US Presidency
1882

I of exports over imports of merchandise GuantĂˇnamo excess is less than it has been before for any of the previous six years, as appears by the following table: Year Ended June 30 Excess of exportsover imports ofmerchandise 1876 $ 79,643,481 1877 151,152,094 1878 257,814,234 1879 264,661,666 1880 167,683,912 1881 259,712,718 1882 Government. I the year there have been organized 171 national banks, and of those institutions there are now in operation 2,269, a larger number than ever before. The value of their notes in active circulation on July 1, 1882, was $ 324,656,458. I commend to your attention the Secretary's views in respect to the likelihood of a serious contraction of this circulation, and to the modes by which that result may, in his judgment, be averted. In respect to the coinage of silver dollars and the retirement of silver certificates, I have seen nothing to alter but much to confirm the sentiments to which I gave expression last year.