Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1873-09-10
Financial Exhibit.

The Financial Chronicle publishes an in.
tcrcstiog and instructive statement Of the
income and expenses Of the general gov
eminent for the fiscal year ending june
S0th last, as compared with those Of the
preceding year 1t appears in general
that there has been heavy dimnuiion in
the receipts, while the expenditures have
increased. There is a decline
Of eighteen million dolarsin custom duties
seventeen million dollars in internal revenue
and five millions 10 miscclanc
Gus revenue--iu al forty million dollars
less money has been received into the
Treasury than during the corresponding
period the year before.
Bat, Notwithstanding this exhibit the cx.
pcnditurcs show an increase Of eleven
million dollars in the War Department two
million dollars in the Navy, aud thirteen
million dollars in the civil list lwcuty-six
millions 10 all Of gross increase, which the
diminished interest payments during the
year OF twelve million dollars and the item
Of one million dollars reduction Of the
amount paid for premiums on purchased
bonds, reduce to a net increase in expenses
Of thirteen million dollars The national
income has accordingly fJlen off forty
millions, while the ouigo has gone up
thirteen millions, making total difference
Of dny.three millions on the wrong side Of
the ledger. The net reduction Of thepublic
debt during the year has accordingly been
only about forty.seven millions instead Of
one hundred millions, as during the preyiou.
year
Now it is true. that there was no neces-
sity for continuing the reduction Of the
public debt at the rapid rate Of 1872 -
The lessened revenue from domestic take,
indicates reasonable alienation Of the
burden which the nation was bearing The
falling off in the customs revenue was &c.
casioned by causes for which Congress i.
not responsible. But the augmented ex'
pendlure needs to be strictly examined -
The naval item may be admitted to be cor
rect the navy was in condition, as wal
shown by Mr.. Hale, requiring more lib
eral expenditure for It's preservation Bu
why has the war department called for II
millions more than in 1872 ? Is this Thu
little bill Of the United States in accoun
with the Modoc Indians, debtor In pant
no doubt but partly also. this expcnditur,
represents pure waste upon needless fortiii
cations, which will be still unfinished an,
useless when the next war surprises US
The civil list however is accountable 70
the greater part Of the extra disbursc
mcuis sixty millions for civil and miscel
lancous purposes in 1872, aud seventy
three millions in 1873.
This account needs explanation Thos
increased expenditures are all to be mad
up by taxation sooner or later. The bur
den may be reduced for the present, am
the final payment on the public debt ma
be postponed; but it must lie paid som
time, aud paid by taxes imposed upon tn
industries of the nation. And the peopl
who are to pay these thirteen million
would like to audit the account Of the Ut
usual aud possibly superauous disbursc
ments.
The department report next December wi
be read with unusual interest, and if an
Congressman can afford to neglect the pos
offices in his district long enough to iuvel
tigate this matter thoroughly, and report
clearly, he will confer favor upon h
countrymen which will be sure Of apprecii
ton.