The Somerset reporter., 1898-01-06
Mr.. DiDgley's Statement.

n
kmeans committee furnished the Associa-
i ted Press the following statement of the
revenue outlook:
1.-THE revenue for December shows TN
increase of more than $1,000, 900 over
that Of November, and $5,750,000 over
that of September, and even exceeds the
expenditures for December nearly ST.
1904
1.-THE official figures for December lex
GLIDING the $3l ,715, 2O4 received during
the month on account of the Pacific rail-
road sale, and the 5000, 900 paid out to
qualify the government representative
70 bid 10 case Of the sale of the Kansas
Pacific) make the revenue $37, 1921 ,494 :;
expenditures $26, 1876 900, and surplus
81 1886. 494 The receipts in December
1894, were 10000, 900, and in December
1896, little less.
"This surplus for December 1897, how
ever, arises from the fact that there have
been almost no interest payments for
the month, making January the time
when quarterly interest will be due, which
will swell the expenditures considerably
above the average, and leave deficiency
for that month, Notwithstanding the
revenue will probably rise to at least
800 900, 900 and possibly more.
"On the basis of the estimates of the
secretary of the treasury, that the ex-
penditures for the present fiscal year
III be $373, 900, 000-a little over $780,
600, 900 having been already expended
the average monthly expenditures for
the six months beginning Jan. l, will be
about 500, 600, 600; as the expenditures
for the first half Of the fiscal year are
considerably larger than those for the
10 or huff Of tho poin m
of many public works in the winter sea-
son and the large July payments of
liabilities of the previous fiscal year.
"There is no doubt in treasuary circles
that the revenue under the new tariff
law from Jan. to July l will exceed in
the aggregate the expenditures for the
same period, notwithstanding January
and possibly April the two months for
payment of quarterly interest, will show
balance on the wrong side
'sThe revenue was only $4,000, 600 In
august, ($7 900, 900 from customs) in con-
sequence of the large importations be-
tween March and July "a, In anticipa-
ton of the new tariff. 1t rose to $22,-
600, 900 in September, $8,000,000 from
customs). to S24, 100000 in October,
($9, 750,0 900 from customs), to $25, 900, 900
($9,750, 900 from customs), in the short
month of November, and now rises to
nearly $2S, 100000 In December, ($l1,-
500. 900 from customs.)
s"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 consump-
tiol Of imported sugar and wool of class
es one aud two entities the treasury has
only begun to be felt, as to sugar, aud
as to wool will not be materially felt for
several months.
"The increased receipts from internal
revenue taxes are due to- the provisions
of the new tariff abolishinng the discount
on cigarettes and to the bottling law
passed by the last COngress-in connec-
ton with the improvement In business.
while the apparent deficiency for III ],
first half of the present fiscal year has
been about AZ, DOC. 600 (the revenue hav-
ing been nearly los, 900, 900 and the ex-
penditures 202, 10000 yet it will be
observed that this would have been al
most wiped out by the IS, 100000 of the
revenue received from March to July
from importations In excess of the same
period Of the previous year, made In an
ticipation of the new tariff and intended
for consumption the present fiscal year,
which revenue was necessarily placed TO
the credit of the last fiscal year.
And this does not take into account
the absolute loss of revenue arising from
anticipatory importations which the
treasury has already experienced and
will continue for several months to ex-
perience In a less degree"