US Presidency
1888

The total ordinary revenues of the Government for the fiscal year ended June 30, 1888, amounted to $ 379,266,074.76, of which $ 219,091,173.63 was received from customs duties and $ 124,296,871.98 from internal revenue taxes. The total receipts from all sources exceeded those for the fiscal year ended June 30, 1887, by $ 7,862,797.10. The ordinary expenditures of the Government for the fiscal year ending June 30, 1888, were $ 259,653,958.67, leaving a surplus of $ 119,612,116.09. The decrease in these expenditures as compared with the fiscal year ended June 30, 1887, was $ 8,278,221.30, notwithstanding the payment of more than $ 5,000,000 for pensions in excess of what was paid for that purpose in the latter-mentioned year. The revenues of the Government for the year ending June 30, 1889, ascertained for the quarter ended September 30, 1888, and estimated for the remainder of the time, amount to $ 377,000,000, and the actual and estimated ordinary expenditures for the same year are $ 273,000,000, leaving an estimated surplus of $ 104,000,000.