The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-12-07

and S69, 100000 upon demand. In the
former year Al per cent, and In the
latter year 81 per cent OF the loan made
by the New York banks was upon de.
mand. A further result Is seen In the
fact that parties borrowing money
upon commercial paper for legitimate
commercial puposeS pay from 8 To O
per cent additional interest per anuum
as compared with persons who borrow
money for speculative purposes. l
therefore respectfully recommend that
0 law be passed prohibiting absolute
payment Of interest by banks upon dc.
posIts, and limiting also the loans
upon collaterals, the amount moi exc
ceedlng 10 per cent Of their capital. I
am satisfied also that the practice OF
certifying checks even when the funds
are 10 the bank 10 the credit OF the
drawer is fraught with evil and that II
ought TO be entirely prohibited.
The following statement exhibits the
receipts and expenditures for the
fiscal year ending June 30th, 1909: Re.
ceipts Of customs, $3.50. .0lS. .426 63; inter-
nal revenues, SlSS. .356, 400 SO; lands,
u 020. .S44 81: direct tax, $785, ,6S5 6l; mis-.
cellaueous sources, S27, 1890 II; total
exclusive ofloans S66, ,474 ,06l 60; expen.
dltures Of civil service, $50, 8,474 ,O6i So;
pensions TO Indians, SS4,5lO, ia 81; war
department, 81, S,6Ol, 900 81; navy de-
partment S20, ,000, ,757 81; interest on the
public debt, $3.50, 1901, ,242 80; premium
on $40 U. 8. treasury notes, SSOO,OOO:
total exclusive OF loans, $32l, ,400, sol rs;
receipts In excess Of expenditures, $l9,.
45S, 149 40. The following statement
exhibits the receipts and expenditures
for The quarter ending Sept. 8Osh, 1869:
Receipts OF Customs: $50, 2,698, ,92l, so;
Internal Revenue, S47, ,926, ,S52.6I; Lands,
SS8, ,864.S8; Miscellaneous Sources,
N,1l2.4SS 81; Total, exclusive OF loans,
$lOS. .8Sl ,622.02; Expenditures after de.
Quoting the amount Of repayments, by
disburSing officers and others OF the
civil service, SIS, ,102, ,2O2, ,05; Indians and
Pensions, Sl3,547, ,9i2.79; War Depart.
ment, Sl3. .695, ,46S.05; Navy Department,
80, 2.6S0.96; Interest on Public Debt,
S37, ,462, ,270.74; Total, exclusive of loans,
SS5, ,4S0, ,6l4.69; Receipts In excess OF ex.
penditures, 81, ,35l, ,107.44; the estimated
Receipts and Expenditures for the
three remaining quarters Of the fiscal
year ending June 80, 1870, are a. fol-
lows: Receipts Of Customs, Sl35 O0O. 600:
Internal Revenue, $4,000, 900; Lands,
u. 100000; Miscellaneous sources, 500
100000; Total. $3.50, 900. 900; Expendl.
lures Civil Service, 0,OOO, 900; PEN
slons and Indians, $2l, 900 600; War
Department. 40,500,000: Navy Depart
ment, S14.0O0,000; Interest on Public
Debt, 93. .75O, 900; Total, sos, ,25O, 600: Es-
timated Receipts In excess Of Expendl-
lures. H6,760,000. Estimated Receipts
and Expenditures based upon existing
laws, for the fiscal year ending jane
80. lS71i Receipts Of Customs, Si85, ,OOO,-
900; Internal Revenue. $l75, ,OO0, 600:
Lands, $5,000.000; Miscellaneous
sources, $2S. 100000; Total, 2S93, ,OOO, 900:
Expenditures, civil, foreign and Mis-
cellaneous, $4,000, 600; Interior and In.
dians and Pensions, $50, 200, 600; War
Department, $5O,0OO,OOO; Navy Depart-
ment, $4,000, 900, Interest on the Pub
lilo Debt, Sl27 900, 900; Total, s29l, ,OOO, 900;
Estimated receipts In excess OF ex.
penditures, $l02, ,000, 900.
The foregoing estimates OF receipts
are made upon the assumption that the
laws now In force relating to Customs
and Internal Revenue will not be
SO changed as to materially affect the
revenue, and the estimates Of expendI-
lures are based npon the expectation
no extraordinary appropriations will
he made.
[Signedl GEO. s. BOUTWELL,,
Secretary Of the Treasury.