Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-11-17
THE FINANCIAL PROBLEM.
Appropriations and Contracts in Excess
the Probable Revenues.

Appropriations and Contracts in Excess OF
the Probable Revenues.
1t is extremely difficult to tell the exact con-
dition Of the government finances. The treas
ury officials cannot themselves tell Just what
revenues they can count on. 1t is certain. how
ever, that the receipts are far short of the ap-
preparations. Appropriations do not always
mean corresponding expenditures during the
year, but If there are some expenditures going
over from this year to the next there are also
sore from the year before coming over to this
year, SO that it counts up about the same
The estimated revenues for this year, begin
ming the LIST of last July, amounted to s455 =
100000 The receipts for the first four months
of the year indicated an increase of about sl2-
100000 above this amount for the year. but the
chances are tina. there viii be falling OFF of
the importations from this time forward, so
that the increase will not be great.
The aggregate of the appropriations to be
paid out of these revenues was about S507, 000,-
900. This included about Sl47. 600 900 for pen
sions, which will probably prove to be about
s35. 000, 900 short. A deficiency appropriation
of this latter sum will make the aggregate ap-
preparations for this current year S542 900 .000
SS7 DOC, 900 more than the current revenues as
estimated, and S75 000, 900 more than there seems
the least prospect that the receipts will be-
O00,0OO for the sinking fund, which will not
be paid. With this payment passed over there
VIII still be shortage Of about SIS 900 600. ac-
cording TO this showing. This shortage NAV be
temporarily overcome by some such method as
is known among brokers az kiting. but this will
only postpone the trouble. The democrats will
have the situation to face when the Fiftv-third
Congress meets, if it is not tackled at this ses-
sion.
OUTLOOK FOR THE COMING SESSION.
The outlook for this session is. however. that
the aggregate Of the appropriations will be
considerably in excess of that for the present
fiscal year. There viii be no river and harbor
bill passed this winter, but while that bill car
ried an appropriation of S2l.O00,000 last
winter il provided for contracts over and above
that sum aggregsting S3l, 760 600. and there
were then already authorized contracts involv-
ing an expenditure of more than $4,000. 600. In
round numbers the authorized contracts for
river and harbor improvements involve an ex-
penditure of $4,000 900. The whole sum is
properly chargeable to the revenues OF the
next fiscal year, as other appropriations will be
made by other Congresses, making the obliga-
ton accumulative, but there may not be more
than 100000 GOO actually expended during the
coming year. This may stand against the
expenditures for such improvements this year.
The pension appropriation will have to be in
creased to about SlS2 900. 600 for the next year.
this sum to be provided for in addition to
S35, 900, 900 deficiency for the present
year. The routine appropriations for the
running of the government cannot be cut. and
there are certain 20 be increases necessary in
addition to that for pensions. To place the
appropriations to be made at this session for
the next fiscal year at 1851 600, 600 may be con-
sidered a low estimate. The prospects are that
to meet this authorized expenditure there will
be revenue not at all in excess OF that estimate
for this year-S455. 900 900 The reluctance of
importers to pay high duties when there is
the usual increase. This presents the prospect
of deficiency of revenues amounting to Sl02.-
COG, 900 next year to add TO that of about s25.-
100000 this year, not taking into account the
sinking fund for this year.
Here is problem for Congress to wrestle
with at the same time the reform of the tariff
is undertaken