The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1909-12-09

departments, In all Of which I wish t.
express my general concurrence.
Perhaps the most important ques
ton presented to this administration
Is that Of economy in expenditures and
suficiency OF revenue. The deficit OF
the last fiscal year and the certain
deficit of the current year prompted
congress to throw greater response
btlity on the executive and the secre
tary Of the treasury than had hereto
fore been declared by statute. This
declaration imposes upon the secretary
OF the treasury the duty of assembling
all the estimates OF the executive de.
partments. bureaus and offices OF the
expenditures necessary in the ensuing
hscal year and Of making an estimate
OF the revenues Of the government fol-
the same period. and if probable def.
lett Is thus shown It Is made the duty
OF the president to recommend the
method by which such deficit can be
met. q
Estimated Deficit $7s,o75, 800.
The report of the secretary shows
that the ordinary expenditures for the
current fiscal year ending June 80,
1910. will exceed the estimated re-
ceipts by S34.0T5.620. II to this deficit
are added the sum TO be disbursed for
the Panama canal. amounting TO $3S..
100000, and 100000 to be paid on
the public debt, the deficit Of ordinary
receipts aud expenditures will be In
creased TO a total deficit Of $T3 ,075, $40.
This deficit the secretary proposes to
meet by the proceeds Of bonds issued
to pay the cost Of constructing the
Panama canal. approve this PRO.
posal.
The policy Of paying for the con-
struction Of the Panama canal not
out Of current revenue, but by bond
issue. was adopted in the Spooner act
of 1902. and there seems to be no good
reason for departing from the princi-
Pile by which part at least Of the
burden Of the cost Of the canal shall
fall upon our posterity, who are to
enjoy 1t. and there is all the more rea-
son for this view because the actual
cost to date of the canal. which is now
half done and which will be completed
Jan. ], 1915, shows TINT the cost of
engineering and construction will be
1927 900 instead Of S139, T05, 200, as
originally estimated In addition to
engineering and construction. the 9th
er expenses. including sanitation and
government and the amount paid for
the properties. the franchise and the
privilege Of building the canal, in
crease the cost by $I5,435, 600 to a
total of $375.201 600. Tue increase in
the cost Of engineering and construc-
ton is due to a substantial enlarge.
ment OF the plan of construction by
widening the canal 100 feet in the Gu.
Zebra cut and by increasing the d.
mansions OF the locks, to the under
estimate Of the quantity of the work
to be done under the original plan and
to an underestimate Of the cost of Ia
Dor and materials. both of which have
greatly enhanced III price since the
original estimate was made.
In order to avoid deficit for the
ensuing fiscal year i directed the
heads of departments In the prepare.
ton of their estimates to make them
as, low rs possible consistent with i'm.
perative governmental necessity. The
result has been. us am advised by
the secretary Of the treasury. that the
estimates OF the expenses of the gov
eminent for the fiscal year ending
June 80, 1911-that Is. for the next
fiscal year-are less by S55663, 600
than the total Of appropriations for
the current fiscal year and less by
$94,000,000 than the estimates for TINT
year. So far as the secretary of til.
treasury Is able to form Judgment rs
to future income and compare 1t with
the expenditure for the next fiscal
year ending June so. 1911. including
the payments on account OF the Pan.
anna canal and the public debt. there
win be no deficit in the year ending
June 80. 1911, but a small surplus Of
$T12,OOp.
In the present estimates the needs
Of the departments and Of the gov
eminent have been cut to the quick,
so TO speak, and any assumption on
the part OF congress. so often made ii
times past, that the estimates have
been prepared with the expectation
that they may be reduced will result
in seriously hampering proper admin
lstration.
The secretary of the treasury points
out, what should be carefully noted III
respect to this reduction in govern
mental expenses for the next fiscal
year, that the economies are of twu
kinds-frst, there Is saving In tho
permanent administration of the de.
partments, bureaus and offices OF the
government, and, second, there is a
present reduction In expenses by a
ipostponement Of projects and i'm
proyements that ultimately will have
to be carried out. but which are now
delayed with the hope that additional
revenue in the future will permit their
execution without producing a deficit.