US Presidency
1877

The estimated revenues of the current fiscal year are $ 265,500,000, and the estimated expenditures for the same period are $ 232,430,643.72. If these estimates prove to be correct, there will be a surplus revenue of $ 33,069,356.28- an amount nearly sufficient for the sinking fund for that year. The estimated revenues for the next fiscal year are $ 269,250,000. It appears from the report that during the last fiscal year the revenues of the Government, compared with the previous year, have largely decreased. This decrease, amounting to the sum of $ 18,481,452.54, was mainly in customs duties, caused partly by a large falling off of the amount of imported dutiable goods and partly by the general fall of prices in the markets of production of such articles as pay ad valorem taxes. While this is felt injuriously in the diminution of the revenue, it has been accompanied with a very large increase of exportations.