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leaves tirii.st ending 3Ist December, 1883. of $I20, 39l 5S. To this sum add the deficit ex- 's'ing on the lst July, 1883, Sl95,20s 40, and the balance Of the debt against the de- partment, beyond the amount of its availa- ble funds, was on the lst of Jan. 1884, $3l5,599 9S.

 From the 1st of January, 1884, the re- trenohnients ii the transportation of the maIl, stated ID my report ot last year, begun to take effect; and from that period the re- venues of the department have exceeded its expenses. The gross amount of post ages wass from January l, to June 30, 1884, $l,44S,269 69. Compensation to post masters, including the contingent expenses of their offices within the same period, amounted to S46l ,433 64. Incidental ex- penses of the department for the same time, amounted to $30,300 3s. The transpor- tation of. the mail from Jan. |, to June 30, amounted to $909, ,02S 43; making. the to- tai expenses of the department for the half year ending the 30th of June, 1884, $l, 460,762 45. This sum deducted from the gross amount of postages for that period, leaves a revenue, beyond the amount of ex- penses for the half year from January l, to June 30th, 1884, of S47,5 24. The sum deducted from the deficit existing Jan. l, lS34, 1899 9s.) reduces the balance of debt which existed against the depart ment on the lst of July, 1884, to $26S, O92 "A.

 

 Such was the financial condition of the, department on the first day of July last. The amount of this debt has been contin- ually diminishing 10 the present time, and 1t continues to diminish ln an increased ra- tio.

 On the first of July, 1884, the balance of the account with banks was $396,6l6 99 against the department, consisting of loans, $279,000, and over-checks 10 the amount of $123,616 99. In this statement. the difference between loans and over-checks is rather nominal than essential. When over-ehecks are mutually agreed upon to a certain definite amount, as standing order, they are called loans; but when they vary | indefinitely as 10 time and amount, they are called over checks. In either case they are debts due from the department to banks.

 This amount of balance against the de- partment. has been considerably reduced since the lst of July last. On the lst day of the present month 1t stood as follows: ymount due for loans from banks, S275 GOO. Amount of over-checks, Nov. ls 1 1854, $55,969 09, making together the sum of $33o,969 60. On the same day the balances of bank deposites in favor O the department, constituting the amount ol cash on hand, amounted to $82,o31 34 making the actual balance of the accoun with banks, against the department, on the lst November, 1884, $24S,937 75.

 The contracts for the southern section including the states of Virginia, North Car olina, South Carolina and Geogia, and the Territory of Florida, which will expire with the current year, have been renewed, to take effect from the lst of Jan. next, on such terms as will effect an annual saving from the amount now paid for transportation l in that section, of about $l2O,OO0. Addi- tional retrenchments have also been made in the expense of transportation, subsequent to my last report, to the amount of about $59, 900; making, together, an annual sa- wing, from the lst of Jan. next, of Sl79. eco.

 From the savings thus effected, together with the current excess of revenue in fa- vor of the department, ii may be safely calculated that without any reliance upon an increase m the gross amount of post ages, the revenues of the department will exceed its expenditures, during the ensu- ing calendar year, to the amount of $270, 900.

 From a careful estimate it may be an- ticipated with entire confidence, that be- fore the close of the year S35, the whole balance of debt against the department will be extnsuished.

 No part of this debt was contracted up- on the credit of the Treasury, nor upon any other credit or authority than that of the department alone. It was never re- garded by either of the parties in the char acter of debt of the government, but a mere expedient to anticipate the resources of the department, based upon the credit of those resources alone. The means oi it's liquidation. within reasonable time, were always within the legal control of' the head of the department, and no other means have, at any time, been sought or desired by the department. In my report of November, 1853, the expense for trans porting the mail, and for incidentals, from July l, 10 Dec. 31, 1853, was estimated at $l,06l, ,644 II. The actual expense for that period was $l,06l,l99 97. Varying from the estimate only S444 "A. The