290 



FINANCES OF THE UNITED STATES. 



Brought forward $270,559,695 91 



Premium on bonds pur- 

 chased $6,958,236 76 



Redemption of public debt.. 99,960,253 54 



106,918,520 30 



$377,478,216 21 

 Balance in Treasury 106,564,356. 94 



Total $484,042,573 15 



Thus the net reduction of the principal of 

 the public debt during the fiscal year was 

 $99,960,253.54. Deducting the ordinary re- 

 ceipts during the year from the ordinary ex- 

 penditures and interest on the public debt, 

 there remains a surplus of revenue amounting 

 to $94,134,534. If to this amount is added the 

 amount of premium on sales of gold, and the 

 reduction of the cash balance at the close of 

 the year, the sum is $99,960,253.54. 



The reduction of the public debt, from March 

 1, 1869, to November 1, 1872, was as fol- 

 lows: 



From March 1, 1869, to March 1, 1870 $87,134,782 84 



From March 1, 1870, to March 1, 1871 117,619,630 25 



From March 1. 1871, to March 1, 1872 94,895,348 94 



From March 1, 1872, to Nov. 1, 1872 64,047,237 84 



Total $363,696,999 87 



And a reduction in the annual interest of 

 $24,187,851. 



The receipts during the quarter ending Sep- 

 tember 30, 1872, which is the first quarter of 

 the fiscal year ending June 30, 1873, were as 

 follows : 



$57,729,540 27 



797,324 57 



34,169,047 22 



3,307,238 69 



119.093 73 



103,787 30 



479,306 03 



Customs 



Sales of public lands 



Internal Revenue 



Tax on circulation, etc., of national banks 

 Repayment of interest by Pacific iiailvvays 



Customs fines, etc 



Consular, patent, and other fees 



Proceeds of Government property 



Miscellaneous sources 1,346,257 47 



Net ordinary receipts.. 

 Premium on sales of coin. 



Total receipts $100,815,134 07 



Balance in Treasury, June 30, 1872, in- 

 cluding $1,014 48 received from " una- 

 vailable " 106,565,371 42 



Total available $207,380,505 49 



The expenditures during the same quarter 

 were as follows : 



Civil and miscellaneous expenses $18,299.891 28 



Indians 3,037,343 83 



Pensions 9,135,389 71 



Military establishment 12 876 982 41 



Naval establishment 7,305 146 48 



Interest on the public debt, etc 



Total, exclusive of the principal and 



premium on public debt $86,851,648 54 



For premium on purchased 



bonds $1,702,568 53 



Net redemption of the pub- 



lie debt 16,932,138 



18,634,707 25 



Total net expenditures $105,486,355 79 



Balance in Treasury Sept. 30, 1872. . . 101,894,149 70 



$207,380,50549 



For the remaining three-quarters of the 

 same fiscal year, ending June 30, 1873, it was 

 estimated that the receipts would be as fol- 

 lows : 



Customs. $135,000,000 



Sales of public lauds, 



Internal revenue 



Tax on national banks 



Pacific Railways 



Customs fines, etc 



Consular, patent, and other fees 



Sales of public property 



Miscellaneous sources 



Total $218,500,000 



For the same period it was estimated that 

 the expenditures would be as follows : 



Civil expenses $13,000,000 



Foreign intercourse 900,000 



Indians 4,000,000 



Pensions 20,000,000 



Military establishment 23,000,000 



Naval establishment 13,500,000 



Miscellaneous civil 27,800,000 



Interest on the public debt 71,500,000 



Total $173,700,000 



According to this estimate there will be 

 $44,800,000 of surplus revenue applicable to 

 the purchase or redemption of the public debt. 



The reduction in taxation since the close of 

 the war is estimated to have been as follows : 



IN INTERNAL REVENUE. 



Act of July 13,1866 $65,000,000 



Act of March 2, 1867 40,00 ),000 



Act of February 3, 1868 23.000,000 



Act of March 31, 1 18RS 4* rv\n mn 



ActofJuly20, f 1868 45,000,000 



Actof July 14, 1870 55,000000 



Act of June 6, 1872 20,651,000 



Total of internal revenue $248,651,000 



IN CUSTOMS. 



Act of July 14, 1870 $29,526,410 



Acts of March 1 and June 6, 1872 31,172,761 



Total of customs $60,699,171 



Total reduction $309,350,171 



The following table exhibits the aggregat 

 amount of taxes returned from the s 

 sources of revenue from the organization oi 

 the Internal Eevenue Department to the clc 

 of the last fiscal year : 



1. ARTICLES AND OCCUPATIONS NOW TAXA 



BLE, INCLUDING PENALTIES. 



Spi rits $336,138,546 



Tobacco 200,213,837 



Fermented liquors 52,954,800 



Banks and bankers 28,644,495 



Adhesive stamps 131,673,669 



Penalties 7,384,218 



2. ARTICLES AND OCCUPATIONS NOW EX- 



EMPT FROM TAX. 



Manufactures and productions.$401,391.205 



Gross receipts 55,924,677 



Sales 37,558,907 



Special taxes not relating to 

 spirits, tobacco, and fer- 

 mented liquors 85,437,647 



Income 341,706,036 



Special income tax of 1864. . . . 29.381,8(52 



Gas 17,912,330 



Legacies and successions 14,805.648 



Articles in Schedule A 8,964.869 



Miscellaneous ,250,993 



Aggregate receipts $1,758,343,829 



Total collections, 

 from September 

 1,1862, to June 

 30, 1872. 



$757,009,565 



1,001, 34,264 



