Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-22
DROP IN REVENUES
CREATES ANXIETY
Thursdays Income Tax Re-
ceiptS $44,178,143, Against
Previous $70,652, S67.
By the Associated Press.

By the Associated Press.
Treasury officials gazed apprehensively
at the financial skies yesterday after
another sharp drop In income tax COL
lections.
A warning that revenue from this
source might fall far below the amount
expected was seen in the report for
Thursday, the latest, which showed col
lections that day were only $44, 17S, 143
compared with $40, 1851, 1857 for the cor
responding day last year.
That made the total for the month
1926, 123, 981 compared with 1884, 1886, 426
for the same period last year and for the
fiscal year beginning July S1.410,555, 005
against 1881, 487,657 the previous
year.
Larger Deficit Feared.
This, coupled with other declining
revenues and increasing expenditures,
made officials apprehensive that the
prospective deficit at the end OF the
fiscal year would be appreciably larger
than the $500, 600, 900 estimated.
Some financial students have advo-
Gated that the deficit be met by reduc-
ing the amount Of money placed in the
sinking fund for use in retiring the
public debt. This has been frowned
upon, however, by President Hoover.
1t also was recalled that Mr.. Hoover.
in his last message to Congress, said
most rigid economy is necessary TO
avoid increase in taxes"
In his budget message at the same
| time he forecast a $180,000,00 deficit
but said this could be met "by reduc-
ing the general fund balance from the
amount in it at the beginning Of the
i year, supplemented, If necessary, by
| temporary borrowing by the Treasury.
Since then, Treasury officials have
forecast a $500, 100000 deficit. They
have declined to comment on the latest
income tax figures.
Contrast With Last March.
The Government had a 1928, TOO, 172
| deficit on March 10, compared with q
s22, $40, 706 surplus the same day a year
ago. Revenue from all sources for the
fiscal year had fallen $425, 900, 900 below
that for the same period last year.
On Thursday there had been received
from all sources 81, 1893, 474 ,504 while on
the same day a year ago the receipts
totaled $2,824,464, 1854.
In addition, customs receipts and
miscellaneous internal revenue contrib
uted to the decrease. Customs receipts
for the year totaled $277 500, ago COM
pared with S405 ,932, 1892 last year, while
/ miscellaneous internal revenue aggre-
gated Sale, 1866, 800 against $44o, 1872, 254
! last year.
Meanwhile, expenditures amounted
to s3,O2s, 176,677 compared with $780,
093,958 a year ago.
| While the dwindling income tax
receipts was accepted as rejecting the
widespread depression 1t was smaller
than officials had estimated and 1t was
feared the total might go below $780,
O00, 900 for the month.
Last year the March collections totaled
$3.50, 000, 900.
Adjustment Of Taxes Seen.
Representative Collier, Democrat, Mis-
sissippi, said In view of returns an ad-
iustment of taxes seems inevitable tr
the next Congress"
1T is unspeakable to think Of meet
ing current expenses Of the Government
by bond issues" said Collier, member
Of the Ways and Means Committee anc
in line for the Craftsmanship should his
party organize the next House. Il woulc
not want to take the responsibility Of