The Washington times., 1905-05-02
TREASURY DEFICIT
KNOTTY PROBLEM
Opinions Differ as to Proba-
bic Magnitude.
AT END OF FISCAL YEAR
optimists Figure Sao,ooo,ooo on July I.
Doubtful Ones Count Up
S5o,ooo;ooo.
At END OF FISCAL YEAR

treasury OIlSSiatS WHO nave
steadfastly held to their opinion that
the deficit at the close OF this fiscal
year would be nearly $40, 600, 000 are
beginning to waver a little. and many
now believe that the figures will be not
less than SIS COG. co.,
There are still several expert students
of the financial figures in the Treasury
department who beiisve the deficit will
not be more than $40, COG. Goo Among
these are Assistant Secretary Keep who
has made a life study Of Treasury re-
eeipts and expenditures. He maintains
that the surplus for months of May and
June will bring the present deficit down
to $50, o00, 600
May Go Much Higher.
However, there Is almost unanimity
OF opinion among outside financial ex-
perts that the deficit will go above $780,
100000. and some say with confidence
that the figures will be as high as $780,,
go coo.
These opinions are based upon the
present deficit in tie Treasury. Yes
terday afternoon at the close of the
Treasury hours the deficit amounted TO
exactly 81, or, S0e.45. One year ago there
was a surplus of s., 43s. IS in the
Treasury.
In order to reduce The deficit of s34.-
: uBUtSS TO the amount pf'SulcIeu py Mr..
Keep and those of his way Of thinking,
the next two months will have TO show
surplus OF 81, Q0o,000
VIII this be accomplished?
View of Mr.. Keep.
Mr.. Keep and his colleagues say yes,
but there is hardly a financial student
outside OF the Treasury Department
who is of this frame of mind. The
Assistant Secretary, who is thoroughly
posted on customs matters, says there
win be a large increase in the receipts
from this source during May and June,
and with large reduction in the ex-
penditures the surplus for the two
months will bring the deficit down to
$50. 900 o00
II Is generally admitted there will be
q surplus during theInonthS Of May
and June. but grave doubt exists in
many minds whether this surplus will
be much over S, oo9, o99 not more than
eco at the outside.
Last year May and June showed
surplus of about $4,000, 900. Allowing
that the surplus this year will be that
Inocn, the deficit would be 81, e00. coo on
the last day OF June.
Chances for a Surplus.
There are many students OF finance
who believe the surplus viii not be large
as last year. This opinion is based upon
TWO facts. The first is because the re-
ceipts this year are running slightly be-
nind those Of last year. and the second
Is because the expenditures are far in
excess Of what they were one year ago.
Receipts for the present fiscal year
up 10 yesterday amounted to s453 295 500
as compared with $451 612. lie last wear
showing difference Of 81 $50 750 The
expenditures to date have amounted to
So. S23. ioe. against Si49 la, 334. an excess
THIS year OF SIS, 25o. 372.
Expenditures Are Heavy.
Every branch of the Government is
showing increased expenditures over
last year. Civil and miscellaneous ex-
penditures are $3.50, 71S in excess of
what they were last year; the War De-
partsnent has cost the Government &c.
l55,ssS more than last year: the Navy
Department s15.3l4. 36S: Indians. 80 59f. es7.
and pensions about sso0,oO0.
The expenditures under these heads
VIII continue TO be greater in Nav and
June than they were in the same months
last year. 1t win be almost Impossible
ioi the treasury TO reduce them TO last
years figures.
ihefefoFe- with receipts little behind
ana expenditures much greater it is am
interesting question how the Urea sur
1oiks vail be able TO show n slIrDIlIs
OF - 80 Tor the next two months.
Is The opinion of many financis
STUDENTS that the surplus for NAV and
June VIII not amount To more than
s.. Cox. COO leaving a deficit AZ the end
or this fiscal year OF SIG COO coo