interual-revenue laws
Allowance or drawback under internal-revenue laws
Rebate of tax ou tobacco
..<....
Payraent of judgments, Court of Claims
,
Preventing the spread of epidemic diseases
Expenses of national currency
.,
Distinctive paper for United btates securities
Suppressiig counterfeiting and other crimes
Propagaiion, &c., df food-fishes
Expenses under Sraithsonian Institution
Contingent expenses independent Treasury
Sinking-fund, Pacific railroads
'.
Mail transportation. Pacific railroads
Expenses of the District of Colurabia
•.
Charitable institutions, Distiict of Columbia
;
Washington Aqueduct
Waterfund, Districtof Columhia
1
Increasing water supply of Washington, D . C .
.'.
"
Refunding taxes, District of Columbia
Special trust funds, Dietiict of Columbia
__ New engine-house for- engine No. 5
•
Furniture, &c., huildings, Colurabia Hospital for Women
:
Buildings, Reform School
Buildiugs and grounds in Washington nnder chief engineer
State,- War, aud JMavy Departments building
'
Furniture, &c., for State, War, and Navy Departments building
Fuel, lights, &c., for State, War, and JSTavy Departments building
Corapletion of Washin.gton Monuraent
1
Various monuments and. statues
Support and treatment of transient paupers
^
Department of A griculture.
<,
1, 260, 766 37
1, 054, 572 37
811,968 19
930,216 97
478, 153 96
639, 419 00
2, SW, 549 .57
465,387 4 5 2,989,210 66
149, 673 31
339,156 48
465, 701 07
438,143 82
76, 599 90
84,165 55
6,709,485 76
66, 482 65
5,063,806,37
3, 651, 013 74
30,209 54
235, 443 86
' 47, 574 70 .
4, 216, 885 87
464, 382 57
294, 601 54
54, 624 64
39, 986 34
51,249 04
3,535,049 42
33,999 55
54, 967 54
23, 617 35
35, 000 00
61, 266 50
220, 977 59
'81,803 78
63,07133
1,' 127,125 00
" 915, 868 29
3,178, 232 73
208, 816 89
20, UOO 00
106, 744 13
312,911 24
2,02173
11, 266 51
2,105 00
5, 000 00
7, 500 00
129, 258 29
434, 549 34
10,000 00
34, 000 00
176, 000 00
63, 360 53
15, 000 00
425,170 ^5
IlfiPORT OlF TfiE SECRETARY OF TfiE TREASURY.
T A B I . E -^.—STATEMENT ^of ihe NET DISB UBSEMENTS {by ivarrants) during
the fiscal year ended June 30, 1884—Continued.
Capitol building and grouuds
Interior Depaitment building
Pension Otiice huilding
Government Hospital for Insane
f
Columbia Institution for Deaf andDumb
Freedmen's Hospital and Asylum
Howard University
National Museum
:
Expenses of Tenth Census
Surve.viug nublic and piivate lands
Geological Survey
Yellowstone .National Park.
Hot Springs Reservation, Arkansas
Deposits by individuals for surveying public lands
Repuyment for lands erroneously sold Swamp lands and swamp-land indc-mjiity
Depi-edations on public lauds
Protecting public lands
Five, three, and two per cent, fund to States
Photolithographing, &c., PatentOffice
Miscellaneous items
$147, 923 10
62, 560 00
188,996 34
304, 666 11
58,000 00
46, 671 63
18,500 00
162. 612 82 /
133, 793 80
563, 267 17
306, 585 13
40, 000 00
89, 490 44
1,116,331 92
32, 699 64
48, 988 53
85,-229 98
-87,278 45
289,491 28
102,188 30
38,136 97
•.
Total miscellaneous
$47, 346.759 62
INTERIOR DEPARTMENT.
Indians
Pensions
Total Interior Department
6,47.5,99929
55,429,228 06
•.
61, 905, 227 35
MILITARY ESTABLISHMENT.
Pay Departraent
• Pay Departraent, bounty and miscellaneous
Commissary Departraent
Quarterraaster's Department
.'
Medical Department.
Ordnance Department
Military Academy
.Iraproving rivers and harbors
Fortifications
Construction of military posts, roads, &c
:
:
National ceraeteries: roads, &c
Purchaseof the Arlington estate
Mississippi River Conimission
Expenses of recruiting
Contingencies of the Army
Signal Service . . . . :
r
Expenses of militarv convicts —
Publication of Official Records ofthe War of the Rebellion
Miscellaneous surveys
.'
Suppoi t of National Home for Disabled Volunteer Soldiers
Supportof Soldiers' Home
-.-'"Support of railitary prison, P'ort Leavenworth, Kans
Relief of sufferers from overflow of Ohio and Mississippi Rivers.
Miscellaneous iteras
:.
11, 761, 455 82
544, 811 58
1, 420, 654 30
10, 856, 035 19
372, 599 18
1, 956. 986 85
89, 931 84
8, 228, 703 54
285, 540 73
350, 905 34
187, 760 53
25,000 00
150, 000 00
95, 832 27
19, 298 34
810, 507 26
7, 218 53
37,416 51
16,199 70
1,122, 088 03
48.5,534 66
93, 412 25
497, 262 96
14,447 95.
Total railitary establishment
/'..
NAVAL ESTABLISHMENT.
'.-.
General account of advances
Pay and contingencies of the Navy
MarineCorps
NavalAcademy
•
Navigation
Ordnance
'....:..Equipment and Recruiting
Yards and Docks
Medicine and Surgery
Provisions and Clothing
Construction and Repair..
:
Steam Engineering
Increase of the Navy
Miscellaneous
/.
:
,
•
Total naval establishment
Interest on the public debt
588,604 56
7, 380; 371 55
841.943 35
180,181 70
155,132 60
316,126 09
865, 892 31
869,886 25
. 164,083 99
942,223 79
1,370,325 82
1,083,587 00
1,794, 597 75
739,644 68
l
Total net ordinarv expenditures
Redemption of the public debt
Total
17, 292, 601 44
64,578,378 ,48
•..
....
Total expendi tures
Cash in Treasury June 30,1884
'.
244,126, 244 33
53,642,804 50
297, 769, 048 83
396,839,758 16
-.
......oo
39,429,603 36
i....
694,608,808 99
G
REPORT OF T i t E SECRETARY OF THfi
TREASURY.
T A B I . E ^.—STATEMENT of the ISSUE and B E D E M P T I O N of LOANS and
TBEASUBY NOTES {by ivar ranis) for the fiscal year ended June 30, 1884.
Isshes.
L o a n of 1858, a c t of J l i n e l4,1858
L o a u of F e b r u a r y , 1861, a c t of F e b r u a r y 8, 1861
:
Oregon w a r debt, a c t of M a r c h 2,1861.
S e v e n - t h i r t i e s of 1861, a c t of J u l y 17,
1861
L o a n of J u l y a n d A u g u s t , 1861, a c t s
of J u l y 17 a n d A u g u s t 5,1861
Old d e m a n d notes, a c t s of J u l y 17
a n d A u g u s t 5, 1861, a u d F e h r u a r y
12,1862
,
'....
F i v e - t w e n t i e s of 1862, a c t of F e b r u a r y 25, 1862 . ;
L e g a l - t e n d e r n o t e s , a c t s of F e b r u a r y
25 a.nd J u l y 11,1862, J a n u a r y 7 a n d
M a r c h 3,1863
$85, 948, 236 00
F r a c t i o n a l c u r r e n c y , a c t s of J u l y 17,
1862, M a r c h 3, 1863, a n d J u u e 30,
1864
Coin certificates, a c t o f M a r c h 3,1863
41.470, 000 00
One-year n o t e s of 1863, a c t of M a r c h
3,1863
T w o - y e a r n o t e s of 1863, a c t of M a r c h
3,1863
C o m p o u n d - i n t e r e s t n o t e s , a c t s of
M a r c h 3, 1803, a n d J u n e 30, 1864
L o a n of 1863, a c t s of M a r c h 3, 1803,
a n d J u n e 30, 1864
T e n - f o r t i e s of 1864, a c t of M a r c h 3,
1864..."
•
F i v e - t w e n t i e s of J u n e , 1864, a c t of
J u n e 30, 1864
..
S e v e n - t h i r t i e s of 1864 a n d 1865, 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 i e s of 1865, a c t of M a r c h
3,1865
Consols of 1865, a c t of M a r c h 3, 1865..
Consols of 1867, a c t of M a r c h 3,1^65..
Consols of 1868, a c t of M a r c h 3, 18u5..
F'unded loan of 1881,acts of J u l y 14,
1870, J a n u a r y 20,1871, a n d J a n u a r y
14,1875
•
..'..
F u n d e d loau of 1907, a c t s of J u l y 14,
1870, J a n u a r y 20,1871, a n d J a n u a r y
14,1875
......
75, 400 00
Certificates of deposit, a c t of J u n e 8,
1872
26, 855, 000 00
Silver certificates, a c t of F e b r u a r y
28,1878
51, 200, 000 .00
B e f u n d i n g certificates, a c t of F e b r u ary 26,1879...
L o a n of 1882, a c t of J u l y 12, 1882
1,329,250 00
Total.
E x c e s s of r e d e m p t i o n s
E x c e s s of i s s u e s
N e t e x c e s s of r e d e r a p t i o n s c h a r g e d
in r e c e i p t s a n d e x p e n d i t u r e s
206, 877, 886 00
Bedemi)tioh8.
Excess hf
issues.
iExcess of
redfemptidns;
$5, 000 00
$5, OOO 00
55, 000 00
55, 000 00
650 00
650 00
-
400 00
400 00
768, 900 00
768, 900 00
545 .00^
545 00
4, 350 00
4, 350 00
85, 948, 236 00
20, 029 ,30 $16, 014, 020 00
25, 455, 980 00
20, 629 50
1, 200 00
1, 200 00
800 00
800 00
5, 960 00
5, 960 00
451, 250 00
451, 250 00
72, 300 00
72, 300 00
1^ 000 00
1, 000 00
3, 350 00
3, 350 00
1,200 00
. 65, 400 00
178, 850 00
21, 700 00
1,200 00
65,400 09
178, 850 00
21,700 00
34, 727, 350 00
34, 727, 350 00
75,400 00
27, 845, 000 00
20, 005,140 00 31,194, 860 00
65, 900 00
64, 814, 600 00
260, 520, 690 50 47, 284, 280 00
65, 900 00
63, 485, 350 00
100, 927, 084 50
100, 927, 084 50
47, 284, 280 00
53, 642, 804 50
'REPORT OF THE SECRETARY OP THE TREASURY.
7
T A B L E -m.—STATEMENT of the net B E C E I P T S and DISBUBSEMENTS {hy
ivarrants) for the quarter ended Septembei^ 30, 1884.
BECEIPTS.
Custoras
Sales of public lands
IntGTnal revenue
Tax on circulation of national banks
Bepavraent of interest by Pacific Railroad Companies
Customs fees, fines, penalties, and forfeitures
Consular, letters patent, homestead, &c., fees
Proceeds of sales of Govei nraent property
Profits on coinage, &c.
Miscellaneous
'
Total net ordinary receipts
Issue of ceri ificates in excess of redemptions
Balance in the Treasury J une 30, 1884
Total
$54,102,858 65
1,446,187 88
28, 630, 016 7'6
1, 474,132 14
709,171 88
276, 344 68
i.
910,243 29
55,132 96
1, 927, 644 70
' 2,178,422 56
91,710,149 50
8,423, 349 05
396,839,758 16
::
496,973,256 71
DISBUBSEMENTS.
Customs
Internalrevenue
Diplomatic service
Quarterly salaries
Treasury proper
Judiciary
Interior'(civil)
6,417,237 03
1,234,183 10
504, 081 50
117, 148 71
9,428,841 00
1,222,966 62
2,326,838 78
Total civil and miscellaneous
Indians
Pensions
Mihtarv establishment
Naval establishment
Interest on public debt
Judgments, Court of Alabama Claims
Total net ordinarv expenditures
Balance in Treasury September 30, 1884...
Total...
:
1
:
21, 251,296
1,995,942
14,951,525
13,049,465
4,289,798
13,809,410
2,749,288
74
22
96
86
17
97
02
72,096.727 94
424,876,528 77
496,973,256 71
8
REPORT
OF T H E
SECRETARY
OF
THE-TREASURY.
T A B I . E Wl.—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 T E s on the 1st of Jannary of each year from 1791 to 1843,
inclusive, and on the \st of July of each year from 1843 to 1884, inclusive.
Year.
Jan. 1, 1791.
1792.
1793.
1794.
1795.
1796.
1797.
1798.
1799.
1800.
1801.
1802.
1803
1304,
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
Araount.
Vear.
$75, 463,476 52 Jau. 1, 18391
77, 227, 924 66
1840.
80, 352, 634 04
1841.
78, 427,404 77
1842.
80, 747. 587 39
1843.
83, 762,172 07 July 1, 1843.
82, 064, 479 33
1844.
79, 228, 529 12
1845.
78, 408, 669 77
1846.
82, 976, 294 35
1847.
83, 038, 050 80
1848
80, 712, 632 25
1849.
77, 054. 686 30
• ,1850
86, 427,120 88
1851.
. 82,
312,150 50
1852,
75, 723, 270 66
1853.
69, 218,398 64
1854.
65, 196, 317 97
1855,
57, 023,192 09
1856
53, 173, 217 52
1857.
48, 005, 587 76
1858.
45, 209, 737 90
1859.
55, 902,827 57
1800.
81, 487, 846 24
1861
99, 833, 660 15
1862.
127, 334, 933 74
1863.
123, 491,965 16
1864.
103, 466,633 83
1865.
95, 529, 648 28
1866.
91, 015,566 15
1867.
89, 987, 427 66
1868
93, 548, 676 98
1869.
90, 875, 877 28
1870.
90, 269, 777 77
1871.
83, 788, 4S2 71
1872.
81, 054, 059 99
1873.
73. 987, 357 20
1874.
67, 475, 043 87
1875.
58i 421, 413 67
1876.
48, 565. 406 50
1877.
39. 123,191 68
1878,
24, 322, 235 18
1879.
7, 001,698 83
1880.
4, 760, 082 08
1881,
37, 733 05
1882,
37, 513 05
1883.
336, 957 83
1884,
308,124 07
Amount.
$10,434,221 14
3, 573,343 82
5, 250,875 54
13,594,480 73
20, 601,226 28
32, 742,922 00
23,461, 652 50
1.5,92.5. 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 7-2
524,176, 412 13
119. 772,138 63
815,784, 370 57
680, 647.869 74
773, 2,36,173 69
678,126, 103 87
611, 687,8.51 19
588, 452,213 94'
480, 672,427 81
353,211, 332 32
253, 251,328 78
234, 482,993 20
251, 690,468 43
232, 284,531 95
180, 39.1,067 15205, 301,392 10
256, 205,892 53
349, 567,482 04
120,41.5, 370 63
069,013, 569 58
918,312, 994 03
884,171. 728 07
830, 528,923 57
* I n the amount here stated as tho outstanding principal of the public debt are included the certificates of deposit outstanding on the 30th of June, issued under act of June 8, 1872, for which alike''
amount in United States notes was on special deposit in tho Treasury for their redemption, and added
to tlie 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 for their redemption, should properly be
deducted from the principal of tbe public debt in making comparison with former years.
REPORT OF THE SECRETARY OF THE TREASURY.
^
9
•STATEMENTof the PUBLIC DEBT, including ACCRUED INTEBEST thereon, less
cash in the Treasury on the 1st day of July of each year, from 1869 to 1884, compiled from
the published monthly debt-statements of those dates.
' Years.
July 1,1869.
1870.
1871,
1872.
1873.
1874.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
18^2.
1883.
1884.
Outstanding prin- Accrued intercipal.
est.
Cash in the
Treasury.
Debt less cash in
the Treasury.
*$2, 597,722. 983
*2, 601, 675,127
2, 353, 211,332
2,253,251, 328
2, 234, 482,993
2, 251, 690,468
2, 232, 284,531
2,180. 39.5,067
2, 205, 301,392
2, 256, 205,892
2, 349, 567,482
2,120, 415.370
2, 069, 013,569
1,918,312, 994
1, 884.171,728
1, 830, 528,923
$156,167, 813 58
26.5, 924,084 61
106. 217,263 65
103,470, 798 43
129, 020,932 45
147, 541,314 74
142, 24:3,361 82
119, 469,726 70
186, 025,9u0 73
256, 823,612'08
353,152, 577 01
201,088, 622 88
249, 363,415 35
243. 289,519 78
345, 389,902 92
391, 985,928 18
$2, 489, 002,480 58
2, 386, 358, 599 74
2, 292, 030, 834 90
2,191. 486, 343 62
2,147; 818,713 57
2,143, 088, 241 16
2,128. 688, 726 32
2, 099, 439, 344 99
2, 060, 158,223 26
2, 035, 786, 831 82
2, 027, 207, 256 37
1, 942, 172, 295 34
1, 840, 598, 811 98
1, 688, 914, 460 72
1, 551, 091, 207 48
1,450, 050,235 80
37
83
32
78
20
43
95
15
10
53
04
63
58
03
07
57
$47.447, 310
50, 607,5.56
45, 036,766
41,705, 813
42, 356.652
38, 939.087
38, 647,556
38, 514,004
40, 882,791
36,404. 551
30, 792,351
22, 845.547
20. 948,657
13, 890,986
12, 309,382
11, 507,240
79
52
23
27
82
47
19
54
89
37
34
59
75
47
33
41
*It will be noticed that there is a difference in the amounts represented by these two .statements as
to theprincipalof the debt July 1, 1869, and July 1,1870. . This difference is explained thus: In theprincipal ofthe debt as shown by the monthly debt-statements of these dates the bonds purchased for the
sinking-fund and paid for from money in the Treasury were included as a part of the outstanding debt,
and were also treated in the cash as a cash item or asset, for the reason that at that time theie was no
authority or law for deducting them frora the outstanding debt. Congress, by the sixth section of the
act of July 14, 1870, directed that these bonds should be canceled and destroyed, and deducted frora the
amount of each class of the outstanding debt to which they respectively belonged, and such deductions
were accordingly made on the books of the Department and in the table of the debt in the annual report.
T A B J L E T.—ANALYSIS of the P B I N C I P A L of the B U B L I C D E B T of the UNITED STATES, from July 1, 1856, to July 1, 1884.
Year.
1856
1857
18,58
1859
I860
1861
1862
1863.:
1864
1865
1865—August 31
1866
1867
1868
1869
1870
1871
;.
1872
1873
1874
1875
1876
1877
1878
1879
.
1880
1881
1882
1883
1884._.__
3J per cents.
3 per cents.
-
4 per cents.
4^ per cents.
•
$64, 000, 000 00
66, 125, 000 00
59, 550, 000 00
45, 885, 000 00
24, 665, 000 00
14, 000, 000 00
14, 000, 000 00
14, 000, 000 00
14. 000, 000 00
14, 000, 000 00
14, 000, 000 00
14, 000, 000 00
14, 000, 000 00
14, 000, 000 00
14, 000, 000 00 $460, 461, 050 66
318, 204, 350 00
32, 082, 600 00
238, 612,150 00
$57, 926,116 57
105, 629, 385 30
77, 547, 696 07
90, 496, 930 74
618,127 98
121, 341, 879 62
17, 737, 025 68
801, 361 23
678, 000 00
678, 000 00
678, 000 00
'678,000 00
678, 000 00
$140, 000, 000 00
98, 850, 000 00
240, 000, 000 00
741, 522, 000 00
250, 000, 000 00
739, 347, 800 00
250, 000, 000 00
739, .347, 800 (.0
250, 000, 000 00
739, 349, 350 00 . 250, 000, 000 00
737, 942, 200 00
250, 000, 000 00
737,951,700 00
250, 000, 000 00
5 per cents.
$3. 632, 000- 00
3,489.000 00
23, 538, 000 00
37 127, 8u0 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, 17.5,727 65
201, 982. 665 01
198,53.3,435 01
221, 586,185 01
221,588,300 00
221. 588, 300 00
274, 236, 450 00
414, 567, 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
508, 440. 350 00
484, 864, 900 00
439, 841, 350 00
•
6 per cents.
7 3-10 per cents.
Total interestbearing debt.
$31,762,761 77
$28. 130. 761 77
28-, 46u, 958 93
24.971.958 93
44,700, 838 11
21.162,838 11
.58, 290, 738 11
21.102,938 11
64,640.838 11
21,164,538 11
. 90, o80. 873 95
57. 358, 673 95
365 304 826 92
l.')4. 313. 225 01 *"$122,'582."485'34'
707, 531. 634 47
139, 974, 435 34
431,444.813 83
139, 286, 935 34 1. 359, 930, 763 50
842, 882, 652 09
2, 221, 311, 918 29
671,610,397 02
1,213,49.5,169 90
1, 281. 736, 439 33 830, 000, 000 00 2, 381, 530, 294 96
2,332 331, 207 60
813.460,621 95
1,195, .546, 041 (^2
488, 344, 846 95 . 2, 248. 067, 387 66
1,543,4.52,080 02
37, 397,196 95
2, 202, 088, 727 69
1,878.303,984 50
2, 162, 060 522 39
1, 874, 347, 222 39
2, 046, 45.5, 722 39
1,765,317,422 39
1,934 096 750 00
1.613, 897, .300 00
1, 814 794, 100 00
1, 374, 883, 800 00
1,710,483,9.50 00
1, 281, 2,38, 6.50 00
1, 738. 930, 750 00
1,213,624,700 00
1, 722, 676, 300 00
1,100, 865, .550 00
1,710,685,450 00
984, 999, 650 00
1,711,888,500 00
854,621,850 00
1, 794, 735, 650 00
738, 619, 000 00
1. 797, 643, 700 00
28.3.681,350 00
1,723,993,100 00
235, 780, 400 00
1, 639. 567, 750 00
196, 378, 600 00
1,463,810,400 00
1,338,229, 150-00
1, 226 563, 850 00
hi
O
O
QQ
a
O
'
QQ
d
T A B L E T . — A N A L Y S I S of the PBINCIBAL of the PUBLIC DEBT of the UNITED STATES, ^^c—Continued.
Year.
1856-Julyl...-.
1857
1858
1859
,
1860
1861
1862
1863
1864
1865
1865—August 31.
1866—Julyl
1867..
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878".
1879....
1880.
1881
1882
1883
1884
Debt on which in- Debt bearing no
terest has ceased.
interest.
776 13
872 92
042 92
099 77
449 77
999 77
195 21
048 16
335 86
771 20
020 09
092 05
615 01
340 89
181 00
641 00
902 26
797 26
710 26
590 26
820 26
420 26
860 26
560 26
630 26
4.55 26
865 26
805 26
415 26
205 26
$1,58,591,390 00
411, 767,456 00
45.5, 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 00
430, 530,431 52
472, 069.332 94
509, 543,128 17
411 69
• 498, 182,
465, 807,196 89
470, 764,031 84
455, 875,682 27
410, 835,741 78
388, 800,815 37
422, 721.9.54 32
438, 244,788 77
538,111, 162 81
584. 308,868 31
Outstanding prin- [Cash in the Treas- T o t a l d e b t , l e s s c a s h | A n n u a l i n t e r e s t
cipal.
ury July 1.
in Treasury.
charge.
$31, 972, 537
28, 699, 831
44, 911,881
' 58, 496, 837
64, 842, 287
90, 580, 873
524, 176,412
1,119, 772. 138
1,815, 784, 370
2, 6F0, 647, 869
2, 844, 649, 626
2, 773, 236,173
2, 678, 126,103
2, 611, 687.851
2, 588, 452, 213
2, 480, 672, 427
2, 353, 211,332
2, 253. 251.328
2, 2.34, 482, 993
2, 251, 690, 468
2, 232, 284, 531
2,180, 395,067
2,205, 301,392
2, 256, 205, 892
2,245, 495, 072
2,120, 415. 370
2, 069. 013. 569
1,-918, 312; 994
1, 884. 171, 728
1, 830, 528, 923
90
85
03
88
88
72
13
63
57
74
56
69
87
19
94
81
32
78
20
43
95
15
10
53
04
63
58
03
07
57
$21, 006,584 89
18,701, 210 09
7,011, 689 31
5, 091,603 69
4, 877,,885 87
2, 862,212 92
18, 863,659 96
8, 421,401 22
106, 332,093 53
5, 832,012 98
88.218, 055 13
137, 200,009 85
169, 974,892 18
130, 834,437 96
155. 680,340 85
149. 502,471 60
106, 217,263 65
103, 47'\ 798 43
129, 020,932 45
147,541, 314 74
142, 243,361 82
119,-.69, 726 70
186, 02.5,960 73
256, 823,612 08
249, 080,167. 01
201,088, 622 88
249. 363.415 35
243, 289,519 78
345, 389,902 92
391, 985,928 18
$10, 965, 953
9, 998. 621
37, 900,191
53, 405. 234
59. 964,402
87, 718,660
505. 312,752
1,111, 350. 737
1, 709, 452. 277
2, 674, 81.5, 856
2, 756, 431, 571
2, 636, 036,163
2, 508, 151, 211
2, 480, 853,413
2, 432, 771, 873
2, 331, 169. 956
, 2, 246, 994, 068
2,149, 780, 530
2,105, 462, 060
2,104, 149.153
2, 090, 041,170
2, 060, 925. 340
2,019. 275,431
1, 999. 382, 280
1, 996, 414,905
1,919. 326, 747
1,819, 650.154
1, 675, 023, 474
1,538, 781,825
1, 438, 542, 995
01
76
72
19
01
80
17
41
04
76
43
84
69
23
09
21
67
35
75
69
13
45
37
45
03
75
23
25
15
39
$1, 869,445 70
1, 672,767 53
2, 446.670 28
3,126, 166 28
3, 443,687 29
5, 092,630 43
22, 048,509 59
41, 854,148 01
78, 853,487 24
137.742, 61.7 43
150, 977,697 87
146, 068,196 29
138, 892,451 39
128, 459,598 14
125, 523,998 34
118, 784,960 34
111, 949,330 50
103, 988,463 00
98, 049,804 00
98, 796,004 50
96, 855,690 50
95,104, 269 00
•93i 160,r643 50
94, 654,472 50
8.3, 773,778 50
79, 633.981 00
' 75.018,695 50
57,'360, 110 75
51,436, 709 50
47, 926.432 50
IToTK 1.—The a n n u a l i n t e r e s t c h a r g e is c o m p u t e d u p o n t h e a m o u n t of o u t s t a n d i n g p r i n c i p a l a t t h e close of t h e fiscal y e a r , a n d is e x c l u s i v e of i n t e r e s t c h a r g e o n Pacific
railway bonds.
N O T E 2 . - ^ T h e figures for J u l y 1, 1879, w e r e m a d e u p a s s u m i n g p e n d i n g f u n d i n g o p e r a t i o n s t o h a v e b e e n c o m p l e t e d .
N O T E 3.—The t e m p o r a r y loan, p e r a c t of J u l y 11, 1862, i s i n c l u d e d in th"e 4 p e r c e n t s from 1862 t o -1868, i n c l u s i v e , w i t h t h e e x c e p t i o n of t h e a m o u n t o u t s t a n d i n g for A u g u s t
31.1865, t h i s b e i n g t h e d a t e a t w h i c h t h e p u b l i c d e b t r e a c h e d i t s h i g h e s t p o i n t . T h i s loan b o r e i n t e r e s t f r c m 4 p e r c e n t , to C p e r c e n t . , a n d w a s r e d e e m a b l e ou t e n d a y s ' n o t i c e
a f t e r t h i r t y d a y s j b u t b e i n g c o n s t a n t l y c h a n g i n g , i t h a s b e e n c o n s i d e r e d m o r e e q u i t a b l e t o i n c l u d e t h e w h o l e a m o u n t o u t s t a n d i n g as b e a r i n g 4 p e r c e n t , i n t e r e s t on a h a v e r a g e
for t h e y e a r .
N O T E 4.—In t h e r e c e n t m o n t h l y s t a t e m e n t s of t h e p u b l i c d e b t t h e i n t e r e s t a c c r u e d h a s b e e n a d d e d t o t h e p r i n c i p a l , m a k i n g t h e n e t d e b t l a r g e r i n t h a t a m o u n t t h a n t h e
a m o u n t h e r e i n s t a t e d for e a c h y e a r .
hj
o.
w
H
O
w
o
O
ftl
H
d
12
REPORT OP THE S E C R E T A I I Y OF THE TREAStJRt.
TABX-E ^o—STATEMENTof BECEIPTS of UNITED STATES from March 4,1789,
Balance in the
Treasury at
commencement of year.
1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
18081809
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
1865
$973. 905 75
783, 444 51
753, 661 69
1,151, 924 17
516, 442 61
888, 995 42
1,021, 899 04.
617, 451 43
2,161,867 77
2,623,311 99
3, 295,391 00
5, 020,697 64
4, 825,811 60
4, 037,005 26
3, 999,388 99
4, 538, 123 80
9, 643,850 07
9, 941,809 96
3, 848,056 78
2, 672,276 .57
3, 502,305 80
3, 862,217 41
5,196, 542 00
1, 727,848 63
13,106, 592 88
22, 033,519 19
14, 989,46,5 48
1, 478,526 74
2, 079,992 38
1,198, 461 21
1, 681,592 24
427 55
4, 237,922 81
9, 463,597 13
1, 946,650 43
5, 201,686 18
6, 35»,286 10
6, 668,
5, 972,435 8.1
5, 755,704 79
6,014, 539 75
4, 502,914 45
2, Oil,777 55
11, 702,905 31
8, 892,858 42
26, 749,803 96
46, 708,436 00
37, 327,252 69
36, 891, 196 94
33,1.57, 503 68
29, 963, 163 46
28, 685, 111 08
30,521, 979 44
39,186, 284 74
36, 742,829 62
36, 194,274 81
38, 261,959 65
33, 079,276 43
29, 416,612 45
32, 827,082 69
35, 871,753 31
40,158, 3.53 25
43. 338,860 02
50, 261,90109
48, 591,073 41
47, 777,672 13
49,108, 229 80
46, 802,855 00
35,113, 334 22
33,19.3, 248 60
32, 979,530 78
30, 963,857 83
46, 965,304 87
36, 523,046 13
134,433, 738 44
•Customs.
Intemal revenue.
$4, 399,473 09
942 81
3, 443, 070 85
337, 705 70
4, 255,306 56
274, 089 62
4, 801 065 28
337, 755 36
5, 588;461 26
475, 289 60
6, 567,987 94
575, 491 45
7, 549,649 65
644, 357 95
7,106, 061 93
779, 136 44
6, 610,449 31
932 73
809, 396 55
9,
1, 048,033 43
10,7,50; 778 93
621, 898 89
12,438, 235 74
215, 179 69
10,479, 417 61
50, 941 29
11, 098, 565 33
21, 747 15
12, 936,487 04
20, 101 45
14, 667, 698 17
13, 051 40
15, 845, 521 61
190 23
16, 363, 550 58
1, 251, 506 62
034 29
7, 430 63
8, 583,309 31
2, 295 95
13, 313, 222 73
4, 903 06
8, 958,777 53
4, 755 04
13, 224, 623 25
5, 998;772 08
1, 662,984 82
4, 678,059 07
7, 282,942 22
5,124, 708 31
36, 306,874 88
26 283, 348 49
2, 678,100 77
17,176, 385 00
955, 270 20
20, 283, 608 76
229, 593 63
106, 260 53
15, 005, 612 15
13, 004,447 15
69, 027 63
17, 589,761 94
67, 665 71
34, 242 17
19, 088,433 44
34, 663 37
17, 878, 325 71
25, 771 35
20, 098,713 45
21, 589 93
23, 341 331 77
19, 885 68
19, 712, 283 29
17, 451. 54
.23, 205,523 64
14, 502 74
22, 681 965 91
12, 160 62
21, 922, 391 39
6, 933 51
24, 224, 441 77
11, 630 65
28, 465,237 24
2, 759 00
29, 032, 508 91
4, 196 09
16, 214,957 15
10, 4.59 48
19, 391 310 59
370 00
23, 409; 940 53
11,169, 290 39
5, 493 84
467
27
16,158, 800 36
2,
23,137, 924 81
2, 553 32
682
25
13, 499, 502 17
1,
14, 487,216 74
3, 261 36
18,187, 908 76
495 00
103 25
7, 046.843 91
777 34
26,183, 570 94
517 12
27, 528i 112 70
897 26
26,712. 667 87
375.00
23, 747,864 66
375 00
31, 757,070 96
28, 346,738 82
39, 668,686 42
49. 017,567 92
47, 339,326 62
58, 931, 865 52
. 64, 224:190 27
53, 025,794 21
64, 022,863 50
63, 875,905 05
41,7.89, 620 96
49, 565,824 38
53,187, 511 87
39, 582,125 64
49, 056,397 62
09, 059,642 40
37, 640, 787 95
102, 316, 152 99 109, 741.134 10
84, 928,260 60 209,464, 215 25
Direct tax.
Public laiids.
$4, 836 13
83, 540 60
11, 963 11
$734, 223 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
4,2.53, 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
330 85
2, 638 76
6, 626 90
2, 218 81
2, 335 05
11, 980 59
16, 506 01
10, 791 13
6, 394 12
19 80
263 33
728 79
687 70
755 22
1, 795, 331 73
1,485,103 61
475, 648 96
1, 200, 573 03
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
1,13.5,971 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
2, 623,381 03
3, 967,-682 55
600 69
4, 857,600 75
14. 7.57,179 86
24, 877,236 52
6, 776,.945 66
3, 730,576 40
7,361, 818 63
3,411, 627 42
1, 365,
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
557 71
. 1, 778,
870, 658 54
152, 203 77
167, 617°17
588, 333 29
996, 553 31
Miscellaneous.
$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
40, 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, 017 71
57: 098 42
61 338 44
589 43
' 152,
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, 09fi 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
895 92
285: 419 70
1, 075,453 68
361, 950 13
289, 808 30
220, 610 69
612, 379 13
685, 308 21
2, 064,
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, 02,3,515 31
915, 327-97
3,741 794 38
30, 291 701 86
25,441, 556 00
* P o r the half-year from J a n
REPORT OF THE SECRETARY OF THE TRlEAStJRY.
18
to June 30,1884, hy calendar years to 1843 and by fiscal years {ended June 30) from that time.
Dividends.
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
l824
1825
1820
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
185*
1858
1859
1860
1861
1862
1863
1864
1865
Net ordinary
Interest.
receipts.
$8, 028 00
38, 500 00
303, 472 OOl
160,000 00^
160, 000 00
80, 960 00
79, 920 00
71,040 00
71, 040 00
88, 800 00
39, 960 00
Premiums.
Receipts from
loans.and
Treasury
notes.
Gross receipts.
$361, 391 34
5,102,498 451
1, 797, 272 01
4, 007, 950 78|
3, 396, 424 00
320. 000 00
70, 000 00
200, 000 00
5. 000, 000 00
1, 565, 229 24
$4, 800 00
42, 800 00
78, 675 00
i6,'i25*6o
2,750, 000 00
202, 426 30
525, 000 00
675. 000 00
1, 000. 000 00
105,000 oo;
297, 500 oo; 20,
350, 000 00 20,
350, 000 001
367, 500 00
402, 500 00
420, 000 00
455, 000 00
490, 000 00
490, 000 00
490, 000 00
490,000 00
474, 985 00
234.349 50
506,480 82)
292, 674 67
u a r y 1 to J u ^ e 30,1843.
300 00
85 79
11, 541 74
68, 665 16
267, 819 14
412 62
$32,107 64
686 09
40, 000 00
12, 837, 900 00
26,184,.135 00
23, 377, 826 00
35, 220, 671 40
9,425, 084 91
466, 723 45
8, 353 00
2, 291 00
3, 000, 824 13
5, 000, 324 00
5, 000, 000 00
5, 000, 000 00
71,700 83
666 601
28. 365 91
37, 080 00
487, 065 48
10, 550 00
4,264 92
2, 992, 989 15
12,716,820
3, 857, 276 21|
5, 589, 547- 51|
13. 609,317
14, 808, 735 641
12,479,706 "
1,877,181 35l
28,
21,
28,
4,
872, 399 45
256, 700 00
.558. 750 OOl
045, 9.50 00
203, 400 00
46, 300 00
16, 350 00
22 50
2, 001 67
800 00
200 00
3,900 00
23, 717, 300 00
709, 357 72
28, 287, 500 00
10, 008 00
20, 776, 800 00
33, 630 90
41, 861, 709 74
68,400 00 529. 692, 460 50
602, 345 44| 776, 682, 361 57
21,174,101 01 1,128, 873,945 36
11, 683,446 891,472, 224,740 851
771,342
772, 458
450,195
439, 855
515, 758
740, 329
758, 780
179,170
12, 546, 813
12, 413, 978
12, 945,455
14, 995, 793
11, 064, 097
11, 826, 307
13, 560, 693
15, 559,931
16, 398, 019
17, 060, 661
7, 773,473
12, 134, 214
14, 422, 634
22, 639, 032
40, 524, 844
34, 559, 536
50, 961, 237
57, 171.421
33, 833, 592
21, 593, 936
24, 605, 665
20, 881,493
19, 573, 703
20, 232, 427
20, 540, 666
24, 381, 212
26, 840, 858
25, 260. 434
22, 960, 363
24, 763, 629
24, 827, 627
24, 844,116
28, 526, 820
31, 867, 450
33, 948, 426
21, 971. 935
35. 430, 087
50, 826, 796
27, 947, 142
39, 019, 382
35, 340, 025
25, 069, 662
30, 519, 477
34, 784, 932
20, 782,410
31, 198, 555
29, 970,105
29, 699, 967
55, 368,168
56, 992, 479
59, 796, 892
47, 649, 388
52, 702, 704
49, 893,115
61, 603, 404
73, 802, 343
65, 351, 374
74, 056, 899
68, 909, 212
70, 372, 665
81,
76, 773, 965
83, 841, 407
581, 371, 640
680,121
379, 652
461, 017
805, 939, 345
Unavailable.
$1, 889 50
63,288 35
1,458, 782 93
37,469 25
11,188 00
28,251 90
'36,'666'66
103,301 37
15,408 34
11,110 81
6, 000 01
9, 210 40
6,095 11
14
• REPORT OF THE SECRETARY OF THE TREASURY.
or A B I i S i^.—STATEMENT of the BECEIPTS of the UNITED
1
Balance in the
Treasury at
commencement of year.
Customs.
Internal revenne. Direct tax.
1866 $33, 933, 6.57 89 $179, 046, 651 58 $309,226,813 42 $1,974,754 12
266, 027, 537 43 4,200,233 70
1867 160, 817, 099 73 176,417, 810 88
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
198, 076, 537 09
158, 936, 082 87
183, 781, 985 76
177, 604,116 51
138, 019,122 15
134, 666, 001 85
159, 293, 673 41
178, 833, 339 54
172, 804, 061 32
149, 909, 377 21
214,887,645 88
286,591,453 88
386, 832. 588 65
231, 940, 064 44
280, 607, 668 37
247,349,2.58 62
346, 088, 937 07
164, 464, 599 56
180, 048, 426 63
194, 538, 374 44
206. 270,408 05
216, 370, 286 77
188, 089, 522 70
163,103, 833 69
157,167, 722 35
148, 071, 984 61
130, 956, 493 07
130,170, 680 20
137,250,047 70
186,522, 064 60
198,159, 676 02
220, 410, 730 25
214, 706, 496 93
195,067,489 76
191, 087, 589 41 1,788,145 85
765,685 61
158, 356,460 86
184, 899, 756 49 229.102 88
580,355 37
143, 098.153 63
130, 642.177 72
113, 729, 314 14 315, 254 51
102, 409, 784 90
110, 007, 493 58
116, 700, 732 03
93,798 80
118, 630, 407 83
110, 581, 624 74
113, 561, 610 58
124, 009, 373 92
30 85
135, 264, 385 51
1, 516 89
146, 497. 595 45 160,141 69
144, 720. 368 98 108,156 60
121, 586, 072 51
70,720 75
Public lands. Miscellaneous.
$665, 031 03 $29,036,314 23
1,163, 575 76 15,037,522 15
1,348,715 41 17,745,403 59
4, 020, 344 34 13, 997, 338 65
3, 350,481 76 12, 942,118 30
2, 388, 646 68 22, 093, 541 21
2, 575, 714 19 15,106, 051 23
2, 882, 312 38 17,161, 270 05
1, 852,428 93 ' 32, 575, 043 32
1.413,640 17 "15,431,915 31
i; 129,466 95 24, 070, 602 31
976, 253 68 30, 437, 487 42
1, 079, 743 37 15, 614,728 09
924, 781 06 20, 585, 697 49
1,016,506 60 21, 978, 525 01
2, 201, 863 17 25,154, 850 98
4,753,140 37 31,703, 642 52
7, 955, 864 42 30, 796, 695 02
9,810,705 01 21, 984, 881 89
5, 267, 307, 819 363,220,161,403 22 27, 989, 292 51230, 285, 892 38523, 068, 430 43
" Amounts heretofore credited to the Treasurer as
REPORT OF THE SECRETARY OF THE TREASURY.
15
STATES from March 4, 187_9, to June 30, 1884, ^-c—Continued.
Dividends.
Net ordinary
receipts.
1866
1867
$519, 949, 564 38
462,846,679 92
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
376. 434, 453'82
357,188, 256 09
305, 959, 833 87
374, 431,104 94
364, 394, 229 91
322,177, 673 78
299,941,090 84
284. 020, 771 41
290,066,584 70
281,000,642 00
257, 446, 776 40
272, 322,136 83
333, 526, 500 98
300, 782, 292 57
403, 525, 250 28
398, 287, 581 95
348,519,869 92
Interest.
Premiums.
E e c e i p t s from
l o a n s and
Treasury
notes.
Gross receipts.
Unavailable.
$38, 083, 055 68 ,$712, 851, 553 05 $1, 278, 884,173 11 $172, 094 29
27. 787, 33u 35 640, 426, 910 29 1,131, 060, 920 56 721,827 93
2,675,918 19
........
29, 203, 629 50 625,111,433 20 1, 030, 749, 516
1.3,755,491 12 238, 078, 081 06
609,621,828
15, 295, 043 76 285, 474, 496 00
696,729 973
8, 892, 839 95 ' 268, 708, 523 47
6.52, 092, 408
9,412,637 65 305,047.054 00
679,1,53,921
11,560,530 89 214,931,017 00
548, 609, 221
5, 037, 665 2'2 439, V72, 535 46
744, 251. 201
675, 971, 607
3, 979, 279 69 387, 971, 556 00
691, .551, 673
4. 029, 280 58 397, 455, 808 00
630,278,167
405, 776 58 348, 871, 749 00
662, 345, 079
317,102 30 404, .581, 201 00
1, 50.5, 047 63 792, 807, 643 00 1, 066, 634, 827
54.5,340,713
110.00 211,8.14,103 00
113, 750, 534 00
474, 532, 826
120, 945, 724 00
524, 470, 974
555, 942, 564 00
954,230,145
206, 877, 886 00
555, 397, 755
52
27
63
36
56
67
52
10
28
58
70
40
98
,57
28
95
92
*2, 070 73
*3, .396
*18, 228
*3, 047
12, 691
18
35
80
40
$9,720,136 29 9,278,532,974 19 485, 224 45 204, 259, 220 83 11,594,810,415 84 21,078,087,835 31 2, 661,866 53
unavailable, and since recovered and charged to his account.
16
REPORT OF THE SECRETARY OF THE TREASURY.
T A B I . E M.STATEMENT of EXBENDITUBES of UNITED STATESfromMar.^,
TVar.
Year.
1791.
1792.
1793.
1794.
1795.
1796.
1797.
1798.
1799.
18001801.
1802.
1803.
1804.
1805.
1806
1807.
1808
180918101811.
1812
18131814.
18151816.
.18171818.
1819.
18201821.
18221823.
1824.
1825.
1826.
1827.
182818291830.
183118321833.
. 1834.
1835.
18361837.
1838.
18391840.
184118421843*
1844
18451846
1847.
1848.
L849
1850
1851.
1852.
1853.
18541855.
18561857.
185818591860.
18611862'.
1863.
l§64.
$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
2,0.9, 522 30
2,466, 946 98
2,560, 878 77
1, 672,944 08
1,179, 148 25
822, 055 85
875, 423 98
712, 781 28
1,224, 355 38
1, 288,685 91
2, 900.831 40
8,345, 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 78
3, 111,981 48
3, 096,924 43
3, 340,939 85
3, 659,91 i 18
3,913, 194 37
977 88
3, 948,544 56
4,145, 291 07
4, 724,128 88
4, 767.835 55
4,841, 034 88
5, 446,019 lb
6,704, 189 38
5, 696.156 89
5,759, 345 25
11,747, 730 80
. 13, 682,,
224 16
12, 897, 995 80
8,916, 267 23
7, 095,610 24
. 8,801,438 02
6,610, 671 95
2, 908,183 66
5, 218.291 28
5, 746.370 58
10, 413,030 33
35, 840,334 21
27, 688,473 26
14, 558,024 58
9, 687,965 11
12,161, 506 19
. 8,521,498 49
9, 910,282 87
11, 722,074 07
14, 648,160 51
16, 963,150 87
19,159, 121 63
'25, 679,720 53
23,154, 202 72
16,472, 530 67
23, 001,562 29
389,173, 411 82
603, 314,048 66
690, 391,
Navy.
$61, 408 97
410, 562 03
271, 784 04
382, 631 89
1,381,347 76
2, 858,081 84
3, 448,716 03
2, 111,424 00
915, 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, 654,2t4 20
1, 965,566 39
3, 959,365 15
6,446, 600 10
7, 311,290 60
8, 660,000 25
3, 908,278 30
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, 503,765 83
2, 904.581 56
3, 049,083 86
4, 218,902 45
4, 263,877 45
3,918, 786 44
3,308, 745 47
3, 239,428 63
3,856, 183 07
3, 956,370 29
3,901, 356 75
3, 956,260 42
3, 864,939 06
5,807, 718 23
6, 646,914 53
6,131,580 53
6,182,294 25
6,113,896 89
6,001,076 97
8, 397,242 95
711 53
3, rzi,199
11
6,498, 177 89
6, 297,013 92
6,455, 635 76
7, 900,476 02
9, 408,705 92
9,786, 724 66
7,904,
8, 880^581 38
8,918, 842 10
11,067, 789 53
096 32
10, 790,095
11
13, 327,834 64
14. 074,694 61
12, 651,264 64
14, 053,927 90
14, 690,649 83
11,514, 156 52
12, 387.353 09
42, 640,235 31
63,261, 963 74
85,704,
Tndians.
$27. 000 00
13, 648 85
27, 282 83
13, 042 46
23, 475 68
113, 563 98
62, 396 58
16, 470 09
20, 302 19
31 22
9, 000 00
94, 000 00
60, 000 00
116, 500 00
196, 500 00
234, 200 00
205, 425 00
213, 575 00
337, 503 84
177, 625 00
151, 875 00
277. 845 00
167, 358 28
167, 394 86
530, 750 00
214-, 512 16
319, 463 71
505,'704 27
463, 181,39
315, 750 01
477, 005 44
575, 007 41
380, 781 82
429, 987 90
724; 106 44
743, 417 83
750, 624- 88
705, 084 24
'576, 344 74
622, 262 47
930, 738 04
1, 352,419 75
1, 802,980 93
•1,003, 953 20
1, 706,444 48
5,037, 022 88
4,348, 036 19
5, 504,191 34
2, 528,917 28
2,331, 794 86
2, 514,837 12
1,199, 099 68
.578, 371 00
1, 256,532 39
1, 539,351 35
1, 027,693 64
1,430, 411 30
1, 252,296 81
1,374, 161 55
1,663, 591 47
2, 829,801 77
3,043, 576 04
3, 880,494 12
1, 550,339 55
"2, 772,990 78
2,644, 263 97
4, 354,418 87
4, 978,266 18
3,490, 534 53
2, 991^121 54
2, 865,481 17
2,327, 948 37
3,152, 032 70
2,629, 975 97
Pensions.
Miscellaneous.
$175, 813 88
$1, 083, 971 61
109, 243 151 c 4, 672, 664 38
087 81
511,451 01
750, 350 74
399 24
. 1, 378, 920 66
673 22
100, 843 71
. 801, 847 58
92, 256 97
1, 259, 422 62
104, 845 33
1,139,524 94
95, 444 03
1, 039, 391 68
64, 130 73
1, 337, 613 22
73, 533- 37
1,114, 768 45
85, 440 39
1,462, 929 40
62, 902 10
1, 842, 635 76
80, 092-80
2,191, 009 43
81, 854 59
3, 768, .598 ..
81, 875 53
2, 890,137 01
70, 500 00
1, 697, 897 51
82, 576 04
1, 423, 285 61
87, 833 54
1, '215
\ 803 79
83, 744 16
1,101,144
75, 043 88
1, 367'-, 291 40
91, 402 10
1,6831, 088 21
1. 729, 435 61
989 91
2, 208, 029 70
164 36
2,
870 47
656 06
188, 804 15
2,
741 17
297, 374 43
3, 518^936 76
890, 719 90
3, 835,839 51
3, 067,211 41
2, 415,939 85
2,592, 021 94
3, 208,376 31
2, 223 121 54
242, 817 25
1,967 996 24
1, 948,199 40
2, 022,093 99
1, 780,588 52
7,155;-308 81
1, 499,326 59|
1, 308,810 57
2, 748, 544 89
1, 556,593 83
2,600: 177
2,713 476 58
976, 138 86
850, 573 57
3, 676, 052 64
949, 594 47
3, 082;234 65
3,237 416 04
1, 363,297 31
1,170, 665 14
3, 064 646 10
1,184, 422 40
4, 577, 141 45
4, 589,1.52 40
5, 716:245 93
3, 364,285 30
4,404; 728 95
1, 954,711 32
4, 229 698 53
2, 882,797 96
5, 393 279 72
2,672, 162 45
9, 893,370 27
2,156, 057 29
7,160 664 76
3,142, 750 51
5, 725;9'90 89
2, 603,562 17
5, 995,398 96
2, 388,434 51
6,490; 881 45
1, 378,931 33
6, 775,624 61
839, 041 12
3, 202,713 00
2, 032,008 99
5, 645,183 86
2,400, 788 11
5,911 760 98
1,811, 097 56
6,711 283 '89
1, 744.883 63
6,885, 608 35
1,227, 496 48
5, .650:851 25
1, 328,867 64
12, 885 .331 24
1,866, 886 02
16, 04.3,763 36|
2, 293,377 22
17, 888, 992 18
2,401, 858 78
17, 504, 171 45
1,756, 306 20
17, 463 068 01
1, 232,665 00
26, 672. 144.68
1,47J. 612 33 24, 090,425 43
1, 296,229 65
31, 794, 038 87
1, 310,380 58
28, 565,498 77
1, 219;.768 30
26, 400, 016 42
1,222, 222 71
23, 797. 544 40
1,100, 802 32
27, 977, 978 30
1, 034,599 73
23, 327, 287 69
21, 385, 862 59
852, 170 47
1, 078,513 36 23,198, 382 37
27,572,216.87
4, 985,473 90
*Por the half year f r o m J a n
REPORT OF THE SECRETARY OF THE TREASURY.
17
1789, to June 30,1884, hy cal. years to 1843 and by fiscal years {ended Jun^e 30) from that time.
Year. Net ordinary ex- Premiums.
penditui'es.
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
1810
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
18.53,
1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
$1, 919, 589 52
5, 896,258 47
1, 749,070 73
3, 545,299 00
4, 362,541 72
2,551, 303 15
2, 836,no 52
4. 651,710 42
6, 480,166
7, 411,369 97
4,981, 669 90
3, 737,079 91
824 24
, 4. 002,
4.452, 858 91
6, 357,234 62
. 6,08(.t,209 36
4, 984,572 89
6, 504,338 85
7,414, 672 14
5, 311,082 28
5, 592,604 86
17. "829,498 70
28, 082,396 92
30, 127,686 38
26, 953,.571 00
23, 373, 432 58
15,454. 009 92
13.808, 673 78
16, 300,273 44
13,134, 530 57
10,723, 479 07
9,827, 643 51
9, 784,154 59
15, 330, 144 71
11,490, 459 94
13, 06-2,316 27
12, 653,095 6i
13, 296, 041 45
12, 641, 210 40
13, 229, 533 33
13, 864,067 90
16, 516, 388 77
22, 713, 755 11
18,425, 417 25
17,514, 950 28
30, 868, 164 04
37, 243. 214 24
33, 849, 718 08
26,496, 948 73
24.139, 920 11
26,196, 840 29
24, 361, 336 59
11,256, 508 60
20, 650. 108 01
21, 895, 369 61
$18, 231 43
26,418, 459 59
53,801, 569 37
4.5, 227,454 77
.39,933, 542 61
82, 865 81
37,165, 990 09
44, 054, 717 66
69,713 19
40, 389, 954 56
170,063 42
44, 078, 156 35 420, 498 64
51, 967, 528 42 2, 877, 818 69
56, 316, 197 72 872, 047 39
66, 772, 527 64 385, 372 90
66, 041, 143 70 363, 572 39
72, 330,437 17
574,443 08
66, 3.55,950 07
60, 056, 754 71
62, 616, 0,55 1 6
456, 379, 896 81
575 50
' 694. 004,
811, 283, 676 14
uary 1 to J u n e 30, 1843.
5023 SEC-
Interest.
$1,177, 863 03
2, 373, 611 28
2, 097, 859 17
2, 752, 523 04
2, 947, 059 06
3, 239, 347 68
3, 172, 516 73
2, 955, 875 90
2, 815, 651 41
3,402,601 04
4,411,830 06
4, 239,172 16
3, 949, 462 36,
4,185, 048 741
2, 657,114 22:
3, 368, 968 26
3, 369, 578 48|
2, 557, 074 23
2, 866, 074 90.
3,163, 671 09
2, 585, 435 57
2,451, 272 5'
3,599,455 22
4, 593, 239 04
5, 990, 090 24
7, 822, 923 34
4, 536, 282 55
6, 209, 954 03
5.211,730 56
5,151. 004 32
5,126, 073 79
5,172, 788 79
4, 922,475 40
4, 943, 557 93
4, 366, 757 40
3, 975, 542 95
3,486,071 51
3, 098, 800 60
2, 542, 843, 23
1, 912, 574, 93
1, 373,748 74
772, 561 50
303, 796 87
202,152 98
57,863 08
Public debt.
984 23
050 25
2, 633,048 07
2, 743, 771 13
2, 841, 639 37
2, 577, 126 01
2, 617,2.50 12
976, 032 09
1, 706.578 84
1,138, 563 11
2,879, 876 98
5,294, 235 24
3, 306,697 07
3, 977,206 07
4, 583,960 63
5, 572,018 64
2, 938, 141 62
7, 701,288 96
3, 586,479 26
4, 835,241 12
5,414, 564 43
1, 998,349 88
7,508, 668 22
3,307, 304 90
6,638. 832 11
17, 048, 139 59
20, 886,753 57
15,086, 247 59
2,492, 195 73
3, 477,489 96
3. 241, 019 83
2, 676,160 33
607, 541 01
11, 624,835 83
7, 728,587 38
7, 065,539 24
6, 517 596 88
9, 064,637 47
9,860, 304 77
% 443, 173 29
14, 800, 629 48
17, 067,747
1, 239,746 51
5, 974,412 21
328 20
Gross expenditures.
Balance in
Treasury at
the end of
the year.
$3, 797, 436 78
$973, 905 75
8, 962, 920 00
783,444 51
6,479, 977 97
, 753, 661 69
9,041, 593 17
., 151, 924 17
516,442 61
10,151, 240 15
888,995 42
8, 367,776 84
., 021, 899 04
8, 625,877 37
617,451 43
' 8,583,618 41
!, 161, 867 77
11, 002, 396 97
11, 952, 534 12 5, 623,311 99
12, 273,376 94 !, 295, 391 00
\, 020, 697 64
13, 270,487 31
,82.5,811 60
11,258, 983 67
:, 037,005 26
12, 615, 113 72
1.999, 388 99
13, 598, 309 47
538,123 80
15,021, 196 26
643. 850 07
11, 292, 292 99
941, 809 96
16. 762.702 04i
848, 056 78
13, 807,226 30
672, 276 57
13, 309,994 49
502, 305 80
13, 592,604" 86
22, 279,121 15' 3, 862, 217 41
39,190, 520 36 5, 196, 542 03
38, 028,230 32 . 1,727, 848 63
106,592 88
39,582, 493 35 13,
48, .244,495 51 22,033,519 19
40, 877,646 04 14, 989,465 48
•35,104, 875 40 .1. 478, 526 74
079, 992 38
24, 004, 199 73
198,461 21
21,763, 024-85
681,
592 24
19,090, 572 69
237, 427 55
17, 676, 592 631
403,
922
81
15,314. 171 00!
946,597 13
,31, 898,538 47,
201,
650
43
23, 585,804 72;
358, 686 18
24,103, 398 46;
668,286 10
22, 656,764 04
972, 435 81
35. 459,479 52
755, 704 79
25, 044,358 40
014,539 75
24, 585, 281 55
502. 914 45
30,038, 446 12
Oil, 777 55
34, 356.698 06
702,
905 31
24, 257, 298 49,
892,858 42
24, 601, 982 44l ,, 749, 803 96
17, 573, 141 56; 26, 708, 436 00
30, 868, 164 04 46, 327, 252 69
37,265, 037 15] 37, 891,196 94
21, 822 91
39,455, 438 351 36,157, 503 68
5, .590,723 7&
14, 996 48
37,614, 936 15 33, 963,163 46
10,718, 153 53
399, 833 89
28,226, 533 81 " 685,111 08
3, 912. 015 62
174, 598 08
31,797 530 03
5,315, 712 19
284, 977 55
521,979 44
7, 801, 990 09
773, 549 85
32, 936, 876 53
186,284 74
.523, .583 91
12,118,105 15
338. 012 64
742, 829 62
1, 833,452 13
11,158, 450 71
33, 642,010 8"5
194,274 81
1, 040,458 18
7, 536, 349 49
30,490, 408 71
261,959 65
842, 723 27
27, 632,282'90
371. 100 04
079,276 43
60, 520,851 74
1,119, 214 72
5,600, 067 65
416,612 45
60,655, 143 19
2, 390.765 88
13, 036,922 54
827, 082 69
3, 565,535 78
12,804, 478 54|
56.386, 422 74
871,753 31
3, 782,393 03
44, 604,718 26
158,353 25
3, 656,335 14
48,476. 104 31
3. 696,760 75
338, 860 02
654, 912 71
46, 712, 608 83
261,901 09
4, 000,297 80
2,152, 293 05
54, 577, 061 74
591, 073 41
6,412, 574 01
3, 665,832 74
75,473. 170 75
777, 672 18
17. 556,896 95
3,070, 926 69
66,164, 775 96
108,229 80
2, 314,464 99
6, 662,065 86
72,726, 341 57
802, 855 00
1, 953,822 37
3,614, 618 66
71, 274. 587 37
113, 334 22
1, 593,265 23
3, 276,606 05
82.*D62, 186 74
193, 248 60
7,505, 250 82
1, 652,055 67
83, 678, 642 92
979, 530 78
2, 637, 649 70
14, 685, 043 15
77, 055, 125 65
963, 857 83
3,144, 120 94
13,854, 250 00
4, 034, 157 30
18,737, 100 00
85.387, 313 08 30 965, 304 87
13,190, 344 84
96, 097, 322 09
565, 667,563 74 46; 523, 046 13
24,729, 700 62 181, 081, 635 07
899, 815,911 25 36, 433,738 44
53,685, 421
430, 572, 014 03 1, 295, 541,114 86|l34,
18
REPORT OF THE SECRETARY OF THE TREASURY.
T A B L . E m.—STATEMENT of the EXPENDITUBES of the UNITEB
' , Year..
War.
^•Nary. .
Indians,
'
Pensions. ^
Miscellaneous.
$1, 030, 690,400 06 $122, 617,434 07 $5,059, 360 71 $16, 347, 621 34 $42, 989, 383 10
283,154, 676 06 43, 285, 662 00 3, 295, 729 32 15, 605, 549 88 , 40,613,114 17
1865..
1866.....
3,568, 638, 312 28 717, 551,816,39 103, 369, 211 42 119,607,656 01 643, 604,"554 33
'*718,769 52
*3; 621, 780 07
*77, 992 17
*53,286 61'
*9, 737 87
1867..........
1868
. ../
1869 .......
1870................
1871.:..
.'....:.
1872........
1873
1874
^
1875;....... ;.,.....•
1876..i... .. -'.
1877.-.
:.....
1878..........\...;
1879':
1880................
1881.
1882..
1883...............
1884...
;...
3, 572,260, 092 35
95,224, 415 63
123, 246. 648 62
78,501,990 61
57, 655, 675 40
35, 799, 991 82
35,372,157 20
46, 323,138 31
42, 313, 927 22
41,120,645 98
38, 070, 888 64
37, 082, 735 90V
. 32,154,^147 85
40, 425, 660 73.
38,116, 916 22
40,466,460 55
43, 570, 494 19
48, 911, 382 93
39,429,603 36
717,629,808 56 103,422,498 03
31,034,011 04
4, 642, 531 77
25,775, 502 72
4,100, 682 32
7, 042, 923 06
20, 000, 757 97
21,;780, 229 87
3, 407, 938 15
19,431, 027 21
7,426, 997 44
21,249,809 99
7,061, 728 82
23, 526, 256 79
/
7, 951, 704 88
30, 932, 587 42 6,692, 462 09
8,384, 656'82
21, 497, 626 27
18, 963, 309 82
5, 966, 558 17
14, 959, 935 36
5,277, 007 22
17, 365, 301 37 4, 629, 280 28
15.125,126 84
5,206,109 08
13, 536, 984 74 5,945,457 09
15, 686, 671 66 6,514,161 09
15, 032, 046 26 9, 736, 747 40,
15,283,437 17
7, 362,590 34
17, 292, 601 44 6,475, 999 29
119,617,393 88 644, 323, 323 85
20, 936, 551 71-'• 51,110,.223 72
23, 782, 386 78 53,009,867 67
28, 476, 621 -78 56, 474, 061 53
28, 340, 202 17 53,237,461 56
34, .443, 894 88 60,481,916 23
28,533,402 76
60, 984,757 42
29,359,426 86
73, 328,110 06
29,038,414 66 '85,141,593 61
29,456, 216 22 ^ 71, 070, 702 98
28,257, 395 69 : 73, .599, 661 04
27,963,752 27
58, 926,532' 53
27,137, 019 08 53,177,703-57
35,121,482 39
65, 741, 555 49
56,777,174 44
54, 713, 529^ 76
50,059, 279 62. 64,416,324 71
61,345,193 95
57,219,750 98
66, 012, 573 64 68, 678, 022'21
55,429,228 0.6 • 70,920,433 70
•
4,486,046,973 51 1,076,103,032 50
,
"217,248,033 34
1, 776, 555, 532 62
780, 087, 610 84
* Outstanding
NOTE.—This stateinent is made from warrants paid'by the Treasurer up to June 30, 1866. The on tance in the, Treasury June 30, 1883, as shown by this statement; includes the amount deposited with
REPORT OF THE SECRETARY OF THE TREASURY.
19
STATES from March 4,1789, to June 30, 1884, ^c—Continued.
Year. Net ordinary ex- Premiums.
penditures.
i865
1866
Public debt.
Gross expenditures.
Balance
in
Treasury at
the end of
theyear.
$1,217, 704,199 28$1,717. 900 11 $11, 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 9i 620, 263, 249 10 1,139,344, 081 95165, 301, 654 76
5; 152,771, 550 437,611,003 56
*4,481, 566 24
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
Interest.
502, 689, 519 272,374, 677,103 12 8,037, 749,176 38
*100 31
*2, 888 48
*4, 484,555 03 *4. 49A 555 OR
5,157, 253,116 67 7,611,003 56 502, 692,407 752, 374, 677, 20a 43 8, 042, 233,731 4l'l60,817, 099 73
202, 947, 733 87
10, 813, 349 38 143, 781, 591 91 735, 536, 980 11 1,093, 079, 655 27 198, 076, 537 09
229, 915, 088 11 7, 001,151 04 140,424, 045 71 692, 549, 685 88 1, 069, 889, 970 741158, 936,082 87
190, 496, 354 95 1, 674, 680 05 130,694,242 80 261, 912,718 31
584, 777, 996 ll'l83, 781, 985 76
164,421, 507 i515, 996, 555 60 129,235,498 00 393, 254, 282 13
702, 907, 842 88 177, 604,116 51
157, 583, 827 589, 016.794 74 125, 576, 565 93 899, 503, 670 65 691,680,858 90138,019,122 15
• 153, 201, 856 196, 958, 266 76 117, 357,839 72 405, 007, 307 54 682, 525, 270 21134, 666, 001 85
524, 044, 597 91159,293, 673 41
180,488, 636 90 5,105, 919 99 104, 750, 688 44 233,699,352 58
194,118, 985 00 1, 395,073 55 107.119, 815 21 422, 065, 060 23
724, 698, 933 99 178, 833, 339 54
171, 529, 848 27
103, 093, 544 57 407,377,492 48
682, 000, 885 32172,804, 061 32
164, 857, 813 36
100,243,271 23 449, 345,272 80
714,446, 357 39149, 909, 377 21
144, 209, 963 28
97,124, 511 58 323, 965,424 05
565,299, 898 91214, 887, 645 88
134, 463, 452 15
102, 500, 874 65 353, 676, 944 90 590, 641,271 70 286,591, 453 88
161.619,-934 53
966, 393, 692 69 386, 832, 588 65
105, 327,949 00 699,445,809 16
169, 090, 062 252,795, 320 42 95, 757, 575 11 432, 590,280 41
700,233,238 19 231,940,064 44
177,142, 897 63 1, 061,248 78 82, 508,741 18 165,152,335 05
425,865,222 64 280,607,668 37
186, 904, 232 78
71, 077,206 79 271, 646, 299 55
529,627,739 121247,349.258 62
206, 248, 006 29
855,491,967 50346,087,437 07
59,160,131 25 590, 083, 820 96
189,547,865 85
54, 578, 378 48 260, 520, 690 50 504, 646, 934 83 396. 839. 758 16
.20,650,486,065 71
9, 872. 010, 639 72
8. 336,' 041,182 81
69,429,363.87 2, 37.3, 004, 879 31
Standing warrants are then added, and the statement is by warrants issued from that date, The balthe States, $28,101,644.91.
T A B L . I : 1.—STATEMENT showing ihe CONDITION of the SINKING-FUND from its institution im, May, 1869, to and
DR.
iJuly
1,1868
J u n e 30,1869
June 30,1884.
- T H E SECEETAEY OF THE, TREASUEY I N ACCOUNT W I T H SINKING-FUND.
To i of 1 per cent, on the principal of the public debt,
being for the three months from April 1 to J u n e 30,
1868.
To interest on $8,691,000, being amount of principal of
public debt purchased during flscal year 1869 on this
account
Balance to new account
J6,529,219 63
June 30,1869 By amount of principalpurchased, $8,691,000, including
$1,000 donation, estimated in gold
By accrued intei est on the amount of purchases in 1869..
1,1869
June 30,1870
To 1 per cent, on the principal of the public debt on
J u n e 30,1869, $2,588,4.52,213.94
To interest on $8,691,000, amount of redemption in 1869..
To interest on $28,151,900, amount of principal of public
debt purchased during fiscal year 1870 on this account.
25,884, 522 14
521,460 00
'1,254,897 00
1,1870
J u n e 30,1871
To balance from last year. i
To 1 per cent: on the principal of the public debt on
J u n e 30,1870, $2,480,672,427.81.
,
T,o interest on redemption of 1869, $8,691, 000
To interest oh redemption" of i870, $28,151,900
,
To interest on $29,936,250, amount of principal of public
debt purchased during fiscal year 1871 on this account.
744,711 80
24, 806,724 28
521, 460 00
1,689,114 00
July 1,1869 By balance from last year
June 30,1870 Byamountofprincipaipurchased, $28,151,900, estimated
in gold
By accrued interest on account of purchases in lB70
By balance tp new account.
1,1871
J u n e 30,1872
To balance from l a s t y e a r .
To 1 per cent, on the principal of the public debt on
June 30,1871, .$2,353,211,332.32
To interest on redeniption of 1869, $8,691,000
t o j n t e r e s t on redemption of 1870, $28,151,900.
To mterest on redemption of 1871, $29,936,250
......
To interest NOU-redemption of $32,618,450, amount of
principal of public debt purchased during fiscal year
1872 on this account
....".
To balance to new account
.;.....
-.
672,020 23
25,893,143 57
351, 003 54
. 744,711 80'
27, 660, 879 14
J u n e 30,1871 By amount of principal purchasod,$29,936,250, estimated
in gold.:
By accrued interest on account of purchases in 1871
By balance to new account
w
w
o
28,694,017 73
367, 782 53
257, 474 32
o
H
w.
o
P^
o
1, 557, 264 50
29,319,274 58
July
to
O
H
7, 397,829 86
27, 660,879 14
July
$7,261,437 30
136, 392 56
196,590 00
672, 020 23
7, 397,829 86
July
OK.
- 257,474 32
23, 532,113
521,460
1,689,114
1, 796,175
32
00
00
00
29, 319,274 58
June 30,1872 By amount of principal purchased, $32,618,450, estimated
in gold
-.
i
By accrued interest on account .of purchases in 1872
H
W
32, 248, 645 22
430, 908 38
>
m
W
2, 059, 325 50
2,823,891 46
32,679, 553 60
w
32,679,553 60
July 1,1872 To 1 per cent, on the principal of the public debt on
June 30,1872, $2,253,251,328.78
J n n e 30,1873 To interest on redemption of 1869, $8,691,000
To interest on redemption of 1870, $28,151,900
To interest on redemption of 1871, $29,936,250
To interest on redemption of 1872, $32,618,450.
To iuterest on redemption of $28,678,000, amount of
principal of public debt purchased during fiscalyear
1873 on this account
To balance to new account
July 1,1872 By balance from last year
-.
22, 532, 513 29 June 30} 1873 Byamountofprincipaipurchased, $28,678,000, estimated
521,460 00
in gold
1, 689,114 00
By accrued interest on account of purchases in 1873
1, 796,175 00
1, 957,107 00
2,823, 891 46
28,457, 562 83
392, 385 45
1,725,881501, 451, 588 95
o
31,673,839 74 1
31,673,839 74
H
O
w
J u l y 1,1873 By balance from last year
1,1873 To 1 per cent, on the principal of the public debt on
t 22, 344,829 93 June 30,1874 By amount ofprincipalpurchased, $12,936,450, estimated
June 30, 1873, $2,234,482,993.20
521,460
00
To
interest
on
redemption
of
1869,
$8,691,000
"in gold
J u n e 30,1874
1, 689,114 00
To interest on redemption of 1870, $28,151,900.."
By accrued interest on account of purchases in 1874
1, 796,175 00
To interest on redemption of 1871, $29,936,250
By balance..
1, 957,107 00
To interest on redemption of 1872, $32,618,450
1, 720, 680 00
To interest on redemption of 1873, $28,678,000
To interest on redemption of $12,936,450, amount of
principal of public debt purchased during fiscal year
823, 082 oo'
1874 on this account
July
1,451,588 95
12,872,850 74
222, 586 28
16,305,421 96
30,852,447 93
30, 852,447 93 |
o
:^
O
m
1,1874 To 1 por cent, on the principal of the public debt on
J u n e 30,1874, $2,251,690,468.43
©.
J u n e 30,1875 To interest on redemption of 1869, $8.691,000.
To interest on redemption of 1870, $28,151,900
To interest on redemption of 1871. $29,936,250
To interest on redemption of 1872, $32,618,450
To interest on redemption of 1873, $28,678,000
To interest on redemption of 1874, $12,936,450
,
To interest on rederaption of $25,170,400, amount of
principal of public debt " p a i d " during fiscal year
1875 on this account
July
22, 516, 904 68
521,460 00
1, 689,114 00
1, 796,175 00
1, 957,107 00
1,720,680 00
776, 087 00
J u n e 30,1875 By amouut of principal redeemed, estimated in gold—
By accrued interest on account of redemption in 1875..
By balance
:.....i.....
25,170, 400 00
353, 061 56
5,996, 039 62
H
d
541,793 50
31,519,501 18 1
31, 519, 501 18
^^
T A B I . i 2 1.—STATEMENT showing the CONDITION of the SINKING-FUND, #c.—Continued.
, T H E SECEETARY OF T H E T E E A S U E Y IN; ACCOttNT W I T H
DR.
July
1,1875
J u n e 30,1876
T o 1 pei" c e n t , on t h e "principal of t h e p u b l i c d e b t on
J u n e 30,1876
J u n e 30,1875, $2,232,284,531.95
$22, 322, 845 32
521, 460 00.
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691,000
1,689,114.00
T o i n t e r e s t on r e d e m p t i o n of 1870, $28,151,900
1,796,175-00
T o i n t e r e s t o n r e d e m p t i o n of 1871, $29,936,250
1,957,107 00,
T o i n t e r e s t on r e d e m p t i o n of 1872, $32,618,450.
1, 720,680 00
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000
776, 087 00
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,93^450.
1, 510,224 00
T o i n t e r e s t o n r e d e m p t i o n of 1875, $25,170,400..,
T o i n t e r e s t on r e d e r a p t i o n of $32,183,488.09, a m o u n t of*
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1876 ou t h i s a c c o u n t
1, 291, 083 50
By
By
By
By
By
By
amount
accrued
amount,
amount
amount
balance
SINKING-FUND.
of p r i n c i p a l r e d e e m e d , e s t i m a t e d i n g o l d .
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 1876
of f r a c t i o n a l c u r r e n c y r e d e e m e d
of l e g a l - t e n d e r s r e d e e m e d . \
of certificates of i n d e b t e d n e s s r e d e e m e d .
--..
July
1,1876
J u n e 30,1877
1,1877
J u n e 30,1878
T o l i p e r c e n t . o n 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 o n
J u n e 30,1877, $2.205,301,392.10
^.
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691.000..
....
T o i n t e r e s t on r e d e m p t i o n of 1870, $28,151,900
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936,250....
..
T o i n t e r e s t on r e d e m p t i o n of 1872, $32,618,450
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000.
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,936,450.
.
T o i n t e r e s t o n r e d e m p t i o n of 1875, $25,170,400
T o i n t e r e s t on r e d e m p t i o n of 1876, $32,183,488.09
T o i n t e r e s t o n r e d e m p t i o n of 1877, $24,498,910.05 . . . . . . .
T o i n t e r e s t on r e d e m p t i o n of $17,012,634.57, a m o u n t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1878 on t h i s a c c o u n t
... -
67
00
00
00
00
00
00
00
28
By
By
By
By
By
amount
accrued
amount
amount
balance
of p r i n c i p a l r e d e e m e d , e s t i m a t e d i n g o l d .
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 1877
of f r a c t i o n a l c u r r e n c y r e d e e m e d
.....
of l e g a l - t e n d e r s r e d e e m e d .
447, 500
5, 776
14,043,458
10, 007, 952
9, 225,146
00
52
05
00
63
6
33, 729,833 20
By
By
By
By
By
a m o u n t of p r i n c i p a l r e d e e m e d , e s t i m a t e d i n g o l d . .
a c c r u e d i n t e r e s t o n a c c o u n t of r e d e m p t i o n i n 1878.
a m o u n t of f r a c t i o n a l c u r r e n c y r e d e e m e d
a m o u n t of legal-teiiders r e d e e m e d
balance^
^
.
73,950
809
3,855,368
13,083,316
18,415, 557
00
92.
57
00
31
W.
CQ
4,197 00
35,429, 001 80
CQ
o
H-
J u n e 30,1878
92
00
00
00
00
00
00
00
28
60
O
O
24,026 25
22, 053, 013
521, 460
1,689, 114
1, 796, 175
1, 957, 107
1, 720, 680
776, 087
1,510, 224
1,931, 009
1,469, 934
^ - ^ •
. "^
,33, 729, 833 20
July
00.
91
09
00
00
82
33,584,775 82
J u n e 30,1877
21, 803, 050
521,460
-1,689,114
1, 796,175
1, 957,107
1, 720, 680
776, 087
1, 510,224
i , 931, 009
$18, 444, 050
257,517
7,062,142
5, 999, 296
678, 000
1,143,769
-H .
33, 584, 775 82
T o 1 p e r c e n t , o n 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 o n
J u n e 30,1876, $2,180,395,067.15
-.
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691,000...:
T o i n t e r e s t on r e d e m p t i o n of 1870, $28,151,900.
T o i n t e r e s t o n r e d e m p t i o n of 1871, $29,936,250
T o i n t e r e s t on r e d e m p t i o n of 1872, $32,618,4-50
.,..
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000 . . .
-..
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,936,450
T o i n t e r e s t o n r e d e m p t i o n of 1875, $25,170,400 ...T o i n t e r e s t on r e d e r a p t i o n of 1876,-$32,183,488.09
T o i n t e r e s t on r e d e m p t i o n of $24,498,919.05, a m o u n t of
p r i n c i p a l of p u b l i c , d e b t " p a i d " d u r i n g fiscal y e a r
1877 o n t h i s a c c o u n t
to
to
CB.
35,429, 001 80
July
1,1878
J u n e 30,1879
To 1 per cent, on the principal of the public debt on
June 30, 1878, $2,256,205,892.53
To interest on redemption of 1869, $8,691.000
To interest on redemption of 1870, $28,151,900
To interest on redemption of 1871, $29,936,250
To interest on redemption of 1872, $32,618,450
To interest on redemption of 1873, $28,678,000
To interest on redemption of 1874, $12,936,450
To interest on redemption of 1875, $25,170,400
To interest on redemption of 1876, $32,183,488.09
To interest on redemption of 1877, $24,498,910.05
To interest on redemption of 1878, $17,012,634.57
To interest on redemption of $723,662.99, amount of
principal of public debt " p a i d " during fiscal year
1879 on this account
22, 562,058 93
521, 460 00
1, 689,114 00
1,796, 175 00
1, 957,107 00
' 720,680 00
770, 087 00
1 510, 224 00
1, 931, 009 28
934 60
i: 469,^758
07
1, 020,
June 30,1879 By amount of principal redeemed, estimated in gold...
By accrued interest on account of redemption in 1879
By amount of fractional currency redeemed
,
By balance
-.
O
H
O
996 75
36, 955, 604 63
July
1,1879
June 30,1880
'J?o l ^ e r ceht. on the principal of the public debt on
June 30, 1879, $2,349,567,482.04
To balance from fiscal year 1874
$16, 305,421 96
To balance from fiscal year 1875.
5,990. 039 62
To balance from fiscal year 1876,
1,143,769 82
To balance from fiscal year 1877
9, 225,146 63
To balance from fiscal year 1878
18,415,557 31
To balance from fiscal year 1879
36,231,632 87
To interest on redemption ofl869,.$8,691,000
To interest on redemption of 1870, $28,151,900
To interest on redemption of 1871, $29,936,250
To interest on redemptiod of 1872, $32,618,450
To interest on redemption of 1873, $28,678,000
To interest on redemption of 1874, $12,936,450
To interest on redemption of 1875, $25,170,400
To interest on redemption of 1876, $32,183,488.09.
To interest on redemption of 1877, $24,498,910.05.
To interest on redemption of 1878, $17,012,634.57
To interest on redemption of 1879, $723,662.99
To interest on redemption of $73,904,617.41, amount of
principal of public debt. " p a i d " during fiscal year
1880 on this account
,
18, 500 00
308-77
705,362 99
36,231,632 87
June 30,1880 By
23,495, 674 82
By
By
By
By
1,955, 604 63
amount of principal redeemed in 1880
accrued interest on account of redemption in 1880
amount of premium paid
.
.amount of fractional currency redeemed
balance
,
73,652, 900 00
93.5, 951 60
2,795, 320 42
- 251, 717 41
49, 817,128 78
W
CQ
o
>
87,317,,
,.568 21
521, 460 00
1,689, 114 00
1,796, 175 00
1, 957,107 00
1,720, 680 00
776, 087 00
1, 510,224 00
1, 931,009 28
1,469, 934 60
1, 020,758 07
43, 419 78
Kj
O
w
H.
W •
2,203,806 45
CQ
127,453,018 21
127,453,018 21
a
IS3
BSD
T A B E . E lo—STATEMENT shoiving the CONDITION of the SINKING-FUND, ^c—Continued.
T H E S E C R E T A E Y O F T H E T R E A S U R Y I N A C C O U N T W I T H TJSE SINKING-FUl^fD.
Dn.
July
1,1880
J u n e 30,1881
T o balance'^rom l a s t y e a r
$49, 817,128 78 J u n e 30,1881 B y a m o u n t
By accrued
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 o n
J u n e 30,1880, $2,120,415,370.63
21,204,153 71
By amount
T o i n t e r e s t on r e d e m p t i o n of 1869, $8,691,000
B
y amount
521, 460 00
T o i n t e r e s t o n r e d e m p t i o n of 1870, $28,151, DOO
^By balance
1, 689,114 00
T o i n t e r e s t on r e d e m p t i o n of 1871, $29,936,250
1, 796,175 00
T o i n t e r e s t on r e d e m p t i o n of 1872, $82,618,450
1, 957,107 00
T o i n t e r e s t on r e d e m p t i o n of 1873, $28,678,000
1, 720, 680 00
T o i n t e r e s t on r e d e m p t i o n of 1874, $12,936,450.
776, 087 00
T o i n t e r e s t on r e d e m p t i o n of 1875, $25,170,400
1, 510, 224 00
T o i n t e r e s t o n r e d e m p t i o n of 1876, .$32,183,488.09
1, 931, 009 28
T o i n t e r e s t on r e d e m p t i o n of 1877, $24,498,910.05
1, 469, 934 60
T o i n t e r e s t on r e d e m p t i o n of 1878, $17,012,634.57
....
1, 020, 758 07
T o i n t e r e s t on r e d e m p t i o n of 1879, $723,662.99
43, 419 78
T o i n t e r e s t o n r e d e m p t i o n of 1880, $73,904,617.41
4,161,762 04
T o i n t e r e s t on r e d e m p t i o n of $74,480,351.05, a m o u n t of
p r i n c i p a l of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
2, 935, 731 65
1881 o n t h i s a c c o u n t
..."
of p r i n c i p a l r e d e e m e d i n 1881
;.
i n t e r e s t on a c c o u n t of r e d e m p t i o n i n 1 8 8 1 .
of p r e m i u m p a i d
.'. . 1 . . , 1 . . .
of fractional c u r r e n c y r e d e e m e d . . . . . . . . . . .
.. o......
92,554,744.91
July
1,1881
J u n © 30,1882
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 , o n 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 o n
J u n e 30, 1881, $2,069,013,569.58
T o i n t e r e s t o n r e d e m p t i o n s p r i o r t p 1882
„
T o i n t e r e s t o n r e d e m p t i o n of §60,137,855.55, a m o u n t of
.principal of p u b l i c d e b t " p a i d " d u r i n g fiscal y e a r
1882 o n t h i s a c c o u n t
1,1882
J u n e 30,1883
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 , o n 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 o n
J u n e 30, 1882, $1,918,312,994.03
T o i n 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 1883
,
T o i n t e r e s t o n r e d e m p t i o n of $44,897,256.96, a m o u n t of
p r i n c i p a l of p u b l i c d e b t - " p a i d " d u r i n g fiscal y e a r
1883 o n t h i s a c c o u n t
00
61
78
05
47
hj
O
O
H
r^
.W
CQ
H
B y a c c r u e d i n t e r e s t o n a c c o u n t of r e d e m p t i o n i n 1882
B y a m o u n t of fractional c u r r e n c y r e d e e m e d
B y balance
60, 079,150
612, 039
58, 705
461, 309
00
53
55
15
'^^
61, 211, 204 23
w
fd
O
1, 576, 337 23
61,211,204 23^
July
$74, 371,200
707,421
1,061,248
109,001
16, 305, 873
92, 554,744 91
16, 305, 873 47 J u n e 30,1882 B y a r a o u n t of p r i n c i p a l r e d e e r a e d in 1882
20, 690,135 70
22, 638, 857 83
CB.
461,309 15
19,183,129 94
24, 778, 517 16
J u n e 30,1883 B y a m o u n t of p r i n c i p a l r e d e e m e d i n 1883
B y a c c r u e d i n t e r e s t o n a e c o u n t of r e d e m p t i o n i n 1883
B y a m o m i t of f r a c t i o n a l c u r r e n c y r e d e e m e d
By balance
44, 850,700
329,761
46,556
623, 316
00
48
96'
71
CQ
d
1,427.378 90
45,850,335 15
45,850,335 15
July
1,1883
J u n e 30,1884
To balance from last year
To i per cent, on the principal of the public debt on
J u n e 30,1883, $1,884,171,728.07
To interest on redemptions prior to 1884
To interest on redemption of $46,790,229.50, amonnt of
principal of public debt "paid " during fiscal year
1884 on this account
623,316 71
18, 841, 717 28
26,351, 707 08
June 30,1884 By
By
By
By
amount of principal reaeemed in 1884
accrued interest ou account of redemptions in 1884.
amount of fractional currency redeemed
balance
46,769, 600
318, 879
20, 629
743
00
93
50
32
1,293,111 68
47,109, 852 75
47,109,852 75
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T A B I I E M.,—STATEMENT shoiving 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 each fiscal year froin its institution in
May, 1S(J9J to and ineiuding June 30, 1^4.
"
Year ended^r-
Principal recost i
Premium paid. Net
deemed.
currency.
of ind u e Accrued inter- Balance
Net cost esti- Interest
terest due at
at close of
est paid in
mated in gold.
closeof
fiscal
fiscal year.
coin.
year.
J U N E 30, 1869.
Five-twenties
Five-twenties
Five- twenties
Five-twenties
Consols, 1865
Consols. 1867
Consols, 1868
of 1862
of March, 1864 .
of June, 1864...
of 1865
$1, 621, 000 00
70,000 00
1, 051, 000 00
46.5, 000 00
461, 000 00
4, 718, 000 00
305,000 00
Total.
8, 691, 000 00
$253, 822 84 $1,874,822 84 $1, 349, 970 02
11,725 00
57, 552 82
81,725 00
161, 946 45
873, 205 61
1, 212,946 45
74, 969 00
387,566 28
539, 969 00
73, 736 80
387, 903 26
534, 736 80
749, 208 08
5, 467, 208 08 3, 948, 586 11
49,442 50
256,
653 20
354,442 50
1, 374, 850 67 10, 065, 850 67
7, 261,437 30
$16, 210 00
700 00
10, 510 00
4, 650 00
13, 830 00
141, 540 00
9,150 00
$7, 384 60
218 63
1, 470 42
2, 683 54
429 04
116, 032 35
8,173 98
$8, 825 40
481 37
9, 039 58
1, 966 46
13,400 96
25, 507 65
976 02
196, 590 00
136, 392 56
60,197 44
J U N E 30 1870.
Five-twenties
Five-twenties
Five-twenties
Five-twenties
Consols. 1865
Consols, 1867
Consols, 1868
of 1862
of March, 1864
of June, 1864
of 1865
:
Total......
3, 542, 050 00
85, 000 00
3. 971, 400 00
2, 790, 250 00
11,532,150 00
5, 8S2, 550 00
348, 500 00
493,479 42
4, 035i 529 42 3, 263, 099 51
15, 742 87
100, 742 87
75,658 .54
506,189 91
4, 477, 589 91 3, 647, 628 29
361, 735 43
2, 606, 636 20
3,151,985 43
1. 4.54, 778 37 12, 986, 928 37 10. Oei, 736 97
861, 763 73
6,744, 313 73 5,309,810 90
53,363 95
401, 863 95
308,573 16
160, 919 50
5, 350 f 0
165,834 00
105, 257 50
495,421 50
302, 734 50
19, 380 00
45, 994 49
1. 080 99
49. 94S 00
37,113 53
145, 518 29
60. Ill 51
5, 238 73
28,151, 900 00
3, 747, 053 68 31, 898, 953 68 25, 893,143 57 |
1, 254, 897 00
351, 003 54
114, 925 01
4, 269 01
11,5, 888 00
. 68,143 97
349, 903 21
236, 622 99
14,141 27
903, 893 46
=
J U N E 30, 1871.
Fiye-twenties of 1862
Five-twenties of March, 1864
Five-twenties of June, 1864
Five-twenties of 1865
Consols, 1865
Consols, 1867
Consols, 1868
Total
=
,
..,
2, 792, 950 00
29, 500 00
3, 967, 350 00
6, 768, 600 00
10, 222, 200 00
6,103, 050 00
52, 600 00
29,936,250 OC
227, 607 56
3, 020, 557 56
2,277 20
31, 777 20
340, 529 63
4, 307, 879 63
574, 923 00
7, 343, 523 00
. 850, 949 79 11, 073,149 79
541, 559 41
6, 644, 609 41
4, 784 61
57,384 61
2, 680, 209 05
28, 590 88
3, 847,182 42
6, 525, 231 42
9, 762.387 78
5, 800, 618 37
49,797 81
2, 542, 631 20 32, 478, 881 20 28, 694,017 73
145, 975 00
1, 240 00
201, 375 00
331, 933 50
522,117 00
351, 528 .00
. 3, 096 00
1, 557, 264 50
36, 657 80
388 35
51, 703 46
92,259 58
109,455 28
76, 745 93
572 13
367,782 53
109, 317 20
851 65
149, 671 54
239, 673 92
412, 661 72
274, 782 07
2, 523 87
,1,189,48197
to
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J U N E 30, 1872,
Five-twenties
Five-twen ties
Five-twenties
Five-twen ties
Consols, 1865
Consols, 1867
Consols, 1868
of 1862
of March, 1864
of June, 1864
of 1865... 1
Total.
6,417, 850 00
127,100 00
3,604,650 00
3, 635, 200 00
- 11,788,900 00
6, 958, 900 00
85, 850 00
764, 055 21 / 7,181, 905 21 6, 345. 391 98
14, 959 03
142, 0.^9 03 ^ 126,123 46
4,043.306 16
438, 656 16
3. 573, 223 63
4, 072, 038 70 - 3, 594,747 85
436, 838 70
1,436,989 46 13, 225, 889 46 11,660.785 89
833,600 15 . 7, 792, 500 15 6, 863, 777 39
84, 595 02
95.801 63
9,951 63
32, 618,450 00
3, 935, 050 34 36, 553, 500 34 32,248, 645 22
7,137,100 00
50, 000 00
3,741,150 00
1,9.59,850 00
10.768, 250 00
4,402,100 00
619, 550 00
925, 783 87
8. 062, 883 87 7, 089, 542 58
. 7, 372 50
57, 372 50
49,780 91
480,684 37
4, 221, 834 37 3,71.5,211 22
250, 635 93
2.210,485 93
1, 943.488 93
1,371,187 17 12.139. 437 17 10,668,617 09'
553,610 89
4, 955, 710 89 4, 373, 781 76
81, 983 44
701, 533 44
617,140 34
28,678,000 00
.3,671,258 17
427, 849 00
8, 894 00
246, 001 50
246, 562 00
707, 334 00
417, 534 00
5,151 00
75,179 43
1, 338 70
57, 449 80
37, 817 37
149, 248 21
108,487 92
1,386 95
852, 669 57
. 7, 555 30
188, 5.51 70
208, 744 63
558, 085 79
309, 046 08
3,764 05
2, 059,325 50
430, 908 38
1, 628, 417 12
J U N E 30, 1873.
Five-twenties of
Five-twenties of
Five-twenties of
Five-twenties of
Consols, 1865
Consols, 1 8 6 7 . . .
Consols, 1868
1862
March, 1864
June, 1864
1865
'.
:
.
Total...-.
431,450 50
3, 500 00
223,270 50
120,266 50
646, 095 00
264,126 00
37,173 00
101, 960 57.
813 70
42, 216 46
23, 744 47
145.069 34
69, 632 51
8,948 40
• 329,489 93
2, 686 30
181, 0^4 04
96, 522 03
501,025 66
194, 493 49
28, 224 60
1, 725, 881 50 -
392; 385 45
1, 333, 496 05
99, 519 00
141,438 .50
87,307 50
203,619 00
243, 060 00
48,138 00
31, 743 95
^48, 013 46
29,348 19
46,489 33
55, 976 97
11,014 38
67, 775 05
93, 425 04
57, 959 31
157,129 67
187,083 03
37,123 62
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1, 395, 073 55 14, 331, 523 55 12, 872, 850 74
823,082 00
222, 586 28
600, 495 72
25,170, 400 Op
541, 973 50
353, 061 56
188, 911 94
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32, 349, 258 17 28,457, 562 83
J U N E 30, 1874.
Five-twenties of 1862
Five-twenties of June, 1864
Five-twenties of 1865
Consols, 1865
Consols, 1867
Consols, 1868
•
,
1,421,700 00
2, 020. 550 00
1, 247, 250 00
3, 393, 650 00
4, 051, 000 00
802, 300 00 '
12, 936,450 00
Total
. 161,219 79
218,457 39
135, .577 95
360, 964 62
432, 348 18
86, 505 62'
1, 582, 919 79
2, 239, 007 39
1, 382, 827 95
3,754,614 62
4,483,348 18
888, 805 62
1,415,391 05
2, 012, 051 32
1, 241, 571 69
3, 374, 934 42
4, 029, 975 86
798, 926 40
J U N E 30, 1875.
25,170.400 00
Five-twenties of 1862.
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J U N E 30, 1876.
Five-twenties of 1862
Five-twenties of June, 1864
Five-twenties of 1865
Total
-..
5,785, 200 00
10,869,600 00
. 1,789, 250 00
18,-444,050 00
.. ,, .
5,785,200 00
404, 964 00
10,869,600 00 - 760, 872 00
1, 789, 250 00
125, 247 50
54,745 72
171, 966 33
30, 805 86
18,444,050 00
257,517 91
1, 291, 083 50
•
350, 218 28
588, 905 67
94,441 64
>< -
1,033, 565 59
to
T A B L . E Sl.—STATEMENT showing the PUBCHASE of BONDS on account of the SINKING-FUND, #c.—Continued.
P r i n c i p a l redeemed.
Y e a r ended—
P r e m i u m paid.
N e t cost in
currency.
N e t c o s t estim a t e d i n gold.
Interest due
a t close of
fiscal y e a r .
A c c r u e d interest paid in
coin.
ts5
00
B a l a n c e of interest due at
• close of fiscal
,year.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
iFive-twenties of 1865
Consols 1865
... ..
Consols, 1867
.•
$81,200
178,900
180, 350
6, 050
1, 000
00
00
00
00
00
$81,200
178,900
180, 350
6, 050
1, 000
447, 500 00
Total
00
00
00
00
00
447, 500 00
$4,352
9, 943
9, 519
.181
30
25
50
00
50
00
24, 026 25
$1,181
1,323
3,141
108
21
67
60
08
97
20
5, 776 52
$3,170
8,619
6,377
72
8
58
90
92
53
80
17, 900
1.5, 900
2,350
23, 600
5,700
8, 500
=
00
00
00
00
00
00
17, 900
15, 900
2, 350
23, 600
5, 700
8, 500
00
00
00
00
00
00
73, 950 00
73, 950 00
Total
966
834
129
1, 416
342
510
00
00
00
00
00
00
4,197 00
192
78
40
273
134
89
65
41
92
35
76
83
809 92
773
755
88
1,142
207
420
35
59
08
65
24
17
3, 387 08
2,650
3, 150
1,850
1,700
9, 050
100
-
===
00
00
00
00
00
00
2, 650
3,150
1,850
1,700
9,050
100
18, 500 00
18,500 00 •
o-
00
00
00
00
00
00
165
94
85
102
543
6
75
50
50
00
00
00
996 75
40
18
41
41
166
56
35
53
22
49
62
00
308 77
125
75
44
60
376
5
40
97
28
51
38
44
Total
i
.-......
....'
100
100
250
676, 050
2, 837, 000
32, 064, 250
12, 797,150
202,550
23, 575, 450
1, 500, OfiO
00
00
00
00
00
00
00
00
00
00
73,652,900 00
$74,161
1, 376, 085
549, 035
8, 273
662, 206
125, 558
95
04
18
02
97
26
2,795, 320 42
100
100
250
676, 050
2,911,161
33,440, 335
13, 346,185
210, 823
24,237, 656
1, 625,558
00
00
00
00
95
04
18
02
97
26
76,448, 220 42
4
4
14
28,168
85,110
4 , 1 6 5 , 807
484,747
9, 787
415,162
15, 000
00
0050
75
00
50
50
50
70
00
2,203.806 45
5
12,872
47, 540
518,148
213,179
3, 662
130,-349
10,191
67
49
85
65
20
79
29
56
36
74
935, 951 60
QQ
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• 687 98
J U N E 30, 1880.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e n t i e s of 1865
T e n - f o r t i e s of 1864
i i o a n of F e b r u a r y , 1861
liOan of J u l v a n a A u s r u s t 1861
L o a n of M a r c h , 1863
Oregon w a r debt
F u i m e d l o a n of 1881
F n n d e d l o a n of 1907
O-
18,249 73
J U N E 30, 1879.
Total
O
td
w
J U N E 30, 1878.
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e n t i e s of 1865
C o n s o l s 1865
Consols, 1867
C o n s o l s 1868
F i v e - t w e n t i e s of 1862
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e n t i e s of 1865
C o n s o l s 1865
Consols, 1867
C o n s o l s 1868
.
..
td
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J U N E 30, 1877.
3
3
8
15, 296
37, 569
647, 658
271, 568
6,124
284, 813
4 808
33
51
65
10
80
71
21
94
34
26
1, 267, 854 85
H
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td
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J U N E 30, 1881.
F i v e - t w e n t i e s of J u n e , 1864
F i v e - t w e n t i e s of 1865
F i v e - t w ; u t i e s of 1862 .
L o a n of F e b r u a r y 1861
L o a n of J u l y a n d A u g u s t , 1861
L o a n of M a r c h , 1863
Oregon w a r debt
F u n d e d l o a n of 1881
'.
^
.'
Total
50
100
3, 000
7, 775, 000
16,712,450
7, 057,100
54, 250
42,769,400
00
00
00
00
00
00
00
00
74,371,350 00
51, 277
488, 876
199,514
1,408
320,171
58
11
62
65
82
1, 061,248 78
50
100
3, OOO
7, 826, 277
17, 201, 326
7, 256, 614
55, 658
43, 089, 571
00
00
eo
58
11
62
65
82
3
- 7
210
462, 390
1, 002, 747
361, 315
2, 584
1,106, 474
50
00
00
00
00
50
50
15
75,432, 598 78
2,935,731 65^
55,215, 850
2, 637,850
1, 000
2, 224, 450
1, 368, 894
91,701
23
115,717
25
74
22
88
95
51
11
94
3 25
5 26
129 78
302, .317 12
802,703 05
277,984 99
2 033 39
843,13121
707,423 60
2, 228, 308 05
1
80
160, 072
200, 043
83, 330
551
263, 342
J U N E 30, 1882.
L o a n of
L o a n of
Funded
Funded
J u l y a u 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
M a r c h 1863 c o n t i n u e d a t 34 p e r c e n t . . . . . . . . . . . . . .
l o a n o^ 1881,' c o n t i n u e d a t 3^ p e r c e n t
load of 1881
. . . .
Total
55,215, 850
'2, 637, 850
1, 000
2, 224,450
00
00
00
00
00
00
00
00
60, 079,150 00
.60,079,150 0 0 '
64
75
33
53
579, 493 12
25, 771 80
2 78
'
6,77183
1, 576, 337 23
612, 039 53
- 789,401
65 929
20
108, 945
50
95
55
70
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964, 297 70
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J U N E 30, 1883.
F i v e - t w e n t i e s of 1862 .i
F u n d e d loan of 1881
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 J p e r c e n t
L o a n of M a r c h 1863 o o n t i n u e d a t 3J p e r c e n t
F u n d e d loan of 1881, c o n t i n u e d a t 3^ p e r c e n t
Total
J.
100
41, 300
661, 750
34,128,150
10,019,400
100
41, 300
661, 750
34,128,150
10, 019,400
00
00
00
00
00
00
00
00
00
00
5
1, 716
20, 760
1,171,034
233, 862
50
66
25
37
12
14
138
6, 293
186, 913
137,402
18
13
40
66
11
8
1, 578
15,466
984 120
96,460
68
53
85
71
01
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44,850, 700 00
44, 850,700 00
1,427, 378 90
329, 761 48
1,097, 617 42
O
200
5, 200
422, 550
566, 250
33, 221, 450
12,553,950
200
5, 200
422, 550
566, 250
33,221,450
12,553,950
9
187
14, 789
-19,818
1, 018,176
240,130
13
164
823
069
923
884
3
22
11, 965
12,748
741,253
208, 245
m
2,
7,
276,
31,
J U N E 30,1884.
Fivft-twpntips of 1862
.
...
F n n d e d loan of 1881
L o a n of M a r c h 1863 c o n t i n u e d a t 3^ 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 u of 1881 c o n t i u u e d a t 3^ p e r c e n t
L o a n o f J u l y 12 1882
Total
Grand total
i
00
00
00
00
00
00
46, 769, 600 00
484, 890,150 00
20, 522,486 81
00
00
00
00
00
00
50
08
25
75
97
13
35
24
94
86
93
61
85
84
31
89
'04
52
46, 769, 600 00
1, 293, 111 68
318, 879 93
974, 231 75
157,677,967 61 : 483,162, 326 59
18,915,683 41
5, 422, 589 56
13,493,093 85
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CD
T A B I i E J ^ . - S T A T E M E N T 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 1876 to 168.5,
inclusive, together with the COIN VALUE of such A P P B O P B I A T I O N S computed upo7i the average price of gold for each year in question.
'
1 s t session
2d session
44th C o n g r e s s . 44th C o n g r e s s .
Fiscal year
Fiscal year
1877.
1878.'
^
1st a n d 2d
s e s s i o n s 45th
Congress.
Fiscal year
1879.
3d session
1 s t session
2d session
1st session
45th C o n g r e s s ,
2d s e s s i o n
3d sessioii
a u d 1st session 46th C o n g r e s s . 46th C o n g r e s s . 4 7 t h C o n g r e s s . 47th Congress.^ 48th C o n g r e s s .
46th C o n g r e s s .
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
1884.
1882.
1883.
1885.
Fiscal year
1881.
1880.
td
td
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Hi
T o s u p p l y deficiencies for
the service o f t h e various
b r a n c h e s of t h e G o v e m 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
t h e Grovernment
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
F o r s u p p o r t of t h e A r m y . .
F o r t h e N"aval s e r v i c e
F o r t h e I n d i a n service
For rivers and harbors ....,.
F o r f o r t s a n d fortifications
,.For s u p p o r t of M i l i t a r y
Academy
. .
F o r s e r v i c e of Post-Office
Department.
F o r invalid and other pensions, i n c l u d i n g deficiencies
F o r consnlar and diplomatic
service
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 D i s t r i c t of C o l u m b i a
F o r miscellaneous
05
^ -.
o
$834,695 66
$2, 547,186 31
$15,213,259 21
$4, 633,824 55
$6,118,085 10
$5,110,862 39
$9, 853, 869 30
$2,832, 680 04
$4,385, 836 10
16, 057, 020 82
1.5,756,774 05
15, 868, 694 50
16,136, 230 31
16, 532, 008 93
17, 797, 397 61
20, 322, 907 65
20, 763, 842 55
21,556, 901 65
19, 724, 868
26, 797, 300
14, 028, 468
4, 713,478
9, .577, 494
275, 000
22,
26,
14,
4,
8,
-
22,011,222
26, 687, 800
14, 560, 037
4, 587, 860
11,451,300
575, 000
25,'425, 479
27,032,099
14, 903, 558
5, 219, 603
18, &88, 875
375, 000
23,713,
24, 681,
15, 954,
5, 388,
22, 346, 749
24,454,450
t8, 931, 856
5, 903,151
14,948,300
700, 000
15, 895, 065
27,621,807
12,741, 790
4, 567, 017
5, 015, 000
315, 000
58
90
90
63
00
00
24, 968, 589 68
51,279,079.39
14,153,431 70
4,734, 875 72
, 8, 322, 700 00
275, 000 00
' " ' 2 7 5 , 666'00
17, 079, 256 19
13, 539, 932 90
4, 827,665 69
56
00
95
58
61
00
503,
425,
405,
657,
976,
550,
508 23
800 .00
797 70
262 72
500 00
000 00
87
00
55
80
00
00
45
18
98
91
00
00
404
250
247
655
22
00
23
91
670, 066'66
7.4
00
12
26
00
00
290, 065 00
286, 604 00
292, 805 00
319, 547 33
316,234 28
322, 435 37
335, 557 04
318,657 50
314,563 50
5, 9217, 498 00
2, 939, 725 OO'
4, 222, 274 72
5, 872, 376 10
3, 883, 420 00
2,152, 258 00
1, 902,177 90
Indefinite.
Indefinite.
29, 533, 500 00
28, 533, 000 00
29,371,574 00
56, 233, 200 00
41, 6'I4, 000 00
68,282, 306 68
116, 000, 000 00
*86, 575, 000 00
+20, 810, 00 0 00
1, ISS, 707 50
i, 140, 747 50
1, 087, 535 00
1, 097,735 00
1,180, 335 00
1,191,435 00
1, 256, 655 00
1, 296, 255 00
1,225,140 00
' 253, 300 00
335, 500 00
427, 280 00
405, 640 00
• 480,190 00
H
W
.td
CQ
td
a
td
tdH
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td
4,134, 691 03
1, 425, 091 49
2, 226, 390 29
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 5^
7, 800, 003 86
td
td
t>
124,122, 010 92
88, 356, 983. 13
172,016,809 21
162, 404, 647 76
155,830,841 32
179, 578, 999 86
251,428,117 57
187, 911, 566 17
137,4.51,397 77
CQ
92.7
97. &
99.8
100
100
100
100
100
100
Coin v a l u e of a m o u n t a p propriated
115,061,104 12
86, 236, 415 53
171, 672, 775 59
162, 404, 647 76
155, 830, 841 32
179, 578, 999 86
251,428,117 57
187,911,566 17
137, 451, 397 77
Totals
C o i n v a l u e of o n e dollar
paper currency
0
*And reappropriation of unexpended balances, estimated at $38,000,000.
f For six months ending December 31,, 1884.
JAud reappropriation of unexpend«d balances, estimated at $66,000,000.
A
d
i
CO
o
1
State-bank
circulation.
Nationalb a n k circulation.
Demand
notes.
Legal-tender
notes.
One a u d t w o
year notes
of 1863.
Compoundinterest
notes.
S U v e r certificates.
-<o
§
1
I860..
1861..
1862..
1863..
1864..
1865..
1866..
1867.1868..
1809..
1870..
1871..
1872..
1873..'
1874..
1875..
1876..
1877..
1878..
1879..
1880..1881..
1882..
1883..
1884..
Fractional
currency,
paper.
Fractional
currency,
silver.
Total amount
in currency.
Value of paper dollar
as compared with
coin July 1 of each
year.
T A B L . E m.—STATEMENT showing the AMOUNT of NOTES, SILVEB CEBTIFICATES, and FBACTIONAL SILVEB COIN OUTSTAND'
I N G at the CLOSE of E A C H FISCAL YEAB from 1860 to 1884, inclusive.
td
td
V a l u e of curr e n c y i n gold.
-
$207.102,477 00
$207,102, 477 00
202,005,767 00
202, 005,767 00
183,792, 079 00
333, 452, 079 00 $0 86.6$288,769, 500 41
$53,040,000 00 $96, 620, 000 00
238, 677, 218 00
649, 867, 282 75
3, 351, 019 75 297, 767,114 00 $89, 879,475 00
$20,192,456 00
76.6 497 798 338 59
179,157,717 00 $3i,'235,"276'66
833, 718, 984 34
780,999 25 431,178, 670 84 153,471,450 00 $i5,666,666 66
22, 694, 877 25
38.7 322,649,246 94
142, 919, 638 00 146,137,860-00
983, 318, 685 76
472, 603 00 432. 687, 966 00 42, 338,710 00 193. 756, 080 00
25, 005, 828 76
70.4 692,256, 354 77
19, 996,163 do 281, 479, 908 00
891, 904, 685 96
272,162 00 400, 619, 206 00 3, 454, 230 00 159, 012,140 00
66.0 588, 657. 092 73
27, 070, 870 96
. 4,484,112 00 298, 625,379 00
826, 927,153 52
•208,432 00 371, 783, 597 00 1.123, 630 00 122, 394,480 00
71.7 592, 906, 769 07
28, 307, 523 52
3,163 771 00 9QQ 7R0. QP^^ n n
720,412, 002 75
141,723 00 356, 000, 000 00
555, 492 00 28,101, 810 00
70.1 505, 009, 234 52
32,626,951 75
693, 946, 056 61
• 2, 558, 874 •oo'299,' 929,' 024 66
123,739 25 356, ooo; 000 po
347, 772 00 2,871,410 00
73.5 510,050,351 61
32,114, 637 36
2, 222, 793 00;-299. 7fifi. 981 ftO
700, 375, 899 48
106, 256 00 356, 000, 000 00
85.6 599,521,769 95
248, 272 00 2,1.52, 910 00
39, 878, 684 48
717, 875, 751 06
1,908,058 00 318, 261, 241 00
96, 505 50 356, 000, 000 00
198, 572 00
89.0 638, 909, 418 44
40, 582, 874 56
768, 500 00
738, 570, 903 52
1, 700,935 00 337, 664, 795 00
88,296 25 357, 500, 000 00
87.5 646,249, 540 58
167, 522 00
40, 855, 835 27
593, 520 00
750, 062, 368 94
1, 294,470 00 347, 267, 061 00
79,967 50 356, 000, 000 00
142,105 00
86.4 648,0.53, 886 76
479, 400 00
44, 799,365 44
781, 490, 9 i e 17
1,009,021 00 .q5i-98i n.qs^ on
76,732 50 382, 000, 000 00
127, 625 00
9 L 0 711 156, 733 7 1
415,210 00
45, 881, 295 67
773, 646, 728 69
786, 844 00'3.54! 408' onS 66
70,107 50 375, 771, 580 00
87.2 674, 619, 947 42
113, 375 00
367, 390 00
42,129, 424 19
658, 938 00 332, 998, 836 00
66,917 50 369, 772, 284 00 - 104, 705 00
89.5 671, 773, 937 62
328,760 00
34, 446, 595 39 $10,926, 938 00 749, 303,473 89
521, 611 00 317, 048, 872 00
95, 725 00
63,962 50 359, 764.332 00
20, 403,137 34 33,185, 273 00 731, 379, 542 84
94.7 694, 375, 246 54
296. 630.00
426, 504 00 324, 5 i 4, 284 00
62, 297 50 346, 681, 016 00
90, 485 00
99.4 725, 083, 924 62
274, 920 00 $1,462, 600 00 16, 547,768 77 39,155, 633 00 729, 215, 508 27
352, 452 00 329, 691, 697 00
61,470 00 346, 681, 016 00
86,185 00
259, 090 00 2,466,950 00 15, 842, 605 78 39, 360, 529 00 734, 801, 994 78 1 00. 0 734, 801, 994 78
299, 790 00 344,505,427 00
60, 975 00 346, 681, 016 00
82,485 00
242, 590 00 12, 374, 270 00 *7, 214. 954 37 24, 061,449 00 735, 522,956 37 1 00.0 735, 522, 956 37
242, 967 00 355, 042, 675 00
79, 985 00
239, 250 00 51,166, 530 00 •*7,105, 953 32 19, 974, 897 41 780, 584, 808 73 1 00.0 780, 584, 808 73
60, 535 00 346,681,016 00
242, 907 00 358,742, 034 00
74, 965 00
. 5 9 , 6 9 5 00 346,681,016 00
220, 960 00 66, 090, 710 00 *1, 047, 247 77 19,130, 639 36 798, 296, 234 13 1 00.0 798, 296, 234 13
189, 253 00 356, 073,281 00
71,765 00
213,620 00 88, 616, 831 00 *7, 000, 690 81 18, 720, 942 95 817,626,384 76 . 1 00. 0 817,626, 384 76
58, 985 00 346, 681, 016 00
187, 978 00 339, 499, 883 00 • 58,440 00 346, 681, 016 00
69,765 00
207, 660 00 119, 811, 691 00 *6, 980, 061 31 18,379,088 26 831, 875, 582 57 1 00.0 831,875,582 57
^
NOTE.—The amount of State and national bank circulation is compiled from the reports of the Comptroller of the Currency at the nearest dates obtainable to the end of
each fiscal year; the other amounts are taken from the official printed reports ofthe Secretary ofthe Treasury. The one and two year notes of 1863, and the compound interest notes, though having a legal-tender quality for their face values, were, in fact, interest-bearing securities, payable a t certain times, as stated on the notes. They
entered into circulation for but a few days, if at ail, and since maturity those presented have been converted toto other interest-bearing bonds or paid for in cash, interest
included. The amount of fractional silver in circulation in 1860,1861, and-1862 cannot be stated. The amonnts stated for 1876 and subsequent years are the amounts coined
and issued since January, 1876.
To these amounts should be added the araount of silver previously coined which has come into circulation.
* Exclusive of $8,375,934, amount estimated as lost or destoyed, act J u n e 21, 187§.
^
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td
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td
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OD
TABI.E
^ . — S T A T E M E N T of the OUTSTANDING P B I N C I P A L of the P U B L I C D E B T of the UNITED STATES, June 30, 1884.
Length of
loan.
authorWhen redeem- Eate of in- atPrice
which Amount
Amount issued
ized.
terest.
• able.
sold.
Amount outstanding.
td
td
OLD DEBT.
For detailed information in regard to the earlier loans embraced under
this head, see Finance Eeport for 1876.
On demand . .
5 and 6 per
cent.
Indefinite.
$57,665 00
TEEASURY NOTES PRICE TO 1846.
Acts of October 12, 1837 (5 Statutes, 201); May 21, 1838 (5 Statutes,
. 228); March 2, 1839 (5 Statutes, 323); March 3l", 1840 (5 Statutes, 370);
February 15,1841 (5 Statutes. 411);. January 31,1842 (5 Statutes, 469) ;
August^1,1842.(5Statutes, 581); andMarch3,1843 (5Statutes, 614).
land 2 years. 1 and 2 years j \ of 1 to 6
per cent.
from date.
Par.
$51,000, 000 00
$47, 002,900 00
td
1 year
One year from ^j, of 1 to 5 | P a r .
per ceut.
date.
5 years
5 years from
(5ate.
MEXICAN INDEMNITY.
.^
TREASURY NOTES OF 1847.
5 per c e n t . - P a r .
td
td
td
H
.P>
td
10, 000, 000 00
7, 687,800 00
J20, 000 00
303,573 92
1,104 91
23, 000,000 00
*26,122,100 00
950 00
O
23, 000, 000 00
t28,230,350 00
1,250 00
H
W
5, 900 00
o
Kj
A c t o f January 28,1847 (9 Statutes, 118)
land 2 years. 1 and 2 years 5 | and 6 per
cent.
from date.
LOAN OF 1847.
Act of January 28, 1847 (9 Statutes, 118) . . . 1
20 years
BOUNTY-LAND SCRIP.
Par.
January 1,1868 6 per cent... I t to 2
percent,
prem'm.
td
Indefinite... A t the pleas- 6 per cent... P a r . . . . . Indefinite.
ure of the
goverhment.
Act of February 11,1847 (9 Statutes, 125)
TEXAN I N D E M N I T Y STOCK
td
H
O
QQ
Actof July 22, 1846 (9 Statutes, 3 9 ) . . . . .
A ct of September 9,1850 (9 Statutes, 447)
1
TREASURY NOTES OF 1857.
Act of December 23, 1857 (11 Statutes, 257)
LOAN OF 1858.
Act of June 14,1858 (11 Statutes, 365)
o
82, 525 35
TREASURY NOTES OF 1846.
Act of August 10, 1846 (9 Statutes, 94)
oo
to
233, 075 00
3.175 00
td
td
>>
14 years
January 1,1865 5 per cent... P a r .
. 10,000,000 00
1 year
1 year from
date.
Indefinite
15 years
January 1,1874 5 per cent..-, Average
prem'm
of3/oV
5, 000,000 00
20,000 00
CQ
Kj
'
3 to 6 per
cent.
Par.
,
20, 000, 000 00
52, 778, 900 00
1,700 00
20,000,000 00
2,000 00
LOAN OF 1860.
A c t o f J u n e 22, 1860 (12 Statutes, 79)
10 years.
LOAN OF FEBRUARY, 1861 (1881s).
A c t o f February 8, 1861 (12 Statutes, 129)
January 1,1871 5 per cent... P a r to
l^'oPer
ct.pr m.
21,000, 000 00
7,022,000 00
10, 000 00
6 per cent... (Av.)89.03
25, 000, opo 00
18,415,000 00
9,000 00
, 10 or 20 years Dec. 31,1880..
^
TREASURY NOTES OF 1861.,
O
td
60 days or 2 60 days or 2 6 per cent.
years a f t e r
years.
date.
Actof March 2, 1861 (12 Statutes, 178)
OREGON W A R DEBT.
A c t o f March 2, 1861 (12 Statutes, 198)
td
td
, 20 years.
P a r to Indefinite
Wjyper
ct.pr'm.
35, 364,450 00
3, 000 00
O
.hcl
J u l y 1,1881.
6 per cent.
2, 800,000 00
1,090, 850 00
6, 850 00
After June 30,
1881.
6 per cent... P a r . . . . . 250,000,000 00
189,321,350 00
210,050 00
Par.:...
H
W
LOAN OF J U L Y AND AUGUST, 1861.
QD
The act of J u l y 17, 1861 (12 Statutes, 259), authorized the issue of 20 years.
$250,000,000 bonds, with interest at not exceeding 7 per centum per
annum, redeemable after twenty years. The act of August 5, 1861
(12 Statutes, 313), authorized the issue of bonds, with interest at 6
per centum per annum, payable after twenty years from date, in
exchange for 7.30 notes issued under the act of J u l y 17,1861.
t^
td
td
LOAN OF J U L Y AND AUGUST, 1861.
o
/
Continued at 3^ per cent, interest, and redeemable at the pleasure of Indefinite... A t the pleas- 3J per cent.. P a r
ure of the
the govemment.
govemment.
254,850 00
w
OLD DEMAND-NOTES.
Acts of J u l y 17, 1861 (12 Statutes, 259); A u ^ s t 5, 1861 (12 Statutes,
313); February 12, 1862 (12 Statutes, 338).
Indefinite..- Ondemand
None .
Par
60,000,000 00
*60,030, 000 00
58,440 00
.'.
d
3years
. . Aug. 19 and 7A per cent. Av.pre.of Indefinite
Oct. 1,1864.
F I V E - T W E N T I E S OF 1862.
A c t s o f February 25,1862 (12 Statutes, 345); March 3,1864 (13 Statutes,
13), and January 28,1865 (13 Statutes, 425).
^.,
* Including i-eissuea.
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td
td
t>
CQ
SEVEN-THIETIES OF 1861.
A c t o f July 17, 1861 (12 Statutes, 259)
td
o
5 or 20 years. May 1,1867.... 6 per c e n t . . .
Av.pre. of
515,000, 000 00
t Including conversion of Treasury notes.
130,999,750 00
15,850 00
514,771,600 00
.355,250 00
td
00
T A B X . E ^ . S T A T E M E N T of the OUTSTANDING PBINCIPAL of-the PUBLIC DEBT, ^c—Continued.
Length of
loan.
When redeemable.
Eate of interest.
OO
Price
Amount outauthorat which Amount
Amount issued.
standing.
ized.
sold.
td
td
LEGAL-TENDER NOTES.
'^
The act of Febraary 25,1862 (12 Statutes. 345), authorized the issue of Indefinite..- On demand -.
