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ANNUAL R E P O f l T
"OF THE
SECRETARY OF THE TREASURY
01^ THE
STATE OF THE FINANCES
T H E YEA.1R 1889o
WASHINGTON:
GOVERNMENT PRINTINCJ O F F I C E .
1889.
TREASURY
DEPARTMENT,
Document No. 1244, Uhed.
Secretary.
OOMTEMTB.
Page.
RECKIPTS AND E X P E N D I T U R E S
^
Fiscal year, 1889
Fiscal year, 1890
. Fiscal year, 1891
Sinking fund
Purchase of bonds ".
XXI-XXVII
„
SURPLUS R E V E N U E
.'
Means of reduction
Tobacco t a x
Alcohol for use in the arts
1
Customs revenue
=
Horizontal reduction
.N
Tariff for revenue only
Practices of trade affecting tariff
'
'.
xxvii-xxxi
,.,. x x v i i i
xxviii
xxix
xxx
xxx
xxxi
xxxi
^
'.
„,,...
E E V I S I O N OF THE T A R I F F
:
Inequalities
.Appeals and suits
Conflicting provisions and ambiguities
Duty dependent upon use . . . . 1
Special exemptions
,
Extension of t r a d e .
Undervaluations—systems of duty
Adjustment of tariff to changed conditions..
.XXXVI-XLV
Invoices—consular authentication
...°
Coverings, packing charges, etc . . . .
Re-appraisements
Punishment offrauds
Damage allowances
Drawbacks
Refund' of duties—suits
Customs tribunal
.^
Oaths
Bonds
'.
-.
Fees........
Compensation of collectors
Consolidation of customs districts, and re-acljnstment of salaries
Revision of customs.laws
u
XXXI-XXXVI
^ xxxii
xxxii
xxxiii
'xxxiv
xxxiv
. . . xxxiv
xxxiv
xxxyr
CT'STOMS. ADMINISTRATION
•
xxxvii
xxxvii
.
xxxvii
, . . - xxxviii
xxxviii
xxxix
xxxix
XL
XL
xLi
.....
XLi
XLII
XLII
XLiv
•
Conferences of local appraisers
Expenses of collecting I he revenue from customs —^.
F O R E I G N COMMERCE
Imports and exports
Exports
xxi
xxiii
Xxiii
xxvii
xxvii
^
-... —
'...
-
—
XLIV
XLIV
XLV-LI
. XLV
XLVi
...o
.
Ill ,
^IV
.
.CONTENTS.
.•
'
^
.
'
'
.
•
.
^
'•
,
•
.
'
Page.
F O R E I G N COMMERCE—Continued.
Imports
I. Imports entered for consumption
NAVIGATION
= ..
..--..
•
.....
Bonds on documenting of vessels
Amendment of laws regulating tonnage t a x .
Signals for ships, etcc
..
. ...i
Our merchant marine
LIII
LIV .
LIV
LIV
...'.
,.
SILVER . . . ^
,
.'.,..
LI-TLIX
.=
T R A D E W I T H CENTRAL AND SOUTH AMERICA
EXPORTATION B Y RAILWAY
Causes of depreciation of silver
Indian council bills
Increased product
..,"
. Royal Commission
, Joint use of gold and silver as money
Solutions which have been proposed
Measure r e c o m m e n d e d . . . . . . . . . . . .
Advantages of the proposed measures
Possible objections and criticisms
LIX
LX
:.......
: . . . . . . . .LX-LXXXIV
_
.:
^
P R E C I O U S METALS
Deposits
.XLViii
XLix
:...
LXII
LXiii
LXV ^
„
Lxv
-...
LXVi
Lxvii
Lxxiv
LXXVI
Lxxvii^
.LXXXIV-LXXXVIII
-
Coinage
Gold bars
Purchase of silver.
Earnings and expenditures
Imports and exports
Product
^,o
• World's coinage
...,,
Metallic stock
Industrial consumption
:
.,
-
LXXXIV
'.
Lxxxv
LXXXV
LXXXV
Lxxxvi
LXXXVI
Lxxxvii
LXXXVII ,
LXXXVII
LXXXVII
i
'...:.....
^
-
Legislation
LXXXVTII
D E P O S I T S O F PUBLIC MONEYS
NATIONAL BANKS . :
.LXXXVIII-XC
, . . . . xc-xcii
IMMIGRATION
xcii-xciv.
A L I E N CONTRACT-LABOR L A W . . . =
xciv, xcv
C H I N E S E EXCLUSION ACT . . . .
INTERNAL REVENUE
ALASKA . - - .
,
•.
xcv
xcvi,xcvii
,...
.--
xcvii-c
Seal Islands.
i
R E V E N U E MARINE
LIGHT-HOUSE SERVICE ,
MARINE-HOSPITAL SERVICE
STEAMTBOAT INSPECTION S E R V I C E
LIPE-SAVING SERVICE
COAST AND GEODETIC S U R V E Y
E N G R A V I N G AND P R I N T I N G
PUBLIC BUILDINGS..
DISTRICT O F COLUMBIA
C I V I L SERVICE
1
.
'.
-
xcviii
C,CT
ci
cii
cii
cm
cm, civ ^
.- civ
civ,cv
cv, c v i .
cvi, cvii
Tables accompanywg the Reioort.
TABLE A..—Statement of the outstanding principal of t h e public debt J u n e
• 30, 1889...,
CXI
•
'
CONTENTS,.
' . '
,
y
TABLE B.—Statement of the outstanding principal of t h e public debt each
year from 1791 to 1889....
'
\ .• c x i x
TABLE C.—^Analysis of t h e principal of the public debt from J u l y 1, 1856, to
J u l y l , 1889.
..!
cxx
, T A B L E D . — S t a t e m e n t of t h e issue and redemption of loans and Treasury
notes during t h e hscal year 1889.
cxxii
TABLE E.—Stateirient showing t h e purchase of bonds on account of the sinking fund during the fiscal year 1889
cxxm
TABLE F.—Sinking fund account for the fiscal year 1889 . .
cxxix
TABLE G.—Statement of 30-year 6 per cent, bonds issued to the several Pacific railway companies
'.
cxxx
TABLE H.—Statement showing the changes in the interest-bearing debt during the year ended October 31, 1889
, cxxxi
TABLE I.—Statement showing t h e amount of gold and silver coin and bullion ; gold, silver, and currency certificates ; United States
notes, and national and State bank notes in t h e United States
and distribution thereof each year, from J u n e 30, 1860, to J u n e
30, 1889
cxxxiii
TABLE J.—Statement of the standard silver dollars, silver bullion, and subsidiary silver coin in t h e Treasury at the end of each month
from December 31, 1877, to October 31, 1889
'.
cxxxv
TABLP: K.—Statement of the annual appropriations made by CoTiigress for
each fiscal year from 1879 to.l890
-..=
..cxxxyii
TABLE L.—Statement of the net receipts during t h e year
cxxxvm
TABLE M.—Statement of the net disbursements during the year
cxxxix
TABLE N.—Statement of t h e net receipts and disbursements for the quarter
ending September 30, 1889
CXLI
TABLE O.—Statement of t h e receipts of the United States from March 4,1789,
to J u n e 30, 1889...
CXLII
TABLE P.—Statement of t h e expenditures of t h e United States from March
4,1789, to J u n e 30, 1889
......3.....
CXLVI
TABLE Q.—Statement of receipts and disbursements by United States assistant
treasurers during the year.
CL
TABLE R.—Statement showing the present liabilities of t h e United States to
Indian tribes under treaty stipulations.
CLV
T A B L E S . — S t a t e m e n t of redeemed United States securities received by the
Office of the Secretary of the Treasury for final count, examina'tion, and destruction, during the fiscal year
CLX
TABLE T.—Statement of distinctive paper, silk-threaded fiber, issued from
the Office of the Secretary of the Treasury to the Bureau of .
Engraving and Printing, and deliveries and balances of the
same, for national-bank currency, series 1882, for the fiscal year
1889
CLXi
APPENDIXES TO T H E REPORT. •
APPENDIX A . — R J J J P O R T S O F H E A B J S OF B J J B E A V S AND SUPERVISING S P E C I A L AGENT,
Index to contents of A2?pendix A.—Bepbrts: Treasurer, vi; Director of Mint, VITT;
Commissioner of InterDal Kevenne, XI; Gomptroller of Currency, x n ; Chief of Bureau of Engraving and iPrinting, xiii; First Comptroller, xiv; Second Comptroller,
XIV; Commissioner of Customs, xiv; First Auditor, xv; Second Auditor, xv;. Third
Auditor, xv; Fourth Auditor, x v ; Fifth Auditor, x v ; Sixth Auditor, xvi; Beg^
ister, XVI; Supervising Special Agent, xix.
CONTENTS.
VI
<:
R E P O R T OF THE T R E A S U R E R
.
—
Receipts and expenditures
• The state of the Treasury
°..
Unavailable funds
'......
The public debt
-»
The currency
United States notes
i:
Certificates of deposit, act of June 8, 1872.
Gold certificates-.
^
Silver certificates
'Standard silver dollars
Fractional silver coin
^
Minor coin
Recoinage of nncurrent coins
Mutilated, stolen, and counterfeit currency
Fractional .currency
Receipts from customs at New York
Clearing-house transactions
National banks
Semi-annual duty
^.'.
Pacific railroad sinking funds
Indian trust funds
District of Columbia trust funds
Captured and abandoned property
Miscellaneous trusts
Redemption of national-bank notes
Work of the office
^
-
.
Page.
3-98
,
'
'.
,.
i
,
3
4
7
8
10
13
13
14
,
.14
-1.5
16
'.. , 17
"18
--18
. ^ 19
.....
, 19
20
'
20
22
- .:
-22
23
23
23
.„
. . v 24
24
27
Appendix.
Table No. 1.—Receipts and expenditures for the fiscal year 1888, as shown
#
by warrants issued
29
Table No. 2.—Comparative statement of balances in the Treasury at the
close of the fiscal years 1888 and 1889
30
Table No. 3.—Reconciliation of the several accounts and statements of
cash in the Treasury June 30, 1889
30
Table No. 4.—Receipts and disbursements at Treasury offices... 31 i
Table No. .5.—Receipts and expenditures on account of the Post-Office Department...
32
Table No. 6.—Semi-annual duty collected .
32 '
Table No. 7.—Balances standing to the credit of disbursing officers
.32
Table No. 8.—Assets and liabilities of the Treasury J u n e 30, 1888 and
1889, respectively
:
.33,34
Table No. 10.—Assets and liabilities of the Treasury September 30, 1889..
35 •
Table No. 11.—Unavailable funds of the general Treasury and of t b e '
Post-Office Department
36
Table No. 12.—Assets and liabilities of the Treasury offices
37
Table No. 13.^Composition and distribution of the bullion fund
38
Table No. 14.—Character and distribution of the assets and liabilities of
the Treasury
39
Table No. 15.—Statement of United States bonds held in trust for national
banks
40
Table No. 16.—Dates when each issue of United States currency began ,
and ceased
^.
. ..*.
40
CONTENTS.
R E P O R T O F THE TREASURER—Continued.
VII
\
Table No. 17.—United States currency of each issue, and denomination
issued, redeemed, and outstanding
—.
41
Table No. 18.—United States currency redeemed
.
.-.
44
Table No. 19.—Issue and redemption of United States notes by denominations and by fiscal years
' 44
Table No. 20.—United States notes outstanding and redeemed, and percentage of redemptions, from t h e first year after the
issue ceased
'50
Table No. 21.—Fractional currency outstanding and redeemed, and percentage of redemption, from the first year after the is• '
sue ceased
...'.
-•--58
^ Table No. 22.—Silver certificates outstanding and redeemed, and per centage of redemption, from t h e first year after t h e issue
ceased
..«. 64
Table No. 23.—;United States currency of each issue outstanding at the
close of each fiscal year from 1862 to 1889
65
Table No. 24.—Silver certificates issu,ed, redeemed, and outstanding
66
Table No. 25.—Gold certificates issued, redeemed, and outstanding
66
Table'No. 26.—United States currency issued, redeemed, and outstanding.
67
Table No. 27.—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 1889, including $1,000,000
of unknown denominations of United States notes destroyed
...^....
68
Table No.''28.—Seven-thirty notes issued, redeemed, and outstanding
71
Table No. 29.—Coupons from United States bonds and interest notes paid
during the year
71
Table No. 30.—Number and amount of checks issued for interest on registered bonds of the United States
71
Table No. 31.—Interest on 3.65 per cent, bonds of the District of Columbia paid during the year
71
Table No. 32.—Refunding certificates issued under the act of February 26,
1879, converted into bonds of the funded loan of 1907..,
71
. Table No. 33.—Total amount of United States bonds retired for the sink,
ing fund, from May, 1869, to J u n e 30, 1889
72
Table No. 34.—Securities applied to t h e sinking fund since its commencement, May 12, 1869
73
Table No. 35.—Total amount of United States bonds retired from May,
'
1869, to J u n e 30,1889.
73
Table No. 36.—Bonds of t h e loans given in Table No. 35, retired prior to
May, 1869
•
74
Table No. 37.—Called bonds redeemed and outstanding
75
Table No. 38.—Recapitulation of the public debt statement for the close
of each fiscal year from J u n e 30, 1882, to J u n e 30, 1889,
in t h e form used since J u l y 1, 1885
78
Table No. 39.—Bonds purchased during the year
80
Table No. 40.—Changes during t h e year in t h e principal of th^e interestbearing debt, and debt on which interest has ceased^... ^ 80
Table No. 41.—Balanced statement of receipts and deliveries of money b y
the national b a n k redemption agency for t h e fiscal y e a r . .
81
Table No. 42.—Balanced statement of receipts and deliveries ot moneys by
t h e national bank redemption agency vfrora J u l y 1,1874,
to J u n e 3 0 , 1 8 8 9 . . - . _
,
81
VIII
\ ^
CONTENTS.
'
R E P O R T O F T H E TREASURER—Contimied.,
'
'
'
Page.
, \
i
Table No. 43.—National bank notes received for redemption
....
82
Table No. 44.—Result of the count of national bank notes received for reredemption, by fiscal years, to June 30, 1889 ...
82
Table No. 45.—Mode of payment for notes redeemed by t h e national bank
redemption agency, by fiscal years, to J u n e 30, 1889....
83
Table No. 46.—Disposition made of t h e notes redeemed by the national
bank redemption agency, by fiscal years, to J u n e 30,1889
83
Table,No. 47.—Deposits, redemptions, and transfers and repayments, on acaccount of n a t i o n a l b a n k s failed, in liquidation, and re-^
ducing circulation, by fiscal years, to J u n e 30, 1889, and
balance of t h e deposits at t h e close of each year
84
Table No. 48.—Deposits, redemptions, assessments for expenses, and.transfers and repayments, on account of the 5 per cent, redemption fund of national banks, by fiscal years, to J u n e 30,
1889, and balance of the deposits at t h e close of each year
85
Table No. 49.—Packages of national bank notes delivered during t h e year.
85
Table No. 50.—Expenses incurred in the redemption of national bank
notes during t h e year 85
Table No. 51.-^Monthly receipts from^ customs at New York, from April,
1878, to September, 1889, and percentage of each kind of
money received ,86
Table 'No. 52.—Shipment of silver, coin from Treasury offices and mints,
from July 1, 1885, to June,30, 1889
.'..
...•
,88
Table No. 53.—Shipment of silver coin since June 30, 1885, from Treasury
'
offices and mints, and charges thereon for transportation.
89
Table No. 54.—United States notes in t h e Treasury and certificates of de>
posit, act of J u n e 8, 1872, in the Treasury and in circulation, at the end of each month, from March, 1878,
•
to September, 1889
90
Table No. 55.—Amount of gold coin and bullion in the Treasury, and of
gold certificates outstanding, at the end of each month,
from March, 1878, to September, 1889
92
Table No. 56.—Amount of standard silver dollars coined, in the Treasury
and in circulation, and of silver certificates outstanding, at t h e end of each mouth from March, 1878, to September, 1889
94
Table No. .57.—Movement and expense of movement of standard silver dollars, by quarters, to J u n e 30, 1889
j
96
Table No. 58.—Amount of fractional silver coin in the Treasury a t the
end of each month from~May, 1879, to September, 1889.
97
Table No. 59.—Changes in t h e force employed in t h e Treasurer's office
during the year
j . . . .
98
Table No. 60.—Appropriations made for, and salaries paid to, the force
employed in t h e Treasurer's of^ce during the year
< 98
Table No. 61.—Number of drafts issued on warrants during the year
.
98
Table No. 62.—Letters, telegrams, and money packages received and trans'^
mitted during t h e year
98
REPORT O F T H E DIRECTOR O F T H E M I N T
.^^^^..i
,
:
-
Deposits and purchases of gold and silver..
Coinage
Gold and silver bars manufactured
Medals and dies manufactured
* Gold bars exchanged for gold coin
Work of t h e refineries
,-
99-275
=«
,99
101
102
102
103
103
. CONTENTS,
••
.
'
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.
•
• IX
Pago.
Purchase of silver for the coinage of t h e silver dollars
' 104
Distribution of silver dollars
...
106
Circulation of silver dollars
.........:.'
..,„„,..
106
Subsidiary silver coinage
107
,Trade-dollar recoinage
.'
108
Course of silver . . . . . .
-..
.j..
110
Seigniorage on silver
-.-:--- •. Ill
Minor coinage
1
.-•
112
Appropriations and expenditures. - - « ;
'..........
, . . 115
Earnings and expenses of t h e refineries of t h e mints and t h e assay office
at New Y o r k . .
....'
117
Earnings and expenditures of the mints and assay offices,
117 ^
Classified statement of expenditures
118
Imports and exports of the precious metals
119
Movement of gold from t h e United States
'...
122
Stock of coin in the United States . .
. . . . . 127
Gold and silver used in t h e industrial arts in the United States. . . . . . . . . . .
130
Product of gold and silver..
^ . . 132
World's coinage.
'
.'.
. 136
Estimation, of the value of foreign coins
137
Annual trial of coins
..-. J
139
Proposed l,egislation
!
=..
140
Summary of operations of the mints and assay offices
•
140
Summary of the work of minor assay offices
164
Monetary statistics ol foreign countries
. ' . . . 164*
Office of t h e Director of the Mint
'.
183
Appendix.
=
.'
Table No. 1.—Deposits and purchases of gold and silver, by w e i g h t : . . . . .
Table No. 2.^^Depo8its and purchases of gold and silver, b y value
Table No. 3.-^Deposits of unrefined gold of domestic production, with the
States and Territories producing the same, and of refined
domestic bullion not d i s t r i b u t e d - . . . . . . . . ,
....'
' T a b l e No. 4.—Deposits of unrefined gold of domestic production, with t h e
States and Territories producing the same, and of refined
domestic bullion not distributed
Table No. 5.—Deposits of unrefined silver of domestic production, with
<
t h e States and Territories producing t h e same, and of
refined domestic bullion not distributed
.'
Table No. 6.—Deposits of unrefined silver of domestic production, with
States and Territories producing the same, and of refined
domestic bullion not distributed
..
.
Table.No. 7.—Bars manufactured of gold and silver, by weight.'.
Table No. 8.—Bars manufactured of gold and silver, by value
Table No. 9.—Coinage executed in the mints during the fiscal year
Table No. 10.—^Coinage'executed at the mints during the calendar y e a r . . .
Table No. 11.—Earnings and expenditures of the mints and assay offices...
Table No. 12.—Seignorage on coinage of silver at the mints, and disposi'•
tionofsame
Table No. 13.—Assets and liabilities of rhints and assay offices
Table No. 14.—Medals manufactured at t h e mint at Philadelphia.
Table No. 15.— Coinage dies executed at the mint a t P h i l a d e l p ' h i a . . . . . . . . .
Table No. 16.—Expenditures from silver profit fund on accourtt of transportation of silver coin
186
188
190
192
194
196
198
198
200
200
202
204
206
208
209
209
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
Table
Table
^
Table
Table
.
No. 17.—Expenditures for distribution of minor coins
210
No. 18.—Wastage and loss of sweeps ....'...
210
No. 19—Quantity and cost of silver bullion delivered on purchases
a t coinagemints, and number of silver dollars coined...
210
iSTo. 20.—Silver' bullion purchases..-.
211
No. 21.—^Quantity and cost of silver used in the coinage qf silver
dollars, and wasted and sold in sweeps, at each m i n t . . .
212
Table No. 22.—Quantity and cost of silyer used in the coinage of silver
dollars, and wasted and sold in sweeps
214
Table No. 23.—Cost of the silver bullion contracted for and delivered,
with the value and cost of the coinage of silver dollars. 216
Table No. 24.—Purchase and coinage into silver dollars of $2,000,000
worth of silver bullion
.
',
216
Table No. 25.—Silver bullion ofier®!, contracted for and delivered, and
silver dollars coined
./.
^-.
217
Table No. 26.—Silver bullion offered, contr'acted for and delivered, and silver dollars coined from March 1,1878, to J u l y 1,1889.. .217
Table No. 27.—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 1 8 7 3 . . . . . . . .
218
Table'^No. 28.—Degrees of fineness of coinage of calendar year 1888, in percentages of whole number of coins assayed by assay com^
mission of 1 8 8 9 . . . . . .
....'.
219
Table No. 29.—Comparison of the business of the mints and assay offices..
222
Table No. 30.—Imports and exports of gold and silver coin and bullion
225
Table No. 31.—Statement, by countries, of th^e imports of gold and silver
ore, bullion,^ and coin into the United States
232
Table No. 32.—Statement, by coiintries, of t h e exports of domestic gold
and silver ore, bullion, and coin from t h e United'States 234
Table No. 33.^-Gold and silver ores imported and exported
238
Table No. 34.—Mani^fested imports and exports of gold and silver a t San
Francisco
G
239
Ta;ble No. 35.-^Imports of gold and silver coin and bullion a t New Orleans
240
Table No. 36.—Statement of. silver coin, bullion, and silver ore containing silver and lead in combined form, imported and entered as silver ore, a t the port of Eagle Pass, Tex., from
Mexico
240
Table No. 37.*—Statement of gold coin, gold and silver bullion, and ores,
imported into'the district of Corpus Christi through t h e
port of Laredo
.,..,.
241
Table No. 38.—Statement of all ores, coins, and bullion imported intothe^
district of Paso del Norte, via their respective p o r t s . . . . 242
Table No. 39.—Unrefined gold and silver of domestic production, its distribution by States and Territories; also refined domestic bullion (not distributed) deposited at the mints, and
assay offices from their organization to t h e close of the
last fiscal year
,
o. „ 244
Table No. 40.—Production of gold and" silver in t h e United States, from
the organization of the Mint in 1792 to 1844, and annually since
245
Table No. 41.—Ratio of silver to gold, each year, since 1687
l 246
"
' V
^ CONTENTS.
•
.
<^'.
XI
'
R E P O R T O F THE D I R E C T O R O F T H E MINT—Continued.
Page.
*' ^
.Table No. 42.—Highest, lowest, and average price of bar silver m London, per ounce British standard (.925), since 1833, and
the equivalent in United States gold coin of an ounce
1,000 fine, taken a t the average price
247
Table No. 43.—Coinage of nations—calendar years, except for Mexico and ^
Brazil and f o r l n d i a in 1884..-^
'.
248
Table No. 44.—The world's production of gold and silver
2.50
Table No. 45.—Coinage at t h e mints from their organization in 1793, by
calendar years, and by denomination of pieces
252
R E P O R T OF T H E COMMISSIONER O F INTERNAL R E V E N U E
.276-382
Tables.....
276
Collections for the current fiscal year
----' *^'^7
Receipts for the last eight fiscal years
.^
277
Receipts during the last two fiscal years
".
I - . . 277
Withdrawals for consumption during t h e last two fiscal years
279
Receipts by States and Territories during the year
279
Receipts for the first .three months of t h e present fiscal year . ,
:
280
Cost of collection
.•
281
General condition of the service
^......
282
Miscellaneous expenses
.s
282
Expenses of revenue agents
282
Work of revenue agents
283
Illicit stills seized
^---^283
Expenditures for the discovery and punishment of violations of law
284
Increase of the number of revenue agents . . . '
285
Estimated expenses of the internal-revenue service for the next fiscal year 286
sScale of salaries of collectors
' 286
Official force
, 286
Storekeepers, gangers, etc
287
Condition of the office
288
Salaries
^ 288
Stamx^s issued during the year
289
Redemption of check stamps
289
. Manufacture of stamp paper
. o - , ..;.
289
Production of stamps
290
Official count of stamps in stamp-vault
290
Collections from t a x on tobacco
1^.
290
Receipts from t a x on tobacco compared with previous year
^
291
Production of tobacco, snuff, cigars, and cigarettes
.'
291
Tabular statements relating to tobacco and manufactures of
292
Reports of district attorneys
296
Offers in^compromise
297
Abstract of seizures
.298
Direct t a x
.„..
298
Abatement claims
299
Rebate claims
.-..
299
Refunding claims
^
299
Sales of real property acquired under t h e internal-revenue laws
299
Distilled spirits
•
300
Distilleries registered and operated
1
300
Fruit distilleries registered and operated
301
Grain and molasses distilleries in operation from September 1, 1880, to ,
to September 1, 1889
302
Comparative statement of distilleries registered and operated
302
XII
'
'
^
.
CONTENTS'..
.
, '
*
Page.
R E P O R T O F T H E COMMISSIONER O F INTERNAL R E V E N U E — C o n t i n u e d .
Different kinds of,fruit brandy produced.'
1
^ Spirits rectified during the year ended April 30, 1889
'
Stock fed at distilleries....V
"....,.
Taxation of fractional parts of a gallon of distilled spirits
„
Report of the microscopist on the analysis of suspected whisky
Assessments
..r.
ii...
Production of distilled spirits'Increased withdrawals of tax-pa.id\spirits
Distilled spirits allowed for loss by leakage or evaporation in warehouse..
Spirits removed in bond for export
, Increased withdrawals of spirits for scientific purposes and use of the
United States
Transfer of spirits ^from distillery warehouses to maniifacturing warehouses
^
Alcohol in the industrial arts
I
Spirits lost by fire in warehouse for the last seventeen y e a r s . . . . .1 .
Different kinds of spirits produced, withdrawn, and remaining in warehouse for the last two fiscal years
Stock on hand, production, and movement of spirits for the last five y e a r s . . . '
Spirits remaining in warehouse at the close of the year
Spirits in distillery warehouses on October 1 for the last six years . . :
Spirits withdrawn for export during the first three months of the present
fiscal year^
.,
.^..
Comparative statement of spirits withdrawn for export
"
> Distilled spirits in the United States October 1, 1889
.
Exportation of manufactured tobacco and snuff in bond
;..
Ex'portation of cigars and cigarettes in b o n d . . ^....
.Drawback allowed on exported m e r c h a n d i s e . . . ' . . . . . . . . .
Oleomargarine
.'.
Adulteration of food and drugs
R E P O R T OF THE COMPTROLLER OF THE C U R R E N C Y . . :
,'
304
304
305
305
307
315
317
318
318
320
. 321
321
.322
323
324
325
326
327
327
,328
328
'S2S
329
329
330
339
383-462
Report submitted to C o n g r e s s . . . .
'..
383
Operations under the national banking system during the past year
< 383
Statement of national banks organized during the year .
„
j . . . I 84
States leading in numerical accessions
385
Number and capital of banks organized and closed since establishment
of system
385
Suggestions in respect to the perpetuity of the system
^ 386
Efi'ect of the establishment of t h e system upon Government securities
387
A. un iform currency provided
389
Effect upon discount and exchanges
390
Efi'ect upon rates of interest
:
:.
391
Increased security of the Union
: ......
: 393
Utility of the national banking system
393
Investment value of Government bonds
395
Suggestions as tdVelief necessary to the welfare of the system
1 396
Excess of the bonds now held by the banks
398
Reduction of duty on circulation
398
Comparative statements of the national banks for six years
399
Resources a n d liabilities at close of business September 30, 1889
' 400
Highest and lowest point, resources and liabilities
..
401
Suburban banks continguous to reserve cities
401
Organization of national banks in the Indian Territory
402
Statement of national banks closed during the year ..,.^„. ..,.„ . 0 . . . . , 4 - . . .
404
CONTENTS.
XlIl
I'lage.
R E P O R T O F T H E COMPTROLLER O F T H E C U R R E N C Y — C o n t i n u e d l
^
i
Original and converted banks
1
1405
Shareholders of national b a n k s .
„
*
1405
State taxation of national banks
' 1405
Extension of corporate existence
\ 409
Circulating notes
411
^ Decrease of circulation
j 411
Banks without circulation
1413
Security for circulation
413
Interest-bearing funded debt of the United States and amount held by
nationail banks
-.
1414
Bonded debt a t stated dates
\ 415
Market prices of United States b o n d s . .
. |416
Investment value for five years
.j
1417
Bond purchases by the Treasury
^
. ! . . . . 1417
Bond withdrawals by national banks
i418
Issues and redemption of circulating note's
1
418
Additional circulation issued and retired during the year
420
National-biank notes received for redemption duri ng the year
1421
'' /National-bank notes received and destroyed yearly since establishment of |
the system
: . . . . 1422
Notes of banks reducing circulation, and of failed and liquidating b a n k s . .
422
Duty, rederdption" charges, and assessments... „,
423
Amounts collected during past year
j^423
Lost or redeemed notes and percentage of redemption
,.
423
Notes of State banks and.percentage of redemption
I 424
Plates and dies
,
^
j 428
Loans in central reserve cities, other reserve cities, and country
^ 1428
Loans when reserve is insufficient
f432
Limitations of loans
432
Semi-annual publication of reports of condition
433
Examiners of national banks
^
i 434
Legal decisions
j 437
National banks in voluntary liquidation
j 438
Power of the courts to appoint receivers for national bauks in voluntary ^ i
liquidation
439
Receiverships
442
Failed banks
I
>«
'
'.
444
Dividends paid to creditors of failed banks
447
Inactive receiverships
448
Transactions of th© clearing-house associations
„ . . . i 449
State, savings, private banks, loan and trust companies
.! 455
Conclusion
' 461
REPORT OF C H I E F OF T H E B U R E A U O F E N G R A V I N G AND P R I N T I N G
Operations of the Bureau
463r478
.
463
Appendix.
Table No. 1.—Statement showing the United States notes, certificates of
deposit, bonds, and national-bank notes delivered di>ring the year
1464
Table No. 2.—Statement showing the internal-revenue stamps delivered'
during the year
| 465
Table No. 3.—Statement showing the customs stamps delivered during
the year
j 468
XIV
CONTJENTS.
s
.
, R E P O R T OF TH]£ C H I E F OF T H E B U R E A U OF E N G R A V I N G AND PRINTING—Ousit.
l*agft.
Table No. 4.—Statement showing t h e checks, drafts, certificates, etc., de(
liveced during the year
'.
469
Table No. 5.—Statement showing t h e specimens of securities prepared for
the Japanese and Chinese governnients, delivered during
the year
.:.
:'--. 470
Table No. 6.—Statement showing.* the specimens of scamps prepared for
the Japanese and Chinese governments, delivered during
the y e a r . . . . .
471
Table No. 7.—Summary of all classes of work delivered
,
475
Table No. 8.—Schedule of miscellaneous work done for, and of material
furnished to, thie various bureaus, etc
475
Table No. 9.^—Statement of t h e various classes of securities and other
work proposed to be executed in the fiscal year 1890
477
Table No. 10.—Statement showing the annual production of securities in
^
sheets, and the expenditnres for the last eleven years... 478
Table No. 11.—Statement showing t h e number of employes on t h e first
day of each month since J u l y 1, 1877. 478
^
R E P O R T O F T H E F I R S T COMPTROLLER
.-.-.
479-486
Warrants received, examined, etc
,
Requisitions
.:....'..
Miscellaneous work
.1
..,..'....
Suits against the United States,
:
Violation of t h e internal-revenue law, a n d depredations on t h e public
> lands ,
'
Limitation of claims
......... 1
Reports t o Congress on officers' unsettled accounts
•
r
•
,
^
Accounts, claims, etc., settled
Clerks employed and distribution of work
Army back-pay and bounty division
Army paymasters' division
.„...,.
^ ^Army pension division
Quartermasters'.division
Navy division
Indian division
.Miscellaneous claims division
Requisitions . . . .
.....:
Suits brought
,
Rooms of the office
.^
Office librarary
Public property
Office appropriations
;...
R E P O R T O F T H E COMMISSIONER O F CUSTOMS
. Amount received into the Treasury
Amount paid out of the Treasury
Conduct of the business of the office . . - . .
'
487-492
487
488
488
488
488
.^
489
489
489
; 489
490
491
1 . . 492
492
.1
492
492
:
=
:
,
=
493-498
'.-,..
.'
...
493
494
.^ 494
Appendix.
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 ot net proceeds of unclaimed goods sold during t h e
year
•
,.
484
485
485
.'
•
R E P O R T O F T H E SECOND COMPTROLLER.
479
483
483
483
496
498
XV
CONTENTS.
REPORT O F I H E F I R S T AUDITOR
:...
Page.
499^5112
-;
Work of the office: ^ ^
.
'
»
, •
\
Accounts adjusted
-»
.'
4|99
Customs division
5'09
,
Judiciary division
'.
^09
Public-debt division . . . . . I . .
^09
Miscellaneous division
:
510
Warehouse and bond division
510
^
Comparative statemeiit, by fiscal years, of .transactions from 1861 to
1889......
.;
=»
511
R E P O R T O F T H E SECOND AUDITOR
513- -527
„,.
i'
Work df the office:
Book-keepers' division
Paymasters' division
.....'.
Ordnance, medical, and miscellaneous divisions
Indian division 1..
Pay and bounty division
,
Division for the investigation of frauds
'.
Property division
.
Division of inquiries and replies
Mail division
= .;.....
Archives division
!
^
o
Condition of public business
Insufficient clerical f o r c e . . : '.
Records in offices of Paymaster-General and Second Auditor
Delay in payment of claims for arrears of pay and bounty
»....-.
Indian home guards
......i
513
515
516
kl7
519
520
|521
|521
|522
522
.23
524
52'5
526
526
REPORT OF THE THIRD AUDITOR
528f552
Work of the office : .
Horse claims division
'Military division
Claims division
.\.,.
Collection division
,.
Pension division
Book-keepers' division
,
.',
Miscellaneous division
Review of the condition of the business of t h e office
.
» i 528
| 529
530
j 530
! 531
^. j 541
| 551
551
•
.
.553-566
553
554
562^
R E P O R T O F T H E F O U R T H AUDITOR
,
Balances and liabilities under pay of the Navy and Marine Corps.
Appropriations and expenditures of t h e Navy
Exchange
..
Work of the office: '
General claims d i v i s i o n . . ! . . . . . » .
Navy pay and pension division
Paymasters' division
Prize-money, record, and files division.. .= . . . .
•
^ Necessity for an increase of force
„
R E P O R T O F T H E F I F T H AUDITOR
•
Work of the office :
Diplomatic and consular division
Internal-revenue division
Miscellaneous division
00 = 0..^...*..
•'
•
562
563
565
565
565
:
,
.
i...
567^05
.
[ 568
j 572
573
i
XVI
,
-^
••
CONTENTS,' >
'
,
.
•
R E P O R T O F T H E F I F T H AUDITOR—Continued.
,
Appendix.
Tablet A.—Statement of expenses of the diplomatic service during t h e y e a r . .
Table B.—Statement of consular fees, salaries, a n d expenses during t h e
year
......--.:.--»...
"...
.^
Table C.—Statement of consular fees, compensation, expenses, and loss by
exchange during t h e year .*.....
•.
Table D.—Naines of censnlar clerks, with their salaries and expenses, during the year
.......!......
^.......
Table E.—Statement of sundry expenses a t consulates in China, Japan,
Siam, Turkey, and Zanzibar, during t h e year
Table F.—Statement of relief afforded seamen, with extra wages and ar. ^
rears, during t h e year , , , .
Table G.—Statement showing the number of seamen sent to t h e United
States, and the amount paid a t the Treasui^y for passage, during t h e year
„J
'....
; Table H.—Statement showing t h e character and amount of the official
fees collected a t each consulate during the year
.
Table I.—Internal-revenue stamps and assessments charged and'cash deposited, during the year
^
Table K.—Internal-revenue expenses during the year
REPORT OF THE SIXTH AUDITOR
Work of the office :
Office of t h e chief clerk
Examining division i
Postal-review division :
Registering division
Book-keeping division ..»„„
Collecting division
Pay division .'.
:
'.
Review division
Inspecting division
Checking division
Record d i v i s i o n . . . .
Foreign division
577
580
588
591
592
*
593
595
596
600
600
606-619
'
606
608*
609
610
610
612
613
614
614
615
615
618
1.........
,.
=
REPORT OF THE REGISTER
Distribution of force and salaries of the office during the year :
Work of t h e office :
.
Division of receii:)ts and expenditures
Division of loans
Division of notes, coupons, and currency
Division of interest and expense of loans
Review and suggestions
.'
- - . . 620-826
o
,
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 y e a r . . .
.
Table C.—Transactions in Spanish indemiiity bonds . . . . . . . . ^
Table D.—General summary of bonds for issue
Table E.—Work performed by the division
oo...»
Page.
'
620
, 621
624
626
628
6.29
630
630
630
631
631
XVII
CONTENTS.'
(
V
R E P O R T OF T H E REGISTER—Continued.
Page.
^ *
Note, coupon, and currency division: •
'
•
Table
I.—Number and amount of gold certificates, currency certificates of deposit, and seven-thirty Treasury notes received and registered
,..,.•
, 633
Table II.--Number and amount-of interest checks of various loans
' on hand July 1, 1888, and received in fiscal year 1889,
and number counted, registered, examined, and comi
pared
.1
'.
634
Table I I a.—Number and amount of interest checks of .various loans I
t
'
•
etc
'
'
j
received
,..
635
Table III.—Number of redeemed detached coupons of various loans on ,
hand received, counted, examined, etc
636
Table Illa.—Comp'arative statement of redeemed (detached) cpupons, !
"r----
. i^^^
Tablt:". III&.—Number of redeemed detached coupons of various lof^ns
received .'.-.
Table IV.—Number and amount of redeemed (detached) coupons received in the note, coupon, and currency division up to
J u n e 30, 1889
Table V.—Number and amount of exchanged, redeemed, and trans^ferred United States coupon bonds examined, counted,
etc
Table V I . - N u m b e r and amount of United States notes, silver certificates, gold certificates, refunding certificates,, fractional currency, etc., examined, counted, canceled,
-p
and destroyed
Table VI<x.—Number and amount of United States demand notes, re;
funding certificates, one, two-year and compound in'
'.
terest notes, counted, canceled, and destroyed
Table VII.—Schedule of statistical d e s t r u c t i o n . . . .
•.
Table VIII.-rWork performed in files rooms
....:........
Table IX.—Miscellaneous work, other t h a n current, performed..
Table X.—Number and amount of exchanged, redeemed, and
transferred United States coupon bonds, and number
>
of attached coupons t h a t after examination, registration, etc., have been delivered to the destruction
committee
Table XL—Number and amount of exchanged, redeemed, and
transferred United States coupon bonds and number of
" attached coupons that have been examined, registered,
and scheduled in duplicate, and are on
file
Table XII.—Consolidated recapitulation of Table XI- . . , , ,
......
Table XIII.—Exchanged, redeeraedt and transferred United States
couxjon bonds, after having been entered iii the numerical register, returned to and now on file in the loan
division
1
Table XIV.—United States coupon bonds becoming statistical redemptions, and after having been entered in the numerical registers delivered to the destruction committee
by the loan division
'
Table XV.—United States interest-bearing notes and certificates
issued, redeemed, and o u t s t a n d i n g . . . . . ^ . . . . . . , . . . , . ,
Fi 89—^11
|
J537
j
, |638
039
|640
|642
|643
|643
|643
J645
J648
[ 652
| 654
i 654
i 655
XVIII
CONTENTS.
'• Page
R E P O R T OF T H E REGiSTER-rContinued.
Receipts and expenditures division:
Receipts from customs
. . . . . 661
sales of public lands
.,
j .
663
internal revenue
..1
665
consular fees.
'.....666
.
registers' and receivers' fees . .
}.
669
labor, dray age, etc . . . . . .
:..
671
services of United States officers
672
weighing fees
673
. customs-officers'fees
."
673
mileage of examiners
673
fines, penalties, and forfeitures (customs)
673
emolument fees (customs)
675
immigrant fund ...'.
>..
676.
fines, penalties, and forfeitures (judiciary)
677
emolument fees (judiciary)
678
sales of Government property
.....^
679
Pacific railway companies
o
679
Indian lands . . . . . . 1
,679
loans, etc
679
: revenues District of Columbia
680
War and Navy Departments
680
profits on coinage
x 680
increasing water supply District of Columibia
680
re-imbursements national-bank redemption agency..
680
, miscellaneous
680
Balances of appropriations and expenditures, e t c . :
Treasury
682
Diplomatic
—
719
Judiciary
-. . 1 . 723"
Customs
-•
,
728
Interior civil
734
Internal r e v e n u e —
,
744
Public debt
745
Interior—Indians
747
Interior—pensions
762
Military establishment
..,
763 .
Naval establishment
789
Recapitulation
:
798
Public debt of the United States outstanding
799
P u b l i c d e b t of the United States from 1791 to 1836
800
Principal of the public debt on t h e 1st of J a n u a r y of each year from
1837 to 1843, and on the 1st day. of July of each year from 1843 to 1889.. 802
Expenses of collecting the revenue from customs
804
Expenditures for assessing and collecting the internal revenue
806
Statement showing t h e number, occupation, and compensation of persons
employied in t h e customs service
..
807
Population, net revenue, and net expenditures of t h e Government from
1837 to 1889
823
Comparative statement of the receipts and expenditures on account of"
internal revenue
824 »
Comparative statement of t h e receipts and expenditures'on account of
customs
824
Receipts and expenditures of the Govern rue nt
:?-r ?,- - ^^^
CONTENTS.
(
R E P O R T O F T H E SUPERVISING SPECIAL A G E N T
Review and suggestions
XIX
Page,
. . . » . . . . : 827-833
1
*
.
Appendix.
....
827
> •
Transactions in each of the customs districts during t h e year
..
830 '
APPENDIX B . — C O B E E S P O N D E N G E OF T H E SEGRETAIiY OF T H E TBEASUBT Y^TH T H E
P B I N C I P A L OFFIGEBS OF T H E CUSTOMS R E L A T I V E T q T H E T A R I F F R E V I S I O N
PROPOSED B Y HOUSE B I L L S NOS. 9051 AND 8383, AND SENATE AMENDMENT TO
HOUSE B I L L NO. 9051 OF T H E 50TH GONGBESS.
/
•
_
,
•
••
L E T T E R O F T H E SECRETARY O F T H E TREASURY TO OFFICERS O F THE C U S TOMS
,
-.
. -:
.
834
ANSWERS TO T H E L E T T E R O F T H E SECRETARY O F T H E TREASURY
835-943
From the collector of customs at Boston
835
From t h e United States appraiser at Boston
...... ^
848
From the United States appraiser at Baltimore
852
From O. D.- Madge, clerk to t h e United States general ai^praiser a t Baltimore
:
:
-'
.,
873 I
' From t h e collector of customs at San Francisco
.^
882
From the United States appraiser at San Francisco
^
884
From the collector of customs a t Philadelphia
...'...
889 '
From t h e United States appraiser at Philadelphia
'.
' 895
From the collector of customs at Chicago
'..
897
From t h e United States appraiser a t Chicago
;
898
From t h e collector of customs at New York
.'
905
Frorn deputy collectors of customs a t New York
1
906,908
From t h e office of the surveyor of customs at New York
909
From t h e naval officer of customs.at New York
912
From the United States appraiser at New York
.:. „
916
From the board of United States general appraisers
..:
933
Report of t h e chief of the division of customs, office of the Secretary of
the Treasury
936
ATPEii^Dix C.-EXAMINATIONS I N T H E TBEASUBT
L E T T E R OF T H E C H I E F CLERK
HISTORY OF EXAMINATIONS
R E P O R T O F EXAMINER
DEPABTMENT
!
i
• 944
045
947-964
, Number of examinations for promotion held d u r i n g t h e year
'^.
Request for office questions, Class One and a b o v e . . .
Report on candidates' standing, Class One and above
Request for office questions. Class E or less
Report of candidates' standing, Class .E or less
Specimen examination questions
,
....,,
...
047
948
948 '
049
949
950
HEI^ORT,
TREASURY DEPARTMENT^
Washington, D. (7., December % 1889,
SIR : I have the honor to submijb the following report:
RECEIPTS AND EXPENDITURES.
Fiscal year 1889,
The ordinary revenues of the Government from all sources for the
hscal year ended June 30, 1889, were:
From customs
From internal revenue...'
From profits on coinage, bullion deposits, and assays
From sales of public lands...
From fees—consular, letters-patent, and land
From' tax on national banks
:
From sinking-fund for Pacific railways
From customs fees, fines, penalties, and forfeitures
From repayment of interest by Pacific railways
From Soldiers' Home,=permanent fund.:
'.
From sales of Indian lands
-.
From tax on seal-skins
:
. From sales of Government property
From immigrant fund
From deposits for surveying public lands,
;
From depredations on public lands
From sale of condemned naval vessels
From revenues of the District of Columbia
t
From miscellaneous sources
$223,832,741 69
130,881,513 92
10,165,264 79
8,038,651 79
3, 378, 0iS3 59 ,
1, 536, 087 16
.;
,
1,321,124 53
1,113, 020 78
603, 764 72
^ 592, 427" 25
...;
446; 258 19
...i
317,500 00
.....^..
295,530, 42
236,196 50
95, 818 63
65, 434 29
22, 582 75
2, 523, 950 69
1, 584,127 15
'Total ordinary receipts
, 387,050,058 84'
The ordinary expenditures for the same period were :
o
•
•
.
.
:
•
•
•
'
'
.
For civil expenses
,
$25,566,131 05
For foreign intercourse
'.
1, 897, 625 72
For Indian service
6,892,207 78
For pensions
,.,
87,624,779 11
For the military establishment, including rivers and harbors and
• arsenals
•
.'.... .-...
44,435,270 85
For the naval establishment, including vessels, machinery, and improvements at navy-yards
21, 378, 809 31
For miscellaneous expenditures, including public buildings, light- ,^
houses, and collecting the revenues
47,951,637 57
XXI
XXII
BEPORT OF THE SECRETARY OP THE TREASURY.
^ For expenditures on account of the Di strict of Columbia. .^'
For interest on the public.debt..,
^ '
Total ordinary expenditures
$5, 248, 669 92
41,001,484 29
i
Leaving a surplus of.
.*.....
281,996,615 60 ,
'.
105,053,443 24
Of which there was used in the redemption of notes and fractional
currency, and purchase of bonds for the sinking fund, the sum of.
^
,0
K
•^-.
'
' '
47, 583, 313 65
—^
Leaving a net surplus for the year of.
:—
57,470,129 59
In his last annual report to >Congress my predecessor in office estimated that the revenues of the Government for the fiscal year to end
June 30, 1889, would exceed ordinary expenditures, not including the
sinking-fund, by $104,000,000. The accuracy of his forecast is demon- ^
strated by the results set forth in-the foregoing tables.
As compared with the fiscal year 1888, the receipts for 1889 have
increased $7,783,984.08, as follows:
Source.
Internal revenue
....iiontiiii:!::
.
Profits o n coinage assays etc
S o l d i e r s ' U o m e p e r n a a n e n t fuiid
Sinkings-fund for Pacific r a i l w a y s
Customs eniolinnentfees
$6,584,641
4,-741,568
•777,630
214,797
159,237
150,793
78,558
94
06
31
75
96
10
48
.^
X $3,163,365
433,829
248,543
, 212,479
126,399
83,083
77,932
70,346
.66,072
54.993
, 50,992
21,639
11,993
301,573
R e g i s t e r s ' a n d r e c e i v e r s ' fees
T a x on national banks
R e v e n u e s of t l i e D i s t r i c t of C o l u m b i a
Sale of'Condemned n a v a l vessels
D e p o s i t s for s u r v e y i n g p u b l i c l a n d s
I m m i g r a n t fund..
C u s t o m s fines, p e n a l t i e s , a n d f o r f e i t u r e s
Fees on letters-patent
C u s i o ' m - h o u s e fees
Misceilaneous items
Total
.
Net increase.
Decrease.
Increase.
12,707,227 60
44
24
99
69
62
13
23
84
13
00
71
16
19
15
.'
4,923,243 52
/"..
$7,783,984 08
There was an increase in the ordinary expenditures of $22,342,656.93,
as follows:
Pensions
^
•^^ar D e p a r t m e n t
N a v y Department..:^
Indians
'.
'
Interest on the public debt
Total
$7,711,803
7,336,270
5,912,834
4,452,371
642,899
Net increase.
Decrease.
Increase.
46
34
74
66
91
J
$3,713,523 18
26,056,180 11
3,713,523 18
$22,342,656 93
R E C E I P T S AND E X P E N D I T U R E S ,
1890-^91.
xxni
Fiscal year 1890.
For the present fiscal year the revenues, actual and estimated, ^re
as follows:
Quarter ended
S e p t e m b e r 30,
1889.
Source.
Customs
Internal revenue
S a l e s of p u b l i c l a n d s
Profits o n coinage assays etc
:
Fees—consular, letters-patent, a n d land
I n t e r e s t a n d s i n k i n g - f u n d , Pacific r a i l w a y s ...
C u s t o m s fees fines p e n a l t i e s e t c
D e p o s i t s for s u r v e y i n g p u b l i c l a n d s
R e v e n u e s of t h e D i s t r i c t of C o l u m b i a
Miscellaneous
Total ordinary receipts
Actual.
$58,274,697
34,733,244
1,957,706
1,473,940
661,392
873,920
645,876
292,323
40,070
33,411'
295,145
811,599
Estimated.
04
$161,725; 302
96100,266,755
51
5,042,293
83
7,026„059
98
838,607
46 • 2,126,079
19
1,354,123
39
707,076
41
209,929
13
216,588
61
2,204,854
17
3,188,400
100,093,328 68
.
Remaining
three-fourths
of t h e y e a r .
96
04
49
17
02
54
81
61
59
87
39
83
284,906,671 32
Total.
$220,000,000
135 000 000
7,000,000
8 500,000
1,500,000
3,000,000
2,000,GOO
1,000,000
250,000
250,000
2,500,000
4,000,000
00
00
00
00
00
00
00
00
00
00
00
00
385,000,000 00
The expenditures for the same period, actual and estimated, are as
follows:
Quarter ended
S e p t e m b e r 30,
1889.
Object.
R e m a i n in g
three-fourths
of t h e y e a r .
Total.
Estimated.
Civil a n d m i s c e l l a n e o u s , i n c l u d i n g p u b l i c
building's, l i g h t - h o u s e s , a n d c o l l e c t i n g t h e
revenue
tndiiins
;....
Pensions
M i l i t a r y e s t a b l i s h m e n t , i n c l u d i n g fortifications, river a n d h a r b o r i m p r o v e m e n t s , a n d
arsenals
Naval establishment, including vessels a n d
machinery, and improvements at navyyards
?.
E x p e n d i t u r e s for D i s t r i c t of C o l u m b i a
Interest on the public debt
Total ordinary expenditures..
$19,593,943 32
2,024,876 03
35,487,627 37
$50,406:056 68
4,975,123 97
68,5J.2,372 63
$70,000,000 00
s 7,000,000 00
104; 000,000 00
14,762,047 51
33,237,952 49
48,000,000 00
5,476,675 92
1,819,727 00
10,293,457 17
17,523,324 08
3,150,273 00
25,706,542 83
23,000,000 00
5,000,000 00
36,000,000 00
89,488,354 32
203,511,645 68
293,000,000 00
Total receipts, actual and estimated
Total expenditures, actual and estimated
Estimated surplus, applicable to the purchase of bonds
Estimated amount rec^uired for^the sinking-fund
Leaving a net surplus for the year of.
.
'
$385,000,000 00
293, 000, 000 00
92, 000,000/00
48, 321,116 99
43, 678, 883 01
Fiscal year 1891.
The revenues of the Government for the fiscal year ending June 30,
1891, are thus estimated upon the basis of existing laws:
From customs
From internal revenue
From sales of public lands
$220,000,000 00
135,000,000,00
7,000,000 00
XXlV
liEPORT OF THE SECRETARY OE THE
From profits on-coinage, assays, etc
From fees—consular, letters-patent, and land
• From interest and sinking-fund, Pacific railways
From tax on national banks
From customs fees, fines, penalties, etc
From sales of Government property
From deposits for surveying public lands
From revenues of the District of Columbia..
From miscellaneous sources........
•'.
TREASURY.
$8,500,000 00
3,000,000 00
2, 000, 000 00
1, 500, 000 00
1, 000, 000 00
250, 000 00
250, 000 00,
2, 500, 000 ^00
4, 000, 000 00
.,...•
,
Total estimated receipts!
385,000,000 00
The estimates of expenditures for the same period, as submitted by
the several Executive Departments and offi.ces, are as follows:
Legislative establishment
Executive establishment—
, Executive proper
=
State Department
Treasury Department
War Department
Navy Department
Interior Department
Post-Office Department....:
Department of Agriculture
Department of Labor
Department of Justice
1
Postal service
Miscellaneous—
•Legislative.
Treasury Department
War Department
Interior Department
Department of Justice
District of Columbia
$153,644
150,150
8,790,274
2,188,750
450,906
-. 4,791,794
898,770
1,-208, 430
158,410
190,650
,
.'^.
:
Judicial establishment
Foreign intercourse
Military establishment
Naval establishment
Indian affairs...
Pensions..
:
, Public Works—
Legislative.....
Treasury Department
War Department
Navy Department
Interior Department
Department of Justice
$3,399,152 15
00
00 55
00
00
00
00
00
00
00
.!
-.
,
..-.
.:
8,900
'5, 453, 453
12,020,134
1,308,755
212, 400
3, 800
,
.-
•
:
18,981,778
454, 750
1,807,285
^25,403,148
24,290,498
'5,804, 399
98,587,252
55
00
00
86
79
77
00
00
00
74
00
00
00
19, 007, 442 -74
7,020,361 65
.".
3,021,531
10,542,694
5,551,040
6,650,575
3,900 000
5,380,114
, .
12
45
35
00
00
27
^
35, 045, 955 19
Permanent annual appropriations—
Interest on the public debt
31, 500, 000
Refunding—customs, internal revenue, lands, etc..10, 393, 680
Collecting revenue from customs
5, 500, 000
Miscellaneous
5,075,700
00
00
00
00
52, 469, 380 00
Total estimated expenditures, excluding sinking-fund.
. 292, 271, 404 70
Or an estimated surplus of
Estimated amount required for the smking-fund
92, 728, 595 30
49,159, 073 00
Leaving a net surplus for the year of.
43, 569, 522 30
:
REDEMPTION OF BONDS, ETC.
XXV
The net surplus for the fiscal year 1889, together with $5,940 received
for four.per cent, bonds issued for interest accrued on refunding certificates converted during the year, and $33,503,357.76 taken from the '
cash balance in the Treasury at the beginning of the year, making altogether $90,979,427.35, was applied to the purchase and redemption of
the debt, as follows:
Redemption of—
'
'
^ Loan of July and August, 1861
Loan of July and August, 1861, continued at 3J per cent
Loan of 1863,...
Loan of 1863, continued at 3^- per cent....,
:
Five-twenties of 1862
Consols of 1865
Consols of 1867
!
Consols of 1868
Ten-forties of 1864
\
Funded loan of 1881
,..:.....
' Funded loan of 1881, continued at 3J per cent
'.
Loan of 1882
.....:
:
."
Old demand, compound-interest, an^ other notes
Purchase of—
•
<
Funded loan of 1891
:
Funded loan of 1907
^
Premium on funded loan of 1891
Premium on funded loan of 1907.....
;.....;.
Total
$3,600
26, 750
2,100
1,100
1,050
7, 600
22,200
.5, 450
4, 000
2,100
7,350
436,200
3,755
00
00
00
00
00
00
00
00
00,
00
00
00
00
70,414,200
11,266,750
5,520,686
3, 254, 535
00
00
86
49
90, 979,427 35
As compared with $103,220,464.71 at the close of the fiscal year 1888,,
the cash balance in the Treasury over and above all accrued liabilities
at the close of 1889 was $71,484,042.39. If to this balance thei^e be
added the estimated surplus for the current fiscal year, the amount
that may be applied to the purchase of bonds to June 30, 1890, will
be $163,484,042.39. Bonds and other obligations of the United,
States have already been purchased a^nd redeemed to the extent of
$50,465,485.49, leaving the available cash on hand ISTovember 1, 1889,
$45,335,762.40. .
/,
'
As shown by the foregoing statements the total revenues of the
United States for the year ended June 30, 1889, amounted to>
$387,050,058.84,
'
• , ,
The increase over the fiscal year 1888 was $7,783,984.08, The increase for 1888 over the fiscal year 1887 was $7,862,797.10.
The total amount received from customs, the last fiscal year, was
$223,832,741.69, showing an increase over the year 1888 of $4,741,568.06,
and being the largest amount ever received in any one year from that
source.
The total net receipts from internal revenue for the fiscal year 1889,
as shown by the books of the Treasury, were $130,881,513.92, being
an increase over the year 1888 of $6,584,641„94o
XXVI
REPORT OF THE SECRETARY OF ;rHE TREASURY. '
There was a decrease of $3,163,365.44 from the sales of public lands,
and of $378,86.0.48 from miscellaneous sources.
The total receipts of the last fiscal year have been exceeded bat six
times in the history of the Government, The ordinary expenditures
of the fiscal year'ended June 30, 1889, fexclusive of premium on bonds,
were also greater than in any other year, except during the war period,
and the years which bore its cost most heavily, being $22,342,656.93
greater than for the fiscal year 1888. The expenditures for the last
quarter of the fiscal year 1889 were $9,790,696.74 less than for the last
quarter of the fiscal year 1888.
The amount estimated for pensions for the year 1889 was $76,312,400,
and the estimates for same purpose, herewith submitted, for the year 1891
are $98,587,252, showing an apparent increase of $22,274,852. These
figures, however, do not even approximately represent the actual
increase of expenditure for pensions, because the estimate for the
year 1889 was wholly inadequate to meet the demands of the service.
.The amount regularly appropriated for pensions for that year was
$81,758,700. To this was added a deficiency appropriation by last
Congress of $8,000,000, and about $8,000,000 more were necessarily
drawn from the appropriations for the current year, to pay pensions
jdue in the fiscal year 1889, but for which sufficient appropriations
had not been made. The total amount^ therefore, which was actually required for pensions for the fiscal year ended June 30, 1889, was
$95,624,779.11.
The amount appropriated for pensions for the current year was
the same as last year ($81,758,700) ; but there is an estimated deficiency of $24,000,000 for this year, making a total of $105,758,700;
deducting from this the $8,000,000 drawn out, as above stated, to meet
the deficiency for last year, will leave chargeable to the current year
$97,^758,700. The amounts actual and estimated for^ pensions - will
therefore stand as follows :
Expendedfortheyear ended June 30, 1889.....
$95,624,779 11
Appropriated and estimated for year ending June 30, 1890.. 97,758,700 00 ,
Estimated for year ending J a n e 30,1891
..'.
98,587,252 00
A comparison of the expenditures of 1879 with those of 1889 will
show that during the last ten years the increase of pensions has not
differed very widely from the decrease of interest on the public debt;
^ '
Pensions in 1879
Pensions in 1889
Interest on public debt, 1879.....
Interest on public debt, 1889.^
$35,121,482
95,624,779
105,327,949
^, 41,001,484
39
11
00
29
SURPLUS REVENUE.
XXVII
No patriotic American has ever complained of the vast amounts of ,
interest paid to the men who loaned their money to preserve the integrity
of the nation; much less will they complain of any just and proper
recognition of the claims of men who, in the nation^ s hour of extreme
peril, sacrificed their lives and health to save it.
8in7cing-fundo
°
Under the requirements of the act of February 25, 1862 (Eevised
Statutes, §§ 3688, 3689), establishing a sinking-fund for the gradual extinguishment of the public debt, estimated for the current fiscal year at
$48,321 116.99, there have been redeemed during the months of July,
August, September, and October fractional currency. Treasury notes,
and bonds of the United States which had ceased to bear interest,
amounting to $11,310, in addition to the purchase of $12,136,750 of
the funded loan of 1891 and $27,695,600 of the funded loan of 1907,
a;t a cost to the fund for premium of $710,666.79 on the former and
$7,536,058o37 on the latter loan. The requirements of the fund for the
fiscal year 1890 have thus been practically provided for.
Purchase of bonds.
During the twelve months ended October 31, 1889, there were purchased under the circular of April 17, 1888, United States bonds to the
amount of $99,233,950. Of these, $32,279,400 were obtained prior to
March 4, 1889, and $66,954,550 after that date,
. Notwithstanding the diminished supply of bonds for sale in the
markets the Government has been able to obtain at constantly decreasing prices a sufficient amount of bonds to meet the requirements of the
sinking-fund for the current fiscal year and carry out the provisions of
law respecting the investment of the surplus revenue. While it was
necessary to pay 108 for 4 J per cent, bonds of 1891 purchased March 5,
1889, with a net premium of 7,97, they were offered and accepted October 31 at 1051, the net premium being 4,99, a decrease in actual premium
of nearly 3 per cent. During the same period, or from April 6 to October 31, 1889, the price of 4 per cent, bonds was reduced from 129 to
127 and the net premium from 28.93 to 26,66, a reduction in actual
premium of over 2i per cent,
SURPLUS REVENUE.
It appears, from the foregoing estimates, that after due provision shall
have been made for meeting the ordinary expenses of the Government,
XXVIII REPORT OI' THE SECRETARY OF THE TREASURYo
including the requirements of the sinking-fund,, there will remain,
under the operation of existing laws, an annual surplus of revenue of
about $44,000,000.
'
An accumulation of money in the Treasury beyond the necessities
of the Government endangers legitimate business, tends to excessive
and wasteful public expenditure, and to encourage extravagance in
private affairs. \
In the presence o^f such con^ditions, it is a manifest duty to wisely
guard against a future needless accumulation with its fruitful train of
evils.
•
;
•
•'
Means of reduction^
If a portion of the surplus revenue can be used, to enlarge our foreign
markets, and thereby advance our commercial and productive interests,
it is the part of wisdom to so apply it. The strengthening of our coast
defenses, and the building up. of our Navy, subjects of national concern, offer further opportunity for wise expenditures that would return
the money directly to the people.
,
'^
But after making provision for such expenditures as may be proper
and reasonable for these purposes, a large annual surplus will still remain under the operation of existing laws. .
' ,
Eeduction of the interest-bearing debt of the Government, by the
purchase of bonds, is the expedient resorted to for returning a part of
. ^ this surplus to the channels of trade, and is the only means now open
to the Secretary of the Treasury for the use of this money. To require from him this measure of responsibility and discretion is of
doubtful wisdom.,
'
A possible successful appeal to this discretion tempts individuals to
rash business undertakings, in the belief that the money in the Treasury will be used to avert threatened disaster. In the absence of such
discretion in the Secretary, the possible use of this money would cease
to enter into the calculations of the business w^orld.
,
It is manifestly wrong to take money from the people for the cancellation of bonds, to the saving of only about 2 per cent of interest,
when it is worth to them, perhaps, three times as much in their business. It is rather through a reduction of customs receipts and internal
taxes, that an unnecessary accumulation of money in the Treasury
should be avoided.
Tobacco tax.
There was received during the last fiscal year, from all sources of
internal revenue, the sum -of $130,881,513.92. This, it is estimated,
would be increased, under existing laws, to $135,000,000 for the current fiscal year.
•
,
'
,
SURPLUS REVENUE.
v
The tax collected on tobacco was as follows:
From cigars, cigarettes, and cheroots.......^
Fromsnuff.
J From manufactures of tobacco...
From special taxes...
......r.
Total
:...?
;
XXIX
'
$12, 677, 987
645, 089
17,076,899
1,466,883
I
60
57^
94
31
31,866,860 42
Whatever may be said of the moral or physical effects and influence
of tobacco, it has come to be regarded as a necessity by: the poor as
well as the rich. It is now the only product of agriculture that is
directly taxed by the Government.
' '
The repeal, of this tax would reduce the surplus about $32,000,000.
Alcohol for use in the arts,o
'
|
The subject of exempting alcohol used in the arts from internalrevenue tax deserves attention. It is estimated upon careful inquiry
that about 6,000,000 gallons of alcohol are annually used in this country in a vast number of chemical and medicinal jDreparations of common and needful use, as well as in many of the important mechanical and industrial arts, from which a tax of $5,400^000 is collected.
Its use for these purposes would doubtless be largely increased were it
not for this tax, which is eiquivalent to about 250 per cent, of its value.
This is a direct and onerous burden upon our industrial interests and
upon the .consumers of the articles produced, for which there now seems
to be no necessity or excuse.
'
As alcohol may be exported without the payment of this tax, a
direct discrimination is thus made in favor of foreign manufacturers,
to the serious detriment of our own industries.
!
.
,
The proposition to remove this tax should commend itself to the advocates of free raw material for use in domestic manufactures, and
should certainly meet with favor from those who demand the free admission of wool, on which there was collected in the last fiscal year
the sum of $5,982,211.76, and the production of which has been stimulated to the notable benefit of our agricultural interests, by a rate of
duty equal to about 34 per cent., while the tax upon alcohol is more
than seven times greater.
* The proposition to exempt alcohol for use in the arts has met with
the objection that it would increase the difficulty of collecting the taxes
Qn other distilled spirits, but the Senate amendment to House bill 9051
of the last Congress seems to provide the necessary safeguards.
In case the" tax should be removed from tobacco, and from alcohol used
in the arts, the reduction thus effected would be about $37,500,000,
leaving a balance from internal revenue of about $97,500,000,
xxx
' REPORT.'OF THE SECRETARY OF THE TREASURY,
,
.
^
•'
••
'
Gustoms revenue,
E-eduction in receipts from custoins presents the only other advisable
means for diminishing the revenue. This can be accomplished :
/
First. By reduction in rates of duty upon those articles which, by
reason of inconsiderate legislation, or changes which have occurred in
the development of our industries, are found to be excessive.
Second. By increase in rates upon articles which have not been successfully produced here, because not adequately protected; the obvious
effect of which increase would be to stimulate domestic production and
diminish importations and revenue. It is plain that such articles
should either be fairly protected or placed upon the free-list.
'
i
.
.
.
•
.
• Third. By transferring to the free list articles which, from climatic
or other causes^ are not and can not be successfully produced here,
also articles which, under existing conditions, we can not economically,
produce in sufficient quantities to meet the needs of our people, or to
serve the purpose, of competition with foreign productions, and articles
the production of which is of inconsiderable importance,
horizontal reduction.
The cases are exceptional under our tariff in which a moderate or
reasonable reduction of rates would result in a decrease of the revenue.
A s a general rule, a reduction in the rates of duty would increase importations in greater proportion than the rates are reduced, and so
increase.rather than diminish receipts. This would be the result of
any plan of horizontaT reduction yet proposed ; thus, a horizontal reduction of 10 or 20 per cent, in rates might result in 20 or 50 per cent,
or even greater increase in the volume of imports. The tendency of
this would be to largely increase the surplus, and, to the extent of the
increased importations, to deprive American workmen of the employment which belongs to them, and correspondingly to reduce the price of
labor. The disastrous effects of such a policy upon the country would
be threefold—
'
'First. It would diminish the demand for American labor and capital
by the amount of labor and capital expended in foreign countries upon
the production of such increased importations.
Second. It would withdraw from active circulation here the money
required to pay the duties on these increased importations, and thus
^ add to the evils of our present surplus.
Third. It would largely increase the adverse balance of trade with
foreign countries, and contract .our circulation by the amount of money
necessarily exported to meet our increased indebtedness ^.brpad.
SURPLUS R E V E N U E — R E V I S I O N
QF T H E T A R I F F ,
. Tariff for revenue only. '
XXXI
,
A tariff for revenue only contemplates such an adjustme^nt of duty, as
will yield the largest amount of revenue at the lowest rates. It means
the largest possible quantity of importations consistent with the amount
of customs revenue required to defray the expenses of the Government.'
If, under a.protective tariff, $300,000,000 of importations would pay
an annual revenue'of $100,000,000, to produce the same amount at half
the rates, under a tariff for revenue only, would require $600,000,000 of
importations. The result of this policy, in the case supposed, would
be to take from American producers their home market for $300,000,000,
of products and transfer it to their foreign competitors. While it.
would thus deprive our workmen of employment, it would also deplete
the <iountry of gold to pay for foreign labor and material, which should
be supplied at home.
Practices of trade affecting tariff.
A tariff based upon the difference in the cost of labor and materials,
in this and foreign countries, will fail of its purpose in times of overproduction and depression in competing countries. Foreign manu-,
facturers are compelled to maintain their extensive establishments in
order to manufacture at the minimum cost, and as this is the only
country that will buy more than is needed for present demand, it becoines, at such tinies, the dumping-ground for all manufacturing Europe.
For a long time past a considerable proportion, at least of articles of
certain lines of importations, has been of this class.' They have been !
sold here below, in fact without regard to, the cost of production, the
manufacturers looking to their own and foreign markets, which they
control, for their profit.
All these conditions and practices of trade should be'carefully considered in framing a tariff either for the purposes of protection 'or
revenue.
REVISION OF THE TARIFF.
;
Whatever differences of opinion there may be with regard to the best
method of disposing of the surplus revenue, and preventing the accumulation of money in the Treasury beyond the proper needs of the Government, and however diverse may be opinions as to the abstract
question of taxation for revenue purposes, customs and internal, there
is general agreement that a revision of the tariff and customs laws is
urgently needed.
»
I believe it to be the dominant sentiment of the country that, in the
adjustment of diities on imports, protection to home industry should b§
XXXII
REPORT OF THE SECRETARY OF THE TREASURY.
a governing consideration. While there is a wide divergence of judgment on this proposition, it can riot well be denied that it is the settled
policy of this Government that such duties shall be so levied as to result
in'the protection of labor, eihployed in domestic industries, from destructive foreign competition.
"
^.
One of the fundamental objects in the levying of duties on imports, declared in the preamble of the first tariff act passed by Congress in 1789,
was the encouragement and protection of manufactures. The doctrine
thus proclaimed has broadened <:,,with our advancing civilization and
growth, and its wisdom has been demonstrated by the marvelous development o£ those industries, protected by the high duties, demanded
by the necessities of the Government incident to civil war.
^ It should, however, be remembered that the prime object in the imposition of these high duties was the raising of revenue, and rates were
adjusted to that end, rather than to the protection and development of
domestic industries. It came about, therefore, that the measure of protection was capricious and unequal, and some industries were greatly
prospered, while others, equally favored by natural resources and conditions, either languished or failed of development.
;
Inequalities.
The tariff act of 1883 was hastily considered and passed. While intended as a protective measure, it was based on former tariffs, and per13etuated many of the inequalities and other defects with which those
acts abounded, and which have not only been directly hurtful to certain
domestic interests, but have afforded opportunities for evasion, and
provoked constant dispute and litigation.
Certain of these inequalities and defects in the present law, arise also
from the changed conditions of trade and manufacture since its enactment.
,
•
'
Appeals and suits.
Uniformity of assessment at the several ports, and often as between
importers of like merchandise at the same ports, has not been secured.
Doubts as to the meaning of many of the separate provisions of the
tariff schedules have led to constant appeals to the Secretary of the
Treasury, which are often stimulated by speculative importers and customs attorneys, who seek to .profit by the payment of the higher rates
of duty, upon the basis of which the merchandise is sold to the consumer, and the chance of obtaining a refund through the action of the
Treasury Department or the courts. Thus domestic producers and
importing inerchants are deprived of a stable basis for their business
REVISION OF T H E T A R I F F .
XXXIII
,calculations, and trade and commerce, as affected by the tariff, is
thereby disturbed and unsettled, t h e r e were 25,349 appeals by importers from the decisions of collectors of customs, chiefly'from the port
of New York, during the last fiscal year, and there are how pending in
the United States circuit court for the southern district of ItTew York
4,497 suits, which relate to more than two hundred and fifty different
articles concerning which the classification is disputed. Of these suits
1,735 were brought during the last fiscal year, and in that time only
653 were, disposed of, showing an increase in the number in the fiscal
year of 1,082, It will be seen that under this state.of things there* is
BO prospect that the courts will be able to dispose of this accumulated
litigation, in which the amount is estimated at not less than $25,000,000. *
As a result of this increasing practice of making protest and appeal,
in all cases where the meaning of the statutes is in any sense obscure,
the public has come to look' rather to the Secretary of the Treasury
than to Congress for relief from real or imaginary hardships attributed
to the tariff. Indeed, the Secretary is constantly importuned to riiake
rulings equivalent to tariff legislation.
All this is subversive of commercial and official morality, is destructive of legitimate trade, and appeals to the judgment of air fairminded men for correction.
Conflicting provisions and ambiguities.
It is therefore urged that in revising the tariff schedules care be
taken to avoid conflicting provisions and ambiguities, which have been
productive of the evils mentioned; also that rates be so adjusted as to
avoid the inequalities of the. existing law so hiy?tful to domestic industries.
;
The law which imposes a duty of 1} cents per pound on lead ore,
and also exempts from duty ores of silver and gold, illustrates these
conflicting provisions. Gold and silver are often coinbined with lead
in ore. Ore of this character is claimed to be commercially silver or
gold ore if the value of either exceeds that of .the lead, and such has
been the decision and ruling of this Department for the past ten years.
It is submitted that the law as to lead ore should provide a dhty upon
the lead contained therein. As the law now stands,' if the silver or
gold is the component of chief value the lead escapes duty. On the
other hand, if the lead is the component of chief value, the gold, or
silver^ is subjected to duty at the rate provided for lead. Thus the
purpose of the law may be defeated in both cases.
•
*See report of the chief of the division of customs, in Appendix.
FI 8 9 - — I I I
XXXIV
REPORT OF THE SECRETARY OF THE TREASURY.
Duty dependent upon use.
-
In many provisions of the present tariff the rate of duty i s made
dependent upon the use to which the article is to be applied. Whether,
for example, 50 per cent., 20 per cent., or 10 per cent, shall be collected^
or whether the article shall be admitted free of duty, is made to deipend
upon the individual opinion of the customs officer, or upon the statement of the importer. This has led to inharmonious action at different
ports, and has caused disputes and litigation. Conspicuous examples
of this character are found in the provisions relating to hat materials,
to animals imported for breeding purposes; fresh fish, for immediate
consumption; soap stocks, paving-tiles, various materials used for th^
manufacture of fertilizers; acids used for medicinal, chemical, or manufacturing, purposes; articles used for dyeing or tanning; glass plates
or disks for use in manufacture of optical instruments; various vegetable substances used for beds and mattresses; vases, retorts, and
apparatus for chemical uses.
"^
Special exemptions.
^
I' feel constrained to invite attention also to numerous provisions
which exempt from duty merchandise otherwise dutiable, when iniported by certain persons, societies, or associations. NTotable in°
stances are found in the exemption of the personal effects and tools
of trade of persons coming from abroad, and of household effects,
without limit as to quantity or value; also, so-called works of art, and
various other manufactured articleSo Such discriminations are harmful, not only to the importing trade, but to established domestic interests.
They are in many cases without justification upon any reasonable
theory, and have led to serious abuses.
Extension of trade.
Furthermore, in the construction of a tariff law in its broader
sense, reference should be had not only to the changed conditions of
our domestic commerce and manufactures since the enactment of previous tariffs, but also to the cultivation- and extension of our trade relations with those countries whose geographical situation and resources
are such as to make intimate commercial intercourse with them particularly desirable.
Undervaluations—systems of duty.
In order, that Congress might have the intelligent opinion of expert
officers charged with the enforcement of the tariff laws at the prin-
REVISION OF T H E T A R I F F .
XXXV
cipal ports, I . caused to be submitted to them, for examination and
criticism, three important tariff bills which were considered by the
last Congress, viz.- House bills 8383 and 9051, and the Senate substi. tute for the latter. The reports of these officers are contained in the
appendix to this report, and are commended to the attention of Congress.
Particular attention is invited to the statements therein, showing the
alarming prevalence of undervaluations. As a remedy for this evil the
substitution of specific- for ad valorem duties, wherever feasible under
our tariff system, is generally advocated. In this I concur; and this
viewas sustained not only by the fact that the comniercial countries
of Europe have discarded the ad valorem and adopted the specific
system, but also by the opinions of a long line of my predecessors;
Under high ad valorem rates pure and simple, or the more objectionable
system of specific rates based on value, not only do discriminations
occur between individual importers at the same port^ always in favor
of the unscrupulous, but different amounts ol duty are collected at
different ports upon merchandise of the same value. The inevitable
result, as experience shows, is, that the honest trader is driven out of
business, and domestic producers are insidiously deprived of the protection which the law intends to give them, and upon the faith of which
their business ventures are based,
:
-Q
'•
The opportunity for undervaluing afforded by this system has been
generally taken advantage of, chiefly by shippers on, foreign account.
The tendency of this has been to concentrate the inlporting trade in
goods subject to the higher ad valorem rates at one great port, thus
depriving other ports of the business of importing merchandise of the
class which they sell Or distribute. This was forcibly stated by Mro
Fairchild, then Acting Secretary of the Treasury, in a communication
dated June 14, 1886, to the chairman of the Committee on Ways and
Means of the House of Eepresentatives, as follows:
During the last year the proportion of the importations for the'whole country which
are free of duty, or which pay purely specific rates, the latter including such articles
of common use as salt, soda, tin-plates, and glass, entered at New York, ranged variously from 34 to 63 per cent. While of articles subject to high ad valorem rates, such
as silks, embroideries, laces, leather gloves, linens, cutlery, ornamental feathers, buttons, trimmings, hats, bonnets, etc., the proportion imported at that port ranged from
76 to 99 per cent., averaging over 85 per cent, of the entire importations of such goods
into the United States. About 98 per cent, of all the silks imported into the country
during the past year were entered at New York, and the average of such importations
at that port for the past six years has been above 96 per cent. Fully 90 per cent, of
these importations represented consignments on foreign account, and were as a rule undervalued.
XXXVI REPORT OF THE SECRETARY OF THE,TREASURYo
Adjustment of tariff to changed conditions:
'
It is obvious that as the conditions of production and trade change,
particular provisions of a tariff law may become inapplicable and even
harmful. While legislative interference should not be so frequent as to
unnecessarily disturb the commercial and industrial interests of the
country, it is suggested that reports at stated periods, by expert officers
specially designated for that purpose, upon the operations of the tariff
laws, and indicating needed changes, would prove valuablOo
CUSTOMS ADMINISTRATION.
The difficulties so embarrassing to the customs officers and the Department, growing out of the infirmities of the tariff schedules, are intensified by the inadequacy and faulty character of the laws relating to
customs administration, which also needlessly and seriously annoy and
hamper our citizens engaged in foreign commerce, and in many
ways operate to neutralize or nullify the purposes of the tariff. These
laws are derived from two hundred and sixty-three acts of Congress passed during a period of ninety years. The act of 1799, the nucleus of the custdrias system, was at the time of its enactment, and has
since^|)een found to be, as has been well stated, ^'a marvel of*clearness,
cqnciseness, and accuracy.'' It was admirably adapted to the conditions
of the period of its passage, and these did not materially change within
the succeeding half century. But since then the course of commerce,
the usages of trade, and the conditions of commercial transactions
generally, have so changed, and the volume of business has so expanded, that many of its provisions are ill-suited to the present time.
The introduction of steam-navigation, its conduct by great companies
with large fleets and regular service, communication by ocean cables,
and other changes in the commercial world wrought by these and
other agencies, render desirable a revision of the statutes governing
customs administration so as to adapt them to existing needs.
It is true that the statutes relating to this subj ect were included in Title
X X X I Y of the Eevised Statutes of 1873, but this was rather a codification than a revision, as the commissioners of that revision were debarred
from materially changing the phraseology of the laws, or introducing new
matter. By the segregation under one title of sections derived from so
many distinct laws, the revisers were unavoidably led into many errors
respecting the relative arrangement of these sections, so that the imperfect character of the existing statutes is in some cases magnified by
this dislocation of their parts. Since the enactment of the Eevised Stat-
CUSTOMS ADMINISTRATION.
,
XXXVII
utes, numerous amendments and much new and fragmentary legislation
have added still further to the difficulties of construction.
No matter upon what lines the tariff schedules may be revised, or
whether revised at all, it is hoped that Congress will, recognize the
urgent need for such a revision of these statutes as will remedy the
evils mentioned. The reports of the customs officers, contained in the
appendix to this report, afford much information concerning these
difficulties and indicate remedial legislation thought to be advisable.
Invoices—consular authentication. .
.
There is urgent need for radical reform in the system 6f appraisements.
Under ,the present law it is practically impossible to secure uniform and
just valuations. The provisions relating to the form of invoices and their
consular authentication should be amended so as tq give appraising
officers in all cases more definite information of the ^ctual transaction
which the invoice is claimed to represent than is at ^present required.
The invoice should contain an accurate description of the goods; it
should be made out in the currency of the country of export, or the
currency actually paid; and where goods are obtained otherwise than,
by purchase, the declaration should state that the invoice represents the
actual market value of the merchandise in the principal markets of the
country whence exported, instead of the time and place when and where
procured or manufactured, as now required by the statute; so that the
declaration may conform to the legal basis of appraisement.
Penalties^for undervaluation should be made applicable to informal
or pro forma invoices, as well as to those authenticated by consular
officers.
. Coverings, packing charges, etc.
It is necessary, in order to ena;ble appraising officers to make uniform
and satisfactory appraisements, that they be relieved from the embarrassments imposed upon them by the law which exempts the coverings,
charges, c-tc, from duty, and which has been productive of constant
trouble, fraud, and litigation. In very many cases merchandise has no
market value apart from its coverings and incidental packing, and the
arbitrary rule that a part of this value shall be deducted in the assessment of duty is illogical, and, in fact, requires the appraising officers
to do an impossible thing—to work an incongruity.
. <
Eeappraisements.
The system of appointing merchants to act as members of reappraising boards, although it may have worked satisfactorily in former years
xxxviii
REPORT OF THE SECRETARY OF THE TREASURYo
when the volume of importations was comparatively small, and importers owned the goods imported, and when disputes as to value were
rare, has become, under present conditions, not only ineffective but
productive of serious abuses, scandal, and contention, and is injurious
alike to the revenue and legitimate trade. The remedy generally suggested, and which appears to have met the approval of reputable
merchants throughout the country, is an increase in the number and
an enlargement of the functions of general appraisers so as to devolve
upon those offi-cers the sole duty of hearing and disposing of appeals
from original appraisements. I am of the opinion that such legislation
is imperatively needed.
Punishment of fraudSo
•
There is now no adequate means afforded by the laws for the punishment of fraud in the entry of merchandise. This is attested by the
reports of the Secretaries of the Treasury during the past ten years.
I concur, in their repeated recommendations that the statutes shouldbe so amende^d as to enable the Government to obtain the forfeiture
of merchandise, or its value, upon proof of false entry, placing upon
the claimant the burden of proof to show innocence of fraud in the
transaction. The Government is now required to prove affirmatively
not only that the goods were falsely entered, but that such entry was
made with fraudulent intent, and to obtain such proof is, as a rule,
impossible.
Damage alloivanceSo
The law under which rebate of duties is allowed on imported merchandise for damage on the voyage of importation, was passed in 1799,
when water transportation was confined to sailing-vessels. Owing to
long voyages and incidental exposure to weather and water, merchandise
was liable to damage and deterioration, from which the owner could
not then, as now, protect himself by marine insurance.
Within recent j^eai'S almost all merchandise subject to damage is
transported in steamers making quick transit, and there is but little
liability to actual damage; so that the causes which led to the enactment of the original law have largely disappeared. The law has now
become a convenient means for the perpetration of frauds of the most
scandalous character, is demoralizing to customs officials, and operates
so uniformly arid largely to the advantage of the unscrupulous, that its
repeal is generally demanded by honest merchants throughout the
country.
CUSTOMS ADMINISTRATION,
XXXIX
Draiobdcks.
The manifest purpose of the law enacted in 1861, which authorizes
the payment of a drawback on the exportation of articles manufactured from imported material on which duties have been paid, was to
foster home manufactures. In practice, however, it has been found in
some cases to operate to the disadvantage of domestic production. It
^often occurs that the materials, thus relieved from duty, are such as are
the completed products of our own factories.
i
Was not the law intended to cover crude materials only/? Congress
should define more clearly the character of the materials to be exempted, as well as the extent to which such materials shall be advanced to constitute a manufacture. Applications are frequently
made, and in many cases have been allowed for drawbacks where the
essential work of manufacture has been done abroad, and only an insignificant amount of labor expended upon the article here in order to
change its form. This results practically in a discrimination in favor
of foreign labor.
The administration of the drawback laws has been attended with
much difficulty, and it has been found impossible to guard against
the allowance of fraudulent claims. In many cases the chief beneficiaries of these laws are foreign manufacturers, and custom-house
brokers,
Befund of duties—suits.
Allusion has already been made to the great number of protests and
appeals, and also to the continued accumulation of suits in customs
.. cases, and to the impracticability of a satisfactory disposition of them
with the legal machinery^at present provided. The existing system
of refunding duties, exacted in excess, results in intolerable delay and
loss to those who have legitimate claims, and, as before shown, fosters
raids on the Treasury. This system also works to the serious disadvantage of the Government in various ways, among which may be
cited—
1. In the time which usually elapses between the original classification
of, the merchandise alleged by the importer to be illegal, the proofs
upon which the action was taken by the classifying officers is often
lost or has passed beyond control of the Government, by change of officers, death of witnesses, and the like,
2. When judgment goes against the Government: it carries large
amounts of interest and costs, to be paid in addition to the duties
erroneously exacted.
XL
REPORT OF THE SECRETARY OF THE TREASURY.
3. The inducements to private gain in these cases are so great that the
persons interested employ all possible means to success. They are
aided by sagacious attorneys who generally make this business a
specialty, and who are stimulated by large fees, usually one-half of the
amount of the judgment obtained. In instances, improper and unx3rofessional methods have been resorted to to control juries, and secure the
active or passive aid of the very officers relied upon by the Government to sustain its interests.
4. However earnest and vigilant the district attorney may be he
is often overmatched by the opposing counsel and the means at their
command for advancing their cases. Then, too, the interests of the
Government obviously suffer from the frequent changes in the office of
district attorney during the pendency of suits.
It is plain to be seen that suits thus inspired and managed are liable
to result in a miscarriage of justice, and that judgments thus obtained
are not a safe basis for the construction of the tariff laws.
Customs tribunal.
There is certainly imperative need for a remedy for this condition of
things. Some system should,be devised whereby these questions could
be finally settled as they arise, and, in as many cases as possible, before
the importer has made sale of his goods. The establishment of a
special tribunal for the exclusive disposition of appeals in customs
cases, would not only relieve the Department and the courts, but would
prove of incalculable benefit to honest merchants and manufacturers^.
as well as to the public at large.
Oaths.
Complaint is justly made by importers in the matter of custom-house
oaths. They are compelled to take these'oaths before the collector at
much personal inconvenience. A declaration, sanctioned by penalties,
attested by any officer duly a^thorized to administer oaths, would
afford relief, and such change is recommended.
Officers and employes of the revenue service are required to verify
their accounts for official services under oath in the manner provided
by sections 1790 and 2693, Eevised Statutes. It is held by the Attorney-General that the fee for this oath is not a charge against the Government, but must be paid by the individual. There are more than
six thousand such employes, who are compelled to pay this fee once
each month or pfterier. It is suggested that these statutes be repealed,
and that their essential requirements be embodied in the oath taken OB
original appointment to office.
CUSTOMS ADMINISTRATION.
XLI
Bonds.
i
:
,
^
\
.
,
'
'
. It is believed that the bond required on entry of merchandise for
warehouse may safely be dispensed with. These bonds involve great
inconvenience to merchants and large expense, with no corresponding
benefit. The Government is protected by actual possession of the
merchandise, and may be further protected by the bond of the warehouseman, and such further legislation as may be. necessary to secuie
payment of the duties.
\
|
The bond required by section 2899 of the Eevised Statutes for the
return of delivered packages fails of full protection to the revenue. Its
conditions should be so enlarged as to' secure the paynient of any balance of duty found due on liquidation, or other damages sustained by
the Government.
•
'
Fees.
;'
In the organization of the customs service, in 1799, it was contemplated that its expense should be principally defrayed from fees, a
schedule of which was then fixed. These collections long since proved
inadequate to the needs of the service, and appropriations for its support have been made by Congress.
These fees are now. an insignificant factor in considering the expense
of collecting the revenue—the total amount collected during the fiscal
year ending June 30, 1888, was only $454,590.75.
\
They are gathered from various sources for various services, and in
amounts ranging from 10 cents to several dollars, the major portion
being in sums of 50 cents and less. These collections impose a labor OD
the customs officers, and constitute an annoyance to individuals m
excess of any public benefit.
Fees for like services vary by statute in different sections of the country, and the public are often led to believe that they are petty exactions^
resulting from the greed of the officer who demands them for his personal
benefit. As matter of fact there is seldom any found.ation for such belief. But in some cases, when the total of fees collected fail to carry
the collector's compensation to the maximum, it is known that the
collector has resorted to strained and unusual construction of the law
and exacted illegal and excessive fees to increase his income. These
exceptional demands are made possible by the existence of the feebill, and the persons on whom they are made are constrained to pay
them, rather than risk delays and hostile acts that would work them
greater loss. No satisfactory reason appears for the continuance of the
system.
XLII
REPORT OF THE SECRETARY OF THE TREASURY.
It does not: comport with the dignity of the Government to exact
a 10-cent fee for an official service. It has outgrown the necessity
of sitting at the doors of its custom-houses and collecting ^admission
fees from those ft compels to come there to do business.
^
Compensation of collectors.
In the interest of a better service a change is demanded in the matter
of the compensation of collectors, who should be paid fixed salaries
adjusted to the duties and responsibilities of their respective offices.
Some of these officers are now paid fixed salaries in full of all services,
others are compensated by salaries supplemented by certain fees, commissions, and allowance's. An additional allowance is made for storage in the sum of $2,000, if so much be paid at the port. This
allowance, under the decisions of the courts and of the accounting
officers, is yorked out in a way not readily comprehended, and opens
the door to questionable, if not fraudulent methods. No equivalent
service is rendered for it. The maximum compensation of collectors
on the northern frontier, paid in this way, is $4,500, while collectors
on the sea-board and surveyors at interior ports may thus receive
$5,000. But certain collectors on the northern, northeastern, and northwestern frontier have received in addition large sums from certain rail-.
road companies from the sale of blanks, under the provision of section
2648, Eevised Statutes. In some instances the annual income of the collector from the sale of these blanks has exceeded his official salary by
$10,000 or $15,000. It has been an open secret, for years, that the sale
of blanks by the collectors to railroad companies rather than the official salary has been the pecuniary significance of certain offices. It
may be that thus far the Government has been fortunate in the selection of these officers, and notwithstanding the financial obligation to
the railroad companies, they have held an even hand between them and
the Government. But it requires only a statement of the case to disclose a temptation and motive, in the case of two masters, to serve the
one paying the most money. The conditions are vicious and can be
supported by no honest or administrative argument.
It is earnestly recommended that collectors be compensated by fixed
salaries, and that they shall not, directly or indirectly, because of their
office, receive any other pecuniary fee or compensation whatever.
^ Consolidation of customs districts and readjustment of salaries.
The consolidation of customs collection districts has been the subject,
of frequent recommendation to Congress. Legislation in this regard is
CUSTOMS ADMINISTRATION.
XLIII
again recommended in the interest of an economical and efficient
service. In the early organization of collection districts regard was
had to the then existing conditions of our commerce and foreign
trade confined to the sea-ports. The laws for their organization made
them to comprise i^all the waters and shores,'^ or ^^ all the waters,,
shores, and rivers connected therewith.'' No interior lines were described, nor was it then found necessary to divide the lentire country
into collection districts. Foreign merchandise arrived by sailing-vessels and was entered at various sea-ports of first arrival. But the
changed conditions wrought by steam carriage and other agencies
have destroyed the commercial importance of many of the old-time
sea-ports, and carried trade inland, building up great commercial
centers removed from the former lines of water transportation. It
has resulted that a considerable number of collection districts exist
BOW only in name and in their demands on the Governnient for money
to defray the expense of needless equipment. In the interest of good
administration they should be abolished, and their territory included
in other districts, care being taken to provide for requisite preventive
service and the convenience of the merchant marine. [
Comparatively recent legislation has authorized the carriage of foreign
dutiable merchandise inland for the payment of duty, and interior ports
are rivaling those of the sea-coast in the revenue they return to the
Treasury. Some of these are ports of entry in collection districts that
have well-defined boundaries, others are mere ports of delivery, with no
jurisdiction beyond municipal limits. It results that while the entire
country is open to trade, and dutiable goods are transported to all parts
of it, certain portions are not included i n any well-defined customs district. It is uncertain what collector, if any, may exercise jurisdiction
in case of fraud committed therein on the customs revenue. The useless collection districts should be abolished, and new ones established
wherever demanded in the interest of a safe and economical service. It
is deemed of vital importance that there be an early reconstruction of
collection districts, with well-defined boundaries, to include the entire
territory of the United States.
i,
In doing this, unnecessary offices should be abolished, the salaries
in some cases reduced, and, at certain ports of growing importance,
new offices should be established to meet the needs of the service.
The salaries^ of the appraisers at the principal ports, noV inadequate,
should be increased so as to be made comniensurate with the important
and responsible duties devolving upon them.
!
XLIV
REPORT OF THE SECRETARY. OF THE TREASURY.
^
Eevision of customs laivs.
Many of the reformatory changes in the customs laws above suggested
have been embodied in one form or another in bills introduced in the
last Congress. These were doubtless the result of careful investigation
and consideration by the appropriate committees, and their general.
features are understood to have had the approval of my immediate predecessor. It is not improbable that these ^ or similar measures will be
again introduced, with better promise of enactment. Believing the
changes thus proposed would greatly benefit customs administration, I
urgently recommend them to the early and favorable consideration of
Congress.
While recommending this legislation, I earnestly invite attention to
the necessity for a complete codification and revision of the customs
laws, to include such modifications'and new provisions as practice and
experience have demonstrated are required for the efficiency of the
system.
Materials for such a codification and revision have been collected and
partially formulated, under my direction, by conipetent officers of this
Department. These materials are intended for, and will be at the disposal of, Congress.
Conferences of local appraisers.
Quarterly conferences of local appraisers, under special appropriation for that purpose, have been held regularly at New York during
the year.
'
'
The anticipated benefits of these conferences have been realized in
more uniform appraisements and classification at the several ports, and
generally in more intelligent and satisfactory administration of this
important branch of the customs service.
These officers, at their conferences, have also materially aided the
Department by their advice upon important questions of classification,
which from time to time have been submitted to them for their opinion.
It is recommended that the appropriation for these conferences be
continued.
Expenses of collecting the revenue from customs.
Should the fund for the expenses of collecting the revenue from customs continue to be derived from a permanent appropriation, with
the addition of the contingent receipts from certain sources now available, it should be materially increased to meet the changed conditions
since it was last fixed by enactment. •
CUSTOMS ADMINISTRATION—^FOREIGN
COMMERCE.
XLV
Serious embarrassments have occurred several times through deficiency
in this appropriation, which has proved insufficient to defray the necessary expenses of collection, the average annual cost of which exceeds
$7,000,000.
:,
The fund at disposal is derived from the permanent annual appropriation of $5,500,000 made by the act of March 3,i.l87l, '^andin
addition thereto such sums as may be received from fines, penalties,
and forfeitures connected with the customs and from fees paid into
the Treasury by customs officers, and from storage, cartage, drayage,
labor, and services," which, on the date of the passage of the act,
amounted to nearly $2,000,000. '
\
Since that time the annual receipts from these sources have diminished
about $1,000,000, in consequence of legislation affecting fines, penalties,
and forfeitures, and the abolition of many of the official ;fees.
Since 1871 the volume of customs business has largely increased.
The entire system of transportation of goods without appraisement at
the ports of first arrival has been established, involving additional expense through the creation of new ports.
;
Three times during this period there has been a deficiency in the
means available for the expenses of collecting the customs, causing
much embarrassment in the conduct of the service, and hardship to
employes, who were obliged to wait for their pay until appropriations
for deficiencies were made.
There has also J)een a lack of means to increase the efficiency of the
service, and to detect and prevent ff-auds upon the revenue.
The maintenance of this important branch of the Government should
not be dependent upon contingent receipts, always, fluctuating in
amount and impossible of accurate estimate. It is suggested that all
official .receipts under the statute relative to the collection of duties,
and amounting to about $1,000,000 per annum, be covered into the
Treasury as a part of the general receipts, and^ that the, permanent annual appropriation for the expenses of collecting the revenue from customs be increased to $7,500,000.
i
FOREIGN COMMERCE,
The total value of our imports and exports of merchandise and specie
during the last fiscal year was $1,613,137,633, an incjrease over the
preceding year of $87,473,843, and was greater than for any year
since 1881.
i
XLVI
REPORT OF THE SECRETARY OF THE TREASURY.
The value of the imports and exports of merchandise and specie
during the last three fiscal years has been as follows i
Merchandise.
ExportsDomestic..
Total
Imports
•
1887.
1888.
1889.
$703,022,923
13,160,288
$683,862,104
12,092,403
$730,282,609
12,118,766
716,183,211
692,319,768
695,954,507
723,957,114
742,401,375
745,131,652
23,863,443
S x c e s s of e x p o r t s . . .
C x c e s s of i m p o r t s
28,002,607
,
2,730,277
Specie.
1887.
ExportsGold
' S i l v e r ...
Total
Imports—
Gold
Silver
$9,701,187
26,296,504
."
:
*
Total
E x c e s s of e x p o r t s
E x c e s s of i m p o r t s
'.
....
1888.
$18,376,134
28,037,949
1889.
$59,952,285
36,689,248
35,997,691
46,414,183
96,641,533
42,910,601
17,260,191
43,934,317
15,403,669
10,284,858
18,678,215
60,170,792
59,337,986
28,963,073
67,678,460
24,173,101
12,923,803
The exports of gold, exclusive of ores, during the last fiscal year were
$59,952,285,' the largest since 1875 ; the imports were $10,284,858. This
excess of exports over imports of gold occurred mainly in May and
June last, amounting during those months to $30,000,000, This excess
was largely due to the increase of foreign travel on' the part of our
people and the consequent increased demand for foreign exchange,
FxportSo
The total value of exports of domestic merchandise was $730,282,609
for the fiscal year 1889, an increase of $46,420,505 over the preceding
year, and was greater than that of any year except 1880, 1881, 1882,
and 1883.
The following articles of domestic merchandise exported have ma°
terially increased or decreased during the fiscal year :
Increase.
Corn.
:
Cotton, unmanufa ctured
Provisions.".
Animals
Wood and manufactures of.....
....°...
,
r
$19,626,327
14, 758, 510
11,064,364
5,489,715
3, S49, 362
FOREIGN
COMMERCE.
XL VII
"^
.
Increase—Continued.
Mtaeral oils, refined...
Iron and steel, and manufactures of
Copper ore
.[
Seeds
,
Fish
'.
Hops.........
:
,
Fruits and nuts
Leather, and manufactures of
\.
.....L
1.
L
;.
J.
J.
Decrease.
;
flour
Wheat
Wheat
Tobacco, unmanufactured
Cotton, manufactures of
. Copper ingots, bars, etc
Sugar, refined..'
$3,570,144
3,393,043
2,453,571
2,357,814
1,791,305
1,620,772
1,561,376
1,164,295
.
\
...,. $14,588,767
.'.
9,481,225
....!.
3,035,016
j. 2,800, 545
1,553,830
.i.
1,114,552
-.•,
There was an increase in the value of domestic expp'rts, as follows i
To
To
. To
To
To
. To
The United Kingdom;..
Germany
France
British North American Provinces
South America
,
West Indies.
^
^
j . $21,751,341
• 10,947,431
....'.
7,326,685
[
5, 374, 623
;.
5,045,180
;.
2,972,889
And a decrease in the value of domestic exports, as follows: ,
To Russia in Europe
To Spain
'
To Belgium
ToChina..^
!
L $2,950,947
;...:....!. 2,377,845
\.. 2,032,799
:.....
:
...^....,
j , . 1,790,462
The imports during the last fiscal year was the largest in the history
of our commerce, amounting to $745,131,652, an incre^ise of $21,174,538
over the fiscal year 1888.
|
The value of the principal articles of domestic ex|ports during the
three years ending June 30, 1889, was as follows: ;
Articles.
Animals
BreadstufFs
Coal
^...
Copper, and manufactures of.....
Cotton, and manufactures of
Furs and fur-skins
Iron and steel, and manufactures of
Leather, and manufactures of
Oil-cake and oil-cake meal
Oil, mineral
Provisions:
Meat products
. Dairy products '.
Sugar....'
Tobacco, and manufactures of
Wood, and manufactures of
Total.
Value of all domestic exports
Per cent, of enumerated articles to total
1887.
$10,598,362
165,768,662
4,526,325
3,727,447
221,151,399
4,807,277
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
$18,374,805
123,876,661
6,690,479
2,348,954
247,987,914
5,034,435
21,156,077
10,747,706
6,927,912
49,913,677
82,945,994
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
93,403,418
10,719,026
1,076,410
22,609,668
26,910,672
644,225,211
615,633,578
647,777,814
703,022,923
91.6
683,862,104
'
90.2
730,282,609
88.7
XLVIII REPORT OF THE SECRETARY OF THE TREASURY.
The value of domestic exports during the two years ending June
30, 1889, classified by groups according to character of production, was
as follows:
1888.
Values.
P r o d u c t s of a g r i c u l t u r e
P r o d u c t s of m a n u f a c t u r e
P r o d u c t s of m i n i n g ( i n c l u d i n g m i n e r a l oils)
P r o d u c t s of t h e f o r e s t
P r o d u c t s of t h e fisheries
o t h e r products....
Total
P e r cent.
Values.
P e r cent.
$500,840,086
130,300,087
17,993,895
23,991,092
5,518,552
5,218,392
73.23
19.05
2.63
3.51
.82
.76
$532,141,490
138,675,507
19,947,518
26,997,127
7,106,388
5,414,579
72.87
18.99
2.73
3.70
.97
.74
683,862,104
100.00
730,282,609
100.00
Imports.
The total value of the imports for the fiscal year 1889 was
$745,131,652, an increase of $21,174,538 over the. preceding year, of
which the sum of $12,415,463 represents the increase in the value of
free merchandise, and $8,759,075 the increase in the value of dutiable
merchandise.
The following classes of importations have materially increased or
decreased in value during the fiscal year :
Increase.
«
Free of d u t y :
Coffee
..•..;
Ore,, silver-bearing
' Sugar, brown, (from Hawaiian Islands)
. Goat skins
..^.
Dutiable:
Sugar
i..
Wool, manufactures of.
,.
•
Hemp, and substitutes for, including sisal grass, etc
Seeds, not medicinal, not elsewhere specified.....
Tin plates, terne plates, or taggers tin...'.
Wool, raw
,
..I...
Flax, hemp, jute, etc., manufactures of
Silk, manufactures of
,
^
Coal, bituminous
Decrease.
Free of d u t y :
India rubber and gutta-percha, crude
Articles, the growth, etc., of the United States brought back
Tin, bars, blocks, etc
:
Dutiable:
Vegetables.....
Bars, railway, of iron or steel
$14,217,252
1,836,156
1,818,470
1, 299, 061
^
12,480,295
4, 845, 549
3,178, 351
2, 325,199
2,243, 309
2,087,298
1,963,382
1,771,767
1,082,504
,.. | 3 , 680,131
2, 603, 809
1,744,067
5,095,625
2, 642, 997
FOREIGN
COMMERCE.
XLIX
Decrease—Continued.
;
^Dutiable:
'
Pig-iron
^....
' Hats, bonnets, and hoods, and materials for
Cotton, manufactures of/.
..i..
Ingots, blooms, etc., of steel
Fruits, including nuts..r
Scrap—iron and steel, fit only to be remanufactured
Wire rods....
,
. • ;•
j
,i..... $2,182,424,
i
2,138,476
i
2, 111, 857
...1
1,982,257
'.
1..,.. 1,919,301
1..... 1, 667,813 '
'
.:
1,148,086
There was an increase in the value of our imports as follows:
From
From
From
From
Brazil
West Indies
Mexico
o..
Germany
$6,693,570
6,381,667
i , 923, 712
3,320,711
And. a decrease in the value of our imports as follows: \
From
From
From
From
Japan...
France
Netherlands
'.
Austria-Hungary
$11, 933, 584
1,798,648
1,405,531
, 1,041,231
Imports entered for consumption.
.
•
i
1
The value of imported merchandise entered for consumption in the
United States, and the duty collected thereon, during the last five fiscal years, has been as follows:
:V
Value of merchandise.
Year ending J u n e 30—
Free of duty.
$192,912,234
211,530,759
233,093,659,
244,104,852
256,574,630
1885
1886
1887
1888
1889
Dutiable.
$386,667,820
413,778,055
450,325,322
468,143,774
484,856,768
Average rate collected on—
Duty
collected.
1 .-
Dutiable.
. 1 •
$177,319,550
188,379,397"
212,032,424
213,509,802
218,701,774
Per cent.
45.86
45.55
47.10
45.63
• 45.13
Free and
dutiable.
Per cent.
30 59
30 13
3102
29 99
(29 50
The principal changes in duties collected were an inciiease on sugar
and molasses, wool and manufactures of wool, manufactures of silk,
manufactures of flax, hemp, and jute, and tobacco, and a decrease on
manufactures of iron and steel and manufactures of cottoho
FI 8 9 — I V
•
' I'
y . •
y ,
REPORT OF THE SECRETARY OF THE TREASURY,
The following t'able shows the value of the principal articles of imported merchandise entered for consumption during the two years
ending June 30, 1889: ^
- ;
Free of duty.
Articles.
1888.
Values.
Values.
509,522 29 '$74,723,308 73
26,615,446 11
679,931 59
25,137,511 30
972,616 58
19,333,229 00
932,337 00
473,919 38
12.643,987 91
077,262 00
12; 387,427 00
7,026,047 00
,758,562 00
238,647 00
6,841,740 00
5,949,896 57
774,847 97
5,927,099 46
,462,255 88
4,437,782 03
:,140,"708 72
3,286,660 55
;, 336,621 75
2,988,471 39
344,069 06
2,726,343 45
989,496 23
2,431,526 00.
129,938 00
2,419,004 37
312,476 56
2,143,208 00,
i; 252,031 00
2,077,731 87
952,305 37
1,741,305 07
029,783 87
1,629,137 75
003,829 00
1,573,983 73
385,514 42
902,047 00
;030,695 00
31,631,736 17
317,481 79
Coffee
Chemicals, drugs, dyes, a n d medicines
Hides a n d skins, other t h a n fur skins
Silks unmanufactured, cocoons, eggs, etc
Teal
India-rubber a n d gutta-percha
Tin bars, blocks, or pigs, grain or granulated....
Ores (emery, gold, a n d silver")...,'.......!
Fruits,.including nuts.....
Paper stock, crude
Wood, unmanufactured
,.
Animals
;
\
Spices, unground
Household effects, etc., of immigrants
Hair
Eggs.......
,
Cocoa, or cocao, crude, leaves a n d shells of.......
F u r s and fur skins, undressed....:
Oils, fixed or expressed a n d volatile o r essential
Fertilizers
Fish
Cork wood or cork b a r k , unmanufactured
All other free articles
Total free of duty
;
256,574,630 46
244,104,852 46
The following are the principal articles of imported merchandise
from which the customs revenue was derived during the two years
ending June 30, 1889:
'
'
Dutiable,
1889.
1888.
V
Articles.
Sugar, molasses, etc
W o o l a n d m a n u f a c t u r e s of—
Wool, raw...J
M a n u f a c t u r e s of.
Total..
I r o n a n d steel a n d m a n u f a c t u r e s
ofIron ore a n d pig iron
M a n u f a c t u r e s of.
Total
S i l k , m a n u f a c t u r e s of.
F l a x , h e m p , j u t e , etc., a n d m a n u f a c t u r e s of—
Raw
M a n u f a c t u r e s of.
/.
Total
T o b a c c o a n d m a n u f a c t u r e s of
Cotton manufactures
". .
D u t y collected.
Value.
D u t y collected.
Value.
$68,973,214 36
$52,007,879 89
$83,419,276 89
14,062; 100 10
47,158,048 16
4,729,486 50
32,213,120 74
17,432,758 71 '
52,681,482 56
5,982,21176
35,373,627 05
61,220,148 26
36,942,607 24
70,114,24127
41,355,838 81
6,869,228 18
44,210,74153
2,882,886 34
18,400,946 11
4,395,452 07
39,114^681 59
1,700,427 51
15,208,912 64
51,079,969 71
21,283,832 45
43,510,133 66
16,909,340 15
32,942,629 03
r
16,351,685 48
34,956,728 77
17,342,57154
16,597,150 00
23,015,588 10
2,388,002 33
7,914,092 99
18,467,822 30
25,955,222 78
2,482,746 30
8,926,802 12
39,612,738 10
10,302,095 32
" 44,423,045 08
11,409,548 42
12,314,428 66
28,706,702 67
9,734,987 35
11,491,897 37
13,733,912 60
27,105,519 85
11,194,486.68
10,841,969 54
$55,995,137 10
FOREIGN
COMMERCE—NAVIGATION.
LI
Dutiable—Continued.
1
1888.
"•
:
1889.
.
Articles.
Value.
Liquors—malt,
spirituous,
wines—
M a l t l i a u o r s . ...
S p i r i t s distilled........
Wines
Total
D u t y collected.
Value.
D u t y collected.
and
•.
$1,353,889 50
1,972,287 27
7,310,190 09
$666,666 39
2,981,772 22
4,014,805 58
$1,322i 258 43
1,902,879 68
7,713,^177
$663,337 08
2,943,248 08
4,179,814 71
10,636.366 86
7,663,244 19
10,938,789 88
7,786,399 87
12,814,525
7,721,453
15,106,551
6,262,337
11,671,497
7,237,822
4,622,441
4,799,251
4,477^535
3,568,276
3,479,248
3,022,742
13,186,289
7,750,577
12,902,825
6,473,357
11,202,906
6,659,966
31
12
39
73
85
58
5,017,033 42
4,526,58152
4,007,942 75
3,694; 401 94
3,417,682 58
2,781,010 12
19,845 05
9,748,799 11
' 3 914 98
1,772,696 00
Chemicals, drugs, dyes, a n d mediFruits, including nuts
Earthen, stone, a n d china w a r e
L e a t h e r a n d m a n u f a c t u r e s of.
F a n c y articles
W o o d a n d m a n u f a c t u r e s of—
Unmanufactured
M a n u f a c t u r e s of.
Total
J e w e l r y a n d precious stones
Breadstuffs
F u r s a n d m a n u f a c t u r e s of
Hats, bonnets, and hoods, and mat e r i a l s for...
All o t h e r articles
Total
.
.
85
31
08
59
21
46
94
52
21
56
89
22
18,188 39
9,363,092 22
3,426 39
1,681,633 78
9,381,280 61
1,685,060 17
9,768,644 16
1,776,610 98
11,032,310 74
8,215,337 07
4,811,412 44
1,182,334 34
1,115,811 23
971,195 86
11,389,179 8 1 '
7,858,962 23
5,224,481 48
1,232,350 69
1,161,026 89
1,054,802 18
5,748,751 83
4,661,849 06
57,992,447 08
1,241,915 45
932,369 81
16,633,389 08
4,247,000 46
3,917,031 84
56,073,896 94
942,731 40
783,406 37
15,470,900 81
468,143,773 98
208,509,811 57
484,856,767 90
218,701,773 76
NAVIGATIONo
I
The Bureau of Navigation reports the entire tonnage of the United
States to be as follows:
I
1
!
1889.
D o c u m e n t e d vessels. .
1 No.
Registered
E n r o l l e d a n d licensed....,
Total
Tons?
! 1,681
' 21,942
1,021,594.84
3,285,880.40
t 23,623
4,307,475.24
'^Eegistered'' vessels only can engage in foreign trade, but they may
also carry on coasting trade. Our total foreign tonnage, not including
those engaged in the whale fisheries, is 999,618, of which 190,19(5 tons
are steam, and 809,422 tons sailing vessels. ^^Enrolled' and licensed''
vessels may carry on coasting trade, including trade with Canada, on
the lakes. The coasting trade includes trade along the sea-coast, and
on the navigable rivers and lakes of the United States. ,
Of our total tonnage, 1,765,551 tons are steam, and 2,641,924 tons are
other than steam,
.
i
REPORT OF THE SECRETARY OF THE TREASURY.
LII
The registered tonnage of the United States has increased 6,032 tons
in the last two years, while the enrolled and licensed tonnage has in
the same period increased 195,598 tons.
Our sailing tonnage has decreased 25,172 tons, and our steam tonnage
has increased 117,482 tons during the last year.
Our domestic tonnage is thirteen times greater than our registered
in number of vessels, and three times greater in tonnage.
The vessels built during the last fiscal year were as follows:
1889.
Class.
No.
Sailins? v e s s e l s
S t e a m vessels
Barges
\
T o t a l ....2
Tons.
489
440
88
60
50,569.77
159,318.31
9,452.61
11,793 64
1,077
231,134.33
The following table shows the tonnage built, apportioned in respect
to the several grand divisions of the country:
1886.
G r a n d divisions.
A t l a n t i c a n d G u l f coasts..
Pacific coast
Northern lakes
Total
1887.
1888.
1889.
No.
496
58
85
76
Tons.
58,544.00
5,913.92
20,400.54
10,594.93
No.
540
73
152
79
Tons.
73,921.17
9,139.61
56,488.32
10,900.93
No.
604
104
222
84
Ton^.
83,168.43
21,956.43
101,102.87
11,859.15
No.
657
112
225
83
Tons.
93,912.24
17,939.43
107,080.30
12,202.36
715
95,453.39
844
150,450.03
1,014
218,086.88
1,077
231 134 33
The tonnage of iron vessels built in 1889 was 53,513 tons. During
the last fiscal year there were built at the lake ports 14 iron vessels, with
a tonnage of 29,415 tons, making the documented iron tonnage on the
lakes 96,774 tons. The tonnage on the Northern lakes June 30, 1889,
was 972,271 tons, numbering 3,412 vessels. On the Western rivers, for
the year ending June 30,1889, the tonnage was 299,427.47 tons, and on
the Pacific coast, the same date, it was 436,272.72 tons.
' The following table shows the rapid encroachments of foreign vessels
uponpur foreign carrying trade during the last thirty-two years.
Liii
^AVIGAT;ONO'
Values of the imports and exports of merchandise of the United States Carried, respectively^
in cars and other land vehicles, in American vessels, and in foreign vessels, during each
fiscal^year from 1857^0 1889, inclusive^ with the percentage carried jn American vessels
{coin and bullion included from 1857 fo 1879, inclusive, as method of transportation can
not be stated).
' \
• Imports a n d exports—
Percentage
Y e p r e n d i n g J u n e 30—
1857
....:
1858
1859
I860 . ' .
1861
1862
1863
1864
1865.......:...
,1866
i
1867
1868...
1869
1870
1871
1872.
1873
1874
1875
1876
1877...
1878...
1879
1880
1881
1882
1883
1884
1885
;
1886
1887
1888
*
1889
l,.i
I n cars a n d
other
l a n d vehicles.
In American
vessels.
$510,331,027
447,191,304
465,741,381
507,247,757
381,516,788
1
217,695,418
241,872,471
184,061,486
167,402,872
325,711,861
297,834,904
29:/, 981,573
289,956,772
352,969,401
353^664,172
$22,985,510
. 345,331,101
27;650,770
346,306,592
27,869,978
,350,451,994
23,022,540
314,257,792
20,388,235
311,076,171
18,473,154
316,660,281
17,464,810
313,050,906
20,477,364
272,015,692
19,423,685
258,346,577
20,981,393
250,586,470
25,452,521
227,229,745
34,973,317
240,420,500
48,092,892
233,699,035
46,714,068
194,865,743
45,332,775
197,349,503
43,700,350
194,356,746
48,951,725
190,857,473
54,356,827
203,805,108
66,664,378
I n foreign
vessels.
$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
550,546,074
586,492,012
638,927,488
755,822,576
839,346,362
366,723,651
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
1,165,194,508
1,174,597,321
1,217,063,541
a r.r i e d i n
, , ...... ^ _., —Ac _.
merican
Total.
$72^,850,823
607,257,571
695,557,592
76^,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
991i 896,889
1,132;472,258
1,2121328,233
1,3401899,221
1,312^680,640
1,219,^434,544
1,142;904,312
1,194:045,627
1,210;519,399
1,202,1708,609
1,503,1593,404
1,545,041,974
1,475,1181,831
1,547,020,316
1,408,1211,302
1,319,1717,084
1,314,1960,966
1,408,1502,979
1,419,1911,621
1,487,533,027
i
vessels.
. 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
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
13.70
The coasting, river, and lake trade of the United States during the
same period has been, and is likely to remain, in a flourishing condition so long as it is afforded its present protection.
1
Persistent efforts have been made, from time to time, io break down
the safeguards thrown around our domestic commerce and expose it
to the system of free trade, which has wrought such sweeping destruction in our foreign shipping interests. In the light bf experience it is
difficult to understand how any one, who is not more | interested in
foreign prosperity than in our own, can desire to see this protection
withdrawn.
|
Bonds on documenting of vesselSo
\
Investigation made by the Bureau of Navigation indicates that the
annoyance and inconvenience occasioned by the present legislation, re
quiring the execution of bonds as a basis for the issue of|marine documents to vessels, exceeds any compensating benefits derived there-
LIV
, REPORT OF THE SECRETARY OF THE TREASURY.
from. Experience shows that the bonds are seldom, if ever, put in
suit, and rarely become forfeitable. I recommend their discontinuance
and the substitution of such statutory penalties as may be deemed
necessary,
^
.
,
Amendment of laws regulating tonnage tax.
The Bureau finds that the operation of the provisions of section 11
of the act of June 19, 1886, entitled ^'An act to abolish certain fees,''
etc., has not resulted in the action by foreign Governments contemplated by Congress. The legislation alluded to provides that the President of the United States shall suspend the collection of so much of
the regular tonnage tax iniposed on foreign vessels as may be in excess
of the tonnage and light-house dues,, or other equivalent tax or taxes,
imposed on American vessels by the Government of any foreign country, and that he shall indicate, by proclamation, the ports to which
such suspension shall apply as often as it may become necessary by
reason of changes in the laws of the foreign country. It is not known
that the privilege offered has led to the abolition of any tax on
American vessels by any foreign Government.
The .advantage
accrues mainly to foreign vessels^ and as there seems to be no good
re^ason why vessels from one foreign country, without recompense,
should escape taxes levied under similar circumstances on vessels from
other countries, the repeal of the proviso is recommended.
The Government of Sweden contends that the distinction now made
by law is in conflict with the treaty between that country and the
United States.
Signals for ships, etc.
Some additional legislation may be found necessary regarding signals for ships, pilotage, and like subjects, upon the conclusion of the
labors of the Maritime Conference now in session.
Our merchant marine.
I t is but a few years since we stood first among the'nations in ship-^
building, and were excelled only by Great Britain in the amount of
our ocean tonnage, l^ow, so far as foreign trade is concerned, our
ship-yards are comparatively silent, and our flag has almost disappeared from the high seas. Once 75 per cent, of our tonnage was carried in our own ships; now 87 per cent, is carried; in foreign bottoms.
Once our ocean commerce enriched our own countrymen ; now our immense tonnage of exports and imports gives employment mainly to
alien labor, and alien capital levies upon our people an annual tribute
NAVIGATION.
,
;
LV
estimated at $150,000,000 for freights and fares. NoHs this tribute
the only, or even the worst, feature of the case, for our farmers aujd
mechanics are practically excluded from the markets of! the world, except as they may be reached by the circuitous routes! prescribed for
their own advantage and convenience, by our great comjietitors in these
markets. . An overwhelming public sentiment demands that this humiliation and loss shall cease. If our industrial interests are to prosper, if our commerce is to be sustained, extended, and increased, we
must cease to be dependent upon any other nation or people for access
'
'
'
i
to foreign markets.
!
Doubtless there are serious obstacles in the way, and tihey are greates
now than they were a few yearg ago, on account of the immense capital
invested by foreign steamship companies, with which v^e shall have to
compete. These obstacles will constantly increase, for every year adds
largely to the capital thus invested." Whatever is to be done must be
done promptly. We have tried the do-nothing policy long enough.
Its results are before us, and they are not satisfactory.: Shall we.accept as inevitable'our present humiliating and unprofitable position,
or shall we use means at command \to regain our lost power and prestige on the ocean*?. Shall we give that protection and jencouragement
to our shipping interests that other nations give to theii^s, and which
we freely give to all our other great interests^ Or shall we, by continned neglect, suffer them to be utterly destroyed *? ' !
'
• The lessons taught by the founders of the Government on this subject inay be read, just now, with great profit. The.second'act passed
by the First Congress, July 4, 1789, was for the protection of American
shipping by the imposition of a discriminating duty of! more than 100
per cent, "on Asiatic trade, notably on. teas brought iniforeign vessels.
The third act passed by that Congress, July 20, 178|9, imposed discriminating tonnage duties on foreign vessels entering our ports, as
follows:
'
I
^ 1
American vessels
.....per ton.!.
American built vessels belonging to foreigners
do.... i.
. All other vessels.... .'
:
d.o....i.
Cents.
06
30
50
^
The same Congress on the 1st of September, 1789, prohibited any but
American vessels from wearing the American flag. i
The men who had achieved the independence of the Eepublic left no
doubt of their purpose to protect its interests on the water, as well as
on the land. So great was the development of our ship-building and
shipping interests, under the fostering influence of those a^ts, that we
sold ships amounting to hundreds of thousands of tons to foreigners,
LVI
REPORT OP THE SECRETARY OF THE TREASURY.
and oiir inerchant-marine soon became the pride of every citizen, and
the envy of the world,
Yoicing the national sentiment in 1825, Daniel Webster said, ^^We
have a commerce which leaves no sea unexplored,- navies which take
no law from superior force. ^^ How like bitter irony these words would
sound in 1889. The brilliancy of our achievements on the ocean begat
overconfidence, and, listening to the voice of free trade, Congress on the
24th of May, 1828, passed an act withdrawing all protection froin our
shipping interest, and opening our ports to the ships of all nations upon
the same terms as to our own. E"otwithstanding this, our merchantmarine continued to be prosperous so long as wooden vessels were the
only vehicles of commerce and other nations refrained from paying
heavy subsidies to their ships. But when iron steamer^ took the place
of wdoden sail-vessels, and European Governments began to pour their
contributions into the treasuries of their steamship companies, the decadence of American shipping began and has continued ever since.
pro other result was possible under the circumstances. When we
opened our ports to the vessels of the world, upon the broadest principles of equality and free trade, other nations seized the advantages thiis
offered, and, at once began the system of liberal subsidies, while this
-nation left her citizens to compete unaided against foreign ship-owners
backed by the power and financial aid of their Governments. The total
amount which has thus been contributed to aid in sweeping our commerce from the ocean, is not accurately known, but the following conservative statement will give some idea of what our people have had
to contend with, in their heroic but vain efforts to maintain a respectable merchant-marine.
'
From 1830 to 1885 Great Britain paid out of her treasury to steam"^ ship companies for mail contracts and subsidies over $250,000,000, and
since 1885 she has paid annually an average of $3,750,000.,
.
The Italian Government pays an annual subsidy of $1,570,000.
France pays a graduated bounty for construction of vessels, from $2 to
$12 per ton, and also a bounty per mile run. The sums asked for in the
French budgets of 1888 and 1889 under these heads amounted to about
$1,650,000; the annual outlay from .1881 to 1886 is stated at about
'$3,500,000,
•
Germany contributes largely to the support of her steamships, paying, as has been stated, nearly $1,000,000 a year to a single line, which
has supplanted an unsubsidized American line, formerly running
between 'E^w York and Bremen.
. Spain pays a bounty of $6 on the tonnage built in that country, in
accordance with the established regulations, and provides for a rebate •
NAVIGATION .
'
';
^ LVll :
of duties On articles imported for the" construction of vessels. Her
annual compensation for ocean mails is said to be over $1,000,»000.
The United States alone, of the great commercial nations, while encouraging railroads by liberal grants and subsidies, and protecting her
coastwise and internal commerce and all her home jindustries, has
utterly neglected, and abandoned her great foreign maritime interests,'
even declining to pay fair rates for services rendered by vessels of the
United States, although Congress had appropriated imoney for the
purpose.
j
American merchants, ship-builders, and ship-owners' ask no special
advantages. Give them an equal chance and they willthold their own
against all competitors. But they can not be expected long to maintain
the unequal contest against foreign capital, backed by foreign treasuries. Some of our broad-minded and patriotic citizens are still struggling to maintain > few lines, by which direct communication is
kept open, notably with South America, the West Indies, and China
and Japan. The line"to Brazil has to contend with the ships of England, Germany, Spain, and Italy, all of which are heayily subsidized
for the purpose of extending the commerce of their respective countries. The lines to the West Indies come in direct competition with
Spanish ships running between Havana, E'ew York, Boston, and Quebec, and receiving governmental bounties amounting to $20,307 per
round trip. '
j
American vessels running between San Francisco ahd Asiatic ports,
and receiving mail compensation of only $14,446.32 a year, have to compete with the subsidized ships of England and other countries, and
especially with the new line recently established for the [express purpose
of preying upon our commerce, both on land and sea. [ This latest and
boldest attack upon our transportation interests is backed by subsidies
of $300,000 per annum, on the line between Port Mbody, in British
Columbia, and China and Japan, and $500,000 per annum on the Atlantic line between Liverpool and St. Johns, ISTew J^runswick. The
railroad which forms the connecting link between these two steamer
lines, and thus gives a through route from Liverpool to China, has
been aided to the extent of $165,548,000, as stated in the annual report
of the Canadian Pacific Eailway Company. During the last .fiscal year '
we paid to foreign steamers for carrying our mails $396,583.81^^ and to
our own steamers only $109,828.64,
\
Can there be any doubt how these unequal contests will end if oui*
Government maintains its position of supine indifference?
The evil and its cause are both apparent. What isltheTemedy? It
can not be found in a re-enactment of the legislation!of 1789^ because
LV,m
REPORT OP THE SECRETARY OF THE TREASURY,
treaties stand in the way, and it would not now be expedient, even if we
had no treaties on the subject.
Granting American registers to foreign-built ships, for foreign tradcj
would have but little effect, and besides it would not be in harmony
with the principle of protection to American industries.
• The difficulty is not so much in the cost of building ships as in
running them in competition with cheap foreign labor supplemented
by immense foreign bounties. So far as materials for ship-b;ailding are
concerned, no nation has any natural advantages over us. Our iron,
coal, and timber are as cheap, abundant, and accessible as in any other
country. Our mechanics are unsurpassed in skill, and the matchless
genius of our inventors is the admiration of the world. If it costs
somewhat more to build a ship in this country than in Europe, because
American labor is better paid, fed, housed, and clothed, it is a cause
for rejoicing rather than regret. If ship-building will not command
the labor of our people, as other industries do, it is because that industry,
being wholly unprotected, has gone into foreign hands, while the beneficent American policy of protection has been thrown, around,our other
industries. The same policy wisely applied to ship-building and shipping interests would produce like results as in our manufacturing industries. This statement is illustrated and confirmed by bur internal
and coastwise trade, which is thoroughly protected, and hence in a
most prosperous and satisfactory condition. While the number of
vessels engaged in this trade has rapidly increased, the cost of transportation has decreased, until our lake, river, and coastwise commerce
, is conducted as cheaply as is like commerce in any part of the world.
The causes of prosperity in our domestic shipping interests; and
the causes which have brought our foreign merchant marine to its
present deplorable and humiliating condition, clearly indicate the
remedy necessary for the restoration of the latter.
'
•
Firmly convinced that American steamship builders and owners can
not unaided compete with the Governments of Europe; that without
proper aid and encouragement from the United States, we shall ,not
only fail to regain our lost foreign carrying trade, but even to retain
much longer the small remnant that remains, and that the restoration
of our merchant marine is essential to the extension of our foreign
trade, I do not hesitate to recommend that liberal and judicious aid
and^ encouragement be given for the construction of steam merchant
vessels, suitable for use as cruisers and transports in time of war; that
fair and liberal rates be paid to American steamers for transportation
of mails to foreign countries j and that special aid, either in the form
TRADE WlTii CENTRAL AND SOUTH AMERICA.
LIX
of, mail pay, or for mileage run, be made for the establishment of direct
connection by American steamer lines with Mexico, Central and South
America, and with China and Japan.
\••
''
•
.
.
i
TRADE WITH CENTRAL AND SOUTH AMEHicA.
•
•
-
'
The records of the Bureau of Statistics contain certain particulars of
the trade of the countries upon this continent southwarji of the United
States, from which the following summaries are taken, it being first
mentioned that in numerous instances it has not been practicable to
obtain information of later date than the calendar year 11887 : The total
estimated imports into Central and South America, including Mexico,
and the West Indies for 1887, including movements |of specie, were
.$522,000,000, of which only $80,000,000, or about 15 |per cent., came
from the United States. The total estimated exports, including specie,
were $564,000,000, whereof $202,000,000, or 36 per cent., were taken
by the United States. The duties collected upon thiese imports are
estimated at $59,134,011, of which $42,117,694 were |paid by sugar, '
$4,035,928 by tobacco, and $659,194 by raw wool.
j
The dutiable imports from those countries consist jmainly of sugar
and molasses, tobacco, fruits, and wool, and the free importations are
nearly all raw materials required by manufactures j in the United
States.
'
^1
' The principal exports to those countries from the Ujnited States are
breadstuffs, provisions, lumber, and mineral oils, but an appreciable
exx3ort trade is maintained in iron and steel manufactures, cotton prints,
leather goods, agricultural implements, carriages and railway cars,
though the great bulk of manufactured articles are supplied by Great
Britain, France, and Germany.
. |
Excluding specie, and estimating from the trade returns of the fiscal
year 1888, Mexico imported $43,380,000, whereof ^19,226,221 were
from the United States; Central America $15,800,285, whereof $4,592,080
were from the United States; South America $364,838,005, whereof
$29,579,227 were from the United States, and theWest Indies $97,542,820,
whereof $7,869,102 were from the United States. These figures show
a most unsatisfactory condition of our export trade i with the South
American group of States. Particular mention might be made of such
marts of commerce as Brazil, with $ 114,335,676 of ihiports, and only
$7,137,008 from the United States; the Argentine Eepublic, with
$113,244,801, whereof only $6,643,553 came from the United States, and
Chili, with $62,677,831of imports, and only $2,433,221] from the United
States. Reference is made to the appendix for information in detail
upon this very interesting subject. "
|
L^
REt^ORT
Oi^ THfi
SECRETARY
OF TfiE
TREASUMYO
E X P O R T A T I O N S ' B Y RAILWAY.
Provision should be made by law giving authority to the Secretary
of the Treasury to prescribe regulations for the collection of statistics
of exports from" the United States ^by railway. Section 337 of the Eevised Statutes embodies a provision which has been in force since the
year 1820, for the obtaining of the particulars of exportation by vessels,
but while it is equally important that the statistics of land exportation
should be collected, the mode of collection would necessarily be different, and could best be fixed by administrative regulation. The governments of Canada and Mexico obtain and publish statistics of the exports of those countries by railway, and appear to encounter no special
difficulty in so doing. What is possible and desirable for them is
equally possible and desirable for us. Any statute passed upon the
subject should contain a penalty for failure of the carrier to make a
return of exportations in such form as may be prescribed by regulation.
,
• \
'
•
SILVER. .
.
'
The continued coinage of the silver dollar, at a constantly increasing
monthly quota, is a disturbing element in the otherwise excellent financial condition of the country, and a positive hindrance to any international agreement looking to the free coinage of both metals at a fixed
ratio.
Mandatory purchases by the Government of stated quantities of silver, and mandatory coinage of the same into full legal-tender dollars,
are an unprecedented anomaly, and have proved futile, not only in
restoring the value of silver, but even in staying the downward price
of that metal.
.Since the passage of the act of February 28, 1878, to I^ovember
1, 1889, there have been purchased 299,889,416.11 standard ounces of
silver, at a cost of $286,930,633.64, from which there have been coined
343,638,001 standard silver dollars.
There were in circulation on ITovember 1 of the present year
60,098,480 silver dollars, less than $1 .per capita, the remainder,
283,539,521, being stored away in Government vaults, of = which
$277,319,944 were covered by outstanding certificates.
The price of silver, on March 1, 1878, was 5 4 i | pence, equal to
$1.20429 per ounce fine. A t this price $2,000,000 would purchase
1,660,729 ounces of fine silver, which would coin 2,147,205 standard
silver dollars. A t the average price of silver for the fiscal year ended
SILVER,
LXI
June 30, 1889 (42,499 pence), equivalent to $0.931631 per ounce fine,
$2,000,000 would purchase 2,146,755 fine ounces, out of which 2,775,628
standard silver dollars could be coined,
I
The lower the price of silver, the greater the quantity that must be
purchased, and the larger the number of silver dollarsj to be coined, to
comply with the act of February 28, 1878.
;
'No proper effort has been spared by the Treasury Department to put
in circulation the dollars coined under this law. They have been
shipped, upon demand, from the mints and sub-treasurids, free of charge,
to the nearest and the most distant localities in thej United States,
only to find their way back into Treasury vaults in payment of Government dues and taxes. Surely the stock of these dollars which can
perform any useful function as a circulating medium must soon be
reached, if it has not been already, and the further coinage and storage
pf them will then become a waste of public money and a burden upon
the Treasury,
,
j .
^
It is freely admitted that the predictions of many of (^ur wisest financiers, as to when the safe limit of silver coinage would lie reached, have
not been fulfilled, but it is believed^ that the princjiples on which
their apprehensions were based are justified by the laws of trade and
finance, and by the universal experience of mankind! While many
favorable causes have co-operated to postpone the evil effects which
are sure to follow the excessive issue of an overvalued coin^ the danger
none the less exists,
| .
The silver dollar has been maintained at par with gol^, the monetary
unit, mainly by the provisions of law v^hich make it a full legal tender, ^
and its representative, the silver certificate, receivable for customs and
other dues; but the vacuum created by the retirement of national-bank
circulation, anS the policy of the Government in not forcibly paying
out silver, but leaving its acceptance largely to the creditor, have materially aided its free circulatiouo
|
The extraordinary growth of this country in population and wealth,
the unprecedented development in all kinds of business, and the unswerving confidence of the people in the good faith and financial condition of our Government, have been powerful influences in enabling ..
us to maintain a depreciated and constantly depreciating dollar at par
with our gold coins, far beyond the limit which was believed possible
a few years ago,
,
^
1
But the fact must not be overlooked that it is only in jdomestic trade
that this parity has been retained j in foreign trade tlie silver dollar
possesses only a buiUion value^
|
LXII.
REPORT OF THE SECRETARY OF THE TREASURY,
'
Causes of the depreciation of silvero :
From the year 1717 to 1873 the ratio between gold and silver was remarkably constant, being'15.13 to 1, in the former year, and 15.92 to 1
in the latter year. During this long period of one hundred and fifty
years there were slight fiuctuations in the ratio, but not enough to
cause any serious inconvenience. Even during the period of the immense production of gold, from 1848 to 1868, when $2,757,000,000 of
' gold was produced and only $813,000,000 of silver, the change in the^
ratio was only about 1.6 per cent.
' The legislation of Germany in 1871-'73, immediately following the
Franco-German war, adopting the single gold standard for that Empire,
withdrawing, rapidly from circulation silver coins which prior to that
timehad formed almost exclusively the circulating medium, and throwing large quantities of silver at short and uncertain intervals upon the
market, was the initial factor of the great monetary disturbance which
destroyed the legal ratio between gold and silver that had existed for
half a century.
, France and her monetary allies, Belgium, Switzerland, Italy, and
Greece, alarmed at the immense stock of German silver which was sure
to flow.into their open mints, immediately restricted, and soon afterward closed their mints to the coinage of full legal-tender silver pieces.
This action only hastened the catastrophe."
The other nations of Europe were not slow to follow the example of
Germany and France. In 1873-^75 Denmark,, ISTorway and Sweden
adopted the single gold standard, making silver subsidiary. In 1875
Holland closed her mints to the coinage of silver. In 1876 Eussia suspended the coinage of silver, except for use in the Chinese trade. In
1879 Austria-Hungary ceased to coin silver for individuals, except a
trade coin known as the Levant thaler.
The result has been, that while prior to 1871 England and Portugal
were the only nations of Europe which excluded silver as full legaltender,money ; since the monetary disturbance of 1873-'78 not a mint
of Europe has been open to the coinage of silver for individuals. ,
It has been charged that the act of February 12, 1873, revising the
.coinage system of the United States, by failing to provide for the coinage
of the silver dollar, had much to do with the disturbance in the value of
silver. As a matter of fact the act of 1873 had little or no effect upon
the price of silver. The United States was at that time on a paper
basis. The entire number of silver dollars coined in this country from
the organization of the Mint in 1792, to that date, was only 8,045,838,
and they had not been in circulation for over twenty-five years.
LXIII
SILVER.
Moreover, immediately upon the passage of that! act, the United
States, entered the market as a large purchaser of silvpr for subsidiary ,
coinage, to take.the place pf fractional paper currency, apd from 1873
to 1876 purchased for that coinage 31,603,905.87 standard ounces of
silver, at a cost of $37,571,148.04,
'
|
Starting in 1878 with no stock of silver dollars, this country, standing alone of all important nations, in its efforts to restore the former
equilibrium between gold and silver, has, in the brief period of eleven
years, added to its stock of full legal-tender money 1343,638,001 dollars of a depreciated and steadily depreciating metal. I
What has been the effect upon the price of silver? }
The value of an ounce of fine silver, which on^ March 1, 18/8, was
$1.20, was on IvTovember 1, 1889, $0.95, a decline in; eleven years of
over 20 per cent.
^
'
I
In 1873, the date at which purchase of silver for subsidiary coinage
coirimenced, the bullion value of the silver dollar, containing 371.25
grains of pure silver, was about l i cents more than the gold dollar ; on
March 1, 1878, the date of the commencement of purchases for the
silver dollar coinage, it was $0.93, while to day its bullioii value is 72 cents
in gold. In other words, there has been a fall of ovet 28 per cent, in
the value of silver as compared with gold in the last sixteen years, and
of over 20 per cent, since we commenced purchascSs in 1878. The
downward movement of silver has been continuous, and with uniformly
accelerated velocity, as will appear from the following table:
* i
Average price of silver in London each fiscal year, 1873-1889, and value of an ounce of fine
silver, at par of exchange, with decline expressed in percentages eadh year since 1873.
Price in London.
/ Year.
1873
1374
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886 '.
1887
1888
1889
.
•••••
.-.
;
'.
d.
59.2500
58.3125
56.8750
52.7500
54.8125
54.3107
50.8125
52.4375
51.9375
51,8125
51.0230
50.7910
49,8430
47.0380
44.8430
43.6750
42.4990
V a l u e of a fine o u n c e . D e c l i n e f r o m 1873.
Dollars.
