Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-10
THE PROBABLE DEFICIT
1t Will Not Be as Great as Was An
ticipated.
Careful Estimates Presented Show tn G
Amount VIII Not be Over
$7O,OOO,OOO.

are SOOu reasons Tor the belief
that the deficiency in the revenues of the
government for the present fiscal year will
fall considerably below Mr.. Carlisles esti-
mates. In his statement before the House
Judiciary committee on January 20 last the
secretary expressed the opinion that the
oencit for the year would be $4,000, 600 or
$40 900, 600
But the conditions have changed some
what since then, and it is now the opinion
OF experts. who base their estimates upon
the best data obtainable. that the deficiency
at the close of the present fiscal year will
De found not to exceed s7O.OOO.OO This
conclusion Is arrived at independent Of any
increase IN the receipts from internal reve-
Tue, incident to a probable increase in the
duties In the liquor tobacco and other
scheduies OF the pending tariff bill.
Estimates of Receipts.
The closest and most careful estimates of
the receipts from customs places the
amount at the close of the year at S135
100000, Of which So. 657, 400 had already
been realized on March 1. 1t is expected
that until the new tariff bill becomes a. law
there will not be any considerable irnporta
luis except 10 meet current needs and an
active market. Merchants during the last
year and particularly during the last six
months. IT Is argued, have been pursuing a
very cautious policy as to purchases abroad
ana as consequence their stocks of goods
nave Deen reduced to very low point AS
suming that this conservative poiicy will he
continued and that the customs receipts
Will continue to slowly decrease for the re-
lllaining months of the year. the aggre-
sate would still reach $l35.O00.OOO. The re-
ceipts from internal revenue are closely es
timated at $14O 100000. IL uninfiuenced bv
peEdink legislation. and the receipts from
miscellaneous sources. S1SOOO.OOO. making
nnn
Expenditure Estimates.
The civil and miscellaneous disburse-
ments will probably reach sos. 900 600 of
which the bounty on sugar will take slO.
OOO.OOO and possibly a little more. The
disbursements through the War Depart
ment. it is thought. will aggregate about
so4.OOOOOU. and of this amount about s15
UOOOOO have already been paid on account
or river and harbor appropriations
The cost Of the Navy Department. includ-
ing payments for the construction OF wa r
vessels and premiums the same, it is
estimated, will amount to about s33 ono OOO
The Indian service Is expected 70 cost
approximately SlO,OOOOOO. Last year the
payments on this account were abnormally
large III consequence Of s3.000,00O paid to
the Cnoctaws for ceded lands.
Decrease in Pension Payments.
A material decrease is anticipated in the
amount Of pension payments, and IL Is NOT
believed that the aggregate for the vea-
will exceed s14OOOO,OOO. This expectation
seems to be justified by the fact that dur.
ing the first eight months Of the present
nscal year the payments on account Of
pensions amounted to only SIS, 900 As
against slo696o,Si' during the same period
or last year. which is a decrease in the
signt months of more than S133UOOOO
The interest account will probably not ey
ceed $2I, 100000 The items which GO to
make up this amount, stated In round
numbers, are: Interest on 4 per cent 1907
bonds, SD. 400. 900; interest on Pacific rail.
road bonds already paid. $3.50 900; interst
on l-2 per cents continued at per cent
$oUWo; quarterly payment of interest on
the new 1904 loan, S50OO0. These figures
make a total of $362. 100000 of exuendi-
lures. or a deficiency of 500 400, 900.
A Still Further Reduction.
This estimated deficit, however, Is very
likely to be materially reduced by the with
drawals from bonded warehouses of
whisky and alcohol before the pending
tariff bill becomes law and is pat into
effect There are now in bond about lJ3.-
100000 gallons of high grade spirits, of
which about 100000 gallons are rye and
Bourbon whiskies, and about J5, 5000
gallons or alcohol and low grade whisky
1t is argued that as alcohol does not in
crease in value with age, but ra ather det arj-
crates, nearly the whole amount now In
bond will be withdrawn to avoid the pay
ment of increased duties. and it is believed
that or the best grades of whisky now in
bond large percentage would be with
drawn for the same reason
1t is therefore confidently expected that
the effect Of the increases made by the
senate and House in the whisky tax will
reduce the deficit for the year by from
$1O,OOO,OOO to s20,OO0,0OO.