The sun., 1908-04-18
TREASURY DEFICIT GROWING
MAY REACH S6O,OOO,OOO Ar END
or THE FISCAL YEAR.

| 4 Year AGO Instead Of . Defclt There
Wasa surplus Of More man SB2 900 900
Slump Of s83 900 900 IN Customs
and $4,000 900 IN Internal Revenue.
WASHINGTON, April 1.-THE large balance
Of trade which the United States will realize
in this fiscal year will be Offset by a Treasury
deficit amounting probably 10 somewhere
near 500, ,0OO, 900, At the close Of business
to-day the excess Of expenditures over
receipts since July I, 1907, reached nearly
t4S,0OO,OOO. or this deficit H,2s6,5H has
been accumulated In the first seventeen days
! Of April For the present month the rum
ming expenses OF the Government sill prob
ably amount to something like Si2,OOO,OOO
more than the current income.
The era of Roosevelt prosperity which
set in early last winter, knocked the Gus
toris receipts galley west, for the volume Of
imported merchandise declined sharply and
a large percentage Of such invoices as were
received at the big ports Of entry went into
the bonded warehouses. The duties on
imported merchandise placed in the bonded
warehouses are not paid until the importer
finds it convenient to withdraw the goods
and liquidate the entries The money
stringenoy last winter and the general i'm
pairment Of business confidence caused a
great influx Of warehouse goods
Now that the big appropriation bills are
under consideration in Congress the more
conservative leaders represented by Mr.
Tawney Of Minnesota, the present watch
dog Of the Treasury, are sounding an
alarm by pointing to the present condition
Of the Governments business To-days
Treasury statement shows that the current
account Of the Government is less favor
able than il was year ago to-day, the
difference amounting to more than S9j,OOO,-
900. A year ago to-day instead Of deficit
Of nearly S4sOOO.OOO there was.a surplus Of
more than 81. .OOO.O 900. OF this years excess
Of expenditures over receipts about So 0OO,-
900 is due to the slump in imports The
customs receipts in this fiscal year todate
have been t?3I, 7o5, ,fO7 as against S265 OIL ,22o
In the corresponding periol ~ the fiscal
year 1897.
In a smaller degree the unfavorable
condition Of the Governments current
account is dire TO a falling on in the receipts
from internal revenue, The improvement
Of business prosperity Is reflected in the
fact that the income from internal revenue
taxes In the present fiscal year to date has
10 S2Ol .O3l ,Sl9, or nearly Sl?,O |
200 lees than in the same months Of last
scar.
While the receipts Of the Government |
from regular SOURCES have decreased In this |
marked degree there has been natural !
increase in expenditures Comparing the |
iirst nine and half months of the fiscal |
period. which will end on June ~ next. I
with the corresponding part Of the year !
ended June 80 Of last year the expenditures 4
ia the latter period have been y5s,OOOOOJ ,
Inore The War Department, has cost .
81 10 OOJ more than last wear, the naval ,
ubou. Sls.WO.OOO more, PEN
sious Sll 900 .OOO more aud civil and mis- !
cellaneous objects sl7OOO more. Under !
the head Of pubic works there has been
an ncrTase Of Sij,0OOOOO.
There has, however, been a decrease
in interest payments amounting TO about
", ,2OO, 900 In all other RESPECTS the treas.
ury condition, a. far as the daily ledger /
Is concerned, ia far less favorable than it
was last year at this time, and there is no
prosDect uf an early Improvement