Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1892-12-15
UNCLE SANS FINANCES.

Annual Report of Secretary Foster Be.
fore Cong ess.
WASHINGTON, D. c., Dec. THE an
nual report of the secretary of the
treasury shows that the government
revenues from all sources, during the
past fiscal year. were 1926, sos, 26O, and
the total expenditures $4l5, $685.
SOC, leaving q surplus of So
914,4 With the cash bal
ance, the national bank redemption
fund and a few small items added.
this surplus was $40, $50, 46S, which
was applied to the payment of
the public debt. AS compared
with the fiscal year 1891, the receipts for
1892 have fallen off So, 6.5, 972, the princi-
pal losses being customs receipts So. 069,-
"A, ana IN profits on coinage. 1851 ,479.
On the other hand there was a gain Of
ceipts, of $4,99S,tsO IN postal service.
and 10 sales Ut District of Columbia
bonds OF S2,412. IA. In the ordinary eN-
penditureS there was n decrease of $iO,
S49, 354, which is accounted for by dlmln-
iShed payments for discount taxes, refund
OfeXceSSive customs. deposits, drawbacks,
census, quartermasterS' supplies and IN
terest on the public debt, the decrease in
the last Item alone being Sl4. 1G9,Ol9
=
are estimated as follows: From customs,
$1yS, 000,0 900; from internal revenue, S169,-
O00, 600; from miscellaneous sources, S2O,-
00C, 900: from postal service, $50, $50, S5O. II;
total estimated revenues, S463, 556 35O.44.
The expenditures for the same period are
estimated as follows; For the civil estao-
lishment, $1US, 5000, 900; for the military es-
adjustment, ..S49, 100000; for the Indian
service, $,O0O,OO0; for pensions, S15s, OoO.-
600; for interest on the public DEBT,
$26, 100000; tor postal service, $50
$50, $50. IA; tstal estimated eXpendi..
lures, $461, SGT 1904 leaving an estimated
surplus for re year of S2,OO0000. The
available cash balance in the treasury at
the end OF the present fiscal year is stated
at S120, 992, 3377.3O The revenues for the
fiscal year 1894 are estimated at $3.50, III
365. and the appropriations required S15l,-
261, 1885, exclusive Of the sinking fund. or
an estimated surplus of S32, S6O, OSO;
| which with the cash balance above gold
reserve would make the available balance
$53, $50, 4O7, and deducting accrued or ac-
cruing obligations (n.ail contracts and re-
demplionS) would leave the balance $41,-
S52. 4O7. Chareeablc against this are UNI
expended river and harbor and ordnance
| authorizations amounting to $4,000, 900,
| and no account is taken of the sinking
fund requirements, amounting to $4S. $780,
90, beyond redemptlons estimated at
| S5.O00CO0.
| luC cSG1IldlCu IcCclpGS, says ScclCIdly
| Foster, are based upon conditions prevail
| ing prior to the late election. Public ODin-
| ion having decreed change of policy,
| particularly in the tariff laws, the altered
| conditions resulting therefrom render it
| impossible at the present time to
estimate the annual income with
any marked degree of accuracy, and 1t
| is impossible to predict the effect that such
| proposed radical changes would have up
! on the future revenues of the government.
| The secretary further says that he will
not estimate further, but that the lneVita-
Bile result of the tariff reduction agitation
will be falling off in importatiOns and in
revenue, the extent of which no one
can measure. lie does say, however,
| that all the facts fully justify
| the opinion that the large increase of re-
| ceiptS ascribed to the marvellous prosperity
| of the country under the present revenue
| system would, ii continued, enable the de-
partment during the coming fiscal year to
| meet all obligations without the slightest
lmpairments of its cash, and thereafter
| continue to show a material Improvement
| in it's condition.
| Touching the sinking fund act, the re-
| port states that up 10 June ~. last, $500.
! 51O,6S1 more than is required by law has
! been credited to the fund. lie recon-
mends the repeal Of the act OF March ),
1851, authorizing the application OF sur
+! plus money to the purchase or redemption
| OF United States bonds, III view OF The
very large decrease in the national debt
| already effected and the probable future
/ condition Of the national finances.