1.29883
1.27827
1.24676
1.15634
1.20156
1.19050
1.11387
1.14954
1.13852
1.13623
1.11826
1.11339
' 1.09262
1.03112
.98301
.95741
.93163
Indian council bills.
\
}
1
1
!
!
1
j
P e r cent.
1 6
4
11.
7 5
8 3
14 2
11 5
19 3
12 5
13 9
14 3
15 9
20 6
24 3
26 3
28 3
\
In view of the almost unanimous concurrence of the leading commercial nations of the world in excluding silver from coinage as full legal-
LXIV
REPORT OF THE SECRETARY OF THE TREASURY
tender money, it would seem unnecessary to look further for the caused
of its depreciation, despite the laj:*ge purchases upon the part of this
Government. There has, however, been ^one cause, which probably
more than any other, except hostile legislation, has depressed the market
value of silver, namely, the sale of Indian council bills.
About 1867 a diminution in the flow of silver to the east was clearly
marked. This was due to the use of bills of exchange, called '' council
bills,'' sold by the India Council of the Government of India residing
in London. These bills of exchange, which are claims for certain sums
of silver, are bought by merchants wishing to make payments in India,
silver being the standard and only legal tender in that empire; so that
just as the expenses of the Indian government rose, and, in consequence,
the number of council bills offered for sale in London increased, the exportation of silver to India was saved.
In 1868-^69, the sale of these bills amounted to £3,705,741, in round
numbers $18,000,000, whereas in 1888-'89 there was realized from the
sale of these bills £14,223,433, about $70,000,000.
In some years their sale has risen as high as $90,000,000.
The average amount realized annually from the sale of council bills,
for the fifteen English official years, 1875-1889, has been £13,756,882,
or $67,000,000, while the annual shipments of silver to India for the
same period, have averaged £7,176,446, or $35,000,000.
The following table exhibits the net imports of silver into India, and
the amount realized from the sale of Indian council bills, each year,
from 1875 to 1889 :
Table showing the net imports of silver into British India, and the amount of council bills
sold, during the fifteen English official years {ending March 31 of each year) 1874-'75 to
1888-'89. '
.
^
N e t i m p o r t s A m o u n t of
council bills
of s i l v e r .
sold.
Years.
1874-'75
1875-'76
1876-'77
1877-'78
1878-'79
1879-'80
1880-'81
1881-'82
1882-'83
1883-'84
1884-'85
1885-'86 .
1886-'87
1887-'88
1888-'89
;
i
i
5
..%
c
:
Total
Annual average
,
• •
£4,640,000
£10,841,614
1,550,000
12,389,613
12,695,799
, 7,200,000
10,134,455
14,680,000
13,948,565
3,970,000'
15,261,810
7,870,000
15,239,677
3,890,000
18,412,429
5,380,000 '
7,480,000
15,120,521
6,410,000
17,599,805
13,758,909
7,250,000
11,610,000
10,523 505
7,160,000
. 11^157,213
9,310,000
15,045,883
9,247,000
14,223,433
107,647,000
206,353,231
7,176,466
13,756,882
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SILVER.
1
• LXV
.These $50,000,000 to $90,000,000 of council bills, payable in silver,
annually thrown upon the market affect the price of 'silver as would
the sale of so much bullion. That these council bills hang like an
incubus upon the price pf silver can not be doubted, land they must
enter largely into any inquiry as to the causes of depreciation, and into
any estimate of the probable advance of that metal, : \.
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Increased product.
.
|
While the demand for silver has been cut off by the closing of the
mints of Europe to its coinage, and the usual demand! upon the part
of India reduced by the sale of council bills^ the annual product of silver
has largely increased,
!
The world's product of silver in 1878 was estimated at, $95,000,000
(coining value), of which $45,200,000 was the product of the United
States. In 1888 the world's product of silver was estimated at
$142,000,000 (coining value), of which the United States contributed
$59,195,000. .These figures show an increase during the last decade in
the world's product of silver of about 50 per cent., and an increase in
the silver product of the United States of over 30 per cent.
In view of these facts, while it is evident that the primary cause of
the decline in the price of silver was adverse legislatipn by the principal countries of Europe, virtually ostracising silver^ it is also true
that the fall has been hastened by an increased suxoply falling upon a
market for which there was a reduced demand,
}
•
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Boyal Gommissiono
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The Eoyal Commission, appointed by the British jGovernment in
1886 to inquire into the recent changes in the relative value of the
precious metals, adopted the following statement, without division:
We are of opinion that the true explanation of the phenomena wliich we are directed
tx) investigate is to be found in a combination of causes, and can not be attributed to
any one cause alone. The action of the Latin Union in 1873 broke the link between
silver and gold, which had kept the price of the former,* as measured by the latter, constant at about the legal ratio, and when this link was broken the^ silver market was
open to the influence of all the factors which go to affect the price of a commodity.
These factors happen, since 1873, to have operated in the direction of a fall in the gold
price of that metal, and the frequent fluctuations in its value are accounted for by the
fact that the market has become fully sensitive to tlie other iuflmeuces tp which w^
have called attention above,
'
m 89^^Y
,1
LXVI
RJEPORT OF THE SECRETARY OF THE TREASURY^
Joint usc'Of gold and silver as money.
It is unquestionably true that, in this country, public sentiment and
commercial and indu|strial necessity demand the joint use of both
metals as money. ItI I B not proposed to abandon the use of either gold
or silver money; the ultilization of both metals as a circulating medium
and as a basis for paj er currency, is believed to be essential to our
national prosperity, We can not discard either if we would without
invoking the most seric us consequences. But the unprecedented change
in the market value (•f the two metals within the last sixteen years,
and the steady depr eclation of- silver in the face of the large purchases
on the part of this Goyernmeht, arouse grave apprehensions and cause
great difficulties.
With a stock of 343, 638,001 silver dollars, sharing equally with pur
gold coins the function of'full legal-tender money, as well as $76,600,000
silver coins of limited render, and an annual product of silver from our
mines, approximating $60,000,000 (coining value), it would not be for
the interests of this growing country, nor would it be wise^ublic policy,
to discontinue the use of either metal as money. Yet it is equally
true that two widely dijfferent and constantly varying standards, for the
measurement of values are impossible in any permanent, well ordered,
financial system,
While our circulatioiu now embraces gold and silver coin and four
kinds of paper money. there is in reality, since 1873, but one standard.
Section 3511, Eevised Statutes, provides that ''the gold coins of the
United States shall bo a one dollar piece, which at the standard
weight of 25.8 grain^ shall be the unit of value.^^ * ^ * Our
legal-tender notes have behind them, in the vaults of the Treasury,
a reserve of $100,000, 030:in gold provided as a guarantee for their redemption. Our bank surrency is based upon United States bonds, the
principal and interest of which are payable in gold. Our gold certificates are expressly ma(|e redeeriiable in gold coin.
It may be said that our standard silver dollars, and the certificates
based upon them, consDitute an exception. They are an anomaly, the
standard is nominally silver, but in reality it is gold. The bullion
from which these dolla|rs are coined is purchased at its market price in
gold. They^are made a legal tender, and are receivable for customs and
other dues. The faith and power of the Government are, therefore,
pledged to make them Cjqual to their face value; and so long as their number is kept within safe and proper limits they will, in this country, at
least, be maintained dt par with gold. The honor, as well as the intey^sts of tbQ .country^ ar^ involved in the prese:rv^tioi^ of this paritya
SILVER..,
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LXVII
•
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Equivalence between our gold and silver dollar in foreign, trade is
impossible at the present price of silver, but equivalence in domestic
trade is practicable so long as the coinage of the silver dollar is kept
within proper limits.
,
Up to this time they have been maintained at par by force of
^ governmental authority, and by the confidence of the people in the good
faith and financial power of the United States,' Gold is thie real standard
for the measurement of values, and will remain so until snpplanted by
its great rival, silver 5 or until some international agreejment shall be
entered into between Governments strong enough to establish and maintain a fair ratio of value between the two metals.
|
Force applied through legislative action may for a time control the
laws of trade, but eventually, those laws, stronger than legislators, will
assert their power.
j
There are doubtless persons who would banish silver I from circulation and rely wholly upon gold, while others would make silver the
only standard and by adopting the cheaper metal drive Ithe dearer out
of circulation, if not out of the country; but an overwhelming preponderance of public sentiment demands that both metals be! utilized.
The problem, therefore, presented for our consideration, and which
demands the action of Congress, is not which metal shall we use, but,
^'How shall we use hothf^
!
.
'
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.
Solutions which have been proposed.
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Various solutions of this problem have been proposed] among which ,
the following may be mentioned:
!
First. An international agreement fixing a ratio between silver and gold,
and opening the mints of the leading nations of the world to the free coinage
of both metals J at the ratio so established.
j
In such concert of action, if it could be secured, is thie final and satisfactory solution of the silver problein. The policy ojf promoting it
was instituted by the United States in 1878. The proposition was
made to the European nations, and was fully, set forth and justified in
two International Conferences. Unfortunately, some ofi the most powerful nations are not yet ready to act. Public sentiment, even in those
countries, seems to be steadily moving in- that directiqn, but thus far
no substantial results have been achieved.
j
It is believed by many persons, well informed on the subject, that
eventually the evils and embarrassments of the present condition of
affairs will become so intolerable, as to force the most reluctant nations
iuto an agreement foi* the rQnioueti2;atioft of silver upon some f^ir
LXVIII REPORT OF THE SECRETARY OF THE TREASURY.
ratio. It has been proposed, by persons of the highest financial
standing, to hasten this result, by stopping the purchase of silver by the
United States, and by throwing an additional 30,000,000 ounces annually^
upon the market, to precipitate so sudden and great a fall in its price as
to create serious financial disturbance throughout the world, and thus
compel a speedy international adjustment of the silver question. This
policy might prove the shortest way of reaching the desired result, but
it would probably be attended by commercial and iudustrial disasters
in this country as well as abroad, which conservative statesmanship
should seek to avoid. Some other less dangerous solution should be
found if possible. The modification of this proposal, fixing a date in
the future for suspension in case no co-operation in the maintenance of
silver on the part of other nations should be forthcoming, reduces the
danger, but does not entirely remove it.
Second. The present policy of purchasing and coining $2,000,000'M;orf^
of silver per month.
. This is now approved by nobody.
The so-called silver men oppose it, because it does not go far enough
to meet their wishes; opponents of silver coinage denounce it, because
they deem it unwise and dangerous to increase the issue of a coin whose
nominal value is far in excess of its bullion value.
Third. Increased purchases and coinage of silver to the maximum of
$4,000,000 worth per month, now authorized by law.
This policy is proposed by many as a means of increasing our circulation, which they assert is deficient by reason of the retirement of
national-bank notes; and also as a means of enhancing the value of
silver by absorbing the world's surplus product. Both of these objects
may be far better secured, as will be shown hereafter, by another
method which possesses all the advantages of increased coinage, and
involves none of its dangers.
The argument has been strongly urged that by reason of the rapid
retirement of national-bank notes, a severe contraction of our currency
has been effected, which is paralyzing our industries, crippling our
commerce, and depressing the price of all kinds of property. The
facts, however, do not sustain this argument.
Since March 1, 1878, there has been no contraction, but on the contrary a very large expansion of our currency, as will appear from the
following statement taken from the books of the Treasury i
felLVEit.
xxtx
Comparison between March 1, 1878, and October!, 1^89.
I n circulation I n circulation
M a r c h 1,1878. O c t o b e r 1,1889.
•
Gold coin
S t a n d a r d sllv6r dollars
Subsidiary silver
G o l d certificates.,
S i l v e r certificates...
United States notes
^
National-bank notes
$82,530,163
311,436,971
313,888,740
$375,947,715
57,554,100
52,931,352
116,675,349
276,619,715
325,510,758
199,779,011
805,793,807^
1,405,018,000
53,573,833
44,364,100
Increase.
Decrease.
i
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$293,417,552
57,554,100
i.,..
1
.t
$642,481
72,311,249
276,619,715
14,073,787
114,109,729
•.
Totals
,
713,976,403
114,752,210
599,224,193
Net increase
1
From the above statement it will be seen that the-r
Total increase of circulation of all kinds has been
Total decrease..........
Net increase
$11^,97^6,403
114,752,210
59^224,193
The net expansion since March 1, 1878, has, therefore, been
$599,224,193. The average net increase per month has been $4,342,204,
$52,106,451 per annum. The total net increase has been a little over
74 per cent., while the increase in population has been about 33 per cent.
In 1878 the circulation was about $16.50 per capita, and in 1389 it was
about $21,75 per capita,
| , - >
The increase each year, in the different kinds of monpy, is exhibited
in the following table i
I
.
The.amount and kinds of money in actual circulation on certain-dates from 1878 to 1889.
•'
Year.
1878
1879
1880
1881....
1882
1883.'.
1884
1885
1886....
1887
1888
1889
Date.
March 1
.'..
i... O c t o b e r 1
October 1
October 1
October 1
... O c t o b e r 1
October 1
October 1
October 1
;
October 1 •
October 1
October 1
;
Total circulation.
Gold coin.
$805,793,807
862,579,754
1,022,033,685
1,147,892,435
1,188,752,363
1,236,650,032
1,261,569,924
1,286,630,871
1,264,889,561
1,353,485,690
1,384,340,280
1,405,018,000
$82,530,163
123,698,157
261,320,920
328,118,146
358,351,956
346,077,784
341,485,840
348,268,740
364,894,599
391,090,890
377,329,865
375,947,715
S t a n d a r d sil- S u b s i d i a r y silver.
ver dollars.
1
i
$11,074,230
22,914,075
32,230,038
33,801,231
' 39,783,527
40,322,042
45,275,710
60,170,793
60,614,524
57,959,356
57,554,100
$53,573,833
54,088,747
48,368,543
47,859,327
47,153,750
48,170,263
45,344,717
51,328,206
48,176,838
50,414,706
52,020,975
52,931,352
„
Year.
1878.
1879
1880
1881..
1882
1883f.
1884
1885
1886
1887
1888
1889
Date.
March 1
October 1
October 1
October 1
O c t o b e r 1...
October 1
October 1
October 1
October 1
October 1
October 1
October 1
G o l d certificates.
$44,364,100
14,843,200
7,480,100
5,239,320
4,907,440
55,014,940
87,389,660
118,137,790
84,691,807
97,984,683
134,838,190
116,675,349
S i l v e r cer- U n i t e d S t a t e s N a t i o n a l
b a n k notes.
tificates.
notes.*
$1,176,720
12,203,191
52,590,180
63,204,780
78,921,961
96,491,251
93,656,716
95,387,112
154,354,826
218,561,601
276,619,715
$811,436,971
327,747,762
329,417,403
327,655,884
325,272,858
321,356,596
325,7;86,143
318,7:36,684
310,161,935
329,0f70,804
806,052,053
325,510,758
i
$313,888,740
329,950,938
340,329,453
354,199,540
356,060,348
347,324,961
324,750,271
311,227,025
301,406,477
269,955,257
237,578,240
199,779,011
* Includes outstanding clearing-houge certificates of th© act of Juii© 8,1872.
LX^
REPORT OF THE SECRETARY OF THE TREASURY.
The statement, therefore, that this country is suffering a paralysis
from severe contraction, does not seem to» be sound, nor do the facts
appear to justify a largely increased coinage of silver dollars for the
purpose of expanding the currency.
As to the other proposition, that increased coinage would enhance
the value of silver Nby absorbing the world's surplus product, it is a
matter of grave doubt whether the purchase of an additional $2,000,000
worth of silver per month would have the effect of materially and permanently increasing the price of silver. That an increase of price
would temporarily occur, if this Government should adopt such a policy
seems probable, but whether it would he maintained is a matter of
conjecture^dependent upon conditions which no one can foresee.
If the purchase of 299,889,416 ounces of silver, in the brief period of
eleven years, did not even stay the downward tendency in price, but in
the face of this immense quantity purchased, silver declined over 20
per cent. ^ in value, what assurance have we that doubling the amount
to be purchased and coined would materially and permanently enhance
the price of silver, much less restore the former equilibrium'?
Such a policy would on the other hand be attended by great dangers, and would widen the gap between the legal ratio in coinage of
this country and European countries, and thus increase the difficulties
in the way of an international settlement. Every silver dollar coined
at the ratio of 16 to 1 (actually 15.98 to 1) is an additional obstacle in
the way of the adoption of any practical ratio by" international agreement, which is the only final solution of tlie silver question. For this
reason, if for no other, future accumulations of silver should be only
in the form of bullion.
;
„The purchase of $4,000^000 worth of silver a month, at the present
price of silver, would mean the coinage of 5,600,000 silver dollars
monthly, to be stored away in Treasury vaults. It may be said that
certificates would be issued on these dollars, and that they would be a
popular form of, currency, but the fact is, that at no time since the coinage of the silver dollar was commenced, has the full amount of silver
dollars held by the Treasury been covered, by outstanding certificates.
The substitution of the silver certificate for the cumbersome and in' convenient silver dollar, while it has tended to popularize it, and give
it a circulation otherwise impossible, and to extend its usefulness, and
postpone the evil day so offcen prophesied, has added nothing tp its
value, and has relieved the dollar from none of the dangers inherent
in the effort to keep an overvalued coin at par with gold. These certificates rather add tp the perils of such a fiiaancial policy by temporarily
• . SILVER.
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LXM.
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popularizing it, and by increasing and intensifying, thirough postponement, the evil results which inevitably await upon its enlargement and
continuance.
'
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The coinage of 5,600,000 silver dollars a month would tax the present
mint organization to its utraost capacity, and would practically suspend the coinage of gold. True, this might be obviated by enlarged
facilities, but as the coinage of $2,000,000 worth a month has more than
met the demand for certificates, the argument that this additional coinage
would soon be owned by the i3eople in the shape of certificates, is not
sustained by the history of the past nor by the demands of the present.
If the issue of silver dollars, or the certificates which represent them,
should become so numerous as to endanger the free circulation of gold,
and its representatives, gold certificates and legal-tender notes, th^ dues
of the Government would soon be paid in silver ; and a!s heretofore the
interest and principal of the obligations of the Government have been
paid in gold, it would pnly be a question of time when tlie specie reserve
in the Treasury would change from gold to silver to such an extent as
to force the Secretary to pay out silver. Just so long as the Government does not forcibly pay out silver, but leaves its aciceptance to the
option of the creditor, no one is forced to receive it unless he thinks he
can dispose of it at its face value, and in this way the number of silver
dollaris in circulation is limited to actual requirements. But if more
than sufficient to satisfy business needs are issued, they accumulate in
the hands of merchants and in banks, and, unless the Government
redeems them, they must depreciate.
j
The Secretary df the Treasury, in whom is lodged tiie discretionary
power to purchase and coin $4,000,000 worth of silver per month, concurs in the opinion of all his predecessors since 1878, pf both political
parties, that there is a limit beyond which it is hot safe to go in the
coinage of full legal-tender dollars, the nominal value of which is far in
excess of the bullion value, and he has therefore confined his purchases
to the amount required by law.
|
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Fourth. Free coinage of standard silver dollars.
' \•
This maybe called the ^^ heroic'^ remedy. To open our mints to free
coinage for depositors, when 412 J grains of standard silver are worth in
the markets of the world only 72 cents, would be to say jto everybody at
home and abroad, bring us 72 cents worth of silver, and by the' magic
of our stamps and dies we will transmute it into 100 cents.
Eree coinage of silver, while it is an indispensable condition of permanent restoration, were it |)estowed by this country at a time' when
LXXll REPORT OF THE SECRETARY OF THE TREASURY.
the metal value,ofthe silver in the full legal-tender dollar is 28 cents
less than its nominal value, would simply have the effect, by opening
the mints to the free coinage of silver into legal dollars, to, close them
for the free coinage of gold,' ¥ o doubt our mints would find ample
employment. If they were now open to the free coinage of silver, we
should not need them for the coinage of gold, because gold would command a premium and become a commodity to be hoarded or shipped
abroad, and not a coin for circulation at home. It would stop the simultaneous circulation of gold and silver. Our customs dues would be paid
only in silver, our legal-tender notes would be used to draw the gold
from the Treasury, and would then represent only a debt in silver, and'
we should be compelled to go into the market and purchase gold to meet
our obligations, or pay them in silver dollars. Eich and powerful as
the United States is, we are not strong enough, nor rich enough, to
absorb the silver of the world, without placing our country wholly upon
the Asiatic silver basis. This policy would in no wise tend to restore
the desired equilibrium between gold and silver nor to promote their
joint use as money,
I^or would it meet the hopes and expectations of those who desire an
increase of our circulating medium.
*
The amount of gold and gold certificates owned by the people and in
actual circulation, exclusive of $187,572,386 owned by the Treasury on
IsTovember 1, 1889, was $496,622,300. Free coinage of silver dollars
would, as already stated, very soon put this large amount of gold at a
premium, and cause it to be hoarded or exported, and thus retire it
from circulation.
Even if we should coin 100,000,000 standard silver dollars a year, it
would be five years before enough of them could be put in circulation
to equal the/gold thus banished, and by the time 500,000,000 silver
dollars, in addition to our present stock, could bQ circulated, their depreciation from the gold standard might require one or two hundred
millions more to do the same aniount of work now done by gold.
It is difficult to conceive of a method by which a more swiffc and disastrous contraction of our currency could be produced.
It is within the memory of all that for several years prior to 1879
gold was not in circulation as money, but, when resumption took place,
the hidden treasures, which had so long been banished from actual
use, at once flowed into the channels of business and produced the
most, substantial and satisfactory conditions of prosperity.
The free coinage of silver dollars, under existing circumstances,
would be to reverse the results achieved by resumptiono
SILVER,
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LXXni
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Mfth. The coinage of silver dollars containing a dollaris worth of bullion.
This has been with many a favorite solution of the jproblem under
discussion. They say ^^ We have no objection to the coinage of silver
if you will only make an .honest dollar, by putting intoijb enough silver
to make it equal in value to a gold dollar. ^^
]
This proposition, while apparently ^^ honest,'^ is thoroughly impracticable and impolitic.
^
! '
As the price of silver varies almost daily, the amount of silver to
be put into the silver dollar, to make it of equal value to the gold
dollar, would have to be changed constantly. While ithe divergence
between the dollar of gold and the dollar of silver would not be so
great, the relative value of the two dollars would, in reality, be as
fluctuating and uncertain as it is now. The present silver dollar is
inconveniently large and heavy for actual use as money,] and to increase
its weight from 412 J to 556 grains (which at the present price of silver
would be the equivalent of the gold dollar), that is, to increase its bulk
35 per cent., would make it simply intolerable,
\
Another objection is that the coinage of a heavier ddllar would be a
new obstruction to any international ratio.
j
The paramount objection to this plan, however, is that it would
have a decided tendency to prevent any rise in the value of silver.
Seizing it at its present low price, the law would in effect declare
that it must remain there forever, so far as its uses for coinage are
concerned, •
!
I
Sixth. Issue certificates to depositors of silver bullion at the rate of one
dollar for 412i grains of standard silver.
I '.
This proposition is a recognition of the inexpediency of coining silver dollars to pile away in Treasury vaults, while their paper representatives are doing the work of circulation. To thi^ extent it is an
improvement on the last four propositions, inasmuch as it would save
the useless expense of coinage, and be more convenipnt for storage, ^
It would also be a step in the way of an international agreement,, by
stopping further silver coinage at a ratio different frpm that ^almost
universal in European countries,
'
j
This proposition practically amounts to free coinage I of silver for depositors, and is open to all the serious objections and dangers which
have been urged against that heroic remedy,
-I'
LixtV REPORT OF THE SECRETARY OF TiTE TREASURY.
Measure recommended.
^
Issnie. Treasiiiy notes, again'st deposits of silver TbiiHion a t tlie
'market price of silver wlien deposited, payable on demand in siicli
quantities of silver 'biiillion as will equal in value, at tlie date of
presentation, tlie nnmber of dollars expressed on tlie face of tlie
'notes at tlie m a r k e t price of silver, or in gold, a t t h e option of tlie
Government; or in silver dollars a t t h e option of t h e liolder. Kepeal
tlie compulsory, feature of tlie present coinage act.
The Secretary desires to call special attention to this proposition,
believing that in the application of its principles will be found the
safest, surest, and most satisfactory solution of the silver problem as it
is now presented for the action of this country.
In explaining the proposed measure, at this time, it is intended to
deal only with its general features, but, if desired, a bill embracing
the details believed to be necessary to its satisfactory operation will be
prepared and submitted for the consideration of Congress.
The proposition is briefly this: To open the mints of the United
States to the free deposit of silver, the market value of the same (not
to exceed $1 for 412.5 grains of standard silver) at the time of deposit,
' to be paid in Treasury potes; said notes to be redeemable in the quantity of silver which could be purchased by the number of dollars expressed on the face of the notes at the time presented for payment, or
in gold, at the option of the Government, and to be receivable for
customs, taxes, and. all public dues; and when so received they may be
reissued 5 and such notes, when held by any national-banking association, shall be counted as part of its lawful reserve.
The Secretary of the Treasury should have discretionary power to
suspend, temporarily, the receiptof silver bullion for payment in notes,
wlien necessary to protect the Government against combinations formed
for the purpose of giving an arbitrary and fictitious price to silver.
If the price of silver should advance between the date of the issue
of a note and its payment, the holder of the note would receive a less
quantity of silver than he deposited, but he would receive the exact
quantity of silver, which could be bought in the market with the number of gold dollars called for by his note, at the date of payment. If
the price should decline, he would receive more silver than he deposited,- but he would receive the quantity of silver which could be
purchased with the number of gold dollars called for by his note at the
time he presented it for payment.
SILVER.
.•
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LXXV
The advantages of retaining the option to redeem in gold are threefold :
' ;
•
'
• • •
.
!
First, It would give additional credit to the notes, j
•
!
Second, It would prevent the withdrawal and redeposit of silver for*
speculative purposes.
j
,
Third, It would afford a convenient method of making change when
the weight of silver bars does not correspond with the amount of the
notes.
I
So far as the issue of the notes is concerned, the plan is very simple.
If a depositor brings a hundred ounces of silver to the mint,, and the
market price of silver at that date, as determined by the Secretary of
the Treasury, is 95 cents an ounce, he would receive in payment Treasury notes calling for $95.
'
j
Yarious methods of redeeming the proposed notes have been considered, but the plan recommended seems preferable.!
They might be redeemed wholly in silver bullion of the same weight
as that deposited 5 that is to say, if an owner of silver had deposited
a hundred ounces, he might receive back a hundred punces.
The objection to this plan of redemption is that it Iwould subject the
notes to all the fluctuations which might occur in the price of silver,
and, from lack of steadiness and certainty of value they might not circulate freely as money,
.
.
i
Another plan which has been suggested is to redeem them in lawful
money of the United States, dollar for dollar. This is practically a
purchase of the bullion at its market price, the Government becoming
the owner of it on the issue of the notes. This method has some features which commend it, but on the whole it does not seem logical or
desirable that the notes should be redeemed in si currency which
is certainly no better, if as good, as themselves. Moreover, it does
not seem expedient to pile up in the vaults of the G'overnment a large
quantity of silver bullion which can not be made| available for the
redemption of the very notes which are based uj^on" it. True, the
Government might coin the bullion into standard silver dollars and
use the resulting coin for the redemption of the notes, which would
be quite satisfactory when the silver dollar becomes equal in value
to the gold dollar, but at present it would not appear to be either
just or desirable to issue a note on a deposit of a hundred cents worth
of silver, and redeem it with a dollar containing only 72 cents worth
of silver.
1
LX^Vl
RtiPORT OF M E
SECRET'ARY OF
THE TREASURY.
Ad/vantages of the proposed measure.
Among the obvious advantages of the measure proposed, the following may be briefly stated: ,
» First. It would establish and maintain through the operations of
trade a convenient and economical use of all the money-metal in the
country.
Second. It would give us a paper currency not subject to undue or
arbitrary inflation or contraction, nor to fluctuating values, but based,
dollar for dollar, on bullion at its market price, and having behind it
the pledge of the Government to maintain its value at par, it would be
as good as gold, and would remain in circulation, as there could be no
motive for demanding redemption for the purposes of ordinary business
transactions.
Third. By the utilization of silver in this way a market would be
provided for the surplus product. This would tend to the rapid enhancement of its value, until a point be reached where we can with
safety open our mints to the free coinage of silver.
Fourth. The volume of * absolutely sound and perfectly convenient
currency thus introduced into the channels of trade would also relieve
gold of a part of the work which it would otherwise be required to
perform. Both of othe causes last mentioned, it is confidently believed,
would tend to reduce the difference in value between the two metals
and to restore the equilibrium so much desired. It would furnish a
perfectly sound currency to take the place of retired national-bank
notes, arid thus prevent the contraction feared from that source.
Fifth. It would meet^ the wants of those who desire a larger volume
of circulation, by the introduction of ^ currency, which, being" at all
times the equivalent of gold, would freely circulate with it, and thus
avoid the danger of contraction, which lurks in the policy pf increased
or free coinage of silver, by reason of the hoarding or exportation pf gold.
Sixth. It should not encounter the opposition of those who deprecate inflation, for, though the volume of currency may be soniewhat
increased, the notes would be limited to the surplus product of silver,
and each dollar thus issued would be absolutely sound, and would
represent an amount of bullion worth a dollar in gold.
Seventh. It would be far more advantageous to silver producers than >
increased coinage under existing law, for in both cases bullion would
SILVER.
;
LXXVII
be paid for at its market value, and under the plan proposed a much
larger amount could be used with safety; and while increased coinage
would arouse the fears and encounter the opposition of a'very large and
powerful class of people, it is believed that this measure would meet
with their. acquiescence.
Eighth, There would be no possibility of loss to the liolders of these
notes, because in addition to their full face value in^ bullion they would ^
have behind them the pledged faith of the Government to redeem them
in gold, or its equivalent in silver bullion.
Mnth. The adoption of this policy, and the repeal of the compulsory
coinage act, would quiet public apprehension in regard to the overissue of standard silver dollars, and the present stock could therefore
be safely maintained at par,
j
Tenth. This plan could be tried with perfect safety, and it is believed,
with advantage to all our interests. Should it prove al successful and
satisfactory plan for utilizing silver as money, other nations might find it
to their interest to adopt it, without waiting for an international agreement, and should concerted action be deemed desirable, it could then be
more readily secured.
By this method it is believed that the way would be paved for the
opening of the mints of the world to the free coinage of silver and the
restoration of the former equilibrium of the money-metals.
Possible objections and criticisms.
' I may here conveniently note and answer in brief some of the objections which may be made to this proposition:
First, Possibility of loss to the Government by a further depreciation
in the value of silver bullion.
I
r
This danger is exceedingly remote. On the other hand there is every
reason to believe that a profit to the Government would be realized by
the adoption of this measure. First, from the almost certain rise in the
value of the silver on deposit, which would inure to its advantage ] and
second, from the destruction and permanent loss of notes, which would
never be presented for redemption, the bullion represented by them
then becoming the property of the Government.
{
But even if a loss arise by reason of a further decline in the value
of silver, this would not be a valid objection to the measure proposed, for the reason that the Government, having asspmed control of
the currency of the cphntryj is bounds at whatever dost, to supply ^
LXXVIII
REPORT OF THE SECRETARY OF THE TREASURY.
circulating medium which .is absolutely sound. This duty has been
fully recognized in the case of our legal-tender notes, by the sale of
four and four-and-a-half per cent bonds, amounting to $95,500,000,. in
order to provide- that amount of gold, which now lies in the Treasury^
as a reserve for their redemption. We have already paid out over
$40,000,000 interest on these bonds, as a portion of the, cost of maintaining the outstanding $346,000,000 of United States notes, arid we are
still paying over $4,000,000 a year for that purpose.
Second, It might be suggested that to issue Treasury notes on unlimited deposits,of bullion would place the Government at the mercy
of combinations organized to arbitrarily put up the price of silver for
the purpose of unloading on the Treasury at a fictitious value.
This danger may be averted by giving the Secretary of the
Treasury discretion to suspend temporarily the receipt of silver and
issue of notes in the event of such a combination, and he might be authorized, under proper restrictions, to sell silver, if necessary, retaining
the gold proceeds for the redemption of the notes.
The existence of such authority, even if never exercised,- would prevent the formation of any effectual combination of this kind, for the
reason that a combination to control the silver product of the world
would be very expensive, requiring immense capital, and could not be
successfully undertaken in the face of the power lodged with the Secretary to defeat it.
This method of guarding against combinations and corners would be
far better than the proposition to fix the price at which notes should
be issued, at the average price of silver during any considerable antecedent period of time, as the latter would tend to prevent the normal
rise in value, which is desired and anticipated from the adoption of
this method.
Third. If it be objected to on the ground that it would degrade silver from its position as money, and reduce it to the level of a mere
. commodity, the reply is that silver bullion is now a mere commodity.
This policy would at once give to silver, through its paper representative, the rank and dignity of money in the most convenient and least
expensive way in which it can possibly be utilized. The issue of
notes based on bullion, as proposed, would have the effect of crowning
it with the dignity of money as effectually as could the dies and stamps
of a United States mint. Instead of degrading silver, this plan would
tend to restore it to its former ratio with gold.
Fourth, It might be urged against this plan that it would open a
tempting field for speculation by offering to specul^^tors an opportunity^
SILVER.
j
*LXXIX
when silver had temporarily fallen but was likely to ad^^ance, to withdraw from the Treasury and hold for a rise the silver bullion covered
^
i
by notes; or, when there might be a possibility of .a ;depression, to
deposit it, wait for a fall in price, and jthen have their njotes redeemefd
in an increased quantity of silver.
I
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The answer to this objection is that the danger is by no means great,
but should it prove so, the judicious exercise by the Secretary of the
Treasury of his option tp redeem in gold (either coin, bullion, or certificates), would effectually prevent the successful culmination of such
speculative operations.
Fifth. Unless the amount of silver bullion be limited, may not this
policy result' in ah undue and dangerous increase in the yolume of our
currency'? May we not be flooded with the world^s excess of silver?
Fears of too large a volume of absolutely sound currency are not
entertained to any considerable extent by our people, j The dangers
from such an expansion are not apparent, nor are they ;serious. It is
only inflation from overissue of doubtful or depreciated dollars that
affords substantial grounds for apprehension.
1
As to the objection that we may be flooded with the Iworld^s silver,
the proposed law itself, and the statistics in regard to the present product and the uses of silver, furnish a complete reply. Treasury notes would
only be issued at the average price of silver in the leading financial centers of Europe and thie United StateSj so that there could be no possible
motive for shipping it from abroad. Why should any one pay the cost of
transporting silver from Europe to exchange for our Treasury notes
at the same price it would command in gold at home'? Probably
we should receive some of the surplus product of Mexico; but, as will
be presently shown, the amount would not be dangerOjUsly large. It
would not come from South America, because it wouldj command the
same price in gold in London that it would in notes jin l^ew York,
and nearly all the product of South America goes, in the shape of
miscellaneous ores and base bars, to Europe for economical refining.
As the last objection raised is of vital importance, it may pro^Dcrly
be considered somewhat in detail.
i
The silver product of the world, for the calendar yea:r 1888, was estimated to have been approximately 110,000,000 ounces, divided among
producing countries as follows,
Countries—
United States...
Mexico
South America
Europe
:
Austraha and Japan..,..,.
T0trt....«.o..,,,„.,„
i
1
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.L
Fine ounces.
45, 800, 000
32,000,000
17, 000, 000
10,000,000
5; 200, 000
,,.„,.,„„,.,.,.,„,„„„,,.„,.,,...,„„.„ i„„.,,410, 000, OQQ
LXXX
REPORT OF THE SECRETARY OF THE TREASURY^
The commercial value of the above product, based upon the average
price of silver for the same year (94 cents an ounce), was $103,400,000,
and the coining value $142,000,000.
' It is necessary to use the coining value in, this connection, because it
is proposed to deal with coinages which are usually reported at their
nominal value.
The silver coinages of the world, officially reported to the Director
of the Mint, through our foreign representatives, for the year 1888,
aggregated $149,737,442.
Included in this aggregate are 26,658,964 Mexican dollars, and the
sum of $28,000,000 officially reported as recoinages, that is, domestic or
foreign coins remelted during the year. What amount of old jewelry,
plate, etc., was used for coinage purposes is.iiot known, aside from the
United States.
Deducting the-coinage of Mexican dollars,and the amount of the re-.
coinages, say $54,000^000, leaves the amount of new silver employed
in coinage about $95,000,000,
The new silver used in coinage in 1888 was approximately distributed as follows:
Coinage {less recoinage) 1888.
Countries—
By
By
By
By
the United'States..
India.....
Japan
other countries (principally colonial and subsidiary coinages)
Total
Coining value.
|32,300,000
35,000,000
10, 000, 000
17,700, 000
95,000,000
The product of new silver for the same year was, approximately,
$142,000,000 (coining value), leaving about $47,000,000 of new silver
for use iu'the arts and industries, for Mexican coinage not remelted, and
unaccounted for.
Deducting for recoinages—that is, for domestic and foreign coins used
oyer, say $4,000,000—the value of the new silver used annually in coinage by the United States and India may be placed at $67,000,000.
Since the suspension of silver coinage by the states of the Latin
Union in 1875, the only nations which have executed fuU legal-tender
silver coinages of any considerable value have been the United States
and India. While il3 is true that the mints of Mexico have been open
to the coinage of full legal-tender silver dollars, and that the number
of Mexican dollars coined annually from new bullion amounts to about
$25,000,000, this coinage can not be considered as adding materially
to the world's stock of coin, for the reason that the bulk of the
Me^ic^n dollars coined ^x^ sgou m^lt^d (iQwn and ^sed in other eoinagesj
SILVER.
i .
LXXXI
or absorbed in Asiatic trade. The conversion of bullion into Mexican
dollars is only a convenient way of utilizing it for eastern trade.
The mints of Japan are still open to the coinage of ,fulli legal-tender
silver yens, or dollars, and they coined during the year 1888 over
$8,000,000, and in the year 1887 over $9,000,000 in silver |yens. Some
lull legal-tender coinage is executed annually by Austria-Hungary,
both in silver trade coins (Maria Theresa thalers), for circulation in the
Levant, and silver florin and two-florin pieces for domestic trade, the
value of the former being for the yeae 18.87 about $3,175,000 and for
1888 about $1,100,000, and of the latter about $8,000,00(| in 1887 and
$4,000,000 in 1888.
I
Some full legal-tender silver coinage is executed annually by France
for its possessions in Cochin China and in Africa, and sonde by Holland
for its foreign possessions. With these exceptions, the silver coinages
of the world consist almost exclusively of subsidiary pieces, struck
for change purposes by European and South American countries.
Of the silver coinage of Mexico it would be safe to say that from
$5,000,000 to $10,000,000'remainsannually in existence as coin either
in Mexico or China.
.
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It would be a low estimate to say that at least $10,000,^000 worth of
silver is exported annually to China, Asia aind Africaj exclusive of
any portion which goes into the coinage of British India. |
Soetbeer, the eminent German statistician, in an unpul!)lished article
recently received from him by the Director of the Mint, places the exportation of new silver .annually to Asia and Africa, exclusive of what
goes into Indian coinage, at from 400,000 to 500,000 kilograms, or from
$16,000,000 to $20,000,000. He estimates the amount used annually in
the subsidiary coinages of Europe and American States at from 300,000
to 400,000 kilograms of new silyer, or from $12,000,000 ti'o $16,000,000.
The amount of new silver used annually in the arts aujd industries is
not known even approximately. In this country the consumption is very'
large, approximating $5,000,000 annually. An estimate pf $10,000,000
for the rest of the world is not considered excessive, when the amount
of silver plate, watch cases and jewelry manufactured in France, Great
Britain, Germany, and Switzerland, and the enormous use of silver for
ornaments in India, as reported by v»^riters and travelers,! is considered.
In a table prep'ared by the Director of the Mint, from reports of foreign Governments, as to the value of the precious metals employed
annually in the industrial arts, eleven leading countries, including the
United States, reported a use of $21^ 000^000 in silver, 'this, of course,
FI 89——VI
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LXXXII REPORT OF THE SECRETARY OF THE TREASURY.
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includes coin melted down and old material re-used, as well as new
bullion;
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Soetbeer places the annual consumption of new silver in the indus- '
trial arts at 500,000 kilograms, say $20,0.00,000.
From the above figures the annual product and consumption of silver
may be stated approximately as follows: i ^
Annual product (coining value)
;
Disposition:
• Required "by India
?.
,
Coinage of full legal-tender silver by Austria and Japan (average)...
Required for subsidiary coinages of Europe and South America and
colonial coinages
Amount annually exported to China, Asia and Africa (other than
used in Indian coinage)
Annual coinage of Mexican dollars, °not melted..
Amount used in the arts and manufactures (estimate)
. Surplus product..
Total
,.
|142, 000, 000
35,000,00010, 000, 000
16, 000, 00.0
10, 000, 000
5, 000, 000
15, 000, 000
51,000,000
$142,000,000
From the above it will be seen that the annual surplus product of
silver, which would probably be deposited at the mints of the United
States, approximates $51,000,000 (coining) value, corresponding to
39,445,312 fine ounces, worth, at the present market price of silver,
($0.96) $37,867,500.
'
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At the present price of silver $4,000,000 Avill purchase 4,166,666 fine
ounces, or for the year 50,000,000 fine .ounces, an excess of 10,554,688
fine ounces above the estimated suri3lus.
There is in fapt no known accumulation of silver bullion anj^where
in the world. Germany long since disposed of her stock of melted
silver coins, partly by sale, partly by recoinage into her own new subsidiary coins, and partly by use in coining for Egypt. Only recently it
became necessary to purchase silver for the Egyptian coinage executed
at the mint at Berlin.
It is ^ plain, then, that there is no danger that the silver product of
past years will be iDoured into our mints, unless new steps be taken for
demonetization, and for this improbable contingency ample safeguards
can be i^rovided.
'ISTor need there be any serious apprehension that any considerable
part of the stock of silver coin of Europe would be shipped to the
United States for deposit for Treasury notes.
There is much less reason for shipping coin to this country than bullion, for while the' Je^^iiing nations'of Europe have discpntiiiued tb^
LXXXIII
SILVER.
coinage of full legal-tender silver pieces, they have provicjed by law for
, maintaining their existing stock of silver coins at par. |, '
In England, Portugal, and the states of the Scandinavian Union,
there is no stock of, silver coin except subsidiary coins|, required for
change purposes, the nominal value of which is far in excess of the bullion value. Germany hais in circulation about $100,000,000 in old silver
o, but ten years have passed since the sales of tjullion
b
thalers,
arising
under the anti-silver legislation of 1873 were discontinued. It is safe
to say there is no stock of silyer coin in Europe Avhich is not needed
for business purposes.
\
The states of the Latin Union, and Spain which has a jsiinilar monetary system, are the only countries in Europe which llave any large
stock of silver coins, and the commercial necessities of these countries
are such that they could not afibrd, without serious finatncial distress,
to withdraw from circulation silver coins which are at par with their
gold coins, to deposit them at our mints for payment |of the bullion
value in notes.
,
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The following table exhibits the stock of gold and silvejr in European
banks at a late date, and the notes issued against thein: I
Stock of precious metals in European banks and bank-notes outstanding.
[Compiled from the London Economist.]
Banks.
Gold.
!
Notes in circulation.
. Silver.
t
Bank of England
Bank of France
Imperial Bank of Germany*.
Austro-Hungarian Bank
Netherlands Bank
Bank of Spain*
National Bank of Belgium*..
Bank of Russia
Total....
£19,519,659
51,930,000
26,746,000
5,442,000
5,308,000
4,000,000
2,600,000
30,049,000
.£50,247,
11,000,
16,005,
5,984,
5,"""
1,306,000
2,919,000
145,594,659
93,094, 000
£25,204,740
119,837,000
55,665,000 .
43,642,000
17,725,000
28,966,000
14,168,000
95,142,000
400,349,740
.*Gold and silver not divided, but estimated from best authorities, agreeing substantially.with
the division given by the Commercial and Financial Chronicle and the Financial and Mining
Record.
"
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In view of these facts, there would seem to be no sufficient reason for
limiting the amount of silyer bullion, which may be deposited for
Treasury notes, and there are strong reasons against such limitation.
If deposits were limited to $4,000,000 worth per month, the amount
of silver received might be somewhat smaller than under the proposed
measure, which fixes no limit^ but the difference in the quantity deposited would hardly compensate, in my judgment, for the effect TTMOII
th0 j-estrietioh would Jiave on the silyer mm\^t>,.
LXXXIV REPOKT OF THE SECRETARY OF THS TREASUEY.
Such a restriction would have a decided tendency to prevent the
norma)! rise in price, because it might leave a surplus even of our own
"product, counting that which comes from Mexico to this country, and
the mere fact of there being a limit to the amount that the United
States would receive and issue notes upon, would be a constant menace to the price of silver. Moreover, the limitation to $4,000,000
worth a-month would necessitate a distribution of the amount which
would be received at the different mints of the United States each
month, so that when the full amount of the quota fixed for any one
institution was full, no further deposits could be.received that month,
and the result might be to throw a large stock on the market in such
localities, which, of itself, would have a tendency to dex)ress the price.
If, however, any limitation be thought necessary, it would seem preferable to restrict deposits to the product of our own mines, or the
mines of this continent, or to deposits of new bullion, as distinguished
from foreign coin and foreign melted coin, rather than to limit the
amount to be received to a specific quantity or value.
He is a dull observer of the condition and trend of public sentiment,
in this country2 who does not realize that the continued use of silver
as money, in some form, is certain. I^o measure can be presented to
which it may not be possible to find objections. ' This one is suggested
with a view to promoting the joint use of silver and gold as money,
and with the full confidence that it will secuire all the advantages
hoped for, from any of the plans proposed, without incurring jbheir real
or apprehended dangers.
PRECIOUS METALS.
' Deposits.
The value of the gold deposited at the mints and assay offices,.during
the fiscal year 1889, was $48,900,712.04, of which $6,764,276.28 represents redeposits.
\
^Of the'gold deposited, $31,440,778.93 was the product of our own
mines; $6,583,992:65, foreign coin and bullion; $585,066.87, light
weight domestic coin; and $3,^526,597.31, old^material.
^ The deposits'and purchases of silver aggregated 35,627,273.69
standard ounces, of the coining value of $41,457,190.97. Included
in the above, are 188,237.24 standard ounces, of the coining value of
$2i9,039.68, redeposits..
> ^
, Of. the silver received, 32,895,985.50 standard ounces, of the coining
value of $38;278j964.79,.was classified as domestic product.
;•
.."z • • - • , , .
f .PRECIOUS .METALS. ..
, - ,. • ^ .
.LXXXV
'
Foreign silver buliion-was deposited to the amount of 1; 182,110.97
standard ounces,v of-the coining vajlue of $1,375,547.30, and foreign
silver coin, containing 364,750.71 standard oMces, bf ^the, value of
• $424,437.18;^•^ ; '
', r \-^:",.^'":'-\ \^'^' '\
•• , •,'''^•. •.•.<• ;
Uncurrent subsidiary coins of the United States were melted, containing 431,449,01 standard oiinces, of tfie value of $502,049.75. ',
Trade dollars were melted, containing 6,714.25 standard ounces, of
the coining value of $7,8i2.94, and old silver plate, etc., containing:
568,026.01 standard ounces, of the coining value of $649,339.33: '
.'•,•>_'
••':.,.
Coinage.
.
/ '-;••
The coinage of the mints was as follows:
Gol^....::.................-..^.-...V..i........./........^
^
^
'^". •
•
125, 543, 910 00
: Silver dollars.....^...
...,:.:.....[:........:...
...;....^........
33, 793,860 00
SuMdiary silver...;.^..........;;..^...:..;.......\..........^^
J 2 1 , 686 40
Minor coins.. ...;..;.....'...................^.......
; . . . . . , . , . . . . . . : . . . . . . . . . . . . . . - p 906,473 21/
;
ToM..........;..................^....L.-.....::...!
''•:•-
/•- //
60,965,929 61 •
Gold bars. '
';, .
..
•-•.;. . ^-^'/• •'
In addition to the coinage, gold bars were manufactujred of the value ^
'of $22,241,121.42, and silverbars of the value of $6,709,-246.13, a total
of $28,950;367.55..''. ; ^ './ .:.'.
i '^ : . ; , . ' ' ; ' _ . , : • • ' •'':
Fine gold bars were ex:changed for gold coin, free of charge, principablly'at the assay office'at New York, of the value of $57,5'07,,812.42.
Purchases of ^silver.
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The purchases of silver by the Secretai^y of the Treasury for the
coinage of the silver dollar, aggregated 28,557,109.79 standard ounces,
costing $23,993,-763.47, an average cost of $0.93375 per ounce fine. .. ^
Purchases were also made by superintendents of mints, in lots of less
than 10,000 ounces, aggregating 748,017.72 standard ounces, costing
$630,013.31, while silver, contained in gold deposits and'remnants of ^
bars, was purchased to the amount of 104,718.08 standard ounces,/
costing'$89, (>77.33.' . . : - : '
.•••,:../..• . i
> The total purchases for the silver-dollar coinage during the year aggregated 29,409,845.59 standard - ounces, costing $24,717,853.81, an /
average cost of $0.9338 per ounce fine. ' . ^
The total amount of silver purchased for the coinage of the silver
dollar, from February 28,1878, to November 1,1889, was 299,889,416-11' .
standard ounces^ costing $286,930,633.64, an average cost of $1.0631
per ounce^ fine. The bullion value of the silver dollar, at the average
costfor the whole period, is $0,822.
' %
/ ;
LXXXVI REPORT OF THE SECRETARY OF THE JRJEAgUliY;
^
The|)rofit 6
coinage of silver to the close of the fiscal year 1889
aggregated $57,378,254.18, of which $781,898.88 have been paid for
expenses of distributing the coin and $246,617.73 for reiinbursement of
operative wastage and loss on silver sold in sweeps, leaving a net profit
. of •$56,349,737.57. "
^
'
The price of silver fluctuated during" the fiscal year 1889, from
4 2 | d , the opening price on July 1, 1888, to 44i(^., the highest price on
September 22, 1888, -dosing at 42d on June 30, 1889.
The average price of silver in London during the fiscal year was
42Jd, equivalent at theaverage rate of sight sterling exchange to $0.935
per ounce fine. At this price, the bullion value of the standard silver
dollar is 72 cents.
Farhings and expenditures.
. T h e earnings of the mints from all sources dui^ing the fiscal year,
aggregated $10,351,701.47, while the expenditures and losses of all
M M S aniounted to $1,502,665.60, leaving a net profit of $8;849,035.87.
^
.
^ Imports and exports.
The loss I of the precious metals by nei5 export during the year was:
aoid.......^...,.............................................^......:................^
Silver^:.;:..;...;
, V
Total..,..;...................
,.
12,034,403
...:.....:.........'.........
61,695,504
The export of gold, as well as the net loss of gold, was materially
larger during the last fiscal year than any 3^ear since 1875.
\ The heavy movement of gold from the United States, which commenced i n May, 1888, continued with some interruptions until the end
of July, 1889:
The value of the fine gold bars exported, principally to France,
England tod Grerihany, since May, 1888, aggregated $61,435,989.
This large lossbf gold is attributed to various causes, among which may
be mentioned, first, the unfavorable balance of trade; second, the
high price of exchange on London; third, the high rate of interest by
the Bank of England; and, fourth, the expenditures by Americans in
Europe, principally oh account of the Paris Exposition.
In,the report of the Director of the Mint, will be found an article
treating in detail of this moveSment.
PRECIOUS METALS.
LXXXVII
Product
The mines of the United States yielded, during the calendar y^ar 1888,
precious metals, as follows : ^
Gold:
Fine ounces..t
*..
Value
;
Silver:
Fine ounces...
Commercial value.......
Coining value
.....''
,
-j.
,.,.!
1,604,841
133,175,000
!......[
|
.....[
45,783,632
143,020,000
|59,195, 000
'
The product of gold and silver in the world is jestimated by the
Director of the Mint to have been, for the same year :
Gold
o-. ' ^
^^^^®^":
/Commercial value
•• I Coining value
|........ 1105,994,150
j
10^,556,260
...;..'
142,437,150
.-.
WorWs coinage.
|
The coinage of the world, for the calendar year 1388, so far as reported, was:
Gold
Silver
\
$134, 720, 639
149, 737, 442
:
Deducting recoinages reported, and the coinage of Mexican silver
dollars, the addition to the world's stock of coin during the year was :
Gold
Silver...
$109,161, 426
94,666,108
;
Metallic stocJc.
The stock of gold and silver in the United States is estimated to
have been on ISTovember 1, 1889, $1,115,379,639, of which $684,194,686
consisted of gold coin and bullion; $343,638,001, of standard silver dollars; $76,628,781, of subsidiary silver coins; and $1]0,918,171, of silyer bullion in the mints.
I
\
•
I
Industrial consumption.
The consumption of gold and silver in the industrial arts in the
United States is reported to have been for the last year' approximately,
gold $16,500,000, silver $8,000,000. Of the gold, fibout $3,500,000
represents domestic coin melted; about $3,000,000, old and foreign
material; arid $10,000,000, new gold, the product of our mines.
Of the silver used in the arts, not less than $6,000!. 000 consisted of
new silver.
LXXXVIII REPORT OF THE SECRETARY OF THE TREASURY.
Legislation.
Legislation is recommended looking towards the discontinuance of
the coinage of the three-dollar and one-dollar gold pieces and the threecent nickel'piece. These denominations of coin serve no useful purpose, and there is no demand for them by the business public. The
three-cent nickel piece is so nearly the size and so much resembles' the
ten-cent silver piece that it is frequently mistaken for it.
The report of the Director of the Mint exhibits in detaiLthe operations of the mints and assay offices for the fiscal j^ear, and, in addition
to the precious-metal statistics of the United States, contains valuable
information received through the representatives of this Government
abroad, in regard to the production, coinage, and movement of the
precious metals, in the different countries of the world.
'
^
DEPOSITS OF PUBLIC MONEY.
The monetary transactions of the Government have been conducted
through the Treasurer of the United States, nine sub-treasurers, and
two hundred and ninety-six national-bank depositaries.
The amount of public moneys deposited with national banks on the
1st of January, 1887, was about $20,000,000. Prior to that date, for a
number of years, the average was considerably less. During the j^ear
1887 the amount so deposited increased until, in October, it was
$31,767,478, and, in December, it had swollen to $52,199,917. .The ,
highest point reached was in April, 1888, when the amount so deposited
was $61,921,294, since which time it has decreased until, on the 31st
of October, 1889, it was $47,495,479o There should be a further reduction, at the earliest day practicable, of at least $30,000,000, leaving only
such amounts as are necessary for the business transactions of the Government.
The national-bank depositaries have been, and are, useful auxiliaries
to the sub-treasury system, but the deposit of public funds therewith
to an amount largely in excess of the needs of the public service is
wholly unjustifiable. Such a policy is contrary to the spirit of the act
of August 6, 1846, which contemplates a sub-treasury independent of
the banks.
It necessarily involves temptation to favoritism of the most objectionable character.
It makes the Treasury more or less dependent upon the banks, on
account of the difficult and delicate task of withdrawing the deposits,
when wanted, without creating serious disturbance of financial conditions.
DEPOSITS OF .PUBLIC MONEY.
LXXXIX
It involves the exercise of a most dangerous power jby the Secretary
of the Treasury, whereby he may, if so disposed, expand or contract
the currency at will,' and in the interest of certain favorites whom he
may select.
"
|
It is grossly unjust to the Government to grant tike free use of its
money, while it pays to the very parties thus favored, 4 and 4J per
cent interest on its own bonds, which are pledged as| security for the
money thus received.
•
I
There seems to be no excuse for this policy, when thfe Treasury could
use the same money in the purchase of bonds, and, thereby return it to
circulation and save a large part of the interest.
I
I t is manifestly unfair to the people to give the banks the iise of their
money fOr nothing, while they are required, by the banks, to pay from
6 to 8 per cent, interest for it.
i
Bad as these features of such a policy are, a more 'serious objection
is found in the difficulty and danger encountered in the withdrawal of
such excessive deposits. Money thus deposited goe^ at once into the
channels of trade, and business is adjusted to the increased supply.
A sudden or injudicious withdrawal would be felt farlmore severely by
the large class of business borrowers than by the bank|s. The latter are
money lenders, and a stringency may only increase thieir rates and add
to their profits; while the former, having based their business ventures .
upon the accommodations afforded by the banks, may [be utterly ruined
'when such accommodations are suddenly withdrawn.
Another instance of such excessive deposits occurred in the administration of Jackson. On the 1st of ISTovember, 1836,' the amount of
Government funds deposited in banks was $49,377,986.30. To dispose
of this large sum the act of June 23, 1836, was passed, providing for the
distribution of $37,468,859.97 among the States. This of course made
necessary a withdrawal from the banks, and in order.to make such
withdrawal as easy and saf^ as possible, it was provided that the money
should be distributed in quarterly installments, commencing January 1,
1837. Three of the installments were paid, amounting to $28,101,644.91,
but just after payment of the third, the depositary lianks suspended,
and the terrible financial crisis of 1837 followed.
Had the warnings of history been heeded, the present administration
might have been s&.ved from one of its gravest inherited embarrassments,
for .which it is in no sense responsible.
I
. Of course there is no danger of any such results at this time as occurred in 1837. The amount on deposit then was many times greater,
XC
REPORT OF THE SECRETARY,OF THE TREASURY.
in proportion to the wealth and population of the country, than' it
would be now, while the actual excess at present is only about half as
great as it was then.
•
What would,' under the conditions of 1837, produce wide-spread disastei? and ruin, might, in 1889, produce only temporary disturbance,
stringency, and possible loss.^
A careful and conservative administration of our national finances
should, however, seek to avoid such disturbance if possible.
Finding myself confronted with this inherited difficulty, and though
thoroughly disapproving the policy which created it, I have, nevertheless, felt compelled to move with great caution, lest the cure of the evil
might prove more detrimental to the public interests than the evil il^elf.
It is niy purpose, however, at the.earliest moment deemed practicable, to
commence the withdi-awal of these funds in such limited amounts, and
under such conditions,, as will be least likely to injuriously.affect the
business interests of the country, and, unless Congress shall otherwise
direct, to invest the money in the purchase of bonds, in case they can be
obtained at a fair price.
If the banks which have bonds deposited to secure this money, are inclined to reciprocate the favors they have received from the Govern^ment, by selling them to the Treasury at the liberal rates offered, the
withdraw^al will considerably increase rather than diminish the money
in circulation, and relieve their borrowers from all danger and inconvenience,
o
.
NATIONAL BANKS.
.
'
The report of the Comptroller of the Currency exhibits the operations of the Bureau for the year ending October 31, 1889. During this
period 211 new associations entered the system, an increase of 79 banks
over the i3receding year. The average yearly increase for the past eleven
years has been 159, Forty-one banks went-into voluntary liquidation,
and two failed and were placed in the^hands of receivers. There were
in existence, October 31, 1889, 3,319 national banks, the greatest number since the inauguration of the system, Avith an aggregate capital of
$620,174,365. On the 30th day of September, 1889, the date of the
last reports, the number reporting was 3,290, the remaining twentynine not then.having opened for business. A summary of these reports shows a total capital of $612,584,095, a surplus of $197,394,761;
undivided profits, $84,866,869; gross deposits, including amounts due
banks, $1,950,935,161; loans and discounts, $1,805,729,739; an increase
in each of these particulars over any previous report.
The amount of circulation outstanding was $203,662,732, of which
NATIONAL BANKS.
XCI
$131,383,334 was secuted by pledge of United Statesj bonds, and the
remainder, $72,279,398, was represented by deposit of lawful money in
the Treasury. The banks held $194,972,900 in United States bonds, of
which $146,471,700 were to secure circulating notes ; also $164,326,449'
in specie, $86,752,093 in legal tender notes,.and United States certificates of deposit amounting to $12,945,000. The gross Idecrease in circulation, including the notes of gold banks, duringi the year'was
$37,486,139, and the decrease in circulation secured bv United States
bonds was $22,159,043.
/
j
.' '•
The large number of new banks organized in the western and southwestern sections of the country affords evidence of tlie facility with
which the system adapts itself to the requirements of communities
widely separated, with varied social conditions, and transacting business in accordance with the dissimilar customs that result fi'om our
, climatic and race differences. Texas ranks first in the' number of new
banks organized during the year, Pennsylvania first in number of active
banks, N'ew York in deposits, and Massachusetts in capital.
The banks now derive no profit from their circulation, and an actual
loss is inflicted upon the smaller banks, and upon those located in the
newer sections of the country, by reason of being obliged to purchase
bonds at a high and steadily advancing premium, as a basis for circulation. A change in existing laws is necessary to prevent serious contraction of the currency, by withdrawals from the system.
The remedies proposed by the Comptroller are (1) a reduction in the
minimumof bonds deposited to secure circulation; (2) ^n increase in the
percentage issued thereon in circulating notes; and ($) a reduction of
the tax now levied on circulation. These recommendations are approved.
It is believed that any probable withdrawal of bonds by existing banks will be about equaled by the bonds deposited by new
banks, which would organize more rapidl}^ under the new and more
favorable conditions proposed, and that an increased percentage of
note issues may be depended upon to neutralize the tendencies to
contraction.
Some additional legislation is necessary to enable the Comptroller to
supervise the affairs of banks in voluntary liquidation until all claims
are fully paid, or the assets exhausted. It is recommended that the
office of assistant examiner be created. Also that the detailed reports
of the several bank associations be published semi-annually.' ^•
It is worthy of remark that the= loss to creditors from failure of na-.
tional banks appears to be less than by the failure jof other banking
institutions.
°
- I
XCII'
REPORT OF THE SECRETARY OF THE TREASURY.
The comparative statements, published in the report of the Comptroller, show the operations of the clearing houses of the United States
for October,' 1888, and October, 1889, and a gratifying increase during
the year in total exchanges. It is estimated that the gain accruing to
' the Government by reason,of national-bank notes lost and unredeemed .
is from one-half to 1 per cent, of the total issue.
The transactions of the'year indicate that a fair degree of prosperity
has attended the operations of the associations belonging to the system, and in every department, except that of circulation. In a general way it may be said that, considered as banks of discount and deposit, the associations have successfully met the requirements of the
communities where they are located, and have contributed their
proper share to the general prosperity which has resulted from the
activities of the year.
IMMIGRATION.
-
By act of August 3^ 1882, the Secretary of the Treasury is charged
with the sujDervision of immigration into the United States, and is empowered to contract for that purpdse with State commissions, boards,
or officers charged with the local affairs of immigration at any port.
Contracts were accordingly made and are now in force with the State
immigrant commission at Portlandj Me., Boston, 'New York, Philadelphia, Baltimore, Key West, JSTew Orleans, Galveston, and San Francisco. At other points where immigrants arrive there were no State
immigrant officials, and the enforcement of the law was committed to
collectors of customs, aided in some cases by immigrant inspectors appointed uiider the alien contract-labor law. Experience has disclosed
grave difficulties iii the execution of the law through State agencies, as
they are not subject to the exclusive official control of the Secretary of
the Treasury.
^,
Disputes have arisen as to the respective jurisdictions of national and
, State authorities, as have also serious differences in the settlement of
of the accounts of certain State commissions, which were extraordinary
. and in excess of accounts for like service and expenses at other ports.
These difficulties would be obviated if the entire business relating to
immigration were assumed by the General Government, and such action
is recommended.
I t has been found difficult to make the examination so"thorough as
to detect all who. are included in the prohibited classes, especially at
the larger ports, where vessels arrive crowded with immigrants all
eager to land.
But a more serious difficulty, in the satisfactory administration of
XCIII
IMMIGRATION.
the law, is found in the facility with which prohibited persons may
enter the United States from the British provinces and "Mexico.
From l^ovember, 1888, to April,, 1889, inclusive, tweaty-eight British
steamships landed 1,304 immigrants at Portland, Me., but they previously touched at Halifax, and landed more than three times that number, most of whom, it is reported, came by rail through Canada, into
the United States without examination or restriction,! and the steamships thereby escaped the payment of the passenger tax. Such unrestricted influx of immigrants has, it is believed, resulted in a large
addition to the number of those who require public aid, and thus increased the financial, burden of the States and municipalities where
they chance to fall into distress.
The law now prohibits the landing of any convict, lunatic, idiot, or
any i3erson unable to take care of himself or herself Without becoming
a public charge. To these prohibitions should be a'dded all persons
affiicted with leprosy, or similar destructive and contagious > diseases,
and all persons inimical to our social and political institutions.It would .seem that one of the effective means of preyenting the immigration of the prohibited classes would be to requii e all immigrants
before embarkation to obtain certificates of character and fitness from
our consular officers abroad, under regulations to be prescribed by the
Secretary df State. Such a provision would, doubtless prove of value
in securing the objects of the law, and would probably tend to simplify
and lessen the labors of the local officers charged with its execution.
Receipts of capitation tax and the expenditures on account of immigration at the different
ports for the fiscal year ending June 30, 1889.
Ports.
Baltimore, Md
Boston, Mass
Barnstable, Mass
Charleston, S. C . . .
Galveston, Tex
Jacksonville, Fla
Key West, Fla
New Bedford, Mass
New Berne*, N. C
New Haven, Conn
New Orleans, La
New York, N. Y
Philadelphia, P a
Portland, Me
Portland, Oreg;
Providence, R. 1
Pensacola. Fla
Port Townsend. Wash .
San Francisco, Cal
ShieldSborou^ii, Miss...
St. Johns, Fla,
Wilmington, Bel
Receipts.
fl4, 917 00
17,"818 50
32 00
2'00
30 50,
3 50
711 50
306 00
'50
2 00
050 50
176. 763 50
,1.4,107 00
654 00
30 50
1 50
27 00
9 50
,764 50
1 50
1 00
2 QQ
236,242 00
Net balance to the credit of the fund
.j
Expenditures.
$8,366 92
21,832 05
1,807 30
1,673
168,544
0,709
321
55
04
87
28
2,020 50
214,875 51
$21, 366 49
XCIV
REPORT OF THE SECRETARY OF THE TREASURY.
Number of immigrants examiiied by the commissioners of immigration at'the several ports
named, and the numher returned to the countries ivhence they came, during the year ending
./me 30, 1889.
•
"
'
'''
Number examined.
4i
Number returned.
•"
Ports.
in
1
2
Baltimore
Gralveston.
ICey W e s t
N e w Orleans
New York...
•Portland Me
Philadelphia....
San Francisco
Total
14,733
15,133
19,396
16,438
3
37'
1,406
3,164
.1,004
3; 081
.186,344 118,338
•977
. 327'
J5,724
12,019
1,376
12,817
256,673
165,644
Liable to
become
public
charge.
•
«5 •
Is
.
Cv!
">
ci
.
.5
^2J
29,866
35,834
73
. 4,570
4,885
304,682
1,304
2
27,745
14,193
.2
.'3
M
Is
II
21
82
5
1
'
21
88
33
35,
422,352
3
10
10
. 24
29
3
3
V
2
4
494
6
124
8
533
6
128
8
7
738
3
787
THE ALIEN CONTRACT-LABOR LAW.
The chief purpose of this law was the protection of our own laborers
by restricting the importation and immigration of foreigners under contracts to labor. ,To aid in its execution, immigrant inspectors have
been stationed at the principal ports, and at important points on our
Canadian and Mexican frontiers. They have rendered effective service, and a considerable number of this prohibited class of laborers have
been returned to the country from whence they came.
The law undoubtedly is often" evaded by the landing of European
contract laborers in foreign territory contiguous to our own, whence
they, as well as contract laborers whose homes are in such contiguous
country, find ready access to the United States by railroads and other
mean^ of transportation.
'
^
The execution of the law is also impeded by the difficulty of obtaining legal proof of the contract under which these people seek admission
into the country. It is believed that, as it stands, ii has partially failed of
its purpose,, because of certain inherent defects, and the impracticability
of its administration in some of its features that call for amendment.
It is doubtful if the amendment of October 19,1888, provides due process of law for the taking into custody, and the returning to the country
from whence he came, of a prohibited person who I has been permitted to
land, or for the recovery of the expense of his return. ISTeither, is it obvious what good reason applies to the admission into the country of professional actors, artists, lecturers, and singers under contract, that does
not apply with equal force to ministers of the Gospel, scientific nien,
and professors in collegers, whose right to like admission is questioned
or denied.
'
,
'
By the t^j^ios of the law people living in tb^ mm^ tomiet ox eom-
ALIEN CONTRACT L A B O R T — C H I N E S E
EXCLUSION.
XCV
munity are forbidden the ordinary contract relations df daily life and.
necessary business transactions, because they hax)pen to jlive on opposite'
sides of the national boundary-line. The wisdom or [necessity of the
law in this regard is not apparent,'^and its enforcement is manifestly impracticable.
I
Complaint is made of the hardships of the law in ,base of citizens
of Canada and Mexico, who are employed on foreign ralilroads entering
the United States. Their employment as civil engineers,»superintendents, conductors, and brakemen, locomotive engineers and firemen, traveling auditors, and in other capacities, calls them, more or
less frequently, sometimes daily/into the United States, and it is •
claimed they thus become amenable to the law.
The attention of Congress is invited to the subject as worthy of consideration.
CHINESE EXCLUSION ACT.
The existing laws for the exclusion of Chinese laborers from the
United States have been vigorously enforced by the officers of the cus- •
toms to the extent of their ability, but the extensive frontiers of the
Union facilitate the clandestine introduction of such persons from the
contiguous territory of British America and Mexico.
° .
It is alleged that evasions of the law in this regard are' of a serious
character. . The Department is employing the limited means at command to prevent such evasions, but to police these frontiers in such a
manner as to completely suppress the influx of prohibi|3ed immigration
will requke a much greater force than has been profvided for. The
attention of Congress is invited to this subject.
The results of the practice of landing Chinese immigrants at the
Pacific coast ports under bond, and by means ot the process of habeas
corpus, have been such as to attract the attention of the local officers
of the customs at those ports, and to awaken their' solicitude^for the
integrity of the law. It is scarcely an exaggeration to say that a lucrative though illicit industry has sprung up in those ports, based upon
an abuse of the machinery of justice, whereby, and by means Of bribery,
perjury, the stimulant of exorbitant fees, and other forms of deception
and fraud, Chinese laborers are given the character of lawful immigrants, and are, thus illegall}^ added to the population of the country.
Conformably to an opinion of the Attorney-General that the transit
of Chinese laborers from one foreign place to another, through the territory oi the United States, is permitted under the statute, the regulations
heretofore governing such transit have been continued, but have been
strengthened in various particulars to prevejxt theij* i?Qoyersioii to nnlawful purposes.
XCVI
REPORT OF THE, SECRETARY OF THE TREASURY,
;
INTERNAL REVENUE.
The report pf the Commissioner qf Internal Eevenue, herewith transmitted, presents in detail the condition of this branch of the public
serviced
The receipts from the several subjects of taxation under the internalrevenue laws during the fiscal years ended June 30, 1888 and 1889, are
as follows:
F i s c a l y e a r e n d e d J u n e 30—
O b j e c t s of t a x a t i o n .
Increase.
1888.
D i s t i l l e d spirits...*.
Manufactured tobacco
Fermented liquors
B a n k circulation
Collections u n d e r repealed laws
Total......!
$69,306,166
30,662,431
23,324", 218
864,139
4,202
155,547
9,768
Decrease.
1889.
41
52
48
88
55
61
87
$74,312,206 33
31,866,860-42
23,723,835 26
894,247 91
6,213 91
84,991 89
6,078 48
."..... 124,326,475 32
130,894,434 20
$5,006,039
1,204,428
399,616
30,108
2,Oil
9290
78
03
36
$70,555 72
3 690 39
6,567,958 88
•
These figures show that the increase of revenue during the last fiscal
year from distilled spirits was $5,006,039.92; from manufactured tobacco,
including snuff, cigars, cigarettes, etc., $1,204,428.90; from fermented
liquors, 1399,616.78; from oleomargarine, $30,108.03, and from unau:
thorized circulation of notes of towns, cities, or municipal corporations
paid but, $2,011.36; while there was a decrease in the amount of penalties collected of $70,555.72, and of collections of back taxes under repealed laws of $3,690.39.
^
^
Taxes are not always deposited during the years in which they are
collected. This fact accounts for the slight discrepancy between the
aggregate collections for the two years, as reported in the foregoing
table, and the amounts covered into the Treasury by warrants during
the sanie years.
The Commissioner renews the recommendation made in previous reports for the taxation of fractions of gallons of distilled spirits. The
experience of his office has demonstrated conclusively that distillers
are disposed to draw off spirits at such strength of proof as to make
their packages contain constantly a large and often the largest possible
untaxed fraction, a taxable fraction of a gallon occurring only by some
mischance. In the ascertainment of the contents of a package of distilled spirits which are either exactly at proof, as defined in section
3249, Eevised Statutes, or below proof, no fraction occurs other than onehalf of a gallon,' but when the spirits are above proof the calculation of
the proof gallons may result in a final fraction of any size. In the
computation and collection of the tax the law provides only for the
INTERNAL-RE VENUE—ALASKA.
I
XCVII
taxing of even gallons, the fraction either being dropped or treated as
a whole gallon, as it falls below or increases beyond a half gallon, doubtless upon the consideration that the sum of the fractions thus dropped
and added would be, on an average, about the same. But the advantages thus derived by distillers has not been sufficient to satisfy niany
of them, and it is sought to be increased by warehousing spirits in
packages smaller than barrels, so as to double and even quadruple the
untaxed fraction of less than a half of a proof gallon, i
The loss to the revenue by this adroit manipulation of packages
amounts each year to a large sum, and gives rise to much discontent
on the part of those distillers of fine whisky whose product liea three
years in bonded warehouses, and who are therefore unable to utilize this
expedient for evading the payment of a portion of the tax. In view
of all the facts the recommendation of the Commissioner is approved.
The Commissioner reports that the number of revenue agents he is
now authorized to employ is inadequate to the needs of the service, and
I recommend that five additional agents be authorized.
ALASKA.
The rapid development of the Territory of Alaska in population and
trade appears not to have been foreseen by those in authority,, and in
consequence the customs legislation applicable to that collection district
is found to be inadequate and unsuited to present need^. This condition is a misfortune to the i3ublic interest and a hardship to the enterprising people who, amid difficulty and discouragement, are adding
the resources of a vast and promising domain to the aggregate wealth
of the nation.
The present volume of trade is not less than $10,000,000 per annum,
and is constantly growing. This Territory, still in its infancy, has
begun to attract attention as a promising field for the investment of
capital, skilly and energy. It has also become a popular resort for
tourists, many of whom become interested in its industries. In .1884,
when the Territor^^ wag organized into a civil and judicial district, one
steamer a month ran to the principal port of Sitka; now there are four
and sometimes five per month during the summer, and a considerable
numl^er of sail-vessels. In southeastern Alaska there is a large coastwise trade, coxisisting principally in the products of the salmon industry, fish-oils, furs, mineral ores, and the precious metals.
Sitka, the only legal port, is nearly 500 miles distant from Dixon
Entrance, the exterior boundary channel through which the trade of
the southeastern peninsula is conducted. It does not appear practicaFI 89VII
XCVIII REPORT OF THE SECRETARY OF THE TREASURY.
'
' ^
•
'
'
'
,
•
'
ble to protect the revenue or reasonably accommodate public interests
without q port of delivery near the boundary channel. Mary Island
has been '^favorably mentioned as a site for such a port by navigators,
traders, and officers of the revenue. Appropriations are needed for
the construction of the necessary custom-house buildings to answer
immediate needs, and also for a light-house and fog-signal on the island,
as. the only present aids to navigation are the topographical features of'
the country, which have not proved available to prevent serious loss to
shipping. This accommodation i s needed on public grounds, in order
that vessels may receive permission to land passengers and cargo at
the several shipping-stations on their way to Sitka. I am also advised that Wrangel, Juneau, Sand Point, "Kodiak, and Oiinalaska,
should be constituted ports of delivery with deputy collectors clothed
with appropriate powers. In 1869 the Secretary of the Treasury
authorized deputy collectors to be stationed at some of these places
with instructions to enter and clear vessels and receive duties and fees.
This action was without authority of law, and the trade of the Territory
has become too important to rest upon a doubtful footing as to' legality.
It is desirable that early steps be taken for laying off and reserving
sites in Alaska, for light-houses* and other public structures, to prevent;
future trouble and expense by reason of the occupation of the necessary
sites by ^settlers.
It has been found impracticable to give any appreciative effect to the
laws and regulations forbidding the introduction of spirituous liquors
into the Territory. Such public sentiment as exists there is adverse to
]3rohibition, and the Executive is Avithout means to enforce the law
over so large and difficult an area. The traffic in spirits is free and
open, and the consequences to the natives most deplorable. The subject
is one of such notoriety that it is only'necessary to remind Congress
that there has been no amelioration of the particularly grievous condition of the natives in the Aleutian Islands. The wisdom of extending
the laws and administrative agencies relating to the Indian service
over Alaska is worthy of attention.
Seal islands.
The lease now held by the Alaska Commercial Company, of the ex' clusiveright to take fur-seals on the islands of St. Paul and St. George,
in Behring Sea, expires on the 1st day of May next. By the provisions of sections^ 1963 to 1967, 'Eevised Statutes, the Secretary of the
Treasury is required to lease to proper and responsible parties, for
the best advantage of the United States, having due regard for the
ALASKA.
XCIX
interests of the Government, the native inhabitants, their comfort,
.maintenance, and education, the right of taking furjseals on the
islands named, and of sending vessels thereto for the skins-so taken,
for the term of twenty years, at an annual rental of not less than
$50,000, and a revenue-tax of $2 upon each fur-seal skin taken during the continuance of the lease. These provisions impose a large
measure of responsibility upon the Secretary, and the official record
of legislative proceedings in the last preceding sessioh of Congress
indicates that it is the will of that body that such discretion should
remain as originally provided in the statute.
I
The present lessees of the seal islands pay an anriual rental of
$55,000 and a combined revenue tax and royalty of $2.|62J per skin, ,
and an experience of twenty years has "shown the capjability of the
leasing system, when faithfully administered, to respond to the various
public interests concerned.
I
The Pribylov Islands are now the only important sources of supply
for merchantable seal-skins. The herd which makes those islands its ^
home is variously estimated to number from four to six millions of ,
seals, but the Treasury agents on duty at the islands have begun to note
an apparent decrease in the number of seals resorting to the islands in
the breeding season. It is much to be desired that any such decrease
is but temporary, for should the Pribylov herd disappear, there, is none
to replace it. It is estimated that upwards of 200,000 seals were killed
by unauthorized sealing vessels during the breeding seasons of 1888
and 1889, and as the great majority of these were cows, there was an
almost equal loss of pup-seals. It is obvious that the herd must soon
disappear under such a decimation of its productive members, even if
the habitual use of fire-arms did not tend to drive the seals away from
their haunts in advance of their extermination.
|
The act of March 2, 1889, confers a|ll the needed authority upon the
Executive to protect the seals within the waters of the United States,
but an appropriation is necessary to provide effective means for exercising that authority. There-are not enough revenue |cutters at the.
disposal of the Department to properly police the sealing-grounds
during the dense fogs that prevail throughout the breeding season, and .
the great number of petty vessels engaged in marauding would render
it impossible for their captors to furnish prize crews to talke them all to
Sitka for condemnation. The present state and prospects of the in- .
dustry seem to call for prompt and energetic measures to preserve
the valuable Pribylov herd from destruction or dispersion. It is
suggested that a sufficient force of cruising vessels should be chart-
C
R E P O R T OF THE
SECRETARY
OF THE
TREASURY.
ered, equipped, and manned, as auxiliary to such revenue vessels as
could be spared from stations, and a depot for prisoners established at
Ounalaska, whence they could be transferred to Sitka, and dealt with
according to law. It is believed that two or three seasons of energetic effort would break up the present destructive and threatening
operations.
REVENUE MARINE.
" !
The expenses of the revenue-cutter service were $965,500 during the
fiscal year, of which $67,000 were spent in repairs to six of the vessels,
and $10,500 for anchorage duty. Thirty-seven vessels were in commission during the year. The cruising record showfs a decrease in the
aggregate number of miles traveled, which is due to the necessity of
totally withdrawing some worn-out vessels and laying up others for
repairs. Two new vessels are under construction, and six others are
much needed for service at Boston, New York, Philadelphia, Galveston,
San Francisco, and Astoria; such vessels to be of moderate size and
cost.
During the summer the revenue steamer Bear, aided by the
naval steamer Thetis, established the prescribed refuge for seamen at
Point Barrow, on the northern extremity of Alaska. The house is a
strong and warm structure, with a comfortable accommodation and
equipment for seventy-two persons, including an ample supply df
provisions, fuel, and medical stores. The cost of this refuge and
equipment has been $12,201.38, leaving a balance of $2,898.62, applicable to the pay of the keeper and his two assistants.
Conformably to the act of May 16, 1888, anchorage-grounds were
established and regulations prescribed for the bay and harbor of New
York. The revenue steamer Manhattan was assigned to the duty of
enforcing the anchorage regulations. Within the six months ending
with the fiscal year 1,328 vessels were found improperly anchored,
whereof 948 were towed to a proper anchorage, and the others removed
upon notice.
Pursuant to the purpose of the proclamation of the President,/warnng all persons- against the violation of existing laws for the protection
of seal-life in the waters of ; Behring Sea, the revenue steamer Bush
was directed to aid their enforcement, and began her cruise in those
waters on June 24, which lasted until the 25th of the following August.
During the cruise seventeen suspected vessels were boarded and
searched. The British schooners BlacJc Diamond, Minnie, Pathfinder,
Juanita, and Lillie, and the American schooner James G. Swan, were found
to have violated the law against sealing in-the waters of Alaska, and, with
REVENUE-MARINE—LIGHT-HOUSE.
CI
the arms on board and 2,472 seal-skins, were seized, and the arms and
. skins being rehioved, the vessels were ordered to repair to Sitka for
judicial proceedings. These orders were disregarded jby the masters
of the several vessels, who took them to their home ports.
During her visit to the Arctic the steamer Bear rendered material assistance to sundry whaling vessels, and on her return cruise brought
to Sitka' four seamen and five miners found dangerously sick. Thfe
customary aid was rendered during the year by the revenue cutters to
the Life-Saving Service, a distance of 7,713 miles having been cruised
in the performance of this special duty. In the month of September
the revenue cutter Rush, on her voyage from Behring | Sea, coasted in
search of the, disabled schooner J.Zjp/ia,.and finding her at' Yakutat Bay,
took off her crew and passengers, numbering twentj^j-three persons,
whom she landed at Sitka.
The thirty-seven vessels, heretofore mentioned as in commission during the year, cruised 274,287'nautical miles ; boarded 22,893 vessels, of
which 1,127 found violating the law incurred penalties aggregating
$445,196.70. A total of 122 distressed vessels werej assisted, their
value with that of theii cargoes amounting upwardsl of $2,500,000.
Twenty-six persons were rescued from drowning, and! 1,021 persons
were on the distressed vessels assisted.
The personnel of the service consists in 220 commissioned officers, 27
pilots, and 815 seamen.
|
'
LIGHT-HOUSE SERVICE.
During the past fiscal year one hundred and fifty-one new lights were
established and two discontinued. There has also been a material increase in the nuniber and distribution of other aids to navigation. The
estimates call for a considerable increase upon current alppropriations,
and if Congress should not deem it advisable to grant the full amount,
it is hoped,that the reduction will fall upon contempliated new works
rather than that the maintenance of existing works should be impaired.
The great storms prevalent during the year have fallen heavily upon
the Light-House Establishment, and the call for new| light-ships and
light-house tenders is ah imperative one.
Legislation is needed to prescribe penalties for violation of the regulations for lighting bridges over navigable waters, and to authorize
the establishment of inexpensive lighted, in addition to the provision
for unlighted, beacons.
CII
REPORT OF THE
SECRETARY OF THE
TREASURY.
MARINE-HOSPITAL SERVICE.
•
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.
•
^
This service, originally established for the care of sick and disabled
seamen and the hygiene of merchant vessels, has become additionally
charged with important duties relative to the public health. During
the fiscal year nearly 50,000 sick and disabled seamen were relieved
,at eighteen marine hospitals and two hundred and ten relief stations.
Physical examinations were held of merchant seamen prior to shipment, of pilots, inclusive of tests for color-blindness, of surfmen for
the Life-Saving Service, and of officers for the Eevenue Marine.
For the safe guarding of the public health, seven national quarantine stations are in operation, besides hygienic laboratories for inyestigation of the causes and treatment of epidemic diseases, and a periodical bulletin is published, circulating information relative to the
appearance and movement of epidemics. There has likewise been
much inland administration of a sanitary chai:acter, particularly in
connection with the recent epidemic of yellow fever in Florida.
The expenditures during the fiscal year for the Marine-Hospital
Service were $540,134.53, and $246,995 were expended for preventing
the spread of epidemic disease.
In his accompanying report, the Supervising Surgeon-General asks
for a small addition to the clerical force of his office, and for the repeal
of the statutory restriction upon the assignment of officers to duty at
Washington, and these recommendations are approved.
STEAMBOAT-INSPECTION SERVICE.
The cost of this service was $256,994.36 for the fiscal year, a slight
decrease from the expanse of the previous year. During the past
fifteen years there has been a gain of 73 per cent, in the number of
domestic steam-vessels, and an increase of 27 per cent, in the cost of
inspection. The loss of life on steam-vessels has been reduced 54 per
.cent.
It is recommended that all laws be repealed which provide a separate
establishment for the inspection of foreign steam-vessels, and that the
anspectors of domestic steam-vessels be authorized and required to perform all necessary services in connection with the inspection of foreign
steamships.
-The offices proposed for abolition are virtually sinecures, and much
sought after^in consequence, and until they are abolished the Executive
will remain subjected to importunity to fill them. The services of
three of these officers have been dispensed with.
LIFE-SAVING-^COAST
AND GEODETIC
SURVEY.
CIII
Existing statutes fix different rates of pay for the inspecting officers
at the several ports, and the present result is gre^t inequality and injustice. ' It is advised that the Department be authorized to newly rate
the salaries within the limits of the appropriation for the service. ' . .
LIFE-SAVING, SERVICE.
I
The statistics of the Life-Saving Service continue to show, as they
have long done, the admirable character of an institution that Congress
created and has maintained on a liberal scale. The humane work of
the service during the past fiscal year embraces the rescue from peril
of 3,106 lives.
. [,
.
In addition to this, property exceeding in value the sum of $5,000,000
was saved from destruction. Among the additions of the year to the
facilities of the service have been three new stations, with seven others
still under construction, making in all two hundred and thirty-two
stations.
The compensation to surfmen of $50 per month when employed upon
such perilous duty is inadequate at some of the stations, and it is advised that the Secretary of the Treasury be authorized tp adjust the pay
of these employes at their several stations according to the equities of
the case. The particulars of the operations of this branch of the service are contained in the. report of the General Superintendent.
COAST AND GEODETIC SURVEY.
The SuxDerintendent of this service being required tjy law to report
annually and directly to Congress, reference is to be nad to his report
for a statement of the size, distribution, employment, land cost of the
staff, and of the expense of the service at large.
An increase of expedition, issue, and demand is to be noted in the
publication work of the bureau, which has embraced 49 new charts, 22
revised editions of old charts, 13 notices to mariners, 7 miscellaneous
bulletins, a collection of tide tables, and sundry editions of the Atlalitic
and Pacific Coast Pilots. Field-work in triangulation [for deterniining
the topography of the country has been done in thirty-three of the
States and Territories, and hydrographic work in seventeen States and
Territories.
The N^iYj Department has been assisted in selectingi navy-yard sites
in the Gulf of Mexico and on the South Atlantic coast and ^ o r t h
Pacific coast of the United States. Progress has been made in the
triangulations to connec|b witM the work of the ISTortheastern Boundary
Survey and that of the Dominion of Canada. The work for a pro-
CIV
REPORT OF THE SECRETARY' OF THE TREASURY.
visional determination of the Alaskan and British Columbian boundary
has been entered upon. A survey, with examination of the oystergrounds' of North Carolina, has been made at the request of the governor of that State, and there has been co-operation with sundry State
geographical and geological surveys.
The report will show the operations and appliances for securing
greater accuracy in the standards of weight and measure, and in the
establishment of a true ratio between the statutory and metrical
standards of length.
The United States, upon'the invitation of the German Government,
has become a member of the International Geodetic Association, and
will be represented at its approaching meeting. The growing work of
the service 'calls for more office accommodation at the seat of Government.
'.
ENGRAVING AND PRINTING.
Congress having by successive acts prohibited an increase in the
number of steam plate-printing machines, or the repair or reconstruction of the same, or the payment of a higher or further royalty than
one cent per thousand impressions, it was deemed best to discontinue
the use of such machines in. the Bureau of Engraving and Printing
after the close of the fiscal year. The press-work is now all done By
hand-presses, in a satisfactory manner, and the estimates for the approaching fiscal year have been made upon the assumption that steampresses are not again to be used.
PUBLIC BUILDINGS.
"
There are under the control of the office of the Supervising Architect of this Department 229 completed and occupied buildings to be
cared for from the annual appropriations for ^'Eepairs and Preservation,'^ ^^Vaults, Safes, and Locks,'' and repairs to ^^Heating Apparatus."
During the past year, work of construction and repairs, specially
appropriated for, have been prosecuted upon 81 buildings, of which
number 25 have been completed.
The total expenditure during the year for sites, construction of new
buildings,' and repairs, specially appropriated for aggregates
$4, 773, 322 88
For repairs and preservation of completed buildings
182^ 058. 02
For heating apparatus for new public buildings...:
16,106 54
For repairs, heating apparatus in completed buildings.
67, 035 01
For vaults, safes, and locks
55,449 37
For photographic dupilication of plans for public buildings
4, 433 91'
Thus making a total expenditure during the year ol
5, 098, 405 73
PUBLIC B U I L D I N G S — D I S T R I C T
OJ^ COLUMBIA.
CV
I invite attention to the recommendations of the Supervising
Architect as to the method of selecting sites for public buildings.
TherOvseems to be no good reason why this duty should be devolved
upon the Secretary of the Treasury. Its execution causes much interruption to the business of the Department in the prolonged hearings
Of parties interested, and it is quite impossible for the Secretary to make
as satisfactory selections as could be made by a commission. I therefore concur in his recommendations that in future appropriations for
the purchase of sites Congress authorize the appointment of commissions' to examine all matters, connected with proposals received, and
to repol't their decisions, which shall be final, to the jSecretary of the
Treasury. I also concur in his recommendations that increased accommodations be provided for the engineering and draughting division
of his office. The present accommodations are entirely inadequate.
DISTRICT OF COLUMBIA.
The net expenditures oii account of the District of Columbia for the
fiscal year .1889 were $5,248,669.92. The revenues iieposited in the
Treasury on this account for the same period were $2,523,950.69.
There have been issued'during the fiscal year 1889 $24,000 of the 3.65
per cent, bonds in payment of judgments of the Court of Claims against
the District. There have been retired by the operations of the sinkingfund during the same period $463,400 of the bonded indebtedness of the
District, making a net reduction of $439,400, and reducing the annual
interest charge $27,641.
I
When the duties of the late commissioners of the sinking-fund were
assumed by the Treasurer of the United States on jkily 1, 1878, the
bonded debt amounted to $22,106,650, which has since been increased
$917,500 by the issue of 3.65 per cent, bonds in exchange for certificates
of the board of audit and in payment for judgments of the Court of
Claims.'' There have also been issued $1,092,300 twentyi-year 5-per-cent.
funding bonds to replace maturing bonded indebtedness. The bonds
retired during the same period amounted to $3,974,40d.
The bonded debt July 1, 1889, was $20,142,050, showing a net reduction of $1,964,600, and a reduction in the annual interest charge of
$137,157.72since July-4, 1878. •
• ^
•'
/'
The total issue of the 3.65 per cent, bonds to the close of the fiscal
year 1889 was $14,660,750.
' ,
I
Of the bonded indebtedness of the District, $3,330,550 will be payable in 1891, and $949,300 in 1892. As all of these maturing bonds
bear 6 or 7 per cent, interest, provision should be made to refund, them
CVI
REPORT OF THE SECRETARY OF THE TREASURY.
at a lower rate, and attention is invited to the plan submitted in the
Treasurer's annual report on the sinking-fund. . ' •
The amount realized from the sale of bonds in which the retentions
from contractors with the District of Columbia were invested, exceeds
the sum necessary to pay the amounts originally withheld.
The net surplus at the close of the fiscal year 1889 was $29,551.23,
which has been deposited in the Treasury as a "miscellaneous receipt to,
the credit of the United 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 of the United States, ex officio Commissioner of the sinking-fund of the District.
CIVIL SERVICE.
It is my belief that the personnel and efficiency of the service have
been in no way lowered by the. present method of appointments to
clerical positions in the Department. The beneficial influences of the
civil-service law in its practical workings are clearly apparent. Having been at the head of the Department both before and after its.adoption, I am able to judge by comparison of the two systems, and have
no hesitation in pronouncing the present condition of affairs as preferable in all respects. Under the old plan appointments were usually
made to please some one under political or other obligations to the appointee, and the question of fitness was not always the contrplling one.
The temptation to make renaovals, only to provide places for others,
was always present and constantly being urged by strong influences,
and this restless and feverish condition of departmental life did much
to distract and disturb the even current of routine work. Under instrumentalities which are now used to secure selections for clerical
places^ the Department has some assurance of/mental capacity, and also,
of moral worth, as the character of the candidates is ascertained before
examination.
The manifold duties of the Department require the closest application on the part of the Secretary and his assistants, and the freedom
from importunity now enjoyed for appointments to places that are
within the classified service, and the saving of valuable time heretofore devoted to the distribution of minor patronage, are of very great
advantage, and enables these officers to devote more thought to the imIDortant questions of administration constantly arising. The clerks
received from the Civil-Service Commission usually adapt themselves
CIVIL SERVICE.
evil
readily to the duties they are called upon to perform,! and rank among
the most efficient in the Department.
!
' This Department has for the pd^st twenty years conducted examinations, under its own regulations, for promotions in its service, and
emploj^^s have been advanced from one grade to ithe next highest
only after having passed a standard e;xaminatibn intended to demonstrate their capability as compared with those who have already reached
the higher grades, and to test their familiarity with, and proficiency in,
the special work upon which they have been engaged. This system of
promotion has worked satisfactorily, and reaches beyond the ascertainment of individual excellence. Clerks have the fact!constantly before
them that to gratify a laudable ambition for advancement they must
al\i^ays be prepared, as the opportunity for promotion may conae at
anytime, to submit to tests which will disclose their aptitude, their
diligence, and their knowledge of the class of work they have been
performing. It keeps the service in better form and relieves the appointing power of much persistent persuasion from outside sources to
elevate clerks who are illy prepared to fill the higher grades. I take
pleasure in referring in this connection to a detailed statement of the
examiner, which will be found in the appendix to this report. Among
the few positions in the Department excepted from the oi^eration of
the civil-service law are the special agents, whose duties are very
iihportant and require abilities of a superior order. It has therefore
been thought best before appointment to subject the selected applicant
to a* test of his fitness for the place, and this has been done during the
past few months with excellent results. Theadvisability of pursuing
the same course with chiefs of divisions is having seripus consideration
at this time.
The several reports of the heads of offices and bureaus are herewith
transmitted.
WILLIAM W m D O M ,
Secretary of the Treasury.
The Honorable
T H E SPEAKER OF THE H O U S E OF EEPRESEISTTATIVES.
TABLES ACCOMPANYING THE REPORT ON TH E FINANCES.
T A B L E A.—STATEMENT OV 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 OF T H E U N I T E D STATES, J U N E 30,
Length of
loan.
When redeemable.
authorRate of in- atPrice
which Amount
Amount issued
ized.
terest.
sold.
On demand .
5 and 6 per
cent.
Indefinite .
Jo of 1 to 6
•per cent.
$51, 000, 000.00
x^Tj of 1 to 51
per cent.
10, 000, 000. 00
1889.
Amount outstanding.
OLD DEBT.
For detailed information in regard to the earlier loans enabraced under
this head, see Finance Report for 1876,
$151,920.26
c^
TREASUEY NOTES PRIOR TO 1846.
Acts of October 12,1837 (5 Statutes, 201); May 21,1838 (5 Statutes,
228); March 2,1839 (5 Statutes. 323) ; March 31,1840 (5 Statutes, 370);
February 15,1841 (5 Statutes, 411); January 31,1842 (5 Statutes, 469);
August 31,1842 (5 Statutes, 581); and March 3,1843 (5 Statutes, 614).
1 and 2 years 1 and 2 years
irom date.
$47, 002,900. 00
(*)
0
TREA.SURY NOTES OF 1846.
Act of July 22,1846(9 Statutes, 39)
1 year . . .
1 year
date.
from
MEXICAN I N D E M N I T Y .
Act of August 10,1846 (9 Statutes, 94)
5 years...
5 years from
date.
5 per cent.
Par.
320,000, 00
7, 687, 800. 00
303, 573.92
n
t—I
{*)
TREASURY NOTES OF 1847.
1 and 2 years 1 and 2 years
from date.
Act of January 28,1847 (9 Statutes, 118)
TREASURY NOTES OF 1857.
Act of December 23,1857. (11 Statutes, 257)
1 year
1 year
date.
from
BOUNTY-LAND SCRIP.
Act of February 11,1847 (9 Statutes, 125)
LOAN OF 1847.
* Included in "old debt."
3 to 6 per
cent.
23,000, 000.00 t 26,122,100.00
Par.
Indefinite .. At the pleas- 6 per cent .
ure of the
^G.O-yem.m.ent.
!.
Act of January 28,1847 (9 Statutes, 118)
^
TEXAN I N D E M N I T Y STOCK.
Act of September 9,1850 (9 Statutes, 447)
LOAN OF 1858.
Act of June 14,1858 (11 Statutes, 365)
"
5g and 6 per
cent.
20 years
14 years
-j.
.
6 per cent .. l i to 2
per cent,
prem'm.
J a n . l , 1865..-. 5 per cent... Par
Jan. 1,1868, -.
52, 778,900. 00
Indefinite
233,075.00
(*)
a
n
23, 000, 000. 00
128, 230, 350. 00
1, 250, 00
10, 000, 000.00
5, 000, 000.00
20, 000.^00
20,000,000.00
20, 000, 000. 00
prem'm
of dMI Including conversion of Treasury notes.
2,000.00
15 years .... Jan. 1,1874.... 5 per cent... Average
t Including re-issues.
Indefinite
n
td
H
TABLE A.—STATEMENT OF 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.
Length of
loan.
When redeemable.
Rate of interest.
Price
authorat which Amount
Amount issued
ized.
sold.
Amount outstanding.
• pi
LOAN OF 1860.
10 years
Act of June 22,1860 (12 Statutes, 79).:
Jan. 1,1871...
5 per cent.
P a r t o $21, COO,.000. 00
liVoPer
ct.pr'm.
$7,022,000.00
$10,000.00
O
LOAN OF FEBRUARY, 1861 (1881s).
Act of February 8,1861 (12 Statutes, 129) . . . . . :
,-
- • 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
TREASURY NOTES OF 1861.
Act of March 2,1861 (12 Statutes, 178) .. -•
I
' . . 60 days or 2
years.
60 days or* 2
years after
date.
6 per cent-
P a r t o Indefinite
liocPer
ct. pr'm,
OREGON W A R DEBT.
A(5tof March 2,1861 (12 Statutes, 198)
. . . . . . > . . . 20 years.
July 1,1881 - - 6 per cent-
Par-
2,800,000.00
1, 090, 850. 00
2, 550. 00
After June 30, 6 per cent... P a r .
1881.
250,000,000.00
189,321,350.00
87,000. 00
LOAN OF J U L Y AND AUGUST, 1861.
The act of July 17, 1861 (12 Statutes, 259), authorized the issue of 20 years.
1250,000,000 bonds, with interest at not exceeding 7 per centum per
annum, redeemable after twenty years. The act of August 5, 1861
(12 Statutes, 310), authorized the issue of boncls, with interest at 6
per centum per annum, payable after twenty years from date, in
exchange for 7-30 notes issued under the act of July 17,1861.
o
w
H
LOAN OF J U L Y ^ N D AUGUST, 1861.
Continued at 3^ per cent, interest, and redeemable at the pleasure of
the Government.
Indefinite.
At the pleas- 3^ per cent.
ure of the
Government.
Par.
39,550.00
a
OLD DEMAND NOTES.
Acts of July 17, 1861 (12 Statutes, 259); A u g u s t s , 1861 (12 Statutes,
313); February 12,1862 (12 Statutes, 338).
Indefinite.
On demand .
None .
60, 000, 000.00
*60, 030,000.00
'56,442. 50
SEVEN-THIRTIES OF 1861.
A c t o f July 17, 1861 (12 Statutes, 259)
_
Syears
Aug. 19 and
Oct. 1,1864.
7 ^ per cent. Av.pre.of Indefinite
5 or 20 years
May 1,1867...
6 per cent... Av.pre.of 515,000,000.00
10, 800. 00
FIVE-TWENTIES OF 1862;
^ Act of February 25,1862 (12 Statutes, 345); March 3,1864 (13 Statutes,
GO 13), and January 28, 1865 (13 Statutes, 426).
I
253,700.00
I The act of February 25,1862 (12 Statutes, 345), authorized the issue of
<i $150,000,000 United States notes, not bearing interest, payable to
H
ijearer at the Treasury of the United States, and of such denomina^-^ tions, not less than five dollars, as the Secretary of the Treasury
might deem expedient, $50,000,000 to be applied to the redemption
of demand notes authorized by the act of July 17,1861; these notes
to be a legal tender in payment of all debts, public and private,
within the United States, except duties on imports and interest on
the public debt, and to be exchangeable for six per cent. United
States bonds. The act of July 11,1862 (12 Statutes, 532), authorized
an additional issue of $150,000,000 of such denominations as the Secretary of the Treasury might deem expedient, but.no such note
should be for a fractional part of a dollar, and not more than
$35,000,000 of a lower denomination than five dollars; these notes to
be a legal tender as before! authorized. The act of March 3, 1863
(12 Statutes, 710), authorized an additional issue of $150,000,000 of
such denominations, not less than one dollar, as the Secretary of the
. Treasury might prescribe; 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).
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CO
Indefinite... On demand ... None .
Par....
450,000, OOO. 00
346,681, 016.00
Q
to
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 J u n e 30,1864 (13 Statutes, 218).
CJ
Indefinite..
After ten days' 4, .5, and 6
notice.
per cent.
Par.
150,000, 000.00
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CERTIFICATES OF INDEBTEDNESS.
Acts of March 1, 1862 (12 Statutes, 352); May 17, 1862 (12 Statutes,
370), and March 3,1863 (12 Statutes, 710). -
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a
LEGAL-TENDER NOTES.
1 year..
1 year
date.
after 6 per cent... P a r .
No limit.
FRACTIONAL CURRENCY.
Acts of July 17, 1862 (12'Statutes, 592); March 3, 1863 (12 Statutes,
711), and June 30,1864 (13 Statutes, 220).
Indefinite... On presentation.
* Including re-issues.
None .
Par.
50,000,000.00
,916,690.47
o
T A B L E A.—STATEMENT OF" 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..
Length of
•loan.
When redeem- Rate of in- at Price
author
which Amount
Amount issued,
able.
terest.
ized.
sold.
o
Amount outstanding.
LOAN OF 1863.
The act of March 3, 1863 (12 Statutes, 709), authorized a loan of
$900,000,000, and the issue of bonds, with interest not exceeding 6
per centum per annum, and redeemable in not less than ten nor
more than iorty years, principaland interest payable in coin. The
act of June 30, 1864 (13 Statutes, 219), repeals the above authority,
except as to the $75,000,000 of bonds already advertised for.
Bonds of this loan continued at 3^ per cent, interest, and redeemable
at the pleasure of the Government.
ONE-YEAR NOTES OF 1863.
17 years
6 per cent.. Average, $75, 000, 000. 00 $75, 000, 000. 00
premium of
$14,300.00
w
1 year
date.
after
2,950. CO
Par-
5 per cent.-. P a r .
400,000, 000. 00
34,455. 00
44,520,000.00
2 years
2 years after
date.
CO
O
TWO-YEAR NOTES OF 1863.
Actof March 3,1863.(12 Statutes, 710)
O
O
Indefinite... A t the pleasure 3^ per cent.
of the Government.
lyear
Act of March 3, 1863 (12 Statutes, 710)
July 1,1881 .
5 per cent.
Par.
400,000, 000.00
Indefinite... On demand .
None .
Par.
Indefinite.
Acts of March 3,1863 (12 Statutes, 710), and J u n e 30,1864 (13 Statutes,
218).
TEN-FORTIES OF 1864.
3 years
3 years from
6 .per cent,
compound.
Act of March 3,1864 (13 Statutes, 13)
10 or 40 years. March 1,1874
"5 per cent.
5 or 20 years. Nov. 1,1869 .
6 per cent.
28, 500. 00
166,480, 000.00
H
GOLD C E R T I F I C A T E S .
Act of March 3, 1863 (12 Statutes, 711) ,
*
154, 028,552.00
o
COMPOUND-INTEREST NOTES.
date.
P a r to 7
per ct.
prem.
400, 000, 000.00 266, 595,440.00
185,750.00
200, 000,000. 00 196,118, 300.00
59, 600.00
a
F I V E - T W E N T I E S OF J U N E , 1864. .
A c t o f J u n e 30, 1864 (13 Statutes, 218)
1
Acts of J u n e 30, 1864 (13 Statutes, 218) ; January 28, 1865 (13 Statutes,
425), and March 3,1865 (13 Statutes, 468).
Av.prem. 400, 000, 000. 00 125, 561, 300.00
.
44,100.00
of2xm-
SEYEN-THIRTIES OF 18^64 AND 1865.
3 years
Aug. 15,1867'
J u n e 15,1868
July 15,1868:
7 ^ p e r c t . ^ Av.prem.
of 2xgg^, -800,000,000.00 *829, 992,500. 00
Indefinite.
Indefi.nit®
3perc©jit... P a r . . ^ . . Xndefiait©
*130, 500.00
NAVY PENSION FUND.
The act of J u l y 1,1864 (13 Statutes, 414), ^.uthorized the Secretary of
.
14,000,000.00
14,000,000.00
a
the Navy to invest in registered securities of the United States so
much of the Navy pension fund in the Treasury January 1 and J u l y
1 in each year as would not be required for the payment of naval
pensions. Section 2 of the act of July 23,1868 (15 Statutes, ] 70), 'fixed
* the interest on this fund at 3 per centum per annum in lawful money,
and confined its use to the payment of naval pensions exclusively.
F I V E - T W E N T I E S OF 1865.
Acts of March 3,1865 (13 Statutes, 468), and April 12,1866 (14 Statutes, 31).
a
5 or 20 years. Nov. 1, 1870... 6 per cent.. Av.prem. Indefinite.
of2x»
203,327,25©. 00
5 or 20 years. J u l y 1, 1870.
332.998,950.00
27,350.00
H
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CONSOLS OF 1865.
Acts of March 3,1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
6 per cent... Av.prem, Indefinite...
145,050.00
CONSOLS OF 1867.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
H
5 or 20 years. July 1, 1872.
6 per cent... Av.prem. Indefinite.
379,618,000. 00
259, OOOo 00
O
CONSOLS OF 1868.
Acts of March 3, 1865 (13 Statutes, 468), and April 12, 1866 (14 Statutes, 31).
I—I
5 or 20 years. July 1, 1873... 6 per cent.
Av.prem. Indefinite. CO o= 42,539,350.00
of^^.
66,700.00
THREE-PER-CENT. CERTIFICATES.
Acts of March 2, 1867 (14 Statutes, 558), and J u l y 25, 1868 (15 Statutes, 183).
FIVE-PER-CENT. LOAN OF 1881.
O
Indefinite... On demand.
3 per cent.
Par.
75,000,000.00
*85,165, 000.00
5,000.00
w
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, seU, dispose of, at not less than par, in coin, either of the description of
bonds of the United States described in the act of -July 14,1870 (16
Statutes, 272), to the extent necessary for the redemption of fractional currency in silver coins of the denominations of ten, twentyfive, and fiftv cents of standard value.
•
-^he-act-of-M-arch-^—1875-(-l-8-Statutes7-466)—directs~the~S"ec^^
the Treasury to issue bonds of the character and^description set out
in the act of July 14,1870 (16 Statutes, 272), to James B. Eads, or his.
legal representatives, in payment at par of the warrants of the Secretary of War for the construction of jetties and auxiliary works to
,^ maintain a wade and deep channel between the South Pass of the
Mississippi River and the Gulf of Mexico, unless Congress shall
have previously provided for the pajTnent of the same A)y the necessary appropriation of money.
2
>^
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td
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* Including re-issues.
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.
Length of When redeem- Rate of in- atPrice
authorAmount outwhich Amount
Amount issued,
loau.
able.
terest.
standing.
ized.
sold.
The act of July 14, 1870 (16 Statutes, 272), authorizes the Issue of > 10 y e a r s . . .
$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 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 bondc,
when due, to be made in order of dates and numbers beginning with
each class last dated a;nd numbered. Interest to cease at the end
of three months from notice of intention to redeem. The act of January 20, 1871 (16 Statutes, 399), increases the amount of 5 per cents
to $500,000,000, provided the total amount of bonds issued shall, not
exceed the amount originally authorized, and authorizes the interest
on any of these bonds to be*paid quarterly.
The act of December 17,1873 (18 Statutes, 1), authorized the issue of an
equal amount of bonds of the loan of 1858, which the holders thereof
may, on or before February 1, 1874, elect to exchange for the bonds
of this loan.
,
FOUR-AND-ONE-HALF-PER-CENT. LOAN OF 1891. (REFUNDING.)
The act. of July 14, 1870 (16 Statutes, 272), authorizes^tbe issue of 15 years.
$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 weU as from taxation in any
form hy 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, Avhen due, to
be made in order of dates and numbers, )eginning with each class
last dated and numbered. Interest to ".ease at the end of three
months from notice of intention to redeem.
FOUR-PERCENT. LOAN OF 1907.
Par.
$517,994,150.00
$49,950.00
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i> $1,500,000,000.00
Sept; 1,1891..
4 | per cent.. f Par..-..
>
185, 000, 000. 00 74, 639,000. 00
30 years.
o
^^
H
W
t?^
P>
CC
Kl
(REFUNDING.)
The act of J u l y 14, 1870 (16 Statutes, 272), authorizes the issue of
$1,000,000,000 at 4 per centum, payable in coin of the present standard
May 1,1881 . . . 5 per cent.
July 1,1907 . -. 4 per c e n t . . . P a r^ t o
one-half
708,980,800.00 645,595,350,00
' 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 weU as from taxation in any form by
or under State, municipal, or local authority. Bonds and coupons
payable at the Treasury of the United States. This act not to authorize an increase of the bonded debt of the United States, Bonds
to be sold at not less than par in coin, and the proceeds to be applied
to the redemption of outstanding 5-20'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. See Refunding Certificates, page 10.
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 the
IJnited 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 ofiice of the assistant treasurer of the United States in New
York, the outstanding United States lega;l-tender notes when presentedln sums of not less than fifty dollars.
per cent,
premium.
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P>
U
15 years.
FOUR-PERCENT. LOAN OF 1907. (RESUMPTION.)
The act of January 14,1875 (18 Statutes, 296)," authorizes the Secretary 30 years
of th 6 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
the United States described in the act of July 14, 1870 (16 Statutes,
272), for the purpose of redeeming, on and after January 1, 1879, in
coin, at the office of the assistant treasurer of the United States in
New York, the outstanding United States legal-tender notes when
presented in sums of not less than fifty dollars.
CERTIFICATES OF DEPOSIT.
The act of J u n e 8, 1872 (17 Statutes, 336), authorizes the deposit of Indefinite.
United States notes withoutinterestby bankingassociations in sums
not less than $10,000, and the issue of certificates therefor in denomi-^
jL_nations_oi^not_less-than-$57000;-which--certificates'8haTl-be payable"
on demand in United S t a e s notes at the place where the deposits
were made. I t provides that/the notes so deposited in the Treasury
shall not be counted as a part of the legal reserve, but that the certificates issued therefor may be held and counted by the national
banks as 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 IJnited States notes for which
such certifiicates 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 ot such certificates,
Sept. 1,1891..
4'Jper cent.
P a r to
one and
one-half
per cent
premium.
Indefinite.
65,000, 000.00 65,000,000.00
- I-H
o
July 1,1907 .
4 per cent.
Par.
Indefinite-
30, 500, 000. 00 30, 500, 000. 00
O
w
.^
to
On demand .
None .
Par.
No limit.
64,780,000.00 16,975, 000.00
o
&
O
<
T A B L E A.—STATEMENT O F THE 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 redeem- Rates of in- atPrice
whixjh
able.
terest.
sold.
Amount au- Amount issued.
thorized.
.
SILVER CERTIFICATES.
The act of February 28,1878 (20 Statutes, 26, sec. 3), provides that any
holder of the coin authorized by this act m£i,y 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
thesameondeniand. Said certificates shall be receivable for customs,
taxes, and all public dues, and, when so received, may be re-issued.
Indefinite... On demand
None
Par
262, 629, 746. 00
No limit
o
o
REFUNDING CERTIFICATES.
CO
The act of February 26, 1879 (20 Statutes, 321), authorizes the Secretary of the Treasury to issue, in exchange for lawful money of the
United States, certificates of deposit, of the denomination of ten
dollars, bearing interest at the rate of four per centum per annum,
and convertible at anytime, with accrued interest, into the four-percentum bonds described iu-th^ 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.
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.
LOAN OF J U L Y 12, 1882.
Indefinite... Convertible in- 4 per cent .. Par - . . . ; No limit
to 4 per cent,
bonds.
119, 640. 00
$40,012,750.00
O
K!
O
-
34, 650. 00
Indefinite... At pleasure of 3 | per cent.. Par
the Government.
H
•
These bonds were issued in exchange for the five and six percent,
bonds which had beeii previously continued at three aud 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.
^
Indefinite... At pleasure of 3 p e r c e n t . . . Par
the Government.
228, 800. 00
-^1,619,052,922.23
<
Amount outstanding.
* Exclusive of $64,623,512 bonds issued to Pacific railroads.
>
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OUTSTANDING PRINCIPAL OF T H E PUBLIC DEBT.
CXIX
T A B L E B.—STATEMENT OF OUTSTANDING P R I N C I P A L OF T H E P U B L I C D E B T OF T H E
U N I T E D STATES ON T H E 1ST OF JANUARY OF EACH YEAR FROMJ 1791 TO 1843, I N '^j^yjKjj. ^ ^ ,
a.j.^x^
K/^^
xixoii jLk.
Year.
Jan. 1, 1791
1792
1793
,
1794
1795
1796
1797
1798
1799
„
1800 . '
1801
o
1802
1803
•
1804
oo = =
1805
1806 .jv.
18u7
1808
1809
1810
1811
'
Amount.
...
77, 227, 924. 66
1842
80, 358, 634. 04
1843
78, 427, 404. 77 July 1, 1843
1844
'
80, 747, 587.39
1845
83, 702,172. 07
82, 064, 479. 33
1846
79, 228, 529.12
1847
78, 408, 669. 77
1848 .. ..
1849
82, 976, 294. 35 ' .
83, 038, 050. 80
1850
: ....
1851
80, 712, 632.25
1852
77, 054,686.30
1853
86, 427,120. 88
82, 312,150. 50
1854
L
75,723, 270. 60
1855
i
69, 218, 398. 64
1856
o
65,196.317.97
1857
57, 023', 192. 09
1858
53,173, 217. 52
1859
48,005, 587.76
I860
45, 209, 737. 90
1861
„
55,962.827.57 I
1862
^
81,487,846.24
1863
99, 833, 600.15
1864
:
1865
127, 334, 933. 74
123, 491, 965.16
1866
=.
1867
103,466,633.83
1868
95,529,648.28
1869
;
91, 015, 566.15
1870
89, 987, 427. 66
1871
93, 546, 076. 98
1872
90, 875, 877. 28
1873
90,269, 777. 77
1874
oJ-:-83, 788, 432. 71 \
1875 ..
81, 054,059. 99
1876
.,
73, 987, 357.20
1877
• 67,475, 043.87
. 1878
J
58,421, 413.67
187Q
J:
. 48, 5G5, 408. 50
39,123,191. 68
24, 322, 235.18
1882i
7,001, 698. 83
4, 760, 082: 08
1883
.j-l
1884
.'
j
37,733.05
1885
J
37, 513. 05
1886
J
336, 957. 83
1887
J
3, 308.124. 07
10, 434, 221.14
• 1888
".-i
1889
J
3, 573, 343. 82
o....
;
1812..'.'*..o
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. '
Amount.
$75, 463, 476. 52 Jan. 1, 1841
$5, 250, 875. 54
13, 594,480. 73
20,601 2-?6. 28
32, 742, 922. 00
^3, 461, 652. 50
15, 925, 303.01
15,550,202.97
38, 826 534 77
47, 044, 862. 23
63 061'858 69
63, 452, 773. 55
68, 304, 796. 02
66,199 341.71
59 803 117 70
42 24'^ 222 42
35, 586, 956. 56
31,972 537.90
28*699,'831. 85
44 911 881 03
58 496 837 88
64,842 287.88
^
90,580,873.^72
594 176 412 13
1 119, 772 138 63
1,815,784,370.57
2,680,647,869.74
2 773 236 173 69
• 2, 678 126' 103. 87
2,611,687,851.19
2, 588 4r.2 213 94
. 2, 480, 672,427. 81
2, 353, 211, 332. 32
2,253,251,328.78
*2, 234 482 993. 20
*2, 251, 690 468.43
*2, 232, 284,531.95
*2,180,395,067.15
*2, 2Q5, 301, 392.10
• *2, 256 205 892. 53
*2, 349, 567 482. 04
/ *2,120, 415, 370.63
*2, 069, 013, 569. 58
*1, 918, 312, 994. 03
*l5 884,171,728.07
•*1, 830, 528, 923. 57
tl, 876, 424, 275.14
tl, 756,445, 205. 78
tl, 688, 229, 591.63
tl, 705, 992, 320. 58
11,640,673,340.23
• as the outstanding principal of the public debt are included the certifi' * In the amount here stated
-cates of deposit outstanding on the 30th of June, issued under act of June 8,11872, for which a like
.amount in United States notes was on special deposit in the Treasury for jtheir redemption, and
added to the cash balance in the Treasury. These certificates, as a matter of accounts, are treated as
a part of the public debt, but being.offset by notes held on deposit for their re(lemption should properly be deducted from the principal of the public debt in making comparison with former years.
t'Exclusive of gold, silver, and currency certificates held in the Treasury'ls cash, and including
•$64,623,512 bonds issued to the several Pacific railroads.
'
•
•
T A B L E C — A N A L Y S I S OF 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 OF T H E U N I T E D STATES FROM J U L Y 1, 1856,
3 per cents.
Year.
1856
1857
1858
1859
1860
...
J861
1862
1863
.. ..
1864
1865
1865 A u g u s t 31 .
18u6
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880 ...
1881
1882
1883 ..
1884
1885
1886
1887
1888 .- .. -. .
1«89
3^ per cents.
4 per cents.
4^ per cents.
•
. ..
•
•^
• .
$64, 000, 000. 00
66,125,000.00
59, 550, 000. 00
45, 885, 000. 00
24, 665, 000. 00
14,000,000.00
14, 000, 000. 00
14, 000, 000. 00
14, 000, 000. 00
14,000,000.00
14. 000, 000. 00
14, 000, 000. 00
14, 000, 000. 00
14, 000, 000. 00
14, 000, 000. 00 $460, 461, 050. 00
318, 204, 350. 00
32, 082, 600. 00
238, 612,150. 00
208, 190, 500. 00
158, 046, 600. 00
33, 716, 500.00
14, 000, 000. 00
14, 000, 000. 00
$57,926,116.57
105, 629, 385. 30
77,547,696.07
90, 496, 930. 74
618, 127..98
121, 341, 879.62
17, 737, 025.68
801, 361. 23
678,
678,
678,
678,
678,
000. 00
000. 00
000. 00
000. 00
000. 00
$140,000, 000.00
240, ooo; 000. 00
98, 850, 000. 00
250,000, 000. 00
741,522,000.00
739, 347, 800 00 250, 000, 000. 00
739, 347, 800. 00 250, 000, OOO.'OO
250,-000, 000. 00
739, 349, 350.00
250, 000, 000. 00
737, 942, 200. 00
250, 000, 000. 00
737,951,700.00
250, 000, 000. 00
737, 960, 450. 00
250, 000, 000. 00
737, 967, 500. 00
250, 000, 000. 00
737, 975, 850. 00
222, 207, U50. 00
714,315,450.00
139, 639, 000..00
670,214,990.00
6 per cents.
5 per cents.
TO J U L Y 1,
7x% per cents.
$3, 632, OO^O. 00 . ' $28,130, 761. 77
3,489,000.00
24, 971, 958, 93
23, 538, 000. 00
21,162, 838.11
37,127, 800. 00
21,162,938.11
43, 476, 300. 00
21,164, 538.11
33, 022, 200.00
57, 358, 673. 95
30, 483, 000. 00
154, 313, 225. 01 $122, 582, 485. 34
30, 483, 000. 00 , 431, 444, 813. 83
139, 974, 435. 34
300, 213,480. 00
139,286,935.34
842,882,652.09
245, 709, 420. 63 1,213,495,169.90
671, 610, 397. 02
269,175, 727. 65 1, 281, 736, 439. 33 830,000,000.00
813, 460, 621.95
201, 982, 665. 01 1,195, 546, 04L 02
488, 344, 846. 95
198, 533, 435. 01 1, 543,452, 080.02
37, 397,196. 95
221, 586,185.01
1, 878, 303, 984. 50
221, 588, 300.00 1, 874, 347, 222. 39
221, 588, 300. 00 1, 765, 317, 422. 39
274, 236, 450. 00 1, 613, 897,'300. 00
414, 567, 300. 00 1,374,883,-800.00
414, 567, 300. 00 1,281,238,650.00
510, 628, 050. 00 1, 213, 624, 700. 00
607,132,750.00
1,100, 865, 550. 00
711,685,800.00
984, 999. 650. 00
703, 266, 650. 00
854, 621, 850. 00
703, 266, 650.00
738, 619, 000. 00
508, 440, 350. 00
283, 681, 350. 00
484, 864, 900. 00
235, 780,400. 00
439,841, 350. 00
196, 378, 600. 00
/
^
1889.
M
Total interestbearing debt.
$31, 762, 761. 77
28, 460, 958.93
hj
44,700,838.11
O
58, 290, 738.11
64, 640, 838.11
H
90, 380, 873. 95
365,304,826.92
O
707 531 634.47
1, 359, 930, 763. 50
2,221,311,918.29
2, 381, 530, 294.96
2, 332, 331, 207. 60
2, 248, 067, 387. 66
2, 202, 088, 727. 69 CO
2,162, 060, 522. 39
2, 046,455, 722r39
1, 934, 696, 750. 00
1, 814, 794, 100. 00
1, 710, 483, 950. 00 H
1, 738, 930, 750.00
1, 722, 676, 300.00
1, 710, 685, 450..00
1,711,888 500.00
1, 794, 735, 650.00 O
1, 797, 643, 700. 00
1, 723, 993,100. 00
1. 639, 567, 750. 00
1,463, 810, 400. 00
1, 338, 229,150. 00
1, 226,563, 850. 00
H
1,196,150, 950. 00
Pi
1,146, 014,100. 00
1, 021, 692, 350. 00
950, 522, 500. 00 P>
829, 853, 990. 00 GO
w
o
>
Pi
Kj
TABXE C . — A N A L Y S I S O P 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 STATES, 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
t e r e s t h a s ceased.
interest.
$209, 776.13
238, 872. 92
211, 042. 92
206, 099.77
201, 449.77
199, 999.77
280, 195.21
$158, 591, 390.00
473, 048.16
511,767, 456. 00
455, 437, 271. 21
416^ 335. 86
458, 090, 180.25
. 1 , 2 4 5 , 771.20
461, 616, 311.51
1, 503, 020. 09
439, 969, 874. 04
935, 092. 05
615.
01
428,218,
101.20
1, 840,
408, 401, 782. 61
1,197, 340.89
181.00
421,131,
510.55
5, 260,
430, 508, 064. 42
3, 708, 641.00
416, 565, 680.06
1, 948, 902. 26
430, 530, 431. 52
7, 926, 797.26
4*72, 069, 332.94
51,929, 710.26
509, 543, 128.17
3, 216, 590.26
820.
26
498,182, 411. 69
11, 425,
"465, 807, 196. 89
3, 902, 420.26
476, 764, 031.84
16, 648, 860,26
455, 875, 682. 27
5, 594, 560. 26
630.
26
410,
835, 741, 78
37,015^,
388, 800, 815.37
7, 621, 455. 26
865.26
422,
721,
954.32
6, 723,
438, 244, 788. 77
16, 260, 805. 26
415.
26
538,
111,
162. 81
7, 831,
584, 308, 868. 31
19, 656, 205. 26
995.
26
663,
712,
927. 88
4,100,
619, 344, 468. 52
9, 704, 445. 26
165.26
629,
795,
077. 37
6,115,
—2r4967 095726- —739,-8407-389.-32485.26
787,
287,
446.
97d
1, 911,
0 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 - Total debt, less cash A n n u a l i n t e r e s t
in Treasury.
charge.
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, 84'2, 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, 811, 687, 851.19
2, 588, 452, 213. 94
2, 480, 672, 427. 81
2, 353, 211, 332. 32
2, 253, 251, 328. 78
2, 234, 482, 993. 20
2, 251, 690, 468.43
2, 232, 284, 531. 95
2.180, 395, 067.15
2, 205, 301, 392.10
2, 256, 205, 892. 53
2, 245, 495, 072.04
2.120, 415, 370.63
2, 069, 013, 569. 58
1, 918, 312, 994.03
1, 884, 171, 728.07
1, 830, 528, 923. 57
1, 863, 964, 873.14
1, 775, 063, 013. 78
1, 657, 602, 592. 63
-lT692r •8587984-581, 619, 052, 922. 23
$21,006, 584. 89
18, 701,210. 09
7, Oil, 689.31
5, 091,603. 69
4, 877,885. 87
2, 862,212. 92
18, 863,659.'96
8,421, 401. 22
106, 332,093. 53
5, 832,012. 98
88,218, 055.13
137, 200,009. 85
169, 974,892.18
130, 834,437. 96
155, 680,340. 85
149, 502,471. 60
106, 217,263. 65
103, 470,798. 43
129, 020,932. 45
147, 541 314. 74
142, 243,361. 82
119.469, 626. 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
-629r854r-089.-85643,113, 172. 01
965, 953. 01
$10,
9, 998, 621. 76
37, 900,191. 72
53, 405, 234.19
59, 964, 402.01
87, 718, 660.80
505, 312,752.17
•1, 111,350, 737.41
1, 709,452, 277. 04
2, 674,815, 856. 76
2, 756,431, 571. 43
2, 636,036,163. 84
2, 508, 151,211.69
2, 480,853, 413. 23
2, 432, 771,873.09
2, 331, 169, 950. 21
2, 246,994, 068. 67
2,149, 780, 530. 35
2,105, 462,060.75
2,104, 149.153. 69
2, 090,041,170.13
2, 060,925, 340. 45
2, 019,275, 431. 37
1, 999,382, 280. 45
1, 996,414, 905. 03
1, 919,326. 747.75
1, 819,650.154. 23
1, 675,023, 474. 25
1, 538,781, 825.15
1, 438,542, 995. 39
1, 375,352, 443. 91
1, 282,.145, 840.44
1,175, 168,675.42
-1,-063,.
,-004,-89-1.-73975, 939, 750.22
.
$1,869, 445.70
1, 672,767.53
2, 446, 670.28
3,126, 166. 28
3, 443,687. 29
5,092, 630.43
22, 048,509.59
41, 854,148.01
78, 853,487. 24
137, 742,617.43
150, 977,697.87
146, 068,196.29
138, 892,451.39
128, 459,598.14
125, 523,998.34
118,784, 960. 34
111, 949,330. 50
103, 988,463.00
98, 049,•804. 00
98, 796,004.50
96, 855,690.50
95, lOi,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. _
33, 752,354.60
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 year, 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 P a c i f i c
railway bonds.
N O T E 2 . — T h e figures for J u l y 1, 1879, w e r e m a d e u p , a s s u m i n g p e n d i n g f u n d i n g ' o p e r a t i o n s t o h a v e been completed.
N O T E 3.—The t e m p o r a r y loaii, p e r a c t of 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 tiorn 1862 t o 1868 i n c l u s i v e , w i t h t h e e x c e p t i o n of t h e a m o u n t o u t s t a n d i n g for A u g u s t
31,1865, t h i s b e i n g t h e d a t e ' a t w h i c h t h e p u b l i c d e b t r e a c h e d i t s h i g h e s t p o i n t . T h i s l o a n bore i n t e r e s t from 4 p e r cent, t o 6 p e r cent., a n d w a s r e d e e m a b l e o n t e n d a y s ' n o t i c e
after t h i r t y d a y s ; b u t b e i n g c o n s t a n t l y c h a n g i n g , i t h a s b e e n c o n s i d e r e d m o r e e q u i t a b l e 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 n e y e a r . "
^
- KoTE 4.—In t h e r e c e n t m o n t h l y s t a t e m e n t s of t h e p u b l i c d e b t t h e i n t e r e s t a c c r u e d h a s b e e n a d d e d t o t h e p r i n c i p a l , m a k i n g t h e n e t d e b t l a r g e r i n t h a t a m o u n t t h a n t h e
a m o u n t herein stated for each year.
'
.
GO
o
S
o
O
w
w
O
X
X
CXXII
REPORT' OF THE . SECRETARY OF THE TREASURY.
T A B L E D . — S T A T E M E N T O P T H E I S S U E AND REDEIMPTION OF L O A N S AND T R E A S U R Y
NOTES, ( B Y WARRANTS) FOR THE FISCAL YEAR E N D E D J U N E 30,
1889.
Issues.
O r e g o n w a r debt, 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 W d A u g u s t 5,1861
Old d e m a n d notes, 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,
18132
.:
F i v e - t w e n t i e s of 1802, a c t of F e b r u a r y 25, 1862 '.
L e i r a l - t e n d e r n o t e s , a c t s of F e b r u a r y
25 a n d J u l y 11," 1862, J a n u a r y 7, a n d
$59,450,000.00
M a r c h 3,1863
•Gold certificates, a c t s of M a r c h 3,
79, 255, 000. 00
1863, a n d J u l y 12,1882
O n e - y e a r n o t e s of 1863, a c t of M a r c h
3,1863
T w o - y e a r n o t e s of 1863, a c t of M a r c h
3,1863 . . . . . :
O o m p o u n d i n t e r e s t n o t e s , a c t s of
M a r c h 3,1'863, a n d J u n e 30,1864 . . .
L o a n of 1863, a c t s of M a r c h 3,1863,
a n d J u n e 30,1864
T e n - f o r t i e s of 1864, a c t of M a r c h 3,
1864
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.
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..
C o n s o l s 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, aiid 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
32, 630, ooo; 00
8,1872
S i l v e r certificates, a c t of F e b r u a r y
28,1878
,
•-. 73, 752, 000. 00
R e f u n d i n g certificates, a c t of F e b r u a r y 2 6,18 7 §
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 v , 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 1891, a c t s J u l y 14,
1870, J a n u a r y 24,1871, a n d J a n u a r } ^
14,1875
Fund,ed loan of 1907, 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
24, 350. 00
• 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 r e d e m p t i o n s c h a r g e d
in r e c e i p t s a n d e x p e n d i t u r e s
245, 111, 350. 00
Kedemptions.
E x c e s s of
issues.
Excess of
redemptions.
$1,150.00
$1,150.00
33, 850. 60
33,850. 00
365.00
365,00
1, 050. 00
1, 050. 00
59, 450. 000. 00
67, 249, 598. 00
$12, 005,402.00
630. 00
'630.00
, 250.00
250. 00
3, 780. 00
3, 780.00
3, 300. 00
3, 300.00
4,000.00
4, 000. GO
2, 800. 00
7, 600. 00
22, 200.00
, 5, 450. 00
• 2,800.00
7., 600. 00
22, 200:00
5, 450. 00
9, 450. 00
.30, 320, 000.00
40, 614, 026. 00
'
18, 410. 00
494,100. 00
5, 953. 35
82,568,050.00
38,106,400.00
318, 922, 412. 35
9,450. 00
2, 310, COO. 00
33,137, 974.00
18,410.00
494,100. 00
5,953.35
82, 568, 050.00
38, 082, 050. 00
47, 453, 376. 00 121, 264, 438. 35.
47, 453, 376. 00
121, 264, 438.35
73, 811, 062. 35
TABLE E.—STATEMENT SHOWING THE PURCHASE AND REDEMPTION OF BONDS ON ACCOUNT OP THE SINKING-FUND DURING EACH FISCAL YEAR
FROM
Y e a r ended—
ITS
INSTITUTION
IN
M A Y , 1869,
P r i n c i p a l redeemed.
TO
P r e m i u m paid.
AND
INCLUDING
N e t cost in
currency.
J U N E
30,
N e t c o s t estim a t e d in-gold.
1889.
Interest due
a t close of
fiscal y e a r .
Accrued intere s t p a i d in
coin.
B a l a n c e of interest due at
close of fiscal
year.
J U N E 30, 1869.
Five-twenties
Five-twenties
Five-twenties
Five-twenties
Consols, 1865
Consols, 1867
Consols, 1868
of
of
of
of
1862
M a r c h , 1864. „
J u n e , 1864
1865
:...-.
Total
I
$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, 969.00
73, 736. 80
749, 208. 08
49, 442. 50
$1, 874, 822.84
81, 725. 00
1,212,946.45
539, 909. 00
534. 736. 80
5, 467, 208. 08
354, 442. 50
$1,349,970.02
57, 552. 82
873, 205. 61
387, 566. 28
387,903.26
3,948,586.11
256, 653.20
$16, 210. 00
700. 00
10, 500; 00
4, 650. 00
13, 830.00
141, 540.00
9,150. 00
$7, 384. 60
218. 63
1, 470.42
2, 083. 54
429. 04
116, 032. 35
8,173. 98
$8, 825.40
481. 37
9, 039. 58
1, 966. 46
13, 400. 96
25, 507. 65
976. 02
8, 691, 000. 00
1, 374, 850. 67
10, 065, 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
10,080,736.97
5,309, 800. 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
115, 888. 00
68, 143. 97
349, 903. 21
236, 622. 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
J U N E 30, 1870.
Five-twenties
Five-twenties
±'ive-twenties
Fjve-twehties
Cl)nsol8, 1865
Consols, 1867
Consols, 1868
of
of
of
of
1862
M a r c h , 1864
J u n e , 1864
1865
.~
:
Total
cl
pi
a
W
>-.
6
o
O
h^
O
Pi
P^
l-H
J U N E 30, 187L
Five-twenties
Five-twenties
Five-twenties
Five-twenties
C o n s o l s , 1865
C o n s o l s , 1867
C o n s o l s , 1868
ofT862
of M a r c h , 1864..
of J a n e , 1864
of 1865
Total.
—2r792r950r^0029, 500.00
3, 967, 350. 00
6, 768, 600. 00
10, 222, 200. 00
6,103, 050.00
52, 600. 00
-S2-7-r607-.-562, 277. 20
340, 509. 63
574, 923. 00
850, 949. 79
541, 559. 41
4,784.61
-3,-020, 557..-5.6.
31, 777. 20,
4, 307, 879. 63
7, 343, 523. 00
11,073,149.79
6, 644, 609. 41
57, 384. 61
_2,.680.„2a9._a5.
28, 590. 88
• 3, 847.182. 42
6, 525; 231. 42
9, 762, 387. 78
5, 800, 618, 37
49, 797. 81
29,936, 250.00
2, 542, 631. 20
32, 478, 881. 20
28, 694, 017. 73
-145, 93S._00;
1,240.00
201, 375. 00
331, 933. 50
522,117.00
351, 528.00
3, 096. 00
1,557,264.50
-_3J,_65J7._8iL
" 388. 35
51. 703. 46
92, 259. 58
109, 455. 28
76, 745. 93
572.13
367, 782. 53
_109, 307^20,,
851. 65
149, 671. 54
239, 673. 92
412, 661. 72
274, 782. 07
2, 512.87
1,189,48L97
QI
o
MX
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 SINKIN.G-FUND, ETC.—Continued.
o
X
P r i n c i p a l redeemed.
Y e a r ended—
Five-twenties
Five-twenties
Five-twenties
Five-twenties
Consols, 1865
Consols, 1867
Consols, 1868
;
.
Total
Five-twenties
Five-twenties
Five-twenties
Five-twenties
C o n s o l s , 1865.
Consols, 1867
Consols, 1868
,
...
..1
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 u n e , 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, 1876.
F i v e - t w e n t i e s of 1862.
i
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 1 8 6 5 . . .
Total
N e t cost estim a t e d i n gold.
Balance of-interest due a t
close of fiscal
year.
$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, 989.46
833, 600.15
9,951.63
$7,181,905.21.
142, 059. 03
4, 043,306. 16
4, 072, 038. 70
13, 225, 889.46
7, 792, 500.15
95, 801. 63
$6,345,391.98
126,123.46
3, 573, 223. 63
3, 594, 747. 85
11, 660, 785.89
6, 863, 777. 39
84, 595.02
$427, 849.00
8, 894. 00
246, 001. 50
246, 562. 00
707, 334. 00
417,534.00
5, 15L00
$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
$352, 669. 57
7 555 30
188, 551. 70
208 744.63
558, 085.79
309 046 08
3 764.05
.1,628,417.12
hj.
O
Pi
O
H
W.
. J U N E 30, 1873.
of 1862
of M a r c h , 1864
of J u n e , 1864
of 1865 . .
- J U N E 30, 1875.
F i v e - t w e n t i e s of 1862 .
.......
N e t cost in
currency.
A c c r u e d interest paid i n
coin.
W
J U N E 30, 1872.
of 1 8 6 2 . . :
of M a r c h , 1864
of J u n e , 1864
of 1865
:
P r e m i u m paid.
Interest' d u e
a t close of
fiscal y e a r .
.......o<.o...
i^
...........
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
^ 250,635.93
1, 371,187.17
653, 610. 89
81,983.44
• 8, 062, 883.87
57, 372. 50
4, 221, 834.37
2,210,485.93
12,139,437.17
4, 955, 710. 89'
701,533.44
7,089, 542. 58
49, 780.91
3, 715, 2 U . 22
1,943,488.93 ^
10, 668, 617. 09
4,373,781.76
617,140. 34
28, 678,000. 00
3, 671, 258.17
32, 349, 258.17
1, 421, 700.00
2, 020, 550. 00
1, 247, 250. 00
3.393,650.00
4,051,000.00
802, 300. 00
161, 219. 79
218,457.39
135, 577. 95
360, 964. 62
432, 348.18
86, 505. 62
12, 936,450. 00
1, 395, 073. 55
431, 450. 50
3, 500. 00
223, 270. 50
120, 266. 50
646, 095. 00
264,126. 00
37,173. 00
101, 960. 57
813. 70
42,216.46
23, 744. 47
145,069.34
69, 632. 51
8, 948. 40
329,489.93
2 686. 30
181 054. 04
96 522 03
501 025. 66
194, 493. 49
28, 224. 60
28, 457, 562.83
1, 725, 881.50
392 385 45
1 .qn.^ dQ(^. 0 5
1,582,919.79
2, 239, 007: 39
1," 382, 827. 95
3,754,6.14.62
4, 483, 348.18
888, 805. 62
1, 415, 391. 05
2,012,05L32
1, 241,57L69
3,374,934.42
4, 029, 975. 86
798, 926. 40
99,519.00
141, 438. 50
87, 307. 50
203, 619. 00
243, 060. 00
48,138. 00
31, 743. 95
48, 013. 46
29, 348. 19
46,489.33
55,976.97
11, 014. 38
67, 775. 05
93, 425. 04
57, 959. 31
157, 129. 67
187, 083. 03
37 123.62
14, 331, 523. 55
12,872,850.74
823, 082. 00
222, 586. 28
600 495. 72
Pi
25,170, 400.00
25,170,400.00
541, 973. 50
353, 061. 56
188, 911. 94
a
5, 785, 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
Kj
18,444, 050.00
1, 291, 083. 50
257, 517. 91
18,444, 050. 00
•
,.
