The sum paid upon the public debt during the fiscal year ended June 30,
1886, was $44,551,043.36.
During the twelve months ended October 31, 1886, 3 per cent bonds were
called for redemption amounting to $127,283,100, of which $80,643,200
was so called to answer the requirements of the law relating to the
sinking fund and $46,639,900 for the purpose of reducing 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 November 1, 1886. 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 the interest thereon, amounting to $5,072,350, which were
anticipated as to their maturity, of which $2,664,850 had not been
called. Thus $107,341,800 had been actually applied prior to the 1st of
November, 1886, to the extinguishment of our bonded and interest-bearing
debt, leaving on that day still outstanding the sum of $1,153,443,112.
Of this amount $86,848,700 were still represented by 3 per cent bonds.
They, however, have been since November 1, or will at once be, further
reduced by $22,606,150, being bonds which have been called, as already
stated, but not redeemed and canceled before the latter date.
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