Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1897-12-16
Dinqley on Revenue.

Dnring the debate on the pension bill in
the House of Representatives last Friday
Mr.. Sims, of Tennessee, expressed the
opinion that the Dingley law would not
supply sufficient revenue far the increas-
ing expenditures.
These remarks drew out Mr.. Dingley's
statements regarding the prospective reve-
nues and expenditures for the coming fs'
cal year. Preliminary to !the statement,
Mr.. Dingley gave new Interpretation of
the,estimated increase in pension expendi-
lures, contending that the maximum was
reached in 1898, when the pension pay
ments reached $159, 100000.
In 1894 they fell to Sal, 100000; 1895,
Sal ,OOO, 900; 1896, $l39, 100000, and in
1897, SI41 100000 If the expenditures
for pensions during the next fiscal year
should be S149, 900, 900, as hac been estl-
mated, the increase, Mr.. Dingley said,
would not be due to new legislation, but
to more rapid administration of the pres
ent laws. 1t would, therefore, involve no
additional expense in the end.
The question as to the revenues and ex-
penditures for the next fiscal year, con-
tinued Mr. Dingley, was practical one
which Congress had to face. The state
ment of the Secretary of the Treasury, he
said, had caused much misapprehension
owing to the fact that under a new pro-
vision of law he had been obliged to in
cIude in the estimates of expenditures
$73, 900, 900 for public works which neither
he nor the Secretary of War, nor any
other well-informed person believed would
be expended. Counting this the estimated
deficit, he said, will be $2l 900, 900.
He said.he violated no confidence when
he said that the Secretary of the Treasury
and the President were confident that the
receipts next year would exceed the ex-
penditures.
Mr.. Dingley said he took it for granted
that Congress would exercise reasonable
economy. 1t was not expected that the
expenditures for public works next year
would exceed S9O,OO0,OOO. Continuing,
Mr.. Dingiey pointed out the fact that the
actual cost of the administration of the
Government, the ordinary expenses per
capita, had remained about stationary for
many years. The cost was about $3.50
per capita.
At the present time the expenditures
were slightly in excess of SIS, but So per
capita went for pensions and about 80
cents for interest on the public debt. The
estimate of the Ways and Means commit
tee had been that the tariff law, with other
receipts would bring in an income of 18
dollars per capita, and Mr. Dingley de-
clared that when the expenditures were
brought within that limit there would be
no difficulty.
The estimated deficit for the present
year, not counting the money obtained
and to be obtained from the Pacific rail-
road, was $2S, 900, 900. The anticipatory
importations had, Mr.. Dingleyl argued,
placed in the Treasury before July l, $685.
100000.
Those importations Lad reduced the de-
felt last year from $56, 600, 900 to SIS, OOO,-
600, inasmuch as the importations We're
for consumption this year, Mr.. Dingley
commended that in equity that sum should
be properly charged to the receipts of the
current year. If they were SO charged, in
stead of deficit, there would be a surplus
this year of $40 100000.
FIGURES OUT a SURPLUS.
Mr.. Dingley figured out surplus of ex-
actly that amount ($lO, OO0, OOO for the COM
ing fiscal year. He described the steady
manner in which the revenues had been
increasing at the rate of one ortwo millions
a month. Although December was gener-
ally bad month for importations, he said,
if the increase for the first nine days of
this month were continued the receipts
this month would increase from S25,0oo,-
600 in November to $27, 900, 900 in Decem-
Der.
When he confidently predicted tEat the
effect of the anticipatory revenues would
all be overcome during this fiscal year,
and that after May or June, 1898, the
revenues would exceed the expenditures,