However, in November 1907, when the national assembly or council demanded a budget and made inquiries as to the financial position, it was found that the expenditure foz some years past had been half a million sterling per annum in excess of the receipts and that considerable sums were owing to banks and commercial firms who had lent money.
The principle of balancing expenditure and receipts was, indeed, soon abandoned, the State making advances to the institution in order that bread-stuffs might be sold under cost price.
The revenue for state, county and municipal purposes is derived principally from a general property tax, a privilege tax levied on the gross receipts of express companies and private car companies, an inheritance tax and licence fees for the sale of intoxicating liquors.
The system of classifying the revenue into separate funds has frequently produced annual deficits, which are, as a rule only nominal, since the total receipts exceed the total expenditures.
But while there are thus some grounds for supposing that the idea of transmutation grew out of the practical receipts of Alexandrian Egypt, the alchemy which embraced it as a leading principle was also strongly affected by Eastern influences such as magic and astrology.
We thought we had him this time but he has receipts and papers from Chicago where he claims he attended a weekend art shindig.
Since 1891 the national budgets have been calculated in both gold and currency, and both receipts and expenditures have been carried out in this dual system.
The city has also a large trade in cotton, the annual receipts averaging about ioo,000 bales.
F Up to1902-1903the extra-budgetary receipts and fines had been carried to account of the respective revenues concerned; after that date they were placed under a special heading.
Although the postal rates are high, the service is not self-sustaining, the receipts for 1904 being 7, 01 8,344 milreis, against a total expenditure of 10,099,545 milreis.