The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1908-07-13
THE AMERICAN
FISCAL YEAR
1t Shows Big Falling Off in
Liquor Receipts for
One Thing.
advertiser Correspondence, Copyright
by Frederic J. Haskin.)


WASHINGTON, D. c., June 30.-To-
morrow is the governmental New
Year s Day, so fixed by Act of Con-
gress passed August 26, 1912, when the
fiscal year began to be reckoned from
July /. At half past four clock this
afternoon Uncle Sam s bookkeepers
will close the accounts for the fiscal
year 1908 and open new ledgers for
the fiscal year 1909. Balances will not
be actually struck, however, for weeks.
The red lines will not be drawn until
the receipt of the final reports cover.
ing the transactions up to midnight of
June 80, 1908, in every city and hamlet
throughout the United States and from
every point, no matter how remote,
where disbursing officer or govern
>ment agent handles an American dol
lar. IF the final reports of the col
Hector of internal revenue at Honolulu
vary even to the extent of a half
ounce snuff stamp, value three-six-
teenths of a cent, the reports must be
returned for correction or verifcation
and make the return journey halfway
across the Pacific before the nation s
books are closed for the year.
The significance of the American ifs
cal year increases annually with the
wonderful growth of the country. On
February II, 1870, Congress, by resolu-
ton, established the office of Secre
tary of the Treasury, with salary Of
$4,000 year attached. Five years lat
er the current expenses of the gov
eminent, exclusive of the interest on
the public debt, aggregated $455,000.
To meet the expenses of the govern
ment for the fiscal year 1908 Congress
appropriated upwards of 1902, 900 900.
1t was estimated at the beginning of
the year that the receipts from all
sources would total something more
than 1914, 100000.
These calculations provided for a sur
plus of $42,000,000 in the revenues for
the current fiscal year, but it remains
to be seen whether or not the books
will disclose such happy state of af-
fairs. Beginning with the financial
stringency that developed early last
fall, there was decline in the customs
and internal revenue receipts which
continued throughout the remainder Of
the fiscal year A considerable deficit
is now apparent.
A fact in connection with the close
of the current fiscal year that will prob
ably give comfort to the prohibitionist
is that one of the largest items in the
reduction of the revenues of the govern
ment is in the receipts from the tax
on distilled spirits. The extent of the
falling off from this source cannot be
accurately stated prior to the appear
ance of the official report, but from
data now made public it is evident
that the receipts from distilled spirits
will show a loss of approximately
twenty million dollars as compared with
the fiscal year 1907. This will very
much more than overcome the gain
made by distilled spirits in the previous
fiscal year, when the receipts showed
an increase of upwards of twelve mil
lion dollars, or a consumption of more
than eleven million gallons in excess of
the Withdrawals during the fiscal year
1906 One feature, however, of the cur
rent years collections from distilled |
spirits, calculated to be more or less
dlSquletlng TO the pfOnDlCIonlsE, is, de- |
spite this evident reduction in the con-
of ardent spirits, the figures
now available indicate an increase of |
$500 retail dealers in Intoxicating
liquors.
The falling off in the receipts from
distilled spirits is due to three causes:
the depression in business following the |
stringency which began last |
fall; the use of grain alcohol, free of |
tax, in the arts and industries; and the
passage of prohibitory laws. The loss
to the revenue, however, by reason of |
the local option laws is not as great as
popularity supposed. Careful analysis
of governmental statistics plainly indi- |
Gates that while the consumption of dis
titled spirits, taking the country as a |
whole iS innraaSinn The nor cn1nita CON. |