Surplus & Donors

Closing its books for the first three-quarters of fiscal 1935, the U. S. Treasury last week reported its first monthly surplus ($56,000,000 for March) in 41 months. Reason: Income tax revenues for March, with two days still to be reported, were $323,000,000 against $232,000,000 last March; miscellaneous tax revenues were up $60,000,000 from last March. Total nine-month deficit was $2,193,000,000.

Also last week the Treasury reckoned up the gifts which patriots have made to their country since 1862, found a total of $1,576,022. In 1883 a Newark, N. J. man turned in $950,000 worth of government bonds. Second largest gift, still to be received, was from the late great Justice Oliver Wendell Holmes, who bequeathed to the U. S. about half of his $550,000 fortune. Others: $25,000 from a Cincinnati man in 1918 to help pay for the War; $90 from a Rochester, N. Y. man in 1933 to help reduce the Government deficit; $75 in 1919 from an Ohioan who eight years later asked to have it back, was told that such a refund would require an Act of Congress. Closely guarding donors' names, Treasury officials admit they are afraid that lawyers might dig up needy heirs, persuade Congress to give back some of the money.

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