Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-01-02
TREASURY CONDITIONS.
Analysis Made Of Recent Statement at
the. Department.

Analysts at The treasury today OF the
operations of the department for the half
Of the fiscal year which closed Thursday
shows that the reported surplus OF $S.443,-
667 understat 9sl rather than overstates, the
actual condition. of federal. revenues. This
Is due to theT fact that the balance in the
hands of disbursing officers at the end Of
the year was as5. 100000 larger than on
June 80. The-agreat improvement which
December made over earlier months Of the
fiscal year was ia the reduction OF this bal
run up to $680OO.0OO. the largest amount on
record. 1t II the custom to treat money
furnished tDl the sdisbursing officers as ac-
tual expenditures. and were their margin
maintained at an even level this would be
a fair test. They have been calling for
large amounts during this fiscal year, and
were maintaining unusual balances until
Secretary Shaw saw the Misrepresentation
which was liable to result. and 80 with De-
cember there has been much closer scru-
tiny, with the result that the balances APP
proximate those of the opening OF the fiscal
year to the extent already noted.
December is also month OF no interest,"
payments and of small pension payments
The agencies which make their quarterly
distribution In December happen to De
smaller than the average. Uuless there Is
some radical change In the industrial situ-
alton 1t is assumed that Secretary Shaw
estimate of surplus Of $14,OOOCOo for the
current fiscal year will be sustained; ~
is also pointed out that the deficit OF
$23.OOO.OOO which he predicts for the next
fiscal year, in case Congress appropriates
up to the estimates submitted to IT, may
be averted by judicious reduction OF
these estimates such as the congressional
Il -ders seem disposed to make. -'anama ex-
penditures are, OF course not Included
They would be squarely deducted from the
surplus.
During the calendar year just closed the
trea surv sent &35 1S4 600 to move the crops
against 22.546,O0O the preceding year. OF
this years amount SIS 900 went to New
Orleans, against SIS, &c., 900 in the year be-
fore. This very exceptional incres e Is
doubtless due to the high price Of cotton
and to It's early SALE There was also an
increase Of slightly more than $2,OOOOOo
over the preceding year In the payments az
New York. against gold deposits IN san
Francisco.
The monthly statement of the govern
ment receipts and expenditures SHOWS
that for the month of December l9O3, the
total receipts were $40, TAI, 592 and the ex-
penditures $s2.255.sO4. leaving a surplus
for the month Of $10491.7S The re-
ceipts for the six months OF the present
fiscal year amounted to $277,S3l.4tZ,
decrease of nearly $11,000,0O0 from the
receipts for the corresponding period last
year. ~
The receipts from the several sources
of revenue during December, 1903 are
given as follows:
Customs. $19.s15,ss0; decrease. $780,
900. Internal revenue, $20.227,135; de-
crease, $25O,OOO. Miscellaneous, $2,7O4.-
556: increase, 100000. T., total expendi-
lures during December decreased about
81 ,3O0, 900 as compared with December,
1902. The Expenditures on account OF the
War Department decreased during the
month $3,s0O,ee0 ad increased about ST.
5000. The expenditures for the last six
months aggregated 1888, All 500 as
against $2s3 500 971 for the correspond
ing period In 1902.