For civil expenses$18,042,386.42
For foreign intercourse1,307,583.19
For Indians9,736,747.40
For pensions61,345,193.95
For the military establishment, including river and harbor improvements, and arsenals43,570,494.19
For the naval establishment, including vessels, machinery, and improvements at navy-yards15,032,046.26
For miscellaneous expenditures, including public buildings, light-houses, and collecting the revenue34,539,237.50
For expenditures on account of the District of Columbia3,330,543.87
For interest on the public debt71,077,206.79
______________
Total ordinary expenditures257,981,439.57

Leaving a surplus revenue of $145,543,810.71, which, with an amount drawn from the cash balance in the Treasury of $20,737,694.84, making $166,281,505.55, was applied to the redemption—

Of bonds for the sinking fund$60,079,150.00
Of fractional currency for the sinking fund58,705.55
Of loan of July and August, 186162,572,050.00
Of loan of March, 18634,472,900.00
Of funded loan of 188137,194,450.00
Of loan of 18581,000.00
Of loan of February, 1861303,000.00
Of five-twenties of 18622,100.00
Of five-twenties of 18647,400.00
Of five-twenties of 18656,500.00
Of ten-forties of 1864254,550.00
Of consols of 186586,450.00
Of consols of 1867408,250.00
Of consols of 1868141,400.00
Of Oregon War debt675,250.00
Of old demand, compound-interest, and other notes18,350.00
______________
166,281,505.55

The foreign commerce of the United States during the last fiscal year, including imports and exports of merchandise and specie, was as follows:

Exports:
Merchandise$750,542,257
Specie49,417,479
___________
Total799,959,736
Imports:
Merchandise724,639,574
Specie42,472,390
___________
Total767,111,964
===========
Excess of exports over imports of merchandise25,902,683

This excess is less than it has been before for any of the previous six years, as appears by the following table:

Year ended June 30—Excess of exports over
imports of merchandise.
1876$79,643,481
1877151,152,094
1878257,814,234
1879264,661,666
1880167,683,912
1881259,712,718
188225,902,683

During the year there have been organized 171 national banks, and of those institutions there are now in operation 2,269, a larger number than ever before. The value of their notes in active circulation on July 1, 1882, was $324,656,458.

I commend to your attention the Secretary's views in respect to the likelihood of a serious contraction of this circulation, and to the modes by which that result may, in his judgment, be averted.

In respect to the coinage of silver dollars and the retirement of silver certificates, I have seen nothing to alter but much to confirm the sentiments to which I gave expression last year.