Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-04-26
NATIONS FINANCES IN POOR
CONDITION UNDER DEMO.
CRATIC RULE.
NEW WAR TAX FAILS
TO MAKE ENDS MEET
Deficit at End Of Year Will Be at Least
$6o,o0o,oo0 and May Reach $75,0oo,ooo
Bond Issue May Be Necessary to
Meet Emergency - Public Buildings
Being Held Up.
Especial Correspondence.l

Washington, April 26.-With little
more than two months left until the
current fiscal year ends, the daily
treasury figures are compelling closer
and closer attention from those who
are concerned over the subject Of the
deficit which will have to be faced al
the end of June.
1t is impossible as yet to make any
thing like an accurate forecast OF Inc
deficit because the amount Of the IN
come tax collections which will come
in between now and June 80 is profile
NAUTICAL However, the present figures
of receipts and disbursement indicate
that Uncle Sam will experience a big
gap in his pockets when the fiscal year
comes to a close. This is so obvious
that there has been talk in some quar-
tiers about an issue of Panama bonds,
but the treasury department has denied
that 1T contemplated such an issue and
it is probable that if any is to come
it is still some distance ahead.
Fears Effect Of Bond Issue.
Having imposed war tax on the
ls,s
unwilling to resort to a bond issue
unless it has to do SO and it is not yet
in such an extremity as to make sale
OF bonds really necessary, tho the net
balance in the general funds is down
to the low figure Of $25,Oo0,000 in round
numbers.
Deficit Grows by Leaks.
What is usually referred to as the
deficit in the treasury stands in round
numbers today at s121.00o,000, as
against $5s,0OO.OoO on the correspond
ing date last year. This is the net ex-
cess Of all disbursements over all re-
ceipts 1t is inclusive OF the dis
bursements on account of the Panama
canal. II the disbursements on ac-
count Of the canal are omitted, the de-
felt stands at about $99.000,00O. Ma
turally, such disbursements are omitted
on the part of those seeking to put
the best front on the treasury stu
alton, but as q matter of fact in re-
cent years in talking about treasury
deficits it has been the common prac-
tice to include Panama canal figures in
the reckoning.
Revenues Decreasing.
Receipts to date are about s39. 900, 600
lower than they were at the corre-
spending date q year. ago, The Gus
toms receipts have fallen Off about
100000 The drop in customs mas
been partially made up by increases IN
internal revenue and miscellaneous re-
ceipts, due largely to the war tax.
The treasury figures continue to tell
the story of increased extravagance IN
expenditures by congress and the gov
eminent II expenditures had been
held down rightly, the treasury would
now be in fairly good shape, or. at least,
in much better shape than 1t is. The
expenditures by the treasury thus FAR
in the fiscal year have been about
$4,000, 900 heavier than in the same Pc
rod the year preceding. And every
body knows that there was no marked
exhibition of economy in the year pre-
ceding Also, it is well-known, the
treasury is holding back expenditures
all it can in order to minimize the de-
felt as far as possible. This Is illus
trated in the policy of delaying public
building projects, delay that is caus-
ing outcry from members of congress
Judging by the present treasury con-
ditions as to receipts and disbdrse'
ments and allowing for heavy income
tax returns in June, 1t is not easy nov
| to see how the deficit at the end OF the
! fiscal year can fall below $60.000,Oot
and it may easily mount as high a.
! SIS, 100000 This with the war tax II
effect to the contrary notwithstanding
ID q