Evening Republican, Volume 19, Number 155, Rensselaer, Jasper County, 1 July 1915 — U. S. TREASURY IS MILLIONS SHORT [ARTICLE]

U. S. TREASURY IS MILLIONS SHORT

Deficit for Fiscal Year Estimated at From $40,060,000 to $66,060,000 laoome Tax is Kg Aid. Washington, June 30.—The business year of.the federal government came to an end tonight with treasury officials still unable to determine how much of a deficit the accounts of receipts and expenditures for the last twelve months will show. Internal revenue officers throughout the coun--liy telegraphed that they would remain open until a late hour tonight and that figures on the last day’s returns would not be available until some time tomorrow. Estimates of the treasury deficit today varied between $40,000,000 and $60,000,000. Receipts in the last few days, however, have f made it apparent that there will be no present need for a bond issue, looked upon as a probability a few months ago. One fact that officials do not overlook in considering the present condition of the treasury is that the postoffice department has run behind somewhere between $10,000,000 and $15,000,000, due to domestic business conditions and the falling off of foreign business. From al linformation available now the emergency tax law has not been such a good revenue producer as it was expected.