Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1866-12-06
Annual Report CT tERe Secretary
OF the Treasury.
NEW YoRK. My.

NEW YORK, Nov. 20.
A special to the World from Washington,
November 28th, says: The forthcoming
report of the Secretary of the Treasury on
the national finances has been completed
and printed for distribution to the country
on the day of its presentation TO Congress.
The views which it will present will not be
new, in so far as a line Of financial policy
will be laid down, yet the resume of the
facts and figures will show the national
financial situation 10 be in a much more fat
tering condition than at the opening of the
first session Of the Thirty ninth Congress,
or at the close of the fiscal J ear ending June
80, 1865.
The coming report will show that the fis-
cal year ending June 80, 1866, was one Of
great prosperity. The balance in the Treas
ury on that day stood as follows Cash on
hand June 80, 1866, $858, 800 Is; cash on
hand June 80, 1866, $13O,66 ,815.19-net
gain, $120, 81, SOC o.
The gold on hand was not estimated at a
currency value, or the balance would have
exceeded $150,00O,00O
The receipts and expenditures for the
years 1855 and '66, for the fiscal year end
ing June 80, 1856, are as follows: Receipts
from customs, in gold, $179O46, $50 Ga !;
from public bonds, 1865, 031 O3 from di-
rect tax, $1,974,75 from internal rev.
enue, $300,226, $751; and miscellaneous
sources, $65, 1875, 1864 total receipts from
all sources, 1856, 039, 1876 o. This revenue.
it is believed, exceeds in amount that of any
other nation on the globe for the sane pc
riod.
The expenditures during the same period
were as follows: civil. foreign and miscel-
laneous, $4l ,O40, Y05, 90; pensions and In
dams, SIG, 253, 500, A war, 284, 449, 701 80;
navy, $23, ,63221; interest, $.33,074,
1927 total, $518, 347, 1910.
Total receipts, 1856, O39, 1856 06. Total
expenditures, 1913, 347, 337 70. Excess of
receipts, $37 ,G91. So. This excess of
receipts all occurred during the last few
months of the fiscal year, and it is not fair
criterion of the ability of the Government
to liquidate its debt. For instance, the
war expenses for the quarter ending Sep
TENDER 30th, 1865, were $165. 600, 900, but
during the quarter ending June Both, 1866,
they were $l2,000,000.
The balance in the Treasury on June 80,
1865, was but 1858, 309.15 The year end
ing Dec 3lst, 1865, showed deficiency
in the Treasury of $619, 100000, but six
months from the time, June 80, 1866, there
was al excess OF receipts over expenditures
of nearly $4,000 coo.
The estimates of the War DEPARTING emit for
expenditures for the coming fiscal year
would be nearly $240, 000,0 less than for
1865, were it not for the eoualizing bounty
bill, passed at the last session. But the rev
enne from all sources, for the next fiscal
year, is estimated by the Secretary in the
neighborhood of $600,000,000.
The full expenditure for the next fiscal
year is estimated within S350,000,000, in
Guiding interest on the matured debt and a
fair sum over for sinking fund.
The Treasury has withdrawn from circu-
latlon during the past six months the limit
of $4,000, 900 of paper money. The total
amount of United States legal tender notes
in circulation is therefore 1886, 100000
The most important and gratifying part
Of the report will be ON the reduction Of
the public debt. 1t will be shown that the
public debt has been reduced. during the
past twelve months, fully $500 100000
The actual figures of the reduction are
1913, 637,721.
Seven millions Of compound interest
notes, legal tender for their face, have been
Cancelled, and temporary loans reduced nine
millions. The full amount Of currency au-
thorized for National Banks has been issued,
which, with the United States notes, give a
circulating medium Of nearly 800 900, 900,
not including the fractional currency. On
the first Of last November, the total, in
Guiding the fractional currency, amounted
to $732,2l8,038 20 and $95, 600, 900 Of au-
thorized National Bank notes remained I'M
issued.
The Secretary of the Treasury will not
present new plan for returning to specie
payments. He has changed none Of the
views he maintained in his last report. He
believes the Secretary Of the Treasury
should have power to control the currency
to the extent of being authorized at his dis
erection to sell bonds bearing interest not
exceeding per cent, and redeemable
and payable at such periods as may be con-
ducive to the interests of the Government,
for the purpose of retiring all United States
bonds.
He will ask Congress to authorize long
five per cent. bond, to be exempt from taxa
ton, with which to fund the obligations
that are soon to mature. He will lay great
stress on the question Of urging Congress to
adopt, at an early day, fixed policy of