782 



UNITED STATES, FINANCES OF THE. 



canvass before the September election, and 

 afterward made a tour of the West, speaking 

 to large audiences. 



At the election in November the Democrats 

 carried all the Southern States, as usual, and 

 the Northern States of New Jersey and Con- 

 necticut. In New York, while the State Demo- 

 cratic ticket was elected, their National ticket 

 was nearly 15,000 votes behind the Republi- 

 can ticket. Gen. Harrison was thus assured 

 of 233 electoral votes, while Mr. Cleveland had 

 168. The popular vote, by counties, may be 

 found in the article UNITED STATES, PRESI- 

 DENTIAL ELECTIONS ix. The accompanying 

 table gives it by States. 



A presidential candidate nominated by the 

 Socialists of New York city received 2,068 

 votes. 



The result of the Congressional elections was 

 to give control of the popular branch of Con- 

 gress to the Republicans by a small majority. 



The Governor of West Virginia denied cer- 

 tificates of election to two Republicans who 

 were elected to Congress upon the face of the 

 returns and gave them to their Democratic 

 opponents. Should the Republicans be finally 

 seated, the Republican majority in the Fifty- 

 first Congress will be increased from 3 to 7. 

 The Democratic majority in the Fiftieth Con- 

 gress was 19. 



UNITED STATES, FINANCES OF THE. During 

 the fiscal year ended June 30, 1888, the reve- 



nues collected by the United States Govern- 

 ment averaged more than $1,000,000 a day, 

 including all Sundays and holidays, or about 

 $379,000,000 for the twelve months. This 

 aggregate is more by about eight million than 

 for the preceding year, and is at the rate of a 

 little more than six dollars per capita of popu- 

 lation, about the average rate of the past fifteen 

 years, and less than half the highest rate of 

 Federal taxation per capita per annum of 

 which the Government has record ($15.73 per 

 capita in 1866). 



The expenditures for the year have been 

 about $268,000,000, or about the same as in 

 1887, and greater than in any previous year 

 since 1875. 



The surplus in the Treasury at the close of 

 the fiscal year, over and above all accrued lia- 

 bilities, was about $103,000,000. It was about 

 $41,000,000 when the year began. 



The average monthly surplus has been twice 

 as great during 1888 as during 1887, and the 

 highest amount has been nearly double the 

 highest aggregate of the preceding year. The 

 surplus at one time during the past year was 

 greater by $53,487,000 than the highest point 

 previously reached, and has since declined to 

 little less than half its greatest aggregate. 



The National Bank depositary system, which 

 has been the subject of much recent discus- 

 sion, has just rounded out a quarter of a cent- 

 ury of its existence. From the beginning of 



