The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-07-09
The National Finances.

The fact that the fiscal year of the
Government ended on Saturday last,
and the consequent compilation of
figures and statements for the various
official reports to be presented to
Congress and the country in December
next will prevent Secretary McCul-
loch from giving the usual MONTH
ly statement Of the condition of
the national finances until the first of
next month. That report will give
the official footings for the year, and
enough is already known to insure a
generally favorable report. The re-
duction of the national debt will prob
ably be about $3.50, 900, 900 for the
year, which will be quite as large a re-
duction as could reasonably have been
expected. The fact, too, that both in
our domestic markets and in foreign
commercial centres our Government
bonds have been in constantly increas-
ing demand throughout the year, is a
most gratifying one. S%tagnation of
business and political excitement have
had no ~uDfavorable effect upon our
national credit, and at Boston, New
York, London and Frankfort the
United States Government has finan
cially stood better and higher during
the past fiscal year than at any pre-
vious time since the war commenced.
With a constant tendancy toward de-
cline in the prices for gold, there has
been an equally constant upward tend
ency in the prices of all our Govern
ment securities, showing that it was
confidence in the nations credit and
not in high figures for gold, that in
duced investments in our gold bear
ing bonds. Now that the country has,
to a considerable degree, recovered
from the arrangement of industry and
production occasfoned by the war, we
have a right to hope hat each success
sive year will witness an Improvement
upon its predecessors in regard to the
national finances, and hat we shall
thus slowly and surely repair the waste
andloss of the war, pay our debts, and
prepare the way for a los prosperous
and successful future.
The Internal Revenue receipts for
the fiscal year that has just closed
we're $40, 000, 900 less than during the
previous fiscal year. This decrease cor
responds exactly with the revised esti-
mates made by Commissioner Rollins
after the reductions made In the in
ternal taxes by the Fortieth Congress.
The aggregate receipts for the two ifs
cal years were $265, 1858, 1914 for the
var just closed, and 1895, 1854, 1872 for
the previous year. With the excep-
ton of July and August Of last year
the receipts of each month showed q
falling off when compared with the
corresponding month in the previous
fiscal year. The smallest monthly re-
ceipts for internal revenue were in
April, $14,41 ,030, and the receipts of
June, $20.432, 962, were larger than for
any previous month since November,
and were only 500, 600 less than the
receipts of June of last year. Consid-
ering the marked dullness in business
that has prevailed during a consider
able portion of the last fiscal year. and |
the considerable reductions that have
been made in the internal revenue
taxes, this exhibit of monthly and
returns of the revenue depart
is very encouraging. Besides
being gratifying in their immediate
effect upon the treasury, these figures
give encouragement to hope that the
annual growth of business will war
still further reductions in the
that are now laid upon the pro-
.uctive industry of the country. The
experience of each successive year
will enable the government TO con-
simplify these taxes and re-
duce their burdens. for the less bur-
densome they are to the people the
remunerative will they be to the
-reasury-Boston Journal.
EAs AL-E#E. E-HA.L