The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-10-01
OUR GOVERNMENT FACE
TO FACE WITH A
BOND ISSUE

Washington, Sept. 70. Especial cor
Observation-Disclosures by the de-
mand of the Europen Allies for loan
of a cool billion of American dollars
a western financial twriten suggests
that our own government may need
to borrow that much money itself
According to him theedany de6cit,in
the federal treasury is $467, 34F or at
the rate of $l70,0O0,000 year; which
suggests that within three months it
will be necessary for the government
to raise loan of at least $200,OOO,0OO
to provide for ordinary expenditures
and suitable working balance.
Then if the talk Of bringing the
army and navy to the state of pre-
paredness materializes into action,
there will be required at. least $780,
100000 more, so that the banks and
investors of this conrttry may reason
ably look forward tol being called on
within the next six Ronths to lead,
the United States $5dO,0OO,OOO.
From July |, the Beginning of the
governments fiscal year, the average
daily deficit to September 8 was
$467 ,344 in excess of receipts making
a total deficit from operations Of $32,-
7l4,l33 in a little oYeg two months
On September 9Th the net balance in
the treasury available for such ex-
penditures was $5l 81, SOP.
At the current rate of deficit this
balance will be exhausted by the mid
die of December, if NOT earlier. Ap-
parently about the first matter that
will be brought to the attention Of
Congress on its assembling will be
the necessity for providing funds to
meet daily expenses.
At the rate Of $467 900 day deficit.
the total for twelve months would
reach nearly $l70,O00,00g And as I'M
ports continue to fall off, due to the
continuance of the foreign war, the
gap between income and expenditure
should grow larger, although even had
there been no war, the reduction on
tariff duties would probably have
brought about a treasury condition
similar to that which now exists.
For the current fiscal year to Sep
TENDER 9Th, government receipts were
$l21, l4l,074 against $138998,9H for
the corresponding period in 1914, a
decrease of $l7,857, 874 ors127 per Gent
compared with last year. Up to Sep
TENDER 9Th of this year the expendi-
lures were $327l4,133, or an average
daily rate of $467, 3a4 For the cor
responding period last year, the de-
felt from operations was $25,754,375,
a daily average lossfof $339,348.
In the present fiscal year the re-
ceipts from customs to September 8
were $34,378,702, against $46,756,791
for the corresponding period last year
Ordinary" internal revenue showed
an increase of about 81, 100000, total
receipts from this source being Sos,
10000, against sol ,287, POO last year.
Corporation and income tax receipts
were $l0,244,722, compared with ST.
688695 in 1914. In miscellaneous
receipts there was larger falling off
than in customs revenue, the figures to
September 9Th being $10,283,O58
against $23, 266.l7l last year. Neither
the INCOME tax NOR the, internal re-
venue "war tax" singly or combined
has served to make up the loss in tar
iff revenues.
The administration has been report
ed as setting no obstacle" in the way
of the proposed loan to the Allies. Is
it because the administration hopes
that no obstacle will be set when il
has to borrow a lot of money itself
to pay for its mad folly in cutting
down revenues while increasing eX-
penses?