Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1882-12-05
TREASURY REPORT.
Our Financial Standing.

WASHINGTON, Dec 4.
The Secretary of the Treasury has sub
mitted his annual report for the fiscal year
ended June 80, 1882. Ordinary revenues
from all sources for the year were S403, 90
25O 2S; ordinary expenditures for the same
period were $257 1881 ,439 81 adding S20-
1871. 694 "a, the amount drawn from the cash
balance of the treasury, makes a surplus of
Sl66 PSI sos 30 which has been applied to
the redemption of bonds. The requirements
OF the sinking fund for the past fiscal year,
including a balance of SIG, 305 ,373.47 from
the preceding year, has been fully met. 1t
is estimated thai the requirement for the
present fiscal year will be S44 ,422 ,95S %,
of which there has been applied, during the
first four months of the year, the sum OF
$3l 1876, $50. The receipts actual and esti-
mated for the present fiscal year are S4l5.-
900 900, and expenditures actual and esti-
mated 1926, 900, 900. In regard to the issue
of per cent bonds in exchange for 81 per
cents authorized by the act of Congress OF
July IL, 1882, Secretary Folger espresso.
the belief that by the plan adopted at the
department, justice has been done to all in
this exchange. The reduction in the annual
interest charge by reduction of these ex-
changes is 81 ,40l, 1913. The department
knows no reason why it should not continue
W iot thcsc VASuahsCs
so long as 81 per cent bonds remain out
standing and uncalled. There was on hand
in the sub-treasury Nov. LIST. S26, 1884. 337. 81
of fractional silver coin. In all there were
240O tons of silver coin stored in the
public vaults. Ii the coinage of standard
silver dollars is kept up and the demand for
them for circulation Is as dormant as now, II
will be q serious question where the treasury
department will find in the public receptacles
storage room for them. The amount OF
silver certificates outstanding Nov LIST, 1882
was about sos ,000, 900. The treasury holds
nearly all the standard silver dollars coined
during the year ending Nov LIST, 1882. Judg
ing from past experience we need not expect
an inc eased demand for silver dollars. 1t i,
to be looked for that the place of silver GER
tificstes will be to a great extent supplied by
gold certiscat $.
The secrets' " repeats his recommendation
that the prov sion for the coinage of a fixed
amount of standard silver dollars each month
be repealed, and the department be author
i ed to coin only so much as necessary to
supply the demand. The recommendation
is renewed for the repeal of the act requiring
the issue of silver certificates, and tor law
authorizing measures for their early retire
ment from circulation. The coinage at the
mirts during the fiscal year was: Gold,
SS2..I3.4 so; standard silver dollars,
S27 ~, 075; fractional silver coins, SILL
3l3 10; minor coins, S644, 1918; total,
Sill, SAL 1874. The coinage of gold was
nearly S1l, 200, 900 more than any previous
year in the history of the mints.
The number OF national banks organized
during the year is III, the greatest number
organized during any one year since 1872;
the number of banks in operation is 1869,
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