Putnam patriot., 1910-12-09

Elaftes. iIsalusilng supleneptal .eSsi-
alaies submitted 10 esa,-ress ~ ~.
Treasury fer fae year 1911. and Is s.
1s4s-5as9 .ass iaan lie orisisraf ,,sts-
mates submitted by tire treasury fez
1871. -
These figures Go not include TIE an.
preparations FOR the Panama canal. the
policy n respect to which ought to be
AID + to spend - much each year as
can be economically and effectively ex-
pended In order To complete the canal
as promptly as possible. and there
Tore the ordinary motive for cutting
DOWN the expense Of the government
does not apply to appropriations for
this purpose. IL will be noted that the
estimates for the Panama canal for
the ensuing year are more than SD
100000. an increase of Sauee soo
over the amount appropriated for this
year, difference due TO the fact that
the estimates for 1912 include some
thing over Sl9.0oo.0oo for the fortifica-
ton of the canal
Against the estimates of .expendi.
lures. StSso.494.ol3 Il. we have esti.
mated receipts for next year $685.
We,ueo, making a probable surplus Of
ordinary receipts over ordinary ex-
penditnres OF about S5o0oo.0oo. or.
taxing into account the estimates for
the Panama canal which are sci $50.
Nj AMI MI iah ,.H+ n.
paid in bonds. II will leave deficit
Tor the next Year Of about Ss.eoa.eO0
| II congress shall conclude 10 fertIfy the
canal The cost of the Notifications
IS about sla.ts0ee0 Should there be
no appropriations this year fer FORTH
cations then there would be. even In.
Guiding The Panama canal approprla-
ten. a surplus OF about Sla.Ooo.0Oo.
Il Is lot essential to the preventing
of smuggling that customs districts
sheuld be increased in number. The
violation of the customs laws can be
quite as easily prevented and much
mare economically by the revenue cut.
Ter service and by the use Of the spe.
eial agent travelling force of the treas
ary department.
Very great improvements have been
| made in respect 10 the mints and as
say ofiiceS Diminished appropriations
| have been. asked for these whose con
tinuanee IS unnecessary, and this
years estimate OF expenses is SS26. 900
less thaa Two years ago.
IN The bureau Of engraving and
printing great economies have been
effected. Useless divisions have been
abolished alth the result Of saving
S4toeo0 this year in the total ex
penses Of the bureau despite Increased
business.
Revenues.
As the treasury department is the
one through which the income of the
government is collected and its expend-
| lures are disbursed this seems a
| proper place TO consider the operation
Of the existing tariff bill. which be.
came a law Aug Il, 1909 As an in
come producing measure the existing
| tariff bill has never been exceeded by
| any customs bill in the history of the
country.
| The corporation excise tax. proper
toned TO the net income of every bust,
ness corporation in the country. has
| worked we'll The tax has been easily
| collected. Its prompt payment iudi-
| Gates that the Incidence of the tax has
| not been heavy. 1t offers, moreover,
an opportunity for knowledge by the
| government of the general condition
| and business of all corporations. and
that means by far the most important
| part of the business OF the country. In
| the original act provision was made
| for the publication of returns. This
| provision was subsequently, amended
| byfeongress ard the matter left 10 the
| regulation Of the president. ! have di-
! reeted the issue of the needed regula'
| lions and have made il possible for the
irpnblic generally to know from nm exi
| animation Of the record the returns OF
sall ,corpora,s5fs the stock of which Is
| listed on any public stock exchange or
~ offered for sale to the general pub
| lie hy advertisement or otherwise. The
| returns of those corpora lions who's.
| sfesk is not SO listed or offered for
| sale are directed TO be open to the In
| speetion ann ,eAaminatiou of creditors
/ anfs Stockholders of the corporaiion
| whose record Is sought. Yhe returns
| VI ali iaorporafiras are subject to the
| inspection Of any government officer or
70 fhe examination OF any court. In
| whmh.tne return gsade by fi,e corpora
| Ion is relevant and competent evil
| denae.
| The Payne Tariff Act.
| The schedules OF athe rates ef cufy
| IN the Payne tariff act have been sub
jected to a great deal Of efstietsm.
| some q IL Just. more of II uRfennded-
| and 10 nue.. Misrepresentation The
aft was adopted III pursuance OF q
] declaration by the parry which As re
! Su,nSihie for n that customs oil
| zsloiild hse a tariff for the protet-'ion
NJ ha.ne Industries. the measure Of tlse
| ,rofecfio7j 10 be the difference between
he cost II producing The imported a.
,s@,e abroad md me cost q prodnelttk
Il af home. tagethrr with such add
len 70 that digereHce rs might give
reasonable protit so the home pro
Queer
The basis for the criticism OF ms
tariff 4 that in rsspeef to snnbei
of rfe selseduies tie deiar'sd iaesstirs
MAS nof followed. bet a tsisileF aciiis-f
-, r.s-, aed or Inserted iiy wa9 Of
nt.stle dis filaiaaiioa "a L ser 81 ses
.se. fna,sfr,es aad manufactures.
yItfle. II any. Of III. en- 'i,iL ~ ~
.@rv has ben directed af.a ii,''f 10