The Birmingham age-herald., 1915-07-02
$35, ,8o4, 381 DEFICIT IN US. TREASURY FOR
 PAST FISCAL YEAR
Enormous Reduction in Gus toms Revenues Results From War and Disburse- ments for Year Greater
 Than in Year Previous

Washington. July 1.-The second business year of the present adminis- tration, which closed yesterday, showed a x35, ,S64 1881 deficit compared with a surplus for the year ending June 30, 1914, of $34,41s,e77.
 Official explanations will not he is- sued until the figures for the year arc ahaIyzed by Secretary McAdco, hut on the face of the records it Is apparent that receipts were much smnller-nn enormous reduction in customs rev enues resulting from the war and that disbursements were much greater.
 Notwithstanding the deficit on the an actual net balance of ss2,025,716. With every prospect that this balance will be increased by possibly s1o,o0o,- 900 in the next 10 days. 1t is evident there will be no bond issue to replenish the coffers for many months to come, if at all.
 Customs receipts for the last fiscal year amounted to s20e, 6os.167,. about s11,00o, 900 under estimates made by Secretary McAdoo several months after the war began. and sS2,000,00o below the amount from this source in 1914 With the end of the war apparently re- mote many treasury officials are con vinced 1t will be necessary for Con
 
 which Is to become free next year Sugar has produced about S60000,000 revenue a year
 Income Tax Producer
 The income tax proved the big pro ducer the last 12 months. Total receipts up to the close of business last night were $79,S2S,675. of which s36,S03, 525 came in June 30. This Is more than $500, 900 above the total received from the tax last year and there remain 10 days in which 1t may be paid. Officials believe s6,0000,000 will roll in in that time. bringing the total s5.ooO,Ooo above the amount estimated.
 It was said tonight that the personal income tax proved surprise this year Last year it brought In only about s2S.000, ,O0o, but up to date this year it has produced more than $41.00o,0o0, and that probably will be augmented by several millions. A closer examina tion of returns and the evident inten- ton of officials to prosecute tax dodg CTS probably helped to swell this total as the number of taxables remained about the same The corporation in come tax apparently will be about the same as last years.
 Contrary to current reports, it now develops that the emergency tax law has proved a better revenue producer than expected. Despite this, however, internal revenue receipts for the year. s335,s2Ss77, were only about s27,00o,- 900 in excess of last years. One con tributing fact is that whisky is not paying the revenue 1t used to produce by some $16,000,000 or s20 900 a year.
 Department Runs Behind
 Another thing pointed out tonight by treasury officials was that the post office department usually self-sustain ing, has run behind this year and has received advances from the treasury amounting to more than $6,000, ,OO0 The treasury has paid out on account of the Panama canal during the year more than 29,000,0o0, which, though rein- bursible. is not likely to be reims bursed unless through bond issue for many years to come.
 Including the Panama canal expendi- lures, but deducting the amount ad vanced the postoffice, the account shows a net excess of all disbursements for the year over all receipts of about $57. .500, poo.
 Total expenditures for the year were s731,52T572, compared with s70o.55a.- : PAS last year.