The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-11-13
FINANCIAL.

The amount of fractional currency lost
and destroyed from the date of its first
issue until the present time is over $751;
100000 The largest amount outstanding
at any one time was ON the Both Of June,
1874, when il reached 1881 ,206. A COM
mission was appointed in June, 1879, to as
certain the probable amount that had been
lost and destroyed, and they estimated it
at $S,375,94 Since the estimate was made
it 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 S5,si2,GO6. 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,
O9S,6o0. The whole amount apparently
outstanding at the end of last month was
$15i7I, 40. Hence IL appears that during
the past two years and three months only
$36S, lGG of the fractional notes have been
redeemed. The smallness of the amount
that has been redeemed in that time iusti-
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 curiosities, or mementoes of the
paper-money days The amount in actual
Il, hn M lnre,a IL 10 N,,l,r
once in great while that one Of them
makes its appearance. 1t is not likely that
more than 81 100000 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. Ii may be cs-
timated that individual holders of these
notes have lost $l4S, 100000, which sum the
government, or the taxpayers of the coun'
try, have gained by the small paper money
device. The government has also gained
something by the loss and destruction Of
greenbacks, though not so much as oil the
fractionals.
The total receipts of the postoiiice de-
partment for the fiscal year ending June
80, last, were 500 1856, 397 81 an increase
over the previous year of 1913 per cent, and
over the year 1879 of 225 per cent. The ex
pendltures were $50 ,25l 1865 an increase
over the previous year of 81 per cent
and over 1879 of 1871 per cent. The
total expenditures for transportation OF
mails during the year were 81 $3.50, S98,47 an
increase over the previous year of 10 pei
cent, and over 1879 of - per cent. The cs
timated expenses ofthe postal service for the
next fiscal yearsarc $i3, 66l 300, of which the
revenue will furnish $I2, al ,722, leaving q
deficiency to be supplied by the general
treasury of $020,07S. The annual report o.
the superintendent of the free de
livery division of the post
Office department. for the yeal
ended June 30, shows that during the yeal
there were delivered 262, i25 ,6sS mail letters
69,90S, $50 postal cards, 1918, POS local let
tiers, 43,S9S, 1853 local postal cards, Zig 30I
registered letters and lag, Az lii newspapers
There was collected ut the 100 free delivery
offices during the year 2Si ,7599 i5 letters
S5T03, l35 postal cards, and 5i075,476 news
papers. The cost of the service for the
year amounted to 50, i93, 072.ll, or 3 mills
per piece,
The annual report of Treasurer Gilfllar
has strengthened the opinion that Secreta
ry Folger will soon take measures to re
lease u large amount of money from the
treasury vaults, and this encouraging the
belief that the money market will con
tinue easy, stimulates the advances il
stocks.
A nugget of gold weighing 22l penny
weights was discovered few days ago
in o cotton field seven miles east Of Grlcn
vile, South Carolina.