^
1, 033, 565. 59
o
pi
Pi
o
W
>
J U N E 30, 1877.
Five-twenties of 1862
Five-twenties of Jane, 1864
Five-twenties of 1865
Consols. 1865
Consols, 1867
Total
81. 200. 00
178, 900.00
180, 350. 00
. 6, 050. 00
% 000. 00
81, 200. 00
178, 900. 00
180, 350. 00
6, 050.00
1, 000. 00
. 447,500.00
447, 500. 00
4, 352. 25
9, 943. 50
9, 519. 00
181. 50
^
30.00
i; 181. 67
1, 323. 60
3,141. 08
108. 97
2L20-
3,170. 5§
8, 619.90
6, 377.92
72.53
8. 80
24, 026.25
5, 776. 52
18, 249. 73
J U N E 30, 1878.
Five-twenties of 1862
Five-twenties of June, 1864
Five-twenties of 1865
Consols, 1865
Consols, 1867
Consols, 1868
Total.......:
17, 900. 00
15, 900. 00
2,350.00
23, 600.00
5, 700. 00
8, 500. 00
17, 900. 00
15, 900. 00
2, 350.00
23, 600.00
5, 700. 00
8, 500. 00
73, 950. 00
73, 950. 00
J U N E 30, 1879.
Five-twenties of 1862.
Five-twenties of June, 1864
Five-twenties of 1865
Consols, 1865
Consols, 1867
Consols, 1868
Total...
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
4,197. 00
809.92
3,S87.08
165.75'
94. 50
85. 50
102. 00
543. 00
6.00
40.35
18. 53
4L22
4L49
166.62
56.00
125. 40
75. 97
44.28
60. 51
376. 38
5.44
996. 75
308. 77
687. 98
1/
2, 650. 00
3,150.00
1,850. 00
1,700. 00
9, 050. 00
100.00
:
966.00
834.00
129. 00
1, 416. 00
342.00
510. 00
'.
2, 650. 00
3,150. 00
1,850. 00
1, 700. 00
9, 050. 00
100. 00
^ 18,500.00
18, 500. 00
,"...
Total.....
J U N E 30, 1881.
Five-twenties of 1862
:
Five-twenties of June, 1864
Five-twenties of 1865
Loan of February, 1861
„
Loan of July and August, 1861
>
O
/^
w
o
i^
u
O
Pi
W
J U N E 30, 1880.
Five-twenties of 1862
Five-twenties of June, 1864
Five-twenties of 1865
Ten-forties of 1864
^ Loan of February, 1861
Loan of July and August, 1861
Loan of March, 1863.
Oregon war debt
Funded loan of 1881
-Fmrded'loanUf T9'07
a
w
o
W
100.00
100.00
250.00
676, 050. 00
2, 837, 000. 00
32, 064, 250. 00
12, 797,150. 00
203, 550. 00
—23,-575r450r001, 500, 000.00
74,161. 95
1, 376, 085.04
549, 035.18
8, 273. 02
602r2(J6r97125, 558. 26
73,652,9t)0.00
2, 795, 320.42
3,000.00
50.00
100.00
7, 775, 000. 00
16, 712,450.00
>
51, 277. 58
488, 876.11
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, 237r656. 97
1,625,558.26
4.00
4.00
14.50
28,168. 75
85,110. 00
1,165, 807. 50
484, 747. 50
9, 787. 50
415,102. 70.
15, 000. 00
. 76,448,220.42 ' 2,203,806.45
3,000.00
50.00
100. 00
7,826,277.58
17,201,326.11
210. 00
3. 50'^
7.0J
462, 390. 00
1, 002, 747. 00
3.33
3.51
8. ()5
15, 296.10
37, 569. 80
647, 658. 61
271, 568. 21
- 6,.124..94_
284, 813. 34
4, 808. 26
^ .67
.49
5.85
12,872.65
47, 540. 20
518,148.79
213,179. 29
3,60.2.5.6 .
10,191. 74
935, 951. 60
1, 267, 854. 85
80.22
.25
129.78
- 3.25
5.26
302, 317.12
802, 703. 05
L74
160. 072. 88
200,043.^95
.
l-H
o
I
a
o
X
X.
<1
T A B L E E . — S T A T E M E N T S H O W I N G T H E P U K C H A S E AND R E D E M P T I O N O F B O N D S O N ACCOUNT O P T H E S I N K I N G - F U N D ,
P r i n c i p a l redeemed.
Year ended-
P r e m i u m paid.
N e t cost i n
ciirrency.
N e t c o s t estim a t e d in gold.
ETC.—Continued.
I n t e r e s t dne^ A c c r u e d i n t e r a t close of
est paid in
fiscal y e a r .
coin.
«
Total
$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
1,106,474.15
$83, 330. 51
. 551.11
263, 342. 94
$277, 984. 99
2, 033. 39
843,130. 21
74, 371, 350. 00
1, 061, 248. 78
75, 432, 598. 78
2, 935,731. 65
707, 423. 60
2, 228, 308. 05
55, 215, 850.
2, 637, 850.
1, 000.
2, 224. 450.
00
00
00
00
1,3'^8, 89-4, 64
91, 701. 75
23. 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
1, 576, 337. 23
612, 039.53
964,297.70
O
Pi
H
O
H
W
^.
J U N E 30, 1882.
Loan of July and August, 1861, continued at 3^ per cent
Loan of March, 1863, continued at 3.^ per cent
Funded loan of 1881, continued at 3^ per cent
1
Funded loan of 1881
-.
Total
X
X
B a l a n c e of int e r e s t flue a t
close of fiscal
year.
J U N E 30, 1881-Continued.
Loan of March, 1863
Oregon war debt
Funded loan of 1881.....
o
55, 215, 850. 00
2, 637, 850. 00
1, 000. 00
2, 224, 450. 00
60, 079,150. 00
,
o
pi
Pi
J U N E 30, 1883.
Five-twenties of 1862
Funded loan of 1881
Loau of July and August, 1861, continued at 3J per cent
Lonn of March; 1863, continued at 3^ per cent
Funded loan of 1881, continued at 3^ per cent
,...
Total
:
100. 00
41, 300 00
661,750.00
34,128,100. 00
10, 019,400. 00
100. 00
41, 300. 00
061,750. 00
34,128,150. 00
10, 019, 400. 00
5.50
1. 716. 60
20, 760. 25
1,171, 0.4. 37
233,802. 12
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. 378.1
329, 761. 48
1, 097, 617.42
14.18
138.13
• To.tal
;
w
"H
Pi
- W
J U N E 30, 1884.
Five-twenties of 1862
".
Funded loan of 1881
,
:
Loan of March, 1863, continued at 3^ p e r c e n t
Loan of July and August, 1861, continued at 3^ per cent.
Funded loan of 18.81, continued at 3^ per cent
Loan of July 12,1882
6
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
221, 450. 00
553.950.00
9.60
187, 08
14, 789f25
19,818.75
1, 018,176.97
240,130.13
13.35
164. 24
2, 823. 94
- 7, 669. 86
276, 923. 93
31,884.61
46.769,600.00
46, 769, 600. 00
1, 293, 111. 68
318, 879. 93
' 11,
12,
741,
208
3.85
22.84
965. 31
748. 89
253. 04
245. 52
974, 231. 75
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 e n t i e s of 1 8 6 4 —
,
F u n d e d loan of 1881
~
L o a n of J u l y a n d A u g u s t , 1861, c o n t i n u e d a t 3^ 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
L o a n of J u l y 12,1882
To.tal.
4,000. 00
100. po
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
230, 500.00
45, 282, 200.00
80.00
4.00
36.67
1, 269. 62
499.62
5, 347.70
1,153, 460.88
701. 96
.49
50.51
588. 85
87. 92
1,416.28
268, 821. 31
616.
3.
13.
680.
41L
3, 931.
884, 639.
45, 588,150. 00
45, 588,150. 00
1,100,703.49
271, 667.;
889, 036.17
100.00
2, 500. 00
1, 100.00
, 07, 500.00
4, 300. 00
300.00
.14, 250.00
15, 900. 00
26, 950.00
12, 250.00
49, 800.00
44, 044, 800.00
4, 100. 00
96, ,750. 00
190. 750.00
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
-, 044, 800.00
4, .100. 00
96, 750. 00
190, 750. 00
J U N E 30,1886.
Oregon w a r debt
L o a n of J u l y a n d A u g u s t , 1861
L o a n of 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 of 1868
F u n d e d loan of 1881
L o a n of 1882
-Loan of 1863, c o n t i n u e d a t 3^ p e r c e n t
i..
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 loaii of 1 8 8 1 , c o n t i n u e d a t 3^ p e r c e n t
44, .531, 350.00
Total.
44,531,350.00
L50
53.25
31.50
1, 425. 00
85.25
6.00
356. 25.
419.25
662. 25
203.25
826. 50
435, 942. 00
123. 00
2, 848. 50
4, 704.13
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
31.32
1, 560. 76
1, 065. 34
447,687.64
242, 487.45
12,
.
1,
215,
1,
3,
16.
45.
1.
974.
54.
3.
77.
423.
408.
366.
42.
324.
91.
287.
638.
205,200.19
d
o
>
m
O
w
o
CQ
O
Pi
H
W
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 « n t i e s of 1862
^
F i v e - t w e n t i e s of 1865
-Loan-of—February—1861-.-.L o a n of 1863
C o n s o l s of 1865
C o n s o l s of 1867..
C o n s o l s of 1868
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^ p e r c e n t
F u n d e d loa%of 1881, c o n t i n u e d a t 3^ p e r c e n t
Total.
47, 748, 750. 00
. 1,300.00
.3,100.00
28, 700. 00
650. 00
8, 000. 00
2, 000. 00
"137400700^
18, 200. 00
34, 000. 00
500. 00
1, 500. 00
8, 500. 00
25, 600. 00
47,894,200.00
', 748, 750. 00
1,300.00
3,100.00
28, 700.00
650.00
8, 000. 00
2, 000.00
—13,4U0.-0018, 200. 00
34, 000. 00
500.00
1,500.00
8, 500. OO
25, 600. 00
47,894,200.00
1, 375, 653. 00
84.17
110.83
1, 722. 00
45.50
560.00
120.00
_8.01.J.0_:
1, 092. 00
2, 040. 00
30.. 00
52. 50
297. 50
926.33
, 537. 83
223,676. 38
119.50
166. 80
861. 00
. 58.12
473. 92
60.00
,4j}2^0Ji
2,147.16
3, 333. 69
270. 25
22. 58
60.31
213.17
231, 864. 88
1,151, 976.62
35.33
• . 55.97
861.00
12.62
86.08
60. 00
^__4^00_
1, 055.16
1, 293.69240. 25
29.92
237.19
' 713.16
1,151, 672. 95
o
I
o
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 REDEMI>TION O F B O N D S O N ACCOUNT OB' T H E S I N K I N G - F U N D , ETC.—Continued.
"
P r i n c i p a r redeemed.
Y e a r ended—
P r e m i u m paid.
. N e t cost in
currency.
B a l a n c e of i n terest due at
close of fiscal
year.
N e t cost 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.
$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
J U N E 30,1888.
X
X
<
O
L o a n of 1882
F u n d e d l o a n of 1891
F u n d e d loau of 1907
..
Total
.'.
$18, 880,500.00
19,455,400. 00
5, 389, 250. 00
$1, 555, 966.17
1, 296,-049. 71
$18, 8S0, 500. 00
21,011,366.17
6,685,299.71
43, 725,150.00
2,852,015.88
46, 577,165. 88
1, 658,170. 00
233, 577.10
1,424,592.90
69.00
30. 00
1, 709. 25.
105. 00
3.50
480, 076.12
1,011,368.00
39.00
15.00
354. 94
20.42
.91
39, 397. 68
180, 452. 69
30.00
15.00
1,354.31
84.58
2.59
440, 678. 44
'830, 915. 31
1. 493, 360. 87
220,280 64
'1,273,080.23
715, 326, 482. 77 ' "^^ 25, 059,143. 24
6,622, 466. 95
18, 436, 676. 29
Pi
H
J U N E 30,1889.
Oresron w a r d e b t
....
L o a n of 1882
' .
Loan of J u l y a n d A u g u s t , 1861, c o n t i n u e d a t 3^ p e r c e n t
F u n d e d l o a n of 1891 . . .
F u n d e d l o a n of 1907
Total\.
Grand total
:
-
1
..
1,150. 00
500.00
57, 900. 00
3, 000. 00
100.00
12,153, 850. 00
26, 839, 650. 00
844, 918.01
7, 672,222. 29
1,150, 00
500.00
57, 900.00
3,000.00
100. 00
12,998,768.01
34, 511, 872. 29
39,056,150.00
8, 517,140.30
47, 573, 290.30
705, 685,150.00
^
*
31, 891, 642. 99
157, 677, 967. 61
QO
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o
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CQ
a
TABLE F.—SINKING-FUND AcdotiKT FOR I^ISCAL YEAR 188§.
DR.
*^
d^.
[NOTE.—The annual report of the Secretary of the Treasury for the fiscal year 1885 contains a statement showing the condition of the sinking-fund from its institution in
"" .
May, 1869, to and including June 30,1885.]
GO
CO
I July 1, 1888 To 1 per cent, on the principal of the public debt on
X June 30, 1889
June 30,1888, less coin and currency certificates held
in cash and cash available for reduction of the debt,
viz, $1,257,012,648.21
To interest on redemptions prior to fiscal year 1889...
To interest on $39,066,173.35, amount of debt " p a i d "
during fiscal year 1889
To balance
$12, 570,126.48
33, 740, 059.69
1,493,986.82
21.94
47, 804,194.93
June 30,1889 By balance from last year
By principal of bonded debt redeemed in 1889
By accrued interest thereon _... ^
Premium on bonds purchased
By fractional currency and notes redeemed in 1889 . . .
By accrued interest thereon
,
$68.54
056,150.00
220,280. 64
517,1401 30
10, 023. 35
532.10
47, 804,194.93
s
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a
o
o
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H
X
T A B L E G . — S T A T E M E N T O F T H I R T Y - Y E A R 6 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 I .
R A I L W A Y C O M P A N I E S UNDER T H E ACTS OF J U L Y 1, 1862 (12 STATUTES, 492), AND J U L Y 2, 1864 (13 STATUTES, 359), ^
Bail way companies.
January 1, 1889:
Central Pacific
Kansas Pacific
Union Pacific'.
Central Branch Union Pacific
Western Paeific
Sioux City aud Pacific
Amount of
bonds
outstanding.
$25, 885,120. 00 $31, 218, 091.27
6, 303, 000. 00 8, 020, 233. 09
27, 236, 512. 00 33,128, 804.01
1, 600, 000. 00 2, 029, 808. 26
1, 970, 560. 00 2, 259, 416. 94
1, 628, 320. 00 1, 952, 793.49
64, 623, 512.00
J u l y l , 1889:
Central Pacific
Kansas Pacific
.Union Pacific
Central Branch Union Pacific.
Western Pacific
Sioux City and-Pacific
Amount of inAmount of
Total interest
terest accrue^ interest due, as
paid by
and paid to
per Register's
the United
date.
schedule.
States.
78, 609,147.06
PACIFIC
due
Bepayment of Balance
the United
interest by
States
on
intertransportation
est account,
of mails,
deducting retroops, etc.
payments.
$776, 553. 60 $31, 994, 644. 87 $5, 775, 923.13 $26, 218, 721. 74
-189, 090. 00 .8,209,323.09
4,551,458.10
3, 657, 864. 99
817, 095. 36 33, 945, 899.37 11,848, 370.49
22, 097, 528. 88
48, 000. 00
2, 077, 808. 26
362, 522. 64
1, 715, 285. 62
59,116. 80
2, 318, 533. 74
9, 367.00
2, 309,166. 74
48, 849. 60
2,001,643.09
147, 251. 94
1, 854, 391.15
1, 938, 705. 36 80, 547, 852.42
21,801,300.19
w
o
pi
H
O
58, 746, 552. 23
25,885,120.00
31, 994, 644. 87
6, 303, 000. 00 8,209, 323.09
27, 236, 512.00 33,945,899.37
1, 600, 000. 00 2, 077, 808.26
1,970,560.00
2, 318, 533. 74
1, 628, 320. 00 2, 001, 643.09
776, 553. 60 32, 771,198. 47
5,864, 391. 45
189, 090. 00
8, 398, 413. 09 3, 700, 510. 09
.817,095.36
34, 762, 994. 73 11, 993, 355. 34
48,000. 00
2,125, 808.26
384,118. 97
2, 377,650. 54
59,116. 80
9, 367.00
48, 849. 6(f 2, 050,492, 69
153, 509.69
26, 906, 807. 02
4, 697, 903. 00
22, 769, 639. 39
1,741,689.29
2, 368, 283. 54
1, 896, 983. 00
64, 623, 512. 00
1, 938, 705. 36 82, 486, 557. 78 22,105, 252.54
60, 381, 305. 24
I, 547, 852.42
a
X
X
X-
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CXXXI
CHANGES IN INTEREST-BEAIIING D E B T .
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 U N I T E D STATES DURING THE YEAR ENDED OCTOBER 31, 1889.
' Title of loan.
Funded loan of 1891
Funded loan of 1907....
Refunding certificates,.
Navy pension f u n d . . . . .
Bonds issued to Pacific railroads.
Rate of
interest.
Per cent.
4
-4
Outstanding
November 1,
1888.
Outstanding
October 31,
1889.
Increase
during the
year.
Decrease
during the,
yeai.
$197, 302, 000
682,068,150
129, 620
14, 000, 000
*$21, 600
$70, 692,1,650
34,80(i,,900
16, 160
$126, 609, 350
647,288,850
113,460
14, 000, 000
893, 499, 770
64, 623, 512
21,600
105, 509, 710
788, Oil, 660
64, 623, 512
958,123, 282
21, 600
105, 509,
852,635,172
* 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, 1888, refunding certificates issued in 1879, under the act of
February 26, 1879, have been presented for conversion into 4 per• cent, bonds, as follows:
Principal
Accrued interest due thereon.
$16,160. GO
6, 514. 80
22, 674.80
Total
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 .
Total
o.,
-.
=.
$16,160.00
5,440.00
$21, 600.00
1,074.80
22,674.80
The certificates still outstanding amount^ to $113,460.
The reduction in the annual interest charge,.by reason of the changes during t h e
year ended October 31, 1889, is as follows:
On bonds redeemed by purchase.
Deduct the interest on $5,440—4 per cent, bonds issued .
Net reduction .
$4,573,205.25
217.60
, 4, 572,987.65
D u r i n g t h e twelve months ended October 31, 1889, the interest-bearing debt was
reduced by the redemption of 4 per cent, bonds amounting to $34,800,900, and of 4^
per cent, bonds amounting to $70,692,650; a total of $105,493,550 purchased under t h e
circular of April 17, 18S8. Of the 4 per cents, the amount of $27,695,600 was applied
t o t h e sinking fund for the fiscal year 1890, and $7,105,300 were purchased with the
surplus; of the 4^ per cents.$10,700 were applied to the sinking fund for the fiscal
year 1889, $12,136,750 to t h a t for the fiscal year 1890, and $58,545,200 were purchased
with the surplus.
,
.
The average rates of net premium paid for the bonds purchased for the sinking
fund were 27.210 per cent, for the 4 per cents., and 5.855 per cent, for the 4^ per cents
Average rates for those purchased with the surplus were 28.531, ancl 7.789 per cent,
for 4 and 4^ per cent, bonds, respectively.
CXXXII
EEPORT
OF T H E
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 T H E U N I T E D STATES, ETC.—Continued.
The redemptions and cancellations of United States bonds and seven-thirty notes
• during t h e twelve months ended October 31, 1889, were as follows:
•'Seven-thirty notes of 1864 and 1865
Five-twenties of February 25,1862
»
Tive-twenties of J u n e 30, 1864
-.
Ten-forties 0;f 1864, act of March 3,1864
•.
-Oonsolsof 1865,actof March 3,1865
Consols of 1867, act of March 3,1867
' Consols of 1868, act of March3,1865
Fnndedloanof 1881 (5percent.)
•Fundedloan of 1881 (continued at 3^ per cent.)'
iLoanof July and August, 1861 (O.per cent.)
•.Loan of July and Augnst, 1861 (continued'at 3^ per cent.)
iLoanof March3,186i (1881s) (6 per cent.)
.'
Loan of March 3,1863 (1881s) (continued at 3^ per cent.)
Loan of July 12,1882 (3 per cent.)
:
oooco.o
..:.
.^
°.
'.,
.\
:...
.
o
,
Funded loan of 1891,4^ per cent., purchased under circular of April 17,1888
Funded loan of 1907,4 per cent., purchased under circular of April 17,1888
Tatal redemptions and cancellations
...
$650
750
50
' 5,000
7,150
21,000
5,400
5,100
7,350
3,600
29, 000
2,100
100
392,350
479,600
70,692,650
34, 800,900
105,973,150 •
TABLE I,—STATEMENT SHOWING THE AMOUNT OF GOLD AND SILVER COIN AND BULLION;
GOLD, SILVER, AND CURRENCY CERTIFICATES;
UNITED STATES NOTES, AND NATIONAL AND STATE BANK NOTES IN THE UNITED STATES, AND DISTRIBUTION THEREOF AT TIIE CLOSE OF
EACH YEAR NAMED.
Gold certificates.
Gold.
Date.
In Treasury,
including
bullion.
June 30—
I860
1861
1862
1863
1861 . . . .
Jg65
1860
1SG7 .
1868 .
1SG9
1870
1871
1872
187 3
1874
187 5
187 6
187 7
187 8
187 9
188 0
1881
1882
1883
188 4
188 5
188 6
188 7
188 8
1889
In national
banks.
In other banks
and in individual hands.
Total.
In Treasury.
Silver certificates.
In other banks
and in individual hands.
In national
banks.
Total.
In Treasury.
In national
banks.
Subsidiary silver.
Silver dollars.
In other banks
and in individual hands.
Total.
In Treasury,
including silver
bullion.
tn national
banks.
In other banks
and in individual hands.
Total.
In Treasury.
In other banks
and in individual I auds.
In national
banks.
Total.
*
$72,281,687. 86
68,431,388. 80.
56,688,448.36
, 55,217,604.05
89,390,471.88
128,460,202. 87
135,236,474.62
126,145,427.20
163,171,661.25
148, 506,389.95
198,078,567.68
204,876, 594. lfr
247,028,625.25
232,554,886.49
277,979,653.61
314, 704,822.46
303,581; 937. 00
f
$3,370,378.40
5, 019, 638. 53
3,603,993.46
4,839,240. 54
5,306,262.69
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, 530,587.67
98,137,439.47
05, 709, 782.84
82,651,610.00
$442,610.00
95, 470.00
35, 260.00
533,680.00
2,462, 320, 00
2,096, 620.00
5.671,6-10. 00
5, 208, 680.00
$135,000,000 00
4, 809, 720. 00
147, 379, 493.00
4, 247, 500.00
121,134,906.00
4, 506, 420. 00
130,056, 907.00
9, 274, 560.00
167,501,472.00
213, 199,977. 00 19,469,320. 00
133,880. 00
245,741,837. OJ
40, 700.00
351, 841,206.00
23,400.00
478,484,538.00
8,100.00
506, 757,715. 00
512, 732,063. CO 22,571,270. 00
545, f>00, 797. 00 27,246, 020. 00
13, 593,410.00
5*8,697,036.00
590, 774, 461. 00 ' 55,129, 870.00
654, 520,335.0(1 30,261,380.00
20, 928, 500. 00
705, 818,855.00
36,918,32,5.00
680,063,505.00
$59,347,933.7473,928,465. 67
60,782,464.18
70,000,062.41
72,804, 737.43
76, 547,821.46
88,974, 516.33
148, 736, 269. 07
213,411,600.30
267,027,5-54.31
277,650,679. U
274,788,464.35
258,-399,463,68
253, 688,986.84
278,403,241.92
295,404, 249.70
293,829,958.00
$8, 082,800.00
7,122, 350. 00
. 13,283, 790. CO
11,953, 680.00
18,660, 920. 00
9,101,160. 00
11,412,160.00
22,139, 090; 00
13, 671.660.00
, 12, 642,180. 00
16, 872, 780. 00
12, 179, 520. 00
16,021,460.00
13,975, 6G0. 00
7,939, 560. 00
5,137,500.00
4,410,400. 00
32,791,590.00
26, 637, 110. 09
74,816,920.00
41,446,430.00
54,274,940.00
68,761,930.00
69,517,790, 00
$2,422, 420. 00
11,555, 760.00
4,359,590.00
18,002, 280.00
13,423, 880. Op
8,628, 520.00
14,999,500. 00
12,112,230. 00
4, 343, 720. 00
4,906, 620.00
7,302, 200. 00
20,118,520.00
8, 876,220.00
1,304,220. 00
24,340.00
622,020. 00
588, 620. 00
27,015, 780.00
44,509, 530.00
51,912,810.00
34, 597, 945. 00
36,950,497.00
52, 332, 720.00
47, 612,439.00
$10, 947,860.00
18,773, 580.00
17, 678, 640. 00
30,489, 640. 00
34, 547,120. 00
19,8S6, 300. 00
32, 0S6, 300.00
39,460, 000. 00
22, 825,100. 00
21, 790, 300. 00
28, 681, 410. 00
41,572, 600. 00
44, 367, 000. 00
15, 413, 700. 00
8, 004, 600. 00
5,7S2,920.00
5,037,120.00
82, 378, 640.00
98, 302, 660.00
140, 323,140. 00
131,174,245.00
121,486,817.00
142, 023, 150. 00
154,048, 552. 00
•
* $1,455,520.00
ROSO.'OO"
$36,670.00
2, 052, 470.00
357,810. 00
91»5, 400. 00
6,584,701.00
4, 794,169. 00
945,590. 00 88,165,139. 00
12, 055,801.00
854, 040. 00 63, 652, 050. 00
11, 590, 620. 00
15, 906,145. 00 3,121,130.00 69, 409, 556. 00
23, 384, 680.00 2,86l.0u0.00 93,560,011.00
38, 370,700. 00 3,139, 270.00
98,391,676.00
27, 861,450.00 1, 812, 290.00 86, 303, 935. 00
3, 425, 133. 00 3, 535,479.00 138, 582, 538.10
28,732,115. 00 7,094,854. 00 193, 664, 803 00
5,474,181.00 12,452,057.00 244, 703, 508.00
$1,149, 305.00
*$1,149, 305. 00
1,592, 261.00
M, 512,201. 00
2,742,548. 00
*2, 742, 548. 00
3,997,258. 00
*3,997,
253.00
4
4, 626,921. 00
4, 626. 921.00
16, *j>.9', 079. 00
""$1*, 462*666." 00* 15, 059,827.84 "'$I75,"25G"66' "$1,"034*661." 16
33, 239,916.91 4, 739,120. 00
3, 297, 319.09 41,276,350. 00
2,466,950.00
49, 549, 851.42 4, 689, 628.00 15, 420, 928. 58 69, 660, 408. 00
12,374,270.00
65, 954,671.10
51,166,530. 00
5,711,137. 00 23, 631,274.90 • 95,297,083. 00
90, 384, 724. 36 C, 077,153.00 26, 326, UUO. 64 122,7S8, 544. 00
66,006,710.00
116, 396,235. 29 6, 351,004.00 29,3U0, 145.71 152, 047, C85. 00
88,616,831. 00
139,61';, 414.27 8, 032,811.00 32, 657, 388.73 180, 306,614.00
119,811,691.00
169,451, 997.52 7,797, 925.00 31, 2-9, 044. 48 2> '8, 538, 967. 00
139,901,646.00
184, 523, 2?2. 97 6,757,263.00
45, 911, 3G0.03 237,191, 906. 00
115,977,675. 00
145,543,150.00 221,897,045.77
6, 343, 213.00 49, 205, 508. 23 277,445,767.00
229,491,772.00 254,639,063.35
C, 006,432.00 48, 620, 904.00 310,16t>, 459. 35
47, 670, 569, 00 343,947,093.00
262,629, 746.00 289,489,794. uO 6,786,730.00
National-bank notes.
State-bank circulation.§
Date.
One and two vear Compound-interest Fractional paper
notes of 1863.
' currency.
notes.
Demand notes.
In Treasury.
June 30—
I860....
1861
1862
1663
1864
$207,102,477.00
202,005, 767.00
183,792,079.00
238,677,218. 00
179, 157,717.00
142,919, 638.00
19,996,163.00
4,484,112.00
3,163,771.00
2, 558, 874.00
% 222,793.00
1,968, 058.00
1,700,9)5.00
1,399,184. 00
1, 162,453.00
964,497.00
1,047, 335.00
!*09,272.00
£06,106,00
729,469.00
574,046.00
517,908.00
521,564.00
377,231, 00
357,220. 00
242,618.00
235, 900.00
327,653.00
230,806.00
201,170.00
i860
1866
1807
1868
186 9
1870
187 1
1872
1873
187 4
1275...
1876
. 1877
1878
1879
1880
1881
1882
1883...1
1884
188 5
1886
1887
1888..'
1889
In national
banks.
In other banks and
in individual
hands.
Total.
In Treasury.
•Bullion in the mints and Now York assay office.
$S9,879,475.00
163,471,450.00
42,338,710,00
3,454,230.00
1,123,630.00
555,492.00
347,772.00
248, 272.00
198, 572.0J
167,522,00
142,105.00
127,625.00
113,375.00
101,705.00
95, 725.00
90,485.00
80,185.00
82,485.00
79, 985.00
74, 965.00
71,765. CO
69, 765. 00
G8, 035.00
66, 545. 00
65, 605.00
63, 835. 00
62,955.00
t Includes trade-dollars.
In other banks and
In national banks.
in individual
hands.
Total
Page c x x x m
$5, 000, 000. 00
8, 763,217. CO
16, 625, 447. 00
32,418,734.00
t51, 837, 500. (i0
t71, 778, KL'8. 00
t76, 249, 983. 00
t78, 802,270.00
tS'J, 087, 061. 00
f 80, 428, 580. 00
tSO, !'60, 300. 00
J75, 201, 528. 00
74, 939, 820.00
75, OGO, 937. 00
75, 547,799. 00
76, 406, 376.00
76, 601.836. CO
In banks*
In Treasury.
Total.
Total bullion and
metallic and paper
money.
•
$15,000, 000. 00
163, 756,080. 00
159,012,140.00
122, 394,480. 00
28,161,810. 00
2, 871,410.00
2,152.910.00
768,500.00
593,520.00
479,400.00
415,210. 00
367, 390. 00
328,760.00.
296,630.00
274, 920.00
259,090. 00
242,590.00
23»>, 250.00
22d, 960.00
213,620.00
207, 660. 00
2u2,730. 00
. 197,170.00
152,880.00
189, 530.00
185, 750.00
$20,192,456.00
$10. 753,777.00
22,804,877.25
25,005,828.76
36, 337,528. 00
27,070,876.96 *"%$5,"467,'I95*66' , 31, 547, 972. 00
28,307,523. 52
11,861,418.00
22, 215,935. 00
32,626, 951.75
5,3' 3, 982.00
17,498, 787. uO
-32,114,637.36
7,992,791.00
18, 0S1,718.00
39.878,684.48
11,118,903.00
23, 804, !M. 00
"40,582,874.56
6, 855, 509. UO
26, 841,641.00
40,855, 835.27
8,627, 790.00
23, 999, 544.00
44,799,365.44
8,301,586. 00
26, 055,726.00
46,831,295.67
11,715,488.(0
32,272. 068.00
42,129,424.19
13,861,403.00
42, 317, SOG. 00
* 34,446,595. 39
16,877,634.00
32, 979,719.00
20,403,137.34
16, 759, 847, 00 - 34,238,402.00
- l'j, 547,768.77
12, 789,923.00
30, 463, 349. 00
15,842,610.11
8,286, 701.00
24,771,123. 00
||7,214,954. 37
7,090,219.00
26, 358, 332. 00
7,105,953.32
5,296,382.00
27, 932, 850. 00
7,047,247.77
6,277,246.00 . 27,753,195.00
7,000,690.81
8,217,0ti2.00
31,748, 004.00
6,980,001.31
8, 809, 990.00
27,871,246 03
6,964,175. 88
9,945,710.
00
32,131,028.00
6,054, 087.52
4, 034,416. 00
30, 684, 525.00
6,946,964.37
2, 362, 585.00
25, 420, 212.00
C, 922,643. 82
7,055, 541.00
25, 130,431.00
6,916,690.47
- 4,158,330.00
27,715,587. 00
{ Trade-dollars ($6,000,000) deducted.
$20,481,493.00
109,800,332.00
244,464, 741.00
261,548, 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
270,499, 973.00
276, 9*0,513.00
251,434,991.00
220,182, 349.00
179,505,046.00
$31,235,270.00
146, 137, 860. 00
281,479,908. 00
298, 625,379.00
299,762, 855.00
299, 742,476. 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
344,505t 427.00
355, 042, 675. 00
358,742,034.00
356, 073,281.00
339,499, 883.00
318,576,711.00
311,699,454.00
279,217, 788. 00
252,368, 321.30
211,878,963.00
$32,184, 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
68, 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, 589.08
36,498,839.42
4 >, 183,801.75
45,047,378.94
41,118,316.79
28,783,796.79
53,345,975.89
47,196,825.00
$40,042,756.00
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
71,641,402. 00
67, (,59,152.00
64, 470, 717.00
58, 728,713.00
64,019,518.00
73, 832, 458. 00
76,917, 212.00
79, 701,352.00
79,656,783. 00
74, 482, 342.00
81,995,643.00
97,456,832.00
$375, 073, 234.00
213, 522,246.00
130, 008,811.00
218, 850,120.00
228, 405,565.00
233, 767,975.00
230,388,887.00
220, 931, 310. 00
223,174,263.00
210, 567,654.00
210,313,102.00
204,223,440.00
2<'8,045, 502.00
206, 069, 958. 32
203,017,493 27
205, 229,960. 38
249,189,739.^9
257,718,210.55
247,990,908.92
230,349,718.58
229,580, 002. 25
221,932,2^5.00
225,905,916.21
243,414, 877.21
211,339,397.11
2u2, 027,359.00
$447,300,203.00
431,066,428.00
400,780,30G. 00
371,783,597.00
356,000, 000.00
355,935,194. 00
356, 000, 000.00
356, 000,000.00
357,500, 000.00
356,000,000.00
382,000, 000. CO
375,771,580. 00
369,772,284.00
3"9,764,332.00
346,681,016. 00
346, 681,016.00
346, 681,016. 00
346,681,016.00
346,681,016. 00
346,681,016. 00
346, 681, 016.00
346 681,016.00
346,681,016,00
346, 681,016.00
316,681, 016.00
346,681,016.00
§ Converted national-bank circulation only from 1863 to 1872, inclusive j 1873 to date includes amounts reported outstanding by State banks.
NOTE l.—The aggregate amount of money in actual circulation may be obtained by deducting from the total the amounts held in tlie Treasury.
px 89
$1,654,036.80
3,714,041.00
8, 642, 460. 45
22,548, 678. 90
45, 034, 639. 69
60, 053,514. 93
G >, 315, 532. 25
53,339,380. 67
52, 067, 940. 02
51,559, 080.62
51,616, 444.54
44, 575,785.34
42, 043,529. 56
43, 260, 685.21
45, 770, 726. 00
47, 543,Oofi. 53
46,081,483.00
Legal-tender certificates.
Legal-lender notes.
-
£53,040,000.00
3,351,019.75
7S0,999.25
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
03, 962.50
62,297.50
61,470. 00
60, 975.00
60,535.00
59, 695.00
58, 985.00
58,440.00
57,950.00
57,445.00
57,130.00
56, 807.50
56,442. 00
$905,344.88 $2,440,618.32
3, 63 !, 908. 74
1,414,267.17
" .5, 329, 577.71 2, 653,408.84
6,363, 605.72 3, 500,449.38
2, 952, 053. 04 3, 8"'0, 213. 37
6, 800, 505.97 4, 802,807.10
8, 903,401. 36 2, 031,051.39
24,350, 481. SO 1, 172,407.53
771,424.05
27, 247, 690. 93
820,808. 80
28,048, 630. 58
857,854.41
28, 486, 001.05
29, 600,720. 05 1,085.1-22. 61
31,236, 899.49 1,0 9,390.95
28, 886,946.97 2,913,304.82
26, 963, 934. 20 2,813,138.80
2>t, 044, €61.55 2, (-19,277.92
25,124, 672.00
4,495,681.00
NOTE 2.—The stock of gold coin and bullion and of SILVER coin and bullion in the United States at the close* of each year from June 30, 1873. to June 3D 1688. is the amount estimated by the Director of the Mint.
$31,515,000.00
58,0C0, 000.00
57, 970,000.00
32, 565,000. 00
53,825, 000. 00
46, 245, 000.00
29, 355,000, 00
14, 235,000. 00
11, 650, 000. 00
13,245,000. 00
13, 0G0,000.00
12,190,000.00
29, 585,000. 00
18,250, 000.00
• 8, 770, 000. 00
14,665,000. 00
16,955,000.00
flLess
•
'
$31,730, 000.00
58,755. onu. 00
58,415, 000.00
32, 840, 0i 0. U0
54, 960, 000. 00
46, 815, 000. 00
30, 805, 0 0. 00
14, 595, 00t>. 00
11,925, 000.00
13, 320, 000. 00
13, 375, 000. 00
12,385, 000. 00
29, 785, 000.10
2r>o, oco. 00
250, 000.00 " 18, 500, COO. 00
9, 080, 00J. 00
310, 000. 00
14,915, 000.00
250, 000.00
17,195,000.0J
• 240,000.00
$2*5,000.00
755, 000.00
415, C00 00
275, 000. 00
1, 135, 000. 00
570, 00U. 10
1, 4"0, 0< 0. 00
360, 000. 00
275, 000.00
75, 000. 00
315, 000. 00
195,000.00
$902, 506,387.9<
1, 020, 959,419.17
994,538, 582.69
906, 759, 231.8C
1,019,080, 429.84
1, 082,869, 361.27
1,105,305, 365.11
1, 234, 699, 247.37
1, 432, 461, 454. 32
1, 507, 776, 150. 77
1,670,587,107.81
1, 725,512,335. 31
1, $54, 978,844.83
1,834,570,841.52
1,917,112,904.37
2,085,334,571.67
2,099, 968,718.47
amount estimated as lost or destroyed, act of June 21, lS79.
SILVER COIN AND BULLION IN T H E
TREASURY.
CXXXl^
T A B L E J . — S T A T E M E N T OF THE ,STANDARD S I L V E R DOLLARS, S I L V E R B U L L I O N ANI>'
. SUBSIDIARY 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 END O F EACH MONTH PROM^
D E C E M B E R 31, 1877,
TO OCTOBER 31, 1888.
Standard silver
dollars.
i
Silver bullion.
S u b s i d i a r y silv e r coin, i
Total.
1877—December 3 1 .
$1,736,984.89
1878- - J a n u a r y 31
F e b r u a r y 28 . .
M a r c h 30 . . . . .
A p r i l 30
May31
J u n e 29
J u l y 31
A u g u s t 31
September 30.
O c t o b e r 31
N o v e m b e r 30 .
December 3 1 . .
$810,561
3,169,681
5,950,451
o 7,718,357
. 9, 550,236
11.292, 849
12,155,205
13,397, 571
14, 843, 219
16,704,829
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, 491.41
9,439, 461.25
5, 626,541.22
6, 261,437. [76
7,139,637. ;34
7,029, 306. f77
8,103,228.02
6, 860,505. 97
7, 079,667.36
6,478, 642.22
6,143, 903.02
6,323, 132. 31
6,009, 834.^3
6, 031,804,52
8, 453, 909.29'
9,217; 015.41
11,484, 678.87
17, 549, 698.45
19,944, 883.97
21,'920, 933:8Jj
24,295, 663.5526,753, 730:29'
27,933, 142.50
28,072, 745.52
31, 012, 544.84
32,176, 094,77
1879—January 31 . . .
F e b r u a r y 28 . .
March 3 1 . . . . .
A p r i l 30
M a y 31
J u n e 30
J u l y 31
A u g n s t 31
S e p t e m b e r 30.
October 3 1 . . . .
lifovember 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, 421.19
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.^8
16, 814, 308,94
17, 755, 986.76
18,432, 478.13
18, 881, 629. i5
34, 365,795. 63
35, 621, 660.28;
36,675,339.80.
37, 265,549.82.
38,667,289.87
42,143,318.27/
46, 995,790.79^
50, 819,800.37
52,931, 683.25-53, 615, 845.07
55, 594, 782. 82'
56, 542,114. 34;
1880—^January 31 . . .
F e b r u a r y 28 . .
• M a r c h 31
' A p r i l 30
May31
.
J u n e 30
^.
J u l y 31
A u g u s t 31
S e p t e m b e r 30 .
O c t o b e r 31 . . . .
November 30..
December 31.,
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, 007,33L04
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
6,183, 224. 05
20, 204,809. 83
21,179, 312. 32
21,989, 814.48
22,767, 672.95
23, 577,09L 99
24,350, 481.80
24,975, 713. 52,
25.152, 971.89
24, 799.925.40
24,6!^9, 489.89
24, 653,530.37
24,769, 057. 32
60, 054, 456. 80^
62, 676," 711.57
64, 856, 996.06.
68,186, 676.9971, 208, 869,98.
73, 900, 333.22 .
77,250, 152.43
79, 028, 293. 35"
78,012, 360.14
77, 757, 316.2678, 306, 373.18-,
79,142, 799. 37
1881—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 31.
J u n e 30
July31
A u g u s t 31
S e p t e m b e r 30 . . .
October 3 1 . .
N o v e m b e r 30
D e c e m b e r 31
50,235,102
52, 9§9,460
55,176,158
58, 044, 826
60, 518, 273
62, 544, 722
64,246, 302
65, 948,344
66,092, 667
56, 576, 378
68,017, 452
69,589,937
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, 826.0885,477, 820.04'.
'88, 402, 021.30 90, 817, 422. 59>^
93,102, 368. 0394, 504, =066.15 .95,724, 013. 32
95, 037, 965. 30 ."*
95, 985, 040.91
97, 024, 413.63;;
99,161, 408.34.:
1^82—January 31
F e b r u a r y 28
M a r c h 31
April30
May31
,
J u n e 30
.
July31
A u g u s t 31
S e p t e m b e r 30 . . .
O c t o b e r 31
N o v e m b e r 30
D e c e m b e r 31
72,421,584
75,138, 957
78,178, 583
81, 595, 056
84, 606, 043
87,153, 816
88,840,899
91,166, 249
92, 228, 649
92,414, 977
92, 940, 582
94, 016,842
3, 258,926.18
2,806, 143.12
4,44p, 661. 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, 956.1.6
27, 990,387.75
27,426, 139.9,3
26, 749,432.45
26,544, 544. 4'3
26, 521,692,20
102,248, .383.55-.
104, 815, 006.3&.
109, 806, 925.64
112,273, 273.36:.
116,155, 630.44
1181'433, 354.94:
119,811, 124.99\
121, 887, 353. 02
122,998, 354.19
123,176, 912.72
123,254, 346.20 «
125, 006, 727.30-
97, 530, 969
100, 261,444
103,482, 305
106,366. 348
108, 898, 977
111, 914, 019
113, 057, 052
114, 320,197
114, 587, 372
116,036,450
117, 768, 966
119, 449, 385
3, 761, 958.12
3, 974,114. 04
3, 943, 467. 30
• 3,478, 750.15
4,157, 217.76
4,482, 216. 29
4, 486, 638. 23
4, 694, 559. 45
5,107, 911. 29
4, 936, 364.86
4, 624, 279. 34
4, 534, 372. 93
27,135, 244.7;4
27, 507,275. 78.
27, 865,993.79
28, 068,628. 8'8
28, 303,396.20
28,486, 001,05
28,058, 141. 67
27, 819,7 n . 7 0
26, 750,16L 13
26, 712,424.15
26, 969,614.4b
27, .224,126. 33
128,428, 171.86131,742; 833.82
135,291, 766.09
137,913, 727.03
141,359;- 390.96
144, 882,,.236.34
145, 601, 831.90
146, 834', 468.15146,445i 444.42
147,«685, 239.01
149, 362, 859.'7#
•151,207 884..2iJ. •
1 8 8 3 — J a n u a r y 31 . . .
F e b r u a r y 28 . .
M a r c h 31
A p r i l 30
M a y 31
J u n e 30
J u l y 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
N o v e m b e r 30 .,
December 31..,
$5„532, 283.95
i
$7,260,268.84
CXXXVI
REPORT OF THE SECRETARY OF THE TREASURY.
TABLE J.—STATEMENT OF THE STANDARD SILVER DOLLARS; SILVER BULLION AND
SUBSIDIARY SILVER COIN, ETC.—Continued.
Standard silver
dollars.
1 8 8 4 — J a n u a r y 31 . . .
F e b r u a r y 29 . .
M a r c h 31
A p r i l 30
-.
M a y 31
, J u n e 30
...
J u l y 31
A u g u s t 30 . . .
S e p t e m b e r 30 .
O c t o b e r 31
N o v e m b e r 29 .
December 3 1 . .
$123, 474, 748
126, 822, 399
129,066,101
130, 314, 065
132, 626, 753
' 135, 560, 916
137, 692,119
140, 615, 722
142, 058, 787
142,926,725
144, 745, 075
146, 502, 865
Silver bullion.
S u b s i d i a r y silv e r coin.
Total.
$4, 674,432. 92
4, 919.912. 85
5, 043,824. 61
5,150, 842. 97
4, 623,158.03
4. 055,498. 27
4, 003,609. 95
4, 723,420. 00
4, 934,404.86
4, 646,496.89
4, 778,848:90
4,716, 055. 33
$28, 014,414. 76
28,490, 906.91
28, 866,456.33
29,158, 480. 47.
29, 377,206.41
29, 600,720. 05
29,797, 485.76
29, 659,003. 38
29, 474,100. 89
29, 346,757, 24
29,143, 28a..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, 21-7,134. 32
172,093, 214.71
174, 998,145. 38
170,467, 352.75
176, 919,979.13
178, 667,207,38
180, 413,275. 85
1885. - J a n u a r y 31 . . .
F e b r u a r y 28 . .
M a r c h 31
A p r i l 30
M a y 29
J u n e 30
J u l y 31
A u g u s t 30
S e p t e m b e r 30 .
O c t o b e r 31
N o v e m b e r 30 .
December 3 1 . .
150,632,154
153,561,007
156, 698, 482
159, 441, 0?4
162, 244, 855
165, 413,112
166,499, 948
166, 854, 215
165, 483, 721
163,817,342
165, 568, 018
165, 718,190
4, 613,582. 23
3, 991,129. 93
3, 887,493. 52
4, 042,186.86
4, 098,143.86
4, 038,885.52
3; 944,837,32
3, 766,196,12
3, 916,122.84
3, 840,536. 45
3, 583,956.42
3, 797,040.84
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, 427,2C9.67
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, 311,661.72
1886—January 30
February 27...
March31
. April30
May29
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30 .
O c t o b e r 30
'November 30..
December 3 1 . .
169, 083, 385
171,805, 906
174, 700, 985
175, 928, 502
178, 252, 045
181, 253, 566
, 181,523,924
181, 769, 457
181, 262, 593
182, 931, 231
184, 911, 938
188, 506, 238
3, 658,783.44
2.612, 968. 08
2, 271.104.42
2, 556,522. 03
1, 947,761. 61
3, 092,198.45
3, 786,069. 56
3, 268,940,39
3, 758,393.89
3, 807,948. 52
4,091, 383.17
4,739, 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, 584,624.69
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, 229,911. 57
205, 7t94,727.05
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
188T—January 31
February 28...
M a r c h 31.'
A p r i l 30
M a y 31
J u n e 30
:.
J u l y 30
A u g u s t 31
September 3 0 .
October 3 1 . . . .
November 30..
December 3 1 . .
193,963,783
198,112, 760
201, 672, 372
205, 788, 822
209, 052, 567
211.483, 970
211, 528, 891
•213,212,448
213, 043,796
214,175, 532
215, 882, 443
218, 917, 539
4,877, 039.10
4, 700,182. 85
4, 779,858. 28
4,171,926. 35
3, 248,351. 93
3, 982,472.43
5, 092,355. 94
5, 024,420.16
4, 910,872. 64
4,721, 996.19
4, 026,770. 01
3, 232,636.66
26, 323,524.61
26, 482,472. 31
26,601, 613.74
26, 801,076. 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
24,158, 003. 77
24, 327,528.62
225,164, 346.71
229, 295,415.16
233, 053,844.02
236,851, 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
1 8 8 8 — J a n u a r y 31 . . .
F e b r u a r y 29 . .
M a r c h 31
A p r i l 30
May31........
J u n e 30
J u l y 31
A u g u s t 31
S e p t e m b e r 30 .
O c t o b e r 31
November 30..
December 3 1 . .
223, 918, 380
227, 947,493
232, 037, 274
236,156, 394
240, 587, 970
243, 879,487
245,798, 765
247, 859, 402
248; 791,534
349, 979, 440
251, 975, 505
254, 406, 869
3,559, 522.81
3,'656, 130.37
3, 375.953. 09
3, 324,419. 45
2, 802,018.33
4,142, 731. 54
4, 579,760.25
4, 572,910.18
4, 284,730.17
4,369, 971. 76
. 4,553,379. 50
4,774, 441.16
25, 019,973.04
25, 355,431. 80
25, 566,279. 65
25,750, 228. 33
25, 878,872.04
26, 051,74L 19
26, 034,462. 25
25, 746,758. 95
24,738, 695.68
24, 088,768. 91
23, 801,676.04
23,655, 458.45
252,497, 875.85
. 256,959,055.17
260,979, 506.74
265,231, 041.J8
269, 268,860.17
274,073, 959.73
276, 412,987.50
278,179, 071.13
277, 811,959.85
278,438, 180.67
280,330, 560.54
282, 836.768.° 61
1 ^ 9 — J a n u a r y 31
F e b r u a r y 28 .
M a r c h 31
A p r i l 30
...
M a y 31
J u n e 30
J u l y 31
A u g u s t 31 . . . .
S e p t e m b e r 30 .
O c t o b e r 31
259,811,329
263, 514, 586
267, 286,176
271, 326, 743
275.484, 223
279.084,683
280, 382, 395
282, 583, 864
282, 983, 550
283, 539, 521
4, 522,881. 35
4, 679,332.62
4, 718,131,24
4, 671,544.23
4, 208,323.47
4, 520,153.80
5,776, 745. 25
5, 259,602.20
5, 203,290.79
4,834, 633.61
24. 449,597.49
24,715, 021. 38
24, 921,003. 84
24, 975,567. 45
25,125, 295. 22
25,129, 733.17
25, 012,876. 59
24, 766,455.36
23.864, 840. 68
22, 737,899.90
288,783, 807.84
292,908. 940. 00
296, 925,311.08
300, 973,854.68
304, 817,841. 69
308, 734,-569.97
311,172, 016.84
312, 609,92L 56
312, 051,681.47
311,112,054 51
t A B L E K . — S T A T E M i l N t S H O W I N G T H K A N N U A L A P F R O P R I A T i O N S M A D E B Y CONG^RESS F O E E A C H F I S C A L Y K A R F R O M 1 8 8 2 T O 1 8 9 0 , I N C L U S I V E .
2d s e s s i o n
1st session
1st s e s s i o n
3d s e s s i o n
2d s e s s i o n
2d session
1st s e s s i o n
2d s e s s i o n
1st s e s s i o n
46th C o n g r e s s . 47th C o n g r e s s . 47th C o n g r e s s , 48th 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 . 4 9 t h C o n g r e s s . 50th C o n g r e s s . 50th C o n g r e s s .
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
Fiscal year
1884.
1885.
1883.
1886.
1882.
1888.
1890. .
1887.
1889.
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 r i o u s
b r a n c h e s of t h e G o v e r n ment
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
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 m m e n t
F o r s u p p o r t of t h e A r m y . . .
F o r t h e n a v a l s e r v i c e •.
For t h e Indian service
For rivers and harbors
F o r forts and fortifications
F o r s u p p o r t of M i l i t a r y
Academy
F o r s e r v i c e of Post-OflSce
Department
F o r invalid and other pensions, i n c l u d i n g deficiencies
F o r consular and diplomatic
service
F o r s e r v i c e of A g r i c u l t u r a l
Department
F o r e x p e n s e s of t h e D i s t r i c t of C o l u m b i a
F o r miscellaneous
Totals.
$5,110,826.3®
$9,853,869.30
$2,832,680. 04
$4,385,836.10
$13,572,882.61
$137,000.00
$21,190, 995.61 $14,239,170.71
17,797,397.61
20,322,907.65
20,763,842.55
21, 556, 901.65
21,495, 660.70
20,809,781.46
20,772,720.67
20, 924,492.42
20,865, 219.93
22, Oil, 222.87
26, 687, 800. 00
14,566, 037.55
4,587, 866.80
11,451, 300. 00
575, 000.00
25,425, 479.45
27,032. 099.18
14, 903, 558.98
5,219, 603.91
18, 988, 875.00
376, 000.00
23,713,404.22
24, 681,250. 00
15,954,247.23
5, 388, 655. 91
25,961, 904.12
24,014, 052.50
+21,280,766. 93
5,773,328.56
22,650, 658.49
23,753, 057.21
16, 489, 556.72
5, 561, 262. 84
14, 464, 900. 00
59,876.69
22,369, 840.96
23, 724, 718. 69
25, 786, 847.79
5,234, 397,66
26, 316, 529.85
24,474, 710.97
19, 938, 281. 05
5,401, 330.51
22, 397,616.90
3,972,000.00
25, 527, 641.65
24, 316, 615.73
21, 675,374.98
8, 077,453. 39
670,000.00
22,346,749.74
24,454,450.00
t8, 931, 856.12
5, 903,151.26
14, 948, 300.00
700, 000. 00
322,435.37
335, 557.04
318,657.50
314, 563.50
2,152,358.00
1, 902, 177.90
Indefinite
Indefinite
725,000.00
309,902.14
Indefinite
297,805.00
Indefinite
419,936.93
Indefinite
315,043.81
Indefinite
p>
1,233,594.00
902,766.69
Indefinite.
W
O
>ii
Pi
I—I
68,282,306.68
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
81, 758,700.00
1,191,435..00
1,256, 655. 00
1, 296,255, 00
1, 225,140. 00
1,242,925.00
1, 364, 065. 00
1,4^9,942.44
1, 428, 465. 00
1,980 025.00
335, 500. 00
427, 280.00
405, 640.00
480,190. 00
580,790.00
654, 715,00
1, 028,730. 00
1, 715, 826.14
1,669,770.00
3,379,571.44
1,128, 006.15
3,496, 060.47
5, 888, 993.69
3, 505, 494. 97
1, 806, 438. 75
3, 594, 255. 54
7, 800, 003. 86
3, 622, 683.20
2, 268, 383.15
3, 721, 950. 99
10,184, 570.90
4, 284, 590.66
4, 694, 635. 33
5,056,678.98
10,129, 501.65
5,682, 409.91
io, 186, 688.81
179, 578, 999.86
251, 428,117,57
187, 911, 566.17
137, 451, 397. 77
170,608,113.00
209, 659, 382.91
245, 020,172. 89
218,115,439.80
- * - N o t - i n e l u d i n g $67150,06lT98"appropriated for "the 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.
f 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.
*$3,332,717.30
193, 035, 861.13
H
O
t I n c l u d e s $6,150,061:98 for s i x m o n t h s e n d i n g J u n e 30, 1885.
§ 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.
A n d r e a p p r o p r i a t i o n of a 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.
O
X
X
X
CXXXVIII
REPORT OF T H E SECRETARY OF T H E TREASURY.
T A B L E L . — S T A T E M E N T O F T H E N E T R E C E I P T S ( B Y WARRANTS) DURING T H E FISCAL.
YEAR ENDED J U N E 30, 1889o
Customs:
Quarter ended September 30, 1888
$61,404,839.24
Quarter ended December 31,1888
50,236,027.12
QuarterendedMarch31,1889....
. . . . = .,.,„
59,858,877.28
Quarter ended June 30,1889
,
52,332,998.05
$223, 832,741.69'
• Quarter
Quarter
Quarter
Quarter
ended September 30,1888...:
ended December 31, 1 8 8 8 . . . . ,
ended March 31,1889
'.
ended J u n e 30, 1889
»
»
,
1.
_
Sales of public lands:
Quarter ended September 30,1888
».„
Quarter ended December 31,1888. = .oo=<.=
Quarter ended March 31,1889
„
=
Quarter ended June 30, 1889
o
o
^
' Tax on circulation of national banks:'
Quarter ended September 30,1888.,. = , = .o
=
Quarter'fended December 31, 1888
»=
==
Quarter ended March 31,1889
Quarter ended J u n e 30, 1889
,
M&payment of interest by Pacific railroads .•
Quarter ended September 30, 1888
Quarter ended December 31, 1888...
Quarter ended March 31, 1889
Quarter ended June 30, 1889
Customs fees, fines, penalties, and forfeitures:
Quarter ended September 30, 1888
Quarter ended December 31, 1888
Quarter ended March 31, 1889
Quarter ended J u n e 30, 1889
Proceeds of sales of Government property:
Quarter ended:September 30, 1^8
. Quarter ended December 31, 1888
Quarter ended March 31, 1889
Quarter ended J u n e 30, 1889
8,038,651.79»o.o
Miscellaneous:
Quarter ended
Quarter ended
Quarter ended
Quarter ended
.
. •
September 30, 1888....:
December 31, 1888
March 31, 1889
June 30, 1889-
•.
Grand total
1,536,087.16149, 720.26
150,092.11
149,872.00
154,080.35
—
o...'
603,764,72
218,686.14
302,454.53
331,452.30
280,427.81
1,113,020.78-
=
»
»,..,...
L
637,240.12
927,115.63
894,510.93
919,196 91
r-——^
3,378,063.59-
134,334.10
64,273.61
53,864.94
' 43,057.77
—
295,530.42
1,429,521.13
2,618,15^.17
2,458,518.89
. 3,659,069.60
10,166,264.79^
322,349.07
1,161,625.06
184,039.72
855,936.84 .
:
2,523,950.69-
...o.
i...
1,407,060.94
1,005,886.97
980,885.15
1,287,636.23
.,.. =
Total ordinary receipts, exclusive of loans,
Eeceipts from loans, certificates, and notes
Total receipts
Balance in Treasury J u n e 30, 1888
780,500.89
6,489.94
742,498.89
6,597.44
•
Profits on coinage •:
Quarter ended September 30,1888
Quarter ended December 31, 1888
Quarter ended March 31, 1889
Quarter ended June 30, 1889
District of Columbia :
ended September 30, 1888
ended December 31, 1888
ended March 31, 3889.
ended June 30, 1889
130,881,513.92
2,236,197.58
2,507,428.27
1,625,593.85
1,669,432.09
....^
,
Fees—consular, letters patent, and lands:
Quarter ended September 30, 1888....
' Quarter ended December 31, 1888
Quarter ended March 31, 1889
Quarter ended June 30, 1889
Hevenues of
Quarter
Quarter
Quarter
Quarter
31,242,005.47
32,057,564.26
30,122,088.05
37,459,856.14 .
^....^
4,681,469.29^
387,050, 058. 84
245,111,350,00
-.
632,161,408.84
659,449,099.94
»
..1,291,610,508.78^
NET DISBURSEMENTS, 1889.
CXXXIX
T A B L E M . — S T A T E M E N T OF T H E N E T DISBURSEMENTS ( B Y WARRANTS) DURING THE.
FISOA^L
LL YEAR E N D E D J U N E 30, 1889.
}
CIVIL.
Congress
Executive-.
Judiciary
Government in the Territories
Sub-tceasuries
{public land offices
Mints and assay offices
=
•
Total civil
>
$7,0^5,584.8
12,242,427.67
4,463,322.51
401,583.69
4176, 266. 56
687, 664.18
279,28L46
L
$25, 566,13L 05^
FOREIGN INTERCOUESE.
Diplomatic salaries
.'
Consular salaries
Contingent expenses of foreign missions
Contingencies of consulates
Publication of consular and commercial reports
Indemnity for losses sustained by Chinese subjects
Spanish indemnity
Relief, protection, and rescuing shipwrecked American seamen.
International exhibitions
Emergencies arising in the diplomatic and consular service
Protecting the interests of the United States in Samoa
Miscellaneous items
386,068.30
657,727.88
69, 111. 34
153,422.16
24,751.46
276, 619.75"
^7,726.46
33,430.34
170,874.65
17,797.07
50,399.16
129,697.15
Total foreign intercourse.
1,897,625.7S
MISCELLANEOUS.
Mint establishment
Life-saving service
•
Kevenue-cutter service
Steamboat-inspection service
o,
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 fox public buildings
Vaults, safes, locks, and plans for public buildings
Refunds, reliefs, etc., under customs laws
Collecting revenue from customs:
For the year 1889....
$6,518,982.79
For prior years
511,504,21
Detection and prevention of frauds upon the customs
revenue
I..
34,226.26
Refunding excess of deposits, etc
==
Debentures and drawbacks under customs laws
Compensation in. lieu of moieties ....*
-,.o
Expenses of regulating immigration
:
Salaries, shipping service
Services to American vessels
,
«
Expenses, seal fisheries in Alaska
»
Assessing and collecting internal revenue
Paper for internal-revenue stamps
=.
Redemption of internal-revenue stamps
Punishin g violations pf internal-revenue laws
»,....
Refunds, reliefs, etc., under intemal-revenuelaws.
„
,
Allowance or drawback under internal-revenue laws .=.....=0 . . . o , . . . .
Payment of judgments. Court of Claims
,
Preventing the spread of epidemic diseases
Distinctive paper for United States securities
Suppressing counterfeiting and other crimes
Transportation and storage of silver coin
Propagation, etc., food-fishes
Expenses under* Smitsonian Institution
„
Contingent expenses, independent treasury
Sinking funds. Pacific railroads
Mail transportation. Pacific railroads.,
District of Columbia: .
.
Expenses, 50 per cent, payable by the United States. $4,899,881.31
Water department, payable from the water fund
275,374.43
Special trust funds
..:
73,414.18
1, 027, 484.80
928, 421.19
957, 186.92
269, 260.77
946, 741.26
493, 555.08
2, 702, 442.72
514, 912.32
5, 028, 170.66
504, 030.65
642, 520.51
305, 472.46
58, 311,06 •
138, 186.92
7,064,713,26
4,356^759,74
3,012,883,94
i2,85L62
280, 585.94
56,929.88
24, 805.08
13,027.10
3,770,388.72
50,229.38
25,930.72
30,078. 71
20, 331.24
43,594.48,
3,343, 794.66
252, Oil. 75
59, 668.07
62,311.59
77, 653. 93
257, 804. 74
42,180.00
88,809.04
1,326,175.10
1,267,944.65
f
5,248, 669.92
CXL
REPORT OF THE SECRETARY OF THE TREASURY,
T A B L E M . — S T A T E M E N T OF T H E N E T DISBURSEMENTS ( B Y WARRANTS) DURING T H E
FISCAL Y E A R ENDED J U N E 30, 1889.
MISCELLANEOUS—Continued.
Buildings and grounds in Washington under Chief Engineer.
Furniture, fuel, lights, etc.. State, War, and Navy Department building.
Completion, maintenance, etc., of Washington Monument
Support and treatment of destitute patients
Increasing water supply, Washington,D. C
Department of Agriculture
Deficiency in the postal revenues
Capitol building and grounds
Buildingfor Library of Congress
...o
Interior Department building
Government Hospital for the Insane
1
Columbia Institution for the Deaf and Dumb
Freedmen's Hospital and Asylum
Howard University
.=oo
National Museum
Surveying public and private l a n d s . . . .
Contingent expenses land offices......
,000 = 0
Geological Survey
Hot Springs Reservation, Arkansas
=
.^
Deposits by individuals for surveying public l a n d s , . . . , . .
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 =.=»
=
Photolithographing for the Patent Office
-.
Official Gazette, Patent Office
Miscellaneous items
Total miscellaneous
$164,499.08
62,383.35
58,460.00
17, 000.00
107,480.23
1,043,412.75
3,868,919.73
234,353.03
146,730.04
6,485.27
259,215.53
55,000.00
52,503.33
23,375.31
185,022.34
63, 756.97
157,083.84
544,362.99
6,800.00
82,509.46
42,669.80'
21,493.32
67,891.11
93,799.^7
317,521.09
72,907.96
• 40,183.60
107,657.71
-i
$53,200,307.49
INTERIOR D E P A R T M E N T .
Indians
Pensions ..-
==
= .-
..."
,
6,892,207.78
87,624,779.11
Total Interior Department
94,516,986.89
MILITARY ESTABLISHMENT.
Fay Department
12,956,694,02
Pay Department, bounty and miscellaneous
1,168,260.69
Commissary Department
1,605,936.85
•Quartermaster's Department
8, 307, 708,12
Building for cavalry and artillery school. Fort Riley, Kans
150,000. 00
Purchase and repair of building at New York for Quartermaster's De_partment
:
86,500.00
Wharf at Fortress Monroe
91,000.00
Medical Department
552, 433. 39
Ordnance Department
'.....
"
1, 396,.976.49
Anriories and arsenals
".
445, 084. 22
Military Academy
82, 067.17
Improving rivers and harbors
11,208,296.70
Fortifications
145,481.82
Construction of military posts, roads, etc
602, 329.10
National cemeteries, roads, etc
313, 708. 01
Damages by improvement of Fox and Wisconsin Rivers
15,318.26
Expenses of recruiting
101,030.48
•Contingencies of the Army
,19,424. 60
Signal Service
601,594.41
Expenses of military convicts
3, 862. 69
Publication of official records of the war of the rebellion
38, 946.84
Support of National Homes for Disabled Volunteer Soldiers
^ 2,388,944,62
Support of Soldiers' Home
'
557,407.14
Soldiers' Home permanent fund and interest account
238, 983.62
Support of militay prison, Fort Leavenworth, Kans
84,471.81
Yellowstone National Park
25,000.00 .
Claims, reimbursements, reliefs, etc
1,160,928.93
Miscellaneous items
86, 580. 87
Total military establishment
I
..=
44,435,270.85
NET R E C E I P T S AND DISBURSEMENTS, 1889.
CXLI
T A B L E M.,—STATEMENT O F T H E N E T DISBURSEMENTS ( B Y WARRANTS) DURING T H E
F I S C A L ' Y E A R ENDED J U N E 30, 1889—Contintied.
,
NAVAL ESTABLISHMENT.
j
Pay, etc., of the Navy
$7,|841,705.97
Contingent, Navy
'
! 59,747.42
Marine Corps
~
857,956.12
Naval Academy
087,735.70
Navigation
179,845.07
Ordnance.
.^
==
288,384.06
Equipment and Recruiting
1,111,451.57
Yards and Docks
c
1,519,194.76
Medicineand Surgery
:
228,844.07
Provisions and Clothing
1,699,687.09
Construction and Repair
=
1,018,687.12
Steam Engineering
682,491.50
Increase of the Navy
5,630,953.93
Extra pay to officers and men who served in the Mexican war (Navy)..
113,437.33
MUea^e, Navy (Graham decision)
...^
,
[ 5, 959.52
Commissions on new navy-yards
9,032.19
Miscellaneous items and reliefs
143,695.89
Total naval establishment
Interest on the public debt
Premium on purchase of bonds...
"==.J
=
-
J
1
..J
$21,378,809.31
41,001,484.29
17,292,362.65
i
1
299,288,978.25
318,922,412.35
Total net ordinary expenditures
Redemption of the public debt
Total expenditures
Balance in Treasury June'30,1889
Grand total
,
=
,
|
= ,,.00... = = ..
==
618,211,390.60
673,399,-118.18
1,291,610,508.78
j
.1
T A B L E N . - -STATEMENT OF T H E N E T R E C E I P T S AND DISBURSEMENTS ( B Y WARRANTS)
FOR T H E Q U A R T E R E N D E D S E P T E M B E R 30, ^
RECEIPTS.
Customs
Internal revenue
Sales of public lands
Tax on national banks
Repayment of interest by Pacific railroads...^.
, Customs, fees, fines, penalties, and forfeitures.
Fees—consular, letters patent, and lands
Proceeds of sales of Government property
Profits on coinage, etc
Miscellaneous
$58,274, 697.04
34, 733, 244.98
1,957, 706,51
661, 392. 98
173, 821. 83
292, 323. 39
868, 920.46
40, 070.41
473, 940. 83
617, 210. 27
Total^et ordinary receipts
Issues of public debt in excess of redemption
Balance in the Treasury June 30, 1889
Total
...j
'
\
100,093,328.68
22,588,621.00
673,399,118,18
:
796,081,067.86
DISBURSEMENTS.
Customs
Internal revenue .
Diplomatic
Treasury.
Judiciary
Interior civil
I.......
21,443,670.32
2,024, 876. 03
35,487, 627. 37
14,762,047.51
5,476,675.92
10,293, 457.17
6,309, 387. 77
Total civil and miscellaneous.
Indians
, . . = .,
Pensions
Military establishment
Naval establishment
,
Interest on the public debt
,
Premium on bonds purchased
Total net ordinary expenditures
Redemption of public debt in excess of issues
Balance in the Treasury September 30j 1889
Total
$4,895,898.23
884, 944.89
483, 269. 50
12, 071, 307,80
1, 094, 404.33
2,013,845.57
;
»
J
j
I..
,
J
95,797,742.09
32,474,060.00
667,809,265.77
.' 796,081,067.86
CXLII
REPORT OF THE SECRETARY OF^ ,THE TREASURY.
T A B L E O . — S T A T E M E N T OF R E C E I P T S OF THE U N I T E D STATES FROM M A R C H 4,1789;.
30) FROM
Balance in
the Treasury at
commencement of year.
1791
1792
$973,905.75
1793
783,444.51
.1794
753,661.69
1795
1,151,91417
1796
516,442.61
1797
888,995.42
1798
1, 021,899. 04
1799
617,451.43
1800
2,161,867.77
1801
2,623,31L99
1802
3, 295, 391.00
1803
6, 020, 697.64
1804
4, 825, 811,60
1805
4, 037, 005.26
1806
1807
4,538, 123.80
9,643, 850.07
1808
9, 941,809. 96
1809
3, 848,056. 78
1810
2, 670,276. 57
,1811
3, 502,305. 80
1812
1813
3, 862,217.41
;1814
5,196, 542.00
1815
1, 727,848.63
1816
13,106, 592.88
1817
22, 033,519.19
465. 48
1818 • 14, 989,
1819 ' 1, 478,526. 74
1820
2,079, 992. 38
1821
1,198, 461.21
1822
1, 6,81,592. 24
1823
4, 237,427.55
1824
9,463, 922. 81
1,946, 597.13
1825
1826
5, 201,650.43
1827
6,358, 686.18
1828
6,668, 286.10
5, 972,432. 81
1829
1830
5, 755,704. 79
6, 014,539.75
1831
4,502, 914.45
1832
1833
2, Oil,777.55
1834
11, 702,905. 31
8,892, 858.42
1835
26,749, 803. 96
1836
1837
46, 708,436.00
1838
37, 327,252. 69
1839
36, 891,196.94
1840
33.157,.503.68
1841
29, 963,163.46
1842
28,685, 111. 08
1843* 30, 521,979.44
1844
39,186, 284. 74
36, 742,829.62
1845
36,194, 274. 81
1846
88, 261,959.65
1847
33, 079,276.43
1848
29,416, 612. 45
1849
32,827, 082. 69
1850
35, 871,753. 31
1851
1852
40.158, 353. 25
1853
43,338, 860.02
50, 261,901. 09
1854
48, 591,073. 41
1855
47, 677,672.13
1856
49,108, 229. 80
1857
46, 802,855. 00
1858
35,113, 334. 22
1859
33,193, 248. 60
1860
32,979, 530. 78
1861
30, 963,857.83
1862
46, 965,304.87
1863
36,523, 046.13
1864
1865 134,433, 738.44
Customs,
Internal revenue.
Direct tax.
Public lands. Miscellaneous.
$4,399, 473.09
$10, 478,10
918. 65
3,443, 070.85
$208,942.81
4, 255,306,50
337, '705.70
21, 410. 88
4, 801,065.28
274, 089. 62
53, 277.97
5, 588,461.26
337, 755. 36
28, 317. 97
415. 98
6, 567,987. 94
475,289.00
$4,836.13
139.29
649.
65
575,491.45
7, 549,
83,540.60
7,106, 06L 93
58, 192, 81
644,357.95
11,963.11
187.
56
449.31
6, 610,
779,136.44
86,
9, 080,932.73
152, 712.10
809, 396. 55 $734,233.97
443.75
778.
93
10, 750,
345, 649.15
1,048,033.43
167, 726,06
534,343.38
12,438, 235. 74
1,500, 505. 86
621,898.89
188, 628,02
206,565.44
10,479, 417.61
131, 945.44
215,179. 69
71, 879. 20
165,675. 69
139, 075.53.
11, 098,565. 33
50, 941.29
50,198,44
487, 526, 79
40, 382. 30
21, 747.15
21, 882,91
540,193. 80
12, 936,487.04
.14,667, 698.17
20,101. 45
51, 121.86
765, 245.73
55,763.86
38, 550.42
15, 845,521. 61
13, 051.40
34,732. 56
466,163. 27
8,190.23
19,159. 21
647, 939.06
16, 363,550. 58
21, 822.85
4, 034.29
442, 253. 33
7, 257,506.62
7, 517. 31
62, 102. 57
8,583, 309:31
7, 430.63
12, 448. 68
696, 548.82
84, 476.84
2, 295.! 5
59, 211.22
7,666.66
1,040, 237. 53
13, 313,222.73
126, 165.17
4, 903.06
8,958, 777. 53
859. 22
710, 427. 78
. 271,571.00
4, 755.04
3, 805.52
835,655.14
13, 224,623.25
164, 398.81
1, 662, 984.82 2, 219,497.36
5, 998,772.08
1,135, 971. 09
285, 282.84
7,282, 942.22
4, 678, 059.07 '2,162,673.41
1, 287,959. 28
273, 782.35
5,124, 708. 31 4, 253, 635. 09
1,717,985.03
36, 300,874,88
109, 761. 08
2,678,100.77
1, 824,187. 04
1,991,226.06
26, 283,348.19
57, 617.71
955, 270.20
17,176, 385. 00
264, 333. 36
2,606,-564.77
57, 098.42
20, 283,608.76
229, 593.63
83,650. 78
3,274,422.78
61, 338. 44
15, 005,612,15
106,200. 53
31,586. 82
1, 635, 871. 61
152, 589.43
13,004, 447.15
69, 027. 63
29, 349. 05
1, 212,966.46
452, 957.19
20, 961.56
67,665.71
I. 803,581. 54
17, 589,761. 94
141, 129.84
34, 242.17
10, 337.71
916, 523.10
19,088, 433.44
127, 603. 60
6, 201. 96
984,418.15
17, 878,325.71
34,663. 37
130, 451.81
2,330.85
1, 21-6,090.56
25, 771.' 35
20, 098,713.45
6, 638, 76
1, 393, 785. 09
94, 588, 66
21, 589. 93
23,341, 331. 77
2,626.90
1,495, 845.26
1, 315,722. 83
19,712, 283.29
19, 885.68
2, 218.81
65, 126.49
23,205, 523. 64
17,451. 54
1, 018, 308.75
112, 648.55
a, 517,175.13
14,502.74
11, 335. 05
22, 681,965. 91
73, 227.77
2,329, 356.14 ,
16,980. 59
12,100. 62
21, 922,391.39
441.77
3,
210,
815.48
584, 124.05
10,506.
Oi
24,224,
6,933.51
270, 410. 61
28,465, 237.24
11,630. 65
6, 791.13
2, 623,381.03
470, 096.67
29, 032,508.91
2,759.00
394 12
3, 967,682.55
480, 812. 32
16,214, 957.15
4,196.09
4, 857, 600,69
19.80
310.
5\).
759, 972.13
19, 391,
14, 757, 600.75
4,263.33
10,459.48
23,409, 940.53
728. 79 24,877,179.86
2,245,902. 23
370.00
290.
39
11,169,
'4 001,444.59
5,493.84
1,687:70
6,776, 236. 52
16,158, 800.36
6,410,348.45
3, 730, 945. 66
2,467.27
924.81
23,137,
979, 939.86
7, 361, 576. 40
2, 553.32 "°"°""755."22
13,499, 502.17
2, 567,112.28
3,411, 818.63
. , 1,682.25
1,004, 054.76
1,365,627.42
3,261.36
14, 487,216.74
1,335,797.52
451, 995. 97
495.00
18,187, 908. 76
103.25
285, 895.92
898,158.18
7,046, 843.91
1,075, 419. 70
1,777.34
2, 059, 939. 80
26,183, 570.94
361, 453.68
2,077,022. 30
3, 517.12
27, 528,112.70
289, 950.13
2,694,452.48
2,897.26
' 26, 712,667. 87
2,498,355.20
220, 808, 30
375.00
23, 747,864.66
612, 610, 69
375.00
3, 328, 642. 56
31, 757,070. 96
685, 379,13
1, 688, 959. 55
28, 346,738. 82
308. 21
686.42
2,064,
1,859,894.25
39,668,
•2, 352,ii305.30
1,185, 166.11
49, 017,567.92
2,043,239.58
464,
249.40
47,339, 326.62
1, 667,084.99
58,931, 865. 52
988, 081.17
8,470,798.39
352.74
64,^224!; 190. 27
1,105,
53,025, ^94.21
827, 731.40
II, 497, 049.07
64,022,1,863.50
8, 917, 644. 93
1,116, 190. 81.
63, 875,
3,829,486. 64
1,259, 920. 88
V905.05
41, 789,
3, 513,.715. 87
1, 352,029.13
I, 620.96
49,565, 824.38
1, 756, 687. 30
1,454, 596. 24
53,187, 511.87
1,778,557.71*
1,088, 530, 25
39,582,i, 125. 64
870,658.54
1, 023,515. 31
49,056, 397.62
152,203.77
1, 795,331.73
915, 327.97
69,059, 642.40
167, 617.17
3,741, 794 38
37, 640,787. 95 1,485,103. 61
588, 333.29
102,316,i, 152.99 109,741,13410 • 475,648.96
30, 291,701. 86
996,553,31
84,928, 260.60 209,464,215.25 1, 200, 573. 03
25,441, 556.00
*FgT t h e half-year from J a %
R E C E I P T S , 1789-1889o
CXLIII
TO J U N E 30,1889, B Y CALENDAR Y E A R S TO 1843 AND B Y FISCAL IYEARS ( E N D E D J U N E
THAT TIME.
i
Dividends.
1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
[1801
1802
1803
1804
1805
1806
11807
|l808
1809
1810
11811
ijl812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
Il823
il824
1825
1826
1827
1828
1829
1830
1831
1832
1833
11834
11835
1836
1837
1838
,1839
1840
1841
1842
1843^
1844
1845
1846
1847
1848
1849
1850
1851
1852
11853
|l854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
1865
N e t ordinary Interest.
receipts.
Premiums.
Receipts
from l o a n s a n d G-ross r e c e i p t s .
Treasury
notes.
Unavailable.
$361, 391. 34 ,$4, 771, 342. 53
•$4,409,95L19
I 8,772,458.76
5,102,498.45
3,669, 960.31
[ 6,450,195.15
1,797,272.01
4, 652, 293.141
4,007,950.781 [ 9,439, 855. 65
5,431,904 87
i 9, 515, 758. 59
3,396,424 00
6,114,534 59 $4,800.00
I 8,740,329.65
320,000. 00
8.377,529.65 42,800.00
i 8,758,780.99
8,688, 780,99
70,000.00
7,900,495.80 '•^8,675.00
200, 000.00 ! 8,179,170.80
7,546,813.31
112, 546; 813.31
5,000,000.00
10, 848,749.101
Il2,413j978.34
1,565,229.24
12,935,330.95 10,125.00
(12,945,455.95
!14, 995, 793. 95
14, 995, 793.95
111,064,097.63
11,064, 097.63
j l l , 826, 307.38
11,826,307.38
13, 560, 693.20
13, 560, 693.20
115,559,931/07
15, 559,931.07
;16,398,
019,26
16,398,019.26
117,060,661.93
17, 060,661.93
I
7,773,473.12
7,773,473.12
12,134,214.28
2,750,000.00
9.384,214.28
114,422,634.09
14,422, 634.09
12, 837,900. 00 122,639,032.76
9,801,132.76
140,524, 844.95
26,184,135.00
300.00
14, 340,409.95
134,559,536.95
23,377,826.00
.85.79
11,181, 625.16
35,220, 671.401 ;50,961,237.60
15,696,916.82 11, 541.74
$32,107.64
9,425,084,91 157,171,421,82
47,676,985.66 68,665.16
686.09
466,723.451 133,833,592.33
202,426.30 33,099,049. 74 267,819.14
8,353. )0 i21,593,936.66
412.62
525,000,00 21,585,17L04
2, 291,00 124, 605, 665.37
675,000:00 24, 603, 374.37
3,000, 824.13 120,881,493.68
40,000.00
1,000,000.00 17, 840,669.55
5,000,324.00 ' 19, 573, 703.72
105,000.00 14, 573, 379. 72
20, 232,427. 94
297, 500. 00 20,232,427.94
20, 540, 666.26
350,000.00 20,540, 666.26
19,
381,212.
79
5,000,000.00
24,381,212.79
^ 350,000.00
5,000,000.001 26,840, 858.02
367,500.00 21,840, 858.02
25,260,434.21
25,260,434 21
402,500.00
22,966,363.961
420,000.00 22,966, 363.96
24,
763,
629.23
24, 763, 629. 23
455,000.00
24,827,627.38
490,000.00 24,827,627.38
490,000.00 24,844,116.51
24,844,116.511
490,000.00 28,526, 820.82
28, 526, 820, 82
490,000.00 31,867,450."-'
31,867,450.66
$1,889.50
474,985.00 33,948,426.251
33,948,426.25
234,349.50 21,791,935.55
21,791,935. 55
506,480.82 35,430,087.10
35,430,087, lOi
292,674,67 50, 826,796.08
50,826, 796. 08
24,954,153.04
27, 947,142.19
2,992, 989.15
63,28a 35
26, 302, 561.74
12,716,820.86
39, 019, 382. 60
31,482,749.61
35, 340, 025. 82 1,458,782.93
3,857,276.21
19,480,115.33
5, 589, 547.511 I 25, 069, 662. 84 37, 469.25
16,860,160.27
13,659,317.381 130, 519,477. 65
19,976,197.251
14,808,735.641 I 34, 784,932.89 11,188.00
12,479,708.
I 20, 782,410.45
8,231, OOL 26
'71,700.83
29,320,707.78
1, 877,18L 35| 131,198,555.73
29,970,105.80
i 29, 970,105. 80
28,251.90
29,699,967.74
I 29,699, 967. 74
26,467,403.16
28,872,399.45 I 55,368,168. 52
30,000.00
28,365.91
35,698,699.21
37,080.00
21,256,700.00 156,992,479.21
30,721,077.50
487,065.48
28,588,750.00 159,796,892.98
43,592,888.88
10,550.00
4,045,950.00 I 47, 649, 388. 88
52,555,039.33
203,400.00 ; 52, 762,704. 25]
4,264.92
49,846,815.60
46,300.00 1 49,893,115. 60
61, 587,031; 68
16, 350.00| (61,603,404.18 103,301.37
22.50
73,800,34L40
2, 001.67, 1 73,802, 343. 07
65,350,574.68
800.00 ! 65, 351, 374.68
74,056,699.24
200.00
74, 056, 899.24
68,965,312.57
3,900.00
68, 969,212. 57
46,655,365.96
23,717,300.00 I 70, 372,665. 96
52,777,107.92
28,287,500.00 ! 81,773, 965.64
709, 357.72
15,408.34
56,054,599.83
20,776, 800.00 I 76, 841,407. 83
10, 008. 00
41,476,299.49
41,861, 709.74 1 83,371, 640.13
33,630. 9^0
51,919,261.09
11,110.81
68,400.00 529,692,460.50 581,680,121. 59
112,094, 945.51
6,000.01
602,345.44 776,682, 361.57 [889, 379, 652. 52
1243,412,971.20
9,210.40
21,174,101.01 1,128,873,945.36 1,393,461,017,57
1322,031,158.191
6,095.11
11,683,446. 8911,472,224, 740.85| 1,|805,939,345.93
$8,028.00
38,500.00
303,472.00
160,000. OOl
160,000.001
80,960.00
79,920.00
71,040.00
71,040.00
88,800. 00
39,960. 00
a a r y 1 t o J u n e 30,1843,
CXLIV
EEPORT OF THE SECEETARY OF THE TREASURY.
T A B L E 0 . — S T A T E M E N T OF T H E R E C E I P T S O F THE UNITEE^
Balance in
the Treasury at
commencement of year.
•
Customs.
1866 $33, 933, 657. 89 $179,046,651.58
1867 160,817, 099.73
176,417,810.88
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879'
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
198,076,437,09
1.58,936,032.87
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
659,449,099.94
Internal revenue. Direct tax.
$309.226, 813" 42 $1, 974, 754.12
266,027,537,43 4,200,233,70
Public lands. Miscellaneous.
$665,031.03 $29, 036, 314.23
1,163, 575. 76 15, 037, 522.15
191,087,589.41 1, 788,145.85
164,464,599.56
1, 348, 715.41
158, 356,460.86
180, 048,426. 63
765, 685. 61 4,020,344. 34
184,899, 756.49
194. 538, 374.44
229,102,88
3, 350,481.76
143, 098.153. 63
206,270,408. 05
580,355.37
2, 388, 646.68
130, 642,177.72
210, 370,286.77
2, 575,714 19
113,729,31414
188, 089, 522.70
315, 254 51 2, 882, 312.38
102,409, 784.90
163,103,833. 69
1,852,428.93
110,007,493.58
157,167,722.35
1,413,640.17
116,700,732.03 ""'93,'m86" 1,129, 466.95
148, 071.984.61
118, 630,407.83
130, 956,493.07
976, 253. 68
110,581,624.74'
130,170,680.20
1,079,743. 37
113, 561, 610. 58
137,250,047.70
924,781.06
186, 522, 064.60 . 124,009, 373.92
30.85
1, 016,506.60
135.264, 385.51
198,159, 676.02
1, 516.89
2, 201,863.17
220,410, 730.25
146.497, 595.45
160,141. 69 4,753,140. 37
214,706,496.93.
144,720,368.98
108,156.^60
7, 955, 864 42
195,067,489. 76
121, 586,072.51
9, 810, 705. 01
70,720.75
181,471, 939.34
5, 705, 986.44
112.498, 725.54
192,905,023.44
116,805, 936.48 *"i68,'239.'94" 5,630,999.34
217,286,893.13
9,254,286.42
118,823,391.22
32,892.05
219,091,173.63
124,296,871.98
1, 565.82 11, 202,017.23
223,832,741.69 . 130,881,513.92
8,038,651.79
6,301,895,590.59
17, 745,403.59
13, 997, 338. 65
12,942,118.30
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
30, 796, 695. 02
21,984, 881.89
24, 014, 055.06
20,989,527.86
26,005,814. 84
24, 674, 446.10
24,297,151.44
3,823,467,842.^36 28,131,990.32 270,117,833. 60 643,049, 425. 73
* Amount heretofore credited to the Treasurer a»
RECEIPTS, 1789-1889.
CXLT
STATES FROM MARCH 4, 1789, TO JUNE 30, 1889, ETC.—Continued^
ordinary
Dividends. Net
receipts.
1866
1867
$519,949,664.38
462,846,679.92
1868
1869
1870
;871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
876,
357,
395,
374,
'364,
322,
299,
284,
290,
281,
257,
272,
333,
360,
403,
398,
348,
323,
336,
371,
379,
387,
453.82
256.09
833.87
104.94
229.91
673.78
090.84
771.41
584.70
.642.00
776.40
136.83
500.98
292.57
,250.28
581.95
869.92
706.38
727.06
277.66
07476
,058.84
Interest.
Receipts .
loans and Gross receipts.
Premiums, from
Treasury
notes.
Unavailable. .
$38,0a3,055.68 $712,851,553.05 $1,270,884,173.11 $172,094 20'.
27,787,330.35 640,426,910.29 1,131,060,920.56 721,827.93
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
405,776.58
317,102.30
1,505,047.63
110.00
2,675,918.19^
625,111,433,20 1,030,749, 516.52
238,678,081.06 6d9,621, 828.27 *2,'676.'73
285,474,496.00 696,729, 973.63
268,768,523.47 652,092,,468.36 *3,396,18
305,047,054.00 679,153. 921.56 *18,228.35
214,931,017.00 548,669, 221.67 *3,047.80
439,272,535.46 744,251, 291.52 12,691.40
387,971,556.00 675,971, 607.10
397,455,808.00 691,551,,673.28
348,871,749.00 630,278, 167.58
404,581,201.00 662,345, 079.70
792,807,643.00 1,066,634,,827.46
211,814,103.00 64'5,340,,713.98
113,750,534.00 474,532,,826.57
120,945,724.00 624,470,,974.28
555,942,564.00 954,230, 145.95
206,877,886.00 555,397,,755.92 *1, 500.00
245,196,303.00 56^,887,,009.38 47,097.65
116,314,8.50.00 452,754,,577.06
154,440,900.00 525,844,,177.66
7,997.64
285,016,650.00 664,282,,72476
245,111,750.00 632,161,,408.84
$9,720,136.29 11,076,382,818.89 $485,224.45 204,259,220.83 12,640,890,468.84 23,922,017,733.01 2.715,461.8^
unavailable and since recovered and charged to his account.
REPORT OF T H E SECRETARY OF THE TREASURY.
€XLVI
T A B L E P.—STATEMENT
O P E X P E N D I T U R E S O F T H E U N I T E D STATES FROM M A R C H 4,
J U N E 30) FROM
Navy.
War.
Year.
Indians.
Pensions.
Miscellaneous.
•
1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
,
$632, 804.03
.- ..
,
.'-.. = ..
-
'.
1808.
1809
1810
1811
1812.
1813
o
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
f
1839
'
,
1840
1841....
1842
1843*
1844
1845
1846
1847.........
1848
1849
1850.
„....
18.51
1852
1853
1854
1855
„.».'..
1856
1857
:
1858
,
1859
I860
1861
1862...
1863
1864
1,100, 702. 09
1,130,249. 08
2, 639,097.59
2, 480,910.13
1,260,263.84
•
1, 039, 402.46
2, 009, 522.30
2, 466, 946. 98
2,560,878.77
1, 672, 944.08
1,179,148.25
822, 055. 85
875, 423.93
712, 781.28
1. 224,355.38
1, 288, 085.91
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, 350, 806.86
14, 794,294.22
16, 012, 096.80
8, 004, 236.53
5, 662, 715.10
6, 506, 300.37
2, 630, 392.31
4,461,291,78
3,111,981.48
3,096,924.43
3,-340,939.85
3,659, 914.18
3,943,194 37
3,948,977.88
4,145, 544.56
4,724,291.07
4, 767,128.88
4, 841, 835. 55
5,446,034. 88
6, 704, 019.10
5, 696,189. 38
"5,759,156.89
11,747, 345.25
13, 682,730.80
12, 897,224.16
8, 916, 995. 80
7, 095, 267.23
8,801, 610.24
6, 610, 438.02
2,908,671.95
5, 218,183.66
5, 746, 291. 28
10,413, 370.58
35,840,030.33
27,688, 334. 21
14,558,473.26
. 9, 687, 024. 58
12,161, 965.11
8, 521, 506.19
9, 910, 498. 49
11,722, 282.87
14, 648, 074; 07
16, 963,160.51
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
$175, 813.88
$27, 000. 00
109,243.15
13,648.85
80, 087.81
27, 282. 83
81, 399. 24
13,042. 46
$61,408. 97
68,673.22
23, 475.68
410, 562. 03
100, 843. 71
113,563.98
274, 784. 04
92, 256. 97
382, 631.89
62,396.58
104,845.33
16, 470. 09
1,381,347.76
95, 444.03
20, 302.19
2, 858, 081. 84
64,130.73
31.22
3,448,716.03
73, 533.37
9, 000. 00
2, 111, 424.00
85, 440. 39
915, 561.87
94, 000. 00
62,902.10
60,000.00
1, 215, 230. 53
80,092.80
116, 500. 00
1,189,832.75
81, 854. 59
196, 500. 00
1,597,500.00
81, 875.53
1,649,641.44
234,200.00
70, 500.00
1, 722, 064.47
205, 425.00
-82.
576.04
i, 884,067.80
213,575.00
87, 833. 54
2,427, 758.80
337,503.84
83,
744.16
1, 654, 244.20
177,625.00
75, 043. 88
1, 965. 566. 39
151, 875.00
91,402.10
3, 959, 365.15
277, 845. 00
86,989. 91
6,446, 600.10
'167, 358.28
90,164.
36
167,394,86
7, 311, 290.60
69, 656.06
530,750.00
8, 660, 000. 25
188,
804
15
3,908,278.30
274, 512,16
297, 374,43
3,314,598.49
319,463. 71
890,
719.
90
2, 953, 695. 00
505,704.27
2, 415, 939. 85
3,847, 640.42
463,181.39
3,208, 376. 3i
4,387,990.00
315, 750.01
242,817.25
3, 319, 243. 06
477, 005.44
1,948,199. 40
2, 224,458.98
575, 007.41
2, 503, 765.83
1,780, 588.52
380, 781. 82
429, 987. 90
1,499, 326. 59
2, 904, 581. 56
724,106.44
1, 308, 810. 57
3, 049,083.86
743,447..83
1, 556, 593. 83
. 4,218,902.45
750, 624.88
976,138.86
4,263,877.45
705, 084.24
850, 573.57
3, 918,786.44
949, 594. 47
3,308, 745.47
576, 344. 74
3i 239, 428.63
622, 262. 47
1, 363, 297.31
3, 856,183. 07
930, 738.04
1,170,665.14
3, 956,370.29
1,184,422.40
1, 352,419.75
3, 901, 356.75
4,589,152.40
1,802,980.93
3, 956, 260. 42
1,003,953.20
3, 364,285.30
3, .864, 939. 06 1,706, 444.48
1, 954, 711. 32
5, 037, 022. 88 2, 882, 797. 96
5, 807, 718.23
2, 672,162.45
6, 646, 914. 53 4, 348, 036.19
2,156,057.29
6,131, 580. 53
5, 504,191. 34
6,182,294 25
2, 528, 917. 28 3,142, 750. 51
2,603,562.17
6,113, 896. 89
2,331, 794 86
2, 388, 434.51
6, 001, 076. 97 2, 514, 837.12
1,378,931.33
8, 3i97,242.99
1,199, 099.68
3, 727, 711.53
839, 041.12
578, 371. 00
6, 498,199.11
1, 256, 532.39 . 2, 032, 008.99
6,297,177.89
1, 539, 351. 35 2,400,788,. 11
6,455, 013.92
1, 027,693. 64 1,811,097.56
1, 744, 883.63
1,430, 411.30
7, 900, 635.76
1, 227, 496.48
1,252, 296.81
9,408,476. 02
1, 328, 867. 64
9,786,705.92
1, 374,161.55
1,866, 886. 02
1,663,591.47
7, 904, 724.66
2,293,377.22
8, 880, 581.38
2, 829, 801.77
2, 401, 858.78
8, 918. 842.10
3, 043, 576. 04•
1^756,306.20
11, 067, 789. 53
3, 880,494.12
1,232,665. 00
10,790, 096.32 - 1, 550,339. 55
1,477, 612.33
13, 327, 095.11
2,772, 990 78
1,296, 229. 65
14, 074, 834. 64 2, 644, 263. 97
1,310,380.58
12, 651, 694. 61
4,354,418.87
1,219, 768. 30
14, 0.53, 264. 64 4, 978, 266.18
,1,222,222.71
14, 690, 927. 90
3,490, 534 53
2, 991,121. 54 1,10d,-802. 32
11, 514,649. 83
1, 034, 599. 73
2.865, 481.17
12, 387,156. 52
2, 327, 948. 37
42,640. 353. 09
852,170.47
3,152, 032. 70
63,261, 235.31
1, 078, 513. 36
85,704,963.74 ^ 2,629,975.97
4,985,473.90
'
$1,083,971.61
4,672, 664.38
511,451.01
750, 350.74
1,378, 920.66
801, 847. 58
1, 259, 422. 62
1,139, 524. 94
1, 039, 391. 68
1, 337, 613. 22
1,114, 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, 215, 803.79
1,101,144. 98
1, 367, 291. 40
1, 683, 088. 21
1, 729, 435.61
2, 208, 029.70
2, 898,870. 47
2,989,741.17
3,518,936.76
3, 835,839. 51
3,067,211.411
. 2,592,021.94
2,223,121.54
1,967,996.24
2, 022, 093.99]
7,155, 308. 81
2, 748, ,544 89
2,600,177.79
, 2,713,476.58
3, 676, 052.64
3, 082, 234. 65
3,'237, 416.04
3, 064, 646.10
4, 577,141.45
5,716, 245.93|
4, 404, 728.951
.4,229,698.53
5,393,279.72
9, 883, 370.27
7,160, 664 76!
5,725, 990. 89
5,995,398.98
6, 490, 881.45
6, 775, 624.61!
3, 202,713. 00
5,645,183.86
5, 911, 760.98'
6, 711, 283. 89!
6, 885, 608. 35
5, 650,851.25
12, 885, 334.24
16, 043, 763. 36
17, 888, 992.18
17,504,171.45
17, 463, 068. 01
26, 672,144: 68
. 24,090,425.43
31, 794, 038.87
28, 565. 498.77
26,400, 016.42
23,797,544.40
27,977,978.30
' 23,.327, 287. 69
21, 385, 862. 59
23,198, 382. 37
27, 572, 216.87
* For the half year from Jan
CXLVII
E X P E N D I T U R E S , 1789-1889.
1789, TO J U N E 30, 1889,
THAT T I M E .
lYear.
B Y CALENDAR YEARS TO 1843 AND B Y F I S C A L YEARS ( E N D E D
Net ordinary exPremiums.
penditures.
$1, 919,589. 52
5, 896,258. 47
1, 749,070. 73
3, 545,299. 00
4,362, 541.72
2, 551 303.15
2, 836,110.52
4, 651,710.42
6, 480,166.72
7,411 369. 97
4, 981,669. 90
3, 737,079. 91
4, 002,824.24|
4,452, 858. 91
6, 357,234. 62
6,080, 209.36
. 4,! .572. 89
6, 504,338. 85
7,414, 672.14
5, 311,082. 28
5, 592,604. 86
17, 829,498. 70
28, 082,396.92
30,127, 686. 38
26, 953,571. 00
23, 373,432. 58
15,454, 609. 92
13, 808,673.78
16, 300,273.44
13,134, 530. 57
10, 723,479. 09, 827,643. 51
9, 784,154. .501
15, 330,144.71
11, 490,450. 90
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. li
18,425, 417. 25
17,514, 950.28
30,868, 164 04
37,243, 214. 24
33, 849,718.08
26,496, 948. 73
24,139, 920.11
26,196, 840. 29
24,361, 336. 59
11, 256,508.60
20,650, 108. 01
21, 895,369. 61
$18,231.43
26,418, 459. 59
53,801, 569. 37
45, 227,454. 7'
39, 933,542. 61
82, 865.81
37,165, 990. 09
44, 054,717.66
69, 713.19
40, 389,954 56 170i 063.42
44, 078,156. 35 420,498. 64
.51,967, 528. 42 2, 877, 818.69
56,316, 197. 72 872,047.39
66, 772,527.64
385, 372. 90
66, 041,143. 70
363, 572.39
72, 330,437.17
574,443.08
66, 355,950. 07
60, 056,754.71
62, 616,055.
896.81
456, 379,575. 56
694, 004,676.14
811, 283,
n a r y 1 t o J u n e 30, 1843.
1791
1792
1793
1794
1795
1796
1797
1798
1799
1800
1801
1802
1803
1804
1805
1806
1807
1808
1809
1810
1811
1812
1813
1814
1815
1816
1817
1818
1819
1820
1821
1822
1823
1824
1825
1826
1827
1828
1829
1830
1831
1832'
1833
1834
1835
1836
1837
1838
1839
1840
1841
1842
18431844
1845
1846
1847
1848
1849
1850
1851
1852
1853
1854
1855
1856
1857
1858
1859
1860
1861
1862
1863
1864
FI 89
X
Interest.
$1,177, 863.03
2, 373, 611. 28
2, 097, 859.17
2,752, 523.04
2, 947, 059. 06
3, 239, 347,68
3,172, 516,73
2, 955, 875.90
2, 815, 651,41
3,402, 601. 04
4, 411, 830.06
4, 239, 172.16
3, 949, 462. 36
4,185, 048.74^
2, 657, 114. 22
3, 368, 968.26
3, 369, 578. 48
2, 557, 074. 23
2,866, 074, 90
3,163, 671. 09
2,585, 435. 57
2,451, 272. 57
3, 599, 455.22
4, 593, 239. 04
5,990, 0,90. 24
7, 822, 923.34
4, 536, 282. 55
6,209, 954.03
730. 56
5, 211, 004 32
5,151, 073. 79
5,126, 788. 79
5,172, 475. 40
4, 922, 557.93
4,943, 757.40
4, 366, 542.95
3, 975, 071. 51
800.60
843. 23
542, 574. 93
912, 748. .74
373, 561.50
772, 796. 87
303, 152. 98
202, 863.08
57,
Public d e b t
$699, 984 23
693, 050.25
2, 633,048. 07
2, 743,771.13
2,841, 639. 37
2, 577.126.01
2,617, 250.12
976, 032. 09
1, 706,578. 84
1,138, 563.11
2, 879,876.98
5,294, 235. 24
3, 306,697.07
3, 977,206.07
4, 583,960. 63
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,v 139. 59
20, 886,753.57
15, 086,247-59
2,492, 195. 73
3, 477,489. 96
3, 241,019.83
2, 676,160.33
607, 541. 01
11, 624,835. 83
7,728, 587. 38
7,065, 539. 24
6, 517,596. 88
9, 064,637. 47
9, 860,304.77
9,443, 173.29
14,800, 629.48
17, 067,747.79
1, 239,746.51
5,974, 412.21
328. 20
21, 822.91
14, 996.
5, 590, 723. 79
1.48
833. 89
10, 718, 153.53
3, 912, 015 62
174, 598.08
284, 977. 55
5, 315, 712.19
773, 549.85
7. 801, 990. 09
523, 583.91
338, 012. 64
,833, 452.13
11,158, 450. 71
1,
7, 536, 349.49
1,040, 458.18
842, 723.27
371, 100.04
1,119, 214.72
5, 600, 067.65
2, 390,765. 88 13, 036, 922. 54
12, 804, 478. 54
3, 565,535.78
3, 656, 335.14|
3,782, 393.03
3, 696,760. 75
654, 912. 71
2,152, 293.05
4, 000,297,80
6,412, 574,01
3, 665,832. 74
3, 070,926. 69 17,556, 896.95
6,662, 065.86
2, 314,464. 99
3, 614, 618. 66
1, 953,822. 37
3, 276, 606. 05
1, 593,265.23
7, 505, 250. 82
1,652, 055. 67
2, 637,649. 70 14, 685, 043.15
120.94
3,144,
13, 854, 250.00
4, 034,157. 30 18, 737, 100. 00
344
84
96, 097, 322. 09
13,190,
24, 729,700. 62 181, 081, 635.07
421.
69
53, 685,
430, 572, 014.031
Gro'ss expendi. tures.
$3, 797,' 436.78
8, 962,» 920.00
6,479j 977.9'
9 041; 593.17
.10,151j 240.15
8.367] 776.84
8,625 877. 37|
8,583 618.41
11, 002 396. 97
11, 952| 534.12
12, 273! 376. 94
13, 270; 487.31
11, 258i 983:67
12,615; 113.72
13, 598, 309. 47
15,021, 196.26
11,292 292.99
16,762, 702. 04
13, 867i, 226.30
13, 30Q, 994. 49
13, 592, 604. 86
22, 279, 121. 15
39,190, 520.36
38, 028, 230. 32
39,582, 493.35
48,244, 495. 51
40, 877, 646.04
35,104, 875.40
24, 004, 199.73
21, 763, 024 85
19, 096, .572.69
17, 676, 592.63
15,314, 171. 00
31, 80^, 538. 47
23, 585, 804.72
24,103, ?98. 46
22, 656, 764.04
25,459,' 479. 52
25,044, 358.40
24, 585, 281. 55
30, 038, 446.12
34, 35^, 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, 6i;4, 936.15
28, 226, 533. 81
31,797, 530.03
32, 9,3;6, 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
44, 604, 718. 26
48.4t6, 104.31i
46, 712, 608. 83|
54, 577, 061. 74
75,473, 170.75
66, 164, 775. 9S
72, 726, 341. 57
71, 274, 587.37
82,062, 186. 74
83, 678, 642. 92
77, 055, 125.65
85, 387, 313.08
565,6t)7, 563. 74
899, 815, 911,25
295, 541, 114 86
i
I
B a l a n c e in ,
Treasury at
the end of
the year.
$973, 905.75
783, 444 51
753, 661.69
1,151, 924.17
516, 442. 61
888, 905.42
1,021, 899.04
617, 451.43
2,161, 867.77
2,623, 311.99
3, 295, 391.00
5, 020, 697, 64
4, 825, 811. 60
4,037, 005.26
3, 999, 388. 99
4,538, 123.80
9,643, 850.07
9, 941, 809. 96.
3, 848, 056.78
2,672, 276.57
3, 502, 305. 80
3, 862, 217.41
5,196, 542. 00
1, 727, 848. 63
13,106, 592. 88
22, 033, 519.19
14,989, 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, 914.4.52, 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
33.157, 503. 68
29, 963, 163. 46
28, 685. 111. 08
30, 521, 979.44
39,186, 284.74
36, 742, 829.62
36,194, 274. 81
38, 261, 959. 65
33, 079, 276.43
29,416, 612.45
32, 827, 082.69
35,.871, 753. 31
40.158, 353. 25
43, 338, 860. 02
50, 261, OOL 09
48, 591, 073.41
47, 777, 672.18
49,108, 229. 80
46, 802, 855. 00
35,113, 334.22.
33,193, 248.60
32, 979, 530. 78
30, 903, 857. 83
46, 965, 304.87
36, 523, 046.13
134, 433, 738.44
CXLYIII REPORT OF THE SECRETARY OF THE TREASURY
T A B L E P . — S T A T E M E N T OF THE E X P E N D I T U R E S OF T H E
War.
Year.
1865
1866
T^avy.
$1,030, 690,400. 06 $122, 617,434. 07
283,154, 676.06
43; 285, 662.00
, Indians.
Pensions.
$.5, 059, 360. 71 $16,347,621.34
3, 295; 729.32 , 15,605,549.88
UNITED
Miscellaneous
$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
3, 572, 260, 092. 35
95, 224, 415.63
123,246,648.62
78, 501, 990.61
57,655,675.40
'35, 799, 99L 82
35,372,157.'20
46, 323,138.31
42, 313, 927.22
41,120, 645.98
38,070,888.64
37,082,735.90
32,154,147.85
40.425.660.73
38,116,916.22
40,466,460.55
1881..=00
1882
43,570,494 19
1883... = .
=o
48.911,382.93
1884
= . . . . = .=
39,429,603.36
42,670,578.47
1885
1886 . . = . . . =
===
34.324.152.74
1887
38, 561, 025. 85
1888
.. ==o.....
38, 522,436.11
1889
.
44,435, 270. 85
717, 629, 808.56
31, 034, Oil. 04
25, 775, 502.72
20,000,757.97
21, 78C, 229.87
19,431,027.21
21, 249,809.99
23,526,256.79
30,932,587.42
21,497,626.27
18, 963,309.82
14,959,935. 36
17,365,301.37
15,125,126.84
13,536,984 74
15,686,671,66
15,032, 046.26
15,283,437,17
17,292,601.44
16, 021,079. 67
13.907,887.74
15,141,126.80
16, 926,437.65
21, 378, 809.31
103,422, 498. 03 119, 617, 393. 88 644, 323, .323.. 85
51,110, 223.72
4, 642, 531.77
20, 936, 551.71
53, 009, 867.67
4, 100, 682. 32
23, 782, 386. 78
56, 474,061. 53
7,042,923. 06
28,476, 621. 78
53, 237, 461.56
3,407, 938.15
28, 340, 202.17
60. 481, 916.23
7,426, 997. 44
34,443, 894. 88
60,984, 757.42
7,061,728.82
28, 533, 402.76
73,328,110.06
7,951,704.88
29,359,426.86
85,141, 593. 61
6, 692,462.09
29, 038,414.66
71, 070, 702.98
8, 384,656.82
29,456,216.22
73,599,66L04
5,966, 558.17
28,257,395.69
58,926, 532.53
5,277,007.22
27,963,752.27
58,177,703.57
4,629,280.28
27,137,019.08
65,741, 555.49f
5,206,109.08
35,121,482.39
56, 777,174.44
54, 713,529.76
5, 945,457.09
50,059, 279; 62
64,416,324.71
6, 514,161.09
61, 345,193.95
57,219,750.98
9, 736,747.40
66, 012, 573.64
68,678,022.21
7,362,590.34
55,429, 228.06 . 70, 920, 433.70
6.475,999.29
56,102,267.49
87,494,258.38
6,552,494.63
63,404, 864.03
74,166, 929.85
6,099,158.17
75, 029,101.79
85,264, 825. 59
6,194, 522.69
72,952,260.80
6, 249, 307. 87 i 80,288,508.77
80, 664, 064 26
. 6,892, 207.78
87,624,779.11
4, 684, 560, 437, 53 1,159,478, 373. 67
249,235, 724 48 1,142, 537,132.03 2,177, 097, 871. 50
\
11868
8 6 7 . . . . . o >... = .
1869
=
1870...=
1871..00..0
1872
„
=
1873..
.,
= ,
1874
1875
1876
1877
,....... ==
1878...=
o=== ==i
1879
.
... = ==
1880... =
. . . = = = .!
T o t a l , oooooo
119,607, 656. 01
*9, 737.87
643, 604, 554 33
• *718, 769: 52
* Outstanding
S'OTK.—This statement is made from warrants paid by the Treasurer up to June 30. 1866. The
E X P E N D I T U R E S , 1789-1889.
CXLIX.
STATES FROM MARCH 4, 1789, TO J U N E 30, 1889, ETC.—Continued.
ordinary ex- Premiums.
Year. Netpenditures.
Interest.
Public debt.
. 1
B a l a n c e in
Grross expendiTreasury at
tures.
the end of
the year. ,
1865 $1,217,704,199.28 $1,717, 900.11 $77, 395, 090, 30 $609, 616,141. 68$1, 906,433J 331.37 $33, 933.657. 89
1866
385,954,73L43
58, 476. 51 133,067,624 91 620,263,249.10 1,139,344! 08L 95 165,301,654.76
5,152,771,550.43 7,611,003. 56 502, 689,519.27 2,374, 677,103.12 8, 037,749i 176.38
*4, 484, 555. 03
*2, 888.48
*4,481, 566.24
noo. 31
*4,484," 555* 03
1
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
5,157,253,116.67 7, 611,003. 56
202,947, 733. 87 10, 813, 349. 38
229, 915, 088.11 7, 001,151. 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, 856.19 6, 958, 266,76
180,488, 636.90 5,105,919.99
194,118, 985.00 1,395,073.55
171, 529, 848.27
164, 857, 813. 36
144,209, 963.28
134,463,452.15
161, 619, 934 53
169, 090, 063.25 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, 53
220,190, 602. 72
214, 938, 951.20 .'8," 270," 842." 46
240, 995,131. 3117, 292, 362.65
502, 692,407,75 2,374, 677,203.48
143, 781, 59L 91 735, 536, 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
125,576,565.93 399,503,670.65
117, 357, 839,72 405, 007, 307. 54
104,750,688,44 233,699, 352.58
107,119,815.21 422, 065, 060, 23
103,093, 544.57 ' 407,377,492.48
100, 243, 271. 23 449, 345,272.80
97,124, 511.57 323,965,424.05
102, 500, 874. 65 353, 676, 944.90
105, 327,949.00 699,445, 809.16
95, 757,575.11 432,590,280.41
82, 508,741.18 165,152, 335.05
71,077,206.79 . 271, 646, 299.55
59,160,131. 25 590,083,829,96
54, 578, 378. 48 260, 520, 690.50
51. 386, 256.47 211, 700, 353. 43
50, 580,145.97 205,216, 709.36
47,741,577. 25 271,901, 321.15
44, 715, 007.47 249,760. 258.05
41, 001,484. 29 318,922,412.35
8, 042,233} 731. 41 160,817.099.73
1,093,079; 655.27 198, 076; 537. 09
1, 069, 889; 970.74 158, 936, 082.87
684, 777, 996.11 183,781,985.76
702, 907', 842. 88 177, 604,116. 51
691, 680, 858. 90 138,019,122.15
682,525,270. 21 134,666,001.85
524,044,597.91 159,293,673.41
724,698,933.99 178, 833, 339. 54
682, ooo; 88.5. 32 172, 804, 061.32
714,446, 357. 39 149 909, 377. 21
565, 299, 898. 91 214,887, 645.88
590, 641,271. 70 286, 591, 453. 88
966, 39^, 692.69 386, 832, 588. 65
. 700,233,238.19 231, 940. 064.44
425,865,222.64 • 280,607,668.37
529, 627, 739.12 275,450, 903.53
. 855,491,967.50 374,189,081.98
504,646,934 83 424, 941,403.07
471, 987, 288.54 521, 794, 026. 26
447, 699,847. 8b 526,848,755.46
539, 833, 501.12 512,851,434.36
517, 685, 059.18
449, 099,94
618, 2li, 390. 60 659,
673,399,118.18
9,412,909,539.21 94, 992, 568. 98 2,608,429, 350.76 11; 129,571,694 06 23, 245, 903,153. 01
1
warrants.
i
outstanding warrants are then added, and the statement is by warrants issued from t h a t date.
CL
REPORT OF THE SECRETARY OF THE TREASURY.
T A B L E Q . - •RECEIPTS AND DISBURSEMENTS B Y U N I T E D STATES ASSISTANT T R E A S URERS DURING T H E FISCAL Y E A R ENDED J U N E 30, 1889.
BALTIMORE.
Balance June 30,1888....-
=
-
= -..a..o
oo.»o 110,891,640.65
RECEIPTS.
On account of customs
...o
........=
o.»
On account of internal revenue
i
On account of gold certiticates
On account of certijacates of deposit, act June 8, 1872
=
^
On account of Post-Office Department.
On account of transfers of funds
On account of transfer account of Treasurer United States
=.
On account of patent fees
=
On account of disbursing officers
= .,....=0. = .. =
On account of semi-annual duty
On account of the Secretary of the T r e a s u r y . . . .
=
On account of repayments
.o-,
" Onaccount of redemption and exchange...*.000.
On account of miscellaneous... = 00..=. =»
.......\...
o.....
$2,963,919.58
1.56
1,545,000.00
6,200,000.00
572,394.22
8, 953, 565.01
1,277,291.84
51.00
3,193, 951.30
15, 578. 94
244.96
31, 892. 85
7,334,844.00
8,711.18
/
>
32,097,446,44
42,989,08i 08>
DISBURSEMENTS.
On account of Treasury drafts
„ = = o,.oo
On account of Post-Office drafts...
.o.....
= 00..-00
On account of disbursing officers
o
On account of the Secretary of the Treasury
On account of interest
..o
On account of redemption and exchange
:.....
On account of gold certificates
=
On accouutof transfers of funds....
=
On account of transfer account of Treasurer V nited States
o»..»-»
On account of bonds redeemed
o... = o=
On account of certificates of deposit, act of June 8, 1872
On account of miscellaneous
b-...
= .=
Balance June 30, 1889
o
4,097,630.28
649,927.42
3,025,918.65
110.46
425,702.41
7,331, 344. 00
70,000.00
6,643,529.00
1,144,434.70
571, 334.00
7,370, 000.00
1, 004.19
oo--.c-»a-oo„.o-.
...1.
.
31,330,935.11
11,658,15L 98
BOSTON".
Balance June 30.1888..-000......o..00
oc.,....oo
o^*,.ooo.o«».*o,.ooooo,
$17,260,766:48
RECEIPTS.
On account of customs
.=
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 0 f disbursing offi cers
On account of semi-annual duty
=
On account of the Secretary of the Treasury
On account of redemptions
On account of miscellaneous
.=
..o
=
0..-0 $22,575,980.00 .
=
1, 080, 000. 00
2,472,399.91
,
20,471,401.47
1,889,000.00
9,144.40
20, 972, 47H. 23
184, 212. 20.
1,257.42
6, 727, 913.00.
1, 916, 995. 54
78, 900,782.17
96,161,548.65
• DISBURSEMENTS.
On account of Treasury drafts
...:
5,376,349.32
On account of Post-Office drafts
2,489,516.27
On account of disbursing accounts....
23,287,879.66
On account of gold coin exchanges
1,003,37.5.00
On account of interest
o^ 4,102,560.09
On account of bonds purchased
8,444,109.05^
On account of special account of Secretary of Treasury
^
977.69'
On account of silver certificates redeemed800, 710.00
On account of transfers
• 16, 358, 635.95
On account of United States notes mutilated
,....
887,540.00
On account df certificates of deposit, act June 8^1872....
2,120,000.00
On account of standard dollars exchanged
t
2.819,473. 00
On account of fractional currency (silver and minor coins) redeemed..
1,170, 540. 00
On account of miscell aneous
8, 916.70
Balance June 30,1889
.i.^^.^o^.
^
78,870,582.73
17,290,965.92
RECEIPTS AND DISBURSEMENTS BY SUB-TREASURIES.
CLI
TABLE Q . — R E C E I P T S AND DISBURSEMENTS, ETC.—Continued.
CHICAGO.
I
Balance June 30,1888
......I
RECEIPTS.
On account of customs
On account of internal revenue
:
On account of sales of public lands
On account of certificates of deposit, act June 8,1872
On account of Post-Office Departnient
On account of transfers:
Treasurer's
.^
Standard dollars
On account of patent fees
On account of disbursing officers
..'
On account of semi-annual dutv
On iaccount of the Secretary of the Treasury
On account of gold certificates...
,
On account of repayments
On account of redemptions silver exchanges
On account of miscellaneous
,
$6, 006,|097. 55
882,1257. 67
78.!i21.17
570,i000. 00
5,976,!306.36
[
37,955,|460. 81
3, 394,j675.00
4,;445.75
12, 652,! 928. 57.
24,|77L30
1,434. 20
3,345,1000.00
39,!044. 96
4, 685,| 125.00
7,1094.28
1
*
I
of Treasury drafts
of Post-Ofldce drafts
of disbursing accounts
of gold certificates
of special deposit account of Secretary of Treasury..
of interest .,
of silver exchanges
of gold certificates
of silver certificates
i
,
of transfers
-.
of United States notes mutilated
of certificates of deposit, act June 8,1872
j.
CINCINi^ATI.
13,801,513.69
I
^
...T.TT^T^.ZJ^.
RECEIPTS.
Onaccountofcustoitts
On account of internal revenue
»
On account of certificates of deposit, act June 8,1872
On account of Post-Office Department
:
.•
On account df transfers:
Treasurer's
.:
Standard dollars
,
On aceount 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 redemption and exchange
On account of miscellaneous
75,622,762.62
85,986,769.87
13,520,1^619.40 .
6, 216] 221.62
12, 323j 696. 07
405j00().00
.
8; IJ 6. 47
718j 605. 70
4,677i635.00
11,103,000.00
2, 340; 000. 00
16,499; 3(1. 92
4,073,000.00
'
300; 000.00
\
72,185, 256.18
Balance June 30, 1889...
Balance June 30,1888
$10', 364, 007.25
'
DISBURSEMENTS.
On account
On account
On account
On'account
On account
On account
On account
On account
On account
On account
On account
On account
-'^
'
$12,547,340.99
j
,.
v
$2,076,212.32
j 170. 80
2, 510, 000.00
1, 764, 914.27
I
8,092,009.42
1,860,000.00
i 650. 40
2,107,885.81
30,198.35
5,170.00
26, 915.12
3,839, 81.5.00
22,109.15
22,336, 050.64
34,883,391.63
DISBURSEMENTS.
Onacconntof
On accountof
On account of
Onaccountof
On account of
Onaccountof
On accountof
On account of
On account of
On account of
On account of
Onaccountof
Treasury drafts
Post-Office drafts
disbursing officers
interest,
redemption and exchange
<
gold certificates
silver certificates
A
transfers
United States notes mutilated
certificates of deposit, act June 8,1872
'
fractional currency (sUver and minor coins) redeemed..
miscellaneous
;
f
2,212,703.03
1,968,992,67
2,176, 806. 04
1,007,232.00
3, 095, 916.00
206,000.00
945,000.00
5, 658, 324. 61
1, 20^5, 000. 00
2, 260, 000.00
7.59, 373, 00
232,011.25
21, 707, 358.60
I '
Balance June 30,1889....
...'
13,176,033.0
€LII
REPORT OF T H E SECRETARY OF THE TREASURY.
TABLE Q . — R E C E I P T S AND DISBURSEMENTS, ETC.-—Continued.
^
N E W : ORLEANS.
Balance June'30,1888
$15,753,210.78
RECEIPTS.
On account of customs
On account of internal revenue — :
On account of sale of public lands
:
On account of Post-Office Department
On account of transfers:
^
Treasurer's
1
Standard doUars and fractional silver
On account of patent fees
:
On accountof disbursing officers
Onaccountof assay office—bullion
.•
On account of semi-annual duty
Onaccountof the Secretary of the Treasury
On account of repayments
.....'.
On accountof redemption and eixchange
On account of miscellaneous
^
$3,066,063.84
1,547.71
110,161. 69
961,044 56
17,417,893.22
6,19,4,470.00
252.00
* 3,593,927, 90
2,290.18
19,504.44
1,704.07
152,439.46
4,151, 275,00
21,048.13
'
35,693,622.20
51,446,832.98
DISBURSEMENTS.
On account of
On account of
Onaccountof
Onaccountof
Onacconntof
Onacconntof
On accountof
On account of
On account of
On account of
Treasury drafts
:
Post-Office drafts
^
disbursing officers
.,
interest
redemption and exchange
gold certificates
silver certificates
..•
transfers
United States notes mutilated
.special deposit account of Secretary of the Treasury...
3,881,755.50
1,082,182.89
3,452,140.84
245,998.19
4,151,275.00
237,560.00
1,806,283.00
16,726,463.25
3,002,157.00
6, 072.98
Balance June 29,1889
34, 591, 888. 65
16,854,944.83
PHILADELPHIA.
Balance June 30, 1888
-
$25,160,752.9«
RECEIPTS.
'On account of customs . . :
:.
:
$22,186,963.46
-On account of internal revenue
100, 85'6. 68
'On account of transfer account^of Treasurer United States
3,301, 079. 85
On account of special deposit account of Secretary of the Treasury.. *
585.32
Onaccountof certificates, act J u n e 8 , 1872
9,060,000.00
Onaccountof Post-Office Department
2,784,46424
• On account of transfers of funds'.
17, 567, 363.32
' On account of patent fees
2, 253.70
On account of disbursing officers,
13,151, 339. 07
On accountof redemption and exchange
14, 273, 645.00
On account of semi-annual duty
59, 215.02
'Onaccountof gold certificates
90,000.00
• On account of suspense account
^
770.47
On account of mis(5ellaneous
,
1, 218,121.50
—
,
83,796,657.63
108,957.410.59
DISBURSEMENTS.
On account of
Onaccountof
Onaccountof
Onaccountof
On account of
ury
On account of
On account of
On account of
Onaccountof
On account of
On account of
On account of
^
Treasury drafts
Post-Ofl^ce drafts
,
disbursing accounts
^
redemption and exchange
special deposit account of the Secretary of the Treas:
i
-..suspense account
interest
bonds redeemed
transfers of funds
•
gold certificates
cer; ificates of deposit, act J u n e 8, 1872
.'
transfer account of Treasurer United States
Balance June 30, 1 8 8 9 . . . . . . . . . .
11, 331, 755. 93 '
2,701,339.78
13,359,029.89
14,276,692.00
2,467.52
'677.29
1, 951,748.77
267, 514. 30
33,255.308.26
45,000.00
9, 090, 000.00
2,070, 636.04
88,352,169.78
20,605,240.81
RECEIPTS AND DISBURSEMENTS BY SUB-TREASURIES.
CLim
TABLE Q.—RECEIPTS AND DISBURSEMENTS, ETC.—Continued.
N E W YOEK.
Balance June 30,1888
,|
,
] . . . $173,032,049.15
r
RECEIPTS.
J
€ n account of customs
Onaccountof internal revenue
On account of certificates of deposit, act J u n e 8, 1872
Onaccountof Post-Office Department
On account of transfers:
Treasurer's
Standard silver dollars
On account of patent fees
On account of semi-annual duty
On account of Secretary of the Treasury
Onaccountof disbursing officers
i..
On account of assay office:
Bullion fund
Ordinary expense account
1
On accountof interest
On account of redemption and exchange
Onaccountof United States bonds
On account of special customs deposits
Onaccountof gold certificates
On account of miscellaneous
„
$152,076,591.90
72,574.80
11,600, 000. 00
9,881,071.30,
I
209,639,790.26 '
5,596,924.00
4, 708.40
213,721.73
20,3r56.64
., 229,635,106.30
;
57,033,609.74
151,050.00
27,911,272.91
71,076,659. 00
94,016,21^5.87
242,911, 9.39.92
42,985,000.00
3,105, 009,46
\
1,157,931,582.23
I
'
DISBURSEMENTS.
Onaccountof Treasury drafts
On account of Post-Office Department
Onaccountof disburing officers
On account of assay office:
Bullionfund
Ordinary expenses
Onaccountof transfers
On account of interest
Onaccountof gold certificates...,
On account of silver certificates
"1
On account of United States notes mutilated
On account of national-bank notes
On account of fractional currency
On account of certificates of deposit, act June 8,1872.
Onaccountof UnitedStates bonds..
•On account of redemption and exchange
On account of special customs deposits
On accountof gold certificates
312,434,816.56
10,756,082.57
135,700,725.98
I
41,251,136.48
148,800.83
93,598,122.27
27,911,272.91
49,141,000.00
15, 983, 000.00
, 21,345,000,00
2, 812,000. 00
l,55o.OO''
8,280,000.00
93,996,978.37
; . . 73, 014, 372.00
241, 648,294. 71
2,575,000.00
i
1,130,598,102.68
Balance June 30, 1889
[
ST. LOUIS.
Balance June 30, 1888
200,365,528.70
1
,
I
RECEIPTS.
On accountof customs
On accountof internal revenue..
On'account of sales of public lands
On accountof Post-Office Department
On account of transfers:
Treasurer's
Standard dollars
On accountof patent fees
On account of disbursing officers
On accountof assay office:
Ordinary expenses
Bullion
On account of semi-annual duty
On account of the Secretary of the Treasury
Onaccountof repayments
Onaccountof redemption'and exchange
On account of miscellaneous
1,330,963,631.38
i
$20,417,022.34
»
„
.„
,....
.$1, 790, 629.01
1,545,721.86
45,205.74
2,432, 953.80
]
20, 905,061.12
2,257,000.00
3,421.50
14,954,109.85
j
' 5,887.43
290,010.81
10, 931.11
8,307.39
,225,340,57
3,073,066.50
45, 505.95
47,593,152.64
68,010 174.98
CLIV
R E P O R T OF T H E SECRETARY OF T H E TREASURY.
ii •
T A B L E Q . — R E C E I P T S AND DISBURSEMENTS, ETC,—Continued.
ST. LOUIS—Continued.
DISBURSEMENTS.
,
On account of Treasury drafts
On accountof Post-Office drafts
On account of disbursing officers
On account of assay office:
Ordinary expenses
Bullion'.
On account of interest
On accountof redemption and exchange
On account of gold certificates
On account of si Iver certificates
On accountof transfers
On account of United States notes mutilated
On account of Secretary of the Treasury
•On accountof miscellaneous
Balance June 30, 1889
.'
,
.
$13, 529,884.94
• 2,506,571.35
14, 903,702.59
5, 638. 53
276,467.72
379, .567.61
3,030,191.-50
230,100.00
222,000.00
10,448,987.53
479, 892.00
4, 308. 39
10,097.43
,
.....1...
$46,027,409.59
21,982,765.39
SA:br FRANCISCO.
Balance June 30. 1888
$57,267,012.28
On account of customs
On account of internal revenue
On account of sales of public lands
On account of Post-Office Department
On account of transfers:
Treasurer's
Standard dollars
On account of patent fees
On account of disbursing officers
On account of fractional silver
On accountof semi-annual duty
On account of the Secretary of the Treasury
On account of redemption and exchange
On account of miscellaneous
$10,899, 275.81
625, 232. 34
1.164, 757.40
1, 021, 005. 93
•.
5,754, 565.09
2, 311, 845.00
14, 5/4. 55
11, 250,220. 06
58., liO. 00
9,987.38
13, 669.10
5, 832.000. 00
428,125. 86
'.
%...:
39, 907, 369.12
97,174, 381.4(^
DISBURSEMENTS.
On account of
On accountof
On account of
On account of
On account of
On account of
On account of
On account of
On account of
On account of
On account of
Treasury drafts
Post-Office drafts
disbur.sing officers
.•
Treasurer's transfer account
Secretary of the Treasury
interest- ,
redemption and exchange
transfers standard silver dollars
fractional silver
national bank notes
legal tenders
..
'
Balance June 30, lb89
34,219,640.25
•
^
Total receipts
Total disbursements
62,954,741.15
RECAPITULATION.
^
..o
Receipts over disbursements
12, 596, 036. 06
1,022.42L1'0
11,069,11319
60,692. 58
7.504.8.3
280,424. ;i7
5. 832,000. CO
2, 346, 345.00
541,109.00
391,000,00
73,000.00
* Exclusive of balances from previous year.
*$1,673, 879,425.69
1,537,883.343.57
.3,5,999,342,57
T A B L E R.-—STATEMENT SHOWING T H E -PRESENT L I A B I L I T I E S O F T H E U N I T E D STATES TO I N D I A N T R I B E S UNDER T R E A T Y STIPULATIONS,
Names of treaties.
Description of annuities, etc.
Reference to
Number of installments yet unap- laws.
Statutes at
propriated, explanations, etc.
Large.
'^^'^>^-i
LIS
M d
<n 5
hn® ^ ^
§2
^M
g.^«;!^a.
bi)*.5 p © , 2 Q
B P P4e3 « ft
<1-
HH
H
Apaches, Kiowas,
and Comanches.
Do.
Thirty installments, provided to be expended
under the tenth article treaty of October 21,
1867.
Purchase of clothing
Pay of carpenter, farmer, blacksmith, miller,
Do..
and engineer.
P a y of physician and teacher
Do
Arickarees, Gros Amount to be expended in such goods, etc.,
as t h e President may from time to time deVentres, and
termine.
Mandans.
C h e y e n n e s a n d Thirty installments, provided to be expended
Arapahoes.
under tenth article treaty of October 28,1867.
Purchase of clothing, same article
Do
Pay of physician, carpenter, farmer, blackDo
smith, miller, eiigineer, and teacher.
Permanent annuity in goods
-Chickasaws . . .
Chippewas of the Forty-six installments, to be paid to the chiefs
of t h e Mississippi^Indians^
Mississippi
Chippewas, Pilla- Forty installments: in money, $107666:66;
goods, $8,000; and for purposes of utility,
ger and Lake
$4,000.
, Winnebagoshish
bands.
Permanent aamuities.oo. =„..=
Choctaws
Provisions for smiths, et©.
Eight installments, unappropriated, at $30,000 each.
Tenth article treaty of October
21,1867.
Fourteenth article treaty of October 21,1867.
do..
Seventh article treaty of J u l y 27,
1866,
Vol. 15, p. 584, §10
do
Vol.l5,p.585,§14|
...do,
Treaty not published.
$12,000.00
Three installments, of $1,000 each,
due.
Five-instailmentsr-of $22,666;66
each, due.
Second article treaty of November 16, 1805, $3,000; thirteenth
article treaty of October 18,1820,
$600; second article treaty of
Januar;^ 20,1825, $6,000.
Sixth article treaty of October 18,
1820} ninth article treaty of
January ^ , J825.
Vol^lOrP=4168,-f
3; vol. 13,p. 694,
§3.
Vol. 7, p. 99, § 2:
vol. 11, p.6U,§
13; vol. 7. p. 213
§13; vol. 7, p.
235; § 2.
Vol. 7, p. 212, § 6 ;
V0l.7,p.236,§9;
vol.7,p,614,§13.
O
4,500.00
2,500.00
30,000.00
Eight installments, unappropri-^ Vol. 15, p. 596, §10|
ated, at $20,000 each.
12, 000. 00
...do
Vol.l5,p.597,§13| 6, 500. 00
Vol.1, p. 619
Vol. 9, p. 904, §3,
HH
$240,000.00
HH
tzt
H
160, 000.00
HH
$3,000. 00
3, 000,00
- 113,-333.30-
9,600.00
920.00
w
Choctaws
Creeks
Do
Do
Do
Do
Do
Do
Do
Crows
Do
Do
.
Interest on $390,257.92, articles ten and thirteen, treaty of January 22, 1855.
Treaty of August 7,1790
Permanent annuities
-.do
Treaty of J u n e 16,1802
do
: . Treaty of January 24, 1826
Smiths, shops, etc
.w
•
Treaty of January 24,1826, and
W heel Wright, permanent
August 7, 1856.
Treaty
of February 14, 1833, and
Allowance, during the pleasure of the Presitreaty of August 7, 1856.
dent, for blacksmiths, assistants, shops, and
tools, iron and steel, wagon-maker, education, and assistants in agricultural operations, etc.
Interest on$200,*000 held in trust, sixth article Treaty of August 7, 1856
treaty August 7, 1856.
Interest on $675,168 held intrust, third article Expended under the direction of
the Secretary of the Interior.
treaty J u n e 14, 1886. to*be expended under
the direction of the Secretary of the Interior.
For supplying male persons over fourteen Treaty of May 7.1868; nine installments, of $15,uou each, due, estiyears of age with a suit of good, substantial
mated.
woolen clothing; females over twelve years
of age a flannel skirt or goods to make the
same, a pair of woolen hose, calico,, and domestic ; and boys and girls under the ages
named such flannel and cotton goods as their
necessities may require.
For pay of physician, carpenter, miller, engi- Treaty of May 7, 1868
neer, farmer, and blacksmith.
Blacksmith, Iron and steel, and for seeds and Estimated at
agricultural implements.
Vol,ll,p.614,§13
VoL7,p.36, § 4 . .
Vol. 7, p. 69, § 2
VoL7,p.287,§ 4Vol.7, p.287,5 8.
Vol, 7, p. 287, § 8;
vol.ll,p.700,§ 5.
Vol. 7, p. 419. §5;
vol.ll,p.700,§ 5.
Vol.ll,p,700,§6.
|l
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.
Description of annuities, etc.
Aggregate of future appropriations that will be required
during a limited number of
years to pay limited annuities incidentally necessary
to effect the payment.
Names of treaties.
Eeference to
Number of installments yet unaplaws. Statutes at
propriated, explanations, etc.
Large.
o
Annual amount necessary to
meet stipulations, indefinite
as to time, now allowed, but
liable to be discontinued.
I ' A B L K B.—SxATiGMBNT SHOWING THE PRESENT LIABILITIES OF THE t J N I T : ^ S T A T S S TO INDIAN 1 ' B I B E S , E T C . — C o n t i n u e d .
$19,512,89
$840.00
270.00
600.00
1, 000, 00
2,000.00
o
H
O
m
CQ
O
1, 500.00
3,000.00
20, 000.00
1,110.00
600.00
400, 000.00
22, 200.00
12, 000. 00
-10,000.00
200,000.00
33, 758.40
675,168.00
Pi
X
„
Vol.l4,p,786,§3Vol.l5,p.651,§9-
$390,257.92
Pi
o
H
W
t^,
$135,000. 00
QQ
td
Vol, 15, p. 651, §9
,4,500. 00
Vol. 15, p. 651, § 8
1,500. 00
-
Do.
lowas.
Indians at Blackfeet Agency.
Indians at Fort
Belknap Agency.
Indians at Fort
Peck Agency.
Kansas ;
Kickapoos
Miamies of Kansas.
Do
Molels
Nez Perces .'..
Northern C h e yennes and Arapahoes
Do
Twenty-five installments of $30.000 each, in Seventeen installments, of $30,000
each, due."
cash or otherwise, under the direction of
the President.
Interest on $57,500, being the -balance on
$157,500.
Ten installments of annuity at $150,000 each. Eight installments, due..
Vol.l0,p.l071,§9.
Ten installments of annuity at $115,000 each. Eight installments, due
.-.do
Ten installments of annuity at $165,000 each. Eight installments, due.
Interest on $200,000, at 5 per cent
I ^ e r e s t on $82,422.44, at 5 per cent
Permanent provision for smith's shops and
miller, etc.
Interest on $14,170.'33,at the rate of 5 per cent.,
as per third article treaty of J u n e 5, 1854.
Pay of teacher to manual-labor school, and
subsistence of pupils, etc.
Salary of two matrons for schools, two assist• tant teachers, farmer, carpenter, and two
millers.
Thirty installments, for purchase of clothing,
as per sixth article of treaty May 10, 1868!
Pay of two teachers, two carpenters, two
farmers, miUer, blacksmith, engineer, and
physician.
Interest
on $69,120, at 5 per cent., for educaOsages.
tional purposes.
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 installments, last series, in money or
otherwise.
rias.
Annuity goods and such articles as may be
Pawnees
necessary.
Support of two manual-labor schools and pay
Do.
of teachers.
For iron and steefand other necessary articles
Do.
for shops, and pay of two blacksniiths, one
— of-w-hom is to-be tin and.gun.8mith, and^cjom^
pensationof 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 miU
and keeping in repair grist and saw mill.
Amount to be expended during the pleasu roPoncas.
of the President for purposes of civilization.
Pottawatomies .
Permanent annuity in money
Do
do
......do
Do
Say $411.43 for shop and $262.62
for miller.
Act of April 11,
1882.
510, 000, 00
Act of May 1,
1888.
2,875.00
57,500.00
10, 000.00
4,121. 62
674 05
200, 000.00
82,432.44
13, 481.00
70& 51
14,170. 33
1, 200, 000. 00
920,000. 00
..do .
1, 320, 000.00
Vol 9, p. 842. § 2.
Vol.l0,p.l079,§2.
