an example.

PHILIPPINE BUDGETS

Financial Estimated Income Difference.
Year. Income. Realized.
P P P
1884-85 11,298,508.98 9,893,745.87 1,404,763.11
1885-86 11,528,178.00 9,688,029.70 1,840,148.30
1886-87 11,554,379.00 9,324,974.08 2,229,404.92
1894-95 13,280,139.40 13,579,900.00 299,760.60
1896-97 17,086,423.00 17,474,000.00 387,577.00

ANTICIPATED REVENUE, YEAR 1888

P cts.

Direct Taxes 5,206,836 93

Customs Dues 2,023,400 00

Government Monopolies (stamps, cock-fighting,
opium, gambling, etc.) 1,181,239 00
Lotteries and Raffles 513,200 00
Sale of State property 153,571 00
War and Marine Department (sale of useless
articles. Gain on repairs to private ships in
the Government Arsenal) 15,150 00
Sundries 744,500 00

9,837,896 93

Anticipated Expenditure, year 1888 9,825,633 29

Anticipated Surplus P 12,263 64

The actual deficit in the last previous Budget for which there was
no provision was estimated at P1,376,179.56, against which the above
balance would be placed. There were some remarkable inconsistencies
in the 1888 Budget. The Inspection of Woods and Forests was an
institution under a Chief Inspector with a salary of P6,500,
assisted by a technical staff of 64 persons and 52 non-technical
subordinates. The total cost for the year was estimated at P165,960,
against which the expected income derived from duties on felled
timber was P80,000; hence a loss of P85,960 was duly anticipated to
satisfy office-seekers. Those who wished to cut timber were subjected
to very complicated and vexatious regulations. The tariff of duties
and mode of calculating it were capriciously modified from time to
time on no commercial basis whatever. Merchants who had contracted to
supply timber at so much per foot for delivery within a fixed period
were never sure of their profits; for the dues might, meanwhile,
be raised without any consideration for trading intere