The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-10-28
CUBA May FACE A DEFICIT.
REvENCES SERIOUSLY CUT ny
THE REVOLUTION.
Major Ladd. Treasury Supervisor. Hopeu
20 Pull Through by Cancetins special
Appropriations Net Urgently Needed
-~RestOratiOn 0f Credit WIN Helm.
Special Cable DsspatcA 10 TWm Sur.


Spectral Cable Despatch 10 TINE SUN.
HAVANA. Oct. 27.-Maior Eugene II. Ladd,
Supervisor Of the Treasury. has made a
report relative TO the ability Of the Treasury
10 meet the current and extraordinary ex-
penscs Of the republic for the present fiscal
year md at the same time carry on the
numerous projects imposed on the regular
Vudget by special appropriation acts up
W JAY I, 1907.
The report shows, among other things,
that the cost OF the war is estimated at Is ,3OO,-
600, but Of this amount t3,o7p,Sn was paid
prior to October I. The cost Of the military
occupation is estimated az $500 900 and
claims arising out Of the revolution at o. 900.
900. Other expenses and the amount re-
quired to meet the budget bring the total
up to S31 ,o48, 200.
To OFFSET there is a balance in the Treasury
OF $40, $40, 100 and the estimated revenue
for the nine months ia SIC, OO0. 900. making
the total assets $50, s29,lse and leaving a
deficit of s4,2l7.l 1874. The report says:
I'm estimating the revenues for nine
months at Sl8, 900, 900 l am governed by
the superstition hat conditions resulting
from the revolution will necessarily curtail
credit and decrease importations. The
damage to the crops by the recent hurricane
will also operate to the same end and it is
not believed the revenues will much exceed
81, 700, 900 per month, as far as I am able to
Judge by the record TO October 20, and while
this estimate is liable to error il is based
upon as thorough In investigation as can
be made. | believe all the other estimates
10 be conservative. They are based on the
best information obtainable at present.
The above estimates show that the
deficit for the year wal probably wipe out
the entire surplus of 81, $50. $50 which was on
hand July 1 and will, perhaps. leave the
republic in debt. II this is to be avoided it
would seem to be necessary to economic
and curtail expenditures under special
appropriations and possibly also the budget.
The special outstanding acts appropri-
ate about 5000, 900, and there are many
contemplated projects which have not
been commenced. The special railroad
subsidy act carries a total of 5000 900.
only $500 900 Of which is included in the
90, 900 600 referred to, but this is only to be
used as the mileage ia built and little or
none OF il will probably be required this
year. OF the 50, 900, 900 about $4,000, 900
was appropriated by special acts since
June 20. 1905. None Of these special acts
refers to any particular year and need only
be met when funds are available.
The report advises a revision OF these
acts in order to decide which one are neoes-
sary. Major Ladd says he is not qualified
to make recommendations in each indi-
vidual case, but believes the best plan would
be to cancel promptly many special acts
where the work provided for has not yet
started. and thus the funds in h treasury
would be left subject to action by the proper
authority. The interest on SIS, OO0, 900 bonds
can be met by special funds which do not
figure in the estimated revenues, but the in
terest on the other bonded indebtedness
will be met by the budget which has already
been considered"
Major Ladd in conclusion says that the
restoration of confidence may increase the
revenues beyond the estimates. and he be-
lieves he conditions can be met without
serious harm to the industries Of III country
or the credit Of the republic
The shrinkage in the customs evenuea
while the revolution wa on amounted %
10000 per month.