The Washington times., 1907-12-28
TREASURY DEFICIT
LIKELY THIS YEAR
Expenditures of Govern
ment Far Exceed First Six
Months Receipts.
December Falls Far Behind
Record of Same Month
Last Year.

watchdogs of the Treasury in the
House and Senate need only to point
to the daily statement of Government
receipts. expenditures. -redemptions. etc.
in order TO frighten away a large num-
Der OF this sessions supply of appli-
cants for appropriations.
At the rate things are running now'
the Treasury Department will have TO
exhibit a deficit on June 80. when the
current fiscal year ends. Confronted
with this prospect. the Appropriations
Committee will be able TO advance sub
stantial reasons for a policy of great
economy this winter.
The first six months OF this fiscal year
will soon end and will show an excess
Of expenditures over receipts OF from
IS. 100000 to 100000. The receipts for
the first half Of the fiscal year are con-
siderably lower than for the cores
ponding period OF last fiscal year-aoout
$S.OO0.O0O in round numbers. Expendi-
lures in the aggregate are running
about the same as they were year ago.
December Falls Behind.
The month Of December, up to the
close Of business December 2, was
nearly 100000 behind December. 1906
up to tho corresponding date, in re-
ceipts. The decline in customs receipts
made up large part of this deficiency
these being about S5,5OOOOO lower thus
far in December than in the same period
a year ago. For the month Of Decem-
Der thus far. internal revenue receipts
have fallen about 100000 behind those
Of the same period a year ago.
considerably heavier than they were a
year ago. Customs receipts for the fis-
cal year thus far are between S.OOO.oOO
and S. 100000 behind those OF the same
period in the preceding fiscal year.
while internal revenue receipts have
fallen nearly S6.OOO 900 behind.
1t has been less than two months since
the decline in Treasury receipts became
noticeable. December has shown most
Of the falling of. Treasury officials
hope to see a change for the better De
fore the fiscal year is much farther ad-
vanCed. A continuation Of the down.
ward tendency in receipts the rest OF
the fiscal year would be embarrassing
and would mean large dehit.
Small Working Balance.
The working balance in the Treasury,
as shown by the latest Treasury state
ment. has sunk 10 a remarkably low
point 1t is only 50, 3,533.60. But few
years ago. it was thought essential TO
have a working balance OF about $50
100000 There is an available cash bal
anCe Of about $26S, 900. 900. but the most
Of this is tied up In national banks,
where tt has been deposited or Is In
the hands Of disbursing officers.
This situation has led 10 suggestions
that il will be necessary for the Treas
ury to call on national banks for some
of the deposits in their hands. II his
step. however, would be met with Wig
Orous protest from the bankers in view
Of the financial situation. X Is also
suggested that a further issue of per
cent certificates Of Indebtedness be
made or that Treasury checks be Issued
directly against deposits IN national
banks.
At any rate, the need for ready money
at the Treasury is great and II Is un-
derstoOd Secretary COrtelyou, though
he IS still sick at his home, has taken
up personally the question OF how TO
meet the eXigency