$150,000,000 United States notes, not bearingiuterest,payableto bearer,
at the Treasury of the United States, and of such denominations, not
less than five dollars, as tho Secretary of the Treasury might deem
expedient, $50,000,000 to be applied to the redemption of demandnotes authorized by the act of July 17,1861; these notes to be a legal
tender in paymentof all debts, public and private, within the United
States, except duties on imports and interest on the public debt, and
to be exchangeable for six per cent. United States bonds. The act
of July 11, 1802 (12 Statutes, 532), authorized an additional issue of
$1.50.000,000 of such denorainations as the Secretary ofthe Treasury
might deem expedient, but no such note should be for a fractional
part of a dollar, and not raore than $35,000,000 of a lower denomination than five dollais; these notes to bo a legal tender as before authorized. The act of March 3, 1863 (12 Statutes, 710), authorized au
additional issueof $150,000,000 of snch denominations, not less than
one dollar, as the Secretary ofthe Treasury might prescribe; which
notes were made a legal tender as before authorized. The same act
limited the time in which Treasury notes might be exchanged for
United States bonds to July 1,1863. The araount of notes authorized by this act were to be iu lieu of $100,000,000 authorized by the
resolution of January 17,1863 (12 Statutes, 822).
None .
Par.
O
td
H
$346,681,016 00
$450,000,000 00
O
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td
QQ
td
o
td
td
H
>
td
O
hrj
TEMPORARY LOAN.
Acts of February 25,1862 (12 Statutes, 346), March 17,1862 (12 Statutes,
370), July 11,1862 (12 Statutes, 532), and June 30,1864 (13 Statutes,
218).
H
Indefinite... After ten days 4, 5, aud 6
notice.
per cent.
Par.
150,000,000 00
$716,099,247 16
1 year.
1 year
date.
after
6 per cent... P a r .
No limit.
561, 753, 241 65
Indefiuite.
On presentation.
\>
Ul
d
td
Kl
FRACTIONAL CURRENCY.
Acts of July 17,1862 (12 Statutes, 592), March 3,1863 (12 Statutes, 711),
and June 30, 1864 (13 Statutes, 220).
^.
H
td
td
CERTIFICATES OF INDEBTEDNESS.
Acts of March 1,1862 (12 Statutes, 352), May 17,1862 (12 Statutes, 370),
and March 3, 1863 (12 Statutes, 710).
m
2,960 00
None .
Par.
50, 000, 000 00 *368, 720, 079 51 |
6, 980, 061 31
LOAN OF 1863.
The act of March 3, 1863 (12 Statutes, 709), authorized a loan of
$900,000,000, and the issue of bonds, with interest not exceediug 6
per centum per annum, and redeeniable in not less than ten nor
more than forty years, principal and interest payable in coin. The
act of June 30,1864 (13 Statntes, 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, mterest, and redeemable
at the pleasure of the goyernment.
17 years.
July 1,1881... Oper cent... Average
premium of
75,000,000 00
75,000, 000 00
Indefinite... A t the pleasure 3^ p e r c e n t . . P a r .
of the govemment.
69,350 00
37,750 00
^
O
td
H
ONE-YEAR NOTES OF 1863.
Actof March 3,1863 (12 Statutes, 710)..
td
td
lyear
1 year after
date. •
5 per cent..- P a r .
400,000,000 00
44,520, 000 00
39,465 00
2 years .,
2 years after
date.
5 per c e n t . . . Par .
400,000, 000 00
166,480, 000 00
30,300 00
o
TWO-YEAR NOTES OF 1863.
Act of March 3,1863 (12 Statutes, 7 1 0 ) . . : . . . .
Act of Maroh 3,1863 (12 Statutes, 711)
Indefinite... On demand . . . None
Par .
Indefinite.
8, 592, 660 00
A c t o f March 3,1864 (13 Statutes, 13)
3 years
3 years from
date.
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 3,1805 (13 Statutes, 468).
6 per cent, Par .
compound.
400,000,000 00
266,595,440 00
207, 660 ©0
5 per cont... Par to 1 200,000,000 00
per c't
prem.
196,118,300 00
178,850 00
5 or20 years. Nov. 1,1869... 6 POT c e n t . . . Av. prem. 400, 000,000 00
of2xm.
125, 561,300 00
49,400 00
829,992,500 00
133, 800 00
Cd
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>
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3 years
Aug.. 15,1867^
15,1867)
J u n e> "15,1868
'
> 7 ^ per c't. I Av. prem. |800,000,000 00
of MoJ u l y 15,1868)
The act of Jul;^ 1,1864 (13 Statutes, 414), authorized the Secretary of Indefinite.. Indefinite.
the Navy to invest in registered securities of the United States so
much of the Navy pension fund in the Treasury J.anuary 1 and July
1 in each year as would not be required for the payment of naval
pensions. Section 2 of fhe act of July 23,1868 (15 Statutes, 170), fixed
the interest on this fund at 3 per centum per annum in lawful raoney
and confined its use to the payment of naval pensions exclusively.
* Including reissues.
Hi
o
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H
w
td'
H
td
td
>
o NAVY PENSION FUND.
td
td
IlO or 40years. March 1,1874.
FIVE-TWENTIES OF J U N E , 1864.
Act of J u n e 30, 1864 (13 Statutes, 218)
OQ
o
COMPOUND-INTEREST NOTES.
Acts of March 3,1863 (12 Statutes, 710), and Jime 30,1864 (13 Statutes,
218).
TEN-FORTIES OF 1864.
tt
td
GOLD-CERTIFICATES.
Ul
3 per c e n t . . . P a r .
Indefinite.
14,000,000 00
14,000,000 00
d
td
Kj
oo
T A M J L E ^ . S T A T E M E N T of the OUTSTANDING P B I N C I P A L of ths P U B L I C DEBT, ^c—Continued.
Length of
loan.
When redeemable.
OO
authorEate of in- . atPrice
outwhich j Amount
Amountissued. Amount
ized.
standing.
terest.
sold.
" FIVE-TWENTIES OF 1865.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
5 or 20 years. Nov. 1,1870..
6 per cent.
Av. prem, Indefinite.
$203, 327, 250 .00
$59,950 00
Av. prem. Indefinite.
of 3 x m
332,998.950 00
276, 600 00
6 per cent.. Av. prem Indefinite.
of V ^ ^
379, 618,000 00
548, 200 00
6per cent... I Av. prem, Indefinite.
of T^fxy
42,539,350 00
of 2XWTJ
CONSOLS OF 1865.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
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5 or 20 years. J u l y 1,1870 .
6 per cent.
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CONSOLS OF 1867.
Acts of March 3, 1865 (13 Statutes, 468), and AprU 12, 1866 (14 Statutes, 31).
5 or 20 years
J u l y l , 1872..
5 or 20 years
J u l y 1, 1873.
97,150 00
FIVE-PER-CENT. LOAN OF 1881.
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 pf, 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), to the extent necessary for the redemption of fractional currency in silver coins of the denominations of ten, twentyfive, and tifty cents of standard value.
The act of March 3, 1875 (18 Statutes, 466), directs the Secretary of
the Treasury to issue bonds of the cliaracter and description set out
in the act of July 14, 1870 (16 Statutes, 272), to James B. Eads or his
legal representatives in payment at par of the warrauts of the Secretary of War for the construction of jetties and auxiliary works to
maintain a wide and deep channel between the South Pass of the
Mississippi River and the Gulf of Mexico, unless Congress shaU
have previously provided for the payment of the same by the necessary appropriation of money.
On demand .
3per cent... P a r .
$75,000,000 00
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THEEE-PEE-CENT. CEETIFICATES.
Acts of March 2, 1867 (14 Statutes, 558), and July 25,1868 (15 Statutes, Indefinite..
183).
.
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CONSOLS OF 1868.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
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*85,155,000 00
5,000 00
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The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of > 10 y e a r s . . . May 1, 1881.
$200,000,000 at 5 per centum, principal and interest payable in coin
ofthe present standard value, at the pleasure of the United States
Government, after ten years; these bonds to be exerapt from the
payment of all taxes or "duties of the United States, as weU as from
taxation in any forra by or under State, raunicipal, or local authority.
Bonds and coupons payable at the Treasury of the United States.
This act r o t 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 5-20s, or to
"be exchanged for said 5-20s, par for par. Payment of these bonds,
when due, to be raade in order of dates and numbers, beginning with
each class last dated and nurabered. Interest to cease at tlie end
of three raonths ftom notice of intention to redeem. The act of January 20. 1871 (16 Statutes, 399), increases the araonnt of 5 percents
to $500,000,000, provided the total amount of bonds issued shall not
exceed the araount originally authorized, and authorizes the interest
on any ofthe.se bonds to be paid quarterly.
The act of December 17,1873 (18 Statutes, 1 j , authorized the issue of an
equal araount 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.
5 per cent.
517,994,150 00 I ^
Par.
234, 600 00
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FOUE-AND-ONE-HALF-PEE CENT. LOAN OF 1891.
FUNDIi^G.)
(EE-
The act of July 14, 1870 (16 Statutes, 272), authorizes the issueof
$300,000,000 at 4^ per centum, payable iu coin of the present standard value, at the pleasure of the United States Govemment, after
fifteen years; these bonds to be exempt from the payment of all
taxes or duties of the United States, as well as li-om 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 rederaption of outstanding 5-20s, or to be exchanged
for said 5-20s, par for par. Payraent of these bonds, when due^ to
be raade in order of dates and nurabers, beginning with each class
last dated and numbered. Interest to cease at the end of three
months from notice of intention to redeem.
h^
15 years
185,000,000 00
Sept. 1,1891... 4^ per cent., P a r .
185,000,000 00
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(EEFUNDING.)
The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of
$1,000,000,000 at4 percentum, payablein coin of thepresent standard
value, at the pleasure ofthe United States Government, after thirty
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* bf the United States. This act not to au-
n
o
$1500,000,00000
FOUE-PEE-CENT. LOAN OF 1907.
t>
30 years.
July 1, 1907..
4 per cent..
P a r to
one- half
percent
premium.
708,980,800 00
707,161,700 00
S
Co
TABI.JE
ISi.-—STATEMENT of the OUTSTANDING P B I N C I P A L of the P U B L I C DEBT, #c.—Continued.
oo
Length of When redeem- Eate of in- atPrice
authoroutwhich Amount
Amount issued. Amount
loan.
able.
terest.
ized.
standing.
sold.
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thorize an increase of the bonded debt of the United States. Bonds
to be sold at not less than par in coin, and the proceeds to be applied
to the rederaption of outstanding 5-20s, or to be exchanged for said
5-20s, par for par. Payment of these bonds, when due, to be made
in order of dates and numbers, beginning with each class last dated
and numbered. Interest to cease at the end of three months from
notice of intention to redeem. See Eefunding Certificates, page 36.
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FOUE-AND-ONE-HALF-PEE-CENT. LOAN OF 1891.—(EESUMPTION).
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, cither of the description of bonds of
the United States described in the act of July 14, 1870 (16 Statutes,
272), for the purpose of redeemiug, on and after Januai-y 1, 1879, in
coin, at the office of the assistant treasurer of the United States in
New Yorkj the outstanding United States legal-tender notes when
presented m sums of not less than fifty doUars.
W
15 years.
Sept. 1,1891... 4J per cent. P a r t o Indefinite.
one and
one - half
per cent,
p reminm.
$65,000,000 00
$65,000,000 00
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FOUE-PEE-CENT. LOAN OF 1907.—(EESUMPTION).
The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary 30 yeai-8.
of the Treasury to use any sui-plus revenues from time to time in th©
Treasury not otherwise appropriated, and to issue, sell, dispose of,
at not less than par, in com, either of the description of bonds of
the United States described in the act of July 14, 1870 (18 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 outstauding United States legal-tender notes when
presented in sums of not less than fifty doUars.
J u l y 1,1907 . .
4per cent... P a r .
Indefinite.
30,500,000 00
80,500,000 00
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CERTIFICATES OF DEPOSIT.
The act of J u n e 8, 1872 (17 Statutes, 336), authorizes the deposit of
United States notes without interest by banking associations 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 iu the Treasury
shall not be counted as a part of the legal reserve, but that the certificates issued therefor may be held and counted by the national
banks as part of their legal reserve, and may be accepted in the
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Indefinite... On demand -... None .
Par.
No l i m i t .
64,780,000 00
12,385,000 00
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«ettlement of clearing-house balances at the place, where the deposits therefor were made, and that ihe United States notes for
which such certificates were issued, or other Uidted States notes of
like amount, shall be held as special deposits in the Treasury, and
used only for the redemption of such certiticates.
.
SILVER CERTIFICATES.
t^
The act of February 28, 1878 (20 Statutes, 26, sec. 3), provides that any
holder of the coin authorized by this.act may deposit the same with
the Treasurer or any assistant treasurer of the. United States in
sums not less than ten dollars and receive therefor certificates of not
less than ten dollars each, corresponling with the denominations of
the United States notes. The coin deposited for or representing the
certificates shall be retained in the Treasury for tho payment of the
same on demand. Said certificates shall be receivable for customs,
taxes, and all public dues, and, when so received, raay be reissued.
Indefinite..- On demand . . . None
Par
Np limit
119,811,691 00
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REFUNDING CERTIFICATES.
The act of February 26; 1879 (20 Statutes, 321), authorizes the Secretary of the Treasury to issue, in exchange for lawful money of the
United States, certificates of deposit, of the denomination of ten
dollars, bearing interest at the rate of four per centum per annum,
and convertible at any time, with accrued interest, into the four per
ceutum bonds described in the refunding act; the money so received to bo applied only to the payment of the bonds bearing interest at a'rate not less than five per centum, in the mode prescribed
by said act.
Indefinite... Convertible in- 4 p e r c e n t . . . Par
to 4 per cent,
bonds.
No limit .^
40,012,750 00
290,000 00
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FUNDED LOAN OF 1881, CONTINUED AT THREE AND ONEHALF PERCENT.
These bonds were issued in exchange for five per cent, bonds of the
funded loan.of 1881, by rautual agreement between the Secretary
of the Treasury and the holders, and were made redeemable at the
pleasure of the Government.
LOAN OF J U L Y 12, 1882.
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Indefinite,.- A t pleasure of 3^ per cent.. Par
the Govemment.
533,200 00
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td.
.
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 Secretary of the Treasury and the holders, and were made redeemable at the pleasure of
the Government.
CQ
Indefinite... A t pleasure of
the Government.
3 per c e n t . . . Par
224, 612,150 00
I. 830, 528, 923 57
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OO
O.—STATEMENT of 30-YEAB 6 P E B CENT. BONDS {interest payable January and July) ISSUED to the several P A C I F I C
BAILWAY COMPANIES under the acta of July 1, 1862 (12 Statutes, 492), and July 2, 1864 (13 Statutes, 359).
la
•sl
RaUway companies.
ll.
5 1
if
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
"Westem 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
\.
i
•
00
00
00
00
00
00
64, 623, 512 00
On J u l y 1,1876:
C e n t r a l Pacific
K a n s a s Pacific
Uni(in Pacific
Central Branch Union Pacific
W e s t e m Pacific
Sioux C i t y a n d Pacific
.
.-
••
On J a n u a r y 1,1877:
C e n t r a l Pacific
K a n s a s Pacific
i
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
n
.:
.
25, 885,120
6, 303, 000
27, 236, 512
1, 600, 000
•..
• 1, 970, 560
1, 628, 320
00
00
00
00
00
00
$13, 027, 697
3,103, 893
11, 884, 324
781, 808
722, 380
682.703
67
09
65
26
14
89
$11, 804, 2.51 27
3, 292, 983 09
12, 701, 420 01
829, 808 26
781. 496 94
731, 553 49
$1,191,765
1,440, 664
3, 943, 715
44, 408
9, 367
39, 005
86
84
65
05
00
96
$10, 612,485
1, 852, 318
8, 757, 704
785, 400
772,129
692, 547
o
41
25
36
21
94
53
1, 938, 705 36
30,141, 513 06
6, 668, 927 36
23.472, 585 70
11, 804, 251
3, 292, 983
12, 701, 420
829, 808
781, 496
731, 553
776, 553
189, 090
817, 095
48, 000
- 59,116
48, 849
12, 580, 804
3,482, 073
13, 518, 515
877, 808
840, 613
780. 403
87
09
37
26
74
09
1, 231, 213 76
1,448, 327 39
4, 079, 704 77
44,408 05
9, 367 00
39,470 28
11, 349, 591 11
2, 033, 745 70
9,43«, 810 60
833, 400 21
831,246 74
740, 932 81
32, 080, 218 42
. 6, 852, 491 25
25, 227, 727 17
27
09
01
26
94
49
30,141, 513 C6
25, 885,120
6, 303, 000
27, 236, 512
1, 600, 000
1, 970, 560
1, 628, 320
12, 580, 804
3, 482, 073
13, 518, 515
877,808
840, 613
780,403
64, 623, 512 00
60
00
36
00
80
60
60
00
36
00
80
60
1, 938,705 36
87
09
37
26
74
09
776, 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
32, 080, 218 42
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
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28, 202, 807 70
64, 623, 512 00
00
00
00
00
00
00
$776, 553
189, 090
817, 095
48, 000
59,116
48, 849
Repayment of interest by transportation of maUs,
troops, &c.
ft.
Balance due the
' United States on
interest account,
deducting repayments.
TABLiC
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12
49
52
05
00
28
12, 088, 686 35
2,15.5,444 60
10, 208, 739 21
881,400 21
800, 363 54
789, 782 41
7, 004, 507 46
27,014,416 32
1, 268, 672
1, 515, 718
4,126, 871
44, 408
9, 367
39, 440
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a:
On July 1,1877:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Westem Pacific
Sioux City and Pacific
On January 1,1878:
Central Pacific
,
Kansas Pacific
Union Pacific
Central Branch Union Pacific.
Western Pacific
Sioux City and Pacific
,
On July 1,1878:
Central Pacific
Kausas Pacific
Union Pacific
Central Branch Union Pacific.
Western Pacific
,
Sioux City and Pacific
,
25, 88.5,120 00
9, 303, 000 00
27, 263, 51.2 00
1, 600, 000 00
1, 970, 500 00
1,628,320 00
1.3,-357,358 47
3. 671,163 09
14, 335. 610 73
925; 808 26
899, 730 54
829, 252 69
94,62.3,512 00
34, 018, 923 78
12, 068, 588 06
2, 328, 573 03
10, 365; 664 42
915, 309 91
949. 480 34
815,523 49
1, 938, 705 36 34, 957, 629 14
8, 514, 489 89
27, 443,139 25
14,133, 912 07,
3, 860, 253 09
15,1.52, 706 09
973, 808 26
958, 847 34
• 878,102 29
776,5.53 60
189, 090 00
817,095 36
49, 000 00
59,116 80
48, 849 60
14; 910,465 67
4, 049, 343 09
15, 969, 801 45
1, 021, 808 26
1, 017, 964 14
926, 951 89
198, 960 71
532, 450 07
134,103 84
62, 998 35
9, 367 00
68,409 65
64, 623, 512 00
35, 957, 029 14
1, 938, 705 36
37, 896, 334 50
9, 006,189 62
28, 890,144 88
25, 885,120 00 14, 910, 465 67
6, 303, 000 00 4, 049, 343 09
27,236,512 00
15. 969, 801 45
1, 600, 000 00 1, 021, 808 26
1, 970, 560 00
1, 017, 964 14
1, 628, 320 00
926, 951 89
776, 553 00
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
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, 934, 025 86
1, 002, 309 91
1, 067, 713 94
. 900, 283 50
37, 896, 334 50
1, 938,705 36
39, 835, 039 86
9, 881,444 25
29, 953, 595 61
25, 885,120 00 15,687,019 27
6, 303, 000 00 4, 238, 433 09
27, 236, 512 00 16,786,896 81
1, 600, 000 00 . 1, 069, 808 26
1, 970, 500 00
1, 077, 080 94
1, 628, 320 00
975, 801 49
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
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
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, 616, 613 09
18, 421, 087 53
1,165,808 26
1,195, 314 54
1, 073, 500 69
12, 711, 504 96
2,516,993 02
10,8.3.5,697 61
958, 808 91
1, 008. 597 14
858, 542 24
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64, 623, 512 00 39, 835. 039 1
On July 1,1879:
Central Pacific
Kansas Pacific
,
Union Pacific
,
Central Branch Union Pacific
Western Pacific
,
Sioux City and Pacific
2, 065, 324 01
1, 531, 680 06
4, 787, 041 67
58, 498 35
9,367 00
62, 578 00
25, 885,120 00
6, 303, 000 00
27, 236, 512 00
1, 600, 000 00
1, 970, 566 00
1, 628, 320 00
64,623,512 00
On January 1, 1879:
Central Pacific
Kansas Pacific...
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux Citj^ and Pacific
14,133, 912 07
3, 860, 253 09
15,152, 706 09
973, 808 26
958, 847 34
878,102 29
776, 553 00
189, 090 00
817, 095 36
48, m o 00
59,116 80
48, 849 60
10, 571,102 71
CO
td
a
td
>
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td
31, 202, 642 51
td
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
64,623, 512 00
41,773, 745 22
1, 938, 705 36 43, 712,450 58
2, 771, 419 23
2,324,910 55
7, 325, 466 49
73,142 73
9, 367 00
91, 747 39
12, 596, 053 39
14, 468, 707 24
2, 291. 702 54
11,0'95,621 04
1, 092, 665 53
1,185, 947 54
981,7,53 30
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31,116, 397 19
f4^
T A B S . ^ O.—STATEMENT of 30-YEAB 6 P E B CENT. BONDS, #c.—Continued.
2 «^ *^'b^
»-l J- o f
r
CM'O
RaUway companies.
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rl -i ©
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On J a n u a r y 1, 1880:
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 m Pacific
S i o u x C i t y a n d Pacific
On J u l y 1,1880:
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 Union Pacific
W e s t e r n Pacific
S i o u x C i t y a n d Pacific
$25, 885,120
e, 303, 000
27,236,512
1, 600, 000
1, 970, 560
1, 628. 320
00
00
00
00
00
00
$17, 240,126
4, 616, 613
18, 421, 087
1,165, 808
1,195, 314
1, 073, 500
47
09
53
26
54
69
64, 623, 512 00
43, 712, 450 58
25, 885,120
6, 303, 000
27, 236, 512
1,600,000
1, 970, 560
1, 628, 320
18, 016, 680 07
4, 805, 703 09
19, 238.182 89
1, 213, 808 26
1,254,431 34
1,122, 350 29
00
00
00
00
00
00
64, 623, 512 00 4.5.6.51.1.55 94
On J a n u a r y 1, 1881:
C e n t r a l Pacific
K a n s a s Pacific
U n i o n Pacific
Central B r a n e h U n i o n Pacific
W e s t e m Pacific
Sioux City a n d Pacific
....
$776,
189,
817,
48,
59,
48,
553
090
095
000
116
849
60
00
36
00
80
60
1, 938, 705 36
776,
189,
817,
48,
59,
48,
553
090
095
000
116
849
60
00
36
00
80
60
I. 938. 705 36
$18, 016, 680
4, 805, 703
19, 238.182
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
11.816,447
1,140, 665
1. 245, 064
1, 028, 366
37
21
92
53
34
38
un
32,130,681 75
o
td
td
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18,793, 233 67
4, 994, 793 09
20, 055, 278 25
1, 261, 808 26
1, 313, 548 14
1,171,199 89
3, 200, 389 64
2, 447, 397 28
7,804,484 37
47,621 69
9, 367 00
106, 032 57
15,592,844 03
2, 547, 395 81
12, 250, 793 88
1, 214, 186 57
1,304,181 14
1, 065. 167 32
O .
47; 589, 861 30
13, 61-5; 292 55
33 974 568 75
^
19, 569, 787 27
5,183, 883 09
20, 872, .373 61
1, 309, 808 26
1, 372, 664 94
1, 220, 049 49
3, 358, 026 85
2, 502, 724 32
7,992,^936 82
74,967 91
9,367 00
114, 424 58
16, 211, 760 42
2, 681,158 77
12, 879, 436 791, 234, 840 35
1,363,297 94'
1,105,624 91
49, 528, 506 66
14, 052, 447 48
35,476,119 18-
td
25, 885,120 00 18, 793, 233 67
6, 303, 000 00
4, 994, 793 09
27, 236, ,512 00 20, 055, 278 25
1, 600, 000 00 1, 261, 808 26
1, 970, 560 00 1, 313. 548 14
1, 628, 320 00 1,171,199 89
64, 623, 512 00 47, 589, 861 30
776, 55^ 60
189, 09b 00
817. 095 36
48, 000 00
59,116 80
48, .849 60
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^
On J u l y i; 1881:
Central Pacific
,
Kansas Pacific
,
Union Pacific . ,
Central Branch Union Pacific
Westem Pacific
Sioux City and Pacific
,
25, 885,120 00 19, 569, 787 27
6, 303, 000 00
5,183, 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
64, 623, 512 00 49,528,566 66
On Janaary 1, 1882:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City aud Pacific
25, 885,120 00 20, 346, 340 87
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
On July 1,1882-:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific
Western Pacific
Sioux City and Pacific
51, 467, 272 02
25, 885,120 00 21,122, 894 47
6, 303, 000 00 5, 562, 063 09
27,2:^,512 00
22, 506, 564 33
1, 600, 000 00 1,405,808 261, 970, 560 00 1,490, 898 54
1, 628, 320 00
1, 317, 748 69
64, 623, 512 00 53,405, 977 38
On January 1, 1883:
Central Pacific . . .•
Kansas Pacific
Union Pacific
Central Bianch Union Pacific
Wostern Pacific
Sioux City and Pacific
On J u l y l , 1883:
Central Pacific
Kansas Pacific
Union Pacific
Central Branch Union Pacific.
Western Pacific
Sioux City and Pacific
25, 885,120 00 21, 899, 44.8 07
6, 303, 000 00 5,751,153 09
27, 236, 512 00 23, 323, 659 69
1, 6U0, 000 00
1,453, 808 26
1, 970, 560 00
1,550,015 34
1, 628, 320, 00 1, 366. 598 29
64,623,512 00
55, 344, 682 74
2.5, 885,120 00
6, 303, 000 00
27, 236, 512 00
1, 600, 000 00
1, 970, 560 00.
1,628,320 00
22, 676, 001 67
5, 940, 243 09
24,140, 755 05
1, 501, 808 26
1, 609,132 14
1, 415, 447 89
116, 553 60
20,346,340 87
189, 090 00
5,372,973 09
817, 095 36 • 21, 689,468 97
48, 000 00
1, 357, 808 26
59,116 80
1,431,781 74
.48, 849 60
1, 268, 899 09
3,496, 942 83
2, 565, 443 44
8,135, 878 56
93, 515 38
9,367 00
124, 979 14
1, 938, 705 36 51, 467, 272 02 14, 426,126 35
776. 553 60
189, 090 00
817, 095 36
48, 000 00
59,116 80
48, 849 60
21,122, 894 47
5, 562, 063 09
22, 506, 564 33
1, 405, 808 26
1, 490, 898 54
1, 317, 748 69
1, 938, 705 36 53,405, 977 38
3, 600, 920 51
2, 625, 289 51
8, 227, 294 70
109, 032 06
9, 367 00
135, 982 56
16, 849, 398 04
2, 807, 529 65
13, 553, 590 41
1,264. 292 88
1,422,414 74
1,143, 919 95
37, 041,145 67
17,521,973.96
2, 936, 773 58
14, 279, 269 63
1, 296, 776 20 .
1,481,531 54
1,181, 766 13
14, 707, 886 34
38, 698, 091 04
21, 899, 448 07
5, 751,153 09
23, 323, 659 69
1, 453, 808 26
1. 550, 015 34
1, 366, 598 29
3, 812,411 95
2, 725,458 33
8, 453, 537 60
124, 639 85
9, 367 00
95, 278 57
18, 087, 036 12
3, 025, 694 76
14, 870,122 09
1, 329, 168 -41
1, 540, 648 34
1,271,319 72
1, 938, 705 36 55, 344, 682 74
15, 220, 693 30
776, 553 60 22, 676, 001 67
189, 090 00
5, 940, 243 09
817, 095 36 24,140, 755 05
48, 000 00
1,501,808 26
59,116 80 . 1,609,132 14
48, 849 60
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
776, 553 60
189. 090 00
817, 095 36
48,000 00
59,116 80
48, 849 60
1, 938, 705 36 57, 283, 388 "10 16,123, 860 59
40,123, 989 44
18, 4.58, 797 68
3,121.913 37
15,324,766 20
1,339,177 62
1,599,765 14
1, 295, 107 .50
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41,159, 527 51
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64, 623, 512 00 57, 283, 388,10
"
776, 553 60
189, 090 00
817,095 36,
48, 000 00
59,116 80
48, 849 60
23, 452, 555
6, 129, 333
24, 957, 850
1, 549, 808
1, 668, 248
1, 464, 297
27 4,592,158 25
09 • 2, 969, 049" 59
41 8, 933, 292 87
26
152,157 10
94
9,367 00
49
121, 355 39
1, 938, 705 36 59, 222, 093 46
16,777,380 20
18,860,397 02
3, 160, 283 50
16, 024, 557 54
1,397,651 16
1,658,881 94
1, 342, 942 10
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42,444,713 26
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T A B I i E O.—STATEMENT of THIBTY-YEAB SIX PEB CENT BONDS, #c.—Continued.
Railway companies.
O n J a n u a r y 1,1884:
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 i n Paci fie
Sioux C i t y a n d Pacific
On J u l y 1,1884:
C e n t r a l Pacific
^.
K a n s a s Pacific
U n i o n Pacific
Central Branch Union Pacific
W e s t e r n Pacific . . . ,
S i o u x C i t y a n d Pacific
Aniount
of
bonds o u t standing.
Amount of interest a c crned a n d
paid to date.
$25,
6,
27,
1,
1,
1,
$23, 452,
6,129,
24, 957,
I. .549,
i; 668,
1, 464,
885,120
303, 000
230, 512
600, 000
970, 500
028, 320
00
00
00
00
00
00
555
333
850
808
248
297
27
09
41
26
94
49
64, 623, 512 00
59, 222, 093 46
25, 885,120
6, 303. 000
27, 236. 512
1,600,000
1, 970, 560
1,628,320
24, 229,108
6, 318, 423
25, 774, 945
1, 597, 808
1, 727, 365
1,513,147
00
00
00
00
00
00
64,623, 512 00
87
09
77
26
74
09
61,160, 798 82
Amountof interest d u e
as per Register's schedule.
$776,553
189,090
817, 095
48, 000
59, n 6
48, 849
60
00
36
00
80
60
1, 938, 705 36
776, 553
189, 090
817, 095
48, 000
59,116
48, 849
60
00
36
00
80
60
1, 938, 705 36
Total i n t e r est paid by
the United
States.
$24, 229,108
6,318,423
25, 774, 945
1, 597, 808
1, 727, 3G5
1, 513,147
87
09
77
26
74
09
>|i-
^
R e p a y m e n t of
interest b y
t r a n s p o r t a, t i o n of mails,
troops, &c.
$4, 752,173
3, 054, 923
9, 522,138
162, 398
9, 367
130, 892
80
61
82
38
00
37
Balance d u e
the United
States on
i n t e r e s t aocount, d e d u c t i n g repayments.
$19,
3,
16,
1,
1,
1,
476,
203,
252,
435,
717,
382,
935
499
806
409
998
254
07
48
95
88
74
72
61, 160,798 82
17, 631, 893 98
43, 528, 904 84
25, 005, 662 47
6, 507, 513 09
26, 592, 041 13
1,645, 808. 26
1, 786, 482 54
1, 561, 996 69
4, 784, 617 43
3,055,291 60
10, 006,107 79
162, 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
63, 099, 504 18
18,148, 923 41
44,950,580 77
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&d
-STATEMENT of UNITED STATES BONDS and other OBLIGATIONS B E C E I V E D and ISSUED by the OFFICE of \ he SECB E T A B Y o f the TBEASUBY, from November 1, 1883 to October 31, 1884.
Description.
L o a n of 1858, a c t of J u n e 14,1858
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 , 1 8 6 1 . . :
,
S e v r n - t h i r t y n o t e s of 1861, a c t of J u l y 17,1861
L o a n of J u l v a n d Ausin'st, 1861, a c t s of J u l y 17, a n d A u g u s t 5,1861
F i v e - t w e n t y b o n d s of 1802, a c t of F e b r u a r y 25, 1862
Pacific r a i l r o a d b o n d s , ' a c i ^ of J u l y 1, 1862, a n d J u l y 2,1864
•..
. L o a n of 1803 (18Sls). a c t < 1' M a r c h S , 1863
G o l d certificates, a c t of M . i r c h 3,1863
T e n f o r t v b o n d s of 1864, a c t of M a r c h 3,1864
S e v e n - t h u i . y n o t e s of lf-64-'65, acf 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 1864, a c t of J u n e 30, 1864
F i v e - t w e n t y b o n d s of 1865, a c t of M a r c h 3,1865
C o n s f . l s o f \¥Q5, a c t o f M a r c h 3,1865
C o u s o l s of 1807, a c t of M a r c h 3,1865
C o n s o l s of 1868, a c t of M a r c h 3,1805
F u n d e d lo-an of 1881, a c t s of J u l y 14, 1870, a n d J a u u a r y 20,1871
F u n d e d loan of 1891, a c t s of J u l v 14,1870, a n d J a n u a r y 20, 1871
F u n d e d loau of 1907, a c t s of J u l y 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 deposit, a c t of J u n e 8,1872
3^.1)er c e u t . b o n d s , 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 . bondsj a c t o f M a r c h 3,1863
3^ 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 .
Issued.
Received
for e x c h a n g e a n d R e c e i v e d for r e demption.
transfer.
$5, 000
3, 000
1,300
100
35,100
3,800
$4, 378, 000 00
00
00
00
00
OU
00
$4, 378, 000 00
5, 550 00
621. 800 00
77, 250 00
1, 800 00
1, 050 00
22,200 00
22,150 00
130. 650 00
,15, 650 00
142, 200 00
40, 972, 300 00
92, 669, 400 00
35, 005, 000 00
40. 972, 300 00
92, 600,150 00
39, 416, 050 00
39, 416,050 00
212, 440, 750 00
177, 366, 500 00
29, 770, 000 00
' 133,100 00
55, 700 00
5, 347, 700 00
91, 771, 000 00
128,166,160 00
Total.
td
$5, 000 00
3,000 00
1,300 00
100 00
35, 100 00
3,800 00
8,756,000 00
5,550 00
621,860 00
77, 250 00
1,800 00
1,050 00
22, 200 00
22, 150-00
130, 650 00
15, 650 00
142, 200 00
81, 944.600 00
185,2G9. 550 00
64, 775,000 00
133, 100 00
55. 700 00
5, 347,700 00
170, 603,100 00
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517,973,410 00
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T A B I . E C|. -DESCBIPTION of D I S T I N C I T V E P A P E B - S I L K - T H B E A D E D FIBEB—MANUFACTUBED, S H I P P E D , and D E L I V E B E D ,
for the fiscal year ended June 30, 1884.
a:)
DESCRIPTION OF PAPER.
^.2
National currency.
Transactions.
cc
05
^<^
•'-'00
fHOO
CQr-i
fl flr-<
Remainder*
Delivered by P r i n t i n g Bureau as imperfect impressions d u r i n g t h e year*
B a l a n c e s in 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 b y Sec' r e t a r y ' s b o o k s J u n e 30, 1884
B a l a n c e s in 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 b y i t s
books J u n e 30,1884..-..
. ;-.
1
O oo
III
R e g i s t e r e d b y a u t o m a t i c r e g i s t e r to e n d of fiscal y e a r
1883.
..'
D e s t r o y e d a t raill i m p e r f e c t t o .end of fiscal y e a r 1883.
S h i p p e d from niill p e r f e c t to e n d of fiscal y e a r 1 8 8 3 . . .
B a l a n c e on h a n d a t t h e mill J u n e 30, 1883
R e g i s t e r e d b y a u t o m a t i c r e g i s t e r d u r i n g fiscal y e a r 1884
T o t a l t o b e a c c o u n t e d for b y t h e U . S. s u p e r i n tendent
D e s t r o y e d a t t h e raill (rejected) d u r i n g t h e y e a r
S h i p p e d frora mill d u r i n g t h e y e a r
B a l a n c e s i n .^ecretai-y's office J u n e 30, 1883
T o t a l t o b e a c c o u n t e d for b y t h e S e c r e t a r y ' s office.
L e s s s h e e t s d e s t r o y e d as m u t i l a t e d b l a n k p a p e r
Remainder
B a l a n c e s i n S e c r e t a r y ' s ofiice J u n e 30, 1884
......
D e l i v e r e d t o B u r e a u EDgr:iviug a n d P r i n t i n g d u r i n g
the year.
'
B a l a n c e s in B u r e a u E n g r a v i n g and P r i n t i n g J u n e 30,
188.3*
T o t a l t o b e a c c o u n t e d for b y B u r e a u E n g r a v i u g a n d P r i n t i n o-* . . 1'
.'
D e l i \ e r e d b y P r i n t i n g B u r e a u as p e r f e c t i m p r e s s i o n s
United States check.
Certificates.
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617, 439 2, 525, 238
1, 754, 004
54, 000 143.150
11,806
8, 899,.55i
2, 525, 238
1, 754, 004
184, 004
225, 238
2, 300, OOU
1, 570, 000
1,720,825 iio," 955
77,195
4, G20, 825 110, 955 1, 647,195
886
933
10, 051, 111 3, 0U8, 971 4, 019, 939 110, 022 1, 647,195
4,860,891 1, 219, 473 3, 208, 588 83, 092
506, 645
552, 675
552, 675
334, 076
334, 076
552, 675
467, 940
334, 076
147, 843
54, 000 143,150
11,806
7,620
4,000
806
11 nnn
50, 000 135, 530
48, 516 26, 524 12.3,237 5,000 " ' 5 2 9
98, 516 162, 054 123, 237 16, 000 ' 529
529
98, .516 162, 054 123, 237 16, 000
58,146 92, 495 93 892 s ^'^^
26, 930 1,140, 550
84,735
186, 233
40, 370
69, 559
29, 345 7,560
9, 376, 351
53. 781
129, 237
33,419
20, 468
22, 226
1, 505, 203§
3, 793,914
617, 439
293, 914
117.439
3, 500, OUO
500, 000
6, 551, 111 2, 508, 971
10,051,111 3, 008, 971
5,190, 220 1, 789, 498
557, 349
397,801^
811, 351
224,152J
53
66, 717
5, 747, 569 2,187, 299i 1, 035, 503^ 26, 983 1, 207, 267
4, 951, 018 1, 4.59, 2441
796, 551
728, 054i
257. 346
539, 205
539, 205 .
575, 891
16 1,100, 000
107, 267
459, 612^ 26, 967
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315,470
73, 789
90, 027
51, 571 7,560
10, 881, 554f
298, 356f
17.113^
69, 325
4,464
80, 900
9,127
47, 950 7,200
8,621
360
8, 665, 90H
2,215,6.53^
Ul
6,046
11, 868J
3, 613
4,348
565,318.
a
443
1, 650, 335^
443
1, 650, 335J
59, 527
563, 781S
405, 016^ 26, 804
56,470
5,245
851
4,779
563,781|
405, 016^ 26, 804
47, 740
56, 470
5,245
851
4, 779
3,178
.360
•Included in these amounts are the sheets of United States notes and 5 per cent, registered bonds—one of each denomination—furnished the Russian Government and the
Corean Embas.sy as specimens.
td
76, 000
62,516
47, 740
54, 596
8, 899, 551
833, 021
8, 066, 530
12,059,614'
20,126,144
2,348
20,123, 796
10, 747, 445
w
138, 516
163
164,272*
H
O
28, 335, 529 10, 474, 238 3, 373, 485 584, 628 2,149, 270 1,152,775 1,114, 253 348,170 301, 516 342, 066 17,124'18, 196 48. 211, 250
249, 270
91, 253 106,170 42, 516 28,116 2,124 1 1 9 6 6, 258, 300
3, 685, 529 1,474,238
119, 775
373,485 84, 628
24, 650. 000 9, OOU, UUO 3, UOO, 000 500, UOO 1, 900, 000 1,033, OUO 1, 023, 000 "242, 000 259, 000 313, 950 15, 000 17, 000, 41, 952, 950
3, 793, 914
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T A B I I E m . — S T A T E M E N T of D I S T I N C T I V E PAPEB—SILK-THBEADED FIBEB—issued from the OFFICE of the SECBETABY of the
TBEASUBY to the BO B E A U of ENGBAVING 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
C UBBENC Y, S E B I E S 1882, for fiscal year 1884.
\
Transaction.
Combinations.
Denominations.
N u m b e r of
sheets.
Amount.
lO's.
. 5's.
B A L A N C E S . — B a l a n c e s in 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 30,1883.
5.5.5,5
10,10,10,20
50,100
Total balances
B L A N K P A P E W . . — 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 u g a n d
P r i u t i u g fi'om t h o Office of t b e S e c r e t a r y of t b 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
5,5,.5,5
10,10,10,20
50,100
Total blank paper
B a l a n c e s 1883, b r o u g h t d o w n
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 NOTES.—Delivered by Bureau- E n g r a v i n g and
P r i n t i n - j 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 n g fiscal y e a r 1884.
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)
I M P E R F E C T NOTES.—Delivered by Bureau E n g r a v i n g and
P r i n t i n g t o t h e Olfice 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 fiscal y e a r 1884.
5, .5,5,5
10,10,10,20
50,100
Total delivered (imperfect)
B A L A N C E S . — B a l a n c e s in 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 1884.
Total balances
-
5,5,5,5
10,10,10,20
50,100
109, 899
109, 778
4, 480:!,
$2,197, 980
224,152^
2,197, 980
442, 391
349, 435
19 525
8, 847, 820
811,351
224, 152i
8, 847, 820
2,197, 980
.10,483,050
3, 293, 190
1,035,503^
11, 045, 800
575, 891
6, 319, 460
32,130
20, 660
. 1, 806
642, 600
54, 596
642, 600
-
10>S.
H
$2,197,980
5, 488, 050
1 344 1.50
448, 050
896,100
9, 030, 780
1, 952, 500
3, 905, 000
8, P41, 820
17.471,7.50
5, 857, 500
0, 988, 700
2,195, 460
1, 9.52, .500
448, 050
3,905. ono
896,100
3'^ 177 070
9,030,780
13, 776, 240
9,184,100
2, 400, 550
4,801,100
41 207 850
td
H
7, 505,190
5, 003, 460
974, 500
1, 949, 000
6, 319, 400
12, 508, 650
2, 923, 500
Kj
974, 500
1, 949, 000
21 751 610
O
180, 600
361, 200
64^ 000
1 033* 000
541 800
td
180, 600
361, 200
2, 217, ,400
H
1, 245, 450
2,490,900-
4, 083, 740
9,418,750
3, 736, 350
Ul
•3, 293,190
7,505,190
$2,195, 400
2,195, 460.
6,988,700
5, 003, 460
619,800
. 413,200
619, 800
413,200
204,187
188,375
12, 454^
4, 083,740
405, 016^
4, 083, 740
5, 651. 250
3, 767, 500
i , 245, 450
2,490,900
17,238 840
575, 891
54. 596
405, 016^
6, 319, 460
642, 600
4, 083, 740
7, 505,190
619, 800
5, 651, 250
5, 003. 400
413, 200
3, 767, 500
974, 500
180. 600
1,245,4.50
1, 949, 600
361, 200.
2, 490, 900
21, 751, 610
2,217,400
17, 238, 840
1, 035. §03^
11, 045, 800
13,776, 240
9,184, 160
2, 400, 550
4,801,100
41, 207, 850
"'
td
O
$896,100
"io,"483, 050
6, 319, 460
50's. ^
$448, 050
$3, 293,190
315, 973
250,173
9,745
•20's.
5,65i,'250
3, 767, 500
O
>^
H
w
02
td
o
PD
P:
td
d
Kl
RECAPITULATION.
D e l i v e r i e s t o C o m p t r o l l e r ' s Office b r o u g h t d o w n
D e l i v e r i e s t o S e c i 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 30.1884, b r o u g h t d o w n
rf^
T A J B E , ! : ^.—STATEMENT of DISTINCTIVE PAPEB—SILK-THBEADED FIBEB—issued from .the OFFICE of the SECBETABY of
the TBEASUBY to tlie B U B E A U of ENGBAVING and P B I N T I N G , and D E L I V E B I E S of the'same for NATIONAL-BANK CUBBENCY,
SEBJES 1875, for fiscal year 1884.
Combinations.
B a l a u c e s i n 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 See F i n a n c e R e p o r t
J n n e 30, 1883.
' 1883.
BLANK PAPER.—Delivered to Bureau Engrav5,
5,
5.
5
i n g a n d P r i n t i n g from t h e Office of t h e Sec10, 10, 10, 10
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 10, 10, 10, 20
i n g n o t e s d u r i n g t h e fiscal y e a r 1884.
10, 10, 20, 20
10, 10, 20, 50
10, 20, .50, 100
10, 50, 50, 100
20, 20, 20, 20
20, 20, 20, 50
20, 20, 50, 100
50, 50. 50, 100
50, 50
50, 100
100, 100
500
500, 1000
500, 500, 500, 500
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 s 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 n g t h e fiscal y e a r 1884.
T o t a l d e l i v e r e d (perfect)
N u m b e r of
sheets.
Denomination.
5's.
397, 801i $3, 845, 960
1, 035, 000 20, 700, 000
51, 000
650,110
1,500
180
3, 300
8,000
5,
5,
10, 10,
10, 10,
10, 20,
10, 20,
20, .50,
50, 50,
20, 20,
20, 20,
20, 50,
50, 50,
50, 50
50, 100
100, 100500
.500, 1000
500, 500, 500,
5
10
20
20
50
100
100
20
50
100
100
lO's.
20's.
50's.
lOO's.
500's.
1,000's.
$5, 505, 580
$3, 815,220
$2, 361, 750
$3, 215, 600
$416, 500
$306, 000
2, 040, 000
19, 773, 300
30, 000
13,182, 200
60, 000
.
1,800
'
264, 000
480,000
2,000
1, 500
26, 575
1,000
333
18,000
18, 000
$19,
20,
2,
32,
406, 610
7U0, 000
040, 000
955, 500
90,000
37,800
264, 000
880, 000
400, 000
300, 000
300, 000
2,657,500
200,000
500,
300,
7, 972,
400,
499,
5,315.000
400, 000
4^,500
000
000
500
000
500
hD O
pj'^
H
O
t ^
H
lie
td
Ul
t^
o
p:.
• tr
>
Pi
2,187, 299^ 24, 545, 960
5,
10,
10,
10.
10,
10,
10,
20,
20,
20,
50,
oo
835,182
46, 450
538, 753
683
600
27, 350, 680
17, 801, 420
6, 037, 250
9,148, 600
916, 000
306, 000'
18, 703, 640
rio
1; 858.
16,162,
13,
12,
000
590
660
000"
10, 775, 060
27, 320
12, 000
1,200
.5, 070
6,995
8.50
1, 772
1, 450^
20, 626^
625
25-1
42^
30, 000
i2, 000
'""405," 600
419, 700
34, 000
349, 750
42, 500
265,800
290, 100
2, 062, 650
12,000
85, 000
177, 200
4,12.5, 300
250,000
38, 000
42, 500
85, 000
80, 500
85, 000
86,105, 910
o
16, 703, 640
1, 858. 000
26 937 650
40, 980
54, 000
w
25,
405,
769
161,
443
290,
6,187,
250,
38,
127,
200
600
450
500
000
100
950
000
000
500
500
1,459, 244-a 16,703,640
18, 047,450
11, 673, 680
3,052,800
4, 649. 500
54, 292, 570
H
Pi
td
l>
CO
a
Pi
Kj
IMPERFECT NOTES.—Delivered by Bureau of
Engraving and Printing to the'Office of the
Secretary of the Treasury for destruction
during fiscal year 1884.
5,
5,
5,
10,
10, 10,
10,
10, 10,
10, 10," 20,
20,
10, 10,
50,
10, 20,
20,
20, 20,
20,
20, 20,
50,
20, 20,
50,
50, 50,
500, 500, 5 00,
50,
10, 50,
50, 1 00
50
50,
100, 1 00
500,10 00
5 00
Ox
fco
•^
.
>f-
•
T o t a l delivered (imperfect)
..
B A L A N C E S . — B a l a n c e s i h 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, 1884.
"
•
Total balance
...
D e l i v e r e d C o m p t r o l l e r ' s Office (perfect)
D e l i v e r e d S e c r e t a r y ' s Office ( i m p e r f e c t )
5
10
20
-50
20
100
20
50'
100
100
500
100
.
5,
10,
10,
10,
10,
20,
10,
20,
20,
50,
5,
5,
10,
10,
10,
10,
10,
20,
10,
20,
20,
50,
50.
50,
20,
20;
20,
20,
50,
50,
50, 1 00
50,
50
100, 1 00
500,10 00
5 00
, 5
10
20
20
50
100
100
20
50
100
102,770. $2, 055, 400
4,268
.51,080
241
103
23
785
980
386
287
9
3
2, 849^
334
108
27^
18f
$170,
1, 532,
4,
2,
720
400
820
060
230
$1, 021, 600
4,820
4,120
460
62, 800
58, 8u0
15, 440
$12, 05()
1,150
$2, 300
49, 000
19, 300
43, 050
38,600
28, 700
$18, 000
30
300
284,950
66, 800
300
569,900
43,200
27, 500 '
28, 000
^ 164,272f
2, 055, 400
289, 346
28, 232
214, 402
714
839
1, 358
57
4, 069
4,108
3, 435
14, 797*
959|
929
83
452t
5, 786, 920
563, 781f
5, 786, 920
7, 592, 970
4, 959, 700
2, 507, 850
1, 459, 244f 16, 703, 640
164, 2 7 2 | 2, 055, 400
18, 047, 450
1, 710, 260
11, 673, 680
1,168, 040
3, 052, 800
476,600
1, 710, 260
• 1,129,
6, 432,
14,
16,
280
060
280
780
1,168, 040
4, 288,
28,
16,
54,
040
560
780
320
570
325, 520
246,480
476, 600
41, 950
67, 900
5,700
205, 400
515, 250
1,479,750
191, 900
683, 000
135, 800
5,700
73, 500
$.55,000
55, 000
....
343, 500
2, 959, 500
371, 600
6, 221, 800
5, 786, 920
1,129,280
10, 720,100
42, 840
75, 510
258, 020
11, 970
325, 520
451, 880
858, 750
4,439, 250
191, 900
371, 600
249, 000
679, 000
td
O
Si
H
O
H
W
Ul
^
•
OW
^td
H
Pi><•
O
83, 000
679, 000
166, 000
3,816.100
762, 000
166, 000
25, 591, 540
4, 649, 500
683, 000
80, 500
73, 500
85, 000
55, 000
54 292 570
6,221,800
• Pi
60, 514, 370
2.5, 591, 540
->.
86,105, 910
d
T o t a l d e l i v e r e d d u r i n g fiscal y e a r 1884
B a l a n c e o n h a n d J u n e 30, 1884
1, 623, 517i 18, 759, 040
563, 7 8 1 | 5, 786, 920
19, 757, 710
7, 592, 970
12, 841, 720
4, 959, 700
3, .529, 400
2, 507, 850 .
5, 332, 500
3, 816,100
154. 000
762, 000
140, 000
166, 000
T o t a l a c c o u n t e d for
2,187, 299^ 24, 545, 960 •27,350,680
17, 801, 420
6, 037, 250
9,148,600
916, 000
306, 000
$2, 055, 400
170, 720
2, 554, 000
21, 690
6,180
4,140
62, 800
107, 800
73, 340
71, 750
18,000
630
854, 850
66, 800
43, 200
82, 500
28, 000
td
td
Ul
Pi
Kj
•1^
50
REPORT
OF
THE
SECRETARY
OF
THE
TREASURY.
TAMILWI T . — 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
F l h E B — I S S U E D from the O F F I C E of the S E C B E T A B Y of the TBEASUBY to the
B UBEA U of ENGBA VING and P B I N T I N G , and D E L I V E B I E S of the SAME, f o r
.
the P B I N T I N G of {sundry money-value) U N I T E D STATES S E C U B I T I E S , for the
fiscal year ended Jime 30, 1884.
TRANSACTIOJ^S I N T H E BUREAD OF/ E N G R A V I N a A K D P R I N T I N G .
Name of security.
Denominations.
UNITED STATESNOTES, SERIES Sheets.
1880.
Is
2s
5s
10 s
20 s
50 s
100 s
Balances
on hand
J u n e 30,
1883.
557, 259
$664, 800
1, 276, 800
2,721,200
2, 415, 960
2, 800, 000
Accounted for as follows:
Receiyed
from t h e Total to be
S e c r e t a r y accounted Delivered D e l i v e r e d B a l a n c e s
during
, for.
as perfect a s imper- on h a n d
year.
during
fect dur- J u n e 30,
year.
ing year.
1884.
5,190,100
$8,
5.
33,
23,
12,
6,
6,
422,
086,
356,
040,
600,
300,
380,
000
SCO
000
000
000
000
000
5, 747, 359
$9,
6,
36,
25,
15,
6,
6,
086,
363,
077,
455,
400,
300,
380,
800
600
200
960
000
000
000
4; 951, 000
$8,
5,
29,
20,
12,
6,
6,
412,
304,
400,
800,
000,
000,
000,
257, 154
539, 205
000 $433,144
000
274, 624
000 1, 485, 800
000 1, 228, 000
000
568, 000
300, 000
OOU
380,000
000
$241, 656
784„976
5,191, 400
3, 427, 960
2, 832, 000
9, 878, 760 95,184, 800 105, 063, 560 87, 916, OOU 4, 669, 568 12,477, 992
Totals
UNITED STATESNOTES, SERIES Sheets.
'1880.
I's
(Specimens — one note of
2's
each denomination for
5's
lO's
the Russian G r o v e r n ment and the - Corean
20's
Embassy.)
50's
.lOU's
500 s
1,000 s
Totals
90
120
210
18
192
$40
80
200
400
800
2,000
4,000
20, 000
40, 000
$40
80
•200
400
800
4,000
8,000
40, 000
40, 000
$80
160
400
800
1,600
6, 000
12, 000
60, 000
80, 000
$8
16
40
80
160
400
800
4,000
. 8,000
$72
144
360
720
1,440
5,600
11, 200
56, 000
72, 000
67, 520
93, 520
161, 040
13, 504
147, 536
SILVER C E R T I F I C A T E S , S E R I E S Sheets.
66,717 1,140, 550 1, 207, 267 1,100, 000
59, 527
47, 740
1880.
lO's $1, 805,120 $29, 645, 000 $31,450,120 $28,500,000 $1,581,920 $1,368,200
20's 1, 727,120 29, 838, 000 31,565,120 29, UOO, 000 1, 482, 32U 1, 082, 800
50's
3,190, 000 3,190, 000 3, OUO, 000
190, 000
4,200,000 4,200,000 4, 000, 000
/ lOO's
200,000
Totals
GOLD
3, 532, 240 66, 873, 000 70,405, 240 64, 500, 000 3,454, 240
CERTIFICATES, N E W
YORK SERIES.
1
Totals
Sheets.
345
20's
$27,600
.^
='
27, 600
GOLD CERTIFICATES, DEPARTMENT SERIES.
Sheets.
345
345
$27, 600
$27, 600
27, 600
27, 600
•
53, 436
84, 735
138,171
76,000
5,701
2, 451,000
56,470
20's $2, 974,160 '$4, 200, 000 $7,174,160 $3, 680, 000 , $228,000 $3,'266,160
50-s 3, 251, 800 2,100,000 5,351,800 2, 000, 000
256, 400 3,095, 400
lOO's
4, 2U0, 000 4, 200, 000 4, 000, 000
133, 600
66, 400
50U's
11,120,0001 11, 120,000 10, 000. 000 1, 120, 000
1,000 s
22, 700, 000 22, 700, 000 20, 000, 000 2, 700, 000
Totals
UNITED STATES REGISTERED
BONDS 5 PER-CENT FUND
ED LOAN.
(Specimens—one uond of
each denomination for
the R u s s i a n Government and t h e C o r e a n
Embassy.)
Totals
6, 225, 960 44, 320, 000 50, 545, 960 39, 680, 000 4, 438. 000
Sheets.
50 s
lOO's
500's
1,000's
5, OOO's
1.0, OOO's
20, OOO's
50, OOO's
53
80
133
16
117
$450
500
3,500
4,000
35, 000
50, ooo!
160, 000
400. UOO
$500
1,000
5, 000
10, 000
50. 000
lOo! 000
200, 000
500, 000
$950
1, .500
8,500
14,000
85, 000
150, 000
360, 000
900, 000
$100
200
1,000
2, 000
10, 000
20, 000
40, 000
100, 000
$850
1, 300
7,500
12, 000
'. 75,000
130, 000
320, 000
800, 000
653, 450
866, 500
1, 519, 950
173, 300 1,346, 650
6,427, 960
51
REPORT OF THE SECRETARY OF THE TREASURY.
TAB1.E
m . — 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—4^c.—Contmued.
i
'
TRANSACTIONS I N T H E BHREAIT OF ENGRAVING AND PRINTING—Cbntinued.
N a m e of s e c u r i t y .
UNITED STATES REGISTERED
F U N D E D LOAN, 4^ PER
CENTS AND 4 PER CENTS.
Balances
on h a n d
J u n e 30,
1883.
Denominations.
Sheets.
A c c o u n t e d for a s follows:
Received
from t h e T o t a l t o b e
Secretary accounted Delivered Delivered Balances
during
for.
as p e r f e c t a s imper- on h a n d
^ year.
fect d u r - J u n e 30.
during
ing year.
1884.
year.
26, 850
lOO's
1, OUO's
10, OOO's
50, OOO's
Totals
46
26, 850
26,804
$945, 000
$945, 000
14, 250, 000 14, 250, 000
21, 000, 000 21, 000, 000
52, 500, 000 52, 500, 000
$942, 000
14, 250. 000
21, 000, 000
800, 000 51, 700,000
88, 695, 000 88, 695, 000
803, 000 87, 892, 000
$3,000
RECAPITULATION.
United States notes, series
1880
. . .
D n i t e d S t a t e s n o t e s , series
1880 (speciraens)
Silver certiticates, s e r i e s
1880
G o l d certificates, N e w Y o r k
s e r i e s ...•.
Gold certificates, D e p a r t m e n t s e r i e s '.
Dnited States registered
bonds,- 5 p e r c e n t , (specimens) . ^
Dnited States registered
b o n d s 4^'s a n d 4 ' s . .
N a t i o n a l currency, series
1875 N a t i o n a l currency, series
1882
$9, 878, 760 ,95,184, 800 105, 063, 560 $87,916,000 4, 669, 568 12,477, 992
67, 520
93, 520
13, 504
161, 040
147, 536
3, 532, 240 66, 873, 000 70,405,240 64, 500, 000 3, 454, 240
27, 600
27, 600
6, 225, 960 44, 320, 000 50, 545, 960 39,680,000 4, 438, 000
653, 450
866, 500
1, 519, 950
2,451,000
27, 600
6,427, 960
173, 300 1, 346, 650
88, 695, ,000 88, 695, 000
803,000 87, 892, 000
19, 466, 610 66, 639, 300 86,105, 910 54, 292, 570 6, 221, 800 25, 591, 540
9,030,780 32,177, 070 41, 207, 850 21. 751, 610 2, 217, 400 17, 238, 840
48,882,920 394.849.190 443, 732,110268 326. 984 23, 325, 794 152, 079, 332
G r a n d aggreo"ates
..A.,,,.
T A B I I E v . — S T A T E M E N T .of UNITED STATES S E C U B I T I E S UNISSUED,
and M U T I L A T E D in PBOCESS of BBINTING, B E C E I V E D by the O F F I C E of the
> SECBETABY of the TBEASUBY for F I N A L COUNT, EXAMINATION, and DESTBUCTION during the fiscal year ended June 30, 1884.
Title of security.
Dnited !^-tates bonds unissued
Dnited !-W ates national bank currency, unissued
Dnited Si ates notes, series of 1880..."'.
Dnited States notes, series of 1880 (specimens). . .
Dnited States vsilver certificates
Dnited States gold ceitifi(;ates, series of 1882
—
Dnited States bonds mutilated in printing
;..,
Dnited States bonds, speciraens, mutilated in printing
.
Dnited States national bank currency mutilated in printing, series of 1875
United States national bank currency mutilated in printing, series of 1882
District of Columbia bonds unissued
•.
Aggregate destroyed
.....'.
Total.
$303, 949, 500 00
514.560 00
4, 669, 568 00
147, 536 00
3, 454,240 00"
46.5,
600 00
4,
803, 000 00
1, 346, 650 00
6, 221,800 00
2, 217, 400 00
26, 700 00
327,816,554 00
T A B i . 1 : T.- -STATEMENT of INTEBNAL-BEVENUE STAMP PAPEB—WATEB MABKED—MANUFAC TUBED, S H I P P E D , DELIV-
Cn
E B E D , and BALANCES, for the fiscalyear ended Ju7ie 30, 18S4.
T r a n s a c t i o n s i n 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 .
Cutting and transfer, c r e d i t account.
T r a n s a c t i o n s i n 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 .
A c c o u n t e d for as follows.
A c c o u n t e d for a s follows.
i.9
D e s c r i p t i o n of p a p e r .
3=S
^ ^
'^t 1 l i6 Z.\
u fl
© o
^ .^ fl
^5
Carried
from—
- 2 ^ fl
I?
SH
ocg
-S^-^
ce
III
(CM
S
PQ
S h e e t s for—
s33 1,901,000
Beer stamps
s731
150, 000
Sheet tobacco stamps
S h e e t suuff s t a m p s
......
10, 000
S t u b snuff" s t a m p s
479,
1, 000, 000
Stub tobacco stamps
10,
20, 000
E x p o r t t o b a c c o a n d c i g a r stamps]
59,
E x p o r t distilled spirits s t a m p s
354,
400, 000
Tax-paid stamps
527,
300, 000
Warehouse stamps
327,
.500, 000
R e c t i f i e r s ' s t a m p s .'
Imported liquor staraps
338,
100, 000
Wholesaleliquor dealers'stamps]
53,
160, 000
25's, c i g a r s t a m p s
1, 793,
, 326, 000
50's, c i g a r s t a m p s
1,
408,
800,
000
lOO's, c i g a r s t a n i p s
15, 000
250's, c i g a r s t a m p s
11,
200's, c i g a r s t a m p s
,
32,
500's, c i g a r s t a m p s
35, 000
Brewers' permit stamps
179,
220, 000
lO's, c i g a r e t t e s t a m p s
239,
20's, c i g a r e t t e s t a n i p s .
220, 000
50's, c i g a r e t t e s t a m p s
lOO's, c i g a r e t t e s t a m p s , . . . . . .
14,
10, oool
20, 000
69, 500
6, 700
100, 000]
174, 592
11, 460
35, 000
152, 255
175, 000
4, 286. 333 3, 370, 300
1.54,5311
94, 050
69, 5001
69, 500
16, 700
8, 300
1, 479, 765
987, 220
30, 943
17, 660|
59, 848
46, 090
854.1761
649, 935
100, 000
727; 850
376, 700
174, 5921
652,760
444, 890
71, 200
613,071
276, 900
213, 745
207, 250
5,119,102 4, 736, 000
36, 000 2,172, 626i 1, 015, 200
26, 301
23, 880
11,4601
11,460
21, 292
18, 780
• 41,611
33, 840
87, 255
464, 047
438, oool
474, 224
465, 300l
160, OOOl
8, 570
4,150i
25, lOOi
'
25,550!
361
3, 000
130
ll
1,1231
25|
18
915, 672
57, 481
8,400
492, 415
13, 082
13, 758
203.118
35i; 125
207, 852
4
336,167
2, 098]
4, 3971
2, 504
380, 598
1, 027| 1,156, 399
7
2, 414
25, 645
1, 297
2
2, 474
7, 771
402
7, 627
4,418
4421
PH
245, 403
55, 412l
20, 7521
3, 594
185, 659
431
9501
55, 284
47,170
46, 943
19, 085
25, 603
16,891
225, 220
82, 300
4, 220
2, 097|
3,1
4421
16, 000
17, 300
3, 886
4, 315|
CH
•
o
1 '^ fl
•fl
Carried
to-
o
o^g
CO, ^ P H
If
W •
' 0.9
03
00".
Ul
W
00
o
f-l p f l
g-S^
M
3, 370, 300 3, 615, 703 3, 253, 000 94, 200
149, 4621 123, 000 5,2.33 1
94, 050
69, 500'
90, 252|
75, 000 2,971 1
8, 3001
11,894
8,000 2, 259
987, 220 1,172, 879 1,024,800 30, 265
17, 860
17, 903
500
15, 000
' 46.090
47, 040
38, 000
965
649,935
705,219
604. 500 37, 852
376, 700
423, 870
366, 000 17,774
491, 833
444, 890
422, 500 20.021
19, 085
302, 503|
262, 000 10,198
276,!
224,141
207, 2501
203, 000 8, 811
4,736, 000 4, 961, 220| 4, 641, 000 111, fiOO
1, 015, 200 1, 097, 500 1, 016, 000 22,300
28,100
23, 880
934
24,000
13, 557
11,460
307
13,000
22, 766|
18, 780
21, 000
505
34, 282!
33, 840
871
27, OOU
454. 000
438, 000
408. 000 12,409
465, 300
482, 6001 431, 000 17,200
4,150|
8, 036|
6,000
748
?5, lOOi
29, 4151
25, 000
565 1
ft
O OM
M1 ® fleJ
268, 503
21, 229
12, 281
1,635
117, 814
2,403
8. 075
62, 867
40, 096
49, 312
19, 085
30, 305
12, 330
208. 320
59, 200
-^ 3,166
250
1, 261
6,411
33,591
34, 400
1,288
3,850
t>
.
t ^
O
H
W
W
H
ft
1-oz. t o b a c c o s t a m p s
2-oz. t o b a c c o s t a m p s
3-oz. t o b a c c o s t a m p s
4-oz. t o b a c c o s t a m p s
8-oz. t o b a c c o s t a m p s
16-oz. t o b a c c o s t a m p s
^ a n d 1-oz. snuff s t a m p s . . . ;
2-oz. snuff" s t a m p s 3-oz. snuff s t a m p s
4 a n d 8-oz. snuft" s t a m p s
6-oz. snuff s t a m p s
16-oz. snuff s t a m p s
S p e c i a l t a x 1881 s t a m p s
S p e c i a l t a x 1883 s t a m p s
S p e c i a l t a x 1884 s t a m p s
Private-die stamps
Adhesive stamps
.'
S u r p l u s p a p e r , size 12Jxl6 .
Aggregates
150,
251,
154,
826,
562,
23,
26,
16,
5,
17,
44,
23,
22,
24;
5OO,O0O|
2,100, 000
200,'000
1, 812, 000
1, 030, 000
160, 000
90, 000
30, 000
15, 000
35, 000
160,000
20, 000
480, 000
,057,
317,
1, 057,158
564, 510
247, 255
1247, 255
201
336, 9001
650, 600!
418
8, 351, 837 2, 469, 000
119
354, 580 - 182,000
2,152
3,623, 3811 2, 776, 800
247
1, 592, 028| 1,183,000
1, 012
181, 300
183, 577
143
116,119
97, 250
365
61, 949
57, 40(
5, 000
530
26
52, 6341
47, 820
106
204,121
177, 600
43,291
34,120
22, 6761
22, 676
230
24, 276
24, 046
1, 041
439, 562
480, 000
313, 5801
882, 419
172, 461
844, 429
408,781
1,265
18, 726
4,184|
4, 470i
4, 788
26, 415
9,171
336, 900|
19, 949|
122, 600! 2, 469, 000
182, 000
15, 400|
125,000 2, 776, 800
121, 500 1,183, 000
181, 300
37, 800'
97, 250
9, 050|
1, 750
57, 400
530
3, 372
47, 820
177,600
16,295
34,120
399
24, 046
439,562
39, 397
113,1981
901
247, 255
13, 810, 387 15, 784, 000 1, 255, 017 2, 312,175 28, 537, 229 21, 328, 033
356,'8491
306, 500| 9,449
2, 591, 6001 2, 397, 500 41, 900
178, 500 5,000
197,4001
2,901,800 2, 681, 000 60, 700
1, 304, 5001 1,197, 000 40, 400
219,100
213, 000 4,800
100, 300
93, 000 3, 200
59, 150|
51, 000 1,000
530
500
51.192
43, 000 1, 186
193, 8951 171, 000 4,495
34,519
29, 000
727
24, 046
439, 562
113,198
901
22, 900 1,146
423, 750 12, 740^
113,198 1
901
40,900
152, 200
13, 900
160,100
67,100
1,300
10,100
7,150
. 30
7,006
18,400
4,792
3, 071^
247, 255
7,143, 353 1, 669, 769
22, 997, 802 [20, 814, 450 699, 630^ 1, 4 8 3 , 7 2 1 |
ft
ow
O
H
w
ft
Ul
* These sheets of private-die stamp paper were sold to the Fairchild Paper Company, being no longer available for printing intei-nal-revenue stamps,
t These sheets constitute the balauce left of the adhesive-stamp paper wheu the law of March 3, 1883, went into effect.
ft
o
ft
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o'
ft
H
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ft
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Or
T A B L . E "W.—STATEMENT 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 by the OFFICE of the SECBETABY of the
TBEASUBY, for FINAL COUNT, EXAMINATION, and DESTBUCTION, during the fiscal year ended June 30, 1884.
Ol
Denominations.
Totals.
T i t l e of s e c u r i t y .
$7,
47,
37,
253,
555,
U n i t e d S t a t e s n o t e s , s e r i e s 1878.
U n i t e d S t a t e s n o t e s s e r i e s 1880 9,117,
Dnited States notes, n e w issue..
U n i t e d S t a t e s n o t e s s e r i e s 1869'
U n i t e d S t a t e s n o t e s s e r i e s 1874
455
540
270
642
621
980
5's.
lO'S.
20'S..
$152. 400
1, 375, 620
$304,640
4, 069,130
$328, 740
3, 772, 480
4, 094, 505
5, 004, 700
8, 389, 945
185
2, 929, 760
4, 429, 830
3, 632, 510
220
30
2, 918. 280
5, 496, 560
1,156, 220
140
300
2's.
I's.
$10, 708'
00
67, 332
00
48, 316
00
469,156
00
630. 402
00
00 7, 208, 594
Onft-vf»ar notfts of 1863
T w o - v e a r n o t e s of 1863
40
350
368, 070
8,029,110
.
-740
50'8.
lOO's.
500's.
$41. 500
$54,200
$21, 000
$ n , 000
32, 000 1, 515, 000
538, 350 1, 243. 300
1, 995, 750
801, 500
271, 800 1, 775, 200 1, 078, 000
1, 610, OUO 2, 658, 300 1,152, 000 3, 758, 000
419, 600
167, 400
50
$185, 000
10,000'S.
$100, 000
200
200
400
560, 000 1, 569, 000
595, 200
88, 500
11, 000
512, 700
859, 700 1,146, 000 1, 437, 000 3, 405, 000 13, 860, 000
436, 000
6, 932, 260
1, 210,100
1,158, 900
. 118, 040
72,900
201, 000
444, 500
1, 430 900
428, 550
329, 500
1, 500
38,190 27, 948. 715 31, 062, 744 19, 482. 480
5, 972, 965
8, 085, 500
347, 000
Gold certiticates. N e w T o r k ,
s e r i e s 1882
G o l d certificates, W a s h i n g t o n ,
s e r i e s 1882
5,000's.
. ..
200
1,050
602, 700
300, 600
C o m p o u n d i n t e r e s t n o t e s of 1864.
l.OOO'S.
654, 000
99, 270
National
c u r r e n c y 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
redeeraed
and retired
10. 420 50
100,175 00
2, 204, 963
8.334
2, 521, 670
61, 000
$941. 643
12. 660, 752
2, 882, 836
13, 790, 343
25, 580, 413
30, 092, 249
545
380
200
440
2, 540
4,130, 970
15, 874,170
00
00
00
00
00
00
00
00
00
00
00
00
00
Redeemed internal-revenue stam
.
38
H
O
ft
H
w
ft
Ul
ft-
23,076,700 00
a
1,490, 440 00
99, 270 00
2, 870 00
ft
6, 935, 837 50
pi
93, 098, 769 00
o
10,130,103 50 8, 481, 032 49,171, 033 .57. 447. 374 43, 283, 240 13, 414, 915 16, 482, 80O 5, 672, 000 9, 026, 000 3, 590, 000 13, 960, 000
T o t a l s '.
pi
ft
hj
O
2, 420, 620 16J
;>.
ft
H
w
ft
Denominations.
United States fractional currency.
United
United
United
United
United
United
United
States
States
States
States
States
States
States
fractional
fractional
fractional
fractional
fractional
fractional
fractional
c u r r e n c y first i s s u e
currenc:^% s e c o n d i s s u e
currency ,.third i s s u e . .
currency -, f o u r t h i s s u e
c u r r e n c y , f o u r t h issue, second set
c u r r e n c j% f o u r t h issue, t h i r d seri es
c u r r e n c j% fifth i s s u e . .
•
5c.
10c.
$15 04^
$30 00
45 00
20 00
$40
60
184
716
15c.
00
20
25
20
$256 02
25c.
$75
75
302
1,208
00
13
99
94
6, 855 07
$100
50
503
' 314
'1, 203
1,403
3,002
8,517
6,576 50
•.
A g g r e g a t e of r e d e e m e d U n lted S t a t e s sec u r i t i e s rec(j i v e d for de s t r u c t i o n . .
4,168 80
15 04
95 00
5,169 45
256 02
.
pi
ft
50c.
•
Totals
3c.
13
00
00
50
75
00
00
25
245
230
1, 025
2, 495
1,203
1,403
14, 026
00
33
78
91
00
00
12
233,102, 616 80^
;>
Ul
a
Pi
REPORT OF THE SECRETARY OF THE TREASURY.
55
T A B J L E H.—BECEIPTS and DISBUBSEMENTS hy UNITED STATES ASSISlANT TBEASUBEBS during the fiscal year ended June 30, 1884.
.
'
BALTIMORE.
Balance June 30, 1883..'.
On account of
On account of
On account of
On account of
On' account of
On account of
On account of
On account of
On account of
On account of
,
customs
internal revenue
certificates of deposit, act of June 8, 1872
Post-Office Department
transfers
'
patent fees
disbursing ofiicers
semi-annual duty .
redemptions
'.
.-.•—
miscellanebus
$9,865,112 14
$2, 434, 582 38
570, 469 24
5, 915, 000 00
314, 673 78
7,403,494 55
130 00
2, 676, 866 34
52, 833 45
1, 201, 850 00
27, 004 26
20, 596, 904 00
30, 462. 016 14
DISBUESEMENTS.
On account of
Onaccountof
On account of
On account of
On account of
On account of
On account of
Treasury drafts
:
Post-Office drafts
disbursing officers
..:
interest
•.
'.
transfers
.^
certificates of deposit, act June 8, 1872
fractional currency (silver and minor coins) redeemed..
Balance Juue 30, 1884
3,652,697 41
329,135 09
2,48.5. 726 35
853, 844 04
5,558, 301 57
5, 690, 000 00,
1.204, 010 00
,....:....
,
19.773,714 46
10,688,301 68
BOSTON.
Balance June 30,1883 -
On accountof
On account of
On account pf
, On account of
On aocount of
On account of
On account of
On account of
On account of
On account of
1
customs
certificates of deposit, act June 8,1872
Post-Office Department
transfers
patent fees
disbursing officers
semi-annual duty . . :
the Secretary oi the Treasury
redemptions
mivscellaneous
'
$23,891,155 01
:...
$23,599,992 17
4^ 935, 000 OO1, 903,102 44
13, 070, 517 42
8, 436 65
• 35, 479, 958 15
,
427, 064 67
12, 036 87
1,256, 476 00
3, 782, 914 17
^
.
108,366,653 ,55
DISBURSEMENTS.
On account of
Onaccountof
On account of
On account of
On accountof
On account of
On account of
On account of
On account of
Treasury drafts
}
$16, 459; 715 88
Post-Oftice drafts
2,008,386 42
disbursing officers
36,128, 545 82
interest
' 6,878,196 65
transfers
r.
15,346,701 12
certificates of deposit, act June 8,1872
5, 015, 000 00
standard dollars exchanged.
.534,050 00
fractional currency (silver and minor coins) redeemed..
734, 500 47
miscellaneous
,
2, 207 49
$83,107,303 85
Balance J u n e 30,1884
25,259,349 70
56
REPORT OF T H E SECRETARY OF THE
TREASURY.
T A B L E ^ . — B E C E I P T S and DISBUBSEMENTS, ^c—Contmued.
CHICAGO.
Balance June 30,1883
...'.
$14, 853,414 61
RECEIPTS.
On account of customs
'.
On account of internal revenue
On account of sales of public lands
.'
On account of gold certificates
Ou account of certificates of deposit, act J u n e 8,1872
On account of Post-Office Department
:
On account of transfers:
Treasurer's
Standard dollars
On account of patent fees
On account of disbursing oflicers
On account of semi-annual duty
On account of the Secretary of the Treasury
On account of repayments
On account of silver exchanged ..'.
On account of miscellaneous
•-
=
$4, 515, 564 93
1, 868, 802 35
1, 200, 600 53
980, 000 CO
770, 000 00
3, 366,006 83
20,681,734 04
506,260 00
7, 543 00
10, 813,382 50
47, 228 26
1, 652 96
941,102 82
58, 620 00
15, 302 18
:
,
45, 773, 800 40
60, 627, 215 01
DISBURSEMENTS.
On accour.t of Treasury drafts
Onaccountof Post-Ofiice drafts
On account of disbursing officers
On account of the Secretary of the Treasury
Onaccountof interest
-•
On account of gold certificates
On account of silver exchanged
On account of transfers......'
;
On accouut of United States notes mutilated
• On account of certificates of deposit, act June 8,1872
On account of .fractional currency (silver and minor coins) redeemed..
On account of miscellaneous
13, 595, 544 36
4,109,415 76
11, 314,110 68
491 39
866,243 74
5, 000 00
37,560 00
5, 610, 821 58
4, 268, 000 00
1,190, 000 00
15, 530 00
996 25
Balance June 30,1884
' •
41,013,713 76
19, 613, 501 25
CINCINNATI.
Balance June 30, 1883
$4,612,341 77
RECEIPTS.
Qn account of cufltoms
On account of internal revenue
On account of gold certificates
On account of certificates of deposit, act June 8,1872
On account of Post-Office Department
On accoiint of transfers:
Treasurer's
Standard dollars
On.account of patent fees
On account of disbursing officers'.
.On accountof semi-annual duty
:..
On account of the Secretary of the Treasury
On account of interest
On account of repayments
^
On account of redemptions
On account of miscellaneous
$1, 280, 543 25
44,667 57
195, 000 00
2, 085, 000 00
1,428,449 84
.:
13,783, 826 60
85, 600 00
4,110 00
1, 835, 809 06
82,593 92
2, 865 10
578, 825 15
21, 710 16
613, 979 00
42,703 25
22, 085, 682 90
26,698,024 67
,
-
On account of
On account of
On account of
On account of
On account of
On accountof
On account of
On account of
On account of
On account of
DISBURSEMENTS.
Treasury drafts
Post-Oftice drafts
disbursing officers
interest
1
'.
gold certificates
:
silver certificates
transfers
:
,
United States notes mutilated
certificates of deposit, act June 8, 1872.
fractional curreucy (silver and minor coins) redeemed-..
'
Balance June 30, 1884
"
."
$2, 300, 644 65
1, 539, 368 58
1, 824,423 63
578, 825 15
120, 000 00
1,374,000 00
8,454,569 53
1, 854, 000 OO
2, 500, 000 00
608, 969 00
$21,154, 800 54
5, 543, 324 13
REP(3RT OF THE SECRETARY OF THE TREASURY.
57
WAMI^m^K.—BECEIPTS and DISBUBSEMENTS, ^^c—Continued.
N E W ORLEANS.
'
$.11,191,437 07
Balance June 30, 1883
RECEIPTS.
On
On
On
On
On
account of customs
:.
account of internal revenue
account of sales of public lands.-.
account of Post-Office Department
account of transfers:
Treasurer's
1
Standard dollars
On account of patent fees
On account "of disbursing officers
On account of assay office, ordinary expenses
On account of semi-annual duty .. ^
On account of the Secretary of the Treasury
On accouut of repayments
..!....'
On account of redemptions
On account of miscellaneous
.$2,446,57106
614, 398 32
577,440 09
729,549 51
,
26, 295, 769 87
4, 000, 500 00
305 00
3, 065,127 83
'
9 00
31, 318 29
9, 990 77
135, 061 52
3, 364,146 36
26, 284 42
:
41,296,472 04
52, 487, 909 11
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-Office drafts
....:...
On account of disbursing officers
On account of interest
:
On account of gold certificates
On account of silver certificates
Onaccountof transfers
".
On account of United States notes mutilated
On account of fractional currency (silver and minor coins) redeemed...
Balance Juiie 30, 1884
Balance J u n e 30, 1883
4, 312, 369 58
936, 880 95
3, 329, 647 02
271,123 69
6,100 00
11, 043, 000 00
15,928,753 25
1, 057,121 00
200 00
'.
N E W YORK.
36, 885.195 49
15,602,713 62
^
$124, 390,702 84
RECEIPTS.
On account of customs
^
$138, 052, 669 90
On account of internal revenue
..
'
21ii, 608 15
On account of gold certificates, July 12, 1882
34, 550, 000 00
, On account of certificates of deposit, June 8, 1872
7, 245, 000 00
On account of Post-Office Department
7, 739, 306 21
On account of transfers:
Treasurer's
-.
136,247.625 40
Silverdollars
3,159,710 00
On account of patent fees
'
4,196 00 '
On account of disbursing officers
274, 923, 653 99
On account of assay office:
^
Bullion
".
41,294,126 96
Ordinary expenses
< 153, 700 00
On account of serai-annual duty
400,224 99
On account of Secretary of the Treasury
61, 883 05
On aecount of interest
39,792, 065 27
On account of redemption of United States bonds
2, 580,167 26
On account of purchase United States bonds, account of sinking fund.
1,151, 425 00
On account of miscellaneous
.:
10, 238, 835 56
_
.
697, 814,197 74
,
On
On
On
On
,
DISBURSEMENTS.
822,204,900 58
account of Treasury drafts,
$257, 956, 060 15
account of Post-Office drafts
8,185,278 27
account of disbursing officers
i
116,138, 010 30
account of assay office:
Bullion
14,588,254 44
Ordinary expenses
153,194 71
On account of interest
39,792,065 27
On account of United States bonds redeemed
2, 580,167 26
On account of United States bonds purchased for the sinking fund
1,151,425 00
"^
On account of Louisville and Portland Canal Company, bonds redeemed
3,000 00
On account of gold certificates, July 12, 1882, canceled
22, 750,000 00
On account of gold certificates, July 12, 1882, Washington series
1,438, 000 00
Oh account of gold certificates, old issue.
888, 220 00
On account of silver certificates
:
12,726,000 00
On account of transfers
..:
165, 398, 941 77
On account of United States notes mutilated
."^
35, 272, 599 00
On account of national bank notes mutilated
6, 565, 000 00
On accouut of certificates of deposit, J u n e 8, 1872
6, 920, 000 00
On account of fractional currency redeemed
5, 111 00
On account of fractional, silver, and minor coins redeemed
13, 860 00
$692, 525,187 17
Balance June 30, 1884
129,679,713 41
United States gold certificates, act July 12, 1882, redeemed at Washington, not included in above
statement, $554,700.
58
,
REPORT* OF THE SECRETARY OF THE TREASURY.
TAMI:J1B:^,—BECEIPTS and DISBUBSEMENTS, ^^c—Conthmed.
PHILADELPHIA.
Balance J u n e 30, 1883
$23,864,467 26.
' RECEIPTS,
On account of cu.stoms
On account of certificates, act June 8, 1872
On account of Post-Office Department
On accountof transfers
On account of patent fees
:
•
On account of disbursingofficers
On account of semi-anhual duties
On account of
raiscellaneous
$13, 236, 928 28
5, 285. 000 00
1, 822, 860 40
13,116,-603 68
4, 261 65
17,752,856 15
144, 613 24
2,434,596 32
.-.
:
53, 797, 719 72:
77, 662,186 98
DISBURSEMENTS.
On account of Treasury drafts
On account of Post-Office drafts
On account of disbursing otficers
On account of interest
-.„,..
On account of transfers
On account of certiticates of deposit, act June 8, 1872
Balance June 30, 1884
10, 386, 804 53
2,107,920 15
17, 928, 525 18
2, 933, 648 74
9, 515, 349 92
5, 91.5, 000 00
48, 787, 248 52
'.
28, 874,938 46.^
SAINT LOUIS.
Balance, June 30,1883
^.
$13,052,260 19
On accouut of customs
On account of internal revenue
On account of sales of public lands
.\
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 account of disbursing officers
On account of assay office:
Ordinary expenses
Bullion
On account of serai-annual duty
./t
Onaccount of redemptions
Ou account of miscellaneous....
'
•.
$1, 756, 041 10
15,505 68
141, 299 18
500, UOO 00
2,121,606 38'
.\.
.;
26,737,843 37
255,950 00
4, 053 50
10, 211, 777 57
4, 068
40,000
28, 881
1, 609,198
848,980
70
00
55
65
75
44, 275, 206 43' 57, 327,466 62:
DISBURSEMENTS.
Ofl account of Treasury drafts
.'
On account of Post-OflSce drafts
On account of disbursing officers
On account of assay office:
^.
Ordinary expenses
Bullion
-On account of interest
,;.
On accountof transfers
On account" of United States notes mutilated
On account of certificates of deposit, act June 8, 1872
On account of fractional currency redeemed
.Balance June 30,1884 .1
,
$10,669,215 10 .
2,186,111 40
10,769,037 47
5, 276 24
47,021 33
490, 484 04
13,152,183 21
290, OOO 00
465, 000 00
130 00
$38,074,458 79'
19, 253, 007 83
REPORT OF THE SECRETARY OF THE TREASURY.
^ >
59
T A B I . E X.—BECEIPTS and DISBUBSEMENTS, #c.—Continued.
SAN FRANCISCO.
'
K
Balance June 30,1883
*$70, 005, 614 10
RECEIPTS..
On account of customs
On 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
Ou account of semi-annual duty
On account of repayments
On account of miscellaneous... 1
.'
$7, 656, 947 23
3, 345, 580 18
969,306 89
843, 926 89
•
12,433, 065 96
2,066,500 00
18,534 60
12, 602, 036 76
11, 695 39
149, 965 67
.643, 905 99
.
•
40, 741, 465 56
110, 747, 079 m
DISBURSEMENTS.
On account
On account
On account
Ou account
On account
of Treasury drafts
of Post-Office drafts
of disbursing officers
of interest
of transfers
1
Balance June 30,1884
10,436, 798 54 ,
1, 095, 773 34
11, 645,017 04
607,179 29
1,850,000 00
;
25,634,768 21
, 85,112,311 45
* Including reserve fund, $2,240,000.
•XiaKHcMY
19
REPORT OFTHE SUPERVISING SPECIAL AGENT.
TREASURY DEPARTMENT,
O F F I C E OF T H E SECRETARY,
Washington, D. G.j If ovember 14, 1884.
S I R : I have the honor to submit the following report of the work of
t h e Special Agency Service of the Treasury Department for the fiscal
year endeci June 30,1884:
Jkfoney paid into the Treasury :
Ou account of seizures
Fines and peualties
Suits
Duties
Miscellaneous.
1
Total . . . . . . '
•
,
•
Iiumber of suits brought, 5 1 :
Amount involved in suits
^ Number of seizures
Appraised value of seizures
Duties on seizures
Reduction in expenses recommended
Number of reports received
$32,649
14,799
32,628
592,690
33,314
47
2267
20
82
706,082 38
'.
....$212,335 41
275
$79,893 63
|14,081 56
$14,178 99
' 4,796
Of these reports 112 relate to smuggling, 441 to undervaluation, 81 to
misconduct of customs of&cers, 263 to seizures, 84 to inspection of customs districts, 44 to arrests made, 44 to suits, and 3,727 to miscellaneous
subjects.
'
•
'
Examinations of nearly all the important customs collection districts
show that the customs business generally is conducted according tothe
law and regulations. In only one of the districts was the discovery^
* made that all Government funds were not properly accounted for. At
Oorpus Christi there was found a shortage in the collector's accounts of
about $1,700, and. upon the failure of that officer to satisfactorily explain
the discrepancies the President promptly suspended him from office and
designated a successor^to discharge the duties of collector until the end
of the next session of the Senate.
It,has for years been practicable to make regular anuual examinations at all the ports except New York, where, in consequence of the
large volume of business transacted it has not heretofore been deemed
iidvisable to attempt such a thorough inspection of the,custom-house ks
is made at the smaller ports. Such inspectious could, however, be made
by skilled officers with benefit to the service, and I have reason to believe that the head of the several customs departments at New York
would welcome them as a means of improving the methods of business
64
REPORT OF THE SECRETARY OF THE TREASURY. ,
and the correction of irregularities which, owing to the complicated
business and hurried inanner in which it is conducted, are not likely to
be discovered. These regular annual'examinations are, as a rule, a
source of satisfaction to the collectors of the several ports, inasmuch as
they give them renewed assurance that the public interests intrusted to
their charge are being properly cared for, and that their employes are
neither derelict in their duties nor guilty of peculation in office.
EVASIONS OF T H E R E V E N U E .
In my official report dated November 20,1883,1 had occasion to state
that ^^undervaluations ofmerchandise subject toad valorem duties had
alarmingly increased, and that the wisdom and ingenuity ofthe manufacturing and exporting classes of the old world and of their skillful
agents in this country were employed in devising ways and means to
take every conceivable advantage of our tariff laws.'' This statement
was indignantly denied by importers and others at the port of New
York, and proofs to sustain the allegation were loudly demanded. By^
direction of the late Secretary Folger a statement was prepared in the
form of a rei3ort dated December 1, 1883, giving a portion of the information on the subject contained in the, reports of the special agents
and United States consuls.
This statement, which exposed the names of firms and the devices
resorted to by them to evade the revenue, was extensively' published
in the press of this country aud Europe, and I am informed that the
publication caused great alarm and consternation among manufacturers
on the continent, who, for many years have maintained their American
trade in defiance of a protective tariff, and at the expense of the United
States Treasury.
The immediate effect of these publications has been to augment values
in consigned invoices, and to largely increase the revenues from these
sources. But no permanent suppression of the practice of undervaluation can be expected until the actof June 22,1874, under the protection
of which this system of fraud has grown up, shall be repealed. It is no
exaggeration to state that the invoices of merchandise consigned to
agents in the. United States for sale, as distinguished from those of
goods actually purchased by American importers, clo not represent more
than two-thirds of the actual foreign market value of the goods therein
described. An illegal reduction of the tariff' on these goods is thus
effected by the fraudulent acts of European manufacturers and their
agents. In fact the European manufacturer, by the fictitious values he
places upon his goods for customs purposes, fixes the amount of tax to
be paid thereon subject onh' to such additions as the greater or lesser
skill and vigilance of the appraising officers may impose. However competent and faithful the appraisers may be in fixing values according to
their expert knowledge, their siction is always subject to review and
reversal by a reappraising board which usually decides accordiug to
.evidence submittecl, and as certain kinds of goods are exclusively imported under the consignment system, the agents of the-manufacturers
stand by each other upon reappraisements, and, by means of testimony
thus obtained, in many instances, the goods escape advances and penalties originally imposed by the action of the appraisers.
An ad valorem tariff without adequate means for its enforcement and
penalties for its violation must inevitably result in demoralization to
trade and loss to the revenue. Even if there was no motive to sa;ve du-
REPORT OF THE SECRETARY OF THE TREASURY.
65
ties the competition between foreign manufacturers for the American
trade would lead to fraudulent invoicing.
In a recent case tried at New York, where extensive frauds by undervaluation had been perpetrated by a commission house, the court held
that tlae act of June 22, 1874, repealed the law which provided for the
forfeiture of the value of goods, and the case was thereupon dismissed^
although the Government was ready to prove the frauds alleged. The
tendency of other rulings and decisions is to preclude the Government
from suing for duties where fraud has been perpetrated unless such duties have been ascertained by proper liquidation, based upon appraiser's
returns.
Under these ruliogs, if frauds are successfully accomplished bj^ smuggling or undervaluation, and the facts are afterwards discovered, the
Government has no remedy, and cannot recover even the amount of
duties due. These rulings are all based upon the provisions of the act of
June 22, 1874, which, had it been enacted for the express purpose of enabling foreign manufacturers to circumvent the tariff laws, could not
have better accomplished that object.
So long as that law remains in force the efforts of customs officeris?
must necessarily be confined to the proper appraisement of foreign
merchandise as it passes through the custom-house.
Experience shows that in some cases, notwithstanding the care and
vigilance of the best of the appraising officers, and in others by reason of ignorance or weakness of examiners, many undervalued invoices
pass without detection. As an important step towards correcting undervaluations, and for the purpose of assisting appraising officers in
determining the actual foreign market value of dutiable merchandise
shipped to the United States, the Department has authorized the employment of silk experts at Lyons, France, and at Zurich and Horgen^
Switzerland, and aii embroidery expert at Saint Gall.
These experts report a steady increase in the values of invoices submitted to them for examination, and there can be little doubt that their,
employment has had the effect of checking, in a large degree, false invoicing of the kinds of goods above mentioned. But, as stated in previous reports, the only sure remedy for undervaluations is the substitution of specific for ad valorem duties.
FRAUDS IN T H E IMPORTATION OF a L A S S .
Systematic frauds upon revenue under the cover of contracts for furnishing glass for public buildings have been discovered and suppressed.
The actual losses on this account are estimated at about $80,000. A
suit is now pending in the United States District Court at New York for
the condemnation of an importation of glass which was sought to be
passed free of duty upon representations that it was to replace glass
furnished for the new post-office building at Philadelphia.
Other suits have been entered to recover the duties due the Government upon previous fraudulent importations of a like character, and
criminal prosecutions have been instituted against the guilty parties.
The method by which these frauds were accomplished was as follows:
I neluded in the iree list are articles imported for the use of the United
States. When any of the Departments or any Bureau of this Department imports an article for Government use, a request is made to t h e '
Secretary of the Treasury to authorize the collector of the port where
the article is landed to pass the same free of duty. For many years
past, and until the discovery of the frauds referred to, it was customary
5022 F
5
66
REPORT OF THE SECRETARY OF THE TREASURY.
for collectors to deliver the packages containing such merchandise with
out examination.
,
It has been the practice of officers having charge of the purchase of
materials and supplies for public buildings to invi\e bidders to state
the price of articles of foreign manufacture, including duty, and free
of duty, and contracts have been usually made at the lowest price, duty
free^ it being understood that duties were to be remitted on the imported articles. This was especially true of plate-glass used in many
of the public buildings erected during the last few years.
A New York glass-importer, knowing the fact that Government importations were passed by the custom-house without examination, became a very successful bidder for supplying glass for public buildings.
When called upon to fill his contracts he would supply the glass required from his stock on hand, and afterwards ask for a free order for
ah importation to replace it. The amount to be paid for glass furnished
by this contractor for the Philadelphia post-office building was $4,181,
free duty. The duty upon the plate glass actually furnished would
have been about $2,500. To replace the glass so furnished he imported
glass at the foreign value of $22,074.10, the duty on which was $26,280.
This is a fair illustration of the way in which the contractor was enabled to underbid all competitors of glass for Government buildings,
the contracts for which were valuable to him chiefly because of the opportunities they gave for bringing in large quantities of polished plateglass free of duty.
It is respectfully submitted that it is not a proper construction of
the tariff which gives to contractors the benefit of the clause authoriz' ing the free importation of articles for the use of the United States.
Such a construction not only gives an undue advantage to the foreign
over the home manufacturer, but it also enlarges the amount to be used
for the construction of •public buildings beyond the sum fixed by law.
In other words, it takes from the Treasury indirectly the duties upon
the imported article when the same have not been appropriated forthat
purpose by act of Congress..
I respectfully recommend, therefore, the discontinuance of the system of advertising for and receiving bids for articles and supplies to be
imported free of duty, or the purchase of articles in open market with
the understanding that the duty is to be remitted.
In conclusion, I respectfully call attention to accompanying table
marked A, which shows the business transacted in the several customs
collection districts ; also to table marked B, in which is shown the number of packages, with the invoice value and estimated duties thereon,
forwarded without appraisement, from and to the ports specified in the
act of June 10, 1880, and acts amending the same.
Yery respectfully,
L. G. MARTIN,
Supervising Special Agent.
Hon. HuaH MCCULLOCH,
^
Secretary of the Treasury.
'
APPENDIX.
TABLE A.—STATEMENT shoiving BUSINESS TBANSACTED in EACH of the SEVEBAL CUSTOMS COLLECTION DISTBICTS for the fiscal
year ended June 30, 1884.
-
V e s s e l s e n t e r e d . V e s s e l s cleared.
2?
V a l u e of e x p o r t s .
0
i
Districts.
1..
A l a s k a . (Sitka), A l a s k a . . . . . . .
Albemarle (Edenton), N. C ..
Apalachicola Fla
Aroostook (Houlton), M e
Baltimore, M d . . .
Barnstable, Mass
Bath, Me
Beaufort, N . C
B e a u f o r t , S. C
Belfast, M e
Brazos (Brownsville), T e x . . . .
Bridgeton, N. J
....
B r i s t o l a n d W a n e n , K. I
Brunswick, Ga
Buffalo C r e e k , N . Y
Burlington (Trenton), ]^. J . . .
Cape Vincent, N. Y
Champlain (Plattsburgh), N.
C h a r l e s t o n , S. C .'.."'.' .".'". *..'"
Cherrystone (Eastville), V a ..
Corpus Christi, T e x
C u y a h o g a (Cleveland), Ohio . .
Delaware (Wilmington), D e l . .
Detroit, Miah
„.
D u l u t h , Minii
D u n k i r k , N . .Y
E a s t e r n (Crisfield), M d . . . . . . .
1 a
i '1 •
24
24
82
165
59
27
18
696
1,436
23
22 " • *28'
94
127
7
71
103
81
2,618 " ' 8 0 6
15
53
i
Duties and
tonnage tax.
52
57
34
14
. 538
6,819
1,723
168
326
12
14
129
46, 435
1,894
is"
28
6
74
129
116
39
373
2,894
285
883
275
2,882
12
11, 500
1, 390
4
407
7
1,377
8
424
; 5
1,739
34
1,279
231
56
412
1,179
275
1,002
143
6,294
200
261
5
454
22
2,954
169
'
2
12,106
65
3,776
14
2,858
. 621
16
11,470
1,167
765
51
14,575
141
277
219
537
655
. 34
293
239
366
40
.^
" " 974"
12, 212
o
57
3,864
33,
2,719
624
16
"
$881 37
4 60
939 98
5, 767
17, 966
2, 306, 075
1,712
49, 396
284
874
509
77, 217
363
19, 361
96
10, 533
37
1, 691
339
21, 966, 878
1,094
6"
26,271
^0
46
71 ' " " 2 6 , ' 5 5 9
749, 326
263
45
51
44, 800
305
385
193
881
158
^ 13
332
2
2,960
166
2
6
a
81
01
96
37
66
96
83
03
72
09
35
81
41
87
79
306, 592 32'
45, 906 26
3, 864,127
25, 475
179, 623
29, 855
291, 572
1, 728
47
58
52
98
46
64
28
35
$2,140
1, 784
2,908
1, 453
7, 329
22, 380
2,391,366
54, 393
4, 059
83, 015
23, 807
12, 024
4, 516
22,109, 079
29, 690
3, 303
276
24, 201
782,185
840
49, 215
1, 982
41
55
11
31
07
98
33
53
03
56
58
32
04
59
58
64
97
92
61
19
32
40
315, 754
58, 340
- • 2, 750
3, 910 111
36, 876
"
194, 420
34, 928
330, 443
4, 303
1, 202
8, 998
67
18
96
89
88
34
68
69
85
40
81
1
Expenses.
i
0
18
131
145
711
2, 040
47
26
20
44
5
1
109
59
85
2,503 "1,623"
10
22
A g g r e g a t e receipts.
1
ie"
23
"0
•
1
Pi
«5-
P .
$14,192
3,174
2, 988
2, 229
2, 390
229, 337
9, 010
295, 049
43, 062, 048
14,584
118, 255
7, 550
8, 933
3, 333
59, 296
6, 347
1, 057, 985
4, 988
6,083
62, 528, 000 . 675, 957
49, 049
1, 094, 914
290
1, 576
8, 605
56, 285
369, 916.
186
13, 519
163, 285
5, 436
4,192
24
85
30
92
74
82
72
30
49
90
44
00
47
76
07 '
00
82
66
30
00
37
63
$6.63
9
1.77
3
5 ' 1.02»
1.53
4
.32
2
.40
7'
.12
212
11
.26
1.86
19
.10
•
8
.14
5
-.52
7
1.10
9
.03
611
1.65
33
1
.087
5.69
3
.35
9
.071
41
.22
2
.27
14
. 6
2.74
25, 554
21, 371
3, 206
148, 615
32,409
21, 806
9, 005
67, 526
6, 967
3, 703
4, 830
85
31 .
42
94
69
84
86
05
77
60^
59
26
25
' 4
104
21
19
11
64
5
3
2
'
$8,053
92, 886
$15, 077
'8,332
969,829
174,495
1, 611, 322
25, 933
95
175
1,155,509
16, 230, 892
17, 931
179,600
2, 887, 995
1, 448, 807
636, 584
531, 482
6,776,135
1,372,772
72'
1,197,182
9,635
.08
.36
1.16
038
.87
.11
.25
.20
-1.61
3 08
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T A B L E k.—STATEMENT showing BUSINESS TBANSACTED in E A C H of the SEVEBAL CUSTOMS COLLECTION DISTBICTS, #c.—Cont^d.
Value of exports.
Vessels entered. Vessels cleared.
Duties and
tonnage tax.
Districts.
Aggregate receipts.
Expenses.
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Edgartown, Mass
Erie, P a
345
Eairfield (Bridgeport), Conn..
777
Eall River, M ass
663
Eernandina, Fla
170
Erenchman'sBay (Ellsworth),
Me
7
Galveston, Tex
196
393
555
161
Genesee (Rochester),!!^. Y . . . .
19
172
Georgetown, D. C
3
50
Georgetown, S. C
143
13
Gloucester', Mass
Great Egg Harbor, N. J
Huron (Port Huron), Mich. .. 1,216
4,439
Kennebunk, Me
Key West, Fla
"259
200
Little Egg Harbor, N". J
Machias, Me
7 ""20
Marblehead, Mass
23
4
Miami (Toledo), Ohio
190
1,502
Michigan (Grand HaVen), ,
Mich
10, 826
Middletown, Conn
308
Milwaukee, Wis
27 9,539
Minnesota (Saint Vincent),
Minn
11
Mobile, Ala
203
Montana (Fort Benton), Mont.
Nantucket, Mass
Natchez, Miss
Newark, N. J
69
New Bedford, Mass
52
149
Newburyport, Mass
37
328
New Haven, C^onn
69
900
New London, Conn
16
64
Newport, R. I
10
385
New York (NewYork), N. Y. 6,126
1, 950
JsTew York (Albany), N. Y . . . .
12
17
13
8
42
622
175
4
205
543
1
11
106
1
383
72
15
"i,'i88
'4,* 567
" 256
181
183
23
218
4
3
1,491
90
10, 939
12
9," 763
23
11
205
53
53
104
32
5
9
5,531
39
567
,128
186
1
, 109
12, 284
3
2,905
n
23
90
63
336
761
2,407
100
6
4
11
263
732
88
459
3,565
1
00
80
128
45
591
89
16
303, 355
345
25
38
200
126
a. 16
$573 71
10, 535 92
1, 495 22
4, 657 79
2,185 80
$1, 631 34
13, 785 51
4, 844 36
10, 214 74
3,467 69
318
251
27
160
30
592
172
546
35
138
50
399
77
• 74
279 26
173, 028 70
241,694 57
21, 231 48
300 26
3, 853 31
1, 302 26
1, 584 80
23, 288 99
2, 894 85
184, 954 49
243,709 01
25,119 51
1, 348 90
9, 024 40
1, 749 90
100, 049 58
201 20
332, 052 20
743 74
4, 339 65
2, 078 08
27,161 90
432
179
456
2, 392 67
59, 447 33
175, 182 35
24,113 92
62, 576 16
193, 073 40
52
200
73, 321 78
72, 842 21
44 96
89,794 71
81, 594 67
69 26
357 68
253 64
6, 574 22
29, 409 70
4; 899 56
255, 797 18
22, 450 28
3, 383 85
135, 072, 796 00
102, 959 94
24
7
162
.127
61
377
260
203
4,219
382
64, 285 86
"32i,"i2i'22'
4,070 55
26, 740 83
3, 542 34
248, 738 95
16, 029 74
1,189 19
134, 275, 259 07
92, 334 81
$2,542
852
51, 646
$192, 415
1, 305, 823
1,144
20, 433, 878
703 592
1,960
80, 032
12, 000,128
411,474
70,197
1, 807,175
58, 233
5, 210, 853
7,501
2, 680, 524
36, 606
^24,973
11, 538
267
116, 871
4,611
9,865,363
319, 690, 272
$3, 962 25
4,202 63
3, 059 82
4, 817 59
5,143 28
$2.42
.30
.63
.47
L48
5, 367 67
55, 352 22
33, 448 32
5, 946 43
1, 949 33
14, 294 51
- 2, 995 85
48, 010 00
720 52
27, 274 35
1, 683 16
4,707 26
2,698 67
3, 349 50
1.85
.29
.13
.23
L44
L58
1.71
.47
3.58
.082
2.2s
L08
L29
.12
9, 803 71
5, 722 49
11, 948 32
18
4
11
.40
.091
.061
34,818 95
24, 631 74
1, 923 35
803 34
' 516 23
3, 526 22
6, 757 28
3, Oil 84
17,723 61
7, 010 91
4, 690 04
, 800,128 88
12,885 69
23
21
2
2
1
3
6
4
16
5
7
1,462
8
.38
.30
27.76
2.24
2.03
.53
.22
.61
.069
.31
L38
.02
.12
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- N e w York (Patchogue), N. Y .
New York (Port tfeffersOn),
N.Y..
Niagara (Suspension Bridge),
N.Y......
Norfolk and Portsmouth, Va
New Orleans (New Orleans,
La)...
New Orleans (Burlington,
Iowa)
- New Orleans (Cairo, HI)
New Orleans (Cincinnati,
Ohio)
.--..
New Orleans (Dubuque, Iowa)
New Orleans (Evansville, ind.)
New Orleans (Galena, 111.) . . .
New Orleans (La Crosse, Wis.)
New Orleans (Louisville, Ky.)
New Orleans ( M e m p h i s ,
Tenn.)
New Orleans ( N a s h v i l l e ,
Tenn.)
New Orleans (Oraaha, Nebr.).
New Orleans (Pittsburgh, Pa.)
New Orleans (Saint Louis,
Mo.)
New Orleans (Wheeling, W.
Va.)
:
Oregon (Astoria), Oreg
Oswegatchie '(Ogdensburg),
N.Y
Oswego, N. Y
Pamlico (New Berne), N. C ..
Paso del Norte, T e x . . . . . .
Passamaquoddy, Me ...
Pearl River (Shieldsborough),
Miss
Pensacola, Fla
Perth Amboy, N . JPetersburg, v a
Philadelphia, Pa
Plymouth, Mass
Portland and Falmouth, M e . .
Portsmouth, N. H
Providence, R. I
Puget Sound, Wash. Ter
Richmond, Va
Saco, Me
. Sag Harbor,,N; Y . . . .^
Salem, Mass
Saluria (Indianola), Tex
San Diego, Cal
357
599
1,263
800
316
357
103
175
1,139 36
435 25
117
1,133 96
"434 60
595
932
7,283
50
14
471
373
8,024
600
55
41
2,403
1
19
255, 446 49
33, 301 35
2, 076, 293 20
5 80
815, 966 85
63 99
53, 633 45
37
40 70
113, 723 56
77'
913
150
423
15
1,026
24
320
31
67
700
32
14
117
"'30
550
307
338
891
1,955
10
28
617
27
157
310
325
716
' 3
474
4
714
199
991
4
1
4
89
75
157
476
48
1
46
129
54
164
869
27
510
41
49
729
79
13
1,301
108
1
555
368
360
104
146
512
1
1
3,171
70, 733
12, 353, 592
2,126, 646 64
222, 700
82, 342, 324
.26
.85
833,022 51
2, 073 96
58 338 38
1, 518 82
2, 377 83
120, 325 89
35, 479 72
405 05
1, 405 25
935 98
1, 418 30
12, 335 69
.042
.19
.024
.61
.59
.10
11,779 62
7
20
378
50
10
238
5
.18
242
81
1, 344 87
66,160 38
10,812 50
70, 337 87
35
108
141
241, 450 73
630, 074 34
1, 540 28
51, 336 79
48, 313 47
251, 574 02
640, 087 25
4, 084 07
51,661 01
56, 508 61
14,473 70
59, 409 55
27, 903 48
18,714 70
66, 748 37
34, 919 36
554 54
12. 978, 111 57
23,969 13
663, 564 41
53, 053 71
202, 227 57
67,-245 80
11, 919 83
297 92
1,562 40
17, 549 93
15, 490 72
12, 664 28
18
119
16
"2i,"869
74
3,827
69
875
238
37
14
135
425
136
825
170
181
447
13
1,181
25
605
106
173
198
121
29
254
49
35
.11
236,156 58
571 45
1, 541 49
546
5,637
2,479
16
1,472
1, 304
.18
52,122 12
17, 678 31
2,169 35
l; 811 23
166
24
119
30
54
89
3, 310 98
..28-
1, 862 55
6,201 82
476, 765 33
4, 542 32
7, 078 89
, 489,074 36
633 38
1, 596 45
18, 770 85
.13
.22
.038
1, 530, 902 52
1, 549, 400 58
44, 596 46
4, 892 35
59
275, 587 86
44, 944 16
.38
12, 899,174 30
23, 709 23
637,092 58
50, 751 93
196,339 19
47, 514 44
8, 583 69
16, 314 06
13, 808 46
12, 071 48
2, 519, 965
374
4,970
6,154
3, 502, 319
1, 511,137
16, 966
27,660
574, 385
•
28, 212
6,130, 892
76
200
450, 904
79, 512
3, 560
2,
'
36,
7,
706,981
580, 688
80,698
18,997
766,461
39
014, 309
25, 571
1, 389, 288
1, 712, 546
883, 473
124,397
.028
1, 496 72
12, 263 40
4
11
.13
.17
26, 976 44
33, 574 77
5, 643 85
26, 497 25
20, 322 04
23
27
10
17
-19
.10
.052
1.38
.51
.35
7, 854 74
19, 742 06
10, 004 36
3, 653 29
431, 401 64
3,046 46
79, 871 11
10, 739 78
29, 326 08
26,108 51
10,-472 79
921 50
X 3 4 8 16
8, 544 90
20, 073 19
7, 007 33
7
20,
8
5
284
4
52
9
20
17
12
2
3
8
15
4
.41
.29
.28
6.58
.033
.12
.12
.20
.14
.38
.87
3.09
.86
.48
L29
.55
.
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TABLE A.—STATEMENT showing BUSINESS TBANSACTED in EACH ofthe SIJVEBAL c m^TOMS COLLECTION DISTBICTS #c.~ContM.
Vessels entered. Vessels cleared.
.
CD
_ V a l u e of e x p o r t s .
IS ftt
a
-i
Districts.
S a n d u s k y Ohio
San F r a n c i s c o C a l
Savannah Ga
. . ......
Saint Auffuatine F l a
Saint J o h n ' s (Jacksonville),
Fla
Saint M a r k ' s (Cedar Keys),
Fla
S o u t h e r n O r e g a n (Coos B a y ) ,
Oreg
Stonington, Conn. .
Superior (Marquette), Mich . .
Tannahannock Va
Teche (Brashear) L a
V e r m o n t (Burlington), V t
AValdoborough M e
AViscasset M e
W i l m i n g t o n , N . (3 . . . :
Willamette (Portland), Oreg .
York Me
Yorktown V a
Atlanta, G a
Chattanooga Tenn
D e n v e r , Colo . . .
Humboldt (Eureka), Cal
Indianapolis, I n d
K a n s a s City, M o
Saint Joseph, Mo
Yaquina, Cal
•
1
2
.
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>
bD
I
Duties and
tonnage tax.
a
6
1. 1
1,766
>^308
383
16
347
825
282
1
1,737
461
359
4
602
23, 973
216
113
1,101
103
$4, 085 63
6, 985, 369 66
82,138 13
$8, 886 46
7, 096, 259 85
98, 340 28
637 30
"$2,'274,'815'
25
313
32
271
40
85
820 88
5,561 97
301
27
3
69
4
12
6
66
3
11
69
3
3,720 63
158 40
5, 734 11
571 29
1
344
1
5
560
339
'"'i46'
5
772
9
790
10
928
305
1
176
43
71
15
8
130
191
837
333
8
228
92
1
15
21
79
138
38
323
180
163
20, 660
338
57
107
936
3
45
7
678
8
446
15
107
140
227
140
45
33
535
175
105
141
23
306
50
26
50
96
88
23
647 64
2,430 19
24,555 91
1, 557 24
3, 292 24
3, 485 00
764, 010 14
7,113 91
1,197 13
51, 792 27
402, 290 56
55 09
28, 544 78
130 05
1, 201 45
34, 315 76
4, 904 85
81,561 35
51, 755 32
11, 768 69
26, 572 07
194, 868,151 34
196, 935, 360 80
267 60
14, 355 89
90 79
730,'975'3i'
1,458 26
46,652'i9"
389,245 17
18, 359 75
127 50
21
26
29
37
.......
ii
21
116
7
309
97
27
18
72, 382
540, 999
31, 434
31
28
72,621
32,138
Expenses. -
1
b£
331
836
265
32,195
22'
12
13
Amount of expenses reported by collectors, as above
Miscellaneous expenses not included in the above
Total expenses of collecting revenue for year ended J u n e 30, 1884
A g g r e g a t e receipts.
34, 257
2, 898
81, 271
51,162
11,494
• 26, 354
4
.64
14,227
, 29, 321
5, 028 87
1, 913 11
5
3
.87
3 34
1, 24.5, 012
4,400
14, 277
3, 843, 311
4, 383,103
3, 370, 099
726, 875,828
'.
.^
"
0
$0.58
058
.23
3 59
3, 565 16
224, 355
24, 838, 997
o
35, 220
7,996
3,918
rt
B
9
231
19
6
23, 727
7, 575
li
1
63
68
29
00
$126,548
36,193, 969"
19,944, 549
$5,184
418,100
23,184
2, 288
0a
3, 294 50
2,127 97
10, 731 61
1, 275 23
5, 727 67
763 70
73, 941 04
8, 789 22
3, 687 76
16, 240 42
31, 624 60
281 55
13, 606 88
1, 009 30
777 26
1, 826 95
4, 237 01
6.723 48
3.724 70
2, 688 66
2, 334 37
3
4
14
2
7
3
64
7
4
15
26
1
12
2
1
1
2
3
2
2
2
6, 586, 963 18
4,477
$6, 586,963 18
189,005 23
6, 775,968 41
O
5 08
87
.43
81
1 73
21
096
1 23
3 08
31
078
5 11
d7
7 76
64
053
.86
.082
071
.22
.087
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AGGBEGATE B E C E I P T S ahd E X P E N S E S of COLLECTION for the fiscal years 1877, 1878, 1879, 1880, 1881, 1882, 1883, and 1884.
•
Receipts.
Expenses.
Cost
per cent.
Receipts.
.
Expenses.
Cost
per cent.
• Pi
3.20
2.94
3.07
3.44
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NOTE.—The accounts of receipts and expenditures published by the Register will vary in some cases from the figures above given, for the reason that his statement is
made up from warrants issued during the fiscal year, regardless of balances in the hands o:^ ofiicers at the beginning and end of the year. If the accounts of each collector
were closed and balances settled at the end of the fiscal year, the two statements would agree.
O
1877
1878
1879
1880
$132, 634, 029 53
132, 024, 409 16
138, 976, 613 79
188,508,690 34
$6, 501, 037 57
5, 826, 974 32
5,485, 779 03
5, 995, 878 06
4.90
4.41
3.94
3.18
1881
1882..
1883
'.
1884
. . .
.
$200, 079,150 98
$6, 419, 345 20
222, .559,104 83
6, 549, 595 07
216, 962, 210 35
6, 667,825 46
196, 935, 360 80 ' 6, 775, 968 41
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72
REPORT OF THE SECRETARY OF THE TREASURY.
TABLE B . — M E B C H A N D I S E ' T B A N S B O B T E D WITHOUT A P P B I S E M E N T during
the fiscal year ended June 30, 1884, under act June 10, 1880.
P o r t of d e s t i n a t i o n .
Baltimore, M d
Buffalo, N . Y
Boston, M a s s . .
Bath, Me
C h i c a g o , 111...
C l e v e l a n d , Ohio . . .
Cincinnati, O h i o . . .
Detroit, Mich
D e n v e r , Colo
Georgetown, D. C .
Galveston, Tex
Hartford, Conn
Indianapolis, I n d . .
K a n s a s City, M o . .
Louisville, K y
Middletown, Conn
Mobile, A l a
Memphis, Tenn ...
Milwaukee, W i s ..
N e w Haven, Conn
N e w Orleans, L a . .
New York, N. Y ..
Portsmouth, N. H .
Portland, Me
P r o v i d e n c e , R. I . . .
Portland, Oreg
Philadelphia, P a ..
Port Huron, Mich.
Pittsburgh, P a
Rochester, N. Y . . .
Richmond, V a
Saint Joseph, M o . .
Saint Paul, M i n n . .
San F r a n c i s c o , Cal
Saint Louis, Mo . . .
Savannah, G a . . i . .
Toledo, Ohio
Wilmington, D e l . .
Total
^
Packages.
Invoice
value.
3, 632
32, 460
27, 727
1,148
351, 982
6,657
21, 475
7,458
1,001
494
4,563
2,391
22, 738
1,122
4,578
25
87
192
16, 831
392
304
80,174
21
3,000
8,807
" 41
34, 695
52, 796
*462,481
6,010
4
756
8,688
38,178
219, 255
354
226
519
$339, 595
512, 645
2, 213, 087
93,181
8, 950, 044
378, 434
1, 810, 826
339, 045
49,440
40, 299
30, 519
155,078
196, 019
88,549
257,151
202
4,623
8,744
341, 408
8, 015'
32, 210
1, 287, 740
536
7,342
340, 574
8,564
3,106, 811
478, 504
881,762
351, 576
857
21, 630
201, 022
2, 684, 549
2, 600, 248
23, 920
24, 263
27, 555
1, 423, 262
27. 896, 567
Estimated
duty.
$219, 235 93
241, 077 48
999, 373 50
. 40,221 87
3,931, 027 24
193, 025 83
875, 510 91
145, 952 06
31, 852 36
20, 305 02
12, 578 1 8
54, 675 03
89, 823 66
47, 993-75
136, 901 62
68 90
426 55
453 77
147, 521 39
4, 982 20
24, 995 95
170, 027 09
123 30
3, 117 70
153, 770 35
7, 495 10
1,330, 781 47
22, 478 60
435, 326 02
174, 816 72
327 00
11, 813 60
55, 771 49
1, 605,493 65
1, 088,811 84
15, 358 95
10, 166 19
15, 197 55
12, 323, 879 82
* Principally bundles steel-wire rods.
r The merchandise above referred to was forwarded from the following-named ports
of first arrival:
P o r t s of i m p o r t a t i o n .
Boston, M a s s . . . . . .
Baltimore, Md
€hicag:o. I l l
Detroit, Mich
Mobile, A l a
N e w York, N . Y . . ,
N e w Orleans, L a ..
Fhiladelphia, P a . .
F o r t Huron, Mich
Fortland, Me
,
S a n F r a n c i s c o , Cal
Total
,
Packages. Invoice value.
