New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1881-12-14

$3,543, 912O3; for interest on the public
debt, $82,508, 741.18; for premium on
bonds purchased, $l.o61.248.78. Total or
binary expenditures, $3.50, 712,887.59, leav-
ing a surplus of revenue of 800, O69, 4O4 SO,
which was applied as follows: To the re-
demption of bonds for the sinking fund,
$74.371 200; fractional currency for the
sinking fund, $109, 001 O5; loan of Febru-
airy, 1861, $7,4l8.0OO; 1O.40s of 1864, g.
016.15O; 5.2Os of 1862. $1S,30O; 52Vs Of
1864, $3,4O0; 5.20s of 1865, $4,000. Con-
soils of 1865, $143, 10000; consols of
1867. $95, 1925. 900; consols Of 1868, $685., 400;
loan indemnity stock, 100000; old de-
mand. compound interest and other notes,
SIS, $3.50. and to the increase of cash in the
treasury, 14,636, 023.93, total 800, 069, 404-
SO.
THE REQUIREMENTS OF THE SINKING FUND
for the year amounted to 90,7S6, O64, O2,
which sum included q balance of $49, 519,-
12S.7S not provided for during the previ-
Gus fiscal year. The sum Of 81, 4SO, POI .O5
was applied to this fund, which left de-
felt Of $16,305, 873A7.
The increase of the revenues for 1881
over those Of the previous year was $780,
852,901.1O It is estimated that the re
ceipts during the present fiscal year will
reach $400, 100000 and the expenditures
$270,00O, 600, leaving surplus of $780,
100000 applicable to the sinking fund and
the redemption of the public debt.
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
<1nS,n 1,or Id
in pursuance of the policy of the Govern
ment to maintain silver at near the gold
standard and were accordingly made re.
ceivable for all customs, taxes and public
dues. About 100000 of them are now
outstanding. They formed an unnecessa-
ry addition to the paper currency; a suf-
6cient amount of which may be readily
supplied by the national banks. In &C.
cordance with the act of February q,
1878, the Treasury Department has
monthly caused at least two millions in
value Of silver bullion to be coined into
standard silver dollars; 102,OO0,OOO Of
these dollars have been coined, while only
about 100000 are in circulation, for the
reas n which he specifies.
COINAGE.
concur in the Secretary's recommend
alton that the provision for coinage of
fixed amount each month be repealed.
and that hereafter only SO much be coined
IS shall be necessary to supply the de-
mand.
GOLD CERTIFICATES.
The Secretary advises that the issue Of
gold certificates should not for the pres.
ent be resumed, and suggests that the
national banks may properly be forbidden
by law to retire their currency except up
on reasonable notice of their intention so
to do. Such legislation would seem to be
justified by the recent action of certain
banks on the occasion referred to in the
secretary's report.
FRACTIONAL CURRRHCY.
OF the fifteen millions of fractional cur
rency still outstanding, only about eighty
thousand has been redeemed the past
year. The suggestion that the amount
may properly be dropped from future
statements Of the public debt, seems
worthy Of approval; so, also, does the
suggestion of the Secretary as to the ad-
visibility of relieving the calendar of the
United States Courts in the Southern Dis.
trict Of New York by the transfer to an
other tribunal Of the numerous suits
pending there against collectors.
THE REVENUE FROM CUSTOMS
for the past fiscal year was $19,159, 676.O2,
an increase of $11 ,637, GIL 40, over that of
the preceding year; $3S, O9S, 80 Of this
amount was collected at the port of New
York, leaving $50, PSI, 11363 as the amount
collected at all the other ports of the
country. OF this sum $47,977, 137.63 was
collected on sugar. melado and molasses;
$27,283,6A.78 on wool and its manufac-
lures; 81, 462, 534.3 "a on iron and steel and
manufactures thereof; $19,O3S,665.s ON
manufactures Of silk. $10.825,1 15.21 on
manufactures Of cotton and Sc, 469, 643. O4
on wines and spirits, making the total
revenue from these sources of $133,O5S,-
72O.S1. The expenses Of collection for the
past year were $6,410. 1880, an increase
over the preceding year Of $751;, 41O.O4.
Notwithstanding the increase in revenue
from customs over the preceding year,
the gross value Of the imports, including
free goods, decreased over $25OOO,OOO.
manufactured wool, $14,023,6S2, and in
that Of scrap and pig iron, Sl2,s1O.671.
The value OF imports (sugar), on the 9TH
er hand; showed an increase Of S7.457.474.
Of steel rails s., 345, 521, of barley $2,154,-
O4, and of steel in bars, ingots, etc, $780,
O46. Contrasted with the imports, they
were % follows: Domestic merchandise,
$O.839. 2250.47; foreign merchandise, $lS,-
451 1893; total, 500, ,346. Imports Of
merchandise, $50, 664, 62S. Excess Of ex-
ports over imports Of merchandise, $59,-
712,718. Aggregate Of exports and inn
ports, $1,646, O41074.
Compared with tho previous year, there
was an increase Of $50, 738,6SS in the
value Of exports of merchandise, and
decrease OF $26,200,ll0 In the value of