The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1895-04-12
SUBSCRIPTION: sl.OO Per Year.
THE YAwNlNa GULF

Between Government Receipts and Ex-
pendItures Far OutstrippinE the Esti-
mates, with Little Prospect of q Change
for the Better During the Fiscal Year
FACTORS Contributing to the Increased
Expenditures.
WASHINGTON, April s.-From the last
daily statement issued by the treasury
department it appears that the ex-
penditures for the current fiscal year
to date of $50 days have exceeded the
receipts by $40, 299, 400, the totals stand
ing: Expenditures, $2s4, 392, ,6s6; re-
ceipts, $242. .O93, 1876. These figures,
which embody more than three.
fourths of the fiscal year, show that
the receipts are running at the rate of
1865, 600 a day, and the expenditures
are at the rate of 81 1,Ol5.OOO day.
If the same ratio obtains for the
balance of the fiscal year, the ac-
counts will stand: Expenditures,
1870, 475, 900; receipts, $315; ;725, 900. This
would leave an excess of expenditures
over receipts of $55, 900, 900. The ex.
penditures are pared down to the low
est limit of economy consistent with
fixed appropriations made by law and
are likely to be increased rather than
diminished. The increases in this fis-
cal year have arisen from two princi-
pie sources, namely: Appropriations
by the last congress made Immediately
available and the quarterly interest
payments on the $l65, 900, 600 of United
States bonds issued within fourteen
months to protect and strengthen the
treasury gold reserve.
So far this month expenditures on
the ''civil and miscellaneous account"
the account that carries the principal
items made Immediately available by
congress, are $500 in excess of the cor
responding period last month. It is
therefore to increased receipts that
the treasury must turn to bring the
treasury receipts and expenditures
close together and bear out the esti-
mates laid before congress, which
claimed at the end of the fiscal year
the deficit, which is now $42, ,OO0, 900,
would then be only $40, 600, 900.
Import statistics yesterday made
public by the bureau of statistics hold
out hope that the increased rev.
enues from sugar duties may come
up to the estimates. Indications of
perity are also pointed to as promising
equally satisfactory results from other
sources of revenue.
The question as to what amount of
money will or will not be derived from
the income law seems to be the only
important doubtful factor left in the
treasury calculations, and this can
only be solved when the supreme cou It
makes public its decision in an author
itative way. This will probably be
done to-day, but it is by no means
an absolute certainty that the deci-
sion will then he rendered. On other
occasions when purported abstracts of
supreme court decisions have been
published in advance of their rendi-
tion the court has withheld the an
nouncement of its conclusions for sew
eral weeks If it was not for the fact
that great public inconvenience would
result from such a line of procedure, it
might be regarded as extremely proba-
able that the Justices would pursue a
similar course in this case.
The treasury has now total work
ing capital of s1s7, 100000, with S1s,-
100000 still owing from the bond syn
dicate. Treasury officials therefore
think that the treasury will not be-
come embarrassed, even if no revenue
from the income tax is derived, and
that it will not be necessary to issue
any more bonds before congress will
next December and provide
revenue from other sources.