The Washington herald., 1921-05-26
FEDERALPAYMENTS
TOTAL HUGE sum
FOR FISCAL YEAR
Nearly Six Billion Used
In Operating Gov
ernment.
WAR DEPT. HEAVIEST
Spends s1,O27,750,O0O, Accord
ing to Own Figures; Rail-
roads Near Billion Mark.
WAR DEPT. HEAVIEST

When the governments ledger Is
balanced at the close of the fiscal
year June 80, 1t will show that
more than $500. .o00. 900 have been
paid out in IL months to operate
the government and retire it's obli-
cations, according to reliable esti-
mates obtained at the treasury de-
partment.
This figure is without reference
to appropriations by congress,
which do not furnish an accurate
index of what the government
spends. 1t represents actual dol.
lars that will have been paid out
OF the vaults of the treasury.
The ordinary expenditures of the
government, which do not take into
account operations in connection
with the sinking fund and public
debt, will reach S5,005 200. 900. it is
figured. To meet these there will
have been paid into the treasury
from taxes and other sources. s5,.
4S7, ,067 900. But this surplus OF
nearly $500 100000 will be absorbed
by public debt operations. 1t will
not. in fact, provide an amount
sufficient to meet what the treasury
calls fixed public debt redemp-
tions."
The amount which the treasury
expects to spend in these debt re-
demptions is s5s6,479.365. The sink
ing fund was to absorb s253,000, 900.
The remainder is to go for current
redemptions of war savings GER
tificates, for acceptance of liberty
bonds and victory notes for estate
taxes, and the meeting of miscel-
laneous retirements required by
law.
Total Expenditure.
The total expenditure for the year
thus reaches s5.6o2. 900. 900. when
ordinary expenditures and debt
transactions are added. Figuring
the total income at s5.4s7. .067 900.
an excess Of disbursements over re-
ceipts of s114s57. 900 is shown
The treasury had expected. out of
current revenues. to retire a portion
of the floating debt of $4,000. 900, 900.
But its calculations have been upset
by the magnitude Of current expen-
ditures. and there will be virtually
no funds available for the reduction
of the short-time paper. Large ex-
penditures for the army, the navy.
and payment to the railroads de-
stroyed hope for a better showing.
War Department Most Costly.
Railroads. during the fiscal year.
will have been paid ss03.551. 900. The
expenditure was made necessary by
the transportation act, which guar
anteed the income of the roads for
the FIRST six months of private on
Grafton. and by settlements growing
out of federal operation. The war
department. according to it's own
figures. will have spent in the IL
months more than than $1,000. .000.-
0o0-s1 1.027,750.o 900 1t Is figured. The
navy will have absorbed s697.50o,-
o00
other large expenditures include
these: Treasury department. includ-
ing s250.000.000 for soldier relief.
s447. 900. 900; interior department. in
GLIDING pensions and payments to
Indians, 1923. 3.00o. 900: interest on the
public debt, ss75.0o0. 900: department
of agriculture. including federal
road aid expenditures. s107, ,000. 900;
shipping board. s1e3, ,000, 900.
The major portion of the govern
ment's income during the year has
been derived from excess profit and
income taxes. When the June Is
installment is paid, the total of
these. It is estimated, will reach So
$50, 900 900. Customs brought in
5000. 900. 900, and miscellaneous taxes
81, 400, 900, 900. Sales of surplus war
property yielded $3.50, 100000