Purchase of bonds on account of sinking fund. Premium on purchase of bonds on account of sinking fund, act February 25, 1862.............. $20,000 757 97 130, 694, 242 80 300,000 00 8,690,000 00 1,374, 680 05 Total expenditures exclusive of principal on the public debt... 331,555, 277 80 Redemption of postage and other stamps, per act of 203, 019 77 Reimbursement of temporary loan, per acts of February 25 and March 17, 1862:. Redemption of 2-years five per cent. treasury notes, per act of March 3, 1863... Redemption of fractional currency, per act of March 3, 1863.... Redemption of 3-years six per cent. compound interest notes, per act of March 3, 1863........ Redemption of gold certificates, per act of March 3, 1863... Redemption of 1-year five per cent. treasury notes, act of March 3, 1863... Redemption of 7 3-year coupon treasury notes, per acts of June 30, 1864, and March 3, 1865... Redemption of three per cent. certificates of deposit, per act of March 2, 1867... 215, 000 00 26, 165, 122 99 25, 361, 480 00 65, 255, 620 00 36, 391, 300 00 32, 480, 000 00 Total principal of public debt.. 253, 222, 718 31 584,777, 996 11 Balance in the Treasury on July 1, 1869, agreeably to warrants...... 155, 680, 340 85 TREASURY DEPARTMENT, Register's Office, November 9, 1869. 4 Ab 740, 458, 336 96 JOHN ALLISON, Register. PAPERS ACCOMPANYING REPORT OF THE SECRETARY OF THE TREASURY. REPORT OF THE COMMISSIONER OF INTERNAL REVENUE. TREASURY DEPARTMENT, OFFICE OF INTERNAL REVENUE, SIR: I have the honor to transmit herewith the tabular statements made up from the accounts kept in this office, which the Secretary of the Treasury is required to lay before Congress. They are as follows: Table A, showing the receipts from each specific source of revenue, and the amounts refunded in each collection district, State, and Territory of the United States, for the fiscal year ending June 30, 1869. Table B, showing the number and value of internal revenue stamps ordered monthly by the Commissioner, and monthly receipts from purchasers of internal revenue stamps, the commissions allowed on the same, and receipts from agents for the sale of stamps, for the fiscal year ending June 30, 1869. Table C, showing the territorial distribution of internal revenue from various sources in the United States. Table D, showing the total collections from each specific source of revenue for the fiscal years ending June 30, 1863, 1864, 1865, 1866, 1867, 1868, and 1869, respectively. Table E, showing the ratio of receipts from specific sources to the aggregate of all collections for the fiscal years ending June 30, 1864, 1865, 1866, 1867, 1868, and 1869, respectively. Table F, abstract of reports of district attorneys concerning suits and prosecutions under the internal revenue laws. The total receipts from internal revenue sources, exclusive of the direct tax upon lands and the duty upon the circulation and deposits of national banks, were, for the fiscal year 1869, $160,039,344 29. This includes the sums refunded for taxes illegally assessed and colJected, amounting to $360,235 12, nearly all of which was for taxes assessed and collected in previous years. For the fiscal year 1868 there were refunded $1,018,334 81. No drawbacks were allowed during the fiscal year 1869 by this bureau, excepting on general merchandise, und r section 171 of the act of Juné 30, 1864, limited under the act of March 31, 1868, to ale and patent medicines, amounting to $377,411 31. The drawback on rum and alcohol is not allowed by this bureau. The receipts for the current year are estimated at $175,000,000. RECEIPTS FOR THE FIRST SIX MONTHS OF THE FISCAL YEARS 1868 AND 1869 COMPARED. A comparative statement is submitted, showing the total receipts from the same general sources of taxation for the first six months of the fiscal years 1868 and 1869: From July to December, 1868, inclusive.. From July to December, 1867, inclusive.. Total gain for first six months of 1869.... $67, 296, 388 66, 110, 030 1, 186, 358 The following table exhibits the loss and gain on the several articles subject to taxation during the same periods, and explains the sources from which the gain was made: Comparative table showing the aggregate receipts from the same general sources of revenue, taxable under existing laws, for the first six months of the fiscal years ending June 30, 1868 and 1869; also, the gain or loss, and gain or loss per cent., of those in the latter over those in the former period. Total gain for the above period $1,186,358, or 1 per cent. The amount gained on sales is... The greatest loss from any one source