OCR Text |
Show NATIONAL FINANCES. The statement of the U.S. Treasurer shows that the national debt has been reduced over twelve and a half million dollars last month, and over one hundred and fifty million dollars during the fiscal year ending June 30th, 1882. The government has had an income of two hundred and twenty million dollars from customs, and one hundred and forty-seven millions from internal revenue during the same time. The business of the country and its power of consumption, illustrates its growth. It also proves the necessity of reducing the burdens of taxation caused by the late war, which all classes of people have so patiently borne. In creating wealth and paying its indebtedness this country has surpassed the older nations, and called forth untold expressions of surprise from the Europeans. The foreign trade has however suffered violent fluctuations of late. The exports of merchandise have diminished, while the imports have increased. This will no doubt upset fiscal calculations, and crowd business somewhat. The prosperity of the country has been too rapid to rest upon a solid basis, and all interested will do well not to crowd matters to their fullest extent, or they may have occasion soon to regret their folly. |