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ANNUAL REPORT OF THE SECRETARY OF .THE TREASURY ON THE STATE OF THE FINANCES FOE T H E Y E A . R 1888« ^ WASHINGTON: GOVERNMENT PRINTING OFFICE. 1888. H. E x ; 2 1 CO 001SrTEN"TS. Page. R E C E I P T S AND E X P E N D I T U K E S •. xxi SINKING F U N D — xxiv SURPLUS R E V E N U E ™ P U R C H A S E O F BONDS - -. - R E D U C T I O N O F TAXATION - xxyii CURRENCY CIRCULATION xxviii S I L V E R COINAGE xxix C O I N CERTIFICATES ., - P U B L I C MONEYS xxx -. xxx CUSTOMS ADMINISTRATION xxxi-xxxiii Incongruities of -the Tariff Schedules Condition and Needs of t h e Service Consolidation of Districts Fixed Salaries for Collectors and Surveyors Conference of Local Appraisers - -. xxxii xxxii xxxiii - xxxiii xxxiii » „ F O R E I G N COMMERCE xxxiii-xxxviii Merchandise " Specie Exports Imports Imports Entered for Consumption xxxiii xxxiv xxxiv XXXV xxxvi F O R E I G N CARRYING T R A D E xxxviii IMMIGRATION NAVIGATION xxv xxvi ' '. xxxix , XLI INTERNAL R E V E N U E XLII A NON-PARTISAN C I V I L S E R V I C E xnv REVENUE-MARINE SERVICE XLV LIFE-SAVING SERVICE XLVI MARINE-HOSPITAL SERVICE . . . „ ^ XLVII STEAMBOAT-INSPECTION S E R V I C E XLIX L I G H T - H O U S E .SERVICE LII COAST AND GEODETIC S U R V E Y . . . LIII E N G R A V I N G AND P R I N T I N G LVI P U B L I C BUILDINGS LVU' HALL O F RECORDS LVIU D I S T R I C T O F COLUMBIA , R E P O R T S O F H E A D S O F O F F I C E S , ETC LIX ' LIX Tables Accompanying the Report, TABLE A.—Statement of the oustanding principal of the public debt J u n e 30,1888 TABLE B.—Statement of the outstanding principal of the public debt each year from 1791 to 1888 ^^Y III LXiii LXXI IV CONTENTS. Page. TABLE C.—Analysis of the principal of the public debt from J u l y . l , 1856, to J u l y 1, 1888 LXXII TABLE D.—Statement of the issue and redemption of loans and Treasury notes during the fiscal year 1888 LXXiv TABLE E.—Statement showing the purchase of bonds on account of the sinking fund during the fiscalyear 1888 -. LXXV TABLE F.—Sinking fund account fcr the fiscal year 1888.. JILXXXI TABLE G.—Statement of 30-year 6 i^er cent, bonds issued to the several Pa' cific railway companies Lxxxii TABLE H.—Statement showing the changes in the interest-bearing debt during the year ended October 31, 1888 LXXXiii TABLE I.—Statement showing the amount of gold and silver coin and bull' ion; gold, silver, and currency certificates; United States' notes, and national and State bank notes in th^ United States and distribution thereof each year, from June 30, 1860, to J u n e 30, 1 8 8 8 . . , . . : Lxxxv Diagram, showing the amount of national-bank notes in circulation, gold, , silver, and United States notes in the Treasury, with the corresponding liability in outstanding gold, silver, and currency certificates, with the reduction o f t h e public debt .Lxxxvi TABLE J.—Statement of the standard silver dollars, silver bullion, and subsidiary silver coin in the Treasury at the end of each mpnth from December 31, 1877, to October 31, 1888 Lxxxvii TABLE K.—Statement of the annual appropriations made by Congress for each fiscal year from 1879 to 1889 Lxxxix TABLE L.—Statement of the net receii^ts during the year xc TABLE M.—Statement of the net disbursements dui?ing the year xci TABLE>N.—Statement of the net receipts and disbursements for the quarter ending September 30, 1888 xciii TABLE 0.—Statement of the receipts of the United States from March 4,1789, , to J u n e 30, 1888..: i xciv TABLE P.—Statement of the expenditures of the United States from March 4, 17^9, to J u n e 30, 1888 -. xcviii TABLE Q.—Statement of receipts aud disbursements by United States assistant J treasurers during the year cii TABLE R.—Statement showing the value of imported merchandise entered for consumption in the United States, with the amount of ordinary duty collected thereon, during the fiscal year 1888 CVii TABLE S.—Statement showing the receipts from taxes from various sources during thefiscal year 1888.... cxxi TABLE T.—Statement showing the present liabilities of the United States to Indian tribes under treaty stipulations cxxiv TABLE U.—Statement of redeemed United States securities received, by the Oflice of the Secretary of the Treasury for final count, examination, and destruction, during the fiscal year cxxix TABLE y.—Statement of distinctive paper, silk-threaded fiber, issued from ,^ the Office of the Secretary of the Treasuiy to the Bureau of Engraving and Printing, and deliveries and balancesof t h e same, for national-bank currency, series 1882, for t h e fiscal year r888 cxxx TABLE W.—Statement of United Statfes bonds and other obligations received and issued by the- Ofiice of the Secretary of the Treasury, from November 1, 1885, to October 31, 1888 cxxxi CONTENTS. V APPENDIX TO THE REPORT. REPORTS OF HEADS OF BUREAUS AND SUPERVISING SPECIAL AGENT. Index to Contents of Appendix.—Keports: Treasurer, v ; Director of Mint, viii; Commissioner of Intei Dai Revenue, XI; Comptroller of Currency, xii; Chief of Bureau , of Engraving and Printingr, XIV; First Comptroller, xiv; Second Comptroller, XIV; Commissioner of Castoms, XV; First Auditor, x v ; Second Auditor, x v ; Third , Auditor, XVI; Fourth Auditor. XVII; Fifth Auditor, xvi; Sixth Auditor, xvil; Register, xvii; Supervising Special Agent, X)X. ^ R E P O R T OF T H E TREASURER PagG. 3-89 .. Receipts and expenditures,-, The state of the Treasury Unavailable funds The public debt • Coin and paper circulation United States notes ^ Certificates of deposit, act of June 8, 1872 Gold certificates .' Silver certificates ^ Standard silver dollars. , Fractional silver coin Minor coin Recoinage of uncurrent coins Mutilated, stolen, and counterfeit currency , Fractional currency • Postal revenues Speaker's certificates Receipts from customs at New York Clearing-house transactions Geneva award National banks ..... = -... Semi-annual duty Indian trust funds MisceUaneous trusts , Pacific railroad, sinking funds. District of Cdlumbia trust funds • Captured and abandoned property Redemption of national-bank notes Fiscal year ending Jnne 30, 1889 Work of the office 1 3 4 5 1 5 „... 6 , 7 8 8 ... 9 10. 12 13 . 13 ...14 15 16 16 :.. 16 '^ 17 18 18 20 .-.. 20 21*.. 21 22 i... 22 22 25 25 Table No. 1. Receipts and expenditures for the fiscal year 1888, as shown by warrants issued ..*. Table No. 2. Comparative statement of balances in the Treasury at the close ofthe fiscal Vears 1887 and 1888 .' Table No. 3. Explanatory statement of the dift'erences between the balance in the Treasury J u n e 30, 1888,'as shown b y t h e precediugNStatements and the books of the Register, and • the cash as shown by the public-debt statement published J u n e 30, 1888... Table No. 4. Total amount of the classified receipts and disbursements on account of transfers, revenues, redemption, and exchanges, by Treasury offices, for the fiscal year ending J u n e 30. 1888....... 27 ' 28 28 29 VI CONTENTS. V R E P O R T OF THE TREASURER—Continued. 0 Page. , Table No. JJ 5. Receipts and expenditures on • account of the Post-Office Department for the fiscal year 1888, as shown by warrants paid ii .Table' No. 6. Semi-annual duty assessed upon and collected from national banks by the Treasurer of the United States for t h e fiscal ' yea.rs from 1864 to 1888, inclusive..'.. Table No, 7. Balances standing to the^ credit of disbursing officers and agents of the United s/ates, J u n e 30, 1888 Table No. 8. Assets and liabilities of the Treasury of the United States, J u n e 3 0 , 1887., : Table No. 9. Assets and. liabilities of the Treasury of the iJnited States, J u n e 3 0 , 1888 Table No. 10. Assets and liabilities of,the Treasury of the United States, September 30, 1888 Table No. 11. Unavailable funds of the general Treasury and of the PostOffice Department Table No. 12. Assets and liabilities of t h e several offices of the Treasury, J u n e 3 0 , 1888 , Table No. 13. Composition and distribution of the bullion fund, by offices, J u n e 30,1888 Table No. 14. Character and distribution of the assets and liabilities of the Treasury and reconciliation of the balance with the books o f t h e Register of the Treasury, J u n e 30, 1888.-— Table No. 15. Statement, by loaiis, of United States bonds held in t r u s t for national banks, J u n e 30, 1888, and of changes during the fiscal year 1888 in the character of bonds h e l d . . Table No. 16. Dates when each issue of United States currency began and ceased Table No. 17. United States currency of each issue and denomination issued, redeemed, and outstanding at the close of the fiscal yearl888 Table No. 18. Redemption of United States currency for t h e fiscal year' ^^ 1888, total redemptions to J u n e 30, 1888, and deductions on account of m u t i l a t i o n s . . . . Table No. 19. ^Issues and redemptions of United States notes by denominations and by fiscal years Table No. 20. United States notes outstanding and redeemed and percentage of redemptions from the first year after t h e issue ceased Table No. 21, United States currency of each issue outstanding at the close of each fiscal year from 1862 to 1888 Table No. 22. Silver certificate sissued, redeemed, and outstanding, by series anci denominations Table No. 23. Gold certificates issued, redeemed, and outstanding, by series and denominations ;-Table No. 24. United States currency issued, redeemed, and outstanding, by denominations, at the close of the fiscal year 1888... Table No. 25. Amount and percentage of total outstanding of each denomination of United States notes, gold certificates,'act of J u l y 12, 1882, and silver certificates, at t h e close of each fiscal year from 1878 to 1888, including $1,000,000 of unknown denominations of United States notes destroyed. Table No. 26. Seven-thirty notes issued, redeemed, and outstanding Table No. 27. Coupons from United States bonds and interest notes, paid . during the fiscal year 1888, classified by loans .-, 30 30 30 31 32 33 34 35 35 36 37 37 38 41 41 47 55 56 56 57 58 61 61 CONTENTS. ^ ' SIEPORT OF T H E TREASURER—Continued. vn PagGi ^ > Table No. 28. Number and amount of checks issued for interest on registered bonds of t h e United States during the fiscal year" 1888... • 61 Table No. 29. Interest on 3.65 per cent, bonds of t h e District of Columbia paid during the fiscal year 1888 61 Table No. 30. Refunding certificates issued under t h e act of February 26, 1879, converted into bonds of the funded loan of 1907.. 61 Table No. 31. Total amount of United States bonds retired for t h e sinking fund from May, 1869, to J u n e 30, 1888 62 Table No, 32. Total amount of United States bonds retired from May, 1869, to JuneSO, 1888 63 T a b l e No, 33. Bonds of t h e loans given in statement,No. 32 retired prior t o M a y , 1869 [ 64 Table No. 34. Called bonds redeemed and outstanding J u n e 30, 1888 65 Table No. 35. Changes during the fiscal year 1888 in the principal of the interest-bearing debt and debt on which interest bas ceased „ 68 Table No. 36. Recapitulation of t h e publ,ic-debt statement for the close of each fiscal year from J u n e 30, 1880, to J u n e 30, 1888, in ' the form used since J u l y 1, 1885 69 Table No. 37. Balanced statement of receipts and deliveries of moneys by t h e national bank redemption agency for the fiscal year . . 1888 71 Table No. 38. Balanced statement of receipts and deliveries of moneys by t h e national bank redemption agency, from J u l y 1, 1874, to J u n e 30, 1888 1 71 Table No. 39. National-bank notes received for redemption during each month of the fiscal year 1888 from the principal cities and other places 72 Table No. 40. Result of t h e count of national-bank notes received for redemption, by fiscal years, to J u n e 30, 1888 72 Table No. 41. Mode of payment for notes redeemed by t h e national-bank redemption agency, by fiscal years, to J u n e 30, 1888 73 Table No. 42. Disposition made of t h e notes redeemed by t h e nationalbank redemption agency, by fiscal years, to J u n e 30, 1888 7a Table No. 43. Deposits, redemptions, assessments for expenses, and trans-; fers and repayments on account of the 5 per cent, redemption fund of national banks, by fiscal years, to J u n e 30, 1888, and balance of t h e deposits at t h e close of each year 74 Table No. 44. Deposits, redemptions, and transfers and repayments on account of national banks t h a t have failed, by fiscal years, to J u n e 30, 1888, and balance of the deposits at the close ofeacbyear ,.„... 74 Table No, 45. Deposits, redemptions, and transfers and repayments on account of national banks in liquidation, by fiscal years, to J u n e 30, 1888, and balance of t h e deposits at the close ofeacbyear ,.; .....„„... 7S Table No. 46. Deposits, redemptions, and transfers and repayments on account of national banks reducing circulation, by fiscal years, to J u n e 30, 1888, and balance of t h e deposits at t b e close of each year 75 VIII • , CONTENTS 1 ' ' PagSi, B E P O R T OF T H E TREASURER—Continued, Table No. 47. Aggregate deposits, redemptions, and transfers and, repayments on account of national banks failed, in liquidation, and reducing circulation, by fiscal years, to J u n e 30, 1888, and balance of the deposits at the close of each year 76 Table No. 48. Packages of nationalrbank notes delivered during the fiscal yearl888 76 Table No. 49. Expenses incurred i n t h e redemption of national-bank notes • during the fiscal year 1888 76 Table No. 50. Monthly receipts from customs at New York from April, 1887, to September, 1888, and percentage of each kind of money received.. 77 Table No. 51. Shipments of silver coin from Treasury offices and mints from J u l y 1,1885, to J u n e 30,1888, inclusive, as per their reports to this office 79 Table No. 52. Shipments of silver coin since J u n e 30, 1885, from Treasury : ,. . . . offices and mints, t h e charges thereon for transportation, and the average cost per $1,000..., 80 Table No. 53. United States notes in the Treasury, and certificates of deposit, act of J u n e 8, 1872, in the Treasury and in circulation, at the end of each month, from March, 1878, to Sei)tember, 1888 81 • Table No. 54. Amount of gold coin and bullion in the Treasury and of gold certificates outstanding at the e n d o f each month from March, 1878, to September, 1888 8a Table No. 55. Amount of standard silver dollars coined, in the Treasury, and in circulation, and of silver certificates outstanding, at t h e end of each month, from March, 1878, to Septem. '. ber, 1888 ' 85 Table No. 56.. Coinage, movement, and expense of movement of standard silver dollars, by quarters, to J u n e 30, 1888 87* Table No. 57. Amount of fractional silver coin in the Treasury at the end of each month from May, 1879, to Septeinber, 1 8 8 8 . . . . . . 8& Table No. 58. Changes during the fiscal year 1888 in the force employed -, in the Treasurer's office 88' Table No..59. Appropriations made for and salaries paid to the force employed in the Treasurer's office during the fiscal year ' 1888 ...._....' 89Table No. 60. Number oi drafts issued on warrants during t h e fiscal year 1888 . . . • - . - . . . • m Table No. 61. Letters, telegrams, and money packages received a n a transmitted during the fiscal year 1888 89 E E P O R T OF T H E DIRECTOR OF THE M I N T Deposits and purchase of gold and silver * ' Coinage Manufacture of gold and silver bars Medals and dies manufactured Exchange of gold bars for gold coin Refining by acids , Silver purchases Price of silver Circulatiori of silver dollars ...^ Distribution of silver dollars , Subsidiary silver coinage. 90-285 90 92^^ '93 94 94 95 96 ' 97 *^99 ,.. 99 ... 100' CONTENTS. IX Page. , R E P O R T OF T H E DIRECTOR OF THE MINT—Contiiiued. Trade-dollar recoinage .^ Seigniorage on silver coinage Minor coinage Appropriations and expenditures Earnings and expenses of refineries of mints and assay office at New York. Earnings and exjjenditures of mints and assay offices 1 Classified statement of expenditures, 1888 Summary of operations at mints and assay offices Annual trial of coins i .i Values of foreign coins Regulations governing the transaction of business Imports and exports of gold and silver Production of gold and silver in the United States. Industrial employment of gold and silver in the United States Stock of coin in the United States ' Proposed legislation: . New designs of United States c o i n . . . . Deliveries of coin within the calendar year of date Operative wastage of bullion Redemption of mutilated silvercoin Proposed discontinuance of three-cent nickel coinage: Proposed discontinuance of three-doilar gold coinage Proposed discontinuance of coinage of three-dollar and one-dollar gold pieces, and limitation of coinage of the double eagle Proposed amendment of laws ,. Bill for t h e . relief of James C. Booth, deceased, late melter and , refiner, United States mint at Philadelphia Technical operations of mints World's annual production of gold and silver World's coinage ; ' Monetary statistics of foreign countries -. . : Conclusion 102: lOa 104 • 106 109 110 110 ' 112 134 135 142° 143 144 146 • 150 153 160 160 161 162 162 16a 165 166 168 l74 . 175 • 176 197 Ap;pen(Lix. Table No. 1.—Deposits and purchases of gold and silver, by weight 198 Table No. 2.—Deposits and purchases of gold and silver, by value 200 Table No. 3.—Deposits of unrefined gold of domestic production, with the States and Territories producing the same, and of refined domestic bullion not distributed1. 202 Table No. 4.—Deposits of unrefined gold of domestic production, with the States and Territories producing the same, and of refined domestic bullion not distributed 204 Table No. 5.—Deposits of unrefined silver of domestic i)roduction, with the States and Territories producing the same, and of refined domestic bullion not distributed 206 Table.No. 6.—Deposits of unrefined silver of domestic production, with . the States and Territories producing the same, and of . ^ refined domestic bullion not distributed 208 Table No. 7.—Bars manufactured of gold and silver, by weight ^210 Table No. 8.—Bars manufactured of gold and silver, by value ,. 210 , Table No. 9.—Coinage executed in the mints during the fiscal year . - . ^ . 212 Table No, 10.—Coinage executed at the mints during the calendar y e a r . . . 212 Table No. 11.—Earnings and expenditures of the mints and assay offices.. 214 X CONTENTS. Page. R E P O R T O F T H E D I R E C T O R O F T H E MINT—Continued. Table No. 12.—Seignorage on coinage of silver a t t h e mints, and disposiN ! tion of same , Table No. 13.—Assets and liabilities of mints and assay offices Table No. 14.—Medals manufactured at the mint at Philadelphia Table No. 15.—Medals and proof coin sold Table No. 16.—Coinage dies executed at the mint a t Philadelphia Table No. 17.—Expenditures from silver profit fund on account of transportation of silver c o i n . . . Table No. 18.—Expenditures for distribution of minor coins Table No. 19.—Wastage and loss of sweeps Table No. 20.—Quantity and cost of silver bullion delivered on purchases a t coinage mints, and number of silver dollars coined.. Table No. 21.—Silver bullion purchases ' rTable No. 22.—Quantity and cost of silver used in t h e coinage of silver ' dollars, and wasted and sold in sweeps, a t each mint Table No. 23.—Quantity and cost of silver used in t h e coinage of silver dollars, and wasted and sold in sweeps., Table No. 24.—^Cost of t h e silver bullion contracted for and delivered, w^ith the valne and cost of the coinage of silver dollars. Table No. 25.—Purchase and coinage into silver dollars of $2,000,000 / worth of silver bullion Table No. 26.—Highest, lowest, and average of a United States silver dollar, measured by the market price of silver, and t h e quantity of silver purchasable with a dollar a t t h e average London price of silver, each year since 1873 Table No. 27.—Degrees of fineness of coinage of calendar year 1887, in percentages of whole number of coins assayed by assay commission ^... Table No. 28.—Comparison ofthe business of the mints and assay offices. Table No. 29.—Imports and exports of gold and silver coin and bullion.. Table No. 30.—Values of gold and silver ores imported and exported Table No. 31.—Manifested imports and exports of gold and silver a t San Francisco Table No. 32.—imports of gold and silver coin and bullion a t New Orleans Table No. 33.—Imports of gold and silver coin and bullion a t El Paso, . ,. ^ Tex , Table No. 34.—Unrefined gold and silver of domestic production, and its distribution by States and Territories; also refined domestic bullion (not distributed) deposited a t the mints c and assay offices from their organization to the close of the last fiscal year Table No. 35.—Recoinage of trade-dollars redeemed under act of March 3, 1887 Table No, 36.—Coinage a t t h e mints from their organization, by calendar years, and by denomination of pieces Table No. 37.—Production of gold and silver in the United States, from the organization of the Mint, in 1792 to 1844, and annually since Table No. 38.—Ratio of silver to gold, each year, since 1687 .Table No. 39.—Coinage of nations—calendar years, except for Mexico and Brazil and for India in 1884 Table No. 40.—The world's production of gold and silver 216 218 220 221 221 222 223 223 224 225 , 226 228 230 23i 232 233 236 241 248 249 250 250 251 252 256 ^ 280 281 282 284 CONTENTS. / E E P O R T O F THE COMMISSIONER OF INTERNAL R E V E N U E XI Page. ..286-422 Tables 286 Estimated collections for current fiscal year 287, Aggregate recei pts for each of last seven fiscal years 287 Receipts by sources for last two fiscal years 287 AVithdrawals for consumption during last t w o fiscal years 289 Aggregate receipts by States and Territories during fiscal year 1888... 289 Receipts by sources for first three months of current fiscal year • 290, Cost of collection 291 •General condition of the service v 291 Miscellaneous expeuses..-. 291 Work and expenses.of revenue agents 292 Illicit stills seized, persons arrested, and casualties to officers and employes. 292 Ordnance stores 293 Expenditures for discovery and punishment of violations of law 293 Destruction of the personal property of officers and employes 294 ' 'Offers in compromise . . . 295 Abstract of seizures 296 Abstract or reports of district attorneys ,. ' 297 Fistimated expenses for fiscal year 1890 297 Scale of salaries of collectors , .298 Official force. 298 Store-keepers, gaugers, stove-keepers and gaugers, and distillery surveyors. 299 Condition of the office ., 299 Salaries 299 Number, kind, and value of stamps issued during fiscal year 1888 300 I liedemption of check stamp's 300 Manufacture of stamp paper 301 Production of stamps 301 Official count of stamps in vault 301 Collections from tobacco 302 Production of tobacco, snuff, cigars and, cigarettes 303 The tabular statements 304 Direct t a x 307 Abatement, rebate, andrefunding claims 307 Distilleries registered and operated 311 Fruit distilleries registered and operated -. 312 Grain and molasses distilleries in operation September 1, 1880 to 1888. 313 Comparative statement of distilleries registered and operated ; 313 •Comparative statement of materials used and spirits produced during the last ten fiscal years 314 Fruit brandy, distillation, etc., of 314 Assessments . . : 316 Decreased production of spirits 318 Increased tax-paid withdrawals of spirits i 318 Distilled spirits allowed for loss by leakage or evaporation in warehouse.. 319 Spirits removed in bond for export .' -. 320 Increased withdrawals of spirits for scientific purposes and use of t h e UnitedStates 321 Transfers of spirits from distillery warehouses to manufacturing warehouses 321 Methylated si)irits 322 Report of the microscopist on methylated spirits 322 Spirits lost by casualty in warehouse 330 ^Spirits lost by fire in w^arehouses.during t h e last sixteen years 331 XII " CONTENTS. ' • Page. R E P O R T OF T H E COMMISSIONER O F I N T E R N A L R E V E N U E — C o n t i n u e d . Different kinds of spirits in warehouse...". 332 Different kinds of spirits deposited in, withdrawn from, and remaining in warehouse for fiscal years 1887 and 1888 ,. 334 Summary of operations at distillery warehouses during fiscal year 1888 335 Stock on hand, production, and movement of spirits for last five years 335 Spirits remaining in warehouse at close of each of last twenty years 336 Spirits iu distillery warehouses October 1 for each of last five years ... 337 Spirits withdrawn for export during first quarter of current fiscal year 33& Comparative statement of spirits withdrawn for export with previous years , 338 Operations at special bonded warehouses for storage of grape brandy 339 Distilled spirits in the United States October 1, 1888 .341 Exportation of manufactured tobacco and snuff in bond 341 Exportatibn of cigars and cigarettes in bond 342 Drawback allowed on exported merchandise 342 Oleomargarine 343 Summary of operations at oleomargarine manufactories during t h e y e a r . . . 346 Operations in oleomargarine from November 1, 1886, to J u n e 30, 1888 . 346 Oleomargarine in the Uni ted States .June 30, 1S88 348Receipts under the oleomargarine law during fiscal year 1888 34^ Number of manufacturers of and dealers in oleomargarine ^ 349 Number of retail dealers in oleomargarine April, 1887 and 1888 350 Location of manufacturers of and wholesale dealers in oleomargarine April, 1^^88 350 Production and use of oleo oil during fiscal year 1 8 8 8 . . . . 351 Report of tbe analytical chemist on oleomargarine 352; Report o f t h e microscopist on oleomargarine 354 Adulteration of food and drugs , 384 Report of the microscopist on adulterations of foods...•... . . - - . . 384 , Foreign laws, decrees, and regulations on the repression of adulterations of food and drink 388State laws on the adulteration of fo ,d and drugs, dairy products, and butter substitutes iu the United States 408 Bibliography and literature of food and drugs and their adulterations 410 R E P O R T OF THE COMPTROLLER OF T H E C U R R E N C Y "423-520 Report submitted to Congress 423 .Requirements of section 333, Revised Statutes of the United States, in detail, as to Comptroller's report 423 Summary o f t h e state and condition of every national bank reporting during the year • 424 Statement of national bauks closed during t h e year 425 Suggestions as to amendments to the laws by which the system may be improved, and effect of laws regulating interstate commerce 426 , State banks, savings-banks, private banks, and loan and t r u s t companies. 438 Resources, liabilities, and condition thereof 440Names and compensation of officers and clerks in t h e office of t h e Comptroller of t h e Currency .,' • 447 Organization and expenses o f t h e office i. 447 Organization of national banks ' 448 Number, capital, bonds, and circulation of banks existing October 31,. 1887, and of those organized during the year 449 Increase or decrease 450 , National-bank depositaries 453. Amount of bonds transferred from security for national-bank circulation tosecurity for public deposits 454 CONTENTS. . R E P O R T OF THE COMPTROLLER OF T H E ' XIII CURRENCY—Continued. Bond purchases by t h e Treasury Prices of United States registered bonds during the year Comparative investment value of bonds Increase and reduction of capital by national banks ^Converted and original banks • , National banks of primary organization, number in voluntary liquidation and number insolvent Extension of corporate existence of national b a n k s . . . . ..A. Distribniion of national-bank stock Dissolution of national b a n k s , Failed during the year ' Causes of failure Dividends paid to creditors of insolvent national bauks during the y e a r . . Number, capital, and liabilities of national banks organized and failed \, since establishment of system Amount paid to creditors of insolvent national banks ; Amounts collected from assessments on share-holders [Inactive receiverships.. Circulating notes Minimum of bonds required by going banks , Maximum-circulation Bonds deposited and minimum required and percentage of excess deposited by banks organized since July 1, 1882 :...... Interest-bearing funded debt of the United States and amount held by nationalbanks United States bonds of all classes held by the banks Comparison of amounts for seven years , Decrease in national-bank cir(iulation Number and capital of national banks by geographical divisions, bonds deposited, minimum, excess, and percentages Changes in capital and circulation during past year Banks without circulation Issues and redemptions during the year Additional circulation on bonds Issues of national-bank notes -.. Proces.<j of redemption of national-bank notes '. , Five per cent, redemption fund . •. Receipts and deliveries by national-bank redemption agency Amount and mode of payment of national bank-notes redeemed Redemption of circulation of insolvent national banks Lawful money deposited National-bank notes received for redemption by the Treasurer of the United States to date and amounts received during the year , National-bank notes received monthly for redemption by the Comptroller of the Currency Amount destroyed yearly since establishment of the system . Supervision of national b a n t s Violations of law _• : Loans upon security of real estate, Investment in bonds, stocks, and other securities Deficient reserve Excessive and unlawful dividends Improper reduction of surplus .' ..." Reports of national banks 455 457 458 458 460 461 463 465 470 ' 470 471 475 476 476 476 478 478 479 479 479 480 481 481 482 483 484 484 484 485 486 '486 486 487 489 490 491 491 492 492 493 493 493 494 494 494 495 495 XIV , CONTENTS. Page, R E P O R T O F T H E ' C O M P T R O L L E R O F T H E CURRENCY—Continued. ' Compendium of capital, surplus, undivided profits, circulation, bonds, deposits, loans and discounts, specie, etc., 1866-1888 Classification of loans i n reserve cities C. In New York City for five years .1 Amount of reserve and ratio of deposits. New York City, Chicago, Saint Loiiis, reserve cities, and States and Territories. Clearing-house transactions l . Kinds of money and amount used in settlement of balances New York Clearing-House transactions for thirty-five years Clearing-house transactions o f t h e assistant treasurer of the United States in New York Comparative statements of clearing-houses in t h e United States Increase and decrease in exchange and balances of the clearing-houses of t h e U n i t e d State Movement of reserve, weekly, in New York City Duties, assessments, and redemption charges Legal decisions construing statutes relating to national Banks Conclusion... R E P O R T O F C H I E F O F T H E BUREAU O F E N G R A V I N G AND P R I N T I N G Work accomplished Expenditures Appropriati ons and estimates Force employed 496 497 498 499 500 501 501 502' 502: 50a 506 506 507 518 ...521-535 : 521 .-. 522^ 524 525 .^. Appendix. Table No. 1.-^Statement showing t h e United States notes-, certificates of deposit, bonds, and national-bank notes delivered during the year • Table No. 2.—Statement showing t h e internal-revenue stamps delivered during the year Table No. 3.—Statement showing t h e customs stamps delivered during theyear 1 Table No. 4.—Statement showing t h e checks, drafts, certificates, etc., delivered during t h e y e a r . Table No,. 5.—Summary of all classes of work delivered Table No. 6.—Schedule of miscellaneous work done for, and of material , furnished to, t h e various bureaus, etc Table No. 7—Statement of the various classes of securities and other work proposed to be executed in the fiscal year 1890 Table No. 8.—Statement showing t h e annual production of securities in sheets, and the expenditures for the last eleven years Table No. 9 . - S t a t e m e n t showing the number of employes on the first day of each month since J u l y 1, 1877 R E P O R T OF T H E F I R S T COMPTROLLER Accounts, claims, etc., settled Clerks employed and distribution of work 527 530 531 532 53a 534 535 535 536-542 Warrants received, examined, etc Requisitions Miscellaneous work Compensation of commissioners of circuit, district attornej^s, marshals, and clerks Statutes of limitations as to claims for and against t h e Government R E P O R T O F T H E SECOND COMPTROLLER 526 • 536 540 540 540 541 543-549 54a 543. CONTENTS. XV R E P O R T O F T H E SECOND COMPTROLLER—Continued. Army back-pay and bounty division Army paymasters'division Ariny pension division Quartermasters' division Navy division Indian division Miscellaneous division Requisitions.... Suits brought Office library ^ Public property Reduction of clerks Changes in the raethods of business Examination of contracts Book-keeping Concentration o f t h e accounting offices Suits brought by the Government Statute of limitations Office appropriations . : .., ..'..., , -. ...^ J , ^--. R E P O R T O F T H E COMMISSIONER O F CUSTOMS Work o f t h e office.^ Ambunt received into the Treasury Amount paid out of the Treasury Conduct ofthe business of the office Back pay of inspectors of c u s t o m s . . . A fixed salary for customs officers Slight increase of clerical compensation recommended Statements appended 550-556 550 551 551 551 552 55a 553 55a ...' Apipendix. Table A.—Statement of warehouse transactions at the several districts and ports during the year Table B.—Statement of duties collected on unclaimed goods entered, and amount of net proceeds of unclaimed goods sold during t h e year ' R E P O R T OF T H E F I R S T AUDITOR 544 544 544 544 545 545 545 546 546 547 547 547 547 548 548 548 549 549 549 554 / 556 557-571 Work of the office : ^ Accounts adj usted 557 Customs division , 567 Judiciary division . . 567 Public-debt division - 567 Miscellaneous division , 568 Warehouse and bond division ; 568 Comparative statement, by fiscal years, of transactions from 1861 to. . 1888 569 Fees of United States attorneys, marshals, and clerks 571 R E P O R T O F T H E SECOND AUDITOR Work of the office: Book-keiepers' division Paymasters' division ..-. Ordnance, medical, and miscellaneous divisions Indian division Pay and bounty division., Division for the investigation of frauds 572-584 57^ 574 575 576 577 578 XVI ' CONTENTS. , Page. J I E P O R T O F T H E SECOND AUDITOR—Continued. Work of the office—Continued. ,Property,division . . . ' Division of inquiries and replies Maildivision » Archives division Condition ofpublic business. Claims for arrears of pay and bounty Special reports >. Claims of Indian soldiers < Re-arrangement of the office Bounty'under t h e act of April 2.2, 1872 Recent legislation and decisions . ^ . , JiiEPORT O F T H E T H I R D AUDITOR Work of the office : Book-keeper's division Horse claims division Miscellaneous division Military d i v i s i o n . . . . Collection division Claims division Pension division State war, claims 585-605 586 593 593 594 595 595 ,596 605, , : : .' , . R E P O R T O F T H E F O U R T H AUDITOR ..606-619 Balances and liabilities under pay of the Navy and Marine Corps Overpayments under other appropriations Appropriations and expenditures ofthe Navy Exchange ,., Special .fiscal agent a t London Work of t h e office: ^ General claims division Paymasters' division :, Prize money, record, and files division Navy pay division Property returns -REPORT O F T H E F I F T H AUDITOR . >, 620-650 620 624 625 Appendix, Table A.—Statement of expenses of the diplomatic service during the y e a r . . Table B.—Statement of consular fees, salaries, and expenses during t h e year Table C.—Statement of consular fees, compensation, exi>enses, and loss by exchange, during the year Table D.—Names of consular clerks, with their salaries and expenses, during t h e year Table E.—Statement of sundry expenses a t consulates in China, J a p a n , Siam, Turkey, and Zanzibar, during t h e year Table F.—Statement of relief afforded seamen, with extra wages and arrears, during t h e year Table G.—Statement showing t h e number of seamen sent to t h e United States, and t h e amount paid a t t h e Treasury for passage, during the year 606 606 608 616 616 616 617 618 618 619 Work of t h e office: Diplomatic and consular division Internal-revenue division Miscellaneous division (, • 578 579 579 580 581 581 582 .^i82 582 583 583 629 631 640 642 643 643 645 CONTENTS XVII R E P O R T O F T H E F I F T H AUDITOR—Continued. I3&ge. Table H.—Internal-revenue stamps and assessments charged and cash deposited, during the year Table I.—Internal-re venue expenses during t h e year — REPORT OF THE SIXTH AUDITOR : ' Postal accounts of postmasters Consolidation of office force in one building 646 648 651-655 ...... 651 652 Appendix. Amounts submitted for suit during the year , Absences during the year Transactions iu money-orders and postal-notes during the year 653 653 654 REPORT OF THE REGISTER Distribution of force and salaries of the office during the year Work of the office : Division of receipts and expenditures Divisionof loans Division of notes, coupons, and currency Division of interest and expense of loans Improvements in office Recommendations 656-850 .- Statements. Loan division: Table A.—Number and amount of United States bonds issued during the year .' Table B.—Number and amount of United States bonds canceled during the year Table C.—Transactions in Spanish indemnity bonds Table D.—General summary of unissued bonds Table E.—Work performed by the division Note, coupon, and currency division : Table No. 1.—Number a n d amount of gold certificates, currency certificates of deposit, and seven-thirty Treasury notes received and registered Table No. 2.—Number and amount of interest checks of various loans on hand J u l y 1, 1887, and received in fiscal year 1888, and number counted, registered, and examined Table No. 2*.—Number and amount of interest checks of various loans received Table No. 3.-^Number of redeemed detached coupons of various loans on. hand received, counted, examined, etc Table No. 4.—Number and amount of exchanged, redeemed, and transferred United States coupon bonds, examined, counted, etc . , .'.-Table No. 5.—Number and amount of United States notes, silver certificates, gold certificates, refunding certificates, fractional currency, etc., examined, counted, canceled, and destroyed Table No. 6.—Work performed other than current Table No. 7.—Number and amount of exchanged, redeemed, and transferred United States coupon bonds a n d number of attached coupons, that, after examination, registration, etc., were delivered to the destruction committee to be destroyed. H. Ex. 2 II 656 ; 657 660 662 663 664 665 666 666 666> 667 667 669 669 670 • 671 673 674 678 679 XVIII CONTENTS, Page. R E P O R T O F THE REGISTER—Continued. Note, coupon, and currency division—Continued. Table No. 8.—Number and amount of exchanged, redeemed, and transferred. United States coupon bonds, and number of attached coupons examined, registered, and scheduled in duplicate, and on file at the end of the y e a r . . Table No. 8a.—Consolidated recapitulation of Table No. 8 Table No. 9.-^Number and amount of redeemed (detached) coupons received Table No. 10.—United States interest-bearing notes and certificates issued, redeemed, and outstanding. Table No. Hi—Schedule of United States internal-revenue stamps, customs stamps, silver-certificate paper. United States notes, gold certificates, silver certificates, certificates of deposit for United States notes of 1875, Pacific Railroad • bonds, United States registered bonds (4-1 per cent.), internal-revenue stamps redeemed, inspectors' commissions and miscellaneous matter unfinished, mutilated, canceled, and delivered by the Bureau of Engraving and Printing to the Secretary of the Treasiiry for destruction on statistical account -. Table No. 12.—Number and amount of certificatesof deposit of tem-: I)orary loan of various acts withdrawn from t h e files of the division of receipts and expenditures, counted, tied in packages, labeled, and scheduled Receipts and expenditures division: Receipts from customs sales of public lands internalrevenue consular fees registers' and receivers' fees labor, dray age, etc services of United States officers weighing fees customs-officers' fees mileage of examiners • fines, penalties, and forfeitures (customs) emolurnent fees (customs) , immigrant fund fines, penalties, and forfeitures (judiciary) emolument fees (judiciary) sales of Government property Pacific Railway Company ^.... Indian lands , public debt , Balances of appropriations and expenditures, e t c : Treasury Diplomatic Judiciary ^. Customs Interior civil Internal revenue Public debt 683 688 690 691 695 695 697 699 701 702 705 * 707 707 708 708 709 709 710 711 712 713 ^ 714 714 714 715 717 750 754 757 763 773 775 • \ .' CONTENTS. ' XIX Page. R E P O R T OF T H E REGISTER—Continued. Balances of appropriations and expenditures, etc.—Continued. Interior—Indians , 777 Interior—pensions 791 Military establishment , 792 Naval establishment 3. 814 Recapitulation 822 Public debt of the United States outstanding 823 Public debt of the United States from 1791 to 1836 .' 824 Principal of the public debt on the 1st of J a n u a r y of each year from 1837 to 1843, and on the 1st day of J u l y of each year from 1843 to 1887 826 Expenses of collecting the revenue from customs 828 Expenditures for assessing and collecting the internal revenue 830 Statement showing t h e number, occupation, and compensation of persons employed in the customs service 831' Population, net revenue, and net expenditures of the Government from 1837 to 1S88 ' 848 Comparative statement of the receipts and expenditures on account of internal revenue 849 Comparative statement of t h e receipts and expenditures on account of customs 849 Receipts and expenditures of the Government 849 R E P O R T O F THE SUPERVISING SPECIAL A G E N T Work of the division , Bonded warehouses and bonded routes Evasion of duties T Sugar classifications Smuggling „ 851-872 '^. 851 852 853 854 854 Appendix. Table A.—Statement showing the business transacted in each of the several customs collection districts Table B.—Merchandise transported without appraisement under act J u n e 10, 1880.... Tiable C.—Statement showing t h e invoice value and estimated duty of merchandise received at the several ports of destination under entry for immediate transportation without a p p r a i s e m e n t . . . Table D.—Statement of sugars remaining in warehouse J u u e 30, 1887, and imported and exported from t h a t date to Juno 30,1888, showing the actual quantity and classification thereon Table E.—Comparative statement of invoices examined and appraised, advanced, aj^pealed to re-appraisement, entered pro forma upon which seizure was waived, etc., also of allowances for damages, merchandise weighed, cost of weighing, etc., at the ports of New York, Boston, and Philadelphia, during the fiscal years 1886,1887, and 1 8 8 8 . . . . ', ' 856 860 862 866 872 REPOIIT. TREASURY DEPARTMENT, Washington, D. (7., Deceniber 3, 1888. S I R : I have the honor to submit the following report: RECEIPTS AND EXPENDITURES. Fiscal year 1888. The ordinary revenues of the Government from all sources for the fiscal year ended June 30, 1888, were: From From From From From From From From From From From From From From From From From From From customs internal revenue sales ofpublic lands profits on coinage, bullion deposits, and assays..., tax on national banks fees—consular, letters-patent, and land customs fees, fines, penalties, &c sinking-fund for Pacific railways repay/ment of interest by Pacific raiUvays sales of Indian lands Soldiers' Home, permanent fund , sales of Government in'opert}^ tax on seal-skins immigrant-fund deposits for surveying public lands deductions on mutiilated notes, currency, &c sale of condemned naval vessels revenues, of the District of Columbia. miscellaneous sources ., Total ordinary receipts $219,091,173 124,296,871 11,202,017 9,387,634 1, 74.8, 566 3, 433, 448 1,097,448 1,170, 331 681, 696 880, 087 433,189 365, 877 317, 500 291,189 161, 890 112,422 105,665 2, 650, 350 1, 838, 712 6a 98 23 48 85 99 20 43 95 43 29 26 00 50 76 05 88 31 54 379,266,074 76 The ordinary expenditures for the same period were: For civil expenses $22,852,334 03 For foreign intercourse 1, 593, 461 40 For Indian service 6,249,307 87 Foi-pensions 80,288,508 77 For the military establishment, including rivers and harbors aud arsenals • 38,522,436 11 For the naval establishment, including vessels, machinery, and improvements at navy-yards 16, 926, 437 65 For miscellaneous expenditures, including public buildings, lighthouses, and collecting the revenues 44,228,351 89 For expenditures on account of the District of Columbia 4, 278,113 48 For interest on the public debt 44,715,007 47 Total ordinary expenditures Leaving a surplusof 259, 653, 958 67 $119, 612,116 09 XXI XXII REPORT OF THE SECRETARY OP THE TREASURY. Which was applied as follows: Purchase of bonds for sinking-fund, including |2,852,015.88 for premium Redemption of-^ • Fractional currency for sinking-fund' Loan of J u l y and August 1861 ; Loan of 1863 Five-twenties of 1862 Five-twenties of 1865..... Ten-forties of 1864 Consols of 1865 Consolsof 1867..... Consols of 1868 ! Oregon w^ar debt Fundedloan of 1881 Loanof J u l y 1882. Old demand, compound-interest, fractional currency and other notes Purchase of— Funded loan of 1891... : Fundedloan of 1907 Premium on loans of 1891 and 1907 $46,577,165 88 7,400 34, 350 4, 500 11,300 1,500 7,850 26, 350 • 97,550 1,250 150 83,100 4,175,750 65,863 05 8,337,550 00 18,233,950 00 5,418,826 58 83, 084, 405 51 36, 527, 710 58 Leaving a balance added to the cash in the Treasury of.. Total. 00 00 OO 00 00 00 00 00 00 00 00 00 119,612,116 09 As compared with the fiscal year 1887, the receipts for 1888 have increased $7,862,797.10, as follows : Source. Internal revenue Sales of public lands Profits on coinage, assays, &c... Consular fees Deductions on mutilated notes &c Sale of condemned naval vessels Customs emolument fees Sales of Government property Deposits for surveying public lands Immigrant fund Fees on letters-patent Revenues ofthe District of Columbia Miscellaneous items Soldiers' Home, permanent fund Tax on national banks Sales of old public buildings Sales of Indian lands Repayment of interest by Pacific railways Sinking-fund for Pacific railways , Custom-house fees '. Registers' and receivers' fees Customs fines, penalties, «fec Increase, $5,473,480 76 1,804,280 50 1,947,730 81 458,381 65 161,426 40 112,422 05 105,665 88 97,871 98 103,044 94 67,601 00 32,787 00 14,487 36 323,290 13 339,278 92 11,041,749 38 Decrease. Net increase. $793,070 18 637,284 33 624,882 20 598,941 38 233,096 18 194,104 44 50,373 00 44 111 93 3;088 64 3,178,952 28 $7,862.797 10 XXIII There Avas a decrease in the ordinary exxDenditnres of $8,278,221.30, as follows: Decrease. Civil and niiscellaneous .. • War Department Pensions . .. Navy Department Indians $12,312,564 79 3,026,569 78 38,589 74 Increase. Net decrease. '$5,259,406 98 1,785,31.0 85 54,785 18 15,377,724 31 7,099.503 01 $8,278,221 30 Fiscal year 1889. For the present fiscal year the revenues, actual and estimated, are as follows: Source. Customs. Internal revenue i Sales of public lands Profits on coinage, assays, &c Tax on national banks..... . . Fees—consular, letters-patent, and lands..; Customs fees, fines, penalties, &c Interest and sinking-fund, Pacific railways ... Sales of Government property Deposits for surveying public lands Revenues of the Districtof Columbia .' Miscellaneous sources Total ordinary receipts Quarter ended September 30, 1888. Remaining three-fourths of the year. Actual. Estimated. Total. $61,404,839 24 31,242,005 47 2,236,197 58 1,429,521 13 780,500 89 637,540 12 218.686 14 557,651 21 134,334 10 28,827 34 322,349 07 970,002 65 $155,595,160 76 93,757,994 53 8,263,802 42 8,070,478 87 719,499 11 2,61.2,459 88 681,313 86 1,442,348 79 365,665 90 121,172 66 2,427,650 93 2,979,997 35 $217,000,000 00 " 125,000,000 00 10,500,000 00 9,500,000 00 1,500,000 00 3,250,000 00 900,000 00 2,000,000 00 500,000 00 150,000 00 2,750,000 00 3,950;000 00 99,962,454 94 277,037,545 06 377,000,000 00 The expenditures for the same period, actual and estimated, a r e a s follows. Object. Civil and miscellaneous expenses, including public buildings, light-houses, and collecting the revenue Indians Pensions : Military establisement, including fortifications, river and harbor improvements, and arsenals Naval establishment, including vessels and' machinery, and improvements at navyyards : Expenditures for Districtof Columbia Intereston the public debt Total ordinary expenditures.. Quarter ended September 30, 1888. Remaining three-fourths of the year. Actual. Estimated. $17,778,813 08 1,696,496 37 24,919,467 88 $61,471,186 92 4,553,503 63 52,080,532 12 $79,250,000 00 6,250,000 00 77,000,000 00 9,253,164 53 34,746,835 47 44,000,000 00 4,577,544 08 1.288,519 14 11,813,658 11 16,422,455 92 • 3,211,480 86 29,186,341 89 21,000,000 00 4,500,000 00 41,000,000 00 71,327,663 19 201,672,336 81 273,000,000 00 Total receipts, actual and estimated Total expenditures, actual and estimated Estimated surplus, applicable to the purchase of bonds Total. - $377, 000, 000 00 273,000,000 00 104, 000, 000 00 XXIV R E P O R T OF T H E SECRETARY OF THE TREASURY. Fiscal year 1890. The revenues of the fiscal year ending June 30, 1890, are thus, estimated upon the basis of existing laws : From From From From From From From From From From From From customs internalrevenue '. sales of public lands fees—consular, letters-patent, and lands tax on national banks customs fees, fines, penalties, &c interest and sinking-fund, Pacific railw^ays sales of Government property deposits for surveying public lands.. profits on coinage, assays, &c revenues of the District of Columbia miscellaneous sources |217, 000, 000 125,000,000 10^500,000 3, 250, 000 1, 500, 000 900,000 2, 000, 000 500, 000 ^50, 000 9, 500, 000 • 2, 750, 000 3, 950, 000 , * / Total estimated receipts 00 00 00 00 00 00 00 00 00' 00 00 00 . 377,000,000 00 The estimates of expenditures for the same period, as submitted by the several Executive Departments and offices, are as follows: Legislative Executive Judicial Foreign intercourse ....; Military establishment Naval establishment Indian aifairs Pensions.., Public Works— Legislative TreasuryDepartment War Department Navy Department Interior Department Department of Justice '. $3,381,963 18,955,081 ' 436,600 1, 947, 565 25,293,372 ,25,163,028 5,475,410 81,758,700 ; '. , $4,000 5,664,526 13,785,234 1,604,248 143,100 3,800 Postal service Districtof Columbia Miscellaneous Permanent annual appropriations— . Sinking-fund ...$47,800,000 Interest on the public debt 38,000,000 Refanding—custoins, internal revenue, lands, &c.. 12, 463, 500 Collecting revenue from customs 5, 500, 000 Miscellaneous 4, 927, 555 65 60 00 00 97 76 50 00 00 04 72 98 00 00 21, 204, 909 74 4,403,414 90 5,949,535 61 20,906,849-66 00 00 00 00 95 108, 691, 055 95 Total estimated expenditures, including sinking-fund Or an estimated surplus of 323, 567, 488 34 53, 432, 511 66 Excluding the sinking-fund, the estimated expenditures will be $275,767,488.34, showing a surplus of $101,232,511.66. SINKING-FUND. The requirements dfthe act of February 25,1862 (E. S., 3688, 3689), establishing a sinking-fund for the gradual extinguishment ofthe public SINKING-FUND—-SURPLUS REVENUE. ^ XXT debt, estimated for the current fiscal year at $47,583,000, have been thus far met by the redemption of treasury notes, fractional currency, and bonds of the United States which had ceased to bear interest, amounting to $77,797.35, and by the purchase Qf $26,839,650 of the funded loan of 1907 and $12,143,150 of the funded loan of 1891, at a cost to the fund for premium of $7,672,222.29 on the former and $844,206.73 on the latter loan. SURPLUS REVENUE. . In the last annual ^report it was estimated that the revenues for the year to end June 30, 1888, would exceed the ordinary expenditures, not including the sinking-fund, by $113,000,000. It will be seen from the foregoing statement that such excess was in reality 1119,612,116.09, or $6,612,116.09 more than the Department estimate. It was also estimated in the same report that the like surplus for the fiscal year to end June 30, 1889, would be'$104,313,365.64. Judging from the actual expenditures for the first quarter of this fiscal year, and in the light of receipts and expenditures to the middle of E^ovember, it is probable that this estimate will prove to have been fairly accurate, and that the suri)lus will almost exactly equal the predicted sum, a remarkable result since its factors w^ere subject to all the uncertainties of future revenues and of expenditures to be authorized by a Congress not yet assembled. The accumulated surplus on September 29, 1888, was $96,444,845.84; the surplus revenues from that date to June 30, 1889, as estimated, are $75,365,208.25, making the total accumulation on June 30, 1889, which could be used in the purchase of bonds, $171,810,054.09; however, between said September 29 and November 22, $44,399,509.50 has been paid for bonds; consequently if no more bonds were bought between now and June 30 next the surplus would then amount to $127,000,000. Upon the basis of appropriations recommended by the Department and upon the assumption that the revenues of the fiscal years to end June 30, 1889 and 1890, will be equal, the surplus revenues for the latter fiscal year will be $101,000,000, which, with the surplus revenues ofthis year and the surplus alreadj;^ accumulated, make a total of $228,000, OOQ, which might be used during the next nineteen months in the purchase of the interest-bearing debt, and which ought to be used for that purpose, unless the laws are so changed as to reduce the difference between expenditures and revenue by nearly that sum. About $188,000,000 of the four-and-a-half per cent, bonds are now outstanding; they are payable September 1, 1891. The total amount XXVI REPORT OF T H E SECRETARY OF T H E TREASURY. of interest which will accrue on them from now until their maturity is in round numbers $25,000,000; consequently the present surplus and the surplus which will probably accrue before July 1,1890, will suffice to pay the principal .of those bonds and all the interest which would accrue upon them should they be permitted to remain unpaid until their maturity. The principal of the four' per cent, bonds is now $680,000,000, and the interest which could accrue upon them ufttil their maturity in 1907 is about $500,000,000; a calculation will show that the present surplus revenues, if continued, would pay before 1900 all of these four per cent, bonds and all of this interest. Of course all the money which is saved by purchase of bonds at less than the principal and the interest to accrue but shortens the time w^hen all the bonds may be paid if the holders will surrender them. Nothing more is needed than the foregoing statement to show the absolute necessity of a readjustment of the public revenues at the earliest possible date. That it will be necessary to pay nearly the whole of the interest which will accrue upon the public debt if an attempt is made to invest the present surplus revenues in it before its maturity is evident from the fact that even now the Government is paying forthe four-and-a-half per cent, bondsfa price which realizes only about one-and-a-half per cent, annually, and receives but meager offerings of them at that price. To continue taxation with no other use for its proceeds than such an investment is a cruel waste of the people's money. PURCHASE OF BONDS. Since the last annual report and after the completion of the sinking fund requirements for the year ended June 30, 1888, no bonds were bought until there had been an expression of opinion by resolutions in both Houses of Congress, that it was lawful and proper to invest the surplus in bonds, at the premium necessary to obtain them. Under the then state of public opinion in many parts of the country upon this question, both as to its legality and propriety, it seemed wise to seek the cooperation of the Congress in this important matter. I am confident that the delay in the purchase of bonds while waiting for Congress to act resulted in ,no substantial pecuniary loss to the Government. The purchase was resumed under a circular of April 17, 1888, and since that time nearly all the bonds which have been offered for sale to the Government have been bought by it, as will appear from an inspection of the bond-purchase book. Of course many offerings of bonds PURCHASE OF BONDS—REDUCTION OF TAXATION. XXYII have been declined because the price was thought to be too high, b u t . finally, almost all of the offered bonds were bought at some price. An example will show this more clearly. Certain bonds of a par value of only $326,000 were offered so often that the offerings aggregated over $19,700,000, but they were at last secured by the Department. Ninetyfour millions of dollars of bonds have been secured under this circular, and a premium paid for the privilege of buying them of about $18,000,000; the net rate of interest realized from this investment is only about two per cent., and the saving in the total amount of interest which would have been paid had the bonds been alloAved to run to maturity, is about $27,000,000. Had taxation been reduced so as to leave this money with the people, and if it is worth in their business 6 per cent, per annum, the total value of the money to them during the term which these bonds had to run would be about $83,000,000; thus, there is a resulting loss to the people of $56,000,000 upon this transaction alone; if this over taxation is not stopped, and if the Government is forced to continue to be a purchaser of its own bonds at the holders' prices, the loss to the people, as could be shown by a like calculation, must be hundreds of millions of dollars. REDUCTION OF TAXATION. I cannot too strongly repeat my recommendation of last year to reduce taxation, and as far as possible, without too sudden disturbance of existing interests, to make this reduction in customs taxation, to the end that the people may get the greatest possible benefit from the reduction. Beside the vexed economic question as to whether a country can make itself prosperous by a tariff; whether it can increase the relative • average comfort of its whole people by diverting a portion of its labor and capital from the employments which could be most profitably followed under natural conditions, thereby making certain of the necessaries of life more costly than they would be otherwise, there is a higher moral question which may well be asked, and that is, "^can a government be kept pure and free which, through the agency of its laws, offers vast pecuniary temptations to some kinds of business'? There are many indications»that this question must be answered in ' the negative. There are many proofs that large classes of our business men have come to depend for success upon their skill in manipulating governmental agencies rather than upon industry, intelligence, and honorable competition. Is it not possible that eagerness for the money which men assume XXVIII REPORT OF THE SECRETARY OF THE TREASURY. <comes to theni only through government, may lead them to use an evergrowing proportion of their gains to possess and influence the supposed source of their wealth? And will not the endeavor to make men rich soon become the chief function of our Government*? Is not this already the case*? If these dangers exist,.if they are not overestimated (and they do exist and are not overestiniated), then can it be doubted that the true welfare of our people calls for the rescue of the Government from them as speedily as^ may be*? ° This can only be done by severing government from private business. Steps should at once be taken in that direction, always, however, let me repeat, bearing in mind interests which have become established under present laws; to the end that they may not suffer unduly while beneficient reforms are made. CURRENCY CIRCULATION. The following table shows changes in circulation which are interesting : Comparative-statement shoioing the changes in circulation from July 1, 1887, to November 1, 1888. In circulation In circulation J u l y 1, 1887. N o v . 1, 1888. Decrease. • s t a n d a r d silvei* d o l l a r s S u b s i d i a r y s i l v e r ..". Gold certificates United States notes National bank notes Totals Increase. • $3,258,210 4,297,040 3,874,453 49,388,221 87,665,135 $376,758,607 55,504,310 48,697,259 91,225,437 142,118,017 326,667,219 276,855,203 $380,016,817 59,801,350 52,571,712 140,613,658 229,783,152 309,867,696 235,217,283 $16,799,523 41,637,920 1,3.17,826,052 1,407,871,668 . 58,437,443 Netincrease 148,483,059 $90,045,616 Comparative statement shoioing the changes in money and hullion held in the Treasury from July 1, 1887, to Novemher 1, 1888. In Treasury J u l y 1,1887. G o l d coin ?. S t a n d a r d silver dollars Subsidiary silver XTnited S t a t e s n o t e s . . . . National b a n k notes Gold bullion Silver bullion Trade-dollars as bullion Totals Net increase In Treasury N o v . 1, 1888. $192,368,916 211,483,970 26,977,494 20,013,797 2,362,585 85,732,190 3,982,472 6,934,963 $223,209,020 • 249,979,440 24,088,769 36,813,320 4,167,954 108,479,213 4,369,972 6,189,142 549,856,387 657,296,830 Decrease. Increase. $30,840,104 38,495,470 $2,888,725 16,799,523 1,805,369 22,747,023 387,500 745,821 3,634,546 111,074,989 $107,440,443 As was the case last year, the increase in circulation this year has been in the form of small money. The increase of outstanding paper SILVER COINAGE. XXIX and coin, in denominations of $20 and less is more than $115,000,000, , thus exceeding the total increase of circulation aniong the people by • about $25,000,000, and'showing a conversion of larger into smaller denominations to that extent. SILVER COINAGE. The ownership of silver by the Government again was largely decreased, in spite of the increase of the total stock of silver dollars in the country, by the coinage of 16 months. During the past few years the decrease of circulation caused by the cancellation of national-bank notes, and by the deposit of money with the Treasurer by the banksto redeem their notes when presented for that purpose, has been but little exceeded by the increased circulation of silver certificates and of standard silver dollars; thus silver seems to.have filled the vacuum caused by the retirement of national-bank circulation. The circulating medium in small denominations has been largely converted into silver certificates. And, finally, business has largely increased in the South and in portions of the country where there are few banking facilities. All of these causes have cooperated to postpone any evil effects which might arise from a continued and excessive coinage of the silver dollar; but the danger still exists, and should be guarded against. This can be done by the adoption of the recommendation of my last report, viz., by fix:ing the maximum of silver which shall belong to the Government, and by providing that when it was exceeded by $5,000,000, the purchase of silver bullion should cease until the amount owned by the Government should be again reduced to such maximum, or by canceling United States notes to the amount of the-excess over the maximum, provided the Government held the notes ; if not, then by ceasing the purchase of bullion. Such plan, if adopted, would provide a safety valve which would be self-operative, and would assure the country against any possible danger from silver; for as soon as it exceeded the amount which could be absorbed in the business of the country, it would begin to flow into the Treasury in payment of taxes, and would be there held until business called for it, and when theGovernment's ownership fell below the maximum, the purchase of the bullion would again begin. ' Thus the country's business demand would regulate the country's silver circulation, and there would be little danger of depreciation in the value of the silver dollar as compared with the gold dollar. I venture to predict that if some such safeguard is not adopted, and if thereby XXX REPORT OF THE SECRETARY OF THE TREASURY. the silver dollar is suffered at some time to lose a part of its purchasing power, that the people will demand the absolute stoppage of the silver bullion purchase, and furthermore, the use by'the Government of the whole or a portion of the silver coinage profits for the redemption of the silver dollars which are held by them. It is to be hoped that before such crisis is reached that the nations of the world will have agreed upon some standard of bimetallism which will forever maintain a fixed ratio between gold and silver, but in the meantime thereis no occasion to burden ourselves with a stock of silver which may be troublesome. COIN CERTIFICATES. The system of coin circulation by means of certificates has certain conveniences and advantages, but it is a costly form of money. Last year the cost of the $105,000,000 silver certificates issued was about $421,000, and as more and more ofthese certificates are converted into smaller denominations this cost is likely to increase. There are also certain dangers connected with i t ; for exami)le, in time of war, the possession by the Government of such vast stores of the precious metals might prove embarrassing, and, at a time when the Government was in financial need, the temptation to spend the coin held against outstanding certificates might prove too strong. The loss by the abrasion of the coin, if it was in circulation, would not equal the cost of the certificates. On the whole I think it may be said that the currency of the country would be more safe and more economical if the coin were in actual circulation instead of being held by the Government on pledge against outstanding certificates, as is now the case. But whatever may be thought about the wisdom ofthe certificate system, there can be no doubt that with it the further coinage of gold and silver, except subsidary coin, is not necessary or wise. Far more gold and silver coins are now in the possession of the Government than probably ever will be needed for the redemption of certificates. Future accumulation of the precious metals should be only in the form of bullion, which can be kept more safely and counted more easily than the coin. If this suggestion was adopted all but one of our mints might be closed, and large, useless expense be saved annually. I earnestly call the attention of the Congress to this subject. 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 two hundred and ninety-seven national bank depositaries. CUSTOMS ADMINISTRATION.. , XXXI The gross receipts of the Government, amounting during the fiscal year, as shown by warrants, to the sum of $664,282,224.76 ($285,016,150 of which were oh account of United States notes, certificates, and con- ' version of refunding certificates), were deposited as follows, viz: I n the Treasury and sub-treasuries In national bank depositories $532, 953, 095.72 131, 329,129. 04 \ CUSTOMS ADMINISTRATION. , While much progress has been made in the reformation of abuses in the Customs Service, the inadequacy of the present laws renders it practically impossible to correct many of the evils and inequalities which have so long and so seriously affected our Customs system. In my last annual report I called attention to the more important defects in the existing law, and indicated certain remedies which appeared advisable, and which may be briefly summarized as follows: 1. The elimination from the tariff schedules of the numerous ambiguities and conflicting provisions, which for many years have been constant subjects of dispute and litigation. 2. The amendment of the laws relating to appraisement, so as to provide for a more efficient supervision of the work of local appraising officers, by increasing the number of general appraisers, enlarging their powers, and conferring upon them exclusive appellate jurisdiction in questions of value. 3. The repeal of existing pi-ovisions of law which so restrict the Government in suits for fraudulent undervaluations, as to make it impossible to recover penalties or secure forfeitures. 4. The simplification of the law relating to the determination of the dutiable value of merchandise subject to ad valorem rates, particularly with respect to coverings, packing charges, &c. 5. Such modifications of the law respecting the forms of declarations to invoices by shippers as will harmonize the same with the requirements regarding, entry. 6. 'The amendment of the law so as to subject merchandise entered on pro forma invoice to the same conditions as are imposed in case of entry upon '^original" or regularly certified invoice. 7. The discouragement of speculative suits and of protests and appeals, by providing more effective means for the prompt and summary hearing and final decision of questions of classification. 8. A clear definition of what is meant by the words ^^ component material of chief value," and a specific rule whereliy the same may be determined. 9. The abolition or limitation of damage allowances. XXXII REPORT OF THE SECRETARY OF THE TREASURY. 10. The amendment of the law relating to drawbacks on exported goods, so as to provide for the payment of the full amount of the duties paid on imported materials, and no more, and for such proofs and safeguards as will prevent frauds and imposition in such cases. Bills now pending before Congress contain provisions which substantially meet these suggestions, and which have, in one form or another, received the sanction of this Department. Incongruities of the Tariff Schedules. Certain incongruous provisions of the present tariff schedules are so hurtful to domestic industries, so fruitful of complaints, contentions, and suits, and are so menacing to the Treasury, that I feel constrained to express the hope that they will receive attention at this session of Congress, even if there should be no further legislation respecting the tariff. I refer particularly to the provision of ^'Schedule K " under which worsted cloths are admitted at lower rates of duty than woolen cloths, and to which I called especial attention in my last annual report (the duties now levied on worsted cloths are, in my judgment, as high as they should be, but the duties on the wool, of which they are woven, should be reduced so as to permit their profitable manufacture, and the duties on woolen cloths should be correspondingly reduced); to the provision of the same schedule for ^^waste," under which the highest qualities of carded and purified wools are held to be entitled to admission at the same duty as that provided for rags, shoddy, and other adulterants; and to the'provision in '^Schedule N " for/^Hat materials," &c., under which manufactures of silk of various kinds, including broad silks and ribbons, are claimed and held to be entitled to admission at twenty per cent, ad valorem, while ^^ Schedule L " imposes a duty of fifty per cent, ad valorem on all such goods. Condition and Needs of the Service, I commend to the attention of Congress the accoinpanying report of the Supervising Special Agenf^' as containing valuable information and suggestions concerning the condition and needs of the Customs Service, with detailed statements of the amount of business transacted, the^ expense thereof, and number of persons employed at each of the customs ports and districts during the past fiscal year ; also the value of merchandise and estimated duties thereon transported from exterior to interior ports without appraisement. It is gratifying to be able to show a further reduction in the percentage cost of collecting the customs revenue; during the past yea;r it was 2.94 per cent., for the year 1885 it was 3.77 per cent. ^Tliis report will be found in the Appendix, page 851. CUSTOMS ADMINISTRATION—FOREIGN COMMERCE. XXXIII Consolidation of Districts. I renew the recommendation made last year, and repeatedly made by my predecessors, fpr the consolidation of customs districts, and the abolition of useless customs establishments. I t seems to have been the policy of Congress for several years past to create new ports, but not to discontinue those which have long since ceased to have any importing trade or other business of consequence, and are still maintained at large expense. If this policy, is to continue, and appropriations are^not to be made annually according to estimates submitted, as required by the fifth section of the act of August 5,1885, it is imperatively necessary, for reasons detailed in my last annual report, that the permanent appropriation for the expense of collecting the revenue from customs shall be considerably increased. Fixed Salaries for Collectors a7id Surveyors. I also renew the suggestion that the compensation of alL collectors and surveyors of customs be fixed by law and paid from the Treasury, and that all fees, emoluments, and perquisites now allowed to these officers be abolished. This should be done both as a measure of economy and to promote the morale and efficiency of the service. Conferences of Local Appraisers, • These conferences have been continued during, the past year,, and under the increased appropriation made for their support by the act of October 2, last, steps have been taken towards'extending their benefits to the more distant ports. The reports received from the recording officers, and the individual opinions expressed by the appraisers who attend the conferences, so far as heard from, continue to commend their influence as exceedingly beneficial to the service. FOREIGN COMMERCE. The values of bur imports from and exports to foreign countries during the year ended June 30, 1888, as compared with the preceding fiscal year, were as follows: Merchandise, 1887. Exports— Domestic Foreign ; Total ' .. Imports Excess of exports Excess of imports H. Ex. 2- -III 1888. $703,022,923 13,160,288 $683,862,104 12,092,403 716,183,211 692,319,768 695,954,507 723,957,114 23,863,443 '. 28,002,607 XXXIV REPORT OF T H E SECREITARY *0F T H E TREASURY. Specie, 1888. Exports Imports E x c e s s of i m p o r t s , $35,997,691 60,170,792 $46,414,183. 59,337,986 24,173,101 12,923,803 The total value of the imports ahd exports of the last fiscal year,, when compared with that of the fiscal year 1887, shows an increase of $20,992,328. [An extended analysis of the condition, growth, leading characteristics, &c., of our foreign trade, as compared with that of preceding years, will be found in the Annual Eeport of the Chief of the Bureau of Statistics on Foreign Commerce.] . Exports, The value of our exports of domestic merchandise during the last fiscal year was less than that of 1887 by $19,160,819. The following are the articles of domestic product or manufacture the exports of which have materially increased during the last fiscal year: . I n c r e a s e d o v e r 1887. Animals......... , Wlieat-flour Copper-ore !...., Cotton, unmanufactured Beef products....... Wood, and manufactures of... $2,286,728 -2,827,628 ' 3,370,763 16, 794, 703 2, 922, 812 3, 408,174 , The following are the articles of domestic product or manufacture the exports of which have decreased during the last fiscal year: D e c r e a s e d s i n c e 1887. Corn Wheat... Cotton, manufactures of. Hog products Oleomargarine Sugar, refined Tobacco, unmanufactured ..., i |5, 991, 411 34,475,013 1, 916,153 2,360,066 1,322,222 9,250,977 4, 012,193 FOREIGN COMMERCE„ XXXV The values of the principal articles of domestic merchandise exported during the two years ended June 30,1887 and 1888, were as follows: Articles. 1887. Animals Breadstuffs Coal Copper, and manufactures of Cotton, a n d man-ufactures of... Furs and fur-skins Iron and steel, and manufactures of. Leather, and manufactures of. Oil-cake a n d oil-cake meal Oil, mineral Provisions: Meat products! Dairy products ! Sugar Tobacco, and manufactures of '. AVood, and manufactures of. ; Total Value of all domestic exports. , Per cent, of enumerated articles to total $10,598,362 165,768,662 4,526,325 3,727,447 221,151,399 v4,807,277 15,963,756 10,436,138 7,309,691 46,824,915 $12,885,090 127,191,687 6,295,380 3,812,798 236,029,949 . 4,777,246 17,763,034 9,583,411 6,423,930 47,042,409 82,945,994 9,837,302 11,442,337 29,230,672 19,654,934 82,142,687 10,916,018 2,192,290 25,514,541 ' 23,063,108- 644,225,211 615,633,578 703,022,923 91.6 683,862,104 90.2. The values of exports of domestic merchandise during the year ended June 30, 1888, classified by groups according to sources of production, were as follows: Values. Products of aoriculture .. ..!^. . Products of inanufacture... f'roducts of mining (including mineral oils) Products of the forest Products of the fisheries. Other products '. . . . . . . $500,840,086 130,300,087 17,993,895 23,991,092 5,518,552 5,218,392 Total 683,862,104 Per cent. '' 73 23 19 05 2.63 3 51 .82 .76 100.00 Imports. The total value of the imports of mefchandise increased from $692, 319,768 in 1887 to $723,957,114 in 1888, being an increase of $31,637,346, or 4.6 per cent., of which $9,850,484 represents theincrease i n t h e value of free merchandise, and $21,786,862 the increase in the value of dutiable imports. The following are the articles .of merchandise the imports of which have materially increased or decreased during the fiscal year 1888: Increase. Free of d u t y : Coffee Fruits, including nuts, not elsewhere specified India-rubber and gutta-percha, crude Ore, silver-bearing Tin, bars, blocks, or pigs Dutiable: Breadstuffs Hemp, ahd substitutes for.... , " .•> 14,160,030 1, 020, 208 2,310,4.79 1,317,279 1,8.30,866 2,115,564 2,893,315 XXXVI REPORT OF T H E SECRETARY OF T H E Sisal-grass, and other vegetable substances Flax, hemp, jute, &c., manufactures of Hats, bonnets, and hoods, and materials for Bars, railway, of steel, or in part of steel Tin-plates, terne-plates, or taggers' tin Seeds, not medicinal, not elsewhere specified Silk, manufactures of. Tobacco, and manufactures of..... Vegetables Wood, and manufactures of. Wool: Clothing wools Manufactures of. TREASURY. \ $1, 697, 893 1, 809,143 1,517,267 1,731,378 2, 068, 454 1,260,662 2,003,076 2, 201, 327 5, 015, 07S 1,026,845 1,109,675 ' 816,675 , .' Decrease. Free of d u t y : Tea ....' 2. Dutiable: Fruits, including nuts Hops Pig-iron 2. Scrap-iron, wrought, and cast, fit only to be remanufactured Ingots,' blooms, slabs, billets, and bars of steel, &c Sugar, molasses, sugar-candy, and confectionery Combing-wools ,. 3,411,117 = 1,126,471 2,387,174 1,485,909 1, 562, 68°6 1, 373, 921 5, 025,181 1,197,995 Imports Entered for Consumption. The values of imported merchandise entered for consumption in the TJnited States, and the ordinary duty collected thereon, during the last four fiscal years, have been as follows: V a l u e of m e r c h a n d i s e . Dutiable. Ordinary duty collected. $386,667,820 41.3,778,055 450,325,322 468,143,774 $177,319,550 188,379,397 212,032,424 213,509,802 Y e a r e n d i n g J u n e 30— F r e e of d u t y . 1885 1886 1887 1888 : $192,912,2.34 211,530,759 233,093,059 244,104,852 ' A v e r a g e r a t e c o l l e c t e d on— Dutiable. P e r cent. 45.86 45.55 47.10, 45.63 Free and dutiable. P e r cent. 30.59 30.13 31.02 29.98 It will be seen that while there was an increase of $17,818,452 in the value of dutiable imported merchandise entered for consumption during the last fiscal year, as compared with the preceding year, the amount of customs revenue derived from' these importations was about the same JIS the revenue derived from similar importations during the fiscal year 1887. The principal changes in duties collected on articles and classes of articles imported was an increase in the duty collected on manufactures of wool; flax, hemp, jute, and manufactures of; silk, manufactures of; manufactures of iron; and potatoes; and a falling off in the duty collected on imports of sugar, molasses, and confectionery; raw wool; and iron ore and pig iron. ' FOREIGN COMMERCE. XXXVII Leading Articles of Imports Entered for Consumption. The follbwing table shows the values of the leading and all other articles of imported merchandise entered for consumption in the United States, including both entries for immediate consumption and with drawals from Avarehouse for consumption, during the years ending June 30, 1887 and 1888: F E E E OF D U T Y . 1887. Articles, Values. Values. Dollars. 56,3G0,701 42 27,025,787 62 24,225,776 2L 19,640,397 00 13,762,627 00 16,373,422 66 6,927,710 00 4,767,628 58 4,538,719 21 3,840,925 00 3,550,191 83 3,315,964 92 3,136,081 52 2,659,700 47 1,960,405 30 1,670.008 00 2,404,423 00 1,736,239 58 2,4,1,279 GO 1,098, SOL 82 1,239.247 00 1,773;367 98 28,614,493 34 Coffee : Chemicals, drugs, dyes, a n d medicines H i d e s a n d skins, other t h a n fur-skins S i l k s , u n m a n u f a c t u r e d , c o c o o n s , eggg^ &c.......... India-rubber a n d gutta-percha Tea Tin, bars, blocks, or pigs, grain or«granulated... Fruits, including nuts .• Paper-stock, crude '.. Ores (emeKy,gold, and'silver) Wood, unmanufactured Spices, u n g r o u n d Animals '. H o u s e h o l d effects, &c., of i m m i g r a n t s Eggs C o c o a o r c a c a o , c r u d e , l e a v e s a n d s h e l l s of Hair Oils, fixed o r e x p r e s s e d a n d v o l a t i l e o r e s s e n t i a l F u r s a n d fur-skins, undressed Fish ; C o r k - w o o d o r cork-barl^«^ u n m a n u f a c t u r e d Fertilizers A l l o t h e r free a r t i c l e s T o t a l free of d u t y 233,093,659 15 DoUars. 60,509,522 29 25,679,931 59 23,972,616 58 19,932,337 00 16,077,262 00 13,473,919 38 8,758,562 00 5,774,847 97 5,462,255 83 5,238,647 00 4,140,708 72 3,344,069 06 3,336,621 75 2,989,496 23 2,312,476 56 2,252,031 00 2,129,938 00 2,029,783 87 1,952,305 37 1,385,5,14 42 1,030,695 00 1,003,829 GO 31,317,481 79 > 244,104,852 46 DUTIABLE. The following are the leading articles of imported merchandise entered for consumption on which the customs revenue was collected during the last two fiscal years ending June 30, 1888 : 1888. . 1887. . Articles. . Value. S u g a r , m o l a s s e s , a n d c o n f e c t i o n e r y . . . . $72,242,279 20 W o o l , a n d m a n u f a c t u r e s of: AVool r a w M a n u f a c t u r e s of. Duty collected. $58, .016,686 34 Value. Duty collected. $68,973,214 36 $52,007,979 89 36,351,369 97 44,235,243 64 5,899,816.63 29,729,717 50 34,064,100 10 47,158,048 16 4,729,486 50 32,213,120 65 60,586,613 61 35,629,534 13 61,222,148 26 36,942,607 15 M a n u f a c t u r e s of. 8,622,254 08 41,996,731 52 3,667,021 88 17,046,212 01 6,869,228 18 44,110,841 53 2,882,886 34 18,391,246 11 Total 50,618,985 60 20,713,233 89 50,980,069 71 21,274,132 45 Total I r o n a n d s t e e l , a n d m a n u f a c t u r e s of: XXXVIII REPORT OF T H E SECRETARY OF THE TREASURY. 1888. 1887. Articles. Duty collected. • Value. Duty collected. Value. F l a x , h e m p , j u t e , &c., a n d m a n u f a c t u r e s of: M a n u f a c t u r e s of' $11,880,121 00 21,927,161 55 '. $1,930,340 02 7,567,641 72 $16,597,150 00 23,015,588 10 $2,388,002 33 7,914,092 99 9,497,981 74 39,612,738 10 10,302,095 32 32,942,629 28,706,702 15, 106,551 12,814,525 11,032,310 12,314,428 11,671,497 03 67 08 85 74 66 21 16 351,685 48 11 491 897 37 4,477,535 21 4,622,441 94 1,182,334 34 9,734,987^5 3,479,248 89 614,186 73 2,939,923 04 3,848,133 05 1, .353,889 50 1,972,287 27 7,310,190 09 666,666 39 2,981,772 22 4,014,805 58 10,190,946 40^ ^ 7, 402,242 82 10,636,366 86 7,663,244 19 2,977 26 1,500,206 83 18,188 39 9,362,475 22 3,426 39 1,681,? 572 08 33,807,282 55 Total 31,264,276 29,150,058 C o t t o n m a n u f a c t u r e s of 15,088,073 Fruits including nuts O h e m i c a l s , d r i i g s , d y e s , a n d m e d i c i n e s . . 13,285,225 10,981,191 Jewelry and precious stones 10,955,125 T o b a c c o , a n d m a n u f a c t u r e s of 10,933,569 L e a t h e r , a n d m a n u f a c t u r e s of 58 83 82 75 66 03 77 15,540,300 11,710,719 4,210,098 4,654,165 1,162,300 9,127,758 3,286,862 70 88 61 24 19 26 17 Liquors—malt, spirituous, and wines: 1,267,.309 25 1,909,899 96 7,013,737 19 Snirits distilled Wines Total AVood, a n d m a n u f a c t u r e s of M a n u f a c t u r e s of 15,087 39, 8,208,'416 67 .' Total Grlass a n d e r l a s s w a r e F a n c y articles Breadstuffs Hats, bonnets, and hoods, and aiater i a l s for F u r s a n d m a n u f a c t u r e s of Total ; 8,223,504 06 1, .503,184 09 9,380,663 61 1,684,998 47 7,301,339 7,185,998 6,386,560 5,708,093 78 95 72 40 4,510,312 2,949, 360 1,075,811 3,251,881 48 14 24 22 7,721,453 7,237,822 8,215,333 6,262,337 31 46 07 59 4,799,251 3 022,742 1,115,811 3,568,276 52 22 23 56 4,902,911 4,665,066 4.545,265 52,302,953 07 51 24 02 1,051,609 • 933,013 926,217 14,879,150 00 30 73 70 5,748,751 4,661,849 4,811,412 57,990,968 83 06 44 08 1,241,915 932,369 \971,195 11,643,060 45 81 86 87 450,325,321 55 212,032,423 90 468,143,773 98 213,509,801 5? FOREiaiSr CARRYING TRADE. The following table shows the values of the imports and exports of the United States carried respectively in American vessels and in foreign vessels during each fiscal year from 1856 to 1888, inclusive, with the percentage carried in American vessels: • I n cars a n d other land vehicles. Y e a r e n d i n g J u n e 30— 1856 1857 1858 1859 I860 1861 1862 1863 1864 . ... 1865 1866 1867... 1868 1869 1870 1871 L872 '..... :• ; $22,985,510 27,650,770 Ih American vessels. $482,268,274 510,331,027 447,191,304 465,741,381 507,247,757 381,516,788 217,695,481 241,872,471 184,061,486 167,402,872 325,711,861 297,834,904 297,981,573 289,956,772 352,969,401 353,664,172 345.331,101 I n foreign vessels. $159,336,576 213,519,796 160,066,267 229,816,211 255,040,793 203,478,278 218,015,296 343,056,631 485,793,548° 437,010,124 685,226,691 581,330,403 550,540,074 586,492,012 638,927,488 755,822,576 839,346,362 Total. ^ $641,604,850 723,850,823 607,257,571 695,557,592 762,288,550 584,995,066 435,710,714 584,928,502 669,855,034 604,412,996 1,010,938,552 879,165,307 848,527,647 876,448,784 991,896,889 1,132,472,258 1,212,328,233 Percentage carried in American vessels. 75.2 70:5 73.7 66.9 66.5 65.2 50.0 41.4 27.5 27.7 32 2 33 9 35 1 33 1 35 6 31 2 28.5 FOREIGN CARRYING TRADE—IMMIGRATION. / Y e a r e n d i n g J u n e 30— 1873 1874 , 1875.. 1876 1877 1878. 1879...'..: 1880 1881 1882 1883 1884 1885.... 1886....'. 1887 1888., I n cars a n d other l a n d vehicles. $27,869,978 23,022,540 20,388,2a5 18,473,154 17,464,810 20,477,364 19,423,685 20,981,393 25,452,521 . 34,973,317 48,092,892 46,714,068 45,332,775 43,700,350 48,951,725 54,356,827 In American vessels. $346,306,592 350,451,994 314,257,792 311,0-^e, 1.71 316,66(), 281 313,050,906 272,015,692 258,346,577 250,586,420227.229.745 240,420,500 233,699,035 194,865,743 197,349,503 194.356.746 190,857,473 I n foreign vessels. Total. $966,723,651 939,206,106 884,788,517 813,354,987 859,920,536 876,991,129 911,269,232 1,224,265,434 1,269,002,983 1,212,978,769 1,258,506,924 1,127,798,199 1,079,518,566 1,073,911,113 1,16.5,194,508 1,174,697,321 $1,340,899,221 1,312,680,640 1,219,434,544 1,142,904,312 1,194,045,627 1,210,519,399 1,202,708,609 1,503,593,404 1,545,041,974 1,475,181,831 1,547,020,316 1,408,211,302 1,319,717,084 1,314,960,966 1,408,502,979 1,419,911,621 XXXIX Percentage carried in American vessels. 25.8 26 7 25.8' 33.1 26.5 25.9 22 6 17.18 16.22 15.40 15.54 16.60 14.76 15.01 13.80 13.44 NOTE l.^-The yalue of commodities carried in cars and other land vehicles was not separately stated prior to J u l y 1, 1870. ^ < NOTE 2'.—The amounts stated prior to 1880 include the value of coin and bullion, those from. 1880 to 1888, inclusive, merchandise only. Thus it will be seen that our foreign commerce, carried in vessels of the TJnited States, measured by its value, has steadily declined from 75 per cent, in 1856 to less than 14 per cent, in 1888. Even of this small percentage only 53 i3er cent, was carried in steam-vessels bearing our flag. IMMIGRATION. The state commissioners heretofore employed under contracts au-thorized by the immigrant act, have* continued during the last fiscal year to conductjthe local affairs of immigration at the following ports: Baltimore, Boston, Galveston, Key West, I^ew Orleans, ISTew York, Philadelphia, Portland, Me., and San Francisco. The immigration at none of the other ports was deemed sufficient to justify the employment of a commissioner, and the business has been conducted by the, respective collectors of customs at those ports. The receipts of capitation-tax for the year ending June 30, 1888, were $291,189.50. The expenditures on account of immigration during the year were $159,836.10.'^ , The total number of alien passengers coming into the IJnited States, by steam or sail vessel from foreign countries, other than the Dominion of Canada and Mexi(30, during theyear ending June 30, 1888, was 567,510, of which number 20,621 were tourists or aliens nbt intending to remain in the United States. The following statement exhibits the number of immigrants examined by the commissioners of immigration at the several ports named, and R E P O R T OF THE SECRETARY OF T H E XL TREASURY. the number returned to the countries whence they came, during the year ending June 30, 1888 : No . returned. No. examined. ' • : ^ Ports. •i2 Male. Female. Total. .2 '> a if. t -2 o o> OJ b o "'3 0 i o o Baltimore 411. Galveston Key West N e w Orleans NewYork Portland S a n FranciBco Total . 1.7,777 26,260 91 3, 614 • 2,782 255,401 22,132 158 15,559 15,625 19,3?2 13 1,411 793 13*1,728 14,886 95 1,636 33,402 45,632 104 5,025 3,575 387,129 37,018 253 *17,195 343,774 186,559 529,333 2 .24 36 71 38 95 11 8' 801 81 6 16 873 89 6 17 19 1,011 1,118 / 15 46 15 73 1 * Includes 12,967 Chinese returning. The recommendations contained in my last annual report respecting certain amendments to the Immigrant Act, are here repeated asfollows: '^That liie existing law be so amended that, in addition to the provision x^rohibiting the landing of aliens liable to become a public charge, idiots, lunatics, and convicts, a fine reasonable in amount should be imposed upon the master of the vessel for every such person brought by him to this country, and that such fine be made a lien upon the vessel. <« Provision should also be made that, where aliens, after having been landed, are found, within a time to be fixed, to be of either of the classes whose landing is prohibited, they should be deported by or at the expense of the master or owner of the vessel bringing them, and, on failure to do so, such master or owner to be subject to fine.'' The examinations of immigrants required by the laws relating to alien contract-labor have been made by the collectors of customs at the several ports, aided by the commissioners of immigration at ports where those ofiicers were stationed. No appropriation having been made to carry into effect the provisions of the act during the fiscal year ending June 30, 1888, its enforcement was necessarily made an incident of the customs service, and, with the limited appropriations provided for that service, the means for a perfect and successful execution ofthe law were wanting. It is believed, however, that the collectors haye been vigilant, and have made every effort within their power to prevent t»he landing of all persons known to them to be within the prohibition of the statute. But their first duty is the collection of the revenue, and as the force at their cohimand has been barely sufiicient for that purpose, they should IMMIGRATION NAVIGATION. XLI not be held responsible for evasions of the law which they were powerless to prevent. All cases of alleged violations of law reported to the Department Tere referred to the Department of Justice for prosecution. A t t h e request of the Department an appropriation has been provided ior the present year for the purpose of carrying into effect the i3rovisions of the law. And, in order to render the execution of the law more effective, amendments thereto were passed, October 19, 1888, ui)on the recommendation of the Treasury Department, by which the Secretary , of the Treasury is authorized, in case he shall be satisfied that an immigrant has been allowed to land contrary to law, to cause such immigrant within a period of one year after landing or entry, to be taken into custody and returned to the country whence he came, at the expense of the owner of the importing vessel, or, if he entered from an adjoining country, at the expense of the person previously contracting fpr the service. The Secretary of the Treasury is also authorized tp pay to an informer who furnishes original information that the law has been violated, such share of the penalties recovered as he may deem reasonable and just, not exceeding 50 per centum, where it appears that the recovery was had in consequence ofthe information thus furnished. It is believed that these provisions of the law, with the appropriation to meet the necessary expenses of its proper enforcement, will be sufficient to prevent the landing of persons prohibited by the statute. Under the law as amended, a special force has been employed at the principal ports whose duty is to attend to the enforcement of its provisions. It will be observed that like provisions are recommended to be in- < serted by way of amendment to the Immigrant Act, which, if adopted,, will render these laws more effective in keeping out undesirable immigrants. NAVIGATION. The Bureau of Navigation reports a small increase during the last fiscal year in the tonnage of the country, arising from the building of vessels, chiefly for the coasting trade. The tonnage built during the previous year was 150,450 tons, while that built during the past year was 218,086 tons, comparing favorably, according to the statistics available, with the amount built during that time in Austria, Belgium, Denmark, France, Germany, the Netherlands, Italy, Eussia, and Sweden combined. The amounts in either case, however, are small as compared with the tonnage built in the TJnited Kingdom, where, on the XLII REPORT'OF TPIE SECRETARY OF T H E TREASURY. 30th of June, 1888, 377 vessels, of 608,118 tons gross, were under construction. It is useless to expect any material increase in the building of iron and steel 'Steam-vessels in this country for the foreign trade under i:)resent conditions. Were all the restrictions of the tariff removed, the business would still be hampered by the higher cost of the completed vessel as compared with the exj)ense of a similar ship built upon the Clyde or at Belfast. The tonnage of the country amounted at the close of the last fiscal year to the respectable figure of 4,191,915.77 tons, and is, likely to increase, for the reason that the decrease of the tonnage in the foreign trade is less than the increase in the tonnage built for the domestic trade, more especially upon the Great Lakes, where the business of shipping grain and ore is growing rapidly. The burdens imposed uiDon the coasting trade by Federal legislation have nearly all been removed within the past four years, with the exception of such as may arise from the present tariff. Other disabilities, springing from local legislation in regard to compulsory pilotage and taxation, should be abolished by the, States. Coasting vessels of one State are forced to compete with those of others, and to burden the former with local taxation, while the latter are exempt therefrom, is injudicious, so far as the interests of the State are concerned, and unfair to the owners of the property. INTERNAL REVENUE. The receipts from the several objects of internal taxation during the last two fiscal years, as reported by the Commissioner of Internal Revenue, are as follows: Fiscal year ended J u n e 30— Objects of taxation. Distilledspirits (... Manufactured tobacco Fermented liquors 'Oleomargarine Bank circulation Penalties, &c Oollections under repealed laws. Total $65,829.321 71 30,108,067 13 21,922,187 49 723,948 04 4,288 37 220,204 83 29,283 49 S69,306,166 41 30,662,431 52 23,324,218 48 864,139 88 4,202 55 155,547 61 9,768'87 118,837,301 06 124,326,475 32 Front the above table it ai)pears that the increase in the collections -on spirits during the last fiscal year was $3,476,844.70; on tobacco, $554,364.39; on fermented liquors, $1,402,030.99; and on oleomargarine, $140,191.84. There was a decrease of $85.82 in the receipts from INTERNAL REVENUE. XLIII bank circulation, and of $19,514.62 in the collections under repealed laws. There was also a decrease of $64,657.22 in penalties collected. It will be observed that there is a slight discrepancy between the figures representing the total receipts for the two years, as shown in the foregoing table, and the amounts covered into the Treasury by warrants. This is explained by the fact that all sums are not deposited 'during the same fiscal years.ih which they are collected. The cost of collecting the internal revenue was reduced during this year from 3.4, the cost for the year 1887, to less than 3.2. In the enforcement of the law for the collection of the tax on distilled spirits in some of the sparsely-settled portions of the country, and for the suppression of illicit distillation, the officers of internal revenue have suffered loss from the destruction, by persons operating ^unregistered stills and their lawless comrades, of their vehicles, and the killing or maimiDg of their horses, used while traveling on official duty. -Under existing laws there is no authority to reimburse the officer for the loss or damage sustained from such causes. Section 3171 of the Revised Statutes confers jurisdiction in such cases upon the United States court in a suit for damages; but this is of little or no benefit to the injured j)erson, for the reason that it is usually impossible to obtain, •evidence to sustain an action against the guilty parties. Or, if they iire discovered and convicted, they are generally so irresiDonsible, pecuniarily, that judgments recovered are entirely worthless. Sections 3482 and 3483 of the Revised Statutes provide for the reimbursement of the officer for i^roperty lost while in the military service. An enactment somewhat similar to the provisions of those sections would not only be just to the civil officers whose duties expose them, to loss and damage in x)roperty, but would encourage them in the more faithful performance of an arduous and dangerous duty. The Commissioner in his report reiterates his recommendation in previous reports, that the law be so amended as to authorize the distillation of brandy,from all kinds of fruits, under the exemptions nPw accorded to distillers of brandy from apples, peaches, or grapes exclusively, and to provide for the storage of all kinds of fruit brandy in special bonded warehouses. He also expresses the opinion, in reference to the ]3roposition to remove the tax from brandy distilled from fruit, that the additional volume of such spirits which might reasonably be expected to be produced under the inducement afforded by competition with grain and molasses spirits, taxed at 90 cents a gallon, would materially affect the XLIV REPORT OF THE SECRETARY.OF THE TREASURY. smaller producers of the latter spirits, and, by inducing illicit distillation, would present increased difficulties in the enforcement of the law* With a view to determining the practicability of methylating spirits, as a protection against fraud in the use of alcohol in the arts, free of tax, the Commissioner caused attempts to be made with the chemical apparatus in his pffice to demethylate certain spirits which had beeB methylated by the use of wood naphtha, a^ in Great Britain. The detailed report of the officer who conducted the experiments, and the report received from the inland-revenue officer in Canada, both published in the Commissioner's report, indicate that ,it is not safe to rely upon methylation to prevent frauds in the use of alcohol withdrawn from bonded warehouses, free of tax, for use in the arts. The Commissioner also again calls attention to the great disparity between the special taxes and .the tax on the article itself in the oleomargarine law, and refers to his recommendation in the matter in previous reports. In order to supply the Congress with means for a more intelligent consideration of the subject, he furnishes copies of the most important of the European laws relating to oleomargarine. He also furnishes a list of the State laws relating to the adulteration of food and drugs, together with a very full list of scientific works of interest to analytical chemists and other officers charged with the enforcement of the recent act of Congress to prevent the manufacture and sale of adulterated food and drugs in the.District of Columbia, this act having provided' that the analysis of food and drugs shall be performed under the control of the Commissioner of Internal Revenue. • I renew my recommendation to amalgamate the internal revenue and /customs systems, thereby reducing the number of officers and the expense of collecting the entire revenues. A NON-PARTISAN CIVIL SERVICE. Almost all of the subordinate service of this Department is now appointed under the civil sevice system of rules. But also five important branches of the Treasury Department are in a large measure- removed from political influences, and yet are not under what is technically known as the civil service system. They are the Coast and Geodetic Shrvey, Life-Saving Service, the Revenue-Marine, the Marine-Hospi tal Service, and the Light-House Service. Much has been gained in this regard in all ofthese branches, particularly the latter, duringthe past three years, and if their administration continues to be conducted in the present spirit it will be of benefit to the country. If the Customs and Internal CIVIL S E R V I C E — R E V E N U E - M A R I N E . XLV Revenue Services were amalgamated into one service and then made strictly non-partisan like the Revenue-Marine, it could be freed from its local character and made a general service, so that a pieculiarly efficient collector, appraiser, or other officer, could be sent to a port where his services were especially needed; and the location of these officers might be changed from time to time, thus providing an efficient check upon •each other. Such a system, if adopted, would in my judgment promote efficiency and economy. It has been tried to a small extent during the past year with very good results. REVENUE-MARINE SERVICE. The arduous and steady work of the revenue cutters has been faithfully and successfully conducted by the officers of this service during the iDast year, ahd the only drawback to a large increase in the record of duty performed-has been the disabled condition of some of the ves-^ sels which require replacement and more extensive repairs than the funds now available will allow. The following is the record of regular duty for the year ended June 30, 1888: . . Aggregate number of miles cruised by vessels '. 303, 311 Number of merchant-vessels boarded and examined 25, 552 Number of merchant-vessels found violating law in some particular and seized or reported to proper authorities 1, 026 Fines and penalties incurred by vessels so seized or reported |311, 844. 00 Number of vessels in distress assisted ;^ 526 Value of vessel's and their cargoes imperilled by the sea to which assistance was rendered 17,328,793.00 ISFumber of persons on board vessels assisted 4, 041 Sixty persons were i3icked out of the water and saved from drowning. The steamers ^^Rush^' and '^Bear'' cruised during the summer in the vicinity of the Pribylov Islands withoul^ encountering any vessels in that part of Behring Sea engaged in the unlawful killing of seals. In their visits.to other parts of the Territory of Alaska, the proper maintenance of the customs regulations of the United States was investigated and enforced. Substantial aid was given by these vessels, at the various points at which they touched, to shipwrecked seamen, destitute miners and explorers, and to the natives of the Territory; medical attendance being frequently afforded, which could be obtained from no other source. CaT)tain Shepard brought down to San Francisco, i n t h e ^^Rush,'' thirty persons whose removal from the exposed situations in which they were placed was a matter of necessity or humanity. The ^^Bear,'' underthe command of Captain Healy, went as far north as Point Barrow, and at that place took on board one hundred and sixty XLVI REPORT OF THE SECRETARY OF THE TREASURY.. persons, being the officers and crews of the whaling-barks ^^Fleetwing,'^ ^^Mary anci Susan,'' and ^'Young Phoenix," and the schopners ^^ Jane^ Gray," and ^^Ino," that had been wreck,ed in a violent gale. Some of these unfortunate seamen were transferred to other vessels of the whaling fleet, but one hundred and eight were conveyed by the '^Bear" tO' San Francisco. , The great danger attending whaling in the Arctic, on the west coast of this country, should lead the United States to render all the assistance in its power to shipwrecked mariners in those regions. Much assistance could be afforded by a staunch revenue steamer cruising along the coast each year during the whaling season. This duty, as well as any emergent service cannot be met by the " B e a r " in her present condition, and a provision of $25,000 to strengthen and. repair this vessel is recommended. Material assistance has been given, as customary, by the officers and vessels of this service, to the Life Saving Service. The distance cruised while performing this duty aggregated 13,045 miles. The expenditures of the Revenue-Cutter Service for the year 1888< were abPut $912,000. LIFE-SAVING SERVICE. The number of life-saving stations in commission at the close of t h e year was 222. With the extension of the Service the number of disasters falling .within its scope has correspondingly increased. The success of its operations, however, has in nowise abated. The Service has continued, to improve its methods and appliances,, and this year offers a record excelling any heretofore iDresented.. More lives and property wxre involved in disasters than in any former year, while the loss of both is^ in proportion less. There were ^luring the year 411 disasters to documented vessels. Onboard these vessels there were 3,653 persons, of whom 3,B41 were saved, and 12 lost. The number of shixDwrecked persons succored at the stations was 743, and they received 1,898 days relief in the aggregate. The value of property involved is estimated at $9,555,285; of this $7,776,405 was saved, and $1,778,880^ lost. The number of vessels totally lost was 71. In addition' to the foregoing, there were 133 disasters to smaller craft, such as sail-boats, row-boats, &c., involving the lives of 297 persons, of whom 292 were saved, and 5 lost. The property involved in these instances is estimated at $197,935) of which, $190'255'were savedy •and $7,680 lost. . . ' . . LiiFE SAViNfi—MARINE HOSPITAL. XLVII The aggregate is as follows: Total number of disasters l Total value of property involved '. Total value of property saved Total value of property lost .*... Total number of persons involved Total number of persons lost "^Total number of shipwrecked persons succored at stations Total number of days succor aiforded Number of vessels totally lost 544 $9,753,220 ^7,966,660 | 1 , 786, 560 i... 3, 950 J 17 743 1, 898 :.. 71 Thirty-seven persons not included in the above were rescued, who had fallen from wharves, piers, &c., and would j)robably have been lost but for the help of the life-saving crews. The assistance rendered in saving vessels and cargoes has been greater than ever before, 492 vessels having been wprked off when stranded, rej)aired when damaged, piloted out of dangerous, places and similarly aided b y t h e station crews. There were also 229 instances, in which vessels were warned off by the signals of the patrolmen when in danger of stranding. The cost of the maintenance of the Service during the year was $928,213.03. \ I . Four new stations were established and put in operation during the year: one at Cape Elizabeth, Maine; one at Jerry's Point, E'ew Hampshire; one at Cape Lookout, IsTorth Carolina; and one at Yelasco, Texas. ContTacts have also been entered into for the construction of stations at Point Allerton, Massachusetts; Metompkin Inlet, Virginia; .Oak Island, IsTorth Carolina; Fort Point, near Galveston, Texas; and Michigan City, India^na. Several of these are now building and all will probably be completed within the current fiscal year. Eight of the older stations have been rebuilt since the last report—at I^arragansett Pier, Point Judith, and ^New Shoreham, Rhode Island; JSTapeague and Far Rockaway, Long Island; and at Bond's,Sea,Isle City, and Hereford Inlet, J^ew Jersey., The stations;at Great Egg Harbor, I^ew Jersey, and at Sheboygan, Wisconsin, are also being re' built. Twelve stations upon different portions of the coast have re-^ ceived extensive repairs and alterations. The telephone servicp heretofore established between a number of the stations, having proved of great benefit, has been extended during the year, so that now a large portion of the IsTew Jerse^^y Delaware, Yirginia, and IsTorth Carolina coasts are provided with this advantage. Preliminary survej^s and estimates have also been made with a view • of iestablishing it upon Long Island. MARINE-HOSPITAL SERVICE. The Supervising Surgeon-General of the Marine-Hospital Service reports that during the year just passed there have been treated^ XLVIII REPORT OF THE SECRETARY OF THE TREASURY. '43,203 patients, which is the greatest number* of patients furnished relief in any year sinee the organization of the Service. The receipts from all sources were $49B,441.69, and the expenditures were $528,844.66, which amount was paid from the unexpended balance to the credit of this appropriation in the Treasury. Better facilities for laboratory work and more room for storage* purposes have recently been secured by the removal of the Bureau from 1419-1421 G street, IS^. W., to 1306-1308 F street, JST. W., the Departnient having leased the latter-named premises. The lease began July 1,. 1888, but, owing to the necessity of making repairs and alterations in the building, the store-room 1314 F street was occupied temporarily as a store-room and laboratory. The new location of the Bureau is a marked improvement over the old, but the necessity still remains for a building specially designed for the uses of the several divisions. The Surgeon-General also recommends that a special laboratory for bacteriological work be established at this Capital. A full statement of the sanitary work of the Bureau is made in his report. The passage of the law providing for the maritime quarantine stations is a great advance on previous legislation, and will greatl}^ improve the sanitarv defenses of the country. A circular has recently been issued by the Bureau concerning the treatment of foul ships, which it is believed will, in the course of time, make a clean oceangoing fleet, as the extraordinary disinfection required in case of the second appearance of a vessel at one of our ports in a foul and unsanitary condition is, in effect, a penalty upon her. The history of the. calainitous epidemic of yellow fever in Florida is included in his report, and it gives me pleasure to state that the officers ofthe MarineHospital Service have performed the delicate duties intrusted to them with courage, skill, and enthusiasm. The depopulation of Jacksonville was mainly effected by means of the establishment of a refuge camp, the Surgeon-General proceeding to Florida for that purpose. It is believed that the new legislature of Florida will pass a law creating a State board of health, which will obviate many of the difficul- ties contended with during the management of this epidemic, as it has been difficult to cooperate with so many boards of health, each having different regulations, scattered as they were throughout the State. For the prevention of the spread of the disease from one State to another, fumigation and inspection stations were established by regulations of August 28, which have required little modification to the present time. It is my opinion that interstate commerce should be so regulated as to strip railroads and other common-carriers of their power to convey disease from one State to another, and that the regu- STEAMBOAT XLIX INSPECTION. lations to be framed in accordance with such law should be enforced by national authority. I transmitted a draft of a bill to the chairman of the Senate Committee on Epidemic Diseases, which was introduced (Senate 3467), but as yet no action has been had upon it. The passage of the bill seems to me a public necessity. The Surgeon-General recommends the establishment of hospital^ buildings at l^ew York and Philadelphia, and that an additional medical officer be detailed for his office. STEAMBOAT INSPECTION SERVICE. Thepersojinel of the Service on the 30th of June, 1888, was composed of 148 officers, clerks, and messengers, as follows : One Supervising Inspector-General, ten supervising inspectors, thirty-eight inspectors of hulls, ten assistant inspectors of hulls, thirtyeight inspectors of boilers, eleven assistant insi)ectors of boilers, one assistant inspector for the examination of life-preservers, ten special inspectors of foreign steam vessels; one chief clerk, three clerks, and one .messenger to the Supervising Inspector-General; one clerk to the«. supervising inspector at ISTew York, twenty-two clerks to local boards of inspectors, one clerk to the special inspectors at iSTew York, Additions have been made to the personnel ofthe service during the year, as follows: An assistant inspector of boilers appointed for the district of Boston, Mass., and a clerk appointed to the local board of inspectors at Pittsburgh, Pa. There was discontinued during the year the office of assistant inspector at Pittsburgh, Pa. The office of Supervising Inspector-General, supervising and local inspectors of steam-vessels, &c., are organized under the act of Congress approved February 28, 1871, now Title 52, Revised Statutes. The special inspectors of foreign steam-vessels are organized under the amendment to section 4400, Title 52, Revised Statutes, approved • August 7, 1882. STATISTICS OF THE SEEVICE FOR THE FISCAL YEAR ENDING JUNE 30, 1888. Table giving the statistics for the different divisions of the country. Divisions. Pacific coast A t l a n t i c coast Western rivers Northern lakes..... Gulf coast Total , Steamers inspected. Net tonnage. Officers licensed. 488 2,880 1,043 1,576 438 127,029.11 47S>934.14 181^524.56 380,498.49 67,148 32 2,27S 12,081 6,250> .6,502 2,435 6,425 1,235,134.62 29,541 I. REPORT OF THE SECRETARY OF THE TREASURY. RECAPITULATION. Total number of vessels inspected Total tonnage of vessels inspected .^. Total number of of&cers licensed Increase in number of vessels inspected over preceding years Increase in tonnage of vessels inspected from preceding year. Increase in number of ofiicers licensed over preceding year ^ 6, 425 1,235 134.62 29, 541 305 74, 858. 35 1, 553 Expendiitures. .Salaries Supervising Inspector-General, supervising, local, and assistant inspectors, and clerks, paid from funds in the Treasury not otherwise appropriated, acts J u l y 19, 1886, and April 4, 1888 (appointments .authorized by sections 4402, 4404, and 4414, .Revised Statutes) |218, 563 30 Contingent Expenses. Traveling and miscellaneous expenses | 3 3 , 267 Clerk, messenger, and room rent for board meeting 222 stationery for supervising and local inspectors 859 Engraving, printing and binding licenses 1, 861 New instruments .• 118 JReconstructing three testing machines. 805 Expense ofstenographer, investigation held at New York.. 800 Marshal and witness fees 658 75 00 17 80 20 99 08 30 ^ $38, 593 29 Total expenditures for year 257,156 59 ' While the above statement shows an increaseof $1,850.16 over the '<expenses of the preceding year, the total of such expenses is $1,522.07 less than the average annual expenses of the service during the 17 years existence of the present steamboat laws, and $7,,990.63 less than the :average of the first 5 j^ears the laws were in operation, namely., 1871 to 1875 inclusive, when the average number of steamers inspected was but ^,804, as against 6,425 steamers inspected during the fiscal year embraced in this report. As under the acts of Corigress, approved June 19, 1886, and April 4, 1888, the exi)enses of the steamboat inspection service are to be paid from the indefinite apj^ropriation of the surplus revenues in the Treasury, instead of from the permanent appropriation of funds collected from fees for inspection of steam-vessels and licensing officers of such vessels, as provided in section36§9, Revised Statutes, itis recommended that Congress enact a law to cover the unexpended balance of such fund .$218,913.17 into the general treasury, so that the accounts of the steaml3oat inspection service in regard to it may be closed. STEAMBOAT INSPECTION. Ll CASUALTIES. Total numher of accidents during the year resulting in loss of life. Number. Cause. Fire Collisions Breaking of steam-pipes and mud-drums. Explosions Snags, wrecks, and sinking 5 12 Total Total numher of lives lost by accident from various causes during: the fiscal year ended' June 30, 1888. Lives lost. Cause. 15 54 13 54 57 Fire f Explosions or accidental escape of steam Collisions Snags, wrecks, a n d s i n k i n g Accidental drowning Miscellaneous 9i Total Number of lives lost in 1887 Number of lives lost in 18S8 Decrease in 1888 220 202 Of the number of lives lost, as above reported, 85 were passengers a-nd 117 were officers or persons emx)loyed on the steamers. The loss of life during the past fiscal year, besides being less than in the year previous, is less than the average annual loss for the decade, terminated by the year, the average being 213, while the current year's loss is but 202. The annual average loss of life for the past 4 years has been but 184. The following comparative statement of the work of the Steamboat Inspection Service for the last 30 years, divided into decades, giving the average of each, shows a gratifying progress in the efficiency of the officers of the Service, in carrying into effect the acts of Congress to prevent the loss of life on yessels propelled in whole or in part by steam: • Term—Decade. A v e r a g e anti u a l number steamers. Average annual loss of life. N u m b e r of s t e a m e r s p e r e a c h life Average number passengers carried. 1,687 3,645 5,344 721 365 213 2.34 9.98 25.008 100,000,000 300,000,000 500,000,000 1859-1868 1869-1878 1879-1888 lost. LII REPORT OF THE SECRETARY OF THE TREASURY. Inspection_of foreign passenger steam-vessels under ihe act of Congress apiproved August 7, 1882. Annual inspection— At New York 132 At Boston 14 At Philadelphia (including 7 inspections on the lakes) 17 At Baltimore (including 49 inspections on the lakes) -. 66 At New Orleans , 10 At San Francisco 13 Total Intermediate inspections 252 1, 964 , The expenses of the foreign service have been : Salaries Traveling ahd miscellaneous expenses $21,500 00 790 23 'Total The expenses of the previous year were 22,290 23 22, 967 09 V Decrease for current year |676 86 LIGHT-HOUSE SERVICE. The Light-House Board reports the changes in the aids to navigation as shown in the following table: J u n e 3( 1887. Light-houses, light-ships, and stake-lights, including those on the rivers New lights of all kinds established during the year... , Lights discontinued during the year Unlighted beacons Steani and hot-air fog-signals Fog bells Whistling-buoys in position Bell buoys in position Lighted buoysi in position '. Other buoys in position...., ,..,... J u n e 30, 1888. Increase. 2,030 2,226 196 75 38 361 77 140 44 51 4 3,791 204 129 Decrease. 