72, 948
11, 683
2,629
4,118
35
699, 968
209, 837
22, 559
10, 749
144, 646
244, 090
$721,
317,
18,
48,
410
989
974
504
688
19, 083, 950
1, 650, 914
1, 823; 461
89, 781
659, 341
3, 481, 555
1, 423, 262
27, 896, 567
Estimated
duty.
$320,486
158, 920
4, 589
17, 262
1, 878
9, 661, 757
734, 813
812,420
25, 484
202, 034
384, 231
91
52
19
73
60
98
39
18
36
38
58
12, 323, 879 82
REPOET OF THE SECRETARY OF THE TREASURY.
73
The following comparative statement shows the increase in the quantity, value, and
©stimated duties thereon of unappraised merchandise transported from ports of first
arrival to ports of destination during the years specified :
Year.
1879
1880
1881
1882
1883
1884
Packages. Invoicevalue.
.
..
:
:
249, 811
329,886
353,901
539,183
1,120,619
1,423,262
$8, 745, 663
13.125.7.58
14, 519, 474
21, 440, 540
26, 283, 922
27, 896, 567
Estimated
duty.
$4 284,880
6,169,710
6, 604, 447
10,186,940
12, 225, 630
12, 323, 879
54
85
26
14
46
82
REPORT OF COMMISSIONER OF INTERNAL REVENUE.
75
REPORT
OF
• .
.
•
THE COMMISSIONER OF INTERNAL REVENUE.
T R E A S U R Y DEPARTMENTJ
, O F F I C E OF INTERNAL R E V E N U E ,
Washington^ Octoher 30,1884.
S I R : I have tlie honor to submit the annual report of the Commissioner of Internal Revenue for the fiscal year ended June 30, 1884.
^ In order that you may have a clear view of the condition of the public business intrusted to my charge, I also include certain additional information relative to the work of the Bureau during the months of
July, August, and September of the present year.
.You will also find in the appendix to the bound volume of this report
carefully prepared tabular statements as follows:
Table A, showing the receipts from each specific source of revenue,
and the amounts refunded in each collection district, State, and Territory of the United States, for the fiscal year ended June 30, 1884.
Table B, showing the number and value of internal-revenue stamps
ordered from the office of the Commissioner; the receipts from the sale
of stamps and the commissions allowed thereon; also the number and
value of stamps for special taxes, tobacco, cigars, cigarettes, snufi*, distilled spirits, and fermented liquors, issued monthly to collectors during
the fiscal year ended June 30, 1884.
Table C, showing the percentages of receipts from the several general
sources of revenue in each State and Territory of the United States to
the aggregate receipts from the same sources, by fiscal years, from July
, 1, 1863, to June 30, 1884.
Table D, showing the aggregate receipts from all sources in each collection district. State, and Territory of the United States, by fiscal years,
from September 1, 1862, to June 30, 1884.
Table E, showing the receipts in the United States from each'specific
source of revenue, by fiscal years, from September 1, 1862, to June 30,
1884.
~
o
Table F, showing the ratio of receipts in the United States from specific sources of reveuue to the aggregate receipts from all sources, by
fiscal years, from July 1, 1863, to June 30, 1884.
Table G-, showing the returns of distilled spirits, fermented liquors,'
manufactured tobacco, snufi", cigars, and cigarettes, under the several
^acts of legislation and by fiscal years, from September 1, 1862, to June
30,1884.
77
78
REPORT ON T H E
FINANCES.
Table H, showing the receipts from special taxes in each State, and
Territory for the special-tax year ended April 30, 1884.
Table I, Abstract of reports of district attorneys concerning suits and
prosecutions underthe internal-revenue laws during the fiscal year ended
June 30, 1884.
Table K. Abstract of seizures of property for violation of internalrevenue laws during the fiscal year ended June 30, 1884, /
P R E S E N T NUMBER OF COLLECTION DISTRICTS.
After fully carrying out the scheme of consolidation of collection districts contemplated by the executive order of the President, dated June
25, 1883, as subsequently modified, the number of internal-revenue districts is now eighty-five.
ESTIMATE OF COLLECTIONS FOR P R E S E N T ' FISCAL YEAR.
It is estimated that the sum of $115,000,000 will be collected during
the present fiscal year from the various sources of internal revenue.
As anticipated in my last report the collections for the fiscal year
1884, reached over one hundred and twenty millions (viz, $121,590,039.83).
Payment of the tax on the large production of spirits in 1881 was a
material factor in this result. The falling ofi' anticipated during the
present year will follow from the diminished quantity of bourbon and
rye whiskies produced in 1882, on which the tax will mature duringthe
current fiscal year. Another cause contributing to the reduction of
receipts will be the largely increased exportation abroad of spirits in
bond, on which, for various reasons, the owners cannot pay the tax.
Something like 10,000,000 gallons have already been forced abroad
during the current calendar year because of (stagnation in trade and the
refusal of Congress to extend the bonded period.
COMPARATIVE R E C E I P T S FOR THE LAST TWO FISCAL YEARS.
The total receipts from all sources of internal revenue taxation for
the fiscal year ended June 30. 1884, were $121,590,039.83 as compared
with $144,553,344.86 for the year 1883, $146,523,273.72 for the year 1882,
and $135,229,912.30 for the year 1881.
The following statements will exhibit detailed information of the
amount of internal revenue collected during the past year, and also for.
the first three months of the present fiscal year, of the sources from
whence the revenue is derived, of the States and districts in which the
collections during the past year were made, the cost of collections, &Co
79
COMMISSIONER OF INTERNAL REVENUE.
COMPABATIVE STATEMENT showing the BECEIPTS from the SEVEBAL OBJECTS of INTEBNAL TAXATION in the UNITED STATES during the fiscal
years ended^ June 30, 1883 and 1884.
Amount of tax paid during
fiscal year's—
Increase.
Objects of taxation.
. 1883.
Decrease.
1884.
SPIRITS.
Spirits distilled from fruit
Spirits distilled from grain and otlier
materials"'
Rectifiers (special tax) .
Eetail liquor-dealers (specialJtax)
Wholesale liquor-dealers (special tax). .
Manufacturers of stills (special tax)
Stills or worms manufactured (special
tax)
Stamps for distilled spirits intended for
export
Interest on tax upon spirits
Total
:
$104, 599 40
$1,127, 950 25
$1, 023, 350 85
67, 957,906 48
189, 800 12
4, 624, 587 77
455, 915 51
1,160 43
70, 631, 860 48 $2, 673, 954 00
183, 872 92
4, 597,139 33
448, 840 51
81 24
1, 241 67
^ 4, 020 00
7, 434 00
64
\
5,927 20
27, 448 44
7, 075 00
i
1,100 00
2, 920 00
16,159 50
' ^ 8,725 50„
74,368,775 20
76,905.385 26 / 2, 536, 610 06
16,895,215 15
929, 974 73
736, 022 82
22,136,402 53
10, 368, 805 27
454. 409 01
448, 211 58
13, 488, 047 41
876 00
54, 535 12
48, 595 82
1, 233, 812 93
5,697 88
96, 899 00
14, 813 63
1,136,786 20
5,117 49
97, 962 19
14, 465 01
42,104, 249 79
26,062,399 98
64
TOBACCO.
Cigars and clieroots . . . ,
Cigarettes
Snuff
Tobacco, chewing and smoking
Stamps for tobacco, snuff, and cigars
intended for export (u)
Dealers in leaf tobacco (special tax)
Dealers in manufactured tobacco (special tax)
Manufacturers of tobacco (special tax) .
Manufacturers of cigars (special t a x ) . . .
Peddlers of tobacco (special tax)
Total
'
^
6,526,409 88
475,565 72
287, 811 24
8, 648, 355 12
876 00
5, 939 30
97, 026 73
580 39
1,063 19
348 62
16,041,849 81
FERMENTED LIQUORS.
Ale, beer, lager-beer, and porter
Brewers (special tax)
Dealers in malt liquors (special tax)
Total
16, 426, 050 11 • 17, 573,722 88
187, 988 82
184; 885 49
289, 680 21
323, 242 41
1,147, 672 77
3,103 ,33
33, 562 20
16, 900, 615 81
18, 084, 954 11
1,184,338 30
10, 873, 900 49
305, 803 57
248,156 36
289,144 12
10, 625, 744 13
16, 659 45
11,179, 704 06
537, 300 48
10, 642, 403 58
144, 553, 344 86 121, 590, 039 83
22, 963, 305 03
MISCELLANEOUS.
Collections not otherwise provided for..
Penalties .
.
.
.
.
Total
Affffreeate receints
:.
a Tax repealed August 8,1882.
80
REPORT
ON T H E
FINANCES
WITHDRAWALS FOR CONSUMPTION D U R I N G LAST TWO FISCAL Y E A R S .
The quantities of distilled spirits, fermented liquors, manufactured
tobacco, snuff, cigars, and cigarettes on which tax„was paid during the
same periods are as follows:
.
Fiscal years ended
J u n e 30—
Increase.
Products taxed.
1883.
Decrease.
1884.
Number of gallons of spirits distilled from
1,137, 056
fruit
1, 253,278
Number of gallons of spirits distilled from
78, 479, 845
75, 508, 785
grain, molasses, and other materials.
3, 227, 888, 992 3, 455, 619, 017
Number of cigars — . . .
640, 021, 653 908; 090, 723
Number of cigarettes
5, 602, 645
5, 284, 372
Number of pounds of snuff
'.
165, 077,186 168, 593, 419
Number of pounds of tobiacco
18, 998, 619
17, 757, 892
Number of barrels of fermented liquors
116, 222
2, 971, 060
227, 730, 025
268, 069, 070
318, 273
3,516,233
1, 240, 727
*
NOTE.—Many detailed t a b u l a r statements, are omitted for w a n t of space, b u t t h e y
may be found in t h e bound volumes of t h e Commissioner's report.
STATEMENT SHOWING the AGGBEGATE B E C E I P T S from I N T E B N A L BEVE N U E by STATES and T E B B I T O B I E S during thefisoal year ended June 30, 1884.
Aggregate
receipts.
States and Territories.
A rkansas'
California
..
.........
Connecticut
Dakota f 6)
Florida
(reorgia
Idaho (c)
Dlinois
Indiana
Iowa
Kansas
.
Kentucky
Louisiana
Maine
]Marvland
Massachusetts
Michigan
'
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada {d)
NewHampshire
. --- . . .
....
^ /.
.'..
'...
*
$85, 398 33
2, 714 91
91, 009 87
3, 384, 765 95
195, 999 50
428, 370 93
9, 664 22
210, 327 24
178, 562 09
379,741 84
2, 634 11
23, 520, 484 80
5,618,512.22
2, 757, 416 53
167, 351 37
18,583,172 16
560,184 89
56, 599 19
3,146, 491 15
2, 396, 590 05
1, 419, 380 .97
493, 982 05
50, 449 53
6, 473, 806 51
125, 369 68
1, 515, 816 43
, 3, 827 20
390,136 72
States and Territories.
New Mexico
New York
.
.
North Carolina
Ohio
Oregon
Pennsylvania . . . . . . . . . . . . . . .
Rhode' Island
South Carolina
Tennessee
Texas
...i
Utah(g)
Vermont
Virginia
Washington If)
.
West Virginia
,.
W^isconsin
W^vomincT (Q)
Total by States and Territories
Back taxes under repealed laws
that cannot be apportioned
among the several States and
Territories
Aggregate receipts
(a) Consolidated with New Mexico, September 5,1883.
(b) Consolidated with Nebraska, August 20, 1883.
(c) Consolidated with Montana, August 20, 1883.
(d) Consolidated with the fourth district of California, October 1,1883.
{e) Consolidated with Montana, August 20, 1883.
(/) Consolidated with Oregon, September 1, 1883.
Ig) Consolidated with Colorado, Angust 15, 1883.
Aggregate
receipts.
$3, 477, 222 72
69,139 57
13, 760, 384 10
1, 760, 966 74
13, 520, 264 56
128, 275 08
7,888,700 02
130,468 11
93, 896 95
1, 249, 975 96
210,149 02
4, 560 49
30 904 88
3, 232, 726 10
6, 938 73
560. 328 28
2, 993, 755 62
1, 202 68
121,368,620 05
221,419 78
121, 590, 039 83
COMMISSIONER
OF INTERNAL
81
REVENUE.
R E C E I P T S FOR THE F I R S T T H R E E MONTHS OF PRESENT FISCAL YEAR.
The following table shows the receipts from the several objects of
taxation for the first quarter of the fiscal years 1884 and 1885. A comparison of the receipts for the two periods is also given:
/ .
A r a o u n t of t a x p g i d d u r i n g I i r s t
t h r e e m o n t h s of fiscal y e a r s —
O b j e c t s of t a x a t i o n .
Increase.
1884.
Decrease,
1885.
• SPIRITS.
S p i r i t s d i s t i l l e d frora a p p l e s , p e a c b e s , or
grapes
'. .
S p i r i t s d i s t i l l e d from m a t e r i a l s o t h e r t h a n
a p p l e s , p e a c h e s , or g r a p e s
W^inp m a d e iri i m i t a t i o n of chamnasfne (fee
Hfttitifiera ^snecial t a x )
'
D e a l e r s , r e t a i l l i q u o r (special t a x )
D e a l e r s , w h o l e s a l e l i q u o r (special t a x )
M a n u f a c t u r e r s of stills, a n d stills a n d
w o r m s m a n u f a c t u r e d (special t a x )
.....
S t a m p s for d i s t i l l e d s p i r i t s i n t e n d e d f o r e x port
.
...
--•
Total
$202, 617 58
$194, 479 32
$8,138 26
17, 255, 430 88
15, 93P, 331 60
1. 319, 099 28
6. 989 57
281, 034 67
24, 481 85
6, 017 35
275, 519 28
15, 404 20
972 22
5, .^15 39
9,077 65
1, 325 83
1, 064 17
1,274 60
6, 364 50
17, 773,154 98
10, 435,180 42
TOBACCO.
T o b a c c o , i n a n u f a c t u r e d , of all d e s c r i p t i o n s .
D e a l e r s in leaf t o b a c c o , n o t o v e r 25,000
D e a l e r s in leaf t o b a c c o (special t a x )
B e t a i l d e a l e r s in leaf t o b a c c o (special t a x ) .
D e a l e r s i n m a n u f a c t u r e d t o b a c c o (special
tax)
M a n u f a c t u r e r s of t o b a c c o (special t a x )
P e d d l e r s of tobacco ^aoecial t a x )
.
1,337,974 56
/
Cisrars a n d c h e r o o t s
.
Cisrarettes
M a n u f a c t u r e r s of c i g a r s (special t a x )
Total
261 66
$5, 089 90
.
2,740,238
110, 328
3,833
111,008
3, 402,147
21
21
72
31
05
2, 785, 639
130,165
4,816
128,255
3, 524, 656
06
65
31
42
34
45, 400 85
19, 837 44
982 59
17, 247 11
122, 509 29
497 65
1, 821 17
41 67
427 92
1,473 18
85, 699 40
204 00
1,441 55
91,407 71
252 00
1, 398 00
5, 708 31
48 00
6, 457, 260 94
6, 668, 491 59
211, 230 65
5, 216, 935 03
3, 438 38
34, 232 17
5,464,914 60
4, 289 61
30, 715 27'
247, 979 57
851 23
5, 254, 605 58
5, 499, 919 48
245, 313 90
\
69 73
347 99
41 67
43 55
FERMENTED LIQUORS.
F e r m e n t e d l i q u o r s , t a x o f $1 p e r b a r r e l o n . .
B r e w e r s (special t a x )
D e a l e r s i n m a l t l i q u o r s (special t a x ) . . :
Total
"'"'3,'5i6'90
MISCELLANEOUS.
68, 580 53
Collections n o t o t h e r w i s e h e r e i n p r o v i d e d
for
Total
Acfirreirate r e c e i p t s
5022 F-
118, 814 47
.
39, 039 74
29, 540 79
2, 665 60
116,148 87
187, 395 00
41, 705 34
145,689 66
29,672,416 50
28, 645, 296 83
1, 027,119 67
82
REPORT ON T H E
FINANCES.
COST OF COLLECTION.
The cost of collection for the past fiscal year, distributed among the
different iteins of appropriation, was approximately as follows:
For salaries and expeuses of collectors, including pay of deputy collectors, clerks, & c .
.... .-..:
$1,854,982 10
For salaries and expeuses of revenue agents, surs^eyors of distilleries,
gangers, storekeepers, and miscellaneous expenses
*2, 438, 000 00
For stamps, paper, and dies
454, 311 69
For expeuses of detecting aud punishing violations of internal-revenue
laws
56,736 57
For salaries of officers, clerks, aud employes in the office of Commissioner of Internal Revenue
296,421.48
Total......
5,100,451 84
As compared with a total cost of collection for the year 1883 of
$5,105,957.09.
The total expenses (including the expenses of this office) will be found,
on final adjustment, to be a little less than 44- per cent, of the amount
collected. Tbe diminution of gross receipts could not proportionately
affect the cost of collection, as nearly the same force had to be retained.
Owing to the increased number of distilleries in operation during the
past year and the largely increased amoiliit of spirits withdrawn from
warehouse upon payment of tax and for export, all of which required
to be gauged, the appropriation for payment of salaries of storekeepers
and for fees of gaugers was insufficient, and early in May this office estimated that $150,000 more would be needed for this purpose to meet
actual expenses accruing during the fiscal year.
This estimate was based upon the records of this office as to the number of these officers on duty and a careful comparison with expenses
of previous months, aud an appropriation of the above-named sum was
asked for.
In the act of July 7, 1881, making appropriation for deficiencies,
$80,000 only was appropriated for the above purpose, which was so
much less than what was actually needed that most of these officers
could be paid only up to the middle of June.
Accounts from over 1,100 of these officers for the last half of the month
of June, 1881, are now on file unpaid, amounting to $51,600, and it is known
that there are some others yet to be filed, so that at least $58,000 will
need to be appropriated for this deficiency, and as so many persons are
a-ff'ected who are in need of this mouey justly earned, I would ask that
the matter be presented to Congress for appropriation at the earliest
practicable moment.
GENERAL CONDITION OF THE SERVICE.
It gives me pleasure to report that the general condition of the service is good, and I am very grateful to the officers of internal revenue
throughout the country for their zeal and efficiency.
.
MISCELLANEOUS EXPENSES.
The act of Oongress appro veil August 7, 1882, making provision for
sundry civil expenses for the year ending June 30, 1883, required the
* This item inclades |58,000 for accounts of storekeepers and gaugers for last half of
June, 1884, t h a t were not paid owing to the appropriation being exhausted, and for
which a deficiency appropriation will be needed.
COMMISSIONER OF INTERNAL REVENUE.
83
Commissioner of Internal Re venue,to make a detailed statement of all
miscellaneous expenditures in the Bureau of Internal Eevenue, ibr which
appropriation was made in that act. In accordance with the aforesaid
requirement, I subinit the following detailed stiitement of miscelianeous
expenses incurred: ^
Express charges ou public money
Telegraphing on public bnsiness
<•
Locks for distilleries
'..
Hydrometers for use iu ganging spirits
Gauging rods and saccharometers
,---•'•,-<Doin scales for collectors ..'
,,
Interual Revenue Record for interual revenue officers
.Stationery for internal revenue officers
Compeusation of United States attorneys in interual revenne cases, allowed
under sections 827 aud 838 Revised Statutes
Federal Reporter
.•
,
*.
,
Traveling expenses of clerks, &c., under special orders of the DepartmentExpenses of seizures and sales by collectors
Rent of offices leased by the Secretary of the Treasury fo.r internal revenue
officers second district of New -l^oik
Expenses of National Ae,ademy of Sciences investigating nature and properties of glucose
Total..
:....
•
| 4 , 236 36
1,022 22
4,707 45
7, 372^ 51
'398 25
75 95
2, 454 37
16,261 18
3, 445
10
135
730
00
00
25
57 '
5', 000 00
1,433 78
47,282 89
REVENUE AGENTS' DIVISION.
The following statement shows the salaries and expenses of revenue
a.gents, expenditures from the appropriation for the discovery of violations of internal-revenue laws, illicit stills seized, persons arrested for
illicit distilling, casualties to officers and employes in the internal-revenue service, and statement of ordnance and ordnance'stores issued to
collectors; also a brief statement of work performed by revenue agents.
Thirty-five revenue agents have been einployed during, the last fiscal
year—one as chief of division in this office, four employedin examining'
-collectors' accounts, and ten-employed in assisting agents in charge of
divisions.
By the act of Congress making appropriations for the legislative,
' executive, and judicial expenses of the Government for the fiscal year
ending June 30, 1885, approved July 7,1881, the number of agents was
reduced from thirty-five to twenty.
One thousand and fortj^-five violations of internal-revenue law have
been reported by agents during the year, four hundred and thirteen
persons have been arrested on their information, property to the yalue
of $52,531.72 has been reported by them tor seizure, aiid for assessments
for unpaid taxes and penalties the sum of $103,662.25 has been reported
by them.
There has been expended from the appropriation for salaries and ex• penses of revenue agents during the year as follows:
Aggregate salary of agents
Aggregate amount for traveling exi:)enses
Stationery furnished ageuts
Trausportation over Pacific Railroad
..:
Total
$83,290
43,393
277
1,378
50
20
17
67
* . . . . . . . 128,339 54
E X P E N D I T U R E S FOR THE DISCOVERY A^ND PUNISHMENT OF FRAUD.
In accordance with the provisions of the act making the appropriation, the followiug detailed statement of expenditures for detecting a n d
84^
REPORT ON T H E
FINANCES.
bringing to trial and punishment persons guilty of violating internalrevenue laws is submitted:
AMOUNTS E X P E N D E D through COLLECTOBS of INTEBNAL BEVENUE, during
. the fiseal year 1884.
Names.
District.
Bingham, A r t h u r
B r a y t o n , E. M
Buckner Lewis . . . . .
Cooper H . M
Cooper, T. Is
C r u m b a u g h S. R
..
Drury George . . . . .
Duval, I. H
Farley, E
H u g h e s , A . M., j r
Jobnson, W. H
Landram, W. J
Melton, J. M
Raulston J . B
Umbdenstock William
W alther, J . F
Y o u n g I. J •
. .
'
Amount.
Alabama
South Carolina
Fifth K e n t u c k y
Arkansas
Sixth N o r t h Carolina
Second K e n t u c k v
Louisiana
.v
.'
Second K e n t u c k y -.
Fifth Tennessee
Oeorgia
.
..
.
. . Second T e n n e s s e e
Fourth Vir'dnia
Fourth Texas
F o u r t h North Carolina
Total
$40 00
1,049 00
974 55
153 50
1, 322 50
25 00
200 00
390 00
40 00
584 00
2, 335 00
1 276 00
359 00
669*47
40 00
17 50
132 00
9, 607 52
AMOUNTS E X P E N D E D through B E V E N U E AGENTS.
Name.
Amount.
Brooks A . H
Chapman, W. H
Clark, A. H
Clemen Gustav
$9, 223
120
1, 525
528
2, 662
87
1, 268
178
300
5, 690
277
199
2, 579
.
Donelson, E . V
Grimeson T. J
Hale J . H
:
...
Kellogg, Horace
Kniffht A . A
Lofland J o h n
McCov J. B
51
00
03
00 !
49
36
47 1
39 1
60
95 1
85
65
09
Name.
Amount.
McLeer E
Neustadtl, F. S
Packard, J
Plummer, S
Powers, Thomas.
Raum, J. M
S o m e r v i l l e W^m
Thrasher, L. A
Wao"ner, J a c o b
W i l s o n , G. W
$937
2, 072
1,470
1 728
1 630
711
338
3, 350
1, 046
3, 067
...
Total
81
31
44
20
35
85
56
89
76
44
40, 996 00
RECAPITULATION.
Amount expended by collectors
Amount expended by revenue agents. .^
Rewards under cirqiilar No. 99
Total
;...
.-
$9, 607 52'
40, 996 00
6, 733 05
57,336 57
AMOUNTS E X P E N D E D by COLLECTOBS and B E V E N U E AGENTS, A P P B O P B I ATIOls of 1883, NOT HEBETOFOBE BEPOBTED.
Name.
Districti
Amount.
COLLECTOR.
Cooper H . M . .
Cooper T. N
C r u m b a u g h , S. R
J o h n s o n , W. H
Arkansas
Sixth N o r t h Carolina
Second K e n t u c k y
Georgia
Total
1
. ^
•
$41
53
7
77
00
00
00
00
178 00
REVENUE AGENT.
Knight, A. A
Thrasher, L. A
Total
251 6C
200 00
-
451 60
COMMISSIONER OF INTERNAL
85
REVENUE.
^ Rewards under circular I^o. 99, appropriation 1883, not heretofore
reported, viz, $1,862.52.
The accounts for expenditures under this appropriation are rendered
monthly with an itemized statement, and in all cases supported by
proper subvouchers duly sworn to. These accounts pass through all
the accounting offices in the Treasury Department, and are filed in the
Register's Ofifice.
There is in the hands of collectors and agents for the enforcement of
the laws and the protection of public property the following-described
ordnance stores, fpr w^hich they are responsible:
0}
•§
09
District.
Name.
1 i l\
•c .
W. J . Landram
T.N.Cooper
W. H. Johnson
Dennis Eiisran
Georsre Drurv .
A. M. Hughes, j r . . . .
J . B. Raulston
A. Bingham
W. H Wheeler
I. H. Duval
J a s M Melton
E M. Brayton
I, J . Y o u n g . . . . . .
Jacob Wagner, revenue agent.
Total
-
Eighth Kentuckv . . . . . .
Sixth North Carolina...
Georgia
Florida
.
Louisiana
....
Fifth Tennessee
Fourth Virginia
Alabama
Fifth North Carolina . . .
West Virginia
Second Tennessee
South Carolin-a
Fourth North Carolina .
...
,
8 .
3
11
a
Ox
Xil
3
O
i. &
1
li
{0
1
1
Ul
1
.2
1
03
ao
7
8
64
5
6
2
21
10
9
6
10
13
10
1
2
1
10
1
1
2
13
4
1
172
3
53
3
59
4
8
27
9
• 27
6
6
3
1
t^
The following statement shows the number of illicit stills seized^ pers ons arrested, and casualties to officers and employes during the last
fiscalyear:
Stills seized.
i ®
o g
uu
District.
as
O'p,.
Second Alabama
Arkansas
Georgia
Second Kentucky
Fifth Kentucky
Eighth Kentucky
Sixth Missouri
First New York
T h i r d N e w York
Fourth North Carolina
Fifth North Carolina
Sixth North Caroliua
Twenty-second Pennsylvania.
South Carolina
Second Tennessee
Fifth Tennessee
Fourth Texas
Vermont
Fourth Virginia
1
West Virginia
Third Wisconsin
Total .
5
801
;4
12
1
1
1
3
2
1
15
6
1
102
902
86
REPORT ON THK
FINANCES.
Statement of the number of stills seized and casualties to officers and
employes engaged in the suppression of illicit distillation for the last
six years:
«
^
1878. •
s t i l l s seized
„
OflScers and e m p l o y 6 s killed
Oflficers a n d e m p l o y e s w o u n d e d
>..
1, 024-
1879.
969
3
7
1,319
•8'
17
1881.
1880.
19
1852.
1883.
464
4
1
756
1
9
397
1
Strongrepresentations \N ere made in vain to Congress at its last session
against the policy of reducing: the force of revenue agents below the
number of thirty-five fixed in the Eevised Statutes. Only twenty can
now be lawfully employed. With one necessarily on duty in Washington, and at least three others engaged in the work of examining the
offices and accounts of collectors, only sixteen are left to watch over
the generall conduct of the s.ystem throughout the country and detect
or prevent frauds upon the revenue.
This leaves too many avenues for fraud exposed, and I fear will result in much injury. It is difficult for any one man efficiently to do the
work belonging to a revenue agent in a territory embracing sometimes
three or more States and never less than two.
OFFERS IN COMPROMISE.
The following statement shows the uumber of offers received and
accepted in compromise cases for the fiscal year ended June 30, 1884,
with amount of tax, assessed penalty, and specific penalty accepted, as
provided under section 3229, Revised Statutes:
r
Months.
o
o
fA •
July
August
September
October
November
December
January
February
March
'
April
May
.
June
\"
..
,
'.
Total
.
.
• 1
o
o
i.
Araount of tax.
Compromise
offers—
'
§11
ill
27
14
2
15
54
68
• 53
54
31.
59
52
88
454
517
$364 67
821 95
73,819
846
30, 887
6f), 576
5,712
1,719
25
468
303
40
21
70
61
84
04
00
37
32
181, 545 11
W h o l e n n m b e r of offers r e c e i v e d . . .
W h o l e n u r a b e r of offers a c c e p t e d . . .
A m o u n t of t a x a c c e p t e d
A m o u n t of a s s e s s e d p e n a l t y fi.xed b jM a w . . .
A m o u n t of specific p e n a l t i e s in lieu of fines, forfeitu •es, a n d p e n ilties
Total
00
09
00
12
95
74
05
97
00
02
87
00
$704 67
1 102 04
35 00
75, 065 68
2 242 43
32, 755 44
68,172 80
8 177 -64
3' 796 80
'883 02
3 567 74
3, 945 40
18, 325 81
200 448 66
.
$7'i6"
116 27
6 00
45 14
20 83
267 76
62 50
52 08
577.74
Total.
B «^
<3
<1
<
40
26
35
40
34
51
43
. 44
43
37
36
25
. :i
$340
280
35
1,239
1, 279
1, 861
1, 551
2, 443
1,810
858
3, 036
3, 590
• 454
.- .
517
$181, 545 11
577 74
18,325 81
200,448 66
COMMISSIONER
OF
INTERNAL
87
REVENUE.
S T A T E M E N T o f C A S E S C O M P B O M I S E D , under section 3229 Bevised Statutes, f o r the
^
quarter ending September 30, 1884.
,
[The number received and settled and am'ounts received therefor.]
Compromise cases—
First quarter.
Specific
penalty.
Tax.
Received.
Total.
Accepted
1884.
July
August
September..
Total.
$255 25 $835 15
8 33* 995 57
277 28 2, 038 33
$1, 090 40
1, 003 90
2, 315'61
3,869 05
4,409 91
540 86
ABSTRACT
OF
SEIZURES.
Seizures of property for violation of internal-revenue laws during the
fiscal year ended June 30, 1884, were as follows:
Articles.
^
Quantity.
.;
Distilled spirits
Tobacco
Cio^ars
.
....
Total
...
.
gallons..
.. pounds
nnmlip.r
Value.
27,679
2, 529
434,089
$23, 640
428
3 013
79, 417
...
72
56
79
22
106, 500 29
A B S T B A C T of S E I Z U B E S of P B O B E B T Y f o r V I O L A T I O N of I N T E B N A L
E N U E L A W S , f o r the q u a r t e r ending Sepiember 30, I S U .
Distilled spirits.
Tobacco.
Cigars.
BEV-
Miscellaneous,
property.
States and Territories.
Gallons.
Alabama . . . . ^
Arkansas
California
Georgia
.
.
.
...
Kentucky
Louisiana
Marvland
690
42.
18
714
30
42.
Value.
$690
42
36
503
30
74
00
00
00
00
00
00
Number.
1,800
312, 050
.;.
10
206
io
'80
213
213
204
204
2,169
1, ,882 00
$13 00
2, 000 00
Pounds.
32
Value.
$7 75
200
12 00
i35, 800
1, 394 00
56
6,670
2, 456
6,150
71, 776
200 00
747 00
$270
40
1,003
1,414
00
00
00
00
295
2, 760 66
70 do
2, 628 00
1, 673 00
325
158
65
.4
AVisconsin
"
37 00
648 00
389 00
Tennessee
Total
Value.
275 00
. 200 00
105 00
'
NeAV Y o r k
N o r t h Carolina
Ohio
Value. .
527, 776
' 4,166 00
9,509 1,151 75
00
00
00
00
10,920 00
88
REPORT
ON T H E
FINANCES.
The following is an abstract of reports of district attorneys for the
fiscal year 1884 of i nternal-re venue suits pending, commenced, and disposed of:
vy
i,^„ ^1? N u m b e r of
actions.
Suits pending July 1,1883
,
Suits commenced during fiscal year 1884
Suits decided in favor of the IJnited States :
Judgments and c6sts paid
;
Judgments and costs not paid
,
2,700
4,702
^^^^^
Number of
actions in
ram.
102
26
425
249
Total.
3, 227
4,977
667
2,386
580
2,309
3,053
Suits
Suits
Suits
Suits
Suits
settled by compromise
decided against the IJnited States
dismissed, abandoned, and consolidated. Sec
pending July 1,1884
wherein sentence is suspended
1,239
2,490
921
235
641
1,371
2, 904
921
26
33
109
354
Fines, &c. Principal.
Costs.
Total.
Amonnt of judgments recovered and costs taxed in
$113,199 96 $250, 524 45
criminal actions
!$137, 324 49
Amount of judgments recovered and costs taxed in
172, 646 06
6,178 77
. civil actions in personam
$166, 467 29
Amount of judgments recovered and costs taxed in
5, 684 97
1, 638 66
actions in rem . •
.
4,046 31
28,405 53
Amount paid to collectors in criminal actions
48, 227 24
19, 821 71
2, 947 42 100, 552 75
Amount paid to collectors in civil actions inpersonam
97.605 33
4, 598 04 1, 230 31
Amount paid to collectors in actions in rem
5,828 35
ESTIMATED EXPENSES* F O R NEXT FISCAL
YEAR.
I estimate the expenses of the Internal Kevenue Service for thefisoal
year euding June 30,1886, as follows:
For salaries and expenses of collectors
$1, 850,000
For salaries and expenses of twenty revenue agents, for surveyors, for fees
and expenses of gaugers, for salaries of storekeepers, and for miscellaneous e x p e n s e s . . .
I
2,300,000
For dies, paper, and stamps
475, 000
For detecting and bringing to trial and punishment persons guilty of violating the internal-revenue laws, including piayment for information
and detection
1
65,000
F o r salaries of officers,, clerks, and employes in the office of the Commissioner of Iriternal Revenue
294,590
Total
4,984,590
SCALE OF SALARIES OF COLLECTORS.
The recommendations made for the salaries of collectors for the fiscal
year ending June 30, 1885, are based upon an estimate of their probable collections according to the following scale, with the qualification
that if the actual collections should vary from the amounts estimated
the salaries will be readjusted at the eud of the fiscal year:
F o r collection of—
$25,000 o r l e s s
.
25,001 t o $37,500
37,501 t o 50,000.
50,001 t o 75,000
75,001 to 100,000
100,001 t o 125,000
125; 001 t o 175,000
175,001 t o 225,000
225,001 t o 275,000
275,001 t o 325,000
.325,001 t o 375,000
Salary.
...$2,000.
,2,125
2, 250
2,375
2,500
2,625
2,750
2,875
3,000
3,125
3,250
F o r collection of—
$375,001 t o $425,000
425,001 t o 475,000 . . . . . . ' '
475 001 t o 550 000
550 001 t o 625000 .
625,001 to 700 000 . .
700,001 t o 775 000
775,001 t o 850,000
850,001 t o 925,000
925 001 to 1 000 000
1 000,001 a n d u p w a r d - .
Salary.
$3,375
3,500
3,625
3 750
3, 875
4,000
4,125
. 4,250
4, 375
4,500
COMMISSIONER OF INjTERNAL
89
REVENUE
EXAMINATION OF COLLECTORS' OFFICES.
The examination of the accounts of collectors has been contiuued during the past year with gratifying results.
OFFICIAL FORCE.
The force connected with this bureau during the fiscal year which
ended June 30, 1884, in the various districts throughout the United
States, as reorganized uuder the Executive order of June 25, 1884, as
modified, was 84 collectors, who received per aunum salaries as follows:
Number..
Salary.
Number.
29
2 ....
2 ..
4..:
2..
2.
.
1..
4
4....
-
$4, 500
4,250
4,125
4,000
3,875
3,750
3, 625
3,500
3,375
Salary.
4..
3
4
6
11
2
3
1
1
$3,250
3,125
3. 000
2.875
2.750
2.625
2,500
2,250
There were also employed during the year 1,001 deputy collectors,
who received per annum salaries as follows:
Number.
Number.
Salary.
22.............
11
34
1
10
31.:::::.::
.:::::::::.:
::.
3
. . . .
50..
9 :::::::::::::::::::::::::::::::::.::::;
134
1
44
.
. . . .L. . . . . ^
3
166
1
157 .
. .
.
2 ::::::::::::::::::
:::::::::::::::::
1
118
:
1
$2, 000
1, 900
1,800
1, 750
1,700
1,600
1,550
1,500
1,450
1,400
1,350
1,300
1,250
1,200
1,150
1,100
1,050
1,025
1,000
975
6.
68
6..
26
:
17
1...
11
15
1.
2
2
6 ...;.........
1
23
3
7
1
3
2
1
Salary.
$950
900
850
800
700
660
600
500
460
450
425
400
360
300
250
200
150
120
100
60
;
AFso 192 clerks, messengers, and janitors, who received per anuum
salaries as follows:
Number.
1
4
3
7
2
4
1
34.
9,
9
Salary.
.
:...:
.
$1, 800
1,600
1, 500
1,400
1,350
1, .300
1,250
1,200
1,150
1,100
Number.
Salary.
35
33
14
- 5 V . VV. :• . • • . . . . . . . . . . . , . ; i v . .
1
8
2
14
2
4
$1, 000
900
RM)
^v : . . . . |
.
.,!
750-
720
700
650
600
500
300
90
REPORT ON THE FINANCES.
The force now connected with this Bureau in the various^ districts
throughout the United States is So collectors, who receive per annum
salaries as follows:
,
,
Salary.
Number.
32
.2
5
:.
:
1
•
2
3
0
3
$4, 500
4, 250
4, 000
3,875
3,750
3, 625
3,500
3,375
Nuraber.
• Salary.
4......
1
7
5
.
11
'.
;
2
4::::::::::::::::::::::::::::::::::::::
1
$3, 250
3,125
3,000
2,875
'2, 750
2,625
2,500
2 125
There are also now employed 956 deputy collectors, who receive per
annum salaries as follows:
. Number.
22
11
34
1
10
31
2
47
8
128
2
36
4
149
141
3.
1
133
6
Salary.
...
.:
'
...
. J
:
$2, 000
1,900
1,800
1,750
1,700
1,600
1,550
1,500
1,450
1,400
1,350
1,300
1,250
1,200
1,100
' 1,050
1,025
1,000
950
Number.
57
4
22
Salary.
.
1
$900
850
800
750
700
660
600
500
450
425
400
360
300
250
200
150
120
100
60
Q
15
1
13
14
1
2
6
2
26
3
11
4
3
1
1
..:...:.
Also 180 clerks, messengers, and janitors, who receive per annum
salaries as follows:
Number.
1
2
3
9
1
4
1
31
9
9
. . . .
:
Salary.
$1,800
1,600
1,500
1,400.
1,350
1,300
.
1,250
1, 200
1,150
1,100
Number.
30
33
14
5
1
8
2
13.
2
•2 .
•
Salary'.
.
.
*.'
'
.-
$1, 000
900
800
750
720
700
650
600
500
300
There are also employed 800 gaugers, who receive fees not to exceed
$5 per diem; 1,104 storekeepers aud gaugers and 659 storekeepers,
whose pay does not exceed $4 per diem (all the foregoing officers are
paid only when actually employed).; 36 tobacco inspectors, who receive
fees to be paid by the manufacturers, and 7 distillery surveyors.
The aippropriation bill for the fiscal yesiv ending June 30, 1885, contained the provision that storekeepers or storekeepers and gaugers
assigned to distilleries whose registered capacity is 20 bushels or less
shall receive $2 per day for their services. In view of this provision it
COMMISSIONER OF INTERNAL REVENUE.
91
was deemed best to grade the pay of all officers of the classes named
according to the capacity of the distilleries to which tliey may be assigned, and the following scale has been adopted for tbose assigned to
distilleries of a daily capacity 'of more than 20 bushels:
Compensation for storekeepers and gaugers and storekeepers assigned
to distilleries having a surveyed daily capacity exceeding 20 bushels
and not exceeding 40 bushels, $3 per day; corapensation of those assigned to distilleries having a surveyed daily capacity exceeding 40
bushels and not exceeding 60 bushels, $3.50 i>er day; compensation of
those assigned to distilleries having a surveyed daily capacity exceeding
60 bushels, $4 per day. I have done this because of the apparent incongruity of paying storekeepers $4 per day if assigned to 21 bushel
distilleries, when they would be paid only two dollars per day if assigned
to distilleries having a daily capacity of 20 bushels or less. And I may
report that it will probably be very difficult in some locali,ties to get
suitable xiersons to accept assignments to distilleries where the pay is
only two dollars.
CONDITION OF 'JHE OFFICE.
My thanks are due to the officers, clerks, and employes of-the Bureau
in Washington for faithful and efficient work during the year. The
business of the office is well up to date and progressing satisfactorily.
REPORT OF WORK P E R F O R M E D .
The work performed by the different divisions of the office during the
fiscal year ended June 30, 1884, is shown by the following statement:
DIVISION OF LAW.
Offerts in compromise briefed
'
507
Opinions prepared .'...
498
Offers in conipromise acted upon
__
528
Reward clainis acted upon
'
50
Railroad cases adj usted
14
Reports of suits and prosecutions
.•
4,967
Claims for surplus proceeds of lands sold for direct taxes examined
and disposed of
..!.
163
Claims for surplus proceeds of lands sold for direct taxes allowed by
the Secretary of the Treasury and paid
31
, Amount paid in settlement of direct-tax claims
$15,150 50
Clainis for purchase money examined and acted npon
6
Cl.aims for abatement of taxes disposed of
2,286
Orders for abatement of taxes issued
1
321
Amount.of abatement claims allowed (uncollectible)
$276, 424 35
Arnount of abatement claims allowed (erroneous assessment j
.|787, 361 15
Amount of abatement claims rejected (uncollectible)
|9,172 88
Amount of abatement claims rejected (assessment claimed to be erro- *
neons).-....
$324,296 71
Claims for refunding of taxes disposed of
'
180
Amount of refunding claims al lowed . . . . . . . i . .
•
$50,150 12
Amount of refunding claims rejected
:
$39,435 68
Number of rebate claims allowed
:
'
44,893
Amount of rebate claims allowed
$3,485, 414 57
Stamp orders for payment of rebate claims issued
940
Amount of stamp orders issued . . : . . . . . . ^
.....
$149,311 90
DIVISION OF DISTIBLED SPIRITS.
Returns and reports relating to distilled spirits examiued aud dis^ posed df
.....:.
•
Returns aud reports relating to fermented'liquors examined and disposed of
......
Computations of capacities of distilleries made and data for assessment furnished
267,747
29,066
16, 340
92
. REPORT ON THE , FINANCES.
' -
Locks examined and issued
Hydrometer sets, stems, cups, and thermometers tested and i s s u e d . . .
Gauging-rods examined and issued.
.
. Wantage-rods examined and issued
2,454
2,645
136
133
D I V I S I O N O F TOBACCO.
Reports relating to tobacco examined and disposed of
Reports relating to cigars examined and disposed of
Abatement and refunding claims audited
Rebate claiins audited
'
849
7, 522
45
5,750
DIVISION OF STAMPS.
Sheets of stamps received from Bureau of Engraving and Printing,
and counted
,
28,315,800
Collectors' orders and requisitions filled
5,452
Packages of stamps mailed
28,570
Brewers' permits issued
; '
105,600
Books ofstamps returned by collectors received and counted
45,467
Stamps and coupons returned by collectors received and counted
51,650,599
Stubs e x a m i n e d . . . :
,..
11,765,655
Books of stamps and coupons referred to Fifth Auditor
31,119
Claims for rederaption of stamps examined.
7,708
Claims for redemption of stamps allowed and referred to Fifth Auditor
'.
. ..
5,899
Claims for redemption of stamps rejected
636
Claims on Forms (56 and 66a examined and allowed
694
Tax-paid and special-tax stamps examined and checked on claims 66
and 66a
76,836
Stamps for which allowance has been made counted
17,852,464
Packages of check stamps canceled and returned
,,
2, 944
Stamps canceled and returned
10,379, 459
Reports examined aud disposed of
\
29,110
Statements of accounts made
1
462
Names of persons cojued from special-tax stubs reported to assessment division as liable to assessment
13,777
Packages received by express recorded and distributed
4,599
Packages received by registered mail recorded and distributed
6,699
Value of stamps received from Bureau of Engraving and P r i n t i n g . . . $143,940,660 67
Value of stamps issued to collectors
. . $138,879,709 75
Value of stamps, destroyed..
...j
..
$719,628 48
Value of stamps forwarded to Fifth Auditor as vouchers in collectors'
accounts
,
$13,163,319 39
Value of claims for redemption of stamps allowed
$375,049 28
Value of claims on Forms 66 and 66a allowed
$2,720,829 75
Value of check stamps canceled and returned
$207,589 18
Value of check stamps destroyed
$149, 460 10
DIVISION OF ASSESSMENTS.
Reports relating to assessments examined and disposed of
Reports relating to bonded accounts examined and disposed of
Reports and vouchers relating to exportations exarained and disposed of
Claims for drawback disposed of
„
16,273
498,366
109,118
1,090
DIVISION OF ACCOUNTS.
Weekly reports examined and. disposed of.. ^
^:.
Monthly reports examjined and disposed of
Quarterly reports examined and disposefd of
Miscellaneous accounts examined and disposed of
Final accounts of collectors referred for settlement
Certificates of deposit for internal revenue collections recorded
Amountingto...
$121,677,737 91
Certificates of deposit to credit of Secretary.
Amountingto
219,461 09
3,782
18,528
472
590
89
30,006
' .526
COMMISSIONER OF INTERNAL REVENUE.
^
93
Drafts mailed to collectors for gaugers' fees and
expenses
. Amounting to.
..:
$836,683 75
Drafts mailed to collectors for transfer of special
'
deposits
Amountingto....
201,870 05
Drafts mailed to collectors for compromise offers
returned
' Amountingto...
10,813 68
Drafts mailed to collectors for. expenses of office
Collectors' monthly reports of taxes, &c., consolidated into yearly
statements
Consolidatedstatements of monthly reports of taxes, &c., recorded..
7,962
295
56
1,103
1,457
136
DIVISION OF REVENUE AGENTS.
Reports of revenue agents disposed of
;
Reports of collectors relative to illicit spirits disposed of
Accounts of revenue agents examined
-.
Miscellaneous expense accounts examined
Transcripts of books of leaf-tobacco dealers exarained and abstracted.
Quarterly returns of ordnance and ordnance stores in hands of collectors examined
,
,
Reports of examining officers on condition of collectors' offices examiued aud recorded
Reports of collectors of seizures of illicit stills, Form 162, exarained
and recorded
,
Reports of revenue agentsof seizures, &c., Porm 170, examined and
recorded..
•
2,135
128
829
259
3,305
~ 76
176
275
254
DIVISION OF APPOINTMENTS, RECORDS, AND FILES.
Commissions of collectors recorded, collectors notified, and blank
bonds prepared
Bonds of collectors and disbursing agents r e c o r d e d . . . . . . . . '
Commissions of gaugers, storekeepers and gaugers, storekeepers and
tobacco inspectors recorded, and appointees notified
Bonds of subordiuate officers examined and recorded
Assignments of storekeepers, storekeepers and gaugers, and guagers
recorded
Reports of examining officers on condition of collectors' offices examined and acted upon
Letters for entire Bureau received and registered
1
Letters briefed and filed .'
Press copies of letters m'ailed, registered, and arranged for reference.
Pages of press-copy letters copied in record books, indexed, and compared
-Pages letter and cap paper copied, compared, and registered
Orders for press copies for reference
:
Envelopes and labels addressed for circulars and blanks
Unrecorded press-copy books paged and indexed (1000 pages e a c h ) . .
Pages blank books ruled and headings written
Rebate claims checked and comparecl
Rebate claims scheduled
•
Blank forms prej)ared and issued
'.
Blank books issued
„
.
71.
110
497
548
9, 877
227
54, 378
32, 755
. 59,646
17,964
18,627
3, 617
5, 442
60
5, 340
29, 833
4H, 845
8, 016, 470
13,997
SALARIES.
I have the honor to recommend that Gongress appropriate tor the
fiscal year ending June 30,1886, the sum of $294,590 as salaries for the
following officers, clerks, and employes in this Bureau:
One commissioner, at
One deputy commissiouer, at
Two heads of division, at
Five heads of division, at
-^
One superintendent of stamp vault, at
One stenographer, a t .
•.
1
$6,000
3,500
2,500
2,250
2,000
1,800
94
REPORT ON THE
Twenty-four clerks, at
Twenty-five clerks, at..'
Thirty-four clerks, at
Twenty-four clerks, at
Fourteen clerks, at
Seventy-nine clerks, at
Two messeugers, at
Fourteen assistant messengers, at
Thirteen laborers, at
An aggregate of 240 persons.
FINANCES.
.'
1
.'
$1, 800
1, 600
1, 400
- 1,200
1, 000 •>
900
840
720
' 660
I also recommend the appropriation of the-sum of $2,500 as salaries
for oue stamp agent, at $1,6.00, and one counter, at $900, the same to
be reimbursed by the stamp manufacturers as provided by the act of
August 5, 1882.
NUMBER AND VALUE OF STAMPS ISSUED.
STATEMENT of ,the NUMBEB, KIND, and VALUE of INTEBNAL-BEVENUE
STAMPS ISSUED io COLLECTOBS, during the fiscal year ended June 30, 1884.
Denomination.
Stamps
Stamps
Stamps
Stamps
Stamps
Stamps
Stamps
for
for
for
for
for
for
for
distilled s p i r i t s t a x - p a i d
diptilled s p i r i t s , otlier t h a n t a x - p a i d
t o b a c c o a n d snuff . .
.'
ciffars a n d c i g a r e t t e s
.
.f e r m e n t e d l i q u o r s a n d brewei?s' p e r m i t s
v««pecial t a x e s
documents and proprietary aiticles
Kumber.
..
*
^.
Total
Value.
1,737,450
4,100, 900
291,428,084
122.487,838
62, 381, 520
848, 020
9,537
482, 993, 349
$82, 869, 345
20, 560
16, 907, 648
10, 874, 754
19,191, 740
• 9, 015, 662
209
00
00
10
65
00
00
25
138, 879, 919 00
CANCELLATION OF STAMPS.
The work of canceling and redeeming stamps im])rinted upon checks
and returning the same to claimants was suspended in November, 1883,
because the appropriation of the Bureau of Engraving and Printing
would not justify that bureau iu any longer continuing the w^ork, as
fullf exi)lained in my last annual report. This left quite a number of
stamps on hand accompanying claims which were received prior to
July 31, 1883, uncanceled, and many were received thereafter with the
request for cancellation. The attention of Congress \vas called to the
subject, and the necessary appropriatiou was made by an act approved
February 14, 1884, and on the 25th of Febraary the cancellation of
stamps was resumed. There were einployed in JFebruary 65, in March
73, in April 88, in May 20, in June 12, in July 16, in August 9, and for
thirteen days in September 7 persons. The iucrease or diminution of
the force during this time was caused by the increase or diminution of
the work, and all claims for cancellation, with the exception of about
half a dozen, were completed on the 13th of September, 1884.
The amount expended from the appropriation above referred to during this time was as follows:
,
Bureau of Engraving aiid Printing reimbursed
Employes during—
February
March
April . . . . .
May
'
June
- July
August .
..:
To September 13
'Total
$8,137 62
:....
,
608
3,467
4,228
858
600
654
354
144
00
88
85
00
00.
00
00
00
19,052 35
COMMISSIONER OF INTERNAL REVENUE
,95
leaving, a balance of the appropriation -unexpended at this date of
$947.65. ,
' .•••'
• ^. •
Two thousand nine hundred and forty-four packages of stamps,
amounting to $207,589.18 in value,were canceled and returned, and
stamps amounting to $149,460.10 were redeemed and destroyed, making
the total value of stamps redeemed $357,049.28. . There remain on
hand at this date about 1,200 packages, and it is quite probable that
the greater portion of this number\will be rejected unless the necessary
proof is promptly furnished. All of these claimants have been notified, .
some of them repeatedly^ of what was necessary for them to do to perfect their claims.
Packages of check-stamps are being received daily for redemption
and are being counted and disposed of as. current work by the regular
official force. Where the claims are perfect the stamps are destroyed
aud the claim allov/ed; otherwise, the stamps are held and the claimants informed what evidence is necessary before their claims can be
further considered. In many cases parties are unable to give the date
of purchase from the Government of adhesive stamps, or the date of
imprinting upon checks by the Graphic Company, and as the act of
March 1, 1879, requires that stamps should be presented within three
years from the date of purchase or imprinting as above stated, it is impracticable to dispose of these claims save by rejection. With exception
of such cases as are herein referred to, the work in connection with this
branch of the service is disposed of as current work by the regular force
of the ofiice.
"
MANUFACTURE OF P A P E R .
. During the present fiscal year^ after due advertisement for proposals,^
a contract has been entered into with the Fairchild Paper Company, of
Boston, Mass., for the manufacture of about 450,000 pounds of paper
for (x)iinting) internal-revenue stamps. The rate to be paid under.the
contract is 8f cents per pound. The work of manufacturing the paper
was comraenced on the 21st of July, 1884, and is still in progress.
Should the business of the country demand a larger number of stamps
during the present fiscal year than during the last, as now seems quite
likely to be the case, the quantity of paper to be manufactured will be
increased.
PRODUCTION OF STAMPS.
During the last fiscal year all internal-revenue stamps have been
produced by the Bureau of Engraviug and Printing, except stamps
imprinted upon foil wrappers for tobacco, which have been printed by
John J. Crooke, of JSTew York.
The sundVy civil bill for theyear ending June 30,1885, as it originally
passed the House, is as follows:
For paper and stamps, four hundred aud ten thousand dollars; the engraving and
printing of said stamps to be done io the Bureau of Engraving and Printing of the
Treasury Department, under the direction of the Secretary of the Treasury : Provided,
That the cost of doing it there shall not hereafter exceed what it shall be found, after an advertisement for proposals, it would cost to have it done elsewhere.
The proviso was stricken out in the Senate. The act as tinally passed
reads as follows:
For paper and stamps for the Bureau of Internal Revenue, four hundred and ten
thousand.dollars; the engraving aud printing of said stamps fco be done in the Bureau
of Engraving and Printing of the Treasury Department, under the direction of the
Secretary of the Treasury.
It was the eyident purposie of the House of Eepresentatives at the
time of its first action upon the bill to allow internal revenue stamps
to be engraved and imprinted elsewhere than in the Bureau of Engrav
96
REPORT ON THE FINANCES.
ing and Printing, if the work could be done elsewhere,at less expense
to the Government; but the action of the Senate and tbe act itself as
finally passed seem to indicate a purpose to allow no competition with
that bureau. This subject is mentioned only for, the purpose of calling
attention to the following provision in the act making appropriation
' for the legislative, executive, and judicial expenses for the fiscal year
ending June 30, 1885:
For one stamp agent, at sixteen hundred dollars, and one counter, at nine hundred
dollars; in all twenty-five hundred dollars, the same to be reimbursed by the stamp
manufacturers.
This is the appropriation hitherto maide each year for payment of the
stamp agent and counter stationed at the place in New York where
stamps are imprinted on tin-foil wrappers. It was clearly designed to
meet that expense and no other, for there is no other similar expense to
be met.
When the bill of Mr. Crooke for the month of July reached the office
of the First Comptroller, he decided that no payment could be made
him for work of this character, for the reason that the act above
referred to required that all printing under the appropriation should
be done at the Bureau of Engraving and Printing. In view of the
great practical importanceof the question to persons using foil-wrappers,
a letter was addressed to the honorable Secretary of the Treasury on
the 23d of August last, setting forth the above facts, with others, and
requesting him to submit to the Attorney-General for his opinion
whether the restriction ofthe statute was not upon the expenditure of
the appropriation rather than upon the place of manufacture of the
stamps, and w^hether this office could legally cause them to be prepared elsewhere than in the Bureau of Engraving and Printing,
provided such preparation was without expense to the Government.
The matter was submitted to the Attorney-Qeneral by the honorable
Secretary, and under date of the 16th of September last he transmitted
his opinion in writing to the efi'ect that the Commissioner of Internal
, Eevenue is authorized to have stamps imprinted upon foil-wrappers
for the payment of tax upon tobacco elsewhere than in the Bureau of
Engraving and Printing, provideci that the United States are at no
expense thereabout, &c.
A contract will be made with John J. Crooke, of New York City,
forthe imprinting of stamps upon foil-wrappers without charge to the
Government, he receiving such remuneration from manufacturers of
tobacco as may be agreed upou between them, and he reimbursing to
the Government the salaries of one stamp agent and one counter,
amounting to $2,500 per annum.
One reason why this work cannot well be done by the Bureau of
Engraving and Printing is that the process of imprinting upou foil is
a patent process, and another that a great majority of manufacturers
who use the foil-wrapper with the stamp imprinted as aforesaid have
their manufactories in the vicinity of New York and would be subjected
to much additional expense in the way of freights, should the foil be
shipped here to be imprinted and then returned to them, besides the
risk of injury to the wrappers iu transitu.
TOBACCO.
Tbe internal-revenue taxes collected from tobacco duriug the fiscal
year ended June 30, 1884, aggregated $26,062,399.98. This amount includes taxes imposed on domestic and imported manufactured tobacco,
snufp, cigars, and cigarettes, and all special taxes i)aid by manufacturers
and dealers in tobacco.
COMMISSIONER OF INTERNAL REVENUE.
97
The collections from the same sources made during the fiscal year
ended June 30, 1883, were $42,104,249.79, and during the fiscal ended
June 30, 1882, were $47,391,988.91.
The collections made during the last fiscal year were nearly all under
the rates of tax prescribed by the act of March 3, 1883. Those made
during the fiscal year ended June 30,1883, were partly under those rates
of tax and partly under the rates of tax prescribed by previous acts.
Those made during the fiscal year ended June 30, 1882, were under the
rates of tax in force prior to the time when the act ofMarch 3, 1883, took
efiect.
J t will be observed, by comparing the receipts for the last fiscal year
with those for the fiscal year immediately preceding it, that the decrease
of revenue from tobacco was $16,041,849.81, and by comparing those
receipts with'the receipts for the fiscal year ended June 30, 1882, that
the decrease was $21,329,588.93. This last comparison more nearly
shows the effect of the reduction of the tax on tobacco under the act
of March 3, 1883. For the collections of those two fiscal years were
made under the different rates of tax.
But this comparison is not complete, owing to the fkct that the production of tobacco, snuff", and cigars for the last fiscal year shows a
large increase over the production for the fiscal year ended June 30,
1882, as will be more clearly seen from the following comparative statements :
Tear.
1884
1882
..
' . .
Increase
Pounds tobacco Number cigars
and suuff.
and cigarettes.
184, 833, 667
172,153, 816
4, 451, 643 225
3, 662, 973, 076
12, 679^851
788, 670,149
R E C E I P T S FROM TOBACCO AND SNUFF.
Manufactured tobacco at 8 cents per pound
Manufactured tobacco at 16 cents per pound
Snuff at 8 cents per pound
Totalfor'year ended June 30,1884
Total for year ended J u n e 30,1883
Decrease in collections on tobacco and snuff
$13, 486,899 61
1,147 80
448,211 58
13,936.258 99
22,872,425 35
8,936,166 36
Of this decrease $8,648,355.12 was on chewing and smoking tobacco,
and $287,811.24 on snuff*.
R E C E I P T S FROM CIGARS AND CIGARETTES.
Cigars taxed at | 3 per thousand
Cigars taxed at | 6 per thousand
Cigarettes taxed at 50 cents per thousand
Cigarettes taxed at $1.75 per thousand
Cigarettes taxed at P per thousand
Total for year ended June 30,1884
Total for year ended J u n e 30, 1883
Decrease in collections from cigars and cigarettes
|10,364,908 83
3,896 44
453,972 57
43
436 01
10,823,214 28
17,825,189 88
7, 001,975 60
Of this decrease $6,526,409.88 was on cigars, and $475,565.72 on
cigarettes.
5022 F
7
98
REPORT ON THE
FINANCES.
OTHER COLLECTIONS.
Dealers in manufactured tobacco, at $5
Dealers in manufactured tobacco, at $2.40
„
$923 77
1,135,862 43
Total for fiscal year ended June 30, 1884
1,136, 786 20
Total for fiscal year ended J u n e 30,1883
1,233,812 93
Decrease in collections from dealers in manufactured tohacco . .
Manufacturers of tobacco,
Manufacturers of tobacco,
Total collections for
Total collections for
97,026 73
special tax, at $10
^
special tax, a,t $6
year ended June 30,1884
year ended June 30,1883
15
5,102
5,117
5,697
Decrease special taxes, manufacturers of tobacco
00
49
49
88
580 39
Manufacturers of cigars, special tax, at $10
Manufacturers of cigars, special tax, at $6
20 00
97,942 19
Total for fiscal year ended June 30,1884
97,962 19
Total for fiscal year ended J u n e 30,1883
96,899 00
Increase special taxes, manufacturers of cigars
1,063 19
Peddlers of tobacco, special taxes, 1884
,
Peddlers of tobacco, special taxes, 1883
14, 465 01
^
14, 813 63
Decrease during fiscal year ended June 30,1884
348 62
Leaf dealers, year ended June 30,1884
Leaf dealers, year ended June 30,1883
Decrease special taxes, leaf dealers
48,595 82
54,535 12
5,939 30
No export stamps were sold during fiscal year ended June 30, 1884 j
during, jjrevious year sales were $876.
PRODUCTION OF MANUFACTURED TOBACCO, CIGARS, ETC.
The production of tobacco, snuff, cigars, and cigarettes for the fiscal
year ended June 30,1884, as shown from the several quantities removed
for consumption on payment of tax, together with the quantities removed in bond for export, is as follows:
TOBACCO AND SNUFF.
Pounds,
7,174
168,586,245
5,602,645
Tobacco taxed at 16 cents per pound
Tobacco taxed at 8 cents per pound
Snuff taxed at 8 cents per pound
Total quantity removed for consumption
Tobacco and snuff removed for exportation
;.:
Total apparent production
Total apparent production year ended June 30, 1883
Total increase of production
174,19^, 064
10,637,603
184,833,667
181,313,313
„
3,520,354
This entire increase, together with the excess of the quantity exported in 1883 over that in 1884, being 314,152 pounds, was put on
the market for consumption.
COMMISSIONER OF INTERNAL REVENUE.
99
CIGARS AND CIGARETTES.
Number.
Cigars and cheroots taxed at $3 per thousand
Cigars and cheroots taxed at | 6 per thousand
Cigarettes taxed at 50 cents per thousand
Cigarettes taxed at $1.75 per thousand
Cigarettes taxed at $3 i)er thousand
3,454,969,610
:..
649,407
907,945,140
246
145, 337
Total number removed for consumption
Cigars removed in bond for export
Cigarettes removed in bond for export
4,363,709,740
1,690,000
86,243,485
Total product for fiscal year 1884
Total product for fiscal year 1883
4,451,643,225
3,947,572,080
Total increase of production
....
504,071,145
Of this increase 495,799,095 were removed for consumption, and
8,272,250 were exported.
SPECIAL TAX COLLECTIONS.
The following statement shows the number of persons and firms who
paid special taxes during the fiscal year ended June 30, 1884, as manufacturers, dealers, and peddlers of tobacco, snuff, and cigars, and leaf
dealers:
. Manufacturers of tobacco, including snnff
Manufacturers of cigars, including cigarettes
Dealers in manufactured tobacco
Dealers in leaf tobacco
Peddlers of manufactured tobacco
Tofcal number of special tax payers
852
16, 326
473,465
4,623
1,587
496,853
100
REPORT
ON T H E
FINANCES.
S T A T E M E N T showing the N U M B E B of CIGAB MANUFACTUBEBS' ACCOUNTS
B E P O B T E D , the N U M B E B of CIGABS and CIGABETTES B E P O B T E D MANUFACTUBE!), during the calendar year 1883, and the Q U A N T I T Y of TOBACCO USED
• THEBEIN.
•
•
•
.
of
Number of Number
pounds of
accounts
t
o
b
a
c
c
o
reported.
used.
State or Territory.
Alabama
Arkansas.......
California
Colorado.-.
Connecticut
Delaware
Florida^:
Georgia^......-Illiiiois
Indiana.
Iowa
Kansas
Kentucky
Louisiana.......
Maine
Maryland
...
Massachusetts..
Micbigan
Minnesota
Mississippi . . . . .
Missouri..
Montana.
Nebraska."
New Hampshire
New Jersey . . . .
New York
North Carolina .
Ohio
Oregon...,,..
Pennsylvania'. ^.
Ehode Island ....
South Carolina..
Tennessee . .
• Texas.
Vermont
....
.Virginia
West Virginia..
Wisconsin
28
21
323
50
306
45
172
44
1,151
368
276
129
227
178
55
707
526
515
121
2
573
7
120
37
761
4, 086
22
1,434
14
4,102
65
' 18
36
59
21
153
110
532
41, 426.
32,174
3, 529,126
55,272
744, 695
100, 594
1, 052, 269
86, 550
3, 771, 545
992,195
.
944,651
341, 515
802,902
961,189
104, 373
2, 511, 826
1, 953, 691
2, 203, 897
557,191
493
1,430,188
13,174
- 265,961
83, 824
1,415,343
27, 645, 275
161, 882
6, 586, 454
30, 838
14,842,381
184,852
26, 930
78, .390
108, 650
78, 892
922, 332
872, 216
1,690,155
Number of cigars reported manufactured.
1, 787, 525
1, 526,840
151, 245, 386
2, 248,853
32, 185, 670
4, 207,617
45, 830, 025
3, 063, 777
161, 792, 389
40, 843,145
41, 663, 027
14, 322,840
.35, 115, 017
38, 664, 420
4, 302, 434
95, 584,569
82, 731,893
90, 262,. 096
24, 107, 974
9,400
62 ,233,920
549,450
11, 385, 900
3, 964, 690
60, 969,166
1,109, 767, 333
1, 988,150
284, 002, 069
1, 242, 385
657, 436, 573
8, 367, 720
1, 153,175
3, 517, 960
4, 552, 900
3, 712, 294
29, 331, 753
43, 478, 300
-72, 664, 651
N u m b e r of
cigarettes
reported
manufactured.
, 372, 470
377, 690
"i
14, 345, 650
74,129, 828
706, 840
4, 547, 700
159, 500
583, 580, 306
45,261,520
423, £
230, 620
"iie," 846,'245
EECAPITULATION.
Number
Nuinber
Number
Number
of accounts reported on Form 144
of pounds of leaf tobacco used
of cigars reported manufacturisd
of cigarettes reported manufactured
,
,....
/ 17,394
77, 225, 311
r - • - 3, 231, 813, 286
843, 982, 349
STATEMENT ofthe N U M B E B of TOBACCO FACTOBIES in E A C H STATE, the AGGBEGATE QUANTITIES of L E A F TOBACCO and OTHEB
MATEBIALS USED, and the AGGBEGATE QUANTITIES of the D I F F E B E N T K I N D S of MANUFACTUBED TOBACCO PBODUCED,
during the calendar year ended December 31, 1883, toe/ether with a S T A T E M E N T o f the QV ANTITY of MANUFACTUBED TOBACCO O N H A N D
at the COMMENCEMENT and at the CLOSE of ihe year, the QUANTITY to be ACCOUNTED FOB, the QUANTITY BEMOVED I N BOND
F O B EXPOBT, the TOTAL SALES BEPOBTED, and the AMOUNT of TAXES P A I D .
L e a f t o b a c c o a n d o t h e r m a t e r i a l s u s e d i n m a n u f a c t u r i n g t o b a c c o a n d snuff.
States and Territories.
Arkansas
California
Delaware..
Connecticut
Georgia
Illinois
Indiana
Iowa Kansas
Kentu cky
Louisiana
Maryland
Massachusetts
Michigan
Minnesota
Missouri
New Jersey
New York
N o r t h Carolina
Ohio
Pennsylvania
South Carolina
Texas
Tennessee
Virginia
^W e s t Virginia
Wisconsin
•.
-
:
Totals.
a?
8
29
9
3
1
69
41
17
11
7
2
76
IB
85
227
32
34
1
3
36
221
Leaf used.
Scraps used.
Pounds.
89, 613
215,189
1, 596, 663
Founds.
243
12,143
83, 225
9, 292, 734
56, 547
265, 014
59,184
12, 744, 695
2, 640, 367
4, 753, 946
524, 675
4, 586, 508
5,374
23. 554, 555
24, 667, 988
15, 373, 921
19,205,813
8, 235, 684
3, 599, 799
705
564,188
12. 277
4,774
359
33, 569
552
965, 930
18, 560
494, 733
9, 075
1, 001, 835
51, 544, 964
193,768
3, 953, 014
188, 254,150
S t e m s u s e d . L i c o r i c e used. S u g a r u s e d .
Pounds.
69, 581
1,081,389
815, 589
1, 561, 720
291,849
710,043
198,310
4,125
816, 533
244, 809
17. 451
278, 848
1,139
88, 722
1 251, 606
8, 221
134, 791
854,159
434, 330
204, 346'
237, 802
260, 710
16, 064
Pounds.
4,044
15, 558
.100
Pounds.
15, 397
26,779
450
Other materials used.
Poimds.
130
35, 014-
2,495
751, 025
1,141
2,152
116
1, 032, 490
23, 944.
70,194
77, 710
259, 928
3,057
1, 456, 576
1,860
5, 451
1,100
1, 714, 174
679
110, 632
67,156
636, 518
493
403, 875
394
10, 354
500
803, 748
7, 212177, 250
37, 622
350, 353
3, 528, 372
3, 498, 007
1,158, 200
591, 576
1, 344, 247
18. 031
2,601,719
2, 462, 784
1,159,-367
276,612
1, 331, 701
7,325
967, 812
1, 432, 891
814,331
561, 044
325, 382
51, 699
53, 280
3, 481, 484
42, 310
2, 864, 267
3, 607
1, 776, 913
T o b a c c o in
process.
Pounds.
3, 092
23, 883
252,165
1,155
130
405, 824
24,120
1,248
228, 328
40, 568
661, 666
154, 801
317, 741
779, 290
1, 969, 925
920, 682
2,100, 374
505, 572
173,326
723,125
50, 821
247, 001
83, 805
22, 711
789, 339
382
156, 029
4, 652, 701
,16, 964, 915
15, 032, 915
7, 844, 429
9, 532, 351
275
88, 982
Total materials used.
Pounds.
112, 519
328, 566
1, 918, 959
1,155
90,105
13,153, 070
73, 358
400, 587
62, 507
17,557,004
2, 713, 322
7, 991, 224
888, 745
6, 780, 572
5. 374
33, 367. 296
35, 281, 514
21,192, 567
23, 265, 070
12, 713, 339
4, 064, 554
9, 075
1,128,143
61, 362, 482
438, 959
5, 231, 246
250,131, 312
O
O
sm
Ul
O
Pi
o
..^
I—c
Pi
Pi
<
Pi
STATEMENTof the NUMBEB of TOBACCO FACTOBIES in EACHSTAIE, #c.—Continued.
O
T o b a c c o a n d snuff p r o d u c e d .
States and Territories.
P l u g made,
Arkansas ....
California...
D.elaware
Connecticut .
Georgia......
Illinois . .
Indiana
Iowa..
...
Kentucky
Louisiana
Maryland
Massachusetts..
Michigan . . : . .
Minnesota
Missouri
New Jersey ....
New Y o r k . . . . . .
N o r t h Carolina .
Ohio
Pennsylvania ..
South Carolina .
Texas
Tennessee . . . . . .
Yirginia........
West Virginia..
Wisconsin
Total.
Pounds.
82,089
228,446
4, 8"69
60,164
3, 856, 920
46, 584
3
1
69
41
17
11
7
2
76
13
85
227
32
34
1
3
36
221
Fine-cut
made.
Smokmg
made.
Pounds.
Pounds.
Pounds.
2,236
49,026
60 1,680,666
Pounds.
84, 325
277, 472
1, 685, 595
2, 776, 994
4, 621,784
69, 018
14, 321
358, 459
10, 022
7,991
1, 088, 499
46,426
272, 981
6,165, 933 279, 055
49,469
19, 504
4, 082, 863
5, 202
4, 754, 539 60, 844
3, 207, 7112, 208,147
6, 761, 097 201,265
6, 474, 397 48, 861
34, 388
2, 798, 364
1, 271, 038 859, 700
60,164
11, 324,716
60, 905
379,199
45, 308
13, 937, 375
2, 044, 612
6, 606, 064
596, 693
6, 290, 374
5, 202
26, 616, 411
27,004,702
16,186, 800
17, 048, 358
10, 334, 2.52
2.175,495
9, 075
^ 25, 352
1,164,156
400,211
4,153, 866
9,075
807, 219
46, 317, 380
407,160
4,995,668
"""'20,"740"
35, 286
11, 502,166
527, 580
61, 381
21, 432, 219
19, 028, 457
5, 379, 412
10, 525,100
5, 950,085
2,671
749,383
45,129, 962
6,949
10,892
Snuff
made.
T o t a l toTobacco
Unsold,
on h a n d bacco to b e
J a n u a r y ! , a c c o u n t e d J a n u a r y 1,
1884.
1883.
for.
T o t a l made.
1, 338, 719
1, 725, 205
161,076
140
2,146,130
368, 809
2, 560, 387
3, 845, 026
1, 551, 415
42,086
827,662
957 124, 620, 615 17, 364, 389 47,710, t
32, 484
23, 262
3,248
5, 604, 824195,300,524
Pounds.
29, 898
328, 506
84,438
606
30, 003
876,001
12, 366
21, 384
15,320
712, 737
270, 372
458, 706
4,043
10,709
1,889,409
24, 246
161, 916
4,407,506
492, 514
107,334
15, 494
135
425, 272
9, 074, 507
44, 200
37,442
Pounds.
115, 223
605, 976
1, 770, 033
606
98, 948
12,180, 717
73, 281
400, 583
60, 628
14, 650,112
2, 314, 984
7, 064, 770
600,736
6, 301, 083
5,202
28, 505, 810
27,028,929
16, 348. 716
21, 455, 861
10, 826, 766
2, 292, 829
15,494
9,210
1,232,490
55, 239, 837
447,360
5, 033,110
Exported.
Sold.
Stamps
required.
Pounds.
Value.
Pounds.
Pounds.
29, 747
690
$7, 238 74
83, 786
3,
343
251,765
31,490 26
350, 870
49, 858 .........^„ 1, 720,175
175, 061 12
Pi
216
50
8 00
• 57, 708
41,240
3,454 16
633, 448
6, 604 11, 540, 665 1,106,789 16
263
12, 911
60, 367
5, 684 20
pi
472
- 13,094
387, 017
36,362 00
29, 238
31, 390
3, 056 16
918, 089
4,773 13, 727, 249 1, 259, 844 23
O
136, 525
307, 628 1, 870, 831
194, 970 98
297, 094
6, 767, 676
581, 580 41
4,340
11,623
584, 773
52, 966 51 •H
398
6,511
6,294,174
591,113 37
1,150
4,052
367 92
2,187, 061
139, 061 26,179, 698 2, 502, 023 37
72, 914
105, 057 26, 850, 978 2,805,565 18
l-H
171,183
697, 233 15, 480, 300 1. 536,435 05
5, 111, 247
76,106 16, 268, 511 1, 505, 577 72
601, 580
70 10,225,116
961, 322 47
116,0.50
277, 996 2,898, 783
314, 911 40
1,943
13, 551
1,504 24
9,210
817 68
m
482,202
1,610
748,678
69,806 27
9,707,026
7, 915, 774 37, 952, 034 3, 521, 989 80
58, 738
388,622
36,008 54
35, 955
470,728 53
11 4, 997,144
19, 535, 064214, 679, 297 20, 981,480
o
o
9, 555,165 185, 476, 940 17, 767, 677 47
^
COMMISSIONER OF INTERxVAL REVENUE.
103
•' • DIEECT TAX.
CLAIMS FOR
SURPLUS.
The act of March 3, 1883 (22 Stat., 595), authorized the Secretary of
the Treasury to cause to be audited by the proper accounting ofi&cers'
of the Treasury and paid the claims of the original owners of lands
which were sold for non-payment of United States direct taxes, for the
surplus proceeds of the same, under section 36 of the act of August 5,
1861, as interpreted by the Supreme Court in United States v. Taylor (104 United States Eeports, 216), and for such purpose the sum of
$190,000, or so much thereof as might be necessary, was appropriated.
The whole number of claims which have been presented under this act
is 308, representing 380 pieces of property.
Thirty-nine of these claims have been allowed and paid; 190 have
been examined and disposed of, so far as this ofifice is concerned. ,
Number on hand July 1, 1884, 118.
The total amount paid in settlement of these claims to July 1, 1884,
was $23,330.21, leaving on that date $166,669.79 of the appropriation
still available.
CLAIMS FOR PURCHASE MONEY.
The number of claims for payment to purchasers at direct tax sales
on, account of eviction under the act of May 9, 1872: Examined and
acted upon, 6; number on hand July 1, 1884, 13.
INTEREST CLAIMS.
i>rumber of claims filed under section 4 of the act of February 25,
1867, for refund of interest alleged to have been illegally collected, 289.
Action upon these claims has been suspended awaiting a decision of
the Court of Claims in the test case of J. H. Simons v. United States.
(Int. Eev. E e c , vol. 30, p. 241.)
Totarnumber of letters received, 773; total number of letters written,
1,016.
EEBATE, ABATEMEN»T, AND E E F U N D I N O CLAIMS.
• >
1.—EEBATE CLAIMS.
On the 1st day of July, 1883. there were pending 13,155 claims for
rebate, amounting to $1,259,578.30. During the fiscal year there were
presented 31,753 more, amounting to $2,227,043.82.
Of these, 44,818, amounting to $3,483,061.26, havebeen allowed, and
75, amounting to $2,353.31, have been rejected, leaving pending and undisposed of 15 claims, amounting to $1,207.55. Of the $3,750,000 appropriated by Congress on the 14th day of February, 1884, to pay these
claims, $212,461.55 remains unexpended, and not much more of it will
probably be needed, as most of the pendirig claims will probably be
rejected.
104
REPORT ON T H E FINAT7CES.
, 2.—ABATEMENT CLAIMS.
On the 1st day of July, 1883, there were pending 633 claims for abatement of taxes assessed, amounting to $675,782.54, and during the year
1,931 other claims, amounting to $1,019,742.19, were presented. Of
these, 1,384 claims, amounting to $1,063,785.50, have been allowed by
this of&ce, and 902, amounting to $333,469.59, have been rejected or
returned for amendment.
This left 278 claims for abatement still pending on the 30th of June
last, amounting to $87,075.29. Since that date and up to the 1st instant
1,359 other claims have been filed, amounting to $1,711,200.37, 1,101'
have been allowed, amounting to $r,388,605.37, and 313 rejected or returned for amendment, amounting to $198,601.90, and on the 1st day
of October, 1884, 223 claims for abatement were pending, amounting to
$123,993.10.
3.—EEFUNDING CLAIMS.
On the first day of July, 1883, there were pending 442 claims for the
refunding of taxes collected, amounting to $602,816.55, and during the
year 217 other claims, amounting to $83,247.27, were presented.
Of these, 97 claims, amounting to $50,150.12, have been allowed by
this office, and 83 claims, amounting to $47,135,45, have been rejected
or returned for amendment.
This left 479 claims for refanding still pending on the 30th of June
last, amounting to $588,778.25. Since that date, and up to the 1st
instant, 62 other claims have been filed, amounting to $7,348.38, 59
have been allowed, amounting to $27,651.65, and 63 rejected or returned
for amendment, amounting to $27,827.15, and on the 1st day of October,
1884, 419 claims for refunding were pending, amounting to $540,647.83
STATEMENT of SALES of BEAL P B O P E B T Y ACQUIBED under the INTEBNAL
B E V E N U E LAWS, of which ihe PUBCHASEBS BECEIVED QUIT CLAIM D E E D S
from tie UNITED STATES, during the fiseal year 1883-^84.
Date of sale.
July
When
acquired.
5,1883 Oct.
From whom acquired.
2,1867 Jos. De Bord
Oct. 22,1883 Mar. 15,1867
Oct. 25,1883 Aug. 4,1873
Peb. 18,1884 Mar. 29,1882
Mar. 11,1884 Jan. 3,1872
Mar. 29,1884 Dec. 20,1869
Apr. 12,1884 Feb. 8,1872
Apr. 21,1884 Nov. 19,1879
Amount
sold for.
50 acres land on Laurel Creek, Law$50 CO
rence Countv, Kentucky.
15 lots in the city of Pekin, 111
1, 008 75
Lot 2 in block 96 in the city of Pekin,
13 75
111.
1 lot in the city of Atlanta, Ga
51 00
213 00
do
..
...
14 acres land in Logan County, Ken25 00
tucky.
Speck & G-entry
.. W. i of SE. i, and part of S W. i of the
150 00
NE. J, section 16, township 30, range
10, and E . i of NW., section 21, township 30. range 10, Texas County,
Missouri.
W.M. Springer
Part of SE. J of S W. i section 28, town- 4, 852 30
ship 16 north, range 5 west, Springfield, 111.
^
'
"
Eobert G-. Gilmer
18 lots and 2 half lots in Missouri City,
400 00
and 3 parcels (25| acres land), all ih
Clay County, Missouri.
Julius Heberlein
1 lot in Morrisania, New York City... ' 300 00
Lots 7 and 8, block 5, Pleasant Plains,
85 00
Heirs of Geo. Becker..
ni.
25 00
100 acres in 9th civil district, Hancock '
J. and I. Livingston...
County, Tennessee.
96 76
500 acres 15 miles southeast of ClarksBlack & Williams
ville, Tenn.
125 00
Lot in Sioux City, Iowa , . . . .
Samuel Rindskopf —
7, 395 56
Total
Aug. 4,1883 Aug. 19,1876 C. J . D . Rupert
Aug. 4,1883 July 19,1875 William T. Edds
Sept. 27,1883 Aug. 30,1876 W.L. Thrasher
Sept. 27,1883 Aug. 30,1876
do
Oct. 10,1883 Mar. 11,1872 J. W. Bowling & C o - . .
J u l y 27,1883 Nov. 15,1880
Realty sold and where situated.
COMMISSIONER OF INTERNAL
105
REVENUE.
DISTILLED SPIEITS.
D I S T I L L E R I E S REGMSTERED AND OPERATED.
The following sfatement shows the number of distilleries registered
and operated during the fiscal year ended June 30, 1884:
Grain.
Molasses.
F r ait.
S
'6
states and Territories.
1
CO
:
i
•
4
20
4
1
55
1
18
16
1
1
335
21
1
29
1
42
1
17
16
4
415
1
28
87
27
83
6
42
6
7
39
6
6
;....
1,291
1,078
6-
1
1
7
.
7
1
o
H
S
o
239
64
57
43
7
239
64
57
47
28
243
65
57
47
27
243
65
57
134
134
22
50
2
3
380
10
10
62
22
48
2
3
380
9
10
62
2
84
2
66
1,005
,
3
24
23
7
204
7
6
1,021
121
2
82
2
66
1,005
3
24
23
,7
204
7
6
1,021
121
189
1
40
66
3
4
.715
31
17
91
1
3
85
2
'^l
1,459
4
61
117
34
306
13
6
1,063
127
7
176
1
39
64
3
4
605
26
17
86
1
3
83
2
70
1, 420
4
52
110
34
287
13
6
1,060
127
6
3,658
3,653
4,956
4,738
43
6
o
1
• 1
o
.
'1
225
17
1
24
1
1
5
454
1
37
94
27
102
6
° .
Total
CD
4
21
4
1
1
%
•1
o
ft
O
©
..
•
ift
'So
TO
I
"Sc
Alabama
A rkansas
C alifornia
Connecticut
Delaware.
Florida
Georgia
Idaho
Illinois
Indiana.
Iowa
'..
Kansas
Kentucky
Maryland
MassucLiusetts
Missouri
Nebraska
NewHampshire
New Jersey
N e w Mexico
New York
N o r t h Carolina
Oregon
Ohio
Pennsvlvania.
South Carolina
Tennessee .
Texas
Verniont
Virginia
W e s t Virginia
Wisconsin
i
CO
1
•
CO
•
CAPACITY, ETC., OF GRAIN DISTILLERIES.
The following statement shows the number and capacity of grain distilleries in operation and of grain distilleries closed in twenty ^vmcipal spirit-producing districts at the beginning of each month duririg
the fiscal year ended June 30,1884, and the three succeeding months of
\ he present fiscal year.
N u m b e r of distilleries.
Months.
C a p a c i t y in u s e of
d i s t i l l e r i e s operating.
Operating.
Closed.
1883.
July
Augu'st
September
October
November
December
103
86
90
96
1.1
141
251
2"7
272
262
256
237
Bushels.
28,471
36, 991
52, 245
52, 372
58, 096
64, 063
1884.
January
February .. .
March
Apr"J
May
d une
J u l y -.Auou«„
September
164
168
187
2.0
2.2
154
J?0
61
"1
209
202
194
175
134
183
206
288
281
64, 741
64, 224
63, 779
70, 334
65, 085
50, 331
20,307
28, 974
42, 996
.
Surveyed capacity
ot distilleries
operating.
Gallons. Bushels.
114,325
72, 983
147, 233
89, 836
218, 074
77, 383
208, 572
91, 864
88, 264
. 229, 891
102, 536
252, 089
255, 493
252,128
255, 617
276. 706
258, 269
208, 057
119,797
115,374
170, 556
106, 798
105, 599
104, 881
108, 562
110, 464
98, 075
71,189
62, 633
78, 092
Surveyed capacity
of d i s t i l l e r i e s
closed.
Gallons. Bushels.
286, 277
92, 063
338, 521
48,408
345, 734
43, 902
366, 234
40, 821
351, 983
37,126
414. 290
32,191
425, 504
418, 461
414, 955
449, 843
435, 746
389, 061
282,197
254, 414
311, 856
28, 353
26, 573
25,176
23, 827
15, 364
27, 530
42, 992
62,113
51,212
Gallons.
224, 977
175, 009
162, 629
148, 382
135,416
116,267
101, 866
95, 540
92, 375
59,379
56, 085
102, .508
200, 956
235, 032
193, 999
106
REPORT
ON
THE
FINANCES.
The following statement shows the number and capacity of grain and
molasses distilleries in operation at the beginning of each month during
the fiscal year ended June 30,1884, and the first three months of the.
presentfiscalye^r:
N u m b e r of distilleries.
C a p a c i t y of g r a i n
distilleries.
Grain.
Grain.
Months.
July . . . . . .
August...
September
October . . .
November.
December.
January...
February .
March . . . .
April
May
June
J^ly
August . . .
September
535
398
387
405
480
575
613
606
671
628
605
513
382
297
294
GRAIN AND MOLASSES
Molasses.
7
7
7
7
7
7
7
7
7
8
8
7
8
8
8
Spirits.
Bushels.
43,174
40.727
56, 859
57, 420
65, 597
•73, 868
76, 592
77, 695
83, 057
81, 954
70, 820
56, 923
38, 499
34, 500
47, 855
DISTILLERIES
IN
C a p a c i t y of molasTotal spiritses d i s t i l l e r i e s .
producing
capacity
per day.
Molasses. Spirits.
Gallons. Gallons.
166,143
•5,480
158, 502
6,287
224,107
, 8, 721
223, 965
7,029
257. 994
6,457
* 289, 469
8,423
299, 653
8,597
304,164
5,392
322, 962
7,449
3U8,'008
7,960
274, 500
6,346
220, 886
9,143
150, 617
9,341
135, 624
10, 028
189, 308
8,814
OPERATION
Gallons.
4, 659
5, 345
6,818
5,976
5,487
7,161
7,307
5,180
6,331
6,766
5,394
7,772
7,943
8,526
7, 424
Gallons.
170, 802
163, 847
230, 925
229, 941
263,481
29U, 630
306, 960
309, 344
329, 293
314, 774
279, 894
228, 65&
158, 560
'
144,150
196, 732
SEPTEMBER
1,
"1880, 1881, 1882, 1883, and 1884.
COMPABATIVE S T A T E M E N T showing the N U M B E B and C A P A C I T Y of G B A I N
and MOLASSES D I S T I L L E B I E S in O P E B A T I O N on the 1st day of September m
each of the years 1880 to 18»4j inclusive.
N u m b e r of distilleries.
C a p a c i t y of g r a i n
distilleries.
Grain.
Grain.
Date.
Molasses.
C a p a c i t y of molasTotal spiritses d i s t i l l e r i e s .
producing
Spirits. Molasses.
Spirits.
p e r day.
0
Septeraber
September
September
September
September
1, 1880 . .
1, 1881
1, 1882
1, 1883
1, 1884
....
372
298
198
387
294
6
5
7
7
8
Bushels.
69, 013
70,193
57, 755
56, 859
47, 855
Gallons.
275, 364
272, 806
227,973
224,107
189, 308
'Gallons.
8, 899
8, 573
10, 426
8,721
8, 814
GaUons.
7,564
7,287
8, 861
6,818
7,424
Gallons.
282, 928
280, 093
236, 834
230, 925
196, 732
The ^total number of grain distilleries registered during the fiscal year
ended June 30, 1884, was 1,291, of which number only 1,078 were operated. The numbers registered and operated in the fiscal year ended
June 30, 1883, were 1,250 and. 1,096, respectively, showing an increase
during the last fiscal year of 41 in the number registered and a decrease
of 18 in the number operated.
The increase in the number registered occurs, as was the case in the
preceding fiscal year, in the class of distilleries having the smaller
capacities for the production of spirits.
In the class of larger distilleries a very decided reduction occurs both
in the number registered and the number operated.
During the fiscal year ended June 30, 1883, 969 of the smaller distilleries were registered, of which number 875, or 90 per cent., were
operated; while of the larger distilleries, 281 were registered, and 221,
or 78 per cent., were operated.
During the fiscal year ended June 30, 1884, 1,052 distilleries of the
smaller class, whose daily capacities for the use of grain vary from not
over 5 bushels to not over.60 bushels, were registered, and of this
number 905, or 86 per cent., were operated.
COMMISSIONER OF INTERNAL
REVENUE.
107
Of the larger distilleries, whose daily capacities vary from not less
than 60 bushels of grain to 500 bushels, and from that to near 6,000
bushels, 239 were registered, and 173, or 72 per cent., were operated.
The increase (83) in the number of small distilleries registered was
not attended by a corresponding increase in the number operated, only
30 more of this class having been operated than in the previous year.
The decrease (42) in the number of large distilleries registered was
accompanied by a still larger diminution (48) in the number operated.
The quantity of grain used in the production of spirits during the
past fiscal year, 18,927,982 bushels, is an increase of 283,195 bushels
above the amount used in the preceding fiscal year (18,644,787 bushels),
but is 5,137,897 bushels less than the average (24,065,879 bushels) for
the last Uve years.
A corresponding increase appears in the number of gallons of spirits
produced from grain during the year, 73,724,581 gallons, which is an
excess of 1,489,406 gallons over the product (72,235,175 gallons) for t h e
year ended June 30, 1883.
The yield of spirits from each bushel of grain varies but little from
that of the preceding year, but still increases slightly, being 3.895
gallons. The yield for the two preceding years was 3.874 for 1883, and
3.792 for the year 1882.
The quantity of molasses used for the production of rum during the
fiscal year is 2,259,536 gallons, a decrease of 113,570 gallons from the
quantity used in the year previous (2,373,106 gallons), and a decrease
of 255,452 gallons from the average quantity (2,514,988 gallons) used
during the last five years.
The quantity of rum distilled from molasses is 1,711,158 gallons, a
decrease of 90,802 gallons from the product of the year ,1883, and a de>
crease of 204,674 gallons from the average product of the last five years
DECREASE OF SPIRITS IN VV^AREHOUSE.
From the following comparative statement of spirits of the difi'erent
kinds known to the trade, remaining in warehouse at the clo^e of the
fiscal years 1883 and 1884, it will be seen that while there was an increase in the stockof alcohol, gin, high wines, and pure spirits held
in bond June 30, 1884, over the quantity so held June 30, 1883, of
753,252 gallons, there was.an actual decrease in other grades of spirits(principally in bourbon and rye whiskies) of 17,750,694 gaUons, or a net
decrease of 16,997,442 gallons. Of the spirits held in bond June 30^
1884, nearly two-thirds was bourbon whisky:
K i n d s of s p i r i t s .
Bourbon whisky
Rye whisky
Alcohol
Rum
Gin
High wines
P u r e or cologne s p i r i t s
Miscellaneous
Total
Less increase
N e t decrease
..
:....
I n warehouse
J u n e 30,1883.
I n warehouse
J u n e 30,1884.
Gallons.
55, 837,112
17, 897, 295
229, 523
512, 892
72, 702
207, 969
1, 062, 401
4,680,099
Gallons.
41,177, 059
15, 005, 057
- 393,409
487, 236
93, 367
411, 071
1,428, 000
4, 507, 352
80, 499, 993
63, 502, 551
I n c r e a s e over. D e c r e a s e from
1883.
1883.
14, 660, 053:
2, 892, 23&
163,886
25, 656.
20. 665
203,102
365, 599
172, 747
753, 252
17, 750, 694
753, 25^
16, 997,442-
108
REPORT OJST T H E
FINANCES.
INCREASED PRODUCTION OF S P I R I T S .
The quantity of spirits (75,435,739 gallons) produced and deposited
in distillery warehouses during the fiscal year ended June 30, 1884, is
greater than the production (74,013,308 gallons) of the year 1883 by
1,422,431 gallons.^
This increase is distributed among the different kinds known to the
trade as follows:
. ,,
Increase in production of—
Gallons.
Bourbou whisky
Rye wliisky
Alcoliol
Gin
Pure, neutral, or cologne spirits
Miscellaneous
,
234, 587
305,304
1,666,523
95,956
243,427
923, 699
•
Totalincrease
, . . . . 3,469,496
Decrease in production of—
Gallons.
Rum
90,802
High wines
1,956,263
Total
..-,
2,047,065
Net increase
1,422,431
*
#
#
#
#
#
#
^
INCREASED TAX-PAID WITHDRAWALS OF S P I R I T S .
The quantity of spirits (78,342,474 gallons) withdrawn from distillery
warehouses during the fiscal year ended June 30, 1884, is greater than
the quantity withdrawn (75,441,087 gallons) during the year 1883, by
2,901,387 gallons.
This increase is distributed among the different kinds known to the
trade as follows:
Gallons.
Increase in withdrawal of^—
Bourbon whisky
Rye w h i s k y . .
Alcohol
Gin
• Miscellaneous
,
3,718,356
905,515
438,833
57,780
341, 844
„
Totalincrease
5,462,328
Gallons.
Decrease in withdrawals of—
Rum....
High wines
Pure, neutral, or cologne spirits
72,796
2,274,808
213,337
Total
2,560,941
Net increase
#
:
.
#
'
#
#
•
#
#
2,901, 387
#
COMMISSIONER OF INTERNAL
109
REVENUE.
DISTILLED SPIRITS ALLOWED FOR LOSS BY LEAKAGE OR EVAPORATION IN WAREHOUSES.
The quantity of spirits, 3,858,494 gallons, reported in the preceding
table as lost by leakage or evaporation in warehouse, is that portion of
the actual leakage in warehouse from packages withdrawn during the
year, which has been allowed in accordance with the provisions of section 17 of the act of May 28,1880.
The following statement shows the quantity of spirits, as per original gauge, withdrawn from warehouse for all purposes during the
stated period, and the amount and percentage of leakage allowed
thereon under the provisions of the act named.
.
Tear.
1880
1881
1882
1883
1884
<..
.
.'
•
Total quantity withdrawn.
Gallons.
78,199, 283
84, 335, 900
80, 281, 611
83,291,190
92, 022, 593
Leakage
allowed.
Percentage
of w i t h drawals.
Gallons.
75, 834
811,466
1, 231, 336
2,291,013
, 3,858,494
.096
.962
1.533
2.750
4.193
The maximum allowance fixed by the act above named, on account
of leakage in warehouse during the full bouded period of three years,
is seven and one-half gallons to each package of not less than forty
wine gallons' capacity, or 18.75 per cent, of that capacity. On this,
basis the average bonded period for all classes of spirits withdrawn,
from warehouse during the year 1884 w^ould represent about nine
months, or one-fourth ofthe full bonded period authorized by law.
A large percentage of such withdrawals, however, are made up of
high-proof spirits, such as alcohol and high wines, which are held in
bond only for a limited period of time, and on which, in many cases, noleakage whatever is claimed. On the other hand spirits, such as bourbon and rye whiskies, are in a majority of cases held in warehouse for
the full bonded period, and the large increase in the ainount of leakage
allowed during the years 1883 and 1884 over previous years is due to
the proportionally large increased withdrawals of this latter class of
spirits.
DISTILLED SPIRITS LOST BY CASUALTY DURING THE YEAR.
The quantity of spirits, 410,588 gallons, reported in the table on page
85 as lost by casualty in distillery warehouses during the year ended
June 30, 1884, is 225,818 gallous more than the quautity so lost during
the next preceding year, or one gallon out of every three hundred and
seventy-nine gallons held on deposit in such warehouses during the
year.
I t also appears that the greater part, 330,673 gallons out of 410,588
gallons, was lost through one casualty by fire, which occurred at a
warehouse in the twenty-second district of Pennsylvania.
LIO
REPORT
ON T H E
FINANCES.
S P I R I T S WITHDRAWN FROM W A R E H O U S E S FOR SCIENTIFIC P U R P O S E S
AND FOR T H E USE OF T H E UNITED STATES.
The quantity of alcohol withdrawn free of tax from distillery warehouses for the use of colleges and other institutions of learning in the
preservation of specimens of natural history in their several museums,
and for use in their chemical laboratories, and of spirits of various kinds
for the use of the United States, amounted during the year to 20,837
gallons, or 7,888 gallons less than the quantity withdrawn during the
previous year.
T R A N S F E R S OF S P I R I T S FROM D I S T I L L E R Y WAREHOUSES TO MANUFACTURING W A R E H O U S E S .
The quantity of spirits transferred to manufacturing warehouses during the year was 214,050 gallons, or 10,112 gallons more than the quantity witbdrawn for transfer to such warehouses duriug the fiscal year
1883. The iucrease occurred mainly as to pure spirits.
S T A T E M E N T of the AGGBEGATE QUANTITY, in TAXABLE GALLONS, of DIST I L L E D S P I B I T S of the D I F F E B E N T K I N D S KNOWN to the TBADE, PBODUCED, WITHDBAWN, and B E M A I N I N G in WABEHOUSE in the UNITED
STATES, for the,fiscal year ended June 30, 1884.
Bourbon
whisky.
DR.
1. Remaining in warehouse July 1,1883
2. Produced and bonded during the year
Total
Gallons.
55, 837,112
8,896,832
Rye
whisky.
Alcohol.
Rum.
Gin.
GaUons.
Gallons.
GaUons. Gallo7is.
17, 897, 295
229, 523
512, 892 72,702
5, 089, 958 12, 385, 229 1, 711,158 641,724
64, 733, 944 22, 987, 263 12, 614,752
2, 224, 050
714, 426
..CR.
Withdrawn on payment of tax during
the year
17, 492, 895 5, 973, 855
Lost by leakage or evaporation in warehonse
:
2, 649, 758
962, 648
Withdrawn for export during the year
3, 401, 410
710, 858
Withdrawn for scientific purposes
2,318
161
Withdrawn for transfer to manufacturing
warehouse
1,640
1,813
8,864
Lost by casualty, &c., during the year
332, 861
41,177, 059 15, 005, 057
Remaining in warehouse June 30,1884:
{
4.
5.
6.
7.
8.
Total
8, 000, 004
DR.
Total.
:
Withdrawn on payment of tax during
the year
Lost by leakage or evaporation in warehouse
Withdrawn for export during the year
Withdrawn for scientific purposes
Withdrawn for transfer to manufacturing
warehouse
Lost by casualty, &c., during the year
Remaining in warehouse June 30,1884
17, 094
664, 942
49, 066
55, 386
393, 409
64, 733, 944 22, 987, 253 12, 614, 752
1. Remaining in warehouse July 1,1883..
2. P reduced an d bonded during the year.
1, 054, 363 618, 619
1,925
4.100, 791
14,171
1,105
1,335
415
487, 236
93, 367
2, 224, 050 714, 426
High wines.
Pure, neutral,
or cologne
spirits.
Gallons.
207,969
6, 745, 688
GaUons.
1, 062,401
28, 538, 680
KOallons.
4, 680, 099
11, 426,470
Gallons.
80, 499, 993
75, 435, 739
6, 953, 657
29, 601, 081
16,106, 569
155, 935, 732
6, 528, 654
Miscellaneous.
Totalnumber
of gallons.
CR.
Total.
27, 395, 849
11, 278, 235
78, 342, 474
-7,409
6,485
17, 806
595, 342
4,187
200, 749
105, 575
3, 858,494
9, 586, 738
20, 837
159, 897
411, 071
1, 428, 000
1,219
13, 439
4, 507, 352
214, 050
410, 588
63, 502, 551
6, 953, 657
29, 601, 081
16,106, 569
155, 935, 732
COMMISSIONER OF INTERNAL
Ill
REVENUE.
SUMMARY OF OPERATIONS AT D I S T I L L E R Y WAREHOUSES FOR T H E
YEAR ENDED J U N E 3 0 , 1 8 8 4 .
The following table shows the quantity of distilled spirits in taxable
gallons, at 90 cents per gallon tax, placed in distillery warehouses
during the fiscal year ended June 30, 1884, the quantity withdrawn
therefrom during the year, and the quantity remaining therein at the
beginning and close of the year:
Distilled spirits—
Quantity.
Total.
80, 499, 993
449, 606
6, 235, 474
A c t u a l l y r e r a a i n i n g i n w a r e h o u s e J u l y 1, 1883
i
N o t actually in warehouse, claimed t o h a v e been lost b y casualty
W i t h d r a w n for t r a n s f e r t o m a n u f a c t u r i n g w a r e h o u s e , n o t y e t r e c e i v e d
at warehouse
41,697
•87, 226, 770
75, 435, 739
P r o d u c e d from J u l y 1 1883 t o J u n e 30 1884
Total
'
162,662,509
W i t h d r a w n t a x - p a i d ( i n c l u d i n g deficiencies on e x p o r t b o n d s a n d c a s u a l t i e s
disallowed)
E x p o r t e d p r o o f s of landino" r e c e i v e d
.
. . . . . . .
A l l o w e d for loss b y c a s u a l t y .
..
W i t h d r a w n for scientific p u r p o s e s a n d for t h e u s e of t h e U n i t e d S t a t e s . .
A l l o w e d for loss b y leakao^e o r e v a p o r a t i o n in w a r e h o u s e
A l l o w e d for loss b y l e a k a g e in t r a u s p o r t a t i o n for e x p o r t , Sec
W i t h d r a w n for t r a n s f e r t o , a n d r e c e i v e d at, m a n u f a c t u r i n g w a r e h o u s e . . .
78, 366, 625
5, 633, 964
589, 789
20, 837
3, 858, 594
36, 858
170, 238
88, 676, 905
W i t h d r a w n for e x p o r t a t i o n , proofs of l a n d i n g n o t r e c e i v e d
W i t h d r a w n for t r a n s f e r t o m a n u f a c t u r i n g w a r e h o u s e , n o t r e c e i v e d a t
warehouse
.
N o t a c t u a l l y i n w a r e h o u s e , claiined t o h a v e b e e n lost b y c a s u a l t y
A c t u a l l y r e m a i n i n g in w a r e h o u s e J u n e 30, 1884
10,148, 599
85,137
249, 317
63, 502, 551
73, 985, 604
Total
162, 662, 509
STOCK ON HAND, PRODUCTION, AND MOYEMENT OF SPIRITS FOR FIVE
YEARS.
The following table shows the stock on hand, production, and, movement of spirits for the fiscal years 1880,1881,1882, 1883, and 1884;
Quantity of spirits actually in warehouses beginning of fiscal year
Quantity of spirits produced during fiscal year
Total.
1880.
1881.
1882.
1883.
GdUojis.
Gallons.
Gallons.
GaUons.
19, 212, 470 31, 363, 869 64, 648, 111 89,962, 645
Quantity of spirits remaining iu warehouses at end of fiscal year
• Scientific^
Transfers
Casualties
Total.
Gallons..
80, 499, 993
90, 355, 270117, 728,150 105, 853,161 74, 013, 308 75,435,73 9
109, 567, 740 149, 092, 019 170, 501, 272163,975, 953 155, 935, 732
Quantity of spirits withdrawn tax-paid,
61,100, 362 67, 372, 575 70, 730,180 75,441,087
during fiscal year
Quantity of spirits withdrawn for ex16, 765, 668 15, 921, 482 8, 092, 725 5, 326, 427
portation during fiscal year
Quantity of spirits withdrawn for scien, tific purposes, for use of United States,
for transfer to manufacturing warehouse, destroyed by fire, allowed for
337, 843 1,149, 851 1, 715, 722 2, 708, 446
loss by leakage in warehouses, &c
Total...-
1884.
78, 342, 474
9, 586, 738
*4, 503, 969
78, 203, 871 84, 443, 908 80, 538, 627 83, 475, 96t)
92, 433,181
31 363, 869
63, 502, 551
2,645
80, 499, 993
-.
20, 837
214, 050
410, 588
3,858,494
"4,503,9
112
REPORT
SPIRITS
REMAINlNO
ON
THE
IN WAREHOUSES
FINANCES.
AT T H E CLOSE
OF T H E YEARo
The following table shows the quantity remaining in distillery warehouses at tlie close ofeach ofthe sixteen fiscal years during which spirits
have been stored iu such warehouses:
Date.
Quantity.
Kemaining J u n e 30,1869
Kemaining J u n e 30,1870
Kemaining June ^30, 1871
Kemaininc J u n e 30 1872=
Remainino" J u n e 30,1873
Kemaining J u n e 30,1874
Kemaining J u n e 30 1875
Kemaining June 30,1876
COMPARATIVE
NOVEMBER
....
STATEMENT
Date.
Gallons.
16,685.166
Kemaiuiuf J u n e
11, 671, 886
6, 744, 360
Kemainiu'j'June
10,103, 392
Kemainino" J u n e
14, 650, 148 j Remaininc^ J u n e
15, 575, 224
Kemaining J u n e
13,179, 596
Kemainiu"" J u n e
12,595,850
Kemaining J u n e
OF S P I R I T S
1, 1 8 8 1 , NOVEMBER
1,
Quantity.
Gallons.
13, 091, 773
14, 088, 773
19, 212. 470
31,- 363, 86^
64, 648, 111
89, 962, 645
80, 499, 993
63, 502, 551
30 1877
30 1879
30 1880
30 1881
30,1882 .
30 1883
30 1884
IN D I S T I L L E R Y W A R E H O U S E S
1 8 8 2 , OCTOBER
1,
1 8 8 3 , AND OC-
TOBER 1 , 1 8 8 4 .
Following is a stateinent of the quantities of spirits remaining in
distillery warehouses November 1, 1881, November 1, 1882, October 1,
1883, and October 1, 1884:
Gallons.
states.
1881.
Alabama
Arkansas
California
Colorado
Connecticut
Greorgia.
Idaho.....
I l l i n o i s .'.
Indiana
Iowa
Kansas
Kentucky
Maryland
Massacbusetts,...
Montana
Missouri
Nebraska
ISTew H a m p s h i r e .
New Jersey
New York
N o r t h Carolina . .
Ohio
Orego n
Pennsylvania
Sonth Carolina...
Tennessee
Texas
Virginia
W e s t Virginia . . .
Wisconsin
Total .
1882.
1884.
5,942
14, 253
222, 382
2,388
25, 956
22, 676
5,508
905, 020
879, 907
4,756
28, 319
644, 660
723, 706
446, 254
1,240
8,134
332. 918
3,134
20, 326
260,148
2,400
40,422
124,184
15, 394
12, 020
6,894
2,194, 383
1, 664, 021
24, 475
34, 067
59, 600, 469
4, 021, 007
471, 317
6.866
62, 254
13, 54a
39, 220'
206.612
198, 284
29, 712
187, 654
281, 025
337,183
247, 868
162, 457
19.5, 203
31, 490
191, 978
345, 066
88, 409
3, 088, 969
683, 851
5,677
438, 385
8,493
179,107
854,913
51, 095
9, 464, 256
2,587
1, 362, 493
6,434
191, 039
981, 881
129, 730
1,174, 012
1, 235, 690
.19, 038
21, 688
52, 219,174
3, 349, 798
493, 205
131
195, 316
164, 322
32, 407
142,126
242, 470
154,151
2, 758, 831
2, 022
8, 056, 339
12, 532
1, 527, 574
6,340
224,130
857, 485
163, 852
1, 535. 527
968; 910
81, 892
11, 020^
35, 351, 017
2, 647,133
542,832
2, 796.
262, 349
130, 942"
31, 282
187,170:
302,127
189,362
^2, 098,105
8,383
6, 723,169'
17,262
1, 408, 658
7,033
248, 951
667,972.
167, 56a
67, 442,186
84, 628, 331
73, 405, 361
53, 811, 284
* E s t i m a t e d a s t o s i x t h d i s t r i c t of Ohio.
DISTILLED
S P I R I T S IN T H E
UNITED
STATES
OCTOBER
1,
1884.
The quantity of distilled spirits in the United States, except what
may be in customs bonded warehouses, on the I s t day of October,,
COMMISSIONER OF INTERNAL REVENUE.
113
1884, was nearly 97,000,000 gallons, this quantity being distributed as
follows:
Gallons.
In distillery aud special bonded warehouses
In hands of wholesale liquor dealers
In hands of retail liquor dealers
54,136,115
15,664,206
27,010,200
,.
Total
96,810,521
In making the above computation the average stock of each retail
liquor dealer in the United States is estimated at 150 gallons.
OPERATIONS AT SPECIAL BONDED WAREHOUSES FOR STORAGE
GRAPE BRANDY.
OF
The following statement shows the quantity of grape brandy placed
in special bonded warehouses, withdrawn therefrom, and remaining
therein at the beginning and close of the fiscal year ended June 30,
1884, in taxable gallons:
Remaining in warehouse July 1, 1883:
First district of California
Fourth district of California
Gallons. Gallons. Gallons.
241,289 ,
200,290
441,579
Removed for exportation and unaccounted for July 1, 1883:
•
/ Fourth district of California .^
163
—
441,742
Produced and honded during the year:
Produced and warehoused in first district
'
99, 312
Produced in fourth and warehoused in first district.
24,978
124,290
Produced and warehoused in fourth district
76,,442
200,732
Transferred from warehouses in fourth district to warehouses in first
district
.•
i
....
76,362
.
Exported and accounted for during the year :
First district of California
^
Fourth district of California
718,836
88
244
:
—
Removed to manufacturing warehouse:
First district of California
Removed tax-paid during the year :
First district of California
Fourth district of California
1,287
167, 317
75,043
:
Loss by regauge act of May 28, 1880:
First district of California
Fourth district of California
332
242,360
9,364
6,482
15,846
Withdrawn by seizure :
F i r s t district of California
39
258,245
Transferred from warehouses in fourth district to warehouses in first
district
Removed for exportation and remaining unaccounted for J u n e 30,1884:
First district of California
Rernaining in Avarehouse J u n e 30, 1884:
First district of California
263,578
Fourth district of Calitbrnia
118,764
76,362
268
382,342
-382,610
718,836
Of the 200,732 gallons grape brandy bonded during the last fiscal year
99,312 gallons were produced in the first district and 101,420 gallons
were produced in the fourth district of Oalifornia.
5022 F
8
114
REPORT ON THE FINANCES.
The total product was 23,245 gallons less than in the previous year,
while the amount removed tax-paid was 46,307 gallons larger than in
1883. The loss resulting from regauge under the act of May 28, 1880,
was 6,506 gallons more than in the previous year,
. Of the quantity in warehouse June 30, 1884, 263,578 gallons were in
the following warehouses in the first district of Galifornia:
Gallons.
No. 1.
No. 2.
No. 3.
No. 4.
Bode & Searle, at San Francisco
J u a n Bernard, at Los Angeles
George C. Carlon, at Stockton
James M. Tierman, at San Gabriel Station
152,448
48, 087
21,472
, 41,571
And 118,764 gallons were iu the following-named warehouses in the
fourth district of Galifornia:
Gallons.
No. 1.
No. 2.
No. 3.
No. 4.
E. B. Carroll, at S a c r a m e n t o . . .
John F. Boyce, at Santa Rosa
A. B. Purfurst, at Santa Helena
John Tivnen, at Sonoma
44,320
17,221
37,795
19,428
EXPORTATION OF MANUFACTURED TOBACCO AND SNUFF IN BOND..
The subjoined table shows as removed and unaccounted for July 1,
1883, and July 1,1884, the quantity, in pounds, of manufactured tobacco
and snufi' which had been removed for exportation in bond, and concerning which the proof of exportation required by law had not been furnished prior to the dates named:
1. Removed and unaccounted for July 1,1883:
Bonds in the hands of U. S. district attorneys
I'obacco at 16 cents removed under exportation bonds..
Tobacco at 16 cents removed under transportation bonds
Tobacco at 8 cents removed under exportation b o n d s . . ,
Pounds.
17, 094
91,922
. 2,484
854,620^
Pounds.
—
2. Removed during the year ended June 30,1884:
Tobacco at 8 cents t a x
966,1201
10,637,603
10,637,603
ll,603,723i
3. Exported and accounted for during t h e year:
= = = = =
Bonds in the hands of U. S. district attorneys
„ „..
17, 094
Tobacco at 16 cents t a x uuder exportation bonds
79,888^
Tobacco at 16 cents t a x under transportation bonds
2,484
Tobacco at 8 cents t a x under exportation bonds
10,744,043
Tobacco at 16 cents t a x paid on deficiencies
1,007|
Tobacco at 8 cents t a x paid on deficiencies
535
10,845,052
4. Remaining unaccounted for June 30,1884 :
Tobacco at 16 cents tax removed under exportation bonds
11, 026
Tobacco at 8 cents t a x removed under exportation bonds
747,645|
758,6711
11,603,7231
EXPORTATION OF CIGARS AND CIGARETTES IN BOND.
1. Removed and unaccounted for J u l y 1,1883 :
Cigars at $6.00 per M
Cigars at 13.00 p e r M
Cigarettes at $1.75 per M
Cigarettes at 50 cents per M
Number.
7,500
104,000
231,000
4,913,000
Nnmber.
5,255,500
i2. Removed during the year ended June 30,1884:
Cigars at 13.00 per M
Cigarettes at 50 cents per M
'
1,690,000
86,243,485
87,933,485
93,188,985
COMMISSIONER OF INTERNAL
115^
REVENUE.
3. Exported and accounted for during the year ended J n n e
30,1884:
Cigars at $6.00 p e r M
'
7,500
Cigars at $3.00 per M
1,721,950
Cigarettes at $1.75 per M
231,000
Cigarettes at 50 cents per M
83,338,985
85,299,435
4. Remaining unaccounted for at the close of the fiscal year
' ended J u n e 30,1884 :
Cigars at $3.00 per M
Cigarettes at 50 cents per M
,
72,050
7,817,500
^
.
7,889,550
93,188,985
DATE OF BONDS REMAINING UNACCOUNTED FOR J U N E 3 0 , 1884.
The years in which the bonds were given for the exportation of the
tobacco, snufi', cigars, aud cigarettes remaining unaccounted for by the
evidence requirecl by law for their cancellation, on June 30, 1884, are
as folio wSj viz :
Tobacco,
in pounds.
Year.
1879..
1880
1882
1883
1884
.
:..;
N u m b e r of
cigars.
N u m b e r of
cigarettes.
2,380
2,067
2, 028 5,098
747, 098i
72, 050
101, 000
7, 716, 500
758, 671A
72, 050
7, 817, 500
EXPORTATION OF FRICTION MATCHES, WAX T A P E R S , CIGAR LIGHTS,
AND PROPRIETARY ARTICLES UNDER SECTION 19 OF THE ACT OF
MARCH 1, 1879.
N u m b e r of A m o u n t of N u m b e r of
tax.
articles.
articles.
1
R e m a i n i n g u n a c c o u n t e d for J u n e 30, 1883
450, 276
48,153
$4, 958 64
1,183 90
3
4
A c c o u n t e d for a s e x p o r t e d d u r i n g t h e y e a r
R e m a i n i n g u n a c c o u n t e d for J u n e 30 1884.
498, 429
6,142 54
^
A j n o u n t of
tax.
498,429
$6,142 54
498, 429
6,142 54
8TATEMENT of DBAWBACK of INTEBNAL-BEVENUE TAXES ALLOWED on
, EXPOBTED MERCHANDISE during the fiscal year ended June 30, 1884.
Port.
Mnhilft
NewYork
Philadelphia
San Prancisco
Suspension Bridge .
Trov
Totnl
Anowedl883
Cigars
N o . of P r o p r i etary
T o b a c c o . Snutf. a n d ciclaims. a r t i c l e s .
garettes.
5
$807 62 $354 98
11
4
1
158
960 64
1
16 96
40
592 71
619 i4, 547 36
340 42
2
289 44
1
1 ""32'46'
692 79 3, 839 08
159
. 85
1 "'"is 83
25 92
2
1,090 16, 460 34 6, 053 81
Permented
Hquors.
$82 00
Stills.
Distilled
spiiits.
$31 50
336 60
$132 42
6, 516 36
$44 00
3, 227 62
1, 222 57
3, 509 33
2, 402 34
234 93
3, 380 69
82 00 5, 673 96 14, 996 30
1,130 33, 000 89 5, 604 60 *590 92 5,195 37
6, 034 16
Total.
$468
1,144
132
$20 00
20
6,516
960
1,283
460 00 1, G73 10 24, 010
340
289
32
6, 310 80 13, 479
3, 380
13
25
48
22
'42
00
36
64
53
12
42
44
40
94
69
83
92
480 00 8, 352 00 52, 098 41
60 00 4,608 00 55, 093 94
* Chairs exported during the yeara 1864,1865, 1866, and 1867 under the proTisions of section 171, M^
•f June 30,1864.
.'
116
REPORT ON THE
FINANCES.
The tax on proprietary articles was repealed by the act of March 3,
1883, section 1. and, as provided by that act, no drawback of tax on
such articles when exported after July 1, 1883, has been allowed. The
amount above reported as allowed on such articles was on account of
exportations made prior to July 1,1883, and outstanding on that date.
The amount due and yet outstanding on this class of goods is estimated
at about $8,000, which if added to the amount above reported will
about equal the amount estimated in my report for 1883 as outstandiug
June 30, 1883,' viz, $25,000.
MISCELLANEOUS ASSESSMENTS..
The following table shows the assessments made by the Oommissioner
of Internal Revenue during the fiscal years ended June 30, 1883, and
June'30,1884, respectively, and the increase or decrease on each article
or occupation:
A m o u n t assessed duiing
fiscal y e a r ended—
J u n e 30,1883. J u n e 30,1884,
T a x on deficiencies in p r o d u c t i o n of distilled
spirits
$67, 072 85
T a x on excess of m a t e r i a l s u s e d in t h e p r o d u c tion of distilled s p i r i t s
8, 536 11
T a x on d e p o s i t s a n d c a p i t a l of b a n k s , b a n k ers, a n d s a v i n g s i n s t i t u t i o n s o t h e r t h a n
nati»mal b a u k s
•"... 2, 696, 834 36
T a x on ciroulation of b a n k s a u d others- . . .
