UNITED STATES, FINANCES OF THE. 



State of the Treasury. The following is a 

 statement of the condition of the public Treasury 

 on December 31, 1885, and December 31, 1886 : 



The gold coin and bullion on hand increased 

 from $253,351,409.48 to $268,128,018.47, or 

 $14,776,608.99. The gold certificates actually 

 outstanding decreased $8,143,996, making an 

 increase in the net gold actually belonging to 

 the Government of $22,920,604.99. The stand- 

 ard silver dollars on hand increased from $165,- 

 718,190 to $188,506,238, and the outstanding 

 silver certificates increased from $93,179,465 

 to $117,246,670, or $24,067,205. The silver 

 dollars not represented by certificates in circu- 

 lation fell off from $72,538,725 to $71,259,568. 

 The United States notes owned by the Treasury 

 in excess of outstanding certificates decreased 

 from $27,941,200.11 to $23,169,325.78; and 

 the total assets increased from $511,277,120.06 

 to $544,094,782.49, or a gain of $32,817,662.43. 

 The aggregate decrease in the paper circulation 

 of the country during the year from the falling 

 off in the issue of gold and silver certificates 

 was $14,767,345. The total liabilities increased 

 from $411,934,972.31 to $476,105,791.94, or 

 $64,170,819.63, the principal item of increase 

 being in the fund held for redemption of notes 

 of national banks u failed," " in liquidation," 

 and "reducing circulation." 



The following statement shows the distribu- 

 tion of the coin and currency obligations of 

 the Government at the close of the fiscal year 

 ending June 30, 1886: 



The Public Debt. The following statement 

 shows the principal and interest of the national 

 debt at the close of the calendar years 1885 

 and 1886 : 



During the twelve months ending Oct. 31, 

 1886, 3-per-cent bonds were called for re- 

 demption amounting to $127,283,100, of which 



$80,643,200 was so called to answer the re- 

 quirements of the law relating to the sinking- 

 fund, and $46,639,900 for the purpose of re- 

 ducing the public debt by application of a part 

 of the surplus in the Treasury to that object. 

 Of the bonds thus called $102,269,450 became 

 subject under such calls to redemption prior to 

 Nov. 1, 1885. The remainder, amounting to 

 $25,013,650, matured under the calls after that 

 date. In addition to the amount subject to 

 payment and cancellation prior to November 

 1, there were also paid before that day certain 

 of these bonds, with accrued interest thereon, 

 amounting to $5,072, 350, which were antici- 

 pated as to their maturity, of which $2,664,850 

 had not been called. Thus $107,341,800 has 

 been actually applied prior to the 1st of Novem- 

 ber, 1886, to the extinguishment of the bonded 

 and interest- bearing debt, leaving on that day 

 still outstanding the sum of $1,153,443,112, of 

 which sum $86,848,700 were represented by un- 

 called 3-per cent, bonds. In addition to these 

 there were also outstanding at that date $10,- 

 102,950 of called 3-per-cents which had not 

 been presented for redemption. These amounts 

 were still further reduced, on December 31, 



