Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1871-12-20
Treasury.

The report of the Secretary of the Treasury
begins as follows The country has been pros
porous during the year now closing, and tn,
public finances have shared in the general pros
perity. During the fiscal year ending June 30
1871, the reduction of the public debt was S94 :.
327,764. "a. The total decrease in the publit
debt from March /, 1869, to December !, 1871
was S277,2ll, 1872 l6, and during the same
period the annual interest charge has been re.
duced Sl6,74l ,4S6.04 The revenues for the
year 1871, and the receipts since the first OF
July last show that the time has arrived when
further reduction in taxes can be made. and
and yet leave the Government in a position to
pay fifty millions Of dollars annually of the
principal debt, including the amount pledged
through the sinking fund.
The revenue from customs for the wear 1871
was greatly in excess of the estimates, amount
ing to S2O6,270, i08.06, against $l94 ,377.44
for the preceding year. The cost of collecting
this revenue was Sc 500, 672 GIL for 1871, being
three and eleven hundredths per cent. while
the cost for the year 1870 was sc, 237 ,l37. 25,
or three and twenty hundreths per cent, The
appropriation for the collection of the customs.
with the additions derived from fines and pen
altles and forfeitures, exceeded the expendi-
lures by the sum of more than $500, 900. There
is no doubt that the permanent appropriation
will be ample for the present year and for the
next fiscal year.
The receipts for Internal Revenue are $l43,-
O96, 1888, being $448, 98429 less Than the
estimates presented to Congress in December
last Tor the fiscal year ending June 30, 1871.
The expenditures for the same period were
1or civil and miscellaneous purposes 500, 498,-
ll0.9I tor the War Department $35, 799,-
S9LoA This is the net amount after deducting
$e,IoO.O93 IL repaid into the Treasury, the
proceeds OF sales Of ordnance The true expen-
ditnres were $44 $3.50, 0S490 for the Navy De-
partment, $l9,48l .0272l for Indians. 81
26,997.4 A for pensions, 1874 ,443, 1894 88; for
interest on the public debt, $175,576, 500 1891.
Total 1922, III, 1885.
The receipts and expenditures for the fiscal
year ending June 80, 1873, are estimated as
follows; Receipts from customs, 1912. 900. 900
from Internal Revenue, Sl26, OOO, 900 from
sales ON public lands, $4,000, 900; from mis-
ceilaneous sources, $1,000, 900 total, $685.
100000 .g "
Mr. Boutwell, then details at length his neeo-
tlatlons in this country and Europe of the new
0 per cent bonds within the limit of $780,
ooo,ooO, and says that by the last of August
subscriptions were obtained for the entire
amount offered on the first of September. The !
work OF disbursng the bonds subscribed for at
that date is now going on, ami under such cir |
cumstances as to leave no doubt that the whole
business will be concluded in brief period of
time
Returns for the fiscal years of 1870 and 1871 |
show that the ocean commerce of the United |
states is passing rapidly into the hards of
foreign merchants and ship builders. In the
year 1861 nearly II per cent of the foreign
commerce of the country was in American ships |