Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1892-11-25
NATIONAL FINANCES.

|
TIoN OF THE BULLION DOLLAR Con-,
| GREss.
1t is all put impossible to tell the
exact condition of the government
finances. The treasury officials can.
not themselves tell just what reve
nucs they can count on. 1t is Ger.
tain, however, that the receipts are
far short of the appropriations. APP
preparations do not always mean cor.
responding expenditures during the
year; but if there are some expendi.
lures going over from this year to
the next. there are also some from
the year before coming over to this
year, so that it counts up about tho
same.
The estimated revenues for this
year, beginning LIST of last July,
amounted to S455. 100000. The re-
celpts for tho first four months of
the year Indicated an increase of
about $4,000, 900 above this amount
for tho year, but tho chances arc that
there will he IL falling off of the in
portations from this time forward, 80
that the increase will not be Ms great.
The aggregate Of the appropria
tions to be- paid out Of these revo
nues was about S5O7. 100000. This
included about S147, 900, Geo for pen
sions, which will probably prove to
DO about S3J,000.000 short. A do
ficiency appropriation of this lnttor
sum will make the aggregates nppro
priations for this currcut year 1912.
100000, or SS7,O00,OOO more than
the current revenues estimated and
S75,000,0O0 moro than there seems
the lcnst prospect tho receipts will
be. Thi. includes in tho neighbor
hood of $4,000, 900 for the sinking
fund, which will not be paid. With
this payment passed over, there will
still he shortage of S25, 100000 nc
cording to this showing. THIS short
age may bo temporarily overcome by
such methods as is known among
brokers' as 'kiting,' but this will only
postpone the trouble. Tho Demo.
Gratis will have the situation to face
when the Fifty third Congress meets,
If it is not tackled ut this session.
The outlook for this session is,
however, that the aggregate OF the
appropriations will DO considerably
Ill excess of that for the present tis-
cal year. There will be no river and
harbor bill passed this winter, but
while that bill carried an appropriu-
ton Of S21,00O,OOO last winter, it
provided for contracts over and above
that sum aggregating S31.790,OOO,
and there were then already author.
lied contracts involving M expondi
ture of more than S0,OO0,O0O. In
round numbers the authorized con-
tracts for river and harbor improve
ments involve an expenditure of $40,
O0O.O00 The whole sum is properly
chargeable to the revenues of the
next fiscal year, as other appropria
lions will be made by other Con
crosses, making the obligation nc.
cumulative; but there NAV not be
more than $40 100000 actually ex.
pended during the coming yenr. THIS
may stand ns against the cxpendi
lures for such improvements this
year.
The pension appropriations will
have to be increased to about 1882.
100000 for the next year, this sum
to be provided for in addition to
S35,0OO,O00 deficiency for the pres.
ent year. The routine appropria-
tons Tor the running of the govern
ment cannot be cut, and there are
certain to be increases necessary in
addition to that for pensions. To
place tho appropriations to DO made
Mt this session for the next fiscal year
at S557 100000 may be considered n
low estimate. The prospects are that
10 meet this authorized expenditure
there will be revenue not Mt nil in
excess of that estimated for this wear
-S445, 100000 The reluctance of
importers to pay high duties when
there Is prospect of reduction
Will probably prevent tho usual in.
crease. This presents the prospect
OF deficiency of revenue amounting
to SlO2.oO0,0OO next year, to add to
that of about S25, 100000 this year,
| not tnlSinCr into oononut +Lo :,.