30 152 47 60 4 3,971 The Light-House Board states that the Pacific Coast is insufficiently lighted, and suggests that considering its present and increasing commerce, it should be supplied with every aid to navigation which can be consistently given. • . . The Board also calls attention to the great heed of a light-house on the outer shoal off Cape Hatteras, which it styles one of the most dreaded dangers on the American coast. It gives a copy of each of the papers before it in. reference to this subject in an appendix to its Annual Report. This matter is commended to the early attention of the Congress. It also recommends additional legislation relative to the lighting of bridges over navigable streams. It points to thefact that while the LlGHTrHOUSE—COAST SURVEY. LIU Board is required to issue regulations for lighting such bridges, that no penalty is prescribed in case of non-compliance with its regulations.' It instances the case of the bridge between Brooklyn and E'ew York City, in which the Department of Justice decided that it was not i)racticable to bring an action against the trustees of the bridge for failure to comply with the regulations, on the ground that the law prescribed no penalty for non-compliance with its provisions. It would seem that the Board should be relieved from the responsibility of regulating the lighting of such bridges, or that such change should be made in the law as would provide for its enforcement. In this connection attention is called to the necessity for taking spme legislative action to regulate private electric lights, on piers and other structures at the waters' edge, which dazzle the eyes of pilots, and endanger shipping in those waters. The Board continues to call attention to the necessity for the prohibition of private lights and i^rivate buoys in TJnited States waters, and for some provision by which it shall be enabled to establish temporarily, and pending the action of the Congress, such inexpensive lights as unforseen emergencies shall make* necessary. The Board is now held responsible by public opinion for the proper care of lights over which it has no control, and complaint has been made of the failure of private lights, which mariners naturally suppose are maintained by the Government. The Board suffers from a lack of adequate facilities for inspecting, maintaining, and repairing the 968 lights on our coasts. The small steam-tenders provided for these purposes are becoming worn out from long and hard usage, and are not being replaced as rapidly as they are ^ needed. Two such tenders have become utterly useless and are beyond/economical repair. It is recommended, therefore, that the Board^s request that appropriations be made to replace the ^^Putnam'' and the ' ^^ Warrington" receive prompt and favorable consideration. COAST AND GEODETIC SURVEY\ During the past fiscal year, every branch of the work made active progress to the fnll extent of the means afforded by the appropriations. Surveys involving triangulation and topography, astronomical and magnetic determinations and observations for the value of gravity, were carried on within the limits or upon the coasts of twenty-one States, three Territories, and in the District of Columbia. Hydrographic surveys, including observations of tides and currents, off-shore and inshore soundings, observations of ice movement, and researches in i^hysical LIV REPORT OF THE SECRETARY OF THE TREASURY. hydrography relating to harbors and bars, were, prosecuted in the waters or off the coasts of fifteen States and two Territories. The necessity for connecting the extended series of triangulations of the Survey w;ith other works of similar character, carried on by independent organizations and methods, was not lost sight of. IJpon the northeastern coast of Maine the connection of the Island of Grand Manaii with the primary triangulation, and the advance towards completion ofthe triangulation. ofthe St. Croix River, will ultimately join the^ Coast and Geodetic Survey with the surveys of the Dominion of Canada. In Wisconsin, the Geodetic operations in progress have effected another junction with the work of the IJ. S. Lake Survey, one having been previously made by the triangulation crossing the State of J^ew York. In Indiana and Illinois, the transcontinental triangulation advancing eastward near the thirty-ninth parallel has been connected with the second and third principal meridians of the General Land Office. The accurate determinittions of geographical positions made in the i)rogress ofthe work, according to the most approved methods of modern geodesy, whether on the coast or in the interior, continue to be freely communicated to the Geological*Survey, and serve to check the. approximate positions obtained in the course of its preliminary triangulations. Among the more important field operations of the year may be mentioned the combined observations of precise leveling and direction and velocity of currents for ascertaining the successive tidal levels in ISFew York Harbor, and the relation of the under-run of the Hudson River to 'New York Bar ; the continuation of the study of ice formation and movement in Delaware River and Bay; the prosecution of the explorations of the Gulf Stream ; the advance towards completion of the triangulation needed to extend the oblique arc of the meridian from 'Calais, Me., to Mobile, Ala., and to unite the triangulations ofthe Atlantic and Gulf Coasts ; the extension of the line of transcontinental leveling from the Mississippi River to Little Rock, Ark.; shore-line resurveys of important harbors on the Pacific Coast; determinations of gravity at San Francisco, Mount Hamilton, CaL, and Washington D. C , in conn ection with similar determinations made on the the Hawaiian Islands, and progress made in the surveys of harbors and channels in Southeastern Alaska. The special triangulation asked for by the Commissioners of the Topographical Survey of the State of Massachusetts was continued; geodetic operations, in cooperation with State geological or toiDOgraphical surveys, were carried on in the States of Pennsylvania, New Jersey, • COAST SURVEY. • LT' Tennessee, Indiana, Wisconsin, Arkansas, and Minnesota, additional determinations of geographical positions were made by the longitude parties on the Pacific slope. By direction of the Secretary of theTreasury, and on the request of the Attorney-General of the United States, for the use of the Government in the Potomac-Flats litigation, and for the sake of xDreservin^ the record of the early maps, already seriously injiired by time, the Survey prepared and published an edition, in fac simile, ofthe original ^^L'Enfant P l a n ' ' of the City of Washington (1791), and a reproduction of the ^^L'Enfant Plan," with the obliterated lines and faded colors restored; an edition of the ^^Dermott M a p " of Washington (1798), and an edition of.the '^King P l a t s " of AVashington (1803). By direction of the Secretary of the Treasury, and on the request of the Secretary of State, a special examination and survey Avas made of the boundarj^-line between the TJnited States and Canada, in the vicinity of Burnt Island, Lake Huron. In cooperation with the District Commissioners unusually rapid progress was made in the detailed topographical survey of the District; ofColumbia. By direction of the Secretary of the Treasury, and on the request and at the expense of the Hawaiian Government, observations for the determination of latitude and gravity were made on the Hawaiian Islands by an officer of the Survey who was granted leave without pay for that purpose. Measurements were made upon British admiralty charts of t h e waters involved in the recent fisheries negotiation with the Government of Great Britain, and memoranda and a large display-map relating to the same were supplied for reference during the discussion of the Fisheries Treaty by the Senate. In the office special attention was given to the prompt publicationi of results of immediate value to the interests of commerce and navigation. Discoveries and developments made in the progress of t h e hydrographic operations were published in the form of Notices to Mari-^ ners. Fifteen of these notices were issued during the year, and 35,500 copies w^ere printed for distribution. Corrections made to charts arepublished in monthly editions of these notices; also lists of new charts.> and new editions. Tide Tables, predicting for 1889 the times and heights of high and low water at all ofthe i)rincipal ports on the Atlantic and Pacific coasts* were published; also a new Catalogue of Charts and a new volume of the Atlantic Local Coast Pilot, covering the coast from Tybee Roads to> LVI REPORT OF THE SECRETARY OF THE TREASURY. Jupiter Inlet. A fourth edition of the Pacific Coast Pilot was pre-, pared for the press. There were published 35 new charts, 12 of whichwere from engraved plates and 23 from photolithographs. Ten new editions of charts were published from engraved plates, and 15 new editions (including feprints) from i^hotolithographs. Thirteen index maps to the charts of the Survey were engrave^ on stone; an edition of these maps forms part of the new Chart Catalogue. The whole number of charts printed during the year was 42,312, an increase of nearly 5,000 over that of the year preceding. Of this number 30,784 were from engraved plates and 11,528 from photolithographs. Distribution was made of 41,327 copies of charts, 8,235 of which were for the use ofthe Executive Departments, 2,483 for Congress, and 25,278 . for sale agents. Of the annual reports for various years 1,152 copies were distributed. TJnder the designation of Bulletins, the publication was begun of a series of papers, intended to appear from time to time, as material for them accumlates, and to give early announcement of work accpmplished or information of importance obtained. Two of these Bulletins have been published, and three more are ready for the printer. A desire for the utmost efficiency in the work ofthe Survey, and for its economical administpation, has led during the past few years to a careful preparation of itemized estimates upon a basis adjusted to meet the demands fpr its extension and development which come from various localities throughout the country. These estimates, when approved by the Department, should, it is urgedj receive also the sanction of Congress. ENGRAVING AND PRINTING. The work turned out by the Bureau of Engraving and Printing during the last fiscal year exceeded the production of any previous year in its history. There were printed and delivered to the various offices h j which they are used, 38,040,984 sheets of securities, an increase of 5,388,777 over the production of 1887, and exceeding the output of any former year by 4,710,238 sheets. A comparison of the results for the three years ending Juhe 30', 1888, with those for the three preceding fiscal years, shows an increase in production of 5,594,336 sheets of securities, and a decrease in expense of $540,802.18. Of the appropriations made for the support of the Bureau for the last four years, balances amounting to° $270,840.84 have been returned to the Treasury unused. ENGRAVING AND P R I N T I N G — P U B L I C BUILDINGS. LVIl' There were printed during the last year 8,147,000 sheets of silver certificates of the series of 1886. Of this amount $14,308,000 consisted of one:dollar certificates, and $10,552,000 of two-dollar certificates. To October 31, 1888, there had been delivered to the Treasurer of the TJnited States $30,652,000 in one-dollar certificates, and $20,304,000 in two-dollar certificates. The great increase in the work of the Bureau during the last two years has made it necessary to increase the number of plate printingpresses operated by steam-power. The new presses have been used to print the green backs of the silver certificates and TJnited States notes and certain varieties of internal-revenue stamps. Their use has resulted in a great economy of expense and room, and the quality of the securities printed by them has been satisfactory to the officers of the Department, by whom theyare used, and no complaint has been heard from the general public. By the executive order of June 29, 1888, iall of the places inthe Bureau of Engraving and Printing, except the watchmen and the lowest grade of laborers, were brought within the classified civil service, to be, filled only by selection from candidates standing highest in the civil service examinations, and certified for employment by the Civil Service Commission. This change in the method of selection for employment caused at once an almost complete cessation of the importunity for place, and it is not doubted that it will result in an improvement in the qualifications of the persons entering this important branch 'of the public service. PUBLIC BUILDINGS. During the year work was commenced on nineteen new buildings, and uiDon three buildings where extensive repairs were specially appropriated for. Of the new buildings commenced, seven were provided for by legislation of the session of the Congress just closed, and, but for the fact that many of the appropriations have only lately become available, a greater number of buildings would have been under way. In addition to legislation extending the limits of cost of buildings already under construction, rendering necessary the preparation of new drawings, &c., Congress directed the erection and extensive repairs of forty-one buildings. ^ • An agent of this Department is now visiting the various points to select the most suitable sites, thus providing for the commencement of operations in the Spring. ' "^ork has been so actively prosecuted, and such satisfactory terms' secured, that of the seventy-five buildings under construction during LVIU REPORT OF THE SECRETARY OF THE TREASURY. ^ the past year, nineteen have been completed, with every indication thatj before the close of the calendar year, this number will be in-' creased to twenty-three, and, under the terms of existing contracts, fourteen more will be completed before the close of the current fiscal year, making in all thirty-seven buildiDgs that will be comiDleted before June 30, 1889. In addition to the work of construction, and special repairs, this Department has under its control neai% two hundred and fifty buildings completed and occupied, to be cared for from the annual appropriation for ^^Repairs and Preservation," '^Vaults, Safes, and Locks," and /^Repairs to Heating Apparatus," involving a total expenditure of $3,914,248.25, which is fully accounted for in the report of the Supervising Architect of this Department, as follows: ^ The total expenditures during the year for sites, construction of new buildings and repairs speciaUy appropriated for | 3 , 414, 057. 63 Repairs and preservation of completed buildings 206,190.16 Heating apparatus, buildiugs under construction 140, 861. 74 Heating apparatus, repairs in completed buildings 103, 077. 42 Vaults, safes and locks, completed buildings 47, 937. 43 Plans, &c 2,123.87 In nearly all cases, where the appropriation has permitted such action, the Department has included the entire work of the erection and completion, of the building under one contract, and has by this method simplified the records and accounts, secured a more rapid prosecution of the work, and removed the plea so often made that the work of one contractor was delayed by the slow progress made by another. The most active competition in bidding has been secured by a greater publicity given to the advertisements, and in enlisting the co-operation of the building exchanges throughout the country. The work on all the buildings now under construction has been adapted to the limits of cost placed by Congress, and unless some incident, now unforseen, axises, no request will be made for deficiency appropriations for the prosecution of work. * HALL OF RECORDS. I again call attention to the necessity for the construction of a fireproof building suitable for the storage of the files and records of the several Departments.' Year by year valuable papers and records are crowded into unsafe and almost inaccessible places, and serious damage and loss must ulti, mately follow. I earnestly urge the matter upon the attention of the Congress. DISTRICT OF C O L U M B I A — R E P O R T S . LIX DISTRICT OF COLUMBIA. The net expenditures on account of the District of Columbia for the 'fiscal year 1888 were $4,278,113.48. The revenues deposited in the Treasury on this account for the same period were $2,650,350.31. During the fiscal year 1888 there has been issued in payment for judgments of the Court of Claims $53,400 of the 3.65 per cent, bonds. There has been retired through the operations of the sinking-fund, $353,000 of the bonded indebtedness of the District, making a net reduction of $299,600, and reducing the amount annually required for interest $18,753.50. The issue of the 3.65 per cent, bonds is limited by law to $15,000,000.* The total issue, to the close of the fiscal year 1888, was $14,636,750. Since the duties ofthe commissioners ofthe sinking fund ofthe District of Columbia were devolved on the Treasurer of the TJnited States by the act of Congress of June 11, 1878 (20 Stat., 106), the bonded debt of the District has been increased $893,500, by the issue of 3.65 per cent, bonds in exchange for certificates of the board of audit and in payment for judgments ofthe Court of Claims. Also, by the issue of $1,092,300 Twenty-year 5 per cent, funding bonds to replace maturing indebtedness. There has been retired during the same period $3,511,000 ofthe bonded debt, making a net reduction of $1,525,200, reducing the annual interest charge $109,516.72. \ , The amount realized fix)m the sale of bonds in which the 10 per cent, retained from contractors with the District of Columbia was invested, as required by the act of June 11, 1878, exceeds the.sum necessary to pay the amounts originally withheld. The net surplus at the close of the fiscal year 1888 was $25,966.42, and has been deposited in the Treasury as a miscellaneous receipt to the credit of the TJnited States and District of Columbia in equal parts, as required by the act of February 25,1885. Detailed information in regard to the affairs of the District of Columbia will be found in the reports to be submitted by the District commissioners, and by the Treasurer ofthe TJnited States as ex-officio commissioner of the sinking-fund of the District. REPORTS OF HEADS OF OFFICES, &C. The several reports of the heads of offices and bureaus are herewith transmitted. An inspection of these reports will show that the business, of the Government has been kept well in hand, that the arrears which the present officers found have been cleared away in most of their bureaus, and that important reforms have been made in the interest of economy and efficiency. These officers are entitled to re LX ' REPORT OF THE SECRETARY OF THE TREASURY. spect and honorable mention for the zeal and faithfulness with which they have served the public. I wish also to express my high appreciation of the ability and fidelity shown by the great bulk of the officers, clerks, and employes of the Department, both those who have been long in the service and those who have been appointed under this administration. With few exceptions, all have worked harmoniously together to promote the public weal. CHARLES S. FAIRCHILD, Secretary of the Treasury, The Honorable T H E SPEAKER OF T H E H O U S E OF REPESENTATIVES. TABLES.ACCOMPANYING THE REPORT ON THE FINANCES. LXI T A B L E A.—STATEMENT OF T H E OUTSTANDING P R I N C I P A L OF T H E P U B L I C D E B T O F T H E U N I T E D STATES, J U N K 30, Length of loan. 1888. When redeemable. Rate of in- atPrice author Amount outwhich Amovint Amount issued, terest. ized. standing. sold. On demand . 5 and 6 per cent. OLD DEBT. For detailed information in regard to the earlier loans embraced under this head, see Finance Report for 1876. Indefinite. $151, 920.26 TREASUKY NOTES PRIOR TO 1846. • Acta of Octoher 12, 1837 (5 Statutes, 201); May 21, 1838 (5 Statutes, 228); March 2,1839 (5 Bta.t;utes, 323) ; March 31, 1840 (5 Statutes, 370); February 15,1841 (5 Statutes, 411); January 31,1842 (5 Statutes, 469); August 31,1842 (5 Statutes, 581); and March 3,1843 (5 Statutes, 614). 1 and 2 years 1 and 2 years from date. ^^o of 1 to 6 per cent. Par. $51,000,000.00 $47, 002, 900. 00 (t) 1 year 1 year from date. 1^ of 1 to 5 | per cent. Par. 10, 000, 000.00 7, 687, 800.00 (t) 5 years from date. 5 per cent.., P a r . 320, 000. CO 303, 573. 92 (t) 23,000,000.00 *26,122, 100.00 (t) Indefinite. 52, 778, 900.00 (t) Indcfinite. 233, 075.00 TREASURY NOTES OF 1846. Actof July 22, 1846 (9 Statutes, 39) MEXICAN I N D E M N I T Y . Actof August 10,1840 (9 Statutes, 94) ». , 5years TREASURY NOTES OF 1847. A c t o f Jan uary 28,1847 (9 Statutes, 118) , TREASURY NOTES*OF 1857. A c t o f December 23,1857 (11 Statutes, 257) 1 and 2 j^ears 1 and 2 years from date. 5 | and 6 per cent. Par. 1 year from date. 3 to 6 per cent. Par- 1 year BOUNTY-LAND SCRIP. Actof Febraary 11,1847 (9 Statutes, 125) LOAN OF 1847. Act of January 28,1847 (9'Statutes, 118) TEXAN I>iDEMNITY STOCK. A ct of September 9,1850 (9 Statutes, 447) LOAN OF 1858. Actof June 14, 1858 (11 Statutes, 365) • * Including reissues. 1 Indefinite .. A t tho pleas- 6 per cent-.. ure of the Government. 20 years 14 years 15 years J anuary 1,1868 January 1,1865 January 1,1874 tIncluded in "old debt." 6 p e r c e n t . . . li to 2 percent, prem'm. 5 p e r c e n t . . . Viir O o •d 23, 000, 000. 00 t28, 230, 350. 00 10,000,000.00 5, 000, 000. 00 5 p e r c e n t . . . A rerage 20,000,000.00 20, 000, 000.00 prem'm of 'dio'ot Including conversion of Treasury notes- (t) C3 1-3' 1, 250.00 20, 000.00 2, 000. 00 tr" TABLE A.—STATEMENT OF T H E OUTSTANDING P R I N C I P A L OF T H E P U B L I C D E B T , ETC.—Continued, Length of loan. . When redeemable. Rate of interest. Price authorAmount outat which Amount Amount issued. standing. ized. sold. Jan. 1,1871. 5 per cent.. Par LOAN OF 1860. A c t o f J u n e 22, 1860 (12 Statutes, 79) '. = 10 years LOAN OF FEBRUARY, 1861 (1881s). Act of February 8, 1861 (12 Statutes, 129) t o $21, COO, 000. 00 $7, 022, 000. 00 $10, 000. 00 10 or 20 years Dec. 31,1880. 6 per cent... (Av.)89.03 25, 000, 000. 00 18,415,000. 00 6, 000. 00 35, 364, 450. 00 2, 500. 00 - OREGON W A R DEBT. Actof March 2, 1861 (12 Statutes, 198) 60 days or 2 60 days or 2 6 per cent... P a r t o Indefinite yeai-s after years. liVffPer date.. ct. pr'm. 20 years . July 1,1881.-.- 6 per cent._.. P a r - 20 years . After J u n e 30, 1881. — 2, 800, 000. 00 CO o 1, 090, 850. 00 3,700.00 LOAN OF J U L Y AND AUGUST, 1861. The act of July 17, 1861 (12 Statutes, 259), authorized tho issue of $250,000,000 bonds, with interest at not exceeding 7 per centum per annum, redeiemable after twenty years. Tho act of August 5, 1861 (12 Statutes, 3IC), 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 df July 17,1861. 6per cent.., 250, 000, 000. 00 189,321, 350.00 91,100. 00 *60,030, 000. 00 56, 807. 50 LOAN OF J U L Y AND AUGUST, 1861. Continued at 3^ per cent, interest, and redeemable at the pleasure of the Government. OLD DEMAND NOTES. Acts of July 17, 1861 (12 Statutes, 259); August 5, 1861 (12 Statutes, 313); February 12, 1862 (12 Statutes, 338). O w. TREASURY NOTES OF 1861. Actof March 2, 1881 (12 Statutes, 178) o WH ct. pr'm. Indefinite... At the pleas- 3^ per cent. ure of the Government. Par. Indefinite... On demand . . . None Par 60, 000, 000.00 ^' SEYEN-THntTIES OF 1861. A c t o f July 17,1861(12 Statutes, 259) „. = „.. = .„ FIVE-TWENTIES OF 1862. W Acts of February 25,1862 (12 Statutes, 345), March 3,1864 (13 Statutes, ° 13), and January 28, 1865 (13 Statutes, 425). M 139,999,750.00 10,800.00 5 or 20 years. M a y l , 1867... 6 per c e n t . . . Av.pre.of 515, 000, 000. 00 514,771,600.60 254, 750. 00 3years.-.- = . Aug:. 19 and 7j% per cent. Av.pre.of Indefinite. Oct. 1, 1864. LEGAL-TENDER NOTES. t o The act of February 25, 1862 (12 Statutes 345), authorized the issue of $150,000,000 United States nbtes, not bearing interest, payable to bearer at the Treasury of the United States, and of such denominations, not less than five dollars, aa the Secretary of the Treasury might deem expedient, $50,000,000 to be applied to the redemption of aemand notes authorized by the act of July 17, 1861; these notes to be a legal tender in paymenfes^f all debts, public and private, within the United States, except auties on imports and interest on the public debt, and to be exchangeable for six per cent. United States bonds. The act of July 11,1862 (12 Statutes, 532), authorized an additional issue of $150,000,000 of such denominations as the Secretary of the Treasury might deem expedient, but no such note should be for a fractional part of a dollar, and not more than $35,000,000 of a lower denomination than five dollars; these notes to be a legal tender as before authorized. The act of March 3, 1863 (12 Statutes, 710), authorized an additional issue of $150,000,000 of Buch denominations, not less than one dollar, as tbe Secretary of the Treasury might prescribe; which notes were made a legal tender as before authorized. The same act limited the time in which the Treasury notes might be exchanged for United States bonds to July 1, 1863. The amount of notes authorized by this act were to be in lieu of $100,000,000 authorized by the resolution of January 17, 1863 (12 Statutes, 822). Indefinite... On demand. None - Par. 346,681, 016. 00 450, 000,000.00 o > o o 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). Indefinite. After ten days' 4, 5, and € notice. per cent. Par. 150,000, 000.00 716, 099, 247.16 2, 960. 00 1 year. 1 year after 6 per centdate. Par. No limit 561, 753, 241. 65 4,000.00 CERTIFICATES OF INDEBTEDNESS. Acts of March 1, 1862 (12 Statutes, 352), May 17, 1862 (12 Statutes, 370), and March 3, 1863 (12 Statutes, 710). FRACTIONAL CURRENCY. Acts of J u l y 17,1862 (12 Statutes, 592), March 3, X863 (12 Statutes, 711), and June 30, 1864 (13 Statutes, 220). Indefinite... On presentation. * Including reissues, None , Par. 50,000,000.00 *368,720,079.51 % 9^2, 643,82 X TABLE A.—STATEMENT OF THE OUTSTANDING PRI^CIJ^AL of TH4: ?ui3Lic t)EBt, Etd.—Continued. L e n g t h of loan. W h e n redeemable. R a t e of interest. Price a t w h i c h IA m o u n t author A m o u n t i s s u e d ized. sold. < A m o u n t outstanding. L O A N O F 1863. T h e acL of M a r c h 3, 1863 (12 S t a t u t e s , 709), a u t h o r i z e d a loan of 17 y e a r s . . . . J u l y 1,1881 . . 6 p e r c e n t . . , A v e r a g e premi$900,000,000, a n d t h e i s s u e of b o n d s , w i t h i n t e r e s t n o t e x c e e d i n g 6 u m of p e r c e n t u m p e r a n n u m , a n d r e d e e m a b l e i n n o t less t h a n t e n n o r m o r e t h a n f o r t y y e a r s , p r i n c i p a l a n d i n t e r e s t p a y a b l e i n coin. T h e a c t o f J u n e 30,1864 (13 S t a t u t e s , 219), r e p e a l s t h e a b o v e a u t h o r i t y , e x c e p t a s t o t h e $75,000,000 of b o n d s a l r e a d y a d v e r t i s e d for. B o n d s of t h i s l o a n c o n t i n u e d a t 3^ p e r c e n t , i n t e r e s t , a n d r e d e e m a b l e I n d e f i n i t e . . A t t h e pleasure] i>^ p e r c e n t . . P a r . of t h e Gova t t h e p l e a s u r e of t h e G o v e r n m e n t . ernment. O N E - Y E A R N O T E S O F 1863. $75,000,000.00 $16,400. 00 H 4,150. 00 5 per cent... P a r . 400, 000, 000. 00 44, 520, 000.00 35,085.00 ~ 2 years 2 years date. after 5 per cent... P a r . 400,000,000.00 166, 480, 000.00 28, 750. 00 Indefinite... On d e m a n d . . T W O - Y E A R N O T E S O F 1863. A c t o f M a r c h 3,1863 (12 S t a t u t e s , 710) H^ w • after .. h3 O O 1 year date. 1 year A c t o f M a r c h 3,1863 (12 S t a t u t e s , 710) $75, 000, 000.00 w o GOLD C E R T I F I C A T E S . A c t of M a r c h 3,1863 (12 S t a t u t e s , 711) = ...^ None Par. Indefinite. 142,023,150.00 Q COMPOUND-INTEREST NOTES. 6 p e r cent, compound. Par. 400, 000, 000. 00 266, 595, 440.00 A c t s of M a r c h 3,1863 (12 S t a t u t e s , 710), a n d J u n e 30,1864 (13 S t a t u t e s , 218). T E N - F O R T I E S O F 1864. 3 years 3 years A c t of M a r c h 3,1864 (13 S t a t u t e s , 13) 10 or 40 y e a r s M a r c h 1, 1874. 5 p e r c e n t . . . P a r t o 7 p e r ct. prem. 200, 000, 000.00 196,118,3:0.00 63, 600. 00 5 o r 20 y e a r s . N o v . 1 , 1 8 6 9 . . . 6 p e r c e n t . . . A v . p r e m . of2xVo&- 400, 000, 000.00 125, 561, 300. 00 44,100. 00 A u g . 15,1867 ) J u n e 15,1868 V 7x%per c t . 5 A v . p r e m . J800, 000, 000.00 ' of yf Iff. J u l y 15, 1868 ) '829, 992, 500.00 128, 300. 00 » date. from ;> F I V E - T W E N T I E S O F J U N E , 1804. A c t o f J u n e 30,1864 (13 S t a t u t e s , 218) S E V E N - T H I R T I E S O F 1864 A N D 1865. A c t s of J u n e 30,1864 (13 S t a t u t e s , 218), J a n u a r y 28,1865 (13 S t a t u t e s , 425), a n d M a r c h 3,1865 (13 S t a t u t e s , 468). 3 years. -1 NAVY PENSION FUND. T h e a c t of J u l y 1,1864 (13 S t a t u t e s , 414), a u t h o r i z e d t h e S e c r e t a r y of Indeflnite... Indefinite. 3 per c e n t . . . 1 P a r . = „.. I Indefinite | 14, 000, 000.00 14,000,000.00 CO Cj the Navy to invest in registered securities of the United States so much of the Navy pension fund in the Treasury January l a n d July 1 in each year as would not be required for the payment of naval pensitms. Section 2 ofthe act of July 23,1868 (15 Statutes, 170), fixed the interest on this fund at 3 per centum per annum m lawful money, and confined its use to the payment of naval pensions exclusively. FIVE-TWENTIES OF 1865. 203, 327,250.00 27, 350. 00 Av.prem. Indefinite. of3A%\, 332, 998,950. 00 153, 250. 00 Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Stat- 5 or 20 years. July 1,1872... 6 per cent... Av. prem. Indefinite. utes, 31). of liBoff 379, 618,000.00 281, 200. 00 42,539,350.00 72,150. 00 Acts cf March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Stat- 5 or 20 years. Nov. 1,1870 . utes, 31). 6 per cent... Av prem. Indefinite.... CONSOLS OF 1865. Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Stat- 5 or 20 years. J u l y l , 1870 . utes, 31). 6 per cent. a CONSOLS OF 1867o o CONSOLS OF I8680 Acts of March 3, 1865 (13- Statutes, 468), and April 12, 1866 (14 Stat- 5 or 20 years. J u l y l , 1873... 6 per cent. utes, 31). A V. prem. Indefinite. of lUxf ffi THREE-PER-CENT. CERTIFICATES. Acts of March 2, 1867 (14 Statutes, 558), and July 25, 1868 (15 Stat- Indefinite... utes, 183). F I V E - P E R C E N T . LOAN OF 1881. On demand . 3 per cent. Par . 75,000,000. 00 *85,155 000.00 5,000.00 a HH •Q 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 thao 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 fifty cents of standard value. The act of March 3, 1875 (1^ Statutes, 466), directs the Secretary of the Treasury to issue bonds of the character and description set out in the acfrof July 14,1870 (16 Statutes, 272), to James B. Eads, or his legal representatives, in payment at par of the warrants of the Secretary of War for tbe 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 shall iiave previously provided for the payment of" the same by the necessary appropriation of money X * Including reissues*. < T A B L E A—STATEMENT O F T H E OUTSTANDING P R I N C I P A L OF T H E P U B L I C D E B T , ETC.—Continued. Length of . loan. The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of V10 years $200,000,000 at 5 per centum, principal and interest payable in coin of the present standard value, at the pleasure of the United States Government, after ten years; these bonds to be exempt frora the payment of all taxes or'duties ofthe United States, as well as from taxation in any form by or under State, municipal, or local authority. Bonds and coupons payable at the Treasury of the United States. This act not to authorize an increase of the bonded debt of the , United States. Bonds to be sold at not less than par in coin, and the proceeds to be applied to the redemption of outstanding 5-20's, or to be exchanged for said 5-20's, par for par. Payment of these bonds, when due, to be made in order of dates and numbers, beginning with each class last dated and numbered. Interest to cease at the end of three months from notice of intention to redeem. The act of January 20,1871 (16 Statutes, 399), increases the amount of 5 per cents to $500,000,000, provided the total amoimt of bonds issued shall not exceed the amount originally authorized, and authorizes the interest on any of these bonds to be paid quarterly. The act of December 17,1873 (18 Statutes, 1), authorized the issue of an equal amount of bonds ofthe loan of 1858, which the holders thereof may, on or before February 1,1874, elect to exchange for the bonds of this loan. FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891, (REFUNDING.) The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of 15 y e a r s . . . $300,000,000 at 4^ per centum, payable in coin of the present standard value, at the pleasure of the United States Government, after fifteen years; these bonds to be exempt from the payment of all taxes or duties of the United States, as well as from taxation in any form by or under State, municipal, or local authority. Bonds and coupons payable at the Treasury of the United States. This act not to authorize an increase of the bonded debt of the United States. Bonds to be sold at not less than par in coin, and the proceeds to be applied to the redemption of outstanding 5-20's, or to be exchanged for said 5-20's, par for par. Payment of these bonds, when due, to be made in order of dates and numbers, beginning with each class last dated and numbered. Interest to cease at the end of three months from notice of intention to redeem. » FOUR-PERCENT. LOAN OF 1907. May 1,1881 . . 5 percent... Par $517,994,150.00 $52, 050. 00 O w H O. w ZP' o H ^ $1(500,000,000.00 Kj O Sept. 1,1891... 4J per cent. Par. 185, 000, 000. 00 157, 207, 050. 00 w H c! (REFUNDING.) The act of July 14, 1870 (16 Statutes, 272), authorizes the issue of 30 years ^ JOOO, 000,000 at 4 per centum, payable in coin ofthe present standard Price When redeem- Rate of inauthorAmount outat which Amount Amount issued, standing. able. terest. ized. sold. July 1,1907 .. 4 per cent. P a r to one-half I 708, 980, 800.00683, 677, 400. 00 value, at the pleasure of the 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 of the United States. This act not to authorize an increase of the bonded debt of the United States. Bonds to be sold at noteless than par in coin, and the proceeds to be applied . to the redemption of outstanding 5-20's, or to be exchanged for said 5-20's, par for par. Payment of these bonds, when due, to be ma:de 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 Refunding Certificates, page x. FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891. (RESUMPTION.) The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary of the Treasury to use any surplus revenues from time to time in the ' Treasury not otherwise appropriated, and to issue, sell, dispose of, at not less than par, in coin, either of the description of bonds of tlie United States described in the act of July 14,1870 (16 Statutes, 272), for the purpose of redeeming, on and after January 1, 1879, in coin, at the ofi3ce of the assistant treasurer of the United States in New York, the outstanding United States legal-tender notes when presented in sums of not less than fifty dollars. per cent premium. 15 years. FOUR-PER-CENT. LOAN OF 1907. (RESUMPTION.) The act of January 14,1875 (18 Statutes, 296), authorizes the Secretary 30 years. of the Treasury ito use any surplus revenues from time to time in the Treasury not otherwise appropriated, and to issue, sell, dispose of, at not less than par, in coin, either of the description of bonds of the United States described in'the act of July i4, 1870 (16 Statutes, 272), for the purpose of redeeming, on and after January 1^1879, in coin, at the ofiice of the assistant treasurer of theUnited States in New York, the outstanding United States legal-tender notes when presented in sums of not less than fifty dollars. CERTIFICATES OF DEPOSIT. The act of June 8, 1872 (17 Statutes, 336), authorizes the deposit of Indefinite. United States notes without interest by banking associations in sums not less than $10,000, and the issue of certificates therefor iu denominations of not less than $5,000; which certificates shall be payable . on demand in United States notes at the place where the deposits V •N ere made. I t provides that the notes so deposited in the Treasury shall not be counted as a part of the legal reserve, but that the certifioates issued therefor may be held and coiinted by the national banks as part of their legal reserve, and may be accepted in the settlement of clearing-house balances, at the place where the deposits therefor were made, and that the United States notes for which such certificates were issued or other United States notes of like amount, shall be held as special deposits in the Treasury, and used only for the redemption of such certificates. Sept. 1,1891.. 4J per cent. P a r t o Indefinite. one and one-half percent, premium. 65, 000,000. 00 65, 000, 000. 00 § o > o hrj July 1, 1C07. 4 per cent... P a r . Indefinite 30, 500, 000. 00 30, 500, 000. 00 On demand None. No limit . 64, 780, 000. 00 14, 665,000. 00 trj H •X T A B L E A.—STATEMENT O F T H E OUTSTANDING P R I N C I P A L O F T H E P U B L I C D E B T , ETC.—Continued. X Length of loan. Price When redeem- Rates of inat which able. terest. sold. Amount authorized. Amount issued Amount outstanding. SILVER CERTIFICATES. The act of February 28,1878 (20 Statutes, 26, sec. 3), provides that any Indefiniteholder 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, corresponding with the denominations of the United States notes. The coin deposited for or representing the certificates shall be retained in the Treasury for the payment of the same on demand. Said certificates shall be receivable for customs, taxes, and all public dues, and, when so received, may be reissued. R E F U N D I N G CERTIFICATES. - On demand . None . No limit. $229, 491, 772. 00 H b .^ w ^ The act of February 26, 1879i (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 centum bonds described in the refunding act; the money so received to be applied only to the payment of the bonds bearing interest at a rate not less than five per centum, in the mode prescribed by said act. CQ Indefinite... Convertable in- 4 per cent... Par. to 4 per cent, bonds. No limit. $40, 012, 750.00 138,050. 00 H o Indefinite. At pleasure of the Goverument. 3 | per cent. Par. H 42,000. 00 w H LOAN OF J U L Y 12, 1882. These bonds were issued in exchange for the five and six per cent, bonds which had been previously continued at three and one-half per cent., by mutual agreement between the Secretary of the Treasury and the holders, and were made redeemable at the pleasure of the Government. W o W FUNDED LOAN OF 1881, CONTINUED AT THREE AND ONEH A L F P E R CENT. These bonds were issued in exchange for five per cent, bonds of the funded loan of 1881, by mutual agreement between the Secretary of the Treasury and the holders, and were made redeemable at the pleasure of the Government. "^ o .^ Indefinite... At pleasure of the Government. 3 per cent... P a r . 722,900.00 1, 692, 858, 984. 58 * Exclusive of $64,623,512 bonds issued to Pacific railroads. LXXI PRINCIPAL OF T H E PUBLIC DEBT. T A B L E B . — S T A T E M E N T OP OUTSTANDING P R I N C I P A L OF T H E P U B L I C D E B T O P T H E U N I T E D S T A T E S O N T H E 1 S T O P J A N U A R Y O P E A C H Y E A R P R O M 1791 T O 1843, I N - C L U S I V E , AND ON T H E 1 S T O F J U L Y OF EACH YEAR FROM 1843 TO iSdS, INCLUSIVE. Amount. Year. Jan. 1, 1791 1792' 1793 1794 1795 1796 ,1797 1798 1799 1800 1801 1802 1 1803 1804 1805 1806 1807 1808 1809 1810 1811 181-2 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 ' Year. $75, 463, 476. 52 Jan. 1 1841 1842 77, 227, 924. 66 j • 80,352,634.04 ]843 78, 427, 404. 77 Julvl 1843 1844 80, 747, 587. 39 1845 83, 762,172. 07 1846 82, 064, 479. 331847 79,228,529.12 1848 78,408,669.77 1849 82,976,294.35 ^ 1850 83, 038, 050. SO 1851 80.712,632.25 18.52 : 77, 054, 6r6. 30 1853 88, 427,120. 88 1854 82,312,150.50 1855 75, 723, 270. 66 1856 69, 218, 398. 64 1857 65,196, 317. 97 57, 023,192. 09 1858 1859 53,173, 217. 52 1860 48, 00.5, 587. 76 45, 209, 737. 90 1861 55, 962, 827. 57 1862 1863 81, 487, 846. 24 99, 833, 660.15 ]864 1865 127, 334, 933. 74 1866 121,491,965.16 1867 103, 466, 633. 83 95, 529, 648. 28 1868 1869 91,015,566.15 89, 987, 427. 66 1870 93, 54.6, 676. 98 1871 1872 90, 875, 877. 28 90, 269, 777. 77 1873 1874 83, 788, 432. 71 1875 81, 054, 059. 99 73, 987, 357. 20 1876 67, 475, 043. 87 1877 58, 421. 413. 67 1878 1879 48, 56.5, 406. 50 1880 39, 123,191.68 24, 322, 235.18 1881 1882... 7.001,698.83 1883..... 4, 760, 082. U8 37, 733. 05 1884 1885 "... 37,513.05 • 18^) • 336, 957. 83 1 1887 3, 308,124. 07 1888 10, 434, 221.14 3, 573, 343. 82 Amount. .. : $5, 250, 875. 54 13, .594,480. 75 20, 601, 226.2& 32, 742, 922. 0023, 461, 652. 50^ 15, 925, 303. 01 15, 550, 202. 9 7 38, 826, 534. 77' 47, 044, 862.25 63, 061, 858. 69) 63, 452, 773. 55^ 68, 304, 796. 02: 66,199, 341. 71 59, 803, 117. 70 42, 242, 222. 42' 3.5, 586, 956. 5S 31, 972, 537.90' 28, 699, 831. 8& 44, 911, 881. 05 58, 496, 837. 88^ 64, 842, 287. 88; 90, 580, 873. 72 524, 176,412.15 1,119,772,138.65 .1,815,784,370.57 2, 680,647. 869. 74 2, 773, 236,173. 6 ^ 2, 678,126,103. 87 2, 611, 687, 851.192, 588, 452, 213. 94 2, 480, 672, 427, 81 2,353,211,332.32 2, 253, 251, 328.78 *2, 234, 482, 993. 20i •^2, 251, 690,468. 4 5 *2, 232, 284, 531. 9^ *2,180, 395, 067.15 *2, 205, 301, 392.10*2, 256, 205, 892. 55 *2, 349, 567, 482.04 *2, 120, 415, 370. 65 "2, 069, 013, 569. 58 "1,918,312,994.05 *1, 884.171. 728. 07v *1, 830; 528, 923. 57 tl, 876,424, 275.14 11,7.56,44.5,205.78 tl, 68S, 229, 591. 65 tl, 705, 992, 320. 58 ^In the amount here stated as the outstanding principal of the public.debt are included the certificates of deposit outstanding on the 30th of Jiine, issued under act of J u n e 8, 1872, for which a l i k e amount in United States notes was on special deposit in the Treasury for their redemption, and added to the cash balance iu the Treasury. These certificates, as a matter of accounts, are treated as a part of the public debt, but being otfset by notes held on deposit for their redemption, should properly be deducted from the principal of the public debt in making coraparison with former years. t Exclusive of gold, silver, and currency certificates held m^the Treasury's cash, and including $64,623,512 bonds issued to the severaj Pacific railroads. . T A B L E C . — A N A L Y S I S O F T H E P R I N C I P A L O F I H E P U B L I C f)EB'r O F T H E UNitED STAI'ES PROM J U L Y 1, 1856, TO J U L Y 1, 1888. Year. 1856 1857 1858 , 1859 1860 1861 1862 : 1863 1864 3865 186.5—August 31 1866 1867 1868 3869. 1870 -, . ... 1871 1872 3873 1874 1875 :. 1876 .1877 1878 1879 1880 1881 1882 1883 . . 1884 ...-•.... 1885 1886 1887 ; 1888 3 per cents. 3§ per cents. , 4 per cents. 4| per cents. 5 per cents. - • $57, 926,116. .57 10.5, 629, 385. 30 77, 547, 696. 07 90,496. 930. 74 018,127.98 121,341,879.62 17, 737, 025. 68 801, 361. 23 $64, 0i)0, 000. 00 66,125, 000. 00 59, 550, 000. 00 45, 885, 000. 00 678, 000. 00 24, 665, 000. 00 678, 000. 00 14, 000, 000. 00 678, 000. 00 14, 000, 000. 00 678, 000. 00 14, 000, 000. 00 678, 000. 00 34, 000, 000. 00 34, 000, 000. 00 $140, 000, 000. 00 14, 000, 000. 00 240, 000, 000. 00 98, 850, 000. 00 14, COO, 000. 00 741, 522, 000. 00 250, 000, ( 00. 00 14, 000, 000. 00 250, 000, 000. 00 • 739,347,800.00 14,000,000.00 250, 000, 090. 00 739,347,800.(0 14, 000, 000. 00 "$460,461, 050." 00 739, 349, 3.50. 00 250, 000, 000. 00 318,204,350.00 737, 942, 200. 00 250, 000, 000. 00 32, 082, 600, 00 238,612, 1.50.00 737, 951, 700. 00 250, 000, 000. 00 208, 190, ,500. 00 737, 960, 450. 00 2.50, 000, 000. 00 158, 046, 600. 00 250, 000, 000. 00 737, 967, 500. 00 33, 716, 500. 00 737, 975, 850. 00 250, 000, 000. 00 14, 000, 000. 00 222, 207, 050. 00 714, 315, 450. 00 $3, 632, 000. 00 3,489, 000. 00 23, 538, 000. 00 37,127, 800. 00 43, 476, 300.00 33, 022, 200. 00 30, 483, 000. 00 30, 483, 000. 00 300, 213, 480. 00 245, 709. 420. 63 269,175, 727. 65' 201, 98-2, 665. 01 198, 533, 435. 01 221, 586,185. 01 221, 588, 300. 00 221, 688, 200. 00 274, 236, 450. 00 414, 5o7, 300. 00 414,567, 3i 0.00 510, 628, 0.50. 00 607, 132,7.50.00 711,685,800.00 703, 266, 6.50. 00 703, 266, 650. 00 508, 440, 350. 00 484, 864, 900. 00 439, 841, 350. 00 6 per cents. 7x'V per cents.' X X Total interestbearing debt.^ $28,130, 761. 77 $33,762,761.77 24, 971, 958. 95 28, 460, 958. 93 21,162, 838.11 44, 700, 838.11 21,162, 938.11 58, 290, 738.11 64, 640, 838.11 21,164, 538.11 90, 380, 873. 95 H 57, 358, 673. 95 36.5, 304, 826. 92 154, 313, 225. 01 $122, 582, 485. 34 O 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 1, 213, 495,169. 90 671, 610, 397. 02 2, 221 311 918. 29 830,000,000.00 2, 381, 530, 294. 96 1,281,736,439.33 813,460,621.95 2, 332, 331, 207. 60 1,195,546,041.02 1, 543, 452,080. 02 488, 344, 846. 95 2, 248, 067, 387. 66 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, 76.5, 317, 422. 39 1, 934, 696, 750.00 1, 613, 897, 300. 00 1, 814, 794,100. 00 1, 374, 883, 800. 00 3,710,483,950.00 1,281,2.38,650.00 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 PO 984, 999, 650. 00 8.54,621,850.00 1,711,888,500.00 738, 619, 000. 00 3, 794, 735, 650. 00 283, 681, 3.50. 00 1, 797, 643, 700. 00 O 235, 780, 400. 00 1, 72.3, 993.100. 00 196, 378, 600. 00 1, 639, 567, 750. 00 1,463,810^400.00 1, 338, 229,150. 00 W 1, 226, .563, 850. 00 1,196,350,950.00 H 1,146,014,300.00 1, 021, 692, 350. 00 • 950, 522, 500. 00 o w. • \ o f> a> cl T A B L E C — A N A L Y S I S O F T H E P R I N C I P A L O F T H E P U B L I C D E B T O F T H E U N I T E D S T A T E S , ETC.—-Continued. Year. 1856—July 1 1857 1858 1859 1860 1861 1862 1863 1864 1865 1865—August 31 . 1866-July 1 1867 1868 1869. , 1870 1871 1872 1873 1874 1875... 1876: 1877 1878. 1879 1880 1881 1882 1883 1884.. 1885 1886 ^ 1887.. 1888.... D e b t on w h i c h in- D e b t b e a r i n g n o .terest h a s ceased. interest. 776.13 872. 92 042. 92 099. 77 449. 77 999. 77 195. 21 048.16 335. 86 77L 20 020. 09 092. 05 615. 01 340. 89 181. 00 641.00 902.26 797. 26 710.26 590.26 820. 26 420.20 860. 26 560.26 630. 26 455. 26 865. 26 805, 26 415. 26 205. 26 995. 26 445. 26 165. 26 055. 26 $158,591, 390. 00 411,767, 456. 00 455, 437, 271. 21 458, 090, 180. 25 461,616, 31L 51 439, 969, 874.04 428, 218, 101.20 408, 401, 782. 61 421,131, 510.55 430, 508, 064. 42 416, 565, 680. 06 430, 530, 431. 52 472, 069, 332. 94 509, 543, 128.17 498,182, 41L69 465,807, 196.S9 476, 764, 031.84 455, 875, 682. 27 410, 835, 741. 78 388, 800, 815. 37 422, 721, 954. 32 438, 244, 788. 77 538, 111, 162. 81 584, 308, 868. 31 603, 712, 927. 88 619, 344, 468. 52 629, 795, 077. 37 739,840, 389. 32 O u t s t a n d i n g p r i n - C a s h in t h e T r e a s - 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 charge. in Treasury. u r y J u l y 1. cipal. $31, 972, 537. 90 28, 699, 831. 85 44, 911, 881. 03 58, 496, 837. 88 64, 842, 287. 88 90, 580, 873. 72 524, 176, 412.13 1.119,772,138, 63 1, 815,784, 370. 57 2, 680,647, 869.74 2. 844, 649. 626. 56 2,773, 236', 173. 69 2, 678,126,103. 87 2,611, 687, 851.19 2, 588,452, 213. 94 2, 480,672,427. 81 2, 353,211, 332. 32 2, 253,251, 328.78 2, 234,482,993.20 2,253, 690,468.43 2, 232,284, 531. 95 2,180, 395, 067.15 2, 205,301. 392.10 2, 256,205, 892. 53 2, 245,495, 072. 04 2.120, 415, .370. 63 2, 069,013, 569. 58 1, 918,312, 994. 03 1, 884,171, 728. 07 1, 830,528, 923. 57 1, 863,964. 873.14 1, 775,063, 013. 78 1, 657,602, 592. 63 1, 692,858, 984.58 $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. 85 892.18 , 169, 974, 130, 834,437. 96 155, 680,340. 85 149, 502,471. 60 106, 217, 263.65 103, 470,798.43 329,020, 932. 45 147,541, 314 74 142, 243,361.82 119, 469, 726. 70 186, 025,960. 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, 985,928.18 488. 612,429. 23 492, 917,173.34 482, 433,917.21 629, 854,089. 85 $10, 965, 953. 01 9, 998, 621. 76 37, 900,19L72 53, 405, 234 19 59, 964, 402. 01 87, 718, 660. 80 505, 312, 752.17 1, 111,350, 737. 41 1, 709,452, 277.04 2,674, 815, 856. 76 2, 756, 431, 571. 43 2, 636,036,163.84 2, 508, 151, 2n. 69 2, 480,853, 413. 23 2, 432,, 771, 873. 09 2,331, 169, 956.21 2, 246,994, 068. 67 2,149, 780, 530. 35 2,105, 462, 060. 75 2,104, 149,153. 69 2, 090,041,170.13 2, 060,925, 340. 45 2, 019,, 275, 431. 37 1, 999,382, 280.45 1, 996,414, 905. 03 1, 919,326, 747.75 1, 819,650,354 23 1, 675,023,474. 25 1, 538,781, 825.15 1, 438,542, 995 39 1, 375,352, 443. 91 1, 282,145, 840. 44 1,175,, 168,675.42 1, 063,, 004, 894. 73 $1,869, 445.70 1, 672, 767. 53 2, 446, 670. 28 8,126, 166. 28 3,443, 687.29 5, 092, 630. 43 22, 048, 509. 59 41, 854, 148. 01 78, 853, 487. 24 137, 742, 617.43 150, 977; 697.87 146, 068, 196. 29 138, 892. 451.39 128, 459, 598.14 125, 523, 998. 34 118, 784, 960. 34 113,949, 330. 50 103, 988, 463. 00 98, 049, 804. 00 98, 796, 004 50 96, 855, 690.50 95,304, 269. 00 93,160, 643. 50 94, 654, 472. 50 83, 773, 778. 50 79, 633, 981. 00 75, 018, 695. .50 57, 360, 110.75 51, 436, 709: 50 47, 926, 432. 50 47, 014, 133. 00 45,510, 098. 00 41, 780, 529. 00 38, 991, 935. 25 N O T E 1.—The a n n u a l i n t e r e s t c h a r g e i s 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 i s 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 ... acific railway bonds. ' . N O T E 2.—The figures for J u l y 1, 1879, w e r e m a d e u p a s s u m i n g p e n d i n g f u n d i n g o p e r a t i o 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 o f J u l y 11, 1862, i s i n c l u d e d in t h e 4 p e r c e n t s , from 1862, t o 1868, inclut^ive, 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 l o a n bore i n t e r e s t from 4 p e r c e n t . t o 6 p e r cent., a n d w a s r e d e e m a b l e on t e n d a y ' s n o t i c e a f t e r t h i r t y d a y s ; b u t being 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 a s 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 n a v e r a g e for t h e y e a r . . -u fi. 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 o f 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 o 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 . ' ^ Kj Ul -0 a td X X- LXXIV R E P O R T OF T H E SECRETARY O F ' T H E TREASURY. T A B L E D . — S T A T E M E N T OP T H E I S S U E AND R E D E M P T I O N OP L O A N S AND T R E A S U R Y N O T E S ( B Y W A R R A N T S ) F O R T H E FISCAL YEAR E N D E D J U N E 30, 1888. Issues. O r e g o n w a r d e b t , a c t of M a r c h 2,1861. L o a n of J u l 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 n o t e s , a c t s J u l y 17 a n d A u g u s t 5, 1861, a n d F e b r u a r y 12, , 1862 P 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 Legal-ten d e r n o t e s , a c t s of F e b r a a r y 25 a n d J u l y 11, 1862, J a n u a r y 7 a n d M a r c h 3, 1863 G o l d certificates, a c t s of M a r c h 3," 1863, a n d J u l y 12, 1882 One-vear notes'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 notes, a c t s of M a r c h 3,1863, a n d J u n e 3 0 , 1 8 6 4 . . . . L o a n of 1863, a c t s of M a r c h 3, 1863, *and June^30, 1864 Ten-forties of 1864, a c t of M a r c h 3, 1864 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 : 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 3,1865 Consols of 1868. a c t of M a r c h 3,1865. F u n d e d loan of 1881, a c t s of J u l y 14, 1870, a n d J a n u a r y 20,1871, and J a n u a r y 14,1875 , C e r t i f i c a t e s of deposit, a c t of J u n e 8, 1872 . S i l v e r certificates, a c t of F e b r u a r y 28,1878 R e f u n d i n g certificates, a c t of F e b r u a r y 26, 1879 : L o a n of 1882, a c t of J u l y 12,1882 . . . 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 n e 30, 1864. F u n d e d loan of 3891, a c t s J u l y 14, 3 870, J a n u a r y 24,1871, a n d J a n u a r y 14, 1875 F u n d e d l o a n of 3907, a c t s 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 , Total E x c e s s of i s s u e s E x c e s s of r e d e m p t i o n s . N e t e x c e s s of i s s u e s c h a r g e d i n receipts and expenditures Redemptions. E x c e s s of issues.. $150.00 Excess of redemptions. $150.00 34, 350. 00 34, 350. 00 322. 50 322. 50 $500. 00 I I , 800. 00 11,300.00 63, 652, 000. 00 63, 652, 000. 00 85,160, 000. 00 64, 623, 667. 00 $20, 536, 333. 00 1,120. 00 1,120. 00 650. 00 650. OO 3, 350.00 3, 350. 00 4, 500. 00 4, 500. 00 7, 850. 00 7,850.00 5, 000. 00 5, 000. OO 1, 300. 00 1, 300. 00 1, 500. 00 26, 350. 00 97,550.00 1, 250. 00 .1,500.00 26, 350. 00 97, 550. 00 1, 250. 00 83,100.00 83,100. 00 30, 260, 000. 00 24, 675, 000. 00 5, 585, 000. 00 105, 896, 000. 00 21, 947, 378. 00 83, 948, 622. 00 37, 200. 00 23, 056, 250.,00 37, 200. 00 23, 056, 250. 00 24, 320. 55 24, 320. 55 27, 792, 950. 00 27, 792, 950. OO 48,150. 00 23,671,350.00 285,016,650.00 249, 760, 258. 05 23, 623, 200. 00 110,069,955.00 74, 813, 563. 05 74, 813, 563. 05 110, 069, 955. OO 35, 256, 391. 95 T A B L E E.—STATEIMENT SHOWING T H E P U R C H A S E AND R E D E M P T I O N OF B O N D S ON ACCOUNT^OF'THE S I N K I N G - F U N D DURING E A C H F I S C A L Y E A R FROM ITS INSTITUTION I N M A Y , 1869, TO AND INCLUDING J U N E 30, Y e a r ended— Principal redeemed. P r e m i u m paid. N e t cost in currency. 1888. 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. B a l a n c e of interest duo a t close of fiscal year. J U N E 30, 1869. Five-twenties Five-twenties Five-twenties Five-twenties Consols, 1865 Consols, 1867 Consols, 1868 Total of of of of 1862 M a r c h , 1864 J u n e , 1864 1365 ,,„ $1,621,000.00 70, 000. 00 1,051,000.00 465, 000.00 . 461,000.00 4, 718, 000. 00 305, 000.00 $253, 822. 84 11,725.00 161,946.45 74,969. CO 73,736. 80 749, 208. 08 49,442.50 $1, 874, 822. 84 81,725.00 1,212,946.45 539,969.00 534,730.80 5,467, 208. 08 354,442. 50 $1, 349, 970. 02 57, 552.82 873,205.61 387, 566. 28 387, 903. 26 3,948,586.11 256, 653.20 $16, 210.00 700. 00 10,510.00 4, 650. 00 13, 830. 00 141, 540. 00 9,150.00 $7, 384. 60 218.63 1,470.42 2, 683.54 429. 04 116,032.35 8,173. 98 $8, 825.40 4 8 ' . 379, 039. 58 1, 966.46 13,400. 96 25, 507. 65 976. 02 1, 691, 000. 00 1, 374, 850.67 10, 005,850.67 7,261,437.30 196, 590.00 136, 392. 56 60,197. 44 3, 542, 050. 00 85, 000.00 3,971,400.00 2, 790, 250. 00 11,532,150.00 5, 882, 550.00 348. 500.00 493,479. 42 15,.742.87 506,189. 91 361,735.43 1, 454,778. 37 861, 763.73 ° 53,363.95 4, 035,529. 42 100, 742.87 4, 477, 589.91 3,151, 985.43 12, 986, 928. 37 6,744,313.73 401,863.95 3, 263, 099. 51 75,658.54 3, 647, 628.29 2, 606,636.20 10, 681, 736. 97 5,309,810.90 308, 573.16 160, 919.50 5, 350.00 165,834.00 105, 257. 50 495, 421.50 302, 734. 50 19, 380.00 45, 994.49 1, 080.99 49, 946.00 37,113. 53 145,-518.29 66, 111. 51 5, 238.73 114, 925.01 4,269. 01 135,888.00 68,343. 97 349, 903.21 236, 6v2. 99 14,141. 27 28,151,900.00 3, 747, 053.68 31, 898,953.68 25, 893,143. 57 1, 254, 897. 00 351,003. 54 903,893.46 a o w O W -O "^ J U N E 30, 1870. Five-twenties Five-twenties Five-twenties Five-twenties Consols, 1865 Consols, 1867 Coubols, 1868 of 1862 of M a r c h , 1864 of J u n e , 1864 of 1865 Total O H h-t t^ J U N E 30, 1871. Five-twenties Five-twenties Five-twenties Five-twenties Consols, 1865 Consols, 1867 Consols, 1868 of 1862: of M a r c h . 1864 of J une, 1864 of 1865 Total, .,. Q 2,792, 9.50. 00 29, ,50it. 00 3, 967, 350.00 6,768,600.00 10, 222, 200.00 6,103,050.00 52, 600. 00 227, 607. 56 2,277.1:0 340.5-9.63 574, 923. 00 850,940.79 541, 559.41 4,784.61 3, 020, 557.56 31, 777. 20 4,307,879.63 7, 343,523.00 11, 073,149.79 6, 644, 609. 41 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 49,797.81 145,975. 00 1, 240. 00 201, 375.00 331, 933. 50 5-22,317.00 351, 528.00 . 3,096.00 29,936, 250.00 2, 542,631.20 32,478,881.20 28, 694,017.73 1,557,264.50 36, 657. 80 388.35 703.46 259. 58 455. 28 745. 93 572.13 109,317. : o 851. 65 -349,671,54 239, 673. 92 412,661.72 274, 782.07 2, 512. 87 367, 782.53 1,189,481.97 51, 92. 109. 76, d o < T A B L E E . — S T A T E M E N T SHOWING T H E P U R C H A S E AND R E D E M P T I O N O P ' B O N D S ON ACCOUNT O F T H E S I N K I N G - F U N D , E T C — C o n t i n u e d o Year endcd- Five-twenties Five twenties Five-twenties Five-twenties Consols, 1865 Consols, 1867 Consols, 1868 JUNE30:i872. of 18(;2 of M.arch, 1864 of . J u n e , 1864 of 1865 -. Total J U N E 30,1873. 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 M a r c h , 1864 F i v e - t w e n t i e s of J u n o , 1864 F i v e - t w e n t i e s of 1865 Consols, 1865 Consols, 1867 . . . ^ Consols, 1868 Total J U N E 30,1874. 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 une, 1864 F i v e - t w e n t i e s of 18.J5 Consols, 1865 Consols, 1867 Consols, 1868 Total tr" .X X B a l a n c e of. inN e t cost esti- I n t e r e s t d u e A cecs rt u epda iidn t eirn- , t e r e s t d u e a t < a t close of P r i n c i p a l redtiemed. P r e m i u m paid. $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 14, 959. 03 438, 656.16 436, 838.70 1, 436,989. \^ 833, 600.15 9, 951. 63 181, 905. 21 142, 059. 03 043,306.16 072, 038. 70 225,889.46 792, 500.15 95, 801.63 $6, 345, 391. 98 126,123.46 3, 573, 223. 63 3, 594, 747. 85 11, 600, 785. 89 6,863, 777. 39 84, 595. 02 $427, 849. 00 8, 894. 00 246, 001.50 246,562.00 707, 334. 00 417, 5.34 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 32, 618,450.00 3, 935, 050. 34 36, 553, 500. 34 32, 248, 645. 22 2, 059, 325. 50 430, 908.38 1, 628, 417.12 7,137,100. 00 50, 000. 00 3, 741,150. 00 1, 959, 850. 00 10, 768, 250. 00 4,402,100. 00 619, 550. 00 925, 783.87 7, 372.50 480, 684 37 " 250,63.5. 93 1, 371, 187.37 553, 610. 89 81, 983.44 062, 883.87 57, 372. 50 221, 834. 37 21.0,485.93 339,437.17 955, 710. 89 701, 533. 44 7, 089, 542. 58 49, 780. 91 3, 715,2 a . 22 1, 943,488. 93 10, 668, 617. 09 4, 373, 78L 76 617,140. 34 431,450. 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, 744.47 345, 069. 34 69, 632. 51 8, 948.40 329,489.93 2,686:30 181, 054 04 96. 522. 03 501, 025. 66 194,493. 49 28, 224.60 28, 678, 000. 00 3, 671, 258.17 32, 349, 258.17 28,457, 562. 83 1, 725, 881. 50 392, 385.45 1,333,496. 05 05 32 69 42 86 40 90, 519. 00 341,438.50 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. 12, 872, 850. 74 823, 082. 00 222, 586. 28 600, 495. 72 H 25,170,400. 00 25,170,400. 00 541, 973.50 353, OOL 56 5, 78.5, 200. 00 10, 869, 600. 00 1, 789, 250.00 5, 785, 200. 00 10, 869, 600. 00 1, 789, 250. 00 404, 964. 00 760, 872. 00 125, 247.50 54,745.72 171,966.33 30, 805. 86 350, 218. 28 588, 905. 67 94,441.64 Z23 18,444,050.00 18,444,050.00 1,291, 083. 50 257, 517. 91 1, 033,565. 59 N e t cost i n currency. m a t e d i n gold. fiscal y e a r . coin. close of fiscal year. P3 1, 2, 1, 3, 4, 421, 700. 00 020, 550. 00° 247, 250. 00 393, 650. 00 051,000. 00 802, 300. 00 12,936,450.00 161, 218, 135, 360, 432, 86, 219. 79 457.39 577. 95 964. 62 348.18 505. 62 1, 395, 073. 55 $352, 669. 57 7, 555.30 188; 551. 70 208, 744. 63 558, 085. 79 3.09,046.08 3, 764. 05 ' s o w 1, 2, 1, 3, 4, 582, 919.79 239, 007. 39 382, 827. 95 754, 614. 62 483, 348.18 888, 805.62 14, 331, 523. 55 1,435, 391. 2, 012, 051. 1, 241, 571. 3, 374, 934. 4, 029, 975. 798, 926. ~ OQ a H • PO o J U N E 30,1875. F i v e - t w e n t i e s of 1862 zn J U N E 30,1876. 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 une, 1864 F i v e - t w e n t i e s of 1865 Total K} J U N E 30, 1877. F i v e - t w e n t i e s of 1862 = F i v e - t w e n t i e s of J u n e 1864 F i v e - t w e n t i e s of 1865 .o» . « Consols 1865 .........oc. consoisii867.II"!°.l!I!'.!!.'!!.'."r.!!.*II.".!.\! Total „ 1 81,200.00 178,900.00 180, 350.00 6, 050.00 1, 000. 00 81, 200. 00 178,900. 00 180, 350. 00 0, 050. 00 1,000. 00 4, 352.25 9, 943. 50 9,519.00 181. 50 30. 00 447, 500.00 447, 500.00 24, 026. 25 3,170. 58 8, 619. SO 6, 377. 92 72. 53 8.80 1,181. 67 1, 323. 60 3,141. 08 108. 97 2L20 ^ 5,776. 52 —. wg= 18,249.73 - = ^ : : • 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 -o = - . F i v e - t w e n t i e s of 1865 Consols, 1865 „, ...• . Consols 1867 Consols', 1868.,==o=r . = .; » Total..„.„,„ 17, 900. 00 15, 900.00 2, 350. 00 23,600.00 6, 700. 00 8, 500.00 966. 00 834 00 129.00 1, 416. 00 342. 00 510. 00 192. 65 78.41 40. 92 273. 35 134. 76 89.83 773. 35 755. 59 88. 08 1, 142. 65 207. 24 • 420.17 73, 950. 00 73,950. 00 4,197.00 809. 92 3, 387. 08 2, 650. 00 3,150. 00 1, 850. 00 1, 700.00 9, 050.00 100.00 2, 650. 00 3,150. 00 1,850.00 1, 700.00 9,050.00 100.00 165. 75 9 4 50 85.50 302.00 543.00 6.00 40.35 18.53 41.22 41, 49 166. 62 ^ 56. 00 125.40 75. 97 44.28 60. 51 376. 38 5.44 o 18,500.00 996. 75 308. 77 687. 98 H 4.00 4 00 1 4 50 28,168. 75 85,110.00 1,165, 807. 50 484, 747. 50 9, 787. 50 415, 162. 70 15, 000. 00 .67 .49 5.85 12, 872. 65 47, 540. 20 518,148. 79 213,179. 29 3, 602. 56 130, 349. 36 10,191. 74 3.33 3.51 8.65 15. 296.10 37, 569. 80 647, 65vS. 61 271, 568. 21 6,124. 94 284,813.34 , 4, 808. 26 17, 900. 00 15,900700 2, 350. 00 23, 600. 00 5, 700. 00 8, 500. 00 =o „ d po o W zn o hrj W J U N E 30, 1879. F i v e - t w e n t i e s of 1862 F i v e - t w e n t i e s of J u n e 1864 . F i v e - t w e n t i e s of 1865 = .-... Consols, 1865 „ Consols, 3 8 6 7 . . . . Consols, 1868.. OOO.OO , 18, 500. 00 Total.....oo.... ............. — ZP o po 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 u e 1864 F i v e - t w e n t i e s of 1865 T e n - f o r t i e s of 1864 L o a n of F e b r u a r y , 1861 L o a n of J u l y a n d A u g u s t , 1861 L o a n of M a r c h , 1863 Oregon w a r debt F u n d e d l o a n of 3881 F u n d e d loan of 1907. 100. 00 100. 00 250.00 676, 050. 00 837, 000.00 064, 250.00 797,150. 00 202, 550. 00 575,450. 00 500, 000. 00 74,161. 95 1, 376, 085. 04 549,035.18 8. 273.02 662, 206. 97 125,558. 26 100. 00 100. 00 250. 00 676, 050. 00 2, 911,161. 95 33,440, 335. 04 13, 346,185.18 210,823. 02 24, 237, 656. 97 1, 625, 558.26 73,652, 900.00 2, 795, 320.42 76,448,220.42 2, 203, 806.45 935, 951. 60 51, 277. 58 488,876.11 3, 000. 00 50.00 100.00 7, 826, 277. 58 17, 201, 326.11 210. 00 3.50 7.00 462, 390.00 1, 002,747.00 80. 22 .25 1. 74 160, 072. 88 200,043. 95 ,* = :.... 2, 32, 12, 23; 1, Total..... • cn H-l Q I a 1,267,854.85 J U N E 30, 1881. 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 L o a n o f F e b r u a r y , 1861 , Loanof July and August, 1861... o . . . . . . . . o ... .o. 3, 000.00 50. 00 100. 00 7, 7-5'5, 000.00 16, 712,450.00 . 129. 78 3.25 5.26 302, 317.12 802,703.05 X X < e T A B L E E . — S T A T E M E N T SHOWING T H E P U R C H A S E AND R E D E M P T I O N O F B O N D S ON ACCOUNT O F T H E S I N K I N G - F U N D , ETC.—Continued. Y e a r ended— J U N E 30,1881—Continued. 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 Principal redeemed. P r e m i u m paid. N e t ccst in currency. N e t c o s t estim a t e d i n gold. I n t e r e s t d u e ' Accrued interest paid i n a t close of coin. fiscalyear. XX B a l a n c e of i n terest due a t close of fiscal year. / $7, 057,100. 00 54, 250.00 42, 769, 400.00 $199, 514 62 1,408.65 320,171.82 $7, 256, 614.62 55, 658. 65 43, 089, 571. 82 $361,315.50 2, 584.50 3,106, 474.15 $83, 330. 51 551.11 263,342.94 74 371. 350. 00 1, 061, 248.78 75,432, 598. 78 2, 935,731.65 707, 423. 60 $277, 984. 99' 2, 033.39 843,131.21 Total O PO 2, 228, 308.05 w J U N E 30,1882. ^ 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 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 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 F u n d e d loan of 1881 PO 55, 215, 850. 00 2, 637, 850. 00 1, 000. 00 2, 224, 450. 00 55,235,850.00 2, 637, 850. 00 1,000.00 2, 224,450. 00 1, 368, 894. 64 91, 701. 7523.33 115, 717. 53 579, 493.12 25,771.80 2.78 6, 771.83 789, 401.50 65, 929.95 20.55 108, 945.70 60, 079.150.00 60, 079,150. 00 1,576,337.23 612, 039. 53 964, 297.70 QQ • w o PO po J U N E 30,1883. F i v e - t w e n t i e s of 1862 F u n d e d l o a n 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^ p e r c e n t L o a n o f 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 Total 100.00 43,300.00 661,750.00 34,128, laO.OO 10, 019,400. 00 100. 00 41, 300. 00 661, 750. 00 34,128,150. 00 10, 019, 400. 00 5.50 1,716.66 20,760.25 1,171, 034 37 233,862.32 14.18 138.13 5,293.40 186. 913. 66 137, 402.11 8.68 1, 578. 53 15,466.85 984,120. 71 96,460.01 44, 850, 700. 00 44, 850. 700.00 1,427, 378. 90 329,761.48 1, 097, 617.42 200. 00 5, 200. 00 422, 550. 00 566, 250. 00 33,221,450.00 12, 553, 950. 00 200. 00 5, 200. 00 422. 550. 00 566, 250. 00 33, 221, 450. 00 12. 553, 950.00 9.50 187.08 14, 789. 25 19, 818. 75 1,018,176.97 240,130.13 13.35 164. 24 2, 823. 94 7, 069. 86 276, 923. 93 31, 884 61 3.85 22.84 11,965.31 12, 748. 89 741,253. 04 208, 245.52 46,769, 600. 00 46, 769, 600.00 1, 293, 111. 68 318, 879. 93 974, 231.75 H PO J U N E 30,1884. F i v e - t w e n t i e s of 1862 T^nndpfl 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^ p e r c e n t F n n d p d In^Ti of 1881 c o n t i n u e d a t 3k n e r c e n t L o a n of J n l v 12 1882 Total o ;> —. , _._ ZQ a •po J U N E 30, 1885. F i v e - t w e n t i e s of 1862 F i v e - t w « n t i e s of 1864 . F u n d e d loan of 1881 L o a n of J u l y a n d Ar>gust, 3863, 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 loan of 1881 c o n t i n 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 J U N E 30, 1886. Oresron w a r d e b t .... ... L o a n of J u l y a n d A u g u s t 1861 L o a n of 1863 F i v e - t w e n t i e s of 1862 F i v e - t w e n t i e s of 1864 F i v e - t w e n t i e s of 1865 T e n - f o r t i e s of 1864 Consols of 1865 . . . Consols of 1867 .' C o n s o l s o f 1868 F u n d e d l o a n of 1881 L o a n o f 1882 L o a n of 1863 c o n t i n u e d a t 3A° 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 loan of 1881, c o n t i n u e d a t 3^ jier c e n t 4,000. 00 100. 00 1,100. 00 52, 250. 00 18, 000. 00 230, 500. 00 45, 282, 200. 00 4, 000. 00 100. 00 1,100. 00 52, 250. 00 18, 000. 00 280, 500. GO 45, 282, 200. 00 85.00 4 00 36.67 1, 269. 62 499. 62 5, 347. 70 1,153, 460. 88 701.96 .49 50.51 588 85 S7. 92 1,416.28 268, 821. 31 616. 96 3.51 13.84 680. 77 411.70 3,931.42 884, 639. 57 45,588,150. 00 45, 588,150. 00 1,160, 703.49 271, 667. 32 889, 036.17' o zn ' 100.00 2, 500. 00 1,100. 00 67, 500. 00 4, 300. 00 • 300. 00 14, 250. 00 15, 900. 00 26, 950. 00 12, 250. 00 49, 800. 00 44, 044, 600. 00 4,100. 00 96, 750. 00 190,750. 00 100. 00 2, 500. 00 1,100. 00 67,500.00 4, 300. 00 30O. 00 14, 250. 00 15, 900. 00 26,950.00 12, 250. 00 49, 800. 00 44, 044, 800. 00 4, 300. 00 96, 750. 00 190,750.00 L50 53. 25 31.50 1, 425. CO 85. 25 6.00 356. 25 - 419. 25 662. 25 203. 25 826. 50 435,942.01" 123. 00 2,848. 50 4 , 7 0 4 13 18.00 99.00 33.00 14, 399. 00 31.14 2.02 278. 80 842. 29 2, 070. 75 570. 04 868. 55 220, 617.44 3L32 1, 560.76 1, 065. 34 16.50 45.75 L50 12, 974.00 - 5411 3.98 77.45 423. 04 1, 408. 50 366. 79 42.05 215, 324 57 9L68 1, 287.74 3, 638.-79 44, 531, 350. 00 44, 531,350. 00 447, 687.64 242, 487. 45 205, 200.19 47,748,750.00 1, 300. 00 3,100. 00 28,700. 00 650. 00 8, 000. 00 2, 000. OO 13,400. CO 18, 200. 00 34, 000. 00 500. 00 1. 500. 00 8, 500. 00 25, 600. 00 . 47,748,750.00 1, 300. 00 3,100. 00 28, 700 00 650.00 8, 000 00 2,000.00 13, 400. 00 18, 200. 00 34, OOC. 00 500. 00 1,500.00 8, .500. 00 . 25, 600. 00 1. 375, 653. 00 8417 110. 83 1, 722. CO 45.50 560. 00 120. GO 804. 00 2, 040. 00 30. 00 52.50 297. 50 - 926.33 223, 676. 38 119. 50 166. 80 861.00 5 8 12 473. 92 60.00 402. 00 2,147.36 3, 333. 69 270. 25 22. 58 60.31 213.17 1,151, 976. 62 35.33 55.97 861. 00 12.62 86.08 60.00 402. 00 1, 055.16 1, 293. 69 240. 25 29.92 237.19 713.16 47, 894, 200.-00 1,383, 537.83 231, 864. 88 1,151, 672.95 . .. Tatal J U N E 30, 1887. L o a n of 1882 T e n - f o r t i e s of 1864 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 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 1865 L o a n of F e b r u a r y 1861 L o a n of 1863 ...' Consols of 1865 '.... Consols of 1867 Consols of 1868 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 L o a n of 1863, c o n t i n u e d a t 3^ por c e n t !..... F u n d e d l o a n of 1881, c o n t i u u e d a t 3^-per c e n t i... Total -„ ...:./ 47, 894, 2J0O. 00 ., 1, 0 9 2 . CO O W o zn .^ O PO H tt Q I a X X •=< X T A B L E E . — S T A T E M E N T SHOWING T H E P U R C H A S E AND R E D E M P T I O N O F B O N D S ON ACCOUNT O F T H E S I N K I N G - F U N D , E T C — C o n t i n u e d . P r i n c i p a l redeemed. Y e a r ended— Total... Grand total N e t co.st i n currency. st due N e t cost esti- I n at et r eclose of m a t e d i n gold. • fiscal j ' e a r . Accrued interest paid in coin. B a l a n c e of interest due a t close of fiscal year. . $18, 880, 500.00 19, 455, 400. 00. 5, 389, 250. 00 43 725,150. 00 666, 629, 000. 00 $1, 555, 966.17 1,^96, 049. 71 2, 852, 015. 88 23, 374, 502. 69 $157, 677, 967. 61 PO- o ^ J U N E 30, 1888. L o a n of 1882 F u n d e d l o a n of 1881 F u n d e d loan of 1907 P r e m i u m paid. X X X po $18,880,500.00 21,,011,366.17 6, 685, 299. 71 $660, 630. 00 794, 247. 00 203,293.00 $94, 660.88 95, 098. 43 43, 817. 79 $565,969.12 699,148. 57 159, 475. 21 46, 577,165. 88 1, 658, 170. 00 233, 577.10 3,424,592.90 667, 753,192.47 23, 565, 782.37 6, 402,186. 31 17,163, 596. 06 H ,tt GQ o PO 3pO Kl O tt • PO -W P> zn Cl TABLE F . — S I N K I N G - F U N D ACCOUNT FOR F I S C A L Y E A R DR. H [^c ^-X July to CR. - T h e a n n u a l r e p o r t of t h e S e c r e t a r y of t h e T r e a s u r y for t h e fiscal y e a r 1885 c o n t a i n s a s t a t e m e n t s h o w i n g t h e c o n d i t i o n of t h e s i n k i n g - f u n d from i t s i n s t i t u t i o n i n M a y . 1869, t o a n d i n c l u d i n g J u n e 30, 1885.] 1, 1887 J u n e 30,1888 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 30,1887, l e s s coin a n d c u r r e n c y c e r t i f i c a t e s h e l d i n c a s h a n d c a s h a v a i l a b l e for r e d u c t i o n of t h e d e b t . . viz, $1,307,739,749.25 ~ 3 $13, 077, 397. 49 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 o fiscal y e a r 1 8 8 8 . . . 32, 082,137. 69 T o i n t e r e s t o n $43,732,550.00, a m o u n t of d e b t " p a i d " 1, 658, 614. 00 d u r i n g fiscal y e a r 1888 68.54 To balance 46, 818, 217. 72 J u n e 30,1888 B y b a l a n c e from l a s t y e a r B y p r i n c i p a l of b o n d e d d e b t r e d e e m e d iu 1888 By accrued interest thereon P r e m i u m on b o n d s p u r c h a s e d B y 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 i n 1888 $74. 43, 725,150. 233, 577. 2, 852, 015. 7, 400. 46, 818, 217. 72 zn fe! fe! Q I a o Q O O Cl fe; TABLE G . — S T A T E M E N T OF T H I R T Y - Y E A R G P E R C E N T . B O N D S - ( I N T E R E S T P A Y A B L E J A N U A R Y AND J U L Y ) I S S U E D TO T H E S E V E R A L P A C I F I C E A I L W A Y COMPANIES U N D E R T H E ACTS OF J U L Y 1, 1862 (12 STATUTES, 492), AND J U L Y 2, 1864 (13 STATUTES, 359). A m o u n t of bonds outstanding. Eailway companies. A m o u n t of inA m o u n t of terest accrued interestdue, as and paid to per Register's date. schedule. Total interest paid by the United States. • R e p a y m e n t of interest by transportation of m a i l s , troops, etc. Balance due the United S t a t e s on i n t e r est account, deducting repayments. . X' X .X PO hj o po H J a n u a r y 1, 1888: C e n t r a l Pacific Kansas 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 "Western Pacific S i o u x C i t y a u d Pacific J u l y 1, 1888: C e n t r a l Pacific K a n s a s Pacific U n i o n Pacific C e n t r a l B r a n c h U n i o n Pacific W e s t e r n Pacific S i o u x C i t y a n d Pacifi c . . . . . : . o 25, 865,120. 00 0, 303, 000. 00 27, 236, 512. 00 1,600,000.00 3, 970. 560. 00 1, 628, 320. 00 29,664,984 07 7, 642, 053.09 31, 494, 613. 29 1, 933, 808. 26 2,141,383.34 1, 855, 094.29 776, 553. 60 189, 090. 00 817, 095. 36 48, 000. 00 59,116. 80 48, 849.60 30,441,537.67 7, 831,143. 09 32,311, 708. 65 1,981,808.26 2, 200, 300.14 1, 903, 943. 89 5, 574, 932.83 3, .563, 485. 83 11, 523, 832. 70 319, 832. 62 9, 367. 00 134, 573. 32 24, 866, 604.84 4, 267, 657.,26 20, 787, 875. 95 1, 661, 975. 64 2,190, 933.14. 1, 769, 370. 57 64, 623, 512. 00 74, 731, 736. 34 1, 938, 705.36 76,670,441.70 21,126,024 30 55, 544, 417. 40 zn O 25, 885,120. 00 6, 303, COO. 00 27,236,512.00 1,600,000.00 1, 970, 560. 00 1, 628, 320. 00 30, 441, 537. 67 7,831,143.09 32,311,708.65 1, 981, 808. 26 2, 200, 300.14 1, 903, 943. 89 776, 553.60 189, 090. 00 817,095.36 48, 000, 00 59,116. 80 48, 849. 60 31,218,091.27 8, 020, 233. 09 33,128, 804. 01 2, 029, 808. 26 2,259,416.94 1, 95 ' 793.49 5, 677,463. 67 3, 614 719.77 31,717,776.96 343,309.78 9, 367. 00 141,050.64 25, 540, 627. 60 4, 405, 513. 32 21,411,027.05 1,688.698.48 2, 250, 049. 94 1, 811, 742. 85 PO 64, 623, 512. 00 76, 670, 441. 70 1,938,705.36 78, 609,147. 06 21, 501, 487. 82 57,107, 659. 24 tt > tt H po zn CHANGES IN INTEREST-BEARING DEBT. LXXXIII T A B L E H.—tSTATEMENT SHOWING T H E CHA'>'GES I N T H E I N T E R E S T - B E A R I N G D E B T OF T H E U N I T E D STATES DURING T H E YEAR E N D E D OCTOBER 31; 1888. Title ofloan. • F u n d e d loan of 1891 F u n d e d loan of 1907 . R e f u n d i n g certificates B o n d s issued t o Pacific Railroad Outstanding N o v e m b e r 1, 1887. R a t e of interest. P e r cent 4^ 4 4 3 6 " Increase duringthe year. Decrease during the year. Outstanding O c t o b e r 31, 1888. $230, 544, 600 732, 447, 550 155, 080 14, 000, 000 *$33, 250 $33, 242, 600 50, 412, 650 25, 460 $197,302,000 682, 068,150 129,620 14, 000, 000 977,147, 230 64, 623, 512 33, 250 83,680,710 893, 4,99, 770 64, 623, 512 1, 041, 770, 742 33, 250 83, 680, 710 958,123, 282 *See statement which follows, showing conversions of refunding certificates, for an explanation of the increase during the year in the interest-bearing debt. Since November 1, 1887, refandiag certificates issaed in 1879, under the act of February.26, 1879, have beeu presented for conversion into 4 per cent, bonds, as follows : Principal...............'. Accrued interest due thereon Total $25,460.00 9,122. 90 : : 34,582.90 For which settlement was made as follows: Four per cent, bonds issued on account of principal Four per cent, bonds issued on account of accrued interest Interest paid in cash Tot°al $25, 460. 00 7, 790.00 : $33,250.00 1, 332.90 : . 34,582.90 The certificates ptill outstanding amount to $129,620. The reduction in the annual interest charge, by reason of the changes during the year ended October 31, 1888, is as follows: " On bonds 'redeemed by purchase. Deduct the interest on $7,790 4 per cent, bonds issued Net reduction $3,512, 423. 00 311. 60 3, 512, 111. 40 During the twelve months ended October 31, 1888, the interest-bearing debt was reduced by the redemption of 4 per cent, bonds amounting to $50,412,650, $10,000 of which was purchased under t h e circular of September 22, 1887, and wais applied to ttie sinking-fund for the fiscal year 1888. The balance, $50,402,650, was purchased under the circular of April 17, 1888, and $26,839,650 of the amount was applied to the sinking-fund for t h e fiscal year 1889. Four and one-half per cent, bonds were also purchased under t h e circular of April 17, 1888, amounting to $33,242,600, and $12,143,150 o f t h e amount was applied., to the sinking-fund for 1889. The average rates of ,net premium paid for the bonds purchased for thesinking-fand were 6,952 per cent, for t h e 4 | percents., and 28.659 pei cent for the 4 per cents. Average rates for those purchased with the surplus were 7.558, and 27.017 for 4^ and 4 per cent, bonds, respectively. LXXXIV REFORT OF THE SECRETARY OF THE TREASURY. T A B L E H . — S T A T E M E N T SHOWING T H E CHANGES I N T H E INTEREST-BEARING D E B T OF THE UNITED STATES, ETC.—Continued. The redemptions and cancellations of United States bonds and seven-thirty notes during t h e twelve months ended October 31, 1888, were as follows : Seven-thirty notes of 1861 Seven-thirty notes of 1864 and 1865 Oregon war debt, act March 2, 1861... Five-twenties ot February 25, 1862 Ten-forties of 1864 J Consols of 1865, actof March 3, 1865 Consolsof 1867, actof March 3, 1865.. Consolsof 3868, act ot March 3, 1865 ..' Loan of July and August, 1861 (6 per cent.) Loan of March 3, 1863 (81s) (6 per cent.) .° Funded loan of 1881 (5 per cent.; Loan 01 J,uly and August, 1861 (continued at 3^ percent.).. Loanof March 3, 1863 (continued at3^ percent.) .., Funded loan of 1881 (continued at 3^ per cent.) Loan of July 12, 1882, 3 per cent... Funded loan of 1891, 4 | per cent., purch'ased under circular April 17, 1888 ; Funded loan of 1907, 4 per cent., purchased under circular September 22, 1887 Funded loan of 1907, 4 per cent., purchased under circular April 17, 1888 Total redemptions and cancellations . ... *. :... $5,000 3,400 1,150 *10,000 5,200 16,500 93,400 1,050 26,450 1,500 76,900 3,050 4,100 5,900 835,900 1,089,500 33, 242, 600 10, 000 50,402,650 84, 744,750 * By authority of the act of August 5, 1882, $500 was added January, 1888, to the amount outstanding on the debt statement of the loan of February 25, 1862, to adjust an erroneous settlement of $500 bond No. 1716. TABLE I.—STATEMENT SHOWING- M I ; AMOUNT OP GOLD AND SILVER COIN AND BULLION; Gold certificates. Gold. In Treasury, including bullion. In national banks. GOLD, SILVER, AND CURRENCY CERTIFICATES; UNITED STATES NOTES, AND NATIONAL AND STATE BANK NOTES IN OF EACH YEAR NAMED. In circulation; in other banks and in individual hands. In Treasury. Total. In national banks. Silver certificates. In circulation; in other hanks and in individual hands. Total. In Treasury. In national banks. THE UNITED STATES, AND DISTRIBUTION THEREOF AT THE CLOSE Subsidiary silver. Silver dollars. In circulation; in other banhs and in individual liands. In Treasury, including silver bullion. Total. In national banks. • In circulation; in other banks and in individual hands. Total. In Treasury. In national banks. In circulation; in other banks and in individual hands. June 30— 1860 1861 1802 1863 1SC4 1805 1866 180 7 1808 im 1870 im 187 2 187 3 187 4 187 5 187 6 187 7 187 8 187 9 188 0 $72,281,687.86 68.431,388.80 50, G88,448.36 55, 217, COt. 05 89, 390,471. 88 128,4C0,202.87 135,236,474. 62 126,145,427.20 103,171,661.25 14K, 506,389.95 198, 078, 537. €8 204,870,594. 15 247,028, 625.25 232,554,886.49 277,979,653.61 314,704,822.46 1881 1882 18*3 188 4 1885 188 6 188 7 188 8 Date. $3,370,378.40 5,019,638. 53 3,603,993.46 4,839, 240.54 5,306,202. CD 8,191,952.67 21,530, 846. 05 76.959.509.73 101,901,276.45 91.223.770.74 67,002,816.21 65,835,738.50 83,268, 947.07 104, SCO, 587. 67 93, 137,439.47 95, 709, 782.81 State-bank circulation. $59,347,933.74 73,928,465.67 GO, 782,464.18 70,000,062.41 72,804,737.43 76, 547,821.46 88, 974,516.33 148, 736, 209. 07 213.411.600.30 207.027.554.31 277,650,679.11 274,788,464.35 258,399,463. 68 253, Ch8,986.84 278,403, 241. 92 295,401,249. 70 Demand notes. $135,000, 000.00 147,379, 493.00 121,134, 90b*. 00 130, 056, 907.00 167,501, 472. 00 213,199, 977.00 245,741, 837.00 351, 841,20<i, 00 478,484, 538. 00 506,757, 715.00 542,732, 003.00 545,500, 97. 00 588, 697,036. 00 590,774, 461. 00 654,520, 335.00 705, 818, 855. 00 $442, 640.00 95,470.00 35,260.00 533,680.00 2,462,320.00 2,096,620.00 5,674, 640. 00 5,208,680.00 4,809,720. 00 4,247,500.00 4,506,420. 00 9,274,5C0.00 19, 469, 320.00 133,880. 00 40, 700. 00 23.400.00 8,100. 00 22,571,270.00 27,246,0^0.00 13, 593,410.00 55,129,870.00 30, 261, 380 00 20, 928, 500.00 1 $8,082,800, 00 $2,422,420. 00 7,122,350.00 11, 555, 760. 00 13,283,700.00 4, 359, 590. 00 11,953,6^0.00 18, 002, 280. 00 18,660,920.00 13,423,8c0. 00 9,101,160.00 8,628,520.00 11,412, lfiO. 00 14, 999, 500. 00 22,139, 090 00 12,112,230. 00 13, 671,600.00 4, 343, 720. 00 12, 642,180. 00 4,906,620. 00 16,872,780.00 7,302,200 00 12,179,520.00 20, 118,520. 00 16,021,460.00 8,876,220. 00 13,975,600. 00 1,304,220 00 7, 939, 560. 00 24, 340. 00 5,137,500.00 622, 020. 00 4,440,400. 00 588,6:0. 00 32, 791,590.00 27,015, 780.00 26,637,110.00 44,509, 530. 00 74,816,920.00 51,912,810. 00 41,446, 430. 00 34, 597, 945. 00 54,274,940. 00 30, 950,497. 00 68, 761, 9JO. 00 52, 332, 720. 00 | One and two year Compound-interest notes of 18 3. notes. Fractional currency. $10,947,860.00 18, 773, £80. .00 17, 678. 640. 00 30,489,640. 00 34, 547,120. 00 19,886,300 00 3 2 , OStS, 3 0 0 . 0 0 39,460,000.00 22,825,100.00 21,790,300.00 28, 681,400.00 41,572,600. 00 44, 367,000. 00 15, 413, 700. 00 8, 004,600. 00 5,782, 920. 00 5,037,120. 00 82,378,640. 00 98,392, G60.00 140,323,140. 00 131,174,245. 00 121,486,817.00 142, U23,150.00 $1,455, 520.00 2,052,470.00 6,584, 701.00 12,055,801.00 11,590,620. 00 15,996, 145. 00 23,384,680. 00 38,370,700. 00 27,861,450.00 3,425,133.00 28,732,115.00 $7,080. 00 $56,670. 00 357,810. 00 995,4(J0.00 4,794,169.00 945,590.00 38,165,139. 00 854,010.00 53,652, 050. 00 3,121,130.00 69,499,556.00 2,861,000.00 93,566,011.00 3,139,270.00 98,391,076. 00 1,812,290.00 80, 303, 935. 00 3, 535,479 00 138, C82,538.00 7,094,854.00 193,664,803.00 $1,462,600.00 2,406,950. 00 12, 374,270. 00 51,160,530.00 66,096, 710.00 88,610,831.00 119,811,691.00 139, 904,646.00 115,977,675. 00 145, 543,150. 00 229,491,772.00 National-bank notes. In national banks. In Treasury. In circulation; in other banks and in individual hands. $1,149,305. CO 1,592,201.00 2, 742, 54K 00 3, 997, 2:8. 00 4, 62(J, 921. 00 15,059,827.84 $175,250.00 33, 239, 916. 91 4,739,120.00 49,549,851.42 4, 689, 628. 00 65, 954, 671.10 5,711,137.00 6,077,153.00 90,384, 724 36 6,351,004.00 116,396,235.29 139,616,414. 27 8, 032,811.00 169,451,997. 52 7,797,925.00 184,523,282. 97 6,757,263.00 221,897,045. 77 6,343,213.00 6,906,432.00 254,639,063.35 *$1,149,305, 00 *1, 592,261.00 *2, 742, 548.00 *3, 997, 258. 00 *4,626, 921.00 16, 269, 079.00 $1,034, 001.16 41,276, 356. CO 3, 297, 319.09 15,420, 928. 58 69,660,408.0.0 95, 297, 083. 00 23, 631, 274.90 20, 326, 666.64 122,788,544.00 29,300v 445.71 152,047,685.00 32,657, 388.73 180, 306, 614. 00 31,289, 044.48 208,538,967.00 45.911, 360.03 237,191,906. 00 49, 205, 508.23 277,445,767.00 48, 620. 9C4.00 310,166,459. 35 Legal-tender notes. Total. In Treasury. $905,344. 88 $2,440,618.32 $1,654, 036.80 1,414,267.17 3,634,908.74 3, 714, 041.09 5,329, 577.71 2,653,408. 84 8, 642, 460. 45 6,363,605.72 3,506,449. 38 22,548, 678.90 2,952,653.04 3,850,213.37 45,034,639. 59 6,860, 505. 97 4,802,807.10 60, 055, 514, 93 8,903,401.36 2,031, 051.39 65, 315, 532. 25 24,350,481. 80 1,172,407.53 53,339,380. 67 27,247,696. 93 771,424. 05 52,067,940. 02 28,048,630.58 820, 868. SO 51, 559, 0&0. 62 28,486,1)01.05 51,616,444.54 857,854.41 29,600,720. 05 1, 085, 022. 61 44,575, 785. 34 31,236, 899. 49 1, 059, 390. 95 42, 643, 529. 56 28,8t>6, 946. 97 2,913,304. 43,2W), 685.21 26,963,934.20 2,813,138. SO 45, 770, 726. 00 26,044, 061. 55 2,819, 277.92 47, 543, 0.3G. 53 * In circulation; in In national banks. other banks and in individual hands. Total. Legal-tinder certificates. In banks. In Treasury. Total. Aggregate circulation, * Jane 30— I860 1861 1862 2363 2864 1865 1866 186 7 186 8 1869 1870 1871 187 2 187 3 187 4 187 5 187 6 187 7 1878 187 9 18>0 1881 1832....". 188 3 188 4 3885 1886 188 7 1888 $207,102,477.00 202,005,767.00 183,792,079. 0Q 238,677,218.00 179,157,717.00 142,919,038.00 19, 996,163.00 4,484,112.00 3,163,771.00 2,558,874.00 2,222,793.00 1,968,058.00 1,700,935.00 1,294,470.00 1,009,021.00 786,844.00 658,938.00 521,611.00 426,504.00 352,452.00 299,790.00 242,967.00 235,173.00 189,253.00 187,978.00 144,489.00 132,470.00 98, 697.00 82,372.50 $53, 040,000. 00 3,351, 019.75 780,999.25 472,603.00 272,162.00 208,432.00 141,723.00 123,739.25 106,256.00 96,505.50 88,296.25 79,967.50 76,732.50 70,107.50 66,917.50 63,962.50 €2,297.50 61,470.00 60,975.00 60,535.00 59, G95.00 58,985.00 58,440.00 57, 950, 00 57,445. 00 57,130.00 56,807.50 $89,879,475. U0 153,471,450. 00 42,338,710.00 3,454,230.00 1,123,630.00 555,492.00 347,772.00 248,272.00 198,572.00 167,522.00 142,105.00 127,625.00 113,375. 00 104,705.00 95,725.00 90,485.00 86,185.00 82,485.00 79,985.00 74,965.00 71,765. 00 69,765.00 68,035.00 66, 545.00 65, CO 5.00 63,835.00 $15,000,000.00 193,750,080.00 159,012,140. 00 122,394,480.00 28,161,810.00 2,871,410.00 2,152,910.00 , 768,500.00 593,520. 00 479,400. 00 415,210.00 367,390. 00 328,760.00 296,630.00 274,920. 00 259,090.00 242,590.00 230,250.00 220,960.00 213,620.00 207, 660.00 202,730.00 197,170.00 192, 880.00 189,530.00- $20,192,456.00 22,894,877. 25 25,005,828.7G 27,070,876.96 28,307,523.52 32,626,951.75 32.114.637.36 39,878,684.48 40,582,874.56 40,855,835.27 44,799,365.44 45,881,29Jv 67 42,129, 424.19 34,440,595.39 20,403,137.34 16,547, 768.77 15,842,610.11 15,590,892.70 15,481,891. 65 15,423,186.10 15,376,629.14 15,355, 999. 64 15,340,114.21 15,330,021.52 15.322.898.37 15,298,577.82 ! $5,467,195.00 11, 801,418.00 5, 393,982. 00 7, 992,791. 00 11,118,903.00 6, 855,569. 00 8, 627,790.00 8,304,586.00 11,715,483.00 13,861,463.00 16,877, 634.00 15, 759,847.00 12,789,623.00 8,286,701.00 7,090,249.00 5,296,382.00 6,277,246.00 8,217,062.00 8,809,990.00 9,945,710.00 4,034,416.00 2,362,585. 00 7,055,541.00 $10.753,777.00 30, 337, 528. 00 31, 547, 972. 00 22,215, 935.00 17,498,787.00 18,081,718.00 23,894,500.00 26,841,641.00 23, 999,544.00 26,955,726.00 32.272,068.00 42, 317,896.00 32,979,719.00 34, 238,402.00 30,463,349. 00 24,771,123.00 26, 358,332.00 27, 932,850.00 27,753,195.00 31,748,004. 00 27,871,246.00 32,131,028.00 30, 684, 525. 00 25, 420, 212. 00 25*130,431.00 $20,481,493.00 109, 800, 332. 00 244,464,741.00 264, 548,026.00 276, 870, 086. 00 273,667,966. 00 264,753,581.00 284,564,031.00 305,037,461. 00 312,006,749.00 307,993,476.00 298,228,649. 00 283,140,983.00 267,050,623.00 281,261,012.00 296,633,873.00 311,056, 846. 00 321,813,443.00 324,711,593.00 316,108,215. 00 302,818,647.00 276,499,973.00 276,980,513.00 251,434,991.00 220,182,349.00 $31,235,270.00 146,137,860.00 281,479,908.00 298,625,379.00 299,762,855.00 299, 742,475. 00 299,766,984.00 318,261,241.00 337, 664,795.00 347,267,061.00 351,981,032.00 354,408,008.00 332,998,336.00 317,048,872.00 324, 514, 284. 00 329,691,697.00 344,505,427.00 355,042,675.00 358,742,034.00 356,073,281.00 339,499,883.00 318, &76,711.00 311, 699,454.00 279,217,788.00 252,368,321.00 $32,181,213. 00 52,149, 686. 00 72,988,001, 00 52,345,895.00 27,428,335.00 41,233,100.00 31,037,362.00 12,931,030. 00 11,331,320. 00 39.050,855.00 578,548.00 84,055, 245. 00 70,889,906.00 75,689, 987.68 72, 020,120.73 74,391,903.62 33,020, 559.11 30,204, 092.45 34, 670,589.68 36,498,839.42 40,183,801.75 45, 047,378.94 41,118,316 79 28,783, 706. 79 53,345,975. 89 $10,042,756. 00 165,394,496. 00 197,783,494.00 100, 587,582.00 100,166,100. 00 80, 934,119. 00 94,573,751.00 122,137, 660. 00 122, 994,417.00 106,381,491. 00 103,108, 350. 00 87,492,895. 00 90, 836, 876.00 78,004,386.00 71,643,402.00 67,0."9,152. 00 . 64,470,717.00 58,728,713. 00 64,019,518. 00 73,832,458.00 76,917,212.00 79,701,352. 00 79,650, 783. 00 74,482,342.00 81,995,613.00 $375, 073, 234. CO 213,522, 246.00 130,008,811.00 218,850,120. 00 228, 405,565.00 233,767, 975.00 230,383. 887.00 220,931,310. 00 223,174,263. 00 210, 567, 654. 00 210, 313,102. t'O 2U4, 223, 440. 00 208, 045, 502. 00 206,069, 95S. 32 203,017,493.27 205, 229, 960. 38 249,189,739, 89 257, 748, 210. 55 247,990,908.92 236,349, 718. 58 229, 580, C02. 25 221,932,285.06 225,905,916.21 243,414,877.21 211,339, 397. U NOTE 1.—The aggregate circulation should be reduced by the total amount of gold, silver, aiid legal-tender certificates, to obtain the net circulation, as the funds which these certificates represeut are also included in the aggregate. NOTE 2.—The stock of gold coin and bullion and of silver coin and bullion in tJie United States at the close of each year from June 30, 1873, to June 30, 1888, is the amount estimated by the Director of the Mint. XOTE 3.—Of the fractional currency outstanding, it is estimated that $8,375,934 have been lost or destroyed, act of June 21, 1879. NOTE 4.—Tbe State bank circulation.includes only the notes of State banks converted to national banks. The amount of the outstanding notes of non-converted State banks is estimated at $148,434. PAGE LXXXV * $447, 300, 203. 00 431,006, 428. 00 400, 780, 306. 00 371, 7t<3, 597. 00 350, 000, 00X00 355,935, 194. 00 356, 000, 000. 00 356,000, 000. 00 357,500,000.00 356, 000, 000. 00 """$31, 515, ooo. oo 58. 000,000. <J0 382, 000, 000.00 57, 970,-000. 00 375,771,580. 00 32, 565,000.00 369,772, 284.00 53, 825,000. 00 359,764,332.00 46,245, 000. 00 346, 681,016.00 29,355,000.00 346, 631,016.00 14,235,000.00 346,681,016.00 11, 650,000.00 346,681,016. 00 13,245,000. 00 346,681,016.00 13, 060, 000.00 346,681,016.00 12,190,000.00 346,681, 016.00 29,585,000.00 346,631,016.00 18,250,000.00 346, 681,016.00 8,770, 000.00 346, 681, 016. 00 14,665,000.00 340,681,016.00 * Bullion in the mints and New York assay office. t Includes trade-dollars. $2 is, ouiYco 75.">, 000.10 445,000. 00 275, OuO.00 1,135,000. 00 570, 000. 00 1,450. 000. 00 300, 000. 00 275, 000. 00 75, 000.00 315,000. 00 195,000.00 200,000.00 250, 000. 00 310,000.00 SoO.'DOO. 00 £31, 730.-000. 00 58, 7-n, yiJi». dO 58, 415, U)J. 00 32, 840. 000. t!0 54, 900, 000. 00 46,815, 000. 00 30, 805, 000. 00 14, 595,1)00. 00 11, 925, 000. 00 13, 320, 000. 00 13, 375, 000. 00 12,385, 000. 00 29,785,000.00 18, 500, 000. 00 9, 080, 000. 00 14,915,000.00 $902,401, 673.94 1, U20, 805, 987. 17 994, 300, 929. 69 966, 370,834.89 1.018.G92, 768. f4 1,0S2, 489, 759. 27 1,104, 918,348. 11 1. 242, 800, 929. 70 1,440,502,4 il. 65 1, 515, 865, 693.10 1, 678, 775, 068.14 1, 733, 719, 031.134 1,863.259,654.21 1, 842,843, 345.52 3, 925, 259,882. 37 2,093,5G2,072.17 J Trade-dollars ($6,000,000) deducted. EXPLANATIO]^ OF DIAGRAM. The diagram shows the amount in millions and tens of millions—a million being indicated by each space between the lines. The reason for its non-extension beyond the year 1878 is t h a t a new element was introduced into the circulating medium of the country in this year, just as in 1862 t h e introduction of the legal-tender notes brought about an entire change in the monetary system of the United States. The first item upon the diagram designates the amount of the national-bank notes in actual circulation, excluding therefrom the notes held by national banks and those which had become a charge upon the Treasury, owing to the deposit of legal-tenders made in order to retire these notes from circulation. The second item shows the amount of gold coin and bullion in the United States ' Treasury, held as a reserve for the redemption of the legal-tender notes and for t h e redemption of the gold certificates. These amounts being deducted, the balance will show the free gold and bullion contained in the Treasury. The third item shows the reduction or increase o f t h e public debt, as shown by t h e monthly statement published at the end of each month. The fourth item shows the amount of legal-tenders held in the Treasury, and, with 'the fifth item, which must be first deducted, shows the amount of these notes applicable to the redemption of national-bank notes. The sixth item shows the amount of gold certificates actually in circulat;ion, and which had become a charge upon the gold coin and bullion in the Treasury. The seventh item shows t h e amount to the credit of the national-bank redemption ^und. This fund represents the amount of unredeemed national-bank notes, which, so long as they remain outstanding, inure to the benefit of the Treasury. The eighth item includes the subsidiary coin, silver bullion, and standard silver dollars in the Treasury, the issue of the standard dollar having resulted in the retirement into the Treasury of the^subsidiary silver, which would otherwise have remained in circulation. The ninth item shows the amount of silver certificates actually outstanding, which had become a charge upon the standard silver dollars held in tha Treasury. The tenth item.shows the total amount of the public debt, less the cash in the Treasury, at the close of each period given. LXXXVI DIAGRAM Showing the amount of NATIONAL BANKNOTES in cirhilation, the amount of GOLD, SILVER and TOTTED STATES NOTES intlie TREASURE of the UNITED STATES, with the corresponding liability in outstanding GOLD, SILVER and CURRENCY Certificates, and the Public Debt. 1878 1879. * NationalBankNotes ft. +United 1888 Millions Millions StatesNotes Currency Certified Go Id Certificates. * KB.RedemptFund.. SILVER^ _ Silver Certificates Public Debt * T/imnotes of liquidating, reducing dfuL failedNationalJfa/iks, in ci/tulatiowa/id the notesmeld' byNational Banks are not included herein. + ITitissue of l7&Ued SUttis Notes is fitted by Utw at f 346, 6SJ, 0t6. -SeeMctMay 31 f87$. * ffekt $yTreasurer U S. for redemption, of notes in circulation, of Iti/m^atiztg, reducing a ri d failed National Banks. SILVER COIN IN THE TREASURY. LXXXVM T A B L E J.—^STATEMENT O F T H E STANDARD SILVER DOLLARS, SILVER BULLION AND S U B S I D I A R Y S I L V E R C O I N I N T H E T R E A S U R Y A T T H E E N D O F E A C H M O N T H FROM D E C E M B E R 3 1 , 1 8 7 7 , T O O C T O B E R 3 1 , 1888.* Standard silver dollars. 1877—December 3 1 . . 1878—January 3 1 \ . . . February 28 . . March 30 . . . . . April 30 Mav31 J u n e 29 July 31 AugustSl September 30 . October 3 1 . . . . November 30 . Desember 3 1 . . Silver bullion. Subsidiary silver coin. Total. $810,561 3,169. 681 5,950,451 7, 718, 357 9, 550,236 31,292,849 12,155,205 13, 397, 571 14,843,219 16, 704, 829 $1,736, 984. 89 2, 827, 368.07 2, 955, 577.65, 3, 534, 480.53 7, 350, 710.68 5,891, 204.95 7, 341, 470. 84 7, 665, 760.19 8.982, 239.07 9, 634, 034.48 8,352, 042.21 10,159, 49L41 ' 9,439, 46L25 $5, 532,283.95 5, 626,541.22 6,261, 437. 76 7,139, 637.34 7, 029,306. 77 8,103, 228.02 6, 860,505.97 7,079, 667.36 : 6,478,642.22 6,143, 903.02 6,323, 132.31 6,009, 83443 6, 031,804.52 1879—January 31 . . . February 2 8 . . . March 31 April 30 May 31 J u u e 30 July 31 . . . . . . . August 31 September 30. October 31 November 30.. December 3 1 . . 17,874,457 19, 505,767 21, 558, 894 23, 694,563 26,181,045 28,147,351 29,151, 801 30,678,464 31, 559,870 32,322, 634 32, 839,207 33,168, 064 10,347, 889.50 9, 837, 402.62 8, 688, 260.74 6,949, 046.43 5, 672, 655.55 5,092, 565.91 5,112, 223.82 4,904, 611.89 4, 557, 504.31 3,537, 224.31 4, 323, 097.69 4,492, 4 2 L 1 9 6,143, 449.13 6,278,490.66 6,428, 185.06 6,621,940.39 6, 813,589.32 8,903,401.36 12, 731,765.97 15, 236,724.48 16, 814,308.94 17, 755,986.76 18,432, 478.13 18, 881,629.15 34, 365,795.6S 35,621, 660.2§ 36, 675,339. 8® 37, 265,549.82 38, 667,289.87 42,143, 318.27 46,995, 790.7S 50,819, 800.37 52, 931,683.25 53, 615,845.07 55, 594,782.82 56, 542,114 34 1880—January 31 . . . February 2 8 . . . March 31^. April 30 May 31 JuneSO.. July 31 August 31 September 30 . October 31 November 30 , December 3 1 . . 34,961,611 36,972,093 38,780,342 40,411, 673 42,778,190 44,425,315 46,192, 791 47,495,063 47,654,675 47,084,459 47,397,453 48,190,518 4, 888, 035.97 4,525, 306.25 4,086, 839.58 5,007, 331.04 4,853, 587.99 5,124, 536.42 6, 081, 647.91 6,380, 258.46 5, 557, 759.74 6,043, 367.37 6,255, 389.81 6, IttS, 224.05 20,204, 809.83 21,179, 312.32 21,989, 814.48 22, 767,672. 95 23,577, 091.99 24, 350,481.80 24, 975,713.52 25,152, 971.89 24, ?99,925.40 24,629. 489.89 24,653, 530.37 24, 769,057.32 60,054,456.8® 62,676, 711.57 64, 856,996.06 68,186, 676.9S) 71,208, 869.98 73, 900,333.22 77, 250,152.4S 79, 028,293.35 78, 012,360.14 77,757, 316.26 78,306, 373.18 ' 79,142,799. 37 1881- - January 31 . . . February 2 8 . . . March 31 April 30.. May31 JuneSO J u l y 31 August 31 September 30 . October 31 November 30 . December 3 1 . . 50,235,102 52,939,460 55,176,358 58, 044,-826 60,518,273 62, 544, 722 64,246,302 65, 948,344 66, 092, 667 66, 576, 378 68, 017,452 69, 5fc9,937 6, 704,197.36 5, 356,308.00 4,017,770.08 3,863,582.74 3,457,192.85 3, 309,949.10 2,962,277.52 2, 732, 862.69 2, 632,184.67 3,424, 575.15 3,088,709.63 3, 607, 829.86 25,490, 914.88 25, 813,058.08 26, 283, 891.96 26,493, 612.56 26, 841,956. 74 27, 247,696.93 27,295,486.63 27, 042,806.63 26, 313,113.63 25, 984, 687. 76 25,918,252.00 25,963,64L48 82,430, 214.24 84,108, 826.08 85,477, 820.04 88,402, 021.30 90, 817,422.6®. 93,102, 368.03 94, 504066.15 95, 724,013.33 95, 037,905.30 95, 985,640.91 97, 024,413.63 99,161 408.34 1882—January 31 . = o ' February28.o= March 31 April 30 May 31 JuneSO July 31 August 31 loeptember 30 . October 31 November 30 . December 3 1 . . 72,421, 584 75,138, 957 78,178, 583 83,595,056 84,606, 043 87,153, 816 88, 840,899 91,366,240 92, 228,649 92,414,977 92, 940,582 94, 016, 842 3, 258,926.18 2,806, 143.12 4,440, 061.97 3, 239,033.43 3, 793,664.11 3, 230,908.36 2, 816,269.83 2, 730,716.27 3, 343,565.26 4, 012,503.27 3, 769,219.77 4,468, 193.10 26, 567, 873.37 26, 869, 906.26 27,187,680.67 27,439,183.93 27, 755, 923.33 28, 048, 630. 58 28,153, 956.16 27, 990,387. 75 27,426,139.93 26,749,432.45 • 26,544,544 43 26,521,692.20 102, 248,383.55 104,815, 006.38 109, 806,925. 64 112, 273,273.36 116,155, 630.44 3.18,433, 354.94 119, 811,124.9© 121, 887,353.02 122, 998,354.19 123,176, 912.72 123,254, 346.29 125, 006,727.3® 1883—January 31 ., • February 28. March 31 . . . . April 30 May 31 , J u n e 30 , 97, 530,969 ' 100,263,444 103,482, 305 100,366, 348 108, 898, 977 111, 914, 039 3, 761, 958.12 3, 974,114.04 3,943,467.30 3,47.8, 750.15 4,157, 217. 76 4, 482, 216.29 * See diagram. $7,260, 268.84 8,453, 909.2§i 9, 217,015.41 11,484, 678.87 17, 549,693.4i 19,944, 883.97 21, 920,933.81 24, 295,663.5§~ , 26, 753,730.2S 27, 933,142.50 28,072, 745.52 31, 012,544.84 32,176, 094.77 27,135, 244.74 128,428,17L8@ 27, 507, 275. 78 ] 131,742,833.82 27,865,993.79 " 135,291,766.03) 28,068, 628. 88 137, i43, 727.03 141,359,390.9@ 28, 303,196. 20 144,882,236.34 23,486,001.05 LXXXVIII REPORT OF T H E SECRETARY OF T H E TREASURY. TABLE. J . — S T A T E M E N T OF T H E STANDARD S I L V E R DOLLARS, S I L V E R BULLION, AND SUBSIDIARY S I L V E R C O I N , ETC.—Contiuued. Standard silver dollars. 1883—July 31 , A u g u s t 31 . . . . . . S e p t e m b e r 29 O c t o b e r 31 November 30..-. D e c e m b e r 31 — S u b s i d i a r y silv e r coiu. Total. 0.57, 320, .587 036, 768, 449, 486, 694 107, 936, 624, 534 638 559. 911. 364. 279. 372. 23 45 29 86 34 93 $28 058,141.67 27, 819, 711. 70 26,750,161.33 26, 712, 424 15 26, 969, 614.40 27, 224,126. 33 $145,601,831.90' 146,834,468.15 146, 445, 444 42 147, 685, 239. 01 149, 362, 859. 74 .151,207,884 26 1884—January 3 1 . . ' . . . . F e b r u a r y 29 March si A p r i l 30 M a y 31 J u n e 30 JulySl A u g u s t 30 ' S e p t e m b e r 30 O c t o b e r 31 N o v e m b e r 29 D e c e m b e r 31 123, 474 126, 822; 129, 066, 130, 3 U, 132, 626, 335,560, 137, 692, 140, 615, 142, 058, 142, 926, 144, 745, 146, 502, 674, 919, 043, 150, 623, 055, 003, 723, 934, 646, 778, 716, 432. 92 912.85 824 61 842. 97 15'8.03 498. 27 609. 95 420.00 404 83 496. 80 818 90 055. S3 28, 014, 4 1 4 7 6 28, 490, 906.91 28, 866, 556. 33 29, 358, 480. 47 .29, 377, 206. 41 29, 600, 720.05 29, 797, 485. 76 29, 659, 003. 38 29, 474, 100. 89 29, 346, 757. 24 29,143, 283. 48 29,194, 355. 52 156.163, 595.68 160, 233, 218.76 162, 916, 481. 94 164, 623, 388. 44 166, 627, 117.44 169,217, 134 32 172, 093, 214. 71 174, 998, 145, 38 176, 467, 352, 75 176,919, 979,13 178, 667, 207. 38 180, 413, 275. 85 3885—January 31 F e b r u a r y 28 ' M a r c h 31 A p r i l 30 M a y 29 J u n e 30 J u l y 31 AugustSO S e p t e m b e r 30 . . . O c t o b e r 31 N o v e m b e r 30 December 3 1 . . : . , 150,632, .153; 561 156, 698, 159, 441, 162, 244: 165, 413, 166, 499, 166, 854, 165, 483, 163,817, 165, 568, 165, 718, 613, 991, 887, 042, 098, 038, 944, 766, 916, 840, 583, 797, 582. 23 129. 93 493. 52 186. 86 143. 86 885. 52 837. 32 196.12 122.84 536. 45 956. 42 040. 84 29, 901, 104. 54 30,244, 836.12 30. 632, 326. 20 30, 944, 048. 81 31, 694 364,80 31, 236, 899. 49 25, 355, 020. 23 24, 724, 287. 43 23, 641, 893. 79 22, 965, 535. 70 27, 920, 309. 44 ^27, 796, 430. 88 185,146, 840. 77 187, 796, 973. 05 191,218, 301. 72 194 427; 269. 67 198, 037, 363. 66 200, 688, 897. 01 195, 799, 805. 55 195, 344, 698.55 193,041, 737.63 190, 623, 414 15 197, 072, 283. 86 197,311, 66L 72 2886 - J a n u a r y 3 0 . . . . . . F e b r u a r y 27 . . . . M a r c h 31 AprilSO May29 June 30...: JulySl A u g u s t S l . '. S e p t e m b e r 30 . . . October 3 0 . . . s . . N o v e m b e r 30 D e c e m b e r 31 169, 083, 171,805, 174, 700, 175, 928. 178, 252, 181, 253, 181, 523, 181, 769, 181,262, '382,931, 384,911 .188, 506, 658, 612, 271, 556, 947, 092, 786, 268, 758, 807, 091, 739, 783. 44 963. 08 104 42 522. 03 761.61 198.45 069. 56 940. 39 393. 89 948.52 383.17 376. 81 29, 013, 993. 71 28, 811, 037. 49 28, 822, 637. 63 28, 864, 482. 89 28,912, 277,14 28, 904, 681.66 28,581, 624. 69 27, 956, 991. 95 26, 899, 745, 20 26, 300, 335. 88 25, 808, 067. 32 25, 660, 935. 44 201, 756, 162.15 203, 229, 91L57 205, 794, 727. 05 207,349, 506,92 209,112, 083. 75 213, 250, 446.11 213, 894, 618.25 212, 995, 389. 34 211,920. 732. 09 213,039, 515.40 214,811, 388,49 218,906, 550. 25 2887—January 31 F e b r u a r y 28 M a r c h 31 AprilSO MaySl J u n e 30 J u l y 30 AugustSl S e p t e m b e r 30 . . . O c t o b e r 31 N o v e m b e r 30 D e c e m b e r 31 — 193,963, 198,112, 201, 672, 205, 788, 209, 052, 211,483, 211, 528, 213,212, 213, 043, 214175, 215,882, 218,917 877, 700, 779, 171, 248, 982, 092, 024, 910, 721, 026, 232, 039.10 182. 85 858. 28 926.35 351. 93 472.43 35.5. 94 420.16 872. 64 996.19 770. 01 636, 66 26, 323, 524.61 26, 482, 472. 31 26, 601, 613. 74 26. 891, 076. 57 27, 064, 742. 87 26, 977, 493. 79 26,691, 105. 74 26,148, 531.34 24,984, 219.17 24, 468, 13.5.17 2 4 158, 003. 77 24, 327, 528. 62 225.164, 346. 71 229, 295, 415.16 233, 053. 844,02 236, 85i; 824. 92 239, 365, 661. 80 242, 443, 936. 22 243,312, 352. 68 244, 385, 399. 50 242, 938, 887. 81 243, 365, 663. 36 244, 067, 216, 78 246, 477, 704, 28 3888—Januarv 31 F e b r u a r y 29 M a r c h Sl AprilSO MaySl J u n e 30 :.. JulySl ......... •AugustSl S e p t e m b e r 30 . . . O c t o b e r 31 22.3, 918, .380 227, 947, 493 232, 037, 274 236,156, 394 210,587,970 243, 879, 487 245, 798, 765 247, 859, 402 248, 791,.534 249, 979, 440 559, 522. 81 656, 130.37 375, 953. 09 324, 419.45 802, 01-8.13 142, 731. 54 579, 760. 25 572, 910.18 4.281, 730.17 4 369, 971.76 25, 03,9, 973. 04 25, 355, 431. 80 2.5, 566, 279. 65 25, 750, 228, 33 25. 878, 872, 04 26, 051, 741.19 26,- 034, 462,25 25, 746, 758. 95 24,738, 695. 68 24, 088, 768.91 '252,497, 875, 85' 256, 959, 055.17 260, 979, 506, 74 205, 231, 041. 78 269, 268, 860.17 274, 073, 959. 73 276, 412, 987. 50 278,179, 071.33 277,811, 959. 85 278, 438. 180. 67 $113, 114 IU, 116. 117, 119, Silver bullion. T A B L E K . — S T A T E M E N T SHOWING T H E A N N U A L A P P R O P R I A T I O N S MADE B Y CONGRESS F O R E A C H F I S C A L Y E A R F R O M 1880 TO 1889, 2d session ^ 1st session 2d session iBt session 2d session 2d session 3d session 1st session 46tb C o n g r e s s . 46th C o n g r e s s , 47th Congiess,' 47th C o n g j c s s . 48ih C o n g r e s s , 48th C o n g r e s s . 49th C o n g r e s s , 49th C o n g r e s s Fiscal year Fiscal year Fiscal year Fiscal year Fiscal year F i s c a l :^ear Fiscal vear Fiscal year 1887, 1888. 1886": 1885. 1884, 18i^3. 1881, 1882. T o s u p p l y deficiencies for t h e s e r v i c e of t h e v a i i o u s b r a n c h e s of t h e G o v e r n ment $6,118, 085.10 F o r legislative, executive, a n d j u d i c i a l e x p e n s e s of the Government 16, 532, 008. 93 F o r s u n d r y civil e x p e n s e s of t h e . G o v e r n m e n t 22, 503, 508.23 F o r s u p p o r t of t h e A r m y . . 26, 425, 800. 00 F o r the naval service 14, 405, 797. 70 For t h e Indian service 4, 657, 262.72 F o r rivers a n d harbors 8, 976, 500. 00 F o r forts a n d fortifications. 550, 000.00 F o r s u p p o r t of M i l i t a r y Academy l!. 316, 234 28 F o r s e r v i c e of Post-Office Department 3, 883, 420. 00 F o r invalid and other pensions, i n c l u d i n g deficiencies 41, 644, 000.00 F o r consular and diplomatic service 1,180, 335. 00 F o r s e r v i c e of A g r i c u l t u r a l Department 253, 300. 00 F o r e x p e u s e s of t h e Dist r i c t of C o l u m b i a 3, 425, 257. 35 F o r miscellaneous #4,959,332.01 Totals. $5,110, 862. 39 $9, 853, 869. 30 $2,.832, 680. 04 *$3, 332, 717.30 $137,000. 00 20, 809, 781. 46 -20, 772, 720. 67 20, 924, 492. 42 22, 23, 16, 5, 14; 22, 23, 25, 5, 369, 840. 96 724, 718.69 786, 847. 79 234, 397, 66 26, 316, 529. 85 24, 474 710. 97 19, 938, 281.05 5,403,330,51 22, 39"^, 616. 90 3,972,000.00 419, 930. 93 315,043.81 17, 797, 397. 61 20, 322, 907. 65 20, 763, 842. 55 21,5.56,901.65 21, 495, 660. 70 25, 425, 479. 45 27,032,099.38 14, 903, 558. 98 5, 219, 603. 91 18, 988, 875.00 375, 000. 00 23, 713, 404 22 2 4 681, 250, 00 15, 954, 247.23 5, 388, 655.91 25, 961, 904.12 2 4 034 052.50 121,280,766.93 5, 773, 328. 56 670, 000. 00 22, 346, 749.74 24, 454, 450. 00 t 8 , 933, 856.12 5, 903,151. 26 14, 948. 300. 00 700, 000. 00 725,000. 00 650, 658. 49 753, 057. 21 489. 556. 72 561, 262, 84 464, 900, 00 59, 876. 69 335,557.04 318, 657. 50 314, 563. 50 309, 902.14 297, 805. 00 322,435. 37 • 2,152, 358. 00 1,902,177.90 68, 282, 306, 68 1,191, 435. 00 Indefinite 1st session 50th C o n g r e s s , Fiscal year 1889. $13, 572, 882, 61 22, Oil, 222. 87 26, 687, 800. 00 1 4 566, 037. 55 4, 587, 866. 80 11,451,300.00 575, 000. 00 Indefinite Indefinitie..... $21,190, 995. 61 - a >' PO o Indefinite. Indefinite Indefinite 116. 000, 000, 00 §86, 575, 000. 00 1120,810,000,00 60, 000, 000.00 76, 075, 200, 00 83,152. 500. 00 81, 758, 700. 00 1, 25S, 655. 00 1, 296, 255. 00 1, 225,140. 00 1, 242, 925. 00 1, 364, 065, 00 1, 429, 942. 44 1, 428, 465. 00 o Ul PO 335, 500. 00 427, 280. Ob 405, 640, 00 480,190.00 580, 790. 00 654,715.00 1, 028, 730. 00 1,715,826.14 3, 379, 571. 44 1,128, 006.15 3,496,060.47 5, 888, 993. 69 3, 505, 494 97 ;i, 806,438. 75 3, .594, 255. 54 7,800, 003. 86 3, 622, 683. 20 2, 268, 383,15 3, 721, 050. 99 10,184, 570. 90 4 284, 590. 66 4,694, 635. 33 5, 056, 678. 98 10,129, 501. 65 155, 830, S41. 32 I 179, 578, 999. 86 251,428,117.57 387, 911, .566.17 170, 608,113.00 2\ 209, 659, 382. 91 193,035,861.13 * N o t i n c l u d i n g $6,150,061,98 a p p r o p r i a t e d f o r t h e n a v a l s e r v i c e for s i x m o n t h s e n d i n g J u n e 30, 1885. t F o r s i x m o n t h s e n d i n g D e c e m b e r 31, 1884. '. $4, 385, 836.10 INCLUSIVE. 337,451,397.77 H 245,020,172.89 j I n c l u d e s $6,150,061.98 for s i x m o n t h s e n d i n g J u n e 30, 3885. ^ A n d r e a p p r o p r i a t i o n of u n e x p e n d e d b a l a n c e s , e s t i m a t e d a t $38,000,000. y A n d r e a p p r o p r i a t i o n of u n e x p e n d e d b a l a n c e s , e s t i m a t e d a t $66,000,000, X X X XC REPORT .OF T H E SECRETARY OF T H E TREASURY. TABLE L.—STATEMENT OF T H E N E T R E C E I P T S ( B Y WARRANTS) DURING THE F I S C A L YEAR ENDED J U N E 30, 1888. Customs: 3 ' Quarter ended September 30, 1887 $62,588,115.92 Quarter ended December 31, 1887 49,433,018.08 Quarter ended March 31, 3888. 56, 217, 548,18 Quarter ended June 30, 1888 : 50, 852,491.45 $219,091,173.63 Jnternal revenue: ., Quarter ended September SO, 1887 .: Quarter ended December 31,3887 Quarter ended March 31, 1888 Quarter ended JuneSO, 1888 Sales of publiclands: Quarter ended September 30, 1887 Quarter ended December 31,1887 Quarter ended March 31, 3888 Quarter ended June 30, 1888 Tax on circulation Quarter ended Quarter ended Quarter ended Quarter ended of national banks: September SO, 1887...: December 31,1887 March 31, 1888 : June 30, 1888 : . • 31,422,039.49 31,049,183.89 27,426,159.13 . 34,399,489.47 11, 202, 017. 23 ..; 932,411.69 8,901.21 818,567.27 8, 686.68 3,748,566,85 Repayment of interest by Pacific railroads: Quarter ended September 30, 1887 ' Quarter ended December 31,1887 'Quarter ended March 31, 1888 Quarter ended June 30,1888 168,542, 55 137,690.88 155,006.14 220,457.38 Customs fees, fines, penalties, and forfeitures: Quarter ended September 30,1887 Quarter ended December 31,1887 • Quarter ended March 31, 1888 Quarter ended June 30,1888 273, 201.10 196,131.21 224,341.87 403,774 02 681, 696, 95 1, 097.448.20 Fees^consular, letters patent, and kmds: Quarter ended September 30, 1887 Quarter ended December 31,1887 Quarter ended March 31,1888 Quarterended June 30,1888.. 1, 007,660,36 705, 704. 65 825,71439 894,369.59 3,433, 448. 99 Proceeds of sales of Government property: Quarterended September 30, 1887 > Quarterended December 31,1887 Quarterended March 31, 1888 Quarter ended June 30, 1888 84 926.87 100,773.48 124,255.06 55,921.85 365, 877.26 Profits on coinage: . Quarterended September 30, 1887 Quarter ended December 31, 1887 Quarterended March 31, 1888 Quarter ended June 30, 1888 : ... 1,113,855.90 2, 644,382. 29 2,508,477.09 3,121,119.20 9, 387, 634 48 Revenues of District of Columbia: Quarterended September 30, 1887 Quarterended December 31, 1887 Quarter ended March 31, 1888. ,' Quarter ended June 30, 1888 356.400.11 1,359,160.28 129,237.99 805,.55L93 ^fiscellaneous: Quarter ended September 30,1887 Quarter ended Deceraber 31, 1887 Quarterended March 31, 1888 Quarter ended June 30, 1888... '. ^ Total ordinary receipts, exclusive of loans Heceipts from loans, certificates, aud notes 1,780,353,60 1,059,408.36 761,004 83 1,710,222,09 Totalreceipts Balance in Treasury tftine 30,1887 Grand total 124,296,871.98 2, 620, 890. 23 3,419, 226.10 . 2,436,566.36 2, 725, 334 54 2,650,350.31 5,310,988.88 379, 266,074, 76 285, 016, 650.00 664,282,724 76 512,851,43436 , .' , 1,177,134,159.12 NET DISBURSEMENTS, 1888. ' XCl T A B L E M.—STATEMENT OF T H E N E T DISBURSEMENTS CBY WARRANTS) DURING T H E FISCAL YEAR ENDED J U N K 30, 1888. CIVIL. Congress..: Executive Judiciary 1 '. Government in the Territories Sub-treasuries Public land offices Mints and assay offices . . . $5,892,115.81 10,883,470,35, 4, 581, 828.63 281,176. 55 364, 818.4^ 62.3.312.22 ^ 225,612.01 , Total civil $22,852,334 03. I FOREIGN INTERCOURSE. Diplomatic salaries Consular salaries Contingent expenses of foreign missions Contingencies of consulates Publication of consular and commercial reports Judgments Court of Alabama Claims Spanish indemnity Belief, protection, and rescuing shipwrecked American seamen International exhibitions Emergencies arising in the diplomatic and consular service Miscellaneous i t e m s . . . . ^» 311,195, 56 458,404 88 65, 336, 53 156, 876. 36 14, 605. 69 248,998. 6^ 28,181.7(! 32,151. ll 63, 500. 00 25, 227.12 188,983,7(1 Total foreign intercourse . \, 598, 461.40 MISCELLANEOUS. Mint establishment Life-saving service Revenue-cutter service Steamboat-inspection service Engraving and printing Coast and Geodetic Survey Light-house establishment Marine-hospital establishment Custom-houses, court-houses, post-offices, etc Pay of assistant custodians and janitors for public buildings Fuel, lights, and water for public buildings Furniture and heating apparatus for public buildings Vaults, safes, locks, and plans for public buildings Refunds, reliefs, etc., under customs laws Collecting revenue from customs: For the year 1888 $6, 481, 599.57 For prior years 674, 588. 20 Detection and prevention of frauds upon the customs revenue 20,133.17 1,062,500.76 978,494. 85 885,233.25 268, 826.27 957, 768. 37 487, 428.13 2, 566, 733, 51 529,627.43 . 3,565, 028. 72 402,000. 00 665,716,83 304, 617. 04 44, 735. 92 17,144.16 7,176, 320. 94 Refunding excess of deposits, etc 4,505,404.83 Debentures and drawbacks under customs laws 3, 341, 916,79 Compensation in lieu of moieties .' 13,264, 36 Expenses of regulating immigration 159, 836,10 Salaries, shipping service 54,370,14 Services to American vessels 23,405, 51 Expenses, seal fisheries in Alaska SO, 184.52 Assessing and collecting internal revenue 3, 626, 038,91 Paper for internal-revenue stamps 43, 038, 67 Redemption of internal-revenue stamps 25, 998, 26 Punishing violations of internal-revenue laws 24,456.96 Ref\inds, reliefs, e t c , under internal-revenue laws 34, 060. 31 Allowance or drawback under internal-revenue laws". 55,698.25 Payment of judgments. Court of Clairas 701, 040, 30 ' Preventing the spread of epidemic diseases 56,158.24 Expenses of national currency 3, 462. 81 Distinctive paper for United States securities. 44, 609. 97 Suppressing counterfeiting and other crimes 59, 960, 79 Transportation and storage of silver coin 57,375,23 Propagation, etc., food fishes.. 253, 370.65 Expenses under Smithsonian Institution 93, 297,49 Contingent expenses, independent treasury 83, 856. 31 Sinking funds. Pacific railroads „. ' 1,331,641.25 Mail transportation. Pacific railroads 1,208, 244. 51 Centennial Exposition, Ohio valley 147, 750. 00 ' International Medical Congress , 10, 000. 00 District of Columbia: Expenses, 50 per cent, payable by the United States. $3, 983, 377.28 Water department, payable from the water fund 210, 248. 38 Special trust lunds 84,487.82 4,278,113.48 ^ XCII R E P O R T OF T H E SECRETARY O F T H E TREASURY. TABLE M . - -STATEMENT OF T H E N E T DISBURSEMENTS ( B Y WARRANTS) DURING THE, FISCAL YEAR E N D E D J U N E 30, 1888—Continued.' MISCELLANEOUS—Continued. Buildings and grounds in Washington under Chief Engineer State, "War, aud Navy Department building Furniture, fuel, light, etc.. State, War, and Navy Department building. Completion of Washington Monurnent Various monuments and statues :.. Support and treatment of transient paupers Increasing water-supply, Washington, D . C 1 Army Medical Museum and Library Department of Agriculture , Deficiency in the postal revenues Capitol building and grounds Building for Library of Congress Interior Department building Pension Office building Government Hospita;! for the Insane Columbia Institution for the Deaf and Dumb , Freedmen's Hospital and Asylum Howard University ^ National Museum Surveying public and private lands Contingent expenses land offices : Geological Survey ....'. Hot Springs Reservation. Arkansas Deposits by individuals for surveying public lands Repayment for lands erroneously sold * Swamp lands and swamp-land indemnity Depredations on public timber Protecting public lands Five, two, and three per cent, funds to States Photolithogi-apbing for the Patent Office , Official Gazette, Patent Office Miscellaneous items $153, 917. 64 239, 275.04 84,146.62 64,431.39 ^ 24,482.36 ' 16,833.26 283,279. 51 142, 544. 55 1, 434. 373. 90 3, 056, 037.13 338,153.14 112, 751. 63 5, 780. 00 52, 609. 05 271, 251. 96 57, 500. 00 50, 543.16 24, 500. 00 3 62, 421. 86 137,194.14 346, 556. 60 463,459.59 7, 500. 00 91,135. 95 58, 368. 69 49,503.41 86, 3.59. 59 107, 485.38 2.58, 401,80 79, 509. 57 41,869.00 245, 758. 63 Total miscellaneous , $48, 5t 6, 465. 37 INTERIOR DEPARTMENT. Indians . Pensions •Total Interior Department 6, 249, 307. 87 80,288,508.77 *. , 537, 816. 64 MILITARY ESTABLISHMENT. Pay department Pay department, bounty and miscellaneous Commissary Department Quartermaster's Department Building for cavalry and artillery school. Fort Riley, Kans Purchase and repair of building at New York for Quartermaster's Department Medical department : Ordnance department Armories and arsenals Military Academy : Improving rivers' and harbors Fortifications Construction of military posts, roads, etc National cemeteries, roads, etc Damages by improvement of Fox and Wisconsin Rivers Expenses of recruiting Contingencies of the Army Signal Service ., Expenses of military convicts '. ".. Publication of official records of the war of the rebellion , Support of the National Home for Disabled Volunteer Soldiers Support of Soldiers' Home Soldiers' Home permanent fund and interest account Support of military prison. Fort Leavenworth, Kans Army and Navy Hospital, Hot Springs, Ark Yellowstone National Park , Claims, re-imburseraents, reliefs, etc Miscellaneous items Total military establishment 12, 368, 021,13 l, 199, 562, 85 1, 523, 940. 58 8,151, 703. 34 197, 500. 00 92, 823. 00 374,115. 76 1,192, 805. 60 233, 751.05 97, 814 76 7, 004, 348. 29 134, 760. 52 346, 391.98 227,183. 35 Ill, 746.12 101,167.50 11, 632,19 755,946.71 5, 378.02 48,287.19 1,969, 056.00 374, 014. 54 321, 804. 84 85. 777,49 17, 493, 35 20, 000, 00 1, 531, 505. 79 23, 812.16 ,. 38, 522, 436.11 NET R E C E I P T S AND DISBURSEMENTS, 1888. XCIII T A B L E M.—STATEMENT O F T H E N E T DISBURSEMENTS ( B Y W^ARRANTS) D U R I N G ' T H E FISCAL YEAR ENDED J U N E 30, 1888—Continued. NAYAL ESTABLISHMENT. Pav and contingencies of the Navy Marine Corps -. ^ ,. ' IS aval Acade.ray Navigation . . . . . .... Ordnance , Equipment and recruiting .^ Yards and docks ., Medicine aud surgery Provisions and clothing Construction and repair : Steam engineering Increase of the Navy , Extra pay to officers and men who served in the Mexican war (Navy). Mileage, "Navy (Graham decision) '. Misceiianeous items ,. $7, 334, 865.11 870, 595.57 180, 650. 41 132, 624 26 275,779.39 656,930.12 1, 239, 965. 25 182, 911. 65 1, 464, 270. 07 969, 579. 40 681,025.68 3,318,290,04 5, 781, 51 29,179. 99 33,292.74 Less repayments on account of advances 17, 35.5, 74L 19 429, 303. 54 Total naval establishment Interest on the public debt Premium on purchase of bonds $16,926,437.65 44, 715, 007.47 8, 270, 842.46 '. Total net ordinary expenditures Redemption ofthe public debt ; 267, 924, 801,13 249,760,258,05 Total expenditures Balance iu Treasui y J une 30,1888 517,685,059.18 659, 449, 099. 94 Grand total .- 1,177,334,159.12 T A B L E N . — S T A T E M E N T OF.THE N E T R E C E I P T S AND DISBURSEMENTS ( B Y WARRANTS) FOR TtiPj Q U A R T E R E N D E D S E P T E M B E R 30, 1888. RECEIPTS. Customs : Internal revenue Sales of public lands .' Tax on national ban ks Repayment of interest by Pacific railroads Customs, fees, flnes, penalties, and forfeitures Fees—consular, letters patent, and lands Proceeds of sales of Government property Profits on coinage, etc 1 Miscellaneous , ,. ' : Total net ordinary receipts Issues ofpublic debt in excess ofredemptions Balance in the Treasury June SO, 1888 , ' $61, 404, 839. 24 31, 242, 005. 47 2, 236,197. 58 .<^.... 780, 500. 89 149, 720. 26 218, 686.14 • 637, 540.12 134, 334.10 1, 429, 521..13 1, 729,110. 01 99, 962, 454. 94 18, 331, 450. 00 659,449, 099.94 ) Total 777,743,004 88 DISBURSEMENTS. Customs Internal revenue Diplomatic Treasury Judiciary...; Interior civil '. Total civil arj d miscellaneous Indians Pensions Military establishment Naval establishment Interest on the public debt Premium on bonds purchased • ., ' , 19. 067,332. 22 1, 696.496.37 24, 919, 467.88 9, 253,164. 53 , 4, 577, 544. 08 11,813, 658.11 6, 539, 936. 72 , ' Total net ordinary expenditures Redetnption ofpublic debt in excess of issues Balancein the Treasury September 30, 1888 Total , $4,840,461.43 * 923, 097. 22 275, 666.17 10, 361, 736, 05 901, 980, 57 1, 764, 390. 78 - 77. 867, 599,91 33,025, 933.35 666.849,471.62 777,743,004 88 XCIV REPORT OF T H E SECRETARY OF THE TREASURY. T A B L E 0.—STATEMENT OF R E C E I P T S OF THE U N I T E D STATES FROM MARCH 4, 1789, 30) FROM Balance in the Treasury at commencement of year. 1791 1792 1793 1794 1795 1796 1797 1798 1799 1800 1801 1802 1803 1804 1805 1806 3807 1808 1809 1830 1811 1812 1833 1814 1815 1816 1817 1818 1819 1820 1821 1822 1823 1824 1825 1826 3827 1828 1829 1830 3831 1832 1833 1834 1835 3836 1837 1838 1839 1840 1841 1842 1843*1 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, 914 37 516, 442. 61 888, 995.42 1, 021, 899.04 617, 45L4S 2,161, 867.77 2, 623, 3 n . 9 9 3,295, 391.00 5, 020, 697.64 4,825, 81L60 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, 670, 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, 465.48 1,478, 526.74 2, 079, 992.38 1,198, 46L21 1,681, 592.24 4,237, 427.55 9,463, 922.81 1, 946, 597.13 5,201, 650.43 6, 358, 686.18 6, 668, 286.10 5, 972, 435.81 5,755, 704 79 6,014, 539.75 4 502, 914 45J 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,-357, 503. 68 29,963, 163.46 28, 685, 111, 08 30, 521, 979.44 39,186,. 2 8 4 7 4 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, 353.25 43, 338, 860.02 50,261, 901.09 48, 591, 073.41 47, 777, 672.13 49,108, 229.80^1 46,802, 855.00 35,113, 334.22 33,193, 248.60 32, 979, 530. 78 30, 963, 857.83 -46,965, 304.87 36, 523, 046.13 134, 433, 738.44 Customs. $4 399 473.09 3 443, 070, 85 4 255 306. 56 4 801, 065.28 5,588 461. 26 6,567, 987.94 7,549, 649.65 7,106, 061.93 6,610, 449.31 9,0?0, 932.73 10 750, 778.93 12 438, 235.74 30,479, 417.61 11, 098, 565.33 12,936, 487.04 14 667, 698.17 15, 845, 521.61 16, 363, 550.58 7,257, 506.62 8,583, 309.31 13, 313, 222.73 8,958, 777. 53 13. 224, 623. 25 5,998, 772.08 7,282, 942.22 36, 306, 874.88 26,283, 348.19 17, 176, 385.00 20, 283, 608.76 15, 005, 612.15 13, 004, 447.15 17, 589, 761.94 19, 088, 433.44 17,878, 325.71 20, 098, 713.45 23, 341, 331.77 19, 712, 283.29 23, 205, 523.64 22, 681, 965.91 21, 922, 39L 39 24, 224, 441.77 28,465, 237.24 29, 032, 508.91 16, 214, 957.15 19, 391, 310.59 23. 409, 940.53 11, 169 290.39 16, 158 800.36 23 137, 924.81 13,499, 502.17 14 487, 216.74 18 187, 908.76 7,046, 843.91 26, 183, 570.94 27, 528, 112.70 26 712 667.87 23 747, 864.66 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, 905.05 789, 620.96 ' 41, 49, 565, 824.38 53, 187, 531.87 39, 582, 125.64 49, 056, 397.62 69, 059, 642.40 102, 316, 152.99 84, 928, 260.60 Internalrevenue. 942.81 337, 705.70 274 089, 62 337, 7.55.36 475, 289.60 575, 491.45 644, 357.95 779, 136.44 809, 396.55 1, 048,033.43 621, 898,89 215, 179.69 50, 941.29 21, 747.15 IOL 45 20, 051.40 13, 190.23 8, 034.29 4, 430.63 7, 295.95 2, 4, 903.06 4, 755.04 1, 662,984.82 4, 678,059.07 5,124, 708.31 2, 678,100.77 955, 270.20 229, 593.63 106, 2G0.53 69, 027.63 67, 665.71 34, 242.17 34, 663.37 25, 771.35 21, 589.93 19, 885.68 17, 451.54 14, 502.74 12, 160.62 6, 933.51 11, 630.65 2, 759.00 4; 196.09 10, 459.48 370.00 5, 493.84 467.27 2, 2, 553.32 1, 682.25 3, 261.36 495.00 103.25 777.34 517.12 897. 26 375.00 375.00 Direct tax. $734, 233.97 534, 343.38 206, 565.44 71, 879,20 50, 198.44 21, 882.91 55, 763.86 34, 732,56 19, 159.21 7, 517.31 12, 448.68 7, 666.66 859.22 3, 805.52 2, 219,497.36 2,162, 673.41 4, 253,635.09 1, 824,187.04 264, 333.36 83, 650.78 31, 586.82 29, 349.05 20, 961.56 • 10,337.71 6, 201.96 2, 330.85 ' 6,638.76 2, 626.90 2, 218.81 11, 335.05 16, 080. 59 10, 506.01 6, 791.13 394 12 19.80 263.33 728.79 687.70 755.22 1,795, 331.73 37, 640, 787.95 1,485,103.61 109,741,13410 475, 648.96 209,464,215.25 1,200,573.03 Public lands. Miscellaneous. $10, 478. 10 9 918. 65 2i: 410. 88 53, 277. 97 28, 317. 97 $4, 836.13 1,169, 415. 98 '83,540,60 399, 139. 29 11, 963,11 58, 192. 81 86, 187. 56 443.75 152, 712. 10 167, 726.06 345, 649. 15 188, 628.02 1, 500,505. 86 165, 675.69 131, 945. 44 • 487, 526.79 139, 075. 53 540, 193.80 40, 382. 30 765, 245.73 51, 121. 86 466, 163.27 88, 550.42 647, 939.06 21, 822. 85 442, 252.33 62, 162, 57 696, 548.82 84, 476. 84 1, OiO,237.53 59, 211, 22 710, 427.78 126. 165. 17 835, 655.14 '271 571. 00 1,135, 971.09 164, 399. 81 285, 282. 84 1, 287,959.28 1, 717,985.03 273, 782. 35 1, 991,226.06 10.9,761. 08 2, 606,564.77 57, 617. 71 3, 274,422.78 57, 098. 42 1, 635,871.61 61, 338. 44 1,212, 966.46 152, 589. 43 1, 803,581.54 452, 957. 19 916, 523.10 141, 129. 84 984, 418.15 127, 603. 60 451. 1. 2^6,090.56 130, 588. 81 1, 393,785.09 94, 722, 66 83 1, 495,845.26 1,315, 126. 49 1,018, 308.75 65, 648. 55 1, 517,175.13 112, 227. 77 2, 329,356.14 73, 124. P5 3,210, 815.48 584 410. 61 2, 623,381.03 270, 096. 67 3, 967,682. 55 470, 812, 32 4, 857,600.69 480, 972. 13 14,757, 600.75 759, 902. 23 24, 877,179.86 2, 245,444. 59 6,776, 236. 52 7, 001,348. 45 3,730, 945.66 6,410, 939. 86 7, 361,576.4(5 979, 112.'28 3,4U, 818.63 2, 567,054. 75 3, 365,627.42 1, 004,995. 97 1, 335,797.52 451, 895. 92 898, 158.18 285, 419. 70 2, 059,939.80 1, 075,453. 68 2, 077,022.30 361, 950. 13 2. 694,452.48 289i 808. 80 2,498, 355.20 220, 610. 69 612, 379. 13 3, 328,642.56 1, 688,959.55 685, 21 1, 859,894.25 2,064, 11 2, 352,305. 30 1,185, 166. 40 464, 249. 17 2, 043,239.58 1, 667,084.99 081. 74 8, 470,798.39 1,105, 352. 40 11, 497,019.07 827, 731. 81 8, 917,644.93 1,116, 190. 88 3,829. 486. 64 1,259. 920, 13 3,352, 029. 24 3, 513,715.87 1,454, 596. 25 1, 756,687.30 1, 088,530. 31 1,778, 557.71 1, 023,515. 97 870, 658.54 915, 327. 38 152, 203.77 3,741 791. 86 167, 617.37 588, 333.29 30, 29i;701. 00 996, 553.31 25,441, 556.JaD •year from * F o r the half-^ R E C E I P T S , 1789-1888. TO J U N E 30, 1888, BY CALENDAR YEARS TO 1843 THAT T I M E . Dividends. K'et o r d i n a r y Interest. receipts. Premiums. N 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 3821 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 186S xcv AND B Y FISCAL YEARS (ENDED J U N E Receipts from l o a n s a n d Gross receipts. Treasury notes. $361,391.34 $4,771,342.53 $4,409,951.19 5,102, 498. 45 8, 772, 458. 76 1,797,272. 01 6,450,195.15 38, 500. 00 4,652,923.14 9, 439, 855. 65 303,472. 00 5, 431, 904. 87 4, 007, 950. 78 9, 515, 758. 59 160. 000.00 6,114 534 59 $4,800.00 3, 396, 424. 00 8, 740, 329. 65 160, 000. 00 8, 377, 529. 65 42. 800. 00 320, 000. 00 8, 758, 780. 99 70, 000. 00 ' 80,960.00 8, 688, 780. 99 8,179,170. 80 200, 000. 00 79, 920. 00 7, 900, 495.80 '78,*675.'66 71, 040. 00 7,546,813.31 12, 546, 813. 31 5, 000, 000. 00 71,040.00 10, 848, 749.10 12,413, 978. 34 1, 565, 229.24 88, 800, 00 12, 935, 330.95 10,125.00 12,945,455.95 39, 960. 00 14, 995, 793. 95 14, 995, 793.95 11, 064, 097.63 11, 064, 097. 63 11, 826. 307. 38 11,826,307.38 13, 560, 693. 20 13, 560, 693. 20 15, 559. 93 L 07 15,559,93L07 16,398,019.26 16, 398,019. 26 17,060,66L93 17, 060, 661. 93 7,773,473.12 7, 773,473.12 12,134,214.28 9, 384, 214. 28 2, 750, 000. 00 14,422, 634 09 14, 422, 634. 09 22, 639, 032. 76 9,801,132.76 12,837,900.00 40, 524, 844. 95 26,184,135.00 14, 340, 409. 95 300.00 34, 559, 536. 95 11,181, 625.16 23, 377, 826. 00 85.79 50, 961, 237.60 15,696,916.82 11, 541. 74 '""$32,* 3 67.'64 35,220, 671.40 57,171,421.82 47,676,985.66 68, 665.16 686. 09 9,425, 084. 91 33, 833, 592. S3 202, 426. SO 33, 099, 049.74 267, 819.14 466,723.45 525, 000. 00 23,585,17L04 412. 62 21, 593, 936. 66 8, 353. 00 675, 000. 00 24, 603, 374. 37 24, 605, 665.37 2,291. 00 20, 881, 493. 68 1,000,000 00 17, 840, 669. 55 40, 000. 00 3, 000, 824.13 19,573,703.72 105, 000. 00 14 573, 379.72 5, 000, 324 00 297, 500. 00 20, 232, 427. 94 20, 232, 427. 94 350. 000. 00 20, 540, 666. 26 20,540,666.26 350, 000. 00 19,'381,212.79 2 4 381, 212. 79 5, 000, 000. 00 367, 500. 00 21,840,858.02 26, 840, 858. 02 . 5,000,000.00 403. 500. 00 2.5,260,434 21 2.5, 260, 434 21 420, 000. 00 22, 966, 363. 98 22, 966, 363. 96 455, 000. 