of taxation for this period was upon incomes, which amounts to..... In special taxes, not included under spirits, tobacco, &c., the loss was. $9,586, 522 608, 365 1,666, 104 8, 747, 499 1, 435, 619 It is worthy of special notice that in regard to the receipts from tobacco since January 1, 1869, and hereafter referred to as being largely increased, the loss of revenue on this article for the preceding six months amounted to $68,232; and it should be borne in mind, in considering this loss, that the present system of collecting the tax on tobacco had not gone into full operation prior to January 1, 1869. RECEIPTS FOR THE LAST SIX MONTHS OF THE FISCAL YEARS 1868 AND 1869 COMPARED. A comparative statement is submitted, showing the total receipts from the same sources for the last six months of the fiscal years 1868 and 1869: From January to June, 1869, inclusive ... From January to June, 1868, inclusive... Total gain of last six months of 1869 over 1868...... $90, 542, 760 64, 479, 948 26, 062, 812 The following table exhibits the loss and gain on the several articles subject to taxation, and explains in detail the sources from which the gain was made during this period: Comparative table showing the aggregate receipts from the same general sources of revenue taxable under existing laws, for the last six months of the fiscal years ending June 30, 1868 and 1869; also the gain or loss, and gain or loss per cent., of those in the latter over those in the former period. Total gain for the above period $26,062,812, or 40 per cent. It will be observed that the gain on distilled spirits during this period of comparison is.. On tobacco.... On fermented liquors.. On incomes.. On stamps.. $16, 784, 249 4, 768, 844 91, 174 From gas companies. From banks and bankers.. The only articles on which a loss was sustained are legacies, successions, and penalties-special taxes not included under spirits, &c.—and these aggregate only $802,732. RECEIPTS FROM THE SAME GENERAL SOURCES FOR THE SIX MONTHS ENDING SEPTEMBER 30, 1868 AND 1869. From April to September, 1869, inclusive... Twenty-six districts for this period, not yet returned, est imated at.... From April to September, 1868, inclusive. Total amount for this period. Total gain of last period.. $102, 861, 950 1,516, 000 The following table exhibits the loss and gain on the several articles subject to taxation during the same period, and explains the sources from which the gain was made: Comparative statement showing the aggregate receipts from the several general sources of rere-nue subject to tax under the laws now in force, for the six months ending September 30, 1868 and 1869; also the gain or loss of those in the latter over those in the former period. The aggregate receipts for the present year will be increased by the returns from twenty-six districts, amounting, it is estimated, to $1,516,000. Total gain, not including the receipts from those districts, $22,318,868. If the receipts from the unreported districts equal the above estimate the total gain will be $23,834,868, or 29 per cent. During this period the gain on spirits is. $11, 001, 151 6, 608, 530 1, 101, 601 2,772, 911 704, 860 327, 433 The gain on spirits, during this six months of comparison, is not so large by nearly six millions as it was for the six months ending 30th of June last. This is accounted for by the circumstance that the old spirits in bonded warehouse on the 30th of August, 1868, when the new law went into effect, were all by operation of law to be withdrawn from bond and tax to be paid prior to July 1, 1869. It is a fact, however, that the gain on tobacco, for this period of comparison, exceeds that for the six months ending June 30, 1869, by $2,000,000; showing a steady and continuous increase of revenue from this source. The gains on stamps, incomes, and sales correspond very nearly with the gains on these articles for the six months of comparison, ending June 30, 1869. It is to be remembered in referring to the foregoing comparative tables, that they do not profess to give the gross receipts of revenue for the periods of comparison, but the receipts from the same general sources merely. The reason is that alterations in the law changed the subjects of taxation during the periods of comparison, and hence a statement of the gross receipts would not exhibit the relative and economical increase and decrease of the revenue. Referring to the gains on spirits and tobacco for these periods, it seems proper to say that there is every cause for congratulation that the law of July 20, 1868, taxing these articles, was enacted. |