Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-02-24

far into and across this prosperous
State. 1t comes to a stranger with
considerable surprise to find u city OF
$1,000 nine miles west of Jersey City,
go extended ia Its manufacturing indus
tries. SO solid In its invested capital.
when 1 accepted the invitation TO
come here l learned that l was to have
the pleasure of being a fellow guest
with my friend, Senator Lodge, and
that he Was 10 take up the question
of high prices, a question which has
occupied the attention OF all the peo-
pie and has invited investigation into
its causes OF the Congress of the United
States and some of the state Legisla-
lures. For my part OF the evening !
should like TO direct your attention TO
a more prosy subject. to the question
Of government expense and govern
n.ent revenues. and the possible como
niles, and what expenditures arc essen
tial at whatever burden OF taxation.
In the first place, II Should be said
that we have been so far from exhaust
ing the resources of national taxation
and federal revenues have been collect
ed so easily and in such an amount
that We have failed in the past to
adopt q budget system, which is prac-
tised IN every other civilized country.
BY q budget system / mean a refer
.ence OF proposed expenditures and TO-
ceipts 70 sornc one authority or tribu.
nal, which. after determining what the
revenues are TO be, must also deter
mine what the expenditures can be,
and make a budget without Il deficit.
In u legislative body, which pro-
vides the revenue and authorizes the
expenditures, time was when the com
nlittee o. ways ana means, on tine one
hand, determined the of the
government, or provided the laws for
raising them, and, on the other hand,
determined the appropriations and
measured tho expenditures. But for
mary years in our Congress tEAse furc-
items have been divided. Tho revenues
are provided by the ways ana means
coInnlnlittoe OF the House, and the
finance committee Of the Senate. and
submitted to their respective Houses,
while tho appropriations are made by
the appropriation committees of the
House and the Senate, and in too many
instances without apparent reference
70 the revenues eN'hicl, are TO be avail
abe 70 meet the appropriations.
Deficit MAJ. he Wiped Out.
1T mas 30 happened tnac IN many
years Of tho past Tho revenues have In
creased more rapidly tnan tho expendi-
lures, and there mas been a surplus.
During the life OF the Dingley bill,
winch carried us from 1896 10 1905, the
appropriations exceeded the expendi-
tures by ABOUT s25d, UOt, 900; but the sur
plus took place in the earlier years. SO
,aoo - ana,u uriole ~
80 '" - ., au n,N nf pippiias et-
wy, y, ue lAti's On y ue feVehuus
" tae sApenui-
$50 az at,iae.eu t's
sss,,." - Go.s.pss, ~ ti'at now d
pe.'uots w. " uno"h ulon ING
s,eV@'s '. spS t'sSs+ts % riSiNe q
oeeeee 'ne. -; py "" ne is
tsessse ia .Ae ss.iH'ates OF an ING
espss l''.0.,'s' ltsi, 10 ilhNc IN sslis
,neee " wy pfooape revenues una u
"a caicuiAtions sno" d aeHclt, 10 rec
oinhieno ICE isi@tlol toT Sdol'ioIai taxa
non OF the raising Oh money by bones
sumaciert 10 meet IT,
Inc caicuiation OF the secretary OF
inc treasury tor the present year
no~eo Una. the aehcit was llkely 70
- vv''VVo'eV' va 'eaPoe' W ofuiN"tS re-
eelpts ana expenditures am glad 70
Say .la' 'le operation OF inc new taritf
oli mas peeh 30 mpcn more productive
rent year il ile,y ia be cons,dArob Iy
reduced. In addition, however, to the
ordinary defcit, we have to add the
Panama Canal expenditure for immedl-
ate provision Of s3S, 500, GOO: or what was
estimated to be q total deficit of So
900, 900 is now reduced considerable by
the better rates under the present
tariff bill.
by meeting the expenditures ON the
Panama Canal with the proceeds OF
bond issues. wc have enough cash I'm
the treasury to meet the deficit in our
ordinary pen for the current wear.
and II we meet the expenditures on the
Panama Canal for the following wear
we shall have a surplus Of $35, Ooo, 600:
or. il the revenue producing capacity of
the new tariff keeps up TO its present
indications, this surplus NAV be In
creased to $50, ooo,o 900. ON the other
hand. if the Cionsress PROPOSES 10 o,ld
to the expenditures OF the government
over those estimated for. for new on.
terprises IN the river and harhor biIl
and for the construction Of FEEDER,
49, -" LTEI ET-