364 



FINANCES OF THE UNITED STATES. 



Public interest is aroused. Scientists are grap- 

 pling with unsolved but not insoluble problems. 

 Sewerage and drainage are discussed. The 

 country at large is receiving advanced instruc- 

 tion in hygiene. Sanitary associations are 

 prosecuting the work of disinfection and clean- 

 liness. The American Health Association, is 

 continuing its labors. Railroad managers have 

 met in convention to secure liberty of traffic 

 and security to health. State boards of health 

 are employing local experience and State pow- 

 ers. The Government has undertaken to be 

 the arbiter of inter-State difficulties, and the 

 guardian of the whole water-line in prevent- 

 ing importation. (See HEALTH, NATIONAL 

 BOAED OF.) We may trust that the year is at 

 hand when the land will be delivered from the 

 noisome pestilence. 



FINANCES OF THE UNITED STATES. 

 The improvement in commercial and financial 

 affairs of the previous year was continued dur- 

 ing 1879, although the last six months of it 

 passed under a resumption of specie payments. 

 The refunding of the Government bonds was 

 entirely successful, and even a lower rate of 

 interest was suggested as practicable. 



In the annual report of the Secretary of the 

 Treasury made in December, 1878, there was 

 presented a statement of the receipts and ex- 

 penditures of the Government for the first 

 quarter of the fiscal year ending June 30, 1879, 

 and an estimate of the same for the remaining 

 three quarters, as follows : 



In the actual receipts for 1878-'79, given be- 

 low, there was an increase compared with the 

 previous year of between 16 and 17 millions 

 in customs revenues, Y millions; in internal 

 revenue, nearly 3 millions ; and from interest 

 from Pacific Railroads, coinage profits, and 

 other sources, over 6 millions offset by a 

 decrease in public land sales, profits on sales of 

 coin, bank-taxes, etc., footing up about two 

 thirds of a million. 



The expenditures for the same period, actual 

 and estimated, were : 



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. 



By this estimate it was expected that the 

 surplus would be $24,400,000. But the ordi- 

 nary revenues from all sources for the fiscal 

 year ending June 30, 1879, were as follows: 



From customs $137,260,04770 



From internal revenue 113,561,610 58 



From sales of public lands 924,781 06 



From tax on circulation and deposits of na- 

 tional banks 6,747,500 32 



From repayment of interest by Pacific Rail- 

 way companies 2,707,201 08 



From customs fees, fines, penalties, etc 1,100,871 66 



From fees consular, letters patent, and lands, 2,186,051 79 

 From proceeds of sales of Government prop- 

 erty 181,128 81 



From premium on sales of coin 8,104 88 



From premium on loans 1,496,948 25 



From profits on coinage, etc 2,924,938 67 



From revenues of the District of Columbia. . . 1,741,461 16 



From miscellaneous sources 8,046,544 05 



Total ordinary receipts $273,827,184 46 



The ordinary expenditures for the same pe- 

 riod were : 



For civil expenses $16,439,997 IT 



For foreign intercourse 1,833,836 18 



For Indians 6,206,109 08 



For pensions, including $5,378,000 arrears of 

 pensions 85,121,482 39 



For the military establishment, including riv- 

 er and harbor improvements and arsenals, 40,425,660 73 



For the naval establishment, including ves- 

 sels, machinery, and Improvements at navy 

 yards . . 15,125,126 84 



For miscellaneous expenditures, including 

 public buildings, lighthouses, and collecting 

 the revenue ...!... 88,870,205 78 



For expenditures on account of the District of 

 Columbia 8,597,51641 



For interest on the public debt 105,327,949 00 



For payment of Halifax award 5,500,000 00 



Total ordinary expenditures $266,947,883 63 



Leaving a surplus revenue of $6,879,800 93 



Which was applied as follows : 



To the redemption of United States notes, 



etc ; $31,617 50 



To the redemption of fractional currency 705,158 66 



To the redemption of six per cent, bonds for 



the sinking fund 18,500 00 



To increase of cash balance in the Treasury. . 6,124,024 77 



Total... $6,879,30093 