805 26
T a x on distilled s p i r i t s f r a u d u l e n t l y l e m o v e d
1,
522,
883 12
or seized ; also t a x e s o v e r d u e , . .*
T a x on f e r m e n t e d l i q u o r s r e m o v e d from b r e w ery unstamped
575 81
T a x on t o b a c c o , snuff, a n d c i g a r s r e m o v e d
from factory u n s t a m p e d
17, 651 07
T a x on ]3roprietary a r t i c l e s r e m o v e d u n stamped
1,788 00
80,141 45
/Vssess^e,d p e n a l t i e s
22, 918 83
Legacies and successions
U n a s s e s s e d a n d u n a s s e s s a b l e p e n a l t i e s , int e r e s t , t a x e s pi-sviously a b a t e d , conscience
m o n e y , a n d deficiencie.s in b o n d e d a c c o u n t s
w h i c h h a v e been coUected; also, fines, peiialties, a n d f o r f e i t u r e s a n d c o s t s p a i d to collectoi s b y o r d e r of c o u r t or b y o r d e r of Secretary, and unassessable taxes recovered;
also a m o u n t of p e n a l t i e s a n d i n t e r e s t rec e i v e d for v a l i d a t i n g u n s t a m p e d i n s t r u m e n t s ( F o r m 58)
352, 299 72
Special t a x e s (licenses)
53, 588 27
T a x on i n c o m e a n d d i v i d e n d s
. 3,708 19
Total
4, 828, 803 04
$69,178 36
F i s c a l y e a r e n d e d J u n e 30,
1884.
Increase
over 1883.
$2,105 51
3,438 41
$5, 097 70
550 61
22.3 61
:, 906, 401 75
I, 696, 283 75
576 65
7, 383, 518 63
2,170 89
1, 595 08
20, 569 09
2, 918 02
252 62
70,3)5 20
1, 524 17
284,188 17
69, 371 46
8, 034 51
9,436,223 85
Decrease
from 1883.
1, 535 38
9, 826 25
21, 394 66
68, 111 55
15,783 19
4, 326 32
4, 607, 420 81
117
COMMISSIONER OF INTE H NAL REVENUE.
ASSESSMENTS FOR 1 8 8 4 .
The following statemeut shows the amountof assessments in each of
the several States and Territories of the United States during the fiscal
year ended June 30, 1884:
, states and Territories.
Amount.
Alabama
:
Arkansas
California and N e v a d a
Florida
Georgia
Illinois
Indiana
.
.
Kentucky
Louisiana
Massachusetts
Michigan
...
-
....
$6. 644 43
5, 607 16
80, 642 39
3, 361 15
4,134 19
376 64
569 82
21,167 51
33, 154 55
145,992 09
37, 717 63
1, 318 21.
6, 651, 233 54
36, 655 82
...
3,191 89
616, 307 84
40, 947 85
9, 990 92
3, 719'48
615 61
States and Territories.
Amount.
Missouri
M o n t a i i a I d a h o • a n d TJtah
Nebraska and Dakota .. . . . . .
..
N e w Mexico and Arizona
New York
N o r t h Carolina
Ohio
. .
.
Oregon a n d W^ashington . .4
Pennsvlvania. ..
Rhode Island
South Carolina
Tennessee ..
...
.
Texas
Vermont
Virginia
...
W e s t Virginia
Wisconsin
Total
.
. . . .
.
$12, 915
1 607
27,100
941
4, 956
2, 996
48, 027
50 918
251 797
2 622
980, 243
679
2, 834
106, 040
5,198
951
29, 564
180,850
22, 627
25
78
29
71
69
74
05
32
15
86
52
18
73
40
87
89
53
36
81
9,436, 223 85
The large increase of the assessments made in the last fiscal year
over the assessments made during the year ended June 30,1883, consists
in the tax on distilled spirits remaining in warehouse over three years.
This tax has been continued to be assessed, instead of being collected
by the two other methods, viz, suit on warehousing bond or proceeding
by distraint. Thus $8,906,401.75 of this tax was assessed against
$1,522,883.12 in the previous year.
The increase in the assessment of special taxes or licenses is owing to
the fact that no stamps were issued for taxes due but not paid within
the year. Such taxes are now assessed.
The tax on capital and deposits of banks and bankers was repealed
by the act of March 3, 1883. The small amount of $550.61 assessed
was for tax due before the passage of the act.
The tax on legacies and successions was repealed by the act of July
14, 1870, and it is believed that there is now but a small amouut due
the United States from this source.
The decrease of $68,111.55 assessed on Form 58 is owing to the circumstance that only $181,545.11, amounts collected in compromise cases,
was assessed on this form, against $211,524.68 in the previous year.
I have the honor to subscribe myself, very respectfully,
WALTER EYAI^S, .
Gommissioner.
The Hon.
S E C R E T A R Y OF T H E T R E A S U R Y .
IIEPORT OF THE COMPTROLLER OF THE CURRENCY.
119
REPORT
OF
THE COMPTROLLER OF THE CURRENCY,
TREASURY DEPARTMENT,
OFFICE OF GOMPTROLLER OF THE CURRENCY,
Washington., Becember 1, 1884.
I have the honor to submit for the consideration of Congress, in comliliance with section 333 of the Eevised Statutes of the United States,
the twenty-second annual report of the Comptroller of the Currency.
During the year ending November 1, 1884, 191 banks have been organized with an aggregate capital of $16,042,230; circulating notes
have been issued to these new associations ainounting to $3,866,230.
The following table gives the number of banks organized in each
State and Territory during the year.ending November 1, 1884, with
their aggregate capital and circulation:
states and Territories.
N o . of
banks.
$1, 254, 580
1, 350, 000
1,816.100
829. 000
785, 500
1,023,500
538, 750
1, 827, 700
1,074,100
1, 035, 000
373, 000
275, 000
245, 000
525, 000
275, 000
• 180,000
340, 000
180, 000
160, 000
150, OUO
190,000
105, 000
105, 000
luo, 000
90, 000
85, 000
250, 000
230, 000
150,000
150,000
60, 000
. 50, 000
50, 000
50, 000
50. 000
50,000
40, 000
Kansas
..
Nebraska
Texas
Michigan
:
Iowa
Pennsylvania
New York
Minnesota
;..
Ohio
Illinois
Dakota
Missouri
Wisconsin
, Massachusetts
,.
Montana
Vermont
Tennessee
Colorado
Washington Territory
Mar.yland
Mississippi
Maine
G eorgia
New Jersey
West Virginia
N e w Mexico
Alabama
liidiana
Oregon
Utah
Kentucky
South Carolina
Florida'.California
Arizona....
Idaho
.•
Virginia
Totals
Capital.
191
16,042,230
Bonds
Circulatioa
issued.
deposited.
$337, 500
327, 000
431,500
265. 000
219, 000
406, 500
286, 000
287, 500
221, 000
275, 500
100, 500
68, 750
105, 500
123, 000
.68, 750
90, 000
95, 000
52, 500
40, 000
81, 500
50, 000
100, 000
27, 000
25, 500
52, 500
25, 000
50, 000
60, 000
37, 500
50, 000
15, 000
12, 600
12.500
30, 000
12, 500
12, 500
32, 500
4, 487,100
$303, 640
292, 40O
364, 490
224, 950
• 197,090
309, 595
250, 670
236, 230
102, 390
247, 950
90, 420
61,830
94, 940
110,700
61,860
67, 490
85, 500
47, 240
36, OOO
73,350
22, 50O
85, 500
24, 30O
22, 940
47,240
22, 50O
45,000
54, 000
33, 740
45, OOO
13,500
11, 30O
11,240
27, 000
11,250
11,240
'
29,250
3, 866, 23^
These banks are located by geographical divisions as follows: Eastern States ten banks, with capital of $810,000; Middle States twentyfive, with capital of $1,812,250; Southern States thirty, with capital of
$2,991,100; Western State^* one hundred and two, with capital of
. 121
122
REPORT ON T H E
FINANCES.
$8,905,880; Pacific States five, with capital of $380,000; Territories
nineteen, with capital of $1,143,000.
Since the establishment of the national banking system on February
25,1863, there have been organized 3,261 national banks. Of these, 404*
have gone into voluntary liquidation for the purpose of winding up
their aifairs, 70 have gone into voluntary liquidation for the purpose ot
reorganization, 16 are in liquidation by expiration of their charter, of
which number six have been reorganized, and 100 have been placed in
the hands of receivers for the purpose of closing up their aifairs, leaving the total number in existence on November 1, 1884, 2,671, which is
the largest number that has been in operation at any one time.
The corporate existence of 90 national banks expired during the year
ending November 1,1884, of which S3 have been extended under the act
of July 12, 1882, six have permitted their corporate existence to expire
and are iu liquidation under section 7 of said act (four of which have
been succeeded by other banks located in the same places and with
nearly the same shareholders), and one has been placed in voluntary
liquidation by vote of shareholders owning two thirds of its stock.
The corporate existence of 154 national banks, with an aggregate capital of $56,161,370, will expire during November and December of tliis
year, and the corporate existence of 720 national banks, with an aggregate capital of $188,971,475 will expire during 1885.
Eleven national banks, with an aggregate capital of $1,285,000, have
failed and been-placed in the handsof receivers during the year.
COMPARATIVE STATEIMENTS OF THE NATIONAL BANKS FOR ELEVEN
YEARS.
The following table exhibits the resources and liabilities of the national banks for eleven years, at nearly corresponding dates, from 1874
to 1884, inclusive:
Oct. 2, Oct. 1, Oct. 2, Oct. 1, Oct. 1, Oct. 2, Oct. 1, O r t . l , Oct. 3, Oct. 2, Sep.30,
1879.
1884.
1876.
1881.
1883.
1875.
1882.
1874.
1877.
1880.
1878.
2,269
2,004
2,089
2,080
2,132
2,501. 2,064
2,087
2,053 2,048 2,090
banks. banks. banks. banks. banks. banks. banks. banks. banks. bauks. banks.
KESOUK^CES.
Loans
B o n d s for c i r c u l a t ' n .
O t h e r U . S. b o n d s . . . S t o c k s , b o n d s , &c
D u e from b a n k s
Real estate
Specie
Legal-tender notes ..
Nat'1-bank notes
C. H . exchan2:es
IT. S. c e r t , of d e p o s i t .
D u e f r o m U . S . Treas.
Other resources
Totals
. .
Millions. Millions. Millions. Millions. Millio-ns. Millions. Millions. Millionfi. Millions. Millions. Millions.
954.4 984.7 931. 3 891.9 834.0 878.5 1, 041. 0 1 173 8 1 9a..q 9, 1, 309. 2 1 245 8
383.3
28.0
27.8
134. 8
38.1
21.2
80.0
18.5
109.7
42.8
20.3
18.3
370. 3
28.1
33.5
144.7
42.4
8.1
76.5
18.5
87.9
48.8
19.6
19.1
337.2
47.8
34.4
146.9
43.1
21.4
84.2
15.9
100.0
29.2
16.7
19.1
357.3
71.2
39.7
167.3
47.8
42.2
69.2
16.7
113.0
26.8
17.0
22.1
357.8 ' 363. 3! ' 357. 6
56. 5
37. 4
43.6
61. 9
66. 2
48.9
213.5 230.8 198.9
47. 3i
46. 5
48.0
109.3 114.3 102.9
56.6
63.2
53.2
18.2
20.7
17.7
121.1 189.2 208.4 •
8.7
7.7
6.7
17.1
17.2
17.5
23.0
28.9
26.2
351.4
30.7
71.1
208.9
48.3
107.8
70.7
22. 7
96.4
10.0
16.6
28.9
327. 4
30.4
71.4
194.2
49.9
128.6
77. •
23.8
66.2
14.2
17. T
33.8
1, 877. 2 1, 882. 2 1, 827 2'l- 741 1 1, 767. 3 1, 868. 8 2, 105. 8 2, 358. 4 2, 399. 8 2, 372. 7 2 , 2 7 9 . i
'
LIABILITIES.
Capital stock
S u r p l u s fund
TTndivided profits . . .
Circulation
D u e to depositors . . .
Due to b a n k s
O t h e r liabilities
Totals
336.8 347.6
94.7
45.0
36.9
34.5
129.9 138.9
46.7
45.2
22.7 • 30.7
64.4
66.9
16.9
15.6
82.4
74.5
32.7
33.4
16.5
16.0
24.9
28.7
493 8
129. 0
51.5
334.2
683.8;
175.8.
9. l |
504. 8
134.4
53. 0
319.1
679.4
179.7
11. 8
499.8
132.2
46.4
292. 2
666.2
179. 8
10.6
479.5
122. 8
44.5
291.9
630. 4
161.6
10.4
466.2
116.9
44.9
301. 9
668.4
165.1
7.9
454.1
114.8
41.3
313.8
736.9
201.2
6.7
457. 6 463.8 483.1 509.7
120.5 128.1 132.0 142. 0
46.1
56.4
61.2
61.6
317.3 320.2 315.0 310. 5
887.9 1, 083.1 1,134. 9 1,063.6
267.9 ;294. 9 259.9 '270.4
8.5
11.9
14.9
13.7
524.8
147.0
63.2
289.8
993.0
246.4
15. 8
1, 877. 2 1 882. 2 1. 827. 2 1. 741. 1 1. 7fi7. 3 1 8fi8 8 2,105. 8 2, 358. 4 2, 399. 8 2, 372. 7 2, 279. &
'
* Exclusiye of the Metropolitan National Bank, of New York City, which was placed
in voluntary liquidation ]Sovember 18, 1884.
123
COMPTROLLER OF THE CURRENCY.
The different items of resources and liabilities in the preceding table
indicate that the business of the national banks during the past eleven'
years has generally increased. The items of United States bonds and
circulation thereon have decreased during the past two years. It also
appears from the table that the aggregate liabilities of the national
bauks to depositors and correspondents were reduced during the year
upwards of 94 millions. This reduction of liabilities and the general
reduction of loans by the banks, whiph amounted to over 63 millions
during the year, was doubtless occasioned by the financial troubles of
May and the geueral depression of business. The table shows that during the same period the national banks increased their cash resources
by about 21 inillions of specie and 11 millions of legal-tenders and
United States certificates of deposit for same.
The following table is an abstract of the resources and liabilities of
the uational bauks at the close of business on the 30th day of September, 1884, the condition of the New York Oity, Boston, Philadelphia,
Baltimore, and other reserve city banks being tabulated separately from
the other banks of the country: .
New York
City.
Boston, P h i l a delphia, and Other reserve
cities.*
Baltimore,
44 b a n k s .
104 b a n k s .
99 b a n k s .
Country
banks.
Aggregate.
2,417 b a n k s .
2,664 b a n k s .
RESOUliCES.
Loans and discounts
$205, 353, 277 $199, 238, 078
135, 977
120, 238
Overdrafts
43, 009, 950
15, 602, 500
B o n d s for c i r c u l a t i o n
675, 000
820, 000
B o n d s for d e p o s i t s
180, 400
4, 064, 950
TI. S. b o n d s on h a n d
7, 156, 090
13, 020, 739
O t h e r s t o c k s and- b o n d s
17,184, 005
D u e from r e s e r v e a g e n t s
14, 227, 847
D u e from o t h e r n a t i o u a l b a n k s , "17," 352,'436'
D u e from o t h e r b a n k s a n d
1, 496, 653
2,118, 897
bankers
R e a l e s t a t e , f u m i t u r e , a n d fix6, 475, 467
9, 745,176
tures
763,139
Current expenses
'
731,631
1, 052, 509
Premiums
1,031,284
1, 216, 748
Checks and other cash it«ms..
2,391,517
C l e a r i n g - h o u s e loan certificates]
1,690,000
14,605,905
E x c h a n g e s for c l e a r i n g - h o u s e .
44,005,521
2, 903, 904
B i l l s of o t h e r n a t i o n a l b a n k s . .
2, 208, 406
46, 750
Fractional cuixency
31, 832
15,
351, 275
Specie
63,113, 318
8, 668, 237
Legal-tender uotes
22, 885, 808
7, 495, 000
4,145, 000
U". S. certificates of d e p o s i t
684,105
1, 936, 086
F i v e p e r cent, r e d e r a p t i o n fundj
2, 584, 758
179, 600
D u e from TJ. S. T r e a s u r e r . .
Totals.
413, 701, 393
$142, 624, 980
336, 806
26, 263, 600
4,413,000
2, 279, 900
5, 324, 615
15, 156, 895
8, 681, 931
$692, 854, 461 $1, 240, 070, 796
4, 630, 275
5, 223, 296
242, 558, 950
327,435, 000
10, 932, 000
16,840,000
7, 054, 350
13, 679, 600
45, 862, 033
71, 363, 477
79, 652, 120
111,993,020
26, 073, 331
66, 335, 545
3, 723, 646
8, 494, 787
15, 833, 983
4, 835, 973
862, 642
1, 227, 986
708, 819
28,844,271
. 4,556,097
8, 320, 853
8, 786, 015
6, 441, 564
3, 232, 968
56, 866
14, 906, 706
15, 097, 774
2, 060, 000
1,166,497
164, 255
1, 204,128
14,913,576'
333, 576
35,238,176
30, 396, 440
500, 000
10,518,328
502, 677
49, 900, 887
6, 913, 509
11, 632, 6b2
13,103, 099
1, 690, 000
66, 257,118
23, 258, 854
469. 024
128, 009, 475
77, 048, 259
14, 200, 000
14,305,0.16
3, 431, 290
343, 998, 620 259, 567, 423 1, 262, 226, 444 2, 279, 493, 880
LIABILITIES.
Capital stock
Surplus fund
Uindivided profits
-.
N a t ional-bank notes outstanding
State-bank notes outstanding .
Dividends unpaid
Individual deposits
U . S. d e p o s i t s
D e p o s i t s of U . S. d i s b u r s i n g
ofiicers
D u e to national b a n k s
D u e to o t h e r b a n k s a n d b a n k e r s ]
N o t e s a n d bills r e d i s c o u n t e d
Bills payable
Totals
80,721,260
23, 741, 408
6,911,290
53, 015, 600
13, 709, 459
6,160, 929
344, 279, 485
86, 962, 386
39, 069, 611
524, 266, 345
147, 045, 83"3
63, 232, 942
362
843
254
659
871
37, 936, 931'
20, 854
1, 362, 469
144, 386, 221
474, 508
23, 236, 334
215, 398,
120,
1, 856,
510, 757,
6, 378,
496
956
613
135
038
289, 775,123
179, 653
3, 686, 160
975, 259, 296
10, 336,198
219,984
82, 476, 635
29, 922, 093
37, 272, 743
10, 915, 936
2, 653, 443
. 28,381,130
13,465,116
9, 809, 965
3, 034, 070
3, 076, 808
173, 975, 894
72,421,915
11, 043, 563
4, 594,150
413,701,393
343, 998, 620
259, 567, 423 1, 262, 226, 444
2, 279, 493, 88fl
46, 250, 000
22, 632, 580
11, 091,112
13, 203,
37,
243,
207,195,
428,
255, 000
223, 824
112, 920, 281
3, 054, 781
803, 381
25, 845, 386
18,118, 770
1,173, 598
1, 305, 080
* T h o r e s e r v e cities, in a d d i t i o n t o N e w Y o r k , Boston, P h i l a d e l p h i a , a n d B a l t i m o r e , a r e A l b a n y ,
P i t t s b u r g h , W a s h i n g t o u , N e w Orleans, Louisville, C i n c i n n a t i , Clevelaud, C h i c a g o , D e t r o i t , M i l w a u k e e .
S a i n t L o u i s , a n d San F r a n c i s c o .
124
REPORT ON T H E
FINANCES.
The following table exhibits, in the order of their capital, the twentyfive States having the largest amoant of capital.,; together with the
amount of circulation, loans and discounts, and individual deposits of
each on September 30,1884:
states.
Capit al.
Massachusetts..
New York
Pennsylvania...
Connecticut
Ohio
,
Rhode Islaud . . .
Indiana
Illinois
'..
New Jersey ..'..
Minnesota-.
Maine
;.
Iowa
Michigan
Kentucky
Vermout
New Hampshire
T e x a s •.
...
Tennessee
Nebraska
Kansas
Wisconsin
Virginia
Missouri
Maryland
Georgia
$45,727,500
35, 223, 360
32, 213, 840
25, 956, 820
22, 039, 000
20, 540, 050
13, 828, 500
13, 549, 600
12, 253, 350
11, 3.57, 700
10, 300, 000
10,145, 500
9, 794, 600
0,458, 900
8, Oil, 000
6,105, 000
5, 970, 000
5, 005, 300
4, 735, 000
3, 844, 580
3, 750, 000
3, 536, 700
3, 065, 000
2, 678, 200
2, 436, 000
Circulation.
Loans and
discounts.
$35, 802, 393 $83, 697, 467
25, 313,183
86, 290, 860
24, 233, 85.')
68, 797, 260
,16, 481, 652
40, 436, 341
14, 266, 220
41,780,901
13, 686, 336
30, 144,229
25, 592, 902
7, 616, 230
6, 984, 632
31, 286, 349
30,143, 882
8, 436, 679
25,197,132
1, 995, 849
17, 423, 202
7, 862, 086
4,163, 941
20, 934, 290
3, 711, 495
21, 299, 816
6, 462, 460
14, 854. 660
5,776,1.^5
11,505,789
5,173, 915
8,417,815
11, 397, 055
1, 646, 985
11,376,305
2, 267, 250
12,448,429
1, 704. 720
1, 296, 790
8, 499, 911
9, 663, 410
1, 671, 933
11, 702,147
2. 281, 200
1, 215,183
6,911,991
2,176,329
6, 036, 278
1,637,880
4, 846, 807
Individual
deposits.
$45, 433, 760
73, 972. 478
60, 987, 553 •
21,147, 279
• 31,801, 141
11, 562. 204
19,255,221
26, 543,196
28,743,311
15, 971, 428
9, 522, 367
16,123, 790
16,151, 037
8,922,521
4,921,911
4,961,313
7, 927, 563
8, 258, 292
9, 396, 207
8, 362, 364
8, 853, 236
10,795,959
5,863,746'
5, 848, 748
2,511,117
NUMBER, CAPITAL, AND DEPOSITS OF NATIONAL BANKS, STATE AND
SAVINGS BANKS, AND PRIVATE BANKERS.
Section 333 of the,Eevised Statutes ofthe United States requires the
Oomptroller to present annually to Congress a statement of the condition of the banks and savings banks organized under State laws.
Returns of capital and deposits have hitherto b^en made by these institutions and by private bankers semi-annually to this Department for
purposes of taxation. From these retnrns the following table has been
compiled, exhibiting in concise form, by geographical divisions, the total
average capital and deposits of all the State and savings banksand
private bankers of the country for the six montlis ending Ko vern ber
30,1882, being the last semi-annual period for which State and savings
banks and private bankers were required to raake returns for taxation
purposes:
State b a n k s and t r u s t
companies.
Private bankers.
G e o g r a p h i c a l divisions.
No. C a p i t a l . D ei tpso. s MilVs.
•8. 30
40.60
25.34
MilVs.
31. 64
244. 02
45.94
No.
Savings
Savings bauks with
banks withcapital.
out capital.
1.
1
C a p i t a l . D e p o s - No. C a p i t a l . D e p o s - No.
its.
its.
MilVs.
6.22
62.42
6.33
MilVs.
6.57
112. 69
20. 68
168. 40 2,062
30.31
149. 02
25
2.73
35. 74^
32
35 23
U n i t e d S t a t e s . . 1,061 i 123.14 j 490.00 3,412
105. 28
288. ^Q
42
4.02
43.47 625
960.26
New England States..
Middle States
Southern States
Western States aud
Territories
40
210
248
563 , 48.90
.94
967
289
2
8
7
MilVs.
0.10
0.63
0.56
Deposits.'
MilVs.
0.89 420
5.34 171
1. 50
2
MilVs.
436. 25
486. 98
1.80
The capital of the 2,308 national banks in operation on December 30,
1882, being the date of their report nearest to that of the table given
125
COMPTROLLER OF THE CURRENCY.
above, as will be seen by a table in the Appendix, was $484,883,492, not
ber 30, 1882, was but $232,435,330. The latter amount is less than twofifths of the combined capital and surplus of the national banks at
practically the sarne time.
The table below exhibits the capital and net deposits ofthe national
banks on December 30, 1882, together with the aggregate average capital Mild deposits of all classes of banks other than national for the six
months ending November 30, 1882:
€reogr£i}i)hical divisions.
State
banks,
savings
banks, private banke r s , &c.
No.
N e w E n g l a n d S t a t e s . 556
1, 356
Middle States
S o u t h e r n S t a t e s . . ; . 546
W e s t e r n States and
2,682
Territories
!
U n i t e d S t a t e s . . . 5.140
Total.
National banks.
Capital
Deposits.
No.
Millions.
14.62
103. 66
32. 23
Millions.
475. 35
849. 03
69. 90"
560
691
214
Millions. Millions.
166. 23
193.15 1,116
173.19
556. 55 2,047
34.80
68.84
760
843
• 110.66
301. 28 3,525
192. 59
689. 70
1, 782. 70 2,308
484. 88
1,119. 82 7,448
717. 32
2,902.52
81.93
232. 44
388. 42
Capital.
Deposits.
No
Capital.
Deposits.
MiUions. Millions.'
180.85
668. 50
276. 85
1, 405. 58
67. 03 ^
138. 74
The total number of banks and bankers in the.country at the date
named was 7,448, with a total banking capital of $717,318,822, and total
deposits of $2,902,522,245.
In the Appendix will be found similar tables for various periods from
1875 to 1882. On a subsequent page in this report, under the head of
^'State banks, savings banks, and trnst companies," will be found tables
showing the resources and liabilities of these corporations for the present
year, and in the Appenidix similar results for previous years.
A table arranged by-States and principal cities, giving the number,
•capital, and deposits, and the tax thereon, of all banking institutions
other than natiunal, and of the private bankers of the country, for the
-six months ending E'ovember 30,1882, and for previous years, will also
be found in the Appeudix.
The following table exhibits, for corresponding dates nearest to May
31, in each of the last seven years, and to November 30,1882, the aggregate amounts ot the capital and deposits of each of the classes of banks
given in the foregoing table :
National banks.
State banks, private
b a n k e r s , &,c.
Savings banks
with capital.
Savings
bankswithout capital.
TotaL
Years.
No.
1876...
1877...
1878 . .
1879...
1880 . .
1881...
1882 . .
1882*..
2,091
2, 078
2,056
2,048
2,076
2,115
2,239
2,308
Capi- D e p o s tal.
its.
MilVs.
500.4
481. 0
470. 4
455. 3
455.9
460. 2
477.2
484.9
MilVs.
713.5
768.2
677. 2
713.4
900.8
1, 039. 9
1,131.7
1, 119. 8
No
3,803
3,709
3, 799
3, 639
3,798
4,016
4, 403
4,473
Capi- DeposCapi- DeposDepos- N o .
No.
No.
its.
tal.
its.
tal.
its.
MilVs. MilVs.
214. 0 480.0
218.6 470. 5
202. 2 413.3
197.0 397.0
190.1 501.5
206.5 627. 5
231. 0 747.6
228.4 779. 0
Capital.
Depos-
MilVs.
MilVs. MilVs.
MilVs. MilVs.
26
37.2 691 844.6 6,611 719.4 2, 075. 3
5.0
26
38.2 676 843.2 6,579 704.5 2,120.1
4.9
23
26.2 668 803.3 6,450 675. 8 1. 920. 0
3.2
29 V 4 . 2
36.1 644 747.1 6,360 656.5 1,893.5
29
34.6 629 783.0 6, 532 650. 0 2, 219. 9
4.0
36
37.6 6i9 862. 3 6,796 670.9 2, 667. 3
4.2
38
41.3 622 929. 8 7, 302 712.1 2, 850. 4
3.9
42
43.5 625 960.2 7,448 717.3 2, 902. 5
4.0
* I n the last table of the series the returns are giveu for the six montbs ending May 31, 1882, and
also for the six months ending Noveinber 30, of thp same year. ,
126
REPORT
ON T H E
FINANCES.
I t will be noticed that the first two tables of this chapter are for the
six montlis ending November 30, while all similar tables in previous reports have been for the six months ending May 31. The law repealing
the tax on capital and deposits of State banks and private bankers went
into eftect on JSTovember 30, 1882, in accordance with the opinion of the
Attoruey-Greneral, and for this reason the Oomptroller has given the
returns to that date, which will be the last data to be obtained from this
source. It is probable tli at the number, capital, and deposits of the State
banks, saviugs banks, and private bankers have beeii materially decreased by the recent financial troubles.
EXTENSION OF T H E CORPORATE
EXISTENCE
OF NATIONAL BANKS.
On November 1, 1884, 398 banks had extended their corporate existtence under the act of July 12, 1882. In the Appendix will be found
a table showing the distribution and capital of these banks by States.
During the year ending November 1, 1884, the periods of succession of
90 banks, as fixed by the dates of their organization certificates and
the terms of their articles of association, terminated. Of these, 83 have
extended their corporate existence under the act mentioned. One was
placed^ in voluntary liquidation prior to expiration by the vote of stockholders owning two-thirds of its stock. Of the 6 remaining banks expiring during the year, 2 were not extended, but were permitted by their
stockholders to close a t the end of their periods of succession, and to
liquidate under section 7 of the act of July 12, 188 i, while 4 were succeeded by other associations, with difierent names, with the same shareholders wholly or in part.
The totalnumber of banks still in operation organized under the aci
of June 3, 1864, and the provisions of the Eevised Statutes, the periods
of succession of which will terminate, unless hereafter renewed, during
the years previous to 1900, is 1,488, with capital and circulation as follows:
Hi'
No. of
banks.
Years.
1884*
1885 '.:
j 886
. . .
1887
1888
1889
1890
.
1891
1892
1893
1894 • ..
..
1895.
1896
1897
^
1898
1899
.'
1
.-.
..,
•
Totals
-.
154
720
19
X?
3
63
104
103
39
67
81
23
i
41
1, 488
* From November 1 to December 31, inclusive.
Capital.
.$.56,161, 370
188,971,475
~ 2,715,300
950. 000
1, 250, 000
600, 000
9, 290, 500
13,193,900
12, 879, 600
4, 740, 000
7,638, OOOIO, 665, 000
1, 968, 000
2, 969, 000
2,649,000
4, 820, 000
Circulation.
$32,696,590
107, 484,115
. 1,758,250
925, 000
719,100
450, 00«
6,419,950
, 9,120, 88©
8, 300, 87©
3, 849, 400
5, 819,150
7, 650, 000
1, 525, 500
2,106, 00©
2,208,600
3, 811, 900
-321, 461,145 ., 194, 745, SOf
i COMPTROLLER OF THE CURRENCY.
127
The number, capital, and circulation of the national banks whose
periods of succession will terminate during each month of the year
1885 are as follows:
Month.
January
Febnia'ry . . .
March
April
May
Jime
July . . . - . . . Atigiist
September ..
October
November ..
December...
Number of
banks.
109
68
125
86
121
139
24
14
13
7
6
8
Totals
Capital
stock.
$27, 534, 500
11, 586,000
32, 325, 750
25, 241. 970
28, 362, 340
49, 894,915
4, 915, 000
1, 901, 000
1, 835, 000
1, 175, 000
1, 200,000
H, 000, 000
i United States
Circulation.
!
bonds.
$18, 927,
8, 885,
20, 63(i,
16, 456,
21, 550,
24, 757,
2, 375,
1, 256,
1,17.5,
835,
1,180,
2, 025,
$17, 019,755
7, 905. 740
18, 538, 060
14, 780, 165
19, 288, 925
22, 021,360
2, 047, 800
1, 129, 500
1, 053, 250
739, 200
1, 062, 000 .
1, 808, 360
120, 060, 850
107, 484,115
In the Appendix will be found a table giving the names of each of
the banks whose periods of succession terminate during the year 1885,
with their capital and^outstanding circulation. This table shows that
seven hundred and twenty national banks, with a combined capital
of $188,971,475, will thus terminate during the year 1885, unless their
stockholders avail themselves of the provisions of the act of July 12,
1882. From the experience of the last two years it is highly probable
the larger portion of.these banks will extend their corporate existence.
These associations represent more than one third of the entire capital
of the national bankiug system, and attention is respectfully called to
the large additional amount of labor the extension of these banks will
throw upon the oflice of the Comptroller of the Currency. This labor
will be augmented by the provisions of section 6 of the act referred to,
requiring that the circulating notes of aiiy association extending its
period of succession which shall have been issued to it prior to its extension shall be redeeraed at the Treasury of the IJnited States as provided in section 3, act of June 20, 1874, aud that such notes when
redeemed shall be forwarded to the Comptroller of the Currency and
destroyed as now provided by law, and that at the end of three years
from the date of the extension of each bank, the association so extended
shall deposit lawful nioney with the Treasurer of the United States
sufiicient to redeem the remainder of the circulation which was outstanding at the date of its extension.
The same section also jjrovides that the notes issued to such extendiug.
associations after the date of their extension, shall be of a difi'erent
design, easily distinguished from those issued before such date.
To carry out these provisions of section 6 requires the keeping of two
difierent accounts in the case of each extended bank—one for the old
and oue for the new circulation. During the year 1885 the work of
keeping the circulation accounts of about one half of the national banks
will be doubled.
CIRCULATION.
Under the iiresent provisions of law, national banks may be organized
with a capitalof from $50,000 to $150,000, upou depositing with the Treasurer of the United States, in trust, 25 per cent, of their capitahstock in
Uuited States bonds, and banks with a capital of upwards of $150,00(
128
REPORT ON THE FINANCES
<3an be organized upon the deposit of $50^000 of bonds. Upon this
basis the 2,664 national banks in existence in the United Statesand
Territories on October 1,1884, would require a minimum of but $80,443,127
of United States bonds in order to continue as national banking associations. There is no doubt but that the national banking system has
been of great value to this country in many ways other than the supIHying a sound and almost perfect paper currency. The additional
8afety afibrded to depositors by the restrictions and precautionary
l>rovisions of the act, the publicity of reports of the condition of the
banks, and tlie regular examination and supervision by ofiicers of the
Government, is well understood by the public, and i t i s probable that
the people would demand that if possible the system be continued,
even if the public debt be hereafter reduced to a point where it is
impossible for the banks to issue more than the amount of circulation
that can be secured by the minimum of bonds now required by law.
Although it is possible that the public confidence in national banks
will enable associations organized u n d e r t h e act to do a much larger
:iind more i:)rofitable business than if organized under the laws of the
various States, it is probable that were there no protits on circulation,
bankers as a rule might be unwilling to submit to the restrictions
which, as safeguards to the public, the national banking law compels
those who organize associations under it to submit to, and that therefore when the profit on circulation is reduced to a j)oint where it does
not compensate for the inconvenience ofthe restrictions, many national
banks, will leave the system.
.
.
Various plans have been advanced to perpetuate the issue by national banks of a circulation which should be safe fbr the public and
reasonably profitable to themselv^es, both during the period of the re<iuctiou of the bonded debt of the United States, and, aftej such debt
;shall .have been paid, it having been, suggested that under the latter
circumstances circulation might be issued upoh securities other,than
United States bonds.
The time of the final payinent of the debt is, however, yet distant,
^iUd with appropriate legislation there will probably be for many years
no lack of bonds as a safe basis of circulation. Moreover, no feasible
plan with other security has as yet been suggested, affording a sound
currency redeemableon demand in specie, and the Comptroller believes
that it is extremely doubtful whether after their experience for thelast
twenty years with the safe and convenient currency issued by the natioual banks, the people would be satisfied with a currency based on
any security other than United States bonds.
Public sentiment seems to be in favor of the payment of the public
•debt as rapidly as possible, and while no doubt this is in genera!a
correct principle, yet as it is apparent that such payment must extend
under the most favorable circumstances over a long future period, the
interest during which time is as much a portion of the debt as the principal, it is a question if it would not be of ultimate benefit to the country and a payment of the debt to reduce the interest upon it to a minimum rate and defer the payment of the principal, thus giving for many
years a safe basis for national-bank circulation. This course would be
particularly advantageous if the revenues of the Government are hererafter reduced to a point which, after providing sufficient means for
carrying on public business, will necessitate a more gradual reduction
of the principal of the debt. Not only is the future of national-bank
-circulation menaced by the fact that as the debt is paid it will be dif^
ficult to substitute any other secure basis for circulation, but it is also
129,
COMPTROLLER OF THE CURRENCY.
evident that under present laws and the present condition of the pub^
lie debt the banks caunot long afibrd to maintain even the circulation
now outstanding. The following table gives the various kinds and
amounts ofbonds held by the banks on November 1, 1883, and November 1, 1884:
•
•
•
1883.
T h r e e and a halfs
Threes
P o u r a n d a halfs
Pacij56 s i x e s
Pours
'.
.
...
.-
•
.
-
$632, 000
201, 327, 750
41, 319, 700
3, 463, 000
106,164, 850
352, 907, 300
1884.
$155,'604,
49, 537,
3, 469,
-116, 705,
400
450
000
450
325, 316, 300
Upon reference to this table it will be seen that the aggregate reduction of bonds deposited as security for circulation for the year, ending
November 1, 1884, was $27,591,000, and the changes were as follows: A
reduction of $45,723,350 iu amount of three per cent, bonds held; a reduction of $632,000, being all the three and one-half per cents held; an increase of $10,540,600 in four per cents; an increase of $8,217,750 in four
and one-half per cents, and an increase of $6,000 in Facific sixes. The
total reduction of bonds deposited to secure circulation would have been
much greater, but the financial troubles of May reduced the market
price ofthe four and four and one-half per cents, and banks were enabled for a time to replace their called three per cents by fours and four
and one-halfs at a price which afibrded an increased profit ou circulation, aud new banks took advantage of this state of affairs and also purchased fours and four and one-halfs for deposit to secure their circulation. It will be seen upon reference to the table that the banks held
on November 1, 1884, $155,604,400 of the three per cent, bonds under
the act of July 12,'^1882, payable at the pleasure of the Government.*
The total amount of these bonds outstanding oh November 1 was
$194,190,500, and it is probable that unless the surplus revenues are
greatly reduced these bonds will all be paid within the next two y'ears,
and, as has been pointed out by my predecessor in former reports, there
is great danger of a severe and rapid contraction of the circulation; for
while many banks will no doubt continue to replace a portion of their
called threes with other higher-rate and higher-priced bonds, the tendency is and. will be to reduce the circulation to the minimum required
by law. The following table shows the decrease of national-bank circulation during the years ending November 1, 1883, and November 1^
1884:
Natioiial-bank notes oatstanding November 1, 1882, including notes of national gold banks
$.362, 727, 747
Less lawful money on deposit at same date, including
deposits of gold banks
38,423,404
$324,304,343
National-bank notes outstanding November 1, 1883
Less lawful money on deposit November 1, 1883
Net decrease of circulation in 1883
352, 013, 787
35,993, 461
,
316,020,326
8,284, 017
* Of these bonds {^9,586,200 have been called for payment on which interest ceased
on November 1, 1884. If these bonds are not replaced l)y others bearing interest, there
will be an immediate further reduction in circulation of 90 per cent, of their amount.
5022 F — - 9
130
R E P O R T ON T H E FINANCES.
'National-bank notes outstanding November .1, 1883, ineluding notes of national gold banks
Less lawful'money on deposit at same date, including
deposits of national gold banks
;
^352,013,787
35,993,461
National-bank notes outstanding November 1, 1884, ineluding notes of national gold banks
Less laiwfal money on deposit a t same date, including
deposits of national gold banks.-...-
,
333,559,813
•
Net decrease of circulation in 1884. .^^
41,710,163
-—
1,020,326
291,849,650
24,170,676
It is probable that the reduction of circuiatiou will also be increased
by the withdrawal and sale of four per cent, bonds now deposited by
the banks in excess of the minimum r'equire4 by lavv, as the reduction
of the debt by the payment of threes will no doubt increase the xirice
of fours, owing to reinvestments of trust funds, &c., now, investedin
threes, and if for any reason the price advances, the^ banks will desire
to realize the premium for use in business or to divide as a profit among
their shareholders.
/
Drawing conclusions from these facts, the Comptroller estimates that
unless legislation shall^shortly be had which will enable the banks to
issue currency at a fair profit, circuiatiou will from the present time be
reiduced at the rate of at least $40,000,000 per annum.
I n the last reports of the Comptroller various suggestions were made
as to legislation which shouhi be enacted to prevent this raphl contraction of national-bank circulatioa, and the subject attracted much
attention .during the last session of Congress. The most prominent
measures were those introdueed in the Senate by Senators McPherson
and Aldrich, and in the House of Representatives by Mr. Potter.
The bill introduced by Senator McPherson provided that any national
banking association shall be entitled to receive from the Comptroller
of the Currency circulating notes not exceediug in amount the par value
of the bonds deposited, and further provides that the total amounts of
such notes issued to any association shall not exceed the amount of its
paid-in capitalstock. This bill passed the Senate aud was favorably
reported to the House by the Banking and Curreucy Committee, and is
now upon the regular calendar of the Hoiise. In case it should become
a law, it would increase the aggregate circuiatiou of uational banks
upon the basis of the present deposit of United States boiids with the
Treasurer in trust to the amount of about $32,000,000, and would increase the profit to the banks on circulation from two-fiftlis to threefifths of 1 per cent, per annum. No doubt the increased profits which
by this bill would inure to the banks would induce those holding tours
to continue to hold them, and the profits would probably be sufiicient to
induce banks who hold threes to replace them wheii called for redemption ,
with foiir per cents. The passage of this bill seems a simple and feasible
measure of relief to the banks, aud while it is possible that some bill
which provided for the funding of the high-rate bonds into bonds bearing a lower rate of interest would afibrd more permanent relief, the bill
of Senator McPherson is regarded as an excellent measure by the
Comptroller, and would not interfere with any iunding bill which might
hereafter become a law.
The bill introduced by Senator Aldrich provides for the exchange of
four per cent, consols of 1907 for three per cent, bonds having the >^ame
time to run. Under its provisions the Government pays a difi'erence
c>f 15 per cent, between the four per cents and the threes. The bill
COMPTROLLER OF THE CURRENCY.
131
also provides for the issuance of circulation equal in amount to the par
value of the bonds deposited. The additional profits accruing under
this bill, if it should become a law, would be from about one-half of 1
per cent, to about 1 per cent, per annum, according to the bank rates
for loans on the three per cent, bonds which replace the fours, and it is
believed that this would be a permanent measure of relief to the banks.
The bill introduced by Mr. Potter in the House provides for the refunding of the three, four, and four and one-half per cent, bonds into two
and one-half per cents payable at same time and to be redeemed in the
same manner as those for which they are exchanged. The bill also
provides for a reduction of the tax upon circulation based upon the
proposed two and one-half per cent, bonds of one-half of 1 per cent,
peraunum, while the tax upon circuiatiou based upon all other classes
of United States bonds remains at 1 per cent, per annum. Under this
bill the provisions for obtaining currency on the bonds deposited would
be the same as under the present law, viz, 90 per cent, of the par value
of the bouds deposited. The bill, so far as the funding of the high-rate
bonds is concerned, is similar to the Aldrich bill, the latter providing
for the refunding of the fours onl.y. It is believed by many that the
provisions in the Potter bill relating to the purchase of the bonds by
the Secretary of the Treasury would be somewhat difficult to carry out,
and it is a question whether it would be constitutional for Congress to
make any discriminations iu the tax imposed on circuiatiou based on
difierent classes of United States bonds, as it must be remembered that
the tax is on the circulation and not on the bouds. ' If this- bill, with
some modifications, should become a law, no doubt the additional profits
which would accrue to the banks under its operatiou would be a permanent benefit and assist in preventing the contraction of the currency.
A table has beeu prepared, and will be found iu the Appendix, which
shows the additional circulation which the banks in each State would
be entitled to in case a law is enacted permitting them to issue circulation to the amount of the par value of the bouds deposited in trust with
the Treasurer ofthe United States.
The measures which were introduced at the last session of Congress
involving a funding of the public debt provided that the bonds issued
in exchange for those now outstanding shall have the same time of
maturity as those for which.they are exchanged. No provision is made
by these bills to enable the Government to use any surplus revenue
which it may desire to devote to the payment of the public debt duriug
the loug periods between the maturities of the xiresent four and one-half
and four per cent, bonds.
The following table shows the bonded debt of the United States on
November 1, 1884:
Three per cents, payable option United States
Four and a half ^ev cents, payable September 1, 1891
Pacific Railway sixes, payable January 16 and November
1, 1895
Pacific Railway
1896....
Facific Railway
Pacific Railway
Paciiic Railway
.'
,
;
$194,190,500
250,000,000
$3,002,000
sixes, payable January 1 and February 1,
.:....
8,000,000
sixes, payable January 1, 1897
9,712,000
sixes, payable January 1, 1898
29,904, 952
sixes, payable January 1, 1899
14, 004, 560
Four per cents, payable July 1, 1907
Total
'
:
64,623,512
737,691,550
1,246,505,562
NOTB.—The Navy peusion fuud, amounting to |14,000,000 in three percents, the
interest upon which is applied to the payment of naval pensions exclusively, aud
|264,800 of four per cent, refunding certificates, are not included in the table.
132 "^.", '• /
• REPORT ON'THE FINANCES, f •
It will be seen upon an examination of this table that there are .
$194,19p,5Q0 of three per cent, bonds now payable at the.pleasure of
the Government. These bonds will probably be x^^W within;the next two years, even if considerable changes are made in the tarifi*; and from
' 1887 to 1891, when the $250,000,000 of four and one-half per cents shown
by the table mature, there will be no bonds which the Government can
call in for redemption. No doubt the accumulation of surplus reveuue,
if it continues to accrue at the x^i'^sent rate during the four years between 1887 and 189i; together with the revenues of 1892, will.be more
than sufficientto pay ofi' the four and one-half per cents; and from 1892
until 1907 it will be impossible for the Government to use any of its
surxilus revenues for the payment of its bonds except at the option of
. their holders. It is apparent that the Government caunot accumulate
and hold its surplus revenues, even during the short period from 1887
to 1892, without great disturbances to the business interests of the country, and much less can it do so duringthe longer period from 1892 to 1907:
It appears, therefore, that the foregoing considerations should be
given due weight in any plan for the funding of the four per cent, bonds
inaturing in 1907, and the Comptroller therefore suggests that the principal difficulties of the situation may, perhaps, be obviated, as well as
the^ reduction of interest efiected, by funding these l)onds into others
"which shall mature in proportionate amounts at certain fixed intervals.
Thus the $738,000,000 of four per cents might be funded into an equal
amount of three or two and one-half per cent, bonds, one fifth of which,, '
^ or $147,600,000, to mature at intervals of five years, the first installment falling due July 1, 1897, and the remaining installmeuts of
$147,600,000 each on the first of July in the last year of each succeeding perioid of five years, viz., 1902, 1907, 1912, and 1917. The, average
maturity of these five classes of bonds would be the same as that of the
present four per cents, viz, July 1, 1907.*
'
*While considering thequestion of refunding the high-rate bonds forming the principal part of the public debt into bonds bearing a lower rate of interest, and paying
a premium to the holders of the former to compensate them for any disadvantage inthe exchange, it is interesting to note t h a t the English Government, by,an act passed
at the last session of Parliament, provided for the conversion of a,large portion of its
national debt bearing interest at 3 per cent, into two classes of st6ck, bearing interest, one at 2f and the other at 2^ per cent., on the basis of a difPerenee of 2 per cent.. •
between the threes and the 2f per.cent, stock, and of 8 per cent, between the threesand the 2^ per cent, stock, this difference. or bonus to accrue to the holders of the
, thre'es.
As the English Government does not appear to have a surplus revenue available '
to pay the difference in cash, it is added to the face of the lower rate stocks given in
exchange. The act which authorizes this exchange is not compulsory, and if the
conversion takes place, it will be'through the voluntary action of the holders of the .
higher-rate stock. The Chancellor of the Exchequer, however, claims t h a t n n d e r an old law or regulation'he has compulsory poAver and can call some six huudred and
twelve millions sterling of 3 per cent, stocks upon giving a year's notice. Although'
this view is disputed,* it has had the effect to depreciate the,3'per cent, stock, and will
no doubt have an effect in inducing holders of threes to convert on the terms offered,
into the new stocks.
.^
.
The editor ofthe London Bankers' Magazincj in commenting upon the action of the ^
Government, remarks t h a t ' ' t h e mass of threes (which it is claimed can be called) "
is so large, t h a t it may very probably prove a difficult matter to deal with the whole
if paid off' compulsorily." Another comment is that, " h a d the debt of t h e British
Government been divided into separate funds of moderate amount, the operation (of .
funding) would have been comparatively an easy one. As matters stand, there will
probably be great difficulty in ca.rrying the operation through.''
From the foregoing it appears quite evident t h a t the successful funding of the debti
of the United States from time to time into bonds bearing lower rates of interest has
attracted the favorable attention of the English Government. I t i s particularly to benoted t h a t t h e proposed 2f and 2^ per cent, stocks are to mature in'1905, t h a t is, they :
are to become payable at the option of the Government at a fiixed date twenty years-
COMPTROLLER OF THE CURRENCY.
133
The surplus revenue could, by this plan, be used after July 1, 1897,
and July 1, 1902, as well as after July 1, 1907, in xiaying the xiublic
debt; and it is believed that any disadA^antage there might be to the
Government in postponing the x>ayment of one-fifth, ofthe dehp now iu
fours due in 1907 until after 1912, and another fifth until after 1917,
would be more than ofiset by the benefit derived from the opportunity
of paying one fifth after 1897, and another fifth after 1902. The reduction, of 1 x^er cent, per annum in the interest, if threes be issued,
would be a direct benefit to the Government in the same inanner as
Xwovided in the Aldrich bill; but while under that bill the amount of
premium paid by the Government to induce the acceptance of asthree
X^er cent, bond payable in 1907 for a four I^QY cent, bond maturing at
the ; same date will be at a fixed rate for the total amount exchanged,
it is believed that in the case of this proposition the rather larger xiremium that might have to be paid in exchanging threes due in 1897 and
1902 for fours of 1907 would be more than compensated by the smaller
premiums paid in exchanging the threes of 1912 and 1917 for the same
fours. In other words, thie aggregate amount paid in premiums in exchanging bonds under the plan now suggested would xirobably be not
more and xDOSsibly less than 15 per cent.
It is important to the success of this plan that in carry ing it into practice each holder of four per cent, bonds who accex-)ts the xiroposed threes
in exchange should take one-fifth of the amountof his fours in each class
of threes. Thus the holder of a $500 four per cent, bond of 1907 would
receive five three per cent, bonds of $100 each, one maturing on July 1,
1897, and the remaining four on July 1, 1902, 1907, 1912, and 1917, respectively.*
Wha^tever course may be deemed expedient by Congress iu regard to
the funding or future ])a>ment of the public debt, the Comptroller is
of the opinion that it is x^^ii'fectly safe and will afibrd great benefit to
the public to permit an issue by the ifational banks of circulation to
the extent of 100 per cent, of the par value of the bonds deposited
instead of 90 per cent., as under the present law, and t h a t t h e xiresent
limit of issue to 90 per cent, of the paid-in capital stock should also
be extended to 100 per cent, of such paid-in capital. Two of the bills
after the date of their issue, and cannot be called before tbat date. This is a new
departure in the management of the public debt of Great Britain. The attitude of
the .Chancellor of the lixchequer seems to indicate t h a t he has particularly iu view
the funding of our 5s and 6s into 3^ per cents in 1881. His proposed method of carrying out the act of Parliament referred to is very similar in principle to t h a t adopted
by Secretary Windom in 1881.
On October 17, 1884, being the expiration of the period under which proposals were
received by the Chancellor for the conversion of the 3 per cents., the total amount of
s.tock of private holders t h a t had been converted was but £9,686,000, or less than If
per cent, of the entire 3 per ceut. stock held by the public. It would appear, therefore, that the conversion of 3 per cent. English consols into stock of a lower rate of
interest is not i^opular, although the lower-rate stocks have a minimum of twenty
years to run, and notwithstanding the premium offered by the Government.
* A computation based upou the realized rate to the Government or any investor in
four per cent, bonds having twenty-two years to run from July. 1, 1885, at a marltet
rate of 120 indicates t h a t the average difference in present value between three, per
cent, bonds maturing at the dates mentioned and a four per cent, bond maturing in
1907 is abput sixteen per cent. I t is believed that the desirability of the long-time
. bonds for bankiug and trust purposes would induce the bankers and the public to
make the exchange for a less difference than sixteen per cent., which is simply the
mathematical difference. The history of sepurities put out by Governments whose
•credit is unquestioned shows t h a t the long-time securities are invariably considered
t h e most valuable, and that the premium paid for such securities is more iu proportion than would naturally be indicated by a computation based upon any present
realized rate of interest.
The foUowing table has been prepared by E. B. Elliott, esq.. Government actuary,
in order to show the difference in value between three and four per cent, bonds ma
134
R E P O R T ON T H E
FINANCES.
already.referred to as introduced at the last session of Congress contained these provisions. Even admitting that the bonds representing
the public debt when funded at lower rates might at times in the
future be below par in the market, the Government would, if forced
, to redeem the notes of insolvent national banks, always have the right
to cancel the bonds on dex30sit securing the same, and thus extinguish
an amount of its debt equal dollar for dollar to the notes redeemed.
It would also gain from such notes as are never xiresented for redemption, which form a certain percentage, in the case of the circulation of
each and every bank, and taking all banks together would form a large,
reserve fund.' Tables in relation to this gain may be found in the
Appendix.
'
' I t is further submitted that the profit on circulation may be increased
to a point which will induce the banks to keep up their circulation to a
niaximum, and stop the contraction of their circulation which is now
occurring, by repealing the law taxing such circulation at the rate of
one-half of 1 per cent, semi-annually. This tax is regarded by many
as only a fair bonus to the Goveinment for the privilege of issuing circulation which the banks receive from it, and in times when the Government needed the money and when the profit on circulation was
comparatively great this view had much in its favor. But under existing circumstiauces* the Government should in justice either enact laws
turing at the periods mentioned, computing on a basis of the realized rate to the Governnient-at 1.20 for four per. cent, bonds having twenty-two years to r u n ;
'
Tear.
Pours.•
1897
1902
1907
1912'
1917
•
...'
.
.
...
•
.
•
-
--
..
Threes.
Dlffer.ence.
'
)
r
.•
• ' . . . . . A
-
1
1
1.20
r
1
^
1
I
1.0222
1. 0295
1.03.59
1.0474
1.0462
1778
1705
1641
1586
1538
•
* Thefollowing table shows the annuual per centage of profits bn circulation, at rates
of interest for bank loans from 5 to 8 per cent., based on 4 per cent, bonds of 1907, having tweiity two and a half years to run, 'the average market price for the year being ,
1.215529, and based on 4-^ per ceut. bonds having seven years to run, the average market price for the year being 1.127131. Tliere are three rates of profit shown on each
class of bonds, each derived by a different method of computation. The method by
which the first figures in each case are obtained assumes t h a t the premium paid would
be made up by a sinking fund at compound interest, and also t h a t the 5 per cent, redemption fund which banks are required to keep is no charge on circulation account.
The second figures are obtained assuming a sinking fund similar to that in the first
method, but that the 5 per cent, fund is a charge on circulation account, and reduces
the loanable circnlation.
The third figures are obtained by a method which assumes t h a t the premium is
reduced by charging off an equal proportiou each year, according to the time t h e
bonds have tb run, and t h a t the 5 per cent, fund is no charge on circulation. The
figures generally show t h a t under average conditions a national bank issuing circulation, based on either 4 or 4^ per eent. bonds, at ordinary rates of interest for b a n k
loans, receives an average profit of not more than one-half of 1 per cent.
•
Classes of bonds.
Pours of 1907
Pour and a halfs of 1891 .
P r o f i t w i t h P r o f i t w i t h Profit with Profit with
l o a n s a t 5 l o a n s a t 6 loans at 7 loans at .8
per cent.
per cent.
per cent.
p e r cent.
•. 00781
. 00596
. 00439
' . 00803
. 00604
.00548
. 00590
. 00368
.00180
.00650 1
.00410
.00350 j
. 00380
.00121
. OOOOO
.00480
. 00215
. 00145
.00162
. OOOOO
. OOOOO
.00337
.00018
.eoboo
COMPTROLLER OF THE CURRENCY.
135
which will make the issue of circulation a real privilege, or it should
remove the tax, which uuder present laws is fast becoming prohibitoryoAs it now stands, the Government is exacting a bonus for a privilege
which no longer exists, and the inevitable consequence of the continued
collectionof the tax without measures of relief iu other directions \Yill
be the gradual retirement of this form of circulating medium.
The expenses of keeping up the national banking systein by the Gov-ernment are at present paid iii part frora the proceeds of this tax and
in part by assessment on the banks. If the tax be aboUshed. all of these
expenses should be paid by the last-named method. Under the head
of ^'Taxation,''on x^ajge 65, will be found a detailed statement of the
amount received-from the tax ori circulation and ofthe very small proxiortion used in payment of expenses of the Government iu keexiing up
the system.
' In concluding this subject the Comxitroller wishes to have it distinctly
understood that he is not in favor of any measure which will cause infiation. He is of the opinion that the present aggregate paper circulation, made up of legal-ten der and national bank-notes and of gold and
silver certificates, is ample for all the needs of business. He believe-,
however, that the sudden contraction of national-bank circulation.^
wdiich without apxnopriate legislation is imminent, will seriously embarrass the business of the country, and that if this contraction is permitted to go on, it may result in the entire discontinuance of the issue
of notes by national banks. The Comptroller believes that this form
of currency, wiiich can be increased or diminished in accordance with
the natural laws which control business, should be continued in xireference to any other now xiermitted bylaw. If at any time the ^aggregate
of'outstanding paxier becomes too great, reduction should be made by
retiring the direct issues of the Government, in view of the fact that
the most eminent authorities in finance agree that such direct issues
are in the long run highly detrimental and fraught with danger. A
bank circulation as well secured and convenient as that ofthe banks in
the uational system, with a credit so deservedly well established in the
minds of the peox)le, should not be xiermitted to go out of existence.
CIRCULATION BASED ON SILVER.
Notwithstanding the fact that the national banking circulation of
the country has been reduced about 24 raillions during the past year,
on account of the redemxDtion and payment of the 3 per cent. United
States bonds, held as security for' the same, and is likely to continue
to be reduced as the debt is paid, the circulating medium of the country has been increased by the issuance of silver certificates under the
•act of February 28, 1878, these certificates being issued upon standard
silver dollars, of which at least 2 millions are coined every month of
the year.
The perxDlexities of bimetallism and the silver question have attracted attention and interested the public for many years. Statistics havebeen worn threadbare, and the nuinber of articles and essays
that have been written on this subject are of almost interminable extent. The law making it mandatory on the Secretary of the Treasury
tb coin each month 2 millions of what are called standard silver dollars,
or, in other words, the stamping of 2 million pieces of silver of 412^
grains in weight each as a dollar, no doubt was intended to appreciate
the price of silver and to bring this precious metal into more geueral
use as money. As the production of silver iu the United States is so
• ;13:6 ••:••••'•• v
./'/REPORT?' ON THE/FINANCES. '
• ' '' '
large, the Government should do all in its, power to sustain the value
oi silver and promote its circuiatiou as money by. appropriate legislation, but it is submitted that the operation of the present law defeats
the object in view.
, .
The exact relative position of silver to gold in the commercial world
is extremely difiicult to determine, ^ o one can gainsay the fact that
in our commercial relations with England and other countries we must
settle our exchanges upou a gold basis. This being true, necessarily,
we can use silver in settlement of international balances only at its
inarket price. This market price tests the proportionate value ofsilver
as eompared with gold. The present market xirice of silver throughout
the world shows that the intrinsic value of a dollar weighing 412| grains
is about 85.20 cents. The law, therefore, which compels the coinage of
2 millions of standard silverdollars per month is an arbitrary attempt
to make the price of silver more dear by fixing a ratio between gold
and silver for the people of this country difierent from the ratio fixed
by the market price, making the standard silver dollar practically a
depreciated currency as compared with the gold coin of the country,
and with the legal-tender and national-bank notes, which are redeemable in gold at par. It has been and still is contended by many that if
the United States as a nation takes strong ground in favor of bimetallism and insists upon the recognition of silver as mouey, valued in
proportion to gold at the ratio of 15J. to 1, that its comparative market
value can be increased. ,
The practical working of the silver bill seems to prove the folly of
'this position. For sbme reason or other the intrinsic value of silver
has decreased in a greater x3roportion than that of gold. This reason
is exceedingly difficult to determine. In fact it is next to impossible to
obtain the data and draw the deductions to ascertain the reason why
the changes in the ratio or proportion of the value of gold to that of
/silver have invariably throughout the world been against silven Some
statistieians assert that the annual increase of gold throughout the world
is at least If,per cent, of the worlds total stock of gold money, while as
to silver it is claimed the increase is only about 1 per cent, of the total
stock of silver money.* If this calculation is correct, some other reasons
than those based on the proportionate production of gold and silver
must be brought forward to prove that the increased production of silver over gold has depreciated the value of the former, for there is no
question but that the purchasing power of silver, in xiroportion to the
.purchasing power of gold, has steadily decreased for more than a thousand years. Perhaps one reason for this depreciation in value is the inconvenience of silver as a circulating medium as compared with gold.
I t is proportionately to value about fifteen and'a half times as heavy
and nearly twenty-eight and a half times as bulky.
.
«
Whether its weight and bulk be the cause or'not, the fact is undoubted that in this age ofthe civilized world the people have a strong
distaste to the use of silver as a circulating medium in the form of coins
/ weighing four hundred grains or more.
Trie law which stamps 412^' grains of silver and arbitrarily insists
upon its circulation as a dollar, tvith unlimited legal-tender qualities^
' when its true value as indicated by the market price of silver is but
85.2 cents, is unworthy of this nation, and will sooner or later /bring
upon us financial trouble and disgrace. The practical working of the
silver coinage act has established the fact that the public do not
.
'
^ M r . S . D a n a Horton.
-
.
'
' ^
COMPTROLLER OF THE CURRENCY.
' 137
readily accex)t, circulate, and do business with these standard silver
dollars. In order to insist upon the arbitrary value which has been
^xed upon silver by law, Congress has ingeniously arranged to permit
the x^eox^le to deposit their inconvenient silver coins in the Treasury
of the United States and obtain therefor certificates which represent
a certaiu uumber of these dollars. These certificates, being a convenient circulating medium, were first used for shipments from commercial centers to the South and West for the purpose of supplying currency for moving the crops. As legal-tender and national-bank notes
are frequently in limited supx)ly during the fall months, the con-,
venience of obtaining these certiticates and thereby saving express
charges on gold which would otherwise have to be shixiped has caused
the eirculation of many millions among the people of the country.* The
public, who daily receive and disburse these certificates, hardly realize
that the intrinsic vaiue of the silver which is represented by a $10 silver certificate is but $8.52; neither do they realize that the certificate
is not a promise to x^ay on the part of the United Stales, but simply a
Xiromise to return to the bearer ten 412J-grain silver dollars.
If itis for the best interests of the United States to issue a circulation
based ux^on silver, the Comptroller believes that the circuiatiou should
be issued upon coin or bullion which Contains a sufficient nuraber of
' grains of silver to have an intrinsic value equal in the markets of the
world to its nominal value.
Some writers have suggested that a circulating medium might be based
ux3on bullion, both gold and silver, and the Comptroller is of the opinion
that under certain restrictions and regulations it would be far more
correct in principle to issue silver certificates based upon a deposit of
silver bullion, to be valued in the exact proportion of silver to gold,
than to coutinue the issue of certificates uuder the xiresent law. If this
were done, silver bars might be stamped at their market value and held
in: the Treasury for tlie redemptiou of the certificates, which should call
aix amouut of silver equal m value to their nominal or face value exxiressed in gold. The bullion represented by certificates should be periodically valued at its market price in gold, and a certain proportionate
amountof silver so held might, perhaps, be coined to provide the means
for redemption of the certificates, if redemption was desired for business
X>"^i'poses. These dollars should be in the nature of a subsidiary coin
and should be reconvertible into bullion certificates.
The actual circulation of the silver dollar under the present law indi cates
that the necessary numberof coins required probably would not exceed
$50,000,000. This plan might possibly bring about a loss to the Government by the depreciation of silver, which loss, however, would be
partially borne by the certificates which were lost and destroyed, as it is
well known that from the loss and destruction of legal tenders and n'ational bank notes the Government is even now a large gainer. The
Comptroller believes t h a t the use of silver as money in this manner,
and its periodical valuation, would have more infiuence in appreciating
. the market value of silver among the nations of the world than the
present arbitrary coinage of 412J grains of silver as a dollar.*
* From information, derived from the Treasurer o f t h e United Sfcates, it is found
t h a t silver ccrtificat»-s issued at the subtreasuries in the west aud south, ou deposits
®t' gold coin with the Assistant Treasurer of the United States at New York from
Septeraber 18, 1880, to October 31,1884, amounted to $69,625,500
*^Consideriug the strong ground taken against bimetalli'^m by the British Government, apparently for the reasou that it is difficult to ascertain the intrinsic value ol
silver as compared wifch gold, it is interesting to note t h a t the Chancellor ol the Exchequer, Mr. Childers, iu his budget speech of the 24th of April, proposed, in order
.138
REPORT ON THE FINANCES.
These reflections are upon the theory held by many, that it is for the
best interests of this couutry to maintain a circulation based upon silver. The Comptroller doubts the correctness of this theory; but it is
submitted that the circulation now outstanding based on siiver,is a depreciated currency, by the issue of which the Government has gained
at the expense of the people who now hold the silver dollars and ^certificates, and that therefore it is incumbent on the Government, if it continues to issue circulation based upon silver, to do so under a plan which
will not only xirovide a sound,circulatioii for the future, but3 also prevent
the holders of the present certificates and dollars from sustaining loss.
This might all be accomplished by exchanging the bullion certificates
suggested for the silver-dollar certificates now outstanding.
The issue of currency based upou silver shonld not, however, be unlimited, and the present laws making the purchase and coinage of a
fixed amount of silver bullion mandatory are very pernicious in their
efi'ect, as the unlimited and continued issuance of fnll legaltender silver
eoin and eertificates based'thereon, of intrinsic value less than their
face, has already caused the hoarding of gold, and wiil eventually drive
it from the channels of trade, thereby causing a practical suspension of
gold payments. There are many indications of this, notably the uneasiness in financial circles in June 'and July last, caused by the reserve of
gold in the Treasury falling so near to the p^^int at which under the
law the issuance of gold certificates ceases. It is also to be observed
that during the present year the national banks throughout the country
have increased their holdings of gold, including certificates, in the sum
. of $19,61.5,350. .
,: '"
The aniount of silver bullion purchased by the Government under
the^act of February 28, 1878, for coinage into standard silverdollars
was, from the 1st of July, 1878, to the 1st of July, 1884,144,366,242,4^
standard ounces, costing $146,631,495.26. The number of silver dollars
coined underthe provisions of the act of February 28, 1878, up to November 1,1884, amount to 184,730,829. The profits to the Government
on the coinage ofsilver from July 1, 1878, to Juue 30, 1884, amount
to $20,972,913.52.* Of the silver dollars coined $142,926,725 remain,
in the Treasury ofthe United States, leaving incirculation $41,804,104.
Silver certiticates have been issued, which are represented by t h e
standard silver dollars in the Treasury of the United States, to the
amouut of $131,556,531. Of the silver certificates so issued $30,814,970
remain in the, Treasury of the United States, leaving $100,471,561 of
these certificates in circulation. It will be seen, therefore, that of the
total amount of silver dollars coined but $41,804,104 are in actual circulation, and that the people of the Uriited States now hold a paper
circulation based upon silver dollars in an amount equal to more than
one-third of the national-bank circulation.
to restorefc,hegold coiuage of England to its nominal value, to issue a depreciated
half sovereign. In other words Mr. Childers's plan is t h a t the Government shall
issue to the people a half sovereign containing only nine-tenths of the amount of gold
ait present contained in t h a t coin,, rathei; than have the Government bear the loss ot
t h e recoinage of the ontstanding sovereigns and half sovereigns which are known tobe light. , This new half-sovereign is to be legal tender to the amount of £(^ only, b u t
i t seems a noticeable fact t h a t the Chancellor of t h e Exchequer should submit in his
annual budget a proposition to debase one of the gold coins of the United Kingdom,
a country which has heretofore been so particular as to its monej^ standards. Although it is not proposed to change the intrinsic value, of the sovereign, this alteration o f t h e value o f t h e half-sovereign would no doubt have fche effect of discrediting
' t h e gold coinage of England, which has for many years been recognized throughout
the world as an almost infallible standard of value.
* Tliese figures have been obtained from the honorable Director ofthe Mint.
COMPTROLLER OF THE CURRENCY.
139
DISTRIBUTION OF COIN AND P A P E R CURRENCY.
In previous rexiorts tables have been given showing the amount of
coin and currency in the country aud its distribution in the Treasury,
in the banks, and among the xieople, on January 1, 1879, the da'te of
the resumxition of specie xiayments, and ou !N^ovember 1 of each of the
last four years precediug the date of the report. These tables are
again presented, the amounts on JSTovember 1, 188iJ, being omitted,
while those on November 1, 1884, are added.
The amounts of gold and silver in the country available for circulation are based upon the estimates of the Director of the Mint for January 1, 1879. The amounts of gold for the succeeding dates have been,
obtained by adding the gold production of the country, less the amounts
used in the arts, from estimates of the same ofiicer, adding the excess
of gold importation's during the year, or deducting the excess of gold
exportations for the same period, according to the reports of the Bureau'
of Statistics. The amounts of silver are obtained by adding for each
year the amount of silver dollars and fractional coinage, less amouuts
recoined. For the year 1884 the silver bullion X3urchased by the Government for coinage and on hand on'Novem ber 1 is included.
From November 1, 1883, to Noveraber I, 1884, the production of gold
b y t h e mines of the United States is estimated to have been about
, $29,000,000. During the period from November 1, 1883, to October 1,
1884, th'e amountof gold, foreign and domestic gold coin and bullion ex: ported in excess of the amount imported has been $20,483,382, making
an increase in the stock of gold in the country of $8,516,618. From this ~
amount must be deducted the araount used in the arts during the same
Xieriod ($4,875,000), leaving $3,641,618 as the increase in the stock of
gold coiu and bullion in the country.
The total excess of imx)orts of gold over exports of the same from the
date of resumption to October 1, 1884, has been $165,712,128, and the
total estiinated gold product of the mines of the United States for the
same period has been about $191,725,000. The total amount of silvier
coined during the year has been, after deducting the recoinage,
$28,387,010, of which $28,009,880 were standard silver dollars. The
total amount of the latter coined since the x)assage of the act of February 28,1878, authorizing that coinage, up to November 1, 1884, has
been $184,730,829.
The following table, based upon the estimates and figures given'
above, shows the amount of coin and currency in the country on January 1, 1879, and on November 1 of the years named:
Crold coin and bullion
Silver coin
Legal-tender notes
National-bank notes.."
Totals
January
1, 1879".
JSTovember
1, 1881.
November
1, 1882.
November
1, 1883.
$278, 310,126
106,573,803
346, 681, 016
323,791,674
$550, 922, 398
181, 476,144
346,681,016
360, 344, 250
$547, 356, 262
208, 744, 424
346,681,016
362, 727, 747
$581, 970, 254
242, 701, 932
346, 681, 016
352, 013, 787
1,055,350,619
1, 439, 423, 808 1, 465, 509, 449 1, 523, 366, 989
November
1, 1884.
$585, 611, 872
275, 735,439
346, 681, 016
*333, 559, 813
1,-541,588,140
*Tlie sum of $41,710,163 iu lawful money has been deposited by the national banks to retire circulation of a like amount which has not yet been presented for redemption.
There has been no change in the aggregate of legal-tender notes outstanding, which still remains as fixed by the act of May 31, 1878. Nationaibank notes have decreased $18,453,974 during the year; the
140
REPORT ON THE FINANCES.
amounts of gold and silver have increased $3,641,618, and $33,033,507,
respectively, making the total increase during the vear in gold, silver,
-and currency, $18,221,151.
• / ^
^^ • .
The table below gives the portion of the gold, silver, and currency
held by the United States Treasury and by the national and State banks.
The amounts in the United States Treasury are for the corresponding
dates with those in the preceding table. The amounts in the national
banks are for the corresponding dates nearest thereto on,which returns
were made to the Comptioller, viz : January 1,1879; October 1, 1881:
October 3, 1882; October ,2, 1883; and September 30, 1884. The
amounts in the State banks, trust companies, and savings banks have
been compiled in this office from official reports for the nearest obtainable dates.
January
1,1879.
November
1,1881.
-
November
1,1882.
November
1,1883.
Novembeir
1,1884.
GOLD.
In* the Treasury, less certifi$112, 703, 342
$167,781,909
35,039,201
107; 222,169
94,127,324
97, 570, 057
10, 937, 812
19,901,491
. - 17, 892, 500
18, 255, 300
158, 680, 355
294, 905, 569
260,455,297
273,179,117
In the Treasury, standard silver dollars ..
..-...•...
17, 249, 740
In the Treasury, bullion
, 9,121, 417
In the Treasury, fractional coin . 6 , 048,194
lu natioual bauks
(i. 4 no, 557
66,576,378
3, 424, 575
25,984,687
I n national banks, including
certiiicates
- • ...;.
.In State banks, including certificates
Total o-old
.
$148, 435, 473 .$157,353,760'
$134, 670, 790
117,185, 407
25, 928, 757
277 7 8 4 Q54
SILVER.
Total silver
'
38, 879, 908
7. 112. .567'
92, 414, 977'
4, 012, 503
26,749,482
8, 234, 739
103,098,207
,131,411,701
116,036,450
4, 936, 365
26, 712, 424
10, 247, 926
157,933,165
.
142,926,725
4.646,497
29, 346, 757
8,092,557
185, 012, 536
. CUKRENCY.
I n t h e Treasury, less' certifi' cates '.
In national banks, iucluding
certificates
.. . .
I n S t a t e b a n k s , 'including certificates
I n isavings b a n k s
44, 425, 655
22, 774, 830
26, 224, 248
30.996,217
26, 258i 827
126,491,720
' 77, 630, 917
92, 544, 767
103, 316, 809
114,507,113
25, 944, 485
14,513,779
27, 391, 317
11, 782, 243
27, 086, 482
14, 724, 978
28, 259, 062
12, 998, 594 '
32,659,605
14, 079, 452
Total curreiicy
211, 375, 639
139,579,307
160, 580, 475
175, 570, 682
187, 504, 997
Grand totals
40"8, 935, 902
537, 583, 083
552, 447, 473
606,682,964
650, 302,487
If the aggregates of gold, silver, and currency for the several dates in
the above table be deducted from the amounts of the same items at corresponding dates in the table which precedes it, the remainders will be,
approximately,^ the amounts in the hands ofthe people at corresponding dates.
'
' "
Crold
Silyer....
Gurrency
TotaL
January
1,1879.
- . $119, 629, 771
. 67,693,895
, 459,097,051
:....
..........
646, 420, 717
'
November
1, 1881.
November
*• 1,1882. ,
November
1,1883.
$256, 016, 829
78, 377, 937
567, 445, 959
$286, 900, 905
. 77,332,723
548, 828, 288
$308,-791,137'
84, 768, 767
523,124,121
$307,826,918
90, 722. 903
492, 735, 832
901,840,-725
913, 061, 976
916, 684, 025
891,285,653
November
1,1884. "
:
COMPTROLLER OF THE CURRENCY.
141
The gold iu the Treasury, iucluding bullion in the xirocess of coinage,
has decreased during the year $22,682,970, and in the banks has increased $27,288,807. The paxier currency in the Treasury has decreased
$4,737,390, and in the banks has increased $16,671,605. The decrease
of gold outside of the Treasury aud the banks has been $964,219, and
of silver coin $5,954,136, and the decrease of paper currency exclusive
of silver certificates, $30,388,289. In the foregoing tables the silver
certificates issued by the Treasury have not been included, but the
standard silver dollars held for their redemption on presentation forra
a portion of the silver coiu in the Treasury. The silver eertificates in
the hands of the x^eox^le and the banks at the Ibllowing dates were a>s
follows:
J a n u a r y ! , 1879
Novemi)er 1, 1880
Noveraber 1, 1881
Noveraber 1,1882
N o v e m b e r l , 1883
November 1,1884
:
-^
'.
$413,360
19,780,240
58,838,770
65,620,450
85,334,381
100,741,502
It will be seen that the amount of these certificates in circulation has
increased $15,407,180 duriug the.year 1884.
The gold certiiicates issued under section 12 of the act of July 12,
1882, outstanding in the hands of the peoxde and banks on November
1, 1882, November 1, 1883, and November 1, 1884, not including the
amount in the Treasury, were $6,962,280, $48,869,940, and $85,301,190,
respectively.
As before stated, the total amount of standard silver dollars coined
up to November 1, 1884, was $184,730,829, of which, asshown in one of
the foregoing tables, $142,926,726 was then in the Treasury, although
an araount equal to $100,741,561 was represented by certificates in the
liands of the people and the banks, leaving $42,185,165 then held^by
the Treasury. Of the $184,730,829 coined,' $41,804,103 was therefpre
evidently outside of the Treasury, and $100,741,561 of the amount in the
Treasury was represented by certificates in circulation. The remainder
ofthe silver, $91,004,610, consisted of subsidiary coin, trade dollars, and
bullion purchased for coinage, of which $33,993,284 was in the Treasury, and about $57,011,326, was iu use with the people aud the banks,
consisting principal^' of subsidiary coin, in the xilace ofthe pa^x^er fractional currency for which it was substituted.
; The increase of gold and silver coin and paper currency, exclusive of
silver certificates, outside of the Treasury and the banks, siuce the date
of resumption, is thus estimated to have been $263,956,936, and the decrease during theyear ending November 1', 1883, $6,306,372. To.these
sums the amounts of silver certificates in the hands of the people may be
added. Ou November 1, 1883, the amount of these certificates^ held by
the people and the banks was, as has been seen, $100,741,561; but the
proportion of this amount in the hands of the people cannot be exactly
determined.
SPECIE IN BANK AND IN THE TREASURY OF THE UNITED STATES, AND
[ ESTIMATED AMOUNT IN THE COUNTRY—SPECIE IN THE BANK OF
EN OL AND AND IN THE BANK OF FRANCE.
,
! The following table exhibits the amounts of specie held by the national banks at the dates of their reports for the last eleven- years, the
142
REPORT ON THE FINANCES.
coin aild coin certificates held by the New York Oity banks being stated
separately:
^
Held by national b a n k s in N e w T o r k City:
Dates.
Coin,
Sepf. 12,1873.
D e c . 26, 1873.
F e b . 27, 1874.
M a y . 1, 1874.
J u n e 26,1874.
2, 1874Oet.
Bee.
31.1874.
1,1875.
Mar.
1,1875.
May
J u n e 30, 1875Oct.
1.1875Dec.
17.1875.
M a r . 10,1876.
M a y 12, 1876.
' J u n e 30,1876O c t . . 2, 1876.
D e c . 22, 1876.
J a n . 20,1877.
A p r . 14,1877.
J u n e 22,1877.
Oct.
1,1877.
D e c . 28,1877.
M a r . 4 5 , 1878.
May
1, 1878'
J u n e 29, 1878.
1,1878Oct.
Dec.
6, 1878.
J a n . .1,1879Apr.
4,1879J u n e 14.1879.
2,1879.
Oct.
12, 1879.
Dec.
21.1880.
Peb.
A p r . 23,18^0.
J u n e 11,-1880.
1, 1880.
Oct.
31,1880.
Dec.
M a r . 11.1881.
6,1881.
May
J u n e 30,1881.
1,1881.
Oct.
31,1881.
Dec.
M a r . 11,1882M a y 19,1882July
1,1882.
3.1882.
Oct.
T>ic. 30,1882.
M a r . 13, 18-3.
May
1,1883
J u n e 22,1883.
2,
1883.
Oct.
, Pe<5. 31,1883Mar.
7,1884
A p r . 34,1884.
J u n e 20,1884.
S e p t . 30,1884-
JJ. S.
IClearing-housej
gold cercertifieates.
tificates.
$1, 063,210 55 $13, 522,
1, 376,170 50 ' 18,325,
1,167, 820 09 23,518,
1, 530,282 10 23, 454.
1, 842, 525 00
13, 671,
13,114,
1, 291,780 56
1, 443, 215 42 14, 410,
1, 084,555 54 10, 622.
930, 105 l 6
5, 753,
1, 023,015 86 12, 642
753, 904 90
4, 201,
869, 436 72 12, 532,
19, 086,
3, 261,131 36
832, 313 70 15, 18:?,
1, 214, 522 92 16, 872,
1,120. 814 34 13,446,
1,434, 701 83 21:, 602,
1, 669,284 94 36, 629,
1, 930, 725 59
13, 889,
1, 423, 258 17
10, 324,
1, 538,480 47 11,409.
1, 955,746 20 19, 119,
2,428, 797 44 35. 003,
2. 688, 092 06 25, 397.
1, 905,705 22
11, 9.54,
1, 779,792 43
11,514,
12, 277,
4, 009,299 01
12, 739,
.5,421, 552 49
5,312. 966 90 12, 220,
6, 058,472 34 12, 291,
12,130.
7, 218, 967 69
20, 096, 249 64
8, 366,
12, 2.52, .541 44
7, 464,
12,595, 720 49
6, 914,
16, 682, 226 40
7,810.
16,104, '855 28
7, 489,
6, 709,
19, 773, 859 01
4, 825,
15, 924, 683 90
4, 625,
26. 242, 108 60
790
87
4, 513,
20, 822,
4, 486,
15,317, 168 04
630
49
4,037,
16,3.52,
4, 075,
17,093, 447 39
956
93
4,1)34,
15, .541,
4, 00.5,
14,278, 290 77
783
74
3,
908,
14,391,
10,811, 726 69
17, 720,
10, 060. 551 U5
10, 813,
16, 094,
9, 891,636 15
8,219, 744 22
26, 477,
9, 388,073 82
20, 541,
10, 79.{,481 17
20,525,
12, 948, 092 34
21, 582,
,8, 929.0t)4 27
20, 093,
7, 446, 696 82
20, 397,
7,296, 178 39
40, 765,
$21, 569, 000
35. 855,000
25, 458; 000
33, 337,,000
36,189, 000
28, 246, 000
30, 809,000
34,176, 000
41,858. 000
31,721, 000
33, 852, 000
29, 907, 000
31, 783, 000
32, 854, 000
26, 224, 000
22, 020, 000
21. 818, 000
21, 334, 000
22, 139.000
20, 345. 000
21. 693,000
25,912, 000
20. 527, 000
15, 690, 000
15.052, 000
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
00
oa
00
00
00
00
00
00
00
00
Total.
;$14, 585, 810 55
19,701, 930 50
24, 6K6,460 09
24, 984. 942 10
15, 514, 185 00
14, 406,266 56
15, 854, 155 42
11, 706,715 .54
6, 683.325 76
13,665, 195 86
4, '955, 624 90
13.402. 246 72
22, 348,051 36
16,016, 073 70
18.087, 302 92
14,576, 574 34
23. 037. 601 83
35, 298. 944 94
15, 829.905 59
11, 747, 578 17
12, 948,406 47
21, 074. 826 20
37, 432, 017 44
28, 085, 732 06
13, 860, 205 22
13,294. 602 43
16, 286, 479 01
18,161. 092 49
17, ,533, 906 90
18, 349, 742 34
19; 349, 867 69
50, 031, 389 64
r 55, .572, 191 44
: 44,967,970 49
! 57,829,426 40
I 59, 78:',555 38
i 54,729, 759 01
i 51,558, 983 90
; 65,044,008 60
i 67, 194,190 87
•' 51,524, 768 04
54,242, 230 49
51,07<i, 247 39
•' 51,3.59, 256 93
51,137, 390 77,
r 44, 523, 883 74
: 50,551,8?6 69
: 42,691,871 05
: 47,319,846 1 5
156,836, 504 22
; 50,274, 173 82
1 53,011, 751 17
' 60,442,152 34
I 49.549, 444 27
; 43,534,286 82
63,113, 318 39
Held by
other natibnal
banks.
Aggregate.
$5, 282, 658 90 |19, 868, 469
7, 205, 107 08 26, 907, 037
8, 679,403 49 33, 365, 863
7, 585,027 16 32, 569, 969
6, 8 J 2,022 27 22, 326, 207
6, 834,678 67 21, 240, 945
6, 582,605 62 22, 436, 761
4, 960, 390 63
16, 667,106
3, 937, 035 88 10,620,361
5, 294, 386 44 18, 959, 582
3, 094, 704 83
8, 050, 329
3, 668, 659 18
17,070,905
6, 729,294. 49 29,077,345
5, 698, 520 66' 21, 714, 594
7,131. 167 00 25, 218, 469
6, 785,079 69 21, 361, 654
9, 962,046 06 3*2, 999, 647
14; 410, 322 61 40, 709, 267
11, 240, 132 19 27, 070, 037
9, 588,417 89 21, 335, 996
9, 710,413 84 22, 658, 820
11, 832, 924 50 32, 907, 750
17,290, 040 58 54, 722, 058
17, 938, 024 00 46, 023, 756
15, 391,264 55 29,251,469
17, 394, 004 16 30, 688, t}OQ
18, 068, 771 35 34, 352,250
23, 338, 664 83 41, 499, 757
23, 614, 656 51 41,148, 563
23, 983,545 10 42, 333, 287
22, 823,873 54 42. 173. 731
28, 981, 651 95 79,013,041
33, 869,860 31 89,442, 051
41,46i; 761 72 86, 429, 732
41,677, 078 86 99, 506, .505
49 562, 954 11 109, 346, 509
52, 443, 141 91 107,172, 900
53, 597, 211 36 10.5,156, 195
57, 584. 553 48 122, 628, 562
61,444. 736 63 128,638,927:
62, 809, 968 08 114, 334, 736
59, 438, 409 11 113, 680, 639
58, 907, 863 65 109,984,111
61, 056, 549 80 112,415,806
60,556, 871 77 i l l i ; 694; 262^
58, 333, 894 53 ,102, 857, 778
55, 875, 332 71 1106,427,1.59
55, 270, 495 29 ! 97,962,366..
56.287, 420 17 1103,607,266
58, 517, 890 40 115,354,394:
57, 543, 809 71 107,817,983
61, 274, 406 87 114,276,158
62, 637, 974 99 123, 080.127
65, 195,262 82 114,744,707
66,127, 395 29 109, 661, 682
65,496, 156 34 128, 609,474
ber 3,* 1882, it was $8,273,815, including $1,807,600 of silvier certificates ^
on October 2, 1883, it was $10,247,926, ineiudiug $2,653,030 of silver
certificates ; and on September 30, 1884, i t was $11,424,067, including
$3,331,510 of silver certificates.
143
COMPTROLLEE OF THE CUKRENCY.
The latest official reports of the State banks in ISTew England, ISTew
York, Pennsylvania, Marylaud, Georgia, Ti-xas, Ohio, Indiana, Michigan, Wisconsin, Missouri, and the Territory of Montana show that these
banks held specie ainounting to $14,834,133, of which the banks in ISTew
York City held $ 10,506,059.
The official returns from the State bauks of Galifornia do not give
separately the amount of coin held by tliem, but it is estimated that
the total cash reported, amonnting to $10,542,432, consisted almost entirely of coin. The amount of coin held by State bauks iu the States
before mentioned, including Oalifornia, was, therefore, $25,370,565.
The Director of the Mint, in his report for 1882, estimated the amount
of coin in the country on June 30, 1882, at $700,455,545, of which
$500,862,185 was gokrand $199,573,360 was silver.
His estimate for the fiscal year ending June 30, 1884, is as follows;
Gold.
U n i t e d s t a t e s coin.
C i r c u l a t i o n J u l y 1, 1883 .
Yeai's coinage..,
i
$537, 254, 794
27, 932, 824
Totals.
565,187, 618
Less net exports
D e p o s i t s for r e c o i n a g e
I J s e d in t h e a r t s
,
T r a d e d o l l a r s w i t h d r a w n from c i r c u l a t i o i i .
8,417, 059
263,117
4, 875, 000
T o t a l loss
C i r c u l a t i o n J u l y l , 1884 . .
K:et g a i n d u r i n g t h e y e a r .
13. 555,176
551,632,442
14, 377, 648
Silver.
Totals.
$228, 216,199 $765, 470, 993
28, 773, 388
56, 706, 212
256. 989, 587
822,177, 205
4,199
152, 031
216, 000
6, 000, 000
8, 421, 258
415,148
5, 091, 000
6, 000, 000
6, 372, 230
250, 617, 3.57
22, 401,158
19. 927, 406
802, 249. 799
36, 778, 806
From July 1, 1884, to October 1,1884, there has beeu added to the coin
$5,955,999 of gold and $6,582,350 of silver, making the stock of coin in
the country at the latter date $814,788,148, of which $557,588,441 was
gold aud $257,199,707 was silver.
The amount of bullion in the mint and in the New York assay office on
October 1,1884, is stated to have been $52,950,000 of gold and $4,935,000
ofsilver, making iu all $57,885,000, which, added to the amount of coin
stated above, gives $872,673,148, of which amount $610,538,441 was
gold and $262,134,707 was silver.
The following table shows the amount of gold and silver, includiug
the amount held to protect gold and silver certificates, and the percentage of each, in the Treasury of the United States, ou Septeinber 30 of
each year irom 1876 to 1884, and ou ISTovember 1, 1884:
;
Silver.
P e r c e n t of—
G-old coin
a n d bullion.
Period.
Standard,
dollars.
S e n t 30 1876..
S e p t . 30,1877..
Sei'»t..30,l><78..
Sept.30.1879..
S e p t . 30,1880..
Sept. 30.1881..
S e p t . 30.1882..
S e p t . 3 0 , 1883..
Sept.30,18.-4..
NoNT. 1, 1884
$i2,'i55,"205'
31,806.774
47, 784. 744
66, 092, 607
92 228, 649
114,-587,372
142, 058, 787
142, 9J6, 725
O t h e r coin
and bullion.
$6, 029,
7, 425,
15, 777,
21,173,
30. 878,
28, 945,
30, 769.
31. 858.
34, 408,
3;j, 993,
367
454
937
023
286
297
7(15
072
566
254
T o t a l coin,
and bullion.
T o t a l silver.
$6, 029, 367
7. 425 454
27, 933,142
52. 979, 797
78, 663, 030
96,037,964
122, 998. 354
146, 445. 444
176, 467, 353
176, 919, 979
Silver.
$5.5, 423, 059
107, 039. 529.
136, 036, 302
169, 827. 571
135,641,450
174,361,343
152,739,106
206,130,543
217, 904, 043
222, 536,360
$61, 452, 426
114,464.983
163, 969, 444.
222, 807, 368
214, 304, 480
269, 399, 307
275, 7:^7, 460
352. 575, 987
394. 371, 396
399, 456, 339
9.8
6.5
17.0
23.8
36.7
35.3
44.6
41.5
44.7
44.3
Gold.
90.2
93.5
83. 0
76.2
63.3
64.7.
55.4
58.5
55.3
55.7
144
R E P O R T ON T H E
FINANCES.
The bullion in the Bank of England for each year from 1870 to 1884
is shown in the following table, the pound sterling being estimated at
five dollars:
1870.
1871..
487'2............
187:3
1874....'
1875
1876
.1877
1103.900,000
117,950,000
112,900,000
. . . . . " . . ll:-{,500,000
111,450,000
119,600,000
143,500,000
126, 850, 000
1878
1879* . . :
18801
18«lt
1^821
18831
18841 ---
:..
- - - . . . - ' 1119,200,00§
150;942,98(^
-.-- 141,637,00§:...*^ 115,221,87©
. . . ' . . . : : . - . . . . : 108,689,912
-......, 121,779,545
•• 99,161, 045
Below is a similar table, giving the amount of gold and silver, and
the percentage of each, in the Bank of France, on December 31 of eac^
year § from 1870 to 1882, oil November 1,1883, and on October 30,1884,
five francs being estimated at one dollar:
P e r c e n t , of—
Tears.
S i l v e r coin
a n d bullion.
Gold coin
arid b u l l i o n .
Total.
Silver.
D e c e n i b e r 31,1870.
D e c e m b e r 31,1871.
• D e c e m b e r 31,1872.
D e c e m b e r 31,1873.
D e c e m b e r 31,1874.
D e c e m b e r 31,1875.
D e c e m b e r 31„1876.
D e c e m b e r 31,1877.
D e c e m b e r 31,1878.
D e c e m b e r 31,1879.
D e c e m b e r 31,1880.
D e c e m b e r 31,1881D e c e m b e r 31,1882.
, N o v e m b e r 1,1883.
O c t o b e r 30,1884...
$13, 700, 000
16, 240', 000
26,520,000
31, 260, 000
62, 640, 000
101, 000, 000
, 127, 720, OQO
173, 080, 000
211, 620, 000
245; 520, OUO
244, 360, 000
231,180, 000
216, 553, 000
203, 085, 000
205, 837, 862
$99,440, 000
$85,740,000
110, 680, 000 126,920,000
131, 740, 000 158, 260, 000,
122, 260, 000 153, .520,000
204, 220, 000 266, 860, 000
234, 8()0, 000 335, 860, 000
306, 080, 000 433, 800, 000
235, 420, 000 :408, 500, 000
196, 720, 000 408, 340, 000
148, 320, 000 393, 840, 000
110, 480, OCO 354, 840, 000
360, 340, 000
129, 160,000
190, 981, 300 407, 594, 000
192, 112, uOO 395, 597, 000
416, 765, 774
210,927,912
13.8
12.8
16. 8
20.4
23. 5
30.1
29.4
42.4
51.8
62.3
68.9
64.2
53.1
.51..3
49.4
Gold
86.2
'87.2
83.2
79. S
76.5
69. 9
70.6
57.6
48.2
37. .7
31.1
35. S
46. B
48.7
50.«
AMOUNT OF INTEREST-BEAEING FUNDED DEBT IN THE ITNITED STATES*
^
'
AND THE AMOUNT HELD BY NATIONAL B A N K S :
The. public debt reached its maximum on August 31, 1865, at whicli
time it amounted td $2,845,907,626. More than 1,275 millions of this
debt were in temporary pbligations of the Government, of which 830
milliohs bore interest at 7.30 per cent, per annum. The average rate of
interest on 1,725 millions of the debt at that date was 6.62 per cent.
This large amount of temporary obligations was funded within the three
years which followed the close of the war, chiefiy into 6 percent, bonds.
The 6 per cent, bonds were gradually reduced during the year 186§
and the!seven years following by payment and refunding into 5 per
cents. The 6 per eents, together with the 5 percents, were subsequently
rapidly replaced by 4J and 4 per cent, bonds, which were authorized to
be issued by the act of July 14,1870. In the year 1881 all of the un* London Econoinist, November 8, 1879.
t London Bankers' Magaizine, October, 1880,1881, and 1882.
4 London Economist, November 1, 18d4.
j
§ The Bulletin de Statistique, as quoted in the Bankers' Magazine, New York,, vol.
xiii, page 740 ; except t h e itenis for l879-'80 and '81, which were obtained from the
London Bankers'. Magazine for August, 1880, page 661,y September, 1881, page 71§,
and September, 1882, page 739, and the-three last items from L']£conomiste Fran^ais^
November 3, 1883, and Noyember 11, 1884.
^
.
;
145
COMPTROLLER OF THE CURRENCY.
redeemed 5 and Oper cent, bonds, amounting to $579,560,050, were continued payable at the pleasure of the Government, with interest at 3J
per cent., by agreement with the holders. The act of July 12, 1882, authorized the refunding of the three and one-halfs into three per cents,
arid since its passage all of these bonds have been converted into three
per cents. The Secretary, during the year ending ISTovember 1, called
for payment nearly $111,338,500 of the threes.
The report for 1879 and subsequent reports contain tables exhibiting
the classification of the unmatured interest-bearing bonded debt of the
Uiiited States, and of the bonds held by the national banks for a series
of years.
These tables are again presented, and exhibit the amount of the outstanding bonds of the Government and the amount held by the banks on
July 1 of each year and November 1 of the present year.
The following table exhibits the classification of the unmatured
interest-bearing bonded debt of the United States at the dates nained :
Date.
Aug.
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
July
31,1865 .
1,1866 .
1,1867.
1.1868 .
1.1869 .
1.1870 .
1.1871 .
1.1872 .
1.1873 .
1.1874 .
1.1875 .
1.1876 .
1.1877 .
1.1878 .
1.1879 .
.1,1880 .
1,1881 .
July
1,1882 .
July
1,1883.
July 1,1884 .
Novl 1,1884 .
Six p e r c e n t ,
bonds.
E i v e p e r cent, T o u r a n d a h a l..f F o u r p e r c e n t ,
bonds.
bonds.
p e r cent, b o n d s ,
$908, 518, 091 $199,-792,100
198, 528, 435
1, 008, 388, 469
198, 533, 435
1,421,110,719
221, 588, 400
1, 841, 521, 800
221, 589, 300
1, 886, 341, 300
221, 589, 300
1, 764, 932, 300
274, 236, 450
1, 613, 897, 300
414, 567, 300
1, 374, 883, 800
414, 567, 300
1, 281, 238, 650
510, 628, 050
1, 213, 624, 700
607,132, 750
1,100, 865, 550
711, 685, 800
984, 999, 650
703, 266, 650
854, 621, 850
703, 266, 650
738, 619, 000
646, 905, 500
310. 932, 500
484, 864, 900
235, 780. 400
439, 841, 350
196, 378, 600
( Continued at Continuedat
3^ p e r c e n t .
< 3^ p e r c e n t .
401, 593, 900
(
58, 957,150
32, 082, 600
3 per cents.
304, 204, 350
224, 612.150
194,190, 500
Total.
850, 000
878,110
347, 800
347, 800
$1,108, 310,191
1, 206, 916,904
1, 619, 644,154
2, 063, 110, 200
2,107, 930, 600
I, 986, 521,600
1, 888, 133, 750
1, 780, 451,100
1, 695, 805, 950
1, 724, 252, 750
1, 707, 998, 300
1, 696, 685, 450
1, 696, 888, 500
1, 780, 735, 650
1, 887, 716,110
1, 709, 993,100
1, 625, 567, 750
250, 000, 000
739, 349, 350
1, 449, 810, 400
250, 000, 000
737, 942, 200
1, 324, 229,150
250, 000, 000
250, 000, 000
737, 661, 700
737, 691, 550
1, 212, 273, 850
1,181, 882, 050
t l 4 0 , 000, 000
240, 000, 000
250,000,000
250, 000, 000
250, 000, 000
$98,
679,
739,
739,
T l i e N a v y p e n s i o n fund, a m o u n t i n g t o $14,000,000 i n 3 p e r c e n t s , t h e i n t e r e s t u p o n w h i c h is a p p l i e d
t o t h e p a y r a e n t of n a v a l p e n s i o n s e x c l u s i v e l y , a n d $264,800 of r e f u n d i n g c e r t i f i c a t e s , a r e n o t i n c l u d e d
in t h e table.
The operations of the Treasury Department for a series of years have
largely reduced the amount of interest receivable by the national bauks
on the bonds held by them.
Seventeen years ago the banks had on deposit as security for circulation 327 millions in United States bonds, of which amount 241 millions
bore interest at 6 per cent., and 86 millions at 5 per cent., aud on July
1,1882, they held 227 millious of 3^ per cent, bonds. These bonds have
now entirely disappeared from the listof securities held by the national
bauks. The average rate of interest now paid by the United States on
the bonds deposited as security for circulatiug notes is about 3.6 per
cent, upon their par value.
The banks now hold 49 millions of four and one-halfs, 116 millious
of fours, and 155 millions of three per cents, which have been refunded
from three and one half per cents. This will be seen from the followiug
table, which, exhibits the amount and classes of United States bonds
5022 F
10
146
R E P O R T ON T H E
FINANCES.
owned by the banks, including those pledged as security for circulation
and for public deposits, on the 1st day of July in each year since 1865,
arid upon November 1 of the present year:
U n i t e d S t a t e s b o n d s h e l d a s s e c u r i t y for c i r c u l a t i o n .
Date.
6 p e r cent,
bonds.
J u l y 1,1865.....
J u l y 1,1866.....
J u l y 1,1867
J u l y 1,1868.....
J u l y 1,1869
J u l y 1,1870.....
July 1,1871.....
J u l y 1,1872
J u l y 1,1873.....
J u l y 1,1874
J u l y 1,1875
J u l y 1,1876.....
J u l y 1,1877
J u l y 1,1878-....
J u l y 1,1879.....
J u l y l , ,1880.....
J u l y 1,1881.....
J u l y 1,1883
Total.
Grand
: total.
$235, 959,100 $155, 785, 750 $391, 744, 850
$65, 576, 600
327,310,350 121,152, 950 448, 463, 300
86,. 226, 850
340, 607, 500 84, 002, 650 424,610,150
89,177,100
341, 495, 900 80,922,500 422, 418,400'
90, 768, 950
342, 851, 600 55,102, 000 397, 953, 600
87, 661, 250
342,278,550 43, 980, 600 386,259,150
94, 923, 200
359, 885, 550 39, 450, 800 399, 336, 350
139, 387, 800
380,440, 700 31, 868, 200 412, 308,,900
207,189, 250
390, 410, 550 2'5, 724, 400 416,134,-^150
229, 487, 050
391,171,200 25, 347,100 416, 518, 300
236, 800, 500
376, 314, 500 26, 900, 200 403,214,700
239, 359, 400
341, 394, 750 45,170,300 386, 565, 050
232, 081, 300
388, 713, 600 47,315,050 386, 028, 650
206, 651, 050 $44, 372, 250
'199,514,550 48,448, 650 $19,162, 000 349, 546,400 68, 850, 900 418, 397, 300
144, 616, 300 35,056,550 118,538,950 354,254,600 76,603, 520 430, 858,120
139, 758, 650 37, 760, 950 126, 076, 300 361, 652, 050 42, 831, 300 404,483, 350
172, 348, 350 32, 600, 500 93, 637, 700 360,488, 400 63, 849, 950 424, 338, 350
Continued
a t 3^ p e r
cent. :
202,487,650 32, 752, 650 97, 429, 800 357, 812, 700 43,122,550 400, 935, 250
7, 402, 800
385,^700 5 3 p e r c e n t s . y39,408,500 104, 954, 650 353, 029, 500 34, 094,150 387,123, 650
200, 877, 850
172,412, 550 46, 546,400 111, 690, 900 330, 649, 850 31,203,000 361,852,850
155, 604, 400 49, 537,450 116, 705, 450 , 321, 847, 300 30,419,600 352,266,900
$170, 382, 500
241, 083, 500
251, 430, 400
250, 726, 950
255,190, 350
247, 355, 350
220, 497, 750
173, 251,450
160, 923, 500
154, 370, 700
136, 955, 100
109, 313, 450
87, 690, 300
82,421, 200
56,042,800
58, 056,150
61, 901, 800
Continued
a t 3^ p e r
cent.:
J u l y 1 , 1 8 8 2 : . . . . 25,142,600
J u l y 1,1884.....
ilSrov. 1 1884
5 p e r c e n t , 4^ p e r c e n t , 4 p e r c e n t
bonds.
bonds.
bonds.
United
States
bonds held
for o t h e r
purposes
at nearest
date.
•
The banks also held $3,469,000 of Pacific Eailway six per cents. They
also had $9,586,200 of three per cents, which were called and matured
on and prior to Ko vember 1.
Aboiit one-half of the bonds now held by the national banks are three
per cents.
If the public debt continues to be paid as rapidly as it has been during the past year, all of these bonds will probably be called within the
next two years. Those of the lower numbers, which it is safe to estiihate w i l l b e among the last called, cannot be purchased for a premium of much less than 2 per cent., and at that price there will be very
little, if any, profit on circulation based on this class of bonds if they
are redeemed within the next two years.
The profits on circulation, based on other bonds held by iiational
banks, are merely nominal, after paying tbe annual tax of 1 per cent, on
circulation.
SECURITY FOR C I R C U L A T I N a NOTES.
During previous years there have been many changes in the classes
of United States bonds held by the national banks as security for their
circulation, owing to the payment or refunding or extension of the
difierent issues of 5 and 6 per cent, bonds, bearing interest a t 4 J , 4, 3J,
and 3 per cent.
^
The amount of United States bonds held by^the Treasurer as security
147
COMPTROLLER OF THE CURRENCY.
for the circulating notes of the national banks on^ the 1st day of November, 1884, is exhibited in the following table:
Class of b o n d s .
F u n d e d loan of
F u n d e d loan of
F u n d e d l o a n of
Pacific R a i l w a y
1891
1907
J u l y 12, 1882
bonds
A u t h o r i z i n g act.
R a t e of
interest.
J u l y 14, 1870, a n d J a n u a r y 20, 1871 . .
do
do
J u l y 12, 1882
J u l y 1, 1862, a n d J u l y 2, 1864
P e r cent.
4|
4
3
6
Total
Amount.
$49,
116,
155,
3,
537, 450
705, 450
604,400
469, 000
325,316,300
During the year 1871, and previous thereto, a large portion of the
bonds bore interest at the rate of 6 per cent., and until the year 1877
all of the bonds bore iuterest at either 5 or 6 per cent.
The 5 and 6per cent, bonds in the year 1881 entirely disappeared from
the list of these securities, witli the exception of 3J millions of Pacific
sixes, and at the present time more than 47.8 per cent, of the amount
pledged for circulation consists of bonds bearing interest at 3 per cent,
only, and the remainder, with the exception of $3,469,000 of Pacifies,
bear interest at the rate of 4 and 4^ per cent.
AMOUNT OF UNITED STATES BONDS HELD BY THE NATIONAL BANKS
AND BY BANKS ORGANIZED UNDER STATE LAWS.
Through the courtesy of State officers the Comptroller has obtaiued
official reports made to them under State laws by State banks in twentytwo States, by^trust companies in five States, and by savings banks
in fourteen'States, at difi'erent dates during the years 1883 and 1884, and
from these returns the following table has been compiled :
Held by 817 State banks in twenty-two States
Held by 35 trust companies in five States
Held by 636 saviugs banks in fourteen States
$2,337, 705
23,371,084
196,226,202
,.
•.
Total
221,934,991
The interest-bearing funded debt of the United States was, ou November 1, 1884, $1,206,475,600. The total amount of bonds held by the
national ($342,156,300) and State and saviugs banks and trust comxianies ($221,934,991) is nearly one half of the interest-bearing debt. ,
The amount of (Jnited States bonds held by State banks is given by
g-eographical divisions for the years 18'81, 1882,1883, and 1884, asfollows : ,
G-eograpliical divisions.
Eastern States
Middle States.
..
Southern States
W e s t e r n States
Pacific S t a t e s
.
Total
1881.
1882.
1883.
1884.
.$40, 468, 340
176, 373, 889
1,073,460
5, 735, 518
14,874,332
$42, 667, 248
197,135, 239
268, 350
3, 369, 414
20,020,175
$37. 399, 819
182, 847, 588
646, 500
3,105, 024
17, 743, 978
$30, 806, 938
188, 640, 523
96, 750
2, 390, 780
238, 525, 539
263. 460, 426
241, 742, 909
221, 934, 991
(*)
* The United States bonds held in the Pacific States are not included in the above table, as the re
turns for 1884 did not separate United States bonds from other bonds held. I t is estimated that the
aggregate amount held is $18,000,000, the estimate being based upou the proportion of United Statesbonds to the total amonnt of bonds held in these States in 1883.
148
REPORT ON T H E
FINANCES.
In previous reports the Oomptroller has given the amount of United
States bonds held by banks organized under State laws, and by private
bankers, as returned to the Oommissioner of Internal Kevenue for purposes of taxation. The tax on deposits and capital having been repealed,
no further returns of this kind will be available. The last returns
to the Oommissioner was for the six months ending November 30, 1882,
aud from these returns the following table has been compiled for the
purpose of comparison with previous tables presented since the year
a880:
A m o u n t i n v e s t e d in U n i t e d S t a t e s b o n d s .
G e o g r a p h i c a l divisions.
By State banks,
private bankers, a n d t r u s t
companies.
M a y 31, 1880:
.
.
ISTew E n o^land S t a t e s .
.
Middle States
^
Southern States
W^estern S t a t e s
Pacific S t a t e s a n d T e r r i t o r i e s
$3, 737,
^ 0 , 564,
2, 541,
8,137,
3, 883,
United States
M a y 31, 1881:
ifew England States
Middle States
Southern States
.
. .
Western States
.
Pacific S t a t e s a n d T e r r i t o r i e s
United States
....
i
M a v 31, 1882:
N e w England States
Middle States
Southern States
Western States
Pacific S t a t e s a n d T e r r i t o r i e s
United States
1
N o v e m b e r 30, 1882:
New England States
Middle States
S o u t h e r n S t a t e s '.
Western States
..
..
Pacific S t a t e s a n d T e r r i t o r i e s
United States
. . . .
....
By savings
* banks.
Total.
093
834
991
554
816
$37, 693, 200
146, 301,155
1,000
2, 474, 557
2, 717, 904
$41, 430, 293
166, 865, 989
2 542 991
10i612,lll
6, 601, 720
38, 865, 288
189,187.816
228 053 104
2, 985, 496
21, 908, 703
1, 707, 702
6, 734, 948
4,984,313
36, 640, 795
168, 617, 049
21. 689
2, 689, 447
6,911,198
39 626 291
190, 525, 752
1, 729, 391
9, 424, 395
11, 895, 511
38, 321,162
214, 880,178
253, 201, 340
2, 644, 895
20, 576, 823
1, 862, 946
7, 099, 874
5, 897, 637
37, 046, 625
189, 775, 842
2, 354, 710
12, 851, 605
39 691 520
210, 352, 665
1, 862, 946
9,454, 584
18, 749, 242
38, 082,175
242, 028, 782
280,110, 957
2, 501, 497
19, 735, 340
1,147, 881
6, 528, 666
5, 781, 749
34, 274,199
179,131,959
2,143,118.
14, 380, 007
36, 775, 696
198, 867, 299
1 147 881
8, 671, 784
20,161, 756
35, 695,133
229, 929, 283
265, 624, 416
^ T h e data which have heretofore been obtained from the Oommissioner
of Internal Eevenue included' the returns from private bankers, and
were, therefore, more complete than those obtained from the reports of
State officers, but the amounts held by State and savings banks have
not greatly differed.
THE FINANCIAL CRISIS OF MAY.
Owing to the large number of metcaiitile failures which had occurred
during 1883, considerable financial uneasiness was felt at the beginniug
of 1884, and the year opened inauspiciousljs by the appointment on
January 1 of a receiver for the iTew York and 'New England Railroad.
Following closely upon this failure were the troubles of the Oregon and
Transcontinental Oompany, and the appointment on January 12 of a
receiver for the Forth River Oonstruction Oompany. The months of
COMPTROLLER OF THE CURRENCY.
149
(
February, March, and April were characterized by many commercial
failures, rumors affecting the credit of various corporations, aud a still
further depreciation in price of stocks and bonds, and in fact of all
products and commodities.
This feeling of uneasiness and of uncertainty as to values culminated
oh May 6 with the failure of the Mariue Iiational Bank of New York
whose presideut was a member of the firm of Grant & Ward. The
fajilure of this firm immediately followed, and owing to the prominence
of some of its members and its large liabilities, exceeding $17,000,000,
its failure caused great excitement, that had not subsided when on May
13 the president of the Second National Bank of Kew York wa,s discovered
to be a defaulter to the extent of $3,185,000. Although this defalcation
was immediately made good by the directors of the bank and did not
result in its suspension or failure, such a shock was given to credit, aud
to the confidence of the public in all institutions and firms supposed to
have loaned money upon such railroad and other securities as had
greatly decreased in value or whose managers were supposed to be directly or indirectly interested in speculation in Wall street, was so
shaken, that there was great pressure to sell stocks and securities and
an active demand on the banks for deposits.
This condition of affairs culminated ou May 14 iu the suspension of
the Metropolitan National Bank, the failures of Donnell, Lawson &
Simpson, Hatch & Foote, and several other bankers and brokers.
These failures were followed on May 15 by that ofthe Newark Savings
Bank, and by the suspeusion of Fiske & Hatch and others. Failures
and suspensions continued through the months of May and Juue, including those ofthe Wall Street Bank, the Philadelphia aud Reading
Eiailroad, the West Shore Railroad, of 0. K. Garrison, M. Morgan's
Sous, and of other bankers and brokers,
'The suspension of the Metropolitan National Bank on May 14 caused
great excitement. All stocks and securities called upon the New York
Stock Exchange were greatly depreciated under the pressure to sell,
ahd it was practically impossible for the bauks to collect their call loaus,
as their borrowers could not obtain money by sale of their securities
except at ruinous rates; neither could they borrow elsewhere; a n d i t
was impracticable and impolitic to throw the mass of securities held as
collateral to the call loans of the associated banks upon the market.
If it had been done it is probable that a suspension of gold and currency payments by the banks throughout the country would have followed the general panic that would have ensued. In this emergency
the members o f t h e NewYork Olearing-House Association, realizing
that an immediate deinand for deposits would be made by their country
correspondents,called a meeting at the clearinghouse on the afternoon
of May 14, and the following plan for settling balances at the clearing
house was unanimously adopted: * * *
Besolved, That, in view of the present crisis, the banks in this association, forthe purpose of sustaining each other and the business community, resolve:
That a committee of tive be appoiuted by the chair, to receive from banks members
of the association bills receivable and other securities to be approved by said committee, who shall be authorized to issue thi.Tefor to such deposifciug banks certificates
of deposit bearinginterest at six percent. pe;r annum not iu excess of 75 per cent, of
the securities or bills receivable so deposited, except in case of United States bonds,
and said certificates shall he received in settiement of balances at the clearing house.
After consultation with the ofQcers and directors of the Metropolitan
National Bauk, a cpinmittee of examination was appointed to visit the
bank and to ascertain if some plan could not be arranged to permit it
,to open again for busiuess. The greater part of the securities of the
150
<. REiPORT ON THE FINANCES.
bank were found to be of such a character that loan certificates could
safely be issued uppn them, and in this way the Metropolitan National
was enabled to resume busiuess ou May 15 and settle its balances at the
clearing house. The prompt action of the members of the associated
banks aud the resuraption of the Metropolitan National Bank greatly
assisted in allaying excitement and staying the panic, and although confidence was not immediately restored, and although the banks in the
city of New York were largely drawn upou by their country correspondents reducing their reserve for a time below the 25 per cent, limit prescribed by law, and although on account of the great depreciation of
values and the stringency of the money market occasioned by the want
of confidence other failures of State bauks, private bankers, and mercantile firms occurred iu New York and throughout the country, there
was no suspension of gold and currencj^ payments at any point, and the
issue of loan certificates was confined to the banks of New York Oitj^,
which were soon enabled to collect their loans and make good their reserves.
The crisis of May, 1884, seems to have been even more unexpected to
the country than that of September, 1873. Although many conservative people had predicted that the large increase in railroad and other
securities, and the general inflation which had been going on for a number of years would bring financial troubles and disasters to the country,
it was nevertheless generally believed that the depreciatiou of values
and the liquidation which had already been going on for many monthSy
and the further facts that the country was doing business upon a gold
basis, that the prices of all commodities were already very low, that an
increased area of territory was under cultivation, and that the prospects
were excellent for good crops, together with the larger distribution of
wealth throughout the Union, would prevent a repetition of the panic
of 1873. This general belief was measurably correct, as the panic or
crisis was confined principally to New York Oity, although its effects
were more or less felt in all parts of the country, and the liquidation
resulting therefrom has not j e t been fully completed.
The most profound students of political economy have for many
years endeavored to explain the causes which have led to financial
troubles similar to those of 1857, 1873, aud 1884, and it is not to be expected that the Comptroller can obtain sufficient data to enter into a
complete and satisfactory explanation ofthe causes of the financial disturbances of the present year. The causes that lead to financial crises
in a country so rich in agriculture, of which the manufacturing and
mining interests are so varied and important, the imports and exports
so great, of so extensive an area of territory, and in which wealth is
becoming so equally distributed, and the population of which is increasing so rapidly, are difficult to explain, and the issue of currency
and creation of debt requires elaborate study to ascertain the reasons for
the rise and fall in valueof commodities and realty which cause a panic.
It is scarcely possible atthis time to explain why it should be necessaiy
for the country to go through the liquidation and financial trouble
which is now being experienced.
It is apparent, however, that a repetition of some of the same circumstances which brought about the monetary crisis of 1873 has been largely
influential in causing the present crisis. Property of all kinds had
been capitalized, as it is called ; bonds and stocks had been issued for
the purpose of building railroads, carrying on manufacturing and other
business; municipal and other bonds had been issued for public improvements. These bonds aud stocks were put upon the market, and
COMPTROLLER OF THE CURRENCY.
151
commercial credit was extended until a point was reached where capitalists of this and other countries questioned the intrinsic value of these
securities and the earning power of the property on which they wjere
based, and also doubted the solvency of many firms in commercial business. This lack of confidence induced them to decline to make farther
advances or investments. A decrease iu the earnings of railroads,
manufacturing, and other enterprises followed, and the entire business
of the countiy has consequently beeu restricted and deadened.
t h e r e is little doubt that one of the causes which led to the local (iisturbances among the banks, national and State, aud private bankeri of
the city of New York, was their intimate relation in many instances to
the New York Stock Exchange, and the fact that a large portion of Ithe
loans made by the bauks and bankers of New York were based upon
the security of stocks and bonds, often speculative in their character,
'which are dealt in and regularly called at the Stock Board.
I t is no doubt correct in principle to advance money in aid of enterprises
which are legitimate in their aims, and from which reasonable returns may be expected, and in order that the general business and commerce or the carrying trade of the country may be benefited. Due
care should, however, be taken that loans so made should not exceed
the amount which it would be safe to advance upon the intrinsic value
of the property rispresented by the securities, and not upon a fictitious
or unreal valuation. Lines should be closely drawn between legitimate
business and speculation. The principles which underlie judicious and
sound banking are the growth of au experience of many years. Banks
not only loan their own capital but that of their depositors aud creditors, and are therefore, to a certain extent, trustees, and should not eneourage speculation or lend money for the furtherance of doubtful enterprises, even though the profits ipromise to be exorbitant. The proper
relation of the New York Stock Exchange to the business of the IJnited
States is yet to be determined. The value of an exchange for the convenient sale aud handling of stocks and securities is unquestioned; but
when the members of this exchange, who have, associated themselves
together for the purpose of furthering the business aud commerce of
the country, use the machinery of this exchange to create speculative
values and to increase or decrease prices of stocks and bonds for purposes of speculation solely, or, more properly, to encourage a form of
gambling, it is a matter for serious consideration whether legislation'
by the State of New York or by the Congress of the United States should
not be had to regulate a business which appears at times to be carried
on to the great detriment of the true business interests of the country.
. Just what restrictions should be placed upon the business of the New
York Stock Exchange, or what legislation should be had, is difficult to
determine. Just how far the Federal or State law can interfere with the
business of private citizens is a delicate and difficult matter to settle.
In considering the financial troubles of May, 1884, in the city of New
York, the (Comptroller desires to call attention to the fact that while
many banks and private banking firms of excellent repute failed, but
one associajtion organized under the national-bank act failed, and but
one suspended.
,
^
The liabilities of State banks and private bankers failing during the
month of May iu the city of New York it is estimated exceeded in the
aggregate 32 million dollars, while the liabilities of the only national
bank in the same category was about 4J millions, no loss to the public
occurring through the national bank which suspended.
Upon learning of the defalcation at the Second National Bank on
May 14, and when it was apxiarent that a financial crisis was imminent
152
REPORT ON T H E
FINANCES.
in the city of New York,, the Oomptroller ordered expert and reliable
examiners to the assistance of the national-bank examiner stationed at
New York in order to protect the public. The examiners were instructed
to exercise the utmost caution and vigilance, and to visit any of the
national banks that appeared to be in trouble, or where violations of
law or irregularities were suspected. They were especially instructed to
report any criminal irregularities or violations of section 5209. Before
permitting the Second National Bank, whose presideut had misappropriated over 3 millions of its funds, to open for business, the defalcation
was made good under the supervision o f t h e examiner. The plan of
resumption for the Metropolitan National Bank, by obtaining loan certificates of the New York Olearing-House Association upon its securities, was also submitted b y t h e examiner in charge of the bank to the
Oomptroller, the examiuer remaining in charge until the plan was carried
into effect and the bank permitted to resume.
During tfie crisis in New York, bank examiners throughout the country
were directed to exercise the utmost vigilance in the districts to which
they were assigned, to visit any of the national banks which appeared
to be in trouble or which were suspected of irregularities. They were
further instructed to report promi^tl}^ by telegrapJIi any matters of importance which might occur in their respective districts.
