The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-04-13
National Finances.

The following summary of the admirable
management of the finances of the country is
taken from the Washington correspondence of
the Richmond State. From it will be seen the
effect of Republican policy and the benefits
resulting from Republican craftsmanship:
A comparison of the debt statement issued
Saturday with that issued one year ago shows
that during the last twelve months there has
been decrease of interest bearing debt to the
amount of over $14S 100000. The amount of
bonds actually redeemed was nearly $142, 000,-
900. The aggregate reduction of the total in
debtedness OF all classes was $125 100000, and
the reduction of the total debt, less cash in
the Treasury, was over $147,000,000
so tar as the reduction of the debt is con-
cerned, the current fiscal year bids fair to be
the most notable year in the financial history
OF the Government. During the first three
quarters just ended nearly one hundred and
nineteen millions of bonds have been redeem
ed, cancelled and destroyed. If this rate Of
redemption should be continued during the
remaining quarter, the total redemptions for
the fiscal year will amount to over one hun
dred and ffty-eight millions. The reduction
OF the debt, less cash in the Treasury during
the nine MONTHS has been over one hundred
and fourteen millions, or at the rate of one
hundred and fitty-two millions for the year.
The outstanding principal of the debt has
been reduced by over one hundred and three
| millions, or at the rate OF one hundred and
thirtyseven for the year. The largest previ-
Gus annual reduction of the principal took
place during the fiscal year 1871, when it
| amounted to one hundred and tWenty-six mil
lions.
Not less noteworthy are the official figures
obtained Saturday from the Treasury Depart
ment by your correspondent relating to the
receipts and expenditures of the Government
TOR the first three quarters of the current fiscal
year. For the nine months ended YESTERDAY
the customs receipts were, in round numbers,
$167 100000 or nearly 20,O00, 900 in excess of
the receipts for the corresponding period of
the last fiscal year; the internal revenue re-
cepts were over $105, 100000, or S. 900, 900 in
excess OF the receipts for the first three quar-
tiers Of last year; and the miscellaneous re-
ceipts were over $27 100000, or $4,000, 900
greater than for the nine months Of last year
The total increase during the nine months
amounts to over $33, 600.
Assuming that the receipts will be as large
from the several sources during the last quar-
ter OF the current year as they were during
the last quarter of the last fiscal year, the total
customs revenue will reach $217 900 900 for
the present year, the internal revenue $144,
000,0OO, and the miscellaneous $4,000, 000-a
total of 1894 ,0000 900 or an increase of over $685.
900.
During the nine months just ended, the ex-
penditures, exclusive of payments made on
account OF interest or principal of the public
debt, were 100000 as against 1901 ,OOO,-
600 for the corresponding period of last year,
a decrease of 81 100000. If the expenditures
OF the remaining quarter of the current year
equal those OF the last quarter of last year, the
total for the year will be $3.50 900 900, or 500,
100000 less than Secretary Folgers estimates.