00 24, 763. 629.23 24, 763, 629.23 24,827,627.38 ' 490,000.00 24, 827, 627.38 490, 000. 00 24,844116.51 24, 844,116. 51 ' 490,000.00 28, 526, 820. 82 28, 526, 820. 82 490, 000. 00 31,867,450.66 31,867,4.50.66 474, 985. 00 33, 948. 426. 25 33, 948,426. 25 234, 349. 50 21,791,935.55 21, 971, 935. 55 506, 480. 82 35, 430, 087.10 35, 430, 087.10 292, 674 67 50, 826, 796. 08 50, 826, 796.08 24 954,153.04 27, 947,142.19 2, 992, 989.15 26, 302, 561.74 39, 019, 382.60 12,716,820.86 31,482.749.61 35, 340, 025. 82 i, 3,857,276.21 19, 480,115. 33 25, 069. 662.84 5, 589, 547. 51 16, 860,160. 27 30, 519, 477.65 13,659,317.38 19,976,397.25 3 4 784, 932.89 14, 808, 735. 64 20, 782, 410. 45 8,231,001.26 12,479, 708. 36 71, 700. 83 31,398,555.73 29, 320, 707. 78 1, 877,181.35 666. 60 29, 970,105. 80 29, 970,105.80 29, 699, 967. 74 29. 699, 967. 74 26, 467, 403.16 55, 368,168.52 28, 365. 91 28, 872, 399.45 35, 698, 699. 21 56, 992, 479. 21 37, 080. 00 21, 2.56, 700.00 30,721,077.50 59, 796, 892. 98 487, 065.48 28, 588, 750. 00 43, 592, 888. 88 47, 649, 388. 88 10, 550, 00 4, 045, 950.00 52,555,039. 33 52, 762, 704. 25 203, 400. 00 4, 264. 92 49, 846, 815. 60 49, 893,115. 60 46, 300.00 61, 587, 03 L 68 61, 603, 404 18 16, 350. 00 22. 50 73,800,S4L40 73, 802, 343. 07 2, 001. 67 65, 350, 574 68 65, 351, 374. 68 800.00 74, 056, 699.24 74, 056, 899. 24 •' 200. 00 68, 965, 312. 57 68,969,212.57 3, 900. 00 46, 655i 365. 96 70, 372, 665. 96 23,717, 300. 00 52, 777,107. 92 81, 773, 965. 64 28, 287,500. 00 709, 357. 72 56, 054, 599. 83 76, 841, 407. 83 20, 776, 800. 00 10, 008. 00 41, 476, 299.49 83,371,640.13 41, 861, 709. 74 33, 630. 90 51,919,26L09 68, 400. 00 529, 692, 460. 50 581,680, 121.59 602, 34.5.44 776, 682, 361. 57 889, 379, 652. 52 112, 034, 945. 51 21,174,101.01 1,128, 873,945.36 1,393,461,017.57 243, 412, 971.20 11,683,446.89 1,472,224 740.85 1,805,939,345.93 322, 031,158.19 U n a vail- . able. $8," 028.'66 3,669,960.31 • . * . .^. uary 1 to June 30, 1843. $1, 889. 50 63, 288.35 458, 782.93 37, 469. 25 11,188.00 28,251.90 30,000.00 103, 301. 37 15, 408.34 11,310.81 6 000 01 9, 210. 40 6, 095.11 XCVI R E P O R T OF T H E SECRETARY OF T H E TREASURY,. T A B L E 0 . — S T A T E M E N T OF THE R E C E I P T S OP T H E 1 B a l a n c e in the Treasury at coram en cem e n t of y e a r . Customs. Internal revenue. Direct tax. UNITED P u b l i c l a n d s . Miscellaneous. • 1866 $33, 933, 657.89 . 1867 160, 817, 099, 73 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 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. 37 275, 450, 903. 53 374,189, 081. 98 424, 941, 403. 07 521,794,026.26 526, 848, 755. 46 512,851,434 36 $179, 046, 651..58 176,417,810.88 $309,!226,813.42 $1,9747.54 12 266, 027, 537. 43 4, 200, 233. 70 ' $665, 031. OS $29, 036, 314 23 1,163, 575. 76 15, 037, 522.15 164 464,599.58 191, 087, 589. 41 1,788,14,5.85 1, 348, 715.41 180, 048, 426. 63 • 158, 356, 460.86 765, 685. 61 4, 020, 344. 34 229,102. 88 194, 538, 374 44 184, 899, 756. 49 3,350,484 76 580, 355. 37 206, 270, 408. 05 143, 098,153, 63 2, 388, 646.68 216, 370, 286. 77 130,642,177.72 2,575,71419 388,089,522,70 315, 254 51 113, 729, 314 14 2, 882, 312. 38 363,103, 833. 69 102. 409, 784 90 1, 852, 428. 93 157,167, 722. 35 110, 007, 493, 58 1, 413, 640.17 148, 071, 984. 61 116, 700, 732. 03 93, 798. 80 1,129, 406: 95 130,956,493.07 118. 630, 407, 83 976, 253. 68 330,170,680.20 110, ,581, 624,74 ' 1,079,743.37 137, 250, 047. 70 113, 561, 610, 58 924, 781. 66 186. 522, 064. 60 124, 009, 373, 92 30. 85 1, 016, 506. 60 198,159, 676. 02 135,264 385,51 1, 516. 89 2, 201, 863.17 220, 410, 730. 25 146,497,595.45 160, 14L 69 4, 753,140. 37 214 706,496.93 144, 720, 368, 98 108,156. 60 7, 955, 864.42 i 2 l , 586, 072. 51 195, 067, 489. 76 9, 810, 705. 01 70, 720. 75 112,498,725.54 181,471,939.34 5, 705, 986. 44 116, 805, 936. 48 . 192, 905, 023. 44 108, 239. 94 5, 630, 999. 34 118, 823, 391. 22 217,286,893.13 32, 892. 05 9, 254, 286. 42 124,296, 871. 98 219, 091,173. 63 1, 565. 82 11, 202, 017. 23 6, 078, 062, 848. 90 17, 745, 403. 59 13, 997, 338. 65 12, 942,118. SO 22, 093, 541. 21 15,106, 051; 23 17,161, 270. 05 32, 575, 043. 32 15,431,915.31 24, 070, 602. 31 30, 437, 487.42 ' 15, 614, 728. 09 20, 585, 697. 49 21,978,525.01 25,154, 850. 98 31,703,642.52 SO, 796, 695.02 21, 984, 881. 89 24, 014, 055. 06 20, 989, 527.86 26, 005,814 84' 24, 674, 446.10 3, 692, 586, 328.44 28,131, 990. 32 262,079 18L81 618, 752, 274 29 *Amount heretofore credited to the Treasurer as R E C E I P T S , 1789-1888. XCVII STATES F E O M MARCH 4, 1789, TO J U N E 30, 1838, ETC.—Continued. •s Dividends. l^et o r d i n a r y receipts. 1866 1867 $519.949, .564 38 462,846,679.92 1868 3869 1870 3871 1872 1873 1874 3875 1876 1877 3 878 1879 1880 1881 1882 1883 3884 1885 1886 3887 1888 376,434453.82 357,188;256.09 395,959,833.87 374,431,10494 364,694,229.91 322,177,673.78 299,941,090.84 284,020,771.41 290,066,.584 70 281,000,642.00 257,446,776.40 272,3'^2,3S6.8"^ 333,526,500.98 360,782,292.57 403,525,250.28 398,287,581.95 348,519,869.92 323,690,706.38 336,439,727.06 371,403,277.66 379,266,074.76 Interest, Premiums. Receipts frora loans a n d T r e a s u r y • Gross receipts. notes. Unavailable. $38,083,0.55.68 ,$712,851,553,05 $1,270,884,173.11 $172,094 2J> 27,787,330.35 640,426,910.29 1,131:060,920.56 721 827.93. 2,675, 918.19! 0 29,203,629..50 13,755,491.12 15.295,043.76 8,892,839.95 9,412,637.65 11,560,530.89 5,037,665.22 3,979,279.69 4,029,280.58 40.5,776.58 317,102.30 1,505,047.63 110.00 625,111.433.20 3,030,749,516.52 609,621,828.27 238,678,081.0b 606,729,973.63 285,474 4 96. Oi 652,092,468.36 268.768,523.47 679,153,921.56 305; 047,0.54.00 548,669,221.67 214931,017.00 744,251,291.52 439,272,535.40 675,971,607.10 387,971,556.00 691,551,673.28 397,455,808.00 630,278,167.58 348,871,749.00 662,345,079.70 404,581,201.00 792,807,643.00 3,066,634,827.45 211,814,103.00 54.5,340,713.98 113,750,534.00 474,532.826..57 120,945,72400 524,470,974'.28 555,942,.564.00 . 954230.345.95 206,877,886.00 555,397,7.55.92 24.5,196,303.00 568,887,009.38 116,314850.00 452,754,577.06 354,440,900.00 525,844,177.60 285,016,650.00 664,282,724.76 *2, 070. 7 a *3, 396,18 *38, 228. 35*3, 017. s a 12, 691,4a ^3,500,00 47, 097. 65 7, 997. 64 .$9,720,136.29 10,689,332,760.05'$485,224 45 204,2.59,220.83 12,395,779,118.84 23,289,856,32417 2, 715, 461. 82 ,j unavailable and since recovered and charged to his account. H. Ex. 2 VII XCVIII ' REPORT OF T H E SECRETARY OF THE TREASURY. T A B L E P.—STATEMENT OF E X P E N D I T U R E S OF T H E U N I T E D STATES FRQM M A R C H 4, J U N E 30) FROM Year. 1791... 1792... 1793... 1794... 1795... 1796... 1797 .. 1798... 1799... 1800... 1801... 1802.... 1803... 1804... 1805 ^. 1806... 1807... 1808... 1800... 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... 1'8.50... 1851... 1852... 1853... 1854... • 1855... 1856... 1857... 1858... 18.59... 1860... 1861... 1862... 1863... 1864... War. $632, 804 03 1,100, 702. 09 1,130, 249. 0^ 2, 639, 097. 59 • 2„480, 910.13 1, 260, 263. 84 1, 039, 402.46 2, 009, 522. 30| 2, 466, 946." 98 2, 560, 878. 77 1, 672. 944. 08| 1,179. 148. 25 822; 055. 851 875, 423. 93 712, 781. 28 1, 224, 355. 381 1, 2H8, 08.5. 91 2, 900, 834 40! 3, 345, 772.17 2, 294, 323. 94| 2, 032, 828.19 11, 817, 798. 24 19, 652, 013. 02 20, 3.50, 806. 86 14 794, 294 22 16, 012, 096. 80| 8, 004, 236. 53, 5, 622. 71.5.10 6, 506, 300. 37 2, 630. 392. 31 4 461, 291. 78| 3,111, 981. 48 924 431 3, 096, 939. 851 3, 340, 914 381 3, 659, 194 37 3, 943, 977. 88| 3, 948, 544 56 4,14.5. 291.07 4, 724, 128. 88| 4, 767, 83.5. 55 4, 841, 034 88 5,446, 6, 704, 019.10 5, 696, 189.38 5. 759, 156. 89 11,747, 345. 25 13, 682, 730. 80 32,897, 224 16 8, 916, 995. 80 7, 095, 267.23 8,801, 610.24 6,610, 438. 02 2, 908, 671.95 5. 218, 183.66 5; 746, 291.28 10,413, 370. 58 35, 840, 030. S3| 27, 688, 334 21 14, 558, 473.26| 9, 687, 024 58| 12,161, 965.11 8, 521, 506.19| 9, 910. 498.49 11,722, 282. 87f 14, 648, 074. 07 16, 963, 160.5 19,159, 150, 87 25, 679, 121. 63! 23,154, 720. 53 16, 472, 202, 72| 23,001, 530. 67 389,173, 562. 29| 603, 314 411.82 690, 391, 048. 66| Navy. 408. 97 410, 562. CSl 274, 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, 064.4" 1, 884, 067. 801 2, 427, 758. 1, 6.54, 244. 201 1, 96.5, 566. 39 3, 959, 365.15 6, 446, 600.101 7, 311, 290. 60| 8, 660, 000, 21 3, 908, 278. sol 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, 765.83 581.56] 2, 904 083.86 3, 049, 902.45 4, 218, 877.45 4, 263, 786.44 3, 918, 745. 47 3, 308, 428. 63 3,239, 183. 07 3, 856, 370. 29 3, 956, 356.75 3. 901, 260.42; 3, 956, 939.061 3, 864, 718. 23| 5, 807, 914 53 6, 646, 6,133, 580. 53 6.182, 294 25| 6,113, 896. 89 6, 003, 076.97 8, 397, 242. 991 3, 727, 711.53 6, 498, 199.11 6, 297, 177. 89| 6,455, 013. 92 7, 900, 635. 76 9,408, 476. 02 9, 786, 705. 92 7, 904 724 66 8, 880, 581. 38 8, 918, 842.10' 11, 067, 789. 53 j 10,790, 096. 32 13. 327, 095.11 14; 074, 834. 64 12, 651, 694 61 14,053, 264. 64| 14, 690, 927. 90 11, 514, 649. 83, 12, 387, 156. 52| 42, 640, 353.091 63,261, 235.31 85, 704, 963.74 Indians. $27, 000. 00 13, 648. 85 0 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. ooi 337, 503. 84| 177, 625. 00 151, 875. 00 277, 845. 00 367,358.28 • 167, 394. 86 530, 750. 00 274 512.16| 319, 463.71 505, 704 27| 463,181. 39 315, 750. 01 477,005.44 575, 007. 43 380, 781. 82| 429, 987, 90 724,106.44 743, 447. 83 750, 624. 88 705, 084 24 576, 344. 74 622, 262, 47 930, 738. 04 1, 352, 419,75 1, 802, 980, 93I 1, 003, 953. 20j 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. 301 1, 252, 296. 81 1, 374,161. 55| 1, 663, 591.47 2, 829, 801. 77| 3, 043, 576. 04 3, 880, 494 121 1, 5.50, 339, 55 2,772, 990. 78 2,644,263.97 4 3.54, 418. 87 4, 978, 266.18 3, 490, 534, 53 2,993,121,54 2, 865, 481,17 2. 327, 948, 37 3,152, 032. 70 2, 629, 975, 97l Pensions. Miscellaneous, $175, 813.88 109, 243.15| 80. 087. 81 81, 399.241 68, 673. 22 100, 843.71 92, 256. 97 104, 845.33 95, 444.03 64, 130.73 73, 533. 37 85, 440. 39 62, 902.10 80, 092. 80 81, 854 59 81, 875. 53[ 70, 500. ool 82, 576. 04 87, 833. 54 83, 744 16 75, 043.88 91, 402.10 86. 989. 91: 90, 164 36 69i 656.06 188, 804 15 297, 374 43 890, 719. 90 2,415, 939.-851 3, 208, Si76. 31 242, 817.25| 1, 948, 199.40 1,780, 588.52 1, 499, 326. 59| 1, 308, 810. 57 1, 556, 593. 831 976, 138. 86| 850, 573. 57 949, 594.47| 1, 363, 297. 31 1,170, 665.14 1,184, 422. 40 4, 589, 152.40! 3,364, 285. 30| 32 1, 9.54, 711. 96 2, 882, 797. 162,45 2, 672, 057. 29 2,156, 750. 51 3,142, 562,17 2, 603, 434 51 2, 388, 931. 33, 1, 378, 041.12 839, 008, 991 2, 032, 2, 400, 788.11 1, 811, 097. 56| 1, 744, 883, 63 1, 227, 496. 481 1, 328, 867. 64 1, 866, 886. 02| 2, 293, 377.22 2,401, 858.78 1,756, 306.20 1, 232, 665. 00 1,477, 612.33 •1,296, 229. 65| 1,310, 380. 581 1, 219, 768 30 1, 222, 222.71 1,100, 802. 32 1,034 599.731 852, 170.47 3,078, 513. 361 4 985, 473. 901 $1. 0 \ D73. 61 4, 672, 664 38 511, 451. 01 750, 350. 74 1, 378, 920. 66 801, 847. 58 1, 259,422. 62 1,139, 524 94 1, 039, 391. 68 1, 337, 613. 22 1,114, 768.45 1,462,929.40 1, 842, 635.76 2,191,009.43 3, 768, 598. 75 2, 890,137. 01 1,697,897,51 1, 423, 285. 61 1, 21.5, 803. 79 1,101,144 98 1, 367, 291,40 1, 683, 088, 21 3,729,435.61 2, 208, 029, 70 2, 898, 870. 47 2, 989, 741.171 3, 518, 936. 76 3, 835, 839. 5 l | 3, 067, 211. 41 2, 592, 021. 94| 2, 223,121. 54 1, 967, 996. 24| 2, 022, 093. 99 7,155, 308. 81 2,748,544' 2, 600,177. 79| 2, 713, 476. 58 3, 676, 052, 64 3. 082, 234. 65 3,237,416.04 3,064,646.30 4 577,141.45 5,716,245.93 4 404, 728. 95 4 229, 698. 53 5, 393, 279. 72 9, 893. 370. 27 7, IfiO. 664 76] 5, 725, 990. 89 5, 995, 398. 96 6, 490, 881.45 6, 775, 624 61 3.202,713.001 5, 645,183, 5, 911, 760. 98 6, 711, 283. 89| 6, 88.5, 608. 35 5, 650, 851. 25 32, 885. 334. 24 36.043,763.36 37,888,902.1 37, 504, 371. 45| 17, 463, 068. 01 26,672.144 68 2 4 090,425.4?! 31,794 038.871 28, 565, 498. 77 26, 400, 016. 42 23. 797, 544 4o 27,977, .-^z 8. sol 23, 327, 287. 69 21,38.5.862.59 23,198, 382. 37 27,572,216.87! " F o r t h e half y e a r from J a n EXPENDITURES, 1789-1888. t789. TO J U N E 30, 1888, THAT TIME. 'Net o r d i n a r y expenditures. XCIX' BY CALENDAR YEARS TO 1843 AND B Y FISCAL Y E A R S ( E N D E D Premiums. $1,919, 589.52 5, 896, ,2.58.47 1, 749, 070.73 3, 545, 299;00 4, 362, .541.72 2, 551, 303.15 2, 836, 110.52 4 651, 710.42 6, 480, lG6,72 7,411, 369.97 4, 981, 669, 90 3, 737, 079.91 4, 002. 824,24 . 4 452, 858.91 6, 3.57, 234,62 6, 080, 209.36 4, 984 .572.89 6, 504, 338. 85 7, 414, 672.14 6,311, 082.28 5, 592, 604.86 17, 829, 70 28, 082, 396.92 30,127, 686.38 26, 953, 571.00 23, 3-; 3, 432.58 15,454 609.92 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, 450.00 .13, 062, 316.27 12, 653, 095, 65 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, 396, 840.29 2 4 361, 336.59 I L 2.56, 508.60 20, 650, 108.01 21, 895, 369.61 $18, 231.43 26,418, 459.59 53,801, 569.37 45, 227, 454 77 39, 933, 542, 61 82, 865.81 37,165, 990.09 44, 054, 717. 66 *"'69,*733.'i9 40, 389,1,954.56 170, 063.42 44, 078, 1,56.35 420.498.64 51, 967,', 528.42 2,877,838.69 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, 355, 950. 07 60, 056, 754 71 62,616, 055.78 456, 379, 896.81 694, 004 57.5. 56 811,283, 676.14 a i r y 1 to June,30, 1843. Interest. $1,177, 863.03 2, 373, OIL 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. 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, 272.57 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, 073.7 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. 984.23 693, 050.25 633, 048.07 743, 771.13 841, 639.37 577, 126.01 617, 250.12 976, 032. 09 1,706, 578.84 1,138, 563.11 2, 879, 876.98 5, 294, 235.24 3, 306, 697. C 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 €07, 541.01 11, 624, 835.83 7,728, 587.38 7, 065, 539.24 6,517, 596. 9, 064, 637.47 9, 860. 304.77 9, 443, 173.29 14 800, 629. 48 17, 067, 747.79 1, 239, 746. 51 5, 974, 412.21 328. 20 2, 2, 2, 2, 2, 21, 822. 91 5, 590, 723.79 14. 996.48 399, 833.89 10,718, 153.53 374, 598.08 3, 912, 015.62 284 977. 55 5, 31.5, 712.19 773, 549.85 7,801, 990.09 523, 583.91 338, 012.64 1, 833, 452.13 11,158, 450.71 1, 040, 458,18 7, 536, .349.49 842, 723. 27 371; 100.04 214.72 1,119, 5, 600, 067.65 2, 390, 765. 88 33,036, 922.54 3, 56.5, 535. 78 12, 804, 478. 54 3, 782, 393.03 3, 656, 335.14 3, 696, 760.75 654, 912.71 4 000, 297.80 2,152, 293. 05 3, 665, 832.74 6, 412, 574.01 3, 070, 926.69 17, 556, 896.95 2, 314, 464.9!) 6, 662, 065, 86 3, 6 I 4 618.66 • 1,953, 822.37 3, 276, 606.05 1, 593, 265. 23 1,652 055.67 7, 505, 250.82 2, 637, 649.70 14 685, 043.15 3,144, 120.94 13, 854 250, 00 4 034, 157.30 18, 737, 300.00 13,190, 344.84 96, 097, 322. 09 24, 729, 700.62 181, 081, 635. 07 53, 685, 42L69 430, 572, 014, 03 G r o s s expenditures." $3. 797, 436.78 8, 962, 920.00 6, 479, 977.97 9, 041, 593.17 10,151,240.15 8, 307, 776. 84 8, 625, 877. 37 8,583,618.41 31,002,396.97 11, 952, 5 3 4 1 2 12, 273, 376.94 13, 270, 487.31 11, 258, 983.67 12,615,113.72 13, 598, 309.47 15,021,196.26 11, 292, 292.99 16, 762. 702. 04 13, 867, 226.30 13,309,994.49 13,592,604.86 22, 279,121.15 39,190, 520. 36 38, 028, 230.32 39,582,493.35 48,244 49.5:51 40, 877, 646.04 35,104, 875,40 24, 004 199'. 73 21, 763, 024.85 19,090,572.69 17, 676, 592.63 15, 314 171.00 31,898, 538.4" 23, 585, 804.72 2 4 103, 398.46 22, 656, 764.04 25,459,479.52 25, 044 358.40 24, 585, 281.55 30, 038, 446.12 3 4 356, 698. 06 24, 257, 298.49 24,601,982.44 17, 573,141.56 30, 868,164.04 37, 265, 037.15 39, 455, 438. 35 37, 614 936.15 28, 226, .533. 81 31,797, 530. OS 32, 936, 876. 53 12,118,105.15 33, 642, 010. 85 30,490,408.71 27. 632, 282.90 60, 520, 851.74 60. 655,143.19 56, 386, 422.74 4 4 604 718.26 48, 476,104.31 46,712.608.83 5 4 577,06L74 75, 473,170.75 66,164, 775, 96 72, 726, 341. 57 71, 274, 587.37 82,062,186.74 83, 678, 642.92 77, 055,125. 65 85, 387, 313. 08 565, 667, 563.74 899, 815, 91L 25 , 295, 541,114.86 B a l a n c e in Tieasury at t h e e n d of t h e year. $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, 31L 99 3,29.5,391.00 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 22,033,51.9.1,9 1 4 989, 465.48 1, 478, 526.74 2, 079, 992.38 1,198, 461.21 1, 681, 592.24 4, 237. 427. 55 9,463,922.81 1,946,597.13 5,201,650.43 6, 358, 686.18 6,668,286.10 5, 972, 435.81 5, 755, 704.79 6, 014, 539.75 4, 502, 914.45 2,011,777.55 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 28,685,11L08 30, 521,'979.44 39,186,284 74 36, 742, 829.62 36,194, 274.81 38,261,9.59.65 33,079,276.43 29,416,612.45 32, 827, 082.69 '35,871,753.31 40,158, 353.25 43, 338, 860.02 50, 261, 901. 09 48,591,073.41 47, 777, 672.18 49,108, 229.80 46,802,855.00 35,113,334.22 33,393,248.60 32, 979, 580.78 30, 963, 857. 83 46,965,304 87 36, 523, 046.13 134,433,738.44 REPORT OF THE SECRETARY OF THE TREASURY. T A B L E P . — S T A T E M E N T OF T H E E X P E N D I T U R E S OF T H E Year. 1866 1866 1867 1868 1869 3870 1871 1872 1873 1874 1875 . . 1876 1877 1878..' 1879 1880 1881 1882 1883 1884 1885 3886 1887 1888 Total ." War. IN-avy. Indians. Pensions. UNITEI> Miscellaneous. $1, 030, 690, 400. 06 . 283,154, 676. 06 $122,617.434 07 43, 285, 662, 00 $5, 0.59, 360. 71 3, 295, 729. 32 $16, ,347, 621. 34 15,605,549.88 $42, 989, 383.10 40, 613,114 17 3,568,638.312.28 *3, 621, 780, 07 717,551,816.39 *77, 992.17 103,369,211,42 *53,286,61 119,607,6.56.01 *9, 737, 87 643, ,004, 554 33 *7i8, 769, 52 3, 572, 260, 092. 35 95,224 415.63 323,246,648.62 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, 73.5, 90 32,354147.85 40,425, 660. 73 38,316,916.22 40, 466, 460. 55 43, 570,494.19 48,911,382.93 39. 429, 603.36 42, 670, 578, 47 3 4 324.152. 74 38,5(51,025.85 38, 522, 436.11 717, 629, 808. .56 31, 034, Oil, 04 25,775, 502. 72 20, 000, 757. 97 21,780,229,87 39,431,027,21 21,249,809,99 23, 626, 256. 79 30, 932, 587. 42 21, 497, 626. 27 18, 963, 309, 82 ' 14,959,935.36 17, 365, 301. 37 35,325,126,84 13, 536, 984.74 15, 686, 67L 66 15, 032, 046. 26 15, 283, 437.17 17,292,604 44 16,021,079.67 13, 907, 887. 74 15,141,126,80 16, 926, 437. 65 103,422,498.03 4 642, 53 L 77 4,100, 682.32 7, 042, 923. 06 3, 407, 938.15 7, 426, 997. 44 7, 061. 728. 82 °7, 951, 704 88 6, 692, 462. 09 8, 384. 666, 82 5, 966, 558.17 5, 277, 007. 22 4, 629, 280.28 5, 206,109. 08 5, 945, 457.09 6, 514,161, 09 9, 736, 747. 40 7, 362, 590. 34 6,475, 999. 29 6, 552. 494 63 6, 099,158.17 6, 394 622, 69 6,249,307,87 319,617.393.88 20,936,551.71 23, 782,3S6. 78 28,476,621.78 28, 340, 202.17 34 443, 894.88 28, 533, 402. 76 29, 359, 426. 86 29, 038, 414 66 29. 456, 216.22 28,257, 395. 69 27, 963,752.27 27,137,019.08 35; 121, 482.39 56, 777,174, 44 50, 059, 279, 62 61,345,193.95 66, 012, .573. 64 56, 429, 228. 06 56,102. 267.49 63,404 864 03 75, 029, 301. 79 80, 288, 508. 77 644, 323, 323. 85 51,110,22.3.72 53, 009, 867. 67 56, 474, 061. 63 53, 237, 461. 56 60,481,916.23 60,984 757.42 73, 328,110. 06 85,141, 593. 61 71, 070, 702. 98 73, 599. 661. 04 58, 926, 532.53 63, 177, 703,67 65, 741, 55.5. 49 54, 713, 529, 76 .64,416,324 71 57, 219,. 7.50. 98 68, 678, 022. 21 70, 920, 433. 70 87, 494 258. 38 74166,929.85 85, 264, 825. 59 72, 952,260.80 4, 640,125,166. 68 1,138, 090, 564 36 242,343,516,70 1,054,912,352.92 2,096,433,807.24 * Outstanding: .NOTE.—This statement is made from warrants paid by the Treasurer up to June 30, 1836. The EXPENDITURES, 1789-1888. CI S T A T E S FROM MARCH 4, 1789, TO J U N E 30, 1888, ETC.—Continued. T e a r . N e t o r d i n a r y ex- P r e m i u m s . penditures. 1865 $1,217,704,399.28 $1, 717, 900.11 385,954,734 43 58, 476. 51 1866 1867 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 Interest. $77, 39.5, 090. 30 133, 067, 624. 91 Public debt. Gros.s e x p e n d i tures. B a l a n c e in Treasury at t h e e n d of, the year. $609,616,141.68 $1,906,433, 331. .37 $33, 933, 657.89 620, 263, 249.10 1,139, 344 081. 95 165, 301, 654 76 5,152, 771, 550.43 7, 611, 003. 56 *4, 481,666.24 502, 689, 519. 27 2. 374, 677,103.12 8, 037, 749,176, 38 *2, 888. 48 *100.31 *4, 484 555. 03 -4,484,555. 03 5,157.253,116.67 7, 611,003. .56 202,947, 733,87 10, 813, 349. 38 229, 915, 088,11 7,001,154 04 190,496,354,95 1, 674, 680. 05 164, 421, 507,15 15, 996, 555. 60 157,583,827.58 9, 016, 794. 74 . 153,201,856.39 6, 958, 266. 76 180,488, 636. 90 5,305i919.99 194,118,985.00 1, 395, 073. 55 171,529,848.27 164,8.57,813.36 144, 209, 963. 28 134 463, 452,15 3.61,619,934 53 169, 090, 062, 25 2, 795, 320.42 177,142, 897. 63 1, 061, 248. 78 186.904,232,78 206, 248, 006,29 189, 547, 865. 85 208, 840, 678, 64 191,902,992,63 220,190, 602, 72 214 938,951,20 8, 270, 842,46 8,042,233,731,41 1, 093, 079, 655, 27 1, 069, 889, 970, 74 584 777, 996.11 702, 907, 842. 88 691, 680, 858. 90 682, 525, 270.21 524 044, 597. 91 724, 698, 933. 99 682, 000,885. 32 714,446, 357. 39 565,299,898 91 590. 641, 271.70 966, 393, 692.69 700, 233, 238.19 425, 865, 222, 64 529, 627, 739.12 855, 491, 967. 50 504, 646, 934, 83 471, 987, 288, 54 447, 699, 847. 86 539, 833, 501.12 517, 685, 059.18 160, 817, 099. 73 198,076,537.09 158, 936, 082. 87 183, 781, 985. 70 177,604,116.51 138, 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, 668.37 275, 450, 903. 53 374,189, 081. 98 424, 941, 403. 07 521, 794, 026.26 526, 848, 755.46 512, 851, 434 36 659, 449, 099. 94 502, 692,407. 75 2,374,677,203.43 143,781,594 91 735,636,980.11 140,424,045,71 692, 549, 685. 88 130, 694, 242. 80 261,912,718 31 129, 235, 498,00 393,254 282.13 125, 676, 565. 93 399, 503, 670. 65 117, 357, 839. 72 405, 007, 307. 54 104, 750, 688.44 233, 699, 352, 58 107,119,81.5.21 422, 065, 060.23 103, 093, 544. 57 407, 377, 492. 48 300,243,274 23 449, 345, 272. 80 323, 965,424. 05 97,124 511. 58 353, 676, 944. 90 102, 500, 874. 65 699, 445, 809.16 105, 327, 949. 00 432, 590, 280,43 9.5,757,575.11 165,152, 335, 05 82,508,741.18 271, 646, 299. 55 71,077,206.79 590, 083, 829. 96 69,160,331.25 260, 520, 690. 60 54, 678, 378. 48 211,760,3.53.43 51, 386,256. 47 205, 216, 709. 36 50,580,145.97 271,901,324 35 47,741,577.25 249, 760, 258. 05 44, 715, 007. 47 9,171. 914, 407. 90 77,700, 206, 33 2, 567, 427, 866.47 10,810,649,281.71 22,627,691,762,41 warrants. outstanding warrants are then added, and the statement is by warrants ii from that date. CII , REPORT OF THE SECRETARY OF THE TREASURY. T A B L E Q . — R E C E I P T S AND DISBURSEMENTS B Y U N I T E D STATES ASSISTANT T R E A S URERS DURING T H E FISCAL YEAR ENDED J U N E 30, 1888. BALTIMORE. Balance JuneSO, 3887 : ' $9,808,083.11 EECEIPTS. On account On account On account Ou account On account On account On account Ou account Oh account On account On account On account On account of customs of internal revenue of certificates of deposit, act June 8, 1872 of Post-Office Department of transfers of patent fees ofdisbursing officers of semi-annual duty of the Secretary of the Treasury of Treasurer United States, transfer account of repayments of redemption and exchange of miscellaneous :. '.. $3, 080, 040.16 110,637.62 8, 490, OCO. CO 797,124.54 6,303,733.70 50. 00 ' 2, 709,476. 66 26,219.10 830. 50 2, 200, 980.35 57, 690. 91 6, 595,131. 30 16, 015. 87 30, 387, 930.71 40,196, 013. 82 DISBUESEMENTS. On account of Treasury drafts On account of Post-Office drafts Ou account ofdisbursing officers On account of interest On account of redemption and exchange On account of Treasurer United States, transfer account On account of bonds redeemed On account of transfers On account of certificates of deposit, act of June 8, 1872 Balance J u n e 30, 1888 .. 3, 526, 480. 57 673, 484. 50 2, 798, 515, 96 382, 979, 63 6, 646, 396. 30 1,446, 580.34 366,373.50 5,494,564.57 7, 970, 000. 00 _ .* ' 29, 30 4, 373.17 10, 891, 640. 65 BOSTON Balance June 30,1887 .' ' On On On On account of customs account of certificates of deposit, act June 8,1872 account of Post-Office Department account of transfers: Treasurer's ' Standard dollars ,. On account of patent fees^ On account ofdisbursing officers .On account of semi-annual duty On account of the Secretary of the Treasury On account of redemptions '. On account of miscellaneous $18,803,461.6^ $23, 248, 255. 29 1, 900, 000. 00 2,407,462. 89 12,566,461.78 2,481.500.00 6, 386.00 24,757,964.01 223, 519.04 . 3, 347. 05 5, 950, 037.00 1, 746. 534.15 75, 292,467, 21 94, 095, 928, 90^ DISBURSEMENTS. On account of Treasury drafts..: On account of Post-Office drafts On account ofdisbursing officers On account'of interest On account of bonds purchased ' On account of the Seci etary of the Treasury On account of silver certificates redeemed i On account of transfers On account of United States notes mutilated On account of certificates of deposit, act June 8, 1872 On account of stauf^ard dollars exchanged On account of fractional currency (silver and minor coins) redeemed . . On account of miscellaneous Balance June 30, 1888. 4,191,t)91. 76 2,431,123, 74 22,198, 303.70 4, 071,232. 79 7, 093,107. 32 4, 798. 32 170, 700. 00 19, 5.52, 797.92 664, 700. 00 1, 325, 000. CO 3,926,323.00 1,188, 599. 00 16,484. 87 76,835,162.42 17, 260, 766.4& RECEIPTS AND DISBURSEMENTS BY S U B - T R E A S C R E K S : CIII TABLE Q . — R E C E I P T S AND DISBURSEMENTS, ETC.-—Contmued. CHICAGO. Balance June 30, 1887 .......: , ' $5,930,6^8.28 RECEIPTS. On On On On On On account of customs. account ol" internal revenue account of sales of public lands account of certificates of deposit, act June 8, 1872 accouut of Post-Office Department account of transfers: Treasuier's Standard dollara Oh account of patent fees On account of Uisbuising officers On account of semi-annual duty On account of the Secretaiy of the Treasury On accouut of repayments On account of silver exchanges — On account of miscellaneous' . $', 835, 607. 52 1, 076, 7771 05 70,410.02 260, oOO. 00 6, 278, 767.36 ' 30, 326, 460. 64 3, 237, 135. 00 , 5, 3K6. 50 11,093.485. 12 • 26, 464. 92 12, 998. 27 237, 504. HO 4, .586, 926 00 89. 060. 66 : 63,136,983.75 69, 067, 642. 03 DISBURSEMENTS. ' On account of Treasury drafts On account of Post-Office drafts On account of disbursin s: officers On account of trade dollars On account of the Secretary of the Treasury On account of interest •On account of silver exchanges On account of gold certificates On account of silver certificates On account of transfers On account of United States note.s mutilated On account of certificates of deposit, act June 8, 1872 12.01.5,179 88 5, 846, 697. 38 11,351, 7o6. ] 5 36, oVo. Ou 6, 244. 87 835,130. 02 4,598, 276. 00 4, 592, oOO. 00 2, 371, 000. 00 13,64.5, .320.48 3, 286, 000. 00 120, 000. 00 '• 58,703,634 78 Balance June 30, 1888 10, 364, 007. 25 CINCINNATI. Balance June 30,1887 • • $9, 775,126.13 • RECEIPTS. On account of customs On account of gold certificates 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 semi-annual duty On account of the Secretary of the Treasury On account of repayments On account of redemptions.. On account of miscellaneous $2,358,434,07 280,000,00 2, 270, 000. 00 • 1,779,444,43 13,966,729.68 1,491,500.00 • 1,022.00 , 1, 836,969.39 33, 066. 32 i, 989. fi5 5,835.51 4, 551, 251. 80 24, 942.10 28,601,184.85 38, 376, 310, 98 DISBURSEMENTS. On account On account On account On account On account On account On account On account On account On account of Treasury drafts of Postoffice drafts ofdisbursing officers of i n t e r e s t . . . . . of gold certificates of silver certificates of transfers of United States notes mutilated of certificates of deposit, act June 8,1872 of fractional currency (silver and minor coins) redeemed . . Balance June 30,1888 1,804,889.69 . 1,769,217.94 1,684,338.98 840, 290. 68 584, 770. 00 1, 923, 000. W 9, 026, 206. 90 1, 487, 300. 00 2, 050, 000. 00 4. 659,055. 80 — 25, 828, 969. 99 .12,547,340.99 CIV , . REPORT OF THE SECRETARY OF THE TREASURY. T A B L E Q . — R E C E I P T S AND DISBURSEMENTS, ETC.—Continued. Balance June 30, 1887 N E W ORLEANS. .: ' $11, 686, 86i,48 RECEIPTS. On On On On On account of customs^. accouiit of intemal'revenue account of sales of public lands account of Post-Office Department account of transfers: Treasurer's Standard dollars and fractional silver On account of patent fees On accouut of disbursing officers On account of assay office—birllion On account of semi-annual duty On account of the Secretary ofthe Treasury On account of repayments •On account of redemption On account of miscellaneous : $3, 042, 368. 03 35, 962. 57 1, 280, 692.44 861,036, 29 - : 13, 256, 910.58 6,932,450.00 65.00 3,158,658.85 718.02 35,883.81 5,303.01 329, 900. 04 1,941, 500.00 13, 897. 87 -. _ 30,875.346.51 42, 562, 210. 99 DISBURSEMENTS. On On On On On On On On On On account account account account account account account account account account of of of of of of of of of of Treasury drafts .: .* Po.-»t-Office drafts disbursing officers the Secretary of the Treasury interest bonds redeemed gold certificates canceled silver certificates transfers U. S. notes mutilated, etc., and national-bank notes 3, 639,403.21 • 936, 854. 66 3,141, 932. 52 6, 694.50 376,029.30 17, 079.00 3, 214, 070. 00 1, 941,500.00 12, 739, 437. 02 2, 796,000. 00 Balance June 30, 1888 26, 809, 000. 21 15, 753, 210.78 N E W YOEK. Balance June 30, 1887 $174,189,258.57 ^•. R E C E I P T S . On account of customs On account of internal revenue On account of certificates of deposit, act June 8, 1872 On, account of Post-Office Department On account of transfers: Treasurer's Standard dollars On account of patent fees On account of disbursing offioers On account of assay office: Ordinary expenses Bullion • ' On account of semi-annual duty On account of the Secretary of theTreasury On account of interest On account of United States bonds. On account of redemption and exchange On account of special customs deposits On account of miscellaneous ' - $150, 009,124 65 71,838.94 7, 260, Ooo. 00 9,205,831.40 195,413, 648. 98 6, 348,055. 00 2,535.10 217, 650, 704. 28 162,121. 91 50,485, 219. 92 220, 491. 06 13,791.86 32,338, 705.31 48,199, 528. 65 66,8.57, 861. Oi» 787, 240. 20 4, 027, 357. 05 — 780,054,035.31 063, 243 293. 88 DISBURSEMENTS. On account of Treasury drafts ^On account of Post-Office drafts On account of disbursing officers On account of assay office: Ordinary expenses Bullion On account of transfers On account of interest On account of gold certificates, Department series On account of gold certificates, New York series On account of gold certificates, old series On account of silyer certificates On account of United States notes mutilated On account of national-bank notes. On account of fractional currency.. On account of certificates of depo.sit, act of' June 8, 1872 On account of United Statesbonds On account of redemption and exchange .' On account of special customs deposits 293,683,224 80 10, 316,136.63 125, 664,205.11 3 66, 311.41 39,623,473.95 91, 745,337. 09 32,338,705.31 2, 0.98,000. 00 44,153, 230. 00 35, 320. 00 9,377,000.00 21, 041, 000.00 4,205,000.00 1,900.00 2,300,000.00 48,199,528.65 64, 872,179. 00 390, 692. 78 790,211,244 73 Balance June 30. 1888 173,032.049.15 RECEIPTS AND DISBURSEMENTS BY SUB-TREASURERS. T A B L E Q . — R E C E I P T S AND DISBURSEMENTS, ETC.—Continued. CV ' PHILADELPHIA. Balance June 30,1887 $24, 940,04L 34 RECEIPTS. On account On account On account On account On account On account On account On account On account On account On account On account of customs of the Secretary of the Treasury of redemption and exchange of certificates, act June 8, i872 of Post-Office Department of transfers of patent fees of disbursing officers of Treasurer's transfer account of semi-annual duty of custoras fees of miscellaneous : $18, 761, 000. 60 12,165.65 12,241, 472.00 9,620,000.00 2,360,347.76 11,434,254,37 2, 747, 75 11,284,838.20 5, 342,790,79 67, 077. 00 121,237,13 1,460,863.39 „ 72,608,794 64 97,549,435,98 DISBURSEMENTS. On account of Treasury drafts On account of Post-Office drafts On account of disbursing officers On account of Treasurer's transfer account On account of redemption and exchange On accbunt of interest On account of fhe Secretary of the Treasuiy On account of transfers On account of certificates of deposit, act June 8,1872 -.. 11,294,800,98 2. 504 462, 95 11, 238, 573.90 2. 963, 475. 74 12,287, 239. 00 2,402, 466.16 11, 205.39 19, 336, 458. 90 10, 350, 000. 00 - Balance June 30, 1888. , '. 72,388,683.0225,160,752.96 SA.INT LOUIS. Balance June 30, 1887 $22,375,728.52 RECEIPTS. On account of customs On account of internal revenue Onaccount of sales of publiclands 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 -i Bullion On account of semi-annual duty On account of the Secretary of the Treasury On account of interest ^ On account of repayments On account of miscellaneous , 1.. $2,187, 321.14 2,375,600.88 42,2^7.60 350, 000.00 2,244, 294.84 18,345.788.24 1,966,600.00 1,193.00 11,345,163.44 5, 895. 68 120,000.00 36, 888.16 15,405.00 25. 50 91,134. 96 49, 398. 22 , 39,156,826.66 61,532,555,18 DISBURSEMENTS, On On On On aceount of Treasury drafts account of Post-Office drafts account of disbursing officers account of assay office: Ordinary expenses Bullion On account of interest On account of redemption and exchange On account of transfers... Oil account of United States notes mutilated On account of the Secretary of the Treasurv ^ Balance June 30, 1888 12, 000,276. 70 2,123,879.08 11, 266,108.80 *. .* 6,181. 57 337,86474 404, 636.17 188,476.60 14,626,748.28 346, 000. 00 15,361.00 , ' 41,115,532.84 20,417,022.34 CVI R E P O R T O F T H E SECRETARY OF T H E TREASURY. TABLE Q . — R E C E I P T S AND DISBURSEMENTS, ETC.—Continued. SAN FRANCISCO. Balance June 30, 1887 $59, 816,460.97 RECEIPTS, On account of customs On account of internal revenue On account of sales of public lands On account of Post-Office Departraent On account of transfers: Treasurer's Standard dollars On account of patent fees On*accountof disbursing officers...... On account of semi-annual duty On account of the Secretary of the Treasury On account of miscellaneous $10, 344, 264.24 2,194, .573.70 1, 450, 274,41 1, 032, 540,84 3, 838, 837, 37 3,130, 905.00 14, 274 50 11,307,136.34 10,632,63 15,874.72 1, 629, 507. 22 34 968,820.97 94,785,281.94 DISBURSEMENTS. On account of Treasury drafts On account of Post-Office drafts On account of disbursing officers • On account of the Secretary of the Treasury On account of interest ". On account of Treasurer's transfers On account of standard silver dollars On account of fractional silver On accourit of transfers trade dollars to United States Mint On accourit of United States notes and national-bank notes Balance June 30, 1888 : : 16, 360,796. 73 920,289.13 11, 425, 634. 27 19,123.16 313, 876. 80 33,001. 57 7, 544 665.00 639,620.00 161, 263. CO 100, 000. 00 37,518,269.66 57,267,012.28 RECAPITULATION. Totalreceipts...'. Total disbursements Receipts over disbursements $1,164,082, ,390. 61 3.158, 714,870. 82 5, 367, 519.79 DUTIES COLLECTED CVII ON IMPORTS, E T C . TABLE E.—STATEMENT SHOWING THE VALUE OF IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, W I T H T H E A M O U N T O F ORDINARY D U T Y COLLECTED T H E R E O N , DURING T H E Y E A R S E N D I N G J U N E 30, 1887 AND 1888. CLASS A.—ARTICLES OP FOOD, A N D A N I M A L S . 1888. 1887. Duty. A d valorem r a t e of duty. Dollars. P e r ct. Articles.. Value. F r e e of duty. Dollars. A n i m a l s , n o t e l s e w h e r e specified . . . 3,136, 082 Bolo«yna s a u s a g e s 49, 828 Cocok o r cacao, c r u d e , a n d l e a v e s a n d s h e l l s of . . . .... 1,670,008 Coffee 56, 360,701 Curry and curry powder , 4 311 Ef'gs 1,960,405 Farinaceous substances, and prepa r a t i o n s of 721,984 F i s h , n o t e l s e w h e r e specified 1, 098, 562 F r u i t s , i n c l u d i n g n u t s , n o t elsew h e r e specified . . . 4,^767, 629 Oil c a k e 58, 512 Sauerkraut 9,311 Spices, u n g r o u n d , n o t e l s e w h e r e specified .... . . 3, 315, 965 S u p p l i e s for w a r v e s s e l s of o t h e r nations Tea . . . . 16, 373, 42J Yams ... 3,004 A r t i c l e s i m p o r t e d free of d u t y u n der reciprocity treaty with Hawaiian I s l a n d s : Rice Molasses Sugar Tallow T o t a l from H a w a i i a n I s l a n d s T O T A L F R E E O F DUTY ... Value. Dollars. 3, 336, 622 54, 973 Duty. A d valorem r a t e of duty. Dollars. P e r ct. 2, 252, 031 60, 509, 522 10, 089 . 2,312,477 903,465 1, 385, 514 5, 774, 848 • 58,392 54,230, 3, 344, 069 137 13,473, 919 2,564 551,257 6,417 10, 260, 048 762 383, 985 14, 712 9, 255, 351 9, 654, 048 10, 818, 484 99,383,733 104, 291, 336 Dutiable. 033,013 1, 0/5, 811 106, 672 5,694 12, 693 2,375 611, 938 20.00 36.84 65.17 7.67 8.76" 32.10 2L72 4,661,849 8,215,337 187, 012 124, 791 178, 059 6,071 3, 065, 586 4,234,779 157, 445 2, 693 8, 727 163, 648 27.90 18.89 51.38 20. 00 25.00 15,121,086 978, 673 21,185 58, 462 629, 216 430, 007 971,455 676, 866 66, 271 2 4 44 a 6 4 01 a49.92 38.91 1,496, a63 56, 507, 496 74, 219, 614 •58, 004, 359 A n i m a l s , n o t e l s e w h e r e specified . . . 4, 665, 067 Breadstuff's 6,386,561 Chicory 163, 682 Chocolate 74,197 Cocoa, p r e p a r e d 144 906 Coffee s u b s t i t u t e s 7,399 F i s h , n o t e l s e w h e r e specified 2, 817, 352 Fruits,including nuts, not elsewhere specified 15,101,447 Hav 791, 687 Honey 5,242 I n f a n t s ' food 43, 635 O i l s : Olive, a n d o t h e r s a l a d 654, 819 Provisions, comprising meat a n d dairy products 1, 759, 262 liice.... .:: .: 3,618,766 Salt. ' 1, 455, 385 Spices, g r o u n d . 170, 304 Sugar and molasses: Molasses Su "'ar T o t a l s u g a r a n d molasses 5, 336, 730 68, 882, 884 932, 370 1,115,811 121,188 9,98J 11,715 1,688 645, 507 4, 482, 200, 17, 11, 357, 20.00 13.58 6 4 80 8. OO 6.58 33.28 2L06 585 809 409 692 260 29.64 20.52 71.98 20.00 a25.00 2,060,3 56 2, 4 M, 813 1,128,071 383,325 506, 993 3,796,818 552, 694 72. 765 24.62 aTd. 80 a54.41 39 68 28.05 82.04 5, 262, 863 63, 685, 799 3,347,327 50, 647, 014 25.60 79.52 78.15 68, 948, 662 51,994,341 75.41 NOTE.—The values of articles withdrawn from warehouse on which the duty is remitted are excluded from all computations of average rates of duty.. CVIII REPORT OF THE SECKETARY OF THE TREASURY. T A B L E R . — S T A T E M E N T SHOWING T H E V A L U E O F IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.-—Continued. CLASS A.—ARTICLES OP FOOD, AND ANIMALS—Conthiued. 1888. 1887, Articles. Value. Duty. Ad valorem rate of duty. Value. Duty. Ad valorem rate of duty. • Dutiable—Continued. . Vegetables: Potatoes Allother Vinegar TOTAL DUTIABLE Dollars. 542,234 1, 734, 070 17,447 Dollars. Per ct. 214,638 39. 58 332,872 19.20 6, 378 36.56 DoUars. 3, 693,097 3, 388, 662 17, 928 Dollars. Per ct. 1,239,369 ' 33.56 516,282 15.23 6,505 36.28 07,098, 334 am. 67 116,104, 040 64, 393,790 a56.00 104,291,336 07, 998, 334 a60.57 115,104,040 64, 393,790 a56. 00 211,456, 849 67, 998,334 a32.10 219,395, 370 64,393, 790 a24.8i •.... 112, 273,076 Recapitulation. Total free of dutv Total dutiable Total Class A 99,183,773 112, 273, 070 CLASS B.—ARTICLES I N A CRUDE CONDITION WHICH E N T E R INTO T H E PROCESSES OF DOMESTIC INDUSTRY. Free of duty. Aluminium .Asbestos, unmanufactured Asphaltum or bitumen, crude Bells and bell-metal, fit only to be . remanufactured Bismuth Bones, crude, etc., not for fertilizers. Brazil pebbles for spectacles, etc . . . Bubr stone, unmanufactured Chalk and cliff'-stono, unmanufactured Chemicals, drugs, and dyes, not elsewhere specified: Argal or argol, or crude t a r t a r . . Arsenic Balsams: Copaiva, fir, Peru, and tolu Barks: C?lisaya, Lima, and all cinchona barks Berries, nuts, and vegetables, etc., used in dyeing, etc Cochineal Dye-woods Flowers, leaves, etc.: Buchu, chamomile, rose, senna, etc Oums: Amber, Arabic, benzoin, camphor, catechu, terra japonica, tragacanth, etc Iodine, crude Roots: Colombo, gentian, licorice, madder, etc Sulphur, crude Tonka'beans Vanilla beans All other . Total chemicals, etc Coal and charcoal .Coir and cocoa fiber Copper, old, taken from the bottoms of American vessels compelled by marine disaster to repair in foreign ports Cork wood, or cork bark, unmanufactured 9,458 118, 883 99,055 16,764 145,908 113,854 3,129 109,679 59, 244 35, 291 25,000 3,167 168, 943 195, 979 24, 330 30, 600 59, 230 64,154 3,412, 987 78, 891 2,373,935 163,645 67,418 81,278 . 772,257 410,700 120,607 140,249 1, 328,933 273,010 136,866 46, 444 1, 666, 574 4, 537, 211 174,400 5,494,711 554, 732 1, 935,182 1.688,360 149,313 775,877 1,176, 350 1, 013, 212 1,581.583 17,172 842, 201 1,276,842 348, 411 16,628,845 16, 008, 306 57,749 3,556 115,286 10, 240 442 1,239,247 a See note on page cvn. 33,191 1, 030, 695 DUTIES COLLECTED ON IMPORTS, ETC CIX TABLE R . — S T A T E M E N T SHOWING T H E VALUE^OP IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. CLASS B.—ARTICLES I N A CRUDE CONDITION W H I C H E N T E R INTO T H E PROCESSES OF DOMESTIC INDUSTRY—Continued. 1887. Articles. 1888. Value. Duty. Ad valorem rate of duty. Value. Duty. Ad valorem rate of duty. DoUars. Dollars. Per ct. Dollars. DoUars. Per ct. Free of dwi^/—Continued. Cotton, unmanufactured, and cotton •waste Diamond dust, or bort Fertilizers: Guano All other - Total fertilizers Fish sounds or fish bladders Flint, flints, and ground flint-stones.. Furs and fur skins, undressed Gold and silver sweepings Grease for use as soap-stock only, and all other soap-stock Gut, cat-gut, or whip-gut, unmanu"factured - --Hair, not elsewhere specified Hide cuttings, raw, and all. gluestock Hides and skins, otherthaufur skins Hoofs, horns, etc., unmanufactured India rubber and gutta percha, un• manufactured i : Istle, or Tampico fiber Ivory, unm anufactured: Animal Vegetable ' Lithographic stones, not engraved . . Meerschaum, crude or raw Mica and mica waste Minerals, crude, not elsewhere specified Moss, sea-weed, etc.. used for beds . . Ores, hot elsewhere specified Paper stock, crude Palm leaf, unmanufactured. Plants, trees, shrubs, etc., not elsewhere specified Plaster^of Paris, unground Platina, unmanufactured Plumbago Polishing, pumice, and rotten-stone. Quicksilver Quills, prepared or^unprepared Rennets, raw or prepared Sausage skins Seeds, not elsewhere specified Shells, not manufactured Silk, unmanufactured Sparterre, for making or ornamenting hats Straw, unmanufactured Talc Tanning materials, not elsewhere specified: Hemlock bark Other articles in a crude state . . Teazles Terra alba, aluminous '>Tin, bars, blocks, or pigs, grain or granulated Whalebone, unmanufactured Wood, un manafactured All other free articles TOTAL FREE OF DUTY 533, 219 33,498 745,048 37, 657 338,467 1,434, 901 154, 937 848, 832 1,773, 368 1,003,829 124, 050 1,324 2,471, 280 12, 621 141, 388 2,888 1, 952, 305 14, 541 52,420 46, 586 44, 328 2, 404,423 41,010 2,127, 387 485, 042 24, 22.5, 776 235, 250 347,302 23, 972, 617 304,117 13, 762, 627 180, 428 16, 077, 262 153, Oil 486, 368 144 663 97, 893 35,478 63,480 685,763 156, 533 97,135 35,458 21, 013 58, 089 73,103 3, 840, 925 4, 538, 719 838 27, 409 29, 709 5, 238, 647 5, 462, 256 2,809 254,472 162,154 438, 516 331, 621 ' 34,866 (a) 764 56, Oil 278.140 596,522 197,984 19, 640, 397 289,010 148,179 565,459 371,441 45, 816 (a) 823 68, 538 323, 725 723.122 149. 539 19, 932,337 335 30,521 40, 848 1,696 21,959 44,169 272,956 19,134 3,156 39,431 290, 261 17, 530 1,617. 24,951 6,927,710 6,579 2, 734,620 135, 617 8, 758, 662 382 3,107,170 236,960 106,389, 032 111, 808,141 .. ' CX REPORT OF THE SECRETARY OF THE TREASURY. T A B L E R . — S T A T E M E N T SHOWING T H E VALUE O F IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N THK U N I T E D STATES, ETC.—Continued. CLASS B.—ARTICLES IN A CRUDE CONDITION WHICH ENTER INTO THE PROCESSES y O F .DOMESTIC INDUSTRY—Continued. 1887. Advaloiem r a t e of duty. Value. DoUars. 2, 840 174,424 P e r ct. 8.88 15, 08 Dollara. 29, 061 3,072,056 39,290 28,382 84, 279 683, 728 10.00 1 4 83 3L97 2 4 32 204, 213 38, 836 271, 021 2, 968, 678 209, 005 103, 735 49.63 281, 527 3,681 172 2,168 34 58.90 20. 00 2,466 1, 908, 845 3, 766, 713 2, 665, 088 154, 509 736, 322 517.412 8.09 19.55 19.41 3,821,231 7, 075, 599 2, 639, 899 3, 539, 47. 'Articles, Value. Duty. Duty. A d valorem r a t e of duty. Dutiable. B r a s s , b a r s o r pigs, a n d old Bristles , C h e m i c a l s , d r u g s , d y e s , a n d medicines, n o t e l s e w h e r e specified: Antimony, crude ."• Other drugs a n d dyes Clays or e a r t h s Coal a n d coke Copper: Ores B a r s , i n g o t s , a n d pigs, old, fit only i b r remauufacture a n d r e g u l u s of C o t t o n , w a s t e or flocks Flax, hemp, jute, and other textile graSvSCs: F l a x , r a w , a n d t o w of , H e m p , a n d s u b s t i t u t e s for J u t e , raw, and j u t e butts , Sisal g r a s s a n d o t h e r v e g e t a b l e substances, not elsewhere specifi ed T o t a l flax, h e m p , e t c . G r e a s e , all n o t specially e n u m e r a t e d or p r o v i d e d for .. H a i r , . cleaned, unmanufactured, h o g s ' hair, h u m a n h a i r u n cleaned, and cleaned or d r a w n b u t n o t manufactured Hops Dollars. 31, 985 1,156, 435 192, 902 191,399 263, 621 2, 811,153 ' D o l l a r s . '• P e r ct. 2,957 10.17 13.86 148, 575 20,421 9,746 92, 392 665,786 108, 542 1, 254 10.00 25.30 34.09 - 22. 43 38.55 50: 85 139, 597 1, 224 874 509,136 7.66 17. 31 19.43 10.12 522, 097 34 75 5, 080, 421 514, 395 11, 880,121 1, 930, .340 36.25 16, 597,150 2, 388, 002 324,487 52, 349 16.13 342, 413 56, 692 16,56 103, 699 3,117, 663 24, 801 1, 329, 506 23.92 42.64 70, 870 1, 053, 232 17, 577 467, 862 24 80 44.42 40.53 43.18 47.15 1, 817, 682 5, 051, 546 2,131, 651 693, 50'I 2,189, 385 3,052,035 38.15 43. 34 49. 35 I r o n a n d steel, a n d m a n u f a c t u r e s of, n o t e l s e w h e r e specified: Ores Pig-iron Scrap-iron B a r s , billets, blooms, b l a n k s , ingots, etc., of steel 2,112,128 6, 510,126 3, 723, 471 855, 996 2, 811, 026 1, 755, 723 5, 529, 704 2, 378,954 4,168,451 3,757,73.8 42.17 T o t a l iron a n d steel, e t c . 17, 875,429 7,801,699 43.64 13,369, 330 5, 692, 639 43.23 345, 313 494, 219 235, 878 235, 695 68.31 47.67 206, 501 479, 927 145, 295 192, 940 70:36 40.20 503, 611 92, 356 18.30 250, 758 67, 256 26.82 47, 293 9,458 20.00 40, 824 8,165 20.00 497, 273 353 49, 727 49 10.00 13.88 1,138, 792 558 113, 879 . 88 10.00 12.19 846, 581 1,989 16,178 15,133 172, 438 199 3, 236 2,177 20. 36 10. 00 20.00 1 4 39 1, 997, 690 L590 19,677 13,492 385, 052 359 3,935 2,175 19. 27 10. 00 20. 00 16.12 L e a d : M o l t e n a n d old, o r e a n d dross, and pigs aud bars M a r b l e a n d stone, u n m a n u f a c t u r e d M e t a l s , m e t a l compositions, n o t e l s e w h e r e specified: A r g e n t i n e , a l b a t a o r G e r m a n silver, n i c k e l , ' n i c k e l oxide, a n d m e t a l s u n m a n u factured M i n e r a l s u b s t a n c e s in a c r u d e s t a t e , unmanufactured P a p e r - p u l p , d r i e d for p a p e r - m a k e r ' s use Rosin.: S e e d s : C a s t o r b e a n s , g a r d e n seeds, h e m p seed, r a p e seed, a n d b u l b ous roots Suga,r-cane Sugar drainings T a r and pitch CXI DUTIES COLLECTED ON IMPORTS, E T C . T A B L E R . — S T A T E M E N T SHOWING T H E V A L U E O F IMPORTED M E R C H A N D I S E E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. C L A S S B . — A R T I C L E S I N A C R U D E C O N D I T I O N W H I C H E N T E R I N T O T H E P R O C E S S E S OF^ DOMESTIC INDUSTRY—Continued. 1888. 1887. Articles. Value. Duty. A d valorem r a t e of duty. Value. . Duty. A d valorem r a t e of duty. Dutiable—Contmxie(\. W o o d , a n d m a n u f a c t u r e s of: B a s s w 0 0 d, u n m a n u f a c t u r e d : t i m b e r u s e d for s p a r s , e t c . , hewn and sawed or squared or sided . . . . . . . . H u b s for wheels, p o s t s , e t c . , a u d u n m a n u f a c t u r e d wood, u o t e l s e w h e r e .specified T o t a l wood, e t c W o o l s , h a i r of t b e alpaca, goat, a n d o t h e r l i k e animals, u u m a n u f a c t ured: Class N o . 3.—Clothing wools C l a s s N o . 2. —Combing wools . . . Class N o . 3.—Carpet a n d o t h e r similar wools Raojs, s h o d d y , m u n g o , w a s t e , flock's... -•....2 T o t a l wools Zinc, spelter, or t u t e n e g u e : I n blocks o r p i g s , a n d o r e A11 o t h e r d u t i a b l e a r t i c l e s TOTAL DUTIABLE DoUars.' 1.025 Dollars. 202 P e r ct. 19.71 .Dollars. 3, 283 Dollars. 512 61, 019 12,167 19.94 54,315 10, 811 39.90 62, 044 12, 369 39.93 57, 598 11, 323 19.67 4, 339, 498 2, 270, 058 2, 395, 537 974,179 56.20 42.91 3, 648, 780 1, 322, 862 1„ 789, 347 562,198 49.02 42: 50 9, 741, 814 2, 530,101 25.87 9-, 090,459 2, 377, 941 26.16 1, 8.55, 618 490, 238 26.41 1, .576, 013 405, 773 25. 75 18, 206, 983 6, 390, 055 35.10 15,638,114 5, 135, 259 3"?. 84 251, 372 92, 558 117, 7.35 9, 256 46.84 10.00 395,4.54 79, 680 84,900 7,968 43. 44 10.00 59, 542, 660 19, 567, 903 32.86 56, 221, 508 15, 830, 839 28 16 106, 389, 032 59, 542, 660 19, 567, 903 32.86 111,808,141 66, 221, 508 15, 830.839 28 16 165, 931, 692 19, 567, 903 1L79 168, 029, 649 15, 830, 839 9 42 P e r ct. 15 60 Recapitulation. T o t a l free of d u t y Total dutiable T o t a l Class B CLASS C — A R T I C L E S W H O L L Y OR P A R T I A L L Y M A N U F A C T U R E D , F O R U S E A S M A TERIALS IN T H E MANUFACTURES A N D MECHANIC ARTS. F r e e of duty. Chemicals, d r u g s , a n d dyes, n o t elsew h e r e specified:' Acids..: Albumen and lactarine Alizarine, n a t u r a l o r artificial . . Aniline salts and annatto . . . lodigo L i m e , chloride of M a d d e r , e x t r a c t of P o t a s h , m u r i a t e of Quinine, s u l p h a t e a n d o t h e r s a l t s of Soda, n i t r a t e of, or c u b i c n i t e r . . S u g a r of m i l k a n d s u l p h u r l a c . . T u r p e n t i n e , Venice, a n d u r a n i u m All other T o t a l chemicals, d r u g s , e t c Coir y a r n . . . . : • F e a t h e i s for beds, a n d d o w n s Felt, adhesive, for s h e a t h i n g v e s s e l s 474, 512 102, 215 356, 748 138, 736 2,734,117 1,573,168 8,779 592, 432 550,251 114 594 416, 447 156, 542 2, 23.5, 663 1, 672,130 1,141, 373 2,614162 50, 593 47,152 382,657 679, 300 2, 449, 639 19, 656 7,755 173, 962 10, 016, 644 9, 298, 028 141, 091 204, 962 29,229 141, 096 154, 443 43, 224 822, 089 CXII REPORT OF T H E SECRETARY O F T H E TREASl!lRY. T A B L E R . — S T A T E M E N T S H O W I N G T H E V A L U E OF IMPORTED M E R C H A N D I S E E N T E R E D ' FOR CONSUXMPTION IN THE UNITED STATES, ETC.—Continued. CLASS C—ARTICLES WHOLLY OR P A R T I A L L Y MANUFACTURED, FOR USE AS M A TERIALS I N THE MANUFACTURES AND MECHANIC ARTS—Continued. 1887. 1888. Duty. A d valorem r a t e of duty. Dollars. P e r ct. Articles. Value. Value. Duty. A d valorem r a t e of duty. Dollars. P e r ct. \ F r e e of d u t y - C o n t i n u e d . H a i r , h o g s ' , c u r l e d for b e d s a n d m a t tresses Oils, n o t e l s e w h e r e specified -... A l l o t h e r free a r t i c l e s . . . . . . . . . . . . . T o t a l free of d u t y • Dollars. 3,457 1, 736, 240 18, 260 12,149, 883 Dollars. 2, 551 2, 029, 784 23,491 11, 692, 617 Dutiable. Button materials: Lastings, mohair cloth, e t c C e m e n t , R o m a n , a n d all o t b e r Chalk, prepared, French, red, etc .. Chemicals, d r u g s , a n d dyes, n o t elsew h e r e specified: Acids A n i l i n e d y e s o r colors Chemical salts or preparations, n o t e l s e w h e r e s p e d tied E x t r a c t s : H e m l o c k , indigo, logwood, a n d o t h e r d y e - w o o d s Glycerine' O p i u m , c r u d e , p r e p a r e d for s m o k i n g , a n d e x t r a c t of, a n d morphia Potassa or potash Soda, a n d s a l t s of Sumac All other . . . 303, 911 1,102, 532 15, 038 . 30,391 220, 506 3,008 10.00 20.00 20.00 486, 783 1, 900, 543 15, 749 48, 678 380,109 3.150 30 00 20.00 20.00 92, 207 1, 540,813 33, 566 539, 285 36.40 35.00 75. 054 1, 446,180 33, 261 506,163 44.32 35 00 386,140 96, 535 25.00 512, 967 128, 242 25.00 439, 680 1, 016, 084 48, 947 2^4, 2l5 11.13 2 8 96 233, 880 1,107, 692 23,585 249, 727 10.08 1, 091. 593 296,613 1,632,483 64,425 317, 888 66.41 29.90 34. 24 13.81 29.08 1, 485, 299 949, 297 4, 488,783 362, 887 1, 362, 221 4,415,580 35.50 9, 211 4, 600 1, 643, 784 992, 027 4, 767, 835 .466,378 1, 093,110 T o t a l chemicals, d r u g s , d y e s , e t c 12,438, 058 Coloring for b r a n d y C o p p e r : P l a t e s , rolled, sheets, r o d s , p i p e s , etc., a n d s h e a t h i n g or y e l l o w . 1, 038, 278, 1, 668, 59, 375, '>.'>. 5 4 750 358 089 743 032 69 94 29.38 37.16 16.52 27 53 12, 024, 260 4, 360, 950 36.27 50.00 9,686 4,843 50 00 62, 841 1,350 a33.88 75, 848 3,233 a34.45 C o t t o n , m a n u f a c t u r e s of: T h r e a d , y a r n , w a r p s , o r Avarp y a r n , n o t on spools Emery grains and ground 919, 702 29, 833 423, 760 6,744 46.08 22. 60 949, 544 19, 640 436, 545 5,159 45.97 26. 27 Flax, hemp, jute, and other textile grasses: ' . . Oil-cloth f o u n d a t i o n s for floor cloths .• -. . . Yarns 1,019 789,176 408 276,187 40.00 35.00 905, 881 317, 058 35.00 790,195 276, 595 35.00 905, 881 317, 058 35.00 4, 373, 619 35, 644 479, 756 874, 724 7,129 95, 951 20.00 20.00 20.00 4, 722,279 38, 260 483, 422 944,456 7,652 96, 685 20 00 20.00 20.00 5,899 3,658 28.11 2,107 3,077 56, 627 36,942 29.92 44, 635 13,390 4, 271, 765 862, 265 20.39 4, 955, 320 1,003,886 T o t a l flax, h e m p e t c F u r s : D r e s s e d on t h e skin, a n d h a t ters' furs Glucose Glue Gold a n d silver, m a n u f a c t u r e s of: Gold leaf a n d s i l v e r leaf H a i r , m a n u f a c t u r e s of: C u r l e d h a i r for beds, hair-cloth, a n d h a i r seatings H a t s , b o n n e t s , a n d hoods, material's f o r : B r a i d s , plaits, flats, e t c . , of straw, etc • a See note on page cvn. 51 08 30.00 20.26 . . <=• DUTIES COLLECTED ON IMPORTS, E T C CXIII T A B L E R . — S T A T E M E N T SHOWING T H E V A L U E O P IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. CLASS C—ARTICLES WHOLLY OR P A R T I A L L Y MANUFACTURED, FOR USE AS MATERIALS I N T H E MANUFACTURES AND MECHANIC ARTS—Continued. 1888. 1887. Duty. Ad valorem rate of duty. Value. Duty. Dollars. 660, 520 54,541 Per ct. 5L09 35.49 Dollars. 990, 058 175,132 Dollars. 524, 014 112,278 10, 622 114,624 35, no 46.23 30, 228 279,114 10, 580 126, 477 35.00 45.31 50, 900 40.25 158, 033 60,216 38.10 234, 709 39.19 823,497 , 352,889 42.85 5, 706,434 33.80 19,034,821 6,322,243 33.21 48,996 t, 717,481 30.78 40.66 166, 356 3, 679, 040 50,881 1,491, 329 30.59 40.54 4,794 70, P50 34 58 16.16 31, 510 504,968 12, 688 113,122 40.26 22.40 5,928 a50.37 26, 604 a49.02 7,857 52, 833 4,707 24, 618 60.00 • 46.75 8L80 Articles. Value. Ad valorem rate of duty. Dutiable—Continued. Iron and steel, and manufactures of: Bar-iron— Dollars. Bars or shapes of rolled iron. 1, 292, 782 Bars, rolled or hammered... 153, 696 All other, and slabs, blooms, or loops 30,348 Hoop, band,*scroll, or other iron. 247,853 Sheets, plates,and taggers' iron: Boiler or other plate, and sheet - iron, common or . black 126,464 Sheets or plates of iron and steel (except what are known as tin-plates) „ 598,861 Sheets or plates, known as tin - plates, terne - plates, and taggers' tin 16,883,814 Taggers' iron, put up in boxes or bundles or n o t . . . i59,195 Wire-rods, of iron and steel 4,223, 612 WireIron ...„„„ a 13, 863 Steel 433,460 Wire rope and wire-strand— Made of iron wire 11,769 Made of steel wire 54,276 Wheels of steel, and tired steel wheels, etc 274,112 Total iron and steel Lead, In sheets and pipes . Leather, bend or belting, calf-skin, skins for morocco, upper leather of all kinds, etc Lim© ..' Malt, barley Marble arid stone, rough or un. dressed Metal, metal compositions, and manufactures of, not elsewhere specified: Bronze or Dutch metal, in leaf and powder Mineral substances, not elsewhere specified: Polishing powder Oils: Animal: Cod-liver, neat's-foot, seal, whale, and fish Mineral: Naphtha,benzine, and petroleum, crude Vegetable, fixed or expressed— Castor, croton, flax-seed, hemp-seed, rape-seed, nut, olive, not salad, andother, not elsewhere specified Vegetable, volatile or essential— Bay leaves,cognac,fruit ethers, fusel oil, etc „ Total oils n . Ex. 2 — V I I I Per ct 52.92 64.11 . 214.529 78.26 356, 037 291, 222 24,504,105 8, 920, 732 36.41 26,289,485 9, 497, 264 950 578 60.84 1,268 6, 325, 704 57, 226 153,359 1,067,527 5,723 41,993 16.88 lu.OO 27.38 6,758,'517 92, 923 164, 535 1,116, 600 9,292 43,301 16.52 10.00 26.32 368,001 106, 749 29.01 383, 007 133, 853 34 95 608,214 84,464 13.89 700,173 97,459 13.92 28,455 5,691 20.00 37,224 7,445 20.00 87,561 21,890 25.00 94,914 C 23,729 25.00 11,565 2,313 20.00 14,984 2,991 19.96 179,729 47, 701 26.54 287,472 74,363 a26.57 333,471 34, 374 25.75 138, 972 34,020 24 52 106, 278 a25.78 536,342 135,103 a25.19 412,326 a See note on page cvii. 63.71 CXIV REPORT OF THE SECRETARY OP THE TREASURY. T A B L E R . — S T A T E M E N T S H O W I N G T H E V A L U E O F IMPORTED M E R C H A N D I S E E N T E R E I > FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. CLASS C — A R T I C L E S WHOLLY OR P A R T I A L L Y MANUFACTURED, FOR USE AS MAT E R I A L S I N T H E MANUFACTURES AND MECHANIC ARTS—Continued. ' 1888. 1887.' Articles. Value. Duty. A d valorem r a t e of duty. Value. Duty. A d valorem r a t e of duty. Dutiable—Continued. P a i n t s a n d colors P l a s t e r of P a r i s , g r o u n d or c a l c i n e d . S i l k : F l o s s silk i n t h e g u m . and s p u n silk ?.. tTmbrella a n d p a r a s o l r i b s a n d s t r e t c h e r s , frames, t i p s , e t c W o o d , m a n u f a c t u r e s of: B o a r d s , p l a n k s , deals, e t o * Clapboards Staves Cabinet or house furniture, n o t flnished; o.sier p r e p a r e d for use, a n d r a t t a n s a n d r e e d s . . . T o t a l wood, e t c W o o l s , m a n u f a c t u r e s of: Y a r n s , woolen a n d w o r s t e d Zinc, s p e l t e r o r t u t e n e g u e : In sbeets AU other dutiable articles T O T A L DUTIABLE i.. Dollars. 1, 220, 806 33, 737 Dollars. 399, 533 6,747 P e r ct. 32. 73 20.00 Dollars. 1,239, 092 25, 683 Dollars. 411,795 5,137 P e r ct. 33.23 20.00 453, 285 134, 995 29.78 593, 719 177,970 29 97 80, 312 27,733 34,53 103, 620 36, 345 35.08 5, 825, 320 58, 953 304,031 930, 653 6, 362 30, 403 15.97 10.79 10.00 6, 526,172 43, 809 419, 925 1, 038, 339 4, 670 41, 993 15.91 10.66 10.00 224,414 27, 308 12,17 266,275 30,100 n.30 6, 412, 718' 994, 726 15.61 7, 256,181 1,115,102 15.37 1, 747, 562 1, 207,735 69.11 1,990,155 1, 302,293 .68.45 26, 668 177, 382 18, 931 22,143 70.99 12. 48 23, 966 183, 798 10, 292 31,807 67.98 17.30 67, 505, 441 20, 393,493 aSO. 21 73,013, 645 21,824,738 a 29.89 12,149, 883 67, 505, 441 20, 393,493 a30.21 11, 692, 617 73,013,645 21, 824, 738 a 29.89 79, 655, 324 20, 393, 493 25. 60 84, 706,262 21,824,738 25. 77 Recapitulation, T o t a l free of d u t y Total dutiable ..... T o t a l Class C CLASS D.—MANUFACTURED ARTICLES, R E A D Y FOR CONSUMPTION. Free of duty. Articles specially imported: For the use of the United States. Philosophical and scientific apparatus, etc., for the use of any religious or scientific institution, and not intended for sale Articles, the growth, produce, or manufacture of the United States, returned » Bolting-cl oths Books and other glinted matter, not elsewhere specified Fashion plates Gold-beaters' molds and gold-beaters' skins , Gold size Hones and whetstones Household effects, etc., of persons arriving in the United States and of citizens of the United States dying abroad Indians' goods Manuscripts Models of inventions, etc Platina vases, etc., for chemical^iises 18,283 29,091 79, 962 134, 967 6,401, 829 271,693 i, 586, 973 297, 807 968, 466 5, 280 978, 825 5,467 25, 656 7,461 22, 853 28, 630 8,613 26, 012 2, 661, 867 1,124 8,078 7, 532 58, 925 See note on page cvn :, 023,142 3,833 9,069 2,426 52, 295 DUTIES COLLECTED ON IMPORTS, ETC. CXV TABLE R.—STATEMENT SHOWING THE VALUE OF IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. > CLASS D . - M A N U F A C T U R E D ARTICLES, R E A D Y FOR CONSUMPTION—Continued. 1887. 1888. Valne. Duty. Advalorem r a t e of duty. Dollars. 8,415 .Dollars. P e r ct. Articles. F r e e of d u t y — C o n t i n u e d . S k e l e t o n s a n d o t h e r p r e p a r a t i o n s of anatomy .. -. S p u r s a n d stilts, u s e d i n t h e m a n u f a c ^ r e of e a r t h e n , s t o n e , a n d crockery ware .-. W o o d : F i r e w o o d , h o p poles, a n d A l l o t h e r free a r t i c l e s T O T A L F R E E O F DUTY Duty. Advalorem r a t e of duty. Dollars. Per ct Value. 3 Dollars. 12,523 947 1,123 • 815, 572 201, 546 1, 033, 539 203, 953 11, 665, 665 11, 438, 012 ' Dutiable. Blackin*'' .. ... ................ B l a d d e r s m a n u f a c t u r e s of Books, engravings, and other printed matter, bound or unbound Brushes .' Candles and tapers C a n i a ^ e s a n d p a r t s of Chemicals, drugs, dyes, etc., n o t e l s e w h e r e specified: P r e p a r a t i o n s , m e d i c i n a l a n d proprietary Clocks and,watches, and parts of... C o p p e r , m a n u f a c t u r e s of, n o t elsew h e r e specified Corks, and cork bark, manufactured. Corsets C o t t o n , m a n u f a c t u r e s of: T h r e a d o n spools Cloth— N o t e x c e e d i n g 100 t h r e a d s to t h e square inch E x c e e d i n g 100 a n d n o t exc e e d i n g 200 t h r e a d s t o t h e square inch E x c e e d i n g 200 t h r e a d s t o V e l v e t s , velveteen, e t c Clothing, r e a d y - m a d e , a n d o t h e r wearing apparel Cords, b r a i d s , g i m p s , galloons, laces, e t c K n i t goods: Shirts, drawers, and hosiery . . All other 63, 552 11 15, 888 3 25.00 25.00 67, 475 57 16, 869 14 25.00 25 00 2, 736,138 373, 771 4175 5.57, 348 3,469,016 39, 617 242,999 684, 004 168, 098 1,044 167, 204 867, 254 7,923 85, 040 25.00 44. 97 25.00 30.00 25.00 20. 00 35.00 2, 882, 550 272, 029 2,899 630,845 3,218,526 26, 463 181, 277 720, 610 120, 667 725 189, 254 804 631 5, 293 63,447 25.00 44. 36 25.00 30.00 25 00 20.00 35.00 403,135 1, 882, 564 175, 555 489, 326 43. 55 25.99 473, 687 2, 046, 056 213,176 530, 566 45.00 . 25.93 48, 217 20!), 532 1, 058, 793 21, 697 52, 383 370, 678 45.00 25.00 35.00 19,090 265, 342 1, 034, 763 7,906 66, 235 362,167 045.00 25.00 35.00 95,167 51,222 53.82 104, 590 59,816 57.19 161, 455 .117,582 72.83 ' 137,475 86, 679 63.05 2,176, 238 973, 203 4 4 72 1, 936, 338 858, ,353 44.33 1, 217, 654 526, 416 901,186 43.23 1, 500, 485 1, 352,460 639,455 540, 984 42. 62 40.00 381, 553 133, 544 35.00 538, 840 188, 594 35.00 2, 252, 965 456, 751 40.00 159, 863 35.00 211, 917 605,478 6, 88.5, 060 3,738,116 2, 702, 709 1, 378, 308 35.00 39.37 36.87 6, 635, 667 4 060,166 2, 604, 708 1,499,386 39. 25 36.93 17, 568, 884 7, 022, 406 39.97 16,647, 574 6, 611,,519 39.71 E a r t h e n , stone, a n d c h i n a w a r e : B r i c k s a n d tiles Earthen, stone, and c h i n a w a r e . . 162, 210 5, 545, 883 34,188 3, 217,693 21.08 58.02 185, .348 6,.076, 990 39,129 3, 529,148 21.11 58.07 Total e a r t h e n , stone, a n d c h i n a "waTe .. ...... 5, 708. 093 3, 251, 881 56.97 6, 262, 338 3, 568, 277 56.98 4,140 1,932 828 386 20.00 20.00 389 20.00 Total cotton manufactures E l e c t r i c l i g h t s , a n d p a r t s of Feather beds ...... F e l t for roofing 1,947 —. a See note on page CVIL CXVI REPORT OF THE SECRETARY OF THE TREASURY. TABLE R.—STATEMENT SHOWING THE VALUE OF IMPORTED MERCHANDISE ENTERED FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. CLASS D . — M A N U F A C T U R E D AR,TICLES R E A D Y F O R CONSUMPTION—Continued. 1887. 1888. Articles. Value. Dutiable—Continued. DoUars. Flax, hemp, jute, and other textile g r a s s e s , m a n u f a c t u r e s of: B a g g i n g for c o t t o n 26,727 . Bags and bagging 936,041 B r o w n a n d bleached linens, duck, canvas, etc - 13, 589, 446. 3,756, 795 Burlaps : C a r p e t i n g of h e m p o r j u t e , a n d grass-cloth 143, 812 Oil-cloths for floors 308, 337 Sail d u c k a n d s h e e t i n g s 19, 327 6, 233 Seines 638, 552 Thread, twine, and pack-thread . 86, 269 Cables a n d c o r d a g e 482, 956 All other T o t a l flax, h e m p , e t c . , m a n u factures F u r s , m a n u f a c t u r e s of Glass a n d g l a s s w a r e : P l a t e glass W i n d o w - glass, c y l i n d e r crown All other A d valorem r a t e of duty. Value. Duty. A d valorem r a t e of duty. DoUars. Per ct Dollars. DoUars. P e r ct. 14,467 374,416 5413 '40.00 463 757,633 332 300, 653 n.59 40.00 4, 756, 297 1,176, 706 35.00 3L32 14,193, 291 4,070, 738 4,967, 652 1, 275, 383 35.00 3L33 43, 322 123, 335 6; 019 1,558 255,421 26,736 170, 028 30.12 40.00 31.14 25. 00 40.00 30.99 35.21 95, 032 333, 257 21, 650 20, 658 610, 263 57, 029 610, 344 27, 492 , 133,303 6, 685 5,164 244 105 16, 071 216, 590 28.93 40.00 30.88 25. 00 40.00 28.18 35.48 19, 994, 495 6, 948, 305 20, 764, 358 7,193, 430 3 4 64 171, 647 5 4 494 30.00 89,134 26, 740 30.00 2, 953,829 1, 697, 306 57.46 3,115, 463 1, 597, 279 51. 27 1,489, 702 2, 857, 809 1, 376, 233 1, 436, 773 92.38 a50.28 1, 525,796 3, 080,194 1,603,792 1, 598,181 10.51 a51. 39 7,301, 340 4,510,312 a59.01 7, 721,453 4, 799, 252 a62.16 91, 014 35,196 38.67 107, 411 38,066 35.44 38, 053 12, 683 33.33 36, 548 12, 270 33.57 631,146 189, 344 30.00 793, 432 238, 029 30.00 263. 744 103, 659 76, 048 31, 098 28.83 30.00 295, 528 100, 949 85, 685 30, 285 28.99 30.00 122,125 51, 567 42.22 182, 044 61, 598 33.84 ' 1,888 1,406 7448 9,053 6,961 76.89 998,441 841,941 84,33 3, 485, 579 2, 623, 274 75.26 32, 508 84, 938 345, 997 9,759 38,118 121, 099 30.02 4 4 88 35.00 41, 728 92, 390 518, 963 15, 962 43, 098 181, 637 38.25 46.65 35.00 1, 889, 064 68, 334 •985, 817 874,151 39, 933 315, 369 46.27 58.44 3L99 2, 208,542 64,956 1, 058,132 1, 004, 442 39,279 333, 622 45.48 CO. 47 31.53 5,545 314, 524 3,553 79, 335 6 4 08 25.22 13, 221 319. 463 9,629 80, 834 72. 83 25.30 4,843 25,423 2,979 8. 975 6L51 35.30 9, 820 32. 829 8,164 10, 592 83.13 32. 26 and Total glass and glassware G u n p o w d e r , fulminates, a n d p e r c u s sion c a p s H a i r , m a n u f a c t u r e s of, a n d h a i r pencils H a t s , b o n n e t s , a n d hoods, of g r a s s , s t r a w , willow, e t c India-rubber and gutta-percha, m a n u f a c t u r e s of I n k s and ink-powders I r o n a n d s t e e l , a n d m a n u f a c t u r e s of: A x l e s , axle-bars, a n c h o r s a n d p a r t s thereof, a n d a n v i l s B a r s o r r a i l s for r a i l w a y s — T e e rails, iron O t h e r rails, i r o n or steel, o r in p a r t of steel Cast-iron pipes, cast-iron vessels, p l a t e s , stove-plates, a n d i r o n s , sad irons, h a t t e r s ' irons, all c a s t i n g s n o t e l s e w h e r e specified, a n d malleable-iron castings C h a i n or c h a i n s Cotton-ties C u t l e r y : Penknives, pocketknives, razors, sword-blades, and cutlery n o t elsewhere specified F i l e s , file-blanks,rasps a n d floats Fire-arms H o l l o W: w a r e , nails, s p i k e s , t a c k s , and brads ^ Needles N u t s a n d w a s h e r s , r a i l w a y fishplates, rivets, bolts,and hinges, or h i n g e - b l a n k s Saws Duty. a See n o t e on p a g e c v n . CXVII D U T I E S COLLECTED ON IMPORTS, E T C . TABLE R.—STATEMENT SHOWING THE VALUE OF IMPORTED MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, .ETC.—Continued. CLASS D . - M A N U F A C T U R E D ARTICLES, R E A D Y F O R CONSUMPTION—Continued. 1888. 1887. Articles. Value. Duty. A d valorem r a t e of duty. Value. Dollars. 3,746 Duty. A d valorem r a t e of duty. Dutiable—Continued. ' I r o n a n d steel, e t c . — C o n t i n u e d . S c r e w s for wood A l l o t h e r m a n u f a c t u r e s of i r o n a n d steel , Total iron a n d steel . L e a d : Shot, a n d m a n u f a c t u r e s of lead,not elsewhere specified...... L e a t h e r : Gloves a n d other manuf a c t u r e s of l e a t h e r M a r b l e , slate, a n d stone, m a n u f a c t u r e s of Matches M a t t i n g a n d m a t s for floors, of vegetable substances M e t a l s , m e t a l compositions, a n d m a n u f a c t u r e s of, n o t e l s e w h e r e specified: B r o n z e , m a n u f a c t u r e s of Britannia a n d japanned wares, pens, pins, plated a n d gilt w a r e s , p e n t i p s a n d p e n holde r s , g e r m a n silver, p l a t i n a , stereotype plates, p e w t e r , t y p e s , a n d a l l o t h e r n o t elsew h e r e specified Mineral substances, not elsewhere specified: A g a t e s , asbestos, a n d p l u m b a g o . Palm-leaf, m a n u f a c t u r e s of P a p e r , a n d m a n u f a c t u r e s of, n o t elsew h e r e specified Pencils, lead Philosophical apparatus and instru, ments Repairs on vessels S a d d l e r y , coach, a n d h a r n e s s h a r d ware, etc S i l k : S e w i n g silk, silk i n t h e g u m , and twist Soap Sponges Starch , S t r a w , m a n u f a c t u r e s of T i n , m a n u f a c r u r e s of T o o t h p i c k s , quill Umbrellas, parasols, and shades Varnishes • W a x , a n d m a n u f a c t u r e s of W h a l e b o n e , m a n u f a c t u r e s of W o o d , m a n u f a c t u r e s of: Cabinet wares, finished , Laths, pickets, and palings Shingles Osier a n d willow b a s k e t s a n d wares A l l m a n u f a c t u r e s of, n o t elsew h e r e specified T o t a l wood m a n u f a c t u r e s . Wool, m a n u f a c t u r e s of: Balmorals Blankets Bunting , Dollars. 3,719 Dollars. 1,880 Per ct 50.65 3, 356, 286 1, 600,738 a47.69 8, 239, 452 3, 990, 803 a48.44 DoUars. 2,017 Per ct 53.89 3, 580, 689 1, 672,820 a46.72 11, 621,155 6,093,929 458 200 45.85 2, 362, 649 48.09 113, 688 20, 567 45, 777 7,198 40.26 35.00 20.00 962, 385 192,477 20.00 108, 286 45.00 182, 507 82,128 45.00 1,636,422 677,880 4L42 1,891,127 778,789 4L18 1,133 6,571 281 1,971 2 4 80 30.00 1,367 5,983 334 1,795 24 43 30.00 1, 98i, 224 124, 869 420, 578 56, 861 2L23 45.54 2, 374, 546 119, 770 465, 889 60, 099 19.62 50.18 11, 342 3,615 3,970 1,807 35.00 50.00 38, 509 1,866 13,478 933 35.00 50.00 184,259 64,491 35.00 192,109 67,238 35.00 1,110 139, 398 53, 730 154 076 22, 566 59,329 3,041 24, 260 37, 711 4,267 30.00 28.98 20.00 95.93 29.15 a4.5. 00 20.00 47.54 4 4 16 20. 00 30.00 123, 035 48, 751 56,110 35.00, 13.35 16.93 360 102 45.00 4, 607, 866 2, 219, 835 48.16 98, 762 25, 458 39, 063 8, 910 39.55 35.00 885,909 177,194 240,635 949 436,224 302,510 17, 035 38,131 38, 829 18, 584 72, 430 82. 380 6,697 1,126 30.00 285 117,131 a26. 89 20.00 60,502 82.35 14, 029 29.17 11,122 56, 581 a45.00 20.00 3,717 47.57 34,453 4416 36, 379 20.00 1,139 30.00 338 376,788 273, 984 185, 611 131, 876 35,191 31, 355 35.00^ 12:84 16.89 312,179 . 93,654 30.00 334, 007 100, 202 30.00 600.181 204, 014 33.99 685, 543 230, 537 33.63 27.02 54.62 69.79 50.09 1, 748,743 496,090 28.37 2,067, 501 558, 635 3,039 3,887 53 2,030 2,785 43 66.79 71.65 8L13 132 ,235 4 73 5,049 2 * See n o t e o n p a g e c v n . CXVIII REPORT OF THE SECRETARY OF THE TREA.SURY. TABLE R.—STATEMENT SHOWING THE VALUE OF IMPORTED MERCHANDISE ENTEREI> FOR CONSUMPTION INTO T H E U N I T E D STATES, ETC.—Continued. CLASS D . - M A N U F A C T U R E D A R T I C L E S , R E A D Y F O R C O N S U M P T I O N - C o n t i n u e d . 1888. 1887. Articles. Value. Dutiable—Continued. W o o l , m a n u f a c t u r e s of—Continued. Carpets and carpeting Clothihg,ready-made, and wearing apparel •. C l o t h s , woolen D r e s s goods, w o m e n ' s a u d child r e n ' s coat linings, a n d I t a l i a n c l o t h s of e v e r y d e s c r i p t i o n E n d l e s s b e l t s o r felts Flannels H a t s of wool K n i t goods : H o s i e r y , s h i r t s , drawers, etc S h a w l s , woolen W e b b i n g s , gorings, s u s p e n d e r s , etc A l l o t h e r , n o t e l s e w h e r e specified A d valorem Tfhte of duty. Value. Duty. A d valorem r a t e of duty. Dollars. 1,472,656 Dollars. 701,549 Per ct 47.64 DoUars. 1,371,399 DoUars. 651,386 Per ct 47.50 1,461, 243 10,022, 371 896,472 7,055, 825 61.35 70.40 1,400,761 10, 851,416 820, 376 7, 723, 012 58.57 7L17 975 379 674 562 72.09 62. 87 70.02 5 4 01 18, 742, 158, 659, 14, 493 855 441 003 13, 735, 796 83, 908 460,178 8,307 73.29 52.82 69.78 59.33 1, 243, 689 654,008 62.80 63.50 1, 738, 249 975, 564 1, 071, 631 632,410 61.65 6483 293, 850 66.21 632, 987 423, 600 66.92 4, 560,905 68.52 7,039, 342 4, 829,327 68.60 43, 591,881 30, 445, 055 17,199,141 167,166 185, 204 6,595 12, 398, 88, 129, 3, • 8 1, 980,454 1, 029, 998 443, 809 6,656,449 T o t a l woolen m a n u f a c t u r e s . . . 40, 632, 065 Zinc, spelter, a n d t u t e n e g u e : M a n u f a c t u r e s of, n o t e l s e w h e r e specified Duty. 28, 031,746 3,652 8,117 AU o t h e r d u t i a b l e a r t i c l e s . 65, 334 T O T A L DUTIABLE. . . . " 45.00 8, 522 45.00 40, 615 23,622 07,426,547 a50. 56 11,438, 012 133,352, 873 67, 426. 547 a50.56 45.50 144, 790, 885 67,426,547 46.57 124, 473,106 61,898,366 a49. 73 133, 352, 873 Recapitulation. T o t a l free of d u t y . . . . . Total dutiable 11, 66.5, 665 124,473,106 61,898, 366 Total C l a s s D . 136,038,771 61, 898, 866 CLASS E . — A R T I C L E S O F V O L U N T A R Y USE, L U X U R I E S , E T C . F r e e of d u t y . Amber beads A r t i c l e s s p e c i a l l y i m p o r t e d : Regalia, gems, s p e c i m e n s of n a t u r a l h i s t o r y , w o r k s of a r t , e t c . , speciaUy i m p o r t e d a n d n o t i n t e n d e d for s a l e A r t - w o r k s , n o t e l s e w h e r e specified, t h e p r b d u c t i o n of A m e r i c a n a r t i s t s C a b i n e t s of coins, m e d a l s , e t c .. • 18,777 10, Oil 277,160 180, 690 495,937 231,370 982 Diamonds rouf h or uncut 262, 357 63, 205 MiTiftrfll w a t e r s , n o t artificial . . . . 380, 299 AU other . . &2, 083, 985 509,650 556, 215 655 331, 927 37, 659 374,597 62,864,576 3, 805, 306 4, 874, 746 TOTAL F R E E O F DUTY . . . . Dutiable. A r t - w o r k s , n o t e l s e w h e r e specified, paintings and statuary. Cider Cotton embroideries Fancy articles: DoUs a n d t o y s F a n s , e x c e p t palm-leaf F e a t h e r s , n o t artificial a See n o t e on p a g e c v n . > • ... ^ 1, 925, 906 499 10, 661, 301. 1, 646, 597 499, 791 1, 652, 055 577, 772 100 4, 264, 520 30.00 20.00 40.00 1, 440, 753 687 11,109, 585 432, 226 137 4,443, 834 30.00 20.00 40.00 576, 309 174, 927 514,388 35.00 35.00 3L14 1, 665, 773 491, 300 1, 363.787 583,020 171, 955 432,787 35.00 35. OD 3L73 & Mostly domestic spirits exported and brought back. CXIX DUTIES COLLECTED ON IMPORTS, E T C . T A B L E R.—STATEMENT SHOWING THE VALUE O F IMPORTED MERCHANDISE FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. ENTERED CLASS E . - A R T I C L E S OF VOLUNTARY USE, LUXURIES, E T C . - C o n t i n u e d . 1888. 1887. Articles. Value. Duty. A d valorem r a t e of duty. Value. Per ct Duty. \ A d valorem r a t e of duty. DwiiadZe—Continued. Fancy articles-Continued. F e a t h e r s a n d flowers, artificial and omamerital Perfumery a n d cosmetics. AU others Dollars, DoUars. 444,490 390,430 2, 552, 636 222,245 262,404 1,199,087 T o t a l fanc V a r t i c l e s . . . . . < . » . . . . 7,185,999 333,941 Fire-crackers Flax, hemp, jute, etc.: Laces a n d insertinffs .. . . . . . . o . ^ . . . . 1,142,473 Ginger ale or ginger beer 153, 377 G o l d a n d silver, m a n u f a c t u r e s of, n o t e l s e w h e r e snecified . .......... 434,809 H a i r , h u m a n : B r a c e l e t s , c u r l s , etc.i 2, 379 , J e t , m a n u f a c t u r e s a n d i m i t a t i o n s of. 54, 065 J e w e l r y a n d precious stones, n o t e l s e w h e r e specified . . o = . o o . « o . . . . . 10, 981,192 Liquors, spirituous and malt, a n d wines: Malt liquors ., S n i r i t s distilled Champagne and other sparkling wines o StiU w i n e s W^ineflavoring . . . . . . . . . . . . . . . . . Dollars. Dollars. 50.00 67 21 46 97 491,494 366,394 2,859, 074 245,747 247, 802 1, 341,431 2, 949, 360 4L04 7, 237, 822 3,022,742 332,941 100.00 274, 777 274,777 100.00 342,742 SO, 675 30 00 20 00 1, 345, 849 126,995 403, 605 25, 397 30 00 20.00 130, 410 833 13, 516 30 00 35.00 25 00 630,189 598 38, 899 179,828 209 9, 725 28 53 3.5. 00 25.00 10 58 11,032,311 1,182, 334 10 72 1,162, 300 Per c t 50.00 67.63 46 92 41 76 1, 267, 309 1, 909, 900 614,187 48 47 2, 939, 923 a l 5 4 01 1, 353, 889 1,972, 287 666, 666 a49.25 2, 981,772 a l 5 2 99 3, 295, 354 3,718,383 413 1, 735, 422 2,112,711 83 a52.72 a.50.84 20.00 3, 655, 083 3, 655,108 l", 903, 411 2, l l i , 395 a.52 12 a57.78 Total liquors and wines 10,191, 359 7, 402, 326 72.08 10, 636, 367 7, 663, 244 a72.23 M i n e r a l w a t e r s artificial Musical instruments Paplgrr m a n u f a c t u r e s of, n o t elsew h e r e specified: C a r d s for p l a y i n g . Photographs P r u n e wine 6,473 1, 613, 884 1,942 403, 471 Silk, m a n u f a c t u r e s of: B r a i d s , fringes, galloons, b u t tons, and ornaments D r e s s a n d p i e c e goods . . . H a n d k e r c h i e f s , h a t s , c a p s , bonnets, a n d hosiery Laces Ready-made clothing Ribbons Velvets AU other ' T O T A L DUTLAJBLE 1,614 456,907 30 00 25.00 3,031 34, 31.2 22, 833 3,031 8,578 4,567 100. 00 '>5 00 20 00 4,040 S5, 449 17, 060 4,040 8,861 3,412 25. 00 100.00 25.00 20.60 462,455 13, 961, 886 231,228 6,980,943 50.00 50.00 758,487 10, 936, 045 379, 244 ' 5,468,023 50 00 50 00 792,901 1,585,803 i 2,383,205 1,191,603 634,100 317, 050 1,970,954 985, 477 6,343,086 3,171, 543 3,468,554 1,734,277 50.00 50.00 50.00 50.00 50.00 50.00 1, 323, 471 2,068,651 680, 262 2,289,262 6,231,041 7,457, 990 661,735 1, 334,326 340,131 1,144,631 1 3,115,520 3,728,995 50.00 50.00 50 00 60.00 50.00 50 00 15,405, 022 50.00 32, 345,209 16,172,605 50.00 22, 665 10, 955,125 12,327 9,127, 758 5 4 39 83.32 24,653 12, 314,429 13, 639 9, 734, 987 55.14 79. 05 86, 531,039 42,174,328 a48.74 90,451,708 44, 033, 886 a48 70 3,805, 306 86, 531, 039 42,174,328 a48. 74 4, 874,746 90,451, 708 44, 033, 886 a48 70 90,336,345 42,174,328 a46. 69 95,326,454 44,033,886 aiQ. 21 T o t a l silk, m a n u f a c t u r e s o f . . . 30, 810, 043 S u g a r candy a n d confectionery T o b a c c o , a n d m a n u f a c t u r e s of 3oroo" 5, 381 1,827,628 Recapitulation. Totalfreeof duty Total dutiable Total C l a s s E a See note on page cvii. ^ cxx R E P O R T O F T H E SECRETARY O F T H E TREASURY. T A B L E R . — S T A T E M E N T S H O W I N G T H E V A L U E O F I M P O R T E D MERCHANDISE E N T E R E D FOR CONSUMPTION I N T H E U N I T E D STATES, ETC.—Continued. RECAPITULATION OF CLASSES. Year " end ing Juhe 30— (A) Articles of food, ? and animals. 5 (B) Articles in a' crude condition which enter into the various processes of domestic industry. C) Articles wholly • or partiaUy mauufactujed, for use as materials in • the manufactures and m e c h a n i c arts. (D) Articles manu-" faotured, ready • for consumption, 'i (E) Articles of vol-" untary use, luxu- . ries, etc. ) Value of— Total. Free of duty. Duty. Dutiable. Ad valorem rate on dutiable.a Per Per cent, cent. of of total total duty. value 1887 $99,183,773 $112,273,076 $211,456,849 $67,998,334 1888 104 291,336 115,114, 040 .219, 395, 376 64, 393,790 60. 57 56.00 32.07 30.16 30.94 30.80 1887 106, 389, 032 18S8 111, 808,141 32.86 28.16 9.23 7.42 24 28 23.59 79, 655, 324 20, 393, 493 84,706,262 21, 824, 738 30.21 29.89 9.62 10.22 1L66 1L90 1887 11, 565, 665 124,473,106 136,038, 771 61, 898,366 1888 11,438,012 133, 352, 873 144, 790,885 67,426,547 49.73 50.56 29.19 31.58 19.90 20.33 48.74 19.89 48. 70 - 20.63 13.22 13.38 59, 542, 660 165, 931, 692 19,567,903 56, 221,508 168, 029, 649 15, 830, 839 ^ 1887 1888 1887 1888 12,149, 883 11, 692, 617 3,805,306 4, 874, 746 67, 505,441 73,013,645 86, 531, 039 90, 451, 708 90, 336,345 42,174,328 95, 326, 454 44, 033, 886 233,093, 659 450, 325,322 683, 418,981 212, 032,424 T o t a l . . . . . . . . ; 1887 1888 244,104,852 468,143,774 •712, 248,626 213,509,802 ' See note on page CVIL 47.10 45.63 / R E C E I P T S FROM TAXES. CXXI T A B L E S.—STATEMENT S H O W I N G T H E R E C E I P T S FROM T A X E S FROM SOURCES DURING T H E YEAR ENDING J U N E 30, 1888. Sources. Revenue. INTOXICANTS: '• Distilled spirits (internal revenue) Distilled spirits (customs), Class E -.. Fermented liquors (internal revenue) Fermented liquors (customs), ClassE , Wines (customs), Cla.ss E , , , Ginger ale or ginger beer (customs). Class E . SUGAR, MOLASSES, AND C O N F E C T I O N E R Y . . . . . . . . - . . TOBACCO: (Internalrevenue). • Leaf (customs). Class E Manufactures of (customs), Class E WOOL, MANUFACTURES OF R A W MATERIALS : -- $69,306,166.41 2, 981, 772. 22 23,324 218.48 . 666,666.39 4, 014 805. 58 25, 397. 50 40, 397,418.87 32, 213,120.74 ,=..- 4,477,535. 21 1,796,817.75 1,115,811.23 397, 257. 68 552, 693.75 1, 755, 650. 65 645, 506.83 506,1.50.13 • 11,714 89 Other raw materials. Class B : Wool, raw .^ Flax, hemp, jute, sisal grass, etc . Coal, bituminous — Iron ore . Seeds Hops Bristles Copper, ore Zinc, and manufactures of Clays or earths Mait, barley r Sponges Grease Mineral substances, n. e. s Wood I...,, Oils, whale and fish 4, 729, 486. 50 2, 388, O02. 33 632, 250.88 693, 50L 01 385, 052.14 467, 861.56 148, 674 52 108, 542.48 10.5, 027.08 109, 898.17 43, 301.20 .53, 730.19 56, 692. 30 . 21, 698. 06 411.26 427.13 " Silk, manufactures of: Class C ClassD ClassE 11, 259,138.12 9, 950, 450. 81 4, 999,139. 57 9, 497, 263. 79 6, 093, 929.15 20, 590,332. 51 177,970.49 1,110.30 16,172, 604 69 Cotton, manufactures of: ClassC - ClassD ClassE.. 436, 544.81 6,611,518.72 4, 443, 833. 97 Flax, manufacturers of: ClassC ClassD , ClassE 905,880. 61 7,193,429.72 403, 604.76 Chemicals, drugs, dyes, and medicines: Class A Class B ClassC ClassD ClassE 11,692.40 30,167.24 4, 365, 791. 92 213,176.11 1, 614.27 Glass and glassware. Class D ... Leatbier, and manufactures bf: Class C.^ •.. ClassD Earthen, stone, and china ware, Class D . Fancy articles, Class E $100, 319, 026. 58 52, 007, 879. 89 30, 662, 431. 52 5, 884, 222. 73 3, 850, 764 62 Food, Class A : Fruits, including nuts Rice Breadstuffs - --Animals Salt I Vegetables Fish], Provisions, comprising meat and dairy products . Cocoa, prepared Iron and steel, and manufactares of: ' ClassB Class C ClassD VAnious, 16, 351, 685.48 Hi 491,897. 50 8, 502, 915. 09 $1,116,600.19 2, 362, 648. 70 4, 622.441. 94 4, 799, 251.52 $3,479,248.89 3, 568,276.56 3, 022, 742.22 CXXII KEPORT OF T H E SECRETARY OF T H E TREASURY. T A B L E S.—STATEMENT SHOWING T H E R E C E I P T S FROM T A X E S , ETC.—Continuedo. Sources. Reverna©. Wood, and manufactures of: Class B ClassC ClassD . $7,912.27 1,115,102.08 558,634 64 $1,681,648. m T A X E S ON KNOWLEDGE,' LITERATURE, ART, ETC. S 632,188.01 4,774.75 83, 535.61 Books, Class D ." Maps, Class D Engravings, Class D A r t works, Class E : Paintings Statu ary Musical instruments. Class E - 389,387.28 42, 838. 56 456, 907.12 1,609,63L 3 ^ H a t s , b o n n e t s , a n d hoods, a n d m a t e r i a l s f o r i Class C ClassD 1,003,885.91 238,029.54 J e w e l r y a n d p r e c i o u s stones, C l a s s E Buttons and button materials: Class C ClassD 1,241,915.45 1,182,334 3^ 48,678.25 804,631,43 853,309.68 F I N E S , PENALTIES, FORFEITURES, AND MISCELLANEOUS RECEIPTS t From From From From From From 69,475.10 264, 62 L 31 297, 902.82 60, 744 90 1.57,116.77 242. 689.51 labor, d r a y a g e , a n d s t o r a g e . service of U n i t e d S t a t e s officers. c u s t o m s officers' fees w e i g h i n g fees fines, p e n a l t i e s , , a n d f o r f e i t u r e s .. e m o l u m e n t fees 1,092,450.41 F u r s , a n d m a n u f a c t u r e s of: Class C ClassD 944,455.71 26, 740.15 M e t a l s , m e t a l compositions, a n d m a n u f a c t u r e s of; Class B Class G Class D 67, 256.09 97, 459. 45 860, 917.13 T a x on o l e o m a r g a r i n e ( i n t e r n a l r e v e n u e ) Tonnage t a x on'vessels engaged in t h e foreign t r a d e . P a i n t s a n d color.§. Class C A n i m a l s , o t h e r t h a n for food. C l a s s A P a p e r , a n d m a n u f a c t u r e s of: ClassD... ClassE 465, 888. 81 3,030.75 M a r b l e a n d stone, a n d m a n u f a c t u r e s o f : Class B . Class C ClassD 192, 940.43 133, 852.46 45, 776.79 971,195.8© 1,025,632.67 864139.88 491, 205.74 411, 795. U 535,112. I S 468, 919. 5& 372. 5G9. 6© 530; 566.42 362,167. 03 317,600. 0© Clocks a n d w a t c h e s , a n d p a r t s of. Class D C o r s e t s a n d c o r s e t cloth. C l a s s D T a x on seal-skins a n d i n c o m e from r e n t a l of s e a l i s l a n d s . . G u n p o w d e r a n d all e x p l o s i v e s u b s t a n c e s : Class D ClassE » « • 38,065.76 274, 776.66 312,842.42 Oils, m i n e r a l a n d v e g e t a b l e : Class A ClassC. 157,260.47 111, 374.17 Miscellaneous penalties (internal revenue). L e a d a n d m a n u f a c t u r e s of: Class B ClassC ClassD 145. 295.38 808.77 206.10 H a y , Class A Gold a n d silver, m a n u f a c t u r e s o f : ClassC ClassE Brass, and manufactures of: ClassB ClassD B r u s h e s of all k i n d s . C l a s s D C e m e n t , R o m a n , P o r t l a n d , a n d all o t h e r . C l a s s C . 268,634 64 155,547.6a 146,310.25 200, 809.51 1, 077.00 179, 827. 58 180,904.56 2, 957. 25 120, 667.22 123, 624 47 189,253.59 386,108.65 R E C E I P T S FROM TAXES. CXXIII T A B L E S.—STATEMENT SHOWING T H E R E C E I P T S FROM T A X E S , ETC.—Continned. Sources. Soap, Class D = -= Matting and mats for floors, ClassD Carriages, ahd parts of. Class D Glue, Class C = = Chicory root, ground or unground, burnt or prepared. Class A . Hair, and raanufactures of: ClassB ^ ClassC... == Class D o...., ClassE •India rubber and gutta percha, manufactures of, Class D . Spices, ground. Class A = Pencils, Class D Tin, manufactures of, ClassD UmbreUas, parasols, shades, and parts of: ClassC ClassD o Saddlery, coach and harness hardware. Class D . Varnish, Class D Cork, manufactures of. Class D .. I n k of all kinds and ink powders. Class D . . . Coal and coke (except bituminous), Class D Blacking of all kinds, ClassD Copper, and manufactures of: ClassB o Class C ClassD Straw, manufaclures of. Class D Matches, Class D Jet, manufactures of. Class E Gun-wads, Class D Glucose, Class C Polishing powder. Class C Starch, (Jlass D Philosophical apparatus and instruments. Class D . Plaster of Paris, ground, (iJlass C Vinegar, Class A Photographs, Class E Ginger, preserved, Class A ... Chocolate, Class A Emery, grains, etc.: ClassC ClassD Prune wine. Class E Candles, Class D Toothpicks, Class D Chalk, preparations, Class C Patent size. Class D Teeth, manufactured. Class D Packages, etc., designed to evade duties, Class D . Tar and pitch. Class B Repairs on vessel. Class D Wax, and manufactures of, Class D Electric lights, and parts of. Class D Coffee, substitutes. Class A Brooms of all kinds. Class D Whalebone, manufactures of. Class D Collodion, manufactures of: Class C ClassD Felt for roofing, ClassD o. Cider, ClassE «-.. Strings, gut, other than for musical instruments. Class D . Size, vegetable. Class C , Rosin, ClassB Plum pudding, Class A , Insects, prepared or not prepared. Class D , Unmanufactured articles, not elsewhere specified, Class B . Rags, not elsewhere specified or provided for. Class B Horn handles, etc.. Class D » Palm leaf manufactures. Class D Spirits of turpentine,. Class D , , Putty, ClassC : Stearine, Class D ,.., Drawings, ClassD Revenue.' $139,398.06 192,476.96 63,446.86 96, 684 51 121,188.22 $17,577.15 13,390.50 12,269.75 209.30 . 43,446.7& 85, 635. 03 72,764 78 60, 098. 86' 59,328. 66 36,345.20 24,259.89 60, 605. OS 67, 2S8.19 37, 711.27 66,325.49 30, 284.91 33, 534 81 16,868.7S 1,253.57 3, 232. 83 7,905.76 12,392.16 22, 565.78 7,198.27 9, 724. 76 4, 265. 65 7, 652. 00 7,444. 74 154, 076.41 13,478.15 5,136. 6© 6, 504 77 8, 577. 85- 5, 001.15 9, 989. 39^ 5,159.31 939.20 6, 098.51 4 566.60^ 5, 292.56. 3,040. 82 3,149.80' 2 4 04 1,248.6©^ 13, 522.41 2,174. 80 932.86 4,267.21 1, 563. 80 1,687. 56 $724 75 397. SC^' 24.60 -804 87 329.47 389,40 137.35 1,440.25 166.20 88.09 49.20 45.60 7,968.00 412.7© 88.00 1,79472 90.90' 13.01 2,717. m11L40 eh - I^ABLE T.—STATEMENT SIIOWING T H E F U E S E N T L I A B I L I T I E S O ^ TME IJNITED STATES TO I N D I A N TRIB:ES UNDER T R E A T Y STIPULATIONS. ^ a; ® c U( il ^ ilii Names of treaties. Description of annuities, etc. Reference to Number of installments yet unap- laws. Statutes at propriated, explanations, etc. Large. ^9f^ •+=.2 ^ . 2 X X + - ^ S ® == a P aa po £ ^ "-t^ ,.^8 ^ .^--^ fl 0 4 J hj O PO H fl,2 0 §*gg O fl a3 s ^ S 2 2 ^ 5 'I' flT3 ® H Apaches, Kiowas, and Comanches. Do... Do Do Arickarees, Gros Ventres, and Mandan s. Cheyennes and Arapahoes. Do. Do Chickasaw ChippewHS of the Mississippi. Chippewas, PiUager and L a k e Winnebagoshish bands. Choctaws Th'<rty installments, provided to be expended under the tenth article treaty of Oct. 21.1867. Purchase of clothing Do. Provisions for smiths, etc . Do. Intereston $390,257.92, articles ten and thirteen treaty of January 22, 1855. Nine installments, unappropri- Vol. 1.5, p. 584, §10 $270, 000. 00 ated, at $30,000 each. Tenth article treaty of October ...do $12, 000. 00 21, 1867. Fourteenth article treaty of Oc- Vol. 15, p. 585, §14 4, 500. 00 tober 21,1867. .-- do 2, 500. 00 do Seventh article treaty of July 27, Treaty not pub- 30, 000. 00 1866. lished. Pay of carpenter, farmer, blacksmith, miller, and engineer. Pay of physician and teacher Araount tb be expended iu such goods, etc., as the President may from time to time determine. Thirty installments, provided to be expended Nine installments, unappropriated, at $20,000 each. under tenth article treaty of October 28,1867. Purchase of clothing, same article Pay.of physician, carpenter, farmer, blacksmith, miller, engineer, and teacher. Permanent annuity in goods Forty-six installments to be paid to the chiefs Four installments, of $l,tOO each, due. of "the Mississippi Indians. Forty installments: in money, $10,666 66; Six instaUments of $22,666.60 each, goods, $8,000; and for purposes of utility, due. $4,000. Permanent annuities w Vol. 15, p. 596, § 10 Ul~ o po ^ PO 180, 000. CO O -. do 12, 000. 00 Vol. 15, p. 597, §13 6, 500. 00 Vol.1, p. 619 Vol.-O, p. 904, § 3 Vol. 10, p. 1168, § 3; vol.l3,p.694, §3. Second article treaty of Novem- Vol. 7, p. 99, § 2; vol. 11, p. 614 § ber 16, 1805, $3,000; thirteenth 13; vol.7,p.213, article treaty of October 18, 1820, § 13; vol.7, p. $600; second article treaty of 235, § 2. January 20, ]825,$6,000. Sixth article treaty of October 18, Vol.7,p. 212,§6; voL7,p.236,§9; 1820; ninth article treaty of vol.7, p.614.§ 13. January 20, 1825. Vol.11, p. 614§13 $3, 000. 00 4, 000.00 ' 135, 999. 96 ?> m 9, 600. 00 a 920. 00 19, 512. 89 $390, 257. 92 • Creeks. Do. DoDo. Do. Do. Do. Do. Crows . Do Do.. Do Do... lowas Indians .at Black. feet Agency. Indians at Fort Belknap Agency. Indians at Fort Peck Agency. Kansas Kickapoos Miamies of Kansas Do Molels Nez Perces . . . . Permanent annuities do do Smiths, shops, etc "Wheelwright, permanent Allowance, during the pleasure ofthe President, for blacksmiths, assistants, shops, aud tools, iron and steel, wagon-maker, education, and assistants in agricultural operations, etc. Interest on $200,000 held in trust, sixth article treaty August 7, 1856. Interest on $675,168 held in trust, third article treaty J u n e 14, 1886, to be expended under the direction ofthe Secretary ofthe Interior, For supplyiug male persons over fourteen years of age with a suit of good, substantial woolen clothing; females over twelve years of age a flannel skirt or goods to make the same, a pair of woolen hose, calico, and do-' mestic; and boys and girls under the ages named such flannel and cotton goods as their necessities may require. For pay of physician, carpenter, miller, engineer, farmer, and blacksmith. Twenty installments, for pay of teacher and for books and stationery. * Blacksmith, iron and steel, and for seeds and agl%ultural implements. Twenty-five instaiftraents of $30,000 each, in cash or other-^visej under the direction of the President. Interest on $57,500, being the balance on $C57,500. Ten installments of annuity at $150,000 each. Treaty of August 7, 1790 Vol. 7, p. 36, § 4 . . Treaty of J u n e 16, 1802 . . . . : VoL7, p. 69, § 2 . . Treaty of January 24. 1826 "... Vol.7, p. 287, § 4 . Vol. 7, p. 287, § 8 . do Treaty of January 24, 1826, and Vol.7,p.287,§8; August 7, 1856. vol. ll,p. 700,§5. Treaty of February 14, 1833, and Vol. 7, p. 419, §5; treaty of August 7, 1856. vol.ll,p.700,§5. Treaty of August 7, 1856. Vol. 11, p. 700,§6 Expended under the direction of the Secretary of the Interior. VoL14,p.786,§ Treatv of May 7,1868; ten installments of $15,000 each, due, estimated. Vol. 15, p. 651, §9 400, 000. 00 , 22. 200.00 12,000.00 840.00 270. 00 600.00 1,000.00 2, 000. 00 10, 000. 00 200, 000. 00 33,758.40 675, 168. 00 $150, 000.00, td I—( tri I—l H zn Treaty of May 7, 1^68 Vol. 15, p. 651,§9. One installment of $1,500, due . Vol.l5,p. 651,§7. Estimated at Vol.l5,p.651,§8. Eighteen instaUments, of $30,000 each, due. Actof AprU 11, 1882. O - 1 , 500. 00 Ten installments of annuity at $165,000 eack. Nine installments due . Interest on $200,000, %t 5 per cent I n t e ^ s t on $88,176.68, at 5 per cent. Permanent provision for smith's shops and Say $411.43 for shop and $262.62 miller, etc. for miller. Intereston$21,884.81, a t t h e j a t e o f 5percent., as per third article treaty of June 5, 1854. Pay of teacher to manual-labor school, and Treaty of December 21, 1855 . subsistence of pupMs, etc. Salary of two matrons for schools, two assist- Treaty of J u n e 9, 1863 ant teachers, farmer, carpenter, and two millers. I—l 1, 500. 00 U H-1 540, OOO. 00 Vol.l0,p.l071,§9. Nine installments due . Ten instaUments of annuity at $115,000 each. Nine installments due . 1, 500. 00 3, 000.00 20, 000. CO 1,110. 00 600. 00 > 2, 875. CO Act of May 1, 1888. ...do 57, 500. 00 1, 350, 000. 00 3 1, 035 000. 00 Ul 1, 485, 000. 00 .do . Vol. 9, p. 842, §2 Vol.l0,p.l079,§2. Vol."7, p. 191, §5. Vol.l0,p.i094,§3. VoL 12, p.982,§2. 3, 000.00 Vol.l4,p. 650, §5. 3, .500. 00 10, 000. 00 4, 408. 78 674.05 200, 000. 00 88,175, 68 13,48L 00 1,094 24 21, 884. 81 Q X X O X T A B L E T . — S T A T E M E N T SHOWING T H E P R E S E N T L I A B I L I T I E S OF T H E U N I T E D STATES TO INDIAN T R I B E S , ETC.—Continued. X <1 sill §•9.11 Names of treaties. Description of annuities, etc. Reference to Number of installments'yet unap- laws. Statutes at propriated, explanations, etc. Large. '•pi o a S po ^ (Dfli^fl® gflo.2j:-s ?S«.1 t: ^ .a .S ;5 '^ «3 S^iS fl ^ fl43 O fl o ® a g,oV2 fl P< QD •'' fl rt OO 2 •fl a os;^ bJt+3fl©.2 o PO H fl ftfl. fl.2 « ^««15 I fl -^ ca fl a P P,(:3 O ft <1 <1 Northern C h e y- Thirty installments, for purchase of clothing, ennes and Arapas per sixth article of treaty May 10,1868. ahoes. Do Pay of two teachers, two carpenters, two farmers, mUler, blacksmith, engineer, and physician. Interest on $69,120, at 5 per cent., for educational puiposes. Interest on $300,000, at 5 per cent., to be paid Do. semi-annually, in money or such articles as the Secretary of the Interior may direct. Otoes and Missou- Twelve instaUments, last seiies, in money or . otherwise rias. Annuity goods, and such articles as raay be Pawnees necessary. Support of two manual-labor schools and pay Do. of teachers. Do. For iron and steel and other necessary articles for shops, and pay of two blacksmiths, one of whom is to be tin and gun smith, and compensation of two strikers and apprentices. Farming utensils and stock, pay of farmer, Do. miller, and engineer, and compensation of apprentices to assist in working in the mill aud keeping in repair grist and sawmill. Amount to be expended during the pleasure Poncas of the President for purposes of civilization. Pottawatomies . Permanent annuity in money do ' Do do Do , d o . Do<. do Do o c8 'T:3"S.2 +3 ;-i rt <a 43 2^ 43 4) 5 4S C P r f l fl fl o m Ten installments, of $12,000 each, due. VoL 15, p. 657, §6 Estimated at Vol. 15, p.658,§7 Resolution of the Senate to treaty, January 2, 1885. Treaty of September 29, 1865 VoL 7, p. 242, §6 $3, 456. 00 $69,120. 00 H Vol.l4,p. 687, §1 15, 000. 00 SCO, 000. 00 % Six installments, of $5,000 each, due. Treaty of September 24, 1857 VoL10.p.l039,§4 $120, 000. CO zn o $9, 000. 00 PO Kj O VoL 11, p. 729, §2 Vol. 11, p.729,§3 10, 000. 00 Estimated for iron and steel, $500; two blacksmiths, $1,200; aud two strikers, $480. VoL 11, p. 729, §4 2, fSO. 00 Estimated VoL 11, p. 730, § 4 4, 4 0 0 . 0 0 Treaty of March 12,1868 VoL 12, p. 998, §2. 20, 0 0 0 . 0 0 August 3, 1795..^ September 30, 1809 October 2, 1818 September 20, 1828 July 29,1829 VoL 7, p.-.51, § 4 . . . Vol. 7, p. IH, §3-. Vol. 7, p. 185, §3.. Vol. 7, p. 317, §2.. VoL 7, p. 330, §2.. do >^ 30. 000. 00 H w > Ul "a 357. 80 178. 90 894 50 715. 60 5, 724. 77 7,156. 00 3, 578. 00 17,890.00 14,312.00 114,495.40 B o . . . i i a. i i 4 . . . j l^erthaiiefat i)iOYisioii for t k r e e t)tack§tjiitl a n d assistants, iron and steel. O c t o b e r 16, 1828; J^optembor 20, 1828; J u l y 29, 1829. Do. Do. ^ u l y 2 9 , 1829 S e p t e m b e r 20, 1828; J u n e 5 a n d 17, 1846. 1 u n e 5 a n d 17,1846 $1,000 for e d u c a t i o n , $5G0 for smith, e t c . T r e a t y of N o v e m b e r 3, 1804 Do.... Quapaws . S a c s a n d F o x e s of Mississippi. Do Do S a c s a n d F o x e s of Missouri. Do Seminoles Do... Senecas.. Do S e n e c a s of N . Y . . Do 'Do Senecas and Shawnees. Do Shawnees Do Shoshonea a n d B a n nacks: Shoshones P e r m a n e n t p r o v i s i o n for f u r n i s h i n g s a l t P e r m a n e n t p r o v i s i o n for p a y m e n t of m o n e y i n lieu of t o b a c c o , iron, a n d s t e e l . ^ F o r i n t e r e s t oh $230,064.20, a t 5 p e r c e n t F o r education, smith, farmer, and smith-shop d u r i n g t h e p l e a s u r e of t h e P r e s i d e n t . Permanent annuity Vol. 7, p. M , § 3 } voL 7, p . 318, § 2 ; voL 7, p . 321, S 2. VoL 7, p . 320, § 2 . VoL 7, p . 318,1 2; v o L 9 , p . 855, §10 V o L 9 , p . 855, § 7 . V6L7,p.425,§3. 1, COS-, m 20,179. go 156. 54 107. 34 3,120.80 2,146.80 11,503.21 230, 064.20 10,000.00 40, 000. 00 7, 870. 00 200,000.00 800, 000. CO 157, 400. 00 $1, 500. 00 20, 000.00 VoL 7, p . 85, § 3 . . I n t e r e s t on $200,000, a t 5 p e r c e n t . . I n t e r e s t on $800,000, a t 5 p e r c e n t . I n t e r e s t on $157,400, a t 5 p e r c e n t . T r e a t y of O c t o b o r 21, 1837 . T r e a t y of O c t o b e r 21, 1842 . T r e a t y of O c t o b e r 21, 1837 . VoL'7,p.541,§2. V o L 7 , p. 5 9 6 , § 2 . V o L 7 , p.543, § 2 . F o r s u p p o r t of s c h o o l . I n t e r e s t on $500,000, e i g h t h a r t i c l e of t r e a t y of A u g u s t 7,<1856. .Interest on $70,009, a t 5 p e r c e n t Permanent annuity T r e a t y of M a r c h 6, 1861 . $25,000 a n n u a l a n n u i t y . . . Vol.12, p . 1172, § 5 | Vol. 11, p . 702, § 8 . S u p p o r t of schools, e t c . . . S e p t e m b e r 9 a n d 17,1817 . VoL 14, p . 757, § 3 . VoL 7, p . 161, § 4 ; vol. 7. p . 179, § 4. Vol. 7, p . 349, § 4 . VoL 4 p . 442 Vol, 9, p . 3.5, § 2 . Voi. 9, p. 35, § 3 . . 3, 500. CO 1,000.00 70, 000. 00 20, 000. 00 1,660.00 6, 000.00 3, 750. CO 2, 152. 50 33, 200. 00 120,000.00 75,000. ro 43, 050. 00 Vol. 7, p . 179, § 4 . 1, OCO. 00 20, OCO. 00 3, 000. 00 2, 000. 00 60, OCO. CO 40, 000. 00 F o r t h e p u r c h a s e of c l o t h i n g for men, v/omen, a n d c h i l d r e n , t h i r t y insLallments. F o r p a y of p h y s i c i a n s , c a r p e n t e r , t e a c h e r , engineer, farmer, a n d b l a c k s m i t h . Do.... B l a c k s m i t h , a n d for iron a n d s t e e l for s h o p s . . F o r tJie p u r c h a s e of c l o t h i n g for m e n , w o m e n , Bannacks. and children, t h i r t y i n s t a l k n e n t s . Do. P a y of p h y s i c i a n , c a r p e n t e r , miller, t e a c h e r , engineer, farmer, a n d b l a c k s m i t h . S i x N a t i b n s of N . Y , P e r m a n e n t a n n u i t i e s in c l o t h i n g , e t c . . i S i o u x of different P u r c h a s e of c l o t h i n g for m e n , w o m e n , a n d tribes, including chUdren. * S a n t e e Sioux of Nebraska. Do B l a c k s m i t h , a n d for i r o n a n d s t e e l Do..... F o r s u c h a r t i c l e s a s m a y b e c o n s i d e r e d necess a r y by t h e S e c r e t a r y of t h e I n t e r i o r for p e r sons roaming. Do. Vol. 7, p . 352. § 4 . T r e a t y of J u l y 20,1831 A u g u s t s , 1795; S e p t e m b e r 2 9 , 1 8 1 7 V o l . 7, p. 51, § 4 . . A u g u s t 3,1795; M a y l O , 1854 , VoL 10, p. 1056, § 3 | Eleven installments due, m a t e d a t $10,000 e a c h . Estimated do : Eleven installments due, m a t e d a t $5,000 each. Estimated <.... 500, 000.00 I—l S m i t h a n d s m i t h - s h o p a n d miUer, p e r m a n e n t . F e b r u a r y 2 8 , 1 8 2 1 , . . . F e b r u a r y 19, 1841 Permanent annuities * A c t o f J u n o 27, 1846. I n t e l e s t o n $75,000, a t 5 p e r c e n t do I n t e r e s t on $43,050, t r a n s f e r r e d from t h e On- , tario Bank to tbe United States Treasury. Permanent annuity , T r e a t y of S e p t e m b e r 17, 1818 S u p p o r t of s m i t h a n d s m i t h - s h o p s . P e r m a n e n t a n n u i t y for e d u c a t i o n . I n t e r e s t on $40,000, a t 5 p e r c e n t . . . 200. 00 esti- esti- T r e a t y N o v e m b e r 11,1794 E l e v e n i n s t a l l m e n t s , of $120,000 each, d u e ; e s t i m a t e d . *-i ^ $110,000.00 VoL15,p.676,§10| 5, 000. 00 VoL15,D. 676, § 3 . VoL 15, p , 676 § 9 . 1,000.00 Vol. 15,p. 676,§10| 5, 000. CO E s t i m a t e d ., I do . . . E l e v e n i n s t a U m e n t s , of $200,000 . . . d o . . . each, d u e ; e s t i m a t e d . H O 1, 060. 00 Vol. 15, p . 676. § 9 . Vol. 7, p . 64, § 6 Vol. 15. p. 638, § 10 ZP zn 55, 000. 60 4,500.00 1. 430, 000. 00 O• 2,2G0, 000. 00 • X X < S i o u x of dift'erent tribes, including S a n t e e S i o u x of Nebraska. Do. Tabequache band of U t e s . Tabequache, Muache. Capote, Weemiuuche, Yampa, Grand River, a n d U i n t a h b a n d s of Utes. Do Do.. ' Do Winncbagoes Do Yankton Sioux. t r i b e of Total P h y s i c i a n , five t e a c h e r s , c a r p e n t e r , e n g i n e e r , farmer, a n d b l a c k s m i t h . •2 • Is « "^ .rt'fl n fl fl "s-s 4 3 03 fl ft 1= Amount held in trust by the United States on which 5 per cent, is annually paid, and amounts which, invested at 5 per cent., produce permanent annuities. D e s c r i p t i o n of a n n u i t i e s , etc. ETC.—Continued. Aggregate of future appropri-, ations that will be required during a limited number of years to pay liraited annuities incidentally necessary to effect the payment. N a m e s of t r e a t i e s . Reference to N u m b e r of i n s t a l l m e n t s y e t u n a p laws. Statutes a t propriated, explanations, etc. Large. Annual amount necessary to meet stipulations, indefinite as to time, now allowed, but liable to be discontinued. T A B L E T . — S T A T E M E N T SHOWING T H E P R E S E N T L I A B I L I T I E S OF T H E U N I T E D STATES TO INDIAN T R I B E S , < PO o po H O w Vol. 15, p . 638, § 13 $10,400.00 miller, o X X zn P u r c h a s e of r a t i o n s , e t c . , a s p e r a r t i c l e 5, a g r e e m e n t of S e p t e m b e r 26, 1876, P a y of b l a c k s m i t h do VoL 19, p . 256, § 5 . 1,000,000.00 do VoL 13, p . 675, §10 720.00 o po F o r i r o n a n d s t e e l a n d n e c e s s a r y tools for blacksmith shop. do Vol. 15. p. 627, §9 220.00 > PO Kj O T w o carpenters, t w o millers, t w o farmers, one blacksmith, a n d t w o teachers. T h i r t y i n s t a l l m e n t s , of $30,000 e a c h , t o b e expended under the direction ofthe Secretary of t h e I n t e r i o r , for c l o t h i n g , b l a n k e t s , e t c . Annual amount to be expended under the d i r e c t i o n o f t h e S e c r e t a r y of t h e I n t e r i o r , i n s u p p l y i n g said I n d i a n s w i t h beef, m u t t o n , w h e a t , flour, b e a n s , e t c . I n t e r e s t o n $804,909.17, a t 5 p e r c e n t , p e r annum. I n t e r e s t o n $78,340.41, a t 5 p e r cent, pp.r ann u m , t o b e e x p e n d e d u n d e r t h e d i r e c t i o n of t h e Secretary ofthe Interior. T w e n t y installrae.nts, of $15,000 e a c b , f o u r t h s e r i e s , t o b e p a i d t o t h e m o r e x p e n d e d for t h e i r benefit. ' do Ten instaUments,each$30,000,due Vol.15, p . 622, §15 7, SCO. 00 • Vol. 15, p . 622, §12 N o v e m b e r 1, 1837, a n d S e n a t e a m e n d m e n t , J u l y 17, 1862. J u l y 15 1870 VoL 7, p . 546, §4; voL 12, p . 628, §4. Vol. 16, p. 355, §1 T w e n t y i n s t a l l m e n t s , of $15,000 each, d u e . Vol, 11, p. 744, §4 w $300,000.00 Vol. 15, p . 622, §11 30, 000. 00 PO $10,245.45 $804, 909.17 > zn 3, 917. 02 78, 340. 41 a po 300, 000. 00 . 1,145,190.00 5,826,499. 96 .347,75L98 5, 994, 629. 99 T A B L E _ ^ U . ^ S T A T E M E N T OF I^EDEEMED U N I T E D STATES S E C U R I T I E S D E C E I V E D B Y T H E O F F I C E O F T H E SECRETAIIY OF T H E T R E A S U R Y F I N A L COUNT, E X A M I N A T I O N , AND D E S T R U C T I O N D U R I N G T H E F I S C A L Y E A R E N D E D J U N E 30, 1888. i'oR Denomination. . HH Totals. T i t l e of s e c u r i t y . I's. 2's. 5's. 50'g lO's. $124,139 $3,612.35 $4, 971. 60 $107, 3.56 United States notes,'new issue $53,126. 25 19, 976.25 24,782.40 U n i t e d S t a t e s notes, s e r i e s 1869 229, 540. 75 1,176, 495 1, 342, 004 18,560.60 15, 74L60 U n i t e d S t a t e s n o t e s , s e r i e s 1874 38,189.20 51,454 60 U n i t e d S t a t e s notes, s e r i e s 1875 686, 242 1, 027, 528 4.54 521. CO 34, 821. 70 29, 270. 00 U n i t e d S t a t e s notes, s e r i e s 1878 474 831.00 1, 022,188 2, 055, 272 U n i t e d S t a t e s n o t e s , s e r i e s 1880 , 501, 983. 90 3, 905,415. 80 20, 097, 959. 00 8,114,-789 3, 366, 494 140 92. 50 90 M Demand notes 420 X One-year n o t e s of 1863 1. 230 V T w o - y e a r n o t e s of 1863 T w o - y e a r c o u p o n n o t e s of 1863 90 C o m p o u n d - i n t e r e s t n o t e s of 1863| 630 C o m p o u n d - i n t e r e s t n o t e s of 1864 111, 744 62, 326 S i l v e r certificates, s e r i e s 1878 . . 9, 639, 359 6. 757,112 S i l v e r certificates, s e r i e s 18H0 . . 732, 758.' 818, 381. 50 563, 675 S i l v e r certificates, s e r i e s 18'86 . . 1, 419, 892.10 G o l d certificates. N e w Y o r k 1,735,562 s e r i e s 1882 Gold certificates, W a s h i n g t o n 334, 480 s e r i e s 1882 R e f u n d i n g certificates 36, 850 N a t i o n a l 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 4, 800. 00 3, 652. 00 4, 834, 015.00 7, 343, 750 5,146, 940 National currency redeemed a n d r e t i r e d '. 2, 014. 00 1, 626. CO-I18,415,755.00 17, 348, 460 11, 055, 860 ^ . js^ " Total..-. $17,190 172, 700 715, 275 100, 775 742, 830 1, 089, 665 1,COO'S. lOO's. 500's. $23,710 404,500 $11,000 5,500 133, 500 179, 000 656, 500 151, 000 687, 000 7,414,000 35, 000 164 000 644, 260 1, 274, 830 1, 092, 000 150 250 50 300 400 1,050 109, 075 695, 426 200 98, 810 561, 300 500 24, 500 164, 000 2, 336, 655 1, 757, 000 , 945, 000 143, 550 325.300 469, 000 5,000's. $354,605. 20 3,511,498.40 88H, 077. 20 3,181,969.80 6, 987, 542. 70 48,733, 306. 70 322.50 1,100. CO 650. CO 50.00 90. CO 3, 360. 00 431,475.00 17,981,196.00 3, 534, 707. 00 $9, 600 136, 000 $10, COO 4. 508, 000 |9, 010, COO $36, 680, 000 59, 972, 217. 00 1, 357, 000 310, 000 4, 609, 330. 00 1, 670, 000 36,. 850. 00 1, 628,850 2, C03, 800 53, 000 12,000 2, 824, 350 5, 372, 500 15, 000 5,000 21, OCO, 807. 00 55,040,565.00 5,043,850.10 4,769,672.40 ]45, 378, 222. 00 46,092,530 |33, 058, 676 10,577,840 13,558,930 5,807,500 14,327,500 9,330,000 38, 350, OOOj PO c Zfl o a PO zn PO Denomination. Redeemed United States fractional currency. 5c. Uuited Uuited United United United United United States States States States States States States fractional fractional fractional fractional fractional fractional fractional currency, currency, currency, currency, currency, currency, currency, first i s s u e second i s s u e third issue fourth issue f o u r t h i s s u e , second s e r i e s . fourth issue, third series .. fifth i s s u e Total..Redeemed United States internal-revenue stamps A g g r e g a t e of r e d e e m e d U n i t e d S t a t e s s e c u r i t i e s r e c e i v e d for d e s t r u c t i o n . $7. 97 .$22. 59 4 4 06 2L59 7.97 88. 24 25c. 10c. $47. 04 68. 23 553. 69 2, 080. 56 4 271. 63 7, 021. 05 $0.21 547. 41 $73. 29 64. 92 718.44 3, 666. 83 4, 537. 03 50c. $121.26 77. 50 1, 009. 10 273. 05 2,200.20 2, 0.53. 25 1, 960. 80 264.18 254 71 2,310.90 6, 567. 85 2, 200. 20 2, 0.53. 25 10, 769. 46 7, 695.16 14, 897. 60 226, 334, 037. 05 o o X X tl X T A B L E Y . — 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 R — S I L K - T H R E A D E D F I B E R — I S S U E D F R O M T H E O F F I C E O F T H E SECRETARY O F T H E T R E A S U R Y TO ' T H E B U R E A U O F E N G R A V I N G AND F E I N T I N G , AND D E L I V E R I E S AND BALANCES OF T H E SAME, F O R NATIONAL BANK C U R R E N C Y , S E M E S 1882, F O R T H E F I S C A L Y E A R 1888. Combinations. Transactions. B A L A N C E S . — B a l a n c e s in 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, 1887. Total balances .. . 5, 5, 5, 5 10,10,10, 20 50,100 ' BLANK P A P F R D e l i v p r e d t o B u r e a u of En^'raviu"' a n d P r i n t i n g from t b e Oihce of t h e S e c r e t a r y of t h e T r e a s ury, for'printing circulating notes during thefiscal vear 1888.. 5, 5, 5, 5 10, 10,10, 20 50,100 Denomination. 5's. lO's. 20's. 157, 262 95, 550 17, 957 3,145, 240 270, 769 3,14.5, 240 2, 866, 500 1,911,000 809, 000 475, 000 28, 770 16,180, 000 -14, 250, 000 9, 500, 000 1, 312, 770 270, 769 16,180, 000 3,14.5,240 14, 250,000 2, 866, 500 1, 583, 539 19, 325, 240 2, 866, 500 60's. PO Amoun't. lOO's. 1,911,000 1, 79.5, 700 ""'3,'591.,'400 3,145 240 4, 777, 500 5 387 100 1, 795, 700 3,591,400 13,309,840 2, 877, 000 6, 754 000 16 180.000 23, 750; 000 8, 631, 000 9,'.500, 000 1,911,000 2, 877, 000 1, 795, 700 5, 7.54, 000 3,591,400 48,561,000 13,309,840 17,116,500 11,411,000 4, 672, 700 9, 345, 400 61, 870, 840 11,507,520 7, 671, 680 2, 380, 250 4, 760, '566 14, 299, 600 19,179,2(10 7 140 750 2, 380, 250 4, 760, 500 40, 619. 5.50 P E R F E C T N O T E S . — D e l i v e r r d b y B u r e a u of E n g r a v i n g and P r i n t i n g t o t h e Oflice 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 fiscaf y e a r 1888. 5, 5, 5, 5 10,10,10, 20 50, 100 I M P R R F K 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 Engr.avinsr a n d P r i n t i n g t o t h e S e c i e t a r y of t h e T r e a s u r y fpr des t r u c t i o n d u r i n g t h e fiscal y e a r 1888.. 5, 5, 5, 5 10,10,10,20 50,100 T o t a l d e l i v e r e d (imperfect) 5, 5, 5. 5 10,10,10,20 50,100 Total balances 714 980 383, 684 23, 802^ 14, 299, 600. 1,122, 366^ 14, 299, 600 42,113 27, 372 2,119^' 842, 260 71,6041 842, 260 7,671,680 11,507,520 ' 547, 44C 821,160 • 821, 160 547, 440 211,950 211,9.50 423, 423, 900 900 2,846,710 209,169 159, 594 20, 805 4,183,380 2, 080, 500 4161,000 4, 18.3,380 7, 979, 700 6, 241,500 389, 568 4183,380 4 787, 820 - 3,191,880' 2, 080, 500 4,161, 000 18, 404, 580 1,122, 366^ 71, 604A 389, 568 14, 299, 600 842, 260 4,183,380. 11, 507, 520 . 821,160 4 787, 820 . 7, 671, 680 .547,440 3, 191, 880 2, 380, 250 211,950 2, 080, 500 4, 760, .500 423, 900 4,161, 000 40, 619, 5r)0 2,846.710 18, 404, 580 1,583,539 19, 325, 240 17,_116, 500 11,411,000 4, 672, 700 9, 345, 400 61, 870, 840 3,191,880 4 787, 820 • T o t a l a c c o u n t e d for a -POPO H42, 260 1,368, 600 635, 850 RECAPITULATION. D e l i v e r i e s to C o m p t r o l l e r b r o u g h t down D e l i v e r i e s t o St'Ctetary'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 1888 w hj O PO H O u. B a l a n c e s 1887 b r o u g h t d o w n B A L A N C E S . — B a l a n c e s in 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 o 30, 1888. N u m b e r of sheets. Q n X X Ul U. S. BONDS, E T C . , R E C E I V E D AND ISSUED.' CXXXI TABLE W . — S T A T E M E N T O F U N I T E D STATES BONDS AND OTHER OBLIGATIONS R E C E I V E D AND ISSUED BY THE OFFICE OF THE SECRETARY OF THE TREASURY FROM N O V E M B E R 1, 1837, TO OCTOBER 31, 1888, I N C L U S I V E . Title of loan. Oregon war debt, act of Mar. 2,1861 Loan of J u l y and Aug., 1861, acts of July 17 and Aug. 5, 1861 Five-twenty bonds of 1862, act of Feb. 25,1862.. Bonds issued to Pacific railroads, acts of Julv 1,1862, and July 2,1864 . : .\. L o a n of 1863 (1881's), a c t of Mar. 3,1863 . .. Gold certificates (old issue), a c t o f M a r . 3,1863... T e n - f o r t y b o n d s ofa864, a c t of M a r . 3,1864 S e v e n - t h i r t y n o t e s of 1861-'64, a n d '65, a c t s of J u l y 17, 1861, J u n e 30,1864, a n d M a r . 3, 1865.. Consols of 1865, a c t of M a r . 3,1865 1 Consols of 1867, a c t of M a r . 3,1865 Consols of 1868, a c t of M a r . 3,1865 . . . . F u n d e d loan of 1881, 5 p e r c e n t . , a c t s of J u l y 14, 1870, a n d J a n . 20,1871 F u n d e d loan of 1891,4^ p e r cent., a c t s of J u l y 14,1870, a n d J a n . 20,1871 F u n d e d loan of 1907, 4 p e r cent., a c t s of J u l y 14, 1870, a n d J a n . 20 1871 C e r t i f i c a t e s of deposit, a c t of J n n e 8,1872 S i p e r cent, b o n d s , a c t s of J u l y 17 a n d A u g . 5, 1861 ' .... Sh p e r cerit. b o n d s , a c t of M a r . 3,1863 3^ p e r cent, bonds, a c t s of J u l y 14,1870, a n d J a n . 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 R e c e i v e d for R e c e i v e d for exchange and transfer. redemption. Total. Issued. $1,150 $1,150^ 26, 450 10, 000 26 450> 10, 000 $6,128, 000 $6,128, 000 1,500 20, 620 6, 200 . 12, 256, 000* 1 500 20i 620 r• 5,20O 8' 400 16, 500" 93, 400 1,050 8,400 16,500 93,400 1, 050 76, 900 76, 900 30, 939, 200 70, 817, 700 107, 884, 900 33,. 242, 600 50-, 412, 650 27, 815, COO 30, 939, 200 . 95,121,000 70.818, 700 32, 400, 000 192, 049, 050 60, 215,000 3, 0.50 4,100 3, 050 4,100 6,900 836, 900 5,900 835, 900 112, 580, 370 140, 285, 900 360, 751,170. APPENDIX TO THE REPOET ON THE FINANCES. H. Ex. 2 1 APPENDIX. EEPORTS OF HEADS OF BUREAUS AND SUPERVISING SPECIAL AGENT. (No. 1.) EEPOET OF THE TEEASUEEE. T R E A S U R Y OF T H E U N I T E D S T A T E S , Washington, N'ovembe'^1^ 1S8S, SIR : I have the honor to submit the annual report on the operations a-nd condition of the Treasury. R E C E I P T S AND E X P E N D I T U R E S . The net revenues for the fiscal year ending June 30, 1888, were 1379,266,074.76, and the pet expenditures $26'7,924,801.13. As compared with the preceding year, the revenues were $7,862,797.10 greater and the expenditures $7,378.84 less. The following statement shows the amounts for the two years and the increase and decrease: • . • S l e v e n u e frora— Customs Internal revenue Sale of p u b l i c l a n d s Miscellaneous sources Total ITet i n c r e a s e E x p e n d i t u r e s on a c c o u n t of— Civil a n d m i s c e l l a n e o u s : Customs, light-houses, public buildings, etc SCnternal r e v e n u e I n t e r i o r civil (lands, p a t e n t s , etc.) T r e a s u r y p r o p e r (legislative, e x e c u t i v e , and o t b e r c i v i l ) . TDiplomatic (foreign r e l a t i o n s ) J u d i c i a r y a n d q u a r t e r l y salaries -". W a r Department Navy Department ( Interior Department (Indians and pensions) I n t e r e s t on p u b l i c d e b t P r e m i u m on p u b l i c d e b t . Total N e t decrease S u r p l u s a v a i l a b l e for r e d u c t i o n of debt 1887. 1888. Increase. $217, 286, 893.13 118, 823, 39L.22 9,254, 286. 42 20, 038, 706. 89 $219,091,173.63 124, 296, 871. 98 11,202,017.23 24, 676, OIL 92 $1,804, 280. 50 5, 473, 480. 76 1,947,730.81 371,403, 277. 66 379, 266, 074.76 9, 225, 492. 07 7, 862, 797.10 23, 795. 933.12 4, 070,126. 59 20, 359, 455.15 3,809, 557. 94 Decrease. $1,362, 694.97 3, 436, 477. 97 260, 568. 65 7,821,225.31 7,859,468.41 38,342,337.73 7,104,490. 47 34, 575,466. 33 1,593,46L40 4,130,712.37 38, 661, 025. 86 15,141,126.80 4,754,851.57 38, 522,436.11 16, 926, 437. 65 81,223,624.48 47, 741, 577. 25 86, 537, 816. 64 44,715,007.47 8, 270,842.46 8, 270, 842.46 267, 924, 801.13 16,032,727,77 267, 932,179. 97 38, 243.10 3 766 87L40 5, 511, 029. 07 624,139. 20 38,589.74 1, 785, 310.85 5, 314,192.16 3, 026, 569. 78 16, 040,106.61 7 378.84 . 103, 471, 097. 69 111, 341, 273. 63 1, 362, 694.97 7, 870,175.94 4 REPORT ON T H E FINANCES. The revenues of the Post-Office Department w,ere $52,229,384.97, of which $22,877,485.05 was, deposited ia the Treasury and $29,351,899.92: was disbursed by postmasters. The total expenditures were $55,894,298.06, or $3,664,913.09 more than the receipts. The advances from the deficiency appropriation amounted to $3,160,820.47. T H E STATE O F T H E TREASURY. Thenet changes that occurred during the year in the state of thC' Treasury were an increase of $37,526,468.<s6°in the total assets and adecrease of $23,053,394.77 in the totaliiabilities, making an increase of $60,579,863.63 in the aggregate balance. There was an increase in every. clafeS of assets excepting silver, and minor coin, and a decrease in^^every class of liabilities excepting checks and drafts outstanding and balances remaining to the credit of disbursing officers. The total assets, including certificates of deposit in the Treasury cash, increased $ 142,425,251.29^, from $622,304,284.22 to $764,729,535.5K A summary of the assets and liabilities ou June 30, 1887, and June 30, 1888, and of the changes between the two dates, is given in the following statement: es J u n e 30, 1887. J u n e 30, 1888. $192, 598, 626. 85 85,381,026.76 $204, 449,.750. 75 110, 255, 07L71 277,979,653.61 91,193, 507. 00 314,704,822.46, 121, 0'94, 650. 00 186, 786,146. 61 193,610,172.46 Standard silver dollars Silver b u l l i o n . . . . . 211, 491,.527. 00 11,012,067.97 244,181,394.00 10,457,669.35 Total ; Less certificates actually outstanding 222, 503, ,594. 97 142, .327, 950. 00 254, 639, 063. 35 200, 759, 657. 00 Silver balance 80,175, 644. 97 53, 879, 406. 35 TJnited Sta tes notes Less certificates actually outstanding 29, 625. 408 29 8, 830, 000. 00 53 345 975. 89 14, 665, COO. 00 .'20,795,408. .29' 38, 680, 975. 89 17, 885, 567. 60 2,415, 57K 41 23, 316, 877. 91 7.055,541.08 58; 712, 5IL 11 4, 639, 969. 67 35, 395, 633. 20 313, 489, 649.19 351, 938, 606. 89 38, 448, 957. 70 Increase, Decrease. ASSETS. Gold coin Gold bullion . . ; Total Less certificates actually outstanding Golct balance , TJnited States note balance National-bank notes, including notes in process of redemption Deposits in national-bank depositaries Total net assets ^ • $6, 824, 025. 85 $26, 296, 238.62:' ' LIABILITIES. iPublic d e b t a n d i n t e r e s t R e s e r v e for r e d e m p t i o n of U n i t e d States notes ^ D i s b u r s i n g ofiicers' b a l a n c e s , e t c Outstanding drafts and checks F i v e p e r cpnt. fund for r e d e m p t i o n of n a t i o n a l - b a n k n o t e s F u n d f o r r e d e m p t i o n of n o t e s of b a n k s "failed," " i n liquidation," and " reducing circulation " Post-Office D e p a r t m e n t a c c o u n t 32,813,318.62 14, 087, 779. 08 100. 000. 000. 00 23, 6^8,,693. 18 2,177, 221.45 100, 000, 000. 00 26, 645, 827. 34 2, 576, 562. 34 8,113, 335. 33 6, 976, 727. 62 1,136, 607. 71, 97,992,918.10 6, 559, 255. 37 91, 952, 843. 65 6, 051, 607. 25 6,040,074.45507, 648.12r 271, 344, 742. 05 248, 291, 347. 28 , Available balance Assets not available: M i n o r coin F r a c t i o n a l s i l v e r coin 42,144, 907.14 103, 647, 259. 61 115, 472. 94 26, 963, 998. 98 112, 920. 73 26, 044, 062. 35 Total balance 69,224,379.06 129, 804, 242. 69 T o t a l liabilities 18, 725, 539. 54 2, 957,134.16 399, 340. 89 23, 053, 394. 77" 61, 502, 352. 47 2, 552. 21: 919,936.63; 60, 579, 863. 63 TREASURER.. 5 In the appendix will be found the detailed statements for the same •dates, together with statements of the assets and liabilities of each office -of the Treasury, and the composition of tbe bullion fund on June 30,1888, summed up and reconciled with the accounts of the Register of,tbe Treasury. These statements show tlie actual condition existing at the close of business in each office on the day for which they are made up^ .and therefore differ from the monthly statements heretofore published, and also from the statistical tables in the appendix, which are compiled for the last day of each month from the latest reports then in the Treasurer's hands. The difference is therefore one of date aud not of -amount. Similar differences haye been minutely explained in former reports. UNAVAILABLE FUNDS. There occurred during the fiscal year a deficit of $10,197.65 in the -;sub-treas ury in IsTew York. The amount of the deficit in the sub-treasury in ;New Orleans was reduced by $681.75. The net change in the total sum described as unavailable was therefore ah increaseof $9,515.90. In the appendix will be found a statement of these funds, classified as they appear in the statement of assets and liabilities of the several offices. The amount on deposit with the States uuder the act of June 23,1836, is not carried on the books of the Treasurer as an asset, though it stands charged against hiin ou the books of the Eegister of the Treasury. The amount of the dehcit in the branch mint at San Fran'Cisco is carried as an asset by the mint, but those in the other mint offices are not. Of the total of $1,429,450.34 unavailable from loss, ^1,396,879.50 is excluded from the cash as reported in the public debt •stateuient, while $32,590.84, composed of the deficit of $20,959.81 in the sub-treasury at JSTew Orleans and the defalcation of $11,611.03 in the assay-office at Boise City, is included. There is no fund that can be used for the detection of crimes resulting in the loss of any of the moneys or securities in the Treasury, or for bringing the guilty persons to trial and punishment. If such work should become necessary it would have to be undertaken at the Treasurer's private expense. It is respectfully urged that a sufficient fund be provided'for this purpose. There should also be a fund that would •enable the Treasurer personally to visit the sub-treasuries whenever, during the regular examinations or at other times, it would he to the advantage of the public service. T H E P U B L I C DEBT. In the appendix will be found a recapitulation of the public debt statement for the end of each fiscal year since elune 30, 1880. There is also given a statement of the changes that occurred during the last fiscal year in the principal of the interest-bearing debt and debt on which interest has ceased, showing a net decrease of $74,788,920. Four per cent, bonds of the face value of $48,150 were issued in ex<3hange for $37,200 in refunding certificates and the interest on them. The aniount of 5 20 bonds of 1862 outstanding, as shown by the debt statement, was increased by $509, under the provisions of the a^ct of August 5, 1882, which enabled the accounting officers to make the necessary entries on the books of the Department to correct an error caused by the payment of a bond, in 1877, on fraudulent evidence that if had been destroyed. The redemptions of this class of bonds were. f 11,800, but the decrease shown by the debt statement was only $11,300, b REPORT ON T H E FINANCES. " Under the Department circular dated August 3, 1887,. interest amounting to $2,136,839.48 on 4 and 4 J per cent, bonds was prepaid with a rebate of 2 per cent, per annum. The amount of the rebate was$9,259.22. The following statement shows the particulars of this transaction: Interest. Title and class. Principal. Eebate. Due. P o u r p e r c e n t , funded loan of 1907 : Registered .Coupon. ' Registered Coupon : $69, 554, 800 11,165, 850 71, 003, 800 1, 374, 850 Oct. Oct. Jan. Jan. 1,1887 1,1887 1, 1888 1,1888 Total. F o u r - a n d - a - b a l f p e r cent, f u n d e d loan of 1891: Eegistered 19, 591, 650 Coupon 224,900 Registered ' . . . 