The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-07-12
The Treasury Statement for the Past
Year.

WASHINGTON, July 1O.-Mr. Carson
Washington correspondent OF tbs New
York Times, furnishes a complete state
ment Of the operations OF the Treasury fol
the last fiscal year which will not be ma
terially changed by the reports yet to be
received from the few distant points, from
which the following facts appear: The
total receipts for the fiscal year were S274,.
oS4,ole, against S257 7,78S,s7s for the pre-,
ceding year, an increase Of Sl6,27l ,03s,
This increase was made up as follows:
Customs, ll,795; internal revenue,
$685., ,154; miscellaneous, 50, 1927, ,OS9 Total
increase, sl6,27l ,03S.
The receipts exceed the aggregate esti-
mates presented to Congress in December
last by the Secretary Of the Treasury by
S0,5OO,OOO. Compared with the secretary's
estimates for customs the receipts show an
increase Of S4,50O,OOO, and miscellaneous
receipts s9,0OO,OOO, while the internal
revenue receipts show decrease of about
100000. The increase in customs re.
Ceipts is attributable to corresponding in
crease In the import trade, while the in
crease from miscellaneous sources Is main.
ly repayments made during the year from
the unexpended balances OF accounts oil
disbursing officers.
The decrease in internal revenue re-
ceipts is Chargeable to the agitation in Con-
gress OF reduction in the tax on whisky
and tobacco. During the last session OF
the Forty-fltth Congress the tax on manu-.
factured tobacco was reduced from 24 to
IA cents per pound. The law making this
reduction went into operation May l., 1879.
While the question ofreduction was pend.
ing manufacturers naturally held back
their products until May l, when an im.
mense quantity of tobacco was suddenly
brought forward.
The daily reports Of the Commissioner
OF Internal Revenue show that on one
day, April 80, there were sold tobacco
stamps to the value OF about 81, ,25O, 900,
and that the sale of stamps for May and
June exceeded the sales for the same
months of the preceding year by about
$5,000,0O0.
The ordinary expenditures for the last
fiscal year were Sl61, ,0SS, 152, against Sl3l,-
4G3, ,452 during the preceding year, an
increase Of S26,624,S00. This includes
S., 100000 paid on account OF the fisher
les award, 81, 100000 on account OF PEN
sion arrears, and 81, 100000 paid Captain
Eads for improvements at the mouth OF
the Mississippi river. Deducting these
three extraordinary items, the excess OF
the ordinary expenditures for the last fis.
cal year, compared with the year ending
June 80, 1878, was about Sll ,000, 900.
In view Of the recent discussion in Con-
greS3 touching the liability for expend.
Ing the public funds until appropriations
shall first have been made, it is only nee.
essary to state that the Forty-iifth Con.
gress is responsible for this larger increase
In ordinary expenditures for the fiscal
year Just closed The expenses OF the ex.
ira session Of the Forty-sixth Congress
were, Of course, paid during the year end.
ing June 80, last.
The interest on the public debt for the
year amounted to about Sl05, 900, 900, an
increase Of about $2,500,000 compared
with the preceding year. The successful
reiunding operations Of Secretary Sher-
man, by which all matured 8 per cent
bonds are refunded at per cent, will ex-
plain the increase in this item. The value
Of Secretary Sherman's refunding opera
tions will be more fully appreciated at the
close Of the present fiscal year, when the
results will be more fnlly apparent for the
first time, and when the expenditures in
the column of interest on the public debt
will drop from $l0O, 900, 900 per annum to
SS4, 100000.
1t will be noticed that, Notwithstanding
an increase Of S1S,27l 900 in the revenues
for the last fiscal year, the net surplus was
only S7,946, 6,684, against $40, ,709, ,552 for the
preceding year, a net falling off Of Sl3, ,000,-
900. twill be seen that the reckless med
ding OF the last Congress added $40, ,000,-
900 to the expenditures Of the year.