US Presidency
1899

The Secretary of the Treasury estimates that the receipts for the current fiscal year will aggregate $ 640,958,112, and upon the basis of present appropriations the expenditures will aggregate $ 600,958,112, leaving a surplus of $ 40,000,000. For the fiscal year ended June 30, 1899, the internal-revenue receipts were increased about $ 100,000,000. The present gratifying strength of the Treasury is shown by the fact that on December 1, 1899, the available cash balance was $ 278,004,837.72, Of which $ 239,744,905.36 was in gold coin and bullion. The conditions of confidence which prevail throughout the country have brought gold into more general use and customs receipts are now almost entirely paid in that coin. The strong position of the Treasury with respect to cash on band and the favorable showing made by the revenues have made it possible for the Secretary of the Treasury to take action under the provisions of section 3694, Revised Statutes, relating to the sinking fund.