Vol. 7, p. 191, § 5 .
Vol.l0,p.l094,§3.
>
W
Treaty of December 21, 1855.
Vol.l2,p.982,§2.
3, 000. 00
Treaty of June 9,1863
VoL 14,p.650,§5.
3,500.00
Nine installments, of $12,000 each,
due.
Vol.l5,p.657,§6-
Estimated at..
VoL15, p. 658 § 7
Resolution of the Senate to treaty,
January 2, 1885.
Treaty of September 29, 1865
VoL7, p,242, §6
3,456. 00
, 69,120.00
Vol.l4,p. 687, § 1
15,000.00
300,000. 00
t-H
hH
H
t—I
QQ
108, 000. 00
H
O
9, 000.00
I—I
Five installments, of $5,000 each,
due.
Treaty of September 24,1857
Vol.l0,p.l039,§4.
25,000.00
VoLll,p.729,§2.
Pi
30,000. 00
VoLll,p.729,§3.
10, 000. 00
Estimated for iron and steel,
$500; two blacksmiths, $1,200;
and_tw£ strikers^$480.
Vol. ll,p.729,§4.
2,180. 00
Estimated
Vol. 11, p. 730, §4.
4,400.00
Treaty of March 12,1868.
Vol.l2,p.998,§2.
20, 000.00
August 3, 1795
September 30, 1809 .
October 2,1818
Vol. 7, p. 51, § 4 .
VoL 7,p.ll4,§£
Vol. 7, p. 185, §3
.do.
«
>
W
357.80
178. 90
894 50
7,156. 00
3,578.00
17,890. 00
<1
T A B L E R . — 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 O F T H E U N I T E D STATES TO I N D I A N T R I B E S ,
o ®-e
G <u ® I
ft Jan • 3 1so"
S3S
as
V
•
(Op®
-^ " a
N a m e of t r e a t i e s .
D e s c r i p t i o n of a n n u i t i e s , e t c .
Reference t o
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.
Laro^e.
3«
I2
Ms
li
feces'^
a
<
ETC.—Continuedo
tii
Pi
•S ® * a, ^ J
•%B
»D
O
W
H
O
H
t>s+=-«j
W
Pottawatomies
Do
Do
Do.
Do.
Do....
Quapaws .
S a c s a n d F o x e s of
Mississippi.
Do . .
Do
Sacs- a n d F o x e s of
Missouri.
Do
Seniinoles
Do..
Senecas.
Do.
S e n e c a s of N . T .
Do
Do
Permanent annuity i n money .
-doP e r m a n e n t provision for t h r e e blacksmiths
a n d a s s i s t a n t s , i r o n a n d steeL
September 20,1828.... =
Julv29,1829
O c t o b e r 16, 1826; S e p t e m b e r 20,
1828; J u l y 29,1829.
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 l i e u of t o bacco, iron, a n d s t e e l .
F o r i n t e r e s t on $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
J u l y 29,1829
S e p t e m b e r 20,1828; J u n e 5 a n d 17,
1846.
J u n e 5 a n d 17.1846
$1,000 for e d u c a t i o n , $500 for
s m i t h , etc.T r e a t y of N o v e m b e r 3,1804
, Vol. 7, p . 8 5 , § 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 o n $157,400, a t 5 p e r c e n t .
T r e a t y of O c t o b e r 21,1837
T r e a t v 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
F o r s u p p o r t of school
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,
I n t e r e s t on $70,000, 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
S m i t h a n d s m i t h - s h o p a n d miller, p e r m a n e n t . .
Permanent annuities
I n t e r e s t on $75,000, a t 5 p e r c e n t
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 Ontario Bank to the United States Treasury.
Permanent annuity
-•
•
Senecas and Shawnees.
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 .
Do.....
FRASER
Shawnees..,
P . . 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 .
Digitized for
V o l . 7, p . 317,
Vol. 7, p . 330,
V o l . 7, p . 296,
vol.7,p.318§
vol.7,p.321,
V o l . 7, p . 320,
Vol. 7, p . 318,
vol.9,p.855,§'l0.
V o l . 9, p . 855, § 7 . .
Vol, 7, p . 42,5, § 3 - .
* $715.60
5, 724 77
1, 008.99
156.54
107.34
11, 503. 21
V o l . l 2 , p . 1172,§5.
V o l . 11, p . 702, § 8
3,120. 80
2,146. 80"
o
H
t>
o
20,000.00
10, 000.00
40, 000.00
7, 870.00
200, 000.00
800, 000.00
157,400, 00
25,000,00
500,000.00
200. 00
3, 500.00
1, 000, 00
70, 000. 00
20, 000.00
F e b r u a r y 28,1821
F e b r u a r y 19,1841
A c t of J u n e 27,1846
..-^...do
Vol. 14, p . 757, § 3Voi:7, p . l 6 1 , M ;
vo].7,p.l79,^4.
Vol. 7, p . 349, § 4 Vol. 4, p . 442 . - . .
V o l . 9, p. 35, § 2 . .
V o l . 9, p . 35, 5 3 . .
1, 660.00
6,000.00
3, 750. 00
2,152. 60
33,200. 00
120, 000.00
75,000. 00
43,050. 00
T r e a t y of S e p t e m b e r 17, 1818
Vol. 7, p. 179, § 4 . .
1, 000, 00
20,000.00
T r e a t y of J u l y 20,1831
A u g u s t 3,1795; S e p t e m b e r 29,1817
Vol. 7, p . 352. § 4 . .
Vol, 7, p . 51, § 4 . . .
3, 000, PO
60,000.OP
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
CQ
230, 064.20
$1,500.00
Vol. 7, p . 541, § 2 . .
V o l . 7 , p . 596, § 2 . .
Vol. 7, p . 543, 5 2 . .
---
$14,312.00
114,495.40
20,179. 80
1,060.00
•W
a
w
Kj
Interest on $40,000, at 5 per ceut
I August 3,1795; May 10, 1854
Do
Shoshones and Ban
nacks:
Shoshones . . . . . For the purchase of clothing for men, women, Ten installments due, estimated
at $10,000 each.
and children, thirty installments.
For pay of physicians, carpenter, teacher, en- Estimated
Do.
" gineer, farmer, and blacksmith.
Blacksmith, and for iron and steel for shops..
.do .
Do
For the purchase of clothing for men, women, Ten installments due, estimated
Bannacks.
at $5,000 each.
and children, thirty installments.
Pay of physician, carpenter, miller, teacher, Estimated
Do.
engineer, farmer, and blacksmith.
Treaty November 11, 1794
Six Nations of N . T , Permanent annuities in clothing, etc
Sioux of different Purchase of clothing for men, women, and Ten installments., of $130,000 each,
due; estimated.
• tribes, including
children.
Santee Sioux of
Nebrajska.
Estimated
Do
Blacksmith, and for iron and steel
Do...
For such articles as may be considered neces- Ten installments, of $200,000 each,
due; estimated.
sary by the Secretary of the Interior forpersons roaming.
Phj^sician, five teachers, carpenter, iniller, Estimated.
Do.
engineei", farmer, and blaiksmith.
Purchase of rations, etc., as per article 5, . . . . . . d o . . . .
Do.
agreement of September 26, 1876.
,
Tabequache band Pay of blacksmith.
do....
of Utes.
Tabequache, Mna- For iron and steel and necessary tools for
.do .
blacksmith shop.
che. Capote, Wee.
minucbe, Yampa,
Grand River, and
Uintah bands of
Utes.
Two carpenters, two millers, two farmers,
.do.
Do..
one blacksmith, and two teachers.
Nine
installments, each $30,000,
Thirty
installments,
of
$30,000
each,
to
be
exDo.
due.
pended under the direction of the Secretary
• of the Interior, for clothing, blankets, etc.
Annual amount to be expended under the
Do.
direction of the Secietary of the Interior, in"snpplyingsaid—Indians~with-beef,-mutton,
wheat, flour, beans, etc.
Interest on $801,909.17, at 5 per cent, per an. November 1, 1837, and Senate
Winnebagoes.
amendment, July 17,1862.
num.
Interest on $78,340.41, at 5 per cent, per an- July 15,1870
Do
num, to be expended under the direction oi'
the Secretary of the Interior.
Tankton tribe of Twenty instaliments, of $15,000 each, fourth Nineteen installments, of $15,000
series, to be paid to them or expended for| each, due.
Sioux.
their benefit.
, Total.
1 Vol. 10, p. 1056, § 31
Vol. 15, p. 676, §9,
2,000.00
40,000.00
4, 500. 00
90, 000. 00
100, 000.00
Vol. 15, p. 676, § 10|
5, 000.00
Vol. 15, p. 676, § 3Vo].15,p.676,§9.
1, 000. 00
50, 000.00
Vol. 15, p. 676, § 10| 5, 000. 00
Vol. 7, p. 64, § 6 .
Vol. 15, p. 638, § lOl
.do.
.do.
1, 300, 000.00
>-(
2, 000. 00
2, 000, 000.00
•
f
H
I—I
Vol. 15, p 638,§13| 10,400.00
Vol. 19, p. 256, §5. 1,000,000.00
H
Vol. 13, p. 675, § iO|
720.00
o
Vol. 15, p. 627, § 9.
220.00
Vol. 15, p. 622, §15
H
Pi
7, 800. Op
Vol. 15, p. 622, §111
270, 000.00
w
Vol. 15, p. 622, § 12 30, 000.00
Vol. 7, p. 546, §4
vol. 12, p. 628. § 4|
Vol. 16, p. 355, § 1
Vol. 11, p. 744, §4.
40,245.45
"804,909.17"
3, 917.02
78,340,41
347, 079.09
5, 981,172. 27
285, 000. 00
1,145,190.00 4, 869, 333.30
O
t-"
•-(
•
X
TABLE
S.- -STATEMENT O F R E D E E M E D U N I T E D STATES S E C U R I T I E S R E C E I V E D B Y T H E O F F I C E O F T H E S E C R E T A R T O F T H E T R E A S U R Y F O R F I N A L
COUNT, E X A M I N A T I O N , AND DESTRUCTION 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,
1889.
IT*
X
Denomination.
T i t l e of s e c u r i t y .
I's.
2'8.
5'8.
$44,319.00
$4,026.40
$2,780,20
United States notes, new i s s u e . .
165,446.50
16, 759. 20
12,674 30
U n i t e d S t a t e s n o t e s , s e r i e s 1869
U n i t e d Sta^tes n o t e s aeries 1874
7,626.80
7,133.10 •-.
288,772.00
29, 679.00
20, 203.70
U n i t e d S t a t e s n o t e s , s e r i e s 1875.
17,189.80
283,184.00
20, 506.90
U n i t e d S t a t e s n o t e s , series 1878
U n i t e d S t a t e s n o t e s , s e r i e s 1880. 1,402,406.40 1, 550,36L 20 21. 938,190.50
155.00
Demand notes
One v e a r n o t e s of 1863 . .
...
Two~year n o t e s of 1863
C o m p o u n d i n t e r e s t n o t e s of i863
C o m p o u n d i n t e r e s t n o t e s of 1864
S i l v e r certificates s e r i e s 1878
S i l v e r certificates s e r i e s 1880'
S i l v e r certificates s e r i e s 1886
7, 595,632.20 4,159, 572.80 4,570,120.00
G o l d certificates, N e w Y o r k
s e r i e s 1882 . .
G o l d certificates, W a s h i n g t o n
series 1882..
Kefnndinff certificates
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 .
12,075.00
8, 908.00 4,438,040.00
National currency redeemed
1,314.00 21,939, 640. 00
and retired . . .
1, 648. 00
20's.
lO's.
$89,066
911,401
$100, 734
1,126,440
471,269
697, 791
11,230,621
110
80
822, 674
1, 606,316
6,624, 508
100
160
50
640
28,310
10,958, 006
• 2, 522, 571
1,140
72,856
8,806,368
11,320
Totals.
50's.
lOO's.
- $14, 695
164, 350
695, 790
86, lOf
676,420
1, 990, 775
$20, 500
398,970
615, 740
1,127, 680
1, 732, 390
500's.
1,000's.
10,000'6.
$6, 500
$5, 000
8,000
174, 000
176, 500
224,500
594,000 " " 5 3 9 , " 000
309, 000
398, 000
50
50
50
850
75, 200
857, 590
100
66,100
661,380
12, 000
122, 000
1,000
24, 000
71, 000
1, 318,164
1,182,100
663, 400
511, 500
510, 000
664, 634
619, 700
4,498,880
1, 267, 950
1, 549, 700
.38,000
16, 679, 900 .9, 988,-220
2, 418,950
4, 505, 700
1,000
$287,620.60
2, 978, 047.00
887, 0^9. 90
2, 558. 942.70
5, 562, 087.70
47,176, 252.10
365.00
590. 00
150. 00
100. 00
3, 730.00
278,466.00
21, 47e, 344.00
18, 859, 216. 00
300
100
1,330,400 2,686, 500
$850, 000 $7,410,000 12, 445,164 00
9,644, 500 14,410, 000 20, 540,000 49, 895,734.00
18, 960. 00
18, 960
6,413, 700
5,000's.
6,000
18, 233, 253.00
o
>^
H
w
w
o
w
H
Pi
K3
55, 536, 372.00
9,075,059.80 5, 795, 437.20 53, 667, 867.00 50,022,475 35, 642, 520 10, 050, 625 12, 672, 460 4, 689, 500 11,. 372, 500 15, 260, 000 27,950.000
Total
O
Pi
O
Denomination.
Eedeemed U n i t e d States fractional currency.
United
United
United
United
United
United
United
States
States
States
States
States
States
States
fractional
fractional
fractional
fractional
fractional
fractional
fractional
c u r r e n c y , first, i s s u e
c u r r e n c y , s e c o n d iss Tie
currency, third issue
currency, fourth issi
c u r r e n c v f o u r t h issii A OAnnnrl .QAfi eg
c u r r e n c y f o u r t h issu*^ thirfi nAn'As
c u r r e n c y ' fifth i s s u e
."
$6.04
.
Total
.
Eedeemed United States internal-revenae stamps T
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
3c.
'
5c.
| 1 0 . 28
18, 36
7.08
10c,
$21. 24
29.51
87.08
263.23
•
-
15c.
85. 29
670.02
6.04
35.72
1.071.08
9,^ 9,«
25c.
50c.
$43. 90
39.20
160.03
456.06
1, 001. 08
$79. 00
52.80
263. 35
73. CO
466.55
543.05
977, 20
9. son 97
9, A?^± 0 5
154.42
139. 87
593. 58
877. 58
466 55^
543.05
3, 248. 30
2, 632, 350. 65
238.836,748.00
H
CO
a
^.
UNITED STATES BONDS, ETC., RECEIVED AND ISSUED^
CLXI
T A B L E T.—STATEMENT OF U N I T E D STATES BONDS AND OTHER QBLIGATIONS R E CEIVED AND ISSUED B Y T H E O F F I C E O F T H E SECRETARY O F T H E P?REASURY FROM
NOVEMBER 1, 1888, TO OCTOBER 31, 1889, INCLUSIVE.
• ,
•
Title of loan.
Loan of July and Aug., 1861, acts of J u l y 17 and
Aug, 5,1861
Five-twenty bonds of 1862, act of Feb, 25,1862..
Bonds issued to Pacific railroads, acts of J u l y 1,
1862, and July 2,1864
Loan of 186? (1881s), act of Mar. 3,1863
Gold certificates, act of Mar. 3,1863.
Gold certificates, series of 1888
Ten-forty bonds of 1864, act of Mar. 3,1864
Seven-thirty notes of 1864 and 1865, acts of J u n e
80,1864, and Mar. 3,1865..
Consols .of 1865, act of Mar. 3,1865 ....'
Consols of 1867, act of Mar. 3,1865
:..
Consols of 1868, act of Mar. 3,1865
Five-twenty bonds, act of June 30,1864
Funded loan of 1881,5 per cent., acts of July 14,
1870, and Jan. 20, 1871,
Funded loan of 1891,4^ per cent., same acts
Funded loan of 1907,4 per cent., same acts
Certificates of deposit, act of June 8,1872
3i per cent, bonds, acts of J u l y 17 and Aug. 5,
1861
o
3 | per cent, bonds, act of Mar. 3,1863
3J per cenfc. bonds, acts of July 14,1870, and J a n .
20.1871.oo, = o
3 per cent, bonds, act of July 12,1882
Total.
Keceived for Received for
" exchange
and transfer. redemption.
Issued.
$3,600
750
$5,246,000
2,100
2,054, 700
16, 735. 000
5,000
$3,60O
750
$5,'246,000
52j775,000
650
7,150
21, 000
5,400
50
8,317,250
74,280,250
87,843,500
Total.
10,492,000
2,100
2, 054,700
69, 510, OOO
5,000
650
7,150
21,000
'5,400'
50
5,100
70,692,650
34, 800, 900
29, 660, 000
5,100
8, 317, 250 87, 327,150
74, 301,850 183,383, 000
3Q, 550, 000 60, 210,000
29,000
100
29, OOO
100
7,350
392,350
7,350
392,350
154,422,850 171,190,100
413,456,450
APPENDIXES TO THE REPORT ON THE FINANCES.
FI 89
1
APPEJ^DIX A.
EBPOKTS OF H E A D S ' OF B U E E A U S AND SUPERVISING
SPECIAL AGENT.
\
.
( N o . 1.) .
,
.
,
»
REPORT OF THE TREASURER.
1
r|
T R E A S U R Y OF T H E U N I T E D ' S T A T E S ,
*
,
p
Washington^ Novembef 1, 1889.
SIR : I have the honor to submit the annual report on; the operations
of the Treasury and the condition of the public business intrusted to
my charge.
R E C E I P T S A N D EXPENDITURES,
;
The fiscal year which closed on June 30,1889, a few wpeks before the:
end of the first century from the organization of the Treasury Department, while not distinguished by any conspicuous events, was a remarkable one in the history of the public finances. Th0 net revenues,
amounting to $387,050,058.84:, have been exceeded but five times since
the foundation of the Government, the receipts from customs having
reached the highest point ever attained, ^ h e increase 6f revenues over
the twelve months immediately preceding was $7,783,98408. The ordinary expenditures, also, were greater than those of any other year,
except the period which bore the cost of the war, haviilg been, exclusively of payments on account of the reduction of this public debt,
$22,342,656.93 greater than those for the fiscal year 1888;. The surplus
revenues, including the amount expended in premium ion bonds purchased, were $1|[)5)053,443.24, a decrease of $14,558,672.35 as compared
with the preceding year.
*
;
The receipts from issues of the public debt were $245,111,350, making with the surplus revenues a total of $350,164,793.24. j The disbursements on account of the debt were $318,922,412.35 for 'principal, and
$17,292,362.65 for premium, in all $336,214,775, leaving $13,950,018.24
as an increase in the balance charged to the Treasurer. \
As shown by the warrants issued, the revenues of the Post-office Department were $55,694,231.53, and the expenditures $61,111,748.61.
To cover the deficit, $3,870,639.12 was drawn from the j appropriation
made^by Congress and $1,546,877.96 from the balance onjdeposit in the
Treasury. Of the receipts, $23,681,442.45 was paid into the Treasury
and $32,012,789.08 was disbursed by postmasters direptly, the warrants but not the money passing through the Treasuiier's accounts.
The disbursements made through the Treasury amounted to $29,098,959.53. As compared with the preceding year there was Ian increase of
$3,464,846.56 in the total revenues and! of'$5,217,450.55 iti the total expenditures on account of the postal service.
I
i
3
4
REPORT ON THE FINANCES.
Tabular statements in the appendix exhibit in detail all the operations
of the year. The following is a summary of the ordinary receipts and
expenditures in comparison with those of the year before:
1888.
1889.
Increase.
Hevenue trom—
Customs
-.
. . . . . . . . . . . . . . . $219,091,173. 63 $223,832,' 741.69 $4, 741,568.06
Internal revenue
124, 296, 871.98 130, 881, 513. 92 6,584,641.94
Sale of public lands
11, 202, 0,17.23 , 8,038,651.79
24, 297,151. 44
Miiscellaneous sources
24,676,011.92
Total
Net increase
-
.V
Expenditures on account of—
Civil and miscellaneous:
Customs, light-houses, public
buildings, etc
Internal revenue
Interior civil (lands, patents,
etc.)
3?reasury proper (legislative,
'•
executive, and other civil).
Diplomatic (foreign, relations)
Judiciary . . . . . . . . .
....
War Department
Navy Department
Interior Department (Indians
and pensions)
Interest on public debt
Premium on public debt
379,266, 074. 76
387,050,058.84
11,326,210.00
7, 783, 984 08
20, 359,455.15
3, 809, 557.94
20,154,342.08
3,941, 466.30
131,908.36
7,859,468.41
7,359,790.25
34, 575,466. 33
1,593,461.40
4,754, 851.57
38,522,436.11
16, 926, 437. 65
42, 847, 717.40
1, 897, 625.72
4 463, 322. 51
44,435,270.85
21, 378, 809. 31
86, 537, 816.64
44,715, 007.47
8, 270, 842.46
94, 5i6, 986. 89 7,979,170.25
41, 001,484. 29
17,292,362. 65 "O," 021,'520." 19"
T o t a l . . . .Net increase .'
267,924,801.13
299,^88,978.25
Surplus available for reduction of
. debt
111, 341^273. 63
87,761,080.59
Decrease.
....
$3,163,365.44
378,860.48
3, 542, 225.92
205, 313.07
499,678.16
8,272,251.07
304,164 32
5, 912,834 74
4,452,371. 66
36, 074, 220. 59
31,364,177.12
291,529.06
3, 713, 523.18
4,710,043.47
23,580,193.04
THE STATE OF a?HE TREASURY.
The balance charged to the Treasurer on the books of the Department,
June 30, 1888, was $659,449,099.94. In addition there had been paid
into his hands, in advance of the issue of warrants, sums aggregating
$606,086.32, with which he had not yet been charged. On the other
hand, the amount of $28,101,644.91 on deposit with the States under the
law of 1836 is not borrie on. his books. By applying these two corrections the balance in the Treasurer's general account, shown by his books
to have been $631,953,541.35, is verified. A year later the balance on
the books of the Department stood at $673,399,118.18, having increased
$13,950,018.24, as already explained. On the first date there was in^
eluded $1,429,450.34, and on the latter, $1,415,433.91, described as unavailable, for which there were no funds.
The statement of assets and liabilities in the Treasurer's last report
shows that on June 30, 1888, there was in his custody, in cash and
effective credits, $764,729,535.51, or, excluding the amount unavailable,
$134,811,530.82 more than was charged to him on the books of the Department. This dift'erence''was made up of the national bank-note redemption funds, aggregating at that time $98,929,571.27, and of other deposit accounts, making $35,275,873.23 more, together with the $606,086.32
already mentioned, which had been received but not yet formally covered in. On June 30,1889) the cash and credits amounted to $760,643,871.26, or $116,761,831.90 more than appears in the general account, the
difference being explainable in the same manner.
'« •
The following is a summary of the condition of the Treasury at the
TREASURER.
end of the fiscal year in comparison with June 30, 1888, the reserve of
$100,000,000 held for tJriited States notes being included in the balance:
'
ASSETS.
Gold
„
Silver and minor coin
,
United States notes, nationalrbank notes, and fractional currency
Certificates of deposit...-= =
=
Deposits in banks..^
'
=
=
Public debt and interest paid, i
^
..
Total
.;....
,
LIABILITIES.
Certificates of deposit
Public debt and interest
• National-bank note redemption funds
Deposits and disbursing accounts
Balance
Total
,
.'i
J u n e 30, 1888.
June 30, 1889.
$314,704, 822.46
280,796,046.43
60, 402, 874.89
49, 910, 615.00
58,712,511.11
202, 665.62
$303,387,719.79
315,160, 779.58
51,448,508 05
42, 645, 504.00
47,259,714 39
741, 645.45
764,729,535.51
760,643,871.26
386,429,922.00
'14,288,5:68.40
98,929,571.27
35, 275, 8;73.23
229, 805,600.61
433, 873, 298.00
12, 640, 036.-59
83, 681, 269.16
32, 352,220.34
198,097,047.17
764, 729, 535.51
760,643,871.26
In connection with the foregoing it may be not amiss to point out a
little more particularly that the business of this office, so far as it relates to the custody of the public moneys, deals with three kinds of
funds. First of these are the revenues, which upon their collection are
covered into the Treasury by warrant and held for disbursement upon
appropriations. Second are the gold and silver coin and United States^
notes received in' exchange for certificates of deposit.! These moneys
also are covered by warrant, and charged to the Treasurer in general
account, the certificates issued being treated as part of jthe public debt.
Lastly come the deposit accounts, consisting of the bank-note redemption funds and moneys set apart from the public funds pr received from
other sources for specific purposes. These are not covered by warrant,
and their amount is an addition to the cash in the Treasury of which the
Treasurer alone takes accounto The moneys received from these several
sources are thrown together, but gold coin, standard silver dollars, and
United States notes equivalent to the respective amounts of certificates
outstanding must always be on hand. This method hf handling the
several funds in the Treasury makes it necessary in t i e statements of
assets and liabilities to include as resources all the i t t o s of cash and
credit, there being no way of setting apart particular kinds'"of money
against the several classes of liabilities, except in the case of outstanding certificates of deposit, as has already been noticed, j
The balance of the Treasurer's general account, which is commonly
spoken of as the cash in the Treasury, consists therefore of the amount
remaining from the revenues and from deposits for certiticates, in excess of the disbursements on account of expenditures and redemption of the public debt. The general account itself, as it appears on
the books of the Eegister of the Treasury, is strictly ajcash account, a
rebord of sums received and disbursed by warrant of the Department,
showing the balance on hand, which is the result of past operations,
and is independent of prospective revenues or matured bbligations. If
the amount of the public debt and of this balance be Correctly statpd,
a simple subtraction will show the debt less cash in the Treasury.
On the Treasurer's books, however, there are written against this balance those demand liabilities of the Treasury'i)roper which arise from
the public debt, consisting of the certificates of deposit outstanding,
with matured and unpaid principal and interest, and iii terest accrued
6
REPOliT ON THE FINANCES.
but not yet due. The balance of the account so stated, exclusive of the
$100,000,000 foi;: some time treated as a liability on account of reserve
against the United States notes, is identical with that shown by the
Treasurer's statement of assets and liabilities. In the latter statement,
however, there are added to the moneys in the Treasury received by
^warrant on general account the funds on deposit for disbursement, and
also, on the other side, to the liabilities above noted those arising from
these deposits. That statement therefore shows not only the kinds and
amounts of all the moneys and other resources in the Treasurer's
charge, but also all the outstanding obligations of the Government on
whatever account, excepting only the principal of the interest-bearing
debt and the United States notes and fractional currency in circulation.
The following is such a statement for the beginning and end of the
fiscal year, in a form exhibiting the total available assets, the specific
purpose, so far as any is recognized, for which they are held, the demand liabilities^on the several accounts, the balance in excess of those
liabilities, and the available total balance of moneys in the Treasurer's
general account:
J u n e . 30,1888.
J u n e 30,1889.
ASSETS:
On deposit f o r certificates.
Gold coin
S t a n d a r d silver dollars
United States notes
$142,'023,150.00
229, 491,772. 00
14, 915, 000.00
.'
$154,048,552.00
262, 629, 746.00
17,195, 000. 00
$386, 429, 922.00
$433,873,298. 00
P u b l i c a n d special f u n d s .
62, 426, 600. 75
110,255,071.71
20, 928, 500, 00
G o l d : Coin
'
Bullion
Certificates....................
83,538,240.40
65,800,927.39
36, 918,323.00
193,610,172.46
Silver: Standard dollars
F r a c t i o n a l coin
Bullion
Certificates
14,689,622.00
26, 044, 062. 35
10,457, 669.35
28, 732,115. 00
United States notes
Certificates
38, 430, 975. 89
250, OQO. OO
186,257,490.79
16, 458, 004 00
25,^140,172.27
10,707,229. 25
5,487,181.00
57, 792 586. 52
79,923,468.70
t^ractional c u r r e n c v
• ...
B o n d s a n d i n t e r e s t Daid
I n t e r e s t o n D i s t r i c t of C o l u m b i a b o n d s
paid.
-.
Total
.
• \
30,101,875.54
240,000.00
30,341,875.54
225, 628. 06
4,150, 537. 75
1, 094.76
47, 259, 714. 39
740,209.75
38, 680, 975. 89
112, 920. 73
7, 055, 541. 08
1, 357.92
58, 712, 511.11
200, 789. 32
],876.30'
1,435. 70
764,729, 535. 51
760, 643, 871.26
LIABILITIES.
T r e a s u r e r ' s g e n e r a l account.
Certificates o u t s t a n d i n g
Matured debt
Interest due and unpaid
j^ccrued i n t e r e s t . . . . . .
Balance
433,873,298.00
. 1,911,485.20
1, 294, 049.82
9,434,501.51
198, 097, 047.17
386, 429, 922. 00
2,496, 095. 26
1, 667, 336. 85
. . . . . . . . . . . . . 10,125,136.29
229, 805,600. 61
:
630, 524,091.01
644, 610,381. 76
T r e a s u r e r ' s agency account.
N a t i o n a l - b a n k n o t e r e d e m p t i o n f u n d s . 98, 929, 571. 27
"21,999,399.21
D i s b u r s i n g officers' b a l a n c e s
13, 276, 474.02
E-edemption a n d d e p o s i t a c c o u n t s
0
Total
.
...
83,681,269.16
23, 921, 599. 93
8,430, 620.41
134,205,444 50
116, 033,489.50
764, 729, 535. 51
760,643,871.26
TREASUEEtl.
' 7
If the business of the Treasury be regarded as consisting of two
branches, namely, the issue and redemption of certificates of deposit,
and the receipt and disbursement of the revenues aiid special funds,
and if the coin and notes necessary for the security of' outstanding-certificates be set aside, so that there will be left the moneys available to
meet current liabilities on all other accounts, the true state of tjie
Treasury with reference to the obligations to be met! by the revenues
Will be exhibited in the most concise form. The showing from this point
of view is as follows:
!
June 30,11888.
Gold
..
Silver and minor'coin . . . . . . . .
Notes
Deposits in banks
^
.
.
. ..
...............................
1
Total....'
Liabilities
Reserve
Total
-
'...o
June So, 1889.
$193, 610,'172.46 $186, 257,490. 79
80, 036; 389.43 • 58, 018,214.58
45, 737; 874.89
34,493, 508.05
58,712,'511.11
47,259, 714.39
378,096j947.89
326,028, 927.81
. 148, 29li 347.28
229, 8051 600.61
127,931, 880.64
198,097,047.17
378,096i947.89
326,028,927.81
1
From the preceding statements it appears that while gold was lost
both in the aggregate and in the amount not covered by outstanding
certificates, the position of the Treasury was strongei" at the end than
at the beginning of the year in every respect but the amount of reserves, and in this had nearly double the strength tliat has been considered ample. The gold on hand fell oW nearly 4 per cent., but at the
same time the total assets, the liabilities, and the reserve all fell off
about 14 per cent. At ,the beginning of the year the*free gold was
$45,000,000 in excess of the demand liabilities, and formed 84 per cent,
of the reserve; at the close it was $58,000,000 more than the liabilities
and 94 per cent, of the reserve.
^
j
j
UNAVAILABLE FUNDS. '
I
--
By a direction in the act of Congress making deficiency appropriations for the fiscal year, the sum of $24,016.43, representing losses in
the office of the assistant treasurer in New York, was credited in the
accounts of the Treasurer, diminishing by that amount the unavailable
funds carried on the books. A loss of $10,000, reported in 1886, by the
assistant treasurer in San Francisco, and subsequently ascertained by
an official examination to have occurred, is in the present report stated
for the first time as -unavailable. This sum, togethjer with the deficit
of $20,959.81 in the sub-treasury at New Orleans, arid the defalcation
of $11,611.03 in the assay offif^e at Bois6 City, making in all $42,570.84,
is counted in the monthly statements of the public d|ebt and of the assets and liabilities of the Treasury as cash, there being no authority
from the Secretary to treat these items otherwise. In former annual reports the amount of the two older of these losses was'stated as unavailable, and to it is herein added the other, on the ground that such a document should set forth in the fullest manner the true state of the public funds. Exclusive of the amount on deposit with the States, the
total deficiency in the cash as compared with the Amount charged to
the Treasurer is $1,415,433.91.
:
The established method of carrying these deficits, jby which they are
8
REPORT ON THE FINANCES.
ignored in some of the Treasury stateinents, and wholly or partly
allowed for in others, is unsatisfactory and confusing, if not apt to encourage abuses. The Treasury ought not, by appearing to cover up
losses, to practice and by its example seem to sanction what is ordinarily held to be imprudent, dishonest, or criminal. The public accounts
should be so kept as at all times to show the actual state of affairs without real or ajjparent discrepancies. The Treasurer should not stand
charged with sums which have passed out of the control of the Department, or for which he individually has never become responsible in any
sense or capacity. When moneys disappear from the Treasury, unless
they are at once restored, the cash accounts should be cleared of'them,
and the duty of keeping trace of them be transferred elsewhere, along
with that of recovering losses and punishing negligence or crime. If
alone to avoid confusion the statements issued from the Treasury should
all be based upon the same understanding of the facts, and that the one
requiring least explanation.
THE PUBLIC DEBT.
I t will aid toward a clear understanding of the position of the Treasury with reference to existing obligations, and of the changes that took
place therein during the fiscal year, to note the elements of which the
public debt is composed, aud their several relations to the public finances.
As officially, stated, the debt consists of the interest-bearing loans
not yet due or payable; the legal-tender notes, redeemable on demand,
and receivable on all accounts, but required by law to be reissued ,• the
old demand notes and fractional currency, payable for retirement; and
all other matured bonds, notes, and securities, together with all interest
due and payable, or accrued but not yet due. Of these obligations, the
principal represents borrowings on the public credit for past expenditures, and constitutes the debt, properly so called. The interest is taken
account of on the Treasui:er's books as a current liability, and when
paid is reckoned an ordinary expenditure. To consider it as a part of
the debt itself may be convenient if-the total obligations of the Government are to be shown, but at the same time is confuting by bringing
into prominence an item of running expense for which ample provision
is made out of current revenues, while all other items of the same character are neglectedo Lastly there are included as part of the debt the
outstanding certificates of deposit, which do not represent borrowings,
and do not bring any benefit to the Treasury, nor impose upon it any
obligation save that of trusteeship.
The public debt, as understood by the Department, therefore includes
all the liabilitiesoftheTreasury, whether deferred, accrued, or matured,
excepting only current expenses and the obligations arising from deposits with the Treasurer for the redemption of national-bank notes and
for other purposes. These obligations, though no accountof the receipt
and disbursement of the funds from which they arise is kept elisewhere
than in this office, and though the funds themselves are not considered
part of the public moneys, are yet as valid against the assets in the
Treasurer's hands as any liability on account of the debt. - To make a
full statement of the condition of the Treasury with reference to gross
assets and liabilities on all accounts, and one which bears the simplest
relation to the statements of cash and current obligations, it is necessary, therefore, to add to the items included in the debt those standing
in the Treasurer's agency account. 'Such a statement, in summary, for
^ , TREASURER.
9
June 30, 1889, and the corresponding date in the year before, is as:
follows:
I
J u n e 30, 1888.
, 015,146, 012.00
56, 807.50
346,681,016.00
6,922,643.82
386,429, 922.00
2,496,095.26
1, 667, 336. 85
10,125,136.29
Interest-bearing debt
' Qld demand notes
IJnited States notes
".
Fractional currency, estimated
Certiticates of deposit
Matured debt
Interest due and unpaid
...
Accrued interest,
:..
June 30, 1889.
$894,477, 502. 00
56,442.50
346,681,016.00
6,916,690.47
433, 873,298.00
1,911,485.26
1,294,049.82
9,434,501.51
Total debt
Treasurer's agency account
1,769,524,969.72
134,205,444.50
1, 694, 644,985i 56
116, 033,489.50
Aggregate
Assets of Treasury
Debt, less cash in Treasury....
1, 003, 730,414 22
764,729, 535.51.
1,810,678,475.06
760,643,871.26
1,139,000,878.71
1,050,034,603.80
To show succinctly the state of the debt proper and • the position of
the Treasury with reference thereto, all items of current liability carried in the Treasurer's accounts, together with the equivalent amount
of assets held against them, must be eliminated, and the principal of
the various classes of obligations placed in comparison with the cash
balance. It must be observed, however, that as the principal of the
matured debt is tal^en up in the cash statement as a liability, the amount
of it, if added to the other debt, where it properly belongs, must be
added also to the balance of cash. With these changes |the above statement is reduced to the following form:
|
J u n e 30, 1888.
Interest-bearing debt.
United States notes
,
Old demand notes and fractional currency
' Matured debt
Total principal of debt
Available cash balance
Principal, less cash in Treasury
$1,015,146, 012.00
346, 681, 016. 00
6,979,451.32
2,496,095.26
J u n e 30,1889.
$894,477,502.00
346, 681,016. 00
6, 973,132.97
1, 911,485. 26
1, 371, 302, 574.58 1, 250, 043,136. 23
232, 301, 695.87
200,008,532.43
-
1,139,000,878.71
1,050,034,603.80
From the foregoing it appears that^he reduction of .the principal of
the debt proper was $121,259,438.35, There were two items of increase,
one of $5,940, arising from the conversion of interest on refunding certificates into 4 per cento bonds, and another of $5,000' apparent only,
resulting from the correction of an error, which had been carried along
in the debt statement for a number of years, in the lamount of 7-30
notes outstanding. The total application'of moneys tp the extinction
of principal was therefore $121,270,378,35. There wais paid, in addition, $17,292,362.65 as premium on bonds purchased, making a total expenditure of $138,562,741. Of this sum, $105,053,443124 was derived
from surplus revenues' for the year, and $33,509,297.76 'was taken from
cash in the Treasury. The purchases Of bonds aggregated $82,568,050
of 4J per cents and $38,106,400 of 4 per cents. The effect pf the operations of the year upon the annual interest charge was a reduction of
$5,239,580.65., ' '
10
REPORT ON THE PINAIsfCES.
THE CURRENCY.
The causes which for some time past have gradually been changing
the composition of the circulating medium, produced* their effect during the past fiscal year. Under the operation of the laws relating to
silver about $34,000,000 was added to the stock of that metal. The
contraction of the national-bank circulation, brought about by the^ reduction of the bonded debt, amounted to $41,000,000. But along with
these changes, which have come to be ordinary, another made itself
felt, for the first time recently, to a degree that left an impression upon
the year's "record. For the first time since gold began to be accumulated preparatory to the resumption of specie payments, the end of
a fiscal year found the stock in the.country less than it had been a
twelvemonth before. The loss was $25,750,000. This, though a considerable sum, is yet less than 4 per cent, of the amount in the country;
and the fact of a loss itself lacks the significance which might attach to
it under different circumstances. In searching for a cause it is perhaps unnecessary to look beyond the unusual crowds of Americans that
have visited Europe the past season. Still, without these, it would not
have been strange if a loss of gold had occurred, since the influx of
that metal for some time had been greater than could be expected to
be maintained, having amounted to $115,000,000 in the two years preceding the last.
The metallic stock of the country, as estimated by the Director of
the Mint, ai>d the outstanding issues of paper, as shown by the records
of this office, on June 30, 1888 and 1889, were as follows:
Gold coin a n d bullion
Silver d o l l a r s a n d b u l l i o n
F r a c t i o n a l s i l v e r coin
.'..
T o t a l coin arid b u l l i o n . . I
J u n e 30,1888. .
J u n e 30,1889.
$705, 818, 855. 00
310,166,459.35
70, 406, 376.00
$680, 063, 505. 00
343, 947, 093. 00
76, 601, 836. 00
1, 092, 391, 690.35
1,100,^612, 434 00
230, 806. 00
56, 807. 50
63, 835.00
189, 530. 00
6, 922. 643.82
252, 368, 321.00
346, 681, 016.00
14? 915, 000.00
142, 023, 150.00
229,491, 772.00
201, 170.00
56,442. 00
62, 955.00
185,750.00
6, 916,690.47
211,378,963.00
346, 681,OJ6.00
17,195,000. 00
154, 048,552.00
202,629,746.00
992, 942, 881.32
999,356,284.47
2, 085, 334, 571.67
9, 968,718.47
State-bank notes
Old d e m a n d n o t e s
One a u d t w o y e a r n o t e s
Compound interest notes
Fractional currency, estimated
National-bank notes
United States notes
^. .
Certificates of deposit, a c t of J u n e 8,1872
G o l d certi
ficates
;
Silver certificates.
.
Total paper currency
Aggregate.!
The following table shows the amounts of the several kinds of currency
in the Treasury and in circulation :
J u n e 30, 1888.
In Treasury.
Gold
Silver
Old x>aper i s s u e s
National-bank notes
United States notes
C e r t i t i c a t e s of deposit'; a c t , o f 1872.
Gold c e r t i f i c a t e s / .
Silver c e r t i f i c a t e s
Total.
I n circulation.
J u n o 30, 18
I n Treasury.
.$314, 704, 822.46 $391,114, 032. 54 5303, 387,719.79
280,683,125. 70 105,889, 709. 65 314, 935.151. 52
1,357.92
7,462, 264.40
1, 094. 76
7, 055, 541.08 245, 312, 779.92
4,150, 537. 75
53, 345, 975. 89 293, 335, 040.11
47, 296, 875. 54
14, 665, 000.00
250,000. 00
. 240,000.00
20, 928, 500. 00 121, 094, 650.00
36, 918, 323. 00
28,732,115.00 200,'759, 657. 00
5, 487,181. 00
705, 701,438.05 1,379,633,133.02
I n circulation.
$376,675, 785.21
105, 613,777. 48
7,421, 912.71
207,228,425.25
299, 384', 140.46
16,955,000.00
117,130, 229. 00
257,142, 565.00
712,410,883. 36 1, 387,551,835.11
11
TREASURER.
Prom the face pi the preceding statements it wouM appear that there
was an increase both in the,aggregate monetary supply and in the
amount held by the people. The certificates of deposit are, however,
merely representative of moneys in the Treasury, and to count them
with the coin and notes to which they give title would be a duplication. Tf these be eliminated, and the actual moneys disposed according
• to ownership, the result will be as shown below :
•
Outstanding.
"l
/Mne30,1888.
Gold
Silver .
Notes
.
..-o
I n circulation.
I n Treasury.
^
.1
w...;....
Total
$193, 610,!172.46
79, 923,|468. 70
45, 737,1874. 89
$705, 818, 855. 00
386, 572, 835. 35
606, 512, 959. 32
1,379,6.33,133.62
319,271,1516.05
1, 698, 904, 649. 67
n
$512,208,682.54
306, 649, 366. 65
560, 775, 084 43
1
J'une 30,1889.
680,063,505.00
420, 548,929. 00
565, 482,986.47
Gold . .
Notes
i.
1, 666, 095, 420.47
Total.
186,257,490.79
57,792,1586.52 •
34, 493, ;508. 05
278, 543,'585., 36
493, 806, 014.21
362, 756,342.48
530, 989,478. 42
1, 387,551, 835.11
These figures make apx^arent a contraction of about ^33,000,000 in the
currency, resulting from the changes already pointedtout in the stock
of gold, silver, and national-bank notes. In combination with this the
$41,000,000 paid out of the Treasury projduced an increase of $8,000,000
in the circulation.. Of the losses, $18,000,000 in. gold ^nd $30,000,000 in
notes were taken from the public, whose ownership of silver increased
by $56,000,000. The ratio of gold to the total stock of money was 41.5
per cent, at the beginning of the year and 40.8 at the cl(^se. In the'active
circulation the proportion of gold fell off' from 37.1 to S5.6 per cent.
To show the significance of these facts, the supply qf precious metals
and of circulating notes other than certificates of deppsit and the proportion of gold to the aggregate are given below for the same date in
each of the past five years:
|
.
1
• 1886.
1885.
Gold
Silver
Notes .
:
...................
Total
1887.
jl888.-
1889.
$588, 697, 036
283, 478, 787
672, 793. 236
$590,774,461
312, 252, 843
665, 891, 618
$654, 520, 335
'352,993,566
633, 489,. 036
$7()5, 818, 855
386, 572, 835
6d6, 512, 959
$G80, 063, 505
420, 548, 929
565,482,986
1, 544, 969, 059
1, 568, 918, 922
1, 641, 002, 937
1, 69,8, 904, 649
1,666, 095,420
88.1
37.7.
39.9
P e r c e n t , of gold
i
41.5
40 8
.1 .
The figures for the actual circulation are as follows sj
.
1885.
1886.^ ,
1887.
1888.
1889.
1
1
Gold
Silver
Notes
: Total........
P e r c e n t , of gold
$468,398,141
184,323,836
647, 385,147
$434, 263, 950
186, 958, 838
638, 988, 885
$467,766,118
246, 250, 603
611,112,655
$512, 208, 683
30'6, 649, 367
560, 775, 084
1,300,107,124
1, 260, 211, 673
1, 325,129, 376
1, 37^, 633,134
3,387,551,834
^ 36.0
34.5
35.3
37.1
35 6
$493, 806, 014
362, 756, 342
530, 989, 478
1
1
12
REPORT ON THE FUSTANCES.
In becoming practically the sole issuer of currency, ^the Government
has assumed the duty of supplying the,needs of the public for a circulating medium. Those needs are not the same from year to year or
from season to season., The yearly changes depend upon the growth
of the population and the development of business. Their effects are
seen in the almost uninterrupted expansion of the currency since 1873,
which has been the net result of the accumulation of gold, the purchase of silver, and the variations that have occurred from time to
. time in the volume of circulating notes. The means of responding to
future changes of this character must be provided by legislation; and
since the amount of the direct paper issues of the Government is fixed
by law, while the national-bank circulation is affected by other considerations than the need for currency, and is at present threatened with
absolute retirement, the monetary situation must before long claim the
serious attention of OongresSo
With the variation^ in the wants of the country produced by the
demands of business in different seasons it falls largely upon the
Treasury to deal. The movements produced each year by these causes
are considerable, and it has been shown by experience that unless they
are allowed free flow the business public or the Treasury, or both, will
suffer embarrassment. Various ways have been tried in the past for
aiding in the distribution of currency, particularly the smaller denominations, which takes place several times a year, being largest in the
autumn months. Among the expedients adopted have been the sale
of bill's of exchange, effected at a profit over the cost of the transfer of
funds necessary to meet them5.the shipment of silver coin or certificates free of charge in return for gold deposited in ISTew York; the
shipment of paper currency, at the cost of the consignee, in exchange
for other denominations sent to the Treasury, and the sale of circulating notes or certificates at a premium.
During the past season, which was unusually active, the plan was
adopted of forwarding currency from Washington at the expense of the
consignees, under othe Government contract with the United States
.Express Company for the transportation of' public moneys, in return
for deposits with the Assistant Treasurer in 'New York. As comparatively little discrimination on account of distance is made in the
rates fixed by the contract, this arrangement proved very satisfactory
to the public as well as to the Treasuiy. The currency needed for the
movement of the crops was amply and promptly supplied, with only
some little embarrassment to the Treasury in providing the denominations asked for. This arrangement, however, has recently been terminated by the express company on the ground that such transportation
does not come within the.provisions of the contract.
I t is important that the relations between the Treasury and the business public, particularly with regard to the facilities that ought to be
provided for the delivery of currency at distant places and the return
of worn notes for redemption, should be more definitely settled. Especially incumbent upon the Department is i t to foresee the wants of the
people in the way of circulating medium and to be always ready to
meet any demand that may properly be made. The Treasurer should
be kept well supplied with the various denominations of paper, to avoid
the unnecessary difficulties which have often arisen from neglect of this
obvious precaution. Perhaps the least defensible plea that could be
opposed to his requisitions is t h a t the notes can not be printed fast
enough. As a means, of keeping the circulation in good condition, of
aiding in the prevention of losses by wear, of making the work of coun-
13
TREASURER.
terfeiters more difficult and their detection more certain^ it would doubtless be a wise and popular measure to provide for the return of mutilated
paper currency to the Treasury at the expense of the^ Government.
'
UNITED STATES NOTES. '
In pursuance of the policy of limiting the smaller dienominations of
the paper currency to silver certificates and the larger to gold certificates, the volume of the legal tenders has been rapidly concentrated
into notes of the medium sizes. Kone were issued the ipast year below
ten or above one thousand dollars. The largest increase was in twenties. ••
•
" • ^'
I
.^
.. .
The redemptions of worn and mutilated notes amounted to $59,450,000, a degree of renovation not more than sufficient, according to the calculated average life of these notes, to keep the circulation in good condition. The redemptions at New York in gold were $730|,143. The table
below shows the amounts of each denomination outstanding at the close
of each of the last four fiscal years.
|
1887.
Denomination.
One dollar . .
*.
Two dollars
Fivedollars
Ten dollars
Twenty doUars.
T'ifty dollars
One hundred dollars
Five hundred dollars
One thousand dollars
Five thousand dollars
Ten thousand dollars
*
-*.. ,- - .
:
Total...
Less unknown denominations destroyed in sub-treasury in Chicago
fire
=
'i
Outstanding
-.
$17,603, 922.40
18, 204,369.60
85, 629,219. 00
66, 658,661. 00
55, 078,379.00
23,291, 265. 00
31, 359,700.00
12, 424,000.00
37,361, 500. 00
60, 000. 00
10, 000. 00
347,681.016.00
1, 000, 000. 00
346,681,016.00
1888.
$8,797, 376. 50
9,008, 572. 00
95,064, 850.50
80, 371,471.00
63,929, 361.00
21, 908,985.00
29, 643,400.00
7, 704,500. 00
31,197, 500. 00
45, 000.00
10, 000. 00
$5,180, 232. 50
4,976, '936. 00
81,054,872.50
86, 264, 401.00
84, 813,924.00
21,870, 550. 00
31,104,100. 00
8, 068, 000. 00
24, 303, 000. 00
35, poo. 00
10, 000. 00
347, 681, 016. 00 347,681,016.00
1, 000, 000.00
1,000,000.00
1889.
$3, 714,527. 90
3; 351,293. 60
58, 334,960. 50
86,584, 253.00
93,413, 246. OD
•24,242,415.00
34, 808,820. 00
14,499, 500. OO
28, 687,000.00
35, 000.00.
10, 000. 00
347,681,016.00
1,000,000.00
346, 681, 016.00 346, 681, 016. 00 346, 681, 016.00
CERTIFICATES OF DEPOSIT, ACT OF JUNE 81 1872.
There was a good deal of activity in the issue and return of certificates
of deposit for IJnited States notes, without resulting in! much change in
the amount outstanding. The total issues and redempti'ons have been as
follows:
i
Fiscal year.
1873
1874
1875..
1876
1877
1878
1879
1880
1881.
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
612, 850, 000
OutstandTotal
ing at close
of fiscal
redeemed.
year.
Fiscal year.
$25,430,000 $31,810, 000 1 1882
78,915, 000 58,990,000 1883.. - „
159, 955, 000 59, 045, 000 1884
268, 260,000 33,140,000 1 1885..
324, 305, 000 53,980,000 1886
418, 720, 000 46,245, 000 1887525,400, 000 29,330, 000 1888
588,660,000 13,125, 000 1 1889
601, 235, 000 11,6.15,000
Total
issued.
Outstand1 Total
ing at close
redeemed.
of fiscal
year.
$629, 760, 000 $616,400,000 $13,360, 000
649, 790, 000 636,610,000 13,180,000
676, 660, 000 ^64,430, 000 ^12,230,000
733,215,00^ 703, 930, 000 29, 285,000
780,865,000 [762, 755, 000 18,110, 000
815, 765,000 806, 745, 000
9, 020, 000
839, 875, 000 825,210, 000 14,665, 000
878, 815, 000 $61.860,000 16,955,000
14
REPORT ON T H E FINANCES.
GOLD CERTIFICATES.
To meet an urgent demand, a new issue of gold certificates, of the denominations of iive^and ten thousand dollars, payable to order, was
begun in E"ovember, 1888, reaching $48,000,000 by the end of the year,
with $45,000,000 outstanding. The greater favor with which this issue
was received caused the return of $31,000,000 of the certificates payable
to bearer, so that, with the redemption of $2,000,000 of the series of 1863,
there was a net increase of $12,000,000 in the total outstanding. The
holdings of the Treasury, however, increased by $16,000,000; hence the
net result of the year's changes was a decrease of $4,000,000 in the actual
circulation. The issues and redemptions during the year, by denomina' tions, are given in the following stateme'ntV
>
'
Issued.
Outstanding June
30,1888.
Denomination.
T w e n t y dollars.'
:..
Fifty d o l l a r s . . . . . . . . . . . . .
One h u n d r e d dollars
Five hundred dollars....
One thousand dollars
FiA'^e t h o u s a n d d o l l a r s . . .
T e n thousand dollars
Account Geneva award .
Total
During
fiscal
year.
T o J u n e 30,
1889.
$12, 962,000
10,245,150
13, 609, 000
12, 311, 000 $2, 000, 000
25,501,000 6, 000, 000
23, 865, 000 30,155, 000
43, 470, 000 41,120,-000
Eedeemed.
During
fiscal
year.
$21, 040, 000. 00
17, 800, 000.00 1, 801,
40, 234, 300. 00 2, 021,
56, 844, 000. 00 3, 235,
167,881,000, OOjlO, 287,
530, 540, 000. 00 17, 020,
470,450, 000.00 30, 900,
33, 000, 580.46
800
900
500
500
000
000
T o J u n e 30,
1889.
Outstanding J u n e
30: 1889.
$10, 060, 898.00$10, 979,102
9, 356, 650. 00 8, 443, 350,
28, 587, 200.00 11, 647,100
45,^768,500.00 11, 075,500
146, 667, 500. 0021, 213, 500
493, 540, 000.00 37, 000, 000
416. 760, 000. 0053, 690, 000
33, 000, 580. 46
142, 023,150.79,275,000 1, 337,789, 880.4667, 249, 5981,183, 741,328.46 154,048,552
The aggregate transactions of the Treasury in these certificates,
year by year, are shown below:
Fiscal year.
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
I§84
1885
1886
1887
1888
1889
Issued during
fiscal year.
$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
65, 570, 500.00
81,117, 780.46
70, 2.50,100. 00
90, 619.100. 00
58,141, 200. 00
50, 342,400.00
12, 31-7, 400. 00
86, 710, 000.00
41,470,000.00
63,000,000.00
1,040, 000. 00
85,160, 000. 00
79, 275, 000. 00
o
Total issued.
E e d e e m e d durTotal redeemed.
ingfiscalyear.
$98,493, 660.00 $87,545,800.00
207,615,280.00 101, 295, 900.00
285, 575, 680.00 79,055,340.00
366, 238, 840 00 65, 255, 620.00
75,270,120.00
442,969,900.00
499, 546, 900. 00 7 t , 237, 820. 00
562,776,400.00 ' 51,029,500,00
618, 346, 900. 00 48,196,800.00
97, 752. 680.46
699,464,680.46
769, 714, 780. 46 71, 278, 900. 00
860, 333, 880.46. 83, 734, 000.00
918, 475,080.46 45, 250, 000. 00
968, 817, 480.46 47, 548, 000. 00
981,134, 880.46 41, 270, 700.00
7,409,100. 00
981,134, 880.46
2, 221, 680. 00
981,134, 880.46
745, 800.00
981,134, 880.46
1, 067, 844, 880.46 9, 368,480. 00
1,109, 314, 880'. 46 25,455, 980. 00
1,172,^314, 880.46 21,069,520.00
10,188, 895.00
1,173,354,880.46
9,687,428.00.
1,173, 354, 880.46
1, 258, 514,880. 46 64, 623, 667. 00
1, 337, 789, 880.46 67,249,598.00
SILVER
Outstanding at
close of
fiscal year.
$87,545,800.00
$10, 947, 860'. 00
188, 841, 700. 00
18, 773, 580.00
267, 897,040.00
17, 678, 640.00
333,152, 660.00
33, 086,180.00
408,422,780. 00
34, 547,120.00
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, 367,000.00
965, 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
1,031,991,740.46
140, 323,140. 00
1,042,180,635.46. 131,174, 245.00
1,051, 868, 063.46 121,486, 8H. 00
1,116,491,730.46
142, 023,150. 00
1,183,741,328.46
154,048,552.00
CERTIFICATES.
The increase in the circulation of silver certificates has kept pace
with^the rate for the two previous years^ being about $56,000,000. Of
this sum $33,000,000 was in new issues and $23,000,000 was taken
from the cash in the Treasury. The total increase of $169,000,000 in
15
TREASURER.
three years, against a coinage of $100,000,000, has prac.tically taken up
the margin of free coin in the Treasury, so that in future, unless there is a
considerable return of certificates, the supply will practically be limited
by the purchases of silver.
|
It appears that the new issues of the .denomination of twenty dollars
and under have fully met the needs of the country, so iong an embar-,
rassment to the Treasury, for small bills. No further difficulty is apprehended in furnishing any denominations of certificates that may be
wanted, within the limit, of course, of the total issue authorized-by law.
The following table shows the course of the issues arid redemptions
during the year:
i
Issued.
Denomination.
T w o dpllars
F i v e dollars
T e n dollars .
. ..
T w e n t y dollars . . . . . .
Fifty dollars
One h u n d r e d dollars .
F i v e h u n d r e d dollars
One thousand dollars
Total
^ .
Outstanding J u n e
30,1888.
During
T o J u n e 30,
fiscal y e a r .
1889.
Redeeniedo |
i
Daring
fiscal y e a r .
$26, 731, 604 $8, 772, 000 $37,100, 000 $7,595,632.20
18, 597, 238
5, 800, 000 25, 200, 000 4,159, 572. 80
51, 609, 860 38, 540, 000 91,000,000 4, 570,120 00
80,465, 510 20,480, 000 149, 274 000 13, 508, 887 00
43, 840,160
160,000 83, 746, 000 8, 890, 544 00
4, 391, 600
932,790 00
12, 050,000
3, 053, 300
727,480 00
14,140, 000
480,500.
134, 000 00
13, 650, 000
322, 000
95, OOO 00
23,490, 000
229,49i; 772
T o J u n e 30,
1889.
Outstanding
J u n e 30,1889.
$9,1921 028. 20 $27, 907,971.80
4, 962; 334.80 20, 237, 665. 20
5,420; 260.00 85, 579, 740. 00
61, 837'. 377.00 87,436, 623. 00
48, 636, 384.00 3'5,109, 616. 00
8, 591,190 00
3,458,810. 00
2,325,820.00
11.814,180 00
34,Q, 500.00
13, 303;, 500 00
23, 263, 000 00
227,000.00
73, 752, 000 449, 650, 000 40,614,026 00 187,020!, 254 00 262,629,746.00
i
Both in aggregate volume and in actual circulation these certificates
now exceed every other kind of paper money except United States notes.
The following table shows the total issues and redemptions, with the
amounts outstandingj for each year since 18781 ,
|
Fiscal year.
1878
3879
1880
1881
1882
1883
1884
1885
1886
1887
1888
Issued 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, 852, 000
105,896, 000
73, 752, 000
Eedeemed
T o t a l i s s u e d . d u r i n g fiscal
year.
$1, 850,410
11,000,000
21,018,000
61, 930,000
86, 230, 000
121, 270, 000
173, 550, 000
213, 550, 000
218,150, 000
270,002, 000
375, 898, 000
449, 650, 000
T o t a l redeemed.
I
$8,1460,^050
460,050
183, 680
8,643,730
119,740
10,1763,470369,820
20,!l33, 290
519,879
32,1653,169
005,140
52,1658, 309
990,045
73,!648, 354
523,971 .102,1172,325
286, 525 124,458,850
947, 378 146,1406,228
614, 026 187,1020,254
STANDARD SILVER DOLLARS.
Outstanding
a t close of
fiscal y e a r .
$1,850,410
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
229,491, 772
262, 629, 746
|
There has been no incident worthy of special note in jconnecticin with
the coinage of the standard silver dollars. The futility of all efforts
to force the coins into circulation having been demonstrated by former
experience, no extraordinary inducements to take them have recently
been held out to the public. The changes in the amou|nts outstanding
have been unimportant, but the tendency has been toward a falling off
in the actual circulation. The amounts issued and returned and the
expenses of distribution have been about as usual, butj in consequence
of the shipments necessary for storage, the total cost pf handling has
16
REPORT ON T H E EINANCES.
recently been heavy. Since the expenditure borne by the Treasury indistributing the dollars to the public has ceased to increase the circulation, and consequently has become a needless outlay, it might be worth
while to consider whether it would not be as well to stop this expense,
and place these coins, together with the fractional silver, on the same
basis as the other currency with reference to the mode of issuer To
require consignees of silver to bear the cost of transportation might
result in a decrease of the circulation, but the change could not be
great. On the other hand, the coins would have the advantage of being held by the Government strictly on a par with the other currency.
If to obtain them from the Treasury involved cost, they would perhaps,
not be so readily parted with. Hence the. effect upon the circulation
might be exactly the opposite to the one apparently regarded as certaiUc
At all events, the Treasury would effect an important saving, and the
anomalous discrimination against the credit of the silver coinage would
be removed, without giving the public any cause for complaint.
The aggregate coinage and movement of standard silver dollars are
shown in the following table:
Fiscal year.
1878
1879^.
1880:.......
1881
'...
1882...
1883:
1884
1885
1886
1887
1888
:.
1889...
Annual
coinage.
e
On h a n d a t 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
of t o t a l
, close of
t i o n d u r i n g i n g a t close of a n n u a l
coinage. •
year.
of y e a r . c o i n a g e dis- c o i n a g e outyear.
tributed.
standing.
1
$8,573, 500
$8, 573,500
27, 227, 500
35,801,000
27, 933,750
63,734,750
27, 637, 955
91, 372, 705
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, 434, 673 299,424,790
33,997,860 333, 422, 650
$7, 718,357
$855,143
28,147, 351
6, 798,506
44, 425,315
11, 655, 786
62, 544, 722
9, 518, 548
87,153, 816
3,162, 981
111,914,019 i 3, 350, 916
135, 560, 916
4,453,033
165,413,112
— 1 , 323, 644
181, 253,566
13,998,451
211, 483, 970
3, 036,427
243, 879,487
39,156
279, 081, 683
— 1 , 207, 336
$855,143
7, 653, 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
54, 337, 967
9.9
24.9
41.7
34.4
11.3
11.9
15.8
46.9
9.1
0.1
,
9.9
21.3
30.2
31.5
26.8
24.0
22.6
18.8
22.4
20.7
18.5
16.3^
FRACTIONAL SILVER COINo
The existing redundancy of subsidiary silver coin, shown by the large
amounts the Treasury has had to carry, was produced by the re-appearance of the old pieces in the circulation after the resumption of
specie payments, along with the coinage substituted in the place of fractional currency under the law of 1875. The excess of the present
stock over actual needs is co^nsiderable, but it is confined to the larger
denominations, the supply of dimes having had to be maintained by
new coinage.
Since the accumulation of these coins in the Treasury reached the
highest point, in 1885, there has been a constant outflow, interrupted
only by the fluctuations common to the whole currency at different seasons of the year. Taking into account the new coinage of dimes, which
since the redemption of the trade-dollars has been supplied at a large
profit from the metal so obtained, there have been absorbed permanently into the circulation during the past four years on an average
about $2,000,000 of fractional silver per annum. As this seems to have
been a natural consequence of the growth of the country and the development of business, there are good reasons for believing that with
judicious management the whole of the present stock of metal in these
coins may in a few years be put into active circulation. With a view
to such an end, desirable as it would be for various reasons, the Treasury should be always prepared to take advantage of applications for
17
TREASURER.
new coins, which are much better liked than those showing evidences
of wear, and the demands which spring up from time to time for a particular denomination, as an opportunity for working off' the old and
uncurrent stock on hand. With the aid of the recent appropriations
for recoinage a^ considerable advance h^s been made, both in the in^
crease of the circulation and in the way of ridding the vaults of obselete and unpopular pieces. As the subsidiary coins have been a source
of profit to the Government, and as they are not usefullfor purposes of
export, nor for any other as money when much worrj tliere is every
reason why they should be kept in good condition and not allowed to
accumulate beyond practical needs.
The amounts of the different denominations in the Treasury on June
30, 1889, are shown in the following table:
Office.
T r e a s u r e r U . S.,
Washington
Assistant treasurer U. S.:
Baltimore
Boston
Chicago
N e w Orleans .
New York
Philadelphia.
St. Loais
U.S. Mint:
Carson City..
Philadelphia .
Twenty-five
cents.
Twenty
cents.
$1,448,140.00
$634,640. 00
$5.20
$11, 085.00
$92. 15
50.00
200.00
54,950.00
31, 574. 60
17, 000.00
18,200.00
11, 555. 00
96,000.00
13, 000.00
20, 718.30
29, 000.00
700. )0
1,200. DO
90.00
120.00
924. DO
647. 1 5
50.00
8.25
500. DO
2,418.
620. )0
900. 00
18.00
371,950. 00
88,450.00
172,736.00
447,147.00
341, 000.00
937, 000. 00
181, 250. OO
185, 436.00
271, 650.00
305, 000.00
8,151, 000. 00 1,416; 000.00
289, 000.00
662, 000. 00
154, 392.25
6, 553, 955. 00
265, 350.00
1,063,'900.00
511. 00
4,534.00
.
140.00
65.60
100. 00
337.60
125. 00
Ten cents. F i v e cents.
83.25
1,100. 00
281, 610. 50
192. 74
704.87
74,100. 50
1.25
2.75
.80
U . S . A s s a y Office:
New York
St. L o u i s
In transit
Total
Three
cents.
Fifty cents.
Unassorted.
$8.10 $39,141.16
13, 741.85
64,732. 00
84, 596.00
698.71
75,049.49
201,175. 89
45, 796.41
.80
20,130, 573.00
4, 097, 266. 00
1, 023.40
378, 081.81
7,101. LO 1,194.35 524,932.31
MINOR COIN.
The minor-coin circulation continues in good condition and convenient
supply. The Treasury stock at the close of the fiscal ^ear was as follows:
Office.
Five cents.
Three
cents.
Two cents.
Unassorted.
One c e n t .
Total.'
1
Treasurer United States,
Washington
Assistant treasurer United
States:
Baltimore
Boston
Chicago
Cincinnati .'. . . .
New Orleans
New York
Philadelphia
San Francisco
St. Louis."
U. S. Mint, Philadelphia . . . .
U.S. Assay Office:
Denver
,
New Y o r k . . .
St. Louis
Total
FI 89
-..
.
2
$8,225.00
$42.00
2,300. 00
6,335.00
24, 850. 00
5,472.00
150. 00
31,170.00
2, 500. 00
6, 241.95
7, 200.00
60.00
90.00
$20. 00
25.00
133. 00
54.27
300. 00
39. 00
49.82
50.00
80.00
125.50
94, 443. 95
223.'23*
902. 50
389. 32
$2, 865.00
$862.51
$11,994.51
8,560.00
3, 555.53
9, 600. 00
380. 00
93.30
29, 760. 00
2,520.00
1,512.22
87.63
1, 593.01
350. 91
.11
164.22
65,681.54
11,027.63
11,598.54
34, 800.91
6, 024.11
347. 39
61, 653.25
7,031. 75
8,102.90
7,364.22
65,681.54
.29
.28
.74
.29
.28
.74
71, 046.24
225, 628. 06
58, 846; 05
373.25
1, 931. 75
18
REPORT -ON T H E FINANCES.
RECOINAG-E OF UNCURRENT COINS.
Worn and mutilated silver coins of the nominal value of $542,937.32
were transferred to the Mint for recoinage, at a net loss of $19,884.62,
which was covered by the appropriation of $20,000. The product was
put into dimes, for which there has been a constant demand. There
were also transferred $80,602,94 of minor coins to berecoined or cleaned.
The silver recoined was as follows :
Denomination.
Amount.
Fifty cents
Twenty-five cents
Twenty cents
Ten cents
Five cents
Three cents
$235, 682. 00
222 920 00
1 332. 60
34, 755. 00
• 11 731. 30
889 42
Total fractional silver coin
One dollar
•
507, 310. 32
35, 627.00
Aegresate
542, 937.32
MUTILATED, STOLEN, AND COUNTERFEIT CURRENCY.
The condition of the currency, as observed at the offices of the Treasury, shows a continuation of the improvement noted last year. With
aggregate handlings of paper money but slightly less, and of silver coin
considerably greater, the number of spurious pieces found was proportionately smaller than in the preceding twelve months. The following
is the record of counterfeit paper currency for the year:
Denomination.
United
States
notes.
One dollar
Two dollars
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
. ..
.
One*hundred dollars
..
Total
:...
Silver
certificates.
$8
56
375
780
1,060
1,200
100
$43
3,579
143
100
National- Compoundbank
interest
notes.
notes.
Total.
. $38
560
540
620
50
500
$50
200
$51
94
1,035
1, 320
1,680
1 300
800
2, 308
250
6,280
The receipts of silver coin and the number of counterfeits are shown
below:
Amount received.
Denomination.
Standard dollars
Half dollars
Quarter dollars
Total
•
-
- --
--
Numher of
counterfeits.
$59, 667,456.00
7,361, 934. 50
6, 551. 806.50
. 2,867
558
435
73, 581,197. 00
3,860
The deductions from the face value of mutilated paper currency
amounted to $6,848.£6. By a regulation published in the circular of
Jul3^ 11,1889, the methods of valuing fragmentary notes and certificates
were changed, so as to allow full payment for all pieces consisting clearly
of three-fifths of the original paper. Where less than this proportion
is presented, provided however there be two-fifths or more of the
whole, the owner is allowed oue-half of the face valuCe This arrange
19
TREASURER.
ment, which puts all the paper circulation practically upon the same
basis in this respect, and which appears to be accepted with satisfaction by the public, is intended to insure the full payraent of all notes
and certificates issued, so far as is consistent with safe administration.
FRACTIONAL CURRENCY.
The redemptions of fractional currency during the year amounted to
$5,953.35. The course of the redemptions since the issue ceased is shown
in the following table :
'
Fiscal year.
Fiscal year.
Amount.
Amount.
I
$14, 043,458. 05
3, 855, 368.57
705,158. 66
251,717.41
109,001.05
58, 705. 55
40, 556. 96
1877,
1878
1879.
1880,
1881
1882
1883
1884.
1885
1886
1887
1888
1889.....
$20, 029. 50
15,885.43
10, 088.30
7,123.15
7, 400. 00
5, 953.35
j.
1.
|.
i
In the appendix are given tables showing the amounts of each denomination and issue redeemed, beginning with the first year after the last
notes were paid out.
RECEIPTS FROM CUSTOMS AT NEW YORjK.
The record of the kinds of money received at the Few York customhouse, begun some years since as a convenient means of noting the
character of the active circulation, and, in purticular, c^f observing the.
proportion of gold and silver coming into the Treasury, has been continued, and the usual summary is given below. These receipts now
consist substantially altogether of legal-tender notes and gold certificates, the proportion of other moneys having been less the past year
than in any previous one since the record has been kept.
Period.
Fiscal
1884
Fiscal
1885
Fiscal
1886
Fiscal
1887..
Fiscal
1888
Gold coin.
$11,791,000
$3, 556, 000
Per Grold cer- Per Silver cer- Per
ct. tificates. ct. tificates. ct.
Silver
coin.
Per
ct.
T o t a l receipts.
year
$88, 750, 000 06.4 $29, 482, 00022.0 $13p, 000
$133, 713, 000
year
36,161,000 29.9 1, 544, 000
42, 779, 000 34.1 44, 660, 00035.6
15b, 000
125, 302, 000
59, 549, 000 44.9
941, 000
54, 343, 000 41.0 17, 404, 00013.1
390, 500
132, 627, 500
39, 939, 500 27.3 1,256,750
86, 887, 000 59.5 17, 564, 00012.0
468,750
146,116, 000
470, 800
144, 407, 484
year
year
1889.
January
February
March
April
May
June
I
year
16, 768, 000 11.6 1, 313, 200
1888.
July....
August
Septemher...
October
November
December
Fiscal
1889
United
States
notes.
,
,
.,
,
110, 227, 484 76.4 15, 628, 00010.
1,152, 300
870, 100
714, 60u
745, 700
667, 450
1, 004, 900
61,100
73, 500
47, 700
50, 850
25,780
19, 585
11. 754,486 83. .0 1,171, 500
12; 136, 923 87. 6 764, 537
10, 819, 032189.1
529, 406
10, 724, 958189.5
433, 800
8,385,807 87.2
515,300
9,469, 710 86.3
455, 300
1, 487,150 10.6
1, 220, 000 9.4
1, 237, 900 9.2
988, 400 8.3
1, 365, 200 12.3
2,013,510 18.8
14, 491
13,133
14, 203
17,198,
17,590 0.2
14, 880 0, '
11, 655, 95483.0
11, 020, 69485.1
11, 740, 48lt87.5
10, 624, 28188.8
9, 047, 33481.5
7, 968, 81474.5
year
, 13,407, 210 9.2
"~
370, 010 0.3 125, 348,473 85.3
866, 350
691, 400
412, 600
315,140
65.5,150
690, 690
7, 501,173 5.1
24,100
15, 900
27, 950
23,130
16,100
16, 950
14,163, 486
13, 860, 960
12,138,688
11, 978,438
9, 610,437
10, 966, 445
13,680
. ^,403
17, 328
17,134
11* 517
9i 822
14, 037, 625
12, 951, 630
13, 422, 511
11, 962,153
11, 096, 791
10,697,716
203 014
146, 889, 880
20
REPORT ON T H E FINANCES.
CLEARINa-HOUSE TRANSACTIONS.
Owing to the larger operations of the Treasury, the transactions with
the clearing-house in New York were unusually heavy, the total volume
having exceeded that of any previous year. The following statement
of receipts and payments through this channel is given in continuation
of tables published in former reports:
Period.
Fiscal
Fiscal
Fiscal
Fiscal
Fiscal
year
year
year
Vear
year
1884...
1885...
1886...
1887...
1888...
Checks sent to
clearing-house.
$116 666,
109, 420,
125, 782,
116, 671,
99, 399,
000.26
072.25
520. 53
928. 61
535.24
Checks received
from clearinghouse.
$295, 541, 948.32
278, 830, 720.11
276, 855, 487. 30
353,470, 901.64
337, 849", 743.13
Balances d u e
assistant
treasurer.
Balances due
clearinghouse.
$1, 331, 880. 02
694, 284. 08
1,643,279.86
181, 409. 57
382, 681. 63
$180, 207, 828. 08
170,104,931.94
152, 716,246.63
236, 980, 382.60
238, 832, 889. 52
1, 422, 894.17
20, 362,403.29
18, 340, 983.72
42, 568, 270. 37
40,248,641.18
15,789,611.42
21, 983, 748. 50
1888,
July
August
September
October
November
Decembjer
9,830, 204.30
10, 273, 561.88
10, 488, 683.11
12, 023, 930.06
9, 918,115. 71
12, 342, 375.91
30,192,
28, 614,
53, 056,
52, 272,
25, 707,
32, 903,
13, 893, 325.24
12, 591, 350.12
12, 284, 610.12
9,114, 725.88
10,433, 587. 67
8, 914, 534. 39
39, 741, 346.97
30, 592,857. 29
33, 640, 692.49
37, 905, 418.28
28, 577, 420.79
31, 224, 279. 91
132,109, 004. 39
424, 429, 651. 01
607.59
545. 60
953.48
571.24
727.13
230. 24
1889
January
February
March
April
May
June
F i s c a l y e a r 1889..:
846, 064.19
2,268,958.36
25,848,021.73
18, 847, 571.36
21, 356, 082.37
28,790,692.40
18,143, 833.12
22, 309, 745. 52
294, 589, 604. 98
NATIONAL BANKS.
There was a decrease of $41,097,200 in the amount of bonds held in
trust for the national banks, resulting from the withdrawal of $66,340,900and the deposit of $25,243,700. Of the decrease, $30,191,200 was
in those held as security for circulation, and $10,906,000 in those held
as security for public moneys. There remained on deposit at the close
of the year $148,121,450, belonging to 3,262 banks, for the former purpose, and $45,222,000, belonging to 270 banks, for the latter. The number of active banks was increased by 134, and the number of depositaries was decreased by 20, during the year. The amountof each kind of
bonds on deposit June 30, 1889, and the purpose for which they were
held, are shown in the following table :
Rate
per
cent.
Bonds issued to Pacific railroads
Funded loan of 1891
Funded loan of 1907
Total
6
4
To secure
circulation,
face value.
To secure public moneys.
Total face
value.
Face value.
Market value.
$4,324,000
42,409, 900
101, 387, 550
$1,403, 000
10, 849, 500
32, 969, 500
$1, 795, 840
11,581,841
42, 365, 807
$5,727,000
53, 259, 400
134, 357, 050
148,121, 450
45, 222,000
55,743,488
193, 343, 450
The popularity of the national banking system and the contraction of
the bonded public debt have produced two antagonistic movements—
the growth of the number of banks^ and the jiiminution of their aggre-
21
TREASURER.
gate deposits of bonds as security for circulation. In the last ten years
the number of active banks has increased nearly 60 percent., while the
amount of bonds held to secure circulation has decreased in about the
same proportion. The two movements can not go on much longer, unless the relations between the capital of banks and the Ideposit of bonds
required are changed by legislation. The minimum liinit of bonds fixed
by existing laws for the present capital of the banks is cjnly fifty or sixty
millions below the amount now on deposit, and of course is raised year
by year with the increase of the number of banks and the amount of
their capital. -The following table exhibits the number of banks and
of depositaries, together with the bonds held for them jby the Treasury
at the end of each fiscal year.
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
1889
Number Bonds held
Bonds held
Number
|of deposi- to secure cirto [secure
of banks.
culation.
public funds.
taries.
204
330
382
385
370
276
148
159
163
158
154
145
143
145
124
127
131
130
134
140
135
132
160
200
290
270
$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, 885, 550
380, 440, 700
390, 410, 550
391, 171,200
376, 314, 500
341, 394, 750
338, 713, 600
349, 546,400
354, 2.54, 600
361, 652, 050
360, 505, 900
360, 722,700
356, 596, 500
334, 147, 850
312, ,145, 200
275, 974, 800
191, 966, 700
178, 312,650
148, 121,450
$3q, 009, 750
32, 707, 500
38,177, 500
3^, 177, 950
38, 517, 950
25;, 423, 350
16, 072, 500
15, 536, 500
15, 329, 000
1^, 210, 000
15,. 390,200
14,547,200
14, 578, 000
15,377,000
13, 858, 000
14,421,400
141, 777, 000
l i 295, 500
15,925,000
17,116,000
17, 060, 000
1% 607, 000
19, 6.59, 900
26,48.5,500
56,128, 000
45, 222, 000
Total of
bonds held.
$1,185, 750
74,276,650
268, 697,200
365. 487, 850
379,785,450
380, 013, 850
368,274, 950
358,351,050
375,422, 050
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
375,801,400
376, 647; 700
373,712,500
351, 207, 850
329, 752, 200
295, 634, 700
218,452, 200
234,440, 650
193, 343,450
The amount of public moneys held by depositary banks ran down
during the year from $58,712,511.11 to $47,259,714.39, tjhe result mainly
of the voluntary acts of the banks in surrendering the deposits and
withdrawing the bonds held as security. The movement took place between the months of September and March, a period during which also
large amounts of bonds held as security for circulation were withdrawn.
Of the deposits remaining at the close of the year, $43,1203,323.97 stood
to the credit of the Treasurer and $4,056,390.42 to the dredit of disbursing officers.
I
The following table exhibits, by fiscal years,the amount of the receipts
of public moneys by depositary banks, of the funds transferred to and
from them, of the drafts drawn on them, and of the balances standing
charged to them at the end of each year. The discrepancies between
the balances given and those reported as assets of the Treasury arise
from differences in methods of statement. The table shows the transactions between the banks and the Treasurer only, credit being given
for drafts when they are drawn, and no allowance bein^g made for unavailable funds, of which $214,761.38 are carried in the accounts. In the
statements of assets and liabilities the amount standing to the credit of
22
REPORT ON THE FINANCES.
disbursing officers are included, the unpaid drafts are treated as a liability, and the unavailable items are thrown out.
Funds transferred
to depositary
banks.
Funds transferred
to T r e a s u r y b y
depositary b a n k s .
1 8 C 4 . . . $153,395,108.71
18G5...
987,504,639.14
1866...
'497, 566, 676.42
1867...
351,737,083.83
1868...
22.\ 244,144. 75
1869...
105,160.573.67
1870...
120,084,041.79
1871...
99, 299, 840.85
1872...
106,104, 855.16
1 8 7 3 . . . • 169,602,743.98
1874...
91,108, 84G. 70
1875...
98, 228, 249. 53
1876...
97,402, 227. 57
1877...
106, 470, 261. 22
1878...
99,781,053.48
1879...
109, 397, 525.67
1880...
119;493,171. 94
1881 . . .
131,820,002.20
1882 . . .
143,261,541.41
1883...
145, 974, 250. 86
1884...
129,100, 449. 35
1885...
119,056,058.94
1886...
123, .592, 221.68
1887...
128,482,769.20
1888...
132, 591, 946. 77
1889...
139, 316, 214.49
' $816, 000. 00
8,110, 294. 70
13, 523, 972.62
8. 405, 903. 63
9,404, 392. 00
10,052,199.44
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, 48;?, 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
20, 723, 547.15
$85, 507, 674. 08
583, 697, 912. 72
363, 085,.565. 65
331, 039, 872. 57
21.5, 311, 460. 69
114,748,877.24
111,123,926.18
89, 428, 544. 04
94, 938, 603. 76
108, 089, 786. 76
134,869,112.57
82,184, 304. 05
89,981,146.99
94, 276, 400. 35
90,177, 963.35
100, 498, 469. 29
109, 641, 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
152, 338, 700. 22
$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, 688,442. 52
17, 633, 235.03
16,464, 462.15
16,432,743.24
15, 782, 267.54
19, 309, 039.25
4, 730,836, 505. 31
240, 064,154. 75
3,944,874,751.37
982, 720, 396. 78
Fiscal
Total
Receipts.
Drafts drawn
depositary
banks.
on
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
62,185,153.64
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, 9.33, 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
43,305,511.91
SEMI-ANNUAL DUTY. '
The sums paid into the Treasury by the national banks as semi-annual
duty for the fiscal year aggregated $1,410,331.84, a falling off of
$205,795.69 from the previous year, due to the contraction of the circulation on which this tax is levied. The total amount of the duty paid
since the organization of the national banking system is $137,664,135.57,
of which $68,868,180.67 was assessed on circulation, $60,940,067.16 on deposits, and $7,855,887.74 on capital.'
PACIFIC RAILROAD SINKINa FUNDS.
First-mortgage Pacific railroad bonds of the face value of $823,000
were added during the year to the sinking fund of the Union Pacific
Eailroad, and $314,000 to that of the Central Pacific Eailroad. The
securities held for these funds at the close of the year are described in
the following table:
C l a s s of b o n d s .
B o n d s is,sned l o Pacific r a i l r o a d s . . . . . . . .
...................
U n i t e d S t a t e s funded loan of 1907
U n i o n a n d C e n t r a l Pacific R a i l r o a d first-mortgage t h i r t y - y e a r
bonds
Total
E a t e For Union Pa- For Central Pacific Railcific Railper
ceut. road Company. road Company.
$2, 548, 000
6
4
$1, 043, 000
4, 478, 650
6
2, 018, 000
666, 000
7, 539, 650
3, 214, 000
23
I'REASUX^ER.
INDIAN TRUST FUNDS.
In pursuance of instructions from the Secretary of tihe Interior in his
letter of November 12, 1888, $37,000 of the bonds of the State of North
Carolina and $3,000 of the bonds of the State of South Carolina were
transferred from the Indian trust fund to the United States and deposited for account of the Secretary of the Treasury, for whom they
are now held. No other changes have been made in these funds. The
securities held for them are described in the table below. All the States
are in default for principal and interest, excepting Maryland. The
interest on the bonds of that State is paid as it matures
Registered.
Class of b o n d s .
Coupon.
Total.
STATE AND CANAL BONDS.
$108,000
132, 000
37, 000
A r k a n s a s , funded debt
Florida, S t a t e s t o c k s
Louisiana, State stocks
Maryland, State stocks
^S^ortli Carolina, S t a t e s t o c k s
Sotith Carolina, S t a t e s t o c k s
Tennessee, State stocks
".
Virginia, State stocks
^
V i r g i n i a , C h e s a p e a k e a n d Ohio C a n a l b o n d s .
1,000
$168,000.00
132, 000. 00
37, 000. 00
8, 350.17
155, 000. 00
122,000.00
314, 666. OCt
540, 000. 00
1, 000.00
738, 000
1,758,016.831
$8, 350.17
191,666.001
540, 000. 00
155, 000
122,000
123, 000
UNITED STATES BONDS-
B o n d s i s s u e d to Pacific r a i l r o a d s
280, 000. 00
280, OOd. 00
,,
Total.
1, 020, 016. 83§
DISTRICT OF COLUMBIA TRUST FUNDS.
Securities as described below are held for the District of Columbia:
Class of s e c u r i t i e s ,
D i s t r i c t of C o l u m b i a 3.65 p e r c e n t s . United States 4 pur cents
U n i t e d S t a t e s 4^ p e r c e n t s
U n s i g n e d D i s t r i c t of C o l u m b i a
3.65 p e r c e n t s
B o a r d of a u d i t certificates
C h e s a p e a k e a n d Ohio C a n a l b o n d s . .
Total-
Contractors'
guaranty
fund.
Metropolitan
police
fund.
$27, 000
,138, 650
850
$28, 000
2,550
166, 500
30, 550
Firemen's
relief fund,
Miscellaneous.
$56, 000. 00
142,150. 00
850.00
;1, 000
950
1,950
Total.
, 530, 000. 00
20,134.72
p4, 285. 00
., 530, 000. 00
20,134. 72
84, 285. 00
1, 6,34,419. 72
1, 833, 419. 72
CAPTURED AND ABANDONED PROPERTi
In accordance with instructions from the Secretary of the Treasury
pursuant to a judgment of the Court of Claims rendered May 13,1889,
and certified to him under the provisions of the act of Congress approved March 3, 1887, the three swords formerly beloijigin g to General
David E. Twiggs, and held in this office as captured and abandoned
property, were delivered, on May 24, 1889, to General lA. C. Myers, executor of the Twiggs estate. The bonds of the State of Louisiana held
for the Secretary of the Treasury are now the only rem aining property
classed under this heado
24
REPORT ON T H E FINANCES.
MISCELLANEOUS TRUSTS.
With the exception of the transfers noted in the preceding paragraph,
there have been no changes in the condition of these trusts. IJnited
States bonds are held, under various provisions of law, for the following corporations in the sums set forth :
American Printing House for the Blind, 4 per cents
Pennsylvania Company, 4^ per cents
=
Manhattan Savings Institution, 4 per cents
»„
Alaska Commercial Company, 4 per cents
Total
„
= --o
^.
^250,000
200,000
75,000
„ 55,000
...,
580,000
The securities held for the Secretary of the Treasury, and belonging
to the United States, are as follows:
Arkansas State bonds.. J'
Louisiana State bonds
-o
North Carolina State bonds
„
Tennessee^State bonds
«
Virginia State bonds
..
Nashville and Chattanooga Railroad bonds
Chesapeake and Ohio Canal bonds
South Carolina State stocks
Total
„
=,
«...
-.
'...
$625,000
545,480
50,000
21,000
41,800
500,000
12,000
3,000
1,798,280
REDEMPTION OF NATIONAL-BANK NOTES.
The fiscal year witnessed a decrease of $41,000,000 in the nationalbank circulation—the largest that has taken place within any like period since this currency was first issuedo The contraction now going
on, which began in 1883 with the redemption of the 3 per cent, bonds,
has amounted in round numbers to $150,000,000, $50,000,000 in the first
half of the interval, and $100,000,000 in the last half. The volume of
the circulation outstanding on June 30 was a little over $211,000,000,
with $78,000,000 of lawful money on deposit in the Treasury for further
reductionSo
In proportion to the circulation the redemptions during the year were
unusually heavy. This is particularly true of the first seven months,
through which the movements that began about December, 1887, oc-'
casioned by the scarcity of one and two dollar notes, were continued.
1^0tes of the net value of $88,217,860.57 were presented, about 10 per
cent, less than the previous year, while the average circulation was 33
per cento less. Since February there has been a distinct falling off in
the ainounts received, which is sufficiently explained by the diminution
of the volume outstanding and the absence of any active cause that
would stimulate the movement of the notes to Washingtouc
There has been no significant variation from the ordinary course into
which the redemption of bank-notes has fallen. The only unusual incidents of the year were connected with the funds for the reduction and
retirement of circulation. These funds, which in July, 1887, amounted
to upwards of $100,000,000^ and excited a good deal of concern, had
accumulated mainly from the operation of two different causes; first,
the redemption of the 3 and 3J per cent, bonds, which were largely held
as security for circulation, and, secondly, the provisions of the act of
July 12, 1882, under which banks extending their corporate existence
were required to deposit lawful money for the retirement of the notes
issued prior to the date of the extension.
25
TREASURER.
The first of these causes ceased to exist in July, 1881|, and the second
became practically inactive a year later. Consequently during" the last
two fiscal years the aggregate of these funds has steadily run down
from month to month, aud in the ordinary course it will pontinue to do so
until it is reduced to an unimportant figure. The dep|osits required by
the law of 1882 will never again be large, having been oii|ly $1,785,615 last
year as compared with $18,813,797 the year before. The purchase of
bonds held as security for circulation produces the sanae effect as their
redemption at maturity, but by the same act of 1882 the deposits for the
withdrawal of bondsso held shallnotexceed $35000,000in anyone month,
excepting in the case of bonds called for redemption. The limit of the
additions to these funds from the withdrawal of bonds for the reduction of circulation is therefore $36,000,000 a year. Unless unfavorable
financial conditions should arise, or unless, through legislation or otherwise, the national system should become unpopular, there are not likely
to be any large deposits in consequence of failures and liquidations.
The only event in immediate prospect that threatens to swell these
funds is the maturity of the 4J per cents, and the probability now is
that this can not draw more than $20,000,000 or $25,000,000 into the
Treasury for the retirement of bank-notes.
I
The iuet deposits on this account during the fiscal year were
$32,484,415, of which $1,115,220 were for banks in liquidation or in the
hands of receivers, $29,583,580 for active banks reducing their circulation, and $1,785,615 for the retirement of notes issued [prior to the extension of charters. The total reduction provided for by these deposits
is made up of the first two classes, and amounts to $30,698,800. The
limit of $3,000,000 per month was reached by the tenders in September,
1888, for the first time after it was fixed, and again e|very successive
month until May, when there was a sudden falling off' in the amounts
offered. The bonds released by these deposits were withdrawn for sale,
and the whole movement appeared to be prompted by the desire to
realize the high premiums that were paid.
|
The table below gives by classes and in the aggregate the deposits
and redemptions on these accounts for each month of the year, with the
balances of the deposits remaining on hand. The tables in the appendix
show, by years, the whole of the operations of the Treasury in the redemption of national-bank notes.
Deposits.
Month.
1888—July
August.......
September
October
November
December
1889—January
February
March
April
May
June
Total.
For retire- For reduction.
ment.
$107, 010
38, 200
45, 000
147, 895
44, 350
168, 995
72, 880
124, 070
105, 640
139, 750
65, 18056, 250
Redemptions.
Balances.
53, 819 281. 00
3,424] 798. 00
3, 471,1728. 00
3, 652,1712.45
3,712,1558.70
3,541,1014.00
5,492,1956.00
4, 527, 080. 25
3,188, 750. 50
3, 075, 596. 50
4, 082, 254. 50
4, 397, 392.00
590, 029, 866. 65
87, 819, 564. 65
87, 307, 731. 65
87, 018, 859. 20
86, 430, 020.50
86, S79, 471.50
83, 979, 985. 50
82, 577, 250. 25
82, 485, 444.75
82, 513, 378.25
80, 497, 423. 59
78, 051, 136. 75
Total.
$810,194.00 $1, 896, 304. 00
$979,100
184,341.00 1, 214, 496. 00
991, 955
2, 848, 565
66,330. 00 2, 959, 895. 00
170, 820. 00 3, 363, 840. 00
3, 045,125
79,400. 00 3.123, 720.00
2, 999, 970
3, 088, 200 133, 270. 00 • 3, 390,465. 00
2, 991, 850 128, 740. 00 3,193, 470. 00.
2, 927, 205
73, 070.00 3.124, 345. 00
2, 943, 805
47, 500. 00 3,096, 945. 00
2, 948, 780
15, 000. 00 3,103, 530. OO
1,962,435
38, 684. 84 2, 066, 299. 84
1, 856, 590
38, 265.16 1, 951, 105.16
1,115, 220 29,583, 580
For retirement and
re-is8ue.
1,785,615.00 32,484,415.00 46, 386, 121. 90
2Q
'
REPORT ON THE FINANCES.
With the exception of some temporary annoyances occasioned in
parts of the country by the change in the contract for transportation,
the redemption system has worked smoothly, and apparently to the
satisfaction of the public as well as of the banks. The regulations now
in force, which have been suggested by the experience of the past, are
well understood and generally complied with. Many of the restrictions
formerly enforced with regard to return remittances from the Treasury
have been removed, so that the holder of bank-notes has now the greatest liberty of choice, consistent witlr the interests of the Treasury and
the banks, as to how he shall be paid. The latest modification has
been in the rates for express charges, by which the discrimination formerly made against these notes has been removed, and they have been
placed upon an equality in this regard with the other paper currency
of the country.
The expenses of the redemption agency for the year were $131,190.67.
This sum will be reimbursed to the Treasury and assessed against the
banks as provided by law, at the rate of $1.45-j^(fo per $1,000 of notes
redeemed. The additions to the fund arising under section 8 of the
act of July 12, 1882, amounted to $3,131.09, and the charges against it
to $4,552.59, leaving a balance of $14,506.11.
There are in circulation unsigned or partly signed notes of banks
amounting to $14,600, less some small sums known to have been retired,
which were stolen from the custody of the banks after having been received from the Department, and which have been refused at this office
under a ruling that they were not obligatory promises of the banks to
pay. The question of the proper status of these notes having been
raised by the demand of a holder for the redemption of certain of them
out of money on deposit in the Treasury under the provisions of section
6 of the act of July 12, 1882, and the Treasurer having been called upon
for his views on the subject, which were submitted after mature deliberation, this opportunity is taken to make public some of the main
grounds on which he was forced to the conclusion that such notes ought
to be redeemed.
By the provisions of law referred to, the notes issued to banks extending the period of their corporate existence are required to be redeemed
at the Treasury. At the end of a specified period the banks must deposit lawful money sufficient to redeem the remainder of the circulation<.
which was outstanding at the date of their extension, and the gain that
may arise from the failure to present the notes for redemption inures to
the benefit of the United States. These provisions, considered particularly in connection with the clauses of the statutes relating to the issue
of circulating notes to the banks, and generally as part of the whole
body of law on the subject of the national currency, seem to be consistent with the powers of Congress only upon the assumption that
such notes, from the time they come into the possession of the bank in
the manner prescribed by law, and before they receive the signatures
of the bank's officers, are obligations of the Government delivered to
the bank for the bank's benefit, on security pledged for their return to
the Treasury, and as such are redeemable by the Government, at the
hands of an innocent holder, and if the necessary funds are not furnished by the bank, then the security pledged becomes forfeit.
The inference is necessary, if notes stolen from a bank are held to be
irredeemable, that Congress intended the gain arising from their rejection to go to the Treasury. Now, there can be no pretense that notes
so stolen derive any validity from a fraudulent act. They doubtless have
the same character yet that belonged to them while they were in the
TREASURER.
27
custody of the bank. If they have no value to the hol[ler who received
them as money, they had none to the bank which voluntarily pledged
security for their return to the Treasury. But if they are mere blank
paper, can Congress, in the face of the constitutional jprohibition that
no person shall be deprived of property without due, process of law,
enact a statute requiring the bank to deposit money for them, and appropriating that money to the use of the United Statep"? Can the Department be justified in assuming that Congress meant a statute to
have this effect, unless the language used will bear no' other meaning?
The wording of the section is careful and clear. The notes issued to
the banks .must be redeemed, and the gain from failure to present them
shall inure to the United States. The inference that a gain is to arise
from the theft of unsigned notes, and that this gain also is to be appropriated, is purely gratuitous.
But if, on the other hand, these unsigned notes, as they were delivered
to the bank and stolen by the thief, were to all intents money issued by
the Government, then the language of the law of 1882 can be taken at
its plain import. Congress is not placed in the attillude of trying to
violate the Constitution, but is seen to have acted in the exercise of an
undoubted prerogative. The bank is deprived of no right, having the
ordinary remedies of the laws relating to property and the punishment
of crime. There is no question of imposing on a corporation an unsigned
paper as a promissory note; the question is whether, to save that corporation harmless against loss of money by theft, the pieces of money
so lost shall be deprived of all value, to the injury of the persons into
whose hands they may afterwards come.
I
These notes are a cause of grievance to the public, circulating as they
do without question on the faith of their being genuine impressions of
the plates regularly issued from the Treasury, and lieing discredited
only when presented for redemption. The feeling is prevalent that
they ought to be paid, and unless provision is made for taking them up
they will inevitably become the basis of a claim against the Government. It is hoped that such steps will be taken by thb Department as
may be necessary to settle definitely the question of liability for them.
WORK OF THE OFFICEo
There were turned over to the present Treasurer, on his assuming
the duties of the office. May 11, 1889, $237,208,402.39 in cash assets,
together with $320,699,000 of unissued notes and certificates and
$213,524,927.06§ in bonds and coupons, making an aggregate of
$771,432,329.45§. He was enabled to give to his predecessor a receipt
in full for all moneys and securities called for by the accounts. The
labor of examining such an amount of coin and paper was heavy, and
the greater part had to be done in close vaults, but it was prosecuted
with unusual expedition. A saving of time, expense, and discomfort
was effected by the use of electrical fans for regulating temperature and
ventilation.
The Treasurer feels it his duty to call attention to several matters
which he deems of sufficient importance to command tbe early attention
of Congress. The vaults, excepting the large one for silver, are such
as have been in use for many years, and consequently they can not be
regarded as equally secure with those of more modern design. I t is
recommended that they be strengthened and supplied with the recent
improvements. The old safes should be replaced with new ones. The
cash room when it was fitted up some years ago was doubtless supplied
28
REPORT ON THE FINANCES.
with all the conveniences and appliances for the safe transaction of
business then known, but improvements have since been introduced by
the public generally which would add greatly to the present facilities
and render more secure the property of the Government. In fact the
banking-house of the Government should be made fully equal to the
modern banking-house of the first-class cities. The Treasurer is required
to give a large bond, and is held responsible for the safe-keeping of all
things of value placed in his hands; hence he feels that he should be
supplied with all the safeguards that modern invention has .produced.
It sometimes becomes necessary to the proper conduct of business, or
advantageous to the interests of the Department or of the public, for
the Treasurer to make personal visits to a sub-treasury or to a distant
city. The emergency is frequently so clear that there is no room for
doubt or misunderstanding of duty. As there is no appropriation for
such purposes, the Treasurers have personally borne the expenses of
these journeys. It is respectfully recommended that some provision be
made to relieve them of this tax upon their private purses. There
should also be a fund available for the recovery of moneys lost' or stolen
from the Treasury and for making such immediate investigations as
may be necessary to fix the responsibility or detect the criminal. Such
expenses, likewise, when they have been necessary in the past, have
been defrayed by the Treasurers themselves.
With the increase of its importance, the office is becoming more and
more an object of interest to the public. Several hundred thousand
visitors annually now apply for permission to see the vaults or to acquaint themselves with the methods of conducting public business.
They are not all prompted by idle curiosity, but many of them evince a
commendable desire for information on subjects into which they doubtless have the right to inquire. This constant stream of strangers, even
though it be confined to the corridors and public rooms of the building,
is a menace and at times a perplexity to the officers and employes responsible for the safe-keeping of the public funds. During business
hours, however, the regular force of clerks and watchmen has proved
an adequate guard, and the Treasurer has the satisfaction of relying
upon the honesty and discretion of persons whom he can control and in
whom he has confidence. But at night, when the building is left in the
hands of a limited number of watchmen, the Treasurer is deprived of
his custodianship, although he is not relieved of his responsibility. I t
is recommended that the force of the office be so increased as to allow
, him to employ six watchmen, who should be provided with proper arms^
to act under the direction of the captain of the watch, but subject to
the orders of the Treasurer, as a patrol and guard for the office.
The Treasurer's relations with the other bureaus of the Department ^
require him habitually to intrust important papers and other articles of
value to messengers, who may not be known to him, and whose official
character he has to accept on trust. I t would be wise to require all
persons employed in such a capacity to be provided with an official uniform or other distinctive badge.
The subordinate officers and employes of the bureau are commended
for the faithfulness and ability with which they have discharged their
duties.
I have the honor to be, very respectfully, your obedient servant,
JAMES N . HUSTON,
Treasurer of the United States,
Hon.
WILLIAM WINDOM,
Secretary of the Treasuryo
29
TEEASUEER.
APPENDIX.
•
1
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 1889, AS S H O W N B Y
WARRANTS- ISSUED.
Account.
Receipts.
GustorDS
. ........................
Xntomalrovenuo . . . . . . . . . . . . . . . . . . . .
Lands
Miscellaneous
I n t e r i o r civil
.
.... ...
Treasury p r o p e r . . . . . . . . . . . . . . . . . . . . .
Diplomatic
Judiciary
==
W a r Department ......o..
Navy Department
Interior Department, Indians
Interior Department, pensions
I n t e r e s t on t h e p u b l i c d e b t .
P r e m i u m on t b e p u b l i c d e b t
Total, n e t
$223, 832, 741. 69
130, 881, 513. 92
8, 038, 651. 79
24,297,151.44
387,050,058.84
Rep ayments
fi?OIa u n e x - C o u n t e r credpel ided a p - i t s t o a p p r o priations.
P opriat ions.
Expenditures.
$20,154,142. 08
3, 941,466.30
$4£ 2,269.15
7,303.07
7, 359,790.25
42,847.717.40
1, 897, 625. 72
4,463, 322. 51
44,435,270.85
21, 378, 809. 31
6, 892, 207. 78
87,624. 779.11
41, 001, 484. 29
17, 2!^2, 362. 65
€ a nfi^ p^k
1,142, 500. 56
^8, 436. 03
223, 901. 03
906,951.53
233,162. 24
2l!9, 045. 44
2, 850, 838. 61
428, 682. 26
299,288,978.25
$75,788.32
21.50
12-792.76
140,160. 96
31, 081.27
80, 066,48
244, 304. 35
5, 639, 944.19
21,180. 31
88.67
!
•
"•"!
THE PUBLIC DEBT.
Gold certificates
Silver certificates
Certificates of deposit, a c t of J u n e
8, 1872.
R e f u n d i n g certificates . . . . . . . . . . . . . . .
TTnited S t a t e s n o t e s
lYactional currency
Old d e m a n d n o t e s
One a n d t w o y e a r n o t e s of 1863
C o m p o u n d - i n t e r e s t n o t e s . . -•
7-30's of 1864 a n d 1865
F u n d e d loan of 1 9 0 7 . . . .
Oregon w a r d e b t
L o a n of J u l y a n d A u g u s t , 1861
L o a n of 1863
F u n d e d loan of 1891
10-40's of 1864
Consols of 1865
Consols of 1807
Consols of 1868
F u n d e d loan of 1881
Loan of J u l y 12, 1882
5-20's of 1862
Total
Balance, J u n e 30,1888
Balance, J u n e 30,1889
Aggregate
...l
....
79, 255, 000. 00
73, 752, 000. 00
32, 630, 000. 00
59, 450, 000. 00
24, 350. 00
67,249,598.00
40,614,026.00.
30, 320, 000.00
18, 410.00
59, 450, 000. 00
5, 953. 35
365.00
880. 00
3, 780.00
2, 800. 00
38,106, 400.00
1,150. 00
33, 850. 00
3, 300. 00
82, 568, 050.00
4, 000. 00
7, 600.00
22, 200.00
5, 450. 00
9,450.00^
494, lOU. 00
1, 050. 00
i
.....
6, 5£fi i.p;2 ifi
6,245,428.81
1,263, 508, 863. 87 1, 263, 508r803. 87 6 oQfi i?i^ IS
6,245,428. 81
632,161, 408. 84
631,347,455.03
618,211,390. 60
645,297,473.27
30
REPORT ON THE FINANCES.
No. 2.—COMPARATIVE STATEMENT OF BALANCES I N THE TREASURY AT T H E CLOSE
OF THE F I S C A L YEARS 1888 AND 1889.
Balance as shown by last report, June 30,1888.
Net revenue, 1889
Net expenditures, 1889 '.
$387, 050, 058.84
299,288, 978.25
Excess of revenue over expenditures .
$631,347,455.03
87,761, 080.59
719,108, 535.62
Public debt.
Issues during
fiscal year.
Funded loan of 1891..
Funded loan of 1907..
Silver certificates . . . .
Gold certificates
Certificates of deposit, actof June 8,
1872
United States notes . Matured debt
Kefundin g certifi,cates
Old demand notes
Fractional currency. .
Total
Net excess of redemption over issues . . .
$24, 350.00
73, 752, 000. 00
79. 255,000. 00
32. 630, 000. 00
59, 450, 000. 00
Redemptions
during
fiscal year.
Excess of
issues over
redemptions.
$82, 568, 050. 00
38,106, 400. 00
40, 614, 026. 00 $33,137, 974. 00
67,249,598.00
12,005, 402.00
30, 320, 000. 00
59, 450, 000. 00
589, 610.00
18, 410. 00
365. 00
5, 953. 35
.2, 310, 000. 00
245, 111, 350. 00 318,922, 412. 35
47, 453, 376.00
Excess of
redemptions
over issues.
$82, 568, 050. 00
38, 082, 050.00
589, 610. 00
18, 410.00
365. 00
5. 953. 35
121,204,438.35
73, 811,062. 35
Balance, June 30,1889.
No. 3..—RECONCILIATION
645, 297, 473.27
OF THE SEVERAL ACCOUNTS AND STATEJMENTS OF CASH
IN T H E T R E A S U R Y / J U N E 30, 1889.
Cash in the Treasury, as shown in the monthly debt statement
$643,113,172.01
Add amount on deposit. Treasurer's agency account, as known to the Treasurer J u n e
30, not covered into the Treasury by warrant
117, 063, 611.45
Aggregate assets, including certificates held in the cash, as shown in the published
monthly statement of assets and liabilities
760,176, 783.46
Add receipts prior to July 1 not yet reported to the Treasurer:
National bank depositaries .'.
$1,299, 780. 59
For certiticates of deposit, act of June 8,1872
220, 000. 00
For gold certificates, series of 1888
20, 000. 00
$1,539,780.59
Less excess of disbursements over receipts, agency ac- '
count, prior to July 1, not yet reported
1, 030,121.95
And less unavailable funds treated in the monthly statements of assets and liabilities as cash
42, 570.84
1, 072, 692.79
467,087. 80
Aggregate available assets, as stated in this report Deduct amount on deposit, agency account, asfiiiiajllyascertained
Available funds, general account, as stated in this report
Add unavailable funds
Balance, general account, as shown by the Treasurer's books
Deduct receipts prior to July 1 not yet covered by warrant:
Washington
Baltimore.
ifew York
Philadelphia
Boston
Cincinnati
Chicago
St. Louis
New. Orleans
San Francisco
National bank depositaries.
760, 643, 871.26
116,033,489.50
644, 610, 381.76
1,415,433.91
646,025, 815.67
$111, 372.06
1,004.27
91,499.01
81,766.87
1, 265.47
141, 803.20
37,115. 35
16, 629. 40
13,689. 83
27, 795. 70
204,401.24
Balance of covered moneys, general account
Add amount on deposit with the States, not borne on the Treasurer's books
728,342.40
r
Balance standing charged to the Treasurer on the Eegister of the Treasury's books . .
645, 297,473.27
28,101, 644. 91
673,399,118.18
31
TEEASUEEE.
No. 4 . — R E C E I P T S AND DISBURSEMENTS OF THE SEVERAL K I N D S OP C U R R E N C Y AT
THE TREASURY O F F I C E S , ON ACCOUNT OF R E V E N U E S , REDEMP|TIONS, T R A N S F E R S ,
AND EXCHANGES^ FOR THE F I S C A L YEAR 1889.
National-bank
notes.
Washington ...
Baltimore
New York
Philadelphia...
Boston.....—
Cincinnati.....
Chicago
St. L o u i s
New Orleans...
San F r a n c i s c o . .
Total.
$43, 574, 961
813, 823
2, 817, 638
2, 095, 373
2, 407,264
1, 218,155
2, 825, 325
1,191, 590
1,389, 410
450, 880
United States
notes.
Gold coin.
P.ct
P.ct
$375,
9.0 $140, 040, 475 29.0
12, 993, 914 44:6
2, 069,
2,
61,
395,
365
126,
590,
7.1
0.3
2.8 31, 930, 508 42.3 14, 523,
2, 507,
3.5 28, 026, 658 40.7
9, 587, 392 45.6
1, 080,
5.
7, 717,
4.4 20, 693, 005 32.0
367,
3.4 16, 374, 065 46.4
1, 353,
3
13, 303, 985 37.4
L5
879,421 2.9 24, 339,
Gold certificates.
P.ct
P.ct
0.1 $98, 925, 783 20.5
7.1
1, 372, 770 4.7
14.6 608, 397, 788 70.3
19.1
7,479, 540 9.9
3.6 16,989,140 24.7
5.2
5
732, 820
9, 927,130 15.4
11.9
796, 800 2.3
I.O
1, 689, 650 4.7
3.8
80.5
377, 000 L 2
58, 784, 419 3.4 335, 224, 788 19.6 180, 924, 848 10.6 746, 688, 421 43.7
DISBUESEMENTS.
Washington ...
Baltimore
N e w York
Philadelphia...
Boston
Cincinnati
1
Chicago
St. L o u i s
New Orleans...
San Francisco .
814,475
2, 826, 490
.2, 099, 000
2, 462, 000
1,215,000
2, 828, 000
1,186, 000
1, 389, 340
459, 000
Total ...
Redemptions .
15, 279, 305
46, 386,122
24.4
2.2
19.4
LI
0.7L5
282, 216, 081 20.2 148, 451, 088 10.6 663,425,00(f47.4
t
59, 450, 000
67,249,598....
61, 665,427
341, 666, 081
"2," 881," 008
6, 441, 293
Total
I n c r e a s e of a m o u n t og.. h a n d .
D e c r e a s e of a m o u n t on h a n d .
87, 867,
14,155,
59, 243,
32, 551,
27, 772,
10,162,
19, 769,
15, 938,
13, 418,
1, 336,
S i l v e r certificates.
Washington ...
Baltimore
New York
,
Philadelphia...
Boston
Cincinnati
Chicago
St. L o u i s
New Orleans...
San Francisco .
Total.
54,449
33,498,
39,
909,158 3.3
1,108,
51.5
112,
944,
760
7.1
13.5 591,197,
41.7
8, 251, 532 10,6
8, 676,
41.8
3, 875, 540 5.8 16, 210,
52.
20, 060 0.1
422,
33.9
4, 378, 360 7.5 11, 345,
49.0
41, 000 0.1
348,
40.5
40,341 0.1
243,
373,
5.5 17, 935, 948 74.4
Standard silver
dollars.
148,451, (
32,473, 760
I
Fractional
silver and
mixed.
15.0
4.0
70.7
in
730, 674, 598
16, 013, 823
Total.
P.ct
P.ct
24.2 $81, 253, 63116. 9
1,301,650 4.5
32.8
7,987,454 0.9
5.9
3,728,773 4.9
17.5
3,143,309 4.
2L1
2,482,142 11. 8
22.9
4. 518, 586| 7. 0
26.5
34.6
3, 336, 880 9. 4
35.9
4, 069, 620,11. 4
2,555,018 8.5
LO
P.ct
$1,246, 241 0.3
1, 027, 804 3.5
7, 583, 856 0.9
2, 656, 932 3.5
1, 280, 305 L 8
1, 099, 658 5.2
1, 814, 295 2.8
1, 036, 690 2.9
1, 018, 9' 2.9
1, 327, 6' 4.4
$481, 856, 740
29, 135, 355
865, 945, 075
75, 608, 953
68,859, 227
21, 024, 594
64,618,595
35, 324, 860
35,619,721
30, 233, 276
252,134,429 14.8 114, 377, 063' 6. 7
20, 092,428 L 2
1, 708, 226, 396
$116,440,
9, 556,
51,172,
13,194,
14, 504,
4, 824,
17,122,
12, 221,
12, 794,
303,
DISBURSEMENTS.
Washington ...
Baltimore
New York
Philadelphia...
Boston
Cincinnati
Chicago
St. Louis
N e w Orleans . .
San F r a n c i s c o .
100, 022, 367 44. 7
9, 357, 549 34. 0
6.1
51,054,
16.9
13,184,
21.5
14, 250,
25.9
4. 986,
29.2
17,021,
37.2
12,113,
37.9
12, 537,
227,
LO
938, 908 0.4
990, 779, 3.6
13, 885, 82l| L 7
11, 948, 347|15.
2, 888, 181 4. 4
2, 592, 142 13. 5
4,134,,030
2,974,,012
„.„ . . .
6, 074, 683118. 3
2, 692,
Total ..
Redemptions
234, 756, 338 16.
40, 614. 026
49,119, 049
Total
I n c r e a s e of a m o u n t on h a n d •
D e c r e a s e of a m o u n t on h a n d .
275, 370, 364
•49,119, 049
65, 258, 014
23, 235,935
1, 422,
993,
7, 521,
3, 398,
1, 400,
1, 040,
1, 700,
1,149,
814,
1, .'^31,
20, 972,437
1, 414, 219, 298
213, 699, 746
20, 972,437
1, 627, 919, 044
" " 8 8 0 , " 009
32
R E P O R T ON T H E FINANCES.
No. 5 . — R E C E I P T S AND E X P E N D I T U R E S ON ACCOUNT OF THE P O S T - O F F I C E D E P A R T MENT FOR THE F I S C A L YEAR 1889, AS SHOWN B Y W A R R A N T S .
Receipts covered into the Treasury
Receipts by postmasters
. = „„...'
Total net receipts
,
*
$27,552,081.57
32,012,789.08
•
:
59,564,870.65
Balance due the United States June 30, 1888
Total....
6,094,819.42
...„,
Expenditures by Treasurer on warrants
Expenditures by postma&ters
Total expenditures
Balance due the United States J u n e 30, 1889
Total
,
65,659,690.07
„
„.
„„
29, 098, 959.53
32,012, 789.08
61, 111,748. 61
4J 547^ 941! 46
65,659,690.07
NOTE.—Of the receipts covered into the Treasury the sum of $3,870,639.12 was appropriated by acts
of Congress to make good deficiencies in the postal revenues.
No. 6.—SEMI-ANNUAL D U T Y ASSESSED U P O N AND COLLECTED FROM NATIONAL
BANKS BY 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 THE F I S C A L YEARS F R O M
1864 t o 1889, INCLUSIVE.
Fiscal year.
1864
3865
1866
1867
1868
1869
1870..„
1871...:
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881. ...
1882
1883..
1884
1885
-•
1886
1887
1888
1889
-BALANCES
O n circulation.
O n deposits.
$53,193.32
733, 247. 59
2,106, 785.30
2, 868, 636. 78
2, 946, 343. 07
2, 957,416. 73
2, 949, 744.13
2, 987, 021.69
3,193, 570.03
3, 353,186.13
3, 404, 483.11
3, 283, 450. 89
3, 091, 795.76
2, 900, 957. 53
2, 948,047. 08
3, 009, 647.16
3,153,635. 63
3,121, 374.33
3,190, 981.98
3,132, 006. 73
3, 024, 668.24
2, 794, 584.01
2, 592, 021.33
2,044,922.75
1, 616,127. 53
1,410, 331. 84
Total
No. 7.-
.
68, 868,180.67
$95,911.87
1, 087, 530.86
2, 633,102. 77
2,650,180. 09
2, 564,143. 44
.2, 614, 553.58
2, 614, 767.61
2, 802, 840.85
3,120, 984.37
3,196,569.29
3, 209, 967.72
3, 514, 265.39
3, 505,129. 64
3, 451, 965. 38
3, 273, 111. 74
3, 309, 668. 90
4, 058, 710.61
4, 940, 945.12
5, 521,927.47
2, 773, 790.46
60, 940, 067.16
O n capital.
Total.
$18, 432.07 .
$167, 537.26
133, 251.15
1, 954, 029.60
406, 947.74
5,146, 835.81
321, 881. 36
6, 840, 698. 23
306, 781.67
5, 817, 268.18
312, 918.68
5, 884, 888. 99
375, 962. 26
5, 940,474.00
385, 292.13
6,175,154.67
389, 356.27
6, 703, 910.67
454, 891.51
7, 004, 646.93
469, 048. 02
7, 083, 498. 85
507,417.76
7, 305,134.04
632, 296.16
7, 229, 221.56
660, 784. 90
7, 013, 707. 81
56G, 296.83
6, 781,455.65
401,920.61
6, 721,236.67
379,424.19
7,591,770.43
431, 233.10
8, 493, 552.55
437, 774.90 . 9,150,684.35
269,976.43
6,175, 773.62
3, 024, 668. 24
2, 794, 584.01
, 2.592,02L33
2, 044, 922. 75
1, 616,127.53
1,410,331.84
7,855,887.74
137, 664,135. 57
S T A N D I N G TO THE C R E D I T O F D I S B U R S I N G O F F I C E R S A N D A G E N T S
OF T H E U N I T E D S T A T E S , J U N E 30, 1889.
Office in which deposited.
Treasury United States, Washington
Sub-Treasury United States, Baltimore
Sub-Treasury United States, Boston,
Sub-Treasury United States, Chicago
,
Sub-Treasury United States, Cincinnati
Sub-Treasury United States, New Orleans .,
Sub-Treasury United States, New York
Sub-Treasury United States, Philadelphia..
Sub-Treasury United States, St. Louis
Sub-Treasury United States, San Francisco
National Bank depositaries
Total
Amount.
777,405.91
389,446. 33
741, 548.01
131, 550.37
214,814. 31
656,130.43
699, 307. 93
586,136.55
809, 250. 09
921, 068. 24
3,!994, 941.76
23, 921, 599. 93
NOTE.—Balances to the credit of mijjts and assav offices for the purchase of bullion ^re not included
jri this statement.
.
33
TEEASUEEE.
No. 8.—ASSETS AND L I A B I L I T I E S OF THE TREASURY OF THE U N I T E D STATES, J U N E
30, 1888.
\
Liabilities.
Assets.i:-
Balances.
t
Gold.—Coin . . . .
Bullion .
Certificates
Less amount on hand .
Net gold
Silver.—Standard dollars.
Bullion
Certificates
Less amount on hand .
Net silver
United States notes
Certificates
1
Less amount on hand .
$204, 449, 750. 75
110, 255, 071.71
$314, 704, 822.46
142, 023,150. 00
20, 928, 500. OOl
$121, 094,650. 00
244,181, 394.00|
3, 970, 640. 33
248,152, 034. 33
229,491.772.00
28, 732,115.00
200, 759, 657. 00
47. 392, 377.33
14, 915, 000. 00
250, 000.00
6,487, 029. 02
285,161. 00
58, 712, 511.11
680, 975.89
487, 029.02
285,161. 00
712, 51L 11
'681, 687, 533.8l| 336, 519,307. 00 345,168, 226. 81
Totals .
Fractional currency redeemed
United States bonds and interest..
Interest checks and coupons paid.
' 53, 345, 975. 89
14,665, 000. 00
Net United States notes
Trade-dollar bullion
National-bank notes. -^
.,
Deposits in national-bank depositaries.
Public debt and interest:
Interest due and unpaid
Accrued interest
—
Matured debt
- -.
Interest on matured debt
Debt bearing no interest
—
Interest on Pacific railroad bonds
due and unpaid
Accrued interest,on Pacific railroad
bonds
$193,610,172.46
1,485, 029. 031
8,186,430.931
2,496, 095.26
168,267.86
1,357.92
14, 039.96
1, 938, 705. 36
14, 289, 926.32
. 1, 357.
28,160. OOl
172, 629. 32
202,147. 24
681, 889, 681. 05 350,
Totals.,
Reserve for redemption of U. S. notes,
acts of 1875 and 1882.
,
Fund for redemption of notes of national
banks "failed," "inliquidation," and
" reducing circulation "
Five per ceil b. fund for redemption of
national-bank notes
National-bank notes in process of
redemption
Post-Office Department account.
Disbursing oflicers' balances
Undistributed assets of failed national
banks
Currency and minor coin redemption acconnt
Fractional silver coin redemption account
Redemption and exchange a c c o u n t —
Treasurer's transfer checks and drafts
outstanding
Treasurer U. S., agent for paying interest on D. C. bonds
\ 233.32
100,00io,ooo;oo
91, 952, 843. 65
6, 976,727. 62
6,051,607.25
21, 999, 399.21
98,929, 57L 27,
6,770,380.08
1,777,601.79
600.00
2,740. Oo|
2, 616,183.31
2, 576, 562. 34
251,179. 33|
35,275, 873.23
Interest on D. C. bonds paid.
Totals
Balance. -.
Assets not available:
Minor coin
Fractional silver coin.
688, 661, 937.43| 585, 014, 677. 82
103,647,259.61
112, 920. 73
26, 044, 062. 35
26,156, 983. 08
26,156, 983. 08
714,818,920.51 585, 014, 677.82 129, 804,242.69
Fl89
34
R E P O R T ON T H E FINANCESo
No. 9.—ASSETS AND L I A B I L I T I E S
OF T H E TREASURY
J U N E 30, 1889.
OF T H E U N I T E D
Assets.
Grold.—Coin"
Bullion
Liabilities.
154,048,552.00
36, 918, 323. 00
Net gold
Silver.—Standard dollars
Bullion
°'.'
Certificates
Less amount on hand
.Net silver
United States notes
Certificates
Less amount on hand
$3 J3, 387,719.79
Fractional currency redeemed.....
United States bonds and interest..
Interest checks and coupons paid..
$117,130,229.00
279, 087,750. 00
4, 623, 691. 55
262, 629, 746.00
5, 487,181. 00
$186,257,490.79
283,711,441.55
257,142, 565.00
26,568,876. 55
17,195, OCO. 00
240, 000.00
Net United States notes..
Trade-dollar bullion
National-bank notes
Deposits in national-bank depositaries -.
Totals
Public debt and interest:
Interest due and unpaid
Accrued interest
Matured debt
Interest oh matured debt.
Debt bearing no interest
.
...
Interest on Pacific Eailroad bonds
due and unpaid
Accrued interest on Pacific JRaikoad
bonds
/-
Balances.
'.
$237, 586, 792.40
65, 800, 927.39
Certificates
.. ...
Less amount on hand
STATES,
47,296,875.54
16, 955, 000.00
6, 083, 537.70
191, 319.00
47, 259, 714. 39
—
3®, 341, 875. 54
6, 08?, 537. 70
191 319.00
47 259 714.39
687,930,607.97 391,227, 794. 00 296, 702,813. 97
1,132, 530.94
7, 495, 796.15
1,911,485.26
153, 988. 92
1, 094.76
7, 529. 96
1,938,705.36
12,641,13L35
1, 094. 76
690, 519. 37
49, 690.38
741,304.51
Totals
688, 671, 912. 48 403, 868, 925.35
Reserve for redemption of United States
notes, acts of 1875 and 1882
100,000,000.00
Fund for redemption of notes of national
banks " failed," " in licLuidation," and
' "reducing circulation "
,.*'-. ' 78,051,136.75
Five per cent, fund for redemption of
national-bank notes
5, 630,132. 41
National-bank notes in process of
redemption
*.....
Post-OflBce Department account
Disbursing oificers' balances
Undistributed assets of failed national
banks
Currency and minor coin redemption account
Fractional silver.coin redemption account
'.
Redemption and exchange account
Treasurer's transfer checks and drafte
outstanding
Treasurer U. S., agent for paying interest on D. C. bo^ds
4, 511,197.86
23, 921, 599.93
3,959,218.75
1,143,26L45
83, 681, 269.16
700. 00
7, 960. 00
771, 962. 09
1,910.112.16
85, 426.85
TutftT'pst on D. C, bonds paid, . . . . . .
MinnT O,C\\T\
- - - , ^. - - , , , - - , , ,
72,730,152.08
• " ^
Fractional silver coin
Aggregate
1,435.70
692, 632, 566. 93 619, 902, 414. 85
Totals
Balance
Assets not available:
t
.'
225, 628. 06
25,140,172. 27 25, 365, 800. 33 32,352,220.34
25, 365, 800. 33
717, 998, 367. 26 619,902,414.85
98,095,952,41
35
TEEASUEEE.
No.
10.—ASSETS AND L I A B I L I T I E S O F T H E T R E A S U R Y
S E P T E M B E R 30, 1889.
6F
'
Assets.
Gold.
THE
UNITED
? Liabilities.
STATES,
Balances.
$241, 537,116.35
64, 334, 655.67
Coin
$305, 871, 772. 02
158, 749,152.00
42,073,803.00
L e s s a m o u n t on h a n d ,
^116, 675, 349. 00
N e t gold
$189 196 423 02
282, 983, 550. 00
5, 203, 290.79
Bullion
288,186, 840. 79
I
1
280,497, 767.00
3, 878, 052. 00
Certificates
L e s s a m o u n t on h a n d .
j
1276 619,715.00
N e t silver
..
..... .
U n i t e d S t a t e s notes...'^
:
Certificates
L e s s a m o u n t on h a n d
16, 045, 000. 00
770, 000. 00
11 567,125. 79
36,445,258.22 f
j .
15,275,000.00
N e t United States notes
T r a d e - d o l l a r bullion
:
National-bank notes
D e p o s i t s in n a t i o n a l - b a n k d e p o s i t a r i e s
Totals:,
Public debt and interest:
I n t e r e s t due and unpaid
6, 083, 537. 70
177, 641. 00
47, 746, 882.39
21,170,258.22
6, 083, 537. 70
177, 641. 00
47, 746, 882. 39
.....
\I
684, 511, 932.12 408, 570 064. 00 275,941,868.12
.'
...........
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 R a i l r o a d b o n d s
due and unpaid
A c c r u e d interjBst on Pacific R a i l r o a d
bonds
........
...........
1,428.123. 52
7,143,113. 65
1,897,425. 26
152, 968. -8
1,691.26
i •
13,169.96
1
969, 352.68
\
11, 605,845.11,
Fractional currency redeemed... .
United States bonds and i n t e r e s t . .
I;iterest 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 . 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
banks "failed," " i n liquidation," and
" r e d u c i n g circulation"
.
F i v e p e r cent, fund for r e d e m p t i o n of
national-banknotes
. L 691. 26
894, 552. 50
48, 680. 69
944, 824.45
685,456, 756. 57| 420,175, 909.11
I
, 1
100, 000, 000. 00
1
71,957, 616. 75
1
5, 993, 841. 22
p7,951,457. 97
N a t i o n a l - b a n k n o t e s in p r o c e s s of
redemption ..
.
....
Post-oflice D e p a r t m e n t a c c o u n t
3, 534, 690. 95
D i s b u r s i n g officers' b a l a n c e s
1 35, 695, 728. 61
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
banks
1, 273, 920. 88
Cmreiitsy a n d m i n o r coin r e d e m p t i o n account
320. 00
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
3,160. 00
Redemption and exchange a c c o u n t . . . . . .
441, 536. 20
Treasurer's transfer checks and drafts
outstanding
3,476, 916! 56
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
69, 616.77
3, 706, 080. 45
.
t
1
1
44, 495, 889. 97
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 silver coin
4,'848.'78|
689.167, 685.80 642,623,257.05
.
233, 497.07
2.3, 864, 840. 68
24, 098, 337.75 ••
Aggregate
46, 544, 428. 75
1.
1
1 24, 098,337. 75
713, 266, 023. 55 642, 623, 257. 05
70, 642, 766. 50
36
REPORT ON THE FINANCES.
N o . 1 1 . — U N A V A I L ABLE F U N D S O P T H E G E N E R A L T R E A S U R Y A N D O F T H E P O S T OFFICE DEPARTMENT.
GENERAL TREASURY.
.
On deposit with the following States under the act of
J u n e 23, 1836:
Maine
NewHampshire
Vermont.'
Massachusetts
Connecticut
Rhode Island
New York
Pennsylvania
NewJersey
' Ohio
Indiana
Illinois
Michigan
Delaware
Maryland
Virginia
North Carolina
South Carolina
Georgia
Alabama
Louisiana...
Mississippi
'.
Tennessee
Kentucky
Missouri
Arkansas
:
...„
,
i
,
1
.'
;....
.^
<
'
$95.5,838.25
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
286,751.49
286, 751. 49
955,838.25
2,198,427.99
1,433,757.39
1,051,422.09 •
1,051,422.09
669, u86. 79
477,919.14
382,335.30
1, 433, 757. 39
1,433,757.39
382, 335. 30
286,751.49
Total on deposit with the States
Deficits and defaults:
,
Sub-treasuries:
Default, sub-tTcasury U. S., New Orleans, 1867, May &
Whitaker
!.
675,325.22
Sub-treasury U. S., New Orleans, 1867. May
property
5,566. 31
Deficit sub-treasury U. S., New Orleans, 1885
2U, 959.81
Sub-treasury U. S., San Francisco, 1886
• . 10, 000. 00
—^
Mints and assay-offices: •
Deficits and defaults, branch mint U. S., San Francisco,
1857tol869.
413,557.96
Default, branch mint U. S., Dahlonega, 1861.!!
27, 950. 03
Branch mint U. S., Charlotte,, 1861
32,000.00
U. S. assay-office, Boise City, 1885, N. H. Camp's
account....
11,61L03
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, 1861
Depository U. S., Baltimore, 1866
Depository U. S., Pittsburgh. 1867
Deficit, depository U. S., Santa F6, 1866, short in remittance
•
249.90
'
i
.^$28,101, 644.91
.|
'^ !
$711,85L34
*
485,119.02
•
214,76L38
3,702.17
'
«
1,415,433.91
Total general treasury
29,517,078.82
POST-OFFICE DEPARTMENT.
Default, sub-treasury U. S., New Orleans, 1861.
Depository U. S., Savannah, 1861
Depository U. S., Galveston, 1861
Depository U. S., Little Rock, 1861
<?
.
'
778. 66
547. 50
2,126.11
Total deficits and (Tlefaults
Aggregate,
.
,
.....o
'
31,164. 44
205. 76
83.36
5, 823. 50
37, 277. 06
29,554,355.88
^
37
TEEASUEEE.
No. 12.—ASSETS AND L I A B I L I T I E S OF THE T R E A S U R Y O F F I C E S , J U N E 30,
Washington.
Baltimore.
New^ Y o r k .
Philadelphia.
1889.
Boston.
ASSETS.
Gold coin
$25. 634,288.90 !5,185,467. 50 $118, 742, 787.50 t S , 903, 685. 00
S t a n d a r d s i l v e r d o l l a r s . , . . . 148, 346, 993. 00 3, 918, 528. 00
25, 763, 000.00 6, 566, 775. 00
F r a c t i o n a l silver coin
2,133, 111. 61
529, 931. 85
9, 738, 049.49 1,165, 775. 89
768, 623. 00
Gold certificates —
758, 610. 00
24, 069, 070. 00
513, 570. 00
1, 388, 693. 00
S i l v e r certificates
303, 220.00
1,723,577.00
189,132. 00
14,
693,
970.
00
K United States notes .. .\.....
988, 934. 00
20, 035, 572. 98 3, l62, 269. 00
3, 959, 218. 75
National-bank notes.
2,'433. 00
j 4,907.00
14 947.00
373. 92
Fractional currency.....^...
{ 262.03
350. 00
M i n o r coin
11, 994. 51
11, 027, 63
7,03L75
61, 653. 25
L e g a l - t e n d e r certificates —
10, 000. 00
90,000.00
191, 840. 62
^U. S. b o n d s a n d i n t e r e s t
I n t e r e s t - o n U . S. b o n d s p a i d .
23, 245.16
I 1,833.14
I n t e r e s t on D . C. b o n d s p a i d .
1, 435. 70
T o t a l cash a s s e t s
196, 937, 266. 69 11, 708,443. 47
T r e a s u r e r ' s t r a n s f e r a c c o u n t 49, 269,139. 02
Aggregate .
LIABILITIES.
246, 206,405. 71 11, 708,443. 47
$7, 946, 764. 50
2, 346,183. 00 '
717, 709.60
4, 369, 040. 00
317, 602. 00
i, 505, 787. 00
19, 962. 00
11, 598. 54
50, 000. 006, 319.28
200, 365, 528. 70 20, 605, 240. 81
17, 290, 965. 92
200, 365, ,528. 70 20, 605,240.81
17, 290, 965. 92
.
D i s b u r s i n g officers' b a l a n c e s
Undistributed
a s s e t s of
failed national b a n k s
Redemption and exchange
accounts
P . 0. Department account.
I n t e r e s t a c c o u n t D . C. b o n d s
Treasurer's checks
and
drafts outstanding
,
National bank redemption
fund s
1, 777, 405. 91
.155, 994. 59
233, 876. 91
426. 85
85,
703. 79
107,
269.16
83, 681,
Total
Treasurer's
agency account
87,184, 9^S. 66
B a l a n c e to credit of niints
a n d assay offices
B a l a n c e T r e a s u r e r ' s transfer a c c o u n t
B a l a n c e T r e a s u r e r ' s general account
159, 021,467. 05
Aggregate
389,446.33
12, 699, 307. 93
586,136. 55
741, 548.01
5, 860. 00
172, 660.91
240,193. 00
906, 378.31
45, 095.00
597, 532. 07
73,160. 00
582, 494 50
54, 950.85
899,207.39
61,^656. 47
90, .512. 28
622, 918. 09
14, 745, 086.63
1. 290,420. 09,
1,487, 714.79
1,143, 26L45
32,061,918.45
3, 363, 692.49
6, 377, 265. 6'0 4, 745,999. 89
3, 019^, 308. 22
7, 721, 832. 89
147,181, 258. 02 14, 568, 820. 83
12, 783, 942.91
246, 206,405. 71 11, 708, 443.47
200, 365,528. 70 20, 605, 240. 81
17, 290, 965.92
Cincinnati.
Chicago.
St; Louis.
N e w Orleans,
San F r a n cisco.
ASSETS.
$8,910, 000. 00 $5, 582, 900. 00
Gold coin
623, 500. 00 2, 205, 364. 00
S t a n d a r d s i l v e r dollars
386, 000. 00 1,379, .^96.00
F r a c t i o n a l s i l v e r coin
891,100.00 2, 296, 760. 00
Gold certificates
245, 911. 00
.377,7.33.00
S i l v e r certificates
% 013, 935. 4t 1, 907, 399. 00
United States notes
6,140.00
13,185. 00
National-bank notes
Fractional currency
6, 024.11
34, 800. 91
M i n o r coin
:
. 90, 000. 00
L e g a l - t e n d e r certificates . . .
3, 422. 51
I n t e r e s t o n U . S. b o n d s paid.
3, 775. 78
$6, 500, 800.00 56,780,182.00 $37, 773, 724. 00
11. 674, 656. 00 5, 708,468. 00 18,265,282.00
1, 404, 809. 41
589, 624. 30
6,732,721.25
943, 900. 00 2, 300, 750. 00
4, 900. 00
284,510.00
442, 967. 00
82, 835.00
1,158, 628. 00
329, 778.84
75, 921. 00
6, 510. 00
975.00
1, 255. 00
.35
.46
7, 364. 22
347. 39
8,102. 90
Total cash assets
Unavailable
13,176, 033. 03 13,801,513.69
21,982,765.39 16,153, 092. 99
701, 851.84
62,944,741. 15
10, 000.00
Aggregate .
13,176, 033. 03 13, 801, 513. e
21,982,765,39 16, 854, 944. 33
62, 954, 741.15
1,587.41
LIABILITIES.
DisbursiniJ; officers' b a l a n c e s
Redemption and exchange
accounts
P . O. D e p a r t m e n t a c c o u n t . .
T r e a s u r e r ' s c h e c k s . aud
drafts outstanding
Total
Treasurer's
agency account —
B a l a n c e t o c r e d i t of m i n t s
a n d assay offices
Balance Treasurer's transfer a c c o u n t
B a l a n c e T r e a s u r e r ' s general account
Aggregate . . .
214, 814. 31
1,131, 550.37
809, 250.09
656,130.43
921, 068. 24
]3,93L00
343, 756.42
22,210.00
737, 878. 54
42, 875. 00
415, 261. 27
92, 821. 89
422, 775.08
46, 547. 64
198, 927. 41
85, 638. 08
i71, 047. 04
181, 347. 77
619,049.37
10, 566. 32
1, 353, 024.44
8!19, 999.
1,525,19L09
8,427,164.62'
8, 896, 306.
7,992,378.19
12,188, L44.29
7,1;38, 638.
14, 432. 04
4,326, 474. 75
2,120,548.97
8, 230, 508. 91
9, 590, 398. 40
13,176,033.03 13, 801, 51.3..69
122, 238.31
21, 982, 765. 39 16,854, 944.
53, 314, 933. 56 '
62,954,74L15
38
No.
R E P O R T ON T H E
13.—COMPOSITION AND
FINANCES.
D I S T R I B U T I O N OF T H E BULLION
J U N E 30,
18B9.
Dahlonega.
G o l d coin •-..
Gold b u l l i o n
Standard silver dollars
F r a c t i o n a l s i l v e r coin
Silver bullion
.
'..
•
Trade-dollar bars
United States notes
.
. . .
M i n o r coin
B a l a n c e s in s u b - t r e a s u r i e s a n d n a t i o n a b b a n k
depositaries
Total available
Unavailable
. .
...
Aggregate
$20.00
47, 701 63
Total available
Unavailable
..
. .
Aggregate
OFFICES,
C a r s o n City. N e w O r l e a n s .
$89, 725 00
1, 998, 587 07
2, 76i 00
786. 99
77,441.71
$188,060.00
610. 407. 27
5, 092, 222. 00
.41
479, 853.46
33, 681. 92
112,005.23
140, 868. 63
81, 403. 84
2, 282, 000. 00
6, 511,411. 77
81, 403.84
2,282,000.00
6, 511,411. 77
$27, 950. 03
Philadelphia.
Silver b ulli on . . .*
'
Trade-dollar bars
United States notes
M i n o r coin
B a l a n c e s in sub-treasi^ries a n d n a t i o n a l - b a n k
depositaries
BY
.29
27,950 03
Gold coin
Gold bullion
S t a n d a r d silver dollars
Denver.
FUND,
San F r a n cisco.
$1,239,663 00 $4,104; 610. 00
982, 897. 53
24, 643, 615. 54
23,445, 618.00 25,128,000.00
355, 711. 00
6, 338. 87
28,148.79
3, 598, 834. 86
2, 588, 004. 70
Bois6 C i t y .
$37, 341. 37
Charlotte.
$9, 578. 95
23, 856 76
18,896.63
56, 002, q52.41 30, 599, 367. 32
413, 557. 96
61,198.13
11,611.03
28,475. 58
32, 000. 00
56, 002,052.41 31, 012,925. 28
72, 809 16
60,475.58
479,977.44
Helena.
New York.
St. L o u i s .
Total.
$5,626,193.00
65, 800, 927. 39
53,668,619.00
362, 842. 07
2.75
270. 48
4, 623,147. 35
6, 083, 537. 70
2.00.
