The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1893-01-26
Chairman Springer Receives One from
Secretary Foster Regarding Ma
ti0nal Finances.
The Surplus OF Revenues Over Ex9en'
ditures the Past Year Amountea
to S3,S4S,2O9.
The House subcommittee Making
| Vigorous 0nslaughts on Present
Pension Laws.

WASHINGTON, Jan. 26. - Chairman
Springer, of the ways and means com
mittee, has received from Secretary
Foster, of the treasury department, the
statement that he has been expecting
for some time, showing the condition of
the treasury and its estimated condition
at the end of the present, and at the end
of the next fiscal year. The statement
shows that during the first six months
OF the present fiscal year the re-
ceipts from all sources were S23I. 419,2I5,
and the expenditures $3.50. 571 ,006, lesv-
ing an excess of revenues over ordinary
expenditures of $3.S4S. .209. The caslin
the treasury. including gold reserve,
July |, 1892, was $l32, ,143. .426, and On
Dec. 81, 1892, $129, ,092, ,5ss.
=. Estimated Revenues.
The total estimated revenues for the
fiscal year ending June 30, 1898. are
1886, ,671 $50, and the total estimated sx-
penditures $464, 671 $50, leaving an eati-
mated surplus of receipts over expendi-
lures for the current fiscal year Of 50,
000,00 The estimated cash balanee
available June 80, 1898. isplaced at $1ssl.-
992,377, which includes $100,00n,- =
600 for the gold reserve
fund. For the next fiscal
year ending June 80, 1894 estimates
that the revenues from all sources VII
amount to &a90, 12l ,365, and the esgl-
mated expenditures. which, however,
do not appear to include miscellanecIs Is
and extraordinary expenditures, VT
451, ,26l 1887, or an estimated surplus ST
$32, 100000. To this the secretary adds
$20, ,092, ,377 cash balance above the gold
reserve available June 30. 1888, making
in estimated available balance on June
80, 1894, of s$53, 3,352, 407. from whie14
must be deducted IS. 600 600 for redansz-
ton of past duty bonds, fractional cur
rency and national bank notes. and
81 100000 Tor probable payments on
mail subsidy contracts, leaving the bal
ance $47, ,358. .40T.
Contract Liabilities.
There are contract liabilities of about
the amount of this balance, and it is es-
timated that $40,000.000 in contracts
will be payable in 1894, which would
bring the real working balance down to
81 1852, 407. The expenditures on account
of pensions estimated in this statement
for the next fiscal year amount to
$t65. 1881. $50, or ain increase over the
amount which it is estimated will be
spent for pensions this fiscal year of
only So, ,496. $50. In separate statement
showing the contract liabilities
existing Dec. 81, 1892. it is stated
that the liabilities on contracts
on existing appropriations is $50, ,473,-
933, of which it is expected that S25.-
259, 1853 will be expended in the fiscal
year 1893, and $40, 0,279, ,037 in the fiscal
year of 1894. The secretary's statement
for 1894 shows that the $40, 0,219, ,038 con-
tract liabilities is to be deducted from
the SAT 1852, 401 of balance above gold re-
serve estimated as available cash, but
it does not show clearly whether the
$85, ,259,35S of contracts to be paid in
1893 has or has not been deducted in
the estimate (above the gold reserve
fund.- of $40, ,992,477 as the estimated
cash balance available June 80, 1893
though it is presumed it was deducted
in figuring the cash balance. Very lit
tie is allowed to the sinking fund in
these estimates and a supplemental
statement places the estimated balance
due the fund June 80. 1894, at $95, ,90l, :
697.