Savannah morning news. [volume] (Savannah) 1868-1887, 1882-04-08
paauetl0u AZ tie National Debt.

REDUCTION OF the catiOaal DeDt'
A comparison of the public debt state
ment issued on the first instant, with
that of the corresponding date one year
400 shows a decrease of the interest
bearing debt to the amount OF over
Sf4S. OOO, 600, while the average reduc-
ton of the total Indebtedness OF all
classes was 1925, 600, 900, and the reduc-
ton of the total debt, less cash in the
Treasury, $147, OOO,O 900. 1t is also stated
that so far as this reduction is concerned
the current fiscal year bids fair to be the
most notable il the financial history of
the government. During the first
three quarters just ended near
" $119, 100000 of bonds were
cancelled, redeemed and destroyed, and
should redemption be continued at the
same rate during the remaining quarter,
the total redemption for the fiscal year
will amount to over $13S, 600, 600. During
the past nine months the reduction of
the debt. less cash in the Treasury, was
over STA, OOO, 900, or at the rate of $152,-
DOC. 900 per annum, while the outstand-
ing principal of the debt was reduced
over SOB, OOO,O 900, or at the rate OF
$137, 900, 600 for the year. Only in one
year heretofore has the reduction ap-
preached these figures, and that was
during the fiscal year 1871, when it
amounted to 1926. 900, 900.
The receipts and expenditures of the
government during the past three quar-
tiers of the present fiscal year are also
considered as specially noteworthy. The
receipts for the nine months ending on
the 31st ult. from customs, were in round
numbers $167. O00 900, or nearly $780,
O00. 900 in excess of the receipts for the
corresponding period of the last fiscal
year. The internal revenue receipts were
over $1O5, 600, coo, or IS, 600 OO0in excess
of the receipts for the first three quar-
tiers of last year; and the miscellaneous
receipts were over $27, O0O, 900. or s.. 0O0,.
900 greater than for the nine months OF
last year. The total increase during the
nine months amounts to over $33 000,-
O0O Assuming that the receipts will be
as large from the several sources during
the last quarter of the current year a;
they were during the last quarter fathe
last fiscal year, the total customs revenue
will reach $217, 900, 900 for the present
year, the internal revenue $144, 900, OOO
and the miscellaneous $33. 900, 900, q
total of 1894. 900, 900, an increase Of $780,
900, 900.
The expenditures, exclusive of interest
or principal of the public debt, were
$193, 900, 900, as against $204, 000,0 900 fol
the corresponding period of last year, a
decrease of 81. 900, 600. If the expendi
lures of the remaining quarter OF the
current year equal those of the last
quarter of the last year, the total for the
year will be $3.50, 900, 900, or $50, coo
less than Secretary Folger's estimate.
These figures furnish food for refec
ton. The last Democratic Congress
the 46th-voted the appropriation for the
current fiscal year. and although the
Treasury was filled to Overlooking,
and Congress was compelled to make
extraordinary appropriations for pen
sions, and to meet the expenses OF
the last census, the public welfare was
carefully consulted and all extravaganza
of expenditure was scrupulOusly guarded
against. 1t was by the adoption of this
course alone that the Democratic Senate
and House enabled the government to
easily reduce the public debt this
year to the amount above asentioned.
It remains to be seen whether the pres
ent Republican Congress will make so
creditable a showing next year. AT
present the indications are that 1t will
not, since it is increasing the aggregate
of every appropriation bill, and is show
ing disposition to be extravagant in
every possible direction, entirely in keep
ing with the past record of the party.
If this extravaganza is persisted in, the
ability of the Treasury Department to
make a large reduction in the public
debt next year, will, Notwithstanding
the large surplus revenues coming into
the Treasury, be very seriously i'm
paired