Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1911-08-16
IN STRONG POSITION
UNITED STATES IS STARTING
NEW FISCAL YEAR WELL.
Gratifying Surplus In Treasury, Due
to Wise Administration by Repub-
Iican OfficiaIs-Postmaste
eraI Hitchcock Praised.

AS a nation we are now living I'm
the fiscal year OF 1912. 1t began July
l. IL is gratifying to learn, through
the treasury accounts covering 1911
which may be subject to slight change
that we started the new year under
very favorable circumstances. with a
surplus OF $45.6S1 500. and an excess
OF S31.305. 923 over all disbursements.
including the Panama canal and pub
lie debt transactions
With the more than $50.000,000 re-
cefved from the Panama bond sales
the government starts in with almost
SS5.000.000 surplus. y II is expected
that the Panama canal drain will be
about SAC. 100000 during the year. The
showing Is particularly favorable
when the fact is considered that In
1908 and 1903 there were deficits of
S20.0Oo.00o and SIS. 900, 900. respective
ly. In 1907 there was a surplus OF
$111 100000 and last year $4,000, 900.
The government has paid out OF ordi-
nary revenues more than 100000. 900
on the Panama canal undertaking, for
which 1t Is entitled to reimbursement,
but this collection Is not to be pushed
One OF the most favorable showings
In balancing the books for 1911 was
made by the postal departm ent, which,
Tor the third time in sixty years and
the first time since 1888, had an ex-
cess OF receipts over expenditures.
The deficit of $17,50O,O00 of less than
two years ago has been wiped out by
Postmaster General Hitchcock, who
shows a surplus of approximately
Sl.5O0.000 for his department This
II is asserted has been done without
impairing service. for two thousand
more rural routes and three thousand
new postofiices have been opened and
salaries show an increase of 1900
200 over two years ago
During the year the treasury col
iected more than ~$70O. 000,0O0 OF
which 1922, 500 900 came from internal
revenue-the largest amount ever col
lected from that source-and 1913. 60O,-
900 from customs. Brief reports from
Washington indicate that the govern
ment received a little more revenue
than its estimated income and spent
little less than 1t had planned.
The improved showing is in part
attributable to the new system of ac-
counting and administrative manage
ment In the departments This OF
course falls short or scientific
budget plan. but II has put an end to
the lack OF any system that has re-
suited In pay roll padding and an easy
manner in handling the cash Con-
siderable systematizing has been ac-
complished and many abuses stopped.
In line with this. Postmaster General
Hitchcock (who has been rather ex-
travagant in fixing up his ofhce). now
proposes to try TO make n saving Of
39.0OO.000 year on contracts with the
railroads. He insists that the govern
ment is paying that much more than
fair rates. and the revelation that the
railroads are carrying express at
three-fourths OF "A cent pound and
charging the government four cents
for the same transportation indicates
that be Ii on the right road.
We also start into the new year
with better position as trading ma
ton. The balance Is running strong
In our favor. our imports being less
and oursexports heavier. And on top
Of IL all. another bumper crop is com
'ng on