The Bridgeport evening farmer., 1914-08-06
U. s. TREASURY STRONG UNDER
 WILSON'S RULE
Ry c. H. Tavenner. }


 Washington, Aug. 6.-The foufish- ing condition of the United States treasury after one year of Democratic rule and after nearly a year of Demo cratic tariff sent dismay-. into the hearts of Republicans who had been predicting a. treasury disas ster and who hoped there would be one for the sake of their campaign arguments this fall.
 But Secretary McAdoo in his annual report on the condition of the treas ury showed a. state of affairs entirely the reverse of that which the Repub- icane expected. These Republican or ators in the House and Senate had been picking out single months dur ing the past year and attempting to show by the fiscal statistics of these individual months what conditions. would be at the end of a year
 Democrats attempted to warn these Republican f1gurers that they were treaddng on dangerous ground, since there can be great variations in treas uryl figures from one year to another in the same months Of these years. and yet not affect the. annual figures. The Republicans, however, ran b1ind1y into the trap by comparing, for in- stance, treasury receipts and disburse- ments for April of this year with April of last year, and then predict ing a deficit for the entire year.
 1nStSe11 OI tdA O6uc1l, there was a sur plus, and a good one. The receipts for the year exceeded the ordinary disbursements by $33,784, ,542.07 The receipts came within a million dollars Of paying every government expense. including the enormous Panama canal expenditures, which have always been an extraordinary expense paya ble from the general fund of the treasury. Secretary McAdoo was able to an snounce that the net balance. in the general fund on June 30 was $145, ,S35,- . 502.1O. a reduction Of about million l dollars from the net balance of a. year ago. /
 But even this million dollar reduc- ton, due as it was to expenditures for the construction of the Panama canal, would have been met, and a surplus of $2s 300, GOO added to the general fund, l except for an extraordinary incident The income tax law provided that 1 individuals and corporations should have ten days grace after the close Of the fiscal year in which to pay 1 their income and corporation taxes before penalties would be imposed. 1 This resulted in about $3, 100000 of l taxes srightfu1ly included in the 1915 1914 balance being held out from the l government after the close of the hs- cal year. All of this money was paid 1 in later, and it will about balance against taxes similarly held out next l year.
 But including this amount, those who framed the tariff bill estimated almost to the penny what the new revenue Laws would bring to the gov l ernment, Secretary tNTcAdoo, after | striking the treasury balance sent tel egrams of congratulations toN Presi- 1 dent Wilson, Chairman Underwood o1 the ways and means committee. and Chairman Simmons of the Senate finance committee.
 The Underwood tariff law is a suc- 1 cess as a revenue getter. It's opera tion has completely refuted the pre- dfctions of the Republican calamity 1 jhow1ers that the reduced duties would create a treasury deficit and necessi- l tate a government bond issue. The people are being given relief from the cost of living, and the difference in taxes Is made up to the government in taxes placed upon the incomes oi I the rich and well to do.
 1 CLYDE H. TAVEzN1I ER.