The Public Finances

The idcntity of the finnncial situation hroughout the world appears in the deicits in the balance sheets of all the cading nations. Tho fiscal year has just closed in Great Britnin with an unexpected shortage in tlic receipts, and the samo kind of a gnp has arisen in the first nine months of the enrrent fiscal year between the receipts and expenditures of the United States Government. The aggregate receipts of the three quarters past have been $15,714,932 less tlion for the corresponding period of the precedirig fiscal year. At the same time Üie expenditnres havo decreased from $121 000,000 in the first nine months of the fiscal year 1876 to $114,500,000 for the sume period of the present fiscal year- a saving of &fi,500,000. These figures do not mclude the disbnrsements on account of interest on the public dobt. The reductiou made is in the ordinary expenditures for the administration of the Government. The following recapitularon will show the gross receipts for the nine monöis ended Mnrch 31 last, ns compnred with the same nine months of the preceding fiscal year: 187fi. 1877. Olistonm $114,771,093 $ 98,406,379 Interna! revcnuo 83,277,'J33 86,302,305 Misccllancous 10,259,262 17,884,672 Total Ï217,3O8,2S8 $201,593,356 The excess of reeeipts over expenditures for tho nine months ended March 31, 1876, wns $96,379,722, while the excess of receipts over expenditures for the last nine months is $87,053,040, showiug tlie actual falling oft' in reyenue for this year thns far over tlie Bame period last year to bo $9,326,082.