Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-09
NATIONS FISCAL OUTLOOK.
Fiscal Year 1908.
Fiscal Year 1910.

d
| decrease in the INTEREST," bearing
| debt would be. shown of $21. 1862, 210.
| | The Notwithstanding debt was
, increased S27,S4o, 500.
The annual report Of Mr.. Cortelyou, the
Secretary of the Treasury, shows a re-
versal of conditions for the fiscal year
1905, compared with the fiscal year
for 1907. For the latter year the re-
ceipts were sS4, 236. $50 In excess of the
disbursements. For the fiscal year 1905
the disbursements were $5S,O7O,201 in ex-
| cess Of the receipts, due to business de-
preston and increased appropriations
Fortunately. the report says, the avail
able cash balance at the beginning of
the fiscal year was s272. Oe1 .445.
The Secretary says that the present
| form of Treasury statement is in several
respects misleading. 1t makes no separa
| ton between the expenditures for the
| ordinary service of the government and
| those for permanent public works. like
river and harbor Improvements. public
buildings and the Panama canal. If
| these statements differentiated between
the ordinary and the extraordinary ex-
penditures the record for the fiscal year
| 1908 would show ordinary receipts $601.-
| 126, 11S. Ordinary disbursements. 500, 477.-
S3S Surplus of receipts, $3O.64S 279.
| Extraordinary receipts-Sale of Panama
bonds. $24. 631 $50: sale of Treasury GER
| tiflcates. $15. F3t. 800; from premium, $735,
! 1873; total extraordinary receipts, SIC, SO4,-
26S
| Extraordinary dsbursements--For Pan
anna canal. S3S, O03. 425: for public build
ings under Treasury. s9.34I 1854: for recla-
| harbors. $50 157 .649: for the reduction of
the public debt, S34.;356. $50: total extra
ordinary disbursements. s123, 075.2 go.
There are other changes that should
| be made in the daily Treasury state
ment in the interest of better under
standing of the financial operations of
! the department.
Basing his figures on the estimates of
| appropriations already submitted by the
several executive departments, the Secre-
tary is of the opinion that the excess
| Of expenditures over receipts for the fiscal
year ended June 30, 1910. may reach
SAB, GAG, 796.
Revision Of Appropriations.
The Secretary devotes considerable
| space to the question of an economical
disbursement of current receipts, and the
| classification of both receipts and dis
bursements in such way as to facili-
| tate such an adjustment. and suggests
that it would. perhaps, be competent to
Congress to vest in joint committee
bills with a view to distributing reduc-
| tons and increases in an equitable man
ner, and also with view to the relative
Importance Of the object for which appro-
| priations are sought. 1t would seem that
such a committee should be charged with
| the responsibility of keeping the expendi-
| lures OF each year approximately within
| the revenue of the year, or, II this could
F.; not be done. that it should authorize
the issue of a proper amount of short
| term obligations to bridge over the de-
felt of lean years. By such a commit
| tee needless and wasteful expenditure
| might be checked.
More Revenue Imperative.
On the subject of the revision of the
tariff. the Secretary says the new admin
istration is pledged to a fair and equita
| Bile revision The necessities of the gov
eminent should be a guide. in part. to
the measure and character of the re-
vision. Data recorded in this report
| tel their own story. If the deficiencies
reach anything like the figures given
ample provision must be made through
new subjects Of taxation. to provide ade-
quate revenue. The earnest considera
| ton OF Congress is especially urged to
| this phase of the subject.
OF recent currency legislation the Sec
| rotary says that the act passed at the
last session Of Congress has served a
|
until the recommendations of the none
tary commission created by that Con-
gress can be considered and acted UPON.
In the Interest Of Fairness.
! Realizing that sudden changes in the
customs standing OF imported merchan-
disc are unfair to business and introduce
an element of uncertainty, the Secretary
| has instituted a new system by whench-
when the classification Of goods Is
changed, which results in the payment of
| a higher rate of duty-ample notice is
given to those interested.
There have been just completed by the
| department negotiations which put an end
| to the long drawn-out controversy as to
| the value of Limoges china And in do
ing this it had established precedent and
| n principle OF cooperation between the
manufacturing interests involved and the
| United States government which Is ca
pable of being extended to other classes
of merchandise with excellent results
| During the year the department has en-
tered into an agreement with the chamber
| Of commerce of Limoges, representing the
manufacturers of that city, as to the
value OF all kinds Of pottery there manu-
| ia ctured Some minor details yet remain
to be settled, but these do not affect
the harmonious results that have been
achieved.
Agreement With Germany,
| The report CANS attention 10 the COM
mission Of which Assistant Secretary
James r. Reynolds was the chairman
which went abroad last year to discuss
| with German officials certain important
matters affecting the proper administra-
ton of the customs laws and an agree
ment reached with that country contained
provision that the chamber of commerce
| of that country should be entitled to fur
! nissh certificates of value of merchandise
manufactured or produced in their respec-
| tive communities which should be regard
ed by the appraising officers OF the United
States as competent evidence in the find
| ing of value. This privilege was subse-
ouently extended to the chambers of COM
| merce of other nations. and it was
granted only after it was ascertained that
these organizations were governmental in
| their character, SO that in case Of a care
| less or false certificate OF value being
| sent to this country by such an organi-
cation ii would be possible 10 present the
matter to its government for proper &C