New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-07-02
Excess of Payments for
Fiscal Year Totals
S64,165,l46.
SUGAR DUTY MAY
BE RE-ENACTED
War Revenue Bill Must Be Con-
t'uued In Force During
Coming Year.
p-sr II. tbuao bureau :

Washington. july IA total Of Sl4'-
slbl54 vas taken into The Treasury
v..,erdav. Ihis brought down the
s.seit for the year 20 S64.165.4i6. The
ct balance on hand rose 20 SS2,o25, TO-
sfter having touched at below Sl4,-
500 600 during the last part OF May.
Yesterdays receipts included customs
duties. SS6O.2S6; internal revenue, IN
sln3,rg war revenue taxes, S'.469.5Sl,
income and corporation taxes, S36,oJ3,-
s95 and miscellaneous, SSl.SO9.
The total collections OF income taxes
Tor the year amounted 20 Sl9,S2e,o'5'
&c against S-13S6l56 for last year.
Daring the last fiscal year. however.
he income ard corporation taxes were
only IL effect FOR ten months when inc
fiscal year ended.
The income taxes for the fiscal year
lust closed do not have 70 be paid be-
fore July 10, though they are due on
~ before June 50. No penalties at
tsch FOR the first ten days Of July
The DEPARTMENT expects large receipts
from this source during the next ten
days.
amounted 20 S696.5q6.730. as against
svnerditures. exclusive Of the Panama
Csnsl. Of S7Sl.527.57l, which would
Eve a deficit. exclusive OF the Panama
canal expenditures. OF S36,S64,ool.
When the Panama Canal expenditures
are included the deficit for the year
Is brought up 70 S64165,4l6.
The total receipts from customs
6yties amounted 70 S209, 26S,lO7 for the
sscal wear just ended. as against S292,-
los 52I last wear. BY means OF the
war revenue bin the receipts from in
terral revenue sources were pushed up
from SSOS.6l3.S43 last year to $500
The drop Of SS3,Oo0O0O in the tariff
revenues is all the more significant
when i is realized that part OF the
duty on sugar still applies. and that
his will come OF next March. so that
for the last four months Of the hscaI
year which began TODAY the depart
ne.t will have 10 revenue from sugar
The revenue from sugar under tne
PAYNE Aidrich bill amounted 20 sou
100000 a year. There will probably be
no imports Of sugar for az least
month before IL comes IN on the aoso-
.utelv free list. since no dealers would
ike 10 be caught with large supplies on
hand. Il will be brought IN IN bond
as were many imports waiting LOT 'he
Underwood-SiWmons bill.
While administration officials pro-
fessed 20 find great enthusiasm IN big
receipts yesterday, the cause for this
joy from the political point Of view is
hard 20 find. The temporary boost TO
the revenues does not alter the fact
that the war revenue bin must be re-
enacted az the opening or the next Con-
gress, probably with higher rates or
covering more articles than az present,
while the duty on sugar must be re-
stored. with d confession that this sec
ton Of the tariff bill was a mistake,
or some other radical means Of raising
money by taxation devised.
The tefci, for the fiscal year just
ended includes about S6,600,000 TO keep
the Postoitice Department going. The
total deficit in that department is esti-
mated AZ about S18,000O00. though the
excess above the money already paid
By the Treasury Department VIII not he
charged against the fiscal year just
ended