The Birmingham age-herald., 1909-07-02
MONEY SHORTAGE
 IS NOT ALARMING Treasury Deficit Is Much Smaller Than Expected IMPROVEMENT IN TRADE According to Estimate Made Last De- cember the Shortage Would Have
 Been Over Hundred Mill
 lion Dollars.
IMPROVEMENT IN TRADE

Wash hington, July 1.-Treasury of fcials are pleased at the present show ing of the government finances. ordi- narily a deficit in the government rev enues of $S9,s11156, as shown by to- days statement would not be mat ter of congrat tulation. Nevertheless, at the close of the fiscal year, 1909 the treasury officials express much grati- fieation that the official estimate of deficit of $114,000,000 made last De- cember has not been verified, and are hopeful for a continuance of the inn provement which has been especially noted during the last four months.
 Since the December estimates were submitted to Congress, however, the re- ceipts and expenditures have shown marked irregularity and as late as February last the expenditures were increasing at such rapid rate and the revenues falling off so sharply that it was greatly feared the balance on the wrong side of the ledger might by t1e close of the fiscal year reach s130 000,- 000 But a slight upturn in customs receipts was noted about the middle of December. Improvement was slow, however, until about the beginning of March, when large importations were begun, most 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 greatly reduced deficit.
 The customs receipts for the year ag- gregated $301 1868, which is an in crease as compared with last year of $15,OOO, 900. The internal revenue pro- duced $2463290 9063 a decrease of about 5000, 900. Miscellaneous receipts az gregated s56,S99, ,919, which is a falling off of about s6,500,0OO. The receipts from all sources during the year ag- gregated s604, 4,432,S46, which Is an in- crease over last year of $3,25O, 900.
 On the side of expenditures, the total for the year was s6s4,244,002, which Is an increase over 1908 of about s37,- 900 900.
 The civil and miscellaneous expendi- lures amounted to sl64, ,2SS, ,53s,I an increase of 5000, ,000 over last year.
 The war department expenditures ag- gregated s164 10O,242, an increase of $40,- OO0,OOo The navy account Is the only item in the list to show a decrease, the figures for the year being $ll5,9Ss 1869, as against ] S.7S0 ,233 for the year 1908.
 1 Pension payments for the year amount l ed to $161, 6s9, 423 an increase of about ss,0oo,0O0.
 | The expenditures on account of the l Panama canal were S6,0O0,000 less than for the last year, being s3l, ,42O,2 ,2S6, It Is fully | expected that the new fiscal year will start with a series of monthly deficiences, notably for July, when the new appropria- tions made by Congress become avail able. July last year resulted in a deficit | of s24,S6S ,000 and this would have been nearer S30,000,000, had 1t not been for the anticipation of about $5,000,0o0 representing 1 the last payments to the government or account of the settlement of the Central Pacific railroad indebtedness, It seems | probable that the deficit for the present month of July will be between $10,O0O, COX and Sl4,0O0,000. It was in view of the certainty of a deficiency for July that Secretary MacVeagh has called on na- | tional depositary banks for return te the Urea sury of s25.000,00O.
 The treasury working cash, now stand ing at about $42, 100000, will be raised bJ this call to about s67,0O0,O00.