The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1894-10-17
THE NATIONAL FINANCES
PUBLIC DEBT STATEMENT OF
THE TREASURY.

A Months Working Of the New Tariff
Law-Receipts and Expenditures
in Detail-A Surplus Of Between
$5O,OOO, 900 and $60,OO0,O0O is
Indicated.
The United States monthly debt statement
shows net increase In the public debt less
cash In the Treasury during September
OF $751; 1852, ,7oO.s4 The interest-bearing debt
increased $l40; non-interest-bearing debt
increased ss24, 4,1s2.s5, and the cash in
the Treasury decreased s7,22s, ,SS7.sS. The
balance of the several classes Of debt
at the close Of business on September 29
were: Intereet-bearing debt, S6S5, ,042, $40 |;
debt on which interest has ceased since ma
turity, 81, 1880. .030.26; debt bearing no inter-
est, $3.50, $685. 406. total, $1017, ,566, 1886. So.
The certificates and Treasury notes Offset
by an equal amount OF cash In the Treasury
outstanding at the end Of the month were
s612, ,4S6, 40, a decrease Of S2,914,102. The
total cash in the Treasury was S774, 135, ,928..
s.; the gold reserve was s58, ,875, ,217, and the
net cash balance s61, ,0A, 402.Ss. In the
month there was an increase In
ssl gold !. coin :p and bars Of s2,Ts,.
crease OF $3,352, ,977.s4. OF the surplus
there was in National bank idepositaries
1885. 598. OF, against S17 ,3s0, ,s97.20 at the
end OF the previous month.
The first months receipts Of the Treasury
Department, those for the month OF Sep
tember, under the operation OF the new
Tariff law were made public, The aggre-
gate receipts for the month were s22, ,621, 1888,
as compared with S24, ,5S2, ,756 for the month Of
September, 1898. As compared with the
month Of August, 1894, when the receipts
from internal revenue assumed abnoral pro.
portions because OF the large Withdrawals OF
whisky In anticipation Of the increased tax
Of twenty cents gallon, they are In round
figures S1s, 900 less.
According to the estimates upon whi,hthe
new Tariff bill was based, It was to produce
from sugar s43, ,000, 900 q year, and from the
income tax placed at q minimum figure $15,-
600, 900 q year. No revenue from either Of
these sources is shown In the receipts of the
month Of September for the reason that the
income tax does not become operative
until January J., 1895, and three or four
months supply Of sugar was imported prior
to the passage OF the now law, In anticipa-
ton of the ad valorem tax placed upon #.
Upon the basis Of the estimates submitted,
and upon which the Tariff bill was framed,
the revenue from each OF the two principal
sources-customs and internal reve-
nue-was put down at S179,000,000 a
year. For the three months Of the
present fiscal year the total receipts have
been S97,s4S.174, as against $79.S79, AIT
for the corresponding months OF 1893. OF
the receipts in the current fiscal year TO
date, sS5, ,797, ,24S has been from customs, or
at the rate Of s140, 0,0o0, 900 year, and in
ternal revenue, S5s, s44, ,s16, or at the rate Of
s2o2,ooo, 900 a year, slightly In excess Of the
total estimate OF SS7S, 100000, upon
which the Tariff bill was tased,
from these two items. leaving mis-
cellaneous revenue of s20,000,000 as a
surplus. From present indications, when
revenue from sugar and the income tax be-
gins to be received and customs and internal
revenue receipts assume their normal con-
ditions, a surplus for the fiscal year Of be-
tween $50 1000, 900 and s60,00O,000 at the
present ratio existing between recsipts and
expenditures Is indicated.