The Republican journal. [volume] (Belfast, Me.) 1829-current, 1882-05-18
The National Finances.

we recently published figures showing the rapid
progress made in paving off the national debt
and the gratifying decrease in the annual inter
est charge. Some further statistics are here
with printed. The interest bearing Indebtedness
of the nation on the first of May was as follows
Bonds at 80 per cent, (redeenablc
now. 49O6 $50
Bonds al Az per cent, lredeemabe
in e9D. Observation-Disclosures. $50 900 900
Bonds at per cent, (redeemable in
lNI........ ACKNOWLEDGEMENTS. 49, 500
Refunding certificates. 493, 600
Navy pension fund. Observation-Disclosures, IA 900, 900
$l,494, 0i4, $40
ON August 3st. 1860. the Understanding
debt of the United States was at the highest
point, viz S2,3Sl ,530. 295. and the annual inter-
discharges thereon were nearly SOL .000, 900.
The Understanding debt is now 81 1874 .044. $50.
and the annual inerest-charge about S60. 600 900.
Thus in period of sixteen years we have re-
duced the bonded debt $685.. ~. 40, ettecting
thereby an annual saving in the interest charge
of about sol 900 900. In the same period there
was Il reduction in the non-nterest bearing debt
of ) 1863 311,j64, making the aggregate reduction
since August 81, 1865. over 81 200 900 900. The
number Of days including sundays, embraced
within the period from August 81, 1869 to May
l. 1882, is G,0S6. and the regularity and extent
OF the reduction in the public debt during the
period named will be more fully appreciated
when it is known that the decrease has average
over $4,000 every day. 4 table of indebted
ness Of various nations, prepared by Mr. Robert
b. Potter of the Census Bureau shows that the
United States is the only nation except Germany.
which imposed her debt on France whose in
debtcdnes> has been appreciably reduced the
past fifteen years.
The present condition of the Treasury is Gu
couraging. Secretary Folgcr estimated that
the receipts for the current fiscal wear would
be 800, 900; but from the receipts which
have been made. and the estimates for the re-
manning two months of the fiscal year, It ap-
pears that tie receipts will probably be S405.-
100000. Then, the very gratifying result will
doubtless be witnessed at the end of the year
that the expenditures have been less than the
estimates. Congress did not appropriate last
year the full amount of the estimates and the
departments have not expended the full
amount of the reduced appropriations The
reduction Of the public debt has caused a de-
creased expenditure in the interest charge of
about Sl0,000,000. 1t is now estimated at
the Treasury that the gross surplus for the
present year will be from $40 000, 900 to $40
100000, which is some $50 900 more than
the estimates. Making all allowances for the
sinking fund due the present year, and for the
arrears still due on account of former years, ii
is probable that the actual net surplus for the
current fiscal year will be $lOl 600 600 The
corresponding net surplus for the last fiscal
year, all sinking fund charges having been
deducted from the 800, 00O, 900, of gross sur.
plus, was $4,000, 900, so that in the present
OPINION OF the Treasury authorities the gain in
the net surplus revenue of the present fiscal
year over the revenue of last year will be S42.-
600 900.