The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1905-01-25

Receipts and Payment OF $40. 100000
to Worlds Fair.
Washington. y. c. The Treasury
Department gave out a summary Of
the receipts and expenditures of the
Government during 1904. Tho state
ment follows:
1.-The Treasury receipts for the cal
endar year were $40, 900, 1000 and The
expenditures excluding Panama pay
ment) 1852, OOO, 900, a deficit for the
year of S22,OOO,OOO AS compared with
the previous calendar year. the re-
ceipts show. a falling off of $S,000,000
and the expenditures an increase of
$50, 000,0 600. The decrease in the re.
ceipts is accounted fQr by a decrease
Of 100000 in the customs revenues.
"The increase in expenditures is sub.
divided as follows: Civil and miscella.
neous Expenditures. $15,000,000; ex.
penditures of the War Department,
$9,000,O 900; expenditures Of the Navy
Department, 500, 900, 900: pensions, g..
900, 900; interest, 81, 600, 900.
"The increase in interest is due to
the fact that a portion Of the interest
of 1908 was anticipated in 1902. The
figures do not include the postal re.
ceipts and expenditures. except that
the postal deficit. is included in the civil
and miscellaneous expenditures.
t"The: summary of foreign commerce.
published by the Bureau Of Statistics.
throws light on the cause OF the de-
crease in customs revenues. The fg.
ures of the bureau cover the first
eleven months Of the calendar year
1904. r
Imports for. the eleven months, so,o ooo nm
lSU4 ............. .......... 9Soo,UuV,VuV
Imports for the same period, .,I.
l9O3 ....z........... ......... SIipuU,VW
Increase ........ So 0W,OW
Imports free Of duty for the same
period increased $40, 600, 900. while du.
table imports decreased $20,00O,0O0.
In 1903, 43114 per cent. of the imports
were free of duty, while in 1904. Al
per cent. were free of duty, and in No
yember, 1904, 40 per cent. were free
of duty. Practically the entire. in.
crease in free imports was in three. ar.
ticles: coffee, India rubber and raw
silk. Although dutiable imports de-
creased $4,000, 900. raw sugar .and
wool show increases a%ggregating $751;
OOO,0 600. All other dutiable imports de.
creased nearly S50,000,000. Of this
decrease $780, 900, 900 was in iron and
steel.
"Other noteworthy features Of the
Treasury transactions in 1904 We're the,
payment out Of accumulated surplus OF
$50, 900 for the right of way of the
Panama Canal; the redemption of the
outstanding 5 per cent bonds, due
February l. 1904. and the various calls
on the national bank repositories for
return of q portion Of their public de-
posts. The. redemption, Of fVes dur.
ing tine calendar year was approx.
mately $6,O00.O00. Public funds. on
deposit with the banks were reduced
from $166, 0OO, 1000 on January /, 1904,
to $113, 0O0, 900 at the close of the year.
The calls on the banks, to mature early
in 1905 will further reduce these de.
posts and replenish the cash in the
general fund Of the Treasury to the ex'
tent Of about 500, 5000.
1.-THE cash in the Treasury. exclusive
Of the gold reserve and gold coin held
against outstanding certificates, was
O,OG0,0 900 on January /. 1904. At
the close Of the year it was S240,000,-
900, q decrease Of $4,000, 900 for the
year. The Panama payment accounts
for iS50,O00, 000.of this decrease. The
redemption of the fves Of 1904 and ma.
tional bank note redemption account
for, $40, 600, 900 more. The balance is
die to the deficit incurred in carrying
On the ordinary operations of the Gov.
eminent.
"For the first six months Of the cur
rent fiscal year the deficit is approx
mately 500, 0OO, 1000. The balance of the
year will probably reduce rather than
increase the deficit. Receipts show 0
tendency to increase. The greater part
of the postal deficiency for this fiscal
year has already been met. and the ex'
penditure for various kinds Of public,
works will be less for the next six
months than for the six months just
closed. Nearly 100000 0 was dis:
bursed in the last half Of the last fiscal
wear on account of the Louisiana Pur.
chase Exposition - an expenditure
which will not be repeated during the
present year"