Albuquerque citizen. [volume] (Albuquerque, N.M.) 1907-1909, 1909-04-19
THE NEW TARIFF BILL
PROVIDES AMPLE
REVENUE
AldriGh Makes Statement That
BIZ as Reported Pro-
vldeS Funds In
Plenty.
OPPOSITION TO
INCOME TAX LAW
Veteran Senator Makes No Direct
Reference. FrownS on Demo-
cratic Plan to Tax Those
Who Make
money.

Washington, April 19.-In opening
the debate on the tariff bill in the
Senate, Senator Aldrich. chairman
of the finance committee. assured the
Senate in positive terms that the tar
III bill as reported would provide am
pie revenue for the government.
! While he did not refer specifically TO
the income tax statement, his decla-
ration that ample revenue may be de-
rived other sources was accepted as
direct opposition to all such PROPOSE
tions.
Nearly every senator was present
| and careful attention was accorded
Aldrich. He said that it was not his
policy to discuss the wisdom or un-
wisdom OF protective tariff policy.
He said also that there would be no
attempt to restrict debate on the
Democratic side.
Mr.. Aldrich said in part:
The practical question to which
ask your attention today Is, awin the
bill, as reported from the committee
on finance, produce sufficient reya-
nue. when taken in connection with
the internal revenue taxes to meet
the government expenses without adj
ditional taxes?' | answer unhesitat-
inSiy that 1t VIM 80
Mr.. Aldrich submitted statements
showing the receipts. disbursements.
surpluses and deficits. actual and es-
timated. of the treasury for the fiscal
years 1900 To 1911 inclusive. His es-
Inmates for the fiscal years 1909 to
1911 inclusive were as follows:
Fiscal year 1909-Recsipts, $685.
047230; disbursements, $S74,3O9,6 $50;
surplus, S69,462.45O A.
Fiscal Year 191O-Receipts. $685.
| 600, geo; disbursements, 500, ,OOO, 900,
surplus, s45.O00.OO0 A.
| Fiscal year 1911-Receipts $685.
100000; disbursements, $665,000, 600;
surplus, $30.000,000
A--defcit
In these statements. Goth the re.
ceipts and disbursements for the
Panama canal have been eliminated
for obvious reasons" said Mr.. AID
rich.
Bonds for the Canal.
1T is the policy OF Congress, which
has, l think, universal approval, that
payments for the canal and its con-
struction should not be made from
current revenues but met by the sale
OF bonds
| These figures include ali receipts
and disbursements except those OF
the postoffice department and the
Panama canal, but the postal deficits
are included in all cases in the dis
bursements. The statement consists
of the actual official figures of re-
ceipts and disbursements for the
years 1900 to 1908, inclusive and
shows that i'm these years the act of
! 1897 (existing law produced sur
plus of S42S,656,221, an average
yearly surplus OF $47,62S.469"
Mr.. Aldrich explained that he ar
rived at his estimates from data Sc
cured in consultation with treasury
| experts.
Taking the present fiscal year for
example, first we have the actual fig-
ures for nine and one half months.
which are: Receipts S46s,O42,S73:
disbursements $533,9S6.S15, showing
deficit of S65,s43.942." he eontin-
ued. II have taken the disbursements
of $53S,9S6,Sl5 for nine and one half
months and estimated those for tina
succeeding two and one half months
on the same basis, reaching the re-
suit of $674,509,6SO.
I'm making the estimates Of re-
ceipts OF 1909, the actual receipts and
! disbursements for the first nine and
one half months being available. the
| figures for the remaining two and
one half months are based on these
ascertained results and indicate re-
ceipts for the year Of $6O3,047, $50.
/ The figures show an estimated def
CiG of S69,462.450.
For the year 1910 the appropria-
tons have already been made and
rho amount which win be expended
can be forctold with approximate at-
curacy.
In making the estimates for
these expenditures l have taken the
gross appropriations for the year.
! 81 O44,O0O,O0O and deducted the ap-
! Irropriations for the postoffice de-
| Iartment. s235.OOO 600; the sinking
fund, $50, 600. 600, the National bank
| fund $4,000 600 and Panama canal
expenses, $4,000 600 and have add
| ga the official estimate for the pos
tni deficiency for the year SEQ. .00O.-
600, showing probable total of ex-