22, 055, 400 Coupon ^ ,... 407, 800 Sept. Sept. Dec. Dec. 1,1887 1,1887 1,1887 1,1887 Total. B o n d s i s s u e d t o Pacific E a i l r o a d s : Eegistered 4, 340, 000 J a n . 1,18S8 Aggregate . N e t amountpaid. Amount. $695, 111, 710, ' 13, 548. 00 51,578.60 658. 50 21.30 038. 00 5,113.06 748. 50 88.91 1, 530, 993. 00 », 801. 87 220, 405. .59 2, 529. 96 248,122. 88 4, 588.05 177. 20 1.89 1, 40.5. 28 22.38 475, 646. 48 6.75 $693,969. 40> 111, 637. 20704, 924. 94 13, 659. 591, 524,191.13 220, 2, 246, 4, 228. 39^ 528.07 717. 60* 565. 67 474, 039.73: 130, 200. 00 850.60 129, 349.40- 2,136, 839. 48 9, 259. 22 2,.127, 580. 26^ Under the circulars of August 3 and September 22, 1887, 4 per cent, bonds of the principal of $5,389,250 and 4J per cent, bonds of the principal of $19,455,400 were purchased for the sinking fund. Under the circular of April 17, 1888, $18,282,100 of 4 per cents and $8,337,550 of 4J per cents were jjurchased out of surplus revenues. The total purchases weie $51,464,300. The following is a statement of the principal and accrued.interest extinguished by these purchases and the net amount of premium and average price paid: D a t e of circular. Loan. F u n d e d loan of 1907 Eegistered. Total Interest principal. accrued. Net premium.. Average price; Sept. Apr. 22,1887 $988, 400 $4, 400,850 $5, 389, 250 $43, 817. 79 $1, 296, 049. 71 124.050' 17,1888 4, 066, 200 14, 215,900 18, 282,100 94, 060. 09 4, 839, 578. 71 126. 472 Aug. Sept. Apr. -3,1887 •2, 528, 000 9, 037, 300 11, .565, 300 66, 099. 65 22,1887 1, 354, 650 6, 535,450 7, 890,100 28, 998. 78 17,1888 1,591,650 6,745, 900 8, 337, 550 59, 403. 92 5, 054, 600 18, 616, 750 23, 671, 350 137, 877. 88 6,135, 628 42 125. 920> Total F u n d e d loan of 1891 Coupon. Total A.ii2!re£rate 922,195. 43 107. 974: 633, ^70. 74 108. 032 579, 247. 87 106. 947 5,474, 300 22,318,650 27, 792, 950 154, 502. 35 2,135,214. 04 107. 683^ 10, 528, 900 40, 935, 400 51, 464, 300 292, 380.23 8,270,842.46 COIN AND P A P E R CIRCULATION. The gold and silver coin and bullion in the country and all kinds of notes and certificates amounted, on June 30, 1887, to $1,925,259,882.^37/ and on June 30, 1888, to $2,093,562,072.17. The increase of the stock of gold and silver was $84,877,789.35, the greater part of which was in gold. The increase of the paper currency was $83,424,400.45, resulting from an increase of $110,319,955 in certificates and a decrease of TREASURER. $26,895,554.55 in notes and fractional currency. The following statement, taken from a table in the report of the Secretary of the Treasury, compiled in this office, shows the amounts and total of gold and silver and also of the several kinds of paper money on the two dates: Kind. Gold coin and bullion Silver dollars and bullion Practional silver coin • J u n e S O , 1887. i Total coin and bullion $654,520,335.00 277, 445, 767. 00 75, 547, 799. 00 $705, 818, 855.00 310,166,459.35 76,406,376.00 1, 007, 513, 901. 00 .1, 092, 391, 690.35 98, 697. 00 57,130. 00 65, 605. 00 192, B80. 00 322, 898. 37 217, 788. 00 681, 016. CO 080, 000. 00 486, 817. 00 543,150. 00 82,372.50 56, 807. 50 63, 835.00 189, 530. OG 15, 298, 677. 82 252, 368, 321. 00 346, 681, 016. 00 14,915,000.00 142, 023,150. 00 229,491,772.00 State-bank notes Demand notes One and two year notes Compound-interest notes Fractional cui rency National-bank notes United States notes Certificates of deposit, act of June 8, 1872 Gold certificates Silver certificates 15, 279, 346, 9, 121, 145, ' Total paper circulation Aggregate J u n e 30,1888. 917,745, 98L 37 1, 001,170, 381. 82 1, 925, 259, 882. 37 2, 093, 562, 072.17 The gold and silver are given as estimated by the Director-of the Mint and the bank notes as reported by the banks to the Comptroller of the Ourrenc3\ The amounts of the Grovernment issues of notes and certificates are taken from the public-debt statement. In the appendix will be found, in addition to the usual tables, statements showing the total issues and redemptions of United States notes and gold and silver certificates, and also the ainounts and percentage, of the denominations of each outstanding for a series of years. UNITED STATES NOTES. The redemptions of United States notes at the Treasury during the year amounted to $63,652,000, against $74,068,000 the year beforCo The redemptions at l^ew York in gold were $692,596, making $26,736,454 in all since the resumption of specie payments. There have been no redemptions in gold at San Francisco under authority of the act of March 3, 1887. The amounts of each denomination outstanding at the close of each of the last four fiscal years are shown in the following table: Denomination. One doll-^r Two dollars Five dollars Ten dollars Twenty dollars Pifty dollars One hundred dollars Five hundred flollars One thousand dollars Five thousand/dollars Ten thousand dollars Total . Less unknown denominations destroyed in sub-treasury in Chicago fire Outstanding 1885. 1886. $24. 952,061. 80 $17, 603, 922. 40 25, 295,069. 20 38,204, 369. 60 75, 997,805. 00 85, 629, 219.00 64, 539,386. 00 66, 658, 661. 00 65,12t),509,00 55, 078, 379.00 23, 459,895. 00 23,291, 265. 00 32, 896,790. 00 31, 359, 700. 00 16, 557,000.00 12,424, 000. 00 28, 716,500.00 37, 36L 500. 00 100, 000. 00 60, 000. 00 10, 000.00 4o: 000.00 347,681, 016. 00 347, 681, 016.00 1,000,000.00 1,000,000.00 346, 681, 016. 00 346,681,016.00 1887. $8, 797, 376. 50 9, 008, 572. CO 95, 064,850. 50 80, 371, 47L 00 63, 929, 361.00 21,908,985.00 29, 643, 400. 00 7, 704, 500. GO 31,197, 500. 00 45, OCO. 00 10, OCO. 00 347, 681, 016. 00 1,000,000.00 346, 681, 016. CO $5,180, 232. 50 4, 976, 936. 00 81, 054, 872. 50 86, 264, 40LOO 84, 813, 924. 00 21,870, 550. 00 31,104, 100.00 8, 068, 000. 00 24, 303, COO.00 35, 000. 00 10, 000. 00 347, 681, 016.00 1, 000, 000. 00 346, 681, 016. 00 8 REPORT ON T H E FINANCES. With the increase of the gold and silver certificates, the volume of which together is now larger than that of the United States notes, the importance of the latter in the circulation of the country has declined. The denominations below ten dollars are being displaced by silver certificates, and'those above one hundred dollars largely by gold certificates. . The question of the probable loss and destruction of paper currency lias received some attention, without any very definite result. In the appendix are given tables showing the course of the redemptions of the first issues of United States notes. It must be borne in mind that these notes have lost none of their qualities as money through age or any other cause than -wear. Many of them, of certain denominations, have doubtless performed the single function of lying in the reserves ofbanks, where they have had little handling, and where they are likely to remain until they are called in by the Government. Until this is done, or some other cause brings them to the Treasury, the loss from destruction must be more or less a matter of conjecture. The most careful estimate from the data at hand would place it at 1 per cent, or less, according to the denomination. This is supported, too, by the history of earlier paper issues of the Government. CERTIFICATES OF DEPOSIT, ACT OF J U N E 8, 1 8 7 2 . The certificates of deposit issued during the year for United States notes received from national banks amounted to $24,110,000. The redemptions were $18,465,000, leaving outstanding $14,665,000, which is a little below the average for the last nine years. The total amounts , issued, redeemed, and outstanding at the end of each fiscal year since the first issue are shown in the following table. The decrease of the use of these certificates since 1886 is due in great part to the change in the manner of redeeming them, the holders now receiving the same notes that wiere deposited, instead of new notes as formerly. Fiscal year. 1873 1874 1875 1876 1877 1878 1879 1880... Total issued. $57, 240, 000 137, 905, 000 219, 000, 000 301,400, 000 378, 285, 000 464, 965, 000 554, 730, 000 601, 785, 000 Total redeemed. Outstandi n g a t close of fiscal year. $25,430, 000 $31,810,000 78, 915, 000 58, 990, 000 159, 95.5, 000 59, 045, 000 268, 260, 000 33,140, 000 324, 305, 000 53, 980, 000 418, 720, 000 46, 245, 000 525. 400,000 29, 330, 000 588, 660; 000 13,125, 000 Total issued. Fiscal year. 1881 1882 1883 1884 1885. 1886 1887 1888 Total redeemed. $612, 850, 000 $601, 235, 629, 760, 000 616. 400, 649,790, 000 636, 610, 676, 660, 000 664, 430, 733, 215, 000 703, 930, 780, 865, 000 762, 755, 815, 765, 000 806, 745, 839, 875, 000 825, 210, 000 000 000 000 000 000 000 OCO Outstandi n g a t close of fiscal year. ' $11,615, 000 13, 360, 000 13,180, 000 12,230, 000 29,285, 000 18,110, 000 9, 020, 000 14, 665, 000 In the appendix will be found a tabulated statement of the United States notes and of these pertificates in the Treasury cash, the amount of the certificates in circulation, and the net amount of United States notes in the Treasury at the end of each month from March, 1878. GOLD CERTIFICATES. The volume of gold certificates outstanding increased in the year to $142,023,150, the highest point yet reached at the end of any year since the issue began. The excess of the issues over the redemptions for the year was $20,536,333. In the same tinie the ainount in the Treasury cash decreased from $30,293,310 to $20,928,500, so that TREASURER. \) the total increase of the circulation was $29,901,143. The greater part of the change was in the denominations of $1,000 and $5,000, which are much used in the transactions of the sub-treasury in 'New York with the custom house and the clearing-house. The amount outstanding o f t h e series of 18G3 was reduced to $2,333,580. The following statement shows the amounts of each denoifiination issued and redeemed during theyear, the total issued aud redeemed, and the amounts outstanding Juue 30, 1887, and Juue 30, 18S8 : Issued. 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 . . . Five thousand dollars... T e n t h o u s a n d dollars . . . Account Geneva award. Outstanding J u u e 30,1887. $10, 872, 062 8, 225, 355| 7, 957, 400 12, 031, OOOi 17, 376, OOOj 13,19.5,000 51, 830, OOO During fiscal year. 160, 500, 800, 700, 000, 000, 000, T o J u n e 30,1888, 000 000| 000 cool 000 000 000 Redeemed. Duiing fiscal' year. $21, 040, 000. 00i$2, 070, 062 17, 800, 000. 00 2, 480, 205 40,234,300.00 2,088,400 64, 844, 000. 00 4, 420, 000 161, 881, 000. 00 5, 875, 000 500,385,000.001 9,330,000 429, 330, 000. 00 38, 360, 000 33, 000, 580.46| T o J u n e 30,1888, 7, 26, 42. 136, 476; 385, 33, Outstanding J u n e 3d, 1888. 078, 000. 00 $12, 962, 000 554, 850. 00 10, 245,150 565,300.00, 13,669,000 533,000.00; 12,311,000 380,000.00 25,501,000 520, 000. 00| 23, 865, 000 860,000.00 43,470,000 000,580.46..: 121, 486,817 85,160, 000 1, 258, 514, 880.46 64, 623, 667 1,116,491,730.46142,023,150 Total . . The table below exhibits the amounts issued, redeemed, and outstanding for each fiscal year since the issue began, on Noveinber 13,1865: Issued during fiscal y e a r . Fiscal year. 1866 1867 ' 1868 : 1869 1870... 1871 1872 1873 1874 1875" 1876 1877 1878 1879 1880 1881 1882...: 1883 1884 1885 1886 1887 1888.. . . $98, 493, 660.00 109,121, 620. 00 77, 960, 400. 00 80, 663,160. 00 76,731,060.00 56, 577, 000. 00 63, 229, 500. 00 5.5, 570, 500. 00 81,117,780.46 70, 250,100. CO 90, 619,100. 00 58,141, 200. 00 50, 342, 400. 00 12, 317,400. 00 . 86,710,000.00 41, 470, COO. 00 63, 000, 000. 00 1, 040, 000. 00 "*85,'i60,"66o'6o" Total issued. Redeemed durn g fiscal y e a r . $98, 493, 660. 00 $87,545,800.00 , 207,615,280.00 101, 295, 900. 00 79, 05.5, 340. 00 285, 575, 680. 00 65, 255. 620. 00 366, 238, 840. 00 75,270,120.00 442, 969, 900. 00 71, 237, 820. 00 499, 546, 900. 00 51, 029, 500. 00 562,776,400.00 48,196, 800. 00 618, 346, 900. 00 97, 752, 680.46 699, 464,680.46 71, 278, 900. 00 769,714,780.46 83, 734, 000. 00 860, 333, 880.46 45, 250, 000. 00 918, 475, 080.46 47, 548, 000. CO 968, 817, 480.46 41,270,700.00 981,134, 880. 46 7, 409,100. 00 981,134, 880. 46 981,134, 880. 46, 2, 221, 680. 00 981,1.34, 880.46 •745, 800. 00 1, 067, 844, 880. 46 9, 368,480. CO 1,109, 314, 880. 46 25,455,980.00 1.172, 314, 880.46 21,069,520.00 1.173, 354, 880.46 10,188,895.00 1,173, 3.54, 880. 46 9, 687, 428. 00 1, 258, 514, 880. 46 64, 623, 667. 00 Total redeemed. Outstanding at close of fiscal y e a r . $10, 947, 860. 00 $87, 545,800. 00 18 773,580.00 188,841,700.00 267, 897, 040. 00 17, 678, 640. 00 333,152, 660. 00 33,086,180.00 408, 422, 780. 00 • 34, 547,120. CO 479, 660, 600. 00 19,886, 300. 00 530,690,100.00 32, 086, 300. 00 578, 886, 900. 00 39, 460, 000. 00 676, 639, 580. 46 22, 825,100. 00 747,918,480.46 21, 796, 300. 00 831,652,480.46 28, 681, 400. 00 876, 902, 480. 46 41, 572, 600. 00 924, 450, 480.46 44, 367, COO. 00 9.65. 721,180. 46 15, 413, 700.00 973,130, 280. 46 8, 004, 600. 00 975, 351,960. 46 5, 782,920.00 976, 097, 760.46 5, 037,120. 00 985. 466, 240.46 82, 378,640.00 1, 010, 922, 220. 46 98, 392, 660. 00 140,323,140.00 1,031,991,740.46 131,174,245. 00 1, 042,180, 635. 46 121, 486, 817. 00 1,051,868,063.46 1,116, 491, 730. 46 142, 023,150. 00 SILVER CERTIFIOATES. The silver certificates issued during the year amounted to $105,896,000, and those redeemed to $21,917,378, increasing the amount outstanding from $145,543,150 to $229,491,772. The holdings of the Treasury, however, increased from $3,215,200 to $28,732,115, so that the increase in the actual circulation was only $58,431,707. The certificates issued were nearly all ofthe denomination of $10 and under, of which the bulk of this circulation now consists. The following table shows, by de 10 REPORT ON THE FINANCES. nominations, the amount outstanding June 30, 1887, the amounts is» sued and redeemed during the year, the total issues and redemptions^, and the amount outstanding June 30, 1888 : Issued. Outstandins^ • J u n e S O , 1887. DenoiTQinatioii. Redeemed. Outstanding: During T o J u n e 30, D u r i n g fiscal T o J n n e SO, JuneSO, 1888. fiscal y e a r . , 1888. year. 1888. One dollar $13,979,496.10 $14,172, 000 $28, 328, 000 $1, 419,892.10 8, 905, 99.6.40 10, 424, 000 19, 400, 000 732, 758. 40 Two dollars 7, 728, 241. 50 44, 700, 000 52, 460, 000 818, 381. 50 Five dollars 54, 200, 870. 00 36, 520, 000 128,794, 000 10, 255, 360. 00 Ten dollars 50, 629, 016. 00 80, 000 83, 586, -IOO 6, 868, 856. CO Twentv dollars 804, 500. 00 12, 050, COO Fii"ty dollars . . . 5,196,100.00 660,130. 00 3,713,430.00 14,140, 000 One hundred dollars 188, 500. 00 Five hundred dollars. 669, 000. 00 • 13, 650, 000 199, COO. 00 521, OGO. 00 23, 490, 000 Onethousand dollars.. Total $1, 596, 396 802, 762 850,140 48, 328, 490 39, 745, 840 7, 658, 40t) 11, 086, 700 13,169. 500 23,168, 000 145, 543,150. 00 105, 896, 000 375, 898, 000 21, 947, 378. 00 146, 406, 228 $26 18, 51, 80, 43, 4, 3, 731,604 597, 238 609, 860^ 465, 510 840,160^ 391, 600 053, SCO" 480, 500 322, CCO^ 229,491,772 As it had been impossible to meet the demand for the one and two^ dollar certificates, it was deemed expedient to suspend their issue for a while in order to accumuhite a supply, and accordingly none were paid out between October 18, 1887, and February 3, 1888. Since the latter date the Treasurer has been able most of the time to furnish them as they have been asked for. The seasoning which the notes now receive after they come from the presses fits them better for wear, and the result is seen in the improved condition of those now in circulation^. The excess of standard silver dollars in the Treasury over the silver certificates outstanding, inclusive of those on hand, rapidly declined during the first eight months from about sixty-six millions to a daily . average of about twenty millions. Whether the limit will be reached, so that the issues must be confined to the amouut of the redemptions and of the receipts of the doilars, depeuds of course upon the capacity of the country to absorb the paper, and can not certainly be foretold. I t seems likely, however, that before long the whole of the Treasury stock of the coin will be represented by certificates. The issues and redemptions and the amounts outstanding, by fiscal years, are given iu the follovYing statement: Fiscal year. 1878 1879 1880 1881 1882 1883 3884 1885 " J 886 1887 ^ 1888 . . . . . I s s u e d duri n g fiscal year. $1,850,410 9, 149, 590 10,018,000 40, 912, 000 24, 300, 000 35, 040, 000 52, 280, 000 40, 000, 000 4, 600, 000 51,8.52,000 105,896,000 Redeemed T o t a l is&ued. d u r i n g fiscal year. $1,8.50,410 11,000,000 21,018,0-10 61, 930, 000 86, 230, 000 121,270,000 173, 550, 000 213,550,000 218.1.50,000 270, 002, OCO 375, 898, 000 $8, 460, 050 183, 680 2,119, 740 9, 369, 820 12,519,879 20, 005,140 20, 990, 045 28, 523, 971 22, 286, 625 21, 947, 378 Total redeemed. $8, 460, 050 8, 643, 730 10,763,470 20,133, 290 32, 653,169 52, 658, 309 73, 648, 354 • 102,172, S25 124, 458, 850 146, 400, 228 Outstanding a t close of fiscal y e a r . $1,850, 4l'o 2, 539, 950 12, 374, 270' 51,166,530' 66, 096, 710 88, 616, 831 120, 891, 691 139, 901, 646' 115, 977, 675 145,543,150 2-^9, 491, 772 STANDARD SILVER DOLLARS. The coinage of standard silv^er dollars during the year amounted to $32,484,673, bringing the total coinage to $299,424,790. Of the year's increase in the stock of these coins, $32,445,517 rested at the year's end in the vaults of the Treasury-, and $39,156 in the hands of the people* 11 TREASURER. The following table shows the annual coinage and movement: Fiscal year. 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 Annual coiuage. Total coinage. $8, 673, 500 $8, 573, 500 35, 801, 000 27, 227, 500 63, 734, 750 27, 933, 750 91, 372, 705 27,637,955 27, 772, 075 119,144, 780 28,111,119 147, 255, 899 28, 099, 930 175, 355, 829 28, 528, 552 203, 884, 381 29, 838, 905 ' 233, 723, 286 33, 266, 831 266, 990,117 32,484,673 299, 424, 790- On h a n d a t close of year. $7,718,357 28,147,351 44, 425, 315 62, 544,722 87, 153, 816 111, 914, 019 13.5, 560, 916 16.5,413,112 181,253,566 211,483,970 243, 879, 487 N e t distribu- Outstand- P e r c e n t a g e P e r c e n t a g e total t i o n d u r i n g i n g a t close of a n n u a l c oof of y e a r . c o i n a g e dis- s itna angdei nogu. t year. tributed. $855,143 6, 798, 506 11, 655, 786 9,518,548 3,162, 981 3, 350, 916 4, 453, 033 — 1 , 323, 644 13, 998, 451 3, 036, 427 39,156 $855,143 7, 6.53, 649 19, 309, 435 28, 827, 983 31, 990,964 35, 341, 880 39,794,913 38,471,269 52, 469, 720 55. 506, 147 55, 545, 303 9.9 24.9 41.7 34.4 11.3 n.9 15.8 46.9 9.1 0.1 21.3 30.2 31.5^ 26.8 ' 24. 0' 22. 618. 822.420.7 18.5. Owing to the scarcity of one and two dollar notes, and the annual demand occasioned b}^ the movement of crops, between the endof May and the end of November, 1887, nearly nine millions ofthe dollars were drawn into circulation, many of them against the protest of the persons who took them, but when the notes were again to be had the dollars came back to the Treasury as fast as they had gone out. The various efforts that have been made to put the coins into,greater circulation have pretty clearly demonstrated that the people, who are willing to pay for them, through the Treasury, in gold, and to be at the expense.of coining and transporting them, have all of them they want or are willing to take. The recent movement to make room for them by stopping the issue of paper currency of less denomination than $10 was met by the law creating the small silver certificates—another expression of the will that the purchase of silver should be continued, but the circulation of the dollars restricted. The opinion of the late Treasurer, that $65,000,000 is the extreme limit of the circulation that may be obtained^ has so far been borne out by experience. Whatever may be said of the policy of buying silver in a falling market—a speculation that is not likely to prove any the less losing because the public funds are employed in it—the reasons why the coinage of the bullion into dollars should be stopped seem to be conclusive. The fictitious value at which the coins are issued makes them a purely subsidiary domestic currency, the limit of the amount of which must be fixed by our own wants. Once coined, they are on our hands. They can not be melted or exported. Their accumulation loads us down with tokens and threatens to hamper us in our dealings with other nations, while we are rich enough to have good money. It is plain that not more than one to each inhabitant can be kept in circulation;' the rest mustliein the vaults of theTreasury—the representatives of the greater value of the gold that was paid for them, or the basis of'a circulation of certificates. The number already coined will probably answer every demand that will be made for many years to couie. The increase of the certificate circulation could be maintained with perfect safety and prompt redemption if the coinage were stopped and the bullion lodged in the Treasury in the form of heavy bars or ingots. In this way the expense of coinage would be saved, the labor and risk of transportation, counting, aud safe-keeping much lessened, and the metal at thesame time be kept available, iu convenient shape and without loss OF confusion of values, for any use that could be demanded of it. 12 REPORT ON T H E FINANCES. The new silver vault in the Treasury building was turned over to the Treasurer on the 7th day of August. It is 89 feet long, 51 feet wide, and 11 feet 9 inches high in its interior dimensions. In it is set an iron cage divided "perpendicularly into sixteen compartments, each 20 feet Ibug and 10 feet wide. I t will hold a hundred million silver dollars, and is said to be the largest treasure vault in the world. The first shipment of coin to be stored in it was received on the 29th of August. Since then the shipments have been at the rate of half a million dollars a day, and they will be continued ^at this rate until the vault is filled. The additional storage capacity is equal to the total coinage of dollars for three years 5 butby the end of that time, unless the coinage is suspended, still further vault-room will probably have to be provided. The Treasury holdings of silver coin on June 30, 1887, and June 30, 1888, are exhibited iu the following table: Standard silver dollars. F r a c t i o n a l s i l v e r coin. Office. Treasurer TJnited States, Washington Assistant Treasurer United States— ' Boston Chicago .. Cincinnati New Orleans New York Philadelphia . . Saini Louis United States mint— Denvei" . ^ Carson City New Orleans Philadelphia ... Sau Francisco United States a'Ssay-ofiiceBoisA City Charlotte New York Saint Louis J u n e S O , 1887. J u n e SO, 1888. J u n e SO,-1887. J u n e 30, 1888.. $61, 510, 551. 00 $68, 032, 270. 00 $2,094,742.00 $2,315,341.75 3, 350, 232. 00 1, 637, 2.57. 00 2,153,107. 00 69, 287. 00 3, 694, 663.00 30,952,631.00 12, 223, 644. CO 22, 663, 333. CO 10, 872, 848. 00 3, 607, 657. 00 2, 091, 055. 00 1, 820, 808. 00 733, 500. 00 7,713,531.00 31,661,367.00 14, 786, 349. CO 18, 402, 410. 00 11,311,788.00 394,673.50 893, 741.40 1,517, 9.38 00 55, 030. 00 .411,442.21 10, 294, 232. 72 2, 438, 054. 05 7,241,081.50 1,491,005.00 499, 334. 05 842, 852. 55 1, 293,195. 00 324, 000,00 385, 026. 88 9, 726, 4 U . 35 1, 882, 202. 90 6, 936, 652. 00 1, 521, 442. 00 9, 821. CO 8,179,239.00 3.5, 386,110. 00 18, 788, 015. 00 . 5, 315. CO 11,855, 052. 00 47, 016, 836. 00 25,142, 074. 00 .80 870. 55 .17 6.5,198.04 55, 901.68 .90 594. 43 .73 18, 739. 36 297, 928. 23 350. 00 1.00 1,000.00 10.00 12.60 Total A d d a m o u n t in t r a n s i t b e t w e e n offices 211, 491, 089. 00 438. CO 244,181, 012. 00 382. 00 26, 953, 934. 22 10, 064. 76 26, 043, 722.13 , 340. 22 Total licss amount d u e depositors 211, 491, 527. 00 84,352.00 244,181,394.00 61, 999.00 26, 963, 998. 98 21, 818. 52 26, 044, 062. 35 17, 640.10 211, 407,175. 00 244,119, 395. 00 26, 942,180.46 26, 026, 422. 25 A m o u n t held as assets . . . . FRACTIONAL SILYER COIN. The amount of fractional silver coin in the Treasuryhas changed but little since the first accumulation after the resumption of specie payments. There was a decrease during the first five months of the fiscal year, followed by an increase of less volume in the next seven months. THe net decrease in the vear was $919,936.63, from $26,963,998.98 to $26,044,062.35. The following table shows the amount of each denomination in each, office on June 30,1888. I t will be seen that there was $20,503,136.50 in half dollars and only $5,540,925.85 in other pieceSo There has been no great variation recently from this proportion. I t would seem to be plain thatthereisanexcessofsomethiuglike $15,000,000 of the fifty-cent pieces iu the country above the amount that is needed for circulation, and this 13 TREASURER. excess the Treasury will doubtless be obliged to carry until the pieces are recoined into other denorninations or absorbed by the growth of business. Office. Fifty cents. Twenty-five cents. Twenty cents. T r e a s u r e r XJ. S., $1,491,655.00 Washington $776, 790. CO $17.40' A s s i s t a n t treasurer U . S . : 35.5, 200.00 Baltimore 112,800.00 Boston ... 576, 570. 00 21.5, 890. 25 • Chica'^o 924, 000. 00 . 305, 000. 00 149, 551. 00 Cincinnati 155, 000. 00 " " 140. 66' 34.00 N e w Orleans . 255, 300. 00 104, 045. 00 New York .7, 627, 000. 00 1, 878, 000. 00 ' P n i l a d e l p h i a . 1,032,000.00 586, 000. do " " 2 0 0 . 0 0 San Francisco 6, 889, 845. 00 38, 763. CO 125. 00 268, 500. 00 S a i n t L o u i s . . . 1,197,650.00 100. 00 U . S. M i n t : Carson City .. 333. 00 209.75 N e w Orleans . Philadelphia . 4, 032. 50 1, 575. 50 San F r a n c i s c o 190, 027. 50 U . S. assay-office, Denver 20, 503,136. 50 4, 632,601. 00 Unassorted. Ten cents. Five cents. Three cents. $17, 690. 00 $345. 90 $65. 55 $28, 777. 90- 28, .500.00 23, 545. SO 24,000.00 ' 18,'500.00 23, 615. 00 129, 000. 00 22, 000. CO 6,681.00 28, 000. 00 200. 00 400. 00 30.00 63.00 2 604. 05' 26, 384. 00' 40,195. CO- 741. 00 13.05 68.00 172.25 1, 600. 00 1, 233. 50 350. 00 :80. 00 •4.50 .51. 60 .05 .03 13,131.30 107, 900. 70 1, 847. 58' 92,411.35 240, 222. 90 26, 842. 00 .06 .03 .7$ 276. 26 63. 96 583. 42 459, 626. 63. .90 616.40 1 442,614.90 4, 883. 50 MINOR COIN. The minor coiu in the Treasury is mostly in good conditioii and not in excess of what is needed. The holdings decreased from $115,472.94 to $112,920.73 during the year. On June 30,1888, they were as follows: Office. F i v e cents. Three cents. T w o cents. Treasurer United States, Washington Assistant treasurer United States: Baltimore Boston Chicago N e w Orleans New York Philadelphia San F r a n c i s c o S a i n t Louis . United States mint, Philadelphia U n i t e d S t a t e s assay-office: Denver New York Total $3, 800. 00 $315. 00 $270.00 500. 00 1, 4.50. 00 5, 600. 00 3, 341. 00 155.00 4, 002. 00 23,740. 00 5, 459. 00 200. 00 1, 680. 00 213. 00 150. 00 724. 00 101.07 1, 770. 00 3, 240. 00 1, 260. 00 630. 00 410. 00 660. 00 40.00 726.00 63. 82 520. CO 1,140. CO 150. 00 350. 00 48,247. 00 10, 083. 07 4, 328. 82 One cent. Unassorted. Total. $565.21 $5, 405. 21 129. 65 4, 230.00 290. 64 4, 459.79 1, 320. 45 240. 00 3, 980.10 4.24 293. 08 4, 059. 51 1, 200. 00 1,010.00 2, 387. 22 977. 28 '1,060.00 '"'i,'130.'93 6, 949. 657, 073. 4a 7,350.45 8, 770.10617. 2 r 11, 551. 51 31 517.22 7, 846. 283,370.93 22, 468. 60 22, 468.60 .06 .08 .06. , .08i 32, 356. 59 112, 920. 73 $455. 00 17, 905. 25 RECOINAaE OF UNCURRENT COINS. There were transferred to the mint, during the year, for recoinage^ $6,565 in gold coins and $535,355.99 in silver coins, the net loss on which was $20,275.46. There were also transferred minor coins amounting to $157,418.60 to be recoined .or cleaned. The silver, which was of the following denominations, was selected with a view to relieve the Treas- 14 REPORT ON T H E FINANCES. nry, to the best advantage possible, of worn pieces and pieces that are no longer coined or circulated: Denomination. Fifty cents Twenty-five cents Twenty cents. ... 3^en cents Five cents Three cents Mixed . . . Amount. "« . -.-- . -- Total fractional silver <;oin.. One dollar $117, 577. 50 34, 834. 00 ..... 2, 218. 00 6, 090. 00 14, 927. SO 1, 457.13 -- 345,197.06 521, 300.99 14, 055. 00 -- Total 535, 355. 99 ; The appropriations for this purpose have not been sufficient to maintain the coin circulation at its standard. The condition of the gold coins in the Treasury is good, with the exception of a small amount that is worn very nearly to the limit of tolerance; but the fractional silver has been steadily deteriorating for some years. Most of the pieces in the sub-treasury at San Francisco, especially the half-dollars, are very much worn, many of them being quite smooth. I t has been impossible t o rejoin them, as the loss would have been too great in proportion to the new coinage that it was necessary to produce. There has been a steady demand for dimes, which at times in foriner years the Treasury was able to sui3ply only by melting up new pieces of higher denominations, thus avoiding apparent loss, but incurring a useless waste of labor. A 'liberal appropriation, if made available until used, could be employed to advanta;ge in the recoinage of worn and redundant fractional silver •ooins. M U T I L A T E D , STOLEN, AND C O U N T E R F E I T CURRENCY. As compared with the preceding year, there was a marked decrease iin the amount of the deductions from the face value of mutilated paper ^rnoney redeemed, and also in the amounts of spurious and irredeemable notes and coins presented at the Treasury, showing a gratifying imfprovement in the condition of the money circulation in this respect. The deductions for mutilations decreased from $8,304.23 to $4,214.39 ; the amount of counterfeit notes, from $7,420 to $6,738; the amount of stolen unsigned national-bank notes, from $245 to $100; and the number ©f spurious silver coins from 6,449 to 5,458. There have appeared 'Counterfeits of the one-dollar and five-dollar silver certificates, ofwhich a few have come to the Treasury. There has also occured a theft of $700 in unsigned notes of the First National Bank of Atchison, Kans., of the denominations of ten and twenty dollars, bearing the Treasurv numbers 679,929 to 679,942, and bank numbers 655 to 66S. None of these, notes, which are irredeemable, have yet been seen at this office. 15 TREASURER. The following table shows the denominations and amounts of counter/feit United States and national-bank notes rejected during the year: United States notes. Denomination. •One dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fifty dollars O n e h u n d r e d dollars F i v e hundred dollars ., '.... . - $19 66 405 760 940 1,150 300 500 . - Total 4,140 Nationalbank notes. $28 530 860 780 400 2,598 The year's receipts of silver coin at the several offices of the Treasury and the number of spurious pieces found are shown in the following statement: A r a o u n t received. Denomination. Standard dollars H a l f dollais 'Quarter dollars ... . . . - - - Total... N u m b e r of counterfeits. $41,936,019.00 7, 340, 366.00 7, 014, 826.75 3, 694 742 1, 022 56, 291, 21L 75 5,458 FRACTIONAL CURRENCY. The net value of the fractional currency redeemed during the year was $7,400, an increase of $276.85 over the year before. The sum of $16,920.55, accumulated since April 30, 1875, from discounts on the face valueof mutilated notes redeemed, was covered into the Treasury on May 12, 1888, making a total decrease of $24,320.55 in the volume outstanding, as shown by the accounts. The increase in the regular-redemptions, though slight, is noteworthy as making prominent the tendency toward a steady annual rate. This tendency, which has been apparent for some time, and which is clearly seen in the following statement of redemptions since the issue ceased, may be taken to show that there is still extant a considerable volume of this currency, of which a small percentage is likely to find its way to the Treasury year by year for some time to come. Fiscal year. 1877 1878.-.. 1879 11880 1881 1.882..... :... •:. Fiscal year. Amouut. $14, 043, 458. 05 3, 85.5, 368. 57 705,158. 66 251,717.41 109, 001.05 58, 705. 55 1883 1884 1885 1886 1887 1888 Amount. ' $46, 556.96 20, 629. 50 15, 885.43 10, 088. 36 7,123.15 7, 400. 00 16 REPORT ON T H E FINANCES. POSTAL REVENUES. The method of handling the revenues of the Post-Office Department lacks several of the safeguards that surround other moneys of the Government. The greater part of the receipts never reach the Treasury, but are disbursed by the postmasters into whose hands they were paid^ and upon whose statements both the Post Office Department and t h e . Treasury must, in a certain sense, rely. Hence there is no separate check upon either the receipt or the disbursement. The accounts themselves do not pass through the same channels as all other accounts of revenues and expenditures. The whole system, in comparison with the excellent one that has been devised for the public revenues, is crude and unscientific, and there does not seem to be auy good reason why i t should not be amended so that all of the postal funds shall be deposited in the Treasury and there received, disbursed, aud accounted for in tho same manner as all other public moneys. SPEAKER'S CERTIFICATES. The disbursements during the year on certificates of the Speaker of the House of Eepresentatives for the compensation and mileage of Members aud Delegates amounted to $1,824,480.48. The method ofmaking these X)ayments is anomalous, as the Treasurer performs regular duties of a class which, with this exception, are devolved upon disbursing officers.. Besides, it is a hardship to him to be required to pay out nearly $2,000,000 every year, without the warrant of the Department, on accounts which have not been audited and passed, but which are afterwards subjected to that test. The recommendation made in former annual reports, that this duty be transferred to a disbursing officer, is. respectfully renewed. R E C E I P T S FROM CUSTOMS AT N E W YORK. The receipts of the custom-house in New York were nearly the same in amount as those of the preceding year. The only noteworthy change in the kinds of money was an increase of about $23,000,000 in the amount of gold certificates and a corresponding decrease in the amount of United States notes. This is accounted for by the increased volume of gold certificates outstanding, and the greater use made of them by the assistant treasurer in New York in the settlement of balances a t the clearing-house. Under the new arrangement, by which the receipts of the custom-house are deposited by t;he banks of the city directly intothe sub-treasury, the payments are made in large sums and mostly in large denominations of gold certificates. The receipts of silver certificates and silver coin show no increase, notwithstanding the increase in the amotints ofthe former in circulation. J 17 TREASURER. The following table shows the amount of the receipts and the percentage of the total receipts, of each kind of money, by fiscal years, beginning with 1884, and by months for the fiscal year 1888: United States notes. Period. Per P e r G o l d cer- P e r S i l v e r cer- P e r Goldcoin. ct. tificates. ct. ct. tificates. ct. Silver coin. P e r T o t a l re'ct. ceipts. \ Fiscal year 1884 $11, 791, 000 8.8 $3, 556, 000 Fiscal year 1885..: 36,161, OCO 29.9 1, 544, 000 Fiscal year 1886. 59, 549, 000 44.9 941, 000 Fiscal year 1887.: 39, 939, 500 27^3 1, 256, 750 0.7 54, 343, OCO4 L 0 17, 404, 000 13.1 390,500 0.3 132, 627, 500 .0.9 86, 887, 000 59.5 17, 564, 000 12.0 468, 750 0.3 146,116, 000 1887. July August Sevtember . . . October November ... December 1, 471, 000 n.6 1, 598, 000 10.3 1, 444, 000 10.4 1,405,000 1 L 3 1, 237, 000 12.1 1,232, 000 12.7 L 4 9, 689, 000 76.2 0.8 12,475, 000 79.9 1.1 11,051,000 79.9 1.2 9, 683, 000 78.1 L 2 7, 679, 000 75.4 Ll 7,301, 000 74.8 1, 330, 000 10.4 1,377, 000 8.8 1,160, 000 8.4 1,127, COO 9.1 1, 097, 000 10.8 1, 095, 000 11.0 47, 36. 33i 35, 55, 47, 000 000 500 000 500 300 0.4 0.2 0.2 0.3 0.5 0.4 12 714 000 15, 612, 000 13, 833, 000 12, 392, 000 10,187, 000 9,789,000 1888. January February March April May June 1,407, 000 10.4 1, 728, 000 13.1 1, 227, 000 11.1 1, 497, 000 13.4 1, 29.5, 000 13.0 1, 227, 000 U . l 0.7 10, 484, 000 77.6 0.6 9, 968, 000 75.8 0.6 8, 702, 000 78.7 0.7 8,165, 000 73.1 0.9 6, 952, 000 69.6 0.7 8, 078, 484 73.5 1, 483, 000 11.0 1, 348, 000 10.3 1, 022, 000 9.2 1, 393, 000 12.5 1, 614, 000 16.1 1, 682, 000 14.4 39, 32, 39, 37, 36, 33. 000 000 000 500 000 000 0.3 0.2 0.4 0.3 0.4 0.3 13, 509, 000 13,150, 000 11, 059, 000 11,176, 000 9, 990, COO 10, 996, 484 Fiscal 1888 177,000 126. 000 144, 500 142, 000 118, 500 113, 700 96, 74, 69, 83, 93. 76, 000 000 000 500 000 000 2.7 $88, 750, 000 66.4 $29,482, 000 22.0 $134,000 0.1 $133,713, 000 L 2 42, 779,000 34.1 44,660,000 35.6 168, 000 0.1 125, 302, 000 year 16, 768, 000 11.6 1, 313, 200 0.9 110, 227,484 76.4 15, 628,000 10.8 470, 800 0.3 144,407,484 C L E A R I N G H O U S E TRANSACTIONS. The transactions between the I^Tew York sub-treasury and clearinghouse show a decrease of volume as compared with the preceding year, and a slight increase in the balances due the clearing-house. The following is a statement of the transactions for the past five fiscal years: Period. Fiscal Fiscal Fiscal Fiscal year year year year 1884 1885 1886 1887 Checks sent to clearing-house. Checks received from clearinghouse. Balances due assistant treasurer. Balances due clearing- , house. $116, 109, 125, 116, $295, 541, 948. 32 278,830,720.11 276, 855, 487. SO • 353,470, 901. 64 $1, 331, 880. 02 694, 284.08 1, 643, 279. 86 181, 409. 57 $180, 170, 162, 236, 666, 420, 782, 671, 000. 26 072. 25 520. 53 928. 61 207, 104, 716, 9B0, 828. 08 931. 94 246. 63 382. 60 1887. July August St'ptember October November December ;. 8,015,851.62 9, 248, 8.58. 76 9,167, 233. 41 6, 498, 590. 29 4, 063, 142.17 4, 994, 683. 48 27, 26, 42, 31, 16, 26, 212, 414. 30 433, 997. 75 34.8, 851.15 822, 007. 57 066, 46.5. 76 749,164.40 19,196,562.68 17, 18.5,138 99 33,181, 617. 74 25,323,417.28 12, 003, 323. 69 21, 754, 480. 92 1888. January February Majch April May June F i s c a l y e a r 1888 H. Ex. 2- 5, 916,126. 90 10, 382, 523.15 10, 527, 8.54. 92 9,149,388 47 11, 294, 863. 72 10,140, 418. 35 25, 5.53,115. 79 17, 603, 884. 05 21, 987, 549. 95 30,408,631 42 37, 798, 822. 77 33, 864, 838. 22 99, 399, 535. 24 337, 849, 743.13 382, 681.63 382, 681. 63 19, 636, 988. 89 7, 604, (142. 63 11, 459, 695. 03 21, 259, 242. 95 26, 503, 959. 05 23, 724, 419. 87 238,832, 889. 52 18- R E P O R T ON T H E FINANCES. GENEVA A^VARD. . The pa^^ment of the balance of the Geneva award, amounting to $249,168.41, heretofore withheld from claimants, was begun on May 19, 1888, under a decision ofthe Court of Claims, affirmed by the Supreme Court, the Treasurer acting, by direction of the Secretary, as a special disbursing officer. Up to June 30 four hundred and seventy claims, amounting to $38,286.87, had been received and paid. NATIONAL BANKS. A t the close of the fiscal year the Tr^^asurer held United States bonds of the face value of $178,312,650 for 3,128 national banks, in trust to secure their circulating notes, and United States bonds of the face valueof $56,128,000 and the market value of $68,568,192.50 for 290 national banks designated as depositaries, in trust to secure public moneys lodged with them. The aggregate face value of the bonds held was $234,440,650. There was a decrease during the year of $13,654,050 in the amount held as security for circulation, and an increase of $29,•642,500 in the amount held as security for public moneys, making a net increase of $15,988,450 in all. The amount of bonds deposited was $49,189,700, of which $12,647,700 were for circulation and $36,542,000 for public moneys. The amount withdrawn was $33,201,250, of which $26,301,750 had been held for circulation and $6,899,500 for deposits. The following table shows by classes the amounts of the bonds held on June 30, 1888. The three per cent, bonds of the loan of 1882 had been called for payment and interest on them had ceased. Class of b o n d s . B o n d s i s s u e d to P a c i f i c r a i l r o a d s F u n d e d loan of 1891 F u n d e d loan of 1907 i.. L o a n of J u l y 12, 1882 Total Eate T o secure per circulationc e n t . face v a l u e . 6 4i 4 3 To secure public moneys. T o t a l face value. Face value. M a r k e t value. $3,181,000 69, 670, 300 105, 423, 850 37, 500 $901,000 15, 663, 500 39, 428, 500 135, 000 $1,126, 250. 00 16, 838, 462. 50 .50,468,480.00 135, 000. 00 $4, 082,-000 85,333,800 144, 852, 350 172, 500 178, 312, 650 56,128, 000 68, 568,192. 50 234, 440, 650 All the bonds held for the banks are examined once a year or oftener by officers or agents of the banks, as required by law. The examinations are based an statements furnished by the banks to the Comptroller of the Currency, setting forth the kinds and amounts of bonds they have deposited, which statements are certified by the Comptroller as to the bonds held for isecurity of circulating notes, and brought to this office without notice. These examinations, averaging in number more than ifcen a day, are a continuous inventory of the vault in which the bonds 19 TREASURER. The table below exhibits the number of banks, the number of depositaries, and the amounts of bonds held by the Treasurer at the close of <€ach year from the establishment of the national banking system : Number Bonds held Bonds held Number of deposi- to secure cirto secure ofbanks. taries. culation. public funds. Fiscal year. 1863 1864 1865 1866 1867 1868 1869 1870 1871 .1872 1873 1874 1875 1876 1877 " 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 .1888 26 467 1,294 1,634 1,636 1,640 1,619 1.612 1,723 1, 853 1,968 1,983 2,076 2,091 2, 078 2,056 2,048 2, 076 2,115 2,239 2, 417 2, 625 2,689 2,809 3,014 3,128 204 330 382 385 370 276 148 159 163 158 1.54 145 143 145 124 127 131 130 134 140 135 132 160 200 290 $1,185, 750 44, 266, 900 235, 989, 700 327, 310, 350 340,607,500 341, 495, 900 342,851,600 342, 278, 550 359, 88.5, 550 380, 440, 700 390, 410, 550 391,171,200 376, 314, 500 341,394,750 338, 71.3, 600 349, 546, 400 354, 254, 600 361, 652, 050 360, 505, 900 360, 722, 700 356, 596, 600 334,147, 860 312,145, 200 276, 974, 800 191,966.700 178,312,650 Total of bonds held. $30, 009, 750 32, 707, 500 38,177, 500 39,177, 950 38, 517, 950 2.5,423,350 16, 072, 500 15, 535, 500 ]5, 329, 000 15,210,000 15,390,200 14, 547, 200 14, 578, 000 15, 377, 000 13, 858, 000 14, 421, 400 14, 777, 000 15, 295, 500 15, 925, 000 17,116,000 17, 060, 000 17, 607, 000 19, 659, 900 26, 485, 500 56,128,000 $1,185, 750 74, 276, 650 268, 697, 200 365, 487, 850 379, 785, 450 380,01.3,850 368. 274, 950 358, 351, 050 375,422, 05P 395,769, 700 405, 620, 550 406,561,400 390, 861, 700 355, 972, 750 354, 090, 600 363,404, 400 368, 676, 000 376, 429, 050 376, 801, 400 376, 647, 700 373, 712, 500 351,207, 850 329,^752, 200 295,634, 700 218, 452, 200 234,440, 650 The amount of public moneys held by depositary banks at .the close of the fiscal year was $58,712,511.11, of which $54,933,992.80 stood to the •credit of the Treasurer and $3,778,518.31 to the credit of disbursing officers. The increase in the total during the year was $35,395,633.20. The following table shows the receipts and disbursements of public moneys by depositary banks for each fiscal year, and the balance standi n g to the credit of the Treasurer at the close of each year, beginning with 1864: Fiscal Receipts. F u n d s transferred F u n d s transferred to Treasury by to depositary banks. depositary banks. D r a f t s d r a w n on depositary banks. 1864... 1865 . . . 1866... 1867 - . . 1868... 1869... .1870... 1871 . . . 1872... 1873... 1874... 1875 . . . 1876... 1877... 1878 - . . 1879 . . . 1880 . . 1881... 1882... 1883... 1884... 1885 . . . 1886... 1887 . . 1888... $153, 396,108. 71 987, 564, 639.14 497, 566, 676. 42 351, 737, 083. 83 225,244,144.75 105,160,573.67 120,084,041.79 99, 299, 840.85 106,104, 8.55.16 169, 602, 743. 98 91,108,846.70 98, 228, 249.53 97, 402, 227. 57 106, 470, 261. 22 99, 781, 053. 48 109, 397, 525. 67 119,493,171.94 131,820,002.20 143,261,541.41 146,974,256.86 129,100, 449. 35 119, 056, 058. 94 ]2.{, 592, 221.68 128, 482, 769.20 132, 691, 946.77 $816, 000.00 8,110, 294. 70 13, 523, 972. 62 8, 405, 903. 63 9, 404, 392. 00 10,0.52,199.44 2, 466, 521. 06 2, 633,129.45 3, 050, 444. 05 9, 004, 842. 49 2, 729, 958. 81 1, 737, 445. 60 2, 445, 451. 49 2, 353,196.29 2, 385, 920.38 6, 890,489. 06 6, 489, 634.17 5, 646, 092.46 5, 256, 574. 29 5, 292, 840. 22 5, 501, 161.18 4, 798, 782 35 8, 786, 546. 55 11,476,372.92 80, 082,442. 39 $35, 507, 674. 08 583, 697, 912.72 363, 085, 565.65 331, 039, 872. 57 215, SJ 1, 460. 69 114, 748, 877. 24 111, 123, 926.18 89, 428, 544. 04 94\ 938, 603.76 108, 089, 786.76 134,869,112.57 82,184, 304. 05 89,981,146.99 94, 276,400. 35 90,177, 963.35 100, 498, 469.29 109, 641, 232.64 118,143, 724.91 129,131, 305.07 132, 075, 358.80 116, 227, 722.17 105, 952, 609.09 112,862,815.24 118, 372, 954.27 161,168, 708.67 $28,726, 695.88 415,887,767.81 149, 772, 756.11 37, 218, 612.76 22,218,187.92 14, 890, 463. 75 11,818,228.61 13, 790, 961. 01 13, 635, 837.49 16,110, 519. 07 13, 364, 554. 52 13, 657, 678. 25 13,909,616.83 14, 862, 200. 88 12, 606, 870. 60 15, 544, 058. 34 15, 525, 023.03 18, 388, 772.82 18, 709, 928. 56 18, 771, 472. 81 17, 688i 442.52 17, 633,235.03 16, 464, 462.15 16,432,743.24 15,782,267.54 TotaL 4, 591, 520,290. 82 219, 340, 607.60 3, 792, 536, 051.15 963, 411, 357.53 Balance. $39, 976, 738.75 36, 065, 992. 06 31, 298, 319. 34 26,182, 821.47 23, 301, 709.61 8. 875,141. 73 8, 483, 549. 79 7, 197,015.04 7, 777, 873.00 62,18.5,153.64 7, 790, 292.06 11, 914, 004.89 7, 870, 920.13 7, 555, 776.41 6, 937, 916.32 7,183, 403.42 7, 999, 953. 86 8, 933, 550.79 9,610,432.86 10, 030, 698.33 10, 716,144.17 . 10,985,141.34 14, 036, 632.18 19,190, 076.79 54, 913, 489.74 •1 20 REPORT ON T H E FINANCES. SEMI-ANNUAL DUTY. The semi-annual duty assessed upon and collected from the national banks, on circulation, for the fiscal year, amounted .to $l,616,127.53y,. which is $428,795.22 less than was collected for the preceding yean. The national banks have paid into the Treasury since the organization of the system in 1863, on circulation, $67,457,848.83; on deposits, $60,940,067.16; on capital, $7,855,887.74, making an aggregate o r $136,253,803.73. This duty, from the regularity and certainty with wMch it has been collected, is remarkable in the history of taxation. It is assessed on a, full valuation of the property upon which it is levied. The returns are made to the Treasurer on blank forms furnished by him, and are susceptible of direct verification by the records of the Department. The amount of the assessment is readily ascertained, aud is paid into theTreasury by the banks themselves, without the intervention of an as•^essor, collector, or any other public officer. There are no licenses^., stamps, or formalities, excepting the blank pn which the returns are made and the simple receipt which is the evidence of payment. There have been no delinquencies, except iu the case of a few insolvent banks,.and even in most instances where banks are placed in the hands of receivers the assets are found to be sufficient to fulfill the conditions under which the law requires duty to be paid. Delays, which are infrequent, are of no avail in avoiding ultimate payment. Two or threeclerks in this office have always performed all the necessary labor, even when the tax amounted to $7,000,000 a year. Their salaries and the trifling co^t of the stationery needed, have comprised all the expense^, which has not exceeded a mill on the dollar of the amount collected. INDIAN TRUST FUNDS, The several funds held in this office in custody for the Secretary of' thelnterior, under the act of »Tuue 10, 1876, remain as reported for thelast fiscal year, as follows: Class of bonds. Registered. Coupon. Total. State and canal bonds. Arkansas—funded debt Florida—State stocks Louisiana—State stocks..' Mary land—State stocks North Carolina—State stocks ,... South Carolina—State stocks Tennessee—State stocks Virginia—State stocks . . . Virginia—Chesapeake and Ohio Canal bonds $168, 000 132, 000 37, 000 1,000 $168,000.00 132, 000. 00 37, 000. CO 8, 350. 17 192, 000. 00 125, 000. 00 314, 66(5, 66|« 540, 000. 00 1, 000.^00 778, 000 1,798, 016. 83f;: 1, 350.17 191, 666. 66f 540. 000. 00 192, 000 12.5, 000 123, 000 United States bonds. Bonds issued to Pacific railroads. Total 280, 000. CO 1, 020, 016. S 280, 000. 00 Interest is received and placed to the credit of the funds on the Maryland State stock and the Pacific Railroad bonds as it matures, and on a portion of the North Carolina State stock at irregular intervals, butnone on' any of the other stocks or bonds. 21 TREASURER. MISCELLANEOUS TRUSTS. United States bonds are held in this office in custpdy for the follow i n g trusts: American Priuting House for the Bliud, 4 per cents -Pennsylvania Company, 4^ per cents Manhattan Savings Institution, 4 per cents • Alaska Commercial Company, 4 per cents „„ Total $250, 000 200, 000 75,000 55,000 .,...„ : 580,000 The bonds described below are the property of the United States, :and are held in this office for the Secretary of the Treasury: Arkansas State bonds .-.. Louisiana State honds North Carolina State bonds 'Tennessee State bonds Virginia State bon'ds .'. .Nashville and Chattanooga Railroad bonds • Chesapeake and Ohio Canal bonds Total ,. $625,000 545,480 13,000 21,000 41, 800 500,000 12,000 ' .- 1,758,280 Of these the Louisiana State bonds are held as captured and abandoned property. The others have been acquired by settlements in pur•suauce of law and by payments out of regular appropriations to trusts to which they originally belonged. Interest is paid as it matures on .the Kashville and Chattanooga Railroad bonds, but none on any ofthe others. Tabulated statements of the bonds of the States have fre.qnently been furnished to the State authorities for information in relation to proposed adjustments of the claims of the Government. PACIFIC RAILROAD SINKINO FUNDS. United States bonds and first-mortgage Pacific Railroad bonds were lield for account of the Pacific Railroad sinking funds at the close of the.year as follows: Classes of bonds. -Bonds issued to Pacific railroads United States funded loan of 1907 Union and Central Pacific Railroad first mortgiage thirtyyear bonds Total For Union Pa- For Central Pacific Railroad cific Railroad Company.Company. Rate. Per cent. 6 4 $1,043,000 4, 478, 050 6 1,195, 000 352, 000 6, 716, 650 2, 900, 000 $2, 548, 000 First mortgage Pacific Railroad bonds to the amount of $835,000 were ^added to the sinking fund ofthe Union Pacific Railroad during the year, and $310,000 of the same class of bonds to the sinking fund of the •'Central Pacific Railroad, making a total of bonds held as given above. 22 REPORT ON T H E FINANCES. DISTRICT OF COLUMBIA TRUST FUNDS. The following-described securities are held in this office for the District of Columbia: Class of securities. Contractors' guaranty fund. Metropol- Firemen's itan Police relief fund. fund. District of Columbia 3.65 per cents.. $59, 000. do $28, 000. CO United States 4 per cents 133, 500. CO 1,000.00 United States 4h per cents 850. 00 Unsigned Disfcrrct of Columbia 3.65 per cents ...... Board of Audit certificates Chesapeake and Ohio Canal bondsTotal .. 193, 350. CO 29, 000. 00 Miscellaneous. $1. 000. 00 ' 800. 00 Total. $88, 000. 00 135, 000. 00*850. 00$3, 231, 000.00 20,134.72 84, 270. 00 3, 231, 000. 00 20,134. 72' 84, 270. 00- 1, 800. CO 3, 335, 404. 72 3, 559, 554. 72 A full statement of the operations and condition of the sinking fund of the District of Columbia is "given in a separate report, as requiredL bylaw. • CAPTURED AND ABANDONED P.ROPERTY. In pursuance of instructions from the Secretary of the Treasury, a^ sealed box of captured and abandoned property, deposited in this office for safe keeping, December 16,1868, was opened on the 16th of May, and the contents, consisting of watches, jewelry, knives, pistols, and other articles, were scheduled by a committee appointed by the Secretary, and delivered to an auctioneer for sale, as provided for by an act of Congress approved April 22, 1886. Jewelry, plate, and other articles, the contents of a box received June 11, 1869, have also been disposed of by return to claimants, and by sale, as provided for in the same act. Theonly remaining articles held as captured and abandoned propertj^, excepting the Louisiana State bonds described elsewhere in this report,, are the three swords formerly belonging to General David G. Twiggs,.. which are now in this office. REDEMPTION OF NAT IONAL-BANK NOTES. The national-bank notes presented for redemption during the yearwere valued by the owners at $99,152,364.34." This total included, $806,396.48 in United States and other currency, which was returned or otherwise separately accounted for, $1,979.40 in notes not redeemable under the regulations of the Department, and $2,722 in spurious notes. The corrections in count aggregated $14,749.28 in favor of th^ owners^ and $2,741.70 against them. The net proceeds, exclusive of $716.62, apXilied in payment of express charges, were $98,246,727.42, with $105,830^ remaining uncounted. The redemptions were a little more than $11,000,000 greater than those of the preceding twelve months, in the face of a reduction of nearly twenty-seven millions in the total outstanding circulation within the year, and of fifty-six millions and a half in the two years. In proportion-to the circulation, the redemptions were greater than those of every other year, excepting the two from Juue 30, 1884, to June 30,. 1886, since 1879. The increase, which began to be felt in December and was steadily kept up du,ring the remainder of the year, beiug specially noticeable in May and June, came from the city of Kew York, for checks^ 23 TREASURER. on the Assistant Treasurer and silver certificates of the denominations of one and two dollars. As compared with the preceding year there was no other change worthy of notice in the receipts from xMerent localities or in the character ofthe returns asked for. The notes assorted and charged to the 5 per cent, redemption fund amounted to $43,379,185. Notes fit for circulation, of the value of $17,453,780, were returned to the banks, and notes unfit for circulation, of 'the value of $25,843,765, were delivered to the Comptroller of the Currency for destruction. The redemptions from this fund were less than half of the total redemptions, and less, both in amount and proportion to the outstanding circulation, than those for any previous year. The falling oif is due to the increase of the fund for the retirement of circulation in a greater degree than to the decrease in the volume of notes outstanding. The redemptions from the latter fund amounted to' $50,163,957.45, an increase .of nearly $13,000,000 over the year before, and only $8,000,000 less than double the average for the five years before.. ' This fund, by its growth and fluctuations, excited much concern during the year, not only in the Treasury Department, but also in Congress and throughout the country. After having slowly increased during four vears after June 30, 1881, from $33,14li,858.85 to $38,596,332.10, it rapidly rose the next year to $60,248,705.85, and to $97,992,918.10 by June 30, 1887. At the close of l3usiness on the 8th of July following, it stood at $107,827,754.60, the highest point it has ever reached. Then after declining slowly to $102,265,787.60 by the end of Septeinber, it showed little change until the latter part of January, when there began a slow but steady decrease. The following table shows the net deposits, the redemptions, and the balance in the Treasury for each nionth of the fiscal year: Month. 1887-July August ... September October ... , November December. 1888—January .. Febmary . March .'... April Ma.v June Total.... . Deposits. Redemptions. Balance. ;10,905, 851.00 1,116, 516. 00 1, 316, 854. 50 2, 446, 276.15 3, 002, 090. 26 4, 595, 853. 64 3, 790, 728.05 2, 469, 790. 00 3, 343, 240. 00 2, 876, 739.40 4, 643, 109. 25 3, 616, 835. 75 $2, 942,574. 50 $105, 956,194. 60 3,121, 204.00 103, 951, 505. 60 3, 002,572. 50 102, 265,787.60 1,930, 504.50 102, 781, 559. 25 101, 450, 594. 91 4, 333,054.60 102, 534,767.50, 3,511, 681.05 741. 75 101, 291, 753. 80 5, 033, 5, 623,001. 60 98, 138, 542. 20 4, 700,863.90 96, 780, 918.30 4, 804,934.25 94, 8.52, 723. 45 5, 660,239. 80 93, 835, 592. 90 5, 499,585. 00 91, 962, 843. 65 44,123,883.00 60,163,957.45 Ofthe total deposits, $174,250 on account of banks that have failed, the net sum of $19,760,511 for the reduction of circulation under the act of June 20,1874, and $5,375,325 of the total on account of banks in liquidation, including $4,782,990 for reductions of circulation under section 6 of the act of July 12, 1882, in all $25,310,086, represented contractions of currency, there being no corresponding issue of anyidnd of money. These deposits were made chiefly, in consequence of the operations of the Treasury in the redemption and purchase of bonds held to secure circulation. The remainder, amounting to $18,813,797, was deposited under the requirements of section 6 of the act of 1882, for the retirement of circulation issued under expired charters, and did not aflect the total volume of currency, as new circulating notes were issued to the depositing banks immediately on the receipt of the deposits. 24 REPORT ON THE FINANCES. The table below sho^ws the amounts deposited each month of the year for the retirement of the notes of banks in voluntary liquidation or in the hands of receivers, for the reduction of the circulation of banks in active existence, and for the retirement of the notes issued prior to the extension of the charters of the banks, and the reissue of new notes. The deposits under the latter head in former years were inconsiderable, so that all the deposits before June 30, 1887, may be said to have been made for the retirement or reduction of circulation without reissue. Month. 1887—July , August Septeniber , October — November., December.. 1888—January February.. March April May June Total F o r retirement. F o r reduction. For retirement and reissue. $192,395.00 $10, 69.3.456. 00 29, 490. CO 650, 700. 00 50, 000. 00 535, 325. 00 10,150. 00 1, 240,810. 00 11,700.00 1, 632,050. 00 77, 750.00 2, 638,350. 00 75, 580. 00 1, 629,100. 00 21, 420. 00 722, 040. 00 54, 830. 00 460, 310. CO 65, 550. 00 450, 710. CO 21, 960.00 2, 092,900.00 155, 760. 00 1, 797,750. 00 766, 585. 00 24, 543, 501. 00 .$20, 000. 00 436, 325. CO 731,529.50 195, 316.15 3.58.340.26 879, 753.64 086, 048. 05 726, 330. 00 828,100. 00 360,479.40 528, 249. 25 663, 325. 75 18, 813, 797. 00 The fluctuations in the aggregate fund were produced, therefore, by two distinct causes, whose probable effects could be foreseen with reasonable certainty. As the redemption of 3 per cent, bonds was practically completed in July, when the fund reached the highest point, and as the deposits required by the act of 1882 were less after January than the probable redemptions from the funds, and would become unimportant after June, it was expected in the middle of the fiscal year that the balance on deposit would decline gradually during the next six months and then would fall off rapidly, unless unforeseen causes should come into operation meanwhile. This expectation has been fully justified by events, as has been shown, and the fund has ceased to be a cause of anxiety. However, unless the contraction of the bonded debt should be stopped, or unless some other basis should be provided for the circulation of national banks, it is certain that the retirement of bahk notes will continue, and it may be expected that the Treasury will always hold a considerable sum for that purpose. In the appendix will be found tabular statements of the operations of the Treasury in the redemption of national-bank notes, showing by fiscal years, from the beginning, the lawful money received on the several accounts, and the manner in which it has been applied, and also the amounts of notes received and redeemed and the disposition made of them. These tables will be found to differ at times from those beretofore given, in the amount of the deposits. The tables in former reports included under this head the sums of money only that were received in the first instance for the particular account, and excluded other sums properly applied from moneys already in the Treasury but originally received for another account and so re.ported. These transfers, which are made necessary by various causes, do not affect the total deposits on all the redemption accounts, or the aggregate balance on hand, and therefore are not within the scope of the tables before given, which deal with deposits, redemptions, and balances only, without undertaking to show how the balances in the several accounts are produced.^ In some cases, too, where deposits have been refunded the ' TREASURER. , 25 a,mount was deducted in the old tables from the total deposits or in<}luded in the redemptions. The statements now given exhibit all the transactions as they are recorded in the books, and show what has not been attempted before—how the vast sums that have been received into the Treasury for the redemption of national-bank notes are accounted for. The expenses incurred during the year and paid out of the 5 per cent, fund amounted to $141,141,48. Of this sum the proportionate share for $89,685,839.50 redeemed will be charged to the accounts of the banks at the rate of $h52'^^^Q per $1,000 on the amounts of the notes redeemed for each,' and the share for $2,989,280 will be reimbursed from the fund arising under the provisions of section 8 of the act of July 12,1882, from assessments on banks making deposits of lawful money for the retirement of their circulation in full. The assessments made during the year under that section amounted to $1,470.01. The charged against the fund for the expenses of the fiscal year 1887 was $5,256.48, leaving a balance of $15,927.61 in the Treasury on June 30, 1888. • • FISCAL YEAR ENDING- J U N E 3 0 , ,1889. A statement of the assets and liabilities of the Treasury on September 30,1888, prepared from the reports of the several offices for that day, is given in the appendix. The tables showing the amounts of gold, iSilver, United States notes, and certificates of deposit in the Treasury. and in circulation at the end of each month are brought down to the ^ame date. These fully exhibit the condition of the Treasury, and also, by comparison with other dates, the changes that have taken place. The net reduction of the public debt dtiring the months of July, August, and September, exclusive ot certificates of deposit, was $30,560,637.35, resulting from the redemption of $77,797.35 in notes and <;alled bonds, the purchase of $20,617,850 in 4 per cents and $9,867,050 in 4J per cents, and tbe conversion of $2,060 interest on 4 per cent, refunding certificates into bonds. The premiums paid on the bonds purchased amounted to $5,869,010.86 on the 4 per cents and $670,925.86 on the 4^ per cents. The amount of gold certificates in circulation, as shown by the assets and liabilities, increased $15,372,76Q, and the .amount of silver certificates $18,198,962. The legal-tender certificates in circulation decreased $1,895,000. The national-bank notes presented for redemption during the quarter amounted to $21,415,035.03, as against $16,925,918.74 in the same period last year. The deposits in the fund for the reduction and retirement of national-bank notes amounted to $6,071,295, and the redemptions to $10,716,407. The balance of the fund in the Treasury decreased in July to $90,029,866.65, in August to $87,819,564.65, and in September to $87,307,731.65. The decrease in the last two months was small, owing to the large deposits made in consequence of the purchase of bonds. The limit of $3,000,000, fixed by law as the maximum amount that may be deposited during any month, was reached at the end of September and again in the second week of October. With the present rate of redemption the balance in the Treasury would now continue to grow less, even though the full amount of $3,000,000 were deposited €ach month. V^ORK OF THE O F F I C E . • The volume of business transacted during the fiscal year was greater than that for the year before. From the statement in the appendix showing the amount of the receipts and disbursements on all accounts, it will 26 REPORT ON THE FINANCES. be seen that this office received $459,8,87,716 and paid out $264,993,970. These figures do not include the national bank notes redeemed and delivered on account of the 5 per cent. fund. The receipts and payments at all the Treasury offices, which make up t h e total movement of moneys, reach on both sides the astonishing aggregate of between twelve and thirteen hundred million dollars, having increased from about nine hundred million the previous year. The receipts at this office that year were $213,428,505.80, and the payments $152,475,064.48. The labor required in these vast operations has beea promptly performed, and all the .work of the office well kept up. In a good many particulars the methods have been simplified and improved. The Treasurer gratefully acknowledges the ability and fidelity of the officers and employes associated with himo I have the honor to be, very respectfully, your obedient servant, J A M E S W. H Y A T T , Treasurer of the United StateSo Hon.-CHARLES S . F A I R C H I L D , Secretary of the Treasury, 21 TREASURER. APPENDIX. No. 1.—RECEIPTS AND E X P E N D I T U R E S F O R T H E F I S C A L Y E A R 1888, AS SHOWN B T WARRANTS ISSUED. Account. Receipts. Customs Internalrevenue ... $219, 091,173. 63 124, 296, 871. 98 ] 1,202 017.23 24, 676, Oil. 92 Interior civil Treasury proper Judiciary W^ar Department iNTavy Department ... ... Interior Department, pensions Interest on tbe public debt Premium on the public debt Total, net 1. Expenditures. Repayments from u n e x pended appropriations. Counterc r e d i t s t o apr propriations. $514, 276. 08 22, 946. 52 $67, 077. 9G> 22. 79 7^859,468.41 73, 869. 81 341575, 466.33 911, 972, 96 12, 660. 03 1, .593, 461. 40 §92. 80 644, 864. 47 161,133. 82 4] 109, 987.10 38; 522. 436.11 1, 206, 673. 90 417, 349. 26 16; 926, 437. 65 136,139. SO 61 249, 307. 87 80, 288, 508. 77 3, 765,100. 65 184, 017. 81 44,715,.C07.47 8| 270, 8i2. 46 8, 7 n . 04 123 ]29. 2535, 342. 76 $20j 359, 455.15 3i 809, 557. 94 379, 266, 074. 76 267, 924, 801.13 85,160,000.00 105, 896, 000. 00 64; 623, 667. 00 21; 947,378. 00 SO, 260, 000. 00 24j 675, 000. 00 1 37,200.00 63; 662, 000. uO 24 3*^0 55 ; 322.50 1, 770. 00 : 3, 350. 00 : 6, 300. 00 23; 671, 350. 00 150. CO ' 34,350.-00 4, 500. 00 27, 792, 950. 00 ; 7, 850. 00 : 1, 500. 00 26,350.00 97, 650. 00 i 3,2.50.00 83,100. CO 23, 056, 250. 00 , 11,300.00 55, 882.72 211 580. 53-. 6,149, 343. 0.7 72,490. 57 177". 10 102, 652. 00^ The public debt Grold certificates Silver certificates Certificates of deposit, act of June 8, 1872 . ... RefnndincT certificates TJnited States notes Fractional currency Old demand notes One and two year notes of 1863 Compound interest notes 7-30's of 1861, 1864, and 1865 Funded loan of 1907 Oregon war debt Loan of July and August, 1861 Loan of 1863 Funded loan of 1891 10-40's of 1864 5-20's of 1865 Consols of 1865 Consols of .1867 Consols of 1868 Funded loan of 1881 Loan of July 12, 1882 • 5-20'sof 1862 Total B a l a n c e J u n e 30, 1887 B a l a n c e J u n e 30, 1888 Aggrefj^ate 63,652, 000. 00 48,150. 00 664, 282, 224. 76 484, 749, 789. 46 517, 684, 559.18 1,149, 032, 014. 21 1,149, 032, 014.21 500 00' 7, 406, 732. 94 6, 826, 909. 79i> 7, 406, 732. 94 6, 826, 909. 7S^ . 6311 347,455. 03 '28 REPORT ON T H E FINANCES. No. 2.—COMPARATIVE STATEMENT OF BALANCES I N T H E T R E A S U R Y AT THE OF TPIE F I S C A L YEARS 1887 AND CLOSE 1888. B a l a n c e a s sliown b y l a s t r e p o r t , J u n e 30, 1887 . S^Tet r e v e n u e 1888 .• :... "Net e x p e n d i t u r e s 1888 • $484,749, 789.45 ;379, 266, 074. 76 267, 924, 80L 13 E x c e s s of r e v e n u e o v e r e x p e n d i t u r e s . 111,341,273.63 596,091,063.08 Public debt. Redemptions d u r i n g fiscal year. Issues during fiscal y e a r . E x c e s s of issues over re- demptions. $28, 072, 592. 50 B o n d s a n d securities. F u n d e d loan of 1907.. $48,150.00 23,671,350.00 S i l v e r certificates . . . . 105, 896, 000. 00 21, 947, 378. 00 <G-old certificates . . . . 85,160, 000. 00 64, 623, 667. 00 O e r t i f i c a t e s of deposit, a c t J u n e 8,1872 . SO, 260, 000. 00 24,675,000.00 U n i t e d S t a t e s n o t e s . . 63, 652, 000. 00 63, 652, 000. 00 L o a n of J u l y 12,1882 . 23, 056, 250, 00 R e f u n d i n g certificates 37, 200. 00 ffi'ractional c u r r e n c y 24, .320. 55 Total 285, 016,150. 00 - N e t e x c e s s of i s s u e s o v e r r e d e n i p t i o n s .. 249, 759, 758. 05 E x c e s s of redemptions over issues. $28, 072, 592. 50 23, 623, 200. 00 $83, 948, 622.00 20, 536, 333. CO 5, 585, 000. 00 23,056,250.00 37,200.00 24, 320. 55 110, 069, 955. 00 74, 813, 563. 05 35, 256, 391. 95 631, 347, 455. 03 B a l a n c e J u n e 30,1888 -No. 3 . — E X P L A N A T O R Y STATEMENT OF THE D I F F E R E N C E S B E T W E E N T H E BALANCE I N THE T R E A S U R Y J U N E 30, 1888, AS SHOWN B Y THE P R E C E D I N G STATEMENTS - AND THE BOOKS OF T H E R E G I S T E R , AND THE C A S H AS SHOWN B Y THE P U B L I C D E B T STATEMENT P U B L I S H E D J U N E 30, 1888. T h e c a s b in tlie T r e a s u r y , as s h o w n b y t b e P u b l i c D e b t S t a t e m e n t , is m a d e u p from t h e r e t u r n s re)'Reived on t h e d a y on w h i c h t h e s t a t e m e n t is p u b l i s h e d . T h e a n i o u n t on J u n e SO, 1888, Avas > $629,854,089.85 T h e r e c e i p t s p r i o r t o t b e close of t h e y e a r , r e p o r t e d s u b s e q u e n t l y , w e r e a s follows: . B y National-bank depositaries $452,572.00. 'Certificates of deposit, a c t of J u n e 8, 1872, i s s u e d s u b s e q u e n t t o t h e d a t e s of t h e r e t u r n s u s e d 250, 000. 00 CTnavailable balances n o t i n c l u d e d i n t h e c a s h r e p o r t e d in t h e D e b t S t a t e ment 1,396,879.50 Total.. 2,099,45L50 T h i s t o t a l i s r e d u c e d b y t h e r e c e i p t s n o t c o v e r e d i n t o t h e T r e a s u r y , on < F u s e 3 0 , 1888, v i z : Assistant Treasurer United States: Baltimore,Md $20,067.43 N e w Y o r k , I^. Y ' .~ 129,-603.46 Philadelphia, Pa...-. 130,846.12 Boston, M a s s ; 100,826. 61 C i n c i n n a t i , Ohio 1, 326. 29 •Chicago,Ill 68,637.23 S a i n t Louis, M o 8, 337.21 N e w Orleans, L a . 31, 517.99 San F r a n c i s c o , Cal 25,743.25 Treasurer U . S . , Washington,, D. C 17,404.85 National-bank depositaries 71, 775. 88 . Leaving j Balance Treasurer's General Account A m o u n t on d e p o s i t w i t h t h e S t a t e s 1,493,365.18 631, 347,455. 03 - Making t h e total Treasury Balance T r e a s u r y B a l a n c e , J u n e 30, 1888, a s r e p o r t e d b y t h e R e g i s t e r 606,086.32 „ 28,101,' 644.91 659,449.099.94 . 659,449, 099.94 , No. 4.- -TOTAL AMOUNT O F R e c e i p t s a t office i n - T H E C L A S S I F I E D R E C E I P T S AND D I S B U R S E M E N T S ON ACCOUNT OF T R A N S F E R S , R E V E N U E S , R E D E M P T I O N S , AND E X C H A N G E S , . BY T R E A S U R Y O F F I C E S , F O R T H E FISCAL Y E A R E N D I N G J U N E 30, 1888." National bank notes. United States notes. P.ct. P.ct. $55, 245, 685 12.01$116. 817, i [25.41 , 239, 492 4 . 5 14, 528, 640|152. 7 ,218,905 0.91 57, 430,486 12.0 2, 245,149| 3.4 34, 801, 803 152. 4 3, 482, 5.1 J 9, 989, 646 29.6 2, 507, 3901 9.1 10, 125, 070 36.9 2, 835, 840 5.3| 14, 688, 901 i27; 6 2,216,890 6.8 11,414,442 35. 0 1,137, 160 3.7 10, 491, 026 34.0 1,186, 661 4.0 89, 375 0.3 Washington... Baltimore New York Philadelphia .. Boston Cincinnati Chicago S a i n t Louis . . . N e w Orleans .. San Francisco. Total 75, 218, 585 D i s b u r s e m e n t s a t office in— Washington 1 Baltimore New Toik Philadelphia Boston Cincinnati Chicago Saint Louis N e w Orleans . . . . . . . . . . . . . . . . . . ,San F r a n c i s c o |1,240,0J4 +4, 212, OijO J2, 249, OOOi +3, 448, 000! +2, 492, OOOt |2, 827, 000 +2, 224, 000] t l , 141, 000 +80, 000 Total .. Redemptions. 19. 933, 024| 50, 682, 591 Total 70, 69.5. 615 N e t i n c r e a s e of a m o u n t on h a n d . 4, 622, 970 N e t d e c r e a s e of a m o u n t on h a n d . Gold coin. $343, 343, 34, 667, 6, 930, 4,134, 2,155, 5, 909, 719, 2, 793, 22, 988, P.ct P.ct. 0.1 $148, 305, 767 32. 2 1, 185, 370 4.3 L3 7.3] 318, 241, 670 66.7 4, 77.3, 060 7.2 10. 4| 6.1 19, 897, 650 !29. 4 1, 775, 91C 6.5 7.8| 9, 061,160 17. 0[ 11.1 1, 151, 400 2:21 895, 430 2.91 9.0 148, 500| 0.5 78.1 S i l v e r certifi- S t a n d a r d silver] cates. dollars. P. ct. 129,147, 139 28. ll ^$8, 327, 7, 367, 64i;26.8| 1,771, 43, 528, 4681 9.1 12,168, 10,164, 60415.31 4, 844, 14, 444, 310 21.3 4, 379, 6, 781, 927:24. 7 3,021, 14, 390, 12527.0 4, 6L5, 11, 808, •771 36. 3 3,910, 10, 601, 834,34: 41 4, 083, 14, 193 3, 717, 291, 474, 484 '22. 9 SO, 985, 783 0.4 505, 436, 917| 97, 205, 548 36.7 13, 625, 977 54.1| 54,921,9181 11.7 35,212,135 55.51 19, 437, 663 29. 7 9, 495, 263 41 14, 099,1521 30. 81 11, 650, .595 1 10,543,756 [41.1 1,176, 406 3.7 117, 003 81, 329, 210 30, 50,1701 0.2| 1, 235, 050 4, 22, 710, 9441 4 330, 895, 100 |70. 51 7, 949,113 12.51 4, 733, 4301 7.5| 4, 566, 595j 7.0 21, 637, 440 33.0; 1, 356, 564 6.2 1, 397, 250 6.41 4, 510, 9451 9.8 6, 106,"510 13, 2, 697, 700 8.4 1, 283, 200 4.0 27 309 984 9.0 * 1,288,660 "5.0 20, 759; 580 65.4 297,150 j 0. 83, 052, 053'31.3 7, 763, 4S4i30. S 9.0] 42, 183, 16.1 10,2.i8, 22.1 14, 439, 29. 6| 6, 462, 3L0 14, 236, 36. 7| 11,858, 4 1.1 10, 547, 7, 267, 368, 413 24,106, 071 39, 705, 424 11, 033,182 514, 826, 727 9, 390, 810 P.ct. P.ct. 1. 8|$1, 690, 476 0.4 6.4 1,100,701 4.01 2.5| 7, 074, 592] •1.51 7.3 2, 502, 3. 6.5 1, 390, 0481 2.1 11.0 1, 074, 347 3.9 8.5 1, 835. 863 3.5| 12.0 1, 333, 984 4.1 859, 731 2.8| 13.2 12.7 1, 228, 614 4.2 1, 805, 824 0.7, 1,513,751 6.0| 11, 459, 738] 2.4' 2, 281, 6731 3.6 3,925,413 6.0, 2, 3.57, 327|10.8 4, 847, 613 10.6 3, 471, 222| 10.8 64,872 0.3; §7, 977, 991 25.2, 39, 705, 424 67, 028, 598 13, 957,185 Fractional silver a n d mixed. 19. 5 50, 738, 606 4.0 20,091,175 267, 368, 413 25. 6 67, 028, 598 0.4 460, 203, 060 !43.0 200,789,719 64, 623, 667 21, 947, 378 * I n c l u d i n g 13,500,000 t r a n s f e r r e d from m i n t , t I n c l u d i n g $500,000 t r a n s f e r r e d frora m i n t . I T r a n s f e r r e d t o W a s h i n g t o n for r e d e m p t i o n , Gold certificates. 222, 737, 097 25,511, 9,15| 1,469,809 0.6 993, 630 4, 7,663,938' L }, 073, 2951 1,449,030 798,1051 2, 054, 301 4.5| 1, 307, 606 4.0 885,960 3.5 1, 526, 943 ;. 8 21, 222, 617 2. Ol Trade-dollars. $9, 15, 63, 125, 11, 31, 0, 4, 65, 0.1 Total. $459,887,716 27, 551,804 477, 393, 599 66,388,448 67, 729, 054 27, 473,139 53, 243, 67432, 560, 327 30, 862, 624 29,437, 850 334, 673 1, 272, 528, 235 1114,523 1146.160 ii 195, 533 |il88,r'"" 1139, 0961 11241,150 1136, 080 1117,515 111,871 11161, 263| 264, 993, 970 26, 468, 246 474, 242, 888 65, 925, 670 68, 942, 919 24, 599, 790 48, 717, 079 34, 610, 674 26,783, 543 31, 987, 299 941, 223 H PO > zn PO H • PO 1, 067, 172, 078 137, 253, 636 1,204,425,714 1,131, 442 606, 550 . § I n c l u d i n g $5,000,000 t r a n s f e r r e d t o m i n t , lj T r a n s f e r r e d t o m i n t . to 30 R E P O R T ON T H E FINANCES. No. 5.—RECEIPTS AND E X P E N D I T U R E S ON ACCOUNT O F T H E POST-OFFICE DEPARTM E N T FOR T H E F I S C A L YEAR 1888, AS SHOWN BY WARRANTS P A I D . Receipts covered into the Treasury....' Receipts by postmasters - N $26, 038, 305. 52 29, 351,899. 92 Total net receipts : 55.390, 205.44 Balance due the United States June 30, 1887 6,598,912.04 Total 61,989,117.48 Expenditures by Treasurer on warrants lExpenditures by postmasters Total expenditures Balance due the United States J u n e SO, 1888 Total 26, 542, 398.14 29, 351, 899. 92 55,894,298.06 6, 094, 819.42 61,989,117.48 .'. NOTE,—Of the receipts covered into the Treasury the sum of $3,160, 820.47 was appropriated by acts of Congress to make good deficiencies in the postal revenues. No. 6—SEMI-ANNUAL D U T Y ASSESSED UPON AND COLLECTED FROM NATIONAL BANKS B Y T H E T R E A S U R E R OF T H E U N I T E D STATES F O R T H E FISCAL YEARS FROM 1864 to 1888, INCLUSIVE. Fiscal yea|. 1864 1865 1866 1867..-. 1868 . 1869 1870 1871 1872 1873 1874 1875 . 1876 : 1877 1878 .. 1879 1880 1881 1882 . 1883 1884 1S85 1886 1887 1888 Total O n circulation. O n deposits. i . . . . . . ) • , • .-..: No. 7.—BALANCES $95,911. 87 $53,193. 32 733, 247. 59 1, 087, 530. 86 2,106, 785. 30 2, 633,102. 77 2, 868, 636. 78 • 2,650,180.09 2, 946, 343. 07 2, 564,143.44 2, 957, 416.73 2, 614, 653. 58 2, 949, 744.13 2, 614, 767. 61 2, 987, 021. 69 2, 802, 840. 85 3,193, 570. 03 3,120, 984.37 3,353,186.13 3,196, 569. 29 3, 404, 483.11 3, 209, 967.72 3, 283,450,89 3, 514,265. 39 3, 091, 795. 76 3, 505, 129. 64 2, 900, 957,63 3, 451, 965. 38 2, 948, 047. 08 3,273,111.74 3, 009, 647.16 3, 309, 668. 90 3,153, 635. 63 4, 058, 710. 61 3,121, 374. 33 4, 940, 945.12 3,190, 981. 98 6,521,927.47 3,132, 006. 73 2, 773, 790.46 3, 024, 668. 24 2, 794, 584.01 2, 592, 021. 33 2, 044, 922. 75 1,616,127.53 67, 457, 848. 83 60,940,067.16 O n capital. Total, $18, 432, 07 133, 251.15 406, 947. 74 321, 881. 36 306, 781. 67 312,918.68 375, 962. 26 385, 292.13 389, 366. 27 454, 891.51 469, 048. 02 507, 417. 76 632, 296.16 660,784. 90 560, 296. 83 '401, 920. 61 379, 424.19 431,233.10 437, 774. 90 269, 976.43 # $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, C8H, 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 2, 794, 584. 01 2.592,021.33 2, 044, 922. 75 1, 616,127. 53 7, 855, 887. 74- 136, 253, 803. 73 STANDING TO T H E CREDIT OF D I S B U R S I N G AGENTS OF T H E UNITED STATES J U N E 30, 1888. OFFICERS Office in which deposited. Treasury United States, Washington, D.C Sub-treasury United States, Baltioiore, Md Sub-treasury United States, Boston, Mass Sub-treasury United States, Chicago, 111 Sub-treasury United States, Cincinnati, Ohio... Sub-treasury United States, New Orleans, La.. Sub-treasury United States, New York, N. Y . . Sub-treasury United States, Philadelphia, Pa .. Sub-treasury United States, Saint Louis, M o . . . Sub-treasury United States, San Francisco, Cal National-bank depositaries Total ,, 708, 726. 93 221, 389. 64 930, 300. 36 808, 299. 25 284,038.91 518,712.28 ., 551, 945. 59 795,616.39 753, 748. 97 733, 361.11 :, 693, 259. 78 21, 999, 399. 21 NoTE;—Balances to the credit of mints and assay-offices for the purchase of bullion are not included in this statement. 31 TEEASUREE. No. 8.—ASSETS AND L I A B I L I T I E S OF THE T R E A S U R Y OF T H E U N I T E D STATES, J U N E 30^ 1887. • Assets. GOLD—Coin ... Bullion .. .. ....... Liabilities. Balances. $192, 598, 626. 85 86, 381,026. 76 $277, 979, 653. 61 Certificates L e s s a m o u n t on h a n d Netgold SILVER,—Standard dollars Bullion 121, 486, 817. 00 30, 293, 310. 00 211, 491,527. 00 4, 045, 091. 29 $91,193, 507.00 ' ^ $186, 786,146.61 215, 536, 618. 29 145, 543,150. 00 Certificates . 3,215,200.00 L e s s a m o u n t on h a n d . . 142, 327, 950. 00 N e t silver 73, 208, 668.29 29, 625, 408.29 U N I T E D STATES NOTES Certificates • •' L e s s a m o u n t on h a n d . - 9,140, 000.00 3.10, 000. 00 8, 830, 000. 00 N e t United States notes T R A D E DOLLARS REDEEMED N A T I O N A L - B A N K NOTES D E P O S I T S IN NATIONAL-BANK D E P O S I TARIES Totals Public debt and interest: I n t e r e s t d u e and u n p a i d Accrued interest M a t u r e d d e b t -'. 6, 966, 976. 68 25b, 032. 00 20, 755, 408.29 6, 966, 976. 68 250, 032.00 23, 316, 877. 91 23, 316, 877. 91 553, 675, 566.78 242, 351,457.00 311,324,109.78 ....... Called b o n d s , n o t m a t u r e d , a n d bala n c e of i n t e r e s t D e b t bearing no interest I n t e r e s t on "Pacific R a i l r o a d b o n d s 1, 753, 666. 8, 626, 111. 6,115,165. 190, 753. 76 10 26 87 19, 716, 500. 00 2, 297.07 33,119. 96 A c c r u e d i n t e r e s t on Pacific R a i l r o a d 1, 938, 705. 36 38, 376, 319. 38 Fractional currency redeemed I n t e r e s t checks and coupons p a i d . . Totals R e s e r v e for r e d e m p t i o n of U n i t e d S t a t e s n o t e s a c t s of 1875 a n d 1882 F u n d for r e d e m p t i o n of n o t e s of n a t i o n a l b a n k s "failed," " in liquidation," and "reducing circulation" . . . . . .. F u n d for r e d e m p t i o n of n a t i o n a l goldbank notes „ JFive p e r c e n t , f u n d for r e d e m p t i o n of national-bank notes - . 2, 297. 07 5, 560, 703. 69 100, 000, 000. 00 97, 909, 054.10 83, 864.00 8,113, 335. 33 N a t i o n a l - b a n k n o t e s i n p r o c e s s of redemption Post-Office D e p a r t m e n t a c c o u n t . . . . . . 6, 559, 255. 37 21, 613, 318. 55 D i s b u r s i n g officers' b a l a n c e s U n d i s t r i b u t e d a s s e t s of failed n a t i o n a l 788,18L85 banks ' C u r r e n c y a n d m i n o r coin r e d e m p t i o n ac720. 00 count ... F r a c t i o n a l s i l v e r coin r e d e m p t i o n ac1, 405. 00 count 981, 836.99 Redemption and exchange account' Treasurer's transfer checks and drafts 2,177, 221. 45 outstanding T r e a s u r e r U . S., a g e n t for p a y i n g i n t e r e s t 305, 426.14 on D . C. b o n d s I n t e r e s t on D . C. b o n d s p a i d Totals Balance -Assets not available: M i n o r coin F r a c t i o n a l s i l v e r coin • 5,563,000.76 569, 238, 667. 54 280, 727, 776.38 2,165,539.41 106,106, 253. 43 2,195.35 561, 406, 302. 30 519, 261, 395.16 42,144,907.14 32, 427, 365. 35 115j 472. 94 „.."... 26, 963, 998. 98 27, 079,471. 92 Aggregate 588,485,774. 22 519, 261, 395.16 27, 079, 471.92 69, 224,379.06 32 REPORT ON T H E FINANCES. N O . 9.—ASSETS AND L I A B I L I T I E S OF T H E T R E A S U R Y OF T H E U N I T E D STATES, J U N K 30, 1888.' Assets. GOLD.—Coin Bullion Liabilities. Balances. $204,449,750.75 110, 255, 071.71 $314,704j 822. 46 142, 023,150. 00 Certificates L e s s a m o u n t on h a n d . . . 20,928, 500. 00 .$121, 094,650. 00 Netgold S I L V E R , — S t a n d a r d doUars Bullion . ... $193,610,172.46244,181, 394. 00 3, 970, 640. 33 248,152, 034. 33 229,491,772,00 Certificates L e s s a m o u n t on h a n d . . 28, 732,115, 00 200,759, 657.00 N e t silver UNITED 47,392,377.33= 53, 345,975.89 S T A T E S NOTES L e s s a m o u n t on h a n d . . 14, 915, 000. 00 250, 000, 00 14,665,000. 00 N e t United States notes.. TRADE-DOLLAR BULLION NATIONAL-BANK NOTES D E P O S I T S IN NATIONAL-BANK TARIES 38, 680,975. 8S»' 6, 487, 029. 02 285,16L0O 58, 712, 511.11 58,712, 511.11 DEPOSI- 681,687, 533. 81 336,519, 307.00 345,168, 226. 81 Totals P u b l i c debt and interest: Interest due and unpaid Accrued interest 1 6, 487,029. 02 285,161. 00 1, 485, 029. 03 8,186,430.93 2, 49.,>, 095, 26 168, 267. 86 1,357.92 .. I n t e r e s t on m a t u r e d d e b t D e b t bearing no interest I n t e r e s t on'Pacific railroad bonds d u e and u n p a i d / . A c c r u e d i n t e r e s t on Pacific r a i l r o a d . 14, 039.96 1, 938, 705. 36 14,289, 926. 32 Fractional currency redeemed United States bonds and i n t e r e s t . . . I n t e r e s t checks and coupons p a i d . . 1, 357. 92 28,160. 00 172,629.32 202,147."'.24 ' Totals 681, 889, 681.05 350, 809, 233.32 R e s e r v e for r e d e m p t i o n of U . S. n o t e s , a c r s f;f' <fi75aiid 1882 F u n d foi- r e d e m p t i o n of n o t e s of n a t i o n a l banks "failed," " i n liquidation," and 100, 000, 000.00 91, 952, 843.65 F i v e p e r cent, fund for r e d e m p t i o n of national-bank notes 6, 976, 727. 62 N a t i o n a l - b a n k n o t e s i n p r o c e s s of redemption Pofst Office D e p a r t m e n t a c c o u n t . . . D i s b u r s i n g officers' b a l a n c e s U n d i s t r i b u t e d a.ssets of failed n a t i o n a l 6, 051, 607. 25 . 21, 999, 399. 21 C u r r e n c y a n d m i n o r coin r e d e m p t i o n accon u t . . . F r a c t i o n a l silver coin r e d e m p t i o n a c c o u n t R e d e m p t i o n and e x c h a n g e a c c o u n t Treasurer's transfer checks aud drafts outstanding . . . . . . ... T r e a s u r e r U. S., a g e n t for p a y i n g i n t e r e s t on D . C. b o n d s 6, 770, 380. 08 98, 929, 571. 27 600.00 2, 740. 00 2,616,183.31 2, 576, 562, 34 251,179. 33 'i,'876.*30 Intere.st on D . C. b o n d s p a i d Totals Balance Assets not available: M i n o r coin F r a c t i o n a l s i l v e r coin . li 777, 001.79 688, 661, 937. 43 585,014, 677. 82 103,647, 259. t \ 112, 920, 73 26, 044, 062,35 35, 275,873.23 26,156,983. 08 Aggregate 26,156, 983. 08 ,714, 818, 020. 51 585, 014, 677. 82| 129, 804, 242. 6S^ 33 TREASURER. No. 10.- -AssETs AND L I A B I L I T I E S OF T H E T R E A S U R Y OF T H E U N I T E D . STATES, S E P T E M B E R 30.. - 1888, Assets. Liabilities. Balances. $224, 382, 991.70 107, 953, 236. 61 GOLD.—Coin Bullion $332,336, 228.31 L e s s a m o u n t on h a n d . ' 160, 354, 600. CO 23, 887,190.00 $136, 467, 410. 00 N e t gold SiLVER.-^Standard dollars Bullion - - . . i . ... $195, 868, 818. 31 248, 776,160. CO 4, 296, 575.46 253, 072, 735, 46 Certificates ! 228, 381, 476.00 9, 422, 857. 00 Less amounton hand 218,958, 619.00 N e t silver 34,114,116.46 54, 475, 819, 56 U N I T E D S T A T E S NOTES Certificates Less a m o u n t on h a n d 13, 420, 000. CO 650, 000. 00 12, 770. 000. 00 N e t United States notes Totals P u b l i c debt and interest: I n t e r e s t due and unpaid Accrued interest . -Matured debt . .. ..... I n t e r e s t on m a t u r e d d e b t D e b t b e a r i n g no i n t e r e s t I n t e r e s t on Pacific R a i l r o a d bonds due and unpaid A c c r u e d i n t e r e s t on Pacific Railroad bonds 41, 705, 819.56 6,322,108.27 187, 688.00 6, 322,108.27 187, 688. 00 T R A D E - D O L L A R BULLION NATIONAL-BANK NOTES D E P O S I T S IN NATIONAL-BANK DEPOSITARIES 56,959,713.97 703, 354,293. 57 56, 959, 713. 9T 368, ,196, 029. 00 335,158, 264. 57 1,630,745.72 7, 838, 271. 60 2, 419, 625, 26 163, 720, 55 1, 809. 69 16,019.96 969, 352. 68 13, 039, 545.46 Fractional currency redeemed.. U n i t e d S t a t e s b o n d s a n d interest . . . . . . I n t e r e s t c h e c k s a n d coui)ons paid t 1, 809. 69 1, 839, 855.75 114,700.78 1, 956, 366.22 Totals . R e s e r v e for r e d e m p t i o n of U n i t e d S t a t e s n o t e s , a c t s of 1875 a n d 1882. F u n d for r e d e m p t i o n of n o t e s of nat i o n a l b » n k s " f a i l e d , " " i n liquidation," and " r e d u c i n g circulation",. F i v e p e r c e n t , fund for r e d e m p t i o n of natiomal-bank n o t e s 705, 310; 059. 79 381,235, 574.46 100, 000, 000.00 87, 307,731. 66 i 6, 706, 895.13 94, 014, 626. 78 National-b.ank n o t e s in p r o c e s s of r e d e m p t i o n Post-Office D e p a r t m e n t a c c o u n t D i s b u r s i n g officei'.s' b a l a n c e s U n d i s t r i b u t e d a s s e t s of failed national b a n k s C u r r e n c y a n d m i n o r coin r e d e m p tion a c c o u n t F r a c t i o n a l silver coin r e d e m p t i o n ac-. count *. Redemption and excbange account.. Treasurer's transfer checks and drafts outstanding T r e a s u r e r U . S . , a g e n t for p a y i n g int e r e s t on D . C b o n d s • 5, 829, 658. 33 4, 526, 313. 08 26, 779, 005.31 1, 678, 065.73 200.00 5, 230. 00 338, 420. 27 4, 576, 250.13 240,070.74 38,143, 555. 26 I n t e r e s t on D . C. b o n d s p a i d . . . Totals Balance Assets not available: MinoT'coin F r a c t i o n a l silver coin. • A a:s:ree:ate H. Ex. 2 5,123. 80 711,145,; 44 L 92 613, 393, 756. 50 97,751,685.42 107, 551. 08 24, 785,143. 23 < 24,892,694.31 736, 038,136. 23 24, 892, 694.81 613, 393, 756. 50 122, 644, 379.73 34 R E P O R T ON T H E FINANCES. No. 11.—UNAVAILABLE F U N D S OF T H E G E N E R A L TREASURY AND OF T H E P O S T OFFICE DEPARTMENT. GENERAL TREASURY. On deposit with the following States under the act of June 23, 1836: Maine New Hampshire Vei-mont..,-•-.. Massachusetts Connecticut Rhodelsland NewYork Pennsylvania New Jersey Ohio Indiana Illinois Michigan Delaware Maryland Virginia North Carolina Sonth Carolina Georgia Alabama Louisiana Mississippi Tennessee Kentucky Missouri Arkansas \ , 1 .' i.. ....*. -. Total on deposit with the States Deficits, defaults, and failures: Sub-treasuries: Deficit, sub-treasury U. S., New York, N. Y., 1867, coun< terfeit7.30's Sub-treasury U. S., New York, N. Y., 1867 to 1888. Default, sub-treasury U. S., New Orleans, La., 1867, May &Whitaker Sub-treasury U. S., NewOrleans, La., 1867, May property ' Deflcit, sub-treasury U. S., New Orleans, La., 1885 $955,838.25 669, 086. 79 669,086.79 1,338,173. 58 764,670.60 382,335.30 4,014,520.71 2,867,514.78 764,670. 60 2,007,260.34 860,254.44 477,919.14 286,75L49 286,751.49 955,838.25 2,198,427.99 1,433,757.39 J, 051,422.09 1,051,422.09 669,086.79 477, 919.14 382, 335. SO 1,433,7.57.39 1,433, 757. 39 382,335.30 286,75L49 $28,101,644.©! 4,392.91 19,623.52 675,325.22 < 5,566.31 20, 959. 81 -^ Mints and assay-offices: . Deficits and defaults, branch mint U. S., San Francisco, Cal., 1857 to 1869 Default, branch mint U. S., Dahlonega, Ga., 1861..» Branch mint U. S., Charlotte, N. C , 1861 U. S. assay-office, Bois6 City, Idaho, 1885, N. H. Camp's account 413,557.96 27,9.50.03 32,000.00 National-bank depositaries: Failure, Venango National Bank of Franklin, Pa First National Bank of Selma, Ala 181, 377. 51 33,383.87 Depositories U. S.: Default, depository U. S., Galveston, Tex., 1861 Depository U. S., Baltimore, Md., 1866 Depository U. S., Pittsburgh, Pa., 1867 Deflcit, depository U. S., Santa F6, N . Mex., 1866, short in remittance '. Total deflcits, defaults, and failures.-. 11, 611.03 $725, 867. 77 485,119.02 214,76L38 778.66 547.50 2,126.11 249. 90 -^ Total general treasury 3,702.17 1,429,450.34 29,531,095.25 POST-OFFICE D E P A R T M E N T . Default, sub-treasury U. S., New Orleans, La., 1861 Depository'U. S., Savannah, Ga., 1861 Depository U. S., Galveston, Tex., 1861 .: Depository U. S., Little Rock, Ark., 1861 .. , Aggregate.. : : 31,164.44 205.76 '83.36 5, 823. 50 37,277.06 29,568,372.31 No. 12.—ASSETS AND LIABILITIES Washington. • Baltimore. O F THE N e w York. SEVERAL Philadelphia. O F F I C E S OF Boston. THE TREASURY, J U N E 30, 1868 . Saint Louis. N e w Orleans. SanFrancisco. Chicago. Cincinnati. ASSETS. ^ ,$25r31S,099,25 $4,025,261.60 $10.5, 096, 974. 00 $2, 632, 017. CO i|9,314, 612. 00 $7, 850, 000. 00 $2, 243, 770. 00 $6,174, 200. 00 $5,466,750.00 $31, 370,166. 00 68, 032; 270. CO 3, 607, 667. CO 733, 500. 00 1, 820,808. 00 11, 311, 788. 00 7, 713, 531. CO 18, 402, 410. 00 31, 661, 367. 00 14, 786, 349. 00 2, 091, 0.55. 00 2,315,341,75 . 499,334.05 6, 936, 652. 00 385, 026. 88 842, 852.55 324, 000. 00 1,293,195.00 1,521,442.00 9,726,411.35 1, 882, 202. 90 • 2,591,230,00 1, 350. 00 494, 360. 00 864, 280. 00 495, 200. 00 580, 780. 00 3, 714, 810. CO 6, 869, 240. 00 1,710,520.00 3, 590, 730. 00 6, 227. 00 25. 585, 076. 00 104, 749.00 186, 224. 00 276, 940. 00 176, 325. 00 1, 606, 081. 00 408, 062.00 178, 694. 00 63, 737, 00 532, 986. 00 21,971,204.00 2,150, 254. CO 722, 656. 00 444, 016. 00 United States notes 984,107. 00 17, 883, 800. 32 3,783,619.00 1, 252, 030. CO 2, 588, 807. 00 9, 375. 00 3, 085. 00 6, 770, 380. 08 920. 00 905. 00 National-banknotes 15, 860. 00 23, 799. 00 8, 534, CO 74, 698. 00 2, 985. 00 674. 94 .45 .36 Fractional currency 682.18 5,405.21 7, 846.28 Minor coin .. 6, 949. 65 . . i i , 5.5L5i 3, 370. 93 617.21 31, .517, 22 7, 350.45 7, 073. 43 8.770.10 Lc'al-tender certificates - - 30, OCO. CO 20, 000. 00 • 140, 000, 00 10, 000, 00 50, 000. CO Interest on U. S. bonds paid. 473.28 11,120.41 10. 00 106, 923. 24 13,978,50 • 7,166.80 6, 617. 66 436, 89 Interest on D. C. bonds paid 1, 876. 30 24, 016. 43 701, 851. 34 Unavailable Treasurer's transfer account 41, 933, 647. 42 Standard silver dollars Fractional silver coin Total 194, 518, 328. 65 10, 922,113. 93 173, 032, 049.15 25,160, 752, 96 17, 260, 766. 48 12, 547, 340. 99 10, 364, 007. 25 20, 417, 022. 34 15, 753, 210. 78 57, 267, 012. 28 856, 034. 83 424,190.35 LIABILITIES. D i s b ' g o f f i c e r s ' b a l a n c e s , e t c - 3,633,351.83 253, 347. 08 P. 0. Department account.. 251,179. 33 I n t e i ' e s t a c c o u n t , D . C . bonds T r e a ' s c h ' k s & d'fts outs'd'g 329,357.18 N a t . b a n k r e d e m p t i o n f u n d s 98, 929, 57L 27 Treasurer's transfer accouut Balance . . . 91,321,52L96 Total 223, 749. 64 250,194.11 29, 791, 768. 66 1, 781, 389. 58 843,758. 39 514, 407. 61 957,185, 36 599, 610.86 293,-443, 91 547, 834. 82 823,019.25 977, 793.80 755, 352. 92 488, 878. 82 518, 712. 28 213, 960. 22 33, 956. 97 1, 069, 219. .32 201,118. 71 181, 444,18 51, 559. 56 282, 271. 60 98, 374. 78 56,839.56 237,156.04 • 6, 058, 560. 25 3, 515, 463. 23 5, 072,151, 51 134, 331, 111. 34 20, 086, 005. 02 10, 450, 374. 57 3, 692, 626.19 7,961,876.51 1, 677,166. 64 6,863,690.43 6, 603, 755.96 12, 210, 725.39 6, 406, 729. 87 8,556, 968. 85 5,412,131.20 50, 337, 499. 86 , 194, 518, 328. 65 10,922,113.93 . 173, 032, 049.15 25,160, 752. 96 17, 260, 766. 48 12, 547, 340.99 10, 364, 007. 25^ 20,417,022.34 15, 753, 210.78 57,267,012.28 . No. 1 3 . — C O M P O S I T I O N AND Denver. G o l d coin Goldbullion S t a n d a r d silver dollars $0.90 F r a c t i o n a l s i l v e r coin Silver bullion Trade-dollar bars 4.00 United States notes .06 M i n o r coin Balancein sub-treasuries and n a t i o n a l - b a n k d e p o s i t a r i e s . 73, 993. 27 Unavailable "' Total 3,235,128.10 7,179,085.11 73, 998. 23 Carson City. $145, 495. 00 982, 920. 26 5, 315. CO 594. 43 69, 773. 27 DISTRIBUTION OF THE BULLION FUND, B Y OFFICES, N e w O r i e a n s . P h i l a d e l p h i a . S a n F r a n c i s c o . Bois6 C i t y . C h a r l o t t e . $142, 280. CO ^69, 978. 50 568, 073. 35 22, 927, 691. 73 11, 855, 052. CO •47, 016, 836.00 18, 739. 36 .73 2, 57], 215.10 877, 283. 31 2, 751, 240. 00 $4, 605,140. 00 2, 519, 443. 01 25,142, 074. 00 297, 928. 23 24, 856. 80 240, 256. 02 $17.50 25,106. 25 J U N E Helena. 30, H PO zn a PO 1888. , New York. Saint Louis. Dahlonega. ^52, 587.17 $83,.179,249.94 1, 000. 00 427,511.85 3, 495, 533.00 .08 121, 902. 04 3, 392. 67 294, 310. 06 ""'4i3,"557.'96' 1, 326, 000.00 13,446, 082. 06 75, 650, 010. 75 15,588,983.43 $1,^03. 95 52, 791.48 135,199.77 102,692,278.30 1, 603. 95 83; 863.77 $20, 791.48 11, 611. 03 32, 000. 00 33, 243, 256. 02 120, 598.55 82, 612. 60 $27, 950. 03 27, 950.03 00 36 R E P O R T ON T H E FINANCES. No. 14.—CHARACTER AND D I S T R I B U T I O N OF T H E ASSETS AND L I A B I L I T I E S OF T H E T R E A S U R Y AND R E C O N C I L I A T I O N O F T H E BALANCE W I T H T H E BOOKS OF T H B R E G I S T E R OF T H E T R E A S U R Y , J U N E 30, 1888. • I r e a s u r y a n d M i n t s and assub-treasday-offi ces uries. bullion fund. Assets. Mints, other than bullion fund. National bank and In transit o t h e r depos- t)etween of. fices. itaries. 15199,486,839.75 $4,962,911.00 G o l d coin 110,255,071.71 Gold bullion S t a n d a r d s i l v e r d o l l a r s ieo, 1607735.00 84,020,277.00 F r a c t i o n a l s i l v e r coin . . 25,726,458.48 317,263.651 3,970,640.33 Silver bullion 26,9C2V50b.00 G o l d certificates 28,592,115.001 S i l v e r certificates V* 4.00 United States notes . 52,313,487..32 National-banknotes.. . 6,910,541.08 Fractional currency 1,357.92 .14 90,451.99 M i n o r coin . .„ L e g a l - t e n d e r c e r t i fi.250,000.00 cates - . United States bonds and interest I n t e r e s t on U n i t e d States bonds p a i d . . . . 146,726.78 I n t e r e s t on D i s t r i c t of Columbia bonds paid. 1,876.30 6,487,029.02 Trade-dollar bars B a l a n c e s in s u b - t r e a s . u r i e s t o c r e d i t of m i n t s a n d assay-offices 16,271,45^3.27 Deposits in n a t i o n a l $58,712,511.11 b a n k depositaries M i n o r coinage in e t a 1 fund $44,000.00 Minor coinage redemp22,468.60 tion account 339.42 Recoinage account . 485,119.02 218,463.55 725,867.77 Total assets ^ t r e a s u r e r ' s t r a n s f e r acAggregate 495,308,957.39 226,769,769.14 Total. $204,449,750.75 110,255,071.71 ^$382.80 244,181,394.80 26,043,722.13 3,970,640.33 26,bbo.ob 20,928,500.00 140,000.001 28,732,115.00 988.484.'57 53,301,975.89 7,055,541.08 145,000.00 1,357.92 90,452.13 250,000.00 28,160.00 28,160.00 25,902.54 172,629.32 1.876.30 6,487,029.02 16,271,453.27 58,712,51L11 44,000.00 22,468.60 339.42 1,429,450.34 66,808.02 58,930,974.66 1,353,929.91 782,430,439.12 41,933,647,42 41,933,647.42 . ' . . . 537,242,604.81 226,769,769.14 . 66,808.02 58,930,974:66 1,353,929.91 824,364,086.54 Liabilities. D u e [depositors for sil193.082.20 193,082.20 D i s b u r s i n g officers' balances and other small 3,778,518.31 38,696,377.07 P . 0 . D e p a r t m e n t ac1 6,051,607.25 count I n t e r e s t account. District of C o l u m b i a b o n d s 251,179,33 F u n d s for r e d e m p t i o n of national-bank notes.. 98,929,571.27 Treasurer's checks and drafts outstanding 2,341,297.90 T r e a s u r e r ' s t r a n s f e r account , . 41,93S,647;45 42,474,895.88 6,051,607< 25 251 179.33 98,929,571.27 235,264.44 2,576,562.34 41,933,647.42 T o t a l liabilities Balance k88,203,680.24 349,038,924.57 226,769,769. i4 1 4,013,782.75 193,082.20 192,410,545.19 66,808.02 54,917,191,91 1,160,847.71 631,953,54L35 Aggregate 1 537,242,604.81 226,769,769.14 66,808.02 58,930,974.66 1,353,929.91 824,364,086.54 RECONCILIATION. Total balance as above Less amounts not covered by warrants (see page 33) Balance, Treasurer's general account ^ Unavailable deposits with the States Balance as shown by Register's books ., : " $631, 953, 541. 35 606, 086,32 631,347,455,0.^ 28,101,644,91 659,449,099.94 37 TEEASUEER. No. 15.—^STATEMENT B Y L O A N S , OF U N I T E D STATES B O N D S H E L D I N TRUST F O R NATIONAL BANKS, J U N E 30, 188'S, AND OF CHANGES D U R I N G T H E FISCAL Y E A R 1888 IN T H E CHARACTER O F T H E B O N D S H E L D . - Bonds Four per L o a n of Funded i s s u e d to c e n t , con- , tTuJy 12, Pacific loan of 1891 sols of 1907 1882 r a i l r o a d s (4^ p e r c t o • (4 p e r c t . ) . (3 p e r c t ) . (Operct.). B o n d s h e l d i n t r u s t J u n e 30, 1887— F o r circulation F o r public moneys $3,175, 000 $67, 743,100 l$115,842,650 55, 205, 950 !$191, 966, 700 9, 434, 000 1.5, 568, 500 1,308,000 I 26,485,500 175, 000 Total 3,350, 000 77,177,100 131,411,.] 50 6, 513, 950 218, 452, 200 136, 000 130, 000 7, 670, 350 5, 743, IpO 4, 841..350 15, 260,150 5,168,450 12,647,700 26, 301, 750 926, 000 200, 000 7. 842. 200 1, 612, 700 .27. 773, 800 8, 913, 800 1,173, 000 36, 542, 000 6, 899, 500 3,181, 000 901, 000 69, 670, 300 15, 663, 500 105,423, 850 39,428, 500 37. 500 135, 000 178, 312, 650 56,128,000 4, 082, 000 85, 333, 800 144, 852, 350 D e p o s i t e d a n d w i t h d r a w n d u r i n g fiscal year— F o r circulation-rDeposited Withdrawn For public moneys— Deposited ' Withdrawn ., B o n d s h e l d in t r u s t , J u n e 30, 1888— F o r circulation F o r public moneys Totai No. 16,- -DATES WHEN EACH ISSUE OF U N I T E D CEASED. 234, 440,650 STATES C U R R E N C Y BEGAN Began. Issue. Old d e m a n d n o t e s United States notes: N e w issue I s s u e of 1869 I s s u e of 1874 I s s u e of 1875 '. I s s u e of 1878 I s s u e of 1880 One a n d t w o y e a r n o t e s of 1863: One-year n o t e s Two-year notes Two-year coupon notes Compound interest notes Fractional currency: First issue Second i s s u e Third issue ,. F o u r t h issue Fifth issue Gold c e r t i f i c a t e s : A c t o f M a r c h , 31863 A c t o f J u l y 12, 1882 Silver c e r t i f i c a t e s : S e r i e s of 1878 Series of 1880 Series of 1886 Total. - r „o i • AND Ceased. A u g . 26,1861 Mar. 5,1862 Apr. Oct. July July Mar. Mar. 2, 1862 19, 1869 25, 1874 20, 1875 4, 1878 16, 1880 Aug. June Nov. June May ] 6,1870 30,1877 13,1877 20,1879 12,1884 Feb. Mar. Jan. June 4, 1864 16, 1864 12, 1864 9, 1864 J u n e 1,1864 M a y 30,1864 A p r . 20,1864 J u l y 24,1866 Aug. •Oct: Dec. July Feb. 21, 1862 Sept. 21,1866 10, 1863 F e b . 23,1867 5, 1864 A p r . 16,1869 14, 1869 F e b , 16,1875 26, 1874 F e b . 15,1878 N o v . 15, 1865 Oct. 2, 1882 Dec. A p r . 11, 1878 M a y 26, 1880 S e p t . 7, 1886 M a y 22,18'86 3,1878 38 No. R E P O R T ON T H E FINANCES. 1 7 . — U N I T E D STATES C U R R E N C Y O F E A C H I S S U E AND D E N O M I N A T I O N I S S U E D , R E D E E M E D , AND OUTSTANDING AT T H E CLOSE OF T H E F I S C A L Y E A R 1888, OLD DEMAND NOTES. Redeemed. Outstanding. Issued. Denomination. During fiscal y e a r . F i v e dollars T e n dollars T w e n t y dollars Total T o J u n e 30,1888. Amount. Per cent. $21, 800, 000. 00 20, 030, 000.00 18, 200. 000. 00 $92.50 90.00 140.00 $21, 777, 257. 50 20, 009,155. 00 18,186, 780. 00 $22, 742. 50 20, 845. CO 13, 220. 00 O.lO 0.10 0.07 60, 030, 000. 00 322. 50 59, 973,192. 50 56, 807. 50 0.09 UNITED STATES NOTES. Redeemed. Issue and denomination. . During fiscal y e a r . 22}ew I s s u e . O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars O n e h u n d r e d dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars . Unknown Outstanding. Issued. $28,351,348.00 34, 071,128. Co 101, 000, 000. CO 118, 010, 000. 00 102, 920, 000. 00 30, 055, 200. 00 . 40, 000, 000. 00 58,986, 000. 00 155, 928, 000. 00 T o J u n e SO, 1888. $3, 612, 35 4, 971. 60 53,126, 25 107, 356. 00 124,139. 00 17,190. 00 23, 710. 00 11, 000. 00 9, 500. 00 , $27, 571, 356. 00 33, 475, 711. 00 100, 4.57, 050. 00 114, 483,109. 00 100, 857, 986.00 29, 773, 075. 00 39, 597, 400. 00 58, 754, 000. CO 155,722,000.00 135,000.00 Amount. $779, 992. 00 595,417.00 542, 950. 00 3, 526, 891- 00 2, 062, 014. 00 282,125. 00 402, 600. 00 232, 000. 00 206, ooo; 00 Per cent. 2.75 1.74 0.54 2.99 2.00 0.93 LOI 0.39 0.13 8, 629, 989. 00 D e d u c t for u n k n o w n denominations destroyed in Chicago fire Total . I s s u e of 1869. O n e dollar T w o dollars Five dollars. . T e n dollars T w e n t y dollars Fiftydollars One h u n d r e d dollars.. F i v e h u n d r e d dollars One thousand dollars Unknown 135, COO, 00 669, 321, 676. 00 ... 42, 456, 812. 00 50, 511, 920. 00 50, 581, 760. 00 , 85, 221, 240. 00 73,162, 400. 00 30, 200, 000.00 37,104,000,00 44, 890, 000, 00 79,700,000,00 354,605.20 19, 976. 25 24, 782. 40 229, 540. 75 1,176,495. CO 1, 342, 004. 00 172, 700.00 404, 500. 00 5, 500. 00 136, 000. 00 660, 826, 687. 00 8,494,989.00 1. 27 42, 053, 965. 50 50,126,126. 00 49, 529, 567. 50 81, 214, 040. 00 68,202,870.00 29,127, 025. 00 34, 798, COO. 00 44, 632, 500. 00 78, .374, 000. 00 865,000. 00 402, 846. 50 385, 794. 00 1, 052, 202. 50 4, 007, 200. 00 4, 959, 530,00 1, 072, 975. 00 2, 306,000. 00 257, 500, 00 1, 326, 000. 00 0,95 0.76 2.08 4.70 6.78 3.65 6.21 0.57 1.66 15, 770, 048. 00 D e d u c t for u n k n o w n denomin a t i o n s d e s t r o y e d in C h i c a g o fire Total :.. I s s u e of 1?.U. O n e dollar ^ T w o dollars Fifty dollars . . . F i v e h u n d r e d dollars . Total • I s s u e of 1875. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars One h u n d r e d dollars F i v e h u n d r e d dollars Total. 865, 000. 00 478, 923, 084. CO 14,905,048.00- 493, 828,132, 00 3, 611, 498.40 18, 988, 000.00 16, 520, 000. 00 24,460,000.00 28, 000, CCO, 00 18,560.60 15, 741.60 715, 275. 00 133, 500. 00 18, 848,434.CO 16,412,819.00 21,479, 250. 00 27, 500, 000. 00 139, 566. CO 0.74 107,18L00 0.65 2, 980, 750, 00 12.19 500, 000. 00 1.79 87, 968, 000. 00 883, 077. 20 84, 240, 503.00 3, 727, 497. 00 4.24 25, 956, 065, 00 255, 935. 00 22, 797, 450. 00 238, 550, op 44, 770, 645.00 1, 409, 355, 00 21, 9.t5,170. UO 1, 744, 830, 00 21, 854, 720,00 • 3,145, 280, 00 1, 699, 000. 00 301, 000, 00 13, 245, 400, OO 2, 954, 600. 00 26,971,000.00 1, 429, boo, 00 0.98 1.04 3.05 7.37 12.58 15.05 18.23 5.00 38,189.20 26, 212, 000.00 51, 454. 60 23,036,000.00 454, 521. 00 46,180,000.00 686, 242,00 23, 660, 000. 00 25, 000, 000. 00 1,027, 528. 00 100, 775, ©0 2, 000, 000, 00 644, 260, 00 16,200,000.00 179, 000. 00 28, 400, 000. CO 190, 688, 000.00 3,181, 969. 80 179, 209, 450. 00 11,478,550.00 3.02 6.02 39 TEEASUEEE. No, 1 7 . — U N I T E D STATES C U R R E N C Y O F E A C H I S S U E AND D E N O M I N A T I O N I S S U E D , R E D E E M E D , AND OUTSTANDING, ETC.—Continued. U N I T E D STATES NOTES—Continued. Redeemed. , Issue and denomination. ' Outstanding. Issued. During fiscal y e a r . I s s u e of 1^78. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fifty dollars O n e h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars F i v e t h o u s a n d dollars T e n t h o u s a n d dollars Total Amount. Per cent. $12, 512,000. 00 $34, 821. 70 $12, 329, 896,00 9, 352,000.00 29, 270. 00 9, 219, 524. 00 SO, 160, 000. 00 474, 831. 00 , 28, 815, 960.00 26, 000,000. 00 1, 022,188. 00 23,440,390.00 34,800, 000. 00 2, 055, 272,00 29, 245, 080. CO 10, 500. 000,00 742, 830. CO 8, 07^7, 600. 00 20, 200, 000. 00 1,'274, 830. CO 15,181,100. 00 12, 000, 000.00 656, 500. 00 9, 336, 500. CO 24, 000, 000. 00 687, 000.00 20, 308, 000. 00 20, 000, 000. CO 10,000.00 19, 965,000. 00 40,000,000.00 39, 990, 000.00 $182,104.00 132, 476. 00 1, 344, 040.00 2, 559, 610. 00 5, 554, 920.00 2,422,400.00. 5, 018, 900. 00 2, 663, 500. 00 3, 692, 000. 00 35, 000. Od 10, 000. 00 L45 1.41 4.46 9.84 15.96 23.07 24.85 22.20 15. 38' 0.17 0.02 215, 909, 050. 00 23, 614, 950, CO 9.86 51, 748, 211. 00 3, 419, 789.00 44,482,482.00 3, 517, 518. 00 70,633, 675. 00 76, 706, 325. 00 27, 054,130. 00 74, 425, 870, 00 9, 387, 820. 00 69, 092,180, 00 3, 588, 700. 00 14,811,300.00 5,178, 000. 00 20, 422, 000. 00 2,986,000.00 1, 264, 000. 00 15,42i, 000. 00 19,079,000.00 6.20 7.33 52.06 73.34 88.03 80.50 79. 77 70.25 55.30 239, 524, 000. 00 I s s u e of 1S80. One dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars One hundred dollars. - . . F i v e h u n d r e d dollars One thousand dollars T o J u n e 30,1888. 6, 987, 642.70 55,168, 000. 00 3, 501, 983, 90 48, 000, 000, 00 3, 905, 415.80 147, 340, 000. 00 20, 097, 959, 00 101,480,000. 00 8,114,789.00 78, 480, 000, 00 3, 366,494. 00 18, 400, 000. 00 1, 089, 665. 00 25,600,000.00 1, 092, 000. 00 151, 000. 00 4, 250, 000. 00 , 34, 500,000. 00 7, 414, OCO, 00 Total 228,758, 018. 00 284, 459, 982. 00. 55.43 513,218,000.00 48, 733, 306.70 ONE AND TWO YEAR NOTES OF 1863. Redeemed. Outstanding. Issued. Issue and denomination. During fiscal y e a r . T o J u n e 30,1888; $230. 00 420. 00 150.00 300. 00 $6,193, 085. 00 16,425, 280. CO 8, 233,350. 00 13,633,100. 00 90.00 Amount. Per cent. One-year notes. $6, 200, 000. 00 16, 440, 000. 00 8, 240, 000. 00 13, 640, COO. 00 T e n dollars TTwenty d o l l a r s . Fifty dollars One h u n d r e d dollars Unknown .. $6,915.00 14, 720, 00 6, 650. 00 6, 900. 00 0.11 0.08 0.08 0.05 35,185.00 D e d u c t for u n k n o w n denominations destroved . . . . . 90. 00 Total 44, 520, 000. 00 1,100.00 44, 484, 905. 00 35, 095, OO 0,08 250.00 400. CO 6,793, 750. 00 9, 677, 600. 00 6. 250, 00 2,400,00 0,09 0.02 • Two-year notes. F i f t y dollars : One h u n d r e d dollars 6, 800, 000. 00 9, 680, 000. 00 Total 16, 480,000. 00 650. 00 . 16,471,350.00 8, 650. 00 0.05 5, 905, 600. 00 14,484,400. 00 40, 302, 000.00 89, 308, COO. 00 50.00 5,903, 700.00 14, 476, 200.00 40, 300, 500,00 89, 289, 000. 00 10, 500. 00 1, 900. 00 8, 200. 00 . 1, 500. 00 i9, 000.00 0.03 0.06 'Two-year coupon notes. F i f t y dollars One hundred dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars Unknown ' 0.02 30,600.00 D e d u c t for u n k n o w n d e n o m i n a tions destroyed Total.. 10,500,00 150, 000, 000.00 50. 00 149, 979, 900. CO 20,100.00 0.01 • -. 40 No. R E P O R T ON T H E FINANCES. 1 7 . — U N I T E D STATES C U R R E N C Y O F EACH I S S U E AND DENOMINATION ISSUEDO R E D E E M E D , AND OUTSTANDING, ETC.—Continued. COMPOUND-INTEREST NOTES. Redeemed. During T o J u n e 30,1888. fiscal y e a r . Ten dollars. T w e n t y dollars F i f t y dollars One h u n d r e d doll a r s . . . . . . . . F i v e h u n d r e d dollars One thousand dollars Total , Outstanding. Issued. Denomination. -. .... Amount. Per cent. $23,285, 200. 00 30,125, 840.00 60, 824, 000.00 45, 094, 400, 00 67, 846, COO. 00 39, 420, 000.00 $720.00 . 980.00. 1,050.00 200. 00 500. 00 $23, 260, soo: 00 SO, 086, 230.00 60, 753, 750. 00 45, 058, 800. 00 67, 833, 500. 00 39, 413, 000.00 $24, 900. 00 39,610.00 70, 250.00 35, 600.00 12, 500.00 7, 000. 00 0.11 0.13 0 11 0.08 0 02 0 02 266, 595, 440. 00 3,450. 00 - 266,405,580.00 189, 860. 00 0.07 FRACTIONAL CURRENCY. Redeemed. Outstanding. Issued. Issue and denomination. During fiscal y e a r . T o J u n e 30,1888 Amount. Per cent. • F i r s t issue. Five cents Ten cents ' Twenty-five cents Fifty cents ' '.-.. Total $2, 242, 889. 00 4,115, 378. 00 5, 225, 696, 00 8,631,672.00 $22. 59 47.04 73. 29 121.26 $1, 214, 689. 22 $1, 028,199, 78 1, 243, 761. 67 2, 871, 616. 33 4,186, 836. 25 1, 038, 859, 75 7. 661, 733.25 969,938.75 45.84 30.22 19.88 11.24 20, 215, 635, 00 264M8 15, 934, 875. 05 4, 280, 759. 95 2L18 2, 794, 826,10 6,176, 084. 30 7, 648, .341. 25 6, 545, 232, 00 44.06 68. 23 64.92 77.50 2,096,319.02 5, 264, 085. 40 6, 903,146. 33 5, 795i 108. 05 698, 507. 08 911, 998. 90 745, 195, 92 750,123. 95 24.99 14.77 9.74 11. 46 23,164,483.65 2.54.71 20, 058, 657. 80 3,105, 825. 85 13.41 601,923.90 657,002,75 16, 976,134, 50 1, 352,40 31,143,188. 75 36, 735, 426, 60 7.97 2L59 553. 59 .21 718:44 1,009.10 611,658.51 ' 524, 625, 23 15, 925, 388, .52 75, 67 30,242,418.74 35, 930, 676. 00 90, 265. 39 132, 377. 52 1, 050, 745. 98 • 1,276.73 900, 770. 01 804, 750. 50 15. 00 20.15 6.19 94.38 2.89 2.19 86,115, 028. 80 2, 310. 90 8.3,134,842.67 2, 980,186.13 . 3.46 34, 940, 960, CO 5,304,216.00 58, 922, 256. 00 77, 399, 600. 00 2, 080. 56 .547. 41 3, 606.83 4,426.50 1,374,187.20 33, 566, 772. 80 239, 512.19 5, 064, 703. 81 57, 897, 550. 37 . 1,024,705.63 1, 069,834.75 76, 329, 765. 25 32, 000. 00 Second issue. Five cents » Ten cents Twenty-five cents Fifty cents...-. Total T h i r d issue. Three cents Five cents Ten cents . . - . . . Fifteen cents Twenty-five cents Fifty cents ... Total. F o u r t h issue. Ten cents Fifteen cents Twenty-five cents Fifty cents Unknown 1 3, 708, 239. 77 D e d u c t for u n k n o w n denominations destroyed in Chicago fire ^ Total 3.93 4.52 1.74 1.38 • 32,000.00 176, 567, 032. 00 10, 721.30 172, 890, 792, 23 3, 676, 239. 77 2.08 4,271.63 4, 537. 03 1, 960. 80 19, 503, 317. 80 35, 509, 640, 75 6, 393, 371. 00 486, 582. 20 58-2,359. 25 186, 629. 00 2.43 1.61 2.84 10, 769. 46 61, 406, 329. 55 1, 255, 570.45 2.00^ F i f t h issue. Ten cents Twenty-five cents Fifty cents 19, 989, 900. 00 36,092, 000. 00 6, 580, 000. 00 Total. 62, 661, 900, 00 . 41 TREASURER. JSTO. 1 7 . — U N I T E D STATES C U R R E N C Y O F EACH I S S U E AND D E N O M I N A T I O N I S S U E D , R E D E E M E D , A N D OUTSTANDING, ETC.—Coiatiriued. RECAPITULATION. Outstanding. Redeemed. Issued. Class. D u r i n g fiscal year. Old d e m a n d n o t e s .... U n i t e d fcitates n o t e s One a n d two year notes Compound interest notes Fractional currency Total :.. ..: T o J u n e 30, 1888. Per cent. Amount. $322. 60 $.56, 807. 50 $60, 030, 000. 00 $59, 973,192. 50 2,194, 547, 808. 00 63, 652, 000, 00 1, 847, 866, 792. 00 346, 681, 016.00 63, 845.00 211,000,000.00 1, 800, 00 210, 936,155. 00 189,860. 00 266, 595, 440. 00 3, 450. 00 266,405,580.00 368, 724, 079. 45 24, 320. 55 353,425, 497. 30 15, 298, 582.15 0.09 15.80 0.03: 0.07 4.15 3,100,897,327.45. 63,681,893.05 2,738,607,216.80 362,290,110.65 1L68 No. 18.—REDEMPTION O F U N I T E D STATES C U R R E N C Y F O R T H E FISCAL Y E A R 1888, TOTAL R E D E M P T I O N S TO J U N E 30, X88d, AND DEDUCTIONS ON ACCOUNT O P M U TILATIONS.' . D e d u c t i o n s on a c c o u n t of m u t i l a t i o n s . Redemptions, n e t value. ' I n fiscal y e a r . T o J a n e 30,1888. $320.^00 68, 559, 276. 00 1, 800. 00 3, 450. 00 7,400.00 21,944,756.00 64, 583, 394."00 $.^9, 971, 06L 25 1, 847, 672, 201. 50 210,935.763.00 266,40.5,100.00 353, 283, 6 9. 91 146, 403, 606. 00 137; 690, 277.00 150,098,396.00 3, 022, 361, 628. 66 Old d e m a n d n o t e s United States notes One a n d t w o y e a r n o t e s . . Compound-interest notes. Fractional currency Silver certificates G o l d certiflcates Total - No. 19.- In ' fiscal year. T o J u n e 30, 1888. T o t a l face valu© of n o t e s ^ redeemed. 42,39 914, 00 86,00 $2,131. 25 194, 590, 50 392. 00 480. 00 141, 877.39 2,622,00 153. 00 $59, 973,192. 50 1, 847, 866, 792, 00 210, 936,155, 00 26^6,405, 580. 00 353, 425,497.30346,406,228.00 137, 690,430. 00* 4,214.39 342, 246.14 3, 022, 703, 874, 80' $3,172.00 -IssuES AND R E D E M P T I O N S O F U N I T E D STATES N O T E S B Y DENOMINATIONS A N D B Y F I S C A L YEAP.S. Denomination. 1862. One d o l l a r T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fifty dollars O n e h u n d r e d dollars Five hundred dollars... One thousand dollars . . . . . . . . Total Issued, Redeemed. Increase in circulation. $17,140, 000 15,440, 000 16, 040. 000 13, 000, 000 13,000,000 13, 000, 000 12, 000, 000 $2, 000, 000.00 $17,140, 000. 00 15, 440, 000. 00 15,040,000.00 13, 000, 000. CO 13, 000, 000. 00 13, 000, COO. 00 10, 000, 000. 00 98, 620, 000 2, 000, 000.00 96, 620, 000.00 1863. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars O n e h u n d r e d dollars . . F i v e h u n d r e d dollars One t h o u s a n d dollars . . . Total 16, 000, 000 17, 000, 000 62, 860, 000 74, 560, 000 59, 960, 000 10, 080, 000 17, 800, 000 13, 500, 000 19, 500, 000 .291, 260, 000 13, 032. 00 5, 044,00 69, 735.00 46,140,00 62,160. 00 44, 000. 00 1, 300. 00 1,000.00 • 1, 000. 00 233,-411. 00 15, 986, 968.00 16, 994, 956. 00 62, 800, 265. 00 74, 513, 860. 00 59. 897, 840. 00 10, 036, 000. 00 17, 798, 700. 00 13,499,000.00 19, 499, 000. 00 291, 026, 589. 00 Decrease i h circulation. • • >' 42 R E P O R T ON THE. No. FINANCES. 19.—ISSUES AND R E D E M P T I O N S O F U N I T E D STATES N O T E S B Y DENOMINATIONS AND B Y FISCAL YEARS—Continued. Denomination. 1864. O n e dollar . T w o dollars F i v e d o l l a r s '. T e n dollars •Twentv dollars Fiftydollars One h u n d r e d dollars F i v e h u n d r e d dollars •One t h o u s a n d d o l l a r s Issued. .... °. . Redeemed. Increase in circulation. $946,000 766, OCO 15,700,000 18, 880, 000 11, 919, 680 6, 975, 200 / 3, 544, 000 7, 414, 000 .. 17, 904, 000 $96, 759. 36 62, 648. 05 175,290.50 156, 233. 50 231, 622. 00 90, 622. 60 181,400,00 8, 467,.500. 00 10, 304, 000, 00 $849,240. 65 703, 361. 95 15, 524, 709'. 50 18, 723, 766. 50 11, 688, 058. 00 6, 884, 577. 50 3, 362, 600. 00 84, 048, 880 19, 766, 075. 90 65, 336, 304.10 1, 186, 000 2,130, 000 963,«820 1,125, 040 260, 954.40 260, 574.20 394,275.50 311, 263. 00 526, 033, 00 190, 947.60 333,140. 00 632,47.5. 00 1, 344, 000. 00 925,045. 60 1, 869, 425, 80 569, 544. 50 813, 777. 00 5, 404, 860 4, 253, 662. 60 4,177, 792. 90 714, 000 . 664,000 11, 000, 000 22, 000, 000 1. 266, 495.15 i; 421, 898. 50 688, 593. 50 473,548 00 969, 532. 00 406, 892. 50 552, 675. 00 387, 425. 00 672, 800. 00 10,612,575.00 21, 327, 200, 00 34, 378, 000 ' 6, ,739, 859.65 31, 939, 775,00 1, 500, 000 2, 000, 000 2,040,000 56, 412, 000 3, 220, 683. 25 3,691,717.30 29, 837,653. 75 21, 359, 294. 75 7, 218, 210. 00 438, 875. 00 573, 050. 00 363,325.00 50, 559, 900. 00 i, 676, 675, 6b 5, 852,100. CO 61, 952, 010 117, 262, 708. 85 7, 528,775, 00 2, 483, 348 3, 510, 696 2, 032, 000 8,112, 000 4, 297, 683, 25 4, 667, 751, 70 2,230,801,25 3,506,372,50 2,391,665,00 841,932,50 974, 975. 00 1, 504, 975, 00 6,459, 000, 00 527, 025.00 2, 653, 000.00 16,138,044 25,855,156,20 3,180, 025, 00 5, 522, 000 8, 000, 432 4,336,180 8,004,960 16, 000, 320 592, 971. 60 2, 712, 666.10 .5, 656, 000 10, 000, 000 20, 000, 000 4, 929, 028.40 5, 287, 765, 90 6, 641, 495. 50 6, 833, 888. 00 5, 816, 229. 00 7,213.355.00 6, 010, 285. 00 7,548,47.5,00 7, 669, 000. 00 2, 451, 525. 00 12, 331, COO. 00 .77,519,892 67, 947, 521. 80 29, 443, 325. 70 Total Decrease in circulation. V $1, 053, 500. 00 7, 600; 000. 00 L 053, 500. 00 1865. •One d o l l a r T w o dollars F i v e dollars .1 T e n dollars T w e n t y dollars Fifty dollars '. One hundred dollars F i v e h u n d r e d dollars One thousand dollars ' . Total 526, 033.00 190, 947. 50 333,140. 00 632, 475. 00 1, 344, 000.00 3, 026, 595. 50 1866. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fiftv dollars One h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars . .. .- I Total // 552,495.15 757, 898. 50 . 588, 693.50 473 548. 00 969^ 532. 00 406, 892. 50 552.675. 00 4, 301, 634. 65 • 1867. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fifty dollars One h u n d r e d dollars F i v e h u n d r e d dollar.s One thousand dollars • 10 . Total 1, 720, 683. 25 1, 691, 717.10 29, 837, 653. 75 21, 359, 284. 75 7,218,210.00 438,875. 00 573, 050. 00 62, 839,473. 85 1868. O n e dolla.r T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars O n e h u n d r e d dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars ' - Total 1869. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t v dollars • . . O n e h u n d r e d dollars . F i v e h u n d r e d dollars O n e t h o u s a n d dollars Total ,. .' 1 814 335.25 1,157, 055. 70 2, 210, 801.25 3, 506, 372. 50 2,391,665.00 841, 932. 50 974, 975.00 12,897,137.20 2, 305, 315. 50 1,171,072,00 10,184, 091.00 7,211,355.00 354 285,00 9,870 955.50 43 TREASURER. No. 19.- - I S S U E S AND R E D E M P T I O N S OF U N I T E D STATES N O T E S B Y DENOMINATIONS AND BY FISCAL YEARS—Continued. Denomination. 1870. O n e dollar . ...T w o dollars F i v e dollars T e n dollars .„ T w e n t y dollars Fifty dollars One hundred dollars F i v e h u n d r e d dollars One thousand dollars •' ... '... : Total ' ^ 1871. One dollar T w o dollars „ F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars O n e h u n d r e d dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars F i v e thousand dollars T e n t h o u s a n d dollars ^ Total. I n c r e a s e in circulation. Issued. Redeemed. $8, 220,000 14, 032, 000 19, 580, 000 37, 920, 000 23, 760, 000 20, 600, 000 28, 600, 000 $4, 422, 884. 45 5, 209, 611. SO 10, 053, 996. 25 19, 001, 072. 50 21, 605, 403. 00 9, 223, 617. 50 11,411, 460.00 16, 433,475.00 37, 812, OCO. 00 $3,797,115. 55 8, 822, 383.70 9, 526, 003. 75 18, 918, 927. 50 2,154,597.00 11, 376, 382. 50 17,188,540.00 152,712,000 135,173, 620. 00 71,783,955.00 17,480, 000 16,992, 000 12, 560, 000 29, 400, 000 26, 680, 000 9, 600, 000 120, 000 34, 800, 000 54, 800, 000 5, 002, 208. 45 6, 821, 860. 80 14, 016, 532, 25 16, 997, 841, 50 16, 607, 793. CO 5, 089, 320. 00 8, 915, 880. 00 16, 069, 875. 00 31, 067, 000. 00 12, 477, 791. 55 10,170,139. 20 202,432,000 120,588,311.00 D e c r e a s e in circulation. $16 433 475 00 37, 812, 000. 00 54, 245, 475.-00 1,456,532.25 12, 402,158. 50 10, 072, 207.00 4, 510, 680.00 8, 795, 880. 00 18, 730,125. 00 23, 733, 000, 00 92, 096,101, 25 10,252, 412.25 1872. O n e dollar .. . . T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars O n e h u n d r e d dollars F i v e h u n d r e d dollars ..;... O n e t h o u s a n d dollars . . ... F i v e t h o u s a n d dollars T e n t h o u s a n d d o l l a r s '. . 5, 724, 516. 60 7, 566, 79L 90 11, 658, 604. 00 13, 584, 50.5. 50 13,264,976.50 2, 700, 294. 50 4, 722, 665. 00 4, 409, 4.50. 00 4, 468, 000. CO 27, 300, 000 68, 099,804. 00 4, 328, 000 3, 608, 000 5, 240, 000 1,000,000 7, 360, 000 6, 517, 793. 20 7,712,608.55 9, 903, 055. 00 12, 367,770, 75 10,732, 676. 50 1, 765, 468. 00 2, 692, 370. 00 5, 529, 025. 00 6, 808, 300. 00 21, 536, 000 64, 019, 067. 00 . . Total 1873. . . O n e dollar . T w o dollars F i v e dollars T e n dollars . . T w e n t y dollars F i f t y dollars One h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars F i v e t h o u s a n d dollars T e n t h o u s a n d dollars 6,284,000 8, 216, 000 4, 560, 000 5,160, 000 3, 080,000 . . . . . . 659, 483.40 649, 208.10 7,098, 604. 00 8, 424, 505. 50 10 184 976.50 2,700 294.50 4, 722, 665. 00 4, 409, 450. 00 4, 468, 000. 00 1,208,691.50 42 008 495.50 2,389,793.20 4 104 608.55 4 663 055.00 11 367,770.75 3,'372, 676.60 1,755,468.00 2, 692, 370. 00 5, 529, 025. 00 6,808,300.00 • Total U n k n o w n d e n o m i n a t i o n s d e s t r o y e d in t h e g r e a t fire a t Chicao'o .. .. 42,483, 067. 00 1, 000, 000.00 Total 65, 019, 067. 00 1874. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fiftydollars O n e h u n d r e d dollars F i v e h u n d r e d dollars . . . . O n e t h o u s a n d dollara F i v e thousand dollars T e n t h o u s a n d dollars Total / ... 6, 143, 612 7, 6.57, 520 8, 635, 760 11, 705, 240 12, .258,400 2, 428, 276. 50 1, 877,418. 00 8, 384, 000 10, 090, 000 20,100, 000 8, 571, 888. 50 9, 534, 938. 00 8, 452, 272. 50 12, 273, 385. 00 8, 887, 230.00 2, 030, 775. 00 2, 695, 400. 00 34,118, 000. 00 7,840,000.00 12, 260, 000. 00 84, 974, 532 94, 403, 889. 00 21, 503, 257.50 183,'487. 50 5.8,145, 00 3, 371,170. 00 2, 030 775, 00 5, 688, 600. 00 24 028 000.00 30, 932, 614. 50 44 R E P O R T ON T H E FINANCES. No. 19.—ISSUES AND REDEMPTIONS O F U N I T E D STATES NOTES B Y DENOMINATIONS AND BY FISCAL YEARS—Continued. Denomination. Issued. 1875. One dollar .... Two dollars Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars Redeemed. $14; 626,156 $13, 690, 631. 50 10, 934, 400 16, 923, 616. 00 6, 926, 000 13,560,000 10,160, 000 8, 960, 700 3, 290, 000 27, 950, 000 7, 500, 000 . Total 19, 36, 30, 7, 10, 6, 27, 657, 201. 50 689, 380. 00 622, 828. 00 031, 850. 00 l l i , 500. 00 663, 000. 00 879, 000. 00 Increase in circulation. Decrease in circulation. $935, 524. 50 $.5, 989,116. 00 12 731 201. 50 23,129, 380. 00 20, 362, 828. OO 1, 028, 850, 00 6, 821, 500.00 22, 287, 000. 00 20, 379, 000. OO 103, 907, 256 169, 068, 907. 00 24, 251, 374.50 13, 444, 758 12, 792, 000 1.3,120, 000 11,156,000 12,384,000 10,151,000 5, 680, 000 12, 450, 000 200, OOO 12,85.5,120.60 11, 6.55, 842. 40 11,654,083.00 14, 905, 686.00 13, 187, 379. 00 5, 922,185. 00 9, 676, 760. 00 9, 379, .500. 00 7, 940, 500. 00 589, 637. 40 1,136,157. 60 1.465,919.00 91,177, 758 97,177, 0.54. 00 10,347, 399 9, 432, 000 14, 380, 000 7, 320, 000 8,160, 000 5, 983, 300 6, 985, 200 5, 733, 000 4, 500, 000 12, 994, 606.10 11,542,653.40 11, 3 50, 948. .50 12, 229, 152. 00 11, 931,466. 00 5, 559,15.5, 00 4, 796, 870. 00 5,617,000,00 6, 618, 000. 00 72,440.899. 82,448,853.00 • 7, 562, 3.51 6, 288, 000 15, 820, 000 11,380,000 9, 200, CCO 3,200,000 6, 408, 600 4, 817, 000 2, 600, 000 11, 792, 775. 00 10, 746, 878.00 36,111,867.00 13,763,063.00 9, 086, 654. 00 6, 267, 030.00 4,194,100. 00 4, 424, 000. 00 3, 973, OCO. 00 67, 275, 9.51 80, 359, 267. 00 6, 503,133 5, 892, 000 11, 060, 000 9, 280, 000 7,400,000 2, 400, 000 5, 007, 700 .5, 650, 000 3, 900, 000 4,005,000 3,010,000 9, 223, 0''26. 50 8, 710, 295. 00 11, 622, 443. 60 10,193, 082. 00 9,649,756.00 4,059,340.00 4, 593, 890. 00 3, 959, 000. 00 2, 042, 000. CO 5, 000. 00 .50, 000.00 413, 810. 00 1, 691, 000.00 3,858,000.00 4, 000, 000. 00 2, 960, 000.00 64,107, 833 64,107,833.00 10, 922, 810. CO 89, 413, 025. 50 1876. One dollar Two dollars Five dollars Ten dollai'S Twenty dollars Fifty dollars 1 One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars -" .• Total 3, 749, 686. 00 1, 003, 379. m 4, 228,815. 00 3 996 760 00 3, 070, 50O. 00 7, 740, 500. 