Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1872-12-06
THE FINANCES OF THE NATION.
Annual Report of the Secretary OF the
Treasury.


| Treasury.
| The report opens with marked compli-
ment to the officers and clerks of the De-
partment and recommendation that the
salaries of the Assistant Secretaries should
be increased.
The Secretary then refers to the compile
ton of the negotiations for the sale of the
200, 000, 900 five per cents, and redemption
of an equal amount of six per cents, and
urges that registered bonds of every issue
should be made convertible into coupon
bonds, at the will of the holder.
The statement Of receipts and eXpendi-
lures is identical with the figures given
under the head of Treasury Department in
the Message yesterday, with tho following
aggregates: tTEfEfg..
Total available cash 042 573 10
Total disbursements. "....,..... 81, 478, PIG q
Balance in Treasury June so, u $1O6, 564, 1856 "a
The public debt reduction figures given
by the Secretary are also identical with
those in the Message.
For the first quarter of the current year
the Secretary states the receipts of the
Treasury, including the balance on hand
June the so, at S207, 1880, sos 40, and the ex-
penditures during the same period at slO5,-
4s6, 355 70, leaving balance on September
so of SOL 1894, 149 20.
The estimates for the remaining nine
months of the current year are as follows:
Receipts, S21S, 500 900; expenditures, S173,-
700, 900; leaving S44 800, 900 surplus revenue
applicable to the purchase or redemption
of the public debt The amount required
for this purpose under the Sinking Fund
law, for the year, will be about $29, 200, 900.
For the fiscal year ending June 80, 1874,
the Secretary estimates the receipts at
GQO0 mn hn foe moi hoe
on the amount of revenue collected since
the act of May and June, 1872, went into
operation; but as the imports have been
large, and considerable sums have been OBJ
tanned by revenue officers Oh account of
old taxes and claims, he thinks it will be
wise to leave the source of revenue undis
turbed for the present session.
The expenditures for the same year (end-
ing June 80, 1874 including $29 191 1863 Is
for sinking fund, the Secretary estimates
at S30S, 323, 256 81.
The reduction of taxation since the close
of the war is estimated to have been, in in
ternal revenue, by the act of July Is, 1866,
$50, 100000; by the act of March 2, 1867,
$40, 900, 900; by the act of February 3, 1868,
$23, 100000; by the acts of March 81, 1868,
and July 90, 1868, $40, 000, 900; by the act of
July IA, 1870, $50, O0O, 900; by the act of
June 6, 1872, $40, 651 900. Total of internal
revenue, S248, 651 900. In customs, by the
act of July A. 1910, $29, $40, 41O; by the act
of May II, 1872, and June 6, 1872, $31 ,172,
761. Total of customs, $50, 1899, III. A total
reduction of $500, 350,171.
PURCHASE OF BONDS.
Since the institution of the sinking fund
in 1869, and in accordance with the act of
February %, 1852, there has been purehas--
ed on this account, up to and including
June 80, 1872, 800, 397 800 in bonds of the
various issues known as 500, at net cost
in gold of $94, 097 ,243 SO. In addition to
these purchases for the sinking fund,
bonds have been purchased to the amount
of S172, 237, $50, at net cost in currency of
$195 ,00S, 2SS SO, or an estimated cost in gold
of Sl63, 375,054 80. The cost of these bonds,
estimated in gold, has varied from 1921
per 100 to $3.50 per 100, most recent pur-
chase being at the rate of 1886 per 100. The
average cost in gold of the whole amount
of the purchase, up to and including the
last day of September, was 94.64 per 100.