The evening times., 1896-07-04
DEFICIT IS DECREASING
Treasury $25,5OO, 900 Short
for the Fiscal Year.
GOOD BUSINESS NEEDED
With General Prosperity the Treas
ury Officials Believe There Would
Present Sources of Revenue Re-
garded as Sufficient.

The end of the fiscal year OF the gov
ernment shows deficit in receipts, as
compared with current expenditures, OF
S25,5oU,0O0. The total receipts up to the
close Of business June 80 were $325,026,-
3I0, and the expenditures were Sool $780,
$50. These figures include simply the
receipts and expenditures for pensions,
interest on tie public debt and the main
tcnance OF the government, and do not III
clude The to.tal receipts ana expenditures,
nor the proceeds Of bond sales or payments
on the principal Of the public debt.
Tac Eostal receipts have not yet been
accurately computed at the Postofficc De-
partment, but they will probably he about
$4,000 900. The def iciencics for the
postal serv Ice have been largely met from
current expenditures during the year, so
that the two sides of the account includ-
ing the postal service, will sta nd at about
SiOo, 90 o 900 for receipts and $425, ,000,-
600 for expenditures.
A GREAT IMPROVEMENT.
These figures show a great improvement
over the preceding two years. The receipts
of the fiscal year 1894, exclusive OF the
postal service, were $293 ,664 800, and for
the fiscal year 1885. 5000, ,563 ,;ST6. The
expenditures for 1894 were S3G5.9S9,-
sos. and for 1885 were 1886, % 2S5.
The record of 1896. therefore, is one of
reduced expenditures, as we'll as increased
receipts.
The expenditures for pensions. which were
SI4l. .169. 1888 in 1894, and 81 Al ,3S6 ,9o2 in
1885. have been Sl39, ,434 430 in 1896.
An examination OF the character of the
,l,u d,,rtn hn
past three years leads TO the belief at the
Treasury that existing laws would afford
adequate revenue to carry on the ordinary
transactions of the government, IL busi-
ness were upon a more prosperous footing.
The receipts for the year Just closed in
ciuded Sl6O.04l, ,657 from customs, $145.-
9O6TlJ from internal revenue and $19,-
O74 g6S from Miscellaneous sources.
The internal revenue receipts have not
yet returned TO the figures of 1898, when
the total for the year was $3.50 ,O29, ,115.
The advance of the tax on alcohol from
80 cents TO S1.1o per gallon helped to
swell the receipts during the close Of the
fiscal year 1894, hut did not carry them
above 81 46 ,722,760.
This 81 me source Of income, the hasty with.
dra wal of spirits from bond in anticipation
of the new law, Contributed also to swell
the receipts for two months OF 1896, but 10
reduce them in the following months.
| The total collections of the year were
S143, ,51o,2lo, of which more than one
| third was collected during Jul Y and August.
| The year Just closed has shown marked
improvement over the later portions OF
| 1895, but the net result has been impaired
by the large receipts OF July and August
| in that year. 1t is believed at the Treas
ury that internal revenue receipts will con-
| tinue to increase, and viii reduce the de-
| ficit shown far the past year.
| CUSTOMS RECEIPTS CUT DOWN.
The customs receipts have been great.
ly affected by tariff legislation as well
! as by business depression. They were
S2O3 142,67O for the fiscal year 1893,
| S131 ,s07,75S for 1894, and I51 ,9O7;5ss
| for 1895. The first was a year of
reckless inportations, in spite OF the high
tariff which then prevailed, while 1894
showed reduced imports in certain classes
| OF goods ON account Of impending tariff
! changes.
The year 1895 was influenced by con-
siderable importations of goods on which
| duties had been reduced, but a great
| reduction on sugar and other articles
which had been made dutiable The in.
| crease of SIS 600 900 for 1896 is regarded
| as favorable indication. but does not
permit exact comparisons. Mr.. Ford. the
chief of tile bureau of statistics. believes
that sugar imports will be heavier during
the summer and autumn than last year and
| that revenue from other imuorted articles
| will increase.
1t will require an average gain OF about
$4,000, 900 per month to wipe out the de-
flcit which has been disclosed during 1886,
and there is little expectation that so large
a gain rs this will occur within the next
year, unless from the temporary influence
OF impe nding increases in the tariff The
deficit could probably be reduced under
normal conditions TO S1O.CC0, 600, or $12,
100000, and might he wiped out in an
other fiscal year, even without the marked