New-York tribune., 1900-07-01
A GREAT YEARS WORK.
GRATIFYING CONDITION OF THE FED
ERAL TREASURY
SURPLUS OF OVER $50 SSO0OOoOO-STEADILY
INCREASING RECEIPTS AND DINiIN-
ISHING EXPENDITURES.


INCREASING RECEIPTS AND DINTIN-
IsHING EXPENDITURES.
IBY TELEGRAPH To THE TR1BuxE.l
Washington. June 30-The end of the fiscal
year 1900 finds the finances Of the United States
In a sound and satisfactory condition. With
available cash balance Of $154.42S,69S 80 in the
Treasury at the close Of business hours to-day.
an excess of receipts over expenditures for the
year amounting TO about SS0oOo000 and
steadily diminishing scale of expenditures there
would seem be no difficulty in keeping the
wolf from the National door for time at least
Other gratifying features of the net result Of
the years business have been the reduction Of
the annual interest on the public debt, the
breaking OF the endless chain" and the opening
OF an outlet for the natural expansion of the
circulating medium to meet the currency de-
mands Of different communities as well OF
the country at large
The total receipts of the Government. far
as reported Cnot including the postal revenues),
for the year ending to-day amounted to
S566.41T .347 4S Of which S233, ,491. .13S 81
derived from customs duties S294,212, ,63S 20
from internal taxes and S3S,7l3.570 n from
miscellaneous sources This a total in
crease Of $523 800 4S5 % the receipts OF last
year. The customs receipts increased by the
OF S27.572. .022 over those OF the previous
year. and the receipts from internal taxation by
the sum of 500. .43S, ,769.
The total expenditures for the year amounted
TO S4S7. 500, ,49S, which was S116S41474 less than
the total for the fiscal year ended June so 1899
These totals. It should be remembered. do not
include the expenditures on account OF the postal
service. which are paid out Of the postal
nues
The expenditures for the year ending to-day
are classified as follows:
civil and mis- Indians ...... s1o1ss21s 25
eelisneOus so5 600 Tensions l49 s75 S39 o2
Navy 56.OS9.149 O.
DINGLEY LAW AS A REVENUE PRODUCER.
The receipts on account Of customs revenue
for the year which ends to-day are remark
able verification of the accuracy Of the estimate
made by Senator Allison, of the Finance Com
mittee, and Chairman Dingley of the Ways and
Means Committee in the summer of 1897 in re-
gard to the revenue producing qualities of the
bill which became the Dingley Tariff law. That
estimate for the second full year Of the opera
ton Of the law, which has just ended was
1925. 100000, which was SSOO0OO0 more than
that Of the Treasury authorities at that time.
The revenue for the second full year of the law
amounts to 1898 491 .13S. Since the law was en-
acted. however, tea has been added to the
dutiable list at the rate Of 10 cents pound
The Importation of tea in the eleven months
ended May 81, 1900, amounted to $685.. 900
for the year, the duty on which at 10 cents a
pound will amount to SS.S32 700 If that sum
be deducted from the total customs receipts for
the year-S233 491 13S-the remainder will
amount TO 1924, Cos. ABS, or only S341, ,562 less
than the estimate of Senator Allison and Chair
man Dingley in July. 1897
When the final balance Of the year is struck
on Monday it will probably be found that the
total amount Of gold coin and bullion in the
Treasury. including the reserve of $3.50 600
will exceed $4,000 000-'more gold than is
gathered under any single control anywhere
else in the world" United States Treasurer
Roberts to-day remarked.
Under the old form Of Treasury statement, be-
fore Congress set aside -S150O000O0 as a gold
reserve. the available cash balance of the Treas
ury on Monday next would he placed at about
S3O4 100000. There has been no such surplus or
prosperous condition Of the Treasury since Sep
tember 1SSS, except when the S2O0O00OOO bond
sale swelled the balance in August and Septen-
ber, 1893. With the exception Of months in 1887
and 1888 the Treasury has had no such cash
balance since 1879.
REFLECTING NATIONAL PROSPERITY.
The Treasury is stronger than it has been
in great many years" said Treasurer Roberts.
land reflects the great prosperity of the coun-
Try"
The surplus Of about SS0O0OOOO is the largest
since 1880 The surplus that year SS5,-
O4o271 It fell off greatly the following year
and for two years after that. In 1894 began
the deficits that have followed steadily This
IS the first year that has shown a surplus
since 1893.
The war expenditures were enormous in the
early part of the fiscal year 1899, and this
caused the deficit Of $50, III $50 that year. That
was the year Of the S20OOOOOOO bond issue,
but part Of the receipts from that source
entered into the regular daily receipts and ex-
penditures Of the Treasury The deficit was in
dependent Of that sale. If the money from this
source had been added to the ordinary receipts
there would have been big surplus.
The surplus for each month continues to
grow The approximate surplus for June, the
last month OF the fiscal year, is $17000OOO.
With one more day to hear from, it stands S15-
279.231- This is the largest surplus for any
month OF the year and for many years past.
The total receipts this month have been S4S-
S64,231, with another day to coIHe. The ex-
penditures for the month have aggregated $685.
b65,000. From customs this month the receipts
will be about $4,000 900 and from internal
revenue something like S2S,OOOOOO The mis-
cellaneous receipts about usual
THE REFUNDING OPERATIONS
The refunding operations have been a marked
and most satisfactory feature of the fiscal his
tory Of the Government since the approval Of the
Gold Standard law on March IL as VIII ap-
pear from the following statement:
BONDS EXCHANGED FOR NEW PER CENTS