Press enter after choosing selection

How A Beginning Can Be Made

How A Beginning Can Be Made image
Parent Issue
Public Domain
OCR Text

The of expendituros for the fiscal year ending June 30th, 1877, received from the several executive departinents cali tor $314,612,(508.48. This amount, howevor, includes $34,063,377 40 for siuking fund appropriations. Acoording to Secretary Bristow's estiniates the suin needed to carry on the government, exclusive of the sinking fund, is $209,265,000. Of this total $97,000,000 is for interest on the public debt, and $3,878,000 lor interest on Pacific railway bonds. For all other purposes he asks $168,387,000. The Committee on Appropriations will bo protty apt to inquire what branch of the public service requires a greater expenditure now tlutn was adequate three years ago. As a starting point for the reductions thoy propose they will finii the foilowing figures suggestive : Aiuount asked for onlinary purposes for tisrul yi'iir ruiling Jane 30, 1S77, 168,387,000 Amiiimt expended for similar pnrposes in liscal year euding Juut; 20, 1872, 153,201,856 lacrease, ----- #$,185,144 As it is impossible to point out any good reasou for an increase in oxpenditure, it is safe to say that, without any special changes in the existing order of things, the estimatos can bc reduced to theexteut of $10,000,000 without much difficulty. And this isbuta beginning. When all the leaks are stopped, when economy is torced in overy departuient, when all excresoenses are lopped off, it is pluin that millions additional will be saved the nation.- Detroit Fret Press. - - ■- - - - ■ The semi-annual report of the Michigan Central Kailroad for the half year ending December 1, shows tho total receipts $3,373.218; operating expenses nearly $2,383876; interest paid by the Corporation, $804,294, making the total $3,188,125; balances $185,092. The bonded debt is $556,000 ; sinking fund loan $2,179,00; se ven per cent. Consolidated loan, $8,000,000; for equipment, $556,000; total $11,291,000, wbich less the bonds of the company, makes an aggregate of $10,691,000. Floating debt $964,446, or an increase since June of $195,424. President Joy mado a statement showing that tho increase of the floating debt was owing to tho recent purchase of a largo amount stuel of rails. He ascribed tho decrease in the earnings to the active competition and low rates charged by the Grand Truuk Railroad, and to the unusual competition of parallel lines.


Old News
Michigan Argus