Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-07-03
u. S. HAD $33, 7S5,452.O7
MORE THAN WAS NEEDED
TREASURY DEPARTMENT FIGURES
SHOW THAT GOVERNMENT WENT
THROUGH FIRST FISCAL YEAR
WITH GOOD SHOWING.
NEARLY $3.500.0O0 POURED INTO
TREASURY ON LAST DAY OF FlS-
CAL YEAR. BRINGING RECEIPTS TO
MORE THAN M'AD00'S ESTIMATES.

Washington. u. g.. july a.-Treasury
Figures completed last night shows the fed
eral government went through H. first fis-
cal year under the Wilson administration
with H. income exceeding ordinary ex-
penseS. Nearly $4,000. 900 pouring into
the treasury department the last day,
brought the total receipts for the year up
To 49,. 34s. zoo. 20. II .50O. 900 above Secre-
tary McAdoo's original estimate, and
turned into n surplus what had promised
the day before 90 be a substantial deficit.
Corporations and income tax payments
furnished the stream of gold al the finish.
From this source came $40. l5l 1872, be-
tween the opening and closing Of the treas
ury yesterday. and tonight Secretary Ne
AdOo and other administration officials
were pointing 20 the total figures ~ proof
Of their promises n "a what would be- ac-
complished under the new tariff.
The treasury surplus this year will be
wiped out by Panama canal expenditures
which have been paid from the general
fund. During the twelve months $34,S26.-
94l has been spent ON the canal and when
il has been charged off there will be 4
deficit for the year of ~ .0lO,05l.1S ON
the year. Last year canal expenditures
amounted TO S4l al ,25s and the final de-
ficit was $500. 1873. Last years total re-
ceipts were only S69l .l4O.U0O. but ON the
other hand the ordinary expenditures were
only 1854, sos 900. or $45. 4,24S below
this years total.
Secretary McAdoO estimates that ap-
proximately $1,000. 600 IN scheduled in
come and corporation taxes, assessments
not paid in June because the penalty does
not accrue against these assessments until
July 10, would have been q clear surplus
for the year of approximately $1,000, 600.
The secretary sent kilograms of con
gratulations TO President Wilson, Repre-
sentative Underwood. chairman of the
House ways and means committee. and To
Senator Simmons, chairman of the finance
committee of the Senate. upon the result
Of the new tariff law. Later he issued q
statement, saying:
'The department l. exceedingly gratitied
with the results for the first fiscal year 81
the new tariff and income tax laws. Tn
q~uestionably very much better results will
bt uDtuiUtu OuFiiE int Iff~tHA li~fdl war.
The following figures were announced
for the year. subject To revision On
analysis of complete returns.
Customs receipts. 500, l2S.52= 60.
Internal revenue, ordinary. S3Os.6l3.-
S43. 10, corporation, excise and income tax.
$43,O79,s19.44.
Individual income tax, $2s. 3Oo. 1860.
Miscellaneous receipts. S62.2l5.l721l.
(including $4,000. 600 surplus Of postal
revenues for the fiscal year 1879
Total ordinary receipts. 1874. 3i3. 10000.
Total ordinary disbursements. $780,
559,24s.13.
Surplus Of ordinary receipts. 1913. ISL
452.07.
Comparative statements ~ receipts and
disbursements for the last three fiscal
years:
19l2-Receipts, $69l .71s. lGj: di~bur~e
ments, $654. 553,963: surplus. S37. 23l.5Ol /:
Panama canal, $35. 327 $40; surplus 81.
s97,l3l.
l9l3-Receipts. s73i.lll .229. di~bur~e-
ments, 1852, 40. 7O5: surplus. S4l .3lO.524;
Panama canal, S4l.74l .25s; deficit, $780,
733.
l9li-ReceiptS, S73l.3l3.0O0. di~bur~e-
ments, s700.55a .2ls; surplus. 1913. 7Sl.l52;
Panama canal, S%3i,s36.94l. deticii. ~
O1O,05S.