The Washington times., 1915-04-25
UNClEtSAMAAS BIG
GAP IN HIS POCKETS
Treasury Figures Continue to
Tell Story Of, Increased Ex-
travagance Of Government.

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, defcit which will have to be faced
at the end of June.
1t Is impossible as yet to make any
thing like an accurate forecast Of the
deficit because the amount of the in
come tax collections with will come in
between now and June so is problemati-
cal. However. the present figures OF
receipts and disbursements indicate
that Uncle Sam will experience a big
gap in his pockets when the fiscal year
comes to a close.
This - SO obvious that there has been
talk In some quarters about an issue OF
Panama. bonds, but the Treasury De-
partment has denied II ontemplated
such an issue, and 1t is probable that II
any Is to come 1t is still some distance
ahead.
Net Balance Only $25,000,000.
Having imposed a war tax on the
public. the Administration naturally Is
unwilling to resort to a bond issue un-
less it has to do so, and 1t Is not yet In
such an extremity as to make sale of
bonds really necessary, though the net
balance in the general fund is down to
the low figure Of $25,0oO.V0 In round
numbers
What is usually referred to as the
deficit in the Treasury stands in round
numbers TODAY at $l21 0O0, ,000. as against
500, 900, 600 on the corresponding date last
year. This is the net excess of all dis
bursements over all receipts. 1t Is in
elusive of the disbursements on account
OF the Panama canal If the disburse-
mentss on account of the canal are
omitted, the deficit stands at about $9s,
COCo00. Naturally, such disbursements
are omitted on the part or those seek
ing to put the best front on the Treas
TRY situation. but as a matter of fact
ury deficits it has been the common
practice to include the Panama canal
figures in the reckoning. $4,000.
Receipts to date are about S39.0OO.Wt
lower than they were at the cores
ponding date a year ago. The customs
receipts have fallen Off about ST., ,0J0 900.
The drop in customs has been partially
made up by increase in internal rev.
enue and miscellaneous receipts, due
largely to the war tax.
Increased Extravaganza.
The Treasury figures continue to tell
the story Of increased extravaganza In
expenditures by Congress and the Gov
ernment. If expenditures had been
held down rigidly, the Treasury would
now be in fairly good shape, or. al
least, in much better shape than 1t is
The expenditures by the Treasury thus
far in the fiscal year have been about
s24.0OO,OOO heavier than In the same
period the year preceding.
And everybody knows that there was
no marked exhibition of economy in the
year preceding. Also. 1t is well-known
the Treasury Is holding back expendi-
lures all 1t can in order to minimize
the deficit as far as possible. This 4,
illustrated in the policy Of delaying pub
lie building projects, q delay that Is
causing outcry from members of Con-
gres~
Judging by the present Treasury con.
ditions as to receipts and disbursements
and allowing for. heavy income tax re-
turns in June, it is not easy now to see
how the deficit at the end of the fiscal
year can fall below $50 600 900. and II
may easily mount as high as $4,000, COO
Thfs, with the war tax in effect to the
contrary Notwithstanding.