The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1910-12-07

OF n measure by mail subsidy or other
subvention adequate to guarantee the
establishment and rapid development
of an American merchant marine, the
restoration of the American flag to its
ancient place upon the seas.
Estimates For Next Years Expenses.
The final estimates for the year end.
ing June 30, 1912, as they have been
sent to the treasury on Nov. 20 of this
year for the ordinary expenses of the
government, including those for pub.
lie buildings, rivers and harbors and
the navy building program, amount to
| $G30,494,0l3.12 This is 1904, ,SS7 SO
less than the appropriations for the
fiscal year ending June 80, 1911. 1t is
S1G,SS3, 1874 less than the total esti.
mates, including supplemental esti.
mates submitted TO congress by the
treasury for the year 1911, and is So
5Il,G50.39 less than the original esti-
mates submitted by the treasury for
1911.
These figures do not include the ap-
preparations for the Panama canal, the
policy in respect to which ought to be
and is to spend as much each year as
can be economically and effectively ex-
pended in order to complete the canal
as promptly as possible, and there
fore the ordinary motive for cutting
down the expense of the government
does not apply to appropriations for
this purpose 1t will be noted that the
estimates for the Panama canal for
the ensuing year are more than $5G,-
100000, an increase of S20,000,000
over the amount appropriated for this
year. Il difference due to the fact that
the estimates for 1912 include some
thing over S10,000,0OO for the fortiflca-
ton Of the canal.
Against the estimates of expendi-
lures, $G30.40401312. we have esti-
mated receipts for next year $780,
0CO,GOO, making probable surplus of
ordinary receipts over ordinary eX-
penditures of about $J0,000000, or,
taking into account the estimates for
the Panama canal. which are $56,920,-
S41,69 and which will ultimately be
paid in bonds, 1t will leave a deficit
for the next year of about $7,000,000
If congress shall conclude TO fortify the
canal. The cost of the Notifications
is about $l0,OO0O00. Should there be
no appropriations this year for fortifi-
cations then there would be, even in
Guiding the Panama canal approprla-
ton, II surplus of about $12,000,000.
1t is not essential to the preventing
of smuggling that customs districts
should be increased in number The
violation of the customs laws can be
quite as easily prevented and much
more economically by the revenue cut
| ter service and by the use of the spe-
cial agent travelling force of the treas
ury department.
Very great Improvements have been
made in respect to the mints and as
say offices. Diminished appropriations
tinuance is unnecessary, and this
years estimate of expenses is $326,000
less than two years ago.
In the bureau of engraving and
printing great economies have been
effected. Useless divisions have been
abolished, with the result of saving
$H0,000 this year in the total eX-
penses of the bureau despite increased
business.
Revenues.
AS the treasury department Is the
one through which the income of the
government is collected and its expend-
itures are disbursed this seems q
proper place to consider the operation
of the existing tariff bill. which be-
came law Aug. G, 1909. AS an in
come producing measure the existing
tariff bill has never been exceeded by
any customs bill in the history of the
country.
The corporation excise tax, proper
toned TO the net income of every busi-
ness corporation in the country, has
worked well. The tax has been easily
collected. Its prompt payment indi-
Gates that the incidence of the tax has
not been heavy. 1t offers, moreover
an opportunity for knowledge by the
government of the general condition
and business of all corporations, and
that means by far the most important
part of the business of the country. In
the original act provision was made
for the publication of returns. This
provision was subsequently amended
by congress and the matter left to the
regulation of the president have di-
rected the issue of the needed regula
tiOns and have made it possible for the
public generally to know from an eX-
animation of the record the returns of
all corporations the stock of which is
listed on any public stock exchange or
is offered for sale to the general pub
lie by advertisement or otherwise. The
returns of those corporations whose
stock is not so listed or offered for
sale are directed to be open to the in
spection and examination of creditors
and stockholders Of the corporation
whose record is sought. The returns
of all corporations are subject to the
inspection of any government officer or
to the examination of any court, in
which the return made by the corpora
tion is relevant and competent evl-
dence.
The Payne Tariff Act.
The schedules of the rates of duty