Daily press. [volume] (Newport News, Va.) 1896-current, 1908-06-09
MS Itsf': Expenditures :15,ooo,'
90 nefs Than Income.
Il lnuEg|lTE RELIEF N VIEW
indications are That Congress Will
Appropriate Another Billion Dollars
at the Next session-lmporter' are
Awaiting Developments.

WASHINGTON. D. c., June s.--A
larger deficit will be shown by 'h''
treasury department this year-th" MS
cal year ending June Gotham mas
been shown since the Civil war OK,
cent In the single year 1899. The total
deficit will aggregate approximately
475, 0OO, 900 which is comparatively h',
lie less than the surplus OF the hsca'
year of 1907. oo
The deficit Of 1889 was about SS9'
00O. 900. That was the greatest since
the Civil war. From 1865 to 1894 the
fiscal years showed a surplus OF reVe'
nues, except in two years when tht'
deficit was Approximately N'ooo'ooo
each. From 1894 to 1889. each year
showed q deficit. ranging from $ls
100000 to $50 100000, Then the buS'-
ness Of the country began to\p'ck up
Between 1899 to 1903 the surplus each
year ranged from $55,6o0ooo to $9i:
600 900. The years 1904 aud 1903
showed deficits of $4,000. 900 and W.,
,OOO, 900 respectively. while IN l''o
there was a surplus Of $25,0Oo,O 900 ano
IN 1907 of So. COO, 600. :,
Fiuanciers who have studied the SIT
uatiou are convinced that II Is not
merely declining revenues that have
brought about the deficiency this year,
hut increased expenditures. Several
weeks ago II was pointed out that the
expenditures authorized at the recent
session Of Congress would aggregate
. larger amount than ever before had
BEEN appropriated at single session
OF Congress. The figures are, SUD
stantially, $1.0Os .00o.0 900. The likeii'
hood Is that the expenditures for the
next fiscal year will be practically a
like sum; so that, In the two sessions
OF the Sixtieth Congress $2.oOO,ooO,ooo
win have been appropriated.
z In the view OF the treasury experts.
II Ia probable that the deficit. month
ly, viii be as great for mary months
to come ASST. has heen in the last hve
or six months. This will be due not
only to O continuance Of the depres-
sion In receipL> but to the increased
! expenditures which will begin on the
Arst Of July, the beginning OF the new
fscal year, when the appropriations
made the recent session OF Congress
become available.
There IL a strong likelihood that
business. so far as importing is con-
oerned will not improve-and thus
increase the government revenues
until something definite Is known
about the attitude of the dominant po-
litical party respecting a revision or
readiustment of tariff schedules. For
eign products. which command big
duty under the present tariff, will not
be brought into this country pending
. decision rs to the tariff to he paid.
Importers will be very shy about
bringing to this country products this
year at 3 high tariff that they may be
able to bring next year at a tariff con-
siderably lower.
The new currency law enacted at
the recent session OF Congress will
have an important bearing on the at
titude Of the treasury toward the
money markets. The treasury now
viii not be under the necessity OF
preparing, to such an extent as here
totore, for the autumn stringency.
Il Is evident. however. that the
prospect Of tariff revision. together
with the large appropriations made by
the Congress. will induce the treas
ury officials to move with the great
eat caution in all matters concerning
government finances in the next year
Of two.