Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1872-12-14
WHOLE NO. 631.

it will not be unnecessarily or un-
worthily bestowed.
THE TREASURY DEPARTMENT..
The moneys received and carried In
to the Treasury during the fiscal year
ending June 80, 1872, were: From
customs, ,s2l6, $40, ,2S6 n; from sales of
public lands, $2,575, ,714 10; from in
tcrnal revenue, $3.50, ,642, lit %; from
tax on National Banks, etc. SO, ,523, 1896;
80; from the Pacific Railroad Compan-
les, $849 ,SG1 81; from customs fines.
etc., 81 1876. .442 81; from fees of Con-.
suls, patents, lands, etc., 1924 ,O95
80; from miscellaneous sources, 81, ,412,-
354 II; total of ordinary receipts, 1884,
G94 220 81 from premiums on sales Of
coin, 50 Alp ,637 G5; total net receipts,
1914 ,O1G, ,837 Sc; balance in Treasury
June Both, 1871, $40, ,935, ,7C5 79; in
Guiding 81 1872 .S35 received from un-
available assets; total available cash,
1884 ,O42, ,573 Is. The net expenditures
by warrants drawn during the same
period were: For civil expenses, $16,-
1S9, ,O79 20; for foreign interests, $l8,-
4O9,3G9 ID; Indians. 1854, ,726 SO;
pensions, s2S, ,533 ,4O2 76; Military es-
tablishment, including Notifications,
river and harbor improvements and
arsenals, $31 ,537 ,215 70; for naval es-
tablishmen.s, including vessels and
machinery and improvements at the
Navy-yards, S21 ,249 800 80; for mis-
cellaneous civil expenditures, includ-
ing public buildings, lighthouses and
collecting the revenue, $40, ,957 1929 O8;
interest son public debt, 1886, ,839
y; total, exclusive of principal and
premium on public debt, $27O, ,659, ,695
81; for premium on bonds purchased,
$685. ,7G6 GG; for redemption of the
public debt, $969, ,153 40; total, $780,
918,52 40; total net disbursements,
$377 AIS, ZIG 2l; balance in treasury,
June 80, 1872, $1O7, ,564 1856 "a. Total,
1884 ,O42,573 Is. From the foregoing
statement it appears the net reduction
of the principal of the debt during the
fiscal year ending June 80, 1872, was
500, 800, ,253 81. The source of reduc-
ton is as follows: Net ordinary re-
ceipts during the year, 1864 ,694 ,229 81;
net ordinary expenditures, including
interest on public debt, S27O ,559, ,695
81; total, $94, 134 ,535; add the amount
of receipts from premiums on sales of
gold in excess of premiums paid on
bonds purchased, 81, ,454 ,47O 80; add
amount of reduction of the cash bal
ance at the close of the year, accom-
panied with the sale at the commence
ment of the year, 1897 ,348 60; total,
S99, ,96O, ,253 81. This statement treats
solely of the principal of the public
debt by the monthly statement of pub
lie debt, which adds together the prin-
, cipal and interest due and unpaid and
interest accrued to date and deduct the
cash in the Treasury. As recorded on
the day of publication, the reduction
was 500 0,544 ,491 2S. The source Of
this reduction is as follows: Reduc-
ton, principal accounts, $99, ,S6O, ,OO3
81; reduction on unpaid interest ac-
counts, $3.50, ,057 56; total, $1O3, $780,
95G 50; reduction in cash on hand,
$274, GAG, ,522; total, SIC. .544, ,491 %: on
the basis Of the last totals, the state
ments show reduction of the public
debt from the first of March, 1863, to
to the present time, Us follows: From
March l, 1869, to March l, 1870, So
734, ,7S2 81; from March 1, 1870, to
March, l, 1871, Sill, ,819, $50 %; from
March l, 1872, to November l, 1872,
(eight months), S64, ,O47 1887 a.; total,
$685., 500, 1893 81. With the great re-
duction of taxation by acts of Congress
at its last session, the expenditures of
the Government in collecting the
revenue will be much reduced for the
next fiscal year. 1t is very doubtful,
however, whether any further reduction
of SO heavy burthen upon the peo-
pie will be practicable for the present.
At all events, as q measure of Justice
to holders of the nations certificates of
Indebtedness, I would recommend
that no more Legislation be had upon
this subject, unless it be to correct the
errors of omission or commission in the
present laws, until sufficient time has
elapsed to prove that it can be done
and still leave sufficient revenue to
meet the current expenses of the Gov
ernment and pay the interest ON the
public debt and provide for the sinking
fund establishe 1 by law. Preservation
of our national credit is of the highest
importance. Next in Importance to
this comes the solemn duty to provide
national currency of fixed and unvary-
ing value, as compared with gold, as
soon as practicable, having due regard
for the interests of the debt or class
and the vicissitudes of trade and COM
merce, and convertibly into gold at
par.
THE WAR DEPARTMENT..
The report of the Secretary Of War
shows the expenditures of the War
Department for the fiscal year ending
June 80, 1871, to be $35, ,79O, ,99l 50,
and for the fiscal year ending June 80,
1872. to be $35 1861, ,157 20, showing 8
reduction in favor Of the last fiscal year
Of SA27 1874 g.. The estimates for
military appropriations for the next
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