FINANCES OF THE UNITED STATES. 



323 



amount to $23 1,430, 643. 72, which would leave 

 a surplus revenue of $34,069,356.28. But the 

 ordinary revenues from all sources for the fis- 

 cal year ending June 30, 1878, were as follows: 



From customs $130,170,680 20 



From internal revenue 110,581 ,624 74 



From sales of public lands 1,079,743 37 



From tax on circulation and deposits of na- 

 tional banks 



From repayment of interest by Pacific Eail- 



way Companies 1,866,954 3d 



From customs fees, fines, penalties, etc 1,046,864 36 



From fees consular, letters patent, and 



lands 2,056,515 13 



From proceeds of sales of Government prop- 

 erty 249,469 88 



From premium on sales of coin 317,102 30 



From profits on coinage, etc 1 ,690,762 33 



From miscellaneous sources 2,341,109 07 



Total ordinary receipts $257,763,878 70 



The ordinary expenditures for the same pe- 

 riod were : 



For civil expenses 



For foreign intercourse 



For Indians 



For pensions 



For the military establishment, including 

 river and harbor improvements, and arse- 

 nals 



For the naval establishment, including ves- 

 sels, machinery, and improvements at na- 

 vy yards 



For miscellaneous expenditures, including 

 public buildings, lighthouses, and collect- 

 ing the revenue 



For interest on the public debt 



$16,551,323 16 



1,229,216 78 



4.629 281) 28 



27,137,019 08 



82,154,147 85 

 17,365,301 87 



85,397,163 63 

 102,500,874 65 



Total ordinary expenditures $236,964,326 80 



Leaving a surplus revenue of. $20,799,551 90 



Which was applied as follows : 



To the redemption of United States notes, 



etc $13,119,825 33 



To the redemption of fractional currency. . . . 8,855,368 57 

 To the redemption of 6 per cent, bonds for 



the sinkingfund 73,950 00 



To increase of cash balance in the Treasury.. 8,750,408 00 



Total $20,799,551 90 



The amount due the sinking fund for the 

 year was $35,429,001.80, leaving a deficiency 

 on this account of $14,629,449.90. Compared 

 with the previous fiscal year, the receipts for 

 1878 have decreased $11,984,796.09, in the 

 following items: In customs revenues, $785,- 

 812.87; in internal revenue, $8,048,783.09; in 

 semi-annual tax on banks, $215,498 ; in sales 

 of Government property, $84,485.08 ; in profits 

 on coinage, $1,582,476.75 ; and in miscellane- 

 ous items, $1,267,740.30. There was an in- 

 crease of $748.088.17, as follows : In proceeds 

 of sales of public lands, $103,489.69 ; in premi- 

 um on sales of coin, $67,521.52 ; in miscellane- 

 ous items, $577,076.96 making a net decrease 

 in the receipts from all sources for the year of 

 $11,236,707.92. The decrease of revenue is 

 principally due to the falling off in the receipts 

 from internal revenue, which was probably 

 caused by the agitation in Congress, for a long 

 time, of the reduction of the tax on spirits and 

 tobacco. The expenditures show an increase 

 of $7,781,729.08, as follows: In the Navy De- 

 partment, $2,405,366.01, and in the interest on 

 the public debt, $5,376,363.07, the latter of 



which was due to the large balance of $7,426,- 

 619.81 unpaid interest at the commencement 

 of the year, and to the change from semi-an- 

 nual to quarterly payments of interest on 6 per 

 cent, bonds converted into 4 per cents, which 

 would not otherwise have been made until af- 

 ter the close of the year. There was a decrease 

 of $9,477,411.21, as follows: In the War De- 

 partment, $4,928,588.05; in the Interior De- 

 partment, $1,474,460.13; and in the civil and 

 miscellaneous, $3,074,363.03 making a net 

 decrease in the expenditures for the year of 

 $1,695,682.13. 



The receipts and expenditures for the first 

 quarter of the fiscal year ending June 30, 1879, 

 and the estimates for the remaining three quar- 

 ters were as follows : 



The expenditures for the same period, actual 

 and estimated, will be : 



EXPENDITURES. 



For civil and miscellaneous 

 expenses, including pub- 

 lic buildings, lighthouses, 

 and collecting the revenue 



For Indians 



For pensions 



For military establishment, 

 including fortifications, 

 river and harbor improve- 

 ments, and arsenals 



For naval establishment, in- 

 cluding vessels and ma- 

 chinery, and improve- 

 ments at navy yards 



For interest on the public 

 debt. . . 



Total ordinary expen^ 

 ditures 



For the quarter For the remaining 

 ending September three quarter! of the 

 30, 1878. year. 



Actual. 



$15,044,519 62 

 1,750,517 25 

 7,802,465 63 



10,258,900 87 



4,520,742 84 

 83,967,427 06 



$73,344,573 27 



Estimated. 



$39,955,480 88 

 8,049,482 75 

 21,497,584 87 



28,741,099 13 



10,479,257 16 

 63,082,572 94 



$166,755,426 73 



Total receipts, actual and estimated $264,500,000 



Total expenditures, actual and estimated 240,100,000 



Leaving a balance of $24,400,000 



applicable to the sinking fund, which is estimated for the 

 year at $36,954,607.87. 



