The Evening post. [volume] (Washington, D.C.) 1888-1889, 1888-11-23
UNCLE SANS STRONG BOX,
Annual Report of the Treasurer OF the
United States.


United States.
United States Treasurer Hyatt, in his
annual report on the operations during
the year and condition of the Treasury
at the close of the fiscal year ended June
20, 1888, reports the net revenue of the
Government for the year 1870, 266,074
and the net expenditures, S267, 1924 ,S0l
the surplus receipts available for the re.
duction of the public debt being, SILL
81 ,273; an increase of S7,S70,t75 over
the year before. As compared with 1887
the revenues were So, S62, 797 greater; and
the expenditures, 1913 less.
The Treasury balance increased dur
ing the year from $50 ,224, $40 to S120,-
SOL, 242. The net change of $50 .510, SB3
IN the balance was produced by an in.
crease of S37 ,526 1856 in the assets, and
a decrease of 500, 0j3, 1894 in the liabili.
ties. The silver balance fell off more
than S27 ,000,0 600. The principal increase
of assets was in United States notes and
deposits in National banks, and the
principal decrease of liabilities in the
public debt and the funds for the re-
demption of National bank notes.
There was net decrease of S74, 1885,
920 during the fiscal year in the princi-
cal of the interest-bearing debt. The
total purchases of bonds for the sinking
fund and out Of surplus revenues were
SOL ,464 800 the net premium paid, eX-
elusive of accrued interest, being SS,270,
S42.4 6.
The gold and silver coin bullion in
the country and all kinds of notes and
certificates outstanding, on June 80, 1887,
amounted to 81 ,025, 259, $50, and on June
80 1888, to $2,093 5G2,072. The stock of
gold and silver increased during the year
from $1,007 ,j13,90l to 81 ,002, 391 900
mostly in gold The increase in the
volume of the paper circulation was
S110, 1913, 955fn the amount of certificates
and a falling off of 500, S95, 554.55 in the
total of notes and fractional currency.
The redemption of United States
notes at the Treasury during the year
amounted to 1868. $50 900. Since the re-
demption of specie payments only $780,
73G, 454 have been redeemed in gold.
With the increase of coin certificates, of
which there are now more than of legal
tenders, the importance of the latter In
the circulation has declined The de-
nominations below ten dollars are being
displaced by silver certificates, and those
above one hundred dollars largely by
gold certificates.
The volume of gold certificates out
standing increased 500, 536, 1888, reachin g
$142, 023, $50, the highest point yet noted
mt the end of any fiscal year. Taking
into account the decrease of amount in
the Treasury, the total increase of the
circulation was 500, sol, 143. There were
issued $10j, 500, 900 of silver certificates,
mostly of the denominations of ten dol
I L.
| deemed. The amount outstanding in
/ creased from S145, 543, $50 to 1929 ,491 772.
/ The increase in the actual circulation
was sos, 431, 7O7. 1t had been impossible
to meet the demand for the denomina-
/ tons of one and two dollars, and in con-
sequence their issue was suspended be-
tween October Is, 1886, and February 3.
1888. Since the latter date the Treas.
urer has been able, most of the time, to
furnish them as they have been asked for.
The coinage of silver dollars during
the year amounted to S32 ,4S4 ,67S, making
the total coinage 5000, 424, 700. The in.
crease of the net distribution was only
$50, 1856. Owing to the scarcity of one
and two dollar notes and the demand fol
the movement of crops nearly nine
millions were drawn into circulation
between May and November, 1887, but
when the notes were again to be had thu
dollars came back to the Treasury as fas
as they had gone out
The treasurer is of the opinion that
the people have all of these coins they
want or are willing to take, and recon-
mend that if the purchases of silver are
to continue the bullion be put into forms
of heavy bars or ingots, arguing that the
present supply of the dollars will bt
sufficient for any demand there is likely
to be for them; and that any increase Of
the certificate circulation could be based
with perfect safety on the uncoined
metal