The record-union., 1898-01-01
December Shows a Large Increase
Over September.
Exceeds Expenditures for Month Nearly One
and Three-Fourths Millions.
The Increase of Revenues From
Sugar Has Only Begun to be
Felt, and It May be Several
Months Before It Will be Mo-
ticeable as Regards Woods.

WASHINGTON, Dec. 31.-Chairman
Dingley of the Ways and Means Com
mittee 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
millions over that Of September, and
even exceeds the expenditures for De-
cember nearly one and three-fourths
millions. The official figures for Decem-
Der excluding the $31, rs, $40 received
during the month on account of the
railroad sale and 100000 paid out to
qualify the Government representative
to bid in case of the sale of the Kan
sas Pacific make the receipts $21, OIL
494, expenditures S26, 49,, 900 and sur
plus 81, 1876, 494 The receipts in De-
cember, 1894, were nearly so, 100000
in December, 1895, they We're $50, 0,O0O,-
600, ard in December, 1896, little
less.
The surplus for December 1897,
arises from the fact that there have
been almost no interest payments for
the month, which make the expendi-
lures below the average. In January
the quarterly interest will be due, which
will swell the expenditures consider
ably above the average, and leave
deficiency for that month, notwith-
standing the revenue will probably rise
to at least twenty-nine millions, and
possibly more.
On the basis of this estimate Of the
Secretary of the Treasury, that the ex-
penditures for the present fiscal year
will be 1913, ,OOO,O 900, little over $780,
000000 having been already expended,
the average monthly expenditures for
the six months beginning January 1st
will be about 500 OOO, 900, as the ex-
penditures 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 of the pre-
vious fiscal year.
There is no doubt in treasury circles
that the revenue under the new tariff
law from January 1st to July 1st will
exceed in the aggregate the expendi-
lures Of the same period. notwithstand-
ing January, and, possibly, February,
the two months for payment of quarter
ly interest, will show balance on the
wrong side.
The revenue was only $4,000, 900 in
August (S17 100000 from customs, in
consequence of the large importations
between March 1st and July oath in
anticipation of the new tariff. 1t rose
to S2000O,0O0 in September (SS,000,0O0
from customs) to S24 100000 in Octo
Der $50, $50, 600 from customs), to S25,
100000 $50, 10000 from customs) in
the short month of November, and now
rises to nearly SIS, 100000 in December
($11. 100000 from customs).
This increase will go on as the goods
imported in anticipation of the new
tariff are consumed. Indeed, the in
crease of revenue to which the present
consumption Of imported sugar and
wool of classes / and = entities the
treasury, has only begun to be felt as
to sugar, and as to wool will not be ma
teriaily felt for several months.
The increase in the receipts from the
internal revenue taxes are due to the
provisions Of the new tariff abolishing
the discount on beer stamps and in
creasing 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 present fiscal year has
been about S44 000, 900 Ghe revenue
having been nearly $14S, 900 COO and
the expenditures $202, ,0OO,OOO), yet it
will be observed that this would have
been almost wiped out by the S3S. .0OO.-
Oo0 of revenue received from March
1st to July 1st from importations in
excess of the same period of the pre-
vious year, made in anticipation of the
tariff and intended for consumption the
present fiscal year, which revenue was
necessarily placed to the credit 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 anticipatory i'm
portarion which the treasury has al
ready experienced and will take several
months to experience in a less degree.