Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1892-01-30
UNCLE SANS FINANCES.
Secretary of the Treasury Befor
Ways and Means Committed.

hsbistbht sttictoty VI ~ LEOdsuEN beIOT0
Ways and Means Committed.
WASHINGTON, Jan. 23.-The ways
and means committee held a special
meeting this morning to hear Assistant
Secretary Spaulding, of the treasury
department, who appeared by request.
to inform the committee concerning
the financial condition of the
government. Chairman Springer
in calling the meeting to
order said that Assistant Secretary
S~paulding appeared in place of Secre-
tary Foster, who was i'll. The assist.
ant secretary said that he had prepared
a statement giving the receipts for the
first half of the fiscal year and also for
twenty days in January.
For the six months ending December
81, 1891, the customs recei>ts were
SIS, 722, 900; for the twenty days in
January, 1892, Gil, 900, 600, making a
total for the six months and twenty
days of S97, IT'S, 900
The internal revenue receipts for the
six months ending December 81, 1891,
were S77,0 57, 900; for the first
twenty days in January, 1892, 81, $685.
900; total for the six months and
twenty days, Ss4, 565, 600; total for the
year 1892 as estimated, sl52. 600, 600.
The miscellaneous receipts for the
above period were St2, 697, 600.
The total receipts from six months
of the current fiscal year were Sl74,-
131, 900, against $l92, s97, 900 for the
first SIX months two years ago. The
first twenty days of the present month,
$50, 500, 900, against S2l, $50, 900 two
years ago.
Total revenue estimated for the cur
rent fiscal year, S362, 600, 600, against
$403, 079, 900 two years ago.
The actual receipts Of Sl74, Isl, $50
for the first six months of tho current
fiscal year were about s., 600, 900 more
than the expenditures for the cores
bonding six months, the expenditures
being S167. 074 900.
The expenditures estimated for the
current fiscal year were S33s, 900, 600, or
about S24, 600, 600 less than the esti-
mate receipts Of S3G2, 900, 900.
In answer to Mr.. Springer, Mr..
Spaulding stated that postal re-
ceipts and expenditures were
not included in his statement,
but that the deficit in the postal
department had been included
in the expenditures, so that
the surplus shown was not
affected. Mr.. Spaulding, in answer to
a question, said that the figures did not
include the sinking fund.
Mr.. S%paulding said, in answer TO
questions by members Of the commit
tee, hat in order TO make up the re-
quirements of the sinking fund that
the treasury would be obliged
to pay $40, 900, 900 out of the total
total surplus. He considered as avail
able for the expenses of government
the 500, OOO, 900 gold reserve held for
redemption OF grcenbacks. IL that
amount was paid he thought the green
backs could be redeemed.
Mr.. Spaulding said he did not con-
slider the bonds extended by the treas
ury current liabilities of the govern
ment, because it was optional
with the government when they
should be redeemed. In response TO
Mr.. Turner, of Georgia, a member of
the committee, Mr.. Spaulding, said
hat If the fractional silver fund and
the gold fund were taken out, there
would be neither a surplus nor n de-.
felt; the receipts and expenditures
would just about balance,
Incidentally, Mr.. S%paulding stated
that the estimate for river and harbor
improvements next year was $40, 0O0.-
300. lie also stated that at the close
of last month the treasury had paid
upward Of 81, 900, 900 in silver bonds.
Mr.. Spaulding said he believed the
treasury would come out about SO, OOO,-
900 ahead, that is il would have that
N mount nf ptlx,ar nt tla aud pf 1909