New-York tribune., 1907-03-06
NO DEFICIT IN SIGHT.

Some glaring perversOns of arithmetic
are necessary to prOve-as some Democratic
newspapers and Congressman are trying % do
that the appropriations for 19O7-'OS have ex-
ceeded the estimated revenues OF the government.
One trick In bookkeeping on which the prophets
OF a deficit rely is to add to the sums apprOpri-
ated for the ensuing year the totals authorized
20 be spent projects OF the future. like battle
ships and river and harbOr improvements. These
authorizations are mere directions to the Exec
utiVe Department TO make plans for future eX-
penditure, Congress promising TO furnish the
money hereafter as lt may be needed The two
battieships OF the Dreadnought type for which
specifications are to be prepared will not be COM
Bleted for several years. and the S15OOOOO0 to
S10OO0,OO0 which they may cost will be paid
out OF the Treasury In annual instalments But,
while the deficit hunters add TO next years bill
the many millions merely authorized and not
appropriated, they never deduct the many mill
ions to be spent next year on projects previously
authorized which under their system Of book
keeping have been already charged 10 the ac-
counts OF previous Congresses.
Mr.. Tawney, the chairman OF the House Ap-
propriatiOns Committee. and Mr.. Livingston, the
leading minority member, agree that the apprO-
priatiOns properly chargeable TO the fiscal year
19O7-'Os aggregate S919.94s.679. AS the revenues
for 19O7-Os, including postal receipts, are ex-
pected to reach SS5O,OOO.OOO. a paper deficit of
S7O,OO0.OOO Is indicated. But this deficit exists
only on paper. In the appropriations for 1907
'0S was included, as usual an allowance OF $57,-
100000 TO meet the requirements Of the Sinking
Fund law. But the sinking fund is now debtor
20 the Treasury through anticlpatIons In bond
purchases and not a dollar needs TO be set aside
for redemption purposes during the next fiscal
year. Similarly. a technical appropriation Of
S2O.OOO.OOO was necessary 20 provide a fund for
tie redemption OF national bank notes, though
the redemption Is actually made through deposits
Of the banks themselves. Deficiencies Of S1S.-
100000 provided for by legislation either TO
be repaid. as IN the case Of the Panama Canal
appropriation. or are to be met out OF the Treas
nrys revenues for IeO5-'O6. From the paper
total Of S9l994sOOO S9O.489,OOO should, there
fore. De deducted. bringing the Treasury's actual
outlay for next year TO SS29, ,5OsO0O. II receipts
reach Ss5O,OOO,OOO. as they promise TO do. there
viii be a surplus OF S2O,OO0,0OO.
ID Is true that next years expenditures will be
larger than this years But this year there will
be q surplus Of S6O.OOO.OOO or s7OOO0OOO. In
creasing the artillery corps of The army and
putting IL in "a condition 10 and properly
care for our new coast Notifications will involve
an additional expenditure OF S6OO00o0 The old
age service pension law. passed unanimously by
the Senate and almost unanimously by the House
OF Representatives, will requirefOr time an extra
outlay annually Of from SlO00000 10 Sl5000O0O.
Both these measures have been acce,ted by the
country as proper AID justifiable and there will
be no protest against similar increases in ex-
ue11dlture for reasonable public obJacts- AS We