Alma record. (Alma, Mich.) 1878-1928, 1888-11-30
a FINANCIAL STATEMENT
United States Treasurer Hyatt's An
nual Report.

! United States Treasurer IIyatt's An
nual Report.
United States Treasurer Hyatt in his an
/ nual report of the operations during the
year and the condition of the treasury at
! the close of the fiscal year ended June 30,
! lSSS, reports the net revenue of the govern
ment for the year 1878, Pc, GA, and the net
| expenditures 500, sol, the surplus re-
| cepts available for the reduction Of the
public debt being Sill ,34l,213, an increase
| of s., $40, l15 over the year before AS COM
| pared with 1887 the revenues were s. $50, 797
greater and the expenditures S1,37s less.
The treasury balance increased during the
! year from -, pa 379 TO sl29, o0i, 242. The
net change Of $50, 579, S63 in the balance was
| produced by an increase OF 81, $50, 46S in
! the assets and "A decrease Of 5 %, o., 1894 in
| the liabilities. The silver balance fell of
more than 81, 100000. The principal in
crease Of assets 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 net de-
| crease Of ga, 1890 during the fiscal year
in the principal Of the interest bearing
! debt The total purchases on bonds for the
| sinking fund and oct of surplus revenues
were sol ,40i 300, tie net premium paid, eX
! elusive of accrued interest, being Ss,2I0,-
| S42. 4G.
The god and silver coin and bullion in the
4 country anu dll hluuS Ol uOItS anu GtIIll-
Gates outstanding on juno 30, 1887 amount
cd 10 81 ,92j, 2j9, $50, and on June 30, 1855, 10
| s2,OJ3, 5b2,0 The stock OF gold and silver
| increased during the year from 81 ,007 BIB
| gOl 10 Sl,0.2, 39l 500 -, mostly in gold The
! increase in tho volume of the paper circu-
| lation was $50, 44, 400, resulting from an in
crease Of Sll0, 3l9, 90 in the amount of GER
tiicates and a falling off Of $40, S95, 5J4 - in
| the total notes and fractional currency. The
redemption of United STATES notes at the
| treasury during the year amounted TO SjS,
| b., 900. Since the resumption of specie
! payments only - 49, 5I have been re-
/ deemed in gold With the increase Of coin
| certificates, Of winch there are now more
| than Of legal tenders. the importance of the
| latter in the circulation has declined. The
denominations below $40 are being displac
| ed by silver Certificates, and those above
500 largely by gold certificates. The vol
umne Of gold certificates outstanding in
| creased S9D536,3 1913, reaching 5l42023, $50,
| the highest point yet noted al the end Of the
| fiscal year Taking TO account the de-
crease OF the amount IN the treasury,
| the total increase OF the cir
culation was $50. g0l, LAB. There were issued
! SlU5. $50, 600 Of silver certificates, mostly Of
| the denominations OF SO and under, and
1 al ,941.31S Were redeemed The amount
| outstanding increased from Si4j, SIS, $50 10
| S!29, 4gl, ~ The Increase in the actual
| circulation was Sjs, 43l, 107 IL had been i'm
| possible 10 meet the demand for the demon
| nations of 81 and 50, and in consequence
! their issue was suspended between October
| Is, 1857, and February 3, 1855. Since the
| latter date the treasurer has been able
most of the time to furnish them a. they
have been asked for.
The coinage of silver dollars during the
year amounted TO SPAS ,6,?, making tho
| total coinage 500, t24.fS0. The increase of
/ the net distribution was only 5 -, l5j. Ow
ing to the scarcity Of S and 81 notes and
| the demand for the movement of crops,
/ nearly S9,OU,OOO were drawn into circula-
| tion between May and November, 1887, but
when the notes were again 10 be had the
/ dollars came back TO the treasury ss fast
as they had gone out. The treasurer Is Of
/ the opinion that the people have all Of tLesc
coins they want or are willing 10 take, and
recommends thst if the purchases of silver
/ are TO continue the bullion be PIT into the
] form Of heavy bars or ingots, arguing that
\ the present sup IN OF silver dollars VIII be
sufficient for any demand there is likely to
/ be for them, aud that any in"re So Of the
! certificate circulation could be based with
! perfect safety on the unconc meta.
! The amount OF fractional silver coin in
/ the treasury has not changed much since
the first accumulat on alter the resumption
! Of specie payments. OF a little more than
! 81 go, 900 held on juno 80, lS>S, t9O,5OO.OOO
was in half dollars and only -, 100000 ia
/ other pieces. The treasurer points out
that this proportion which does not vary
much from year to year, ia excessive, aud
| that something like Sl5,OU0.OOO in fifty cent
pieces that are not needed for circulation
| will doubtless have TO be carried by the
| treasury until they are re coined into other
denominations or absorbed by the growth
Of business
At the close OF tie year the treasurer
held Sl7s, 312.GJO of the United States bonds
! 10 secure national bank circulation and
/ $50, lbs 900 to secure public moneys held by
| depository banks, There was "a decrease
during the year Of 1864, $50 in the amount
of the former and an increase of $40, $40, 500
in the amount Of the latter There was
] SJs,512,5l1 Of public money held by the
! banks, an increase Of S35, 395,633