Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-11-02
DEFICIT FOR MONTH
Government Finances Take
Drop During October.
EXPERTS ARE SURPRISED
Amount On the Wrong Side of the
Ledger Is $5,2s5,0S3.
TOTAL FOR YEAR, $21 ,000, 900
twenty-five New National Banks.
MINIS Coin More Than
$14,OOO,Oo0.

The governments finances took a down.
ward twist during the last three days of
October and tricked the experts who had
been predicting a surplus for the month
and hoping for an even break at the
worst.
Exclusive Of the Panama canal charges,
the receipts for the month were sos. &c.,
Al and the expenditures were S5s.560,
| 1913, which left deficit In ordinary opera
tons Of s.. 2a3, Ss2. Add to that sum the
| months cost of the work on the canal
and $S,95,OS3 stands on the wrong side
| Of the ledger. The close of September
had shown a total surplus of more than
81, 10000 and it was the first time in the
present fiscal year that the government
took In more than 1t paid out
While the operations of the month bring
the total Treasury deficit for the fiscal
year to more than S21, 900. OOO-and the
close of September saw 1t down to $15,-
OOO, GOETHE situation is not considered un-
usual.
Spent $4,000, 600 On Canal.
Panama canal expenditures in October
show very nearly $780, 900. which brings
the sum spent this year to more than
$13 100000. as against $11,oO0,O0O at the
same time last year. Even though the
total deficit does stand at SCI 1000, 1t
was more than $37 100000 at the same
time last year, and in the difference
Treasury officials see reflected the econ
omy policy Of all the governments de-
partments The civil expenditures for
October were $780, 600 greater than in
September, and interest payments on the
public debt took another $3.OoOOO. 1T
can be seen that the deficit for the month
is easily accounted for by expenditures
out Of the ordinary.
Barring all unusual expenditures. such
as for the Panama canal and payments
on the public debt. the months opera
tions show deficit OF $13 100000. as
face Of growing receipts, which now total
more than 1925 100000 for this year.
Treasury officials affect to be satisfied
with the showing Of the month and ex-
pect gradual improvement from now on.
The balance in the general fund touch
ed little higher than $4,000, 600 today,
as against $9O,OO0.OOO October j. But
the working balance sticks close to $780,
remain anywhere near that figure there
need be no expectation of any new fnanc-
ing, unless something unexpected should
happen
Mr. Macveagh Satisfied.
Secretary Macveagh appears to be per-
fectly satisfied with the ability of the
Treasury to maintain itself until the COM
ing session Of Congress. and what may
happen then Is more or less of guess.
Mr.. MacVeagh Is not known to have
changed his position on the question Of
issuing Panama bonds before the circula-
ton tax is eQualized.
It Is considered very likely that deposits
in the postal savings banks may be con-
verted into bonds bearing ~ per cent
interest. The possibilities of revenue from
this source, however, depends on the
promptness with which the banks are es-
tablished in large numbers and the way
deposits come in.
twenty-five new national banks came
into existence in October, with total
capitalization of $2,jOO.O0O. The majority
were small banks, with capital of $4,000
or less The total national bank circula-
ton is now $724S74,3 OS an Increase of
about 81 LOCO coo over last month.
The minis have been busy throughout
the month coming more than 81, ZOO. CO.
Of which more than 100000 was in
gold.
The total cash In the Treasury at the
close of the months business was 81 1885,
673, go an increase OF about 100000.