00 10, 491,029. 00 16,490, 325, OO 1877. One dollar Two dollars Five dollars Ten doll ars . . . . . . Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thoiisand dollars Ten thousand dollars •. . Total -. . . . 2,847,207.30 2, 310, 653, 40 3, 020, 051. 50 4. 909,152. do 3, 771, 466, 00 424,145. 00 2,188,330.00 116,000. 00 2,118, 000. ®0. 5, 748, 526. 50 15, 756, 478. 50 1878. One dollar Two dollars.... Five dollars Ten dollars Twenty dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars - . 4, 230, 424.00 4, 458, 878.00 291, 867. 00 2, 383, 063. OO il3,'446."06' •3,067, OSO. ao 2. 214, 500.00 393, 000.00 1, 373, 000. 00 ... Total 2, 720, 946. 00 15, 804, 262. 00' 1879. One dollar Two dollars Five dollars Ten dollars Twentv dollars Fifty dollars One hundred dollars Five hundred dollars One thousand dollars Five thousand dollars Ten thousand dollars .. ... Total . 2,719,893.50 2,818,295.01^ 562, 443. 50 913,082.00 2, 249, 756. 013 1, 659, 340. ( ^ 10,922,830.^ 45 TREASURES. No. 19.—ISSUES AND R E D E M P T I O N S OF U N I T E D STATES NOTES B Y DENOMINATIONS AND BY FISCAL YEARS—Continued. Denomination. 1880. O n e dollar ... . . . . T w o dollars . . F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars . . . " One h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars F i v e thousand dollars T e n thousand dollars ... ... .. Total Issued. Redeemed. Increase in circulation. $9, 057, 863 8, 232, 000 19, 680, 000 16, 520, 000 17, 360, 000 1,400, 000 3, 052, 700 2, 300, 000 700,000 1, 000, 000 2, 000, 000 $6,935,511.80 5, 971, 840. 20 8, 354, 565. 00 6, 241, 811. 00 ,5, 687, 680. 00 2,114, 345. 00 2,293,310.00 15, 645, 500.00 19, 238, 000.00 4, 320, 000. 00 4, 500,000.00 $2,122,351.20 2,260,159.80 11, 325,435. CO 10, 278,189.00 11,672,320.00 81, 302, 563 81, 302, 563. 00 38,417, 845.00 9, 889, 034 8, 7.52, OOO 14, 760, 000 9,160, 000 6, 240, 000 1, 200, 000 2„944, 300 700, 000 900, 000 7, 575, 604'. 40 6, 860, 690.60 10, 623, 470. CO 7, 086, 364. 00 6,111,610.00 2,306, 085. 00 2,794,530.00 5, 354, 000. 00 5, 408, 000. 00 225, 000, 00 200, 000, 00 54, 545, 334 54, 545, 334. 00 10, 693, 085.00 11,445,524 10,472, 000 14, 280, 000 6, 680, 000 5, 680, 000 3, 200, 000 4, 527, 900 1,7.50,000 1, 500, 000 4, 995, 000 14, 990, 000 8, 370, 332. 00 8, 093, 497. 00 16, 506, 538. CO 10, 885, 621.00 9. 294,126.00 2,711,140.00 3, 008,170. 00 1,444, 000. 00 1,189, 000.00 5, 030, 000.00 12, 990, 000.00 3, 075,192.00 2, 378, 503.00 79, 520, 424 79, 520, 424. 00 10, 081, 285.00 11, 986,114 9, 672, 000 22, 860, 000. 14, 240, 000 6, 000, 000 3, 900, 000 4, 356, 600 2, 350, 000 4, 400, 000 10,000,000 20, 000, 000 9, 970, 610. 80 8, 770, 231. 20 19, 052, 455. 00 14, 291, 880. CO 12,210,562.00 4, 205, 875.00 4, 523, 600. 00 2,127, 500. 00 2,407,000.00 10,105, 000. CO 22,100, 000. 00 2,015,503.20 901, 768. 80 3, 807, 545. 00. 109, 764, 714 109, 764, 714. 00 8, 940, 317. 00 Decrease in circulation. ------$714 346 00 759, 390.00 13, 345 500. 00 18, 538, 000.00 3,320,000.00 2 500 000.00 38, 417, 845. 09 1881. O n e dollar T w o dollars F i v e dollars T e n doUii.rs T w e n t y dollars . F i f i y dollars : O n e ' h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars F i v e thousand dollars ^ e n thousand dollars . . . . . ..^. ... . . . . Total 2, 313, 429, 60 • 1, 891, 309, 40 4,136, 530. 00 2, 073, 636.00 128,390.00 1,106, 085.00 149,790.00 4, 654, 000, 00 4, 508, 000.00 225, CCO. 00 200 COO. 00 10, 693, 085.00 1882. One dollar Tvro "dollars Fi"ve d o l l a r s Ten dollars' T w e n t y dollars Fifty dollars O n e h u n d r e d dollars . . . . . . . . . . . . F i v e h u n d r e d dollars . . . . . . . . . . . . . . . . . . O n e t h o u s a n d dollars F i v e thousand dollars T e n t h o u s a n d dollars Total 2, 226, 538.00 4 205 621. 00 3, 614,126.00 488, 860. 00 1, 521, 730. 00 306, 000.00 311, 000. 00 •* 35, 000.00 2,000, 000.00 10, 081, 285.00 1883. One dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y d 0 liars One h u n d r e d dollars . . . . . . . . . F i v e h u n d r e d dollars One thousand dollars F i v e t h o u s a n d dollars : T e n thousand dollars .. .... Total 1884. •. O n e dollar T w o dollars F i v e dollars T e n dollars T w e u t y dollars F i f t y dollar's O n e h u n d r e d dollars F i v e h u n d r e d dollars One thousand dollars F i v e thousand dollars T e n t h o u s a n d dollars Total... . 8, 943, 236 10,019,508.00 7, 808, 000 8, 434, 508. 00 23,420, COO 39,017,170.00 32,160,000 ; 15,365,870.00 9, 280, 000 13, 672, 280. 00 4,2U0,000 4, 877, 000. 00 5, 237, 000 5, 898,4'iO. 00 4, 900, 000 3, 084, 500. CO 10, 000, 000 5, 294, 000. CO 1S5, 000. 00 100, 000. 00 85, 948, 236 85, 948, 236, 00 51,880.00 6, 210, 562. 00 305, 875. 00 167, 000. 00 222,500.00 1,993,000.00 105, 000. 00 2,100,000.00 8, 940, 317. 00 1, 076, 272. 00 626, 508. 00 4,402,830.00 3, 205, 870. 00 4, 392, 280.00 677 000 00 661, 400. 00 1, 81-5, 500. 00 4, 706, 000. CO 185 000.00 100, 000. 00 10, 924, 330. 00 10, 924, 330. 00 46 REPORT ON T H E FINANCES. No. 19.—ISSUES AND R E D E M P T I O N S O F U N I T E D STATES N O T E S B Y DENOMINATIONS AND BY F I S C A L YEARS—Continued. Denomination. 1885. One dollar . . . . . . . . . . . . . . . . . . . . . . . . . . Two dollars Five dollars Ten dollars .... ........ Twenty dollars --.•Fifty dollars One hundred dollars . - . . . Five hundred dollars . . . . . . . . . . One thousand dollars Five thousand dollars Ten thousand dollars . Total Issued. Redeemed. $10,187,153 10,856, 000 19, 300, 000 9, 640, 000 9, 760, 000 4, 800, 000 5,000, 000 2, 350, 000 12, 000, 000 $11, 895, 276. 00 10, 458, 817. CO 18, 855,110. 00 14, 627, 630. 00 12, 688,120. 00 4, 549, 000. 00 6, 344, 200. CO 2, 707, 000.00 2, 318, 000. 00 30, 000. 00 20, 000. 00 84,498,153 84,493,153. 00 Increase in circulation. Decrease in circulation. $1,708,123.00 $397,183, CO 444, 890.00 4, 987, 630. 00 2,928,120. 00 251, 000.00 744 200 00 357, 000. 00 9, 682, 000. 00 30, 000. 00 20, 000. 00 10, 775, 073. 00 , 10,775,073.00 1886. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars F i f t y dollars One h u n d r e d dollars F i v e hundred dollars One thousand dollars F i v e thousand dollars T e n t h o u s a n d dollars 7,348,139.00 7, 090, 700. 00 21,320,000 9, 631, 414. 00 11, 688, 586. 00 9, 960, 000 . 7,840,725,00 2,119,275.00 7,120, 000 7,168,130. 00 2, 000, 000 2,168, 630. 00 4, 700, 000 6, 237, 090. 00 400, 000 4, 533, 000. 00 17, 500, 000 8, 855, 000. 00 "'8,*645,"000.'00" 40, 000.00 30, 000, CO .. . Total 63, 000, 000 63, 000, 000. CO 20.395,689,00 7, 348,139.00 7, 090, 700.0© 48,130. 00 168, 630. 00 1, 537, 090. 00 4,133, 000. 00 40 000 00 30, 000. 00 20, 395, 689. 00 1887. One dollar . . . T w o dollars .... . . . . . F i v e dollars T e n dollars TAventy d o l l a r s . . . . .. . . . F i f t y dollars One h u n d r e d dollars . . . . . . . F i v e h u n d r e d dollara One t h o u s a n d dollars . F i v e t h o u s a n d dollars T e n thousand dollars . Total 216, 740, 000 22, 640, 000 16, 240, OCO 2,000,000 2, 800, 000 3,648,000 74, 068, 000 8, 806, 546. 00 9,19.5, 798. 00 17, 304, 368. 00 8, 927,190. 00 7, 389, 018. CO 3, 382, 280. 00 4, 516, 300. 00 4, 719, 500. 00 9,832,000,00 15, 000.00 74. 068, 000. .00 8, 806, 546.00 9,195, 798. 00 9, 435, 632, 00 13, 712, 810, 00 8, 850, 982. 00 1, 382, 280. 00 1,716 300.00 4, 719, 500. 00 6,164, 000.00 15, 000.00 31, 999, 424. 00 31, 999, 424. 00 1888. O n e dollar T w o dollars ......._. F i v e dollars ' T e n dollars T w e n t y dollars -. Fiftydollars O n e h u n d r e d dollara F i v e hundred dollars O n e t h o u s a n d dollars . . . . F i v e t h o u s a n d dollars Total . . 3, 617,144. 00 4,033,636.00 7,300,000 21, 309, 978. 00 17, 000, 000 '^11,307,070,00 28, 800, 000 7, 915, 437, 00 2, 800, 000 2, 838, 435. 00 3, 439, 300. 00 4, 9U0, 000 1,136, .500, 00 1,.500, OOC 8, 246, 500. 00 3,352,000 10, 000. CO 63, 652, CCO 63, 652, 000.00 3, 617,144. 00 4, 031, 636 00 14, 009, 978. 00 5, 892, 930. 00 20, 884, 563. 00 38,435.00 1, 460, 700. 00 363, 500. 00 6, 894, 500. 00 10, 000. 0028, 601, 693. 00 28, 601, 693. 00 47 TREASURER. No. 20.—-UNITED STATES N O T E S OUTSTANDING AND R E D E E M E D AND PERCENTAG3E. OP R E D E M P T I O N S , FROM T H E F I R S T YEAR A F T E R T H E ISSUE CEASED. NEW-ISSUE. c Percentage Fiscal year. Denomination. 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 O n e dollar 1 Outstanding. Redeemed, $5,550,8.59.60 3, 032, 581.45 '"$2," 518,'278.'is" 1,902,011.50 1,130,569.95 1, 385, 728.00 516,283.50 1, 098, 741.50 286, 986. 50 984,149.05 134,592.45 924, 956.25 59,192. 80 886, 378. 85 38. 577.40 858, 650.15 27, 728.70 840, 917.55 17, 732.60 825, 902.45 1.5. 016.10 833,696.85 32, 205. 60 803, 880, 35 9, 816.50 796, 425. 35 7,456.00 790,917.85 5, 507. 60 787, 042.15 3. 875.70 783, 604. 35 3,437. 80 779. 992.00 3, 612.35 Of outstanding previous year. redeemed. Of outstanding first y e a r . 45."367' 37.281 27.144 20.710 10.429 6.015 4.171 ' • 3.128 2.065 1. 786 L478 L206 .927 .692 .490 .437 .461 45.'367 20.367 9.301 5. i n 2.064 1.0,66 .695 .499 .319 . .270^ .220" .177 . .134 .099.070.062 .065 7, 653, 349.65 4, 012, 652. 05 '"'3,"640,'697.'60" ' " " " 4 7 . ' 5 7 0 ' 2, 345, 815.00 1,666,837.05 41.540 1, 554, 050.00 791,765. 00 33.762 1, 087, 037.00 * 467,013.00 30.051 900, 792.20 186, 244.80 17.133 809, 798. 00 90, 994.20 10.101 751,866.40 57,931.60 7.154 710,966.60 40, 899. 80 " 5.440 • 684,899.20 26, 067.40 3.666 663, 480.80 21,418.40 3.127 646, 282.40 17,198.40 2.592 631, 674. 20 14, 608.20 2.260 620,966.20 10, 708.00 L695 612, 424. 20 8, 542.00 . 1.376 606, 003.20 6, 421. 00 1.048 600, 388.60 5, 614. 60 .926 595, 417. 00 4, 971. 60 .828 47.'.57b' 21.779 10.345 6.102 2.433 1.189 .757 .534 .341 .280 .225^ .191 .UO .112 . 084 .073; .065 T w o dollars 1871 1872 1873 1874 1875 3876 1877 1878 1879 1880 1881 3882 1883 1884 1885 1886 1887 1888 F i v e dollars 1871 ' 1872 1873 1874 1875 1876 1877 1878 1879 .1880 1881 1882 1883 1884 1885 1886 1887 1888 37, 0.57,743. 00 25, 579, 238. 25 " i i , " 478,'504.'75 16,503, 237. 50 9, 076, 000.75 10,723,300,00 5, 779, 937. 50 6,191, 691. 50 4, 531, 608.50 3, 999, 005. 75 2,192, 685. 75 2,913,630.75 1, 08.5, 375. 00 2, 307, 392, 75 606, 238. 00 3,893,803,25 413, 589. 50 1, 625, 929, 25 267, 874. 00 1, 405, 249, 75 • 220, 679. 60 1,187, 808.75 217, 441. 00 997, 028. 7.5^ 190, 780. CO 844, 628. 75 152, 400. 00 729. ?86. 25 3114, 742.50 653, 535. 75 76, 370. 50 696, 076. 25 57, 439. 50 542, 950. 00 • 53,126. 25 30.* 975' 35. 482 35.023 42. 259 35, 413 27.141 20. 807 17, 924 14.145 13, 573 15, 473 16, 062 15,285 13, 585 10. 463 8.789 8.913 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 49, 536,106.25 36, 577,227. 75 25, 990, 230. 00 18, 781, 720. 00 12, 693, 530. 00 9, 387,167. CO 7, 636, 242. 00 6, 645,1.57. 00 5, 956, 497. 00 5,543,071,00 5,189,809.00 4, 807, 879, 00 4, 446, 304. 00 4,141. 664. 00 26.'i66' '"""""26.'360' 28, 944 21. 372 27. 735 14.552 32,416 12. 290 26, 048 °6. 675 18. 652 3.535 32,980 2.001 10, 363 1.390 6,974 .839 6. 339 • .709 7.3.59 .771 7.520 .730 6.852 .'615 ; T e n dollars 1 "ii," 958,'878." 50 10, 586, 997, 75 7, 208, 510, 00 6, 088,190, 00 S; 306,363, 00 1, 750, 925, CO 991,085,00 688, 660, 00 415, 426, 00 351, 262. 00 381, 930, 00 361, .576.00 304. 640. 00 30.'975 24. 491 15. 597 12,228 5.917 2, 929 1.636 1.11& .723 .595 .587 .515 .411 .330 .206 . 155 .143 48 R E P O R T ON T H E FINANCES. No, 2 0 . — U N I T E D STATES N O T E S OUTSTANDING AND R E D E E M E D AND P E R C E N T A G E OF R E D E M P T I O N S , ETC.—Continued. N E W ISSUE—Continued. Percentage redeemed. 0 Fiscal year. Denomination. 904, 750, 634, 526, 269. 00 684. 00 247. 00 891. 00 Of outstariding previous year. Of outstanding first y e a r . 1885 1886 1887 1888 ...... 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 47, 545. 662. CO • 34, 474; 763. 00 "i3,'070,'899."00' . 24,275,500.00 10,199, 263. 00 17,189. 740. 00 7, 085, 760. 00 11, SOS; 656. CO 6, 886, 084. 00 8,102, 339. 00 3, 201, 317. 00 6,343,501.00 1, 758, 838. 00 5, 314, 925. 00 1, 028, 576. 00 4, 634, 333. 00 680, 592. 00 4, 217, 519. 00 416.814.00 3, 851,193. 00 366, 326. 00 3,461,701.00 389, 492. 00 3, 086, 641, 00 375, 060. 00 2,757,903.00 328,740.00 2, 498, 331, 00 . 259, 770. 00 2, 339, 887. 00 178, 244. 00 2,186,153. 00 133, 734. 00 2, 062, 034. 00 124,139. CO 27.'49i" 29. [-85 29.189 34. 241 28. 321 21. 708 16. 215 12.805 8.994 8.686 10.114 10. 835 10. 650 9.419 7.135 5. 765 5.678 1871 1872 1873 •1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 18?^5 1886 1887 1888 6, 576, 587. 50 4, 049, 515. 60 "'2,'527,*672.'6o" 2, 704, 800.00 1, 344, 735. 50 1, 888, 07.5. 00 816, 72.5. CO 1, 299, 926. 00 588, 160. 00 989,125. 00 310, 800. 00 814, 645. 00 174, 480. 00 697, 245. 00 117,400.00 613,630.00 83, 635. 00 557, 715. 00 65,.895, 00 6I3; 715. 00 44, 000, 00 465, 965. 00 47, 750, 00 423, 765. 00 42, 200. CO .382,265.00 41, .500. 00 350,215. 00 32, 060. 00 339,315.00 30, 900. 00 299, 315. 00 20, 000. 00 282,125. 00 17,190. 00 38." 425" 33.207 30.195 31.151 23. 909 17. 640 14.411 11.995 9.109 7. 890 9. 295 9.056 9.793 8.384 8.823 6.263 5. 743 38." 425 20.447 12.419 8.943 4.726 2.663 1.785 1.272 .850 .669 .726 .642 .631 .487 .470 .304 .261 4i."38i' 36. 572 31.611 32.913 22. 703 17. 823 13.286 11.468 10.445 8.523 9. 662 8.128 8.655 7. 745 13. 985 6.081 5.562 4i.'38i 21. 447 11.760 8,367 3.872 2.349 1.439 1.077 .869 .635 .658 .500 . 489 .400 .666 .249 .214 4.5." 642" 35.663 32,747 36.451 15,152 11.020 19,151 32,270 45,'642 19. 386 11.453 8.573 2.265 1,398 2,160 1.119 Fifty dollars One hundred dollars / • . Five hundred dollars "; , $3, 3, 3, 3, Redeemed. i.. Ten dollars Twenty d o l l a r s . . . . . . . . . . . . Outstanding. -- $237, 395. 00 153, 585.00 116, 437. 00 107, 356. 00^ 1871 1872 1873 1874 • 1875 1876 1877 1878 1879 1880 a;881 1882 3.883 1884 1885 1886 1887 1888 11, 074, 435. 00 6,491,765.00 "4,'582,'670.'60 4,116, 600. 00 2, 375,165. 00 2, 815, 300. 00 1, 301, 300. 00 1, 888, 700. 00 926, COO. 00 1, 459, 900,00 428, 800. 00 1,199, 710.00 • 260,190. 00 1,040,330.00 159, 400. 00 921,010.00 119, 300.00 824, 810. 00 96, 200.00 7.54, 510. 00 70, 300. CO 681,610.00 72, 900. 00 626, 210. 00 55, 400. 00 572, 010.00 54, 200. CO 527, 710. 00 44, 300. 00 453, 910.00 73, 800. 00 426, 310. CO 27, 600 00 402, 600.00 23,710.00 1871 1872 1873 1874 1875 , 1876 1877 1878 1879 7,727,475.00 4, 200, 525. 00 "'3,'526," 950." 60' 2, 702, 500.00 1, 498, 02.5. CO 1, 817, 500. 00 88.5, 000. 00 1,155, 000. 00 662, 500. 00 980, 000. 00 175, 000. 00 872, 000. 00 108, 000. CO • 705, 000.00 167, 000. 00 618, 500.00 86, 500. 00 5.732 3.934 3.304 2.954 .479 .310 .235 .219 • •; 27." 491 21. 451 14. 903 12, 380 6,733 3,699 2.163 1.431 .877. .770 .819 .789 .691 .646 .375 .280 .261 49 TREASURER. No. 2 0 . — U N I T E D STATES N O T E S OUTSTANDING AND R E D E E M E D AND P E R C E N T A G E OF REDEMPTIONS, ETC.—Continued. N E W ISSUE—Continued. Percentage redeemed. Fiscal year. Denomination. Outstanding. Redeemed. Of outstanding previous year. Of outstanding first v e a r . F i v e h u n d r e d dollars 1880 1881 1882 1883 1884 1885 1886. 1887 1888 $506, 000. 00 474, 500. 00 420, 000. CO 398, 000. 00 377, 000. 00 359, 000. 00 260, 500. 00 243, 000, 00 232,000.00 $112, 500. 00 31,500.00 54, 500. CO 22, 000. 00 21,000,00 18, 000, 00 98, 500, 00 17, 500.00 11,000,00 18,189 6. 225 11.486 5, 238 6.276 4.775 27,437 6.718 4. 527 1.456 .408 .705 .285 .272 .233 1.276 .226 .142 One t h o u s a n d d o l l a r s 3871 1872 1873 1874 3875 1876 1877 1878 1879 1880 3881 1882. 1883 3884 1885 1886 1887 1888 9, 084, 300. 00 4, 853, 300. 00 3, 217, 000. CO 2,243,000.00 1. 369, 000, 00 1,192,500,00 1,110,500.00 898, 500. CO 812, 500. 00 669, 500. 00 626, 500. 00 544, 500. 00 611, 500, 00 490, 500, 00 468, 500, 00 236, 500. CO 215, 500. 00 206, 000. 00 4,231,000.00 1, 636, 300. 00 974, 000. 00 874, 000. 00 176, 500. 00 82, 000, 00 212, 000. 00 86, 000. 00 143, 000. 00 43,000.00 82, 000. 00 33, OOO, 00 2.1, OOO, 00 22, 000. 00 232, 000. 00 21, 000. 00 9, 500. 00 46. 576 33,715 30.277 38. 966 12. 893 6.876 19.,090 9.572 17.600 6.423 13. 088 6.061 4.106 4.485/ 49. 520 8.879 4.408 46. 576 18.012 10. 722 9.621 1.943 ^ . . 903 2.334 .947 1.574 .473 .903 .363 .231 .242 2.554 .231 . 104 $3, 524, 345. 90 1, 673, 539. 50 725, 889. 40 321,442.30 180, 009. 20 112,110.40 74, 980. 60 47, 540, 00 36, 852. 00 21, 602. 80 21, 750. 20 19, 976. 25 49, 203 • 45,995 , 36.941 25, 941 19, 616 35.398 11.986 8.635 7.326 4. 634 4.892 4. 724. 49. 203 23. 364 10, 134 4,488 2.513 1.565 1.047 .664 .53.4 .302 .304 .279 ISSUE OF 1869. O n e dollar T wo dollara ' r ., I F i v e dollars H. Exo 2 4 1876 1877 1878 1879 1880 1881 1882 1883 1884 3885 3886 1887 1888 $7,162, 885. 05 3, 038. 539.15 1, 964, 999. 65 1,239,110,25 917, 667, 95 737, 658.75 625, 548, 35 550, 567, 75 503, 027. 76 466,175. 76 444, 572. 95 422,822.75 402, 846. 50 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 10, 403, 831. 20 5, 585,3.42. 60 ""4,'8i8,*688."60" 3, 014, 524. 60 2, 570, 618. 00 1,744,799.00 1, 269, 72.5. 60 1,180, 027. 80 564, 771.20 878, 373. 00 303,654.80 700, 345. 40 178, 027. 60 589, 084. 40 111, 261. 00 521, 752. 40 67, 332. 00 471,111.40 50, 641. 00 441, 227. 60 29, 883. 80 410, 576. 40 30, 651.20 385, 794. 00 24, 782. 40 46.'3i6' ' " " " " 4 6 , ' 3 i 6 46. 026 24. 708 42.120 12.204 32. 369 5.428 26. 563 2,898 20.268 1.711 15. 887 1.069 11.430 .647 9.706 . .487 6. 343 -.287 6.947 .295 6.036 .238 1876 1877 1878 1879 1880 1881 « 1882 1883 1884 29, 769, 073. 75 22,331,353.25 "'7,'637,'720."50' 16, 848, 338. 75 5, 283, 03.4, 50 12, 753, 334. 754, 095, 004. 00 10, 582, 914,25 2,170, 420.60 8, 558, 595. 25 2, 024, 319, 00 6, 270, 991, 25 2, 287, 604. 00 4, 275, 348, 75 1, 995, 642.50 2, 899, 728. 75 1, 375, 620. CO 25.'657' " " " ' " 2 5 . " 657 23.871 17. 747 24.305 13. 766 17. 018 7.291 19.128 6.800 26. 729 7.684 31. 823 6, 704 32.176 4.621 '50 No. R E P O R T ON T H E 20.—UNITED STATES NOTES FINANCES. OUTSTANDIXG AND R E D E E M E D AND PERCENTAGE OF REDEMPTIO.NTS, ETC.—Continued. ISSUE OF 1869-Contiuued, Percentage redeemed. Fiscal year. Denomination. 3885 1886 . 3887 1888 F i v e doUars T.JL.eKJLI. n VlV/ii.CVA. dollarsK 3 . . . . . . . . . . . . . . . . . . . . . . . . . . T w e n t y dollars ' F i f t y dollars ^ O n e h u n d r e d dollara . \ ^ l ± \ J i.t U . 1 J \ A 1 . V V ^ \A\H±CVX. O . . . . . m m F i v e h u n d r e d dollars - . . . . . . . . . . Outstnnding, $2,011,641.25 1, 581,5f.i0. 75 3,281,74.3.25 1. 052, 202. 50 Pk-edeemed. $88^, 087. 50 430, 080. 50 299, 817. 50 229, 540. 75 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 45, 093, 373. 00 37,231,848.00 ""7," 861." 52.5." 00 30, 524, 324. 00 6, 707, 5-24. 00 27, 167, 585. 00 3, 356, 739. 00 24-, 187, 000. 00 2, 980, 585. 00 2J3, SCR, 406. 00 3, 818, 594. 00 15. 997, 296. CO 4, 373, 110. 00 11, 9-28,166. 00 4, 069,130. 00 8, 479, 866. 00 3, 448, 300. 00 6, 605, 001. 00 1, 874, 865. 00 5, 383, 696. 00 1,421,306.00 4,007,200.00 1,176, 495. 00 ^ 1877 1878 1879 1880 3881 1882 1883 3884 1885 1886 1887 1888 41, 973, 350. 00 3.5, .50.5, 818.00 """6,467." 50 2.'66 29, 386, 350. 00 6,119, 498. 00 26, 388,106. OG 2, 998, 244. 00 23, 838, 002. 00 2,5.50,304.00 20, 612, 668. 00 3, 225, 334. 00 16, 839,166. 00 3, 773, 502. 00 13, 066, 686. 00 3, 772, 480. 00 9, 666, 996. 00 3, 399. 690. 00 7, 798, 078. CO 1,868, 918. CO 6, 301, 534, 00 3,496,544.00 4, 959, 530. 00 1, 342, 004. 00 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 17, 552, 360. 00 13,3.57,365,00 '"4,'395,"385.'66' 7.088,885.00 6,068, 280. 00 5, 239, 890. CO 1, 848, 995. 00 4,456, 820, 00 783, 070. 00 3, 885, 950, 00 570, 870. 00 3, 365, 3.55. 00 520, 595. 00 2, 789, 505. 00 575, 850. 00 2,251,35.5.00 538, 350. 00 1, 769, 980. 00 491,375.00 1,472,540.00 287, 440. 00 1, 245, 675. 00 226, 86.5. 00 1, 072, 975. 00 172, 700.00 1876 1877 1878 3879 1880 1881 1882 1883 1884 1885 1886 1887 1888- 20,388,440.00 16. 246, 760. 00 '"4," iii," 680.'66 13, 429, 460. 00 2, 817, 300. 00 10, 789, 870. 00 2, 639, 590. 00 9, 494, 420. 00 1,295,450.00 8, 424, 850. 00 1, 069, 570. 00 7, 504, 050. 00 920, 800. 00 6, 402, 050. 00 1,102, 000. 00 5,1.58, 750. 00 1, 243, 300. 00 3, 861, 350. 00 1, 297, 400. 00 3, 204, 750. 00 656, 600. 00 2, 710, 500. 00 494, 250. 00 2, 306, 000. 00 404, 500. 00 1876 3877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 1, 402, 500. 00 957, COO, 00 764, .500.00 640, 500. 00 548, 500. 00 447, 000. 00 403, 500. 00 364, 000, 00 332, COO. 00 315,500,00 278, 000, 00 263, 000, 00 257, 500. 00 Ofoutstandinir previous year. Of outstanding first year-. 30,627 21.380 18,957 17. 9u8 2. 983 1.445 1.007 .771 i7."434' 18. 016 10. 997 10,971 15.788 21. 460 25. 436 28, 909 22.110 21, 519 22,696 3 7." 434 3.4.875 7. 444 6. 610 . 8.468 9.693 9.024 7.647 4.168 3.152 2.609 "*""3*5,'469" 17, 235 10. 203 9,664 3 3 . 530 18. 307 22, 403 26.018 39.333 19, 191 21. 296 3 5." 469 14. 579 7.143 6,076 7,684 8.990 8, 988 8,300 4,453 3.565 3.197 25." 646" " " " 2 5 , " 6 4 6 46.121 34, 572 26. 083 10,534 14. 944 4,461 12. 809 3, 252 13. 397 2.966 17. I l l 3 280 39.299 3.067 21.819 2.798 16. 332 1.638 15.406 1, 293 13. 864 .984 26."334" ' 17. 341 19.655 12. 006 • 11.265 10.930 14. 685 19.420 25.150 17. 004 15. 422 • 14. 923 445," 566.'66" '"•"si.'765* ] 92, 500.00 20.335 124, 000. CO 16. 220 92, 000. 00 14. 364 101,.500.00 18.505 43, 500. 00 9. 732 39, 500, 00 9.789 32, 000. 00 8. 791 16, 500. 00 4.970 37, 500. 00 11. 886 15, 000. 00 5. 396 5, 500. 00 2.091 26.'3i4 13. 813 12.947 • 6.354 6,246 4.536 5. 405 6.098 6.363 3. 220 2. 424 1.984 3i.'765 13. 725 8.841 6.560 7.237 3.102 2.816 2. 282 1.176 2.674 1. 070 .392 51 TREASURER. iNo. 2 0 . — U N I T E D STATES N O T E S OUTSTANDING AND R E D E E M E D AND P E R C E N T A G E OF REDEMPTIONS; ETC.—Continued. ISSUE OF 1869—Continued. Percentage redeemed. Fiscal year. Denomination. • Outstanding. .1877 $33, 475, 000. 00 1878 29,721,000.00 1879 27, 951, 000. 00 1880 13,672,000.00 1881 7, 610, 000. 00 1882 6, 824, 000. 00 1883 5,371,000.00 3884 , 3, 856, 000. 00 1885 . 2, 595, 000. lO 3886 1. 983, 000. 00 1887 1, 462, 000 00 1888 i, 326, 000. 00 One thousand dollars Redeemed. Of outstanding previous year. Of outstanding first y^ear. $2,754,666.66 1, 770, 000. 00 16, 279, 000. 00 4, 062, 000. 00 786, 000. 00 1, 453, 000. 00 1,516,000.00 1, 261, 000, 00 612, 000, no 521, 000. CO 136, 000, 00 11.214 6, 955 58, 241 34. 801 10. 329 21. 292 28, 207 32. 702 23, 584 26. 273 9,302 11. 214 5. 288 48. 630 12.134 2. 348 4.341 4. .526 3.767 1.828 1.556 .406 $1,605,150.20 625, 757. 20 260, 307. 00 128,366.00 67,125. 60 37, 270. 00 25, 702. 50 14, 392. 00 13,102. 30 18, 560. 60 54. 521 46. 735 37. 761 28. 874 21. 261 14.992 12.163 7.753 7.652 11. 738 54. 521 21, 255 9.147 4.353 2.280 1.266 .878 .489 .445 .630 56.'649" 53.897 49.446 44.179 36. 889 28. 614 20.531 17.337 10.930 10,729 12, 806 56."649 26. 922 11.387 6.143 2.397 1.174 .601 . .403 .210 .184 .196 ISSUE OF 1874. "One dollar • ' • ' T w o dollars .' (Fifty d o l l a r s / '. ( F i v e h u n d r e d dollars ^> ' 1878 1879 1880 38811882 1883 1884 1885 1886 3887 1888 $2, 944, 099. 40 1, 338, 949. 20 713,192.00 443, 885. 00 315, 719. 00 248, 593. 40 •^11,323.40 185, 620. 90 171, 228. 90 158,126. 60 139, 566. 00 1877' 1878 1879 3880 1881 1882 1883 1884 1885 1886 1887 1888 8, 037, 865. 00 4, 014,983. 60 "'4,'622,"88i.'46" 1, 851, 02.5. 80 2,163, 967. 8(f 935, 767. 00 916, 258. 80 522, 351. 00 413,416.00 329, 659. 00 192, 692. 00 235, 332. 00 94, 327.00 . 187,016.00 48, 316, 00 . 154, 693. 00 32, 423. 00 137, 606. 20 16, 896. 80 122, 922. 60 14, 773. 60 107.181.00 15, 741. 60 1878 1879 1880 1881 3882 1883 1884 1885 1886 1887 1888 16 477 900. CO 14, 615, 040. CO '""i,"862,'866."66" 13. 586, 355. 00 1, 028, 685. 00 12, 347, 585. 00 1, 238, 770. 00 11, 017, 940. 00 1, 329, 645. 00 9,110, 240. 00 1, 907, 700. 00 7,114,490.00 1, 995, 760. 00 5, 2.>^3,215. 00 1. 821, 275, 00 4, 510, 370. 00 • 783, 045, CO 3, 696, 025. 00 814,345.00 2, 980,750. 00 715,275.00 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 20, 233, 500. 00 17, 483, 500. 00 "'2,'856,"o66."66' 14, 084, 500. 00 3, 398, 000. 00 13, 032, 000. 00 1, 053, 500. 00 6, 706, 000, 00 6, 326, 000, 00 4, 656, 500. 00 2,149, 500, 00 4, 077, 000. 00 479, 500. 00 3, 409, 500. 00 667, 500. 00 2, 608, 000. 00 801, 500. CO 1, 778, 500. 00 829, 500. 00 1,164, 500. 00 61.4, 000. 00 ^ 633, 500. 00 ' 531,000.00 500. 000. 00 133, 500. 00 • * ii.'365 7.039 9.118 10. 768 • 17.314 21.907 25. 600 14. 793 18. 051 19. 353 . i4".'686" 19. 435 7.480 48. 642 32, 053 10. 500 16. 372 23. 508 31.806 34.523 45. 599 21.073 ii.'365 6. 243 7.612 8.069 11. 577 12,132 11. 053 4,762 4.941 4.341 . i4,'686 16, 794 5. 207 31. 265 10. 623 2, 370 3.299 3.961 4.300 3, 035 2. 624 .660 52 R E P O R T ON T H E FINANCES. No. 20.—UNITED STATES N O T E S - O U T S T A N D I N G AND R E D E E M E D A N D P E R C E N T A G E OF R E D E M P T I O N S , ETC.—Continued. ISSUE OF 1875. Percentage) redeemed. Fiscal year. Denomination. One dollar.: T w o dollars 1879 3880 1881 1882 1883 1884 3885 3886 3887 1888 - i F i v e dollars T e n dollars T w e n t y dollars ', • .Fifty dollars = Outstanding. Redeemed. Of outstanding previous year. Of outstanding first y e a r . \ . $9, 251, 766. 20 5, 377, 945.80 "$3," 873," 820." 46' 2, 807, 348. 20 2, 570, 597, 60 1, 395, 861. 60 1,411,496. 60 781, 712. 80 014,138.-80 . 528, 070. 80 253, 642. 00 397, 342. 80 130, 728. CO , • 339,157. 70 58,185.10 294,124. 20 45, 033. 50 255, 935.00 38, 389. 20 4i.'87i" 47, 799 50.279 43, 997 32.447 24,756 14. 644 13.278 12. 984 4i."87i 27.785' 15. 257 6.638 2. 742 1.413^ .629 .486 .413- 32." 335' 41. 989 60. 738 49.160 39.002 33. 630 21. 981 23. 672 17.743 32."335> 28.412 19. 916 9.506^ 3.834 2. 017 .875 .735' .422 3879 1880 1881 1882 1883 1884 1885 1886. 3887 1888 12, 8, 4, 2, 1, 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888> 31, 839i 517. 00 27,194, 810. 00 '"4,'644,'767.'66' " " " i 4 . " . 5 8 8 ' 22, 434, 069, CO • 4,760,741.00 17. 506 16,198, 976. 00 6, 235, 093. 00 27. 793 10, 276, 353. 60 6, 922, 622. 50 36. 562 6,181, 848. 50 4, 094, 505. 00 39, 844 3, 691, 218. 50 2, 490, 630. 00 40, 289 2, 558, 343. 50 1,132, 875. CO 30.691 1, 863, 876. 00 694, 467. 50 27.145 1,409,355.00 454, 521.00 24. 386 19. 583 , 18.595 12, 86^ 7. 822 3.558 2.181 1.42S- 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 19, 051, 816. CO .. 17, 434, 050. 00 "'i,'6i7,"766.'66' • 15, 717, 291. CO 1, 716, 759. 00 13,137, 964. CO 2, 579, 327.00 9, 958, 559. 00 3,179, 405.00 7, 028, 799. 00 2, 929, 760, 00 4, 637, 419. 00 2, 391, 380, 00 3,363,158.00 1, 276, 261, 00 2, 431, 072. 00 930, 086, CO 1, 744, 830. 00 686, 242. 00 8,'49i 9:011 13, 538 16, 688 15. 378^ . 12.552 ' 6:698 4, 882' 3. 602' 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888 20,122, 240. 00 18, 694, 202. 00 ""°i,"428,"638."66" 17, 248, 292. CO 1, 445, 910. CO 15, 09,1, 064. 00 2,157, 228. 00 12, 323, 854. 00 2, 767, 210. 00 9, 405, 574. CO 2, 918, 280. 00 6, 788, 874. 00 2,636,700.00 5, 365,170. 00 1,433, 704. CO 4,172, 808 00 1,182, 362. 00 3,145, 280. 00 1,027,528.00 1878 3 879 1880 1881 1882 1883 1884 1885 1886 1887 1888 235, 861. 80 279, 342. 20 "'3,"966,'5i9.'66' 802, 927. 80 3,476,414.40 366, 030. 40 2, 436, 897. 40 202, 899. 40 1,163,331.00 733,743.40 469,356, 00 486, 987. 40 246, 756, 00 379,944. 20 107, 043. 20 290, 004. 60 89, 939. 60 238, 550. 00 • 51, 454. 60 1, 923,100. 00 1, 824, 550. 00 1, 705, 750. CO 1, 571, 705. 00 1,402,820.00 1,155, 220. 00 883, 420. 00 622, 570. 00 515, 020. 00 401, 775. 00 301, COO. 00 , 98,'550.'66 ' 318, 800. 00 134, 045. 00 168, 885.00 247, 600. 00 271, 800,00 260, 850. 00 107, 550.00 113, 245.00 100, 775. 00 8.'49i' 9. 847 " 16.411 24.200 29. 420 34. 023 27. 521 27. 672 28. 228 ii'sss14. 952' 7."697" '"'"'"'7.'69T 7. 735 7.186 12. 507 10. 721 1 8 337 13. 75223.680 - 14.503-. 27, 821 13. 004 21,118 7.125 22. 079 5.876> 24, 624 5.106 5,'i25' ' " " " " " 5 . " 125 6, 511 6.178 7.858 6. 97010. 745 8. 782. 17. 650 12. 875 23.52814.135 29.527 13. 564 . 17.275 5. 593 21.988 5. 88S" 25. 082 5.240' 53 TREASURER. No. 2 0 . — U N I T E D NSTATES N O T E S OUTSTANDING AJ^D- R E D E E M E D AND PERCENTAGE OF R E D E M P T I O N S , ETC.—Continued. ISSUE OF 1875—Continued. Percentage redeemed. Denomination. One h u n d r e d d o l l a r s •Five h u n d r e d dollars - ^ Fiscal year. Outstanding. Redeemed. 1878 1879 1880 3 881 1882 1883 1884 1885 1886 1887 1888 $.14, 561, 200. 00 13,166, 000, 00 32,490,820.00 11,486,730.00 10, 445, 050, 00 8, 974, 450, 00 7,199, 2.50. 00 5,413,650.00 4, 333,150. 00 3, 598, 860. 00 2, 954, 600. 00 $3, 395, 200. 00 675,130. 00 1, 004, 090. 00 1, 041, 680. 00 1, 470, 600. 00 1, 775, 200. 00 1, 787, 600. 00 1, 078, 500. 00 734, 290. 00 644, 260. 00 . 5.128 9.582 8.039 9,069 14, 079 19. 781 24,830 19. 929 16. 946 17. 902 9,582 4.637 6, 89,6 7.164 10. 099 12.191 12.276 7.407 5,043 4.424 1879 1880 1881 1882 3 883 1884 1885 1886 1887 1888 18, 278, 500. 00 9, 299, 500. 00 6, 463, 500. 00 5, 878, 500. 00 5, 098, 500. 00 4, 020, 500. 00 • 3, 050, 000. 00 2, 305, 000, 00 • 1, 608, 000. 00 1,429, OuO. 00 8, 979, 000. CO 2, 836, 000. 00 585, 000. CO 780, 000. 00 1, 078, 000, 00 970, 500. 00 745, 000. 00 697, 000, 00 179, 000, 00 49,123 30,496 9,051 13. 269 21.143 24,139 24. 426 30, 239 31.132 49,123 15,615 3, 200 4, 267 6, 898 5,310 4,076 3.813 .979 Of outstanding previous year; Of o u t standing first y e a r ; ISSUE OF 1878. «One d o l l a r . . ^. T w o dollars / > •Five dollars T e n dollars 3880 1881 1882 1883 1884 1885 1886 • 1887 1888 $9, 765, 669. 70 6,026,614.20 '2,696,373.80 1,176, 203. 70 620, 582. 70 374, 766. 20 281, 825. 70 216, 925. 70 182,104. 00 .$3,739,055.50 3, 330, 440. 40 1,519,970.10 555, 621. 00 245, 816.50 92, 940. 50 64, 900, 00 34, 821.70 38, 288 55, 262 56, 375 47. 239 39. 611 24. 800 23. 028 16.052 38. 288 34.104 15, 564 5, 690 2.517 .952 .665 .357 1880 1883 1882 1883 1884 1885 1886 1887 1888 8, 832, 776. 80 6, 403, 528. 80 3, 005, 387,20 1, 202, 723. 20 672, 321. 20 311, 446.20 218, 8.54. 20 361,746.00 132. 476.00 2, 429, 248. 00 3, 398,141.60 1,802, 664,00 630, 402, 00 260, 875, CO 92, 592, 00 57.108. 20 29, 270.00 27. 503 53. 067 59. 981 52. 415 45. 582 29, 730 26, 094 18, 096 27.503 38.472 20.4097.137 2.953 1. 048 .647 .331 1881 1882 1883 1884 1885 1886 1887 1888 "26,l23/78ir00" 18, 942, 519. 00 11, 950,786...50 6, 946, 086. .50 3, 929, 959. 00 2, 598, 775. 00 1, 818; 871. 00 1, 344, 040. 00 6,381,262,00 6, 991, 732. 60 6, 004. 700. 00 3,016,127.50 1, 331.184. 00 779, 904.00 474, 831. 00 25,199 36. 910 41.878 43.422 S3.873 30. 010 26.106 25.199 .27. 609 19.763 11.910 5.257 3. 080 1.875 24,774, 045. 00 22, 996, 325. 00 19, 659, 370. 00 15, 086, 325. 00 10, 656, 495. 00 6, 993, 975.00 5,021,883.00 3, 581, 798. 00 2, 559, 610. 00 1, 777, 720. 00 3,336,955.00 4, 573, 045. 00 4, 429, 830. 00 3, 662, 520.00 1, 972, 092, 00 1,440,085.00 1,022,188.00 7.176 14.511 23.261 29. c 63 34.369 - 28.197 28. 676 28. 538 7.176 13.470 18.459 17. 881 14.784 7.960 5.813 4.126 1880 1881 1882 1883 3884 1885 3886 1887 1888 . ,# 54 R E P O R T ON T H E FINANCES. No. 2 0 . — U N I T E D STATES N O T E S OUTSTANDING AND R E D E E M E D AND PERCENTAGE;. OF R E D E M P T I O N S , E T C — C o n t i n u e d . ISSUE OF 1878~Continued. Percentage redeemed. Denomination. T w e n t y dollars F i f t y dollars One h u n d r e d dollars F i v e t h o u s a n d dollars Fiscal year. Outstanding. 1882 3883 3884 1885 3886 3887 1888 * $28, 212, 038.00 23, 365, 368. 00 17, 868, 8U8, 00 12, 776, 798 00 9, 992, 328.00 7,610,392,00 5, 554, 920. 00 $4, 846, 670. 00 5,496,560.00 5,092,010.00 2, 784, 470. 00 2, 382,136. CO 2, 055, 272. 00 17.179 23.524 28.497 21.793 23.840 27.007 17. no^19.483 18.049 9. 870> 8.444 7.285 7, 924, 215, 00 6, 334, 21.5, 00 4, 772, 765. 00 4, 030, 720, 00 3,3 65,230,00 2, 422, 400, 00 1, 610, OCO. 00 1, 541, 450. 00 742,045.00 865, 490. 00 742,830.00 20. 317 24.412 15.547,, 21.472 23. 468 20.317 19. 452! 9.36410, 922 9,374 3883 1884 1885 1886 1887 1888 15,948,280.00 13, 289, 980. 00 10, 378, 380. 00 7, 664, 990. 00 6, 293, 730, 00 5,038,1)00,00 2, 6.58, 300. 00 2,911,600.00 2, 713, 390. OO 1, 371, 260. 00 1, 274, 830. 00 16. 668 21. 908 26,146 17, 890 20. 256 16. 668-^ 18. 257 17. 014 8. 5987.994 1884 1885 1886 1887 1888 9, 576, 500, 00 8, 707, 500. 00 5, 925, 000. CO 3, 320, 000. CO 2, 663, 500. 00 8G9, 000. 00' 2, 782, 500. CO 2, 605, 000. 00 656, 500. 00 9.074 31. 955 43. 966 19. 774 9.074 29. 056^ 27.202 6.855 1884 1885 1886 3887 1888 34, 688, 000. 00 13, 691, 000. 00 9, 056, 000, 00 4, 379, 000, 00 3, 692, 000. 00 997, 000. 00 4, 63.5, 000. 00 4, 677, 000. 00 687, 000. 00 6, 788 33, 854 51, 645 15, 689 6.788 31. 656. 31. 842 4. 677 1883 1884 1885 1886 1887 1888 315, 000. 00 130, 000. 00 100, 000. 00 60, 000, 00 45, 000. 00 35. 000. 00 185,000.00 30,000.00 40, 000. 00 15, 000. 00 10, 000. 00 58. 730 23, 077 40, 000 25:000 22, 222 68. 730 9.524 12. 6984,762 3.175 1883 1884 1885 1886 1887 1888 160, 60, 40, 10, 10, 10, 100,000.00 20, 000. 00 30, 000. 00 62, 500 33, 333 75, 000 62. 56612. .50018, 750^- 1883 3884 1885 1886 ' 1887 1888 000, 00 000. 00 000. 00 000. 00 CCO. 00. 000. 00 Redeemed. Of outstanding previous year. Of outstanding first y e a r . • 9- 55 TREASURER. No. 21.- -UNITED Fiscal year. STATES C U R R E N C Y OF EACPI ISSUE OUTSTANDING OF EACH FISCAL YEAR FROM 1 8 6 2 TO 1 8 8 8 . Old d e m a n d notes. United States notes. Ono a n d t w o year notes. Compoundinterest notes. 1862 $51, 305, 235. 00- $96, 620, 000, 00 1863.. 3, 384, 000.00 387, 646, 589. 00 1864 789, 037. 50 447, 300, 203.10 $i72, 620, 550.66 $6, 060, 000. 00 1865 472, 603. 50 431, 066, 427. 99 50, 625,370. 00 191,721,470.00 1866 272,362.75 400, 780, 305. 85 8, 439, 540. .50 172, 369, 941, 00 1867 208, 432. 50 371, 783, 59.7. 00 1, 325, 889. 50 134, 774, 981, 00 1868 143, 912, 00 356, 000,000. 00 71.6, 212. 00 54, 608, 2f§0. 00 1869 123,739, 25 356, 000, 000. 00 347, 772.00 3,063,410,00 1870 106, 256. 00 356, 000, 000. 00 2.53, 9.52. OO 2,191,670,00 1871..:... 96, 505. 50 356, 000, 000. 00 205, 992. 00 814,280.00 1872 378,222.00 623, 010. 00 88, 296, 25 357, 500, 000. 00 1873 79, 967. 50 3.56, 000, 000. 00 148,155. CO 499, 780, 00 1874 76, 732, 50 381, 999, 073. 00 429, 080, 00 330,805.00 1875 70,107, 50 .375.771,580.00 371,470.00 114.17.5.00 1876 66, 917. 50 369, 772,284. 00 331,260,00 105,405.00 1877...... 300, 260. 00 63, 962, 50 359, 764, 332. CO 96, 285. 00 1878 274, 780. CO 62, 297. 50 346, 681, 016. 00 90, 475, 00 1879 260, 650, 00 61,470.00 346, 6«1,016.00 86,845,00 1880 243,310,00 60, 075.00 346,681,016.00 82, 815, 00 1881 235, 280, 00 60, 535. 00 346,681,016.00 80. 715. 00 1882 223, 560. CO 59, 695.00 346,681,016.00 77,125. 00 1883. 214, 770. 00 58, 985.00 346,681,016,00 71, 915. 00 1884 211, 790, 00 58, 440, CO 346, 681, 016,00 71,335.00 1885 204, 970. 00 68, 58.5, 00 57, 950.00 346,681,016.00 1886 199, 660, 00 66, 755, 00 57, 445,00 346,681.016,00 193, 310, 00 65. 645. 00 1887...... 57,130, 00 346,681,016.00 189, 860. 00 63, 845, CO 56, 807. 50 346, 681, 016, 00 1888 AT T H E CLOSE Fractional currency. Total. $147, 725, 235.00 $26,3 92,'456.66 411,223 046. 00 22, 324, 283.10 649, 094, 073. 70 25, 033,128, 76 698,918,800.25 27, 003, 875. 36 608, 870, 825.46 28, 474, 623. 02 536, 567, 523.02 32, 727, 908. 47 444,196, 262. 47 32,114,637.36 391, 649, 558.61 39, 878, 684.48 398, 430, 562.48 40, 582, 874. 56 397, 699, 652. 06 40, 85.5, 835. 27 399, 24.5, 363. 52 44, 799, 365, 44 401,527,267.94 45, 912, COS, 34 428, 547, 693, 84 42,129,424,39 418, 456, 756.69 34, 446, 595, 39 404, 722, 461, 89 20. 403,137. 34 380,627,976,84 16, 547, 768. 77 363, 656, 337. 27 15, 842, 610.11 362, 932, 59L 11 15, 590, 892.70 362, 659, 008, 70 15, 481, 891. 65 362, 539, 437.65 1.5,423,186.10 362, 464, 582.10 15,376, 629.14 362, 403, 315. 34 15, 355, 999. 64 362, 378, 580. 64 15, 340,114. 21 362, 352, 635. 21 15, 330, 025. 85 362, 334, 90L 85 15, 322, 902. 70 362, 320, COS, 70 15, 298, 582.15 362, 290,110. 65 NOTE.—The difierence between this and other statements ofthe Treasurer's reports ahd the publicdebt statements in the amounts of one aud two year notes and compound-interest notes outstanding is due to the fact that the Treasurer's statements are compiled from the reports of destructions, while tho debt statements are rnade up from tho reports of rederaptions, and the method of settling the accounts of these interest-bearing notes does not permit their destruction until some time after the redemption. The following will explain the differences on J u n e 30, 1888: One and two Compound-inyear notes. terest notes. On hand undestroyed at beginning of the fiscal year . . . Redemptions during the fisoal year ". Total '. Destroyed during the fiscal year : Account of redemptions daring the fiscal year 1887 Account of redemptions during the fiscal year 1888 On hand undestroyed July 1, 1888 .' Total $50 1,770 $330 3,350 1,820 3, 680 50 1,750 20 330 3,120 230 3,680 56 R E P O R T ON T H E FINANCES. No. 2 2 . — S I L V E R C E R T I F I C A T E S I S S U E D , R E D E E M E D , AND OUTSTANDING, B Y S E R I E S AND DENOMINATIONS. Issued. Redeemed. Series a n d d e n o m i n a t i o n . D u r i n g fiscal y e a r . T o J u n e SO, 1888. D u r i n g fiscal year. T o J u n e 30, 1888. Outstanding J u n e 30, 1888. ^ m e s 0/1878. T e n dollars T w e n t y dollars F i f t y dollars One h u n d r e d dollars F i v e h u n d r e d dollars One t h o u s a n d dollars .. Total $2,274,000 2, 746, 000 3, 250, 000 3, 540, 000 4,650,000 14, 490, 000 $52,326. 00 111,744.00 109, 075. 00 98, 830. CO 24. 500. 00 35, COO. 00 $2,193, 670 2, 528, 520 2, 964, 050 3, 272, 600 4, 582, 500 14, 389. 000 $80,330 217, 480 285,950 267, 400 67, 600 101, COO 30, 950, 000 431, 475. 00 29, 930, 340 1, 019, 660 9, 639, 359. 00 6, 757,112. 00 695, 425. 00 561,300.00 164,000. 00 164, 000. 00 45, 472, 920 37, 217, 320 4, 694, 350 7,814,100 8, 587, 000 8, 779, 000 40, 527, 080 43, 542, 680 4„ 106, 650 2, 785, 900 413 000 221 000 204,160,000 17, 981,196. 00 112, 564, 690 91, 59.5, 310 Series of 1880. Ten dollars.: T w e n t y dollars Fifty dollars One h u n d r e d d o l l a r s F i v e hundred dollars One t h o u s a n d dollars 86, 80, 8, 10, 9, 9, Total... 000, 760, 800, 600, 000, 000, 000 000 000 000 000 000 Series of 188Q. One dollar . l^wo d o l l a r s F i v e dollars T e n dollars T w e n t y dollars $14,172, 000 10, 424, 000 44, 700, 000 36, 520, 000 80, 000 Total A<''^re£rate No. 23.- -GoLD ...... 28,328,000 39,400.000 52, 460, 000 40, 520, 000 80, 000 1,419,892.10 732, 758. 40 818,381.50 563, 675. 00 1,596,396 802, 762 860,140 661, 900 2Q 731 604 18,' 597,' 238 51, 609 860 39, 858,100 80, 000 105, 896, 000 140,788,000 3, 534,707. 00 ' 3, 911,198 136, 876, 802 105, 896, 000 375, 898, 000 23 947 378 00 1 I4.fi 4nfi 9,2R 229, 491, 772 C E R T I F I C A T E S ISSUED, R E D E E M E D , AND OUTSTANDING, B Y AND D E N O M I N A T I O N S . ' ' Issued. SERIES Eedeemed. Series a n d d e n o m i n a t i o n . During During fiscal y e a r . T o J u n e 30, 1888. fiscal y e a r . T o J u n e SO, 1888. Outst.anding J u n e 30, 1888. Act M a r c h d, 1863. T w e n t y dollars O n e h u n d r e d doUars Fivehundred dollars... One thousand dollars F i v e t h o u s a n d dollars T e n t h o u s a n d dollars Account Geneva award Total.. .. ,$960, 000. 00 20, 234. 300. 00 32, 844, 000. 00 121,881,000.00. 4.57,885,000.00^ 314, 330, 000. 00 -33, 000,580.46 $20 6,300 6,000 10, 000 10, 000 10, 000 $959, 620. 00 20,185,100.00 32, 789, 000. 00 121, 687, 000. 00 457, 610, 000. 00 312,670,000.00 33,000,580.46 $380 49, 200 55, 000 194, 000 375, 000 1, 660, OCO 981,134, 880. 46 42,120 978, 801, 300.46 2, 333, 580 2,070,042 20,080,000.00 17 800, OCO. 00 2, 480, 205 2, 082, 300 20, 000, 000. 00 4, 414, 000 22, noo. 000. 00 6, 865, oop 40, 000, 000. 00 9,320,000 42, 600j 000. 00 115, 000, 000. 00 38, 350, 000 7,118, 380. 00 7, 554, 850. 00 6, 380, 200. 00 9,744, 000. 00 14, 693, 000. 00 19,010,000.00 73,190, 000. 00 A c t J u l y 12,'18S2. Twenty dollars...... . F i f t y dollars O n e ' h u n d r e d dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars F i v e t h o u s a n d dollars T e n t h o u s a n d dollars $4,160, 000 4, 500, 000 : 7,800,000 4, 700, 000 14, 000, 000 20, OCO, 000 30, 000, 000 \ 12, 961, 620 10,245,150 13,619,800 12, 256, COO 25, 307, 000 23, 490, 000 41, 810, 000 Total 85,160, 000 277, 380, 000. 00 64, 581, 547 137, 690, 430. 00 139, 689, 570 AfiTfirreffate 85,160, 000 1, 258, 514, 880.46 64, 623, 667 1, 116 491, 730.46 142, 023,150 57 TREASURER. No. 24.- - U N I T E D STATES C U R R E N C Y I S S U E D , R E D E E M E D , AND OUTSTANDING, D E N O M I N A T I O N S , AT T H E CLOSE O F T H E FISCAL YEAR 1888. BY U n i t e d States notes. Old demand notes. Denomination. Ifsued. Redeemed. Outstanding. One dollar T wo dollars Five dollars . . . .$2i, 8o6,666 $21, 777, 257. 50 $22, 742.50 Ten dollars 20, 030, 000 20, 009,155. 00 20, 845.00 Twenty dollars 18,200,000 18,186, 780. CO 13, 220. CO Fifty dollars One hundred dollars.. Five hundred dollars One thousand dollars Five thousand dollars. Ten thousand dollars . Unknown, destroyed in Chicao'o fire i..... Outstandii^g. Redeemed. Issued. $183, 688,1^60 $178, 507, 927. 50 $5,180, 232.50 381,493,048 176, 514,112. 00 4, 976, 936. 00 375, 261, 760 294, 206, 887.50 83,054,872.50 354,373,240 268.106, 839. 00 86, 264, 401.00 314, 362, 400 229; 548, 476, 00 84, 813, 924. 00 115, 615, 200 93, 744, 650. 00 21, 870, 550.00 139,104, 000 107, 999, 900,00 31,104,100, 00 176, 526, 000 168, 458, 000. 00 8,068,000.00 294,128, 000 269, 825, 000.00 24, 303, 000. 00 20, 000, 000 19, 96.5, 000. 00 35,000.00 40, 000, 000 39, 990, 000. 00 10, 000. 00 1, 000, 000.00 347, 681, 016. 00 Deduct unknown destroyed Total 1, 000, COO. 00 60, 030, 000 59,973,192.50 56, 807.60 2,194, 647, 808 1, 847, 866, 792. 00 346, 681, 016. CO •Gold- certiflcates. Silver c e r t i f i c a t e s . Denominalion. Issued. O n e dollar T w o dollars F i v e dollars T e n dollars T w e n t y dollars Fifty dollars O n e ' h u n d r e d dollars . . Five hundred dollars. O n e t h o u s a n d dollars . F i v e t h o u s a n d dollars T e n t h o u s a n d dollars Account Geneva award Total. ^ Eedeemed, $28, 328, 000 19, 400, 000 52, 460, 000 128, 794, 000 83, 586, 000 12, 050, 000 14,140, 000 13, 650, 000 23, 490, OOC Outstanding, Issued. $1, 596,396 $26, 731, 604 802,762 18, 597, 238 850,140 51, 609, 860 48, 328, 490 80, 466, 510 39, 745, 840 43, 840,160 4, 391, 600 7, 658, 400 3, 053, 300 11, 086, 700 480, 500 13,169, 500 322, 000 23, 168, 000 Eedeeemd. Outstanding. $21, 040, 000.00 $8, 078, 000. 00 $12, 962, 000 7, 554, 850. 00 10, 245,150 17, 800, 000. 00 26, 565, 300. CO 13,669,000 40, 234, 300. 00 42, 533, 000. 00 12, 311, 000 54, 844, 000, 00 361„883., 000, 00 136, 380, 000. 00 25, 501, 000 500, 385, 000. CO 476, 520, 000. 00 23, 865, 000 429, 330, 000.00 385, 860, COO. CO 43, 470, 000 •^ S3, 000, 580. 46 S3, 000, 580,46 375, 898, 000 146, 406, 228 229,491,772 1, 258, 614, 880.46 1,116, 491, 730.46 142, 023,150 T w o - y e a r n o t e s of 1863. One-year n o t e s of 3863. Denomination. Issued. T e n dollars T w e n t v dollars Fiftydollars O n e h u n d r e d dollars F i v e h u n d r e d dollars O n e t h o u s a n d dollars U n k n o w n destroyed Redeemed. Outstanding, $6, 200, 000 $6,193, 085 16, 440, 000 16, 425, 280 • 8, 240, 000 8, 233, 350 13, 640, 000 13, 633,100 90 D e d u c t u n k n o w n destroved Total $6,916 14, 720 6, 650 6, 900 44, 520, 000 44, 484, 905 Issued. Redeemed, Outstanding. $12, 705, 600 $12, 697, 450 24,164, 400 24,153, 800 40, 302, 000 40, 300, 500 89, 308, 000 89, 289, 000 10, 500 $8,150 10,600 1,600 19, 000 35,185 39, 250 90 , 10,500 35, 095 166, 480, 000 166, 451, 250 28, 750 58 R E P O R T ON T H E FINANCES. No. 2 4 . — U N I T E D STATES C U R R E N C Y I S S U E D , R E D E E M E D , AND OUTSTANDING, E T C . — Continued. Compound-interest notes. Aggregate. Denomination. Issued, O n e dollar T w o dollars F i v e dollars - T e n dollars $23, 285, 200 T w e n t y d o l l a r s . . . . . 30,125, 840 F i f t y dollars 60, 824, 000 One h u n d r e d dollars - 45, 094. 400 F i v e h u n d r e d dollars 67, 846, UOO One th ousand dollars 39, 420. 000 F i v e t h o u s a n d dollars T e n t h o u s a n d dollars Account Geneva award U n k n o w n , destroyed in Chicago fire. U n k n o w n destroyed Redeemed. $23, 266, 366 SO, 086, 230 60, 753, 750 45, 058, 800 67, 833.-.500 39,413,000 Outstanding. Issued. $24, 900 39, 610 70, 250 35, 6U0 12,500 7,000 $212,016,360.00 200,891,04^.00 449, 521, 760. 00 532,680, 440. 00 483, 754, 240. 00 227, 234. 800. 00 276,377,100.00 353,168, 000. CO 608, 227, 000. 00 520,385, 000. 00 469, SSO, 000.00 33,000,580.46 Redeemed. Outstanding. $180,104, 323. 50 $31 911 836.50 177, 316, 874.00 23 574 174. CO 316, 834, 285. 00 132, 687, 475. 00 36.5, 897, 869. 00 166, 782. 57L 00 342, 070, 606, 00 141, 683, 634. 00 190,642,450.00 36, .592, 350. 00 228,497, 600. 00 47, 879, 500. 00 332, 294, 500,00 20, 873, 500. 00 558, 075, 000, 00 50,152, 000. 00 496, 485, 000, 00 23,900 000.00 425,850,000.00 .43, 480, 000. 00 33, 000, 580.46 3,000,000.00 10, 590. CO 719, 517, 040.50 Deduct unknown d e s t r o y e d ..,.. Total . 1,010,590.00 266, 595, 440 266,405,580 189, 860 4, 366, 586,128.46 3, 648, 079, 677. 96 718, 506, 450.60 No. 2 5 . ~ A M O U N T AND PERCENTAGE OF TOTAL OUTSTANDING OF EACH DENOMINATION OF U N I T E D STATES N O T E S , GOLD C E R T I F I C A T E S , ACT OF J U L Y 12, 1882, AND S I L V E R C E R T I F I C A T E S , AT THE CLOSE OF EACH FISCAL YEAR F R O M 1&78 TO 1888, INCLUDING $1,000,000 O F UNKNOWN DENOMINATIONS OF U N I T E D STATES NOTES DESTROYED. United States notes. Gold certiflcates. Silver certiflcates. Total. Denomination. Amount. Pr,ct. Amount. Pr.ct. Amount. Pr.ct. Amount. Pr.ct. 1878. Is 2s 5s 10s 20s 50s 100s 500s 1,0003 5 OOOs 10,000s $20, 929, 874. 30 -.-..- 20,910,948.20 54, 669, 656. 50 65,551,644,00 62, 720, 643. CO 27,182, 680. CO 31,624,670,00 30, 878, 500. 00 33, 212, 500, CO Total 6.02 6.01 15. 73 18. 85 18.04 7. 82 9.10 8.88 9.55 347,681,016.00 100. CO ^ $123, 220. 00 30,240.00 13, 250. CO 179, 700. CO 268, 000.00 1, 256, 000. 00 $20, 929, 874. 30 20, 910, 948, 20 54, 669, 556. 50 6.66 65, 674, 864. 00 .55 62, 730, 883. 00 .72 27,195, 930. 00 9.71 31, 804, 370. CO 14.48 31, 146, 500. 00 67.88 34,468, 500. 00 5.98 5.9915.64 18. 79 17. 95 7.78 9.10 8.91 9.80 1; 850, 430. 00 100.00 349, .531, 426. 00 100.00 1879. Is 2s 5s lOs 20s 50s 100s " 500s 1 OOOs 5,000s 10,0008 .' Total . . 18, 209, 980. 80 18, 092; 653. 20 54,107,113.00 64, 638, 562. 00 60, 470, 887, 00 25, 523, 340, 00 32, 038, 480. 00 32, 569, 500. CO 35, 070, 500. 00 4, 000, 000. 00 2, bm, 000,00 5.21 5.20 15.56 18.59 17 39 7.34 9.22 9.37 10.09 L15 .85 347 681 016 00 100. 00 163, 830. 00 6.45 95, 420.00 .3.76 145, 000. 00 5.71 475, 700. 00 18.73 500, 000. 00 19.68 1,160, 000. 00 45,67 18,209,980.80 18,092.653.20 54,107,313.00 64, 802, 392. 00 60, 566, 307. 00 25, 668, 340. 00 32, 514i 180. 00 S3, 069, 500. 00 36, 230, 500. 00 4, 000, 000. 00 2,960,000.00 5.20 5.17 15.45 38.5.0 17.29 7.33 9.28" 9.44 10. 35 L14 .85 2, 539, 950. 00 100, 00 350, 220, 966. 00 100.00- 5^ TREASUBER. No. 25.—AMOUNT AND PERCENTAG35 O F TOTAL OUTSTANDING O F EACH NATION OF U N I T E D STATES N O T E S , ETC.—Continued. United Statesnotes. Gold certiflcates. Silver certificates. DENOMI- Total. .. D e n o m i n a t i o n . Amount. Pr.ct. Amount. Pr.ct. Pr,ct. Amount. Amount. Pr.ct. - 1880. Is 2s 6s 10s 20s 50s.... ICOs 500s 1,OOOs 6, OOOs .lO,60Os $20, 332, 332, 00 20,352,813,00 65, 432, 548. 00 74,916,751.00 72,143,207. 00 24, 808, 995. CO 32,797, 870, 00 39,224,000,00 16, 532, 500. 00 680, 000. 00 460, OOO.'OO Total 5. 86 5.85 18.82 21 55 20.75 7.12 9,43 5,53 4.76 .20 .13 $2,147, 340, 00 1, 974, 880. 00 1, 328, 950, 00 1, 904, 600. 00 1, 229, 500, 00 3,789, 000. 00 $20, 332, 332, 00 20, 352, 813.00 65, 432, 548. 00 17.35 77,064,091.00 15.96 74,118, 087. CO 10.74 26,337,94.5.00 16.39 34, 702, 4.70. 00 9.94 20, 453, 500. CO 30.62 20, 321, 500. 00 680, COG. 00 460, 000. 00 5.65 5.6518.17 21. 40* 20. 59' 7.26 9.64 5.68 5.64 .19.13 347,681,016.00 100. 00 12, 374, 270. 00 100. 00 360^055, 286.00 100. 00 • 22, 645, 761. 60 6.51 22,244,122.40 0.40 69, 569, 078. 00 20. 00 76, 990, 387. 00 22,14 72,271, 597.00 20,79 23, 702, 910. 00 6.82 32, 947, 660. 00 9.48 14, 570, 000. 00 4.19 12, 024, 500.00 3.46 455, 000. 00 .13 26D, 000. 00 .08 22, 645, 761, 60 5.68 22, 244,122,40 5.58' 69, 569, 078, 00 17.44 97,357,417,00 24.41 90,433,697,-00 22. 67 27, 384, 510, 00 6.82 36, 976, 960,00 9.27 16, 216. 500. 00 4.07 15, 504, 500. 00 3.8945.5, 000, 00 .11 .Oft 260, 000. 00 1881. Is 2s 5s 10s 20s 50s lOOs 500s 1,000s 6, OOOs..10, OOOs : Total 20, 367, 030.00 39.81 18,162,100. 00 36.50 3,481,600.00 . 6.80 4, 029, 300. 00 7.87 1,646,500.00 3.22 3,480,000.00 6.80 347, 681, 016. 00 100. 00 51,166. 530. 00 100. CO 398, 847, 546. 00 100. 00' 7.40 7.08 19. 37 20.93 39.75 6.90 9.91 4.28 3.55 .12 .65 25, 720, 953. 60 6. 22 24, 622, 625. 40 5.9567, 342, 540. 00 16.27 44. 25 102. 030, 4.86. 00 24. 66. 37.76 93, 617, 711. 00 22. 63 4.97 27. 475, 320. 00 6.64 6.08 38, 490, 090. 00 9.30^ 2.63 16, 610, 500. 00 4.01 4.31 15,187,500.00 3.67 420, 000. 00 .30.55 2, 260, 000. 00 1882. Is .2s...5a 10s 20s 50s 100.-i 500s 1,000s 5,0003 10,000s Total 1883. Is • 2s 5s 10s 208 50s 100s....-...5C0s 1,000s 5, OOOs 10,000s Total 26, 720, 953, 60 24, 622, 626. 40 67, 342, 540, 00 72, 784, 766. 00 68,657,471.00 24,193,770,00 34,469,390.00 14, 876, OUO. 00 12, 335, .500. 00 42-0, 000. 00 2,260, 000. 00 347,681,016.00 100. 00 27,736,456.80 25, .524, 394. 20 71,150, 085. 00 72, 732, 886. 00 62, 346, 009. 00 23, 985, 895, 00 34, 302, 390, CO 16, 098, 500, 00 14, 328, 500, 00 315, 000, 00 160,000.00 7.98 7.34 20. 46 20.92 17. 93 $9,162, 900, 00 6.90 9, 050, 800. 00 9.87 8, 704, 400. 00 4.34 8, 042. 000.00 4,12 . 12, 650, 000. 00 . . 09 6, 965, OOO. 00 .05 24, 240,000. 00 29, 24.5, 720. 00 24, 960, 240. 00 3, 283, 550. 00 4, 020, 700. 00 1,734,500.00 2, 852, 000. 00 66, 096, 710. OOIOO. 00 433,777,726.00 100. 00- 36, 887, 892. 6o 11.62 35,152, 784. 00 11.47 3, 996, 935. {»0 11.11 6, 247, 220. 00 10. 20 2, 526, 000. 00 16.04 4, 806, 000. 00 8 83 30.73 27,736.456.80 25, 524, 394, 20 71,150, 085„00 41. 63 109, 620, 778. CO 39.67 106, 662, 593. 00 4. 51 37. 033, 630. 00 5,92 .48,314,010.00 2,85 25, 666, 500. 00 5.42 31, 784, 500,00 7, 280, 000. 00 24, 400, 000. 00 5.38 4.9613.81 21.28 20. 70 7.10 9.38 4.98 6.17 1.41 4.74 347,681,016.00 100. 00 78, 875,100. 00 100. 00 88, 616, 831. 00 100. 00 515,172, 947,00 100. CO- 1881. Is 2s 5s 10s.. 208 50s 100s 500s 1,OOOs 5,000s..... 10,000s Total 26,660,184,80 7,67 24, 897, 886, 20 7.36 75,552,915.00 21.73 69, 527, 016. 00 20.00 47, 496,71'2. 6o 58, 054, 629, 00 16.70 13, 354, 760. 00 13.94 47, 864, 524. CO 23, 208, 895. 00 6.68 9,119, 000. 00 9.52 6, 293, 635.00 33, 640, 990. 00 9.68 9,103, 700. 00 9.51 8,139, 320. 00 16, 914, 000. 00 4.86 8, 701, 500. 00 9.09 4, 377, 500. 00 19, 034, 500. 00 5,48 14. 559, 000. 00 15.20 6, 726, 000. 00 130, 000. 00 .03 10, 560, (.100. 00 1 L 0 2 60, 000. 00 .01 30, 380, 000. CO 31.72 ' • .26, 660,184. 80 4.72' 24, 897, 886, 20 4,41 75, 552, 915. 00 13, 39 39,28 117 017 798. 00 20.74 39 59 11Q ^7?i ni ?$ no 21.135.21 38,621,530.00 6.84 6.73 50, 884, 010. 00 9 02' 3.62 29, 993, 000. 00 5,32 5.57 40, 319, 500. 00 ^ 7.14 10, 690, 000. 00 1.89' 30, 440, 000. 00 5.40 347,681,016.00100.00 95, 777, 960. 00 100.00 120, 891, 691, 00 100,00 564, 350, 667. 00 100. 00' 1 60 R E P O R T ON T H E FINANCES. No. 25.—AMOUNT AND : PEI^CENTAGE O F TOTAL OUTSTANDING O F EACH NATION OF U N I T E D STATES N O T E S , ETC.—Continued. • Geld certiflcates. United States notes. Silver certificates. DENOMI- Total. ' Denominajtion. Amount. Amount. Pr.ct. Pr.ct, Amount. Pr.ct. Amount. Pr.ct. 1885. Is 2s 5s lOs 20s 503 100s 500s i,000s 5 OOOs iO OOOs $24, 952,''061. 80 • 25, 295, 069.20 75,997,805.00 64, 539, 386. CO 56,126, 509. 00 .... 23, 459, 895, 00 32, 896, 790, 00 16, 557, 000,00 28, 716, 500. 00 100, 000, CO 40, 000. 00 7.18 7.28 2L87 18.56 15.86 $12, 343, 760. CO 6. 75 10,443, 800. 00 9.47 9, 527, 800. 00 4.77 14,120, 500. 00 8.26 22,120, 000. 00 14, 085, 000. 00 55,120, 000. 00 $51,747,127. 00 8,96 52, 010, 964. 00 7.58 7, 654, 03.5. 00 6.92 9, 878, 520. 00 10. 25 8, 910, 000. CO 16.06 9, 701, 000. 00 10.22 40.01 $24,952,063.80 3.99 25, 295, 069. 20 4.04 75, 997, 805. 00 12.15 36.99 116, 286, 533. 00 18.60 37.18 119. 481, 233. 00 19.11 5.47 4i; 557, 730. CO 6.65 7.06 .52, 303,110. 00 8.36 6.37 39, 587, 500. 00 6,33 6.93 60, 637, 500.00 9.68 14,185, 000. 00 - 2.27 65,160, 000. 00 8.82 347,681,016.00 100. 00 137, 760, 860. 00 100. CO 139, 901, 646. 00 300. 00 625, 343, 522. 00 100. 00 Total 1886. Is 2s 5s lOs 20s 50s 100s 5C0s 1,000s 5 OOOs £0,0003 , . ' Total . 17, 603, 922. 40 18, 204, 369. 60 85,629,239.00 66,658,661.00 55, 078, 379. 00 23, 291, 205. 00 31, 359, 700. 00 12, 424, 000. CO 37,361,500.00 60, 000. CO 10, 000. 00 ? 5.06 5.24 24.- 63 50, 269, 387. 00 19.18 15.81 *ii,'976,'476.'6o "'9.'30 44, 967, 628. CO 6,70 9, 73.7, 955. 00 7.55 7, 384, 840. 00 9.02 8, 943, 900. 00 6.95 9, 610, 820. 00 3.58 13,370,500.00 10.38 1, 835, 000. 00 10.75 18, 278, 000. 00 14.20 1, 920, 000. 00 13, 430, 000. 00 10.43 53, 030, 000. 00 4 L 1 9 • 43.34 38.76 6.37 8.29 L58 1.66 17, 603,922.40 18, 204, 369, 60 85,629,239,00 116, 92w, 048. 00 112, 012, 477. 00 40, 394. 060. CO 49, 934, 420, 00 27,629, 500.00 57, 559, 500.'C0 13, 490, 000, 00 53,040,000.00 2, 97 3,07 14,45 19.74 18.91 6.82 8,43 4,66 9,72 2,28 8,95 347,681,016.00 100. 00 128, 746, 825. 00 100. 00 115, 977, 675. 00 100.00 592, 405, 516. Co'lOO. 00 1887. Is 2s 5s 10s 20s.. 603 lOOs 5003 : . 1,0003. 5 0003 10, OOOs Total 8, 797, 376. 50 2.53 9, 008, 572. 00 2.59 95, 064, 850. 50 27.34 80, 371, 471. 00 23.12 63,929,361.00 18.39 10, 871, 662. CO 9.13 21, 908, 985. 00 6.30 8, 225. 355, CO 6.91 29, 643, 400. 00 8.53 7, 902,100, 00 6,63 7, 704, 500. 00 2.22 11, 970, 000,00 10. 05 31,197, 500. 00 8.98 17,172, 000, 00 14.421 12, 810, OO'O. 00 10.75 45, 000. 00 50,160, 000. 00 42.11 10, 000. 00 13, 979, 496.10 8, 905, 996. 40 7,728,241.50 54, 200, 870,00 .50, 629, 016. 00 5,196,100. CO 3. 713. 430. 00 669, 000. CO .523.000.00 ' 9.60 . 22, 776, 872. 60 6.12 17, 914, 568. 40 5.31 302,793,092.00 37.24 134, 572, 341. CO 34,79 125, 430, 039. 00 3,57 35, 330, 440. 00 2,65 41, 254,930. 00 .-46 20, 343, 500. 00 .36 48, 890, 500. 00 32,855,000.00 50,170, 000,00 3.72 2.93 16.79 21.98 20.48 5.77 6.74 3.32 7.98 2.10 8,19 347, 681, 016. CO100. 00 119, 111. 117. 00 100. 00 145, 543,150. 00 300.00 612, 333, 283. 00 100, 00 1888. Is 2s 5s lOs i 20s 50s../. lOOs 500s 1,000s 5,OOOs ao, OOOs Total 5,380,232.50 4, 976, 936. 00 81, 054, 872. 50 86, 264, 401. 00 84, 813, 924. CO 21,870.550.00 31.104,100.00 8, 068, 000. CO 24, 303, 000. 00 35, 000. 00 10, 000. 00 1.49 L43 23.32 24.81 24.40 6.29 8.95 2,32 6.99 32,961,620.00 9.28 10, 245,150. 00 7.33 13, 619, 800. 00 9.75 12, 256, 000. 00 8.77 25, 307, 000. 00 18.12 23,490, 000. 00 36.82 41, 810, 000. 00 29,93 26, 731, 604. 00 18, 597, 238. 00 51, 609, 860. 00 80,465,530.00 43, 840,160, 00 4, 391, 600, 00 3, 0.53, 300. 00 480, 500, 00 322, 000, 00 11.65 31,931,836.50 4.45 8.10 23, 574,174.'00 3,29 22.49 332, 664, 732. 50 18,51 3.5. 06 166, 729, 931. 00 23.26 39.10 141, 616, 704. 00 19.76 1 9 2 36,507, 300. 00 6.09 L 3 3 47, 777, 200. 00 6.66 .21 20, 804, 500.00 2.90 .14 49, 932, 000. 00 6.97 23, 525, 000. 00 3.28 43, 820, 000.00 5.83 347, 681, 016. 00 100. 00'l39, 689, 570, 00 100,00 229, 491, 772, Oo'lOO. 00 716. 862, 358. 00 100. 00 1 • 61 TREASURER. No. 2 6 . — S E V E N - T H I R T Y N O T E S ISSUED, R E D E E M E D , AND OUTSTANDING. Redeemed. Total issued. Redeemed to J u n e 30,1887. D u r i n g fiscal T o J u n e S O , year. 1888. Issue. J u l y 17, 1861 A u g u s t 15, 1864 J u n e 15, 1865 J u l y 15 1865 ..1 '. $140, 094, 750 299, 992, 500 331,000,000 199,000,000 Total . . . 970, 087, 250 $140, 299, 330, 198, 078, 941, 966, 949, 950 350 900 650 $5, 000 300 969, 936, 850 6,300 1, 000 $140, 299, 330, 198, Outstanding J u n e SO, 1888.. 083, 950 941, 650 966, 900 950, 650 $10, 80060, 850 33,100 49,350 969, 943,160 144,100- NOTE —The public debt statement shows $128,300 7-30s of 1864 and 3865 outstanding on J u n e 30,1888,. or $5,000 less than 'the amount given in the above table. The discrepancy axose in deducting $5,000 redeemed in August, 1868, which was suspended in settlement and again deducted when suspension, was removed. No. 27.—COUPONS FROM U N I T E D STATES B O N D S AND I N T E R E S T N O T E S , P A I D D U R I N G T H E FISCAL YEAR 1888, CLASSIFIED B Y L O A N S . T i t l e of loan. Amount. Bonds: L o a n of J u l y a n d A u g u s t , 1861 5-20s of 1862 . . . L o a n of 1863 10-403 of 1864 5-20s of J u n e , 1864 5-20s of 1865 Consiols nf 3865 Consols of 1867 Consols of 1868 No. T i t l e of l o a n . Amount. Bonds: F u n d e d L o a n of 1881 '. F u n d e d L o a n of 1891 . . . F u n d e d L o a n of 1907 Interest notes: S e v e n - t h i r t i e s of 1864 a n d 1865 T w o - y e a r I n t e r e s t N o t e s of 1863 . . . $174. 00 1,155,00 45,00 2, 50 6,00 396, 00 238, 50 240. 00 3,00 Total :.. $152.50' 1 773 062 09 4, 533, 325. 5 0 ' 20,07 21.64 6, 308, 84L 80' 28.—NUMBER AND AMOUNT OF CHECKS I S S U E D F O R I N T E R E S T ON R E G I S TERED B O N D S OF T H E U N I T E D STATES DURING T H E FISCAL YEAR 1888. Number. T i t l e of loan. Amount.- F u n d e d l o a n of 1891 F u n d e d loan of 1907 . . . 42, 760 152, 446 $8, 802, 022. 29» 24, 859,158, 60- Total .\ B o n d s i s s u e d t o Pacific R a i l w a y s 195, 206 4,333 33, 661,180, 79' 3, 877, 410. 72- 199, 539 37, 538, 591. 51 Total No. 2 9 . — I N T E R E S T ON 3.65 P E R C E N T . B O N D S OF T H E D I S T R I C T OF COLUMBIA P A I D DURING T H E FISCAL YEAR 1888. "Where p a i d . Treasury United States Washin^ton ..• ... Sub-treasury United States N e w Y o r l t . . . . ..... Total No. Coupons. Cliecks. Total, $23, 097. 26 61, 750, 70 $68,776,70 382, 757, 25 $91, 873. 96' 444, 507. 95 84, 847. 96 451,533,95 636, 381. 91 3 0 . — R E F U N D I N G C E R T I F I C A T E S I S S U E D UNDER T H E ACT OF F E B R U A R Y 1879, CONVERTED INTO B O N D S OF T H E F U N D E D L O A N OF 1907. 26? Converted. Issued. To J u n e 30, 1887. During fiscal year. To J u n e 30, 1888. Outstanding. . Payable to order . Payable to bearer $58, 500 39, 954, 250 $58, 080 39, 779, 420 $87, 200 $58, 080 39, 816, 620 $420 137,-630 Total 40, 012, 750 39, 837, 500 37, 200 39, 874, 700 138, 050 '62 REPORT ON T H E FINANCES. No. 31.—TOTAL AMOUNT OF U N I T E D STATES BONDS R E T I R E D F O R THE S I N K I N G F U N D FROM M A Y , 1869, TO J U N E 30, 1888. -^ Froin M a y , D u r i n g fiscal 1869, t o year. JuneSO, 1887, How retired. . Title of loan. Loan of February 1861 . Purchased.. . . . . . . . . Kedeemed Oregon War Debt Purchased Redeemed Total'. •' Total... , Total . ... Purchased. Kedeemed -.. $10, 612, 000 2, 000 $10, 612, 000 2 COO io, 614, 000 10, 614, 000 256, 800 100 256, 800 100 256, 900 Loan of July and August, 1861... P u r c h a s e d . ^ Redeemed :5-20s of 1862 T o J u n e 30, 1888. 48, 776, 700 31 200 48, 807, 900 48, 807, 900 24,029,3 50 30, 036,400 T o t a l .„» 256, 900 48, 776, 700 31, 200 54,065,550 24, 029, ISO 30 03t5 400 . 54, 065, 55-0 Loan of 1863 Purchased Redeemed 10-403 of 1864 5^-203 of March, 1864 5-20s of June, 1864 .do Redeemed..- S-20sofl865 Total 18, 848, 600 18, 848, 600 Consols of 1865 Purchased Redeemed 48,166,350 65, 450 48, im^ 150 65, 450 Total 48, 231, 600 48, 231, 600 32,135,600 76, 700 32,115,600 76, 700 32,192, 300 32,192, 300 2, 233, 800 23,350 2, 213, 800 21 360 Consols of 1867 .- .. . 19, 854, 250 14, 500 19, 854, 250 14, 500 Total 39,868,750 19, 868, 750 Redeemed Purchased 693, COi) 361,600 691, 600 361 600 18, 356,100 11, 072,100 18, 356, 100 11, 072,100 Total 29, 428, 200 29, 428, 200 Purchased Redeemed 16,866,3 50 1, 982, 450 16, 866,150 1, 982, 450 . - Purchased... Kedeemed Total •Consols of 1868 Purchased . . . . . . . .. Kedeemed 2, 235, 350 •2, 235,350 Funded loan of 1881 Purchased Redeemed 43, 599, 000 25, 070. 800 43, 599, 000 25, 070, 800 Total 68, 669, 800 Total , : Funded loan of 1891 Purchased Funded loan of 1907 do Loan of July and August, 1861— 1 continued Redeemed Loan of 1863—continued do Funded loan of 1881—continued.. do Loan of J u l y 12, 1882 do Total purchased... Total redeemed Aggregate 1,500,000 68, 669, 800 $19,455, 400 5, 389, 250 19, 455, 400 6, 889, 250 56, 594, 350 37,219,150 43, 688, 700 149, 629, 700 18, 880, 500 56, 37, 43, 168, 266, 707, 300 366,196, 550 24, 844, 650 18, 880, 500 291, 551, 950 376, 077, 050 622, 903, 850 43, 725,150 666, 629, 000 594, 350 219,150 688, 700 510, 200 68 TREASUKER. No. 32.—TOTAL AMOUNT OF T i t l e of loan. • U N I T E D STATES B O N D S R E T I R E D TO J U N E 30, 1888. Rate of i n t e r - T o J u n e 30, 1887. est. How retired. L o a n 'of F e b r u a r y 1861 , P e r ct. 6 6 Purchased Kedeemed Total 6 6 1 .. Purchased Kedeemed 6 6 Total 5-20s of 1862 Purchased — Redeemed .... Converted 6 6 6 Total L o a n o f 1863 Purchased Redeemed . . . . 6 1 6 Total 5-20S of M a r c h , 1864 .' Purchased.. . Redeemed .. . Converted.. . Purchased .... Redeemed Converted 5.20a of 1865 Purchased Kedeemed Converted i / Redeemed Converted 514, 505, 550 11,800 514, 53.7, 350 19,854, 250 4, 669, 900 1,500 19, 854, 250 4, 671, 400 24, 524,150 1, 500 24, 525, 650 36, 023, 350 157, 689, 950 9, 586, 600 203, 298, 400 1, 500 203, 299 900 118,9.50,550 205,165, 200 8, 703, 600 26, 350 118, 950, 550' 205, 191, 550 8, 703. 600 332, 819, 350 26, 350 332. 845. 700 1,119, 800 2, 382, 200 380,500 62, 846. 950 62. 846, 950 309, 823, 700 ""'97,"550' 309,923,250 5, 807, 500 5, 807, 500 761-, 100 761, 100 379, 239, 250 6 6 6 97, 550 379, 336, 800 4, 794, 050 37,415,2.50 "'""i,'256' 211, 750 44,900 4, 794, 050 37,416,500 211,7.50 44,900 42,465, 950 1, 250 . 42,467,200 1, 707, 202,100 173, 550 1,707,375,650 5 232, 000 232, 000 — 5 5 6, 041, 000 13, 957, 000 6,041,000 j 13,957,000 Redeemed Exchanged ... 5 .5 - 1 Total 10-403 of 1864 'ii,86o 12.), 517, 200 Total . . . . Redeemed 63, 633, 060 57, 155, 8.50 430, 270, 500 27, 091, 000 36, 023, 350 157, 688, 450 ' " " ' i , ' 5 0 0 9, 586, 600 T o t a l of 6 p e r c e n t s Texan Indemnity Stock 33,450 57,3.55,850 430, 258, 700 27, 091, 000 126, 517, 200 6 6 6 0 Purchased Redeemed Converted . . . . Exchanged ... L o a n of 1858 33,450 61, 590, 600 3. 882, 500 Total Consols of 1868 941, 300 48, 776, 700 12, 856, 350 43, 459, 750 69, 838, 800 12, 218. 650 6 6 6 Purchased Kedeemed . . . Converted Exchanged ... 150 48, 776, 700 j 12, 822, 900 3, 882, 500 Total C o n s o l s of 1867 941,160 256, 800 684, 500 43, 459,750 69, 838, 800 12, 218, 650 6 6 6 Purchased Kedeemed Converted $150 6 6 6 Total... ^ 18,409, 000 j 256,800 684,360 3,139,800 2, 28-2, 200 380, 500 Total... C o n s o l s of 1865 $10, 632, 000 7, 797, 000 6 6 6 Total 5-20s of J u n e , 1864 1869, T o JuneSO, 1888. 18, 409, 000 Purchased Kedeemed L o a n iof J u l y a n d A u g u s t , 1861 During fiscal year. $10,612,000 7, 797, CCO Total O r e g o n "War D e b t FROM M A Y , Total 19, 998, 000 1 19,998,000 192,406,350 2, 089, 500 7, 850 192, 414, 200 2, 089, 500 194,495,850 7, 850 194,503,700 64 REPORT ON T H E FINANCES, No. 32.—TOTAL AMOUNT O F U N I T E D STATES BONDS R E T I R E D FROM M A Y , 1869, T O J U N E 30,-1888—Coritinued. Kate How retired. of interest. Title of loan. Per ct 5 5 Purchased Redbemed Funded loan of 1881 ....; Total T o J u n e 30, 1887. During fiscal y e a r . $43, 599, 000 72, 761, 300 T o J u n e 30, 1888. $43, 599,000 72,838,200 $76,900, 116, 360, 300 76, 900 116,437, 200 331, 086,150 84, 750 331,170, 900 27, 792, 950 27, 792, 950 1, 500, 000 1, 418, 850 23, 671, 350 25 171 350 3,418,850. • Total of 5 per cents Funded loan of 1891 Purchased Funded loan of 1907 Purchased Redeemed Total 4 4 . 2, 918, 850 23, 671, 350 26, 590,200 3^ 127, 527, 000 900 127, 527, 900 3i 3i 37, 219,150 13, 231, 650 3,000 Total..... 50,450,800 3,000 50, 453,800 Funded loan of 1881—continued.. Redeemed Exchanged . . . 109,107,100 292, 349, 600 6,200 309,113,300 292, 349, 600 401,456,700 6,200 401,462, 900 579, 434, 500' 10,100 579, 444, 600 281, 802,100 23, 056, 250 304, 858, 350 448, 949, 050 2, 067, 061, 300 77, 956, 600 308,476, 750 61, 464, 300 23, 324, 650 600, 413, 350 2, 090, 385, 950 77, 956, 600' 308, 476, 750' 2,902, 443, 700 74, 788,950 2, 977, 232, 650 Loan of July and August, 1861— Redeemed Redeemed Exchanged . . . Loan of 1863—continued Total Total of 3^ per cents Loanof July 12 1882 Total Total Total Total Redeemed purchased redeemed ,o converted exchanged Aecffreerate 3 . 37, 222,150 13,231,650 No. 33.—BONDS O F T H E L O A N S GIVEN I N STATEMENT N O . 32, R E T I R E D P R I O R T G M A Y , 1869. T i t l e of loan. Texan Indemnity Stock Oregon W a r D e b t 10-40S of 1864 Total H o w retired. R a t e of interest. Amount. Redeemed ....do Purchased — Per cent 6 6 5 $4, 748. OOO 145, 850 1, 551, OOO 6, 444, 850 TREASURER. 65 No. 34.—CALLED BONDS R E D E E M E D AND OUTSTANDING J U N E 30, 1888. Kedeemed, Loan, Call. Dec, 1 1871 M a r , 7, 1872 M a r . 20, 1872 J u n e 1, 1873 S e p t . 6, 1873 N o v . 16 1873 F e b . 1, 1874 Sept. 3, 1874 Sept. 5, 1874 Nov. 1, 1874 Dec. 1 1874 J a n . 3, 1875 F e b . 2 1875 M a y 1 1875 J u n e 1, 1875 J u n e 11, 1875 J u l y 20, 1875 A u g . 1, 1875 A u g , 15, 1875 Sept. 1 1875 S e p t . 24 1875 Oct. 14 1875 Oct. 28, 1875 5-20s of 1862. Total When matured. Nov. 13,1875 5.208of June, 1864.., Nov. 13,3875 Dec. 1,1875 do Dec. 17,1875 Jan, 1,1876 Feb, 1,1876 F e b . 15,1876 ....do Total. Feb, 15,1876 Dec. 1,1876 Dec. 6.1876 Dec. 12.1876 Dec. 21,1876 Jan, 6.1877 Apr. 10.1877 Apr. 24,1877 May 12,1877 May 28,1877 J u n e 3,1877 June 10,1877 J u n e 15,1877 J u n e 27,1877 J u l y 5, 3877 Aug. 5,1877 H. Ex. 2 — 5 $2, 000 3,500 1,100 4,000 1,000 1,100 1,000 Aug. 21, 3877 Aug. 28,1877 Sept. 11,1877 Oct. 5,1877 Oct. 16,1877 Oct, 19,1877 Oct. 27.1877 Nov. 3.1877 Mar. 6.1878 July SO, 1878 Aug. 6,1878 Aug. 22.1878 Sept. 5,1878 Sept. 20,1878 Oct. 11,1878 Oct. 17,1878 Oct. 23,1878 Oct. 30,1878 Nov. 5,1878 To June 30, 1888. $99, 940, 16, 218, 20, 083, 49,814, 20, 025, 14, 328, 4, 992, 5, 016, 1, 003, 24, 986, 14, 800, 10,155, 5, 085, 15, 007, 5, 005, 29, 9S0, 5, OOi 6, 001, 5, 002, 9, 995, 5, 003, 10,001 14, 891, $19, 250 3, 500 22, 360 63, 950 • 16,950 6, 760 2,350 3,250 1,000 Si, 600 6,850 12, 760 6,050 20, 650 550 18, 550 700 400 1,300 5,600 2,150 3,350 '4, 900 391, 345, 254, 750 9, lu4, 500 8, 043, 900 5, 024, 750 5, 012, 900 5, 020, 500 10, 012, 650 12, 802, 960 3, 024, 050 9, 093, 8, 043, 5, 020, 4, 992, 5, 038, 10, 010, 12, 797, 3, 024, 58, 046, 200 58, 002, 1, 974, 700 10, 032, 300 9, 996, 300 10,012,250 10, 053, 750 10. 008, 250 10, 026, 900 10,35.5,150 10,138, 300 9, 904, 300 10,043,050 10, 003, 250 10,018,300 10, 005, 600 10, 019, 000 10,114, 550 1, 974, 10, 032, 9, 992, 10, COO, 10, 05L 10, 006, 30,026, 10,163, 10,137, 9, 902, 10, 041 10, 003, 10, 048; 10, 004, 10,018, 10,114, 10,360,650 10, 018, 650 15, 000, 500 10, 003, 300 10, 014, 050 10. 006,150 10,012,600 10, 063, 700 10, 032, 250 5, 084, 850 5, 006, 850 4, 973,100 5, 003,100 4, 793, 750 4, 945, 000 4, 989, 850 5, 081, 800 6, 253, 300 4, 966, 500 Outstanding. 946, 600 946, 600 152, 533, 850 Total Consolsof 1865. $99, 959, 600 16, 222, 250 20,105, 500 49, 878, 650 20, 042,100 14, 335, 350 4, 994, 650 . 5,020,100 ^ 1,004,950 26, 017, 700 14, 807,700 10,168, 300 5, 091, 700 15, 028, 350 5, 005, 600 29, 998, 700 6, 006, SCO 5, 001, 850 5, 003, 550 10, 000, 950 5, 005, 200 10, 004, 800 14, 896, 750 During fiscal year. 391, 600, 600 1 5-208 of March, 1864. 5-20S of 1865. Amouut called. 1,000 ""560" 1,500 100 200 'i6,"6oo' 1, 000 600 10, 000 1,050 3,000 100 10, 650 4,100 20,100 2.000 2; 050 5,200 44,100 550 4,200 11, 600 2,100 3,100 800 1,500 500 1,500 ,000 500 152, 506, 27, 350 10,151, 10, 012, 14, 990, 9, 996, 9, 999, 9, 998, 9, 998. 10, 053, 10,029, 5, 080, 5, 005, 4,! 4,! 4, ':87, 4, 929, 4,984, 5, 081 6, 246, 4, 963, 9,560 6,000 9,800 6,950. 14, 700 . 7,500 13, 650 10, 450 3,050 4,650 1,500 3,750 1,650 6,550 15, 950 5,550 400 7,100 3, 450 66 REPORT ON T.HE FINANCES. No. 34.—CALLED BONDS RKDEBMED AND OUTSTANDING J U N E 30, 1888—Cont'd. Kedeemed. 0 When matured. Call, Loan. Amount called. D u r i n g fiscal y e a r . 1 $6, 088, 850 4, 991, 200 5, 072, 200 4, 996, 300 4, 620, 650 5, 003, 200 5, 059, 650 5,010,400 5, 006, 400 12, 374, 950 66 67 68 69 70 71 72 73 74 75 Nov, Nov. Nov. Nov. Dec. Dec, Feb. Feb. Mar. Mar, 7,1878 10,1878 16,1878 26,1878 4,1878 16,1878 16,1879 27,1879 9,1879 18,1879 76 7778 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 Apr. Apr. Apr. Apr. Apr, Apr, Apr, Apr. Apr. Apr. May May May May May June June June July July 1,1879 4,1879 6,1879 8,1879 11,1879 14,1879 18,1879 23,1879 24,1879 28,1879 1,1879 6,1879 12,1879 17,3 879 24,1879 4,1879 12,1879 29,1879 3,1879 4,1879 Consols of 1868 96 July 4,1879 10-408ofl864 ,97 98 99 J u l y 9,1879 J u l y 18,1879 J u l y 21,1879 100 J u l y 23,1879 260, OOP 101 M a y 21,1881 103 A u g . 12,1881 , 104" Oct. 1,1881 25, 030,100 10,121, 850 28,184, 500 9,000 67, 900 ' 63,336,460 12,947,450 1, 500 Consols of 1865 Total Consols of 1867 Total Total L o a n of 1858 F u n d e d loan of 1881 Total 202, 478, 500 153, 250 100 1,500 500 5,350 13,100 17, 050 1,000 2, 800 1,250 1,550 4,100 28, 000 3,000 7, 050 ,6,000 1,150 1, 200 150 2,700 9, 963, 250 9, 873,160 10, 307, 850 9, 995, 000 9, 370,150 20, 079,250 19, 589, 300 18, 567, 750 21, 607, 450 20, 244, 950 20,154, 050 20, 034, 700 19, 835,100 20, 209, 960 19, 397, 000 10, 666, 200 10, 461,100 10, 057, 350 9, 962, 050 19,199, 350 20,450 20,150 6,850 11 650 19,450 25, 450 , 15,500 21, 750 15, 500 8,950 7.200 9,550 23, 500 9,250 10, 450 -8,200 3,550 19, 350 10, 750 13, 700 309, 846,150 97, 550 309,564, 950 281, 200 37, 420, 300 1, 250 37, 348,150 72,150 10, 294,150 157, 607, 600 24, 575, 050 . 50 7,800 30, 290, 550 157, 547, 600 24,575,050 3,600 60, 000 192, 476, 800 7,850 192,413, 200 63,600 L o a n of 1863 102 July 1,1881 4, 687, 800 L o a n of J u l y a n d A u g u s t , 1 8 6 1 ~ c o n t i n u e d a t 3^ p e r cent. 105 106 107 108 109 110 111 112 113 Dec, Jan. Mar. Apr. May May May June July 24,1881 29,1882 13,1882 8,1882 3,1882 10,1882 17,1«82 7,1882 1,1882 20,03L550 20,184, 900 19, 564,100 20, 646, 700 5, 086, 200 5, 010, 200 5, 096, 550 15,109, 950 11, 227, 500 A u g , 1,1882 Sept, 13,1882 Oct. 4,1882 114 115 116 Total ' $3, 550 150 500 2 200 3 250 1,500 2,200 1,300 2,600 3 800 26, 350 July L o a n of 1863—continued a t 3i per cent. 100 $5, 085. 300 4, 991, 050 5, 071, 700 4, 994,100 4, 617, 400 5,003,700 5, 067, 450 5, 009,100 5, 003,800 12, 371,150 9, 983, 700 9, 893, 300 30,314,700 10, 006, 650 9, 389, 600 20,104, 700 19, 604, 800 18, 579, 500 21, 622, 950 20, 253, 900 20,161, 250 20, 044, 250' 19, 858, 600 20, 219, 200 19,407,450 10, 674, 400 10, 464, 650 10, 076, 700 9, 972, 800 19, 213, 050 102 Total 100 Outstanding, 202, 631, 750 L o a n of J u l y a n d A u g u s t , 1861. 1,1881 $100- T o J u n e 30, 1888, 260, 000 25, 024,100 10, 084,100 28,176, 200 6,000 37,750 8,300 76,000 63, 284, 400 52, 050 33, 450 • 12, 856, 350 91,100 4, 671, 400 16, 400 1,000 2,050 3,000 29,300 500 20, 030, 550 20.182, 850 19, 561,100 20, 517, 400 5, 086, 200 5, 005, 900 5, 096, 550 15, 083, 300 13,224,500 121, 857, 650 900 121, 788, 350 69, 300 15,024,700 16, 304,100 3, 269, 650 2,000 i, 000 15,024,550, 16, 302, 500 3, 267, 250 150 1 600 2, 400 34, 598,450 3,000 34, 594,300 4,150 400 4,300 26,650 3,000 TREASURER. 67 No. 34.—CALLED BONDS R E D E E M E D AND OUTSTANDING J U N E 30, 1888—Cont'd. Redeemed. Loan. Call. F u n d e d loan of 1881—cont i n u e d a t 3§ p e r c e n t . 117 118 319 120 121 When matured. Dec. Jan. Feb. May Nov. Amount called. 23,1882 18,1883 10 1883 1,1883 1,1883 Total L o a n of J u l y 12,1882 0 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 Dec. Dec. Feb, Mar. May June June Aug. Sept. Nov. Feb. Mar. Apr. May June July Aug. Sept. Sept. Oct. Oct. Nov. Dec. Feb. Mar. 'Apr. May July 1,1883 16,1883 1,1884 16,1884 1,1884 20,1884 30,1884 1,1884 30,1884 1.1884 1,1880 1,1886, 1,1886 1,1886 1,1886 1,1886 1,1886 1,1886 15,1886 1,1886 16,1886 1,1886 1,1886 1,1887 1,1887 1,1887 1,1887 1,1887 Total Outstanding. D u r i n g fis- T o J u n e 30, cal y e a r . - 1888. $25, 822, 600 16,119, 850 15 221 800 15, 216, 350 30, 753, 350 $4, 600 500 103,132, 950 1,100 $25, 820, 000 16,112, 250 16, 214, 000 15, 234, 450 SO, 730, 250 $2, 600 7,600 7,800 900 23,100 6,200 103, 090, 950 42 000 15, 272,100 15,133, 650 10, 208, 850 10, 047, 850 10, 093,100 10, 010, 250 10,161, 050 10, 040, 800 10, 050,100 10, 330, 750 10, 098,150 10, 000,250 10, 012, 750 10, 009, 850 10, 002, 900 4, 001, 850 4,007,700 4, 004, 950 10, 003, 650 15, 006,000 15,122,400 15, 008, 300 10, 005, 350 10,010, 900 13, 887, 000 10, 007, 750 10, 014, 250 19, 717, 500 1, 500 7,000 2,600 50 200 1,000 1,600 11,000 300 1,000 3,000 16, 000 48, 600 25,650 11,100 95, 500 80,100 12, 600 3,068,100 130, 400 260, 800 158,400 181, 300 145, 200 428,400 202, 400 674,250 19, 488, 400 15, 260, 800 15,131, 200 10, 204, 750 10, 027, 850 10, 091, 750 10, 008, 750 10,147,450 10, 036, 300 10, 049,100 10, 329, 450 10, 066, 650 9, 990, 250 10, 002, 050 10, 008, 550 9, 972, 900 4, 000, 860 4, 007,100 3, 998, 850 9, 998, 950 14, 993, 650 15,116, 600 14, 862, 550 10,002, 600 10, 005, 400 13, 786, 650 10,006, 350 9, 940, 350 19, 489, 400 11, 300 2,450 4,100 20, 000 1,350 1,600 3,600 4,600 1,000 1,300 31, 600 10, 000 10, 700 1,300 30, 000 1,000 600 6,100 4,700 13,350 5,800 145, 750 2,750 5,500 100,350 2,400 73, 900 228,100 302,259, 000 23, 056, 260 301, 536,100 722, 900 RECAPITULATION BY LOANS. Redeemed, Loan. 5-20sofl862 5-20S of March, 1864 5-20sof June, 1864 5-20sofl'865 Consols of 1865 : Consols of 1867 ., Consols of 1868 10-408 of 1864 Loanof 1858 Funded loan of 1881 Loanof J u l y and August, 1861 Loan of 1863 „ Loan of J u l y and August, 1861—continued a t 3^ per cent Loan of 1863—continued at 3§ per cent Funded loan of 1881—continued at 3§ per cent Loanof J u l y 12, 1882 , Total Amount called. During fiscal year. To J u n e 30, $391,600, 600 946. 600 58, 046, 200 152, 533, 850 202, 631, 750 309, 846,150 37, 420, 300 192, 476, 800 260,000 63, 336, 450 ' 12, 947,450 4, 687, 800 $11, 800 76, 900 33,450 1,500 $391, 345, 850 946, 600 58, 002,100 152, 506, 500 202,478, 500 309, 564, 950 37, 348,150 192, 413, 200 260, 000 63,284, 400 12, 856, 350 4, 671, 400 121, 857, 650 34, 598, 450 103,132, 950 302,259,000 900 3,000 6,200 23,056,250 121,788,350 34, 594, 300 103, 090, 950 301, 536,100 1, 988, 582, 000 23,324, 500 1, 986, 687, 700 3,500 26, 350 97, 550 1, 250 7,850 Outstanding $254, 750 44,100 27, 350 153. 260 281, 200 72,150 63,(600 52, 050 91,100 16, 400 69, 300 4,150 42, 000 722, 900 1, 894, 300 68 No. R E P O R T ON T H E FINANCES. 35. CHANGES DURING T H E FISCAL YEAR 1888 I N THE P R I N C I P A L OF T H E I N TEliEST-BEARING DEBT AND D E B T ON WHICH INTEREST HAS C E A S E D . T i t l e of l o a n . Rate per cent, of interest. Outstanding J u n e 30, 1887, Increase. as p e r d e b t statement. Decrease. Outstanding J u n e 30, 1888, as p e r debt statement. Interest-bearing debt 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 loan of 1907 Kefundinsr certificates . . . N a v y p e n s i o n fund B o n u s i s s u e d t o Pacific r a i l r o a d s . . 3 f 4 3 6 $19, 716, 500. 00 250,000, OCO. 00 737, 800, 600, 00 175, 250. 00 14, 000, 000, 00 64, 623, 512, 00 1, 086, 315, 862, 00 | Total Old d e b t .. .. . . . . 1-10 t o 6 6 L o a n of 1847 Texan Indemnity Stock 5 5 L o a n of 1868 L o a n of 1860 . -. 5 5-20s of 1862 . 6 5-20s of J u n e 1864 6 6 5-20s of 1865 10-40sofl864 5 6 Consols of 1865 .... 6 Consols of 1867 6 Consols of 1868 .-. 6 L o a n of F e b r u a r y , 1861 F u n d e d loaa 1^81 5 F u n d e d loan 1881 continuedOregon W a r D e b t L o a n of J u l y a n d A u g u s t , 1 8 6 1 , . . . 6 L o a n of J u l y a n d A u g u s t , 1861— continued . ... .... L o a n of 1863 (1881s) ".. L o a n of 1863—continued L o a n of J u l y 12, 1882 T r e a s u r y n o t e s of 1861 6 7-30sofl861 7 3-10 One-year n o t e s 1863 5 T w o - y e a r n o t e s 1863 5 Compound-interest notes -. 6 7-30s of 1864' '65 7 3-10 Certificates of i n d e b t e d n e s s 6 T e m p o r a r y loan . 4to6 T h r e e p e r ' c e n t , certificates 3 f f -f Total-. 48,160 $19, 716, 500 27, 792, 950 23, 671, 350 37, 200 $222, 207, 050. 00 714,177, 400.00 138,050.00 14, 000, 000. 00 64, 623, 512. 00 71, 218, 000 1, 015,146, 012. 00 /^ Debt on which interest h a s ceased. Affffresate $48,150 151, 920. 26 1, 250, 00 20, 000, 00 2, 000. 00 10, 000. 00 266, 050. 00 44; 100. 00 28, 850. 00 71, 450. 00 179, 600. 00 378, 750. 00 73, 400, 00 • 6, 000. 00 128,950.00 48, 200, 00 3, 850, 00 124, 550, 00 — 500 6,115,165.26 1,500 7,850 26, 350 97, 550 1,250 76, 900 6,200 150 33, 450 900 1,500 3,000 3, 339, 760 70,200.00 17, 900. CO 7,150. 00 4, 062, 650, CO 2, 500, 00 15, 800, 00 36, 205. CO 29, 400. 00 192, 880. 00 129, 600. 00 4, 000.00 2, 960. 00 5, 000, 00 1, 092, 431, 027. 26 11,800 ' 5,000 1,320 650 3,350 1,300 500 48, 650 3, 619, 570 151,920.26 1, 250. 00 20, 000. 00 2, 000. 00 ^ 10, 000. 00 254, 750. 00 44,100. 00 . 27, 350. CO 63 600 00 153, 250. 00 281, 200. 00 72,150. 00 6, 000. 00 52, 050.00 .42,000.00 3, 700. 00 91,100. 00 69, 300.00 16,400.00 4 150 00 722, 900, 00 2, 500, CO 10, 800, 00 35, 085. 00 28, 750. 00 189, 530. 00 128,^00.00 4, 000.00 2, 960. 00 5, 000. 00 2, 496, 095. 26 74, 837, 570 1,017,642,107.26 No. 36.—RECAPITULATION O F T H E P U B L I C D E B T STATEMENT F O R T H E CLOSE O F EACH F I S C A L Y E A R FROM J U N E S O , 1880, TO J U N E 30, IN T H E FORM USED SINCE J U L Y 1^ 1885. J u n e 30,1880. June 30,1881, J u n e 30,1882. JuneSO, 1883. JuneSO, 1884. J u n e 30,1885. J u n e 30,1886. J u n e 30,1887. 1888, J u n e 30,1888, Public debt. Interest-bearing debt— Principal , $1,788,,616,612. $1,704191,262.00 1,528,433,912, 00$1,402,«52,662, 00$1,291,187,362. 00$1,260,774,462.00 $1,210,637,612.00 $1,086,315,.862.00 $1,015,140,012,00 12,925,629,09 12, 860, 514. 88 12, 351,603,18 11, 624,205, 28 Interest 22,168, 677. 03 15, 299, 209.99 13, 886, 662. 95 13,108,451. 71 23, 969, 808. Matured debt— Principal 7, 831, 415, 26 19, 656, 205. 26 4,100, 995, 26 ' 9, 704, 445, 26 6,115,165. 26 2, 496, 095, 26 ; 621, 455. 6. 723, 865.36 16,260,805.26 814, 444. 535, 251. 84 366, 824. 74 347, 214. 06 227,199. 52 Interest 718, 686, 08 224, 020. 42 190, 763. 87 "168, 267, 86 Debt bearing no interest— 60, 535, 00 59, 695. 00 58, 440. 00 57, 950. 00 60, 975. 58, 985, 00 67, 445. 00 - 56, 807. 50 Old demand notes . . . . . 57, 130, 00 Legal-tender notes 346, 681,016. 346, 681, 016, 00 346, 681, 016. 00 346,681,016.00 346, 681, 016. 00 346, 681, 016. CO 346, 681, 016. 00 346, 681,016, 00 346, 681, 016. 00 11, 650, 000, 00 13. 245, 000. 00 13, 060, 000, 00 12,190, 000, 00 29, 585, 000. 00 18. 250, 000. 00 8, 770,000, 00 14. 415, 000.00 Currency certificates. 14, 305, 000. 963, 900. 5, 759, 520, 00 5, 029, 020. 00 59, 807, 370. 00 71,146, 640, 00 126, 729, 730. 00 76, 044, 375, 00 91, 225,437. 00 119, 887, 370. 00 Gold certificates 7, Silver certificates 39,110, 729. 00 54,.506, 090. 00 72, 620, 686, 00 96, 427, Oil, 00 101, 630, 946. 00 88,116, 2-25, 00 142,118, 017. 00 200, 387, 376. 00 5, 789, 569, 7, 000, 690. 81 6, 980, 061, 31 6,964,176." 6, 954,087, 52 7, 047, 247.77 6, 946,964. 37 6, 922, 643. 82 Fractional currency... 7,.105, 953, 32 '*7, 214. 954. Total debt 1,924,166, 312. 761, 2, 202, 837,734, 58 2,144,170, 243. 691, 987, 097, 247. 86 Oash in the Treasury. Available for reduction of the public debt— Gold "held for gold certificates actually outstanding . . *. 7, 963, 900. 00 5, 759, 520.00 5, 029, 020. 00 59,807, 370, 00 Silver held for silver certificates actually outstanding 5, 789, 569. 00 39,110. 729. 00 54, 506, 090. 00 72, 620, 686. 00 U. S. notes held for currency certificates act14,105, 000. 00 11, 650, 000. 00 13, 245, 000. 00 13, 060, 000, 00 ually outstanding Cash held for matured debt and interest accrued and unpaid 32, 405, 708, 21 29, 611, 228. 37 32, 095, 267. 09 22, 084, 902.95 53,159,11 17, 764.44 67, 594, 37 4, 657, 64 Fi-actional currency.:.. Cash held for bonds called, not matured... Total available for reduc. ion of the debt. Keserve fund h d d for redemption of U. S. notes.Unavailable for reduction of the debt^Fractional silver coin... Minor coin 60, 331, 771. 68 86,184,636.48 857, 782, 401. 34 1, 889, 577 103. 751, 769,529, 741, 08 1, 717, 784, 793. 72 1, 700, 771, 948. 68 zn a 71,146, 640, 00 126, 729, 730.00 76, 044, 375. 00 96, 427, Oil, 00 101, 530, 946.00 88,116,225.00 12,190, 000. 00 29, 585, 000, 00 18, 250, 000. 00 8, 770,000.00 3.4, 415, 000, 00 33, 111, 871.03 7, 027. 28 17, 253, 823, 87 22, 788, 980. 56 3, 285. 91 2, 667.17 18, 657,522. 31 366. 07 14, 288, 568. 40 1, 367. 97 91, 225,437. 00 119, 887, 370, 00 142,118, 017, 00 200, 387, 376. 00 19, 716, 104,893,131. 53 167, 577, 616, 59 212, 882, 549. 31 275,102, 785, 78 205, 202, 247, 73 280, 489,842, 38 348, 979, 672, 37 100, 000, 000, 00 100, 000, 000, 00 100, 000, 000. 00 300,000,000.00 PO 100, 000, 000.00 100, 000, 000, 00 100, 000, 000, 00 100, 000,000, 00 100, 000, 000, 00 24, 350, 481. 80 27, 247, 696, 93 28, 048, 630. 58 28, 486, OOL 05 29. 600, 720.05 31, 236, 899.49 28, 904, 681. 66 377, 814, 00 786, 005. 87 449, 072.48 868, 465. 64 1, 232,722.43 574,17.0.85 768, 988. 76 * Decreased b y $8,375,934, a m o u n t estimated as lost or destroyed, act of J u n e 21, 1879. 26, 977,493, 79 116, 698, 76 26, 051, 741.19 112, 036, 58 PO ]^o. 3 6 . — R E C A P I T U L A T I O N O F T H E P U B L I C ' D E B T S T A T E M E N T F O R T H E CLOSE O F E A C H F I S C A L Y E A R , ETC.—Continued. J u n e 30,1880. J u n e SO, 1881, J u n e 30,1882. J u n e SO, 1883. J u n e SO, 1884. J u n e 30,1885. J u n e 30,1886. J u n e 30,1887. O J u n e 30,1888, • Oash i n the T r e a s u r y — C o n . Certificates h e l d a s c a s h Legal tender Gold Silver N e t c a s h b a l a n c e on h a n d . . Total cashin Treasury, as shown b y Treasu r e r ' s g e n e r a l account - .P u b l i c debt less available cash i n the T r e a s u r y D e c r e a s e of i n t e r e s t - b e a r i n g debt D e c r e a s e of m a t u r e d d e b t D e c r e a s e of d e b t b e a r i n g n o i n t e r e s t j e x c l u d i n g certificates I n c r e a s e of m a t u r e d d e b t N e t d e c r e a s e of p r i n c i p a l of d e b t D e c r e a s e of i n t e r e s t d u e and accrued . . . T o t a l d e c r e a s e of d e b t I n c r e a s e of a v a i l a b l e cash, e x c l u d i n g f u n d s h e l d for r e d e m p t i o n of c e r t i f i c a t e s . D e c r e a s e of a v a i l a b l e c a s h , e x c l u d i n g f u n d s held for r e d e m p t i o n of c e r t i f i c a t e s . $360, 000,00 40; 700. 00 6, 584,701. 00 8,188,246.07 $275, 000. 00 23, 400. 00 12, 056, 801.00 22, 790, 875.07 $75, 000. 00 8,100. 00 11, 590, 620. 00 *1, 775, 034. 81 $315, 000.00 22, 571, 270. CO 15, 996,145. 00 9, 869, 699.43 $195, 000. 00 27, 246, 020. 00 23, 384, 680. 00 *2, 092, 029. 93 '$200,000.00 13,693,410.00 38, 370, 700. 00 29, 240,168. 32 $250, 000.00 56,129, 870.00 27, 861, 460, 00 75,191,109.95 201, 088, 622. 88 249, 363, 415.35 243, 289, 519. 78 345, 389, 902.92 391, 985, 928.18 488, 612, 429. 23 492, 917,173. 34 $310, 000. 00 $250, 000. 00 30, 261, 380. CO 22,135, 780. 00 29,104,396. CO 3,425,133. 00 40, 853, 369. 28 103, 220, 464. 71 629, 854, 089,85 PO 2,034,317,716,93 1,936,194,732.14 1,783,979,15L14 1,646,718,996.74 1,546,991,881.96 1,485,234,149.65 L 389,136,383. 40 1,279,428,737.02 1,166,584,656.64 o 482,433, 917. 23 84, 426, 350.00 897, 590. 00 175, 757, 350. 00 125, 681, 250. 00 8,429, 390. 00 111, 665, 300. 00 30, 412, 900. 00 15, 555, 210. 00 50,136, 850. 00 124, 321, 750. 00 3, 589, 280.00 71,169, 850. 00 3, 619, 070, 00 8,628,146.41 109, 441. 05 59, 545. 56 9,536, 940. 00 47, 266. 96 21,174,50 11, 824, 790.00 16, 375.43 10, 593. 36 5, 603, 450. 00 7, 438.15 24, 643.'05 215, 745, 331. 41 85, 432, 381. 05 166, 279, 955. 55 134, 057, 906, 96 99, 861, 684. 50 45,984,485.43 44, 543,993, 36 127, 918, 468.15 74, 813, 563. 05 7, 946, 803. 75 1,896, 889. 84 7,052, OOL 28 1,580,974,14 7-97, 821. 92 302, 837.16 68, 293. 31 542,178.25 749, 883.91 223, 692,135.16 87,329, 270. 89 173, 332, 856, 83 136, 638, 881.10 100, 659, 506,42 46,287, 322. 59 44,612, 286. 67 128, 460, 646,40 75, 563,446. 96 15,470, 409. 72 61,485, 479, 58 177, 723, 010. CO .29,394,175.00 o W a Ul 1,-621, 273, 30 11, 793, 713. 90 145,419,156. 87 932, 391. 64 22,117, 275.83 38, 280,633.42 18, 753, 000. 02 D e c r e a s e of d e b t , less available cash 178, 272,978. 29 99,122, 984.79 151, 215, 581, 00 137,260,154,40 99, 727,114, 78 61,757, 732. 31 96, 097, 766. 25 109, 707, 646, 38 A n n u a l interest charge on public debt D e c r e a s e of a n n u a l i n t e r e s t charge 83, 511, 391. 72 78,896,106. 22 61,237,521.47 65, 314,120. 22 51, 803, 843.22 50, 891, 543. 72 49, 387, 508. 72 45, 657, 939.72 10, 232, 368.40 4, 615, 285. 50 17, 668, 584. 75 5, 923,401. 25 3, 510, 277. 00 912,299.50 1, 504,035. 00 3, 729, 569. 00 po H " Overdrawn. t Actual decrease $69,897,044.29. 113, 844,080. 38 42, 869, 345. 97 ' 2,788,593.75 71 TEEASUEER. No. 37.—BALANCED STATEMENT OF R E C E I P T S AND D E L I V E R I E S OF M O N E Y S B Y THE NATIONAL BANK R E D E M P T I O N A G E N C Y FOR T H E FISCAL YEAR 1888. • Amount. Dr, To cash balance June 30, 1887 . To national-bank notes received for redemption To " o v e r s " reported jn national-bank notes received / / / / • / / By nationai-bank notes, fit for circulation, forwarded to national banks by express. = By national-bank notes, unfit for circulation, delivered to the Comptroller of the Currency.. 14,749.28 By notes of failed and liquidating national banks deposited in the Treasury of the United States By United States notes depos*ited in the Treasury of the ' United States. ..^ 1 By packages referred and moneys returned ......... B.y express charges deducted . . . By counterfeit notes rejected and returned By national-bank notes—less than three-fifths, lacking signatures, and stolen—rejected and returned, and discount on United States currency By ' - s h o r t s " reported in national-bank notes received for redemption By packages with unbroken seals By cash balance J u n e 30, 1888... Amount. $2,165,539.41 99,152, 364. 34 101,332,653,03 Total Cr. Total $17,453, 780.00 75,912,756.45 92,672.00 182, 678.30 806,396.48 716.62 2,722.00 1,979.40 2, 741. 70 105, 830. 00 6, 770, 380. 08 101, 332, 653. 03 -^Q^ 38.—BALANCED STATEMENT OF R E C E I P T S AND D E L I V E R I E S OF M O N E Y S B Y THE NATIONAL BANK R E D E M P T I O N AGENCY FROM J U L Y 1, 1874, TO J U N E 30, Amount. Dr. To national-bank notes received To " o v e r s " reported in national-bank notes received • : , • $1, 871, 778, 513. 06 244, 746. 06 / / / / • / / 3 Total 1, 872, 023, 259,12 1 Cr. . By national-bank notes, fit for circulation, deposited in the Treasury, and forwarded to national banks by express By national-bank notes, unfit "for circulation, delivered to the Comptroller of the Currency By notes of failed and liquidating national.banks deposited in the Treasury of the United States . - - -> By United States notes deposited in the Treasury of the United States By packages referred and moneja returned By express charges deducted . . . By couuterfeit notes rejected and returned . By national-bank notes—less than three-fifths, lacking signatures, and stolen—rejected and returned, and discount on United States currency By " s h o r t s " reported in national-bank notes received for redemption By packages with unbroken seals By cash balance June 30, 1888... / Total Amount. $752,513,9n.0O 969, 732, 2U. 95 131,117, 797. 50 2,131, 237. 90 9, 285, 859. 23 43, 956.47 54,165. 25 91, 934. 70 175, 975. 04 105, 830. 00 6, 770, 380. 08 1, 872, 023, 259.12 NO. 39.—NATIONAL-BANK N O T E S New York. Month. • Boston. RECEIVED FOR Philadelphia, R E D E M P T I O N * DURING E A C H M O N T H C I T I E S AND OTHER P L A C E S . Chicago, Cincinnati, Saint Louis. Baltimore, OF THE New Orleans, FISCAL YEAR 1888, Providence, Pittsburgh, FROM T H E Other places. Total.. PRINCIPAL N u m b e r of • packages. 1887—July $2, 215, 430 August 2, 008. 300 Septeraber 1, 780, 443 October 1,752, 135 November.2,046,737 December. 3, 312, 604 1 8 8 8 - J a n u a r y . . . 5, 754, 440 , F t b r u a r y . .. 4, 377, 746 March 3, 078, 797 April 4,421.992 May 6 3G9. 909 June ' 0, 292, 663 $531, 620 731, 420 466, 070 810, 941 1, 070, 920 2, 084, 630 2,627,070 1,113, 900 696, 350 891,780 1, 249, 508 888,180 $694, 811 698, 000 480, 545 500, 609 415,3 84 '491,192 645, 905 535, 700 431, 620 554, 240 C629, 574 623, 673 $401, 500 427, 500 392, 500 421, 000 360,500 351, 600 494,160 411, 600 476, 000 . 459,000 552, 000 762, 300 $245,750 252, 600 231, 580 192, 000 138, 259 105, 300 191,400 153, 000 255, 000 334,100 453, 000 173, 700 $276, 268 201, 000 213, 000 248, 040 204, 000 137,100 148, 500 124, 000 463, 500 441, 500 425, 500 151, 500 $198, 000 214,000 364,000 161, 000 3 85,000 270, 000 323, 000 264, COO 144,000 301,000 321, 000 382, 000 $82, 000 90, 502 130, 000 134, 630 89, 526 92, 541 92, 000 114, 500 117,50O 163, 500 133, 000 88, 000 $62,000 73,500 69, 000 60, 500 65, 000 02,500 76, 000 82, 600 83, 000 77, 700 84, 000 79, 000 $44,150 44, 000 43, 000 55, 939 49, 000 63, 000 47, 000 59, 000 66, 000 69. 600 52, 500 74, 000 $1,251, 862 1, 280,178 1,131, 489 1, 205, 042 1,174, 949 1, 257, 906 2, 033, 028 1, 940, 493 2,115,507 1, 937. 778 2, 032, 632 1, 872, 517 $5, 903, 291 5, 921, GOO 5,101,627 5, 541, 736 6, 799, 075 8, 228, 273 12, 232, 503 9,176, 339 7,916,274 9, 642, 090 12, 302, 623 11, 387, 533 1,345 1,428 1,370 1,460 1,449 1, 681 1,819 1,887 1,943 1,863 2,022 1,877 T o t a l . 43,411,196 13, 062, 289 6, 400, 953 5, 508, 460 2, 725, 689 3, 033, 908 2, 927, 000 1, 327, 699 874, 700 647, 089 19, 233, 381 99,162, 364 20,134 1.117 6.46 5,56 2.75 3.06 2,95 1.34 ,88 . 66 19. 40 100. 00 Percentage. 43.78 IN2 PO O PO H O W No. 4 0 . — R E S U L T OI*^ THE C O U N T OF N A T I O N A L - B A N K N O T E S R E C E I V E D FOR R E D E M P T I O N , B Y FISCAL YEARS, TO J U N E 30, 1888. 1-H Fiscal year. 1875 1876 1877 1878 1879 1880.. 1881 1882 1883 1884 1885 1886 1887 1888 Total Referred and returned. Claimed b y owners. "Overs." $154, 526, 760.16 210, 032, 975. 26 242,885,375.14 213,151, 458, 56 • 167,665,844,96 63,586,475.68 59, 650,259.43 76, 089, 327.48 102, 582, 656, 73 126, 220, 881, 34 150, 257, 840. 01 130,296, 606.82 87,689,687.15 99, 046, 534. 34 $24, 644.85 16, 491.42 24, 996. 58 37, 649. 20 22,148.42 6,461. SO 13, 231.38 11, 222.13 8, 092, 09 6, 006.30 17, 060.07 26, 528. 97 16, 404.07 14, 749. 28 $20, 223. 50 $1, 620, 557.39 16,176. 26 1, 065, 002. 20 29, 704.43 1, 278, 903,86 384, 372, 22 16, 394. 60 329, 323, 34 9, 906. 35 305, 432,14 9, 868. 97 569, 971. 06 6, 618. 26 672, 427. 09 13, 405,13 727, 282. 98 10,103. 35 455, 333. 05 3, 785. 60 329, 249.19 6, 445, 25 277,194, 78 8, 246.65 464,413.45 22, 366. 00 806, 396.48 2, 741. 70 1, 871, 672, 683.06 244,746.06 175,975.04 "Shorts." 9, 285, 859. 23 Rejected, $15, 028,12 7, 709. 22 4, 755, 91 3, 997,13 6, 282. 58 7, 870, 23 22, 763.37 3, 832, 35 4, 337. 62 3, 365. 77 3, 636. 49 3, 822. 28 2, 554, 23 1, 979. 40 91. 934. 70 Counterfeit. Express charges. $3, 741, 00. 5,188, 00 6, 634, 00 4, 008. 00 3, 016. 00 $25,842.15 3, 846, 75 9, 938, 41 4, 324. 50 3, 346.03 4,161. 00 1,152.09 4,659,50 726. 84 3, 770. 50 523. 54 3, 560, 00 612.25 2, 720. 00 526. 96 2, 924, 00 573.58 2, 722, 00 716.62 54,165. 25 43, 956.47 N e t proceeds. $152,891,865.00 208, 955, 392. 00 241,691,373.52 212, 780, 335. 81 157, 303, 622, 96 61, 255, 980.48 59, 066, 468.60 75,405, 581. 95 101, 843, 739.53 125, 760,169.18 149, 931, 396. 90 130,029, 625.12 87, 213, 269. 96 98, 246, 727.42 1, 862, 265, 538.43 O zn 73 TREASURER. NO. 41.—MODE OF P A Y M E N T F O R N O T E S R E D E E M E D B Y T H E NATIONAL BANK R E DEMPTION A G E N C Y , B Y FISCAL Y E A R S , TO J U N E 30, 1888. Transfer checks. Fiscal year. 1875 1876 1877 1878 1879 • 1880 1881 1882 1883 1884 1885 . . . 1886 1887 1888 - 1 V . . . ... ... - -. - 0 Total Fractional s i l v e r coin. United States currency. $58, 825, 756. CO $50, 858, 842. 00 92, 374, 801, 00 40,120. 338. 00 95,212,743.45 34, 588,129.15 75,361,427.23 23, 046,418, 44 51, 718, 253. 06 14, 617, 619. 41 10, 852, 605.53 21,174, 826. 66 22,415, 972, 28 19, 567, 744.21 32,992,144,72 23, 222, 831. 83 56, 018, 447.71 23, 668, 064. 66 77, 991, 916. 83 24, 080, 304. 62 105,840,234.80 19, 236, 730. 27 74,149, 655, 26 9, 204, 752. 76 39, 996, 984, 07 15, 657, 298, 62 53, 463, 333, 36 19,280,725,65 847,214,075,30 338, 324, 626. 28 Counter redemptions. C r e d i t i n gene r a l acco a n t . / Fiscal year. 1875 1876 1877 1878. 1879 1880 1881 1882 1883 1884 - . 1885 1886 1887 "^ 1888 .... . . . . Total $100, 000. 00 $24, 066, 844.00 4, 738, 979. 00 19, 078, 209. 00 6, 675, OCO. 00 12, 789, 757, 00 2, 661, 021. 00 12, 609, 083, 76 6, 089, 222. 80 35,148,181. 38 3, 883,417. 60 18, 218, 070. 37 8,936, 232. 92 3, 522, 607. 00 10,106, 238.45 4, 033, 402, 40 12, 428, 692. 86 3, 941, 638. 00 3, 826, 293. 00 12, 960, 221, 66 3,848,090.50 13, 944, 370. 50 8, 385, 485. 00 31, 007, 087, 30 4, 200, 654. 50 24, 768,344, 79 3, 229, 772. 00 20,149, 324. 00 58,135, 682, 80 256, 210, 657. 99 Standard s i l v e r dollars. $468, 974. 00 549, 645, 40 52,178. 90 28. 230. 59 85,164, 56 246, 447.42 296, 257. 79 158,127. 60 135,773.22 103, 843. 62 97,670.41 90, 684. 97 $96, 683. 32 174, 831. 85 215, 045. 27 269, 918.44 242,518.37 1, 016, 519.10 482, 500. 35 451,194, 22 248, 970. 92 202, 537.79 2, 312, 998,48 3,399,719. 63 Credit in redemption accounts. $19, 040, 413. 00 52, 643, 065. 00 91, 856, 769. 92 98. 552, 739. 98 50, 581,484. 09 6, 924, 097. 88 4, 313, 702. 36 4, 534, 598. 69 5, 248,120.14 5, 727,786. 37 6, 443, 697. 26 6, 727, 706. 96 2, 243, 346. 65 1, 830, 349.65 Total. $152, 891, 855. 00 208, 955, 392, 00 241, 591, 373. 52 212, 780,335. 81 157, 303, 622.96 61, 255, 980.48 59, 056,468. 60 . 75,405, 581.95 101,843,739.53 125, 760,169.18 149, 931, 396.90 130. 029, 625.12 87, 213, 269. 96 98, 246, 727. 42 356, 667, 877. 95 1,862,265,538.43 0 No. 42.—DISPOSITION MADE OF T H E N O T E S R E D E E M E D B Y T H E R E D E M P T I O N AGENCY, B Y F I S C A L Y E A R S , TO J U N E 30, NATIONAL 1888. BANK D e l i v e r e d to t h e C o m p t r o l l e r o f t h e C u r r e n c y . Returned Fiscal year. to b a n k s of i s s u e . 1875.. 1876 1877.. 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 1888. Five per c e n t , account. Reducing account. Liquidati n g account. Failed account. Deposited in T r e a s ury. Balance on h a n d . $15,213, 500 $115,109,445 $17, 532, 008. 00 $5; 036, 902. 00 97,478, 700 78, 643,155 29, 927, 900, 00 7, 942, 539, 00 151, 070, 300 62, 518, 600 24,439,700.00 11, 505, 312. 52 162, 437,300 51, 585, 400 11, 852,100. 00 8, 410, 848. S3 112, 411, 800 40, 204, 700 9, 313, 382. 00 3, 784, 589. 29 24, 980, 500 29, 861, 700 7,100, 386. 00 3, 097, 983.77 6, 763, 600 40, 080, 700 12,466, 045. 00 2, 844,107. 37 3, 801, 500 53, 838, 500 16, 978,700. 00 3, 630, 989. 32 15, 572,100 59, 875, 000 $17, 642, 869, 00 $i, i46, 889, 00 4, 674, 927.00 6, 562, 943. 85 26, 255, 500 72,260,700 20,486, 304. 00 2, 869, 060, 00 3, 589, 808. 00 6, 861, 741. 03 45, 634, 800 72, 669, 700 20, 692, 213. 00 5, 236,257.00 5, 769, 080. 00 6, 791,087.93 46, 701,100 54, 532, 935 14, 311,170.00 13, 412, 608. 50 4, 022,497. 50 3, 840, 402.05 20, 786,640 30, 506, 030 19, 647, 970. 50 16, 687, 549.50 1, 259, 942. 60 2,165, 539. 41 17, 453, 780 25, 843. 765 29, 008,271. 00 20, 662,140. 25 $398, 580, 20 275, 350. 30 6, 770, 380. 08 T o t a l . . . . . 736, 561, 120 787, 530, 330 121, 788, 797. 50 60, 014, 504. 25 398, 680. 20 149, 201, 826. 40 74 REPORT ON T H E FINANCES. No. 43.—DEPOSITS, R E D E M P T I O N S , ASSESSMENTS F O R E X P E N S E S , AND T R A N S F E R S AND R E P A Y M E N T S , ON ACCOUNT O F T H E F I V E P E R C E N T . R E D E M P T I O N F U N D O P NATIONAL BANKS, B Y F I S C A L Y E A R S , TO J U N E 30, 1888, AND BALANCE OF T H E D E P O S I T S AT T H E CLOSE OF E A C H YEAR. Fiscal year. Deposits. 1875 1876 1877 1878 1879 1880 1881 1882 1883 .' 1884 1885 1886 1887 1888 Total Redemptions. Assessments. $140, 874, 563. 53 177,485, 074. 44 215, 580, 271. 83 205, 308, 371,37 156, 670,138.19 56, 512, 201.10 48, 831, 326. 63 58, 041, 777. 64 76, 307, 727. 55 98, 883, 599.17 117,172, 640.18 103, 359, 393. 61 52, 522. 359.27 43, 290, 223. 72 $130, 322, 945. 00 176,121, 855. 00 $290, 966. 37 214, 361, 300, 00 365,193. 31 203, 416,400. 00 357, 066.10 152,455, 000. 00 317, 942.48 54, 837, 600, 00 240,949.95 46, 844, 300. 00 143, 728. 39 57, 644, 500. CO 126, 212.12 75, 452,100. 00 • 142,508.72 98, 553,100. CO 150, 611. 53 178, 579. 34 118, 745, 200. CO 175, 522.15 100, 794, 895, CO 160, 611.15 51, 261, 200, 00 135,180, 53 43, 379,185. 00 1, 550, 839, 668. 23 1, 524,189, 580. CO 2, 785, 071.14 Transfers and repayments., Balance. $1, 000,262.76 $9,551,355.77 1, 634,644.11 8, 988, 965.73 782, 797.06 9, 059, 947.19 530,180. 92 10, 064, 671.54 580, 732. 28 13, 381,134.9" 789, 961. 25 14,024,824.87 1, 415, 570. 04 14, 452, 553. 07 978, 047. 03 13, 745, 571.56 1,136, 352. 83 13,322,337.56 1, 314,180.15 12,188, 045. 05 1,077,584.73 . 9,359,32L16 1,552,680.34 10,195, 617.28 3, 327, 246. 34 7, 968, 919.06 1,219,495.34 6,525, 281. 91 17, 339, 735.18 No. 4 4 . — D E P O S I T S , R E D E M P T I O N S , AND T R A N S F E R S AND R E P A Y M E N T S , ON ACCOUNT . OF NATIONAL BANKS TH.\T H A V E F A I L E D , B Y F I S C A L Y E A R S , TO J U N E 30, 1888, I {AND BALANCE OF T H E D E P O S I T S AT THE CLOSE OF E A C H YEAR. Fiscal year. 1867 1868.: 1869 1870 1871 . . . 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885. . 1886 1887 1888 . ' Deposits. . a . . . .. : Total ...... .. . .... . .... . $44,000,00 648,171. 95 653, 220. 20 27, 732, 00 96, 209. 60 1, 473,459.25 474, 701. 25 724,126.64 1,434,065.96 586, 535, CO 856, 988. 25 598,104. 50 814, 870.25 217,008, 00 325, 562. 50 975, 729. 25 452, 787. 50 634,780.CO 837, 413. 00 885,440.00 297, 890, 00 581, 338. 00 13,639,133,00 Redemptions. $87, 230. 00 584, 762.66 419, 978, 90 122, 227.60 104,159. 50 842, 369. 35 818, 627, 00 458, 510, 00 1,115,693. 00 770, 818. 80 773, 915. 00 752, 497. 60 636,613.50 382,116,50 426, 888, 50 533, 504.50 722, 808. 00 625, 212. 00 703, 785. 50 608, 707. 00 406, 773. 50 437, 793. 20 12, 334, 981. 50 Transfers and repayments. I $99, 323. 00 83,445.00 182,768. 00 Balance. $20,189.30 253,430.60 158,^935.00 150 985.10 782, 075. 00 438,149.25 703, 765. 79 1, 022,138.75 837, 854. 95 919, 928. 20 765, 535.20 943,791.95 778, 683.45 677, 357.45 1,119, 582.20 849, 561. 70 859,129. 70 893,434.20 1,170,167. 20 977, 838.70 1,121, 383. 50 75 TREASUREE. No. 45.—DEPOSITS, REDEMPTIONS, AND TRANSFERS AND R E P A Y M E N T S , ON ACCOUNT OF NATIONAL BANKS I N LIQUIDATION, B Y F I S C A L YEARS, TO J U N E 30, 1888, AND BALANCE OF T H E D E P O S I T S AT T H E CLOSE OF EACH YEAR. Fiscal year. 1867 1868 1869 1870 1871 1872 . . . 1873 1874. 1875. 1876 1877.. 1878.. 1879.. 1880 1881 1882 1883.. 1884.. 1885 1886 1887 1888 '. Deposits. : :.. :.. . .' . . . Total Redemptions. $37,490.00 92,198.25 112, 500.00 758, 428. 00 2, 920, 861.00 1, 999, 645. 00 1, 858, 620, 00 2, 561, 283. 00 3, 316, 721.00 2, 607, 643. 00 1, 878, 016.00 2, 561,039. 50 2, 569,228. 00 1, 056,183. 00 1,281, 96L 00 7, 957,752. 00 7, 284, 980. 00 5, 015, 950.50 12, 684, 354.00 35, 202, 542. 75 31, 435, 378. 25 25, 539, 318.10 $5, 600. 00 17,427. 75 38, 430.50 80, 527. 65 1, 203, 367.50 2,531, 784. 55 2,423,151.00 915, 990. 00 1, 974, 954. 00 2,509,466.50 2,405, 317. 00 1, 810, 752, 00 1, 554, 086.50 1,058,414.50 • L 144, 906.40 1, 769, 756. 00 4, 595, 593. 00 5, 746.173. 50 7, 066, 226. 50 14,637, 711. 00 17,313,545.00 20,717,893.25 150,732, 092.35 91,621,064.10 Transfers and repayments. Balance. $31,890.00 106,660.50 180, 730.00 858, 630. 35 2, 576,123.85 2,043,984.30 1, 479, 453,30 $900. 00 3,123, 846. 30 2, 000.00 4, 463, 613. 30 4, 661, 799.80 29, 662. 66 4, 004, 836. 80 163,429. 50 4, 591, 694.80 179,594.00 5,427,242.30 5, 425, 010.80 5,562,065.40 17, 757. 00 11,732, 304.40 14,421, 691.40 531, 900. 00 13,159, 568.40 109, 793. 00 18, 667, 902.90 143, 596. 00 39, 089,138. 65 91, 229. 00 53,119, 742.90 255, 897.60 57, 685, 270.15 1, 525, 758.10 No. 46.—DEPOSITS, REDEMPTIONS, AND TRANSFERS AND REPAYMENTS, ON ACCOUNT OF NATIONAL BANKS R E D U C I N G CIRCULATION, B Y F I S C A L YEARS, TO J U N E 30,1888, AND BALANCE OF T H E DEPOSFTS AT T H E CLOSE OF EACH YEAR. Fiscal year. 1875 1876. 1877 1878 . . . : 1879 1880 1881.. 1882.. 1883.. 1884 1885 1886 1887 1888 Deposits. Total $624, 920. 00 401, 266. 00 619, 652.00 260,337.00 572, 060.00 172, 611. 00 1, 517, 446. 00 3, 719,612. 00 1,284,705.00 440, 400. 50 3, 550, 000.00 1, 248, 710.00 842, 723. 00 2,140, 905.50 269, 211, 661. 00 218, 670,123. 00 17, 395,348. 00 < « Transfers and repayments. $7, 822, 019. 00 21, 044,412. 00 21, 871, 523. 00 9,446, 626. 00 5, 866, 001.00 4, 961, 385. 00 10, 773, 004. 00 14, 505, 346. 00 18, 233,878. 50 20,486, 304. 00 20, 692,213. 00 14, 311,170. 00 19, 647, 970.50 29, 008, 271. 00 $21,164, 854, 00 29, 300, 469. 00 9, 985, 065. 00 6, 080, 650. 00 7, 222, 805.00 13,042,896.00 26, 063, 959. 00 15, 522, 365. 00 16, 200, 398. 00 25, 389, 470. 00 17, 927, 785.00 16, 514, 285. 00 44, 396, 630, 00 20,400, 030, 00 :...' Redemptions. Balance. $12, 717,915.00 20, 572, 706. 00 8, 066, 596.00 4,440,283.00 5, 225, 027. 00 13,133; 927.00 26,907,436.00 24, 204, 843. 00 2U, 886, 657.50 25, 349, 423. 00 19, 034, 995.00 19, 989,400.00 43, 895, 336. 50 33,146,190.00 76 R E P O R T ON T H E FINANCES. No. 4 t . — A G G R E G A T E D E P O S I T S , R E D E M P T I O N S , AND T R A N S F E R S AND R E P A Y M E N T S , ON ACCOUNT OF NATIONAL BANKS F A I L E D , I N L I Q U I D A T I O N , AND R E D U C I N G C I R CULATION, BY F I S C A L Y E A R S , TO J U N E 30, 1888, AND BALANCE OP T H E D E P O S I T S AT T H E C L O S E O F E A C H Y E A R . Fiscal year. Deposits. 1867..: 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878.. 1879. 1880 1881 1882 1883 1884 1885 1886 1887 1888 490.00 740, 370. 20 765, 720, 20 786, 160,00 3,017, 070.60 3, 473, 104. 25 2, 333, 32L 25 3, 285, 409. 54 25, 915, 640.96 32, 494, 647. 00 12, 719, 069. 25 9, 239, 794.00 10, 606, 903, 25 14,-316, 087. 00 27, 671, 482, 50 24, 455, 846,25 23, 938, 165. 50 31, 040, 200. 50 31, 449, 552, 00 52, 602, 267. 75 76,129, 898, 25 46, 520, 686.10 Total No. 433, 582, 886, 35 48.—PACKAGES OF Redemptions. Transfers and repayments. $92,830,00 602,180,40 458, 409,40 202. 755. 25 1, 307, 527. CO 3, 374,153. 90 3, 241, 778. 00 1, 374, 500. 00 10, 912, 666.00 24, 324, 687. 30. 25, 050, 755. 00 12, 009, 875. 50 8, 056, 70L 00 6, 401, 916. 00 12, 344, 798. 90 16, 808, 606, 50 23, 562, 279.50 26, 857, 689. 50 28, 462, 225, 00 29, 557, 588, 00 37,368,289.00 50,163, 957.45 322, 526,168. 60 NATIONAL-BANK NOTES YEAR 1888. Balance, $126, 849. 80 434, 160. 60 1,017, 565. 35 2, 727, 108.95 2, 826, 059. 30 1, 917, 602. 55 $900, 00 3, 827, 612.09 626, 920. 00 18, 203, 667.05 401,266,00 25, 972, 360.75 649, 314. 00 12, 991, 361.00 423, 766. 50 9, 797, 513.00 751, 654. 00 11,596, 061.25 172, 611.00 19, 337, 62L25 1, 517,446. 00 33,146, 858.85 3, 737, 369. 00 37, 056. 729. 60 1, 284, 705.00 36,157, 910. 60 972, 300. 50 39, 368, 121.10 3, 759,116, 00 38, 596, 332.10 1, 392, 306. 00 60, 248, 705.85 1, 017, 397. 00 97, 992, 918.10 2, 396, 803.10 91, 952, 843.65 19,103, 874.10 DELIVERED DURING THE FISCAL P a c k a g e s of a s s o r t e d n a t i o n a l - b a n k n o t e s , fit for c i r c u l a t i o n , f o r w a r d e d b y e x p r e s s t o n a t i o n a l banks 13,562 P a c k a g e s of a s s o r t e d n a t i o n a l - b a n k n o t e s , unfit for c i r c u l a t i o n , d e l i v e r e d t o t h e C o m p t r o l l e r qf the Currency , 82,035 Total No. 49. -EXPENSES 95,597 I N C U R R E D I N T H E R E D E M P T I O N OF DURING T H E FISCAL YEAR 1888. C h a r g e s for. t r a n s p o r t a t i o n C o s t s for a s s o r t i n g : Salaries. Printing and binding Stationery Contingent expenses Total NATIONAL-BANK N O T E S $51, 529,76 $86,232.40 ^ 2,580.78 , 687.44 IILIO 89, e n . 72 : . . . - - . 141,14L48 77 TREASURER. No. 50.—MONTHLY R E C E I P T S FROM CUSTOMS AT N E W YORK FROM A P R I L , 1878, TO S E P T E M B E R , 1888, AND P E R C E N T A G E OP. E A C H K I N D OF M O N E Y R E C E I V E D . Silver Gold R e c e i p t s , | Gold coin. Silver coin certificates certificates Month, P e r cent. 0,6 6.2 5.4 P e r cent. 0.1 0.8 0.1 Per cent 95,4 76-. 7 60.1 15, 737, 329 4, 8 0.4 ' 73.3 19.9 L6 8, 201, 698 10, 249, 459 9,199, 455 8, 387, 976 6, 824, 556 6, 264, 674 4,6 4.3 4.7 5.2 5.9 60,3 0.1 0.3 0.3 0.4 0.3 0.3 65.0 7L0 75.1 64.6 63.7 13.1 29,1 23.5 • 18.6 28.6 28.6 24.9 1.2 0.9 1.3 L2 L5 1.4 49,127, 818 12,0 0.3 6LS 25.2 1.2 7, 659, COO 6,1 2, 2 0,6 0,9 0.6 0.1 0.3 0.2 0,1 0.2 0,2 3.9 0.5 0.1 0.2 0.1 20,4 6.1 2.7 3,3 4,7 6.2 69.5 90.9 96.4 95,1 94,1 93.0 48,216,000 L9 0.2 0.8 9, 335, 000 10, 565,000 11, 472, 000 . . . . 10, 979, 000 8,467, 000 8,175,000 0.3 0,4 0,5 19.5 46.4 66,9 0.1 0.3 0.2 0,1 0.2 ,0.2 58, 993, 000 19.8 0.2 11, 969, 000 12, 258, 000 14, 477, 000 11, 818, 000 9, 852, 000 10, 701, 000 68.3 , 63,2 69,0 62.2 52,1 48,8 0,2 0,1 0.1 0.1 0.2 0,1 1 8 7 8 - A p r i l (18th to 3 0 t h ) . . . $3, 054, 364 6, 617,137 May 6, 065, 828 June.Total July i September October November December ••• Total ig7g_ January February March April May . . .. . . Total July August Sentember October .... November December Total 1880—January February M a r c h '. April May June. P e r cent. 2.6 . 15.8 32.6 ' United States notes. 8, 236, 000 9, 339, 000 8,190, 000 7, 584, 000 7, 208, 000 L 3 1.9 • 0.3 P e r cent. LS 1.5 1.8 7.0 90.1 15.1 18.6 20.8 2L8 27.4 23.4 84.5 80 8 78.5 58.6 24.1 9.5 2L0 58.7 16.5 21.8 24,9 29,7 27,1 32.9 15.0 14.9 6.0 8.0 20. 6 18.2 Total 71,075, 000 6L4 0.1 26.3 13.2 July August September October November December 13, 301, 000 14, 403,000 12, 859, 000 10, 575, OCO 9, 081, 000 9, 234, 000 57.7 55,9 49.9 42.4 45.0 46,2 0.1 0,1 0,1 0.1 0,1 0.2 SL4 37.8 44.6 6L9 50.0 47.8 10.8 6.2 5.4 5.6 4.9 5.8 Total . . . ; 69, 453, cqo 50,4 0.1 42,9 6.6 1881—-January February March. April M ay •ir- •> June Total 10, 573, 000 11, 221, 000 13,196,000 11, 684, 000 11, 051, 000 11, 013, 000 47.5 44.5 47.6 44.5 45,9 39.3 0.1 0,1 0.1 0.1 0.1 0.1 45,1 44.1 47.1 5L5 60,9 57.0 7.3 11.3 5 2 3.9 3.1 3.6 68, 738, 000 46.0 0.1 49.3 5.6 12, 082, 000 15, 206, 000 14,108, 000 13, 019f 000 9, 718, 000 10, 973, 000 38.8 43.5 37.1 35.8 • 62.9 77.1 .0.1 0.1 0,1 0.1 0.1 • 0.1 57.9 62,8. 60,7 62.1 33.8 18.7 3.2 3.6 2 1 2 0 3.2 4.1 75,106, 000 47.6 0.1 49.3 3 0 13, 393, 000 13, 589, 000 14, 000, 000 10, 528, 000 11, 986, 000 i 11, 434, 000 72,9 66.5 75.6 73.5 70.7 68.7 • 0.1 0.1 0.1 0.2 0.2 0.1 20,3 24.8 19.8 22.2 23.4 23.4 6.7 8.6 4 5 4.1 5.7 7.8 74, 930, 000 72.9 0.1 2L2 6.8 July August September October November December Total 1882—January February March April May June Total 78 REPORT ON T H E FINANCES. No. 50.—MONTHLY R E C E I P T S FROM CUSTOMS, ETC.—Continued. Month. Receipts. Gold c«in. S i l v e r coin. Silver Gold certificates. certificates. United States notes $13, 730, 000 16,487, 000 14,695,000 13,101, 000 9, 939, 000 10, 381, 000 P e r cent. 66.6 46.1 38.8 18,2 10,3 5.3 P e r cent 0.1 0.1 0.1 0.1 0.1 • 0.1 1. 78, 333, 000 33', 6 0,1 12, 674, 000 12,194, 000 12, 436, 000 9,199, 000 8,155, 000 13, 630, 000 4,2 3,9 6.5 10.8 4.7 3,3 0.1 0,1 0,1 0.1 0.1 0.1 68,187, 000 . 5,3 0,1 14, 609, 000 13, 290, 000 12, 050, 000 11, 616, 000 8, 928, 000 9, 338, 000 2,3 2,7 3.2 2.9' 3.1 2.8 0,1 0.1 0.1 0.1 0.1 0.1 Total 69, 831, 000 2,8 0.1 74.7 16.7 5.7 1884—January February March AprU . . . May June 11, 768, 000 12, 069, 000 11, 447, 000 9. 850, 000 9; 289, 000 9,459, 000 2,4 2.1 L8 2.5 3.3 3.1 0.1 0.1 0.1 0.1 0.1 0.1 66.2 67.5 60.7 56.9 46.5 40.0 23,7 22.0 26.4 26.8 35.3 35.6 7.6 8.3 11.0 13 7 14.8 21.2 63, 882, 000 2.5 0.1 57.3 27.8 12.3 13, 111, 000 12, 828, 000 .-... 11, 992, 000 10, 369, 000 7, 717, 000 8, 087, 000 L6 LS L6 L8 L9 1.7 0.1 0.1 0.1 0.1 0.1 0.1 48.1 44.4 32.4 23.6 18.3 17.9 32.4 32.3 SL4 32.1 42.2 44,0 17.8 21.9 34.5 42.4 37.5 36.3 6i, 104, 000 1.6 0.1 33.1 34.8 30.4 10, 306, 000 10, 461, 000 ,. 11, 281, 000 9, 983, 000 9, 523, 000 . 9, 644, 000 Ll 0.8 0,7 0.9 0.7 0.7 0.1 0.1 0.1 0.1 0.1 0.2 26.6 3L4 39.7 38.1 43.0 32. 5 40.5 32.3 34.5 4L3 37.4 33.3 31.7 35.4 25.0 19.6 18.8 33.3 61,198, 000 0.8 0.1 35.2 36.5 27.4 11, 821, 000 12, 700, 500 12,167, OCO 10, 771, 000 8, 730, 000 9, 936, 000 0.7 0.6 0.7 0.8 0.9 0.7 0.2 0.3 0.3 0.2 0.4 0.3 28. >8 47,4 63.4 70,8 56,9 60.5 23.6 13,5 9,8 1L3 13.4 13.8 46.7 38.2 25.8 16.9 28.4 24.7 1882—July August September October November . . . December Total 1883—January February Mfl.rr.h April May June .. Total > July. August . September October.; November ....... December... . Total.. July ..i August September October November December Total 1885—January February March April May June Total July August September October November December. Total 1886 Januarv February. March April May June ... Total July .............. August September October . ....•November . . . . . . « « . . . . December Total..- Per cent P e r cent 24,8 48.2 55.5 32,1 16.2 18.7 Per cent 8 6 5 6 5.6 74 9 5 6 8 24,3 34.8 7.2 72.1 75.1 73,7 65,5 62.2 69.4 15.7 15.9 13.1 17.7 26.1 20.2 7 9 5 0 6.6 6 9 6 9 7.0 70.5 17.7 6.4 " 79.1 73,2 77.8 75,8 67.6 7L3 13.0 18.0 13.9 16.4 22.5 19.4 5 5 6 0 5 0 4.8 6.7 6 4 42.2 63.9 69,1 14.3 30.1 14.8 8.8. 9.2 12.3 15.3 12.6 31.0 47.3 '58.4 66.2 71.4 8L7 27.5 12.2 59.3 2.9 16.5' 67.3 70.8 69.3 66.7 1L3 8.9 9.3 12.0 12.2 15.5 84.8 73.5 22.5 16 2 17.1 16.3 46.5 1L3 41-1 66,124, 500 0.7 0.3 54,6 10, 929, 000 11, 704, 000 12, 512, 000 10, 442, 000 9, 029, 000 11, 887, 000 0.6 0,4 0.6 LO 0.8 0.7 0.3 0.2 0.3 0.3 0.3 0.2 53.3 43.3 3L5 20.2 12.2 4.8 66, 503, 000 0.7 0.3 12, 606, 000 14, 834, 000 12, 944, 000 11, 583, 000 10,175, 000 10, 646, 000 0.7 0.7 0.6 0.7 Ll L2 0.3 0.4 0.3 0.3 0.3 0.3 72, 688, 000 0.8 0.3 ^ ^ ; . 79 TREASURER. No 50.—MONTHLY R E C E I P T S FROM CUSTOMS, ETC.—Continued. Gold coin. S i l v e r coin. Gold Silver c e r t i f i c a t e s . certificates. United States notes. Month. Receipts. 1887—Januarv ' February March April May . June $11, 808, 000 13,112,000 14, 212, 000 11, 656, 000 . . . . . 10,900,000 11, 840, 000 P e r cent. 0.9 ' 0.4 0.8 Ll LO 1.3 P e r cent. 0.4 0.2 0.3 0,3 0.4 0.3 P e r cent. 67,8 74,2 74.5 71.6 72.4 72.6 Per cent 16.2 10.1 11.4 13.4 14,1 12.0 Per cent 14. 15.1 13.0 13.6 12.1 13,8 Total 73,428, OCO 0.9 0,3 72,3 12.8 13.7 July.... August September October . . November December 12, 714, 000 16, 612, 000 13, 833, 000 12, 392, 000 10,187, 000 9, 789, 000 1.4 0.8 Ll 1.2 L2 Ll 0,4 0.2 • 0,2 0,3 0.6 0.4 76,2 79,9 79,9 78.1 76.4 74.8 10.4 8.8 8.4 9.1 10.8 ILO 11.6 10.3 10,4 11.3 12.1 12.7 .. Total 74, 527, 000 1.1 0.3 77.7 9.6 1L3 1888—January February March April May : June 13, 609, 000 13,150, 000 11, 059, 000 11,176, 000 9, 990, 000 10, 996, 484 0.7 0.6 0.6 0,7 0.9 0.7 0,3 0,2 0.4 0,3 0,4 0.3 77.6 75.8 78.7 73.1 69.6 73.6 ILO 10.3 9.2 12,5 16.1 .14.4 10.4 13.1 ILl 13.4 13.0 ILl Total 69,880, 484 0.7 0.3 74. 9 12.1 12.0 14,163, 486 13, 860, 960 12,138, 688 0,4 0.5 0,4 0.2 0.1 0.2 83.0 87.6 89.1 8.3 6.5 4,4 8.1 6.3 5,9 July August September No. 51.—SHIPMENTS OF S I L V E R C O I N FROM T R E A S U R Y O F F I C E S A N D M I N T S FROM J U L Y 1,1885, TO J U N E 30,1888, I N C L U S I V E , AS P E R T H E I R REPORTS TO THIS O F F I C E . F r o m J u l y 1, 1887, t o J u n e ' 3 0 , 1888. . Office. Standard doUars. Total San F r a n c i s c o ,— Mint, Philadelphia Mint, N e w Orleans Mint, San Francisco Total Total shinments . . . . . Total. Total. 3, 065, 492. 90 2, 069,419. 54 3, 851, 267. 55 2, 496, 089. 26 300. 00 $452, 264.24 133, 000.00 1,120, 589.42 1,093,989.70 829, 586. 02 709, 539. 71 1,447, 698. 57 914, 900. 09 735,198.25 $1,230,281.47 499, 500. 00 4, 317, 546. 77 1, 093, 989. 70 3, 895, 078. 92 2, 778, 959.25 5,298,966.12 3,410, 989.35 735, 498. 25 $1, 568, 427. 29 1, 041,493. 93 9, 558, 534.14 1, 799,156, 46 6, 895, 447.88 5, 956, 420.22 9, 720, 775.10 6,102, 541. 39 2,275,073.42 $2, 798, 708.76 1, 540, 993. 93 13, 876, 080. 91 2, 893,146.16 10, 790, 526.80 8, 735, 379.47 15, 019, 741. 22 9, 513, 530. 74 3, 010,571.67 15,824, 043.83 7, 436, 766.00 23, 260, 809. 83 44, 917, 869. 83 68,178, 679, 66 2, 539,165. 00 590, 690. 00 3,129, 855. 00 2, 905, 500. 00 6, 035,355. 00 2, 551, 349.65 8, 025, 095. 70 14, 000.00 5, 597. 75 2, 556, 947. 40 8, 025, 095. 70 14, 000. 00 6, 216, 574. 73 11, 273,495. 85 3,444, 500. 00 8, 773, 522.13 19, 298, 591. 55 3,458, 500. 00 10, 590,445. 35 5, 597.75 10, 696, 043.10 20, 934, 570.58 31, 530, 613. 68 28, 953, 654.18 8,033,053.75 36,986,707.93 68,757,940.41 105, 744, 648. 34 $778, 017. 23 366, 500.00 3,196, 957. 35 Washington Baltimore Nevv^ Y o r k Philadelphia Boston Cincinnati Chicago . . Saint Louis Ne"w O r l e a n s Fractional silver. Silver coin s h i p p e d from J u l y 1,1885, t o J u n e 30, . 1887. No. 52.—SHIPMENTS OF SILVER COIN SINCE J ONE 30, 1885, FROM T R E A S U R Y O F F I C E S AND M I N T S , T H E C H A R G E S T H E R E O N F O R TRANSPOR- TATION, AND THE A V E R A G E COST P E R $1,000. F r o m T r e a s u r y offices e a s t of t h e Rocky Mountains. Period. Amount s h i p p e d for which bills h a v e b e e n rendered. F i s c a l y e a r 1886. $21, 805,109, 81 1886—July August.. September October..November December 1887—January . . . JFebruary. March April May June 2, 332, 976, 30 2, 684, 976,84 3, 229, 473, 21 2, 675, 041, 04 2, 036, 553. 54 1,786, 970.52 754.54 489. 40 361.10 099. 41 583, 77 2, 036, 481, 35 F i s c a l y e a r 1887. 23,112, 760. 02 1887—July August... September October.-. November December. 1888—January .. February. March April May June F i s c a l y e a r 1888 Charges thereon. ', 774, 76 Average charge per $1,000. $1.36 F r o m sub-treasury at San Francisco. F r o m inints. Amount shipped. Charges thereon. AverA m o u n t of age shipment c h a r g e a s p e r bills per rendered. $1,000. $10, 960, 927, 76 $33, 537, 58 $3.06 $795,000.00 Total. Charges thereon. Average charge per $1,000. Amount shipped. $4, 508, 65 $5.67 $33,561, 037. 67 5,54 4,79 6.69 5.86 5.89 6.28 7.72 6.26 6.24 6,70 5,55 6,66 3,100, 172, 25 4, 008, 466. 94 5, 027, 461. 71 4, 793, 537. 34 3,490, 047.44 3, 105, 468.12 1,254, 750. 59 1, 459, 486. 65 2, 243, 858, 60 1, 855, 595. 66 2,160, 080. 92 2, 707, 977. 62 5, 818, 45 6, 502. 55 8, 873,17 8, 490. 56 6, 510. 36 5,149.18 2. 684. 44 2,459. 61 3, 767, 85 3, 435. 39 3, 483,44 6, 278, 38 Charges thereon. Average charge per $1,000. $2.02 ~i788 26 77 07 21 31 97 97 29 80 27 77 27 LSO L24 L41 L52 1,53 L35 LSS L27 L24 L41 L23 1.34 713, 195. 95 1, 353,490.10 1, 584,488. 50 1, 876,496. SO 1, 205,493. 90 1,129, 497, 60 256, 996. 05 320, 497,25 406, 997. 60 339, 996. 25 398, 497.15 388, 996. 27 2,488,14 2, 951, 08 3, 092,10 2, 995, 35 1, 930.16 1, 547. 56 406, 42 432. 87 534. 96 486, 32 527.97 663.46 3.49 2.18 1.95 L59 L60 1,37 L69 1.35 LSI L43 1.32 1.70 64, 000, 00 70, OCO, 00 213, 500. 00 242, 000. 00 248. OOO. 00 189, 000. 00 132, 000. 00 115, 500. 00 189, 500, 00 188, 500. 00 186, 000. 00 282, 500, 00 299, 06 335. 70 1, 2-15, CO ],418. 00 1, 459, 90 1,187. 65 1,019.06 723. 45 1,184.10 1, 074, 80 1, 033, 70 1, 880, 65 31, 466. 96 1.36 9,973,642,82 18, 065, 37 L81 2,110, 500. 00 12, 831. 05 6.08 35,196, 902. 84 62, 353. 38 L77 1,861,65 2, 483, 00 2, 376.10 2, 020, 65 1, 479. 90 i, 759. 20 1,152,10 879, 50 1, 612. 70 1, 232. 85 1, 342, 05 1, 826, 85 5,86 6,27 e,52 6,98 6.61 6.17 6.77 6.12 6.06 5,62 6,41 6,64 2, 647, 822,19 3, 923, 618.84 6, 077, 499. 68 5, 341, 551. 57 4, 417, 946.09 3, 451, 003. 96 1, 373,121. 64 1, 577, 844. 30 1, 988, 288.96 1, 882, 381.86 1, 950, 824, 27 2, 364, 804. 67 5, 897, 06 8, 304. 82 l i , 524,10 9, 588. 24 7,607, 42 6,408. 50 2, 603, 59 2, 687, 28 3, 804, 67 3, 351.13 3,70L32 4, 579. 65 2,23 2.12 L89 L79 L72 L86 L90 1.70 L91 L78 L90 L94 6,37 36, 986, 707.93 70, 057. 68 3, 031, 3, 216, 4, 566. 4, 077. 3,120, 2, 413, 1,158 1, SOS, 2, .048, 1, 876, 1, 921. 2, 734. 1, 945,583, 99 2, 694,881.69 3, 633,255. 63 2, 916,164, 47 2. 403,198. 69 2, 032,238, 31 863, 134, 64 1,117, 640, 05 1, 339,171. 71 1, 313,247. 26 1, 387,103.62 1, 715,189. 77 3,355.22 4, OIL 85 5, 660. 53 4, 637. 69 3, 425. 57 3, 048.15 1, 005. 66 1,384.12 1, 806. 69 1,700,91 1, 879. 04 2, 255, 44 1.73 1.49 L60 1,56 L42 L50 LIO L24 1.25 1,29 1.35 1.31 384, 998.20 832, 997.16 2,179, 993. 95 2,136, 087,10 1, 787,497, 40 1,149, 995, 65 339, 997, 00 316, 494. 25 399, 197, 25 349, 994, 60 354, 395. 65 364, 494. 90 23, 260, 809, 83 34, 070. 67 L46 10, 596, 043.10 680.19 809, 97 487, 47 029. 90 701, 95 601,15 445. 93 423, 66 485. 38 417. 37 480. 23 497.26 1.77 2.17 1.60 1.41 1.51 LSO LSI LSS L21 1.19 L35 LSO 16,060.46 1.51 1, 3, 3, 2, 1, 317, 240. 00 395, 740. 00 364, 250. 00 289,400. 00 227,260. 00 268, 770. 00 169, 990. 00 14S, 710. 00 249, 920. CO 219,140. 00 209, 325: 00 275,120. 00 3,129, 855.00 19, 926, 55 1.62 1.76 L77 1.86 L66 2.06 L68 L68 1.85 L62 L96 oo O 81 TREASURER. No. 5 3 . — U N I T E D STATES N O T E S I N T H E T R E A S U R Y AND CERTIFICATES OF D E POSIT, ACT OF J U N E '8, 1872, I N T H E TREASURY AND I N CIRCULATION, AT T H E •. E N D OF E A C H M O N T H , FROM M A R C H , 1878, TO S E P T E M B E R , 1888. Total United States notes in Treasury. Month. 1878—March April May June.. July - - : August September October N ovember December 1879-January Febniary March.. April M:ay June July August September October November Deceruber 1880—January Feliruary March April May June..-. July August September October November December 1881—January ' February March 3. April May June July August September October. Noveraber ° December 1882-^January February March . A.pril ' May June July August. -. September October November December . 1883—January Feljrua'ry March April ]^ay ' June July August ; September October November Deceniber 1884—January February March April May ' .\., , • , , , , , H. Ex. 2-—6 327, 341, 75 521, 372,12 695, 892. 66 020, 120. 73 105, 859.19 348, 254, 36 049, 3:i9. 67 175, 605. 84 655, 404.16 582, 505. 38 463, 706. 94 650, 231, 65 370. 677. 54 998, 485.16 142, 335.67 015, 969. 62 791,465.73 597, 606, 37 173, 254,41 522, 567. 20 973, 454. 09 660, 493. 88 299, 562.45 149, 093,12 080, 080, 79 474, 279, 79 833, 019, 97 020, 559,11 099,123, 52 649, 849, 33 148,612,89 418,99-2,71 574, 937, 36 741,818.06 181, 616, 35 206, 600. 52 338.197.63 927, 086, 33 922, 304, 87 204, 092,45 624, 909,88 320,869,01 130,132, 07 281,768.66 401, 078.19 992. 799. 99 714, 394. 46 701. 850.17 371,415.21 627, 824. 31 938,690,18 670, 589. 08 999, 589. 86 883, 940.'65 948,358,4.1 689,196,17 591, 392, 21 454, 394. 86 592, 236. 55 744, 817. 28 878, 561. 26 969, 623. 27 471, 824, 57 498, 839, 42 (iS2, 646, 03 791,765.88 194,420, 01 113,037.33' 874, 644. 35 644, 248.72 156,188. 89 808, 632. 26 904, 652, 22 765, 833.28 731, 840. 75 Certificates of deposit in Treasury. $2, 810, 000 920,000 235; 000 570, 000 460, 000 1, 460, 000 1, 345. 000 180, 000 2,120, 000 1,510,000 755, 000 9, 425, 000 2, 580, 000 1,140, 000 1,155, 000 1, 450, 000 590, 000 960, 000 1, 975, 000 2, 315, OOO 685, 000 425,000 215, 000 670, 000 .175, 000 175,000 600, 000 360,000 590, 000 105, 000 90, 000 150, 000 75, 000 25,000 325, 000 240, 000 40, OOO 275, 000 215, 000 175, 000 210, 000 35, 000 55, OCO 50, 000 70, 000 105, 000 215,000 125, 000 265, 000 75, 000 510, 000 185, 000 130, 000 110,000 10, 000 10, 000 60, 000 210, 000 250, 000 55, 000 15, 000 315, 000 25, OOO 90, 000 75, 000 75, 000 100, 000 80, 000 45, 000 90, 000 520, 000 105, 000 20, 000 Certificates of deposit in circulation. Net United States notes in Treasury. $22, 585, 000 $24, 742, 341.75 27, 835, 000 21, 686. 372. 32 36, 955, 000 19, 740, 892. 66 46, 245, 000 15, 775, 120. 73 51,120, 000 15, 985, 859.19 47,815,000 20, 533, 254.36 39, 545, 000 23. 504, 339. 67 36, 660, 000 28^ 515, 605. 84 35,070,000 28, 585. 404.16 33,190, OUO 26, 392^ 505. 38 40, 445, 000 22,018, 700. 94 36, 675, 000 35. 975. 233.65 25,145, 000 42, 225, 677. 54 30, 905, 000 31, 093, 485.16 25, 880, 000 43, 262, 335. 67 29,355,000 36, 660, 969, 62 40, 250, 000 23, 541, 465.73 34, 375, COO 36. 222, 606. 37 29. 240, 000 18, 933. 254, 41 20,195, 000 17, 327, 567.20 13, 585, 000 16, 388, 454.09 12, 570, 493.88 10, 090, 000 11, 614, 562. 45] 2, 685, 000 11, 095, 000 15, 054, 093.12 8,320.000 35,760, 080, 79 8, 985, 000 17, 489, 279, 79 12,050, 000 18,183, 019. 97 14, 235, 000 18, 785, 559,11 35,075,000 39.024, 123, 62 11, 205, 000 20, 444. 849, 33 9, 885, 000 17, 263, 612,89 8, 625, 000 33.793, 992, 71 8, 460, 000 11,124, 937.36 6, 980,000 8, 761, 818, 06 8,. 630, 000 10, 551, 616.35 7, 640, 000 14, 566, 600, 52 6. 565, 000 14, 773, 197. 63, 8, 255, 000 14, 672, 086. 33 10, 860, 000 16, 062, 304.87 1,1, 650, 000 18, 554, 092, 45 10, 525, 000 39,099, 909, 88 39, 870, 869.01 9, 450, 000 39,025, 132,07 8.105, 000 8. 275, 000 18, 006, 768, 66 17,411, 078,19 8, 990, 000 9, 540, 000 • 36,452, 799. 99 11,330,000 17, 384, 394, 46 11,445,000 18,256, 850.17 10, 925, 000 17. 446, 415. 21 ] 0, 990, 000 17, 637, 824,31 12. 065, 000 19, 873, 690.18 3 3,245,000 21, 425, 589.08 12, 220, 000 22, 749, 589.86 11,835,000 24, 068, 940,-65 10,540,000 21, 408, 158.41 9, 835, 000 19, 864, 196.17 9, 835, 000 20, 756, 392, 21 9, 575, 000 18, 879, 394, 86 12, 430, 000 21,162, 236, 65 li; 130,000 2L614, 817.28 9, 465, 000 20, 413, 56L 26 10, 050, 000 20, 919, 623, 27 11, 790, 000 21, 681, 824,57 13,060,000 23, 438, 839,42 12, 885, 000 24, 747, 646, 03 12, 055, COO 25, 736, 765, 88 25, 324, 420, 01 11, 870, 000 12, 545, 000 24, 568, 037, S3 14, 365, GOO 25, 509, 644, 35 14, 480, 000 25,164, 248, 72 16,835, 000 25, 321, 188.89 18,125, 000 27, 683, 632, 26 14, 956, 000 30, 949, 652. 22 14, 920, 000 30, 845, 833, 28 11, 030, 000 27, 701, 840. 75 82' No. R E P O R T ON T H E FINANCES. 5 3 . — U N I T E D STATES N O T E S I N THE T R E A S U R Y AND C E R T I F I C A T E S OF D E P O S I T , ACT OF J U L Y 8, 1872, ETC.—Continned. Month. 1884—June... July , August September October '. November December 1885—January February March April ' May June July August September October November December 1886—January February March...' April May Juue July August Septeraber October November December 1887—January February March April ]M a y June July August September October November December 1888—January . . . . . . February March April May June July August September...; TotalUnited S t a t e s n o t e s in Treasury. $40,183, 801. 75 42, 727. 989. 53 40, 843, 553, 52 36, 524, 872,86 33, 942, 171, 85 32, 200, 683. 43 36, 499, •575,42 43, 958, 468, 83 48, 926, 821. 53 46, 683, 288. 39 46, 865, 690. 08 50, 417, 109.35 45, 047, 378. 94 48, 418, 996. 74 55, 058. 656, 00 51,129, 332. 35 45, 695, 341,31 43, 290, 612. 91 41,731 200,31 47. 890, 388, 92 47,197, 291.92 42, 214, 484, 54 37, 603, 774. 09 • 40, 241, 098. 33 4L138, 316. 79 41,044, 142.-44 46, 774, 647. 22 44, 224, 080,83 38,107, 305. 27 36, 673, 188. 34 29. 679, 325, 78 33, 003, 681. 60 33, 869, 201.91 28, 294, 937. 58 28, 575. 473, 87 30, 757, 376. 30 28, 783, 796, 79 28, 093, 739, 92 28, 287, 638. 