Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-10-20
FIGURES POINT TO DEFICIT.
Secretary Carlisle Thinks 1t May Amoun
to- 4 bout $50 OOO. 600.

to About sou, OOO.OOo
WASHINGTON, Oct. Ex-senator McPhtr-
son, from the finance committee, has sub
mitted TO the senate the report Of the
committee OF Stewards resolution that
1.-The secretary of the treasury Is directed
70 inform the senate whether there is
danger Of deficiency in the revenues OF
the government during the current year, "
etc. The matter WIS referred TO the
secretary of the treasury. and his reply
constitutes the report the committee sub
mits. Secretary Carlisle, in reply, sends
statements relative 10 the estimates in
question, which comprehend substantially
the information sought by the resolution.
The estimated receipts submitted to the
last congress for the present fiscal year
were $405, 09C 900 and estimated ex-
pendittures 1913 900 90 postal service ex-
cluded in both cases showing an estimated
excess Of recei pts Of S32 000,OOn
The actual receipts for the first three
months OF the fiscal year, however were
$40, 81 Az, beng 81 ,29O, 19i less than the
monthly average estimated receipts FOR
the entire year and showing for the fist
quarter deficit of 81, 21l 600, as com
pared with the same period of the pre-
vious year. Should the actual receipts
for the remainder of the year continue at
the same monthly rate they would
amount at the end of the year to ID sum
81, 49,, 329 less than the estimates for The
year. TIE actual expenditures FOR the
first quarter of the Present fiscal year
amount 10 80, As, III, and if continued at
the same ratio for the balance of the wear
would be about $50, S36, 5'S in excess of the
estimates Tor the year, and would also
show an excess of expenditures over the
supposed actual receipts for the year, es-
timated of say sc. BIS, s3S.
The secretary is of the opinion, how
ever, that the operations of the treasury
department for the past three months are
not indicative of the result of its opera
tions for the remainder of the fiscal year.
because of the uncertainty surrounding
the fiscal and commercial conditions of
the country. The receipts OF the treasury
departments for six months preceding the
commencement Of the fiscal year were APP
proximately al an average mouthly rate
of $3l ,419.72l, and if the same conditions
had continued through the present fiscal
year deficiency would have been avert
ed entirely, or at the most il would have
been very small.
III conclusion the secretary says: $50
much depends upon the financial and com
mercial condit ion of the country and the
action of Congress in the meantime, that
no present 81 tisfactory forecast can be
made with sufficient definiteness to be the
subject of an official opinion at this time
as to the amount of any contemplated de-
ficiency, either in the estimates indicated
or the actual public revenues 1t is ap-
parent, however, that should the present
conditions cor time for any considerable
length Of time deficiencies are likely to
occur, which should be either averted or
met by appropriate legislation.
"a simple calculation will show that
with the small working balance in the
treasury, and which had been decreasing
in varied ratios for several years, if there
be no improvement in the receipts of the
revenues for the remaining three fpurths
OF the present fiscal year and no legislative
reduction % expenditures, there may be
contemplated deficit at the end of the
year OF $50, Gao 600 in the revenues and over
SS0,00000 with reference to the esti-
mates"