778 



UNITED STATES, FINANCES OF THE. 



The surplus revenue for 1884, with $9,495,- 

 727.94 drawn from the cash balance in the 

 treasury, making a total of $88,965.294.95, 

 was expended in the redemption of the pub- 

 lic debt. 



As compared with the calendar year 1883, 

 there was a falling off in 1884 of $15,561,519.- 

 70 in the receipts from customs; $13,491,- 

 310.85 in internal revenue; $3,342,339.83 in 

 sales of public lands; $3,121,502.86 in the tax 

 on national banks, and $872,048.81 in the re- 

 ceipts from other sources, making a total re- 

 duction in the revenue of $36,388,722.05. 



There was a decrease of $18,697,280.89 in 

 the expenditures on the following accounts : 

 War, $5,214,921.68; Indians, $917,571.57; 

 pensions, $9,584,027.21, and interest on the 

 public debt, $2,980,760.43. There was an in- 

 crease of $12,418,896.18 in civil and miscella- 

 neous expenses, including the payments on ac- 

 count of the Alabama claims, and of $1,936,- 

 043.15 in the expenditures on account of the 

 navy, making a net reduction in the expendi- 

 tures of $4,342,341.56, which, deducted from 

 the decrease of $36,388,722.05 in the receipts, 

 makes a falling off of $32,046,380.49 in the sur- 

 plus revenue applicable to the reduction of 

 the public debt. 



The receipts from customs and internal rev- 

 enue by quarter-years during 1883 and 1884 

 were: 



INTERNAL REVENUE. 



The reduction in the duties on imports under 

 the act of March 3, 1883, took effect July 1, 

 1883. The entire decrease in the amount of 

 duties collected in the last half of 1884 and a 



large part of the decrease in the first half 

 the year, as compared with the preceding year, 

 are due to a falling off in importations. 



The following table shows in a condens 

 form the receipts and expenditures for th( 

 fiscal years ending June 30, 1883 and 1884: 



There was an increase in 1884 in the receipts 

 from sales of public lands over those for 

 of $1,854,840.59 ; and a decrease of $19,639,- 

 007.17 in customs, $23,134,296.47 in interm 

 revenue, $6,002,278.72 in tax on national banks 

 and $2,846,970.26 in miscellaneous receipt 

 making a net decrease in the total receipts of 

 $49,767,712.03. The receipts from customs, 

 though less than in any of the three preceding 

 fiscal years, were greater than in any year be- 

 fore 1881 except 1871 and 1872. The receipt 

 from sales of public lands were greater than in 

 any year since 1855, when they were $11,497,- 

 049.07, and were exceeded in only two other 

 years 1835 and 1836. The falling off in th( 

 tax on national banks was caused by the repeal 

 of the duty on capital and deposits, which, al- 

 though it took effect Jan. 1, 1883, did not affect 

 the receipts until July 1, 1883, when the tax 

 for the preceding six months fell due. The 

 civil and miscellaneous expenses increased $2,- 

 242,411.49, and the expenditures for the navy 

 $2,009,164.27. The expenditures for the War 

 Department fell off $9,481,779.57; for Indians, 

 $886,591.05; for pensions, $10,583,345.58; and 

 for interest on the public debt, $4,581,752.77. 

 The net decrease in the expenditures was $21,- 

 281,893.21. The interest payments were less 



