New-York tribune., 1918-06-30
$4,000, 100000 Is
Cost to u. S. for
One Year of War
Conflict Now Draining
$4,000, 900 a Day From
Nations Treasury

WASHINGTON, June 29.-The gov
ernment to-day closed it's books for the
fiscal year just endng--the first full
fiscal year in the war-and Mon day
VIII open new annual records. Cabinet
members anc other heads of depart
ments will make reports to President
Wilson, covering their stewardships of
funds and responsibilities for the year
closing to-day-or technically to-mor-
row.
In government financial history the
year Will go down as period of ex-
pense hardly dreamed of a decade ago.
More than s12,60O,ooo, 900 is the actual
outlay since July 1, 1917, to NEE. the
multitude of big bills run up for the
army, the navy, the shipbuilding pro-
gramme, alrplane construction, coast
defence requirements, other govern
ment activities, and the reeds of the
Allies for American loaas to finance
purchases OF war materials in this
country. In peace times the govern
ment spent less than $1,O10,0O0, 900 an
rually.
With the addition of the .$1 200 O00,-
ooO which the government spent in the
three months of war preceding this
Iscal year the wars cost in money to
date has been $13,800,00o, 900.
Wars Cost $5o,oo0oo0 a Day
War activities are now draining
about $50,000000 day from the ma
tlon'ss public treasury, and in June the
running expenses were greater than
ever before, though loans to the Allies
dropped to less than in any month
since April, 1917, when the United
States became a belligerent
Including estimates for the last two
days of the month, not yet recorded
expenditures for June were about ST.
6O0,00O,OOO. or approximately the same
as the record figure of May. Ordinary
expenses fol the month amount to
about $l,25o, 100000, a new high record
and payments to Allies we've approx
mately $236,000,000, less than half the
$500, 100000 which the Treasury usual
II has figured as necessary to finance
! the Allied purchases in the United
| States every month Use of ships to
transport troops to France, instead OF
| for war materials, is considered re-
sponsible primarily for the reduction
of Allied loans.
Owing to the big inflow of income
and excess profits taxes this month
receipts <or June have eclipsed all
former records. From taxation and
other minor sources of revenue re-
Geipts are expected to amount to more
than $2,250, 100000. Payments on Lib
crty bonds and certificates of indebted
ness have yielded nearly 81 ,400,0O0,000
Expenses for First Year
With figures for yesterday and to-
Cay not yet tabulated, expenses for the
entire fiscal year were reported as fol-
lows:
Ordinary expenses for various gov
eminent departments, S7,567 100000;
payments to Allies, S4,70S, 900; in
terest on Liberty bonds and other pub
lie debt items, S175,000, 900; Federal
farm loans (to be repaid, $65 100000;
Panama Canal, $19,0O0,0O0. In addi-
ton, $6,747 100000 certificates issued
earlier in the year were redeemed
$27,362,000 one-year Treasury notes
were paid, and $21 $4,000 national
| tank and Federal Reserve bank notes
were retired.
Receipts for the year, without rec
crds of the last two days, were re-
ported as follows: Liberty loans, ST.
b69, 100000; income and excess profits
| taxes, $2,115,000,000 with probably
100000 or more yet to come in);
iscellaneous revenue sources, $685.
100000; wa, savings and thrift stamps,
S296,0000 900; customs (tarif revenue)
$178,000,000 miscellaneous revenue,