Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-07-03
UNCLE SANS BIG SURPLUS.
T1reasury balance Sheet Puts Figur
Mt $50 600 OOO

= gsf7
Washington. July 3.-Among the
many indications of the prosperity OF
the country is the satisfactory balance
sheet which Secretary Gage presents at
the close Of the fiscal year. 1t will
Snow surplus of more than $50. 900, 900,
Which is double the amount estimated
by the secretary in his las; message TO
congress. The expenditures for the
year We're s7,s02,493. while the re-.
ceipts were s55s,417 .347. OF course the
expenditures of the war department
We're heavier than any other branch of
the government and last year s134. 653.-
$50 was spent by the army, while the
navy expended but s5s,Os974a. For tn Z
previous year the war department. ex :
pended only s4S,950,267 and the navy
S34,561, 546.
The real expenses of the Spanish war
ended at the beginning of the fiscal
year which ended June 80. but the con-
tlnued heavy expenses Of the army are
Que TO the maintenance of troops in the
philippines. Cuba and Porto Rico.
Ilshere will be a gradual decrease in
ti'ese expenses until they reach the
normal figure.
The receipts We're: Derived from Gus
toms. see33s. 491 ,l3s; internal revenne
sa4.2l2,sas miscellaneous, s3s.71357o.
during the previous year, before the
enactment of the war revenue law the
receipts from internal revenue were
but s146, 6Gs.574.
~ IS gratifying to the administrator
that the books of the treasury show a
surplus for the first time in seven
years. In 1890. during President HART
sons administration. there was a sur
plus of ss5,oio.270. From that time the
surplus gradually decreashed, until
during the first year of the Cleveland
administration. in 1894, 1t entirely dis
appeared. A deficit was created. and
the famous bond sale, about which
there was so much scandal, took place
The deficit continued until 1897. when
President Mckinley took the oath q
office
After the election OF Mckinley the
| nanicky condition of the country
ceased. confidence was restored and the
condition of the treasury immediateI,
4 improved. In 1S97the deficit amounted
/ to only s1S,0U0.000, notwithstanding the
Dingley law had not yet then gone into
effect.
1. In 1898 1t was quite certain a surplus
would be Shown, but the war with
Spain broke out. and. owing to the ex-
4 traordnary expenditures, there was q
deficit Of s3s,o47.2i7 During this yeal
4 the expenditures for conducting the
war amounted to s5o00O,oO which was
! greater than the amount Of the deficit
During 1899 the war expenses continued
at the rate of more than s1,00O.0OO &
i day, and another deficit Of $S9,111,55.
was shown.
Il A bond sale Of $2OO.0OO,OOO was made
and at the same time congress author.
lied the levying Of war revenue
which Immediately put the treasury or
its feet. and it's condition has improved
from that day to this. The receipt.
from the bond sale were not made &
part OF the regular daily receipts ant
Expenditures. and the deficit was indie.
pendent Of that Gale. H. however. the
money derived from the bond sale hat
been added to the ordinary receipts
there would have been a big surplus.
Each month the surplus has contin'
ued to grow. until the month which ex
pred Saturday. shows the Creates
monthly surplus in years, about ST 900,
900. The total receipts for June will ag
|gregate about $4,000, 900, while the ex
Ipenditures were 333. $500 The Gus
toms receipts for the month are s22, 900.
900. while the internal revenue wa
about $2S, 900, 900.
Al the Close q the fiscal year Their