The National tribune., 1881-12-10
slss,1@,676 OF
l35, ,&4,3S5 81
2,Dl, 1858 II
s,l16,1l5 72
s1o,ss3 80
sOs,1sO 81
I,225,5l4 8
2,244,9s3 as
262,174 90
3,46S,485 81
2,Ul6,l8 %
$50 13
$780, 81

Which was applied as follows:
ing fund 1881 200 90
Fractional currency for the sinking .und. lOs,OO1 O5
Loan of February 1861 I............... = 1900 90
Ten fortes of 1864 2Ol6, $50 Oo
Five-twentes of 1862 ... ...... IS 800 90
Five-twentes of f1S64.................... 3,4OO %
Fivetwentes of 81, 800 GO
Consos of 1865. 145, l50 OO
Consols of 1885,. $50 $50 90
Consols of 1863. 3S7, 400 90
Texan indemnity stock. ock..................- 1000 90
other notes ~ ~. ...... 1890 90
And to the increase of cash in the Treas
...., 1859, ,O2s 90
slOOO69 404 90
The requirements Of the sinking fund for the
year amount to 500, ,7s6, ,O6402, which sum in
cluded a balance of $40 9,s17 ,12S7s, not provided
for during the previous fiscal year The sum of
$74, ,4sO, ,20105 was applied to this fund, which
left deficit of SIC, 6,305, ,873.47. The increase of
the revenues for 1881 over those of the previous
year was S29, ,352 90110. 1t is estimated that the
receipts during the present fiscal year will reach
$4O0,000,000 and the expenditures $270,OO0,O 600,
leaving surplus of S130,00OO00 applicable to
the sinking fund and the redemption of the
public debt.
I approve the recommendation of the Secre-
tary Of the Treasury, that provision be made for
the early retirement of silver certificates, and
that the act requiring their issue be repealed.
THE President, next, after referring to the
coinage, and advising the passage of a law pro-
hibiting national banks retiring their circula-
tion except upon seasonable notice, goes on to
say:
The revenue from customs for the past fiscal
year was $199, ,159 67602, an increase of $11 637,
611.42 over that Of the year preceding. $685.
09S, ,562. SO Of this amount was collected at the
port of New York, leaving $50,251 1853 as the
amount collected at all the other ports of the
country Ofthis sum- S47 ,977. SO was collected
on sugar, melado and molasses; S27, ,2s5, ,6247S On
and steel, and manufactures thereof; $19,03S $685.
81 on manufactures of silk; S10,S25, ,115.21 on
manufactures of cotton and Sc 469 643 04 On wines
and spirits; making total revenue from these
sources of $133, ,05S, ,720.s1.
The expenses of collection for the past year
were Sc, ,419 34520, an increase the preceding
year of $3S7, ,41004. Notwithstanding the increase
in the revenue from customs over the preceding
year, the gross value of imports, including free
goods, decreased over twenty-five millions of
dollars. The most marked decrease was in the
value Of unmanutaetured wool. S14, ,023 6S2 and
in that Of scrap and pig iron S12,e10,671. The
value of imported sugar, on the other hand
showed an increase Of s., 1914 OF steel rails
S4345 521; of barley, s. 154 2O4: and of steel in
bars, ingots &c, 81 ,620,046.
Contrasted with the imports during the last
fiscal year, the experts were as follows:
Domestic merchandise $3.50
Foreign merchandise Is 45 399
Total ..... sO2377 s,6
Imports of merchandise 642 664 62S
Excess of exports over imports of merchan-
Aggregate of exports and 55o4 ~
Compared with the previous years there was
an increase Of 66738 6S6 in the value Of exports
of merchandise, and decrease of $25, 300. .11S in
the value of imports The annual average of
the excess OF imports of merchandise over eX-
ports thereof for ten years previous to June So
1873 was $104706, ,922 but for the last six wears
there has been an excess of exports over imports
of merchandise amounting to 81 ,1S0,669, ,105 an
annual average of S196,77S,O17. The specie
value of the exports of domestic merchandise
was 1916 6616,473 in 1870 and $3.50, ,925947 in
1881, an increase of S507 300 474 or 135 per cent
The value of imports was $435, ,958, ,4O8 in 1870
and S642, ,664628 in 1881, an increase of $685.
706,220 Or Al per cent.
During each year from 1862 to 1879, inclusive,
the exports Of specie exceeded the imports The
largest excess of such exports over imports was
reached during the year 1864, when it amounted
to S92, ,2S0, ,929; but during the year ended June
80, 1880, the imports of coin and bullion eX-
ceeded the exports by S75,891 ,39l, and during
the last fiscal year the excess of imports over
exports was S91 ,169650.
In the last annual report of the Secretary of
the Treasury the attention of Congress was called
bonds and 1903, ,573 $50 in six per centum bonds
would become redeemable during the year, and
Congress was asked to authorize the refunding
of these bonds at lower rate of interest. The
bill for such refunding having failed to become
law, the Secretary of the Treasury, in April
last, notified the holders of the $195 $3.50 400 six
per centum bonds then outstanding, that the
bonds would be paid at par on the first day of
July following or that they might be "con-
tinued" |" at the pleasure of the Government to
bear interest at the rate of three and one-half
per centum per annum.
Under this notice S055150 of the six per
centum bonds were continued at the lower rate.
and ST., $50 $50 were redeemed.
In the month Of May like notice was given
respecting the redemption or continuance of the
S439, ,S41 800 of five per centum bonds then out
standing and of these, S401 5O490O were con-
timed at three and One-half per centum per an
mum, and S3S, ,3}6 450 redeemed
The six per centun bonds of the loan of Feb
ruary s, 1861 and Of the Oregon war debt amount
ing together to $f4, ,125, ,800 having matured dur
ing the year, the Secretary of the Treasury gave
notice OF his intention to redeem the same and
such as have been presented have been paid from
the surplus revenues There have also been re-
deemed at par SIG 49, 100 of the three and one
half per centum continued" bonds ing a
total Of bonds redeemed, or which have ceased to
bear interest during the year. Of 1923 ,969,650.