2.00
.74
L31
Gold coin
Gold bullion
S t a n d a r d silver dollars
^Fractional silver coin .
.. . . . .
. . .
S i l v e r bullion
Trade-dollar bars
•
United States notes
M i n o r coin
B a l a n c e s in s u b - t r e a s u r i e s a n d n a t i o n a l - b a n k
depositaries
1
$4,115. 00
$62, 892.65 37, 392,141. Oil s . 00
2.05
438, 598. 05
3,495, 533.00
Total available . . . . . . . . .
Unavailable
122, 619.81 72, 700, 544.08
30,472. 38 168, 419, 545.32
485,119.02
122, 619. 81 72, 700, 544.08
30, 472. 38 168, 904, 664. 34
Aggregate
..
.
...............
. . . . . .
.28
59, 727.16 31, 370,139. 69
$15, 764.37
14,432.04
32,254, 275. 50
39
TREASURER.
No. 14.
-CHARA.CTER AND DISTRIBUTION OP THE ASSETS AND LIABILITIES OP THB
TREASURY, JUNE 30, 1889.
h
T r e a s u r y a n d M i n t s a n d assay-offices,
sub-treas-.
bullion fund.
uries.
Mints,
other
than
bullion
fund.
i
National
In transit
bank and
.
o t h e r depos- b e t w e e n offic^'es.
itaries.
Total.
.1 •
i
ASSETS.
. . . . . . . . . * $231,960,599.40 $.5,626,193.00
65,800,927.39
225.418,749.00 53,668,619.00
362,842.07
24,777,329.40
4,623,147.35
G-old cftrtificatea
36 916,323.00
5,356.180.00
Silver c e r t i t i c a t e s
2'.6b
45,872; 19.5.23 """
4,029,532.75
986.76
1.31
159,945.21
L e g a l - t e n d e r c e r t i fi240,000.00
United States b o n d s
and interest
191 840 62
I n t e r e s t on U n i t e d
States bonds paid
40,474.77
I n t e r e s t on D i s t r i c t of
Columbia bonds p a i d . .
1,435.70
Trade-dollar bars
6,083,537.70
D e p o s i t s in nationalbank depositaries
J
$237v586,792.40
65,800,927.39
1
279,087,750.00
$382.00
Gold coin
..
Gold bullion
Total
1 .80
$544.20
2I0OO.OO
• 1311001.00
1,380 678.31
1211005.00
108.00
44,'000'00
65,681.54
25,140,172.27
4,623,69L55
36,918,323.00
5,487,181.00
47,296,875.54
4,150,537.75
1,094.76
225,628.06
240,000.00
.
498 678.75
690,519.37
9 215.61
49,690.38
u
1
1""**'
1
1,435.70
6,083,537.70
47,259,714.39
!$47,259,714.39
available
Unavailable
B a l a n c e s to c r e d i t of
mints a n d a s s a y
offices
T r e a s u r e r ' s t r a n s f e r ac-
574 965.591.84 136,165.269.82 110,225.74 47,259.714.39 2,143 069.47 760,643,871.26
1,415,433.91
218,463.55
485,119.02
711,851.34
.
32,254.275.50
32,254,275.50
49,269,139.02
49,269,139.02
Aggregate
624,946,582.20 168,904,664.34 110,225.74 47,478,177.94 2,143i069.47 843,582,719.69
LIABILITIES.
D i s b u r s i n g officers' balances
19,920,658.17
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 b a n k s . - 1,143,261.45
Redemption, exchange,
and transit accounts..
599,318.59
Post-Office D e p a r t m e n t
account
4,505,435.90
I n t e r e s t accQunt, Dist r i c t of C o l u m b i a
bonds
85,426.85
F u n d s 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 . 83,881,269.16
Treasurer's checks and
drafts outstanding
1,797,538.72
23,921,599.93
3,994,941.76
1,143.261.45
•
5,761.96
181 ,303.50
780,622.09
4,511,197.86
85,426.85
83.681,269.16
112,573.44
1,910,112.16
*
Total Treasurer's
a g e n c y a c c o u n t . 111,738,908.84
4,113,277.16
181,303.50 116,033,489.50
B a l a n c e to c r e d i t of
J
mints a n d
assay
offices
32,198,588.80
• 55,686.70
32,254,275.50
B a l a n c e Treasurer's
t r a n s f e r accou n t
49,269,139.02
49,269,139.02
B a l a n c e Treasurer's
general account
431,739,945.54 .168,904,664.34 110,225.74 43,309,214.08 1,961 ,765.97 64*5,025,815.67
Aggregate
624,946,582.20168,904,664.34 110,225.74 47,478,177.94 2,143 ,069.47 843,582,719.69
40
REPORT
ON T H E
FINANCES.
No. 15.—STATEMENT, BY LOANS, OF U N I T E D STATES BONDS H E L D I N TRUST FOR
NATIONAL BANKS, J[UNE 30, 1889, AND OF CHANGES DURING T H E F I S C A L Y E A R
1889 I N T H E CHARACTER OF T H E B O N D S H E L D .
Bonds
L o a n of
issued to
Funded
Funded
loan of 1891 loan of 1907 J u l y 12,
Pacific
1882
r a i l r o a d s (4^ p e r c t . ) . (4 p e r c t . ) .
(3perct.).
(Operct.)..
B o n d s held in t r u s t J u n e 30, 1888—
For circulation
F o r p u b l i c monej'^s
$3,181,000 $69, 670,300 $105, 42.3, 850
901, 000 15, 663, 500
39,428,500
Total
4, 082, 000
85, 333, 800
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—
Deposited
1, 778, 000
TV^ithdrawn. . . . . . . . . . . .
635, 000
F o r public m o n e y s Deposited
„ 885,000
Withdrawn
383. 000
1, 273, 300
28, 633, 550
B o n d s h e l d in t r u s t J u n e 30,1889—
F o r ci r c u l a t i o n
F o r public moneys
Total
144, 852, 350
12. 311,400
16,347,700. .
3, 300, 000
8,114, 000
5, 596, 000
12,055,000
Total.
$37,500 $178, 312, 650
135, 000
56,128, 000
172, 500
234, 440, 650
37,500
15,462,700
45, 653, 900
135, 000
9,781,000
20, 637, 000
,
4,324,000
' 1,403, 000
42,409, 900
10, 849, 500
101, 387, .550
32, 969, 500
148 121 450
45, 222, 000
:
5, 727, 000
53, 259, 400
134, 357, 050
193, 343, 450
No. 16.—DATES W H E N EACH ISSUE OF
UNITED
STATES C U R R E N C Y
BEGAN
AND
CEASKD.
Issue.
Old d e m a n d n o t e s
IJnited 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
•...
O n e a n d t w o y e a r n o t e s of 1863 :
One-year notes
Two-year notes
Two-year coupon notes
Compound interest notes . . :
Fractional currency:
F i r s t issue
--•---,
•
Second i s s u e
Third issue
F o u r t h issue
Fifth issue
_
Gold certificates:
• g
A c t o f M a r c h 3, 1863
A c t of J u l y 12, 1882, s e r i e s of 1882
Series of 1888
Silver certificates:
Series of 1878
*....
Series of 1880
S e r i e s of 1886
Ceased.
A u g . 26,1861 M a r .
Apr.
Oct.
July
July
Mar.
Mar.
5,1862
2,1862 A u g . 16,1870
19,1869 J u n e 30,1877
25,1874 N o v . 13, 1877
20,1875 J u n e 20,1879
4,1878 M a y 12,1884
16,1880
F e b . 4,1864
M a r . 16,1804
J a n . 12,1864
J u n e 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.
Sept.'21,1866
F e b . 23,1867
A p r . 16,1869
Ff3b. 16,1875
F e b . 15,1876
21,1862
10,1863
5,1864
14,1.S69
26,1874
Nov. 15,1865 D e c .
Oct. 2,1882
Nov. 27,1888
A p r . 11,1878
M a y 26,1880
Sept. 7,1886
3,1878
M a y 22,1883
41
TEEASUEER.
No. 17.--UNITED STATES C U R R E N C Y O F EACH ISSUE AND D E N P M I N A T I O N I S S U E D ,
E E D E E M E D , AND OUTSTANDING AT T H E CLOSE O F T H E FISCAL YEAR 1889.
OLD DEMAND NOTES.
-
i
Redeemed.
Denomination.
'
Outstanding.
'
Issued.
D u r i n g fiscal
year.
T o J u n e 30,
1889.
Per
cent.
Amount.
t
1
Fivedollars
T e n dollars
T w e n t y dollars
Total
*
$21, 800, 000. 00
20, 030, 000.00
18, 200, 000. 00
$155. 00
110. 00
100. 00
$21,777,412.50[
20, 009, 265.00[
18; 186, 880. OOj
$22, 587. 50
20,735.00
13,120.00
0.10
0.10
0.07
60,030,000.00
365. 00
59, 973, 557. 50j
56, 442. 50
0.09
1
UNITED STATES NOTES.
e
I s s u e and denomination.
1
Outstanding.
Redeemed.
Issued.
D u r i n g fiscal
year.
Neiv issue.
One dollar
.
..
T w o dollars
Fivedollars
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
Unknown
$28,351, 348. 00
34, 071,128. 00
101, 000, 000. 00
118, 010. 000. 00
102, 920. 000. 00
30, 055, 200. 00
40, 000, 000. 00
58, 986, 000. 00
155,928,^00.00
$2,780.20
4, 026. 40
44, 319. 00
89, 066. 00
100. 734. 00
14,69.5.00
20,500.00
6, 500. 00
5,000.00
T o J u n e 30,
1889.
Per
cent.
Amount.
j
$777,'211.80
591, 390. 60
498, 631. '00
3, 437, 825. 00
L 961, 280. 00
267, 430.00
382,100.00
225, 500.00
201, 000. 00
•$27,574,136.20
33, 479, 737.40
100, .501, 369. 00
114, 572,175. 00
100, 958, 720. 00
29, 787,770. 00
39, 617, 900. 00
58, 760, 500.00
155, 727, 000.00
135, 000.00
2 74
1 73
0.49
2.81
1.90
0 88
0 95
0. 38
0 13
8, 342, 368.40
D e d u c t f o r u n k n o w n denomin a t i o n s d e s t r o y e d i n Chicago fire
Total
^
135, 000. 00
'.. 669, 321, 676. 00
287, 620.60
661,114, 307. 60
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
12, 674.30
16, 759. 20
165,446. 50
911,401.00
1,126, 446. 00
164, 350. 00
398, 970. 00
8,000.00
174, 000.00
42, 066, 639. 80
50,142, 885.20
49, 695, 004. 00
82,125,441.00
69,329,316.00
29, 291, 375. 00
35,196, 970. 00
44, 640, 500. 00
78, 548, 00(?. 00
865, 000. 00
Issue of 1869.
One doll a r .
.........
T w o dolla.rs
F i v e dollars
Ten 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 dollais
One t h o u s a n d dollars
Unknown
,
I s s u e of 1874.
O n e dollar
T w o dollars
F i f t y dollars
F i v e h u n d r e d dollars
Total
I s s u e of 1875. '
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
-.
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
1
1 23
390,172. 20
369, 034. 80
886, 756. 00
3, 095, 799. 00 '
3, 833. 084. 00
908, 625. 00
1, 907, 030. 00
' 249,500.00
1,152,000.00
0 92
0 73
1 75
3 63
5 24
3 00
5 11
0.56
1 45
.
12, 792, 001.00
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 i n Chicago fire
Total
1
1
1
8,207,368.40
865,000.00
493, 828,132. 00
2,978,047.00
18, 988, 000.00
16, 520, 000.00
24,460. 000. 00
28, 000,000.00
7,133.10
7, 626. 80
695, 790.00
. 176,500.00
87,968,000.00
481.901,131.00
11, 927, 001.00.,
2 40
18, 85.5, 567.10
16, 420,445.80
22,175, 040. 00
27, 676, 500.00
132,432.90
99, 554.20
1 2,284,960.00
1
323, 500. 00
6 70
887, 049. 90
85,127, 552. 90
2, 840. 447.10
3 23
26, 212, 000.00
23, 036, 000.00
46,180,000.00
23, 660,000.00
25, 000, 000.00
2, 000, 000.00
16.200,000.00
28.400, 000.00
20, 203. 70
29, 679.00
288, 772.00
471, 269. 00
822, 674. 00
86,105. 00
615, 740. 00
224, 500. 00
25, 976, 268.70
22, 827,129. 00
45, 059, 417. 00
22, 386, 439. 00
22, 677, 394. 00
1, 785,105. 00
13, 861,140. 00
27,195, 500. 00
235, 731.30
208,87L 00
1,120, 583. 00
L 273. 561.00
2, 322, 606. 00
1 214, 895. 00
1 2.338,860.00
l5f204, 500. 00
0 90
0 90
2 43
5 38
9 29
10 74
14.44
4 24
190, 688, 000. 00
2, 558, 942. 70
181,768,392.70
8, 919, 607.30
4 68
0 60
9 34
1 16
42
REPORT ON T H E FINANCES.
No. 17.—UNITED STATES C U R R E N C Y O F EACH ISSUE AND DENOMINATION
ISSUED,
R E D E E M E D , AND OUTSTANDING, ETC.—Coutinued.
UNITED STATES NOTES—Continued.
Redeemed.
Issue and denomination.
D u r i n g fiscal
year.
I s s u e of 1878.
One dollar
Two dollars
Fivedollars....
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 dollai's
One t h o u s a n d d o l l a r s .
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
Outstanding.
Issued.
... .
Total
I s s u e of 1880.
One dollar
T w o dollars
F i v e dollars
'.
T e n dollars
J
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 doilai-s
One'^ t h o u s a n d dollars
Total
. T o J u n e 30,
1889.
Amount.
Per
cent.
$12, 512, 000. 00
$20, 506.90
• 9, 352, 000. 00
17,189. 80
30,160, 000. 00
283,184.00
26, 000, 000. 00 • 697, 791. 00
34, 800, 000. 00
1, 606, 316. 00
10. 500, 000. 00
676, 420. 00
20, 200, 000. 00
1,127, 680. 00
12, 000, 000.00
594, 000.00
24, 000, 000.00
539, 000. 00
20. 000, 000.00
40, 000, 000. 00
$12, 350, 402. 90
9, :^36, 713. 80
29, 099,144. 00
24,138,181. 00
30, 851, 396.00
8, 754,020. 00
16, 308, 780. 00
9, 930, 500.00
20, 847, 000.00
19, 965, 000. 00
39,990,000.00
$161, 597.10
• 115, 286. 20
1, 060, 856. 00
1, 861, 819. 00
3, 948, 604. 00
1, 745, 980.00
3, 891, 220.00
2, 069, 500.00
3,153, 000. 00
35, 000. 00
10, 000.00
L29
1.23
3.51
7.16
11.34
16.63
19.26
17 24
13.17
0.17
0 02
239, 524,000.00
5,562,087.70
221,471,137.70
18, 052, 862. 30
7.54
55,168, 000. 00 1, 402, 406.40
48, 000, 000. 00
1, 550, 361.20
147, 340, 000. 00 21, 938,190. 50
115, 200, 000. 00 11, 230, 621. 00
97, 360, 000. 00 .6, 624, 508. 00
24, 400. 000.00
1, 990, 775. 00
33, 200, 000. 00
1, 732, 390.00
12, 000, 000.00
309, 000. 00
40, 000. 000. 00
398, 000.00
53,150,617.40
46, 032, 843. 20
92,57L865.50
38, 284, 751.00
16, 012, 328. 00
5, 579,475.00
6. 910, 390. 00
1, 573, 000. 00
15, 819, 000. 00
2, 017,382.60
1, 967,156. 80
^54,768,134.50
76, 915, 249.00
81, 347, 672. 00
18, 820, 525. 00
26, 289. 610. 00
10, 427, 000. 00
24,181,000.00
3.65
4.10
37.15
66.77
83.55
77.13
79.19
86.89
60 45
•275, 934, 270.10
296, 733, 729. 90
51,82
572, 668, 000.00
47,176, 252.10
ONE AND TWO T E A R N 0 T E 3 OF 1863.
• <
Redeemed.
Issue and denomination.
Issued.
D u r i n g fiscal
year.
One-year notes.
T e n dollars
T w e n t y dollars
F i f t y dollars
One h u n d r e d d o l l a r s
Unknown
Outstanding.
°
$6, 200, 000. 00
16,-440, 000. 00
8, 240, 000. 00
13, 640, 000. 00
$80. 00
160. 00
50.00
300.00
T o J n n e 30,
1889.
$6,193,165.00
16, 425, 440.00
8, 233, 400. 00
13, 633, 400.00 .
90.00
Amount.
$6,835.00
14, 560. 00
6, 600. 00
6. 600. 00
Per
cent.
0 11
0.08
0.08
0.05
34, 595. 05
D e d u c t for u n k n o w n denominations destroyed
Total
1
Two-year notes.
F i f t v dollars
One h u n d r e d d o l l a r s
Total
Two y e a r coupon notes.
F i f t y dollars
On e b u n d 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
Unknown
90. 00
44, 520, 000. 00
590.00
44, 485,495. 00
34, 505. 00
0.08
6, 800, 000. 00
9, 680, 000. 00
50.00
100.00
6, 793, 800. 00
9, 677,700. 00
6, 200. 00
2, 300. 00
0;09
0.02
16,480~, 006.00
1-50. 00
16,471,500.00
8, 500.00
0.05
1,900.00
8, 200.00
1, 500. 00
19, 000. 00
0.03
0.06
5, 905,
14, 484,
40, 302,
89, 308,
5, 903,700. 00
14, 476, 200.00
40, 300, 500. 00
89, 289, 000. 00
10, 500. 00^
600. 00
400. 00
000. 00
000.00
0.02
. 30,600.00
D e d u c t for u n k n o w n denominations destroyed
Total
,....„
10, 500. 00
150,000, 000.00
'
149,979,900. 00
20,100.00
0.01
43
TREASURER.
No. 17.—UNITED STATES C U R R E N C Y O F E A C H I S S U E AND DENOMINATION I S S U E D ,
R E D E E M E D , AND OUTSTANDING, ETC.—Continued.
COMPOUND-INTEREST
'
NOTES.
Redeemed.
Outstanding.
•
Denomination.
Issued.
D u r i n g fiscal
year.
Ten d o l l a r s . . .^
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 doDars
_
....
T o t a l '.
Amount.
Per
cent.
1,000.00
$23, 260, 990. 00
30,087, 370. 00
60, 754, 650. 00
45, 058, 000. 00
67,833, 500. 00
39,414,000.00
$24, 210. 00
38, 470. 00
69, 350. 00
35, 500. 00
12, 500. 00
6, 000. 00
0.10
0.13
0.11
0.08
0.02
0.01
3, 830. 00
266, 409, 410. 00
186 030.00
0.07
$23, 285,200.00
30,125.-840.00
60, 824, 000. 00
45. 094,400. 00
67. 846. 000. 00
39,420,000.00
$690. 00
1,140.00
900. 00
100. 00
266, 595,440.00
FRACTIONAL
T o J u n e 30,
1889.
CURRENCY.
Redeemed.
[ Outstanding.
Issued.
Issue and denomination.
D u r i n g fiscal
year.
T o J u n e 30,
1889.
Amount.
Per
cent.
Firstissue. ®
Five cents
T e n cen ts
Twenty-five c e n t s .
Fifty cents
$2, 242, 889. 00
4,115, 378. 00
5, 225, 696. 00
8, 631, 672.00
$10.28
21.24
43. 90
79.00
$1, 214,699. 50
2, 871, 637.57
4,186, 880.15
7, 661, 812.25
$li 028,189.50
li 243, 740.43
11 038, 815. 85
; 969, 859. 75
45.39
30. 02
19.87
1L23
Total.
20,215, 635. 00
154.42
15, 935, 029. 47
4l 280, 605. 53
21.17
2, 794, 826.10
6,176,084.30
7, 648, 341.25
6, 545, 232. 00
18.36
29.51
39.20
52.80
2, 096, 337.38
5, 264,114.91
6, 903,184. 53
5,795,160.85
698. 488. 72
911, 969. 39
745,156.72
750, 07L 15
24.99
14.77
9.74
11.46
23,164,483.65
139.87
•20,058,797.67
Three c e n t s . . . . . . .
Five cents
Ten cents
Fifteen cents
Twenty-five c e n t s .
Fiftv cents
601, 923. 90
657, 002.75
16, 976,134. 50
r, 352. 40
31,143,188.75
36, 735, 426. 50
6.04
7.08
87.08
Total.
Second issue.
Fiv6 cents
Ten cents
Twenty-five cents.
Fifty cents
Total.
3! 105, 685. 98 13.40
T h i r d issue.
160. 03
263. 35
511, 664. .55
524,632.31
15, 925,475. 60
75. 67
30, 242, 578. 77
35, 930, 939. 35
I 90,259.35 15.00
I i32,370>44 20.15
1= 050, 658. 90 6.19
1 1, 276. 73 94.38
( 900, 609.98
2.89
j 804, 487.15
2.19
86,115,028. 80
523.58
83,135, 366. 25
2, 979, 662. 55
3.46
34,940, 960. 00
5, 304, 216. 00
58, 922, 256. 00
77,399, 600.00
263.23
85.29
456. 06
1,082.60
33,567,036. 03
5, 064,789.10
57,898, 006. 43
76, 330, 847.85
32,000. 00
11,373,923.97
239,426. 90
1, 024, 249. 57
Is 068; 752.15
3.93
4.51
L74
L38
F o u r t h issue.
Ten cents
—
Fifteen cents
Twenty-five cents.
Fifty cents
Unknown
3,706, 352.59
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 ed i n C h i c a g o
fire
32, 000.00
176, 567,032. 00
1,887.18
172, 892, 679.41
3, 674,352.59
2.08
Ten c e n t s
Twenty-five cents
Fifty cents
19, 989, 900.00
36, 092, 000.00
6, 580, 000.00
670. 02
1, 601.08
977.20
19, 503, 987. 82
35,511,241.83
6, 394, 348. 20
485,912.18
i 580, 758.17
185,65L80
2.43
L60
2.82
Total.
62,661,900.00
3, 248. 30
61, 409, 577.85
1, 252, 322.15
2.00
Total...
Fifth issue.
44
REPORT ON T H E FINANCES.
No. 17!—UNITED
STATES C U R R E N C Y O F EACH ISSUE AND DENOMINATION
R E D E E M E D , AI^JD OUTSTANDING, ETC.—Continued.
ISSUED,
RECAPITULATION.
Redeemed.
Class.
Outstanding.' .
Issued.
*
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 .Slates n o t e s
One a n d t w o y e a r n o t e s
Compound-interest notes
Fractional currency
T o J n n e 30,
.1889.
Per
cent.
Amount.
$365.00
$59, 973, 557. 50
$60, 030, 000. 00
$56, 442. 50
2,253, 997, 808. 00 59, 450, 000. 00 1, 907, 316, 792. 00 346, 681, 016. 00
740. 00
210,936,895.00
211, 000, 000. 00
6.3, 105.00
3, 830. 00
266,409,410.00
266, .595, 440. 00
186, 030. 00
353,431,450.65
368, 724, 079. 45
5, 953. 35
15,292, 628. 80
Total
. 3,160, 347, 327.45 59,460, 888. 35 2, 798, 068,105.15
0 09
15.38
0.03
0.07
4.15
362, 279, 222. 30
11 46
No. 18.—REDEMPTIONS O F U N I T E D STATES C U R R E N C Y FOR T H E F I S C A L YEAR 1889,
TOTAL R E D E M P T I O N S TO J U N E 30, 1889, AND DEDUCTIONS ON ACCOUNT O F M U T I LATION.
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, net value.
Class.
I n fiscal y e a r .
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
S i l v e r certificates
Gold certificates
Total
$365. 0059, 450, 000. 00
740. 00
3, 830. 00
5, 953. 35
40, 614, U26. 00
62, 340, 898. 00
162, 415, 812. 35
T o J u n e 30,1889.
I n fi.<^cal
year.
T o J n n e 30,
1889. o
T o t a l face
v a l u e of n o t e s
redeemed.
$59, 971, 426. 25
$2,131.2.5
1, 907,122, 201. 50 '$4,143. 00 i 198, 733. 50
210,936,503.00
392. 00
266, 408, 930. 00
480. 00
353, 289, 573. 26
' 36.96 141, 914. 35
. 187,017,632.00
2,107.00
4, 729. 00
200, 031,175. 00
562.00
715. 00
$59, 973, 557. .50
1,907,320,935.00
210,936,895.(^0
260,409, 410. 00
3.53,431,487.61
187, 022, 361. 00
200, 031, 890. 00
3,184, 777, 441. 01
3,185,126, 536.11
6, 848. 96
349, 095.10
No. 19.- -IssuES AND REDEMPTIONS OP U N I T E D STATES N O T E S B Y DENOMINATIONS
AND BY F I S C A L Y E A R S .
Denomination.
Issued,
Redeemed.
-
I n c r e a s e in
circulation.
D e c r e a s e in
circulation.
1862.
T w o dollar.s
l^^jve d o l l a r s
.....'
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 liundred dollars
...............
One t l i o u s a n d dollars
-.-..
Total
$17,^140, OOO
15, 440, 000
15, 040, 000
13, 000, 000
13, 000, 000
13, 000, 000
12, 000, 000
12,000,000.00
^ n , 140,000. (10
15,440,000.00
15, 04U, 000. 00
13, 000, 000. 00
13, 000, 000.00
13, 000, 000. 00
10, 000, 000. 00
98, 620,000
2. 000, 000. 00
96, 620,000. 00
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
13, 032. 00
5, 044. 00
59,735. 00
46,140. 00
62,160. 00
44, 000. 00,
1, 300. 00
1, 000.00
1, 000. 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, 260, 000
233, 411. 00
291,020,589.00
=
'
1863.
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 l i 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
........oo...
. ... .
'.
J
<
45
TEEASUEEE.
NO. 19.-—ISSUES 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 F I S C A L YEARS—CoQtiuued.
Denomination.
»
'
Decrease in
ciruuiaLion.
I n c r e a s e in
circulation.
Issued.
Redeemed.
$96, 759. 35
62, 648. 05
175, 290. 50
156, 233. 50
231, 622. 00
90, 622. 50
181, 400. 00
8, 467, 5(J0. 00
10, 304, 000. 00
$849,249. 65
703, 351. 95
15, 524, 709. 50
18,723, 76t). 50
11, 688, 058. 00
6, 881, 5 77. 50
3, 362, 606. 00
•
$946, 000
766, 000
15, 700, 000
18, 880, 000
11, 919, 680
6, 975, 200
3, 544. 000
7, 414, 000
17, 904, 000
-...
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
190.947.50
333,140. 00
632, 475.00
1, 344, 000.00
925, 04.^. 60
1,869.425.80
569, 544. 50
813, 777- 00
5, 40-i, 860
4, 253, 662. 60
4,177, 792 .90
714, 000
604,000
11, 000, 000
22, 000, 000
1, 266, 495.15
1,421, 898.50
588, 593.50
473, 548.00
969, 532. 00
406, 892.50
552, 675.00
.387,425.00
672, 800.00
34, 378, 000
6, 739, 859.65
1864.
T w o <ioilers
Fivedollars
...
T e n dollars
T w e n t y dollars
F i f t y dollars
One hundt'tjddollars .
.
.'...
One thousand dollars
Total
i
$1, 053, 500. 00
7,600, 000. 00
..
1, 053, 500. 00
1 ,
1865.
O n e dollar
T w o dollars
F i v e drdlars
T e n dollars
T w e n t y dollars
F i f t y dollars
•
'
....
l^ive h u n d r e d dollars
One t h o u s a n d d o l l a r s
...
'..;..,.*
Total
.526 033 00
190 947 50
333,140.00
632, 475.00
1, 344, 000.00
3, 026, 595.50
1866.
One dollar
T w o dollars ^ . . .
..
Five dollars......
T e n dollars
T w e u t y dollars
F i f t y doll'ars
One h u n d r e d dollar.s'
Five hundred dollars...1
One t h o u s a n d dollars •..
i
.......
Total
1
. . . . . . . . . . . J . . . .
10, 612, 575.00
21, 327, 2d0. 00
31, 939, 775.00
1867.
One dollar
T w o dollars
......
F i v e dollai's
T e n dollars
T w e n t y dollars
F i f t y dollars
O n e hun'dred d o l l a r s .
F i v e h u n d r e d dollars
O n e t h o u s a n d dollars
..... ...
...
1,500,000
^ 2,000,000
1..
.
10
„...
..
. .
2, 040, 000
50, 412, 000
3, 220, 683.25
3, 691, 717.10
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
61, 952, 010 . 117,262,708.85
Total
552,495.15
757, 898.50
688, 593.50
473 .548.50
969, 532.00
406, 892.50
552, 675.00
1
4. 301, 634.65
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
1
i
'
. 1
1, 676, 675.00
5, 852, lOd. 00
7, 528, 775.00
62, 839,473.85
1868.
O n e dollar
T w o dollars
F i v e dollars
T e n dollars
T w e n t y dollats
F i f t y d o l l a r s . .^
One h u n d r e d d o l l a r s
F i v e h u n d r e d dollM.rs
O n e t h o u s a n d dollars
...
2, 032, 000
8,112, 000
4, 297, 683.25
4, 607, 751. 70
2,210,801.25
3, 506, 372. 50
2, 391, 665. 00
841, 932. 50
974, 975. 00
1, 504, 975.00
5, 459, 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, 21-1, 355.00
6, 010, 285.00
7, 548, 475. 00
7, 669, 000.00
1 •
2,451,525] 00
12, 331, oooj 00
77, 519, 892
57, 947, 521. 80
29 443 325170
.2,483,348
3, 510, 696
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
1,
527, 025.00
2, 653, 000 .00
•1869.
One dollar
T w o dollars
F i v e dollars
Ten 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'
oo...
,..
4.
2, 305, 315.50
1,171,072 00
10,184, 091 00'
1
Total
12,897,137.20
7, 211, 355.00
354, 285.00
•
1-^
9, 870, 955.50
46
R E P O R T ON T H E
No. 19.—ISSUES AND
FINANCES.
R E D E M P T I O N S OF U N I T E D STATES NOTES BY
DENOMINATIONS
AND B Y FISCAL YEARS—Continued.
Denomination.
1870.
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 h u n d r e d d o l l a r s . . .
F i v e hundred dollars..
One t h o u s a n d d o l l a r s . .
Total.
Issued.
Redeemed.
I n c r e a s e in
circulation.
$8,
14,
19,
37,
23,
20.
28,
$4,422, 884.45
5, 209; 61L 30
10, 053, 996.25
19, 001, 072. 50
21, 605, 403.00
9, 223, 6L7.50
11,411, 460. 00
16, 433, 475. 00
37, 812, 000. 00
$3, 797,115. 55
8,822,388. 70
9, 526,003. 75
18, 918, 927. 50
2,154, 597. 00
11, 376, 382.50
17.188, 540. 00
135,173,520 00
71,783,955.00
480, 000
992, 000
560, 000
400, 000
680, 000
600, 000
120,000
34, 800, 000
54, 800, 000
5, 002, 208.45
6, 821, 860.80
14, 016, 532. 25
16, 997, 841.60
16, 607, 793. 00
5, 089, 320, 00
8,915, 880.00
16, 0(39, 875. 00
31, 067, 000. 00
12, 477, 791. 55
10,170,139. 20
18, 730,125. 00
23, 733, 000. 00
202, 432, 000
120, 588, 3n. 00
92, 096,101.25
220,
032,
580;
920,
760,
600,
6u0,
000
000
000.
000
000
000
000
152, 712, 000
D e c r e a s e in
circulation.
$16,433,475.00^
37, 812, 000. 00
54, 245, 475.00
187L
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
L
One h u n d r e d d o l l a r s . .
F i v e h u n d r e d dollars .
Onethouvsand dollars .
Five thousand dollars.
Ten thousand dollars.
Total.
17,
16,
12,
29,
26,
9,
1,456, 532.25
12,402,158.50
10, 072, 207. 00
4, 510, 680. 00
8, 795, 880. 00
10, 252, 412. 25
1872.
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 h u n d r e d dollars . .
Five hundred dollars.
One t h o u s a n d dollars .
F i v e thousand dollarsT e h t h o u s a n d dollars .
6,284,000
8,216,000
4, 560, 000
5,160, 000
3, 080, 000
27, 300, 000
Total.
5,724, 516.
7, 566, 791.
11, 658, 604.
13, 584, 505.
13, 264, 976.
2, 700, 294.
4, 722, 665.
4, 409, 450.
4,468, 000.
60
90
00
60
50
50
00
00
00
559, 483. 40
619,208.10
68, 099, 804. 00
I, 208, 691. 50
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
Fifty dollars.
One h u n d r e d d o l l a r s . . .
Five hundred dollars..
One t h o u s a n d dollars ..
F i v e t h o u s a n d dollars .
Ten thousand dollars..
Total
,
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 C h i c a g o . . ° - . . . . . .
4, 328, 000
3, 608,000
5,240,000
L 000, 000
7, 360, 000
21, 536, 000
Total
517. 793. 20
712, 608. 55
903, 055. 00
367, 770. 75
732, 676. 50
755, 468. 00
692, 370. 00
529, 025.00
808, 300. 00
42,008,495.50
2,189, 793.
4,104, 608.
4, 663, 055.
11, 367, 770.
3, 372, 676.
1, 755, 468.
2, 692, 370.
5, 529, 025.
6, 808, 300.
64, 019, 067. 00
20
55
00
75 ^
50
00
00
00
00
42,483, 067. 00
1, 000, 000. 00
65, 019, 067. 00
Total.
1874.
O n e dollar
T w o dollars...
FiAaa d o l l a r s
T e n dollars
T w e n t y dollars
Fifty dollars
One h u n d r e d d o l l a r s . . .
Five hundred 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,
7,
9,
12,
10,
1,
2,
5,
6,
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
8, 384, 000
10, 090, 000
20,100, 000
8,671, 888. 60
9,634, 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
"i2," 260," 000." 00
84, 974, 532
94, 403, 889. 00
21, 503, 257.50
6,143, 612
7,657,520
8, 635, 760
11,705,240
12,258,400
2, 428, 276. 50
1,877,418. 00
183, 487. 50
568,145. 00
'3,* 371,'170." 6b"
5, 688,':600. 00
"2,'636,'775.'6o
'24,"628,'66o."ob
30, 932, 614.50
47
TREASURERO
No.
19.—ISSUES AND REDEMPTIONS OF U N I T E D STATES N O T E S B Y D E N O M I N A T I O N S
AND BY FISCAL
Denomination.
YEARS—Continued.
Increase in
circulation.
Issued.
Redeemed.
$14,626,156
10,934,400
6, 926, 000
13, 560, 000
10,160, 000
8, 960, 700
3, 290, 000
27,950, 000
7,500,000
$13,690,631.60
16, 923, 516.00
19, 657, 201. 50
36, 689, 380.00
30, 522, 828. 00
7, 931, 850. 00
10, 111, 500. 00
5, 663, 000. 00
27, 879, 000.00
103, 907, 256
169,068, 907. 00
24,251, 374. 50
13, 444, 758
12, 792, 000
13,120, 000
11,156, 000
12,184, 000
10,151, 000
5, 680, 000
12, 450, 000
200, 000
12, 855, 120. 60
11, 655, 842.40
11, 6.54, 081. 00
14, 905, 686. do
13,187, 379.00
5, 922, 185.00
9, 676, 760.00
9, 379, 500. 00
7, 940, 500. 00
589, 637. 40
1, i36,157. 60
1,465, 919. 00
91,177, 758
97,177, 054.00
10,147,399
9,432, 000
14,180, 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
11,159, 948.50
12, 229, 152. 00
11, 931, 466. 00
5, 559, 155.00
4, 796, 870.00
6, 617, 000. 00
6, 618, 000.00
Decrease in
circulation.
1875.
One dollar
Two 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 doUars ..
O n e t h o u s a n d d o l l a r s ..
F i v e thousand dollars.
T e n t h o u s a n d d o l l a r s ..
Total .
$935, 524. 50
$6, 989,116. 00
12,731, 201. 50
23,129, 380.00 .
20, 362, 828. 00
1, 028, 850. 00
6, 821, 500.00
22, 287, 000. 00
'26,"379,66o.'6o
89,413, 026. 50
1876.
O n e dollar
T w o dollars
Five dollars...^
Ten dollars
T w e n t y dollars
F i f t y doUars
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 . .
Five thousand dollars.
T e n t h o u s a n d dollars .
Total.
3, 749, 686. 00
1,003, 379. 00
4, 228, 815. 00
3, 996, 760.00
'3,'670," 500.'66
I
10, 491, 029. 00
"7,'740, 500.* 66
16, 490, 325, 00
1877.
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 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.
Ten thousand dollars.
Total.
2, 847, 207.10
2,110, 653.40
3, 020, 051. 50
"""I
'
424,145. 00
2,188, 330. 00
il6, 000. 00
I
4, 909,152. 00
3, 771,466. 00
2,118, 000. 00
I
72,440,899
82,448, 851.00
5, 748, 626.50
7, 562, 351
6, 288, 000
15, 820, 000
11, 380, 000
9, 200, 000
3, 200, 000
6,408, 600
4,817,000
2, 600, 000
11, 792, 775.00
10, 746, 878.00
16,111,867.00
13, 763,063.00
9,086,554.00
6. 267, 030.00
4,194,100.00
4,424,000.00
3, 973. 000.00
67, 275,951
80,359,267.00
6, 503,133
6, 892, 000
11,060,000
9, 280, 000
7,400, 000
2,400, 000
5, 007, 700
6, 650, 000
3, 900, 000
4, 005, 000
3, 010, 000
9, 223, 026.50
8, 710, 295. 00
11,622, 443.50
10, 193, 082.00
9, 649, 756.00
4, 059, 340.00
4,593, 890.00
3, 959, 000.00
2, 042, 000. 00
5, 000. 00
50, 000. 00
413,810.00
1,691,000.00
1, 858, 000.00
4, 000, 000.00
2, 960, 000.00
64,107,833
64,107, 833.00
10, 922,810.00
15, 756,478.60
1878.
One dollar
T w o dollars .'.
Fivedollars
,
T e n dollars
T w e n t y dollars
Fifty dollars.
One'hundred dollars..
Five hundred dollars.
One t h o u s a n d dollars .
Five thousand dollars.
T e n t h o u a a n d dollars.
Total.
4, 230,424. 00
4,458,878.00
291,867.00
2, 383, 063. 00
113,446. 00
3, 067, 030. 00
2, 214, 500. 00
393,000. 00
"i," 373,'066* 66
2, 720, 946. 00
15, 804, 262. 00
1879.
One dollar
T w o dollars
F i v e dollars
Ten dollars...-.
,
T w e n t y dollars
F i f t y dollars .A
O n e h u n d r e d dollars —
Five hundred dollars..
One t h o u s a n d dollars ..
F i v e t h o u s a n d dollars..
Ten thousand dollars.
Total-„„ooooo„.,
2, 719, 893.50
^2,818,295.00
• 562,443.50
913, 082.00
2, 249, 756.00
1, 659, 340.00
10, 922, 810.00
48
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 D E N O M I N A T I O N S
AND
Denomination.
BY
FISCAL
YEARS—Continued.
Issued.
Redeemed.
I n c r e a s e in
circulation.
Decrease in
circulation.
1830.
. O n e dollar
Two dollars.
Fivedollars
—
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 .
Five thousand dollars.
T e n th<3)usand d o l l a r s .
Total,
$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
935, 51L 80
971, 840.20
354, 565.00
241, 81L 00
687, 680. 00
114, 345.00
293, 310. 00
645, 500. 00
238, 000. 00
320, 000. 00
600, 000.00
$2,122, 361. 20
2, 260,159. 80
11, 325, 435. 00
10,278,189.00
11, 672, 320. 00
81, 202; 563
81, 302, 563. 00
38,417, 845.00
$714, 345. 00
.759,390.00
13, 345,
18, 538,
3, 320,
2, 500,
500.00
000.00
000. 00
000.00
38,417, 845. 00
1881.
604.40
690.60
470. 00
364. 00
610. 00
085, 00
510.00
OOO. 00
000.00
000. 00
000.00
2,313,429.60
1, 891, 309. 40'
4,136. .530. CO
2, 073, 636.00
128, 390.00
54, 545, ,334
54, 545, 334. 00
10, 693, 085. 00
11, 445, 524
10, 472, 000
14,280,000
6, 68U, 000
5, 680, 000
3, 200, 000
4, 527, 900
1, 750,000
1, 500, 000
•' 4,995,000
14, 990, 000
370, 332.00
093, 497. 00
506, 538. 00
885, 621.00
294, 126. 00
711, 140.00
006, 170.00
444, 000. 00
189, 000. 00
030, 000. 00
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
610.80,
231. 20
455.00
880. 00
562. 00
875. 00
600.00
500. 00
000. 00
000. 00
000. 00
2,015,503.20
901, 768. 80
3,807,545.00
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 d o l l a r s . . .
F i v e h u n d r e d dollars ..
One thousand d o l l a r s . .
Five thousand dollars..
Ten thousand dollars..
Total.
1,106, 085.00
149, 790.00
4,654,000.00
4, 508, 000.00
225, 000. 00
200, 000. 00
10. 693, 085. 00
1882.
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 ..
F i v e t h o u s a n d dollars .
T e n t h o u s a n d doUars ..
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.
O n e dollar
T w o dollars
r.
F i v e dollars
T e n dollars
T w e n t y 'dollars
F i f t y doUars
One hundred d o l l a r s . . .
F i v e - ' h u n d r e d dollars . .
One thousand dollars . .
Five thousand dollars..
Ten thousand dollars..
109, 764, 714
Total.
109, 764, 714.00 .
51, 880. 00
6, 210, 562. 00
305, 875. 00
167, 000.00
222,500.00
1,993,000.00
105, COO. 00
2,100,000.00
8, 940, 317. 00
8, 940, 317. 00
1884.
One dollar
T w o dollars
F i v e dollars
Ten dollars
.:^
T w e n t y dollars
F i f t y doUars
:..
One hundred d o l l a r s . . .
F i v e h u n d r e d dollars . .
One thousand doUars...
F i v e thousand dollars .
Ten thousand dollars ..
Total.
8, 943, 236
7,808, 000
23, 420, 000
12,160, 000
9, 280, 000
4,200, 000
5, 237, 000
4, 900, 000
10, 000, 000
85, 948, 236
019, 508. 00
434, 508. 00
017, 170.00
365, 870. 00
672, 280.00
877,, 000. 00
898, 400. 00
;, 084, 500. 00
.. 294, 000. 00
"185, 000.00
100, 000. 00
85, 948,236. 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
1,815, ,500.00
4, 706, 000. 00
185. 000.00
100, 000. 00
10, 924,330.00
10, 924, 330.00
49
TEEASUEEE.
No. 19. —ISSUES AND REDEMPTIONS OF U N I T E D STATES JfoTES B Y DENOMINATIONS
AND BY FISCAL YEARS—Continued.
Denomination.
1885.
One doUar
Two dollars.
Five dollars
Ten doUars
Twenty dollars
Fifty dollars
Onehundred dollars...
Five hundred doUars ..
One thousand dollars ..
Five thousand dollars .
Ten thousand dollars ..
T ot al.
Issued.
$10,187, 163 $11,896,276.00.
10, 856,. 000
10,458,817.00
18,855,110.00
19, 300, 000
14, 627, 630. 00
9, 640, 000
12, 688,120. 00
9, 760, 000
4, 549, 000.00
4, 800, 000
6, 344, 200. 00
.5, 600, 000
2; 707, 000. 00
2, 350, 000
2, 318, 000. 00
12, 000, 000^
30, 000. 00
20, 000. 00
84, 493,153
One dollar
Two doUars —
Five dollars
Ten dollars
Twenty dollars
Fifty dollars
Onehundred doUars...
Five hundred dollars ..
One thousand dollars ..
Five thousand dollars .
Ten thousand dollars ..
Eedeemed.
84,493,153. 00
7, 348,139. 00
7, 090, 700. 09
21, 320, 000 11, 688, 586. 00
9, 960, 000
7, 840, 725. 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
40, 000.00
30,000.00
63, 000, 000.00
Total .
1887.
One dollar
Two dollars
Fivedollars
Ten dollars
Twenty dollars
Fifty doUars.
One hundred dollars . . .
Five hundred dollars ..
One thousand dollars ..
Five thousand dollars .
Ten thousand dollars ..
T ot al.
26, 740,000
22, 640, 000
16, 240, 01)0
. 2,000,000
2, 800, 000
3, 648, 000
i
Increase in
circulaition.
Decrease incirculation.
$1,708,123.00
$397,183.00
444,890.00
4,987,630.00
2,928,120.00
251, poo. 00
i-
•
744, 200.00
357,000.00
9, 682, poo. 00
30, 000. 00
20, 000.00
10, 775, 073.00
10, 775,073. 00
7, 348,139. 00
7,090,700.00
9, 631,414. 00
2,119, 275.00
48,130. 00
168, 630.00
1,537, 090.00
4,133, 000.00
8, 645, 000. 00
40,000.00
30, 000. 00
20, 395, 689.00
20, 39.5, 689. 00
8, 806, 646. 00
t
9,195, 798. 00
17, 304, 368.00
9,436, 632. 00
8, 927,190. 00 13, 712, 810. 00
7, 389, 018.00
8, 850, 982.00
3, 382, 280. 00
4, 516, 300. 00
4, 719, 600. 00
9, 812, 000. 00
15, 000. 00
8, 806,546. 00
9,195,798.00
74, 068, 000
74, 068, 000.00
7, 300, 000
17, 000, 000
28, 800, 000
2, 800, 000
4, 900, 000
1, .500, 000
1, 352, 000
3, 617,144.00
4, 031,,636. 00
21, 309,978.00
11,107, 070.00
7, 915,437. 00
2,838, 435. 00
3,439, 300. 00
1,136, 600. 00
8, 246,500. 00
10, 000. 00
63, 652, 000
63, 652, 000.00
13, 720, 000
18, 880, 000
6, 000, 000
7, 600, 000
7, 760, 000
5, 500, 000
1,466, 704. 60
1, 625,642.40
22, 719,912.00
13, 400,148.00
10, 280,678.00
3,628, 135. 00
3, 895,280.00
1, 318,500.00
1,116, 000.00
319, 852. 00
8, 599, 322.00
2, 371, 866.00
3, 704, 720.00
6,431,500.00
4, 384, O'OO. 00
59, 450, 000
59,450, 000.00
25, 811,2,59. 00
31, 999,424.00
1, 382, 280. 00
1,716,300.00
4, 719, 500.00
6,164, 000. 00
16, 000.00
31, 999,424.00
1888.
One dollar
Two dollars
Five dollars
Ten dollars
i
Twenty dollars
Fifty doUars
One hundred dollars . . .
Five hundred dollars ..
One thousand dollars ..
Five thousand dollars .
T ot al.
1889.
One dollar
—
Two dollars
Five dollars,
Ten doUars
Twenty dollars
Fifty dollars
One hundred dollars ..
Five hundred do^Uars .
One thousand dollars .
Total
'
. FI 89
3,617,144.00
4, 031, 636.00
14, 0.09, 978.00
6, 892, 930.00
20, 884, 563. 00
38,435.00
1, 460, 700. 00
363, 500.00
I
28, 601, 693.00
6, 894, 500. 00
10,000.00
28,60L 693. 00.
1,465,704. 60
1,625,642.40
221,719,912.00
25,811,259.00
50
No.
REPORT ON T H E
FINANCES.
2 0 . - ^ U N I T E D STATES NOTES 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 , FROM THE F I R S T YEAR AFTER THE ISSUE CEASED.
NEW ISSUE.
,
Percentage redeemed.
Fiscal
year.
Denomination.
One dollar
T w o doUars
\
1
F i v e dollars
Ten dollars...':....
».
'
Outstanding.
Redeemed.
Of outstanding
previous
. year.
Of outstanding
first year.
1871
1872
1873
•1874
1875
1876
1877
1878
1879
^^1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$5, 550, 859.60
3,032,58L45 "$2,'sis," 278." i s '
1, 902, Oil. 50
1,130, 569.95
• ,1-385, 728. ,00
516,283. 50
1,098,741.50
286, 986.50
984,149.05
114, 592.45
924,956.25
59,192. 80
886,378.85
38,677.40
858,650.15
27, 728. 70
840, 917.55
17, 732. 60
825, 902.45
16,015.10
813, 696.85
12, 205.60
803, 880.35
9, 816. 50
796,425.35
7,455.00
790, 917.85
5, 507.60
787,042.15
,
3, 876. 70
783, 604. 35
3,437.80
779, 992.00
3, 612.35
777,211.80
2,780.20
45." 367'
37.281
27.144
20.710
, 10.429
6.015
4.171
•3.128
2.065
1.785
1.478
1.206
.927
.692
..490
.437
.461
.357
45."367
20. 367
9. 301
5.170
2.064
1.066
.695
.499
.319
.270
.220
.177
.134
.099
.070
.062
.065
.050
1871
1872
1873
• 1874
1875
1876
1877
1878
1879
1880
1881
1882
^1883
1884
1885
1886
1887
1888
1889
7, 653, 349.65
4, 012, 652. 05 ""3," 646," 697." 66'
2, 345, 815. 00
1, 666, 837.05
1, 554, 050. 00
791, 765. 00
1, 087, 037. 00
467, 013.00
900, 792.20.
186, 244.80
809, 798.00
90, 994.20
751, 866.40
57,93L6()
710, 966. 60
40,899. 80
684, 899.20
26, 067.40
663,480. 80
21,418.40
646,282.40
17,198.40
631, 674. 20
14,608.20
620, 966. 20
10, 708. 00
612,424. 20
8, 542.00
606, 003.20
6,421.00
600, 388. 60
5,614.60
595, 417.00
4, 971.60
591, 390.60
4,026.40
47.'576"
41.540
33.752
30.051
17.133
10.101
7.1'54
5.440
3.666
3.127
2.592
2.260
^ 1.695
L376
L048
.926
.828
.676
47*576
21. 779
10.345
6.102
2.433
1.189
, . 757
.534
.341
.280
.225
.191
.140
.112
.084
.073
. 065
.053
1871
1872
1873
1874
1875
1876
• 1877
1878
1879
1880
1881
lb82
1883
1884
1885
1886
.1887
1888
1889
37, 057, 743.00
25,579,238.25 ""ii,"478,'564.'75
16,503.237.50
9, 076,.000.75
10, 723, 300. 00
5,779, 937. 50
6,191,69L50
4, 531, 608.60
3, 999, 005.75
2,192,685.75
2,913,630.75
1, 085, 375.00
2, 307, 392. 75
606, 238. 00
1, 893, 803. 25
413, 589. 50
. 1,625,929.25
267, 874. 00
1, 405, 249. 75
220, 679.50
1,187, 808.75
217, 441.00
997, 028. 75
190, 780. 00
844, 628. 75
152, 400. 00
729, 886. 25
114, 742.60
653, 515. 75
76, 370.50
596, 076. 25
57, 439. 50
542, 950. 00
53,126. 25
498, 631.00
44, 319.00
36.975'
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
8.163
36.* 975
24.491
15.597
12.228
5. 917
2.929
1. 636
L116
.723
.595
.587
.515
.411
.310
.206
;155
.143
.120
49,536,106.25
36, 577, 227. 76 "i2,"958,"878.'56" ' • " " 2 6 . ' i 6 6 '
25, 990, 230. 00
10, 586, 997.75
28.944
18, 781, 720. 00
7,208,510.00
27.735
12, 693, 530.00
6, 088,190.00
32.416
9, 387,167.00
3; 306, 363. 00
26.048
7, 636, 242. 00
1, 750, 925.00
18.652
6, 645,157. 00
991, 085. 00
12.980
5, 956, 497. 00
688, 660.00
10.363
5, 541, 071. 00
415, 426.00
6.974
5,189, 809.00
351,262.00
6.339
^ 4,807,879.00
381, 930.00
7.359
26.*i66
2L372
14.552
12.290
6.675
3.535
2.001
1.390
.839
.709
.771
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
51
TEEASUEEE.
No. 20.—-UNITED 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.
1
N E W ISSUE—Continued.
;
Percentage redeemed.
Denomination.
Ten dollars.
Twenty dollars.
Fifty dollars .
One hundred doUars.
Five hundred dollars.
Fiscal
year.
1884
1885
1886
1887
1888
18.89
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
Outstanding.
$4, 446, 304.00
4,141, 664. 00
3,904,269.00
3, 750,''684. 00
3,634,247.00
3, 526,891.00
3,437,825.00
47, 546,662.00
34, 474,763. 00
24,275, 500.00
17,189, 740.00
11,303, 656.00
8,102,339.00
6,343,50;. 00
5, 314,925.00
4, 634,333.00
4, 217,519.00
3, 851,193.00
3,461,701.00
3, 086,641. 00
2, 757,901. 00
2,498,131. 00
2, 319,887.00
2,186,153.00
2,062,014.00
, 1, 961,280.00
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1871
1872
1873
1874
1876
18761877
1878
1879
•1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1871
1872
1873
1874
11,074,436.00
' 6,491,
765.00
4,116,600.00
2, 815,300.00
1, 888,700.00
1,459, 900. 00
1,199, 710.00
1, 040,310.00
921, 010.00
824, 810.00
754, 510.00
681, 610.00
626, 210. 00
572, 010. 00
527, 710. 00
453, 910. 00
426, 310. 00
402, 600.00
382, 100. 00
7, 727,476.00
4,200, 625. 00
2, 702, 500. 00
1. 817, 500. 00
Redeemed.
$361, 575.00
304, 640.00
237, 395. 00
153,586.00
116,437. CO
107, 356. TO
89, 066.00
I Of outstanding
previous
' year.
Of outstanding
first year.
7.520
6.852
5.732
3.934
3.104
2.964
.2.525
.730
.615
.479
.310
.235
.219
.180
13, 070,899. 00
10,199, 263.00
7,085, 760. 00
5, 886,084. 00
3,201, 317.00
1,758, 838. 00
1, 028,576.00
680, 592.00
416, 814.00
326.00
492.00
375^ 060. 00
328, 740.00
259, 770.00
178, 244.00
133, 734.00
124. 139.00
100, 734. 00
27.491
29. 585
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
4.885
27.491
2 L 451
14.903
12.380
6. 733
3.699
2.163
L431
.877
.770
.81.9
.789
.691
. 546
.375
.280
.261
.212
2, .527, 072.00
1, 344, 715. 60
816, 725.00
588,150.00
310, 800.00
174,480. 00
" 117,400.00
83, 636.00
55, 895.00
•44,000.00
47, 750.00
42, 200.00
41,500.00
32, 050.00
30, 900. 00
20,000. 00
17,190. 00
-14, 696.00
38.425
33. 207
30.195
31.161
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
2.653
L785
1.272
.850
.669
.726
.642
.631
.487 •
.470
. 304
.261
.223
4,582, 670.00
2,375, 165. 00
1,301, 300.00
926, 600. 00
428, 800.00
260, 190. 00
159, 400.00
119, 300.00
96, 200.00
70, 300.00
72, 900.00
55, 400. 00
54, 200.00
44, 300.00
73, 800.00
27, 600.00
23, 710.00
20, 600.00
41. 3'81
36.572
3L611
,32. 913
22. 703
17.823
13.286
11.468
10.445
8.523
'9.662
8.128
8. 655
i 7. 745
13.985
6.081
5.562
5.092
41.381
2L447
11.750
8.367
3.872
2.349
L439
L077
.869
.636
.'658
.500
.489
.400
.666
.249
.214
.185
3, 526, 950. 00
1, 498, 025. 00
885, 000. 00
45.642
35.663
32.747
45.642
19. 386
11.453
52
No.
REPORT ON T H E FINANCES.
20.—UNITED
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.
Denomination.
Fiscal
year.
Outstanding.
1875
1876
1877
1878
1879
1880
1881
1882
18b3
1884
1885
1886
1887
1888
.1889
1871
1872
1873
1874
1875
1876
1877
1878
' 1879
1880
1881
. 1882
1883 ,;
1884 •
18S5
1886
1887
1888
1889
^
"^ .
Of outstanding
previous
year.
/»
/
F i ve h u n d r e d doUars
Redeemed.
Of outstanding
first y e a r .
$1,1.55, 000. 00
980, 000. 00
872,000. 00
705, 000. 00
618, 500. 00
506, 000. 00
474, 500. 00
420, 000. 00
398, 000. 00
377, 000. 00
359,000. 00
.260, 500. 00
243,000.00
232,000. 00
•
225,500. 00
$662, 500. 00
175,000.00
108, 000.00
167, 000. 00
86, 500. 00
. 112, .500.00
31, 500.00
54, 500.00
22, 000. 00
21,000.00
18, 000. 00
98, 500.00
17,500.00
11,000.00
6, 500. 00
36.451
15.162
11.020
19.151
12. 270
18.189
6.225
I L 486
5. 238
5.276
4.775
27.437
6. 718
4.527
2.802
9,084,300.00
4,853,300.00
3, 217, 000.00
2, 243, 000. 00
1, 369, 000. 00
1,192, 500. 00
1,11.0, 500. 00
898, 500:00
812, 500. 00
669, 500. 00
626, 500. 00
544, 500. 00
511,.'i00.G0
490, 500. 00
468, 500. 00
236, 500.00
215,500.00
206, 000. 00
201,000.00
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. UO
43, 000. 00
82, 000.00
33, 000. 00
^ 21,000.00
22, 000.00
232, 000. 00
21, 000. 00
9, 500. 00
5, 000. 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
2.427
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
.055
49.203
45.995
36.941
25. 94:L
19.616
15.198
1L98I)
8.635
7.326
. 4.634
4.892
4.72^.
3.146
49. 203
23. 304
. 10.134
4.488
2. .513
1. 565
1. 047
.664
.,514
.302
.304
.279
.177
'
8.673
2.265
L398
2.160
L119
L456
.408
.705
. 285
. 272
.233
L275
.226
.142
.084
ISSUE OF 1869.
One dollar
1
T w o dollars
1876
1877
1878
1879
1880
1881
1882
• 1883
1884
• 1885
1880
1887
1888
1889
1876
1877
1878 .
1879
1880 .
1881
1882
1883
1884
1885
1886
1887
1888
1889
$7,162, 885.06
3, 638, 539.15
1, 964,999. 65
1. 239,110.25
917, 067.95
737, 658. 75
625, 548.35
550, 567. 75
503, 027. 75
466,175.75
444, 572. 95
422, 822. 75
402, 846.50
390,172.20
$3, 524, 345.90
. 1, 073, 539. 50
725, 889:40
321, 442.30
180, 009.20
112,110,40
74,980.60
47, 540. 00
30, 852.00
21,602.80
21, 750. 20
19, 976. 26
12, G74.30
10,403, 831.20
5, 585,142.60
3, 014, 524.60
1, 744, 799.00
1,180,027.80
878, 373.00
7()0,345.40
589, 084.40
521, 752. 40
471, 111. 40
441, 227.60
410,576.40
385,794.00
369.034.80
4, 818, 688. 60
2, 570, 618.00
1, 209, 725. 60
564, 771. 20
301, 654.80
178,027. 60
111,261.00
67, 332.00
60,641.00
29, 883. 80
30,6.51.20
24, 782.40
16, 759.20
"^
1
u..
46.316
46.026
42.120
32.t^69
25.663
20.208
15. 887
11.430
9. 706
6.343
6. 947
6.036
4.370
^^J...*-«Mt-.:^
40. 316
24. 708
12. 204
5.428
2.898
L711
1.069
.647
.487
.287
.295
. 238
.162
53
TEEASUEEE.
No. 20.—UNITED
STATES
NOTES
OUTSTANDING AND REDEEMEI>
OF REDEMPTIONS, ETC.—Continued,
.
•
•
t
I S S U E O F 1869—Continued.
|
F i v e dollars.,
T e n doUarS .
T w e n t y rlollars .
Fifty dollars .
O n e h u n d r e d dollars
,
Percentage redeemed.
0
Denomination.
AND P E R C E N T A G E
i
Fiscal
year.
Outstanding.
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$29,769, 073. 76
22,131, 353.25
16, 848,338. 75
12, 753,334. 75
10, 582,914.25
8, 558,595.25
6, 270,991.25
4, 275,348. 75
2, 899,728. 75
2, Oil,641. 25
1,581, 560. 75
1, 281,743. 25
1,052, 202.50
886, 756. 00
$7, 637,720. 50
5, 283,014. 50
4, 095,004.00
2,170, 420.50
2, 024,319.00
2, 287,604.00
1, 995,642. 50
. 1, 615,620. 00
" 888,087. 50
430, 080. 50
299, 817. 50
229, 540.75
' 165,446. 50
25. 657
23.871
24.305
17.018
19.128
26.729
31. 823
32.176
30. 627
21. 380
18.957
17. 908
15. 724
25.657
17. 747
13. 766
7.291
6.800
7.684
6.704
4.621
2.983
L445
1.007
.771
.556
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
45, 093,373. 00
37,231, 848. 00
30,524, 324. 00
27,167, 585. 00
24,187, 000.00
20, 368,406. 0,0
15, 997,296. 00
11, 928,166. 00
8, 479,866.00
6, 605,001.00
5,183, 695. 00
4, 007,200.00
3, 095,799. 00
7, 861,525. 00
6, 707,524. 00
3, 356,739. 00
2, 980.585. 00
3, 818,594. 00
4,371, 110. 00
4, 009,130.00
3,448, 300.00
1, 874,865. 00
1, 421,306. 00
1,176, 495.00
911, 401.00
.17. 434
18. 016
10. 997
10.971
15:788
21. 460
25. 436
28. 909
22.110
21. 619
22.696
22.7"44
17. 434
14. 875
7.444
6. 610
8.468
9.693
9. 024
7.647
4.158
3.152
2.609
2.021
1877
1878
1879 :
1880
1881
1882
1883
1884.'
1885
1886
1887
1888
41, 973,350.00
35, 605,848. 00
29, 386,350. 00
26, 388,106.00
23, 838,002.00
20, 612,668. 00
16, 839,166. 00
13, 066,686. 00
• 9,666,996.00
7, 798,078. 00
6, .301,534. 00
4, 959,530. 00
3, 833,084.00
6,467, 502. 00
6,119, 498. 00
2, 998,244. 00
2, 550,104. 00
3, 225,334. 00
3, 773,502.00
3, 772,480. 00
3, 399,690. 00
1, 868,918. 00
1, 496,544. 00
1, 342,004. 00
1,126, 446. 00
1-5. 409
17. 235
10.^203
9.664
13.530
18. 307
22.403
26.018
19. 333
19.191
21.296
22.713
15. 409
14.579
7.143 .
6.076
7:684
8. 990
8.988
8.100
4. 453
3.665
3. 197
2.684
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
17,552^ 350700"
13,157, 165. 00
7, 088,835. 00
5,239, 890. 00
4, 456,820. 00
3, 885,950.00
3, 365,355. 00
2,789, 505. 00
2,2.51, 155. 00
1, 759,980. 00
1,472, 540. 00
1, 245,675. 00
1, 072,975. 00
908, 625. 00
4, 395.185.00
6, 068,280. 00
i, 848,995. 00
783, 070. 00
570, 870.00
520, 59.5. 00
575, 850. 00
538, 350. 00
491, 175. 00
287, 440. 00
226, 865. 00
172, 700. 00
164, 350.00
25. 040
46.121
26. 083
14. 944
12.809
13.397
17.111
19. 299
21.819
16. 332
15.406
13.'864
15. 317
25.040
34. 572
10. 5.34
4.461
3.252
2.966
3.280
3.067
2. 798
L638
1.293
.984
.936
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
20, 388,440. 00
16, 246,760. 00
13, 429,460. 00
10, 789,870. 00
9, 494,420.60
8. 424,850.00
1, 504, 050.00
6, 402,050.00
5,158, 750.00
3,861, 350. 00
3, 204,750.00
2,710, 500.00
2,306, 000.00
1, 907,030. 00
4,141,680. 00
20.314
17.341
19. 655
12. 006
11. 265
10.930
14. 685
19.420
25.160
17. 004
15.422
14. 923
17.301
20.314
13. 813
12. 947
6.354
6.246
4.516
5.405
6.098
6.363
3. 220
2.424
L984
L957
Redeemed.
I Of outis t a n d i n g
previous
year.
2, 817,300.00
2, 639,590. 00
1, 295,450. 00
1. 069,570. 00
920, 800. 00
1,102, 000. 00
1, 243,300. 00
1, 297,400.00
656, 600.00
494, 250.00
404, 600. 00
970. 00
Of outstanding
first y e a r .
54
REPORT ON THE
No. 20.—UNITEI^ STATES NOTES
FINANCES.
OUTSTANDING AND
R E D E E M E D AND
PERCENTAGE
OF REDEMPTIONS, ETC.—Coutiuued.
ISSUE OF 1869—Continued.
c
Denomination.
F i v e h u n d r e d dollars
i...
f
O r ft t h o u s a n d dollars
...
*,
Fiscal
yeai-.
Outstanding.
Redeemed.
1876
1877
1878
1879
1880
1881
1882
1883
^0 1884
1885
1886
1887
1888
$1, 402, 600.00
957, 000. 00
764, 500.00
640, 500. 00
548, 500. 00
447,000.00
403, 500. 00
364, 000. 00
332, 000. 00
315, 500. 00
278, 000. 00
263, 000.00.
257, 500. 00
249, 500. 00
$445,500.00
192, 500. 00
. 124, 000. 00
92,000. 00
101, 600. 00
43, 500. 00
39, 500. 00 •
. 32, 000. 00
• 16,500.00
37, 500.00
15, 000. 00
5, 500.00
8, 000. 00
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
33,475, 000. 00
29,721,000.00
27,951, 000.00
11, 672, 000. 00
7. 610. 000. 00
6, 824, 000.00
5, 371, 000. 00
3, 856, 000. 00
2, 595, 000. 00
1, 983, 000.00
1,462,000.00
1, 326, 000. 00
^ 1,152, 000.00
Percentage) redeemed.
Of outstanding'
previous
year.
Of outstanding
first y e a r .
31.765
20.115
16. 220
14. 364
18. 505
9.732
9.789
8. 791
4. 970
11.886
5. 396
2. 091
. 3.107
3, 754, 000.00
1,770,000.00
16, 279, 000. 00
4, 062, 000. 00
786, 000. 00
1, 453, 000. 00
1, 515, 000. 00
1,261,000.00
612, 000.00
521, 000. 00
136, 000. 00
174, 000.00
11.214
5.955
58.241
34.801
10. 329
21.292
28. 207
32. 702
23.581
26.273
9.302
13.122
31.765
13. 725
8.841
6.560
7.237
3.102
2.816
2. 282
L176
«> 2.674
L070
.392
.570
11.214
5. 288
48.630
12.134
2.348
4.341
4: 526
3; 767
1.828
1. 556
.406
.620
,
ISSUE OF 1874.
•
One d o l l a r .
..
.....................
''
T w o dollars
-
1
o
Fifty dollars
....r
1878
1879
1880
1881
1882
1883
1884
1885 j
1886
1887
1888
1889
1877
1878
1879
1880
1881
1882
1883
1884
1885
vl886
1887
1888
1889
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888.
1889
$2,944,099.40
1, 338, 949. 20
713.192. 00
443, 885. 00
315, 719.00
• 248, 593.40
211, 323.40
185, 620. 90
171, 228. 90
158,126. 60
139, 566.00
132, 432. 90
8, 037, 865.00
4,014,983.60
1,85L025.80
935, 767.00
622. 351. 00
329, 669. 00
235, 332. 00
187, 016. 00
154. 593.00
137. 696.20
122, 922.60
107,181.00
99, 554.20
16, 477, 900. 00
14, 615, 040.00
13, 586, 355. 00
12, 347, 685. 00
11, 017, 940.00
9,110, 240. do
7,114,490.00
5, 293, 215. 00
4, 510,170. 00
3, 696, 025. 00
2, 980, 750. 00
2, 284,960. 00
$1, 605,150.20
625, 7.57. 20
269, 307. 00
128,166. 00
67,125.60
37,270. 00
25, 702. 50
14, 392. 00
13,102. 30
18, 560.60
7,133.10
,
"
54. 521
46. 735
37. 761
28. 874
21.261
14.992
12.163
7.753
7. 652
11. 738
5.111
•
54.521
21.255
9.147
4. 353
2. 280
1.266
. 873
.489
.445
.630
.242
•
4,022,88L40
2,163, 957.80
915,258. 80
413, 416.00
192, 692. 00
94. 327.00
. 48,316.00
32, 423. 00
16, 896. 80
14,773.60
15,74L60
7, 626.80
50.049
53. 897
49.446
44.179
36.889
• 28.614
20. 531
. 17.337
10.930
10. 729
12. 800
7.116
50. 049
26.922
11. 387
5.143
2. 397
L174
.601
.403
.210
.184
.190
. 095
1. 862, 860.00
1, 028, 685. 00
1, 238, 770. 00
1, 329, 645. 00
1, 907, 700. 00
1, 995, 750.00
1, 821, 275.00
783, 045.00
814,146. 00
715, 275. 00
695, 790.00
ii. 365
11. 305
6.243
7.512
8. 069
11.577
12.112
11. 053
4. 752.
4.941
4.341
4.223
7.039
9.118
10.768
17.314
21. 907
25. 600
14.793
18.051
19. 353
23. 343
55
TEEASUEEE.
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
OF REDEMPTIONS, ETC.—Continued.
PERCENTAGE
I
ISSUE OF 1874—Continued.
1
Percentage redeemed.
1
Fiscal
year.
Denomination.
Outstanding.
Eedeemed.
: 0 f outstanding
previous
1 year.
Of outstanding
first y e a r .
1
F i v e h u n d r e d dollars
;
1876
1877
; 1H78
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$20, 333, 500.00
17,483, 500. 00
14, 084, 500.00
13, 032, 000. 00
6,^706,000. 00
4,556,500.00
4, 077, 000. 00
3,409, 500.00
2, 608, 000. 00
1, 778,500. 00
1,164, 500. 00
633, 500. 00
500, 000. 00
323, 500. 00
$2, 850, 000.00
3, 398, 000. 00
1, 053, 500.00
6, 326, 000. 00
2,149, 500.00
479, 500.00
667, 500. 00
801, 500. 00
829, 500. 00
614, 000. 00
531, 000. 00
133,500.00
176, 500.00
1
.1
I
1
1
i
14.016
19.435
7.4P0
48.542
32. 053
10.500.
16.372
23.508
31.806
34.523
45.599
21. 073
35.300
f
1
1
1
i
14.016
16. 709
5.181
31. 111.
10. 571
2.358
3.283
3.942
4.079
-3. 020
2.611
• . 657
.868
ISSSUE O F 1875.
One dollar
T w o dollars
F i v e dollars
)
T e n dollars
T w e n t y doUars
1
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$9,251,766.20
5, 377, 945. 80
2, 807, 348. 20
1, 395, 851.60
781,712.80
628, 070. 80
397, 342. 80
339,157.70
294,124. 20
255, 935. 00
235, 731. 30
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
. 18&J
12,235,861.80
8, 279, 34^^. 20
4, 802, 927, 80
2,366,030.40
1, 202, 899. 40
733,743.40
486, 987. 40
379, 944.20
290, 004. 60
238, 550.00
208, 871. 00
1879
1880
1881
1882
1883
1884
1886
1886
1887
1888
1889
31,839,517.00
27,194, 810. 00
22, 434, 069. 00
16,198, 976. 00
10, 276, 353. 50
6,181, 848. 50
3, 691, 218. 50
2, 5.18, 343.50
1, 863, 876. 00
1, 409, 855. 00
1,120, 583.00
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
19, 061, 816.00
17,434,050.00
15, 717, 291.00
13,137, 964. 00
9, 958, 559. 00
7, 028,799. 00
4, 637,419. 00
3, 361,158. 00
2, 431, 072. 00
1, 744, 830.00
1,273,56L00
1879
1880
• 1881
1882
1883
1884
20,122.240.00
18, 694, 202. 00
17, 248, 292. 00
15, 091, 064. 00
12, 323, 854.00
9,405, 574.00
1,428,038.00
1,445,910.00 •'
2,157,228.00
2,767,210.00
2,918,280.00
$3, 873, 820.40
2, 570, 597. 60
1,411,496.60
614,138. 80
253, 642. 00
130, 728. 00
58,185.10
45, 033. 50
38,189. 20
20, 203. 70 .
1
1
'
41.871
47.799
50.279
43.997
1
32.447
1
24.756
1
14.644
13. 278
. 12.984
7.894
41. 871
27. 785
16.257
6.638
2. 742
L413
.629
.486
.413
.218
32.335
41.989
50.738
49.160
39.0)2
33.630
21.981
23. 672
17.743
12.441
32. 335
28.412
19.916
9.506
3.834
2.017
.875
.735
.422
.243
1
i
1
1
i
1
1
1
14.588
17.506
27.793
36.562
39.844
40.289
30.691
27.145
24. 386
1
20.490
' 14.588
14. 952
19. 583
18.695
12. 860
7. 822
3.558
2.181
L428
.907
I
1, 617, 766. 00 1
1, 716, 759. 00 1
2, 579, 327. 00 j
3,179,405. 00 1
2, 929,760.00 1
2, 391, 380.00
1,276, 261.00 1
930, 086.00 1
686, 242.00 [
471,269. 00 j
16.411
24.200
29.420
34.023
27.521
27.672
28..228
27.009
. 8.491
9.011
13.538
16. 688
15. 378
12.552
6.698
•4.882
3.602
2.474
7. 097
7.735
12.507
18.337
23.680
7.097
7.186
10.721
13. 752
14.503
1
i
3,956,519.60 1
3,476,414.40 1
2, 436, 897.40 1
1,163,131.00 1
469,156.00 1
246, 756. 00 '
107, 043. 20 1
89, 939. 60
61,454. 60
29, 679. 00 j
.
1
4, 644, 707. 00
4, 760,= 741.00
6, 235, 093.00
, 5, 922, 622.50
4, 094, 505. 00
2, 490, 630.00
1,132,875.00
694, 467. 50
454, 521. 00
288, 772.00
8.491
9.847
56
R E P O R T ON T H E FINANCES.
No.'SO.—UNITED STATES
N O T E S OUTSTANDING AND R E D E E M E D AND
PERCENTAGE
OF REDEMPTIONS, ETC.—Continued.
ISSUE OF 1875-Continued.
0
Percentage redeemed.
Denomination.
T w e n t y dollars
=
'
Fifty dollars. —....»o...„
O n e h u n d r e d dollars
Fiscal
year.
Outstanding.
Redeemed.
1885
1886
1887
1888
1889
- $6, 788, 874.00
5, 355,170. 00
4,172, 808.00
3,14.5, 280. 00
2, 322, 606. 00
$2. 616,700.00
1,433, 704. 00
1,182,362. 00
1, 027, 528. 00
822, 674.00
27.821
21.118
22.079
24. 624
26.156
13.004
7.125
5.876
5.106
4.088
98, 560. 00
118, 8U0. 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
86,105. 04)
5.125
6.511
7.858
10.745
17. 650
23. 528
29.527
17. 275
2L988
25. 082
28. 606
6.125
6.178
6.970
8.782
12.875
14.133
13.564
5.693
6.889
5.240
4.477
i, 395, 266.66
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
c»....o...
**
Five hundred dollars.--.....o,...„-».
1,923,100.00
1, 824, 550.00
1, 705, 750.00 "
1, 571, 705.00
L, 402, 820.00
1,155, 220. 00
883,420.00
. 622,570.00
515, 020. 00
401, 775.00
301, 000. DO
214, 895. 00
Of outstanding
previous
year.
Of outstanding
first y e a r .
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
14, 661, 200. 00
13,166, 000.00
12,490, 820.00
11, 486, 730.00
10, 445, 050. 00
8, 974, 450.00
7,199, 250. 00
5,411,650.00
4, 333,160. 00
3, 598, 860. 00
2, 954, 600. 00
• 2,338,860.00
675,180. 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
615, 740. 00
9.582
5.128
8.039
9.069
14. 079
19.781
24.830
19. 929
16.946
17.902
20.840
9.582
4.637
6.896
7.154
10.099
12.191
12. 276
7.407
5.043
4.424
4.229
1879
1880
1881
1882
. 1883
1884
1885
1886
1887
1888
1889
18, 278, 600.00
9, 299, 500. 00
6, 463, 500. 00
6, 878, 500. 00
5, 098, 500. 00
4, 020, 500. 00
3, 050, 000. 00
2,305, 000.00
1, 608, 000. 00
1,429,000.00
1, 204, 500. 00
8, 979, 000. 00
2,836, 000.00
585, 000. 00
780, 000. 00
1, 078, 000. 00
970, 500.00
745, 000.00
697, 000. 00
179, 000. 00
224, 500.00
49.123
30.496
9.051
13. 269
21.143
24.139
24.426
30.239
11.132
16.710.
49.123
15. 515
3.200
4.267
5.898
5.310
4.076
3.813
.979
L228
ISSUE OF 1878.
O n e doUar
'
J
T w o dollars
Fivedollars
,
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$9, 765, 669. 70
6, 026, 614.20
2, 696,173.80
1,176, 203. 70
620, 582. 70
374, 766. 20
• 281,825.70
216, 925. 70
182,104.00
.161, 597.10
$3, 739. 055.60
3,330, 440.40
1, 519, 970.10
555,621. 00
245, 816...50
92, 940. 50
. 64,900.00
34, 821.70
20, 506. 90
38 288
55. 262
56. 375
47.239
39.611
24.800.
23.028
16.052
11.261
38. 288
34.104
15.564,
5.690
2.517
.952
.665
.357
.210
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
8,832, 776.80
6,403, 528. 80
3, 005, 387. 20
1, 202, 723.20
572, 321. 20
311, 446.20
218, 854. 20
161, 746. 00
132, 476. 00
115, 286.20
2,429, 248. 00
3,398,14L 60
1, 802. 664. 00
630,402.00
260, 875.00
92, 592.00
57,108. 20
29, 270.00
17,189.80
27.603
53.067
69.981
52.415
45. 582
29.730
26. 094
18. 096
12.976
27.503
38.472
20.409
7.137
2. 953
1.048
.647
.331
.195
1881
1882
1883
25, 323, 781. 00
18, 942, 519. 00
11, 950, 786.50
6, 381, 262. 00
6, 991, 732. 50
25.199
36.910
25.199
27.609
67
' TREASURER.
No. 2 0 . — U N I T E D STATES NOTES OUTSTANDING AND R E D E E M E D IAND P E R C E N T A G E
OF R E D E M P T I O N S , ETC.—Continued.
o
ISSUE OF 1878—Continued.
Percentage redeemed.
Denomination.
Fiscal
year.
Outstanding.
Redeemed.
Of out|standing
[previous
' year.
Of outstanding
first year.
Five dollars.
1884
1885
1886
1887
1888
1889
$6, 946, 086. 50 $5, 004,700. 00
3, 929, 959. 00 3, 016,127. 50
2, 598, 775. 00 1,33L184.00
1, 818, 871. 00
779, 904. 00
1,344,040.00
474, 831. 00
1, 060, 856. 00
283,184.00
41. 878
43. 422
33. 873
30. 010
26.106
21. 069
19. 763
11.910
5.257
3.080
L875
L118
Ten dollars .
1880
1881
1882
1883
'1884
1885
1886
1887
1888
188a
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, 861,819. 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
L440, 085. 00
1, 022,188.00
791. 00
7.176
14. 511
23.261
29. 363
34. 369
28.197
28.676
28. 538
27.262
7.176
13. 470
18.459
17.881
14. 784
7.960
5.813
4.126
2.817
1882
1883
1884
1885
1886
1887
1888
1889
28,212,038.00
23, 365, 368. 00
17, 868, 808.00
12, 776, 798.00
9, 992,328. 00
7, 610,192.00
5, 654. 920. 00
3, 948, 604. 00
4. 846, 670. 00
6, 496, 660. 00
6,092,010.00
2, 784,470. 00
2,382,136. 00
2. 055, 272: 00
1, 606, 316. 00
17.179
23.524
28.497
21. 793
23.840
27. 007
28. 917
17.179
19. 483
18. 049
9.870
8.444
7.285
6. 694
1, 610, 000. 00
1, 541,450. 00
742, 045. 00
865,490.00,
742, 830. 00
676,420. 00
20. 317
24. 412
.15..547
21. 472
23. 468
27. 924
20.317
19.452
9.364
10.9^2
9.374
8.536
Twenty dollars..
Fifty dollars .
One hundred doUars .
Five hundred dollars.
One thousand dollars.
Five thousand dollars.
Ten thousand dollars.
1883
1884
1885
18861887
1888
1889
1883
1884
1885
1886
1887
1888
1889
15, 948, 280. 00
13, 289. 980. 00
10, 378, 380. 00
7. 664, 990. 00
6, 293, 730. 00
5, 018, 900. 00
3, 891, 220. 00
2. 658, 300. 00
2, 911, 600. 00
2, 713, 390. 00
1, 371, 260.00
1, 274, 830. 00
1,127, 680. 00
16.668
21. 908
26.145
17. 890
2t).256
22.469
16. 668
18. 257
17. 014
8. 598
7. 994
7. 071
1884
1885
1886
1887
1888
1889
9, 576, 500. 00
8, 707, 500. 00
6, 925, 000.00
3, 320, 000. 00
2, 663, 500.00
2, 069, 500. 00
869, 000. 00
2,782,600.00
2, 605, 000. 00
656, 500. 00
694,000. 00
9.074
31.9.56
• 43.966
19. 774
22. 301
9.074
29. 056
27. 202
6. 855
6.203
1884
1885
1886
1887
1888
1889
14, 688, 000. 00
13, 691, 000. 00
9, 056, 000. 00
4, 379, 000. 00
3, 692, 000. 00
3,153, 000. 00
997,000.00
4, 635, 000. 00
4, 677, 000. 00
687,000.00
539, 000. 00
6.788
33. 854
61. 645
15.689
14.599
6.788
3L 556
31. 842
4.677
3.670
185,000.00
30, 000. 00
40, 000. 00
15, 000. 00
10, 000. 00
58.
23.
40.
25.
22.
730
077
000
000
222
58. 730
9.524
12.698
4.762
3.175
100, 000. 00
20, 000. 00
30, 000. 00
62.600
33.333
75.000
62. 500
12.500
18. 750
1883
1884
1885
1886
"1887
1888
1889
315,000.00
130, 000.00
100, 000. 00
60, 000. 00
45, 000.00
35, 000. OO
35, 000. 00
1883
1884
1885
1886
1887
1888
1889
160, 000.00
60, 000. 00
40, 000.00
10, 000. 00
10, 000. 00
10, 000. 00'
10. 000.00
58
No.
REPORT ON T H E
FINANCES.
21.—FRACTIONAL C U R R E N C Y OUSTANDING AND R E D E E M E D ' AND P E R C E N T AGE OF REDEMPTIONS, FROM THE F I R S T YEAR AFTER THIS ISSUE CEASED.
FIRST ISSUE.
Percentage redeemed.
Fiscal
year.
Denomination.
F i vc cen t s
1867
$1,135,757.05
1868
1, 086, 006. 26
1869
1, 060, i l 5 . 34
1870
1, 047.192. 04
1871
1,041, 517. 56
1872
1, 039. 803. 75
1873 • 1, 038, 301.46
1874
1, 034, 535.25
1875
1,033, 8.56. 70
1876
1, 029, 555. 03
1877
1, 029. 254. 94
1878
1, 028, 987. 66
1879
1, 028, 841.10
1880
1,028,509.80
188 L
1, 028, 424.17
1882
1, 028, 368. 91
1883
1, 028, 327.14
1884
1, 028, 297.14
1885
1, 028, 263.30
1886
1, 028, 244.95,
1887
1, 028, 222. 37
1888
1, 028,199. 78
1889
1,028,189. 50
.
/
'
T'PTI (•'Ptlfci
Jk. \JLL \J\jU Lo
"
.
.
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
TJL.w>TeDni lt U^
v - fXii v*eV* cents?
\J\jU Uo
..
Fifty cents
_...
. . . . . . . . . . . . . . . o . . .
^
<7MD.-.>
Outstanding
. a t close of
fiscal y e a r .
D
«.
1867
1868
1869
1870
1871
187a
1873
1874
1875
1876
1877
1878
1879
1880
M881
1882
1883 •
1884
1885
1886
1887
1888
.1889
1,503,169.85
1, 379,113. 55
1, 32L 775.87
1, 295,126.93
1,276,530.34
1, 269, 976.88
1,267, 653.30
1,256,477.70
1,254, 374.46
1,246,5.56.22
1,245,785.42
1, 245,118.80
1,244, 876. Oi
1, 244, 324., 75
1, 244,162.55
1, 244, 058.59
1, 243, 964.65
1, 243, 924.65
1,243,863.40
1,243, 843.29
1,243,808.71
1, 243, 76L 67
1, 243, 740.43,
1867
1868
1869'
1870
1871
1872
1873
1874
' 1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
•1889
• 1, 357, 838.84
1,190,118. 82
1,118, 992. 67
1, 086,435.41
1, 072, 111. 40
1, 065, 909. 62
1, 059, d83.14
. 1,051,430.35
1, 049, 836.11
1, 042, 693.41
1, 041, 716.18
1, 040, 856.35
1, 040, 374. 79
1, 039, 797.44
1, 039, 494.02
1, 039, 305. 74
1,039,178.36
1,039,103.10
1,039, 025.47
1,039, 006.52
1, 038,933.04
1, 038, 859. 75
1, 038. 815.85
1867
1868
1869
1870
1,500, 769.19
1, 225, 852.64
1,104, 824.64
1, 048,241.49
Redeemed
d u r i n g fiscal
year.
$49," 750." 79'
25, 890. 92
12, 923. 30
5,674.48
1, 653. 81
1, 562. 29
3, 766. 21
678. 55
4,301.67
300.09
267.28
146. 56
331. 30
85. 63
55. 26
41. 77
30.00
33.84
18. 35
22.58
22.59
10.28
Of outstanding
• previous
year.
Of out'
standing
first y e a r .
I'm
2.280
4." 380"
2.384
L219
.542
.159
.150
' .363
,065
.416
.029
'
.026
.014
.032
.008
.005
.004
.003
.003
.002
.002
.002
.001
L138
. 500
.146
.138
:332
.060
.379
.026
.024
.013
.029
.008
.005
.004
.003
.003
.002
.002
.002
.001
i24,"656.'36" ' " " " 8 . " 253' " " " " 8 . 2 5 3
67, 337. 68
26,648.94
18, 596. 59
6, 553.46
2, 323. 58
11.175. 60
2,103. 24
7, 818.24
770.80
666.62
242.76
551.29
162.20
103.96
,
93.94
40.10
61.15
20.11
34.58
47.04
21.24
i67,'726."62'
71,126.15
32, 557.26
14, 324.01
6, 201.78
6, 026.48
8,452.79
1, 694. 24
7,142.70
977.23
869.83
481.56
577.35
303.42
188.28
127.38
75.26
77.63
18.95
^ 73.48
73.29
43.90
274,"9i6."55'
121,028.00
66,583.15
4.167
2.016
L436
.513
.183
.881
.167
.624
.062
.053
.019
.044
.013
,008
.007
.003
.005
.002
.003
.004
.002
3.815
1.773
1.237
.436
.155
.743
.140
.520
.051
.044
.016
.037
.011
.007
.006
.003
.004
1001
.002
. .003
.001
i2.""352'
5.976
2.909
1.318.578
.565
.797
.152
.680
.094
.082
.046
.055
.029
.018
.012
.007
.007'
.002
.007
.007
.004
12.'352
5.238
2.398
L056
.457
.444
.623
.117
..526
.072
.063
.035
.043
.022
.014
.009
.006
.006
. OOl
.005
• .005
;003
^
'"""i8."3i8
is.lis*
8.064
9.873.
5.121
8.770
59
TEEASUEEE.
No. 21.—FRACTIO^NAL C U R R E N C Y OUTSTANDING AND R E D E E M E D
AGE OP R E D E M P T I O N S , ETC.—Continued.
!
•
'
AND P E R C E N T -
1
F I R S T ISSUE-Continued.
'.. '
iPercentage redeemed.
Denomination.
Fifty cents
ft
Fiscal
year.
Outstanding
at close of
fiscal year.
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
' $1, 023, 865.74
1, 015, 548. 84
1, Oil, 141.25
993, 448. 50
990, 270. 86
976, 050.26
974, 353.81
973,144.81
972,489. 31
971, 536. 01
971,1.28. 51
970, 779. 91
970,472. 61
970,372.61
970,190.11
970,160.41
970, 060. 01
969, 938.75
969, 859. 76
Redeemed
during fiscal
year.
$24, 375.75
8, 316.90
4, 407. 59
17, 692.75
3,177.64
14, 220.60
• 1,696.46
1, 209.00.
656. 50
953.30
407.50
34H.60
307. 30
lOOi 00
182.50.
29.70
olOO.40
121.26
79.00
1 Of out! standing
1 previous
i year.
1
!
1
;•
1
i
»
1
\
1
Of out-:
standing
first year.
2.325
.812
. 434
1.750
.320
L436
.174
.124
.067
.098
.042
.036
.032
.010
.019
.003
.010
.013
.008
1.624
.554
.294
L179
.212
.948
.113
.080
.044
.063
.027
.023
.020
.007
.012
.002
.007
. 009
.005
17.065
7. 609
2.068
1.020
.460
.288
.730
.129
.313
.054
.044
.030
.047
.015
.011
.008
' .006
- .007
.005
. .004
.006
.003
17.065
6.310
1.585
.765
.342
.213
.538
, .094
.229
.039
.032
.022
.034
.011
.008
•.006
' .005
.005
.004
.003
.005
.002
SECOND ISSUE.
Five cents.
Ten cents
'
1867
1808
1869
1870
1871
1872
1 1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$960, 982.91
776,994.19
736, 355. 35
721,126.92
713, 771.13
710, 489. .50
708,443 25
703, 272.44
702, 367. 66
700,169.15
699,79L97
699, 480. 74
699, 273.49
698, 942. 50
698, 8:^6. 96
698, 760.91
698, 703. 68
698, 658. 68
698, 612. 56
698, 576. 71
698. .551.14
698,'507. 08
698,488.72
1, .579,418.68
1, 222, 857. 94
1, 084, 646. 95
962, 885. 78
945, 715.04
937, 499.11
933,516.55
922, 989. 70
920, 853.26
914, 953. 59
914,088.78
91.3,470.18
913,066.61
912, 674. 63
912,463.20
912,350.80
912, 267. 31
912, 207.11
0 912,134. 66
912,108. 81
912,067.13
911,998.90
911, 969.39
$163, 988.72
60, 639.84
15,228.43
7, 354. 79
3, 281. 63
2, 046. 25
5,170.81
904. 78
.2,198. 51
377.18
311.23
207.25
330.99
105.54
76. 05
57.23
45. 00
46.12
35.85
,
25.57
44.,06
18.36
138, 210. 99
.
121, 761.17
17,170. 74
8,215.93
3, 982. 56
10, 526. 85
2,136.44
5, 899. 67
864.81
618. 60 1
403.57 i
391.98
211.43
112.40
,
a3.49
'
60.20
72.45
25. 85
41.68
^
68.23
29.51
"""356, 5G6.74
22." 575" '"""*22.*57.5
1L302
8.751
1L226
7.709
L783
L081
.869
.520
.425
.252
1.128
.667
.231
.135
.641
.373
.095
.055
.068
.039
.044
.025
.043
.025
.014
.023
.012
.007
.005
.009
.007
.004
. 008
.005
.002
.003
.005
.003
.004
.007
.002
.003
60
REPORT ON T H E FINANCES.
No. 21.-
- F R A C T I O N A L C U R R E N C Y OUTSTANDING AND R E D E E M E D AND P E R C E N T AGE OF R E D E M P T I O N S , ETC.—Continued.
»
SECOND ISSUE—Continued.
•
Percentage redeemed.
Fiscal
year.
Denomination.
Twenty-five c e n t s
^
Fifty cents
*
/
1
Outstanding
a t close of
fiscal y e a r .
Redeemed
d u r i n g fiscal
year. /
Of outstanding
previous
year.
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1F83
1884
1885
1886
1887
1888
1869
$L 281, 097. 91
947, 223.11 "*"$333,'874."86' '"""26." 662'
826. 645. 07
120, 578.04
12. 730
786, 228'. 25
40, 416. 82
4.889
771,998.37
14, 229. 88
L810
763, 816. 83
8,181.54
1.060
761', 917.47
1, 899. 36
.249
753, 243. 31
8, 674.16
L138
751, 575. 67
1, 667. 64
. 221
748, 365. 79
3, 209. 88
4.271
747, 520. 34
845.45
.113
746, 916. 97
603. 37
.081
746, 638.82
278.16
.0.37
746, 200.47
438. 35
.059
745, 874.89
325. 58
.044
745,672. 44
202.45
.027
745, 518.89
153.55
.021
745,443. 76
75.13
.010
745, 350.79
92.97
.012
745, 331. 04
19.75
.003
745, 260. 84
70. 20
.009
745,195.92
64.92
.009
745,156.72
39.20
.005
1867
1868
1889
1870
1871
1872
1873 •
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1,154, 327. 58
956, 999. 98
880, 516. 28
802. 950. 08
786. 671. 83
778. 477. 98
776, 529. 00
766, 857. 50
765, 050. 50
753, 587. 75
752,750.30
751, 998. 00
751,793.90
751,241.05"
750,990.00
750, 737. 90
750, 587.15
, 750, 537.15
750, 326. 40
750, 298. 75
750,20L45
750,123.95
750, 071.15
i97,'327.'66'
76, 483. 70
77, 566. 20
16, 278.25
8,193. 85
1,948.98
9, 671. 50
1, 807. 00
11, 462. 75
837. 45
752.30
204.10
552. 85
251. 05
252.10
150. 75
50.00
210. 75
27.65
97.30
77.50
52.80
Of outstanding
first y e a r .
26." 062
9.412
3.154
LIII
.639
.148
. 677
.130.251
.066
.047
. 022
.034
. 025
. 016
.012
.006
.007
.002
.005
.005
. 003
i7.*695"
7.992
8.809
2.027
L042
.250
1.245
.236
1.498
.111
.099
.027
.073
.033
.034
.020
.007
.028
.004
.013
.010
.007
17.* 095
6.626
6.720
1.410
;710
.169
.838
. 156
.993
.072
.065
.018
.048
.022
.022
.013
.004
.018
.002
' .008
.007
.004
7.230
3.908
2.198
L143
.980
.473
1. 312
.225
.156
.083
.070
.047
-.030
.034
.017
.015
.007
.013
.009
.007
7.230
3.626
1.959
.997
.845
.404
L114
.189
.130
.070
.058
.039
.025
.028
.014
.013
.006
.011
.007
.005
THIRD ISSUE.
Tbree cents
".
•^
,
\
.
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$108,446. 31
100, 605. 05
96, 673. 09
94, 548. 61
93, 467.76
92, 551.47
92,113.64
90,905.23
90, 700.42
90, 558. 88
90, 483. 38
90, 420.12
90, 378.04
90,350. 92
90,320.24
90, 305.20
90, 291.62
90, 285. 48
90, 273.36
90, 265. 39
90, 259. 35
'
$7, 841. 26
3, 93L96
2,124.48
1, 080.85
916.29
437. 83
1, 208.41
204. 81
141.54
75. 50
63.26
42.08
27.12
30.68
15. 04
13.58
6.14
12.12
7.97
6.04
•
61
TEEASUEEE.
No.
21 v.—FRACTIONAL
CURRENCY
OUTSTANDING AND
REDEP:MEP
AGE OF REDEMPTIONS, ETC.—Continued,
AND
PERCENT-
j
THIRD ISSUE—Continued.
(
1 •,
Percentage redeemed.
Denomination.
Fiscal
year.
Outstanding
a t close of
fiscal y e a r .
Redeemed
d u r i n g fiscal
year.
1 Of outstanding
previous
1 year.Five cents . . . . . . . . . . . . . . . . . . . . . . . . . .
T e n cents
......o......
F i f t e e n c e n t s (specimens)
\
Twenty-five cents.
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879 '
1880
1881
1882
1883
1884
1885
1886
1887
1888
18c9
1869.
1870
1871
1872
1873
1874
1875
1876
1877
1878
.1879
1880 •
1881
18«2
1883
1884 ^
1885
1886
1887
1888
1889
^ 1869
1870 .
1871
1R72
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889"
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
$162, 673. 64
146, 517. 87
140, 034. 84
137, 583. 06
135, 907. 66
135, 080. 82
134, 594.70
133,109. 31
132, 893. 04
132,761.63
132, 680. 72
132, 585. 24
132, 530. 08
132, 494. 56
132, 473. 71
132, 453. 71
132, 438. 59
132,412.46
132,309.11
132, 377. 52
132, 370.44
(
'
9.'93i"
4.425
1. 751
1. 218
.608
.360
1.104
.162
$i6,"i55."77'
6, 483. 03
2,451.78
1, 675.40
826. 84
486.12
1,485. 39
216.27 t
131.41 1
80.91 1
96. 48
55.16
35.52
20.85
20. 00
15.12
26.13 j
13. 35 1
21..59
7.08
5, 055, 777.49
2, 560, 026. 93 """2,"495,'7.50."56
1, 617, 360.15
942, 666. 78
1,289,767.82
327, 592. 33.
1,162, 094. 50
127, 673. 32
1,109,791.50
52,303.00
1, 086.187. 56
23, 603. 94
1, 070, 346. 60
15, 840. 96
1, 062, 680. 20
7,666.40
1,057,430.22
5,249. 98
1, 055, 704. 02
1. 726. 20
1, 053, 723. 92
1, 980.10
1, 052, 876. 83
847. 09
1, 0.52, 410. 80
466. 03
1, 051, 938. 30
472. 50
1, 051, 754. 03
184. 25
1, 051, 567. 00
187. 05
1,051,440.36
126. 64
1, 051, 299. .57
140. 79
1, 050, 745. 98
553. .59
l,c060, 658. 90
87. 08
1, 352.40
1, 3.52. 40
1, 350. 75
1, 349. 70
1, 349. 3'2
1, 348. 57
1,347.60
1.296.98
1. 277.18 ^
1, 277.18
1, 277.18
1,277.18
1,277. 18
1, 277.18
1, 276. 94
l,-276. 94
1, 276. 94
1, 276. 94
1, 276. 94
1,276.73 ""'
1,276.73
Of outstanding
first y e a r .
.099
.061
.072
. .042
.027
.016
.015
.011
.020
.010
.016
.005
j
i
}
1
49,364
36.823
20.255
9.891
4. 509
2.127
1.458
.716
.494
.163
.188
.080
.044
.045
.018
.018
. 012
. 013
1 •
.0.53
1
.008
j
:....
1
i."65"
1.05
.38
.75
.97 1
50. 62
19.80
7, 911, 479. 85
3, 401, .545. 02 '""4," .569," 934." 83*
1, 733, 375.52
1, 668,169. 50
1, 224, 940. 27
508, 435. 25
1, 047, 357. 37
177, 582. 90
975, 873. 62
71, 483.75
945, 919. 58
29, 954. 04
927, 378. 81
18,540.77
917, 826.13
9,552.68
911, 250.85
6,575.28
49"364
18. 645
• 6.480
2. 525
1. 035
. .467
. 313
.152
. 104
.034
.037
.017
.009
.009
. 004
.004
. 003
.003
.Oil
.002
:i22'
. .078
.028
.050
' .-072
3. 755
1. 527
'"".*i22
.078
. 028
.055
.072
3.744
L464
"6i9"
"""."618
"24
.'2i"
9." 931*
3.985
1. 507
L030
.508
.299
.913
.133
.081
.056
.059
.034
.022
.013
. 012
.009
. 016
.008
.013
.004
."616
\
'.m
57." 665"
49. 042
29. 332
14. 497
6.920
3.069
1.960
1.030
.716
57." 665
-
21.085
6.427
2. 245
.904
.366
.234
.121
.083
62
No.
REPORT ON T H E
21.—FRACTIONAL
CURRENCY
FINANCES.
OUTSTANDING AND
REDEEMED
AND
PERCENT-
AGE OF REDEMPTIONS—Continued.
THIRD ISSUE—Continued.
Percentage redeemed.
Outstanding
a t close of
fiscal y e a r .
Fiscal
Denomination.
Redeemed
d u r i n g fiscal
year.
V
Twenty-five cents
'.
4
^
Fiftv cents
................
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1869
1870
1871
1872
1873
1874
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1S87
1888
1889
$907, 792. 77
905, 538. 99
904, 298. 42
90.3, 401. 39
902, 674. 08
902, 371. 09
902, 003. 60
901, 718. 48
901; 488.45
900, 770. 01
900, 609. 98
,
10,741,035.50
4, 456, 508. 25
2, 028, 741. 40
1, 291, 765. 80
1, 041, 323. 75
944, 262. 75
904, 480. 90
844,107.90
830, 748.10
822,110. 00
818, 072.95
• 812, 206. 35
810,197.15
808, 938. 86
807, 723.95
807, 220.45
806, 600.20
806,137. 75
805, 759. 60
804, 750. 50
804, 487.15
Of outstanding
previous
year.
$3, 458. 08
2, 253. 78
1, 240.57
837. 03
787. 31
302. 99
367.49
285.12
230. 03
718. 44
160.03
Of outstanding,
first y e a r .
.373
.248
.126
.093
.087
.034
.041
.031
.025
.080
.018
.044
.028
.016
.011
.01.0
-.004
. .005
.004
.003
.009
.002
. 54.262
58.509
36. 327
19. 388
9.321
4.213
6.675
L583
L040
.491
.717
.247
.155
.150
.062
.078
.057
•^.047
.125
.033
58. 509
22.603
6.861
2.332
.904
.369
.562
.123
.080
.038
. 055
.019
• 012
.011
. 005
.006
.- 004
.004
.009
. 002
•
.
6, 284, 527. 25
2, 427, 766. 85
736, 975.60
250,. 442. 05
97, 061.00
39, 781. 85
60, 373.00
13, 359.80
8, 638.10
4, 037. ,05
5,866.60
2, 009. 20
1, 2.58.30
1, 214. 90
503.50
620. 25
462.45
378.15
1, 009.10
263.35 .
',
FOURTH ISSUE.
Ton c e n t s . . .
...............
Fifteen cents
Twenty-five cents
............
1875
$2, 550.468.61
1876
1. 825, 511.30
1877
1, 533, 965. ^1
1878
1, 425, 566. 70
1879
1, 398, 841.18
1880
1, 387, 942.14
1881
1, 383, 045.05
1882
1, 380, 473.74
, 1883
1, 378, 681. 88
1S84
1, 377, 965. 68
1885
1, 377, 238. 28
1886
1, 376, 691. 24
1887 . 1. 376, 267. 76
1888
1,374,187.20
18891, 373, 923. 97
$724,957.31
291, .545.69
108,398.91
26, 725. 52
10, 899. 04
4, 897.09
2, 671.31
1. 791.86
716 -20
727. 40
547. 04
423. 48
2, 080. 56
263.23
^
28.424
15. 971
7.067
1.875
.779
.353
.186
.130
.052
.053
.032
,031
.151
. 019
28.424
11.431
• 4.250
L048
. . 427
0.196
.101
.070
.028
.029
.021
.017
.082
.010
46. 944
32. 852
17.978
5.466
2.571
.836
.384
.275
.106
.119
.055
.046
.228
.036
46. 944
17. 430
6.405
1. 598
.710
.225
.102
.073
.028
.0.31
. 015
.012
.060
.009
45.091
31.647
14.828^
4.010
L666
45.091
15.565
6.833
L34i
.536
J
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
908, 39L 17
481, 953.15
323, 624.39
265. 442.76
250,934. 00
. 244,48L83
242,437. 61
241, 507.45
240,844.26
240, 588. 23
240,302.82
240,169.68
240, 059.60
239, 512.19
239, 426. 90
426,438. 02
158, 328. 76
58,181.63
14, 508. 76 1
6, 452.17
2, 044. 22
930.16
663. 20
256.02
285.41
133.14
110.08
547.41 •
85.29
1875
• 1876
1877
1878
1879
1880
3, 315, 338. 25
1, 820,163.43
1,304,140.48
1,110,750.07
1, 066, 205.25
1,048,4^5.08
1,496,174.82
516, 022. 93
193, 390.41 •
44,644.82
17,760.17
63
TEEASUEEE.
No.
21.—FRACTIONAL
CURRENCY
OUTSTANDING
AND
R E D E E M E D AND
AGE OF REDEMPTIONS—Continued.
FOURTH ISSUE—Continued.
PERCENT-
;
. 1
1
Percentage redeemed.
Denomination.
Twenty-five cents
Fifty cents
-
....
Fiscal
year.
Outstanding ,
a t close of
fiscal y e a r .
1881
1882
1883
1884
1885
1886
1887
•1888
1889
$1,040,184.39
1,035,662.41
1,032,766.06
• 1,031,557.12
1,030,232.19
Ij 029, 032.37
1, 028, 372.46
1, 024, 705. 63
1. 024, 249.57
$8, 260.69
4,521.98
2, 896. 35
1, 208. 94
1, 324. 93
1,199. 82
659.91
3, 666. 83
456.06
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
R, 423, 039.65
3, 264. .5,56.40
1,711,324.'65
1,241,402.76
1,152, 524.10
1,114,328.55
1, 097, 930.00
1,089,127.45
1, 083,248. 75
1, 080, 328. 00
1, 077, 475. 00
1, 075, 538. 85
•1,074,261.25
1, 069, 834. 75
1,068,752.15
5,158, 483. 25
1, 553, 231. 75
469,921.90
88. 878. 65
38,195.56
• 16, 398.55
8, 802. 55
5, 878. 70
2, 920. 75
2, 853. 00
1,936.15
3,277.60
4,426. 60
1, 082.60
Redeemed
d u r i n g fiscal
year. .
i Of outstanding
previous
•year.
Of outstanding
first y e a r .
!
.788
435
.280
.117
.128
.116
.064
.,356
1
.045
.249
.136
.087
, . 037
.040
.036
.020
• .110
.014
I
1
1
61.243
44.619
27.459
•7.158
3„314
1.471
.802
.540.270
.264
.180
.119
.412
.101
61.243
18.440
6.579
1. 055
.453
.195
.105
.060
.035
.034
.023
.016
.053
.013
65.652
49.659
1 16.940
6.369
2.921
1. 557
L003
.836
!
.363
1
.223
.147
.870
.138
65. 652
16. 824
2.968
. 927
. . 398
,
.206
•. 131
.108
.046
.028
. .019
.110
.017
•
i
1
1
1
1
"
F I F T H ISSUE.
Ten cents
^,-
Twenty-five cents
Fifty cents
*"
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
$3, 866, 851.08
1, 328,188. 09
677, 626.61
562, 839. 61
526, 994. 78
511,603.24.
603, 639.87
498, 590.64
494,421.74
492, 676.94
491,576.74
490, 853. 83
486, 582.20
485, 912.18
$2, 638, 662.99
650,561.48
1,14,787.00
35, 844. 83
15,391.54
7, 963.37
5, 049.33
4,168.80
1, 746.80
1,099.20
722. 91
4, 271. 63
670.02
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
8, 649, 907.55
2,696,064.81
1,050,681.31
759, 392. 44
676, 670.12
G39,'.400.11
619,333.58
602,105. 20
595, 250.13
. 590,954.14
588, 554.52
586,896.28
582, 359.25
580, 758.17
5, 953, 842. 74
1,645,383.50
291,288.87
82. 722. 32
37, 270. 01
20, 066. 53
17, 228.38
6, 855.07
^ 4,295.99
2, 399.62
1, 658.24
4,537.03
1,601.08
• 1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
4, 090, 670.45
1, 096, 442.50
392, 936. 30
280, 508.45
235,051.75
216,359.25
206,472. 70
196,965.45
193, 963.20
191,291.20
189, 620.50
188,589.80
186,629.00
185, 651. 80
2, 994,133.96
703,506.20
112,427.85
45,456. 70
18, 692.50
9, 886.55
9, 507.25
3,002.26
2, 672.00
1, 670. 70
i,o.m70
1,960.80
977.20
;
! 68.831
! 6L029
j 27.724
10.893
1 5.608
1 3.138
i 2.782
1 1.139
.722
!
. 406
.282
.773
.275
68.831
19.022
3. 368
. 956
. 431
.232
. 199
. . 079
.050'
' .028
. 019
.052
. 019
73.196
64.163
i 28.612
16.205
7.144
1 4.570
t 4.605
-1.524
1. 326
.873
. 544
L040
1 .624
73.196
17.198
•2. 748
1. I l l
.467
.242
.232
. 073
.065
.048
.025
.048
.024
64
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 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 , F R O M T H E F I R S T Y E A R A F T E R T H E I S S U E C E A S E D .
SERIES OF 1878.
Percentage redeemed.
Denomination.
Ten dollars ;
Fiscal
year.^
One hundred dollars .
Five liundred dollars .
One thousand dollars..
Redeemed
during fiscal
year.
Of outstanding
previous
year.
Of outstanding
first year.
1883
1884
1885
1886
1887
1888
1889
$986,147.00
617, 077.00
352,117.00
216,422.00
132, 656.00
80, 330.00
52,020.00
$368,070.00
264, 960.00
136, 695.00
83, 766.00
52, 326.00
28, 310.00
37.362
42.938
38.537
38.612
39.445
35.242
37.362
26.895
13. 774
8.503
6.311
2.874
1884
1885
1886
1887
1888
1889
1,477,490.00
1. 041, 490.00
681,390.00
. 477, 776.00
329,224.00
217,480.00
144, 624.00
436, 000.00
360,100.00
203, 614.00
148, 652.00
111, 744.00
72, 856.00
29.610
34.575
29.882
3L092
33.942
33.600
29.510
24.372
13.781
10.054
7.564'
4.931
1,830; 285.00
1, 227, 585.00
828, 836.00
673, 240.00
396, 025. 00
285, 950.00
210, 750.00
602,700.00
398, 750.00
155, 595.00
278, 216.00
109,075.00
75, 200.00
• 32.929
32.482
18. 773
41.325
27.612
26.298
32,029
21. 786
8.601
15.201
6.959
4.109
1883
1884
1885
1886
1887
1888
1889
595,200.00
346, .700.00
136,600.00
270,590.00
98, 830.00
66,100.00
34.701
30.956
17.661
42.490
26.986
24.720
34.701
20.213
7.958
15.776
6.762
3.854
1883
1884
1885
1886
1887
1888
1889
560,000.00
102,000.00
221,600.00
60, 600.00
24,600.00
12,000.00
54.581
2L888
60.862
36.439
26.624
17.778
54.681
9.941
21. 589
4.922
2.388
1.170
1,569,000.00
395,000.00
1,108,000.00
98, 000.00
35,000.00
24,000.00
47.459
22.740
82.562
41.880
25.735
23.762
47.459
11. 948
33.516
2.964
1.069
.726
Twenty dollars..
Fifty dollars .
Outstanding
at close 01
fiscal year.
1883
1884
1885
1886
1887
1888
1883
1884
1885
1886
1887
1888
1889
3, 306, OOO. 00
1, 737, 000.00
1, 342, 000.00
234, 000.00
136, 000.00
101,000.00
77,000.00
65
TREASURER.
No. 2 3 . — U N I T E D
Fiscal
year.
1802
1863
1864
1865.
1866
1867
1868
1869
1870
1871
1872
1873
1874
1875
1876
1877'
1878
1879.
1880
1881
1882
1883
1884
18851886.
18S7
1888
18S9.
STATES C U R R E N C Y O F EACH ISSUE OUTSTANEJING AT T H E CLOSE
OF EACH F I S C A L Y E A R F R O M 1862 T O 1889. ;
.
Old d e m a n d
notes.
$51,105, 235. 00
3, 384, 000. 00
789,037. 50
472, 603. 50
272,162. 75
208, 432. 50
143, 912. 00
123, 739. 25
106,256.00
96, 505. 50
88, 296. 25
79, 967. 50
76, 732. 50
70,107.50
66, 917. 50
63, 962. 50
62,297.50
61,470. 00
60, 975. 00
60. 535. 00
59,695.00
58,985.00
58,440. 00
57, 950. 00
57, 445.00
67,130. 00
56, 807. 50
66, 492. 00
United States
'notes.
One and t w o
year notes
Compoundinterest
notes.
Fractional
curr|ency.
$96, 620, 000. OO
387, 646, 589. 00
447,300,203.10 $172, 620, 550. 00 $6,'060, 000 00
431,066,427.99
50, 625,170. 00 191.721,470.00
400, 780, 305. 85
8, .439, 540.50 172, 3^69, 94). 00
371,783,597.00
1, 325, 889. 50 134, 774, 981. 00
356,000,000.00
716,212.00 64, 608, 230. 00
356. 000, 000.00
347, 772. 00
3; 063,410.00
356, 000, 000. 00
253. 952. 00
2,191,670.00
356, 000, 000. 00
205, 992.00
814,280.00
178, 222.00
623,010.00
357, 500, 000.00
356, 000, 000. 00
148.15.5.00
499, 780. 00
381, 999, 073. 00
130, 805.00
429, 080. 00
375, 771, 580. 00
114,175. 00
371,470. 00
369, 772, 284. 00
331, 260. OO
105, 405. 00
359, 764, 332.00
96,285.00
300, 260. 00
346,681,016.00
274, 780. 00
90,476.00
346,681.016.00
260, 650. 00
86, 845. 00
346, 68i; 016.00
• 82, 815. 00
243,310.00
346, 681, 016. 00
80,715.00
235,-280.00
346, 681, 016. 00
77,125. 00
223, 560.00
346,681,016.00
71,915.00
214, 770.00
346,681,016.00
211, 790. 00
71, 335.00
346, 681, 016. 00
204, 970. 00
68, 585. 00
346, 681, 016. 00
66,755.00
199, 660. 00
346,681,016.00
65, 646. 00
193, 310.00
346; 681, 016. 00
189, 860. 00
63, 845. 00
346, 681, 016. 00
186, 030.00
63,105. 00
1
$20, i 92* 456. 00
22,324,283. 10
25,0331128.76
27, 008', 875. 36
28, 474- 623. 02
32, 727|, 908. 47
32,114!, 637. 36
39, 878, 684.48
40, 582', 874. 56
40,855,835.27
44, 799, 365.44
45, 912!, 003. ;-^4
42,129, 424.19
34, 446, 595. 39
20,4021,137. 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, 025. 85
15, 322, 902.70
15, 2Qi 582.15
15. 292, 628. 80
Total.
$147, 725, 235. 00
411 223 045 00
649, 094, 073. 70
698,918,800.25
608, 870, 825. 46
536, 5()7, 523. (»2
444,196,202.47
391,649,5.-^S.Gl
39S, 430, .n«i2. 48
397, 090. 6.52.06
3S9, 245, 363. 52
401, 527i 267. 94
428, 547. 693. 84
418, 4.56, 756. 69
404, 7'2. 461.89
380,627,976.84
363, 656, 337. 27
302. 932, .591.11
362, 659, 008. 70
362, 539, 437. 65
362, 464, ,582.10
362, 403, 315.14
362, 378, 580. 64
362, 352, 635. 21
362, 354, 901. 85
362, 320, 003. 70
362, 290.1! 0.65
362,279,222.30
NOTE.—The difference between this and other statements of the Treasurer's! reports and the public
debt statements in the amounts of one and two year notes and compound-interest notes outstanding,
is due toj the fact that the Treasurer's statemenis are compiled from the reports of destructions, while
the debt statements are made up from the reports of redemptions, 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 difference on JTune 30, 1889 :
' t
1
^
One a n d t w o Compound-inyear notes.
terest notes.
i
i
On h a n d n n d e s t r o y e d a t be^'inning of t h e fiscal y e a r
Redemxjtion d u r i n g t h e fiscal y e a r
Total
D e s t r o y e d d u r i n g t h e fiscal j - e a r :
A c c o u n t of r e d e m p t i o n s d u r i n g t h e fiscal y e a r 18*^8
On h a n d u n d e s t r o v e d J u l y 1, 1889
5
$230
3,780
1 ?^^
4,010
20
720
160
230
3,600
180
900
4,010
.
1
j
•.
Total
Fi89-
$20
880
.
66
KEPORT ON T H E FINANCES.
No. 24,—SILVER 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 S E R I E S
AND
DENOMINATIONS.
Issued.
Redeemed.
Series a n d denomination.
During
fiscal y e a r .
T o J u n e 30,
1889.
Series of 1S18.
T e n dollars
T w e n t y dollars
Fifty dollars
One hundred dollars
F i v e liundred d o l l a r s
One t h o u s a n d dollars
$2, 274,000
2, 746, 000
• 3,2.50,000
3, 540, 000
4, 650, 000
14,490,000
Total
•
During
fiscal year.
30, 950, OOU
T o J u n e 30,
1889.
Outstanding
J u n e ."{0,
1889.
$28,310:00 $2,221,980.00
72, 856. 00
2,601.376.00
75, 200. 00
3, 039, 250. 00
66,100.00
3, 338, 700. 00
12, OOU. 00 4, 594, 500. 00
24, 000. 00 14,413.000.00
$52. 020.^00
144,6-24.00
278, 466. 00
741,194.00
0 1 ( 1 r r . i ) i)i\
901 '^()() 00
55. 500. 00
77, 000. 06
30, 208,806. 00
Series of 1880.
86, 000,
80, 76.-,,
8, 800,
10, 600,
9, 000,
9, 000,
One h u n d r e d dollars
l^'ive l i u n d r e d d o l l a r s
One t h o u s a n d d o l l a r s
000 10, 958, 006. 00
000 8, 806, 368. 00
000
857, 590. 00
000
661, 380. 00
000
122,000.00
000
71, 000. 00
56, 430, 926. 00 29, 569, 074. 00
46, 023, 688. 00 34 7i}6 3 f 00
5,551,940.00
.3,248,000.00
8,.475, 480. 00
2,124, 520. 00
8, 709, 000. 00
291,000.00
8, .850, 000. 00
150,000.00
204,100, 000 21, 476, 344.00 134, 041, 034. 00
Total
70,118,966.00
1.
,^67-165 0/1886.
On6 dollfir
T w o dollaia
F i v e dollars
..«..•...
T w eii tv d o l l a r s
Total
$8, 772, 000 37,100, 000
5, 800, 000 25, 200, 000
38, 540, 000 91, 000, 000
20.480. 000 61, 000, 000
160, 000
240,000
7, 595, 632. 20
4,1.09,5/2.80
4, 570,120. 00
2, 522, 571. 00
11, 320.00
9.192, 028. 20 27, 907, 971. 80
4, 962, 334. 80 20; 237, 665. 20
5, 420, 260. 00 85, 579, 740. 00
3,184,471.00 *>? 8 1 5 'S99 0 0
11, 320. 00 •
228, 680. 00
73,752,000, 214, .o40, 000 18,859,216.00
22, 770, 414.00 191, 769, 586. 00
73,752,000 449, 650, 000 40, 614, 026.00 187, 020, 254. 00 262, 629, 746. 00
No.
25.—GOLD C E R T I F I C A T E S ISSUED,
AND
REDEEMED,
AND OUTSTANDING, B Y S E R I E S
DENOMINATIONS.
Issued.
Redeemed.
Series a n d d^enomination.
During
During
fiscal y e a r . T o J u n e 30.1889. fiscalyear.
Act M a r c h 3,, 1863.
T w e n t y dollars
,
• O n e hrindred 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
Accoaut Geneva a w a r d . . .
Total..
T o J u n e 30,1889.
$960, 000. 00
20,234,300^.00
32, 844, 000. 00
121, 881,000. 00
457, 885, 000. 00
314, 330, 000. 00
33, 000, 580.46
$100
. 28,100
37, 500
133,000
340, 000
1, 510, 000
$9.59, 720. 00
20, 213. 200. 00
32, 826, 500. 00
121, 820, 000. 00
457, 850, 000. 00
31.4,180, 000. 00
33, 000, 580. 46
981.134, J 1.46
2, 048, 700
980, 850, 000. 46
Act J u l y 12, 1882, series 1882.
• 20,080,000.00
T w e n t v dollars
,
17, 800,000. 00
F i f t y dollars
20, 000,000.00
OiiH'hnndred d o l l a r s ,
$2, 000, 000
24, 000,000.00
F i v e h u n d r e d dollars
6, 000, 000
46, 000,000. 00
One t h o u s a n d dolla.rs
12, 000, 000
54, 500,000.00
F i v e t h o u s a n d dollars
11, 000, 000 126, 000,000. 00
T e n t h o u s a n d dollars
Outstandntr J u u e 3 0 ,
^ 1889.
1, 982, 798
1,801,800
1, 993, 800
• 3,198, 000
10,154, 500
15, 260, 000
27, 950, 000
9,101,178. 00
9, 356, 650. 00
8, 374, 000. 00
12, 942. 000. 00
24,847,500.00
34, 270, 000. 00
101,140, 000. 00
$280
21,100
17, 500
61, (100
35, 000
150, 000
10. 978, 822
8, 443, 350
11, 626, 000
11, 058, 000
21,152. 500
20, 230, 000
24, 860, 000
31, 000, 000
306,380,000.00
62, 340, 898
20b, 031, 328.00
108, 348, 672
Act J u l y 12, 1882, series 1888,
18,155, 000
Five thousand dollars
30,120, 000
Ten thousand dollars.
18,155, 000. 00
30,120. 000. 00
1, 420, 000
1,440, 000
1,420, 000. 00
1,440, 000, 00
16, 735, 000
28, 680, 000
Total.
Total,
48, 275, 000
48, 275, 000.00
1,000
2, 860, 000.00
45, 415. OOQ
Aggregate.
79,275,000
1, 337, 789, 880.46
67, 249, 598
1,183, 741, 328.46
164, 048, 553
67
TREASURER.
No.
2 6 . — U N I T E D STATES C U R R E N C Y I S S U E D , RKDEI^MED, AND ;OUTSTANDING, B Y
DENOMINATIONS, AT T H E CLOSE O F T H E F I S C A L YEAR 1889.
Old d e m a n d n o t e s .
United States notes.
Denomination.
Issued.
Redeemed. Outstanding.
•
•
i. •
Redeemed.
Issued.
•
Outstanding.
i
One dollar
..........
$183,688,160 $179, 9^3, 632.10 $3, 714, 527. 90
Two d o l l a r s . . . . . . . . . . .
181,491,048 178,139,754.40 3, 351, 293.60
Fivft d o l l a r s
$21,860,606 $21,777,412.50 $22, 587. 50 375, 261,'760 N 316, 9^6, 799. 50 58,334, 960. 50
T e n dollar's
20, 030,000 20, 009,'265. 00 20, 735. 00 368, 091, 240 281, 50'6, 987.00 86, 584, 253.00
18, 200, 000 18,186, 880. 00 13,120. 00 333, 242, 400 239, 829, 154. 00 93,413,246.00
T w e n t y dollars
121.615,200 • 97, 372, 785. 00 24,242,415.00
Fifty dollars
One h u n d r e d dollars
146, 704, 000 111,89,5,180.00 34, 808, 820. 00
F i v e h u n d r e d dollars
184, 276, 000 169, 77,6, 500. 00 14, 499, 500.00
One t h o u s a n d d o l l a r s .
299, 6^28, 000 270,941,000.00 28, 687, 000. 00
Five thousand dollars.
20, 000, 000
19, 965; 000.00
35, 000. 00
Ten thousand dollars
40, 000, 000
39, 99j0, OOOj'OO
10, 000. 00
Unknown, destroyed
i n Chica'^o
fire.....
1,00|0, 000. 00
i
D e d u c t u n k n o w n destroyed
Total
...
. •
"•^**"i
.
347, 681, 016. 00
1,000, 000.00
. 0 60,030,000 59,973, 557. 50 56,442. 50 2, 253, 997, 808 1 907 316 792.00 346, 681, 016. 00
Silver certificates.
Gold [certificates.
Denomination.
Issued.
O n e dollar
T w o dollars
.^
l i v e dollars
'.
T e n dollars
Qlwenty dollars
3i"ifty dollars
Onehundred dollars..
F i v e hundred dollars.
One thousand dollars.
Five thousand dollars.
T e n thousand dollars.
Account
Geneva
award
i....
Total.
$37,100,
25, 200,
91, 000,
149,274,
.83,746,
12,050,
14,140,
13, 650,
23,490,
Redeemed.
Outstanding,
192, 028.20
962, 334.80
420, 260.00
837, 377. 00
636, 384.00
591, 190. 00
814, 180.00
303, 500.00
263, 000.00
Issued.
907,971.80
237, 665. 20
579, 740. 00
436, 623.00
109,616.00 $20, 080, 000.00 $9,101,178.00 $10,978, 822
458,810.00 17, 800, 000.00 9; 356, 6,50. 00 8,443, 350
325, 820. 00 20, 000, 000.00 $, 374, 000.00 11,626, 000
346, 500. 00 , 24, 000, 000. 00 12, 942, 000.00 11, 058, 000
227, 000. 00 46, 000, 000.00 24, 847, 500. 00 21,152, .500
54,500,000.00 34, 270, 000. 00 20, 230,000
126, 000, 000.00 lOi, 140, 000.00 24, 860, 000
33, 000, 580.46 33, 000, 580.46
449,650,000 187, 020,254.00 262, 629, 746.00 341,380,580.46 233, 031, 908. 46 108,348,672
One-year n o t e s of 1863.
T w o - y e a r n o t e s of 1863.
Denomination.
Issued.
T e n dollars
T w e n t y doUars
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 thousand dollars
Unknown
Redeemed.
$6, 200, 000 $6,193,166
16,440, 000 16,425,440
8, 240, 000 8, 233,400
13, 640, 000 13, 633,400
Outstanding.
$6,835
14, 560
.6,600
6,600
I
' Issued.
Redeemed. •
$12, 705, 600
24,164, 400
40,302, 000
89. 308, 000
$12, 697, 500
24,153,900
0, 300, 600
89, 289, 000
10. 600
^34,506
$8.100 .
10,500
1, 600
19,000
39,100
90
44,620, 000 44,485,496
Outstanding.
I
34.596
D e d u c t u n k n o w n destroyed
Total.
Outstanding.
Redeemed.
10, 500
1§6,480, 000
166,461,400
28,600'
68
No.
REPORT
ON T H E FINANCES.
2().—Ui^fiTED 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, B Y
DENOMINATIONS, AT T H E CLOSE O F T H E FISCAL YEAR 1889—Continued.
Compound-interest notes.
1
Aggregate.
^
Denomination.
Issued.
Redeemed.
One dollar
T w o dollars
F i v e dollars
T e n dollars
$23, 285,200 $23,260, 990
30,125, 840 30, 087, 370
T w e n t y dollars
Fifty dollars.
60, 824, 000 60, 754,650
One h u n d r e d dollars . . 45, 094, 400 46,058,900
F i v e h u m l r e d dollars . 67, 846, 000 67, 833, 500
O n e t h o u s a n d dollars . 39,420, 000 39,414, 000
Fivo thousand dollars.
T e n t h o u s a n d dollars.
Account Geneva
award
Unknown, destroyed
i n C h i c a g o tire
U n k n o w n destroyed . .
Outstanding.
Issued.
$24, 210
3-', 470
69, 350
35, 600
12, 500
6,000
\
$220, 788,160. 00
206, 691, 048.00
• 488, 061. 760. 00
566, 880,440.00
502, 794, 240. 00
233, 234, 800. 00
283, 977. IQO. 00
362, 918, OOO. 00
. 619, 727, 000.00
550,540, 000. 00
610,450,000. 00
Redeemed.
Outstanding,
$189,165, 660. 30 $31-, 622,499.70
183,102, 089.20 23. 588. 9.58. RO
344 124,472.0014f^ «S7 2SK no
392, 807, 784. 00 174, 072, 656.00
363, 226,1.26.00 139, 568.114.00
197,006,175.00 36,228, 625.00
235,142,760.00 48, 834,340.00
336, 982, 500.00 25, 9'35, 500. 00
569, 574, 500.00 60,152, 500. 00
613, 505, 000.00 37,036,000.00
456, 750, 000. CO 53, 700, 000. 00
33,000,580.46
33,000,680.46
,
•
1, 000, 000. 00
10, 590. 00
764, 675,481. 50
D e d u c t u n k n o w n destroyed
1, 010,690. 00
'
266, 595,440 266,409,410 .. 186, 030 4, 579, 063,128.46 3,815, 398,236. 96 763, 664,891.60
Total
No. 27.—AMOUNT AND PERCENTAGE ~ OF TOTAL OUTSTANDING O F E A C H DENOMINATION OF U N I T E D STATES NOTES, GOLD C E R T I F I C A T E S , ACT O F J U L Y 12, 18»2,
AND S I L V E R C E R T I F I C A T E S , AT T H E CLOSE O F EACH F I S C A L Y E A R FROM 1878 TO
1889,
INCLUDING 11,000,000 O F UNKNOWN DENOMINATIONS O F U N I T E D STATES
NOTES DESTROYED.
.
U n i t e d States^notes.
Gold certificates.
S i l v e r certificates.
Tofal.
Denomination.
Aniount.
Pr.ct.
$20, 929, 874.30
20, 910, 948. 20
64,669,556.50
65, 551, 644. 00
62, 720, 643. 00
27,182, 680.00
31, 624, 670. 00
30, 878, 600.00
33.212, 500.00
6.02
6.01
15.73
18.85
18.04
7.82
9.10
8.88
• 9.56
Amount.
Pr.ct.
Amount.
Pr.ct.
Amount.
Pr.ct.
1878.
Is
2s
5s
10s
20s
508
lOOs
500s
1 000s
5 000^
10 000s
347, 681, 016. 00 100. 00
Total
. $123, 220.00
10, 240. 00
13, 250. 00
179, 700.00
268, 000. 00
1,256, 000.00
$20, 929, 874. 30
20, 910, 948. 20
54,669,556.50
6.68 65, 674, 864. 00
.65 62, 730, 883.00
.72 27,195, 920.00
9.71 31, 804, .370.00
14.48 31,146, 500.00
67.88 34, 468, 500. 00
5.98
5.99
15.64
18. 79
17.95
7.78
9.10
8.91
. 9.80
1, 850,4:10. 00 100.00 349. 531,426.00 100.00
1879.
Is
2s
6s
lOs
20s
503
100s
600s
1 000s"
5 000s
10 OOOs .:
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. 00
35, 070, 500.00
4, 000, 000.00
2, 960, 000.00
..
5.24
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
54,107.113.00
64, 802, 392. 00
60, 566, 307.00
25, 668, 340.00
32, 514,180.00
33,069, 500.00
36, 230, 500. 00
4, 000,000.00
2,960, 000. 00
5.20
5.17
15.45
18.50
17.29
7. 33
9.28
9.44
10.35
L14
.85
2, 539, 950. 00 100.00 350, 220, 966. 00 100.00
69
TREASimilE.
N o . 2t.—AMOtJNl' A N D l*ERCfiNfAGE OF TOTAL OUTSTANDING b F EACH
NATION OF U N I T E D S T A T E S N O T E S ,
United States notes.
ETC.—Continued.
Silver certificates.
Gold c e r t i f i c a t e s .
Amount.
Pr.ct.
Amount.
Pr.ct.
Amount.
Prjcfc.
1880.
Is
..-.-
• 2s
Total,
-^j
!
Denomination'.
5s 10s
20s
50s....
100s
500s
1,000s
• 5,OOOs..
10,000s
Total.
i
$20, 332, 332. 00 5.86
20, 352, 813. 00 5.85
65,432, 548. 00 18.82
74, 916. 751. 00 21.55
72,143,207.00 20.75
24, 808, 995. ( 0 7.12
32, 797, 870. 00 9 43
1.9, 224, 000.00 •5.53
16, .532, 500.00 • 4.76
680,000. 00
.20
460, 000. 00
.13
1
4. :
$2,147, 340.00
J...
17,. 35
1,974, 880.00 15.96
1,328,950.00 id. 74
1, 904, 600. 00 15.39
1,229, 500. 00 Q.94
3, 789, OOa. 00 30.62
...1....
Amount.
$20, 332, 332. 00
20,3^2,81.3.00
65,432, 548.00
77. 064, 09i. 00
74,118, 087.00
26,137,945.00
34, 702,470. 00
20,453, 500.00
20, 321, 600. 00
680, 000. 00
460,000.00
Pr.ct.
' 5'. 65
5.65
18.17
21.40
20.59
7.26
9.64
5.68
6.64
.19
.13
1
12, 374, 270.00 100.00 360,055,286.00 100. 00
347, 681, 016.00 100. 00
188L
'
Is
2s
5s
10s
20s
.50s
300s
500s
1,000s
b,OOOs
10,000s
•
...L..
22.045,761.60 6.51
22,244,122.40 6.40
69, 569, 078.00 20.00
76,1K)0, 387.00 22.14
72 271 .597.00 90 70
23, 702,'910.00' 6.82
32, 947, 660. 00 9.4H
14, 570, 000.00 4.19
12, 024, 500. 00 3.46
455, 000. 00
.13
260, 000.. 00
.08
Total
j
•
20, 367, 030. 00 39.81
18,162,100. 00 35. 50
3,481,600.00 6.80
4, 029, 300. 00 7.87
1,646, 600.00 3.22
3,480, 000.00 6.80
i
1
347,681,016.00 lO'0.00
"'U'
22, 645, 761. 60
22, 244,122.40
69,669,078.00
97,357,417.00
90,433, 697. OO
27,184. 510. 00
36,976, 960. 00
16, 216, 600. CO
15, 504, 500. 00
455, 000. 00
260, 000. 00
5.68
5.58
17.44
24.41
22.67
6.82
9.27
4.07
3.89
.11
.06
61,166,530.00 100. 00 398, 847, 546.00 100.00
1882.
Is
'JS
5s
10s
20s...
5Js
100s
500s
1,000s
.5,000s
10,000s
25, 720, 953.60 7.40
24, 623, 625.40 7.08
67; 342, .540.00 19.37
72, 784, 766.00 20. 93
68, 657,47LOO 19.75
24,191, 770.00 6.96
34,469, 390. 00 9.91
14, 876, 000.00 4.28
12, 335,500. 00 3.55
420, 000. 00
.12
2,260, 000.00
.65
Total
([ ^
::::::
29, 245,720.00 44.25
24, 960, 240. 00 37.76
3,283, 550.00 4.97
4, 020, 700.00 6.08
1,734, 500.00 2.63
2, 852,000.00 4.R1
25, 720, 953. 60 6.22
24, 622,625.40 5.95
67, 342, 540.00 10. 27
102, 030,486. 00 24.66
93, 617, 711.00 22.63
27,475,320. 00 6.6438, 490, 090.00 9.30
16, 610, 500.00 4.01
15,187, 500.00 3.67
420, 000. 00
.10
2,260,000. 00
.55
66,096, 710. 00 10 ).00 413,777,726.00 100. 00
347, 681,016.00 100.00
1883.
27,736,4 J6. 80 5.38
27, 736,456.80 7.98
25, 524, 394.20 4.96
25,624,394.20 7.34
71,150, 085.00 13.81
71,150,086.00 20.46
72, 732, 886. 00 20.92
36,887,892.00 4 fi:^ 109,620,778.00 2 L 2 8
62, 346,909.00 17.93 $9,162,900.00 11.62 36,152, 784.00 39.67 106,662, 593.00 20.70
23,985,895. 00 6.90 9, 060, 800. 00 n . 4 7
3,996, 936. 00 4.51 37, 033,630. 00 7.19
34,302,390.00 9.87 8, 764,400. 00 11.11 5, 247, 220. 00 5.92 48,314,010.00 9.38
15, 098, 500.00 4.34 8,042, 000.00 10.20 2, 526, 000. 00 2.85 25, 666,600. 00 4.98
14,328,500.00 4.12 12, 650, 000. 00 16.04 4, 806,000. 00 5.42 31,784,500.00 6.17
7, 280, 000.00 1.41
315,000.00
.09 6. 965, 000. 00 8.83
24,400,000.00 4.74
160, 000.00
. 0 5 24, 240, 000.00 30.73
Is
2s
5s
10s
20s . . . . .
50s
lOOs.t
:.:
500s
1,000s
.5, OOOs
10,000s
1
§47,681,016.00 100.00 78, 875,100.00 100.00 88, 616,831.00 100.00 515,172, 947.00 100.00
Total.
1
1884.
Is
2s
5,s
10s
20s
50s
100s
vv
500s
1,000s
5,000s
10,000s
i
.. .
..
Total
.
26,660.184.80 - 7.67
24,897, 886.20 7.16
75, 552, 915. 00 2 L 7 3
69, 527, 016. 00 20.00
58, 054, 629. 00 16.70
23,208,895.00 6.68
33,640,990.00 9.68
16, 914, 000. 00 4.86
19, 034, 600. 00 5.48
130, 000.00
.03
60,000. 00
.01
11
26, 660,1«4.80 4.72
24,897,886.20 4.41
75, 552,915.00 13.39
39.28 117,017,728.00 20.74
119,
273,913. 00 21.13
39.69
5.21 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 L 8 9
30, 440, 000.00 5.40
1
13, 354, 760.00
9,119, 000.00
9,103,700.00
8, 701, 500. 00
14, 559, 000. 00
10, 660, 000. 00
30, 380, 000. 00
47,490,712.00
13:94 47, 864, 524. 00
9.62 6,293, 635.00
9.51 8,139, 320.00
9.09 4.377, 500. 00
15.20 6,726, 000.00
U.02
3L72
347,681,016.00 100.00 95,777, 960. 00 100. 00 120,891,69L00 lOi ).00 564,350,667.00 100. 00
10
No.
R E P O R T ON T H E FINANCES.
27.—AMOUNT AND P E R C E N T A G E
OF TOTAL OUTSTANDING OF E A C H
DENOMI-
.NATiON OF U N I T E D STATES NOTES, ETC.—Continued.
United States notes.
G o l d certificates.
Silver certificates.
Total. .
Denomination.
Amount.
1885.
Is
2s...
5s
10s
20s
50s
100s
500s
1,000s
5,000s
10,'OOOs. .
$24, 952, 061. 80
25,295, 069. 20
75, 997, 805. 00
64, 539, 386. 00
55,126, 509. 00
23,459, 895. 00
32, 896, 790. 00
16, 657,000. 00
28, 716, 500. 00
100, 000. 00
40, 000. 00
.'
Total
. 1886.
Is
2s
6s
]03
•
20s..
50s
100s
.500s
l.OOOs
5,000s
10,000s
Amount.
Pr.ct.
7.18
7.28
21.87
18.56
15.86 $12, 343, 760. 00
6.76 10, 443, 800.00
9.47 9, 527, 800. 00
4.77 14,120, 500. 00
8.26 22,120, 000.00
14, 086, 000. 00
56,120, 000. 00
Pr.ct.
Amount.
$51, 747,127.00
8.96 52, 010, 964.00
7.68 7,654,035.00
6.92 9, 878, 520.00
10.26 8, 910, 000. 00
16.06 9, 701, 000. 00
10.22
40.01
Pr.ct.
Amount.
$24, 952, 06L 80
25, 295, 069.20
75, 997, 805. 00
86.99 116,286, 513. 00
37.18 119, 481,233.00
5.47 41, 557, 730. 00
7.06 52, 303,110. 00
6.37 39, 587,500. 00
6.93 60, 537, 500. 00
14,185, 000. 00
65,160, 000. 00
Pr.ct.
