Show PUBLIC DEBT IS GUT CUT GUTA BILLION A reduction of OO In fu Inthe Inthe the public debt during durin the fiscal fisca year ended June 30 and A reduction of in the debt during the month of June was announced by the tre treasury sury At the same time tic the treasury announced announced announced an an- final figures of 0 C olUn 1 Ell receipts and for fur the past fical year revealed a vI sui-vI surplus us of ot to The total ordinary receipts of the I government for the fiscal year ear 1922 amounted to compared compared compared com com- pared with the previous previous pre pro year while th the tho total expenditures expenditures expenditures expendi expendi- tures chargeable against ordinarY receipts amounted to as against during 1921 1921 When the budget was submitted last December the treasury stated stated stat stat- ed ed the estimate Indicated a deficit for 1922 amounting to and tho better showing which has has' been made results from a combination tion of several factors receipts for the tho year were about greater than originally original original- ly estimated Customs receipts proved proved proved ed to be larger than for any other previous fiscal year In the history of the government and amounted to as compared with the estimate of Internal Inter Intel nal nab revenue receipts amounted to or almost exactly exact exact- ly the estimated Miscellaneous l revenues including tolls am amounted to compared with an estimated th the difference being due chiefly to increased realization on property and securities and the sale of about of federal land bank bonds owned by the govern govern- ment Total expenditures on the theother theother theother other hand were almost less than the estimates given last December in the budget due largely to decreased expenditures on account of the railroads and to unexpectedly unexpectedly unexpectedly un un- expectedly large realization upon railroad obligations held by the government government gov gov- including pa particularly equipment trust notes The total gross debt of the United States on June 30 amounted to 22 compared with 23 23 on May 31 31 with 2 23 2 on June 30 1921 and with on August 31 when the war debt deu was was- wasat at Its pe Ii ax akl o |