Rror,,rs EXPENDITURES THE UNITED STATES Go,



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Estimated BY Secretary OF treasury.


The returns for the fiscal year. present statement
that varies materially from the last. The surplus re
cepts over expenditures for the first quarter after the
close of the fiscal year in 1914, amounted to
about four millions Of dollars. The above table
shows that the receipts have been less than the
actual expenditures The actual expenditures for the
first quarter OF the fiscal year ending June 3o 1896
amounted to a63 o92 Al and the receipts for the same
quarter from Customs, to SCI 932 1.-THE excess in
receipts amounting TO Ss9s sa9 10 The receipts from
Customs for this quarter estimated to be than
third Of the whole received from that for the
year, the estimate for the other three quarters being only
about fifteen and half millions of dollars The receipts
from Customs the year ending June ao sil es
mated at mops less than in lsi6, and re millions
less than The expenditures OF isa7 estimated at
four and half mioos less than lsl5.


According the estimates made by the present Secre
ary Of the Treasury the expenditures will exceed the
receipts for the next two years at least Whether the
estimates have been formed with eye to the modIfea
ton OF the tariff not he does not state but as there
b en-, since the adoption OF the present act an an
nual rsuetion in the average Of duty 1t Is safe to
infer that upon which the Secretary Of the Trea
sury have based his estimate lower average
rate of duty than that enforced.


II appears that for the nine months ending June so.
Is4s he first nine months of the tariff act ofls4 the





100 per cents for the year ending June 3o is4 80 s5oo
per cent and for the year ending June so lsao 70 100
per cont showing decrease in the average por cent in
less than three years about eight per cent This de-
crease attributed TO the reduced importation Of those
articles paying very high rate Of duy and in the OPT
MON Of Secretary Of the Treasury this reduction
will continue from year to year, until the importation of
nearly all articles paying exorbtant rate OF duty,
At this rate the average rate of duty
would soon como downto q revenue point without any
action Of Congress, but merely from the changes
existing commercial system Is itself producing on our
foreign import trade. Tho Secretary agrees with
US upon this subject. This theory advanced
long time ago. and ia Of satisfaction that
II has been endorsed by the Government


There another feature in the Secretary OF the Trss
surys report to which is necessary to refer and that
is in relation TO what comprises constitutes revenue
tariff, what Is a standard The revenue from
customs for tho year ending June 80 ls with the re-
cepts om incidental sources fell short OF the s<len
ditures nearly two hundred thousand dollars the est'
mates for ls46 and al show still greater deficiency IN
the receipts which sufficient to satisfy every one hat
the present standard 10 not a revenue standard


il supposed that lower average duty will proVices
rrsa,er revenue. that many artcles now completely
sbut ont on account Of exorbant duties will bc imported


ore freely and the revenue much increase. char ge
in the manner Of levying duties upon imports wall t