Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-12-07
EXCELLENT
SHOWING.
Report of Secretary of Treas
ury Reflects the Cen
eral Prosperity.
THE DEBTOF THE NATION
Growth of the Commerce ofthe United
States-Increase In Our Exports
Need for Adequate Reform
In Currency system.

Washington, Dec. e.-(By Associat-
ed Press 1.-The report of the secretary
of the treasury was sent to congress
today.
1t shows that the revenues of the
government from all sources for the
fiscal year, ended June 80, 1899, were
s$61O,9S2,004. The internal revenue
yielded $273, 457,1 61; customs, $206, 1885,
4s1. The profits on coinage bullion
deposits, etc., were $4,o16,531, and the
fees, consular, letters-patent and land,
$2,sO5,435; tax on national banks, ST.
g912,411; sales of public lands, $1,6Ts,-
246; sales of Indian lands, $1,476,175;
tax on seal skins and rent of seal is
lands, $1,116,911. The receipts from
the postal service were S95,031,3s4.
4 Expenditures.
The expenditures We're $700,O93, 564.
The civil establishment expenses were
5$9o,979,6s5; military establishment,
$229. s41. 254; naval establishments,
S63 ,942, 1o4; pensions, $139,304,929; in
terest on public debt, S39,s96,295; pos
.tal service, $103, 1889, 954.
The deficit was sos, $50.
In addition to the revenues collected
the cash in the treasury was increased
1904 ,005,514 by the sale of 3 per cent
bonds, $19s, 67S,720, and from national
bank funds deposited in excess of bank
notes redeemed, $5,324,234.
The securities redeemed on account
of the sinking fund amounted to $751;
273.
Receipts.
As compared with the fiscal year of
1898 the receipts of 1899 increased
$I16, $50, the principal items being
internal revenue, $102, $50, $50; customs,
S56,553.419' and postal service, $6,00s,-
765. There was a net increase of $161,-
703, 579-that in the civil establishment
being So, 670,T50; war establishment,
$137 ,S49.254; the naval establishment,
$5.11S,12o; Indian service, ,S11,043;
interest on pubic debt. $2,311,s SOS.
There was a decrease of $S,057, 430 on
acsa,sat sofsp elisiSGs,.s ,5.,
ss The revenues of the government for
the current fiscal year are estimated
upon the basis of existing laws 10 be
s$640.95S. i12, and the expenditures
$600,95S. 112-a surplus of $40 900, 900.
The revenues for 1901 are $667 IT'S, 253,
and the estimated appropriations re-
quired exclusive of the sinking fund
are $6S5,S55, 44S-an estimated deficit
of $1S,0S0,1 1874.
Itis believed, however, that congress
will be able to reduce the estimate to
such a point as will bring the eXpen-
ditures within the estimated revenues
and leave a fair and substantial mar
gin for surplus
Large TRANSACTIONS.
The transactions of the fiscal year
were of unusual MAGNITUDE, the net
ordipary receipts having been exceed
ed in any like period but once, in 1866,
and the net ordinary expenditures but
thrice, in 1868, 1864 and 1865. Inclus-
iyeSof the amounts involved in the is
sue and redemption of bonds, notes
and certificates, the gross receipts were
$l03s, $40. and the gross expendi-
lures, $946,222 ,14S. There was, in con-
the general treasury balance, which i'm
creased from $775,751, 36s to $s69. $780,
500. These operations were conducts
ed through the Offices of the treasury
numbering ten, those of the mint in
creased during the year from eleven to
twelve, and the depository banks, of
which there We're 172 at the beginning
of the year and 357 at the close. The
aggregate of money handled by the
treasury Offices alone was $2,393, $780,
747 in the receipts and $2,371 1888, 6s9 in
the disbursements.
While there was 4 deficiency of $780,
111,55S in the ordinary revenues, the
excess of receipts over Disbursements
on account of loaps was sufficient to
realize net surplus Of $1oo,791, 521, as
the, result of the fiscal operations of
the year. This substantial addition 10
the available resources, together with
the steady advance of the receipts
from taxation, to -, -tiIal excess over
current needs. has relieved the treas
ury of all danger of difficulty from
sudden emergency. Nor was the
growth of the available cash balance
which stood at 1884, 4ss.516 at the close
of the year, more wholesome than the
improvement of the character of the
assets which were converted into gold
as far as statutory and other limita-
tons would permit.
The National Debt.
The interest bearing debt July 1,
1s99,included unmatured United States
bonds outstanding in the amount of
s$1,046,010,920. This is an increase of
$19s,6s4,970 over the amount outstand-
ing July !, 1898, and is caused by the
issue of the 3 per cent, 1920 loan au-
thorized BY act of congress approved
Ggkz.zAAE y p.