468
UNITED STATES
Revenue
1021 1,000
1922
Expenditure
1921
1922
1,000
1,000
1,000
Dollars
Dollars
Dollars
Dollars
Dept. of Agriculture. .
144,748
53,739
Estimated public]
Dept. of Commerce . .
19,942
29,976
debt receipts . '
60,193
60,200
Dept. of Labour . . .
4,912
10,835
Dept. of Justice . . .
15,288
18,006
interstate Commerce
Commission . . . .
4,693
5,574
District of Columbia. .
19,478
26,419
Interest on the public
975,000
922,650
mated receipts.!
5,799,75S
4,919,730
Ordinary . . . .
3,213,042
4,068,449
On June 30, 1920, the cask balance iu the Treasury, inclusive of reserve fund (152,979,025 dollars) and trust funds (704,637,755 dollars), after deducting current liabilities, amounted to 359,947,020 dollars.
National debt on the 1st of July at various periods from 1870 : —
Tear
Capital of Debt
1870 1880 1900 1910
Dollars 2,480,672,427 2,120,415,370 2,136,961,092 2,652,665,838
Year
Capital of Debt
Dollars
1916
3,057,836,873
1918
12,243,628,719
1919
25,482,034,418
1920
24,297,918,411
The gross debt was made up as follows : — Debt bearing no ^interest, 230,075,349 dollars ; debt on which interest has ceased, 6,747,700 dollars ; and interest-bearing debt (between 2and3f percent.) 24,061,095,361 dollars. The net debt — that is, what remains after deducting the cash in the Treasury— was 23,939,971,391 dollars on June 30, 1920.
In 1900 the true value of property was estimated at 88,517,306,775 dollars ; in 1904, at 107,104,192,410 dollars, and in 1912 at 187,739,071,090 dollars.
State Finance.
The revenues required for the administration of the separate States are de- rived from direct taxation, chiefly in the form of a tax on property real and personal ; ami the greater part of such revenue is collected and expended by the local authorities, county, township, or school district.
For details see the separate States.
Defence. I. Army.
The Army of tli« United States, as authorised under the Act of Congress ill June 4, 1920, consists of the Regular Army, the National Guard while in the service of tbe United States, and the Organised Reserves, including the Ollicers Reserve Corps and the Enlisted Reserve Corps.
Original enlistment in the Regular Army is for a period of one or three years at the option of the soldier, and re-enlistments are for a period of three years. Men who are in the service at the outbreak of war, or enlist during
