The Washington herald., 1908-05-25
Happy.eO.Iucky FInaneIerIns.

In his annual report the Secretary Of
the Treasury estimated that the total
revenues of the government for the fiscal
year 1909 would be Ss7S.123.Ol1. At the
same time he submitted to Congress, as
required by law. the estimates OF ap-
propriaticns required by the executive
! departments. amounting 20 a total OF
SalS. 2SS. or sSJ. SIG IN I'm excess OF the
estimated revenues. Mr. CorteIyou wisely
regretted the necessity OF submitting
these estimates, "for they are for the
most part problematical" How, prob
lematical, the course Of the revenues and
the history of the appropriation bills
| show. So far as their influence over
the action Of Congress is concerned. there
might almost as well have been no esti-
mates at all, or. at any rate. no estimates
Of revenue, since the appropriations made
by that body have taken no account
whatever Of the probable revenues of the
government. in spite OF insistent and en-
phatic warnings from Congressional
economists.
Soon after the transmission of Mr. Cor
telyou's report to Congress, government
revenues began to fall of. and instead
of running ahead OF expenditures, as had
seen expected, they are steadily running
behind. Up to date the expenditures for
the fiscal year 1908 are over S6OOOO.oOO in
prcaSu NJ rbo ror-ap,,og r,horoo. ~. G..
retary had anticipated a surplus. So
that the available government income for
the approaching fiscal year will be many
millions less than the total given In the
Treasury estimates. Now. in face of
this Treasury situation. what has been
done with appropriations? We have seen
that the original estimates OF expenditure
were far in excess Of estimated revenues,
and the estimated far in excess of ac-
tual revenues. But what Congress has
done is 20 appropriate over 100000 900
more than was asked for The total of
the appropriations at the present session
VIII reach the astounding sum OF
81 OF, 100000, or about double the normal
expenditure OF ten years ago. Already
recrimination has broken forth. the
wicked Senate being accused Of the bulk
Of the extravaganza. Mr.. Burleson has
compiled some interesting figures. show
ing how the Senate loaded up each ap-
preparation BILL until the shaving and
pairing or House economists was brought
to naught.- the increases made by one
body just about offsetting the economies
sought to be effected BY the other. This
Is one explanation Of extravaganza. but
It does not account for all of It. The
Senate die not originate the public build
ings bill. for example. or the widows
pension bill Moreover. the House is an
only too willing victim to Senatorial ex-
travagance, all of which could be pre-
vented by a vigorous assertion Of pre-
rogatlve, as Mr.. Burleson suggested
II our government fnanciering were
scientifically conducted, three courses OF
action might have been taken in the
present situation. The appropriations
might have' been kept, within the rev.
enues; OF the necessary increase Of gov
ernment expenditure might have been
provided for by incres sed taxation. or bv
borrowing money. lyone of these things
has been done by Congress. 1t would
have been thought poor politics 70 do
either; yet It would assuredly have been
sound finance. AS it is. Congress leaves
the business Of adjusting expenditures to
income to the Secretary OF the Treasury.
That official undoubtedly hopes, in the
first place, that the government revenues
VIII resume their former proportions.
That may happen. and. 10 that extent.
Will relieve his embarrassment. He has