New Britain herald., 1925-07-02
TREASURY SURPLUS CAUSES REVISION
 0F NEW ESTIMATES
Under.SeCretary Winston Orders Review of All'Fisures
 in Detail
ALL RECEIPTS EXCEED
 EARLY EXPECTATIONS

mated and Customs Revenue Also
 Was Unusually High-Next Years
 Surplus May Reach 29O Million, Is
 Prediction.
 Washington, July P}--With final figures in hand showing a $250,o0a.- GOO surplus for the fiscal year end ed Tuesday, treasury attention was turned today to revision of esti- mates of receipts for the year now beginning, Orders 10 review all of the figures in detail was issued by Under Secretary Winston.
 The reramping of calculations was made necessary by the fact that practically all items of receipt for rhe past year exceeded expectation. Much of the excess thus resulting came in receipts from taxes paid in March and June, and furnishes what is regarded as definite indication of the trend to be developed in the fiscal year now started.
 Income Taxes Jump
 Income tax receipts. amounting to SLIGO 000, ,0OO were Sf00,0 900 greater than had been estimated. The belief prevails at the treasury that receipts from this source fin the -cl1 fores to go above $i.710,oo0.0oo% which was the figure calculatela when the last budget was sent to congress.
 Customs revenue and miscellan- eous tax receipts also were unusual i' high. and officials are convinced the surplus when the current year ends next Jun will be materially higher than the previous estimate of 2240, ,0no,0 900. II is on this surplus that tav reduction must be based. PICK UP TYPE
 Exact Figures
 The close of the fiscal year 1925 on Tuesday found surplus of $25h,- 505.238SS in the treasury after eX- rendhure of S$.5?a,G43,446.09 of the ordinary receipts. which totaIled s%,- 7&h.14S,6S4tc.
 The surplus, nearly four times the am 7ount forecast October, Is not available for tax reduction purposes 1 this year, having been used to lower 1 the public debt Secretary Melons 1 statement cf the treasurys condition | said that only the annual surplus to 1 be expected in future years should 1, be used as the margin available for tax reduction,
 Treasury officials offered no eS- planation of the increase of the sur ! plus over earlier estimates hut others | believe improved business conditions together with the lowering of sur taxes last year were largely re- sponsihle. Jse of the surplus and | funds from other prescribed sources reduced the public debt s7%4,619.- to1 59 to total of S20.5l6193,- 857.oo The amount of the reduc- tion also gratifed treasury officials, nho had held earlier estimates below the S7on. nn0.ono figure.
 Customs Receipts
 Customs receipts sTelIed the rev enue total by $547561.2o6.11, or within one-half of one per cent of the figure estimated year ago. taxes produced SS2S.- 63S,o79,ao, approximately the treas ury's forecast, and income tax re- turns S1T6o,5S7, S23.6S, or about six per cent more than estimated last July, Total expenditures for tho year represented net decrease of S444o,361.91 from the forecast of a year ago.
 Plans of the treasury for a more enforcement of the prohi- hition law were described in MT. Melons statement as rapidly near Ing completion. He reviewed efforts 10 keep smusslod liquor out of the country by means of treaties with various foreign countries and use of he coast guard 10 blockade rum row, and these measures, together , win the recently ordered reergani- , ,ation of enforcement of land. he , oelteves equip the treasury to make ! he NclStea1 act more effective.