The Oomptroller desires to call attention to the fact that onl}^ eleven
national banks failed in theUnited States during the year endiug November 1, 1884, although more than one hundred banks and bankers
other than national failed during the same periodo The records of this
office show that many ofthe transactions of the national banks which
failed, including the Marine and Metropolitan National Banks of New
York City, were looked upon with disfavor, and that these associations
as a rule had been frequently reprimanded for irregularities during the
past few years. None of the disclosures made by the examiner's reports, however, gave the Department an adequate idea ofthe dangerous
character of the business which was being carried on by the Marine National Bank of New York, andthis is not singular, as the directors of
the bank, as will hereafter be seen, were equally deceived in regard
to the situation.
Further information relating to this and other matters pertaining to
the banks that have failed during 1884 will be found under the head of
national bank failures in this report.
CLEARINa-HOUSE LOAN CERTIFICATES.
As has been stated, a meeting of the members of the New York
Olearing-House Association was held on May 14,1884, to consider what
measures could be adopted to protect the reserves of-the associated
banks and to prevent suspension of gold and currency payments in
New York.
Resolutions were there adopted, which are given elsewhere, authorizing the issuance by the loan com mittee of the Olearing-House Association of what were termed clearing-house loan certificates, of which the
following is a copy :
No.—.]
[$10,000.
Loan committee of the New York Clearing-Mouse Association.
New York, May 15, 1884.
This certifies t h a t the
National Bank has deposited with the committee^
securities in accordance with the proceedings of a meeting ofthe association held May
COMPTROLLER OF THE CURRENCY.
153
14, 1884, upon which this certificate is issued. This certificate will be received in
payment of balances at the clearing-house for the sum of ten thousand dollars from
any member of the Clearing-House Association. On the surrender of the certificate
by the depositing bank above named, the committee will indorse the amount as a
payment on the obligation of said bank, held by them, and surrender a proportionate
share of collateral securi ties held therefor.
} Committee,
These certificates were to be issued to banks who were members of
the association upon their securities or bills receivable, at the rate of
75 cents on the dollar. By the cooperation of all the members of the
Olearing-House Association, the certificates were accepted iu payment
of balances at the cleariug-house. Similar resolutions were adopted
and certificates issued during the panic of 1873, but this measure of
relief was not taken until after the panic had assumed such proportions
that their use and the consequent relief to the banks in settling their
balances at the clearing-house could not restore confidence. There is
little doubt but that the prompt action of the associated banks in May
l8t;St iu issuiug these loan certificates had a most excellent effect not ouly
in the city of New York but throughout the country. ^ The greatest
amount of these certificates outstanding on any one day was on May 24,
1884, when they amounted to $21,885,000. After that date they were
issued in limited amounts only, and on June 7 their further issue was
discontinued.
Of the eighty-two banks, members of the Olearing-House Association,
only twenty took out these certificates, and several of the banks so
taking tuem out, did so simply as a precautionary measure and did not
use them. The total amount issued was $24,915,000, and about $7,000,000
of these were issued to the Metropolitan National Bank. P n and after
June 10 balances at the clearing-house, were paid in lawful money.
The principal security on which these certificates were issued consisted
of mercantile paper.
On July 1 all of the loan certificates, with the exception of a portion
of those which had been issued b y t h e loan committee to the Metropolitan National Bank, had been returned to the committee and canceled and the securities taken up. This^bank had been compelled,
owing to its suspension and the lack of confidence which was caused
thereby, to liquidate almost its entire deposit account, having reduced
its deposits from $11,294,000, on May 15 to $1,338,000 on September
30. Owing to tbis enormous liquidation of deposits, the Metropolitan
National Bank was unable to collect its loans and realize upon its securities with sufficient promptness to cancel its loan certificates by July 1,
and as these certificates bear iuterest at six per cent, and are secured
by a deposit of ample collaterals, as heretofore stated, the associated
banks were willing to carry them as loans, and ou October 3,1884, were
still carrying $5,290,000 of the certificates issued to the Metropolitan
National Bank. Siuce that time this bank has gone into voluntary
liqiiidation, aud tbese certificates will be paid and canceled as rapidly
as the collection of the securities upon which they are based can be
made.
154
R E P O R T ON T H E
FINANCES.
The following table shows the aggregate issuance and cancellation oi
clearing-house certificates from day to day from May 15, 1884, to October 3, 1884:
Date.
Canceled.
Issued.
M a y 15
M a y 16
M a y 17
M a y 19
M a v 20
M a y 21
M a y 22
M a y 23
M a y 24
M a y 26
M a y 27
M a y 28
M a y 29
June 2
^June 3
June 4
June 5
June 6
J u n e 6 to J u l y 1
J u l y 1 to A u g u s t 1
A u g u s t 1 to September 1 .
S e p t e m b e r 1 to O c t o b e r 3 .
$3, 820, 000
6, 885, 000
6, 740, 000
1,190, 000
1, 950, 000
580, 000
1, 560, 000
140, 000
180,000
$200, 000
"soo," 666
160, 000
415,000
460, 000
450, 000
400, 000
1,100, 000
90, 000
1, 030, 000
120, 000
1, 050, 000
9, 070; 000
2, 850, 000
1, 220, 000
210, 000
640, 000
700,
335,
70,
40,
000
000
000
000
85, 000
Outstanding.
$3, 820, 000
10,705,000 ,
17, 445, 000
18, 435, 000
20, 385, 000
20,165, 000
21, 725, 000
21, 865, 000
21,885,000
21, 470, 000
21, 650, 000
21, 200, 000
21, 500, 000
20, 73.5, 000
20, 715, 000
19, 725, 000
19, 605, 000
18, 640, 000
9, 570, 000
6, 720, 000
5, 500, 000
5, 290, 000
24, 915, 000
As has been stated, loan certificates were issued during the panic of
1873. On September 20 of that year resolutions * were adopted for the
issuance of these certificates, as follows:
That in order to enable the banks of this association to afford such additional assistance to the business commnnity, and also for the purpose of facilitating the settlement of the exchanges between the banks, it is proposed :
'
'
T h a t any bank in the Clearing House Association may, at its option, deposit with
a committee of five persons, to be appointed for t h a t purpose, an amonnt of its bills
receivable and other securities, to be approT ed by said committee, who shall be
authorized to issne therefor to said depositing banks certificates of deposit, bearing
interest at seven per cent, per annum, io denominations of five and ten. thousand
dollars, to an amount not in excess of seventy-five per cent, of the securities or bills
receivable so deposited; except t h a t when the securities deposited shall consist
either of United States stocks or gold certificates, the certificates of deposit may be
issued npon the par value of such certificates.
These certificates may be used in settlement of balances at the clearing-house for a
period not to extend beyond thefirst of November proximo, and they shall be received by creditor banks during that period daily in the same proportion as they
bear to the aggregate amonnt of debtor balances paid to the clearing-house. The interest which may accrue upon these certificates shall, on the first of November next,
or sooner, should the certificates be all redeemed, be apportioned among the banks
which shall have held them during t h a t time.
The securities deposited with the committee above-named, shall be held by them as
a special deposit j^ledged for the rederaption ofthe certificates issued thereon.
• *
*
*
-Jf
*
*
*
The total amount of loan certificates issued under this resolution was
$26,565,000, and the following table sbows the issue and cancellation of
same:
Issued.
Canceled.
September 22 to 29,1873
October 1 to 29, 1873
Is^ovember 1 to 20, 1873
$22, 080, 000
3, 205, 000
1, 280, 000
"
$26, 565, 000
October 3 to 31 1873
November 3 to 29, 1873
December 1 to 31,1873
Jfl.Tiriarv 5 t n 14 1874
$5, 370, 000
8, 235, 000
12, 020, 000
Q40 000
26, 565, 000
* These resolutions were first'printed in the Comptroller's rei)ort^for the year 1873.
155
COMPTROLLER OF THE CURRENCY.
Upon comparison it will be seen that the issue of loan certificates*
during Septeinber, October, and November, 1873, exceeded the issue
of May and June 1884 by ouly $1,650,000.
NATIONAL-BANK
FAILURES.
Eleven banks have been placed in the hands of receivers during the
year ending November 1, 1884, viz :
apCapital. Receiver
pointed, j
Name of bank.
Tbe First National Baink of Leadville Colo
Tbe
The
The
The
First National IBank of Saint Albans Vt
First National Bank of Monmouth, III
Marine National Bank of New York N Y
Hot Springs National Bank of Hot Springs Ark
The
The
The
The
First National Bank of Livingston, Mont
First National Bank of Albion N. Y
First National Bank of Jamestown Dak
Logan National Bank of West Liberty, Ohio
.
-
.
....
$60, 000
100, 000
100, 000
75. 000
400; 000
50, 000
250, 000
50, 000
100, 000
50, 000
50, 000
Jan. 24,1884
Mar. 11,1884
Apr. 22,1884
Apr. 22,1884
May 13,1884
June 2,1884
July 23,1884
Au"-. 25,1884
Aug. 26,1884
Sept. 13,1884
Oct. 18,1884
One of these, the Oity Natioual Bank of Lawrenceburgh, Ind., had
previously been placed in voluntary liquidation by the vote^ of shareholders, owning two-thirds of its stock, but failed to pa^^ its depositors
on demand.
In the case of the following six banks a final dividend to depositors
has been paid during the year, and the affairs of all of tbem except those
of the National Bank of the State of Missouri, have been finally closed.
These bauks, with the total dividend paid by each to their creditors,
are as follows:
Name of bank.
The
The
The
The
The
The
First National Bank of Austin, Nev
:.
Atlantic National Bank of Now York, N . Y
Miners National Bank of Greorgetown, Col
National Bank of Fishkill, N. Y..
National Bank o£ the State of Missouri, SaintLouis, Mo
German Natioual Bank of Chicago, 111
Total divi- Proportion
dends on of interest
principal.
paid.
Per cent.
92.70
100.
76.50
100.
100.
100.
Per cent.
38.5
100.
42.3
Ih the case of the National Bank of the State of Missouri there still
remains a portion of the assets which can only be liquidated at the close
of protracted litigation. Whatever m a y b e realized from this source,
will eventually be distributed among the stockholders of that bank who
have paid au assessment upon their stock liabibty.
The aff'airs of a number of national banks in the hands of receivers
have been completely liquidated, with the exception of litigation pending in the courts, which may protract their final settlement for some
time, although in three cases, those of'the First National Bank of Allentown, Pa., the First National Bauk of Waynesburg, Pa., and the Oity
Natioual Bank of Ohicago, III., a speedy settlement is now expected.
*The Comptroller is indebted to Mr. W. A. Carap, manager, and Mr. F. D. Tappen,
chairman of the loan committee of the New York'clearing-house, for valuablejinformation reorardin«: the issue of loan certificates.
156
REPORT ON T H E
FINANCES.
The names of these banks, with the dividends already paid to the creditors, are as follows:
Per cent..
Venaugo Natioual Bauk of Frankliu, Pa
,
Scandinavian National Bank of Chicago, 111
'
New Orleans National Banking Association of New Orleans, La
First National Bank of Anderson, Ind
„
'
Charlottesville National Bank of Charlottesville, Va
Fourth National Bank ol Chicago, 111
City National Bank of Chicago, 111 ..
National Bank of the State of Missouri, Saint Louis, Mo
First National Bank of Georgetown, Colo
Third National Bank of Chicago, 111
Central National Bank of Chicago, 111
First National Bank of Allentown, Pa
„
First National Bank of Waynesburg, Pa
First National Bank of Dallas, Tex
People's National Bank of Helena, Mont
First National Bank of Bozeman, Mont
Germ an-American National Bank of Washingtou, D . C
Second National Bauk of Scranton, Pa
.First National Bank of Butler, Pa
First National Bank of Newark, N. J
First National Bank of Brattleboro', Vt
15
,50
60
25
62
50
77
*100
22|
*100 ~
60
^
85
40
37
40
"... 85
50
100
70
*100
^100
The following banks in the hands of receivers have paid dividends
during the past year, the total dividends up to Noveniber 1,1884, being
also given:
D i v i d e n d s T o t a l divi- Proportion
oaid d u r i n g d e n d s o n
of interthepast
est paid.^
principal.
jear.
Name of bauk.
) First National Bank of Nevada, Austhi, Nev
b Atlantic National Bank of New York, N. Y
3 Miners' National Bank of Georgetown, Colo
^National Bank of Fishkill, N. Y
3 National Bank of the State of Missouri, Saiut Louis, Mo . .
3 First National Bank of Allentown, Pa
3 German National Bank of Chicago, 111.,.
^.
3 Second National Bank of Scranton, Pa
'
3 Pacific National Bank of Boston, Mass
3 First National Bank of TJnion Mills, at Uhion City, P a : . . .
3 Vermont National Bank of Saint Albans, Vt
3 First National Bank of Leadville, Colo
e First National Bank of Monmouth, 111
3 Marine National Bank of New York, N. Y
e Hot Springs National Bank of Hot Springs, Ark
* Of linterest.
' F e r cent.
2.70
15.25
1L50
*38. 50
2.35
15
26.5
5
5
30
12. 50
20
70
25
30
P e r cent.
92.70
100
76.50
100 .
100
• 85
100
100
10
50
12.50
20
70 .
25
30
©
Per cent.
56""'
38.50
100
":
The failures of national banks during the year ending Novemberl,
1884, have been more numerous than for a numberof preceding years,
and this is not surprising considering the great depreciation in values
and the consequent general liquidation, which has resulted in failures
among traders and others having au aggregate indebtedness of about
$200,000,000, as nearly as can be estimated. These failures have entailed large losses upon the banks generally, and the natioual banks
mentioned, as well as many State banks aud private bankers, have been
unable to meet the continued strain. It is, however, surprising thatthe
occasional failure ofa uational bank, to whatever cause due, with comparatively small capital and liabilities, should give rise to so much comment and excitement, when the numerous^failures of State banks and
* And interest.
COMPTROLLER OF THE CURRENCY.
157
private banks, of mercantile and manufacturing firms, and of joint-stock
enterprises, causing losses vastly larger than those occasioned bythe failures of national banks, attract comparatively little attention or criticisiUo
As a rule, the jobber, manufacturer, or joint stock concern has obtained his or its capital in such a manner that the effects of their disasters are more widely distributed, and therefore less noticed. The failing
State bank and private banker, however, equally with the national bank,
inflict loss upon the immediate community iu which they are located,
and apparently the complaint should be as great of one class as of the
other, whichf however, is not the case.
It is also of interest to know that this is not the only country which
has suffered from financial troubles, caused by the failure of banks and
bankers. Banks of note have failed during the year in England and her
provinces. The failure of the Oriental Bank was especially noticeable.
This institution was represented by branches in India, Australia, and
elsewhere throughout the British empire. It owed its depositors about
six or seven million pounds sterling, equivalent to thirty to thirty-five
raillions of dollars. The liabilities of this one institution were therefore about equal to the aggregate liabilities of all the State and private
bankers failing in the State of New York during the last year. The
failure of the Oriental Bank' was in some measure due to its giving its
support to what in this couutry would be termed wildcat land speculations.
The most notable national-bauk failure of the year in the United
States was that of the Marine National Bank, of the city of New York,
which closed its doors about 11 a. m. on the 6th of May. The bank examiners of the city of New York immediately took possession of the
bank and found that it had been indebted to the clearing-house that
day in the sum of $555,000. The examiner also found the account of
onp firm overdrawn on the books ofthe bank to the amount of $766,570.14.
Upon further examination it was found that this firm owed a total of
about $2,430,500, being more than six times the capital of the bank.
A portion of this indebtedness was in the names of other parties—clerks
in their ofifice and relations of one of the firm. How far the ofificials of
the bank are criminally responsible for these matters is a subject now
under investigation in the courts. The Oomptroller finds from the reportof the examiner that this firm had three different accounts with the
bahk—a private account of a member of the firm, a general account and
a special accouut. It appears, from an examination of the transcript of
these accounts, that on May 5 their special account was overdrawn by
certified checks $383,402.07, aud that on the same day their general account was also overdrawn. It is apparent, therefore, that the bank had
violated the law in regard to certifications by permitting these overdrafts.
It is claimed, however, by the officers of the bank that these certifications were made against securities which were subsequently obtained
from the bank by one of the firm upon his representations that he had
obtained a loan upon them elsewhere, and would make good his account.
A further examination of the various accouuts of the firm shows that
while the certification of their cliecks was carried on to an enormous extent, they also made very heavy deposits from day to day^ and it will,
perhaps, be ver^^ difficult to furnish evidence proving conclusively that
the checks were certified before the deposits were made.
Ah examination of the minutes of the board of directors of the bank
shows that on the l l t h day of April, 1884, twenty-five days before the
failure of the bank, the committee of examination appointed by the
board of directors reported that they had examined the securities;
158
REPORT ON THE FINANCESo
counted the bills and specie, and examined the balances on the ledgers
of the bank, and found the recorded statement of the 7th of April, 1884,
to be correct. The minutes further show that the directors were iu session about an hour before the bank closed. They apparently had no
suspicion of the state of its affairs, and voted to discount certain offerings of commercial paper; and within half an hour after the adjournment of this meeting the bank closed its doors. It would seem, therefore, that the board of directors was grossly deceived as to the true state
of affairs.
In this connection I desire to state that the records of the Ooraptroller's office show that many of the transactions of the Mariue Natioual
Bank of the city of New York have been looked upon with disfavor,
and that the association had been frequently reprimanded for irregularities during the past few years. None of the reports of examinations of the bank made to this office, however, disclosed any violations
of the law forbidding the overcertification of checks, or gave the Department any adequate idea of the dangerous character of its loans, and
this is not surprising, the directors of the bank having been equally
deceived in regard to the situation. '
.
After reviewing the information in his possession, it seems t o t h e
Comptroller that the failure of the Marine National Bank is in consequence of the boai'd of directors having chosen for their president a
man. who was willing to risk his own honor and the funds of the bank
in speculation. He joined with himself another, who is now in Ludlowstreet jail under indictment, and who was also a member of the board
of directors of the bank. While it is true that the final failure has shown
that there were overcertifications on thelast day, the Oomptroller judges,
from the information which he has received, that the bank had been
for along time in the power of the firm to whom the certifications were
granted, through the president's copartnership. This matter was carried
to the extent of permitting one of the firm to have access to, and apparently free disposal of, the securities left as collateral to his loans, and,
so far as actual results are concerned, he might as well have had the
combinations of the cash vaults of the bank and helped himself to their
contents.
The Metropolitan National Bank suspended and closed its doors about
noon on May 14, and opened again for business at 12 o'clock on the following day, the bank examiner remaining in charge of the bank during its suspension. He also remained at the bank during the first days
of its resumption, and has frequently visited it since, and forwarded reports as to its liquidation of deposits. Before permitting the bank to
resume business the Oomptroller received assurances from the examiner
that the bank was solvent, and also received telegrams from the president and chairman on loans of the New York Olearing-House, stating
that in their opinion the bank was solvent and should be permitted to
resume. The bank is now closing its affairs, having arranged to pay its
depositors in full and gone into voluntary liquidation under sections.
5220 and 5221 of the United States Eevised Statutes.
It is difficult to determine, in the case of this bank, what brought
about its suspension. From the information which the Oomptroller has,
however, it appears that the president of the Metropolitan National
Bank had the credit, at least, of being a very large speculator. He was
supposed to be a man of very large ineans nnd was interested iu many
enterprises which required the use of large sums of money. The general liquidation in railroad and other securities which has beeu going
on for the past two j^ears had no doubt affected the properties in wMch
;
COMPTROLLER OF THE CURRENCY.
. 159
the president was interested, and the public having become suspicious^
and apparently believing that he was a large borrower from the bank,
and had loaned money to parties who were interested with himself, all
of whom were assumed to have lost largely by this depreciation of property, rumors were circulated which excited distrust and suspicion against
his bank and caused the run upon it which resulted in its suspensiouo
Eeports of examinations do not disclose any overcertification of checks,
and I cannot conclude that irregularities of this kind had anything to
do with bringiug about the suspension.
The Metropolitan National Bank was examined on April 28, 1884.
The examination disclosed certain irregularities, and a letter was
promptly written to the bank, requiring the correction of the irregularities, and forbidding the declaration of any further dividends until this
had been done. While this letter was acknowledged, the matter was
pending at the time of the suspension of the bank.
The trouble at the Second National Bank of the city of New York
grew out of a defalcation amounting to $3,185,000 by the president of
the bank. The amount of this defalcation was immediately guaranteed
and the money paid in by the directors. Owing to this prompt assistance the bank did not suspend, and is going on with its business in a.
solvent condition. As far as this office is advised, the president used
the money in speculations iu Wall street, and was able to conceal the
fact of his misappropriation of the funds of the bank pn account of the
securities being kept in a vault located at some distance from the regular banking rooms, which are on the corner of Twenty-third street and
Fifth avenue. It appears that the president had access to these securities without check or hindrance, and used them to obtain money for
his own private speculations.
In the matter of the failure of the Marine National Bank of New York,
and the defalcation at the Second NationalBank of New York, it appears
from the information on file in this office that there have been not only irregularities, but violations of section 5209 United States Eevised Statutes.
GChe United States district attorney at the city of New York is in communication with the national bank examiner and the receiver of the
Marine National Bank in regard to these matters, and the facts, whicli
have been submitted to this office, the Oomptroller has formally transmitted to the Attorney-General ofthe United States through the Secretary of the Treasury.
Siuce the commencement of the national banking system 100 banks
have been placed in the hands of receivers, 474 banks have voluntarily
closed their business, by the vote of shareholders owning two-thirds of
their stock, under the provisions of sections 5220 and 5221 of the Eevised
Statutes of the United States, and the corporate existence of 15 banks
has expired by limitation. Of the banks in the hands of receivers, 9 had
been previously placed in voluntary liquidation by their stockholders,,
'but failing to pay their depositors, receivers were afterwards appoiuted
by the Oomptroller to wind up their affairs. "^ Of the 100 banks placed
in the hands of receivers, 63 have been finally closed, leaving 37 still in
process of settlement; 21 of which, as has been seen, are awaiting the
results of pending litigation, leaving about 16 receiverships only in active
operation.
The loss to creditors of national banks which have been placed in the
hands of receivers during the twenty-one years that have elapsed since
the passage of the act of February 25,1863, as near as can be estimated,
including dividends which will probably, be hereafter paid, has been
about $8,266,000. The annual average loss has been, therefore, about
160
REPORT ON T H E
FINANCES.
$400,000 in the busiuess of corporations having an annual average capital of about $450,000,000, and which have been responsible for the
safe-keeping of deposits in their hands, averaging constantly over
$800,000,000, or about one-twentieth of 1 per cent, of annual loss to
depositors.
The total amount paid to creditors of insolvent national banks
amounts to $23,499,522, upon proved claims amounting to $38,489,810.
The dividends so far paid thus equal about 61 per cent, of the proved
claims. The amount paid during the year was $1,720,850.
Assessraents araounting to $8,901,750 have been raade upon the stockholders of insolvent national banks for the purpose of enforcing their
individual liability under section 5151 of the Eevised Statutes, of which
$3,633,957 has been collected—$282,678 during the past year.
A table showing the national banks which have been placed in the
hands of receivers^ the amount of their capital, of clairas proved, the
rates of dividends paid, and also showing the amount of circulation of
such banks issued, redeeraed, and outstanding, will be found in the
appendix.
Whenever the failure ofa national bank has disclosed crirainal violations of the natiohal bank act on the part of officers or directors, or
whenever the reports of national bank exarainers have disclosed sirailar
violations, all the evidence procured pertaining to such transactions has
been coraraunicated tq the Department''of Justice through the proper
channels, and receivers and examiners have been instructed to furnish
all assistance in their power to the United States attorneys in the several districts.
I t is the intention of the Oomptroller to rigidly enforce the bank act
and to call the attention of the Department of Justice to any criminal
violations of the same, but experience has proved that itis difficult, not
only under the bahk act, but generally under criminal statutes, to always obtain sufficient evidence to convict offenders. The Oomptroller
is ofthe opinion that, with a few exceptions, the Dational-bank act has
adequate provisions for the prosecution and conviction of those who
lay themselves lialble to its penalties. As stated elsewhere, bank failures are not so much due to the inadequacy of the law as to the failure
on the part of the directors to maintain a proper supervision of the affairs of their associations and of the conduct of their officers.
'
'
ILLEGAL CERTIFICATION OF CHECKS.
In reference to the matter of illegal certification of checks by the
national banks of the city of New York, the records of this office show
that iraraediately upon the passage of the act of July 12,1882, the bank
examiner for New York Oity was directed to furnish information as to
whether it was the custom aud practice of the national banks of that
city to certify checks in violation of section 13 of that act, and seption
5208, United States Eevised Statutes. Many of the banks in New York
imraediately took advice of their attorneys, and opinions were sent to
this office which were deeraed of iraportance in the raatter. The raain
point of these opinion^ was that the certifications forbidden were a form
of acceptance, and that the right to make a general acceptance was not
interfered with, reference being made to the third clause of section 5136,
Uniied States Eevised Statutes, which confers upon national banks
the power to make contracts. Many of the banks of New York, actiug
upon these opinions of their attorneys, changed the form of certifications, and the majority of the banks seem to have staraped their checks,
COMPTROLLER OF THE CURRENCY.
161
for the purpose of certification, with the word '^accepted,'' giving the
date, and with the name of the teller written underneath.
On October 4, 1882, a letter was addressed to the Secretary of, the
Treasury asking him to refer .certain questions which had arisen urider
the law to the Attorney-General for an opinion.
On November 24 the Attorney-General returned his opinion. In reply
to the first question, whether a national bank had the right to accept
checks drawn upon it unless the drawer has the amount stated in,the
check actually on deposit iu the bank, he replied'in the negative. To
construe otherwise he held would be to allow a device to evade the provisions of law.
In reply to the second question, whether an acceptance under such
circumstauces would create a liability to the bank for raoney borrowed,
and as such be subject to the liraitation of section 5200 of the Eevised
Statutes, confining such liability to one-tenth of the capital stock of the
bank, the Attorney-General replied in the negative, as the acceptance
under such circurastances would not be a loau of inoney but of credit.
To the third question, as to whether such acceptances to an extent
greater than the capital ofthe bank would be a violation of section 5202
of the Eevised Statutes, the Attorney-General replied in the affirmative.
' Immediately upon receipt of this opinion the bauks were notified of
the same, and warned that due regard must be had to the law as interpreted.
On July 19, 1883, a circular letter was sent to the New York banks
asking information as to the large amount of certified checks and acceptances appearing in their last previous quarterly report, to which
answers were duly received.
By an exaraination of the Wall Street National Bank, raade on Septeraber 4,1883, what appeared to be a clear case of,violation of law was
discovered, and a letter was addressed by ray predecessor to the Secretary of the Treasury, inclosing a copy of the report, and asking hira to
transrait it to the Department of Justice for action. Although an endeavor was made by the district attorney to have all the officers of the
bank indicted, yet the grand jury found an indie traent ouly against
the teller of the bank. When brought up for trial he plead guilty, but
presented an affidavit showing that he had acted under the direction of
his superior officers. The judge suspeuded sentence to admit of evidence of the implied charge against these officers. The district attorney
was heard iu this matter before a U.nited States comraissioner, and presented evidence agaiust the officers, and a decisiou has beeu rendered
holding all the officers for triaL as follows:
;
*
*
*
#
#
*
•¥
The teller,
, stands indicted for/the oifense with which the defendants here
are charged, and I am informed t h a t the court has suspended action pending procetedings to ascertain the relations of tbe principal officers of the bank to tbe
transactions in question. T h e b a n k examiner, during his examination, stated t h a t
this was tbe tirst case arising under tbe law in wbich proceedings bad been instituted.
I feel tbe delicacy of any position in baving to pass nxDon tbe questions involved in
tbe absence of any adjudication. It appears that the defendants, Evans and Timpson,
bad no knowledge of tbese transactions witb reference to Cecil, V^ard & Co., and it
bas been suggested in the course of tbis examination tbat tbey be regarded as practically out of the in vestigation. Tbe statute reads : " A n y officer, clerk, or agent who
shall," &c. Tbe clerks did not adopt the plan of acce]3ting cbecks in lieu of certifying. W b a t part tbe cashier may bave bad in the adoption of it remains to be seen.
I do not regard bim as necessarily tbe gnilty party or the only offender simply because
he carried out the instructions of the bank or its policy. The device which constistutes tbis evasion need not to bave originated on the day in question when it resulted
in the violation of tbe law. Tbe cause, tbe device, may have originated long prior.
I shall surely hold tbose who caused the violation. From the evidence before me I
5022 F
11
162
REPORT ON THE
FINANCES.
cannot avoid tbe conviction t b a t tbe model of accer)ting was r< sorted to purposely to
evade tbe l a w ; in otber words, t b a t tbey migbt in tbis way give customers credit
beyond tbe amonnt of tbeir deposit; t b a t is exactly wbat tbe.law forbids by certified
checks, and it forbids it also by resorting to a device to accomplisb it otherwise.
That tbe law has been violated I have no doubi:.. Whom of tbe defendants should
be adjudged tbe guilty party, aud whether one or more, is for the court to determine
and not for me to say. I have come to tbe conclusion to hold all the defendants, t h a t
all questions presented by tbis case may be fully beard aud rietermined by t b » court.
#
*
*
#
^f
*
*
The reports to Oongress of my predecessor for the years 1882 and
1883 contained full information in regard to the certification of checks,
legal and illegal, and enumerated the numerous ways there were of
evading a technical violation of the law. At the same time a history
of the growth of the practice of certifying checks was given. Oertification was in use as a method of busiuess ibr more than thirty
years previous to the organization of the national banking system, and
a t least twenty years previous to the establishment of the clearinghouse. It is the province of the office of the Oomptroller of the Ourrency to call the attention of the proper officers of the Governmeut to
evidence by which violations of law may be punished. In regard to
over-certification of checks, unless they result in loss, it is almost impossible to obtain eAndence which will convict the offenders. The examiner cannot be iu the bank at all times. He must depend for his
knowledge of its busiuess upon an examination of its books and accounts, and the general conduct of its business while he is making his
exaraiuation. In any case of certification, where uo loss is encountered,
the books at the close of the day, as a rule, show deposits equal to or
greater than the checks drawn. In the case of the Wall Street National Bank a loss occurred' by ^hich the violation of the law was
made apparent, and ])roceedings were commenced. In the case of
the Marine National Bunk the Oomptroller judges from the information on file that there is good evidence of over-certification, and, as
has been seen, action has already been taken by the United States
district attorney. It has been stated to the Comptroller that on the
day of the suspension of the Metropolitan National Bauk many of the
brokers engaged in business on Wall street, in New York, were very
indignant at the national banks because they would not over certify
their checks, aud in this way lend their credit to afford the brokers relief in the emergency. It is the opinion of the Oomptroller that since
the passage of the act of July 12,1882, the officers of the nationalbanks
of New York have given the matter of certification of checks 'their
serious attention, and that they have endeavored to diminish the dangerous features of this method of doing business.
After the passage of the act of Jul}^ 12, 1882, my predecessor suggested the establishraent of a stock clearing-house to enable the
brokers to raake their settlements without calling upou the banks to
certify their checks for the purpose of clearing their stocks. This matter has received careful consideration by the bankers and brokers of
New York. No plan has yet beeu suggested, however, which has
seemed to meet the peculiar requirements of the Stock Exchange business in New York. The Oomptroller hopes that the recent troubles
growing out of Wall street speculations will force the bankers and
brokers of New York, for their own protection, to agree upon a stock
clearing-house systera, and he believes that the present is an excellent
tirae for the conservative bankers in the city of New York to raake a
move in this matter./
The Oomptroller believes, however, that overcertification of checks,
viz, the certification of checks as " g o o d " when no funds are fo the
COMPTROLLER OF THE CURRENCY.
163
credit of the drawer of the checks, is^not only practiced for the accommodation of the brokers who deal in stocks, but is also done for the
accommodation of the dealers in produce. These dealers often require
large temporary accommodations' of money to take up bill^ of lading
for produce which has been shipped to them from the interior, and
which they desire to take from cars and warehouses for shipment
abroad, and some accominodation is necessary in the interim until the
oceau bills of lading can be.obtained and exchange drawn against the
consignment. While-this practice is reprehensible and is not legitimate as a bauking transaction, business has beeu and is cariied on in
this mauuei', and the fact that the national banks of the city of New
York are endeavoring to comply with the law in regard to illegal certification of checks has caused many dealers iu produce to withdraw
their accounts from the national bauking associations and has largely
increased tue business, of certain of the State banks, which are under
no restrictions of law in this matter. This is particularly noticeable in
the case of the bank which was organized under the auspices of the
New York Produce Exchange.
BANK EXAMINATIONS.
The recent financial disturbances throughout the country, and the
consequent failures of national and State banks, have called the attention of the public to the official examination of banks as couducted
under the authority of the national-bank act, and uuder various State
'laws.
•
,
The national-bank act provides for the issue and regulation of a national curreucy secured by United States bonds, and provides, also, for
a banking system, in order to facilitate the issue of this circulation. It
contains provisions bestowing certain .privileges upon the banks organized under it, and provides many safeguards for the public by imposiug
on these banks such restrictions as the history of banking throughout
the world has seemed to indicate were of a character to create a safe
and permanent banking system. This law has been amended and improved from time to time, but it is not to be supposed that the national
banking system is absolutely perfect, nor that imprudent bankiug under
it can be altogether prevented.
In order to enable him to ascertain if the provisions of the law are
followed, section 5240 Eevised Statutes authorizes the Oomptroller to
appoint suitable persons to make an exainination of the affairs of every
national banking association. It has beeu customary from the establishment of the system to have a regularly appoiuted examiner visit
each natiohal bauk at least once a year, in many cases twice a year,
and when deemed necessary, even more frequently. The examination
ofnational banks is conducted by the examiners in accordance with instructions issued from this office, which iustructions, both general aud
specific, have grown with the growth of the system. The first general
instructions to examiners were issued September 15, 1864, by the Hon.
Hugh McOulloch, then Oomptroller ofthe Ourrency, and as the bauk act
has been amended and revised these instructions have beeu altered as
circumstances seemed to warrant. It has been the aim of the Ooraptroller
to increase the efficiency of the examinations by carefully noting the
causes that have in particular cases led to the suspension or failure of
national banks, and calling the attention of the-examiners to these
causes, suggesting such uiethods of examination as seeraed to be best
164
,
REPORT ON THE FINANCES.
calculated to prevent repetition of such disasters, and to expose violations of law which led to the same.
This official inquiry iuto the affairs of a national bank does not end
with the mere inspection of the cash, bills receivable, books and accounts
of the association, but the examiuers are instructed to closely scrutinize
the business of the bank, to investigate the standing and fitness for
their positions of the persons to whom the nianagement of the affairs of
the association are intrusted, and the raanner in Avhich the business is
usually conducted, whether prudently or otherwise; to ascertain as far as
possible the character of the loans and discounts of the bank, and what
losses, if any, have been or are likely to be sustained.
« 30m
The examiner is also instructed to ascertain how frequently the board
of directors meet together to consult in relation to the affairs of the bank,
and to discover if possible any malfeasance in office or willful neglect
of business ou the part of the management; and is moreover particularly instructed to rexiort to the Oomptroller whether any excessive accommodations are granted in violation of sectioii 5200 Eevised Statutes,
and to note if the officers of the bank are borrowing largely from the
association 5 to ascertain the customary state of the lawful-money reserve
by examining the daily statements for sorae time previous to the exaraination 5 whether or uot the bank borrows raoney to loan again ; and in
short, to discover and report to this office all violations of law of whatever character,
•
Upon receipt of the report at this office all raatters above raentioned,
and such others as raay be referred to therein, are carefully reviewed
and considered, and the directors of the bauk are iramediately notified
of all violations of the law, and they are required^ to have the same
promptly corrected. The attention of the directory is also specially
called to the reform of such raatters as are deeraed detrimental to the
safety and welfare of the association.
The general public do not understand the amount of labor performed
weekly, monthly, and yearly by the examiners of national bauks, many
of whora have for years rendered most excellent service. It can hardly
be expected, however, with the limited compensation allowed by law
for making these examinations, that the Oomptroller can in all cases retain the services of the most expert accountants, although by systematic
division of the labor he has endeavored to obtain the best results possible under the circumstances.*
For the purposes of bank examinatiou the United States is apportioned into twenty-five districts, bank examiners being stationed in
each district. Important reserve cities, such as NewYork and Boston,
generally form a district of themselves, and the duties of the examiner
stationed there are usually confined to that city and its immediate
vicinity. Owing to the nature of the work, the position of a nationalbank examiner is one of great responsibility. Notwithstanding their
vigilance, the most competent examiners are liable to be deceived, and
* I t is submitted that the coinpensation allowed national-bank examiners by section 5240, Revised Statutes, is often insufficient. Tbe assessments upon tbe banks',
hy which tbe law provides t b a t tbe examiners' fees sball be paid, are based upon the
capiial of the national banks examined, and vary, according to capital, from |20 to
^75. In many instances tbe capital is not the proper basis upon which to compute
the compensatiou of nar.ional-bank examiners, as many banks with a coniparatively
small capital have large lines of deposits, aud consequently do a much larger business and require more time and labor from the examiner t h a n other associations with
the same capital. Tbe Comptroller is of tbe opinion t h a t tbe fees paid to nationalbank examiners should be based upon the capital and average deposits of tbe natioiialhankin'g association.
°
'
COMPTROLLER OF THE CURRENCY.
165
sometiraes find it impossible to discover and remedy iu time even gross
mismanagement of the affairs of national banks.
No la\ys or system of examinations will preventodishonest men from
keeping false accounts and rendering untrue statements, and by raeans
of these and other devices they can conceal frora the exaraiuer.the fact
that they are using the raoney intrusted to their charge in private speculations until final disaster raakes longer disguise irapossible. It is
thus exceedingly difficult to detect violations of law or misuse of the >
funds of a bank.
The surest preventive is to have an honest, active, and competent
board of directors. A rogue or a d^honest man, who acquires the confidence of his associates to such an extent that he cau appropriate the
funds of a bank for his own use without their knowledge or that of the
board of directors, cau have but little trouble in deceiving the examiner
and hiding his peculations from hira.
In tiraes of financiahdisaster and of a stringent money market the
act.s of dishonest and corrupt officials in any bank or banking firm or
private corporation are more liable to be discovered, aud naturally during the last year the consequences of disastrous speculation, which had
been for a long period carried on with impunity with the aid of misappropriated funds, have been brought to the surface. Men who were
supposed to be worthy of the entire confidence of comraunities, whose
character stood so high that ihey were intrusted not only with the
nianagement of corporations, but with the investment of private
funds, have now been proven to have dishonestly betrayed their trust.
Never were the instances of this kind more nuraerous than during the
financial troubles of the present year.
Such practices and the resulting disasters, howevrT, do not prove
that the national banking laws are inefficient, or that the national bank
examiners do not do their duty. They rather indicate that the shareholders of joint-stock corporations of all kinds, and particularly those
of banks, should be more careful to elect men as directors and trustees
who are competent and who will exercise proper care and supervision
over the manageraent of the affairs intrusted to them, who will select
competent and honest officers, provide suitable rules and regulations for
the conduct of the bank, keeping its accounts, &c., and appoint regular
committees of examination, whose duty it shall be uot only to verify the
accounts, but to keep a watchful eye over the affairs of the association
and the officers who immediately carry them on.
The public frequently draw wrong deductions as to the responsibility
of the Government and the bank examiners iu particular cases. For
instances, in many cases where.failures occur the principal cause is found
in the character of the loans made, which are either excessive or made on
improper security. There are 2,671 national banks iu the country. ''The
loans aud discounts of the banks at the close of business September
30, aggregated more than $1,240,000,000, and it is of course not the
province of the bank examiners to supervise the making of these loans.
Section 5200, Eevised Statutes, provides that no loans shall be made to
any one individual, firm, or corporation in amount exceediug one-tenth
of the paid in capital of a bank, but there are many ways of evading
this law, and it is a physical impossibility for the Government to maintain the coustant espionage over the affairs ofthe riational bankswhich
alone would prevent the violation of this statute. Any attempt to
direct the making of loans and to dictate to the directors and managers
of the natioual banks throughout the country as to what use they shall
make of their funds would, of course, be impracticable.
1 6 6 ,.
REPORT ON THE FINANCES
Many instances occur daily, which are not seen or kuown to the general
public, where the banks are notiiied of violations of law, and where their
conditiou is improx^d by action upon the reports of the examiner.
When, however, some unexpected failure occurs, brought about by injudicious banking, bad management, or adventurous speculation, or by
dishonesty and fraud on the partof the officers or directors, who are
the very men to whom the examiner must more or less look fbr information, the Government and the national banking laws are unjustly
criticised. The fault is not with the law and not with the examiner, on
whose reports the directors have very likely been notified and warned
to exercise more care in the management of their affairs and to hold
their officers in check.
A national bank being a joint-stock association, its aggregation of
capital having been brought together by bankers or other persons for'
the purposeof utilizing niore eliectually the resources ofthe locality in
which it i.^ doing business, it is not the intention of the bank act to interfere with the business of said association so long as it is conducted
in accordance with the law. The exact line at vvhich the Government
shall interfere and the point at which Government discipline shall commence is a matter of some delicacy to determine. It is exceedingly
difficult to add materially to the restrictions of the national-bank act
without such an interference with the business of the banks as would
be practically prohibitory, for it is well known that banking can be '
carried on under the laws of most of the States of the Union with but
very little interference and scarcely any espionage on the part of the
officials of the State government. It is because thenational banking
system has raised the standard of banking, and because it is generally
understood that money deposited with a national bank is as a rule much
safer than in institutions not under similar restrictions, that bankers and
capitalists avail themselves o f t h e national-bank act in order to gain
the confidence and thereby the deposits and business of the public.
The act appears to contain ample provisions forthe punishment of
criminal offenders, and the Oomptroller is of the opinion that it is not
so.much the lack of law, as it is the difficulty of detection of offenders
and of obtaining sufficient evidence to convict, that has prevented the
punishment of officers and others connected with national banks
who have violated the criminal sections of this act. In some cases t h e
directors and shareholders of banks have apparently suppressed information and evidence, and in many instances it has been with great
difficulty that the Oomptroller was able to present the necessary facts
to the Department of Justice to make a case. For obvious reasous,
the number of instances in which this office has endeavored to secure
the arrest and conviction of offenders by reporting to the proper officers of the law facts that came to the knowledge of the Oomptroller,
which seemed to indicate certaiu violations of law, cannot be presented,
but it is believed that the records of the" various States and United
States courts show a larger nuraber of indictments and of convictions
for violations of the national-bank act than is generally known to the
public.
I t is possible that the provisions of the act relating to the punishment
of offenders in the matter of false oaths of officers of banks with intention of deceiving the Oomptroller as to the correctness of reports might
be profitably amended. The Oomptroller is of the opinion that if the
criminal provisions of the bank act are to be amended, the Department
of Justice of the United States should be consulted for suggestions as
to any weakness or defect in the existing law.
167
COMPTROLLER OF THE CURKENCY.
I
TRANSACTIONS OF THE N E W Y O R K CLEARINO-HOUSE.
The New York Olearing-House Association is composed of forty-four
. nationaband seventeen State banks, and the assistaut treasurer of the
United States at New York.
. Through the courtesy of Mr. W. A. Oamp, its manager, a statemeut
of the transactions during the year ending October 1, 1884, has been
obtaiued, which shows that the i total exchanges were more than
thirty-four thousand millions of dollars, while the balauces paid in
raoney were nearly 1,525 raillions. The daily average balances i3aid
were $4,967,202, or nearly 4.5 per cent, of the araouut of the settlements.
The balances paid in money during the year consisted of $751,382,000
in clearing-house certificates of the Bank'of Araerica, clearing-house
certificates for legal-tender notes araounting to $20,320,000, and clearing-house loan certificates, $7,0,510.000; legal-tenders ainounting to
$4^2,198,994; Uuited States gold certificates, $640,370,000; and $150,000
in gold coin. Since the date of the issue of the new gold certificates
(October 4, 1883) authorized by the act of Juiy 12, 1882, the greater
portion of the balauces due from the Goverument have been paid in
these certificates instead pf coin, thus dispensing with the movementof
large amounts iu bags and upon drays from the Treasury to the custody
of the banks. During the last six months, however, a portion of the
balances due from the Treasury of the United States have been paid in
legal-tender notes.
The followiug table shows the yearly transactions of the New York
Olearing-House fqr the thirty-one years since its organization in 1853,
and the amounts and ratios of currency required for the payraent of
daily balances:
Years.
N o . of
banks.
Capital. *
Exchanges.
Balances paid
in m o n e y .
, Average
daily
exclianges.
Average
d a i l y balRatios.
ances paid
in money.
1
1854
1855
1856
1857
18,58;
1859
1860
1861
1862
1863'1864
1865
1866.......
1867
1868'.......1869
1870
1871'
".
1872.
1873-.
1814
".
1875
1876;
1877'
1878
1879:
.^
1880.......
1881
1882........
1883 . . . . . . .
1884,
•
.
50
48
50
50
46
47
50
50
50
50
49
55
58
58
59
59
61
62
61
59
59
59
59
58
57
59
57
60
61
63
61
$47, 044, 900
48, 884,180
52, 883, 700
64, 420, 200
67,146 018
67, 921 714
69, 907 435
68, 900, 605
68, 375. 820
68, 972, 508
68, 586, 763
80, 363 013
82, 370, 200
81,'770 200
82,270 200
82,720 200
83,620 200
84, 420, 200
84,420 200
83, 370, 200
81, 635, 200
80,435, 200
81,731,200
71, 085, 200
63,611,500.
60, 800, 200
60, 475, 200
61,162,700
60, 962, 700
61,162, 700
f60,412,700
173, 607, 837
$5, 750, 455, 987
5, 362, 912, 098
6, 906, 21.3, 328
8,333,226,718
4, 756, 664, 386
5, 448, 005, 956
7, 231,143, 0.57
5, 915, 742, 758
6, 871, 443, 591
14, 867, 597, 849
,24, 097,196, 656
26,032,384,342
28, 717,146, 914
28, 675,159, 472
28, 484, 288, 637
37, 407, 028 987
27, 804, 539 406
• 29, 300, 986, 682
33, 844, 369, 568
35,461,052,826
22, 855, 927, 636
25, 061, 237, 902
21, 597, 274, 247
23, 289, 243, 701
22, 508, 438, 442
25,178, 770, 691
37,182,128, 621
.48, 56,5, 818, 212
46, 552, 846,161
40, 293,165, 258
34, 092, 037, 338
Per ct.
$297, 411, 494 $19,104, 505
$988, 078
• 289,694,137
17, 412, 052
940, 565
334,714 489
22, 278,108
1, 079, 724
365, 313 902
26, 968, 371
1,182,246
314,2.38 911
15, 393, 736
1, 016, 954
363, 984 683
20. 867, 333
1,177 944
380, 693 438
23,401 7.57
1, 232 018
3.53, 383, 944
19, 269, 520
1,151, 088
415,530,331
22, 237, 682
1, 344, 758
677, 626, 483
48,'428, 657
2, 207, 252
885, 719 205
77, 984, 455
2, 866, 405
1, 035, 765 108
84, 796, 040
3, 373, 828
1,066,135 106
93, 541,195
3, 472, 753
1,144,963 451
93,101 167
3, 717 414
1, 125, 455 237
92,182 164
3,642 250
1,120,318,308
121,451 393
3, 637 397
1,036,484 822
90, 274 479
3, 365 210
1, 209, 721, 029
95, 133, 074
3, 927, 666
1,'428,582,707
109,884 317
4, 636 632
1, 474, 508, 025 115.885 794
4, 818 654
1, 286, 753,176
74, 692 574
4, 205, 076
1,408,608,777
81, 899 470
4, 603, 297
1,295,042,029
70, 349 428
4, 218, 378
1, 373, 996, 302
76,358,176- 4, 504, 906
1,307,843,857
73, 555, 988
4, 274, 000
1,400,111,063
, 82, 01.5, 540.. 4, 560, 622
1,516,538,631 121, 510, 224
4, 956, 009
1, 776, 018,162 159, 232,191 ' 5,823,010
1, 595, 000, 245 151, 637, 935
5,195, 440
1,568,983,196
132,543,307
5,161,129
1, 524, 930, 994 1111,048,982 14, 967, 202
+ 719,444,447,427 + 31,374,071,242
+ 75,627,084
+ 3,298,322
5.2
5.4
4.8
4.4
6.6
5.6
5.3
6.0.
6.0
4.6
3.7
4.0
3.7
4.0
4.0
3.0
3.7
4.1
4.2
4.1
5.7
5.6
5.9
5.9
5.8
5.6
4.1
3.5
3.4
3.9
4.5
4.4
1
* The capital is for various dates, tbe amounts at a uniform date in each year not being obtainable,
t Yearly averages for thirty-one years.
J Totals for thirty-one years.
168
REPORT ON T H E
FINANCES.
The total araount of transactions for the thirty-one years given iu the
table is $719,444,447,427, and the annual average is $23,207,885,401.
The clearing-house transactions of the assistant treasurer of the
United States at New York for the year ending October 1, 1884, were
as follows:
Exchanges received from clearing-house
Exchanges deUvered to clearing-house.^
,
Balances paid to cleariug-house
Balances received from clearing-house
'. ^303, 006, 595 76
114,259,250 65
189, 774, 471 02
1, 027,125 91
Sliowing t h a t the amount paid by the assistant treasurer to the clearing-house vras in excess of the amount received by him
188, 747, 345 11
A table corapiled frora s^tateraents raade by the New York OlearingHouse,'giving the clearances and balances weekly frora Septeraber 6,
1879, to November 29, 1884, inclusive, will be found iu the appendix,
and is valuable for purposes of comparison.
The following interesting table has been copied from the Oomraercial
and Financial Ohronicle, of New York Oity, pf Noveraber 8,1884, which
gives the latest information concerning the exchanges at New York
and other cities, having clearing-houses, for the week ending November
1, comparing them with those for the corresponding week in 1883, and
showing the percentage of diiferences.
The exchanges at the same places for the month ending November
1,1884, are also given, with the percentage of differences resulting from
a comparison with the exchanges for the same month of the previous
year.
°
Week.
October.
Cities.
1883.0
Per
cent.
' 1884.,
1883.
New York
$458, 532, 568
Boston
58, 811, 468
Cbicago
44, 515, 793
Philadelphia
39, 828, 337
13,365,680
San Francisco
12, 918, 575
Saint Louis . .
11, .577, 658
Baltimore
. . . ..
Pittsburg ..
8, 461, 699
8,173, 506
New Orleans.:..
8, 062, 250
Cincinnati.... ..
'.
4, 498, 700
Providence . . . . .
3, 702, 453
Milvvaukee
3, 602, 645
Kansas City
3. 289, 467
liOuis ville
2, 690, 565
Detroit
Cleveland . . . . '
1, 881, 996
1..385, 609
Memphis
1,335,327
Indianapolis .
1, 192, 532
Columbus
Hartford
1, 171, 465
1,023,975
Portland
1, 016, 038
New Haven
808, 300
Worcester
776, 746
Peoria
653, 389
Springfield
456, Oil
liOwell
-.
$817, 996, 284
77, 604, 702
52, 290, 730
54,734,467
14,116, 594
15, 611, 326
14,159, 848
9,196, 834
10, 070,423
. 10, 566, 300
4, 269, 000
4, 054, 058
2, 614, 750
5, 574, 709
2, 859, 650
2, 5.50,172
1, 647, 654
1, 628,123
1, 477. 885
1, 654, 245
1,071,846
1, 264, 022
848. 431
1, 244,180
854. 667
624, 475
—43.9
-24.2
—14.9
—27.2
- 5.3
—17.2
—18.2
— 8.0
—18.8
—23. 7
-1- 5.4
- 8.7
-f-37.8
—40.0
— 5.9
—26. 2
—15.8
—11.8
—19.3
—39.1
- 4.5
—19. 6
— 4.7
-37.6
—23. 5
—27.0
$2, 633, 548', 891
316,845,984
227, 674, 704
228, 081, 673
60,104, 591
70,102, 499
63, 893, 411
41, 276, 673
39, 902, 793
42, 842, 750
21,172, 900
18,145,113
19,216,929
18, 036, 747
14,729,721
10, 328, 885
5, 948, 147
6, 494, 894
6, 353,170
7, OC'3, 758
4, 960, 691
5, 519, 401
4,197, 660
4, 310, 800
3. 670, 831
2, 569, 967
$3, 831, 718, 815
326,154, 461
233, 382, 807
265,345,366
'
58,809,453
74. 496, 955
65, 253,165
40, 029, 954
42, 636, 890
46, 698, 950
25, 954, 600
16, 531, 865
12, 823. 250
20, 377,144
13, 920, 430
10, 062, 468
,5, 751,259
7, 092, 972
6,149, 411
8, 019. 839
4,512,412
5, 434, 781
4, 072, 912
4, 596, 986
3, 798, 636
2, 893, 936
693, 732, 752
1,110, 585, 375
—37.5
3, 877, 533, 583
5,136, 519, 719
—24.5
235, 200,184
292, 589, 091
—19.6
1, 243, 984, 692
1, 304, 800, 902
— 4.7
1884.
Totals
New York
....
^Per
cent.
—31.3
— 2. 9
— 2.4
—13.8
-f- 2.2
— 5*. 9
— 2.1
-h 3.0
— 6.4
— 8.3
—18.4
-f- 8. 9
-1-33.3
—11.5
-j- 5. 5
-f 2. 6
-f 3. 3
— 8.4
-h 3.2
—12.7
-1-9.0
-{-1.5
-1-3.0
— 6.2
— 3.4
—11.2
169
COMPTROLLER OF THE CURRENCY.
Thefollowing table exhibits the transactions of clearing-houses located
in 25 cities for the year ending October 1, 1884, from official returns
received by the manager of the New York Olearing-House:
Exchanges.
Cities.
New York
Boston
Philadelpbia
Chicago
SaintLouis
Baltimore ..
Sai] Francisco
Pittsburg
New Orleans — Cincinnati
Providence
Louisville
Milwaukee
Kansas City
Detroit
• Hartford
Indianapolis
Columbus .. Memphis
Peoria
Worcester
Springfield
Portland, 9 montbs
Syracuse
Lowell
;34, 092, 037, 338
3, 314, 358, 919
2, 664, 317, 901
2, 349, 152, 846
817, 462,162
6.53, 205, 248
581, 116,161
492. 317, 784
502, 013,067
480, 400, 000
227, 300, 000
221, 921, 422
181, 052, 907
166, 237, 922
138, 393, 736
85, 683, 599
77, 530, 440
69, 417, 717
58, 465, 436
47, 182,994
41, 738, 383
38, 800, 656
33, 324, 643
28, 139, 070
25, 837, 924
:.
:
Twe:^ty-five cities
47, 387, 408, 275
' ,
Balances.
$1, 524, 930, 994
432, 036, 602
232, 817, 299
247,193, 028
^ 132, 557, 690
85, 917, 655
100, 552,123
101, 364, 739
48, 069. 710
(*)
50,634,616
33, 671, 926
24, 110, 279
23, 373, 736
24. 295, 538
12,851,235
10, 673, 868
11, 543, 374
13, 422, 733
11,112, 033
8, 476, 836
6, 989, 705
9, 891, 355
3,146, 487, 074'
* N o record kept.
From the above table it will be seen that the exchanges in NewYork
City amounted to 71.9 per cent, of the whole sura, aud the balances in
that city were nearly one-half of the total balances.
CLEARINa-HOUSE
CERTIFICATESo
Section 5192 Kevised Statutes provides that clearing-house certificates, representing specie or lawful raoney specially deposited, for the
purposes of any clearing-house associatiou, shall also be deemed to be
lawful money in the possession of any association belonging to such
clearing house holding and owning such certificate; and section 5193
provides that the Secretary ofthe Treasury may receive United States
notes on deposit, without interest, from any national-banking association, in sums not less than $10,000, and issue certificates therefor in denominations of not less than $5,000, which certificates may be counted
as part of the lawfal money reserve, and raay be accepted iu the settlement of clearing-house balances at the places where the deposits therefor were made.
The legal-tender note certificates were first issued in the fiscal year
1873. On June 30, 1875, there were outstanding $59,045,000 of these
certificates, of which the national banks held $47,310,000. On Juue
30,1876, the amount outstanding was $33,140,000, of which the bauks
held $27,955,000. On June 30, 1879, the amount had been reduced to
$29,330,000, and the bauks held on June 14 of the same year $25,180,000.
Th0 amount outstanding on September 30, 1884, was $15,945,000, aud
the national banks held on that day $14,200,000.
The issue of the gold certificates was authorized by the fifth section
of the act of March 3, 1863, and they were used for clearing-house purposes soon after the passage of the national-bank act.
170
REPORT ON THE FINANCES
'
' The first issue was made on November 13, 1865. On June 30, 1875,
there were outstanding $21,796,300, of whuih the national banks in New
York Oity held $12,642,180. The issue of these certificates was discontinued ou Deceinber 1, 1878, and the amount outstanding had decreased
on Juue 30, 1879, to $15,413,700, and on October 1, 1880, to $7,480,100.
The amount outstauding on October 3, 1882, was $4,907,440, of which
the nationalbanks held $4,594,300. The issne of gold certificates having been discontinued hy the Government, and the amount of goldcoin
having rapidly increased, the banks in New York foLind it necessaryto
establish a depository of gold coin for the convenience of the clearing
house.
This depository at the present time is the Bank of America, by
^which bank certifibates of depcsit were first issued on October 14,1879.
The amount of such certificates outstauding on January 1, 1880, was
$25,610,000, and on October 1, 1883, was' $22,955,000. The largest
araouut of coiu on deposit was ou Jauuary 21, 1882, viz, $45,330,000,
the capacity of the vault having been increased since 1880. Of this
araount the national banks of New York Oitv held bu October 2, 1883,
$20,345,000; on September 30, 1884, $15,123,000. These banks onthe
same date held of gold Treasury certificates issued under the acts of
March 3, 1863, and July 12, 1882, $40,815,140.
The act of February 28, 1878, authorized auy holder of silver dollars
of the weight of 412J grains troy of standard silver to deposit the same
with the Treasurer or any assistant treasurer of the United States in
sums not less thau $10, and receive therefor certificates of not less
than $10 each, corresponding with the. denomiuations of the Uuited
States notes. It required that the coin deposited, or representing the
certificates, should be retained in the Treasury for the payment of the
same on deraand, and that'said certificates sliould bereceivablefor customs, taxes, and all public dues, and also authorized their reissue.
This act did not authorize their use as clearing-house certificates, nor
make them available as reserve for the national banks.
Section 12, act of July i2, 1882, provides that the Secretary of the
Treasury is authorized and directed to receive deposits of gold coin
with theTreasurer or Assistant Treasurers of the U nited States, in sums
not less thau tweuty dollars, and to issue certificates therefor in denominations of not less than twenty dollars each, corresponding with the
denominations of Uuited States notes. The coin deposited I'or or representing the certificates of deposit shall be retained in the Treasury for the payraent of the same on demaud. Said certificate shall be
receivable for customs, taxes, aud all public dues, aud wheu so received
may be reissued; and such certificates, as also silver certificates, when
held by any national-banking association, shall be counted as part of
its lawful reserve, and no national-banking associatiou shall be a member of any clearing-house in which such certificates shall not be receivable in the settlement of clearing-house balanceSo
The amount of silver certificates outstandiug ou November 1, 1884,
less the amount held by the Treasury, was $100,741,561; The amouut
of gold certiticates November 1, 1884, less the ainount held by the
Treasury, was $87,865,570.
On Septeraber 30,1884, the national banks held $3,331,510 of silver
certificates, and $47,217,710 of gold certificates issued under the acts of
March 3, 1863, and July 12, 1882.
/ »
171
COMPTROLLER OF THE CURRENCY.
LOANS AND RATES OF I N T E R E S T .
The following table gives the classification of the loans of the banks
in the city of New York, in Boston, Philadelphia, and Baltimore, in the
other reserve cities, and in the remaining banks of the country at corresponding dates in each of the last three years:
OCTOBER 3, 1882.
•
New Tork
City.
Boston, Philadelphia, and
Baltimore.
50 b a n k s .
102 b a n k s ,
o t h p r ro
. . V ^ ^ J i f^,
se^^® c i t i e s .
Country
banks.
91 b a n k s .
2,026 b a n k s .
Aggregate.
Classificatiou.
On U . S. b o n d s on d e m a n d
O n o t b e r s t o c k s , bonds, &c., on
demand
...
On s i n g l e - n a m e p a p e r w i t h o u t
other security
All other loans . .
. .
Totals
-
•...-.. .
1
j
2,269 b a n k s .
$1, 618, 687
$265, 357
$1,532,214
$1, 851, 550
$5, 267, 808
89, 532, 760
31,653,098
22,143, 725
39, 554, 649
182, 884, 232
21, 382, 572
126,507,873
26,721.688
143, 297, 359
16,075,330
106, 531,193
83, 576, 480
526 041 981
009 S7Q fi7f>
239, 041, 892
201, 937, 502
146,282,462
651, 024, 660
1,238,286,516
97 b a n k s .
2,253 b a n k s .
2,501 b a n k s .
147, 754, 806
OCTOBER 2, 1883.
Classification.
O n TJ. S. b o n d s o n d e r a a n d
On o t h e r s t o c k s , b o n d s , &c.. on
demand .
On single n a m e paper w i t h o u t
other security
,..
A l l other loans
Totals
48 b a n k s
103 b a n k s .
$2, 093, 526
$344, 337
$623, 679
U , 972, 232
$5, 033, 774
94,321,605
29, 638, 276
23, 099, 682
41, 518; 741
188, 578, 304
19,147, 049
129, 546,152
24, 684,110
146,149, 205
17, 259, 584
110, 381, 881
87, 910, 589
574, 700,143
149, 001, 332
960, 837, 381
245 108 332 1 200 815 928 ! 151 3fi4 826
706,161, 705
1 303 450-791
' .'
SEPTEMBER 30.
i"
Classification.
O n U . S. b o n d s on d e m a n d
On o t h e r s t o c k s , b o n d s , &c., on
demand
On s i n g l e - n a m e p a p e r w i t h o u t
otber security . . .
...
All other loans
.Totals
44 b a n k s . .
1884.
104 b a n k s .
99 b a n k s .
2,417 b a n k s .
2,C64 b a n k s .
$268,396
$970,691
69,805,215 !
25,763,0605
18,573,905
34, 050, 829
148,193,554
12, 559, 441
120, 054, 836 |
22, 458, 370
150, 372, 086
16, 239, 550
107, 543,129
83,816,871
574, 016, 071
135, 074, 232
951, 986,122
205,353,277
199 2.38.078
142, 624, 980
692, 854, 462
1, 240, 070, 797
$2, 933, 785
$644, 017
,
$4, 816; 889
In the table below is given a full classificatiou of the loans in New
York Oity alone for the last five years:
'
O c t o b e r 1,
1880,
O c t o b e r 1,
1881.
O c t o b e r 3,
1882.
O c t o b e r 2,
1883.'
September
30,1884.
47 b a n k s . .
48 b a n k s .
50 b a n k s .
48 b a n k s .
44 b a n k s .
Loans and discounts.
On i n d o r s e d p a p e r
$107, 058, 860 $112,049,004
26, 935, 878
27,755,152
On single-name p a p e r
.,
2, 539, 928
3, 915, 0 7 7 ,
On U. S. b o n d s on d e m a n d
97, 249,162
92,630,982
On otlier s t o c k s , &c., o n d e m a n d .
236,100
1, 336, 513
On real-estate security
7, 747, 587
5, 7.31, 917
All dther loans
Totals'
238,428,501 j
246,757,659
$118, 092, 651
21, 203, 573
. 1,707,687.
89,532,762
• 304, 732
7, 600, 487
239, 041, 892
$121,644,201 $116, 010, 062
19,147,051
12, 559, 443
2, 093, 527
2, 933, 785
94, 321. 605
69, 805, 215
184, 683
lfi3, 397
7, 717, 2K5
3, 881, 375
245,108, 332
205, 353, 277
172
REPORT ON T H E
FINANCES.
The attention of Oongress has previously beeu called to section 5200
of the Revised Statutes, which places restrictions npon loans, and to the
difficulty of enforcing its provisions. In cities where large amounts of
produce are received and stored, it is represented that it is impossible
for the banks to transact this class of business, if restricted to loans for
an amount not exceeding in any instance one-tenth of their capital. I t
is true that the limitation does hot apply to loans upon produce in transit,
where the drafts are drawn on existing values; but if produce is stored,
instead of being shipped, large loans cannot be made except in violation
of law.' In such case the Ooraptroller has no raeans of enforcing the law,
except by bringing a suit for forfeiture of charter, and this course raight
result iu great erabarrassraent to business, as well as loss to many innocent stockholders of the banks;. It is evident that the law shoiild be so
araended as to exclude frora the limitation mentioned legitimate loans
upon produce or warehouse receipts, and some other classes of collateral security, as well as loans upon United States bonds.
\
RAT:ES
OF
INTEREST
IN N E W Y O R K
C I T Y , A N D IN
THE
BANK OF
ENG-'
LAND AND THE BANK OF FRANCE.
The average rate of interest iu New York Oity for each of the fiscal
years from 1874 to 1884, as ascertained from data derived from the
Journal of Oommerce and the Oomraercial and Financial Ohronicle,
was as follows :
1874, call loans,
1875, call loans,
187(3, caU loans,
1877, call loans,
1878, call loans,
1879, callloans,
1880, call loans,
1881, call loans,
1882, call loans,
1883, call loans,
1884, call loans,
3.8
3.0
3.3
3.0
4.4
4.4
4.9
3.8
4.4
5.7
2.4
per
per
per
per
per
per
per
per
per
per
^ev
cent.;
cent. :
cent.;
cent.;
cent. ;
cent. ;
cent. ;
cent.;
cent.;
cent. ;
cenfc. ;
comniercial
commercial
commercial
commercial
commercial
commercial
commercial
commercial
commercial
commercial
commercial
paper,
paper,
paper,
paper,
paper,
paper,
paper,
paper,
paper,
paper,
i^aper,
(5.4 per
5.8 per
5.3 per
5.2 per
5.1 per
4.4 per
5.3 per
5.0 per
5.4 per
5.7 per
5.6 per
cent.
c^ent.
ceut.
cent.
cent.
cent.
cent.
cent.
cent.
cent.
cent.
The average rate of discount of the Bauk of England for the sarae
years was as follows:
Daring the
Dnringthe
Dnring the
Dnring the
Dnring the
Dnring the
During the
Durihg tbe
During the
During-the
During the
calenclar year ending December 31, 1874, 3.69 per
calendar year ending December 31, 1875, 3.23 per
calendar year ending December 31, 1876, 2,61 per
calendar year ending December 31, 1877, 2.91 per
calendar year ending December 31, 1878, 3.78 per
calendar year ending December 31, 1879, 2.50 per
calendar year ending December 31, 1880, 2.76 per
calendar year ending December 31, 1881, 3.49 per
calendar year ending December 31, 1882, 4.10 per
calendar year ending December 31, 1883, 3.57 per
fiscal year ending June 30, 1884, 2.8 per cent.t
cent.
cent.
cent.
cent.
cent.
cent.
cent.
cent.*
cent.*
cent.t
In the calendar year ending December 31, 1883, the rate of discount
ofthe Bank of England was increased three times., and three times reduced. During the fiscal year ending Juue 30, 1884, the rate was increased once and decreased five times. The jjresent rate is 5 per cent.
The average rate of interest in New York Oity for the four months
previous to November 8, 1884, was ou call loans 1.4 percent., and on
commercial paper 5.6 per cent.; the rate of interest on that date was
on call loans 1 to 2 per cent., and on comraercial paper 5 to 6 per cent.
* From the Financial Chronicle only.
t From the London Bankers' Magazine.
,
COMPTROLLER OF THE CURRENCV.
' 173
The rate of discount in the Bank of France, which was lowered frora 4
to 3i per cent, on March 23, 1882, was lowered to 3 per cent, on February 23, 1883. The average-rate of discount during the year 1883 was
3.08 per cent.
The nuraber of trade bills admitted to discount in the Bank of France
during the year 1883 was 5,047,179, representing a sum of $956,569,720.
Of this number, of bills there were 13,069 bills of $2.08 and under;
548,720 bills from $2.29 to $10; 787,481 bills from $10.21 to $20;
3^697,909 bills above $20. That is to say, nearly a fourth part in bills
under $20.21., The number of trade bills under $20 steadily increases.
In 1880 there were 1,014,412 of these small discounted bills; in 1881,
1,160,945; in 1882,1,224,326, andin 1883they have increased tol,349,250.
The governor of the Bank of France in his report of its transactions
for the year 1882 said, ''These figures will show how great are the services rendered by the bank to the retail trade of Paris.''
INTEREST ON DEPOSITS.
The practice of paying interest on deposits by the national banks
has been the subject of discussion for some time past. It is the custom
of the country banks to pay interest ou current accounts, and also to
issue certiticates of deposit bearing"interest, which latter usually state
upou their face that no interest will be paid upon the same unless the
deposit reraains with the bank for three, six, nine, or twelve raonths, as
the case raay be.
Banks located in the cities, where a portioii of the lawful raoney reserve of couutry banks raay legally be kept, have been for raany years
in the habit of paying interest upon the daily balances of the accounts
of their country depositors. Owing to the fact that the bauks iu the
reserve cities other than New York keep large current accounts with
their correspondents in that city, who iu turn pay interest ou the average daily balances of their correspondents, the result is that in tiraes of
easy raoney large suras accuraulate in the city of New York subject to
interest on current account. It is believed that this accuraulation of
money in the New York banks occasioned by this custom has a tendency to encourage speculation in stocks, as these banks are compelled
to find some use for the money deposited with them on which they are
in turn compelled to pay interest, anc} as this money is liable to be
called for at any time, it is necessary to raake loans payable on deinand,
and dealers in stocks called on the stock exchange, which theoretically
can be readily sold at any tirae, are in consequence enabled to obtain,
raoney for speculation by pledging these securities as collateral and
agreeing to repay the sura advanced on demand. The panic of 1873
and the financial troubles of May, 1884, have shown that these so-called
demaud loans are of such a character that the banks are not always
able to realize upon them in case of emergency. The members of the
New York Olearing-House Association, after the panic of 1873, discussed the abolition of the payment of interest upou current accounts.
Again, upon the 4th of June, 1884, the association endeavored to have
its merabers agree to discontinue the payment of interest on daily
balances, but owing to the persistent dissent of a few merabers the
association was unable to raake the arrangeraent.
,
While the uuited actiou of the Olearing-House Association in favor
of the abolition of the payraent of iuterest on deposits would doubtless
have great effect, yet so long as it is the alraost universal custora of
banks. State and national, and of private bankers throughout the coun-
174
REPORT ON THE FINANCES.
J try, to pay such iuterest, it is probable that if the associated banks
should discontinue the practice, they would do so to their own great
detriment and loss of business. Many of the accounts of country banks
and out-of-town correspondents would he transferred to the trust companies, State banks, and private bankers who are not merabers of the
association, and who would not be bound by its regulations, and for this
and other reasons it seems very difficult to bring about an absolute
cessation of the practice. Until all the bankers in the principal cities
of the country agree to discontinue the payment of interest, it is probable that it will continue to be paid upon current accounts.
It has been held by the courts that the conferring of special powers
upon national banking associations prohibited them from the exercise
of certain other jiowers not specifically conferred, and the decisions of
the Uuited States courts seem to indicate that it is unlawful for a national
bank to borrow raoney to lend again or to receive deposits payable at
fixed future dates with interest thereon.
Notwithstanding the fact that it has been held that national banks
could not receive deposits payable otherwise than on deraand, it is
possible that, in view of the fact that the custom of purchasing deposits
by the ^payment of interest is so universal, the courts raight* hold
that national banks would* have the sarae rights as otlier bankers to
receive deposits subject to repayraent upon a notice of frora five to thirty
days, and if this should be the case it is submitted that they should pay
interest only upou deposits of this character, for tbere can be no doubt
that it is extremely injudicious to receive current accounts payable on
demand subject to interest. It would appear that if this course was
adopted two classes of accounts would have to be raaintained with most
of the countiy correspondents of national banks in reserve cities, as it
would be impracticable ibr a natioual bank in the interior to have any
portion of its reserve deposited in snch a manner that it could not be
drawn upon demand. In view of the facts as stated, it is doubtful if
any legislation upon this matter should be had which would discriminate
against the national batiks.
It is a question if in'the business of banking it is not a correct principle to use every legitimate means to bring together an aggregation of
funds for the purpose of carrying on larg'e commercial transactions
incident to the business of handling produce and carrying on the jobbing and other trades, which -would otherwise be impossible. It is
believed by many that the financial supremacy of London has been
partially brought about.by the custom of the baiUkers of that city of.
purchasing deposits and stimulating the accuraulation of funds by the
payment of interest. While the Londou joint-stock banks do not pay
interest on their customers' accounts as a rule, they do pay interest on
deposits on demand at a low rate, and at a higher rate where the raoney
is left on seven days' and other longer notice, and enormous sums are
constantly cn deposit in London subject to interest in this raanner.*
In sorae instances the rabney raust be left for a month. These deposits
are received frora the general public, and also very largely frora couutry
correspondeuts. It is the custom, however, for the Loudon banks to
charge a comraission, geuerally a fixed sura, but soraetimes varying
with the transactions, upou the business, done with their correspondents in the country. The private bankers of London also p*ay interest
in the same raanner, aud in raani- instances allow iuterest upon their
*For information relatiug to customs of London bankers in regard to paying interest on deposits, the Comptroller is indebted to Mr. W. .Talbot Agar, secretary of the
Institute of Bankers, London, England.
175
COMPTEOLLER OF THE CURRENCY;
customers' accounts, payable on demand. The rate of interest allowed
on deposits in the city of London is usually but from one to one aud a
half per cent, per annum below the Bank of England rate for the time
being on discounts. ^ The country banks throughout the United Kingdom are in the habit of allowing interest on cleposits.and current ac<k)urits, to o.ffset which, to a certain exteut, they usually charge a commission on the transactions of their customers.
.
The following table exhibits the rate of interest chargeld by the banks
and bankers of London for discounts, and also the rate of interest
allowed on deposits during 1882, 1883, and first half of 1884:
Second h a l f F i r s t h a l f Second half F i r s t h a l f
of 1883,
of 1884,
of 1882,
of 1883,
per cent.
per cent.
per cent.
per cent.
per annum. per annum. per aunum. per annum.
£.
A v e r a g e m a r k e t r a t e of d i s c o u n t
A v e r a g e a U o w a n c e on d e p o s i t s . .
3
3
0
Profit m a r g i n s
e. s. d.
3 4 3
2 12 11
s. d.
9 3
0 6
8
£.
d.
2 17 1
2 8 10
£.
9
s. d.
2 5 5
1 16 5
0
9
0
N O T E . — L o n d o n B a n k e r s ' M a g a z i n e , J u l y , 1884.
RESERVE.
The following table exhibits the amount of net deposits, and the reserve required thereon by the act of June 20, 1874, together with the
araount and classification of reserve held by the national banks in New
York Oity, in the other reserve cities, aud b}^ the reraaining banks, at
the dates of their reports iu October of each year frora 1875 to 1883,
and on Septeraber 30, 1884:
N E W YOKK
/ Num-
b e r of
jbanks.
Keserve held.
N e t . de- R e s e r v e
posits. required.
Amount,
Millions.
O c t . 1, 1875
Oct. 2, 1 8 7 6 . . . .
Oct. 1, 1 8 7 7 . . . :
O c t . 1, 1 8 7 8 . . : .
Oct. 2, 1879..^..
Oct: 1, 1880
O c t . 1, 1881
Oct. 3, 1 8 8 2 . . . .
O c t . 2, 1 8 8 3 . - . .
S e p t . 30, 1884..
48
47
47
47
47
47
48
50
48
44
202.3
197. 9
174.9
189.8
210.2
268.1
268. 8 0
254.0
266.9
255.0
Millions. ' Millions.
60. 5
50.'6
49. 5
43.7
47.4
52.6
67.0
67.2
63.5
66.7
63. 7 1
OTHER
Oct. 1,1875 . . .
Oct. 2 , 1 8 7 6 . . . .
Oct. 1 , 1 8 7 7 . . . .
Oct. 1 , 1 8 7 8 - . . .
Oct. 2 , 1 8 7 9 . . . .
Oct. 1 , 1 8 8 0 . . .
Oct. 1 , 1 8 8 1 - . . .
Oct. 3 , 1 8 8 2 . . . .
Oct. 2 , 1 8 8 3 . . . .
S e p t ; 30,1884 .
188
189
188
184
181
184
189
193
200
203
CITY.
223. 9
217.0
204.1
199..9
288.8
289.4
335.4
318.8
323.9
307.9
56.0
54.2
51.0
50.0
57.2
72.4
83.9
79.7
81.0
77.0
60. 7
48.1
50.9
53.1
70.6
62.5
64.4
E a t i o to
deposits.
P e r cent.
•
70 8
90. 8
RESERVE
74.5
76.1
67.3
• 71.1
83.5
105.2
100. 8
89.1
100.6
99.0
29.9
30.7
27.5
26.8
25.3
26.4
23.3
25.4
26.5
35.6
Classification of r e s e r v e .
g
.
O t h e r law- D u e from R e d e m p ^P®^'^- ful m o n e y . a g e n t s . t i o n f a n d .
Millions.
5.0
14.6
13.0
13.3
19.4
58.7
50.6
44.5
50.3
63.1
Millions.
54.4
45.3
34.3
36.5
32.6
11.0
10.9
18.9
19.7
27.0
Millions.
\ ..
.Millions.' '
1.1
0.8
0.8
1.1
1.1
0.9
1.0
1.0
0.9
0.7
CITIES.
33.3
35.1
33.0
35.6
36.5
36.3
30.0
28.0
31.1
32.2
1.5
4.0
516
9.4
11. 3
28.3'
34.6
28.3
26.3
30.3
37.1
37.1
34.3
29.4
33.0
25.0
21.9
24.1
30.1
33.3
32.3
32.0
24.4
29.1
35.7
48.2
40.6.
33.2
40. 8 •
• 32.3
3.6
3.0
3.0
3.2
3.5
3.7
3.7
3.5
3.4
3.1
176
REPORT ON T H E
STATES AND
FINANCES.
TERRITORIES.
ClasBification of r e s e r v e .
Reserve held.
NumN e t de- R e s e r v e
b e r of
posits. required.
D u e from R e d e m p banks.
A m o u n t . R a t i o t o Specie. O t h e r l a w .
ful m o n e y - ' a g e n t s ! t i o n fund.
deposits.
Millions.
O c t . l , 1875
Oct. 2, 1876
Oct. 1,1877
Oct. 1,1878
Oct. 2,1879
Oct. 1,1880
Oct. 1,1881
Oct. 3,1882
Oct. 2,1883
S e p t . 30,1884 . .
1,851
1, 853
1, 845
1,822
1,820
1,859
1,895
2, 026
2, 253
2,417
307. 9
291. 7
290.1
289.1
329. 9
410.5
507.2
545.8
577.9
535.8
MiUions.
46.3
43.8
43.6
43.4
49.5
61.6
76.1
81.9
86.7
80.4
Millions.
Per'cent.
100. 1
99. 9
95.4
106.1
124.3
147.2
158.3
150.4
157. 5
156.3
32.5
34.3
32.9
36.7
37.7
35.8
31.2
27.5
27.2
29.2
Millions.
1.6
2.7
4.2
8.0
11.5
21.2
27.5
30.0
31. 2
35.2
Millions.
,
. Millions.
33.7
31.0
31.6
31.1
30.3
28.3
27.1
30.0
30.8
30.9
. 53.3
55.4
48.9
56.0
71.3
86.4
92.4
80.1
• 84.1
79.7
125.2
113.4
100.2
97.0
95.9
64.3
59.9
72.0
80.6
91.2
85.6
87.4
73.3
85.1
107.0
134.6
133.0
113.3
124.9
112.0
Millions.
.
11.5
10.8
10.7
11.0
11.2
11.3
11.4
11.3
11.3
10.5
SUMMARY.
Oct. 1,1875
Oct. 2, 1876 . . . .
Oct. 1,1877
Oct. 1,1878
Oct. 2,1879
Oct. 1,1880
Oct. 1,1881
Oct. 3,1882
Oct. 2,1883 . . . .
S e p t . 30,1884 . .
2,087
2,089
2, 080
2,053
2, 048
2,090
2,132
2,269
2,501
2,664
734.1
706.6
669.1
678.8
768.9
968! 0 '
1, 111. 6
1,118.6
1,168.7
1, 098. 7
152. 2
147.5
138.3
140.8
159.3
201.0
227. 2
225.1
234.4
221.1
235.1
236.7
210.8
228.1
260.9
323.0
321. 6
303.9
328.9
346.1
32.0
33.5
31.5
33.6
33.9
33.4
28.9
27.2
28 1
31.6
8.1
21.3
22.8
30.7
42.2
108.2
112.7
102.8
107.8
128.6
16.2
14.6
14.5
15.3
15.8
15.9
16.1
15.8
15.6
14.3
Thefollowing table, corapiled frora returns raade to the clearing-house
bythe national banks in New York Oity, exhibits the raoveraent of their
reserve, weekly, during October, for the last nine years.
R a t i o of r e s e r v e to—
Week ending-
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
Oetober
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
October
7,1876
14,1876
21,1876
28, 1876
6,1877
13,1877
20,1877
27,1877
5,1878
12,1878
19,1878
26,1878
4,1879
11,1879
18,1879
25,1879
2,1880
9,1880
16,1880
23,1880
30,1880
1,1881
8, 1881
15,1881
22,1881
29,1881
7,1882
14,1882
21,1882
28,1882
6,1883
13,1883
20,1883
27,1883
4,1884
11,1884
18,1884
25,1884
Specie.
682, 600
233, 600
577, 500
011,600
665, 600
726, 500
0S7, 400
209, 000
995, 800
184, 600
531,400
384, 200
979. 600
901, 800
686, 500
036, 000
823, 700
521, 300
760, 600
888, 200
471,600
954, 600
287, 900
008, 300
016, 200
961, 200
016, 000
281, 000
518, 200
374, 200
586, 700
894, 000
262, 900
372, 800
470, 600
922, 500
579, 400
638, 000
Legal tenders.
$45, 535, 600
43, 004, 600
41, 421, 700
41, 645, 600
36,168, 300
35, 178, 900
35,101,700
34, 367, 800
38, 304, 900
37,685,100
30, 576, 000
35, 690, 500
34, 368, 000
32, 820, 300
29, 305, 200
26, 713, 900
11,129,100
10, 785, 000
10, 939, 200
10, 988, 200
10, 925, 000
.12,1.50, 400
12,153, 800
12, 452, 700
12, 496, 500
12, 947, 900
18,384,500
18, 002, 700
17, 023, 900
17, 204, 700
20,122, 500
21,145, 800
20, 719, 700
20, 617, 600
25,817,300
27, 654,100
27, 875, 500
27, 354, 200
Total.
Circulation and Deposits.
deposits.
$63, 218, 200
59, 238, 200
56, 999, 200
55, 657, 200
50, 833, 900
49,905,400
49, 189,100
49, 576, 800
53, 300, 700
4:9, 869, 700
50,107, 400
53, 074, 700
• 53, 347, 600
53, 722,100
53, 991, 700
52, 349, 900
70, 952, 800
73, 306, 300
73, 699, 800
71,876,400
72; 396, 600
67,105, 000
65, 441, 700
63, 461, 000
66, 512, 700
68, 909,100
65, 400, .500
66, 283, 700
66, .542,100
65, 578. 900
71, 709, 200
72, 039, 800
67, 982, 600
66, 990, 400
93, 287, 900
96, 576, 600
95, 454, 900
94, 992, 200
P e r cent. P e r cent.
30.5
32.4
28.8
31.1
27.8
30.0
28.0
30.3
27.0
29.5
26.7
29.2
26.5
29.0
26.8
29.4
25.7
28.4
24.4
• 27.0
24.7
27.3
25. 8
28:5
23.3
25.8
23.4
25.9
23.5
26.1
23.0
25.5
25.4
26.4
25.4
27.2
25.5
27.1
24.9
26.6
2.5.0
26.7
. 23.1
24.8
2H. 1
24.9 .
23.2
25.0
24.6
26.6
25.6
27.4
24.0
26.3
24.7
26.6
25.0
26.8
24.8
26.5
25.5
27.0
25.4
26.8
24.5
.25.9
24.5
25.9
34.5
36.3
35.2
36.9
34.8
36.5
34.6
36.3
177
COMPTROLLER OF THE CURRENCY.
^
STATE BANKS, TRUST COMPANIES, AND SAVINGS BANKS
Theact of Oongress of February 19, 1873, section 333 of the United
States Eevised Statutes, requires the Ooraptroller to obtain frora authentic sources, and report to Oongress, statements exhibiting under
appropriate heads the resources and liabilities of such banks and savings banks as are organized under the laws of the several States and
Territories. In comi3liance with this act he has presented annually in
the appendices to his reports the resources and liabilities of these corporations, so far as it has been xiossible tp obtain them. Through the
courtesy of State officers, returns of State banks, savings banks, and
trust and loan companies have during the past year been received from
twenty-two States. Many of the States and Territories, including Virginia, West Yirginia, North Oarolina, Alabama, Arkansas, Tennessee,
Illinois, Kansas, Oregon, and Dakota, do not require periodical returns
ofthe condition of the different classes of banks organized under their
laws.
From these returns the following abstract has been corapiled showing the resources and liabilities of State banks and trust companies for
the last four vears, the number reporting in 1881 being 683; in 1882,
704; in 1883, 788; and in 1884, 852:
683 banks.
1882.
1883.
1884.
704 banks.
788 banks.
852 banks.
KESOURCES.
Loans and discounts
Overdrafts. .
ITnited States bonds
Other stocks, bonds, &c
Due from banks
Eeal estate
Other assets
Expenses
Casli iteras
Specie
Legal tenders, bank notes, Sc&
\ Totals
$352, 725, 986 $404,574, 420 $462, 380, 585 $489, 067, 519
1, 493, 636
1, 407, 695
1,373,116
1, 630, 474
22, 725, 596
27, 680, 025
25, 673, 984
25, 708, 789
52, 405, 724
42, 330, 957
45, 658, 783
59, 331, 877
68, 270, 664
54, 662, 829
57, 973,718
65, 354,146
20,160,f>-l7
21, 396, 772 19,915, 682
21, 211,182
14,190, U44
11, 941, 741
13, 685, 205
10, 513, 813
1,131, 586
1,136, 427
1,193, 345'
1, 235, 079
35, 206, 862
16, 900, 762 18. 546, 073
28,308,216
18, 255, 300
17, 925, 628 17, 902, 760
SS. 988, 757
28, 259, 069
27, 322, 912
27, 391, 317
32, 659, 605
575, 500,139
633, 819, 998 724, 479, 613
760,949,457
LIABILITIES.
Capital stock
Circulation
Surplus fund
Undivided profits.
Dividends unpaid
Deppsits
Due to banks
Other liabilities
Totals
112, 111, 325 113, 361, 931 125, 233, 036
286, 391
187, 978
274, 941
31, 504, 352
34. 575, 461
27, 857, 976
14, 758, 438
18, 076, 610
12, 237, 320
577, 419
465, Oil
576, 413
373, 032, 632 426, 677, 092 500, 374, 217
18, 409, 351
19,105, 664
20,918,936
28, 245, 024 24, 648, 364
30,303,868
575, 500,139
633, 819, 998 724,479, 613
133, 958, 951
177, 554
41, 675, 486
22,337,961
499, 017
514, 111, 591
27, 886, 996
20,301,901
760, 949, 457
The foregoing table was prepared from all the New England States,
except Maine; from four Middle States, not including Belaware; and
from all the Western States, excepting Illinois, Kansas, and Nebraska.
The only Southern States from /^hich reports have been received were
South Oarolina, Georgia, Louisiana, Texas, Kentucky, and Missouri.
The only Pacific States were Oalifornia and Oolorado. There are no State
banks in Maine, but one in New Hampshire, seven in Yermont, and
none in Massachusetts. There are, however, six trust and loan companies in the latter State, one in Rhode Island, and six in Oonnecticut.
. ; 5022 F
^12
178
REPORT ON T H E
FINANCES.
SAVINGS BANKS.
The following table exhibits the aggregate resources and liabilities
of 629 savings banks in 1881 and 1882 ; 630 in 1883, and 636 in 1884:
1881.
1882.
1883.
629 banks.
629 banks.
630 banks.
636 banks.
RESOURCES.
Loans on real estate
$307, 096,158
Loans on personal and collateral security..
95, 817, 641
United States bonds
210, 845, 514
St^te, municipal, and other bonds and stocks 159, 819, 942
Railroad bonds and stocks
27, 069, 048
Bank stooli
33, 249, 203
Real estate
•41, 987, 674
Other assets
37, 408,163
Expenses
135, 572
Due from banks
40,603,641'
Cash
13, 758,106
Totals
$307, 089, 227 $328,197, 858
128, 483, 6!)8
155, 874, 522
237, 786, 442
219, 017, 313
206, 291, 274
190,629,915
32, 994, 578
41, 695, 701
35, 365, 717
36, 587, 817
39, 882, 429
37, 224, 601
11, 047, 346 - 53, 235, 771
132, 204
144, 223
38, 977,135
43,184, 629
14, 932, 015
12, 998, 594
$358, 686, 040
141, 457, 111
196, 226, 202
222,218,006
50, 994, 579
.37,929,754
34, 467, 276
69,166, 584
156, 944
52, 358, 971
14, 079, 452
967, 790, 662 1, 052, 982, 065 1,118, 790, 944 1,177, 740, 919
LIABILITIES.
Deposits
Surplus fund
Undivided profits
Other liabilities
Totals
891, 961,142
60, 289, 905
10, 325, 800
5, 213, 815
966, 797, 031 1, 024, 856, 787 1, 073, 294, 955
69, 454, 512
72,784,155
82, 395, 717
15, 738, 223
11,136, 219
16, 904, 753
5, 411, 779
5, 594, 253
5,145,494
967, 790, 662 1, 052, 982, 065 1,118, 790, 944 1,177, 740, 919
The foregoing table includes the returns from six New England States,
frora four Middle States, not including Delaware; from the States of
Ohio, Indiana, Oalifornia, and the District of Oolural3ia. The aggregate
of loans in the New England States is $288,905,262 and of deposits
$475,358,305. In the Middle States the aggregate of loans is $163,328,406
and of deposits $522,771,526.
Sorae of the largest savings banks in the city of Philadelphia, organized under old charters, are not required to raake reports to any State
officer. Returns, directly received frora four of these banks having deposits araounting to $34,031,154, are included in the returns frora the
State of Pennsylvania.
The savings «> banks'deposits, given in the foregoing table for 1884,
based upon reports raade to State authorities, are $1,073,294,955, and the
deposits of the State banks and trust companies were $514,111,591.
These returns do not include bank deposits. The deposits of the
national banks on October 1, 1884, exclusive of those due to banks,
were $989,320,509. No just comparison of the deposits of national
banks with those of savings banks and State banks and trust companies
can be made, owing to the fact that the reports of many of the latter
classes of banks were made to the State authorities in 1883 or in January, 1884, and do not show the effects df the business depression resulting from the failures during the year 1884.
The total population of New England, according to the census of
1880, was 4,010,529, and the nuraber of open deposit accounts of the
saviugs banks in the year 1884 is 1,430,857, which is equal to.nearly 35.7
accounts to each one hundred of the entire population. The average
amount of each account is $332.21, and if the total deposits were divided
COMPTROLLER OF THE CURRENCY.
179
among the entire population, the average sum of $118.52 could be given
to each individual.
The deposits of the savings banks in the State of New York were
$431,080,010, while the population is 5,082,871, showing that an equal
distribution of the savings banks' deposits among the entire population
of the State would give $84.81 to each individual.
tables showing the aggregate resources and liabilities of State banks,
trust companies, and savings banks in each State, from which returns
have been received from the State authorities, appear in the appendix.
A table is also there given showing, by States, the number of saviugs
banks' depositors, and the average amount due to each in 1883 and 1884.
t h e Oomptroller has for the last eight years compiled the returns received by the Oomraissioner of Internal Revenue frora the State and
savings banks and private bankers for purposes, of taxation, showing
the average araount of their capital and.deposits for each six raonths, and
the amounts invested in United States bonds. The law requiring such
returus to be made has not beeu repealed, but as the tax on capital and
deposits, ceased on November 30,1882, it is not expected that such returns
will hereafter be transmitted. The Comptroller must therefore depend
exclusively for this information upon the returns to be received from the
officers of the different States, and when such returns are required to be
made they are, as a rule, promptly and courteously forwarded to this
office in reply to his request.
The legislature of Missouri recently passed a law requiring all banks
in the State to make reports in the month of December. With a view
of rendering this systera of reports raore complete and effective than at
present, the Oomptroller prepared iu the year 1876 the form of a bill, which
is herewith presented; and it is respectfully suggested to members of
Oongress and State officers residing in those States where no returns
are required that, if approved by thera, they shall lend the weight of
their influence to procure the enactment of a law, similar in forra^ by the
legislatures of their respective States. It may be mentioned that a bill,
substantially the sarae as that here presented, has been passed by the
legislature of Ohio.
A BILL to provide for obtaining and publishing reports of banks, savings institutions, and trust com
panies organized under State laws.
Be it enacted, That each and every hanking institution, organized, under the laws
of this State, shall make a report to the auditor of state, showing the condition thereof
hefore the comniencement of business on the first Monday in the months of January^
April, July, and October of each year.
SEC. 2. That the auditor of state shall issue his requisition upon all banking institutions, for the reports required to be made by section 1 of this act, a convenient number
of days prior to the first day of January, April, July, and October, in each year, and
each banking institution shall, upon receipt thereof, immediately forward to t h e
auditor a balanced report of its condition^ verified by the oath or affirmation of one
or more of the officers of such institution, and shall also publish such report in full at
its own expense, in a newspaper issued at the place where the institution is located,
or, if there be no newspaper in that place, then in the one nearest thereto; and any
banking institution neglecting to make and transmit to the auditor of state, and
publish, such reports, shall, after the expiration of five days fromthe receipt of the
requisition therefor, be subject to a penalty of thirty dollars for each day^s delay,
which penalty may be collected by suit to be brought by the auditor of state, or by
any creditor ofthe association, before any court of competent jurisdiction in the district
wherein such b.anking institutionis located; and all sums of money collected for penalties under this section shall be paid into the treasury of the State.
SEC. 3. That banks, trust companies, savings banks, and other banking institu-
180
REPORT
ON T H E
FINANCES.
tions, having capital stock, shall report their resources and liabilities in t h e following
form:
Beport of tlie condition of The
^, at —
, in the State of commencement of husiness on thefirst Monday of
187-
-, hefore the
DR.
CR.
Resources.
Cts."
Dollara.
1. Loans on real estate
2. All other loans and discounts .
3 Overdrafts
4. United States bonds on hand..
5 State bonds
6.. Other stocks, bonds, and mortgages
,7. Due from other banks and
bankers
....
8 Real estate
9. Furniture and fixtures
10 Current exnenses . . . .
11 Premium on bonds
13. Gold coin, $
LiabiUties.
DoUars.
Cts.
2. Surplus fund .'.
3. Undivided profits
4. State-bank notes outstanding.
6.
7.
8.
9.
Individu al dejiosits
Due to banks and bankers
Notes and bills rediscounted.
Bills payable
•
; silver coin,
$
14 National-bank
notes
Tl 5 • ITnitfd States notes
Total
Total
STATE OF
.
Gounty of
.
Sworn to and subscribed before me this — day
of
, 187 .
'
I,
,
of The
, do
solemnly swear that the above statement is true,
to the best of my knowledge and belief.
Cashier.
_ L
S E C 4. Savings banks and other b a n k i n g institutions having no capital stock shall
report'their resources and liabilities in t h e following form:
-, ih the State of •
Beport of the condition of The
, atcommencement of husiness on thefirst Monday of187-.
-
DR.
DoUars.
Ilesources.
'
-, hefore the
CR.
Cts.
-^^ —
Liabilities.
1.
2.
3.
4.
2. Loans on United States and
State stocks
.. . . . . . . . .
3 Loans on other stocks and
DoUars.
Cts.
Individual deposits
Due to banks and bankers - . .
Undivided pTofits
Other UabiUties
4 All other loans
5. United States bonds on hand..
7. Other stocks and bonds
8 Real estate
.. .
9; Furniture and fixtures
...
1.
•
11. Due frbm banks and bankers..
12 Snecie
13. National-bank and United
States currency
14. All other assets
Total
Total
STATE OF
,
Gounty of
:
Sworn to and subscribed before me this of^_—-,187-.
-day
-, do
of The solemnly swear that the above statement is true,
to the best of my knowledge and belief.
Cashier.
And such banks shall also furnish, w i t h their reports, the following information:
The number of open accounts, and t h e rate per centum of dividends or interest on
deposits, for the jjast year.
SEC. 5. T h a t t h e auditor of state shall compile tbe reports received by him under
t h i s act, and t h e tables so,compiled shall be printed quarterly for distribution w h e n
prepared, and,shall be transmitted by him to t h e legislature at t h e beginning of each
session thereof.
.
'
'^
COMPTROLLER OF THE CURRENCY.
181
PRIVATE BANKERS.
The first official inforraation relating to the private bankers of tke
country published by this office was contained in a table in the Ooraptroller's report for 1880. The law requiring private bankers to raake
returns for taxation purposes having been repealed, it is now irapossible
to obtain authentic information with reference to them. A table will
be found in the appendix giving information on this subject for the six
mouths ending ISTovember 30, 1882, being the last semi-annual period
for which they were required to raake returns of the amouut of their
deposits, &c., for taxation, and also similar information for preceding
years.
TAXATION.
,
-
The law imposing a tax upon the capital and deposits of national
banks. State banks, and private bankers was repealed by the act of
March 3, 1883. ,
The only United States tax now paid by the national banks is the semiannual duty of one-half of 1 per cent, upon the average amount of
their notes in circulation during the preceding six months. The prohibitory tax of 10 per cent, upon State bank circulation paid out, as
provided by section 3412 of the Eevised Statutes, is also still in force.
Section 5173 of the Eevised Statutes provides thatthe expeuses of the
Bureau of the Oomptroller of the Ourrency, including those ofthe plates
and dies used for the printing of national-bank notes and of the printing
of such notes, shall be paid out of the proceeds of the tax on circulation.
The act of June 20,1874, provides for the redemption of national-bank
notes in the office ofthe Treasurer of the United States, and that the cost
of such redemptious shall be paid by the banks, aud that the cost of the
plates for printing, up to that tirae paid out of the proceeds of the tax
on circuiatiou, shall thereafter be paid frora the proceeds of an assessraent upon the banks. Section 6 of the act of July 12,1882, for extending the ^corporate existence of national banking associations, provides
that the cost of engraving plates for the issue of circulation of new design, required by the section, should also be paid by the banks. It was
the evident intention of the enactors of the original banking law that all
the expenses which were incurred by ithe Go ver lira ent in preparing circulation to be issued to national associations, as well as the expenses of
carrying on the Bureau ofthe Coraptroller of the Ourrency aud enforcing the restrictions ofthe national banking laws, should be defrayed from
the tax on circulation. As has been seeu, this principle was changed by
the act of June 20, 1874, which, without abolishing the tax on circula
tion, imposed on the banks the expense of the redemption of their notes
and of the printing of their plates, and that this course was followed in
the act of July 12, 1882. In lieu of this additional exxiense, however,
the act of June 20,1874, abolished the requirement of keeping in bank a
reserve of legal-tender notes and specie for the redemption of circuiatiou.
As hasbeen suggested elsewhere in the report, the abolishment of the
tax on circulation would be a ready and simple way of avoiding the contraction of national-bank circulation, now constantly going on, on account
of the small profit to the banks in keeping up their issues, and if abolished the expenses of the Bureau of the Oomptroller of the Ourrency
could be paid by a pro rata assessment on the banks, as is now done in
the case of the expeuses ofthe redemption of their notes by the Treasurer^ of the United States, aud in the case of the expense of preparing
plates for printing the notes.
The total expense of the office of the Oomptroller of the Ourrency
frpni its organization to June 30, 1884, was $5,840,923.99, and the ex
182
REPORT ON T H E
FINANCES.
pense for the jesbr euding ou that date $230,224.92. The tax ou circulation for the year endiug on the same date was $3,024,668.24. The total
taxes collected from the national banks to the end of the present fiscal
year are shown in the following table:
Years.
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877 '....'.
1878
1879
1880
1881
1882
188;^
1884.
O n circulation. O n deposits.
•.
t
'.".
?
•
A ffsireirates
$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
O n capital.
Total.
$95,911 87
$18,432 07
1, 087, 530 86
133, 251 15
2, 633,102 77
406, 947 74
2, 650, IhO 00
321, 881 36
2, 564, 148 44
306, 781 67
2, 614, 553 58
312, 918 68 •
2, 614, 767 61
375,962 26
385, 292 13
2, 802, 840 85
3,120, 984 37• 389, 356 27
454, 891 51
3,196, 569 20
469, 048 02
3, 209, 967 72
507, 417 76
3, 514, 265 30
3,505, 129 64 , 632, 296 16
3, 451, 965 38 " 660, 784 90
560, 296 83 •
3, 273, 111 74
401, 920 61
3, 309, 668 90
379, 424 19
4, 058, 710 61
431,233 10
4, 940, 945 12
437, 774 90
5, 521, 927 47
*269, 976 43
*2,113, 790 46
58, 410,193 21 60, 940, 067 16
7,855,887 14
$167, 537 26
1, 954, 029 60
5,146, 835 81
5, 840, 698 23
5, 817, 268 18
5, 884, 888 99
5, 940, 474 00
6,175,154 67
6 703 910 67
7, 004, 646 93
7, 083, 498 85
7, 305,134 04
7, 229, 221 56
7, 013, 707 81
6, 781, 455 65
6, 721, 236 67
7,591,770 43
8, 493, 552 55
9,150,684 35
6,175, 773 62
3, 024, 668 24
127, 206,148 11
* Six montbs to Jnne 1, 1883.
The following table exhibits the taxes upon the circulation, deposits,
aud capital of banks, other than natioual, collected by the Oommissioner
of Internal Eevenue from 1864 to ISTovember 1, 1882, the date upou
which the taxation of capital and deposits ceased:
Tears.
1864..
1865.1866..
1867.1868. 1869..
1870..
1871..
1872..
1873..
1874:.
1875..
1876.:
1877.1878..
1879.1880-.
1881..
1882.1882-^.
O n circulation.
$2, 056,996 30
1, 993,661 84
990, 278 11
214, 298 75
28, 669 88
16, 565 05
15, 419 94
22, 781 92
8, 919 82
24, 778 62
16, 738 26
27
22, 746
947 67
17, 430
16
5. 118 72
1, 903 29
13, 773
28, 295 37
08
4, 285 77
4,
5, 487, 608 82
O n deposits.
723 52
2, 043,841 08
2, 099,635 83
1, 355,395 98
1, 438,512 77
1, 734,417 63
2,177, .576 46
2, 702,196 H4
3, 643,251 71
3, 009,302 79
3, 453,544 26
2, 972,260 27
2, 999,530 75
2, 896,637 93
2, 593,687 29
2, 354,911 74
2, 510,775 43
2, 946,906 64
4,096, 102 45
1, 993,026 02
O n capital.
367 98
374, 074 11
476, 867 73
399, 562 90
445, 071 49
827, 087 21
919, 262 77
976, 057 61
736, 950 05
916, 878 15
1,102, 241 58
989, 219 61
927, 661 24
897, 225 84
830, 068 56
811, 436 48
811, 006 35
1,153, 070 25
489, 033 53
48, 802, 237 39 14, 986,143 44
Totals.
$2, 837,719 82
4, 940,870 90
3, 463,988 05
2, 046.562 46
1, 866;745 55
2,196, 054 17
3, 020,083 61
3, 644,241 53
4, 628,229 14
3, 771,031 46
3, 387,160 67
"4, 097,248 12
4, 006,698 03
3, 829,729 33
3, 492,031 85
3,198, 883 59
3, 350,985 28
3, 762,208 07
5, 253,458 47
2, 482,059 55
69, 275, 989 65
* Six m o n t h s to N o v e m b e r 30, 1882.
The shares of national banks are still subject to State taxation, and
in previous reports tables exhibiting the average rates paid by national
banks in the several States and Territories have been given, for purposes
of comparison and to show the total burden of taxation heretofore borne
by the national banks.
The national banks having been relieved of the United States tax on
deposits, it has been thought unnecessary to continue the collection of
information in reference to State taxation, which can ouly be obtained
from separate returns to be made by each bank to this office. Oomplaints are frora tirae to tirae received indicating that in sorae States
there is an unfavorable discrimination made in the taxation of national
banks, as compared with that of State institutions doing business of a
183
COMPTROLLER OF THE CURRENCY.
similar character. The United States Supreme Oourt has, however, in
several instances shown that when cases of discrimination are properly
brought to its attention it will sustain the Federal law. I t i s , moreover,
doubtful whether Oongress, by any law short of one taking from the
States the right to tax national-bank shares, could prevent occa»sional
instances of discrimination in assessments, but it is believed that in
most of theStates the intention is to place the taxation of national
banks on the same footing with other institutions doing a similar business.
UNITED
;
STATES
L E a A L - T E N D E R NOTES AND
'
CULATION,
NATIONAL-BANK
CIR-
The acts of February 25,1862, July 11,1862, and March 3,1863, each
authorized the issue of 150 millious dollars of legal-tender notes, making an aggregate of 450 millions of dollars.
On February 3, 1864, the amount of such notes outstanding was
$449,479,222, which was the highest amount outstanding at any one
tirhe. The act of June 30, 1864, provided that the total amount of
United States notes issued^ or to be issued, should not exceed 400 millions ofdollars, and such additional sum, not exceeding 50 millions, as
might be temporarily required for the, redemption of temporary loans.
Py the act of June 20, 1874, the maximum amount was fixed at
382 millions. Section 3, act of January 14,1875, authorized an increase
of the circulation of national banks in accordance with existing law,
without respect to the limit previously existing, and required the Secretary of the Treasury to retire Jegal-tender notes to au amount equal
to 80 per cent, of the national-bank notes thereafter issued, until the
araount of such legal-tender notes outstanding should be 300 millions
and no, more. Under the operations of this act $35,318,984 of legaltender notes were retired, leaving the araount in circulation on May 31,
1878, the date of the repeal of the act, $346,681,016, which is the araount
now outstanding.
In the following table are given the araount and kinds of the outstanding currency of the United States and of the national banks on January 1 of each year frora 1866 to 1884, and on i^o vera ber 1, 1884, to
which is prefixed the amount on August 31,1865, when the public debt
reached its maximum:
United States issues.
Date.
Legal-tender
notes.
A u g . 3 1 , 1 8 6 5 . . . $432, 553, 912
J a n . 1, 1 8 6 6 . . . . 425, 839, 319
J a n . l , 1 8 6 7 . . . . 380, 276,160
J a i l . 1, 1 8 6 8 . . . . 356, 000, 000
356, 000, 000
J a n . 1, 1869
J a n . l , 1 8 7 0 . . . . 356, 000, 000
J a n . 1 , 1 8 7 1 . . . . 356, 000, 000
J a i l . 1, 1 8 7 2 . . . . 357, 500, 000
J a n . 1, 1 8 7 3 - - . . 358,557,907
Ja,ii. 1, 1 8 7 4 . . . . 378, 401, 702
Ja,n. 1, 1 8 7 5 . . . . 382, 000, 000
Ja,n. 1, 1 8 7 6 . . . . 371, 827, 220
J a i l . 1, 1 8 7 7 . . . . 366, 055, 084
J a n . 1, 1 8 7 8 . . . . 349, 943, 776
Ja-n. 1, 1879'.... 346, 681, 016
Ja;h. 1, 1 8 8 0 . . . . 346, 681, 016
J a n . l , 1 8 8 1 . . . . 346, 681, 016
J a n . l , 1 8 8 2 . . . . 346, 681, 016
J a n . 1, 1 8 8 3 . . . . 346, 681, 016
J a n . 1, 1 8 8 4 . . . . 346, 681, 016
N o v . l , 1 8 8 4 . . . . 346, 681, 016
Old
demand
notes.
Fractional
currency.
Notes
of n a t i o n a l
b a n k s , includ- A g g r e g a t e .
i n g gold
notes.
$402, 965 $26, 344, 742 $176, 213, 955
236, 636, 098
392, 670
26, 000, 420
298, 588, 419
221, 632
28, 732, 812
299, 846, 206
159,127
31, 597, 583
299, 747, 569
128, 098
34, 215, 715
299, 629, 322
113, 098
39, 762, 664
306, 307, 672
101, 086 • 39, 995, 089
328, 465, 431
92, 801
40. 767, 877
344,
582, 812
84, 387
45, 722, 061
350, 848, 236
79, 637
48, 544, 792
354,128, 250
• 72, 317
46, 390, 598
346. 479, 756
69, 642
44,147, 072
321, 595, 606
65, 462
26, 348, 206
321,672,505
63, 532
17, 764,109
62, 035
16,108,159 - 323,791,674
342, 387, 336
61, 350
15, 674, 304
344, 355, 203
60, 745
15, 523, 464
362, 421, 988
59, 920
15,451,861
361, 882, 791
59, 295
15, 398, 008
349, 949, 352
58, 6»0
15, 365, 362
58,290' 15, 350, 213 *333, 007, 772
$635, 515, 574
688, 867, 907
707, 819, 023
687, 602, 916
690, 091, 382
695, 505, 084
702,403, 847
726, 826,109
748,947,167
777, 874, 367
782, 591,165
762, 523, 690
714, 064, 358
689, 443, 922
686, 642, 884
704, 804, 006
706, 620,428
724, 614, 785
724, 021,110
712, 054, 410
695, 097, 291
Oold
Currenoy
p r i c e of p r i c e of
$100 gold. $100 currency.
$144
144
133
133
135
120
110
109
112
110
112
112
107
102
100
100
100
100
100
100
100
25
50
00
25
00
00
75
50
00
25
50
75
00
87
00
00
00
00
00
00
00
* Includes $534,079 notes of gold banks, and omits $552,041 mutilated currency.
$69
69
75
75
74
83
90
91
89
90
88
88
93
97
100
100
100
100
100
100
100
32
20
18
04
07
33
29
32
28
70
89
69
46
21
00
00
00
00
00
00
00
184
REPORT ON THE FINANCES.
The act of June 20,1874, provided that auy national banking association raight withdraw its circulatiug uotes upon the deposit of lawful
nioney with the Treasurer of the United States in suras of not less than
$9,000. Under this act and on accouut of liquidatiug and insolvent
banks, and under the act of July 12, 1882, which provides for a deposit
of lawful raoney to retire the circulation of natioual banks whose corporate existence has been extended, $213,047,258 of lawful raoney has been
deposited with the Treasurer. This includes $2,583,720 for the redemption of the notes of national gold bauks, aud $4,135,470 for the redemption of national-bank notes under section 6 of the act of July 12, 1882.
Since June 20,1874, $175,150,769 of bauk notes have been redeemed,
destroyed, and retired. This includes $2,129,641 of the notes of national gold banks and $1,000,307 of the notes of national bauks whose
corporate existence has been exteuded under the act of July^ 12, 1882.
In the fbllowiiig table* are shown, by States, the amouut of circulation
issued and'retired duriug the year ending November 1, 1884, aud the
total am'ount issued and retired since June 20, 1874:
Circulation retired.
states and Territories.
Maine .
New Hampsbire
Vermont
I
Massachusetts
Rhode Island
Connecticut
New Tork
New Jersey
Pennsylvania
Delaware
Maryland
District of Columbia
".
Virginia
West Virginia
North Carolina
South Carolina
Georgia
Florida
Alabama
Mississippi
Louisiana
Texas
Arkansas
Kentucky
Tennessee
Missouri
Ohio
.:....
Indiana
'.
Illinois
Michigan
Wisconsin
Iowa
Miunesota
..'.
Kansas
Nebraska
Nevada
Oregon
Colorado
mah
:
Idaho
Montana
Wyoming
Mew Mexico
Dakota
Washington .,
Arizona
.\.
California (currency)
'.
Circulation
' issued.
$85, 664
107,990
, 895, 970
54, 500
997, 570
197, 09.0
054, 390
77, 400
86, 850
29, 250
47, 240
9,900
11,300
24, 300
11, 240
45, 000
22, 500
45, 000
502, 390
222, 790'
191-, 240
79, 930
439, 590
54, 000
363, 820
224, 950
259, 390
252,100
252, 050
396, 760
343, 020
33, 740
47, 240
108, 000
11, 240
61, 860
8,500
22, 500
101, 680
36, boo
11, 250
_544j_500_
', 371, 694
A c t of J u n e
20, 1874.
' $127, 400
73, 500
. 363,400
5,173, 990
497, 970
772, 800
4, 339, 955
795, 750
2, 355, 030
26,100
564, 840
1.5, 400
172, 600
25, 000
240, 200
51,500
114, 550
19a, 700
34, 400
128, 804
6,400
600, 270
163,150
383, 650
1, 432, 060
594, 380
817,160
610, 260
221, 330
477,430
164, 860
87, 480
47, 950
$89,915 00
76, 834 00
124, 266 00
547,192 00
1,800 00
102, 480 00
:, 072, 682 00
185, 309 00
816, 444 00
1, 111 00
.5,190 00
28, 980 00
5, 989 00
26, 235 00
12, 072 00
564
85
950
10, 082
2, 830
77, 771
97, 607
60, 681
1, 025,236
515, 076
309, 062
404, 629
128, 331
167, 570
124, 363
24, 269
14, 206
150
5,000
20, 050
• 27, 450
5,600
57, 500
3,750
77, 095
56, 950
92, 400
22, 016, 064
Surrendered to this oflQce and retired .
From June 20,1874, to October 31,1883 . . .
Surrendered to this oflQce same d a t e . . .
Grand total
Liquidating
banks.
10, 371, 694
159, 702, 355
22, 016, 064
118, 147,154
170,074, 049
140,163, 218
00
00
00
00
00
00
00
00
50
00
00
00
00
00
00
00
00
00
42, 290 00
1, 029 00
16, 655 00
Total.
$217, 315 00
150, 334 00
487, 666 00
5, 721,182 00
499, 770 00
875, 280 00
5, 412,637 00
981, 059 00
3,171, 474 00
26, 100 00
565, 951 00
20, 590 00
201, 580 00
30, 989 OO
266, 435 00
51, 500 00
126, 622 00
213, 264,00
85 00
38, 350 00
138, 886 00
9, 230 00
678, 041 00
260, 757 00
444, 331 00
2, 457,296 50
1,109, 456 00
1,126, 222 00
1, 014,889 00
349, 661 00
645, 000 00
289, 223 00
111, 749 00
62, 216 00
150 00
000 00
340 00
479 00
600 00
74,155 00 '
3, 750 00
77, 095 00
56, 950 00
2, 040 00
2, 040 00
119.000 00
26, 6 0 0 0 0
6,173,"635 50" 28,189, 699 50
480,499 00
6,173, 635 50
28, 670,198 50
26, 684, 274 00 144, 831, 428 00
13, 397, 810 00
32, 857, 909 50 186,899,436 50
''In this tahle gold notes are excluded.
185
COMPTROLLER OF THE CURRENCY.
The amount of circulation issued to national banks for the year end"
ing November 1, 1884, was $10,371,694, including $3,866,230 issued to
banks organized during the year. The amount retired during the year
V a s $28,670,198, and the decrease for the same period was, therefore,
$18,298,504,* and the total outstandin gon Novemberl was $333,025,734. t
During the year ending Noveraber 1, 1884, lawful inoney to the
araount of $33,689,476 was deposited with the Treasurer to retire circulation, of which amount $2,153,506 was deposited by banks in liquidation, $27,445,500 by banks reducing circulation under the act of June
20, 1874, and $4,090,470 by banks retiring circulation under the act of
July 12, 1882.
The amount previously deposited under the acts of June 20, 1874,
and, July 12,1882, was $139,832,692; by banks in liquidation, $51,186,180,
making a total of $224,708,348. Deducting from the total the am.ount of
circulating notes redeeraed and destroyed without reissue ($183,452,264),
there reraained in the hands of the Treasurer on Noveraber 1,^1884,
$41,256,084 of lawful money for the rederaption and retirement of bank
circulation.
The portion of lawful money on deposit by insolvent banks, b^^'banks
in voluntary liquidation, and by banks reducing or retiring their circulation on the first of each of the last five months, was as follows:
J u l y 1.
Insolvent banks
Liquidating banks
R e d u c i n g u n d e r actsof 1874
R e t i r i n g u n d e r a c t J u l y 12,1882
Totals
$816, 283'
11,188, 915
25, 492, 223
2, 294, 823
792, 244
A u g u s t 1.
Septemb e r 1.
O c t o b e r 1.
Novemb e r 1.
$752, 580
$767, 063
10, 825,121 10, 457, 257
25, 588, 483 25,149, 758
2,393,123 I 2,704,053
$733,803
10, 396, 076
26, 028,148
2, 863, 733
39, 559, 307
40, 021, 760 *41, 256, 084
39, 078,131
$734,713
10, 316, 235
27, 069, 973
3,135,163
* D o e s n o t i n c l u d e $534,079 on d e p o s i t t o r e t i r e n o t e s of gold b a n k s .
DENOMINATIONS OF P A P E R 'CIRCULATION OF THE UNITED STATES,
T H E IMPERIAL BANK OF GERMANY, T H E BANK OF FRANCE, AND
THE BANK OF ENG^LANDo
In accordance with the law, no national-bank notes of a less denomination than five dollars have been issued since January 1, 1879, when
the amount outstanding was $7,718,747. Since that date the amount/
of ones and twos issued by the banks has been reduced $6,934,538,
leaving the amount outstanding $784,209, and during the same period
the legal-tender notes of these denominations have been increased
$13,249,202. The total increase of the araount of ones and twos outstanding in national-bank and legal-tender notes is $6,314,664.
* Lawful money has heen deposited during the year to retire $5,872,172 additional
circulation which has not yet been presented for redemption. Therefore the actual
reduction of circulation during the year has heen $24,170,676, as shown on page 14.
t Omits $534,079 gold notes and includes $552,04i mutilated currency.
186
REPORT ON THE FINANCES.
' The following table exhibits by denominations the amount of nationalbank and legal-tender notes outstanding on October 31, 1884, and the
aggregate amounts of both kinds of notes at the same periods in 1882
and 1883;
.
1884.
Denominations.
Ones
Twos
Fires
Tens
;.
.'
Twenties
Fifties
One hundreds
Five hundreds
One thousands
Five thousands . . . .
Ten thousands
Add for unredeemed fragments
of national-bank notes
Deduct for legal-tender notes
destroyed in Chicago fire
Total
^
National- Legal-tender
notes.
bank notes.
1..
$495, 741
288,468
85, 309,155
111, 319, 950
79, 206, 580
22, 221, 850
32, 520, 700
877, 500
213, 000
1883.
Aggi-egate.
$26, 763, 098 $27, 258, 839
26, 778, 738
27, 067, 20J6
78, 054, 050 163, 363, 205
69,171, 936
180, 491, 886
56, 070, 509 135, 277, 089
22, 395,195 • 44,617,045
33, 649, 990
66,170, 690
15,186, 000
16, 063, 500
19,446, 500
19, 659, 500
105, 000
105, .000
60, 000
60, 000
-f20, 749
*332, 473, 693
Aggregate.
-f 20,749
$30, 785, 265
27, 510,196
164, 517, 620
189, 275, 406
142, 382, 469
46, 278,145
65, 991, 590
15, 895, 500
15, 429, 500
255, 000
120,000
.
1882. .
Aggregate.
