, 1888-11-23
SOME FIGURES.
Report Of United States Treas
urer Hyatt,
Showing the Operations of the
Treasury.
Recommendations in Regard to
Silver Coinage.

WASHINGTON, Nov. 22.-Treasurer OF
the United States Hon. James w. Hyatt
has submitted to Secretary Fairchild the
annual report OF the operations of the
treasury. The net revenues of the gov
eminent for the fiscal year ended June
30, 1888. were 1879, 266, 074, and the net
expenditures 267, 924, SOL, the surplus re-
ceipts available for the reduction of the
public debt being Sill, 341 ,273, an in
crease of 81, $40. 176 over the year before.
As compared with 1887, the revenues
were 81, 1862, 1877 greater. and the expendi-
lures 81, 1878 less. The treasury balance
has increased during the year from $69,-
224, 379 to 1929, S04, 242. and the total as
sets, including certificates of deposit in
cash, from 1922, 304, 2S4 to 1854, 729, 535.
A net change of $50, 519, 1858 in the bal
ance was produced by the increase of
$37, 526, 468 in the assets and a decrease
of 1923, 053, 304 in the liabilities. The
SILVER BALANCE
fell off more han $37, 0C0, 900. The prin-
cipal increase of assets was in United
States notes and deposits in national
banks, and the principal decrease in La
bilities in the public debt and the funds
for the redemption of the national bank
notes. There was a net decrease of $74,-
1888, 920 during the fiscal year in the prin-
cipal of the interest bearing debt. Thetotal
purchases of bonds for the sinking fund
and out of the surplus revenues were $751;
464, 300. The net premium paid, exclus-
i've of accrued interest, being $S,270, $40.
THE GoLD AND SILVER COIN
and bullion in the country and all kinds of
notes and certificates outstanding June 80,
1887, amounted to 81. 925. 25S, $50, ard
June 80, 1888. to 50, 093, 500, 072. The stock
of gold and silver increased from 81, 007,-
5l3, 90l to 81, 092, 39l, $50, mostly in gold.
The increase in the volume of paper cir
c~ulation was SS3, 424, 400, resulting from
the increase of $40, 349, $50 in the
amount of certificates, and a falling off of
$26, 1876, 554 in the total of notes and frac-
tional currency.
Some attention has been given to the
question of the probable loss or destruc-
ton of paper currency, but without any
very definite result. A table is given
showing the cause of the redemption of
the first issue of legal tender notes. Until
these notes were called in by the govern
ment or some other cause brings them TO
the treasury, the loss from destruction
mbo 10 vi q q hldINCI " hJCO
ture. A most careful estimate from the
data at hand places it at l per cent or
less, according to the denomination.
CERTIFICATES OF DEPOSIT
amounting to $24, ITO, 900 were issued for
United States notes, and SIS, 465, 900
were redeemed, leaving $l4,665, 900 out
standing. The treasurer attributes the
decrease of the use OF these certificates
s,Hoa QSe 70 tho aha0~a ~ tLo .,o,,o, &c
redeemlng them, holders now receiving
the same notes that were deposited, in
stead of new notes as formerly.
THE VOLUME OF GOLD CERTIFICATES
outstanding has increased $50, $50, 1888,
reaching $142, 023, $50, the highest point
yet noted at the end of any fiscal year.
Taking into account the decrease in the
treasury the total increase in circulation
was 500, 90l, l43.
The coinage OF silver dollars during the
year amounted to 1872, 484, 653, making
the total coinage 1929, 424, 100. The in
crease of the net distribution was only
$39, 1856. Owing to the scarcity of one
and two dollar notes and the demand for
the movement of CROPS, nearly nine
millions were drawn into circulation be-
tween May and November, 1887, but
when the notes were again to be had dol
lars came back 20 treasury as fast 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
recommends that if the purchase OF silver
is to continue the bullion be put into the
form of heavy bars or ingots. arguing that
the present supply of dollars will be sufh-
Gent for any demand there is likely to be
for them. and that any increase of certiti-
cate circulation could be based with per
feet safety on uncoined metal.
The new silver vault in the treasury
building having a capacity of
ONE HUNDRED MILLIONS OF DOLLARS,
and said to be the largest treasure vault
in the world, is being filed at the rate of
half a million a day. 1t will hold the
total coinage of three years, but at the
end of that period still further room will
probably have to be provided unless coin
age is suspended. The amount of
FRACTIONAL SILVER JOIN
in the treasury has not changed much
since the first accumulation after the re-
sumption of specie payment. The treas
urer states that the gold in the treasury is
in good condition with the exception of a
little. Many of the silver halt dol
lars are much worn, some OF them
being worn quite smooth, and it was i'm.
possible to recon these as the loss would
have been too great in proportion to the
new coinage. mostly dimes, which it was
necessary to produce.
The decrease in the amount of de-
ductments, on account of mutllatIcns
from face value of currency redeemed, and
in the number of counterfeit notes and