The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-11-15
CONGRESS FACES AN
ENORMOUS DEFICIT
Next Session Mny Have TO Make Up
shortage OF $780,
900, 900.

Washington. ID. c., Nov, l4.-Esti-
mating upon the government receipts
for the first four months Of the cur.
rent fiscal year. threatened deficit
of 500, 100000 in the revenues by the
end of the year will engage the atten-
ton of Congress when it assemblies
Consideration of the figures Is entire.
ly aside from the military prepared.
ness program and relates only to the
government.
The sixty-third Congress appro.
priated In its two sessions for rne
two fiscal years 1915 and 1916 a tota,
| of S2.23i. $50, which was double
the total appropriations of the Fifty
first Congress, when Mr.. Reed, OF
Maine, answered the criticism of q
billiou-dollar Congress with the re-
tort that this is billion-d dollar coun-
try" and s200,000,000 more than the
total appropriations of the Sixty-firs'
Congress. the last controlled by the
Republicans. The appropriations for
this fiscal year total 81, 4,937,olZ
OF which s3l3,364.667 was for the
postal service, leaving only sS01,527,-
345 to be met by the revenues.
The customs receipts for the last
fiscal year were only $209, 10000, the
lowest in many years, and more than
100000 600 less than for the last
year of the Payne-Aldrich law For
the first four months of this fiscal
year the customs receipts are SILL
5o0,0 less than for the same period
last year If this decrease holds
throughout the year the customs re-
ceipts will not total more than 1884,
600, 900, or the smallest amount from
customs since the repeal of the VIII
SON German tariff law.
There has been an increase of about
st9o00,o00 in the ordinary internal
revenue receipts for these four months
over the receipts for the same period
last year. due to the emergency tax
which did not go into effect until the
first Of November, 1914. There has
also been an increase Of about s4,-
600, 900 In the receipts from the in
come tax but a loss Of 100000
In miscellaneous receipts so that the
net gain from internal revenu is about
SO 100000 or s2,500.Q00 less than the
loss from customs revenue.
The total receipts last year we're
$685., 596,73 AZ ana the total disburse-
ments s760.762.14710. leaving de-
felt of s64.165,416.7s. The outlook
I for this year. as indicated by the nrs'
/ four months is that the total receipts
I VIII not exceed $3.50 900 900 to meet
disbursements exceeding $500, 900, 600
leaving a deficit of something more
than s100.000.o00. There also threat
ems to be a deficit in the postal reve'
nues.
/ All this Is on the assumption thai
the emergency revenue act and The
sugar duties will be continued. shoult
either fail, tie deficit would ne In
creased by a. least s5o,ooo,oo0 L
/ Congress follows the President ant
adds $3.50, o00,0 900 a year for the mex
five years for national defense th'
revenue dilemma Of the Democrat
will be increased. There are onl!
$40 900. 900 of the Panama bond
available. or not enough to cover tn
proposed appropriations for nationa
defense for the first year.
The Secretary Of the Treasury, IL II
said. Will have to secure the anthorit,
OF Congress to issue other bonds, fix
ing the conditions, such as interest
premium, etc. The administration
therefore. has to consider the alterna
tive OF asking Congress for authority t
sell large block of bonds. and per
haps come In competition with the al
lies In the money market, or recon
InenU new revenue EiSiatioii. U
wool, free lumber, free raw material
have been Democratic doctrine for man,
years and, 1T is said, 1t might be a
dangerous for the President to winl
at tariff on these products as TO
him to make short cut into the pro
lection camp and recommend restora
ton OF some OF the old rates OF thu
Dngley bill. which was the best reve
nue. tariff ever enacted
The situation is held to be quite n
embarrassing as IL was when Preat
dent Cleveland sadly admitted that TIL
Democratic party was facing a condi
ton and not a theory. Mr.. Cleve
land sold s26s. 900, 600 Of bonds to NEE
the condition, but with a continuing
program for national defense whicl
will, in the end, cost more than a bill
lion dollars the necessity for anothe
revision OF the revenue laws makes tn
old free trade element in the Demo
cratic party SILVER as with the ague.