...... 38,116,916.22
For the naval establishment, including vessels, machinery,
and improvements at navy-yards.......................... 13,536,984.74
For miscellaneous expenditures, including public buildings,
light-houses, and collecting the revenue................ 34,535,691.00
For expenditures on account of the District of Columbia.. 3,272,384.63
For interest on the public debt......................... 95,757,575.11
For premium on bonds purchased........................... 2,795,320.42

leaving a surplus revenue of $65,883,653.20, which, with an amount
drawn from the cash balance in Treasury of $8,084,434.21, making
$73,968,087.41, was applied to the redemption--

Of bonds for the sinking fund.......................... $73,652,900.00
Of fractional currency..................................... 251,717.41
Of the loan of 1858......................................... 40,000.00
Of temporary loan.............................................. 100.00
Of bounty-land scrip............................................ 25.00
Of compound-interest notes.................................. 16,500.00
Of 7.30 notes of 1864-65..................................... 2,650.00
Of one and two year notes.................................... 3,700.00
Of old demand notes............................................ 495.00

Total................................................... 73,968,087.41

The amount due the sinking fund for this year was $37,931,643.55.
There was applied thereto the sum of $73,904,617.41, being
$35,972,973.86 in excess of the actual requirements for the year.

The aggregate of the revenues from all sources during the fiscal
year ended June 30, 1880, was $333,526,610.98, an increase over the
preceding year of $59,699,426.52. The receipts thus far of the current
year, together with the estimated receipts for the remainder of the
year, amount to $350,000,000, which will be sufficient to meet the
estimated expenditures of the year and leave a surplus of $90,000,000.

It is fortunate that this large surplus revenue occurs at a period
when it may be directly applied to the payment of the public debt soon
to be redeemable. No public duty has been more constantly cherished
in the United States than the policy of paying the nation's debt as
rapidly as possible.

The debt of the United States, less cash in the Treasury and exclusive
of accruing interest, attained its maximum of $2,756,431,571