FINANCES OF THE UNITED STATES. 



297 



.11 expenses $17.037,115 09 



. Ix'i Intercourse * < ?55' 5! S 



J-JS'J?! 22 



,088,414 00 



Military establishment. Including 

 fortifications, rtver and harbor im- 



n. MI-, and arsenals 42,318,987 23 



l-'or nuviil establishment, including ves- 

 sels and machinery, and Improvements 



at navy-yards. 80,932,587 4 



For miscellaneous, civil, including pub- 

 lic building, light-houses, and collect- 



iiiKthe revenue 50,506,41425 



: creel on the public debt 107.119.til5 21 



Total net ordinary expenditures, exclu- 



Iveofthe pul.llcdobt $285,738,800 2 



I'lvniiuiii on buiuU purchased 1,895,078 55 



$287,133,878 76 



Award of Geneva Tribunal, Investment 

 account 15,500,00000 



Total net disbursement* $308,688,878 76 



Balance In Treasury, June 30, 1874 150.731.694 63 



Total. . . $453,305,508 39 



It will be seen by this statement that the 



net revenues for the fiscal year were... $289.478,756 06 

 And the ordinary expenses 287,183,878 76 



Leaving a surplus revenue of. $2,341,882 30 



During the months of July, August, and 

 September, on the first quarter of the fiscal 

 year 1874, bonds to the extent of $12,936,450 

 were purchased. 



The receipts during the first quarter of the 

 fiscal year ending June 30, 1875, were as fol- 

 lows: 



From customs $46,651,200 10 



From internal revenue 26,814,615 33 



From sales of public lands 891,465 88 



From tax on circulation, etc., of national 



banks. 3,596,148 23 



From repayment of Interest by Pacific 



Railways.. 217,941 97 



From customs' fines, etc 80,540 31 



From consular, patent, and other fees. .. 451,207 11 

 From proceeds of sales of Government 



property 522,54677 



From miscellaneous sources 1,255,332 57 



Net ordinary receipts $79,481,048 27 



From premium on sales of coin 1 ,453,237 72 



Total net ordinary receipts $80,884,285 99 



Receipts from certificates of deposit of 



l<"'iil tenders and coin certificates in 



excess of redemptions 5.247.068 24 



Balance in Treasury, June 30, 1874 150,731,694 08 



Total available $286,863,048 86 



The expenditures during the same period 

 were as follows : 



For civil and miscellaneous expenses. In- 

 cluding public buildings, light-houses, 

 and collecting the revenues $20,888,410 77 



For Indiims 3,032,752 93 



For pensions 8,913,407 18 



For military establishment, including 

 fortifications, river and harbor Im- 

 provements, and arsenals 11,618,290 99 



For naval establishment, including ves- 

 sels and machinery, and improvements 

 at navy-yards 8,122,728 14 



For interest on the public debt, includ- 

 ing Pacific Railway bond* 82,787,899 88 



Total ordinary expenditure* $85,818,489 42 



Balance in the Treasury, September 80, 

 1874. 151,549,559 44 



For the remaining three-quarters of the 

 same fiscal year, ending Juno 80, 1875, it was 

 estimated that the receipts would be : 



From customs $115,850,000 00 



From internal revenue 78,784,00000 



From sales of public lands 1,000,000 00 



From tax on national banks 8,800.000 00 



From Pacific Ifallways 500,000 00 



Ki oin customs' fines, etc. 



From consular, patent, and other fees 1,800,000 00 



From sales of public property 1,000,000 00 



From miscellaneous sources 8,100,000 00 



Total $20MS4,<Oob 



For the same period, it was estimated that 

 the expenditures would be : 

 For civil and miscellaneous, including 



public buildings $48,080,000 00 



For Indians 5,000,000 00 



For pent-ions 21,442.000 00 



For military establishment 28,500,000 CO 



For naval establishment 17,000,000 00 



For interest on the public debt 70.000.000 00 



Total $190,002,00000 



Thus, for the fiscal year ending June 80, 

 1875, from the foregoing account of actnal 

 receipts and expenditures for the first quarter, 

 and of the estimates of the same for the re- 

 maining three-quarters, the estimates being 

 based on the assumption that Congress would 

 not increase the expenditures by deficiency or 

 other appropriations, it was expected that the 

 revenues would amount to $284,818,285.99, 

 and that the ordinary expenses would be 

 $275,315,489.42; which would leave a sur- 

 plus revenue of $9,002,796.57 to be applied to 

 the sinking-fund. 



The sum of $31,096,545 would be required 

 under the law for this fund ; and, therefore, 

 unless the revenues shall increase beyond the 

 amount anticipated, there would be a defi- 

 ciency in the sinking-fund account for this 

 year of $22,093,748.48. 



During the fiscal year the public debt was 

 reduced by the sum of $5,762,447.65, as will 

 appear by the following statement : 



Principal of the debt July 1, 1873 $2,234,482,993 20 



Interest due and unpaid, and accrued 



interest to date 42,S56,652J2 



Total debt "$2.270.839.646 09 



Less cash in the Treasury 131,179,887 10 



Debt, less cash in the Treasury- $2,145,660,808 6 



Principal of the debt July 1, 1874 $2,251,690,468 48 



Interest due and unpaid, and accrued 

 Interest to date 



Totaldebt $2,290,629,555 90 



Less cash in the Treasury 150,781,694 



Debt, less cash In the Treasury $2,189,897,861 27 



Showing a decrease during the year, as 

 above stated, of 



Total. 



$886,868,048 86 



This decrease is represented by the ex- 

 cess of receipts over expendii ures . . . . $2,344,888 80 



The interest due and unpaid June 80, 

 1874, was less than June 30, 1873, by.. 8,417,566 85 



$5,762,447 65 



In the following table is given a statement 

 of the outstanding principal of the public debt 

 of the United States on June 30, 1874 : 



