Los Angeles herald., 1909-12-08
ROOTS MISTAKE
IS SENSATIONAL
u. S. TREASURER'S REPORT
PUBLISHED PREMATURELY
STATEMENT SENT OUT BEFORE
AUTHORIZED
Estimated Receipts for Year Are
$64s,ooo,oo0 and Disbursements
$6a2,o75,62o, a Deficit
of $34,o75,62o
tAssociat.d Pressl

WASHINGTON, Dec. 7.-Senator
Root of New York, presiding In the
senate today In the absence OF wee
President Sherman, created a sensa-
tion among newspaper men.
The effects were even international.
Copies of the annual report of the sec
retary of the treasury were In the
hands of newspapers throughout the
country and Europe, and to be held IN
confidence for publication tomorrow
afternoon.
The report itself was still unsigned
on the desk of Secretary MacVeagh
in the treasury building.
BY some means as yet uncertain Two
printed copies of the report found their
way to the desk of the president OF
the senate. Mr.. Root Is past mas
ter In the art of dispatching routine
business In the senate and he deity
handed the treasury report over the
desk with the routine announcement
customary in such cases.
Instantly keen eyed reporters on the
senate floor flashed to the wires the
news that the report had become a
public document, and the release
clicked off to Chicago, San Francisco.
New York and to Europe.
The report in part follows:
"Retrenchment is the keynote in the
estimates of expenditures for the ex-
ecutive departments Of the government
for the fiscal year 1911 embodied in the
annual report of Franklin MacVeagh as
secretary of the treasury, made public
today. This is I'm line with President
Taft's declared policy of greater econ
omy in administering the affairs of the
government
"The total estimates for 1911, includ-
ing the naval building program, are
$6S4152,197. Excluding the increase in
the Panama canal estimates the total
estimates for 1911 show a decrease OF
$751; ,49309 under the appropriations
of 1910. Including the increase in the
Panama canal estimate the total esti-
mates for 1911 show a decrease of $42,-
S1S,969.19 under the appropriations for
1910.
1.-THE ordinary estimated receipts for
the current year are seas, 900, 900, and the
ordinary disbursements $6S2, ,075, 500,
leaving n deficit in ordinary receipts of
$34, ,075, 500. When the payments on ac-
count of the Panama canal and the
public debt are added, the total deficit
OF the fiscal year 1910 is estimated at
$73,075, ,62012. The estimated ordinary
erceipts for 1911 are S672 100000. and the
estimated ordinary appropriations are
S636, ,06S, ,672.51, or a surplus in ordinary
receipts of $35. .931, ,327.49. When the PAN
anna canal estimates for 1911 are added
the surplus is turned into a deficit of
$12, 1872, 1877
For the fiscal year 1910 the navy
building program was not included in
the estimates submitted to congress. 1t
is, therefore, n matter of interest to
note that when the naval building pro-
gram is eliminated from the estimates
for the fiscal year 1910 and 1911, the
receipts for 1911 are $672 100000 and the
less than the total estimates for the
fiscal year ending June 30, 1910"
Secretary MacNeagh, empha sizing
the "hard rigidity Of the present reve-
nue. system, with its recurrent econom-
ical agitations and its long intervals of
fxity." saws It will be necessary TO