Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-12-07

whether or not a particular country
unduly discriminates against the
United States in the sense of the stat
ute referred to. The great scope and
complexity of this work as well -
the obligation to lend all proper aid
TO our expanding commerce. is met by
the expansion of the bureau of trade
relations as set forth in the estimates
for the department of state.
Government Expenditures and Reve.
nues.
Perhaps the most important question
presented to this administration is that
OF economy in expenditures and sum
cheney of revenue The deficit of the
last fiscal year, and the certain deficit
of the current year prompted congress
TO throw . greater responsibility on
the executive and the secretary of the
treasury than had heretofore been de-
esared by statute. This declara ton
imposes upon the secretary Of the
treasury the duty Of assembling all the;
estimates of the executive departments
bureaus and Offices, of the expendt-
lures necessary in the ensuing fiscal
year. and OF making an estimate OF
the revenues of the government for
the same period; and If a probable
deficit is thus shown. 1t is made the
duty of the president to recommend
the method by which such deficit can
be met.
The report OF the secretary shows
that the ordinary expenditures for the
current fiscal year ending June 30, 1910.
VIII exceed the estimated receipts by
s34.075.620. If to this deficit is added
the sum to be disbursed for the Pam
ANA Canal. amounting to 33S.o00.0oo.
and 100000 to be paid on the public
deot, the deficit OF ordinary receipts
and expenditures will be increased to
total deficit of s73,07562o. This de-
nclt the secretary proposes to meet by
the proceeds of bonds issued to pay
the cost of constructing the Panama
Canal. approve this proposal.
The policy Of paying for the con-
OF current revenue. but by bond issues.
was adopted in the Spooner act OF
1890. and there seems to be no good
reason Tor departing from the prin-
ciple by which part at least of the
burden OF the cost OF the canal shall
fall upon our posterity who are to en-
JOY 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
anuary l. 1918, shows that the cost Of
engineering and construction will be
s2s1 100000, instead Of $139. 705, 200. a.
originally estimated. In addition to
expenses, including sanitation and gov
eminent. and the amount paid for tho
properties, the franchise and the privi-
lege Of building the canal. increase this
cost of $75,%35,60o. to total of S37S.-
100000. The increase in the cost OF
engineering and construction IL due to
substantial enlargement Of the plan
OF construction by widening the canal
100 feet in the Culebra cut and by in
creasing the dimensions Of the locks.
to the underestimate of the quantity OF
the work to~be done under the orig
inal plan. and to an underestimate OF
the cost OF labor and materials, both of
which have greatly enhanced In price
since the original estimate was made.
In order to avoid q deficit for the
ensuing fiscal year. I directed the
heads Of departments in the prepara-
ton OF their estimates to make them
as low as possible consistent with inn
perative governmental necessity. The
result has been, as am advised by the
secretary OF the treasury, that the es-
Inmates for the expenses of the gov
eminent for the next fiscal year end
ing June 80. 1911. are less than the APP
preparations for this current Nscal
year by 342.s1s.o00. SO far as the sec
rotary OF the treasury Is able to form
judgment as to future income and
compare 1t with the expenditures for
the next fiscal year ending June 80.
1911 and excluding payments on ac-
count of the Panama Canal, which Will
doubtless be taken up by bonds. there
will be a surplus of s35,931.000.
In Nthe present estimates the needs
OF the departments and OF the govern
ment have been cut to the quick. 80 =,