The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-01
DINGLEYS STATEMENT
ROSY PREDICTIONS FOR THE NEXT SIX
MONTHS.
A Comparative Summary of Receipts Under
the Tariff Bill and Snowy Claim
For December.

Washington, ID. c., Dec. S1,-Chair-
man Dingley, of the Ways and Means
Committee, furnishes the Associated
Press the following statement of the
revenue outlook;
The revenue for December shows an
increase Of more than. two and a half
million dollars over that OF November
and five and thHee-fourths millions over
that OF September, and even exceeds the
expenditures for December nearly one
and three-fourths millions. The official
figures for December {excluding the S-Sl.-
715, ,204 received during the month on ae-
count OF the 49acific railroad sale. and
the 100000 paid out to qualify the gov
ernment representative to bid Ia case
OF the sale of the Kansas Pacifcl make
the receipts $2T9S1 ,494, expenditures
$26, 195, 600 and surplus 81, ,736, ,494. The
receipts IN December, 1894, were nearly
Twenty-Five millions, in December, 1895.
they We're twenty4I1 millions and in
December, 1896, a little less.
This surplus for December, 1897,
however, arises from the fact that there
have been almost no interest payments
for the month, which makes the ex-
pendltures below the average. In Jan
uary the quarterly interest will be due,
which will swell the expenditures
considerably above the average, and
leave a deficiency Tor that month. NOT
withstanding the revenue will probably
rise to at least twenty millions and
possibly more.
''On the basis of the estimate OF the
Secretary OF the Treasury that the ,ex-
penditures for the present fiscal year
will be 1878, GOO, ,0O0-a little over $780,
100000 having been already expended
the average monthly expenditures for
the six months, beginning January 1gt.
will be about twen4y-nine millions; as
the expenditures for the first half Of
thhe fiscal year are considerably larger
nhap those for the last half, on account
Of the suspension OF many public works
in the winter season and the large July
payments of liabilities of the previous
fscatl year.
There is no doubt in Treasury circles
that he revenue under the new tariff
law hrQm January LIST to July will ex-
ceed IN fthe aggregate expenditures for
the same period, notwithstanding jan
uaFy and possibly April-the two months
for payment OF quarterly interest-will
show A baiance on the wrong side.
''The pevenue was only nineteen mil |
lions In August (seven millions, from
in consequence of the large
importati0ns between March 1st and
July oath in anticipation of the new
tariff. 1t rose to twenty-five millions in /
September (eight millions from customs) +
to twenty-tour millions in October, /
30 twenty four millions in Oc-
tober (nine and three fourths
millions from eustoms) to twenty
five millions (nine and three fourths
millions from customs) in the short month
of November and now rises to nearly
twenty eight millions in December (ele-i
ven and one half millions from customs.)
This increase will go ON as the goods
imported in anticipation of the new tar
if are consumed. Indeed, the increase
Of revense to which the present con-
of imported sugar and wool
If classes one and two entities the Treas
Iry has only begun to be felt as to sugar.
and as to wool will not be materially
'elt for several months The increased
'eceipts from internal revenue taxes are
lue to the provisions of the new tariff
lbol;shing the discount on beer stamps
md increasing the tax on cigarettes, and
o the bottling law passed by the last
Congress in connection with the ifn-
,rovement in business.
While the apparent deficiency fer the
irst half of the present fiscal year has :
seen about forty millions (the revenue
Concluded on fourtl page1