$28, 068, 944
25 199 955
165, 265, 065
194, 725, 471
151,117, 959
47, 802, 645
65, 836, 690
15, 624, 500
12, 397, 500
2, 395, 000
230,000
-t-19,761
-f 18, 233
- 1 , 000, 000
- 1 , 000, 000
- 1 , 000, 000
—1, 000, 000
346, 681, 016
679,154, 709
697, 460, 452
707, 681, 962
* Exclusive of $552,041 due to banks for mutilated notes destroyed and to be replaced by new notes
and of $534,079 notes of gold banks.
The amount of one and two dollar notes outstanding is slightly less
than one-fourth of 1 per cent, of the whole circulation of the banks; the
fives constitute 25.7 per cent.; the tens 33.5 per cent. 5 the twenties 23.8
per cent., and the fifties and larger notes 16.8 per cent, of the entire
circulation.
Of the entire amount of national-bank and legal-teuder notes outstanding nearly 8 per cent, consists of oneand two dollar notes; nearly
30.6 per cent, of ones, twos, and fives; 58.6 per cent, is in notes of a less
denomination than $20, and about 78.5 i)er cent, is in notes of a lower
denomination than $50. Of the entire issue about 21.6 per cent, is in
denominations of fifties, one hundreds, five hundreds, and one thousands.
There are outstanding twenty-one legal-tender notes of the denomination of $5,000 and six notes of the denomination of $10,000.
Thefollowing tahle * exhihits hy denominations the circulation of the Imperial Bank of Germany on Deceniber 31, 1883, in thalers and marks, ivhich are h&i^e converted into our ourrency.
Thalers.
Marks.
Amount in
Value of
Numberof Denomina- each
Number of
dollara
note in (thaler
notes.
tions,
= 75
notes.
dollars.
cents).
79 500 thalers.
2, 050 100 thalers.
1, 656^ 50 thalers.
8, 374 25 thalers.
8, 750^ . 10 thalers.
20, 910
375 00
75 00
37 50
18 75
7 50
Amount in
Value of
doUars.
Denomina- each
note in (mark
= 25
tions.
dollars.
cents).
29, 625
153,750
62,119
157, 012
65, 629
225,240^ 1,000 marks141, 246 500 marks.
5, 019, 785 100 marks.
468,135
5, 386, 271^
* London Bankers' Magazine, October, 1884, page 1126.
250 00
125 00
25 00
56,310,125
17, 655, 750
125, 494, 625
199,460, 500
187
COMPTROLLER OF THE CURRENCY.
The circulation of the Imperial Bank of Germany on January 1,1883,
was $207,782,594, showing a decrease of $7,853,959 during the following
year; on January 1,1879, the circulation was $165,933,942, showing an
increase duriug the five years preceding January 1,1884, of $33,994,693.
The following table* gives the circulation ofthe Bank of France and
its branches, with the number of notes and the denominations, in francs
and in dollars, on January 31, 1884:
Denominations
(francs).
N u m b e r of n o t e s .
5
1, 311, 255
629, 368
2, 676
12, 230,116
6,141, 815
21,693
169, 378
170, 539
1, 204
5, 000
1,000
500
200
100
50
25
20
5
F o r m s o u t of . d a t e .
V a l u e of e a c h n o t e
in dollars.
^
1, 000
,200
100
40
20
10
5.
4
1
20; 678, 049
A m o u n t in francs.
A m o u n t in dollars
(franc=20 cents).
25, 000
1, 311, 255, 000
314, 684, 000
535, 200
1, 223, Oil, 600
307, 090, 750
542, 325
3, 387, 560
852,695
420, 406
5,000
262, 251, 000
62, 936, 800
107, 040
244, 602, 320
61,418,150
108, 465
677, 512
170, 539
• 84, 081
3,161, 804, 536
• 632,360,907
The amount of circulation of the Bank of France on January 25,
1883, was 2,899,528,130 francs, (Dr, say $579,905,626, showiug an increase
of 262,276,406 francs, or $52,455,281, between that time and January 31,
1884, the date of the foregoing table, and since January 30, 1879, an
increase of 870,833,706 francs, or $174,166,741.
I t will be seen that the Iraperial Bank of Gerraanj'^ has in circulation
no notes of a less denoraination than seven dollars and a half (ten thaler),
and issues none of less than twenty-five dollars (one huudred marks),
and that the Bank of France issues but little over a million of dollars
in value of notes of a less denomination than ten dollars. The Bank
of England issues no notes of less than £5, or twenty-five dollars, and
the Irish and Scotch banks noue of less than £ 1 , or five dollars.
REDEMPTION.
Since the passage of the act of June 20, 1874, section 3 of which requires the banks at all times to keep on deposit in the Treasury 5 per
centum of their circulation as a redemption fund, that fund as a rule has
been maintained, and circulating notes of the banks have been promptly
redeeraed at the Treasury without expense to the Government.
From the passage of the act of June 20,1874, to ISTovember 1,1884, there
was received at the redemption agency of the Treasury $1,448,485,411
of national-bank currency for redemption. During the year the receipts
amounted to $136,577,732, of ;vvhich amount $63,926,000, or nearly 47 per
cent, was received from banks in the city of New York, and $21,800,000,
or about 16 per cent, from banks in the city of Boston. The amount
received from Philadelphia was $6,888,000; from Ohicago, $5,490,000;
from Cincinnati, $1,903,000; from Saint Louis, $1,136,000; from Baltimore, $3,229,000; from Providence, $1,852,000; and from Pittsburgh,
$798,000.
The following table exhibits the amount of national-bank notes received monthly for redemf)tion by the Oomptroller of the Ourrency
cluring the year ending October 31,1884, and the amount received during
* London Bankers'Magazine, August, 1884, page 829.
188
REPORT ON T H E
FINANCES.
the same period at the redemption agency of the Treasury, together
with the total araount received siuce the passage of the act of June 20,
1874:
R e c e i v e d b y 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 .
From
From
Notes
TJnder
of n a t i o n a l
national banks redemption
a c t of J u n e
for r e i s s u e
a g e n c y for
banks in
20,1874. l i q u i d a t i o n .
or s u r r e n d e r
reissue.
Months.
, 1883.
November
December
1884.
January
February
March
April
May
June
Jnly
• Augusts
Septembep
October
,
,
,
Total.-,
R e c e i v e d from J u n e
20,1874, t o O c t o b e r
31,1883
(jrand total
21, 600
56, 800
37, 600
72,100
49, 050
72, 300
44,190
39, 820
110, 484
39, 720
$5, 338,100 $1, 270, 284
5,102, 800 1, 425, 450
' 6,775,600 2, 064, 520
7, 288, 300 2, 336,030
7, 058, 300 2, 094, 800
5, 700,100 1, 559, 950
7, 546, 300 2, 298, 930
5, 780, 500 1, 766, 270
5,464,100 1,931,855
4, 639, 500 1, 897, 055
4, 332, 400 1, 585, 450
5, 562, 400 1, 777, 270
604, 554
70, 588, 400 22, 007, 864
$30, 740
30,150
551, 453, 655 118,334,154
Total.
Keceived a t
redemption
agency.
$428, 283
412,135
$7, 067, 407
556, 880
593, 865
700, 829
516, 478
729, 617
572, 597
547, 051
498, 982
483,125
621, 411
9, 418, 600
10, 274, 995
9, 891, 529
7, 848, 628
10, 623, 897
8,191, 667
7, 987,196
7, 075, 357
6, 511, 459
8, 000, 801
$9,172, 395
10, 623, 458
17, 463, 933
11, 516, 544
8, 679, .518
11, 642, 521
12, 037, 496
11, 387,181
12, 886, 241
11, 213, 870
8, 746, 775
11, 207, 800
6, 661, 254 99, 862, 073
136, 577, 732
6, 970, 535
26, 693, 074 710, 918, 779 1, 311, 907, 67
15, 042, 450 622, 042, 055 140, 342, 018 33, 354, 328 810, 780, 852 1, 448, 485, 411
The araount of notes fit for oirculation returned by the rederaption
agency to the banks of issue duriug the year was $33,080,300, being an
increase over last year of $12,295,200.
The total amount received by the Oomptroller of the Ourrency for destruction from the agency and from the banks direct, was $71,192,954.
Of this araount $6,399,030 were'the issues of banks in the city of IS'ew
York, $9,169,340 of banks in Boston, $3,052,990 of Philadelphia, $3,052,900 of Providence, $1,949,550 of Baltiraore, $1,724,000 of Pittsburgh,
$1,184,500 of Oinciunati, $767,100 of Louisville, $443,200 of Albany,
$478,000 of New Orleans, and of each of the other principal cities less
than $400,000.
The following table exhibits the nuraber and amounts of nationalbank notes of each denomination, which have been issued and redeemed since the organization of the system, and the. number and
araouut outstanding on Koveraber 1, 1884 :
N u m ber.
Amount. •
Denominations. .
Ones
Twos
Fives
Tens
Twenties
'.
Fifties
One h u n d r e d s
Five hundreds...
One thousands .
P o r t i o n s of n o t e s l o s t or
destroyed
Total
Issued.
Redeemed.
Outstanding.
23,167, 677
7, 747, 519
88,101,188
37,182,102
11,442, 091
1, 661, 010
1,199, 750
23, 736
7,369
22,671,936
7, 603, 285
71, 039, 357
26, 050,107
7, 481, 762
1, 216, 573
874, 543
21, 981
7,156
495, 741
144, 234
17, 061, 831
11,131, 995
3, 960, 329
444, 437
325, 207
1,755
213
170, 532, 442 136, 966, 700
Issued.
$23,167, 677
15, 495, 038
440, 505, 940
371,821,020
228, 841, 820
83, 050, 500
119, 975, 000
11, 868, 000
7, 369, 000
Redeemed.
$22, 671, 936
15, 206, 570
355,196,785
260, 501, 070
149, 635, 240
. 60, 828, 650
87, 454, 300
10. 990, 500
7,156, 000
Outstanding.
•
85,
111
79,
22,
32,
$495,741
288,468
309,155
319 950
206, 580
221, 850
520, 700
877 500
213, 000
- 2 0 , 749
-1-20, 749
33, 565, 742 1, 302, 093, 995 969, 620, 302
332,473, 693
COMPTROLLER OF THE CURRENCY.
189
A table showing the nuraber and denoraination of national-bank
notes issued and redeeraed, and the number of each denomination outstauding on ISTovember 1, for the last thirteen years, will be found in
the Appendix.
^
The following table exhibits the amount of national-bank notes received at this office and destroyed yearly since the establishment of
the system:
Prior to November 1, 1865
...\....
Daring the year ending October 31, 1866
During the year endiug October 31, 1867
1
During the year ending October 31, 1868
During the year ending October 31, 1869
,
During the year ending October 31, 1870
During the year ending October 31, 1871
During the year ending October 31, 1872
Dnring the year ending Octoher 31, 1873
During t h e year ending October 31, 1874
During the vear ending October 31, 1875
During the year ending October 31, 1876
D u r i n g t h e y e a r ending .October 31, 1877
1
During the year ending October 31, 1878
During the year ending October 31, 1 8 7 9 . . . ,
During the year ending Octoher 31, 1880
During the year ending October 31, 1881...'
During the year ending October 31, 1882.
D u r i n g t h e y e a r ending October 31, 1883
During t h e y e a r ending October 31, 1884
Additional amount of insolvent and liquidating national hanks
Total..
....'....
$175,490
1,050, :382
3,401,423
4,602,825
8, 603,729
14,,305,689
24,344,047
30,211,720
36, 433,171
49,939,741
137,697,696
,.. 98,672,716
76,918,963
57,381,249
41,101,830
35,539,660
54,941,130
74,917,611
82,913,766
93,178,418
43,289, 045
969,620,301
APPENDIX.*
Tables will be found in the Appendix exhibiting the reserve of the
national banks as shown by their reports from October 1, 1878, to September 30, 1884; the reserve by States and principal cities'for September 30, 1884; and in the States and Territories, in New York Oity, and,
in other reserve cities, separately, at three dates in each year from 1881
to 1884.
Special attention is called to the synopsis of judicial decisions contained in the Appendix, to the numerous and carefully prepared tables
in both report and Appendix, and to the index of subjects and list of
tables to be found on page 255. At the end of the full volume' is an
alphabetical Use of the cities and villages in which the nationalbanks
are situated.
The Oomptroller, in concluding this report, desires to gratefully acknowledge the industry and efficiency of the officers and clerks associated with him in the discharge of official duties, many of whom, in
addition to attending to their regular duties, have been compelled, owing
to the growth of the national banking system, the extension of the corporate existence of national associations, and the financial troubles of
the,year, to perform a large amount of extra work, without regard to
office hours.
HENKY W. OANNON,
.
Hon.
.
Comptroller of the Gurrency.
J. O. OARLISLE,
Speaker House of Bepresentatives,
"" The appendix, which ia omitted for want of space, will he found in the hound
volumes of the Comptroller's report.
REPORT OF THE DIRECTOR OF THE MINT.
19]
\
REPORT
OF
THE DIRECTOR OF THE
MINT!
TREASURY DEPARTMENT,
BUREAU OF THE MINT,
Washingiori, I). C, October U , 1884.
S I R : I have the honor to submit my sixth aunual report, being the
twelfth annual reportof the Director of the Mint since the creation of
this Bureau, showing the operations ofthe mints and assay offices of
the United States, and the business of this Office, during the fiscal
year ended June 30, 1884.
The amount of gold and silver received for coinage or raanufacture
into bars varied but slightly frora that deposited during the previous
year. The coinage of silver was about the same, but a greater proportion than heretofore was coined at the Philadelphia and New Orleans
Mints. The San Fraucisco Mint was principally engaged in the coinage of gold bullion.
The Philadelphia Miut was chiefly occupied with the coinage of silver
and minor coins, and this occasioned a reduced coinage of gold-—only
$2,777,-154—although the raint had oh hand duriug the year over
$25,000,000 of gold bullion.
'
The amouut of gold and silver parted aud refined was considerably
greater at the New York Assay Office aud Philadelphia Miut, but, on
account, probably, of the reduced production, was less at the San Francisco Mint thau in the previous }• ear.
DEPOSITS AND PURCHASES.
The deposits of gold amounted to $46,326,678.66, of which $29,079,596.33 consisted of gold bullion of domestic production,'aud $6,023,734.45
of foreign bullion; $9,095,461.45 of foreign, and $263,117.17 of [Jnited
States coin, and $1,864,769.26 of jewelry, old plate, &c.
The vsilver purchased for coinage and contained in bullion deposits
amounted at its coiniug value to $36,520,290.36, of which $31,463,113.88
consisted of bullion of domestic production ; $2,524,742.53 of foreign
bulliou; $1,984,365.62 of foreign and $152,031.20 of Uuited States coin,
and $396,037.13 of plate, jewelry, &c.
In addition to these several amounts received, fine and unparted bars
prepared at these institutions, were redeposited as follows:
Gold;
Fine hars
Unparted hars
Silver:
Fine h a r s . . . Unparted bars
5022 F
$1,382,778 81
2,647,310 96
'
13
1,029,887 29
48,207 84
193
194
REPORT ON T H E FINANCES.
The total value of the gold and silver received in deposits and purchases was $82,846,969.02, and, including redeposits, $87,955,153.92.
Nearly all of the gold and two-thirds of the silver of domestic production came to the raints and assay offices, which also received of foreign
bulliou and coin imports an aggregate in gold of $15,119,195.90 out of
$19,006,355 imported during the year, and, in silver, $4,509,108.15 out
of $13,908,763.
'
The net imports, less re-exports, of foreign coin during the year were,
in gold, $8,223,431, and, in silver, $372,557, and the deposits a t t h e mints
and assay offices of foreign coin amounted to $9,095,461.45 gold, and
$1,984,365.62 silver, aud exceeded the net imports by $872,030.45 gold,
and $1,611,808.62 silver, the former beiug probably brought by iraraigrants upon their persons, and the latter by railroad and not reported
to the custora-house.
COINAGE.
The coiuage of gold was abouteight millions less than in the previous
year. This was caused in part by the diminished receipt of gold bullion at the San Francisco Mint, where the deposits of gold of domestic
production fell off three and a half, and the total deposits of gold about
three millions of dollars; and in part by a lessened coinage of gold at
Philadelphia, which mint was principally occupied in manufacturing
silver and minor coins.
The character of the coinage executed during the year was as follows :<
Description.
Gold
Silver
^
Total
Pieces.
Value.
1, 827, 739
34, 775, 793
55, 955, 029
$27, 932, 824 00
28. 773, 387 80
1,174, 709 73
92, 558, 561
57, 880, 921 53
Of the total coinage $23,765,900 were in double-eagles, $2,033,040 in
eagles, and $2,116,020 in half-eagles. In silver $28,099,930 were in
standard dollars, $665,160.30 in dimes, $4,465 in half-dollars, and $3,832.50
in quarter-dollars.
For the reasons stated in my last reijort a large portion of the silver
dollar coinage was executed at the Philadelphia aud New Orleans Mints,
which coined 22,135,930 dollars, while the coinage of this denomination
at the San Francisco and Oarson Mints amounted only to 5,964,000 dollars.
In order to satisfy the demand for dimes on the Pacific coast, the
superintendent of the San Francisco Mint was authorized to purchase
bullion for the coinage of dimes, and during the year 500,000 pieces
were struck.
The demand for bronze cents continued about the same as during the
previous year, and 40,571,962 pieces, ofthe nominal value of $405,719.62,
were issued from the Philadelphia Mint; while the coinage of five-cent
pieces was much less than in the previous year, being 15,374,905 pieces,
of the nominal value of $768,745.25.
HAWAIIAN COINAGE.
Application having been made by the Hawaiian Oo vernment for the
coinage at the San Francisco Mint of one million dollars in silver of denominations to correspond with the coins of the United States in weight
195
DIRECTOR OF THE MINT.
and fineness, regulations of the 9th of November, 1883, were prescribed
by the Secretary of the Treasury as required by the act of January
29, 1874.
The coinage applied for having been authorized by the Secretary of
the Treasury, the Director, with his approval, fixed the charges for coining the number of pieces specified, and the charges having been paid,
the coinage was commenced on the 17th of November, 1883.
The dies prepared for the purpose and furnished by the agent of the
Hawaiian Goverument were, upon completion of the coinage in June,
1884, forwarded to and remain in the possession of the Director of the
Mint.
The apphcation specified the coinage of a piece of the value of oneeighth of a dollar, but this was subsequently changed to a piece of ten
cents.
The total coinage, in pieces and value, was as follows:
Denomination.
Dollars
'
Half-doUars
Quarter-dollars
Dimes
.
Total
Pieces.
Value.
500,
700,
500,
250,
$500,
350,
125,
25,
000
000
000
000
1, 950, 000
000
000
000
000
1,000,000
BARS.
Besides the manufacture of coin, gold bars of the value of $23,875,585.57,
and silver bars of the value of $7,639,724.42—a total of $31,515,309.99—
were prepared at the mints and assay offices.
The bars manufactured in the last fiscal year exceeded in value those
of the previous year by $5,195,502.63. The increase was occasioned by .
a greater demand for these bars at the New York Assay Office, which
prepared during and held at the beginning and close of the year bars
containing gold and silver at standard fineness as follows:
GOLD.
Fine.
Date, &c.
S t a n d , ozs.
275, 849. 301
707, 427. 976
28,710.343
J u l y 1 1883
A d d reclassified
D e d u c t reclassified
Total
Issued
Mint.
S t a n d , ozs.
1,019,821.937
307, 869.103
standard.
Sterhng.
Total.
S t a n d , ozs.
12, 876. 284
74, 655. 883
215, 722, 602
S t a n d , ozs.
11, 066. 236
32, 961. 346
251,282.926
S t a n d , ozs.
1, 385, 613.758
1,122, 914. 308
495, 715. 871
• 1, Oil, 987. 620
800, 419. 792
831, 975.169
665, 231. 273
303, 254. 769
101, 914. 235
361, 310. .508
113, 901. 357
2, 508, 528. 066
1, 681, 466. 657
211, 567, 828
166,743. 896
201, 340. 534
247, 409.151
827, 061.409
J u n e 30, 1884
SILVEE.
266, 030. 36
5, 226, 509. 62
95,944.11
156,164. 88
1,585. 92
31, 937. 50
5, 492, 539. 98
252,108. 99
33,523.42
5„778,172. 39
. . . . - . . . . - . - . 5,174, 059. 99
318,479. 99
188,546.16
63, 562. 83
28,112. 63
5, 410. 79
5, 390, 718.78
387,453.61
J u l v l 1883
Total
Issned
-.
J u n e 30 1884
363, 560. 39
5, 414, 612. 00
196
REPORT ON T H E
FINANCES.
GOLD BARS EXCHANGED FOR COIN.
Gold bars were paid out in exchange for gold coiu duriug the year,
at the Philadelphia Mint, to the value of $381,269.71, and at the New
York Assay Office to the value of $25,419,530.15, a total of $25,800,799.86.
Of, the bars thus exchanged $22,966,975.44 worth were paid out at
New York to exporters for shipment to Europe, and $2,833,824.42 worth
were delivered for use in manufactures, arts, and ornamentation.
PARTING AND R E F I N I N G .
The work of the mints and New York Assay Officein separating gold
and silver, and refining bullion, increased from that iu the preceding
year, the increased receipts of bullion to be parted or refined beiug over
400,000 ouuces, containing nearly $3,000,000 of gold and $400,000 in
silver. The number of gross ounces of bullion reiS.ued or parted iu the
acid refineries and the ouuces at standard fineness and values of the ,
gold and silver resulting from those operations are shown in the following table:
OUNCES.
.l*liilafl e l p b i a
lah F r a n c i s c o
Jiarson
(few O r l e a n s .
{few Y o r k
.
.
S t a n d a r d gold.
Gross.
M i n t or a s s a y office.
.
879, 090.18
5, 505, 896. 55
1,189, 289. 30
.52, 604. 28
5, 514,176. 00
.
. ...
Total
13,141, 056. 31
135,
499,
88,
2,
617,
Standard silver.
577, 210
452, 009
484, 848
897, 851
517, 000
789, 425. 03
5,134, 621. 65
1,142, 713. 74
1 51 211.74
4, 639, 779. 00
1, 343, 928, 918
11, 757, 751.16
VALUE.
M i n t or a s s a y office.
Philadelphia
San Francisco
Carson
N e w Orleans
New Tork
.
Total
..
......
Silver.
Gold.
.
...
$2, 522, 366
9, 292,130
1, 646, 229
53, 913
11, 488, 688
70
40
73
51
37
25,003,328 71
$918, 603
5, 974, 832
1, 329, 703
59, 591
5, 399, 015
Total.
67
46
26
84
56
13, 681, 746 79
$3, 440, 970
15 266 962
2,9/5,932
113 505
16,887,703
37
86
99
35
93
38, 685, 075 50
DIES AND MEDALS.
Fewer dies for coinage were prepared at the Philadelphia Miut than
in the previous year, a less number being required for striking subsidiary silver and minor coins. The total number of dies manufactured
for medals and coiuage was 1,520, of which 132 were fdr the gold, 388
for the silver, and 958 for the minor coinage; 36 for proof and experiraental coins, and 6 for raedals. Sixty coinage dies were prepared for
the New Orleans Mint, 49 for Oarson, 160 for San Francisco, and 1,209
for Philadelphia.
The nuraber of raedals struck at the Philadelphia Mint during the
year aggregated 10,777 ; of which 97 were of gold, 524 of silver, 777 of
bronze, and of goloid from planchets furnished for the " Toronto semicentennial,'MO,000.
During the same period 3,992 medals and 4,118 proof sets were sold,
and thereceipts from this source amounted to $12,410.48.
„ DIRECTOR" OF
THE
MINT.
197
SILVER P U R C H A S E S AND COINAGE.
The silver bulliou belonging to the Governraent available. for thecoinage of standard silver dollars on hand at the coinage mints July
1,1883, amounted to 3,936,880.10 ounces, of standard fineness, and cost
$3,918,793.05. During the year 24,358,835.02 standard ouuces, at a cost
of $24,378,383.91, were purchased and delivered at the several mints,
' as follows:
Standard
ounces.
Mint at which delivered.
Phila delphia..San Francisco .
New Orlearis...
Carson
Total
Cost.
11, 580, 922. 56
4,117, 383. 29
•7, 836, 514. 79
824,014.38
$11,602,821 80
4,102, 719 47
7,853.507 11
819, 335 53.
24,358,835.02
24, 378, 383 91
The average cost of silver jjer'ounce of standard fineness purchased
during the year was $1.00080, and per ounce fine $1.11200. The average London price for silver 925 fine (British standard) during the year
was 50.791 pence, equivalent with sterling exchange at par ($4.8665) to
$1.11339 per ounce 1,000 fine. The average New York price duriug the
year was $1.1156. Of the silver ou hand, and x>urchased duriug the
year, 24,148,377.35 standard ounces, costing $24,133,257.34, were used
in the coiuage of silver dollars, and contained, in sweeps sold, 33,967.51
ounces, costing $34,023.10, and 36,184.10 standard ounces, costing $36,292.23, wasted by the operative officers, leaving a balance of silver
bullion available for the silver-dollar coinage on hand June 30, 1884, of
4,077,186.16 standard ouuces, costing $4,093,604.29. The amouut purchased during the year averaged monthly $2,031,531.99 worth.
SUBSIDIARY
COINAGE.
On the 1st of July, 1883, the Philadelphia Mint had on hand of bullion resulting from the melting of uncurrent silver coius transferred for
recoiuage, and of silver transferred prior to July 1,1883, from the New
York Assay Office aud purchased for the coinage of fractional silver,
19,160.09 ounces, costing $22,465.35.
The superinteudent of the mint at Philadelphia, with the approval
of the Director, purchased in open market, for the coinage of dimes,
for which the demand contiuued from the Treasury aud the public,
333,446.29 standard ounces, at a cost of $333,288.06; aud purchased from
the New York Assay Office during the year, for such coiuage, 188,546.16
standard ounces, costing $219,399.16; making the total amount at the
Philadelphia Miut available during the year for the fractional coinage
541,152.54 standard ouuces, costing $575,152.57,^ of which 501,104.21
standard ounces, costing $530,659.34, were consumed at that mint in
the coinage^of dimes.
The Secretary of the Treasury having requested, under date of December 1, 1883, the coiuage at the San Francisco Mint of $50,000 in
diraes, the superinteudent of that raint, with the approval ofthe Director,
purchased 41,199.01 slandtird oimces, at a cost of $41,157.81. Of this
araouut 40,187.50 ounces of silver bullion, at standard fineness, costing
$40,147.31, were used in coiniug dinies.
Upon the bullion purchased for this coi nage the deductions for charges
were equal to 764.46 ounces, costing $763.70, which amount was transferred and carried into the accounts of the Mint as a purchase for the
198
REPORT
ON T H E
FINANCES.
silver-dollar ,coinage. The balance, 247.05 standard ounces, costing
$246.80, was also subsequently transferred in the accounts and purchased for the silver-dollar coinage, closing the account of silver purchased during the year at the San Francisco Mint for the fractional
coinage.
The total of silver bullion on hand at the mints June 30, 1884, belonging to the Government, excluding amount due depositors, was as
follows:
"
.
Standard
ounces.
Purpose.
Cost.
4, 077,186.16 $4, 093, 604 29
40, 048. 33
44,493 23
For standard dollar coinage
For subsidiary silver coinage
Total
'.
4,117, 234.49
P R O F I T S ON SILVER COINAGE AND T H E I R
4,138,097 52
DISPOSITION.
The balance remaining in the coinage mints to the credit of the silverprofit fund on the 1st of July, 1883, was $1,278,596.59; the profits on the
•coinageofsilver dollars during the year were $3,966,672.66; and on subsidiary silver coined at Philadelphia and San Francisco, $102,651.15;
making the total to the credit of the silver-profit fund during the year
$5,347,920.40. Of this amount $26,667.04 were paid fbr wastage and
loss on saleof sweeps, properly payable frora silver profits, and $57,824.45
for expenses incurred in distributing the coins, and $3,485,984.21 were
deposited in the Treasury of the United States, leaving the balance in
the coinage raints to the credit of this fund on the 30th of June, 1884,
$1,777,444.70. This balance has been deposited in theTreasury by the
several mints as follows :
Mint.
Philadelphia
San Francisco
Carson
New Orleans
Date of deposit.
J
'.
/
-.-•{
August
September
September
August
July
August
Total
20,1884
10,1884
10,1.884
25,1884
26,1884
25,1884
Amount.
$484, 990 43
443,947 78
117,400 16
78,311 81
334, 903 44
317,891 08
$1, 777, 444 70
The profits on the coinage of silver on hand at the coinage miuts on
the 1st of July, 1878, amounted to $424,725.47 ; the profits on the coinage from thatdate to the 30th of June, 1884, amounted to $20,972,913.52.
Adding to these two amounts the sum of $9,237.54, refunded by Adams
Express Oompany for overcharges, and the sum of $4,560.30, carried to
the credit ofsilver profits on accouut of surplus bullion and adjustments
of silver values, makes a grand total of silver profits to be accounted
for during the period of $21,411,436.83. Of this amount $416,223.52
were paid for expenses in distributing the coin, $150,070.77 for loss on
silver in sweeps sold and for silver wasted by the operative officers;
making the net profits $20,845,142.54, all of which have been deposited
in the Treasury, $19,067,697.84 prior to and $1,777,444.70 since the 30th
of June, 1884.
DISTRIBUTION UNDER SECTION 3 5 2 7 , R E V I S E D
STATUTES.
The following statement shows in detail the silver dollars on hand at
the several coinage mints July 1,1883, and coined during the year, and
the balance on hand June 30, 1884, which, deducted from the former,
19»
DIRECTOR OF T H E MINT.
gives the aggregate amount exchanged and paid out by the mints
during the year $17,303,586.
AMOUNT of SILVEB DOLLABS BEPOBTED hy the COINAGE MINTS on H A N D
June 30, 1883, COINED during the year, and on hand at the close of the fiscal year
ended June 30, 1884.
Philadelphia.
Period.
San Francisco.
Carson.
New Orleans.
Total.
On hand June 30 1883
CJoinage fiscal year 1884
$4, 354, 571 $30,841,960 $1, 914, 522 $6,193, 537 $43, 304, 590
13. 230, 930 4, 800, 000 1,164, 000 8, 905, 000 28, 099, 930
Total
In mints June 30,1884
17, 585, 501 35, 641, 960
7,453,512 32, 645, 500
Distributed
, 10,131, 989
3, 078, 522 15, 098, 537
2, 721, 284 11, 280, 638
71, 404, 520
54,100, 934
3, 817, 899
17, 303, 58fr
2, 996, 460
357, 238
CIRCULATION OF SILVER DOLLARS.
The total circulation of silver dollars from the passage of the act of
February 28, 1878, to the commenceraent, middle, and close of the fiscal
year 1884, and to the 1st of October, 1884, as appears from the records
of the mints, and the amount held in the Treasury, as reported by the
Treasurer, and balance in general circulation for those periods, respectively, are shown by the following statement:
COMPABATIVE STATEMENT of the COINAGE, MOVEMENT, and CIBCULATION:
of STANDABD SILVEB DOLLABS at the end of each six months from July I, 1883,.
to July 1, 1884, and for the three months ending Octoher 1, 1884.
In the Treasury.
Period.
J u l y 1,1883....
J a n u a r y 1,1884
J u l y 1,1884....
O c t o b e r 1,1884
T o t a l coinage.
$147, 255, 899
161,425,119
175, 355, 829
182, 380, 829
H e l d for
p a y m e n t of
certificates
outstanding.
$72, 620,
96, 717,
96, 427,
96, 491,
686
721
Oil
251
H e l d in exc e s s of certificates
outstanding.
$39, 293,
22, 731,
39,133,
45, 567,
333
664
905
536
I n circulation.
Total.
$111, 914,
119, 449,
135, 560,
142, 058,
019
385
916
787
$35, 341, 880
41, 975, 734
39, 794, 913
40,322, 042;
The foregoing statement shows that from July 1, 1883, to October 1,
1884, the increase in the total coinage of silver dollars was $35,124,930,
in the amount held by the Treasury $30,144,768, and in the total circulation outside of the Treasury only $4,980,162.
REVTEV^ OF THE OPERATIONS OF THE MINTS AND ASSAY OFFICES.
In the appendix will be found comparative sumraaries of the work of
each of the raints, and of the New York Assay Office, for the last and
the previous fiscal year, and of the other assay offices for the .fiscal
year 1884, which indicate the character, amount, and degree of accuracy of the dperations at these institutions, respectively, during the
periods named. The deliveries of bullion by depositors to the superintendents of the coinage mints and the New York Assay Office and
transfers to and receipts from the operative officers of gold and silver
bullion during theyear, involving the weighing, handling,assaying, and
200
REPORT ON THE FINANCES.
working of more than three hundred and fifty millions of* dollars of
bullion, have been accoraplished without any discrepancies in the accounts of the officers, without loss to the Oovernment, and with general
satisfaction to the public.
' In the appendix also will be found a table showing the value of the
precious raetals wasted by the operative officers at the coinage mints, in
the business of the year, and the loss arising from the sale of gold and°
silver bullion contained in sweeps at a price less than the assay value,
and the manner in which the wastage was paid or reimbursed in the
accounts. The value of the gold and silver wasted at the mints during
the year was $40,601.48, while gold and silver of the value of $60,364.24
was returned by the melter and refiners of the mints and the New York
Assay Office in excess of the amounts with which they were charged
during the year, and bulliou of the value of $8,521.45 was obtained
frora the sweepings of the deposit-raelting ^md weigh rooms of the
institutions named; making a total gain of $68,885.69, or an actual excess over and above the amount wasted by the operative officers in the
business of the year of $28,284.21.
From this it will be seen that although the law contemplates a loss
in the operations on bullion and makes provision for its allowance, if
bona fide and within the prescribed limits, the busiuess has been so
carefully and honestly conducted that instead of a net loss there has'
been a profit iu the operations on bullion.
This is highly creditable to the officers in charge of the difierent
branches of work in the various institutions, as well as to the workraen
engaged in these delicate and responsible operations.
APPROPRIATIONS, EARNINGS, AND EXPENDITURES.
The araount appropriated for the support of the raints and assay
offices for the fiscal year ended June 30, 1884, was $1,191,650 or
about $7,000 less than the preceding year. Uf this araount there was
expended at the various institutions the sura of $1,154,660.80, and in addition thereto there was expended from the appropriation contained in
the act directing the coinage of the standard silver dollar $136,054.78
on account of the mints and $1,261.96 at the Treasury Department, the
latter being principally for cablegraras giving daily London price of
silver. The total expenses of the service amounted, therefore, to
$1,291,977.54, about $30,000 less than the amount expended in 1883.
The following table exhibits the appropriations for the support of the
several institutions and the amouuts expended to each:
APPROPRIATIONS, 1884.
Institution.
Philadelphia Mint
S a n Frfl,nr,iano M i n t
Carson Mint
N e w Orleans M i n t
Denver Mint
N e w Y o r k A s s a y Office
H e l e n a A s s a y Office
Bois6 A s s a y Office
C h a r l o t t e A s s a y Office
S a i n t L o u i s A s s a y Office
Total
Salaries.
...
.
$41,5.50
43, 400
29, 550
31, 950
10, 950
39, 250
7, 950
3, 000
2, 750
3, 500
00
00
00
00
00
00
00
00
00
00
213,850 00
Wages.
$293,
242,
54,
74,
12,
25,
12,
000
000
000
000
000
000
000
.
00
00
00
00
00
00
00
712, 000 00
Contingent.
$100, 000
70, 000
25, 000
35, 000
6, 000
10, 000
8, 000
5, 000
2, 000
4, 800
00
00
00
00
00
00
00
00
00
00
265, 800 00
C o i n a g e of
the standard
s i l v e r dollar,
a c t of F e b r u a r y 28,1878
(indefinite).
Total.
(j
.$434, 550
355,400
108,550
140, 950
28 950
74,250
27, 950
8, 000
4, 750
8, 300
00
00
00
00
00
00
00
00
00
Oo
1,191, 650 00
201
DIRECTOR O F T H E MINT.
E X P E N D I T U R E S , 1884.
Institution.
Philadelphia Mint
San F r a n c i s c o M i n t
Carson Mint
......
N e w O r l e a n s Mintr
Denver Mint
N e w Y o r k A.ssay Office
H e l e n a A s s a y Office
Boi86 A s s a y Office
C h a r l o t t e A s s a y Office
S a i n t L o u i s A s s a y Office
Salaries.
*
Total
40, 503 18
43,400 00
29, 050 00
31,873 10
10, 950 00
39, 250 00
7, 950 .00
3, 000 00
2, 750 00
3, 500 00
212, 226 28
Contingent.
Wages.
*293,
231,
53.
73,
12,
23,
11,
229
855
999
988
000
038
389
91
75
25
24
00
50
55
1100,173 35
54, 650 07
22, 134 17
34,998 00
5, 507 84
8, 685 16
7, 998 93
4,973 34
1, 973 95
1, 838 51
699, 501 20 1
242, 933 32
C o i n a g e of
the standard
s i l v e r dollar,
a c t of F e b r u a r y 28,1878
(indefiuite).
84, 422
4, 649
17,308
29, 674
70
00
54
54
136, 054 78
•
Total.
518, 329
334, 554
122,491
170, 533
28, 457
70,973
27, 338
7, 973
4, 723
5,338
14
82
96
88
84
66
48
34
95
51
1, 290, 715 58
1
* Includes $229.91 expended from reimbursements by Hawaiian Government for coinage dies,
t Includes $173.35 from reimbursements for materials used.
In the appendix will be found the annual table of earnings and expenditures, showing the earnings, profits, and gains from all sources •
under their appropriate titles, and all expenditures and losses of every
kind.incurred during the year. The total amount earned was $5,433,102.64, aud the total expenditures and losses of all kinds amounted to
$1,676,002.73.
R E F I N E R Y EARNINGS AND E X P E N D I T U R E S .
The araount collected at the various raints and the New York Assay
Office of depositors and sellers of bullion during the fiscal year, as
charges for parting, refining, and toughening bullion, amounted to
$268,489.33. These charges are by law required to be used iu paying
the expenses of the operations, for which purpose the sum of $247,798.79
was expended at the institutions named during the year.
The following statement shows the amount collected and expended
for this purpose at each institution:
Institutions.
Philadelphia Mint
San Fiancisco Mint
Carson Mint .
New Orleans Mint
New York Assay Office
Total
Charges .collected.
Expenditures.
$11, 404 45
134, 106 25
16, 630 97
738 63
105, 609 03
$10, 309 27
132, 579 53
21, 803 33
34 77
83, 071 89
268, 489 33
247, 798 7^
The balance remaiuing in the Treasury of the United States at the
close of the fiscal ;year 1884 to the credit of the parting and refining appropriation, being the excess of the charges collected for those operations over the exxjenditures from the 1st of July, 1876, to June 30,1884,
was $182,484.83.
P H I L A D E L P H I A MINT.
The deposits and purchases of gold aud silver bullion at this mint
during the fiscal year 1884 amounted to $16,802,750.40, being au increase over the previous year of nearly a million and a half.
The coinage of gold coutinued to fall ofi*, being about $5,000,000 less
than iu 1883, but the coinage of silver was $1,500,000 more. The minor
coinage executed was about the same as in the prior year.
In the melter and refiner's and coiner's departments about 3,000,000
more ouuces of silver were treated thau in 1883. The amount of gold
202
ItEPORT ON THE FINANCES.
bullion operated was considerably less than in the prior year, being
scarcely two-thirds. The ratio of wastage was about the same.
In preparing ingots, the melter and refiner operated upon 538,576.550
ounces of gold, making 109 melts, of which 6 were condemned, and
25,227,322 ounces of silver, making 8,281 melts, of which 47 were condemned.
The coiner received 538,576.550 ounces of gold ingots, of which he
delivered in coin 27.8 per cent., and 25^047,074 ounces of silver, of
which he delivered 47.2 per cent, in coin.
SAN FRANCISCO MINT.
On account of the declining production and import of gold on the
Pacific coast, and the diminished purchase of silver bullion, in consequence of the accumulation of silver coin at San Francisco, the deposits
and purchases of bullion, as well as the coinage of both gold and silver,
and amount of bullion refined, were considerably less than in the previous year. The deposits and purchases in the fiscal year 1884 were
$30,458,125.14, as against $35,328,140.74 in 1883. The number of pieces
struck in 1884 was only 62,550 less in gold and 100,000 less in silver,
including Hawaiian coinage, than in 1883; but the value of the gold
coinage was $3,216,500 less, and of silver, including the coinage for the
Hawaiian Government, $1,500,000 less, and 562,985 less ounces of bullion were received and operated upon at the refinery.
The melter and refiner again returned on settlement a surplus of
gold bullion valued at $15,896.89. His silver wastage was again heavy,
amounting to 16,309 ounces of standard bullion, and but 264 ounces
less than that of the previous year.
Upon careful examination to ascertain the cause of this wastage it
seemed probable tbat it was occasioned by the greater proportional
deposit of base silver bullion, upon which insufficient deductions had
been made. To cover the unavoidable loss in refining such bullion
instructions were given to increase the deductions on low-grade and
refractory silver bullion.
The coinage authorized for the Hawaiian Oovernment, of one million
dollars in silver coins was executed in a satisfactory manner and completed before the close of the fiscal year.
CARSON MINT.
The gold deposits, coinage, and work at this mint varied but little
from that of the previous year. A steady supply of silver has been purchased, mostly in lots of less than 10,000 ounces, and the silver coinage has averaged about $100,000 per month.
During the year the melter and refiner made 5.6 melts of gold ingots,
of which 6 were condemned, and 1,187 melts of silver ingots, of which
2S were condemned. The coiner operated upon 172,920.20 standard
ounces of gold, and produced 86,654 standard ounces of coin, or 50.11
per cent., and upon 2,194,569.80 standard ounces of silver, and produced
1,000,312 standard ounces of coin, an average of 45.58 per cent.
MINT AT NEW ORLEANS.
No gold was coined at this mint during the year.
Standard silver dollars were struck of the value of $8,905,000, being
an increase of $865,000 over their coinage in the previous fiscal year.
DIRECTOR OF THE MINT,
203
The melter and refiner operated on 15,457,500.70 standard ounces of
silver, and made 1,818 melts, of which 10 were condemned.
The coiner operated on 15,128,638.30 standard ounces of silver ingots,
from which were produced and delivered to the superintendent 50.5 per
cent, in silver dollars.
NEW YORK ASSAY OFFICE.
The deposits of gold bulliou at this institution during the year
amounted to $20,270,958.31, and of silver to $6,297,114.84; a total of
$26,568,073.15. The deposits of gold exceeded those of the prior year
by something over $3,000,000, while the deposits of silver were about
the same. Gold bars were manufactured for depositors of the value of
$20,891,428.98, and silver bars $6,300,639.42. The gold bars manufactured exceeded in value those manufactured during the prior year by
nearly $5,000,000.
The melter and refiner has maintained the high reputation of his
department. The surplus of gold and silver returned at the last annual settlement exceeded that of any previous year.
OTHER ASSAY OFFICES.
The deposits of gold at these institutions and also the bars manufactured, exceeded by a half million dollars those of the previous year.
The charges and other earnings were about $4,000 more than in 1883,
while the expenses were increased less than $3,000.
EXAMINATIONS OF MINTS AND ASSAY OFFICES.
During or after the close of the fiscal year all of the mints and assay offices were officially visited by myself or representatives, and the
methods of keeping the accounts and conducting the operations were
examiued.
The amount of moneys and bullion called for by the books was found
upon actual count to be in the possession of the officers or satisfactorily
accounted for.
At the close of the year the operative officers at the coinage mints
and the New York Assay Office delivered under the supervision ofthe
representatives of this office all the gold and silver in their possession
to the several superintendents, and in no case was the deficiency iu excess of the legal allowauce for wastage. After the deliveries in settlement were completed the amount of coin and bullion in the hands of the
superintendents was counted or weighed.
ANNUAL ASSAY.
The comraissioners appointed under the provisions of section 3547
Eevised Statutes for the purpose of raaking the annual trial of the coins
reserved at the several raints, raet at Philadelphia on the 13th of February last. They tested the weight and fineness of the coins taken from
deliveries raade by the coiners to the superintendents in each raouth
ofthe year. The committee outweighing reported " that all the coins
weighed are within the limits of exactness required by law, and that in
fact very few vary from the standard by one-half the tolerance." The
committee on assaying reported the greatest excess in the assay value
of the gold coinage above the standard at the different mints to be as
204
REPORT ON THE FINANCES.
Stated in the following table (the limit of tolerance being one-thousandth) :
.
At
At
At
At
Philadelpliia
Sail Fraucisco
New Orleans
Carson
1 of . 001
2 of. 001
No coin.
4 of . 001
„
The greatest deficiency below the standard (the limit of tolerance being one-thousandth):
AtPhiladelphia
At San Francisco . . . :
At New Orleans
At Carson
•
5 of .001
5 of. 001
3 of . 001
Oof .001
Of silver, the maxiraura assay above the standard (the limit of allowance being three-thousandths):
AtPhiladelphia...
At San Francisco
At New Orleans
At C a r s o Q - . . . .
1
1
1.3
0.7
1.1
1.6
of
of
of
of
.001
.001
.001
. 001
The greatest deficiency below the standard, the tolerance being the
same (three-thousandths):
AtPhiladelphia
At San Francisco
At New Orieaus
At Carson..'
,
.9
1.1
1.1
9
of
of
of
of
. 001
. 001
. OOl
. 001
The assay comraittee also assayed the inquartation silver, the copper,
and the lead used in assaying gold bullion, and fouud thera free from
gold. The weights employed were carefully tested and foand to be
correct. The reagents were also examined with perfectly satisfactory
results; whereupon the commission reported:
That the assay commission having examined and tested the reserved coins of the
several mintsvfor the year 1883, and it appearing t h a t these coius are within the tolerance prescribed by law, the trial is considered and reported as satisfactory.'
The proceedings of the annual assay commission show that the
average fineness of 315 gold coins from the mints of Philadelphia, San
Francisco, and Oarson melted iu mass, was 900 and of 49 single pieces
899.5. The assays raade monthly in the assay laboratory of this Office
gave au average for 40 pieces of 899.68.
The commission ascertained that the average fineness of 960 silver
dollars of all the mints melted in raass was 900.6, and 70 single pieces
taken from each month's coinage at each mint, 900.3.
The monthly tests made at the assay laboratory of 597 silver dollars
gave au aA-erage fineness of 899.85.
The assays made b y t h e comraissioners and those raade b y t h e assayer of this Bureau show that the coinage for the year was close to the
standard of fineness. Tables of the annual and raontbly assays appear
in the appendix.
MONETARY STATISTIOS.
ESTIMATION OF T H E VALUES OF FOREIGN COINS.
By section 3564 of the Revised Statutes it is raade the duty of the
Director of the Mint to estimate annually the values of the standard
coins in circulation of the various nations of the world. For the purpose of ascertaining the circulation and the weight and fineness iof the
standard coins of foreign countries inquiries are annually made through
DIRECTOR
OF
THE
205
MINT.
representatives of the United States in regard to the coinage and moveraent of the. precious raetals and the araount and character of the circulating raediura. Upon the basis of such and other inforraation the estimation required by law has been raade.
In the estimation of the values proclaimed by the Secretary of the
Treasury on the 1st of January, 1884, no changes were raade in the
values of foreign gold coins. The price of silver bullion having declined,
a corresponding reduction was raade in the value of the coius of those
countries where silver coins are the standard of value, and whose currency is upon a silver basis.
For the reason stated, the value of the Austrian florin was reduced in
the circular of January 1,1884, from 40.1 to 39.8 cents; the boliviano
of Bolivia from?" 81.2 to 80.6 cents; the peso of Ecuador and Uuited
States of Oolombia and the sol of Peru from 81.2 to 80.6 cents; the
rupee of India from 38.6 to 38.3 cents; the yen of Japan from 87.6 to
86.9 ceuts ; the dollar of Mexico from 88.2 to 87.5 cents ; the rouble of
Russia from 65 to 64.5 cents, and the mahbub of TrixDoli from, 73.3 to
72.7 cents.
PRODUCTION
OF GOLD AND S I L V E R IN T H E U N I T E D
STATES.
Inquiries to ascertain the production of the precious metals in the
United States (for the expense attending which au appropriation is
made by Oongress for this Office) were continued as heretofore, aud the
facts collected and my conclusions as to the amount obtaiued from the
raines of the United States duriug the year 1883 were submitted aud
published in a special report.
To estimate with any degree of accuracy the productionof gold and
silver it is necessary to ascertain the moveraent, consumption, or other
disposition of the precious metals, and it seeras, therefore, proper also to
present succinctly the facts obtained iu regard to the raonetary condition ofthe country, audits raetallic circulation, connected with the production, coinage, and circulation of the precious metals.
From ray last special report the production of the several States and
Territories in 1883 appears to have, been as follows :
state or Territory.
Alaska
I
Arizona
Callifornia.
Co orado
Dakota
Georgia
Idaho
-Montana
Nevada
New Mexico
North Carolina
Oregon
South Carolina
Utah
Virginia
'
Washington
Wyoming
Other (Alabama, Tennessee, &o.)
Total
Gold.
Silver.
Total.
$300, 000
5300, 000
6,150, 000
950, 000 $5, 200, 000
120, 000 1, 460, 000 15, 580, 000
100, 000 17, 370, 000 21, 470, 000
3, 350, 000
200, 000
150, 000
200, 000
199, 000
1,000
400, 000 2,100, 000
3, 500, 000
800, 000 6, 000, 000 7, 800, 000
520, 000 5,430, 000
7,950,000
280, 000 2, 845, 000
3,125, 000
167, 000
170, 000
3,000
660, 000
680, 000
20, 000
57, 000
500
56, 500
140, 000 5, 620, 000 5, 760, 000
6,000
6,000
80, 500
80, 000
500
• 4,000
4,000
17, 500
17, 500
30, 000, 000 46, 200, 000
76, 200, 000
This is a decline from the production of the previous year, in gold of
two million five hundred thousand, and in silver of six hundred thou-
206
REPORT ON THE FINANCES.
sand, and much more than I had anticipated in estimating in my last
annual report the probable production of the year. It resulted chiefly
from the interruption of hydraulic gold mining in Oalifornia in many
localities by mandate of the courts, at the instance of the owners of agricultural lands daraaged by the deposit of debris and sediment in the
valleys and on the bottom lands adjacent to the streams in the, lower
counties, and from the diminished yield of silver from some of the most
productive mines of Arizona and Utah.
A comparison of the receipts of gold and silver at the mints and exports of domestic silver during the first eight months of the calendar
years 1883 and 1884 indicates a decline in the yield of the mines of the
United States during the preseut year of about $1,000,000 in gold and
a probable iucrease of $2,0(K),000 in silver; for while the deposits of
domestic gold for the first eight months in 1883 were $20,265,384.34, for
the corresponding period in 1884 they amounted to only $19,584,511.64,
a decline of $680,872.70. Duriug the same time the deposits and purchases of domestic silver varied but slightly, but the exports of domestic silver were about $1,500,000 greater in 1884 than in 1883. On
the other hand the reported production of thirty silver mines, as published in fhe raining journals, shows a diminished yield of over a million
of dollars.
It seems probable that the full returns of production at the close of
the year will show a production by the mines of the United States of
$29,000,000 of gold and of silver at its standard dollar coining rate of
nearly $48,000,000.
CONSUMPTION OF G-OLD AND SILVER IN UNITED STATES.
For the purpose of obtaining raore complete information in regard to
the use of the precious metals in the arts and ornamentation, circular
letters to the number of 7,969 were again sent to all persons and firras
in the United States whose address could be obtained reported to be
using and consuraing the precious metals for industrial purposes.
To these letters 5,418 replies were received, which showed the consumption by 2,734 persons and firms engaged in the manufacturing or
the repair of articles of ornamentation and use of nearly $14,500,000
worth of gold, and over $5,500,000 worth of silver, a total of over
$20,000,000. This is an increase of $7,000,000 over that reported in
1882, when, however, less than half as many persons and firms reported.
The Superintendent of the United States Assay Office at New York
states that the value of the bars furuished presumably for use in the
arts and manufactures during the fiscal year 1883 was, gold, $4,615,118;
silver, $5,205,996; total $9,821,114. The value of the bullion, consisting
of stamped United States or refinery bars, reported by manufacturers
to have been used, was of gold $7,137,761, and of silver $4,552,172. This
would indicate an increased use of gold and silver in ornamentation and
for industrial purposes, especially in United States gold coin and of
United States or refinery bars, as reports show over seven millions of
stamped United States or refinery bars used by the manufacturers. It
would seem probable that six millions of this is gold bullion of domestic
production, and that four and a half millions ofthe silver produced in
the United States during the last calendar year were appropriated for
use in the arts.
207
DIRECTOR OF T H E MINT.
CIRCULATION OF T H E UNITED STATES.
Upon the basis of the annual gains by coinage and import of coin^
less the losses by recoinage, export, and consumptiou iu the arts, I estiraated in ray last annual report the coin circulation of the United
States at the close of the last fiscal year to have been about $765,000,OOOy
of which $537,000,000 was gold, and. $228,000,000 silver. Upon the
sarae basis I estiraate the coin circulation on the first of July, 1884, to,
have beeu $802,000,000, of which $250,000,000 was silver, and nearly
$552,000,000 gold.
In arriving at these figures I have deducted from the silver circulation six million out of the seven millions of trade dollars heretofore estimated to constitute a part of the silver circuiatiou, and $4,875,000,gold
coin reported to have been used in the arts, which exceeds the similar
deduction for 1883 by $2,375,000.
The net gain to the coin circulation was $14,000,000 in gold and
$22,000,000 in silver, as appears from the following table giving the
exact figures of the gains and losses during the year:
United States coin.
Circulation Jnly 1, 1883 .
Tear's comage
Oold.
Silver.
Total.
$765, 470, 995
$537 254, 794 $228,216,199
27, 932, 824
28, 773, 388
56,706,212
Total.
565,187, 618
Less net exports
Deposits for recoinage
Used in the arts
Trade dollars withdrawn ftom circnlation.
Total loss
Circulation July 1, 1884 ..,
Net gain daring the year.
256, 989, 587
822,177, 205
8, 417, 059
263,117
4, 875, 000
4,199
152,031
216, 000
6, 000. 000
8, 421, 258
415,148
5, 091, OOO
6, 000, 000
13, 555,176
551, 632, 442
14, 377, 648
6, 372, 230
250, 617, 357
22, 401,158
19, 927,406
802, 249, 79&
36, 778, 806
This circulation, from the statements ofthe Treasurer and Oomptroller of the Ourrency for the periods nearest to the 1st of July, would
appear to have been owned on July 1, 1884, as follows:
Silver.
Belonging to—
Gold.
Legal tender. Subsidiary.
Treasury
National banks
Other banks
Private hands
. .
Total.
*$89,190, 346
*$39,133, 905 $29, 600, 720 $68, 734, 625
197, 682, 848
18, 978, 833 13, 000, 000 11, 978, 833
+30, 000, 000 1 127,243,091 . 42,660,808 169, 903, 899
. . . . . . . . 334, 759, 248
Total
*Le8S outstanding certificates,
, 551 632, 442
175, 355, 829
75, 261, 528 250, 617, 357
tincludes Treasury and clearing-house certificates.
Total United
States gold
and silver
coins.
$157,924,971
109, 661, 681
534, 663,147
802, 249, 799
J Estimated.
In computing the above table I have deducted from the coin in the
Treasury and added to that in banks and the hands of private parties
the amount of the gold and silver certificates outstauding, for the payment of which the law requires a corresponding amount of coin to be
held in the Treasury.
The coinage from July 1 to October 1 was, of gold $6,876,299, and
208
R E P O R T ON T H E
FINANCES.
silver $7,097,000. The deposits of United States coin at the mints and
assay offices were, gold $69,180 aud silver $271,550, making the net
gain from coinage, less recoiuage, $6,807,119 gold aud $6,825,450 silver.
The net imports of United States gold coiu were $368,880, and the
net export ofsilver coins $193,100. Estimating the consuraption in the
arts at $1,220,000 gold aud $50,000 silver, one-fourth of the araount reported for the previous year, leaves the circulation of United States coin
on the 1st ofOctober instant gold $557,500,000 and silver $257,000,000,
a total of $814,500,000, as appears frora the fbllowing tabular stateraent:
GAIN in COIN from J U L Y 1 to OCTOBEB 1, 1884.
Items.
Gold.
C i r c u l a t i o n J u l y 1,1884
C o i n a g e (less r e c o i n a g e ) t o O c t o b e r 1, 1884
N e t imports
Total.
$551,632,442
6,807,119
368, 880
$250, 617, 357
6, 825, 450
$802, 249, 799
13, 632, 569
368, 880
558, 808, 441
257, 442, 807
816, 251, 248
1, 220, 000
50, 000
193,100
1, 270, 000
193 100
Total
Less used in t h e arts and manufactures
Net exports
.......
Total
C i r c u l a t i o n O c t o b e r 1, 1884
Silver.
•.
1, 220, 000
243,100
1, 463,100
557, 588, 441
257,199, 707
814, 788,148
This does not include the bullion in the Treasury belonging,to the
Governraent and held for coinage, which amounted on the 1st of October to $52,950,000 of gold and $4,935,000 of silver bullion, which raay be
properly considered a portion ofthe Treasury reserve, and would raake
the total araouut of coin and bullion available for coinage at that date,
gold $610,500,000 and silver $262,000,000, being a total of $872,500,000.
The followiug table, corapiled from the published statements of the
Treasurer of the United States and the Oomptroller of the Ourrency, so
far as relates to the money iu the Treasury aud iu national bauks, shows
the character and possession of the circulatiug medium of the Uuited
States on the 1st of July 1884:
STATE of CIBCULATION J U L Y 1, 1884.
I n Treasury.
Gold b u l l i o n . . . . . . . . .
Silver bullion
Gold coin
Silver dollars
F r a c t i o n a l silver coin . . . . . .
Gold certificates
Silver certificates
U n i t e d S t a t e s notes
National bank notes
Fractional currency
Total
.
I n national
banks.
$44,193, 050
4, 950, 785
160, 33f), 986
135, 560, 916
29, 600, 720
27, 246, 020
23, 384, 680
40,183, 801
8, 809, 990
7,027
$71,045,738
6, 117,333
*3, 000, 000
26,637.110
2. 861, 000
76,91.7,212
23, 386, 695
473, 046
474, 273, 975
210, 438, 634
* Estimated.
I n other b a n t s
aud general
circulation.
Total.
718
080.
808
530
Oil
443
858
988
$44,193, 050
4, 950, 785
551 632 442
175, 355, 829
75, 261, 528
98,392,660
119,811,691
346. 739, 456
339, 950, M3
6, 980, 061
1, 078, 555, 436
1, 763, 268, 045
$320, 249,
33. 677,
42, 660,
44, 509,
93, 566,
229, 638,
307, 753,
6, 499,
209
DIRECTOR OF T H E MINT.
From the 1st of July to the 1st of October an increased araouut of
gold and silver coin and gold and silver certificates was in circulation as
well as held by the Treasury as shown by thefollowing statement:
STATE of TOTAL UNITED STATES CIBCULATION OCTOBEB 1,1884.
I n Treasury.
Gold bullion
Silver bullion
G o l d coin
Silver dollars
F r a c t i o n a l s i l v e r coin
G o l d certificates
S i l v e r certificates
U n i t e d S t a t e s n o t e s ..
National bank notes..
Fractional currency..
Total...
In banks and
g e n e r a l circulation.
Total.
$52, 946, 587
4, 934, 404
164, 957, 455
142, 058, 787
29, 474,160
33, 546, 960
26, 769, 470
36, 524, 872
11, 078, 957
7,105
$392, 630,986
. 40, 322, 042
45, 344, 718
87, 389, 660
96, 491, 251
310, 214, 484
324, 750, 271
970,155
$52, 946, 587
4, 934, 404
5.57, 588,441
182, 380, 829
74,818,878
120, 936, 620
123, 260. 721
346, 739, 356
335, 829, 228
6, 977, 260
502, 298, 757
1, 304,113, 567
1, 806, 412, 324
Assuming the amount of paper and specie in thenational banks to have
been the same October 1 as ou June 22, the amount held bythe public and
banks, other than national, on October 1,1884, was about $1,094,000,000,
or over $15,000,000 more than on July 1, 1884.
CIRCULATION OF FOREIGN
COUNTRIES.
In the appendix to this report will be found the official dispatches* in
answer to inquiries submitted at your request for the use of this Office
in ascertaining the character and standards of the circulation of the
various countries of the world,, but I have thought it desirable to present a brief sumraary of the more important information furnished in
regard to each country.
GREAT BRITAIN AND COLONIES.
Great Britain and Ireland:—Under date of March 21, 1884, Minister
Lowell forwards replies by the English Government to the inquiries in
reference to the coinage, currency, &c., of that Kingdom during the
year 1883:
Description.
Value.
V a l u e in U n i t e d
States money.
Gold coinage
Silver coinage
£ 1 , 403, 713
1, 274, 328
$6,831,169 31
6, 201, 517 21
I m p o r t s , gold
7, 700, 000
9, 300, 000
.37,472,050 00
45, 258, 450 00
17, 000, 000
82, 730, 500 00
6, 525, 000
8, 700, 000
31, 753, 912 50
42, 338, 550 00
Imports,^ s i l v e r
Total
E x p o r t s , gold '.
E x p o r t s , silver
74, 092, 462 50
Total
CIRCULATION DECEMBER 31, 1883
Gold...!
Silver
Bank-notes
Total
120, 829, 000
19, 530, 000
42, 053, 000
588, 014, 328 50
95, 042, 745 00
204, 650, 924 50
182,412,000
887, 707, 998 00
* This matter is omitted for want of space, but it may be found in the separate
volumes of the Director's report.
5022 F
14
210
REPORT ON THE
FINANCES.
In arriving at the amouut of gold in circulation in Oreat Britaiu and
Ireland I have added to my estimate of last year, $587,683,000, t h e n e t
imports of gold into Oreat Britain, namely, £1,175,000, and deducted
the amount probably consumed in the arts and manufactures, estimated
by Mr. Giffen to be £2,000,000 annually, which leaves a net loss of
£825,000, say $4,000,000, making the circulation $583,500,000.
Canada.—Oonsul Oeneral Stearns forwards from Montreal, under date
of January 17, 1884, a report on the coinage, production, &c., of the
Dominion of Oanada for 1882 :
Imports:
Gold
:
Silver
E x p o r t s : Gold
Production: Gold . . . . :
In treasury December 31, 1882 (gold coin)
a n banks December 31, 1882 (gold coin)
In circulation:
Government notes
Banknotes
$1,288,752880,000
476,19'2
. 954,000
2, 471,148
6,551,761
:
16,115, 084
36,501,695
Hon. L. P. Morton, United States minister, forwards, under date of
April 24, 1884, a stateraent furnished by the .French minister of finance
relative to the imports, production, &c., of that Eepublic for 1883:
Coin a n d b u l l i o n .
G o l d coin
Gold b u l l i o n
Silver bullion
Total
Imports.
Francs.
37,134, 275
26, 208,198
61, 037,-506
23, 828, 906
148, 208, 885
Exports.
08
21
66
86
Francs.
89, 371, 277
45, 459. 652
82, 092, 954
18, 953, 006
28, 604, 314 81
235, 876, 889
$7,166, 915
5, 058,182
11, 780, 238
4, 598, 978
Value.
P r o d u c t i o n i n 1882 (silver)
I n B a n k of F r a n c e D e c e m b e r 31, 1883
Gold
Silver
Total
I f o t e s of t h e B a n k of F r a n c e in c i r c u l a t i o n
$17, 248, 656
8, 773, 712
15, 843, 940
3, 657, 930
4684
1216
45,'524, 239 5&
Value in
IJnited States
money.
Francs.
3, 077, 998
$594, 053 61
960,814,991
1, 002, 283,187
185, 437, 293 26
193,440,655 09
1, 963, 098,178
378,877,948 35
2, 946, 774, 450
568, 727, 468 85
In^ my report of last year I estimated the circulation of France to have
been, gold, $873,000,000; silver, full legal tender, $540,000,000; silver,
limited .tender, $57,900,000. The gold raust be reduced by the net loss
frora exports, $14,000,000, and the probable araount consuraed in the
arts, $11,000,000, a total of $25,000,000, which would make the circulation of gold $848,000,000, and the silver $3,000,000 loss from exports,
which would place the silver circulation of that country at $537,000,000,
DIKECTOB
OF
THE
211
MINT.
SWITZERLAND.
M. J. Oramer, tlnited States minister, forwards, under date of March
5, 1884, information relative to the production, consumption, &c., of
the precious metals in that Eepublic during the calendar year 1883.
Ooinage, gold, 5,000,000 francs ($965,000).
1883.
Imports.
•
G-old
Silver
.
Total
-
-
.
--
Exports.
KUograms.
75
909
$49, 845 00
37, 784 40
Kilograms.
19
242,
$12, 627 40
10, 059'21
984
87, 629 40
• 261
22, 686 61
Circulation.
Description.
Valuein
United States
money.
Value.
I n T r e a s u r y D e c e m b e r 31, 1883:
Gold
. Silver
In banks:
Gold
Silver
B a n k notes in circulation
.
Francs.
402, 000
244, 000
$77, 586
47, 092
39, 401, 000
24, 021, 000
117, 551, 000
7,604,393
4, 636, 053
22, 687, 343
BELGIUM.
Minister Fish, uuder dates of March 10 and July 4, 1884, forwards
information from the minister of foreign affairs relative to the monetary affairs in 1883. The imports and exports of gold and silver were:
Imports.
Exports.
Gold
Silver...:
Kilograms.
1,062
401,171
$705, 805 20
16, 675, 474 95
Total
402, 233
17, 381, 280 15
Kilograms.
4,914 $3, 265, 844 40
83,167
3, 457, 002 7a
88, 081
6, 722, 847 10
Coin in Banig[ue Nationale Deeemder 31, 1883.
Coin.
Gold
Sidver
Value.
Francs.
62, 296, 945
17, 313, 520
Value in
IJnited States
money.
$12,023,310 39
3, 341, 509 36
Legal-tender circulation (Banque Nationale notes exclusively) December 31, 1883
( p a y a b l e a t sight), 357,611,140 francs ($69,018,950.02).
In arriving at my estimate of the circulation of gold and silver in
Belgium I have deducted from ray estimate of last year the loss by
exports, $2,560,000 gold, and $1,500,000 as the amount used in the arts
and ornamentation, leaving the circulation of gold $64,000,()(M). ^To
silver I have added the excess of imports over exports, $13,000,000,
making the estimated silver full legal-tender circulation $53,000,000.
212
REPORT
ON
THE
FINANCES.
SPAIN.
Mr. Dwight T. Eeed, charge de affaires and consul-general at Madrid,
transmits two papers from the rainister of foreign affairs of the Kingdom
of Spain, giving statistics of coinage and moveraent of precious metals,
the first paper relative to the year 1881, and the other, of which a
resume is given, relating to 1883.
The coinage was:
Value in
IJnited States
money.
Description.
Pesetas.
109,156,100
15, 959, 553
16, 721, 425
54,525,499
Gold (1881) .
S i l v e r (1881)
Gold (1883)-.
S i l v e r (1883)
$21, 067,127 30
3,080,193 73
3, 227, 235 03
10, 523, 421 20
I n PuMic Treasuries Decemher 31, 1883.
Description.
Value.
Pesetas.
1, 630, 671
8, 434, 059
Gold
SUver
Value in
United States.
money.
$314,719 50
1, 627, 773 39
PORTUGAL.
Hon. John M. Francis, minister resident aud consul-general at Lisbon,
forwards, under date of June 19,1884, replies from official sources to the
interrogatories of the Departraent circular dated January 28, 1884.
The iraports and exports were:
1883.
Gold
Silver
..
.
Imports.
.
Total..'
Exports.
$21, 044, 080
500, 713
$2, 425, 351
107 888
21, 544, 793
2 533 239
Amount of gold coin in b a n k s December 31, 1883
B a n k notes o u t s t a n d i n g
|11,718, 874
6,367,680
GERMANY.
H. Sidney Everett, secretary of legation at Berlin, forwards, under
dates of April 21 aud May 26, 1884, statistics relative to the coinage,
imi)orts, &c., of that Erapire for the calendar year 1883:
COn^AGE.
1883.
Gold...
Silver.,
Value.
Marks.
88, 247, 470
2,497,750
Value in
United States
money.
$21, 002, 897 86
594, 464 50
213
DIRECTOR OF THE MINT.
IMPORTS AND EXPORTS.
1883.
Imports.
Gold.
Silver
Total
Exports.
Kilograms.
8,168
43,113
$5, 428, 452 80
1, 792, 078 07
Kilograms.
13,259
96, 863
$8, 811, 931'40
4, 026, 304 32
51, 281
7, 220, 530 87
110,122
12, 838, 235 72
PRODUC TIOI:^.
1883.
Gold
Silver
Value.
Kilograms.
457
230, 695
:
Value in
United Statea
money.
$303, 722 20
9, 589, 299 06
The gold and silver coinage up to close of 1883 (less recoinage) was:
Description.
Value.
Value in
United States
mouey.
Marks.
1, 743, 369, 780 $414, 922, 007 64
441, 585, 587 105, 097, 369 71
Gold
Silver
T H E CIRCULATION OE P A P E R MONET AT CLOSE OF 1883.
Character.
Value.
Marks.
144, 845, 570
1, 029, 831, 000
643, 473, 000
Treasury notes
Bank notes
I n bank December 31, 1883 (gold)
Value in
United States
money.
$34,473, 245 66
245, 099, 778 00
153,146,574 00
AUSTRIA-HUNGARY.
Minister Taft, under date of March 26, 1884, incloses a paper from
the minister of foreign affairs containing information relative to t h e
monetary affairs of Austria during 1883 5 also, under date of July 30,
1884, a dispatch from the secretary of foreign affairs of Hungary,
COINAGE, 1883.
Description.
Value.
A T VIENNA MINT.
Florins.
Gold
Silver
2, 931,514
6, 824,102
Value in
United States
money.
$1,166, 742 57
2,715,992 60
AT KHEMNITZ MINT,
Gold....
Silver
,
2,481,528
7, 040, 776
987, 648 00
2, 802, 229 00
214
REPORT
ON T H E
FINANCES.
IMPORTS AND EXPORTS OE AUSTRIA.
1883.
Exports.
Imports.
Gold
Silver
Total
Florins.
13, 317, 500
6, 374, 044
$5, 300, 365
2, 536, 869
Florins.
1, 871, 950
175, 290
$745, 036
69 765
19, 691, 544
7, 837, 234
2, 047, 240
814, 801
PRODUCTION" OF AUSTRIA AND HUNGARY.
1883.
Value.
AUSTRIA.
Kilograms.
Gold
Silver
-
Valuein
United States
money.
12
32, 000
$7, 975
1, 330,144
1,626
16, 708
1, 080, 640
694, 501
HUNGABY.
Gold
Silv er
The amount in treasury was:
Value.
D e c e m b e r 31, 1883.
Gold
Silver ?
Florins.
2, 334, 619
9, 546, 463
.
Value in
United States
money.
$929,178
3, 799, 492
The amount in Austro-Hungarian Bank was:
D e c e m b e r 31, 1883.
Value.
Florins.
11, 682, 053
121, 696, 815
Gold
Silver
Value in
United States
money.
$30,917,457
48, 435, 332
The amount in circulation was:
D e c e m b e r 31, 1883.
Value.
State notes
Austro-Hungarian Bank notes
Total
i.
Value in
United States
money.
Florins.
350, 951, 770
. 380,457,420
$139, 678, 804
151, 422, 053
- ,731,409,190
291,100, 857
215
DIEECTOR OP THE MINT.
NETHERLANDS.
Minister William L. Dayton furnishes, under date of March 19,1884,
information relative to the monetary affairs of the Netherlands for 1883.
The imiDorts and exports were:
1883.
Imports.
G o l d coin
Gold bars
"Silver coin
Silver bars
-
Total
:
Exports.
Florins.
23, 666, 371
4, 676,173
1, 656, 884
646, 760
$9, 513, 881
1, 879, 821
666, 067
259, 997
30, 646,188
12, 319, 767 58
14
55
37
52
Florins.
465, 000
734, 000
276, 757
$186, 930 00
295, 0o8 00
111,256 31
1, 475, 757
593, 254 31
The amount in treasury and banks December 29, 1883, was:
Value.
Description.
Gold
Silver
Florins.
23, 695. 395
93, 606, 388
.
Value in
United States
money.
$9, 525; 548 79
37, 629, 767 97
The araount in circulation was:
Description.
Value.
Florins.
9, 420, 530
187, 719,110
B a n k notes
Value in
United States
money.
$3, 787, 053 06
75, 463, 082 22
DENMARK.
Minister Hoffman, under date of March 14,1884, transmits a note from
the minister of foreign affairs of the kingdom in relation to the imports,
-exports, and circulation of that country: •
Value.
1883.
/
S!mports ( g o l d ) .
E x p o r t s (gold)
.
-
-
- -
Value in
United States
money.
Crowns.
29, 000, 000
25, 000, 000
$7, 772, 000
6, 700, 000
49, 000, 000
3, 500, 000
13,132, 000
938, 000
3, 000, 000
15, 000, 000
75, 000, 500
804. 000
4, 020, 000
20, 234, 000
AMOUNT IN BAKKB DECEMBER 31, 1883.
'Gold
. 'Silver.
..
AMOUNT IN CIRCULATION.
<3-old
Silver
Bank notes
216
REPORT ON THE FINANCES.
S W E D E N AND NORWAY.
W. W. Thomas, jr., TJnited States minister at Stockholm, forwards,
under date of October 26,1883, statistics of lN"orway and Sweden forthe
year 1882, and under date of September 3, 1884, for the year 1883. The
coinage of Sweden for the vear 1882 was : gold, 60 kilograms ($39,876) ^.
silver, 426 kilograms ($17,707.) In 1883: gold, 657 kilograms ($436,619);
silver, 934,583. crowns ($250,468).
The imports and exports were :
Imports.
Exports.
Description.
Kilograms.
Value.
Kilograms.
Value.
1882.
Gold coin
Gold b u l l i o n
S i l v e r coin
Silver b u l l i o n
..
1, 677 $1,114, .534
853 ,
566,903
1,379
57, 321
350
14, 548
..
.
Total
4; 259
1, 753, 306
*1,410 274
687
*2, 742, 916
315
377, 953
456, 580
735,101
13, 094
5
$3, 323
937
38, 948.
942
42, 271
*46, 700
12, 515-
*123,175
33, 010
1883.
Gold coin
Gold b u l l i o n
Silver coin .
S i l v e r bullion
j
•- -
Total
1, 582, 728
45, 525"
* Crowns.
The production of the raines was, in 1882, gold, 17 kilograras, $11,298;
silver, 1,500 kilograms, $62,350. In 1883, silver, 1,583 kilograms,
$65,800.
The amount in treasury and banks December 31, 1882, was, gold^
21,322,606 crowns ($5,714,458); silver, 3,617,776 crowns ($969,564). In
1883, the gold was 20,061,401 crowns ($5,376,455). In silver, 3,121,344
crowns ($836,520).
The circulation at the close of the year 1883 was :
Value.
Gold
Silver
B a n k notes
.
- .. .
.
.-.
. .
,°.
Croions.
5, 500, 000
11, 000, 000
88,146, 612
V a l u e in
Uuited States
money.
$1,474, OOO
2, 948, 000
23, 623, 292
The coinage of Norway in 1882 and 1883 was:
Value.
Value in
United Statea
money.
1882.
Croivns.
Gold
Silver
260, 000
$69, 680
719, 060
140, 000
192, 708
37, 520
1883.
Gold.
Silver
.
DIRECTOR OF THE MINT.
217
The imports and exports of gold and silver 1882 and 1883 were:
Value in
United States
money.
Imported
Imported
. Exported
Exported
in
in
in
in
1882
1883
1882
1883
$207,
184,
72,
112,
708
l'B2
360
560
The production ofthe mines was, silver, 5,893 kilograms ($244,954) in
1882, and 5,645 kilograms ($234,645) in 1883.
The Bank of Norway held, December 31,1882, the following amounts :
Gold, 22,458,560 crowns ($6,018,894); silver, 147,000 crowns ($39,396).
In 1883, gold 22,974,660 crowns, ($6,157,208), and in silver, 147,(l0O
crowns ('$39,396).
There was in the treasury December 31, 1882, silver, 586,150 crowns
($157,088). Same date, 1883, gold aud silver, 646,670 crowns ($173,308).
The circulation in 1882 was 4,224,000 crowns ($1,132,032). In 1883,
4,258,000 crowns ($1,141,144), all in silver. Of bank notes there were
40,578,700 crowns ($10,875,091) in circulation in 1882, aud 40,955,600.
crowns ($10,976,100) in 1883.
'
Mr. G. H. Heap, charge d'aff'aires ad interim^ transmits under date of
June 6, 1884, a paper giving valuable information in relation to the
monetary affairs of that Empire.
Value in
piasters.
Gold coined in 1883
,
S i l v e r eoined in 1883
Gold i n b a n k s D e c e m b e r 31,1883
S i l v e r in b a n k s D e c e m b e r 31, 1883 . . .
iPaper o u t s t a n d i n g D e c e m b e r 31, 1883
Government
Imperial Ottoman Bank
30,
1,
80,
250',
560,
000,
000,
000,
000
000
000
000
160, 247,186
31, 025, 000
V a l u e in
United States
money.
$1, 344, 640
44, 000
3, 520, 000
11,000,000
OO
00
00
OO
7, 050, 876 18
1, 365,100 OO
B. H. Furulijelin, under date of Noveraber 1, 1883, writes from Helsingford in Fiulaucl, in relation to the production of Lapland in 1883,.
and also furnishes an official statement of the production of Eassia, by.
years, since 1822.
The pro,duction of Lapland for 1883 he states to have been, gold,
10 kilograms ($6,646), or about one-half of that of 1882.
PRODUCTION OF RUSSIA.
Description.
Gold (1881)-..
S i l v e r (1881)
Gold (1882)..
S i l v e r (1882)
Value in United States
money.
$24, 371, 343
332,108
23, 867, 935
323,427
48
40
31
50
218
REPORT ON THE FINANCES.
Hon! S. G. W. Benjamin, minister resident and consul-general at
Teheran, furnishes under date of May 19, 1884^ statistics of the coinage and production of Persia in 1883. Gold coinage, 21,000 tomans
($47,117.70); silvercoinage, 270,000 tomans ($605,579). Gold production, 26 grams. He estimates the coin in the treasury at $24,000,000.
Minister Bingham, under date of June 21, 1884, forwards a communication from the minister of foreign affairs of the Japanese Erapire,
giving statistics of production, coinage, &c., for the year 1883; the
coinage was, gold, 1,109,935 yens ($964,533.51); silver, 8,727,490 yens
($7,584,188.81.)
The iraports and exports were :
Description.
Imports.
Exports.
•
<3-old
Silver
-
--
Total . .
Tens.
558
5,112, 409
$484 90
4, 442, 683 42
Yens..
1, 009, 570
2,196, 640
$877, 316 33
1, 908, 880 16
5,112, 967
4, 443,168 32
3, 206, 210
2,786,196 49
The production of the raines was, gold, 5,807 ounces; silver, 273,508
ounces.
The amount of gold and silver coin held by treasury aud banks and
in circulation December 31, 1883, was :
WTiere b e l d .
4&old:
.
In treasurj
In banks
Incirculation
Value.
,'
i
..
-
.
--
.
.
^-
. .
Total
$8, 040, 751
512, 261
83, 446, 443
91,999,455
Tens.
^Silver in treasury
In banks
In circulation
Total-.'
Value in
United Statea
money.
16, 834, 498
6,104, 469
28, 077, 963
$14, 629,178 76
5,304,783 56
24, 399, 749 85
51, 016, 930
44, 333, 712 17
The amount of notes in circulation was— Character.
'G'Overnment
Bank. ...
-.
Total
.
...
V a l u e in
yens.
Value in
United States
money.
97, 999, 277
31, 357, 563
$85,161 371 71
27, 249, 722 25
120,356,840
112,411,093 96
DIKECTOR OF T H E
219
MINT.
MEXICO.
A number of communications have been received from Minister Morgan, principally in relation to the loans of the Mexican Government.
Uuder date of March 3,1884, he forwards a dispatch from the department of foreign relations, containing data in regard to the production,
coiuage, &c., of Mexico for the fiscal year ending June 30, 1882.
Description.
Coinage .
Exports .
Gold.
Silver.
$407, 600
1, 027, 803
124, 083, 921
28, 600, 854
Production, based on reports of raints and custom-houses: Gold,
$955,639.23; silver, $29,568,576.96.
Minister Langston, under date of March 7, 1884, informs the Department of the particulars of a law passed by the Corps Legislatif of Hayti
for the issue of 1,000,000 gourdes ($965,000) of paper raoney, the rederaption to take place inside of three years, guaranteed by 30 per cent,
ofthe tax on imports, to be set aside annually for that purpose:
U N I T E D STATES O F C O L O M B I A .
Hon. William L. Scruggs, minister resident at Bogota, forwards, under date of March 31, 1884, statistics of coinage, &c., of that Kepublic
for the calendar year 1883. The coinage of silver was $699,114. Imports
of gold were $4,340; of silver, $346,320. Exports of gold and silver,
$2,400,083.
Productionof the mines in 1882:
Oold
Silver
:
,
Total
P , 856, 000
760,000
4,616,000
Bank notes outstanding December 31, 1883, $1,097,830.
SALVADOR.
Mr. Frank H. Titus, under date of October 22,1883, forwards a paper
from the minister of foreign affairs of the Eepublic of Salvador iu relation to the production, imports, exports, and circulation of that Eepublic, and also of Honduras, for the year 1882.
Salvador.
T h e production of gold and silver
:
Imports (coined money)
Exports
National noi^s outstanding December 31, 1882
International Bank of Salvador, December 31, 1882
$804, 034
31.3,194
920,235
1,589, 861
420, 000
Honduras.
Silver coinage 1882 (in 10 and 50 cent pieces)
$76, 314
Exports of silver bullion
E x p o r t s of silver coin
42, 028
227,955^
Total
269,983
220
REPORT ON T H E
FINANCES.
Minister Gibbs, under date of February 20,1884, forwards a very interesting paper in relation to the production, coinage, exports, &c., of
that Eepublic. He gives the export of silver bars and metal in 1882j,
as 19,996,347 bolivianos ($16,117,055.68).
The production of the mines he estimates at about 15,900,000 .ounceS;
of silver annually.
The silver coiuage in 1882 was 2,090,404 bolivianos ($1,684,865.62)5,
and in 1883 about the same.
The national bank uotes outstanding on the 31st December, 1883, were
1,871,629 bolivianos ($1,508,532.97).
ARGENTINE
REPUBLIC.
Minister Thomas O.' Osborn, under date of August 7, of this year^
forwards a reply to the interrogatories of the Department in relation to
the coinage, production, &c., of that Eepublic during the caleudar year
1883.
The coinage of gold was $4,530,210, and of silver $1,715,445. The imports were: gold,$5,576,999; silver,$836,684. Exports: gold,$2,875,835,silver, $2,^506,704. The amouut of gold and silver money iu active circulation he estimates to be $6,523,645.58, and in the banks $14,196,461.24^
a total of $20,720,106.82. The issue of bank notes he reports as
$50,651,850.76.
• VENEZUELA.
Hon. Jehu Baker, minister at Caracas, under date of December 31,
1883, furnishes replies to the interrogatories o'f the Department relative
to the affairs of that Eepublic.
Circulation, Decemher 31, 1883.
Value in
bolivars.
Description.
Coin
Banks
11, 000, 000
2, 900, 000
.'
V a l u e in
United States
money.
$2,123, OOO
559, 70O
Gold production 1882 (exports), 125,548 ounces.
Exports 1882, 3,011,730 bolivars ($581,263.89).
Population, 1881, 2,675,245.
In the absence ofthe Miuister, Hon. Thoraas A. Os]born, Mr. Charles
B. Trail forwards, under date of June 6, 1884, inforraation in relation
to the raonetary affairs of Brazil for 1883, obtained in part from official
sources and in part from publications, &c.
Coinage from March 1, 1883, to Fehruary 29, 188i.
V a l u e in
milreis.
Description.
Gold
Silver
. . .
. . . . • . . . . •
..
.
. . . . . .
96,706
43, 204
/ V a l u e in
United States
money.
$52,-801 4 7
23, 589 38
221
DIRECTO°R OF T H E MINT.
The production of gold from the five raines iu operatiou duriug the
year 1883 he states to have been 265,396 oitavas = 952 kilograms
($632,520). * , .
CIRCULATION.
Description.
IBank bills
Treasury notes
Paper money ..
Total
Value in
milreis.
Value in
United States
money.
, 21,689,300
46, 548, 500
187, 936, 661
$11,842,357 80
25,415,481 00
102,613,416 91
256,174, 461
139, 871, 255 ,71
SANDWICH ISLANDS.
Hon. Eollin M. Daggett, Uuited States minister at Honolulu, forwards, under date of February 15, 1884, an address from the chamber
of comraerce to the minister of finance, asking that no further introduction of Hawaiian silver be allowed, without a withdrawal of other silver coins, and also under date of February 27, 1884, a reply to the interrogatories of the Department relative to the monetary affairs of that
Kingdom, as well as some valuable views in regard to the affairs of
those islands.
^
.
Imported during 1883 :
Gold coin
"...
Silver coin
O o l d : In treasury December 31, 1883
In banks, Deceraber 31, 1883
0 Incirculation, December 31, 1883
...:
iSilver: In treasury, December 31, 1883
In banks, iDecember 31, 1883
In circulation, December 31, 1883
•Government notes in circulation,, December 31, 1883
,
|35,173 87
316,564 85
263,450
'.....
95,250
191,.300
436,000
13,500
500,500
335, 000
On the 17th of last July, King Kalakaua approved an act which had
passed the Legislative Asserably of the Hawaiian Islands, which provides that frora and after Deceraber 1,1884, the gold coins of the United.
States shall be the standard of value in that Kingdom, and a legal
teuder at their nominal value for all debts, public and private; also that
the silver coins of the United States shall be a legal fender to the extent of $10. The act further provides that the gold and silver coins
of countries other than the United States and Hawaii shall be received
by the Government at their bulliou value only.
The act also provides for changing the funds of the Goyernment held
in silver into United States gold.
MONETARY STATISTICS OF T H E V^ORLD.
The foregoing information iu reference to the circulation of the standard coins of the various nations of the world has beeu tabulated and
used in revising the estimation of the amount and character of the total
circulation of different couutries and of the world, and the aunual increase or loss by the production, coinage, or other disposition of the
precious raetals, and the results and conclusions are brought down to
the latest dates attainable.
PRODUCTION OF THE PRECIOUS METALS IN THE WORLD,
The table showing the amount of gold and silver obtained from
the mines of different countries is presented for the year 1883 and revised for the last-two preceding years.
222
REPORT ON THE FINANCES.
The production of twenty-one countries appears, from the official
information in this and previous reports and other authorities cited, to
have been, for the caleudar year 1883,141,479 kilograms of gold, valued
at about ninety-four millions of dollars, aud 2,747,785 kilograms of
silver, valued, at the coining rate of the standard dollar, at about one
hundred and fourteen millions. This appears to be over four millions
less in gold and a like amount greater in silver than the reported production in the previous year, and results chiefly from a diminished production of gold in Eussia and the United States, ahd an increased
production in silver of about five millions of dollars in Bolivia.
1 have no late official information as to the production of gold in
Eussia in 1883, which is claimed by some to have largely fallen off
from the yield of the previous year.
WORLD'S COINAGE.
statements of the coinage in 1883 have been received from twentythree countries, which report the coiuage of gold and silver coins;
valued, at the official estimation, at $101,265,357 in gold and $113,769,901 in silver.
,
Of the silver coinage nearly onerfourth was executed by the United
States aud two-fifths by Mexico and India. In each of the latter the
silver coinage averaged about two millions of dollars per month. I^ext
in order are Spain, Brazil, and then Great Britain, which alone issued
from the London mint during the last year over $6,000,000 of silver
coin.
In the coinage of gold the United States still stands first, although
it coined a much less amount than in the preceding year. Germany
follows with a coinage of over twenty-one millions; Australia, sixteen
millions, aud Eussia over twelve millions.
CIRCULATION OF THE P R I N C I P A L COUNTRIES OF THE WORLD.
The information obtained as to the circulation of the various nations
of the world has been tabulated and will be found in the appendix to
this report. The circulation of the jpaper and specie of thirty-nine^
countries aggregates $9,991,964,524, of which $3,293,606,836 is gold and
$2,754,611,080 silver. This does uot include the brotize, copper, nickel^
or other minor token coinage in circulation.
. '
Comparing the aggregate amounts of gold, silver, and paper circulation with those stated in previous reports, it will be found that tho
statistics show a decrease iu gold and gain in silver and paper.
I have reduced the estimate of the gold circulation of Italy from
$160,000,000, the amount claimed to be in that country at the date it
resumed specie payments, to $140,000,000, the later estimate of Ottomar
Haupt.
It is probable that not sufficient allowance is made for the yearly
appropriation of gold to industrial uses, besides the wear of coins and
waste in melting and handling bullion, for the net imports of gold into
India during the year 1883 are stated to have amounted to 49,308,715
rupees ($19,033,164), while only 174,945 rupees ($67,529) were coined at
the India mints, the remainder evidently being employed for other purposes, such as ornamentation, &c.
Adding to this the amount of coin and new gold used for similar purposes in tiie United States, $13,000,000, in France, $11,000,000, and
DIRECTOR OF THE MINT.
223
Great Britain and Ireland, $10,000,000, these four countries alon^e withdrew from the raonetary stock of gold $53,000,000.
In the table of Government and bank issues and metallic reserves^,
will be,found columns showing for each country respectively, as far as.
ascertained, the character and amount of paper raoney issued in the
countries naraed and the amounts of gold and silver held by the treasuries or banks. Against the Government issues of notes amonnting to
$1,191,158,368, their treasuries held $263,000,000 of gold and $270,000,000,
of silver, a total of $533,000,000, and the banks, to protect $2,752,498,039^
'of notes, held of gold and silver a total of $1,424,000,000, being an aggregate of the bullion and coin reserves of $1,959,000,000.
From these tables an additional table has been compiled, giving the
per capita aud total active circulation of each of the countries, which
shows that after deductiug the specie held in the banks and national
treasuries, thirty-nine principal countries of the world had $8,032,39^,760
' of pai^er and specie in active use araong the people.
CONCLUSION.
In snbraitting this report I desire to acknowledge the valuable assistance of the officers in charge of the raints and assay offices, who have
proraptly forwarded reports and inforraation in regard to the operations
at their institutions, as well as the efficient aid of the clerks having
charge of the principal divisions of the business pertaining to my office,
and to comraend their industry and faithfulness in the discharge of the
duties assigned to them, and especially in the preparation and compilation of material for the annual and special reports.
I am, very respectfully,.
HOEATIO 0. BUECHAED,
Director.
Hon.
W A L T E R Q . GRESHAM,
Secretary of the Treasury,
APPEKDIX.,
to
to
I , — D E P O S I T S and PUBCHASES of GOLD and SILVEB B U L L I O N during the fiscal year ended June 30, 1884.
Mints.
. °
A s s a y offices.
Description.
Total.
PbiladelpMa. San Francisco.
Carson.
Denver.
New
Orleans.
N e w York.
Boise.
Helena.
Cbarlotte.
Saint
Louis.
GOLD.
U n i t e d S t a t e s b u l l i o n (domestic production)
TJnited S t a t e s coin
Foreign bullion
Foreiffn coin
J e w e l e r s ' b a r s , old p l a t e , & c .
$193, 653
89, 704
66, 058
15, 264
639, 504
13 $17, 906, 265
97
4, 922
29
1,763,026
45
3, 566, 641
65
18, 674
39 $1, 451, 819 72 $1, 360, 655 54
90
17
06
3, 435 83
16
Total
1,004,185 49
1, 013 28
1, 661, 709 45
23, 319, 529 68
T o t a l gold
2, 666, 908 22
23, 417, 948 16
1, 451, 819 72
1, 364,.091 37
1, 451, 819 72
1, 367, 601 10
3,509 73
98,418 48
$13,912
. 12, 702
29, 564
35, 343
$7, 061,188 89 $169,083 52 $734,269 64 $131,362 45 $10,698 05 $29, 079, 596 33
17 30
2, 285 23
83 . 152, 273 94
263,117 17
114 18
246 08
6, 023, 734 45
85 4,181,586 88
58 01
7, 856 26
9,095,461 45
89 5, 476, 076 78
952 72 32,169 65
1,864,769 26
15 1,134, 689 10
91, 523 72 18, 005, 815 59 169, 683 52 734,269 64 132, 504 66
1, 381, 765 53
883, 377 19
296 11
53, 255 27
46, 326, 678 m
1,382,778 81
2. 647, 310 96
91 523 72 20 270 95ft .^1 169 979 fi.9 734, 269 64 132, 504 66 . 53, 255 27
50, 356, 768 43
o
o
SILVER.
TJnited S t a t e s b u l l i o n (domestic production)
12, 034, 081 38
TJnited S t a t e s coin
137, 339 38
F o r e i g n bulliou
1, 251 27
F o r e i g n coin
916, 635 61
127, 632 44
J e w e l e r s ' b a r s , old p l a t e , &c-
13
95
84
69
57
958, 639 90
92 51
6, 944, 745 18
94, 169 73
1, 262 07
958, 732 41
14,135, 842 18
7, 040,176 98
958, 732 41
Gold and silver deposits and
purchases
14, 221,125 57
-r. n
-x' C (jrold . . .
1, 662, 722 73
Eedeposits^g^^,^^ ; ; ; - - - •
918,902.10
30, 264, 274 86
98,418 48
95, 431 80
Total
13, 216, 940 08
897, 767 46
Eedeposits { ^ ^ - | ! - - „ 3 21,134 64
Total silver
T o t a l g o l d a n d a i l v e r . . . 1-6, 802, 750 40
4, 849, 521
2,163
2, 065, 000
25,412
2, 646
19, 426 27 8, 063, 630
10, 083
53, 607
956, 073
32,961
93
93
01
22
16
5, 512, 480
2,219
404,313
86,230
228,116
21
39
50
07
84
2, 026 61
19, 426 27 9,116, 356 25
6, 233, 360 01
37,950 10
25, 804 73
2, 026 61
19, 426 27 9,116, 356 25
6, 297,114 84
2,033 01
22, 439 18
750 28
130 28
117 99
1 76
569 91
31, 463,113
152,031
2, 524, 742
1, 984, 365
396, 037
88
20
53
62
13
14 03
145 02
4, 535 10
22, 439 18
1, 039 61
5, 224 76
36, 520, 290 36
1, 029, 887 29
48, 207 84
22. 4.R9 18
1, 039 61
5, 224 76
37, 598, 385- 19
2,410,552 13- 1, 383, 517 64 9, 207, 879 97 24, 239,175 60 171,710 13 756, 708 82 133, 544 27
2, 265,142 72
296 11
3, 509 73
(53, 754 83
6 40
58, 480 03
82, 846, 969 02
4, 030, 089 77
. 1, 078, 095 13
1, 387, 027 37 3, 207, 879 97 26, 568, 073 15 172, 012 64 j756, 708 82 . 133,544 27
58,480 03
87, 955,153 92
30, 458,125 14 1 2, 410, 552 13
6 40
^23
O
m
I I . — D E P O S I T S of GOLD of DOMESTIC PBODUCTION during the fiscal year ended June 30, 1884.
Mints.
^
bO
A s s a y offices.
Locality.
Total.
Philadelphia. San Francisco.
to
0^ C;ilif«trnia
Colorndo
I)akot:i
T o t a l gold
Denver.
i
Alabaraa
Xflabo
Maine
Mar\ land
Michigan
Montana
!NHV)raska
IS^evada
!Ncw M e x i c o
!North C a r o l i n a
Oregon
South Caroliua
Tnuncssee
Texas
Utah
- .-.
A^ir"iiiia
Verniont
Washington Territory
TVyouiiug
Hefined gold
Other sources
Carson.
$1,105
2, 587
2. 459
10, 727
60
45
959
14
49
22
14
00
51
76
101, 401 04
56, 49n 77
HBO 32
,
2,783 18
110 88
Eois6.
Helena.
Charlotte.
SaintLouis.
$254 55
$50 626 55
237, 252 50
6,505,944 18 " $ i 6 3 , 3 9 2 95
$1, 346, 947 69
503,834 35
7, 658
7. 828
1,121,(521
3, U4t! 228
51,456
124, 959
68
26
45
•i}5
32
44
10
635, 852
156
91, 211
40,460
5, 759
87
84
07
68
61
74
$132 48
1,795 76
$52, 750 86
$131,411 39
$28, 208 37
r------
706, 061 27
350 75
• *
"...
1,158 86
[N'ew Y o r k .
49, 873 02
591, 024 30
3, 874 72
1,288,426 77
' " " ' i 3 , 7 0 7 85
403, 852 95
90 09
8, 328 97
34, 569 08
38, 272 13
43, 992 54
97 86
21,700 83
48, 565 50
2, 857 84
49 97
21, 094 83
4,017 77•
9f7 70
5, 560 51
193,653 13
29, 68-)
• 2S7
9, 477, m o
30, 244
13
66
27
07
17,966,205 39
1, 855, 059 50
1,45.1,819 72
1, 360, 655 54
7, 061,188 89
169 683 52
"-^4. 9fiQ M
131, 362 45
10, 698 05
^ $254 55
50 626 55
244,911 18
6, 738, 403 01
2 472 952 39
3, 0 8, 687 87
114, 934 32
788 824 30
45 51
9o9 76
19 87
1, 392, 945 99
156 97
1 973 75'* 84
'167'773 19
96 819 59
442, 505 40
46, 775 72
110 88
.97 ^6
70 272 33
2,907 81
21,094 83
29,680 13
- 4, o(i5 43
11,333,973 47
35 r04 58
O
O
o
'
29, 079, 596 33
'
to
w n . — D E P O S I T S of S I L V E B of DOMESTIC PBODUCTION during the fiscal year ended June 30, 1884.
g
A s s a y offices.
Mints.
Total..
Locality.
Philadelphia. San Francisco.
Alabama
A l a s 'ia
Arizona
Califoruia
Colorado
Dakota
(ireorgia
Idaho
'.
Michigan
Montana
Nebi'aska
Isl^ovada . :
N e w Mexico
N o r t h Carolina
Oregon
South Carolina
Teunessee
Texas
Utah
Yermont
Virginia
AVashiugton T e r r i t o r y
Wyoming
Refined silver
Other sources
Total silver
Carson.
Denver.
NewOrleans. New York.
Boise.
Charlotte. Saint Louis.
Helena.
$1 91
^
$42
684
21
47
15, 348
12, 907
8
02
70
96
63
13
88
11
82, 314
324
7
46
79
13
14
83
40
$517 55
807, 830 38
597, 582 15
57, 395
525
159, 836
77, 334
325
67, 901
17,869
1, 904, 512
2
5, 890
195,212
70
$16, 865 95
$19,426 27
53, 259 55
'
106, 832 93
2, 390, 551 30
.5,514 97
941,773 95
4,312 88
24
13
37
15
62
19 $1, 571 03
29
59
42
24
71
97
455 58
$1 30
56 99
•
$236 39
$260 86
1 55
22,178 32
j
12
58 03
272 42
241 47
394 04
227, 609 40
$2, 005 57
1. 731, 271 60
6 44
12 84
25 02
11, 921, 280 83
1, 008 97
285 65
1 74
458, 374 33
196, 453 36
12, 034, 081 38
4, 849, 521 13
8, 061, 625 36 . 1, 294, 324 34
958, 639 90
19, 426 27
8, 063, 630 9 .
5, 512, 480 21
2, 026 61
22, 439 18
750 28
117 99
$1
517
225
016
004
356
609
138, 342
30,777
2, 033, 531
2
3, 338, 215
283, 100
667
4, 775
288
91
55
62
55
33
11
64
31
17
95
42
61
50
52
60
30
40
2, 400 51
1,958,88100
6 44
12 84
285 65
26 76
21, 735, 604 86
197, 462 33
865,
615,
180,
77,
31, 463,113 88
W
t?d
^
O
W
. H
*
P
^
H
g
K
^
2
S
S
^
Q
^
^
-
I T . — C O I N A G E E X E C U T E D during the fisoal year ended June 30, 1.884.
Philadelphia.
New
C a sou.
San Francisco.
Total.
Orleans.
Denomination.
Yalue.
Pieces.
Yalue.
Pieces.
Value.
Pieces.
Value.
Pieces.
Pieces.
Yalue.
-
GOLD.
Double-eagles
Eagles
Hait-eagles
Three dollars
Quarter-eagles
Dollars
.
.
54
139, 298
273, 046
985
1,972
9,979
...
Total gold
425,
$1,
1, 392,
1, 365,
334
080
980
230
2, 955
4, 930
9, 979
00
00
00
00
00
00
2, 777,154 00
1,123, 000
45, 250
126, 200
$22,
460,
452,
631,
COO 00
5U0 00
000 00
.
65,'241 $1,304,820 00
187, 560 00
18, 756
119, 790 00
23, 958
1,188, 295 $23, 765, 900 00
2,033,040 00
203, 304
2,116, 020 00
• 423, 204
2, 955 00
985
4, 930 00
1,972
9, 979 00
9,970
.
1, 294,
450
23,
543,
500 00
107,
1, 827,
1,612,170 00
955
739
27,
932,
824 00
Total silver
Total minor
T o t a l coinage
W
K
O
13,
230,
930
8,930
15, 330
6,151, 603
19,
406,
15,
374,
793
13,
13,
230,
930
4, 465
3, 832
615,160
00
00
50
30
854,
387 80
708,
745 25
244 86
719 62
4, 800,
000
500,
000
5, 300,
000
4, 800,
50,
4, 850,
000 00
000
1,164, OOu 00
1,164, 000
b, 905,
000 $8,
905 000 00
099,
2S,
00
00
50
30
o
34,
775,
28,7.73,387 80
H-
15,
:i74,
28,
00
000 00
1,164, UOO
1,164, 000
00
8. 905,
000
8, 905 000 00
930
8, 930
15,330
6, 651, 603
793
099,
930
4, 465
3,882
665,160
^
,
t=^J
MINOR.
Five cents
T h r e e cents
One cent
HH
O
SILVER.
Dollars
Hall-dollars
Quarter-dollars
Dimes
-
M
H-l
40,
905
8,162
571, 962
55,
955,
75,
405,
029
787,156
i
1,174, 709 73
17,
806,
251
53
6, 594,
450
28,
393,
500
00
1,271,955
2, 776,170 00
1 - - - - : - - - . , - . ....
8,905,000
8, 905 000 00
40,
905
8,162
571, 962
55,
955,
029
92,
558,
561
708,
745 2 5 '
244 {-6
405,719 G2 .
1,174, 709 73
57,
880,
921 53
to
t4)
to
to
oo
Y.—COINAGE E X E C U T E D dimng the calendar year ended Decemher 31, 1883.
Pieces.
Yalue.
Pieces.
Yalue.
N e w Oiieans.
Carsou.
San Francisco.
Philadelphia.
Pieces.
Yalue.
Pieces..
Value.
Total.
Pieces.
Value.
GOLD.
Double-eafj"les
Fault's
Haif-eao'les
T h ree doll?\ r s
Qu artCT'-ea ""Ies
D o l l a r s . .?
..
T o t a l «old
...
40
208, 740
233,440
940
1, 960
10, 840
$800
2, 087, 400
1,107, 200
2, 820
4. 900
10, 840
00
00
00
00
00
00
1,189, ono
38, 000
83, 200
$23, 780, 000 00
380, 000 00
416, 000 00
455, 960
3, 273, 960 00
1, 310, 200
24, 576, 000 00
84, 020
6, 250, 000 00
1, 204, 000
59, 962 $1,199,240 00
12, 000
120,000 00
12,958
64, 790 00
.
1, 249, 002 $24, 980, 040 00
2 595 400 00
259, .540
329, 598
1, 647, 990 00
940
2, 820 00
1,900
4 900 00
10, 840
10 840 00
800
$8, 000 00
1, 384, 030 00
800
8, 000 oo"
1, 851. 880
1,204,000 00
8, 725 000
8, 725, 000 00
28, 470, 039
9, 039
15,439
7, 675, 712
SILVER.
Dollars
Half-(lollar<^
Quarter-dollars
Dimes
Total silver
O
12,291,039
9, (i39
15, 439
7, 675, 712
12, 291, 030
4, 519
3. 859
767,571
00
50
75
20
6, 250, 000
19,991,229
13, 066, 989 45
6, 250, 000
6, 250, 000 00
1, 204, 000
1, 204, 000 00
MINOR.
8, 725, 000
•
22, 969, 421
10, 609
45, 598,109
One cent
8, 72-5, OOG 00
28, 470. 039
4 519
3 859
767, 571
00
50
75
20
• 36,170, 229
29, 24.5, 989 45
22, 969, 421
10, (i09
45,598, 109
1,148,471 05
318 '>-7
455, 981 09
°
\
68,578,139
1,004,770 41
89, 025, 328
17, 945, 719 86
.
11
7, 560, 200
30, 820, 000 00
1,288,920
2, 588, 030 00
8, 725, 800
W
5^
1,148,471 05
318 27
455, 981 U9
1
T o t a l coinage
o
29, 241, 990 00
8, 733, 000 00
68, 578,139
1,604 770 41
106, 600, 248
60, 092, 749 86
O
Yl.—BABS MANUFACTUBED during the fiscal year ended June 30, 1884.
A s s a y offices.
Mints. -
Total.
Description.
.Philadelphia.
San
Francisco.
Carson.
Denver.
New York.
Boise.
Helena.
Chariotte.
Saint
Louis.
GOLD.
Finebars
.
Standard bars
...
.
.
$521, 095 65
Sterliuff b a i s
Miut bars
.
..
521,095 65 i
5 450
64.11
$169, 979 63 $734, 269 64 $132,504 66
$1,367," OOl" i o '
$13, 682, 546 36
1, 388, 946 66
2, 463, OUO 94
613.234 34
5, 727, 797 27
53, 255 27
23, 875, 585 57
6i3."234'34
5, 727, 797 27
......
T o t a l gold
$53," 255'27'
$13,161,450 71
1, 388, 946 66
$.5,450 64
1, 367, 601 10
20,891,428 98
169, 979 63
734, 2G9 64
132, 504 66
H
SILVER.
Fiue bars
Standard bars
Sterlinsr b a r s
Mint bars
. .
48, 270 10
.....
.
•
. . .
6,012 61
1, 234, 578 69
61 37
6,081,756 65
37,163 64
19,426 27
. . .
54, 282 11
..
'
2, 033 01
22, 439 18
1, 039 61
. 5, 224 76
181,719 13
Total silver
T o t a l gold a n d .silver
o
....
7, 364, 605
37,163
*50, 224
6 012
181 719
44
64
20
01
13
1, 234, 640 06
19, 426 27
6, 300, 639 42
2, 033 01
22,439 18
1, 039 61
5, 224 76
7, 639, 724 42
~575r377"76~ 1, 240, 090 70
1, 387, 027 37
27,192, 068 40
172,012 64
756, 708 82
133,544 27
58, 480 03
31, 515, 309. 99
o
o
w
to
CO
YII..—BABS_ MANUFACTUBED during the calendar year ended Decemher 31, 1883.
oo
O
A s s a y offices.
Mints.
Description.
San
Francisoo.
Philadelphia.
Carson.
Denver.
N e w York.
Bois6.
Helena.
Charlotte.
Saiut Louis.
Total.
GOLD.
$14,551,225 65
1,903,147 41
"$591, 360 73
Fine bars
$i, 362, i69 00
Unparted bars
Sterliuo" b a r s
Mint bars
$178,620 58
^764, 950 27
$113, 846 68
178. 620 .58
764, 950 27
113, 846 68
$39, 664 09
1, 04.5,131 27
6, 037, 497 45
$15,142,586
1,903,147
2,459,191
1,045, 131
6, 037, 497
38
41
22
27
45
•
•
T o t a l gold
•
••
1, 302,109 60
591, 360 73
23, 537, 001 78
39, 664 09 1
26, 587, 553 73
•
111, 855 39 .?1, 695, 973 21
10, 822 71
5, 832, 678 69
$17,131 66
22, 878 22
2. 219 56
17, 560 80
.. .
Total silver
122,678 10
T o t a l gold a n d s i l v e r .
714, 038 83
H
O
fe5
SILVER.
Fiue bars
Steiliug bars
Stfiudard b a r s
Unparted bars
M i n t baf'S -. -
O
28, 567 39
935 89
7, 476 91
111, 644 06
1
1, 695, 973 21
17,131 66
17,560 80
5, 967, 200 97
1,695,973 21
17,131 66
1, 379, 670 40
29, 504, 202 75
""
2, 219 56
28, 567 39
935 89
180, 849 14
793, 517 66
114, 782 57
7, 476 91 1
47,141 00
7, 657, 638
10, 822
22,878
56,760
111, 644
95
71
22
55
06
7, 859, 744 49
34, 447, 298 22
o
Vilt.—SfAtEMENf
of EABNINGS and E I P E N D I T U U M of t^ie UNITED STATES AltNTS and ASSAY OFFICES for ihe fiscal year ended
June 30, 1884. •
EARNINGS AND GAINS.
,
-^ -
A s s a y offices.
Mints.
Total.
Sources.
. Philadelphia.
SanFrancisco.
N e w Orleans.
Carson.
New
York.
Denver.
•
Boise.
Charlotte.
$214 92
$223 27
Helena.
Saint
Louis.
•
$11, 404- 45 $134, 106 25
636 20
2, 716 45
$105, 609 03
3, 522 95
$738, 63 $16, 630 97
1,145 16
292 58
$i,"778'79'
Profits; on s t a n d a r d ailver d o l l a r s c o i n e d
Profit<» on s u b s i d i a r v s i l v e r coined
1,852,718
92, 798
982, 785
-2, 502
482
R e c e i p t s from a s s a y s ot" o r e s a u d b u l l i o n
2, 052
D e n o s i t m e l t i n g room fluxes a n d s w e e p s
.
. .
1,466
S u r p l u s bullion r e t u r n e d b y m e l t e r a n d r e f i n e r s . .
G a i n ou b u l l i o n s h i p p e d t h e m i n t for c o i n a g e
86
P r o t i t s on l e a d y m e l t s sold
250
Charges receivedfrom Hawaiian Government....
66
46
66
17
00
01
65
111 50
1,006 83
15, 896 89
54 00
425 60
•-•2, 527 76
• 186 00
287 64
204 00
975 33
563 50
4,748 77
40, 472 94
1,908 70
03
2, 236 62
'19206
94 49
'332'33
19 45
249 86
536 08
65 87
1 71
00
2, 947,182 89
Total
697;579 80 1,247,669 69 168, 704 51
9, 852 69
17, 500 00
881, 007 03 ' l . 2.52 560 84 ll80 167 Fxl
4, 866 82
154, 918 90
751 27 1, 111 13
$268, 489
8, 313
3, 240
3, 966, 672
102,651
982,785
2, 502
3, 590
i," 180'66 "285 66'
10, 143
75 32
457 76
60, 364
236 31
4,209
1, 2"8 38
2, 388
1
17,750
$943 23
3, 859 37
$80,19
33
34
40
66
15
66
17
33
80
24
33
52
71
00
w
o
H..
Q
o
676 82 5, 433,102 64
'
E X P E N D I T U R E S AND LOSSES.
fe!
S a l a r i e s of officers a u d c l e r k s
..
...'
W a g e s of w o r k m e n a n d a d j u s t e r s
C o n t i n g e n t e x p e n s e s , n o t i n c l u d i n g a m o u n t i3aid
P a r t i n g a n d refining
expenses,
not
•
31,873 10
93,750 95
29, 050 00 10, 9.50 00
70, 310 75 12,000 00
118,980 26
52,175 63
44,909 83
22, 302 95
10, 309 27
6,713 05
3, 031 13
129, 890 75
19,218 57
6, 384 26
10, 913 23
1,893 25
29,131 69
29,152 32
198 22
15, 998 57
11,052 69
596,864 82
503, 572 53
5,507 84
39,250 00 3,000 00 2,7.50 00 7, 950 00 3, 500 00
312 75 11, 389 55 1, 382 50
23, 038 50 3,646 68
8, 685 16 1, 326 66 1, 661 20 . 7, 998 93
456 01
inclading
T o<i<5 on s w e e o s of t h e ' v e a r
L o s s on b u l l i o n s h i p p e d t o t h e m i n t . . . .
E x p e n s e s of d i s t r i b u t i n g s i l v e r c o i n s
Total
43, 400 00
230, 504 75
40, 503 18
358, 845 70
5, 290 48
55 82
...
- -
83, 071 89
20, 845 47
3, 756 63
1, 640 90
194,393 05 '147,906 70 28, 513 66
i
•
* BulUon belonging to iirevious years.
41 66
212, 226 28
811,182 13
264, 004 47
244,117
40,601
16, 599
97
57,823
29,152
• 198
38
48
12
48
85
32
22
159, 336 03 7, 973 34 |4, 723 95 27, 338, 48 |5, 380 17 1, 676, 002 73
to
232
REPORT ON T H E
FINANCES.
.IX.—iMEDALS MANUFACTUBED at the MINT at P H I L A D E L P H I A during the
fiscal year ended June 30, 1«84.
Names.
Adams Academy
A m e r i c a n H u m a n e Society
A m e r i c a n P o m o l o g i c a l Society
Ainidon
Array department prize
A r m y division (tirst prize)
A r m y division (secontl prize)
A r m y division ( t h i r d prize)
A r m y marksriauvship (fir.st prize)
A r m y m a r k s m a n s h i p (second prize)
A r m y m a i ' k s m a u s h i p ( t h i r d prize)
A r m y skirmish prize
A r t h u r , C h e s t e r A. ( P r e s i d e u t )
A r t h n r , Indian peace
B a l l i m o r e F e m a l e College ....,,
Bicycle club
'.....
Bridge
Browu memorial ..
•=-.
Charleston celebration
C i n c i n n a t i , S o c i e t y of t h e
Davis
D e n m a n School
D e p a r t m e n t of S t a t e
De})artment skirmish prize
Divi.si<ui s k i r m i s h x^rize
Dodd, H M
Elliott
Emancipation
Field, C\ r n s
F r a n k l i n School
Garfield, l u d i a n peace
Garfield, J a m e s A. ( P r e s i d e n t )
Genflemen's Driving P a r k
G e o r g ( d o \ \ n College
Giaut, Indian peace
Hayes, Indian peace
Horn, John
J a c k s o n , A. (President)
Johnson, Andrew (President)
K n i g h t Templar pilgrimage
" Let us have p e a c e "
.Life-saving
L i n c o l u a n d Garfield (small)
.
L i n c o l u G r a m m a r School
McKee
M a r i s family b i - c o n t e u n i a l
Massachusetts Horticultural Society...
M a s s a c h n s e t t s H u m a n e Society
'
M i c h i g a n S t a t e A g r i c u l t u r a l Society . . .
M i d d l e s e x , Sonth, Agricultnivil S o c i e t y .
Monroe, J a m e s (President)
N e w E n g l a n d A g r i c u l t u r a l Society
Norm.'^n
;...
Panline.
P e n n s y l v a n i a H o r t i c u l t u r a l Society
P e n n s y l v a n i a volunteer's
Perry, Captain .
P h i l a d e l p h i a College of P h a r m a c y
P h i l a d e l p h i a riflo c l u b
Pierce, Eranklin (President)
P o l k , J a m e s K. ( P r e s i d e n t )
Rumford. .i
Schuylkill navy
Scott, G e n e r a l
S a i n t Louis A g r i c u l t u r a l a n d M e c h a n i c a l A s s o c i a t i o n .
Stoddard
Suydam
,
-.
" Time increases his f a m e "
Toi-outo s e m i - c e n t e n n i a l *
Union League .
WMshingt' n a n d L e e U n i v e r s i t y
WiflC/onsin S t a t e A g r i c u l t u r a l S o c i e t j '
Wood, A r c h b i s h o p
Total.
'' Goloid p l a n c h e t s f u i n i s h e d .
Gold.
Silver.
20
10
100
20
Bronze.
DIRECTOR
OF
THE
MINT.
233
X . — M E D A L S and P B O O F S E T S SOLD during the fiscal year ended June 30, 1884.
Number
sold.
Description.
130 Sfi5. 645 10
Gold
598 1, 153 91 S i l v e r
3,264
561 75 • M i n o r
....
3,992
Total.
7, 360 76
.^
...
Total
No pattern pieces or sets were sold during the year.
charge of $20.
36
925
3,157
$1, 548 00
3,011 40
490 32
4,118
5, 049 72
Ten thousand goloid medals were struck, ab a
:Ki.—COINAGE and M E D A L D I E S M A N U F A C T U B E D at the M I N T at
D E L P H I A during the fiscal year ended June 30, 1884.
Denomination.
F o r Philadelphia.
^
F o r gold c o i n a g e :
Double-eao-le
Eagle
T
H a l f ea olo
Three-dollar
D o l l a r . . .'^.
'..
Total
F o r silver coinage:
Dollar
Half-dollar
Quarter-dollar
Dime
Yalue.'
P R O O F SETS.
MEDALS.
Gold
Silver
Bronze
Number
sold.
Description.
Value.
.
Total
F o r m i n o r coinage
Five-Cent
Three-cent
One-ceut
Total
F o r San
F o r Carson.
Francisco.
For New
Orleans.
PHILA-
TotaL
40
20
10
10
10
9
50
35
31
2
2
12
33
-70
29
132
128
2
2
86.
80
20
60
288
2
2
96
218
90
20
60
388
5
^12
2
2
12
10
678
• 5
275
678
5
. . . 275
958
958
TOTAL N U M B E B OF D I E S .
Gfild coinage
Silver coinage
Minor coinage
Ex])erinienta.l dies
Proof coinage
Ma-j. Gen. Edrnnnd P. Gaines.
Army n i arks man all ip
-.
Annual assay
Tofal
132
388
958
12
24
1
4
1
1,520
234
R E P O R T ON T H E
FINANCES,
KIT.—COMPABATIVE TABLE shoiving the OPEBATIONS for ihe fiscal years 1883
'
and 1884 at the COINAGE MINTS and N E W YOBK ASSAY OFFICE.
1883.
1884.
PHILADELPHIA.
^
Deposits
•
Oold coiuage
Silver coinage
Minor comage
,
- value. -
$15, 319, 070 79
$16, 802, 750 40
pieces..
do
do.-..
941, 680
18, 798. 076
60,951,526
425, 334
19, 406, 793
55, 955, 029
do....
80, 691, 282
75, 787,156
-
value....
do-...
do..-.
$7, 729, 982 50
12, 325, 470 15
1, 428, 307 16
$2, 777,154 00
13, 854, 387 80
1,174, 709 73
Total coinage.
.-..do....
21, 483, 759 81
17, 806, 251 53
do..-.
381, 508 84
280,174 78
521, 095 65
54,282 11"
661, 683 62
575, 377 76
1, 231,102
23, 403, 427
979, 842
22,187, 911
764, 264
26, 370, 821
541, 311
25, 503, 602
22
4,952
15
6, 092
value..
$35, 328,140 74
$30,458,125 14
.pieces.-
1, 357, 000
7, 350, 000
1, 294,450
5, 300, 000
Total coinage.
Oold coinage
Silver coinage
Minor coinage
Gold bars
Silverbars
do....
' Total bars
do.-..
G o l d o p e r a t e d u p o u b y m e l t e r a n d refiner . . .
Silver o p e r a t e d upor b y m e l t e r a n d r e f i n e r . . . . s t a n d a r d o u n c e s . .
O o l d o p e r a t e d u p o n by c o i n e r
do.-..
Silver o p e r a t e d n p o iI b y c o i n e r
:...do.-..
do.--.
Gold w a s t a g e of raeJ t e r a n d refiner
.0
do....
.
do..-.
Silver w a s t a g e of m elter a n d refiner
O o l d w a s t a g e of coiil e r
•do....
