The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-12-14


establishment and rapid development
or an American merchant marine, the
restoration Of the American tiag 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
$3.50. O.494.O13.12. This Is S52,064 .S87. SO
less than the appropriat for the
fiscal year ending June 80. 1911. 1t is
$16.SS3. 1894 less than the total esti-
mates. including supplemental esti-
mates submitted to congress by the
treasury for the year 1911. and Is So
o14,659.39 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 $685.
100000, an increase of $2O,OOO.OOO
over the amount appropriated for this
year. difference due to the fact that
the estimates Tor 1912 include some.
thing over S19.OO0.00O for the fortitica-
ton Of the canal.
Against the estimates OF expendl-
lures. $500. .494.O13.12. we have esti-
mated receipts for next year $780,
100000, making a probable surplus Of
ordinary receipts over ordinary ex-
penditures Of about $5O.OOOOOO, or
taking into account the estimates for
the Panama canal. which are S56.92O.-
S47.69 and which will ultimately be
paid In bonds. Ii will leave a deficit
for the next year Of about $1,000. 900
IL congress shall conclude to fortify the
canal The cost of the Notifications
Is about $19,0OO,OOO. Should there be
no appropriations this year for fortih-
cations then there would be. even in
Guiding the Panama canal appropria-
ton. surplus Of about $12.OOO.OOO.
1t Is not essential to the preventing
or 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
have been asked for those whose con-
unuance Is unnecessary, and this
years estimate OF expenses Is 1926. 600
less than two years ago.
In The bureau OF engraving and
printing great economies have been
enected. Useless divisions have been
abolished, with the result Of saving
S4400OO 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.
lures are disbursed this seems q
proper place to consider the operation
OF the existing tariff bill. which be.
came law Aug. 6. 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 bust.
ness corporation In the country, has
worked we'll The tax has been easily
collected. Its prompt payment indl.
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
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 d.
rected the issue Of tho 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 90 listed or offered for
sale are directed to be open to the In
spection and examination. Of creditors
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