The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1880-12-16
Total ordinary expenditures
Leaving q surplus revenue of. 80.
Which, with an amount drawn
from the cash balance IN the
Treasury, of. !.
s,OS4,434 q
3d. 6S.0S7 Al

The amount Que the e1nk1ng-1unQ Tor tll10
thereto the sum of $73,9H,8l7. Al. being <35, :
a72,g5as8 in excess Of the actual requirements
for the year.
sources during the fiscal year ended June 30,
preceding year Of S5a,ssa, 1885,. The receipts
the estimated receipts for the remainder Of
the year, amount to &35O.OOl.0Ol which
will be sufficient to meet the estimated ex.
pendtures of the year, and leave q surplus of
1t is fortunate that this large surplus reve-
nue. occurs at q period when 1t may be directly
applied to the payment OF the public debt soon
more constantly cherished in the United States
than the policy Of paying the Nations debt as
fhe debt of the United States, less cash in
the Treasury and exclusive of accruing inter
est. attained its maximum of e. 156, Al: 43 in
August, 49, g. and has since that time been re-
ss deS has been paG snce
March !, 1S77, enecting an annual saving
Of interest Of 1910, $40; The burden Of
a SS the s sas s of Donds oea1ns
low rate of interest, and the application Of the
proceeds to the redemption of bonds bearing
higher rsts The annIsi Is, sa ", thus So
Within u short period over six hundred milf
ions of five and six per cent. bonds will be
come redeemable. This presents 9 very fa
dice the Principal & the debt but also 70 re-
duce the rate of interest ON that which will re-
main unpaid. call the attention of Congress
Secretary of the Treasury in hts annual re-
enable the Treasury Department TO complete
the refundins q the debt which 10 about to
The oontiA6arice of specie payments has not
been interrupted or endangered since the date
of resumption. 1t has contributed greatly to
the revival of business and to our remarkable
prosperity. The fears that preceded and &C
companied resumption have proved ground
notes have been presented for redemption,
while very large sums of gold bullion, both
domestic and Imported are taken to the mints
of coin and bullion in the United States since
January I, 1873, IL estimated ut $227, 39, l28.
There are still in existence. uncanceled,
SS4s Isl. Oi6 OF United states legaEtender notes.
ure, made necessary by the exigencies Of the
conflict in which the United States was then
engaged. The preservation of the Nations
existence required, in the judgment of Con-
gress, an issue of legal-tender paper money.
That it served well the purpose for which it
was created is not questioned. but the en-
niteiy, after the accomplishment Of the Oh
ject for which they were provided, was not
contemplated by the trainers Of the law
long since became like any other pecunialy
OblfgatiOn of the Governments debt to DO
paid, and. when paid, to be cancelled 40 mere
evidence of an Indebtedness NO longer exist
ing. Therefore repeat what was said In the
animal message Of last year, that the retire
with the capacity of legaltender in private
contracts, is step to be taken In our prog.
ress towards safe and stable currency. which
should be accepted Is the policy and duty OF
the Cove nment and the interest and security
Of the people,
AT the time OF the passage Of the net nov in
force requiring the coinage Of silver dollars.
fixinr their value and giving them legal-ten.
der Character, it was believed by many OF the
supporters Of the mcasA re that the silver dol.
laf. which It authorized. would speedily be.
equivalent value to the gold dollar. There
we're other supporters Of To bill, who, while
they doubted as to the probability of this re-
posed experiment fair trial, with view to
stop the coinage, II experieuce should prove