Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-07-11
NO TREASURY DEFICIT THIS YEAR.

The closing of the fiscal year on June
80 left the country an excellent surplus
instead of the deficit of a year ago. Ths
year started off badly, for on August
S1S,500, 1000 Between September and
April this deficit was gradually wiped
out, and in the last quarter receipts
have rapidly outrun expenditures. The
surplus for June is note das the largest
recorded for several years, exceeding
the June surplus of 1905 by more than
$7,O00,000. Comparing this years OPP
erations with last years, there has
been an average monthly gain of a lit
tie more than $4,0OO,OOo, On June 80,
1905, there was deficit of $24,305,9 03:
on June 80, 1906, there was a surplus
362
This notable recovery may be at
both from customs and from internal
revenue taxation. Our imports in 1905
'06 have broken all records, as our ex-
ports have. Customs collections have
therefore, advanced from 262,060,5
in 1904-'05 to s3O0,657.413 this year--a
gain of s3S,500,00O, or 14.5 per cent. In
ternal revenue collections increased
from $233,464,2 200 to $249.063,S67 a
gain of s15,599, 0OO or 6 per cent. Mis-
cellaneous receipts We're smaller by So
100000, but this apparent decrease was
due to the fact that last years mis-
cellaneous fund was credited with the
repayment to the government of ST.
100000 previously loaned to the Louisi-
in receipts was $51, 100000. On the 9TH
err hand, expenditures exceeded last
years total by only $500, 0O0 and blu.
for exceptional demands on the part of
the isthmian canal enterprise would
have fallen s15,00O,O00 to s2O,OOO,OO0
below that total.
Consistent and intelligent economy in
appropriations has begun, in fact, To
tell in the treasury's bookkeeping, notes
teh New York Tribune. In every item
of expense except that for public
works the outlay in 1905'06 was small
er than in 1904-'05. The navy account
was cut from $117,334,355 to s110,955,
BAT. The army cost about $6,000,000
less and pensions 100000 less, so
that in military expenditure, as
whole, there was a reduction of about
$13, 100000. The civil establishment
cost $6,200,000 less, the Indian account
fell off s1,5O0,0O0 and the interest ac-
count $4,000 But the outlay for pub
lie works increased from $43,515,719 to
$66, O20, O9S-more than offsetting all
economies in other directions. Congress
has wisely taken steps to check the
drain on the treasury of canal con-
The cost of this great en-.
terprise is to be met hereafter-as it
should be met-out of the proceeds of
bond sales. The present generation IF
taxpayers has done much more than its
share in financing the isthmian water
way, for s75,OOO,o0o or $S0OOO,OOO in
cash has been taken from the treasury
in the last three years to start this
project. The issue of bonds just an
nounced by Secretary Shaw will lift a
burden which the treasury has born~
long enough and will effect notable
saving in the public works account for
1906-'O7 Part of this sum, however.
has been already diverted by congress
to new public buildings and other in
ternal improvements. The treasury
has had two or three lean years recent
ly But conditions have now changed
decidedly for the better-and only a
new outburst of improvidence in con-
gress can lead to recurrence of hand
to mouth living and losing balances.