3.99
4 04
12 15
18.60
19.11
6 65
8.36
6 33
9. 68
2.27
8 82
, 347, 681, 016.00 100. 00 137, 760, 860.00 100.00 139,901,646.00 100.00 625,343, 522. 00 100. 00
.0'
17, 603-, 922.40 , 5 . 0 6
18, 204, 369. 60 6.24
85, 629, 219. 00 24.63
66. 658, 661. 00 19.18
55; 078, 379. 00 16.84
23, 291,265. 00 . 6.70
. . . ' . . 31, 359, 700. 00 9.02
1.2, 424,000. 00 3.68
37, 361, 500.00 10. 75
•..
60, 000. 00
10, 000. 00
Total...
17, 603, 922.40 2 97
18, 204, 369.60 3 07
85,629,219.00 14 45
43.34 116, 928, 048. 00 19 .74
38.76 112,012,477.00 18 91
6.37 40, 394, 060. 00 6 82
8.29 49, 914, 420. 00 8.43
1. 58 27. 629, 600. 00 4.66
L 6 6 57, 559, 500. 00 9.72'
13,490, 000. 00 2 28
63, 040, 000. 00 8.95
1
v50, 269, 387. 00
"ii,*976,"476.'6o '"9.'30 44,957,628. 00
9, 717,955. 00 7.56 7,384,840.00
8,943,900.00 6.95 9, 610, 820. 00
13,370, 500.00 10.38 1,835,000.00
18,278, 000. 00 14.20 1,920,000. 00
13, 430,000.00 "10.43
'63, 030, 000. 00 41.19
347,681,016.00 100. 00 128, 746, 826.00 100.00 115, 977, 676. 00 100. 00 592,40.5,516.00 100. 00
1887.
^
Is
2s.
5s
10s
20s
50s
1003
500s
1,000s.....
5.000s
10,0008
8,797,376. 50 2.53
13, 979,496.10 9.60 22, 776, 872.60 3.72
8,905,996.40 6.12 17, 914, 568.40 2 93
9, 008, 572.00 2.59
7, 728, 241. 50 6.31 102, 793, 092. 00 16 79
95, 064, 860. 50 27. 34
54, 200, 870. 00 37.24 134,572,341.00 21.98
80,371,471.00 23.12
63,929,36L00 18. 39 10.871,662.00 9.13 50, 629, 016. 00 34.79 125,430, 039. 00 20.48
21,908,985.00 6.30 8, 225, 355. 00 6.91 5.196,100. 00 3.57 35, 330,440. 00 5. 77
29, 643,400.00 8.53 7, 902,100. 00 6.63 3,713,430. 00 2.55 41,254,930.00 6.74
669, 000. 00
.46 20, 343, 500.00 3.32
'... 7, 704, 500. 00 2.22 11,970,000.00 10.05
521,000.00 ' .36 48, 890, 500. 00 7.98
31,197, 500. 00 8.98 17,172, 000. 00 14.42
10.75
12,
810,
000-.
00
12, 855. 000.00 2.10
45, 000. 00
60,160,000. 00 42.11 .
50,170. 000. 00 8.19
10, 000.00
Total
347, 681, 016. 00 100. 00 119, 111, 117.00 100.00 145, 543,150. 00 100.00 612,331,283.00 100 00
1888. .
Is
....•
2s.:.. .... .
5s
10s
20s:.... .. .
50s
100s
500s.
1, OOOs
.
. ..
5 OOOs
10, OOOs.
Total
5,180, 232. 50
4, 976, 936. 00
81. 054,872. 50
86, 264, 401. 00
84, 813, 924.00
21,870,550.00
31,104,100. 00
8,068, 000. 00
24, 303, 000. 00
35, 000. 00
10, 000.00
1.49
1.43
23 32
24.81
24.40
^6.29
8.95
2.32
6.99
12,961,620. 00
10, 245,150. 00
13, 619, 800. OC
12, 256, 000. 00
25, 307, 000. 00
23, 490, 000.00
41,810, 000. 00
9.28
7.33
9.75
8.77
18.12
16.82
29.93
26, 731, 604. 00
18, 597, 238.00
51, 609, 860. 00
,80, 465, 510. 00
43, 840,160. 00
4,391,600.00
3, 053, 300. 00
480, 500. 00
322, OOQ. 00
11.65
8.10
22.49
35.06
19.10
L92
L33
.21
.14
31,911, 836. 50
23, 574,174. 00
132, 664, 732. 50
166, 729, 9 n . 00
141,615,704.00
36, 507, 300.00
47, 777, 200.00
20, 804, 500. 00
49, 932, 000. 00
23, 525, 000.00
41, 820,000.00
4.45
3.29
18. 51
23.26
19.76
5.09
6.66
2.90
6.97
3.28
5.83
347, 681, 016. 00 100. 00 139. 689, 570. 00 100. 00 229, 491, 772. 00 100. 00 716, 862,358.00 100. 00
1889.
Is
2s
6s
10s..
20s
60s
•.
100s
600s.....
1,000s
5,000s
10 OOOs
Total
3, 714,527. 90 L 0 7
.97
3, 351,293.60
58, 334, 960. 50 .16.78
86,584, 253. 00 24.90
93,413, 246. 00 26.87
24,242, 415. 00 6.99
34, 808, 820. 00 10.01
14,499,500.00 4.16
28, 687, 000.00 8.25
35, 000.00
,...
10, 000. 00
io,'978,'822:66
8, 443, 350. 00
11,626,000.,00
11,058, 000. 00
21,152, 600. 00
20,230, 000. 00
24, 860,-000. 00
io.'ii?
7.79
10.73
10.20
19.63
18.68
22.94
27, 907,971.80
20, 237, 665.20
.85, 679, 740. 00
87, 436, 623.00
35,100.616.00
3,45a, 810. 00
2. 325, 820. 00
346. 500.00
227, 000. 00
10.63
7.71
32.69
33.30
13.34
1.32
.89
.14
.08
31, 622,499.70
23,588,958.80
143,914; 700.50
174, 020, 876. 00
139, 501, 684. 00
36,144, 575. 00
48, 760, 640. 00
25, 904, 000.00
50, 066,500. 00
20, 265, 000. 00
24, 870, 000. 00
4.40
3.29
20.00
24.21
19.42
5.03
6.79
3.61
6.97
2.82
3.46
347,681,016.00 100. 00 108,348, 672.00 100..00 262, 629,746.00 100. 00 718, 659, 434. 00 100. 00
71
TEEASUEEE.
No. 2 8 . — S E V E N - T H I R T Y NOTES I S S U E D ,
R E D E E M E D , AND QUTSTANDING
Redeemed, i
Total issued.
Issue.
T o J'uno 30,
D u r i n g fiscal
year.
J u l y 17,1861 . A u g u s t 15,1864
J u n o , 15,1865..J u l y 15,1865...
$140, 094, 7r.O
299,99.', 500
331.000,000
199,000,000
$140,083,930
2^9,941,030
330, 9G6, (iCO
198, 950, 050
Total....
970, 087, 250
969, 043, 150
$700
550
1,550
T o J u n e 30,
1889.
Outstanding
J u n e 30,1889.
$140; 083, 950
299,! 942, 350
330] 967, 450
5 98J952,-.iOO
$10, 800
50,150
32,550
47, 800
969.1 945, 950
141, 300
No. 2 9 . ^ C O U P O N S 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 DURING
THE F I S C A L Y E A R ltfd9, C L A S S I F I E D B Y LOANS.'
,,
Amount.
T i t l e of loan.
Bonds:
L o a n of J u l y a n d A u g u s t , 1861
6-203 of 1862
10-40.sof 1864
5-20s of 1865
Consols of 1865
Con.sols of 1807
Consols of 1.868
$1,314.00
613. 50
375. 00
6.00
289. 50
306.00
153. 00
T i t l e of loan.
Boncls:
F u n d e d lonu of 1881
1....
F u n d e d loan of 1801
i
F u n d e d loan of 1907 j . . . .
Interest notes:
|
S c v e n - l l J i r t i e s o f 1804 a n d 18G5.
$338.13
1,433,635.10
,4,158,966.50 ,
70. 64
Total.
5, 506,073. 37
.No. oO.—NUMBER AND AMOUNT OF CHECKS ISSUED F O R I N T E R E S T ON R E G I S T E R E D
BONDS O F T H E U N I T E D STATES DURING T H E F I S C A L Y E A R 1889.
T i t l e of l o a n .
F u n d e d loan of 1891
F u n d e d lo.an of 1907
Number,
36,
139,
,
No. : U . — I N T E R E S T
•....;...
$6, 82t5, 832.51
23, 758, 722. 00
5, 824
4, 321
30, 585, 554. 51
3, 877, 410. 72
ISO, 145
34, 402, 965. 23
Total
;
B o n d s i s s u e d t o Pacific r a i l w a y
Total
Amount.
ON 3.65 P E R C E N T . BONDS OF TI-IE D I S T R I C T O F COLUMBIA
P A I D DURING T H E F I S C A L Y E A R 1889.
i
"Where paid.
Troasui'Y United States, TVaahington
.
Sub-treasury United States, New York
Total
Coupons.
Cfiecks.
$18,055.39
61,133.85
• 1 .
$46, 759. 60
39j5, 597. 75
79,189. 24
•
440, 357.35
" 1
Total.
$64, 814. 99
454, 73LOO
519, 546. 59
No. 3 2 . — R E F U N D I N G ^,CERTIFICATES I S S U E D UNDER T H E ACT.bF F E B R U A R Y
1879, C O N V E R T E D INTO BONDS OF T H E F U N D E D LOANI OF 1907.
26,
Converted. 1
Issued.
Payable to order
Pay.able t o b e a r e r
Total .
Outstanding.
T o J n n e 30,
1888.
During
fiscal
year.
T o J u n e 30.
1889.
$58, 500
39, 954, 250
$58, 080
39, 8.16, 620
$18,410
" $.58,080
39, 835, 030
$420
119,220
40, 012, 750
39, 874, 700
18,410
39, 893,110
119, 640
72
REPORT ON T H E FINANCES.
No.-33.—TOTAL
AMOUNT O F U N I T E D ^STATES B O N D S R E T I R E D F O R T H E S I N K I N G
F U N D FROM M A Y , 1869, TO J U N E 30, 1889.
T i t l e of loan.
F r o m M a y , D u r i n g fiscal
1869, t o
year.
J u n e 30,1888.
How retired.
'.
$10,612,000
2, 000
$10, 612, 000
2,000
Loan of F e b r u a r y , 1861
Purchased
Redeemed
Total
10, 614,000
Oregon w a i ' tlebt
Purchased
Redeemed
256, 800
100
$1,150
256, 900
Total
L o a u of J u l y a n d A u g u s t , 1 8 6 1 . . . P u r c h a s e d .*.
\
Redeemed
Total
5-20S of 1862
: Purchased
Redeemed...
...
Total
L o a n of 1863
•:
".
Purchased
Redeemed . . . . . . . .
Total
1010s o f l 8 0 4
5-20S of M a r c h , 1864
Redeemed
Purchased....
5-208 o f J u n e , 1864
.,-..".
...
....do
Redeemed
Total..}....
T o J u n e 30,
1889.
'
10, 614, 000
256, 800
1,250
1,150
258, 050
48,776,700
31, 200
500
48,776, 700
31, 700
48,807, 900
500
48, 808,400
24, 029,150
30, 036,400
24,029,150
30, 036,400
54, 065, 550
54, 065, 550
19,854,250
14; 500
19, 854, 250
14, 500
19, 868, 750 ,
19,868, 750
691, 600
361, 600
691, 600
361, 600
18, 356,100
11, 072,100
18, 356.100
11,072,100
29, 428, 200
'
29,428,200
5-20sof 1865
Purchased
Redeemed ..
Total
18,848,600
18,848,600
Consols 0f 1866
Purchased
Redeemed
48,166,150
65, 450
. 48,166,150
66, 450
Total
48,231,600
48,231, 600
Consols of 1867
Purchased . . . . . .
Redeemed
32,115,600
76, 700
32,115, 600
76, 700
•
i
16,866,150
1, 982,450
16, 866,150
1, 982,450
Total
32,192,300
Consols of 1868
Purchased
Redeemed
2,213,800
21, 350
2,235,150
2, 256,150
F u n d e d loan of 1881
Purchased
Redeemed
43, 599, 000
25,070, 800
43, 599, 000
25,070,800
Total
68,669,800
F u n d e d l o a n of 1891
Purchased
F u n d e d loan of 1907
:
:.....do
L o a n of J u l y a n d A u g u s t , 1861—
continued
, . . . Redeemed
L o a u of 1863—continued
do
F u n d e d loan of 1881—continued..
do
L o a n of J u l y 12,1882
do
19,455,400
6, 889, 250
12,153,850
26, 839, 650
31, 609 260
33, 728, 900
56,594, 350
" 37, 219,150
43, 688, 700
168, 510, 200
3,000
100
57, 900
56, 597,350
37, 219, 250
43, 688, 700
168, 668,100
291, 561,950
375,077,050
38, 993, 600
62, 650
330, 545,450
375,139, 700
,666, 629, 000
39,056,160
705, 686,160
Total
......:..
Total purchased . . .
Total redeemed
Aggregate
>-
32,192, 300
2,213, 800
21, 350
68, 669, 800
?3
TREAStTEliiK,
No.
34.—SECURItlES AiPPLIED TO THE SINKING FUND SINCE ITS i COMMENCEMENT,
,
M A Y 12, 1869. •
,
*
;
To June 30,1888.
Title.
United States bonds
Treasury notes, issued i)rior to 1846
Certificates of indebtedness
One-year notes of 1803
Two-yeai- notes of 1863
ConipomuMntcrest notes
7-30sof 18')l
7-30S of lS64-'65
Fractional carreney
United States notes
T.
Old demand no les
'.
During fiscal
year, i
To June 30,1889.
1666, 629, 000.00 $39, 056,150.; 00
100.00
678,1
, 000. 00
l,i
, 620.00
160 00
300. 00
50 00
,390.00
1,810 .00
6,
;
50. 00
00
2, 656100
V,, 250.
239.11
6, 953|. 35
26,193,:
, .564.00
29, 090,820.00
i
f 722, 602, 333.11
Total-...-
$705, 685,150. 00
100. 00
678, 000. 00
1, 780. 00
350.00
8,200. 00
50. 00
4, 300.00
199,192.46
090, 564. 00
820.00
39, 066,173'. 35
761,668,506.46
N o . 3 5 . — T O T A L A M O U N T O F U N I T E D S T A T E S B O N D S R E T I R E D F R O M M A Y , 18G9, T O
J U N E 30, 1889.
|
' .
Title of loan.
Rate
J u n e 30,
How retired. of inter- , T o 1888.
est.
D u r i n g fiscal
year.
T o J u n e 30,
1889.
1
l o a n of February 1861
Purchased
Redeemed "....
P e r ct.
6
6
Total
Oregon War Debt
Purchased
Redeemed
6
Total
Loan of July and August, 1861.. Pnrchased
Redeemed
6
6
Total
5-20S of 1862
Purchased.-L.
Redeemed
Converted
Purchased
Redeemed . . . .
6
6
6
6
6
Total.-..
5-20s of March 1864 . . . . . . .
Purchased
Redeemed . . . .
Converted . . . .
5-20S of June,1864
Purchased
Redeemed
Converted
Purchased
Redeemed
Converted
Purchased
Redeemed
Converted
Total....
18, 409, 000
i
1 $1,150
256, 800
685,650
941, 300
1
48, 776, 700
12, 850, 350
1
4,100^
4,100
61, 637,150
614,617.350
1,050
514, 518,400
2,100
19, 854, 250
4, 673, 500
2,100
24, 627, 750
.......
i
i
19, 854, 250
4, 671, 400
43,459,750
69,838,800
12, 218, 650
3,*882, 500
1
36,023,350
157, 689, 950
9, 586, 600
203,299,900
1,119, 800
2, 382, 200
380, 500
•
;
....i
3,882,500
1
1
43, 4.59, 750
69,V38, 800
12.218, 650
•"i 1
1
i
125,517,200'
6
6
6
942, 450
48, 776, 700
12, 860,450
57,155,850
430,271,550
27,091,000
6
6
6
6
6
6=
1,150
57,155, 850
430, 270, 500
f
1,050
27, 091, 000 . . . . J . . . . . . .
1.119,800
2, 382. 200
380, 500
Total
Consol3 of 1865
\
256, 800
684, 500
24,625. 650
Total
$10, 612, 000
7, 797, 000
1
18, 409, 000
6
6
6
Total....
6-20sofl865
....i
61, 633, 050
Total
Loan of 1863
$10,612,000
7, 797, 000
125, 617, 200
'i
36, 023. 350
157, 689, 950
9, 586, 600
i
1
203,299,900
1
118,950, 650 — r
205,191, 550
8,703, 600
7, 600
118, 950, 550
205,199,150
8, 703; 600
332, 845, 700
7,600
332, 853, 300
74
JREPORT ON" T H E FlNAlSfCi^S.
No. 35.--T0TAL AMOUNT OF U N I T E D STATES .BONDS R E T I R E D FROM MAY, 1869.. TO
J U N E 30, 1889—Continue^.
T i t l e of loan.
Consols of 1867
How retired.
Rate'
of interest.
Purchased..:.
Redeemed
Converted . . . .
Exchanged ...
P e r ct.
6
6
6
, 6
T o J u n e 30,
1888.
•
Total....
Consols of 1808
During
fiscal y e a r .
•
'$62,846,950
•309, 921, 250
5, 807, 500
761,100
$22, 200
379,336,800
Purchased....
Redeemed
Converted
Exchanged . . .
4, 794, 050
37, 416, 500
211,750
•44, 900
6
6
6
6
Total....
Total of 6 p e r c e n t s
T o J u n e 30,
1889.
$62, 846, 950
309, 943, 450
5, 807 500
761 100
22, 200
379, 359, 000
5, 450
4, 794, 050
37, 421, 950
211, 750
44,900
•
• 42,467,200
5,450
42, 472, 650
1, 707, 375, 650
43, 650
1, 707, 419.300
T e x a n I n d e m n i t y S t o c k .-.
Redeemed
5
232, 000
232, 000
L o a n of 1858
Redeemed
Converted
5
6
6, 041, 000
13, 957, 000
6, 041, 000
13,957,000
10-40sofl864
Redeemed
Exchanged . . .
5
6
192,414,200
2, 089, 500
, 4,000
192, 418, 200
2, 089, 500
194, 503, 700
' 4,000
194, 507, 700
F u n d e d loan of 1881
Purchased-,!..
Redeemed . . . .
43. 599, 000
72, 838, 200
2,100
43, 599, 000
72,840,300
2,100
116, 439, 300
6,100
331,177, 000
Total
-
Total
,
5
6
331,170,900
F u n d e d loan of 189i
Purchased
F u n d e d loan, of 1907
Purchased
Redeemed
. 25,171,350
1,418, 850
4
Total
L o d n of 1863—continued
•3§
Redeemed
Exchanged . . .
" it
Total
F u n d e d loan of 1881—continued . R e d e e m e d . . . .
Exchanged . . .
(
JI
Total
T o t a l of 3 | p e r c e n t s
Redeemed
' 3
110, 361, 000
27, 792, 950
,4^
L o a n of J u l y a n d A u g u s t , 1861— R e d e e m e d
No.
.
116, 437, 200
Total....
T o t a l of 5 p e r c e n t s
L o a n of J u l v 12, 1882
19,998 000
19, 998, 000
.
82, 568, 050
63, 277, 750
1,418, 850
26, 580, 200
38,106,400
38,106,400
127, 527, 900
29, 750
127,557, 650
' 37, 222,150
13, 231, 650
1,200
37, 223, 350
13,231,650
64, 696, 60O
50.453, 800
1,200.
50, 455, 000
109,113, 300
292, 349, 600
7, 350
109,120, 650
292, 349, 600
401, 462, 900
7, 350
401, 470, 250
, 679,444,600
38, 300
579,482, 900
304, 858, 350
494, too
305,352,450
Total purchased
Total redeemed
600, 413, 350
2, 090, 385, 950
77, 956, 600
308, 476, 750
120, 674, 450
582,150
621, 087, 800
2, 090, 968, 100
77, 95G, 600
308, 476, 750
Aggr.'gate
2, 977, 232, 650
121,256, 600
3, 098, 489, 250
36.—BONDS O F T H E LOANS
GIVEN I N STATEMENT N O . 35, R E T I R E D PRIOR TO
M A Y , 1869.
T i t l e of l o a n .
Oregon W a r Detit
10-40sofl864
Total
...
H o w retired.
R a t e of
interest.
Redeemed
.do
Purchased
P e r cent.
5
6
5
Amount.
$4,748, 000
145, 850
1, 551, 000
6,444, 850
,
•
'
. TREASURER.
75
No. 37.—CALLED BONDS R E D E E M E D AND. OUTSTANDING J U N S 30,
1889.
Redeemed.
Loan.
Call.
1
When
matured.
Amount
called.
f
T o J u n e 30,
i 1889.
t
D u r i n g fiscal year.
•1
Outstanding.
1
5-20sofl862
1
2
3
4
5
6
7
'8
9
10
n
12
13
14
15
16
17
18
19
20
21
22
23
Total
D e c . 1,1871
M a r . 7,1872
M a r . 20,1872
J u n e 1,1873
S e p t . 6,1873
N o v . 16,1873
F e b . 1,1874
Sept. 3,1874
S e p t . 5,1874
N o v . 1,1874
D e c . 1,1874
J a n . 1,1875
F e b . 2.1875
May-. 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
S e p t . 1,1875
Sept. 24,1875
Oct. 14,1875
Oct. 28,1875
24
N o v . 13,1875
5-20sof J u n e 1864
24'
25
26
27
28
29
30
31
Nov.
Dec.
Dec.
Dea
Jan.
Feb.
Feb.
Feb.
13,1875
1,1875
1,1875
17,1876
1,1876
1,1876
15,1876
15,1876
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Feb.
Dec.
Dec.
Dec.
Dec.
Jan.
Apr.
Apr.
Miv
May
June
June
June
June
July
Aug.
15,1876
1,1876
6,1876
12,1876
21,1876
6,1877
10,1877
24,1877
12,1877
28,1877
3,1877
10,1877
15,1877
27,1877
5,1877
6,1877
47
48
49
50
51
62
53
54
65
66
57
58
69
60
61
62
63
64
65
Aug.
Aug.
Sept.
Oct.
Oct.'
Oct.
Oct.
Nov.
Mar.
July
Auff.
Aug.
Sept.
Sept.
Oct.
Oct.
Oct.
Oct.
Nov.
21,1877
28,1877
11,1877
5,1877
16,1877
19,1877
27,1877
3,1877
6,1878
30,1878
6,1878
22,1878
5,1878
20,1878
11,1878
17,1878
23,1878
30,1878
5,1878
Total .
|$99, 940, 350
1 16,218,750
f 20,083,150
1 49,814,700
$606' i 20,025,750
1 14,328,600
f 4,992,300
[ 5,016,850
! 1, 003, 950
100 . 24,986,200
I 14,800,850
1 10,155,550
350
5,086. 000
15, 007, 700
t 6, 005, 050
1 29,980,150
5,'005, 600
5,001,450
5, 002, 250
9, 995, 350
5, 003, 050
10, 001,460
j 14,891,850
1,050
391,600,600
•
5-20S of M a r c h , 1864
• 391,346,900
946, 600
9,104, 500
8, 043, 900
5, 024, 750
5,012, 900
6,020, 500
10,012, 650 .
12,802, 950
3,024, 060
•
........ .
-o
Consols of 1865
58,002,100
1,974,700
10,032,300
9, 990, 300
10,012, 250
10, 053, 750
10,008, 250
10,026, 900
10,155,150
10,138, 300
9,904, 300
10,041,050
10, 003,250
10,048, 300
10, 005,- 500
10, 019, 000
10,114, 550
}
!
.
1
1
(
i
152, 533. 850
10,160,650
10, 018,660
15, 000,500
10,003,300
10,014,050
10, 006,150
10, 012, 600
10,063, 700
10, 032, 250
5, 084, 850
5,006,850
4,973,100
5,001,100
4, 793, 750
4,945,000
4,989, 860
5,081,800
5, 253,30O
4, 966, 500
1,974,150
10,032, 300
9, 992,100
10,000,650
1 0 . 051, 650
10,005,150
10,026,100
10,153, 650
10,137, 800
9,902,800
10, 041, 050
10,003,250
10, 048, 300
10,004, 500
10, 018, 600
10,114, 550
152, 506, 500
1,000
1, 000
1.000
500
600
400
.
$19, 250
3,500
22, 350
63,950
16, 350
6,750
2,350
3, 250
1,000
31, 600
6,860
12,750
5, 700
20, 650
550
18, 550
700
400
1 300
5,600
2,150
3,360
4, 900
253,700
946,000
! 9, 093, 860
8, 043, 900
! 6, 020, 650
' 4,992,800
i 5, 018. 500
1 10,010.600
12, 797, 750
3, 024, 050
58, 046,200
5 20s of 1865
Total
$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
25,017,700
14, 807, 700
10,168,300
5; 091, 700
15,028, 350
6,005,600
29, 998,700
. 5,006.300
5,001, 850
5, 003, 550
10, 000, 950
5,005, 200
10,004, 800
14, 896, 750
10,151,100
10, 012, 650
14,990, 700
9, 997, 350
9,999, 350
9.998, 650
9.999, 950
10,053, 250
10,029, 200
5,080,200
5, 005, 350
4,970, 350
4,999, 950
4, 787, 200
4, 929, 650
4,984,700
5, 081,400.
5,246,200
4,963,050
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
1,000
500
27, 350
9.550
6, 000
9 800
5,950
14, 70p
• 7, 600
12,650
10,450
3, 050
4,650
1,500
2, 750
1,150
6,550
15,360
5,160
400
7,100
3,450
76
RI:PORT OK THE FINANCES.
No. 37.—CALLED BONDS REDEEMED AND OUTSTANDING JUNE 30, 1889—Cont^di
Eedeemed.
Call.
Loan;
C o n s o l s of 1865 .-.^i.i
^
66
67
68
69
70
71
72
73
74
75
When
matured.
Nov.
Nov.
Nov.
Nov.
Dec.
Dec.
Feb.
Feb.
Mar.
Mar.
7,1878
10,1878
16,1878
26,1878
4,1.878
16,1878
16,1879
27,1879
9,1879
18,1879
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
Apr.
May
May
MaV
May
May
June
June
June
July
July
1,1879
4,1879
6,1879
8,1879
11,1879
14,1879
18,1879
21,1879
24,1879
28,1879
1,1879
6,1879
12,1879
17,1879
24,1879
4,1879
12,1879
29,1879
3,1879
4,1879
Amount
called.
Total
76
77.
78
79
80
81
82
83
84
85
86
• 87
88
89
90
91
92
93
94
95 s
Consols of 1867
.,
$5,088, 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
2,600
203, 631, 750
7,600
9, 983,700
9, 893, 300
10, 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
Total
259, 000
37, 353, 600
66, 700
10, 294,150
157,607, 600
24,575,050
4,000
10, 290, 650
157, 551, 600
24, 575, 050
3,600
56, 000
192,476, 800
4,000
192,417, 200
59, 600
10-4 Os of 1864
97
98
99
J u l y 9,1879
J u l y 18,1879
J u l y 21,1879
L o a n of 1858
100
J u l y 23,1879
260, 000
F u n d e d loan of 1881
101
103
104
M a y 21,1881
A u g . 12,1881
Oct. 1,1881
25,030,100
10,121, 850
28,184, 500
102
July
.
L o a n of 1863
L o a n of J u l y a n d A u g u s t ,
1861—continued a t 3 | p e r
cent.
=.
260, 000
600
1,600
25,024,100
10, 084, 700
28,177, 700
6 000
37,150
6,800
63, 336,450
2,100
63, 286, 500
49, 950
12, 947,450
4,100
12, 860,450
87, 000
1,1881
4, 687, 800
2,100
4, 073, 500
14,300
20,030,550
20,182,900
19, 564,100
20, 637,100
5, 086, 200
5, 005, 900
6, 096, 560
15, 090, 300
11,224,500
1,000
2,000
102
July
111
112
113
Dec.
Jan.
Mar.
Apr.
Mav
May
May
June
July
114
115
116
A u g . 1,1882
S e p t . 13,1882
Oct. 4,1882
20, 031, 550
24,188120,184, 900
29,1882
19, 564,100
13,1882
20, 546, 700
8,1882
5, 086, 200
3,1882
5,010,200
10,1882 •
5, 096, 550
17,1882
15,109, 950
7,1882
11,227,500
1,1882
Total
L o a n of 1863—continued a t
3^ p e r c e n t .
^
1,1881
105
106
107
108
.109
•no
20,150
20, 050
5,150
10,650
17, 950
24, 350
13,500
21, 750
14, 500
8, 950
^ 7,200
8,950
20,100
8,150
7,450
8 200
2,850
17, 050
9,350
12, 700
309, 587,150
37,420,300
Total
145, 650
.5,450
J u l y 4,1879
L o a n of J u l y a n d A u g u s t ,
. 1861
:
202,486,100
300
9,963, 550
100
9, 873, 250
1,700 • 10,309,550
9, 996, 000
LOOO
9, 371, 650
1,500
1.100
20, 080, 350
2, OOO
19,591,300
18, 557,750
.1,000
21, 608,450
20, 244,950
20,154, 050
20, 035, 300
""'600
3,400
19, 838, 500
1,100
20, 211, 050
»3,000
19,400, 000
10,666, 200
10,461, 800
700
10, 059,650
2,300
1,400
9, 963, 450
19,200, 350
1,000
22. 200
96
Total
Ontstand
iiig.
$3, 550
150
400
2,200
750
1 500
2,200
800
2, 600
3,800
500
/
T o J u n e 30,
• 1889.
$5, 085,300
4, 991,050
5, 071, 800
4, 994,100
4, 619, 90O
5,001,700
5,057,450
5,009, 600
5, 003, 800
12. 371,150
$100
309, 846,150
Consols of 1868
Total...
D u r i n g fiscal y e a r .
>
50
3,000
19, 700
7, 000
.
9,600
4 300
19,650
3,000
121, 857, 650
29, 750
121,818,100
39, 550
15,024,700
16, 304,100
3,269, 650
100
1,000
100
15,024, 650
16, 303, 500
3, 267,350
50
600
2,300
34, 598, 450
1,200
34,695, 500
2,950
TREASURER,
No. 37.—CALLED
77
BONDS R E D E E M E D AND OUTSTANDING J U N E 30,-1889—Cont'd.
Eedeemed.
•Call.
Loan.
F u n d e d loan of 1881—cont i n n e d a t 3^ pei- cent.
117
118
119
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.
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. 1.1883
D e c . 15.1883
Feb.- 1.1884
M a r . 15.1884
M a y 1,1884
JUDC 20, 1884
J u n e 30,1884
A u g . 1,1884
Sept. 30,1884
Nov. 1,1884
F e b . 1,1886
1886
Mar.
1886
Apr.
1886
May
1886
June
1886
July
1886
Aug.
Sept. 1,1886
I'Sept. 15,1886
Oct. 1,1886
Oct. 16.1886
N o v . 1,1886
Dec. 1.1886
F e b . 1.1887
M a r . 1,1887
A p r . 1,1887
M a y 1,1887
J u l y 1,1887
Total .
D u r i n g fis
cal year.
$750
6,500
$25, 822,600
16,119,850
15, 221, 800
15, 215, 350
30, 753, 350
100
Outstanding.
To J u n e £
$25, 820, 750
16,118, 750
15, 214, 000
15, 214, 550
Z6, 730, 250
$1, 850
1,100
7,800
800
23,100
103,132, 950
7,350
103, 098, 300
34,-650
15, 272,100
1.5,133, 650
10, 208, 850
10,047,850
10, 093,100
10, 010, 250
10,151, 050
10, 040, 800
10, 050,100
10. 330, 750
10, 098,150
10, 000, 250
10, 012, 750
10, 009, 850
10, 002,900
4, 001, 850
4,007, 700
4, 004,950
10, 003, 650'
15, 005, 000
15,1-J2,400
15, 008, 300
10, 005, 350
10, 010, 900
13. 887, 000
10, 007, 750
10, 014, 250
19, 717, 500
4,750
1,100
3,100
6. 550
1,350
1.000
20, 000
1,150
1,400
3,600
700
1, 000
1, 300
6,000
10, 000
10, 600'
100
56, 550
1,700
72, 500
142,500
15, 265, 550
1^, 132, 300
10, 207, 850
10, 027. 850
10, 091, 950
1(), 008, 850
10,147,450
16, 040,100
10, 049,100
10, 329,450
10, 092,150
9, 990, 250
l6, 002,1.50
-16,009,750
10, 002, 900
4, 001, 050
• 4,007,600
3, 999, 350
10. 002, 950
14, 996,150
15,116, 600
15, 004, 350
lb, 004,100
10, 005,400
13, 843, 200
10, 007, 050
10, 012, 8.50
10, 631, 900
494,100
302, 030, 200
302, 259, 000
200
100
3,800
25, 500
100
1,200
- 30, 000
, 200
600
600
4,000
2,500
141, 800
1,500
800
„ 100
5,600
700
8,850
6,800
3,950
1, 250
5,500
43, 800
700
.' 1,400
85, 600
- 228,800
EECAPITULATION BY LOANS.
Eedeemed I
Loan.
A m o u n t called.
D u r i n g fis- T o J^une 30,
cal y e a r . |
1889.
.5-20sof 1.862
5-203 of M a r c h , 1864
.'
,
5-20sof J u n e , 1864
,
.5-20sof 1865
Consols of 1865
. . .^
Consols of 1867
"
Consols of 18C8
,
10-<i0.sof 1864
,.
L o a n ol' 1858
1
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
L o a n of 1863
L o a n of J u l y a n d A u g u s t , 1861—continued a t
3^ p e r c e n t
L o a n of 1863—continued, a t 3^ p e r c e n t
F u n d e d loan of 1881—continued a t 3^ p e r c e n t
L o a n of J u l y 12, 1882 . . .
Total
$391, 600, 600
946, 600
68, 046,200
152, 533, 850
202, 631, 750
309, 846,150
'37,420,300
192, 476, 800
260, 000
63,336,450
12,947,450
4, 687, m
121, 857, 650°.
34, 598, 450
103,132,950
302, 259, 000
1,988, 582, 000
$1, 050
Outstanding.
$253, 700
2,100
4,100
2,100
$39lj 346, 900
1946, 600
58i 002,100
152i 506, 50'b
202,1486,100
309j 587,150
37| 353, 600
192J417.200
t 260, 000
63 286, 600
12[ 860, 450
4|, 673, 500
29, 750
1,200
7,350
494,100
121', 818,100
34* .595, 500
103; 098, 300
302, 030, 200
39, 550
2,950
34, 650
228,800
581,000
1,987,268,700
7, 600
22, 2U0
5, 450
4,000
44,100
27, 350
145, 650
259,' 00
66, 700
59, 600
49, 950
87,000
14, 300
78
R E P O R T ON T H E
FINANCESo
No. 38.—RECAPITULATION O F T H E P U B L I C D E B T ST.-VTEMENT FOR THE CLOSE OF
EACH F I S C A L YEAR FROM J U N E 30, 1882, TO J U N E 30, 1889, I N THE FORM USED
SINCE J U L Y 1,
1885.
J u n e 30,1882.
J u n e 30,1883.
J u n e 30,1884.
J u n e 30,1885.
^ P u b l i c debt.
I n t e r e s t - b e a r i n g debt—
Princinal
$1,528,433,912.00 $1,402, 852,662.00 $1, 291.187,362. 00 $1,260, 774, 402. 00
12,925,629.09
13,108,451.71
13,886, 662. 95
15, 299, 209.99
M a t u r e d debt—
Prinr'.iTUil
Tnt(?r6st
^ D e b t Itearing no i n t e r e s t —
Lf^al-tender notes
Cnvrency certilicates
Silver certiticates
Fractional currency .
>..
Total debt
16, 260, 805. 26
635, 251. 84
7, 831, 415. 26
366, 824. 74
19, 656,''205.26
347,214. 06
4,100, 995. 26
227,199. 52
59, 695. 00
346,681,016.00
13, 245, 000.00
6, 029, 020. 00
64, 606, 090.00
7, 047, 247.77
58, 985. 00
346, 681, 016. 00
13, 060, 000. 00
. 59,807,370.00
72,620,686.00
7, 000, 690.81
58,440.00
346, 681, 016. 00
12,190, 000. 00
71,146,640.00
96, 427, Oil. 00
6, 980, 061. 31
57, 950. 00
346, 681, 016. 00
29, 585, 000. 00
126, 729, 730.00
101, 530, 946. 00
6, 964,175.88
1, 987, 097,247.86 1, 924,166,312. 76 1, 857, 782,401.34 1,*889, 577,103.75
Cash i n the T r e a s u r y .
A v a i l a b l e for r e d u c t i o n of d e b t ^ G o l d h e l d for gold certificates actually outstandingSilver h e l d for silver certificates actually outstanding.
U . S. n o t e s h e l d for c u r r e n c y
c e i t i t i c a t e s a c t u a l l y outs t a n d i n g . '.
C a s h held for m a t u r e d d e b t
and interest accrued and
unpaid
Fractional currency
Cash held for b o n d s called,
n o t m a t u r e d . ^.. 1
T o t a l a v a i l a b l e for r e d u c tion of d e b t
^
K e s e r v e fund held for r e d e m p tion of U . S. n o t e s
U n a v a i l a b l e for r e d u c t i o n of
debt- .
F r a c t i o n a l s i l v e r coin
M i n o r coin
Certificaies h e l d a s cash—
Le<^al t e n d e r
Gold..
Silver..
N e t cash b a l a n c e on hand,
....
T o t a l cash in T r e a s u r y , a s
shown b y Treasurer's
general account
Debt less available cash i n the
Treasury
59, 807,370.00
71,146, 640. 00
126, 729, 730.00
54, 506, 090.00
72, 620,686.00
96, 427, Oil. 00
101, 530,946.00
13, 245, 000. 00
13, 060, 000. 00
12,190, 000. 00
29, 585, 000. 00
32, 095,267. 09
17,754.44
22,084,902.95
. 4,657.64
33, i l l , 871.03
7, 027.28
17,253, 823. 87
3, 285.91
5, 029, 020. 00 ,
104,893,131.53
167, 577, 616.59
212, 882, 549. 31
275,102, 785. 78
100, 000, 000. 00
100, 000, 000.00
100, 000, 000. 00
100, 000, 000.00
28, 048, 630. 58
449. 072. 48
28, 486, OOL 05
574,170. 85
29, 600,720. 05
768, 988. 75
3i, 236, 899.49
868, 465.64
75, 000. 00
8,100. 00
11, 590,620. 00
*1, 775, 034. 81
316, 000. 00
22,671,270.00
1.5,996,145.00
9, 869, 699. 43
195, 000. 00
27, 246, 020. 00
23, 384, 680. 00
2, 092, 029. 93
200 000.00
13,593,410.00
38, 370, 700. 06
29,240,168. 32
243,289,519.78
345,389, 902.92
391,985,928.18
488,612,429.23
1, 783,979,151.14 1, 646, 718, 996. 74 1,546, 991,881.96 1,485 234,149. 65
30,412, 900.00
16, 655, 210.00
Decreaseof interest-hearing debtD 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 int e r e s t , 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
175,757,350.00
125, 581, 250.00
8,429, 390. 00
111, 665,300. 00
59, 645. 65
9, 636,940.00
47,266. 96
21,174.50
11, 824, 790. 00
N e t d e c r e a s e of p r i n c i p a l pf d e b t .
D e c r e a s e o f r i n t e r e s t d u e a n d accrued
. .•
166,279,955.55
134, 057, 906.96
99, 861, 684.60
7,052,901.28
1, 680, 974.14
797,82L.92
302, 837.16
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, exc l u d i n g f u n d s h e l d for r e d e m p tion of certificates.
D e c r e a s e of a v a i l a b l e cash, exc 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 certificates
173, 332,856.83 , 135, 638, 88L 10
100,659,506.42
46,287, 322. 59
1, 621,273. 30
°"°
',
16,375.43
45,984,485.43
15,470,409. 72
932, 391.64
22,117, 275. 83
D e c r e a s e of d e b t , l e s s a v a i l a b l e
cash
151, 215, .581. 00
137,260,1.54.40
99, 727,.114. 78
01 757 732. 31
' A n n u a l interest charge on public
debt
...
Decrea.se of a n n u a L i u t e r e s t
charge
61,237,521.47
55, 314,120. 22
61, 803, 843.22
50, 891, 643. 72
17, 658. 584. 75
5, 923,401. 25
3,510,277.00
912 299 50
^'Overdi'awji.
TREASURER.
79
No. 38.—RECAPITULATION O F T H E P U B L I C D E B T S T A T E M E N I , ETC.—Continued.
J u n e 30, 1886.
J u n e 30, 1887.
J u n e 30, 1888.
J u n e 30, 1889.
Public debt.
Interest-bearing d e b t Principal
Interest
Matured d e b t Principal
Interest
/
Debt bearing no interestOld d e m a n d n o t e s
Legal-tender notes
(Currency certificates .
Gold certificates
Silver certificates
Fractional currency ..
Total debt
L, 210, 637, 612. 00 ., 086, 315, 862. 00 ., 016,146, 012. 00
11, 624, 205.28
12, 860, 514. 88
12, 351, 603.18
$894,477,502.00
10,674,562.41
2,496,095.26
168,267. 86
I •
66, 807. 50
346, 681, 016. 00
14,416,000,00
119, 887, 370; 00
200, 387, 376.00
6.922, 643.82
1, 911,485. 26
163,988.92
9, 704,445:
224, 020.42
6 116,165.26
190, 753. 87
57, 445. 00
346, 681, 016.00
18, 250, OOO. 00
76, 044, 375.00
88,116, 225.00
6, 954, 087. 52
57,130. 00
346, 681, 016.00
8, 770, 000. 00
91, 225,437. 00
142,118, 017. 00
6, 946, 964. 37
66,442.60
346, 681, 016.00
16, 735, 000. 00
116, 792, 759. 00
257,102,445. 00
6,916,690.47
1, 769, 629, 741. C 1, 700, 771, 948.68 1,717,784,793.72 1, 661,401, 891.56
Gash i n the T r e a s u r y .
A v a i l a b l e for r e d u c t i o n of d e b t :
Gold h e l d for gold certiticates actually outstanding.
Silver held for silver certificates a c t u a l l y o u t s t a n d i n g .
U , S. n o t e s h e l d for c u r r e n c y
certificates a c t u a l l y outstanding
C a s h h e l d for m a t u r e d d e b t
and interest accrued a n d
unpaid
Fractional currency
C a s h h e l d for b o n d s called,
not matured
V' — •— " ••
T o t a l a v a i l a b l e for r e d u c t i o n of d e b t
E e s e r v e f u n d held for r e d e m p t i o n of U . S. n o t e s
U n a v a i l a b l e f o r r e d u c t i o n of
debt:
F r a c t i o n a l s i l v e r coin
M i n o r coin
^
C e r t i t i c a t e s held a s c a s h :
Leeral t e n d e r
Gold
Silver
N e t c a s h b a l a n c e on h a n d
Total cash in Treasury,
as shown b y Treasurer's
general account
76, 044, 375. 00
91.226,437. 00
119, 887, 370. 00
116, 792, 769. 00
. 88,116, 226. 00
142,118,^017.00
200, 387, 376.00
267,102,446.00
18, 250, 000. 00
8, 770, 000. 00
i
16, 735, 000. 00
14, 416, 000.00
22, 788,980. 66
2, 667.17
18, 657, 522. 31
2, 366.07
14, 288.568.40
1,367.97
12, 640, 036.69
987.13
19, 716, 600. 00
I
205. 202,247. 73
280, 489, 842. 38
348, 979, 67?. 37
403, 271, 227. 72
100, 000, 000. 00
100, 000, 000. 00
100,000,000. 00
100, 000, 000. 00
' 28, 904, 681.66
377, 814.00
26, 977,493. 79
116,698.76
26,051,741.19
112, 035. 58
26,129,733.17
225, 074.73
* 250, 000. 00
310, 000.00
30, 261, 380. 00 "^^ 22,136,780. 00
29,104, 396. 00
3, 425,133.00
103,220,464.71
40,853,369.28
240,000. 00
37, 235, 793. 00
5, 527, 301. 00
71, 484, 042. 39
629, 854, 089. 85
643.113,172. 01
260, 000. 00
55,129, 870. 00
27, 861; 450.00
75,191,109. 95
492, 917,173.34
482, 433, 917. 21
Debt less available cash i n the
Treasury
1,389,136,383.40 1, 279,428, 737.02 1,165, 584, 656. 64 1, 070, 646, 621. 45
D e c r e a s e of i n t e r e s t - b e a r i n g d e b t
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 interest, excluding certificates...
I n c r e a s e of m a t u r e d d e b t
50,136,850.00
124, 321, 750. 00
3,589, 280. 00
10, 593. 36
5, 603,450. 00
7, 438.15
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 a n d accrued
44, 543, 993. 36
127, 918,468.15
74, 813, 563.
68, 293. 31
542,178.25
749,883.
1,063,921.81
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, exc 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 certificates
D e c r e a s e of a v a i l a b l e cash, exc 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 .
44, 612, 286.67
128,460, 646.40
75, 563,446.
122, 323, 360.16
D e c r e a s e of d e b t , less a v a i l a b l e
cash
,
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.
,
,
51,485,479.58
71,169, 850.
3, 619, 070.
• 24, 643.05
120,668,510.00
584, 610. 00
6, 318. 35
121, 259, 438. 35
38,280, 633.
18, 753,000. 02
33, 385, 324. 97
96, 097, 766. 25
109, 707. 646.38
49, 387, 608.72
45, 657,939. 72
42, 869,345,
1,504,035.00
3, 729, 569.00
2, 788, 593.
113, 844, 080. 38
88,9,38,03.5.19
37,629,765.32
5, 239, 580. m
80
REPORT ON T H E
FINANCES.
No. 39.—BONDS P U R C H A S E D DURING THE F I S C A L YEAR
Coupon.
Loan.
For sinking fund:
F u n d e d loan of 1891
F u n d e d loan of 1907.. J
$2,185,650
3, 982, 750
Total
N o t for s i n k i n g f u n d :
F n n d o d loan of 1891
i n i n d c d loan of 1907
Total
'
Registered.
...
T o t a l funded loan of 1891
T o t a l funded loan of 1907
Total . Interest
accrued.
principal.
1889.
A v e r - ^,
age
price.
Net
premium.
$9, 968,200 $12,153, 850 $39, 397.68
22, 856, 900 26, 839, 650 180, 444. 69
$844, 918. 01 106.952
7, 672, 222.29 128. .585
6,168,400
32, 825,100 . 38, 993, 500! 219, 842. 37 8,517,140.30
5, 559, 650
2, .520, 500
64, 854, 550
8, 746, 250
8,080,150
73, 600, 800 ^^ 81, 680, 950 436, 309. 35 8,775,222.35
7,745, 300
6, 503, 250
74, 822, 750
31, 603,150
70,414, 20o| 423.891.59
11,266,750| 12,417.76
5, 520, 680. 86 107.840
3, 254, 535.49 128.HF6
82, 568, 050i 463, 289. 27 6, 365, 004. 87 107.710
38,106, 400J 192, 862.45 10, 926, 757.78 128. 674
14, 248,550 106, 425, 900 120, 674, 460! 6.56.151.72 17, 292, 362. 65
'
No.
40.—CHANGES D U R I N G THE F I S C A L Y E A R 1889
I N THE P R I N C I P A L OF
INTEREST-BEARING D E B T AND D E B T ON W H I C H I N T E R E S T HAS CEASED.
T i t l e of loan.
Eate per
cent, of
interest.
Outstanding
J u n o 30, 1888,
as per debt
statement.
THE
Decrease.
Outstanding
J u n e 30, 1889, as
per debt statement.
$222,207, 050.00
$82, 668, 060
714,177,400. 00 "$24," 350 38,106, 400
138, 050.00
18, 410
14, 000, 000. 00
64, 623, 512.00
$13 >, 639, 000.00
676, ('95,3.50. 00
119, 640. 00
14. 000, 000. 00
64, 623, 512. 00
24,360 120, 692, 860
894, 477, 502. 00
Increase.
Interest-bearing debt.
F u n d e d loan of 1891
F u n d e d loan of 1907
Kefunding certificates... . . . . . .
N a v y pension fund
B o n d s i s s u e d t o Pacific r a i l r o a d s ' . .
f
4
3
6
Total
;
1,016,146, 012. 00
Debt on which interest h a s ceased.
1-10 to 6
Old d e b t
6
L o a n of 1847
Texan indemnity s t o c k . . . . . . . . . . . . . . 6
L o a n of 1858
5
6
L o a n of 1860
•
5-'50s of 1862.
6
5-20s of J u n e , 1864
6
6
5-20s of 1865
5
10-40S of 1864
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
6
5
F u n d e d loan of 1881
F u n d e d loan of 1881—continued
Ore'•''on 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
6
L o a n of J u l y a n d A u g u s t , 1861—
3^
L o a n of 1863 (1881s)
' 6
L o a n of 1863—continued
3^
L o a n of J u l y 12, 1882
•....
3
T r e a s u r y n o t e s of 1861
6
7-30s of 1861
...
7 3-10
One-year n o t e s of 1863
6
T wo-year n o t e s of 1863
5
Compound-interest notes
6
7-30s of 1864-'65 .
7 3-10
6
Certificates of i n d e b t e d n e s s
4 to 6
Temporary loan
3
T h r e e p e r c e n t , certificates
f
Total
Aggregate
'
161, 920.26
1,250.00
20, 000.00
2, 000. 00
10, 000.00
254, 760.00
44,100. 00
27, 350. 00
63, 600.00
153, 250.00
281, 200. 00
72,160.00
6, 000.00
62, 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. 00
10, 800. 00
35, 085.00
28, 750. 00
189, 630.00
128, 300.00
4, 000. 00
2,960.00
5, 000.00
2, 496, 095.26
1,017,642,107.26
1,050
4, 000
7.600
22, 200
5,450
2,100
7,360
1,150
4,100
29, 750 t
2,100
1,200
494,100
151,920.26
1,250. 00
20 000 00
2, 000.00
10 000 00
2.53 700 00
44,100,. 00
27 350. 00
69, 600. 00
145, 650.00
259, 000. 00
66,700.00
6, 000. 00
49, 950.00
34, 650. 00
2,550.00
87, 000.00
39, 550. 00
14, 300. 00
2, 950. 00
228, 800.00
2, ,500. 00
10, 800. 00
34,455. 00
28, 500. 00
185. 750.00
130, 500.00
4 000. 00
2, 960.00
5, 000.00
6,000
630
250
3,780
2,800
6,000
589, 610
1, 911, 485.26
29,360 121,282,470
896, 388,987. 26
81
TEEASUEEE,
No. 41.—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 F O R T H E F I S C A L Y E A R 1889.
Dr.
Cr.
Amount.
Tocash balance June 30,1888...
To -^packages on hand with unbroken seals, June 30,1888 —
To national-bank notes received
for redemption —
To "overs" reported in nationalbank notes received for redemption
1, 770,380.08
105,830. 00
:, 932, 058. 75
(
4, 048. 62
Amount.
By national-bank notes, fit for
circulation, forwarded to national banks by express.. L...
By national-bank notes, unfit
for circulation, deliveredto|the
Comptroller of the Currency..
By notes of failed and liquidating national banks and Uniibed
States notes deposited in the
Treasury of the United States .
By packages referred and moneys returned
j . . .
By express charges deducted.
By counterfeit notes rejectied
and returned
|..'.
By national-bank notes—less
than three-fifths, lacking signatures, and stolen—rejected
and returned, and discountlon
United States c u r r e n c y . . ] . . .
By "shorts'" reported in national-bank notes received
for redemption
J...
By packages with unbroken
By cash balance June 30, 1889.
95, 812, 317.45
$17,084, 590. 00
73, 829,461. 90
114, 970. 00
811, 835.55
957.18
2,191. 50
2,178.72
6, 836. 85
77.00
3, 959, 218.75
95, 812, 317. 45
Total.....
No. 42.—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, 1^ 574, TO .lUNE ao,
18S9.
i
Cr.
Amount.
Dr.
[
To national-banknotes received
To " o v e r s " reported in national-bank notes received
$i;960,710,67L81
248,794.68
/
/
V
/
/
/
Total
FI 89
Amount.
1
\
•
1
1, 960, 959,366.49
6
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
ihe Comptroller of the Currency
;
By notes of failed and liquidating national banks and
United States notes deposited
in the Treasury of the United
States'
."..-. - . . . .
By packages referred and moneys returned
1.
By express charges deducted ..
By counterfeit notes rejected
and returned.
L..
By national-bank notes—less
than three-fifths, lacking signatures, and stolen—rejected
ia-nd re turned, 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...
i
By cash balance J u n e 30,1889..
Total
i
1
$769,598, 501. 00
1,043,561,673.85
133, 364,005. 40
10,097,694.78
44, 913. 65
56, 356.75
94,113. 42
' 182, 811. 89
77. 00
3,959,218.75
1, 960, 959, 366.49
82
No.
R E P O R T
43.—NATIONAL-BANK
THE
FISCAL
YEAR
Month.
FROM
Total
1888—July
AugUvSt —
September
October
November.
December.
1889—January...
February .
March
April
May
June
Total
44.—RESULT
Providence.
EACH
OTHER
MONTH
OF
PLACES.
Chicago. C i n c i n n a t i . I St. L o u i s .
Philadelnhia.
11,477, 775
New
Orleans.
$504, 000
488, 010
409, 080
427, 000
474, 000
414, 000
701, 500
492, 000
411,000
491,821
604, 600
446, 000
Pittsburgh.
$86, 500
97, 000
89, 500
132,500
130, 500
134, 500
149, ."-.OO
114,885
1 ;{2. 500
178, 000
191,500
199,000
$148, 000
128, 990
118, 500
138, 505
111,515
92, 000
136, 000
114, 000
131,500
129, 500
135, 000
107, 276
1,635,885
Total
receipts.
Other
places.
Packages.
$269,000 $104, 000
119,000
222, 046
209, 000
142, f 00
196, 010 . 188, 000
199, 000
160, 000
246, 000
163, 000
261, 983
114, 000
209, 000
107, 000
179, 500
109, 000
173, OOO
125, 000
261, 000
113, 000
160, 000
120, 000
$70, 977
68,500
^62, 000
91,500
67,000
66, 000
89, 500
60, 000
57,500
54,000
70, OCO
74, 000
$48,700 $1,628, 878 $9, 224, 959
1, 337, 521 6, 984, 802
47, 400
1,180,521
46, 656
5, 205; 274
1,364,492
64,130
5, 845,727
1, 203, 584 .5, 805. 922
53, 371
1, 282, 050 7, 692, 437
67, 895
1, 962,468 12, 256, 553
53, 527
5.5, 036 1, 633, 432 7,164, 265
51, .505 1, 843, 214 5,735,306
1, 495, 822 6, 035, 825
49, 960
2, 025. 903 9, 020, 602
57, 000
1, 696, 705 7, 941, 336
54, 635
1, 665
1,595
1,4.54
1,628
1,574
1,647
2,001
1, .579
1,696
1,616
1,806
1,619
2,575,538 1,564,500
820, 977
649, 715 18, 654, 590 88, 932. 058
19,870
COUNT
BY
OF
NATIONAL-BANK
FISCAL
1875
1876
1877
1878
1879
:
1880
1881
1882....:...
1883
1884
1885
1886
1887
1888
•-.
1889:
Total
Fiscal year.
,
30,
RECEIVED
FOR
R E -
1889.
C l a i m e d b y owners.
' Overs."
' Shorts.'
$154, 626, 760.10
210, 032, 975.56
242, 885, 375.14
213,151. 458. 56
157, 655, 844. 96
61, 586, 475. 68
69, 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
89, 037, 81L 75
$24, 644. 85
16, 491. 42
24, 996.68
37, 649. 20
22,148.42
6,461.30
13, 231.38
11 222.13
8, 092. 09
6, 066. 30
17, 060. 07
25, 528. 97
16,404.07
14, 749. 28
4, 048. 62
$20, 223. 50
16,175.26
29,704.43
16,394.60
9, 906. 35
9, 868. 97
6, 618.25
13,405.13
10,103.35
3, 785. 60
6, 445. 25
8, 246. 65
22. 356. 00
2,74L 70
6, 836. 85
$1, 620, 557. 39
1, 065, 002.201, 278, 903.86
384, 372.22
329, 323.34
30.5, 4,i2.14
569, 971.06
- 672, 427. 09
727, 282.98
455, 333. 05
329, 249.19
277, 194.78
464, 413.45
. 806, 396. 48
811, 835. 55
1, 960,710,494.81
248,794.68
182, 811.
10, 097, 694. 78
$15, 028.12
7, 709.22
4, 755. 91
3, 997.13
6,282. 68
7, 870.23
22, 763.37
3, 832. 36
4, 337.62
3, 365.77
3, 636.49
3, 822. 28
2, 654.23
1, 979. 40
2,178. 72
...
NOTES
YEARS, TO J U N E
Rejected.
..
AND
5, 640, 913 5, 862, Oil
OF THE
Total
Boston.
REDEMPTION
CITIES
38, 669, 368
Fiscal vear.
.
FOR
PRINCIPAL
$547, 600
528, 330
476, 702
480, 053
481,742
447, 604
494,016
425, 636
357, 250
444, 116
516,185
441, 780
DEMPTION,
1875 . .
1876
] 877
1878
1879
]880
.
1881
1882
1883...:.:
1884
1885....
1886..
1887
1888
1889
F I J S A N C E S .
$4, 416, 934 $1,400,470
3,118,566
829,440
1,894,566
576, 360
1,765,037'
998, 500
1,802, 540 1,122; 070
3, 098, 886 1,680,503
5, 894, 897 .-2, 399,163
3, 074, 700
888,676
2, 054, 540
407, 847
2, 618, 600
376,106
4,619, 764
445,650
4,300,440
352, 500
Baltimore.
Month.
T H E
RECEIVED
THE
New York.
1888—July
August
September.
October. . . .
November December .
1889—January . . .
February..
March
April
" May
J une
No.
NOTES
1889,
OJN
94,113.42
Counterfeit.
Express
charges.
$3, 741.00
5,188. 00
5,634.00
4, 008. 00 •
3,010.00
* "$25," 842.'is
3, 846. 76
9,938.41
4, 324.60
3, 345.03
4,151. 00
1,152. 09
4, 569.60
726. 84
3, 770. 50
523. 54
3, 560.00
612. 26
2, 720. 00
526. 96
2,924.00
573.58
2, 722. 00
716.62
2,191. 50
. 957.18
56, 356.75
44,913.65
Kef e r r e d a n d
returned.
iSTet p r o c e e d s .
$152, 891, 855.. 00
208,955, 302. 00
241 591 373 52
212 780 335 81
157, 303,622. 96
61.255,980.48
59, 056,468. 60
76 405 581 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
88,217, 860. 57
1,950,483,399.00
83
TREASURER.
No. 45.—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 D E M P T I O N A G E N C Y , B J F I S C A L YEARS, TO J U N E J 30, 18t'9.
Fiscal year.
1875
1876
1877
1878.
1879
1880
1881
1882
1883
3884
1885
1886
1887
1888
1889..
Total
Fiscal year.
Total
No.
United States
cuiTency.
$58, 825, 766.00
92, 374, 801.00
95, 212, 743. 45
75, 361, 427.23
51, 7i8, 253. 06
10, 852, 505. 63
22, 415, 972.28
32, 992, 144.72
56, 018, 447.71
77,991, 916. 83
105, 840, 234. 80
74,149, 565. 26
39, 996, 984.07
63,463, 333.36
49, 669, 676.83
$50,858,842.00
40,120, 338.00
34, 588,129.15
23,046,418.44
14,617,-619.41
21,174, 826. 66
19, 567, 744.21
23. 222, 831.83
23, 668, 064. 66
24,080,304.62
19. 236, 730.27
9.204, 752. 76
15, 657, 298.62
19, 280, 725.66
18,289,439.13
$468, 974.00
549, 645.40
62,178.90
28,230.69
86,164.56
246, 447.42
296, 257.79
158; 127. 60
135; 773.22
108i 843.62
97i 670.41
901 684^97
9i; 265. 70
$96, 683.32
174,831.85
215,045.27
269, 918. 44
242, 518. 37
1, 015, 519.10
482, 500. 35
451,194.22
248.970.92
202, 537.79
144,318.19
896, 883, 752.13
356, 614,065.41
2, 404i 264.18
3,544,037.82
Counter
redemptions.
C r e d i t i n general account.
$100, 000.00
4, 738, 979.00
6, 676, 000.00
2, 661, 021. 00
5, 089, 222.80
3, 883, 417.60
3, 522, 607.00
4, 033, 402.40
3, 941, 638. 00
3, 826, 293.00
3,848, 090. 60
8,386, 486. 00
4,200, 654.50
3,229, 772.00
3,280, 275. 50
1875
1876.
1877
1878
1879..
1880...
1881
1882
1883
1884
1885
1886
1887
1888
1889..
FraC|tional
s i l v e r coin.
Transfer
checks.
Standard
silver dollars.
Credit in
redemption
accounts.
Total.
$24,066, 844.00 $19, 040,413.00 $152. 891.855.00
19, 078,209. 00 52,643,1065. 00 208, 955,392.00
91,856,|769.92
12, 789,757.00
241,591, 373. 52
12,609, 083. 76 98, 552,1739.98
212, 780,335.81
50, 681,484. 09 157,303, 622. 96
35.148, 181.38
6,924, 097.88
18, 218,070.37
61, 255.980.48
4, 313,'702.36
8, 936,232.92
59,056, 468.60
4,534, 598. 69
10,106, 238.45
75,405, 581.95
5,248, 120.14
12.428, 692. 86
101,843, 739.53
5, 727,786. 37 125, 760,160.18
12, 960,221.66
6,443, 697.26
13, 944,370. 50
149, 931,396.90
6, 727,706.96
31, 007,087.30
130, 029,625.12
24, 768,344.79 • 2,2i3,346. 65
87, 213,269.96
20.149, 324.00
1, 830,349. 65
98, 246,727.42
15,589, 994.27
1,152, 890.95
88,217, 860. 57
61, 415, 858. 30 271, 800, 652. 26 357, 820, 768.90 1,950.483,399.00
46.—DISPOSITION MADE OF T H E N O T E S R E D E E M E D B Y THEJ NATIONAL
R E D E M P T I O N A G E N C Y , B Y F I S C A L YEARS, TO J U N E 30, 1889.
BANK
. 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 of t h e C u r r e n c y .
Returned
Fiscal year. to banks,
of i s s u e .
1875
1876
1877
1878
1879
1880
1881
1882
1885
1880
1887
1888
1889
Five per
cent, account.
Reducing
account.
Liquidati n g account.
Failed
accou^t.
Deposited
in Treas]iry.
Balance
on h a n d .
= . . $15,213, 500 $11,5,109,445
$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 62,618,600
24,439, 700. 00 11, 605, 312. 62
152, 437, 300 51, 585,400
11, 852,100.00 8,410,848. 33
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
12,466,046.00 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, 600 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
5.76'9, 080.00 6, 791,087. 93
14,
311,170.00
13,412,608.
60
46, 701,100 54, 532,935
4,022,497.50 3, 840, 402.05
20, 786, 640 30, 506,030 19, 647. 970. 60 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
17, 084, 590 27,443,340 28,159,373.50 17,807,773.90 418,974.50
11^,970.00 3,959,21a 75
T o t a l . . . 753,645, 710 814,973,670 149, 948,171.00 77,82"2,278.15 817,554.70 149,316,796.40
84
REPORT ON THE
FINANCES.
No. 47.—DEPOSITS, 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 A C COUNT OF NATIONAL BANKS F A I L E D , IN LIQUIDATION, AND R E D U C I N G C I R C U L A TION, BY F I S C A L YEARS, TO J U N E 30, 1889, AND BALANCE OF T H E D E P O S I T S AT
THE CLOSE O F E A C H YEAR.
Fiscal year.
Deposits.
Redemptions.
Transfers and
repayments.
Balance.
Failed.
1867
1868
1869
1870
18^1
1872
1873
1874
1875
1876
J877
]878
1879
1880
1881
1882
1883
1884
]885
1886
]8S^7
3888
1889
$44,000. 00
648,171.95
653,220. 20
27, 732.00
....
96, 209.60
,.'.
1,473,459.26
474, 701. 25
724,126.54
1,434,065.96
. 686, 535.00
856,988.25
598,104. 50
814,870.25
217,008.00
325, 562.50
975,729.25
452, 787.50
634, 780.00
837,413.00
•
.
885,440. 00
.
297, 890. 00
681,338.00
217,880.00
', $87,230.00
584, 752. 65
419, 978.90
122, 227. 60
104,159.50
842, 369.35
818, 627.00
458, 510.00
1,116, 693. 00
770,818.80
773, 915. 00
752, 497.50
636, 613.50
382,116. 60
426, 888. 60
533,604. 50
722, 808.00
626, 212.00
703, 786.60
608, 707.00
406,773.60
437,793.20
418, 974.50
13, 857, 013.00
12, 753,956.00
:...
..
:
. . .
1
. .J'
Total
I n liquidation.
'
i
]867
1868^
18G9
1870
.
1871
1872
. •
1873
1874
1875
] 876
.. ..
1877
. '
1878
1879
1880
1881
LSR2
1883
,...:..
1884 -1885
1886
1887
'
1888
1889
'..
:..
1
^
•
Total
Total
$99, 323. 00
83,445.00
$20,189. 30
253,430. 60
158, 935.00
150 985.10
782, 076. 00
438,149.25
703, 765. 79
1,022,138.75
837, 854 95
919,928.20
765, 536.20
943, 791.96
778, 683. 46
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
920, 289. 00
182,768.00
y
-
Reducing circulation.
1875
.. V
1876
1877
1878
1879
1880
..-.
1881 1882
1883 ...".
1884
1885
1886
1887
1888
1889
-^
'
'..
--
5,600.00
37,490.00
17,427. 75
92,198.26
38,430.50
112,500.00
80, 527. 66
758,428.00
1, 203, 367.60
2,920, 801.00
2,
531,
784.65
1,999,645.00
2,423,151.00
1,858, 620.00
915, 990. 00
2,561,283.00
1, 974, 964. 00
3,31G,72L00
2, 609,456.50
2, 607, 643.00
2,406,317.00
1,878,016.00
1,810,752.00
2, 501, 039.60
2, 569,228. 00 ' 1, 554, 086 50
1,058,414.50
1, 050,183.00
1,144,900.40
1,281,96L00
1,769,766.00
7, 967, 762.00
4, 695, 593.00
7,284,980.00
5,015,950.50
6, 746,173.50
7, 066, 226. 50
12, 684, 354.00
14,637,711.00
35,202,542.76
31, 436,378.25" 17, 313, 645. 00
20, 717, 893.25
25, 539, 318.10
17, 807, 773.90
3, 386, 676. 00
31, 890. 00
106, 660.50
180,730.00
858, 030. 35
2, 576,123. 85
2, 043,984.30
1,479,453.30
3,123, 846.30
900.00
4,463,613.30
2, 000. 00
4, 561, 799. 80
29, 662." 66' , 4, 004, .836. 80
4, 691, 694. 80
163,429.50
179,694.00
6,427,242. 30
6,425.010.80
6, 562, 065.40
17, 757.00 11, 732, 304.40
14,421,691.40
531,'966.00' 13,159, .568.40
109, 793.00 18,667,902.90
143, 590. 00 39, 089,138.65
.91,229.00 53,119, 742.90
255, 897. 60 57,685,270.15
. 21, 660. 00 43,242, 512.25
154,118,768.35
109, 328, 828.00
1,547,418.10
21,164,854.00
29,300,469. 00
9. 985, 066. 00
6, 080, 650. 00
7, 222,806.00
13,042, 896.00
26, 063,959.00
16,522,365.00
16,200, 398.00
25,389,470.00
17,927,785.00
16,514,285.00
44,396, 630.00
20,400,030. 00
29, 578, 580.00
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
19,617,970.50
29,008,27L00
28,159,373. 50
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
677, 061.00
298,790,24L00
246,829,496.50
18,072,409.00
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
20, 886, 667.50
25, 349,423. 00
19, 034, 995P. 00
19, 989, 400. 00
43, 895. 336. 50
33,146,190. 00
33, 888, 335. 50
85
TREASURER.
No.
47.—DEPOSITS, E E D E M P T I O N S , AND TRANSFERS AND REPIAYMENTS,
COUNT OF NATIONAL BANKS F A I L E D , ETC.—Continuedl
Fiscal year.
Deposits.
Redemptions.
Transfers and
repayments.
ON A C -
Balance.
[
Aggregate.
1867
1868
1869
1870
1871.
1872
1873
. .
1874
1875
1876
1877
1878
1879
•..
1880
1881
.
1882
1883 -.'..'.
188t
>
1885
] 886
;
1887
1888
.
'^
1889
1
'
Total
j
$81,490. 00
740, 370..20
765, 720.20
786,1.60.00
3, 017, 070. 60
3, 473,104.25
,2,333,321.25.
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. 456, 846. 25
23,938,165.50
. 31,040,200.60
31,449,552.00
52, 602, 267. 75
76.129, 898. 25
46, 520, 686.10
33,183,1*36.00
$92, 830. 00
602,180.40
458,409.40
202, 755. 25
1,307,527.00
3,374,153.90
3, 241, 778. 00
1, 374, 500. 00
10, 912, 666.00
24,324,687.30
.25,060. 755. 00
12, 009, 875. 50
8, 056, 701. 00
6,401,916.00
12. 344, 798.90
16, 808, 606. 50
23,552,279.50
26, 857, 689.50
28. 462, 225.00
29, 567, 588. 00
37, 368,289. 00
50,163, 957.45
46, 386,121.90
$126,849.80
434,160.60
1,
017, 565. 35
(1
2, 727,108. 95
2 826 059.30
1
1, 917 602. 55
612.09
1 $666.66 18,3,827
203,667. 05
626,920.00
25,
972,
360.
75°
401, 266.00
649, 314. 00 12, 991 361 00
9,
797,
513.00
4^3, 766. 50
75,1,654.00 11, 596 061.25
172, OIL 00 ' 19,337, 621.25
1, 6117,446.00 33, 146 858.85
3, 737, 369. 00 37,056,729.60
1, 284, 705. 00 36,157,910.60
972, 300.60 39 368 121 10
3, 75;9,116. 00 38, 596, 332.10
1, 392; 306.00 60, 248 705.85
1,017,397.00 97, 992, 918. 10
2, 3916, 803.10 91, 952, 843. 65
V 69^,72L00 78, 051,136. 75
466, 766, 022.35
368, 912,290.50
19,802. .59.5.10
1
'
No.
R E D E M P T I ON s ,
48.—DEPOSITS,
ASSESSMENTS
AND R E P A Y M E N T S , O N
A C C O U NT O F T H E F I V E
NATIONAL
FISCAL YEARS,
BANKS,
B Y
D E P O S I T S A T T H E C L O S E O F E A (: H
Fiscal year.
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886 .
1887
1888
1889
•
:-.
....
Total.
No. 49—PACKAGES
AND
TRANSFERS
P E R C E N T . R E DE M P T i O N
TO J U N E
F U N D O F
ANJ) B A L A N C E O F T H E
30/1889,
YEAR.
Assessments.
Trans'fers a n d
repayments.
Balance.
$290,965. 37
365,193. 31
367, 066.10
317,942.48
240,949.95
143, 728. 39
126,212.12
142, 508. 72
150,611.53
178, 579. 34
175, 522.15
160,611.15
136, 180.53
139, 719. 98
$1, 000, 262.76
1, 63k, 644.11
782, 797.06
530,180. 92
580,732. 28
789, 961. 25
1,415,570.04
978, 047. 03
1,136, 352. 83
1,314,180.15
1,077,584.73
1, 552, 680. 34
3, 327, 246. 34
1,219,495.34
1. 390,770. 35
$9, 551, 355 77
8 988 905 73
9, 059, 947; 19
10,064, 67L 54
13,381,134. 97
14,0-24,824.87
14,452, 553.07
13, 74 5. 571..56
ol3, 322, 337. 56
12,188. 045. 05
9,359.321.16
, 10,195,617.23
7.968,919 U6
6, 525,281.91
5,419, 584. 95
1, 568, 680, 950. 00 2, 924, 791.12
18, 730, 505. 53
Deposits.
Redemptions.
$140, 874, 563. 63
177,485, 074. 44
215, 580, 27L 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
11.7,172,640.18
103, 359, 393. 61
52, 522. 359.27
43,290, 223. 72
44,916,163.37
1, 695, 755, 831.60
F O R E X P E N S E D ;,
$130, 322, 945. 00
176,121, 855. 00
214, 361, 300. 00
203,416, 400. 00
152,455, 000.00
54, 837, 600. 00
46, 844, 300.00
57, 644, 500.00
75, 452,100.00
98, 553.100.00
118, 745, 200.00
100, 794, 895. 00
51,261,200.00
43,379,185.00
44, 491, 370.00
O F NATIONAL-BANK NOTES
YEAR 1889.
DELIVERED
DURING T H E F I S C A L
' |
Packages of assorted national-banknotes, fitfor circulation,* forwarded by express to national
banks
-.
.'
....[..
14,153
Paciiages of assorted national-bank notes, unfit for circulation, delivered to thejComptroller of
tbe Currency.
i
86, 866
Total......
,
1
101,019
No. 5 0 . — E X P E N S E S I N C U R R E D I N T H E R E D E M P T I O N O F NATIONAL-BANK N O T E S
DURING T H E FISCAL Y E A R 1889.
j
Charges for transportation
.1
$42,413. 66
Cost.s'for assortiua;:
.
.
I
Salaries
•:
.;
.....^ $85,974.^65 .
Printing aud binding,
.:
i. 1, 291.21'
Stationery
".
'.
:,},772.95
Contingent expenses
L
738.40
; I
88,777.11
Total
1
131-190.67
86
REPORT ON THE
FINANCES.
No: 51.—MONTHLY R E C E I P T S F R O M CUSTOMS AT N E W YORK FROM A P R I I , 1878^
TO S E P T E M B E R , 1889, AND P E R C E N T A G E OF E A C H K I N D OF ' M O N E Y R E C E I V E D
Month.
Receipts.
1878—April (18th t o 3 0 t h ) . . . $3, 054, 364
6, 617,137
Mav
6, 065,828
June
I
Total
*
15,737, 329
Gold
Silver
Gold coin. Silver coin.
certificates. certificates.
P e r cent.
0.1
0.8
0.1
P e r cent.
95. 4
75.7
60.1
P e r cent.
2.6
15.8
32.6
4.8
0.4
73.3
19.9
1 6
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
L3'
1.2
1.5
1.4
P e r cent.
. 0.6
6.2
5.4
•
United
States
notes.
P e r cent.
L3
1.5
1.8
July
A-Ugust
...
September
October
November
December . . . . . . . .
8, 201, 698
10, 249, 469
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
Total
49,127,818
12.0
0.3
61.3
25.2
1.2
7, 659, 000
8,236, 000
9, 339, 000
8,190, 000
7, 584, 000
7, 208, 000
6.1
2.2
0.6
L3
0.9
0.6'
0.1
0.3
0.2
0.1
0.2
0.2
3.9
0.5
0.1
0.2
0.1
20.4
6.1
2.7
3.3
4.7
6.2
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
1879—January
February
March
April
....
Mn.v . . . ,
- -,
June
• Total
July
.A-Ugust
September
October"
November
.......
13.2
3L4
37.8
44.6
6L9
50.0
47.8
10
6
5
5
4
5
6L4
0.1
57.7
55.9
49.9
42.4
45.0
46.2
0.1
0.1
0.1
0.1
0.1
0.2
69,453, 000
50.4
0.1
42.9
6 6
10, 573, 000
11, 221, 000
13,196, 000
11, 684, 000
11, 051, 000
11, 013,000
47.5
44.5
47.6
44.6
45.9
39.3.
0.1
.0.1
0.1
0.1
0.1
0.1
45.1
44.1
47.1
5L6
50.9.
5.7.0
7.3
11 3
5 2
3.9
3 1
3 6
' 68,738, 000
45.0
• 0.1
49.3
5.6
12, 082,000
-. 15, 206,000
14,108,000
13,019, 000
9, 718, 000
10,973,000
38.8
43.5
37.1
35.8
62.9.
77.1
0.1
0.1
.0.1
0.1
0.1
0.1
57.9
52.860.7
62.1
33.8
18.7
3 2
3. ft
2.1
2.0
3.2
4.1
75,106, 000
47.6
0.1
49.3
3 0
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
72.9
0.1
2L2
5 8
Total
1882—-January . . . . .
...
13,393, 000
Februarv
13, 589, 000
March
1
> 14,000, 000
April
10,528,000
M a y . . . . . . . . . . . . . . 11, 986, 000
June
11,434, OOO
25.3
71, 075, 000
13, 301, 000
14,403,000
12, 859, 000
10, 575, OOO
9, 081, 000,
9,234, 000
.
1881—January
February
March
April
May
June. ...............
Total
15 0
14 9
6 0
8.0
20 6
18 2
0.2
0.1
0.1
0.1
0.2
0.1
September
October
JSovoiiiber
DeccLubcr
Total
58.7
16.5
2L8
24.9
29.7
27.1
32.9
0.2
68.3
63.2
69.0
62.2
52.1
48.8
Total
Total . . . :
21.0
19.8
11, 969, 000
12, 258, OOO
14,477, 000
11, 818, 000
9, 852, 000
10, 701,000
Julv
• July
Auffust
September
October
liTovember
December
90 1
84 5
80 7
78 5
68 6
24.1
9 6
58, 993, 000
Total...
1880—January ,
February .
March
April
May
June
L9
7.0
15.1
18.6
20.8
21.8
27.4
.23.4
74, 930, 000
0.3
.
:
8
2
4
6
9
8
87
TJREASTTPT^E.
No.
51.—MONTHLY R E C E I P T S
Month.
Receipts.
1882—July
$13,730, 000
August
=
16, 487, 000
S e p t e m b e r . . . . . . . . . . . . 14, 695, 000
13,101,000
October
9,939,000
November
10,381,000
December
Total
Total
24 3
1
34 8
7.2
4.!2
0.1
0.1
0.1
0.1
0.1
0.1
72 1
75.1
73 7
65 5
62 2
69. 4
1
15.7
[
15.9
13.1
17.7
26.1
20. 2
7.9
5.0
6.6
5.9
6 9
7.0
3.S^
I
:
«.«. ,
69, 831, 000
0.1
70 5
!
17.7
6.4
C?, J9 (
0. 1
m.&[.«-» H
^.w'i
0.1
0.1
0.1
79
73
77
75
67
71
1
1
I
1
1
j
13.0
18.0
13.9
16.4
22.5
. 19.4
5.5
6.0
5.0
4.8
6.7
6.4
«.tt»»
0.1
74 7 1
16.7
5.7
j».^l
ita. n n
^.^i
». w i
T?,<^^
*>.<««•
0.1
0.1
0.1
0.1
0.1
0.1
66
67
60
56
46
40
2 1
5 1
7
9 !
5
0
23.7
7.6
8.3
11.0
13.7
14.8
2L2
1
2
8
8
6
3
ffi.® ,
0.1
57 3
.^^,
i.c'^
*.iva
^'iPi
01
01
01
0.1
^:5
0.1
48
44
32
23
18
17
Total
64,104, 000
January . . . . . . . . . ..
February
March
1
April
Mav
June
Total
July
August
September
October
November
• December
--
Total
•
0.1
0.1
.
'
<
22.0
26.4
26.8
3.5.3
35.6
•'•
1 t
4
4
6
3
9
2 7 8
12.3
32
32
31
32
42
44
4
3
4
1
2
0
17.8
21.9
34.5
42.4
37.5
36.3
N
. . .j_
1886
18. 7
P e r cent.
8.6
5.6
5.6
7.4
9.5
6.8
ciLte .
o, 0 J
63, 882, 000
Total
32.1
16.2
1
63 9^ 1
69 1 [.
13, 111, 000
12, 828, 000
11,992,000
10, 369, 000
7,717, 000
8, 087, 000
11,821,000
. . . . . . . . . 12, 700, 500 '
i
12,167, 000
10, 771, 000
8, 730, 000
9, 935, 000
!
1
^42 2
Total
61,198, 000
[Per cent.
24 8
48.2
55.5
P e r cent.
Julv
oAueust
September
October.. . . .
November
December
Total'.
Uuited
States
notes.
0.1
11, 768, COO
1884—January
February
.* 12, 069, 000
11,447,000
March
A p r i l . . . . . . . . . . . . . . . . . 9, 850, 000
9, 289, 000
May.
9,459, 000
^' , J u n e
July
A.ugust .
September
October
November
December.
.
33. ,6
12, 574, 000
12, 194, 000
12, 435, 000
9, 199, 000
.8,155,000
13 630.000
•
'
I
68,187,000 1 .
1885—January . . . . . . . . . . . . . . 10,306,000
F e b r u a r y . . . . . . . . . . . . . 10, 461, 000
11,281,000'
March
9, 983, 000
A piil
9, 523, 000
Mav
. . . .
June
. . . . . . . . . . . . . 9, 644, 000
.,
I Silver
certificates.
P e r cent.
0.1
0.1
0.1
0.1
0.1
0.1
. . . . . . . . . . . . . . 14 609,000 \
13,290.000
September
.
. . . 12, 050, 000
October
. . . . . . . . . . . 11,616,000
N o v e m b e r . . . . . . . . . . . . 8, 928, 000
9, 338, 000
December
'
ETC.—Qoatinuecl.
P e r cent.
66.5
46.1
38.8
18.2
10.3
5.3
July.
Total
CUSTOMS,
Gold
Gold coin. Silver coin. certificates.
78, 333, 000
1883—January,
F«"bTiiary
March
April
M.iy
,
June
................
FROM
fi.^s
0.1
33 1
n. a ,
W.^<
W,-4 \
®.ni
©. S i
'•^.il
0. 1
0.1
0,1
01
0.1
0.2
26
31
39
38
43
32
®. 3 1
0. 1
36 2
© •/ 1
0. 2
0 3
0 3
0 2
6
4
7
1
0
5 1
30.4
31.7
35.4
25. 0
19.6
18.8
33. 3
36.5
27.4
23 6
13 5
9.8
11 3
, 13 4
13 8
46.7
38 2
25.8
16.9
28.4
24.7
0 1
0 3
28
47
63
70
56
60
66,124, 500
0.7;
0. s
64 6J
14.3
30.1
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
63
43
31
20
12
4
14.8
8.8
9 2
12 3
1,5.3
12.6
31.0
47.3
58.4
66.2
71 4
8L7
66, 503, 000
0.7
0.3
27 5'
12.2
59.3
0 3
0.4
0 3
0 3
0 3
0 3
2
16
67
70
69
11. 3
8.9
9 3
12 0
1.2 2
15 5
84.8
73.5
22.5
16.2
17.1
16.3
1,1.3
" 41.1
0.7
o.«
o.»
12, 606, 000
14, 834, 000
12, 944, 000
11, 583, 000
10,175, 000
10, 546, 000
0
0
0
0
1
1
72, 688, 000
0.8
7
7
6
7
1
2
Oi
;
0.3
•
8l
4i
4!
81
9i
5j
-
34 8
40 6
32.3
34 6
41.3
37.4
33.3
3'
31
6
2
2
8||
9!
5!
3,
8
3
^^ 1
46 5 1
88
H E i ^ O R T ON T H E FINANCES.
No. 51—MONTHLY R E C E I P T S FROM CUSTOMS,
Month.
Receipts.
. P e r cent.
0.9
0.4
0.8
LI
LO
L3
. 73, 428, 000
12,714,000
15, 612,'000
13, 833, 000
12,392,000
10,187, 000
9, 789, 000
United
States
notes.
P e r cent.
0.4
0.2
0.3
0.3
0.4
0.3
P e r cent.
67.8
74.2
74.6
7L6
72.4
72.6
0.9
0.3
72.3
12.8
13. 7
1.4
0.8
1.1
L2
L2
1.1
0.4
0.2
0.2
0.3
0.5
0.4
76.2
79.9
79.9
78.1
75.4
74.8
10.4
8.8
8.4
9.1
10.8
' n.o
n 6
10.3
10 4
11 3
10 1
12.7
74, 527, 000
LI
0.3
77.7
9.6
11 3
: . . 13, 509, 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
73.5
ILO
10.3
9.2
12.5
16.1
14.4
10 4
13 1
11 1
13 4
13* 0
11 1
69, 880, 484
0.7
0.3
74.9
12.1
12 0
14,163,486
. . . . . . . . . . . 13, 860, 960
12,138. 668
11, 978i 438
9,610,437
I 10, 966, 445
0.4
0.6
0.4
0.4
0.3
0.2
0 2
0.1
0.2
0.2
0.2
0.2
.83.0
87.6
. 89.1
89.5
87.2
86.3
8.3
5.5
4.4
3.6
5.4
4-1
'8 1
6 3
6 9
6 3
6.9
9 2
72, 718, 454
0.4
0:2
87 0
5.3
14, 037, 625
12, 954, 630
13,422, 511
11, 962,153
11, 096, 791
10, 697, .716
0.1
0.1
0.1
0.1
0.2
0.1
0.1
0.1
0.1
0.1
0.1
9.1
83. 0
85.1
87.5
88.8
8L5
74.5
6.2
5.3
3.1
2.7
5.9
6.5
10.6
9 4
9.2
8.3
12.3
18.8
74,171, 426
0.1
0.1
83.7
4.9
n.2
13, 791, 000
13, 324, 514
12. 015, 653
0.1
0.2
0i2
0.1
0.1
0.1
85.6
86.5
89.7
3.8
2.9
2.1
10.4
10.3
7.9
1887—January
February..'.
March ,
April
May
Jnne
Total
Julv
A11 gu at
, .......
September
October
November.
.......
December
Total
1888—January
February
March....
April.:
May
J une
Total
July
August.
September
October
November
December
Gold
Silver
certificates. certificates.
Gold coin. Silver coin.
$11, 808, 000
13,1.12, 000
14, 212, 000
11, 556, 000
10, 900, 000
11, 840, 000
ETC.—Continuecl.
P e r cent.
16.2
10.1
11 4
13.4
14.1
12.0
•
P e r cent.
14.7
15.1
13.0
13.6
12.1
13 8
•
Total
1889—January
February
March
0
April
May
Juiie.
*.
Total
Augnst
Septeoibcr
'
o
7I
No. 52—SHIPMENTS O F S I L V E R COIN FROM TREASURY OFF:£CES AND M I N T S , FROM
J U L Y 1, 1885, TO J U N E 30, 1889, I N C L U S I V E .
F r o m J u l y 1,1888, t o J u n e 30,1889.
Office.
S t a n d a r d dollars.
AVashinffton
. . . .
Baltimore
N e w York
Fhiliulelphia
Boston
.. . . . . . •
Cliicjigo
St 1 ouis
....
.
^
.....
$792, 956. 72
287, 325. 00
2, 270, 489.55
6, 800. 00
2,206, 636.10
2, 406,478.33
3, 90f, 264.11
2,787,746.20
9, 960. 00
Fractional
silver.
Total.
S i l v e r coin
s h i p p e d from
J u l y 1,1885
t o J u n e 30,
1888.
Total.
$428, 736, 76 $1, 221, 693.48
190, 840.00
478,166. 00
1,193,189. 41 3, 463, 678. 96
1,108, 862. 30 1,115, 662. 30
872, 246. 85
3, 078, 882. 95
87.5,488.11
3, 281, 966. 44
5, 325, 606. 25
1,417,342.14
3,729, 590.35
941, 844.16
761, 719. 25
. 751,759.25
$2, 798, 708. 76
1, 540, 993. 93
13, 876, 080. 91
2,-893,146.16
10, 790, 526. SO
8, 735, 379.47
1.5, 019, 741.22
9, 513, 630. 74
3, 010, 571. 67
$4, 020, 402. 24
2, 019,158. 93
17, 339, 759. 87
4, 008, 80H. 46
13,869,409.75
12,017, :<45. 91
20, 345, 347. 4 7
13, 243,121. 09
' 3, 772,290.92
90,635,644.^4
14, 676, 656. 01
7, 780, 308. 97
22,456, 964. 98
68,178, 679.66
San F r a n c i s c o
2, 352, 345. o'o
541,469. 00
2,893, 814.00
6,03.5,355.00
8,929,169.00
Mint, Philaflelphia . . . . . . . .
Mint, N e w Orleans
M i n t , San F r a n c i s c o
2, 603, 945.70
,6,794, 550. 00
4, 000. 00
6,660.06
2, 607, 945. 70
8, 773, 622.13
6, 794, 650.00 19, 298, 591. 55
6, 000. 00 ^ 3,458,500.00
11, 381, 467. 83
26, 093,141.65
3,464,500.00
9, 398, 495. 70
10,000.00
9,408, 495. 70 j 31, 530, 613. 68
40,939,109.38
8, 331, 777.97
34, 759, 274. 68^ 105, 744, 648.84
140, 503, 923. 02
Total
Total
T o t a l h i p m e n t s — 26, 427, 496. 71
89
-TREASURERO
No,
53.—SHIPMENTS OF S I L V E R C O I N SINCE J U N E 30, 1885, F R O M T H E T R E A S U R Y
O F F I C E S AND M I N T S , AND CHARGES T H E R E O N F O R TRANSPORTATION.
Period.
F r o m T r e a s u r y offices e a s t of t h e
R o o k y M o u n t a i n s , as p e r bills
rendered.
Amount.
Charges.
F i s c a l y e a r 1.886..
F i s c a l y e a r 1887..
$21,805,109.81
23,112, 760.02
$29, 774. 76
31,466. 96
1887—July
August —
September.
October . . .
November .
December
1888—January . . .
F e b r u a r y ..
March . . . . .
Apiil
. May
Juue
1, 945, 583. 99
2, 694, 881. 69
3, 533, 255. 63
2, 916, 1.64.47
2,403, 198.69
2, 032, 238. 31
863, L34. 64
1,117, 640. 05
1, 339, 17L71
.1,313, 247.26
1, 387, 103.62
1, 715, 189. 77
F i s c a l y e a r 1888..
23, 260, 809. 83
1888-July.
August
September.
October
November ,
December..
1889—January ..,
February .
March..".. .
April
.,
May
Juiie
,
1, 657,057. 60
2, 361,917.73
3,141,210. 62
3,125,278. 28
2, 046,179. 77
2,144, 713. 60
721, 822. 52
1, 083,935. 87
1,440, 421.39
1,449, 200. 45
1, 49.5,679. 80
1, 789,547. 35
F i s c a l Y e a r 1889
22,456, 964. 98
jFrom mints.
Per
$1, 000.
1.36
Charges.
$10, 960, 927. 76
9,973,642.82
$33, 537.58
18, 055. 37
Per
$1,000.
$3.06
L81
1.73
1.49
LOO
1..55
1.42
L50
L16
L24
L35
L29
L35
L31
384, 998. 20
832,997.15
2,179, 993. 95
2,135:987.10
1, 787,497.40
1,149, 99$. 65
339, 997. 00
316, 494. 25
399,197.25
349, 994. 60
354,395. 65
364, 494.90
680.19
1, 809. 97
3, 487.47
3, 0 ^9. 90
2, 701.95
1, 601.15
445. 93
423. 66
485. 38
417.37
480. 23
497. 26
1.77
2.17
L60
1.41
L51
L39
1.31
L33
L21
L19
L35
L36
34, 070. 67
L46
10, 596, 04^. 10
16, 060. 46
L51
2, 076.42
3,129.16
5, 204. 91
5, 173 59
2, 882. 74
3,105. 61
2, 080.48
1,349.66
1, 926. 67
3, 993. 97
1, 795. 63
2,141.48
L25
1.32
1.66
L65
L40
1.45
2.88
L24
L34
2.75
L20
L20
329, 996. 50
606, 495. 70
1, 604,496. 00
1, 790,539.40
1, 327,490.15
1,396, 995. 20
306, 997.40
351, 499. 00
420, 49h. 00
371, 996. 35
480, 997. 70
420, 49(7. 30
431.43
. 986.05
2,763.61
2, 980. 24
2, 014.10
2, 281. 75
408. 34
518. 85
.681. 5J0
479. 68
586. 26
553. 31
L31
L62
L72
L61
L52
1.63
L33
L48
L38
L32'
L22
L31
34, 860. 22
L65
9,408,495.70
14, 585. 02
L55
3, 355.22
4, Oil. 85
5, 660. 534, 537. 69
3,425. 57
3, 048.15
1, 005. 56
1, 384.12
1, 806. 59
1, 700. 91
1, 879. 04
2, 255.44
From sub-treasury at San Francisco, a s p e r bills r e n d e r e d .
. Total.
Period.
F i s c a l y e a r 1886.
F i s c a l y e a r 1887.
Amount.
Charges.
Per
$1,000.
Amount.
Charges.
, $795,000.00
2,110, 500.00
$4, 508. 65
12, 831.05
$5.67
6.08
$33, 561, 037.57
35,196, 902. 84
$67, 820. 99
62, 353.38
$2. 02
L77
2.23
2.12
L89
L79
L72
L86
L90
L70
L91
L78
L90
L94
Per
$1,000.
1887—July
August...
September
October...
November
December
1888—January I .
February .
March
April
May
June
317, 240.00
395, 740. 00
> 364, 250. 00
289,400. 00
227,250.00
268, 770. 00
169, 990. 00
143, 710. 00
249, 920. 00
' 219,140. 00
209,325.00
275,120. 00
1, 86L 65
2, 483. 00
2, 376.10
2, 020. 66
1, 479. 90
1, 759. 20
1,152.10
879. 50
1, 512.70
1, 232. 85
i, 342. 05
1, 826. 85
5.86
6.27
6.52
6.98
6.51
6.17
6.77
6.12
6.05
5.62
6.41
6.6^
2,647, 822.19
3, 923, 6i8.84
6, 077, 4(^'9. 58
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, 354, 804. 67
5, 897. 06
8,304.82
11,624.1.0
9, 588 24
7, 607. 42
6,408. 50
2, 603. 69
2, 687. 28
3, 804. 67
3, 351.13
3, 701. 32
4, 579.55
F i s c a l y e a r 1888.
3,129, 856.00
19, 926. 55
6.37
36, 986, 707. 93
70, 057. 68
LS
1888—July
August
September
October...
November
December.
1889—January . .
February .
March . . . .
April
May
,
June
,
297, 980.00
317, 040.00
314,110. 00
298, 930. 00
240, 810.00
209, 800.00
125, 480. 00
176, 920.00
180, 050.„00
215,180.00
212, 255. 00
306, 259. 00
2, 033. 35
2, 050.10
2,157. 70
2, 478. 35
1, 777. 75
1, 465. 85
790.35
1, 099. .55
1, 081. 20
1, 373. 30
1, 50L 55
2, 055. 05
6.47
6.87
8.29
7.38
6.99
6.30
6.21
6.01
6.38
7.08
6.73
2,285, 034.10
3, 285,4.^3. 43
6, 059,8li6. 62
5, 214,747.68
3, 614,479. 92
3, 751,508.80
1,154, 299. 92
1, 612,354. 87
2, 040,966.39
2, 036,376. 80
2,188, 932. 50
2, 515,303.65
4, 541. 20
6,165. 31
10,126. 22
10, 632.18
6, 674. 59
6, 853. 21
3, 279.17
2, 968. 06
3, 589. 37
5, 846. 85
3, 883. 34
4. 749. 84
L99
L88
2.00
2.04
L85
L82
2.84
L84
L76
2.87
L77
L89
M s c a l y e a r 1889.
2,893,814.00
19, 864.10
6.86*
34,759, 274 68
69,309. 34
90
REPORT ON T H E FINANCES.
No. 5 4 . — U N I T E D
STATES NOTES I N T H E TREASURY AND CERTIFICATES OF
DE-
POSIT, A C T OP J U N E 8, 1872, I N T H E T R E A S U R Y AND I N CIRCULATION, AT
END OF E A C H M O N T H , F R O M M A R C H , 1878, T O S E P T E M B E R , 1889.
THE
Month,
1878—March
April
May.....
June
July
•
August
September...
October
November..
December . .
1879—January....
February...
March
April
May
June.o
July
August
September..
October
November..
December . .
1880—January
February...
March
' April
May,....=..
June
July....
August
September.October
^ November . .
December . .
1881—January... February...
March
April
May.o..:..June . . . . . . .
July
August
September .
October
November..
December . .
1882—January
February...
March
April
May
June
July
....
August
September..
October
November..
December,..
1883 January
February...
,,
March..".,..
April
May
June
...
July
August
September .
October . . .
November..
December..
1884—January
February...
March
April
May
Total United
Certificates
States notes in of deposit in
Treasury.
Treasury.
$47, 327, 341.75
49, 521, 372.12
56, 695, 892. 66
62, 020, 120. 73
67,105, 859.19
68, 348, 264. 36
63, 049, 339. 67
64,175, 605. 84
63, 665, 404.16 '
59, 582, 505. 38
62, 463, 706. 94
72, 650, 231.66
67, 375, 677. 54
61, 998, 485.16
69,142, 335.67
66, 015, 969. 62
63, 791, 465. 73
70,697, 606. 37
48,173, 254.41
37, 522, 667. 20
29, 973, 4.54. 09
22,660, 493. 88
24, 299, 562. 45
26,149, 093.12
24, 080, 080. 79
26,474, 279. 79
30, 833, 019.97
33, 020, 559.11
34,099, 123. 52
31, 649, 849. 33
27,148 612.89
22,418, 992.71
19, 574, 937. 36
15, 741, 818. 06
19,1.81, 616.36
22, 206, 600. 62
21, 338, 197. 63
22, 927, 086.33
26,922, 304.87
30,204. 092.45
29, 624, 909. 88
29, 320, LOI
27,130, 132.07
26, 281, 768. 66
26, 401, 078.19
25, 992, 799.99
28, 714, 394.46
29, 701, 850.17
28, 371, 415.21
28,627, 824.31
31, 938, 690.18
34, 670, 689. 08
34, 969, 589. 86
36, 883, 940. 65
31, 948, 158.41
29,689,,196.17 I
30,591,, 392. 21
28, 464,., 394.86
33,692,5, 236. 55
32, 744,:, 817.28
29, 878,, 56L 26
30,969,I, 623. 27
33,471,i, 824.57
36, 498,], 839.42
37, 632, 646. 03
37, 791, 765. 88
37,194, 420. 01
37,113, 037.33
39, 874, 644.36
39, 644, 248.72
42,156, 188. 89
45, 808, 6'32.26
45. 904, 6.52.22
45, 765,,833.28
38,731,., 840.75
$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, 680,000
1,140, 000
1,165, 000
1,450,000
590, 000
960, 000
1, 975, 000
2,31.5,000
685, 000
425, 000
215, 000
670, 000
176,000
175, 000
600, 000
360, 000
590, 000
•10.5, 000
90, 000
150, 000
75, 000
26,000
326, 000
240, 000
40. 000
275, 000
215, 000
175,000
210, 000
35,000
65, 000
50, 000
70, 000
106, 000
216 OOO
126, 000
265, 000
75, 000
510, 000
185, 000
130,000
110, 000
10,000
10, 000
60.000^
2.10, 000
250, 000
55, 000
15, 000
316, 000
25, 000
90, 000
75, 00075, 000
100, 000
80, 000
46, 000
90, 000
620, 000
106, 000
20,000
Certificates
of deposit in
circulation.
Net United
States notes in
Treasury.
$22, 585, 000
27, 835, 000
36, 955, 000
46, 245, 000
61,120, 000
47, 815, 000
39, 545, 000
36, 660, 000
35, 070, 000
33,190, 000
40, 445, 000
36, 675, 000
25,145,000
30, 905, 000
25, 880, 000
29,355,000
40,250, 000
34, 375, 000
29, 240, 000
20,19.5, 000
13,585, 000
10, 090, 000
12, 685, 000
11, 095, 000
8, 320, 000
8, 985,000
12, 650, 000
14,235,000
15, 075, 000
11, 206, 000
9, 885, 000
8. 625, 000
8, 450, 000
6, 980, 000
8, 630, 000
7, 640, 000
6, 565, 000
8, 265, 000
10, 860, 000
11, 650, 000
10, 525, 000
9,450, 000
8,105, 000
8, 276, 000
8, 990, 000
9, 640, 000
11, 330, 000
11,445, 000
10, 925, 000
10, 990, 000
12, 065, 000
13 245, 000
12,220,000
. n , 815, 000
10, 540, 000
9, 835, 000
9, 835, 000
9, 575, 000
12, 430, 000
11,130, 000
9, 465, 000
10, 050, 000
11, 790, 000
13, 060, 000
12, 885, OOO
12, 055, 000
11, 870, 000
12, 54b,'000
14, 36.5, 000
14,480. 000
16, 835, 000
18,125, 000
14, 955, 000
14, 920, 000
11, 030, 000
$24, 742, 341. 75
21,686,372.12
. 19, 740, 892.66
15, 775,120.73
15, 985,8.59.19
20, 533, 254. 36
23, 504, 339.67
28, 515,605. 84
28, 585,404.16
26, 392, 505. 38
22, 018, 706. 94
35. 975, 231. 65
42, 225, 677.54
31, 093, 485.16
43, 262, 335. 67
36,660,969.62
23, 541, 465. 73
36,222,606.37 •
18, 933, 254.41
17, 327, 567. 20
16,388,4.54.09
12, 570, 493. 88
11,614,562.45
15,0.54,093.12
15, 760, 080.79
17, 489, 279. 79
18,183,019.97
18, 785, 559.11
'19, 024,123. 52
20,444,849.33
17, 263. 612. 89
13,793; 992. 71
11,124, 937. 36
8, 761, 818. 06
10, 651 616. 35
14, 566, 600. 52
14, 773,197. 63
14,672,086.33 '
16, 062, 304.87
. .18,564,092.45
19,099,909.88
19, 870, 869.01
19, 025,132.07
18, 006, 768. 66
17, 411, 078.19
• 16 4.52,799.99
17, 384, 394.46
18, 256, 850.17
17,446,415. 21
17, 637, 824.31
19,873,690.18
21, 425, 589. 08
22, 749, 589. 86
24, 068, 940.65
21, 408,158. 41
19, 854,196.17
20, 756, 392. 21
18,879, 394. 86
21,162. 236. 55
21, 614, 817.28
20,413,561.26
20, 919,623. 27
21, 681, 824.57
23, 438, 839. 42
24, 747,646. 03
26,736,765.88
25, 324,420.01
• 24,568,037.33
25, 509, 644. 35
25,164, 248. 72
25,321,188.89
27, 683, 632. 26
30, 949, 652.22
30, 845, 833. 28
27,701,810.75
91"
TREASURER.
No. 54.- - 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 C E R T I F I C A T E S OF D E POSIT, A C T OF J U L Y 8, 1872, ETC.—Continued. '
Month.
1884-June
July
A u g u s t -^..
September
O c t o b e r . VNovember,
December .
1886—January . .
February..
March •...
April..—
May
June
July
August—
September.
October . . .
November
December .
1886—January . .
F e b r u a r y ..
March.-..
April.
May -...—
June
July
August...
September
October ..
November
December.
1887—January . .
February.
March
April
May
June
July.
.
August
September
October—
November
December.
1888—January . .
Februai'y .
Marc'h
April
• May
June
. July
August...
September
October...
November
December
1889—January . .
February .
March . . . .
April . . . . .
May
June
July
August...
September
T e a l United
Sta..es n o t e s i n
Treasury.
lb3,80L75
727 989.53=
843, 553.62
624, 872.86
942,171.85
200,683.43
499,576.42
958,468.83
926,821.63
683, 288.39
866, 690.08
417,109.15
047,378.94
418, 996. 74
658, 656.00
129, 332.35
696,341.31
290, 642.91
731,200.11
890, 388.92
197,29L92
214,484.54
, 603, 774.09
244, 098.33
118,316.79
044,142.44
774, 647,22
224, 080.83
107,306.27
573,188.34
679, 326. 78
003,681.60
869,201.91
294,937.58
575,473. 87
757, 376. 30
783, 796. 79
093, 739.92
287, 538. 90
145.212.17
476, 066. 74
153, 220. 39
409,424. 94
660,468. 63
482, 086. 72
085,622. 59
046, 614. 30
158,199. 81
398,204. 07
030,739. 84
225, 392. 78
358,963.25
393, 320.20
562,956. 22
125, 859. 86
361.498.18
220, 510.-98
501, 231.12
350,136.89
940, 387.13
336,085.23
939, 366. 31
870, 935.08
445,258.22
Certificates
of d e p o s i t i n
Treasury.
$195, 600
65, 000
160,000
315,000
85, 000
120, 000
160, 000
45, 000
380, 000
1, 005, 000
60, 000
316,000
200, 000
260, 000
696, 000
. 696, 000
410,000
210, 000
266, 000
260,000
385, 000
840, 000
225, 000
585, 000
260,000
470,000
1, 610, 000
160,000
. 20,000
280, 000
200,000
100, 000
250, 000
410,000
160,000
410,000
310,000
350, 000
420,000
150, 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
390,000
150, 000
470, 000
95, 000
280, 000
510,000
110, 000
270, 000
240, 000
30,000
460,000
770, 000
Certiflcattes
of deposift i n
circulation.
N e t United
States notes in
Treasury.
I
$12,190, 000
13,165, 000
14,270,000
15,63Q, 000
17. 77Q, 000
22, 575, 000
24, 760, 000
30, 085, 000
30, 200, 000
26, 210, 000
25, 40Q, 000
26, 925, 000
29, 585, 000
31,420,000
30,865,000
23,185,000
18,145, 000
17. 555, 000
13, 790, 000
14,590, 000
14,926,000
11,925,000
11, 515, 000
13, 9.55, noo
' 18,25:0,000
19,105, OOO
11,195,000
7, 7(^6, boo
7,740, 000
7,026, 000
6, 610, 000
8, 720, 000
8,180, 000
7.135, 000
8, 350, 000
8,990, 000
8, 770, 000
8,460, 000
7,130, 000
6, 535, 000
7, 215,000
6. 835, 000
6,985,000
10, 645, 000
11,215,000
8, 915,000
10,5'55,000
12., 230, 000
14,415,000
15,2'05, 000
14, ^45,000
12,730, 000
11, 580, 000
11, 360, 000
10,250, 000
13, 915, 000
15,.920, 000
14,450; 000
14, 580, 000
16, i50, 000
16, 735, 000
17, 575, 000
16,545,000
' 15,275,000
$27,093, 801.75
29, 562,989.53,
26,573, 553.52
20, 894,872. 86
16,172, 171.85
9, 625,683.43
11, 739,57.5.42
13, 873,468.83
18. 726,821 53 '
20,473, 288.39
21, 465,600. 08
23, 492,109.16
15,462, 378.94
16, 998,996.74
24, 793,656.00
27, 944,332.35
27, 650,341. TA
25, 736,642.91
27,941, 200.11
33,300, 388.92
32,277, 291.92
30. 289,484.64
26, 088,774.09
26, 289,098.33
22, 868,316. 79
21, 939,142.44
35, 679,647.22
36, 519,080. 83
30, 967,305.27
29, 648,188. 34
23,169, 326.78
24.283, 681. 60
26, 689,201. 91
21,159, 937.58
20, 225,473. 87
21,^67, 376. 30
20, 013,706. 79
19, 633,739. 92
21,157, 538. 90
17,610, 212.17
15, 261,066. 74
16, 318,220.39
15, 424,424. 94
18.015, 468. 63
22, 267,086. 72.
24,170, 622. 59
28,491, 614. 30
33, 928,199.81
37, 983,204.07
39,825, 739.84
41, 580,392. 78
40,628, 903.25
36, 813,320.20
35, 202,•956. 22
. 30,875,859.86
29,446, 498.18
29, 300,510.98
25, 051,231.12
23, 770,136. 89
27, 790,387.13
29,601, 085.23
30, 364,366. 31
32, 32.5,935.08
21,170, 258.22
92
REPORT ON T H E If^lNANCES.
No. 55.—AMOUNT O F GOLD COIN AND B U L L I O N I N T H E T R E A S U R Y , AND O F GOLD
CERTIFICATES OUTSTANDING, AT T H E E N D of EACH M O N T H , FROM M A R C H , 1878,
TO S E P T E M B E R , "^'^'^
Month.
1878-March
April . . . . .V
May
.Juno
July
Augusr....
, SepteruberOf'tot-er
November .
December .
1.879—January . . .
February . .
March
April
M ay
Juno
July
August
September.
October
"November..
December.1S80—Tauuary . . .
February . .
March . ' : . . .
.\pril
May
June
July........
AugUST.
September.
October.-..
November .
December..
1881—January . . .
s
February . .
March
April
May
June
July-.^
August
September.
^
October
November .
' December .
1882—January...
February . .
March
April
May
June
July
August
September.
October —
November.
December .
1883—January . . .
February . .
March . , . . . .
April..
May
June
July
August
September.
'. October
November.
• December .
1884—January . . .
February..
., M a r c h . . . . .
April
Total gold
Gold certificates
in Treasury, coin
in the Treasand bullion.
ury cash.
$120,106, 317.17
120,012, 781.64
•122,917, 907. 88
128,460, 202.87
132, 014,619.41
134, 548,036. 53
136, 036.302. 20
140, 872.154. 79
142, 400,135. 29
135, 382,639. 42
133, 756,906. 65
133,265, 559. 43
133,416, 125. 85
134, 520,140.48
136, 680,•2G0.14
135,236, 474. 62
135, 617,483. 25
141, 546,390. 52
169, 606,995. 03
171,517, 713. 65
160,443, 436.80
157, 790,321.84
153, 690,026.43
146, 760,758.04
144, 010,651. 50
138. 783,440.08
128, 709,496. 51
126,145, 427.20
123,126, 645.54
127, 679,279.45
135, 244,833. 65
140,726, 952.74
151, 362,519.38
156, 742,095. 77
154,644, 209.15
173, 038,253. 01
173, 668,163.08
170, 319,754.53
163,770, 168.17
163.171, 661. 25
164,911,475.21
169,495, 521.94
174, 361,344.52
172, 989.829.17
178, ^ 5 , 303.41
172, 617,467.38
165,162, 788.62
173,767, 874. 07
166,457, 366.93
155, 069,102.18
153,985, 645.28
148, 506,389.95
146,079, 030.31
149, 303,920. 69
152, 739,106.43
1.59, 806,743.64
164,267, 684.64
171, 504,668.39
. 173,317,834.35
177, 661.630.86
184, 752,713.90
187, 837,44L93
193, 310,043.00
198, 078,567. 68
202,774, 035.16
204.172, 975.33
206,130, 543.10
209,429, 939.90
216,133, 327.54
219, 014,739. 63
221,813, 356. 49
221,881, 633.11
211, 071,506.97
196, 325,626. 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,^01, 520
9, 846,120
391, 420
544,020
400,220
60, 740
62,140
33, 680
133,880
43, 800
120, 000
67, 700
213,400
183, 740
740, 960
61,100
327, 300
611,600
173, 800
39,800
40, 700
\32,'600
36, 800
81, 600
6,800
19,120
130,500
50, 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
1,000
2,500
8,100
1, 50P
14, 990,170
15,950,270
25.106, 030
26.107, 300
32, 296,270
31, 625,210
32, 935,420
23, 869,000
22,671,270
23,388,440
28,446, 200
27,480, 300
31, 252, 760
27, 036, 300
27,446, 780
23, 788, 000
30, 600, 070
35,424.250
44,415, 395
39,686,780
Gold certificates in circulation.
$50, 704,200
45, 948,840
21,246,300
24, 897, 680
23, 852, 980
17,222, ] 80
23,433, 680
22,906,480
24,117, 780
21,189,280
17, 082, 680
16, 379, 280
16,'253, 960
15, 710,460
15,380,120
15,279,820
16,196, 900
15, 008,70014, 843, 200
14, 377, 600
13,195,460
11, 596,140
10, 350, 000
9, 755, 300
8, 244, 000
8, 056, 800
8,010, 300
7, 963, 900
7, 852, 000
7, 661,100
7,480,100
7,447,700
7,381, 380
6, 528, 380
6,491,400
6,229,400
6, 028,900
5,961, 200
5, 876, 280
5, 759, 620
5, 748,120
.5,397,120
5, 239, 320
5,204, 220
6,199, 620
5,188,120
5,180, 220
5,172, 320
5,166,920
5.071,120
5, 062, 920
5, 029,020
5, 016,440
4, 992, 040
4, 907, 440
11, 370, 270
19,468, 270
39, 514,810
47,669, 640
42,654,470
43,444, 510
48, 398, 200
59,691, M O
59, 807, 370
60, 068,600
54, 547, 540
56,014,940
52. 076,180
58, 897, 620
63, 686,140
77,462, 620
77,843,430
68, 812,160
56, 700,805
59,125,480
Net ffold in
Treasury, coin
and bullion.
$69,402, 117.17
74, 063,941.64
101, 671,607. 88
103,662, 522. 87
108.161, 639. 41
117, 325,850. 53
112,602, 622. 20
117, 965,674. 79
118, 282.355. 29
114.193, 359.42
116, 674,226. 65
116,886, 279.43
117.162, 165. 85
118, 809,680.48
121, 300,140'. 14
119, 956,654. 62
120, 320,583. 25
126, 537,690. 52
154,7iG3, 795. 03
157,140, 113. 65
147,247, 976. 80
146.194, 181. 84
143, 340,026.43
136, 995,458.04
135, 766,551.60
130, 726,640. 08
120, 699,196. 51
118,181, 527. 20
115, 274,645. 54
120, 018,179. 45
127, 704,733. 65
133,278, 252. 74
143, 981,139. 38
150, 213,715.77
148, 052,809.15
166, 808,853.01
107, 639,263. 08
164, 368,554.53
157, 89.3,878.17
157, 412,141. 25
149.163, 355. 21
164, 098,401.94
169,122. 024.52
167, 785,609.17
173, 025,683.41
167,429, 347.38
169, 972,568. 62
168, 585,554. 07
161, 290,436. 93
149, 997,982.18
148,932, 625.28
143,477, 369. 95
140, 062,590. !31
m , 311, 880.69
147, 831,666. 43
148, 436,473. 54
144, 809.314. 64
131, 989,758. 3'0
125, 648,194.35
135,107, 160. 86
141,308, 203.90
139,439, 241.93
133, 718,103. 00
138,271, 197. 68
142,705, 435.16
149, 625,435. 33
151,115, 603.10
157, 853,7.59.90
157, 235,707. .54
155,429, 599. 03
144, 350,736.49
144, 038,203.11
.142,259, :<56. 97.
139, 024,820.72
142, 006.908. 01
93
TEEASUEER.
No. 55.—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 ,
CERTIFICATES OUTSTANDING, ETC.—Continued. ;
Month.
T o t a l gold
Gold certificates
i n T r e a s u r y , coin
in t h e T r e a s a n d bullion.
u r y cash.
1884—June
,
July
August
September...
October......
November...
December—
. 1886—January
February —
March
April
May
June
July.
August
• September..,
October......
November..
December—
1886—January......
• February ...
March
April
May
June
July
August
September...
October
November...
December...
1887—January
February —
March
April
May
Juiie
July
August
September..
October
November ..
December...
1888—January
February...
M a r c h .'.
April
.'..
May....
June
July
:
August
September..
October
November ..
December...
1889—January
. February ...
March
Anril
May
June
July
August
September..
$204, 876, 694.16 .
210, 539, 660.98
214,483,667.17
217,904,042.81
222, 636, 360.43
231, 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. 643. 59
247, 028,"626.25
249,367,695.20
250. 257, 417. 89
251,251,11.4.54
2.51,359,349.29
2.51,946,678.13
253, 351,409. 48
251,371,561.68
249,801,087.63
242, 165,167. 40
240, 680, 532.67
236, 424, 734. 21
232, 838,123. 91
233, 651, .522.45
235, 430, 635.24
242, 609, 018. 37
246,832,148.40
254, 460, 863. 57
268,128, 018.47
274,140, 468. 85
276,088,626.45
275, 986, 862.15
27.5, 336, 915.90
277,628,760.47
278,101,106.26
281,296,417.45
282, 039, 533.67
290, 702, 629. 70
302,644, 605.45
302, 661, 278.68
305, 342,187. 07
307, 809,155.27
309, 567, 826. 88
310. 772. 202. 03
312,801, 287.15
309,882. 868.81
313, 753, 616. 89
326, 551, 392. 34
331,133,430.44
332, 551, 305.62
331, 688, 233.11
328, 603, 361.29
324, 773, 666.56
325, 641, 866.12
326,456, 697.81
226, 700, 938. 96
. 328,203,900.80
321, 297, 376.96
^03, 604, 319. 58
300, 759, 572.98
304, 048,189. 30
, 305, 871, 772.02-
$27, 246, 020
26,625,830
29, 701, 980
33,546, 960
32,477, 750
26, 701, 060
26, 343, 730
22, 299,150
40,426, 930
37, 689, 990
28,626,290
14,371,3,50
13,693,410
17, 322, 320
16, 606,230
22, 249, 240
31,116, 850
34, 492, 968
34,360, 479
24, 060, 709
33, 671, 010
46, 797, 927
62, 396, 876
61.735,670
56,129,870
62, 268, 360
48. 693, 980
40, 664, 320
36,878,468
34, 469, 694
27,485, 804
18, 843, 632
24,256,230
29, 757, 610
28, 905, 040
32,101, 358
30, 261, 380
18, 098, 560
23, 008, 207
29,154,288
32, 858,168
39,974,838
31, 010, 394
20, 668, 210
26,962,168
29, 651, 464
20, 863, 600
33, 574,110
22,135, 780
30, 234, 688
36, 591, 356
26,516,410
26,163, 492
37,441, 932
36,127, 702
25, 043, 518
24, 802,813
26,686,125
20, 783, 433
27, 350,140
37, 235, 793
34, 669, 943
39, 557, 233
42,073, 803
G o l d certifif
c a t e s i n circulation. I
1
$71, 146, 640
91, 491.490
92, 017, 9!40
87, 389, 660
87, 866,670
93, 374, 290
93, 287, 4^0
111, 980, 380
112. 683, 290
115, 967, 540
126, 234, ^00
128, 663, 010
126, 729, 730
123, 289, qoo
123, 885,490
118, 137,790
109, 020, 760
'10.5, 564, (|92
106, 359,601
115, 284,951
105, 637, 050
90, 775, 643
84. 715 225
80, 120, 026
76, 044, 375
74, 718, 517
77, 698, 347
84, 691, 807
88: 294,969
90, 520, 633
97, 215,605
106, 665,107
99, 958, 365
94, 046, 015
94, 434, 485
90, 960, 977
91, 226, 437
94, 990, 087
765. 340
984, 683
684,'[773
90, 780, ,753
96, 734, p57
104, 853, 971
96, 697, 913
91, 953, i949
99, 661, 293
109, 581, [730
119, 887, ;370
131, 959,fll2
124, 750,1394
134, 838,(190
140, 613,^658
129. 264,i228
888,!448
120, 986,1592
130, 210,1717
130, 826,(017
128, 614, i 789
136, 044,1662
129, 792,; 759
116, 541,1409
118, 393,1519
123, 675,|349
116,
AND OF GOLD
.^
N e t gold i n
T r e a s u r y , coin
a n d bullion.
$133, 729,954.15
119,048; 060.98
122,466, 717.17
130, 614 382. 81
134, 670,790.43
138,016,!070.85
141,688, 431.95
125,187, 695.84
127, 346,653.24
125. 473,256. 37
117, 927,394. 81
116,810, 533. 59
120, 298,895.25
126, 078,595.20
126,371, 927. 89
133,113. 324. 54
142, 338,689. 29
146, 391,480.13
147, 991,808.48
136, 086,610.68
144,164, 037. 63
151, 379,624.40
166, 866,307.67
166, 304,709.21
166, 793,748. 91
168, 933,006.45
167,732, 288.24
157, 917,211. 37 ^
158,637, 179.40
163, 930,220. 57
170, 912,, 413. 47
168, 475,361.85
175,130, 261.45
181, 939,847.15
180, 902,430.90
186, 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, 608,130.07
202, 955,184.27
212, 869,913. '88
218,818, 253.63
213, 239,994.15
200, 301,128.81
193, 866,246.89
194, 692,280. 34
206, 383,036.44
19^^, 713,116.52
191, 074,675.11
199, 339,133. 29
203, 885,218. 56
194, 655,264.12
196, 245,980. 81
197, 874,421.96
191, 589,11L80
192, 252,714. 96
186, 711,560.68'
182, 218,163. 98
180, 654,670. 30
189,196. 423.02
94
REPORT ON T H E FINANCES.
No. 56.—AMOUNT O F STANDARD S I L V E R DOLLARS C O I N E D , I N T H E T R E A S U R Y ,
AND IN C I R C U L A T I O N , A N D O F S I L V E R C E R T I F I C A T E S O U T S T A N D I N G , A T T H E E N D
OF E A C H M O N T H F R O M M A R C H , 1878, T O S E P T E M B E R , 1889.
Month.
Silver
Standard
Silver
Standard
certificates certificates
silver dollars silver dollars in the Treas- in circulain the
coined.
tion.
ury cash.
Treasury.
, 1878-March . . . .
$1, 001,600.
3, 471,600
April
6,486, 600
May
8, 673, 500 •
June.
10,
420, 500
July.:
13,448, 600
August:...
16,
212,500
Septeuiber.'
18,282,500
October....
20,438,550
. November..
22, 495, 550
December..
24, 655, 750
1879 —January . . .
26, 687, 750
February..
28, 774.950
M;nc.b . . " . . .
31,155,950
/
April
33,485,950
May
35, 801, 000
Juiie
37, 461, 000
July
40, 238, 050
August
42,
634,100
Siptember..
45, 206,'200
October..
47,
705,'
200
November . .
50, 055, 650
December .
52,
505,
650
1880—January . . .
54, 806, 050
i'ebruary . .
57,156,250
Mnrch.l...
59, 456, 250
' April
61, 723, 250
May
63,734, 750
Juue
66, 014, 750
• , July....,.,.
68,267, 750
August
70, 668, 750
September..
72, 847, 750
October...
75,147,750
November
77, 453, 005
December
79, 753, 005
1881—January
82, 060, 005
'
February.
84, 359, 505
March
86, 669, 605
April
.88, 959,505
May
91, 372, 706
June
93, 622, 706
July
95,922,705
August...
98, 322, 706
September
100, 672,706
October...
102,972, 705
N o v e m b e r . . 105, 380, 980
December .
107, 680, 980
1882—January . . .
109, 981,180
February..
112, 281, 680
March
114i 681, 680
116, 843, 680
April
119,144, 780
May
121, 304, 780
June
123, 729, 780
July
126, 029, 880
August
128, 329, 880
September..
130, 629, 880
October
N o v e m b e r . . 132, 955, 080
December . . 135,405. 080
137, 806, 080
1883—January
140, 205, 699
February...
142,555,699
MarcH
144,905. 699
April
147. 255, 899
May
149,
680, 899
June
152, 020, 899
July
154,370,
899
August
September. ' 166, 720, 949
169,
070,
949
Octbber.-..'
161,425,119
November.
Pecembey .
$810,561
3,169, 681
5, 950, 461
7, 718, 357
9, 660, 236
11,292, 849
12,155,205
13, 397, 571
14, 843, 219
16, 704, 829
17, 874, 467
19, 605, 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
34, 961, 611
36, 972. 093
38, 780, 342
40,411, 673
42,778,190
44, 425, 315
46,192,791
47,495, 063
47, 654, 675
47, 084,450
47, 397, 453
48,190,518
50,235,102
62,939,460
55,176,158
58, 044, 826
60, 518, 273
62,644,722
64, 246, 302
65, 948, 344
66,092,667
66, 676, 378
68, 017,452
69, 689, 937
72,42r, 584
75.138, 957
78,178, 583
81, 595, 066
84, 606, 043
87,153,816
88, 840, 899
91,166, 249
92,228, 649
92,4)4,977
92, 940,582
94, 016, 842
97, 530, 969
100, 261,444
103,482, 305
106, 366, 348
108, 898, 977
111, 914. 019
113, 057, 052
114, 320,197
114, 587, 372
116, 036,450
117, 768, 966
$314,710
1,455, 520
2, 647, 940
4, 424, 600
1,316,470
2, 630, 560
1, 907, 460
2,082, 770
2,170, 840
1, 976, 320
2, 074, 830
1, 779, 340
1, 922, 820
2,052,470
2, 014, 680
1, 976, 960
3, 045,130
4, 531, 479
5,173,188
4, 888, 658
.5, 063,456
4, 797, 314
5, 611, 914
5, 428, 354
6, 322, 731
6, 684, 701
5, 758, 331
. 6,518,821
6, 318, 769
7; 333, 719
8, 572, 294
9, 454, 419
9,985,583
10, 856,463
10, 733, 085
11,522,208
11, 988, 710
12, 065,801
11,181, 088
11, 516,432
11, 659, 730 7, 488, 900
7, 089,880
6, 359, 910
7,462,130
8, 649,470
8, 931, 930
8, 872,790
10,609,160
11, 690, 620
12,361.490
11, 700,330
8, 364,430
7,987, 260
6, 752, 970
4,405, 000
4, 306, 650
5,-268, 550
6, 865, 340
8,887,260
' 8,306,940
15, 996,145
15, 542, 730
17, 276, 820
15, 668, 280
14, 214,760
' 13, 806,610
119,449,385
13, laO, 890
$03,000
27, 330
7,080
' 1,709," 280*
711, 600
68, 790
366, 060
413, 360
400,340
331, 860
251,700
197, 680
444,140
•414,480
771,170
. 1, 304, 890
1,176, 720
1, 604, 371
1,894, 722
3. 824, 252
3,989, 454
4, 572, 606
6, 017, 006
6,615,366
6, 051, 639
5,789, 569
6, 930,959
7, 619, 219
12, 203,191
19, 780. 241
26, 604,986
36,127, 711
36,814,637
37, 027, 797
39,445,815
39,157, 932
38, 784, 540
39,110, 729
40, 802, 892
46,061,878
52, .590, 180
58, 838, 770
59, 573, 950
62,315,320
61,537,540
60,125, 010
59,423,440
58, 908, 570
57, 227, 060
54, 506, 090
54, 767, 720
57, 739, 880
63, 204, 780
65, 620,450
67,342, 690
68,443, 660
68,438,820
68, 027,420
70, 759, 991
71, 884, 071
71,727,391
72, 620, 686
73, 728, 681
75, 375,161
78, 921, 961
85,334; 381
87,976,201
90,717,721
Net
standard
silver dollars
Standard
in Treasury
silver dollars
after
in circuladeducting
tion.
silver certficates in
circulation.
$810, 561
3,106, 681
5, 923,121
7,711,277
9, 550,236
9, 583, 569
11,443, 605
13, 328, 781
14,477,159
16,291,469
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, 383,1.50
30,718,263
30, 944, 485'
29, 343, 812
30, 972,157
32, 399, 487
32, 763, 336
33, 796. 307
36, 726, 651
38, 635, 746
39, 261, 832
39, 875, 844
35, 451,484
27, 304, 209
20, 892,467
12, 062, 807
13,420,465
16, 911, 663
15, 730, 343
18, 886, 894
21,733,733
23,433, 993
23,443,410
19, 886,466
13; 502,487
7, 737, 608
8,443, 502
7, 274, 617
10, 884, 044
, 15,013, 947
18,75.5,143
22,686,486
27,378,983
32, 647,726
34, 083,179
33,426,369
29, 023, 869
26, 794, 527
25, 597, 892,
25, 573,182
29, 092,149
32, 234, 024
32, 722, 314
34,482, 277
37,171, 586
39, 293, 333
39, 328, 371
38, 945, 036
35,665,411
30, 702, 069
29,792,765
$190,939
301, 819
536, 049
855,143
870, 264
2,15.5,651
4, 057, 295
4,884,929
5, 596, 331
6, 790, 721
6, 681, 293
7,181,983
7, 216, 0.56
7,461,387
7,304, 905
7, 053, 649
8, 299,199
9, 559, 586
11,074, 230
12,883, 566
14, 865. 993
16, 887, 586
17,544,039
17,833,957
18, 375,908
19, 044. 677
18, 945, 060
19, 309, 435
19, 821, 959
20, 772, 687
22,914,075
25, 763, 300
27,760. 297
29,262,487
29, 517, 903
29,120, 545
29,183,347
28,614,679
28,441,232
28, 827, 983
29, 376,403
29, 974,361
32, 230, 038
34, 096, 327
34, 955, 253
35,791, 043
35, 259, 396
34,842,223
34,103, 097
32, 986, 624
32, 237, 637
31,990,964
32,463,881
32, 563, 531
33, 801, 231
35, 914, 903
37, 689,298
38,938, 238
37.874,111
37,543, 636
36, 7,23, 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
?2, 731, OOi
41,975,734
TREASURER.
*
95
No. 56.—AMOUNT OF STANDARD S I L V E R DOLLARS C O I N E D , E T C . - C o n t i n u e d .
/
Date.
P "
' 1 Net
standard
silkier d o l l a r s
Silver
Silver
Standard
Standard
Standard
certificates . in! T r e a s u r y s i l v e r d o l l a r s
s i l v e r d o l l a r s certificates
i after
silver d o l l a r s
in t h e T r e a s - i n circulain t h e
i
n circuladeducting
coined.
u r y cash.
' tion.
Treasury.
tion.
s i l y e r certifiicates i n
circulation.
• t
1884—January
$163, 775,119 $123,474, 748
F e b r u a r y . . . 166,126,119
126,822,399
'
M a r c h . . . . . . 168.425, 629
129, 006,-101
, April
170,726,629
130,314, 066
May
173, 036,629- 132,626, 753
Juiie
175, 355, 829
136, 660,916
July
177, 680, 829 ^ 137, 692,119
August
180, 030, 829
140, 615, 722
September..
182, 380, 829
142, 058, 787
October
184, 730, 829
142, 926, 726
N o v e m b e r . . 187,180, 829
144, 745, 075
D e c e m b e r . . 189,561,994
146, 602, 865
1885—January
191, 947,194' 150, 632,154
' F e b r u a r y . . . 194,247,194
153,561,007
March
196,697,394
166, 698,482
April
199,107,394
169, 441, 034
May
201, 509, 231
162, 244, 865
June
20.^, 884, 381
165,413,112
July
205, 784, 381
166,499,948
August
208, 2.59, 381
166, 854, 216
September..
210, 769,431
165,483, 721
October
213, 259, 431
163,817,342
N o v e m b e r . . 215, 759,431
165,668,018
D e c e m b e r . . 218, 259,761
165, 718,190
1886—January
220, 553,761
169, 083, 385
F e b r u a r y . . . 223,145. 761
171, 805, 906
March
225, 959, 761
174, 700, 985
April
228, 434,121
175, 928, 502
May
231,160,121
178, 252, 045
June
233, 723, 286
181,253,566
July
235, 643, 286
181,523,924
August
238, 573, 286
181, 769, 467
September.241, 281, 286
181, 262, 693
October
244, 079, 386
182, 931, 231
N o v e m b e r . . 246, 903, 386
184,911,938
D e c e m b e r . . 249, 623, 647
188, 506, 238
1887—January
252, 603, 647
193, 963, 783
F e b r u a r y . . . 255,453, 647
198,112,760
Marcb
258,474,^027
201,672,372
April
261,524, 027
205, 788, 822
264,474, 027
209, 062, 567
May..'......
June
266, 990,117
211,483,970
July
267,440,117
211, 628, 891
August
270, 250,-117
213, 212,448
September.273, 390,167
213, 043, 796
October
276,816,157
214,175, 532
N o v e m b e r . . 280,144,157
215,882,44^
D e c e m b e r . . 283,140,367
218, 917, 539
1888-^ J a n u a r y . . . . 285, 845,367
223, 918, 380
February...
288, 545, 357
227, 947,493
March
291, 355, 789
232,037,274
April
294, 039, 790
236,166, 394
May
297,037, 790
240, 687, 970
June
299,424, 790
243,879,487
July...
300,708,790
245, 798, 765
August
303, 320, 790
247, 869,402
September..
306, 542, 890
248, 791, 634
October
309, 670, 890
249,979, 440
N o v e m b e r . . 312, 460, 800
251, 975, 605
D e c e m b e r . . 315,186,190
254,406, 869
1889—January . . . . 318,186,190
259,811,329
February...
320, 946,490
263, 514, 586
.March
323, 776, 515
267, 286,176
April
326, 974, 516
271, 326, 743
330,188, 640 , 276, 484, 223
M a y ...\
June
333, 422, 650
279, 084, 683
July
334, 602, 650
280, 382,396
August
337, 502, 660
282, 583,864
September..
340, 367, 660
282,983,550
$13,179,020 $96,958.031
13, 890,100
96, 247, 721
20, 488, 585
95,919,676
20, 876, 250
95,497,981
19, 936, 620
97, 363,471
23,384,680
96,427, Oil
25, 265, 980
95,138, 361
26,903, 230
94,228, 691
26,769, 470
96,491, 261
30, 814, 970 100, 741, 561
28, 951, 590 104,988, 531
23, 302, 380 114, 865,911
27, 337, 890 113,858, 811
29,951, 880 111, 467, 951
30, 861, 615 112, 820, 226
32,141,140 109, 443, 946
35, 675, 590 105,085,186
38, 370, 700 101, 630, 946
40,340,980' 98,872,106
42, 712, 890
96, 079, 296
31, 722. 990
93, 666, 716
31, 906, 614
93,146, 772
32, 034, 464
92, 702, 642
31,164, 311
93,179,465
33,978, 767
89, 761, 609
34, 837, 660
88,390, 816
32,410, 575
90,122,421
31,141, 055
90, 733,141
30, 411, 016- 89,184,129
27, 861,450
88,116, 225
27,728, 858
87, 564, 044
25, 571, 492
89, 021, 760
22, 555, 990
95,387,112
17, 562, 302 100, 306, 800
14,137, 285 105, 519, 817
7, 338, 432 117, 246, 670
6, 737, 388 .118,183, 714
5,466, 347 121,130, 755
6, 212, 849 131, 939,489
5. 007, 700 137, 740,430
6, 289,164 139,143, 328
3,425,133 142,118, 017
4,209, 659 144,166,141
6, 996,443 147,876, 385
3, 919, 841 • 154, 354, 826
3,451,494 160, 713,957
4,413,446 168,149,274
6, 339, 570 176, 855,423
14, 930, 517 179, 321, 063
21,166, 469 184,452,659
19,370,425 191, 526,445
18. 316,109 194,426, 932
20, 458,423 196, 645, 406
29,104, 396 200, 387, 376
23, 361, 286 203, 680, 679
15, 528, 762 209, 658, 966
9, 819, 875 218,661,601
7.404, 624 229,783,152
8, 834,485 237,415,789
3, 958, .567 246, 219,999
4,717,113 245, 337, 438
6, 717,898 246, 628,953
4, 760, 236 251,263,379
3,4.51,830 254, 939,203
6, 206, 089 265, 637, 810
6, 627, 301 267,102, 445
5, 661, 271 269, 657,125
6,141,570 268,580,626
3,878, 052 ,276,619,715
$'26,516, 717
30, 574, 678
33, 086, 526
34, 816, 084
35, 263, 282
39,133, 905
42. 653,758
46, 387, 031
45, 567, 636
42,185,164
39, 756,544
31, 636, 954
36, 773, 343
42,.093,056
43,878. 256
49, 997,088
57,159, 669
63,882,166
67,627, 842
70,774,919
71, 827, 005
70, 670, 570
72, 866, 376
72, 538, 725
79,321, 776
83,416, 090
84, 678, 564
85,195, 361
89,067,916
1^3,137, 341
93,959, 880
^2, 747, 697
8;5, 875, 481
82, 624, 431
79, 392,121
7il, 259, 568
75, 780, 069
76, 982, 005
69, 741,883
68,048,392
69, 909,239
69, 366, 953
67, 362, 760
65, 336, 063
58, 688,970
53,461, 575
47, 733,169
42, 062,116
44, 597, 327
43, 494,834
40, 610, 829
4 ,729, 462
43, 942,565
43, 492. I l l
42,118, 086
38, 200,436
30,229, 933
20,196,288
14, 559, 716
8,186, 870
14,473, 891
16,885, 633
16,022,497
16, 387, 540
19,946, 413
21,982, 238
20, 825,270
14,003,238
6,363,835
$40, 300,371
39, 302,720
39, 419, 528
40,411, 504
40,408, 876.
39, 794, 913
39,988, 710
39.415,107
40,322,042
41,804,104
42,435,754
43,059,129
41, 315, 040
40, 686,187
39,998, 912
39, 666, 360
39, 264, 376
38,471,269
39, 284, 433
41, 406,166
45, 275, 710
49, 442, 089
50,191,413
52,541,571
51,470, 376
61, 339, 855
51,258, 776
52, 505,619
52, 908, 076
52,469, 720
54,119,362
56, 803, 829
60, 018, 693
61,148,155
61,991,448
61,117,409
58, 539,864
57, 340, 887
56,801, 665
56, 735, 205
56,421, 460
55, 606,147
55,911,226
57, 037, 669
.60,346,361
62,640,625
64,261,714
64,222,818
61,926,977
60, 697, 864
69, 318,^515
57,883, 396
56,449, 820
65,545,303
54,910,025
55, 461, 388
57, 751, 356
59, 691,450
60,475, 385
60, 779, 321
58, 374, 861
57,431,904
56,490, 339
55,647,772
,54, j p 4 , 317
54, 337, 967
64, 220, 265
54, 918, 786
67,374,100
96
No.
R E P O R T ON T H E
57.—MOVEMENT AND
EXPENSE
OP
FINANCES.
M O V E M E N T OF
STANDARD S I L V E R
DOL-
LARS,, B Y QUARTERS, TO J U N E 30, 1889.,
' Q u a r t e r ending—
1878—March 3 1 - . . . .
June30
S e p t e m b e r 30
December 31.
1 8 7 9 - M a r c h 31
J u n e 30..
S e p t e m b e r 30.
December 3 1 . .
1880-March31 ...
Juue30
S e p t e m b e r 30.
• December 31.1881—March 31
Juue30.
ISeptember 30.
December31.1882—March 31
Juno30
S e p t e m b e r 30
December 31..
1883—March 31
J une 3 0 . . . . . . .
S e p t e m b e r 30.
D(!cemher3l..
1884—March 31
J u u e 30
S e p t e m b e r 30.
December 31.
1885—Marcb 31
J u n e 30.
S e p t e m b e r 30.
December 31.
1886—March 31
J u n e 30
S e p t e m b e r 30.
December 31 .
1887—March 31
J u n e 30
S e p t e m b e r 30.
December 31.
•j88S-^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 .
1889—March 31
J u n e 30 . . . . . .
Total
Amount
moved o u t a t A m o u n t
e x p e n s e of m o v e d into
t h e Govern- T r e a s u r y .
ment.
$570,939
6,468,122
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
10,121, 889
14, 945, 667
13, 711, 368
10,626, 842
14, 676, 051
12, 894, 001
16, 866, 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
11,827,983
19,953,100
14, 802, 610
12,917,794
7,835,852
22, 063, 240
48,619,746
37, 039, 971
6,480, 276
606,931,413
$380,000
5, 803, 918
5,440, 388
6, 535, 893
3,403, 960
10,440,465
4, 218,452
4,114, 383
4, 748,056
6, 842,122
6, 389,177
4, 746, 672
5,165, 878
6, 968,166
4,831, 741
6, 553, 976
6,984,078
6,444, 669
7, 074,499
13,354, 697
13,124,378
11, 603,403
IQ, 603, 920.
