The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-01-07

>1'a nc v q a VI
\ December Receipts Greater than for No
4 vember or September and Exceed Expen-
ditur~s-Hs Expects Receipts for the Sec,
ond Half Of the Fiscal Year to be Larger
than Di.bursements
Washington, December 31-Chairman
Dingley, of the ways and means COM
mittee, furnished the Associated Press
the following statement of the revenue
outlook:
THE revenue for December shows an
increase of more than 81, 800, 600 over
tina of November and So $50, 900 over
that of September and even exceeds
the expenditures for December nearly
81, $50, 900. The official figures for De-
cember Excluding the $31, 715,204 re-
cefved during them onth on account Of
the Pacific railroad sale and the $780,
900 paid out to qualify the government
| representatives to bid in case of the
sale of the Kansas Pacific) make the
| receipts s27, 931, 494, expenditures $685.
1875, 600 and surplus 81, 1876, 494. The re-
| ceipts in December 1894 were nearly
500, 900, 900; in December. 1895, they were
( $26, 600, 600 and in December, 1896, a lit
tie Tess. This surplus for December,
1897, however, arises from the fact that
there have been almost no interest pay
ments for the month, which makes the
expenditures below the average. In
January the quarterly interest will be
| due, which viii swell the expenditures
considerably above the average, and
leave a deficiency for that month, not
4 Wi + h CT ~ aJirYcr tho 1-ayvnr1Jp will n1-nno hi W
rise to ait least $29, 900, 900 and possibly
more.
"On the basis of he estimate of the
secretary Of the treasury that the ex-
p~enditures for the present fiscal year
will be 1878, coo, 900 Ga little over $780,
600, 900 having been already expended)
the average monthly expenditures for
the six months beginning January list
will be about $29, 900, 900, as the eXpend-
itures for the first half of the fiscal
year are considerably larger than those
for the last half, on account of the Sus-
pension of many public works in the
winter season and the large July pay
ments of liabilities of the previous fis-
cal year.
There is no doubt in treasury cir
Giles that the revenue under the new
tariff law from JANUARY 1st to July LIST
will exceed in the aggregate eXpendi-
lures LOT NE SdilIG pSIIOu, uOtN III
standing January and possibly April,
the two months for payment of quar-
terly interest, will show a balance
on the wrong side.
The revenue was only $19, 600, 900 in
August (S7,O 900, 600 from customs) in
consequence of the large importations
between March 5st and July Gath ir
) anticipation OF the new tariff. 1t rose tC
$50, 900, 900 in September CS,000, 900 from
customs); to s24,0 900. 900 in October;
$50, $50, 900 from customs); to $25, 600, 00(
$50, $50, 900 from customs) in the shOrt
month of November: and now rises tt
!, nearly $3.50 900, 900 in December S11, 500,
900 from custOms.)
This increase will go on as the goods
5 imported in anticipation of the new
tariff are consumed. Indeed the in.
crease of revenue to which the present
consumption of imported sugar anC
wool of classes one and two entities
. the treasury has only begun to be fell
as to and as to wool will not
he materially felt for several months
The increased receipts from internal
revenue taxes are due to the provis-
ions of the new tariff abolishing the
discount on beer stamps and increasing
the tax on cigarettes, and to the bot
thing law passed by the last congress
in connection with the improvement in
business.
While the apparent deficiency for
the first half of the present fiscal year
has been $40, 600, 900 (tle revenue hav-
ing been nearly s15s. 900, 900 and the ex-
penditures 500, 900, 000 yet it will be OBJ
served that this would nave been al
most wiped out by the S3S, 900, 900 of
revenue received from March 1st to
July LIST from importations in excess
of the same period of h previous
year. made in anticipation of the new
tariff and intended for consumption
this fiscal year, which revenue was
necessarily placed to THE credit of the
last fiscal year. but i'm equity be1ongs to
this fiscal year. And this does not
take into account the absolute loss OF
revenue arising from anticipated i'm
portatiOns which the treasury has al
ready experienced and will continue
for several months to experience in a
less degree"