Arizona republican., 1898-06-12
NATIONAL FINANCES.

The latest monthly statement from
the treasury of the governments in
come and expenditures is mainly inter-
esting as giving the first definite in
formation as to the costs that the war
is entailing upon US. The receipts for
May were $3O,074,S1S, about $4,000, 600
less than those for April and over ST.
100000 less than the expenditures.
These latter reached the large sum Of
S47, SAG. 90e, an increase of over So $780,
900 as compared with the preceding
month and of over 100000 as COM
pared with the corresponding month
last year. The increase is, of course,
mainly. if not wholly, because of the
the army and navy, which together
amounted in May to $26,1S7,1 as COM
pared with $1S,7S0,747 in April ard
$6,752,531 in May, 1897 Allowing for
the smaller war expenses incurred by
other departments of the government
and for the natural disposition of the
administration to postpone as many
payments as possible till after the close
of the present fiscal year, we may
safely conclude from these figures that
the war has been costing us fully a
million dollars a day for the past
month.
The rate of expenditure will newt
ably be increased from now on, during
all the progress of the war. 1t is only
when an army is on the march and en-
gagged in active hostilities that it re-
quires the maximum of money. Thus
in April, when we were getting our
navy upon a war footing and purchas-
ing new vessels and supplies, the navy
expenditures were $12,557, 900 and the
army expenditures only $6,223,0O0; but
in May, when the navy was IN service
and the chief efforts of the government
were in the collection of troops and
the transportation of them toward the
front, the navy expenditures sank to
S, $685. 900 and the army expenditures
rose to $17,093, 900. This trebling of
the cost of the army by merely recruit
ing to larger numbers and encamping
in the home field is quite enough to
show that we must expect the expendi-
ture of very large sums indeed when
the troops are abroad and engaged in
actual hostilities. OF course we should
not stop to count the expense when We
have a great duty to perform and can
raise the money needed. But the rate
at which these war costs are already
up should suggest to us very |
forcibly the Importance of conducting |
war in these days with the utmost |
practicable speed.
For the eleven months Of the current !
fiscal year which have low passed the |
government total receipts were $751; |
J01, 7sS an increase of over $50 900 900 !
as compared viii the corresponding
eriod of the preceding fiscal year. AS |
the receipts from customs decreased
nearly 1880, DOC and the internal rev.
,nue increased not quite as much as
hat, the whole of the increase in the
total receipts must be sought in the |
account; and 1t came.
IS presumably nobody has forgotten.
rom the proceeds of the Pacific rail
Dad sales. The total expenditures for
he eleven months were 1895, 523.1 05, an
Increase of over $50, 100000 as coin-
jared with those of the corresponding
period of the preceding fiscal year. The
nominal deficit to the end of May Is
hus $24,521,357, as compared with $32,-
"a, 122 and $26, 9S1, 1875 in the cores
,onding periods of the two preceding
years. But, with the Pacific railroad
accounts taken out, the actual excess
Il tax receipts over expenditures is al
eady 49,, 1922, 1872; and this will be
argely increased, of course, during the
resent month.