Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-11-23
HOME AFFAIRS.
vIRGINIA'S ELECTORAL VOTE TO
BE CONTESTED.
Congressman Woodburn Robbed
Two Banks Wrecked = An
Aeronaut's Sad Fate.
ESPECIAL DIsPATcHEs TO THE RzooRD-un1oS.l
HOME AFFAIRS.
ESPECIAL DIsrArcHEs TO THE RzooaD-pslos.
a MAZE OF FIGURES.

United States Treasurer.
WASHINGTON, November 22d. - The
Treasurer of the United States, Hon. James
w. Hyatt, has submitted to Secretary Fair
child his annual report of the operations
of the Treasury Department. The net rev.
enues of the Government for the fiscal
year, ending June 80 1888, were 1919 266..
O74, and the net expenditures $267, ,924, sol.
the surplus receipts available for the reduc-
ton of the public debt being Sill, ,341, ,273,
an increase of $7.S70,176 over the year be-
fore. As compared with 1887, the revenues
were 81 .862. .797 greater, and the ,expendi-
lures $7,37S less. The Treasury balance
was increased during the year from 500.
224 379 to $129, ,S04, ,242, and the total assets
including certificates of deposit IN cash,
from S622, ,304, ,2S4 to $764, 729,5 ,535. The net
change of S60l .579, 1858 in the balance was
produced by an increase of $37. .526, ,46S in
the assets and decrease of 1913. .O53 1874 in
the liabilities. The silver balance fell off
more than $27 100000.
The principal increase of assets was in
U. s. notes and deposits in the national
banks. There was a net decrease of S74.-
7SS, 800 during the fiscal year in the princi-
pal OF the interest bearing debt. The total
purchases of bonds for the sinking fund.
ont of the surplus revenues, were S51 .464. :
300, the net premium made, exclusive of
accrued interest, being $8,270, ,s42. The
gold and silver coin and bullion in the
country, and all kinds of notes and certifi.
Gates outstanding June 80, 1887, amounted
to 81, ,925, ,259,SS2 and on June so, 1888. to
$2,O93, $500 The stock of gold and silver
increased from 81, ,007 ,513 901 to 81 092, ,391 :
$50, mostly in gold.
The increase in the volume of paper cir
culation was SS3 424. 400, resulting from an
increase of $1l0. S19, ,955 in the amount of
certificates, and falling off of S26, ,S95, ,554
in the total of notes and fractional cur
rency.
Some attention has been given to the
question of the probable less or destruction
of paper currency, but without any very
definite result A table is given showing
the course OF redemptioDs of the first issue
of legal tender notes until the notes are
called in by the Government or some other
cause brings them to the Treasury. The
loss from destruction must be more or less
a matter of conjecture. The most careful
estimates from data at hand places il at
one per cent, or less, according to their de-
nomination. Certificates of deposits
amounting to $24, 10000 were issued for
United States notes, and Sis, S,465. .0OO were
redeemed, leaving Sl4, ,665, 900 outstanding.
The Treasurer attributes the decrease of
the use of these certificates since 1886 to a
change in the manner of redeeming them,
the holder now receiving the same notes
that were deposited, instead of new notes,
as formerly. The volume of gold certit-
rates outstanding increased $50 536 333.
reaching $142, ,023 $50, the highest point vet
noted at the end of any fiscal year.
Taking into account the decrease in the
Treasury, the total increase in circulation
was $29 90l, 143. The coinage of silver
dollars during the year amounted to $32,-
4o4613 making total coinage of $299, :
424, 100. The increase of the net distribu-
ton was only $50, JOG. owing to the scarcity
of 81 and S2n and the demand for the
movement of crops. Nearly 50 GOO, GOO were
drawn into circulation between MAY and
November, 1887, but when notes were again
to be had the dollars came back to the
Treasury as fast es they had gone The
Treasurer is of the opinion that the people
have all these coins they want, or willing to
take, and recommends that If purchases of
silver are to continue the bullion will be
put into the form of heavy bars or ingots.
arguing that the present supply of dollars
will be sufficient for any demand there is
likely to be for them, and that any in
crease OF certificate circulation could be
based with perfect safety on the uncoined
metal.
The new silver vault in the Treasury
building, having capacity of $4,000 ,OOo
and said to be the largest treasury vault in
the world, is being filled at the rate of half
million day. 1t will hold the total
coinage of three years, but at the end of
that period still further storage room will
probably have 10 be provided, unless COIN
age is suspended.
The amount of fractional silver coin in
the 'VraacT1rv hos nt nh IL. -
the first accumulation after the resumption
of specie payments. The Treasurer states
that the gold in the Treasury is in good
condition, with the exception of a small
portion. Many of the silver half-dolIar
are much worn, some being quite smooth,
and 1t has been impossible to recoin these
because 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
reductions, on account of mutilations from
the face value of currency redeemed, adding
the number of counterfeit notes and coins
rejected, shows gratifying improvement
in the condition of the circulation in this
respect. AT the close of the year the
Treasurer held $17S, ,312, $50 in United States
bonds TO secure the National Bank circula-
tion.and $50, 900 to secure public moneys
held in the depository banks There was a
decrease during the year of $13,654, ,O5O in
the amount of the former, and a decrease of
S29,642,5 500 in the amount of the latter.
There was S5S 712 ,511 of public money held
by the banks, an increase of s35, 1896 ,633.
The semi-annual duty collected from the
National Banks amounted to $1.6l6127,
making an aggregate Of $l36, ,233. .S03 since
1858. The net proceeds on National Bank
notes redeemed during the year was $685.
246. .723. The reden. ptions were S11 600 600
greater than those of the preceding wear, in
the face of reduction of $50 500. 600 in two
years in the amount outstanding, and
greater in proportion TO the circulation
than those of any year, save two, since
1879.