Evening star. [volume] (Washington, D.C.) 1854-1972, 1881-12-06
s74,s71,eOo co

, 10O,C69, ,404 SO
year amounted to $50, 1861 ,O64.O2, which sum in
Guided balance of rs, not provided for
s74 sO1 O5 was applied to this fund Which left
deficit of s16,aO5 ,s7347 The increase Of the reye
nMes foT 1881 over those OF the previous year was
DUR during the present fiscal year will reach
x4OooO0O0 and the expenditures sS70 O,COO leav-
ing surplus of 100000 applicable to the sink
Ing iund and the redemption OF the public debt.
/ 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act requiring their issue be repealed They were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 at near the gold stand
ara; ana were accordingly made receivable for all
customs, taxes and public dues. About sixty-six
millions OF them are now outstanding. They form
an unnecessary addition to the paper currency,
Piled by the national banks
, In accordance with the act OF February q, 1878,
the @ Treasury Department. has, monthly, caused at
least TWO m1l1OnS In value Of silver bullion to be
coined into standard silver dollars. One hundred
and two millions of these dollars have been
aiready coined, while only about thirty -four mill
ions are in circulation.
. For the reason which he specifies, I concur in
Ine Iio secretarys M recommendation that the prov-
repealed and that hereafter only so much he
coined as Shall be necessary to supply the de-
The Secretary advises that the issue OF gold GER
uhcateS should not for the present be resumed
and suggests that the national banks may prop,
oAly NC Ioio NY law 10 TeUlre Lnc1f currency
except upon reasonable notice OF their Intention
SO to do. Such legislation would seem to be t,st-
Hed Dy Che recent action OF certain banks on the
occasion referred to in the Secretary's report.
OF the fifteen millions OF fractional currency
still outstanding, only about eighty thousand has
Deen redeemed the past year. The suggestion
that this 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
70 the advisabty of relieving the calendar OF the
Uhlted states courts In the southern district OF
the numerous suits there pending against col
lect0rs. o' WI
The revenue from customs for the past fiscal
year was s1 676G2, an increase OF si 637 AZ
over tnat OF the year preceding s13S 09S 562 80 Of
this amount was collected at the port of New
York, leaving $50,251 ,11363 as the amount col
lee TED at all the other ports of the country OF
this sum, 81, ,977, 1873 was collected on Snpar
meladO and mOlasseS; 81, ,2S5, 624.78 on wool and
It's manufactures: $21 ,462, 234 "a iron and steel
ana manu1actures thereof: $19 038, 65S1 on manu-
1actures OF silk; $10,s25, 1881 on manufactures OF
cotton; and So, ,469, ,643.04 On wines and spirits:
siss, ,oss, ,7sosi. '' '''enue 1om 'nese sources OF
The expenses OF collection for the past year were
xS.4MSS M 40 ~ an increase over the preceding year
the revenue from customs over the preceding year
the gross value OF imports, including free goods
decreased over twenty millions of dollars
Ine most marked decrease was In the value Of
scrap and pig iron, s12,S1O,67 The value of i'm
ported sugar, on the other hand showed an In
crease OF 474; OF steel rails 52: 6f bar
1,62O, ,O46. eO~'' WV
Contrasted with the imports during the last
fiscal year, the exports were as follows:
Domestic merchandise. .............. $3.50 925 947
Foreign merchandise. .................. l845I 3g9