The Caucasian. (Clinton, N.C.) 188?-1913, 1910-12-08

Estimates for Next Years Exn~n...
The final estimates for the Yea
ending June 30. 1912. az they hav
oeen sent 10 the treasury on Soxar
Der 18th OF this year for the ord
nary expenses OF the Government,
including those for public building,
: rivers and harbors and the nav
building program, amount to sg3o
4s4,013.12. This Ii s52.sg4. q
less than the appropriations for tn
nscai year ending June 80. 1911 7
ID 1883, 1894 less than the .o.a
estimates. including supplemental g.
Inmates submitted TO Congress by tn.
treasury for the year ~Is1I. and 4
so'o14,659.3s less than the origfna
estimates submitted by the treasur,
for 1911.
These figures do not include I'll.
appropriations for the Panama Can.
al the policy in respect to which
ought to be and Is to spend as much
eacn year az can be economically and
effectively expended in order to com
plete the canal as promptly as posi-
| Die, and therefore the ordinary mo-
i've Tor cutting down the expense
OF the Government does not apply
10 appropriations for this purpose
IL VIII be noted that the estimates
ior the Panama Canal for the ensu-
ing year are more than $4,000 900.
an increase OF $2O,0OO,OOO over the
amount appropriated for this year
difference due to the fact that the
estimates for 1912 include some
thing over $19.0OO.O00 for the for
tlhcation of the canal.
Against the estimates of expendi-
lures, $63O,494, 013.12, we have es-
t1mated receipts for next year $500
ooo'ooo, making a probable surplus
or ordinary receipts over ordinary
expenditures of about $4,000. 900
or taking into account the estimates
Tor the Panama Canal, which are
Soo'920,847.69, and which will ulti-
mately be paid in bonds, it will leave
deficit for the next year of about
s1'OOO,OOO if Congress shall con-
clude to fortify the canal. The cost
OF the Notifications is about 3d.
100000. Should there be no appro-
priations this year for Notifications
then there would be, even including
the Panama Canal appropriation. a |
surplus of about 100000.
Very great improvements have
been made in respect to the minis
and assay Offices. Diminished an
preparations have been asked for
those whose continuance is unneces-
sary, and this years estimate of ex-
penses is $326,0O0 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
100000 this year in the total ex-
lenses Of the Bureau despite in
reased business.
Revenues. |;
AS the Treasury Department is
he one through which the income
I the Governments is collected and
Is expenditures are disbursed, this t
GEMS proper place to consider the
peration OF the existing tariff bill,
7hich became a law August 6, 1909.
IS an income producing measure the q
xisting tariff bill has never been ex- {
eeded by any customs bill in the
istory of the country.
The corporation excise tax, pro-
ortioned to the net income of every :
usiness corporation in the country, :,
as worked well. The tax has been =
aslly collected. Its prompt pay -
tent indicates that the incidence of -
lie tax has not been heavy. It of
RS, moreover, an opportunity for :
by the Government of the =
eneral condition and business of all =
and that means by far :,
lie most important part of the BUSH .
sss OF the country. III the original -
It provision was made for the pub :,
cation Of returns. This provision >,
as subsequently amended by Con-
ess and the matter left to the reg 9,
alton OF the President. I have di- =,
cted the issue of the needed regu- -
lions and have made it possible for ;.
9 public generally to know from =.
examination of the record the -
turns of all corporations the stock ~
which is listed on any public stock r.,
change or is offered for sale to the ~
neral public by advertisement or -
1erwise.
The Payne Tariff Act.
The schedules of the rates of duty
the Payne tariff act have been
Djected to great deal OF criticism
some of it just, more of it un
lnded, and too much misrepresen- :
ion. The act was adopted in pur
ance Of declaration by the part.
ich is responsible for it that
'toms bill should be a tariff 70
} protection of home industries
measure of the protection to b
difference between the cost
'ducing the imported articl