Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-12-31
DEFICIT OF $22, 900, 900.
Statement Of the Treasury for the
Calendar Year.

Calendar Year.
The following statement has been made
at the treasury: Il
The treasury receipts for the calendar
year 1904 were $40 100000, and the ex-
penditures Excluding the Panama pay
ment), $562, 00,000-a deficit for the year
of So. 100000. AS compared with the
previous calendar year the receipts show
falling off of $S000,0O0 and the expendi-
lures an increase of $5O,OO0,OOO. The de-
crease In the receipts Is accounted for by
a decrease of 100000 in the customs
revenues. The increase in expenditures
is subdivided as follows:
Civil and miscellaneous expenditures. .s15 900 600
Expenditures of the War Department. 100000
Expenditures Of the Navy Department =. q 600 GOO
TENSIONS. 10 0o0 ~
Interest. Observation-Disclosures. 100000
The increase in interest is due to the
fact that portion of the interest of 1903
was anticipated in 1902. The figures do
not include the postal receipts and ex-
penditures, except that the postal deficit
is included in the civil and miscellaneous
expenditures.
The summary of foreign commerce,
published by the bureau of statistics
throws light on the cause of the decrease
in customs revenues. The figures of the
bureau cover the first eleven months of
the calendar year 1904:
Imports for the eleven months, 1904. $3.50 600 900
Imports for the same PERIOD 1903. 917 600 600
increase ...............-... $22,0O0,OoO
Imports free of duty for the same
period, increased $42,00O,0OO, while duti-
able imports decreased $20.0O0,0O0. In 1908
43 " per cent of the imports were free of
duty, while in 1904 Al per cent were free
of duty, and in November, 1904, 40 per
cent were free of duty. Practically the
entire increase in free imports was in
three articles-coffee, india rubber and
raw silk. Although dutiable imports de-
show increases aggregating $2S,O00,0O0.
All other dutiable imports decreased
nearly $50,000,000 OF this decrease $20,-
100000 was in iron and steel.
Other noteworthy features of the treas
ury transactions in 1904 were the pay
ment out of accumulated surplus. of $780,
100000 for the right of way of the Pan
anna canal, the redemption of the out
standing per cent bonds, due February 1,
1904, and the various calls on the ma
tional bank depositaries for the return of
portion Of their public deposits. The re-
demption Of IS during the neo calendar ale year
funds on deposit with the banks were re-
duced from $166.000,00O January l, 1904,
to S113.000,000 at the close of the year.
The calls on the banks, to mature early
in 1903, will further reduce those deposits
and replenish the cash in the general
fund Of the treasury to the extent of
about $23.OO0,0O0.
The cash in the treasury exclusive Of
the gold reserve and gold and silver coin
held against outstanding certificates was
$S20,O0O,O 600 on January l, 1904. At the
close of the year 1t was $4,000, O00-a
decrease of $S0,0O0,000 for the year. The
Panama payment accounts for $50, 900 900
of this decrease. The redemption of the
SIS Of 1904 and national bank note re-
demptions account for $10,O00,0O0 more.
The balance is due to the deficit incurred
in carrying on the ordinary operations of
the government.
For the first six months of the current
fiscal year the deficit is approximately
$4,000, 900. The balance of the year will
probably reduce rather than increase the
deficit. Receipts show tendency to in
crease. The greater part of the postal
deficiency for this fiscal year has already
been met, and the expenditure for various
kinds of public works will be less for the
next six months than for the six months
just closed. Nearly $10,0O000O was dis
bursed in the last half of the last fiscal
year on account of the Louisiana pur-
chase exposition-an expenditure which
will not be repeated during the present
wear.