The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-22
LOWEST IN
SEVEN YEARS
Working Treasury Balance Is.
Only $4,000, 900 at
This Time. st;
The DEFICIT IS .I ENORMOUS / 4 j i J
Hi Twenty Days Government, ls11l'
Has Expended $1o,o 900
More Than Taken In.

llr
gGffssa e me rpssl Twenty
4 days OF the present fiscal year and
month have passed, yet the figures show 'a
TINT the government has expended 3d.
10000 moro than Il has taken in, and
that the working balance in the treasury
{ IS less than s27.oOo,o0o.
The fiscal year began on July 1st.
The deficit OF more than s4o,ooo.ooo with
which, tho last year closed was declared
4 by Republican leaders to be due wholly
to the acquisition OF the Panama Canal
at mn expense OF s5O.odO.oO and to a loan
or 100000 to the Louisiana Purchase
Exposition. For The twenty days Of the
new fiscal year the expenditures have
amounted 10 s417. $4,000 and tho receipts
4 have tecn only scs, 77e9. TO. There have 4,
been no expenditures except those con--
ncctcd with the actual running expense
incident 10 the operations OF tho gov
eminent and TO extrnvagant approprt-
II atiOns. t ~ s.
Greatly in Excess.
4 year the total receipts were $3l,24 65d6.
Is and tho total expenditures $3s 120. 900. SO
SffarEthis fiscal year. theref Tore. the OK
pcnditures exceed the same period Of
the last fiscal year by close to SD 900. 900.
It will be noticed that but small
/ part OF the large increase in he deficit
y il due to a falling off In recei pts for
the month, tho total income IN 70 date
this hscal year being Gs2s, 7:s. 49, as against;
K 81. 24S, 556 ono year a go.
II n With q steadily decreasing income and.
y rapidly increasing expenditures there IS
promise for thc4coming fiscal year OF n
serious deficit In Just the ordinary run
4 ming 8ex expenses. AZ 5s u
s. 81 t Is said that Secretary Shaw Is by
no means Satisfied with the situation.
and $is$ confronted With the prospect Of
N having to ca Il ON nat ional bank dcposi-'
B taries az " some h OF Sst the money PLACED
Il lad so mich money 1t did not X now
what to do with III The &C t,,al working
balance OF the 1'rcasury-th that is, the.
amount contained within the Treasury
proper. was to-day less than s21, 00o, 00D---8
4 the lowest sum In seven y ca rs. It has
for many years been ii tradition Of the
Il Treasury that tho actual working balance
should not fall below, 80 600. fo0. NJ. M
Called on National Banks.
Tint he might keep this balance some
rs here near so. 10000, Secretary Shaw
a fcw$ months 90 called upon national
\ Banks FOR government funds on n depostt
with them, and collected "a ftogct her more
than $50, oJo, 90. Now | hat the balance
* far. below Rha t IT was two months
Y ago. Secretary Shaw hesitatesGto make. a
call. because At vii reveal to the people
THE fact that the administration Is every
4 day running behind It's Income. and Is
steadily using up the surplus
There is on deposit With natl onal banks
70 about 81 ,0S4 y76 belong ing to the govern.
\ mont, while In the Treasury PROPER there
iii less than 81. 900, coo to meet tic Sdifcit3
that5is dailysriling lip, and that Is liable
to5scontinmc 4 to increase for six weeks
4 before the receipts and expenditures reach.
i anYthing Ikea daily balance.
Enormous Running Expenses.
& Secretary Shaw should call on tile
a bankers they would quickly comprehend
the situa ton when they ascertained that
tho Treasury was daily consuming its
surplus In meeting the ordinary expenses
Of the government. Instead of depending
upon its Income. For political reasons
there will be no call on the banks now,
and the a time honored tradition about
Keeping al least so, 600. 600 in the Treasury
Will be knocked silly by a Republican!
administration. vi sssj Z
ut Is probable the actual working ball
8ance ma y get as low as SIS. 900. 900 be-
tween n ow and September LIST. but Score
stary Shaw will, II possible, wait until
after election to make d call on the banks!
AT the same time lie cannot disguise
tho enormous running expenses and the!
q Big deficit that Isl piling up.