The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-12-09
1905, $50. 97O.54
$l7,S59,735.84


As compared with the fiscal year 1884. the
septs for 1885 have decreased $24 500, 1854.
The principal items of decrease were: Customs
sales of public lands, ST., 1O4 1857. The profits
coinage showed an increase Of 81, 500. 675.66:
There ere was an increase in the expenditures OF Slo
495.34; pensions, $673 o39;43;. civil and miscel-
srease were: Navy Department. ST, 271, 52l77; in
forest ON public debt, $3 1872 122.O1.
For the present fiscal the revenue, actual and
estimated is 3 Is, 600 OOO Of this it is estimated
that $40 O0O, 900 will be received from customs;
SIG 600, 600 from internal revenue, and S5 600.
200 from sales Of public lands The expenditures for
10Y leaving an estimated surplus OF $24,2 800
quires per centum of the entire debt Of the United
Estates to be annually set apart sinking fund and
apped to the purchase payment of the public debt
Fin such the Secretary of the Treasury may
rom time to time direct together with equal to
the interest all bonds redeemed and the act of
IT, ISIS as s that
Horm part of the sinking fund
Under the above provisions of law, United States
bonds aud fractional currency to the of $45
1904 O354 3 were redeemed and applied to the fund
during the past fiscal year.
The requirements of the fund for the present fiscal
years, viii aggregate $IS. 900, ooo. Il is beeyeJ
However, that tho intent of the law will be fully
piled with il, in determining the amount to be applied
keuency certificates which are held in the Treasurers
cash well the cash in the Treasury available for
the reduction of tho debt and the amount held as
reserve for the redemption of United States notes
under the resumption act. shall be deducted from the
outstanding principal of tho debt aud the bonds issued
to the several Pacific railroads added thereto. The
amount required to be applied under this method
1ncuding interest on bonds previously redeemed, is
estimated at $i5, $50. 900.
On Nov. l, 1884 the outstand bonds of the 3 per
cent. loan of the act of July II 1892 amounted to
$2O4, Is. 25O Of this amount, $4,000, 600 had
| The reduction in the annual interest charge by
treason of the changes during the ended Oct 81
1885, is as folws:
kOn bonds redeemed or interest ceased 5000 S62 so
sDeduct for interest on 4 per cent. bonds
! issued OBSERVATION-DISCLOSURES. 1890
Net reduction ACKNOWLEDGEMENTS 5000 $50 so
! The indebtedness of the United States on March
1885. including therein the bonds issued to the
Pacific railroad companies. was as follows:
Interest bearing debt. 81 ,26O, 772, 6l2O0
Accrued interest to
., date IL; -; ~: s.ssd'a7eoo
presented, and
Debt bearing no int. sOs,sl5'443s7
Total $ 81 1884 s78. 1894
Cash in Treasury. 379, log, 353.4O
Amount of debt less cash in Treasury 1 I'll sa a.
The Indebtedness of the United States
November l. 1885, including
therein the bonds issued on account
of the Pacific Railroad Companies
was as follows:
Interest bearing debt. 81, 26O, 77s, 1920
Accrued interest to
Mstured debt not yet
presented and
crued interest: -.- 1858. 6S9.76
Debt bearing no int. 574,ol2, 535.SS
Total. ----..--.-. 81, S4s, $40. 1854
Cash in Treasury 400, 6S2 1876
Amount of debt less cash in Treasury 90
Reduction of debt during above
period. SOS, 054 245. So
The total assets of the Treasury on March A. 1885
nvere $2lO 663 GIL Is. and the total liabilities,
$2O1, 500 Oh, leaving net balance of So, 764,,
$50 IL. On the 1st Of November, 1885 the surplus
was $6e, Sls 2923s The balance in the Treasury
mas therefore been increased within the above period
By the sum of $58 053, 702.27.
; Owing TO the large movement of moneys caused by
Che exchange of standard silver dollars for silver GER
1cacs the deposits of legal tenders in exchange for
Alike certificates and the redemption of fractional sill
con the duties of the officers and employees of the
Aiferens sIa srensures have greatly increased. and
wouid, therefore, recommend that inquiry be made by
Congress TO the present condition OF these Offices
aud such method of relief be adopted as may DO
deemed proper.
review Of the several groups Of laws, which it is
1he duty OF the Secretary of ths Treasury admins
Ier: manfests as inquiry into the business of the
country uoes inc grave need of reform in the state of
ne currency and in the present scheme of orr taxa
Zion Both are legacies of war. They are unaccount
ace exsep. oy the light of the events which afforded
Hnsf origin and their excuse. Their continuance for
go long ume since though discreditabe is perhans
oy tnas degree OF prosperity continuing de-
Gibie wherever large standing armies and costly wa
fleets an annual expense and wheremorarast
OF aau trade entails heavier burdens
though in fact ever since the war IL has been ;nt
erably abridged by an unwiss financial policy. But
Che continuing depression universal VARYING depreos
over the wgrld 9bges US all now to consider and un