The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-01
LOng-COntinued Monthly Reports of
Deficits Giving way to More
Favorable Statements.
SMALL SURPLUS IN DECEMBER
GAIN IN both CUSTOMS AND INTER-
,NAL-REvENUE RECEIPTS.
Chairman DingIey, of the Ways and
Year Will Show Greater Increases.

WASHINGTON, Dec. S1.-The preliminary
figures of the government receipts and ex-
penditures issued to-day show that the total
receipts for the month of December
amounted to $59646,69S, and the expenditures
$27 O95, O00, which leaves a surplus for the
month of So, 551, $685. These figures, however,
include the receipts and payments on ac-
count of the Union Pacific transfer. indie
pendent of the Union Pacific account the
surplus this month is $17S6,494. For the six
months OF the present fiscal year, exclusive
of the Union Pacific payment, there is
deficit of $44, 1865 900, but including the Pa
cific payments there is a surplus of 500, 454.
The receipts from customs this month
amount to $11, 66O, 7SS, against $9930,3S5 for
December, 1896. The gain over last month is
81, $3.50, 763. The December receipts from in
ternal revenue amounted to 14,342,92S, as
compared with $13, 1O4 1928 for December, 1896.
The gain in the internal revenue receipts
over last month is $S12,279
Chairman Dingley, of the ways and means
committee, has furnished the following
statement of the revenue outlook:
THE revenue for December shows an in
crease of more than two and a half mil
lion dollars over that of November and five
and three-fourths millions over that of
September, and even exceeds the expendi-
lures for December nearly one and three
fourths millions. The official figures for
December excluding the So. Ills .2O4 received
during the month on account Of the Pacific
Railroad sale and the 5000 900 paid out to
qualify the governments representative to
bid in case of the sale of the Kansas Pa
cific property make the receipts $27 ,93l, 494,
expenditures, $26, 900 and surplus, $685.
494. The receipts in December, 1894, were
nearly $22 0o0, co., in December, 1895, they
were $26,OO0O00, and December, 1896, a little
less. This surplus for December, 1897, how
ever, arises from the fact that there have
been almost no interest payments for the
month, which makes the expenditures be-
low the average. In January the quarterly
interest will be due, which will swell the ex-
penditures considerably above the average,
and leave deficiency for that month. Not
withStanding, the revenue will probably rise
to at least $29, 100000 and possibly more.
ION the basis of the estimate of the secre-
tary of the treasury that the expenditures
for the present fiscal year Will be 1878 900 600
Ga little over $500, 1000 having been already
ef1psndfS led tb the Ppon5hy expend
half of the fiscal year are considerably
larger than those for the last half, on ac-
count of the suspension of many public
works in the winter season and the large
July payments of liabilities of the previous
fiscal year. There is no doubt in treasury
circles that the revenue under the new
tariff law, from Jan. to July 1, will exceed
in the aggregate the expenditures for the
same, period, Notwithstanding January and
of quarterly INTEREST," will show a balance
on the wrong side. 4iEhaeTeyenue was only
$4,000 900 in August (S7,0 900 from customs)
in consequence of the large importationS
between March and July a. in anticipation
of the new tariff. 1t rose to $22 900, 900 in
September ($SO00,000 from customS); to $24
100000 in October $50 $50, 900 from customs)
to $25. 900 ($9, $50 GOO from customs) in the
the short month of November This in
in anticipation of the new tariff are con-
sumed. Indeed, the increase of revenue to
which the present consumption of imported
sugar and wool of Glasses ! and entities
the treasury has only begun to be
felt as to sugar, and 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 abolishing the discount on beer
and to the bottling law passed by the last
Congress, In connection with the improve
ment in business.
while the apparent deficiency for the
first half of the present fiscal year has been
about $44 100000 (the revenue having been
nearly SIS 100000 and the expenditures 1902
100000, yet it will be observed that this
would have been almost wiped out by the
$3S, 100000 of revenue received from March l
to July l. from importations in excess of
the same period of the previous year. made
In anticipation of the new tariff and in
tended 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
pOrtatiOns which the treasury has already
experienced and will continue for several
months tn exnprieOca in a less deprpa "