Presidents -- United States -- Messages; United States -- Politics and government -- Sources
From internal revenue - 130,881,513.92
From miscellaneous sources - 32,335,803.23
The ordinary expenditures for the same period were $281,996,615.60, and the
total expenditures, including the sinking fund, were $329,579,929.25. The
excess of receipts over expenditures was, after providing for the sinking
fund, $57,470,129.59.
For the current fiscal year the total revenues, actual and estimated are
$385,000,000, and the ordinary expenditures, actual and estimated, are
$293,000,000, making with the sinking fund a total expenditure of
$341,321,116.99, leaving an estimated surplus of $43,678,883.01.
During the fiscal year there was applied to the purchase of bonds, in
addition to those for the sinking fund, $90,456,172.35, and during the
first quarter of the current year the sum of $37,838,937.77, all of which
were credited to the sinking fund. The revenues for the fiscal year ending
June 30, 1891, are estimated by the Treasury Department at $385,000,000,
and the expenditures for the same period, including the sinking fund, at
$341,430,477.70. This shows an estimated surplus for that year of
$43,569,522.30, which is more likely to be increased than reduced when the
actual transactions are written up.
The existence of so large an actual and anticipated surplus should have the
immediate attention of Congress, with a view to reducing the receipts of
the Treasury to the needs of the Government as closely as may be. The
collection of moneys not needed for public uses imposes an unnecessary
burden upon our people, and the presence of so large a surplus in the
public vaults is a disturbing element in the conduct of private business.
It has called into use expedients for putting it into circulation of very
questionable propriety. We should not collect revenue for the purpose of
anticipating our bonds beyond the requirements of the sinking fund, but any
unappropriated surplus in the Treasury should be so used, as there is no
other lawful way of returning the money to circulation, and the profit
realized by the Government offers a substantial advantage.
Public-domain text, read in full here on John Shaqi.
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