Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-07-08
Officials Pleased at Show
ing Of Finances.
Are Hopeful for Continuance
Of Improvement.
Pension Payments for the Year
Increase 5000, 900.

Washington, July 7-Treasury Off
Gals are pleased at the present show
ing of Government finances. Ordinari-
ly deficit of $S9,S11 ,156 in the Federal
revenues would not be a matter of con-
| graduation. Nevertheless, at the close
| of the fiscal year 1903, the Treasury
officials are very mulch gratified that
| the official estimate of a deficit of $114,-
100000 made last December, has not
| been verified, and arc hopeful for a
continuance 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 irregularlty. AS late as Feb
ruary last the expenditures were in
creasing at such a rapid rate and the
revenue falling off 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 10000
| 00C. But a slight upIurn in customs
receipts was noted about the middle of
December. Improvement was slow,
| however, until about the beginning of
March, when large importations We're
| made, probably induced, in part, by
prospective tariff changes.
The customs receipts for the year
| aggregated 1901, 20a. S63, which is an in
crease as compared with last year of
| $15,00O,000. The internal revenues pro-
| duced 1916. 329 1868, decrease of about
| $5,000,000. Miscellaneous receipts ag-
gr1gated $56,S92,3l9 which is Il falling
| off of about $500, 900 The receipts from
all sources during the year aggregated
! 1904 49,, SAC, which is an increase over
| last year or $3.50 600
| On the side of expenditures the total
| for the year was $50 i,244,002. which is
| an increase over 1908 of about $37 900.
| The civil and miscellaneous eXpendi-
| lures amounted to $164,100,2t2, an in
crease of $5,o0000O over last year.
| The War Department expenditures
aggregate $16i, 100242, an increase of
| $40, 000, 900
The navy account is the only item in
| the list to show a decrease, the figures
| for the year being $115,9SS ,S69 as
against s11S,7S0,23 for the year 1908.
| Pension payments for the year
amounted to $161, $3.50, 1923, an increase of
about $4,000. 900.
| The expenditures on account of the
| Panama Canal were 100000 less than
| for last year. being $31. 4202S6. 1t is
| fully expected that the new fiscal year
will start with series of monthly de-
ficiencies, notably for July. when the
new appropriations made by Congress
| become available. July last year result
ed in a deficiency of $24, SOS 900, and this
| hox Il, Il
it not been for the anticipation of about
| $5,000,000 representing the last pay
| ments to the Government on account of
the settlement of the Central Pacific
| Railroad Indebtedness. In July, 1907,
| there was deficiency of $40, 901 600 and
| in July, 1906, another of $13. 600. 1t
| seems probable that the deficit for the
| present month of July will be between
| SIC. 900 and $14,0o0,G00. 1t was in
view of the certainty of a deficiency
| for July that Secretary of the Treas
ury MacNeagh has called on National
| Depository Banks for return to the
Treasury of S25, Q00,0 900 The Treasury
working cash now standing at about
| $42,000,o0n. VIII be raised by this call to
about $6I 900, 0C0.
This will be d comfortable working
balance with which to enter upon the
summer operations Of the Department.
but will not be sufficient to carry the
Treasury through the fall crop-moving
season unless the revenues either under
the existing tariff or under the pending
act show even greater improvement
than has been exhibited recently. In
the event that the Treasury should re-
Guire additional funds the Secretary is
authorized to issue either Panama
bonds or Treasury certificates of indeb-
tedlless under the war revenue act of
1893. The authority to issue Panama
bonds is limited to about 45,OOO,OOO
while the certificates may be issued to
an amount not exceeding 100000, 900.
The monthly statement of the Treas
| ury shows that at the close of the tis-
| cal year June 80, 1909. the public debt
| less cash in the Treasury amounted to
81 014,S6 ,531 decrease for the month
| of S6,26S079
The cash In the Treasury is classified
| as follows: Gold reserve $50, 900 900;
trust funds, &,34l. $50 SEQ; general fund
$l5h.341 524; in the national bank depos-
| itaries. $7469S,615; in the Philippine
| treasury. $d.152.072; total 81, 72O, 423. Os2,
| against which there are demand liabil-
| tiles outstanding amounting to $1,4i5,-
| 969. 240, which leaves a cash balance on
hand of $27d. 1884.
The total receipts for the month were
$50. S57, $40, and the disbursements, $47,-
Isl .697.
The condition of the Treasury at the
beginning of business yesterday was as
| follows:
Re serve Fund
Gold coin and bullion. ........ sl5OOOo.O O0
Trust Funds. to redeem out
| outstanding certificates
| Gold coin. ................. So 6O1 500
| Silver dollars. ............... 4S4 414 600
| Silver dollars for 1890. 4215.0O0
| Total .....................$ 81 341 80, 500
| General fund ................. 95,740,3O1
| Deposits in national banks. 74.69S, SIG
L q