Connecticut western news., 1879-07-16
the larger repayments made during the |

the larger repayments made during the | year from the unexpended balances of the accounts of disbursing of6cers The | decrease in internal revenue receipts Is | chargeable to the agitation in Congress of reduction in the tax on whisky and tobacco. During the last session of the | Forty fifth Congress the tax on manu- factured tobacco was reduced from "A to 16 cents per pound. The law making this reduction went into operation May 1, 1879. While the question of reduc- tion was pending, manufacturers nat urally held back their products until
 May l, when an immense quantity ot tobacco was suddenly brought forward.
 The daily reports of the Commissioner of Internal Revenue show that on one day-April 30-three men sold tobacco stamps to the value of about $I, ,250, ,000,
 and that the sale of stamps for May and
 June exceeded the sale for the same
 months of the preceding year by about $5, 5,0O0,0O0.
 The ordinary expenditures for the last
 fiscal year were $161, ,089, 252, against
 $134, ,463, ,452 during the preceding year
 an increase of $26, 624, 800. This includes
 $5, 5O0, ,000 paid on account of the fish
 cries award, $5, ,500,0 900 on account of
 pension arrearages, and $1, ,800,0 900 paid
 Capt. Eads for improvements at the
 mouth of the Mississippi River. De-
 d'lcting those three extraordinary items,
 the excess of ordinary expenditures for
 the last fiscal year, compared with the
 year ending June 30, 1878, was about
 $l3, 3,OO0,00O. In view of the recent dis
 cussion in Congress touching the iabil-
 ity for expending public funds until
 appropriations shall first have been
 made, it is only necessary to state that
 the Forty-tifth Congress is responsible
 for this larger increase in the ordinary
 expenditures for the fiscal year just closed. The expenses of the extra ses- sion of the Forty-sixth Congress were,
 of course, paid for during the year end
 ing June 30 last.
 The interest on the public debt for the } year amounted to about $105, GOO, ,000, an increase of about g., 800, ,O00, compared with the preceding year. The success t tul refundlng operations of Secretary l Sherman, by which all the matured t per cent. bonds were refunded at pel 7 cent. will explain the increase in this 7 item. The value of Secretary Sherman's e refuuding operations will be more fully . appreciated ut the close of the present I fiscal year, when it's results will be made r. fully apparent for the first time, anG r when the expenditures in the column O. Q interest on the public debt will drol :. from $l0o, ,000, ,0OO per annum to $94,
 100000.
 e It will be noticed that notwithstanding & an increase of SIG, ,27l ,000in the revenu - for the last fiscal year, the net surplu l was only $7, 946, ,664, against $20, 799, ,55 D for the preceding year, net falling of = of $l3, QUO, 900. Below will be found tn n figures in detail, which will show tn t financial operations of the governmen l for the respective periods named: A Receipts. 1878. 1879. a Customs .......... s13O, ITO, 6sO S137, ,4s2. AZ V Internal revenue. =. 110.5S1 ,625 112 913, 77 Miscellaneous ....... 17,011,57 23,63S, 6G l. Aggregate ........ s257, 76s, ,s7S s274, ,o34, ,sl r Expenditures
 r Ordinary. ..,.s1s4, ,46S ,452 s161, ,OSs, ,2s e Surplus .......... SIPS, ,3OO, ,426 SIP, 946, ,6t u Interest public debt. 102, 500,S74 105, 900, 0t Net surplus $20 799 552 S7 o46 SC