Public Debt.
| On the 1st of January, 1891, the public debt was | $ 89,848,850 |
| Augmentation of the public debt during the year | 86,182 |
| —————— | |
| $ 89,935,032 | |
| Redemption in 1891 | 2,145,059 |
| —————— | |
| Public debt on the 31st of December, 1891 | $ 87,789,973 |
All the external public debt has been unified, including in it what was owed for the guarantee to railways, and also what remained due of the external debt service. The interest to be paid has been lessened and definitely established at the rate of 3½ per cent., and the redemption by the outbidding system has been restored.
The internal consolidated debt has also been unified with an interest of 4 per cent., and redeemable at the rate of 1 per per cent., accumulatively and by outbiddings.
The external consolidated debt (3½ per cent.) is $90,710,000.
The internal unified debt (4 per cent.) is $7,500,000.
The international debts, according to treaties with Italy, France and Spain, are $1,987,125.
All these debts that will be issued when these lines are published will form, more or less, a total of $104,000,000, mortgage bank warranty debt included.
Budget of Expenditure.[1]
The financial year begins on the 1st of July and concludes on the 30th of June of the next year.
From the financial year of 1889-90 it has been the anterior budget which has gone on ruling, with a general deduction of 10 per cent., and with some augments and changes in other parts of the budget.
A new budget for the financial year 1892-93 is going to be voted, which will consist of the following amounts:
| I.—Administration: | |
After a discount of 20 per cent. on the wages | $5,840,306.41 |
| II.—House of Legislation | 582,558.00 |
| III.—Passive Classes: | |
That is to say, annual allowances paid to pensioners, civil and military, soldiers disabled by wounds or age, widows and sons of the 33 Orientals who assegurated the national independence in 1825, citizens who took part in the Independence wars, etc. After a discount between 4 and 15 per cent | 1,324,503.32 |
| IV.—Public Debt and Guarantee to Railways | 5,724,620.24 |
| Various credits | 144,394.52 |
So as to attend to this budget the Republic counts with the following incomes:
| Customs duties | $8,577,622.84 |
| Duties on property | 1,750,549.54 |
| Licenses | 925,535.87 |
| Stamped paper | 337,141.31 |
| Stamps | 219,548.57 |
| Taxes on manufactures | 256,751.59 |
| Postage | 203,585.73 |
| Public education | 219,251,13 |
| Ports | 56,414.46 |
| Duties on Inheritances | 127,363.80 |
| Duties on the signature of public acts, being excepted the value of the stamped paper | 15,162.02 |
| Police Duties | 36,473.40 |
| Revenue of the municipalities in the departments | 100,320.92 |
| Duties on amphibious fisheries | 7,000.00 |
| Cattle-marks | 3,000.00 |
| Duties of 1 per cent. on payments | 78,049.51 |
| Civil and military house for pawning | 56,534.74 |
| Eventual incomes, and revenue of the renting of lands belonging to the State | 15,570.41 |
| ————— | |
| Total | $12,985,875.84 |
NEW DUTIES.
| Augmentation of the duty on slaughterhouses | 80,000.00 |
| Augmentation of the duty on inheritances | 140,000.00 |
| Augmentation of the import duties | 127,500.00 |
| Augmentation of the municipal duties | 100,000.00 |
| A discount of 20 per cent. on the wages of the clerks of the Montevideo municipality | 65,350.00 |
| ———— | |
| 512,850.00 |
RECAPITULATION.
| Resources | $12,985,875.84 |
| New resources | 512,850.00 |
| —————— | |
| $13,498,725.84 |