The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-07-02
SHAW EXPLAINS THE DEFICIT.
the RECEIPTS So.JOOODO IN En-
CESS or ESTIMATES.
Eut the Expenditures We're Largely In.
creased ard Exceeded the Estimates
by About ~ 900 ,OGO-thanses Here.
after In the Daily Treasury Statement

WASHINGTON, July 1.-Sccretary of the
Treasury Shaw made the following state
ment to-day:
The actual deficit for the year ju st closed
is in round numbers s24, 900 COO. or Sc 900 0OC
more than the official estimate submitted
In the last annual report of the Secretary
OF the Treasury. In the preparation OF
this estimate, however an error of 81 900 0OC
was made growing out Of the loan Of that
amount to the Louisiana Purchase EX-
position. BY some inadvertence the amou mt
OF this loan was deducted twice. The
estimated deficit but for this inadvertence,
would have been 81? 100000.
1T may be interesting TO compare the
several items of actual receipts and actual
expenditures with the corresponding items
in the estimate. Customs receipts are about
81 ,oo0,OO less than estimated while internal
revenue receipts are about 600 in excess
and miscellaneous receipts about 50 900 ,OCO
in excess of the estimate. Therefore re-
ceipts have been about 81, 10000 in excess
of the estimate,
In expenditures, the following items
are worthy Of note. The deficiency in
postal receipts is $4,000 00 in excess Of the
estimate; there has been expended on the
Isthmian Canal 81 900 900 more than esti-
mated. and on irrigation projects $685. eco
more than estimated; there has been paid
Under an appropriation for French spo!ia-
ton and other claims $4,000 more than
estimated the War Department has ex-
pended on rivers and harbors $500, 900 more
than estimated: there has been expended
for the Indian service s,,2Oo,0oO more than
estimated H75O,000 of which was an at
torneys' fee not anticipated); there has
been paid in pensions 81 10000 more than
estimated and on interest 100000 more
than estimated On the other hand, the
Navy Department has expended on con-
struction work about $4,000 coo less than
estimated. Several smaller items of eX-
penditure make up the difference.
"The favorable showing for June has
been in 10 degree the result of manpula-
ton. Claims have been audited with the
same rapidity. and paid as promptly as
ever Some appropriations are exhausted
however; as is always the case in the month
of June.
The Secretary also announced some
important changes that will hereafter
occur in the regular daily statement of the
condition Of the Treasury. There will
hereafter appear in the classification Of
expenditures a new item known as Public
Works. This will be quite large, probably
exceeding $5O,ooo,ooO per annum. 1t will
include expenditures for improvement of
rivers and harbors, irrigation, public build
ings and the Panama Canal.
The construction of military posts,
ersenals, navy yards, &c. will continue to
be included in the war and navy eSpendi-
lures. The expenditures Of the character
above indicated for the last year have been
kept from day to day, so that comparisons
in the daily statements between the ex-
penditures during the current and the
preceding fiscal year will appear.
Another less important change will occur
in civil and miscellaneous expenditures.
Heretofore salaries and contingent ex-
penses Of the War and Navy departments
have been carried under the head civil,
and miscellaneous expenses They will
hereafter he carried as expenses Of the
war and navy, respectively. This may
items somewhat inconvenient, but it will
be compensated by a more accurate state
ment of the actual expenses of the War and
Navy departments.