Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-07-03
BALANCE IN TREASURY
LARGEST SHOWN IN YEARS
New Method Of Bookkeeping Places
aggregate at S28e, 7s9, 10000
Up to Present Date.
EXCEEDS ALL EXPECTATIONS
Statement OF Account Approved by
Secretary-EXhibit at Close Of
Fiscal Year Declared to Repre-
sent osperity OF Country.

WASHINGTON. July 2-Thc great
est balance in the general fund Of the
United States Treasury since 1905 is
the result Of tho striking Of accounts
at the end OF the fiscal year. ended
June 80. The balance Of S236,s7a, $1,000
represents the now way OF bookkccp-
Ing II the Treasury Department. Elm
mating the amounts credited to dis
bursting Understanding the balance
comparable with the bookkeeping me-
thods OF other ycars-thc balance is
Sl7a.365,23l.a7
| This exceeds all expectations of
| Treasury officials. six weeks ago AN
! estimate was made that was rated AS
tremendously optimistic. It figured a
balance of $500. 900, o0o, or $4,000, 600
without the credits OF disbursins Of
hccrs.
Tho statement of Secretary McAdoo
OF the Treasury department, accom-
panying the announcement. is as fol-
( lows:
I The fiscal year closed June so, 1916
with the treasury in 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 $685.
S'9.590eo. including amounts to the
credit of disbursing officers and out
standing Treasury warrants. With
these climinat ted. the balance was sl74-
general fund OF the government since
1908.
The surplus OF all receipts over all
expenditures for the year amounted
to $IS,737.Sl0.1I. as compared with a
deficit of s5o.i56,5So.5o for the fiscal
year Jl5.
Inc surplus of ordinary receipts
over ordinary disbursements texclu-
sive of Panama Canal and public debt
transactions) was $61,lI2.s1S.74, az
compared with deficit Of s42,S67,797.59
the previous year.
Income tax receipts reached tho
great total Of sl24, S67.430.2G, as COM
pared with s79.S2S,615.27 for the pre-
vious year This amount included S56,-
909,a4l.IS from corporations and $751;
5I,+SS.50 from individuals exceeding
all estimates of collections for the year.
CUSTOMS RECEIPTS
ENCEED THE ESTIMATE
Customs receipts for the year
amounted to $2ll,S66,222.3a, as against
S209.2GS. l07.43 the previous year, and
exceeding the estimate by more than
sl6.000.000
Receipts from internal revenue we're
unprecedented and remarkable. reach
ing the enormous total of S512,740-
7G9.5S, and exceeding all previous esti-
mates by many millions. Ordinary in
ternal revenue receipts amounted to
1887 1880. and excluding the
emergency revenue from this amount,
these receipts were approximately
1904. 00o, 900, or $4,000, 900 greater than
had been estimated
THE large receipts from internal
revenue are duo in great measure to
the unprecedented prosperity of the
country and the vigorous enforcement
Of the internal revenue laws. Receipts
from tobacco for instance. were the
greatest in the history of the internal
revenue service.
1.-The exact total for the year, which
closed yesterday will not be available
until the rctLrns have been analyzed.
but for the eleven months ended Nav
81, 1916 receipts from tobacco exceeded
the income from this source during the
corresponding period of the previous
ycar by S6,SlO.0O0. exclusive of all
from tobacco have always been, an in
dcX Of business conditions
"'rhc balance In the general fund for.
the fiscal years 1909 to 1916. exclusive
Of amounts credited to disbursinS OH
GERS, and outstanding treasury war
rants. is indicated by the following
Nineteen hundred and nine, s125,-
3I5,42S.10; 1910. s106,s94.676.67; 1911,
S1i0.176.a26.13; 1912, 16f,152. 1880:
1913. $l65.960.9S4.79: 1914, SIs1.s1o.
6l5.53; 1915, STOCKHOLDERS: 1916, STA
965.23l.97.
THE Si7i.965,231.o7 balance in the
general fund mentioned in the above
for tho fiscal year ended yesterday will
undoubtedly he increased when re-
vi:ed returns are received"