90 24,145, 212,17 22, 476, 066. 74 23,153, 220. 39 22, 409, 424, 94 28, 660, 468, 63 33, 482, 086. 72 33, 085, 622, 59 39, 046, 614. 30 46,158, 199. 81 52, 398, 204, 07 .56, 030, 739. 84 56, 225, 392. 78 63, 358, 963, 25 Certificates of d e p o s i t in Treasury. $195, 000 65, 000 150, 000 315, 000 85, 000 120, 000 360,000 45, COO 380, 000 1, 00.5, 000 50, 000 315, 000 200, 000 260, 000 695 000 695, 000 410, 000 210, 000 265, 000 260, 000 385, 000 840, 000 225, 000 585, 000 250,000 470, 000 1, 510, COO 150, 000 20, ono 280, 000 200, COO 100, 000 250, 000 410, 000 160, 000 410,000 310, 000 350, 000 420, 000 350, 000 170, 000 320, 000 130, 000 280, 000 440, 000 650, 000 ' 100,000 470, 000 250, 000 100, 000 90, 000 580, 000 Certificates of d e p o s i t in circulation. Net United •States n o t e s i n Treasury. $12,190,000 $27, 993,801.75 13,16.5, 000 29, 562,989.53 14, 270, 000 26, 573,553.62 15, 630, 000 20, 894,872, 86 17, 770, 000 16,172, 171,85 22, 575, 000 9, 625,683,43 24, 760, 000 11, 739,575: 42 30, 085, 000 13. 873,468, 83 30, 200, 000 18, 726,821.53 26,210,000 20, 473,288. 39 2.5, 400, 000 21,465, 690, 08 26, 925, 000 23, 492,109,35 29, 585, 000 1.5, 462,378, 94 31,420,000 36 998, 996. 74 30, 86.5, COO 24,79.3, 656. 00 23,18>, 000 27, 944,332. 35 IS, 145, 000 27, 550,341, 31 17, 555, 000 25, 735,612, 91 13, 790, 000 27,941, 200.11 34,590,000 S3, 300,388, 92 14, 920, 000 32. 277,291.92 11,925,000 30,2-9, 484. 64 11, 515, 000 26, 088,"774. 09 13, 955, 000 26, 289,098 33 18, 250, 000 22, 868.316.79 39,105,000 21.939, 142, 44 I L 195, 000 35, 579,647, 22 7, 705, 000 36,519, 080. ^3 7,140, 000 30, 967,305. 27 7, 025, 000 29, 548,188. 34 6, 510, 000 23,169, 325.78 8, 720, 000 24, 283,683.60 8, ISO, 000 25, 689,201,91 7,135, 000 21,159, 937. 58 8,350,000 20, 225,473. 87 8,990,000 21, 767,376. 30 8, 770, 000 20,013, 798.79 '8, 460, 000 19, 633,739, 92 7,130, 000 21,157, 538, 90 6, 535, 000 17, 610,212.17 7, 215, 000 15, 261,066. 74 6, 835, 000 16, 318,220. 39 6,985, 000 15, 424,424, 94 10, 645, 000 18, 015,468, 63 11, 21.5, COO 22, 267.086. 72 ' 8, 915, 000 24, 170,622, 69 10,565,000 28,491, 614. 30 12, 230, 000 33, 928, 199.81 34, 416, 000 37, 983,204. 07 15, 205, 000 39, 825,739, 84 14. 645, 000 41, 580,392, 78 12, 730, OlO 40, 628,963. 25 83 TREASURER, 1^0. 54.—AMOUNT OF GOLD C O I N AND B U L L I O N I N T H E T R E A S U R Y , AND OF G O L D C E R T I F I C A T E S OUTSTANDING, AT T H E E N D OF EACH MONTH, F R O M M A R C H , 1878, TO S E P T E M B E R , 1888. Month. 1878—March April May Juiiie July August September. October — November . December . ,1879—January . . , F e b r u a r y .. March ..... April May June July....... August Septeraber, October .., Noveraber December. .5880—January ... F e b r u a r y ., March . . . . April .. Miay Juue July August... Septeraber, October Noveraber December. (1881—January .., F e b r u a r y .. Maich April , M ay June July August... September October November December <1882—January . . February . March April May June .., July August... September October ' November December 1 8 8 3 — J a n u a r y ... February.. M:arch ; April May June.. July August September October . . November December a 8 8 4 — J a n u a r y ... February. March. April May T o t a l gold Gold certificates in T r e a s u r y , coin in t h e T r e a s u r y cash. and bullion. $120, 106, 317.17 120, 032, 781.64 122, 917, 907.88 328, 460, 202.87 132, 014, 619,41 334, 548, 036. 53 136, 030, 302. 20 140, 872, 154, 79 142, 400, 135. 29 335, 382, 639.42 133, 756, 906. 65 133, 265, 559.43 133, 416, 125. 85 334, 520, 140. 48 136, 680, 260, 34 135. 236, 474. 62 135, 517, 483. 26 141 546, 390, 52 169, 606, 995. 03 173 ol7, 713. 65 160, 443, 436.80 357, 790, SJ3,84 153, 6f30, 026,43 146, 750, 758. 04 144, 010, 551.50 338, 783, 440. 08 128, 709, 496. 61 326: 345, 427, 20 323, 126, 646, .54 127: 679, 279. 45 135, 244, 833.65 140, 725, 952, 74 151 362, 519, 38 356, 742, 095, 77 154, 544, 209.15 173, 038, 253. 01 173, 668, 163. 08 370, 319, 754, 63 163, 770, 358.17 163, 17L 661, 25 154, 911, 475. 21 169, 495, 521,94 374, 361, 344. 52 172, 989, 829.17 178, 225, 303,41 172, 617, 467, 38 165, 152, 788,62 173, 757, 874. 07 166, 457, 356. 93 355, 069, 102.18 153, 985, 545. 28 148, 506, 389. 95 345, 079, 030. 31 149, 303, 920, 69 152, 739, 106.43 159, 805, 743.54 164, 267, 584, 64 171 504, 568, 39 173, 317, 834, 35 177, 661, 630.86 184, 752, 713. 90 187, 837, 441.93 193, 310, 043. 00 198, 078, 567. 68 202, 774, 035.16 204, 172, 975.33 206, 130, 543.10 209, 429, 939. 90 236, 133, 327. 54 239, 014, 739.63 221, 813, 356.49 221 881, 633.11 211 071. 506.97 396, 325, 62.5.72 201 132, 388.01 $7,179, 200 9, 032, 660 31,235,300 19,469,320 18,170, 420 20, 794, 220 9, 392, 920 9,901,520 9, 84.5,120 391,420 544, 020 400, 220 50, 740 ' 62,140 33, 580 133, 880 43,800 120,000 67, 700 213,400 183, 740 740, 960 61,100 327, 300 611, 500 173, 800 . 39, 800 40, 700 32, 600 36, 800 S L 600 .6, SOO 19.320 ISO; 500 60, 080 312, 080 142, 900 1,400 36, 320 23, 400 1,700 . 3,800 9.600 3, 700 8,300 7,900 15, 800 3,000 2, 500 8,100 1.500 14. 990,170 15, 950, 270 25,105, 030 26,107, 300 32, 296, 270 31, 525, 210 32, 935,420 23, 869, COO 22. 571, 270 23, 383, 440 28, 445, 200 27, 480, 300 31, 252, 760 27, 035, 300 27, 446, 780 23, 788, 000 30, 600, 070 35,424, 250 44, 415, 395 39, 686, 780 Gold certific a t e s in circulation. . $50,', 704, 200 45,, 948, 840 21., 246, 300 24,-, 897, 680 23,I, 852, 980 17,, 222, 380 23,, 433, 680 22,;, 906,480 24,:, 117, 780 21,, 189, 280 17,\ 082, 680 16,i, 379, 280 16,1, 253, 960 15,i, 710, 460 15,>, 380,120 35,I, 279, 820 15,i, 196, 900 15,., 008, 700 14, 843, 200 14,, 377, 600 13,:, 195, 460 11,., 596,140 10,1, 350, 000 9,I, 755, 300 8 , 244, OOO ,, 056, 800 8, ;, 010, SCO 8, 7,•, 963,.900 7.,852,000 ',661,300 7, 7,,480,300 7,',447,700 7,•, 381, 380 i, 528,380. 6, ;, 491,400 6, 6,i, 229, 400 i, 028, 900 6, ., 961, 200 5, 5,, 876, 280 -, 759, 520 5, •', 748,120 6, 5,, 397,120 5,, 239, 320 5,., 204, 220 5,', 199, 620 5,,188,120 i, 180, 220 5, 5,. 172, 320 ;, 166, 920 071,120 -, 062, 920 ', 029, 020 ,016,440 , 992, 040 , 907,440 ,370,270 I, 458, 270 ', 514, 810 , 669, 640 I, 554, 470 , 444, 510 I, 398, 200 I, 591, 940 I, 807, 370 I, 068, 600 , 547, 540 S 014, 940 !, 076,180 1, 897, 620 ;, 585,140 , 462, 620 ', 843,430 !, 812,150 1, 700, 805 1,125,480 N e t gold in T r e a s u r y , coin a n d bullion. $69,402, 117.17 74, 003,941, 64 101,671, 607. 88 103, 562,522.87 108,161, 639.41 117, 325,856.53 112, 602,622.20 117, 965,674. 79 118,282, 355. 29 114, im,359. 42 116, 674,226, 65 •116,886, 279. 43 117,162, 166. 85 118,809, 680.48 121, 300,140.14 119,956, 654. 62 120, 320,583,25 3 26, 537,690.52 154, 763,795. 03 157,140, 133.65 147, 247,976. 80 146,194, 181. 84 343, 340,026,43 336, 995,458. 04 13.5, 766,651. 50 130, 726,640. 08 120, 699,196. 51 118,181, 527,20 115, 274,646. 54 120, 018,179,45 127,764, 733. 65 133, 278,252, 74 143,981. 339.38 350.213, 715. 77 148, 052,809.15 166, 808.853.01 167, 639,263, 08 364, 3.58,554.53 1.57,893, 878,17 157, 412,141, 25 149,163, 355. 21 164,-098,401,94 189, 122,024. 52 167, 785,609.17 173, 025,683. 41 167, 429,347. 38 159, 972,568, 62 168, 585,554. 07 361, 290,436. 93 149.997, 982.38 148, 932,625. 28 143,477, 369.95 140, 062,590, 31 144, 311,880. 69 147, 831,666.43 148, 435,473.54 144, 809,314. 64 131, 989,758. 39 125, 648,194.35 135,107, 160.86 141, 308,203.90 139, 439,241. 93 133,718, 103. CO 138, 271,197.68 142, 705,435.16 149, 62.5,435. S3 151,115, 603.10 157, 353, 759.90 • 157, 235, 707.54 165,429,599. 63 144, 350, 736.49 144, 038, 203.11 142, 259, 356.97 139, 624,820.72 • 142, 006, 908.01 84 No. R E P O R T ON T H E FINANCES. 54.—AMOUNT OF GOLD C O I N AND B U L L I O N I N T H E T R E A S U R Y , AND OF GOLD- CERTIFICATES OUTSTANDING, ETC.—Contiuued. Month. 1884—June.. July August — September. October — November . December . 1885—January . . . February.. I March April May June July August- — September. October:... November , December.. 1886—January ., F e b r u a r y ., March ' April • May June Jiily A u g u s t . -. September October... November December. J 887—January . . February . March . April May June July A u g u s t -. September ' October... November December. 1888—January .. •February.. March April , May June. July.....: August — • September T o t a l gold i n T r e a s u r y , coin and bullion. $204, 876, 594,15 210, 539, 550. 98 214, 483, 657.17 217, 904, 042. 81 222, 536, 360.43 23li 389, 360. 85 234, 975, 851.95 237, 167, 976. 84 240, 029, 843. 24 241, 440, 796, 37 243, 162, 194. 81 244, 363, 543. 59 247, 028, 625, 25 249, 367, 595, 20 250, 257, 417. 89 251, 251, 114, 54 . 251, 359, 349. 29 251, 945, 578.13 253, 361, 409.48 251, 371, 561. 58 . 249, 801, 087. 53 2^2, 155, 167. 40 • 240,580, 532. 67 236, 424, 734.21 232, 838, 323. 91 233, 651, 522.45 235, 430, 635.24 242, 609, 018.37 246, 832, 148.40 254, 450, 853, 67 268, 128, 018,47 274, 140, 468. 86 275, 088, 626. 45 275, 985, 862.15 275, 336, 916. 90 277, 628, 750, 47 278, 101, 106, 26 281, 296, 417.45 282, 039, 533. 67 290, 702, 629. 70 302, 544, 605.45 302, 661, 278.68 305, 342, 187. 07 307, 809, 156, 27 309, 567, 826, 88 330, 772, 202. 63 312, 801, 287.15 309, 882, 858, 81 313, 753, 616.89 326, 551, 392, 34 331, 133, 430. 44 332, 551, 306. 52 Gold certificates in t h e Treasu r y cash. $27, 246, 020 26, 525, 830 29, 70L 980 3.3, 546, 960 32, 477, 750 26,703,060 26, 343, 730 22, 299,'3 50 40, 426. 930 37, 689, 990 28, 625, 290 14, 371, 350 13,593,430 17, 322, 320 16, 606, 230 22, 249, 240 31, 115, 850 34,492, 968 34,350,479 24, 060,709 33,671,010 46, 797, 927 52,396,876 61, 735, 670 55,329,870 52, 258, 360 48,693,980 40, 654, 320 36, 878, 458 34, 469, 694 27, 486,804 18, 843, 632 24, 256, 230 29, 757, 610 28, 905, 040 32,101, 3.58 30, 261, 380 18, 098, 560 23, C08-, 207 29,154,288 32, 858,158 39, 974, 838 31,010, 394 20, 6G8, 210 26, 962,168 29, 651, 464 20, 863, 500 33, 574,110 22,135, 780 30, 234, 688 36,591,3.56 25, 516, 410 Gold certific a t e s in circulation. $71,146, 640 91,491,490 . 92, 017, 940 87, 389. 660 87, 865, 570 as, 374. 290 93, 287. 420 111, 980, 380 112,683,290 115j 967, 540 125, 234, 800 128, 553, 010 326,729,730 123, 289, 000 323,885,490 118,137,790 109. 020, 760 105, 554, 092 105, 359, 601 116,284,951 105, 637, 050 90, 775, 643 84, 715, 226 80,320, 025 76, 044,375 74,738,517 77,698,347 84,691,807 88, 294, 969 90, 520, 633 97, 215, 605 105, 665,107 99, 958, 365 94,046,015 94, 434, 485 90, 960, 977 91, 225, 437 94, 990, 087 88, 765, 340 97, 984. 683 99, 684, 773 90,780, 7.53 96, 734, 057 104, 853, 971 96,697,913 91,953,949 b9, 561, 293 109,581,730 119, 887, 370 131, 9.59,112 124, 750, 394 134, 838,190 N e t gold i n T r e a s u r y , coin and bullion. $133, 729, 954.15 119,048, 060.98 122, 465, 717.17 130, .514, 382. 81 134, 670, 790.43 138, 015, 070. 85. 141, 688, 431. 95 125,187, 595. 84 127, 346, 553, 24 325,473, 256,37 . 117,927, 394,81 ' 335,810, 533, 5^ 120, 298, 895, 25^ 126, 078, 595,20. 126, 371, 927. 89 133,113, 324. 54 342, 338, 589.29146, 391', 486.13 147, 991, 808.48 336,086, 610. 5 8 144,164, 037. 53 151, 379, 524, 40 365,865, 307. 67 156,'304, 709, 2 1 156, 793, 748. 91 158, 933 005.45' 157, 732, 288.24157, 937, 211.37 158, 537, 179. 40 • 163, 930, 220.57 170, 912, 413.47 ' 168, 475, 361. 85175,330, 261.45 183,939, 847.15180, 902, 430.90 386,667, 773, 47 186, 875, 669,26. 186, 306,''330.45 193, 274, 193. 67 192. 717, 946, 70 202, 859, 832.45 211, 880, 525. 68 208, 608, 130. or 202, 955, 184. 27 212, 869, 933. 88 218, 818, 253. 63 213,239, 994,15 200,301, 128.81 393,866, 246. 89 194, 692, 280. 34 206, 383, 036.44 197, 713, 115. 52- 85 TREASURER. 1^0. 55i—AMOUNT OF STANDARD S I L V E R DOLLARS- COINED, I N THE TREASURY,, AND I N CIRCULATION, AND OF S I L V E R CERTIFICATES OUTSTANDING, AT T H E E N D OF EACH MONTH FROM MARCH, 1878, TO S E P T E M B E R , 1888. Month, Silver Silver Standard Standard certificates s i l v e r d o l l a i s silver dollars certificates in t h e T r e a s in t h e in circulacoined. u r y cash. Treasury. tion. 1878—March $1,001,500 1810,561 April $63.'ooo' 3, 471, 500 3,169, 681 May . . . 6, 486, 500 27, 330 $3i4,'7l6" 5, 950, 45i June......... 8. 573, 500 7, 718, 357 3,4.55,520 7,080 10, 420, 500 2, 647, 940 9, .550, 2.36 July .' . August... . 33,448,500 4, 424, 600 " i , * 709,'280 n , 292,849 • September . 16,232,500 12,155,205 3,316,470 7 n , 600 October... . 38,282, .500 33,397,571 2, 639, 5f;0 68, 790 November.. 20, 438, 550 34. 843, 219 1, 907, 460 366, 060 December .. 22,405,550 36,704,829 2, 082, 770 413,360 tl879—January 24, 555, 750 37, 874, 457 2,170, 840 400, 340 February. . 26,687.750 19, 505, 767 1,976,320 . 331,860 M a r c h :'. 28, 774, 950 21, 558, 894 2, 074, 830 251,700 :Apnl 31,355,9.50 23, 694, 563 1, 779, 340 197.680 May S3, 485, 9.50 26,181, 045 1. 922, 820 444,140 June 35, 801, ,000 28,147, 351 2, 052, 470 414,480 July . 37,451,000 29,151,801 2,014,680 771, 170 August... . 40, 238, 050 30, 678,464 1, 976, 960 1,304,890 Septeniber . 42, 634,100 31,5.59.870 3,045,3.30 1,176,720 October... . 45, 206, 200 32,322,634 4,531,479 1, 604. 371 November .. 47, 706, 200 32, 839, 207 5,173.3 88 3,894,722 December .. 50, 055, 650 33,168, 064 4, 888, 658 3, 824, 252 fl 8 8 0 — J a n u a r y . . . . 52, 505, 650 34,961,611 5, 063, 450 3,989,454 February ... 54, 8 )6„050 36, 972, 093 4,'797,3144, 572, 606 M a i c h ..* ,57, 156,2.50 38, 780, 342 6,611.914 6,017,006" April 59, 450, 250 40, 4Ix, 673 6, 428, 3.54 6,615,366 May 61,72.3,250 42, 778,190 6, 322, 731 6, 051, 639 June • C:{, 734, 7.50 44,425,315 6, 584, 701 6. 789, 569 July 66, 014, 7.50 46,192,791 • 6, 758, 331 6, 930, 959 August... . 68, 267, 7.50 47, 495, 063 5, 518, 821 7, 619, 219 September.. 70, 508, 7.50 47, 6.M, 675 6, 318, 769 32, 203,191 October... . 72, 847, 7.50 7,333,719 19,780,241 47, 084, 450 November . 75,147,750 47, 397, 4.53 • 8,572,294 23, 504, 986 Deceraber . 77, 453, 005 48,3 90, .518 9, 4.54, 419 36, 127,711 '1881—January 60,235,102 9, 985, 583 36, 814, 637 79, 753, 005 February... 82, 060, 005 • .52,939,460 10, 856, 463 37,027,797 March.... . 84, 359, 506 5.5,176,158 10, 733, 085 39,445,815 86, 6.59, .505 58, 044, 826 31, .522, 208 39,1.57, 932 ^P'il May : 88, 959, 505 60, 518, 273 11,988,710 38,784,540 Juiie 91, 372, 705 62, .544, 722 12. 055, 801 39,110,729 July 93, 622, 705 64, 246, 302 11,181,088 40, 802, 892 August 9.5,922,705 65, 948, 344 11, 516, 432 40, 061, 878 Ser>teraber . 98, 322, 705 66, 092, 667 31,559,730 52, .590,180 October 1.00, 672, 705 C6,576, 378 7, 488, 900 58, 838, 770 N o v e r a b e r . 302,972,705 C8. 017, 4.52 7, 089, 880 59, 573, 950 D e c e r a b e r . 105, 380, 980 69, 589, 937 6, 359, 910 02,335,320 1882—January 107, 680,980 72,421,584 7, 462,130 61,537,540 F e b r u a r y . . 109, 981,180 ' 75,138, 957 8, 549, 470 60,125,010 Ma.rch ^ 112, 283, 680 78. 178, 583 . 8,'931, 930 59, 423, 440 April 334,581,660 «1, 695, 056 8, 872, 790 58, 908, .570 May 116,843,680 84, 606, 043 30,509,360 57, 227, 060 June 119,144,780 ' 87, 153,816 11, 590, 620 54, .506, 090 July 121,304,780 88, 840, 890 12, 36L 490 64, 757, 720 A u g u s t . . . . • 123,729,780 91,166,249 33,700,3.30 57, 739, 880 Septeraber.. 126, 029, 880 92, 228, 649 8, 364, 430 63, 204, 780 October 128, 829, 880 92, 414, 977 7, 987, 260 65, 620, 450 N o v e m b e r . . 130, 629, 880 92, 940, 582 5, 752, 970 67, 342, 690. D e c e m b e r . . 332, 955, 080 04, 016. 842 4,405,000 68, 443, 660 '1883—Januaiy 135, 405, C8i) 97, 530, 969 4,306;-6.=i0 68, 438, 820 February... 137, 805, 080 300,261,444 5, 268, 550 68, 027, 420 March 140, 205, 609 303, 482, 305 6, 865, 340 70,759,991 April 142, 555, 699 300, 366, .348 8, 887, 260 71,884,071 May 144, 905, m 9 308,898,977 8, 305. 940 71, 727, 391 June 147, 255, 899 131,914,019 1.5,996,145 72, 620, 686 July 113,057,052 36,542,730 73, 728, 681 349, 680, 899 August 3.52, 020, 899 114,320,397 37,276,820 75. 375,161 S e p t e r a b e r . . 354,370,890 114, 587, 372 15, 568, 280 78, 921, 961 October 156, 720, 949 3 36, 0:i6, 4.50 34,214,760 85,334,381 N o v e r a b e r .. 3 59,070,949 317, 768, 966 13,806,610 87, 976, 201 D e c e r a b e r . . 161.425,119 119, 449, 385 13, 180, 890 96, 717, 721 • Net standard s i l v e r dollars . S t a n d a r d i n T r e a s u r y silver d o l l a r s after in circuladeducting tion. silver certific a t e s iu circulation $810, 561 3,106,681 5, 923,121 7,711,277 9, 550, 236 9, 583, 569 31,443,605 33,328,78 14,477,359 36,291,469 17,474,117 19,173, 907 21, 307,194 23, 496, 883 25, 736, 905 27, 732, 871 28,380,631 29, 373, 574 30, 383,150 30,718,263 30, 944, 485 29,343,812 SO, 972,157 32, 399, 487 32, 763, 336 S3, 796, 307 36, 726, 651 38, 635, 746 39, 261, 832 39, 875, 844 3.5,451,484 27,304,209 20, 892, 467 12, 062, 807 13, 420, 465 15, 911, 663 15, 730, 343 18, 886, 894 21,733,733 23, 433, 993 23,443,410 19, 888, 466 13, 502, 487 7, 737, 608 8, 443, 502 7, 274, 617 10,884,044 15, 013, 947 38,755,343 22, 686, 486 27. 378, 983 32, 647, 726 34, 083,179 33,426,369 29, 023, 869 26,794,527 2.5, 597, 892 25,573,182 29, 092,149 32,234, 024 32,722,314 34,482,277 37.171,586 39, 293, 333 39,328,371 38. 945, 036 35, 66.5, 411 30, 702, 069 29,792,765 22,731,664 $190, 939 301, 819 536, 049 ft55,143 870, 264 2,155, 651 4, 057, 295 4, 884, 929 5, 595, 331 5, 790, 721 6, 681, 293 7,181,983 7, 216, 0.56 7, 461, 387 7, 304, 905 7, 653, 649 8, 299,199 9, 559, 586 11, 074, 230 32, 883, 506 34,865,993 16, 887, 586 17, 544, 039 17, 833, 957 18, 375, 908 19, 044, 577 18, 94.5, 060 19, 309, 435 19,821,959 20, 772, 687 22, 914, 075\ 26, 763, 300 27, 750, 297 29. 262, 487 29, 517, 903 29,120, 645 29,183, 347 28, 614', 679 28, 441, 232 28, 827, 983 29, 376, 403 20, 974, 361 32, 230, 038 34, 096, 327 34, 9.55, 253 35, 791, 043 35, 2.59, 396 34,842,223 34, 103, 097 32, 986, 624 32, 237, 637 31,990,964 . 32,463,881 32, 563, 531, 33, 801, 23i ^5, 914, 903 37, 689, 298 38. 938, 238 37, 874, 111 37, 543, 636 36, 723, 394 36,189,351 36, 006, 722 35,341,880 36, 623, 847 37, 700, 702 39, 783, 527 40, 684, 499 41,301:983 41, 976, 734 86 R E P O R T ON T H E FINANCES. No. 55.—AMOUNT OF STANDARD S I L V E R DOLLARS C O I N E D , ETC.—Continued. 0 Date, Standard Silver Standard silver dollars certificates silver dollars in t h e T r e a s in t h e coined. .ury c a s h . Treasury. 1884—January ...'.. $163,775,119 $123,474,748 1>6. 822, 3i99 F e b r u a r y . . . 166,125,119 129, 006,101 M a r c h . . . . . . 168, 425, 629 170, 725, 629 130, 314, 065 April 173, 035, 629 132, 626, 753 May 175, 355, 829 13.5, .560, 916 June 177, 680, 829 137,692,119 July 380,030,829 . 140, 615, 722 August 142, 058, 787 September.. 182,380,829 184, 730, 829 142, 926, 725 October 144, 745, 075 Noveraber.. 187, ISO, 829 146, 502, 865 Deceraber . . 189, 561, 994 191, 947,194 150, 632,154 1885—January 153,561,007 February . . . 194, 247,194 196, 697, 394 156, 698, 482 March 199,107,394 159,441,034 April 201,509,231 162, 244, 855 May........ 203, 884, 381 165, 413,112 June 205, 784, 381 166, 499, 948 July 208,259,381 166,854,215 August 165, 483, 721 September.- 210, 759, 431 213,259,431 163, 817, 342 October 105, 568, 018 November.. 215, 759,431 165,718,190 Decembtr . . 218, 259,761 169, 083, 385 1886—January .,.-. 220, 553, 761 171, 805, 906 F e b r u a r y . . . 223,145, 761 225, 950, 761 174, 700, 985 March 3. 228, 434, 121 175, 928, 502 April 231,160,121 178, 2.52, 045 May 233, 723, 286 183,253,566 June . 23.5, 643, 286 181, 523, 924 July 238, 573, 286 181,769,457 August 181, 262, 593 September.- 241,281,286 244, 079, 386 182,931,231 October 184, 911, 938 November.. 246, 903, 386 188, 506, 238 December . . 249, 623, 647 252, 503, 647 193, 963, 783 1887—January 198.112, 760 F e b r u a r y . . . 255, 453, 647 201, 672, 372 M a r c h . . . . . . 258, 474, 027 261, 524, 027 205, 788, 822 April 264, 474, 027 209, 052, "567 May 266,990,317 211, 483, 970 June....; 267, 440,317 211, 528, 891 July 270, 250,117 213,212,448 August 213, 043, 796 September.. 273, 390,157 276, 816,157 214,175, 532 October 215,882,443 November . . 280,144,157 218, 917, 539 December... 283,140, 367 223,918,380 1888—January . . . . 285, 845, 357 F e b r u a r y . . . 288,545,357- 227, 947, 493 291,355,789 232, 037, 274 March 294, 039, 7y0 236.156, 394 » April 297, 037. 790 240, 587, 970 May 299, 424, 790 243, 879, 487 June 300. 708, 790 245, 798, 765 Jnly 303, 320,790 247, 859, 402 August 248,791,534 September.. 306, 542, 890 Net standard s i l v e r dollars Silver "Standard certificates in T r e a s u r y silver dollarsafter, in circulai n circuladeducting tion. tion. silver certificates in circulation. $40, 300, 371 $13,. 179, 020 $96, 958, 031 ,$26,516,717 13, 890,100 96, 247, 721 30, 574, 678 39. 302, 72020, 488, 585 95, 919, 576 33, 086, 525 39, 419, 528 20, 876, 250 9.3, 497, 981 34,816,084 40, 411, 564 19, 936, 620 97, 363, 471 35, 263, 282 40,408,876^ 23, 384, 680 96,427,011 39,133, 905 39, 794, 913 25, 265, 980 95,138.361 42, 563, 758 39, 988, 710 26, 903, 230 94, 228, 691 46, 387, 031 39, 415,107 26, 769. 470 96,491,^51 , 45,507,536 40, 322, 042 30, 814, 970 100,741,561 42,185,164 41, 804,104 28, 951. 590 104, 988, 631 39, 756, 544 42, 435, 754 23, 302, 380 " 114,865,911 31, 636, 954 43, 059,12927, 337, 800 113,858,811 36, 773, 343 41,31.5,04029, 951, 880 111,467,951 42, 093, 0,56 40, 686,187 30,861,615 112,820,226 43, 878, 256 39, 998, 912^: 32,141,140 109, 443, 946 49, 997, 088 39,666,360 35, 575, 590 105, 085,186 57,159, 669 39, 264; 37638, 370, 700 101, 530, 946 63, 882,.166 38, 471, 269 40, 340, 980 98, 872, 306 67, 627, 842 39, 284, 43342. 712, 890 96, 079, 296 70, 774, 919 41, 405,166' 3i; 722. 990 93, 656, 716 71,827,005 45, 275, 710 31, 906, 514 93,346, 772 70, 670, 570 49, 442, 089^ 32,034, 464 92, 702, 642 72, 865, 376 50,191, 413 31,164,311 93,179,465 72, 538, 725 • 52, 541, 571 33, 978, 767 89,761,609 79,321,776 51,470,376 34,837,660 88,390,816 83,415,090 61,339,855 32, 410, 575 90,122, 421 84,578,564 51, 2.58, 776; 31,141, 055 90, 733,141 85,195, 361 52, 505, 619 30,411,016 89,184,129 89, 067, 916 52, 908, 076 27, 861, 450 88,116, 225 93,137, 341 52, 469. 720 27, 728, 858 87, 564, 044 93, 959, 880 54,119,362 25, 571, 492 . 89,021,760 92, 747, 697 56, 803, 829 22, 555, 990 95,387,112 85,875,4 81 60, 018, 693 17, 562, 302 100, 306, 800 82, 624, 431 61,148,155 14, 337, 285 105, 519, 817 79, 392.121 61,991,448 7, 338, 432 • 117,246,670 71,2.59,568 . 61,117, 40& 6, 737, 388 118,183, 714 75, 780, 069 58, 539, 864 6. 466, 347 121,130, 755 76, 982, 005 67, 340, 887 6, 212, 849 131,930,489 69, 741, 883 66,801,6555, 007, 700 137, 740, 430 68, 048, 392 65, 735, 205 5, 289,164 139,143, 328 • 69, 909, 239 55, 421, 460 3, 425,133 142,118,017 69, 365, 953 55, 506, 347 4, 200,659 144,166,341 67, 362, 750 55. 911, 226. 5, 996, 443 147, 876, 385 65, 336, 063 57, 037, 669. 3,9)9,841 154,354,826 58, 6S8, 970 60, 346, 361 3, 453, 494 160,713,957 53,461,575 62, 640, 625. 4,413,446 168 1^19,274 47, 733,169 .64,261.714 6, 339, 570 3-76, 855,423 42,062,316 64, 222, 818 14, 930, 517 179,321, 053 44,597,327 ' 61,926,977 21,166,469 184, 452, 659 43, 494, 834 60, 597, 864 39,370,425 31*1,526,445 40, 510, 829 59,318.515 18,316,309 194, 426, 932 41, 729, 462 57, 883; 396 20, 458, 423 196, 645, 405 43, 942, 565 56, 449, 820 29.104,396 200,-387, 376 43, 492, 111 65, 545, 303 23, 361, 286 203, 680, 679 42,118, 086 54, 910, 026 16, 528, 762 209, 658, 966. 38, 200, 436 55,461,388 9, 819, 875 218, 561, 601 30, 229, 933 57, 751, 356 No. 56.—COINAGE, M O V E M E N T , AND E X P E N S E OF M O V E M E N T OF STANDARD S I L V E R D O L L A R S , B Y Q U A R T E R S , TO J U N E 30, Quarter-ending- Coinage during the quarter. 1878—March 31 • J u n e 30 S e p t e m b e r SO D e c e m b e r 31 1879—March 31 J u n e 30 S e p t e m b e r 30 D e c e m b e r 31 1880—March 31 J u n e 30 S e p t e r a b e r 30.. D e c e r a b e r 31 1881—March 31 :.. - JuneSO S e p t e m b e r 30 D e c e r a b e r 31 1882—March 31 J u n e 30 S e p t e r a b e r 30 D e c e r a b e r .31 3883—March 31 J u n o SO S e p t e r a b e r 30 D e c e m b e r 31 . . . . . 3884—Marcb 31 JuneSO S e p t e m b e r 30 D e c e r a b e r 3JL 1885—March Si J u n e 30 S e p t e m b e r 30 D e c e m b e r 31 1886—March 31 JuneSO S e p t e m b e r SO . D e c e m b e r 31 1887—March 31 JuneSO S e p t e m b e r 30 D e c e r a b e r 31 3888-March31 JuneSO Total Araount Expense Total coinage Expense t o e n d of ' m o v e d o u t a t of m o v e m e n t p e r $1,000 e x p enseofthe moved. each quarter. out. Gov^ernraent, $1, 001, 500 8, 573, 500 16,212,500 22, 495, 550 28, 774. 950 35, 801, 000 42, 634,100 60, 055, 650 57,156, 250 63, 734, 7.50 70, 568, 750 77, 453, 005 . 84, 359, 505 -91, 372, 705 98, 322, 705 105, 380, 980 112, 281, 680 119,144, 780 126, 029, 880 132, 95.5, 080 140, 205, 699 347, 25.5, 899 354, 370, 8S9 161, 425; 119 168, 425, 629 175, 355. 829 182, 380, 829 189, 561, 994 196, 697, 394 203, 884, 381 210,759,431 218,259,761 226, 060,121 233, 723, 286 241, 281. 286 249, 623, 647 258, 474, 027 266,990,117 273, 390,167 283,140, 357 291, 356, 789 299, 424, 790 299, 424, 790 $570, 939 6,468,3 22 8, 642, 540 8, 269, 319 4, 829. 295 10, 878, 058 7, 639, 033 9, 927, 739 6, 236, 378 7,775, 649 9, 993, 817 11, 094, 984 6, 086, 738 6, 612, 802 8, 233, 796 10.114,981 5, 296,132 4, 332. 536 8. 884, 766 18,491,704 10, 909, 534 10.321.889 14. 945, 567 13,711,358 10, 626, 842 14, 676, 051 12, 894, 001 15, 865, 361 12,100, 366 9. 869, 868 28. 932. 564 39, 758, 456 9,912,681 14, 397, 268 17. 033, 783 14, 818, 483 15,437,441 I L 827,983 19, 953,100 14,802,610 12. 917, 794 7, 835, 852 492, 728,180 $2,100.70 15, 625. 23 18, 884. 37 70. 376. 43 23,216.84 5, .516.14 12, 543. 38 24, 633.05 9. 995. 88 11, 856. 02 2L 433, 28 29, 062. 23 9, 415, 21 11, 4:.{6.12 21,278.34 22, 727. 72 9, 364. 29 11, 432. 45 20,781,51 20,031,60 33,707.87 11,284.14 18,794.75 18, 784.99 . 9, 200. 89 16, 768. 83 14, 061. 98 20,914.33 11, 296, 50 23, 922, 00 17, 861.59 167, 268, 87 23,136,16 18, 685, 33 18, 359. 90 39,357.93 16, 929, 27 34,396,36 19,106,94 19, 881, 87 14,372.08 10, 012.18 888, 615. 65 $3. 68 2.42 2.18 8,51 4.81 6,08 1.64 2.48 1,60 1.52 2.15 2 62 1, 85 1,73 2.58 2,25 1.77 2.'64 2,34 1,08 L25 Lll 1.26 1,37 .87 3,07 LOO L32 ,93 2,42 ,62 4.21 2.23 1.29 1.07 1.31 LIO L20 .96 1.34 Lll 1.28 Amount moved into Treasury. 5, 803, 6,440, 6, 635, 3, 403, 10,440, 4, 218, 4,114, 4, 748, 6, 842, 6, 389, 4, 746, 6,165, 6, 968, 4, 831, 6, 553, 6, 984, 6, 444, 7, 074, 13, 354, 13, 124, 11, 503, 10, 503, 11,519, 13,383, 14, 300, 32,366, 13,128, 15, 160, 11, 397, 22,128, 32, 492, 11,005, 13, 286, 9, 484, 13, 719, 19, 753, 13,123, 35,312, 10, 926, 17, 822, 11, 609, 1. 80 I 437,182, 877 I Net movement out. Net movement $190, 939 . 684,204 3, 202,152 1, 733, 426 1,425,335 437, 593 3,420,581 6, 813, 356 1, 488, 322' . 933, 527 3, 604, 640 6, 348, 412 $79; 140 355, 364 3, 402, 055 3, 561, 005 1,687.946 2,112,133 1, 810, 267 5,137, 007 2, 214, 844 1,381,514 4,441,647 2,192, 207 2, 556, 206 375, 385 527,129 2, 737, 087 3, 060, 217 1,527,443 6, 804, 241 7, 265, 861 1,182,435 1,110, .584 7, 548, 973 1, 098, 716 4, 315, 754 1, 295, 508 4, 840, 214 3,876,457 4, 904, 303 3, 773, 212 85, 991, 322 | 1888. A r a o u n t in E x p e n s e of E x p e n s e c i r c u l a t i o n at-| m o v e m e n t t o |p e r $1,000 e n d of e a c h e n d of e a c h i n c i r c u . lation. quarter. quarter. 30, 446, 019 $190,939 855,143 4, 057, 296 5,790,721 7, 216, 066 7, 653, 649 11, 074, 230 16, 887, 586 18, 375,- 908 19,309,435 22, 914, 075 29, 262, 487 29, 183, .347 28, 827, 983 32, 230, 038 35, 791, 043 34,103, 097 31, 990, 964 33,801,231 38, 938, 238 38, 723, 394 35, 341, 880 39, 783, 527 41,975,734 39,419,528 39, 794. 913 40, 322, 042 43, 059,329 39, 998, 912 38, 471, 469 45, 275, 710 52, 541, 571 51, 359,136 52, 469, 720 60, 018, 693 61,117,409 56, 801, 665 55, 506, 147 60, 346, 361 64, 222, 818 59, 318, 515 55, 545, 303 $2.100. 70 17, 725. 93 36,610. 30 106,986.73 130,203.57 135, 719. 71 148. 263. 09 172, 896.14 182, 892, 02 194, 748.04 216,181.32 245, 243. 55 254, 658. 76 266, 094. 88 287, 273, 22 310, 100.94 319,465,23 330, 897.68 351,679.19 371,710.79 385, 418. 66 396,702.80 416,497.55 434, 282. 54 443. 483.43 459, 252, 26 473, 314. 24 494, 228. 57 506, 625, 07 629, 447, 07 647, 308. 66 714, 677, 53 737, 713. 69 756, 399.02 774, 758. 92 794,116, 85 811,046.32 825,242.48 844, 349. 42 864,231, 29 878, 603, 37 888, 616, 55 $1L 02 20,73 9.02 18:47 18.03 17.73 13.39 10. 24 9.95 10.09 9,43 8.38 8.73 9.23 8.92 • 8.66 9.37 30.34 10.40 9.55 10,50 1L22 10.44 10.35 13.25 1L64 1L74 11.48 12.64 13.76 12.09 13.60 14.36 14, 42 12,93 12,99 14.28 14.87 13,99 , 13, 46 14.81 16,00 PO zn PO W PO oo 88 REPORT ON T H E FINANCES. No. 57.—AMOUNT OF FRACTIONAL S I L V E R C O I N I N T H E T R E A S U R Y AT T H E E N D O F , EACH MONTH FROM M A Y , 1879, TO S E P T E M B E R , 1888. Month. 1879—May June July August • Septeraber. October..'.. November. December . 1880—January . . .February.. M arch April...... May June July....... August September. October Noveraber December . 1881—January . . . February.. MHi-ch April May Juiie July .August — Septeraber. October Noveraber. December , 1882-January . . . February.. March . . . . A pril.: May June July August ^('pteraber October Noveraber. December 1883—.Tau'uary.. Februaiy.. March. J.. April May J vine July August — September Oitober . . Niivember Dcceuiber 1884—January . . Month. Amount. 813, 5^9, 32 903, 401, 36 731, 765. 97 236, 724, 48 814, 308. 94 7.55, 986. 76 432, 478.13 881, 629.16 204, 809. 83 179, 312. 32 989,814.48 767, 672. 95 577, 091. 99 350,481,80 975, 713. 52 362,97L89 799, 925. 40 629, 489. 89 653, 530, 37 769, 057, 32 490,914,88 813,0.58,08 283, 891, 96 493, 612. 56 841, 956. 74 247, 696. 93 295, 486. 63 042, 806, 63 313,113, 63 984, 687. 76 918, 252, CO 963,643.48 567, 873. 37 896, 906, 26 187,680. 67 439,183. 93 75.5,92.3.83 048, 630, 58 153, 9.56.16 900, 387, 75 426,139. 93 749, 432. 45 544, 544. 43 521,692,20 135. 244. 74 507. 275, 78 865, 993. 79 068, 628, 88 303.196. 20 486. 001. 05 058,141,67 819,711.70 7.50,361.13 712,424.35 969. 614. 40 224,126. 33 014, 414. 76 Amount. 1884—February.., March April , May :... Juue , July August September., October ^ N o v e r a b e r .. D e c e r a b e r .. 1885—January February.., , March April May June July , August September. October Noveraber . December . 1886- - J a n u a r y February.., M a r c h . .* April May , June , July August September., October November., Deceraber . 1887- - J a n u a r y — February.., M a r c h 3. April May June July August.... Septeraber. October Noveraber . D.eceraber . 1388- - J a n u a r y . . . February .. March .' A pril May June. '. July August September. No. 58.—CHANGES DURING T H E F I S C A L YEAR |.^28, 490. 906. 91 28, 866, 5.56. S3 29, 358,480.47 29, 377, 206. 41 29, 600, 720, 06 29, 797; 485, 76 29, 659, 003, 38 29, 474,160. 89 29. 346, 757, 24 29, 143, 283, 48 29, 394, 355. .62 V 29, 901,304.54 30, 244, 836,12 SO, 632, 326, 20 30, 944, 048. 8 1 . 31, 694, 364, 80 31, 238, 899. 49 25, 35.5, 020, 23 24, 724, 287, 43 23. 641, 893,79 22, 965, 53.5, 70 27', 920, 309, 44 •27, 796, 430, 88 29, 013, 993, 71 28, 813,037.49 28, 822, 637, 63 28, 864, 482, 89 28, 912, 277, 34 28, 904,681,66 ' 28, 584, 624, 69 27, 9.56 991. 95 26, 899, 745. 20 26, 300, 335. 88 25, 808, 067. 32 25, 660, 935. 44 26, 323, 524.61 26, 482, 472. 31 26. 601,613,74 26. 891,076.57 27, 064, 742. 87 26, 977,493.79 26, 691,105.74 26, 148, 531. 34 24, 984, 219.17 24, 468,135.17 24, ,358,003.77 24,, 327, .528, 62 25,, 019, 973, 04 25,, 355, 431. 80 25, 566, 279. 65 ,2.5, 750, 228. 33 25, 878, 872. 04 26, 051, 741,19' 26, 034, 462, 25 25, 746. 758.95 24,, 738, 695. 68 1688 I N T H E F O R C E E M P L O Y E D I N TH12 TRKASUREii's O F F I C E . Total force of the Treasurer's Office June 30, 1887 Appointed Transferred to the Treasurer's Office - :.... -• 281 29 6 35 Died .•• Resigned ' Renu»ved Transferred frora the Treasurer's Oftice , Total force of the Treasurer's Office June 30, 1888 6 13 7 7 S3 - 283 89 TREASURER. No. 59.—APPROPRIATIONS MADE FOR, AND SALARIES PAID TO, T H E F O R C E E M P L O Y E D IN THE TREASURER'S OFFICE DURING THE FISCAL YEAR Roll on which paid. Tbtal . < Expended. Balance unexpended. $283, 684. 80 $273,484, 50 $10,200.30 Appropriated, Regular roll . . Reimbursable: Force employed in redemption of nationalbank notes 77, 060. 00 , ' 1888. 69, 652, 01 "1, 377, 99 360, 744, 80 . 343,166.51 , 17, 578. 29 No. 60.—NUMBER OF D R A F T S ISSUED ON W A R R A N T S DURING T H E FISCAL YEAR 1888. Class. No. 6,592 3,792 6,644 2,515 4, 283 4,884 2,398 War Navy Interior Interior civil Oustbms ' Treasury — Diplomatic .. No. Class. 2.928 2,376 3,941 65 Internal revenue . Quarterly salaries Judiciary Public d e b t . . . . . . . Total 40,438 61.—LETTERS, TELEGRAMS, AND M O N E Y PACKAGES R E C E I V E D AND TRANSMIT- T E D DURING THE FISCAL YEAR 1888. Received by mail: Letters containing money (registered) Letters containing money (not registered) 18, 063 4, 037 Letters not containing money 22.100 130,455 1 Total 352,555 Transmitted by mail: Manuscript letters Registered letters containing money Printed forms filled in (inclosing checks) iPrinted forms filled in (inclosing drafts) Drafts mailed without forms Printed forms filled in without inclosu res Printed notices inclosing interest checks Certificates of deposit without forms Printed forms, circulars, and reports Total , -.'. J •. Telegrams received Telegrams sent Money packages received by express Money packages sent by express PostoiBfice warrants signed .and registered Transfer orders issued '. - 6, 582 5,407 16,304 26, 946 13, 472 197, 331 199, 739 52,176 65, 600 573,457 6,308 1, 641 34, 829 34, 638 92,570 1, 453 (JN^o. 2 . ) REPOET OE THE BIEECTOR OF THE MIHT. TREASURY DEPARTMENT, B U R E A U OF T H E M I N T , Washington^ D, C, November 1, 1888. S I R : I have the honor to submit a report of the operations ofthe mints and assay offices under my charge for the fisca.l year ending June 30, 1888, beiug the sixteenth annual report of the Director of the Mint, and the fourth ofthe same series prepared by me. / DEPOSITS AND PURCHASES OF GOLD AND SILVER. The gold deposited at the minis and assay offices of the United States duringthe fiscal year 1888, not including redeposits, was 3,882,120.497 standard ounces, of the value of $72,225,497.56, against $68,223,072.87 in the preceding year, an excess of $4,002,424.69 over the fiscal year 1887. In addition, there were redeposits of the value of $8,668,959.11. Of the redeposits of gold, $4,395,315.84 represents the value of unparted bars, the product of the minor assay offices of the IJnited States, and $4,273,643.27 of fine bars bearing the stamp of the United States assay office at 'New York, redeposited—principally at that institution. The total deposits of gold during the fiscal year 1888, including redeposits as above cited, were 4,348,077.049 standard ounces, o f t h e value of $80,894,456.67. The deposits and purchases of silver, not including redeposits, were 35,518,839.97 standard ounces, of the coining value of $41,331,014.66, against $47,756,918.75 in the preceding year. In addition, there were redeposits of silver of the coining value of $491,831.79, ofwhich $275,189.75 consisted of unparted bars, principally of the minor assay offices, and $216,642.04 o'f fine bars. The total deposits aud purchases of silver were 35,941,507.92 standard ounces, of the value (calculated at coining rate in standard silver dollars) of $41,822,846.45. The value of both the gold and silver deposited and purchased at the mints and assay offices during the fiscal 3^ear, not including redeposits, was $113,556,512.22, and including redeposits, $122,717,303.12. A statement of the value of the gold and silverreceived at the mintis 90 DIRECTOR OF T H E 91 MINT. and assay offices of the United States (not including redeposits) during^ each fiscal year since 1880 is here appended: V A L U E OF THE GOLD AND S I L V E R (NOT INCLUDING R E D E P O S I T S ) R E C E I V E D ; AT THE M I N T S AND ASSAY O F F I C E S DURING THE F I S C A L YEARS 1880-1888. ^ Fiscal years. Gold. 1880 1881 1882 1883 1884 1885 1886 . . . ..• * .• . . ' 1887 1888... . . .' $98, 835, 096 130, 833; 102 66, 756, 652 46, 347,106 46, 326, 678 52, 894, 075 44, 909, 749 68, 223, 072 72, 225, 497 Silver. $34, 640, 522 3^0, 791,146 I s , 720, 491 36,869,834 36, 520, 290 36, 789, 774 35, 494,183 47, 756, 918 41, 331, 014 Total. $133 475,618 161,624,248 100, 477,143 83, 216, 940 82, 846, 968 89, 683, 84980, 403, 932 115, 979, 990' 113, 556, 611 Of the gold received at the mints and assay offices during the year, $32,406,306.59 was classified as of domestic production, against $32,973,027.41 in the preceding year. A reduction of a little over half a million dollars in the production ofthe United States is thus indicated. The foreign gold bullion deposited aggregated $21,741,042.44, and the foreign gold coin $14,596,885.03; a total of $36,337,927.47, against, $32,467,840.98 in the year preceding. / The value of the United States light-weight gold coin deposited, principally by individuals, for recoinage,-was $492,512.60. Old material was deposited in the ibrm of jewelry, bars, plate, etc., containing gold of the value of $2,988,750.90. Of the silver bullion deposited and purchased, $37,393,648.34 (32,135,165.79 standard ounces) was classified as of domestic production j and 29,671,470.54 standard ounces, of the coining value oi $34^526,803.02, consisted of fine bars bearing the stamp of well-known private refineries in the United States, but, as explained in previous reports of this series, and more elaborately in the reports of the Director of the Mint on Production of the Precious Metals in the United States, tlie classification at the mints of silver bullion is inexact, for the reason that fine silver bars purchased from private refineries in the United States are all necessarily-classified at the mints asof domestic production, while as a matter of fact they are to a l a r ^ extent composed, as fbr several years they have been, of silver obtained from ore and bullion imported from Mexico. The silver bullion classified as foreign bullion received at the mints during the year was $1,668,384.25 (1,433,767.71 standard ounces). Foreign silver coins of tlie value of $87,336 (75,054.37 standard ounces) were melted at mints of the United States during the year. United States silver coins, consisting almost entirely of transfers from the Treasury of worn and uncurrent subsidiary coins and old silver dollars, were melted, of the value, at coining rate in standard silver dollars, of $494,155.64 (424,665.01 standard ounces). In addition, trade dollars were received and melted of the coining value in silver dollars of $ 1,060,174.11 (911,087.13 standard ounces). Old material, consisting of plate, jewelry, etc., was deposited, containing silver of the value of $627,316.32 (539,099.96 standard ounces). S2 R E P O R T ON T H E FINANCES. . COINAGE. ' Coinage durino^ the fiscal year 1888 consisted of 109,030,547 pieces, of the value of $63,719,242.32. I t was executed at the mints at Philadelphia, San Francisco, and New Orleans. The gold consisted of 2,350,534 pieces, ofthe value of $28,364,170.50, of which $16,301,740 was in double-eagles; $8,9!')8,260 in eagies; #2,995,510 in half-eagles; $34,098 in $3.pieces; $15,682.50 in quartereagles ; and 18,880 gold dollars. The silver coina.ge consisted of 32,718,673 dollars; $2,836.50 in halfdollars; $194,668.25in quarter-dollars; and $1,219,917.50 in dimes. The subsidiary coinage amounted to 12,983,521 pieces, ofthe value of :$1,417,422.25. The minor coinage consisted of 15,207,173 five-cent nickel pieces, ot the nominal value of $760,358.65 j 45,573 three-cent nickel pieces, of the -nominal value of $1,367.19; and 45,725,073 one-cent bronze pieces, of the nominal value of $457,250.73 ; the total minor coinage amounting to <)0,977,819 pieces, of the nominal value of $1,"218,976.57. The coinage of the fiscal year exceeded in number of pieces even the large coinage executed the preceding vear, being 109,030,547 pieces in 1888 against 98,122,517 in 1887. The mint at Carson was not open for coinage during the year, its operations having been limited to those of an assay office with an acid refinery. The coinage of the mints was as follows: COINAGE, FISCAL YEAR ' Gold Silver dollars Subsidiary silver coins Minor coins ' Total Description. 1888. Pieces. . . : -- Value. • 2,350,534 32, 718, 673 12, 983, 521 60, 977, 819 $28, 364,170. 50 32, 718, 673. 00 1,417,422.25 1, 218, 976. 57 109, 030, 547 63,719,242.32 In the Appendix will be found the usual tables exhibiting the coinage l)y mints and by denomination of pieces during the fiscal year 1888 ;and the calendar y?aT 1887. A table will also be found showing, by institutions and by denomination of pieces, the coinage each calendar year since the organization of the Mint in 1792, brought forward to the close of the fiscal year 1888. This tabulation, first compiled in 1887, and printed in the Keport of the Director of the Mint for the fiscal year, is now presented in the Appendix with an explanatory note, it having transpired that at the several mints it has not been invariably the practice, as now imperatively required, to complete all coiner's deliveries within the year ofthe date of coin. All coinage statements, on the other hand, are of coin delivered by coiners to superintendents, the sum delivered within a given year being entered as the coinage of that year. Thus it has happened that coinage entered as of a given year has included unreported coin of the preceding year, or (in case of failure of continuity of coinage), indeed, of another anterior year. * . What justification, if any, can be found for such a practice, so subversive of a tabulation of coinage strictly accurate as to year of date, DIRECTOR OF T H E MINT. 93 is probably in section 3536 Eevised. Statutes. This law provides the limit of deviations in weight, known as tolerence or mint remedy, in terms of one thousand pieces. As " deliveries by the coiner to the superintendent" are specifically mentioned, justification has perhaps been found for carrying over from the year of date a number of coins within the legal tolerance of a single piece, but not of a thousand pieces. Such a practice has been by way of alternative from a condemnation of coin at the end of a year which at any other period would pass the requirements of law, and which have heretofore been held for subsequent averages. To obviate thfe objections to the practice above indicated the following instructions have been given to superintendents of the several coinage mints: In order t h a t registration of coinage of the mints of the Uniteci States shall be in exact agreement with the calendar year of date, all coin in the cnstody of the^ coiner shaU be delivered to the superintendent on or before the last day of the calendar year in which struck, and be recorded as the coinage of t h a t year. No coin bearing date of a preceding year shall remain in the custody o f t h e coiner^ MANUFACTURE OF GOLD AND SILVER BARS. In addition to the coinage executed during the year, gold and silver bars were manufactured as follows : , '- BARS M A D E , 1888. $51,765,436. 55 7, 647, 578. 27 Gold.. Silver. Total . 59, SIS, 014. 82 Corresponding values for the preceding year were as follows: BARS MADE, 1887. $58,188, 953. 66 6.481,611.25 Gold.. Silver. Total . 64, 670, 564. 91 With the exception of imparted bars of the minor assay offices, mostly shipped to the mint at Philadelphia for refining and coinage^ the bars were manufactured mainly at the assay office at New York. The value of the bars made at that institution during the fiscal year was as follows; BARS M A D E AT T H E ASSAY O F F I C E AT N E W YORK, 1888. Gold.. Silver. Total. $46, 763,125. 71 6. 057, 364.87 52,820,490.58 In the Appendix will be found the usual tables showing the weight and value, as well as the character, of the bars manufactured at each mint and assay office during the year. 94 ' R E P O R T ON T H E FINANCES. MEDALS AND DIES MANUFACTURED. The number of medals manufactured at the mint at Philadelphia during the fiscal year ended June 30, 1888, was as follows: ' MEDALS MANUFACTURED, 1888. Gold.... Silver.. Bronze. 124 531 742 Total. 1, 397 . - Th(9 number of medals sold was 1,409, of the value of $6,088. Proof sets of the coinage of the year were sold to. the number of 4,001, for which was received $4,610.68, also 1,129 single pieces, for which was received $3,370.75. The net profit on the sale of medals and proof coins was *$3,253.64. One thousand one hundred and sixty-six coinage dies were ma;nufactured at the mint at Philadelphia: 111 for gold, 332 for the silver dollar, 176 for subsidiary silver, 521 for minor coins, and 26 for proof coins. ISTine medal dies were made. The cost of manufacturing dies for coinage of the mints at San Franoisco and !N"ew Orleans was reimbursed the appropriations of the mint at Philadelphia from the appropriations of the institutions for which the dies were prepared. In the Appendix will be found the usual statement, exhibiting in detail the dies manufactured for each of the coinage mints. EXCHANGE OF GOLD BARS FOR GOLD COIN. As provided in the act approved May 2Q, 1882 (22 Stats., 97), gold bars have been exchanged at the mint at Philadelphia and at the assay office at New York for deposits of United States gold coin, presented in sums of not less than $5,000. The value of the gold bars exchanged for gold coin at the mint at Philadelphia was $486,881.25, and at the assay office at Kew York ^15,360,105; total, $15,846,986.25, against $7,604,059.89 in the preceding fiscal year. ^ T h e large increase in the value of bars exchanged at the assay office' at New York, being more than double the amount in the preceding fiscal year, indicates an increased demand for gold bars for export, the principal purpose of the exchange. The value of gold bars exchanged at the two institutions for gold coin is exhibited in the following table: * Includes $676.54 of prior years not previously credited. DIRECTOE OP T H E 95 MINT. F I N E GOLD BARS E X C H A N G E D F O R GOLD C O I N AT THE M I N T AT P H I L A D E L P H I A AND ASSAY O F F I C E AT N E W YORK FROM J U L Y 1, 1887, TO J U N E 30, 1888. Pbiladelphia. New York. Total. 1887. July August September October N o v e m b e r •. December $20, 072.10 45,169. 65 35,122. 68 50,174. 07 46,178. 62 25, 089.33 $413, 560. 75 608, 936. 36 ^ 672,920.50 697, 899. 09 494. 096.28 327,997.22 $433, 632. 85 654,106. 01 708, 043.18 748, 073.16 539, 274. 80 353, 086.55 60, 211. 36 35,161. 07 40,163. 38 50, ] 96. 76 .40,142.67 40,199. 76 457, 991.84 563, 566. 29 887,852.37 456, 312.29 6, 579, 753. 94 3, 209, 218. 07 518, 2 0 ^ 20 688, 727. 36 486, 881. 25 15, 360,105.00 1888. January February M a r c h '. April May June , Total . 928,015.75 506, 509. 05 6, 619, 896. 51 • 3, 249, 417. 83 15, 846, 986.25 • R E F I N I N G Bl^ ACIDS. The acid refineries of the coinage mints, including the mint at Carson, and the assay office at New York, operated on 6,729,419 gross ounces of the precious metals, containing gold and silver of the coining value of $29,748,566.30. The number of ounces of gold and silver and the value of the bullion delivered to the acid refineries during the year were as follows: P R O D U C T OF A C I D E E F I N E R I E S , Standard ounces. Bullion. Gold Silver . 1888. :... i Total Value. 1, 251. 033.237 5,563,189.300 $23, 275, 036. 95 6, 473, 629. 35 6, 814, 222. 537 29, 748, 566. 30 The total value was against $30,397,422 in the preceding year, a slight decrease. The following table exhibits the weight and value of the bullion treated by refineries of the several mints and the assay office at New York: R E F I N I N G ( B Y ACIDS), F I S C A L Y E A R Silver. Gold. M i n t or a s s a y office. Gross ounces. 841,015. 65 Philadelphia... S a n F r a n c i s c o . 1, 386, 662.03 786, 363.16 Carson 11, 825. 80 New Orleans... 3, 703, 553.00 New York Total 1888. Total value. Standard ounces. Value. Standard ounces. Value. 243, 243. 783 $4, 525,465.73 630, 575. 30 $733, 760. 34 $5, 259, 226: 07 277, 485. 322 5,162, 517. 62 1, 227,42L 83 1, 428, 272. 67 6, 590, 790. 29 45, 438. 046 845, 358. 99 766, 376. 23 891, 783. 24 1, 737,142. 23 74, 313.21 8,317.94 9, 679. 06 3,474.086 64,634.15 681, 392. Ooo 12, 677, 060. 46 2, 930, 498. 00 3, 410, 034. 04 16,087,094.60 6, 729, 419. 53 1, 251, 033. 237 23, 275, 036. 95 5, 563,189. 30 6, 473, 629. 36 29, 748, 566. 30 96 REPORT ON T H E , FINANCES. SILYER PURCHASES. " During the fiscal year 27,235,601.06 standard ounces of silver bullion^ at a cost of $23,398,466.06, was delivered upon purchases by the Secretary of the Treasury through the Bureau of the Mint upon offers made-Tuesday and Friday of each week. The average cost per standard ounce/Was $0.8591129 or $0.9545699 per ounce fine. Computed from cable quotations received daily by the Bureau of the Mint, the average London price for silver .925 fine, British standard, was 43.675 i)ence, which at the average rate for sterling sight exchange, $4.8602, equals $0.8607 per ounce .900 fine. United States standard. Upon purchases by the superintendents of the mints at Philadelphia, San Francisco, New Orleans, and Carson, at rates fixed from time to time by the Director of the Mint; was delivered 837,360.83 standard ounces of silver at a cost of $723,683.70. . By purchase of silver parted from gold deposits, by bar fractions, and by charges on deposits of silver for return in fine bars, 133,844.02 standard ounce's was acquired at a cost of $115,403.44. The total amount of silver bullion delivered upon purchases for the coinage of standard silver dollars was therefore 28,206,805.91 standard ounces and the cost $24,237,553.20, an average cost per standard ounce of $0.8592803, equal to $0.9547559 per ounce fine. The amount and cost of the silver bullion delivered upon purchases are exhibited in the following table: B U L L I O N F O R THE S I L V E R DOLLAR COINAGE, Standard ounces. Mode of acquisition. Purchases Treasury Departinent Bureau of the Mint Purchases at niints . * Partings, bar charges and fractions Total delivered on purchases Balance J u l y l 1887 , . 1888. .... .. ..... Available for coinage of silver dollars during fiscal year 1888.. Cost. 27, 235. 601. 06- $23, 398, 466. 06 723, 683. 70 837, 360. 83 115,403.44 133, 844. 02 28, 206, 805. 91 - 24, 237, 553. 20 4, 052, 268. 68 .'3, 560, 848. 97 32, 259, 074. 59 271798, 402.17 The increase in purchases at mints arose from the fact that the superintendent of the mint at San Francisco was authorized to purchase quantities exceeding 10,000 ounces. On the 1st of July, 1887, the amount of silver available for the silver dollar coinage was 4,052,268.68 standard ounces, costing $3,560,848.97. Adding to this the amount delivered upon purchases, as show:n in the above table, 28,206,805.91 standard ounces, costing $24,237,553.20, gives the total amount available during the fiscal year for the silver dollar coinage, namely, 32,259,074.59 standard ounces, costing $27,798,402.17. The accompanying table exhibits the amount and cost of silver bullion delivered at the several mints: DIRECTOR OF T H E 97 MINT. D E L I V E R I E S ON P U R C H A S E S OF S I L V E R BULLION, Standard ounces. Mints. Philadelphia NewOrleans ... . 16, 635, 443. 94 9,784,268.84 .. Sah Francisco Carson Total 1888. 1,753,466.92 33,626.21 . .. . 28, 206, 805. 91 -. Cost. $14, 275, 836. 81 8, 407, 095. 32 1 5'>5 393.37 29, 227.70 24, 237, 553.20 The number of silver dollars manufactured was 32,718,672*, containing 28,117,608.74 standard ounces of silver, costing $24,310,749.68. "The OT^erative wastage in this coinage was 18,117.80 standard ounces, costing $15,250.97, and there was sold in sweeps 39,877.82 standard ounces, ofthe value of $34,496.61. The gross consumption of silver in the silver dollar coinage was 28,175,604.36 standard ounces, costing $24,360,497.26. . . Upon the silver dollars coined during the year there was a seignorage of $8,407,922.32. The amount and cost of bullion available for the silver dollar coinage at the coinage mints, June 30, 1888, are sliown in the following table: BULLION FOR S I L V E R D O L L A R COINAGE ON HAND J U N E 30, Standard ounces. Mints. . Philadelphia N e w Orleans . . . . Sah F r a n c i s c o Carson . . . . Total : 1888. Cost. 2, 819, 695. 94 ' 1, 081, 020.10 104, 484. 61 78, 269. 59 $2, 370, 688. 56 906, 060.20 91, 300. 79 69, 855. 36 4,083,470.24 3,437, 904. 91 The Appendix contains tables showing by months the amount and cost of silver delivered on purchases, the amount and cost of silver, used, and the number of silver dollars coined. PRICE OF SILVER. / . • At the beginning of the fiscal year, July 1, 1887, the London price of silver was 44 pence. A demand for bar silver both on Indian and continental account tended to raise the price on the 21st of July to 44-i^e pence. Owing to a decline in Indian exchange, a reaction took place, the price having closed on the 31st of the month at 44J pence. Subsequently a progressive rise in the price followed an improvement in rates for Indian exchange. The price rose on August 26 to 45-fV, the highest reached during the fiscal year. ThG price again declined early in September to 44J, and after advancing to 44-|, ranged from September 20 to October 18 from 44J to 44J pence. • Exclusive of one for Mint cabinet. H, Ex. 2 98 R E P O R T ON T H E FINANCES. Toward the end of October the price declined, and during the month of I^Tovember fluctuated between 44 and 43-i^6 pence. Owing to increased demand for shipment to the East, the price on December 19 reached 45^ pence, closing on the 31st at 44^ pence. . In January, 1888, commenced a decline which continued steadily with slight fluctuations until the 19th of May, when the price reached 4 1 | peilce, the lowest price of which this Bureau has record. During the remainder of the vear the price gradually advanced, closing June 30.ar 42J pence. . According to daily cable quotations to the Bureau of the Mint, the average London price of silver daring the year was 43.675 pence, equivalent, with exchange at par ($4.8665) to $0.95741 per fine ounce. At this rate the bullion value of the standard silver dollar was $0.7505; or $0.7661 at the highest price (45^^ pence), and $0.7057 at the lowest price (41f pence). The highest, lowest, and average price of silver in London each month during the fiscal yeaiy compiled from daily cable dispatches to the Bureau of the Mint 5 and also the equivalent values of an ounce of fine silver at par,of exchange, and at average monthly rate of exchange, and a similar exhibit for the calendar year 1887, are set forth in the following tables: . H I G H E S T , L O W E S T , AND A V E R A G E P R I C E I N L O N D O N OF S I L V E R BULLION, 925 THOUSANDTHS F I N E , AND V A L U E OF A F I N E OUNCE, EACH MONTH, D U R I N G F I S C A L YEAR 1888. [Compiled from daily telegraphic cable dispatches to the Bureau of the Mint.] J Date. 1887. July Highest. Lowest. Pence. Pence. 44/s August September. October November. 45x^H December.. 45^ 1888. J a n u a r y . .. February.. March 44A 431 April May ....... m 42f June 421 45 44^ 44 44r% Average ... m 44i 44/H 4S-H . 43f5 4311 44x\ 43i§ 43 42^ m 42 Average price per ounce British standard. .925. Pence. 44.148 44. 570 44. 642 44.159 43. 840 44. 368 Equivalent Average inU.S. money, p e r m o n t h l y o u n c e fine, price at w i t h ex- N e w Y o r k change ofexchange at par on L o n d o n . $4.8666. $0. 96777 0. 97702 0.97860 0. 96802 - 0.96102 0.97260 $4.8443 4.8394 4. 8394 4. 8478 4.8506 4. 8521 44.380 44.033 43. 293 42. 669 42. 048 42. 092 0.97286 , 0.96525 0. 91903 0.93535 0. 92174 0. 92271 4. 8637 4. 8613 4. 8757 4. 8754 4. 8867 43. 675 0. 95741 Eouivalent i n U. S. m o n e y of fine bar silver 1,000 fine. b a s e d on average monthly quotations. w i t h exchange at average monthly rate. Average monthly New Y o r k p r i c e of fine b a r silver. $0.96335 0.97154 . $0.96417 0. 97232 0. 97287 0. 96442 0. 95788 0.96972 0. 97458 0.96625 0.96020 0.96980 . 0.97219 0.96421 0. 95083 0.97342 4. 8857• 0.93709 • 0.92577 0.92633 0.96630 0. 95514 0.94085 0.92803 0.92639 4. 8602 0.95617 0. 95782 DIRECTOR m O F T H E MINT. H I G H E S T , L O W E S T , AND A V E R A G E P R I C E O F S I L V E R B U L L I O N , 925 T H O U /SANDTHS, F I N E , I N L O N D O N , A N D T H E V A L U E O F A F I N E O U N C E , E A C H MONTH, D U R I N G THE CALENDAR Y E A R 1887. [Compiled from daily .telegraphic cable dispatches to the Bureau of the Mint.] ' Tilonth. Lowest. Highest. Equivalent Average i n U . S. price per ounce o u n c e fine, British w i t h exstandard. change at .925 fine. par, $4.8665. , : 1887. Pence. -3'anuarv.. February.. m 47 March . . . . . April :May June July Pence. 46i August ^September. October...November. December . Pence. $4.8616 $1 02560 4. 8848 4.8712 1.02669 . $1.02620 1.02792 . 99706 1.00093 4. 8724 43. 580 . 96374 . 95532 . 96490 . 95658 .95845 43.968 . 96383 4.8538 . 96130 m 44i. 44.148 . 96777 4. 8443 . 96335 44. 570 . 97702 4. 8394 . 97154 .96417 . 97232 44/^ 43if 44. 642 44.159 43. 840 . 97860 . 96802 .96102 4. 8394 4.8478 . 97287 . 96442 . 97458 . 96625 44. 368 .97260 4.8506 4. 8521 . 95788 . 96972 .96020 . 96980 44. 681 . 97946 4. 8576 . 97766 . 97899 46. 833 46. 660 $1. 02663 1.02284 46/^ 441 46x\ 44^ 43i 45.440 .99610 43.964 43-11 44i 43xV 43f 451% 45 44^ 44 mh 45^ 43ig 44/^ Equivalent in U . S. m o n e y of fiue Average b a r silver. Average rnontiilv 1,000 fine, montlily based on av- N e w Y o r k p r i c e ;'.t N e w Y o r k e r a g e m o n t h - p r i c e of of e x c b a n g e ly q u o t a t i o n s . fine b a r w i t h exon L o n d o n . silver. Change a t ' average monthly rate. Average. 4. 8729 CIRCULATION OF SILVER DOLLARS. .96500 . .96207 ' The following is a comparative statement of the total number of silver dollars coined, held by the Treasury for redemption of certificates, held in excess of certificates outstanding,, and the number in circulation «July 1, 1887, and subsequent dates: COINAGE, M O V E M E N T , AND CIRCULATION O F STANDARD S I L V E R DOLLARS. In the Treasury. Total coinage. Period. -July 1, 1887.... January 1, 1888 J u l y 1, 1888.... October 1, 1888. $266, 990,117 283, 295, 357 299, 708, 790 306, 750, 890 Held for pay- Held in excess ment of of certificertificates out- cates outstanding. standing. $142,118,017 176,856,423 200, 387, 376 218,561,601 DISTRIBUTION OF SILVER $69, 365,953 42,062,116 43,492,111 o 30,229,933 In circulation. $55, 506,147 64, 377, 818 55, 829, 303 57, 959, 356 DOLLARS. The following table shows the number of silver dollars on hand at t h e several coinage mints July 1, 1887, coined during the year, dis 100 REPORT ON T H E FINANCES. tributed under section 3527 Eevised Statutes, and the number transferred to and from the United States Treasury : DISTRIBUTION OF S I L V E R DOLLARS, In mints July 1, 1887 Coinage of fiscal year Transferred from sub-treasury Total New Orleans. Carson. 35, 386,110 . 18, 788,015 18, 514, 673 2, 304,000 5, 000, 0.00 8,163, 744 11, 900, 000 9,821 62,347, 690 32,718,6735, 000,000 63, 900, 783 4, 000, 000 26, 092, 015 20, 063,744 9,821 100, 006, 3634,000,000' 49, 900, 783 47, 016, 836 26, 092, 015 25,142, 074 20, 063,744 11, 850, 034 9,821 5,315 96,066,363 / 84, 014, 259 2,883,947 949, 941 8, 213, 710 4,506 12 052 104 Philadel-, phia. Period. ^ Available for distribution In mints June 30, 1888 Distributed from mints • 1888. San Francisco. . Total. The above table shows the distribution from mints of 12,052,104 silver dollars during the year, an excess over distribution of the preceding year of 1,150,176. Owing to the crowded condition of the vaults at the sub-treasury a t San Francisco^ 5,000,000 silver dollars were transferred to the mint in that city. .A transfer of 4,000,000 silver dollars was made from themint at Philadelphia to the Treasury of the United States. SUBSIDIARY SILVER COINAGE. The balance of silver bullion available for subsidiary coinage on hand at the mints at San Francisco and Philadelphia July 1, 1887, wa^ 2,756,323 standard ounces, the cost of which was $3,167,212.07. Nearly all of this bullion was derived from trade-dollars transferred in 1887 melted for recoinage. During the year transfers for recoinage into subsidiary coin were made from the Treasury to the mints at San Francisco and Philadelphia^ of worn and uncurrent silver coin of the nominal value of $535,355.99 j. and of 745,690 trade-dollars redeemed. The number of ounces at standard fineness contained in the worn and uncurrent silver coin and trade-dollars transferred from the Treasury to the mints at Philadelphia and San Francisco, and the cost of the^ metal contained therein, are shown in the following table: SILVER COINS T R A N S F E R R E D F O R COINAGE INTO SUBSIDIARY COIN, 1888. Uncurrent coin. Mint. Philadelphia San Francisco Total Standard ounces. Cost. Trade-dollars. Standard ounces. Cost. Total. Standard oances. Cost. c86.0,234. 80 $1, 022, 257. 05c351, 905.90 $437, 830. 05. 508, 328. 90 $584,427 182. 55 I 146.72 182. 55^ I 146.72 62,181.70 77, 364. 50 140, 383. 50 161, 263 202, 565.20 238, 627. 50414, 234. 32 515, 377.10 648,712.40 745, 690 1, 062, 946.72 1,261,067.10^ 101 DIRECTOR OF T H E MINT. The following table exhibits the standard weight and cost of bullion ^tised, and the nominal value of the subsidiary coins- manufactured a t ithe mints at Philadelphia and San Francisco during the fiscal year: AMOUNT, COST, AND' NOMINAL V A L U E OF SUBSIDIARY S I L V E R COINAGE, 1888.- Sources from which bullion was deri^"ed. Standard ounces. Cost. Total value of coinage, - MINT AT P H I L A D E L P H I A ^ Trade-dollars transferred Bullion transferred ... . - .............. ^ ... - T 01 al : $408, 565 40 328, 381 44 338, 378. 76 ' 388, 897. 88 463.51 459. 78 $408, 565.40 421, 000. 00 • 572.05 667, 222 97 797, 926. 79 830,137.45 62,181. 70 409, 848 45 77, 364. 50 471,-007.26 77,364. 60 509, 920. 30 472, 030.15 548,371.75 587, 284.80 485, 929. 90 ^859, 905 13 463 51 485, 929. 90 930,920. 30 572. 05 MINT A T SAN F R A N C I S C O . W^orn and uncurrent coins transferred Trade-dollars transferred • Total : TOTALS. • Worn and uncurrent coins transferred Trade-dollars transferred . . . . Bullion transferred . . . .. . 390, 506.14 748, 227 20 459 78 1,139, 253 12 , 1, 346, 298. 54 1, 417, 422. 25 Total Precedence having been given at the mint at Philadelphia to the mandatory coinage of silver dollars, that institution was unable to meet the demand for dimes. The inint at San Francisco was therefore called •upon to execute a coinage in diuies, of which $395,284.80 was coined. It was also found that the stock of quarter dollars held by the sub-treasury at San Francisco was likely to be soon absorbed. The same mint therefore coined during tbe fiscal year from trade-dollar bullion on hand $192,000 in this denomination of subsidiary coin. This coinage was increased to $250,000 in August, 1888. The following table shows the denominations and value of subsidiary 'Coin manufactured during the fiscal year: SUBSIDIARY COINAGE, FISCAL YEAR Denominations. Half dollars Quarter dollars Dimes '. - Total 1888. Pieces. 5,673 778, 673 - - " 12,199,175 12, 983, 521 Value. $2,836.50 ]94,668.25 1,219, 917! 50 1, 417, 422. 25 . The seignorage upon subsidiaiy coinage during the j-ear is shown in the accompanying table: SEIGNORAGE ON SUBSIDIARY COINAGE, 1888. From lars From From recoinage of half and quarter dollars coined prior to 1853, and of silver dolcoined prior to 1873, and other uncurrent coin trade dollars transferred silver buUion purchased $68. 09 71,015.17 108. 54 Total : 71,191.8 102 REPORT ON T H E FINANCES. The standard weight and cost of silver bullion available for s u b sidiary coinage at the mints at Philadelphia and San Francisco June 30., ,1888, are set forth in the following table: S I L V E R FOR SUBSIDIARY COINAGE ON HAND AT COINAGE M I N T S J U N E 30,1888.. ' Mints. T o Lili. Philadelphia. Character. Standard ounces. Sah F r a n c i s c o . Cost. Standard ounces. Cost. Standard oances. Cost. W o r n and uncurrent 23, 521. 53 $29,264.74 23, 521. 53 $29, 264. 74 T r a d e - d o l l a r bullion 2, 438, 848. 40 2, 802, 955. 80 214, 984. 25 $247, 065. 57 2, 653, 832. 65 3,050, 021.37 Bullion transferred2 694 52 2,662.42 2, 662.42 2,694.62 2, 465, 032.35 2, 834, 915. Oo'su 984. 9.5 Total TRADE-DOLLAR 247, 065. 57 2, 680, 016. 60 3, 081, 980. 63^ RECOINAaE. Trade dollars redeemed under the act of March 3,1887 (24 Stats.^ 634) and remeited yielded 6,687,690.71 standard ounces of silver bullion, of which there has been recoined at Philadelphia and San Francisco to June 30 of the current calendar year. 994,978.45 standard ouuces, or 14.87 per cent., namely, $1,040,920.30 of dimes, $194,500 of quarter dollars, and $2,500 of half dollars. Tlie seignorage or profiton this recoinage from March 3, 1887, to June 30, 1888, aggregates $94,438.67, a net gain of about 8.3 per cent., tha average abrasion being about .006 per cent. The following tables, with others in the Appendix (pp. 180-183),, brought down to date of thi^ report, exhibit the recoinage of trade dollars: CONVERSION OF T R A D E DOLLARS INTO B U L L I O N . I ' i s c a l y e a r 1837. Standard ounces. Value. , Total. F i s c a l y e a r 1888, Standard ounces. Value. Standard ounces. Value. T r a d e dollars r e d e e m e d a t T r e a s u r y a n d subt r e a s u r i e s a n d transferr e d to— ! C 506,702.00 $582,556.00 M i n t a t P h i l a d e l p h i a . 2,475,462.00 $2, 844, 813 \ * 1,626.90 1,87L00 2,983,790.00 $3,429,240.00764,263.00' 665,020.20 603, 000 140,383.50 161,263.00 M i n t a t San F r a n c i s c o 524,636.70 A s s a y ofiice a t X e w 2,781,877.21 3,200,000 257,002.40 295,533.00 3,038,879.61 3,495,533.00' York ..: 5,781,975.91 6, 647, 813 905,714.80 1,041,223.00 6,687,690.71 7,689,036.00' Total R e c o i n e d t o J u h e 30,1888— M i n t a t P h i l a d e l p h i a . 206, .563.75 M i n t a t San F r a n c i s c o • 40,187.50 257, 000 50, 000 338,378.75 409,848.45 246,75L25 307, 000 748,227.20 .930,920:30 . 994,978.45 1,237,920.30 U n c o i n e d J u n e S O , 3888— Mint at Philadelphia. M i n t aD S a n F r a n c i s c o A s s a v office a t N e w Y^rk 421,000.00 509,920.30 544,942.50 450,035.95 678,000.00^ 559,920.30 2,438,848.40 2,802,955.80214,984.25 247,065.5T 3,038,879.61 3,495,533.00' 5,692,712,26 .6,545,554.37- ' Transferred from Mint at New Orleans (October, 1887). DIRECTOR OF RECOINAGE OP T R A D E - D O I X A R BULLION. San Francisco. Philadelphia. Pieces. 103 THE'MINT.. Value. Pieces. Total. Pieces. Value. - Value. F i s c a l y e a r 1887: 500, ,000 $50, 000. 00 3, 070, 000 $307, 000.00 4,160, 000 10, 000 6, 000 416,000.00 3,179, 203 2,500.00 768, 000 2, 500. 00 317, 920. 30 192, 000. 00 7, 339, 203 778, 000 5,000 733, 920.30 194, 500. 00 2, 500. 00 4,175, 000 421, 000. 00 3, 947, 203 509, 920.30 8, 122, 203 930, 920.30 6, 745, 000 678, 000. 00 4,447, 203 559, 920. SO 1,547,353 151, 735. SO 1,000,000 232, 000 100, 000. 00 58, 000. 00 2, 547, 353 . 232,000 254, 735.30 58, 000.00 1,547,353 154.735. SO 1, 232, 000 158, 000.00 2, 779, 353 312, 735. 30 832, 735. 30 5, 679, 203 • 717,920.30 13, 971, 556 1,550,655.60 2, 570, 000 $257, 000.00 Dimes F i s c a l y e a r 1888; Dimes.... Quarter dollars Half dollars T o t a l t o J u n e 30, 1888 11,192,203. 1, 237, 920.30 J u l y I t o N o v . 30,1888: Dimes Quarter dollars ... A g g r e g a t e t o N o v . 30, 1888 .. . . . 8, 292, 353 SEIGNORAGE ON RECOINAGE OF T R A D E - D O L L A R BULLION. Philadelphia. San F r a n c i s c o . $19,613.68 $3, 809. 82 31,720.85 190.61 190. 63 24, 261.14 Total. F i s c a l y e a r 1887: Dimes F i s c a l y e a r 1888: Dimes Quarter dollars Half dollars $23, 423, 50 14,65L91 55, 981. 99 14, 842. 55 190. 63 32,102.12 38, 913. 05 71,015.17 51, 715. 80 42, 722.87 94, 438. 67 J u l y 1 t o N o v e m b e r 30, 1888 : Dimes Quarter.dollars 11,799.23 7, 631. 22 4, 426.10 19, 430. 45 4, 426.10 11, 799. 23 12,057.32 23, 856. 55 A crgregate t o N o v e m b e r 30 1888 63, 515. 03 54,780.19 118, 295 22 -i. "• T o t a l t o J u n e 30, 1888 . SEIGNORAGE ON SILVER COINAGE. The seignorage on the coinage of silver dollars, being the difference between the qost of the bullion and the nominal value of the coins, during the fiscal year 1888, amounted to $8,407,922.32. The seignorage on subsidiary silver coins manufactured was $71,191.80, of which $71,015.17 was'derived from melted trade dollars recoined; $68.09 from recoinage of halves and quarters of date prior to 1853, and of mutilated silver coins. The remainder of the profit, $108.54, accrued on coins manufactured from purchased bullion. The seignorage on the entire silver coinage of the year was $8,479,114.12. 104 ' REPORT ON THE' FINANCES. The balance of silver profits remaining in the mints at the close of the fiscal year 1887 was $150,645.95, which added to the seignorage of the year makes the gross profits to be accounted for $8,629,760.07. Ofthis the sum of $28,961.96 was paid for expenses connected with the distribution of silver coins, and $23,157.52 was used to reimburse the operative loss of silver and the loss of silver in sweeps sold. There was deposited in the Treasury of the United States $8,435,550.14, leaving dn hand June 30, 1888, in the coinage mints at Philadelphia, San Francisco, and New Orleans the sum of $142,090.45, which balance has since been deposited in the Treasury. The numbers of certificates of deposit are cited in the table of seignorage printed in the Appendix. The seignorage o n t h e coinage of silver from July 1, 1878, to June 30, 1888, has amounted to $47,536,681.02. Adding the balance of silver profits in the coinage mints July 1, 1878 (the beginning of the fiscal year following the passage of the act providing for the coinage of the silver dollar), namely, $424,725.47; and also the sum of $9,237.54 refunded by Adams Express Company for overcharges in bills for shipping silver dollars; and the further sum of $4^560.30, consisting of profits arising from surplus silver bullion recovered, and from adjustments of silver values, not strictly seignorage on silver coins but carried to the credit of the Silver Profit Fund, makes the total silver profits to be accounted for since the above date $47,975,204.33. Of the gross profits the sum of $715,562.64 has been paid for expenses of distributing silver coins, as provided by law, including $9,237.54 refunded by the express company, as above explained. The additional sura of $231,369.42 has been used to reimburse wastage incurred in the coinage of silver, and loss on silver sold in sweeps attending that coinage. The net profits on manufticture of silver coin for the ten years ended June 30, 1888, including the balance in mints Jul}' 1,1878, has therefore amounted to $47,028,272.27. Of net profits there has been deposited in the Treasury of tlie United States bv covering warrants, prior to the close of the fiscal year IS88, the sum of $46,886,181.82. The balance of the net profits, $142,090.45, was in the mints at Phila-. delphia, San Francisco, and New Oiieaus June 30, 18S8, and has since been deposited in the Treasury. The usual table, showing for the fiscal year 1888 the seignorage at each institution on the manufacture of silver dollars and subsidiarj^ coio, separately, as well as disposition of the profits, will be found in the Appendix. MINOR COINAGE. During the fiscal year the minor coinage was the largest in the history, of the mint at Philadelphia, the remarkable demand for 5-cent and 1 cent pieces during the two preceding years having been maintained and even exceeded. Blanks for this coinage w^ere supplied under contract with Mr. Joseph Wharton, the same as during the preceding year, in order to enable the mint to meet requisitions for coins of all denominations, including two thirds of the mandatory coinage of silver dollars. The amounts of 1-cent bronze and 5-cent nickel blanks delivered to the mine during the year, and fhe cost of the same are shown in the following table: " DIRECTOR 105 OF T H E MINT. Weight iu pounds. Blanks for— Bronze 1-cent pieces Nickel 5-cpnt nieces - • Total Cost. 275, 557. 55 136,119. 99 $74,026. 69 60, 341.38 411, 677.54 134, 368. 07 Under authority conferred by actof Congress approved March 3,1887, •minor coins amounting to $157,418.60 were transferred to the mint for recoinage and re-issue. The amount and denominations of coins so transferred are shown in the following table: M I N O R COINS T R A N S F E R R E D B Y T H E T R E A S U R E R OF T H E U N I T E D STATES AND D I S P O S I T I O N T H E R E O F D U R I N G T H E F I S C A L YEAR 1888.. Redeemed. Denominations. B r o n z e 1-cent p i e c e s . . Bronze 2cent pieces... N i c k e l 1-cent p i e c e s . . N i c k e l 3-cent p i e c e s . . N i c k e l 5-cent p i e c e s . . Old copper cent pieces Total... Re-issued. B a l a n c e for recoinage. $25, 777. 61 . 4, 762.70 5,466. 31 11,706. 27 109, 406. 50 309.21 $19,400 99, 900 $6, 377. 61 4, 752. 70 5, 466. 31 11,706.27 9. 506. 50 157, 418.60 119, 300 37, 809. 39 Of the coins transferred the value of $37,809.39 being unfit for reissue was melted for recoinage, while $309.21 in old copper cents, unfit for coinage purposes, has been malted and sold as old liietal under an appropriation* by Congress to reimburse the Treasury for the loss. The following table exhibits the denoniination, nominal value, and distribution of minor coins during the fiscal year 1888: M I N O R COINS DISTRIBUTED FROM T H E M I N T AT P H I L A D E L P H I A D U R I N G T H E FISCAL YEAR 1888. State or Territory. Alabama Arkansas Arizona 5-cent S-cent nickel. n i c k e l . 1-cent bronze. $4, $1, 200 1,000 Michigan 620 870 6,850 1,600' 200 875 456 3,520 9,260 9,900 49, 005 Maine Mississippi Montana Maryland Missouri New York North Carolina , •California Colorado , C o n n e c r i c u t ." Delaware D i s t r i c t of C o l u m b i a Dakota" Florida Georgia Indiana Iowa ...... Illinois Idaho Kentucky Kansas Louisiana 2,700 4,415 , 600 s t a t e or T e r r i t o r y . Massachusetts Minnesota .. .'... New Jersey New Hampshire . . . N e w Mexico Nebraska Ohio Oregon...... Pennsylvania •Rhode I s l a n d * A c t of O c t o b e r 2, 1885 (25 S t a t s . , 519). 5-cent nickel. S c e n t 1-cent nickel. bronze. |$10, 680 34, 530 $15, 990 24, 460 7,905 1,990 40 11, 990 1,030 660 2,730 12, 675 24, 420 88, 323 3,305 14, 460 2,160 220 20, 105 28, 840 2,280 71, 210 1,920 9,870 3,320 110,168 2,530 11, 830 3,160 90 4,620 27, 475 120 40, 065 5,150 106 REPORT ON THE FINANCES. MINOR COINS DISTRIBUTED FROM THE MINT AT PHILADELPHIA, ETC.—Cont'd.State or Territory. South Carolina Texas Tennessee . . . . Utah Virginia , Vermont 5-cent 3-cent 1-cent nickel. nickel. bronze. $4,135 15, 610 17, 650 1,600 7,105 960 $1,245 60 2, 530. $30 3, 375 1, 480 State or Territory. 5-cent 3-cent 1-cent nickel. nickel. bronze. West Virginia Wisconsin Washington W^vomiu"" $1, 550 9,775 2,125 200 Total 578, 998 $96(> 8,520 120 $270 380, l i s RECAPITULATION. Denomination. Value. Pieces. Five-cent pieces . One-cent pieces.. Three-cent pieces 11, 579, 960 38, Oil, 300 9,000 $578, 998 380,113 270 Total 49, 600, 260 959,381 The following statement exhibits the value of the difi^erent.denominations and types of minorcoin issued from the mint at Philadelphia since its establishment, the amount melted, and the amount outstanding: VALUES OF THE SEVERAL TYPES OF MINOR COINS COINED AND REMELTED X FROM THE O R G A N I Z A T I O N O F I N G J U N E 30, 1888. Denomination. Copper cents Copper half-cents . . Copper nickel cents Bronze cents Bronze 2-cent pieces Nickel 3-cent pieces Nickel 5-cent pieces Total THE-MINT, AND THE AMOUNT OUTSTAND- Outstanding June SO, 1888. Coined. Remeited. $1, 562, 887. 44 *39, 926.11 2, 007, 720. 00 4, 776, 526.21 912, 020. 00 905, 072.19 9, 452, 030.40 $372, 741.70 ;l, 190,145. 74 741, 082. 61 30, 894.72 296, 880. 78 187, 247. 71 71, 440. 50 1, 266, 637. S£> 4,745, 631.40 615,139.22 717, 824.48 9, 380, 589. 90 19,656,182.35 1, 700, 288.02 17,915,968.22 * There is no record of the melting at the Mint of any old copper half-cents; but it is believed ' • that few, if any, are in circulation. APPROPRIATIONS AND EXPENDITURES. The amount specifically appropriated for the support of the mints and assay offices of the United States for the fiscal year 1888 was $r,096,390. This amount is in excess of the appropriations stated in my last fiscal report, by the sum of $1,890, which is the amount of a subsequent deficiency appropriation for wages at the assa^^ office at Boise City made March 30, 1888. (25 Stats., 48.) ' The appropriations included the sum of $2,000 for repairs of building at Denver, and $1,000 for repairs of building at Boise City. Besides the amount specifically appropriated, the unexpended balance of the appropriation for renewal of steam-power plant at the mint at Philadelphia, namely, $43,174.93^ was used during the fiscal year. DIRECTOR 107 OF, T H E MINT. Of the specific appropriations there was expended $1,039,492.35. There was also expended by the mints from the permanent appropri'ation* for the coinage of the silver dollar the sum of $233,559.84, and, $921 by the Bureau ofthe Mint, the latter amount for daily quotations by telegraph of the price of silver in London. The total expenditures forthe service of mints and assay offices, including mandatory coinage of the silver dollar, amounted during the fiscal year to $1,273,973.19. Appropriations and expenditures for the mints and assay offices areexhibited in the following table: * APPROPKIATIONS AND EXPENDITURES, 1888. A P P ' R ' O P R I ATIONS. Salaries. Institutions. Wages. Coinage of standard s i l v e r dolC o n t i n g e n t . R e p a i r s of l a r s , a c t of buildings. February 28, 1878 (indefinite). Total. • Mints. Philadelphia 41, 900.00 170, 000.00 40, 000. 00 29, 550. 00 25, 000. 00 31, 950. 00 60, 000. 00 74, 000. 00 $434, 650.00' 251, 900. OO 114, .550.00' 35, 000. 00 140, 950.00 39, 250. 00 25, 000. 00 10, 000. 00 10, 950. GO 14,000.00 6, 000. 00 7, 700. 00 12, 000. 00 6, 000. 00 $41,550. 00 $293,000.00 $100,000.00 San F r a n c i s c o Carson '. N e w Orleans A s s a y offices. New York. Denver Helena . Bois6 3,000.00 2, 750. 00 Charlotte Saint Louis Total 3, 500. 00 .... 212,100. 00 648, 000. 00 74, 250. 00^ + $2,000.00 32, 950.00 25, 700; OO +6, 890. 00 2, 000.00 2, 400. 00 1, 000. 00 10, 890. 00' 233, 290. 00 3,000.00 4, 750. 00^ 5,900.00' 1, 096, 390. OO EXPENDITURES. JKints. • Philadelphia....... San Francisco Carson N e w Orleans $41,492 31 $292, 783. 56 $70, 295. 21 §$43, 001. 65 ||$152, 28L 26 41, 840 24 168, 473 69 39, 774. 44 16, 702 88 27, 054 00 11, 643. 29. 31, 901 65 72,675 19 33,193. 23 39,250.00 10,950.00 7, 700. 00 3, 000. 00 23, 578. 50 14, 000. 00 12, 000. 00 8,793.37 4,143. 25 5,471.27 6, 613. 25 1,862.58 2,145. 25 19, 513. 59 $599, 853. 9 ^ 269 60L86 55 400.17" 61,764.99 199, 535. 06« , A s s a y offices. New York'. Denver Helena. :]^ois6 Charlotte Siaint L o u i s 2, 750. 00 3, 403. 94 Total 198, 991. 02 010, 564. 84 183, 935.14 1,099. 70 71,621.87 31, 092. 95- 1, 000. 00 25,171.27 10, 613. 25> 4,612.58 46, OOL 35 233, 559. 84 1, 273, 052; 19^- 6, 549. W * Act of February28, 1878 (20 Stats., 25. t Act of March 3,' 1887 (24 Stats., 611). X Includes $1,890 deficiency appropriation, act of Marcb 30, 1888 (25 Stats., 48). § Frora unexpended balance of appropriation of $54,639.20 for renewal of steam-power plant, ' actof August 4, 1886 (24 Stats., 235). il $143,514.03 ofthis araount was for wages of workmen, and $8,767.23 for contingent expenses^ principally ($8,584.00) for copper for silver dollar alloy. 108 REPORT ON T H E FINANCES. Of the amount specifically appropriated for support of the mints and ^ssay offices for thefiscal year 1888 there remained unexpended the sum of $100,072.58, as exhibited in the following table: U N E X P E N D E D BALANCES O F APPROPRIATIONS, F I S C A L Y E A R Institutions. Salaries. Wages. Contingent expenses. $57. 69 59.76 12, 847.12 48.35 $216.44 L 526.41 32, 946. 00 1,324.81 $29, 704. 79 225. 56 13, 356. 71 1, 806. 77 1, 421. 50 1,206.63. 1, 856. 75 528. 73 . t l 9 . 25 137 42 254. 75 1S88. R e n e w a l of steam-power plant, a n d r e p a i r s of buildings. Mints. Philadelpbia........... . . " ..... "San F r a n c i s c o •Carson N e w Orleans $173.28, A s s a y offices. N"ew Y o r k Denver Helena .... ..... .... 257.50 Bois6 €harlotte Saint Louis 96.06 • Total 13,108.98 37, 692.66 *. 30 '49, 097. 36 173. 58 * Balance of appropriation (24 Stats., 511) for repairs of buildiug at Denver, t Exclusive of $10.75 transferred from appropriation for 1887, carried by Treasury warrant to 1888. The following' table exhibits a comparison of the expenditures of the mints and assay offices during tlie fiscal years 1887 and 1888: COMPARISON o r EXPENDITURES, YEARS 1887 AND 1888. Salaries W a g e s of w o r k m e n . . . . . . ..... •Contingent e x p e n s e s . . . . H e n e w a l of s t e a m - p o w e r p l a n t P h i l a d e l p h i a S t a n d a r d s i l v e r dollar Total 1888. 1887. Appropriations. $192, 907 13 601,787 25 . • 182, 240.66 11,464.27 200,189.02 $198, 991. 02 . 610,564.84 *]86 934.84 43,001.65 233, 559.84 1,188,588.33 1, 273, 052.19 • Includes $2,999.70 for repairs of buildings at Denver and Bois6 City. The expenses of the Bureau of the Mint, comprising salaries of officers :and clerks, and expenditures for examination and annual settlements of mints, for books and incidentals, for maintenance of laboratory, and for collection of statistics of i^roduction of the precious metals, amounted to $34,281.61, against $33,091.97 in the preceding year. Appropriations and expenciitures in comparison with those of the fiscal year 1887 are exhibited in the following' table: 10» DIEECTOR OF T H E MINT. COMPARISON OF E X P E N S E S OF T H E BUREAU OF T H E M I N T F O R THE FISCAL YEARS 1887 AND 1888. t 1887. Appropriations. Salaries of oflQcers and clerks Examination of mints e t c . . . . . . . . . Collecting mining statistics .. Laboratory Books, pampblets, etc .... ... Appropriations. Expenditures. $28, 024.93 2,500.00 4,000.00 1,000.00 500. 00 $27, 958.27 •$27,940.00 1,349. 31 2, 500. 00 2, 290.01 4, 000. 00 999. 70 *1, 290.00 494.68 500.00 $27, 928. 59' 1,295. 50 3 373. 83 1,193. 80489.89^ 36, 230. 00 34, 281. 61 36, 024. 93 Total • 1888. Appropriations. 33, 091.97 Expenditures. 1 * Includes appropriation (25 Stats., 50) for encaustic tile floor, pended. 0, of which $479 was ex- The appropriations for the fiscal year 1889 are as follows: APPROPRIATIONS F O R M I N T S AND ASSAY O F F I C E S , 1889. Institutions. Salaries. Wages of Contingent workmen. expenses. Kepairs of building. Total. Mints. Philadelphia San Francisco . . . . . Carson New Orleans New Y o r k . Denver Helena Bois6 City: Charlotte . . Saint Louis Total $41, 550 41,100 29, 550 31, 950 $293,OCO 170, 000 60, 000 74, 000 $100, 000 40, 000 2.5, 000 35, 000 39, 250 10, 950 7,700 3,200 2,750 3,500 25, 000 14, 750 12, 000 10, 000 6,000 6,000 7,500 2,000 2, 400 211,500 648, 750 233, 900 $434, 550' 251,100' 114, 550 > 140, 950 $1,500 1,500 74,250 31, 700 25, 700 12, 200 4,750 6,900 1,095,650 EARNINGS AND EXPENSES OF R E F I N E R I E S OF MINTS AND THE ASSAY OFFICE AT NEW YORK.. Under the provision of law (paragraph 8, chapter 329, volume 1,. ^Supplement to the Eevised Statutes) which requires that refining-^ *and parting of bullion shall be carried on at the mints of the Uniteci States and at the assay office at New York, and that the charges collected from depositors shall be used to defray the expenses of operations, the refineries of the mints at Philadelphia, San Francisco, Carson, and I^ew Orleans, and of the assay office at New York have been in operation during the past year. The value of charges collected from depositors and carried to credit of the appropriation for parting and refining bullion, amounted to $157,727.4:5, and the gross expenditures to $171,615.39. 110 REPORT ON T H E FINANCES. It is proper to state, however, that the net expenditures of the refineries amounted to only $155,903.16, or $1,824.29 less than the charges. <3ollected from depositors for parting and refining. The amount received from sale of blhe vitriol and spent acid from the refineries, and covered into the Treasury as a miscellaneous profit, was $15,742.23, which, under a decision ofthe First Comptroller, has ceased to be used, since the fiscal year 1885, in offisetting payments for acids. ' Your attention, and that of Congress, was invited in my last fiscal report to the advisability of changing existing law so as to allow of the use of moneys received from sale of by-products from operations of acid refineries, for defraying the expenses thereof, and the legislation necessary to carry this into effect was proposed. The necessity fbr further legislation in this important particular of mint practice and Treasury accounting failed however to receive the attention of Congress. The receipts for parting and refining since July 1, 1876, when -the Oovernment refineries were required to be self supporting, have, however, exceeded gross expenses by $174-,248.15. This was the am-ount standing to the credit of the apprd^priation for parting and refining bullion on July 1, 1888. The charges collected at each'institution from depositors for parting and.refining,bullion, and the gross and net expenses at each during the fiscal year, are exhibited in the following table: CHARGES COLLECTED AND E X P E N D I T U R E S F O R PARTING AND REFINING B U L L ION, 1888. Charges collected. Institutions. Mint at Philadelphia Mint at San Francisco Mint at Carson Mint at New Orleans Assay office at New York Total ...... "J EARNINGS AND E X P E N D I T U R E S ., .. Gross expenditures. Net expendi, tures. $19, 600. 23 43, 625. 57 19, 643.24 561.13 74, 297 28 $10, 505. 85 . 62,135. 97 15, 028. 65 323.14 93, 651. 78 $10, 505.85 50, 262. 80 , 15,028.65 323.14 79, 782. 72 157, 727. 45 171, 645. 39 155,903.16 OF MINTS AND ASSAY O F F I C E S . The total earnings and gains from all sources at mints and assay offices of the United States amounted to $9,788,592.80, while the total Expenditures and losses of all kinds amounted to $1,534,210.11, a net profit in the operations on bullion during the year of $8,254,382.69. It will be understood°tliat the bulk of the earnings consisted of seignorage on silver dollars, subsidiary and minor coins. In the Appendix will be found the usual table exhibiting in detail the earnings at each institution from all sources, and the expenditures and losses of all kinds. CLASSIFIED STATEMENT OF E X P E N D I T U R E S , 1 8 8 8 . There was presented in my report for the fiscal year 1886, for the first time, a classified statement exhibiting the expenditures of the coinage mints and of the assay office at IsTew York. ' In my last fiscal report a similar stateinent was exhibited comprising all the institutions under the control of this Bureau, instructions having been given that the accounts should be so kept that cost-sheets could Ill DIRECTOR OF T H E MINT. beTprepared showing the expenditures for each department and for each class of supplies. At the close of the review in this report of the business of each mint will be found a similar statement. The following eon(iensation of the tabular statements of all the institutions, exhibits their oiDcrations as well as expenditures: E X P E N D I T U R E S AT T H E U N I T E D STATES M I N T S AND ASSAY O F F I C E S DURING THE F I S C A L Y E A R 1888. Supplies, etc. A cids » Adjusting weights and repairing balances . Assayers' materials .; ... Belting Charcoal Chemicals ^... Coal Coke Copper Crucibles Dry goods Fire-brick Fluxes Freight and drayage .'. Gas and electric lighting Gloves and gauntlets Hardware Ice Iron and steel Labor and repairs Lead, sheet and pipe. Loss on sale of sweeps . Lumber Machinery and appliances Metal-work and castings Oils Kent-.i Eepairs of buildings Salt Sewing ;.. Stationery, printing and binding . Steam Sundries Telegraphing Washing L Wastage, barrels and cooperage .. Water 1 .^ Wood..... Zinc Stieam-power plant, Philadelphia.. Total Salaries Wages of workmen , Aggregate. Ordinary. Eefioery. Total. 268. 94 576. 75 808. 29 439. 69 335.14 Oil. 09 260. 05 554. 85 753.00 390.48 118.07 $46, 501. 48 $51, 770.42 15. 20 80. 49 1, 823. 49 544.58 299.78 421. 84 243. 99 916. 38 430.41 683.07 634.21 1, 805. 23 ],839.95 . 515.62 822.92 503. 31 .666.11 573.16 704. 07 440. 00 999. 70 9.13 503. 07 065. 08 653.31 592.76 766.80 363. 97 244. 41 931.20 640. 62 18.13 001. 65 1, 690.23 750. 72 249, 985. 01 198, 991.02 824, 076.16 1, 273, 052.19 575. 75 1, 032. 05 191.08 2,194. 62 4, 819.10 4, 552. 75 1,383.39 69. 32 730.29 267. 28 144. 37 3,523.34 1, 289.84 2, 290.13 1,108. 92 199. 00 620.18 367 19 202.17 454. 57 554.85 572.10 949.23 501.46. 69. 32 349. 81 139.73 937.46 974.28 183.66 * 430.41 727.44 157 55 289. 84 513.15 254. OS 956.24 8, 682. 08 2, 903. 07 440.00 2, 999. 70 282. 34 291.47 193. 80 2, 696. 87 2, 065. 08 6,654.50 14,364.82 !, 001.19 772. 06 766. 80 584. 47 629. 70 761. 33 3, 985. 35 90,104. 64 81, 540. 85 171, 645.39 ' 1,353.97 828. 88 2, 460. 90 15, 301.95 4, 003.48 43, 001. 65 340, 089.65 198, 991. 02 905, 617. 01 1, 444, 697 58 112 R E P O R T ON T H E FINANCES. E X P E N D I T U R E S AT T H E U N I T E D STATES MINTS AND ASSAY O F F I C E S DURINGTHE FISCAL YEAR 1888—Codtiuued. OPERATIONS. Bars manufactured: Gold....,--.Silver $51,765,436.957,547,578.27 Total 59,313,015.22; Coinage executed: Gold Silver Minor 1 •.. Total... 28,364,170.50 •34,136,095.25 1,218,976.57 63,719,242.32 SUMMARY OF OPERATIONS. The value of the gold and silver deposited at mints and assav offices^ of the United State's during the fisoal year 1888 was $122,717,303.12. The amount of bullion operated upon by the melters and refiners of the mints at Philadelphia, San Francisco, Carson, and New Orleans^ and assay office at New York, was as follows :* , BULLION OPERATED UPON B Y MELTERS AND R E F I N E R S , 1888. Standard ounces. Metals. Eeceived. Gold Silver -- - Total ---^ - Operated on. 6, 934,175 71,884,710 6, 361,144 67,446, 226 78, 818, 885 73, 807, .370 The operations of the coining departments of the mints at Philadelphia, San Francisco, and New Qrleans were as follows: OPERATIONS O F COINING DEPARTMENTS, 1888. \ v Standard ounces. Metals. / Eeceived. Gold Silver Total Operated on. 3,474, 589 60,303,345 3, 374, 292 59, 957, 537 63, 777 934 63 331 829 * In another place (p. 160) I have called attention to the terms of section 3542 Revised Statutest The same section affords the only grounds in mint statements for reports of deliveries of bullion to operative officers, as of amounts operated upon. As in mint practice deliveries of bullion to t h e melter and refiner and t h e coiner are usually in excess, and may, a t any given time, be greatly in excess of amounts operated upon, and any excess over t h e latter aniount is returned to t h e superintendent at times of the annual or other settlements, the sum of ^' deliveries" is of no practical moment, except perhaps in case of a question as to the legal allowance for oi)erative Avastage under t h e terms of section 3543. I have accordingly introduced into this report statements ofthe amount of bullion actually operated upon. The legal allowance for wastage, already unnecessarily large, becomes indefinitely extended as long as t h e present statute can be construed to prescribe its computation upon '' deliveries" of bullion rather t h a n the net amount operated upon. 113 DIRECTOR O F T H E MINT. The ainount of gold and silver melted at the mint at Denver and at the assay offices at Boise City, Helena, Charlotte, and Saint Louis was as foliosvs: Standard ounces. Gold Silver 237, 825 83, 666 Total 321, 391 The total operations on bullion in mints and assay offices, were as follows: BULLION O P E R - \ T E D UPON B Y M E L T I N G AND COINING D E P A R T M E N T S OF ALL THE INSTITUTIONS, la88. Standard ounces. Metals. Eeceived. Gold Silver Total O p e r a t e d on. 10, 646, 589 132, 271, 621 9, 973,261 127, 487, 329 142, 918, 210 . 137, 460. .o90 The total value of precious metals wasted in the operations of both the coiners' and melters and refiners' departments was $26,916.53. In addition to the operative wastage on gold and silver there w a s a loss on the sale of sweeps, being the difference between the assay value of gold and silver contained in sweeps recovered and the amount realized from their sale, amounting to $15,644.61. The total loss on operations of gold and silver bullion at mints and assay offices during the year was accordingly $42,59114. . There was, on the other hand a gain of bullion larger than the entire loss. The value ofthe surplus bullion returned during the year by operative officers of coinage mints and the assaY office at NewYork was $39,998.96. In addition, gold and silver in granules and sweeps were recovered from the deposit melting-room of the value of $10,993.55. There was an operative gain, arising from differences in assays and in charges in favor of the small assay offices, on bullion shipped to Philadelphia for coinage amounting to $5,318.45. ' There was also a gain on the sale of plumbic melts at the assa^' office at New York, araounting to $18.27. The total gains thus shown from operations on bullion (not including, of course, any seignorage or proceeds of sale of old materials or byproducts) were therefore $56,329.23, against a loss, as shown above, of $42,591.14, a net gain of $13,738.09. H. Ex. 2 — 8 114 REPOET ON T H E FINANCES. The coinage of the three coinage inints for the fiscal year 1888, numbers and percentages of pieces coined, and mean cost per piece are exhibited in the following table : W O R K OF THREE COINAGE. M I N T S , L o c a t i o n of m i n t . Philadelphia San F r a n c i s c o N e w Orleans Total N e w Orleans Total Number of pieces coined. 88,139, 449 8, 977, 508 I L 913, .500 27 101 630 8, 977, 598 11,913,500 0 10.9 109, 030, 547 48, 052, 728 100 40.8 40.3 18.9 Philadelphia .. .. P e r cent, of P e r c e n t . pieces coined of p i e c e s to w h o l e coined t o number whole n u m - coined, exc l u s i v e of b e r coined ujiiior coius. N u m b e r of pieces coi ued exc l u s i v e of m i n o r coins. P e r cent, of v a l u e of E x p e n s e s for salac o i n a g e of each m i n t to ries, w a g e s , a nd inci v a l u e o f total coinage. d e n t a l s . L o c a t i o n of mint.. 1888. 100 80 9 8,2 56 5 18.7 24.8 V a l u e of $25, 982, 957 25,701,285 12, 035, 000 100. 63, 719, 242 P e r cent. C o s t p e r C o s t p e r E a t i o of of exp e n s e s a t piece, in- p i e c e ex- cost p e r clusive $1,000 to each m i n t clading minor of m i n o r v a l u e o f to t o t a l coinage. coinage. coiuage. expenses. $556, 852 269, 602 199, 535 1, 025, 989' 54.3 26.3 19.4 100 $0. 0003 .03 .017 $0.02 . .03 017 $21.43 10.49 16.58 .... M I N T AT P H I L A D E L P H I A . With sorrow I am called upon to record the death, on March 21,1888, of Dr. James C. Booth, in the seventy-eighth year of his age and the thirty-ninth year of continuous service as melter and? refiner of the mint at Philadelphia, an important and responsible office, which he filled with distinguished honor, unfailing skill, and untiring efficiency. Dr. Booth was succeeded, March 29, 1888, by Dr. David K. Tuttle, melter and refiner of the mint at Carson. Mention was made in my last fiscal report of improvements in the steam motive plant of the mint at Philadelphia, under a special appropriation* of $54,639.20, bat not completed until about the close of the first quarter of the present fiscal year. Incidental to this important improvement in plant, valuable space has been cleared for vaults and other necessaries. Two of the cashier's vaults have been lined with steel and supplied with a double set of Dexter locks. In the same report it was suggested that the Supervising Architect be requested to prepare plans forthe extension of the edifice of the mint at Pliiladelphia, and to prepare estimates in accordance therewith for the consideration of the Department as a basis for such recommendations as it might be found expedient to make to Congress. . On this subject I was led to the following remarks: From the fact t h a t measures for the extension of the ground area of the mint at Philadelphia have repeatedly been presented to Congress without its concurrence, I am bound to assume that no similar proposal would be sufficiently practicable to meet the present exigency in the case of that mint—now the most important miut of the whole service, as always it has been, and as^'constituted by numerous sections of law which have been perpetuated from the period previous to 1873, when It was alone * 24 Stats., 235. DIRECTOR OF T H E MINT. .115 t h e Mint of^ the United States, and all other mints its branches. Indeed, opportunities presented from time to time for the acquisition of ground space for an extension of this mint, at a moderate cost, can hardly be expected to recur. Nor was it considered that such an expedient as the sale of the present very valua,ble site and the purchase of a larger one of less value could receive the approval of C!ongress in time to meet recent emergencies, such lis the necessity for the new steam . plant, erected by authority of Congress during the p ist summer. Notwithstanding tbe recent renewal of steam plant, at a cost of some $55,000, and t.he present exigency for further renewals of a more portable kind, it may not be held t h a t fixed improvements of this description really preclude the subject of change of «ite from further consideration. As alternatives, therefore, from the addition of a third story and the extension of the front basement, it becomes my duty to make •succinct mention of two other expedients which have previously been proposed, namely, (1) the sale of the present very valuable site and purchase of a larger one of less relative value : or (2) the costly acquisition of new ground adjoining the present site. . In accordance with my recommendation, and with estimates prepared by the Supervising Architect, there was included in an act approved October 2, 1888, making appropriations for sundry civil expenses of tlie <jrovernment, an approi)riation, namely, " F o r the United States mint ^ t Philadelphia, Pa.—for an additional story to, and enlarging the building, including vault, alterations, and other necessary work, $220,000." Inadequate as the appropriation is for any measure of enlargement equal to the purpose of an advanced establishment, it is hoped that, judiciously applied, it will prove enough for an enlargement within the narrow limits of the ground space and the present building without radical and complete reconstruction, for which authority has neither been given nor sought. !N"or, for reasons stated in my last report, has the question of another site for the mint at Philadelphia been presented to Congress as ;in alternative from the alteration and enlarg.ement of the present edifice, so singularly wanting in adaptation to the requirements of a manufacturing establisliment in respect to ground space and environments as well as to original construction. • The Supervising Architect of the Treasuiy Department has been charged with the enlargement and improvements under the appropriation, and at the present date has nearly' completed plans for entering upon the work. The business of the mint at Philadelphia has been larger during the past ye^jr than ever, severely taxing the capacity not only of the plant but of the whole establisbment. The value of deposits and purchases of gold and silver-during the j e a r was as folloAvs : DEPOSITS AT THE M I N T AT P H I L A D E L P H I A , FISCAL YEAR Gold.. Silver. Total. 1888. $5, 155, 253. 91 20, 379,189. 89 25, 534, 443.; In addition, minor coinage metal was received of the weight of '6,919,966 ounces. . The total weight ofthe bullion received, gold, silver, and minor coin^ige metal, was about 1,499J tons. The number of assays made in the assayer's department was approximately as follows: Gold.. Silver. 15, 000 44, 000 116 R E P O R T ON T H E FINANCES. Thegoldoperated-uponintiiemelter and refiner's department amounted to 1,129,051 standard ounces and the wastage to 472.325 standard ounces. In the melter and refiner's department 37,311,197 standard ounces of silver was operated on, with a net wastageof 1,918.57 standard ounces.. The number of melts made;in the same department was as follows : Tor ingots. Description. For bars. Made. Gold Silver --- -: . Total Condemned. 184 240 199 12,932 13 78 439 13,116 91 The operations ofthe acid refiner}^ are exhibited in the following table: R E F I N E R Y OPERATIONS F O R T H E YEAR ENDING J U N E 30, 1888. [Divided into periods covered respectively by the late and present melter and refiner.] • Gold and silver r e t u r n e d from r e f i n e r y . Bullion s e n t to refinery. Period. Standard ouuces by assay. Gross weight. J u l y 1,1887, to M a r c h 1,1888.. M a r c h 1,1888, to J u n e 30,1888. Total Gold. Silver. Gold. Silver. Ounces. 502, 757. 8.51 338, 257. 708 Ounces. 142,243.746 101,000.037 Ounces. 388, 377. 29 242,198. 01 Ounces. 142,125.437 101,002.227 Ounces. 387, 643. 99' 242, 932. 56 841, 015. 559 243, 243. 783 630, 575. 30 243,127.664 630 576 55 The operations of the coiner's department were as follows: Metals. Received. O p e r a t e d on. Wastage. S t a n d a r d ounces. S t a n d a r d oimces. S t a n d a r d o u n c e s : 748, 276 747, 8.^)3 48. 359 36, 071, 404 3, 264. 26 35,771,579 Gold Silver The number of coins struck and the nominal value were as follows: Metals. Gold . . . Silver Minor . . Total . . . Pieces. • Value. 3e4, 284 26, 777, 346 60, 977, 819 $5,419 170.50' 19 344 810. 45 1 218 076 67 88, 139, 449 - '>.T 98-> 967 52 As coinage was suspended during July, for introduction of a new steam plant, the monthly average coinage exceeded 8.000,000 pieces, an increase in the production of the mint over that of the i)receding fiscal year of 6,607,058 pieces. DIRECTOR OF T H E 117 MINT. The expenditures for the several classes of supplies, and in the differ <ent departments, are exhibited in the following table : E X P E N D I T U R E S AT THE M I N T AT P H I L A D E L P H I A , General department. . Supplies, etc. Proper. Assayer's Coiner's departdepartMechanment. ment. ical. Acids $200.77 $20.10 25.27 6,981.53 'Coal • 49.11 Freight and drayage. •Qqg Gloves and gauntlets. Ice I r o n a n d steel L a b o r a n d repairs' . . . L o s s on s a l e o f 136. 37 243. 75 33.25 €rucibles, c o v e r s , stirrers, and dippers $18.15 633.03 13.20 , $39. 90 .50 1888. M e l t e r a n d refiner's department. Proper. Engraver's deEefinery. partment. $3,163.41 $4, 967. 73 1,504.51 42.08 2,566.35 11,803.00 $206.28 3.83 • 3, 735.14 36.81 4, 250. 65 3.52 60.75 4.56 201.95 5.57 .24 88.09 4.02 339. 20 488. 04 ^ 114.80 1, 050. 25 5.61 240. 48 19.39 $497. 66 $50. 43 1,466.76 246.00 1, 861.53 312. 53 837.33 32.28 330. 33 7.12 4,610.09 57?. 81 946. 62 . 509. 37 54.69 823. 53 3,510.48 170.9U 1,952.91 148.87 110. 37 172.28 214.20 ].32 170 206. 04 21.88 1, 649. 79 7, 822. 92 5.98 M a c h i n e r y a n d appli$1, 976. 28 M'etal-work a n d castings <3i]s gait Stationery, printing, and binding Telegraphing .3. W^ood 178. 97 744. 76 .32 574 59 3,194. 24 39. 73 115.57 2L88 89.21 47. 49 19.10 .78 .66 173.11 3.32 125. 32 3.00 116.46 161.94 2.00 1,135. 85 533. 74 3, 776.16 765. 60 58 81 , 1, 513. 09 ^ St^am-povs^er p l a n t . . 43, OOL 65 • 244.41 Total. 72, 518. 56 1, 6^0. 62 23, 550. 00 W^ages of w o r k m e n . . 104, 559.58 12, 093. 23 Aggregate 857. 32 13, S63. 03 33,144. 40 • 9, 005. 85 5, 000. 00 5, 000. 00 4, 942. 31 9,553.91 229, 683. 60 73, 619. 21 1, 500. 00 510.16 3, 000. 00 6, 788. 06 200, 628.14 13, 763. 8r 15, 411. 23 248, 046. 63 111, 705. 92 10, 505; 85 10, 298.22 118 . ' REPORT ON T H E FINANCES. E X P E N D I T U R E S AT T H E M I N T AT PI-IIL.\I>ELPHIA, 188S—Continued. SUMMARY. S u p p l i e s , etc. Amouut. Acids Charcoal Chemicals Coal Copper C r u c i b l e s , covers, s t i r r e r s , a u d dippers D r y goods Pluxes F r e i g h t and d r a y a g e Gas ' i, 331. ,802. 841. \ 824. ,803. Gloves and gauntlets Hardware Ice I r o n a n d steel Labor aud repairs L o s s on sale of s w e e p s Lumber , , 795. 9c3. ,680. 7. ,610. 1, 260. ,469. " 619. 864. ,448. I, 472. ., 321. S u p p l i e s , etc. Amount. Machinery and appliances-Metal work and castings $2, 524. 37 3, 788. 68" 1, 354. 88 Oils Salt Stationery, printing, and binding Sundries Telegraphing Washing Wood . • 126..S0579. 595,201.04 39. 73 115. 57 4, 563. 63. 1, 513. 0943, OOL 65^ 244.41 Zinc Steam-power plant Wastage Total 131, 069. 94- Salaries W a g e s of w o r k m e n . 41,492.31 437, 797. 69> Aggregate 610, 359. 84 OPERATIONS. Ears manufactured: Gold Silver 557.7, 319. 48 ' 20, 940. 94 Total 598, 260.42 COINAGE. Metals. Pieces.. Value. • Gold Silver IVriiior - --' . Total . 384, 284 26, 777, 346 60, 977, 819 $5, 419,170. 50 19,344,810.46 1, 218, 976. 57 88, 13P, 449 25, 982, 957. 52 The value of foreign coins deposited during the past year is exhibited in the following table: VALUE O F F O R E I G N COINS D E P O S I T E D AT T H E M I N T AT P H I L A D E L P H I A , F I S CAL YEAR 1888. C o u n t r i e s of c o i n a g e . Costa Uica Great Britain Mexico Spain Gold coin. $195.90 5,261.10 206.44 o S o u t h Africa Japan Mixed Total Silver coin. $1,71L30 350. OS Total. $195.90 5 261 16 1, 917. 74 350 03 5.00 5.00 117.00 663. 98 637. 85 1, 301. 83 6, 449. 42 2, 699.^18 9,148.60. 117.00 DIRECTOR O F T H E MINT. M I N T A T SAN FRANCISCO. The value of deposits of gold and silver at the mint at San Francisco during the fiscal year is exhibited in the following table: D E P O S I T S AT T H E M I N T AT SAN FRANCISCO, F I S C A L Y E A R Metal. . Standard ounces. L 266, 760.479 2, 408, 278. 52 Gold Silver ' 1888. Value. ^ $23, 567, 636.83. 2, 802, 360.43 26, 369, 997. 24 Total The melter and. refiner operated upon 2,603,513 standard ounces oC gold, made 890 melts of gold ingots, of which 3 were condemned, and at the close of the fiscal year- returned to the superintendent .1,103.185 staudard.ounces of gold in excess of the amount with which he was charged. The same officer operated upon 4,675,920 standard ounces of silver during the year, made 2,821 melts of silver ingots, of which 4 were condemned, and returned in settlement a surplus of 1,216 standard ounces. The coiner operated upon 2,592,643 standard ounces of gold, and coined $12,555,000 in double eagles, $7,260,000 in eagles, and $2,995,000 in half eagles; a total of 1,952,750 pieces of gold, of the value of $22,810,000, with a percentage of 47.2 of good coin from ingots operatecj upon. His wastage in g:old was 64.248 ounces. The same officer operated upon 5,135,397 standard ounces of silver., and manufactured 2,304,000 silver dollars, $192,000 in quarter dollars, and $395,284.80 in dimes; a total of 7,024,848 pieces of silver of the value of $2,891,284.80, with a percentage of 47.8 of good coin produced. His wastage of silver w^as 851.91 standard ounces. The business of the melting department of the mint at vSan FranciscO) for a series of years.is exhibited in the following table: AIIELTS OF INGOTS MADE AND CONDEMNED .\T T H E M I N T CISCO FKOM 1874 TO 1888. AT SA?f FR'AN- 0 Gold in got melts'. Silver ingot melts. Fiscal year. Made. 1874 3875 . .' 1876 1877 . . . -. 1878 1879 • -- 1880 1881' 1882 1883 1884 1885 1886 1887 1--'.. . • 1888 Total Condemned. Made. Condemned. 813 925 942 1,141 1, 393 981 931 LOSS . 958 901 767 677 935 958 890 5 13. 6 3 19 4 3 8 8 5 4 1 3 1,086 2, 821 4 14, 245 84 107,103 ' 161 2 2, 618 4,378 9, 454 33,210 10 15 11 13, 610 8 14 12, 789 14 8,104 14 12,617 10,719 7, 509 5, 539 2, 619 38 20 12 1 •H 120 REPORT ON T H E FINANCES. The operations of the coiner's department for a series of years are exhibited in the following table: OPERATIONS I N T H E C O I N E R ' S DEPARTX^IENT O F T H E M I N T AT S A N F R A N CISCO FOR T H E KSIX YEARS E N D E D J U N E 30, 1888. Fiscal years. Coinage. GOLD. P e r cent. Actual waste. Gain. Stand.ozs. S t a n d ozs. 134. 715 120.300 70. 337 47. 018 19 540 47.6 47.2 64.248 f 1882-'83 1883-'84 1884-*85 1885-'86 . 1886-'87 1887-'88 ' „ .. . . . .. . Total aud mean $26, 760. 000 23,543,500 20, 857, 500 27, 080, 000 22, 360, 000 22, 810, 000 • 54.7 54.3 64.7 52 143, 411, 000 436. 618 19 540 SILVER. ]882-'83 1883-'84 1884-'85 1885-'86 1886-'87 1887 '88 : . . . $7, 350, 000. 00 4, 850, 000. GO 2, 908, 799. 70 49, 066. 20 . . . . • 855,812.60 2, S91, 284. 80 . . Total and mean 18, 904, 963. 30 51.5 52.5 ^453. 3 52.8 53.9 47.8 638. 76 618.13 192. 00 ..58 140. 80 851.91 2, 442.18 '. The value of foreign coins deposited at the mint at San Francisco during the year is exhibited in the following table: VALUE OF F O R E I G N GOLD Convs D E P O S I T E D AT T H E M I N T AT SAN F R A N , Cisco, F I S C A L Y^EAR 188:^. . Country. England (Australian sovereigns) England (sovereigns) Mexico Costa Eica France. Mixed foreign coins Mixed foreign and mutilated United States coius Total Value. $3,871,370.95 9, 715. 36 76,802.64 211.55 142.16 18, 900. 07 23, 684. 02 4, 000. 826. 75 DIRECTOR OF T H E 121 MINT. The expenditures of the miut at San Francisco during the year for the several classes of supplies and in the difierent departments are exhibited in the following table: % E X P E N D I T U R E S AT T H E M I N T AT SAN FRANCISCO FOR F I S C A L YEAR G e n e r a l dep ar t m e n t . A s s a y e r ' s C o i n e r ' s departdepart. ment. ment. MechanProper. ical. Supplies, etc. $1, 262. 70 Acids 1888. M e l t e r a n d refiner's department. Proper. $59.10 Refinei^y. $14,858.43 159.40 Bel tiuo- $6.16 ' $295. 26 "Charcoal 85.00 Chemicals Coal Coke •Crucibles, covers, 29.25 4L25 20.08 441. 28 $797. 49 718. 75 107.45 "75. 80 11, 244. 81 1, 332. 35 4, 550. 00 stirrers. D r v ffoods Freight and d r a y a g e . . . . Gas Gloves and gauntlets. Hardware .. - .. Ice IrOn a n d steel 297. 89 1,202.19 2,091.00 121. 50 259.32 463.91 Labor and repairs Lumber 1 2, 324. 33 Machinery aud appliances ... Metal-Ayorh a n d c a s t i n g s Oils Salt 'Sewin »• Stationery, printing, bindin"" Sundries T e l e g r a p h ing Washing 88.45 5.70 120.00 .95 53.15 1,198. 21 382. 93 241.05 88.34 679. 24 95.98 3, 012. 00 411.33 78. 58 11.70 913. 20 15.39 57. 57 Total Salaries W a g e s of w o r k m e n Aggregate 228.28 637. 29 734. 99 14.43 134.12 2, 006. 56 79.00 73.44 20.50 44.90 140. 40 69.11 32. 37 284.15 . 2,655.50 413. 07 154.38 210. 73 67.19 70. 00^ .35.00 147. 52 L50 57. 00 369.30 1, 759. 97 - and Water Wood Zinc • 1.00 418.65 400.27 334. 87 796.25. 400. 00 410.90 21,440.50 2.00 10.50 7.50 110. 00 • 18.00 277. 25 90.00 13.13 255. 33 2, 457.27 6,928.07 11, 861. 28 21, 632, 72 203. 70 2,209.62 5, 045. 23 2,147. 61 25, 24.0. 24 67, 302. 00 6, 600. 00 5, 000. 00 5, 000.00 20, 797. 00 69,948.18 22, 29L 75 30, 503.25 113,982.74 5,045.23 29, 544. 61 81, 876.25 39,153.03 52,136. 97> 122 R E P O R T ON T H E FINANCES. EXPENDITURES AT THE M I N T AT SAN FRANCISCO FOR FISCAL YEAR 1888- CoiitiQued. . Supplies, etc. SUMMARY. Acids Assayers' materials. Belting Charcoal Chemicals Coal Coke Copper Crucibles, covers, stirrers, and dipper.-^ Dry goods , Freight and drayage ^. Gas Gloves and gauntlets. Hard \s are Ice Iron and steel Labor and repairs 180. 23 159. 40 301.42 925. 02 391.33 244. 81 332. 35 550. 00 198.21 963. 20 203.19 091. 00 260. 24 662. 94 463.91 165.'61 215. 50 TotfT tal. Supplies, etc. Total. Lumber , Machinery and appliances Metal work and castings Oils..-. Salt... Sewing Stationery, printing, and binding Sundries Telegraphing ° Washing -. Water Wood. , Zinc Total .$509. 053, 388. 95 2, 715. 94 382. 58 149. 02 2,186.27 446.15 888. 02 334. 87 796. 25 603. 7a 2, 875. 85 2, 470.40' 69,055.41 Salaries Wages of workmen. 41,840.24 210, 842.18 Aggregate 321, 737. 83 OPERATIONS. Bars manu factnred, silver .'-..' Coinage. $526, 674. 02. Pieces. Value. 1, 952,750 $22, 810, 00(). OO 2, 89I,28L80 7, 024, 848 Gold Silver Total 8, 977, 598 26,701,284.80 MINT AT NEW ORLEANS. The amount and v^alue of the gold and silver deposited at the mint at Kew Orleans during the year were as follows : DEPOSITS AT THE M I N T AT N E W ORLEANS, FISCAL YEAR Metals. S t a n d a r d ounces. • 7, 018. 598 9, 784, 038. 60 GoldSilver Total 1888. Value. •' $130, 57?. 5611, 385 064. 09-31,515,642.65 The melter and refiner operated upon 63,071 standard ounces of gold during the year, with a wastage of .331 standard ounce. The same oflficer .operated on 19',487,283 standard ounces of silver, with a wastage of 9,606.29 standard qunces. While the silver wastage of the melter and refiner was larger than usually incurred in the other mints, it was. considerably less than for the preceding year. DIRECTOR ' 123: OF T H E MINT. The coiner operated upon 33,796 standard ounces of gold, and manufactured 13,500 eagles ($135,000). His wastage was 3.362 standard ounces. He. operated on 19,050.561 standard ounces of silver, manufacturing 11,900,000 silver dollars, with a wastage of 2,953.92 standard ounces. The value of the foreign coins deposited at the mint at Few Orleans, during the year is exhibited in the following table: VALUE OF F O R E I G N C O I N S DEPOSITED AT T H E M I N T AT N E W ORLEANS DURING THE FISCAL Y E A K 1888. ' Countries. Gold coins. Central America South America Mexico '. . -.-- E n g l i s h (sovereigns) Peru -• M i x e d foreign .: Silver coins. $522. 68 $208.98 132.13 197.84 29, 125. 61 3, 878. 57 -- 404. 26-- - -- Tol al 6, 702. 66 925.83 1LS0L76 30, 796.81 The expenditures of the mint at ]N"ew Orleans for the several classes of supplies and in the different departments are exhibited in the following table: E X P E N D I T U R E S AT THE M I N T AT N E W ORLEANS F O R T H E F I S C A L Y^EAR 1888. General department. Supplies, etc. Proper. Acids Mechanical. . , Assayer's department. Coiner's department. M e l t e r a n d refiuer's department. Proper. $52. 79 $2.64 Refinery. $267. 7 1 526. 36 IBelting Charcoal $83. 62 Chemicals Coal 60.03 298. 92 3, 600. 00 2, 068. 00 Coke Copper Crucibles, $819. 00 136. 79 8, 400. 00 ( covers, stirrers, and dippers D r y goods F r e i g h t a n d drayao"e. Gas a n d electric lights Gloves and gauntlets Hardware Ice I r o n and- steel Labor and repairs ......... L o s s on sale of s w e e p s . Lumber Machinery and appliances... M e t a l w o r k and c a s t i n g s Oils 1, 75L 38 693.93 338. 08 924.00 ' 18. 28 400. 00 214.50 • $140.48 2, 516. 42 . 393.86 400.00 444. 40 1,131.29 8<o 7 0 107.50 1, 250. 89 20.00 156. 40 1, 338. 90 836. 50 40.44 875. 90 25. 35 1, 420. 09 97.09 488. 60 300.00 1, 563. 88 , 99.00 57L58 297. 66 35.10 124 R E P O R T ON T H E EXPENDITURES AT THE M I N T AT N E W FINANCES. ORLEANS FOR THE FISCAL Y^EAR 1888- Continued. General department. Assayer's department. Supplies, e t c . Meceanical. Proper, •Sewing Stationery, binding printing, i..... and M e l t e r a n d refiner's department. ' Proper. $4.35 372.50 2, 008. 24 88. 50 153.30 , "Sundries 'Telegraphing "Washing Water Wood. i Zinc Coiner's d ej) artm e n t. $38. 34 $140. 35 $168.00 1, 532. 66 370.15 Refinery. 27.00 $500. 00 ^. 2, 963. 87 $14. 99 Total 8, 528. 24 Salaries . AViiges of w o r k m e n ! 7, 547. 79 17,150.00 39, 069.13 64, 747. 37 A2:2:T'ee'ate 7,517.79 1,245.97 10,302.81 15,727.36 5,95L65 3,387.16 4,400.00 60,453.48 4,400.00 21,371.47 10,584.78 75,156.29 41,498.83 323 14 323 14 SUMMARY. S u p p l i e s , etc. Acids i Assayer's materials Belting 'Charcoal Chemicals Coal : '. Coke Copper ; Supplies, etc. ^. $323.14 526. 36 83.62 819.00 49.5. 74 3, 600. 00 2, 068. 00 8, 400. 00 •Crucibles, c o v e r s , s t i r r e r s , a n d 1,75L38 dippers i.>ry goods F r e i g h t and drayage ^Gas a n d electric l i g h t s Gloves and gauntlets Hardware Ice Jlron and s t e e l Labor and repairs.., 1, 032. 01 140.48 2, 515. 42 942.28 393. 86 L 101.20 571. 90 4, 713. 98 . Amount. L o s s on sale of s w e e p s Lumber Machinery and appliances Metal work and castings Oils Sewing Stationery, printing, and binding $40. 44 901.25 3, 283. 97 767. 67 821.36 312.70 372. 50 Sundries Telegraphing Washing Water 3, 949. 39 88. 50 .180. 30 500. 00 Wood Zinc 2,963.87 14.99 Total 43, 675. 31 31, 901. 65 124,281.24 Salaries W a g e s of w o r k m e n Aggregate '. .y 199, 858. 20 OPERATIONS. N o . of pieces. Coinage. 'Gold ^Silver . . . ^ Ttj tal : Value; 13,500 11,900,000 $135, 000 11, 900, 000 11, 913, 500 12,035,000 DIEECTOR 125. OF T H E MINT. MINT AT CARSON. The business of the miot at Oarson during the fiscal year has been* confined to the receipt of gold deposits for payment of value in coin or bars, and to the receipt of silver deposits for bars, the gold contained being paid for in coin when desired. The acid refinery of the mint has been in operation during the yearc The coiner's department was closed. V A L U E OF D E P O S I T S AND OF BARS MANUFACTURED AT T H E M I N T AT CARSQN, FISCAL YEAR 1888. Bars maniir lactured. Deposits. Metals. Gold Silver Total $894, 921. 30 909,890. 21 $89.60''845„357. 86 1,804,811.51 845,447,45 Mr. John H. Dennis became melter and refiner April 14, 1888, succeeding Dr. D. K. Tuttle, who was appointed to the same office at the mint at Philadelphia. The melter and refiner's department operated upon 45,538 standard ounces of gold during the year, with a surplus of 99.940 ounces. The same department operated upon 766,394 ounces of silver, with a surplusof 167.6s standard ounces. The expenditures of the mint at Carson during the year for t h e several classes of supplies and in the difierent <lepartments are exhibited in the following table : N EXPENDITURES AT T H E M I N T AT CARSON M e l t e r and refiner's • department. Proper. Proper. Assayer s Coiner's departdepartment. Mechan ment. ical. Acids Assayer's materials . Belting . . . J Charcoal $3, 237. 53 Chemicals 50. 55 Coal 330. 41 Copper Refinery. $8, 064. 85 15.20 $29. 73 94.30 2.50 $136.47 97.50 F r e i g h t and d r a y a g e . Gas *.. Gloves a n d g a u n t l e t s Hardware . . . Ice Iron a n d steel Labor and repairs . . . 57.10 4.58 11.00 Total. $115.30 297. 56 360.29 569. 24 441.60 107.28 242.88- D r y goods Y^EAR General department. Supplies, etc. Crucibles, cov e r s , s t i r r e r s , a n d dip-., pers F O R T H E FISCAL 553. 66 37.18 / L *$841,718.23 fine silver bars. 555. 65 $8, 064. 8 5 130, 50 29. 73 3, 237. 53 283. 82. 330.41 97. 50 851.22' 397. 47' 2,124. 89441.60' 93.25 178. 26 200. 53 421.14 112. 00 57.10 116. 58'11. OO- 126 REPORT ON THE FINANCES jfixPENDlTURES AT THE MiNT AT CARSON FOR THE^ FiSCAL Y E A R Couriuued. General department. Melter and refiner's de-ijartmeut. Proper. Proper. Supplies, etc. Lumber Metal work and castings Oils Salt Stationery, printing, and bindiuo" Sundries Telegraphing.. Washing Water.. Wood Assayer's Coiner's departdepartment. Mechan ment. ical. Total. Refinery. 36.99 36'99 ':! 217. 95 61. 00 1888— \ 1.00 62.87 272. 90 75.51 151.00 457. 50 3, 677. 09 217.92 6.00 9.50 261. 04 247. 00 435. 87 57.00 10 50 62 87 533 94 75.51 151 00 457. 50 3, 924. 09 Total 10,712.83 16, 702. 88 ;Salaries Wages of workmen .. 17, 807. 00 29. 73 764. 26 3, 573. 00 136. 47 10, 89.7. 85 122 541.14 16, 702. 88 5, 614. 00 4,131. 00 31,185. 00 45, 282. 71 29.73 4, 337. 26 6, 750.47 Aggregate 15, 028. 85 70, 429. 02 Percentage of net expenses to deposits, 2.6. ASSAY OFFICE AT IS^EW YORK. The value of the deposits of gold and silver at the assay ofiice at Hew York during the year was as follows: Metals. Gold Silver --Total . Value. -- -- $46,721,400.52 6, 249,101. 24 52, 970, 501. 76 . The operations of the melter and refiner's department are exhibited an the following table : Metals*. Gold .Silver Received. Standard ozs. 2, 525, 333 5, 243, 421 Operated on. Surplus returned. . Standard ozs. Standard ozs. 809. 336 2, 519, 971 5, 205, 432 1,012.53 127 DIRECTOR OF THE MINT. F'The amount operated on in the acid refinery was 3,703,553 gross ounces, containing 681,392 standard oances of gold and 2,930,498 standard ounces of silv^er. ,The number ot bars made was— • Bars. Metals. • Gold 22, 905 31,149 Silver Total 54, 054 The value of the gold and silver bars manufactured during the year was as follows: Value. Metals. Goid $40, 763,125. 71 Silver 6 057,364.87 Total • ^ 52, 820, 490. 58 There was 1,630,465 pounds of sulphuric acid used in parting operations. There were sold during the year 248,635 pounds of blue vitriol, and 2,389,200 pounds of Avaste acid, for which was received $13,869.06. Old lead and iron were also sold, for which was received ^633.96, making the total amount received for by-products and old material of the melter and refiner's department, $14,503.02. There was 652,713 gross ounces of silver from the refineiy used over in the parting of gold deposits. The business of the assay department was very large,, consisting of assays of gold and silver deposits, as well as of fine gold and silver bars, the whole involving about 117,000 weighings. A large proportion of the silver deposits at the assay office at iJ'^'ew York contained mercury. The difiiculty of humid determinations in this class of deposits has been largely overcome by the use ofthe " Levol '^ ammonia method. A plant of gas furnaces for melting gold deposits was put in during the year, and has proved satisfactory both in convenience and economy. Cornish rolls were placed in the sweep-cellar early in the year. - The artesian well, electric-light plant, and independent steam supply, referred to in my last report as having been introduced, have continued to work satisfactorily. The values of the foreign gold coins deposited at the assay office at New 'York during the past fiscal year are exhibited in the following table!: ' ' 128 REPORT .ON T H E FINANCES. V A L U E OF F O R E I G N COINS D E P O S I T E D AT T H E ASS.AY O F F I C E AT N E W Y^'ORK D U R I N G T H E FISCA^L YEAR 1888. Argentine Republic Austria Costa Rica .England France Do Germany Mexico Do Do.......... Do Peru Russia . Spain Do Do Do Do Do Totiil of e a c b d e n o m i n a t i o n of gold coiu, b y c o u n t r i e s . D e n o m i n a t i o n s of coins. Couutrit'S of coinage. $1,110, 56L 55 43, 360. 36 2,375.14 287,581.28 t) p e s o s . . . . . . Florins . . . . . Mixed Sovereigns.. 20 francs . . . Napoleons .. 20 m a r k s 20 pesos 10 pesos Doubloons.. Mixed 20 soles 5 roubles 25 p e s e t a s . . . Alpbonsos . . Doubloons . . ^ doubloons. Isabellines.. Mixed . . . . . . ...do 100 bolivars . Mixed . . ...do \ . -...:.... U n i t e d S t a t e s of C o l o m b i a . Venezuela Do Various countries :, 668, 962. 08 180, 840. 69 22. 83 8.9^ 2, 849, 802. 77 640, 464. 24 136, 238. 08 8,011.31 6, 479. 49 21, 503. 75 667,131.86 14.404.23 ;, 027, 863.16 31, 030.46 67, 762'. 11 18,184.96 Silver parted (standard ouuces). 171, 232. 63 - 2,549.75 848, 641. 85 13,899. 85. 117. 35 3, 826, 376. 76 2, 593.44 47.91 12.87 17,914.33 763, 063. 48 57.64 867. 92' 2, 350. 69 15, 563. 64 10, 566, 517. 58 Total . The expenditures of the assay ofiice at New York for the several classes of supplies and in the difierent departments are exhibited in. the following table,: E X P E x X D I T U R E S AT T H E A S S A Y O F F I C E AT N E W Y^ORK FOR THE FiSCAL Y E A R 1888. 