Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-01
FOOD FOR THOUGHT
'toms Receipts for the
: Month of July =.
DECREASE IN AMOUNT
FROM THE SAME MONTH LAST
YEAR.
May Be Deficit at End of the Year II
Importers Check Their
Purchases.

There is some little concern among ON
Gals in the Treasury Department over the
showing made by customs receipts Tor tue
month of July The total receipts from
that source for the month were 81, 1876 oo''
a decrease of 81. pa, 5o7 from the same
month of last year, when the receipts were
s24 43O743 VIII the receipts this f1scal
year be less than the receipts last year
Are people becoming more cautious IKE
the bulls and bears Of Wall street, apou'
purchases abroad as we'll as at nome
These and many other similar questions
naturally come to the minds or treasury
officials and others who have maze II
business for years to study treasury ana
general financial conditions.
Food for Thought.
For a number of years the imports Of the
United States, under the great foodtide
of prosperity, have been mounting higher
and higher from a standpoint Of dollars
rapidly cutting down the great excess that
was SHOWN yearly in the exports OF TINS
country over Its imports. Are the imports
checking up and the importers feeling their
way to ascertain what the prospects are
for trade conditions? Such question IS
suggested by the difference in the income
from customs of the United states In the
months of July, 1903. and July. 1902.
There have recently been numerous pre-
dictions from students of the general sit
uation that the coming fiscal year Will not
show any increase in the customs receipts
of the government, with the possibility that
there may be a decrease. The figures tor
July do not necessarily indicate that this
prediction may prove true In the end as
monthly figures in the department are not
l1y1 no .fayc "a "a
may do. But the monthly figures point in
a direction that has been anticipated by
many. and consequently furnish food for
thought.
The receipts from internal revenue dur
ing July We're larger than for July of last
year. and this is regarded as an indication
that business in that direction continues to
be larger than last year. The receipts from
this source for the month just closed were
sd $50. 743 against s2l,Gls124. The in
crease is not large, but 1t represents about
the average increase from this source for
the last ten or twelve months.
Speculation as to the Deficit
The total receipts of the treasury for
July from all sources were $4S.6 ,575. and
the expenditures S56 100000, showing a
deficit for the month of S7.S7S, 424.
This deficit for July. however is not un-
usual for the first month of new fiscal
year, being due to the heavy warrants OF
expenditures that are begun at the first Of
the year. For July of last year the total
receipts were 49.D5.S1 and the expendl-
lures s56, Sl3 .587 not much difference in
the deficit that month from the month of
July of this year The expenditures for
each month are seen to be about the same.
There has been some apprehension that
the expenditures this fiscal year would be
considerably larger than for the last hscal
year. This, together with a possible de-
would
to considerable amount, possibly to $40
600 600 something like that. On the eve
of presidential election next year such
showing might not be as good as the
publcans would like to make. This far
away, however everything Is speculation.
Neither the receipts nor the expenditures
may be forecasted by any one.
Some OF the treasury officials claim that
extraordinary expenditures in the last fiscal
year made the amounts paid out by the
government unusually large. Such extra
ordinary expenses are not expected during
the coming year. The only thing Of that
kind to be expected would be $50, 900 coo for
the Panama canal, If the Colombian gov
eminent ever ratifles the treaty made with
this country. According to promises, about
s40,oOOOoO will go to the Panama Canal
Company and $1O, 900 to Colombia for
privileges.
Such an expenditure in this fiscal year.
however, would not be regarded as proper
charge against the regular account. This
a deficit for the year, instead Of surplus,
but the financial experts are not basing
their calculations for the fiscal year on
that expenditure in discussing whether the
surplus will be small or large. They elimi-
nate the s5O00O,OOO from the consideration
of the prospects, as a good many of them
do not believe the treasury will ever be
called upon to make the payment
Dingley and Wilson Bills.
The Dingley bill went into effect July "a
1897. after o'clock in the afternoon. For
customs purposes, therefore. 1t did not be-
come operative until the 18th. The Wilson
bill furnished the customs receipts up to
and including the 24th. The receipts of the
government for the first twenty-four days
of July. 1897, during which the Wilson bill
in operation We're Sl4 1881 SS. For the
same twenty-fCur days Of the month Of
July of this year the customs receipts were
SIS, tio3 2:'l an increase of about 81, 900 900
between the corresponding years and the
two laws. Just what the Wilson bill would
have accomplished had it continued in force
can tell.
Importers all over the country knowing
that a new tariff law would go into effect
and that the rates would be higher i'm
ported large quantities of goods into the
country under the Wilson bill In the last
four or five months of It's operation This
is shown by the fact that the receipts from
lIe w lISOn Dill III january, 1890, We're only
S11276,SI4, and in February at about the
same rate. With March and the Inaugural
ton Of Mckinley, together with the call
ing of an extra session to enact new tariff
legislation. the importers began to hurry
shipments to this country from abroad
In the month of March the receipts under
the Wilson bill were So. S23, $50 only a few
hundred thousand less than in July of the
present year. In April the receipts ran up
to $24. 454 ,30l. over million more than for
July of this year. Democrats have always
pointed to these figures proof that under
the prosperous conditions that began in
1897 and continued until now the Wilson
bill would have turned in sufficient revenue
to meet all expenditures In May, 1897, the
receipts were $16,SS5.O11 and in June Sl9-
2s5 O55.
The internal revenue receipts In the
month of July, 1897. were $40 767, S31. some
thing over $2OOO.OOO less than in July of
this year The difference has been
brought about by the difference in business
conditions in the respective years.
President Wallpapers Statement.
Mr. D. P. WALLPAPER. president Of the