300 



FINANCES OF THE UNITED STATES. 



than for any previons year since 1870, when 

 the aggregate receipts amounted to $411,255,- 

 477.63. The receipts from duties on imports 

 and internal revenue taxes have steadily in- 

 creased for the past five years. In 1878 the 

 revenue from customs amounted to $130,170,- 

 680.20; and from internal revenue, $110,581,- 

 624.74. During the same period the ordinary 

 expenditures have materially decreased, and 

 as the result of successfully refunding a very 

 large portion of our national debt, the annual 

 interest charge has been reduced $37,294,362. 



The following is a statement showing the 

 net ordinary receipts and expenditures of the 

 Government by calendar years, for 1881 and 

 1882: 



As compared with the preceding calendar 

 year, the receipts for 1882 have increased $27,- 

 368,078.54, as follows : From customs, $18,028,- 

 626.22 ; internal revenue, $2,251,233.41 ; sales 

 of public lands, $2,457,622.23 ; tax on circula- 

 tion and deposits of national banks, $663,293.- 

 14; and miscellaneous, $3,967,303.54. 



The expenditures show a net decrease of 

 $807,918.82, owing to the large reduction in 

 the amount required for the payment of in- 

 terest on the public debt. 



Comparing the fiscal year 1881 with the previ- 

 ous year, 1880, the receipts increased as follows : 

 In customs revenue, $11,637,611.42; internal 

 revenue, $11,255,011.59 ; in tax on circulation 

 and deposits of national banks, $1,101,144.28; 

 in miscellaneous, $5,359,133.81 ; making a total 

 increase of revenue over previous year of $29,- 

 352,901.10. The expenditures show a net de- 

 crease over previous year of $6,930,070.19, the 

 principal item of decrease being that of inter- 

 est on the public debt, $13,248,833.93. 



Of the amount of surplus revenue for the 

 year, $14,637,023.93 remained in the Treas- 

 ury at the close of the year. The remainder, 

 $85,432,381.05, was applied to the purchase or 

 redemption of obligations of the United States, 

 all of which were interest-bearing, except the 

 comparatively small amount of $109,001.08 of 

 fractional notes. 



The condition of the Treasury at the be- 

 ginning of the present calendar year, as com- 

 pared with that of 1882 on the same day, may 

 be stated as follows: 



STATEMENT SHOWING THE ASSETS AND LIABILITIES OF THE UNITED STATES TREASURY ON THE 

 1ST DAY OF JANUARY, 1882 AND 18S3. 



The increase in the receipts from duties on imports derived from sugar, wool, iron 

 steel, silk, cotton, and spirits, as compared with the preceding year, is shown by the follow 

 ing table : 



