New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-05

The requirements of the sinking fund for the past
fiscal year. including balance of slG,3oos73 AZ from
the preceding year. have been fully met is estimated
that the requirement for the present fiscal year VIII be
S44422 $50 25 OF which there has been applied during
the fIs, four months of the year, the sum Of
SCI, l9G.3j0
There seems TO have been confusion minds of
the sumo nad 10 meet the lawful needs OF the sinking
fund ana those paid the reduction of public debt by
direct PAY and redemption thereof To my report
OF LAS year was appended table Gable II OF all the
moneys paid for bonds for the sinking fund and table
Table slowing the condition Of that fund from the
beginning of II in May, 1862 down 10 June 30 1851
II was stated In my report that there was balance then
due tie fund Of Sl63O5s 73 A. 1t has been said that
this was erroneous The report OF ms predecessor, MI
Secretary Morrill, made in 1876, relied upon as 80
showing flo said that the terms of the sinking fund
act requed that the public debt shouid be reduced by
the close Of the fiscal year in 1876 by the sum of
S4S3 54s. 215 ST. that the public debt had however
been reduced al that by the OF 902226 IA
or over two hundred and twenty three millions more
than those required. He did not say, nor did he
mean to say that the reduction he announced was
achieved through the operations of the snk1ng fund
What he -sid and meant to say that. though the
,inkng fund mad not been filed TO the enonnt contem-
plated by TIE act of Congress which provided for IT,
and letter Of the law had MOI been observed yet
that by other modes the puoc debt had been reduced
by more than the which the sinking fund act con
templaCd aud the spirit and intent OF the law nau
been met and faith OF the GOyernmcnt with its cred
tors kept And So after his time. though the sinking
fund has been creditor. the public dent has been de
creased by than strict adherence to the sinking
fund act would have brought about; Ny predecessor,
Mr. Secretary sherman reported IN 1877 deficiency In
the sinking fund but reduction az public debt near
TWO hundred and tweDty-one millions more than the
sinking fund act. literally carried out. would have
effected
Compared with the previous fiscal year. the receipts
for 1882 have IN the following items increased
s44S7s 99 In customs revenue. S2225l 054 %; I'm
internal revenue 81 .233 200 "a; In sales of public
lands S255l 277 20 in direct tax S15s624 S0 in tax
on circulation and deposits of National banks,
ss4O6 7s 10; in Cecds Of sales of Government prop
erty Sj27s5 85i in repayment OF interest by Pacific
railway companies, S28.72O 81; i'll consular fees,
S. 922 9S; Ia Custom House fees, - .53S 3D. I'm Gus
emolumen fees, $3.50 os3 as IN Marine Hospital
tau SO; IN Indian trust funds. interest and pre-
num So 753SOs 20; in deposits by individuals for sur
veying public lands $24s 100 81 ia registers and
ceiyere fees S243 295 20; IN fees OH leters.patent
Slil 7sS T.; in profits coinage, 20s IL; and IN
saes OF ordnance material and small stores S232 "a
OF he District OF Co.uuIDa 1901 022 So la
sinking iund for Pacific Railway Compsnics So 000 IS
insteGmboat fees, S27O6A 81 In sales of ntan lands
S6 on s 81 ne and
liz tbi receipts from all sources OF s42 42957 IL
Ine res SHOW decrease oyer we, sne previous
inent, SGjI.G25 40; ia interest on the public debt
s1l,43l,53t SCI aud in civil and miscellaneous
follows IL tho War Department. So ,033 "a Tor
Indians So 222 500 and 10 pensions ST. 2s50Ii 49,
making net decrease IN the expenditures Of
FISCAL YEAR 1883
FJ the present fiscal year the revenue actual and e.
titnated is as follows: