Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1879-12-02
Annual Report of the Secretary
of the Treasury.

The full text of Secretary Sherman's report
is printed. 1t states that the total ordinary
receipts for the fiscal year, ending June 30,
were S273,s27, 1874. Ordinary expenditures
S266.947, 1888, leaving a surplus revenue of
S6,S79,3 300, which was applied as follows !:
To the redemption of l.. s. notes, ETC., $3l.-
6l3.l7; to the redemption OF fractional cur
rency, S7O5, l62. 80: to the redemption of 6
per cent. bonds for the sinking fund, sls, 800 |;
to increase of cash balance in the treasury,
Sc, 4,O24.77: total, $6,s79 ,300.93. The
amount due the sinking fund for the year was
$50, 955, 604.63 leaving a deficiency on this
account of $50, O76, 3O3.70.
Compared with the previous fiscal year the
receipts for 1879 were increased SIG, =
1870, in the following items: In customs
revenue, 81 ,079, 1861. 80: in internal revenue,
s., 979, 1858 in premiums on loans, ST.
496, 1885, in repayment of interest by Pa
cific Railroad Companies, 81 $40, 1869; in
profits on coinage, 1924, 1864; and in
miscellaneous items, 50 $50, 40 10. There
was a decrease of $647 ,S53.94. as follows
In sales of public lands Sl54, 962.3l; in pre-
miums on sales of coin, $30S, 1892; in
semi-annual tax on banks, Sll5,552.64; and
in proceeds of sales of government property,
6S,34l.O7, making the net increase in re-
ceipts from all sources for the year Of &c.
063 .305.76.
The expenditures show an increase over
the previous year of So, 224, 73l .26, as fol-
lows: In the War Department, 1921 ,5l2,sS
in the Interior Department, SS,56l .292. ii ;
Indians, S57G.s2S,s and pensions, 81
9s4, 4G3 81; in interest on the public debt,
s., 1927 ,O74.35; and in civil and miscellan-
eous, $l2, 1858, S5l92. There was decrease
of s., 24O, l74.53 in the Navy Department,
making net increase in expenditures OF
S29 1888 55613
The receipts for the quarter ending Sept.
30th were $40, S43,579; estimated receipts for
the remaining three quarters of the fiscal
year, S2OS, 156, 420; expenditures for the quar-
ter ending Sept. 3Oth S9l ,Gs3 1886; estimated
expenditures for the remaining three-quarters
of the year, 172, 3l6,6l4, total receipts, actual
and estimated, S2SS 900, 900; total expendi-
lures, actual and estimated S264 ,0OO, 900.
leaving a balance ST 1924 ,000, 900 after apply
ing the balance of the special deposit Of U. s.
notes held IN the treasury for the redemption
of the fractional currency, amounting to S.
1884, to the payment OF arrears OF PEN
sions. The increased revenue derived during
July, August and September of the present
fiscal year was fully absorbed by current ex-
penses and the payment of Sl6,374 ,249.6O ar
rears of pensions accruing under the ACT ap-
proved January 25th, 1879.
Notw outstanding these unusual demands
the department has been able to purchase and
apply to the sinking fund out of the surplus
revenues for October $40, 050, 900 6 per cent.
bonds of 1881 and S676,O50 in 5 per cent.
bonds issued under the act of March Sd, 1864.
The latter is in excess of the redemption of
these bonds, over issues of 4 per cents under
the refunding acts, and unless unexpected
appropriations available for expenditure with
in this year are made by Congress, the sur
plus revenue, in addition to paying off the
balance of arrears of pensions, will probably
enable the department to apply to the sinking
fund account during the year the sum Of $24,
100000.
The revenue of the fiscal year ending June
80, 1881, estimated upon the existing laws,
will be 82Ss, 100000. Estimates Of expendi-