11, 619,161
13,183, 048
14, 300, 666
12, 366, 872
13,128,274
15,160, 583
11, 397. 311
22.128, 323
32,492, 595
11, 095,116
13,286,684
9, 484, 810
13, 719, 767
19, 753,195
13,123,491
15,112, 886
10, 926,153
17, 822, 097
11, 609, 064
19, 857,187
45,591, 781
41, 328, 953
8, 632, 648
552, 593,446
Amount '
ExE x p e n s e of
Exi n circu- E x p e n s e of m o v e m e n t
pense
pense
lation a t
p
e
r
movement
t o e n d of
e n d of
e a c h quar$1,000 $1,000 i n
out.
each
ter.
moved. circulation.
quarter.
$190, 939
855,143
4, 057, 295
5, 790, 721
7,216,056
7, 653, 649
11, 074, 230
16, 887, 686
18, 375, 908
19, 309,435
22, 914, 075
29, 262,487
29,183, 347
28,827, 983
32, 230, 038
35, 791, 043
34,103, 097
31, 990, 964
33,801, 231
38, 938, 238
36, 723, 394
35,341, 880
39, 783,527
41, 975, 734
39,419, 528
39, 794, 913
40, 322, 042
43, 059,129
39, 998, 912
38, 471, 469
45, 275, 710
62, 541, 571
51, 359,136
52,469, 720
60, 018, 693
61,117,409
56, 801, 655
56, 506,147
60, 346, 361
64,222, 818
.59, 318, 515
55,545, 303
57, 751, 366
60. 779, 321
56,490, 339
54, 337, 967
$2,100.70
$2,100.70
$3.68
15, 625.23
17,725.93
2.42
18, 884*. 37
36, 610.30
2.18
70,376.43
106,986.73
8.61
23, 216. 84
130, 203. 57
4.81
5, 516.14^ 135, 719. 71
'5.08
12, 543.38
148, 263. 09 . L 6 4
24,633. 05
172, 896.14
2.48
9, 995. 88
182,892.02
L60
11, 856.02
194, 748.04
L62
21,433. 28
216,18L32
2.16.
29, 062. 23
245,243.65
2.62
9,415.21
254, 658. 76
1.85
11,436.12
266, 094.88
L73
21, 278. 34
287,273.22
2.68
.22,727.72
310,100.94
2.25
9,364.29
319,465.23
L77
11,432. 45
330, 897. 68
2.64
20, 781. 51 . 351. 679.19
2.34
20, 031. 60
37i;710.79,
LOS
13, 707.87
385,418.66
L25
11,284.14
396, 702. 80
Lll
18, 794.75
415,497.55
L26
18, 784. 99
434, 282. 54
L37
9,200.89
443,483. 43
.87
16, 768. 83
459, 262. 26
L07
14, 061. 98
473, 314. 24
L09
20,914. 33
494, 228.57
L32
11,296.60
505, 525. 07
.93
23, 922. 00
529,447.07
2.42
17, 861. 59
547, 308. 66
.62
167,268.87
714,577. 53
4.21
23,136.16
737, 713. 69
2.23
18, 685. 33
756, 399. 02
L29
18, 359. 90
774,758. 92
L07
19, 357.93
794,116. 85
L.31
16, 929. 27
811,046.12
1.10
14,196. 36
825,242.48
1.20
19,106. 94
844.349. 42
.96
19,881. 87
864, 231. 29
L34
14,372.08
878, 603.37
Lll
.10,012.18
888, 615. 55
L28
31,167.78
919, 783. 33
L41
56, 308.15
976, 091.48
L16
32,926. 03 1,009,017. 51
.89
11,515. 00 1 020. 532.51
L78
I, 020, 532.51
L68
$1L02
20.73
9.02
18.47
18.03
17.73
13.39
10. 24
9.95
lo.oai
9.43
8.38
8.73
9.23
8.92
. 8.66
• 9.37
10.34
10.40
9.55
10.50
1L22
10.44
10.35
11. 25
1L54
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
15. 93
16.06
17.86
18.78
97
TREASURER.
No. 58.- -AMOUNT OF FRACTIONAL S I L V E R C O I N I N T H E TREASURY AT T H E END
OF EACH M O N T H FROM M A Y , 1879, TO SEPTEMBER, 1889.
Month.
1879—May
June
July
August
September..
October
November..
December...
1880—January —
February...
March . : —
April
M a y . -•
June
July
August
September..
October
November ..
December ..
1881—January
, February...
March
April
May
June
JTily
August.:...
September..
October
November ..
December ..
l882—January —
February...
March
April
May
June
July...
August
September..
October
November ..
December ..
1883—January —
February..
March
April
May
June
July
August
September..
October
November.
December .
1884—January —
February..
March
April
May
June
July
Fl89-
Amount.
$6,813, 589. 32
8.903, 401. 36
12,731, 765.97
15, 236, 724.48
16, 814, 308.94
17, 765, 980.76
18,432, 478.13
18, 881, 629.15
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, 799, 925.40
24, 629, 489. 89
24, 653, 530.37
24,769, 057. 32
26,490, 914. 88
25,813, 058.08
26, 283, 891. 96
26,493, 612.66
26, 841, 956. 74
27,-247. 696. 93
27, 29.5; 486.63
27, 042, 806.63
26, 313, 113. 63
25,984, 687. 76,
25, 918, 252. 00^
25, 963, 641.48
26, 567, 873.37
26, 896, 906.26
27,187, 680. 67
2,7,439, 183. 93
27, 755, 923.33
28, 048, 630. 58
28.153, 956.16
27, 990, 387. 76
27,426, 139.93
26, 749, 432.45
26, 544, 644. 43
26, 621, 692.20
27,135, 244.74
27, 507, 275. 78
27, 865, 993.79
28, 068, 628. 88
28, 303, 196. 20
28,486, 001.05
28,058, 141.67
27, 819, 711.70
26, 750, 161.13
26, 712, 424.15
26, 969, 614.40
27, 224, 126. 33
28, 014, 414.76
28,490, 906.91
28,866, 556. 33
29,158, 480.47
29,377, 206.41
29.600, 720. 05
29, 797, 485.76
Month.
1884—Augnst....
September.
October....
November .
December..
1885—January ..-.
February . .
March
April
May
June
July
August
September .
October
November .
December..,
1886—January . . .
February . .
March
,
April
May
J u n e .July
August
September.
October
November .
December..,
1887—January . . .
February . .
March
April
May
June
July
August
September.
October
November .
December..
1888—January . . .
February . .
March
April .
May
June
July
August
September .
October
November .
December..
1889—January . . .
February .,
March
April ..'
June
July..
August
September.
Amount.
$29,659, 003.38
29,474,160. 89
29, 346, 757.24
29,143,283.48
29,194, 365.52
29,901,104.64
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
29, 013, 993. 71
28,811,037.49
28, 822,637.63
28, 864, 482. 89
28,912,277.14
28,904,68L66
28, 584, 624.69
27,956, 991.95
26, 899, 745. 20
26, 300, 335.88
25,808,067.32
26,660,935.44
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
24,158, 003. 77
24, 327, 528.62
25,019,973.04
25,356,431.80
26, 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
23,801,676.04
23,655,468.45
.24,449,597.49
24.715,021.38
24, 921,003.84
24,975,667.45
25,125,295.22
25,129, 733.17
25, 012,876. 59
^ 24,766,455.36
23,864,840.68
98
REPORT ON T H E FINANCES.
No. 59.—CHANGES DURING T H E F I S C A L Y E A R 1889 I N T H E F O R C E EMPLOYED I N
THE TREASURER'S O F F I C E .
. Total force in Treasurer's oflSce J u n e 30,1888
Appointed
Transferred to Treasurer's office
26
15
'.
Died
Resigned
.^
Removed
Transferred from Treasurer's office
4
12
7
19
283
41
42
1
Total force in Treasurer's office June 30, 1889
,
".
282
No. 60.—APPROPRIATIONS MADE FOR, AND SALARIES PAID TO, T H E F O R C E EMPLOYED IN THE TREASURER'S O F F I C E DURING THE FISCAL YEAR 1889.
Appropriated.
Roll on which paid.
Balance
unexpended.
Expended.
$273, 642.04 $270,916.62
Regular roll
- -- Eeimbursable: Force employed in redemption of nationalbank notes .
Total...
$2,725.42
70,970.10.
70,039.30
930 80
• 344,612.14
340, 955.92
3,656.22
No.'61. - N U M B E R OF D R A F T S ISSUED ON WARRANTS DURING THE ; FISCAL YEAR
1889.
Class.
62.—LETTERS,
No.
Diplomatic
Internal revenue
Judiciary
2, 369 Publicdebt
War - Navy
Interior
Interior civil
Customs
Treasury . . . .
No.
Class.
No.
2,433
2,842
5,223
30
5,708
2, 931
7,337
4,217
7,311
TELEGRAMS,
AND
Total
MONEY
40,401
PACKAGES
RECEIVED
AND
TRANS-
M I T T E D DURING THE FISCAL Y E A R 1889.
Received by mail:
Letters containing money (registered).,
Letters containing money (not registered)
,
17,828
4,205
22,033
1. 136,188
Letters not containing money
Total
....;
Transmitted by mail:
Manuscript letters
:
Registered letters containing money
"
Printed forms filled in (inclosing checks)
Printed forms filled in (inclosing drafts)
Drafts mailed without forms.
Printed forms filled in without inclosures
Printed notices inclosing interest checks
Certificates of deposit without forms
Printed forms, notices, circulars, and reports
Total........^
,
'.."l58,221
=
:
„
6,759 ^
5,917
17,702
26, 934
13,467
212,912
180,145
18,336
51,600
533,772
Telegrams received.,
643
Telegrams sent
i....
937
Money packages received by e x p r e s s . . . . . . .
.>
'.
..:..
: . 104,820
Money packages sent by express
33,604
Post-ofiice warrants signed and registered
105,850
Transfer orders issued
1,103
Money packages delivered to the Comptroller of the Currency
86,866
Treasurer's transfer checks issued
9,805
'' Geneva award " checks issued
7,382
Certificates of deposit issued . . . ; . . . . . ^ . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . o . . . ^ ^ . . . . . . . . . . . . . . .
55,019
(No. 2.)
I
REPORT OE THE BIRECTOR.OE THE MiIHT.
TREASURY DEPARTMENT
O F F I C E O F . D I R E C T O R OF T H E . M I N T ,
Washington^ JD. .0., November Ij ISSd.
S I R : Although I did not enter upon duty as Director of the Mint
until the 16th ultimo, my long service in the Bureau, extending from its
organization in 1873, and the fact that for a number of years I have
had special charge of the preparation of the reports of the Bureau, enable me, at this early date, to lay before you a report Qf the operations
of the mints and assay offices for the fiscal year ende'd June 30, 1889,
as required by section 345 of the Eevised Statutes, j
This report is the seventeenth annual report of the; Director of the
Mint.
!
DEPOSITS 'AND PURCHASES OF GOLD AND SILVER.
The total value of all the gold and silver received at the mints and
assay offices of the United States, during the fiscal year 1889, was
$90,357,903.01, of which $83,374,587.05 cousisted of original deposits,
and $6,983,315.96 of re-deposits.
I
The gold deposited, including the gold parted frota silver deposits,
amounted to 2,628,413.276 standard ounces, of the valueof $48,900,712.04.
Of the above, 363,579.851 standard ounces, of the valu;e of $6,764,276.28,
consisted of re-deposits, that is, bars of gold which had previously been
deposited at the mints or assay offices. Of the re-depo^its, $3,276,501.61
were fine bars manufactured at the United States asjsay office at l!^ew
York, and the remaiuder consisted mainly of deposits, at the minor assay
offices, melted into unparted bars, and shipped to thej mint at Philadelphia, for refining and coinage.
I
The amount of gold deposited at the mints and assay offices, during
the year, exclusive of re-deposits, was 2,264,833.425 standard ounces, of
the coining value of $42,1365435.76.
j
Of the gold deposited, during the year, $31,440,778.^3 consisted of the
product of mines of the United States, against $32,406,306.59 deposited,
during the prior fiscal year, indicating a decline in Ithe gold production of the country ot about $1,000,000,
j
Of the gold of domestic production deposited, $17,347,572.02 represent refined bars manufactured by private refineries in the United
States, and^ $14,093,206.91 unrefined gold,
j
The distribution of the unrefined gold deposited, jamong the States
and Territories producing the same, will^ be found jiu a table in the
Appendix to tMs report.
100
REPORT ON THE FINANCES.
Foreign gold bullion of the value of $2,136,516.66 and foreign gold
coin of the value of $4,447,475.99, were deposited, a total of foreign gold
of $6,583,992.65, against $36,337,927.47 in th.e preceding year, showing
a falling off of nearly $30,000,000 in the foreign gold which found its
way to the mints and assay offices of this country.
Light-weight domestic coin was melted of the value of $585,066.87,
and old material, consisting of jewelry, plate, etc., of the value of
$3,526,597.31.
The deposits and purchases of silver, including silyer contained in
gold deposits, aggregated 35,627,273.69 standard ounces, of the value
of $41,457,190.97 at the coining rate ($1.16-i\ per standard ounce).
,
Of the.silver received at the mints, 188,237.24 standard ounces, of the
coining value of $219,039.68, consisted of re-deposits, principally deposits
at the minor assay offices of the United Statesj so that the original deposits of silver—that is, all the silver received exclusive of re-deposits—
amounted to 35,439,036.45 standard ounces, of the coining value of
$41,238,151.29.
Of the silver received during the year, 32,895,985.50 standard ounces,
of the coining value of $38,278,964.79, were classified as domestic production.
Of this, 31,261,353.84 standard ounces, of the coining value of
$36,376,848.05, consisted of fine silver bars manufactured at private refineries in the United States. As these refineries handle the foreign
silver which comes to this country in miscellaneous ores, which foreign
product becomes so intermingled with the product of the mines of the
United States that it is impossible to separate it, the classification, at the
mints, of silver as of domestic production is not accurate. Of the domes'tic product deposited at the mints, 1,634,631.66 standard ounces, of the
coining value of $1,902,116.74, were unrefined silver. The distribution
of the unrefined silver deposited at the mints, among th© producing
States and Territories, is exhibited in a table in the Appendix.
Foreign silver bullion, distinctively known as such, was deposited at
the mints to the amount of 1,182,110.97 standard ounces, of the coining
value of $1,375,547.30.
Foreign silver coins, containing 364,750.71 standard ounces, of tne
coining value of $424,437.18, were also deposited and melted.
Silver coins of the United States, consisting principally of worn and
, uncurrent subsidiary coins receivedoby the Treasury and transferred to
the mint at Philadelphia for recoinage, were melted during the year,
and contained 431,449.01 standard ounces, of the coining value of
^$502,049.75.
• ,
^
.
V
In addition, trade-dollars, containing 6,714.25 standard ounces, of
the coining value of $7,812.94, were deposited as bullion and melted
during the year.
Old silver, in the shape of °plate, etc., containing 558,026.01 standard
ounces, of the coining value of $649,339.33, was received and melted.
The value of the gold and silver (not including re-deposits) received
at the mints and assay offices of "the United States each year since 1880
is here shown;
.
•
^
101
DIEECTOB OP T H E MINT.
VALUE OF T H E 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 T H E
M I N T S AND ASSAY O F F I C E S DURINGTHE F I S C A L YEARS 1880-1869.
Fiscal years.
Silver;.
Coining v^alue.
Gold.
Total.
\
1
1880
1881
1882
1883
1884
1885
1886
,
-.
:
1887
1888
.
1889
.
$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
42,130, 436
$34, 64|0, 522
30, 7^1, 146
33, 720, 491
36,869,834
36, .5^0, 290
36,789,774
35,4Q4,183
47,7^6,918
•41,331,014
• 41,23|8,151
\
$133,475,618
161, 624, 248
ipO, 477,143
. 83, 216, 940
82, 846, 968
89, 683, 849
80,403,932
115. 979, 990
113, 556, 511
' 83,374,587
•
The usual tables exhibiting, by weight and value, the deposits and
purchases of gold and^silver, at each of the mints and assay offices, will
be found in the Appendix.
^
COINAGE.
The coinage executed at the three coinage mints in operation during
the year, viz, at Philadelphia, San Francisco, and New Orleans, consisted of'93,427,140 .pieces, of the nominal value of $(^0,965,929.61.
*
The bulk of the gold coinage was, as usual, executed at the mint at
San Francisco.
I
The gold coinage consisted of 1,639,285 pieces, of the value of $25,5433910,-of which $19,108,880 were double eagles ;$;(>,248,800 eagles;
$95,825 half-eagles; $165 three-dollar pieces; $84,165 quarter eagles;
and $6,075 gold dollars.
The silver coinage comprised 33,793,860 standard! silver dollars, of
which $21,385,860 were struck at the mint at Philadelphia; $12,300,000
at the mint at New Orleans, and $108,000 at the mint |at San Francisco.
The subsidiary silver coinage consisted of 6,477,134 pieces, of the nominal valueof $721,686.40, of which $6,430 were in halfdollars; $114,715 in quarter-dollars; and $600,541.40 in dimes.
'
The minor coinage, executed by the mint at Philadelphia, consisted
of 51,516,861 pieces, of the nominal value of $906,473.21, of which $489,020.50 were five-cent nickel pieces; $132,30 three-cent nickel jjieces;
and $417,320.41 one-cent bronze pieces.
j
The coinage executed is exhibited in the following table:
COINAGE, FISCAL YEAR
Description.
-
(
Pieces
Qoid
Silver d o l l a r s
.
S u b s i d i a r y silver coins
M i n o r coins
. .
Total
1889.
--
Value.
1, 639, 285
33, 793 mo
6,477'134
51,516^61
$25,543,910.00
33, 793, 8o0.00
721, 686. 40
900,473.21
93, 427,' 140
60, 965, 929. 61
.
The coinage of gold was $2,820,260.50 less than during the preceding
fiscal yeai'e
102
EEPORT
ON
THE..F.mANCES.
The coinage of silver dollars exceeded that of the preceding fiscal
year by 1,075,187 pieces.
The coinage of subsidiary silver was $695,735.85 less than in the preceding year.
The minor coinage was $312,503.36 less than in the preceding fiscal
year.
In the Appendix will be found the usual tables, showing by mints
and by denomination of pieces, the coinageof the fiscal year and of the
calendar year 1888.
A table will also be found in the Appendix, exhibiting the coinage of
the mints, each calendar year, since the organization of the mint in 1792,
to tbe close of the fiscal year 1889.
GOLD AND SILVER BARS MANUFACTURED.
In addition to the coinage executed, gold and silver bars were manufactured by the mints and assay offices of the value of $28,950,367.55,
as follows:
* BARS MANUFACTURED, 1889.
Gold . . . ' . . .
Silver
$22, 241,12L 42
6, 709, 246.13
Total
28, 950, 367.55
The bulk of the bars manufactured was, as heretofore, at the assay
office of the United States at New York.
The usual table showing the character of the bars made at each institution will be found in the Appendix.
MEDALS AND DIES MANUFACTURED.
Section 3510, Revised Statutes, provides that the engraver of the
mint at Philadelphia shall prepare from the original dies all working
dies for use in the coinage of the several mints.
Section 3551 provides that dies of a national character may be executed by the engraver, and national and other medals struck at the mint
at Philadelphia.
,
Under the above provisions of law, 1,020 dies were made in'the engraving department of the mint at PhilaTlelphi^^, during the fiscal year,
of which 1,018 were coinage dies, as follows:
Diiss MANUFACTURED, FISCAL YEAR .1889.
For
For
For
For
For
For
gold coinage
silver coinage
minor coinage
proof coinage
annual a.ssay medal
life-saving medal ..
Total
,
103
DIRECTOR OF THE MINT.
The number of medals manufactured was as follows2
MEDALS MANUFACTURED.
\
Gold
:
Silver . . . .
Bronze
75
546
188
Total.
809
The medals sold during the year numbered 1,004, realizing $6,141.35;
proof sets of the coinage of the calendar years 1888 and 1889 were sold,
to the'number of 2,863, realizing $3,179.08, and single pieces of the same
years coinage were sold, to the number of 1,397, realizing $2,799.25.
The profit on the sale of medals and proof coins was $2,037.66.
Statements will be found in the Appendix, showing the number of
dies manufactured for each of the coinage mints, and also the medals
made.
'
I
GOLD BARS EXCHANGED FOR GOLD CblN.
Under the provisions of the act of May 26, 1882, gold bars were exchanged for gold coin, daring the fiscal year, free of ctiarge, of the value
of $602,293.01, at the mint^at Philadelphia, and $561905,519.41, at the
assay office at New York, a total of $57,507,812.42, j against $15,846,986.25 in the preceding year, indicating a largely inci^eased demand of
gold bars for export.
|
The value of the gold bars exchanged for gold coin, each month, at the
two institutions named, which are the only institutions at which advantage was taken of this law, is exhibited in the following table:
GOLD BARS E X C H A N G E D F O R GOLD COIN, FROM J U L Y 1, 1888-
Months.
Philadelphia.
New York.
•
1888.
July
August
September
October
November
December
*
Totals
1889.
Total.
I
i
$20, 093.38
45,145.52
50,184.12
55,173.62
55, 243.92
55, 214. 51
$3, 787, 974: 64
469, 004. 68
55,232. 56
55,137. 96
55,185. 49
55, 209. 65
, 50,207.51
70, 264. 77
1,329, 326. cl5
1,024, 6^5. 80
2, 843, SCiO. 67
2, 440. 127. 33
12, 904, 489.94
17, 308, 849. 09
1, 384, 558. 71
1, 059, 833.76
2, 899, 046.16
1, 495, 336. 98
13, 014, 697. ,45
17, 379,113. 86
602,293.01
56, 905, 519. 41
57, 507, 812.42
632, 4s|l. 90
1,167, 49j7.60
6, 284, 67j2. 51
7, 652, 589.10
$3, 808, 068. 02
514,150.20
682, 616. 02
1,222,671.22
6,339,916.43
7, 707, 803. 61
i
1889,
January
February
March
•April
May
June.-.l
TO J U N E 30,
I
WORK OF THE R E F I N E R I E S .
The refineries of the mints and of the assay office alt ISTew York, during the fiscal year, operated on 5,127,648 ounces of th'e precious metals,
containing gold and silver of the coining value ot $25,169,704.12.
104
REPORT OK THE FINANCES.
The number of ounces, and the value^ of the gold and silver sent to
the refineries was as follows :
PRODUCT OF ACID R E F I N E R I E S , 1889.
Bullion.
Standard ounces.
Gold
Silver
:
.
Total
Value.
1,101, 024. 573
4, 026, 623. 950
$20, 484,178. 09
4, 685, 526. 03
5,127,648. 523
25,169, 704.12
The weight and value of the precious metals treated in the acid refineries of the mints and of the assay office at New York, are exhibited
in the following table:
Iiistitations.
R E F I N I N G ( B Y A C I D S ) , FISCAL YEAR
1889.
Gold.
Silver.
Gross
ounces.
Philadelphia
902, 906.15
San Francisco
860, 058. 00
Carson. .
...
947,963.40
22, 748. 42
New Orleans
New York
2, 264, 211. 00
Total ..i
Standard
ounces.
Value.
Standard
ounces.
Total value.
Value.
252,931.670 $4, 705,705.49 661,795.66 $770,089.49 $5, 475, 794. 98
244,805. 724 4, 555, 641. 37 682, 776.71 794, 503. 81 5, 350,145.18
49,814.225
926, 776.28 947,681.22 1,102, 756.32 2, 029, 532. 60
6, 640.954
123, 552. 63
16,198. 36
18, 849. 00
142,401.63
546, 772. 000 10,172, 502.32 1, 718,172, 00 1, 999, 327.41 12,171, 829.73
4, 997, 886. 97 1,101, 024. 573 20.484,178 09 4, 026, 623.95 4, 685, 526.03
2.5,169, 704 12
PURCHASE OF SILYER FOR THE OOINAaE OF THE SILYER DOLLAR.
During the fiscal year ended June 30,1889, the purchase of silver
for the silver dollar coinage, as well as the coinage of the same, was
confined to the mints at Philadelphia and IsTew Orleans, with the exception, that the superintendents of the mints at San Francisco and Carson,
were allowed to purcnase the silver contained in gold deposits, and the
silver obtained in bar fractions.
There were delivered during the year on purchases made for the silverdollar coinage, through the Bureau of the Mint, by the Secretary of the
Treasury, 28,557,109.79 ouncesof standard silver, costing $23,998,763.47,
an average cost of $0.840376 per ounce standard, or $0.93375 per ounce
fine.
.
X
Purchases were also made by the superintendents of the mints at
•Philadelphia and New Orleans, in lots of less than 10,000 ounces, at
prices fixed from time to time by the Director of the Mint. The amount
delivered on purchases of this character, was 748,017.72 ounces of standard silver, costing $630,013.31.
.
.
In addition, ^silver contained in gold deposits, and remnants of silver
deposits for bars, were purchased, to the amount ofo 104,718,08 standard
ounces, at a cost of $89,077.33.
The aggregate amount of silver delivered on purchases of all kinds,
for the coinage of the silver dollar, during the year, was 29,409,845.59
ounces, costing $24,717,853.81, an average cost per ounce standard of
$0.840462, or $0.933847 per fine ounce.
DIEECTOR
105
OF TH'E MINT,
The quantity and costof silver delivered on purchases,!during the year,
is shown in the following table:
i
i
•
BULLION D E L I V E R E D ON P U R C H A S E S F O R T H E SILVER-DOLLAR COINAGE,
standard
ounpes.
Mode of acquisition.
1889.
Cost;
Purchases by the Treasury Department (lots of over 10,000 ounces)
Purchases at mints (lots of less than 10,000 ounces)
Partings, bar charges, andvfractions
28, 557,109.79 $23,998,763.47
630,013.31
74g|, 017.72
• 89,077.03
104i 718. 08
Total delivered on purchases . . = ,
Balance July 1, 1888.....o
=
29, 409, 845. 59
4, 0831 470.24
24, 717, 853.81
3, 437, 904.91
33, 493; 315. 83
28,155, 758. 72
Available for coinage of silver dollars during fiscal year 1889 .
The amount of silver bullion on hand, available for jthe coinage of
the silver dollar, on July 1,1888, was 4,083,470.24 stanciard ounces, the
cost of which was $3,437,904.91, while the amount delivered on purchases during the year (as shown in the table given aboye), was 29,409,845.59 ounces, costing$24,717,853.81, rnakingthe total amountof silver
available for the dc»llar coinage, during the fiscal ye^r, 33,493,315.83
standard ounces, costing $28,155,758.72,
1
The amount and «30St of the silver bullion delivered! at each of the
coinage mints during the year, is shown in the accompanying table:
'
•
'
•
!
D E L I V E R I E S AT EACH M I N T ON PURCHASES OF S I L V E R BULLION,
^
Mints.
. Philadelphia ..
New Orleans ..
San Francisco .
Carson
Total.
1889.
^
Standard ounces.
Cost.
19, 265, 829. 43
10, 082,133. 92
53,020.55
8, 861.69
$16,188,250.49
8,476,849.93
44, 896. 91
7, 856.48
29, 409, 845.59
24, 717, 853. 81
i
There were manufactured during the year 33,793,860 silver dollars,
containing 29,041,59^.42 ounces of standard silver, costing $24,423,797.80.
The wastage of silver by the operative officers in this coinage was
13,359.46 standard ounces, costing $11,168.84, while silver was sold in
sweeps .amounting to 24,934.13 standard ounces, costing $21,041.42,
making the gross consumption of silver incident to the dollar coinage,
29,079,892.01 standatrd ounces, costing $24,456,008.06. ;
The seigniorage on the silver dollars coined duriiig the year was
$9,370,062.20.
'
The following staiJement shows the amount and cost o|f silver on hand
at the coinage mints June 30, 1889, available for the dollar coinage:
iSuLLiON FOR SILVER DOLLAR COINAGE ON HAND J U N E 30,
Mints.
Philadelphia...
New Orleans...
San Francisco .
Carson
Total .
standard ounces.
1889.
Cost.
3, 685, 629.63
578,155.97
62,506.93
87, 131.28
$3, 085, 516.00
482, 605. 58
. 53, 917.24
77,711.84
4, 413,423. 81
3, 699, 750. 66
106
E E P O B T ON T H E
FINANCESo
In the Appendix will be found tables, exhibiting by months, the
amount and cost of silver delivered on purchases; also the amount and
cost of the silver used, and the number of Silver dollars coined.
The total amount of silver delivered on purchases under the act of
February 28, 1878, up to June 30, 1889, was 289,615,265,55 standard
ounces, costing $278,330,507.92, and to November 1, 1889, 299,889,416<.ll standard ounces, costing $286,930,633.64, an average cost for the
whole period of $0.95679 per standard ounce, or $1.0631 per fine ounce.
The bullion value of a silver dollar at the average price paid for the
whole period is $0o822o
DISTRIBUTION OF SILVER DOLLARS.
The number of silver dollars on hand at thecoinage mints July 1,1888,
coined during the year, transferred to the Treasury of the IJnited
State, and distributed during the year is shown in the following
tables
DISTRIBUTION OF S I L V E R DOLLARS,
Philadelpliia.
Period.
I n n i i n t s J u l y 1,1888
Coinasre of fiscal v e a r . . . . .
Total
.-.
.
San
Francisco.
I n m i n t s J u n e 30, 1889
D i s t r i b u t e d from m i n t s
..'
N e w Orleans. Carson.
Total.
47,016, 836
21, 385,860
25 142, 074
108, 000
11 850,034
12 300, 000
5,315
84,014,259
33, 793, 860
68, 402/096
25,250, 074
24,150, 034
8, 000, 000
5,315
117, 808,119
50, 000, 000
26,402,696
23,445, 618
25, 250, 074
25,128, 000
16 150,034
5 090,418
5,315
2, 764
67, 808,119.
53, 666, 800
2, 957, 078
122, 074
11, 059, 616
2,551
14,141,319
42, 000, 000
A v a i l a b l e for d i s t r i b u t i o n
1889.
The number of silver dollars'distributed from the mints, during the
year, as shown by the above table, was 14,141,319, being an excess of
2;089,215 over the amount distributed in 1888.
During the year, 42,000,000 silver dollars were transferred from the
mint at Philadelphia, and 8,000,000 from the mint at Kew Orleans, to
the Treasury of the United States at Washington, for storage.
CIRCULATION OF SILYER DOLLARSo
; The total number of silver dollars coined, the number held by the
Treasury for the redemption of certificates, the number held in excess
of outstanding certificates, and the number in circulation, on IsTovember
1 of each of the last four years, are shown in the accompanying comparative statement:
COINAGE, O W N E R S H I P AND CIRCULATION O F S I L V E R DOLLARS.
I n the Treasury.
Date.
N o v e n i b e r 1 1886
N o v e m b e r 1 1887
N o v e m b e r 1 1888
N o v e m b e r 1,1889
'Total) c o i n a g e .
H e l d for paym e n t of certific a t e s outstanding.
$244,433,386
277,110,157
309, 750, 890
343, 638, 001
$100, 300,800
160,713,957
229, 783,152
277, 319, 944
H e l d in e x c e s s
of certificates
outstanding.
$82
53
20
6
624, 431
461, 575
196, 288
219, 577
I n circulation.
$61
02
59
60
502,155
934,625
771, 450
098, 480
101
DIEECTOB .OF • T H E MINT.
SUBSIDIARY SILVER COINAGE.
The stock of silver bullion available for the subsidiary silver coinage, at tbe mints at Philadelphia and San Francisco, July 1, 1888, was
2,680,016.60 standard ounces, costing $3,081,980.63.
That at San Francisco was obtained from the melting pf trade-dollars
redeemed under the act of March 3, 1887.
|
The amount at Philadelphia consisted in part of bullion purchased
for the subsidiary coinage, in part of worn and uncurrent silver coins
transferred from the Treasury, and in part of melted trade-dollars.
During4he fiscal year, worn and uncurrent silver coins of the following denominations and nominal value, were transferred to the mint at
Philadelphia, for recoinage into subsidiary silver coins,! viz: ^
Silver dollars of 1873 and prior years
Standard silver dollars ( ]3resumably coined since 1878)
Half-dollars
Quarter-dollars
Twenty-cent pieces
Dimes
Five-cent silver pieces .
Three-cent silver pieces
L
....[..
!
14,585.00
31,042.00
235,682.00
222,920.00
1,332.60
34^ 755.00
11,731.30
889.42
542,937.32
Total
When melted, these coins produced 420,403.60 ounces of standard
j
silver bullion, of the value of $523,052.70.
The loss, $.19,884 62,, on the recoinage, was reimbursed from the appropriation for recoina
lage of worn and uncurrent gold and silver coin in the
Treasury.
The silver resultii) g from the melting of subsidiary coins sent to the
Bureau of the Mint for special test, and to the mint at Philadelphia for
the annual assay, amounting to 180.03 standard ounces^ of the value, in
subsidiary coin, of ^223.99, was purchased for the subsidiary coinage.
The following statement shows the amount, cost and nominal value
of the subsidiary silver coinage for the fiscal year ended June 30, 1889,
and the sources frojp which the bullion used in its manufacture was
derived.
COST AND NOMINAL VALUE OF SUBSIDIARY S I L V E R COINAGE,
Sources from whicli biillion was derived
standard
ounces.
Cost.
1889,
Coinage.
MINT AT PHILADELPHIA.
Worn and uncurrent coins
Trade-dollars
Bullion
233, 300.25
131, 200.37
587.55
$290,264. 70
150,!787.90
;600.09
$290, 264. 70
163, 235.30
731.00
365, 088.17
441,1652.69
454,231. 00
Trade-dollars.
214,967.28
247,1046.06
267,455.40
Total...
214,967.28
247,'046.06
233, 300.25
346,167.65
587. 55
290, 264. 70
397, 833.96
600. 09
290,264.70
430,690.70
731.00
580, 055.45
088,698.75
721,686.40
Total.
r
MINT AT SAN :?RANCISC0.
Worn and uncurrent coins .
Trade-dollars
-.
Bullion
Aggregate .
108
REPORT
ON T H E
FINANCES.
The following table exhibits the amount and cost of the silver on
band for subsidiary coinage, at the commencement of the fiscal year, the
amount acquired and the amount used in coinage, during the year, and
the stock at the close of the year:
S I L V E R FOR SUBSIDIARY C O I N A G E .
Total.
Mint at San Francisco.
M i n t a.t P h i l a d e l p h i a .
^
Dates.
Standard
.ounces.
Standard
ounces.
Cost.,
Standard
ounces.
Cost.
Cost.
B a l a n c e J u l y 1,1888
U n c u r r e n t coin t r a n s f e r r e d
from t h e T r e a s u r y
M e l t e d a s s a y coins p u r chased
2,465, 032. 35 $2, 834, 915. 06 214, 984.25 $247, 065.57 2, 680, 016.60 $3,081,980.03
Total stock
C o i n e d d u r i n g t h e fiscal y e a r
2, 885, 615.98 3, 358,191.75 214, 984. 25 247, 065. 57 3,100,600. 23 3,005,157.32
420,403. 60
523 052 70
420,403.60
523 052 70
180.03
223.99
180.03
223. 99
365, 088.17
1889
Stock, b y difference, J u l y 1,
1889.
A c t u a l s t o c k J u l y 1, 1889 . .
441, 652.69 214,967.28 247, 040.06
2, 520, 527.8J 2, 916, 539.06
2, 520, 527.81 2,916,539.06
*16.97
580,055.45
688, 698.75
*19. 51 2,520,544.78 2,916,558. 57
* Purchased for silver dollar coinage by transfer in accounts.
SUBSIDIARY COINAGE, FISCAL YEAR
Denominations.
Pieces.
/
Half-dollars
Quarter-dollars
Dimes
•
Total
1889.
--
-
..
Value.
12, 860
458, 860
, 6,005,414
$6,430.00
114j 715.00
000,541. 40
6, 477,134
721 686 40
The seigniorage upon the subsidiary silver coinage was derived as
follows:
"
2,856. 74
130.91
From trade-dollars melted
From silver bullion purchased.
Total . . . . . . . . . ;
32,987.65
TRADE-DOLLAR
RECOINAGE.
The balance of silver bullion derived from trade-dollars melted, at
the mints at San Francisco and Philadelphia, available for the subsidiary coinage, at the commencement of the fiscal year, was as follows:
Mint.
San Francisco
Philadelphia
Total
S t a n d a r d ounces.
Cost.
214,984.25
2,438,848.40
$247, 065.57
2,802,955.80
2, 653,832. 65
3,050,021.37
109
DIRECTOR 0F« T H E MINT.
The balance at San Francisco was coined into quarter-dollars and
dinies, with the exception of 1.6.97 ounces, costing $19l51, which were
transferred to the silvei? dollar bullion account.
|
The accompanying table exhibits the amount of trade-dollars redeemed and transferred to the mints at Philadelphia and San Francisco
and the Assay Office at I^ew York, the amount used in subsidiary silver
coinage, to June 30, 1889, and the balance at the mint at Philadelphia
and the assay sffice at F e w York, at the close of the fisbal year :
T R A D E DOLLARS M E L T E D AND R E C O I N E D INTO SUBSIDIARY SILVER.
Fiscal year 1887.
Standard
ounces.
Value.
{Fiscal year 1888.
Standard
ounces.
Value.
Trade dollars redeemed at Treasury and subtreasuries and transferred to—
Mint at Philadelphia
2,475,462,00 52,844,813.00
Mint at San Francisco
Assay office at New York
603, 000. 00
524, 636. 70
2, 781, 877. 21 3, 200, 000.00
Total...'..
5,781, 975. 91
Eecoined—
Mint at Philadelphia
Mint at San JFrancisco
Transferred to silver-dollar bullion account at San Francisco
Total recoined.
6,647,813. 00
C 506i 702.00 $582, 556.00)
i * 11 626. 90
1,871.00^
140| 383. 50
161, 263. 00
257* 002. 40
295,533.00
905 714. 80 1, 041, 223. 00
206, 563. 75
257, 000. 00
338,1378.75
40,187. 50
50, 000.00
409,1848.45
421, 000.00
509,920. 30
246, 751. 25
307, 000. 00
748,; 227.20
930,920.30
Fiscal year 1889.
Standard
ounces.
Valae.
Trade dollars redeemed at Treasury and subtreasuries and transferred to—
Mint at Philadelphia
Mint at San Francisco
Assay office at New York
Total recoined
Uncoined J u n e 30,1889—
Mint at Philadelphia
Assay office at New York
Standard
ounces.
131,200.37
214, 967.28
6,687,1690.71
7, 689, 036.00
$163, 235.30
267, 455.40
676, ,142. 87
665,i003.23
841, 235.30
827, 375. 70
16.97
19.51
430,700.21
1.341,|163.07
1, 668,630. 51
2,307,j648.03
3.038,!j379.61
2,652,167.90
3,495, 533. 00
5,346,527.64
6,147, 700.90
16.97
346,184.62
" Transferf^^ from mint a^; N^w Orleans (October, 1887). |
Value.
2, 983, 790. 90 $3, 429, 240. 00
665, 020. 20
.764, 263.00
3,038, 879. 61 3,495,533.00
Total
Recoined—
^ Mint at Philadelphia
1
Mint at San Francisco
Transferred to silver-dollar bullion account at San Francisco
Total.
no
REPORT ON THE
COURSE
OF
FINANCES.
SILVER.
The priceof silver in London at the commencement of the fiscal year,
was 42J pence per ounce, British standard (.925 fine).
During the month of July, 1888, the price ranged, with slight variations, from 42 to 42j^-pence.
The limited demand for silver and the low rate of Indian exchange,
caused the price to decline, 6arly in August," to 4 1 ^ pence.
In September a demand for silver for coinage purposes, and an improvement in the rate of Indian exchange, caused the price to rise rapidly from 42-1^6, the opening rate in September, to 44J pence on September 22, wliich was the highest point reached during the fiscal year, indeed since January, 1888. Three- days later, the price declined to 43
pence, closing in September at 43^ pence.
During the month of October, the price ranged from 42^ to 434
pence.
'
. • • • From the 1st to the 27th of November, the price was almost constant,
ranging only from 43 to 43J pence^ declining, however, towards the close
of the month to 42^ pence.
In December, the fluctuations were very slight, and the price of silver
at the close of the calender year was 4:2-^Q pence.
From January 1 to June 30, 1889/the variations in price were slight,
ranging between 42 and 4^f pence, closing for the fiscal year at 42
pence.
The shipments of silver to India during the calender year 1888
amounted to about $26,000,000, being about the average of the last
ten years, while the council bills sold difting the same year realized
£13,915,000, or about $69,000,000.
The average price of silver in London during the fiscal year 1889 was
42.5 pence, equivalent at the average rate for sight sterling exchange, to
$0,935, and at the par of exchange, to $0.9316 per fine ounce.
At this pric^, the bullion value of the standard silver dollar was $0.72.
The highest, the lowest and the mean price of silver in London, each
month, of the fiscal year 1889, and of the calender year 1888, according
to daily cablegrams to this Bureau, and the equivalent value of an ounce
of fine silver, are set forth in the following tables:
H I G H E S T , L O W E S T , AND AVERAGE P R I C E I N LONDON OF S I L V E R BULLION, 925
THOUSANDTHS F I N E , AND VALUE OP A F I N E OUNCE EACH MONTH DURING F I S CAL YEAR 1889.
.
[Compiled from daily cablegrams to the Bureau of the Mint.]
Months.
Highest. Lowest.
1888.
July
A ueruat
-. Sentember . . .
October
November - . .
December
Pence.
42/B
42i44i
Pence.
42
41il
m
m
.421
42|
42t\
m
Equivalent
value of a
Average Equivalent Average finfe ounce Average
price per . value of a monthly
based, on
monthly
fineount e
ounce
price at
average
New York"
with ex- New York monthly
British
price of
standard, change at of exchange price and
fine bar
par, $4.8665.1 on London. average
.925.
sUver.
rate of
exchange.
Pence.
42.111
42;007
43.160
43.097
43.029
$0.92312
0.92085
0.94612
0.94474
0,94325
1 : Q,P3^QQ
$4.8836
4.8753
4.8801
4. 8780
4.8799
4-3a64
$0.92634
0.92251
0.94971
0. 94697
0.94595
0.93581
$0.92640
0 92287
0 94947
0.94903
0 94656
0.93625
Ill
DIEECTOR OF T H E MINT.
H I G H E S T , L O W E S T , AND
AVERAGE
PRICE
IN
LONDON
OP
SILVER
THOUSANDTHS F I N E , ETC.—Continued,
Months.
Highest. Lowest.
Pence.
J anuary . February.
March —
April.... May.
June..
m\
42|
42|
Pence.
m
42i
42^
42^
4111
42
925
Equivalent
value of a
Average Equivalent Average fine ounce Average
mont-hly
based on
price per value of a monthly
fine ounce
price at
average New York
ounce
price of
with ex- New York monthly
British
fine bar
standard, change at ofexchange price and
silver.
par, $4.8665. on London. average
.925.
rate of
exchange.
Pence.
42.544
42.594
42.521
42.185
42.162
42. 034
42.499+
Average .
BULLION,
i
0,93261
4.8810
0.93616
0.93644
0.93371
4.8872
0.93752
0.93750
0.93211
4. 8894
0. 93652
0. 93769
0.92474
4.8895
0.92918
0.92865,
0.92424
4.89
0. 92^93
0. 92865
0.92143
4. 8879
0.92547
0.92595
0.93163
4.8
0.93510
0. 93537
H I G H E S T , L O W E S T , A N D A V E R A G E P R I C E I N L O N D O N O P S I L V E R B U L L I O N , 925
THOUSANDTHS F I N E , AND VALUE O P A F I N E OUNCE, EACH MONTH DURING T H E
C A L E N D A R Y E A R 1888.
|
1
[Compiled from daily cablegrams to the Bureau of the Mint.]
Months.
Highest. Lowest.
Pence.
January . . . .
February..
March
April
May
June.
July..
August
September.
October
November December .
Average
price per
ounce,
British
standard,
.925.
Equivalent Average
value of a
fine ounce, monthly
price at
with ex- New
York
change ofexchange
at par,
on
London.
$4.8665.
lEquivalent
I value of a
fine ounce, Average
I based on
monthly
I average New York
price of
price and
fine bar
average
silver.
monthly
rate of exchange.
Pence.
44f>B
.44^^
44.380
$0. 97286
$4.8637
L 97219
I. 97342
44^5
4311
44.033
.96525
4.8613
.96421
.96630
43f
43.
43.293
.94903
4.8757
.95083
. 95511
42|
42^
42.669
. 93535
4.8754
.93709
.94085
42|
41|
42. 048
. 92174
4.8867'
.92577
.92803
42^
42
42.092
. 92271
4.8857
.92633
. 92639
42A
42
42. Ill
. 92312
411i
42.007
44i
42A
43.160
43§
421
43. 097
43^
42|
42|
42x^H
m
Average for the
year,-
4.8836
.92634
.92640
4.8753
.92251
. 92287
. 94612
4.8801
.94971
. 94947
.94474
4.8780
.94697
. 94903
43.029
. 94325
4.8799
.94595
.94656
42.516
.93200
4.8864
.93581
.93625
42.869
. 03974
4 8777
.94190
. 94300
SEIONIORAG-ia ON SILVER.
The profit on the coinage of silver dollars, during'the fiscal year 1889,
'amounted to $9,370,062.20, and on subsidiary silver criins $32,987.65, a
total of $9,403,049.85.
; ' '
From the profits there was paid for distributijQg silver coins
3,336,24, and for wastage and.lo^^ QP ^^le of sweeps $15,248.31, a
112
^ REPORT ON THE FINANCESo
total of $81,584.55, leaving a net profit on the coinage of silver, during
the year, of $9,321,465.30.
The balance of silver profits remaining in the three coinage mints at
the commencement of the fiscal year was $142,090.45. Adding to this
the gross profits of the year ($9,403,049.85), we have a total of silver
profits to be accounted for of $9,545,140.30,
Of this, the sum of $81,584.55, as stated above, was paid for the expenses of distributing silver coin, for operative wastage and loss on
sale of sweepSo
•
There were deposited in the Treasury of the United States, during the
year, as profits on the coinage of silver, $9,388,307.45, leaving a balance
in the coinage mints, at the close of the fiscal year, of $75,248.30.
The balance of silver profits-at the mints at Philadelphia and New
Orleans has since been deposited in the Treasury, but that at the mint
at San Francisco, $27,399,17, has not been deposited, for the reason that
as silver dollar coinage was suspended at that institution, it was necessary to reserve a sufficient sum to pay the expenses of distributing the
large stock of silver dollars stored in the minto
The seigniorage on the coinage, of silver from July 1, 1878, to June
30,1889, has amounted to $56,939,730.87. Adding to this the balance
of silver profits in the coinage mints July 1, 1878 (the beginning of the
fiscal year following the passage of the act authorizing the coinage of
the silver dollar), namely, $424,725,47, and $9,237.54 refunded by Adams
Express Company for overcharges in bills for shipping silver dollars;
and the additional sum of $4,560.30, arising from surplus silver re-/
covered and the adjustment of "silver values, not strictly a profit on the
silver coinage but carried to the credit of the silver-profit fund, we have
total gross silver profits to be accounted for of $57,378,254.18,
Of these profits, the sum of $781,898.88, has been paid for expenses
in distributing silver coin (including $9,237.64 refunded by the express
coimpany.)
The sum of $246,617.73 has been used for re-imbursements of operative wasta-ge and loss on silver sold in sweeps.
The net profit for the eleven years ending June 30, 1889, including
the balance in the coinage mints July 1, 1878, has been $56,349,737.57.
Of the net profits, there have been covered into the Treasury, prior
to June 30, 1889, $56,274,489.27. ^
In the Appendix will be found the usual table showing the seigniorage, during the fiscal year, on the silver dollar and subsidiary coinage,
separately, and the disposition of the profits.
A table will also be found showing the expenditures at the coinage
mints from the silver-profit fund on accountof the transportation oi
silver coins, separating the amount paid for transportation from the
amount paid for incidentals.
MINOR COINAGE,
Notwithstanding the fapt that the minor coinage executed, during the
fiscal year 1888, was the largest in the history of the mint, the demand
for minor coins, notably five and one cent pieces, continued during the
last fiscal year, taxing to its utmost the mint at Philadelphia and requiring the coinage of 51,516,861 pieces.
Experience has demonstrated that from about February 1 to the commencemeJnt of the fall trade, minor coins are presented to the Treasury
in considerable quantities, for redemption iu lawful money, as provided
DIRECTOR
113
OF T H E MINT.
by section 3520, Eevised Statutes, and that between these dates, they
accumulate in the Treasury and the subtreasuries throughout the
country. The superintendent of the mint at Philadelphia has been instructed, when this is found to be the case, to rerurn all requests for
minor coins coming from any city in which a sub-treasury is located.
The following table shows the number of pieces and nominal value ot
the minor coins struck at the mint at Philadelphia during the fiscal
year 1889:- •
••
j
^
Coins.
Pieces.
Pive-cent
Three-cent
One-cent
Total
Value.
9, 780,410
t 4, 410
41,732, 041
, $489,020.50
132. so'
417,320.41
51, 51b, 861
906,473.21
The accompanying table shows the amount and cost of 1-cent bronze
and 5-cent nickel blanks purchased during the fiscal yekr 1889 :
> Weight in.
pounds.
Blanks for—
Bronze i-cent pieces
Nickel 5-cent pieces
'---
-
Total
Cost.
274,991
9:9, 900
$89,034.36
42, 095. 79
374, 981
131,130.15
The amount and denominations of minor coins-transferred by the
Treasurer of the'United States to the Mint at Philadelphia during the
fiscal year 1889, for recoining and re-issue, is shown in the following
exhibit:
j
MINOR
COINS T R A N S F E K R E D B Y T H E T R E A S U R E R - O F T H E U N I T E D STATES, AND
DISPOSITION O P T H E SAME DURING T H E F I S C A L YEAR 1889.
Denominations.
B r o n z e 1-cent p i e c e s '..
B r o n z e 2-cent p i e c e s . .
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 c o p p e r c e n t p i e c e s
Total
Transferred
to mint.
Recoined Balance a t mint
a n d re-issued. for r e c o i n a g e .
$4,101. 01
10, 056.90
10, 815. 59
18, 916.92
19, 389.00
2, 933. 52
$1, 5p0. 00
2, 000. 00
3, 645. Oo
13, Obo. 00
$2,601.01
8, 056. 90
10, 815.59
15, 271. 92
5, 789.00
66, 212.94
0, 745.00
42, 534. 42
Of the amount transferred, $2,933.52, in old copper ceiits, were melted'
and sold as old .material; $20,745.00 were recoined and i$425534o42 held
for recoinage.
x
i
The distribution by the Mint of minor coins, duringi the fiscal yeap
1889, is exhibited in the following table:
'
!'
•
m 89
8
^
114
REPORT ON T H E FINANCES.
M I N O R COINS D I S T R I B U T E D FROM THE M I N T AT P H I L A D E L P H I A DURING T H E F I S CAL YEAR 1889.
^
State or Territory.
Alabama
Arkansas
—
Arizona
.California
Colorado
Connecticut
Delaware
District of Columbia .
Dakota
Florida
Georgia
Indiana
Iowa
Illinois
' Idaho
Indian Territory
Kentucky
Kansas
Louisiana
»•=
Michigan
Massachusetts
Minnesota
Maine
Mississippi
Montana
5-cent 3-cent 1-cent
nickel. nickel. bronze,
$7,465
2,180
60
3,520
4,620
10, 015
3,050
State or Territory.
Maryland.......
Missouri
.
New York
1,320 North Carolina .
1,000 New Jersey
4, 545 New Hampshire
3, 280 New Mexico
655 Nebraska
1,360 Ohio..
830 Oregon
9,545 Pennsylvania...
12, 395 Ehode Island . . .
8, 815 South Carolina .
60, 655 Texas
Tennessee
20 Utah
3,785 Virginia
. 5,135 Vermont
1.000 Washington
14, 965 West Virginia .
,22, 450 Wisconsin
..
6,395 Wyoming
'..
4,590
180
Total
3,450
3,680
Q, 600
15*090
13, 335
73, 650
100
20. 910
6,805
26, 200
12, 650
27, 920
8,015
2. 120
1,900
4, 920
5-cent 3-cent 1-cent
nickel, nickel. bronze.
990
430
525
430
170
790
260
360
725
100
045
650
470
935
885
190
370
820
440
770
720
760
$00
90
618, 090
$13,060
9,450
96,215
3,460
13,390
3,800
3,250
27,935
60
35, 320
6,880
1,830
215
4,395
40
4,315
1,760
25
1,260
9,325
399,745
REC A.PITULATION.
' Denomination.
Pieces.
Value.
Five-cent pieces.
One-cent pieces . .
Three cent pieces
12, 379, 800
39, 974, 500
6,000
$618, 990
399, 745
180
Total
52,360,300
1, 018, 915'
The nominal value of the various denominations and types of minor
coin issued from the Mint at Philadelphia since its establishment, the
amount melted, and the amount outstanding June 30, 1889, are shown
in the following table:
M I N O R COINS STRUCK AND R E M E L T E D FROM THE ORGANIZATION
AND AMOUNT OUTSTANDING J U N E 3U, 1889.
Denomination.
Copper cents
Copper half-cents...
Copper-nickle cents
Bronze cents
Bronze 2-cent pieces
Nickel 3-cent pieces .
Nickel 5-cent pieces
Total
Coined.
Remelted.
OF T H E M I N T ,
Outstanding
June 30, 1889.
$1, 563, 887. 44
*39,926.11
2,007,720.00
5,193, 846. 62
912,020. 00
- 905,204.49
9,941,050.90
$375,675. 22
$1,187, 212.22
751, 898. 20
34, 995. 73
306, 937. 68
206,164.63
90, 829. 59
1, 255, 821. 80
5,158, 850.89
605, 082.32
699,039.86
9,850, 221.31
20, 562, 655, 56
1, 766, 501.,05
18, 756, 228.40
* There is uo record of the melting at the mint of any old copper half-cents ; but it is believed that
few, if any, are in circulation.
DIRECTOR OF THE
115
MINT.
APPROPRIATIONS AND EXPENDITURES.
I
I
The amount appropriated for the support of the mints and assay
offices for the fiscal year ended June 30,1889, was $1,095,650, of wliich
there was expended $994,989.71, leaving in the Treasury $100,660.29.
In addition to the amount expended from current approi)riations, the
sum of $116.60 was expended from an unexpended balaiice of the appropriation for the renewal of the steam-power plant of thja mint at Philadelphia.
'
There were also expended, at thecoinage mints, from'.the general appropriation contained in the act of February 28, 1878, jauthorizing the
coinage of the standard silver dollar, $223,225.05. . \
The total amount expended at the mints and assay offices, during the
year, was $1,218,331.36.
^
|
There was paid at the Treasury Department, from the appropriation
for the coinage of the standard silver dollar, the sum o|t $93Q, for daily
cablegrams from London giving the price of silver, making the total expenditures for the services of the mints and assay offices during the
year $1,219,261.36.
" j
The appropriations and expenditures, exclusive of the amount paid
at the Treasury for cablegrams, are exhibited in the following table:
APPROPRIATIONS AND E X P E N D I T U R E S , 1889. j
APPROPRIATIONS.
Salaries.
Institutions.
Wages.
I'
C o i n a g e of
standard
sjilrer dolC o n t i n g e n t . R e p a i r s of lars, a c t of
buildings. February
. 128, 1878
(indefinite).
Total.
MINTS.
$41, 550.00 $293, 000. 00 $100, 000.00
40, 000. 00
41,100. 00 170, 00.00
6', 000. 00
25, 000. 00
29,050.00
74, 000.00
35, 000. 00
31, 950. 00
Philadelphia
San F r a n c i s c o
Carson
N e w Orleans
$434, 550. 00
251,100. 00
114,550.00
140, 950. 00
ASSAY OFFICES,
New Y o r k .
Denver
Helena
Bois6
Charlotte
St. L o u i s . ' .
39, 250.00
10, 950. 00
7, 700. 00
3, 200. 00
2, 750. 00
3, 500. 00
25, 000. 00
14, 750, 00
12, 000. 00
Total
211, 500. 00
648, 750. 00
10,
6,
6,
7,
000. 00
000. 00
000. 00
500. 00
2, OOr.
74,250. 0
31, 700. 00
25, 700.00
12, 2JO. UO
4, 75u. 00
5, 900. < 0
$1, 500. 00
OJ
2, 400. 00
233, 900. 00
1, 500.00
1,095,650.00
"EXPENDITURES.
MINTS.
41,434.51
41,100. 00
19,450.00
31, 893. 45
292, 726.17
167, 385.44
31, 619.62
73, 857.25
70, 815. 77
37, 360. 32
10, 509.47
34, 537.86
39, 250. 00
10, 890. 40
7, 699.93
3, 200. 00
2, 750. 00
3, 500. 00
23, 698. 00
12, 988.50
11,832.75
7, 092. 01
2, 409.27
3, 730.27
7, 487. 32
1, 997. 34
2,268.06
201,168.29
614,107. 73
Philadelphia
S a n I raucisco . . . . . . .
Carson
,
N e w Orleans
140,497.16
I 9, 373. 12
127. 90
73, 226. 87
545, 590. 21 ,
255, 224. HH
61, 700.09
213,515. 43
ASSAY OFFICES,
New York
Denver
Helena
Boia6
Charlotte
St. L o u i s
Total
°-.
...
178, 213. 69
70, 040.01
26, 288.17
23, 262. 95
12,187.32
4, 747. .^4
5,768.06
1, 500.00
1, 616. 60
223, 225. 05
1,218, 331. 30
* F r o m u n e x p e n d e d b a l a n c e of a p p r o p r i a t i o n of $54,639.20 for r e n e w a l of s t e a m - p o w e r p l a n t , a c t o f
A u g u s t 4, 1886 (24 S t a t s . . 235).
116
EEPORT
ON THEN FINANCES.
The unexpencied balances of appropriations for the fiscal year 1889
are as follows:
U N K X P E X D E D BALANCES OF APPROPRIATIONS, FISCAL Y E A R
Institutions.
Mi NTS.
$115.49.
,...
''.
AHSAY
Contingent
expenses';
Wages.
Total.
-
Philadelphia.
San F r a n c i s c o
Oapson
New Orleans
New York
Denver
Helena
Bois6
Charlotte
St. L o a i s
Salaries.
1889.
10,100.00
56.55
$273.83
2, 614. 56
28, 380. 38
142. 75
$29,184.23
2, 633. 68
14, 490. 53
^ 462.14
$29, 573. 55
5, 248.24
52, 970. 91
661.44
59.60
.07
1, 302. 00
1, 761. 50
167. 25
2,907.99
* 3,590.73
2,269.73
12.68
2.66
131.94
4, 209.99
5, 411. 83
2,437.05
12.68
2.66
131.94
10, 331.71
34, 642. 27
55, 686. 31
100,660.29
OFFICES.
.
. . . .
.'
Total
; . . . , . . . ^.
The ex}>enses of the ofiice of the Director of the Mint, including
salaries of officers and clerks, examination of mints and assay offices,
maintenance of laboratory, x>urchases ot books and incidental expenses,
and the collection of the statistics of the production of the precious
metals, amounted to $32,723.36, out of $ )6,4:90 appropriated for these
purposes.
The appropriations and expenditures of the office of the Director of
the Mint, were as follows:
APPROPRIATIONS AND E X P E N S E S OF T H E O F F I C E OF THE D I R E C T O R OF T H E M I N T
FOR THE FISCAL Y E A R 1889.
P u r p o s e s lor w h i c h a p p r o p i i a t e d .
Salaries
E x a m i n a t i o n of m i n t s . . .
Minino" s t a t i s t i c s
Laboratory
B o o k s p a m p h l e t s , and incifleutfil e x p e n s e s
Total
Appropriated.
. . . -.
:
Expended'.
Unexpended.
$28, 740. oo"
2, 500. 00
4, 000. 00^
750. 00
500. 00
$27, 738. 78
778.47
2, 961. 57
745.38
499.16
$1,001.22
1,721.53
1, 038.43
4.62
.84
36, 490. 00
32.723.36
3, 766. 64
The appropriations for the support of the mints and assay offices for
the fiscal year 1890 are as follows:
APPROPRIATIONS^FOR M I N T S AND ASSAY O F F I C E S ,
Salaries.
W a g e s of
workmen.
Contingent
expenses.
$41,550.00
41,100.00
29, 550. 00
31, 950. 00
$293, 000.00
170, 000. 00
60,000.00
74, 000. 00
$100,000.00
40, 000.00
25, 000. 00
35, 000. 00
New Y o r k . .
Denver
Helena
Bois6 C i t y
Charlotte
St. L o u i s
39, 250. 00
10, 950. 00
7, 700. 00
3, 200. 00
2, 750.00
3, 500. 00
25, 000. 00
14, 750.00
12, 000. 00
Total.
211, 500. 00
Instilutifnis.
1890.
R e p a i r s of
huilding.
Total
MINTS.
Philadelphia
San Francisco'
Carson
N e w Orleans
'.
$434, 550. 00
251,100. 00
114, 550.00
140, 950. 00
ASSAY'OFFICES,
10, 000.00
6, 000. 00
5, 000.00
7, 500. 00
2, 000. 00
2,400. 00
232, 900. 00
$1, 500. 00
74,250.00 ,
31, 700. Oo
24, 700. 00
12, 200. 00
4, 750.'00
5, 900. 00
1,094,650.00
DIRECTOR
OF
THE
117
MINT.
The estimates of appropriations for the Mint service for the fiscal year
ended Juue 30, 181)1 (including '•'freight on bullion and coin"), which
I had the honor to submit on the 7th ultimo, aggregated $1,139,260,
against $1,141,140 appropriated for the same purposes for the current
fiscal year, a reduction of $1,880.
' t
EARNINGS AND
E X P E N S E S OF THE R E F I N E R I E S OF T H E MINTS AND
T H E ASSAY OFFICE AT N E W YORK. |
Paragraph 8, chapter 329, volume L of the Supplement to the Eevised Statutes, provides that refining and parting of I bullion shall be
carried on at the mints of the United States and at th|e assay office at
ISTew York, and that the charges collected shall be used to defray the
expenses of the operations.
!
The purpose of this law was to make the G-overnmedt refineries selfsupporting.
1
The charges collected from depositors for parting audi refining bullion
during the fiscal year 1889, amounted to $130,755.91, ^nd the expend!-.
tures to $ 164,147o20, an excess of expenditures over receipts of $33,391.29.
It is proper to state, however, that the by-products from the acid refineries, realized, during the yiear, $11,125.08,
!
While monej^s received from this source can not be u|sed in defraying
the expenses of the refineries, they are a legitimate gain, reducing the
excess of expenditures over earnings to $22^266.21. !
The receipts and expenses of the refineries for the fiscal year 1889 are
exhibited in the following table:
• ^,
I
CHARGES COLLECTED AND E X P E N D I T U R E S F O R P A R T I N G AND R E F I N I N G BULLION,
' 1889.
Charges col- Gross expendilected.
tures.
Institutions.
Mint at Philadelphia
Mint at San Francisco
Mint at Carson
.•
Mint at New Orleans
Assay office at New York
Total
.-..-. .^
Net
expenditures.
$19, 662. 23
32,740. 90
20, 868. 51
908.61
56,575. 66
$11, ;256. 33
51,124.91
24, 660. 38
^82.64
76,622. 94
$11,256.33
49,114.66
24, 660.38
482. 64
67, 508.11
130,755.91
164,147.20
153,022.12
Although the amount expended for the support of the refineries during
the last fiscal year exceeded the earnings, the total receipts for parting
and refining bullion since July 1, 1876, the date at whiph the refineries
were made self-supporting, have exceeded the gross expenditures for
the same period, by $137,516,54, the latter amount standing to the credit
of the appropriation for parting and refining bullion on July 1, 1889.
EARNINGS'AND
E X P E N D I T U R E S OF T H E MINTS AND ASSAY O F F I C E S .
• i
The total earnings of the mints and assay offiices, fromjall sources, during the year, amounted to $10,351,701.47. Of these, $9,370,062.20 consisted of seigniorage on the coinage of silver dollars; | $32,987.65 seigniorage on the coinage of subsidiary silver, and $75li955.32 seigniorage on the manufacture of minor coins. The remainder of the earnings
arose from charges collected from depositors, from surplus bullion recovered, and miscellaneous gains.
I
118
REPO'RT
O N THE
FINANCES.
The total expenditures and losses of all kinds, including all the expenses for the support of the mints and assay offices and the acid refineries, the wastage of the,operative departments, and the distribution
of silver and minor coins, amounted to $1,502,665.60, leaving a net
profit of earnings over expenses during the year of $8,849,035.87. ,
In tlie Appendix will be found a table, exhibiting in detail, the earnings and expenditures at each of the institutions of the Mint service.
CLASSIFIED
STATEMENT OF EXPENDITURES.
The following table exhibits the expenditures at the mints and'assay
offices of the United States during the fiscalyear 1889, for the different
classes of supplies (as well as for salaries and wages), the expenses of
the refineries being separate from the ordinary expenses of the mints :
CLASSIFIED STATEMENT OF E X P E N D I T U R E S AT THE
D U R I N G THE FISCAL Y E A R
S u p p l i e s , etc.
Acids
Adjusting weights
Advertising
,
Assayers materials
Ordinary.
$2,219.39
80.00
...
ASSAY
Retinery.
$34, 812.66
798. 55
1, 253. 95
7, 238. 69
4,160.43
22, 817.13
3, 628. 05
33,752. 53
6,995.70
" 4, 098. 74
Coal
Coke
'.
Copper
,
Crucihles
D r y goods
Fire brick
Fluxes
F r e i g h t and drayage.
F u r n i t u r e (office)
G a s a n d electric l i g h t i n g .
Gas melting furnace
Gloves
Hardware
Ice
I r o n and steel
157.27
1, 919. 00
508.24
13,196.17
125. 00
8,970.71
2,210.12
2,816.63
1,842.15
.....*
10, 387. 71
11.50
2,237.46
1, 377.86
2,386.89
6,104.54
:.
L o s s on sale of s w e e p s
Lumtjer
Machinery and appliances
Metal work and castings
N e w fencing
Oils
R e p a i r s of b u i l d i n g s
R e n o v a t i o n of g r o u n d s
Rent
Salt
Sewing
'
.....
,.
Stationery, printing, and b i n d i n g .
AND
1, 030. 56
Barrels and cooperage
Belting
Charcoal
Chemicals
Labor and repairs
Lead, s h e e t , e t c .
MINTS
1889.
929.53
2, 789. 73
405. 00
165.47
480.00
35.81
2,454.45
2,456,12
1. 0.56.11
191.22
2.938.12
11,863.68
1, 310. 80
970. 37
50.00
2, 510.86
550.16
862.73
586.38
522.97
63.03
3, 772.46
397.-95
1, 502. 87
, 511. 52
3, 733.17
1, 271.01
228. 76
522.27 j
156. 27 I
OFFICES
Total.
$37, 032. 05
80. 00
69.60
1, 030. 56
798. 55 •
. 1,253.95
8,294.80
4, 351.65
25, 755.25
3,
45,
8,
5,
628.05
616.21
300.50
009.11
50. 00
2, 668.13
2,469.16
508.24
14, 058.90
125.Op
9,557.09
2, 733.09
2, 816.63
• 1,905.18
14,160.17
409.45
3,740.33
1, 889.38
6,120.06
7,375.55
929.53
3, 018.49
405.00
165.47
480.00
.558.08
2, 610.72
2, 456.12
119
DIRECTOR OP T H E MINT.
CLASSIFIED STATEMENT OF EXPENDITURES, ETC.—CoDtinued.
Supplies, etc.
Ordinary.
Refineijy.'
Total.
$1,178. 71
116.60
12,071.75
594.73
300.58
1,252.98
3, 678. 38
10. 922.31
4.70
$4, 769. 88
Total
Salaries
Wages of workmen
181,432.87
201,168.29
835,730.20
79,556.99
83, 332.18
260, 989. 86
201,168.29
919, 062.38
Aggregate...
1,218,331.36
162, 889.17
1, 381,220.53
Steam
Steam-power plant
Sundries
:
Telegraphing
Tools
Washing
Water
Wood
1.Zinc
-.
^
'.
..
1, 034.62
147.70
445.15
1,975.72
$5, 948.59
116.60
13,106.37
594. 73
300. 58
i, 252.98
3, 826! 08'
11, 367. 46
1,980.42
L
.
.
_.
.
^
.
_
IMPORTS AND EXPORTS OF T H E PRECIOUS ^IVEETALS.
Oold.—The value of the gold bullion imported into the United States
during the fiscal year was $1,705,450.
|
Of this amount, $550,412 was imj)orted from British Columbia,
$363,235 from the British possessions in Australasia] $445,426 from
Mexico, $250,754 from Colombia, the remainder coming in small lots
from various countries, principally South America.
|
In addition to gold bullion, gold ores, of the in'voiced value of
$87,287, principally from Mexico and China, reached this country for
refining. .
'
|
Foreign gold coins were imported of the value df $7,175,789.
Of the foreign gold'coin imported, $1,472,560 came from France and its
colonies, $1,062,456 from Germany, $371,053 from Bnglland, $2,768,334
from Australia, $57,045 from the British West Indie^, $579,982 from
Mexico, $759,111 from Cuba, and the remainder from various other
countries, principally South America.
|
There were re-imported of our own gold coin, during the year,
$l,403,619o •
.
j
The total imports of gold into the United States may be recapitulated
as follows:
!
GOLD IMPORTS, 1889.
-i_
Foreign bullion
Foreign coin
Foreign ores
$1, 705, 450
7,175, 789
87, 287
Total foreign .
United States coin *..
8, 968, 526
Total imports.
10, 372,145
1,403, 619
There was exported, during the fiscal year, gold bullion of the value of
$50,786,393, of which $49,679,850 consisted of refined bars bearing the
stamp of a United States mint or assay office, and $l,10i6,543 was classified as ^^ other bullion.^^
I
120.
REPORT ON T H E FINANCES.
Of the gold bullion exported, $23,022,082 went to France,; $19,049,409
to England, $8,703,698 to Germany, and $11,2C4 to Hong-Kong.
Foreign gold bars were re-exported to England of the value of $31,933.
In addition to the export of gold bullion. United States gold coin was
exported of the value of $4,143,939, more than half of it, $2,464,576, going to Venezuela,
. o•
There were re-exported of foreign- gold coin $4,990,020, of whicb
$3,812,155 went to Cuba, $'887,544. tO England, $167,320 to Venezuela,
and the remainder in small lots to other countries.
Domestic .gold ores were exported of the invoiced value of $80,961.
In addition to these ores, minute quantities of gold were exported, contained in copper matte and other furnace products, the value of whicli
is not knowHo
The movement of gold from the United State's during the fiscal year
may be recapitulated as.follows t
GOLD E X P O R T S , 1889.
Domestic bullion
Domestic coin
Domestic ores
'
Total domestic
Foreign bullion re-exported
Foreign coin re-exported
$50,786,893
4,143,939
80,961
o
= „..
Total foreign
$31,933
4,990,020
[.
Total gold exports
55,011,293
5,021,953
•-
60,033,246
From the above figures it will be seen that there was a net loss of
gold to the United States during the year, by exports of bullion and
coin over imports of the same, of $49;661,101o
SilveTo—The commercial value of the foreign silver bullion imported
into the United States during the year, as registered at the customhouses, was $5,713,049, of which $4,684,187 came from Mexico, $996,698
from Colombia, and the remainder in small lots from the British possessions in the Northwest Territory, from,Honduras and San DomingOo
In addition, silver ores • of the invoiced value of @6,951,719 were importedo Most, of these ores came from Mexico, and contained, besides
silver, large quantities of lead and some copper, the value of all the
metals being included in the above value.
Deducting the value of the lead and copper contents, approximately
$947,554, at custom-house .valuation, the value of the silver ' was
$6,004,165.
.
The following table, compiled from special statements furnished this
Bureau by collectors of customs at frontier ports, shows approximately
the contents and valuation of these ores:
IMPORTS O F S I L V B R - L E A D O R B S INTO T H E U N I T E D STATES DURING T H E FISCAL
- YEAR 1889.
Paso del Norte ..
Laredo
Total
Tons of
ore.
Lead contained.
III
Ports. .
Pounds.
77,728 36, 975, 532
21,955 14,023, 980
18, 639 7, 680, 097
$744, 048
140, 203
46,978
58, 679,609
931,229
118,322
Value of
g o l d CODL-
tained.
Value of
Value of
copper
silver concontained.
tained.
Total
invoiced
value.
$18, 352 $3, 933, 644
474, 857
462, 615
9,669
$16,325
$4,712,369
615, 060
519; 262
4, 871,116
16,325
5, 846, 6»1
28,021
121
DIEECTOR OF T H E MINT.
From the above it will be seen that the silver-lead ores imported into
the United States contained silver of the commercial value of $4,871,116,
and 58,679,609 pounds of metallic lead, of the custom-house valuation
of $931,229. .
,
• , .I
,
"
The imports of foreign silver coin into the United States during the
year amounted to $12,687,823, of which $11,773,709 cionsisted of Mexican dollars.
j
*
United States silver coins, principally subsidiary silter, but including
15 trade dollars, of the value of $277,343, were imported during the year.
The total imports of silver into the United States during the year
may be. recapitulated as follows : . . .
.j,
I '
" '
IMPORTS OF S I L V E R , 1889.
I
Foreign bullion (commercial value).
Silver in foreign ores
Foreign silver coin
$5, 713, 049
6, 004,165
12, 687, 823
Total fordgn
United States silver coins.
24, 405, 037
• 277,343
Total silver .
24, 682, 380
There was exported from the United States, duringj the year, domestic silver bullion of the commercial value of $25,217,903, of which
$15,057,519 went to London, $5,468,600 to Hong-Kong, $2,390,500 to
Japan, $1^942,534 to India, $339,750 to France, and $19,000 to GuateForeign silver bullion was re-exported of the value lof $30,614,
''^Foreign silver coin was re-exported of the value cjf $11,373,972, of
which $8,143,248 went to Hong-Kong, $1,643,167 to England, and the
remainder to other countries.
'
Our. own silver coins to the value of $66,759 were exportedo
Small Tots of foreign silver ores, were re-exported;, of the invoiced
value of $27,535o
•
• !
^
'
The exports of silver, during the fiscal year, may be recapitulated as
follows:
I
^
i
E X P O R T S O P SILVER, 1889.
i
Domestic buUion (commercial value).
Domestic coin
Total domestic
Foreign sUver coin re-exported
Foreign silver bullion re-exported
Foreign silver ores re-exported
Total foreign .o=„
......o
Total domestic and foreign .
$25,217,903
66,759
,.
'.
L....
$11^ 373,972
I 30,614! 27,535
„
,
|
25,284,662
11,432,121
36,716, 783
From the above statistics it will be seen that therq was a net loss of
silver during the year, to the United States^ of $12,ob4,403e
122'
REPORT
ON
THE
FINANCES.
The total loss by net export of gold and silver, during the fiscal year
1889, was as follows :
L o s s OF GOLD AND S I L V E R TO T H E U N I T E D STATES, 1889.
Gold......
Silver....,
$49,661,101
12, 034, 403
Total
61, 695, 504
In the Appendix will be found the usual tables, showing by months
and by customs districts, the imports and exports of the precious metals,
during the fiscal year 1889, also, tables showing the countries whence
the precious metals came to the United States, and the countries to
which the precious metals were shipped from the United States.
MOVEMENT OF GOLD FROM T H E U N I T E D
STATES,
The heavy movement of gold from the United States which commenced
in May, 1888, and which has continued, with some interruptions, up to
the present time, has created a profound stir in the American commercial world and excited some apprehension of a serious drain upon the
gold stock of the United States, as this is the first loss of gold of any
magnitude, since the resumption of specie payments in this country.
The exports of gold from the United States, as well as the net loss
of gold, were materially larger last year than any year since 1875.
The gain of gold by the United States by net imports, from July 1,1875,
to June 30, 1888, amounted to $147,380,181. The following table exhibits the imports and.exports of gold, each year:
IMPORTS AND E X P O R T S O F GOLD BULLION AND C O I N TO AND FROM T H E U N I T E D
STATES, EACH YEAR FROM 1875 TO 1888.
Fiscal years.
1875.1876..
1877..
1878..
1879..
1880..
1881..
1882..
1883..
1884..
1885..
1886..
1887.,
1888.
Total .
Imports.
Exports.
$13, 69.6, 703
7,992,709
26, 246, 234
13, 330, 215
5, 624, 948
80, 758, 396
100, 031, 259
34, 377, 054
17, 734,149
22,831,317
26, 691, 696.
20, 743, 349
42, 910, 601
43, 934, 317
$66, 980, 977
31,177,050
26, 590, 374
9,204,455
4, 587, 614
3, 639, 025
2, 565,132
32, 587,880
• 11, 600, 888
41, 081, 957
8,477, 892
42, 952,191
9, 701,187
18, 370,234
456, 903, 037
309, 522, 856
The bulk of the gold exported since May, 1888, when shipments commenced, consisted of United States gold bars shipped from the port of
'New York. The value of the fine gold bars exported from May 1,1888—
about the commencement of the movement—to September 30,1889, was
$61,435,989.
DIRECTOR OF T H E MINT.
123
These bars were invoiced to three countries, viz : France, England,
and Germany, in the following proportions:
;
$27, 692, 855
18, 717, 087 .
15,020, 047
France.....
England ...
Germany...
Total
61,435, 989
It is probable that the exportation of gold was somewhat facilitated
by the readiness with which gold bars cnn be obtained for gold coin,
free of charge, at the assay office at New York, the costiof shipping bars
being less expensive than coin, principally from thefaclt that the loss of
weight by abrasion is considerably less on bars than on| coin in transitu.
The following statement compiled in this Bureau exhibits the value of
gold bars exchanged for gold coin at the assay ofi3.ce alt New York, tor
shipment, each month, from May, 1888 to September, l!889, the amount
exported each month at the port of New York, and th'e price of sight
sterling exchange on London in New York at the date of the shipments :
- V A L U E OF THE GOLD BARS EXCHANGED FOR GOLD C O I N AT THE U N I T E D STATES
ASSAY O F F I C E AT N E W YORK FOR S H I P M E N T ABROAD, EACH MONTH, FROM MAY,
1888, TO SEPTEMBER, 1889; THE AMOUNT E X P O R T E D , AND THE RATE OF S I G H T
STERLING EXCHANGE I N N E W YORK AT THE DATES OF SHIPMENT.
Months.
1888.
May
• J u n e ....:
July
August
September ...
October . . . . . .
November—
December
January
February ...
March
April
May
June
,
July'
August
September .
Total.
V a l u e of b a r s
exchanged
for gold coin a t V a l u e of bars]
P r i c e of s i g h t e x c h a n g e i a t d a t e s of s h i p m e n t .
exported.
the New York
a s s a y office,
for s W p m e n t .
$6,050,712.58
2, 789, 884.33
.3,472,598.14
$4, 287, 870
2,797,496
3,472,332
505.148.11.
5, 733,768. 02
6, 768, 981. 79
505,
5, 232,
7, 270,
1,010,014.85
511, 893. 83
2,258, 064. 80
1, 024, 299. 95
12,520,989.85
16, 877, 070. 80
496,
511,
1, 252,
1,024,
12, 522,
17, 392,
4; 670,
4,669,494.02
64,192, 921.07
$4.88^$4.88|-$4.89 ( m o s t lof t h e s h i p m e n t s ) .
$4.88J-$4.88| ( m o s t of th^e s h i p m e n t s ) .
$4.88i-$4.88i (most of t h 6 s h i p m e n t s ) .
$4.88^-$4.88^
$4.88i-$4.88|-$4.i
$4.89.
$4.89.
$4.89.
854.88i-$4.88|-$4.89 (most|of t h e s h i p m e n t s ) .
$4.87f-$4.88.
I
61,435, 989
Displacements of specie from one country to anothjer always occur
when international accounts, as established by the balance of trade, must
be settled ,
I
The balance of trade for the period embraced between May, 1888, and
'September, 1889, was against the United States, the Excess of the imports of merchandise into the United States over exports of the same.
124
R E P O R T ON T H E FINANCES.
amounting to $47,825,359. The movement of merchandise was as follows:
Imports of merchandise into the United States
Exports of merchandise from the United ^ t a t e s
$1, 058,997,805
1, Oil, 172,446
Excess of imports over exports
47,825,359
But there have been oth^r influences bearing upon this movement of
gold than an unfavorable balance of trade.
From an examination of the table first presented it will be seen that
the bulk of the shipments took place at dates when exchange was between $4.88J and $4.89.
The cost of transporting gold bars from I^ew York to Europe is
about one-eighth of 1 per cent., and the cost of insurance from nine
one-hundredths to three-sixteenths of 1 per cent., so that it would not be
profitable to ship bullion, rather than to buy exchange, if the price of
exchange was below $4.88.
As regards shipments to London, the well-known fact that the Bank
of England pays for gold only 77s. 9^. per ounce, British standard
(.916f fine), while it sells gold at the rate of 77s. lO^d,, equivalent to a
coining charge of I J pence per ounce, would not induce shipments of
gold to London.
The margin of I J pence per ounce, at the Bank of England, between
the purchase and selling prices of gold, rather encourages the shipment
of gold from London, as owners of bullion in London will accept any
price for shipment above 77s. 9^. per ounce. So that the price of exchange in New York would have to be nearly $4.89, before it would be
profitable to ship gold to London, for sale to the Bank of England, in
preference to buying exchangee
As a matter of fact, most of the gold which recently left this country
went to France.
In addition to the amount directly consigned to France ($27,692,855),
it is well known that the Bank of France received, during this period,
large sums of gold from the United States consigned to London.
Exchange between London and Paris had been in favor of the latter,
and as London was a creditor of ISTew York, the specie for debts payable
in London was, by agreement, sent to France.
The following statement, showing the weekly increase in the stock of
gold in the Bank of France, from January 3, 1889 to September 19,
1889, has been compiled :
STOCK O F GOLD I N T H E BANK O F F K A N C E .
Dates.
Pounds
sterling.
1889.
1889.
Jan.
3..
10
17
24.
31
Feb. 7
1421
28....,
Mar. 7
14
21
28
Anr. 4
^
n.:::::::::::::::::::::;::.
18
25
May 2
9
.
. . .
Pounds
sterling.
Dates..
. 40,205,000 ' M a y 16
40, 035, 000
* 23
30
39,937,000
40,107,000 J u n e 6
13
40, 030, 000
40, 203, 000
20
27
40, 268, 000
40,414,000 J u l y 4
40, 373, 000
11
40, 345, 000
18
40,314,000
25
40, 354, 000 Auff. 1
40, 531, 000
^ 8
40,983, 000
15
40,261,000
22
40, 342, 000
29
40, 496, 000 S e p t . 5
40, 577, 000
12
40,654, 000
. 1 9
i
. . .
,,........-.
:
...
•
..
I n c r e a s e from J a n . 3 to Sept. 5, 1889, ^ £ 3 , 1 0 8 ^ 0 0 0 = $ 6 3 , 7 9 0 , 0 8 ® .
40, 882,000
41,333,000
41,325,000
42, 936, 000
43, 725, 000
44, 798, OOO
45,867, 000
47, 512, 000
48, 431, 000
48. 631, 000
49, 271, 000
50. 527, 000
51, 203,000
• 52,701,000
53, 048, 000
53, 217, 000
, 53,273,000
53, 164, 000
53, 313, 000
125
DIKECTOK OF T H E MliNT
From, this statement, it will be seen that the gold reserves of the Bank
of France increased, in less than nine months, £13,108,000 or $63,790,000.
The present stock of gold in the Bank of France is ^he largest it ever
held. At the commencement of the year 1880, it hiad fallen to about
£22,000,000, against £53,313,000 on September 19, 18:89, an increase of
over £31,000,000.
>
|
A corresponding statement, showing the weekly increase in the stock
of specie in the Bank of England, together with the changes in the bank
rate of discount,, is here appended.
i
SPECI^E I N T H E BANK OF E N G L A N D AND CHANGES I N T ^ E BANK R A T E .
Dates.
1889.
2
9
16....,,
23....
30
Feb. 6 . . . .
13
20....
27
Mar. 6
13....
20
27....
Apr. 3
10....
17
24
May
I
Jan.
f o u n d s sterling.
19,366,171
20, 470, 365
20,818,449
21. 238, 292
21, 616,762
21,961,821
21,718,824
• 21, 846, 081
. 21, 727, 822
22, 008, 071
, 22,161,153
22, 354, 570
22, 681, 659
22, 630, 856
22,616,470
22,351,289
22, 287,492
22,137, 745
21, 891, 700
Bank rate
of d i s c o u n t .
Percent.
5
4
4
3^
3
' 3
3
3
3
3
3
3
3
3
3
2^
2h
^21
Dates.
May
•
Jiine
July
Aug.
Sept.
1889.
15 . . .
22...,
29...
5...
12...
19...
26...
3...
10...
17...
24...
31...
7...
14...
21...
28...
4...
11...
18...
P o t i n d s ster- B a n k r a t e
of d i s c o u n t .
j ling.
' 22, 840,
123,232,
123. 238,
' 22, 036,
I 22, 884,
, 23, 575,
23, 936,
23, 711,
22, 984,
22, 809,
122, 626,
i 21, 547,
! 20, 916,
' 20, 945,
21,141,
I 20,936,
120,837,
120,886,
120, 828,
P e r cent.
2h
2^
2^
2i
2i
2#
Increase from Jan. 2 to Sept. 18,1889, £ 1 , 4 ( 8 $ S , 5 3 4 = $ 7 , 1 i ; 7 , 4 3 1 . y 1»
From this statement, it will be seen that the increase in the stock of
specie, in the Bank of England, for the same period, |was only £1,462,534, or about $7,000,000. From this it is evident that the large shipments from this country were not intended for London, but went directly or indirectly to France.
'
The specific causes of the erratic movements of gold are sometimes
difficult to ascertain.
As stated, the unfavorable balance of trade had much to do ^yith them.
The high rate of exchange, coupled with the facility with which gold
bars can be exchanged for gold coin, was an importaiit element.
It is well known that the Bank of France has, for nbarly a year past,
been increasing its gold reserve, and it is also a mattler of general acceptance, that both the Bank of France and the Bank o|f Germany credit
banking houses in Paris and Berlin, with the value of bullion shipped
to them from New York, at the date of shipment^ thus, lessening the cost
of the movement by the interest on the amount duringi the whole period
'of transit, and encouraging the importation of gold j whenever those
institutions desire to strengthen their gold reserves, j
Sloreover, as the rate of interest in England has been higher than
usual, that fact has had a tendency to check investment of British
capital in the United States as well as in other countries (and in saying
this we are not unmindful of the enormous amounts of such capital
employed by English syndicates or trusts m the purchase of American
126
KEPOKT ON THE FINANCES.
breweries, for instance); and thus, owing to the lack of bills of exchange which would have been drawn against the capital invested in
the United States, if the rate of interest in England had been lower,
gold, has been shipped to England which would otherwise have remained
here.
'
Undoubtedly, a large demand for gold coin has* been created in Paris
on account of the Exposition. The number of Americans traveling
abroad is yearly growing larger, and last year was especially large.
It is estimated that some 120,000 people from the United States visited Paris during the Exposition,* and nearly all of them have carried
with them bills of credit which necessitated settlement by New York
bankers with their London and Paris correspondents.
As the gold reserve of the Bank of England was such that any considerable movement of specie from that bank might involve serious
consequences 5 the rate of exchange between New York and London was
consequently high, and this induced shipments of ^old to France both
directly and by way of London, in order to pay the balances due on
letters of credit issued by New York banks on their French and En-^
glish correspondents.
The present downward tendency of the rate of exchange indicates a
strong probability of the return of a large portion of these bars, especially if the balance of trade should become more faivorable to this
country, as is indicated by the excess of exports of merchandise over
imports,-in the month of September, which was nearly $8,000,000 in
favor of the United States.
* The following table showing the number of passengers to Europe by the steamship companies
from New York during the last fiscal year, has been, made up from copies of half-yearly stateiuenls
furnished by the companies to the custom-house:
PASSENGERS FROM N E W YORK TO E U R O P E , DURING THE FISCAL YEAR ENDING
J U N E 30, 1889.
Adults.
Children.
Steam-ship line.
Total.
Cabin.
French
White Star.
,
Cunard
Netherlands
State
Guion
Hamburg
Thingvalla.
Fabre (Italian)
Anchor
Inman
North German Lloyd
Red Star
National
Spanish
Various
Total
,
Other.
Cabin.
Other.
9,841
4,381
14, 761
1,947
• 2.034
3, 809
3,826
216
14
6,233
7,503
12, 360
3,729
442
475
643
8,405 (Includes children.
9, 263
166
- 426
11,405
611
1,029
5, 843
243
655
1,942
202
205
5,299
303
380
5,141
412
340
1,792
224
57
3,685
17
6,665
047'
805
7, 321
652
883
15, 760
1,621
1,937
7, 342
279
593
' 56
1, 825
175
65
143
6
62
1,504
143
72, 214
93, 395
5,376
7,818
18,246
14, 236
27, 866
8,088
4,383
9,791
9 719
2,289
3,716
14, 350
16, 359
31, 078
11. 943
2, 498
6h9
2, 352
178, 803
The average amount used on letters of credit, issued by eight leading banking houses of New York,
was about $i, 500.
An estimate of $1,000 (say 100 days at $10 per day for all kinds of expenses and purchases), as the
average amount expended by or on account of each cabin passenger would certainly be low.
While it is difiicult to estimate the amount expended by third-class passengers, an average ot $150
for each would seem safe.
The result would be as follows :
^
Cabin passengers (77,590 at $1,000).
>
.
$77,590,000
Third-class passengers (101,213 at $150)
15,181,950
Total estimated expenditures by passengers from New York to Europe
G2, 771,950
DIRKCTOR OF I H E
127
MINT.
STOCK OF COIN IN THE UNITED STATES-
xThe following estimate of the stock of coin in the United States, at
the close of the fiscal year 1889, is presented :
1
STOCK o r
U N I T E D STATES Qom,
Items.
J U L Y 1,
1889.
Silver.
Gold.
E s t i m a t e d s t o c k of coin J u l y 1, 1888
$595, 349, 837 $376,jH5,166
25,543,910
34,'515, 546
1210,569
N e t i m p o r t s of U n i t e d S t a t e s coin, fiscal y e a r 1889
Total
Total.
620, 893, 747
•
LessU n i t e d S t a t e s coin r e c e i v e d a t t h e m i n t s for re-coinage,
fiscal y e a r 1889
'.
N e t e x p o r t s of U n i t e d S t a t e s coin, fiscal y e a r 1889
E s t i m a t e d t o h a v e b e e n u s e d in t h e a r t s , fiscal y e a r 1889
410j841,281
1
$971,465,00^
60, 059,450 1
210, 569
1. 031, 735, 028
•
1
1,12.1,862
2, 740, 320
3, 700, 000
585, 067
2, 740, 320
3, 500, 000
1 200. 000
6, 825, 387
' 736, 795
7, 56J, 182
614, 068, 360
410; 104, 48(5
1
1, 024,172, 846
t 536, 795
1
Total deductions
E s t i m a t e d s t o c k of U n i t e d S t a t e s coin, J u l y 1, 1889
In addition to the stock of coin in the United Statqs, at the close of
the fiscal year 1889, there was gold and silver bullion; in the mints and
assay offices, awaiting coinage, valued 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 , J U L Y 1,
1889.
I
Metals.
Value.
Gold
S i l v e r (cost)
$65, 995,145
10,444,44'i
.'
f.
Total
L
.
•
•
76, 439, 588
!
Adding the bullion to the coin, we have a total metallic stock, at the
close of the fiscal year 1889, as follows :
METALLIC
I
•
STOCK, J U L Y
'
1, 1 8 8 9 .
!
1
'
1
•
Coin a n d b u l l i o n .
.
•
Gold
1 Sifver (bullion i n m i n t s a t cost v a l u e )
1
L
i.'
j
L
:. -
Total
• •
Value.
.
•
$680, 063, 505
420, 548, 929
1,100, 012,434
I1
"
The metallic stock at the commencement of the fiscal year was as
follows:
I
I
[
METALLIC STOCK, J U L Y 1, 1888.
Coin a n d bullion.
Gold..
Silver
.
Total..
'
-
Value.
$705, 818, 855
386,611,108
..
'
i.
.
•
i
. .
1, 092, 429, 963
128
REPORT ON T H E FINANCES.
From the above figures, it will be seen, that the stock of gold in the
country was reduced, during the last fiscal year, $25,755,350, and the
stock of silver, increased $33,937,821.
These changes in the rnetallic stock are worthy of note, for the reason
that, since 1875, there has been an uninterrupted increase in the accumulation of gold in the United States, and the past year is the first, in a
long series of years, in which there has been a reduction in the gold
stock of the country.
The ownership, as distinguished from the location, of the precious
metals, on the 1st,of July, 1889, is exhibited in the following table:
O W N E R S H I P OF GOLD AND S I L V E R I N T H E U N I T E D STATES, J U L Y 1,
S i l v e r coin a n d b u l l i o n .
Ownership.
G o l d coin
a n d b u l l i o n . Silver dol- S u b s i d i a r y
s i l v e r coin.
lars.
Silver
bullion.
T o t a l silver.
1889.
T o t a l gold
a n d silv e r coin
and
bullion.
1
U n i t e d S t a t e s T r e a s u r y . . . *$186,451,708 t$21,889,786 $25,124,672 $10,444,443- $57,458,901 $243,910,609
N a t i o n a l b a n k s ( J u l y 12,
23,734,469 175,903,869
1889)..
tl52,169,400 §19.238,787
B a n k s other t h a n national ( v a l u e s specifically r e 4,495,682
ported)
46,911,653
2,118,516"
2,118,516
49,030,169
Banks other t h a n national (values n o t specifically r e p o r t e d ) a n d i n p r i 294,530,744
46,981,482
290,255,561
337,237,043 631,767,787
680,063,505
Total
333,502,650 76,601,836 10,444,443 420,548,929 1,100,612,434
* Gold coin and bullion iu the Treasury, exclusive of $117,130,229 gold certificates outstanding,
f Silver dollars in the Treasury, exclusive of $257,155,565 silver certificates outstanding,
et Includes Treasury and clearing-house gold certificates, $78,261,790.
^
^Includes$12,452,057 silver certificates held b}"^ national banks.
.
\\
•
It is proper to state, that, in preparing this table, the amount of gold
coin in banks other than national, from which reports have been received, viz: $46,911,653, is an estimate, based upon returns of certain
banks to the Comptroller of the Currency, about the close of the fiscal
year.
The banks reporting form but a small proportion of banks in the
United States, and, moreover, their reports, which are voluntary, frequently do not distinguish between gold coin and other assets, so that
the amount of gold coin entered in the table as owned by banks other
than national, hat partially represents the gold held by such banks.
From the above table it will be seen, that t h e amount of gold owned
by the Treasury of the United States on July 1,1889, was $186,451,708,
against $194,218,632 owned at the corresponding period of the prior year^
showing a loss of gold to the Treasury during the year of $7,766,924.
The amount of silver owned by the Treasury on July 1,1889, was
$57,458,901, against $80,039,794 at the close of the preceding fiscal year^
showing that the Treasury owned $22,580,893 less silver at the close of
the fiscal year 1889 than at the close of the preceding year^ the falling
off being principally in silver dollars.
The following table exhibits the amountof paper and metallic money
in the United States^ and the location of the same^ on July 1, 1889:
DIRECTOR
OF THE
MINT.
.
129
LOCATION OF THE MONEYS OF THE U N I T E D STATES, J U L Y
Items.
I n Treasury,
I n nalionul
b a n k s .•) Illy
12. 1889)."
I,
1889.
I n uirculatlOil.
Total.
ME TALLIC.
Gold b u l l i o n
Silver b u l l i o n
Gold coin
Silver dollars Subsidiary" silver coin
Total
Legal-tender notes
Old d e m a n d n o t e s
Certificates of d e p o s i t . .
Gold certificates
S i l v e r certificates
National-bank notes ..
Total.
$65, 995,145
10, 444,443
237, 586, 792
279,045,351
25.124, 072
$65, 905, 145
10,444,443
614, 068, 360
333, 502, 650
70,601,836
*$82, 651, 610
6, .786, 730
4.495,081
618,106,403
93, 934, 021
388,1482,010 1, 100,612,434
147,196, 825
97,456,832
202,1027, 359
I 56,442
240. 000
36,918,323
5, 474,181
4,158, y30
16, 955, 000
69, 517, 790
,12,452,057
+27, 715, 587
47,|612,439
244,1703, 508
179,1505. 046
346,681,016
56, 442
17,195, COO
154,048, 552
262, 629, 746
211, 378, 963
93, 987, 659
224, 097, 266
673,j904, 794
991, 989, 719
$293,1829,958
47,|G7U,569
40,1981,483
* I n c l u d e s $8,744.00D c l e a r i n g - h o u s e gold c e r t i f i c a t e s .
t I n c l u d e s .$10,955,000 held for t h e r e d e m n t i o n of certificates of d e p o s i t fori l e g a l - t e n d e r n o t e s , a c t
of J u n e 8, 1872.
*
i
.
I I n c l u d e s $2,954,100 of t h e i r o w n n o t e s h e l d b y t h e different n a t i o n a l b a n k s , j ,
For the purpose of comparison, a similar table for the period July 1,
1888, is presented:
I
LOCATION OF THE M O N E Y S OF T H E U N I T E D STATES, J U L Y 1,
items.
I n Treasury.
I n national
banks.
1888.
I n circulation.
Total.,
METALLIC.
Gold b u l l i o n
1
Silver b u l l i o n
S i l v e r b u l l i o n (melted trade-dollars) .
Gold coin
Silver d o l l a r s
.^....
S u b s i d i a r y s i l v e r coin
Total
$110, 469, 018
3, 950, 388
6, 545, 554
203, 636, 984
243, 879,487
26, 051,741
$110,469, 018
3, 950, 388
6, 545, 554
595, 349, 837
299, 708, 790
70^406, 376
*$95,709, 782 $296, 003, 071
6, 906,432
48|,922,871
. 2, 819, 278
47, 535, 357
594, 533,172
105, 435,492
152, 398,204
81,995,643
212, 287,169
250, 000
22; 135, 780
29,104, 398
7, 054, 221
12, 315, 000
68, 761, 930
7,094,854
+25,130,431.
i 56,807
i, 100, 000
51,125, 440
193, 292, 522
220,183, 669
346, 681, 016
50, 807
14, 665, 000
142,023,150
229,'491, 772
252, 368, 321
110,942,601
195,297,858
679, 045, 607
985, 286, 006
392,461, 299 1,092,429,963
PAPER.
Legal-tender n o t e s . . . . .
Old d e m a n d n o t e s
Certificates of d e p o s i t .
Gold certificates
S i l v e r certificates
National-bank notes ...
Total
* I n c l u d e s $20,884,000 c l e a r i n g - h o u s e gold certificates.
j
• I n c l u d e s $14,415,000 held for t h e r e d e m p t i o n of certificates of d e p o s i t for l e g a l - t e n d e r notes, a c t of
J n n e 8,1872.
j
J I n c l u d e s $3,787,026 of t h e i r o w n n o t e s h e l d b y t h e ditl'orent n a t i o n a l b a n k s j
FI 8 9 — 9
i
i
I
•
•
130 .
REPORT
ON T H E
FINANCES.
From an exaujination of the above tables, it AYIU be seen that the
amount, of metallic and paper money in circulation in the United States
(outside of the Treasury), on July i , 1889, was $1,380,418,091, against
$1,372,240,256 at the close of the preceding fiscal year, showing an
increase in the amount of money in circulation between those dates of
$8,177,835.
, _
,
"
•
; _
The following statement exhibits, approximately, the stock of gold
and silver coin, in the United States, on November. 1,1889 :
GOLD AND S I L V E R C O I N I N T H E U N I T E D STATES, NOVEMJBER 1, 1889.
Silver coin.
Gold coin.
Date.
Silver dollars. Subsidiary..
Stock July 1, 1889
Gain since that date . . . .
Stock November 1,1889 .
$614, U68, 360
5. 572, 090
$333, 502, 650
10,135, 351
$76, 601,,830
26, 945
619,640,450
343,638,001
76, 628, 781
Total silver.
Total gold
and
silver coin.
$410,104, 486 $], 024,172, 846
10,162, 296 , 15,734,386
420, 266, 782
1,039,907,232
The value of the gold and silver bullion in the mints and assay ofi&ces,
awaiting coinage^ at the same date was as follows:
GOLD AND S I L V E R B U L L I O N 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, 1889.
Metals.
Gold
Silver '.
.-'
..
Cost value.
1
Total
$64, 554, 236
iO, 918,171
:
75, 472, 407
Adding this to the stock of coin, we find the total metallic stock in
the Unitejd States on November 1, 1889, to be as follows:
TOTAL METALLIC STOCK NOVEMBER 1, 1889.
Gold...
Silver
..:...
,^
Total.
.....:
$684,194,686
431,184,953
1,115,379,639
GOLD AND SILVER USED IN T H E INDUSTRIAL ARTS IN THE
STATES.
UNITED
^ .
The last inquiry made by this Bureau of jewelers and manufacturers,
for the purpose of ascertaining the amount of gold and silver used annually in this country in the industrial arts, covered the calendar year
1885.
• The value of the precious metalf?, reported by manufacturers, jewelers,
and others as, used during that year, was :
Gold.......:
Silver
Total
$11,152,120
5,198,413
,
„.
16,350,533
DIRECTOR
131
OF T H E MINT.
Since 1885, the eHbrts of the Bureau, in this line, have been confined
to ascertaining annually the value of tbe bars of gold and silver-furnished,
by Government institutions and by private refineries^ to jewelers and
others, for industrial use.
I
An inquiry of the latter kind, while valuable and involving but few
difficulties as compared with the more laborious task of ascertaining
from consumers of the precious metals the amounts o|f gold and silver
yearly employed by them in the manufacture of waifcches, jewelry, in
gilding, etc., is necessarily imperfect in its results, and does not enable
us to determine, even approximately, the amount of gold and silver used
annually in the industrial arts, for the reason that it; does.not include
the extensive melting down of coin, especially United Sjtates coin, which '
is one of the most important objects sought. The melting of coin for
industrial use, is principally by jewelers, in the manufacture of small
articles of jewelry and in j-epairs.
|
'
The following table exhibits the value of the gold and silver bars
furnished manufacturers, by Government institutions 4nd private refineries in the United States, presumably for use in the industrial arts,
during the calendar year 1888^ and the material used iii the composition
of such bars:
j
VALUE O F GOLD AND S I L V E R BARS FURNISHED F O R U S E I N MANUFACTURES AND
THE ARTS, DURING CALENDAR YEAR 188?!^, AND CLASSiFiCATioisr OF THE MATERIAL
USED.
I
Material used.
Gold.
Silyer.
Total.
1
Domestic bullion
United States coin
Foreign coin and bullion
Old material . . . . . . . . . . . .
°
...
Total
............'. ..
....
,
$9,893,057.06
309,183.97
718, 808.70
2,402,975.73
$6,4771856.94
6- 259. 77
' 77l|,-985. 39
652; 046. 69
$16,370,914.00
315 443 74
1,490,794.09
3,055,022.42
13, 324, 025. 46
7,-908; 148.79
21,232,174. 25
1
The value of United States gold coin melted for use in the manufacture of bars for industrial purposes, during the calendar year 1888,
was only $309,183.97, against.a reported melting downtof United States
gold coin for industrial employment, reported by jewelers and manufacturers for the year 1885, of $3,500,000.
'
I
. Unless there has been a decided falling off in thej amount of coin
melted for industrial purposes by jewelers, the value of the gold used
annually in the United States in theviudustrial arts m'ay be placed at,
approximately, $16,500,000, and of silver, at about $8,000,000.
Of the gold used for this object, about $3,500,000 represent our own
coin melted down, $3,000,000 old and foreign material remelted, leaving
$10j)000,000 approximately, representing the annual procluct of gold used
for Industrial purposes in this country.
j
132
REPORT ON T H E FINANCES.
The following table exhibits, the value of the bars of gold and silver
issued at the United States assay office at New York and at the mint
at Philadelphia, presumably for use in the industrial arts, during the
fiscal year 1889:
.
VALUE AND CoiMPOSixiON O F BARS, F O R INDUSTRIAL U S E , ISSUED B Y T H E U N I T E D
STATES ASSAY O F F I C E AT N E W YORK, DURING T H E FISCAL YEAR 1889.
Bars manufactured.
,
Material used.
•
Oold.
Fine ounces.
United States coin
Foreign coin
Domestic bullion . . . . . . . . . . .
Foreign bullion
Old plate, jewelry, etc
'
:
. . . . ..
.
Value.
Silver.
Fine ounces.
Value.
570.06
19,304.88
$106,759.26
1,898,998. 28 2, 868, 713. 38
219,484.72
583, 834.81
260,076.02
1,666,180.82
$634.07
21,449.87
3,187,459.31
648,705.34
288,973.36
188, 247. 591
3, 891,423.08
4,147,221.95
134, 737. 819
2, 785,277.91
142, 910.559
2,954,223.45
Total
277, 648.378
5,739,501.36
Grand total' gold. -
465, 895. 969
9,°630,924.44
Total
Large gold bars exchanged for gold coin rered eposited for small bars
Large gold bars taken by manufacturers in
exchange for gold coin
5,164.479
91,864.042
10,617. 573
80,601.497
3,732,499. 75
o
•
V A L U E AND COMPOSITION O F BARS, F O R INDUSTRIAL U S E , ISSUED B Y T H E M I N T
AT P H I L A D E L P H I A , DURING T H E F I S C A L YEAR 1889.
"Bars manufactured.
Material used.
Gold. '
Fine ounces.
TTnited States coin .....<.<>............
Oldnlate iewelrv etc . . . . . . . . . o . . . . . . . . . . . .
lixcbancre bars sold for coin . . . . . . . . . . . . . . . .
Total
.
Value.
Silver.
Fine ounces.
Value.
769.622
3, 662. 667
29,135.921
$15,909.51
75,714.04
602,292.94
8,646.53
$9,607.25
33,. 568. 210
693, 916:49
8, 646.53
9,607.25
' The value of the gold bars paid out at these institutions, for industrial
use, during the last fiscal year, amounted to $10,324,840.93 against
$10,286,941.01 intheprior fiscal year; and of silver, $4,156,829.20 against
$4,963,294.36j in the fiscal year 1888.
PRODUCT -OF GOLD AND SILVER.
The product of the precious metals from the mines of the United
States during the calendar year 1888 was presented in the special report on that subject issued from this Bureau,
133
DIRECTOR .OF T H E MINT.
The product was estimated to have been as follows:
Commercial
, value.
Fine ounces.
Metal
1, 604,841
45, 783, 632
Gold
Silver
Total
Poining value.
$33,175,000
43, 020, 000
• $33,175,000
59,195,000
76,1^,000
92,370,000
The distribution o t t h e product among the producing States and Territories, was, approximately, as follows :
i
APPROXIMATE DISTRIBUTION, I N ROUND NUMBERS, B Y STATRS AND T E R R I T O R I E S , OF
THE ESTIMATED PRODUCT OF GOLD AND S I L V E R I N T H E U N I T E D STATES, 1888.
Gold.
Silver.
Total
value.
state or.Territory.
Fine
ounces.
Alaska
Arizona
—
California
Colorado
Dakota
-.
Georgia.
Idaho
Michigan
Montana
'N evada
ISTew Mexico
North Carolina
Oregon.
....i
South Carolina
-.
Utah
"Washington
Texas
Alabama, Maryland, Tennessee, Virginia,
Vermont, and Wyoming
Total
Value.
Fine
ounces.
Value.
2,320
$850, 000
41,119
2, 320, 313
871, 500
42,159
616, 781 12, 750, 000 1, 082, 812
181, 793 3, 758,000 14,695,313
77, 344
125,775 2, 600, 000
387
104, 000
5,031
2, 320, 313
116,100 2,400,000
64,969
42,000
2,032
203,175 •4,200,000 13,148,437
3, 525, 000
5, 414, 062
170, 522
602, 000
928,125
29,122
136, 000
2,707
6,.579
825, COO
11,602
39, 909
154
39, 000
1,887
5, 414, 062
290, 000
14, 029
• 145, 000
77, 344
7,014
232,031
1,451
30, 000
$3, 000
3,000,000
1,400, 000
19, 000,000
100, 000
500
3, 000, 000
84,000
17, 000, 000
7, 000, 000
1, 200,000
3,500
15, 000
200
7, 000, 000
100, 000
300, 000
387
500
$853.000
3,871, 500
14,150, 000
22, 758, 000
2, 700, 000
104; 500
5,400,000
126,000
21, 200, 000
10,525,000
1, 802, 000
139, 500
840, 000
39, 200
7, 290, 000
245,000,
300, 000
30, 500
1, 604, 478 33,167, 500 45, 792, 682 59, 206, 700 92,374,200
The product of gold and silver from the mines of the United
since 1878, has been as follows i
!
GOLD PRODUCT OF T H E U N I T E D STATES.
Years.
1878
1879
1880.
1881
1882.
1883.
1884.
1885.
1886.
1887.
1888.
tates,
I
Fine ounces.
2,;476,800
1,|881.787
l,l741, 500
1,1678, 612
1,1572,187
1,(451,250
1,|489, 950
1,1538,325
1,1693,125
1,1596, 375
1,1604, 841
_J
Value.
$51,200, 000
38, 900. 000
36, 000, 000
34, 700, 000
32, 500, v)00 .
30,000, noo
30, 800, 000
31, 800, 000
35, 000, 000
33, 000, 000
33,175,000
134
KEPOHT 01^ THE FINANCESo .,
SILVER PRODUCT OF THE UNITED STATES.
Years.
1878
1879
1880
1881
1882
$40,270, 000
35,430,000
34, 720, 000
37, 850, 000
41,120, 000
39, 060, 000
42, 070, 000
34, 960, 000
. 31, 550, 000
30, 320, 000
33, 260, 000
36, 200, 000
35, 730, poo
37,800,000
39, 910, 000
39, 440, 000
41, 260, 000
45,780,000
..
1883
1884
1885
1886.'.
]887
1888
Commercial,
value.
F i n e ounces.
:..
.....-'
:...
. . .
42, 500, 000
39, 230, 000
40,410, 000
43, 020, 000
Coining value.
$45, 200, 000
• 40,800,000
39, 200, 000
43, 000, 000.
' 46,800,000
46, 200, 000
48, 800, 000
51, 600, 000
51,000 000
53, 350, 000
59,195,000
•
3*
In the Appendix will be found a table showing the value of the gold
and silver produced annually in the United States since 1792.
A table will also be found, cosaipiled i)rincipally from information
furnished by foreign governments and revised from the latest returns
in the possession of this Bureau, showing by weight and value, the
product of gold and silver in the principal producing countries of the
world, for the calendar years 1885, 1886,1887 and 1888. The value of
silver in the table is stated, as in all previous tables contained in the reports of this Bureau^ at coining, rate.
In the following r6sum6 of the world's production for each of the
years named, silver is given at: its commercial value, that is, at the
average price of silver bullion duringthe year, and also at coining
value.
PRODUCT OF GOLD AND SILVER IN THE WORLD.
•
Gold.
Silver.
Value at
average
p r i c e of silver tor t h e
- year.
Calendar years.
Kilograms.
1885
1886
,
]887
1888
1.63,162
159, 741
160,933
159,490
Value.
Kilograms.
$108,435,600
106,163,877
106, 954, 900
105, 994,150
2, 849, 995
• 2, 902,471
3, 021, 585
3, 427, 205
$97, 564, 565
93, 297, 2G0
95, 086, 095
103,550,260
V a l u e (coining rate).
$118,445,150
120,620,800
125, 576, 710
142,437,150
For the purpose of comparison the following valuable tables, which
have never before beenpabli'J5hed,kindly sent this Bureau by Dr. Adolf
Soetbeer, giving his latest estimates of the production of gold and
silver in the world, for the same years, are presented:
P R O D U C T OF GOLD I N T H E
Years.
1885
1886
1887
1888
WORLD.
Kilograms.
,
154, 500
161,450
160, 000
160, 000
1
s
•
Value.
$102, 578, 000
107,133, 000
106, 314, 000
106, 267,000
135
DIRECTOR OF T H E MINT.
PRODUCT OF S I L V E R I N THE W O R L D .
1
Years.
1885
1886...
1887..
1888
:
.-
Kilograms.
3,176, 000
3, 238, 000
3,414, 000
3,637,000
. '
Value at averagie price of Value at coinsilver (tor the
ing rate.
. year. |
1
$108,861,000
103, ^44, 000
107, 242, 000
109, 932; 000
$136, 000, 000
138, 500, 000
146, 000,000
155,500,000
1
From a comparison of the above tables it will be seen that there is a
substantial agreement as to the annual product of gold in the world;
but in the case of silver there is a very large discrepancy, the eminent
statician's estimate of the silver product being each year largely in excess
of the estimate of this Bureau, and this notwithstanding the fact that,
in the estimate of this Bureau for the calendar year 1888, a silver production of the value of $5,000,000 has been credited to Australia, which
apparently is not embraced in the estimate of Dr. Soetbeer, unless it is
included in the item "> other countrieis.'^
i
The difference in the silver product as estimated jannually by this
Bureau and by Dr. Soetbeer is occasioned by the fact that the latter
credits Germany with the silver product of its smelting works, aggregating for the last year over 406,000 kilograms ($16,0d0,000, at coining
value), while this Bureau credits Germany with only tihe product of its
own mines, as published in its statistical journals.
|
I t is a well-known fact, frankly acknowledged by I^r. Soetbeer, that
the bulk of the silver product of Germany is extracted jfrom foreign ores
and other foreign material. The value of silver contained in exported
ores is reported to this Bureau by exporting countries as a part of the
annual product of their mines, and is credited the proiiucing countries.
It would be a duplication, if this Bureau should agaih credit the silver
contents of these ores to Germany in the product of its smelting works.
On the other hand, the gold product of the smelting works of Germany is credited that country in the statistics of this Bureau, although,
as iu the case of silver, it is obtained almost exclusively from foreign
material.
!
The reason for this seeming inconsistency is that the gold obtained
in Germany from foreign products occurs in minute and desultory
quantities, principally in copper matte and other furnace products, which
are shipped to Germany for smelting and refining andj incidental recovety of the precious metals, and this gold is not report!ed to this Bureau
by exporting countries, so that if omitted from Germany's product it
would escape record altogether.
i
A large silver product, $5,000,000, is credited Ausjtralia in the year
1888. The silver was mined in the colony of ]S"ew South Wales, and
probably was in excess of the amount given.
!
From the report of the Broken Hill Proprietary Company, of the Barrier Eanges Silver Field, in New South Wales, thej product of silver
from that mine for the past half year was 2,677,686 onnces.
The following statistics, kindly furnished the Bureau by Mr. E. P . '
Eothwell, one of the editors of the Engineering and Mining Journal,
will be of interest.
I
The market value of ounces of fiue silver produced, and of s|ilver in ore exported
from the colony of New Squth Wales last year, 1888, was $5,512,025. This amount
w i n show a very large increase in the present year, as the numlier of fine ounces pro-
136
REPORT ON T H E
FINANCES.
duced by three companies in the month of J u l y was 721,412, or at the rate of 8,656,*
944 ounces per annum, without taking into account or^ shipments; and even this rate
of production is likely to be still further increased before the end o^ the year, as two
of the principal companies are adding to their smelting capacity, thus showing their ^
mine productions to he in excess of their means of reduction. Add to this the new
developments in the Broken Hill district, already mentioned in our issue of October
12, and fresh discovjeries of importance near Kangarilla, South Australia, since
announced, and in which t h e ore body is represented tp have a thickness of 38 feet,
and the ore an average value of 50 ounces, and it is quite clear t h a t our estimate of
October 5 of a production of 10,000,000 ounces a year from Australia is not excessive.
WORLD'S
COINAGE.
The value of the gold and silver coinages executed during the calendar years 1885, 1886, 1887, and 1888 by the nations of the world, so far
as reported, is presented in a table in the Appendix.
In compiling this table, the silver coinages of foreign countries have
been converted into United States money at their coining valiiOo
This table is believed to include substantially the entire coinage of
the world for the years named.
The following summary is presented : .
W O R L D ' S COINAGE.
—
••
•
-
-
•••
•
•'i
Calendax years.
1885
1886
1887.
1888
Gold.
SUver.
$95, 737, 582
94,642,070
124, 992,465
134,720,639
...:.
.'
$126,764 574
124,854,101
163,411,397
149, 737,442
The large increase, during the last two years, in the amount of gold
and silver employed in (coinage is worthy of note.
In regard to the silver coinage, it may be^said that the only mints
which are op^n to the coinage of silver for depositors are those of
India, Mexico, and Japan.
The silver coinage of Mexico is unimportant, as a comparatively small
amount remains in the country. The conversion of silver bullion into
Mexican dollars is simply a convenient means of putting it into some
merchantable shape for oriental trade.
The bulk of the silver coinage of Mexico is either remelted and used
in other coinages or is absorbed by Asia.
It will be understood that the coinages presented in the table do not
represent the value of the annual product of gold and silver employed
in coinage, forthe reason that they include recoinages of both domestic
and foreign coins and old material.'
""The following table of recoinages for the year 1888 has been compiled
from information furnished by foreign governments:
RECOINAGES R E P O R T E D B Y CERTAIN COUNTRIES—1888.
Countries.
United States.
Great Britain.,
(Janada
Australia
India
Eranco
Switzerland . .
Spain
Portugal
Gold.
Silver.
$507,916
8,163,388
$460, 300
1,146, 941
17,174
483, 433
'*i6,'984
18,183, 627
1,112,379
4; 436, 804
1,036,800
Countries.
Gold.
GercQany .
Denmark.
Turkey...
Egypt....
Mexico . -.
Colombia.
Brazil
$16, 321,492
Total.
25,559, 213
66, 000
Silver.
$989,127
8,040
74,448
81,483
337,558
663,069
202, 278
28,749, 928
137
DmtecTpR OP TilE MiNS'.
Of the coinage of gold by the mints of the world during the year 1888,
namely, $134,720,639, at least $25,559,213 arre known to have consisted
of coins remelted, thus reducing the supply of new cpin during that
year, to $109,161,426.
!
Deducting from the total silver coinage of the year, viz, ^149,737,442,
the recoinages reported, viz, $28,749,928, and the Mexican silver coinage (less recoinage already deducted), viz, $26,321,406, a total of
$55,071,334, the increase of the world's stock of silver; coin during the
year was $94,666,108.
•
|
Over 80 per cent, of this was full legal-tender coin issued from the
mints of the United States, India, and Japan.
|
0
I.
ESTIMATION OF T H E VALUE OF FOREIGN (jjOINSc
Section 3564 of the Revised Statutes requires that the values of the
standard coins in circulation of the various nations of | the world shall
be estimated annually by the Director of the Mint, and be proclaimed
on the 1st day of January by the Secretary of the Treasury,
In accordance with the requirements of this law the (Director of the
Mint estimated, and the Secretary of the Treasury proclaimed, the values
of foreign coins on January 1, 1889, to be as follows: !
•
•
••
."
•
'
'
j
Standard.
C ountry.
Monetary unit.
Peso
Value in terms of
United States gold
dollar.
VALUES O F F O R E I G N COINS, J A N U A R Y 1, 1889o|
$0.965
Argentine Eepublic. '
Double
Austria
Single silver Florin
.336
Double .
Franc
.193
Bolivia
Brazil
Single silver Boliviano
Single gold.. Milreis of 1,000 reis
.68
.546
B r i t i s h Posses8 i o n 8 , North
America.
ChUi
Single gold.. Dollar
Double
Peso
.912
Cuba
Double
Peso
.926
Belgium
Denmark
Ecuador
.....
'
i
!
Values of coins.
1
I
i
f
Gold: argentine ($4.824j and ^ argentine. Silyer: peso and divisions.
[
Gold: 4 florins ($1,929), 8 florins
($3,858), ducat ($2,287), and 4
ducats ($9,158). Silver: I and 2
florins.
!
G old: ] 0 and 20 francs. Silver: 5
francs.
|
Silver: boliviano and divisions.
Gold; 5,10, and 20 milreis. Silver:
1, 1, aud 2 milreis.
1.00
i
Single gold.. Crown
-=oo. Single silver Sucre
.268
.68
G o l d : escud,o.($1.824), d'oubloon
($4.561), and condor ($9,123). Silver: peso and divisions.
G o l d : doubloon ($5 017). Silver:
peso.
1
Gold: 10 and 20*crowns.
Gold: condor '($9,647) and double,condor. Silver: sucre and divis-
ions.
1
138
liEl^OtiT ON THE FINANCES.
VALUES OF FOREIGN COINS, JANUARY 1, 1889—Continued.
County.
Standard.
Monetary unit.
II
Value of coins. ,
»
$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.
Franc
Silver: 5 francs.
Mark
.238 Gold: 5,10, and 20 marks.
Pound sterling
4. 866i Gold: sovereign (pound sterling)
and ^ sovereign.
Drachma
.193 Gold: 5,10,20, 50, and 100 drachmas.
Silver: 5 drachmas.
Peso
Silver: peso and divisions.
.68
Gourde . . . . . . .
965 Silver: gourde.
Peso . . . .
. 68 Silver: divisions of peso.
Rupee of 16 annas.
.323 Gold: mohnr ($7,105). Silver: rupee and divisions.
Lira
.193 Gold: 5. 10, 20, 50, and 100 liras.
Silver: 5 liras.
rGold...
.997 Gold: 1,2, 5, 10, and 20 yen.
Ten
? ,
(Silver..
.734 Silver: yen.
UoUar
1 00 '
Dollar
739 Gold: dollar ($0,983), 2^, 5, 10, and
20 dollars. Silver: dollar (or peso)
and divisions.
Florin
402 Gold: 10 fiorius. Si'lver: ^, 1, aud
2i florins.
Peso
68 Silver: peso and divisions.
Crown
.......
268 Gold : 10 and 20 crowns.'
Sol
68 Silver • sol and divisions.
Milreis of 1,000
I 08 Gold: 1, 2, 5, and 10 milreis.
reis.
B o u b l e of 100
.544 Gold: imperijil ($7,718), and I im-"
perialt ($3,860). Silver: ^ h, and
copecks.
1 rouble.
Gold: 25 pesetas. Silver: 5 pePeseta of 100 cen.193
setas.
times.
Crown
.268 Gold: 10 and 20 crowns.
Franc
.193 Gold: 5, 10, 20, 50, and 100 francs.
Silver: 5 francs.
Egypt
Single gold.. Pound (100 piasters).
France
Double
German Empire . . Single gold..
Great Britain
Single gold.Double . . . .
Guatemala
Hayti .
Honduras
India
Single silver
. . . . Double
Single silver
. . Single silver
Italv
Double
Japan
Double* . . . .
liiberia . . .
Mexico
. . . Sinffle o'old
Sin fie silver
£?•
Double
Nicaragua
Norway
Peru
'
Portugal
Single silver
Sin<^le o'old
Single silver
Single gold..
Eussia
Single silver
Spain
Double
Sweden
Switzerland
Single gold..
Double
Tripoli
Turkey
/
Single silver M a h b u b of 20
piasters.
. . .. Single gold.- Piasters
United States Co- Single silver Peso
lombia.
Venezuela
Single silver Bolivar
.614
044
.68
.136
Gold: 25, 50, 100, 250, and 500 piasters.
Gold: condor ($9,647) and doublecondor. Silver: peso.
Gold: 5, 10, 20, 50, and 100 bolivars.
Silver; 5 bolivars.
*Gold the nominal standard ; t^ilvo-r practicaliy the stanrlard.
tCdined since January 1, 1880.' Old half-impe.rial=$3.986.
DIRECTOR OF T H E
139
MINT.
In estimating the value of foreign coins, the value of the monetary
unit of countries having a gold or double standard Iwas ascertained
by comparing the amount of pure gold in such unit with the pure
gold in the United States dollaro The silver coins of such countries were given the same valuation as the corresponding gold coins
with which they are interchangeable. In countries I having a silver
stiandard, the value ot the silver coins was fixed at the gold value of
the pure silver contained in such coins, based upon the price of silver
in London for a period embraced between October 1 and December 24,
1888.
j
The average price of silver in Loudon for this period was 42.911 pence
per ounce, British standard, equivalent at the par of exchange to $0.94
per ounce fine, a decline of 2,6 cents from the price for; the corresponding period of the calendar year 1887o
I
The decline in the price of silver occasioned a changetin the estimated
value of each of the following coins:
*
|
CHANGES I N T H E V A L U E S O F F O R E I G N COINS FROM 1888 TO 1889,
Coins.
Florin of Austria
....
Boliviano of Bolivia.*
Dollar (or peso) of Colombia
Sucre of Ecuador
Peso of Guatemala
Peso of Honduras
Eupee of India
Silver yen of Japan
Dollar (or peso) of Mexico...
Peso of Nicaragua
Sol of Peru
Eouble of Eussia
Mahbub of Tripoli
Bolivar of Venezuela
Value,
January 1,
1889."
1.336
.680
.680
.OfO
.680
.080
.323
.734
. 739
.680
.680
.544
.614
.136
ANNUAL TRIAL OF COINS.
The Assay Commissioners appointed under the provisions of section
3547 of the jRevised Statutes, to test the weight and fineness of the gold
and silver coins of the calendar year 1888, reserved forjthat purpose by
the coinage mints, were as follows: Hon. I). W. Voorhees, U. S. Senate;
Hon. Charles Tracey, House of Representatives ; Messrk C. O. Boutelle,
Washington, D. C.; A. J, Bowie, California; Francis ik. Burdick, Kew
York; George Ho Cook, JSTew Jersey; Edward Hall, NIJW York; E. N.
Horsford, Massachusetts; Charles J. Leeds, Louisiaika; Henry Leffmann, Pennsylvania; Henry Morton, IsTew Jersey; Gebrge C. Munson,
Colorado; J. S. Newberry, JSTew York; William H.Pettee, Michigan;
Eobert H. Eichards, Massachusetts; Eobert P. Waring,. North Carolina:
I
The Commission met in Philadelphia February 13,1889, the following
ex.officio commissioners being present: Hon, William: Butler, United
States judge for the eastern district of Pennsylvania, land Herbert C
Torrey, assayer of the IJnited States assay office at New York.
140
:iaEPORT ON THE
FINANCES.
The committee on counting reported the following coins as reserved
at the several mints for the purposes of the Commission:
COINS R E S E R V E D FOR A N N U A L A S S A Y , 1889.
Number of pieces.
Mints.
Gold.
Philadelphia
San !Francisco
New Orleans
.•
-
---
Total
Silver.
Total.
456
1,807
22
12,369
1, 797
6, 075
12i 825
3, 604
6,097
2,285
20, 241
22, 526
The result of the annual test as to weight and fineness of the coins
of the United States during the calendar year 1888 is exhibited in the
following.resolution, adopted by the Commission:
Eesolvedy That t h e Assay Commission having examined and tested t h e reserved
coins of t h e several mints for the year 1888, and it appearing t h a t these coins do n o t differ from the standard fineness and weight by a .greater quantity than is allowed
by law, the trial is considered satisfactory.
PROPOSED LEGISLATION,
I have the honor to recommend that legislation looking towards the
discontinuance of the coinage of the 3dollar and 1-dollar gold pieces
and the 3-cent nickel piece be requested of Congress.
With regard to the 3-dollar gold piece, it may be said that that denomination of coin serves no useful purpose, and that its present coinage is limited to a few proof coins sold at a profit by the Mint, to meet
the demands of numismatic societies and coin collectors. There is no
demand for it by the business public.
'
The same objections apply, to the 1-dollar gold piece, with the additional ones that it is too small for circulation, anci that the few pieces
issued annually from the Mint are used almost exclusively for the purpose of ornament.
'
So long as statutory authority exists to coin this latter denomination,
the suspension of its coinage by the Secretary of the Treasury is of
doubtful legalityc The most he has ever felt warranted in doing was
to limit its coinage to pressing demands about the holiday season, and
to maintain, unbroken, the series of coin sets sold by the Mint. The
very limitation of its coinage leads to favoritism in the distribution of
the'few pieces struck annually', and to speculation in them.
The 3-cent nickel piece is open to the more important objection that
it has so nearly the size and appearance of the 10-cent silver piece that
it is frequently mistaken for it, much to the annoyance of the public,
who receive it reluctantlyo
'
It is further recommendecl that any act which may provide for the
discontinuance of the coinage of these pieces, authorize their withdrawal
from circulation as fast as received in the Treasury, and their recoinage
into other denominationSo
SUMMARY OE OPERATIONS OF T H E MINTS AND ASSAY OFFICES.
. The bullion deposited in the mints and assay offices of the United
States during the fiscal year 1889 contained 2,628,413 standard ounces
of gold and 35,627,273 standard ounces of silver of the total coining
value for both metals of $90,357,963o
141
DIRECTOR OF T H E MINT,
The amount of bullion deposited represents only partially the operations of the mints and assay offices.
i
All deposits, unless they consist of fine bars, are first melted in the
superintendent's department. The deposits are then jdelivered to the
melter and refiner for manufacture into ingots or bars. This necessitates a remelting of all deposits; the refining by acid of such deposits
as contain base metals; the parting of the precious imetals; and the
subsequent renielting and alloying with copper of the' refined product
of the acid i:efineries intended for ingots,
j
As representing the magnitude of the operations of the melting departments of the mints and of the E"ew York assay clffice during the
past fiscal year, the following table has been prepared j:
B U L L I O N OPERATIONS O F T H E MELTING DEPARTMENPTS, 1889.
— -
Metals.
Gold
Silver
,
Total
,
standard
ounces.
1
4,189* 837
71,183';, 258
0
..:
i
Coining value.
$77, 950,461
82,831,430
160, 781,891
i
The work of the coining departments of the three doinage mints in
operation during the year, namely, at Philadelphia, Saiji Francisco, and
New Orleans, which operations consist in the conversion of ingots of
gold and silver prepared by the melting department ihto finished coin,
is presented in the following table:
j
-
BULLION OPERATIONS O F COINING DEPARTMENTS, (1889,
Metals.
Standard OUD ces.
*
Gold
Silver
2,684, 9m
61,073,l42«
1
o
^
--.
Total
Coining value.
$49,940, 336
71, 067,262
121,007,598
1
The work of the minor assay offices (in cl uding the^ m;int at Denver),
located at Helena, Mont.; Bois6 City, Idaho"^ Charlott^, ISTo C , and St.
Louis, Mo., consisting of the manufacture of unparted liars of gold and
silver, which bars are either paid back to depositors or- shipped to the
mint at Philadelphia for coinage, was as follows i
\
,
OPERATIONS OF M I N O R ASSAY O F F I C E S ,
1
Metals.
1889.
Standard ounces. "^Coining value.
i
Gold
Silver
Total......
, 192, 238
85, 2'l7
$3,576,524
99,162
3,675, 686
142
REPORT ON T H E FINANCES.
The following table is a recapitulation of the previous tables exhibiting the work of the melting and coining departments of the mints and
assay offices during the fiscal year:
BULLION OPERATED U P O N I N T H E M E L T I N G AND C O I N I N G DEPARTMENTS OF ALL
THE M I N T S AND ASSAY O F F I C E S , 1889.
.
Gold
Silver
,
Standard ounces.
Metals.
..
.
--.
7,066, 368
132,341,904
.
-
Coining value.
.........
$131, 467, 321
153,997,854
285,465,175
Total
The weight of the precious metals operated upon in the mints and
assay offices during the fiscal year was about 241 tons of gold and
4,534 tons of silver.
The wastage in operating upon this quantity of bullion amounted to
$16,071.31.
In addition to operative wastage, there was a loss of $15,468.89, occasioned by the sale of precious metals, in sweeps accruing in the operative departments, too base to be worked advantageously by Government refineries, and representing the difference between the value of the
precious metals contained in the sweeps credited the operative offices
and the net sum realized from their sale.
The total wastage and loss on sweeps was $31,540.20,
Against this loss there were incidental gains in the operations on
bullion, as follows:
Value of surpl us bullion returned by oi^erative officers
$25,264.52
Value of precious metals contained in grains and sweepings recovered in
deposit melting room
9,558.79
Gain on bullion shipped by tbe minor assay offices to tHe mint at Philadeli)hia for coinage (being the diiference between tbe amount paid depositors and the amount allowed by the mint)
.
4,619.21
Total operative gains ..*... -°-..'.
^,
39,442.52
Hence there was a^net gain in the operations on bullion 'during the
year of $7,902.32.
The relative cost per piece of the coinage executed at the mints during the year is exhibited in the following table i
COST O F COINAGE AT EACH M I N T , 1889,
Location of mint.
Philadelpliia
San Francisco. -^
New Orleans'
Total and average.
Number of
pieces coined.
Number of
pieces coined,
exclusive of
minor coins.
Expenses for
Cost per
Cost per
salaries,
piece, includ- •piece, exwages and
iiig minor clusive of miincidentals. •
coinage.
nor coinage.
77,544,801
3, 574,504
12, 307,835
26, 027, 940
3, 574, 504
12, 307, 835
• $543,369.50
255,224. 88
213,'498. 68
93,427,140
41, 910, 279
1, 012, 093. 08
$0. oa7
.072
. 0173
.
.0108
$0. 0209
.072
0173
.024
I t is difficult to draw a comparison between the cost of coining at the
various mints for the reason that the charact er of the coinage executed
at them is so dissimilar.
i
DIRECTOR
OF
143
TlI?! MINT.
At the mint at Philadelphia a variety of coins are manufactured,
comprising a limited quantity of gold pieces, alarge silver coinage, and
a still larger minor coinage. For some years past, and at present, the
blanks, or discs, for the minor coinage are purchased under contract, so
that ihe mechanical operations necessary to convert thfem into finished
coins consist merely of heating and cleaning the discs and striking the
coins. The cost of this work is out of all proportion to the co,st of manufacturing gold and silver coins.
I
At the mint at San Francisco, on the other hand, the qoinage executed
is almost exclusivly gold, which is the most expensive jcoinage, requiring greater care and skill.
I
At the mint at New Orleans, the coinage consists a;lmost exclusively
of silver dollars manufactured from refined silver bars, alloyed with
copper.
i
So that the cost per piece of the coinage of each miht is of but little
practical value as a basis of comparison of one institutioin with another.
The following table exhibits the proportion of good coin produced
from ingots operated on, in each of the coinage mints, during the fiscal
year:
v*
.
PERCENTAGE O F GOOD COIN PRODUCED TO INGOTS OPERATEEJ U P O N
F I S C A L Y E A R 1889.
•
!
—-'
-
FOR THE
1
Gold.
Silver.
Per cent.
42.6
51.2
51.25
Per cent.
48.1
54.0
50.6
Coinage mints.
Philadelphia
San Francisco.
New Orleans
.. .
.
...'.
-
-
-
-
-
'.
..I.
-i
1
MINT AT PHILADELPHIA.
The value of the precious metals deposited and purchased at the
mint at Philadelphia during the fiscal year was as follows:
Gold
Silver
|..-.
!....
.•
$4,584,222.17
22,918.578.89
I
Total
.•.......:
..:.L..
27,502,801.06
i •
In addition, minor coinage metal was received of the weight of 374,981
pounds.
I
The number of a^ssays made in the assayer's departiiient of the mint
was considerably m excess of the previous year, having been approximately:^
I
Gold
Silver
,
i
J
:
16,000
45,000
The amount of gold operated on by the melter and refiner during the
year was'^765,876 standard ounces, with a wastage of 171.416 standard
ounces.
|
The silver operated on by the same officer was 43,334,421 standard
ounces^ with an apparent surplu§ pf 260.04 standard ounces.
f
144
REPORT ON THE FINANCES,
The number of melts made in'the same department and the number
condemned were as follows:
MELTfi OF
GOLD AXD
S I L V E R,
1889.
For ingotsi
Metals.
Eor bars.
Made.
Gold
Silver...i
Total
""
.
:
350
740
"'"
1,090
Condemned.
/
1
115
32
13, 250
13, 282
116
The operations of the refinery are exhibited in the following table:
Bullion.
Sent to refinery:
Gross weight
Standard ounces by assay
Returned from refinery
,
Gold.
Silver.
Ounces.
Ounces.
902,906
252,931
661, 795
252, 687
606,402
In addition to the precious metals, minor coinage metal, both purchased and for recoinage, passed through this departmeiit during the
year to the amount of 401,340 pounds, or more than 200 tons.
The operations of the coining department comprised gold, silver, and
minor coinage metal amounting to:.Gold, 267,320 standard ounces;
silver, 39,613,985 standard ounces; and minor coinage metal, 5,697,313
standard ounces; the total weight being about 1,562^^ tons.
The number of coins struck was 77,544,801, of the value of $24,853,62 i.21, an average coinage of nearly 6,500,000 pieces per month.
The gold wastage of the coiner ^for the year was 16.837 standard
ounces and of silver 3,651.53 standard ounces.
' The proportion of good coin produced from ingots operated upon was:
Gold, 42.6 per cent.; silver, 48.1 per cent.
. ,
During the last fiscal year there have been material improvements in
the way of additional accommodations for, the storage of coin at the
mint at Philadelphia. The last of the small brick vaults in the basement for the use of the cashier was lined with steel and furnished with
modern doors and improved locks. There was constructed beneath the
central court-yard of the mint a steel-lined, burglar proof vault with a
storage capacity of 85,000,000 silver dollars. There was also constructed
a large steel vault in the central area of the mint on a level with the main
floor of the building, said to be the only one of its style in the United
States, divided into compartments for the daily use of the melter and
refiner, the coiner, and the superintendent, for the immediate safe-keeping of the large silver bars received on purchases.
Perspective views of the proposed additions to the mint building were
prepared during 1888, showing an attic stage built over the present
structure, forming a new third story to the building, and on an estimate of the cost, an appropriation of $220,000 for the work was made.
Of the amount appropriated, $41,411 has been expended to date in
the construction of new vaults, reducing the avaU.a^ble balance for building purposes to $178,589.
145
DIRECTOR OF T H E MINT.
Further plans and drawings have since been prepared, showing ^an
extension of the floor area of the building, by extendihg the building
front to the line of the portico, thus acquiring additional space and
permitting the re-arrangement of the offices and work-rooms of the
building.
.
'
It is estimated by the Supervising Architect that the cost of the extensions contemplated by the last plans will approximate $420,000, and
it is recommended that the appropriation already made be increased to
the sum of $420,000.
The value of the foreign coins deposited at the mint at Philadelphia
during the year is exhibited in the following table:
VALUE OF F O R E I G N COINS DEPOSITED AT T H E M I N T AT P H I L A D E L P H I A , FISCAL
YEAR 1889.
'
Countries of "coinage.
Gold coin.
Great Britain
France ..'-.
-.
Mexico
'.
Spain
Germany
Austria
United States of Colombia
Unknown
Silver coin.
$1, 224.61
6.00
19.35
5.00
75; 90
5.00
32. 20
457.12
Total
Total.
1137. 75
ij 188. 00
$1, 224. 61
6.00
2, 410. 08
5.00
75.90
5.00
169. 95
1. 645.12
31 716. 48
5, 541. 66
$2i 390. 73
1, 825.18
The expenditures for the difierent classes of supplies [for the mint at
Philadelphia during the fiscal year were as follows:
i
E X P E N D I T U R E S AT T H E M I N T AT P H I L A D E L P H I A ,
General department.
