The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-12-31
DEFICIT FOR YEAR
WAS $22,OOO,OOO
Iron and Steel Imports Show
S2O,OO0,O00 Decrease
U. S. TREASURY REVIEW
Receipts for Calendar Year Were
$54o,Ooo,ooo and the .Expedltures
1862, ooo, ooo-Panama Pay
ment Was $50, 100000.

Washington. December 30.-The treasury
department today issued a review of
treasury operations for the calendar year
1904
The treasury receipts for the calendar
year 1904 were $40, 100000, and the ex-
penditures for the calendar year dnclud-
Ing the Panama payment) $500, 900, 600, a
deIicit for the year of $22000,00O As COM
pared with the previous calendar year.
the net receipts show a falling off of
$s0OO,00O. and the expenditures an increase
OF S6O,000,000. The decrease In customs re-
ceipts was S900O Civil and miscellaneous
expenditures increased s15.0O0000, was de-
partment 1000. 900. navy department. s2s,-
100000, pensions, 100000, and interest.
$1,000. 900.
The increase in interest is due to the
fact that a portion of the interest of
1903 was anticipated in 1902. The figures
do not include the postal receipts and "a
penditures, except that the postal deficit
is included in the civil and miscellaneous
expenditures.
Imports for the first eleven months
of 1904 were 1899, 100000, an increase over
the corresponding period in 1903 of $22,-
100000
Imports free of duty for the same pc
Rod increased $42, 000,0 0o, while dutiable
imports decreased $4,000, 900. In 1908, 4s1a
per cent of the imports were free of duty,
while in 1904, AZ per cent were free Of
duty. Practically the entire increase in
free imports was in three articles, coffee,
India rubber and raw silk. Although du-
table imports decreased S20.000,00O raw
ing $2S, 100000. All other dutiable imports
decreased nearly $5O,0o0,0O0.
OF this decrease 100000 was iron and
steel.
Other noteworthy features of the treas
ury transactions in 1904 were the payment,
out of accumulated surplus of s500OO,000.
for the right of way of the Panama ca
nall; the redemption of the outstanding
5 per cent bonds, due February /. 1904;
and the various calls on the national
bank repositories for a return of por-
ton of their public deposits. The redempj
ton of SIS during the calendar year was.
approximately $4,000, COO Public funds ON
deposit at the banks were reduced from
$16o, 900, 900 January l. 1904, to 9-.s,0sQo00 at
the close of the year. The calls on the
banks to mature early in 1905 will further
reduce these deposits and replenish cash
in the general fund of the treasury to the
extent of $23, 900.
The cash in the treasury, exclusive OF
the gold reserve, and gold and silver coin
held against outstanding certificates was
$500 600, 900 on January 1, 1904. AT the close
of the year 1t was $240, 000,o coo, decrease
of 100000 for the year. The Panama
payment accounts for $50 100000 of this de-
crease The redemption Of the SIS Of 1904
and national bank note assumptions ac-
count for $40 100000 more The balance Is
que to the deficit incurred in carrying on.
the ordinary operating expenses of the
government.
For the first six months of the current
fiscal year the deficit is approximately
100000. 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 already has
been met, and the expenditure for vari-
Gus kinds of public works will be less for
the next six months than for the six
months just closed. Nearly $40. 100000 was
disbursed in the last half of the last
fiscal year on account of the Louisiana
nurchase exposition.