Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1895-04-13
THE YAWNING GULF.

Between Government Receipts and III.
psnditurea. Far Outstrippina the Estt
mates, with Little Prospect Of = Change
for the Better Daring the Fiscal Year
Factors Oontributing to the decreased
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 S42. .299, 400, the totals stand.
ing: Expenditures, 1884. 392, ,Gs6; re.
ceipts, s242.O93. 1866. These figures,
which embody more than three
fourths of the fiscal year, show that
the receipts are running at the rate Of
$S65,00O a day. and the expenditures
are at the rate of Sl,0l5, 900 day.
If the same ratio obtains for the
balance of the fiscal year, the ac-
counts will stand: Expenditures,
$S7o,475,o 900; receipts, $s15, 725, 900. This
would leave an excess Of expenditures
over receipts of S55.O0o,OO0. The ex-
pcnditures are pared down to the low
est bmitaofl 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, 200, 900 Of United
States bonds issued within fourteen
months to protect and strengthen the
treasury gold reserve. e
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. 1t 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, 1000, 900,
would then be only s2o,OOO,O0O.
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 a
general revival in commercial pros.
perity are also pointed to as promising
equally satisfactory results from other
sources of revenue. t
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 court
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 woult
result from such line of procedure, il
might be regarded as extremely proba
able that the justices would pursue ,
similar course in this case.
The treasury has now total work
ing capital of Sls7,OOO0O with SIS,
100000 still owing from the bond syn
dicate. Treasury officials therefor,
think that the treasury will not be
come embarrassed, even if no revenue
from the income tax is derived, ant
that it will not be necessary to ISSUE
any more bonds before congress will
assemble next December and provide
revenue from other sources.