The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1890-07-31
National Finance.

Democratic correspondents having in
dustriously circulated statement to the
effect that there would be Treasury
deficit in 1891 amounting to over $780,
900, Mr.. Cannon, chairman of the
House Committee on Appropriations,
has taken the tabulation in hand, with
the following result, as reported in special
dispatches from Washington, under date
of July 10th
chairman Cannon, OF the House APP
preparations Committee, commenting to-
Gay upon the statement of the condition
OF the appropriation bills made in the
Senate by Mr. Allison few days ago.
which, he said, had been misunderstood
by some and misconstrued by others.
emphatically denied that the amount of
the appropriations by Congress at this
session for the current fiscal year will ex-
coed the revenues. He said
Senator Allison states the aggregate
probable regular appropriations of the
present session at 1888, 1000, 900, which
sum includes the whole amount of the
sundfy civil bill as reported to the Sen
ate, and the whole amount of the fortifi-
cation bill as it passed the Senate and is
bills will almost surely be reduced in the
aggregate $5,000,000 in conference be-
tween the two houses. He also includes
in the said $3.50, 900, 000the 1871 500, 900 de-
1lclenc1es, which have been appropriated
for, and $5,000.000 estimated vet to be
provided for the service of the last fiscal
year.
"peducting the $5,o00,0oO probable re-
duction in conference, leaves 1884, OOO, 600
total probable appropriations at this SEES
sion OF Congress as estimated by Sena-
tor Allison. From this sum should be
deducted the d deficiencies $36, 500, 900, act
ual and estimated which are in no sense
chargable against the revenues for 1891,
or as a part of the expenses of the Gov
eminent for that year, thus reducing the
appropriations Of the session to $317.-
100000 for expenses on account of the
fiscal year 1891
Again, of the 317,500.000 which in
cludes 1928, 700, 900 for rivers and harbors;
81, 800, 900 for Notifications $23, 900, 900 for
the navy, and $32, 100000 for sundry civil
expenses, at least $40, 0O0,000 will not be
expended during the fiscal year 1891.
which would make expenditures, accord
ing to appropriations not exceeding
S297, 50O,0 900, to which sum should be add
ed the permanent appropriations, $101,-
oUu,UUU 1OF Gne interest on the public debt
and to meet the requirements of the
sinking fund, making in all $500, 00O, 200,
chargeable against the revenues for 1891.
Ii the sinking fund be deducted from
this sum there remains $3.50, 0O0,0 900.
There is no reason why taxes should
be levied or continued to further provide
for the sinking fund, as am advised at
the Treasury Department. that the re-
duction of the public debt is at this time
in round numbers S7s5, 900, 900 in advance
of the requirements of the sinking fund
act.
ssThe ordinary revenues of the Gov
for the fiscal year ended June
30, 1890, are reported by the Treasury at
s402, 093 600. Under existing laws there
is no reason to anticipate a less sum from
the ordinary revenues during 1891 The
postal revenues for 1891 are estimated by /
the Postmaster General at $65, 414 900 I
making a total of $467, 497, 600
"Deducting aggregate appropriations
OF $4,000, 900, there will be surplus of |
S117, 497 900, which is more than ample to |
meet the requirements of the new pen
sion law and the reduction of taxation
from the enactment of the Mckinley bill, |
estimated at $60,000,000n