S i l v e r w a s t a g e of coi n e r
do..-.
IS
SAN FRANCISCO.
Deposits
Oold coinage
Silvercoinage
...do
Total coinage
:
Oold coinage
Silver coinage
do-.-.
value..
do
--.do....
Total coinage.
Gold b a r s
-Silverbars
Total bars
8,707,000
6, 594, 450
$26, 760, 000 00
7, 350, 000 00
$23, 543, 500 00
4,850,000 00
34,110, 000 00
28, 393, 500 00
do....
do-.-.
1, 246, 779 85
.5,450 64
1, 234, 640 06
do.-..
1. 246, 779 85
1, 240, 090 70
O o l d o p e r a t e d u p o n b y n lelter a n d refiner . . . - - - s t a n d a r d , o u n c e s . Silver o p e r a t e d u p o i b y m e l t e r a u d r e f i n e r . .
do-...
O o l d o p e r a t e d u p o n b y coiner
\
do....
Silver o p e r a t e d u p ori b y c o i n e r
do....
2, 671, 989
13, 974, 639
2, 651, 370
12, 628, 737
do....
do-...
do-...
do...
16, 573
134
638
16, 309
120
618
value..
$2, 766, 200 93
.$2,410,552 13
1--pieces..
104,042
1,120, 000
107, 955
1,164,000
O o l d w a s t a g e of m e t e r j i n d refiner
S i l v e r w a s t a g e of m e l t e i a n d refiner
O o l d w a s t a g e of coi l e r .
S i l v e r w a s t a g e of cc i n e r
2,
10,
2,
9,
323, 092
903, 752
329,181
779, 063
CARSON.
Deposits
O o l d coinage
Silver coinage
do
Total coinage.
Gold c o i n a g e
Silver coinage
..
Total coinage.
Oold bars
Silver bars
Total bars .
1, 224, 042
1,271,955
value..
$1,403, 945 00
1,120, 000 .00
$1, 612,170 00
1,164, 000 00
do....
2, 523, 945 00
2, 776,170 00
do..-.
do....
do..-.
do....
17,131 66
do.--.
17,131 66
235
DIRECTOR OF T H E MINT.
:K11.—COMPABATIVE TABLE shoiving the OPEBATIONS for the fiscal years. 1883
and 1884, ^-c.—Continued.
1884.
1883.
CARSON—Continued.
148,
2, 553,
160,
2, 039,
O o l d o p e r a t e d u p o n b y m e l t e r a n d refiner
.. standard ounces..
do-...
Silver operated upon b y melter a n d r e f i n e r . . . --Gold operated u p o n by coiner
--.....
do....
Silver operated upou h j coiner
do....
O o l d w a s t a g e of m e l t e r a n d refiner
S i l v e r w a s t a g e of m e l t e r a n d retinea."
•Gold w a s t a g e of coiner
NEW
186.
2, 241,
172,
2,194,
207
537
'977
355
893
395
920
569
do....
do....
do.--.
do.--.
92
660
6
366
71
1,833
6
472
value..
$8, 776, 566 66
$9, 207, 879 97
pieces..
4,300.
8, 040, 000
8, 905, 000
8, 044, 300
8, 905, 000
$43, 000 00
8,040,000 00
$8, 905,"ooo'00
8, 083, 000 00
8,90.5,000 00
ORLEANS;
Deposits
Silver coinage
do....
Total coinage
do....
Gold coinage
Silver coinage
T o t a l coinage
-..--..-
value..
do-...
do . . .
Gfdd oi>erated u p o n b y raelter a u d r e f i n e r
. standard ounces..
Silver operated u p o u b y melter a n d refiner . . .
do.-..
Gold o p e r a t e d u p o n b y c o i n e r
do..-.
S i l v e r o p e i a t e d u p o n by c o i u e r
do....
O o l d w a s t a g e of m e l t e r a n d refiner
S i l v e r w a s t a g e of m e l t e r a n d r e f i n e r
Gold w a s t a g e of coiner
S i l v e r w a s t a g e of c o i n e r
>
12, 675
13, 849;V^95
6, 378
13, 073,130
"ie,"301, 242
15,146, 418
do....
do....
do
do...-
6
1, 656
9,089
566
1,768
value..
$17, 016, 061 56
6, 592, 657 50
$20, 270, 958 31
6,297,114 84
23, 608, 719 06
26, 568, 073 15
11, 678, 319
2,19.5, 293
787, 543
1, 325,191
6,433, 097
15, 312
13,161, 450
5, 727, 797
1, 388, 946
613,234
6,081,756
37,163
N E W YORK ASSAY O F F I C E .
Oold deposits
Silver deposits
.do....
Total deposits. do-...
Gold, fine b a r s m a n u f a c t u r e d
Gold, m i n t b a r s m a n u f a c t u r e d
Gold, s t a n d a r d b a r s m a n u f a c t u r e d
O o l d , s t e r l i n g b a r s raanufactured
Silver, fine b a r s m a n u f a c t u r e d
Silver, s t a n d a r d b a r s m a n u f a c t u r e d
Silver, s t e r l i n g b a r s m a n u f a c t u r e d
"Silver, m i n t b a r s
raanufactured
Total bars manufactured
- ---..
:
--
do---do . . .
...do....
do.-..
do....
do.--.
d oo..-. . '..
do.--.
07
37
24
05
08
58
71
27
66
34
65
64
181, 719 13
27,192, 068 40
22, 434, 756 39
'KIM.—SUMMABY of the OPEBATIONS and E A B N I N G S at the D E N V E B M I N T
and C H A B L O T J E , H E L E N A , BOISE, and SAINT BQUIS ASSAY OFFICES for
the fiscal year 1884:.
Denver.
Charlotte.
Helena.
Bois6.
Oold deposits
$1, 367, 601 10 $132, 504 66 $734, 269 64 $169, 979 63
Silver deposits
19, 426 27
1,039 61
22,439 18
2, 033 01
Unparted bars manufactured
1, 387, 027 37 133, 544 27 756, 708 82 172, 012 64
C h a r g e s collected :
On deposits
1, 778 79
223 27
943 23
• 214 92
On ore assays
332 33
1,180 00
192 00
204 00
3, 859 37
Total earnings
4, 866 82
l . m 13
751 27
Total expenses ..
4, 723 95
27, 338 48
7, 973 34
28, 513 66
SaintLouis.
Total.
$53, 255 27 $2, 457, 610 30
5, 224 76
50,162 83
58,480 03
80
285
676
5,380
19
00
82
17
2, 507, 773 13
3,240
2,193
11, 265
73, 9£9
40
33
41
60
236
,
REPORT ON T H E
FINANCES.
K I V . — W A S T A G E and LOSS on SALE of SWEEPS, 1884.
San F r a n Philadelp h i a m i u t . cisco m i u t .
Losses.
M e l t e r and refiner's gold w a s t a g e . .
C o i n e r ' s gold w a s t a g e
M e l t e r a n d refiner'.s s i l v e r w a s t a g e
Coiner's silver wastage
L o s s on sale of s w e e p s
Total.
Paid as follows:
From coutingeut appiopriation. ..
F r o m p a r t i n g a n d l e f i n i n g appropriation
F r o m s u r p l u s bullion
F r o m s i l v e r profit f u u d
Total.
$338 30
282 43
6, 092 32
3,031 13
$2,238
16, 360
620
5,951
11
42
04
39
Carson
mint.
$1,333
117
1, 833
472
New
Orleans
mint.
10 I
31 '
27 j $9,135 63
95
1, 777 00
New
Y o i k ass a y ofiice.
Total.
$1, 671 40
2, 637 85
27, 329 32
8, 962 91
$5, 290 48 14,273 00
,744 18 j 25,169 96
3,756 63
2, 474 74
828 22
2. 2,55 91
16, 90:{ 72
3, 535 59
957 86
287 64
1, 682 91
.3,213 77
253 46 5, 290 48 24. 376 33
23, 981 42
10, 659 77
3, 756 63
5, 290 48
1, 641 03
8,103 15
9, 744 18 I 25,169 I
10,913 23
5, 290 48 ! 54. 874 48
3,302 96
54, 874 48
X V . — STATEMENT hij MONTHS of F I N E GOLD BABS EXCHANGED for GOLD
COIN at the UNITED S.TATES MINT, P H I L A D E L P H I A , and UNITED STATILS
ASSAY OFFICE at NEW YOBK, from July 1, 1883, to June 30, 1884.
Month.
Philadelphia.
New York.
Total.
1883.
Jnlj
$30, 091 35
45,151 96
40,128 53
50,160 41
25,080 64
30,088 14
August
Septeraber
October
November
December
$192,416 27
221,211 32
302, 897 07
242.194 36
150, 250 45
154, 774 51
$222, 510 62
266, 363 28
343, 025 60
292, 354 77
175,331 09
184, 862 65
1884,
.January
February
March
April
May
June
^
.:
19.5, 456 85
175. 384 72
20, 072 13
367, 794 71
337,710 95
30, 083 76
35,126 79 6, 896, .543 70 6,931,670 49
2.5, 077 16 16,1.53,050 19 16.178, 127 35
491, 616 32
466, 537 55
25, 078 77
151, 688 13
126, 559 06.
25, 127 07
381, 269 71 25,419,530 15
25, 800, 799 86
DIRECTOR OF T H E
237
MINT.
K Y I o — S T A T E M E N T of GOLD and SILVEB B U L L I O N and COIN on hand at the
U N I T E D STATES MINTS and N E W YOBK ASSAY OFFICE, years ending June
30, 1883, and June 30, 1884.
Gold
bullion.
Institution.
Silver
bullion.
G o l d coin.
Total.
Silver coin.
1883.
Philadelphia
San Francisco
Carson
N e w Orleans
NewYork
$26, 516, 771
973, 882
656, 043
137, 269
. 27,517,997
Total
84
33
90
21
37
55, 801, 964 65
$1, 249, 598
3, 492, 045
133, 585
17, 991
2,158, 243
00
00
00
86
82
7, 051, 463 68
$1, 381,144
800, 818
618, 239
1,141, 055
819, 018
98
46
49
47
08
$4, 699, 912
30,^875, 617
2, 039,110
7, 037, 470
92, 907
65
26
63
96
44
4, 760, 276 48
44, 745, 018 94
1, 615, 341
773, 494
439, 973
1, 319, 454
802, 522
8,159,811
33, 517, 277
2, 928, 032
11, 957, 338
11,832
$33, 847, 427
36,142, 363
3, 446, 979
8, 333, 787
30, 588,166
47
05
02
50
71
112, 358, 723 75
1884.
25, 882, 533
848, 605
494, 427
228, 794
16, 528, Oil
Philadelphia
San Francisco
Carson
N e w Orleans
New York
Total
02
08
04
85
38
43, 982, 371 37
1, 723,158
3, 654, 525
311,145
102, 560
28, 954, 556
50
00
00
00
86
34, 745, 945 36
42
46
31
27
35
4,950,785 81
93
87
12
83
09
56, 574, 292 84-
37, 380, 844
38, 793, 902
4,173, 577
13, 608,147
46, 296, 922
87
41
47
95
68
140 253,395 38
K. Y I I . — S T A T E M E N T showing the N U M B E B OF OUNCES at STANDABD and
COST of SILVEB B U L L I O N P U B C H A S E D and D E L I V E B E D at the COINAGE
MINTS, and the N U M B E B of SILVEB DOLLABS COINED E A C H MONTH from
July 1, 1883, to June 30, 1884.
Date.
Standard ounces.
Cost.
Coinage.
1883.
July
August
September
October
November
December
2, 386, 887. 31
2, 417, 322. 79
1, 752, 354.32
2, 206, 756. 77
1, 834, 924. 60
2, 328, 322. 97
$2, 374, 541
2, 401, 697
1, 740, 931
2, 204, 681
1, 829, 885
2, 321, 556
49
99
41
42
19
06
,
2,149, 818. 66
2, 111, 607. 28
2,100, 967. 41
1, 688,166. 04
1,812,815.21
1, 568, 891. 66
2,151, 392
2,132, 972
2,124, 913
1, 698, 489
1, 823, 483
1, 573, 837
61
30
91
95
68
90
Total
P u r c h a s e d a n d coined from M a r c h 1, 1878, t o J u n e
30, 1883
24, 358, 835. 02
24, 378, 383 91
•28, 099, 93a
128,782,187.25
131, 811, 676 28
147,255,809'
153,141, 022. 27
156,190, 060 19
2, 029, 902. 92
2,015,013.45
2, 031, 532 00
2,055,132 37
:
L
$2, 425, 000.
2, 340, 000'
2, 350, 000*
2, 350, 050'
2, 350, 000>
2, 354,170"
1884.
January
February
March
April
May...
June
Total
M o n t h l y a v e r a g e J u l y 1,1883, t o J u n e 30, 1884
M o n t h l y a v e r a g e for 76 m o n t h s
,
2, 350, 000'
2, 350, 000'.
2,300, 510 >
2, 300, 000'
2, 310, 000
2, 320, 200'
2, 341, 661
2, 307, 313
238
REPORT ON THE FINANCES.
ILYIM.—STATEMENT showing the PBOFITS on the COINAGE of SILVEB at the
DR.
1883.
July 1. Balance on hand:
Philadelphia
San Francisco
Carson
New Orleans
Profits on the coinage of silver doUars :
Philadelphia
San Francisco
Carson
NewOrleans
POSITION
\
,
.
$422,757 94
451,104 40
80,889 73
323, 844 52
$1,278,596 59
1,852,718 66
697, 579 80
168,704 51 '
1,247,669 69
3,966,672 66
Profits on the coinage of subsidiary silver:
Philadelphia
. SanFrancisco
92,798 46
9,852 69
102, 651 15
Total.
5,347,920 40
DIRECTOR OF THE MINT.
239
MINTS of the UNITED STATES from July 1, 1883, to June 30, 1884, and the DISof SAME.
' •
Paid expenses of distribution:
Philadelphia
SanFrancisco
Carson
NewOrleans
$29,132
15,998
1,640
11,052
29
57
90
69
$57,824 45
Paid for wastages and loss on sale of sweeps :
PhUadelphia
San Francisco
Carson
NewOrleans
«
8,103
4, 365
1, 682
12,515
;
15
98
91
00
26, 667 04
Deposited in the Treasury as foUows:
PHILADELPHIA.
WarrantNo. 997
No.2320
No.1749''.
„ ....•
$422,757 94
476,810 57
502,532 90
,
1, 402,101 41
SAN FRANCISCO.
Warrant No. 2576
No. 996
No. 859
No.1750.....
250,839
200,264
477,618
92,048
86
54
86
92
1,020,772 18
CARSON.
WarrantNo.
No.
No.
999
861
858
-
80,889 73
43,066 91
44,00198
167, 958 62
NEW ORLEANS.
W a r r a n t N o . 537°
No. 860.....
No.2323
1884.
J u n e 30.
323,844 52
230,77136
340,536 12
Balanceonhand:*
Philadelphia
SanFrancisco
Carson
NewOrleans
•
895,152 00
928,938 21
117,400 16
78,311 81
652,794 52
3,485,984 21
1, 777,444 70
5, 347, 920 40
* These balances have been covered into the Treasury as foUows:
Philadelphia, C. D. No. 31474
Philadelphia, C. D. No. 31596
San Francisco, C. D. No. 31597
Carson, C. D. No. 31.506
New Orleans,C.D. No. 31303
New Orleans, C.D. No. 31507
$484,990
443,947
117,400
78,311
334,903
317,891
43
78
16
81
44
08
1, 777,444 70
240
REPORT ON THE FINANCES.
ILIX.—AVEBAGE MONTHLY P B I C E of F I N E S I L V E B BABS at LONDON,
^ c , diiring the iiscal year ending June 30, 1884.
OQ
CO crt
rd
CO
H
o
-S P o
M -o
^1
Date.
rt O
> A'S
•sod
© ® 3
^ a2
1^
July
August
September . . . :
October
.n
November
December
January
February
March
AprU
May
June
Average
1883.
Pence.
50.412
50. 524
50.73
50. 933
50.715
50. 837
$1
1
1
1
1
1
50. 865
51.135
50. 937
50. 757
50.846
50.8
1
1
1
1
1
1
50. 791
1 11. 339
^ §
gcrt
p ' ^ p>~.i<>-.
. 2 t>.i='
P.*^
?.li
*-' rt S'^-^v^
rt-flj I §-2
10. 510 $4 88. 20
10.754
4 87.17
11. 205 4 85. 98
11. 649 4 85.°14
11.172
4 85.4
11. 440 4 85. 24
;> O
rtoo o.t:
o^S o
!=1
•;i
&gM-s^a
$1
1
1
1
1
1
® P-«1
10. 862 $1 11.13
10. 831 1 10.864
11. 047 1 10. 915
11. 305 1 11. 245
10. 887 1 n.21
11.117
1 11.005
1884.
,
11. 501
12. 093
11. 659
U.265
n.459
n . 359
4
4
4
4
4
4
87. 38
89. 89
90.42
90. 38
88. 38
86.6
4 87. 51
1
1
1
1
1
1
ir. 667
,12. 832
12. 513
12.118
11. 856
11. 318
1 11. 529
1
1
1
1
1
1
n.311
12. 677
12.71
12.062
12. 015
11.58
1 11. 56
DIRECTOR
OF T H E
241
MINT.
X K . — G O L D and S I L VEB of DOMESTIC PBOD UCTION D E P O S I T E D at the M I N T S
and ASSAY O F F I C E S from T H E I B OBGANIZATION to the close of the fiseal year
ended June 30, 1884.
Locality.
Gold.
Alabama
Alaska
Arizona ..California
Colorado
Dakota
Georgia .. .•
Idaho
Indiana
Maiue
Maryland
•
Massachusetts
Michigan
Montaua
.-..
Nebraska
Nevada
New Hampsbire
New Mexico
North Carolina
Oregon . - -:
South Carolina
Teunessee
Texas
XJtah
Vermont
Virginia.
Washington Territory.
W y o m i n g . -.
Kefined bullion
Parted from silver
Contained in silver
Parted from gold
Contained in gold
Other sources
Silver.
$222, 984 45
138, 719 .50
3,451,186 .51
729, 782,449 08
44, 431. 821 87
20, 332, 531 76
8,158,184 83
26, 684, 498 37
40 13
5, 638 20
2, 559 91
159
54, 345, 342
156
20, 497, 510
11, 020
1, 950,546
10, 931, 022
17, 835, 054
629
1, 515,286
87, 97
676, 027
32, 076
1, 710, 641
315. 315
734i 201
257, 048, 392
16, 699, 768
9, 322,268
58
33
97
25
55
38
38
76
82
00
86
52
10
48
34
00
52
48
97
10, 672, 060 26
Total.
1, 237, 595,193 16
$8 06
1, 050 36
13, 242, 548 99
3, 670, 866 84
22, 566, 463 12
237, 200 97
2,134 42
1, 230, 285 07
22 00
59
917 56
3, 559,116 89
10, 071, 448 14
2 42
88, 995, 652 43
4, 914, 811 16
48, 012 72
51,166 65
746 06
7 68
2,400 51
. 17, 627, 286 38
49 94
177-85
967 02
11, 856 77
113, 830, 795 01
7,073,251 68
526, 284 79
. 33, 411, 329 84
321, 076, 861 92
$222, 992 51
139, 769 86
16, 693, 735 50
733, 453,315 92
66, 998, 284 99
20, 569, 732 73
8,160, 319 25
27, 914, 783 44
40 13
660 20
560
50
2,
917 56
276
47
3, 559,
64, 416, 790 47
159 39
109, 493,,162 68
11, 020 55
6, 865,357 54
10, 979,,035 10
17, 886, 221 41
1,516, 375 88
87, 293 68
2, 498 37
18, 303,,313 90
32,,126 04
1, 710,,819 33
36
316.,282
,057 77
746,,187 53
370, 879,,768 48
16,699,,268 97
9, 322,,251 68 7, 073,,284 79
528,,390 10
44, 083.
1, 558, 672, 055 08
' ^ % 1 . — S T A T E M E N T of COINAGE from the OBGANIZATION of the M I N T to the
close of the fiscal year ended June 30,1884.
GOLD COINAGE.
Double
eagles.
Period.
1793 t o 1848.
1849 t o 1873.
1874
1875
1876
1877
1878
-.1879
1880
1881
1882
1883
1884
Total.
Eagles.
Half
eagles.
Three
dollars.
$25, 662, 270 $45, 265, 355
$646, 727, 980 29, 851, 820 22, 994, 390 $i,
48, 283, 900
383, 480
809, 780
32,748,140
599, 840
' 203,655
37, 896, 720
153, 610
71, 800
43, 941, 700
56, 200
67, 835
51, 406, 340
155, 490
688, 680
37, 234, 340
1, 031, 440
1,442,130
21, 515, 360 18,836,320 15, 790, 860
15, 345, 520 33, 389, 050 29, 982,180
14, 563, 920 44,369,410 30, 473, 955
27, 526,120
6,611,790
1, 775, 360
23, 765, 900
2,116, 020
2, 033, 040
Quarter
eagles.
$5 413,815
i69, 91.3 20. 804, 702
125, 460
516,150
60
• 2, 250
135
53, 0.52
4,464
5, 780
137, 850
408, 900
109,182 1,166, 800
9, 090
3, 075
4,698
9,140
75
62
4,665
10,137
2,955
4, 930
Dollars.
00
50 $19, 015, 633
00
323, 920
00
20
50
3,645
00
2,220
00
1, 720
00
3, 020
00
3,030
00
3,276
50
6,025
50
8,855
00
9, 979
Total.
$76 341 440
740, 564, 438
50,-442, 690
33, 553, 965
38,178, 962
44, 078,199
52, 7Ji8, 980
40, 986, 912
56,1.57, 735
78, 733, 864
89, 413, 447
35, 936, 927
27, 932, 824
00
50
00
00
50
00
00
00
00 \
OO
50
50
00
1, 000, 9.55, 940 163,133, 760 151, 682, 000 1, 568, 547 28, 398, 795 00 19, 381, 343 1, 365, .120, 385 00
5022 F-
-16
242
R E P O R T ON T H E
FINANCES.
X X l . - ^ S T A T E M E N T o f COINAGE from ilie OBGANIZATION of the M I N T to the
close of the fiseal year ended June 30, 1884^-Continued.
SILVER COINAGE.
Period.
Trade dollars.
1793 to 1852
1853 to 1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
'
$3,588,900
5, 697, 500
6,132, 050
9,162, 900
11, 378, 010
35, 959, 360
Total
Period.
1793 to 1852
1853 to 1873
1874
1875
1876
1877
1878
1879 '.
Total
.$2, 506, 890 $66, 249,153 00
5, 538, 948 33, 596, 082 50
1, 438, 930 00
2, 853, 500 00
4, 985, 525 00
9, 746, 350 00
8, 573, 500 3, 875, 255 00
27, 227, 500
225 00
27, 933, 750
3, 275 00
27, 637, 955
4, 677 50 •
27, 772, 075
5, 537 50
28, 111, 119
2, 759 50
28, 099, 930
4, 465 00
.'.
:
Half dimes.
$3, 890, 062 50
5,170, 733 00
497,255 80
889, 560 00
3,639,105-00
2, 055. 070 00
.760,891 00
45 00
Ij 575 00
3, 695 50
2, 507 50
717, 511 90
665,160 30
18, 293,172 50
.
$3, 999, 040 50
18, 002,178 00
458, 515 50
623, 950 00
4,106, 262 50
7, 584,175 00
3, 703, 027 50
112 50
3, 837 50
3, 638 75
3, 268 75
4, 079 75
3, 832 50
183, 401, 667 122, 765, 735 00
' Dimes.
.
1880 '
1881
1882
1883
1884
Half doUars. Quarter dollars. T w e n t y cents.
Dollars.
.$1, 823, 298 90
3, 083, 648 00
38. 495, 918 75
Three cents.
$744, 927 00
536, 923 20
$5,858
263, 560
1,440
142
271 000
Total.
$79, 213, 371 90
65, 928, 512 70
5, 983, 601 30
10, 070, 3,68 00
19,126, 502 50
28, 549, 935 00
28, 290, 825 50
27, 227, 882 50
27, 942, 437 50
27, 649, 966 75
27, 783, 388 75
28, 835, 470 15
28, 773, 387 80
4, 906, 946 90
1, 281, 850 20
405,37.5,6.50 35
MINOR COIN.
Period.
Five cents.
Three cents.
T w o cents.
Cents.
Half'cents.
Total.
$5, 276,140 00 $805, 350 00 $912, 020 00 $4, 886, 452 44 $39, 926 11 $11, 919, 888 55
1793 to 1873
29, 640 00
137,935 00
244, 350 00
411 925 00
1874
12, 540 00
94, 650 00
123,185 00
1875 .- . ..
230 375 00
7, 560 00
.120, 090 00
132, 700 00
1876.
260, 350 00
25, 250 00
36, 915 00
62,165 00
187748 00
30 694 00
80 00
30, 566 00
1878
984 00
1,175 00
95, 639 00
97 798 00
1879 . . .
982 50
1,24750
267, 741 50
1880
^69 971 50
1881
32, 416 65
177 75
372, 515 55
• 405,109 95
104 25
220, 038 75
424, 614 75
1882
644, 757 75
858 57
404, 674 19
1883
.. - . 1, 022, 774 40
1, 428, 307 16
244 86
768, 745 25
405, 719 62
1884
1,174, 709 73
•
Total
7, 787, 328 65
890, 728 83
912, 020 00 7, 306, 048 05
39, 926 11 16, 936, 051 64
I L X l l . — B E G U L ATIONS P B E S C B I B E D hy the SECBETABY of the TBEASUBY in
BEL ATION to the EXECUTION of COINAGE for FOBEIGN COUNTBIES at the
MINTS of UNITED STATES.
Bullion or metal to be used in coinage authorized by the Secretary of tbe Treasury
ip be executed for any foreign Governmeut shall be delivered to the Superintendent
of the Mint vrhere tlie coinage has been authorized, who shall ascertain the weight
and fineness and give a special receipt therefor, stating the amount and the purpose
for w^hich received.
Accounts will be kept in the books of the Mint in such manner as the Director of
t h e Mint may prescribe, showing the character, amount, value, and disposition of the
243
DIEECTOR OP T H E MINT.
bullion or metal thus received and of the coinage executed and of the transactions
relating thereto wdth the agent of the foreign Government.
The bullion or metal received shall be delivered to the operative officers, and accounted for as in'the case of bullion purchased or depositf^'d for coinage.
The ingots will be ijrepared and the coin manufactured in the same manner as t h e
coins of the United States, the fineness and weight being accordiug to the standarcl
prescribed by the foreign Government, and the tolerance for weight and fineness being
the same as t h a t fixed by its law.
The dies for the coinage shall be furnished by or at the expense o f t h e Government
applying for the coinage.
The coinage shall be executed from time to time, but shall not interfere with th©
hecessary coinage cf United States coins.
From each delivery of coin by the coiner the Superintendent shall take, without
selection or weighiug, two coins of each denomination and forward them to the Director of the Mint monthly for test and assay.
Upon payment to the Saperintendent of the Mint of the charges fixed by the Director of the Mint, with the approval of tlie Secretary of the Treasury, the Superintendent shall deliver from time to time to the ae:ent of the Government the coins as
struck, not exceeding the nominal sum for which the coinage has been authorized
contaiuing the same uumber of fine ounces of bullion or metal as were received for
coinage.
Should bullion furnished for such coinage require refining or toughening, the charges
will be imposed usually collected for those operations on similar bullion.
The moneys received in payment of the charge for executing such coinage will be
deposited in the Treasury and applied to reimburse the appropriations from which the
expenses incurred may appear to. have been paid.
Any necessary instructions as to details for carrying into effect the foregoing regulations will be given by the Director of the Mint.
After the completion of the authorized coinage the dies furnished the Superintendent for its execution shall be forwarded by him to the Director ofthe Miut, who shall
cause them to be defaced or returned to the Government for which the coinage vvas
executed, if so requested by its official representative at Washington.
H. F. FRENCH,, ,
Acting Seeretary of the Treasury.
X X l l l . — T A B L E shoiving the NUMBEB of P I E C E S , and F I N E N E S S of EACH, of
the COINAGE of the calendar year 1883, ASSAYED at the ANNUAL ASSAY and
MONTHL Y at the M I N T B UBEA U.
GOLD.
Fineness.
Annual.
Pieces.
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
Total pieces . . .
Average
fineness
1
1
6
Carson.
San Francisco.
Philadelphia.
Monthly. Annual.
Pieces.
Pieces.
1
3
2
2
1
1
1,
4
1
3
2
1
4
1
Monthly. Annual.
Pieces.
i
Pieces.
1
2
2
6
4
N e w Orleans.
Monthly. Annual.
Pieces.
16
13
4
1
5
S*
1
Pieces.
Monthly,
Pieces,
1
7
2
^
1
1
17
8
16
77
15
899.9
899. 93
899. 86
899. 79
900.. 13
17
899.87
1
1
^ 899.7
889.2
'244
REPORT ON T H E
FINANCES.
X X l l l . — T A B L E showing the NUMBEB of PIECES, and F I N E N E S S of EACH, of
the COINAGE of the calendar year 1883, ASSAYED at the ANNUAL ASSAY and .
MONTHLY at ihe M I N T BUBEAU—Continued.
SILVER.
Philadelphia.
Pieces.
Fieces.
Carson.
Monthly. Annual.
Monthly. Annual.
Annual.
903
902
901 9
901.8
901.7
901.6
901.5
901.41..
901, •{
901.2
901.1
9Ul
900.9
900.8
900 7
900 6
900.5
San Francisco.
Pieces.
Pieces.
N e w Orleans.
Monthly. Annual.
Pieces.
Pieces.
Monthly.
Pieces.
Pieces.
1
^
'
1
2
1
900.3
900.2
900.1
900 ^ s t a n d a r d
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
898.1
898.
897.9
S97.8
897.7
897. 6
897,5
.
3
1
1
2
3
2
3
. -.
.
i
6
1
9
1
37
20
43
5
68
6
27
14
45
16
4
46
3
27
1
7
1
1
1
2
3
1
1
2
1
3
2
3
1
1
2
3
2
'
1
1
6
6
2
8
8
4
5
8
4
1
3
2
5
4
2
5
1
3
2
1
1
1
1
1
2
3
1
1
2
21
4
4
3
4
2
1
4
3
1
3
4
2
1
2
'
2
1
2
1
1
1
1
1
2
.
10
3
13
5
1
6
7
6
2
4
2
3
J
3
1
1
o
1
*
i...
1
. ^ Total pieces ..
Average
1
1
$QQ 4
1
4
2
1
1
1
fineness .
18
392
18
79
18
36
16
899.90
899. 83
899. 74
899. 78
900. 46
900.19
900. 03
'
90
899. 57
245
DIRECTOR OF T H E MINT.
X X I V . — T A B L E showing the PEBCENTAGE of P I E C E S of E A C H TITLE of F I N E NESS ofthe WHOLE NUMBEB ASSAYED at the ANNUAL ASSAY and MONTHL Y at the M I N T B UBEA U.
GOLD.
PhUadelphia. SanFrancisco.
Fineness.
rP
9 00.4
900.3
90O 2
900 1
900 s t a n d a r d
899 9
899.8
899.7
899 6
899 5
.
899 4
899.3
899.2.
899.1
p
p
o
1
P . ct.
p . ct.
P . ct.
P.ct
5.88
4L18
35.30
12. 50
37.50
25.00
25.00
25.00
6.25
L30
L30
19.48
20. 78
16.88
18.18
9.09
9.09
2.60
'
-.
5.88
5.88
5.88
18.75
12.50
6.25
2.5. 00
6.25
Carson.
1 1
P.ct.
fl
fl
P . ct.
1
p
fl
fl
A v e r a g e fineness . . 899.9
899.7
!
o
P . ct.
P.ct. P.ct. P.ct.
6.67
6.67
13.33
13. 33
38.33 " i " 3 0 39. 60
52.03 13.80 65.83
67.85 70.51 138. 36
54.05 86.96 141. 01
12.50 71.29 83. 79
112.13 18.18 130. 31
30.88
9.09 39.97
12.13 14.97 27.10
2.60
2.60
100. 00
100. 00 100.00
1.30
1.30
:::
23.53
4L18
29.41
ioo. 00
5.88
899. 93 899. 86 899: 79 900.13 899. 87 899.7
900.0
- fl
<1
1.30
Melted in mass
TotaL
>i
li
P . ct.
6.67
13.33
13.33
40.00
26.67
Total.
N e w Orleans.
899.2
900.3
SILVER.
903
902
901.9 . :
901 8
901.7
901.6
901.5
901 4
901. 3
901.2
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
.
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
898.1
898
897.9
897.8'
r.
Lll
.16
Lll
.16
15
.16
.33
. 45
.3
Lll
.2-5
L27
12." 5"' 4.44
9.44 'n."ii' L 2 7 '27.'78'
3.33
5.1
7.59
'6." 25' L l l
10.97 'ih'hi' 7.59 ' ' 5 . ' 5 5 '
3.33
2.53
L28
4.44
17.34 'n."ii 10.13
10.13
L53
5.06 ih'.hi'
6.89 'i6.'67'
12.5
11.11
6.33
3.57
3.33
' i 2 . " 5 " 14.44
1L47
5,55 10.13
5.06
''5.'55
5.55
4.08
L 2 7 "5." 55
Lll
1.02
6.67
6.25
11.73 "5.'55" 3.80
2.53
7.78
2.78
.77
1
1
.
1
1
'
6.33
'
5
.
5
5
6.85
2.78 "6.'25" 6.67
5.06'
2.22
.25
2. 53
4.44
12.5
L 7 5 16.67
2.22
.84
.33
.33
.33
4.29
L67
.84
" a 57' 2.18
.16
.67
'i7."i4' 7.37
L43
5.19
8.57
8.51
2.34
'16."'' 14.07
2.85
1L43
7.56
4.02
" 8 . ' 5 7 ' 11.05
4.52
LOl
"7."i4'
9.21
2.18
'"7.'i4'
6.53
L17
"7." 14
2.18
.33
9
.3
.75
,3
1.95
.75
2.85
15
'6
8.40
4.8
8. 55
'^ 1
13. 64
2 55
7.95
3. 6
10.8
4.05
.9
9.00
1.8
6.7
1.05
2.70
.3
•3.33
Lll
3.33
Lll
Lll
.5
.16
.5
.16
.16
45
.15
.45
.15
.15
11.11
5.55
n.n
16. 67
,
11.11
16.67
5.55
2.86
1.11
Lll
2.78
L27
16.67
5.55
5.55
2.78
2.78
L02
"5.'55'
.51
5.55
.15
1.53
.25
. 2 . 2 9 "'5.'55
L27
2.53
3.80
'n.'ii*
n.n
L27
.-V-.
"2.'78'
2.78
8.33
2.78
2.78
5. 55
5.55
2.78
11.11
11.11
8.33
11.11
5.55
L25
6.25
12.5
' L43
4.29
Lll
Lll
Lll
1
^46
R E P O R T ON T H E FINANCES
X X I V . — T A B L E showing the PEBCENTAGE of P I E C E S of E A C H TITLE of F I N E NESS of the WHOLE NUMBEB ASSAYED at the ANNUAL ASSA Y and MONTHL Y at the M I N T B UBEA ?7—Continued.
SILVER.
Carson.
Philadelphia. SanFrancisco.
Fineness.
p
p
fl
li
P
fl
fl
fl
1
p.ct.
P.ct.
P.ct.
897. 7
897. 6
897.5
Average
P.ct.
N e w Orleans.
TotaL
Total.
p
p
fl
fl
o
P
fl
fl
.<1
1
p
fl
fl
P.ct.
P . ct.
P.ct.
P.ct.
P.ci.
1
P.ct.
1
P.ci.
. ,
.16
1.21
•
.IS
fineness... 899. 90 899. 85 899. 74 899. 78 900. 46 900.19 900. 03 899. 57
M e l t e d i n mass'.
900.0
900.2
900.4
XXV.—ASSA Y of J A P A N E S E COINS.
LEGATION OE J A P A N ,
Washington, 28th of 8th nionth, seventeenth year of Meiji.
S I R : In compliance Avith the request of His Imperial Majesty's minister of finance
I have the honor to transmit herewith several specimens of the gold and silver coinage of the Japanese mint for one year from the July of 1883 to the June of 1884, and begt h a t you will request, the honorable the Secretary of tbe Treasury to add to the obligations under which he has already placed my Government by his courteous compliance with similar applications in the past, by directing t h a t the same be assayed at
the United States mint.
According to the letter o f t h e assayer of the imperial mint, a copy of which I have
the honor to inclose, the accompanying pacliet contains one five-yen gold piece o f t h e
pyx of 1883 and two of the pyx of 1884, and one cutting from a gold b a r ; also three
ouo-yen silver i)ieces of the ]3yx of 1883, two of the pyx of 1884, and one specimen of
silver yen granulation.
Accept, sir, the renewed assurance of my highest consideration.
NAITO RUIJIRO.
Hon. F R E D E R I C K T . F R E L I N G H U Y S E N ,
Secretaiy of State.
T H E IMPERIAL MINT,
Assay Department, July 8, 1884.
DEAR SIR : Three fi ve-y en and five silver yen coins sel ected this day by his excellency
Matsukata Masayoshi, minister of finance, fromthe pyx pieces representing the ^coinage of the mint for 'the financial year 1883-'84 have been individually assayed by me.
Ninetj^-six of the remaining five-yen coins were melted together and cast into a
bar ; a cutting was taken from this bar and assayed.
Two hundred of silver yen coins were melted together, and a *'dip" was taken from
the molten metal and granulated and the granules were assayed.
The results are as follows:
,
'
- .
No. 1. Goldfive-yen coin, December 14, 1883
900.0
No. 2. Gold five-yen coin, February 15, 1884
900.1
No'. 3. Goldfive-yen coin, May 28, 1884
900.0
* No. 4. Gold five-yen cuttiug from bar
900. 0
No. 1. Silver yen coin, July 28, 18rt3
.'
900.5
No. 2. Silver yen coin, August 22, 1883
900.9
No. 3. Silver yen coin, December 20, 1883...
900.3
No. 4. Silver yen coin, February 27, 1884
900.2
No. 5. Silver yen coin. May 28, 1884
900.2
No. 6. Silver yen dip, granulated
»
900.2
BIRECTOR O F T H E
247
MINT.
Each coin, dip, and cutting was divided into four p a r t s ; one part was assayed by
me as above, and the other' three parts were separately sealed np in your presence and
delivered to you. In every case the fineness of the coins is within the limits of the
deviation permitted by law.
I have the honor to be, sir, your obedient servant,
WILLIAM GOWLAND, F. C. S.,
Associate of the Boyal School of Mines.
The COMMISSIONER OF T H E M I N T .
TREASURY DEPARTMENT,
B U R E A U OF THE M I N T ,
Washington, D. C , Octoher 1, 1884.
SIR : The following is the result of assays of the pyx coins sent from the imperial
mint of Japan, handed me by you for assay. I also give the assay of the imperial
mint of J a p a n :
Description.
Japanese United States
mint assay. mint assay.
GOLD.
Five-yen
Five-yen
Five-yen
Five-yen
coin, Decemher 14, 1883
coin, Fehruary 15, 1884
coin, May 28, 1884
cutting from har
900.
900.1
900.
900.
900.4
900.2
900.2
900.1
' 900.5
900.9
900.3
900. 2
900.2
900.2
90L8
900.4
900.4
90L3
90L 0
900.3
SILVER
Silver
Silver
Silver
Silver
Silver
Silver
yen
yen
yen
yen
yen
yen
coin, July 28, 1883
coin, August 22, 1883
coin, December 20,1883
coin, Fehruary 27, 1884
coin. May 28, 1884
dip, graniilated
Very respectfully,
W. P. LAWVER,
Assayer Mint Bureau.
Hon. HORATIO C . BURCHARD,
Director of the Mint.
248
REPORT ON THE
FINANCES.
X X Y l%—STATEMENT of IMPOBTS and EXPOBTS of GOLD and SILVEB duri
the fiscal year ended June 30, 1884.
.
IMPORTS.
Gold.
Ports.
Silver.
Coin.
JSullion.
Total.
Foreign.
American.
Foreign.
TORK.
J u l v 1883
A u g u s t , 1883
S e p t e m b e r , 1883
October, 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
SAN
,
Bullion.
American.
NEW
Coin.
>
$8, 522
10,847
491,5.58
691, 972
1, 52.5, 962
130, 287
14, 044
18. 945
12, 514
18, 943
13, 074
25, 890
$21, 596
495, 830
61, .506
181, 518
365,166
155, 549
14, 268
24,165
17, 830
11,518
119, 067
59, 951
$190, 724
1,278,735
801, 613
1, 373, 964
1, 737, 942
403, 895
32, 375
12, 845
179,181
2, 736, 335
142, 295
1,932,830
$2,140
2, 202
2,500
1,000
4,252
2, 303
23,160
3, 330
2,000
6,921
9,410
9,210
$21, 432 ^ $380,898
856, 891
29, 717
739, 397
52, 392
709, 558
80, 940
535, 631
50, 425
349, 978
59, 915
404, 231
50, 364
334, 508
55, 051
233, 381
141, 554
198, 076
25,926
208,125
22, 474
216, 762
36, 415
2, 962, 558
1, 527, 964
10, 822, 734
68, 428
626, 605
50, 223
88, 723
238, 516
808, 706
213, 437
222, 742
102, 992
63, 020
13, 050
3.5, 606
32, 200
39, 028
9,162
500
150
4,112
4,050
1,458
3,860
L029
2; 000
6,900
L185
2,800
119,620
177, 386
25, 509
187, 367
621, 543
9,910
867,127
168, 962
515,183
221, 644
68, 909
. 95,108
348, 023
154, 326
150,132 - 148,966
113, 099
187,513
152, 8.50
149, 553
52, 867
200, 742
4, 902
97,112
1, 220
3, 400
2,324
2,156
L982
3,663
4, 297
2,200
1,208
14, 890
2,147
1, 329
166, 807
1.52.100
163, 292
99, 874
150,406
329, 644
149, 756
133, 500
180,718
153, 933
106, 073
92, 574
.524, 418
457, 599
1, 035, 73§
1, 9.50, 937
1,106, 702
721, 524
763, 254
498, 847
497, 588
513 732
395, 214
237 745
40, 816
1, 878, 677
8, 703, 295
277, 099
238, 536
198, 537
207, 321
267, 812
462, 464
302,126
174, 026
397,101
386,186
464, 355
516, 636
397 251
359, 317
254, 777
667, 090
533, 642
618, 750
386, 952
350, 668
1, 022, 827
505, 258
1, 783, 567
607,148
5, 227, 436
$625, 312
2, 674, 222
2,148, 966
3, 098, 9.52
4, 219, 378
1,101,927
538, 442
448, 844
586, 460
2 997 719
' 514,' 445
2, 281, 058
21,235,725
FRANCISCO.
J u l y 1883
A u g u s t , 1883
•September, 1883
October, 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 v , 1884
M a r c h , 1884
A n r i l 1884
M a y , 1884
J u n e 1884
1, 908, 243
Total
•
37, 200
3, 039, 764
1, 798, 589
857
15, 800
341
321, 920
513
50
29, 050
61,410
1,5, 996
7,435
, 1,500
13, 205
2,980
L972
2,107
2,130
6, 536
1, 965
90, 245
43,471
30, 500
125, 738
263, 570
134, 714
68, 283
22, 874
59, 406
70, 390
51,463
76, 780
ALL OTHER PORTS.
J u l v 1883
A u crust 1883
S e p t e m b e r , 1883
October, 1883
N o v e m b e r , 1883
December„1883
J a n u a r y , 1884
F e b r u a r v , 1884
M a r c h , 1884
A p r i l , 1884
M a y 1884
J u n e 1884
Total
. .
, '
..
Total imports
2,049
4, 676
65
7,117
6, 871
2, 696
2,400
43, 984
51, 317
5,595
147, 500
•561,020
2,163
1, 207, 990
1,638
100
1,354
182
1,200
6,692
1,600
793
400
1, 906
4,534
126, 770
2, 259, 792
146, 286
1, 043, 434
18, 761
3, 892,199
7, 487, 242
4, 997, 571
3, 824, 962
14, 008, 784
2, 910, 451
686,182
10, 998, 312
37, 426, 262
DIRECTOR OF T H E
249
MINT.
X X V I . — S T A T E M E N T of IMPOBTS and EXPOBTS of GOLD and SILVEB during
the fiscal year ended June 30, 1884—Continued. .
EXPORTS (DOMESTIC).
'
Silver.
Gold.
Ports.
Coin.
Bullion.
Coin.
Total
Bullion.
Trade
dollars.
Other.
N E W YORK.
J u l y , 1883
A u f f 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 v 1884
F e b r u a r y , 1884
M a r c h , 1P81
A p r i l , 1SS4
M a y 1884:
J u n e , 1884
1,200
2; 500
1, 900
2, 600
6,139
3,000
6,000
6, 375, 362'
16, 207, 279
371, 676
2, 240
--
Total
SAN
22, 979, 896
$34, 661
79, 267
81, 000
43, 475
38, 650
156, 006
60, 895
2. 263, 224
4, 060, 303
3. 638, 632
431,900
67, 000
$550, 080
628, 545
833,400
397, 762
680, 879
643, 071
807, 636
1,114, 010
794,137
584, 054
691, 485
. 655,606
10,955,013
8, 440, 665
$117,500
63, 000
20, 000
25, 000
$586,494
885. 592
970 900
73-' 437
750, 929
872, 890
931 531
3, 386. 684
11, 270, 819
20. 429, 965
1,496, 061
724, 846
$1. 753
59; 080
54, 000
226, 300
8,800
67,674
3,450
16, 017
1,000
225, 500
43, 039,148
438, 074
ERANCISCO".
J u l y , 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 u u a r v , 1884
F e b r u a r v , 1884
M a r c h 1884
April,1884
M a y , 1884
J u n e , 1884
3,894
7,104
440
3,783
5, 783 •
2,608
45, 696
,
T o t a l '.
$172, 368
575,615
310,4.53
359, 900
327,725
931,695
680, 275
588,168
287,860
618, 426
505, 800
442,100
750
19, 000
800
350
213
L549
1,217
35, 615
30,117
110, 405
82, 372
100,175
68, 106
12,525
35, 715
24, 550.
23, 675
47, 005
15, 648
212, 627
631i836
421 298
447, 355
433, 683
1, 003, 209
738, 846
623,883
312, 410
642, 314
554, 354
458, 965
72, 287
585, 908
5, 800, 385
22, 200
6,480 780
ALL O T H E R P O R T S .
••
J u l y , 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
JaiU 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
'
1,000
251,000
J.50, 000
.^
T o t a l d o m e s t i c e x p o r t s 23, 052,183
1,300
3, 000
448
1,000
251, 000
153, 000
448
300,159
100
300, 000
100
159
701,100
4,607
705,707
464, 881
50, 225, 635
12, 242, 021
14, 241, 050
225, 500
250
REPORT ON T H E
FINANCES.
X X V I . — S T A T E M E N T o f IMPOBTS and EXPOBTS of GOLD and SILVEB during
the fiscal year ended June 30, 1884—Continued.
EXPORTS (FOREIGN).
Gold.
Silver.
Ports.
Total.
Bullion.
Coin.
BuUion.
Coin.
N E W YORK.
July,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 h 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
June,1884
..
$2, 400
. .
Total.
2,400
$10, 500
4,905
2,000
1,000
5,160
. 52,110
5,000
1,106, 218
1, 763, 920
1,176, 926
1, 559, 734
44, 900
5, 732, 373
11, 600
$394, 469
826, 955
830, 552
697,156
373, 891
455, 886
487, 346
324, 600
359, 256
229, 268
249, 700
241, 897
$404, 969
887, 520
983, 352
813,156
462, 051
568 876
494, 746
1,430, 818
2,129, 876
1, 407, 594
1, 809, 434
298, 397
485, 040
5, 470, 976
11, 690, 789
155, 935
213, 313
531, 854
324,191
453, 569
596,151
264, 652
298,179
588, 696
618,147
530, 348
433, 627
172,135
223, 043
531, 854
324,191
453, 569
596,151
292, 902
303, 379
588, 696
618,147
530, 348
433, 627
$55,
150,
115,
83,
60,
660
800
000
000
880
6,700
1, 400
SAN FRANCISCO.
16, 200
9,730
J u l y , 1883
A u g u s t 1883
S e p t e m b e r 1883 . . .
October, 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
February,'1884
..
M a r c h , 1884
A p r i l , 1884
M a y , 1884
J u n e , 1884 . . . . . .
.
. . . .
. . .
24, 250
4,000
5,200
50,180
9,200
:
Total
.
5, 008, 662
5,068,042
16, 834
12, 875
19, 813
18, 657
12, 254
17, 467
9,688
15, 410
17,137
16, 834
12, 878
19, 81S
18,657
12,254
19, 46T
9,688
15,410
17,137
800
2,482
3, 500
ALL O T H E R P O R T S .
J u l y , 1883
A u g u s t 1883
S e p t e m b e r , 1883
October, 1883
N o v e m b e r , 1883
D e c e m b e r , 1883
J a n n a r y , 1884
F e b r u a r y , 1884
March, 1884.......
April,1884
May,1884
J u n e , 1884
.-
1
2,000
:
Total
T o t a l foreign e x p o r t s
800
2, 482
3,500
.
>
2, 800
2,400
5, 785, 353
494, 240
146,117
148, 917
10, 625, 755
16, 907, 748
251
DIRECTOR OF T H E MINT.
X X V l l . — P B E C I O U S METALS U^ED in the ABTS and MANUFACTUBES in the^
UNITED STATES.
"
^
U N I T E D STATES ASSAY O F F I C E , N E W YORK C I T Y ,
Superintendent's Office, Septembei' 30, 1884. '
Deposits of gold and silver bullion for bars which have been used in the arts and
manufactures during the fiscal year from J u l y 1, 1883, to June 30, 1884, appear as follows, viz :
Deposits—
©f United States coin
Of foreign coin
Of foreign bullion
Of plate, &c
.Of domestic bullion
Total
.•
Gold.
.
....
'.
.
Large gold bars exchanged for gold coin and redeposited for small
bars, $1,260,942.27, less the charges and fractions paid in gold coin. .
Total
Silver.
$1,171 25
97, 465 06
250, 225 14
713, 099 05
3, 553,157 64
$1, 833 73
63,184 30
359,823 81
' 166, 625 67
4, 614, 529 46
4, 615,118 14
5, 205, 996 9T
1, 259, 893 58
$5,875,011 72
*•
B.
Statement showing the value and character of the gold and silver used in the arts and manufactures during the calendar year 1883, as reported by the persons and firms who had been
addressed.
GOLD.
Manufactures.
rS o
ao
fe: U
rS O
o
Watch-cases
Watch-chains
Dental supplies
Pens.
Instruments
Leaf
Plate
Spectacles
Chemicals
JcAvelry a n d w a t c h m a k e r s '
supplies
Jewelry and watches
Total
32
14
7
14
45
51
219
41
• 27
$575, 812
374, 997
700
14, 578
68
178, 424
379, 291
192, 400
7,438
24, 498
11
2,273 3,125, 738
I, 976, 550 538,101
1,907
286, 884
3 775
33, 437
6,100
90, 325
3,568
792, 551 57,498
67, 928
5,500
7,169
8,830
7,685
3,551
13, 983 9,123
2, 861, 149738, 688
2,734 4, 875, 587 7,137, 661
$520 $5, 817 $3, 598,'308
$1, 508
827, 000
600 135, 410 27, 202
37, 912
145, 924
5, 227 2,134 27, 560
621
942
5,199
6,700 42, 835 1, 084, 824
6,816
8,933 66, 626
528, 868
590
4, 987
727
215,428
1,315
207 12,180
31, 611
550
1,569 30, 054
79,227
541, 306 458,745 7, 905,163
14, 459, 464
252
R E P O R T ON T H E
FINANCES.
X X V M . — P B E C I O U S METALS USED in the ABTS and MANUFACTUBES in the
UNITED STATES—Continued.
SILVER.
02
oo
Manufactures.
CJ
2
t
m
•
•
1.
-2
xn rh
p
^cg
%^
^
ri4»
a^
iro
-1
tl
h;2
rs
P
f^ d
^s
Ord
rs
O
o
rs
6
bJ3
P
2^
p
ba
9
So
SbX)
0
?
>
<s>
0
u
0
^CD
^
^
10
10
•
ci
P
ci
1
g
$35, 200 $1, 777,193 $31, 937
$219 $1, 000
AVatch-cases
$50 Sl, 845, 599 $5, 443, 907
524 . 14,768
6,790
23, 544
850, 544
Watch-cbains
1, 462
450
6,060
6, 738
44,650
Dental supplies
228"
4,254
216
1 655
505
152, 654
Pens
-.
......
100
6 730
3, 752
931
755
. 864 6,995
19,189
Instruments
693
. 13,990
46, 883 1,131, 707
11
22, 697
4,107
300
835 18, 933
Leaf
7 690
Plate
- .. 16, 856 1 710 515 40, 761
8 495 281 977 2, 066, 294 2, 595,162
3,631
16, 461
1 254
'205
250
239, 210
Spectacles
1*981
23 782
9
375, 429 35, 554500
1,580
3,347
416,' 419
448, 030
Chemicals
Jewelry and watchmakers'
87, 558
245
4,806
800
1,505
975
8, 331
supplies
158,564
Jewelry and watches.-.
616, 237 106, 745 142, 949 49, 733 23, 992 1, 098, 220 9, 003, 383
Total
216, 637
4, 552,172 221,951 154, 273
71, 557 339, 940
5, 556, 530 20, 015, 994
Character and valne of the precious metals repointed by manufacturers, jeivelers, and others,
used hy them during the calendar year 1883.
Character.
Dnited States coin
Stamped United States or refinery bars ..
Old jewerly, plate, andother old material
Foreign coin
Native grains, nuggets, &c
Wire or rolled plate
Yalue
Gold.
875, 587
137,761
876, 641
194, 400
702, 387
672, 688
Total.
Silver.
$216,637
4, 552.172
221, 951
154, 273
71, 557
339, 940
$5, 092, 224
11, 689, 933
1, 098, 592
348, 673
773, 944
1, 012, 628
5, 556, 530 20, 015, 994
X X V I I I . — C I B C U L A B , ESTIMATING AND PBOCLAIMING, I N UNITED
•STATES MONEY OF ACCOUNT, T H E VALUES OF T H E STANDABD COINS
I N CIBCULATION OF T H E VABIOUS NATIONS OF THE WOBLD.
1884.
)
DEPARTMENT No. 1. V.
TREASUKY DEPARTMENT,
BUREAU O F T H E M I N T ,
Secretary's Office. )
Washington, D. C, January 1, 1884.
S I R : In pursuance of the provisions of section 3564 of the Revised Statutes o f t h e
United States, I have estimated the values of the standard coins in circulation of th©
various nations of the world, and submit t h e same in the accompanying table.
' Yerv respectfully,
.
HORATIO C. BURCHARD,
Director.
Hon. CHAS. J. F O L G E R ,
Secretary of the Treasury.
DIRECTOR
OF
THE
253
MINT.
E S T I M A T E of VALUES of F O B E I G N COINS.
Country.
Monetary unit.
Standard.
P !=
Standard coin.
Argentine Ri^public ..
Peso.
Gold and silver . $0. 96, 5
20) TV) h h «'iDd 1 peso, \
Austria
Bela;ium
Bolivia :
Brazil
British Possessions :
North America.
Chili
Florin
Franc ...."
Boliviano
Milreis of 1,000 reis.
Dollar
Silver
.39,8
Gold and silver . . 1 9 , 3
Silver
.80,6
Gold
.54,6
...do
LOO
5, 10, and 20 francs.
Boliviano.
Peso.
Cuba
Denmark
Ecuador
Egypt...
Peso
Crown ..
Peso
Piaster.
France
German Empire
Great B.iitain
Franc
Mark
Pound sterling-
Greece
Drachma
Condor, doubloon, and
escudo.
'hx h h 2. J^nd 1 doubloon,
10 and 2'0 crowns. •
Peso.
5,10, 25, 50, and 100 piasters.
Gold and silver. . 1 9 , 3 5,10, and 20 francs.
Gold
5,10, and 20 marks.
.23,8
...do
4 . 8 6 , 6 | ^ sovereign and sovereign. '
5, io, 20, 50, and 100
.19,3
Gold aud silver
drachmas.
Gold and silver. . 9 6 , 5 1, 2, 5, and 10 gourdes.
Silver
.38,3
.19,3
5, 10. 20, 50, and 100 Ure.
Gold and silver
.86,9
Silver
1, 2, 5,10, and 20 yen, gold
and silver yen.
Gold. 1.00
Silver.
. 87, 5 Peso or dollar, 5, 10, 25,
and 50 centavo.
Gold and silver. . 4 0 , 2
Gold
. 2 6 , 8 10 and 20 crowns.
.80,6
Silver
Sol.
L08
Gold
2, 5, and 10 milreis.
. 6 4 , 5 -^, h, and 1 rouble.
Silver
.19,3
5,10, 20, 50, and 100 peseGold and silver
tas.
Gold
10 and 20 crowns.
.26,8
5,10, and 20 francs.
Gold and silver
.19,3
Silver
.72,7
25, 50,100, 250, and 500 piGold....
.04,4
asters .
Peso.
.80,6
Silver
5,10, 20, 50, and 100 Boli.19,3
Gold and silver
var.
...}
Hayti
India
Italy...
Japan.
Liberia
Mexico
Gourde
.
Rupee of 16 annas.
Lira
Yen
,.
,
Dollar .
Dollar .
Netherlands
Norway..
Peru
Portugal
Russia
Spain
Sweden
Switzerland
Tripoli
Turkey
Florin
Crown
Sol
Milreis of 1,000 reis...
Rouble of 100 copecks.
Peseta of 100 centimes.
'..
Crown
Franc
;
Mahbub of.20 piasters.
Piaster
United States of Colombia Peso
Venezuela
Bolivar .
Gold and silver
. 91, 2
...do.
Gold..
Silver.
Gold. -
.93,2
.26,8
.80,6
.04,9
argentine, and argentine.
TREASURY DEPARTMENT,
Washington, D. C , January 1, 1884.
The foregoing, estimation, made by t h e Director of t h e Mint, of t h e v a l u e of t h e
foreign coins above mentioned, I hereby proclaim to be t h e values of such coins expressed in the money of acconnt of t h e United States, and to be t a k e n in estimating
t h e values of all foreign merchandise, made out in any of said currencies, imported
on or after J a n u a r y 1, 1884.
CHAS. J . FOLGER,
Secretary of the Treasury.
to
X X I X . — W O B L D ' S PBODUCTION of GOLD and SILVEB.
188L
1883.
1882.
Countries.
Gold.
United States
Russia
Australia
:
Mexico
Germany
Austria-Hungary
Sweden
Norway
Italy
Spain
Turkey
Argentine Republic .
Colombia
Bolivia
ChiU.
Brazil
Japan
Africa
Yenezuela
D o m i n i o n of C a n a d a .
France^
Total .
Kilos.
52, 212
36, 671
146,178
111,292
11350
1,867
1
dl09
7
/118
/ 6 , 019
109
194
1,116
/702
a s , 000
ed, 423
1,648
Silver.
Dollars.
Kilos.
Dollars.
34, 700, 000 1, 034, 649 43, 000, 000
24, 371, 343
7,992
332,198
30. 690, 000
+3. 970
16i, 983
858, 909 11665, 918 27, 675, 540
232, 610 al86, 990
7, 771, 304
1, 240, 808
31, 359
1, 303, 280
665
L176
48, 875
4,812
199, 987
72, 375
d4S2
17, 949
674,500
3, 096, 220
4,918
L719
71, 441
78, 546 / 1 0 , 1 0 9
420, 225
4, 000, 000 / 2 4 , 057- 1, 000, 000
72, 375
264, 677 11, 000, 000
128, 869
122, 275
5, 081, 747
741, 694
466, 548 / 22, 046
916, 400
1, 993, 800
2, 274, 692
1, 094, 926
L641
68, 205
155, 016 103, 023, 078
102,168, 354
Gold.
Kilos.
48, 902
35,913
43, 550
1,409
376
&1, 580
17
cZ109
10
/118
5,802
245
g h 116
/702
a3, 000
3,904
g l , 648
Silver.
Gold.
Kilos.
Dollars.
32, 500, 000 1,126. 083
7,781
23, 867, 935
28, 943, 217
2, 475
936, 223
703, 508
249, 890
214, 982
1, 050, 068
&47,118
11, 298
L500
893
72, 375
5- 32
el4, 500
6, 646.
2,164
78, 546 / 1 0 , 1 0 9
3, 856, 000 18, 283
72, 375 ^264, 677
163,000
128,106
741,694
466, 548 / 22, 046
1, 993, 800
2, 595, 077
1, 094, 926
^1,641
14, 291
Dollars.
46, 800, 000
323, 427
102,878
29, 237, 798
.8, 934, 652
1, 958. 224
62, 350
244, 954
17, 949
3, 096, 220
89, 916
420, 225
760, 000
11, 000, 000
5, 325, 000
588 2,645,589
109.952,251
916, 400
68, 205
594, 053
Kilos.
45,140
*35,913
t39, 873
1,438
457
1,638
37
dl09
*10
/118
*5, 802
5^109
*245
952
181
aS, 000
c5, 022
1,435
* E s t i m a t e d s a m e as oflScial s t a t e m e n t for 1882.
t Official for Y i c t o r i a a n d N e w S o u t h W a l e s , w i t h e s t i m a t e d p r o d u c t i o n of t h e o t h e r p r o v i n c e s .
% T h e m e a n of t h e official p r o d u c t i o n for 1880 a n d 1882.
§ A m o u n t p a r t e d from d e p o s i t s a t t h e S y d n e y a n d M e l b o u r n e m i n t s .
II C o i n a g e a n d e x p o r t .
it E s t i m a t e d s a m e a s official s t a t e m e n t 1880.
a Estimated b y Dr. A. Soetbeer.
h Official for H u n g a r y , w i t h f o r m e r a n n u a l official p r o d u c t i o n for A u s t r i a a d d e d .
c R e p o r t of C o n s u l D a l t o n , C o n s u l a r R e p o r t s for M a y , 1884, p a g e 394.
d E s t i m a t e d s a m e a s official s t a t e m e n t for 1877.
e E s t i m a t e d s a m e as official s t a t e r a e n t for 1880.
'
"
t E s t i m a t e d s a m e as official s t a t e m e n t for 1879.
g E s t i m a t e d s a m e as official s t a t e m e n t for 1881.
Silver.
Dollars.
Kilos.
30, 000, 000 1, 111, 4.57
23, 867, 935
*7, 781
26, 500, 000
^ 1 , 924
955, 639
711,347
303, 722
230, 694
1, 088. 615
48, 708
24, 590
],.583
5,645
72, 375
d432
674, 500
6,646
*2,164
78, 546 / 1 0 , 1 0 9
3, 856, 000
'18,283
72, 375
384, 923
163,000 *128,106
632, 520
120,080
8,488
1, 993, 800
3, 338, 0?>8
954, 000
g h 641
94, 027, 901 2, 747, 785
Dollars.
46, 200, 000
323, 427 '
80, 000
29, 568, 576
9, 589, 300
2, 024, 645
65, 800
234, 645
17. 949
3, 096, 220
89,916
420, 225
760, 000
16, 000, 000
5, 325, Odo
w
O
w
H
O
H
353, 825
68, 205
114, 217, 733
HH -
a
XXX.—COINAGE of VABIOUS COUNTBIES.
18 82.
1881.
1888.
Countries.
Gold.
$96,850, 890
438, 778
United States
Mexico
Bolivia
.
Hayti
-
Silver.
$27, 939,203
24,139, 023
1, 970, 983
Turkey
Chili
Colombia
.......
Switzerland
Honduras
Persia
20, 682, 625
•
-
1, 634,189
2, 429, 998
418, 231
......
.
. . . .
3, 253, 988
•
..
.rv.......
...
. .
.
340, 275
21, 067,127
245,160
490, 585
21,659
9, 028, 671
1. 299, 554
38, 055
1, 598, 346
28, 930
290,137
3, 080,193
4, 514, 043
Silver.
Gold.
$27,972,035
25,146, 260
1, 684, 865
1, 021, 381
18, 701, 959
170, 543
3,167, 085
2, 829, 590
722, 206
2, 016,117
29, 386, 322
6, 407,157
3,122, 819
223. 853
$29, 241, 990
*407, 600
Silver.
4, 530, 210
$29, 245, 989
*24, 083, 921
11,600,000
1, 715, 445
6, 831,169
15,903,722
*67, 044
21, 002, 897
2,154, 390
24, "927,'400
594, 464
5, 552,191
6, 201, 517
30, 876
1, 996, 310
162, 000
803, 645
608,
69,
17,
10, 671,
312
680
707
842
3, 294, 988
192, 708
436, 619
3, 327, 235
217, 080
964, 533
52,801
o
H
O
785, 027
81 095
37' 520
250, 468
10, 523,421
7,584 188
23, 589
4," 747, 800
12, 793, 575
1, 344, 640
2, 960, 056
125, 280
..
.
44, 606
3, 020, 000
.
699,114
..
965, 000
76, 314
Total
-•
:..
..
$65, 887, 685
452, 590
780, 000
4, 852, 523
. .
19, 699,115
India
Germanv
•
Austria-Hungary
France
Belgium
Italy
Netherlands
Norwav
Sweden
Spain
Portuo'al
Japan
. .
. . . .
Brazil
Roumania
Gold.
-.
" Fiscal year.
147, 015, 275
108, 010, 086
99, 909, 662
109, 703, 535
47,117
605, 579
101,265,357
113, 769, 901
t Approximate.
to
XXXI.—CIBCULATION—ConthmQd.
Population.
Countries.
Year
D a t e for
w h i c h circul a t i o n is
stated.
P e r capita.
Specie.
Paper.
Gold.
Silver, full legal tender.
Silver, limited tender.
Total.
Total paper
currency and
specie.
P a p r . ' Specie.
$19. 39
$872, 500, 000 $1, 745, 926, 755 $17. 41
$75, 000, 000
$873, 426, 755
$610, 500, 000
50,155, 783 Oct. 1, 1884
$187, 000, 000
United States
1880
19.25
876, 318,139
5.61
95, 000, 000
678, 500, 000
G r e a t B r i t a i n a n d I r e l a n d . . 1881
35, 246, 562 J u l y 26, 18S4
*197, 818,139
t583, 500, 000
D o m i n i o n of C a n a d a , including Manitoba and
3.07
59, 596, 084
15
+45, 770, 084
§4, 500, 000
13, 826, 000
Newfoundland
4, 506, 563 J u n e 30,
§9, 326, 000
1881
4.10
1, 099, 383,126
24
252, 541, 210 D e c . 31,
§02, 383,126
1, 037, 000, 000
British India
111,037.000,000
1881
.28
2, 335, 300
772, 000
2,758,166 Dec. 31, 1883
§1, 563, 300
• §772,000
.57
Ceylon
1881
Australia, Tasmania, and
25.01
96, 010, 722
§26, 010, 722
§5, 000, 000
70, 000, 000
9.03
N e w Zealand
2, 708, 898 D e c . 31, 1883
1881
41.54
7.22
§2, 441, 000
32,441,000
38,078, 000
780, 757 Dec. 31, 1883
C a p e of Good H o p e
1880
^ §5,637,000
38.30
L442, 900, 000
1, 990, 961, 912 ! 14.55
57, 900, 000
1881
37, 672, 048 S e p t . 18, 1884
France
^•*548, 061, 912
1537; 000, 000
352, 000
4.30
5.30
15, 215, 000
27, 567, 000
1877
2, 867, 626 Dec. 31, 1883
§5,915,000
Algiers
965, 750
5. 21
662,000
1, 627, 750
23. 52
185, 460 Dec. 31, 1883
281, 000
1878
Guadeloupe
12.11
1L81
**62, 826, 515
186, 326, 515
5, 585, 846 S e p t . 11, 1884
153, 000, 000
6, 500, 000
123, 500, 000
Belgium
1881
7.55
7.14
2, 846,102 S e p t . 6, 1884
**21, 480, 731
tlO, 000, 000
4, 700, 000
31, 700, 000
53,180, 731
Switzerland
1880
a32l, 548, 521
b']S, 000, 000
2.45
&34, 000, 000
212, 000, 000
533, 548, 521
1L30
28,4.52,639' J u n e 30, 1884
Italy
1881
§2, 702, 000
§23, 739, 000
5, 404, 000
29,143. 000
12.73
12,00
1882 I
1, 979, 423 Dec. 31, 1883
Greece
40, 000, 000
270, 812, 440
22.03
200, 000, 000
4.32
16, 625, 860 A u g . 30, 1884
c70, 812, 440
1877 '
30, 000, 000
Spain
.07
§44, 862, 543
73, 043, 543
32.17
1, 394, 516 D e c . 31, 1883
Cuba
1877
28,18L 000
200,000
4,198, 000
.27
.67
4, 450,191 D e c . 31, 1883
§2, 236, 000
Luzon
2, 998, 000
1880
Portugal, including Azores
46, 367, 680
8.79
4,550,699 D e c . 31, 1883
40, 000, 000
1.40
and Madeira
1878
6, 387, 680
§10, 000,
825, 473, 023
45, 235, 061 D e c . 31, 1883
545, 900, 000
12.06
Germany
000, 000
000
6.18
1880
109, 480, 000 tl.02,
279, 573, 023
431, 646, 314
35, 839, 428 Sept. 15, 1884
120,000,000
Austria-Hungary
3.35
1880
175, 000, 000
8.69
*"-311, 046, 314
623,
292
43,
058,
443
Sweden and Norway
1880
6, 479,168 D e c . 31, 1883
5,138,368
19,
435,151
3.65
3.00
23,
39, 228, 000
1880
18, 894, 000
Danish Kingdom
2, 096, 400 D e c . 31, 1883
9.70
9.00
4 9.58 000
20, 334, 000
847,
949
163,
847,
949
1883
85,
000,
000
4,172,921 Sept.-13, 1884
14.10
20.37
Netherlands
157,000
000
**78,
646, 431, 794
1880
98, 323, 000 A u g . 13, 1884
124, 008,153
Russia
5.31
0-522, 423, 641
L26
83, 315, 976
1880
24, 987, 000 D e c . 31, 1883
74, 800, 000
35, 200, 000
Turkey
8, 515, 976
3.00
.34
27, 372, 383
1881
11,550,000
Roumania
5, 376, 000 Dec. 31, 1883
. §11, 387, 000
2.15
2.94
§15, 822, 383
048,
529
52, 048, 529
1883
1880
J
u
n
e
30,
50,
000,
000
9, 787, 629'!
Mexico
§40, 000, 000
5.23
e2,
.21
4,701,861
1881
2,891,600 D e c . 31, 1883
Central America
§374, 000
2, 692, 000
^2, 009, 861
.06
.93
71, 371, 850
1880
2, 540, 000 D e c . 31. 1883
Argentine Republic
g9, 000, 000 • g l , 720, 000
50, 651, 850
20, 720, 000
19.94
8.1.5
•'^ L o n d o n B a n k e r s ' M a g a z i n e for S e p t e m b e r , 1884.
** L o n d o n E c o n o m i s t . S e p t e m b e r 20, 1884.
/ " N e w c o i n a g e , $6,000,000: foreign gold e s t i m a t e d ,
t E s t i m a t e of l a s t y e a r , w i t h n e t i m p o r t s added,
a L o n d o n E c o n o m i s t , A u g u s t 30, 1884.
$4,000,000.
deducting consumption.
b " W a h r u n g ' s P o l i t i k , " 1884, b y O t t o m a r H a u p t .
g E s t i m a t e d from t o t a l specie c i r c u l a t i o n r e p o r t e d
I N e w Y o r k C h r o n i c l e , A u g u s t 2, 1834.
c L o n d o n E c o n o m i s t , S e p t e m b e r 13, 1884.
by D n i t e d S t a t e s m i n i s t e r .
I E s t i m a t e in l a s t r e p o r t .
d B a n k r e s e r v e only.
e L o n d o n E c o n o m i s t , S e p t e m b e r 15, 1883.
I E s t i m a t e of l a s t y e a r , a d d i n g c o i n a g e a n d deducting consumption;
H
O
i2j
o
GO
XXXI.—CIBCULATION—Contimied.
Popnlation.
Ol
o
Countries.
-bO
^
Year.
Colombia
Brazil
Peru
.:
Yenezuela
Chili
Bolivia
Uruguay
Hayti
Japan
Hawaiian Islands.
.1881
1882
1876
i88r
1876
1876
1880
1877
1883
1882
Lifttest.
3,000, 000
11,831,326
3, 050, 000
2, 075, 245
2,420,500
2,325, 000
438, 245
572, 000
36, 700,110
66,895
U a t e for
w h i c h circulation is
stated.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Paper.
Gold.
$1, 097,
139, 871,
§13, 098,
559,
§26, 555,
1, 508,
§5, 986,
112, 411,
335,
3, 943, 746, 608
Total.
31,1883
31,1883
31,1883
31,1883
31,1883
31,1883
31.1883
31,1883
31,1883
31,1883
P e r capita.
§ Estimat© in last report.
Silver, full l e gal tender.
Silver, limited tender.
$4,000,000
§$62, 000
g2, 000, 000
§$1, 820, 000
^123, 000
§4, 601, 000
§4, 000, 000
92, 000, 000
549, 900
3, 293, 606, 836
950, 000
2, 310, 680, 712
443,930,368
Total.
$4, 000, 000
1,882,000
2,123, 000
6, 000, 000
5, 400, 000
5, 601, 000
4, 780, 000
136, 333, 712
1, 499, 900
6, 048, 217, 916
Total paper
currency and
specie.
097, 830
139, 871,255
14, 980, 820
2, 682, 700
32, 555, 341
6. 908. 533
11, 587, 000
4. 780, OOO
248; 744, 805
1, 834, 900
9,991,964,524
g Estimated from total specie circulation reported by United States Minister..
P a p e r . Specie.
$0.36
1L82
4.29
.27
10.97
65
13.66
3.06
5.01
$L33
w
o
H
O
o
w
125
X X X l l . - T A B L E of GOVEBNMENT and BANK ISSUE and METALLIC BESEBVES.
to
GO
B u l l i o n a n d coin i n Paper.
Countries.
Treasury.
Date
referred to.
Banks.
Aggregate.
Government
issue.
United States
G r e a t Britain and Ireland.
D o p i i n i o n of C a n a d a ,
including Manitoba
and Newfoundland.
British India
Ceylon
Australia, Tasmania,
a n d N e w Zealand.
C a p e of Good H o p e —
France
Algiers
Guadeloupe
Belgium
,
Switzerland
B a n k issue.
*$537, 597, 527| $335, 829,228
*197, 818,139
J u n e 30,1884
tl6,115, 0841 t29, 655, 000
45, 770, 084
Dec. 31,1883
Dec. 31,1883
Dec. 31,1883
|62, 383,126
62, 383,126
1, 563, 300
26, 010, 722
+1, 563, 300
|26, 010, 722
t5, 637, 000
§548, 061, 912
+12, 352, 000
+965, 750
§62, 826, 515
§21, 480, 731
157, 674, 000 11163,874,521
+23, 739. 000
1170, 812, 440
+44, 862, 543
+1, 200, 000
6, 367, 680
5, 637, 000
548, 061, 912
12, 352, 000
965, 750
62, 826, 515
2L 480, 731
t2, 471,148
+35, 798
^50, 608
$534, 033, 074
154,182. 691
16, 640, 000
9, 111, 148
+7, 720, 000
t l , 273, 800
7, 720, 000
1, 273, 800
48, 737, 837
78, 358, 000
1,273, 800
48, 737, 837
H
O
+8, 092, 000
§204, 650, 036§198, 289, 718
+1, 930, 000
+3,474,000
t329, 914
t50, 300
8, 092, 000
402,939, 754
5, 404, 000
380, 214
§17,991,450
§11. 484, 940
8, 092, 000
402, 939, 754
5, 564, 476
564,935
17, 991, 450
I L 609, 618
rt
1169, 357, 358
69, 357, 358
j l , 800, 000
T[25,281,467
11, 040, 028
11,718,874
1, 800, 000
27, 223, 959
14,181,243
3, 765, 677
11,718,874
153,146, 674
181, 706, 674
2,471,148
+124, 678
tl34,113
160, 476
184, 721
47, 092
124, 678
23,
70,
44,
1,
6,
739,
812,
862,
200,
367,
279, 573, 023
28, 560, 000
139, 678, 804 §171, 967, 510
23, 623, 292
20, 234, 000
311, 646, 314
23, 623, 292
20, 234, 000
157, 088
§75, 060, 896
78, 847, 949
522, 423, 641
8, 515. 976
* ^ N o t i n c l u d i n g g o l d a n d s i l v e r c e r t i f i c a t e s i n t h e T r e a s u r y , $60,316,430.
X Same as last report.
i[ L o n d o n E c o n o m i s t , S e p t e m b e r 13,1884.
929,178
1, 627, 723
+2, 528, 276
1, 942, 492
+3,141, 215 +11, 040, 028
3, 765, 677
11, 718, 874
28, 560, 000 153,146,674
3, 799, 492
173, 308
Total.
$139,661,681
*154,182, 691
321,548,521
245, 099, 778
11522, 423, 641
~L 365,100 !
'7,i56,876|
Silver.
Gold.
+48, 737, 837
314.719
13,141,215
t l , 237,401
3, 787, 053
Total.
+70, 638, 000 70, 638, 000
000
440
543
000
680
34, 473, 245
Silver.
$873,426,755 $217, 904, 042 $176,467,351 $394, 371, 393$127, 682, 848 $11, 978, 833
197, 818,139
Oct. 1,1884
J u l y 26,1884
Dec. 31,1883
Sept. 18,1884
Dec. 31,1883
Dec. 31,1883
Sept.ll, 1884
Sept. 6,1884
Dec.
31,1883>
Italy
5
June 30,1884^
Dec. 31,1883
Greece
Aug. 30,1884
Spain
Dec. 31,1883
Cuba
Dec. 31,1883
Luzon
Portugal,
i n c l u d i n g Dec. 31,1883
Azores and Madeira.
Germany
Dec. 31,1883
Austria-Hungary
^ Dec. 31,1883?
Sept.15,18845
S w e d e n a n d N o r w a y . . Dec. 31,1883
Danish Kingdom
Dec. 31,1883
Netherlands
| Sept.l3,1884>
Dec. 29,18835
Russia
.
Ang. 13,1884 i
Dec. 31,1883 I
Turkey
Gold.
Total.
4, 728, 670 §31, 213, 731 §62.189, 000
93, 402, 731
98,13L401
876, 916
938, 000
12, 410, 579
14, 070, 000
12, 740, 975
14, 070, 000
330, 396
11,533,663
13, 132, 000
§17,213,810
11124,008,153
3, 520,000
* L o n d o n B a n k e r s ' M a g a z i n e , S e p t e m b e r , 1884.
) L o n d o n E c o n o m i s t , S e p t e m b e r 20,1884
§37, 900, 302
55,114,112
55,114,112
11, 000, 000
124, C08,153
14, 520, 000
124, 008,153
14, 520, 000
t N e w Y o r k C h r o n i c l e , A u g u s t 2,1884.
II L o n d o n E c o n o m i s t , A u g u s t 30, 1884.
o
o
rt
CO
XXXII.—TABLE of GOVEBNMENT and BANK ISSUE and METALLIC BESEBVES—Continued.,
B u l l i o u a n d coin in—
Paper:
Countries.
Date
referred to.
Treasury.
Banka.
Aggregate.
Government
issue.
Roumania
...
Me.xico
Central America
Argentine Republic ..
Colombia
Brazil
Peru
Yenezuela
Chiii
Bolivia
Uruguay
Japan
Hawaiian Islands
-..
Total
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Bank issue.
31,1883
+$2,333,704 +$13, 488, 679
iil, 1883
+2, 058, 329
31,1883
420, 000
1,'589,'861
31,1883
50, 651, 850
31,1883
+1, 097, 830
3 L l 8 i : 3 - " 1 2 8 , 028,'897
11,842,357
31,1883
t l 3 , 098,-820
31,1883
559,700
31,1883
+26, 555, 341
31,1883
1, 508, 533
31.1883
+2,086,000
+3, 900, 000
31,1883
85,161, 371
27, 249, 722
31, 1883
335, 000
Total
,
$15, 822, 383
2, 058, 329
2, 009, 861
50,651,850
1, 097, 830"
139, 871, 254
13, 098, 820
559, 700
26, 555, 341
1, 508, 533
5, 986, 000
112, 41L 093
335,000
L 191,158, 368 2, 752, 498, 039 3, 943, 656, 407
Silver.
Gold.
+$31,149
'
+$55,243
Total.
$86, 392
Gold.
+$132,276
. +62,085
Silver.
Total.
+$3,776 630
. $3,908,906
U , 763,008
$3, 995, 298
1, 763, 008
t200, 000
14,196, 461
200, 000
14,196, 461
200, 000
+1, 819, 933
1, 882, 018
1, 882, 018
+1, 600, 000
443, 597
4, 60L000
5, 817, 044
108, 750
2,398,000
443, 597
4, 601, 000
28,486, 973
808, 200
+798,000
1443, 597
8, 040, 751
263, 450
14, 629,178
436, 000
22, 660, 929
699, 450
|4, 601, 000
512, 261
95, 250
263, 214,133
270, G60, 504
534, 672, 637
774, 896, 440
5, 304, 783
13, 500
w
O
O
345, 705, 312 1,424,899,127 1, 959, 571, 764
rt
J Same as last report.
260
REPORT
ON T H E
FINANCES.
X X X l l l . — T A B L E shoioing the TOTAL P A P E B and S P E C I E CIBCULATION in
each of the P B I N C I P A L COUNTBIES of the WOBLD, the AMOUNT of S P E C I E
in BANK and NATIONAL TBEASUBIES, and the AMOUNT of ACTIVE CIBCULATION
Countries.
Population.
A m o u n t of
Total metallic
specie in h a n k s
and paper
and national
circulation.
treasuries.
A c t i v e circulation.
Ill
'^
CO
p
^ a o
P4
United States
G r e a t Britaiii and Ireland .
D o m i n i o n of C a n a d a , including Manitoba and Newfoundland
British India
Ceylon
Australia, Tasmania, and
New Zealand..!
C a p e of Good H o p e
France
Algiers
Guadeloupe
Belgium
Switzerland
Italy
Greece
Spain
Cuba
Luzon
Portugal, including Azores
and Madeira
Germany
Austria-Hungary.
,..
Sweden and Norway
Danish Kingdom
Netherlands
Russia
Turkey
Roumania
Mexico
Central America
A r g e n t i n e .Republic
Colombia
Brazil
Peru
Yenezuela
Chili
Bolivia
Uruguay
Hayti
Japan
Hawaiian Islands
50,155,783
35,246,562
$1,745, 926, 755
876,318,139
$534, 033, 074
154,182,691
$1,211, 893,681
722.135,448
$24.16
20.4&
4, 506, 563
252, 541, 210
2, 758,166
59, 596, 084
1, 099, 383,126
2, 335, 300
9, 111, 148
78, 358, 000
1, 273, 800
50, 484, 936
1,021,025,126
1, 061, 500
11, 22
4.05
2, 798, 898
780, 757
37, 321,186
2,867, 626
185. 460
5, 536, 654
2, 846,102
28,452, 639
1, 979, 423
16, 625, 860
1,394,516
4,450,191
96, 010, 722
38,078,000
1. 990, 961, 912
27, 567, 000
1, 627, 750
186, 326, 515
53,180,731
533, 548, 521
29,143, 000
270, 812, 440
73, 043, 543
4,198, 000
48, 737, 837
' 8, 092, 000
402, 939, 754
. 5,564,476
564, 935
17, 991, 450
11, 609, 618
69,357, 358
L 800, 000
27, 223, 959
14,181, 243
3, 765, 677
47, 272, 885
29, 986, 000
1, 588; 022,158
22, 002, 524
i, 062, 815;
168,335,065:
41,571,113
464,191,163
27,343,000
243, 588,481
58,862,300
432, 323
16.90
38.40
42, 55
7.67
5.73
30.40
14. 60
16.31
13.81
14.65
42. 21
.10
4, 550, 699
45, 234, 061
35, 839, 428
6, 479,168
2, 096, 400
4, 061, 580
98,323,000
24, 987, 000
5, 376. 000
9, 557, 279
2, 891, 600
2, 540, 000
3, 000, 000
11,108, 291
3, 050, 000
2, 675, 245
2,420, 500
2, 325, 000
•• 438,245
572, 000
36, 700,110
66, 895
46,367,680
825,473, 023
431,646,314
43, 058, 443
39, 228, 000
163, 847,949
646, 431, 794
83,315,976
27, 372, 383
52, 048, 529
4,70L861
71, 371, 850
5, 097, 830
139, 871, 255
14,980,820
2, 682, 700
32, 555, 341
6, 908, 533
11, 587, 000
4, 780, 000
248, 744, 805
1, 834, 900
11, 718, 874
181, 706, 674
98,131. 401
12. 740, 975
14, 070, 000
55,114,112
1-24, 008,153
14, 520, 000
3,995,298
1, 763, 008
28,486, 973
808, 200
34, 648, 806
643, 766, 349
333, 514, 913
30, 317, 468
25,158, 000
108, 733, 837
522, 423, 641
68. 795, 976
23, 377, 085
50, 285, 521
4, 701, 861
57,175, 389
4, 897, 830
139, 871, 255
13, 098, 802
2, 682, 700
30,157, 341
6, 464, 936
6, 986, 000
4, 780, 000
220, 257, 832
1, 026, 700
9, 991, 964, 524
1,959, 571, 764
8,032, 392, 760
14,196, 461
200,000
1, 882, 018
2,398, 000
443, 597
4, 601, 000
.3S
7.61
14.23
9.31
4. 68
12. 00
26.77
5.31
2.75
4.35
5 26
L62
22.51
L63
12.59
4.20
LOO
12.45
2.78
15.04
8.35
6. OO
15.35'
NOTE.—Table XXXIV ("Monetary Statistics of Foreign Conntries") is omitted for
want of space. I t will be found in the separate volumes of the Director^! report.
REPORT OF THE FIRST COMPTROLLER.
^1
REPORT
THE FIRST COMPTROLLER OF THE TREASURY.
TREASURY DEPARTMENT,
F I R S T COMPTROLLER'S O F F I C E ,
^
Washington^ October 31, 1884.
S I R : In compliance with tbe request made in your letter of September 13, 1884, I have the lionor to submit the following report of the
transactions of this office during the fiscal year which ended June 30,
1884.
.
The following-described warrants were received, examined, countersigned, entered into blotters, and posted into ledgers under their proper
heads of appropriations:
Number
of warrants.
Kind.
Amounts.
APPROPRIATION.
Treasury proper
Public debt
Diplomatic and consular
Customs
Internal revenue
Interior civil
Indians and pensions
War..
Navy
-
$30,313,238
315, 099,413
1, 217,635
20, 416, 911
9, 329,220
8, 935,565
94, 081,416
34, 276, 48!)
15, 333,121
.-
08
98
00
07
63
84
15
41
99
529, 003, 018 15
ACCOUNTABLE AND SETTLEMENT.
Treasury proper
Public debt.-•.
Quarterly salaries
Diplomatic and consular
Customs
Internal revenue
Judiciary
Interior civil
Indians and pensions
War
Navy '.
,
'
,
:
3,536
68
L846
3,016
3,626
8,241
3,206
2, 846
4,452
3,718
2,530
28, 402, 885 60
315,099,413 98
582, 352 58
1, 434, 549 33
23,696,061 75
8, 678, 999 49
3, 253, 918 66
8,688,320 14
78, 555, 282 03
40,980,442 78
23,695,657 31
37, 085
533,067,89J 65
519
1,951
342
16, 650, 054 70
1. 550, 819 42
6,413, 054 87
COVERING.
Indians and pensions repay
War repay
.*
Navy repay
Miscellanebus repay: Interior civil, Treasury, customs, judiciary, diplomatic and consular, internal revenue, and public lands
Miscellaneous revenue covering warrants
Customs covering warrants
Internal-revenue covering warrants
Land covering warrants
2,514
3, 823, 086 58
5,326
28, 437,015 57
10, 362
1,586
1,473
1,410
228, 933,
195,067,
121, 586,
9, 810,
14, 831
555, 397,755 92
263
488
489
072
705
64
76
51
01
264.
REPORT ON T H E FINANCES.
RECAriTULATION.
..^Pay, repay, and appropriation warrants
. Miscellaneous and internal revenue and lands and customs covering
42, 534
14, 831
Total warrants received and passed
. Miscellaneous requisitions registered and countersigned
.. Recxuisitions on chief clerk and stationery clerk of the Department
57, 365
.851
351
Grand total
58, 567
, Accounts have been received from the auditing offices, revised, re' corded, and the balances thereon certified to the Eegister of the Treasiiry, as follows:
Kind.
N o . of
N o . of
accounts. vouchees.
A m o u n t involved.
FROM THE FIRST AUDITOR.
1. J t i d i d M r y :
A c c o u n t s of m a r s h a l s for t h e i r fees a n d for e x p e n s e s of c o u r t s ,
of d i s t r i c t a t t o r n e y s a n d t h e i r a s s i s t a n t s , of c l e r k s of c o u r t s ,
of c i r c u i t c o u r t c o m m i s s i o n e r s , a n d a c c o u n t s for r e n t of
J u d g m e n t s b y C o u r t of C l a i m s e x a m i n e d a n d o r d e r e d p a i d
Total
2. P u b l i c D e b t ;
4,624
12
112, 963
12
$5, 539,162 21
33, 999 55
4,636
112, 975
' 5, 573,161 76
126 1, 968, 621
10, 447, 738 97
,
A c c o u u t s of t h e T r e a s u r y of t h e D n i t e d S t a t e s :
F o r c o u p o n s of T r e a s u r y noteSj L o u i s v i l l e a n d P o r t l a n d C a n a l
s t o c k , a n d old f u n d e d d e b t of t h e D i s t r i c t of C o l u m b i a
F o r b o n d s of t h e D i s t r i c t of C o l u m b i a p u r c h a s e d for s i n k i n g
funds
F o r United States bonds redeemed
F o r Lonisville and Portland Canal stock
. . . .
F o r unclaimed interest
F o r i n t e r e s t on Pacific K a i l r o a d s t o c k ( r e i m b u r s a b l e )
F o r c h e c k s for i n t e r e s t on t h e p u b l i c d e b t
F o r gold certificates a n d r e f u n d i n g certificates
F o r certificates of d e p o s i t (act J u n e 8, 1872
FOI- legal-tender n o t e s , old d e m a n d n o t e s , f r a c t i o n a l c u r r e n c y ,
s i l v e r certificates, a n d gold certiflcates (act J u l y 12, 1882) —
F o r c o m p o u n d - i n t e r e s t , s e v e n - t h i r t y , a n d o t h e r old T r e a s u r y
notes
.F o r i u t e r e s t on N a v y p e n s i o n fund
F o r s i n k i n g fund for b o n d s of t h e U n i o n Pacific R a i l r o a d Com-
35
47, 840
5
28
1
4
12
252
25
13
733
24, 042
3
9
790
360, 256
8,798
3,018
62
2,146
43
1
370
1.
744,930 10
291 575
94, 390, 355
3 000
3 118
1,556 866
56,671,977
573, 354
27 630, 000
09
34
00
00
90
60
72
00
142, 386, 431 86
15, 097 26
630, 000 00
6
1, 668, 925 00
608 2, 416, 633
337, 013, 370 84
790
26, 643
3 OSO 761 32
1,156
' 13,367
250, 000 00
471
4,994
332
114, 740
1
3. P u b l i c B u i l d i n g s :
A c c o u u t s for t h e c o n s t r u c t i o n of p u b l i c b u i l d i n g s t h r o u g h o u t
t h e U n i t e d S t a t e s , t b e fire-proof b u i l d i n g for t h e P e n s i o n
Office, a n d t h e b u i l d i n g s for S t a t e , W a r , a n d N a v y D e p a r t m e n t s ; for r e c o n s t r u c t i n g t h e e a s t e r n p o r t i o n of t h e S m i t h sonian I n s t i t u t i o n , t h e c o m p l e t i o n of t h e W a s h i n g t o n M o n u m e n t , t h e c a r e of p u b l i c b u i l d i n g s a n d g r o u n d s u n d e r t h e
Chief of E u g i n e e r s , U . S. A . ; for a n n u a l r e p a i r s o f t h e Capi t o l a n d i m p r o v i n g t h e C a p i t o l g r o u n d s ; for c o a s t a n d geodetic surveys, the World's Industrial and Cotton Centennial
E x p o s i t i o n a t N e w Orleans, a n d for t h e b e n e f i c i a r y i n s t i t u t i o n s iu t h e D i s t r i c t of C o l u m b i a . .
4. S t e a m b o a t s :
. A c c o u n t s for s a l a r i e s a n d i n c i d e n t a l e x p e n s e s of i n s p e c t o r s of
hulls and boilers
5. T e r r i t o r i a l :
A c c o u n t s for s a l a r i e s of t e r r i t o r i a l officers a n d for t h e legisl a t i v e a n d c o n t i n g e n t e x p e n s e s i n c i d e n t a l to t h e g o v e r n m e n t
of t h e T e r r i t o r i e s
288, 431 00
6» M i n t a n d A s s a y :
A cer,tints for golcl, silver, a n d n i c k e l c o i n a g e ; for b u l l i o n ; for
s a l a r i e s of t h e officers a n d e m p l o y 6 s of t h e s e v e r a l m i n t s ,
ancl for t h e g e n e r a l e x p e n s e s of t h e s a m e ; a n d for b u l l i o n
•deposits, p u r c h a s e s a n d t r a n s f e r s
138, 435 039 12
265
FIRST COMPTROLLER.
Kind.
No. of
No. of
accounts. vouchers.
Amount involved.
FROM THE FIRST AUDITOR—Continued.
7. Transportation:
Accounts for transportation of gold and silver coin, and bullion ; minor and base coin. United States currency, nationalbank notes, complete, and incomplete coin certificates ; registered ancl coupon bonds; rautilated cuiTency; canceled
aud incomplete securities : national-bank notes for redemption ; stamp, paper, stationery, boxes, parcels, &c
202
61, 527
$161, 980 22
85
4,289
704,644 10
113
148
259
72, 775
6, 527, 529 76
185
41, 372
3, 335, 449 68
42, 515
1, 392, 418,175 86
8. Congressional:
Accounts for the officers and employes, and for contingent
and other expenses of the United States Senate and House of
Representatives
-.
9. Outstanding Liabilities:
Accounts arising from demands for payment of drafts and disbursing-officers' checks, which have remained outstanding
for three years, the funds from which they were j)ayable
having been covered into the Treasury
10. District of Columhia:
Accounts of the Commissioners of the District of Columbia,
and general accounts between the United States, and said
District
,
11. Public Printing:
Accounts of the Public Printer for the salaries and wages of
the employes of the Government Printing Office; for the purchase of materials for printing, and for contingent expenses
of the Government Printing Otiice
12. Treasurer's General Accounts:
Quarterly accounts ofthe Treasurer of the United States for receipts and expenditures, including receipts from all sources
covered into the Treasury,-and all payments made from the
Treasury
13. Assistant Treasurers' Accounts •
Accounts of the several assistant treasurers of the United
• States for the salaries of their employ6s and the incidental
expenses of their offices
347, 700 98
14. Miscellaneous:
Accounts of the disbursing officers of the Executive Departments for salaries of officers and employes, and contingent
expenses of the same; accounts for salaries of Senators and
Representatives in Congress; for salaries of the judges of
the United States Supreme Court, United States circuit and
district judges, district attorneys, and marshals ; for salaries
and contiugent expenses ofthe National Board of Health; and
for the expenses of the tenth census
Total from First Auditor.
5,028
390, 327
23.836,451 06
13, 919 3,304,162
1,912,014,947 53
43, 398
38, 533
1,676
283,142, 908 73
3,174, 044 42
251, 373 66
FROM T H E F I F T H A U D I T O R .
15. Internal Bevenue:
Accounts of collectors of internal revenue
Accounts of same actiug as disbursing agents
Accounts of internal-revenue stamp agents
IkJ iscellaneous internal-revenue accounts, including directtax accounts with the States, and with direct-tax commissioners; accounts with collectors for disbursements
uuder the appropriation for punishment for violation of internal-revenue laws, and for expenses of seizure and sale of
property for the violation of said laws; seven different
monthly accounts with the Commissioner of Internal Revenue for internal-revenue stamps ; accounts Avith the Secretary of the Treasury for deposits made in compromise cases,
and for fines, penalties, and forfeitures; accounts with Treas. ury Department for stationery fuinished to internal-revenue
oflScers; accounts with the disbursing clerk for payment of internal-revenue agents and gaugers, and for disbursements
under tliree other different appropriations; accounts for refunding taxes illegally collected, and taxes on spirits de-
814
58
266
REPORT ON THE FIANNCES.
N o . of
N o . of
accounts. vouchers. Amount involved
Kind.
FROM THE FIFTH AUDITOR—Continued.
15. I n t e r n a l B e v e n u e — C o n t i n u e d .
s t r o y e d , a n d for t h e r e d e i n p t i o n of i n t e r n a l - r e v e n u e s t a m p s ;
a c c o u n t s for r e w a r d s for i n f o r m a t i o n a n d o t h e r e x p e n s e s of
d e t e c t i n g a n d s u p p r e s s i n g v i o l a t i o n s of i n t e r n a l - r e v e n u e
l a w s ; e x p e n s e a c c o u n t s of r e v e n u e a g e n t s a n d d i s t i l l e r y surv e y o r s ; also d r a w b a c k a c c o u n t s , a n d a c c o u n t s for p a p e r for
i n t e r n a l - r e v e n u e s t a m p s ; for t r a n s p o r t a t i o n of s t a t i o n e r y ,
a n d for p u r c h a s i n g h y d r o m e t e r s , a n d s t a m p s a n d dies, a n d
l o c k s a n d seals, &c
.•
. .
6,405
54,206
$26, 400,171 18
2,694
52„128
6, .537, 704 03
16. F o r e i g n I n t e r c o u r s e :
A c c o u h t s for t h e s a l a r i e s of m i n i s t e r s , c h a r g 6 s d'affaires, cons u l s , c o m m e r c i a l a g e n t s , i n t e r p r e t e r s , s e c r e t a r i e s t o legation's; a n d m a r s h a l s of c o n s u l a r c o u r t s ; a c c o u n t s for t h e relief a n d p r o t e c t i o n of A m e r i a n s e a m e n , for e x p e n s e s of p r i s o n s in C h i n a a n d J a p a n , for c o n t i n g e n t e x p e n s e s a n d clerkh i r e of l e g a t i o n s a n d c o n s u l a t e s , for s a l a r i e s a n d e x p e n s e s of
m i x e d c o m m i s s i o n s ; a c c o u n t s of U n i t e d S t a t e s b a n k e r s i n
L o n d o n ; a c c o u n t s of t h e d i s b u r s i n g clerk. D e p a r t m e n t of
S t a t e , for m i s c e l l a n e o u s d i p l o m a t i c e x p e n s e s , &c
17. T r a n s p o r t a t i o n :
A c c o u n t s for t r a n s p o r t a t i o n of i n t e r n a l - r e v e n u e m o n e y s to t h e
s u b t r e a s u r i e s a n d d e s i g n a t e d d e p o s i t o r i e s , a n d for t h e t r a n s p o r t a t i o n of s t a t i o n e r y , &c., t o i n t e r n a l - r e v e n u e officers
T o t a l from F i f t h A u d i t o r
:
' 25
8,577
5, 432 94
10,465
198,518
319,511,634 96
240
595
555
500
2,790
LOOl
14, 316
2,217
PROM T H E COMMISSIONER O F T H E GENERAL L.IND O F F I C E .
18. P u b l i c L a n d s :
^^
A c c o u n t s of s u r v e y o r s - g e n e r a l a n d t h e e m p l o y e s in t h e i r offices.
A c c o u n t s of d e p u t y s u r v e y o r s
A c c o u n t s of r e c e i v e r s of p u b l i c m o n e y s
A c c o u n t s of s a m e a c t i n g as d i s b u r s i n g a g e n t s
A c c o i i n t s for t h e r e f u n d i n g of p u r c h a s e m o n e y paicl for l a n d s
e r r o n e o u s l y sold
M i s c e l l a n e o u s a c c o u n t s , s u c h as^ a c c o u n t s w i t h t h e s e v e r a l
S t a t e s for i n d e m n i t y for s w a m p a n d overflowed l a n d s erron e o u s l y sold, a n d for 2 p e r cent., 3 p e r cent., a n d 5 p e r c e n t ,
u p o n t h e p r o c e e d s of sales of p u b l i c l a n d s ; a c c o u n t s of surv e y o r s - g e n e r a l for t h e c o n t i n g e n t e x p e n s e s of t h e i r offices;
a c c o u n t s for t h e s a l a r i e s a n d c o m m i s s i o n s of r e g i s t e r s of local l a n d offices n o t p a i d b y t h e r e c e i v e r s ; a c c o u n t s w i t h t h e
K a n s a s , D e n v e r , C e n t r a l , N o r t h e r n , a n d TJnion Pacific Railr o a d s for t h e t r a n s p o r t a t i o n of s p e c i a l a g e n t s of t h e G e n e r a l
L a n d Office; a c c o u n t s for p r i n t i n g a n d s t a t i o n e r y f u r n i s h e d
t h e s e v e r a l s u r v e y o r s - g e n e r a l , r e g i s t e r s , a n d r e c e i v e r s ; acc o u n t s , of s p e c i a l a g e n t s of t h e I n t e r i o r D e p a r t m e n t ; acc o u n t s *for t h e t r a n s p o r t a t i o n of p u b l i c m o n e y s from t h e local l a n d offices t o d e s i g n a t e d d e p o s i t o r i e s ; a c c o u n t s for sala r i e s a n d i n c i d e n t a l e x p e n s e s of a g e n t s e m p l o y e d t o e x a m i n e
. a n d v e r i f y p u b l i c s u r v e y s , for t h e r e t u r n of d e p o s i t s i n excess of t h e a m o u n t r e q u i r e d for t h e s u r v e y of p r i v a t e l a n d
claims, for t h e t r a n s p o r t a t i o n of s t a t i o n e r y t o t h e s e v e r a l
d i s t r i c t land-offices, &c
350,131
1. 422, 736
i, 683, 496
643, 421
43
40
20
45
39, 980 29
629
4, 725
1, 387, 043 28
844
T o t a l from C o m m i s s i o n e r of G e n e r a l ^ L a n d Office
3, 363
33,146
11, 526, 809 05
REC A P I T U L ATION.
From—
FirstAuditor
,
Fifth Auditor .
C o m m i s s i o n e r of G e n e r a l L a n d Office
Total
Number.
. .
.
.
Vouchers.
A m o u n t involved.
13, 919
10, 465
3, 363
3, 304,162
8,097
198,518
33,146
$1, 912, 014, 947 53
319, 51L 634 QQ
11, 526, 809 05
27, 747
3, 535, 826
2, 243, 053, 391 54
FIRST
267'
COMP'i\ROLLER.
Eequisitions for the advance of money from the Treasury, in the number following, ha.ve been examined and advances thereon recommended s
Internal revenue
Foreign intercourse
Judiciary
Public buildings . . .
Mint and assay
District of Columbia
Territorial
Public printing
Miscellaneous.
.°
;
-
:......
'...
Total
4,262
Schedules.
Rehate of tax on tobacco of manufacturers, payable
in stamps
Rehate of tax on tol)acco of dealers, payable out of
appropriation
Total
1,093
1, 621
529
172
380
98
58
142
169*
Claims.
Vouchers.
Amount.
154
990
647
45, 802
229, 010 3, 537, 538 55>
801
4^792
234, 637 3, 729, 851 10
5, 627
$192, 312 55-
Official letters written
Letters received, briefed, and registered
Powers of attorney recorded
Official bonds registered and filed
Nuinber of internal-revenue special-tax stamp books counted and certified..
Number of internal-revenue tobacco-stamp books counted and certified
Number of internal-revenue spirit stamp-books counted and certified
Orders for special allowances to collectors examined, recorded, and referred.
Stamp agents' bonds examined^ registered, and filed
Reports on accounts corapared and transmitted
,..
Collectors' tax-list receipts (Form 23^) registered, scheduled and referred-..
Copies of public-land accounts made, compared, and transmitted
Folios copied
14,427
6,421
913.
905
5, 915
12,658
10,553
320
24
1,39&
1,080
1,276
12,360-'
The foregoing statement omits mention of a large amount of official
work which does not admit of systematic classiflcation and detailed report, and yet has occupied much time and care, such as, e.g., investigation of legal points arising in the adjustment of accountsand the preparation of opinions and decisions printed under the authority of Congress;
the examination of, and decision upon, applications for the issuing of duplicate bonds and other securities lost and destroyed; examination of
powers of attorney for collection of money due to creditors of the United
States; decisions upon the rights of persons claiming to be executors,
administrators, or heirs of. deceased claimants to receive money due
from the Uuited States ; examination of official bonds; copying of letters forwarded; answering calls for information made by Oongress, the
Departments, and private persons; receiving and examining emolument
returns, and other work of a miscellaneous character.
ADDITIONAL CLERKS.
I t is impossible with the present clerical force of this office to promptly
transact the public business therein. I respectfully recommend that
Gongress be asked to appropriate for one additional clerk of class 4^
two additional clerks of class 3, and two additional clerks of class 2.
These will be required, for at least one year.
In this office the work of the division of accounts settled by the Commissioner of the General Lknd Office is fully two years behind. The
268
REPORT ON THE FINANCES.
work in some other divisions is also in arrears. It is a great hardship and Avroug to claimants that there should be any cousiderable delay in the settlement of their accounts. It may result also in loss to the
Oovernment.
JURISDICTION TO R E Q U I R E STATEMENTS OF ACCOUNTS.
Section 236 of the Revised Statutes provides that—
''All claims and demands whatever by the United States or against
them, and all accounts whatever in which the United States are concerned, either as debtors or as creditors, shall be settled and adjusted
in the Department of the Treasury.''
I t may sometimes happen that the First Oomptroller, in the examination of an account, or otherwise, will ascertain that some party is indebted to the United States against whom an account should be stated
by an auditing officer, in order that a balance may be certified as due
to the United States from such party. Thus, if a party having money
due to him from the United States is surety on the bond of a defaulting
officer, it is only just t h a t a u account should be stated against such officer and suret3^ in order that a set-off may be made. In those cases in
which the salary of any officer should be retained to meet his liability
as surety on the bond ofa defaulting officer, it becomes necessary that
accounts be stated (McKnight v. United States, 98 U. S., 185; Pease's
CasCj 4 Lawrence, Compt. Dec, 502). The First Comptroller has no
jurisdiction to settle an account until it has been stated by the proper
auditing officer (15 Op. Att.-Gen., 139).
It is provided by section 271 of the Eevised Statutes that—
^ ''The First Gomptroller, in every case where, in his opinion, further
delays would be injurious to the United States, ^hall direct the First
and Fifth Auditors of the Treasury forthwith to audit and settle any
particular account which such officers may be authorized to audit and
settle, and to report such settlement for revision and final decision by
the First Comptroller.''
This section, it is believed, should extend to all accounts over which
the First Oomptroller has jurisdiction. And, if any doubt exists as to
its proper construction, which seems probable, it is respectfully suggested
that said section should be so amended as to authorize the Comptroller
to direct the proper auditing officer to state auy account in favor of or
against the United States which it may be lawful for him to state.
AUTHORITY TO R E Q U I R E AND OBTAIN EVIDENCE.
In some instances it has been fbund that disbursiug officers and others
have, on request, neglected or refused to furnish the accounting officers
with evidence in the possession of the former, essential to a proper adjustment of their accounts. The Eevised Statutes contain certain provisions for obtaining evidence in relation to claims ^-against the United
States" (Eev. Stat., 183-187). These provisions do not seem adequate
to secure evidence, either in the classes of cases mentioned or as to
claims in favor of the United States. Attention is called to this subject
as one worthy of consideration, with a view of securing suitable legislation in relation thereto.
REPORTS UNDER SECTION 2 7 2 OF THE REVISED STATUTES.
Section 272 of the Eevised Statutes provides that—
" T h e First Comptroller shall make an annual report to Congress of
such officers as shall have failed to make settlement of their accounts for
FIRST COMPTROLLER.
269
the preceding flscal year, withiii the year, or within such further time
as may have been prescribed by the Secretary of the Treasury for such
settlement."
In my annual report for the flscal year which ended June 30, 1881, I
called attention to the fact that no report had ever been made under
this section, and to the impracticable nature of the requirement thereof.
If the reports required by it could be made, they would more frequently
than otherwise present honest and efficient officers as apparently defaulters when not really so, and thus would do great injustice.
A resolution of the Senate, dated February 9,1876, called on the Secretary of the Treasury for a detailed statement of balances due from
public officers no longer in the public service, which had arisen since
1830. The Secretary made' the statement, but the Senate did not order
it to be printed (Congressional Eecord, Forty-fourth Congress, flrst session, pp. 4136-4161).
Section 272 of. the Eevised Statutes should, however, be complied
with, if practicable. I t is taken from section J 3 of the act of March 3,
1817 (3 Stat., 368), providing "for the prompt settlement of public accounts," which enacted that—
" I t shall be the duty of the First Comptroller to lay before Congress
annually, during the first week of their session, a Ust of such officers as
shall have failed in that year to make the settleraent [of their accounts]
required by law."
This does not seem to require any statement concerning those officers
whose accounts have been settled, and against whom balances have
been found.
Prior to the passage of this act there was but one Comptroller, and
the accounts of all public officers passed through his office, so that
he had tha superintendence of the records showiug all such officers
whose accounts remained uusettled (act September 2, 1789, 1 Stat., 66;
act February 20, 1792, 1 Stat., 234; act March 13, 1825, 4 Stat., 102).
There was then no Commissionerof Customs, who is also a Comptroller
(act March 3, 1849, 9 Stat., 396, sec. 12). The office of Auditor of the
Treasury for the Post-Office Department was created bythe actof July
2,1836 (5 Stat., 81, sec. 8).
Among the difficulties of making the statement required by section
272 of the Eevised Statutes are these: It is impossible for publi'c officers
" t o make settlement of their accounts forthe preceding fiscal year,
within the year,^^ Then, again, the First Comptroller does not now have
the superintendence, by way of ^* adjustment and preservation^" of all
the public accounts subject to the revision of the Second Comptroller^
the Commissioner of CustomSj or the Auditor of the Treasury for the
Post-Office Department (Eev. Stat., 269, par. secoud), If Congress
shall be of the opinion that the First Comptroller must make the report required by section.272 of the Eeyised Statutes, it will be weil to
consider whether provisioii"should not ;be made requiring the requisite
information to be furnisheci lo said offieer. This seem^ advisable, at least,
to remove all doubt as to, the obligation to furnish such report. The
Second Comptroller, tlie Oomraissioher of Customs, and the Auditor of
the Treasury for the Post-Office Department, have recently been requested to furuish, if practicable, the information necessary to enable
the First Comptroller to comply with the now impracticable requirement of section 272 of the Eevised Statutes. And I.have directed the
chiefs of divisions in this office to prepare, so far as practicable, information on the same subject, so that the whole matter maj^ be laid before Congress, if required, by either House, or by any committee thereof,
or by the Secretary of the Treasury.
270
REPORT ON THE FINANCES.
ADDITIONAL
PENAL PROVISIONS.
The accounting and other officers in the treasury Department are
respectively required to affix their signatures to a vast multitude of
papers in the examination and allowance of claims, or for the i)urpose
of inaking payments thereof. It is not possible for the officers so signing to personally, examine all the papers relatingto each claim. It
is respectfully suggested that there should be proper penal legislation
against persons guilty of fraudulently preparing, or being concerned in
Xireparing, any unauthorized or illegal i^apers relating ito claims, or of
fraudulently attempting to procure an official signature thereto. An
instance of this sort recently occurred in this office, in the division of
public land accounts, in connection with a claim in favor of the State of
Florida.
EXTRA COMPENSATION AND PAY FOR EXTRA SERVICES.
Sections 1763, 1764, and 1765 of the Eevised Statutes, and section 3
of the act of June 20, 1874 (18 Stat., 109) contain provisions which
would seem designed to prohibit extra compensation, as also pay for
extra services, to officers and employes iu the public service who receive
fixed salaries or compensation. So many different and conflicting constructions have been given to these provisions, that it is believed to be
important that Oongress should re-enact them in such deflnite form as
will leave no ground for doubt as to what the law is.
DISTRICT OF OOLUMBIA TEN P E R CENT. GUARANTEE FUND.
The amount realized from the sale of the bonds, in which the ten per
centum retained from contractors in the District of Columbia was invested as required by the Act of June 11, 1878 (20 Stat., 106), has exceeded the sum necessary to pay the amounts originally withheld, owing
to the advance in the securities in which the investments were made.
The surplus has been covered into the Treasury as Miscellaneous Eeceipts on account of Proceeds of Sales of Guarantee Fund, District of
Columbia (Eev.' Stat., 3618). One-half the amount originally retained
was paid by the United States, and one-half by the District of Columbia.
It is, therefore, recommended that Congress be advised to appropriate the surplus for expenses of the District (Guarantee-Fund Case, 5
Lawrence, Compt. Dec, 209, 231).
I respectfally renew the recommendations made in former reports, and
again invite attention to what is said in my last annual report in relation to the Comptroller's decisions for 1880 and 1881.
I have the honor to be, very respectfully,
WILLIAM LAWEENCE,
First Gomptroller.
The Hon.
H U G H MCCULLOCH,
Secretary of the Treasury.
REPORT OF THE SECOND COMPTROLLER.
271
REPORT
OF
THE SECOND COMPTROLLER OF THE TREASURY.
TREASURY DEPARTMENT,
SECOND COMPTROLLER'S O F F I C E ,
'
Washington.) B . 0., October 31, J 884.
S I R : In compliance with the direction contained in your letter ofthe
13th ultimo, I have the honor to submit the following report of the
transactions of this office during the flscal year which ended on the 30th
of June, 1884:
'
I
This report is condensed into two tabular statements. The flrst shows
the total number of accounts, claims, and cases of every kind, settled
and adjusted, and the amouuts allowed thereon. The second statement
furnishes a more detailed summary of the same accounts, claims, and
cases, showing the character of the same, the source from which re-'
ceived, the number ofeach kind, and the several amounts allowed.
A still niore detailed statement has beeu piepared and flled for preservation in this office, but it is deemed too voluminous for publication.
TOTAL N U M B E B of ACCOUNTS and CLAIMS SETTLED^
From—
Seenud Auditor
Third Auditor
Fouith Auditor
...
Number.
...'.
Total
Various sources, n o t involving present expenditure
Grand total
'
Amount
allowed.
14, 866
7,872
1,995
$15, 484, 547
72,121, 870
14, 995, 569
24, 733
3,047
102, 601, 986
48, 426
27, 780
102, 650, 412
ACCOUNTS B E V I S E D and S E T T L E D during theyear.
Character of tlie accounts.
iJ^umber.
Amounts
allowed.
FROM T H E SECOND AUDITOR.
1. Of Army paymasters, for pay of the Army
,
2. Of dii^liursins; otticeis of the Ordnance Department, for ordnance, ordnance
stores, supplies, armories, and arsenals . . .
3. Of t <cruitiiiir officers, for rej^ular recruiting service
4. Of disbursiug officers o f t h e Medical Department, for medical and hospital
supplies and servict^s
5. Of miMCt'llaneous disbursements for contingent expenses of the Army, Adjutant-Grbueral's and Commanding General's Offices, Artillery School, ifec...
246
$5,183, 0,75
313
278
2,426,452
223, 931
9,883
255,125
273
5022 F
18
^274
REPORT ON THE
FINANCES.
ACCOUNTS BEVISED and SETTLED during the year—Ooniinwed.
C h a r a c t e r of t h e a c c o u n t s .
Number.
Araonnt
allowed.
F R O M T H E SECOND A U D I T O I F — C o n t i n u e d .
»6. Special A r r a y a c c o u n t s
7. Of I n d i a n a g e n t s ' c u r r e n t a n d c o n t i n g e n t e x p e n s e s , a n n u i t i e s , a n d i n s t a l l ments
.'
Total.
374
$64.440
219
2, 013, 088
1, 612 I 10,175, 994
FROM T H E THIRD AUDITOR.
i . Of flisbursing officers of t h e Q u a r t e r m a s t e r ' s D e p a r t m e n t , for r e g u l a r a n d
incidental expenses
...
."2. Of d i s b u r s i n g «»ffi,cers of t h e S u b s i s t e n c e ! > e p a r t m e n t
:3. Of d i s h u r s i n g officiers of t h e K n g i n e e r ' s D e p a r t m e n t , for militar3" s u r v e y s ,
fortifications, r i v e r and h a r b o r i m p r o v e m e n t s , &c
4 . Of d i s b u r s i n g officers of t h e Signal S e r v i c e ..
'
5. Of p e u s i o n a g e n t s , for p a y m e n t of A r m y p e n s i o n s
Total.
1,484
479
14,911,187
2, 627. 529
91
83
161
16, 581, 789
2u4,t)50
34. 733, 279
2, 298
69,061,434
331
11
13, 044. 828
706, 040
51
136
958.807
49. 725
FROM T H E F O U R T H A U D I T O R .
1. Of p a y m a s t e r s of t h e N a v y , p a y m a s t e r s a t n a v y - y a i d s , N a v y a g e n t s , a n d
(•ther d i s b u r s i u ' . ' o f f i c e r s . . '
'
'
2 . Of d i s b u i s i n g officers a n d a g e n t s of the. M a r i n e C o r p s
3. Of N a v y p e n s i o n a g e n t s, for p a y m e n t of p e n s i o n e i s of t h e N a v y a n d M a r i n e
Uoips
.4 . Of m i s c e l l a n e o u s n a v a l a c b o u n t s
Total.
14, 759, 400
CLAIMS SETTLED daring the year.
Nuraber
settled.
C h a r a c t e r of t h e c l a i m s .
Amount*
allowed.
FROM T H E SECOND A U D I T O R .
1.
^.
3.
4.
Soldiers' pay and bounty
Miscellaneous,^of A r m y p a y d e p a r t m e n t
I n favor of t h e S o l d i e r s ' H o m e
Miscellaneous, Indiau claims
10,321
426
112
2,395
$647,716
49, 23134 ..026
4, 266, 580
920
761
6
8.50
1, 242
11
201.627
1.58. 161
210. 643
2, 118,825
262,918
1,775
1,394
390
100,487
FROM T H E T H I R D AUDITOR.
1. F o r q u a r t e r m a s t e r s ' s t o r e s a n d c o m m i s s a r y s u p p l i e s , u n d e r t h e a c t o l J u l y
4, 1?<64
2. F o r h>8t p r o p e r t y , u n d e r ttie a c t of M a r c h 3, 1849
:
3 . S t a t e w a r c l a i m s , a c t of 1861, (fee
4. F o r A r m y t r j i n s p o r t a t i o n
5. G e n e r a l miscellHueous chiims
6. Oieg(m a n d W a s h i n g t o n T e r r i t o r y w a r clairas
7. F o r r e i m b u r s e m e n t e x p e n s e s of l a s t s i c k n e s s , &.C., a c c o u n t d e c e a s e d p e n sioners
.
S. C l a i m s e x a m i n e d a n d d i s a l l o w e d
FROM T H E F O U R T H A U D I T O R .
1. F o r officers' a n d s a i l o r s ' b a c k p a y a n d b o u n t y a n d p r i z e m o n e y .
Total
,
1,406
236,169
20, 294
8, 605,158
CASES ADJUSTED, NOT INVOLVING P B E S E S T E X P E N D I T U B E .
C h a r a c t e r of t h e c l a i m s .
Number.
1. D u p l i c a t e c h e c k s a p p r o v e d
:2. Referred c a s e s adj u s t e d a n d d e c i d e d
.3. F l u a i u i a l a g e n t s ' a c c o u n t s — n a v a l
•Total...
