Arizona republican., 1900-07-08
THE YEARS SURPLUS
The First Favorable Balance
 Since 1893
It Exceeded Secretary Cages Esti- mate in His Report to Congress by More Than S40,000,000-A Gratifying Showing.

treasury officials was that the surplus for the fiscal year would be over ESQ., 900. 900. This was 100000 900 more than was estimated by Secretary Gage in his last message to congress. The in crease over the estimate is due wholly to the unexpectedly large receipts from internal revenue and customs.
 There has been no such surplus since the fiscal year 1890. The surplus that year was SS5. .O40. .271. It fell off greatly the following year and for two years after that. In 1894 began the deficits that have followed steadily. This is the first year that has shown surplus since 1893. The democrats were fast cutting the deficit that stayed with them for years when the republicans took charge in March, 1897. and the fiscal year 1897 showed deficit of only SIS ,OOO, 900, notwithstanding the Dingley law had not then gone into effect. It Is almost certain that the fiscal year 1898 would have shown surplus. The de- felt for the year was sSS,047, ,247, but during the last three months of that fs- cal year the war with Spain was on and extraordinary expenditures were made for the army and navy. These enormous expenditures aggregated more than s5OOOO,O 900, much greater than the deficit that year.
 The war expenditures were something enormous in the early part of the fiscal year 1899 and this caused the deficit of SS9, III, ,559 that year. That was the year of the s2OO, ,OOO, 900 bond issue, but no part of the receipts from that source entered into the regular daily receipts and expenditures of the treasury. The deficit was independent of that sale. If the money from this source had been added to the ordinary receipts there would have been a big surplus.
 The surplus for each month continues to grow. The approximate surplus for June, the last month of the fiscal year, is $11, ,000,0 ,000 With one more day to hear from it stands $15,279,231. This is the largest surplus for any month of the year and for many years back. The total receipts this month have been $4S. .S64, ,231, with another day to come. The expenditures for the month have aggregated S33. 1885, 900. From customs this month the receipts will be about s2O,OOO.0OO. and from internal revenue something like $2S,000,000 The miscel- laneous receipts are about as usual
 The expenditures for the year have been S4S7. .S03, ,49S. The receipts so far are $566, AZ, ,347. The war department has spent $134, ,653, 1S0 and the navy 56,0S9,
 149. For the fiscal year 1897, before the outbreak of war, the war department spent the comparatively small sum of $4S, ,950. .267 of the peoples money and the navy department $34, ,561 ,546 The real expenses of the Spanish war direct
 were nearly wound up when the pres
 ent fiscal year began, and the heavy
 expenses are due to the large army maintained in the Philippines and to
 troops in Cuba and Porto Rico.
 The receipts from the different sour
 ces to date are: Customs. $233, ,491, ,13S;
 internal revenue, $294, ,212. .63S: mfscel-
 laneous, S3S, ,713, ,570. For the fiscal year
 1897, with no war revenue act in oper-
 ation, the receipts from internal reve- nue were $146 6SS, ,574. In 1898, when the
 bill had been in operation but a few days before the end of the fiscal year
 the internal revenue had grown to S17O, 300, 641. This is thought to have been in the neighborhood of high-water mark in the receipts from that source under normal conditions. Taking even S175. .000, 900 as a basis, under ordinary and prosperous conditions, it will be seen that the extra income from the war revenue act is likely to be something like $120, ,000, 900 for the year. The treas
 ury has no way of finding exactly the l receipts from internal revenue, but
 makes close estimates.
 There will be an available cash bal ance in the treasury at the close of the | fiscal year of several millions over l $15O, 1000, GOO. This is independent of gold reserve, which by law is fixed at $150,- 1 900, 900. A great part of this cash bal ance is in gold and is used in the daily
 business of the treasury. It is likely | that when the official figures are an | nounced next week it will be found ! that the treasury has in it's vaults over l $40, 900 of gold coin and gold bull lion, more gold than is gathered under
 any single control anywhere else in the ! world said Treasuerer Roberts this morning. MT. Roberts added that gold , is coming in at the rate of $iOO,O 900 a year and that it is being used more now i than ever before.
 l Under the old form of treasury state
 ment, before congress set aside $150,-
 100000 as a gold reserve, the available | cash balance of the treasury Monday
 next would be placed at about s304, ,OG0,
 900. There has been no such surplus or prosperous condition of the treasury since September, 1888. except when the 1 $2OO 900, 900 bond sale swelled the bal ance in August and September, 1898. l With the exception of months in 1887 and 1888 the treasury had had no such cash balance since 1879.
 The treasury is stronger than it has
 been in a great many years" said Treasurer Roberts, and reflects the l great prosperity of the country