Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1883-12-05

Il
laneous, including -- #e
public buildings, .es<:-,~.-s-z--,=
light houses and coll ssge~Szzs=Es.s<f
lecting the revenue '"
for quarter ending
Septem der 80, 1883,
actual, 1885, 799 - s51,114, 200 50
For For eps5 1sS85ssH s. ss419sS @ %
For military establish
ents, including
Notifications, river
and harbor improve
ments and arsspals. 1a,5la,2o4 80 26,487,7s5 81
For naval ests blish-
is, including
vessels and machin-
cry and improve
ments at navy yards 4,1ss, 299 SO 1880, 700 81
For expenditures
account of District
of Columbia....... 1,13s,836 IL 2,611,163 SO
debt 14,797 ,297 90 ss,7O2,7o2 o4
Total ordinary ex-
penditures. -. 67,942O9O SO 19O,O57, 9o9 81
Total receipts, actual
and estimated. 343, 00O, 600 90 ...........
tai expenditures,
actual and estimated 258, 000, 600 90
Total ............... 100000 90 .............
Estimated amount
due sinking fund. 45,816,741 OF ,...,........
Leaving balance Of. Sc, 1873, 258 SO
The Surplus Revenue.
If the revenues for the fiscal year which will
end on June 80, 1855, be estimated upon the
basis of existing laws, the secretary is of the
opinion that fer that year the receipts will ex-
coed by 1000, 600 the ordinary expenditures,
including the amount devoted to the sinking
fund. Hitherto the surplus, as rapidly as it has
| accumulated, has been devoted to the reduc-
ton of the national debt; as result, the only
bonds now outstanding which are redeemable
at the pleasure of the government are the three
per cents, amounting to $305, 900, 900. The
AZ per cents amounting to $3.50, 000,-
600, and the 1871, 100000 of 4 per cents
are not payable until 1891 and 1907 respective
ly. If the surplus shall hereafter be as large
as the treasury estimates now indicate, the 8
per cent bondB may all be redeemed at least
four years before any of the AZ per cents. can
be called in. The latter, at the same rate of
accumulation of surplus, can be paid at ma
turlty and the monies requisite for the re
demption of the 4 per cents. Will be in the
treasury many wears before these obligations
become payable. There are cogent reasons,
however, why the national indebted
ness should not be thus rapid
" eXtinguished. Chief among them is
the fact that only by excessive taxation is such
rapidity attainable. In communication to
the congress at its last session, recommended
that all excise taxes be abolished except those
relating to distilled spirits, and that substantial
reduction also be made In the revenues from
customs. statute has since been enacted by
which the annual tax and tariff receipts of the
government have been cut down to the extent
of at least $50,000,000 or $50, 600, 900.
While l have no doubt that still
further reductions may be wisely made, I
do not advise the adoption at this session of
any measures for large diminution of the ma
tional revenues. The results Of the legislation
of the last session of congress have not as yet
become sufficiently apparent to justify any rad
zeal revision or sweeping notifications of the
existing law. In the interval which must
eIapse before the effects of the act of March 8,
1a83- can ha definitely aanartained- a portion