2 General department (proper). S u p p l i e s , etc. Assayer's departrnent. Melter and reiiuer's department. Total. Refinery. Proper. A d v e r t i s e m e r i t s for s u p p l i e s . . . A.ssayer's m a t e r i a l s B a r r e l s , lard t i e r c e s , a n d c o o p e r a g e . Belting Cbarcoal . . . . Coal Conner . C r u c i b l e s , covers, s t i r r e r s , a n d dippers ' $18, 342. 76 .$379. 22 , 16. 00 A cids Adjusting weights 4, 552. 75 1, 085. 65 1, 474. 90 284. 50 4, 552. 751, 085. 65 1,474.90 288. 00' 80. 00' 152. 00 $9.00 339. 85 2. 79 65. 20 i ^ Freigbt and drayage 584.47 SO. 49 924. 60 112. 78 2,194. 62 4, 721. 60 $18, 72L 98 ?)6.00 152.00 339.85 .581.47 80. 49 924. (iO' 1.15.57 2, 268. 72 4 721.60 , 3.50 ^ DIRECTOR OF T H E MINT. ' ' 129 0 E X P E N D I T U R E S AT T H E ASSAY O F F I C E AT N E W Y^ORK, ETC.—ContiQued. General Assayer's department department'. (proper). Supplies, etc. • Melter and refiner's department. Total. Proper. Refinery.. ^ Gas " Gloves and gauntlets Hardware Ice.. i. Labor and repairs . Lead (slieet and pipe) .. Lumber . . Macbinery and appliances Metal-worli and castings Oils and lard Repairing balances Salt Sewino" . . Stationery, printing, and binding.. Steam Sundries... . Telegrapbin '^ Water Wood Total $495.74 $700.63 3.18 70.52 9.61 233.40 214.10 2, 469. 97 214. 66 5.00 429. 75 Affsresrate 529.70 259. 00 $1, 711. 99 282. 44 32.70 70.52 69.32 1,315.34 1, 289.84 337. 65 4, 974. 76 650.70 163.00 479.75 5.00 193. 80 184. 34 6,654.50 2, 408.29 19.33 529. 70 259. 00 48, 245.18 57, 038. 65 69.32 867. 84 1, 289. 84 337. 65 2, 290.13 65l>. 70 158. 00 50.00 5. 00 193.80 184. 34 653.31 1, 356.74 .19.33 630. 53 6,165.78 Salaries Wages of workmen $515. 62 282. 44 19. 91 2, 627. 59 6, OOL 19 421.02 22, 550. 00 10, 979. 50 11,200.00 $5, 500.00 12, 599. 00 45,406.60 39, 250.00 68,985.10 39, 695.28 26,426. 59 5, 500.00 93, 651. 78 165, 273. 65 OPERATIONS. Bars manufactured: Gold...^ Silver........... $46,763,125.71 6,057,364.87 Total 52,820,490.58 . MINOR ASSAY OFFICES. DEPOSITS, EARNINGS, AND E X P E N D I T U R E S Institutions. Denver Helena Bois6 City Charlotte Saint Louis Deposits. :... . Totals OF M I N O R ASSAY O F F I C E S , Earnings. Expenses. $1, 800, 640.16 1, 353, 546. 42 929,595.17 283, 619.81 154, 504. 60 $5.403.20 4, 994. 62 2, 478. 06 1, 369. 65 774.41 *$31,092. 95 25,171. 27 tlO, 613. 26 4,612.58 +5, 549.19 .4, 521, 906.16 15,019.94 77, 039. 24 Percentage of net expenses to deposits. L4 L5 .8 1.2 3. 0 * Includes $1,999.70 for repairs of building (24 Stats., 511). t Includes $1,000 for repairs of building (24 Stats., 613). X Includes $440 for rent, pending repair of building in wbicb located by act of Feb. 1,1881. H. Ex. 2 9 130 REPORT ON T H E FINANCES. M I N T AT D E N V E R . The business of the mint at Denver, conducted as an assay office, is exhibited, for the fiscal year 1888, in the following table: M I N T AT D E N V E R , 1888. Amount. Items. Deposits.. Earnings.. Expenses* $1, 800, 640.16 5,403.20 31, 092.f5 P e r c e n t a g e of n e t e x p e n s e s to d e p o s i t s , 1.4. * I n c l u d e s $1,999.70 e x p e n d e d for r e p a i r s of b u i l d i n g (24 S t a t s . , 511). The value of the deposits increased $207,348.50, while the percentage •of expenses, including ainount expended for repairs of building, was less than in the preceding year. The expenditures ofthis institution for the several classes of sup\ plies ar^ exhibited in the following table: E X P E N D I T U R E S AT THE M I N T AT D E N V E R FOR THE F I S C A L Y E A R General department. Supplies etc. Proper. Mechanical. Coke C r u c i b l e s , covers, s t i r r e r s , and dippers Fluxes .'. Freigbt and drayage. Gas..... i Hardware Ice Lumber Machinery and appliances.. Oils..... R e p a i r s of b u i l d i n g $21. 00 142.50 17.35 269.10 .40 .75 213. 81 1L05 174.15 116.75 2L55 213. 81 17.96 369. 94 15. 55 90.38 43.30 30.94 459. 00 6.25 25.90 63.27 71.34 52.49 31. 50 8L42 611.90 .50 1, 785. 82 Salt Station ery, p r i n ting, a n d b i n d Salaries W a g e s of w o r k m e n . Aggregate --- .25 .15 122.00 .25 3.75 16.65 1.50 59.39. 768.38 12.98 30.85 35.00 50.00 20.00 1.70 3, 768.34 843.14 358. 26 8, 700.00 6, 260. 01 108.10 18, 728. 35 951, 24 4, 559. 52 Total. $30.00 24.92 . 2L00 142. 50 $24. 92 Belting Coal Total Melter and refiner's department proper. $30.00 Assayer's materials ing Sundries •I'elegraphing Washing Water Zinc Assayer's department. 1888. 180. 40 142. 65 102. 92 768. 06 81.90 31. 50 112. 36 1,484.14 . 16.20 1, 999. 70 .50 59.39 794. 28 12. 98"" 30.85 105. 00 L70 1,173.21 6,142. 95 2, 250; 00 3, 430. 63 10, 950. 00 14, 000. 00 6, 853.84 31,092.95 131 DIRECTOR OF THE MINT. ASSAY OFFICE AT HELENA, MONTANA. The business of the assay office at Helena, Mont., for the fiscal year qs exhibited in the following table : ASSAY OFFICE AT HELENA. Items. Deposits. Earnings. Expenses 1, 353, 546. 42 4, 994. 62 25,171.27 Percentage of net expenses to deposits, 1.5. F The value of the deposits fell off during the year $96,122.73, while the ratio of expenses to deposits remained about the same. I^The expenditures of this institution for supplies are exhibited in the following table: EXPENDITURES AT T H E ASSAY O F F I C E AT H E L E N A FOR THE FISCAL YEAR 1888. Assayer's department. Supplies, etc. Acids... Assayer's materials "Chemicals .. •^^rucibles, covers, stirrers, and dippers. Drv ffooda . . . ..... Freight and dravage ^as Gloves and gauntlets Hardware Ice '. Iron and s t e e l . . . . . . . . . . . . . . . . . . . . . Labor and repairs ;. Machinery and appliances ...... Metal work and castings ^Oils Stationery, printing, and binding ^Sundries Telegrapbing • Wasbing - Water Wood .Zinc Total . . . . . M e l t e r ' s department (proper). $29.45 $29.45\ IOL 65 101 65 7.80 7 80 $358. 55 358. 55 6.25 106 64 627 25 3. 00 14 75 25.95 100. 39 25 95 627.25 11.75 . Total. 14.08 14.08 35.96 35 96 6.38 6 38 267. 48 ' 93. 25 360 73 1, 937.80 5.97 44.95 362.25 2,300.05 310 97 305. 00 44 95 147. 93 147. 93 369.21 61.16 43.00 369 21 51 16 100. 00 100 00 411.51 43 00 411.51 3.30 3 SO 4, 336. 59 L 134.68 5, 471. 27 ^Salaries 6, 450. 00 W a g e s of w o r k m e n 9, 379. 50 2, 250. 00 2, 620. 50 7, 700.00 12, 000.00 19,166. 09 6, 005.18 25 171 27 Aggregate 132 R E P O R T ON T H E FINANCES. ASSAY OFFICE AT BOISE CITY, IDAHO. The business of the assay office at Bois6 City during the fiscal y e a r is exhibited in the following table: ASSAY O F F I C E AT B O I S E C I T Y , 1888. Items. Deposits. Earnings. Expenses $929, 595.17 2, 478. 06 10,613.25 Percentage of net expenses to deposits, .8. * Includes $1,000 expended for repairs of building (24 Stats., 613). As compared with the business of the fiscal years 1886 and 1887, the increase in value of deposits amounts to $807,133.54 and $181,095.55respectively. The business of 1888 was sevenfold that of 1886. The percentage of expenses to deposits has been reduced from I J im 1887 to four-fifths of 1 per cent, duringthe fiscal year 1888. The expenditures ofthis institution for supplies are exhibited in the^ following table: E X P E N D I T U R E S AT T H E ASSAY O F F I C E AT* B O I S E C I T Y F O R T H E FISCAL YEAR. 1888. Sripplies, etc. Amount. ^ Acids , Assayer's materials.. — Charcoal Cbemicals Coal Coke Crucibles, covers, stirrers, and dippers Dry goods , Eluxes .". Ereight and drayage Gloves and gauntlets Hardw are Ice Labor and repairs Lumber \ Oils.. Repairs of building , Stationery, printing, and binding Sundries Telegraphing and telepbone rent Wasbing Water Wood $101. 29 294. OO 562. 50 23. 98 'l2L 00 12. 00 50.77 17.47 72. 50^ 156. 73 13.75^ 83.36 35.009.75 30.64 60. 60 1, 000. 00^ 44.54 145.0079.62 18.00 125. 00 241. 00^ Total Salaries Wages 3, 297. 60 3, 000. 00> 4, 315.75 Aggregate .' 10,613.25 133 DIRECTOR OF T H E MINT. ASSAY OFFICE AT CHARLOTTE, N. C. The business of the assay office at Charlotte, IST. C , is exhibited in 4he following table : < ASSAY O F F I C E AT CHARLOTTE, 1888. Items. Deposits Earnings Expenses Amount. $283, 619..81 1, 369. 65 4, 612.58 ; Percentage of neb expenses to deposits, 1.2. The value of the deposits at this institution was greater than in the ^preceding year by $59,393.46, while the percentage of expenditures to 'deposits was reduced from 1.6 in 1887 to 1.2 in 1888. The expenditures of this institution for supplies are exhibited in the if olio wing table: , EXPENDITURES AT T H E ASSAY O F F I C E AT CHARLOTTE Y E A R 1888. Supplies, etc. Acids A8sa3'^er's materials Charcoal ^ Chemicals Coal •Crucibles, covers, stirrers, and dippers Dry goods Fluxes Freight and drayage ' Gas Hardware ; Ice Xabor and repairs vLumber .' Metal-work and castings , Sewing "Stationery, printing, and binding ... -Sundries "Telegraphing • "Water Wood Total -S-alaries Wages Aggregate FOR THE FISCAL Amount. $5.25 212.57 87.40 41.95 43.75 178. 01 15..50 67.28 10.96 66.75 21.25 8.88 38.40 4.38 12. 25 4.10 10.95 39.70 65.10 40.00 63.00 1, 037.43 2, 750.00 825.15 4, 612.58 134 REPORT ON T H E FINANCES. ASSAY OFFICE AT SAINT LOUIS, MO. The business of the assay office at Saint Louis during the year is^ exhibited in the following table: ASSAY O F F I C E AT SAINT L O U I S , M O . , 1888. Items. Amount. Deposits.. Earnings.. Expenses . $154, 504. 60 774.41 5, 549.19 Percentage of net expenses to deposits, 3. The value of the deposits at this institution was greater than in the preceding year by $41,555.66, while the ratio of expenditures to deposits was reduced from 3.9 per cent, in 1887 to 3 per cent, in the pastfisca!> year. . • E X P E N D I T U R E S AT THE ASSAY O F F I C E AT SAINT L O U I S FOR THE F I S C A L YEAR 1888. Supplies, etc. Acids Assayer's materials Charcoal Chemicals Crucibles, covers, stirrers, and dippers Dry goods Fl uxes Gas Hardware ... Ice Iron and steel Labor and repairs , Oils ...: Rent Salt Stationery, printing, and binding , Sundries Washing Total ...: 29.16. 9.00. . 90> , . 32. 05 .6011. 50105.303.15- e.eo2.6544.60> 2. 50' , 440.00 .1^ 4.82. 35.9519. op760. 25 Salaries Wages 3, 403.941, 385. 00- Aggregate 5, 549. W' ANNUAL TRIAL OF COINS. The following-named gentlemen were designated by tlie President ol the United States to examine and test the fineness and weight of coins reserved by the several mints during the calendar year 1887, as required by seiction 3547 of the Eevised Statutes: Zebulon B. Yance, United States Senate5 Thomas M. i^orwood, House of Representatives; George ' DIRECTOR OF THE MINT. 135 F. Becker, San Francisco, Cal.; C. Elton Buck, Wilmington, Del.; Charles B. Dudley, Altoona, P a . ; W. P. Lawver, Bureau of the Mint, Washington 5 J. W. Mallet, University of Virginia, Ya.; Alfred M, Mayer, Hoboken, IST. J.; Frank Nicholson, Saint Louis, Mo.; John M. Ordway, Kew Orleans, La.; Charles S. Peirce, Milford, Pa.; Charles E. Pellew, New York, K. Y.; Eaphael Pumpelly, Newport, R. I.; David K. Tuttle, Carson City, Nevada; Henry F. Wild, Bois6 City, Idaho. The ex officio members present were Judge William Butler, of the United States district court for the eastern distiict of Pennsylvania, and Herbert G. Torrey, assayer of the United States assay office at New York. The Commission met at the mint at Philadelphia Wednesday February 8,1888, and in the presence of the Director of the Mint proceeded to test as to fineness and weight the gold and silver coins reserved at the mints at Philadelphia, San Francisco, and New Orleans during the calendar year 1887. The commiittee on weighing reported that an examination of the coins reserved showed that all the coins tested were correct within the limits of deviation allowed by law. The committee on assaying reported that the average fineness of 65 pieces of gold executed b y t h e mint at Philadelphia, melted'in mass, was .900 [standard], and of 5 pieces tested singly, .90016; of 44 pieces of gold executed by the mint at SanFrancisco, melted in mass, the average fineness was .8999, and of 24 pieces of gold coined at the same mint, tested singly, .89995. The average fineness of 110 silver dollars coined at the mint at Philadelphia, melted in mass, was .8998, and of 22 pieces assayed in tests of 2 x^ieces, .8995. The average fineness of 931 dimes coined at the same mint, melted in mass, was .900 [standard;], and of 16 pieces assayed in tests of 2 pieces, .89956. The average fineness of 50 silver dollars coined at the mint at San Francisco, melted in mass, was .8998, and of 10 pieces assayed in tests of 2 pieces, .89976. ,The average fineness of 821 dimes coined at the same mint was .8998, and of 8 pieces, assayed in tests'of 2 pieces. .89977. The average fineness of 120 silver dollars coined at the mint at New Orleans, melted in mass, was .9004, and of 24 pieces coined at the same mint, assayed in tests of 2 pieces, .89953. The committee on assaying reported that *^^'no coin among those examined was found to deviate from the standard fixed by law beyond the legal tolerance." The result of the examination and test as to weight and fineness of the coinage of the United States is embodied in the following resolution adopted by the Commission : Besolved, T h a t t h e Assay Commission of the several mints for the year 1887, from the standard fin^iiess and weight the trial is considered and reported as having examined and tested the reserved coins and it appearing t h a t these coins do not differ hy.a greater quantity than is aHowed by law, satisfactory. I t will be seen that the result of the annual trial of coins was satisfactory, and that the coinage of the year was found to have been close to the standard fixed by law. VALUES OF FOREIGN COINS. In accordance with the requirements of section 3564 of the Revised Statutes the values of the standard coins of the principal countries of the world were estimated by me and proclaimed by the Secretary of the Treasury January 1, 1888. 136 R E P O R T ON T H E FINANCES. ' These estimates, to be followed at custom-houses of the United States during the calendar year 1888, in determining values of invoices expressed in terms of foreign units of account, are shown in the following table: ESTIMATE OF VALUES OF F O R E I G N COINS. Country. Standard. A rgentine Republic . Double Monetary unit- Peso Par of exchf equivalent in terms o gold dollar IfOTE.—Tbe " standard" of a given country is indicated as follows, namely : Double, where its standard silver coins are unlimited legal tender, tbe same as its gold coins ; single gpld or single silver, as its standard coins of one or tbe other metal are unlimited legal tender.' The par of excbange of the monetary unit of a country with a single gold, or a double, standard ,is fixed at the value of the gold unit as compared with theUnited States gold unit. I n t h e ' case of a country with a single silver standard, the par of exchange is computed at the mean price of silver in the London market for a period commencing October 1 aud ending December 21, 1887, as per daily cable dispatches to the Bureau of the Mint. $0. 965 .345 Austria Sin<^le silver Elorin Belgium Double Franc.......... .193 Bolivia Brazil Single silver Boliviano Single gold . Milreis of 1,000 rei 3. Single gold . Dollar .699 .546 Briti.sli Possessions, >'.A. Chili Double Peso Cuba Double Peso Denmark Ecuador Single gold . Crown Single silver Sucre E'-'vpt Single gold . P o u n d (100 piasters). France Double Geiraan Empire Great Britain Sino"le gold Mark Single gold . Pound sterling • - Franc • Drachma Greece Double G uatemala Hayti Honduras Sin O'lO silver Peso Gourde Double Sihgle silver Peso Coins. Gold: argentine ($4,824) and ^ argentine. Silver: peso and divisions. Gold: 4 florins ($1.9''9), 8 florins ($3,858), ducat ($2,287) and 4 ducats ($9.158). Silver: 1 and 2 florins. Gold: 10 and 20 francs. Silver: 5'francs. Silver: boliviano and divisions. Gold : 5,10, and 20 milreis. Silver : 1,1, and 2 milreis. 1.00 .912 Gold: escudo ($1,824), doubloon ($4,561), and condor ($9,123). Silver: peso and divisions. .926 Gold: doubloon ($5,017). Sil ver: peso. .268 Gold : 10 and 20 crowns. -.699 Gold: condor ($9,647) a n d double-condor. Silver: sucre aud divisions. 4.943 Gold: pound (100 piasters), 50 piasters, 20 piasters, 10 piasters. and 5 piasters. Silver: 1,2,5, 10, and 20 piasters. .193 Gold : 5,10, 20, 50, and 100 francs. Silver: 5 francs. .238 Gold : 5,10, and 20 marks. 4. 866i Gold: sovereign (pound sterling) and I sovereign. .193 Gold: 5, 10, 20, 50, a n d 100 drachmas. Silver: 5drachmas. .699 Silver : peso and divisions. .965 Silver: gourde. .699 Silver: di%dsions of peso. ' 137 DIRECTOR OF T H E MINT, ' Standard. Country. India Monetary unit: • .. Single silver Eupee of 16 annas. Lira Double Italy Par of excl lange or equivaler t value in terms of U. S. gold dolkir. ESTIMATE OF V A L U E S OF F O R E I G N COINS—Continued. .332 .193 Japan Double* ^... .liiberia Mexico Single gold . Dollar Single silver Dollar .997 .753 1.00 .759 l!f etberlands Double Florin .402 Nicarao'ua Norway , . Peru Portugal .. Spain (Gold. Peso Crown Sol Milreis of 1,000 reis. Single silver Rouble of 100 copecks. .699 .268 .699 1.08 Peseta of 100 centimes. Single gold . Crown Franc Double .193 Single . . . Single Single Single Russia ^ 7 « ° - l Silver silver gold,. silver gold . Double Sweden Switzerland Tripoli Turkey United States of Colombia. Venezuela .559 ..268 .193 Single silver Mabbub of 20 piasters. Single gold . Piaster .63 Sino'le silver Peso .699 Single silver Bolivar .14 .044 • Coins. Gold: mohur ($7,105). Silver: rupee and divisions. Gold : 5, 10, 20, 50, and 100 liras. Silver: 5 liras. Gold : 1, 2, 5,10, and 20 yen. Silver: yen. Gold: dollar ($0,983), 2h 5, 10, and 20 dollars. Silver: dollar (or peso) and divisions. Gold: 10 florins. Silver: h, 1, and 2^ florins. Silver: peso and divisions. Gold: 10 and 20 crowns. Silver: sol and divisions. Gold : 1, 2, 5, and 10 milreis. Gold: imperial ($7,718) and ^ imperial! ($3,860). Silver: i, I, and 1 rouble. Gold: 25 pesetas. Silver: 5 pesetas. Gold: 10 and 20 crowns. Gold: 5,10, 20, 50, and 100 francs. Silver: 5 francs. Gold: 25, 50, 100, 250, and 500 piasters.. Gold: condor ($9,647) and double-condor. Silver: peso. Gold : 5,10,20, 50, and 100 bolivars. Silver: 5 bolivars. * Gold the nominal standard ; silver practically the standard, t Coined since January 1, 1886. Old half-imperial — $3,986. The average price of silver in London for the period commencing October 1, 1887, and ending December 24, 1887, was 44.0876 pence per ounce, British standard, equivalent at the par of exchange to $0.96645, per ounce fine, a decline of $0.0389 from the average price for the corresponding period of the preceding year. This decline in the price of silver occasioned a change in the estimated values given the following, ooins: 138 REPORT ON T H E FINANCES. CHANGES I N VALUES OF F O R E I G N COINS FROM 1887 TO 1888. Coins. Florin of Austria Boliviano of Bol ivia Sucre of Ecuador Kupee of India •. Ten of Japan Dollar (or peso) of Mexico . . Sol of Peru Eouble of Eussia Mabbub of Tripoli Dollar (or peso) of Colombia Bolivar of Venezuela Value Jan. 1, 1888. 1.345 .699 .699 .332 .753 .759.699 .559 .630 .699 .140 It may be proper to state that the change in the bolivar of Venezuela from $0,193, corresponding to the value of the French franc, to S0.14 on the .1st of January, 1888, was occasioned by the change upon the part of Venezuela from the double to the single silver standard. In the Department circular of values of foreign coins the value of the pesos of Guatemala, Honduras, and ISiicaragua, the same for the three countries, was estimated for the first time January 1,1888. Efforts have been made at the instance of this Bureau by the Department of State to obtain definite iniormation in regard to the monetary unit, or money of account, of Tripoli, but so far the information has not been satisfactory. The values of the gold and silver yen of Japan were again estimated separately for the reason, as stated in my last report, that while the standard of Japan by law is gold, silver is practically the standard, and invoices of merchandise from Japan are generally in terms of the silver yen. ' In response to a resolution of the Senate dated April 30, 1888, requiring the Director ofthe Mint to furnish certain information relative to the annual estimate of values of foreign coins prepared by him under the provisions of section 3564 of the Kevised Statutes, the following letter with part of its appendix was communicated to the Senate May 7, 1888, when it was ordered to lie on th'e table and be printed (MiSo Doc. No. 106): T R E A S U R Y DEPARTMENT, BUREAU OF THE M I N T , Washington, D. C.,May 4, 1888. SIR : I have the honor to acknowledge the receipt of Senate resolution dated April 30, 1888, as follows: ' . ^^Besolved, That the Director of the Mint be, and he is hereby, directed to furnish the Senate with the cijcular values of foreign silver coins prepared by him under the provisions of section 3564 of the Revised Statutes, and to inform the Senate o f t h e exact amount of pure silver in each of the silver coins named in said circular, and ailso to inform the Senate avhether the values of such silver coins as designated in said circular are estimated by him according to the pure silver contained in them respect-' ively." Along with the last circular of this Department, proclaiming, in accordance w i t h section 3564 of the Revised Statutes, the values of foreign coins, expressed in the money of account of the United States, in terms of which invoices of foreign merchandise are commonlj^ expressed, I have t h e honor to submit, in conformity to the above resolution, a table o f t h e number of grains of pure silver contained in each foreign silver coin mentioned in the circular referred to. In estimating the values of foreign coins in the case of countries of a single silver standard the values of the monetary units, and consequently of the silver coins, are DIEECTOK OF THE MINT. 13& determined by ascertaining the m a r k e t value of the pure silver in such units, based upon the mean price of silver in the London market for a period commencing October 1 and ending December 24 last preceding, as per daily cable dispatches to the Bureao of t h e Mint. I n t h e case of countries having the double standard t h e value of t h e bimetallicp a r is ascertained by comparing t h e amount of pure gold in a given u n i t w i t h th© p u r e gold in the unit o f t h e United States. Respectfully yours, ' ; ' J A S . P . KIMBALL, Director of the Mint, The P R E S I D E N T PRO TEMPORE O F T H E SENATE. N U M B E R O F GRAINS O F P U R E SILVER CONTAINED I N E A C H OF T H E S I L V E R COINS N A M E D I N T H E CIRCULAR OF J A N U A R Y 1, 1888 ( T R E A S U R Y D E P A R T MENT). Country. Argentine Republic Austria Belgiurd Bolivia Brazil Chili... Ecuador J^gypt France Greece Guatemala Hayti Honduras India Italy Japan Mexico Netherlands Nicaragua Peru Bussia Spain Switzerland Tripoli TJnited Sta,tes of Colombia Venezuela Silver coins. Peso (divisions) 2 florins Florins '. 5 francs Boliviano (divisions) 2 inilreis 1 Milreis . > (limited tender) ^ milreis ) Peso (divisions) Sucre (divisions) 20 piasters 10 piasters .5 piasters 2 piasters 1 piaster ' 5 francs 5 drachmas Peso (divisions) G ourde Peso (divisions) .....* Rupee ^ rupee, 5 lire Ten Dollar (divisions) 2^ florins 1 florin ^ florin Peso (divisions) Sol (divisions) Rouble ^rouble i rouble 5 pesetas 5 francs Mabbub Peso (divisions) 5 bolivars Grains of pure silver contained. 347.22 342. 932 17L466 347.22 . 347.22 360.725 180.361 90.180'' 347. 22 347.22 360.080' 180. 040 90. 02O 36.008 18. 004 347. 22 . 347. 22 347. 22 347.22 347.22 165. 00 82.50 347. 22 374.40 377.17 364.581 145.832 72. 916 347.22 347.22 277. 71 138.8& 69.42 347. 22 347.22 313. 20 347.22 347. 22 140 R E P O R T ON T H E FINANCES. The estimate of values of foreign coins appended to the above communication is cited on a precediog page of this volume (p. 55), The following is a transcript of Department Circular No. 11, division of custoins, dated January 16, 1888, addressed by the Secretary ofthe Treasury to collectors of customs and others: ' ' T h e Department, by its decision of October 16, 1886, by the advice of the Director of the Mint, prescribed t h a t t h e Shanghai tael should be t a k e n at the value of f 1.1094 for custom-house purposes. I t has, however, been claimed t h a t such valuation is excessive at the present tirae, and the matter was again referred to the Director of the Mint for investigation, who reports, under date of the 12th instant, t h a t t h e value of the Haikwan, or customs tael of China, based on the same price of silver t h a t was used iu estimating t h e values of foreign silver coius proclaimed in t h e circular of J a n u a r y 1, 1888, is Sl.1505, aud t h a t the values of the local taels of the various Chinese ports, based on the same valuation of silver, are as follows: Amoy 11.0459 Ki k i a n g . . . . $1.0822 Canton 1. 0354 New, C h w a n g . . 1.0604 • •CheFoo 1.1020 Ning-Po . . , . . 1.0866 ^Chin Kiang 1.10,39 Sh an ghai 1. 0328 Foo-Chow 1.1340 Swatow .1.0459 Hankow 1.0579 Tien-tsin 1.0957 These values should be adopted by customs ofQcers for the respective taels mentioned in all cases of liquidation of entries and importations made after the date of these instructions." The following memorandum relative to the tael of China is here appended: The Chinese Covernment coins neither gold nor silver money. The only coins struck in the Empire consist of copper and zinc, called ^' cash." These are of various sizes and issues, very many of which, from 2,000 to 3,000, equal the value of a tael. The tael is not a coin but a weight. Originally a measure of weight, -as representing a given quantity of fine silver, it has become the measure of value. All payments, in silver coin or bullion, are determined by weight as compared with the ideal tael. the fineness of foreign coins •being determined by Chinese assay. Hence the tael has become the unit of account of China. As a weight the tael is divided thus: 1 t a e l ^ l O mace, =100 candarenes, = 1 , 000 cash. As a unit of account, its divisions are reckoned in cents, 100 cents equaling 1 tael. By the treaties of commerce of ]N"ovember 15, 1858, the Ideal tael was to weigh 583.20 grains and to consist of sycee (pure) silver. As a matter of fact, it weighs only 579.84 grains, and its fineness, as •determined by fifty-two assays made at the Japanese imperial mint at Osaka, varies from .9845 to .9865, the greater number of pieces tested, being .9855.* iTot only does the ideal tael not correspond in weight and fineness with the standard fixed for it, but taels differing in weight and fineness are employed for local purposes in nearly all the ports of China. Mr. Williams, in the fifth edition of the Chinese Commercial Guide, remarks that, at Peking, he found five scales, in which the taels differed as follows: 548, 541, 552, 539, and 579 grains. On January 15, 1874, Dr. Henry R. Linderman, Director ofthe Mint, addressed a communication to Mr.^ S. Wells Williams, secretary of * Letter of German consul at Canton: Report of Director of Mint, 1878, p . 40. Memorandum on Currency of China, by Minister George F . Seward, in Foreign Relations of the United States, 1878, p. 136. DIRECTOR OF THE MINT. 141 legation at Peking, requesting information in regard to the different kinds of taels in use in China, the weight of each kind ingrains, the fineness or contents in pure metal of each kind, and the kind of tael most in use. Mr. Williams, after conference with the different consuls in Chinay' transmitted, under date of September 21,1874, to Director Linderman, answers from six consuls at different ports of China, with the following remarks:* You will perceive, from a comparison ofthese six reports, ho vv confused and'uncertain is the real value of the Chinese tael, the monetary unit. I have only a faint expectation t h a t these six reports will help you to arrive at a definite decision as to the real value ol the Chinese tael. In 1878 Mr. Greorge F. Seward, then United States minister at Peking, addressed to the United States consuls in China communications relative to the trade dollar, incidentally touching on the subject of the weight and fineness of the Chinese tael.f The taels, however, more commercially .important, are, first, the Haikwan tael, that in which all customs dues are payable, and the Shanghai (Chauping) tael, used at Shanghai in ordinary mercantile transactions and exchanges with foreign countries. ^ wn] I t is generally ,agreed that the weight employed by the Chinese Government in collecting revenue, commonly known as the Haikwan tael, is about 580 grains, and the actual fineness of sycee, or Haikwan silver, about .9855. Mr. Williams, in his Chinese Commercial Guide, page 274, gives the weight of this tael as 579.84 grains. Minister Seward places it at 579.84 grains. I In his Memorandum on the Currency of China, § he says: The inspector-general of customs has given me a memorandum on the weight and iineness of the Haikwan tael. According to this it should weigh 1 ounce 4 pennyweights 3.84 grains troy, say 579.84 grains (misprinted 589.84), or 37.578 grams. In reply to the interrogatory from the Bureau of the Mint in respect to the standard of value in China, the secretary of the United^ States legation at Peking says, under date of March 16, 1886: The silver tael, according to the Treasury standard (Kuping), is absolutely pure. The weight of this tael is 579.84 grains. || Taking, then, the actual weight of the Haikwan tael to be about 580 grains (579.84), and its fineness the "average of the results obtained by the aissay of sycee silver at the Japanese mint, viz, .9855, the quantity of pure metal contained in this tael would be 571.43 grains. At the value of silver used in estimating the values ol foreign coins in the circular of January 1, 1888, namely, $0.96645 per ounce fine, the value of the Haikwan tael is $1.1505. The Shanghai (Chauping) tael is reckoned in the proportion of 100 Haikwan taels to 111.4 Shanghai taels.1] Accordingly, the Shanghai tael contains about 513 grains (512.95) of pure silver, which, at the price used in estimating the values of foreign silver coins in the circular of January 1 of the present year, namely, $0.96645 per ounce fine, would give the value of the Shanghai tael at $1.0327. * Report of Director of the Mint, 1875, p. 90. t Report of Director of the Mint, 1878, p. 38. t Report of Director of the Mint, 1878, p. 38. § Foreign Relations of the United States, 1878, p. 136. II Report of Director of the Mint, 1886, p. 236. il Memorandum on Currency of China, United States Consular Reports, 1878, p. 135» Report of Director of the Mint, 1875, p. 90. '^Arbitrages et Parit^s," Ottomar Haupt, Paris, 1887, p. 259. 142 REPORT ON T H E FINANCES. The following table exhibits -the values of the different taels of the Chinese ports, based upon the value given the Haikwan tael. In ara?iving at these values the ratios established between the various local taels and the Haikwan tael, as communicated by the secretary ofthe United States legation at Peking, under date of March 16, 1886,* have been used. These ratios agree exactly with the equivalents given by Ottomar Haupt in his''Arbitrages et Parit6s," 1887, p. 258. VALUES OF LOCAL TAELS. [Based on value of Haikwan (customs) tael, $1.1505.] Name of port. Amoy 'Canton •Che Foo — Clhin Kiang Poo Chow .. Hankow — Valueof tael. $1.0459 1.0354 1.1020 1.1039 L 1340 1. 0579 Value of tael. Ifame of port. Kikiang: New Chwan. Ningpo Shanghai . . . Swatow Tientsin — $1. 0822 i. 0004 1. 08G6 1.0328 1. 0459 1. 0957 The Bureau of the Mint has been called upon, at various times, to estimate the value of the Chinese tael'for customs purposes. On May 12, 1875, Dr. Linderman,in a-communication addressed to the Secretary <if the Treasury, estimated the value of the Haikwan (Haikuan) tael, ^nd also transmitted a table exhibiting the values at six of the principal ports of the various taels, at the different rates of exchange then ruling. In this communication Dr. Linderman took the weight of the Haikwan tael at 579.84 grains and the fineness at ,980. " April 18, 1879, Director Burchard, in a communication addressed to the Secretary ofthe Treasury, estimated the value of the Haikwan tael, taking its weight to be 579.84 grains and its fineness .980, the same as Director Linderman. In a communication addressed to the Secretary of theTreasury April 27, 1881, Director Burchard estimated the value of the Shanghai tael l)ased on the market price of silver at that time. In this calculation he took the Haikwan tael to weigh 579.84 grains and its fineness at .9855, and, relatively, the value of the Shanghai to the Haikwan to be 111.4 Shanghai taels to 100 Haikwan taels. March 10,1885, Director Burchard again estimated for the Secretary of the Treasury the value of the Shanghai tael, based on the price of silver used in estimating the values of foreign silver coins January 1, 1885. In this valuation he took the amount of pure silver contained in the Shanghai tael to be 512.95 grains, the same as before. On October 14, 1886, the value of the Shanghai tael was estimated l3y me at the value of silver used in estimating the values of foreign ; silver coins January 1, 1886. In this calculation the weight of fine silver contained in the Shanghai tael was taken at 512.95 grains. REGULATIONS GOYERNING T H E TRANSACTION OF BUSINESS. As mentioned in my last fiscal report, the edition of the Eegulations Governing the Transaction of Business at the Mints and Assay Offices of the United States in force at the date of my entry upon the duties of Director of the Mint was dated 1881. For the purpose of * Report of the Director of the Mint, 1886, p . 236. v DIRECTOR OF THE MINT. ' 143 tembodying all the regulations a new edition was issued, to take effect April 1,1887. , , ^ Attention was also directed to the fact that another edition, embodying still later regulations, was in course of preparation. This has since been issued. • IMPORTS AND EXPORTS OF GOLD AND SILVER. In the Appendix will be found the usual tables showing by months and by customs districts imports of coin and bullion into the United States during the fiscal year 1888, and exports for the same period. Tables will also be. found showing the imports of gold and silver ores. The value ofthe gold bullion imported into the United States during the year was $17,180,332. All of this was foreign, no bars of gold bearing the stamp of a United States mint or assay office having been re-imported during the year. ' ' Foreign gold coin was imported of the value of $21,572,472. The total importation of foreign gold coin and foreign gold bullion was $38,752,804. There was exported gold bullion of domestic production $9,348,685, and re-exported of foreign gold coin $5,816,150. Of United States gold coin the imports amounted to $5,181,513 and the exports to $3,211,399. ' There was a net gain of gold to the United States by imports of bullion and coin over exports of $25,558,083. The movement of gold to and from the United States during the year is exhibited in the following table: MOVEMENT OF GOLD, FISCAL YEAR, 1888. mpORTS; $17,180, 332 21, 572, 472 Bullion Foreign coin Total TJnited States coin 38, 752, 804 5,181, 513 .... ... Total bullion and coin -- - 43, 934, 317 . EXPORTS. Domestic bullion.. Foreign coin Total Unitfed States coin - -- 9, 348, 685 5, 816,150 - >. 3. Total bullion and coiu Excess of imports 15,1C4, 835 3,211,399 18, 376, 234 25, 558, 083 There was imported into the United States during the year foreign silver bullion of the commercial valueof $5,619,006. ]S"o bars of silver bearing the stamp of a United States mint or assav office were imported. Foreign silver coin imported was of the value of $9,478,084. The total value bf foreign silver bullion and foreign silver com imported was $15,097,090. In addition, foreign silver ores were imported, principally from Mexico, containing silver of the commercial value of $5,115,563. The total value of foreign silver bullion, silver coin, and silver ores imported was $20,514,232. Domestic silver bullion was exported of the commercial valueof $20,563,956, and foreign silver coin, principally Mexican dollars, shipped" 144 REPORT ON T H E FINANCES. *from the port of San Francisco to China, to the amount of $7,370,549. Foreign silver bullion was re-exported of the value of $31,980. The total value of exports of domestic silver bullion and of foreign silver coin and foreign silver bullion was $27,966,485. United States silver coins were imported during the year of the value of $306,579, of which $240,973 consisted of subsidiary coin, and $65,606 of trade-dollars. United States subsidiary coin was exported during the year of the value of $71,464. Ores, gold and silver bearing, distinctively manifested as such, and produced in the United States, were exported during the year of the value of $107,878, and a small quantitv of foreign silver ores re-exported of the value of $683. The excess of exports of silver bullion, silver coin, and silver ores from the United States over imports was $7,632,278. The movement of the silver is exhibited in the following table : MOVEMENT OF SILVER, FISCAL YEAR 1888. IMPORTS. Foreign silver bullion Foreign silver ores Foreign silver coin , $5, 619,0065,115,56a 9, 478, 081 Total 20, 207, 653 306, 57i^ TJnited Srates silver coin (including trade-dollars) 20,514,232 Total EXPORTS. 20, 563, 956 107, 87& 31, 980 7,370,549' 6sa Domestic silver bullion Domestic silver ores Foreign silver bullion re-exported Foreign silver coin re-exported Foreign silver ores re-exported Total 28, 075, om ^ 71,464 TJnited States silver coin Total exports 1 28,146,5ia , 7, 632, 278 Net loss by export ' PRODUCTION OF GOLD AND SILVER IN THE UNITED STATES.^ The production of the precious metals from mines ofthe United States was exhibited and explained in detail in my special report on that subject covering the calendar year 1887, being the eighth of a series of> reports prepared by this Bureau under annual appropriations for collecting statistics of production of the precious metals in the United States. The estimated product of the mines of the United States for the calendar year 1887 was there stated to have been: PRODUCTION OF T H E PRECIOUS METALS I N T H E U N I T E D STATES, CALENDAR YEAR 1887. Metal. Gold Silver Fine ounces. Coining value.' n , 596, 375 _^41,268,305 $33,000, 000 53,357,000 In the above estimate silver was reckoned at its coining rate in silver dollars. 145 DIRECTOR O F T H E MINT. The average price of silver for the calendar year 1887 was about $0.98. The commercial value of the silver product of the United States was accordingly about $40,450,000. , The estimate of the aggregate production of gold and silver was approximately distributed in round numbers among States and Territories as in the following table: APPROXIMATE DISTRIBUTION, I N ROUND NUMBERS, B Y STATES AND T E R R I T O R I E S , OF THE ESTIMATED TOTAL PRODUCTION OF P K E C I O U S METALS IN THK U N I T E D STATES F O R 1887. ^ Silver. Gold. state or Tei-ritory. Total value.Fine ounces. Alaska Arizona Caliifornia Colorado Dakota Georgia Idabo Michigan Montana Nevada iNew Mexico Noiqth Carolina — Oregon , South Carolina. Utah , Washington Texas Alabama, Tennessee, Virginia, Vermont, and Wyoming Total 32, 656 40,155 648, 283 193, 517 116,110 5, 322 91,921 ],258 252, 976 120, 948 24,190 10, 886 43, 541 2,419 10, 643 7,257 Value. Fine ouuces. Value. 232 $300 • $G75, 000 2, 939,129 3, 800, 000 830, 000 1,160,183 1, 500, 000 13, 400, 000 4, 000, 000 11, 601, 825 15, 000, 000 540. 000 417, 690 2, 400. 000 500 387 110, 000 2, 320, 365 3.000,000 1, 900, 000 27, 080 35, 000 26, 000 5, 230, 000 11, 988, 553 15, 500, 000 3, 789, 930 4, 900, 000 2, 500, 000 1, 778, 947 2, 300, 000 500, 000 225, 000 3, 867 5,000 900, 000 7, 735 10, 000 50, 000 387 500 220,000 5,414,185 7,000,000 150, poo 100, 000 77, 340 250,000 193, 364 887- 500 $075, 300^' 4, 630. 000 14,900, ooa19,000,000 2, 940, 000' 110, .500^ 4, 900, 000 61,000 20, 730, 000' 7,400,000. 2, 800, 000230, 000' 910,000. 50, 500^ 7, 220, OOO' 250, 000' 250, 000> 20, 500 87, 077, 800 1, 603, 049 The estimates of the Bureau of the product of gold and silver from the^ mines of the United States from 1880 to date are presented in the following table: Years. 1880 1881 1882 1883 1884 1885 1886 1887 ., Gold. $36,000,000 34, 700, 000 32, 500, 000 30,000, 000 30, 800, 000 31,800.000 35, 000, 000 33, 000, 000 Silv^. Total. $39, 200, 000 $75, 200, 00043, 000, 000 77, 700, 00046, 800, 000 79, 300, 000 46, 200, 000 76, 200, 000 48, 800. 000 79. 600, 00051, 600, 000 83, 400, 000 51, 000, 000 86, 000, 000 53, 357, 000 86, 357, ooo' In the Appendix (page 280) will be found a table showing the production of gold and silver in the United States from the year 1792. H. Ex. 2 — 1 0 146 REPORT INDUSTRIAL EMPLOYMENT ON OF THE FINANCES. GOLD^ AND SILVER IN THE STATES. UNITED , '/ . The results of the several censuses, four in number, taken by the Bureau of the Mint, covering the years 1880,1881,1883, and 1885,*as to the amount of gold and silver, and the several classes of material, used by goldsmiths and others in manufactures and the arts, have been presented in the reports of this Bureau, both fiscal and calendar. In my last fiscal report the result of the census covering the calendar year 1885 was revised from later information, and without presenting the results of such revision at length, the following brief table exhibits the latest work of the Bureau inthis line, that is, so far as returns have been sought from consumers or direct employers of the precious metals in manufactures and the arts. R E V I S E D T A B L E SHOWING T H E CHARACTER AND V A L U E O F T H E P R E C I O U S JY[P:TALS REPORTED B Y MANUFACTURERS. J E W E L E R S , AND OTHERS, AS USED B Y THEM DURING T H E CALENDAR YEAR 1 8 8 5 . Character. United States coin : -., Stamped TJnited States or refined b a r s . . . Foreign coin ^.'. Old jewelry, plate, and otber old material .^Native grains, nuggets, etc Wire or rolled plate Total Gold. Silver. $2, 827, 378 $133,644 6, 234, 034 4, 436, 603 178, 913 6-2, 708 847, 715 245, 413 502, 893 103, 272 561,187 216, 773 11,152,120 Total. $2, 961, 022 10, 670, 637 241, 621 1, 093,128 606,165 777, 960 5,198,413 . 16,350,533 Inquiries as to direct use ofthe precious metals by jewelers and others can be undertaken only at intervals of several years, as they involve great clerical labor and unduly tax the patience and courtesy of those from whom information is sought. The Bureau has nothing on the part of consumers to offer later than the above report of cbnsumption for the calendar year 1885. At the institutions under the control of this Bureau, however, effort is made to ascertain the uses for which gold and silv-er bars are intended, and the accounts are ke[)t in such form as to show the composition of bars of gold and silver destined for industrial use, that is, the character of the material used in the manufacture of such bars, distinguishing United States and foreign coin and domestic and foreign bullion. From privatej-'cfineries in theUnited States engaged in the business of manufacturing bars for industrial use information on this point is readily communicated to the Bureau. For the purpose, therefore, of ascertaining the value of bars supplied to goldsmiths and others for industrial use, the mints and the assay office at New York were instructed to forward statements of the value and characterof the material used in the manufacture of bars of gold and silver so furnished during the calendar year 1887. Inquiries were also addressed to forty-three firms believed to comprise all the private refineries in the United States engaged in this business. Eeplies have been received from forty one. Twenty-six firms communicated the value of bars manufactured during the calendar year, and the rest of the number reported none manufactured. The work in this line of each ofthe Government institutions, and of twenty-six private refineries, is exhibited in tabular form in my Report on the Production of the Precious Metals for the calendar year 1887. DIRECTOR OF T H E 147 MINT. The following table is a condensation of the work of both Government -:and private retineries in this line : VALUATION AND CLASSIFICATION OF GOLD AND S I L V E R BARS P R E P A R E D B Y U N I T E D STATES M I N T S AND ASSAY O F F I C E AT N E W YORK:, AND B Y P R I V A T K R E F I N E R I E S , D U R I N G T H E CALENDAR YEAR 1886, F O R U S E I N T H E A R T S . A s s a y Office, New York. Classification. Mint, Philadelphia. Mint, San Francisco. Private refineries. Total. GOLD. •Coin: UnitedStates Poreign. . . IBullion: Domestic ] Foreign $1,104.69 190, 919. 39 .. .. - •^Old p l a t e , jewelry, e t c .Deposits for l a r g e b a r s n o t for u s e of m a n u f a c t u r e r s , redep o s i t e d for small b a r s for u s e by manufacturers iUiiited S t a t e s M i n t a n d A s s a y Office b a r s 1, 599, 317..53 447, 083.16 783, Oil. 62 $299, 985. 00 $365,261. 94 190,919.39 644,448. 00 2, 243, 765.53 447, 083.16 1, 928, 046. 39 1, 088, 828.00 56, 206. 77 4, 303,144. 51 4, 303,144. 51 1, 457,161. 00 l E x c h a n g e b a r s sold for coin ' Total $64,172. 25 ; . . . 7, 324, 580. 90 456, 570.18 1,457,161.00 456 570.18 576.949.20 3,490,422.00 11, .391, 952.10 D e d u c t : TJnited S t a t e s b a r s rep o r t e d by p r i v a t e refineries, t h e a r a o u n t b e i u g i n c l u d e d in •bars fuTuished t h e m b y t h e !N^evv V o r k A s s a y Office 1, 457,161. 00 Total 9, 934,791.10 SILVER. ^ " •Coin : United States Foreign bullion: X>omestic O l d plate, jewelry, etc United States Mint and Assay • Offico b a r s Total ^Deduct: U n i t e d S t a t e s b a r s rep o r t e d by jji ivate. refineries and tbe Mint at Philadelpbia, . t h e a m o u n t b e i u g incli.uledin b a r s l i i r n i s h e d t h e m by t h e A s s a y Office a t ^ e w Y o r k Total 1, 099. 97 • 162, 499. 27 1, 259. 00 2, 358. 97 162, 499. 27 3,441,785.86 663,115.48 192,19L 34 184,409.00 18, 362.43 $102.23 3,626,194.86. 663,115.48 404,155. 00 4,460,691.92 19, 556. 76 1, 194. 33 102. 23 193, 499. 00 203, 949. 00 205,143. 33 583,116. 00 5, 063,466. 91 205,143. 33 4, 858, 323. 58 The following tables recapitulate the value of bars manufactured for industrial use for the two calendar years 1886 and 1887, the value of the refined bars bearing the stamp of a United States mint or assay oflQce, reported by private refineries as having been sold to manufacturers and. 148 R E P O R T ON T H E FINANCES. dealers during the year, being deducted from the totals to avoid dupli cation: RECAPITULATION OF T H E V A L U E O F T H E GOLD AND S I L V E R BARS F U R N I S H E D FOR USE IN MANUFACTURES AND T H E ARTS D U R I N G T H E CALENDAR YEAR 1886, AND THE CLASSIFICATION OF T H E M A T E R I A L USED. Material. Gold. U n i t e d S t a t e s coin D o m e s t i c bullion F o r e i g n coin a n d b u l l i o n Old m a t e r i a l Total Silver. Total. $365, 26i; 94 7, 003, 480.22 638, 002.55 1,928,046.39 $2, 358. 97 3, 626,194. 86 825, 614. 75 ' 404,155. 00 $367, 620. 91 10, 629, 675. 08. 1,463,617.30 2, 332, 201. 39 9, 934, 791.10 4, 858, 323. 58 14, 793,114. 68 RECAPITULATION OF T H E V A L U E OF T H E GOLD AND S I L V E R BARS FURNISHEDTOR U S E I N MANUFACTURES AND T H E A R T S DURING T H E CALENDAR YEAR 1887, AND CLASSIFICATION OF T H E MATERIAL USED. Material. Gold. United States coin '. Domestic bullion F o r e i g n coin a n d bullion Old m a t e r i a l Total ... Silver. Total. $362,261.15 9, 090, 34L 55 384,121. 93 1, 835, 881. 77 $3, 667. 30 4,102, 733. 94 654, 991.21 480, 605. 74 $365,928.4513,193,075.49 1, 039,113.14 2, 316, 487. 51 11, 672, 606. 40 5, 241, 998.19 16, 914, 604. 59 I t will be noticed that the amount of United States coin reported a s used in the preparation of jewelers' bars is small as compared with the value of United States coin melted annually for industrial employment^ the estimate of the latter being the amount reported by jewelers and , others to have been used in their business during the calendar year, 1885, viz, $3,500,000.in United States gold coin and $200,000 in United States silver coin. The melting of coin for industrial use is principally on the part oi jewelers for the manufacture of small articles and in repairs, and the amount so melted would not appear in an inquiry of the kind here presented. I t is proper to state, however, as was pointed out in my last fiscal report,* that there is a growing tendency to use bars for industrial purposes rather than to melt coin. The value of the gold bars furnished for industrial uses during the calendar year 1887 was $11,672,606.40, and of silver bars $5,241,998.19 (coining value), a total of $16,914,604.59, against $9,934,791.10 gold in 1886, and $4,858,323.58 silver, a total of $14,793,114.68. Unless there has been a considerable diminution in the quantity of coin used, the employment of gold and silver in the industrial arts during the calendar year 1887 aggregated $14,600,000 gold and $5,280,000 silver (coining value). The following tables exhibit the work in the same line of the United States assay office at New York and of the mint at Philadelphia, the only Government institutions which furnished bars for industrial purposes, covering the fiscal year 1888: * Page 79. . ' ' DIRECTOE OF T H E 149 MINT. V A L U E AND COMPOSITION oi^' BARS F U R N I S H E D F O R U S E I N T H E ARTS, ISSUED^^^) BY THE U N I T E D STATES ASSAY O F F I C E AT N E W YORK, DURING THE F I S C A L Y E A R 1888. Bars manufactured. Material used. Gold. Value. Fine ounces. 3, 545.150 86, 777.191 12, 290. 369 66,683.034 $73, 284.75 1, 793, 843. 75 254, 064.48 1,378,460.65 2, 09L 73 21, 723. 79 3, 533, 328. 74 613,714.81 279,912.98 $2 324.14 24,137. 55 3, 925, 920. 82 681 905. 35 311, 014. 42 169, 295. 744 3, 499, 653. 63 4, 450, 772. 05 4, 945, 302. 28 180,715.646 3, 735.723. 94 F i n e ounces. I J n i t e d S t a t e s coin 'Jforeign coin Domesticbullion P o r e i c n bullion Old p l a t e , j e w e l r y e t c . . .. T o t a l for u s e i n a r t s Large coin less gold gold b a r s e x c b a n g e d for gold a n d r e d e p o s i t e d for small b a r s , cbarges and fractions paid in coin L a r g e gold b a r s t a k e n . b y m a n u f a c t u r e r s in e x c h a n g e for o'old coin Silver. Value. . 119, 715.109 2, 474, 730 94 Total 300, 430. 755 6,210,454 88 G r a n d t o t a l gold 469, 726. 499 9,710,108 51 • V A L U E AND COMPOSITION OF BARS F U R N I S H E D FOR U S E I N THE ARTS, ISSUED BY T H E M I N T AT P H I L A D E L P H I A , DURING THE F I S C A L Y E A R 1888. Bars manufactured. Material used. F i n e ounces. 1, 875. 490 2, 460. 556 Uriited S t a t e s coin Old p l a t e , j e w e l r y , etc Foreign bullion Philadelphia mint bar . . E x c b a n g e b a r s sold for coin Total Silver. Gold. . ... Value. 4. 955 10.380 23, 552. 882 $38, 769. 83 50, 864 20 102 42 214 77 486, 881 28 27, 904.272 576, 832. 50 Fine ounces. Value. 16,192 87 $17, 992. 08 16,192 87 17, 992. 08 The value of bars furnished by these two institutions during the fiscal year 1888 was gold, $10,286,941.01; silver, $4,963,294.36; against $9,719,585.40 gold and $4,834,814.19 silver during the calendar year 1887. This would indicate a continued increase in the industrial employment of the precious metals in the United States, being more than half ^million dollars greater in the value of the gold furnished by these two institutions between the last fiscal year and the last calendar year, and a,bout $130,000 greater in silver. 150 E E P O R T ON T H E FINANCES. STOCK OF COIN IN THE UNITED STATES^ ID continuation of the estimates ofthe Bureau of the Mint as to the stock of coin in the United States, the following is presented showing: the stock of coin at close of the fiscal year 1888: )• ESTIMATE OF STOCK OF C O I N J U L Y 1, Items. Gold. E s t i m a t e d s t o c k J u l y 1, 1887 Coinage, fiscal y e a r 1888 Net imports . Total : L e s s d e p o s i t s of TJnited S t a t e s coin U s e d ip. t b e a r t s Total ; Silver, Total. $569, 008, 065 28. 364,170 1, 970, 114 $342, 537, 916 34,136, 095 169, 509 $911, 545, 981 62, 500, 265 2,139, 623 599, 342, 349 376, 843, 520 976, 185, 869 492, 512 3, 500, 000 528, 354 200. 000 1, 020, 866 3, 700, 000 3, 992, 512 E s t i m a t e d s t o c k J u l y 1, 1888 1888. 595, 349, 837 728, 354 376,115,166 i 4, 720, 866 971. 46.5. 003 ' ' In addition to the gold and silver coin estimated to have been in? the country on the 1st July, 1888, the value of the gold and silverbullion in the mints and assay offices awaiting coinage at that date wasasfollows: GOLD AND S I L V E R B U L L I O N I N MINTS AND ASSAY O F F I C E S J U L Y 1, ' Cost. Metals. Gold Silver ....-- 1888. $110,469, 018 10, 495, 942 : 120, 964, 960 Total \ Adding this to the stock of coin, the total metallic stock in the-United States at close of the fiscal year 1888 was as follows: TOTAL METALLIC STOCK, J U L Y 1, Value. Metals. Gold Silver . . . . Total . . 1888. . $705, 818, 855 386, 611,108 1, 092,429,968 The total gold coin and gold bullion estimated by this Bureau t o liave been in the United States at close of the fiscal year 1887 was $654,520,335. Hence a gain during the fiscal year of $51,298,520 gold. The total stock of silver June 30, 1887, was estimated to have been^ $352,993,566. Hence a gain in silver during the fiscal year of $33,617,542 5 a total gain in gold and silver of $84,916,062. The ownership, as distinguished from the location of the gold and^ silver coins, estimated to have been in the country on July 1, 1888j. 151 DIRECTOR OF T H E / M I N T . together with the bullion in the mints awaiting coinage, is exhibited m the following table: STOCK AND O W N E R S H I P OF GOLD AND S I L V E R COIN I N T H E U N I T E D STATES J U L Y 1, 1888, AND GOLD AND S I L V E R B U L L I O N I N T H E M I N T S A W A I T I N G COINAGE. Ownership. Silver coin and bullion. Gold coin and] old bullion. Fnlllegail- Subsidiary Silver bull. coin. tender coin. Total. Total gold and silyer coin and bullion. Treasury ^$194,218,632 t$43, 492, 111 26, 051, 741 $10,495,942 $80, 039, 794 $274, 258, 426 !N ational banks .. +164, 471, 712 §14, 001, 286| 2, 819, 2781 181, 292, 27(> 16, 820, 564 Banks other than national (values specifically reported) 1144,288,254 1, 912, 020 46, 200,274 1, 912, 020 Banks other than national (val^47,535,; ues not specifically reported), and in private : bands 287, 838, 730 302, 840, 257 240, 303, 373 Total . 705, 818, 855 299, 708, 7901 76, 406, 376 10, 495, 942 :6, 611,108 1, 092, 429, 96a * Gold coin in the Treasury and gold bullion in the mints and assay offices, exclusive of outstanding gold certificates t Silver dollars in the Treasury, exclusive of outstanding silver certificates t Includes Treasury and clearing-house gold certificates § Includes Treasury silver certificates llCasbonhand reported to the Comptroller o f t h e Currency by 3,527 banks otherthan national (savings-banks, 801; State banks, 1,403; loan and trust companies, 120; private banks, 1,203), about June30, 1888: Value. Iteras. Goldcoin . .... . . .... Gold certifi cates Silver coin Silver certificates ... . - .. Specie . .. . .. Legal-tend er and national-bank notes "Not classified: California banks Otlier banks Total . . . . . '... - . ...'...... ....... ...... .... . $5,587,144 591, 385 1, 358, 513 553, 507 18,445, 351 28, 954,575 ($119, 887, 370> (200, 387, 376) (89, 645,930) (7, 094, 854> Taken as gold.. $6,178,529' 18,445,351 19, 664, 374 86, 340, 884 19, 664, 37'! 161,495,733 44, 288, 254 A ' In the above table the gold and silver bullion belonging to the Government, awaiting coinage in the mints, has been added to the stock of coin. Heretofore, in the corresponding table in reports of this Bureau, coin only has been exhibited. Th the above table the amount of gold coin shown to be in banks other than national is placed at $44,288,254, being the amount specifically reported to the Comptroller of the Currency by 3,527 banks other than national, but it will be noticed in the foot-note to the table t h a t 152 REPORT ON THE FINANCES. ^106,005,258 of the assets reported by these 3,527 banks was reported •^^not classified." Of this, $19,664,374 reported by California banks, was taken as gold, for the reason that only gold circulates on the Pacific coast, except for small-change purposes. It is probable that a very large portion of the $86,340,884, reported by l)anks other than the banks of California as not classified assets, con•sisted of gold coin, but how much it is impossible to tell. I t will be ^remehibered also that the number of bknks other than national, reporting to the Comptroller of the-Currency, forms a small proportion of the number of such in the United States. As there is no law requiring ofiScial reports from banks other than national, it is practically impossible to ascertain the stock of coin held by such banks, though believed to be largely in excess of $44,288,254 as presented in the table. The following is an exhibit ofthe amount of metallic and paper nioney in the United States and the location of same on July 1, 1888: FoKM AND L O C A T I O N O F T H E M O N E Y S O F T H E U N I T E D S T A T E S A N D T H E B U L L I O N A W A I T I N G - C O I N A G E IN T H E M I N T S , J U L Y 1, 188d. [Exclusive of minor coin and minor-coinage metal.] Tn T r e a s u r y . Items. I n National banks. I n other banks and g e n e r a l circulation. Total. METALLIC. 'G-old b u l l i o n '"Silver b u l l i o n $110,469,018 $110,469,018 . . ..... 3, 950, 388 3, 950, 388 'Silver bullion (melted trade-dollars). 6, 545, 554 6,545,554 <Gold c o i n . . 203, 636, 984 ^Silver d o l l a r s '. 243, 879, 487 6, 906, 432 48, 922, 871 299, 708, 790 26,051,741 2,819,278 47, 535. 357 76,406,376 594, 533.172 105, 435, 492 t52, 398, 204 81,995,643 S u b s i d i a r y s i l v e r coin .. ...... Total *$95, 709, 782 $296, 003,071 595, 349, 837 . 392, 461, 299 | 1. 092, 429, 963 REPRESENTATIVE. I'Old d e m a n d n o t e s S i l v e r certificates .-. Total..- ... 56, 807 2,100,000 14, 665, 000 142, 023,150 12, 315, 000 • 22,135, 780 68,761,930 51,125,440 29,104, 396 7, 094,854 193, 292, 522 229, 491, 772 7, 054, 221 t25,130, 431 230,183, 669 252. 368, 321 !N'^ational-bank n o t e s S.*^ractional p a p e r c u r r e n c y 346, 681, 016 56. 807 250, 000 •Certificates of d e p o s i t •iOold c e r t i f i c a t e s 219 '287 160 1,358 632,602 6,288,683 6, 922, 643 110, m , 959 195, 930, 460 685, 334, 290 992, 208, 709 ^' * Includes $20,884,000 clearing-bouse gold certificates. t Includes $14,415,000 beld for'the redemption of oertificates of deposit for legal-tender notes," a c t o f J u n e s , 1872. I Includes $3,787,026 of their owu notes held by|the different national banks. The following statement, based on net coinage in relation to recoinage, and net imports and exports of United States coin, with a pro rata deduction for consumption of United States coin in industries, from J u l y 1 to November 1 of tbe present year, exhibits approximately the stock of gold and silver coin in the United States a t the date of this report: 153 DIRECTOR OF T H E MINT. STOCK OF GOLD AND S I L V E R COIN I N THE U N I T E D STATES N O V E M B E R 1, 1888. (Approximate.) Silver coin. Gold coin Date. ' Full legal tender. Snbsidiary. Total silver. $595, 349, 837 $299, 708, 790 $76, 406, 376 $376,115,166 7, 876, 000 10, 042,100 254,105 10, 296, 205 Stock July 1,1888 Gain since that date Stock November 1, 1888 603, 225, 837 309,.750, 890 76, 660, 481 386, 411, 371 Total gold and silver coin. $971, 465, 003 18,172,205 989, 637, 208 In addition to the coin estimated to have been in the country at the date of this report, there was gold and silver bullion in the mints and assay offices as follows : GOLD AND S I L V E R BULLION I N M I N T S AND ASSAY O F F I C E S N O V E M B E R 1, 1888. ; Metals. Gold Silver Cost value. $108,479,213 10, 559,113 6 Total -.!-..- - 119, 038, 326 This, added to the stock of coin, gives the total metallic stock as follows : TOTAL METALLIC STOCK NOVEMBER 1, 1888. - (Approximate.) A Cost value. Metals. .<? $711, 705, 050 396, 970, 484 Gold Silver Total 1,108, 675, 534 -...: PROPOSED LEGISLATIOI^. NEW DESIGNS OF UNITED STATES COIN. - A bill to amend section 3510, Eevised Statutes, and to provide for new designs of authorized devices of United States coins, was introduced by Mr. Morrill in the Senate March 15, 1888, and referred to the Committee on Finance. The same bill was also introduced in the House of Eepresentatives by Mr. Bland, referred to the Committee on Coinage, Weights, and Measures, and ordered to be printed. . The bill thus introduced in both branches of Congress failed t o b e reported by either committee to which it was referred. It was as foi. lows: ' [Additions in italics; omissions in brackets.]. Be it enacted by the Senate and Ploufie of Bepresentatlves of the United States of America in Congress assembled, That section thirty-fi\^e hundred and ten of the Revised Statutes of the United States be, and the same is hereby, amended so as to read as foUows: S E C 3510. The engraver shall prepare from the original dies already authorized all the working-dies required for use in the coinage of the several mints, and, when new 154 REPORT ON T H E FINANCES. doins, emblems, [or] devices, legends or designs are authorized, shall, if required by t h e Director of the Mint, prepare the devices, models, [moulds, and matrices,] hubs or original dies for the sarae. The JJirector of the Mint shall have2power, with the ai^jjjroval of the Secretary of the Treasiiry, to cause new designs or m,odels of anthorized emblems or devices to be prepared and adojyted, in the same manner as when new coins or denices are authorized, but no change in the design, or die of any coin, shall be made oftener than once in twenty'five years from and^ including the year of the first adoption of the desigri, model, die, or hub for the same coin : Provided no change be made in the diamefer of any coin : And provided further, that nothing i7t this section shall prevent the adoption of new designs or models for devices or emblems already authorized for the standard silver dollar and ihe fivecent nickel piece as soon as practicable after the passage of this act. But the Director of the Mint shall nevertheless have power, with the a p p r o v a l o f t h e Secietary o f t h e Treasury,, to engage temporarily for this purpose the services of one or more artists, distinguished in their respective departments of art, who shall be paid for such service from the contingent apx)ropriation for the mint at Philadelphia. The following is a transcript of the official correspondence upon the above bill: COMMITTEE ON F I N A N C E , U N I T E D STATES SENATE, .March 19, 1888. D E A R S I R : With this I send you a copy of the bill introduced by request of t h e Director of the Mint (S. 2382), and would like to have any facts or suggestions from yon as to the necessity or propriety of the proposed bill. Very truly yours, J U S T I N S. M O R R I L L . Hon. C. S. F A I R C H I L D , Secretary of the Treasuiy. TREASURY DEPARTMENT, O F F I C E OF T H E SECRETARY, Washi7igton, D. C , March 20,1888. S I R : In response to your request for any facts or suggestions from me as to the necessity or propriety of the proposed bill (S. 2382) " t o amend section 3510, Revised ' Statutes, and to provide for new designs of authorized devices of United States coins," I have the honor to state t h a t the bill relerred to was draughted by t h e Director of t h e Mint, with my concnrrence, and that its provisions commend themselves to my judgment as perhaps the simplest t h a t can be devised to accomplish the import a n t purpose contemplated without radical change of existing laws. The designs at present employed on our older coins date from periods of t h i r t y t o fifty years, and are commonly recognized as far behind the state which the arts of design and sculpture have siyce attained. Representations on the part of many intelligent persons have been made to me, as well as to my predecessors, by way of calling the attention of the Department to the defects in the artistic execution of our coinage and of urging the importance of its improvement. Having referred your request to the Director of t h e Mint, I return herewith his report, emhodying a few pages on the same subject from his report for the fiscal year 1887. . • Respectfully yours, C. S. F A I R C H I L D , Secretary of the T'reasury.^ Hon. J. S. M O R R I L L , Chairman Commit lie on Finance, U. S, Senate. TREASURY DEPARTMENT, B U R E A U OF THE MINT, Washington, JD. C , March 20, 1838. SIR : Returning herewith the note of inquiry from the Hon. J u s t i n S. Morrill, chairman of t h e Committee on Finance, United States Senate, together with a copy of Senate hill 2382, introduced by Senator Morrill, to amend section 3510, Revised Statutes, and to provide for new designs of authorized devices of United States coins I inclose also a copy of a previous paper by me, stating in a succinct form the technical and practical points involved in the present inquiry. In order to exhibit the character and extent of the proposed amendnient, I append a copy of the bill, with omissions from the present statutes and additions thereto' indicated^ I can respond to your present reference of this bill.to no better purpose, perhaps, t h a n to forward these papers in a separate form. The bill introduced by Senator Morrill was intended to be in line with the represeni^ations and suggestions made l)y me in. my fiscal report for 1887. , . DIRECTOR OF T H E MINT. 15& Suffice it to add that although the motto " In God tve trust^' was added in 1^66 t a t h e legends of sevei-al coins, no material change in the designs of any of them hasheen made since the following dates, respectively: Gold: Double-eagle 1849' Eagle , 183& Half-eagle 183^^ Three dollars : 1854 Quarter-eagle , -• 1840 Dollar , 1854 Silver: Dollar ....; 1878Halfdollar < 1838Quarter-dollar J 183.H Dime .• lo38Minor: Five-cent nickel 1883". Three-cent nickel.J. 1865 One-cent bronze 1864 Respectfully yours, J A M E S P . KIMBALL, Director of the Mint. Hon. CHARLES S. F A I R C H I L D , Secretary of the Treasmy. DEVICES AND DESIGNS OF COINS.* [Extract from tbe Report of tbe Director of the Mint for the flscal year 1887.] The prevailing laws in respect to the devices and designs of current coins of the United States are those of the Coinage Act of 1873, namely^ sections 3510 and 3517 of the Eevised Statutes, as follows: SEC. 3510. The engraver shall prepare from the original dies already authorized all the working-dies required for use iu the coinage of the several mints, aud, when new coins or devices are authorized, shall, if required by the Director ofthe Mint, prepare the devices, models, moulds, and matrices, or original dies, for the same; but t h e Director of the Mint shall nevertheless have power, with the approval of the Secretary of the Treasury, to engage temporarily for this purpose the services of one or more artists, distinguished in their respective departments of art, who shall be paid for such service from the contingent appropriation for the mint at Philadelphia. SEC. 3517. Upon the coins there shall be the following devices and legends: Upon one side there shall be an impression emblematic of liberty,! with an inscription of the word *'Liberty" and the year of the coinage, and upon the reverse shall be the figure or representation of an eagle, with the inscrijjtions *' United States of America'' and ' ' E Pluribus Unum," and a designation ofthe value ofthe coin; but on the gold dollar and three-dollar piece, the dime, five, three, and one cent apiece, the figure of the eagle shall he omitted. * * * Section 3517 is substantially a reenactment of the thirteenth section of the act of January 18,1837, except as to coins subsequently introduced into the coinage. Tike devices of coins of the United States, including the subsidiary coins, are prescribed by this section, 3517, and by the provision in section 13510, which practically limits both designs and devices to such as were employed at the time of the passage of the Coinage Act of 1873. The joint effect of the two sections is to render mandatory the preservation of present designs as well as present devices. By the laws of February 21 and March 3, 1853, was prescribed the weight of subsidiary coin then authorized. It was also by the latter * I n the following text a distinction will he drawn between t h e terras device and design as applied to coins, and the former employed, as in the Reyised S t a t u t e s , i n the sense of emljlem ; the latter, as in its ordinary application to works of art. In t h e coinage laws of the United States the term design does not appear, the term model' having heen adopted to the same purpose. t. According to precedent, the phrase " Upon one side there shall be an impression emblematic of liberty" has been interpreted to provide either for a head of Liberty or for a figure of Liberty. 156 I REPORT ON THE FINANCES. that the Director of the Mint was '^empowered, with the approval of the Secretary of the Treasury, to engage temporarily," for the purpose of preparing devices, "the services of one or more artists, distinguished in their respective departments," to be paid from the contingent appropriation for the mint at Philadelphia. The language of section 3510, Eevised Statutes, as in the Coinage Act of 1873, was, in respect to this provision, essentially the same as in the laws of 1853.* The authority which is given by section 3510, Eevised Statutes, to the Director of the Mint, with the approval of the Secretary of the Treasury, to fix designs of new coins in conformity with prescribed devices, is not believed b}^ me, nor by such law ofiicers of the-Government as liave been consulted, to admit of such a construction as also to provide for changes in the designs of existing coins. In a speech in the Senate by Senator Justin S. Morrill, then, as now, <5hairman of the Committee on Finance, December -5, 1883, ou Senate bill 226, the artistic execution, as well as other characteristics of our , coinage, was ably criticised, and the omission of the law pointed out to provide for its improviment, especially in the designs adopted for regular coinage dies. '•'The) Director of the Mint" [said Mr. Morrill], *'the coiner and engraver, do not appear to haye any discretion in regard to existing coins, which must Ibe made frpm ,' the original dies already authorized,' and * conformable in all respects to t h e law,' and mainly the law of eighty years' standing. It is, even under the law of 1873, only when new coins or devices are authorized that the Director ofthe Mint has power to seek any improvement through the services of corapetent artists. This la\r was in t h e right direction, but whollj^ inoperative, as it has no appliciation e x c e p t ' when new coins or devices are authorized.' No new coins being authorized, no changes can be made in the old matrices and dies; and the engraver, however expert and skillful, h as no possible opportunity to show any rare skill or advancement in the i)erfection f his work." Yet p-^y official attention has been called by numerous intelligent citizens to the inartistic quality of the designs upon several of our current coins, in the hope that means may be found, if only ia the precedents above cited, for the improvement of such coins of the series as may be decided to stand most in need of it. Under the circumstances above set forth, it becomes clear that the Director of the Mint is without official resources in this matt'^r. Having become aware of what I believe to be a popular desire for an improvement of the coinage in respect to the present designs (distinguished from devices) as prescribed by law, I deem it my duty to here invite attention to the matter, and to offer such suggestions as seem to be proper to the office now held by me. It is sometimes considered that Congress has advisedly omitted to provide for an execution of the coinage in keeping with the art of the day, for the reason that any unnecessary change of design is contrary to the interests ofthe public. Whether this is so can hardly be said. I t is open to question, however, how far artistic merit in coins should be sacrificed to custom. * If any authority of law was found for the change of device of the gold dollar in 1854 from that of, 1849, for the complete change in design of the silver dollar in 1878 from the design of 1866, or for the 5-cent nickel piece in 1883 from the design of 1867, and o f t h e lat'ter from t h a t of 1866, snch authority must have been found in provisions of law subsequently codified into section 3510, as above cited. . So too with regard to other minor changes. Whatever the intention of this section may have been held to be hy Director Linderman, the sarae executive officer o f t h e mint by whom, in co-operation with Comptroller of the Currency John Jay Knox, tbe Coinage Act was mainly collated and draughted, the terms ofthis section absolutely fail to provide for change of design in <existiu<2: coins. DIRECTOR OF THE MINT. 157 It has also been urged that readiness of identification of coins is incompatible with changes in their designs. This can hardly be denied in the case of frequent changes ; but again tbe question arises whether a coin for any reason unsatisfactory ought to be perpetuated. The coins of a nation are for the sole.use of the nation itself. A knowledge of the commercial status of coins shows that no nation has anything to expect in the way of consideration for its coins outside of its own borders. As shown in my report for 1885 on Production of the Precious Metals in theUnited States, theforeign coins which come to these shores are hastened to the melting-pot at our several mints and assay offices, while no more consideration is accorded to our own coins at foreign mints.* In the eiglit years ended June 30, 1884, no less than 1,358,822 English sovereigns were melted at the United States assay ofiice at New York,'Or an average of £169,853 a year. In three years ending June 30, 1887, English sovereigns,of the valueof $1,992,871.45 were melted at the same institution. In the eleven years ended in 1885 the same institution melted foreign gold coins of a total value of $122,464,824. (See Annual Eeport, Director ofthe Mint, 1886, p. 151.) I have also shown that it is fresh coin, and not worn coin, which,, wheri diverted from domestic circulation and turned into channels of foreign trade, is at foreign hands speedily consigned to the meltingpot.t The coins of all commercial nations are in part produced from the melting of coins of other nations. I t i s as bullion only that the nations of the world treat each other's coins. The consideration sometimes given to the commercial or foreign standing of our coins outside of the United States is, underthe familiar circumstances above indicated, one which, from a technical or practical point of view, does not apply at least to the form or execution ot coins,, and one which in my opinion ought not to weigh against a domestic interest in the amelioration of the coinage itself. No encouragement on the part of the Government of exportation of United States gold coins can reasonably be asked, especially as facilities for exportation of gold are provided by law in the issue of gold bars in exchange for gold coin. Nor should anything of domestic interest or importance be deferred to a foreign employment of United States silver coins, as in the case of certain subsidiary coins. For it is safe ;to assume that substantially all for which a limited temporary circulation is found in several other countries of the western continent eventually find their way back to the United States in a worn condition for redemption at a considerable loss to the Treasury for recoinage. No silver coin of the United States has longer any claim to recognition as an international coin, like the dollar of Mexico and the Levant thaler .of Austria, or such as the now historical trade-dollar was designed to be, and had well-nigh become—as now shown by the absorption by foreign countries of four-fifths of its whole coinage. It I is the public at home alone, therefore, tbat is concerned in the means provided by the Government for the preservation of the types bf its coins by fixing their devices. As long as these laws stand it is hardly possible that any changes of designs can so alter the type or fades of our coins as to raise against such changes the objection referred to. * Vide p. 97. t Oy. cit, sup., p. 98. 158 REPORT ON THE FINANCES. I t does not seem to me that wonted use of coins with unworthy or Insignificant designs of certain emblems or devices is likely to weigh with the public of the United States against a change for the better in ddesign, especially where any change of device is out of the question. If objections as sometimes heard in this country against a change in t h e designs of any ofthe coins df a nation are real and valid, how much greater their force in the caseof countries where neither devices nor designs are prescribed by law, and where either or both may be changed a t the will of a personal Government. In all monarchies both kinds of •changes may be made at the will of the sovereign. All know how frequent have been such changes ih the coins ofthe several nations of the world in almost every period of history. To these very changes alone coins owe their incomparable historical value. The designs impressed upon the coins of any nation, ancient or modern, are accepted as an expression of the art of their time. But few <3itizens, who, with an artistic sense, have carefully scrutinized the current coins ofthis Eepublic, would consent to accept as a standard of excellence for their own day and generation almost any of the present compositions of statutory devices. The inferiority of our coinage to the same kind of work by almost every other advanced nation of the earth, :as well as to the well-known work of numerous able designers in relief -at home, seems to be perceived by all who have given attention to the ^subject, and to be keenly felt by many as unworthy of the development which the arts of sculDture and design have here attained. The series of United States coins, past and present, taken as a whole, is.not without meritorious* designs, even within the narrow limits of traditional, and later statutory, devices. But whatever art-value be attributed to any of the series seems to be in impressions from certain long-superseded dies. I t sometimes happens that the present subject is discussed wholly from an artistic point of view, and that accordingly too much is exacted in the way of improvement. It does not, indeed, seem to be always understood that, unlike medals, coins are no longer struck in high relief, on which so much of the beauty of design in the coinage ot ancient G^reece is found to rest. The last legislation by Congress in the matter of devices, designs, and legends of Uuited Stares coins was a part of the Coinage Act of 1873, and, as already stated, by re-enactment of old laws—except as then provided for the 3-doliar piece, subsidiary and minor coins. This legislation did not go beyond the perpetuation or adoption of the whole series of designs as then found, and precisely as then employed. This was at least the most direct wa-.y out of a difficulty, such as would present itself to any legislative body, called upon to decide a question of art, aesthetics, or numismatology. And it seems not improbable that, as the most practicable alternative from any future difficulty of a similar kind, optimistic views would again prevail. Whenever any measure for changes in the devices or designs of existing coins be adopted, it will be by act of Congress. And whenever such a measure comes to be practically entertained by Congress, one of the first questions for decision will be whether its action shall be ex-ecutive as well as legislative—that is, whether it shall reserve to itself final action as to the changes themselves; or, as an alternative, whether it shall delegate the determination of their precise character to an executive branch of the Government. In the former case, a measure of this kind would, in the ordinary course of legislation, be first committed to the Committee on Finance of the Senate, or to the Committee on DIRECTOR OF THE MINT. 159 Coinage, Weights, and Measures of. the House of Eepresentatives, or to both, if introduced \fj joint resolution. In the latter case, under ordinary procedure upon such questions, the action of Congress would take the form of an amendment of prevailing sections of law specific as to the scope and limitation of power delegated, and as to the way and means for iis'exercise.. Power delegated by Congress to an executive branch of tbe Government to make any external changes in coins would naturally be committed to the same administrative officer of the Treasury Department, namely, the Director of the Mint, to whom is committed the " power, with the approval of the Secretary of the Treasury, to engage temporarily'' " the services of one or more artists distinguished in their respective departments of art" 4br the preparation of designs, or for the artistic execution of devices when new coins or devices are authorized.* , If new devices, or, indeed, only new designs, be authorized by Congress; by amendment of section 3517, Eevised Statutes, the executive provisions of section 3510 prescribe ready to hand a course which, if intelligently and earnestly followed, is perhaps as well devised as practicable in a representative governnient to satisfy the public requirement of an artistic execution of our coinage in keeping with contemporaneous art. If new designs for present, orfor new statutory, devices be invited, the question naturally arises, how far competition shall be general or public. That a public competition for designs in relief would be productive of satisfactory results does not appear likely, and is certainly contrary to the experience of this Bureau in the way of suggestions from the public in such matters. It is believed, in agreement with section 3510, Eevised Statutes, that desirable results are rather to be sought from the special engagement of the services of artists ''distinguished in their respective departments of art." The question now arises, who shall decide between the claims of artists more or less distinguished? This onerous responsibility falling, in the terms of section 3510, upon the Director of the Mint, is virtually shared with the Secretary of the Treasury. Perhaps this is the only division of responsibility practicable under an official limitation. In the selection of designs, however, this responsibility might be further divided, not necessarily by law, so as to admit also of the services of judges distinguished for their discernment in matters of art and design; such judges, on the invitation of the Secretary of the Treasury, to act with the Director of the Mint in the acceptance or rejection of designs submitted. The above suggestions are made not without full recognition of the fact that the voice of every citizen of the United States is heard upon a matter of art or sestbetics such a>s a design employed on a familiar coin of the Eepublic; or of the fact that while distinguished artists stand ready to offer designs, no public ofiicer could reasonably be called upon alone to pass upon the professional merit of artists or the art value of their productions. . . <> A bill in part designed to efiect the object of the above bill passed the Senate April 2, 1884, and was introduced in the House of Eepresentatives May 31, 18S4 (Porty-eighth Congress), and ordered to be printed. This bill, which has come to my knowledge since the bill draughted by me was introduced in the ^^iftieth Congress, provided as follows: * Sec. 3510, R, S. 160 R E P O R T ON T H E FINANCES. Belating to the improvement of the coinage. s That the Director of the Mint is hereby authorized and directed to employ, temporarily, five persons distinguished in departments of art or in knowledge of coinage and medals, to be approved by the Secretary of the Treasury, who shall investigate and examine the whole subject of our existing system of coinage, with a view to its improvement and greater perfectioti of execution as to metals, relative value of the ininor coius, anil also as to devices, legends, and inscriptions; and the artists or persons so employed shall each be paid out of the contingent fund provided for the support o f t h e mint the sum of two thousand dollars; and any person whose designs for any coin shall be accepted and aclopted as hereinafter provided for shall be paid a. sum not exceeding seven hundred and fifty dollars for each design so accepted and adopted, to be determined by the Director of the Miut. S E C 2. That on or before the first day of December, eighteen hundred and eightyfour, the Secretary of the Treasiiry, the Secretary of State, and the Director of the Mint shall examine the work and designs, together with any explanations submitted as mentioned in the preceding section, and shall transmit tlie same, accompanied by a report, to Congress/with such recommendations as they shall judge most expedient. The disposition of the above bill after passage by the Senate appears not to be indicated in the index of the Congressional Eecord. But the bill failed to become a law for want, it is presumed, of action in the House of Eepresentatives. D E L I V E R I E S OF COIN WITHIN THE CALENDAR YEAR OF DATE. Inviting attention to what has been said in a previous part of this report (p. 6) upon the subject pf the past failure at the mints of tho United States of the deliveries of coin within the year of date, whence the registration of a portion of the coinage as that of a later year, I deem it important to recommend that the present requirements on the part of this Bureau in correction of such a practice be given the force of law, and that an additional clause to section 3536 be suggested to Congress, and that this section be amended as follows: S E C 3536. In adjusting the weight of the silver coins the following deviation shall not be exceeded in any single piece : In the dollar, the half and quarter dollar, and in the dime, one and one-half grains. .And in weighing [ a ] large number of pieces together, when delivered by the coiner to fl;e superintendent, and by the superintendent to the depositor, the deviations from the standard weight shall not exceed twohundredths of an ounce in one thousand dollars, half dollars, or quarter dollars, and one-hundredth of an ounce in one thousand dimes, but all coin shall be delivered by the coiner to the superintendent on or before the last day ofthe calendar year in which struck, and be recorded as the coinage of that year. OPERATIVE WASTAGE OF BULLION. Certain allowances for bona fide wastage of bullion incurred in the operations of the melter and refiner and of the coiner are authorized by section 3542 Eevised Statutes, as follows: [Additions i ^ italics.] S E C 3542. When all the coins, clippings, and other hullion have been delivered ['' Surrendered up"—Coinage Act, sec. 44] to t h e superintendent, it shall be his duty • to examine the accounts'and stateraents rendered by the coiner and the melter and refiner. The difference between the amount charged and credited to each officer shall be allowed as necessary wastage, if the superintendent shall be satisfied that there has been a bona fide waste of the jirecious metals, and if the amount shall not exceed, in the case of the melter and refiner, one thousandth of the whole amount of gold, and one and one-half thou.sandths of the whole amount of silver delivered to him since the last annual settlement, and in the case o f t h e coiner, one-thousandth of the whole amount of silver, and one-half thousandth of the whole amount of gold t h a t has been delivered to him hy the superintendent. All copper used in the alloy of gold and silver hullion shall be separately charged to the melter and refiner, and accounted for hy him. DIRECTOR OF T H E MINT. lOl Under this section operative officers claim au aUowance for wastage on bullion once received or ''charged,'^ whether the whole or only a p a r t has been ojierated upon. It can hardly be presumed that it could have been tbe intention of the law to allow the i)i'oportion of wastage to be reckoned upon any other amount of bullion than the net amount oper:ated upon. A bon,a fide wastage can indeed be proportionally determined in no other way. I t is obvious that either legal allowance for operative wastage of the precious metals, whether determined in one or the other way, may be Very materially difierent. There can be no fixed exaction of law upon this sulvject, nor can uniformity of terms be observed in mint statements of wastage, if the present statute be authoritatively" held to sufier allowances for wastage to be proportionally reckoned upon so variable -a function as the amount of bullion charged to an operative officer rather than upon the net amount operated upon. The following by way of amendment of section 3542 should, in my opinion, be submitted for the consideration of Congress: [Substitutions in italics.] ' S E C 3542. When all the coins, clippings, and other bullion have been delivered to the suyjerintendent, it shall be his duty to examine the accounts and statements rendered by the coiner and the melter and refiner. The difference between the amount -operated upon by each, offi.cer and the amount returned less the amount, if any, returned not operated upon sliall be allowed as necessary wastage, if the superintendent shall be satisfied that tberehas been a bona fide waste of the precious metals, and if the amo'unt •shall not exceed, in the case of the melter and refiner, one thousandth of the whole amount of gold, and one and one-half thousandths of the whole amount of silver •operated upon by him since the last annual settlement, and in the case of the coiner, onethousandth o f t h e "whole amount of silver, and one-half thousandth o f t h e whole amouut of gold operated vpov by him. All copper used in the alloy of gold aud silver ^hullion shall be separately charged to the melter and refiner, and accounted for by him. REDEMPTION OF MUTILATED SILVER COIN. o On September 5 there was passed in the House of Eepresentatives a bill (H. E. 7933) *'providing for the exchange of defaced, clipped, punched, or otherwise mutilated silver coins of the United States, of smaller denominations than one dollar, for new or unworn subsidiary silver coins, at designated places and under certain circumstances/' as follows : That the holder of any of the silver coins of the United States, of smaller denominations than one dollar, which have become defaced, punched, clipped, or otherwise mutilated, may, on presentation ofthe same in sums of the nominal value of five dollars, or any multiple thereof, at the office of the Treasurer, or any Assistant Treasurer, of the United States, receive any amount of new or unworn subsidiary silver <joins equal to the coinage value in subsidiary silvercoin, o f t h e said coins, by weight, 60 presented, and when so redeemed the same shall be recoined into current subsidiary •coins at the discretion of the Secretary ^ the Treasury. The above bill by way of substitute for the bill (H. E. 6631) introduced by Mr. Morrow February 6, 1888, was passed as recommended by tbe Cornmittee on Coinage, Weights, and Measures, to which the original bill had been referred (Eeport 780). In the Senate September 6, 1888, it was referred to the Committee on Finance, but at the close of the first session ofthe Fiftieth Congress no report upon the bill had been made by. this committee. " . ^ e.. Ex. 2 11 162 ' R E P O R T ON T H E FINANCES. The insertion of the following communication upon the subject-matter of the above bill will serve to indicate the reasons for further consiclefation: T R E A S U R Y D E P A R T M E N T , B U R E A U OF THE M I N T , Washington, D. C , February 18, 1888. S I R : At the request of the chairman of the Committee on Coinage,. Weights, and Measures, 1 have the honor to submit an opinion as to the provisions of House bill 6631, *' for the exchange of worn, defaced, clipped, punched, or otherwise mutilated^ silver coins o f t h e United States, of smaller denominations than one dollar, for new or unworn subsidiary silver coins, at designated places and under certain conditions." The redemption of worn subsidiary coins at nominal value by the Treasury of theUnited States is not excluded from the provisions of the act of June 9, 1879 (21 Stat. L., 7). Moreover, Treasury regulations for the redemption of subsidiary silver coinsspecifically provide for their redemption at nominal value. Gold and silver coins of all kinds in a mutilated state, for whose redemption hy t h e Treasury the law fails to provide, may be deposited for recoinage at mints and assay offices at bullion value; not, however, in the case of silver coins, without a loss to thedepositor of the now large difference between coinage and bullion value, in addition to allother losses, such as correspond to abrasion and depletion. This difference corresponds to the seignorage which has accrued to the Government in the act of their first issue, and which, indeed, upon recoinage will accrne to it again. In the case of subsidiary coin there (is a loss of 26.7 grains of standard silver^more than iu the'case of a silver dollar. Although the present bill applies alone to mutilated subsidiary coins, there seems no reason why the silver dollar should be exempr.ed from any provisions made for the redemption of mutilated silver coins of less denomination. It seems t h a t the present penalty imposed upon the holder of mutilated subsidiary, coin is considerably more severe t h a t in the case of other coins: Frima facie, indeed, it would seem to be just to provide by law for the redemption, of such uncurrent coins as are now excluded from recourse to a valuation at mints and. assay offices by weight at coinage value, and thus in respect to redemption to p u t them on an equality with all other coins whose buUion and coinage values are coincident. Respectfully yours, JAS. P . / Hon. KIMBALL, J3irector of the Mint. CHARLES S. F A I R C H I L D , Secretary of the Treasury. ^ • PROPOSED DISCONTINUANCE OF THREE-CENT NICKEL COINAGE. A bill (H. E. 4312) '«to discontinue the coinage of three-cent pieces '^ was introduced in the House ot Eepresentatives January 10, 1888, and referred to the Committee on Coinage, Weights, "and Measures. The bill provided— That so much of section thirty-five hundred and fifteen of the Revised Statutes of t h e United States as authorizes the coinage of the three-cent piece be, and the sameis hereby, rexDealed. ^ , S E C 2. That as the said coin shall be paid to the United States the same shall he . withdrawn from circulation and the metal thereof coined into five-cent pieces, in accordance with section thirty-five hundred and fifteen of the Revised Statutes of the' United States. All laws in conflict with this act are hereby repealed. January 26 the committee reported the bill and recommended its passage (Eeport No. 133). The bill passed the House of Eepresentatives* February 9, and the same day in the Senate was referred to theCommittee on Finance. PROPOSED DISCONTINUANtJE OF THREE-DOLLAR GOLD COINAGE.. February 13, 1888, was introduced in'the House of Eepresentatives a bill (H.E. 7214) ^'to prohibit coinage of three-dollar gold pieces,''proA'iding— ' * Congressional Record, Fiftieth. Congress, p...ll38.. DIRECTOR OF T H E MINT. , 163 That so much of section thirty-five hundred and eleven of the Revised Statutes of -"the UnitedStates as authorizes the coiuage of the three-dollar gold piece is hereby repealed. SEC. 2. That the three dollar pieces in the Treasury of the United States, or which may h;ereafter be received by the T n a s u r y , shall not be paid out or in any other manner issned, but shall be transmitted to the coinage mints and recoined into other,ctenominations of gold coins. SECJ 3. That all laws in conflict with this act are hereby repealed. Malrc^ 1 a report (Ko. 781) on the above bill was submitted from the Committee on Coinage, Weights, and Measures, as follows: TheiCoramittee on Coinage, Weights, and Mea.sures, to whom was referred House hill No. 7214, report the same back with a recommendation t h a t it do pass. This bill 'is reco|mmeuded by the Treasury Department. This bill, after reference to the House Calendar, received no further action, its purpose being efi'ected by bill No. 7409, introduced February 20, 1^88, by Mr. Bland, which also provided for discontinuance of the coinage of the three-dollar gold piece. P R 0 P : 0 S E D DISCONTINUANCE OF COINAGE OF THREE-DOLLAR AND ONE-DOLLAR GOLD P I E C E S , AND LIMITATION OF COINAGE OF THE. DOUBLE E A G L E . 1 •• • ' . February 20 a bill (H. E. 7409) was introduced by Mr. Bland, ^Mimiting [the coinage of double-eagles and discontinuing the, coiuage of certain United States coins '' (one and three dollar gold-pieces). This bill provides— That after the passage ofthis act the following denominations of coin, namely, the three-dollar gold piece and the gold dollar shall not be struck or issued by the mints . of the Uni ted States. S E C 2. That hereafter not exceeding twenty per centum of the gold bullion deposited in the niints, and paid for and belonging to the United States, under the provisions of section thirty-five hundred and forty-five of the Revised Sfcatutes, shall be coined;into double eagles. March 13 the Committee on Coinage, Weights, and Measures reported* the bill, and recommended that it— Should be amended by striking out the second sectioii thereof; also t h a t the title of said' bill be amended so as to read as follows : " To discontinue the coinage of the three-dollar gold piece and the gold dollar." T h a t t h e bill so amended meets the approval ofthe Director of the Mint. Wherefore thc committee report said bill, and recommend t h a t it beso amended and t h a t it pass. . March 19 the House of Eepresentatives, after changing the title to read, '^ To discontinue the coinage of the three-dollar gold piece and the gold dollar,^^ passed the bill (H. E. 7409)t introduced February 20, amended so as to read : That' after the passage of this act the following denominations of coin, namely, t h e three-dollar gold piece and the gold dollai^hall not be struck or issued by the mints of the lUnited States. The legivslation as above in the House of Eepresentatives has thus far failed to be advanced by the Senate. Th^ following communication will serve to indicate my views upon the subject-matter of the proposed legislation: ; TREASURY DEPARTMENTT, B U R E A U OF THE M I N T , : Washington, D. C, March 5, 1888. S I R : !In compliance with the request of the chairman of the Committee on Coinage, Weights, and Measures, I have the honor to submit my views as to the propriety of the enactment of bill H. R. 7409, discontinuing the coinage of certain United States coins aiid limiting the coinage of double eagles. *Rep;Ort No. 1020. t Congressional Record, Fiftieth Congress, pp. 2347, 2348. 164 ^ R E P O R T ON THE FINANCES. THREE-DOLLAR GOLD P I E C E . X Observing b y t h e Congressional Record (p. 1695) that the bill (H. R. 7214) prohibiting the coinage of the thtt'e-doilar piece was reported back with a favorable recommendation from the Committee on Coiuage, Weighns, and Measures, and as t h i s hill has been referred to the Honse Calendar and, witli the accompanying report, ordered to be printed, I assume it to be unnecessary to refer further to the proposed legislatioii in the matter of the three-dollar gold piece. I raay say, however, t h a t the discontinuance of the issue of the three-dollar piece would, in my opinion, be very desirable^. This is a denomination whicb. subserves no useful purpose,^its present coiuage being in fact limited to its production for cal)inet purposes. The value of over 11.53,000 in three-dollar pieces still on hand at the mint at Phiiadelphia can Mot be disposed of, owing to the unpopnlarity ofthis coin as a circulating mediura. It is supposed t h a t the three-dollar piece was designed to be a multiple o f t h e threecent piece, forthe convenience of postal transactums, when the three-cent unit for ^ letter postnge prevailed. As a consequence of the change in postal rates, and there existing no present reason for the continuance of a duodecimal coinage, the coinage ®f the three-dollar piece, as well as the three-cent piece, should, in m\^ opinion, be discontinued. GOLD D O L L A R . Referring to the proposal to discontinue coinage o f t h e gold-dollar piece, I may say t h a t snch a measure cominends itself to my judgment. Since 1862 (except for two years) the coinage, at a single mint, of this piece has been limited to such a number as would satisfy the demand for it as a "proof coin " and to such a'supplementary (goinage as was deemed sufficient to prevent an undue enhancement of value of the proof coin. . The practice ofthe Department, therefore, for twenty-five years, except i873 and 1874, has been in harmony with the measure now proposed, and for the3?eason t h a t little practical use has been found for this coin except for special purposes, such as spuvenirs and for manufacture into articles of personal adornment. No encouragement by this Department has been given to the demands of manufact* nrers, on account o f t h e mutilation incidental to the use of coin for the purpose indi©aied. A notable demand for this coin for shipment to China aud Japan for manufacture inlo necklaces, bracelets, etc., has for many years existed, and still exists. Indeed, a premium is often put by dealers on this coiu, so t h a t in spite of the eiforts ofthis Department the larger part of the supplementary coinage is believed still to be absorbed by manufacturers of articles ofthe kind indicated and for shiyjinent. A measure in the terms of the bill in question would relieve this Department from the necessity of further issuing proofs, which have a tendency to become enhauced in value from the absorption for illegitimate purposes of the supplementary coinage designed to prevent such enhancement. D O U B L E - E A G L E COIJs^AGE. I now pass to the jiroposition contained in the same hill for the limitation of the coinage of double eagles to 20 per centum of gold bullion deposited in the mints and j)aid for and belonging to the United States under the provisions of section 3545 of the Revised Statutes. Theoretically and technically considered all permanent deposits of gold at United States mints and assay offices are made for coinage. Under section 3544, Revised Statutes, it is provided that, " In the denominations of coin delivered, the superintendent ^ ghall comply with the wishes of the depositor, except when impracticable or inconvenient to do so." I t seems to be the right of the depositor also to receive new or fullweight coin. The demand for gold coin of the denomination of the double eagle is principally at the mint at San Francisco by hvrge depositors of gold bullion, their preferences for this denomination appearing to arise from the convenience of tale.. Its use is understood to he principall.\ in large coin transactions ou the Pacific coast and for bank reserves. The Treasury Department has undertaken to supply this demand within certain lim-itations, which have been met not without yjrotest on the part of depositors, who have urged the claim to the exercise of a free ox)tion iu the matter of denomination of coins for which deposits are made. The value of the coinage of double eagles at the mint at San Francisco has, up to the 1st of July, 1887, heen 86^ per cent, of the value of the total gold coinage executed at t h a t mint. In favor ofthe issue of double eagles for their present principal distribution and Biode of circulation there are to be stated certain important considerations. These are altogether in favor of the Government, namely : (1) the cost of coinage of a given, amount of gold, which, is in inverse ratio to the size ofthe denomination ; (2) the loss DIRECTOR OF T H E MINT. ' Ifgl hy abrasion on a given amount of gold coin and a given degree of use, wMclLasilu. inverse ratio to the diameter of the piece. Thus it appears that there is an imjDortant economy to the Government as wtellas to the holder in a given circulation of the double eagle as compared with e®iiiis<®f smaller denominations. The importance to be attached to the first consideration has been stated iam.'y disport on the Production of the Precious Metals in the United States d u r i n g t h e caiileaidar year 1885, page 86, et seq. In my last fiscal Report, page 157 (Finance Ee^30sit, page 207), will be found results of certain inquiries instituted by me to indicate ftia© practice of foreign governments in the matter ofthe exercise of an option by ?the»it©- ' positor of gold bullion as to the denomination of coin received in return. Having briefly stated the technical points which bear upon the provision «©f-Ifk'© bill in question, and called upon as I am to express my views as to the expedie«icy«of the ratio liniit of the coinage of the double eagle, I have to state t h a t it doesfBcec occur to me t h a t any advantage OA^er the present practice of the Treasury DepartmeiBt in the matter of proportioning the coinage of this piece according to the demaaad-off the public would be secured great enough to oftset the disadvantage which mtigiht arise from restrictive statutes of the kind proposed. On the other hand, I am -awsifF© of no disadvantage which arises from the present practice of the Departraent, which enables it to keep the coinage of this piece within actual requirements of depositar® frora tirae to time. It is sometimes urged t h a t the double-eagle is a popular coin for exportation t© oriental countries, and especially tp China, on the persons of returning Chinese. While this is probably true, it should be considered t h a t coin is so taken out of the country in preference to bars only in comparatively small amounts; but that for any given amount econoniy of manufacture is in favor of the exportation of the larges* piece. It should also be considered t h a t where gold coin is required for shipment or for use abroad, and where a coin of a given denomination is not available fo.r snch purpose, coins of other denominations will be used. For where the shipment of gold coin is required, no substitute is available. The double-eagle comes near a stamped ingot of small unit. Its use for export in place of smaller denominations of gold coin is clearly to the advantage of the Government. In conclusion, it will be well to point ont the importance of more explicit provisions of law in the way of restrictive legislation ofthe kind proposed. It does not ap.pear from theterras of the bill whether (1) the limitation shallapply to bullion already the property ofthe United States, (2) whether to bullion hereafter acquired aud paid for in cash from the bullion fund, or (3) whether any individual depositor shall be entitled to receive 20 per centumof his own deposi-tin double-eagles. And I may further point out t h a t while 20 per centuni of the g<ikhcoinage in double-eagles at the mlnfe at Phi:ladeli)hia might be beyond the requirements for circulation iu the East, th© same limit for the miut a t San Francisco would undoubtedly be far below the requirement.! Snch inequalities in the metallic circulation of opposite parts of the country would undoubtedly lead to a heavy cost for transfer of double-eagles from the eastern tOi the western institutions. Respectfully yours, i „ JAS. P . ' / Hon. C H A R L E S S. F A I R C H I L D , - KIMBALL, Director of the Mint. • Secretary of Ihe Treasury. I PROPOSED AMENDMEN'i S OF LAWS. Consideration is recommended of further proposed legislation as set forth in my preceding report. The several matters may here be referred to as follows: (1) Amendments to the Eevised Statutes relative to issue and redemption of minor coins. [Fiscal Eeport, 1887, p. 107.] (2) Amendment of law relating to statutory limit of subsidiary silver coin outstanding in circulation. [Fiscal Eeport, 1887, p. 108.] (3) Amendment of law relating to the sale of by-products incidental to the parting and refining of bullion at mints and assay offices. [Fiscal Eeport, 1887, p. 114.] (4) Amendment of law relating to the annual assay of coins. [Fiscal Eeport, 1887^, p. 116.] ' 166 REPORT ON T H E FINANCES. I BILL FOR THE RELIEF OF ^JAMES C. BOOTH, DECEASED, LATE MELTER AND REFINER, U. S. MINT AT PHILADELPHIA. On April 26,1886, a bill (H. E. 8256) for the relief of James 0. Booth, melter and refiner of the mint at Philadelphia, was introduced in the House of Eepresentatives, read twice, referred to the Committee on Claims, and ordered to be printed. On the 21st of March this honored and venerable officer expired, after nearly thirty-nine years of remarkable usefulness in one of the most responsible offices in the mint service. The same bill, adapted to the circumstance ofthe decease of the beneficiary, was introduced in the Senate by Mr. Cameron (S. 2735) April 19, 1888, and referred to the Committee on Finance. This bill was as follows : For the relief of the heirs and legal ropresentatives of James C. RootL, deceased, late melter and refiner of the mint of the United States at Philadelphia. • Be it enacted by the Senate and House of Bej>resentatives of ^ Ihe United States of America in Congress assembled. That the Secretary of the Treasnry be, and he is hereby, authorized and requiied to pay [to the heirs at law and'legal rei^resentatives of] James C. Booth, deceased, [late] melter and refiner of the mint of the United States at Philadelphia, out of any money in the Treasnry uot otherwise appropriated, the sura of one thousand eight hundred and forty-one dollars and eighty-seven cents, in full for the cost value of one thousand nine hundred and eighty ounces andtwelve-hundredths of an ounce of silver bnllion, of standard fineness, deposited by him with the superintendent of the mint at Philadelphia to make good a deficiency of that amonnt of bullion in the accounts of the mint for the fiscal year eighteen hundred and eighty-five, the same being the number of ounces of standard silver bullion contained in three bars missing from said mint, supposed to have been stolen while in the chargeof the •melter and refiner, but for which safe storage could not be provided, for want of vault capacity in the mint. - On the 27th of April, 1886, the Director of the Mint addressed to the chairman of the Committee on Claims, House of Eepresentatives, the following communication on the subject of the above bill: TREASURY DEPARTMENT, BUREAU OF T H E M I N T , Washington, D. C , April 27, 1886. SIR : Referring to H. R. bill 8256,' for the relief of James C. Booth, melter and refiner o f t h e mint of the Uuited States at Philadelphia, introduced in the Hou,se of Representatives yesterday by the Hon. Samuel J. Randall, and referred to the Committee on Claims, I have the honor to invite the attention of your honorable committee to the following statement. On page 14 of my annual report for 1885, with reference to the mint at Philadelphia, appears the following : *'The melter and refiner had received duringthe year 646,626.931 standard ounces of gold bullion, with a wastage of 7.885 ounces; and 28,936,069.91 standard ounces of silver bullion, with an apparent wastage of 3,541.93 ounces. It appears, however, t h a t on January 3, 1885, silver bars numbered 7087, 7093, and 7113, containing 1,980.12 ounces of silver, not having been melted, were missed by the melter and refiner and the loss comraunicated by letter on the next working day to the superintendent. The wastage thus far actually allowed hini was only 1,561.81 ounces." This maiter is again referred to on page 20 of the same report as follows : ' ' F r o m this mint (Philadelphia) were missing silver bars containing 1,980.12ounces of silver, valued at |il,936.62, the supposed theft of which, in the winter of 1884-'85, is now under investigation. Though promptly reported to the general department by the operative ofhcer to whose custody such bars are technically committed, neither the theft ofthese bars nor the specific deficit equivalent to their value was duly reported to this Bureau until so reported by the present superintendent. The specific deficit created by the loss of theise bars is at present borne on the books in a ' suspense account,' there seeming no justification for charging it as wastage, as, from the circumstance t h a t it was not dnly reported, seerns to have been proposed." It was found necessary to hold the melter and refiner technically responsible, under section 3508, Revised Statutes, for the 1,980.12 ounces of silver as aboA^e. Upon the demand ofthe Burean, the melter and refiner has promptly de^^osited with the superintendent of the mint at Philadelphia this quantity of silver. DIRECTOR OF T H E MINT. 167 The '^suspense account," specially opened for the purpose in the books o f t h e mint a t Philadelphia and to which was provisionally charged this amount of silver, has ^Jl)een credited Avith the same amount, and therefore closed. The facts as briefly recited by me in my annual report will, so far as the melter and refiner is concerned, l),e seen to leave hone but technical grounds for the responsibility of t h a t officer in t h i s case, ho question arising as to the faithftil discharge of his duties, or as to the •exercise of due vigilance in the matter of the custody of silver bullionReferring in my report to the unsatisfactory conditions of the storage of bullion and coin in mints and assay offices, under the exigency ofthe accumulation of silver •coin w-hich the Treasurj^ has not found it expedient to remove, I instanced the hecesisary exposure of bullion in the court of the miut at Philadelphia, where the thefts -were committed. Although responsible for all bullion delivered at the mint and obliged to receipt for the same, the melter and refiner is without the power to provide extra means for t h e safety of w h a t is beyond the capacity ot his own vaults. The melter and refiner -is thus to be exoneratecl from moral responsibility. ' In my report, as above quoted, it is stated t h a t " t h e melter and refiner had received <1 uring the year * ^ ^- 28,936,069.91 standard ounces of silver bullion, with an apparent wastage of 3,541.93 ounces," and t h a t " t h e wastage thus far allowed him, •was only 1,561.81 ounces." ' Section 3542, Revised Statutes, precludes the loss corresponding to the quantity of '•silver stolen being charged to " w a s t a g e , " as it clearly can not be classified as " &ow,a JifZe waste." In view, however, of the facts here presented, and of the exceedingly i-sraall proportion of wastage as compared with the large amount of-silver operated ^ipon, I have the honor to recommend, as an act of simple justice to the melter and refiner, that the relief asked for in bill 8256 be recommended by resolution of your iionprable committee for enactment hy Congress. -^ Very resijectfully, . J A S . P . KIMBALL, I Hon. ^ Director of the Mint. W I L L I A M M. SPHINGE.R, Chairman Committee on Claims, House of Bepresentatives. On the 3d, of February, 1887, the following communication was addressed to the Secretary of tbe Treasury with reference to a letter of the chairman of the Committee on Claims, House of Eepresentatives, on the same subject: T R E A S U R Y D E P A R T M E N T , BUREAU OF THE M I N T , Washington, iJ. C , February 3, 1887. S I R : In reply to ydur reference of the inclosed letter of the chairman of the Committtee ou Claims, House of Representatives, I have the honor to state t h a t the claim of Dr. James C. Booths melter and refiner of the United States mint at Philadelphia, • for 11,841.87, is based on the payment by him of this amouut, corresponding to the value of 1,980.12 standard ounces of silver stolen in the winter of 1884-'85 while technically in his custodj^ frora the fact of his having receipted for the same. His responsibility, as a matter of fact, was thus only technical, owing to the circumstarice t h a t no provision was made by the superintendent for the safe custody of silver bullton for want of vault room. It was therefore stored in the court of the mint and thus exposed to depredation, a -circumstance over which the melter and refiner had no control. When called upon by me to make good the deficiency charged to him this was done ..without demur, a n d the account closed on the books of the mint. All the circumstances in the case, with their technical hearing, were related by me in my report for the fiscal year 1885, pages 14 and 20, and again referred to in my report for thefiscal year 1886, pages 13 and ^3. A statement in detail was subraitted on April 27, 1886, to the honorable chairman of the Committee on Claims, House of Representatives. Both in my two reports and iu iny letter to the chairman I h a v e urged the favorable consideration of Dr. Booth's claim, as an act of simple justice to this efficient and venerable officer, who has grown old in the position which he has held for nearly forty years. : Very respectfully,. JAS. ' The P.^KIMBALL, , Director of the Mint.. SECRETARY OF THE T R E A S U R Y . 168 REPORT ON THE FINANCES. So far as this Bureau is informed no action on the above bill was^ reached by the Com mittee on Claims in the Forty-ninth Congress, nor by the Committee on Finance in theiirst session in the Fiftieth Congress.*^ TECHNICAL OPEEATIONS OF MINTS. In my last report (p. 139 et seq.) attention was briefl}^ called to certain defects in the technical operations of mints of the United States^ as exhibited by working results compared with those of foreign mints and private manufacturing establishments. A comparison of the mint practice of the United States with that of advanced countries in Europe is unequal in several important particulars. While European institutions are favored with permanent organizations, skilled superintendence as well as skilled operatives, the mintsof the United States, in common with the whole mint service (with thesingle exception of the clerical force of this Bureau), are subject to quadrennial changes in the whole personnel, a remarkable fact obviously incompatible with tbe practical interests and business methods of a high class of manufacturing establishments, as the mints and the assay offices of the Government should always be considered. Whatever degree of economy and skill be from time to time attained by these public institutions must be attributed to tbe degree of moderation on tbe part of superintendents in the exercise of practically plenary power of appointment conferred by section 3504 of tbe Eevised Statutes. The continuance, through personal and poll laical changes in the administration of tbe G-overnment, of the term of skilled operative and fiduciary ofQcers, not appointed-by the President, and experienced operatives, while in some riieasure due to forbearance on the part of superintendents in exercising the power of dismissal involved in the specific power of appointment, must be more directl}' ascribed to necessities of the public service, and to good purposes personal to superintendents: not to any provision of law for the maintenance of economy and skill,, not to say efficiency, in tbe practical operations of the mint. By checks and tests applied by law and by tbe Treasury Department to the produce of tbe several institutions, the efflcienci/ ofthe service is secured, but with what'degree of economy sustained is a question as to'which I have felt bound to institute some detailed inquiries. Another circumstance in favor of European institutioris as compared with those of the United States is one to which attention has been *In a memoir, read before the American Philosophical Society October 5, 1888, by Mr. Patterson DuBois (In Memorham James Curtis Booth, Ph. D., LL..D.), the follow*^ ing appears as an extract from a private letter, written by Dr. Booth in October, 18-^7,. and may here be cited by way of aiding an^ understanding of the grounds for relief: '^ The whole truth is,-that the constantly increasing business ofthe mint beyond, itscapacity for bullion storage has been Increasingly weighing down my anxious thoughts' for its safety, and you may add to t h a t the consciousness that I was personally responsible for every ounce of bullion received, aud then you will readily perceive sufficient ground for a constant, anxious care, which I sometimes imagined to be as the squareor cube ofthe extra quantity of bullion continually ponied in. * ^ * It was thatconstant and constantlj^ augmenting ounce for ounce responsibility t h a t finally affected my mind, and I rather think broke me down, I went home quite sick frora t h e mint early in April, and lay on my back for about three months. I supposis tbat such, a statement will be quite sufficient to explain my present position. I am glad to say t h a t I had sufficient strength to resign from my place in the mint, although no one is yet appointed to take my place. * * * From my age, over seventy-seven, I hardly expect restoration of full, strength, and am satisfied with what Providence designs.'^ DIRECTOR OF THE MINT. 169 called b}^ others.* Allusion is here made to the extension and complexity of the mint service from the multiplicity of institutions, which may be said to be double the number for whicli there exists any presentnecessity. Two mints are all that are required by the Eepublic, one on the Atlantic and tbe other on the Pacific seaboard. The mints at Philadelphia and San Francisco are, or easily could be, adapted to all requirements for coinage. Tbe increase of this number of institutions entails an unnecessary expenditure for a given coinage, and a cost of production high in comparison with what it is in other countries and should be in this Eepublic, as well as a cost for transportation and distribution of coin (|uite out of proportion to benefits local to points where other mints have been established. The particulars of mint practice noted in my last report were by way of exhibiting the disparity of results obtained at our several mints, aswell as the superior economy of work at certain mints of the more advanced countries of Europe and their colonies. Tbese particulars were' indicated in tbe hope that operative officers in the several institutions^ might be induced to investigate the cause of unfavorable differences^, with the purpose of overcoming whatever might be found not to arisefrom defects inherent to the organization of our mint service, or not^ beyond remedy within their power to apply. This hope has not met with disappointment. Tbe mint at Philadelphia, which by law is intrusted witli the greatest number of separate operations, and which on account of its location and equipment, rather than size, is called upon for a volume of coinage in excess of the contribution of otber mints, has conducted through its operative officersjudicious experiments, some of which promise valuable results if zealously prosecuted in the* same spirit in which they were undertaken, and if ev^entually incorporated into practice. The experiments referred to relate as follows: (1) To the preparation of the alloy in a condition of greatest ductility, and to a determination of the best form ot ingot forthe subsequent, operations of rolling and cutting. (2) To the rolling, and incidentally to tbe question of annealing, as afactor in tbe production of uniform fillets, even with rolls of precision.. (3) To tbe problem of readily adjusting heavy blanks. If satisfactorily solved, as seems likely, the i)resent question, what to do withj light blanks, will cease to be of practicaPimportance, vSince the production of these in large numbers will be avoided when heavy blanks can be expeditiously reduced to standard weight. Alloy.