REVENUE AND EXPENDITURE.
Expenditure.
565
Branches of Expenditure
Fiscal Years ending
Civil Service .
Pensions and Indians
Arm}'
Navy
Public debt
June 30, 1869. Actual
June 30, 1870.
Actual and estimated
June 30, 1871. Estimates
Dollars 56,474,061 35,519,544 78,501,990 20,000,757 130.994.245
Dollars 55,102,202 34,547,943 54,095,468 19,782,630 131.2(12.271
Dollars 60,000,000 36,000,000 50,000,000 18,000,000 127,000,000
Total
321.490.597 1 294,730,514 291,000,000
Surplus . . .1 49,453,150 j 10 ,101,108 1 102,000,000
Comparing the two fiscal years 1869 and 1870, it will be seen that the revenue increased nearly 24 million dollars, owing mainly to augmented taxation, while through the greater economy of the Government, chiefly in the army, the expenditure decreased over 26 million dollars.
Expressed in pounds sterling, the national revenue for the financial year ending June 30, 1871, was calculated at 78,600,000/., and the expenditure at 58,200,000/., leaving a surplus of 20,400,000/. The surplus of every year has to be devoted, in conformity with several enactments of Congress, to the redemption of the national debt.
The following table shows the total amount of the national debt, on the 1st of March of each of the years 1862, 1864, 1866, 1869, and 1870 : —
-+
Years
Capital of Debt
Dollars
&
1862
514,211,372
107,127,369
1864
1,740,690,490
362,643,852
1866
2,783.425,879
579,880,391
1869
2,380,094,127
499,214,041
1870
2,438,328.471
487,665,694
According to the official statement of the Secretary of the Trea- sury, the various liabilities incurred successively by the government under the sanction of Congress, which form the national debt of the United States, were as follows — dollars converted as before, at the rate of 5 to 1, into pounds sterling— on the 1st of March 1869:—
