The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1918-07-31
Shortage of Tonnage Causes
Decrease of SS0,0OO,OO0
i'm Six Months
AN INCREASE IN
THE MONTH OF JUNE

Offset by Gains in Other Departments |
watching United States for Taxa
ton Changes.
TORONTO, Canada, August 1.-The
great movement of American troops to
Europe, which necessitated the with
drawal of a certain amount of shipping
from the produce carrying trade, mas
had. its effects upon Canada's foreign
trade as well as the trade of the Unit
ed States This apparently was the
principal factor responsible for the de-
crease of $3.50, 900 900 in the June for
eign trade of the United States as com
pared with May, Canada $ trade for
June shows an increase of $22,000,000
as compared with May, but taking the
six months ended June 30 the Canad-
ian exports are about $S0,000,0OO less
than the exports for the same period
of 1917 and the imports are $S4,O00,0O0
less than in 1917 In case of the 1918
exports the June figures, $10S,500,0 900,
/
the June exports were $1l6,000,0O0;
MAY, $149.000,000, and March, $l22,-
| 600. 900. Then however, the munition
factories were sending out more. and
agricultural products also were beng
shipped abroad in larger volume. In
so far this year, decrease is ascrlb-
able to shortage of shipping, this be-
ing brought about by transfer OF yes
sells to the transport service, 1t VIII
perhaps be reetifed later in the season.
| If so, the exchange market at Canad-
| ian centres win be benefited, as the
| Montreal and Toronto bankers have
been considerably Inconvenience this
year by the relative scarcity of export
! bills. Exchange rates during the lat
| ter part of July receded somewhat, the
premium on New York funds falling
| slightly below per cent This may
be an indication that the export move
ment of supplies piled up in the earlier
months is now proceeding more salts
factorily.
As regards 1918 imports the monthly
decreases have been consistent. Thus
June shows a decrease of $15,500,00
as compared with 1917; May, de-
1 crease OF n lS.NbV.Vupy apply GCBVNbyVVN
March, $15,000000; FEBRUARY, &c.
100000, and January $12,000,00 This
of course, is partly due to the restric-
tions and impediments arbitrarily placed
by the government. SO long as they
remain in evidence the import trade
will not be in good position for rap
id or sensational recovery. 1t would
not be surprising if imports during the
! second half also ran behind the 1917
records.
II Naturally the decline of imports has
affected the Dominion government s
! customs revenue to certain extent
Customs collections for June were not
far behind last year IS the total being
; S13.24O,000 for June 1918, as against
. S13.560,000 for June 1917. In May
? however, there was n decrease of 81,
100000, preceded by small decrease
of about 100000 in April. Taking the
:, three months of the new fiscal year tt
. June so, customs revenue amounted u
$40, 100000 in 1918 as against $44,
100000 in 1917 The slight falling of
E i'll this department of the public rev
y enue was more than offset by gains il
other departments, most of the gain
y aDDeafl0U IN the 'IllSCeitdncOuS rev
: enue which heading covers the variou
special taxes imposed since the com
mencement of war. All told, the rev
enue of the Dominion for the first quar-
ter of the fiscal year was $67 100000
/ as compared with 1863 100000 collects
Ii in the same quarter of 1917.
e The ordinary current expenditure
It of the government during the perio
e show an increase, the total for tn
v June quarter of 1913 being $l7 100000
r as against $10,300,000 year ago. Car
!; ital expenditures this year accordin
II to the books of the finance depart
&c ment, are about the same as in 1911
g Outlay on war for the three months
4 $4,000, 900 as compared with $50
e 100000 for the same three months Q
'e 1917.
Taking the figures as presented ther
is an apparent surplus of revenue owe
expenditure of all kinds-ordinary wa
and capital-of $2S,000,000. If thos
10 figures represented the real state of a.
10 fairs they would indicate that the DE-
minion government had no occasion
borrow for its own needs. But esp
cially in ease of the war outlay thel
= are always large debit entries outstant
III ing, and with these outstanding entire
passed through the books the apparer
surplus probably disappears.
When Canada s income tax law W;
passed last year the intention was
have the taxes on 1917 income payab
June /; but the time for filing Il
statement by parties liable for tax
~ tion was extended and apparently Il
= tax notices have not yet gone out TIL
nd delay has affected the revenue stat
er ments of the treasury, as the amour
W received from the tax'wouldS reach 1
w spectacle figures. In all probabili
N, these payments will be largely col
es' pleted before the end of Septembe
ny and if so the revenue for the secol
20 quarter will probably show substa
e. tial gain. Regarding new taxation, Ca
: ada is closely watching the course
events in the United States. VIII
congress and the Washington admin
tration finally agree upon the metho
er by which the greatly increased rev