AMERICA'S FISCAL YEAR.

Stratford Evening Post, Volume XXXVIII, Issue 18, 21 January 1914, Page 4

AMERICA'S FISCAL YEAR.

Mr McAdoo, Secretary to the United Stages' Treasury, in his annual report on the American fiscal year to June 30th, 1913, makes reference to the maritime conference in London, and especially to the question ol patrolling the ice belt in the North Atlantic. The important maritime nations, he says, should unite in delining the lanes of travel across the Atlantic, avoid all danger from iee'bergs during the months of April. May, and June, and compel steamship companies to observe them. If the steamship companies persist in the course they are pursuing, he added they should he compelled to maintain an effective ice. patrol at their owe cost, llr McAdoo recounts the happj result of his action at Dayton (Ohio; after the disastrous flood last spring in volunteering to deposit £400,00( with each hank there if desired. Similarly he expresses satisfaction thai iiis proposal to issue 5,100,0 C 0,00( emergency currency at the beginnine of last summer checked the disposition of the hanks throughout thf country seriously to curtail credits. He concludes from these instance; that the establishment of confidence was one of the incentives to reform the hanking currency system-. "Sc long as the Government," proceed! the report, ''has the power to intervene in a beneficent and unselfish way. the danger of panics and unjust practices is largely, ii no;, wholly, destroy, ed." The report shows that the excess of receipts over expend cur amounts to £8,268,200. Against vl.ib. however, must be set. disbursement? on account of the Panama Can;:! amounting to £8,3*8,200, leaving a., excess of disbursements (including Canal expenditure) amounting tc £BO,OOO.