The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1898-09-21
THE NATIONS FINANCES
CredItabIe Work OF the Administrn-
tiOn shown In the Treas
ury Department.

NOD Iuc icdSL TcuhThdUle Ol tue
achievements of the present national
government at Washington is found
In its skillful and accurate adjustment
OF the nations revenues 10 the ma
tion's expenses. The success with
which this has been done, both in
peace and war, stands out in striking
contrast with the failure of the dem
ocratic government of the preceding
years. An examination of the official
figures for the last year shows re-
markable accuracy in making the rev.
enues meet the disbursements Of the
treasury through the Dingley tariff
and allied sources, and an examination
of the figures for the month of August
shows The same thing with regard to
the war revenues.
For purposes of clearer comparison
II will be helpful to separate the pro-
visions tor peace times and those for
war expenses and to reduce each to
daily averages. AS the postal service
is almost exactly self-supporting. it
may be left out of the calculatio
Exclusive of this, the government ex-
penditures have for several years aver
aged little less than $l,0OO,O00 day,
so that revenue of that amount suf-
feed to meet peace expenses at the
start and provide slight surplus as
the population increased. The act of
1907 was intended to yield about $780,
100000 in customs, averaging $500, 1000
daily; $l57 100000 internal revenue.
averaging $430OOO daily; and about $22r
100000 miscellaneous receipts, aver
aging about 100000 daily-a total of
$1,01o0OO daily. When war broke out
1t was judged that at least $13S,00O.000
should be added to the yearly revenues,
or $37S,O0O daily, these being the fig
ures given by Chairman Dingley in his
estimate of what the war tax would
yield. This was expected to raise the
total internal revenue to $S08,0OO daily,
and the total income of the govern
ment to $1.3Ss,00O daily.
How closely the actual receipts have
approximated these calculations is
now shown in the official returns for
August, the second month after the
new act went into force. The follow
ing table explains itself:
Amounts expected. Actual.
Daily. 81 days. receipts.
Customs .....s $4,000 s1e,12OOOO $l6,249 ,sS9
Internal ...... SOS,00O 25,04S000 24'015 9Sa
Miscellaneous 10000 1,S6oOOO 1.5l7,0S
Totals ...... sl,SSS,OOO s4s.O2SOOO $1,7S2,7C6
The internal revenue and miscel-
laneous receipts are naturally small
er in August than in July or in other
months which include quarterly pay
ments. The internal revenue for July
was $26,171,oOO, making the average
$25 5c030oO monthly. The miscellaneous
receipts for July also bring the month
ly average in that department up to
S2.012, 900, so that in each branch the
calculations are surprisingly sus-
tained by the actual results. Customs
receipts naturally fell off little dur
ing the war, but August, the first
month Of peaceful commerce, shows
receipts slightly in excess of the cal
culations. Taking all branches to-
gether, the income and outgo have
maintained a steady and reassuring
balance alike in peace and war, thus
laying a solid foundation for the re-
turn of confidence and for firm be-
lief in the practical business ability OF
the republican party.
This large revenue in August, coupled
with the receipts from the popular
bonds sold by the treasury, caused the
receipts to exceed the expenditures
during the month. The cost of run
ming the government and the war in
: August was $56,26O,717, yet .$22,35s, OPS
was added to the cash in the treasury
A part of this was necessarily with
drawn from circulation by the buy
ers of bonds, but the large deposits in
the national banks fully offset this
and the $17,1O1, 100 decrease in circula-
tion during the month was not felt
for the good and sufficient reason that
the money still in the hands of the
people was $1,702, ,006,545, or $23,96 pei
capita. After this month there vii
be no more payments to make on the
war bonds, and the treasury reserve
which has been piling up unnecessary
lily high, will probably be pulled down
little by continued war expenses. Ii
the end the expenditures will come re,
markably close to balancing the re
ceipts. 1t is no mean triumph Of
craftsmanship to go through wal
without hitch or jar in the nations
nances.-Chicago Tribune.
Anti-Prosperity Bryanites.