Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1878-09-12

that in 1877 from $500 600 900 to 81, O00 900 900
were held abr.,ad. We then paid from $50 O00,-
COO to $50, 900. 900 annually to Europe for In
terest alone. Now the bonds are mainly held
in our own country. It Is estimated that i've
sixths of them are held in the United States
to foreigners $50, 000, 600, We now pay them
only about $12, 1000 OF BIS, 600, 900 ayear,
and the interest on the debt is mainly paid to
our own citizens. 1t appears from what has
been shown that since tho close of the war,
since the panic Of five years ago, there has been
The change has been one of improvement.
l. The debt has been greatly reduced.
! a. The interest to be paid has been largely
diminished.
8. And it is to be paid at home instead of
abroad.
The burden of taxation has been reduced
since 1866, the first year after the war, as fol-
lOwws: g =
The taxes In 1868 were
Customs. ............ S179,O4s,651 SO
Internal revenue. sos, 226, S13 A
The taxes for 1878 were
urtoms $3.50 ,170,680 20
Internal revenue. ...... HOS ,624 IA
--- 24o, 752, so4 o.
Reduction of taxation since 1866 S247 521, 100 ob
TAXATION THE YEAR OF THE PANIC.
1s73-Customs. $1aS, ,522 70
Internal revenue. .............. 113,729,3l4 IA
IOt8l. SOl,S16,SS6 ~
1915. Z4O,1o2,S04 VI
Reduction since the panic. ..... 6O,066, 531 80
EXPENDITURES.
The expenditures have been reduced since
the end of the war as follows:
1s67-Expenditures including PEN
,o SONS ana interest 6s e 'o6 ae 6
Reduction of expenses. ......... 120,57s,s4s se
EXPENDITURES THE YEAR OF THE PANIC.
1873 .....................$ $3.50 ,3452i6 SO
25o,9o4,5zo ~
Reduction in five years. 53,3sO,018 So
THE CURRENCY.
The improvement in the currency since the
close of the war has been very great. In 1865
the paper currency of the country consisted
Of
National bank notes ACKNOWLEDGEMENTS. 176, 2l3,955
Fractional currency. Observation-Disclosures. 81, 344 ,742
Old demand notes. ACKNOWLEDGEMENTS. 1855
Treasury notes, compound interest notes,
and State bank notes. estimated. 100, COZ, 900
Its value was SO 32.1OO on the dollar in coin,
and its total value in coin $500 990, 595. 49,.
In 1873 our currency consists Of
Nat H bank notes $sa &6s1aa9 ~ ~
Total .s6s7, 74s, 1es IT
Each dollar of paper currency is now b
99I cents in coin, and the total value in coin
! of our paper currency is more than 1864, OGO =
| 900.
The value Of the paper dollar ia as stable as
that of coin. Coin and paper are practically
abreast of each other. The huctuation in the
| value of the paper dollar has not in the last
| five months exceeded the fraction of cent.
| The total increase in the coin-value of our
| paper currency since 1865 ia about $175, 900, j.
| Nothing connected with the financial affairs
of the government is more interesting and in
structive than the state of trade with foreign
| countries.
| The exports from the United States during
! the year ending June 80, 1878, were larger Il an
! during any previous year in the history of the
country. From the year 1863 to the year 1878,
the net imports into the United States largely
| exceeded the exports from the United States
to 1882, 1000, 900.
During the years 1874 and 1875, the exports
| and imports were about equal During the
years endi, g June 80, 1875, 1877, 1878, how
! ever, the domestic exports from the United
States greatly exceeded the net imports, the
! excess of exports increasing rapidly from year
| to year:
| This is shown as follows:
| The total value of exports from the United
States increased from $269. 1886, 900 in 1868, to
$780, 6S3, 798 in 1885, increase of Bali 1893 $685.
| or So per cent.
The following table shows the principal
commodities the expectation of which has
greatly increased during the last ten years:
Excess of ex-
Year ending June 80. ports over net
imports.
1875. SIS, a., 4s1
1877 Observation-Disclosures, O94