Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1876-12-13
Report Of the Secretary OF the
Treasury.

Treasury.
The Secretary OF the Treasury begins his report
Inv showing that the total net revenues for the year
were S,s7 4s2 U39. is; the net expenditures t25S,
ass, 1g7 49, leaving surplus revenue, exclusive OF
the amount turned into the sinking fund, Of s29.-
G2s,2ai.s3. The main sources OF receipts were:
Customs .................. Si3s,01,a S4 81
Internal revenue ......... ........ 732 03
Tax on National banks ......... t32s.5'3 -
Fees consular, letters patent and
Premium on sales of coin -. 3123.5i5 W
Total. s277 s34 flo IS
From various msceiaueo sources $9b47, !r22 81
Grand total $ss7. AZ, 039 10
The expenditures were:
Indians ................ ....... 1886 5s II
Pensions 49,. ...............,... % .257 ,395 10
Military establishment including
Notifications river and harbor
improvements etc ..... ......... 3S.010,SSS "a
Naval. including vessels, etc .,.,... 1883 800 81
Miscel.s ncous civil, including pub
lie Buildings, lighthouses, and
cost OF collecting revenues. ...... 45,315S72 As
Interest on public debt. .......... 100 9I3.2u 23
Foreign intercourse ............... 1,41D252 30
1Oldi S-'tS. iJd' tti %
OF the public debt there was redeemed and can
celed during the fiscal year So 49,. i6l.s0, and
judgments Of the Court Of Alabama Claims were
paid - the amount Of 1864 PSI o. The balance
IN the treasury June ~, 1919, was sl1i, iu, 40 a.
which ON the }Ith June, 1876, had been reduced to
xi21 sU7 1870 The net receipts for the firs. quar-
ter of the fiscal year ending June 70, 1875, were
$73 II 52i49 and the net expenditures were SIS
15i rSj. ~ The estimate OF receipts for the year
0nclnding actual receipts for first qnarterD Is
s26f 2R 1850, and Of expenditures l. 81 62S,-
1885 leaving an estimated surplus Of SO 663, 90
u. There will. therefore, In the opinion Of the
Secretary, he deficit In the sinking fund for The
year Of &1.0i2 iln.d3.
The estimates for the iscal year ending June
s2i3. $50 70} leaving further deficiency In the
amount necessary to be applied To the sinking
fund us provided by law OF 1861 5000. The Sec
rctAry piyes briefly the history Of the sinking
fund, and o. the act providing for its establish
meut. The act Of Feb. %. 1859 provided that after
the LIST day OF July, 1867 Que per centum OF the
tire debt should be paid within each fiscal year
Bnt down 10 the time OF the close Of the war the
revenues were inadequate 10 the payment OF cx
penses, and the act vas dead letter Had the
letter OF the law been observed from the passage
of the act, however, the reduction II tho debt
down to June 80, 1876, would have aggregated only
$i33.sis,2l53s, whereas, since Aug 81. 1895, the
debt has actually been reduced $G3h 9r2, 2e64i,
S223 lli0llVl more than the terms Of the law
qulrcd.
RrruNpISG rnE NATIONAL psB1
ON the 2lth of August 1876, the Secretary
entered into contract with Messrs August bel
mont & Co. on behalf OF Messrs. ~ NJ Rothschild
& sons. and associates and Messrs. j, & W Selig.
man & CO., for themselves and associates, and
Messrs. DreScl Morgan & Co, on behalf of Messrs
Co. for themselves and associates, for the Iegota-
ton of Si0,0nu0O OF the i}s per cent. bonds
authorized by the acts of July ~. 1870, and Jan
20, 1871, the contracting parties to have the cx-
elusive right 10 subscribe for the remainder
namely 2to,oJODoo, or any portion thereof OF the
said ~ per cent. bonds authorized By the a0re-
said acts. by notifying the Secretary or before
the Both day Of June 1870 the secretary reser Ing
the right 10 terminate the contract at any time
after Ainrch I. 1871, by giving ten daJs' notice
tn rcof TO The contractors
he agreement provides that the Secretary Is TO
allow the parties named unc-haf of one per cent
commission upon the amount they may take, .hey
70 assume and defmy all expenses which may be
incurred ~ preparing, printing, Transporting.
and Issuing said tour and one.half per cent
bonds, aud or transmitting 90 the Treasury De
pnrtmcnt, Washington, COIN United states Gve-
twenty bonds maturGd United States coin cou-
pons received In payment for the -four and one, half
per cent bonds Issued, or which may be issued, 30
the contractors; and the Secretary agreed to isSue
notices for the redemption of an equal amount of
six per cent hye-tweHty honcis Of the United
Staic~ upon the datos ~ subscription by the Goa
tracing parties for four and one hnli per cent
bonds, as provided NV the act OF July II, ls1u
The subscribers agree 90 pay for said ~ per
cent bonds, pac and accrued interest in gold coin
maturod United States coin coupons. six per cent.
i've twenty bonds or United States gold Ceftih.
Gates. Against the subscriptions of the contract
ing parties for ~ per cent bonds the following
described notices Tor the redemption of United
States hye'tveuty bonds act OF March g. $50, have
been issued viz.