The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-12-06

Pubic works, -
Treasury department. - ;2et, lee %
navy Nav Ieraspse1 .. ..iS aSsos %
Interior Department, BJ5 ,Q82 70
Department OF Xsrical. ,ao
Department Of Jasucc... iS,J00 %
Postal service. zee. 6n7s2d7 ~
PdrmaSent suptopr ions dinicaani
tSo,3vl,V9d ~ for sinking fundj...... hd 6hb1o ~
seoaoll ca 90
REDUCTION PupI1c pRpr.
Princpal of the debt July $50. .3 III b3t o.
intcrcs to date NATURALIZATION rs ei7 5te 10
To.a debt zero oss oss "a
Cash In the Treasury ............... 1929. 81 ~
Deot less oash In the Treasury 1913 6s 720 80
Principal ~ the debt July l. 1870 81 $50 305,O07 10
Interest due aud unpaid, and accrued ..- -
interest 10 uate...s.s.s..sss........ oNg'ifVof of
Total debt t2,21Se0Q7l 90
Cash In The ,asury................ ll9469720 ~
Debt Ices cash IN the Treasury. 81 900 1884 w
showing reduction. az above statedof 29.240.3sl S9
twill he observed that the surplus revenues,
exclusive OF provision for the sinking fund.
IA shown In the abatement 81 rcceiuts and OK
penlltures for the nscal year. were $29,tEss,2il 3d.
or S.21 1880 less than the amount of the teduC-
tion of the debt AZ shown by the mOntliiy state
m mt Of the same. The difference between
these two statements nrlsps from the difference
Of dates at which they are made up, Ms viii be
seen by comparison Of HON as regards tho
cash In the Treasury at the commencement and
tetcBt due AMI unpaid, and accrued interest to
date" which, fl tue monthly dent statement, Is
treated ne n ahiity 81 the Government. pre-
c.sely as IL the pracipal Of the debt, hut when
Is not 60 considered In the statement OF receipts
and Expenditures.
Toe ca n In tue Treasury July l. 1875 shown by the
monthly dc0t statcmfnt Of that date, and which EN-.
graesa ony tie mongys ocay reported Z, t.e De,
The cash 70 the Treasury Juy ! 1870 as
thoSn by the account of receipts aud
expenditures Uhe books IRON which II
pfeparra usually being Kept open ior
all the revenues deposited at the differ
ent places 81 deposit Throughout the
country witnin tue period covered Oy
statenent). vas. ...........,...,... la 7o24io a
shovinga difference of............... s2A5o,o54 90
The each Ia the Ir' asury July !, 1876 ae
of that date. t1loaGa 729 10
ceOts expenditure Of same date. i9iso7 7a2 80
Showing difference of.............. te,JSs,oOS w
The ain renee In these two statements
of cash reported to the Treasury, AZ
sIpssss oy "a ~ mo .,. sls,e,sn aud
ecipts and expenditure a. tue com
Mwin be seen, ti2i oisgo ,,.s the
ssun OF t27,.el IL PAD o. se.9aat o.
i'IIns IN excess Of the amount re.
sSea curing ~ Ie 'sa Sq@refr trS n ,9s
%n .'S Ss t's % HSS.PTr:s ss aS S T'Ss e
suec ,ding quarter out Of the proceeds
OF ~ ie OF bon "A In eAcess OF payments
rssI.ou 0 % Ssse poad i SsSe 10 nS
sense ordinary rccvip or expcndi.
turc Of the Government, and veren
TO When add he reduction in the '''0'' GO
item Of Interest due ana uupad, aud
accrue interest 10 date '.............. l3abbl %
Making the sum of................... ,2s1lSo 20
IL will. therefore. be perceived that no q iffer-
ence exists IN these two accounts, her than
that witch grows out Of tue manner Of their
preparation.
the SINKING FUND.
was provided that, after the first day OF July.
1897, one per ccntuu OF the entire uebt Of the
United States should tie purchased or raid
within each nacal year. to De set apl ri BR sink
ING fund also, that the Interest on said fund
should In like manner he applied Ia the pur
chase or payment VI the debt. 4 he sixth section
OF the ct of July H. 1870. also required that, IN
ADDITION TO other amounts t. be applied t. the
7 denDttnn or payment Of the public debt, an
amount equal to the interest on all bonds be-
appl ed TO the payment OF the public deot.
From the time when the act first named was
TO 20 into effect, until August 81 lS85. the de-
mands upon The Treasury for expenses incident
10 the war were gre Atly III excess Of the rev
enues Of the Government. and therefore there
was no surpus income when could ne applied
To the cXtin- ushment Of the deot or the crea-
ton Of a sinking fund, and, consequently. the
| " Iruyiding for That fund " as. during that
PERI d. u, o. srary eudered imperative.
plated that "A certain sum should be applied
within each Il cu wear to the account OF the
sinking fund. II the resources Of the Treasury
during each fiscal veal. commencing wltn July,
compliance with the cUndi ions of the Jaw prac
tea he, the account wonld at tho close Of the
last fiscal year nave appe red upon the books OF
the department as fOliow.: