Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-06-29
Outlay Since July 1, 1917,
Totals More Than
$4,000, 900, 900.
FEDERAL FINANCES
SHOWN IN FIGURES
In Peace Times Government Spends
About One Thirteenth OF Sum Used
in Last Twelve Months-Cost Of
War Since April, 1917, $4,000, ,00o, 900
War Activities Drain Treasury Of
$50, ooo, 900 Daily.

Washington, June 29.-The govern
ment today closed It's books for the
fiscal. year just ending-the first full
fiscal year in the war-and Monday
will open new annual records.
Cabinet members and other heads of
departments will make reports to
President Wilson covering their stew
ardship of funds closing today. or
technically tomorrow.
More than :ic.see. .eHe, Gee &c the
actual outlay since July 1. 1917, to meet
the multitude of big bills run up for
the army, the navy, the ship building
program, airplane construction. coast
defense requirements and the needs of
the allies for American loans to finance
purchases Of war materials In this
country.
In peace times the government spent
less than $1,000, 100000 annually.
Wars Cost $13,soo ooo, 900.
With addition Of the $1,000, 900. 900
which the government spent In the
three months of war preceding this
fiscal year. the wars cost in money tc
date has been SIS, 100000.
War activities now are draining
about s50,OO0.O0O a day from the ma
tion's public treasury.
/ Including estimates for the last two
days of the month, not yet recorded
expenditures for June were about
81, 500. 100000, or approximately the
same as the record figures of May.
Monthly Outlay $1,258.00 900.
Ordinary war expenses for the month
amount to about $1,25S. 100000, a new
high record, and payments to allies
were approximately $236,000, 900, less
than half the s5oo.oOo,oOo which the
treasury usually has figured as neces- :
sary to finance allied purchases in the
United States every month.
Owing to the big influx Of income
and excess profits tax for this month
receipts for June have ecIipsed all rec
!ords. From taxes and other sources of
revenue receipts are expected to ex-
|ceed $2,250000.000.
Payments on liberty bonds and GER
|tiflcates Of Indebtedness. have yielded
YA''VobooV'ooo.
Years Receipts Set Record.
Receipts of the year. withoutarecords
'of the last two days. were reported
as follows:
Liberty bonds 1865, 900. 900: income
and excess profits taxes. $2.115,o00. 900.
with probably $5OO.oO0,O00 more yet to
come in: miscellaneous internal reve-
nue sources, 3s63,OOO. 900: war savings
and thrift stamps, S296 900 900: customs
tariff revenue). $17s,OO00o0: miscel-
laneous revenue. s2s7, 100000: Panama
canal tolls. $5.S46. 900. The government
also took in 100000 from sale of
certificates Of Indebtedness redeemed
later in the year: $1.O2O. 900 from postal
savings bonds: $19,150.000 deposited for
purchase Of one-year treasury notes
under the federal reserve act. and $10.-
240, 900 deposited for retirement of ma
tional bank and federal reserve bank
notes.
The big proportion Of government
financing this yearNis shown sharply in
comparison with records for the pre-
feeding year Then ordinary expenses
were $1.147, 000s and loans to the allies
$s75, 100000, or total of more than
$2,0O0,00o,000. Ordinary revenue re-
ceipts were s1.11s.oo0. 900 and payments
on the first liberty loan amounted to
ST. 466, 100000.