Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-07-02
j. S. DEBT TOTALS
$22,0)0,0D0,0OO
More Than Half Billion Re.
duction in Last Year An
nounced by Treasury.

The government took in more than
four billion dollars, sliced off more
than half a billion from the public
debt, during the fiscal year ended
Saturday, and left the total gross
debt of the United States standing
now at netting more than twenty
two billions.
This was revealed by the Treasury
IL a statement made public today,
which showed total receipts for I'll e
Swear were $500. 5.4S0; expenditures,
:*3.6s7.478.020. leaving a surplus of
;SS09,G57. 400. The total reduction in
the public debt was $613.674.S42.95.
Al the close of business Saturday
night the government owed $22.349,-
;01.S65 OF outstanding securities.
This total represents a reduction in
The twelve months of s613.674,342. OF
which s40k.S50.491 was taken into &C
count in compiling the ordinary" Oh
bndget expenses of the government.
f-op the surplus on hand the Treas
uEE/ applied a total of s2l0,S2S,S51 to
REDUCING its obligations
Tariff Causes Gain
Part of the success in building up
"a surplus while at the same time the
public debt was reduced was traced
by: the Treasury to the administra-
tons tariff policy, which. it was de-
cla-ed, resulted in the establishme nj
OF q record. receipts in customs duties
totaling S561,s28.S66. This total is
almost 60 per cent greater than for
the fiscal year ending June 80. 1922
when duties Of $366.44S.S87 were re-
ported, making high point for Gus
Income and profits taxes paid into
the Treasury during the last twelve
months, like the receipts from Gus
TONG collections, also exceeded ex-
pectations, the total being s1.67S.601,-
t2S, while the estimate given in the
budget last December was s1.5o0.000.-
900. Other forms of internal revenue
gave the Treasury an additional
The government started the new fis,
cal year today with s370.939, 121.0S il
the Treasury's general fund 4 year
ago ttle general fund was s212,105.-
512.6G:
$a.5OO.OOO.O0O Repaid.
During the last twelve months" q
formal statement issued by the Tres.
ury said. about S4.500.00 1000 of gov
ernment debt matured and was either
retired or refunded. thus completing
the TEeasury's program for refundine
the sT.5o0,0O0,000 in short-dated deb
which: was outstanding at the begin
Iing Of the administration.
an ether words. since the refundins
Drogram was announced on April so
1921. about s4.070.0 100000 of victory
notes have been retired. Treasury
certificates of indebtedness have beer
reduced from s2,S20. 100000 to about
s1.030p00.000, all maturing on quar-
terly tax payment dates. and war
savings securities have been reduced
from S71S.000.000 TO about 100000
while new Treasury savings secur-
tiles to the amount of about s245.-
100000 and about s4.100.000.000 OF
Treasury notes. maturing on various
quarterly tax payment dates during
the years 1924 to 1927, have been is
sued and are now outstanding.
"Drrirg the same period. the cross
uublic debt has been reduced about
$3.50 900. 600.
I'm the fiscal year 1924. which be-
foht n1aturities of. about 1880. 000.-
900. including about S1.030, 000.o0o of
Treasury certificates of indebtedness.
about 1910. 900. 900 Of Treasury notes
maturing June 10, 1924. and about
s60.o00.000 of war saving certificates
Of the 1919 series. maturing January
I. 1924. In addition there are still
outstanding about s95.000.000 of 4aa
pe- cent victory notes. which matured
or were called for redemption during
the fiscal year 1923. and about $780,
the 1918 series. which matured on
.ranuary 1. 1923. These are being
presented for redemption from day
TO day, and the amounts still out
standiag are being gradually re-
duced.s