There was a decrease of $4,015,852.21 in the ordinary expenditures, as follows: Salaries and expenses.... 192, 919.01 $7,725.71 Department of State Salaries and expenses.... Treasury Department Salaries and expenses...... Territorial governments.... Salaries, etc., internal revenue... Refund of direct taxes Bounty on sugar.... Refund for land sold for direct taxes.. Refunding excess of deposits, cus- Debentures or drawbacks, customs. Regulating immigration....... Alien contract-labor laws.... Fuel, etc., public buildings.... Furniture for public buildings... Heating apparatus, public buildings... Vaults, safes, etc., public buildings..... Fish hatcheries... Salaries and expenses, Fish Commis sion..... National Museum.. Smithsonian Institution.... Expenses of Treasury notes.. 185, 193.33 3,072, 875.23 1, 964, 061.43 3,277, 506, 72 231, 320.45 929, 886, 92 249,471.06 82, 721.47 56,500.00 85, 108.42 669, 618.59 1,384, 018. 48 2,763, 213. 16 414, 988.90 315, 510. 01 1, 146, 552. 37 3,599, 614. 41 852, 272.97 805, 673. 63 202, 335.89 97,430.49 37,744.27 956. 39 26, 751.95 317, 456.56 Zoological Park.... Sinking funds, Pacific railways... 1, 105, 351. 08 French spoliation claims.. Atlanta Exposition........ Epidemic diseases.... Salaries and expenses.. Public lands service.... Colleges for agriculture... Miscellaneous items... 22,920.00 59,047.56 76, 091.88 453, 912.84 2,093, 610.78 410, 273.90 4,854, 902. 24 Post-Office Department Salaries and expenses.. Deficiency in postal revenues. 875, 716.71 11,016, 541.72 Mail transportation, Pacific rail ways... 1,668, 935.83 Department of Agriculture Weather Bureau.... Salaries and expenses.. Department of Labor Salaries and expenses.. Department of Justice Salaries and expenses.. 1,890, 035.61 Salaries of justices, assistant attorneys, etc....... 1,046, 404, 83 858, 586, 43 9,300,000,00 1,560, 430. 17 1,977, 498.73 928, 170.58 163, 945.34 303, 242.64 1, 124, 805, 82 87,463. 12 213, 654.98 4,812.33 20,032.26 78, 400.99 The revenues of the Government for the current fiscal year are thus estimated upon the basis of existing laws: From customs...... From internal revenue... $148, 000, 000. 00 150, 000, 000, 00 From miscellaneous sources.... From postal service.......... $20, 000, 000. 00 89, 793, 120.75 Total estimated revenues.... 407, 793, 120.75 The expenditures for the same period are estimated as follows: It is estimated that upon the basis of existing laws the revenues of the Government for the fiscal year 1898 will be: The estimates of appropriations required for the same period, as submitted by the several Executive Departments and offices, are as follows: Miscellaneous-Continued. War Department........ Interior Department..... Department of Justice... District of Columbia.. $4, 752, 694. 23 Postal service, including $1,288,334.47 deficiency in postal revenues... 8, 686, 616. 38 69,078, 220.00 Total estimated apppropriations, exclusive of sinking fund...... 466, 946, 047. 28 45, 718, 970. 60 The foregoing estimates of receipts and expenditures for the fiscal year 1898 are made upon the assumption that there will be no substantial change in existing business conditions, and that the present scale of public expenditures will not be reduced. Such estimates, even when made under the most favorable circumstances, involve so many elements of uncertainty that they can be regarded only us showing probable results, but the difficulty of reaching satisfactory conclusions, especially as to the amount of receipts, is greatly increased at the present time by the unsettled condition of business, and the impossibility of foreseeing the changes that may occur before or during the year beginning on the 1st day of July, 1897. If our ordinary business activity should be resumed, and the consumption of articles subject to taxation should increase to its normal proportions, the receipts for that year will of course be much larger than is here estimated, and there may be in fact no deficiency in our revenues. OPERATIONS OF THE TREASURY. ** According to the report of the Treasurer of the United States, the total available assets of the Treasury at the opening of business on July 1, 1895, were $812,627,722.05. Of this sum $579,247,863 represented deposits held for the redemption of outstanding certificates and Treasury notes, and the remainder, amounting to $233,379,859.05, constituted the general fund. At the close of business on June 30, 1896, the deposits held for the redemption of certificates and Treasury notes were $547,330,973, and the general fund $308,354,348.70, making a total of $855,685,321.70. The aggregate receipts for the year as shown by the warrants, including the ordinary revenues, the proceeds of loans, and the deposits for certificates, were $820,852,810.29. The corresponding disbursements were $748,369,469.43. In the fifteen months ending with September the redemptions of United States notes and Treasury notes in gold amounted to $192,972,205. The net gains of gold to the Treas See appendix, p. 3. ury during the same period, exclusive of the proceeds of the sale of bonds, were $98,138,902. Uncurrent gold and silver coins of the face value of $5,452,724.46 were transferred during the year from the Treasury to the mint for recoinage. The redemptions of national bank notes were nearly $108,000,000, the largest in ten years, and with the excep tion of three years, the largest since 1879. COINS AND COINAGE. The report of the Director of the Mint shows the operations of the mints and assay offices during the fiscal year 1896, together with statis tics of foreign countries, relative to the production, coinage, and monetary condition of each. Deposits and purchases. The gold bullion deposited at the mints and assay offices during the year was valued at $103,311,125.73. Of this amount, $68,769,383.81 were original deposits, and $34,541,741.92 were redeposits. The classification of the original deposits was as follows: Domestic bullion.......... Uncurrent domestic coins....... Foreign material (bullion and coin).. Old plate and jewelry........ .$53, 910, 957. 02 1,670, 005. 53 9, 799,799. 20 3,388, 622.06 The face value of the uncurrent domestic gold coins transferred from the Treasury to the mint at Philadelphia for recoinage was $825,583, and the amount deposited at the mints and assay offices was $858,297.50, a total face value of $1,683,880.50, the coinage value of which was $1,670,005.53, showing a loss upon recoinage of $13,874.97. The silver bullion deposited represented a coinage value of $11,848,694.92; of this amount, $11,672,077.79 were original deposits and $176,617.13 were redeposits. The classification of the original deposits was as follows: Domestic bullion ...... Uncurrent domestic coin..... Foreign material........ Old plate and jewelry... $5,715, 742. 64 4, 099, 579. 11 1,075, 328. 08 781, 427.96 The purchases of silver bullion for subsidiary coinage, under the provisions of section 3526, Revised Statutes of the United States, was 184,578.14 fine ounces, costing $122, 429.62. See appendix, p. 169. |