Supplies, etc. ^
Proper.
Acids
Belting
Charcoal
-Chemicals
Coal
^
Conner
......... .... .
Crucibles, covers, stirrers,
and dippers
Drv fifoods ----.Fluxes
Freight and drayage
Gas and electric lighting ..
Gloves and gauntlets .i
Hardware
Ice
Iron and s t e e l . . . . . . . . . . . . . .
Labor and repairs
Loss on sale of sweeps
•
Lumber. . . . i .
Machinery and appliances.
Assayer's Coiner's
departdepartMechanment.
ment.
ical.
$248.29
$717. 03
23.14
6.28
6,284.60
1,187.46
10.33
4.935. 95
727.24
299.14
506. 89
11.57
524.10
1,214.45
• 205. 28
S8^02
$21.84
1.13
27. 50
130.07
218. 72
8.20
59.80
8.65
1889.
Melter a'nd refiner's
department.
Enjrraver's de- :
1
partmeut.
Proper: Ee finery.
1
$780. 07 $4,035.79
$12.92
18.72
964. 83
1, 623.37
85. 38
2, 344. 65
20, 942. 53
/
27. 31
. '.
• j
208.46
2,470. 55
103.48
23. 37
$92.61
4.02
35.31
339. 09
.60
i
22.72
39. 60
44.43
.68
232.14
3, 570.24
176.74
235. 00
509.99
113.38
-,..-,
2,205.51
76.19
101. 61
30.34
284. f75
1
4i: 22
19.80
57.80
2 22
165 98
612. 47
.40
..........
146
.KEPORT
OK T H E FINANCES.
E X P E N D I T U R E S AT THE M I N T AT PHILADELPI-IIA, 1889—Continued.
General department.
Assayer's
department.
Mechanical.
Supplies, e t c .
Proper.
Metal-work aud c a s t i n g s . . .
Oils
*
Salt
•
Stationery, printing, a n d
bindin""
S t e a m - p o w e r xjlaut
Sundries
Telegraphing
Washing
Water
Wood
Ziiic
:...
$576.62
690.48
462.08
116.60
3. 768. OS
36.18
113. 27
548. 00
$344. 32
58.02
32.31
Coiner's
deijartment.
M e l t e r an d refiner's
department. ^
Ejigrave r ' s de>
p
P r o p e r . Refinery. a r t m e n t .
$0.53 $1, 212. 56
204. 37
.16
.71
31. 5(1.
$583. 99
219.07
25. 62
13.00
516.13
423. 78
437.75
$9. 94
.44
$110.80
104.96
17.03
4, 594. 87
-
1,150. 73
660.53
. . .
1,006.26
AVastage
809. 49
1, 128. 08 12, 395. 33 32, 372. 66
23,434. 51
; . . 106, 055. 50 12, 233. 25
5, 000. 00 5, 000. 00
5,000.00
8,797.89 238,155. 64 60, 575. 90
Total
24, 089. 65
Salaries
W a g e s of w o r k m e n
Ap'ffresiate......
7, .135. 39
293 30
4,120.94
3, 000. 00
7, 249. 01
153, 579. 66 13, 042. 74 14, 925. 97 255, 550. 97 97, 948. 56 11, 256. 33 10 542 31
SUMMARY.
Supplies, e t c .
Amount.
$5, 064.15
729.95
1, 779. 68
1,191.71
8, 902. 78
20, 942. 53
2, 530. 35
1, 552.16
Acids
Belting
Charcoal
Chemicals
Coal.
;
Copper
C r u c i b l e s , covers, s t i r r e r s , a n d d i p p e r s
D r y Goods.
Fluxes
F r e i g h t and drayage
G a s a n d electric l i g h t i n g
Gloves a n d g a u n t l e t s
Hardware...
Ice......
I r o n a n d st^el
Labor and repairs
L o s s on sale of s w e e p s
Lumber
o...
.,
,
363. 06
10.33
4, 935. 95
6, 583. 51
593. 89
608.50
488.00
1, 318. 84
1, 826. 92
652. 48
S u p p l i e s , etc.
M a c h i n e r y tand a p p l i a n c e s
,
Metal-work and castings
,
Oils
,
,
Salt
Stationery, printing, and binding
Steam-power plant
Sundries
Telegraphing
Washing
Water
Wood
Zinc
Wastage
,
Total
Salaries
W a g e s of w o r k m e n
Aggregate
Amount.
$77.82
2, 727. 96
1,172. 54
143. 01
500.70
116. 60
5; 300. 64
36.18
113.^27
548. 00
4, 594. 87
1,150. 73
1, 666. 79
78, 223. 90
41,434.51
437,188.13
556, 846. 54
At the close of the fiscal year the bullion and coi n in the possession
of the superintendent were weighed under the supervision of Mr. J.^W.
Corsa,,of the United States assay office at New York, who reported
that„he found on hand all the public money with which the superintendent was charged.
,
Daniel M. Fox, the superintendent, was succeeded on the 1st instant,
by Presidential appointment^ by Mro Oo 0 . Bosbyshell, formerly coiner
of the mint at Philadelphia.
147
DIRECTOR OF T H E MINTM I N T A T SAN
FRANCISCO.
The deposits at the mint at San Francisco during the fiscal year 1889
were as follows:
^
Metal.
standard ounces.
Gold.
1,172, 224. 804
Silver
' -- -
620, 923. 96
Total
. Value.
$21, 808, 833. 56
722, 529. 68
22, 531, 363.24
i
The^ melter and refiner received during the year bullion containing
2,342,326 standard ounces of gokL
i
'
That officer made 781 melts of gold ingots, of which 4 were condemned.
He returned to the superentendent in settlement at the close of the year
an excess of 461 standard ounces of gold.
|
The same officer received from the superintendent bullion containing
1,156,035 standard ounces of silver. He made 319 melrs of silver ingots, all of them being approved.
!
He had a wastage of 161.32 standard ounces of silver,' being a little
over 9 per cent, of the legal allowance for wastage.
The number of melts of ingots made and condemned at the mint at '
San Francisco from 1874 to 1888 is exhibited in the folloWing table :
MELTS OF INGOTS MADE AND CONDEMNED AT THE MINT, AT SAN JFKANCISCO FROM
1874-TO 1889.
j
Gold i n g o t m e l t s .
Fiscal
• ' •
!
Silyer ingot melts.
i
year.
Made.
Condemned.
Made.
Condemned.
! .
1874 .
1875
>
1876
8)3
5
2,648
925
13
1 4, 378
15
942
6
1 9, 454
11
10
3
13, 210
8
1878
1,393
19
13, 610
14
1879
981
4
12, 789
14
1880
931
3
8,104
14
1881
1, 033
8
12,617
38
1882
958
8
i0,719
20
1883:
901
5
17, 509
1884
767
4
5,539
12
1
677
1
2, 619
1877
•
1,141
1885
1886
935
i
958
2
1888'...
890
3
1889
777
4
11,086
-12, 821
1 319
88
107, 422
1887
•
.
Total
CoDclenin6d
15, 022
,
DBP C6iit
-
-
..
.005j%
1
i
4
161
.001^
The coiner of the mint received from the superintendent 2,408,755
standard ounces of gold.
-^^
\
There were coined in his department and delivered t;o the superintendent, in double-eagles, $17,447,000; in eagles, $5,9p.7,000, and in
half-eagles, $4,500; atotal of 1,463,950 pieces, of the value of $23,358,500.
The proportion of good coin produced from gold ingots Operated upon
was 52.1 per cento
i
.
148
R E P O R T ON T H E FINANCES.
The coiner wasted in his operations 73.942 standard ounces of gold,
being about 6 per cent, of the legal allowance.
The same officer operated upon 571,075 standard ouncesof silver,
manufacturing $108,000 in silver dollars, $112,000 in quarter-dollars,
and $155,455.40 in dimes; a total of 2,110,554 pieces, of the face value
of $375,455.40.
The proportion of good silver coin produced from ingots operated
upon was 54 per cent.
The coiner's silver wastage was 137.94 standard ounces, about 24 per
cent, of his legal allowance.
The operations of the coining departmen t of the mint at San Francisco
for a series of years are exhibited in the following table:
OPERATIONS I N T H E COINER^S DEPARTMENT OP THE M I N T AT SAN FRANCISCO F O R
THE S E V E N YEARS E N D E D J U N E 30, 1889.
Fiscal years.
^
Coinage.
Percent, of
good coin Actual waste.
produced.
GOLD.
1882-'83
1883-'84
1884-'85
1885-'86
1886-'87
1887-'88
1888-'89
$26, 760, 000. 00
23,543,500.00
20, 857, 500. 00
27,0,80, 000.00
22, 360, 000.00
22, 810, 000. 00
23,358,500.00
*•
Total
'
54.7
54.3
54.7
52.0
47.5
47.2
52.1
Standard ozs. Standard ozs.
134.715
120.300
70.337
47. 018
19.540
64. 248
73. 942
510.560
166, 769, 500.00
Gain.
19.540
SILVER.
1882-'83
1883-'84
1884-'85
1885-'86
1886-'87
1887-'88
1888-'89
'.
...
Tofcal
5L5
52. 5
53.3
52.8
53.9
47. 8
54.0
7, 350,000. 00
4,850,-000.00
2, 908, 799.70
49, 066.20
855,812. 60
2, 891, 284. 80
375,455.40
;
.
638.76
618; 13
' 192.00
.58
140.80
851. 91
137. 94
•
«Sr.,
2, 580.12
19, 280,418.70
The following table exhibits the denominations and value of the uncurrent United States gold coins deposited at San Francisco during the
fiscal year.
UNCURRENT U N I T E D STATES GOLD COINS R E C E I V E D AT T H E M I N T AT S A N F R A N C I S C O DURING THE FiSCAL Y E A R 1889.
No. of
pieces.
Denominations.
Double-eagles
Eagles..,
Half-eagles
Three dollars
Quarter-eagles
Total
'
-
---
^ <-
Value.
16
26
65
6
11
$320. 00
260.00
325.00
18.00
27.50
124
950.50
The value and classification of the foreign gold coin deposited at the
mint at San Francisco during the fiscal year is exhibited in the follow- ^
ing table:
149
DIRECTOR OF THE MINT.
F O R E I G N GTOLD COINS D E P O S I T E D AND M E L T E D AT T H E M I N T AT SAN F R A N C I S C O .
DURING T H E FISCAL YEAR 1889.
Countries of coinage.
Value.
$3,198, 833.67
84,640.50
23,441.49
2,35L35
1,035.57
121.75
England (sovereign)
Mexico
Mixed foreign coins
;.
Costa. Eica
Spain
United States of Colombia .
3, 310,424.33
Total.
The expenditures at the mint at San Francisco during the year for
different blasses of supplies 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, 1889.
General department.
Supplies, etc.
Proper.
Acids
.Assayer's m a t e r i a l s . . . . . . .
Belting
Charcoal
'ix^. _.
$281.88
Chemicals
7,161. 73
Coal
77. 29
Coke
. . . .."
Conner . . . . . . . . . .
.....
Crucibles, covers, stirrers,
and dippers . . . . . . . . . .
358.97,
Drv ffoods . .
...........
691. 54
Fi%ight and drayage
' 2, 008. 60
Gas
113.50
Gloves and gauntlets
228. 38
TTardwaTfe
-r-- -443. 99
Ice . . . . . . . . . . . . . . . . . . . . . . .
Iron and steel
liflibor and repairs
1, 414.74
liUmber.................... .
Machinery and appliances...
144. 27
Metal work and castings
42.75
Oils.
:
Salt...'
Sewing
-.
377. 20
Stationery, printing, a n d
binding
' 875.36
/ 339.92
Sundries
197.92
r Telegraphing.
"Washing....
632. 01
400.00
Water
172.11
"Wood
'.
Tools
•
Total
Salaries
Wages of workmen
Aggregate....
15,962.16
24,500.00
52,648.25
93,110. 41
Mechan-.
ical.
Assayer's
department.
$374.92
200.81
Coiner's
department.
~ $57.75
72.92
t
j Proper.
1
Refinery.
$9, 968.67
•
'
$273. 36
125. 00
1,467.40
•Melter and refiners'
1
department.
, $954.63
368. 37 j i,82L67
244.11
171.07
1, 447.10
1 1,362.68
j 3,560.00
8.25
13.37
1,187.19
416.18
218 76
112.50
18.75
298.78
53 81
85.77 1
26.08
327.95 1
528.49
33.92
1 459.97
929.17 t ' 294.65
59.80 j
70.38
63.03
3, 245. 51
386 14
2,996. 50
503.19
67.50
318.52
45.90
.1
15.35
8.95
74.13
866.36
46.52
46.48
18. 74
76.10
8.95
262.25
786.50 1
2.50 1
1
8.83
1 '
j 1,679.25
t
1-
53.72
12. 50
24.10 1
253.00
126.82
j
399.58
239.02
184.99
1,163.14
IlL 31
I
258 15
4.28.
20, 367. 6G
17,130.50
4, 008. 68 1 12, 749.70
1, 012.97
6, 600. 00 . 5,000.00 1 5,000.00
20,458. 50 63, 980.09 22, 341.00
20, 963. 53
28,071.47
72, 988.77 I 40,090.70
51,124.91
3,1833. 03
30, 757.25
150
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 SAN FRANCISCO, 1889—Continued.
SUMMARY.
Supplies, etc.
Amount.
Acids
$10,401. 34
Assayer's materials
200.81
Belting
273:36
Charcoal
1,198.74
Chemicals
2, 840.91
Coal...
10, 076. 23
Coke
1,439. 97
Copper
3, 560.00
Crucibles, covers, stirrers, and dippers
1,195. 44
Dry goods
1, 053,18
Freight and drayage
691. 54
2, 008.60
Gas
1, 3U. 28
Gloves and gauntlets
327.74
Hardware.
443. 99
Ice
257.96
Iron and steel
6, 645. 30
Labor and repairs
466. 58
Lumber
Supplies, etc.
Amount.
Machinery aud appliances
Metal work and castings
Oils.......
Salt....
Sewing
Stationery, printing, and binding..,
Sundries
Telegraphing
Washing...
Water
Wood
Tools..
Total.
Salaries
Wages of workmen
Aggregate
;, 502. 95
., 898. 85
316. 53
318.52
1, 056. 45
887. 86
797. 56
197. 92
632. 01
799. 58
,832.42
300.58 .
57, 934. 20
41,100.00
207, 315.59
.'
!...
i. 306, 349. 79
Henry H. Lawrence^ for many years assistant assayer of the mint at
San Francisco, was appointed by the President assayer of the mint,
vice John W. Twiggs, and entered on duty July 16,1889.
The superintendent of the mint at San Fraocisco, Israel Lawton,
was succeeded, by appointmeut of the President, by W. H. Dimond on
August 1,1889.
At that time the bullion and coin in the mint was weighed^ this Bureau being represented by Mr. F. P, Gross.
The gold coin in the mint was found to be in good condition; \kit
some of the silver dollars which had been in circulation and were received, by transfer from the assistant treasurer at San Francisco,
amounting in all to $2,304,000, upon careful examination were found to
contain 34 counterfeit pieces, 104 mutilated pieces, 73 trade-dollars, and
13 foreign coins, a total of 224 pieces, which sum, less 2 surplus silver
dollars found, was made good by the outgoing superintendent.
M I N T A T N E W ORLEANS.
The deposits at the mint at Kew Orleans during the fiscal year contained precious metals as follows i
'
•
Metal.
Standard ounces.
Gold
Silver
6,525.987
10,081,943.03
Total
^
Value.
$121, 413. 71
11, 731, 715. 49
11,853,129. 20
The work of the assay department of the mint consisted of 24,942
silver assays and 708 gold assays, a total of 25,650 assays.
The melter and refiner operated upon 39,707 standard ounces of gold
and made 7 melts of gold ingots, all of which were approved. He delivered to the superintendent in settlement a surplus of 21.706 standard
151
DIRECTOR OF T H E MINT.
ounces of gqldo The same officer operated upon 21,452,844 standard
ounces of silver. He made 2,516 melts of silver ingots, of which 11
were condemned. He had a wastage of gilver amounting to 2,392
ounces, or about 7 per cento of his legal allowance.
'
The reduction in the silver wastage of the melter a i d refiner shows
a marked improvement over the work of the same department for the
preceding year, ;
\
The coiner operated upon 8,216 standard ounces of gold, and manufactured eagles of the value of $78,350o The percenta^ge of good coin
produced from ingots,operated upon was 51.25. He hjid a wastage of
gold of 1.313 ounces, or about 32 per cent, of his legal allowance. The
same officer operated upon 20,888,366 standard ounces| of silver ingots
and manufactured 12,300,000 silver dollars, being 50.6 per cent, of good
coin produced. He had a wastage of 7,016o67 standard jounces, or about
33J per cent of his legal allowance.
!
While the wastage of the coiner was only about one-third of the legal
allowance, it is greater than the wastage of this department for several
prior years, and is attributed largely to the great number of pieces condemned as without the legal limit of tolerance, owing to imperfect machinery.
'
I
At the close of the fiscal year the bullion and coin jin the mint was
weighed by Messrs. George Eo Comings and O. Warner, jr., of the
^ e w York assay office, who reported that they found iii tbe mint all the
bullion and coin with which the superintendent was charged.
The denominations and value of the uncurrent United States gold
and silver coin deposited at the mint at Xew^Orleans during the year,
with the loss on the same, are exhibited in the following table:
UNCURRENT U N I T E D STATES GOLD COINS DEPOSITED AT T H E MINT AT N E W O R L E A N S DURING THE FISCAL YEAR 1889.
i
,
Face value.
Denomination.
Double-eagles...
Eagles
Half-eagles .
, Three-dollars ...
Quarter-eagles...
Gold dollars
Net value.
Loss.
$11,040. 00
6,260.00
20,960.00
42. 00
2,170.00
53.00
Total
46, 525. 00
$15, 964. 74
$560.26
UNCURRENT U N I T E D STATES SILVER COINS PURCHASED AT TJHE M I N T AT N E W
'
ORLEANS DURING T H E FISCAL YEAR 1889. i
t
Denomination.
Dollars
Half-dollars
Ouarter-dollars
.
Twentv-cent nieces
Dimes
Half-dimes
Three-cent prices
Total
/
-,
•
t
Face value. Amount paid.
$246.00
836.00
460. 20
2. 60
223.25
57.05
.15
1,825.25
Loss.
1
1
}
1
i
;
! $1,202.28
$622.97
152
R E P O R T ON T H E FINANCES.
^ The value and classification of the foreign coins deposited at the mint
at New Orleans during the year is exhibited in the following table:
XALUE OF 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 N E W ORLEANS DURING
THE FISCAL YEAR 1889.
Countries.
Gold coins.
CentralA.merica . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
South America
Mexico
^ - - - -- Spain
Gruatemala
.
. .
. . . . . . . .
Mixed foreign. .^^. -' •
-
• *
Total
:
Silver coins.
$576.03
$401.15
260. 8T
281,629.43
4,031. 99
4,656.52
.1,080.31
5, 003.90
2, 530.51
284,821.96
15, 347.75
•
The expenditures of the mint at New Orleans for the different classes
of supplies 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 .A.T N E W O R L E A N S ,
General department.
Supplies, etc.
Proper.
Mechanical.
' •
Acids
Assayer's
department.
$81.62
16L93
Comer's
department.
1889.
Melter and refiner's
department.
Proper.
$6.47
$196.95
$235.11
Belting
Charcoal
Coal
Coke
..
..
Conner
Crucihles, covers, stirrers, and
dinners
Drv ffooda
Freiffht and dravat^e
Gas
Gloves and srauntlets
Hardware
Ice
Iron and ateel
Lahor and repairs
Loss on sale of SAveens
Lumher
Oils
--.
..°...\
Sewing
Stationery, printing, and binding
Water.
Wood
2, 045. 08
9,250.00
,
$275.79 .
188.75
2.780.91
511.19
. 540.00
1,357. 37
16.75
381. 85
171.50
279.63
47.96
716. 61
85.00
1, 309. 50
5.17
550. 00
40.80
i; 069. 81
83.50
1, 050. 00
525.00'
653.23
36.90
465.16
1, 047.10
97.21
152.10
. 301. 00
734.18
' 169.96
371.78
35L10
193.10
41.17
2,234.48
,
615.54
169.14
168.00
2.50
269.48
27.00
1, 250.00
11.77
67, 028.54
1, 791.69
187. 50
229.87
7, 851. 08 8, 951.80
.17,093.45
42, 084. 01
^
$890.00.
20.00
4, 6C5. 70
.-
Total
Salaries
Aggregate .
Refinery.
8,951.80
3,232.37
8.00
27.00
28.82
501.18
6, 000.00
3, 935.90
10,108.19
4, 400.00
69,679.79
16,452.11
4,400. 00
22, 057.92
482. 64
10,437.08
84,187. 98
42, 910.03
. 482.64
DIRECTOR OF THE MINT.
153
EXPENDITURES AT THE MINT AT NEW ORLEANS, 1889-rCoiitinued.
SITMMARY. •
Supplies, etc.
Supplies, [etc.;
Amount.
AcidsAssayer's materials
Belting
Charcoal
Chemicals
i
Coal
:.
..'.
Coke.:
Copper
Crucibles, covers, stirrers, and dippers
Dry goods
Freight and drayage
..
Gas
...'.
Gloves and gauntlets...
Hardware
Ice
.Iron and steel
Labor and repairs
Loss on sale of sweeps.
$285.04
161.93
235. II
890.00
20.00
4,605.70
2, 045.08
9, 250.00
1, 791. 69
1,227.86
188.75
2, 780.91
4, 309. 50
516.36
1,476.00
212.30
3,524 39
246.62
Amount.
Lumber
J
Machinery and. appliances
Metal-work and castings J.
Oils
I
Sewing
'
Stationery, printing, andj binding . . . .
Sundries•
Telegraphing
Washing
,
L
Water
Wood
'•.
Zinc,
L
Total
Salaries...
Wages of workmen
Aggregate.
I-.
L
L.
I
$381.85
1,421.78
1,140. 54
1,173.47
398.00
467.66
3, 762.19
97.21
179.10
1,250. 00
3, 279.14
28.82
44, 347.00
31,893.45
137, 757.62
213, 998.07
. Dr. Andrew W. Smyth, who was superintendent of the mint at Kew
Orleans from August 8, 1882, to July 15,1885, took charge of the mint
on the 1st instant, having been appointed by the President superintendentj vice Gabriel Montegut, resigned.
i
MINT A T CARSON.
The business of the mint at Carson during the fiscal year was confined to that of an assay office, namely, the receipt of gold deposits for
payment in coin or bars and the receipt of silver deposits for payment
in bars.
j
The weight and value of the gold and silver contained in deposits at
the mint at Carson during the year was as follows: !
Metals.
Gold
Silver
Standard ounces.
i
.-. '.
53,785.1406
868, 447.131
1
Total
1
Value.
$1, 000, 658. 71
1, 010, 556. 86
2, Oil,'215.^57
The melter and refiner's department operated during the year upon
71,134 ouDces of gold, with a surplus of 121.417 standard ounces, and
945,863 ounces of silver, with a surplus of 1,034.02 ounces.
154
REPORT ON T H E FINANCES.
The expenditures of the mint at Carson during the year are exhibited
in the following table:
EXPENDITURES
AT T H E M I N T AT CARSON F O R T H E FISCAL YEAR
General department.
Expenditures for supplies.
Proper.
/
Mechanical.
$55.83
$13. .65
i-
binding
Sundries
Teleeranhine
Washing
Water.
Wood
1
.
i
144.52
266.56
45.12
... ..
223.00
600.00
1,207. 50
Total
Proper.
Crucibles, covers, stirrers,
and dippers
Dry goods . .
1, 056. 64
4p3.05
920.13
Freight and dravace....'
475.80
Gas
102. 75
Gloves and gauntlets
557. 70
Eardw are . .
..
....
80.78
Ice
37.00
Labor and repairs
160. 93
Lumber
Machinery and appliances...
Metal work and castings
396.78
Oils
Salt
stationery, printing, and
Melter and refiner's
department.
Refinery.
$9,016. 57
$90.72
3, 462. 46
57.95
155.70
Acids
Charcoal
Chemicals
Coal
Copper
Coiner's
Assaye r ' s de- d e p a r t partment. ment.
1889.
20.15
5, 907. 28
5, 907. 28
30.00
1, 086. 64
88. 78
491.83
1, 261.29
475.80
144. 75
979.62
80. 78
538. 00
253.21
10.75
594. 08
55.50
92.95
341.16
42.00
•
$9,107.29
3,462.46
147. 58
155. 70
421. 92
501. 00
92.28
16.75
197.30
55.50
92.95
559.14
•
144.52
825. 70
45.12
223. 00
600. 00
Ziuc-.i
752.07 •
1,207. 50
752. 07
t
Total
Salaries
W a g e s of w o r k m e n
Aggregate
10, 445. 09
12,450.00
21,735.18
13.65
2, 500. 00
4,847.50
55.83 18,134. 85
4,500.00
5,036.94 5, 267. 50
28, 649.42
19, 450. 00
36, 887.12
1 . . 44,630.27
7,361.15
9, 592.77 23,402. 35
84, 986". 54
Since the commencement of the present fiscal year the mint at Carson ^las been re-opened for coinage and is now in full operation.
Samuel C. Wright was appointed by the President suj)erintendent,
vice William Garrard, and took charge July 1, 1839.
P. B. Ellis was appointed by the President assayer, vice Joseph E.
Eyan, July 1,1889.
E. B. Zabriskie was appointed by the President melter and refiner,
July 12, 1889, vice John H. Dennis.
Charles H. Colburn' was appointed by the President coiner, July 1,
1889.
155
DIRECTOR OF THE MINT.
ASSAY O F F I C E AT N E W Y O R K .
The work of the United States assay office at New York during- the
last fiscal year is exhibited in the following table i
\ \
OPERATIONS AT T H E U N I T E D STATES ASSAY O F F I C E AT NEW! YORK DURING T H E
F I S C A L YEAR 1889.
'
Gold.
Standard
ounces.
Bullion deposited
Partings
Total
-
»•-- •
.
..
Bars prepared by melter and refiner:
Fine
Mint
Sterling
Standard
:.
Unparted
Total
.
i
1
Value.
Silver.
Standard
ounces.
Cost value.
879, 068.377
77, 568.594
$16,365, 923. 27
1, 443,136.61
4,166,'044.17
109, 043. 73
$4,166,044.17
92,941.62
957, 236.971
17,809,059.88
4, 275, 087. 90
4,258, 985.79
1
867, 299. 381
92, 886.300
5, 648.114
16,135, 802. 38
' 1,728,117.22
105,081.19
. 4,080,787.88
108,643.63
1
45.476
846. 07
8f), 439. 50
! 322.44
965, 879.271
17, 969, 846.86
4, 220,193.45
Character.
4, 080,787.88
92,293.27
Gold.
.
30, 439. 50
322.44
4,203, 843.09
Silver.
1
Charges collected:
For melting
!...•
For manulacturin "• bars
For toughening, parting, and refir insT
For alloy
.........
Total
Payments to depositors:
Bars
Coin
Total
=... o
i
;......
-
]
$7,782. 73
1,114.77
36,582.70
1 934.26
$3, 111. 28
2,394.27
. 5,581.39
4^, 414.46
11,086.94
6, 67;8,190.03
11, 084, 455. 39
4,154, 957. 23
92,941.62
if; 7^2,645.42
i
4,247, 898.85
The work of the assay department of this institatibn eomprised the
testiug of some 10,000 melts of gold arid silver, bebides many other
melts of refined metal, and the testing of some 400 barrels of sweeps,
and many hundreds of special assaySo
. |In addition to the regular work of this department connected with its
own institution, owing to the suspension of work in th^ laboratory of the
Bureau of the Mint, the coins reserved for monthly test'at the mints at San
Francisco, Philadelphia, and I^ew Orleans, since September, 1888, have
been tested in this departmento Some 400 coins weife tested, and the
assayer reported that ^°the fineness of each of the coibs was well within.
the legal liipitj and the results seemed to show almost absolute perfection in the fineness of the coins assayedo^^
.
j
156
REPORT ON THE FINANCES.
The averages of the coins tested are presented in the following table:
Mints.!
Silver.
Philadelphia..
San Francisco
New Orleans..
899.9
899.9
900.1
In the melting and refining department there were refined by acid
2,232,101 gross ounces. There were prepared and delivered to the
superintendent 18,234 bars of gold and 25,993 bars of silver, a total of
44,227 bars. One million one hundred and four thousand two hundred
and fifty-five pounds of sulphuric acid were used in the parting operations and 1,592,545 pounds of spent acid and 129,913 pounds of blue
vitriol were sold during the year, realizing $9,015.03. Old lead and
iron were also sold, realizing $191.59. Sixty-one thousand ounces of
silver from the acid refinery were used over in parting gold deposits.
The milter and refiner operated during the year on 970,792 standard
ounces of gold and returned a surplus of 416.394 standard ounces.
The same officer operated on 4,294,094 standard ounces of silver and
returned an excess of 5,021.30 standard ounces.
A t the close of the fiscal year the bullion and coin in the possession
of the superintendent were weighed by Messrs. H. Clay Sfier and
Thomas Eobinson, of the Treasury Department, and the superintendent
was found to have in his possession all the moneys with which he was
charged.
The following table exhibits the denominations and value of the uncurrent gold coins of the United States deposited and melted at the assay
office at New York during the fiscal year.
APPROXIMATE STATEMENT, B Y DENOMINATIONS, O F UNCURRENT U N I T E D STATES
GOLD COINS D E P O S I T E D AT THE U N I T E D STATES ASSAY O F F I C E AT N E W YORK
DURIN& THE F I S C A L Y E A R 1889.
Denominations.
Double-eagles
Eagles
Half-eagles . . - . .
Throe-dollars
Quarter-eagles
Gold dollars
.
. . . — ................ . . .^.......
....—--
Total
Value.
-.
"
$112,590
125,100
145 950
417
32,734
209
417,000
The value and classification of the foreign gold coins deposited and
melted at the assay office at New York are exhibited in the following
table:
157
DIEECTOB OF THE MINT.
V A L U E O F FOREIGIJ COINS D E P O S I T E D AT T H E ASSAY O F F I C E AT N E W , YORK
THE F I S C A L Y E A R 1889.
;
Countries of coinage.
Central America ..
Costa E i c a . . . . . —
England
Germany
Mexico
Do
Do
.V
Do
\
Peru.... —
South America —
Spain...
'
Do
Do
Venezuela
Do
Various countries..
Denominations of
coins.
Mixed
....do
Sovereigns ..
20 marks
20 pesos
10 pesos
.
i doubloons..
Mixed
20 soles
:
Mixed.......
Doubloons..
25 pesetas—
Mixed
100 bolivars.,
Mixed
...do
,
Total of each denomination of
gold coin, by countries.
DURING
Silver
parted
(standard
ounces).
$546.40
5,459. 26
27. 320. 42
39,113.79
6,
2,
114,
184,542.43
1, 538. 34
18,345.81
543,
16,
84,
31,
21,
Total.
$2.33
20.02
11.32
52.74
'
18.31
2,442. 79
52, 966.18
I 142,852.04
202. 78
99.31
68. U
82. 61
1,117,659. 06
3,001.05
644, 974.39
The expenditures of the assay office at ISTew York ifor the different
classes of supplies are exhibited in the following table:
'
EXPENDITURES AT THE ASSAY O F F I C E AT N E W YORK FOR T H E FISCAL YEAR
Supplies, etc.
General
department.
Assayer's
department.
Melter and refiner's
department.
Total.
Proper.'
Acids
Assayers' materials
Belting
Charcoal
.Coal
Copper
Crucibles, covers, stirrers, and dippers .
Dry goods
Freight and drayage
Gas
.
Gloves and gauntlets
Hardware
Ice
Lead (sheet and pipe) . . , - . .
Labor and repairs
Lumber
Machinery and appliances.
Metal-work and castings . .
Oils and lard
.'
Salt
!
Sewing
$316.80
305. 59
Refinery.
$11,594.68
$15.53
812.00
10.78
463.71
956.40
2L25
35.65
5.43
589.12
280. 80
627. 52
209. 00
779. 99
1889.
862. 73
187. 80
47.24
20.11
72.27
30.24
1, 710. 88
69.35
59.79
18.25
64.84
73.60
25.95
33.92
124.43
719.92
397.95
33.10
570. 52
105. 76
2.60
156.27
$11, 911.48
305.59
15. 53
812.00
1,474.49
5,956.40
1, 302.05
663.17
214.43
2, 231. 84
187. 80
97.59
72.27
397.95
1,810.43'
102.45
813. 63
713.20
170. 60
2.60
156.27
158
REPORT
ON T H E
FINANCES.
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 YORK F O R T H E FISCAL YEAR 1889—
Continued.
Assayer's
General
departdepartment.
ment.
Supplies, etc.
$212. 08
627.37
22. 72
77.80
Stationery printing, and binding
Sundries
.
-.
......
Telejrranhirsr
"Water
"Wood
Zinc ^snelter)
. . . ..
Adjustina weights
Advertising for sunnlies
.
Barrels lard tierces and cooperage.. . . .
Fire-brick
Gas-meltinff furnace
Steam
Fluxes
i
Total
Salaries .... . . . . . . . . . . . . . . . .
"Wages of workmen
.
AfiTffresrate. . . . . . . . . . . . . . . . . . . . . . . . .
Melter and refiner's department.
Total.
Proper.
$338.31
Eefinery.
$243.70
• 147.70
160.00
44.10
80.00
69.60
. .
•
798.55
50.00
.,
125.00
1,178.71
4,769.88
2,171.17
$212.08
1, 209. 38
22 72
225 50
160 00
44 10
80 00
69 60
798 55
50 00
125 00
5 948 59
2,17L 17
4, 929. 50
22, 550. 00
11,129.00
2,162.51
11,200. 00 $5, 500:00
12, 569.00
40, 528.46
^ 39,250.00
43,186. 49
66 884 49
38,608.50
.25,93L51
76,622.94
5, 500.00
33, 436. 45
146, 662.95
THE MINT AT DENVER.
The business of the mint at Denver, conducted as an assay office, for
the fiscal year 1889 is-exhibited in the following table:
M I N T AT D E N V E R , 1889.
Items.
Deposits
Earnings
Expenses.... 1
=
Amount.
$1,335,188.79
5, 548.68
26,288.17
Percentage of net expenses to deposits, 1.5.
Some improvements have been made in the mint at Denver, in the
wiay of heating and electric-bell connections and the substitution of combination locks of late patterns for old locks on the vaults. A wroughtiron fence 6 feet high, provided with a gate, has been placed around the
outside of the melting-room and wrought-iron grating placed in the
windows of the melting and engine rooms, for the better protection of
the melting department. Some additional apparatus has been added
to the assay department aud a set of test weights provided.
Improvements have been introduced in the melting-room in the manner of checking and recording the character of the. deposits, so as to
prevent any unusual loss of the precious metals.
159
DIRECTOR OF T H E MINT.
The expenditures for the different classes of supplies for the'mint at
Denver during the fiscal year 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 D E N V E R F O R T H E FISCAL YEAR
General department.
Supplies, etc.
Proper.
Acids
Assayer's materials.*.
....,=..
Coal
Coke
Crucibles, covers, stirrers, and dippers .
Dry goods
Fluxes.
Freight and drayage
Gas
Hardware
...-^
Ice
Iron and steel -.
Labor and repairs
Lumber
Machinery and appliances
Oils
Salt
Stationery, printing, and binding.
Sundries
Telegraphing
Washing
Water
Total
Salaries
"Wages of workmen.
Aggregate
Mechanical.
Melter and
refiner's
department
proper.
department.
$178.70
29.25
$20.50
$4.25
115.00
90.57
4?25
5.00
.75
77.40
6.10
• 28.50
140.10
8.87
8.60
70.00
$2.50
221.40
246.60
3.00
71.58
.28
3.25
50.00
243.00
4.04
LOO
20.17
LOO
50.00
20.00
826.88
8,640.40
5, 578. 50
356.05
743.97
15, 045.78
356.05
20. 75
331.70
16.26
28.60
35.00
247.80
3.50
1889.
Total.
$178.70
49.75
4.25
115. 00
90.57
4.25
75. 00
3.25
793. 20
6.10
28.50
3.00
261. 68
8.87
255.38
3.25
LOO
40. 92
336. 74
16.26
28.60
105. 00
4, 328. 00
482. 37
2. 250.00
3, 082. 00
2,409.27
10,890.40
12, 988. 50
.5, 07L 97
5, 814. 37
26, 288.17
The denominations and value of the uncurrent gold C(iins of the United
States deposited at the mint at Denver during the fiscal year, are exhibited in the following table:
I
UNCURRENT GOLD COINS DEPOSITED AT T H E M I N T AT D E N V E R (DURING T H E FISCAL
YEAR 1889.
.
'
]
:
'
Denominations.
[
Value.
i
Double-eagles
Eagles
Half-eagles -..
Qaarter-eagles
^...:
Total
i
i
-
\
$2,160.00
480 00
120.00
2.50
2, 762. 50
!
Michael E. Smith .was appointed by the President assayer in charge,
vice George 0. Munson resigned, and took charge of the institution
July 15, 1889/
i
160
REPORT ON T H E FINANCES.
ASSAY OFFICE AT HELENA, MONT.
The business of the assay office at Helena, Mont., for the fiscal year
1889 is exhibited in the following table : . ' • • .
ASSAY O F F I C E AT H E L E N A ,
1889.
Items.
Amount.
Deposits
•' Earnings
Expenses
Percentage of net expenses to deposits, 1.8.
$li 042,060.84
3,802.89
23,262.95
' The expenditures at this office for the different classes of supplies
were as follows:
'
E X P E N D I T U R E S AT T H E ASSAY O F F I C E AT H E L E N A F O R THE FISCAL YEAR
Supplies, etc.
Acids..
Assayer's materials. .>
Chemicals
Coal..
Crucibles, covers, stirrers, and dippers.
Dry goods
Freight and drayage
Gas
jG loves and gauntlets .
Hardware
Ice
Iron and steel
Machinery and appliances
Metal work and castings
Oils
Stationery, printing, and binding.
Sundries
•
Telegraphing
Washing
- —
Water
Wood.... 1
Zinc ..i
Assayer's
department.
Melter's
department.
196.
33.
220.
60.00
42.
19.
194.
1.
13.
300.
45.
137.
649.
31
• 4L
100.
128.
4.
459. 25
4.75
• 57.50
18.00
Total.
$6.00
196.61
33. 55
220.24
60. 00
42.03
19.47
654.00
6.25
39.58
38.04
943. 52
3L75
300.92
45.10
137.95
649. 24
31.74
4L00
100.00
128. 58
4.70
Total
Salaries.......^
Wages of workmen .
3.130. 77
7, 699.93
11,832.75
. 599.50
3, 730.27
7, 699. 93
II, 832. 75
Aggregate . . . .
22,663.45
599. 50
23,262. 95
A S S A Y OFFICE AT BOISlEl CITY, IDAHO.
. The business of the assay office at Bois6 City during the fiscal year
1889 is exhibited in the following table;
DIRECTOR OF T H E MINT.
ASSAY O F F I C E AT Boisife CITY,
161
1889.
Items.
Deposits .
Earnings .
Expenses
' Percentage of net expenses to deposits, 1.2.
Amount.
$827,138.81
1, 989.46
*12,187. 32
* Includes $1,500 for " Repairs of building and renovation of grounds."
There was a falling off of $102,456.36 in the value of ithe deposits at
the Bois6 assay office during the fiscal year 1889 from the preceding year.
This was due to the unprecedented scarcity of water with which to work
the placer mines in the section of country in which Boise is located.
The value of the deposits at this institution has morle than doubled
within the last few years, while the expense to the G-ovlernment for its
maintenance has not materially increased.
[
A new iron fence inclosing the grounds has been erected, and maiiy
much-needed improvements in the way of repairs to the building and
grounds have been made.
|
The expenses for the different classes of supplies during the last
fiscal year were as follows:
. i
E X P E N D I T U R E S AT THE 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 1889.
Supplies, etc.
Amount.
Acids
Assayer's materials.
Chemicals
Coal
Coke
Lead
Crucibles, covers, stirrers, and dippers..
Dry goods
Fluxes
--.
Freight and drayaTge ,
Coal oil
Gloves and gauntlets
Hardware
Ice
Labor and repairs
Lumber
/New fences . . . :
OflSce furniture, stoves, and carpet
Repairs of building
Renovation of grounds
stationery, printing, and binding
Sundries
Telegraphing and telephone rent
Washing.
Water for irrigating, sprinkling, and hydrant..
Wood
:
$36.57
13.50
20.00
184. 54
28.00
11.50,
89.36
' 22.03
28 25
76.40
80. 85
14. 00 .
137. 46
50.00
52. 50
18.90
920. 53
508. 24
405.00
165. 47
Total
,
Salaries
Wages of workmen.
3, 350.14
3, 200. 00
5, 637.18
Aggregate....
Fi89-
24.16
102. 75
87.58
18.00
158. 00
86.95"
12,187. 32
-11
162
R E P O R T ON T H E FINANCES.
John W, Cunningham was appoiiited by the President assayer and
melter of the assay office at Boise, vice Henry F. Wild, and took charge'
of the institution May 2, 1889.
ASSAY OFFICE AT CHARLOTTE, N . C.
The business of the assay office at Charlotte for the fiscal year 1889,
' allowing table
table::
is exhibited in the following
ASSAY O F F I C E AT CHARLOTTE, 1889.
Items.
Deposits
Earnings
1
.'..
Expenses
Percentage of net expenses to deposits, 2.2.
$167,605.29
945.21
4,747.34
The expenditures for the dift'erent classes of supplies during the fiscal
year 1889 were as follows:
E X P E N D I T U R E S AT THE ASSAY O F F I C E AT CHARLOTTE F O R THE F I S C A L YEAR 1889.
Supplies, etc.
A ssayer's materials .
Charcoal
Cliemicals
Coals
Crucibles, covers, stirrers, and dippers.
Dry goods
,
Fluxes
Freight and drayage .
Gas -.
Hardware
Ice
Labor and repairs
Stationery, printing and binding .
Sundries
Telegraphing and telephoning . . .
Water
:
,...
Wood
Amount.
$30.00
135.72
97.90
70.00
125.64
n.40
n.40
2.35
77.50
32. 95
11. 60
9.03
27.70
35.40
60.00
40.00
78.00
Total
Salaries
Wages of workmen.
856. 59
2, 750. 00
1,140.75
Aggregate . . .
4, 747. 34
Stewart W. Cramer was appointed by the President assayer and
melter, vice Eobert P. Warring, and took charge of the institution July
1,1889.
ASSAY OFFICE AT ST. LOUIS, MO.
The business of the assay office at St. Louis during the fiscal year
1889 is exhibited in the following table:
163
DIRECTOR OF T H E MINT.
ASSAY O F F I C E AT S T . L O U I S , M O . , 1889,
Items.
/
Deposits
Earnings
Expenses
• Percentage of net expenses to deposits, 1.6.
Amount.
$303, 692. 61
929.31
*5,'768.06
* Includes $480 for rent pending repair of building. (
The deposits at this office during the fiscal year amounted to $303,692.61, against $154,504.60 in the preceding year, while the expenses
were not materially increased, the percentage of net expenses to deposits being 1.6 for the fiscal year 1889, against 3 perlcent. in the preceding year.
I ^
The lousiness of the assay office at St. Louis has been largely increased
by Treasury Department requirements upon the assayer to make for
the surveyor of customs at that port tests of samplesi of Mexican ore.
Since September the assayer at St. Louis has made tests of thirty samples of ore, representing sixty-two car-loads. These assays necessitated a determination of the lead, silver, and copper constituents:of the
ore; which, if done at private works, would have cost ^he Government
$48(T. The work has been done free of expense to thelcustoms service.
The expenditures at this office for the different classbs of supplies for
the fiscal year 1889 were as follows:
| •
E X P E N D I T U R E S AT T H E ASSAY O F F I C E AT S T . L O U I S , FISCAL YEAR
Supplies, etc.
Acids
Assayer's materials.
Charcoal
Coal
Crucibles, covers, stirrers, and dippers .
Dry-goods
Fluxes
•
Freight and drayaige
Gas
Hardware
Ice
•
Iron and steel
Lumber
Oils.
:
Rent
Stationery, printing, and binding
Sundries
Washing
Total
Sialaries
Wages of workmen
Aggregate.
1889.
Amount.
$41.48 •
72.37
16.20
6L32
34.76
.60
19.25
L35
101.10
L80
6.95
.40
5.04
. 65 .
480. 00
-12.57
86.77
18.00
960. 61
3, 500.00
1, 307. 45
5,768.06
164
REPORT ON THE FINANCES.
SUMMARY OF T H E WORK OF MINOR ASSAY OFFICES.
The following table recapitulates the work of the minor assay offices,
including the mint at Denver, for the fiscal year 1889:
DEPOSITS, EARNINGS, AND E X P E N D I T U R E S O F MINOR ASSAY O F F I C E S , 1889.
Institutions.
Denver
Helena
Bois6 City
Charlotte
St. Louis
" Deposits.
»
Total
Earnings.
Expenses.
$1,335,188.79
1, 042,060. 84
827,138.81
167, 605.29
303. 692. 61
$5, 548.68
3,802.89
1, 989.46
945. 21
929.31
• $26, 288.17
23, 262.95
*12,187. 32
4,747.34
15, 768.06
3,675,686.34
13, 215. 55
72,-253. 84
Percentage
of net
expenses to
deposits.
1.5
1.8
1.2
2.2
1.6
* Includes $1,500 for "repairs of building and renovation of grounds."
t Includes $480 for rent, pending repair of buildinj?.
MONETARY STATISTICS OF F O R E I G N
COUNTRIES.
It has been the practice of this Bureau since its organization in 1873
to obtain from foreign countries, through the representatives oP the
UnitedStates abroad, statistics in regard to the coinage, production,
and movement of the precious metals, and recent coinage legislation.
Primarily, the purpose of this information is to enable the Director
to comply with the requirements of section 3564, Eevised Statutes,^
which requires him to estimate annually, for proclamation by the Secretary of the Treasury, the values of foreign coins. In order to do this
it is necessary for him to know the changes in the weight and fineness
of the coins of foreign countries, and the recent monetary legislation
by them.
Incidentally to the main purpose, the information annually furnished
by foreign countries enables this Bureau to present valuable statistics
in relation to the production of gold and silver, the movement of the
precious metals, and the annual consumption of the precious metals in
coina ge and the arts. Interrogatories intended to elicit the information
required are sent annually, through the Department o^State, to representatives of the IJnited States in foreign countries.
For the calendar year 1888, the replies, in the form of a report, were,
by direction of the Secretary of State, transmitted directly to the Director of the Mint, instead of being sent to the Department of State and
copies furnished the Director as formerly. This is a decided improvement, enabling the Bureau to expedite the compilation of its reports.
The replies on the part of our representatives abroad to the interrogatories for the calendar year 1888 will be found in the Appendix.*
Besides the official statistics on monetary subjects and on the production of the precious metals obtained by the diplomatic representatives of the United States from the governments to which they are
accredited, the official publications of foreign governments so courteously sent to the Bureau of the Mint have afforded useful information.
Among the publications of this kind received this fiscal year, from
some of which citations will be found in this report, are the following:
^ See foot-note, page 274.
DiRECTdtt OP THE MINt.
165
Nineteenth Anhual K^port of the Deputy Master of the Royal Mint, 1888,
London, 1889; Final Keport of the Eoyal Gold and Silver Commission,
London, 1888; Appendix to the Final Eeport of thC; Eoyal Gold and
Silver Commission, London, 1888; Mineral Statistics of the United
Kingdom, London, 1889; Government of India, Financial Staten;ient,
1889-90; Finance and Eevenue Accounts of the Government of India,
1889; Gold Fields of Victoria, 1888; Gold Fields of Victoria, 1889.;
Eeport of the Mining Industry of New Zealand, Wellington, 1889 ; Annual Eeport of the Secretary of Mines'of Victoria for 1888; Melbourne,
1889; Eeports on Mining Machinery and Treatment of Ores in Australian Colonies and America, Wellington, 1889; Eepoilt of the Department of Mines in Nova Scotia; Monatshefte zur Statistik des Deutscheui
Eeichs, Jahrgang 1889; Zeitschrift fiir Berg-Hiitten-und Salinenwesem
im Preussischen Staate, Jahrgang 1889; Bulletin de jStatistique et de^
Legislation Compar6e, Treizieme Annee, 1889; Systemes Mon^tairesi
des differents Pays, P^ Fascicule, Paris, 1888; Statisti^quederindustrieMin^rale en France et en Alg^rie, Paris, 1888.
|
The very valuable report of the deputy master of the royal mint^
London, is replete with information on monetary subjects, which have
been freely used in the statistics presented in this report.
As some of the replies are to the interrogatories for jthe calendar year
1887, and as the answers to them are indicated by thje numbers of the
questions only, the series of interrogatories for the calendar years 1887
and 1888 are here appended.
I
•
•
.
'
. 1
I
INTERROGATORIES ADDRESSED TO THE REPRESENTATIVES OF | THE UNITED STATES
IN FOREIGN COUNTRIES BY THE BUJREAU OF THE MINT, THROUGH THE DEPARTMENT OF STATE.
i
.
Calendar year 1887.
I
(1) W h a t was tbe amount of gold coined during the calendar lyear 1887, by denom-.
inations and values? What amount was recoined during the year, national and foreign coins separately ?
•
j
(2) Same for silver.
I
.
(3) In case of an organized mint service, give name and official title of chief officer,
and location' of mints.
i '
(4) What was the import and export of gold coin and of gold bullion during the
calendar year 1887 ? Coin and bullion should be given separately where practicable..
(5) Same for silver.
;
(6) What was the weight, expressed in kilograms, and the value of the gold pro-,dnced from the mines during the calendar year 1887 ?
!
(7) Same foi: silver.
;
(8) Were any laws passed during the year 1887 affecting the coinage, issue,or l e g a l tender, character of the metallic and paper circulation? If so, please t r a n s m i t ,
copies.
j
Calendar year 1888.
i
(1) W h a t was the amount of gold coined during the calendar year 1883, by denom-inationsand values? What amount was recoined d u r i n g t h e year, national and foreign coins separately ?
| ,
/
(2) Same for silver.
i
(3) W h a t was the import and export of gold coin and of gold bullion during the •
calendar year 1888? Coin and bullion should be given separately where practicable.
(4) Same for silver.
i
" (5) What was the weight, expressed in kilograms, and the value of the gold pro-duced from the mines during the calendar year 1888 ?
j
(6) Same for silver.
i
(7) Were any laws passed during the year 1888 affecting the cpinage, issue, or legal-^tender character of the metallic and paper circulation? If so, please transmib^copies.
I
166,
REPORT ON THE FINANCES.
A brief'r6sum6 of the more important information contained in the
foreign papers and publications received, relative to the production, consumption and movement of the precious metals, is here appended:
GREAT BRITAIN AND BRITISH COLONIES.
Great Britain and Ireland.
Items reported for 1888.
Gold coinage
Light gold coin recoined
Silver coinage
Worn silver coin witJidrawn from circulation
Oold importedl
Gold exported
Gain of gold by imports
Silver imported
Silver exported
=
„
Loss of silver by e x p o r t . . .
Gold obtained from ores produced in the kingdom.
Silver obtained from ores produced in the kingdom
Value in
Pounds ster- United
States
ling.
money.
£2, 032, 955
1, 677,466
756, 578
235, 681
$9, 893, 375
8,163,388,
3, 681, 886
1,146,941
15, 000, 000
14,250, 000
72, 997, 500
69, 347,625
' 750,000
3,649, 875
6, 000, 000
7, 500, 000
29,199,000
1, 500, 000
7, 299, 750
36,498, 750
29, 982
145, 907
57,421
279, 439
The gold coinage of Great Britain for the year 1888, while it exceeded
,that of 1887 by £283,000, was below the average, and consisted exclusively of sovereigns. The imperial gold and silver coins struck were all
of the new designs.
The figures given for the gold coinage represent the coin delivered to
the mint offices for issue to the public, and do not correspond to the
total amount of good pieces of imperial gold coin struck during the year,
which was £2,277,424 ($11,083,083)=^
The amount of light-weight gold coins withdrawn from circulation
by the Bank of England, and sent to the mint for coinage, was very
large, amounting, from E"ovember, 1888, to May, 1889, to £2,272,000
($11,056,688).
Notwithstanding the exceptionally large coinageof silver in Great
Britain in 1887, the demand for silver coin, especially u|)on the part of
the colonies, was excessive, and the colonial coinages executed were
very large.
Omitting the nickel and bronze coinabges, the following gold and silver
coinages were executed: For Hong-Kong coins of the nominal value.of
$1,105,000, consisting of 20,10, and 5 cent silver pieces 5 for Canada, a
silver coinage of the nominal value of $230,000, in 50, 25, and 10 cent
pieces 5 a recoinage of 20-cent pieces into 25-cent pieces, of the nominal
value of $17,174, for the government of Canada; a gold coinage consisting of $2 pieces, and a silver coinage consisting of 50, 20, and 10
cent pieces, for E^ewfoundland, of the nominal value, including some
bronze, of $80,500; a silver coinage for the Straits Settlements of the
nominal value of $244,000, in 50, 20, 10, and 5 cent pieces.
Since the close of the calendar year 1888, a silver coinage for Canada
of the nominal value of $120,000^ in 10 and 5 cent pieces, a silver coinage
for the Straits Settlements of th.e nominal.value of $100,000, in 50, 20,
DIRECTOR OF THE MINT.
I
167
and 10 cent pieces, and a silver coinage for Hong-Kong: amounting to
$500,000, have been executed at the Eoyal Mint.
i
A silver coinage for the Eepublic of Ecuador of the nc^minal value of
100,000 sucres, or dollars, was executed in 1888 by Messirs. Ealph Heaton & Sons, of Birmingharb.
|
The final report of the Eoyal Commission appointed in 1886 " t o inquire into the recent changes in the relative values df the precious
metals shown by the decrease in the gold price of silver " has been received at this Bureau. The commissioners unanimously adopted the
following statement as to the causes of the disturbance|in the relative
value of gold and silver:
t
i
We are of opinion t h a t the true explanation of the phenomena 'which we are directed to investigate is to be found iu a combination of causes, and jean not be attributed to any one cause alone. The action of the Latin Union in 1873 broke the link
between silver and gold, which had kept the price of the former, as measured by
the latter, constant at about the leojal r a t i o ; and when this link w a s broken t h e
silver market was open to the influence of all the factors which go (to affect the price
of a commodity. These factors appear, since 1873, to have operate'd in the direction
of a fall in the gold price of t h a t metal, and the frequent fluctuatiojus in its value are
accounted for by the fact t h a t the jnarket has become fully sensitive to the other
influences to which we have called attention.
'
I
When it came to suggesting a remedy which would remove the evils
acknowledged to have resulted from the disturbance. in the relations
between gold and silver, the commissioners were unable to agreCo
Six commissioners reported in favor of "a bi-metallic{contract which
would bind England and the other principal nations of the world, while
the other six commissioners were of the opinion that ttie remedy suggested should not be adopted.
|
However unfortunate the fact may be that there was jsuch a radical
difference of opinion among the commissioners as to t)ie remedy proposed, the published reports of the commission containia valuable collection of the latest and best information on the subjects examined, and
hence their labors can not be said to have been wasted!
A change has-been made in the method of rating tljie value of the
Mexican dollar and the East Indian rupee in sterling m'oney.
From 1882 to 1888 the value of these coins was estimated at the average market price of silver during the preceding twelve rponths. * At the
beginning of 1888, however, the valuation was made on Ithe 1st of April
and October in each year, based on the average price of silver for the
preceding six months. In November last, it was directeld that the valuation should in future be made at the end of each quarter, based upon
the average price of silver during the preceding three tnonths.
Australia.—The coinage of the mint at Sydney, during the calendar
year 1888, consisted exclusively of sovereigns,.of the valine of £2,187,000
($10,643,035). Light gold coins were received for recoinage of the value
of £99,339 ($483,4:J3).
t
The coinage of the mint at Melbourne amounted to 4^2,830,000 ($13,772,1&5), all in sovereigns,
i
The usual statement, kindly furnished annually by Mij. George Anderson, deputy master of the Melbourne branch of the royal mint, of the
production of the several provinces of Australia and I:^^w Zealand had
not been received for the year 1888, at the date thi^ report went to
I)ress.
I
From official reports, however, we learn that the gold product of Victoria was in 1888, 625,026 ounces^ an increase of 7,275j ounces over the
product of the preceding year; of Queensland, 459,353 ounces against
168
E E P O R T ON T H E FUSTANCES,
425,923 ounces in 1887, an increase of 33,430 ounces ; of New Zealand,
201,622 ounces, against 224,678 ounces in 1887, a decrease of. 23,016
ounces. The increase for the three colonies was 17,689 ounces of gold.
According to the official report of Mr. Eobert Hunt, deputy master of
the Sydney mint, there has been a marked decrease in the output of the
gold fields of the other colonies.
India.—During the financial year ending March 31, 1888, there was
no coinage of gold by the Indian mints.
The silver coinage amounted to 107,900,000 rupees ($51,112,230). This
included recoinages at the Calcutta mint of 31,837,783 old style rupees
and 6,298,384 rupees of defaced and uncurrent coins, and at the Bombay
mint, of 250,000 rupees of uncurrent coins; a total recoinage of 38,386,167 rupees ($18,183,527).
The following table exhibits the net imports and coinage of silver in
India during the ten financial years ended March 31,1888:
Year.
1878-'79
1879-'80
1880 '81
1881-'82
1882-'83 . . .
1883-'84
1884-'85...'18S5-'86
1886-'87
1887-'88
ISTet i m p o r t s .
:
-
.-..
!
•-... . .
.
:
Total
*Pupees.
39, 700, 000
78, 700, 000
38, 900, 000
53, 800,000
74, 800, 000
64,100, 000
72, 500, 000'
Coinage.
116,100, 000
71, 600, 00(T
93,100, 000
^Rupees.
72,100, 000
102, 500, 000
42, 500, 000
21, 900, 000
65; 100, 000
36, 600, 000
57, 900. 000
102, 900, 000
46, 200, 000
107,900,000
703, 300, 000
055, GOO, 000
* The coining value of the silver rupee in term s of the gold mohur is $0.4737 ; its commercial v^aluo
January 1, 1889, was $0.32.3.
-
The product of gold in India is steadily on the increase. For the
calendar year 1888 it is reported to have ^amounted to £134,550
($654,787), as follows :
GOLD PKODUCT OF B R I T I S H I N D I A F O R T H E CALENDAR YEAR 1888.
Provinces.
Value of
product.
Mysore
Nundydroog . - Ooregum
B^alaghaut
Smaller returns
£73, 540
26,300
15,140
. 10,480
9.000
Total . . : .
134, 550
169
DIEECTOR OF THE MINT.
FRANCE.
1.
Items reported for 1888.
Kilograms.
Francs'
Value in
United States
money.
1
Coinage:
Gold..
Silver (subsidiary) *
Silver for French colony of Indo-China
Imports:
Gold coin
Gold bullion
,
554; 140
5,7631624
5,7025168
65, 562| 950
36, 009| 803
Total
101,5721753
Silver coin
Silver bullion
J
163, 813;, 213
;
Exports:
Gold coin
Gold bullion
1
®
1
160, 725, 037
31, 743I 563
192, 468, 600
Total
Silver coin
Silver bullion
19, 603, 541
142, 799', 498
21, 013; 715
i
Total
$106, 949
1,112, 379
1,100,518
31; 615, 950
'
37,146,439
106, 017; 827
3, 024', 158
_
Total
54,314
Silver product of the mines, 1887
. 109,041,985
21,045,103
8, G00| 486
2, 257, 289
1
* Recoinage of old national silver coins.
BELGIUM.
There was no coinage of either gold or silver by th'e Belgian mint
during the year 1888.
[
Items reported for 1888.
Imports:
Gold bars
Gold coin
Gold jewelry, e t c . .
Silver ore
Silver bars
Silver coin
Silver jewelry, etc.
Exports:
Gold ore
Gold bars
Gold coin
Gold jewelry, etc..'.
Silver bars
Silver coin
Silver jewelry, etc.,
Kilograms.
Francs.
1,720
26
1, 984, 212
245,877
5,600
40, 771
1,462, 884
'54, 861
9,046
12, 006
$1, 872
Value in
United States
money.
$1,143,112
17,279
382,952
10, 218, 648
232,736
i, 694,442
282, 336
19, 273
61, 807
5, 316
10.588
375, 951
498, ges*
15, 801
170
E E P O R T ON T H E
FINANCES.
ITALY.
Items reported for 1888.
Kilograms.
Gold coinage
,
—
Gold:
'
.
Imports (according to statistics of foreign ministry)
Exports
Silver:
Imports
......:
Exports
A:ccording to customs statistics:
Gold:
Imports
Exports
Silver:
Imports
Exports
.?
Production of the mines:
. Gold.....
Silver.
,.
160
34,280
Lire.
Value in
United States
money."
2,433, 940
. $469, 750
20, 833, 040
39, 401, 582
4, 020, 770
7, 004, 505
61, 079, 647
79, 812, 863
11, 788, 371
15, 403,882
7,423, 000
22, 657, 700
1,432,639,
4, 372, 936
59,607, 400
52, 821, 000
11,504,228
10,194, 453
436, 452
5, 313, 400
106, 336
1,424,676
SWITZERLAND.
Items reported for 1888.
Coinage:
Gold* . . .
Gold:
Imports .
Exports..
Silver:'
Imports .
Exports..
Francs.
Value in
United States
money.
88,000
$16,984
13, 419, 900
4,039,949
2,590, 040
779,710
30, 311, 800
17, 038,187
5, 850,177
3,288, 370
* The material for the gold coinage was obtained by melting coins withdrawn from circulation
and uncurrent foreign coins.
The total coinage of Switzerland since 1850 has amounted to :
Metals.
Gold, 20-frano pieces
Silver, 5-franc pieces
Silver, subsidiary . . .
• Francs.
12, 088, 000
'10,478,250
, 22, 000,000
Value in
Unite'd States
money.
$2, 332, 984
2, 022,302
4, 246, 000
171
DIRECTOR OF THE MINT.
SPAIN.
1
<.
Items reported for 1888. .
.
Kilograms.
Valuein
Utiited States
money.
Pesetas.
i
•
22,l988, 625
Silver coinage, 5-peseta pieces
1
Imports:
Gold bullion
$4,436,804
-
i
•
•
•
1948,600
117, 890
•-..
Total
Exports:
Gold bullion
1,006,490
205, 832
I
;105,400
20, 342
Imports:
Silver coin.
Total .
.
Exports:
Silver bullion . . ;
Silver coin
i.
! 11, 220
2, |424, 697
...
2,k35,917
470,131
2, 723, 460
• .123,510
....
Total
....Production of the mines (fiscalyear 1888)
2, 846, 970
9, 737, 789
1
51, 502
549, 465
2,140, 423
The coinage of full legal-tender silver pieces, executecl at the Madrid
mint during the calendar year 1888, consisted of old coins withdrawn
frgm the Philippine Islands and other parts of the Ea^t, recoined into
pieces of the present standard.
|
PORTUGAL,
Items reported for 1888.
Milreis.
Coinage:
,
Gold..^
Silver
"Recoinage of silver from foreign coins.
Gold coin imported
Gold coin exported
Silver coin imported
Silver coin exported
^5, 000
1,420, 000
960, 000
4,506, 368
529,905
92, 534
.
NETHERLANDS.
95.323
Florinis.
!
/
**.
.
Silver coin.
Exports:
..
.
.
.
'
• . $143,051
6, 7]!4, 021
. 2,361,510
2,699,036
949, 327
13, 814,516
.. .
......
Value in
United States
money.
3^5,850
. r
."
.
$102, 600
1,533,600
•1, 036, 800
• .4, 866, 877
. 572,297
•. 99,936
102, 948
!
.!
Items reported for 1888.
Imports:
Gold bars
Gold coin
Exports :
Gold coin . . . . 4
Imports:
Value in
Uuited States
money.
283, 080
685,497
5, 553,435
113, 798
275, 569
j
8,400
9,9^0,000
. 3,376
4, 003, 920
172
REPORT ON THE FINANCES.
AUSTRIA-HUNGARY.
Items reported for 1888.
Florins.
Coinage:
Gold
Silver trade coins
FuU legal tender silver coins
Fractional silver coins
5, 700,485
Value in
United States
monev.
$2, 747, 633
2, 340,150
1,127, 952
8, 560, 305
4,126, 067
543,924
262,171
It will be seen that there was a large issue of Maria-Theresa thalers
for circulation in the Levant, all coined at the mint at Vienna, aud also
a large issue of full legal tender silver coins, consisting of l-florin and
2florin pieces, executed at the mints at Vienna and Kremnitz.
GERMANY.
Items reported for 1888.
Coinage:
Gold
Recoinage of imperial gold coins
Recoinage of foreign gold coins
Silver (subsidiary)*
Imports:.
Gold coin
,
Gold bars
Exports:
Gold coin
Gold bars
Bars (weight not stated)
Imports:
Silver coin
.Silver bars
Exports:
Silver b a r s . . . .
Bars (weight not stated)
Silver coin
" P a g a m e n t " (scrap gold and' scrap silver):
Imports
w
Exports
Product of smelting works:
Gold
Silver
Kilograms.
Marks.
144, 288, 750
174,1G5
24,496
4,155, 999
Value in
United States
monev.
$34, 340, 722
41,°451
16, 280, 041
989,127
20,445
29, 843
13,587,747.
19,833,657
29, 804
8, 671
19,^,847,614
5,^762, 746
281, 792
1,184, 000
334, 641
3,293,380
8,052
79, 244
12, 421, 000
10, 898,819
2, 956,198
264, 945
31, 790
71
15, 348, 000
35, 000
3,652,824
8, 330
1, 810
406, 567
5, 053, 000
51,425, 000
l,-202, 92&
16, 896, 924
262, 243
6,375
•All the silver coins were executed from 20-pfennig pieces recoined.
The production of gold and silver in Germany, given in the official
paper, represents the product of the smelting works, the bulk of which
is extracted from foreign ores.
The value of the gold and silver ores mined in Germany during the
calendar year 1888 was 4,086,017 marks against 4,177,720 in 1887, a^
will be seen from the following statement:
173
DIEECTOR OF T H E MINT.
PRODUCTION OF A N U M B E R O F IMPORTANT M I N E S I N T H E GERIVIAN E M P I R E AND
LUXEMBURG DURING THE YEARS 1888 AND 1887:
[Monatshefte zur Statistik des deutschen Reichs 1889, 11.4, 5:]
1888.
^
1887.
!
1
Gold and silver ores.
Tons of 1,000
kilograms.
Marks
Tons of 1,000
kilograms.
Marks.
!
1
Saxony
Other German States
Total for German Empire
.......
20, 317
63
4,044,794
41, 223
20,380
4,086, 017
j 25, 651
i
'^^
'25,725
,4,121,822
55,898
4,177, 720
<
The following tables, furnished by Dr. Soetbeer, are of interest, as
showing the revolution that has taken place in Gerni'any's monetary
affairs during the last twenty years.
'
TABLE SHOWING, I N ROUND NUMBERS, T H E PROBABLE STOCK OF M O N E Y IN G E R • MANY AT T H E BEGINNING OF 1869.
'
Moneys.
Gold
Silver
Coppef coins
Paper money
Uncovered bank notes
Value.
-
-
Total
_
^
Per capita
of the
population.
* Marks.
116,000, 000
1, 57iL, 000.000
^, 000,000
166, 000, 000
29.7,000,000
Marks.
3.02
40.31
0.10
4.31
7.71
2,154,000, 000
55.45
* Value of a mark = $0,238.
T A B L E SHOWING THE PROBABLE TOTAL STOCK OF M O N E Y I N ' GERMANY AT T H E
B E G I N N I N G OF 1889.
• |
Moneys.
Gold coins
Other gold
Thaler pieces
Imperial silver coins
Nickel and copper coins
Imperial treasury notes
Uncovered bank-notes
Value.
I
*Marks:
1,780,000, qoo
350, 000,000
444, 000, 000
452, 000, 000
51, 000, 000
127, 000, 000
210, 000, 000
.'
\..
Total
3,414, 000, 000
* Mark = $0.23.8.
Per capita.
Marks.
44.38
18.67
1.06
2.65
4.37
7L13
174
R E P O R T ON T H E FINANCES.
TABLE SHOWING THE COMPARATIVE MONETARY CONDITION OF T H E P O P U L A T I O N
P E R CAPITA I N 1869 AND 1889.
Moneys.
Gold
Silver . . . . I
Nickel and copper
Paper moineY and bank-bills
Total
Difference
January,
1889."
1869.
1889.
*Marks.
3.02
40.81
0.10
12.02
Marks.
44.38
18.07
1.06
7.02
Marks.
+4L36
22 14
+ 0.98
— 5.00
' 55.95
7L13
+15.18
* Mark ==$0.23.8.
SCANDINAVIAN UNION.
Ko gold was coined at the mints of Denmark, Norway, or Sweden
during the calendar year 1888.
Items reported for 1888.
Kilograms.
Crowns.
Silver coinage (subsidiary)* .
Gold:
Imports
Exports
Silver coinage (subsidiary)
Imports :
Gold coin
—
Gold bullion
Imports :
Silver coin
Silver bullion
Exports:
Silver coin
Silver bullion
Product of mines:
Gold
Silver
Value in
UnitedStates
money.
233,149
$62,483
•
1, 072, 000
670,000
62, 368
16,714
310,137
83,116
328, 312
494
530, 670
..
746
142,219
31,003
129, 000
34, 572
914
189, 947
524,182
50, 367
193,198
200,000
53, 600
22
75.786
4,648.657
<?
4, 000,000
2, 500, 000
NORWAY.
Silver coinage (subsidiary)
* Includes 30,000 crowns in 25-ore pieces recoined.
175
DIRECTOR OF THE MINT.
RUSSIA. •
Quantity.
Items reported for 1887.
Roubles.
26, 055, 035
121,000
51p, 507
1,500,000
Gold coinage
Gold bars of 1,000 roubles each
Silver coinage, full legal-tender coins.
Subsidiary silver coins
Imports:
Russian gold coins
. Foreign gold coins
Gold bars
Value in
United States
money.
$20,109, 276
93, 387
394, 009
1.157, 700
Poods. Lbs.
21 37
105 27
23 34
151 18
Exports :
Russian gold coin.,
Foreign gold coin..
Gold b a r s . .
1, 648, 757
546 19
544 14
214 3
1,304 36
Imports:
Russian silver ,coin .
Foreign silver coin .
Silverbars
14, 205, 767
190 2
930 13
3,358 3
4,478 18
Exports:
Russian silver coin .
Foreign silver coin..
Silverbars
3,048, 794
32 37
520 7
2,788 22
3,341 26
$2,274, 895
Kilograms.
Gold product of the mines (amount, deposited at
the mint)
Silver product of the mines (amount deposited at
the mint)
30, 232.868
26, 032, 513
13,110.899
7^8, 539
20,092,764
544, 888
1
Items reported for 1888.
t
Roubles.
Quantity.
j
Gold coinage .Gold bars of 1,000 roubles each
Silver coinage, full legal-tender coins
Subsidiary silver coin
Imports:
Gold coin
Gold bars
=oo
=
26, 510,095
l4l,()G0
500, 022
1, 007, 010
:
... ..................
==.o =
Imports:
Silver c o i n . . . . . . . . . . ' . . . . . .
Silver bars.=-..
...
,
oo. = o.- =
$20,460,491
108,823
385 916
777 210
» Poods. Lbs.
1,089 17
350 16
1,439 33
Exports:
Gold coin..o.
Gold b a r s . . .
Value in
United States
money.
903
1,403
6
3
2,306
9
15, 674, 626
25,106, 672
1,705 18
10,842 14
12,547 32
8, 542,165
176
REPORT ON, THE EINANCES.
RUSSIA-—continued.
Items reported for 1888.
Quantity.
Exports:
Silver coin,.
Silverbars.
Roubles.
Value in
United States
money.
Poods. Lbs.
474 27
2,589 35
3,064 22
Gold product of the mines (amount deposited at the
mint
Silver product of the mines (amount deposited at the
mint)
Kilograms.
32,052.876
14,523
2, 086, 253
27, 599, 661
21, 302, 341
807, 014
603, 575
Piasters.
Value in
United States
money.
TURKEY.
Items reported for 1888.
Coinage:
Gold
Silver
1,500,000
1,692,000
$60, 000
74 448
All the gold and silver coinage executed at the mint at Constantinople
consisted of old coins recoined.
EGYPT.
The foliowiog coinages for Egypt were executed at the Eoyal Mint in
Berlin during the calendar year 1888:
Metals.
Gold
Silver
•
*
Piasters.
5,202, 400
171,630
Value in
UnitedStates
money.
$257,154
8,483
This is the first gold coinage that has been executed under the new
monetary system of Egypt.
The new coinage for Egypt executed at the mint at Berlin since 1886
has amounted t o :
Metals.
Gold..
Silver.
Piasters.
5,202,400
108, 514,235
Value iu
United States
money.
$257,154
5, 363, 858
The coinage of Siam is confined to pieces of silver and bronze, the
latter executed in Germany.
The unit of value is the ^< tical,'' equal to 64 ^' ots," the '' oV^ being a
bronze coin about equal in value to an American cent.
177
DIEECTOR OF T H E MINT.
AFRICA.
I
The production of gold in Africa is confined .to its; southern part,
and mainly, at present, to the South African Eepublic of tbe Transvaal.
Although gold has been shipped from South Africa i'n varying quantities, now larger and now smaller, for about eighteen years, it is only
within the past twenty months or so that the gold mining industry there
has become really important. From 1871 to the end of 1887, the exports
of gold from Gape Colony reached a total of £410,402,[and those from
!N^atal, io the same period, a total of £467,166, the aggregate shipments
for the seventeen years amounting to £877,568. Since the end of 1887,
the exports have been as follows: for the first four months in 1888,
the total was, for both colonies, £243,696 value;, for jthe second four
months, £301,752; tor the third four months, £360,746. For the first
four months in 1889, £423,089, and for the second four months, £516,527.
During these twenty months, Cape Colony exported i£i,048,336, and
ISTatal, £797,472, a total for the two colonies of £1,845,810. The gold
export up to the end of August,^ 1889 amounted to £96^9,619.
It thus seems that the shipments of the precious mentals from Cape
Colony and Natsl ports in the sixteen months to the en|d of April, 1889,
were about half as much again as the total exports of the preceding
seventeen years.
i
The cause of this enormous growth of South Africa!n production is
the rapid development of the Transvaal gold fields, especially in the
Witwatersrand district.
I
We here give, month by month, the development of the production
of that district:
i
Period.
Mjonthly
projduction.
Troy ounces.
1887 (entire;
1888: January . . .
February..
March
April..
May
June
July
August.,...
September.
October —
November.
December..
11,2691
12,161 •
14,709
15, 853
19, 002
16, 328
19, 963
19,877
20,129
27, 773
27, 336
26,148
Annual
production.
f ounces.
18, 733
230,-548
The following table shows the estimated total gold production of the
several zones of the Transvaal since 1884:
j
I
Part (not proclaimed a zone) of tlie District of Lydeuburg (worked since
1887)
.;
De Kaap Valley (worked since 1886)
J-.-.
Komati (worked since 1887)
~-..:,.... 4
Various Moodie mines (worked since 1884)
i
Witwatersrand (worked from 1887 to the end of May, 1 8 8 9 ) . . . . . i
Klerksdorp
\
Malmani
i
Zoutpansberg
i
Total ounces
Kilograms
1
j.....
Ounces.
18,080
80,529
1,181
38,061
392,512
2,528
442
845
534,178
16,608
Valued at $11,037,676—the total Transvaal gold product from 1884, to
June 1,1889.
!
•
Fi89
12
I
°
178
REPORT ON THE FINANCES.
CHINA.
The new mint erected at Canton for the coinage of silver and copper
coins is about finished, and a complete plant of modern machinery has
been furnished by Messrs. Ralph Heaton & Sons, of Birmingham.
This miut is to contain ninety presses and will be capable of executing a daily coinage of 100,000 pieces of silver and 2,600,000 pieces of
bronze, or copper ^^ cash.'' Coins of the following denominations are
to be struck :
Coins.
Weight.
SILVER
Grains.
420.88
210. 44
84.18
42. 09
Dollar
Half dollar-.:
20-cent piece
10-cent piece
Fineness.
,900
.900
.900
.900
BRASS.
Copper cash
57.65
The proposed silver dollar of China will be heavier than the standard dollar of the United States by 8.38 grains, and heavier than the
trade dollar by .88 grains. It will contain 1.62 grains more pure silver
than the Mexican dollar.
The following table, comparing the weight, fineness, and pure metal
contained in the new Chinese dollar with the other silver dollars of
commerce, will be of interest:
Weight. ^ Fineness.
Silver dollars.
Grains.
420.88
420. 00
417.79
416.00
416. 00
412.50
New Chinese dollar
French piaster (for Cochin-China)
Mexican dollar
Yen of Japan
Hong-Kong dollar
IJnited States standard dollar
.900
.900
.902.7
.900
.900
.900
Grains.
378.79
378.00
377.17
374.40
374.40
371.25
The exportation of gold through Chinese harbors, especially Tientsin,
has largely increased in recent years. This gold comes principally from
the Chinese Amoor district on the borders of Russia.
The following figures show the importations of gold from China;
INTO GEEAT BRITAIN.
in United
Pounds sterling. Value
States money.
Years.
1885
1886
1887
1888
„
•'.
,
..„o,
1,190,743
1,158, 297
1,051, 520
1, 052,741
$5,794,7.'50
5,636,852
5,117,222
5,123,164
179
DIRECTOR OF THE MINT.
^ INTO BRITISH I N D I A .
'
' •
Years.
1884-'85
1885-'86...
1886-'87
i
Rupees.
Value in IJnited
States money!
9,25^, 330
11,16f, 148
9, 25i, 590
JAPAN.
I,
$4,385, 670
5, 287, 035
' 4,382,478
.
[Received too late for use in the tables of the world's production and coinage.]
Items reported for 1888.
Ounces.
Coinage:
Gold
Silver
Gold imports:
Coin
Bullion
Silver exports:
Coin
Bullion
Silver imports:
Coin
Bullion
Product of mines:
Government mines, 1888 (gold) .
Private mines,. 1887 (gold)
Government mines 1888 (silver) .
Private mines, 1887 (silver)
Yens (or dollars).
*829,930
tlO, 224, 095
412,213
1,409
6, 316, 761
847, 627
533, 394
5, 676,100
221,217
207, 595
251, 200
1, 246, 736
* Includes recoinage of 1,984 yens.
t Includes recoinage of 6,292 yens.
MEXICO.
Items reported for 1888,
Coinage, calendar year 1888:
Gold...
Silver
^.
Recoinage of national silver coins
Coinage, fiscal year 1889:
Gold
Silver
Product of the mines, 1888 (estimated:)
Gold
Silver
o,==,o..-
1
Fine ounces.
Value.
26,658,964
337, 558
334, 972
26, 031, 222
32, poo, 000
974,223
41, 373, 737
PERU.
Items reported for 1888.
Silver coinage
Gold exported in b a r s . . .
Silver exported in bars .
Kilograms.
158
75,|263
Soles (or dollars).
3,258, 000
105, 052
3,127,930
180
REPORT ON THE FINANCES.
ARGENTINE
REPUBLIC.
I t e m s r e p o r t e d for 1888.
Gold coinage
.•
Value.
,
$8, 316, 325
Gold:
Imports
44, 613, 897
Exports
8,492, 374
Silver:
196, 253
ImiDorts
Exports
242,126
i
P r o d u c t of m i n e s : "
Gold.
30, 798
i
Silver
424, 831
i t will be noticed that the Argeutine Eepublic has absorbed over
$36,000,000 in gold during the last year.
CHILI.
I t e m s r e p o r t e d for 1887 a n d 1888,
Value.
Coinage, 1888:
Gold......
$42,170
Silver (subsidiary)
122,375
I m p o r t s , 1887 :
Gold coin
"
3,060
Gold b u l l i o n . :
356
Exports:
Gold coin
72, 055
Gold b u l l i o n
370,463
Gold ore
I m p o r t s , 1887 :
1,148.899
.
.
Silver coin
1
73, 563
Silver b u l l i o n
,..
9,923
Exports:
Silver coin
245,430
^
Silver bullion
8,291,920
P r o d u c t of m i n e s , 1887 ( e s t i m a t e d ) :
Gold
I. 591,417
Silver
'.
8, 537, 350
COLOMBIA.
I t e m s r e p o r t e d f o r 1887.
Kilograms.
Value.
Silver coinage* . .
Exports:
Gold d u s t - —
Gold b a r s
177, 296
2, 610, 504
Gold coin —
83, 632
Total gold.
2, 871,432
Silverbars..
200, 000
Silver c o i n . . .
T o t a l silver .-
914, 985
1,114, 985
P r o d u c t of m i n e s :
Gold ( a p p r o x i m a t e l y ) . .
3, 000, 000
Silver ( a p p r o x i m a t e l y ) .
1, 000, 000
* T h i s coinage w a s all i n half-dollar p i e c e s of t h e fineness of .500, a n d c o n s i s t e d p r i n c i p a l l y of rec o i n a g e s of s i l v e r coins of t h e fineness of .666 a n d .835.
181
DIRECTOR OF THE MINT.
COLOMBiA—continued.
Kilograms.
Items reported for 1888.
Silver coinage*
Imports:
Gold coin
Gold jewelry
1....
Imports:
Silver coin
Silverbars
Jevrelry
Product of mines:
Gold (approximately)...
Silver (approximately) ,
Value.
iO, 443
}3.
I 1.008
i 4.253
! 7.472
! .149
1, 500, 000
1, 200, 000
* The bulk of the silver coinage consisted of 50-cent pieces of the fineness of .500. Of the silver coinage $260,938 was recoinafi^e.
BOLIVIA.
"^
!
Bolivianos (or
dollars).
Items reported for 1888.
1, 763,452
Silver coinage
,
.'.
Exports:
Gold
.•
Silver ores and bullion '.
. Silver iu old plate
Silver coin
,
Silver product of mines (estimated):
1887
:
.'...
49, 086
8,159, 230
9,908
468, 745
12, 000, 000
11,000,000
VENEZUELA.
Items reported for 1888.
Coinage:
Grold
.. ..
Silver
Imports of silver bullion
Exports of cold and silver
Product of mines:
Gold '..
.
.
Kilograms.
.
6,540
.
Bolivars.
4,l856, 620
1,999, 997
j.
4,|072, 739
Value in
United States
jnonej.
$660, 500
272,000
271, 802
553,892
1
6,|939,424
943, 761
From a resolution published by the national executive, printed in the
Appendix,* it will be seen that the coinage of silver in Yenezuela has
been suspended,
|
.
* See foot-note, page 274.
182
REPOET ON THE, FINANCES.
Milreis.
Items reported for 1888.
Coinage:
Gold..
Silver*
Imports:
Gold coin
Exports:
Gold dust and bullion.-•-- ..
Gold coin
Imports:
Silver bullion
Product of mines:
(3-old
.
.
"
..
.
Value in
UnitedStates
money.
47,770
1, 618, 233
$26, 082
883, 555
19,991,403
10,915,338
815, 559
14, 290
445,295
7,802
2, 467, 792
1,347, 414
402, 808
219, 933
* Includes recoinage of 366,811 milreis.
By the act of October 26, 1888, the minister of finance interdicted
the coinage of silver for individualSo The silver coinage hereafter will
be executed only for the Government.
ECUADOR.
A silver coinage amounting to 373,177 sucres, or dollars, was executed for the republic of Ecuador at the mint of Chili during the year
1888, and a silver coinage of 100,000 sucres by Messrs. Ealph Heaton &
Sons, of Birmingham, Englando
PHILIPPINE ISLANDS.
An interesting paper will be found in the Appendix from Mr. Alexander E. Webb, IJnited States consul at Manilla, relative to the currency of this Archipelago,
From a perusal of Mr. Webb's report it will be seen that the Mexican
dollar is at the head of the Philippine currency. The dollar of account
used in bills and invoices is neither a Spanish, Mexican, nor American
dollar, but one whose value is regulated by the law of supply and demand. Calculated on the basis of American gold, the ideal dollar is
worth from 75 cents to 90 cents, according to the state of the trade,
American gold is at a premium of 20 per cent, in ordinary business
transactions. The Mexican dollar is quoted at 80 cents.
HAWAII.
Items reported for 1888.
Gold:
Imports
Exports
Silver:
Imports
Exports
of coin
of coin
of coin
of coin
Value.
$1, 207, 565
23, 833
1,512
4,585
DIRECTOR OF THE MINT
'
.183
The national indebtedness of the Hawaiian Islands'is stated by our
minister to amount to $2,600,000, of which $1,000,0^0 is represented
by bonds negotiated in London, and the remainder by boncls negotiated in Hawaii and the Hawaiian Postal Savings Bank Deposit.
OFFICE OF THE DIRECTOR OF T H E Mli^^T.
The first section of the act of February 12, 1873, revising and amending the laws relative to the mints, assay offices, and coinage of the
United States (section 343, Eevised Statutes), provides:
.
There shall be established in the Treasury Department a Bureau of tlie Mint, embracing in its organization and under its control.all mints for the liianufacture of coin,
and all assay offices for the stamping of bars which are now, or which may be hereafter, authorized by law. The chief officer bf said Bureau shall be denominated the
Director of the Mint, and shall be under the general direction of the Secretary of the
Treasury.
'
Soon after the passage of this act, Dr, Henry E. Linderman, who had
been director of the mint at Philadelphia, and who was thoroughly conversant with all matters relating to coinage, both theoretically and
practically, and with mint administration, was appointed by the President, Director of the Mint, in which capacity he served until his
death January 27,1879.
I
On March 5, 1879, Horatio C, Burchard, who had trepresented the
Sixth District of Illinois in the E"ational House of ;Eepresentatives
for a number of terms, was appointed Director of the Mint, and served
until June 30, 1885.
I
Dr. James P. Kimball, who at the date, of his appointment was professor of economic geology in Lehigh University, was appointed Director
of the Mint July 1, 1885, and served until the date of this resignation,
October 15, 1889.
i
The duties of the office of the Director of the Mini, under the act
which established it, embrace the supervision of the work of the mints
and assay offices, the preparation of rules and regulatiops forthe transaction of business at those institutions, and the purchase of silver for
subsidiary coinage and of minor coinage metal.
i
The Director of the Mint fixes the monthly allotments of coinage,
approves or disapproves appointmentSj other than Ppesidential, and
other changes in the force of the mints and assay offices, and the rate
of compensation paid the employes,
' i
Advances of public money for the expenses of thelvarious institutions comprising the mint service, the examination • of the monthly
expense accounts of disbursements, and of the quarterly accounts of
the operations in bullion and coin, and the estimation of the value of
foreign coins, are also among the duties of the office, i
Since the passage of the act of February 28,1878, which requires the
purchase and coinage into silver dollars of silver bullion, " not less than
two million dollars^ worth per month, nor more than four million dollars' worth per month,'' the purchases of bullion for the silver-dollar
coinage are passed on and recommended by the Director, although
made by the Secretary of the Treasury,
i
All records relating to the purchase and delivery of silver bullion for
monthly coinage of standard silver dollars are kept in the Bureau of
the Mint.
•
'
^
\
The act making appropriation for sundry civil expenses of the Government for the fiscal year 1881^ provided a sum "for the collection of
184
REPORT ON THE FINANCES.
, statistics relative to the annual production of the precious metals in the
United States." The task of gathering these statistics was assigned
to the Director of the Mint, and subsequent appropriation acts placed
their collection under his direction. This task has added largely to the
work of the Bureau and necessitates the comi)ilation and publication of
an annual report. The first of the series of '' Production Eeports " was
for the calendar year 1880.
More in consequence of information sought of this Bureau by public men and committees of Congress, than by force of statutory enactment, the compilation of the precious-metal statistics of this country as
well as of the production, coinage, and movement of gold and silver in
foreign countries, has become one of the most laborious as well as important duties of the Bureau. The gathering of these statistics was
commenced by Dr. Linderman, immediately after his appointnient as
Director. They were enlarged and improved upon by his successor, Mr.
Burchard, and still further perfected l3y my immediate predecessor, Dr.
Kimball. As the compilation of these statistics has for many years .
been my special province, it will be my duty as well as pleasure, during
my official career, to bring them as near completeness as possible.
The act of March 3, 1878, making appropriations for the legislative,
executive, and judicial expenses of the Government for the fiscal year
ending June 30, 1878, allotted the sum of $500 '^ for fitting up an assay
laboratory in the office of the Director of the Mint." Under the provivisions of this and subsequent appropriation acts, a laboratory was established on the fourth floor of the Treasury building, and pieces of
each denomination of coin taken from the first and two subsequent deliveries each week of gold and silver coins delivered by the coiners to.
the superintendents of the coinage mints, are sent to this Bureau to be
tested as to weight and fineness. The laboratory has proved a valuable adjunct to the Bureau, enabling the Director to know from day to
day whether the current coinage conforms to the requirements of law.
Special examinations are also made in the laboratory, for the Treasury
Department, of coins and other material, for the purpose of detecting'
an€l preventing counterfeiting, and for customs requirements. Work
in the laboratory was temporarily suspended September, 1888, and
the coins received at the Bureau tested at the assay office in New York
City.
Mr. Cabell Whitehead, a graduate in metallurgy of Lehigh University, and who occupied a position as assayer in the mint at Philadelphia,
and more recently in the assay office at Bois6 City, was appointed assayer in the office of the Director of the Mint, and entered on duty September 25, 1889. Since his appointment the coins reserved at the mints
for monthly examination have been tested in the laboratory, and regular
work in it has been resumed.
During the period that work in the laboratory was suspened several
valuable improvements in apparatus were made, notably the introduction of two modern gas cupelling and two melting furnaces, also a new
*^Eoot" blower. The laboratory is now excellently equipped for efficient work.
The position of computer of bullion, made vacant by my appointment
as Director, has been filled by the appointment of Mr. B. F. Butler, a
gentleman well trained in the technical business of the mints, having
occupied successively the positions of weigher, assistant coiuBr, and
cashier, in the mint of the United States at New Orleans, for a period
from September 25, 1878, to June 30, 1886.
DIRECTOR OF THE MINT.
;
185
It is with pleasure that I bear testiinony to the zeal and fidelity with
which the officers and employes, constituting the present clerical force
of this office, have performed the official duties entrusted to them, and
the valuable and untiring assistance which they have rendered me in the
preparation of this report.
:
I am, very respectfully, yours,
\
EDWARD O . L E E C H ,
Director of the Mint.
Hon. W I L L I A M WINDOM,
Secretary of the Treasury,
\
\
186
EEPORT ON THE FINANCES.
APPENDIX.
I.—DEPOSITS AND PURCHASES OF GOLD AND SILVER, BY
COINAGE MINTS. '
' Description.
San Francisco.
Standard ozs.
7,581.458
Standard ozs. Standard ozs. Standard ozs.
84.476
954, 303.461 53, 785.406
GOLD.
Domestic bullion
Domestic coin
Foreign bullion
;
Foreign coin
Jewelers' bars old plate etc
Total..
Carson.
Philadelphia.
New Orleans.
6,375.621
100.098
2,492.953
3, 344.248
38, 486.201
1.137.669
98.101
177, 910.779
824.942
56, 364. 797
1,424. 265
1, 985.947
73,764.225
1,172, 224.804
53,785.406
6, 525.987
53, 785.406
6, 525. 987
Ee-cleposits:
Fine bars
5.506
Unparted bars
172, 632.211
Total gold
246,40i. 942
1,172,224. 804
18,865,620.72 .
91, 262. 61
BILVEE.
Domestic bullion
Domestic com
Trade dollars
Foreign bullion .- . .
...............
9,720, 927.32
1,690.72
119.98
5,154. 73
3.48
9.53
5, 222.57
518, 643. 90
7,261.97
3,193.87
2.43
338,329.02
227,147. 71
394. 75
13, 724.47
...H^ 19,534,750.51
610,427.15
6,028.76
10,496.81
Foreign coin
Jewelers' ba"rs, old plate etc
Total.
868,447.31
428,410.91
868,447.31
10,081,943.03
868,447.31
10,081,943.03
922,232.716
10,088,469.017
Ke-deposits:
Fine bars
Unparted bars
-
154,874.51
Total silver
19.695,653.78
Gold and silver deposits and purchases . 19,608.514.735
Ee-deposits:
620, 923. 96
1,782,651.954
,
Gold
Silver
..
172, 637. 717
160,903.27
Total gold and silver received.... 19, 942, 055.722
10,496.81
1,793,148.764
922, 232. 716 10,088,469.017
187
DIRECTOR OF THE MINT.
APPENDIX.
WEIGHT, DURING THE FISCAL YEAR ENDED JUNE 30,
1889.
ASSAY OFFICES.
!
Total.
New York.
Denver.
Bois6.
Helena.
Charlotte.
St. Ijouis.
Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs.
1, 689, 941. 871
500,409. S28
69, 616.762
12, 457. 842
50,413.255
8, 750.805
32,538.878
22, 259.125
148.481
.....
71,639.416
60, 096. 536
57.003
126,412. 974
543.788
140.029
• 133.524
71. 063
31, 447. 344
230.237
114, 837. 771
164.473
1
2, 549.281
239,051. 834
189, 554. 605
• 1
780, 817. 579
70, ZOd: 034
32,538.878
50,553.281
8.941.332
15,'372.896
2, 264, 833.425
176,117.468
176, 111. 962
307.430
357. 327
9, 584. 949
isO.548
4, 299.918
187 462.383
•
957,236.971
70, 666. 361
42,123. 827
54, 853. 202
8, 941.332
15,653.444
2, 628,413. 276
1
16, 939. 25
3, 276,859. 60
31, 507. 02
15,631.46
995. 28
1, 074. 44
1, 546.51
, 650, 237. 94
23,197.26
.
28.13
7,794.93
32,895,985.50
152. 96
i
431, 449. 01
.;744.59
1,182,110. 97
i
6, 714. 25
364, 750. 71
139. 93
55.06
l.;766. 74
558, 026. 01
31, 507.02
15, 771. 39
i , 078.47
f
10„459.22
35,439,030.45
218. 70
5,823. 99
2, 736.26
1253. 55
166, 816. 09
4, 275, 087.90
17,587.81
37, 831.01
18, 507.65
10,'712. 77
35, 627, 273. 69
5, 048,100. 819
87,678.144
64,045.898.
66, 324.674
176,419.392
357.327
9, 584.949
4, 299. 918
; 280, 548
363, 579.851
7, 804.66
218. 70
5, 823.99
2, 736. 26
1253.55
188, 237.24
79,454.837
73,360.852
314,367.49
429. 86
4,267,283.24
17, 369.11
2, 909. 08
21, 421.15
4, 895. 53
5,232, 324.871
88,254.171
1,078.47
10, 019.802 . 25,|832.116
10, 019. 802
37, 703, 869. 875
26S 366. 214 ^ 38,255,686.966
188
REPORT ON T H E FINANCES.
I I . — D E P O S I T S AND PUKCHASES OF GOLD AND S I L V E R B Y
COINAGE MINTS.
Description.
Philadelphia.
San Francisco.
Carson.
New Orleans.
GOLD.
Domestic bullion
$141,050.38
Domestic coin
Foreign coin
Jewelers' bars old plate, etc
Total
$17, 754,482. 99 $1, 000,658. 71
$1, 571. 64
118, 616.21
1,862.29
46, 380.52
62, 218.56
716, 022. 34
21,165. 94
1, 825.13
3, 309, 967. 99
15, 347. 76
1,048, 647.39
26, 497. 95
36, 947.85
31, 72, 357. 67
21, 808, 833.56
1, 000, 658. 71
121,413. 71
21,808,833.56
1,000,658.71
121,413.71
Redeposits:
Fine bars
•-.
102.44
3,211,762.06
Unparted bars ..-
4,584,222.17
Total <yold
SILVER.
•
21, 952, 722. 26
Domestic bullion
Domestic coin
.
.
.
Trade dollars
Foreign bullion
...........
Foreign coin
Jewelers' bars, old plate, etc
11, 311, 624.49
"498, 514. 51
139. 61
5, 998. 23
4.05
11.09
6, 077.17
603, 512. 90
8, 450.29
3, 716. 50
2.83
393,691.95
264,317.33
459.34
15, 970. 29
22, 731,346.00
Total
106,196. 48 1, 010. 556. 86
710, 315. 21 1,010,556.86
1,967.38
11,731,715.49
Re-deposits:
Fine bars .
...
...........
7, 015. 28
Unparted bars
180,217.61
Total silver
22,918, 578.89
Gold.and silver deposits and purchases.
24,103, 703.67
12,214.47
722, 529. 68 1, 010, 556. 86
22, 519,148. 77 2, Oil, 215.57
11, 731, 715.49
11,853,129.20
N
Re-deposits:
Gold
.
.
Silver
Total gold and silver received...
3,211,864.50
187,232. 89
27, 502, 801.06
12, 214. 47
22, 531, 363. 24 2, Oil, 215.57
11,853,129.20
189
DIRECTOR OF T H E MINT,
VALUE, D U R I N G T H E FISCAL YEAR ENDED J U N E 30,
1889.
ASSAY OFFICES.
j
Total.
New York.
Denver.
Boi86. •
Helena.
Charlotte.
St. Louis.
\
$9, 309, 944..70, $1, 295,195. 56
414,123.26
$605,374.47
$937, 921.02
$162,805.66
$231,773.80
1
1,322.10
$31,440, 778.93
4, ^83.48
2,136,516.66
1, 060.52
l,|l99,50
4,447,475. 99
2,484.17
47,428.48
3, 526,597.31
2, 762.49
1,332,826.34
1,118,075.09
2,351, 869.29
10,116.99
2,605.19
585, 066.87
1
14,526,838.68
1,308,075.04
605,374.47
940,526.21
6,647.94
178,324.63
79,998.47
166,350.35
286,007.36
3, 276,604.05
3, 276, 501.61
5, 719.63
42,136,435. 76
5,219.50
3,487,672.23
1
17, 809, 059.92
1,314, 722.98
783,699.10
1, 020, 524.68
166,350.35
291,|226.86
19,711.12
36,662. 71
18,189.32
1,158.14
9,070.45
38,278,964.79
177.99
502,049.75
1866.43
1,375, 547.30
48,900, 712.'04
i
3, 813, 072. 96
,
1,250.26
7, 812. 94
1,799.57
756, 640. 51
i'
424,437.18
32.73
26,993.17
162.83
64.07
2,055.84
649, 339.33
36, 662.71
18,352.15
1,254.94
12,1170.71
41, 238,151.29
, 6, 777.00
3,184.01
j295.04
194,113.26
20, 465. 81
43, 439. 71
21, 536.16
1,254.94
12,|465. 75
41,457,190. 97
19,492, 404. 58 1, 328,286.36
642,037.18
958,878.36
167, 605. 29
298,!l78.07
83, 374,587. 05
365,809.43
500.20
4, 965, 565. 90
20, 211. 32
24, 920. 42
5, 696.67
3, 385.11
254.49
•
4, 974, 647. 68
i
i
3,282,22L24
6,647.94
178, 324.63
79,998.47
9,081.78
254. 49
6,777.00
3,184.01
22, 783,707. 60 1,335,188.79
827,138.81
1,042,060.84
o
167,605.29
5,219.50
6, 764,276.28
295. 04
219, 039. 68
303,692.61
90,357,903.01
190
REPORT ON T H E FINANCES.
I I I . — D E P O S I T S O P U N R E F I N E D GOLD O P DOMESTIC PRODUCTION, W I T H T H E STATES
DISTRIBUTED, B Y W E I G H T , DURING T H E
1
COINAGE MINTS.
state or Territory.
Philadelphia.
San Francisco.
Carson.
New Orleans.
Standard ozs.
Standard ozs.
Standard ozs.
St andard ozs.
Alabama
11.012
Alaska
16.530
Arizona
16.145
6,439.816
453.866
12,121.126
California
68.947
168, 679.066
Colorado
201. 903
'4.078
Dakota
384.567
2,233.995
Georgia
2,094.376
Idaho
-
....
55.550
Maryland
10,180. 605
116.869
Michigan.
Montana
6.200
Nevada
1,974.264
15,816.520
53,400. 839
Kew Hampshire
jSTew Mexico
....
....
'76.280
North Carolina
118.605
1,358.276
Oregon
16,759.397
South Carolina
43.836
Tennessee
17. 092
68.331
Texas
1,467.367
Utah
165.950
68.844
WvominsT . . . . . . . . . . . . . . . .
264.990
Total unrefined
Refined
,.
Grand total
1,781.721
326.942
7, 581.458
45.846
235,388.411
53,785.406
84.476
53,785.406
84,476
718, 915.050
•
7.581.458
954, 303. 461
•^
.$*a>.
191
DIRECTOR OF T H E MINT.
AND T E R R I T O R I E S PRODUCING T H E SAME, AND OP R E P I N E D DOMESTIC B U L L I O N NOT
-FISCAL YEAR ENDED J U N E 30, 1889,
*
'
ASSAY OFFICES.
1
t
New York;
Denver.
Bois6.
Helena.
Charlotte.
.
Total
St. Louis.
Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs.
25. 753
27. 911
94i 994
i
490.423
67i 234
14,718.131
88.597
8.821
169,480. 026
' 3.126
2,813.'471
102, 792. 430
I46,62L181
5, 962. 270
19.|479
t
i.:..
1,001.365
1, 585. 482
250.028
36, 970.972
62, 798. 880
144, 359. 415
8.292
3,394.180
99. 073
1,899.191
182.895
30,123. 635
175. 815
6,456.346
5,587. 629
49, 405. 511
116.869
\
2, 912, 539
2,912.539
43, 755.579
41, 927. 787
87,663. 830
\
145.989
•
69,363.348
[•"••
. ' 14.149
16,354.875
1
3,744.946
3,120.489
204.379
702.316
2,415., 243
2,198.173
' 6.'520
14 149
8,3691755
28,664.461
*"•
I, .,
19, 876.956
^1
4, 683.144
2, 242.009
23.612
68.331
223.070
10.052
33.093
39:198
i
603.683
1, 729. 635
209. 095
2,454.248
J
593.951
920. 893
1 .
43J 525
40,975.326
286,892.582
69, 616.762
32,538.878
50,413.255
8, 750.805
213,516.946
1
•
500,409.528
69,616.762
32,538.878
50,413.255
12, 457.'842
8,750.805
12,457] 842
41,329.687
757, 509.875
932,431.996
1,689, 941.871
192
REPORT ON T H E FINANCES.
I V . — D E P O S I T S OP U N R E F I N E D GOLD OP DOMESTIC PRODUCTION, W I T H T H E STATES
DISTRIBUTED, BY VALUE, DURING THE
COINAGE MINTS.
State or Territory.
Philadelphia.
Alabama
..3
San Francisco.
Carson.
New Orleans.
$204.88
Alaska....
307.53
$300.37
$119,810. 53
Arizona
8,444.02
225,509.32
California
1,282.74
3,138,215.18
Colorado
3, 756.33
75.87
Dakota
41,562.70
Georgia
38, 965.13
Idaho
I, 033.49
Maryland
2,174. 31
$7,154.73
189,403.60
' 1
Michigan
Montana
Nevada
115.35
,
36,730.49
294, 260.84
993. 503.98
New Hampshire
New Mexico
North Carolina
1,419.16
:
2,206.60
25,270.25
Oregon
311,802.74
South Carolina. i
815. 55
Tennessee
317.99
Texas
.
Utah
:
Virginia
3,087.44
Washington
Wyoming..-.
Other sources
Total nnrefiued
1,280.82
....
33,148.30
6,082.64
4,930.05
141,050.38
Refined
Grand total
1,271.27 1
27,299.85
852.95
4,379,319.27
1,000,658.71
1,571.64 '
1,000,658.71
1,571.64
13,375,163.72
141,050.38
17,754,482.99
193
DIEECTOR OF T H E MINT.
AND TERRITORIES PRODUCING THE SAME, AND OP R E P I N E D DOMESTIC BULLION NOT
FISCAL YEAR ENDED J U N E 30, 1889.
• I'
•ASSAY O F F I C E S .
i
Total.
New York.
Denver.
Helena.
Boi86.
$479 13
$519.27
9,124.15
$29, 497. 34
$1,648.31
G87, 832. 03 1,168.351.25
58.16
154.27
1 2, 685, 756.56
$1,767.33
1
r
1,250.87
4, 651. 68
1^4.11
52, 343.65
'
362.40
1, 843.22
,
St. Louis.
Charlotte.
^35, 333.78
$560,439. 72
110,925.96
273, 825. 70
3 153,116.75
1, 912, 417.29
2,727, 835.93
103, 955. 38
63,147. 53
3,402.70
$3 270 98
120,118.06
18,630.04
919,172.29
2,174. 31
. .
54,186. 77
780, 051.85
1
54,186. 77
j
814,057.28
.•
2,716.07
•
. . 1
1
263. 24
1, 630, 954.97
1,290,480.89
263. 24
°
304, 276.75
69, 673.41
155,716.37
58,055.61
3,802.40
13,066.34
44, 934.75
.1
1
40,896.24
121.30
(1
4,150.14
729.26
^
615.68
^
187.01
11,23L31
'
. . i. . .
11,050.25
533, 292. 29
87,128.26
369,803.83
41,711.79
439. 29
1, 271. 27
32,179. 25
3, 890.13
45 660 43
17,132.89
t
762,33L65
5, 337, 536.40
1, 295,195; 56
605,374.47
937, 921.02
162,805.66
809.77
768, 924. 42
231, 773.80
14,093,206. 91
3, 972,408."30
17, 347, 572. 02
^
9, 309, 944. 70 1, 295,195. 56
F I SlU
-13
605,374.47
937, 921. 02
162,805. 66
231,773.80
31,440, 778.93
194
REPORT ON T H E FINANCES,
v . — D E P O S I T S OP U N R E F I N E D SILVER O P DOMESTIC PRODUCTION W I T H THE STATES
DISTRIBUTED, B Y W E I G H T ; DURING T H E
^
COINAGE MINTS.
State or Territory.
Alabama............................
Alaska
.
California.
. . . .
.
.... ..................
Philadelphia.
San Francisco.
Carson.
New Orleans.
Standard ozs.
.89
Standard ozs.
Standard ozs.
Standard ozs.
5.96
1,176.33
298.44
3,077.95
7.17
22,590.21
1.94
Colorado
]38.47
Dakota
165.32
Georgia . . ^ . . . . . . . . . . . . . . . . . . . . . . . . . .
187.14
Idaho
6.65
Marvland
.
. . . . . . . ..'. . . .
Michi'^'an . . . . . . . . . . . . . I . . . . . . . . . . . . . '
Montana
^ ........ ...........
Nevada
..
,
97.49
3, 070.38
.83
4,091.93
65.31
. .....................
150.73
•
57,801.58
0
868, 349.82
New Hampshire
New Mexico
......................
North Carolina
Orecron
.
....
2.73
44.02
539.15
1,593.88
.. . . . . . . . ' . . . . . . . .
2, 770.25
•
South Carolina
7.69
Tennessee
1.01
........................
2,103.88
Texas
Utah
284.32.
12.28
Washinsrton
9.61
281.17
31.99
Other
i
Total unrefined
Refined
Grand total
68.66
13.73
6,694.96
91,262.61
^
868,447.31.
18,865,620.72
2,643.03
9, 718,284.29
18, 858,925. 76
91,262. 61
868, 447.31
9,720,927.32
195
DIEECTOB OF T H E MINT.
AND TERRITORIES PRODUCING T H E SAME, AND OP R E P I N E D DOMESTIC BULLION NOT
F I S C A L YEAR ENDED J U N E 30, 1889.
I
ASSAY O F F I C E S .
New York.
Denver.
Bois6.
' .
1
Helena.
Charlotte.
Total.
St. Loiuis.
1
Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs.
7.20
30.33
Standard ozs.
38 42
,20.63
11,761.93
1,182.29
7,959.07
405.84
52.47
18,655.67
15,644.97
27,688.41
L50
n.84
; 1.74
22,760.92
1.93
1,272.67
35,715.65
20, 607.10
1 3.76
27 858 99
138.13
56,074.68
229.77
10.66
47.20
31, 098. 77
427 57
1,107.45
i
55,192. 01
83
. V
59,283.94
j
14,358.79
264,019.63
278,594.46
\
25.09
926,176.49
1
.75
138, 351.67
•
!
656.18
2L13
147. 73
75
6, 318.16
491.72
145.747.45
2 271.19
1
408.25
3,326.23
j
102.13
109 82
.
1
1.01
-1
j 5.34
382.89
L49
I5L45
13.77
(
442.23
1
232 28
" ' 1 4.17
59,747.77
16,939.25
672 55
j
200. 29
592, 715.81
2,103.88
31,507.02
15,63L46
995.28
7,|794.93
2, 684.143.79
59 834.33
1,634, 631. 66
31, 261,353. 84
i *
3, 276, 859.60
16, 939. 25
31, 507.02
15,63L46
995.28
7, 794. 93
32, 895,985. 50
196
REPORT ON THE„ FINANCES.
V I . — D E P O S I T S O P U N R E F I N E D S I L V E R OP DOMESTIC PRODUCTION, W I T H THE STATES
DISTRIBUTED, B Y VALUE, DURING T H E
COINAGE MINTS.
state or Territory.
Philadelphia.
Alabama
Alaska
Caliromia
San Francisco.
Carson.
New Orleans.
$1.03
........
6.93
..............
.
....
Colorado
Dakota
*
$1, 368.82
347.28
3, 581.61
8.34
26, 286. 79
161.13
2.26
$113.44'
192. 37
Georgia:
217.76
Idaho
6.57
Maryland
3,572.81
.97
Michigan
-
4, 761.51
Montana
76.00
Nevada
;.
-..
175. 39
67, 260. 02
1,010,443.42
New Hampshire
New Mexico
....
.......
3.18.
North Carolina '.
5L22
$627.37
1, 854.69
3, 223.56
Oregon
South Carolina
8.95
1.18
Tennessee
Texas
.
.
2,448.15
>
330.84
"Utah
14.29
W ashin srton
WvominsT
.
...
.
.
Other
Total unrefined
Refined
Grand total
11.18
327.18
37.22
...
•—
79. 90
15.98
7,790.48
106,196.48
1, 010, 556.86
21, 952, 722. 26
3, 075.52
11,308, 548.97
21,944;931.-78
106,196.48
1, 010, 556.86
11, 311,624.49
i
197
DIRECTOR OP T H E MINT.
AND T E R R I T O R I E S PRODUCING THE SAME, AND OP R E F I N E D DOMESTIC B U L L I O N NOT
FISCAL YEAR ENDED J U N E 30, 1889.
;
ASSAY OFFICES.
,
Total.
New York.
Denver.
Bois6.
Helena.
Charlotte.
St. Louis.
$8.38
^
$9, 261.40
21,703.41
18, 205.05
32, 219.25
1.75
. . '.' .24.|01
2.I02
26,485.43
2.25
l,48oj92
1
4.i38
1
41, 560.02
160.|73
65, 250.52
267.37
$36,187.66
1, 288.66
•
\
16, 708.40
1
29.19
7, 352.;04
763.55
171.90
324,182. 63
3, 870.51
127. 79
i
' ,
\
•
1.18
i
1
445. 55
2,448.15
•
6.;2i
1.73
176.23
782.60
!
16. 02
.'1
514.59
270. 29
233. 07
'
69, 524. 08
19,711.12
169, 597.02
2,642 83
475.05
118.84
36, 662.71
18,189.32
4.185
1,158.14
9,070.|45
69, 625.41
1,902,116. 74
36, 376, 848.05
3,123, 367. 30
3,813,072.96
68, 984. 94
.87
•
572.18
24.59
689, 705.66
497.53
1, 077, 732. 63
.87
160, 991. 03
32,417. 75
. 97
1-
64, 223.43
C07, 222.84
13, 686. 61
$13. 78
12.40
54.92
$44 70
1, 375. 75
$472. 25
01.06
23, 979.17
$35.29
^
19, 711.12
36, 662.71
18,189.32
1,158.14
9, 070.45
38, 278, 964. 79
198
REPORT ON T H E FINANCES.
VII.—BARS OP GOLD AND S I L V E R MANUFACTURED, B Y
COINAGE MINTS.
Description.
Philadelphia.
San
Francisco.
Carson.
New
Orleans.
Standard ozs.
37,298.015
Standard ozs.
Standard ozs.
Standard ozs.
7.339
GOLD.
Fine bars
^
Mint bars
Standard bars
Sterling bars
Unparted bars
^
Total gold
..
.
.
.
37,298.015
37.488
37.488
7.339
SILVER.
Fine bars
Mint bars
Standard bars
Sterling bars
Unparted bars
9,607.25
.-
567, 920.38
882,792.03
. 567,920.38
882, 819.68
...
Total silver . . . . . . . . . . . ' . . . . . .
\
9. 607.25
27.65
-
VIII.—BARS OP GOLD AND SILVER MANUFACTURED, B Y
"V
COINAGE MINTS. •
Description. /
Philadelphia.
San
Francisco.
Carson.
New
Orleans.
if
1
GOLD.
$693,916.56
Mint bars
Standard bars
Sterling bars
Unparted bars
.
$130. 54
..................
.
............
"
$697.45
693,916.56
Total o-old
697.45
136.54
SILVER.
Fine bars
.
Mint bars
Standard bars
Sterling bars
T^parted bars
...................
11,179.34
660,852.80
I, 027, 248.90
11,179.34
660.852.80
1,027,28L07
705,095. 90
660,852.80
I, 027, 978. 52
.•
Total silver
Total value gold and silver...
32.17
•
136.54
199
DIRECTOR OF T H E MINT.
W E I G H T , DURING FISCAL YEAR ENDED J U N E 30, 1889.
ASSAY O F F I C E S .
1
'
1
Total.
1
^New York.
Denver.
Bois§.
Helena,
Charlotte.
St. Louis.
i
Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs. Standard ozs.
904, 604. 735
867, 299.381
1
92, 886.300
92, 886. 300
r
1
5,648.M4
45.476
70, 666.361
42,123. 827
54, 853. 202
8,941.332
15, 653J 444
5, 648.114
192, 321.130
965, 879.271
70,666. 361
^ 42,123.827
54, 853. 202
8,94L332
15, 653! 444
1, 195,460.279
1
1
'
4, 080, 787.88
108, 643.63
30,439.50
5, 541,107.54
108, 643.63
;
.^'
i
322.44
17, 587.81
37, 331. 01
18, 507.65
1, 078.47
10,712.77
30,439.50
85, 567. 80
4,220,193.45
17,587:81
37, 331. 01
18, 507. 65
1,078.47
10, 712.77
5, 765, 758.47
•
VALUE, DURING FISCAL YEAR ENDED J U N E 30, 1889.
•
.
•
•
-
•
ASSAY O F F I C E S .
'
New York.
. Denver.
Boise.
;
.
f
!
Helena.
Charlotte.
Total.
St. Louis.
i
=
1
$16,135,802.44
1, 728,117.21
105, 081.19
• 846.06 $1,314, 722. 98
17, 969, 846.90 1, 314, 722.98
$783,699.10 $1, 020, 524.68
783, 699.10
1, 020, 524.68
$16,829,855.54
1, 728,117.21
$166, 350.35^
$291, 226.86
105, 081.19
3,578, 067. 48
166, 350.35
291, 226.86
22,241,12L42
1
4, 748, 553.17
• 126,421.67
35, 420.51
I
V
.
1
6,447,834.21
126,421. 67
35, 420. 51
375.20
20,465. 81
43, 439.71
21, 536.16
1, 254. 94
12, 465. 75
99, 569. 74
4, 910, 770. 55
20, 465. 81
43,439.71
21, 536.16
1,254. 94
12,465. 75
6, 709, 246.13
22,880,617.45 1,335,^88.79
827,138. 81
I, 042, 060.84
167, 605.29
303,692.61
28, 950,367. 55
200
REPORT
ON THE
FINANCES.
IX.—COINAGE E X E C U T E D AT T H E M I N T S OF THE
PHILADELPHIA..
Value.
Pieces.
SAN
UNITED
FRANCISCO.
Value.
Pieces.
GOLD.
Double-eagles .Eag'Ies
Half-eaffles
Til ree d o l l a r s '
Quarter-eagles
Dollars
83, 094
26. 345
18, 265
55
33, C66
6,075
$1,661,880.00
263, 450.00
91, 325. 00
165.00
84,165. 00
6, 075. 00
872, 350
590, 7U0
900
$17,447, 000. 00
5, 907. 000. 00
4, 500. 00
167,500
2,107, 060. 00
1, 463, 950
23, 358, 500.00
21, 385, 860
21, 385. 860
108,000
-
'
.
.--
T o t a l gold
SILVER.
Dollars
'
108, 000. 00
3
Subsidiary:
Hal f-dollars
Quarter-dollars
Dimes
.'
*
12, 860
10, 860
4,450, 860
6,430. 00
2,715.00
445, 086, 00
. 448,000
1, 554, 554
2, 002, 554 -
267,455.40
2,110,554
375, 455.40
3, 574, 504
23, 733. 955.40
112, 000. 00
155, 455.40
Q
Total subsidiary
.<>.
Total silver
4, 474, 580
454, 23L00
25,860, 44U
21, 840,H)91. 00
9, 780, 410
4.410
41, 732,041
489, 020. 50
132. 30
417, 320.41
MINOR.
"Five c e n t s
Three cents
One c e n t
i
T o t a l m i n o r .•-..
.................
T o t a l coinage .>
51,516,861
906, .473. 21
77, 544, 801
24,853,624,21
X.—COINAGE E X E C U T E D AT THE M I N T S OF
PHILADELPHIA.
Pieces.
GOLD.
FRANCISCO.
' Pieces.
Value.
-
Double-eagles
..................
Eagles
....................i-i.......
Half-eagles
.•
•.
T h r e e dollars
..
. . .
Quarter-eac^les. •. . . . . . i . . . . . . . . . .
D o l l a r s .T.
'.
T o t a l gold .
Value.
BAN
THE
..'..............
859, 600 $17,192, 000.00
6, 487, 000. 00
648,700
1,469, 500. 00
^ 293, 900
226, 266
1H2, 996
18,296
5,291
• . 10, 098
; 16, 080
$4, 525, 320. 00
1, 329, 960. 00
9i; 480. 00
15, 873. 00
40. 245.00
16, .080.00
415,027
6, 018, 958. 00
1, 802,200'
19,183, 833.00'
657, 000
657, 000. 00
304, 000. QO
172, 000. 00
:
25,148, 500.00
SILVER.
19,183,833
Dollars
Subsidiary:
Half-dollars .^
Quarter-dollars
Dimes...
T o t a l stibsidiary ^.
;.
Total silver
MINOR.
P i v e cents
T h r e e cen ts
One c e n t
12,833
10, 833
5,490, 487
6, 416. 50
2, 708.25
549, 648. 70
1,216,000
1, 720, 000
5, 520,153
558, 773.45
2, 936, 000
476, 000, 00
24,703,986 . 19,742,606.45
3,593,000
1,133,000.00
5,395, 200
26, 281, 500. 00
*
^.
j
10, 720, 483
41, 083
37,494,414
'
536, 024.15
' 1, 232.49
, 374,944.14
Total minor
48, 255, 980
912, 200.78
T o t a l coinage
73, 374, 993
26.673,765.23
201
DIRECTOR OF THE MINT.
STATES DURING THE FISCAL YEAR ENDED J U N E 30,
CARSON.*
Pieces.
1889.
• TOTAL.
NEW ORLEANS.
Value.
Value.
'Pieces.
•> J r »
Value..
Pieces. '
955,'444624,.i880
19,!l65
i 55
33, 666
6,|075
$19,108 880.00
6, 248. 800. 00
95 825 00
165. CO
84 165.00
6, 075.00
7,835
$78,350.00
7, 835
78, 350. 00
l,639,j285
25, 543, 910; 00
12, 300, 000
12, 300,000. 00
33,793,'860
33, 793,860. 00
1
•
' 12,;860
458,; 860
6, 005,^414
.
6,430. 00
114,715.00
600,541.40
6,477,: 134
721, 686.40
40,270,i994
34, 515, 546.40
9,780,UlO
4,1410
41,732,1041
489, 020.50
132.30
417,320.41
0
12, 300, 000; 00
12,300,000
'
'
,
.
12,307,835
12, 378, 350.00
85.
U N I T E D S T A T E S D U R I N G T H E C A L E N D A R Y E A R 1888.
51,516i861
906.473. 21
93,427,il40
60, 965, 929. 61
1
i
I
•
9
CARSON.*
Pieces.
Value.
NEW ORLEANS.
Pieces.
21,335
Value.
$213,350.00
•
. T J T f
21, 355
213, 350.00
12,150,000
12,150,000.00
1 TOT
^AL.
Pieces. |
Value.- ,
1,085; 866
803- 031
312i 196
5|291
16; 098
16! 080
$21, 717, 320.00
.8.030,310.00
1,560,980.00
15, 873.00
40, 245. 00
16, 080.00
2, 2381 562
31, 380,808.00
31,990-835
31, 990, 833.00
1
I2I 833
1, 226, 833
7, 216; 487
8,456,153
6,416.50
306,708.25
721,648.70
1, 034, 773.45
1
12,150, 000
12,171,335
12,150,000.00
12, 363, 350. 00
* Coinage suspended March "8,1885.
40,446, 986
33 025 606.45
10, 720,483
411,083
37,494,414
536, 024.15
1,232.49
374,944.14
48,255,980
912, 200.78
90, 94i, 528
65, 318, 615. 23
202
REPORT ON T H E FINANCES.
X L — E A R N I N G S AND E X P E N D I T U R E S OF T H E U N I T E D STATES M I N T S
EAKNINGS
MINTS.
Items.
San
Philadelphia. Francisco.
New Orleans.
Charges for parting and refining
$19,662.23
$32, 740.90
42L 75
1,966.49
7.12
5, 930,450. 75
27, 626. l i
3,411, 985.34
12, 578. 31
20,409.34
Charges for alloy
Carson.
$908.61„ $20,868.51 1
97.61
Charges for assaying, melting, and stamping
Seigniorage on standard silver dollars
Seigniorage on subsidiary silver
751, 955. 32
Seigniorage on minor coins
2,037.66
Profits on sale of medals and proof coins
Keceipts from assays of bullion
150. 00
Deposit melting-room grains and sweepings
Surplus bullion returned by operative officers... . ^
1, 617.89
754. 02
265. 59
237.18
217.70
8,581. 88
403.83
3,292.94
Gain on bullion shij)ped mint for coinage
849. 74
Proceeds of sale of old material
Peceipts from sale of by-products
'
2,453.46
168.39
2,010.25
TotaL.
-
6,719,94L35
94, 257. 38 3, 413, 570.49
26, 949. 70
EXPEJ^DITUEES
1
Salaries of oflicers and clerks
Wages of workmen and adjusters
$41,434.51
$41,100.00
$31, 893.45 $19,450.00
433, 067.19
176, 558. 34
137, 757.62
68,867.80
37, 566. 54
31,742.42-
Contingent expenses, less amount paid for wast43, 847. 61
10, 514. 57
24, 660.38
Parting and refining expenses, less amount paid
Was tardea of thfl onerative denartments
ExTiprise of diatribntinsr silver dollars
9, 983.33
51,124.91
252. 77
. ..
6, 559. 35
1,633.81
7, 878.15
4, 567.47
3, 478. 61
2, 488.73
.. ..
25, 817. 84
218:94
*39,102. 07
997. 05
200. 34
Expense of distributing subsidiary silver coins..
23,441.04
Minor-coinage metal wasted
.
.
. .......
.
2, 571. 62
cr
Total
..
-
617, 307.20
311,88L49
263, 220.40
86, 367.37
* The expense of distributing silver dollars at Kew Orleans was $7.95 more, but there was a repayment of this amount during, the year on account of overpayments in the expense of distributing silver
dollars in the fiscal year 1888.
203
DIRECTOR O F T H E MINT.
AND ASSAY O F F I C E S F O R THE FISCAL YEAR ENDED J U N E 30,1889.
I
AND GAINS.
'
;
ASSAY O F F I C E S .
i
Total.
New York.
Denver.
Bois6.
Charlotte.
Helena.
St. Louis.
$56, 575. 66
$130, 755.91
934.26
•
$1, 728.37
$1, 024.43
$227. 96
3, 427. 23
I
?
4,632.62
$377.76'
$1,274.10
9, 370, 062.20
;
^ /
i
'
i
32, 987. 65
751, 955. 32
780.00
20.00
3,385.49
1,998.17
211. 50
243. 00
124.72.
36.00
: 26.00
1, 057. 21 -
|ll8.52
2, 037. 66
1,466.50
9, 558. 79
12, 768.17
25, 264. 52
1, 777.64
556.81
24. 50
72.00
208. 59
474.25
: 407. 03
1, 403. 48
4,619.21
3,808.78
32.10
1
9,114. 83
11,125. 08
t
83,767. 00
5,548.68
1,989.46
945.21
10, 351, 70L 47
j 929. 31
3, 802. 89
j
AND LOSSES.
$10, 890.40
$3, 200. 00
$2, 750. 00
$7,699.93
$3i 500. 00
$201,168.29
23, 098. 00
12,988. 50
5, 637.18
1,140.75
11, 832. 75
li 307.45
835, 730. 20
7,092.01
2,409. 27
3, 350.14
856. 59
3, 730.27
1960.61
179,195.41
$39,250.00
j
!
76,622.94
,
162, 644. 33
16, 071. 31
15, 468. 89
4, 934. 08
65,138. 85
;
•
.
i
(
38.27
151, 635.30
1
26, 288.17
12,187.32
4, 747. 34
23, 262.95
1,197. 39
23,441. 04
.5|768.06
2, 571.62
38.27
1, 502, 665. 60
204
R E P O R T ON T H E FINANCES.
X I I . — S E I G N I O R A G E ON THE COINAGE OF S I L V E R
DR.
1888.
J u l y l . Balance on hand:
Philadelphia.
SanFrancisco
Now Orleans
/
•
Seigniorage on silver dollars:
Philadelphia
San Francisco
1
NbwOrleans
Seigniorage on subsidiary silver:
Philadelphia
SanFrancisco
,
Total
.
....':
$46,366.48
74,049.26
21,674.71
$142,090.45
'.:.
.:
5, 930, 450.^J5
27,626.']1
3,411,985.34
•
9,370,062.20
'
12,578.31
20,409.34 ,
32,987.65
9,545,140.30
205
DIRECTOR OF T H E MINT.
*AND D E P O S I T I O N OF SAME DURING T H E FISCAL YEAR
1889.
CR.
Paid expenses o'f distribution:
Philadelphia
SanFrancisco
New Orleans
^
<•
$26,814.89
;
419.28
I 39,102.07
—'•
,—
|
i 5,797.52
j 9,450.79
—I
I
,
.-
Paid on account of wastage and loss on sale of sweeps:
Philadelphia
New Orleans
•
Deposited in U. S. Treasury as follows:
PHILADELPHIA.
Warrant No.. 97
s
No. 97.....
No. 97
No. 117
No. 117
No. 117
No. 122
No. 122
No. 122
No. 122
No. 1453
No. 1454'
:
No. 1455
No.1455
15,248.31
=
I
...1
'..
.."
;$46,366.4«
, 165,000.00
I 430,000.00
; 550,000.00
,' 555,000.00
! 500,000.00
I 435,000.00
I 550,000.00
I 11,000.00
I 465,000.00
; 545,000.00
- i 520,000.00
! 580,000.00
1575,000.00
__
5,927,366.48
•
-•
•NEW ORLEANS.
Warrant No. 97
No. 97
No. 117
No. 117
No. 117
No. 122...
No. 122
No. 122
No. 1456
No. 1457
No. 1458
No. 1458
$66, 336.24
*
,
j 21,674.71
I 450,000.00
i 330,000.00
; 275,000.00
i 270,000.00
i 280,000.00
I 305,000.00
! 260,000.00
i 275,000.00
\ 300,000.00
; 310,000.00
! 290,000.60
-^,
3,366,674.71
:
,
:
.../...
SAN FRANCISCO.'
Warrant No.
No.
No.
No.
No..
No.
97
97
117.1
122
122.....'
122
> 1889.
June 30. Ba;lance on hand:
Philadelphia
SanFrancisco
New Orleans
Total
•
i
'
...i
„
..,
| 67,239.71
;
6,809.55
- f 18,000.00
I • 2,029.68 '
j
167.87
I
19.45
.-^
94,266.20
,
.
;
| *29,416.65
j . . \ 27,399.17
' *18,432.48
_4
75^ 248.30
j
^ 9,545,140.30
*These balances have since been covered into the Treasury:
Philadelphia,C. D. No. 1080
C . D . N o . 1081
n.
mp^Orleans, C. D.No. 46947
' '
i
I
^
,.*.„.«........-«..-..-.^..L
$581.26
28,835.39$29,416.65
18,432. 48
206
REPORT ON T H E FINANCES.
XIII.—ASSETS
AFD LIABILITIES
OF U N I T E D
ASSETS.
SILVER BULLION.
GOLD BULLION.
Institutions.
Standard
punces.
Value.
Standard
ounces.
Value (cost). .
COINAGE MINTS.
Philadelnhia
.
.....
1,335,771.659
$24,851, 565.49
6, 206,157.44
52, 832. 562
982, 931. 34
62, 506.93
53, 917. 24
33,482. 779
622,935.42
578,155.97
482, 605. 58
107, 718. 891
2,004,072.44
87,131.28
77,711. 84
2,010,660.904
37,407,644.44
3, 508,393. 03
3, 961,275.52
San Francisco
New Orleans
.
.
....
$6, 002, 055. 06
ASSAY OFFICES.
New York
Denver
Helena
.
.............. ....
3, 425.436
63, 729.06
825.15
728. 73
36, 924.16
899.59
773.63
9,578.87
59.23
50.86
15, 764. 37
314. 75
270.48
65, 995,145. 59
10,444, 443.37
10,579,388.94
!
Boise
Charlotte
1,984:668
......
514. 866
St. Louis . . . . . . . . . . . . . . . . . . . . . .
847. 337
Total
3, 547, 239; 102
LIABILITIES.
Institutions.
Bullion fund.
Undeposited
earnings.
COINAGE MINTS.
Philadelphia...
$56,002,052.41
San Francisco.
31, 012, 925. 28
New Orleans ..
6,511,411.77
Carson
2, 282, 000. 00
$613.10
73.79
5,755;50
ASSAY OFFICES.
New York .
72,700,544. 08
Denver
' 81,403.75
Helena
122,619.81
161.66
Bois6
61; 198.13
91.98
Charlotte ..
28,475.58
497. 92
St. Louis...
30,472.38
36.50
Total.
(Lvisr^^'^^^i^'ft'f'' •"•
168, 833,103.19
22,411.76
207
DIRECTOR O F T H E MINT.
STATES MINTS AND ASSAY O F F I C E S , J U N E 30,
1889.
ASSETS.
1
Gold coin.
Silver coin.
Minor coin.
Minor coinage
metal.
Old deficiencielM.
1
$23, 937, 886 21
4,106, 820 00
25,483,711 01
188, 060. 00
5, 236, 317. 04
202, 420.23
.3, 550. 99
*$265, 549.19
$56, 363, 767. 78
$65, 697. 33
-
$413,557. 96
61, 792.49
81,400: 00
3.00
58, 323. 00;
.68
23,586.47
5.85
19, 340. 00
,3.77
14, 474. 00
.03
37,247,917.73
54,723,271.07
31,040, 937. .55
6,529,918.04
2. 287, "55.50
!
31,312,479.53
'
'
<2
$1, 241, 014 50
Total.
•
72,743,191.98
, 75
81,403.75
L
i
i
122, 781.47
61, 290.11
,
28,973. 50
30, 508. 88
1
265, 549. 94
65, 697. 33
413,557 96
169, 290, 528. 56
LIABILITIES.
Seigniorage on
silver.
Unpaid depositors.
Minor coinage'
• profits.
Minor coin
metal fund.
Unpaid cent
depositors.
Total.
i
$29,416.65
$1, 052.20
^ $221,494. 98
f$l09,68L54
$70. 00
27, 399.17
.
$56,363, 767. 78
31, 040, 937. 55
I
18,432.48
6,529,918.04
2, 287, 755.50
1
27,466. 59
72,743,191.98
1
81,403. 75
1
122 781 47
.. ..... ......
'
i
•
61,290.11
28, 973. 50
30,508.88
t
75,248.30
28, 518. 79
221,494.98
109, 681 54
1 70 00
169, 290, 528.56
1
. * Minor coin
Currency received for coin
t Includes $65,681,54 minor coins for recoinage.
,,,,.,.
..j
i-.
$125,780.00
• 139, 769.19
265,549,19
208
R E P O R T 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 DURING T H E
FISCAL YEAR, 1889.
Names.
Gold.
Silver.'
Army Department Marksmanship
Army Division Marksmanship, First-class Prize.^..
Army Division Marksmanship, Second-class Prize..
Army Division Marksmanship, Third-class Prize...
Army Marksmanship, First-class Prize
Army Marksmanship, Second-class Prize
Army Marksmanship, Third-class Prize
Army Skirmish Prize
Bridge.
Brown Memorial
Carney
Centennial of French Eepublic
Centennial of St. John COmmandery
Corcoran Art Gallery
1
-•
Denman Grammar School .•.
Department Skirmish Prize
Distinguished Marksmen, Competition, of, First-class Prize...
Distinguished Marksmen, Competition of. Second-class Prize..
Division Skirmish Prize
—
Dodd, H. M
Franklin School
Harrison, W. H., President
Hayes, H. B., President
Ketcham, Jesse. -'
•
Life-Saving
Lincoln Grammar School
r
Maine State Agricultural Society
1
Maryland Institute
Massachusetts Humane Society
McKee (Pittsburgh Female College)
Middlesex, South, Agricultural Society
,.
New England Agricultural Society
New England Kennel Cliib
.\ —
New York State Agricultural Society
Norman
North Cosmopolitan Grammar School
Pennsylvania Horjbicultural Society
Philadelphia College of Pharmacy
.Philadelphia Rifle Club
-.
Eittenhouse, David
Rumford
.'
.i...
St. Louis Agricultural and Mechanical Society
Union League
Valley Forge
:
Vanderbilt University
Vermont State Agricultural Society
,
Vessel Owners and Captains' Association
Washington
Washington and Lee University
'
^
Watson
Wayne, Anthony
Total
24
50
18
10
1
110
81
539
Bronze.
209
DIEECTOR O F T H E MINT.
XV.—COINAGE D I E S EXECUTED AT T H E M I N T AT P H I L A D E L P H I A DURING T H E F I S CAL Y E A R ,
Denomination.
Philadelphia.
San F r a n Cisco.
2
2
2
32
20
20
N<^,w
Orleans.
Carson.
Total.
GOLD COINAGE.
D o u b l e eac^le
Efi."]e
Half-eao-le
Three-dollar
. . .
6
'*"(
1 ^
4
4
Dollar . . . T .
Total
•
40
30
22
4
4
i
14
72
6
104
2
2
60
20
10
8
100
1 150
284
2
2
100
!
SILVER COINAGE.
S t a n d a r d dollar
Half-dollar
Quarter-dollar
Dime
........
.
1
f
168
Total
'.
40
10
60
388
o 1 150
t
MINOli COINAGE.
1
1
176
11
.317
Total
..
176
11
317
1
1
504
504
1
f
TOTAL NUMBER OF DIES. ,
Gold coinage
Silver coinage
M i n o r coinage
Proof coinage..
A n n u a l assay
Life-saving m e d a l
\
i
i
i
i..
•. i.
L
.'
"^
1
•Total
XVI.-
i
100
388
504
26
1
1
1,020
- E x r E N D I T U R E S FROM SiLVER PROFIT FUND ON ACCOUNT! OF TRANSPORTATION OF S I L V E R C O I N D U R I N G F I S C A L Y E A R , 1889.
•
—
- r
TRANSPORTATION O F —
Mint and quarter.
S t a n d a r d silv e r dollars.
Mint at Philadelphia:
T h i r d q u a r t e r , 1888'
F o u r t h q u a r t e r 1888 .
F i r s t q u a r t e r , 1889
Second q u a r t e r , 1889
$1, 806. 59
9, 869. 24
11,607.91
886. 72
°.
24,170. 40
Mint at San Francisco:
T h i r d q u a r t e r , 1888
F o u r t h q u a r t e r . 1888
F i r s t q u a r t e r . i8K9
Second q u a r t e r , 1889
30.00
•.
•
Bags, boxes,
labor, a n d incidentals.
I
Total.
$108.45
009.35
238. 85
40.40
$467.88
583. 50
167. 73
428.27
$2,382.92
11 062 09
12 014.49
1,355. 39
997.05
1, 647. 38
26,814.89
5.00
5. 00
149. 50
221.78
154.50
256.78
*
t
8.00
'
8 00
371. 28
419. 28
684. 51
19,196. .^5
15, 805. 07
945. 42
410.47
1.474, 94
• 488. 75
96. 56
1,094.98
20, 671. 29
16, 293.82
. 1,041.98
36, 63L 35
2, 470. 72
38. 00
Mint at New Orleans:
T h i r d qu a r t e r . 1888
F o u r t h q u a r t e r , l.^'8S
, F i r s t q u a r t e r , 1889
' Second q u a r t e r , 1889
Subsidiary
silver.
10.00
1
FI 89
-14
39,102. 07
210
REPORT
ON
THE
FIIS^ANCES.
X V I I . — E X P E N D I T U R E S F O R D I S T P V I B U T I O N O F M I N O R C O I N S F R O M J U L Y 1, 1878, T O
J U N E 30, 18S9.
Amount
expended.
Fiscfil y e a r .
1879
1880
1881
1882."
1883
1884
1885
1886
1887
1888 .
1889
:
$1,299. 97
12,592.83
23 763 46
24, 565. 84
28, 512. 54
29,152.'32
12, 251. 98
847 17
15, 914. 55
24, 500. 78
23, 441. 04
i
.
:
--
-
-
Total
196,842.48
XVIIL—WASTAGE
AND LOSS ON SALE
OF
SWEEPS,
1889.
MINT AT—
Losses.
Philadel- San FranNew
Carson. Orleans.
phia.
cisco.
Melter and refiner's gold wastage . .
Coiner's gold wastage
Melter and refiner's silver wastage.
Coiner's silver wastage
•
Loss on sale of sweeps
Total.
Paid as follows:
From contingent appropriation
From'parting and refining appropriation.
From surplus bullion
From silver-profit fund
Total.
$3,189.13
313. 25 $1, 375. 66
139.15
119. 00
3, 056.97
4, 567.47
$24.43
1, 996. 68
5, 857. 04
2,488. 73 $4, 934.08
$3,189.13
1,713.34
2,135. 83
9, 033. 01
11, 990.28
11,126. 82 1, 633. 81
10, 366. 88 4,934. 08
28, 061. 59
2, 220. 71
1,273.00
1, 835. 59 1, 633. 81
5, 797. 52
16. 75
229. 87
669. 47 4, 934. 08
9, 450. 79
11,126.82
Total.
Ortiue.
New
York.
@FedFRASER