—It is well known that oyly the very best grade of copper should be used in making either silver or gold standard alloy. The deleterious efiect of copper oxide in an otherwise pure metal, on tbe alloys into wliich it enters, seems not to have received tbe attention which the phenomenon deserves, although, in his work on tbe Eoyal Mint, mentioned by Mr. Ansell in tbe case of gold alloys. Dr. Percy states that copper may dissolve as much as 13.5 per cent, copper oxide.. It is also well known that best commercial copper becomes brittlefrom over-poling or if remeited under charcoal. ^ ^ It had been tbe practice at the mint at Philadelphia to remelt all purchased copper ingots tor the purpose of subdivision, as well as for the sake of convenience in making up melts. This remelting, unless skillfully accomplished, renders the copper brittle, and it is quite con* See Engineering and Mining Journal, July 14,1888. 170 REPORT ON THE FINANCES. ceivable that this property is imparted to alloys into w-hich such deteriorated metal enters. It having been suspected tbat frequent defects developed by ingots in rolling, and their irregular occurrence, might be due to notable quantivties of copper oxide in the alloy, the practice of preparing copper for alloy by a preliminary remelting was abandoned, except for such small volumes as are necessary to adjust weights in making up melts. Ingots, tough and ductile and otherwise in the same condition as when pur"Chased, are simply cut throogh one of the bridges and weighed into the melts. ^ • The result has been in the highest degree satisfactory. The return vto the melter of brittle ingots of standard silver and of fillets with -crushed edges is believed to have ceased. In a test recently made, dollar ingots, one-half inch thick and IJ inches wide, were reduced by successive draughts in the break-down rolls to a thickness of yf^Q- inches without annealing. The metal was still tough, and the process of rolliing might evidently have been carried much farther, But a much more interesting observation is, namely, that the form of the ingot has a marked ett'ect on tlie edges ofthe fillet obtained from it. The moulds"habitually in use bave been made with a liberal flare or ''draft," for the sake of convenience in dropping the ingot, regardless of any evil from the degree of angles in their section. It appears, however, t h a t when tbe face of the ingot is materially wider than the back, the "Unsupported marginal portion is, in rolling, continually crushed over until all tenacity is lost, whence a jagged or serrated edge if not a ruined fillet. I t has been found that by dressing out the mould so that its section varies but slightly from rectangular, the ingot will still drop out freely, ;:and, without annealing,, may then be rolled, from one-half inch to the thickness of a finished dime or less, while still preserving a perfect ribbon-like edge. Tbe marked difference effected by the device seems <imte disproportionate to its simplicity. •* Annealing.—Blanks were cut from dollar fillets prepared without annealing or drawing, and their uniformity in weight compared with similar blanks cut from fillets rolled and drawn in the usual way with two .annealings. The results were in favor of unannealed fillets, It is desirable that more • extended experiments be made in the same direction. Facts, however, have been ascertained tending to show that many of ^the inequalities attributed to ^defective rolls are properly chargeable to iineven temper in the annealed fillets, and that only tbe most perfect ;a.nnealing is better than no annealing. I t was also observed that want.of uniform temper in the fillet affects in two ways tbe weight of the blanks. If a number of blanks be cut from a hard fillet, leaving spaces between the perforations, and the remaining part ofthe fillet be now annealed and blanks cut by tbe same punch, alternate blanks of hard and others of soft temper will be prociuced, all having as near an approach to uniform thickness as'can be attained. It will then be tbuncl that the, hard blanks are materially heavier than the softer ones. A difference of 8 grains from this cause alone has been observed in dollar blanks. The reason is notfar to seek. The edges ofthe soft blanks are somewhat drawn in cutting, and hence .are thinner. Convexity not found in the harder blanks is thus imparted to the surface of soft blanks. The diameter of tbe former is also slightly greater. IN'ot only will hard places in fillets resist compression under •the rolls, but, as it appears, a punch will cut from sucb harder parts a *blank fuller than from soft fillets. DIRECTOR OF THE MINT. 171 These facts show that imperfect or' unequal annealing must tend to 'negative all the good results expected from tools of precision. And in present practice it wall probably be difficult to find an annealed silver fillet as nniform in temper as the ingot from which it was made. Probably no manufacturing industry treating great volumes of metal requires such precision in rolling as the manufacture of coin. Most, if not all, so called rolls of precision would probably fail to prove themselves such under the severe requirements of preparing fillets for coin. •One-thousandth of an inch in the thickness of a dollar blank represents the weight of nearly 5 grains. Variance of less than 5 grains from standard weight causes condenination of blanks. In view therefore of the difficulty of obtaining rolls of enduring precision uncier unremitting and heavy work, and so long as the practice of annealing remains unsettled and imperfect, it is probable that in the near future, at least, we must continue to deal with blanks which will, in the case of tbe standard dollar, vary from 1 to 6 or 8 grains. The problem which, if solved, would the earliest give good results is, in a 'simple and easy manner, to bring such blanks within the adjusting limit. The preliminary work, in' the presentJine of inquiry, done at the mint at Philadelpbia seems to promise practical results of value in this direction. ' The plan of selecting fillets by weighing a sample blank cut from each fillet, and then sending the selected fillets to cutting-punches varying slightly in size, fails to be a practical solution of the problem, for the reason that blanks of greatly varying weight may be cut by the same punch from different parts of a single annealed fillet. If varying blanks, as now received from the cutting-presses, be as'Sorted according to nearly similar weights, it will then be practicable to subject selected blanks to a recut in an appropriate press, and thus to adjust them all to a given weight. A recutting-press, similar in genieral construction to the ordinary cutting-press, is provided with a proper device for placing the rough blanks accurately under a punch slightly less in diameter than that by which they were originally cut. Thus from off' the periphery of the blanks is taken a slight shaving, which differs in amount with the diameter of the recutter to which it is sent. A hand-press of this kind has been tested at the mint at Philadelphia. A series of dollar blanks were weighed, and the weight taken from each was accurately noted. The average cnt was 5.04 grains per blank, while the highest was 5.4 grains and the lowest 4.5 grains. This is one of many experiments going to show that by a recnt uniformity of weight may be obtained with nearly the same accuracy as in the selection and distribution of the rough blanks. This selection, of course, may be made either by hand or by mechanical separators. I t is thought that three sizes of cutter, varying by one tb two thousandths of an inch in diameter and used on three selected weights of '' heavies," would bring all within easy adjusting limit. The pieces would be placed in a tube and fed to the cutter by a mechanical feed, like that of a coinage-press—80 to 100 per minute. It might be considered bad practice to take as much as 5 to 7 grains from the periphery of a blank. But it has not been found that tbe reduced blank fails i^o fill out the collar in tbe coining press. Indeed, the recut leaves a superior edge, grearly to the perfection of the reeding on the coins. The result of a test on 100 coins reduced from 419 grains by recut was entirely satisfactory. If tbis device be found equal to an expeditious and economical reduction of heavy blanks, it wall evidently be desirable to avoid the cutting of light ones by running fillets slightly heavier than in present practice,. 172 REPORT ON T H E FINANCES. Eesults of another series of ex:periments also in line with the suggestions made iu my.last fiscal report, havebeen contributed by operative officers of the mint at Pbiladelphia. Too voluminous for reproductionhere, and, so far as they are positive rather than negative, tending to confirm methods of present practice, they tend to indicate that t h e draw-bench comes nearer a tool of precision in the production of fillets^ than any rolls employed for tbe purpose of the experiment. But no general conclusion can be reached on this point without further experiments, and with rolls superior to those thus far employed. Experiments have also been made to ascertain the relative production of coin after rapid cooling of ingots on the one hand and slow cooling on the other. These are exhibited as follows: COIN PRODUCED AND F I L L E T S BLISTERED I N ANNEALIN^G [ J A N U A R Y , ' 1 8 8 8 , ] FROM S I L V E R DOLLAR INGOTS, R A P I D L Y AND SLOWLY COOLED AFTER CASTING. . • " Blistered Ingots fillets Ingots annealed Producand in each in eacb tion in broken beat. beat. ingots re- coin. jected. 13o. 1 2 3 4 5 6 7 8 9 Ingots after casting cooled in tbe usual or rapid way b.y immediately diiDping red-bot into water, afterward, wbile still warm, immersed in diluted sulphuric acid for cleansing purposes, and again dix^jped iuto water to remove tbe acid. Tbe fillets from annealing cooled quickly in water Ingots and fillets after annealing treated iu the sarae manner as above Ingots cooled in tbe same manner as in the two former cases. One-iialf of tbe nuraber of fillets of tbis lot, alter annealing, were allowed to lose their bright-red color by exposure to the air before final cooling in water. Ingots cooled in the same way as Nos. I and 3 and fillets after annealing cooled gradually in the air like part of No. 3 These ingots were permitted to cool slowly inthe air until the red color had disappeared and then plunged into a bath of weak sulphuric acid, after wbicb tbey were given a water-bath to rinse off the acid. The fillets, after annealing, were cooled in tbe open air, from a bright cherry-red color, for a period of about ten rainutes, and were then dipped into water Ingots and fillets, after annealing, worked in tbe same way as tbe preceding lot do do do 70 50 .007 •. 448'- 70 50 .007 . 466> 70 50 -.006 .453r 70 50 013 .485 70 50 .012 . 50? 70 70 70 70 50 50 45 50 .013 .015 .008 .011 . 442.466 .497.511 Average production, ingots cooled rapidly: blistered fillets, .008 per cent.; coin product, 463 per cent. ' . Average production, ingots cooled slowly : blistered fillets, .012 per cent.; coin product, .485. per cent.' DIRECTOR OF T H E 173 MINT. The following exhibit of working results is sufficiently explicit without verbal explanations. Eemarkable disparities in economy of results seem to be in favor of those institutions whose operations are the least miscellaneous, especially in point of variety of coinage, and tbe least <€xtensive in number of coins executed and distributed : PERCENTAGK OF CONDEMNED BLANKS TO BLANKS CUT. Coinage mint. Philadelpbia. Fiscal year. 1885 1886 1887 1888 1885 1886 1887 1888 Gold. 18 24 23 28 9 12 21 20 8 7 9 14 N e w Orleans. Gold. Silver. 9 11 8 5 8 10 1 Gold. Silver. 10 14 27 26 23 32 , " 8 22 OF C O I N P R O D U C E D 1883 1884 1885 1886 10 COIN 10 12 64 TO INGOTS O P E R A T E D 5^5 52.5 53. 3 52.8 53.9 54.7 , 54.3' 46.8 . 54.7 52.0 47.4" 47.5 44.1 47.2 46.3 35.3 33.8 25.2 40.0 1887 18'88 10 5 8 11 9 8 10 16 9 8 6 5 39 " OF CONDEMNED BLANKS TO GOOD C O I N P K O D U C E D . — G O L D AND S I L V E R DOLLARS. PERCENTAGE MELTS Silver. -• PERCENTAGE Silver. • Gold. ..: Carson. San Francisco. 50.9 ON. 51.6 53.2 46.5 . 25.3 OF INGOTS M A D E AND N U M B E R CONDEMNED AT T H E M I N T S OF U N I T E D STATE DURING THK F I S C A L YEARS 1882-1888. SAN FRANCISCO. 9 6 5 56.0 56.3 THE ' Silver ingot melts. Gold i n g o t m e l t s . iFlscai y e a r — Condemned. Made. 1882 1883 1884....: 1885 1886 1887 1888....: Total Condemned per cent.. • Made. Condemned. 958 901 767 677 935 958 890 8 5 4 1 0 2 3 10,719 7,509 5, 539 2. 619 1,086 0 2,821 4 C,086 23 .38 30,293 37 .12 20 12 1 0 174 R E P O R T ON T H E FINANCES. MELTS O F INGOTS M A D E AND N U M B E R CONDEMNED AT T H E M I N T S O F T H E : U N I T E D S T A I E S DURING T H E F I S C A L YEARS 1882-1888—Contiuued. PHILADELPHIA. 1882 1883 1884 1885 1886 1887 1888 1,333 ]78 ]09 65 • . . . . 17 • 6 5 9 0 208 7 ]84 Total 13 53 2.5 2,084 Condemned 3 per cent.. 6, 502 7, 328 8,281 9,142 32' 46^ 64 20-^ 80 12278" 12, 867 14,146 12, 932. .451 .63 71,198 N E W ORLEANS. Silver ingot melts. Gold i n g o t - m e l t s . F i s c a l year— " Condemned. Made. 1882.. 11 1883 1884 1885 1886 * ' 2 1887 1888 ' Total Condemned.: 23 20 7 3 56 14. .25 percent Condemned. Made. 922 1,565 1,819 2,059 1,838 2,146 2, 342 6 22 10107 1014- 12, 691 79 .61 W O R L D ' S A N N U A L PRODUCTION OF GOLD AND SILVER. In the Appendix will be found a table compiled principally from ofiicial communications furnished by foreign governments through the Department of State at the instance of this Bureau, and revised from latest information, showing the production of gold and silver by the principal producing countries'for the calendar years 1884:, 1885,1886, and 1887. The product is expressed in terms of kilograms and values. The value of silver, wherever the calculation has been made by tbis Bureau^ will be understood to be at the coining rate in Uuited States silver dollars of $41.56 to the kilogram. A r6sum6 of the total product each year is here presented : WORLD'S PRODUCTION O F GOLD AND S I L V E R F O R 1887, W I T H ^ ESTIMATE F O R T H R E E P R E C E D I N G YEARS. REVISED Silver. Gold. Calendar years. Kilograms. 1884.1885 1886 1887 . 153, 017 156,103 149, 355 149,048 Value. $101, 694, 000 103,744, 000 99, 250, 877 99, 056, 850 Kilograms. . 2,665,386 2, 954, 766 3, 027, 632 3, 259,144 Value. $110, 122, 125, 135, 773, 000' 799, 800828,400. 449, 410 175 DIRECTOR OF T H E MINT. For reasons stated in my Eeport on Production of the Precious Metals for the calendar year 1887* the estimate employed by tbis 'Bureau for production of silver in Bolivia has been reduced from sixteen to ten millions of dollars. The silver product credited to Germany in 1887 is some $5,000,000 inexcess of prior years. It is probable that thereis a duplication of at least this amount in an estimate ofthe silver product of the world by crediting to Germany silver extracted from foreign ores previously credited to exporting countries^ But as this Bureau has no satisfactory information as to the amount or value of sil v^er obtained from foreign ores, theonly deduction made from Gerihaiiy^s product has been 88,000 kilograms, the amount stated by Dr. Soetbeer for 1884. As the product of the silver miues of Germany has not materially iucreased, it is obvious that more than 88,000 kilogramswas .red need from foreign ores. It will be noticed that the production of gold has remained nearly constant, although increasing slightly in 1885 from that of 1884, and decreasing slightly iu each of the year.s 1886 and 1887. The production of silver, on tbe other hand, shows a steady increase of $12,000,000 from 1884 to 1885 ; $3,000,000 from 1885 to 1886, and nearly $10,000,000 from 1886 to 1887, an increase in four years of $25,000,000. WORLD'S COINAGE. In the Appendix (on page 282) will be found a table showing the value in United States money of the coinage of gold and silver during the calendar years 1884, 1885, 1886, and 1887 by each of the nations of the world. It will be noticed that the coinage reported for Mexico and for Brazil is for fiscal years. I t is believed that this table includes substantially the entire coinage of the world for the years mentioned. The following summary is presented : W O R L D ' S COINAGE. Calendar years. 1884 1885 1886 1887 ... Gold. $99, 432, 795 95, 757, 582 94, 642, 070 . 124, 992, 465 • Silver. $95, 832, 084 126, 764, 574 124, 854,101 160, 984, 877 The large increase in coinage of silver, as well as gold, in the calen» dar year 1887 is noteworthy. In regard to coinage of^silver it may be stated that in addition to coinage of full legal-tender silver by this Eepublic and by Mexico, India, and Japan, a large recoinage of old " pillar" dollars, coined prior to 1868, into full legal tender silver 5-peseta pieces was executed by Spain. A large silver coinage was also executed at the mints of Aus-. tria-Hungary, consisting partly of *^ Maria Theresa'^ silver thalers for circulation in the Levant, and of silver florins for domestic use. Thegreater proportion of the other silver coinages consisted of limited legaltender silver. ' ^ Vide p. 67.. 176 REPORT ON T H E FINANCES. As the coinages reported above included recoinages to a considerable amoiidt, the following table, compiled from official sources, has been prepared, showing, as fully as the information at hand will permit, recoinages by certain nations: that is, mint deposits of domestic' and" foreign coins for recoinage, during the calendar year 1887 : RECOINAGES Countries. REPORTF:D R e c o i n a g e of domest i c coins. B Y C E R T A I N NATIONS, V a l u e in United States money. iRecoinage of fore i g n coius. 1887. Value in United States money. Total recoinage. ' Value. GOLD. 'Great Britain India 2,301,206 p d s . s t e r . . . $11,198, 819 4,250 481, 243 8,970 r u p e e s A u s t r i a - H u n g a r y 998,430 florins....... •Germany •Japan 110 y e n Australia 524 p o u n d s s t e r l i n g . U n i t e d S t a t e s . . . . 536,511 d o l l a r s Total 990,950 florins 63,433 p o u n d s . . . . $477, 637 1, 509, 705 $11,198, 819 4,250 958, 880 110 2,550 536, 511 15,.575,958 d o l l a r s . - 15, 575, 958 1, 509, 705 110 2,550 16,112, 469 12,223,483 17, 563, 300 29 786 783 " SILVER. • Oreat Britain India France Bpl'Tirim JE(:rvT)t '*-'{-! J .t"^ s'^^Tn United States 1, 721, 918 2, 434, 284 1,923,888 r u p e e s . . 1, 719, 742 1, 515, 400 76, 380 1, 846, 714 109 59,012,510 p e s e t a s . . . .11,389,414 8,309,068 d o l l a r s . . . . . 8, 309, 06St 250,606 d o l l a r s . . . . 353,831 p o u n d s s t e r . 5,138,874 r u p e e s 8,910,583 francs * . . . 7,800,000 florins 190,000 g u l d e n 373,602Egn. p o u n d s . 109 y e n . . 29, 013, 029 Total 911, 345 1 721 918 3, 345, 629 1,719,742 1 515 400 76, 380 1, 846, 714 109 250, 606 11, 389,-414 8, 559, 674 1,161, 951 30,174, 980 * Consisted of old national and papal coins. t Includes $7,789,374.57 (coining value) trade-dollars. MONETARY STATISTICS OF FOREIGN COUNTRIES. In continuation of annual statistics of coinage, production, and movement of the precious metals in foreign countries, a list of interrogatories proposed by this Bureau covering the calendar year 1887 •was transmitted by the Secretary of State to the diplomatic and consular representatives of this Government in foreign countries. At the date of publication of the last fiscal report of this Bureau, replies to the circulars of two preceding years, 1885 and 1886, had not been received from all of the foreign countries addressecl. As, in some <}ases, communications from foreign Gov^ernments, published in the Appendix, contain answers to questions referred to by numbers only, the three sets of interrogatories for the calendar years 1885, 1886, and 1887 are here appended. * INTERROGATORIES ADDRESSED TO T H E REPRESENTATIVES OF T H E UNITED STATES I N FOREIGN COUNTRIES, CALENDAR YEAR 1 8 8 5 . (1) W h a t is the legal unit of account "^ (2) What is the legal standard: Double, single gold, or single silver? If double, ^X> what ratio between t h e two metals ? . .(3) VVhat is the weight in grams of each of t h e gold coins authorized by law to be •coined, and what is the fineness expressed in thousandths ? DIRECTOR OF T H E MINT. 177 (4) Same for silver. (5) Is the mint open to deposits by individuals of gold and silver for coinage, or of one metal to the exclusion of the other? (6) In case of deposits by individuals of gold and silver, what coinage charge, if any; is imposed on each metal ? (7) For what amount are gold coins a legal tender in the payment of debts or Government dues ? (8) Same for silver. (9) What is the "tolerance" or ^^mint remedy" allowed by law in coinage on eacHi piece,-both as to weight and fineness—that is, what deviation is allowed from the legal standard? (10) What are the legal provisions as to the recoinage of worn gold and silver coins t(11) What was the amount'of gold coined during the calendar year 1885, by denomin ati pus and value ? (12) Same for silver. (13) What has been the total coinage of gold froni the establishment of the mint f" Amount recoined? (14') What has been the total coinage of full legal-tender silver from the establisbment of the mint ? Amonnt recoined ? (15) What has been the total coinage of subsidiary or limited-tender silver from v the organization of the mint? Amount recoined ? (16) What w^as'the Aveight, expressed in kilograms, and the value of the gold pra-dnced from the mines during the calendar year 1885? (17;) Same for silver,. (18) The import and. export of gold and silver coin and bullion, separately, duringthe calendar year 1885 ? • (19) Estimated amount of gold coin in the country ? What proportion in active^ circulation ? (20) Same for full legal-tender silver. (21) Same for limited-tender silver. ^ (22) Amount of paper currencj^ outstanding December 31,1885; Government a n d . bank notes separately ? (23) Copy of the coinage laws and regulations of the mint as to coinage. INTERROGATORIES ADDRESSED TO THE REPRESENTATIVES OF THE UNITED IN FOREIGN COUNTRIES, CALENDAR YEAR 1886. STATES (1) W h a t was the amount of gold coined during the calendar year 1886, by denominations and value? What amount was recoined. during the year? (2) Same for silver. (3) What was the import and export of gold coin and of gold bullion during t h e calendar year 1886? ''4) Same for silver. (5) What was the weight, expressed in kilograms, and the value of the gold pro-duced from the mines during the calendar year 1886? . (6) Same for silver. (7) Were any laws passed during the year 1886 affecting the coinage, issue, or legal- ^ tender character of the metallic and paper circulation ? If so, please transmit copies.. (8) Is the denomination of gold coin paid for deposits of bullion optional with the>private depositor at the mints or other receiving institutions ? (9) Is there, in the case of gold coins, any restriction upon the issue of different:, denominations; and, if so, in what branch of the Government is discretion in thisma,tter reposed? (10) In case o f t h e existence of bureaus of guaranty or departments o f t h e Governiment for the verification and stamping of articles of gold and silver, and a collection? of a tax for the same, report the amount of tax collected and the corresponding weight in kilograms and the value of manufactured goods—gold and silver separately. NOTE.—Any information in line with the researches of the Bureau of the Mint of the United States in the industrial consumption'of the precious metals will be very acceptable. Coin and bullion should be given separately where practicable. INTERROGATORIES ADDRESSED TO TPIE REPRESENTATIVES OF THE UNITED STATES IN FOREIGN COUNTRIES BY TPIE BUREAU OF TPIE MINT, THROUGH THE DEPARTMENT OF STATE, CALENDAR YEAR 1887. ' ^ (1) What was the amount of gold coined during the calendar year 1887, by denominations and values? What aniount was recoined during the year, national and foreign coins separately? (2) Same for silver. ' H. Ex. 2 12 178 R E P O R T ON T H E FINANCES. (3) In case of an organized mint service, give name and official title of chief officer, and location of mints. (4) What was the import and export of gold coin and of gold bullion during t h e calendar year 1887? Coin and bullion should be given separatel}^ where practicable. (5) Same for silver. (6) What was the weight, expressed in kilograms, and the value of the gold produced from the mines during the calendar year 1887 ? , (7) Same for silver. (8) Were.any laws passed during the year 1887 affecting the coinage, issue, or legal tender character of the metallic and paper circulation ? If so, please transmit copies" Supplemental to the information received in answer to the circulars ofthe Burean ofthe Mint, much valuable statistical matter in the way of official publications, extracts from some of which will be found in the Appendix, has been received at this Bureao. Among the most important official publications may be mentioned the following: Eighteenth Annual Report of the Deputy Master ofthe Eoyal Mint, London, 1887; Direction Gen^rale des Monnaies et M6dailles, Compte-rendu pour TExercice, Paris, 1885 and 1886; Proposta e Relatorio, Eio de Janeiro, 1887 ; Miscellaneous Statistics Eelating to the Finances of British India, Calcutta, 1888 ; Financial Statement for 1888-^89, Calcutta; The Gold Fields of Victoria, Eeport ofthe Mining Registrars, September 30, 1887 ; also, December 31, 1887; Mining and Mineral Statistics of the United Kingdom of Great Britain and Ireland, 1887; Algemeen Yerslag van het Munt-Oollege, ^Netherlands, 1887; Second Eeport ofthe Eoyal Commission Appointed to Inquire into the Eecent Changes inthe Eelative Values of the Precious Metals, London, 1888; Koticia de la Bxportacion de Mercancias en el Ano Fiscal de , 1886 4 1887, formado bajo la direccion de Javier St4voli, Jefe de la seccion s6ptima, Mexico, 1888; Noticias de las Acunaciones 6 Introducciones de Metales Preciosos en el Alio Fiscal de 1886 a 1887 (by the same), Mexico, 1887. The replies received to the interrogatories of the Bureau of the Mint will be found in the Appendix. A brief statement of the more important contents of these papers and publications, so far as they relate to the production, use, and movement of the precious metals, is here inserted. GREAT BRITAIN AND BRITISH COLONIES. Great Britain and Ireland. Value in P o u n d s ster-' United States ling. money. I t e m s r e p o r t e d for 1887. - Golcl coinage . •. Xiiglit srold coin wlfcbdrawn from circulajtioii . . . . S i l v e r coiDage W^orn s i l v e r coin witli d r a w n from c i r c u l a t i o n I m p o r t s of gold coin a n d b u l l i o n .; 1, 908, 686 $9, 288, 620 2, 301, 206 11,198,819 861, 498 4,192, 480 3,721,918 353, 831 10, 000, 000 E x p o r t s of gold coin a n d b u l l i o n 8, 700, 000 48, 665, 000 42, 338, 550 Grain i n gold b y i m p o r t s • 1,300,'000 6, 326, 450 I m p o r t s of s i l v e r coin a n d b u l l i o n . •. 7, 680, 000 E x p o r t s of silver coin a n d b u l l i o n 7, 620, 000 37, 374, 720 ,37,082,730 60, 000 291, 990 G a i n in- s i l v e r b y i m p o r t s ,.. ^ Two proclamations of the Queen establishing new designs for coins will be found in the Appendix.* '^ See foot-note, page 285. DIRECTOR OF THK MINT. 179 Gold coins of the denominations of £5 and £2 were coined duriug the year, the former to the value of £J65,996 ($1,294,469), and the latter to the value of £,170,567 ($830,064). This is the first time during the present reign that there has been any demand for £ 5 or £2 pieces, and it is thought that all previously issued have been hoarded as specimens. The silver coiuage included a new coin of the denomination of the double florin. This is the only coin of new design that has been added to the coinage during the present reign. The number of these pieces struck during the year was 482,130, of the value of £96,426 ($469,257). The silver coinage of Great Britain during the year was the largest since 1877, except that of 1883, which was owing to the suspension of all coinage during the greater part of the, year 1882. The following coinages of silver for the British Colonies were executed at the Eoyal Mint at London in 1887: A silver coinage for Hong-Kong of the nominal value of $400,000, in 20, 10, and 5 cent pieces. A silver coinage for the Straits Settlements of tlie nominal value of $177,000, in 50, 20, !0, and 5 cent pieces. • A silver coinage for Canada of the nominal value, of $85,000, in 25, 10, and 5 cent pieces. In addition to the above the following silver coinages for the respective colonies have been executed at the Royal Mint at London since the beginning of the calendar year 1888 : A silver coinage for Hong-Kong of the nominal value of $350,000, in 20, 10, and 5 cent pieces. A silver coinage for Canada of the yalue of $180,000, in 50,25,10, and 5 cent pieces. A Silver coinage for the Straits Settlements of the nominal value of $79,000 in 50, 20, 10, and 5 cent pieces. In addition to these coinages application was received at the Eoyal Mint during the month of March for a further silver coinage for H(mgKong of the nominal value of $200,000. Messrs. Ealph Heaton & Sons, of Birmingham, executed during the year 1887 a silver coinage for the Eepublic of Nicaragua, consisting of 20, 10, and 5 cent pieces, of the nominal value of $400,000. The same firm has been engaged in supplying machinery to the Chinese governmeat, a portion of which was shipped to China during the year, for a mint at Canton. Orders in council were issued during the year regulating the currency in the colonies of Labuan and British Honduras. In the case of Labuan the Mexican dollar was declared to be the standard of value, aiud the United States trade-dollar, the Japanese yen, and the HongKong dollar and half dollar were made unlimited legal tender. In the oase of British Honduras, the Guatemalan silver dollar was proclaimed the standard of value, concurrent circulation being given to the Peruvian sol and other dollars. The Second Eeport of the Eoyal Commission Appointed to Inquire into the Eecent Changes in the Eelative Values of the Precious Metals, con:sists of a continuation of the minutes of evidence taken before the commission between the dates of June 10,1887, and December 9,1887, with appendices of tabular matter by way of exhibits by witnesses, and replies to a circular letter addressed by the commission to Mr. Pierson {tlolland); Professor Nasse (Germany); Professor Lexis (Germany); M. de Laveleye (Belgium); and Hon. David A. Wells (United States\ propounding a series of questions in regard to the fall in'the value of silver and the wholesale prices of commodities; to the extent these falls 180 REPORT ON T H E FINANCES. have resulted in material prejudice to commerce, and to the practicability of an international agreement for the free coinage of gold and silver, and to the probable efl'ect of such au agreement on the prices and production of the precious metals. / In advance of the receipt ofthe Final Eeport of the commission, tbe following brief notice of its contents is made up from, a synopsis in The London Economist, of JSTovember 10, 1888. The"report is divided into three purts. Part I, which is subscribed by all the commissioners, sets out the facts to \yhich their attention has been called, summarizes tbe arguments on either side, and states the conclusions as to which all are agreed. Part 11 presents the views of. Lord Herschell, tbe Hon. C. W. Fremantle, Sir Jobn Lubbock, and Messrs. T. H. Farrer, J. W. Birch, and Leonard H. Courtney, in opposition to bimetallism. Part H I , which is signed by Sir Louis Mallet and Messrs. A. J. Balfour, H. Chaplin, D. Barbour, W. H. Houldsworth, and S. Montagu, advocates a double standard. This part is supplemented b}^ two statements in which Sir Louis Mallet and Mr. D. Barbour respectively set forth at length their individual views and opinions. The following as given bv The Economist is a summary of Parts II and IIL Part IL We have yet to consider whether the adoption ofthe bimetallic system, even if it did effect a cure of all or some of the evils at present experienced, would be itself productive of mischief as great or greater. We have already pointed out that, sb far as the finances of India have suffered from the fall in the gold price of silver, the burden dne to this cause would then become permanent. I t is also obvious t h a t if, and in so far as, the gold price of commodities has fallen owing directly to the fall in the gold price of silver, t h a t fall would, other things remaining the same, be permanent also, and the chance of some rise in these gold prices, due to a rise in the gold price of silver, would be lost. But if, on other grounds, the adoption of bimetallism were deemed expedient, we shoukl not regard this as a fatal objection, or as counterbalancing the advantages to be obtained from it. There are other reasons against its adoption deserving of far more serious consideration. I t i s alleged that the position of England as the financial center of the world depends greatly upon the fact t h a t she bas^ and has for a long time enjoyed, a gold standard. This is no doubt strenuously controverted, and it is asserted by other authorities t h a t the financial position of England is in no way bound up with the circumstance t h a t she is monometallic, and t h a t her standard is a gold one. We need bardl^^ dwell upon the fact t h a t the financial position which this country occupies is a matter of immense importance; t h a t t h e risk even of interfering with it, or of taking any course whicb could reasonably be expected to affect it, is not to be lightly encountered ; and even those who do not entertain grave apprehensions of a disturbance of existing financial conditions, if we were to depart from monometallism and accept the bimetallic standard, can not dispute the fact t h a t t h e existence of such apprehensions is not to be treated as a trivial circumstance, or one to be lightly regarded. The danger may be enhanced by the circumstance that the mere fact of one change having been made would lead to the apprebension that others might follow. I t has not been suggested by the advocates of bimetallism t h a t we ought, if t h a t system were adopted, to prohibit contracts requiring performance by the payment specifically of one or other of tbe precious metals ; and in the present state of financial opinion and practice it seems by no means certain t h a t such contracts, if permitted, would not be common. The result ofthis might be not anly to cause some strain upon the bimetallic ratio,, b u t to send gold to a premium, and to produce considerable financial disturbance.. A further danger to be apprehended is t h a t t h e nations who were parties to the bimetallic arrangement might not continue to adhere to it. I t may be difficult to suggest any motives which should make it their interest to secede; and it may be capable of proof that any country violating the international compact would subject itself and its people to loss and serious inconvenience ; but,. DIRECTOR OF T H E MINT. I8i unhajppily, enlightened self-interest is not the only motive of tbe political action of nations, nor is self-interest always enlightened. A desire to inflict injury may often exercise as potent an influence as self-interest, and tbe idea t h a t the financial position of one country might be endangered with a resulting advantage to other coun-^ tries might well afford a sufficient motive for action. Any sucb departure from an international compact might indeed set tbis country free again to act as she chose, b u t if the result were to compel her to revert to the system she had abandoned, she would undoubtedly find herself in a position worse and fraught witb greater evils than if sbe had maintained her existing standard. At present tbe action of this country is unfettered, and not dependent u p o n t h e course taken by any other power. This condition of freedom would cease as soon as sbe became a j)arty to an international agreement. Dangers arising from this cause would be aggravated if it were found necessary, as we think it wonld be, to embody in an international agreement detailed stipulations with regard to the coinage, currency, or internal financial arrangements of the several countries joining in it. ' Another serious cousiideration is t h a t the governments as well as tbe banks and financial institutions of particular countries might, notwithstanding the existence of a bimetallic system, seek to accumulate gold. It may truly be described as at present the more esteemed metal of the two. There has certainly been a tendency of late yeajrs to substitute it for silver as the standard, and to use it to an increased extent for currency purposes throughout the commercial world. Witb the single exception of t h e Bland Act in the United States, all recent changes in currency legislation have been in the direction of using gold rather than s\lver for currency purposes. This fact shows, at any rate, a sentiment in favor of gold which may not be without its influence;' and, indeed, beyond the mere sentiment the superior convenience of t h a t metal for nionetary purposes may tell in the same direction. In addition to this, the apprehension t h a t the bimetallic arrangement could not be relied on as permanent, and the fear of secession from it, might operate strongly to induce bankers and financiers to hold as large a stock as possible of gold rather t h a n silver. This might cause a struggle for the possession of gold, witb consequent financial disturbance, and with the result t b a t nations who are accustomed to the use of gold for the actual purposes of currency, and who have enjoyed its superior advanta,£/!es for that purpose, owing to its bulk being less in proportion to its value, might not be able easily to acquire or retain all that feheir people needed for these x>iirposes. . We have thus pointed out the advantages and disadvantages to be anticipated as the result of entering into the bimetallic compact suggested. We have now to weigh the advantages against the disadvantages,- and to answer t h e question whether in our opinion the result of the change would, upon the whole, prove beneficial. It is coniparatively easy to estimate with substantial accuracy the extent and force of evils or inconveniences of which we have had experience. To weigh witb just and accurate balance the possible dangers and evils that might result from a change is a very different matter. They must be largely the subject of conjecture. The opinions of economists and men of experience in financial matters with respect to them have differed, and are likely to differ. Even if not prepared to rate them as higb as some have done, we can not question their reality. The change proposed is tremendous, and we can not but feel t b a t to a great extent it would be a leap in the dark. The public mind certainly is not prepared for it at present, and the viery novelty of thc proposal would excite apprehensions, whicb, in themselves, might not be without their danger. We speak of the novelty of the proposal, because, though it bas been for some years" publicly advocated with great ability arid earnestness, it bas not found anything like -general acceptance, and those accustomed to the existing system bave often been disposed to p u t it aside as a chimerical proposal, unwoi:tby of serious consideration. Under all these circumstances, while fully impressed with the difficulties of the present situation, and more especially with those which affect the government of India, we are not prepared to recommend t h a t this country should proceed to negotiate with other nations a treaty embodying a bimetallic arrangement. We feel t h a t t h e matter needs much more discussion and consideration in the financial world, and by practical men, than it has yet received, and t h a t we are not in a position to advise with any confidence that the charige could be made safely, or witbout the risk of creating evils exceeding those whicb we at present experience. Fart I I I . It only remains for us to give our reasons for thinking t h a t our colleagues have attached undue importance to the. several objections which bave been urged against t h e proposed change. These objections are as follows: (1) Tbat ' ' t h e chancre proposed is tremendous," and that its ' ' v e r y novelty would excite apprehensions which in themselves inight uot be without their danger." 182 REPORT ON T H E FINANCES. To this we reply t h a t the system of currency which we recommend was in existence in other countries for many years before 1873, aud its eft^ects practically extended toall the commercial countries of the world. We are not aware that so long as it was maintained in its integrity any evil results ensued. The only novelty in our proposal is that the United Kingdom should join witb the other countries specified below, in section 35, 'in re-establishing a bimetallic system. We are therefore unable to understand bow, in view ofthe experience of the past, any ground for serious apprehension can exist. (2) That the position of the United Kingdom, and especially of London, as t h e commercial or financial center o f t h e world, would be endangered. This position,, it is urged, is due to the fact that the standard of value in this conntry is a definite quantity of a particular metal, and t h a t j)ersons entering into trans actions, expressed in pounds sterling, consequently know with absolute certainty what it is that thej^ will have to give or receive. This certainty, it is said, would disappear if an option were given to debtors, as is proposed under the bimetallic system, of tendering either one or two metals. To this we reply: (a) That the commercial and financial pre-eminenee of London dates, back to a period anterior to the establishment of the single gold standard in this country, and a period when, a s a matter of fact, the currency o f t h e country was bimetallic; (b) That if tbe transactions of other countries are now largely carried out by means of bills drawn upon, London, it is becaiuse London is, for many reasons, the best market for such bills, and that this fact is not likely to be affected by our joining with other nations in a common system of currency; (c) That the option . conceded to debtors under the bimetallic system could rarely have any practical effect, inasmuch as, if tbat system were established and maintained in its integrity, there would be no appreciable inducement to select one metal rather than the other. (3) That if bimetallism resulted in a fall in the value of gold, England, as a country en titled to receive large gold payments, would lose, and otlier countries would gain at ber expense. In reply to this objection we need only refer to tbe arguments stated in section 96> (Jc) of P a r t I of the report, to which we have nothing to add. (4) Thai the bimetallic system depends for its successful working upon interna' tional support, and that, for adequate or inadequate reasons, other nations would^ sooner or later, cease to adhere to it. To tbis we reply (a) that no sufficient motive can be suggested for the secession of anyof the contracting powers; (&) t b a t provided the system was maintained over a sufficiently large area, the secession of one or more powers would not be of vital importance ; (c) that in any case the seceding power would cause more injury to its own subjects than to those of other countries; and {d) t h a t such an objection applies witb equal force to all international agreements. (5) That the tendency which is observable among the more civilized nations to use gold rather than silver would be likely, notwithstanding the existence of a bimetallic system, to encourage the accumulation of that metal and the creation of an agio upon it, which would thus disturb the ratio fixed by law between the two metals. To this wereply t h a t t h e tendency above mentioned is mainly-the result of the apprehensions and uncertainty attending upon the existing relations between the two metals; and that all inducement to accumulate gold would cease with a return to a stable ratio of value between them. (6) Tbat there might be a tacit refusal of. the people of a country to accept both metals as legal tender, and t h a t contracts would be largely made in one of the two metals only. The question raised in this objection is rather a matter of opinion than of argu• ment, and we only say t h a t we do not share the apprehensions of those who foresee any serious difficulty arising from such a course. Even if it be admitted t h a t it would be largely adopted, we do not think, t h a t so long as the legal ratio between.the two metals continued in force, any real difficulty could occur. But we may point ont t h a t the objection appears to assume what has, of course, never been suggested, t h a t the bimetallic system could be introduced into a country without the consent of those sections of the population who would be most interested in the adoption of such a change. We are satisfied t h a t no such measure as the introduction of the double standard could be passeci into law, in this country at least, witbout such an amount of x^opnlar support as would practically prevent the possibilit}^ o f t h e adoption of snch a course as is suppo.sed in the objection we are noticing. (7) Tha-t if debts contracted in gold could be paid in silver, the claims of all creditors would unjustly suffer, and t h a t the adoption of a bimetallic system would t h u s amount to a breach of faith. ' This last objection is that which appears to us to call for the most serious consideration, and we are not disposed to underrate its importance. If it be right that a government should adopt and impose upon its people a legal standard of value, it is clearly its duty to provide, as far as possible, t h a t sucb stand DIRECTOR OF T H E MINT. 183 ard shall not be wanting in its most essential attribute, viz, t b a t of the greatest attainable stability. Recent experience bas shown t h a t by the monetary policy of Germany, the Latin Union, and the United States, over which this country had no control, the standard of value in the United Kingdom has been gravely impaired, and its future stability, as well as t h a t of the silver standard of India, seriously endangered, In these circumstances it is evident t h a t if tbe Government, by its direct action in changing the standard, injured tbe interests of creditors and disturbed existing contracts, it may, by abstaining from actiori, injure tbe interests of debtors to an equal or greater extent, and affect future contracts. I t appears to us t h a t if it is wrong in a government to make any change in its standard of value on the ground t b a t it would disturb the relations of debtors and creditors, it must be equally wrong to abstain from auy action which it is in its pov^er to take by whicb a disturbance in those relations m a y b e averted. But it is essential to observe t h a t this objection, wbatever force attaches to it, i& not directed against the policy of bimetallism as such, but merely against the return to the ratio of 15-^ to 1, or some otber ratio differing mucb from the current relative value of gold and silver. I t must also be recollected t h a t it can not be urged by those who bave insisted t h a t tbe fall in prices is due to causes primarily affecting commodities, and not to tbe appreciation of gold. If tbe rupture of the bimetallic par has not led to tbe appreciation of gold and to a fall in prices, there appears to be no sufficient reason for supposing t h a t its renewal would affect tbe value of gold or cause a rise in prices. For tbese reasons we do not tbink tbat, afterlgiving due weight to the foregoing objections, they are sucb as ought to be allowed to stand in the way of such a policy as we are prepared to recommend. Neither nietal alone exists in sufficient quantity to serve as a sole standard witbout causing such a change in tbe level of prices as to amount to a financial and commercial revolution ; but we can not doubt t h a t if a sufficiently wide area of agreement between the leading commercial countries can be secured, this most important result may be effectually attained, and a great international reform successfully accomplished. Further, we are strongly impressed with tbe conviction t h a t whatever evils may be expected to flow from a return to the status quo ante, tbe evils, both present and prospective, o f t h e existing situation are infinitely more serious. Failing in any attempt to re-establisb tbe connecting link between the two metals, it seems probable that the general tendency of the commercial nations of the world will be toward a single gold standard. Any step in t h a t direction would, of course, aggravate all tbe evils of tbe existing situation, and could not fail to have a most injurious eftect upon the progress of t h e world. A further fall in the value of silver might at any moment give rise to furtber evils of great and indefinite magnitude iu India, while a furtber rise in the value of gold might produce the most serious consequences at borne... No settlement o f t h e difficulty is, however, in our opinion, possible without international action. The remedy whicb we suggest is essentially international in its character, and its details must be settled iri concert with the other powers concerned. I i will be sufficient for us to indicate the essential features of the agreement to be arrived at, namely: (1) Free coinage of both metals into legal-tender money; and (2) the fixing of a ratio at which the coins of either metal shall be available for tbe payment of all debts at the option of the debtor. The particular ratio to be adopted is not, in our opinion, a necessary preliminary to the opening of negotiations for the establisbment of such an agreement, and can, with other matters of detail, be left for further discussion and settlement between the parties interested. We therefore submiii t h a t the chief commercial nations of the world, sucb as the United States, Germany, and the states Ibrming the Latin Union, should in tbe first place be consulted as to their readiness to join with the United Kingdom in a conference, at which India and any of the British colonies which may desire to attend should be represented, with a view to arrive, if possible, at a common agreement on the basis above indicated. We haye indicated/what appears to us to be tbe only permanent solution of tbe difficulties arising from ihe recent changes in the relative value of the precious metals, and tbe only solution whicb will protect tbis and other countries against the risks of the future. At the same time we approve the recommendations of our colleagues in sections 134-137. We dp not attach much importance to their probable direct effects; b u t their influence at the present time would be beneficial, while their adoption would place no obstacle in the way of a more satisfactory solution at a future date, and might x>ossibly'facilitate it. \ 184 R E P O R T ON T H E FINANCES. Australasia.—Mr. George, Anderson, deputy master of the Melbourne branch of the Royal Mint, has kindly communicated, under date of September 4, 1888, a statement of the production of gold and silver in the several provinces of Australia and New Zealand during the year 1887, -as follows: PRODUCTION OF AUSTKALIA AND N E W ZEALAND F O R 1887. Ounces. Metals. Gold Silver . . 1 436 953 2M 437 . . . As previously explained in reports of this Bureau* the ounces given in. this statement are gross ounces. Making a deduction of 8 per cent., as heretofore, tbe net i)roduction of precious metals in Australia and -New Zealand for 1887 was as follows : Fine ounces. Metals. •'Oold. Silver 1, 321, 997 206, 483 New Zealand.—Mr. John T. Campbell, United States minister at Auckland, transmits, under date of March 21, 1888, replies to the interrogatories of the Bureau of the Mint relative to the colony of New Zealand. ' • Ounces. Iteans r e p o r t e d for 1887- Imports: Gold coin . S i l v e r coin . Exports: Gold coin Gold bullion . ^ .. . . . . Value in United States money. 180, 500 612 .. .... Silvercoin S i l v e r buUion P r o d u c t of m i n e s : Gold. Silver Pounds sterling. 203, 869 20, 309 . . $878, 403 2,978 180, 014 747, 878 •382 3,453 876, 3, 639, 1, 16, 038 548 859 804 811,100 3,454 3, 947, 218 16, 809 New South Wales. I t e m s r e p o r t e d for 1887. Ounces. Pounds sterling. 2, 069, 000 P r o d u c t of m i n e s , 1887: Gold Value in United States money. $10, 008, 788 ] 10, 288 177, 307, 'See Report on Production of the Precious Metals, 1886, p. 69. DIRECTOR OF T H E 185 MINT. Victoria. Items.repor ted for 1887. Coiiiage of mint at Melbourne, gold Imports: Gold bullion Gold coin . .. Silvercoin ..... .. Exports: Goldbullion Silver coin. ."Broduct of mines: Gold Silver Ounces. Pounds sterling. 2, 887, 800 Value in United States money. $14, 053,479 2, 942, 635 259, 635 150, 880 ... 1,217,325 5, 055, 605 7,075 •. 017,751 26,321' 12, 768, 913 34, 030 India.—Monetary statistics of India are compiled and published in very complete form. Copies of recent publications by the government bearing on the precious metals in India have been received at this Bureau, Mr. J. E. O'Conor, assistant secretary to the Governinent of India, transmits, under date of November 24,1887, tables showing, for the cal<indar years 1885 and 1886, the coinage of the mints at Calcutta and Bombay, the production of gold in India by districts, and names of companies, and imports and exports of gold and silver. Answers to the interrogatories covering the years 1885 and 1886, which have not heretofore appeared, have also been forwarded. The same gentleman transmits, under date of April 30, 1888, reports of the workings of the mints at Calcutta and Bombay for the years 18861 and 1887. Mr. Benjamin E. Bonham, consul-general at Calcutta, transmits, under •date of July 27, 1888, replies to the interrogatories o f t h e Bureau of ithe Mint covering the year 1887, together with tabular exhibits: Items.reported, calendar years. Rupees. iValue i n U n i t e d States money. •Gold c o i n a g e : 1-885 , 1887..: 225, 855 $106, 987 *8, 970 4,249 Silver: 1885 , 102, 358, 273 48. 487,114 ;i886 57,254,411 27, 121, 414 1887.. 93,185, 589 44,142, 013 iRecoinage, 1886: Domestic-silver-coin 441,065 208, 932 F o r e i g n s i l v e r coin . 7, 860, 092 3, 723, 325 5,138, 874 2, 434, 284 1,923,888 911, 346 1887: ]:^ational , Foreign i P r o d u c t of m i n e s (gold): 18'85... 283, 037 134, 075 1886 876,118 415,017 165, 659 319, 529 1887 ,., 186 REPORT ON THE FINANCES. I t e m s reported, calendar years. Rupees.. I m p o r t s (gold) : 1885 1886 .1887 - Exports (gold): 1885 V a l u e in U n i t e d States money. 27,304,719 $12, 934i 245» 26, 518, 761 12,561, 937 32, 396, 810 15,^ 346, 369 2, 931, 853 1, 388, 819 7,160, 077 1886 1, 502, 308 • 1887 I m p o r t s (silver) : 3-391 728, 711,643 1885 118,711,488 56,233, 632' 1886 88, 310, 130 41, 832, 508 1887 96,158, 798 45 550 422' 11, 431,189 5, 414, 954 11, 040, 544 5,229,905 12, 729, 256 6, 029 848 Exports (silver): 1885 ~ 1886 • 1887. ^All recoinage of foreign coins. t Pounds sterling. Canada,—Mv. Thomas W. Hotchkiss, United States consul at Ottawa forwards, under date of February 22, 1888, the information requested, by the Bureau of the Mint, covering the calendar year 1887 : Items, reported. Value. Silver coina,ge (executed at London) Imports of gold coin and bullion Exports* $85, 000 1,139,169 1,053 *• Includes silver. Ca.pe Colony.—Mr. James W. Siler, United States consul at Cape Town, forwards, under date of March 12, 1888, the information requested by the IBureau ofthe Mint, covering the calendar year 1887: Items reported for 1887. Gold: Imports Exports Silver: Imports Exports Product of mines, based on exports P o u n d s ster- V a l u e i n Unitedling. States money. 686,197 $4, 312, 678 46,970' 228, 579 49, 211 239, 485 17,013 82, 794 236,6.12 V 1; 151, 472 In the Appendix* will be found a table extracted from Petermann's Mitteilungen, thirty-eighth volume, 1888, showing the exportation of gold from JS"atal and Cape Colony each year from 1871 to 1887, inclusive, and for the first five months of the year 1888. ^ See foot-note, page 285. 187 DIEECTOR OF THE MINT. FRANCE AND FRENCH COLONIES. France. Items reported for 1887. Amount. Kilograms. Francs. Coinage: Gold Silver [subsidiaryJ' 24, 668,190 8, 910, 583 Value in United States money.' / $4,760,960 1, 719, 742 Piastres. Silver for Cochin Cbina Cochin-Cbina 20c. pieces 3, 076,410 50, 000 3, 076, 410 50, 000 Gourdes. Silver for Hayti Fractional silver Imports: ' Gold coin Gold bullion Silver coin Silver bullion Exports: Gold coin Gold bullion Silver coin • Silver bullion Product of mines 1886 200, 000 , . . . 300,000 200, 000 300, 000 Francs. 61, 891, 344 30, 919, 026 150, 090, 004 . 23, 584, 757 .' 146, 686, 614 69, 054, 959 .... 129, 008, 948 9, 535, 905 11, 945, 029 5, 967, 372 28 967,371 4, 551, 858 28, 310, 516 13,327,607 24, 898, 727 1, 840, 429 46, 789 • Recoinage of old national and papal coins. Items reported for 1887. Imports : Gold coin Exports: Gold coin Imports: Silver coin Exports : '' Silver coin Silver bullion Kilograms. • : 16. 300 $10,. 833 4.000 3. 328 2,658 2,212 37, 602.105 ......... ., Value in United States money. 9, 304. 895 19. 225 1, 562, 743 , 386, 711 799 188 REPORT ON THE FINANCES. BELGIUM. Mr. Lambert Tree, minister resident of the United States at Brussels, transmits^ under date of August 9,1888, replies from the Kingdom of Belgium to the interrogatories of the Bureau' of the Mint. Kilograms. Items reported for 1887. Coinage, silver: Kecoinage of 5-franc pieces For tbe Free State of tbe Congo : 15-franc pieces Divisional pieces Imports: Gold ore and bars : Gold coin •• Gold manufactured goods . . Silver ores and bars Silver coin Silver, manufactured goods Exports: Gold bars Gold coin " Gold manufactured goods . . . . Silver ores and bars . . .... ... Silver coin Silver, manufactured goods Francs. Value in United States money. 7, 800, 000 $1, 505, 400 40, 000 60, 000 7,720 11, 580 1, 872,122 361, 319 1,148, 015 221,567 117, 617 . 22, 700 36, 030 6, 954 .18, 069 61 . . .57, 671 494 19 37 268, 937 818 SWITZERLAND. Mr. Boyd Winchester, minister resident and consul-general at Berne, transmits replies to the interrogatories of the Bureau of the Mint. Items reported for 1887. Francs. Value in United States money. Coinage: * 1,400, 000 $270, 200 Silver (limited tender). Gtold. 15, 374, 205 2„967, 221 ImjDorts 3, 949, 576 762, 268 Exports Silver: 4, 594, 501 23, 805, 705 Imports 3, 331, 244 17, 260, 383 Exports * A portion of this coinage consisted of recoinage of silver coins withdrawn from circulation. At the instance of this Bureau, Mr. Winchester was instructed to obtain from ^the Swiss government a statement of the approximate value of gold and silver used in Switzerland annually in manufactured goods. Under date of March 19,1888, he transmits the desired information. 189 DIRECTOR OF THE MINT. The department of commerce of Switzerland estimates, from the best information at hand, the value of the gold and silver used in the industrial arts during the year 1887 as— Francs. Metals. Gold 37, 000, 000 (j 3, 000, OOOOtO 4, 000, 000' .. Silver Value in United States money. $7,141, 000 579, 000 to 772, 000 ITALY. Mr. John B. Stallo, United States minister at Eome, transmits, under 'date of June 27,1888, replies to the interrogatories of the Bureau of the Mint covering the calendar year 1887 so far as they relate to the Kingdom of Italy. I t e m s r e p o r t e d for 1887. Kilograms. Lire. 32, 400, 000 Silver c o i n a g e (limited t e n d e r ) V a l u e in United States money. $6, 253, 200 Imi^orts: Gold coin . . . ' 179, 300 420, 605 Gold b a r s 595, 200 1,079,873 876, 2u0 4, 608,106 504, 400 97, 349 Silver coin , 031, 600 14, 867, 099 Silver b u l l i o n , 195, 940 809, 816 S i l v e r coin 864, 400 15, 992, 829 Silver b u l l i o n 262, 080 629, 581 Exports: G o l d coin , Gold b a r s . . . .^ Imports : Exports : P r o d u c t of m i n e s , 1886 : Gold Silver ')' . Items reported for 1887. Silver coinage . ...'. 195 527, 736 lOi, 853 33, 839 ', 414, 240 1, 044, 948 SPAIX. Pesetas. *59, 012, 510 * Kecoinage of pillar dollars into 5-peseta pieces. 'Value in United States money. $11,389,414 190 REPORT ON THE FINANCES. AUSTRIA-HUNGARY. Mr. James E. Roosevelt, charg6 d'affaires ad interim at Vienna, transmits, under date of July 27, 1888, a communication from the Austrian Government relative to coinage and production of the precious metals for 1887, and Mr. Alexander R. Lawton, minister of the United States at Vienna, transmits, under date of September 19,1888, a statement showing the production of gold and silver from the mines of Hungary during the year 1887: Items reported. Kilograms. Florins. Value in United States money. Coinage, gold, 1887: Mint at Vienna 2. 999, 285 $1,445, 655 2, 539, 617 1,224, 095 5, 538, 902 2,669 750 Mint at Vienna Mint at Kremnitz 5, 927, 230 2, 022, 064 2, 856, 925 974, 635 Total 7, 949, 294 3, 831, 560 3,175, 928 1, 530, 797 *400, 032 192, 815 Mint at Kremnitz . . . Total Coinage of l e g a l - t e n d e r s i l v e r coins, 1887: Coinage of s i l v e r t r a d e coins, 1887 : Mint at Vienna C o i n a g e of f r a c t i o n a l s i l v e r c o i n s , 1887 : Mint at Vienna Mint at Kremnitz . . . . . : 2, 537 1, 223 402, 567 194, 038 N a t i o n a l coins 998, 430 481, 243 F o r e i g n coins 990, 950 477, 638 1, 989, 380 958,881 7, 570, 300 3, 648, 884 Total E e c o i n a g e of gold a t m i n t a t V i e n n a : . Total ...' I m p o r t s , gold Exports gold ..... . . , . - . Imports, silver E x p o r t s silver .... 3, 521, 200 1, 697, 218 2, 496, 792 1, 203,454 837, 585 403, 716 P r o d u c t of m i n e s , 1887 : Gold A u s t r i a • Gold. H u n c r a r v Total. 14.944 9,932 1, 86L 959 1 237,458 1. 876.903 1, 247, 390 Silver, A u s t r i a 35, 745. 219 1 485 571 Silver, H u n g a r j ' ' 17, 646. 493 733, 388 53, 391. 712 2, 218, 959 Total.. " KecoinagCo 191 DIEECTOE OF THE MINT. GERMANY. I t e m s r e p o r t e d for 1887. Kilograms. Value in United States money. Marks. Coinage: Gold 118,215,420. 3, 005, 644 Silver Imports: Gold coin 1 Gold b u l l i o n 1 Total Exports: Gold coin . . .. Goldbullion Total Impprts: S i l v e r coin Silver b u l l i o n Total Exports: : ' . Silver b u l l i o n . Total / $28,135,270 715, 343 14,082 9, 358, 897 7,251 4, 819, 014 21, 333 14,N177, 911 2,609 2, 889 1, 733, 941 1,9^5 029 5,498 3, 653, 970 33, 832 1, 406, 058 33, 043 1, 373, 267 66,875 2, 779, 325 ' .. .' 62, 778 2, 609, 054 156, 290 6, 495, 412 219, 068 9,104, 466 [Product of m i n e s : Gold ' Silver ( i n c l u d i n g silver from f o r e i g n ores) 2, 251 6, 281, 000 • 1, 494, 878 367, 634 48,157, 000 11, 461, 366 NETHERLANDS. Florins. I t e m s r e p o r t e d for 1887. Value in United States money. •Coinage: 407, 540 190, 000 (^old Silver, s u b s i d i a r y (recoinage) $163,831 76, 380 imports: Gold coin (3-old b u l l i o n Total lExports, gold coin Imports: Silver coin Silver bullion Total ... E .'cports, s i l v e r coin 413,1.54 166,088 2, 332, 509 937,668 2, 745, 663 i, 103, 756 408,500 164, 217 481, 610 274, 966 193, 607 110, 536 756, 5'"6 304,143 175, 000 70,35^0 PORTUGAL. I t e m s r e p o r t e d for 1887. Milreis. V a l u e in U n i t e d States money. Coinage: Gold 250, 000 $270,000 Silver 889, 000 960,120 192 REPORT ON THE FINANCES. SCANDINAVIAN UNION. Denmarh,—Mr. Rasmus B. Anderson, United States minister at Copenhagen, transmits, under date of February 2, 1888, information covering the calendar year 1887, relative to the Kingdom of Denmarli: I t e m s r e p o r t e d for 1887. CrownSi Imports: Gold coin ^. Gold bars. - -- - Value in GTnited Statesmoney. 10, 450, 000 . . . -. $2, 800,600 1, 350, 000 361,800' .... 11,800,000 3,162,400 E x p o r t s , gold coin . 8, 800, 000 Total I t e m s r e p o r t e d for 1887. Coinage silver -.- Crowns. 2, 3:;8, 400' V a l u e in United States money. 300, 000 . - $80, 400' RUSSIA. I t e m s r e p o r t e d for 1887. Roubles. V a l u e in U n i t e d States money. Coinage: Gold 26, 055, 035 2, 010, 507 Silver $20,109,276 1, 551, 710 P r o d u c t of m i n e s : Gold 26, 032, 513 20, 091, 893'- . 728,540 . 562, 287 Silver TURKEY. The only coinage executed at the Ottoman mint during the year consisted of a recoinage of subsidiary silver coins. Mr. John Cardwell, United States agent and consul-gieneral at Cairo^ transmits, under date of April 22,1888, replies to the interrogatories of the Bureau of the Mint, covering the year 1887: I t e m s r e p o r t e d for 1887. Egyptian pounds. V a l u e iu U n i t e d vStates monev. Coinage: ^ Gold 49, 839 $246, 354 436,919 2,159, 690' Irajports . 2, 458,469 12,152, 212 Exports . 1,416,069 6,999,629- 608,271 3, 006, 683 481, 996 2,. 382, 50& Silver'^ . . Gold: Silver.: Imports . Exports . '' * I n c l u d e s r e c o i n a g e 373,602 E g y p t i a n p o u n i l s of E g y p t i a n s i l v e r coins.. DIRECTOR OF THE MINT. \ 193 The valnes at which the government received foreign [silver coins, during the years 1886 and 1887 are also transmitted, and will be found in the Appendix. SIAM. • Coinage: Silver'^. ^ Value in United States money. Ticals. Items reported for 1887. ......^ $2,216,065 3,922,240 , * T b e t i c a l is a s i l v e r p i e c e w e i g h i n g 233.55 g r a i n s , a n d of a fineness a v e r a g i n g a b o u t .902. TRIPOLI. • * • ' / ' . • - A special inquiry was addressed, at the instance of this Bureau, by the Secretary of the Treasury to the Department of State relative to the-unit of value of Tripoli. This was intended to apply to Tripoli, one of the Barbary States of Africa, but was sent to the United States consul at Beirut in Syria, wlio endeavored to obtain the information in regard to Tripoli, Barbary. According to the statement of this consul, forwarded under date of April 12y 1888, the money of account of Tripoli, Barbary, is the Turkish piaster. He states that this piaster does not exist as a coin, the nearest approach to it being the Turkish silver piece of 40 paras, which the government receives at 38 paras, the present market value being 45 paras. He states that both silver and gold are legal tender in Tripoli. , This information fails-'to cover the inquiries of this Bureau. In invoices from Tripoli, Barbary, and in accounts kept by merchants there,, the mahbub of 20 piasters is the money of aceount, the Turkish piaste;r and other foreign coins constituting the circulating media. Until further information be received the value of the mahbub of 20 piasters will continue to be estimated as the money of account of Tripoli, Barbary. TUNIS. • ' - . . • ' • \- A decree has been issued by the Bey assimilating the coinage system of Tunis to that of the States of the Latin Union. It ordains that the full legal-tender coins of the Latin Union shall be received at all the public treasuries of the Regency, at a proportion of six-tenths of a ' franc for a Turkish piaster, and that they shall be re-issued by the public treasuries in the same proportion. '• ' ' • .• • J A P A N . . ' ••• '.' Mr. Richard B. Hubbard, United States minister to Japan, transmits answers tb the interrogatories of the Bureau of the Mint so far as they relate to the Japanese Empire, covering the calendar year 1887. . • . • « i H. Ex.2-.—13 ' - • ' • ' 194 KEPOET ON THE FINANCES. Items reported for 1887. Coinage: Gold. Silver Imports of gold bullion Exports of gold coin . . . . . . . . . . . . . . . . . . . . . . . . Imports: Silver coin Silver bullion .'.-. «.« Exports: / , Silver coin Silver bullion ^ Product of mines: Government mines, 1887 (gold) Private mines, 1886 (gold) Government niines, 1887 (silver) Private mines 1886 (silver) ' . . . . .. Tens. Ounces. . *897 tlO 279 62 86 ......... 420 555 717 236 435 277 7,176, 399 10, 946,411 2, 484 ..-. . " Includes recoinage of 220 yens. 6,491 9,292 193,538 886,639 166, 893 208,173 248,126 1, 084, 511 t Includes recoinage of 109 yens. CHINA. Mr. Charles Denby, United States minister to China, transmits, under date of March 28, 1888, replies to the questions propounded by the Bureau of the Mint, but communicates no information of value. He also transmits an article in regard to circulation of standard cash in Peking, and a Secree that the Peking cash will not be withdrawn, but be supplemental to the standard cash. The papers will be found in the Appendix* to this report. Mr. Charles W. Buck, United States minister plenipotentiary at Lima, transmits, under date of July 17 and July 20, 1888, replies to the interrogatories of the Bureau of the Mint, and communicates other information relation to monetary affairs in Peru. . Items reported for 1887. Coinage: Silver Exports: Gold.'..... Silver. Product of mines: Silver Kilograms. Sols. 1, 685,000 o . . . . . ... : . :. Value in " United States money. $1, 685, 000 , 120 10, 827 79, 752 449, 970 49,750 2, 067, 651 . .. . .. . .. * See f o o t - n o t e , p a g e 285. 195 DIRECTOR OF THE MINT. CHILI. , Items reported. Kilograms. Coinage, 18,87: Gold Silver Imports, 1886: Gold coin . . . Value. $25, 360 332,990 , ... Exports, 1886: Goldcoin.. Goldbullion 19,039 83, 983 193,498 „ Total..... „ Imports, 1886: Silver coin Silver bullion J. 277,481 , • / Total 284, 970 Exports, 1886: ^ Silver coin.... . . . . . . . . . . . . . . . . . ..... Silver b n l l i o n . . . . . . . . . . . . . . . . . ..... . . .... .... 560,433 6,666, 715 Total... Product of mines, 1886: Gold (estimated) Silver !... 178, 253 106, 717 7,127,148 ^ , 500 210,000, 332, 300 8, 727, 600 ARGENTINE EEPUBLIC. Item^ reported. Coinage: Gold Imports of gold . i Exports of gold .....:.. Imports of silver Exports of silver Product of mines (estimated): Gold Silver....... 1886. ...;.. ... Value. ^1, 988, 670 L9, 488, 809 7,832,816 1, 226,853 525, 202 20, 000 60^000 . . 1887. Coinage, gold Product of mines (estimated): Gold......... Silver ; 9,173, 370 30, 000 30, 000 196 REPORT ON T H E FINANCES. PARAGUAY AND URUGUAY. Mr. John E. Bacon, charge d'affaires of tbe United States, tr,ansmits, under date of March 21, 1888, the information desired for the calendar year 1887 in regard to the republics of Paraguay and Uruguay. Uruguay, Items reported for 1887. Value. Imports o'f gold and silver. Exports of gold and silver. $3, 560, 450 7, 127,137 CENTRAL AMERICA. Mr. Henry C. Hall, envoy extraordinary and minister plenipotentiary to the Central American States, transmits, und.er date of October 29, 1887, November 7 and I^^Tovember 15. 1887; and Mr, James R. Hosmer, charge d'affaires ad interim^hn^ev (late of May 15 and June 20, 1888^ and Mr. Charles H. Wills, United States consul at Managua, Nicaragua, under date of August 13,1887, information in response to the interroga tories of tbe Bureau of the Mint covering the calendar years 1885, 1886, and 1887, relative to,coinage, production, and movement of the precious metals in the republics of Costa Rica, Honduras, Guatemala, Nicaragua, and Salvador, all of which is voluminous, and will be found in the Appendix. Items reported. Value. Costa Mica. Coinage (silver): 1885 : ../ $112, 936 148, 036 1886 87, OOO E x p o r t s , 1887, gold b a r s . . . . . . . 817,271 I m p o r t s , s i l v e r coin 86, 70:i: E x p o r t s , silver coin P r o d u c t of m i n e s , 1885: ' 6,119 Gold, - . . 229, 351 E x p o r t s of gold a n d silver, 1885 P r o d u c t of m i n e s , 1887 : ' 87,000 Gold.. Items reported. Kilograms. Value. , Guatemala. Coinage: Silver, 1886 $27,387 I m p o r t s , 1885, s i l v e r c o i n , 604, 583 E x p o r t s , 1885, s i l v e r coin - 37, 672 - I m p o r t s , 1886: • Gold. i, 22, 000' Silver 1,108, 928 E x p o r t s , 1886: Gold.... 11,670 Silver.". 176,048 Honduras. Coinage (silver): 106, 510 1885.. 71,978 1887 Product of mines: 1887, silver 1, 799 DIRECTOR OP THE 197 MINT. CENTRAL AMERICA--CODtinued. .' ^ Items reported. Kilograms. Value. Nicaragua. Coinage, 1887: Silver Exports, 1885: • Gold..' Silver ... $400, 000 ... -- 152 80 Salvador. Imports of silver coins, 1887 Exports of silver coins, 1887 Product of mines 1887: Gold.:. Silver-...:... 862, 240 104,919 . 66,439 240,197 .. H A W A I I A N ISLANDS. Imports, 1887: Gold coin Silver coin Exports, 1887: Gold coin.. ' • Silver coin / . .. . . ... . . . . . . . .. ... ........ . . " ' , 899, 282 1,071 . .... , .''. , " 17, 090 4,186 ' ....•.', CONCLUSION. In closing my fourth annual report it is my privilege to remark t h a t no shortage has been incurred in the mint service of the United States since nfy entry upon the duties of this officel It may be proper also to state that there have been no disallowances of any moment in the settlement by the accounting officers of the Department of the accounts of expenditures in the mint service which have received my approval, or in the technical accounts of operations on bullion and coin. I t is a pleasure to be able to bear testimony to the ability and cheerful zeal with which not only the regular work of the service has been performed, but also much extra work by way of meeting the requirements of the Bureau in the annual collection of statistics of the precious meta^ls, and enabling me to present in the annual report of those statistics numerous exhibits for the calendar year uniform with, and supplementary to, those for the fiscalyear contained in the several reports of the present serie.s. , Acknowledgments are due to the clericalstaff, and especially to Messrs. R. E. Preston, F . P . Gross, and H. E. Spackman, whose intelligent services in the regular work of the Bureau and in the preparation of both series of annual reports have been unremitting. Mr. E. O. Leech, computer of bullion, has rendered, as usual, invaluable statistical and editorial assistance! I am, very respectfully, yours, JAMES P. KIMBALL, Director ofthe Mint, Hon. CHARLES S. FAIRCHILD, tSeeretary of the Treasury, 198 R E P O R T ON T H E FINANCES. APPENDIX. / I . — D E P O S I T S AND P U R C H A S E S OF GULD AND S I L V E R , B Y COINAGE MINTS. Description. GOLD. San Francisco. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Carson. New Orleans. . United States bullion (domestic production) TJnited States coin Pbiladelphia. : Eoreign bullion * Foreign coin 7,073.431 1,010,756.454 4,556.612 68.433 3,176.294 2, 722.019 ^ 38,936.516 1, 041.282 346.545 215, 549.024 607.469 1,450.052 2,193.553 42, 862. 811 Jewelers' bars, old plate, etc Total 57,561.418 48,102. 020 1, 266, 760.479 48,102. 020 7, 018. 598 1,266,760.479 48,102.020 7, 018. 598 , Ke-deposits: Eine bars 218. 082 Unparted bars 219, 315. 398 Total gold received 277,094.898 SILVER. United States bullion (domestic production ) . • J 16,116,174. 36 1, 428, 860.44 United States coin 358, 090. 84 62,537.50 United States coin, trade dollars 511,608.17 140, 408. 73 22,174.66 717,830.37 2, 321. 92 1.98 174, 919.12 453. 56 17,185,289.07 2, 350, 092. 58 Foreign bullion Foreign coin. Jewelers' bars, old plate, etc Total 780,941. 35 9,716,402.68 1,443.70 23.31 9, 462.00 36,115.36 . 20,59L55 780, 941. 35 9,784, 038. 60 Ke-deposits: Eine bars 106, 362.99 : 58,185. 94 995. 55 221,714. 29 Unparted bars Total silver received 17, 513, 366. 35 2, 408, 278. 52 781,936. 90 9,784,038.60 Gold and silver deposits and purchases. • 17, 242, 850. 488 ,3,616,853.059 829, 043.370 9, 791, 057.198 Re-deposits: Gold.. Silver....... 219,533.480 ..... Total gold and silver received 328,077.28 17, 790,461. 248 58,185.94 995.55 3, 675, 038. 999 830, 038. 920 9, 791, 057.198 199 DIRECTOR OF THE MINT. APPENDIX. WEIGHT, 'DURING THE FISCAL YEAR ENDED JUNE 30,1888. ;- . . ASSAY OFFICES. . . Total. • New York. " Denver. Standard ozs. Bois6. Helena. Charlotte. Saint Louis. Standard ozs. Standard ozs. Standard ozs. Standard ozi Standard ozs Standard ozs. 457,29L714 94; 293.4.33 .18,432.281 49.986 39, 725.711 64,455.991 14,992.827 11. 029 1,125,873.984 567,980.832 5,147.401 1,741,838.982 177.918 26,472. 553 7,250 1,168, 581.031 98. 700 784, 582. 570 77. 847 76. 229 1, 973. 636 160, 645.361 39,725.711 64; 544. 867 15,009:056 7,404. 905 3,882,120.497 , 777.996 8, 934. 784 6,222.995 542. 794 236, 248.227 2,511,275.278 95, 380. 664 48, 660. 495 70,767.862 15,069.056 7,947.699 4,348,077,049 4,019,556.41 21,962.64 16, 599. 99 30, 3,33,51 2,760.02 1,574.39 111, 751. 984 259.249 2,'281, 330. 775 94,602.668 454.260 229,490.243 229,708.325 ;. 2, 590. 05 . 2.92 259,046.92 424, 665. 01 911, 087.13 ^ 683, 642.16 658.52 1,433, 767. 71 75,054.37 36,615.11 340,113.55 68.81 46.10 2,704. 94 539, 099. 96 16, 599. 99 30,405. 24 2, 806.12 4,937.85 35, 518, 839. 97 4,268.76 1,335.81 202.33 5, 341, 564.'20 • 32,135,165.79 22,164. 97 n c • 20,632.28 8,124.91 186,176.76 278. 64 ' 5,370,32L39. 22, 443. 61 20,868.75^ 31, 741.05 7,622,894.975 116,767.638 56, 325. 701 94, 950.107 2, 806.12 .- 17, 875.176 ; 768.78 236,49L19 5, 706. 63 35,941,507.92 12, 342. 755 39,400,960.467 229,944.503- 777.996 8, 934. 784 6,-222.995 542.794 465 956. 552 28,757.19 278. 64 4, 268.76 1, 335. 81 768.78 422,667. 95 7, 881, 596. 668 117, 824. 274 69,529.245. 102,508.912 17, .875.176 13, 654. 329 40, 289, 584. 969 200 R E P O R T ON T H E FINANCES. I I . — D E P O S I T S AND P U R C H A S E S OF GOLD AND S I L V E R , B Y COINAGE MINTS. Description. Philadelphia. San Francisco. Carson. New Orleans. GOLD. United Stales bullion (domestic pro-. $131, 598. 70 $18, 804, 771.23 United States coin Foreign bullion • iForeign c o i n . . . . . . ' . . . . Jewelers' bars, old plate, etc V $894,921.30 84, 774.18 1,273.17 $59, 093.84 .50,042.21 724, 400. 30 19, 372. 69 6,447. 35 4,010,214.40 11,30L75 797, 447. 65 26,977.71 40, 810.28 - Total 1, 070, 910. 09 ,. 23, 567, 636. 81 894, 921. 30 130,578.56 23, 567, 636.81 ^ 894,92L30 130, 578.56 Re-deposits: ' Fine bars , .- Unparted bars , 4,057.35 • 4,080,286.47 . 5,155,253.91 Total gold received SILVER. United States bullion (domestic production) ..s' 18, 753, 366.49 Uriited States coin United States coin (trade dollars) •. Foreign bullion Foreign coin Jewelers' bars, old plate, etc Total Re-deposits: " , 908,73L75 11,306,360.47 72,770.91 595,325.87 163,384.70 27.12 25,803.24 .835,293.52 11,010.33 1,679.94 2,70L 87 2. 31 42, 025.15 203, 542. 25 527. 78 23, 961.08 19, 997,427. 24 2,734,653.16 908, 731. 75 123,767.84 67, 707. 27 1,158. 46 11, 385, 064.09 \ Fine bars Unparted bars 1, 662, 673. 94 416, 687. 52 1 ; Total silver received. Gold and silver deposits and purchases. 257,994.81 20, 379,189.89 21, 068, 337. 33 ^ 2, 802,360.43 909,890 21 11, 385, 064. 09 26,369,997.24 1,803,653.05 .11, 515, 642. 65 Re-deposits: Gold Silver.., 4, 084; 343. 82 .'.. Total gold and silver received . . . 381,762.65 1,158.46 25, 534, 443.80 26,369,997.24 1,804, Sir. 51 if, 515, 642. 65 DIREQTOR OF T H E 201 MINT. VALLUE, D U R I N G THE F I S C A L Y E A R E N D E D J U N E 30, 1888. ASSAY OFFICES. T o t a L "•, NewYork. Denver. , $8,507,752.81 $1,754,296.42 342, 926.15 Bois6. Helena. $739,082.99 $1,199,181.23 929.97 Charlotte. $278,936.31 205.19 20, 946, 492. 36 10,567,085.25 Saint Louis. $95, 765. 60 $32,406,306.59 '3,310.10 .492, 512.60 134.88 21,741,042.44 1,836.28 . 14, 596, 885.03 1,448.32 1,418.21 36,718.81 2,988,750.90 739,'.082. 99 1, 200, 834.74 .280,354.52 137, 765. 67 72, 225, 497. 56 14,474.34 166, 228. 54 115, 776.65 46,721,400. 52 .1,774,523.97 905, 311. 53 1, 316,-61L 39 2, 079) 106. ^8 4, 823. 24 42,443,36,3.25 1, 760, 049.63 4, 269, 585. 92 8,451.35 4, 677,301. 98 '4,273,643.27 25, 556. 52 A 9 , 316..35 3, 013. 88 36,297.17, 10, 098. 49 4,395,315.84 280,354.52 147, 864.16 80, 894, 456. 67 3,2n.65 1,832. 02 37, 393, 648.34 3.39 494,155.64 301,436.42 . 1, 060,174.11 795,*510.88 766. 28, 42,606.67 1,668,384.25 87, 336. 00 80.07 53.64 3,147.56 627, 316. 32 19, 316. 35 \35,380.63 3, 265. 29 5, 745; 86 41,331,014.66 324.23 4,967.29 1,554.40 894. 58 275,189.75 6,^249, IOL 24 26,116.19 24, 283. 64 36, 935. 03 3, 265. 29 6,640.44 41,822,846.45 48,659,001.58 1, 785, 841.59 758, 399. 34 1, 236, 215.37 283, 619. 81 143,51L53 113, 556, 512. 22 4, 278, 037. 27 14, 474. 34 166, 228. 54 115,776.65 10, 098.49 8, 668, 959.11 • 33,462.91 324.23 4, 967.29 1, 554. 40 894.58 491 831 79 52,970,501.76 1, 800, 640.16 929, 595.17 1, 353, 546.42 154,504.60 322,717,303.12 395, 768. 50 235.44 6, 215, 638. 33 25, 791. 96 9, 454.44 24,008.47 216 642.04 283,619.81 202 R E P O R T ON T H E FINANCES. I I I . — D E P O S I T S OF U N R E F I N E D GOLD OF DOMESTIC PRODUCTION, W I T H T H E STATES DISTRIBUTED, DURING T H E F I S C A L . COINAGE MINTS. Locality. Alabama. Philadelphia. San Francisco. Standard ozs. 4.998 Standard ozs. ' Standard ozs. Alaska Carson. 9, 921.242 Arizona California ; C olorado Dakota 124.077 6,355.061 382.295 187,272.594 334.802 158.570 108.138 37.970 Georgia...: 732.848 Idaho 4.882 12,035.962 Michigan 734.300 Montana. • 497.989 1,778.702 142.387 20,429.594 168.595 83. 218 Nebraska Nevada... New Mexico North Carolina 49.220 ^ 47,944.662 2,267.523 Oregon. 469.220 South Carolina.. ^ 55. 202 Tennessee 22.785 Utah.... 19, 312.619 3,125. 040 Virginia :. . 325.733 Washington 1,790.304 "Wyoming......... . Other sources 153.739 | Total unrefined Refined G-rand total \ • 1 605.347 80.813 7, 064. 692 262, 343. 719 8.739 748, 412.735 7,(173.431 1,010,756.454 48,102.020 48,102. 020 New Orleans. Standard ozs. 203 D I E E C T O R O F T H E MINT. AND T E R R I T O R I E S P R O D U C I N G T H E SAME, AND O F R E F I N E D DOMESTIC B U L L I O N N O T Y E A R E N D E D J U N E 30, 1888. ^ ./ ASSAY O F F I C E S . Total. New York. Denver. Bois6. Helena. Charlotte. Saint Louis. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. 49 152 44.154 9, 921. 242 1,759.385 5,551.943 . 89.100 13, 879. 566 108.439 188,100.899 84,218.052 1,058.648 116, 402. 070 229.433 30, 631.998 130,49L870 130, 529. 840 4, 261.217 42.664 470.672 425.665 36,158.750 6, 622.575 5, 036. 729 247. 781 > 689. 923 1, 424.223 57,140.778 69, 824.490 129, 241. 959 ^ 76.708 76 708 " 69.135 18,005.802 3, 554.991 68, 585.778 3,574.169 8,865.396 140.334 178.865 *" 3,566.961 18.200 23, 527. 665 1,866.214 1 939 616 .. J..'L........ 52. 590 59. 977 3,185. 017 142.955 468.688 676.598 2,466.902 569.856 363.917 16.040 28, 823. 801 . 281, 559.352 94, 293.433 39,725.711 64,455.991 14, 992.827 ^ 25.110 29 551. I l l 5,147.401 817, 685.146 924,153.836 175, 732.362 457; 291.714 25 386.775 11,273.253 •" .' ^ 29.805 52. 200 56, 015. 507 94, 293.433 . 39, 725. 711 64,455.991 14,992.827 5,147. 401 1, 741, 838. 982 204 R E P O R T ON T H E FINANCES. I V . — D E P O S I T S OF U N R E F I N E D GOLD OF DOMESTIC PRODUCTION, W I T H T H E STATES DISTRIBUTED, DURING T H E COINAGE MINTS. Locality. Philadelphia. . San Francisco. Alabama Carson. New Orleans. $92.99 . $184,58L25 2,308.41 California •^ - 7,112.46 • 6, 228.87 ' 118,i233.69 3,484,14L29 $2,011.87 2, 950.14 706.42 Dakota 13, 634. 38 90.83 Idaho 915. 72 223,924.87 13, 661. 39 Montana Nebraska ... Nevada 9, 264.91 3.3,092.13 2,649.06 380,085.47 3,136. 65 1,548.24 • . ^....-. .J 891, 993.71 " ' 8, 729. 67 58,, 140. 27 ..... 6, 060.15 Virginia 33, 307. 98 W^ashington Wyoming ^ ..i 2, 860.26 11,'262. 27 . ... Total unrefined Refined 359, 304. 54 423.91 Tennessee Other sources • ' 1,027.01 South Carolina Utah . . . " 42,186.47 North Carolina ' 1, 503. 50 131, 436.11 4,880,813.37 162. 59 ,13,923,957.86 131,598.70 18, 804,771. 23 894,92L30 894, 921.30 • DIRECTOR OF T H E 20.5 MINT. AND T E R R I T O R I E S P R O D U C I N G T H E SAME, AND OF R E F I N E D DOMESTIC B U L L I O N N O T F I S C A L Y E A R E N D E D J U N E 30,1888. ^ • ^ ' ASSAY OFFICES.. , - Total. NewSYork. , Denver. Boise. Helena. - Charlotte. Saint Louis. $821.47 $914.46 184 581.25 * • $32,732.75 • $103,291.96 . 4, 268. 52 569,897.64 k 2,427,755.72' 1 793.75 , ] , 566, 847.48 1, "657. 67 3,499,551.61 19,695.78 2,165,619.91 2,428,462.14 93,706.58 $79,278.45 7, 919. 35 $672,720.93 8,756.69 " 4 , 609. 88- ' $123, 210. 70 12,.835.78 •' 1,063,084.24 . '•: 1, 276, 014. 47 1,286.23 , 66,139. 36 66,496.16 , 2,610.86 3, 327. 72 ' 2, 404, 501. 56 1,427.13 .1,427.13. 334, 991. 66 1,042,148.97 26, 497.17 1,299,060.28 • 258, 224. 48 2,017.47 • 472, 312.07 209, 734.93 164,937.60 437,723. 99 66,362.06 34,720:26 338.60 36, 085.87 554.51 978.42 \ ,1,115.85 59, 256.12 . \_2,659.63 . 97L16 8, 719.. 78 45, 895. 85 12, 587.87 6, 770. 55 10,601.97 298.42 536, 256. 76 5,238, 313 52 . . 1,754,296 42 739, 082 99 1,199,181" 23 278, 936 31 467.17 .549,788.12 95, 765 60 15, 212, 746. 85 17,193, 559. 74 3, 269, 439 29 8, 507, 752 81 1,754,296.42' 739, 082 99 1,199,181 23 278, 936 31 95, 765. 60 32,406,306.59 206 R E P O R T ON T H E FINANCES. V . — D E P O S I T S OF U N R E F I N E D SILVER OF DOMESTIC PRODUCTION, WITH T H E STATES . DISTRIBUTED, D U R I N G T H E FISCAL COINAGE MINTS. Locality. Alabama -... Alaska Philadelphia. SanFrancisco. Carson. New Orleans Standard ozs. -.23 Standard ozs. Standard ozs. Standard ozs. 40.91 2,87413 46.47 27,304 39 5,560.48 23.78 ; 1,064. 05 Arizona California Colorado . . . . . . . . . . . . . . . ... Dakota 92.87 442.48 L55 Georgia 63. 68 Idaho :.. .. ... 139. 52 3.62 3,547.18 Michigan 3,630.43 Montana 118.61 158.37 62.27 279,763.80 46.71 3L 51 Nebraska Nevada.' .;...'.. New Mexico North Carolina . 255. 54 Oregon 72.71 South Carolina 3,176.91 7.55 Tennessee .28 Utah i. Virginia 60,025,23 i. 1 45. 69 286.32 Washington W yoming. 780,844 86 ............... Other sources Total unrefined Refined ...... ^ 28.87 442. 9b 49.17 10, 564,46 378, 304 84 16,105, 609. 90 1, 050, 555.60 780,94L35 442. 48 9, 715, 960. 20 • Grand total 16,116,174.36 1, 428, 860. 44 780,94L35 9,^16,402. 68 207 DIRECTOR OF THE MINT. AND TERRITORIES P R O D U C I N G T H E SAME, AND O F R E F I N E D DOMESTIC BULLION N O T Y E A R ENDED J U N E 30, 1888. ASSAY OFFICES. . TotaL New York. Denver. Standard ozs. Standard ozsi '"" Bois6. Helena. Charlotte. Saint Louis. Stand, ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. 14.91 14 68 1,064 05 135,687.43 29.07 30.97 27,509. 66 19,673.84 352. 66 42,575.94 34.96 16,522.70 139, 998. 67 1,367.13 25,084.52 25, 086. 07 293.43 51,076.09 89.49 15,841.95 1,165.48 , 357.11 45. 29 71,908.62 37,548.36 33,917.93 29,070.31 425,789.87 455,137.16 14 32 14.32 1, 699. 58 1,062,370.51 248, 337.72 675. 78 250, 034 77 943.05 36. 54 2,200.16 2,492.24 3L 39 ^ • 758.04 / 266.43 4,039.05 273 98 .28 7*933.64 ' 23.30 7. 94 •' , 125.01 95. 60 68.99 1 161.82 2.12 21,962.64 381. 92 5 274, 045.03 1,220,21X57 67,958.87 16, 599. 99 30,333.51 158. 67 ' 2, 760. 02 1,574 39 2, 799, 344. 84 4, 019, 556. 41 : 274,697.95 2, 463, 695. 25 29,671,470." 54 21, 962. 64 16,599.99 30, 333.51 2,760.02 1,574 39 32,135,165.79 208 R E P O R T ON T H E FINANCES. V I . - - D E P O S I T S OF U N R E F I N E D S I L Y E R OF DOMESTIC PRODUCTION, W I T H T H E STATES D I S T R I B U T E D , DURING T H E F I S C A L COINAGE MINTS. Locality. Philadelphia. San Francisco. Carson. New Orleans. $0. 28 Alabama. Alaska • $1, 238.16 .... Arizona ..'. California Colorado Dakota ...'. 47. 60 3, 344.44 54.07 31, 772. 38 6,470 37 27.67 $108.07 $514 88 1 80 ... 74 10 Georgia... Idaho ' 162 35 Michigan . . ; . . . . . 4,127. 63 4 21 4, 224 49 ' Montana 138.02 184 28 72 46 325, 543. 33 54 35 36.67 Nebraska . Nevada....' . New Mexico . . . . ... . ' 297 36 North Carolina .. 84 61 'Oregon ... 69,847. 54 Virginia 53 17 333.17 .. i. 33,59 ...... 515 44 Wyoming Other sources ' .33 Tennessee Washington 3, 696.77 8. 79 South Carolina •Utah. 908, 619 47 . Total unrefined.. Refined Grand t o t a l . . . , . 57.22 12,293 18 440, 209 26' 18, 741, 073 31 1, 222, 464. 68 18,753,366 49 1,662; 673. 94 908,731 75 514 88 11,305,845.59 908,731 75 11, 306, 360 47 209 D I R E C T O R O F T H E MINT. AND T E R R I T O R I E S P R O D U C I N G T H E SAME, AND OF R E F I N E D DOMESTIC B U L L I O N N O T Y E A R E N D E D J U N E 30, 1888. ASSAY O F F I C E S . Total. New York. Denver. Bois6. Helena. Charlotte. Saint Louis. $17.08 $17.36 33.85 162, 907. 56 36. 02 32, Oil. 22 410.37 49, 542.90 1,238.16 1 $157,890.83 $1,590.84 • 40.68 19, 226. 41 22,893.20 29,191. 06 29,189. 26 $341.44 ? 59, 433.99 1 39,468.14 1 495, 464. 58 ' 10413 $18, 434. 27 ' $1,356.19 52.70 415.54 83 675.47 43, 692. 63 529,614.15 33, 827.27 16. 66 16. 66 1, 977. 69 1, 236, 212. 95 288,974 80 786.36 1, 097.37 42.52 2, 560.18 36.53 290, 949. 55 2, 900. 06 882. 08 4, 699.99 - 310.03 -<- - 318. 82 .33 • 9, 231. 87 h ' 79, 079. 41 . 27.11 80.28 444.41 111. 24 • 9.24 188.29 145.46 318,888.76 1, 419, 882.54 2.47 25,556.52 19, 316. 35 35,297.17 184 63' 3,21L65 1, 832.02 4,677,301.98 H. Ex. 2 2, 866,845. 32 34, 526, 803. 02 3,257,419.44 : 319,648.52 25, 556. 52 14 19,316.35 35, 297.17 3,2n.65 1,832.02 37,393,648. 34 210 REPORT ON T H E FINANCES. V I L — B A R S M A N U F A C T U R E D O F GOLD AND S I L V E R , B Y ' COINAGE Description. Philadelphia. San Francisco. S t a n d a r d ozs. 3L 004 753 S t a n d a r d ozs. MINTS. New Orleans. Carson. GOLD. Fine bars Mint bars Standard bars Sterling bars Unparted' bars ^ .;. - - S t a n d a r d ozs. S t a n d a r d ozs.\ 12.695 • r T o t a l gold C... 26,169 4.816 31, 030. 922 4 816 12.695 1 SILVER. Fine bars 17, 992. 08 ^ Mint bars .... -' Standard bars SterlinfT b a r s . . . . . Unparted bars ^............... i... Total silver 452, 610.49 725, 929.73 .. 4 05 ' 17, 996.13 452, 610. 49 549.67 726, 479.40 y i l L — B A R S M A N U F A C T U R E D O F GOLD AND . S I L V E R , B Y COINAGE MINTS. Description. San Francisco. Philadelphia. $576, 832. 62 Standard bars Sterling bars Unnarted bars ... • Orleans. ^ . GOLD. Mint, b a r s New Carson. ...: ° $236.19 -. ....•.„ T o t a l gold 486. 86 $89.60 577, 319.48 89.60 236.19 SILVER. .20, 936. 23 Mint bars Standard bars SI arlinff b a r s Unparted bars .. Total silver.. • T o t a l gold a n d s i l v e r $526,674 02 844, 718.23 528, 674.02 845,357.85 526,674 02 845, 447. 45 .. 639.62 4 71 20, 940. 94 • 598, 260. 42 . 236.19 DIRECTOR OP T H E W E I G H T , D U R I N G F I S C A L Y E A R E N D E D J U N E 30, 211 MINT, 1888. . ASSAY O F F I C E S . • New York. Total. • Boi86. Denver. Helena. Charlotte. Saint Louis. S t a n d a r d ozs. S t a n d a r d ozs. S t a n d a r d ozs.- S t a n d a r d ozs. S t a n d a r d ozs. S t a n d a r d ozs. S t a n d a r d ozs. 1,425, 929. 677 636, 298. 646 368, 866. 700 112, 942.140 112,942.140 238, 355. 053 70,767.862 7,947.699 95,380.664 15,069. 056. 48, 660.495 498.'292 1, 394, 912. 229 ; 636,298.646 368,866.700 2, 513, 518. 007 95,380.664 < 48,660.495 70, 767. 862 15, 069.056 7, 947. emo 2,782,392.216 ". 6, 283, 935. 05 82,267.40 5, 087,402. 75 82,267. 40 35, 050. 96 35, 050. 96 20,868.75 31,744 05 2, 806.12 5,706.63 84, 946. 71 •^ 20, 868. 75 31,741. 05 2,806.12 5, 706. 63 6,486,200.12 826. 83 5, 205, 547. 94 22,443. 61 22, 443. 61 V A L U E , DURING F I S C A L Y E A R E N D E D J U N E 30, 1888. ASSAY O F F I C E S . Total. N e w Yfork. Denver. Boi86. Helena. ' $25,951,855.42 11 838 11435 6, 862,636.28 2,101,249.11 9,27C,55 $1, 774, 523. 97 46,763,125.71 Charlotte. • $905, 311. 53 $1, 316, 6U. 39 1. 774, 523. 97 905,311.53 Saint Louis. 1, 316, 611.39 5^280,354 52 $147,864.16 $26, 528, 924. 23 11,838,114.35 6, 862, 636. 28 2,101, 249.11 4, 434, 512. 58 280,354 52 147,864 16 51,765,436.55 7, 312, 215.31 95, 729. 34 40,786.57 I 5,919,886.83 95,729.34 40, 786. 57 . • i 962.13 26,116.19 24,283.64 36, 935. 03 3, 265. 29 6, 640. 44 98,847.05 1 6,057,3&4.87 26,116.19 24,283.64 36, 935. 03 3,265.29 6, 640. 44 7, 547, 578. 27 52, 820, 490. 58 1 1, 800, 640.16 929, 595.17 1, 353, 546. 42 283,619.81 154,504 60 59, 313, 014. 82 212 REPORT ON T H E FINANCES. I X . — C O I N A G E E X E C U T E D AT T H E M I N T S O F TJHE U N I T E D PHILADELPHIA. SAN FRANCISCO. Denomination. Pieces. Yalue. Pieces. Yalue. ' GOLD. 187, 337 160,326 102 11, 366 6,273 18,880 $3,746, 740. 00 1,603,260.00 510. 00 34, 098. 00 15, 682.50 . 18,880.00 627,750 726. 000 599, 000 384,284 5,419,170. 50 1, 952, 750 22, 810, 000.00 ' 18, 514, 673 18,514,673.00 2, 304, 000 2,304,000.00 ' 5, 673 10,673 8, 246, 327 2, 836.50 2, 668.25 824,632.70 768, 000 3, 952, 848 192, oob. 6 6 ' 8,262, 673 830,137.45 4, 720, 848 587,284 80. 26, 777,346 19,344,810.45 7,024, 848 . Dollars • T o t a l ffold \ $12, 555, 000. 00 7, 260, 000. 00 f 2, 995, 000. 00 1 SILVER. Subsidiary— TTalf'dollfliTS Quarter dollars Total subsidiary... : T o t a l silver MINOR. 1 395,284.80 2, ,891,284.80 • 15, 207,173 45,573 45, 725, 073 Tntflil eoinao'e '. - 760, 358.65 1, 367.19 457, 250.73 60, 977, 819 1, 218, 976. 57 . . 88,' 139, 449 25, 982, 957. 52 8, 977, 598 25, 701, 284.80 X . — C O I N A G E E X E C U T E D AT T H E M I N T S OF T H E PHILADELPHIA. Denomination. Pieces. Yalue. GOLD. . .. . . . . . . . . . . . . . . . . Subsidiary— Yalue. '1 283,000 . 817,000 1, 912, 000 $5, 660, 000.00 ' 8,170,000.00 9, 560, 000. 00 74, b73 582', 383. 00 3, 012, 000 23,390,0,00.00 ' ....*..... 20, 290,710 20,290, 710.00 1,771, 000 1, 771, 000.00 1 5, 710 10, 710 11, 283, 939 2,855.00 2,677. 50 1,128, 393. 90 4,454,450 11, 300,359 ,1,133, 926-. 40 4, 454, 450 445, 445.00 31,591,069 21,424, 636. 40 6, 225, 450 2,216, 445.00 ' 15,263,652 7,961 45, 226, 483 763,182.60 238. 83 452,264 83 .- SILVER. Dollars FRANCISCO. $2,420.00 536, 800. 00 435.00 18, 480. 00 15,705.00 8, 543. 00 Dollars - SAN Pieces. UNITED 121 53, 680 87 6,160 6, 282 8, 543 H a l f eao-les T o t a l gold j " 0 TTnlf flnllnr<a Total subsidiary. T o t a l silver MINOR.. Total coina^'e...... 60,498,096 1,215,686.26 92,164, 038 23, 222, 705. 66 No coinage executed at Pbiladelphia during July, 1887. ' '. 66.11 445, 445. '^ 9,237,450 25, 606, 445. 00 1 213 DIRECTOR OF T H E MINT. STATES DURING T H E F I S C A L Y E A R ENDED J U N E 30, CARSON. * Pieces. NEW Yalue. 1838. Total. ORLEANS. Pieces. . Yalue. 815, 087 899, 826 599,102 11, 366 6, 273 18, 880 $135, 000.00 13, 500 135, 00(r. 00 2, 350, 534 28, 364,170. 50 ' 11, 900, 000 11,900,000 00 32, 718, 673 32, 718, 673.00 5; 673 778, 673 12,199,175 2, 836. 50 194, 668. 25 1, 219, 917. 50 " ' 11, 900, 000. 00 • 12,035,000.00 11, 913. 500 12, 983, 521 1,417,422. 25 45, 702,194 34,136, 095. 25 15, 207,173 45, 573 45,72.5, 073 760, 358.65 • 1, 367.19 457, 250. 73 60,977,819 1,218,976.57 109, 030, 547 63, 719, 242.32 STATES DURING T H E CALENDAR Y E A R E N D E D D E C E M B E R 31, CARSON. ^ NEW Yalue. 1887. TOTAL. ORLEANS. Pieces. Yalue. ; Pieces. 283,121 870,680 1, 912, 087 6,160 6,282 8,543 , 3, 086, 873 , 11, 550, OOO $11,550,000 00 11, 550, 000 11, 550, 000. 00 .# •9 .... 11, 550, 000 . 11, 5.50, 000. 00 Total gold coinage.at New Orleans executed during June, 1888. * Coinage suspended March 8, 1885. $16,301,740.00 8, 998, 260.00 2, 995, 510. 00 34, 098. 00 15, 682. 50 18, 880.00 13, 500 11,900,000 Pieces. Yalue. Pieces. Yalue. $5, 662,420. 00 8, 706, 800. 00 9, 560, 435.00 18, 480.00 15, 705. 00 8, 543. 00 . 23, 972, 383.00 33, 611, 710 33, 611, 710. 00 5, 710 10,710 15, 738, 389 2, 855. 00 2, 677. 50 1, 573, 838. 90 15, 754, 809 1, .579, 371.40 49,366, 519 35,191, 081.40 15,263, 652 7,961 45, 226, 483 763,182.60 238. 83 452, 264 83 60, 498, 096 1,215, 686. 26 112, 951, 488 60, 379,150. 66 214 REPORT ON T H E FINANCES. XL—EARNINGS AND E X P E N D I T U R E S OF THE U N I T E D STATES M I N T S EARNINGS MINTS. Items. San Philadelphia. Francisco. New Orleans. Parting and refining charges' Allov r.baro:e - . , - . . , , . . „ - * - - . $19,600.23 $43, 625. 57 $561.13 479.95 2, 056. 63 6.87 Carson. $19, 643.24 ' 87.37 Charges for assaying, melting, and stamping Seignorage on standard silver dollarsr 4, 778,172. 34 569, 024.91 Seignorage on subsidiary silver 32, 278. 75 Seignorage on minor coins 3, 060, 725. 07 38,913.05 1, 058, 791.78 Profits on sale of medals and proof coins. Receipts from assay.s of bullion . . . .. .. . Deposit melting-room gains, aud sweepings Surplus bullion returned by operative officers... 3, 253.64 259.80 144 00 1, 010. 28 1, 092. 00 315.08 21, 586. 91 929.34 2,135.40 340. 01 216. 31 2,027.03 Gain on bullion shipped mint for coinage Proceeds of sale of old material Gain on sale of plumbic melts. Receipts from sale of by-products 1, 873.17 Total 5, 894, 975.39 . 680, 307.64 3, 061, 892.88 21, 973. 95 EXPENDITURES Salaries of officers and clerks 41, 840. 24 31, 901. 65 16, 702. 88 436, 297. 59 180, 338. 93 124, 281. 24 27, 654.00 43, 352.17 11, 643. 29 282.70 15, 028. 65 41, 492. 31 Wages of workmen and adjusters . ... Contingent expenses, less amount paid for wastage and loss on sweeps sold 113,996.76 47, 422.69 Parting and refining expenses, less amount paid for wastage and loss on sweeps sold 'Wastao'es of the operative departments Loss on sweeps of the year . . . . . . 8, 856. 06 52,135. 97 14,410.73 1, 939. 72 4, 090.45 5, 483.19 Exnense of distribntino" silver dollara 7, 954.42 ' 1 785 20 Expense of distributing subsidiary silver coins.. 2, 374. 56 2,103.50 24, 500. 78 Minor-coinao'e metal wasted Total... 10, 596. OS *14 744 28 " 3, 216.21 658, 582. 61 327, 566. 25 229,248.57 70,428.82 * Tbe expense of distributing silver dollars at New Orleans was $26.27 more, but there were repay. menr,s duriug the year'of that amount on account of overpayments iu the expense of distribution of$24.80 in the fiscal year 1887, and $1.47 in the fiscal year 1888, disallowed. « 215 DIRECTOR OF THE MINT. AND ASSAY O F F I C E S FOR T H E FISCAL YEAR E N D E D J U N E 30, 1888. AND GAINS. ASSAY OFFICES. Total. NewYork. Denver. Boi86: Helena. Charlotte. Saint Louis. $157, 727.45 $74, 297.28 4, 886.81 2, 255.99 $2,286.76 $1,156.60 $392.72 $1,703. 29 $199.26 5, 738.63 8,407,922.32 71,19L 80 1, 058, 791; 78 3, 253.64 808.00 36.00 353.00 317.00 26.00 24.00 1, 967. 80 5,463.58 . 682.05 158.46 67.09 1,680.90 282.87 10,993.55 2,063.90 810.00 592.84 c 1,5&3.43 268.28 39, 998. 96 16, 069.94 1,640.88 5, 318.45 5, 041.11 LOO 33449 18.27 18.27 13,869.06 15, 742. 23 114,423.00 5, 403.20 2,478.06 1, 369. 65 4, 994.62 . 774 41 9, 788, 592.80 AND LOSSES. 39,250. 00 10, 950. 00 3, 000.00 2,750.00 . 7,700.00 3,403.94 , 198; 991.02 23, 578.50 14, 000.00 4,315.75 825.15 12,000.00 1,385.00 ; 824,076.16 8,793.37 16,142.95 . :3,297.50 1,037.43 5,471.27 760.25 241, 917.68 93,651.78 169,955.16 0 26,946.53 6,070. 97 15, 644.61 24,483.90 4,478. 06 24, 500.78 3,216.21 171, 344. 62 31, 092. 95 10, 613.25 4,612.58 25,171.27 5,549.19 \ Includes $1,999.70 expended for repairs of building. J Includes $1,000 expended for repairs of building. 1, 534, 210.11 216 R E P O R T ON T H E FINANCES. XII.—SEIGNORAGE ON COINAGE OF S I L Y E R AT T H E M I N T S OF U N I T E D ^' DR. 1887. J u l y 1. Balance on hand: Philadelphia SanFrancisco... NewOrleans , . $95, 286. 27 • 41,831.99 13,527.69 •' Seignorage on silver dollars: Philadelphia Sao Francisco ' New Orleans $150,645.95 • ' 4,778,172.34 569,024.91 3, 060, 725. 07 _ Seignorage on subsidiary silver: Philadelphia San Francisco. - . . : 8,407,922.32 32,278.75 38, 913. 05 71,191.80 Total ..' 8,629,760.07 DIRECTOR ON T H E STATES FROM J U L Y 1, 1887, TO J U N E 30, 1888, 217 MINT. AND D I S P O S I T I O N OF SAME. CR, P a i d e x p e n s e s of d i s t r i b u t i o n : O Philadelpbia San F r a n c i s c o N e w Orleans . . . : $10,328.98 3,888.70 14, 744.28 $28, 961.96 P a i d oh a c c o u n t of w a s t a g e a n d loss on s a l e of s w e e p s : Philadeljphia : N e w Orleans 8,854 44 14,306.08 23,157.52 D e p o s i t e d i n IT. S. T r e a s u r y as f o l l o w s : PHILADELPHIA. W a r r a n t N o . 1109 No.1108 No.1884 No.1919 No.1928 No.1929 No.1930 No.1931 No.2168 No.2169 No.2170 No.2162 No.2042 • No.2042 No.2042 No.2042 No.2042... 75,304 09 19,268.19 375,000.00 360.50 425,000.00 500,000.00 515,000.00 ' 353.49 430,000.00 430,000.00 425,000.00 25,000.00 400,000.00 380,000.00 435,000.00 400,000.00 4,90419 , 4,840,190.46 : • ...:....... : NEW ORLEANS. W a r r a n t N o . 1110 No.llll N o . 1885 N o . 1925 N o . 1926 No.1927 N o . 2167 N o . 2166 No.2165 No.2042.... No.2042 No.2042 No.2042 • .' 13,527.69 145,000.00 265,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 250,000.00 300,000.00 325,000.00 300,000.00 175,000.00 — 3,023,527.69 SAN FRANCISCO. W a r r a n t N o . 1886 No.1923 N o . 1922 No.1920 No.1921 N o . 1924 No.2164 ° No.2163 No.2042 No.2042 :.... .*....• ;. 1888. J u n e 30. B a l a n c e on b a n d : Philadelphia San F r a n c i s c o N e w Orleans ; 100,000.00. 100,000.00 38,022.17 3,809.82 100,000.00 75,000.00 25,000.00 20,000.00 100,000.00 10,000.00 . 571, 831. 99 46,366.48 74, 049. 26 21, 674.71 142,090.45 Total „ : These balances h a v e been covered into t h e T r e a s u r y ; P h i l a d e l p h i a , C. D . N o . 7117 '. ^ 8,629,760.07 $46,366.48 $46,366.48 , S a n F r a n c i s c o , C. D . N o . 43192 C.D.No.43193 N e w O r l e a n s , C D . No. 43191... Total....,..-.: 67,239.71 6,809.55 •' 74,049.26 21,674 71 142,090.45 218 R E P O R T ON T H E FINANCES. X I I I . ^ - A S S E T S AND LIABILITIES OF U N I T E D STATES ISSETS. . GOLD BULLION. Institutions. Standard ounces. Yalue. 1, 240, 577.424 $23, 080, 510. 07 ' SILVER BULLION. Standard ounces. Yalue (cost). 5, 284, 728. 29 $5, 205, 603. 62 319, 468. 85 338, 366. 36 COINAGE MINTS. Philadelphia San Francisco 135, 962. 822 New Orleans 31,176..698 580, 031. 57 ' 53, 842. 348 1,001,718.13 100, 366. 55 4,471,878.351 83,197, 736. 50 3, 500, 567. 55 Carson 2, 529, 540.82 1, 081, 020.10 906, 060. 20 91, 952.32 ASSAY O F F I C E S . New York 3, 952, 913. 57 Denver Helena .; Bois6 :.. 2, 886.476 53,701.87 1, 385.651 25, 779. 56 \ 693.60 607. 56 535.13 438. 81 Charlotte Saint Louis . Total . 5, 937, 709.770 110,469,018.52 10, 287, 380. 07 10,495,942.44 LIABILITIES. Institutions. Bullion fund. Undeposited earnings. COINAGE MINTS. Philadelphia $75, 650, 010.75 : Sah Francisco 33, 243, 256. 02 New Orleans 13,446, 082. 06 Carson .. .-. 1, 326, 000. 00 : ASSAY O F F I C E S . Helena Bois6 Gharlotte . . . ! 102,692,278.30 18,480.82 73, 998. 23 ., 135.199.77 138. 83 108, 987. 52 67. 56' 20,794 48 Saint Louis 1, 603. 95 Total 226, C98, 208. 08 2,225.38 - New York Denver $2,135. 76 23, 048. 35 219 DIRECTOR OF T H E MINT. M I N T S AND ASSAY O F F I C E S J U N E 30, 1888. ASSETS'.' Gold coin. Silver coin. M i n o r coin. $263,598.70 Minor-coinage metal. Old deficiencies. $24, 634.95 Total. $77, 890.50 ^47, 334, 913. 87 4,618,295.00 25, 440, 420. 23 ]42,460.00 11,931,722.99 267, 397. 04 5, 909. 43 1,366,976.92 15,535,249.40 54, 734.11 102, 740, 633. 58 73, 995.00 3.23 81, 029.00 .17 82, 836. 00 .71 109 055. 08 20,790.00 1.48 20, 791.48 1,600.00 3. 95. 1, 603. 95 20, 901, 541.94 84, 767, 710.17 • $413, 557. 96 \ $75 987,151. 71 33,340,180.37 13, 560, 274 76 73, 998. 23 , 263,598.70 24, 634. 95 135, 338. 60 413, 557. 96 227, 336, 004 68 LIABILITIES. S e i g n o r a g e on silver. Unpaid depositors. M i n or-coin profits. ' $221, 695.05 - Minor-coin m e t a l fund. Unpaid cent depositors. *$66, 468. 60 $70. 00 Total. $75, 987,151. 71 $46, 366. 48 $2, 540. 83 74, 049. 26 20, 739. 33 33, 340,180.37 21, 674 71 92,517.99 13,560,274 76 1, 366, 976. 92 38, 751.54 . 102, 740, 633. 58 • 29,874 46 73, 998. 23 135; 338. 60 109, 055. 08 20,791.48 1, 603. 95 142, 090. 45 184, 424.15 221, 695. 05 66, 468. 60 70.00 * Includes $22,468.60 minor coins for re-coinage and re-issue. 227, 336, 004. 68 220 REPORT ON T H E FINANCES. XIV.—MEDALS MANUFACTURED AT THE M I N T AT P H I L A D E L P H I A THE F I S C A L Y E A R E N D E D JUIS^E 30, .Names. Gold. Army Division Marksmanship, First-class Prize Army Division Marksmanship, Second-Class Prize Army Departnient M,ark sm an ship, Third-Class Prize Army Division Marksmanship." ' Adams Academy. Arthur, C. A., President Artbur, Indian Peace Brown Mem,orial Bridge *. Brown, Major-General Cincinnati,' Society of the Civil Engineers, American Society of Cassin, Lieutenant Cabinet .' Department of State ' Departmen t Skirmish Prize Dodd,H.M Division Skirmish Prize Denman Grammar School .Elliott,' Captain...^. Electric Exhibition Franklin School Georgetown College.. .*. - Garfield, J. A., President Grant, Indian Peace Henley, Captain. . Harrison, W. H., President Harrison, Major-General Jones, John Paul Ketcbam, Jesse Lincoln Grammar School Life-Saving Laurence, Captain....^... Massachusetts Charitable and Mechanics' Association Middlesex South Agricultural Society, McCall, Lieutenant Monroe, J., President Marksmanship, First-Class Prize, Completion of Distinction. Marksmanship, Second-Class Prize. New England Agricultural Society Naval Institute North Cosmopolitan Grammar School National Academy of Design, New York..'. New England Keiinel Club ;. Pharmacy, College of Pittsburgh Female CoUege Preble, Captain Pierce, F., President : 1 Pennsylvania Horticultural Society ; Shakespeare Saint Louis Agricultural and Mechanical Association Taylor, Z., President. ' Time Increases His Fame Toner, Dr Truxton, Captain Yanderbilt University Yanderbilt, Commodore Yermont State Agricultural Society Yan Buren, President ^ Washington and Lee University Washington before Boston Warrington, Captain ' Total. DURING 1888. Silver. 20 2 49 25 15 2 140 1 2 124 Bronze. 221 DIRECTOR OF T H E MINT. XV.—MEDALS AND P R O O F COIN SOLD DURING T H E FISCAL YEAR 1888. Description. Number sold. 128 541 «Gold Silver . Bronze medals and minor coins Total Single proof pieces. Proof-sets. Medals. Yalue. Number sold. 52 *660 $3, 863. 97 1, 576. 38 Number sold. Yalue. .$2,236.00 1, 980. 00 740 647.65 3,289 394. 68 1,409 6,088.00 4,001 4, 610. 68 Yalue. 1,129 $3,370.75 1,129 3, 370.75 * silver and minor. XVI.—COINAGE D I E S E X E C U T E D AT THE M I N T AT P H I L A D E L P H I A D U R I N G THE FISCAL YEAR E N D E D J U N E 30,1888. Philadelpbia. Denomination. New Orleans. San Francisco. Total. GOLD COINAGE. Double eao'le Eagle Half-eagle "Three dollar 'Ouarter-ea.o le Dollar .. . ' Total 32 48 20 4 2 5 20 30 20 8 33 70 8 111 116 2 2 80 80 136 332 2 34 140 200 172 136 508 12 10 . 4 2 5 . SILVER COINAGE. •Standard dollar Half-dollar .. Quarter-dollar Dime .... .^ ... ' Total 32 60 MINOR COINAGE. ^ive-cent T?hree-cent fOne-cent .. . . .... ..... Total . .... 191 9 821 521 521 TOTAL NUMBER OF DIESi 'Gold coinage ' Silver coinage Minor coinage ;. Proof coinage Distinguished marksmen 'Ajinual assay Life-saving, Department of State Life-saving, Department ofthe Treasury.: Reproduction: William Washington 1 Total..... 191 9 321 . ^-.. Ill 508 521 26 4 1 1 1 2 .1,176 222 R E P O R T ON T H E FINANCES. X V I I — EXPENDITURFS FROM . SLLVKR P R O F I T F U N D ON ACCOUNT O F . TRANSPORTATION OF SILVER COIN DURING H S C A L YEAR ENDKD J U N E 30, lb'88. •' TRANSPORTATION O F — - Mint and quarter. Mint at Philadelphia: Third quarter, 1887 Fourth quarter, 1887 First quarter, 1888 Second quarter, 18S80 Standnrd silver dollars. ' .. Mint at San Francisco: Third quarter 1887 Fourth quarter, 1887 First quarter, 1888 Second quarter, 1888 Less amount overpaid and disallowed at New Orleans $792. 20 848.18 326. 21 326. 34 $204 72 539. 80 254 16 280. 52 $1, 890. 70 2,114 55 3 512 04 2 814 69 6, 756. 85 2, 292. 93 1, 279. 20 10, 328. 98 1,228.10 279. 38 115.35 329. 35 .. 10.32 1 343 45 1, 808. 73 720. 00 16 52 1,517.80 3, 888. 70 955. 22 5, 389. 27 5, 227.52 1, 223. 37 346. 35 93L 71 362. 91 334. 20 1,304 57 6, 320. 98 5, 590. 43 1 557 57 12, 795. 38 J, 975.17 14, 770. 55 1, 975.17 14,-744 28 4, 772.17 28, 961. 96» 1, 200. 00 720. 00 6.20 1, 926. 20 26. 27 26. 27 12, 769.11 Total by items Total. $893. 78 723. 57 2,934 67 2, 207. 83 444.70 Mint at New Orleans: Third quarter 1887 .... Fourth quarter 1887 First quarter, 1888 Second quarter 1888 Subsidiary silver. Bans, boxes, labnr. «nd incidentals. 19, 970. 66 4, 219.13 223 DIRECTOR OF T H E MINT. X V I I I — E X P E N D I T U R E S F O R DISTRIBUTION OF M I N O R 1878, TO J U N E 30, 1888. C O I N S FROM J U L Y 1, Amount expended. Fiscalyears. 1879 . $1, 299.97 .... 1880 12, 592.83 1881 23, 763. 46 1882 24, 565. 84 1883 . 28, 512. 54 1884 29,152. 32 1885 : 12,251.98 1886. . . « 847.17 1887 15, 914. 55 1888 24, 500. 78 Total 173, 401. 44 X I X . — W A S T A G E AND L o s s ON SALE O F S W E E P S , M i n t at— Losses. Phila- San F r a n delphia. cisco. Carson. N e w Orleans. 1888. Assay office. New York. Total. M e l t e r and refiner's gold wast$8,787.44 899.70 $1,195.31 Coiner'B gold w a s t a g e M e l t e r a n d refiner's S6.15 $8, 793. 59 62. 55 2 157 56 8, 051. 54 10, 030.67 silver n , 979.13 C o i n e r ' s s i l v e r wastao^e 2, 744 46 L o s s on sale of s w e e p s 5, 483.19 19,893.92 Total 2, 475.84 744.41 5 964 71 4, 090.45 $6, 070.97 1, 939. 72 14, 686. 53 6, 070. 97 15, 644. 61 42, 591.14 P A I D AS F O L L O W S : From contingent appropria8, 067. 33 tion From parting 8, 067. 33 a n d refining appropriation 1, 325. 36 F r o m silver-profit fund 8, 851. 44 Total.. 40.44 1, 649.79 F r o m s u r p l u s bullion. 19,893.92 340.01 1, 939. 72 1,690.23 6, 070. 97 14, 306.08 1, 939. 72 14, 686.53 9, 676, 06 23,157.52 6, 070.97 42, 591.14 " * D. K. Tuttle bad a surplus of 356.7'7 ounces and,the superintendent a surplus of 17. 99 ounces from mutilated coin deposits, wh"ich have not been deducted from above, the wastage of J. C. Booth. 224 REPORT ON T H E FINANCES. X X . — Q U A N T I T Y AND COST OF S I L Y E R B U L L I O N D E L I V E R E D ON P U R C H A S E S AT COINAGE M I N T S , AND N U M B E R OF S I L Y E R DOLLARS COINED M O N T H L Y DURING T H E F I S C A L YEAR 1888. Standard ounces.. Date. Cost. Coinage. 1887. 1, 864,121. 25 $1, 609, 969.90 $600, 000 August 2, 880, 337.11 2, 503, 384.59 2, 970, 000 September 2, 498,151. 79 2,184, 290.72 3,100, 040 October 2, 821, 747. 82 2, 447, 292.18 3,450, 000 2,114, 777.32 1, 818, 078. 69 3, 400, 000 .1,909,788.93 1, 661, 987.86 2, 78.5, 200 . 2, 700, 000 July - November December , 1888. January 2,308,808.90 '2, 019, 309. 97 February 2,438,497.40 s.2,114,S11.18 2, 700, 000 March 2,155, 711. 76 1, 843, 228.97 2, 760, 432 2, 200,152.46 1,858,671.65 2,794,000 2, 203, 001.40 1, 836, 802. 96 2, 850, 000 2,811,709.77 2,339.624 53, 2, 609, 000 28, 206, 805.91 24, 237, 553.20 32, 718, 672 Purchased and coined from March 1, 1878, to J u l y l , 1887 231, 998, 614. 05 229, 375,100.91 266, 988, 280 Purchased and coined from March 1, 1878, to J u l y l , 1888 260, 205, 419.96 253, 612, 654.11 299,706,952 Monthly average July 1, 1887, to J u l y 1,1888.. 2,350,567.16 2, 019, 796.10 2, 726, 556 Monthly average for 124 months 2, 098, 430. 81 2, 045, 263. 34 2, 416, 992 April • May June Total DIRECTOR OF T H E XXL—SILYER 225 MINT. B U L L I O N P U R C H A S E S MONTHLY DURING F I S C A L YEAR PHILADELPHIA. 1888. N E W ORLEANS. Date. Standard ounces. Cost. Standard ounces. Cost. 1887, Jnly 1,147, 298. 92 $990, 594 86 657, 975. 08 $568,174. 67 August..... 1,109, 440. 83 963, 873. 73 1,^098,754.10 954,735.77 September.. 1, 503, 775.81 1, 314, 873. 58 716, 867. 59 627, 446. 53 October 1, 476,134. SO 1, 280, 057. 64 1, 098,161. 00 952, 815. 45 November.. 1, 250, 645.14 3,075,067.84 674, 068. 71 579, 796. 77 Decern ber . . 949, 886. 33 826,018.76 ' 695, 458. 97 603, 452.11 January 1, 592, 795. 29 1, 393, 433. 25 672, 395. 51 587, 693. 85 February... 1, 394, 635. 40 1,209,16411 1, 028, 048. 60 892, 056.13 March.. 1,505,092.53 1, 286, 473. 72 646, 224. 09 552, 988. 03 1888. April 1, 368, 353. 83 1,156, 274 78 827, 527. 84 698, 750.13 May 1, 611,129. 58 1, 343, 554 27 587, 278. 59 489, 385. 59. June 1,726,255.48 1, 436, 453. 27 1, 081, 508. 76 899, 800. 29' *16, 635, 443. 94 14, 275; 836. 81 9, 784, 268. 84 8, 407, 095. 32; Total . SAN FRANCISCO. Date. Standard ounces. Cost. Standard oimces. Cost. Standard ounces. Cost. 1887. 58, 602. 32 $50, 984. 48 244 93 $215.89 1, 864,121.25 $1, 609, 969. 90 August.... . 671, 966. 77 584, 619. 39 175.41 155. 70 2, 880, 337.11 2, 503, 384 59 September. 277, 424. 87 241, 895. 50 83.52 75.11 2,498,154 79 2,184, 290. 72 October 247,163.10 214,166. 55 252. 54 2, 821, 747. 82 2, 447, 292.18 July • 288. 92 November. 189, 881. 80 163, 049. 59 181. 67 164.49 2,114, 777. 32 1, 818, 078. 69 December . 264, 064 29 232,170.39 379. 34 346.60 1, 909, 788. 93 1, 661, 987. 86 2, 019, 309. 97 1888. January ... 26, 956. 85 23, 721.10 16, 661, 25 14, 461. 77 2, 308, 808. 90 February.. 3,216.18 2, 798.07 12, 597.22 10, 895. 87 2,438,497.40 2,114,91418 March . . . . . 2, 947. 30 2,515. 82 3,155, 714 76 1, 843. 228. 97 1, 447.84 1, 25 L 40 April 3, 904. 08 3, 318. 47 366.71 328. 27 2, 200,152.46 1, 858, 671. 65 M a y .., 4,076.85 3, 402. 34 516. 38 460. 76 2, 203, 001. 40 1, 836, 802. 96 June; 3, 262. 51 • 2,75L67 683. 02 619. 30 2, 811, 709.77 2,339,624 53 1, 753,466, 92 1, 525, 393. 37 33, 626. 21 [29, 227. 70 28, 206, 805. 91 24, 237, 553. 20 Total H. Ex. 2- -15 226 R E P O R T ON T H E FINANCES. X X I I . — Q U A N T I T Y AND COST OF S I L Y E R USED I N T H E COINAGE OF S I L Y E R D O L L A R S , YEAR MINT AT PHILADELPHIA. Date. Standard ouuces. July August September., October November . December.. Cost. 1, 289, 062. 50 3,460,971.87 1, 718, 750.00 1, 718, 750. 00 1, 461,109. 37 $1,121,304 84 i, 273, 004 10 1, 495, 315. 69 1,489,910.15 1, 267, 699. 27 1,4C0,937.50 1, 460, 937. 50 1, 340, 996. 25 1, 232, 343. 75 1, 375, 000. 00 1,392,187.50 1, 272, 355. 97 1, 270, 032. 20 1,157,271.74 1, 054, 808. 50 1,164,30415 1,170, 496. 05 15, 911, 046. 24 13, 736, 499.66 1888. January .. February. March April .May June Total. MINT AT N E W ORLEANS. 1887. 51.5, 902, 859, 859, 859, 859, July.. August September October November December 625. 00 343. 75 375.00 375. 00 375. .00 375. 00 450, 473. 04 786, 656. 49 750,016.02 748, 325. 61 746, Oil. 28 745, 919.76 859, 375. 00 859, 375. 00 1, 031, 250. 00 1, 031, 250.00 . 945, 312. 50 644 531.25 747, 432. 80 746, 709. 45 ° 892,160.11 883, 537. 57 801, 817. 02 540, 215. 78 10, 226, 562. 50 !, 839,274. 93 1888. January February March April May June : Total M I NT A T S A N FRANCISCO. 1887. July August September. 360, 343, 386, 343, 73, November . December.. 937. 50 750.00 718. 75 750.00 046. 88 318, 302, 338, 299, 63, 418.40 239.30 637.48 392.41 884 23 1888. January :. February . March April May June Total . 137,500.00 128, 906.25 205, 390. 62 1, 980, 000. 00 120, 246. 20 112, 682. 56 179, 474. 51 1, 734, 975.09 227 DIRECTOE OF THE MINT. •AND W A S T E D A N D S O L D I N S W E E P S A T E A C H M I N T M O N T H L Y D U R I N G T H E FISCAL 1888. MINT A T P H I L A D E L P H I A . TOTAL EMPLOYMENT. WASTED AND SOLD IN S W E E P S . Standard ounces. ' Cost. 3,133.69 $2, 738. 61 2, 668.52 2 , 0 8 4 57 2, 325.19 1, 807. 02 3,012.95 2, 614.12 , 4,067.55 3, 521. 51 3, 238. 30 3; 264. 26 2, 771. 78 2, 744. 46 21, 469. 84 18,522.69 Standard ounces. D o l l a r s coined.* Seignorage. - Cost. 1, 292,196.19 1, 460, 971.87 3,718,750.00 1,721,418.52 1, 463,193. 94 $1,124, 043.45 1, 273, 004 10 1, 495, 315. 69 1,492,235.34 1, 269, 506. 29 3,500,000 1,700,040 2, 000, 000 2, 000, 000 1, 700, 200 1, 463, 950. 45 1, 460, 937. 50 1,345,063.80 3,.232, 343.75 1, 378, 238. 30 1, 395, 451. 76 1, 274, 970. 09 1, 270, 032.20 3,160,793.25 3,054,808.50 1,167, 072. 93 1,173, 240. 51 1,700,000 1, 700, 000 1, 560, 432 1, 434, 000 1, 600, 000 1, 620, 000 427, 644. 03 429, 967.80 403,160.26 379,191. 50 435,698. 85 449, 503, 95 13, 755, 022. 35 18, 514, 672 4, 778,172. 34 15,932,516.08 $378, 427, 504, 510, 432, 695.16 035. 90 6 8 4 31 089. 85 500. 73 MINT AT N E W ORLEANS. 5,64435 4, 918. 09 9, 680.99 8, 419. 94 ^ 515,625.00 907, 985.10 859, 375. 00 ' 859, 375. 00 859, 375. 00 859, 375. 00 450, 473. 04 791, 574 58 750, 016. 02 748, 325. 61 746,011.28 745, 919. 76 755, 852.74 746, 709. 45 892,160.11 883,537.57 801,817.02 556, 624.79 1, 000, 000 "1,000,000 1, 200, 000 3,200,000 1,100, 000 750, 000 8, 869, 021. 97 11, 900,000 19, 577. 58 16, 409. 01 869, 055. 99 859, 375. 00 1,031,250.00 1, 031, 250. 00 945; 312. 50 664 108 83 34, 899. 92 29, 747.04 10,261,462.42 • 1, 1, 1, 1, 1, 600, 000 Q50, 000 000, 000 000, 000 000, 000 000, 000 149 263, 249, 251 253, 254 526.96 343. 51 983. 98 674 39 988. 72 080.24 252, 567. 20 253, 290. 55 307, 839. 89 . 316, 462. 43 298 182.98 • 209, 781. 22 3,060,725.07 M I N T A T SAN FRANCISCO. 1, 625. 86 1,625.86 1, 477. 85 1, 477. 85 896.25 239. 30 637. 48 392. 41 884 23. 420, 000 400, 000 4.50, 000. 400, 000 85, 000 101,581.60 97, 760. 70 111, 362. 52' 100 607 59 21,115. 77 137, 500.00 128, 906. 25 205, 390. 62 120, 246. 20 312,682.56 179, 474. 51 160,000 150, 000 239, 000 39, 753. 80 37 317.44 59 525 49 .1, 981, 625. 86 1, 736, 452. 94 2, 304, 000 589, 024. 91 362, 343, 386, 343, 73, 563. 36 750. 00 718. 75 750. 00 046.88 319, 302, 338, 299, 63, * Exclusive of one dollar for cabinet. 228 R E P O R T ON T H E FINANCES. XXIII.—QUANTITY AND COST OF SILYER U S E D I N THE COINAGE OF S I L Y E R Doii> RECAPITULATION Month. Standard ounces. Cost. 1887. July August September , October,. November , December 515, 625. 00 $450,473.04 2, 552, 343. 75 2, 226, 379. 73 2, 664, 096. 87 2,325,259.42 2, 964, 843.75 2, 582, 278. 78 2, 921, 875. 00 2,535,313.84 2,393,531.25 2, 077, 503.26 1888. January 2, 320.312. 50 2, 019, 788. 77 February 2, 320, 312. 50 2,016,741.65 2, 372, 246.25 2,049, 431. 85 March April , 2,401,093.75 2, 058, 592.27 May 2, 449, 218. 75 2, 078, 800. 73 June 2, 242,109. 37 1, 890,186. 34 28,117, 608.74 24, 310, 749.68 Total RECAPITULATION Standard ounces. Cost. Philadelphia . 15,911,046.24 $13, 736, 499. 66 New Orleans . 10, 226, 562. 50 8,839,274.93 San Francisco 1, 980, 000. 00 1,734,975.09 Total... 28; 117; 608. 74 24.310,749.68 229 DIRECTOR OF THE MINT. LARS, AND W A S T E D AND SOLD I N S W E E P S M O N T H L Y D U R I N G T H E F I S C A L Y E A R 1888. BY MONTHS. TOTAL E M P L O Y M E N T . W A S T E D A N D SOLD I N S W E E P S . . D o l l a r s coined. standard ounces. 10,400. 90 Standard ounces. Cost.. • $9,134 55 • Seignorage. • Cost. 515, 625. 00 $450, 473. 04 600,000 $149, 526.96 2, 562, 744. 65 2, 235, 514 28 2, 970, 000 743, 620. 27 2, 664, 096. 87 2, 325, 259. 42 3,100, 040 774, 780. 5 8 ' 2, 964, 843. 75 2, 582, 278. 78 3, 450, 000 867, 721.22 2,668.52 2, 325.19 2, 924, 543. 52 2, 537, 639. 03 3, 400, 000 864, 686.16 2, 084.57 1, 807. 02 2, 395, 615. 82 2, 079.310. 28 2, 785, 200 707, 696. 74 32, 693. 94 11, 034 06 2, 333, 006.44 2, 030,822.83 2, 700, 000 680, 211.23 2, 320, 312. 50 2, 016, 741. 65 2, 700, 000 683, 258.35 2, 376, 313.80 2, 052, 953. 36 2, 760, 432 711, 000.15 2,401,093.75 2, 058, 592.27 2,794,000 735, 407. 73 4, 067. 55 3, 521. 51 / 3, 238. 30 2,771.78 2, 452, 457. 05 2, 081, 572.51 2, 850, 000 771,199. 27 22, 8^41. 84 19,153. 47 2, 264, 951. 21 1, 909, 339.81 2, 609, 000 718, 813. 66 / 57, 995.62 49, 747. 58 28,175, 604. 36 24, 360, 497.26 *32, 718, 672 8, 407, 922. 32 BY MINTS. WASTED AND SOLD IN SWEEPS. TOTAL EMPLOYMENT. D o l l a r s coined. Standard ounces. Cost. Standard ounces. Cost. Seignorage. 21,469. 84 $18, 522:69 15.932,516.08 $13, 755, 022. 35 18, 514, 672 $4, 778,172.34 34,899.92 29,747.04 ''10,261,462.42 8, 869, 021.97 11,900,000 3,060,725.07 1,625. 86 1, 477.85 1,981,625.86 1,736, 452.94 2, 304, 000 569, 024 91 57,995.62 49, 747.58 28,175, 604. 36 24, 360,497.26 *32, 718, 672 8,407,922.32 * Exclusive of one dollar for cabinet. 230 R E P O R T ON T H E FINANCES. XXIV.—COST OF T H E S I L V E R B U L L I O N CONTRACTED FOR M O N T H L Y AND D E L I V E R E D ON EACH MONTH'S CONTRACTS, TOGETHER WITH THE V A L U E ANDCOST OF THE M O N T H L Y COINAGE OF S I L V E R DOLLARS, 1888. Month. C o s t of s i l v e r c o n t r a c t e d for. C o s t of s i l v e r d e l i v e r e d on month's contracts. Cost of s i l v e r coined i n t o silver d o l l a r s . Nominal value of coinage. 1887. $1,834,105.03 $1, 837,165. 33 $450, 473. 04 $600, 000. 00 August ..i 2, 205, 713.43 2, 209, 879. 73 2, 226, 379. 73 2, 970, 000. OO'' July... September 2, 273, 512. 06 2, 278, 425. 34 2, 325, 259. 42 3, ipO, 040. 00' October 2, 243. 677. 87 2,251,512.46 2, 582, 278. 78 3,450,000.00^ November 1,917,775.28 3,921,804 20 2, 535, 313. 84 3, 400, 000. 00* December 2, 017, 978. 69 2, 023,153. 68 2,077,503.26 2, 785, 200. 00' 1888. 2, 045, 628. 97 2, 049,115.13 2, 019, 788. 77 2,700,000.00 • 1,775,994 94 3,778,295.79 2,016,744 65 2, 700, 000. 00 Marcb 2, 087, 754. 66 2, 098, 082. 59 2, 049, 431. 85 2, 760, 432. 00 April 1, 493, 073. 44 1, 497, 355. 92 2, 058, 592. 27 2, 794, 000. 00- May 2, 039, 499. 33 2,016,582.53 2,078,800.73 2, 850, 000. 00' . June 2,213,897.21 2, 216, 634. 04 1, 890,186. 34 2, 609, 000. 00- 24,148, 607. 91 24, 208, 006.^74 24, 310, 749. 68 32, 718, 672. 00 January February Total 231 DIRECTOR OF T H E MINT. XXV.—MONTHLY PURCHASE AND COINAGE INTO SILVER DOLLARS OF $2,000,000 WORTH OF S I L V E R B U L L I O N , 1888. Month. Number of . Average price fine ounces reper fine ounce quired to pro- Coining value for previous cure $2,000,000 in silver dollars. worth of bulmonth. lion. 1887. July.... — ). 96130 2, 080, 516 $2, 689, 960 August 0 .96335 2,076,089 2,684,236 Septeraber . 97154 2, 058, 587 2,661,607 October . . . . . 97287 2, 055, 773 2, 657, 969 November.. . 96442 2, 073, 785 2, 681, 257 .95788 2, 087, 944 2, 699, 564 2, 666, 604 December .. 1888. January .96972 2, 062, 451 February... .97219 2, 057, 211 2, 658, 829 March . 96421 2, 074, 237 2, 681, 842 April . 95083 2,103, 425 2, 719, 580 May . 93709 2,134, 267 2, 759, 456 2,160, 364 2, 793,197 June , . 92577 Total., 25, 024, 649 Month. Bullion conDollars coined. tained, standard ounces. 32, 354,101 Cost of bullion coined. 1887. July August • September October November .' December Januarj'^ 600, 000 515, 625. 00 $450, 473. 04 2, 970, 000 2, 552, 343. 75 2, 226, 379. 73 3,100, 040 2,664,096.87. 2, 325, 259. 42 3, 450, 000 2, 964, 843. 75 2, 582; 278. 78 3, 400, 000 2,921,875.00 2,-535," 313. 84 2, 785, 200 2, 393, 531. 25 2, 077," 503. 26 1888, 2, 700, 000 2, 320, 312. 50 2,019,788.77 2, 700, 000 2, 320, 312. 50 2, 016, 741. 65 March 2, 760, 432 2, 872, 246. 25 2,049,434 85 April 2,794,000 2,401,093.75 2, 058, 592, 27 May 2, 850, 000 2, 449, 218. 75 2, 078, 800. 73 June 2, 609, 000 2, 242,109. 37 32, 718, 672 28,117,608.74 j - February Total 1, 890,186. 34 2 4 310,749.68 232 R E P O R T ON T H E FINANCES. X X V I . — H I G H E S T , L O W E S T , AND AVERAGE VALUE OF A U N I T E D STATES SILVER DOLLAR, MEASURED B Y THE MARKET P R I C E OF SILVER, AND T H E QUANTITY OF S I L V E R PURCHASABLE WITPI A DOLLAR AT THE AVERAGE LONDON P R I C E OF SILVER, EACH YEAR SINCE 1873. \ • 'i Bullionvalue of a silver dollar. Grains of pure silver, at average price. purchasable with a United S t a t e s Highest. Lowest. Average. dollar.* Calendar years. $1. 016 $0.981 $1 004 369. 77 4 008 .970 988 375. 76 .977 .941 .991 .792 1877 .987 .902 929 399. 62 1878 .936 .839 891 416. 66 .911 .828 868 427.70 1880 .896 .875 886 419.49 1881 .896 .862 881 421. 87 1882 .887 .847 878 422.83 1883........... .868 .847 858 432.69 1884 .871 .839 861 431.18 1885 .847 .794 823 451. 09 1886 .797 .712 769 482. 77 .799 .733 758 489. 78 1873 1874 ^ • .. 3875...'. • 1876 1879 .• t 1 1887 .. • ' 964 385.11 894 415. 27 * 371.25 grains of