The Birmingham age-herald., 1914-07-02
FISCAL YEAR ENDS
 WITH SURPLUS OF
 $33,784,452.O7
Yesterdays Treasury Re- ceipts Send Total a Million and Half Above the
 Estimate

Washington. July 1.-Treasury figures completed tonight show the federal gov ernment went through It's first fiscal year under the Wilson administration with its income exceeding ordinary ex- penses by ssS. 7s4. .4Se.o7 Nearly sss.5oo.oeo pouring into the treasury yesterday, the last day, brought the total receipts for the year up to s7sf.s4s TOO 20. s1.5oo,Oo0 above Secretary McAdoo's original estimate, and turned into surplus what had prom ised the day before to be substantial deficit.
 Corporation and income tax payments furnished the stream of gold at the finish. From this source came s26. Isl. lss.s2 be- tween the opening and closing of the treasury yesterday. and tonight Secretary McAdoo and other administration officials were pointing to the total figures as proof of their promises as to what would be accomplished under the new tariff.
 Wipe Out Surplus The treasury surplus this year. will be , wiped out by Panama canal expenditures. which has been paid from the general fund. During the 12 months ssi,s26,9H has be spent on the canal and when this has been charged off there will be a deficit for the year of s1,01o,o5s.s1 on the books. Last year the canal expenditures amount ed to $41, TAI. 25s and the final deficit was $4oo,7 73s. Last years total receipts were only $69i, ,1i0,0Oo. but on the other hand the ordinary expenditures were 1000 or $75574,24S below this years total Secre- tary McAdory estimates that approxi-
 mately SoOo,ooo in scheduled income and l corporation taxes, assessments not paid in June because penalty does not | accrue against these assessments until Julyf10, would have been a clear surplus for the year of approximately S25o0.00o The secretary sent teegrams of con graduation to President Wilson, Repre- | sentative Underwood chairman of tho House ways and means committed and to Senator Simmons, chairman of the finance committee of the Senate upon the | result under the new tariff law Later 1 he issued a statement saying. The department Is Exceedingly gratified with the results for the first fiscal year Of the new tariff and income tax law lnquestionably very much better results will be obtained during the present fiscal year"
 Figures Announced The following figures were announced for the year subject 10 revision on analysis of complete returns. Customs receipts, S292, ,12S, ,52763 Internal revenue ordinary, s3DS sls, ,si3. Is. Corporation excise and income tax, $i3,- | 079,s19.44
 | Individual income tax BPS, ,S06 s3G. 60. | Miscellaneous receipts, s62. .2l5.172n Cn- cluding $S,S00,oo0 surplus of postal reve- nues for the fiscal year 19l3) 1 Total ordinary receipts. $7S4, ,3is, TOO. 20
 Total ordinary disbursements, s7oo 55s,- 24S.1s.
 Surplus of ordinary receipts. s3s, ,7s4, . | 452.o7.
 l Comparative statements of receipts and disbursements for the last three fiscal l years:
 1912: Receipts. $691 ITS, 465; disburse- ments, S6S4.553.96s; surplus $37. 224, ,5o1: Pan anna canal s35S27,S70; surplus, s1,S97,131.
 1918; Receipts, S72t ,22g disburse- ments, 6s2,75o.7o5 surplus. sH, 524;
 Panama canal sH.741. .25S; deficit, s4oo, ,73s
 1914; Receipts, s734, 43.7O0: disburse- ments, Soo. .55s 24s surplus, $33, ,7s4, 452; Pan- anna canal, s54,s269i1 deficit si,o1oo5s.