The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1910-07-28
TREASURY
SHOWS A
BIG SURPLUS
OUTLOOK FOR FINANCIAL
CONDITION OF NATION
AT PRESENT is EN-
COURAGING.
Thanks to the New Tariff Law
and Corporation Tax Impos-
ed by Republican Leg
islation.

eeHi III "oN anu llIC tdN Oll NOlpOl-
atoms imposed by Republican
legislation, the treasury entered
the new fiscal year with a sur
plus OF $9,402, 1926. A year
ago at the beginning of the fiscal
year, Secretary MacVeagh was
confronted with deficit OF $685.
$4,000. The estimates made
last year before the new tariff
law was enacted contemplated
deficit of $34,015,000.
In a statement issued at the
close of business today it is
stated that the transactions for
the first quarter of the fiscal year
appeared to verify the accuracy
of the estimated deficiency, al
though there had been notice
able increase in receipts, on &C
count of the customs, most of
which probably attributable to
heavier imports OF goods, upon
which the duties were to be in
creased under the operation OF
the new tariff, for the long dis
cuSsion preceding the enactment
OF the recent law afforded ample
opportunity to anticipate where
increased duties were to be laid.
Increase in Revenues.
Despite the fact OF increased
imports in the last months OF the
preceding fiscal year in anticipa-
non OF the passage OF the new
tariff, and despite the general de-
cline in business activities during
the fiscal year just closed pro-
duced revenues amounted to
S32 ,013,390 more than those OF
the preceding fiscal year.
Receipts from ordinary inter
nal revenue taxes show an in
crease OF $2i, 610,372 over those
Of the preceding year. Returns
from the corporation tax furnish
an additional amounting to $17,-
362,S15. While there was a de-
crease in receipts coming from
miscellaneous sources amounting
to S., 100000, the net increase OF
receipts for 1910 amounting to
S65, 415, 292.
Although the ordinary dis
bMsements for the current year
were estimated at a total amount
OF $685., 015,620 the actual dis
Dursements have fallen short by
1924, HI i'll the preceding
year.
The accounts of the war de-
partment and the postal def
cheney each show a reduction OF
SS,000,000 in actual expenditures
below the estimates. The civil
and miscellaneous disbursements
fail S3,000.000 short of the esti-
mates and all of the other CLASH
cations OF disbursements .all
short of the estimates, except the
disbursements on account OF In
dams which show an increase of
about $1,000,000.
Postal Decrease Shown
As compared with previous
years the principal decrease in
disbursements is shown in the
postal deficiency, amounting to
ST, 100000. The expenditures
for the navy show the largest in
crease, amounting to $S,000,0O0
While the ordinary receipts of
the government have increased
$4,000, 900.
During the fiscal year the
treasury has advanced from its
general funds $33,911,6 13.37, to
he used in the construction of the
Panama canal. This amount
will eventually be returned to the
general fund from the proceeds
OF bonds to be sold on Panama
canal account now due to the
treasury $116,7S6,147.
The net result of the years
transactions are much more ia
vorable than many had expected.
Through the inclusion OF near
ly $34, 100000 expended in behalf
of the Panama canal, for which
the treasury will eventually be
reimbursed, the. total balance for
the year, shows, however, a de-
fcitt of $25,SS4,644, but this
should be compared. however,
with the total deficit for 1909.