To the redemption of--

Bonds for the sinking fund $74,371,200.00
Fractional currency for the sinking fund 109,001.05
Loan of February, 1861 7,418,000.00
Ten-forties of 1864 2,016,150.00
Five-twenties of 1862 18,300.00
Five-twenties of 1864 3,400.00
Five-twenties of 1865 37,300.00
Consols of 1865 143,150.00
Consols of 1867 959,150.00
Consols of 1868 337,400.00
Texan indemnity stock 1,000.00
Old demand, compound-interest, and other notes 18,330.00
And to the increase of cash in the Treasury 14,637,023.93
______________
100,069,404.98

The requirements of the sinking fund for the year amounted to
$90,786,064.02, which sum included a balance of $49,817,128.78, not
provided for during the previous fiscal year. The sum of $74,480,201.05
was applied to this fund, which left a deficit of $16,305,873.47. The
increase of the revenues for 1881 over those of the previous year was
$29,352,901.10. It is estimated that the receipts during the present
fiscal year will reach $400,000,000 and the expenditures $270,000,000,
leaving a surplus of $130,000,000 applicable to the sinking fund and the
redemption of the public debt.

I approve the recommendation of the Secretary of the Treasury that