Crawford avalanche. (Grayling, Mich.) 1879-19??, 1888-11-29
THE PUBLIC FINANCES.
UNITED STATES TREASURER JAMES
w. HYATT's ANNUAL REPORT.
Exciting Times In West Virginia Over the
Late Election Both Parties Ailege
Fraud : The German Reichstag Opened

GAciung AIhes h west virginia over tue
Late Election Both Parties Ailese
Fraud : The German Reichstag Opened
- Minor News
Washington I'd. c. speciall
United States Treasurer James w. Hyatt.
In his annual report says:
The net revenues OF the Government for
the fiscal year ended June 80. 1883 were
S379.266.O74. and the net expenditures $267.-
924.SOl; the surplus receipts avail lble for
the reduction of the public debt being SILL
Nl.273. an increase of S.S70,l76 over the
year before. AS compared with 1887 the
revenues were $7.862797 greater. and the
expenditures $7.37S less. The Trea3ury
balance increased during the year from
500. .224.379 to Sl29, ,804 ,242. and total assets.
including certificates Of deposit. from $622.-
304. .284 to S764. .729. .535. The net change OF
$6O.579.S63 in the balance was produced by
an Increase OF $37 ,526. .46S in assets and de-
crease OF $23. .O5S.394 in liabilities. The sill
yer balance fell of more than $27. .O00,OCO
The principal increase OF assets was in
United States notes and deposits In national
banks. and the principal decrease Ofliabli-
ties in the public debt and the funds for the
redemption OF national bank notes.
There was net decrease OF S74. .78S. $40 I'm
the principal OF the interest-bearing debt
The total purchases OF bonds for the sinking
fund and out OF surplus revenues were $751;
464.3OO. the net premium paid exclusive OF
accrued interest, being sS.270.842. Under
inc circular OF Aug ., 1851, interest amount
ing to 81. 1876 ,839 on and AZ per cent. bonds
was prepaid with a rebate at the rate of 2
per cent. per annum. The amount OF the
rebate was 50. 259.
Taking into account the decrease OF the
amount in the Treasury. the total increase
OF the circulation was S29. .90l, ,143. There
were issued $105, ,896. 900 OF silver certificates
and S21 947,3 1878 were redeemed The amount
outstanding increased from $145. .543. i 50 to
$229. 491.772. The increase in the actual cir
culation was 58.431.707.
The net proceeds OF the national bank
notes redeemed during the year were $685.
2f6.723. The redemptions were $l1 100000
greater than those OF the preceding year. In
the face OF reduction OF S56, 500. 900 in tho
two years in the amount outstanding. and
greater in proportion to the circulation than
those of every year save two since 1879
The redemptions from per cent funds
were $43379. 1885. and those from the funds
for the retirement OF circulation $50, 1857.
The latter fund excited much concern
early in the year. On July 3. 1888.
1t stood at S107. 1927 .754, the highest point
it has ever reached. From that time it de-
clined to $91 952 .S43 by the end of the fiscal
year. The net deposits during the year
were $44. 1884, .eS3. of which S766.585 was for
in liquidation or in the hands OF receivers.
$24, 543,501 for the reduction of the circula-
tion of banks in active existence. and S1S.-
813.797 for the retirement of old notes. TO
be replaced by new issues OF the same
amount. IL is expected that the balance I'm
this fund will continue to decrease. The
expense of bank-note redemption was SAL
14l. and the rate Of cost Sl.52 297- 900 per
$1,000 redeemed.