Evening star., 1914-04-07
SAY THE REVENUE
WILL EQUAL NEEDS
Custom Experts Believe Re-
ceipts Will Be Millions
Above Estimates.
EXPECT NO DIMINUTI0N
OF GOVERNMENT FUNDS
Believe New Tariff Will Meet Re.
quirements. Even if Income Tax
Falls Below Estimates.

! The income tax could fall considerably :
short OF the estimated revenue of so7.-
WH.Hp for the year 1913-14. and vet pro-
vide the government with an income from
all sources equal to the receipts of s124.-
| 1l12D of the preceding year. The cSti-
mated value of the individual income tax,
Sa,onWO. for 1913-14 could shrink S1o.-
G@0oo, perhaps S1oUOo.OO0. on the basis
of receipts to date from other sources,
and not create a deficiency in revenues
These are the conclusions of persons who
have studied Treasury Department fig
ures.
The customs service estimated its
revenues for the year at S2io,po.H0- 1t
bids fair to better this sum by at least
S1O,HN.tHn The internal revenue bureau.
which figured on s312,psa1 from general
| impoSt. exclusive of the income tax, is
just about meeting this expectation From
sale of lands and miscellaneous sources.
estimated revenues of SI9.oO0.ooa. about
correspond with receipts to this date
| For the nine months ending April '. the
| deficiency in customs collections aSgre-
gate about S24,cO0.00o.. AS the estimates
for the current fiscal year are S4S.On.000
under the receipts of the preceding year.
there yet remains a further possible
shortage of S24UG0,NH before receipts for
the fiscal year would fall below esti-
mate. At least half this sum. it is ex-
pected will be saved to increase the Gus
toms revenues well above estimates.
Effect of Sugar Tariff.
But the shortage to date includes the
abnormal shortage for the month of
February of s999o.oo. due to the fact
that the new tariff on sugar was effec-
tive March 1. and to the failure of sugar
declarations throughout the month. This
was partially Offset by. the receipts for
March. when the shortage was only ST.
7s1.ooo The average monthly shortage
since the new tariff went into effect Octo-
| Der 5 has been about S4,G00,OOO.
| From July to October ]. when the
old tariff was effective. receipts fell off
owing to the prospective inauguration OF
| the new schedules, and there was a
negligible shortage of about 100000 in
customs receipts In October the re-
ceipts fell off only $4,000. because Of
| heavy declarations of importations held
| for the new tariff; in November the
shortage was 1857 600: in December. 81
| 9O6. 900, and in January. $5920,0O0.
| During April, May and June, the last
| quarter of the fiscal year, it Is expected
receipts will show shortage of not more
than s4.OOO.OOo, perhaps not much over
days of April the shortage reached
| $341 900, in the proportion of S.O0O.oU
| month. Receipts for Saturday. usually
small day. were, however, abnormally
| large. s945.0OO compared with an aver
age weekday record of $4,000.
Sugar declarations are responsible for
the reduced shortage of March and pros
pective reduction in the estimated snort
age for the last quarter. While 1t is
not expected that a lower rate of tarin
will make up the deficiency in receipts
from this source, it is explained that
large part of the shortage to date has
been oceasioned by the reduction IN
declaration of sugar withheld pending
ST fba sol
that receipts from now on will be more
than proportionately larger for some
months.
Margin Over Estimated Shortage.
Should the shortage for the last quar-
ter reach 100000 or $12,OOO,oO. II
would still leave a margin over the
estimated shortage of s14.OOO,000 or 49,
100000 representative OF revenue IN eA-
cess of estimates.
General internal revenues for the cur
rent fiscal year are about even with the
tremendous receipts of the preceding
year, when there was an excess OF rev
enues over the year before of more than
$16 OOO, 600. This was unexpected in every
way, it having been estimated that the
returns for 1928 would reach SS26OOO,-
600, whereas the aggregate was $44,Uoo,-
COO exclusive of the corporation tax
The estimated internal revenues for the
year 1894 from all sources is S4O7,-
600 COO, according to the figures of the
Secretary of the Treasury in his annual
report This, it was expected, would be
made up as follows: General imposts,
s312, 600: corporation exercise tax, 5000
600: income tax, corporations, $t3,OOOo,
and individuals, $54,OO0.OOO.
In the ordinary internal revenues for
the current year. up to March the
figures for April are not available
there has been decrease of about 81
900 900 in revenues from spirits: the
previous year. This has been offset by
increase in revenues from fermented
liquors and tobacco, principally Tor
beer and cigarettes. Small increases
rections about balance, with a small
showing In favor of increased receipts.
Receipts Of Last Fiscal Year.
Receipts for the last fiscal year. ex
elusive Of the corporation tax. were
s311 100000. The internal revenue bu-
reau is confident that it will reach that
mark and also add at least the million
to- o't the estimated ss12.ooo 900 for the
current year.
Already the income tax has yielded
the better part of a million dollars in
need not. according to the law. have
been turned into the Treasury before
July l. Individuals have paid in $327,-
4S2O3. and corporations $521.7i6.40.
There are indications of some doubt
that the returns from the Individual in
come tax will meet the estimate of
s54 0OO, 900 in revenues for the current
year There is a note Of optimism to
offset this, in the hope and even ex
pectancy that the corporation tax will
exceed the expectation of $33.000.000
The corporation excise tax will take
care of itself. automatically, and about
return the $S.o00.000 estimated rev.
enues.
While all the returns on individual in
comes are supposed to be in the office Of
the income tax collection division Of the
internal revenue bureau. 1t is not yet
possible to figure out what the tax levy
will amount to. The certificates are not
even yet in shape to compile. There is
-