New-York tribune., 1908-07-02
THE TREASURY'S YEAR
DEFICIT NEARLY 500. 900, ,00C.
Secretary Cortelyou May Soon Cal
on Banks for so, 1000, 900.

Washington July 1.-The Treasury statement OF
government receipts and expenditures SHOWS 'iiat
for the fiscal year just ended the total recelp.s
were s5ss 763 and the expenditures s6's'90zN
leaving the deficit for the year $se5s,Sel as as@'
a surplus year ago of sse.siS542
Customs receipts for the year amounted 10 s-o''-
s5S or sz7 600 less than last year Interhal
revenue receipts aggregated $3.50 l4oS, or SsoosoV'
less than last year. The receipts from mlscei-
laneous sources amounted s6S.5ol, ,lo2 which Is
gain Of nearly ss0o0Oo0. large part OF TINS SUM
came from the profits on silver coinage Inc uis
bursements account of the War Department ne
were slI0 2s4 SIS as against s0l5s $50 for ls Inc
navy also shows expenditure Of Sils 'zo'o4' as
against se7. .eos,595 for 1907 Pensions agsregateu
s5s s 9s5 as against sSs, sos last year. anu t
public works item shows expenditure OF heaiiS
So 600 oo an increase Of about Al,125ec' me te
cein+s for June show reduction from s62.7ll.coc
one year ago to s5S4ss612, while the disbursements
increased from $40 $1,000 TO s4S.5lS6S Inc 49, ~
Of receipts disbursements for June was sS'''
2s.
E,o-, .be Treasury point of view the fiscal year
.,,s+ closed has been a most unsatisfactory one
Since about the middle Of october last "heh l'le
period Of money stringency set III ana lhe coiis
cuent depression in business began to be 1eIl' 'ne
has been a constant falling of in revenues up -
the month just closed For June surplus Is
shown Of nearly Si,0o.ooo. This iac', ho"eNe' -
nos significant, June is unfailinsly surplus
month largely due 10 the fact that II Is the CLOSING
month Of the fiscal year. when appropriations
gradually reach the point of exhaustion June
1897 showed a surplus of approximately sIIo"o"'
and every preceding June for many years past mas
shown large surpluses AS the month OF 0iie uii- |
forrnlv shows surplus the month of July as GER
tainly shows a deficit. Nearly all appropriations
become available July !, and tins year treasury
officials are looking forward TO deficit larger lhan
,,suaI While they are willing at this time 10
EXPRESS an opinion its size, ii is believed that
$4,000 900 for the month would be a conservative
estimate with a chance OF its being considerably
larger than that The amount of cash now IN me
Treasury vaults and available 10 meet expenditures
is about S7oOce0D. In addition 10 this there is on
deposit with national banks about sa3 4ooo when
is at all times subject call by the Secretary. A
considerable portion Of this sum is likely to De
called into the Treasury within the next few days
and while Mr.. Cortelyou has not Indicated ~lat
his purpose is. is thought II viii not De less udh
$50 0o0,0Oo-
--be monthly statement of the public debt shows
that st the close Of business June 30 the DEBT
less cash in the Treasury, amounted to SS3Sl5ZiV9
which is an increase compared with May 81 OF
sl,7s3,7s4
The monthly statement of the circulation OF ma
tioual bank notes shows that at the close Of busl-
ness Yesterday the of the fiscal year, the total
outstanding was S69S 33S.9l7, increase for the
wear Of Sss545227 and a decrease for the monh
Of s1l5s0a The circulation. based on United States
bonds a1nounted s623, ,250,5l7, an increase Tor
the wear Of So 636 and decrease for the month
of 81 4s3 $50. The circulation secured by lawful
money aggregated $750SS 400, an increase for the
year Of s26 Ss5. .59l and increase for the month
of S,S4SOS0 The amount Of bonds on deposit TO
secure circulating notes S62S,14S0, and TO Sc
cure public deposits $1S0,4594l9.
A statement issued by the director OF the mint
shows that the coinage executed in the fiscal year
ended Yesterday was as follows: Gold, $97,2SSS77;
silver AZ; minor coins $,946oeS; total $2l5-
IA $50 In addition 415 eipces ere coined for
the Philippine Islands and 1881 29 for the Mexican
government.