The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-10-05
Not a Deficiency, but q Surplus.

From The N. Y. Times.
We were enabled on Friday to give an ap-
proximate idea of the receipts of the Govern
ment during the current fiscal year, and to
show, from the experience Of the quarter just
ended, the probability of a surplus instead of,
q deficiency. We printed on Saturday an
official statement, which more than justifes
our anticipations. The preparation Of such
document has been rendered necessary by the
gross perversions of fact which have recently
been circulated under Democratic auspices. 1t
is the result of a careful investigation insti-
tuted by the Chairman of the House Commit
tee on Appropriations, and is conclusive
answer to the gloomy prophecies of the Demo-
cratic press.
Estimating the returns of the whols year by
those of its first quarter, the customs revenue
will be $40, ,000, 900, with a moral certainty
that any falling off cannot exceed five millions.
Making the amplest allowance for possible
contingencies, the years receipts from this
source may be stated at $l65, 100000. The
internal revenue, again, may be relied upon
to yield more than $780, 900, 900, while there
is probability that it will rise to near $780,
600, ,000 The smaller of these amounts is
predicated on continuance Of the receipts of
the past quarter, which felt the effects OF the
abolition of industrial taxes without realizing
the gain to accrue from the new law relative
to the collection of the tax on distilled spirits
and tobacco. When the latter shall come into
full operation next month, large additions to
the internal revenue may be expected. For
the present, however, and to avoid the charge
of exaggeration, the estimate is limited to an
average which is below rather than over the
truth. The same desire to be on the safe side
is apparent in the estimated amount of re-
ceipts from miscellaneous sources. They are
put down at $45, 900, 000 although the only
known deviation from those of last year, when
they exceeded fifty millions, is less than two
millions,
After exercising the utmost caution then,
it is fair to assume that the total revenue will
not be less than 1870, ,000 900. This conclusion
is based upon the figures of the first quarter
of the year, verified by the experience of other
years. The amount is more likely to he four
hundred millions, but, for prudential reasons,
Mr.. Washburne has preferred to exclude from
his estimate all doubtful quantities.
Will 1870, 600, 900 cover the expenditures
OF the Government? This is the next point
to be ascertained. Last year the outgo was
slightly in excess of this sum, and the addi-
tions of the current year, under some heads,
are more than covered by reductions under
other heads. The only known additions are
the Alaska purchase, an increase OF more than
two millions in the pension expenditure, and
Post Office deficiency which the department
estimates at five millions; making total OF
$l4, 100000. Supposing no change OF An oppo-
site character to occur, deficiency to that
amount might arise But the saving on the pay
Ments LOT interest will alone balance these ad-
dtlonal items; the interest having last year been
$l4O, 423 $50, while for the present year it will
not vary greatly from $l26, 900, 900. Moreover,
there were last year payments to the
States on account of war debts exceeding ten
millions, which will not recur, or, If at ali
for insignificant amounts. The Freedmen's
Bureau, which last year cost considerably
more than three millions, is this year being
wound up with an appropriation of half {
million. The river and harbor expenditures
have been reduced from six millions to a mil
lion and a half; and the measures of retrench
ment applied to the army and navy will pro
duce saving of twenty-five millions in each
The total reductions as compared with las
years expenditures form an aggregate o