The midland journal. (Rising Sun, Md.) 1885-1947, 1909-07-09
DEFICIT IS SMALLER
Than WAS EXPECTED
Shortage For the Fiscal Year Ninety
Millions.
BIG MISCELLANEOUS EXPENDITURES.
Treasury Officials Gratified That It
Does Not Reach $114, 100000, As
Was Estimated - Last February
1t Was Feared That 1t Would Go
Up To $4,000, OOO-Anticipate
Monthly Deficits.

Washington. d. c.. (SpeciaI). -
Treasury officials are pleased at the
present showing of the government
finances. Ordinarily deficit in the
government revenues of $89,811,156,
as shown by statement, would not be
matter of congratulation. Never
theless, at the close of the fiscal year
1903 the Treasury officials express
much qualification that the official
estimate of deficit of STA, 00O,0 900
made iast December has not been
verified, and are hopeful for con-
tinuance of the improvement which
has been especially noted during the
last four months.
Since the December estimates were
submitted to Congress, however, the
receipts and expenditures have
shown marked irregularity, and as
late as February last the expendi-
lures were increasing at such a rapid
rate and the revenues falling of so
sharply that it was greatly feared
the balance on the wrong side of the
ledger might by the close of the
fiscal year reach $3.50, 100000. But
a slight upturn in customs receipts
was noted about the middle of De-
cember. Improvement was slow,
however, until about the beginning of
March when, large importations were
made, probably induced, in part, by
prospective tariff changes. The re-
suit, both of improving revenues and
the strong holding down of expendi-
lures, has resulted in a greatly re-
duced deficiency.
The customs receipts for the year
aggregated 1901, 209,863, which is
an increase as compared with last
year of $15,000,000. The internal
revenues produced $246,329,063 a
decrease of about $5,000,000. Mis-
cellaneous receipts aggregated $780,
893,919, which is a falling off of
about $6,500,00O. The receipts from
all sources during the year aggregat-
ed 604,432,846, which is an increase
over last year of $3,250,00O.
On the side of expenditures the to-
tai for the year was s694.244,002,
about $37,000,000.
The civil and miscellaneous expen-
ditures amounted to 164,288,538,
an increase of 100000 over last
year.
The War Department expenditures
aggregated 1854, 100,242, an increase
of $4O,0O0,00O The Navy account
is the only item in tie list to show
a decrease, the figures for the year
being $115,988,S69, as against $118,-
780,233 for the year 1908.
Pension payments for the year
amounted to $161,6S9,423, an in
crease of about $8,0OO,000 The ex-
penditures on account of Panama
Canal were $6,00O,0O0 less than for
last year, being $31,420,286. 1t is
fully expected that the new fiscal year
will start with series of monthly
deficiencies, notably for July, when
the new appropriations made by Con-
gress become available.
The Treasury working cash, now
standing at about $42,000,000 will
be raised by the call on the deposit
tory banks to about $67, 100000.
This will be a comfortable working
balance with which to enter upon the
summer operations of the depart
ment, but will not be sufficient to
carry the Treasury through the fall
crop moving season unless the reve-
nues, either under the existing tariff
or under the pending act, show even
greater improvement than has been
exhibited recently.