, 1888-10-18


tary Thompson Of the treasury in speaking
this afternoon in regard to the probable
condition of the treasury at the end Of the
present fiscal year, said. 1.-The appropri-
alton bills having been passed by the
present congress some estimate
can now be made of the prob
able surplus of the revenue for the
fiscal year ending June 80, 1899, over the
expenditures for the same year. Estimat-
ing on one or two minor items, the
amount in the aggregate is S406, 900 900
with the estimated expenditures from the
annual appropriations which are put at
S1l5, $40, 79S, making total of S42l ,640.-
79S. The total estimated revenues are
$44O, 800 900, making an excess of the rev.
enue over the total of the appropriation of
about SIS, 900, ,000 but this by no means
represents the actual surplus of the reve-
nue. for the current fiscal year. A careful
estimate shows that of these appropria-
tions, which are specified and continuing
appropriations, there will be at least S37,.
600. 900 which will not and properly cam
not be expended this fiscal year, which
makes the actual surplus 5000, 900.
which is substantially the same amount
estimated by the secretary in his annual
report. But even this does not fairly rep.
resent the surplus revenues for the fiscal
year of 1889, for, in the appropriations
above stated. there ls included the sum of
ubcut SIS, 100000 for the deficiencies in
the appropriations of 1888, prior
to the years which should be
OF congress, and paid out of the
surplus revenues of former years. This,
added to the above sum of $4,000, 900,
increases the surplus revenues of 1889 to
$4,000, 900. This does not include the
balance which will be covered into the
treasury on the 30th of June, 1889. of
the nexpended appropriations of 1899
and prior years. which, according to the
careful estimates made, will not be less
there is included nearly S48 ,000, 900 for
the sinking fund which is really part of
the surplus revenues. and IL added, will
make total of 1922 600, 900 of revenue in
excess of the actual and necessary expend-
itures OF the government for the fiscal
year 1889, which would make the actual
increase of the surplus at the end of this
year Sl04 900 900. The estimates of the
unexpended balance at the close of this
fiscal year, given above, is extremely low
| compared with the actual balances which
| have remained unexpended in prior years
| For instance, June 80, 1888, the unex-
pended balance of the appropriations for
that year was S75, ,514 900; on the 4th of
June, 1887, $84 97l. .S95, for the fiscal
year which ended on that day. and for each
of the years of 1886 and 1885 it was over
$4,000, 900. The above statement has
reference to the excess of the revenue for
the present fiscal year over the expendi.
! lures for the same time, and is independ.
ent of the surplus now in the treasury
amounting to S97 ,934, ,305, including S243,-
475.48 of fractional coin. Any portion of
the present surplus not expended within
this fiscal year for the purchase of bonds
must be added to the Sl04 900. 900 to ar
rive at the actual surplus which will re-
main in the treasury on June 30, next.
With respect to the probable revenues for
the fiscal year Of 1889, the books of the
treasury show that during the present
fiscal year, up to and including October 10,
the daily receipts have aggregated Sll3,-
9S6 ,666, AZ against $ll5. .S6S.473 for the
same period last year. The falling off is
only 81 1881 ,s07 which may be made by
the increased receipts during the remain
der of the year, while the decrease is not
more than usual during the few months
Immediately preceding the presidential
election. There is, therefore, no reason to
believe that the actual receipts for the
fiscal year of 1889 will fall below the esti
mated receipts. In view of the increased
activity in all branches of business it il
believed that they will fully equal. if no,
exceed, the estimate.