Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-07-02
New Method of Bookkeeping
Places Aggregate in Treas
ury at 1926, 789, $1,000.
STATEMENT OF ACCOUNT
APPROVED BY SECRETARY
Exhibit at Close of Fiscal Year De-
clared to Represent Prosper
ity of the Country.

The greatest balance in the genera
fund of the United States TreasurY
since 1908 is the result of the striking
of accounts at the end of the fisca!
year, ended June 30. The balance Of
$,3e,S7s. 5000 represents the new way
of bookkeeping in the Treasury De-
partment Eliminating the amounts
credited to disbursing ofiicers-makinG
the balance comparable with the book
keeping methods of other years-the
balance is s174.965.231.97.
This exceeds all expectation of Treas
ury officials. Six weeks ago an estimate
was made that was rated as tremen-
dously optimistic. II figured a balance
Of 5000. 900, 900. or sI50.0o0,0oO without
the credits of disbursing officers
Secretary McAdoo's Statement.
The statement of Secretary McAdoo
of the Treasury Department. accom-
panying the announcement. is as fol-
lows:
THE fiscal year closed June 30. 1915.
with the Treasury in a very strong and
gratifying condition, rejecting the
great and unprecedented prosperity of
the country.
Subject to revision upon analysis OF
complete returns the reports show that
the balance in the general fund at the
close OF business SATURDAY was s-ob,-
S79,590.90. including amounts to the
credit of disbursing officers and out
standing Treasury warrants. With
these eliminated. the balance was STA
965, 231.97. the greatest balance in the
general fund of the government since
1908.
The surplus of all receipts over all
expenditures for the year amounted to
$7s,737.s10.11, as compared with a
defcit of s5s.436,5so.5o for the fiscal
year 1915.
Amount Totals SOL ,112,S13.74.
The surplus of ordinary receipts over
ordinary disbursements exclusive of
Panama canal and public debt transac- 3
tions) was s61,112s1374, as compared
with a deficit of s42.s67,797.5s the
previous year.
Income tax receipts reached the great
total of s124.ss7.430.2s. as compared
year. This amount included s5s.s0s.
941.7S from corporations and s67.s57.-
4sS.5O from individuals exceeding all
estimates of collections for the year.
Customs receipts for the year
s20s.26s,107.43 the previous year, and
exceeding the estimate by more than
$16.000.0 900.
Receipts from internal revenue were
unprecedented and remarkable, reach
ing the enormous total of s512.74o.-
76s.5S, and exceeding all previous esti-
mates by many millions. Ordinary in
ternal revenue receipts amounted 10
s3S7.S73.S39.30, and, excluding the efner-
gency revenue from this amount.
these receipts were approximately
1904, 00o, 900, or $50. 1000, 900 greater than
had been estimated.
The large receipts from internal
revenue are due in great measure to
the unprecedented prosperity of the
country and the vigorous enforcement
from tobacco. for instance. were the
greatest in the history of the internal
revenue service.
THE exact total for the year which
closed yesterday will not be available
until the returns have been analysed.
but for the eleven months ended MAY
81, 1916. receipts from tobacco exceeded
the income from this source during the
corresponding period of the previous
year by s6,s10,0o0. exclusive of all
emergency revenue taxes. Receipts
from Tobacco have always been an index
of business conditions.
1.-The cost of collecting the great sum
of s512,740,769.5s of internal revenue
taxes was only IA per cent, the lowest
cost in .he history of the internal
revenue service.
Balances by Fiscal Years.
1.-The balance in the general fund for
the fiscal years 1909 to 1916. exclusive
of amounts credited to disbursng Off
GERS and outstanding Treasury war
rants. is indicated by the following
Nineteen hundred and nine s125.375.-
42SI0: 1910. s106,S94, 675.67; 1911, $i40.-
176.92613; 1912. s167, 152.47s.9s; 1913.
s1659609S479; 1914, s16l,6l2, 615.53;
1915. s1o4.17o, 1o5.7s;. 1916. $174,s65.-
23191.
The s174s65, 231s7, balance in the
general fund mentioned in the above
for the fiscal year ended yesterday Will
undouhtedlY be increased when re-