REPORT. TREASURY DEPARTMENT, Washington, D. C., December 3, 1877. SIR: In obedience to law, I respectfully submit the following report: June 30, 1877, were From customs From internal revenue.. From sales of public lands. From tax on circulation and deposits of national From repayment of interest by Pacific Railway Com- From customs' fees, fines, penalties, &c. From fees-consular, letters-patent, and lands... From proceeds of sales of Government property. From profits on coinage, &c... From miscellaneous sources.. Total ordinary receipts..... $130, 956, 493 07 118, 630, 407 83 976, 253 68 The ordinary expenditures for the same period were— For civil expenses. For foreign intercourse. For Indians. For pensions. For the military establishment, including river and For the naval establishment, including vessels, ma- Total ordinary expenditures. Leaving a surplus revenue of. 15, 794, 188 34 1, 229, 758 79 5,277, 007 22 27,963, 752 27 37,082, 735 90 14, 959, 935 36 39, 228, 119 47 97, 124, 511 58 238, 660, 008 93 $30, 340, 577 69 Which was applied as follows: To the redemption of United States notes, &c. To the redemption of fractional currency To the redemption of six per cent. bonds for the sinking-fund. To increase of cash-balance in the Treasury $10, 071, 617 00 14, 043, 458 05 447,500 00 5,778, 002 64 30, 340, 577 69 The amount due the sinking-fund for the year was $33,729,833 20, leaving a deficiency on this account of $3,389,255 51. Compared with the previous fiscal year, the receipts for 1877 have decreased as follows: In customs revenue, $17,115,491 54; in proceeds of sales of public lands, $153,213 27; in sales of coin, $3,473,965 02; in semi-annual tax on banks, $250,022 33; in prize-money, $321,370 92; in sales of public property, $1,288,212 73; and in miscellaneous items, $934,512 81. There was an increase in the following items: In internal revenue, $1,929,675 80; in profits on coinage, $1,532,121 27; and in miscellaneous items, $1,593,539 01-making a net decrease in the receipts from all sources, for the year, of $18,481,452 54. The expenditures show a decrease as follows: In the War Department, $988,152 74; in the Navy Department, $4,003,374 46; in the Interior Department, $983,194 37; in civil and miscellaneous, $10,706,307 18; and in the interest on the public debt, $3,118,759 65-due to the funding of six per cent. bonds in new fives and four-and-a-half per cent. bondsmaking a total reduction in all of the Departments of $19,799,788 40. The large apparent reduction in the expenses of the Navy Department, however, is not real; for, by reason of insufficient appropriations to pay the current liabilities of that Department, Congress has, by deficiency bill, during the recent session, appropriated the sum of $2,003,861 27, which is properly chargeable to the expenditures of the last year; but, including such deficiency, the reduction in receipts has been nearly met by the reduction of expenditures. It will also be noticed that more than one-half of this reduction has been made in the civil and miscellaneous expenditures, and is in part due to the reduction of the salaries and office-expenses of the civil officers and employés of the Government. |