The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1910-12-08


$630,494,013.l2 This is $4,000. sS7. 80
less than the appropriations for tho
fiscal year ending June 80, 1911. 1t il
$lG,SS3, 1874 less than the total esti
mates. including supplemental esti,
mates submitted to congress by the
treasury for the year 1911. and Is S..
574.6J9.39 less than the original esti
mates submitted by the treasury fol
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 cana
as promptly as possible. and there.
fore the ordinary motive for cutting
down the expense of the government
does not apply to appropriations fol
this purpose. 1t will be noted that tho
estimates for the Panama canal for
the ensuing year are, more than $J6,,
100000, an increase of S20,0O0.0O
over the amount appropriated for this
year. difference due TO the fact that
the estimates for 1912 include some
thing over st9.0o0.000 for the fortifica.
ton Of the canal
Against the estimates of expendI.
lures. $3.50. f0i.o13.12. we have esti.
mated receipts for next year $780,
100000. making probable surplus OF
ordinary receipts over ordinary ex.
pendltures OF about SJ0.0O0DO0. or
taking. into account the estimates for
the Panama canal, which are SIC, 920,.
SLIGO and which will ultimately be
paid In bonds. II win leave a deficit
for the next year Of about SI.o0o.00C
IL congress shall conclude TO fortify the
canal. The cost Of the Notifications
/ is about S19.00o.000. Should there be-
no appropriations this year for FORTH
cations then there would be. even In,
GLIDING the Panama canal approprla.
ton. surplus Of about $I2.0Oo.000.
II Is not essential to the preventing
OF smuggling that customs districts
should be increased ia number. Tho
violation Of the customs laws can be
quite rs easily prevented and much
more economically By the revenue cut
ter service aud By the use Of the spe.
cial agent travelling force of the treas
ury department.
Very great improvements have been
made In respect 10 the minis and as
say Offices. Diminished appropriations
have been asked for those whose cor
tIuuance Is unnecessary. and this
years : cstinatc.of expenses. Is see. O0c
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
$4,000 this year In the total cx
penses Of the bureau despite increased
business.
Revenues.
As the treasury department is th,
one through which the income OF ID,
government Is collected and its cxpend
lures are dlsbursed this seems 4
proper place 10 Consider the operation
OF tie existing tari1f bill. which be
came a law Aug. @. 1909. As an IN
come producing measure the existing
tariff bill has never been exceeded by
any customs bill In the history OF th,
country.
The corporation excise tax. proper
toned TO the net Income Of every bust
ness corporation In the country. ha,
worked wen. The tax has been easily
collected. Its prompt payment iaii
catcs that the incidence of the tax hai
not heen heavy. II offers. moreover
an opportunity Tor knowledge by IN
government Of the general condition
and business Of al corporations. ans
that means By far the most importan
part Of the business Of the country. II
tho original net provision was mad
for the publication OF returns TIL
provision was subsequently amcadcs
By congress aud the matter LEFT 10, tn
regulation. Of the president. 4 have IL
recied the lssue OF the needed regula
tIons aud have made II possible for tn
public generally TO know from an OK
animation Of the record the returns o
all corporations the stock OF which 4
listed on any public stock exchange o
Is offered for sale 10 the general pub
lie By advertisement or otherwise. Th
returns of those corporations who's
stock Is not so listed or offered 10
sale are directed 10 be open TO the IN
spcction and examination Of creditor
and stockholders Of the corporation
whose record Il sought The return
Of MI corporations are subject TO th
inspection u any government officer o
10 the examination Of any court. i
which the return made by the corpora
ton II relevant and competent esl
dence.
The Payne Tariff Act.
The schedules n the rates OF tlsit,
IN the Payne tarIn act have been snt
iected to great deal of criticism
80 9uNs zoe
some Vf II Just more 81 ~ nnfoundct
and 20 much Misrepresentation. IN
act Was adopted IN pursuance OF
declaration BY The party which f. 70