The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1902-08-07
SECRETARY SHAW
FACES BIG DEFICIT
Expenses 81, 55S,sl4 over
the Receipts In
Months

Washington, D. C., Aug. 7.-Gigan-
tic expenditures authorized by the re-
cent session of a Republican con
gress threatens to wipe out the avail
able cash balance Of the Urited
states treasury At present this
amounts to s2O514 ,s72 30.
Revenue receipts, according to to-
days statement fthe treasury, have
been S55,4S7 So les than the expendi-
lures during the four days of Augusr.
This makes the total deficit since
July 1. the beginning of the present
fiscal year, s7538,S14.
Constant and heavy demands are
being made on the treasury to meet
the appropriations Of congress and
the running expenses of the govern
ment, which IL is admitted are not
decreasing. with the ratio of expen-
ditures over receipts constantly grow
ing as the deficit shows it is but a
question of time when the cash bal
ance will be all gone.
Admit Expenditures Will Grow.
The days revenues exceeded expen-
ditures by $685. ,449. Treasury onic-
ials we're prompt to seize on this cir
cumstance and point to It as evidence
hat the tide had turned in the direc-
tion Of larger receipts and smaller
expenditures They do not believe
however, thai there viii be any relief
from the conditions that confronted
them at the end of July. They look
for deficits from month to month. in
creasing in amount as the year pro-
crosses and demands are made on the
, treasury for meeting the expendi-
lures authorized by congress.
Some treasury officials tacitly ad-
nit that there is grave danger Of wip-
ing out the available cash balance.
OF this sum s126,45s, 1866 81 is on de-
posit in various national banks The
balance of SIS ,6ss ,OO5 7s is in the
possession of the treasury of the
United States
Banks Affected by Policy.
Under no circumstances win out
standing deposits be increased The
banks will have to be content with
! the government moneys already in
their possession. The policy Of the
department win be to have these de-
poslts intact until the working bal
ance in the treasury falls below $780,
OOOO 900 Then the banks will be cal
led on to return 20 the treasury such
sums as the secretary of the treasury
may deem necessary. The time when
these calls will be made is probably
not far distant
Within a few months the war DIP
eartment will be demanding enort
nous sums under the rivers and har,
bors appropriation bill The super
vising architect will require many
millions to carry out the will of con
gress for the erection of public build
ings.
Cages Bond Policy Criticised.
Treasury officials do not like The
prospect and the more they contem-
plate it the more they are disposed
to criticise the policy of Mr.. Gage in
spending while he was secretary over
$40 900 900 for the redemption OF
bonds at the highest prices that were
ever paid for government securities.
The excess Of receipts over expandi-
lures last year amounted 10 s9l. .289,-
375. From July to November. when
he resigned his portfolio Secretary
Gage spent about s67 100000 in the
purchase of bonds at prices which
we're subsequently known to be high
er than a. was necessary to pay for
them He himself fixed the prices
and withheld the figures from the
public until the sellers of the bonds
caused them to he published
Shaw Stops Drain Due 70 Gage.
Before Secretary Shaw had been in
Office thirty days he caused announce