Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-05-06
RUINOUS GRANTISM.

Inc treasury hecelpts EaA11nR OH In
spite of Increased Taxation, and n
Expenditures Running UP-Business
DePressedEveryWhere and the work.
ing Glasses Suffering.
Washington Correspondence New York Sun.
The statement made in these dis
patches six weeks ago that the new
revenue bill would not meet the expec.
tations of its authors, is fully justified
by the published receipts for the four
months Of the new year. The total re-
ceipts for the fiscal year to April 80,
are, in round numbers, 1928, 5l0,87l.
Of this S133. 752, 900 are customs re.
ceipts, and $50, 75S, S71 internal revenue
returns. The internal revenue receipts
for the four months of 1875 are $780,
4S5,420, and the receipts for April are
! 81, %, 33l. This is a large falling off
from the receipts for the corresponding
period of last year, April alone falling
nearly So, 900, 900 behind as compared
with the returns the same month of 1874.
The estimated receipts from customs
and internal revenue for the present
fiscal year were S267, 900, 900, and thus
far the total receipts have been in
round numbers only S224,000, 900.
Hence May and June viii have To yield
| 3,00O, 900 to make the books balance.
TO DO this, internal revenue viii have
to yield nearly sixteen millions and
customs nearly twenty-eight millions.
During May the special license taxes
are collected, and this Will help the in
ternal revenue receipts some, but 9TH
erwise both May and June are dull
months, and they are especially so in
tie customs department, there being
but little business done by importers
during these months.
The new revenue bill was construed
50 as to take effect on the Sd day Of
March, and yet 1t has made no percept-
ible difference in the customs receipts,
and but little in the internal revenue
| collections. 1t is therefore inevitable
/ that the receipts for the present fiscal
/ year Will fall short several millions of
| dollars on the estimates, while, on the
other hand, the expenditures Will as
suredly run ahead several millions.
In addition to all this, the currency
/ balances in the Treasury have run
/ down to less than a million and three
quarters, and unless it is replenishedby
sales of gold they will be entirely ex-
hausted. But sales Of gold are scarce
ly to be thought Of, because the drain
on the specie revenues must be very
heavy during the remainder Of the fs-
| cal year.
While the Secretary of the Treasury
is compelled to face this unsati sfactoTy
condition of things In his department.
he hears from every quarter Of the
country the most discOuraging reports
IN regard TO the revival Of business.
The reports received at the Agricultu-
RAJ Department give a gloomy account
Of the farming interests in every sec
ton Of the country. There Is the same
instability among manufacture which
has existed for eighteen months, WITH
no prospect of any immediate change.
The extent of the suffering among the
! poor classes Is appreciable from the
facts supplied blythe Federalcity itself.
The general government disburses here
over q million dollars a month IN sala-
RIGS, and the District Government is
doing a vast amount Of work on the
streets Of this city, but nOtwiJhstand-
ing these facts, there has never been
more suffering among the poor than
now prevails, and this suffering is not
confined TO the colored population,
but is chiefly among the white laboring
/ classes.