A clearer comprehension of the financial standing of the government may be had from an inspection of the following tables:
Statement of receipts, expenditures, and surplus of the Insular government, 1921–1922
[Source: Bureau of Audits]
| Items of revenue and expenditures | 1921 | 1922 |
| Revenue: | Pesos | Pesos |
| Licenses and business. | 14,246,440 | 13,755,670 |
| Import duties. | 12,778,791 | 11,362,250 |
| Excise Tax. | 13,327,843 | 13,444,281 |
| Income tax. | 4,880,370 | 1,943,716 |
| Wharfage tax. | 1,473,627 | 1,852,095 |
| Franchise tax. | 243,618 | 109,749 |
| Documentary stamp tax (customs and internal revenue). | 951,809 | 990,933 |
| Immigration tax. | 237,040 | 239,152 |
| Tonnage dues. | 254,515 | 276,130 |
| Inheritance tax. | 210,303 | 121,812 |
| Revenue from public forests. | 923,216 | 854,337 |
| United States internal revenue. | 756,444 | 1,428,959 |
| Fines and forfeitures. | 663,415 | 799,553 |
| Sales and rentals of public domain. | 22,110 | 24,254 |
| Income from commercial and industrial units. | 12,771,068 | 11,130,403 |
| Income from operating units. | 254,514 | 133,698 |
| Dividends on bank stock. | 463,373 | —— |
| Interest repayments, railway companies. | 192,716 | 387,785 |
| All other income[1]. | 67,430,039 | 74,427,334 |
| Prior year adjustments. | 1,282,547 | 531,826 |
| Total. | 133,363,798 | 133,813,937 |
| Less apportionments of internal revenue to local governments. | 3,164,084 | 3,164,084 |
| Total revenue. | 130,199,714 | 130,649,853 |
| Expenditures: | ||
| General administration[2] | 2,046,646 | 2,272,591 |
| Legislation | 1,413,541 | 1,547,683 |
| Adjudication | 1,891,080 | 1,747,093 |
| Protective service[3] | 5,783,904 | 4,866,840 |
| Social improvement[4] | 13,084,682 | 13,709,846 |
| Economic development[5] | 53,820,568 | 14,037,386 |
| Aid to local governments | 14,305,267 | 15,561,867 |
| Expense of revenue collection | 11,275,497 | 9,963,714 |
| Public debt | 3,811,266 | 5,117,494 |
| Public works and purchase of equipment | 10,209,597 | 9,670,476 |
| Retirement gratuities[6] | 521,226 | 397,886 |
| Pensions Acts 2909 and 2922 | 12,000 | 12,000 |
| Prior year adjustments | 18,937 | 6,248 |
| Total | 118,194,211 | 78,911,424 |
| Current surplus for the year | 12,005,503 | 51,738,429 |
| Current surplus at the beginning of the year | 43,937,712 | 55,943,215 |
| Current surplus at the end of the year | 55,943,215 | 107,681,644 |
[1] Includes income incidental to functional activities, sales of fixed property, Friar Lands estates and San Lazaro estate, proceeds of loan from currency reserve fund, and sales of agricultural bank loans, etc. [↑]
[2] Executive direction and control. [↑]
[3] Includes expenditures on law and order, national defense, suppression of animal diseases and plant pests, protection against forces majeures and other protective service. [↑]
[4] Includes expenditures on public health, public education, public corrections, public charities, and other social improvements. [↑]
[5] Includes expenditures on conservation of natural resources, development of commerce and agriculture, regulation of public utilities, Philippine publicity, development of industrial arts and sciences, operation of commercial and industrial units, corporate investments, advances to railway companies under guaranty contracts and exchange on advances to railway companies, etc. [↑]
[6] Act No. 2589, amended by Act No. 2796, provides for a gratuity by reason of retirement to officers and employees of the Philippine Government who have rendered satisfactory service during six continuous years or more. [↑]