(J
Amounts
involved.
556
2, 489
2
$37, 670
3,047
4tt, 426
10, 7.56
SECOND COMPTROLLER.
\
.
•
Bonds filed during the year
Contracts filed during the year
Official le^,ters writteu and copied
'
Requisitions countersigned and recorded
Settlements recorded
Differences recorded
Olerks employed (average)
275
•
•
;
,
90
1,834
, 1,670
13,275
10,454
4,397
^.
77^
A large amount of additional official work has been performed, which
€annot be presented in tabular form, such, for example, as the investigation and decision bf legal questions arising iu the adjustment of accounts, and in many cases referred for decision from tbe several Departments that report to this office; decisions as to rights of heirs,
executors, administrators, and other legal representatives of deceased
claimants; questions arising on powers of attorney, and in contests of
attorneys for claimants; answering calls for information frora Congress,
the Departments, and private persons. Many of these matters require
and have received careful attention from the several chiefs of divisions,
as well as from the Comptroller and his deputy.
All the public business intrusted to my charge during the year has
been, I believe, promptly and properly actended to by the officers and
<;lerks of the office, and has progressed with reasonable dispatch.
Yery respectfully,
Wo W. UPTON,
Comptroller.
Hon. H U G H MCCULLOCH,
Secretary of the Treasury.
'
REPORT OF THE COMMISSIONER OF CUSTOMS.
277
REPORT .
OF
T H E C O M M I S S I O N E R OF C U S T O M S .
TREASURY D E P A R T M E N T ,
O F F I C E OF COMMISSIONER OF CUSTOMS,
Washington City, B. C, October 29, 1884.
. S I R : I have the honor to submit herewith for your information a
statement of the work performed in this office during the fiscal year
ending June 30, 1884:
Number of accounts on hand July 1,1883
Number of accounts received from the First Auditor during the year
Number of accounts adjusted duriug the year
Number of accounts returned to the First Auditor
.
93
5,932 "
6-, 025
5,857
13
5,870
Number of accounts on hand June 30, 1884
155
There was paid into the Treasury from sources the accounts relating
to which are settled in this office:
Ou
On
OQ
On
On
On
On
On
On
On
On
On
On
account
account
account
account
account
account
account
account
accouut
account
account
account
accouut
of customs. .
of mariue hospital t a x
of steamboat fees
^
of tines, penalties, aud forfeitures
of storage, fees, &c
,
of emolument fees
:
of immigrant fund
of interest on debts due
of rent of public buildiugs
of mileage of examiners
of relief of sick, and disabled searaen
pf deceased passengers
of proceeds of Government property
« Aggregate.,
$195,067, 489
415,5'<i3
183,755
78,496
766,9'^4
227,693
224,286
100
8,889
1,490
5,824
.
1,050
20,117
76
75
10
90
94
02
50
62
40
60,
84
00
32
.." 197,001,702 75
And there was paid out of the Treasury ou the followiug accounts:
Expenses of collecting the reveuue from customs
Excess of deposits.Debentures
Construction, &c., of public buildintrs
Construction and maintenance of lights
Construction and maintenance of revenue-cutters
Life-saving s t a t i o n s . . . .
Marine hospital service
' Expenses of regulating imn^igratiou
;
,
.,
Detection and prevention of frauds upon the customsrevenue
Inspection of neat cattle shipped to foreign ports
Compensation in lieu of moieties
Protection of sea-otter hunting grounds and seal fisheries in Alaska.
$6,709,485
5,063,449
3,651,013
2,405,336
2,3:^0, 549
930,216
811,968
465,387
235.443
66,482
47,574
30,209
25,000
279
76
17
74
29
57
97
19
45
86
65
70
54
00
280.
REPORT ON THE
FINANCES.
Salaries and expenses of agents at seal-fisheries in Alaska
Unclaimed merchandise
\
Refunding moneys erroneously received and covered into the Treasury,
Total
:......
Deduct repayment:
Distribution of standard weights aud measures for use of colleges...
Aggregate..
,
$13,811 64
319 89
37 31
22,786,286 73
. 6 5
22,786,286 08
Number of estimafes received and examined
Number of requisitions issued
^
Amouut involved in requisitions.
Num ber of letters received
Number of letters written
:
Number of letters recorded
Number of stubs of receipts for duties and fees r e t u r n e d b y collectors.
Number of stubs examined and summarized
Number of stubs, tonnage, received aud entered
Number of oaths exam ined and registered
Number of apj)ointments registered
i
Average number of clerks employed
2,143
2,143
20,583, 957 69
17, 6i)5
'8,895
7,394
247,605
240, 619
8,164
2,132
4, 500
30
I inclose herewith a statement of the transactions in bonded goods as
shown by the adjusted accounts, also of propert}^ brought intp the
IJnited States for temporary purposes, under section 2507, E. S.
I am, very respectfully, your obedient servant,
HENEY C. JOHNSOlSr,
Commissioner of Gustoms.
The SECRETARY OF T H E TREASURY.
STATEMENT of TBANSACTIONS under SECTION 2^07, BEVISED STATUTES,
and DECISION 4314, Novemher 20, 1879, of ENTBY of HOBSES, WAGONS,
HABNESS, MACHINERY, cfc., BBODGHT INTO ihe UNITED STATES for
TEMPOBABY PUBPOSES, for the year ending June 30, 1884.
^
Districts.
Batb
.Cape Vincent .
Cbamplain
Minnesota
Superior
Verniont
Total.
B a l a n c e of
A m o u n t of
b o n d s from b o n d s t a k e n .
last account.
$2,230
50
467
12, 864
40
00
82
10
776 50
16, 388 82
$5, 444
770
4, 857
9, 223
837
10, 021
A m o u n t of
A m o u n t of
B a l a n c e of
b o n d s cand u t i e s colbond 8 n o t d u e .
celed.
lected.
60
85
95
28
25
19
31,155 12
$5,679
695
3,294
20, 748
653
i9,;840
15
85
77
93
00
14
40,911 84
$1, 995
125
2,031
1, 338
184
957
85
00
00
45
25
55
"l,0i4'35
6, 632 10
1,988 28
$96 05
179 00
668 88
RECAPITULATION.
B a l a n c e of b o n d s from l a s t a c c o u n t . . . $16, 388 82
' A m o a n t of b o n d s t a k e u
31,155 12
A m o u n t of b o n d s canceled .
B a l a n c e of b o n d s n o t d u e . . .
47, 543 94
$40,911 84
6, 632 10
47, 543 94
HENEY C. JOHNSON,
Commissioner of Gustoms.
TREASURY DEPARTMENT,
O F F I C E OOMMISSIONER OF CUSTOMS,
October 29, 1884o
S I A T E M E N T of T f A B E H O m E T B A N S A C T I O N S at the SEVEBAL DISTBICTS a n d ' P O B T S in the UNITED .STATES f o r the year ending
June 30, 1884.
.
B a l a n c e of
b o n d s to s e c u r e
d u t i e s on goods
r e m a i u i n g in
warehouse
J u l y l , 1883.
. D i s t r i c t s or p o r t s .
Albany
Alexandria
Apalachicola
Atlanta
Baltimore
Ban-^n)r
Barnstable
Bath
Beaufortr N. C
Boston and Charlestown.
Brazos de Santiago
Buftalo C r e e k
Belfast
w
Cape Vincent
Champlain
Charleston.
...
Chicao"©
Cincinnati
Corpus Christi
Cuyahoga
Delaware
Denver
.
Rewarehoused and
bonded.
Constructively warehoused.
$102, 334 81
22 22
I n c r e a s e of
duties ascertained on liquidatiou.
_
$0 67
Withdrawal
duty paid.
Withdrawal
for t r a n s portation.
Withdrawal
for e x p o r tation.
B a l a n c e on
A l l o w a n c e s b o n d s to sec u r e
d u t i e s on goods
a n d deficienremaining in
cies.
w a r e h o u s e •J u n e 30,1884.
•.
-
$102, 334 81
22 89
$327 78
$170,152
423
156
83, 092
16,115
4, 766, 365
684
2, 950
4,610
383
5, 438
610
213,154
37,506
381, 559 39
39
;.<6
00
22 "'-""42,'853 54"
55
61 14, 201, 838 93
60
735 00
5, 966 58
05
70
06
37
51
43
27
7, 717 78
2, 000 35
...
48, 345 57
Duluth
Erie
Evansville
Fall-Kivor
Frenchman's Bay
Eernandina
Galveston
Genesee
Gloucester
Georgetown, D . C
H u i o n .:
Indianapolis
Kaiisas City
Kennehunk
Key West
Louisville
Wareboused
and bonded.
8, 959 71
85, 732 16
853 76
353 25
'i,*i58,232'2.V
44,878 64
3,235 29
5, 594 05
4,700 19
563 90
82, 493 52
2, 007 60
91 46
13, 709
7,165
4, 760
292
71
89
69
88
781 85
34 702 12
si 292 20 I
56,122
50, 460
46, 624
2, 010
01
29
27
66
698 60
9,C»« ^ ± 9
QU
i3i 864 92
$327 78
$11, 579 46
7, 044 03
49, 665 98
83, 396
7,661
7, 369
7, 421
53
10
39
95
127
37, 852
137,201
810
3, 675
50
06
57
77
66
1, 022, 085
63, 088
279,155
1, 351
6,169
06
67
19
61)
35
185,221
4, 258
147,149
16, 515
89, 769
4, H63
22,421
2, 346
574, 051
10,197
220
427
3,115
929
97
58
72
09
37
48
84
72
74
91
00
52
00
32
1, 319 92
317
103, 382
8, 048
2, 705
374
5,423
50
21
02
09
42
60
55, 220 25
203 00
908
1,683
'6,283
5, 954
9, 954
1, 064
68
15
27
30
17
75
2,178 05
5,161 80
2, 211 62
139, 912 84
6, 484 04
6, 709
1,379,451
5, 393
6, 522
138
479
4, 290
76
09
08
88
48
32
72
13,710 64
527
1, 439
441, 322
98
50
46
49
77
75
20
68
2
35
53
23,633
465
28
92
48
08
65
127
426, 770
423
136
74, 937
11,223
13,183, 547
249
17, 845
7
50
63
36
93
28
93
99
45
32
47
92
5, 522
4, 717
1,279,147
82, 490
647
9,833
^ 26, 371
2, 911
84, 328
177
9, 753
53,633
3,115
91
313
40; 255
53,785
587
4, 892
39
49
83
01
59
25
73
91
47
77
90
78
45
00
76
95
88
14
09
87
$24, 563 63
2, 535 57
119 60
153, 928 90
269 60
45, 006 03
6,079 35
17 50
85
733 60
4,836 89
7 61
814
251
367
62
11
68
73
51
23 00
2, 984 11
132 09
$3, 273 49
134,666 00
7, 093 71
157, 050 28
18,870
1, 582
10,615
2,157
00
30
44
70
1.247,205
71, 599
227, 349
1, 539
90
2,061
28, 476
342
.
14, 825
03
77
33
39
00
46
74
00
24
""52,"855
6,331
1, 511,133
42
198
11,838
06
11
83
90
55
16
7, 486 92
6, 030 30
354 53
128 00
594, 593 50
9, 665 48
• 1, 078 60
2, 740 26
350 81
140, 035 61
21,440 21
1, 358, 010 88
46, 769 08
6, 002 07
5, 530 44
117 90
4, 364 77
1,779,00
138 48
1, 006 92
oo
780 16
51 902 92
l-H
4,419,193 15
106 40
5, 092 18
o
180
285, 940
17,338
132
1 045
564
24
34
71
30
36
25
3,196 90
72,695 21
1, 305 53
31,297 62
203 00
6, 065 50
1, 801 53
42, 721 84
121 314 33
405 17
84, 314 76
6, 905 03
6, 545 88
293,180 02
16, 078 51
$38,931,86
4,121
494
515
4,700
77
48
79
35
43
1,369
25,350
'13,296
17,531
547,
W'
Ul
HH
to
o
^_
o
a
02
O
Ul
78
20
08
32
33
34
44 45
2 102 10
8, 237 04
439 02
39, 875 50
7, 495 02
00
STATEMENT of WABEHOUSE TBANSACTIONS at tlie SEVEBAL DISTBICTS and POBTS in the UNITED STATES, #c.—Continued.
D i s t r i c t s or p o r t s .
Machias
Memphis
Miami
M i c h i g a n , from J u l y 1,
1882, to J u n e 3 0 , 1 8 8 4 . . .
Middletowu
Milwaukee
Minnesota
Mobile
M o n t a n a and Idaho
N a s h ville
Newburyport
New Haven
N e w Bedford
N e w Orleans
N e w n o r t , R. I
Norfolk aud P o r t s m o u t h .
Niagara
N ewark
N e w London
Omaha
Oregon
Oswegatchie
.Oswego
Passamaquoddy
P a s o del N o r t e
Pearl River
Paducah
Pensacola
Perth Amboy
Philadelphia
Pittsburgh
Plymouth
Portland and Falmouth..
Portsmouth
..
Providence
Richmond
Salem a n d B e v e r l y
Saluria
^aint Joseph
,
,
B a l a n c e of
bonds to secure
d u t i e s on g o o d s W a r e b o u s e d
and bonded.
remaining in
warehouse
J u l y 1,1883.
$2, 013 12
6, 022
4, 886
4,771
21
21
75
02
00
19, 659 24
519 00
530, 576 70
$259 60
38,686
3,315
1, 114
27, 954
61
49
75
37
152,694 50
173 50
472,179 22
19, 453, 869 87
50,151, 743 88
4,128 09
74 70
20, 768 13
1, 232
34, 752
3, 037
231
16
60
19
89
5, 901 50
337, 062 66
6, 286 56
250 00
1, 049, 395
1, 335
20, 278
93, 042
58, 020
22, 303
59
72
92
23
09
09
Rewarehoused and
bouded.
6, 338. 381
28, 631
5, 095
548, 345
244
39, 964
40
54
89
75
20
39
18,156 96
,...,^
^.
$7, 879 55
952 67
1, 981 04
320
88, 365
214
11, 075
50
65
16
68
Constructively warehoused.
I n o r e a s e of
d u t i e s ascert a i n e d on
liquidation.
$11 20
464 88
432 59
$73 20
$1,381 10
432 59
1 30
102 08
259 13
761
43,602
15, 292
8. 808
27, 975
912
4, 688
15. 395
178,571
10
1, 076
1,862
1, 260
8, 426
16,793
1, 773, 762
516
3,459 12
259,104 09 11,039,079
891, 299
1,998
225 30
951
735 02
5, 829
229
744, 544
839 35
26, 325
819 90
277 44
5, 123
2, 974 42
58,453
2, 237
429
270
1, 592 40
36, 644 44
54, 465
1,033 30
77, 690
24,156 71
1,820
60,481 11 2,025,641
66 09
13, 7U5 53
820
. 121
858 79
132
2, 084
898
,
20
54
74
19
00
00
.55
.59
93
54
18
55
Withdrawal
duty paid.
Withdrawal
for exportation.
to.
$11 20
00
15
63
89
37
$1, 429 70
151 20
•
$3,580 35
5, 248 08
170,112 48
10 00
1, 076 00
$1, 074 91
5, 850 42
99 84
9, 020 83
3, 5u9 68
2, 367 b4
1, 862 55
60
54
25
92
233, 676 64
17, 257 58
591, 589 99
528 47
70
99
73
50
83
37
56
49
25
60
90
75
88
2, 973, 004 39
47, 518, 892 55
71
58
46
61
454, 435 65
124 00
91
45
00
35
54
Withdrawal
for t r a n s portation.
00
B a l a n c e on
b o u d s 10 s e c u r e
A l l o w a n c e s d u t i e s on g o o d s
a n d deficien- r e m a i n i n g i n
cies.
warehouse
J u n o 30,1884.
27
8
24, 478
11
1 22
187*68'
24(' 60
156 41
12 17
10 99
202 02
5 90
1, 998
14, 118
•6,201
' 229
1,697
197,159
2, 045
154
250
171
73
82
82
37
16
86
12
16
00
50
3,792 64
443,802 l i
36
216
214
1,378,423
80
96 ' " " r . i , 863 56'
173 00
16
190, 332 06
14
3,4.59 12
972, 354 66 12, 081, 924 33
145, 362 95
745, 937 04
3,319 95
62. 579
187, 739
5,141
761
2, 237
98
39
25
76
90
44 50
685, c 16
384
6,483
58,870
64
00
19
84
270 88
61
44 ' " " ' 1 2 , 9 2 9 9 4 ' " " * i 6 , 6 0 8 07"
79
96
181 34
08
12,500 77 2,068,064-00
13
88 49
78
"1,754 00'
45
415 29
00
2, 084 35
304 44
1,337
6, 553. 294
107,211
22, 589
537, 376
. 49,505
58, 854
121
12, 837
1, 544
29,624
64
207, 924
29
18
00
73
O
H
O
w
5, 618, 233 07
17, 685, 397 32
988 50
7, 601 25
438 95
i65
5, 611
297
77
.50
40
93
03
2, 745 97
8, 3U6 60
913 36
' 1,795 02
258 25
254 79
436, 546 89
16, 981
14, 347
8, 503
^ 2,777
40
01
55
02
1, 995 41
913,
1,
11,
95,
943
603
549
235
244
13, 610
45
35
28
01
20
14
3, 900 06
h-H
>
•
a
a.
Ul
San Diego
San F r a n c i s c o
S a i n t IfOuis
Vermont
Waldoborouffb
Willamette
"Wiscasset
Wilmington, N. C
W i l m i n g t o n , Cal
Yao uina
York
10, 513
' 1,433, 226
9, 472
135, 442
3, 036
•
3, 318
71
99
80
48
99
58
79
2,724,863
9, 442
- 129,180
13, 156
60
80
77
67
36
14
48
126, 518 18
1, 592 51
123 74
27, 059 96
2, 098 05
5,762 43
65, 767 24
222 00
329,878 13
789, 090
568
145, 834
578, 544
748
1,344
44, 775
3, 536 53
5, 592 01
2, 224 25
600 00
39,460 85
18 64
11 80
28,479,455 62
77, 588,338 92
75
70
33
71
47
87
58
1, 311, 526 46 22, 809, 766 76
76, 234
67
317
702
92
96
44
63
6,
2,475,
13,
564.
4,
85 21
435
272
083
472
831
129
•»,344
142, 918
81
00
75
33
47
33
87
57
7 55
5,140 51
. 2, 395 83
26, 354 23
4, 024, 727 34 75, 078, 581 86
""i37,'462"i6'
"88,673
99
168 15
221, 516 44
i 1,497 95
362,331 59
966 69
81 26
3, 962 80
4, 077 90
301, 792 80
151 40
22,936 11
1,060 86
4, 479 88
2, 831 57
• 79
1, 286, 042
6, 538
141,578
5,700
2, 088
80
78
98
20
11
16
58, 280 80
1, 870 75
753 21
600
00
30 44
2,683,318 56 22, 466, 945 56
15, 502 45
8,388, 864 02
25,596,105 l o
O
O
RECAPITULATION.
Balance due July 1,1883
Warehoused and bonded
Re-warehoused and bonded
Constructively warehoused
Increase of duties ascertained on liquidation
Total
$28,479,455 62
77, 588, 338 92
1,311,526 46
22, 809, 766 76
4, 024, 727 34
:
134,213,815 10
Withdrawal duty paid
Withdi awal for transportation .-.
Withdrawal for exportation
Allowances and deficiencies
Balance due June 30,1884
Total...
^
;
::
$75,078,581
2, 683, 318
22,466,945
8, 388, 864
25,590,105
86
56
56
02
10
131,213,815 10
O
M
W
O
TREASUBY DEPARTMENT, OFFICE COMMISSIONER OF CUSTOMS,
October 29, 1884.
Ul
Ul
H. C. JOHNSON,
Oommissioner qf Gustoms.
o
d
CQ
H
O
OQ
IS3
00
03
EEPOKT OF THE FIRST AUDITOR
285
(
REPORT:
OP
THE PIRST AUDITOR OF THE TREASURY.
TBEASURY D E P A R T M E N T ,
F I R S T AUDITOR'S O F F I C E ,
Washington.^ October 20, 1884;
S I R : I have the honor to submit herewith the annual report of this
buieau for the iiscal year ending June 30,1884, with such recominendations as are deemed for the interest of the public service.
, Attentiou is called to the following exhibits of the busiuess transacted
in this office during the year:
Accounts adjusted.
Amount.
RECEIPTS.
Duties on merchandise and tonnage
Stearaboit fees
'.
Fines, penaltii-s, and forfeitures
Marine, hospital money roUefted
Official emoluments of collet^tors, naval officei's, and surveyors
Moueys received ou account of deceased passengers ..
Moueys received from sales Of old material
MisceUaneous receiots
•
,
Moneys retained from Pacific Radroad Companies for accrued interest on bonds
Treasurer of the Uu ited States for moueys received
Mints and as.«'ay offices
;
"
Wiiter rents, Hot Springs, Arkansas
.
Immigration fund
Keceipts foi- advertising change of name of vessels
Accouuisof the treasurer of ihe Di.stri<-.t of Columhia for moneys received
aud deposited with the Treasurer of the Uniied Slates
Total.
1, 535
1,351
927
1,666
1,490
51
196
875
12
2
92
6
372
9
$199, 286. 320 35
172, 6.59 01
104. 195 36
452,416 62
, 825, 674 95
1. 135 00
.47, 9:{6 29
1, 0('3, 357 07
1. 50H, 108 63
655,576 72: 94
95,135, 764 67
2, 058 20
242, 965 50
157 60
24
2, 018,4£I3 75
8,608
956, 377, 944 94
1,905
5,962,437 33
54,997 67
3, 3!»9. 573 87
3, 9:{4, 968 H8
873.431 76
1,105, 680 41
42t,!'.55 79
6^9,260 19
32, 273 70
157 60
C8, (195 82
38, 066 63
. 40(1, 934 43
DISBURSEMENTS.
Expenses of coUecting the^ revenue from customs
Detection and prevention of frauds ou customs revenue
Debontuns, drawbacks, (fee
Ex«ess of de|!OsitH refund' d
Kevenue < utter Seivice
JDutit s refunded, fines remitted, judgments satisfied, &c
Miiriue Hospitiil Serviee
Officiiil einolmnents of coUectors, naval officers, and survej'prs .
Awards of (Ompensation
ExpeoHrs in adveiti^inir cliange of name of vessels
Inspection of nent cattle sliipped to fore.iiin ports
Lighthouse estaldishmeut, misceUan( ous expenses
Supplies ol light-houses
R«pairsof lig!:t-housea .;
.,
'Ex])enses of ligiit-vessels
ExpeuKes of linoyaiie
Expenses of fog-signals
,
15
296
546
573
1,447
113
1,478
3^9
9
79
99
96
73
39
95
44
2H\ Hu 49
24.=), 90S K5
321,302 88
39, 860 59
287
288:
R E P O R T ON T H E
Accounts adjusted.
FINANCiES.
Amount.
DISBURSEMENTS-Continued.
- E x p e n s e s of lighting and buoyage of the Mississippi, Missouri, and Ohio
22
Rivers
,
•-...-.
--.. •
•--.
$97, 632 7 6
Expenses of inspection of l i g h t s . . . . .
,
2,615 18
9
66
636, 599 fiO
Salaries.of light-house keepers
•
72
50, 000 00
Salaries, &c., Senate and House reporters
,. r
3
,
384.117 99
Salaries and mileage of Seiiatpr.s
.
^4
, 250, 22H 21
Salaiies, officers and employ6s Senate .:
3
1, 586, 847 69
Salaries and mileage. Members and "Delegates, House of Representatives . : . .
316,711 80
11
Salaries, officers and employes House of Representatives
-'- - - - - •
' 34,864 00
5
Salaries of employes Executive Mansion
\
344
8, 833, 527 54
Salaries paid by disbursing clerks of the Departments
354, 203 78
39
Salaries, officers and employe.s Independent Treasury
. 7
9, 347 53
Salaries and expenses reporter of Supreme Court
1
34, 923 32
4
Salaries, office of Director of Geological .^ urvey
'.
140
37,
507 39
Salaries and expenses, special inspectors foreign steam-vessels
1,10000
•7
- Salaries, governors, &c.. Territories of the United States
2,054
606, 002 00
Salaries of the civil list paid directly from the Treasury
4
14, 974 66
Salaries, office ofthe Public Printer
•.
. 12
25, 833 35
Salaries, Bureau of Engraving and Printing
4
36, .522 10
Salaries, Congressional Library
8, 388 00
Salaries, standard weights and measures
.
7 ,
'
99, 145 64
Salaries,' Steamboat Irispection Service
2
2,234 79
Salaries, special agents Independent Treasury
6
Salaries, custodians and janitors
<
.
^
...
3
146,134 83
• :Salaries, Agriculturalt)epaitmeut
91,411 82
3
Salaries, Botanic Garden
4
9, (198 93'
Salaries and expenses, National Board of Healtb-,
....
20, 872 91
17
Salaries of employes public buildings and grounds ....'
102,758-33
16
Salaries and expenses, seal fisheries -.
.'..,
28
13,884 26
Salaries, office of Civil Service Commission
5.
16, 654 46
\ Salaties and expenses, commission to regulate mail transportation.
10,000 00
'
1
3
' C.ontingent expenses, Executive Mansion
1, 768 65
Contingent expenses. United States Senate
S
123,135 00
29
21
Contingent expenses. House of Representatives
54,671 16
379
367, 778 96
Contingent expenses, Departments, Washington
.............
'
2ul
61,993 00
Contingent expenses. Independent Treasury. . .
1, 053 j '
43,108 83
Contiugent expenses, Steamboat Inspection Service.
:..
• , 12
440 29
Contingent expenses, public buildings and grounds .
7
.1,184 .58'
Contingent expenses, office of Public Printer
933 63
Contingent expenses, Library of Congress '•,---^
'
4
. 20
'
6,131 26
Contingent expenses, executive offices, Territories '.
'
.'.
11,617 41
, Contiiigent expenses, Utah Commission
1
• 1
266
79,464 92
Stationery, Treasury Department
'.
65, 452 79'
Stationery, In terior Department
.....
6
17, 684 .52
Stationery, War Department
,
,.......:
.......
2
588,835, 145 97
2
Treasurer of the United iStates, for general expenditures
40
88,893,623
62
Gold and silver bullion a c c o u n t . . . . . .
.
1, 261, 052 64
70
Ordinary expenses, niints and assay offices
>..
168,883 75
14
Paiting and refining bullion . . . . . . . . . . . .
1...
'...'.—
153, 590 6 1
•21
Coinage of standard silver dollars '.
14
.
8. 754 03
, Freight on bullion and coin
.'.
813, 272 30
Trausportation ofsilver coin
•
:
. ..
12 1
V 51,693.81
Storage of silver doUars
2
• 97 66
Recoiuage of gold, silver, and minor coins
<....
.:
20,359 58'
, Maniifacture of medals
--•-.• •-\
•2
106. 742 17
Legislative expenses. Territories of the United States
39 1
Defending suits ih claims against the United States
;
7 ' • • 2,889 85
672, 985 94
47
, Geodetic and Coast Survey of the United States
'.
'
50
362, ] 50 72
Geological Survey of the Territories'
1,985 04
23
Lands and other xiroperty of the United States
.'..,
..'..
• 22
. 99, 565 64
Protection ahd improvement of Hot Springs, Ark
24.
219 7 5
Reproducing plats of surveys. General Land Office
:
^..
6
13,746 99
> 6 1
Adj listing claims for indemnity for.swarap lauds
41,
264 23
5
Protection and improvement of Yellowstone Park
28, 532 02
Snrvey ina: public l a n d s . . . . . .
' 4
57,
891
32
Protecting public lands.
-:-..
i..
7 i
55. 558 26
Depredatioivs on public timber
.<
4 1
42,180 00
2
Smithsonian Institution, expenses of
:-51,521 17
,9
Smithsonian Institution, Nortb American ethnology
2,577 00
. . 4
Smithsonian Institution, .Polaris report ^
1,785 47,
6
Bureau of Education, distribution documents
'.
.-..1,306 18
.
•
3
Bureau of Education, collecting statistics
"....
.....
:
5, 824 01
• 43
Descriptive catalogue of Governmeut publications
346,-606 44
•28,1
Publication of Tentb Census reports;
.'
.. , . . . . . . ;
Judicial expenses, embraciirg accounts of United States marsbals, district
attorne\ s, assistant district attorneys, special assistants, clerks and com4,162,191. od
5, 863,-.|
. misvsioners, rent of court-houses, support of prisoners, &.c-. ^.,
35,2.59 05
Prosecul^iou of crimes
• 15
90, 362 40,
19
Suppressing counterfeiting and crime
: ...i
'..-.
289
FIRST AUDITOR
Acconnts adjusted.
DISBURSEMEJSTTS-Coutinued.
Punishing violations, of intercourse acts and frauds
Investigation of .fiauds, office of Commissioner of Pensions
.-.. .
Compensation and expenses, otlicers of election, Utah Tei'iitory
Purchase of military papers of Count Rochambeau
Purcbase of Mathew Carpenter's records, &c
;
'
Judginent southein district of New Tork in tke case of the Spaiiisb ferry-boat
Nuestra Senora de Regla
J
Judgment United States 'vs-. Brlndle
Expenses Chinese act
?
\
C hecks and certifi cates of dejposit
$5,102
45, 479
16, 439
20, 000
8, 000
148,
18,
1,
5,
19
71
68
00
00
203
838
422
742
00
82
05
97
75, 504, 599
10, 035, 9S0
815, 668
630, 000
23, 250
5, 814, 526
3,118
11
63
03
00
00
08
00
TNTEKEST ACCOUNT.
istered stock.
.Coupo
District of Columbia, Wasliington, Georgetown, and corporation bonds.
Navy
.n fund
'.
^
Louisville arid Portland Canal Company's bonds
Pacific 'Railroad bonds
.'
Uiiclaimed interest, old loans
".
456
125
34
1
2
18
4
R]SDEMOTION ACCOUNT.
United States bonds, called:
Priucipal .
,
Interest
.!
-.
United Sta tes bonds. prir6liased for sinking fund':
Principal
,
Interest
United States bonds, exchanged into loan of 1882, 3 percent,
. Piincipal
•
:
Refunding certificates:
^
'
Principa]
.Interest
'.
^
Certificates of deposit.
Districtof Columbia stock:
Principal
'.
Interest and premium
Louisville and Portland Canal Company's bonds
Notes, one and two j'ears, compound interest, 7-30s and Treasury, and war
bounty scrip :
Principal'.
:,....'
Interest
/
Legal-tender notes destroyed
".
Eractional curreucy destroyed
•
'•
Old demand notes destroyed
Gold certiiicates
.'
Silver certiticates
Redemption of worn and mutilated United States notes
—
Expenses of national cuirency
Distinctive paper for United States securities
Purchase of bonds for sinking fund, Pacific Railroad
Outstanding drafts and checks
,
Judgments of the Court of Claim,s
Public printing and binding . .. -\
Laboi' and expenses of engraving aud printing
Post-Office Department lequisitioiis
'
Postage, Executive Departments
Telegraphic connection between the Departments
i.
Life-Saving Service
Establishing Life-Saving stations
Propagation ol food-fishes . Illustrations for report on food-fishes
Steam-vessels (food-fishes)
Protection sea-otter and seal fisheries
, Pedestal for statue ol:' Rear-Admiral Du Pont:
'
:
Expenses, inspectors General .Land Office
Books and serials for Government actuary
Expeuses, Civil Service Commission
Digest of contested-election cases
^.
Collecting statistics relating to commerce....'
Examination national banks and bank plates
Estimates and digest of appropriations
,
Construction of custom-bouses and post-offices
Construction of court-houses and post-offices
Construction of building for State, War, and Navy Departments.
Construction of barge offices. New York
Coustruction of light-houses
Construction of building for Bureau of Engraving and Printing .
Construction of extension of Government Printing Office
5022 F
^^19
'•
43, .556, 600 00
240, 073 81
46,180,150 00
316,143 08
2, 400, 700 00
66,900 00
12,172 45
27, 770, 540 00
366, 600 00
54, 540 58
3, 540 00
, 12, 500
1,925
116, 528, 937
36, 724
725
31, 636, 040
29, 385, 469
12, 630
17
15
15
14
16
12
105, 684
81,368
, 1, 668, 925
40, 969
47, 995
2, 406, 891
1, 241, 299
171, 406
179, 618
1, 096
786,136
44, 052
151, 833
892
75, 542
25, 000
5, 842
345
250
89
22
1
107
12
144
17
4
25
13
175
^ 27
19
2
4
1
12
3
• 2
8
1
22
13
3
246
488
14
14
110
3
4
»
00
18
00
00
00
00
00
34
59
49
00
95
83
50 ,.
22
61
35
01
92
43
88
77
92
00
09
55
00
7, 491 35
1, 000 00
6, 270 12
471 05
479 45
996,421 36
1,640,111 23
328,867 67
6, 894 62
125, 574 22
941 88
407 36
290
REPORT ON THE FINANCES.
Accounts ad,i,iisted.
Amount.
DISBURSEMENTS-Continued.
REDEMPTION ACCOUNT—Continued.
Construction of marine hospitals
Construction of penitentiary building, Dakota
:
Construction of building for Agricultural Department
Construction of Pension Office building
Construction of steam-tenders
Construction and repair of revenue" vessels
Construction of Senate stable and engine-house
.^.
Construction of elevator, &c.. Department of Justice
Construction of elevator and steam-machinery. Senate
Const ruction of appraisers' stores
Construction of vaults, San Francisco
Construction of Fisb Commission buildings
Reconstruction of eastern portion of Smithsonian Institution
Reconstruction of Interior Department building
Plans for public builrlings
Completion of AVashington Monument.. .•
Repairs, fuel, &c.. Executive Mansion
Annual repairs of the Capitol
Repairs and preservation of public buildings
Heating apparatus for public buildings
Rent ot buildings in Washington
Fuel, lights, and water for public buildings
Furniture and repairs of same for public buildings
Vaults, safes, and locks for public buildings
Lighting, /&c., Executive Mansion
,
Lighting the Capitol Grounds
Improvement and care of public grounds
Improving Capitol Grounds
Improving Botanic Garden and buildings
.".,
Washington Aqueduct
Increasing the wa.ter supply
,
Repairs of water-pipes and
fire-plugs
,
Constructing, repairing, and maintaining bridges. District of Columbia.
Increase of Library of Congress
,
Works of art for the Capitol
Preventing the spread of epidemic diseases
Departmental libraries.
,
Agricultural Department:
Experimental garden
Library
:
Museum
Laboratory ,
Furniture, cases, &c
CoUecting statistics
Purchase and distribution of valuable seeds
.Imprbving grounds
Printing annual report 1881 and 1883
Experiments in tea culture
Report on forestry
Investigating diseases of swine and otber domestic animals
Investigating history of insects injurious to agriculture
Experiments in the manufacture of sugar
Examination of wo(ds and animal fibers
^Transportation agricultural and mineral specimens to Atlanta, Ga .
Postage
^
Reclamation of arid and waste lands
Yorktown monument
Monument to commemorate battle of Monmouth, N. J
Monument, Washington's headquarters, Newburgh, N . Y
Reform Scbool, District of Columbia
'.
Freedmen's Hospital and Asylum
Government Hospital for tbe Insane, buildings, &c
Government Hospital for tbe Insane, current expenses
Columbia Institution for the Deaf and Dumb
' Columbia Hospital for Women
Providence Hospital..
,
•
\...
Cliildren's Hospital
Saint Ann's Infant Asylum.'
National Association for the Relief of Colored Women and Children
Women's Christian Association
Industrial Home School
Maryland Institution for the Instruction of the Blind
Howard University
Apparatus for blind
,
Transportation of reports and maps to foreign countries
Maps of the United States
•
49
7
2
3
7
15
5
6
2
7
2
5
2
7
7
12
13
' 6
24
15
17
76
32
9
13
5
13
5
5
3
3
13
13
2
3
21
31
3
3
3
3
3
3
3
3
30
1
3
7
3
1
1
1
3
3
2
1
1
5
4
24
12
6
10
12
4
4
5
4
5
5
6
1
2
21
$79,631 15
6,905 82'
2, 660 21
100,175 56
42, 111 71
91, 631 49>
319 91
27,416 01
1, 538 06
341 67
16, 850 00
13, 535 15
21, 689 '82
51, 270 43
4, 263 13
134, 089 84,
33,699 12
56, 268 11
. 218;, 917 76
112,195 85
37, 358 97
566, 528 98
322, 526 69
79, 627 67
15,458 16
21,479 12
81, 857 90.
58, 353 09
' 9, 201 04
11,353 07
10, 660 82:
' %, 484 83
3, 088 76
4, 412 26
3,429 93
• 64, 207 47
5, 156 83
5,149 86
865 08
808 65
19, 697 42
.
5, 057 69
53, 956 24
66. 626 896, 426 64
181, 700 67
1, 218 84
7, 286 30
18, 660 33:
13,932 01
16, 404 28
2, 640 OQ
597 00
1, 986 29'
13, 235 91
304 57
20, 000 00'
156 71
41,031 29
32, 693 75
96, 041 15
270, 755 69'
42, 454 50
21, 625 88
15, 000 00
5, 033 19
,4, 948 63
8, 021 84
5, 003 50
6, 379 85
5, 366 33
18, 330 62
10, 000 00
217 69
5, 241 24
291"
FIRST AUDITOR.
Accounts adjusted.
Amount.
DISBURSEMENTS-Continued.
REDEMPTION ACCOUNTS—Continued.
Special relief acts
Miscfellaneous accounts...
15
114
$54,718 94
14, 994 21
DISTRICT O F COLUMBIA ACCOUNTS.
Refunding taxes. Washington redemption fund
.Redemption of tax-lien certificates
Wasbington specialtax fund
Redemption paving scrip and certificates'
Relief of the poor
Employment of the poor
'
Salaries and contingent expenses
1
Xmjirovement and repairs
.Constructing, repairing, and maintaining bridges
Public schools
Public schools, buildings and grounds
Metropolitan j)olice
Fire department
Courts.
Streets
Industrial Home Scbool
Building, National Association for Colored Women and Childi-en.
General expenses of District of Columbia, 1879
Healtb Departmeut
Markets
:
Waterfund....
Judgments
Telegraph and telephone service
Transportation of paupers and prisoners
Washington Asylum
Georgetown Almshouse
Government Hospital for tbe Insane
Washington As.\lum, buildings and grounds
Police station-houses, Wasbington
Miscellaneous expenses
'
Total.-...
:
4,873 57
910 04
3,198 84
21, 513 82
13, 068 30
18,143 53
16, 204 62
^88, 273 48
956, 273 06
9, 062 24
874, 209 70
216,334 19
374,306 16
^110,069 65
11, 651 83
'268,932 33
2, 612 72
7, 489 82
15, 511 82
46,199 54
2,741 67
109, 709 15
28, 419 87
13, 398 61
2, 250 71
49,116 91
1,940 40
76, 550 00
834 95
36, 093 72
9, 536 38
22,705 1,126,835,531 67
Number of certificates recorded
i
'.
Number of letters recorded
.- - - Judiciary emolument accouuts registered aud referred
,
Number of powers of attorney for collection of interest on t h e public debt
examined, registered, and
filed
^.
Requisitions answered
'..,
20,106
5, 381
514
2,339
1,109
SUMMARY S T A T E M E N T OF T H E WORK OF T H E O F F I C E , AS SHOWN BY
T H E R E P O R T S OF T H E VARIOUS DIVISIONS AND MISCELLANEOUS
DESKS.
'
•
CUSTOMS DIVISION.
Oonvprising the Accounts of Collectors of Customs for Receipts of Customs Eevenue, and Disbursements
forthe Expenses of Collecting the same, and also including Accounts of Collectors for Beceipts and
Disbursements in connection with the Bevenue-Cutter, Steamboat, Fines, Light-Bouse, and Mai-ineHospital Services, with Accounts for Official Emoluments, Debentures, Befunds of Duties, Sales of Qid
Materials, and Miscellaneous Disbursements.
Number of j
accounts. !
Receipts
Disbursements
Total
'
I
Amount.
8,450
6,394
$201, 806, 442 47
15, 759, 734 75
14, 844
217,566,177 22
292
R E P O R T ON T H E
FINANCES.
JUDICI.'VRY D I V I S I O N .
Corn/prising the Accounts of D i s t r i c t A t t o r n e y s , M a r s h a l s , Clerks, a n d Gommissioners, Rents; a n d Miscellaneous Gourt Accounts.
.y ' '
' N u m b e r of
accounts.
^
Disbursements
\
•PUBLIC DEBT
5, 863
$4,162,191, 00
DIVISION.
Comprising all .ilccounts f o r P a y m e n t of I n t e r e s t on the P u b l i c Debt, both Registered Stock a n d Coupon
Bonds, i n t e r e s t on DiUrict of Golumbia B o n d s , Pacific R a i l r o a d Bonds, Louisville a n d P o r t l a n d C a n a l
B o n d s , N'avy P e n s i o n F u n d , R e d e m p t i o n of United S t a t e s a n d D i s t r i c t of Columbia B o n d s , R e d e m p tion of Goin a n d Gurrency Gertifieates, Old Notes a n d B o u n t y Scrip, a n d Accoimts f o r Notes a n d F r a c tional Ourrency destroyed.
I N u m b e r of
a.ccounts.
Interest accounts
Redemption accounts
Total
^
W A R E H O U S E AND B O N D
Amount.
i
717'
107
$270, 415, 036 85
120, 982, 385 10
!
'824
391, 397, 421 95
DIVISION.
S T A T K M . E N T of T R A N S A G T I O N S i n B O N D E D M E R G H A N D I S E , a s shoivn by AGGOTTNTS
A D J U S T E D d u r i n g the fiscal y e a r e n d i n g J u n e 30, 1884.
Number of accouuts adjusted
1,103
Number of reports o f ' ' N o transactions"-received, examined,
aud referred...'
491
Balance of duties on mercbandise in warebouse per last report
| 2 1 , 834, 089 85
Duties on mercbandise wareboused
81, 453, 054 30
, Duties on merchandise rewareboused
1, 545, 947 03
Duties.00 mercbandise constructively wareboused
24, 222, 000 75
Increased and additional duties, &c
,.
3, 382, 408 08
Total
'
-'.
Contra:
Duties ou mercbandise witbdrawn .for consumptiou ..!
Duties ou mercbandise withdrawn fpr transportation
Duties ou merchaudise witbdrawn for exportation
,
Allowances foe deficiencies, damage, &c
Duties on witbdrawals for constrnction and repair of vessels.
D,aties on bonds delivered to district attorneys for prosecution
Balan ce of duties on mercbandise in warebouse
1...
Total.....
132, 437, 500 01
$79, 078, 851
3, 017, 394
24, 235, 020
7,673,236
117,159
884
18, 314,952
52 .
91
08
47
31
87
85
132,437,500 01
Special attention is called to the following summary of official work
performed on what is known as ^^ Miscellaneous Desks '^ in this bureau.
The total amount involved in these settlements during the fiscal year is
$1,470,087,686.44, and embraces a very large variety of accounts and
claims against the Government.
An examination of the work performed by the several clerks in charge
compels the conclusion that an additional division should be created to
be known as ^^ The Division of Miscellaneous Accounts/' and the whole
FIRST
29J
AUDITOK.
work to be supervised by a capable and efficient chief, whose duty will
be to superintend this work and insp'ect the accounts before they are
presented for signature of the Auditor.'
, ^
I t is for this reason that recommendation is made for an additional
chief of divisiou, who shall have charge of this class of accounts, affecting no less thiaiii 1,200 different appropriations.
'
MISCELLANEOUS DESKS.
No. 1.—Comprising Accounts of Disbursing Glerks of the Departments for Salaries, Salary Accounts of
the various Assistant Treasurers, andof the Gongressional Library, Public Printer, and Executive Office,
Accounts for Salaries of the Officers and Employes, House of Representatives,^ and the Accounts relating
• to the Goast Survey.
^
,
"
Divsbursements
-g 5
i
pl
. •
Amount.
479 ! $10, 396, 267 77
No. 2.—Comprising the Accounts of the Disbursing Glerks of the Departments for Gontingent Expenses,
Gontingent Expenses of the Souse of Representatives and Assistant Treasurers, Accounts of the Geological Survey, National Board of Health, and a very great Number of Miscellaneous Accounts.
Amount.
$2, 058 20
3, 440, 362 74
Receipts
Disbursements
Total...-
1,130 I
3, 442, 420 94
No. 3.—Comprising Accounts for Oonstruction of Gustom-Houses, Post-Offices, Gourt-Houses, and other
Public Buildings, Accounts of the Public Printer, and Life Saving Service, &c.
© Pl
Amount.
p%
Receipts
Disbursements.-.
Total . . . . .
.
0
34
1, 222
$1, 838, 463 91
8, 729, 665 64
1, 256
10, 568,129 55
No. 4.—Comprising the Accounts of the Treasurer of the United States for Oeneral Expenditures; the
Salary and Mileage Accounts for the Senate and House of Representatives, and the Accounts for Gontingent Expenses of the United States Senate.
, Amouut.
Receipts
Disbursements
Total
$655, 576, 721 94
591,185, 933 46
1,246,762,655 40
'294
REPORT ON T H E
FINANCES.
No. 5. — Comprising the.accounts of Mints and Assay Offices ; Salaries of the Civil List paid
directly from the Treasury on First Auditor^s Certificates, Captured and Ahandoned Property accounts ; Account^for the Legislative and Contingent Expenses of the United States
Territories and Transportation of tfnited States Securities.
Amount.
$95,135, 764 67
91,410,546 14
Receipts
Disbursements
Total . . .
186, 546, 310 81
No. 6.—Comprising the accounts ofthe District of Columhia.
$2, 018,493 75
3, 390, 031 63
Receipts
Disbursements
Total . . . .
5, 408, 525 38
No. 7.— Underthe Chief of the Warehouse and Bond Division, and Comi) rising Judgments
of the Court of Claims, Outstanding LiaMlities, Postal Beqiiisitions, Transfer of Appropriations, 4"C.
Amount.
1=1 o
DisbiirsGnieiits
'
-
. . .
1,267
$1, 229, 496 08
No. 8—Comprising accounts of the Light-House Estahlishment, Steaniboat InspectAon Serv?
-^
ice,<$"C.
0
*
i
1,916
Disbursements
Amount.
$3, 485, 077 58
No. 9.—Comprising accounts of the Bureau of Engraving and Printing, Marine Hospital
dishursements, and accounts of the Government Hospital for the Insane and other Charitable Institutions.
'
O m
'
If
Disbursements
.
..
..
..
.
134
Amount.
$2, 248, 802 93
COMPABATIVE STATEMENT, by FISCAL YEABS, of TBANSACTIONS in the F I B S T AUDITOB'S OFFlCE,from 1861 to 1884, inclusive.
[ N u m b e r of a c c o u n t s ,
e x a m i n e d a n d ad-1
justed.
Piscal years.
1861
1862.
1863
1864
1865
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1.884
© «
Total.
Receipts.
1,744
1,477
1,407
1,342
1,972
2,122
2,055
2,364
2,547.
2,441
2,864
4,511
5, 522
6,586
7,065
6,615
7,016
7,038
7, 207
7,035
6,814
7,193
8,149
8,608
Disbursements.
7,461
7,906
8,543
9,560
10, 520
13, 329
10, 812
11, 396
13, 352
12, 630
14,101
15, 293
14, 474
17, 237
17, 994
16, 847
17, 544
16, 381
17, 618
20, 046
20, 308
20, 802
22, 950
22, 705
^ fl
Amount.
^-2
"I
Total amount.
Receipts.
as
Disbursements.
B 00 IS)
^cd
9,205
9,383
9,950
10, 902
12, 492
15, 451
12, 867
13, 760
15, 899
15, 071
16, 965
19, 804
19, 996
23, 823
25, 059
23, 462
24, 560
23, 419
24, 825
27,081
27,122
27, 995
31, 099
31, 313
$40, 032, 704
47, 225, 611
67, 417, 405
81, 540, 726
90, 763, 635
221, 445, 243
218, 884, 931
215, 497, 955
231, 762, 318
240,196, 298
239, 338, 078
912, 200, 147
1, 202, 869, 370
875, 692, 671
1,144, 320, 298
1,139, 847, 330
696, 493, 659
959, 020, 393
917, 547, 049
1, 206, 298, 429
862, 066, 081
973, 657, 471
828, 360, 880
956, 377, 944
03
94
95
80
52
71
81
23
23
97
13
78
18
71
80
52
61
82
73
71
94
39
42
94
$201, 860,753 25
352, 564,687 88
890, 917,695 77
1, 447, 668,825 90
1, 755,151,626^ 75
1, 972, 713,889 06
2, 339, 633,571 08
1, 949, 304,257 09
1, 808, 644,481 50
1, 344, 512,789 41
1, 773, 277,492 08
1, 339, 778,632 45
1, 416,193,007 42
1, 283, 786,750 33
.1,491,427, 101 07
1, 746, 678,602 58
986, 401,191 96
1,287,812, 745 00
1,147, 581,192 79
1, 893, 413,941 53
1, 016, 464,134 81.
1, 025, 640,807 75
1, 361, 099,615 73
1,126, 835,531 67
$241, 893,457 ^ 8
790, 299 82
958, 335,101 72
1. 529,209 ,552 70
1, 845,915,262 27
2,194, 159,132 77
2, 558,518, 502 89
2,164, 802, 212 32
2, 040,406, 799 73
1, 584,709, 088 38
2, 012,615. 570 21
2,251, 978, 780 23
2, 619,062, 377 60
2,159, 479, 422 04
2, 635,747, 399 87
2, 886,525, 933 10
1, 682,894,851 57
2, 246,833,138 82
2, 065,128, 242 52
3, 099,712, 371 24
1, 878,530, 216 75
1, 999,298,279 14
2,189, 460, 496 15
2, 083,213, 476 61
7, 249
7,997
7,436
7,580
8,524
12, 635
lO;823
10,160
10, 859
10, 572
11, 426
12, 900
12, 433
.13,766
12, 860
12,163
13, 059
12, 729
13, 824
13, 768
15, 396
15,179
18, 871
20,106
727
1,065
1,339
1,316
1,824
1,909
1,735
1,737
1,900
' 2, 395
- 2, 239
2,356
2,339
1,905
2,282
2, 0482,055
2,473
3,219
3, 443
3,857
4,501
5,248
5,381
1,646
2,424
2,326
2,973
5,022
4,295
7,690
6,856
5, 672
5,138
5,362
4,149
2, 948
4,505
4,626
5,891
3,891
3,539
3,568
3, 200
.2, 339
?0
m
H
I—*
o
296
REPORT ON THE FINANCES,
The foregoing exhibits of the official work of this bureau present, in a
suminary, much condensed, the varied and increasing labor of this office.
The change in appropriations'made by Oongress in recent yeaxs, requiring expenditures to be limited to amouuts stated in each subdivision of stated service, has greatly increased the labor in the examination of accounts rendered thereunder,
The amount of clerical work performed during the last four years
has been greater per capita than in former years, as shown by the
records of the office, and this admonishes me that greater care and
vigilance should be exerted in the supervision of the work. It is for
this reason I would urge the creation of a new division in the office, to
be known as the ^^Division of Miscellaneous Accounts," and request is
made for an additional chief of division to, have supervision of all miscellaneous work. This will provide for an additional inspection of accounts stated, before signature of the Auditor, and secure a more
prompt adjustment of current accounts in the absence of clerks in
charge of the various desks enumerated.
In response to the recommendation in my last report, asking for ten
additional clerks for this bureau, an increase 6f four was authorized by
Congress, which relieved somewhat the great pressure upon the force
in adjustment of accounts; yet it is inadequate to the work required.
I t has become necessary to ask for detail of clerks fr,om other offices to
dispatch the pressing work waiting examination and audit in this
Bureau.
SUMMARY STATEMENT OF WORK AS SHOWN BY THIS R E P O R T .
Attention is called to the following statement of the work otvthis bureau for the fiscal year:
Number of accounts examined and adj usted
33, 421
Number of certificates recorded
20,106
Number of letters written
'
5, Z^l
Number of requisitions answered
1,109 <
Powers of attorney approved and liled
2, 339
Total amount involved in settlements made embracing receipts
and disbursments of public moneys
$2, 307, 939, 433. 93
.CONDITION OF OFFICIAL WORK.
I t is a pleasure to report that at no time within the last five years
has the work of this office been in so satisfactory condition.
All current work has been, kept well in hand, with no greater delay
in the general w^ork than is unavoidable in fhe' settlement of large
monthly and quarterly accounts, requiring much time in their examination and settlement.
The list of accounts awaiting adjustment has never been so small as
at this writing, during the period mentioned, yet some accounts are
necessarily held for explanation, completion of vouchers, &c., before
final settlement can be properly made.
In conclusion, I take much pleasure in commending the Deput^^
Auditor, chiefs of division, clerks and employes of this bureau for
intelligent and efficient services rendered.
,
I am, sir, very respectfully^, your obedient servant,
E. M. EEYNTOLDS,
Hon. W A L T E R Q . GRESHAM,
Secretary of the Treasury,
,
Auditor,
EEPOET OF TIE SECOND AUBITOE.
297
REPORT
THE SECOND AUDITOR OF THE TREASURY.
TREASURY DEPARTMENT,
SECOND AUDITOR'S O F F I C E ,
Washington, Octoher 10, 1884.
S I R : In accordance with section 283 of the Revised Statutes, and
your request of the 15th ultimo, I have the honor to submit my report
fbr the fiscal year ending June 30, 1884, showing the application of
moneys appropriated for the War Department and the Indian service,
the work performed in each division of the office during the year, and
the condition of the public business assigned to me at the close of the
year.
,
BOOKKEEPERS^
DIVISION.
Appropriations.
A p p l i a n c e s for d i s a b l e d s o l d i e r s
A r r a a m e n t of fortifications
A r m i n g and equipping t h e militia
Artificial limbs
A r t i l l e r y school. F o r t M o n r o e , V a .
B e u i c i a A r s e n a l , Benicia, Cal
B o u n t y , a c t J u l y 28, 1866.B o u n t y to volunteers a n d their wido\ys and legal heirs
B o u n t y t o v o l u n t e e r s a n d r e g u l a r s on e n l i s t m e n t
B o u n t y to the Fifteenth and Sixteenth Missouri Cavalry
Collecting, drilling, a n d o r g a n i z i n g v o l u n t e e r s
'.
Collection a n d p a y m e n t of b o u n t y , p r i z e m o n e y , &c., t o colored soldiers, &c
--C o n t i n g e n c i e s of t h e A r m y
C o n t i n g e n c i e s of t h e A d j u t a n t - G e n e r a l ' s D e p a r t m e n t
D r a f t a n d g'ubstitute fund
E x p e n s e s of t h e C o m m a n d i n g General'vS office
E x p e n s e s of m i l i t a r y c o n v i c t s
E x p e n s e s of r e c r u i t i n g
E x t r a p a y t o ofiicers a n d m e n w h o s e r v e d i n t h e w a r w i t h M e x i c o . . .
Frankford Arsenal, Philadelphia, Pa
G e n e r a l exxjenses
'
M a n u f a c t u r e or p u r c h a s e of m a g a z i n e g u n s
:
M a n u f a c t u r e of a r m s a t n a t i o n a l a r m o r i e s
Medical and hospital d e p a r t m e n t
Medical Museum and library
Mileage.
N#w York Arsenal
Ordnance service
O r d n a n c e , o r d n a n c e stores, a n d s u p p l i e s . . .•
:
O r d n a n c e m a t e r i a l , p r o c e e d s of s a l e s
P a y , &c., of t h e A r m y
P a y of t h e M i l i t a r y A c a d e m y
P a y of t w o a n d thi?ee y e a r v o l u n t e e r s . P a y of v o l u n t e e r s ( M e x i c a n w a r )
P u r c h a s e of S a w y e r ' s p a t e n t for c a n i s t e r s h o t \
P u r c h a s e of a r m s for v o l u n t e e r s a n d r e g u l a r s
P u b l i c a t i o n of Ofiicial R e c o r d s of t h e W a r of t h e E e b e l l i o n
P o w d e r and projectiles
P o w d e r depot, D o v e r , JST. J"
R e p a i r s of a r s e n a l s
R o c k Island Arsenal, Illinois
R o c k Island bridge, Illinois
:
Relief of s u n d r y p e r s o n s
Sea-coast b a t t e r i e s for i n s t r u c t i o n of m i l i t i a
S e c r e t s e r v i c e f u n d ( t r a n s f e r a c c o u n t , a c t M a r c h 3,1875 ; 18 S t a t u t e s ,
418) .
Signal Service, p a y
S i g n a l Service, m e d i c a l d e p a r t m e n t .
Repayments.
Drafts.
$1, 016
288,415
186, 653
191,542
3, 000
104, 619
60, 000
1.50, 000
$817 7 i
451 11
36, 697 38
9, 088 59
00
68
34
14
00
80
00
00
1,204 4 i
2, 744 37
76 94
26, 000 00
30 21
160 61
1, 031
210
• 48
24
161
1, 500 00
19, 575 80
2, 545 40
1, 750
7, 218
99,969
500
1, 500
183
30, 250
401, 000
193,191
10, 000
740
5, 500
118, 770
. 400, 000
75, 000
12, 225, 008
207, 000
124, 058
00
53
74
00
00
57
00
00
71
00
88
00
50
00
00
41
00
47
94
66
45
93
11
7, 525 21
8,720 23
13,157 83
"2," 267'49
1, 376 12
182 83
449, 397
11,493
6,376
1
04
93
93
60
25,000 00
37,417
42, 808
40, 000
40, 000
202, 500
9, 250
568
2 65
1 00
51
00
00
00
00
00
02
4, 955 78
208,000 00
3, 449 21
299
300
REPORT ON T H E
FINANCES.
.Bookkeepers^ dlvIsion-^Con tinxiGd.
A p p r o p r i a t i o n s.
Eepayments.
Drafts.
$15, 000
1, 122, 088
3.55, .505
126, 600
3, 494
10, 000
Springlield Arsenal, M a s s a c h u s e ! t s
'
S u p p o r t of N a t i o n a l H o m e for Disabled V o l u n t e e r - S o l d i e r s . . .
S u p p o r t of Soldiers' H o r a e
'
Soldiers' H o m e , p e r m a n e n t f u n d (22 S t a t u t e s , 565)
S o l d i e r s ' H o m e , i u t e r e s t a c c o u n t (22 S t a t u t e s , 565)
Testing machine
T o t a l d r a f t s a n d r e p a y m e n t s on acco'unt of 'War D e p a r t m e n t |
appropriations
I
00
03
56
00
75
00
65'65
3 89
17, 183,177 04
A p p r o p r i a t i o n s f o r the I n d i a n seroioe.
A d d i t i o n a l beef for I n d i a n s e r v i c e
A p p e a l in Crow Dog's case
B u i l d i n g s a t a g e n c i e s a u d rei^airs
Civilization f u n d
•
-.:.
C o n t i n g e n c i e s of t h e I n d i a n D e p a r t m e n t
Consoliflating I n d i a n a g e n c i e s
'
"
C o l l e c t i n g a n d e s t a b l i s h i n g S o n t h e r n C o m a n c h e s on r e s e r v a t i o n s o u t h
of A r k a n s a s Ri v e r
E x p e n s e s of I n d i a n c o m m i s s i o n s a n d of t h e b o a r d of I n d i a n commissioners
Fulfilling t r e a t i e s w i t h v a r i o u s ' I n d i a n t r i b e s
G r a t u i t y to certain U t e Indians
I n c i d e n t a l e x p e n s e s of t h e Indian, s e r v i c e
I n t e r e s t on t r u s t funds, &c
M a i n t e n a n c e a n d e d u c a t i o n of t h e L i n c o l n , G e r m a n , a n d G e r m a i n
g i r l s ( a c t s M a y 15, 1870, M a r c h 3, 1875, a n d M a r c h 1, 1879)
]N egotiatins: w i t h S i o u x for modification of t r e a t i e s
"-.
P a y of India.n a g e n t s , i n s p e c t o r s , school s u p e r i n t e n d e n t , interi3reters,
a n d police
P a y m e n t to U t e s for i n d i v i d u a l i m p r o v e m e n t s
P a y m e n t to N o r t h C a r o l i n a C h e r o k e e s
P a y m e n t of i n d e m n i t y t o P o n c a s
-..
P r o c e e d s of N e w Y o r k I n d i a n l a n d s i n K a n s a s
P r o c e e d s of C h o c t a w orplian r e s e r v a t i o n
P r o c e e d s of Sioux r e s e r v a t i o n s in .Minnesota a n d D a k o t a
Relief of L o u i s a B o d d y
'
Relief of d e s t i t u t e I n d i a n s a n d of I n d i a n s a t t h e Crow, F o r t B e l k n a p ,
and other agencies
R e i m b u r s e m e n t t o C r e e k o r p h a n fund
.'
R e m o v a l a n d s u p p o r t of c e r t a i n I n d i a n s
R e s e r v o i r a t h e a d w a t e r s of t h e M i s s i s s i p p i RiVer, .fee
School b u i l d i n g s , s u p p o r t of schools, (fee
S u p p o r t of v a r i o u s I n d i a n t r i b e s a n d b a n d s
S u r v e y s and a p p r a i s e m e n t of I n d i a n l a n d s a n d resi-irvation
S t o c k c a t t l e for I n d i a n i n d u s t r i a l schools
..'.'.
T e l e g r a p h i n g a n d p u r c h a s e of I n d i a n s u p p l i e s
T r a n s p o r t a t i o n of I n d i a n s u p p l i e s
'.
T r a v e l i n g e x p e n s e s of I n d i a n i n s p e c t o r s and o t h e r s
V a c c i n a t i o n of I n d i a n s
Miscellaneous items
.-.
48, 431
1,000
24,303
6, 924
48, 619
5, 285
29
00
64
24
00
00
4,126
888, 905
4, 666
124, 839
604, 370
76
35
66
26
37
3,000 00
2, 657 04
4, 233 42
5,188 00
2 904. 46
458 00
22 262 07
100 00
12,639 48
14 107 97
8, 468 75
5, 000 00
7, 816 32
150 00
195, 818 24
2.50 00
1, 977 22
2, 000 00
1,184 43
1, 608 04
89, 654 44
5, 400 00
. 5, 905 37
72,172 11
723 80
6,696 63
15, 664 00
31, 403 28
58, 722 86
1,898 21
81, 649 20
621,183
3, 496, 364
8, 535
25, 569
. 31,421
264,427
7, 757
, 236
3, 436
T o t a l d r a f t s and r e p a y m e n t s ( I n d i a n s e f v i c e ) .
47
62
00
44
04
85
81
00
55
389 68
S, 160 66
1,192 79
1,143 59
6, 684, 401 35 I
208.602 06
GENEBAL BALANCE S H E E T of APPBOPBIATIONS.
I
War.
Indian,
i.
DEBIT.
T o am'ount w i t h d r a w n from t h e Treasui-y J u l y 1,1883, t o J u n e 30,1884. $17,183,177 04
' 94, 005 77
T o a m o u n t of t r a n s f e r w a r r a n t s i s s u e d to a d j u s t a p p r o p r i a t i o n s
693,177 40
T o u r i e x p e n d e d b a l a n c e s c a r r i e d to s u r p l u s f u n d
T o a g g r e g a t e a n i o u n t of b a l a n c e s r e m a i n i n g t o t h e c r e d i t of all ap2,114, 911 38
p r o p r i a t i o n s J u n e 30, 1884
T.
Total .
$6, 684,'401 35
12,080 38
• 106, 954 95
12, 904,'864 57
20, 085, 271 59
19, 708, 301 2 5 '
2, < I 727
553, 927
100, 288
16,761,328
13, 076, 535
208, 602
16,166
6; 406, 996
CKEDIT.
By
By
By
By
b a l a n c e s on h a n d J u l y 1, 1883 .
'.
a m o u n t of r e p a y r a e n t s d u r i n g t h e y e a r .
a m o n n t of c o u n t e r w a r r a n t s i s s u e d t o a d j u s t a p p r o p r i a t i o u s .
a,mount of a p p r o p r i a t i o n w a r r a n t s i s s u e d d u r i n g t h e y e a r . . .
Total .
!
50
91
00
18
20, 085, 271 59
93
06
49
77
19, 708, 301 25
SECOND AUDITOR.
' 301
The following is a summary of the work performed in the bookkeep
ers' division incidental to keeping the accourits of the office:
1
Eequisitions registered, journalized, and posted, 4,909; settlemeuts
recorded, journalized', and posted, 3,670; settlements made in the division chiefly to adjust appropriatioiVs. and close accounts, 164; statements
^ of balances, &c.', furnished to settling clerks, 2,368; certiflcates listed
and indexed, 1,307; repay requisitions prepared for the War and Interior Departments, 514; appropriation warrants recorded and posted,
43; official bonds of disbursing officers entered, 01; certificates of nonindebtedness issued in cases of officers and enlisted men, 2,069; letters
written, 795. c The ainount drawn from the Treasury on settlements
made in this division was $133,203.26, w^hich included the, following
sums on Soldiers' Home account:
Wifchdrawii .from the " p e r m a n e n t fund" of the'Soldiers' Home and paid
to the treasurer of said Home, to meet current expenses (section 8, act
March-S, 187,^, 22 Stat., 565)
$126,600 00
Interest on Soldiers' Home permanent fund (same act)
3,215 75
Effects of deceased soldiers, credited to the permanent fund
1, 043 35
PAYMASTERS'
DIVISION.
Number of accouuts on hand J u l y 1,1883
. . . . . . 616
Received du.ring tlie year
.662
. , ^
'
Nnmber of acconnts audited and reported to the Second Comptroller...
"Kemaining on hand Jnne 30, 1884
•
,
.1,278
(i54
624
On July 1, 1883, seventy '^Ipngevity claims"^ remained unsettled;
eighty have been received since that date, and one hundred and fortyfour have been (lisposed of, leaving six on hand. The record of deposits by enlisted men under the act of May 15,1872, shows that 8,665
deposits were made, amounting to $471,204.75, and that the sum of
$382,001.87, heretofore deposited, was repaid to the men on their discharge from the service. The service records of two hundred and four
officers ofthe Army have been revised and corrected under the acts of
June 18, 1878, and\February 24, 1881.
The amount involved in 654 accounts, 144 claims, and 235 miscellaneous settlements was $15,851,126.98, as follows:
Amount disbursed by paymasters, as per andited accounts
$15, 674,937
Amonnt of longevity claims allowed under the '' Tyler decision"
21, 301
Amount certified to be due the Soldiers' Home on account of contributions (12.-^ cents per month), fines aud forfeitures hy sentence of
courts-martial, &c
132,145
Amount transferred to 'the hooks of the Third Auditor's Office, on
account of subsistence and quartermaster's stores, transportation
furnished soldiers on furlough, &c
7, 458
Charges raised against officers for overpayments, douhle payments,
erroneous musters, &c
9,679
Credits on acconnt of overpayments refunded and charges removed
on satisfactory explanation
'
•
.
4,938
Miscellaneons charges and credits
665
Total
43
52
76
46
53
33
95
15,851,126 98
Letters received, .966; letters written, 2,212; clerks employed,, 13o
•
MISCELLA.NEOUS D I V I S I O N .
Number of ordnance, medical, recruiting, and miscellaneous dishursing
accounts on hand Jnly 1, 1883
'
511
Received during the year
1,888
'
2, 399
Numher audited and reported to the Second Comptroller
o
„
. 2,044
Numher on hand J u n e 30, 1884
355
302 "
REPORT ON T H E
FINANCES.
The amount of disbursements allowed was $4,035,988.63, undet the
^following appropriations:
Ordnance, ordnance stores, &c., ordnance service, arming and equipping the militia, armament of fortifications, repairs of arsenals, and
other appropriations of the Ordnance Department$2, 049,180
Medical and hospital department, artificial limbs, Medical Museum
and library, and other appropriations of the Medical Department.'..
160,970
Contin gen cies of the Army, publication of Ofiicial Records of the War of
the Rebellion, expenses of military convicts, expenses of the commanding-general's offi^ce, contingencies of the Adjutant-General's Department, &c
, 117,316
Expenses of recruiting, collecting, drilling, and organizing volunteers,
bounties, and arrears of pay to colored soldiers, &c
Z..
306,292
Support of National Home for Disabled Volunteer Soldiers
1,402,229
Total
02
54
36
53
18
4,035,988 63
The record of payments to officers of the Army from 1815 has been
brought up to date, and a comprehensive index to the fifty-nine large
volumes of which the record consists is now being prepared. The register of payinents to officers of volunteers, in forty-eight volumes, is not
quite completed, but is so far advanced as to be of very great service.
The time of two clerks is occupied in furnishing statements of payments
to officers whose claims are being settled in other divisions. Prior to
October, 1883, the office had to depend upon the Paymaster-General of
the Army fbr statements of this kind. The number of payments to
officers (regular and volunteer) recorded during the year was 96,500, of
^ which twenty-five were double payments niade several years ago.
Letters written, 10,136; letters recorded, 1,468| clerks employed, 11.
INDIAN D I V I S I O N .
The following is a summary of the work of this division since last
report:
Money Property
accounts.' accounts. Clairas.
I
On hand July 1,1883
,.
Keceived during the year
J
Total
Audited^and reported to the Second Comptroller.
On hand June 30,1884
186
739
925
728
197
745
538
3,176
3,091
207
The amount allowed by this office in the settlement of money accounts
of Indian agents, special agents, inspectors, and other disbursing officers of the Indian seryice was $2,579,821.83, and the amount certified
to be due contractors and others for supplies furnished and services
rendered was $4,406,955.85,making the total disbursements $6,986,777.68.
Forty-nine transcripts of disbursing officers' accounts have been prepared for suit. The balances in dispute amount to $369,751.53 aud consist almost entirely of items disallowed by the accounting officers in
consequence of apparent infractions of law or regulations on the part
of agents. Some of these balanc(?s have been standing on the books
for several years, the limited force of the office precluding earlier
action.
I t is to be regretted that the force assigned to this division is not
always available for its current work. The time of one of the best
derks has been occupied for several months upon an investigation of
SECOND
30S
AUDITOR.
Cherokee Indian accounts under the treaty of 1835, while two others
are engaged in preparing a report of Union Pacific Eailroad settlements
which will require months of patient examination. These labors are at
the instance of the Court of Clairas and are entirely foreign to the ordinary business of the division.
The Indian Division has to state accounts under no less than three^
hundred and twenty-four heads of current appropriations, besides a
large number brought forward from previous years. The transactions
concerned in these accounts are of the greatest possible variety, and it
is scarcely necessary to say that the execution of the duties devolving
upon the clerical force employed demands all the best qualities of skilled
accountants as well as the sound judgment, general knowledge, and
faithful industry required in the performance of work of other kinds.
The number of letters written was 3,592; 924 letters were recorded,
aiid 22 clerks employed.
PAY AND BOUNTY DIVISION.
Examining hranch.
>->
A
o
'^<D
.^.
O
0
h>
bC
' '^
.t
'S
,o
i 1 i
00
C l a s s e s of claims.
a
so
^
a
5
15
S'
00
•
1
o
f2i
©
fl
6
-g
1
t|
00
o
1
^bfl
CM
3
W H I T E S0LD.IER8.
CommiBsloned ofiicers
.
}
Enlisted men.subsequentto April 19,1861—arrears > 26, 815
of pay and all bounties
}
240
Claims for nav nrior to Anril 19 1861
44
Olaims of laundresses sutlers tailors &o
^
10, 023 1,703 3,265 4,574 4,141
17
76
3:.
2,195
456
26, 561
134
2
1
1
692 1,127
13
9,082
12, 601 2,238 4, 004 5, 837 4,156
36, 2a4
366
•
36
11
511
59
COLORED S O L D I E R S .
Airears of pay and bounty .
...
8,263
Total
35, 362
Settling branch.
o
C l a s s e s of claiins.
1
i 11
1
bfl
bfl .
B
00
a
*^
3
flr-l
CO
o
S
Q.
W H I T E SOLDIERS.
Commissioned of&cers
)
Enlisted men, subsequent to April 19,1861—arrears >
of pay and all bounties
,
)
Claims for pay prior to April 19; 1861
C!laim8 of laundresses, sutlers, tailors, &c
598
3, 265
2,916
36
11
36
11
68
24.
855
24.
97T-
COLORED S O L D I E R S .
Arrears of pay and bounty
Total
82
692
646
6
680
4,004
3,609
74,
122
304
REPORT ON THE' FINANCES.
The claims settled and allowed averaged not quite $140.40 each, the
total amount being $506,698.70,. which includes the following items:
Payments under the ^^Tyler decision'' to officers out of service, and to
the legal representatives of deceased officers, $21,644.22; payments of
33J per cent, additional compensation under the act of March 2, 1867,
and decision of the Second Comptroller,-November 25,1.881, $35,924.73,
Ninety-six settlements were made Ltnder section 4,818 of the Revised
Statutes in favor of the Soldiers' Home for $208,732,70 unclaimed
moneys belonging to the estates of deceased soldiers of the United
States Army.
Letters written, 126,216; clerks employed, 64.
DIVISION F O R T H E INVESTIGATION OF Fi?JAUl).
On July 1, 1883, 6,533 cases remained on hand, 739 new cases were
received during the year, 559 cases \^ere disposed of, leaving 6,533 on
hand for future action. Abstracts of material facts were made in 328
cases of illegal or erroneous payments, and 35 cases were prepared for
suit and referred to the Department of Justice, The sum of $4,564.60
was recovered by suit and otherwise; judgments for $1,171.42 were
obtained but have not yet been satisfied, and $3,753,80 was returned
to the Treasury through the Pay Department, in cases of colored sol- .
diers and their heirs whose claims were certified more than seven years
ago but who cannot be found.
The 6,533 cases reinaiuing on hand consist of 1,940 unsettled claims
(372 white and 1,568 colored); 4,338 settled claims (973 white and 3,365
colored); and 255 cases of overpayments and double payments to officers. Apparent, alleged, or suspeci:ed fraud is involved in 4,637 of
these cases, and 1,896 are settled colored claims in which ,the claimants
could not be found within seven years after the claims were ready for
payment. After the lapse of that pericid the legal presumption is that
claimants who do not apply for their money are dead, and the amounts
certified to be due them are covered into the Treasury. About onefourth of the 1,896 seven-year cases have been called up by persons
claiming payment and are now undeirgoing a careful investigation.
Six clerks were employed in this division during the year, and 5,284
letters were written.
PROPERTY DIVISION.
The number of property accounts (quarterly returns of clotliing, camp
and garrison equipage) on hand July 1, 1883, was 4,356; 3,759 were
received, and 4,089 were settled during the year, leaving 4,026 on hand
June 30, 1884. Charges amounting to $1,500.92 were made against
officers (including volunteers) for- property not accounted for, and the
sum of $1,547.80 was collected and repaid to the appropriations from
which the articles were purchased. Certificates of non-indebtedness
were issued to 1,274 officers, chiefly those who served during the late
war, who have claims pending either in this office for arrears of pay or
in the Third Auditor's Office for the value of horses lost in service.
Letters written, 2,112; letters recorded, 1,374; clerks employed, 5.
SECOND
305
AUDITOR.
DIVISION OF INQUIRIES AND REPLIES.
Subjoined is a tabular statement of inquiries received, answered, and
a^waiting replies:
On hand
July 1, 1883.
Officer making inquiry.
Adjutant-General ^
Quartermaster-Greneral
Commissary-General
Chief of Ordnance
Commissioner of Pensions
Commissioner of the General Land Office.
Third Auditor
:
.Fourth Auditor.
Miscellaneous
i...
Total .
Received.
320
On hand
Answered. June 30, 1884
5,733
634
1,647
20
5, 080
77
1,878
9
526
1,310
Miscellaneous icorlc,
6,357
674
1,596
18
4,856
78
1,863
8
526
260
4
52
2
544'
2
72
2
15, 976
938
/
Eolls and vouchers copied for the Adjutant-G-eneral of the Army,
429 ; letters, affidavits, final statements, certificates of disability, and
other papers, 1,824; pages of foolscap used in copying, 1,587; letters
written, 3,584; signatures of claimants compared with their signatures
while in the service, 5,377 ; descriptive lists of soldiers briefed and filed
away, 22,344. Overpayments and double payments amounting to
$5,864.14 have been discovered and proper steps taken toward securing restitution. Of this amount $2,870.11 consists of overpayments to
soldiers of volunteer cavalry regiments for use and risk of horses furnished by themselves, and'will be deducted by the Third Auditor from .
the value of horses lost in service, in accordance with section 3,482 of
the Eevised Statutes, Average number of clerks employed, 16.
DIVISION OF CORRESPONDENCE AND RECORDS.
Letters received, 35,040; letters written, 15,201; letters referred to
other offices, 279; letters returned uncalled for, 1,114; claims received,
briefed, registered, and distributed, 20,748; miscellaneous vouchers
received, stamped, and distributed, 49,879; letters with additional
evidence received, briefed, and registered, 17,211. Average number of
clerks employed, 4.
ARCHIVES DIVISION.
Paymasters' accounts received from the Pay Department
665
Confirmed settlements received from tlie Second Comptroller entered, indexed, and filed: paymasters', 72; Indian, 2,751; raiscellaneous, 1,177....
4,000
Miscellaneous accounts witbdrawn and returned.to
files
3,618
Vonchers withdrawn for reference
:
^.. 42,957
Vonchers returned to
files
74,902
Vouchers briefed and examined
648,189
File boxes brieted and s t e n c i l e d . . . . .
13,372
Muster and pay rolls repaired '
10,208
•Settlemeiits (Indian and miscellaneous) rearranged aud placed in file boxes. 105,470
Mexican war vouchers re-examined ,and properly
filed
116, 000
Letters written
324
Number of pages copied
3,264
Clerks emx>loyed
16
Nearly all the rolls and vouchers pertaining to the war with Mexico
were withdrawn from the files thirty years ago ahd have been kept
5022 F
20
306
KEPORT ON T H E
FINANCES.
separate ever since. They are now being carefully overhauled and returned to their proper places where they Avill be as easy of access as
those connected with the late war—any one of which can be found in
a few minutes. Owing to age, indifferent paper, and constant use
many of the abstracts of disbursementsffiled with paymasters' accounts,
to which they are indexes, have become so fragile and torn that they
can be handled with difficulty, and it has been found absolutely necessary to copy them. Over 2,500 pages were thus replaced during the
year. For the purpose of facilitating the work of returning musterrolls and vouchers to the accounts to which they belong, the file boxes
containing settlements subsequent to 1860 have been numbered consecutively. Clerks withdrawing vouchers are required to indorse the
number of the box on the voucher, so that its place in the files is shown
at once without the necessity of referring to any abstract, register, or
other record. This simple device has been found to work admirably.
RECAPITULATION.
Description of accounts, &c.
On hand
July 1,1883.
Eeceived.
On hand
Disposed of. June
30,1884
DISBURSING ACCOUNTS.
Eecruiting, ordnance, medical, and miscellaneous
. . . .
Indian agents
..
Total dishursing accounts
616
662
654
624
511
186
1, 888
739
2, 044
728
355
197
1,313
3, 289
3,426
1,176
36,112
14, 919
13, 844
37,187
68
3,108
3,091
8S
36,180
18, 027
16,935
37,272
4, 356
79
3,759
666
4,089
538
4; 026
207
CLAIMS.
Arrears of pay and hounty, including lono'evity claims . . .
. .....
Total claims .
P R O P E R T Y ACCOUNTS.
Clothing, camp, and gari-ison equipage
Total property accounts
Aggregate of accounts and claims
4,435
4, 425
4,627
4 233.
41,928
25, 741
24, 988
42, 6'81
Amount draAvn out of the Treasury in payment of claims and in ad'
vances to disbursing officers
$23,867,578 39
Less repayments on account of unexpended balances, &c
762,529 97
Net amount paid out
Total number of letters written
Average number of clerks employed
23,10j, 048 42.
-.
169,456'
168
It will be perceived that there is a slight increase in the number of
accounts and claims remaining on hand, as compared with last year's
returns. With an inadequate force of clerks no other result could be
expected, and I see no prospect of bringing the work up to date so long
as claims arising out of the late war continue to be filed at the rate of
one thousand per month.
CLAIMS OF INDIAN SOLDIERS.
The 36,204 claims pending in the examining branch of the pay and
bounty division include 1,224 claims of Indians who served in the war
,
SECOND AUDITOR.
dUJ
of the rebelliouo Ko action has been taken in these cases other than t®
acknowledge their receipt and to call upon the Adj utant-General of tim .
Army for the military 'history of the soldiers. The applications im
many cases are very imperfect, and even in those that are correct im
form no confidence is felt in the statements of the claimants and their
witnesses, nor has this office any means of verifying or disproving
said statements. In some instances questions of identity, heirship, &C..5
are involved that can only be determined by special investigationo I
recommend that a small appropriation be placed at the disposal of this
office to defray the actual and necessary expense of investigating these
and other claims of like character.
THE SOLDIERS' HOME ACCOUNTSo.
The accounts of the Soldiers' Home for moneys belonging to the estates of deceased soldiers of the United States Army which have remained unclaimed for three years are nearly all settled. As soon as
they shall have been fully disposed of the accounts of deserters will be
taken up. In the mean time the Adjutant-General has been requested
to furnish such information in regard to soldiers who have deserted
from the regular Army since 1815 as will enable this office to ascertaiR
the amount of ^^ all.forfeitures on account of desertion'' which, by the
act of March 3, 1851 (Section 4818 Revised Statutes),, are set apart a n i
appropriated for the support of the Home.
The total amouiit, from all sources, placed to the credit of the permar
nent fund of the Soldiers' Home under section 8 of the act of March 3,188S0
from the date of said act to September 30,1884, is $547,840.78. From
this fund payments amounting tq $174,029.66 have been made to the
Treasurer of the Home to meet current expenses, leaving $373,311.12
to the credit of said permanent fund.
A STATUTE OF LIMITATION RECOMMENDED.
I beg leave to invite attention to the remarks under this head in my
last ^annual report (which will be found on page 398 of the Finance^
Eeport for 1883), and to renew the recommendation, therein made for
the passage of an act which will bar and preclude from settlement all
claims growing out of the late war not presented fbr payment within
one or two years after the enactment of such a law. Another year's exj)erience has strengthened my conviction that a law of this kind is absolutely necessary for the protection of the Government, and that it
would not operate to the prejudice of honest claimants.
THE CLERICAL FORCE.
The conduct of the clerks of this office merits approbation. As M
body they are diligent, faithful and efficient. Considering the importance of their duties, their long experience and unquestionable integrity
many of them are entitled to a more substantial recognition than th©
annual thanks of the head of the Bureau, but the Second Auditor's
Office, in consequence of a paucity of the higher grades of clerkships^
has always been notorious for tardiness of promotion. When a vacancy
occurs in one of the higher grades it is an embarrassing and a thankless
duty to select a man for promotion, because thei:e are never less tham
twelve or fifteen applicants equally deserving of advancement." In the
belief that the efficiency of the clerical force will be greatly promoted
308
REPORT ON THE FINANCES.
by a fair allowance of higher grade clerkships, I have, in my estimate
for salaries for the ensuing fiscal year, asked for the number of clerks
now authorized by law (185), but have so classified them as to make
the proportion of chiefs of division and third aod fourth class clerks
approximate a little more closely than it now does to the classification
in other bureaiis of the' Treasury Department. This can be accomplished at an increase of $2,920 per annum, a little more than one per
cent, of the present expenditure.
Yery respectfully,
O. FERRISS,
Auditor,
The
Hon.
SECRET.A.RY OF T H E T R E A S U R Y .
EEPORT OF THE THIRD AUDITOR.
309
REPOET
OF T H E
THIRD AUDITOR OF THE TREASURY.
TREASURY DEPARTMENT,
T H I R D ^^UDITOR'S O F F I C E ,
Washington, JD, C , Octoher 15, 1884.
SIR : I have the honor to transmit herewith report of the operations
of this office for the fiscal year which ended June 30, 1884, The following statement shows, in tabular form, thenumber and amount of accounts and claims remaining on hand unsettled at the close of the previous fiscal year, the number received and audited, and the number remaining unsettled June 30, 1884, viz:
Description of accounts.
<1
Quartermasters' money.
Quartermasters' property...
Commissaries' money
...
Pension agents' m o n e y . . . . . .
Engineers' money
Signal officers' money
Signal officers' p r o p e r t y . . . . .
Montana war claims
Claims for horses lost
Claims for steamboats destroyed
Oregon war claims
Miscellaneous claims
State war claims
Total...
Accounts (monthly and
quarterly) received in
fiscal year ended June
30, 1884.
B E P O B T of BUSINESS TBANSACTED in the OFFICE during the fiscal year ended
June 30, 1884.
Accounts (monthly and
quarterly) settled in
fiscal year ended June
30,1884.
Number.
Amount involved.
Accounts (monthly and
quarterly) unsettled
June 30,1884.
Number.
Amount involved.
$1, 706, 041 31
126, 804 17
692
565
1,407
364
64
219
193
40
11,523
9
15
2,453
5
46, 213 50
2, 909 90
3,165, 942 97
908,163 59
83
702
21, 620
15
713, 493 45
8, 814 38
9, 389, 571 31
4, 622, 610 57
16, 766
92,674,094 13
37, 487
94, 067, 484 13
1,261
883
1,307
315
50
188
279
40
5,451
3,635
3,740
2,092
1,868
287
247
874
6,834
762
75
699
15, 328
15
17
18
8,745
5
25, 891
28, 362
4,204 $14, 427, 743 95
4,058
2, 996, 425 22
1,992
49, 521,153 00
1,819
273 20, 611, 671 09
867, 066 74
216
960
1, 464, 351 39
72, 089,177 65
2, 193, 234 85
111, 365 69
248 00
1,768, 575 53
311
312
REPORT ON T H E FINANCES.
T H E BOOKKEEPERS^ DIVISION.
The annexed statement shows the amount drawn out of certain of its
appropriation accounts, and also the repayments made through this
office into the Treasury, and is,a full exhibit of its financial operations
during the fiscal year:
STATEMENT showing the FINANCIAL OPEBATIONS of the OFFICE during the
fiscal year ended June 30, 1884.
•.9-2 a
Total.
^ ^ ® i
*» ® fl ^
§bx)S2
6
1.9 an
T h e n u m b e r of r e q u i s i t i o n s d r a w n b y
t h e S e c r e t a r i e s of W a r a n d I n t e r i o r
on t h e S e c r e t a r y of t h e T r e a s u r y i s
3,869, a m o u n t i n g t o $94,676,456.46,
a n d p a i d in t h e m a n n e r s e t forth,
o u t of t h e following a p p r o p r i a t i o n s :
R e g u l a r supplies, Q u a r t e r m a s t e r ' s Department
;.
52,968,327 59>
$2, 928, 295 21 $34, 579 66 $5, 452 72
Incidental expenses. Q u a r t e r m a s t e r ' s De4, 894 42 11, 351 !
692, 009 98
partment
675, 763 57
Barracks and quarters, Quartermaster's
. 3, 575 82 5, 490 86
696, 063 89
705,130 57
Department
i
94, 939 31 4, 082 50
3, 519, 875 64
3, 420, 853 83
A r m y transportation
1, 585, 993 04
1, 586, 227 5^
234 55
A r m y t r a n s p o r t a t i o n (Pacific r a i l r o a d s ) . .
F i f t j ' p e r cent, of a r r e a r s of A r m y t r a n s p o r t a t i o n d u e c e r t a i n l a n d - g r a n t rail89, 379 57
89,417 44
37 87
roads
1, 670, 274 85
1, 670, 236 08
Clotbing, camp and garrison equipage
38 77
835 50
93,178 77
92, 343 27
National cemeteries
P a y of s u p e r i n t e n d e n t s o f n a t i o n a l ceme59, 944 00
59, 914 00
30 00
teries
100, 493 62
99, 992 48
C o n s t r u c t i o n a n d r e p a i r of h o s p i t a l s . '
193, 620 OO193, 620 00
Cavalry and artillery horses
240, 921 26
239, 542 50
1, 271 26
O b s e r v a t i o n a n d r e p o r t of s t o r m s
5, 000 00
Signal Service
,
5, 000 00
57, 786 75
S i g n a l Service, r e g u l a r s u p p l i e s
57, 786 75
1, 475 00
S i g n a l Service, i n c i d e n t a l e x p e n s e s
1, 475 00
85, 908 00
Signal Service, b a r r a c k s and q u a r t e r s
85, 908 00
275
00
18,
342 5 ^
67
59
S i g n a l Service, t r a n s p o r t a t i o n
18,
8,160 18
S i g n a l Service, c l o t h i n g , '&c
8, 160 18
000
00
152,
004 78
S i g n a l Service, s u b s i s t e n c e
4,
999
1, 004 79
, 146,
A r m y and N a v y Hospital, H o t Springs,
Ark
1, 000 00
56, 000 00
55, 000 00
C l a i m s for q u a r t e r m a s t e r s t o r e s a n d comn i i s s a r y s u p p l i e s , a c t J u l y 4, 1864
2, 730 08
2, 730 08
O b s e r v a t i o n a n d e x p l o r a t i o n in t h e A r c t i c
Seas
i..
12, 945 30
57 20
13, 002 50'
M a i n t e n a n c e a n d r e p a i r of m i l i t a r y tele32, 038 25
g r a p h lines
32, 000 00
38 25
200, 000 00
Military posts
•
200, 000 00
R e i m b u r s i n g S t a t e n n d c i t i z e n s of Calif o r n i a for e x p e n s e s in s u p p r e s s i n g M o doc I n d i a n hostilities
261 01
261 01
M i l i t a r y p o s t s for t h e p r o t e c t i o n of t h e
70, 476 00
Rio G r a n d e frontier
1, 000 00
71, 476'00R o a d from M o u n d C i t y t o t h e n a t i o n a l
5, 000 00
cemetery, Illinois
5, 000 00
H e a d s t o n e s for g r a v e s of s o l d i e r s in pri25,1300 00
5, 356 14
• vate cemeteries
30, 356 14
Constructing jetties and other works at
South Pass, Mississippi River
,
150, 000 00
150, 000 00
A r m y depot building at Saint Paul,
Minn
,
23, 500 00
23, 500 00
R o a d from C h a t t a n o o g a t o n a t i o n a l ceme2, 500 00
tery, Tennessee
^
2, 500 00
25, 000 00
P u r c h a s e of A r l i n g t o n e s t a t e
,
25, 000 00
15,184 95 4,041 76
Engineer appropriations
8, 791, 018 05
8,810,244 7 e
17 97 1, 068 54
S u b s i s t e n c e of t h e A r m y . . . ^
1, 505, 775 40
1, 506, 861 91
S u p p o r t of m i l i t a r y p r i s o n a t P o r t L e a v 85, 596 7 5
enworth, Kansas
85, 596 75
70, 877,160 35
A r m y pensions
70, 770, 691 24 106,469 11
R e l i e f of suflerers from overflow df Ohio
361,243 60^
River and its tributaries
243 60 361, 000 00
THIRD
313
AUDITOR.
Transfers not involving expenditure of
money from the
Treasury.
STATEMENT showing the FINANCIAL OPEBATIONS of the OFFICE, during the
fiscal year ended June 30, 1884—Continued.
00
li
§1
Claims paid.
8
Relief of sufferers from overflow of Mississippi River and its tributaries
Relief of Sallie Spence, act April 23,1884..
Relief of T. J. Boyles, administrator of
estate of Marcus Radich, deceased, act
May 13 1884
Relief of Santiago de Leon, act June 12,
1884
..
Relief of Mary L. Walker and Ella
Walker, act May 3,1884
Total.
$170,000 00 $170, 000 00
100 OO
100 00
440 00
440 00
2, 988 00
2, 988 00
1,858 50
1,858 50
91, 978, 732 50 2,126,478 80 34,858 60 536, 386 5094, 670,456 40
T ot al
The number of credit and counter requisitions drawn by the Secretaries of War and Interior OB
sundry persons in favor of the Treasurer of the IJnited States is 1,483, on which repayraents into the
Treasury have been madethrough the Third Auditor's Office during the fiscalyear ended June 30,1884, aa
follows:" deposits, $16,648,864.84; transfers, $42,242.82; total, $16,691,107.06.
The number of certificates of deposit received, entered, and listed during the fiscal year 1884 is 3,069.
THE QUARTERMASTER DIVISION.
The money accounts and property returns of the Quartermaster Department and of the Signal Service are examined and adjusted in this
division.
The accounts of quartermasters cover a wide range of money and
property responsibility.
Under the provisions of the act of March 3, 1883, and subsequent
acts making appropriations for the Signal Service, the appropriations
for said service cover nearly as wide a range of expenditure as that for
the Quartermaster Department, although the aggregate of the disbursements is not so large. The same system of accountability for
funds and property ofthe Signal Service obtains as in the Quartermaster Department, and the same mode of credit is applied.
Quartermaster.
. Number.
On hand per last report
Received during the fiscal year . . .
•.
:
Total
Reported during the fiscal year
Remaining unsettled
Total
...
....
.
Amount.
Property
returns.
1,261
3,635
$3, 038, 494 34
13, 095, 290 92
88a
3, 740
4, 896
16,133,785 26
4,62a
4,204
692
14, 427, 743 95
1, 706, 041 31
4,058
565
4,896
16,133,785 26
4, 62^
314
EEPORT ON THE FINANCES.
~
Signal.
R e c e i v e d d u r i n g t h e fiscal y e a r
Total
=
R e p o r t e d d u r i n g t h e fiscal y e a r
Reraaining unsettled
Total
-
--
/
-
Oo b a n d p e r last report
R e c e i v e d d u r i n g t h e fiscal y e a r
Total
R e p o r t e d d u r i n g t h e fiscal y e a r .
Remaining unsettled
.'
Total
...
,
l\ 153
435
978, 432 43
216
219
867, 066 74
111, 365 69
960
193
435
978, 432 43
1,153
T o t a l q u a r t e r m a s t e r . Signal, a n d supplemental
settlements.
Supplemental settlements.
Money.
279
874
$758, 730 80
219, 701 63
188
247
-
Property
returns.
Amount.
Money.
Number.
Amount.
Amount.
$3, 797, 225 14
14, 223, 429 13
808
$908, 436 58
2,611
9,304
. 808
908, 436 58
11, 915
18, 020, 654 27
808
908, 436 58
10,246
1,669
16,203,247 27
1, 817, 407 00
808
908.436 ^R
11, 915
18. 020. 654 27
Iiumber of letters written, 7,238; average number of clerks employed,
20f; numberof vouchers examined, 412,617; number of pages of manuscript written, 12,415.
THE SUBSISTENCE AND ENGINEER DIVISION.
The transactions of this division for the fiscal year are shown by the
following statement, viz:
Engineer accbunts.
Subsistence accounts.
Number.
Number.
Amount.
Amouiit.
O n h a n d p e r l a s t r e p o r t , J u n e 30, 1883
R e c e i v e d d u r i n g t h e fiscal y e a r
1, 307
2,092
$1,400, 610 71
3, 060,165 90
50
287
$5, 681,287 74
14,930,383 35
Total
R e p o r t e d d u r i n g t h e fiscal y e a r
3,399
1,992
4,460, 776 61
2, 996,425 22
337
^ 273
20, 611, 671 09
18, 418, 436 24
R e m a i n i n g o n h a n d J u n e 30, 1884
1,407
1,464, 351 39
64
2,193, 234 85
INumber of vouchers examined, 123,041; number of letters wrifcten,
1,401; number of differences written, 1,362; number of calls answered,
3,533; numberof clerks employed, 9.
THE CLAIMS DIVISION.
MISCELLANEOUS CLAIMS.
Number.
Amount
claimed.
Amount
allowed.
€ n hand J u n e 30, 1883
Received during the year .
15, 328
8,745
$10, 442, 606 15
2,112, 908 13
Total...
Disposed of during the year.
24,073
2,453
12, 555, 514 28
3,165, 942 97
$2, 659, 399 93
On hand J u n e 30, 1884.
21, 620
9, 389, 571 31
2, 659, 399 93
T H I R D AUDITOR.
3 15
OBEGON and WASHINGTON I N D I A N WA.B CLAIMS—185^-^56.
Amount
claimed.
Number.
On hand June 30 1883
..
Received during the year. •
....
Total
Disposed of during the year
'.
On hand June 30, 1884
Amount
allowed.
699
18
$10,434 28
1, 290 00
717
15
11,724,28
2, 909 90
$1,926 98
702
8, 814 38
1, 926 98
t
LOST VESSELS, ^^c, MABCH 3, 1849.
On hand June 30 1883
Received durino- the year
.'
,
Total
Disposed of during theyear
.
75
17 ^
'.. .
. . . . . . .
On hand June 30, 1884
$702, 763 87
56, 943 08
92
9
759,706 95
46, 213 50
$25,680 00
83
713, 493 45
25, 680 00
Number of letters written during the year, 2,150.
T H E STATE A N D H O R S E CLAIMS D I V I S I O N .
STATE CLAIMS.
Montana Nez
Perc6 Indian war
claims.
f
.
Suspended accounts.
Original accounts.
Number. Amount. Number.
Number.
Amount.
Amount.
On hand June 30,1883
Received durino- the fiscal year
40
$248 00
15
5
$5,114,216 19
416, 557 97 ^
28
6
$4,935,141 52
740, 325 61
Total
Rexiorted during thefisoal year .
40
248 00
20
5
5, 530, 774 16
908,163 59
34
5
5, 675,467 13
57, 002 73
Onhand June 30,1884
40
248 00
15
4, 622, 610 57
29
5, 618, 464 46
HOBSE CLAIMS.
Original accounts.
Number.
Onhand June 30, 1883
:
Recorded during the fiscal year
Reconsidfered during the fiscal year
Total
.
.
. . .
Reported allowed during the fiscal year
Reported disallowed during the fiscal year
Reported rejected during the fiscal year.
Total.
..
Deducting claims disposed of, there remain on, hand June 30,1884
.
.
Amount.
5,451
6,743
91
$966,518 60
916, 966 60
11, 894 50
12,285
1. 895, 379 70
721
97,188 67
21,417 75
8,197 75
41
762
126, 804 17
11, 523
1,768, 575 53
iiumber of briefs, 1,582 ; number of claims examined and suspended,
2, 66*ynumber of letters recorded, 6,266; number of letters written,
17 400; nuniber of clerks employed, 7.
316
REPORT ON T H E
FINANCES.
THE ARMY PENSION
DIVISION.
The following tabular statements show the work of this division
during the fiscal year:
.
ACCOUNTS of P E N S I O N AGENTS and AMOUNTS INVOLVED.
•
A r m y pensions.
Amount.
No.
A c c o u n t s on h a n d J u l y 1,1883 . . . . . .
Accounts received during the y e a r .
Total
A c c o u n t s r e p o r t e d t o Second Comptroller
c
Accounts remaining unsettled J u n e
30,1884
...
T o t a l -'.
:
A r r e a r s of p e n s i o n s .
No.
Total.
Amount.
No.
Amount.
246 $63, 911, 736 70
219^ 57, 514,190 51
69'
206
$27, 464 09
52, 606 40
315
425
$63, 939, 200 79
57, 566, 796 91
465
275
80, 070 49
740
121, 505, 997 70
121, 425, 927 21
204
49, 364,189 46
172
52, 630 59
376
49, 416, 820 05
261
72,061,737 75
103
27,439 90
364
72, 089,177 65
465
121, 425, 927 21
275
80, 070 49
740
121, 505, 997 70
MISCELLANEOUS ACCOUNTS BECEIVED and AUDITED.
R e i m b u r s e m e n t c l a i m s u n d e r s e c t i o n 4718 R e v i s e d S t a t u t e s
liOst d e s t r o y e d , a n d c a n c e l e d p e n s i o n c h e c k s
.
" .
.
P e e s of exaiiiining s u r g e o n s p a y a b l e from s u r p l u s fund
A d v e r t i s i n g , N e w Y o r k H e r a l d , p a y a b l e from s u r p l u s fund
M o n e y r e c o v e r e d b y C o m m i s s i o n e r of P e n s i o n s , d u e B e t s e y B l a c k m a n
Relief of M a r y L . a n d E l l a W a l k e r , a c t M a y 3, 1884
^
No.
Amount,
1,341
97
2
1
1
1
$97, 685
3,636
116
52
983
1, 858
1,443
1.04, 332 95
76
19
50
80
20
50
COMPABATIVE STATEMENT, shoxuing N U M B E B of ACCOUNTS and AMOUNTS
INVOLVED, on HAND and UNSETTLED July 1, 18G9, together with those BECEIVED and A UDITED each fiscal year since.
Received.
Number.
On h a n d J u l y 1, 1869
R e c e i v e d a n d a u d i t e d fiscal year—
1870
1871
1872
1
1873....
•
1874
1875
...
.
1876
1877
:
1878..
1879
1880
. . .
.1
1881
1882
1883.
1884
Total
Dednct amount audited
Ralajice on h a n d J u n e 30 1884
Number.
Amount.
29
44
26
92
26
54
99
30
18
64
95
54
62
60
86
631
789
900
795
786
619
1,150
' 952
715
281
277
555
416
1,773
1,819
$25, 596, 876
32, 813, 334
40, 000, 205
33, 926, 556
26, 431, 956
19, 888,-428
48, 433, 036
34, 067, 985
24, 133, 591
25, 765, 870
31,169,748
54, 973, 659
37, 528, 064
41,665,163
49, 521,153
12, 822
12, 458
598, 004, 808 22
525, 915, 630 57
12, 458
364
72, 089,177 65
637
....
. . .
'..
•
Audited.
714
930
684
711
864
798
741
834
538
256
547
449
'455
1,796
1,868
Ambunt.
$34, 811, 593 83
27, 743, 819
28, 513, 262
28, 661, 597
28, 756, 702
29, 708, 332
29, 572, 855
28, 348,161
27, 899, 359
33,194,149
26,123, 111
61, 010, 132
50, 666, 841
50,191, 885
55,131, 872
57, 671,129
39
28
68
19
71
52
92
43
52
58
01
39
66
29
00
525, 915, 630 57
THIRD
317
AUDITOR.
AMOUNTS DISBUBSED by P E N S I O N AGENTS as shown i
CUBBENT.
Agent.
Agency.
Widows.
Invalids.
H e n r y Cox
Theophilus Gaines
F r e d . Knefler
A d a C. S w e e t
Jacob Rich
N . A. A d a m s
R.M.Kelly
Selden Connor
D . W . Gooch
Samuel Post
E . L. W h itford
T.L.Poole
C h a r l e s R. C o s t e r
A . T . Wikoff
Russell E r r e t t
-.. H . G . S i c k e l
D . T. B o y n t o n
H e n r y R. G i b s o n
Edward Ferguson
San Francisco, Cal
Washington, D. C...'.
Indianapolis, Ind
Chicago. Ill
Des Moines I o w a
Topekii' K a n s
Louisville, K y
Augusta, Me
;
Boston, M a s s
Detroit Mich
Concord N . H
Svracuse N. Y
is"'ew T o r k City, N . Y
C o l u m b u s , Ohio
Pittsburgh, Pa
Philadelphia, P a "
KnoxviUe, T e n n
Do
Milwaukee Wis
T H E I B ACCOUNTS-
$347,602
2, 587, 362
3, 516, 238
4,010,054
3, 062, 344
3,336„458
911,727
1,189, 805
2, 448, 797
2,180,173
1, 424, 642
2, 619, 270
1, 540, 403
3; 774, 946
2, 097,172
1, 930, 235
85, 083
1, 401, 332
2, 547, 455
.
1...
Total
72
22
43
01
89
05
07
72
90
49
94
85
39
18
63
00
48
25
74
$38, 540
424, 252
479, 424
580, 845
240,164
370, 295
233, 316
150, 820
572, 663
218, 730
191,123
406, 825
455, 060
711,073
336, 433
464, 662
9,163
452, 827
240, 778
41, Oil, 106 96
Minors.
75
57,
33
56
89
38
98
74
72
42
54
57
73
02
77
64
35
35
71
$5, 654
44, 065
105, 698
124, 202
60,138
167, 978
63,106
17, 362
40, 484
43 699
19, 574
38, 760
37, 510
97, 239
56, 506
45, 029
12,699
92,753
37, 008
6,577,004 02
38
72
35
53
42
83
64
48
93
16
60
47
49^
09
70
51
31
48
68
1,109, 473 77
W a r of 1812.
Dependent
relatives.
Agent.
Agency.
Surgeons.
Survivors.
San F r a n c i s c o C a l . . . .
Washington, D. C
Indianapolis, I n d
C h i c a g o , 111
D e s Moines, I o w a
Topeka Kans
Louisville, K y . . . . . . . . .
Augusta, Me
.
Boston, M a s s
Detroit, Mich
Concord,N. H . . . .
Syracuse, N . Y
N e w Y o r k City, N . Y
C o l u m b u s , Ohio
Pittsburgh, Pa..' . •
Philadelphia, P a
Knoxville, Tenn
Do
Milwaukee, W i s
$20, 306
267, 310
299, 660
380, 086
217, 891
186, 686
180, 531
272,127
411, 732
259, 372
281, 585
481,194
330, 700
541, 996
528, 899
374, 643
17, 013
192, 572
253,143
H e n r y Cox . . . . .
Theophilus Gaines .
Fred. Knefler
A d a C. S w e e t
Jacob Rich
N. A. Adams
...
R. M . K e l l y
Selden C o n n o r
D . W . Gooch
Samuel Post
E . L. W h i t f o r d
T. L. Poole
C h a r l e s R. C o s t e r . .
A . T . WJkoff
Russell E r r e t t
H . G. S i c k e l . . . . . . . .
D . T . Boynton
H e n r y R. G i b s o n . .
Edward Ferguson..
Total
39
03
20
15
61
18
49
75
34
79
92
63
21
85
48
48
88
05
31
5, 497, 454 74
$1, 944
12, 986
11,199
10, 958
5, 863
8, 730
9, 361
27, 512
20, 767
12, 382
12, 756
29, 211
14, 920
20, 833
8, 597
6, 578
982
53, 569
9, 779
00
40
45
13
73
40
35
27
72
93
27
46
00
88
07
93
67
86
73
278, 936 25
Widows.
$10, 589
87,163
b8,810
70, 272
34, 519
61, 386
65, 522
117,287
120, 313
•44, 390
63. 057
138, 768
^ 87,156
136, 916
51,158
59, 216
12,157
427, 748
25, 866
08
$4,394 70
75
21,438 71
45
66, 715 76
29
58, 305 90
75
46,145 50
18
53 999 80
42
12, 278 20
75
20, 379 25
31
29, 894 05
41
33,990 70
34
22, 788 60
01
36, 570 53
21, 293 38
30
85 L 85, 667 30
34, 236 89
95
31,372 19
'55
5, 331 00
93
21 691 75
09
68
30,231 70
1, 682, 302 09
636, 725 91
'
Conting e n t ex- F e e s of
penses surgeons.
Continof
gent.
agents.
P a y and allowances.
Agency.
11
Agent.
Voucher
fees.
Salary.
S a n F r a n c i s c o Cal
Wasbington, D.C
Indianapolis, I n d
C h i c a g o 111
D e s Moines, I o w a
Topeka, K a n s . ^
'.
Louisville, K y . .
.
Auo'usta M e .
Boston, M a s s
Detroit, Mich
.
Concord, N . H
Syracuse, N . Y
N e w Y o r k City, N . Y . .
C o l u m b u s , Ohio
Pittsburgh, Pa
Philadelphia, P a
Knoxville, T e n n
Do
Milwaukee. W i s
Theoph. Gaines
Fred. Knefler..,
A d a C. S w e e t . .
Jacob Rich
N. A. A d a m s . . .
R.M. Kelly---.
Selden C o n n o r . .
D . W . Gooch . . .
Samuel P o s t
E . L . Whitford.
T. L. P o o l e
C h a s . R. C o s t e r .
A . T. W i k o f f . . .
RusseU E r r e t t . .
H . G. S i c k e l . . .
D . T . Boynton ..
H e n r y R.Gibson
Ed. F e r g u s o n . . .
Total
.^4 000
4,000
4, 000
4,000
4, 000
4, 000
4, 000
4, 000
4, 000
4, 000
4.000
4, 000
4, 000
4, 000
3, 999
4, 000
488
3,511
4, 000
1
00
00'
00!
00
ool
00,
00;
00:
00!
00,
00
00
00
00
99
00
88
12
00
$737
11,401
12, 530
14,864
9, 49,6
10, 358
3, 562
5, 781
11, 880
7. 382
5, 839
11, 752
8,140
16, 326
8,986
10, 331
21
8, 373
8, 547
40
35'
55
401
35;
25'
80
45
60
95
65
35
65
45
80
70
75
60
60
<feRS9. 4 7
4,844 31
2, 584 92
3,288 99 '$414'52
2, 695 64 487 60
3. 007 70 261 67
1, 025 82 179 40
1 834 71
3, 027 78 " 4 4 6 ' i 7
2, 821 21
2 50
2,717 92 1,103 25
4, 587 38 374 50
8, 250 57 991 78
4, 777 85 ,.352 57
3 840 10 711 20
3,460-23 1, 211 64
178 96
1,849 81 ' " 3 7 i ' 6 6
2, 243 67 249 27
$1, 264
4,453
22, 387
24, 999
24, 653
18, 000
4, 566
7, 006
15, 341
13, 064
7, 999
33,163
8, 073
25, 000
13, 463
12, 580
Total.
00
52
30
80
20
00
75
00
48
50
80
76
00
00
85
52
$435,915 89
3, 469, 278 58
4, 589, 249 74
5, 282, 292 28
3, 708, 401 58
4,221,162 44
1, 489,178 92
1 813 978 12
3, 679, 350 00
2, 820, 010 36
2, 037,189 83
3, 794, 479 51
2, 516, 500„50
5,419,130 04
3,144, 007 43
2, 943, 322 39
143,121 21
10,724*82 2, 667, 325 84
.11,164 02 3,170, 469 11
71, 999 99 166, 315 95 57,920 04 7.1.57 73 247, 966 32 57, 344, 363 TT
U N E X P E N D E D BALANCES I N H A N D S of P E N S I O N AGENTS Jiine 30, 1884..
GO
A r r e a r s of p e n s i o n s .
A r m y pensions.
Agent.
Agency.
P a y and
Surgeons. allowances.
Army.
Washington D C
$318, 362
651, 855
584, 013
698, 582
458, 080
248, 477
109,512
1,110, 083
965, 240
427, 544
793, 259
646, 222
1, 209, 318
697, 019
397, 093
794, 719
434, 945
373, 992
TheophUus Gaines
F r e d . Knefler
A d a C Sweet
Jacob Rich
N A Adams
R M Kellv
.
ChicasTO 111
Topeka, K a n s
Louisville K v
D. W. Gooch
Samuel P o s t
..
E. L. Whitford
T . L. P o o l e
Charles R Coster . . . . .
A. T.Wikoff
Russell E r r e t t
H G Sickel
Detroit Mich
N e w York Citv N Y
Pittsburgh Pa
Philadelnhia P a
Edward Ferguson
Deducting balances due
p e n s i o n a g e n t s J u u e 30,
1884, a s f o l l o w s :
San Francisco Cal
W a s h i n g t o n D. C
Augusta Me
Boston M a s s .
D e t r o i t Micb
:
Concord, N. H
Syracuse, N. Y
C o l u m b u s , Ohio
Pittsburgh, P a
Philadelphia P a
Knoxville, Tenn
Milwaiikee, W i s . . . .
630
1,176
1,764
4, 009
2, 518
10, 868
4, 840
35
4,627
6, 044
$1, 546 48
- 612 70
20
823 46
433 25
934 00
1, 935 50
20
244 06
2, 927 00
$1 72
1, 419 48
1, 806 46
835 98
4,254 11
75, 398 96
.
561 71
7, 798 70
:..
»
Total
$1,380 13
20
95
75
47
30
40
67
22
60
88.
51
.
-
Surgeons,
1883.
16, 918 24
21, 694 10
10,918,322 42
H e n r v Cox
F r e d . Knefler
A d a C Sweet
.
Jacob Rich
N. A. Adams
Selden C o n n o r
D. W Gooch
Samuel Post
E. L. Whitford
T . L Poole
A . T. W i k o f f
Russell E r r e t t
H. G Sickel
H e n r y R. G i b s o n
Edward Ferguson
Chicao-o HI
Des Moines I o w a
$269 67
66
01
52
13
78
73
10
29
08
54
39
49
68
33
44
89
21
15
Contingent
expenses
of a g e n t s .
1
5, 245
3, 051
4,153
1,104
766
1, 616
3,908
2,155
157
4, 449
5, 010
2, 844
3, 072
66
02
39
55
55
16
38
81
57
98
45
81
57
4, 653 20
176 30
2, 341 48
463 85
973 32
2, 724 82
3, 215 42
16, 008 68
40, 752 32
$320, 012 46
653, 401 49
601, 544 46
720, 276 43
458, 080 78
248, 477 93
111, 399 76
1,112,194 04
967, 004 55
433,489 34
795,777.99
657, 091 16
1, 217, 331 68
697, 054 93
401,721 32
802,183 88
436, 751 67
374, 828 13
10, 644 79 11, 008, 622 00
264 00
7, 416 57
231 70
'
172
Total.
1,149 62
10, 447 35
1"
264 00
5, 807 373, 051 02
4,153 39
13,732 75
766 55
1,616 16
6, 249 86
2,155 .81
157 57
4, 449 98
5, 010 45
3, 308 66
4, 045 89
10,141 39
3, 447 12
68, 357 97
10, 940, 264 03
Arrears.
$8, 982
5, 036
6, 634
8, 502
5, 912
1, 468
9, 001
11, 036
22, 586
471
34, 572
24, 327
11, 538
1,757
7, 908
14, 725
9, 340
1, 721
57
82
58
01
15
86
24
48
80
91
20
73
74
08
54
70
66
22
185, 525 29
Voucher
fees.
$14
14
4
11
10
00
50
30.
10
4
7
98
7
20
4
13
5
2
201
^4
5
10
40
90
20
00
90
10
10
4060
60
40
20
428 80
Total.
$8, 996
5, 050
6, 639
8, 513
5,912
1, 478
9, 005
11,044
22, 685
478
34,593
24,331
11,551
1,762
7, 911
14,927
9, 345
1, 726
67
82
08
31
15
96
64
38
00
91
10
83
84
48
14
30
06
42
.O
H
G
H
W
185, 954 09
i25
o
20
20
20
20
185, 953 89
T H I R D AUDITOR.
319
AMOUNT of ''ABBEABS of PENSIONS'' DISBUBSED by P E N S I O N AGENTS.
Agent.
Agency.
San Francisco, Cal
Washington, D. C
Indianapolis, Ind
Chicago, IU-..Des Moines, Iowa
Topeka, Kans
Louisville, Ky
A n fni sta, Al e
Boston Mass
Detroit Mich
Concord, N. HSyracuse, N. Y
New York, N. Y.
Columbus Ohio
Pittsburgh, Pa
PhUadelphia, Pa
EaioxvUle, Tenn
Milwaukee, Wis
.
Henry Cox
Theophilus Gaines
Fred. Knefler
Ada C Sweet
Jacob Rich
N. A. Adams
R. M. KeUy
Selden Connor
. . . . . D. W. Gooch
Samuel P o s t . . '
E. L. Whitford
T. L. Poole
Charles R. Coster
A. T. Wikoff
RusseU Errett
H.G. Sickel....
Henry R. Gibson
Ed ward Ferguson
-
Total
Invalids. ' Widows,
&c.
$213 53
2, 000 80
2, 552 93
6, 222 69
3, 279 66
2, 536 00
311 70
1, 672 93
1, 255 07
' 288 87
1, 395 11
672 27
1, 463 80
3, 908 64
1, 781 66
1, 069 17
3, 965 64
1, 418 49
36, 008 96
Voucher
fees.
$0
2
2
3
2
3
1
$3,417 07
904 40
1, 866 93
3, 518 06
30
40
40
60
10
30
50
60
50
90
80
90
50
80
10
10
70
40
$213 83
5, 420 27
3, 459 73
6, 226 29
3, 281 76
4,406 23
3, 831 26
1, 673 53
1, 256 57
• 786 84
2, 873 44
673 17
2,947 70
6, 227 30
1, 783 76
2, 720' 60
5,165 67
1, 514 70
36 90
54, 462 65
1
497 07
1,476 53
1
1, 482 40
2, 313 86
1
4
2
2
2
2
1, 649 33
1,197 33
93 81
18,416 79
Total.
MISCELLANEOUS WOBK of P E N S I O N D I V I S I O N
Notifications of issue of original pension certificates recorded
Notifications of issue of increase pension certificates recorded
NotificatioDS of issue of restoration pension certificates recorded
Notifications of issue of reissue pension certificates recorded
Transfers noted on roils
Changes noted on rolls
Corrections made on rolls
Pension vouchers examined
Payments entered on rolls
Pages of abstract added
'
'.
Pages of miscellaneous copied
Payments corrected
Surgeons' certificates copied
,
Vouchers withdrawn from the
files
Letters received and registered.
Letters written
Letters copied
Letters indexed
Pension checks verified before payment, involving |1,568.16
^...
\
Average number of clerks employed cluring the year, 55.
50, 962
31, 003
1,536
3,775
1,605
, 2,591
5,457 •
1,154,811
1,129,793
39,176
2,961
1,446
92
6,399
9,281 •
9,447
3, 601
8, 832
45
320
R E P O R T ON T H E
THE COLLECTION
•
6
FINANCES.
DIVISION.
00
.2
^
•o.g •
a
is
faJD
o
zn
<
fl o
pq'"
a^
^
1
<D
>A
p
\^
.
H
f.4 OQ
gi
0*=^
•
H
Q
t
1883.
July
August
•
September
October
November
December
ft
2
g
1
4)
f-l
c3
1
1
'd
P^ fl
«M
nr. <^
^3
1
§
^
'OrO
rt'd
O OJ
2
1 508
908
643
585
774
843
391
290
235
255
351
306
8,716
6,910
6,121
5,445
7,093
7,195
123
64
67
132
159
98
394
298
262
272
347
298
7,853
8,718
8,861
6. 624
9,496
6,289
50
32
50
27
43^
24
930
1,231
1,001
924
839
928
359
403
301
276
255
391
7,105
7, 273
5,626
5,941
5,376
8,362
130
107
97
127
109
115
441
424
338
335
353
421
9,395
8,717
10,164
8,323
9,553
9,672
11,114
3,813
81,163
1,328
4,183
103, 665
1
2
1
11
9
9
5
52
48
52
52
47^
49J
1
2
3
2
2
9
11
11
9
11
1
527^
14
86
1884.
January
February
March
April ..
May
Jnne
-
....
Total
QUARTERMASTER ACCOUNTS,
In the foregoing statement of the Quartermaster Division, it will be
seen that the amount involved in the settlements made during the year
is $16,203,247.27, being $6,654,258.38 greater than during the year 1883.
The total number of settlements in this division in 1883 was 8,875; in
1884, 10,246.
A vigorous effort has been made to close, as iar as practicable, accounts where settlements have been made and balances found due the
United States, as the records and files bore abundant evidence that a
very large number of accounts of officers who were no longer in the
inilitary service remained open. I t was determined, therefore, that the
proper course to pursue, in such cases, would be to report them to the
Second Oomptroller, so that, if deemed to the best interest of the Government, actions could be brought to recover the amounts due the United
States, and, with that end in view, 384 such cases, with balances aggre-.
gating $1,240,692.05 due the United States, were reported to the Collection Division, in order that the necessary papers might be prepared
and transmitted to the Second Comptroller for the purpose indicated
above. The probability whether collections could be made of the
respective balances reported was not considered for the reason tnat,
under existing laws, the accounting officers are not vested with equity
jurisdiction, and can only give credits upon satisfactory receipts for
proper expenditures, and in the absence of such receipts or other evidences of the proper expenditure of the public funds for the benefit of
the public service, it remained the duty of the accounting officers to
make an effort to collect the balances in question.
The cases above referred to are almost wholly those of accounts of
volunteer officers, rendered during the rebellion.
In c
@FedFRASER