The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1875-07-15
The Condition Of the United States Treasury.

in order to support Judge Kelley's decara-
ton that "the United States Treasury is APP
preaching insolvency." the Democratic press
is industriously circulating statements to the
effect that the revenue receipts have fallen far
below the estimates, and that IL large deficit at
the end of the fiscal year will be the result
On tie 10th (June), the Washington cotrespon-
dent of the Louisville KY, Couriey-lGurmaz
telegraphcd to that paper as follows; Il
The Secretary Of the Treasury estimated
that the receipts for the fiscal year would BE
$2S4, 000,50', and the expenditures S275, 000,-
900. leaving S9,000,0O0 to 60 to the credit of
the sinking fund. 1t is now evident that the
total receipts for the year will not exceed $685.,
00O,0 900 thus creating Il deficiency of some Sl6,-
0O0, 900 or over, and the revenue and customs
receipts may continue to fall off between this
time and the Both, so that the above estimate
may not be reached
had been disposed to furnish the readers of that
paper with truth statement, he would have
applied at the Treasury for the facts, and re-
ceived the official statement. which is as fol-
lows, The estimated receipts for the year, us
made by the Secretary of the Treasury in his
last report were, as this correspondent states,
1884, 100000, in round numbers. But the re-
ceipts, Instead of falling below, will exceed
thu estimates and amount to atleast $3.50, 000,-
600. OF this the internal revenue will give
$1O9. 500, 900, customs sl57 100000 to $751;
500, 900 and miscellaneous Sl2,0O0,000. The
internal revenue receipts will exceed the esti-
mates s7.OO0,000, while the customs revenue
will fall s4,0Oc,Q00, to S4,5Q0,000 below Il 9
estimates.
The aggregate expenditures for the year will
not exceed s276, 100000, and they will proba-
bly, be between l,O00 600 and s., 200, 000O less,
varying according to the aggregate of uneN-
pended BALANCES remaining in the hands Of
disbursing officers. But 10000, 900 is the
maximum of expenditures for the year. This
taken from the receipts lcaues q balance TO
thirteen million of dollars orer the eTpenditu-
res.
This is the official exhibit OF the books of the
Treasury; at the present time, and as.we are
within u Jew days OF the close OF tile fiscal yetr
no material variation is possible from the fig
ures as they will stand at the closing Of tile
years record,
1t must, therefore, be concluded that the re-
suit is not only satisfactory. but that it affords
1conplete reputation OF the statements of Mr..
Kelley and the Democratic press.
There is another fact that should be stated in
this connection. The Secretary Of the Treasll-
Nv never expected that the change made by
Congress at its last session, in the revenue and
customs laws. would increase Tie fpceplS. Qtl-
ring the current fiscal year, but there will be
an increase Of revenues from this source du-
ring the ensuing fiscal year.
When estimates for the fiscal year 1876
were made the receipts were put down at
$293, O0O.OO0 that is, Sl7O000,0o0 from GUS
toms, sl06;0O0.000 from internal revenues and
$l7, 900 from miscellaneous sources, 1t is
nov believed by officials that receipts will ex-
coed the estimates by s6.00O,000 to $4,000 900,
the increase coming mainly from the internal
revenues. Some well Informed officers put
tllc increase on the ESTIMATES at $4,000, 000.-
At the same time the appropriations for the
ordinary expenses of the fiscal year 1856 are
100000 less than for the present year, and
less than for any gear since the commencement
of the rebellion. 1t is more than probable,
therefore that the receipts for the next fiscal
year will exceed the expenditures Dy at least
$40, 900, 900 to S25,000.000. SO Truth FIR the
probable Insolvency. of the United statss Treas
ury predicted by the false prophets Ut iliaaern
tinles.-RepvbHc.
The attitude of Tennessee iii refiisihg I'd
make provision for the paymeht Of her debt is
subject for severe censure abroad, and cannot
fail of disastrous effects upon private as we'll