Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-04-20
II His Estimate, However, Is
in Error, Congress Could
Easily Make Ends Meet by
Reducing Expenses.
DID NOT MENTION
INCOME TAX VIEWS
DEMOCRATS WANT
Payne Bill Proposes Net Increase
Over Present Law of $H,666, 74S.
Senate Bill Plans to Make Amount
9,934, 420 Increase.
~ Asaociated Press.l


the debate on the pending tariff bill to-
day Senator Aldrich, chairman of the
committee on finance, assured the senate
In most positive terms that the bill re-
ported from his committee would produce
! ample revenue from the government.
He suggested that if. by any possibility,
these estimates should prove to be incor-
rect the duty of congress would be TO
reduce expenditures and make them
conform to actual revenue conditions and
not TO impose new and onerous taxes.
He did not refer specifically to any
proposition to impose an income tax, his
statement declaring that ample revenue
may be derived from other sources was
accepted as direct opposition to all such
propositions.
The net increase from customs over the
existing law, according t Ga statement
, furnished each senator was estimated at
81, $50, 74s for the Payne bill as passed by
the house. and S9,e3f,426 under the bill as
reported from the senate committee.
Senator Aldrich's Speech
Mr.. Aldrich said in part:
'"The practical question to which l ask
your attention today is, will the bill as
reported from the committee on finance,
produce sufficient revenue when taken in
connection with the internal revenue
taxes and other existing sources of reve-
nue. to meet the expenses of the govern
ment without the imposition of additional!
, taxesT I answer unhesitatingly after
thorough and careful investigation of the
facts and the conditions likely to surround
the problem, that it will"
Mr. Aldrich submitted statements show
ing the receipts. disbursements, SURPRISES
and deficits, actual and estimated, of the
treasury for the fiscal years 1900 to J911,
inclusive. His estimates for the fiscal
years 1909 to 1911, inclusives were as fol-
lows:
Fiscal year Receipts. Disbursements surplus.
1909 y. seoSo27 go ss74.5oe $50 "a 1855, 4e2. $50
1910 Z. e55 coo o09 700. 1000 tA) 45,000.oo0
1911 e. .. 6s5, 900 665 100000 80, 900
I'm these statements, both the receipts
and disbursements for the Panama canal
have been eliminated for obvious rea-
sons" said Mr.. Aldrich. 'It is the policy
Of congress (which 1 think has universal
approval, that payments for the canal and
its construction should not be made from
current revenues, but met by the sale of
bonds.
1.-The figures I submit include all re-
ceipts and disbursements except those of
the postoffice department and the Pana-
ma canal, but the postal deficiencies are
included in all cases in the disbursements.
THE statement consists of the actual
official figures of receipts and disburse-
ments for the years 1900 to 1905 inclusive,
and shows that in these years the act of
1877 (existing law produced a surplus of
$f2s. 656, 221, and average yearly surplus Of
S47 62S, 469. The statement commences with
the year 1900 The Spanish war followed
the enactment of the act of 1897 and the
revenues and expenses of the government
did not reach normal conditions until the
year 1900"
Data of Treasury Expert
Mr.. Aldrich explainde that he arrived
at his estimates from data secured in
consultation with treasury experts.
Taking the present fiscal year for ex-
animation first, we have the actual fig
ures for nine and one-half months which
are: Receipts, $3.50 S7S; disbursements,
s5SS, ss6S15, showing a deficit of $50, 943,-
942, he continued. Il have taken the
disbursements of S533 9s6.S15 for nine and
one-half months and estimated those for
the succeeding two and one-half months
on the same basis, reaching the result
of s674,5 $50.
THE customs receipts for the remain
ing two and one-half months of the year
1909 will probably be collected under the
terms of existing law.
In making the estimates of receipts
of the year 1909 the actual receipts and
hASbuA AOl AiiG AiISl AlAilC anu Ouo-
half months being available. the figures
for the remaining two and one-half
months are based on these ascertained
results and indicat receipts for the year
of $6O5, 047 go. The figures which must
be very nearly accurate, show an esti-
mated deficit at the end of the year of
SIS, 462, 45O
For the year 1910 the appropriations
have already been made and the amount
which will be expended can be foretold
with approximate accuracy.
I'm making the estimate for these ex-
penditures. 1 have taken the gross APP
preparations for the year. $1,04400O, 900,
and deducted the appropriations for the
postoffice department $2S5. 100000 the
sinking fund. S6O.OOO.O 900; the national bank
fund. $780, OO0. O00, and Panama canal ex-
peness, &S7, 100000 and have added the Of
fetal estimate for the postal deficiency
for the year. $4,000 900, showing a proba-
BILE total of expenditures of S7OO.OOO, 900.
Effect of Pending Bill
IF the pending bill should become
law before the 3Oth of June, next the
customs revenues for the entire fiscal
year OF 1910 would be collected under it's
provisiaos, and the probable results con-
stitute the crucial point in our investiga-
tions.
For the purpose of ascertaining the
relative revenue producing qualities of the
senate bill and the act of 1897, the COM
mittee on finance. has had prepared a
statement, which is laid before the sem
ate this morning. 1t applies the rates
Of the senate bill 20 the importations Of
1907. in other words, it shows the reve-
nue. that would have been derived upon
the importations made in 1907 IL the SEN
ate bin had been in force during that
year
we have selected the year 1907 for the
comparison. as this was the last year on
which the finances and business of the