The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-11-23

Totals .SlU,olelU ozJ NT9Z,i yo
1t appears by this, that there was a deficiency for
the year ending June 80, 1919 Of SS,t2),ll2 Had
added the Mexican indemnity paid the last quarter,
the deficiency would have been Sl202o1l2. or this
deficiency, so 677, 23i paid Mexico, leaving an
actual deficiency In the from ordinary sources
s2342S7s.
Here is foreshadowipg Of the future, of what are
to expect from the financial skill Of the Treasury de-
partment-o the extravagant policy pursued by the
party now In power. when Mr.. Walker left the office
Of Secretary Of the Treasury he les legacy to HIS
in the shape Of unsettled which
sure to embsrrass the administration, and bring
upon 1t the odum Of making loans in the time Of
peace Such predictions long before the close
OF the Polk administration, aud find, in less
than six months after the present administration came
into power, they are verified. The deficiency the
Goth Of June last according to the statement pub
lisbed on the 22d Of August was eight and half mil
lions of dollars This Independent OF extraordinary
revenue and expenditure such instruments due
loans and sums due account Of the Mexican in
demnity; but these items about OF each other
the result remains the For the purpose Of show
ing the condition Of the treasury at the close Of the
quarter ending September 3oth 1912 returns
Tor that quarter of and expenditures, In
necton with those for the year ending June 30th,
1Si9 -
UNrrp STATES FnSAscrs- oaDIsAnr RrygSurA AND En-
PENDIrUhEs.
Tor year ending June 30, 1919. $50 26i 722
Aggregate ordinary expenditures. 4i,7si sa4
Deficiency, June 20, 1si9. ........ ss,52lil2
Revenue from ordinary sources
quarter ending Sept 30 ls49. .SI1 o95 600
Ordinary expenditures. ei0ts,Vv9 $4,000
Deficiency Sept 80, 1870. ..............s4599,i 2I
II be borne in mind In examining this table that
tn urpus Of expenditures for the quar-
ter ending Sept 80 ls49. was produced by an extra
tt,.t
quarter, and that the from customs for the
quarters ending December 8lst 1s49 and March 31st
1850 will be comparatively small, while the expendi-
lures will be comparatively large. Our financial af-
fars, connected with the Mexican war, the Mexicsn in
demniy and the Mexican claims, are In the greatest
eonfusisn, and 1t will be long time before shall
find out what the actual aggregate cost Of that
and all its contingencies will be IL has already
ceeded the calculations of all parties and there
stacks of claims unsettled II IL already pretty salts
sctoiy settled that at the close Of the present fiscal
year the deficiency will to about twenty Eve
millions CT dollars and s3pli cation must be made to
the Congress about ming for the passage Of
act, either authorizing q new lean large enough to
meet oil present and pro, peetive deficiencies an
Issue Of treasury notes Tor the amount required.
The for customs for the past two years has
been larger than in any previous year. with
one exception-1s36; In the Ease Of which, fnd
dclcltreys anu VI Nhus.
For the quarter ending September co. lsao the
from customs amounted TO Gil 100000 being about t~o
and half millions Of dollars Of the for
the corresponding quarter Ia 1912 At this rate the
venue preseAt fiscal year should be
at least s3 oc0 notwithstanding which the
Of the administration admit that there viii be de-
fceucy at the close Of the fiscal yee OF fifteen
to twenty millions Of dollars II seems that the greater
the Of the government the greater the expsn
diture; that ample bsget extrsvsg,nce The
present administration has either squandered immense
Of money, in settling up growpg out os
TIE Mexican wer ip allowing claims repudsted BY MIR
walker else the old administration made wrong cal
cnlations ana under estimated the expense, Of the
campaign and its contingencies IL IL our impression
that both parties will In for share of the ansu-
csi bunders, but the present. administration have the
task Of working out OF the difficulties It.
There se two ways of doing this and only tro-ons 10
the reduction Of expenditures retire nchment and re-
form In every department OF the governu, emit This
is the first aud most important maize in resor-
ing the treasury toa proper condition The second Is:
the increase OF income by such notifications In the
taiiG ~ will insure additional customs
This cannot be accomplished by any increase In the
average rate Of duty ~ has not only been clearly
and satisfactorily that low duties Weld
the greatest but that the tariff act Of 1915 has
proGuc,ds greater average income from customs siras
1t has been In operation than any previous tariff sith
In the history Of the country Still there u room for
improvement There defects 10 the tariff of1sts
but they will not be BY any In the AVER
age rate OF duty. Certain notifications are necessary
tuch ss the enforce q speoac duties in Place Of
cd rslorea, in certain where greater revenue
would be derived without any actual Increase Ia the
Per cent duty and those that required to insure