394
UNITED STATES
The total estimated ordinary receipts for 1914. on ahasis of existing la\vs, will be 710,000,000 dollars (142,000,000^.), and the expenditure, 732,556,023 dollars (146,511,200/). The expenditure on the construction of the Panama Canal is estimated at 30,174,432 dollars (6,034, 800Z).
On June 30, 1912, the cash balance in the Treasnr)'^, exclusive of reserve and trust funds, amounted to 16>>,263,808 dollars.
National debt on the 1st of July at various periods from 1880 :—
Year
Capital of Debt
Year
1909 ]910 1911 1912
Cai.ital of Debt
1880 1900 1907 1908
Dollars 2,120,415,370 2,136,961,092 2,457,188,062 2,626,806,272
Dollars 2,639,546,241 2,652,66.5,838 2,765,600,601 2,868,373,874
The net debt — that is, what remains after deducting the cash in the Treasury— was 1,027,574,697 dollars on June 30, 1912. About one hundred and eighteen and one-half millions of the interest -bearing debt is at 4 per cent., and the rest at 2| and 3 per cent.
In 1900 the true value of property was estimated at 88,517,306,775 dollars ; in 1904, at 107,104,192,410 dollars.
II. State Finance.
The revenues required for the administration of thesejiarate States are de- rived from direct taxation, chiefly in the form of a tax on property real and personal ; and the greater part of such revenue is collected and expended by the local authorities, county, township, or scliool district.
For details see the separate States.
Defence.
I . Army.
The military forces consist of a Federal regular aimj^ obtained by voluntary enlistment, of the National Guard (also obtained by voluntar}' enlistment), which belongs to the different States, and of a reserve to the National Guard which is unorganised but means a levie en masse.
In the regular army enlistment is for seven years, of which four years are spent with the colours and the remaining three 'on furlough ' — practically in the reserve. Re-enlistment for a further term of seven years is allowed under certain circumstances. The pay of a private in any branch of the service is 15 dollars a month (about 2.*. a day) at first ; but the soldier can obtain ' continuous service ' or ' re-enlistment ' pay, so that after three years he may be drawing 18 dollars a month, equivalent to about 25. M. a day. The minimum height is nominally 5 feet 4 inches, and the chest measurement 32 inches, but a certain relaxation of standards is allowed.
The U.S. Infantry is organised in 30 regiments of 3 battalions, each of 4 companies ; the ordinary peace strength ol a company being 3 officers and 65 men. The Porto Pico regiment (natives), now a ])art of the regular establishment, has 2^ battalions of 4 companies. There are, 15 cavalry regiments of 3 squadrons, of the .same strength as infantry companies : the cavalry are practically mounted rifles. Two infantry regiments and 2 of cavalry are composed of negroes, with Avhite officers. Four special infantry regiments and two special cavalry regiments have moreover been organised for permanent service in the Phillipii.es. The field artillery of the U.S. Army comprises 6 regiments, each of 6 batteries; of these, 2 regiments
