Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1894-08-28

ouu AEI IucbbAub an JAiACAht btatoAutnt
from me as to the effect the pass
age Of these bills or either Of them
woold have upon the revenues of
tho government, is received, and
in response I have the honor to say
that, according to the most careful
estimates that can be made in the
proposed revenue legislation which
has recently passed through con-
gress, the total receipts into the
treasury during the current fiscal
year will be ga follows: Estimated
revenues for fiscal year ending
June 30, 1896, from duties on inn
ports, senate bill, including S43,
600, 600 on sugar, ,s179, 100000; from
internal taxes-whisky, 1896, ,0OO,0 600;
tobacco, S33,OOO,0OO; income tax,
s15,OOO,0OO; oleomargarine, 81, 800.
600; playing cards, 81, 100000; mis-
cellaneous, 100000; total internal
taxes, s179,OOO,OOO; from sale of
public lands and other miscella-
neous sources, S20,0OO,OO0; total
estimated revenues, S378,OOO,0OO.
The estimated receipts for the
present year from the proposed
tax on incomes and playing cards
and the proposed additional tax of
20 cents per gallon on distilled
spirits are, it viii be observed,
much less than is stated in the
various tabulated statements which
have heretofore been used in the
discussion of these subjects, but /
am satisfied the amounts here
given are approximately correct.
The proposed income tax will
not be payable by the terms of the
bill recently passed until on or be-
fore July l, 1896, which is the
close of the fiscal year, and it is
estimated by the commissioner Of
internal revenue that by reason of
the large stock on hand the re-
ceipts from the tax on playing
cards will not amount to moro than
S1.0O0,0OO during this year. The
estimated increase Of receipts on
account of the additional tax
on distilled spirits during the
present year has already been
prevented to a great extent by
Withdrawing of large quantities of
goods from the bonded warehouses
and the payment of tax thereon
at 80 cents per gallon, and this
process is still going on. The
total expenditures during the cur
rent fiscal year viii be as follows:
Civil aud miscellaneous, including
deficiencies in postal revenues,
| $80,O00,000; war, including rivers
and harbors, S56,OOO,OOO; navy, in
cluding new vessels and arma-
ment, S33,OOO,OOO; Indian, S1O,-
100000; pensions, $l43,000,000;
the interest, S30,50OOOO. The
total expenditures, S63,60O,OOO.
Estimated surplus for year, S15,-
100000. The duty on sugar pro-
posed in the recent bill, will, ac-
cording to importations of that
article during the fiscal year 1898,
yield an annual revenue Of S43,-
718,58S, and the duties on the
other articles mentioned in your
communication would yield under
that bill about one million; that
is to say, iron ore s270,920; coal
| S436, ,149 and barbed wire, fencing
wire and wire rods Of iron or steel,
when imported for the manufac-
ture of barbed wire fencing, about
100000.
ut viii be seen, therefore, that
If sugar alone is placed upon the
free list the expenditures during
the present fiscal year viii exceed
the receipts to the amount Of S28,-
478,058. and if the duties are re-
moved from all the articles
specified in your letter the
deficit win be S29,780,790,
not including any expendi-
tures on account of the sinking
fund Of the payment Of S2363,OOo
Of Pacific railroad bonds, which
win mature this fiscal year. In
: view Of the existing and prospec.
tive requirements, / think itwould
not be safe TO place ali Tho articles
enumerated IN your letters or even