The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1888-11-29
OUR NATIONS WEALTH.
REPORT OF THE UNITED STATES
TREASURER.
An Increase of About $6O,OOO,O00 In
the Balance-The Decrease of the
Debt-The Great Amount of Gold
Certificates Outstanding.

United States Treasurer Hyatt In his an
nual report on the operations during the
year and condition of the treasury at the
close of the fiscal year ended June 30th, 1888,
reports the net revenue Of tho government
for the year $780, 266,O4 and the net expen-
ditures 267, 924, SOL the surplus receipts avail
able for the reduction of the public debt be-
ing Sll,34l,273, an increase of S7,s7O,l75
over the year before. As compared with
1887 the revenues were 81, S6!, 797 greater and
the exdenditures 81 .37s less
Treasury balance increased during the
year from 500, pa $40 to Sl29 S04, PAP, The net
change Of $50, Sol, s63 in the balance was pro-
duced by an increase of S31, SEQ, 46S in the as
liabilities. The silver balance fell off more
than S27, 600, 600 The prime pal increase OF as
sets 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 redemption of national bank notes
There was a net decrease of S74, 7SS 92o
during the fiscal year in the principal OF the
interest bearing debt The total purchases
of bonds for the sinking funi and out OF
surplus revenues were So ,4G4, 300. the net
premium paid exclusive Of accrued interest
being S,270, s 2.46 The gold and silver coin
and bullion in the country, and all kinds OF
notes and certificates outstanding on June
80 1887. amounted to 81 925, 259, $50, and on
June 80, 1888, to S2093, 562, 071. The stock
of gold and silver increased during the year
from $1,000, 5l3, 90l to 81 1902 39l, 69O.31 most
ly in gold
The increase in tho volume of the paper
circulation was S,3, 424 400 resulting from
an increase of S1l0,9l9,9 55 in the amount OF
certificates and falling off of $26 S95, 5o4 90
in the total of notes and fractional curren-
cy. The redemptions of United Sites notes
at the treasury during the year amounted to
SG3, 652 600. Since the resumption of specie
payments only s26, 736, 454 have been re-
deemed 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
denominations below $40 are being displaced
by silver certific ties, and those above sloo
largely by gold certificates.
The volume of go d certificates outstand-
ing Increased $50 $50, 1888, reaching Sl42, O23,.
$50, the highest point yet noted at the end OF
any fiscal year. Taking into account the de-
crease of the amount in the treasury, the
total increase of the circulation was so,
901, 143 There were issued S1O5, S96, OO0 OF
silver certificates mostly of the denomina-
tons of $40 and under, and S21, 1913 were
redeemed. The amount outstanding in
The '"crease in the actual circulation was
SIS 43 ,707.
IL mas been impossible to meet the demand
for the denominations Of 81 and 81, and in
consequence their issue was suspended be-
tween October IS, 1887. and February 3, 1885,
Since the latter date the treasurer has been
able most of the time 10 furnish them as they
have been asked for The coinage of silver
dollars during the year amounted to So, :
4S4 673, making the total coinage $299, 424,-
100 The increase of the net distribution was
only $50, 1876 Owing to the seal city of 81
and So notes and the demand for the move
ment of crops nearly 80 0G0, 600 were drawn
into circulation between May and November,
1887, but when the notes were again 10 be
had the dollars came back to the 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 recomm nds that
if the pun chases of silver are to continue
the bullion be put into the form of heavy
bars or ingots, arguing that the present
supply of the dollars will be sufficient for
any demand there is likely to be for them,
and that any increase of the certificate
Giro ulation could be based with perfect safe
ty on the uncoined metal. The amount of
fractional silver coin in the treasury has not
changed much since the first accumulation
after the resumption of specie payments OF
little more than S26, 600, COO held on June
80, 1885, 500 500, 600 was in half dollars and
only s., 100000 in other pieces.
The treasurer points ont that this proper
tion, which does not vary much from year
to year is excessive, and that something
like SIS, 900 in 50-cent pieces that are
not needed for circulation will doubtless
have to be Carried by the treasury until they
are recoined into other denominations or
absorbed by the growth of business.
At the close of the year the treasurer held
| SITS, $50 of United States bonds to
secure national bank circulation,
and S56, 12S,000 to secure public
moneys held by depository banks.
There was decrease during the year of Sl3,-
654 $50 in the amount of the former and an
incfease of 500, "a, 500 in the amount of the
latter Tnere was S5s,7l2,5ll of public
money he'd by the banks, an increase OF
1856 395. 63S