The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-11-17
FINANCIAL.

Tho amount Of fractional currency los
and destroyed from the date OF Its frs
issue until the present time Is over SO,
100000. The largest amount outstanding
ut any one time was on the Goth Of June
1874, when II reached $l5,sSl ,206. A com
mission was appointed in June, 1870, to as
certain the probable amount that had beer
lost and destroyed, and they estimated il
at $S, 1915, 03i. Since the estimate was made
II has been the practice of the department
to enter the whole amount apparently out
standing, and deduct the amount supposed
to have been lost or destroyed, in the
monthly debt statements. At the end Of
the month when the act referred to
was passed, the amount reported as out
standing was $5,S42, 606. The Chicago
Times says the amount redeemed under the
resumption act of 1875 up to the time of the
passage of the act of June, 1879, was $780,
OBS, 800. The whole amount apparently
outstanding at the end of last month was
| $15.474 40. Hence it appears that during
the past two years and three months only
$36S, 1G6 of the fractional notes have been
redeemed. The smallness of the amount
! that has been redeemed in that time justi-
| fies the belief that the destruction of the
notes has been greater than the commission
estimated. Undoubtedly many of them
have passed out of existence since the esti-
mate was made. Many more are held
as curosities, or mementoes of the
paper-money days. The amount in actual
circulation cannot be as large, as it is only
once in a great while that one of them
makes its appearance. 1t is not likely that
more than ST 200, 900 more will ever be pre-
scented for redemption, and in estimating
the actual liabilities of the government the
item of fractional currency may safely
be reduced to that amount. 1t may be es-
timated that individual holders of these
notes have lost $l4S, 700, 600, which sum the
government or the taxpayers of the coun-
device. The government has also gained
something by the loss and destruction of
greenbacks, though not so much as on the
| fractionals.
The total receipts of the postoffice de-
| partment for the fiscal year ending June
| so, last, were 1886, 7S5, 397 81 an increase
over the previous year of 1915 per cent, and
pendltures were $3.50, 251 ,736.45; an increase
over the previous year of 81 per cent,
and over 1879 of ISL per cent. The
| total expenditures for transportation of
mails during the year were 81 $50, S9S.47 an
increase over the previous year of 10 per
cent, and over 1879 of % per cent. The cs-
timated expenses ofthe postal service for the
next fiscal year,,are $43, 66l 300, of which the
revenue will furnish $42, 741,722, leaving a
deficiency to be supplied by the general
treasury of $020,O7S The annual report of
the superintendent of the free de-
livery division Of the post
office department for the year
ended June 80, shows that during the year
there were delivered 262, 425 SOS mail letters
s., 9GS, $50 postal cards, 1918, 20S local let
tiers, 43, S9S, 15S local postal cards, ., lD 800
registered letters and lag, Az 144 newspapers
There was collected at the 100 free delivery
offices during the year 2S4, 759,945 letters,
| So, 793, lbs postal cards, and 5i,075,476 news
papers. The cost of the service for the
year amounted to 50, 493,972,14 or 3 mills
| per piece.
The annual report of Treasurer Giltillan
has strengthened the opinion that Secreta-
nv Folger will soon take measures to re-
| lease large amount of money from the
treasury vaults, and this encouraging the
| belief that the money market will con-
tnue easy, stimulates the advances in
stocks.
A nugget of gold Weighing 22l penny
weights was discovered few days ago
| in a cotton field seven miles east of Green
vile, South Carolina.