Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1820-02-01

Va WAlSi tliCEC Has DCCi IS-
ceiYed at the Office of the
Commissioner of the General
Land Office, Gas appears by
statement CO the sum of 2,372,574 81
Leaving outstanding at the
dates of the several returns
from the Land Districts, S1,909, $50 81
Sd. Ofthe Estimates Of the Public Rev.
enue and Expenditures for the year
1920.
In presenting the estimates for tho
year 1920, it may be proper to Observes
that, when the internal duties were re-
pealed, on the 3lst of December, 1917
the permanent revenue, including those
duties, was estimated at 5000 dol-
lars, whilst the annual authorized expen-
diture was ascertained to be less than
% 100000 dollars. The repeal of the
internal duties reduced the former to
22,o25, 900 dollars, whilst the payments
from the treasury, during the year 1879
exceeded 26,ooo,ooo dollars; and those
of the present year will, probably, fall
but little short of 25, 100000 dollars.
In the annual report of the treasury of
luC lot vi 1NOtClnOti5 ioio5 thS ~
ceipts for the present year were estimated
at .24.22o.Qon dollars Though this
| estimate will be realized in its general
result, deficiencies have been ascertained
in the customs, the internal duties and
direct tax, the bank dividends, and the
postage of letters. The deficiency which
! has occurred in the customs, internal du-
ties, and direct taxes, will probably aug
ment, in nearly the same degree, the re-
ceipts from those sources in the year
1920, by the payment of the revenue
bonds, and of that portion of the inter-
nal duties and direct taxes which, if the
accustomed punctuality had been OBJ
served, would have been received during
the present year. But it probable that
the receipts of that year will be diminish-
ed by the non-payment of the bank divi-
dends, and by the application of a portion
of the proceeds of the public lands to
the redemption of the outstanding Mis-
sissippi stock. The receipts for the
year 1920, applicable to the ordinary and
current demands upon the treasury, may
therefore be estimated at % ,ooo, 900 dol
lars, viz:
Customs, 100000 90
Public lands, 100000 90
Arrears of internal duties and
direct tax, $4,000 90
Second instalment due by the
United States Bank, 100000 90
Incidental receipts, $1,000 90
Which, with the sum estimated
to be in the treasury on the first
of January, 1920, 334,996 90
Make the amount of S22,334,9o6 80
The estimates Of the expenditure for
the year 1920 are not yet complete but
it is ascertained, from those which have
already been received, that sum not
less than 27,OoO,Oo0 dollars will be re-
quired for the service of that year. This
deficit of nearly 100000 dollars, re-
sulting from the excess of expenditure
beyond the receipts, cannot be supplied
by any application of the ordinary reve-
nue.. After paying the interest and re-
endorsement of the public debt, and
redeeming the remainder of the LOUISE
siana stock, about 100000 dollars Of
the sinking fund will remain without APP
plication, if the price of the public stocks
should continue above the prices at
which the commissioners of the sinking
fund are authorized to purchase. During
the years 1921, 1922, and 1928, the ave-
rage sum of 100000 of the sinking
fund will also remain without application,
if the price of the public stock should
prevent its purchase. Amy application
Of that portion of the sinking fund which,
on account of the price of the public
stock, may remain unemployed in the
hands of the commissioners of the sink
ing fund, to other branches of the public
service, if allowable under the provisions
of the act making the appropriation,
would only postpone the period at which
additional impositions would be required
- .z,aa4 tho >,,hl;e oxnanaifnra Such