Worcester morning daily spy., 1898-01-01
OUTLOOK,
Chairman Dingley of Ways and
Means Committee Makes
Statement.
Customs Receipts increasing Month by
Month as Goods Imported in Anticipa-
ton of New Tariff Are CONSUMED.

Washington, Dec. 81. =. Chairman
Dingley of the ways and means COM
mittee furnishes the Associated Press
the following statement Of the revenue
outlook:
1.-THE revenue for December shows an
increase of more than two stnd a half
million dollars over that of November,
and five and three-quarters millions over
that of September, and even exceeds the
expenditures for December nearly one
and thre.s-quarters millions. The Off
cial figures for December, excluding the
$31, Ills, 204 received during the month on
account Of the Pacific Railroad sale and
the 5000, 600 paid out to qualify the gov
eminent representative to bad in case
of the sale of the Kansas Pacific make
the receipts $27, 931, 494, expenditures $685.
$4,000 and surplus $1,7S6,49
THE receipts in December, 1894, were
nearly $22, 100000; in December, 1895,
they were $26, 100000, and in December,
1896, 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 expen-
ditures below tine average
TN january the quarterly interest
will be due, which will swell the eXpen-
and leave a deficiency for that month;
outstanding, the revenue will prob
ably rise to at least $29000,000, and pos
sibly more.
"On the basis OF the estimates of the
secretary of the treasury, that the eX-
peRdEtTes for the present fiscal year
will be 1919, 900, 000-a little over $780,
100000 having been already expended
the average monthly expenditures for
mir Ta1, I Will ],
about $29, 900, 900, as the expenditures
for the first half of the fiscal year are
considerably larger than 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 fpr the previous fiscal year.
There is no doubt in treasury circles
that the revenue under the new tariff
law from Jan. 1 to July /, will exceed
in the aggregate the expenditures for
the same period, Notwithstanding Jan
uary and possibly April-the two
months for payment of quarterly inter-
est-wiW show a balance on the wrong
side.
THE revenue was only $4,000, 600 in
August fseven millions from customs),
in consequence of the large importations
between March 1 and July "a, in antici-
patton of the new tariff 1t rose to $22,-
0G0,0o0 in September eight millions from
cpstonHs), to twenty-foJfr millions in Oc-
tober (1ine and three-fourth millions
from cIstorns), to twenty-five millions
(nine and three-fourths millions from
custon1sGs in the short month of Novem-
Der; and now rises to nearly $2S, 600 900
IN December eleven and one-half mill
lions from cusb5ns).
This increase will go on as the goods
imported in anticipation of the new
tariff are consumed Indeed the increase
OF revenue to which the present con-
sumption of imported sugar and wool,
of classes l and 2, entities the treasury,
has only begun to be felt as to sugar,
and as to wool will not be materially felt
for several months The increased re-
ceipts from internal revenue taxes are
due to- the provisions of the new tariff
abolishing the discount on beer stamps
and increasing the tax on cigarettes
and to the bottling law passed by the
last congress in connection with the i'm
provement in business.
While the apparent deficiency for the
first half of the fiscal year has been
about $44, 000,0 600 lthe revenue having
been nearly one hundred and fifty-eight
millions and the expenditures two hun
dred and two millbSns), yet it will be OBJ
served that this would have been al
most wiped out by the thirty-eight mil
lions of revenue received from March /
to July 1, from impsortations in excess of
the same period OF the previous year,
made in anticipation Of the new tariff,
and intended for consumption the pres
ent fiscal year. which revenue was nee
essarily placed to the benefit of the last
fiscal year, but in equity belongs to this
fiscal year. And this does not take into
account the absolute loss of revenue
arising from anticip2tory importations,
which the treasury has already expert
enced and will continue for several
months to experience in a less degree.