The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-12-07


For miscellaneous expenditures,
including public buildings,
lighthouses, and collecting
For expenditures on account Of
the District Of Columbia....... 3.543,g12 O3
For interest on the public debt. Sz,6OS,74l Is
For premium on bonds pur- I
chaSCd................-...... l,Ool,Zao 10
Total ordinary expenditures. s260,7l2,Ss7 80
Leaving a surplus revenue OF SlOO,OG9,-
404.9S, which was applied As follows:
To the redemption Of bonds for
the sinking fund................S 74,3Tl,2OO 90
Fractional currency for the sink
Lo sH of February, is6i 74Is,99o 90
Territories OF S64 ............ 2,016,15O 90
Ftye-twenties OF 1862. 1890 90
Five-twenties OF lSG4........... 3,400 90
Fiye-twentles Of lS6j........... $1,000 90
ConsOls OF 1S65.................. 143,15O 90
Consols OF ls67............"." 959,l50 90
Consols of lSBS.................. 337AOO OO
Texas indemnity stock. .......... 1000 90
Old demSnd, compound Interest,
and other nOtes...... lSiooU w
And 10 the increase of cash in 49,
the Treasury ..............'''''- 400 f'OSo 10
Total........................ s1OO,O69,4o4 %
The requirements OF the sinking fund
for the year amounted TO 800, IS6, 064.02,
which sum included a balance of S49,SlI,-
1878 not provided for during the pre-
vious fiscal year. The sum Of S74,iS0,-
2O1.0j was applied to this fund, which left
a deficit Of 3l6, 3Oj,S73
INCREASED REVENUES.
The increase OF the revenues for 1881
over those OF the previous year was S29,-
352,90l. 10. 1t is estimated that the receipts
during the present fiscal year will reach
300. 900. 900, and the expenditures S270,-
coo, 900, leaving a surplus Of Sl30,0O0,O0
applicable to the sinking fund and the re-
demption OF the public debt.
RETIREMENT OF SILVER CERTIFICATES.
| approve the recommendation OF the
Secretary of the Treasury that provision
be made for the early retirement OF silver
certificates, and that the act requiring their
issue be repealed. They were issued in
pursuance of the policy Of the Govern
ment to maintain silver Mt or near the gold
standard, and were accordingly made re-
ceivable for all customs, taxes, and public
dues. About sG6,000,0 900 OF them are now
outstanding. They form an unnecessary
addition to the paper currency, sufficient
amount OF which may be readily supplied
by the national banks.
SILVER COINAGE.
In accordance with the act OF February
2S, 1878, the Treasury Department has
caused at least two million in value OF silver
bullion to be coined into standard silver
dollars. one hundred and two million OF
these dollars have been already coined. This
month about twcnty-fOur millions are in
circulation. FOrthe reasons which he speci-
iies concur i'm the Secretary recommended
ton that the provision for coinage OF aiiXed
amount each month De repealed, and that
hereafter only so much be coined rs shall be
necessary to supply the demand.
GOLD CERTIFICATES.
The Secretary advises that the issue Of
gold certificates should not for the present
be resumed. and suggests that the national
banks may properly be forbidden by law to
retire their currency except upon reaSona-
bile notice Of their intention 50 TO do. such
legislation would seem to be justified by
the recent action OF certain banks on the
occasion referred TO in the Secretary, re-
port.
FRACTIONAL CURRENCY, ETC.
OF the Sl5. coo. 900 Of fractional currency !
still outstanding only about $4,000 has |
been redeemed the past year. The suggcs- !
ton that this amount may properly be /
dropped from future statements OF the pub /.
lie debt seems worthy OF approval. SO, /.
also. does the suggestion Of the Secretary
as to the adyiSabiity OF relieving the calcn- |
dar of the United States Courts in the
Southern district OF New York by the
transfer to another tribunal OF The numer-
Gus suits there pending against collectors.
CUSTOMS.
The revenue from customs for the past
fiscal year was S19s, lj9, G76.02-an increase
OF S1l ,637, G11.42 over that OF the preceding
year. Sl3S,09 1929 OF this amount was
collected at the port OF New York. leaving
$50, 25l, 1868 rs the amount collected all
the other ports Of the country. or this
sum S47,977, 1888 was collected on sugar,
melado, and molasseS; 27,2S0,62hI6 on
wool and It's manufactures; S2l 49,, j4.8
on iron and steel and manufactures thereof;
SIC, OBS, Gj5.S1 on manufactures OF silk;
S10.S25, 1l5.2l on manufactures OF cotton;
50, 4G9, Gl3.04 on wines and spirits-making
total revenue from these sources Of
1888, 0jS, posi-. The expenses Of collec-
ton Tor the past year were -, ,3lj.20-
an increase over the preceding year Of
1887, 410.04.
Notwithstanding the increase in the rev.
enue from customs over the preceding
year. the gross value OF the imports, in
Guiding free goods, decreased over s2j, 000,-
00O The most marked decrease was in
the value OF manufactured wool-Sli,-
023, GS2, and that Of scrap and pig iron,
Sl2,Sl0,G7l.
The value of imported sugar, on the
other hand, showed an increase Of S1,45I,-
474; Of steel rails, S4,345,j2l; OF barley,
S2,l5i, 204, and OF steel in bars, ingOts, &c,
Sl,G20,Oi6.
EXPORTS AND IMPORTS CONTRAsTED.
COntrasted with the import, during the
fiscal year the exports were Is follows:
Domestic merchandise, SSS3, 925,04,; for
eign merchandise, SlS, 4Jl ,39O-t0tal, S902,-
7,3l6. Imports Of merchandise, SGi2,-
G6i,G2S; excess of exports over imports Of
merchandise, S2j9,7l2.7lS; aggregate OF
exports and imports, 81 ,5ij,0 ,974. Com
pared with the previous year there was m
increase OF 500, 73s, 6SS i'm the value OF eX-
ports Of merchandise, and decrease OF
S25, 29O,llS in the value Of imports. The
annual average OF the excess Of imports OF
merchandise over exports thereof for ten
wears previous 10 June 80. 1878, was Sl0i,-
1863 but for the last six years there has
been an excess OF exports over imports OF
merchandise amounting 10 sl,lSO,G6S, l0J--
an annual average OF Sl96, 1897. The
specie value Of the exports OF domestic
merchandise was S376,Gl6,i73 in 1870, and
1883. 925, 947 in lSSl-an increase OF $780,
300, i74, or 1875 per cent.
The value Of imports was 3d., 05S, los IN
1870; SG42. 1904, 1913 in ISSl-an increase OF
S206, 70G, 220, or a. per cent.
During each year from 1862 10 1879 In
elusive the exports Of specie exceeded the
imports. The largest excess Of such ex-
ports over imports was reached during the
year 1864. when it amounted 90 S9a, $50, S29;
but during the year ended June 30, 1850, the
imports OF coin and bullion exceeded the
exports by S75,s9i, 1891, and during the last
fiscal wear the excess OF imports over en-