, 1888-11-29
London, has been offered the com mand OF
the brigade at Aldershot. This shows the
queens confidence in him has not alb lted.

child his annual report of the operations
of the treasury. The net revenues Of the
government for the fiscal year ended June
30, 1883, were $S5S, ,, 26S 6S; O5d; and the
plus receipts available for the re.
duction of the. public debt being
Sill, ,34l ,273, an increase of &7,870.l76
over the year before. As compared with
1887, the revenues were 81, ,S62, ,797 great
or and the expenditures 87378 less.
The treasury balance increased during
the year from 869, 224 ,379 to 8l29. .8O4 ,242,
and the total assets including certificates
Of deposit In cash, from e622, ,304, ,2s4 10
8764, ,729, ,535. A net change Of $780, $40,
1853 in the balance was produced by an in
crease of $37, ,526, ,468 in the assets, and q
decrease of 823 ,053, 1874 in liabilities. The
silver balance fell of more than S27 .00O,-
900. The principal increase of the assets was
in United States notes and the deposits In
the national banks, and the principal de-
crease Of the liabilities in the public debt
and funds for the redemption Of the ma
tional bank notes. There was net de-
crease of $74,78S, ,920 during the fscai
year in the principal Of the interest bear
ing debt.
The total purchases of bonds for the
sinking fund and out Of the surplus rev.
enues were $5l AGA, 800, the net premium
paid exclusive of accrued interest being
SS,270.S .S42.
The gold and silver coin and bullion in
the country and al kinds of notes and
certificates outstanding June 30. 1887,
| amounted to 81 ,925, ,259, ,SS2, and June co.
| 1888. to 50, 2,O93, ,562, ,072 The stock of cold
and silver increased from 81 ,007,5l3,9Ol
to 81 ,092, ,39l $3.50, mostly In gold.
| The increase in the volume of paper in
circulation was S83 424. 400. resulting
from1 an increa of $l1O,3l9, ,955 in the
| NH ok ~ ~, fao nd falI NJ 8
$26, ,S95, ,554 in the total of notes and frac.
tional currency. Some attention has been
given to the question of the probable loss
or destruction of paper currency, but with
out any very definite result.
| A table is given showing the course OF
redemptioRs of the drst issue of legal
tender notes. Until the notes are called
in by the government, Or some other
cause brings them to the treasury, a loss
from destruction must be more or less
matter of conjecture. A most careful es-
timate from the data at hand places it at
l per cent or less, according to the de-
nomination.
Certificates of deposit amounting to
1924, ITO, 900 were issued for United States
notes. and 8lS.465. 900 were redeemed.
leaving Sl4, 1865 600 outstanding. The
treasurer attributes the decrease ia the nse
of these certificates since 1885 to the
change in the manner of redeeming them,
the holder now receiving the same notes
as deposited, instead of new notes as for
merly.
The volume of geld certificates outstand-
ing increased $40. 1888, reaching 8l42,-
023, $50. the highest point yet noted at the
end OF any fiscal year. Taking into &C.
count the decrease In the treasury, the
total increase in the circulation was S29,-
sol, lab. The coinage Of silver dollars
during the year amounted to 49,, ,4S4, ,673,
making total coinage of 8299. 9.424, ,79O.
The increase OF the net distribution was
only $39, 1856.
Owing to the scarcity of 81 and 81 notes
and the demand nnS 20 for the movement of crops
nearly $4,000, 900 we're drawn into circula.
tion between May and November, 1887,
but when the notes we're again to be had
dollars came back to the Treasury "a fast
az they had gone out. The treasurer /,
Of the opinion the people have all Of these
coins they want or are willing TO take,
and recommends, II purchases Of silver
are to continue, bullion he put into tho
present supply Of dollars will be sutiic Gent
tor any demand there is likely
10 be for them, and that any
increase Of the certificate circulation
could be based with perfect safety on the
uncoined metal. The new silver vault in
the treasury building. having a capacity
OF 100000, 600, and said TO be the largest
treasury vault In the world, is being filled
at the rate of half million day. lt will
hold the total coinage of three years, but
at the end of that period a still further
storage room will probably have to be pro-
vided. unless coinage is suspended. The
amount OF fractional silver coin in the
treasury has not changed much since the
tirst accumulation after the resumption of
specie payment.
The treasurer states that the gold in the
treasury Is in good condition. with the px-
cception that many of the silver half dol
lara are much worn, some being quite
smooth. and 1t has been impossible to re-
coin these because the loss would have
been too great in proportion to the new
coinage, mostly dimes, which it was nee.
essary to produce. The decrease ia the
amount OF deductions on account of mu.
hlati0ns from ce value of the currency
redeemed, adding a number of counter
feit notes and coins rejected, shows graf.
Tying improvement In the condition of
the circulation in this respect.
At the close of the year the treasury
held $l78. .3l2,6SO OF United States bonds
TO secure the national bank circulation and
$56. l2S, 900 to secure public moneys held
In depository banks. There was de-
crease during the year Of $l3. .654 05O in
1926, ,642 500 in amount Of the latter. There
was S58. 1881 of public money held by
the banks, AN increase of 935. .395 1893. The
semi annual duty collected from
the national banks amounted TO
VI ,6l6. l27. making an aggregate of $780,
2:'3. SOB since 1868 The net proceeds on
national bank notes redeemed during the
year was sos, ,246, ,723 The redemptions
were I'll .OO0, 900 greater than those OF the