The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-12
The Finances.

Auo rluaucc8s
Wehave within recent period had four state
ments of the condition of the national finances
put forward with more or less official authority,
not one of which is In harmony either as to
facts or differences with the other three The
first was that of Mr.. Wells, the Revenue Com
missioner; the second that of Mr.. Atkinson;
the third that of Mr.. Delmar, the Director Of
the Bureau of Statistics, and the fourth that Of
Mr.. E. B. Washburne, the chairman of the
House Committee on Appropriations. This
last is intended as refutation of the exagger-
ated estimates of Mr.. Delmar, and is on the
whole q more matter-of-fact and impartial
exhibit than any of the others, and while it
presents much more satisfactory view of the
present and future condition of the Treasury
than Mr.. Delmar's letter, it is free from the
glazing exaggerations on the sanguine side
which rendered Mr.. Atkinson's statement about
as worthless as Mr.. Delmar's Both of these
statements were singularly ca pGrte, and were
evidently designed to point a moral, polti-
cally speaking, rather than to show
the real condition and probable course
ment is incomplete, however, while that Of
Mr.. Wells was marked by the defects which
distinguished that of Mr.. Atkinson, who claims
to have derived his inspiration from Mr.. Wells
figures We have, therefore, no reliable exhibit
of the finances from any official or semi-oficial
source, and the probability is that we shall
not have one until after change in the admin
istration occurs and General Grant places an
original-minded man, equal to the position, at
the head of the Treasury. These four state
ments are so contradictory in their character
that they leave the affairs Of the Treasury in q
greater fog than they were before, and the
public mind is confused by their conflicting
assertions and estimates.
Mr.. Washburne estimates the customs re-
ceipts for the fiscal year ending on the 30th of
June next at $l75, 900, 900, while Mr.. Delmar
estimates them at $3.50, OOO, 900. The former
places the internal revenue receipts at
$l6O, 900, 900, while the latter would make
them out to be only 1922, 100, 900. Mr.. WASH
burne estimates the miscellaneous receipts at
$45, 900, 600, while Mr.. Delmar makes them out
to be $7,5OO,OOO; but he also allows for
81, 900, 900 of Treasurers receipts, which
is an item not included in Mr..
Washburne's account. Here, then, we
have difference of $4S,380,OOO be-
tween the two in the amount of the
public income. Mr.. Washburne estimates
the expenditures for the fiscal year at
5000, 262, 1865, while Mr.. Delmar, without in
Guiding the Post Office deficiency Of
SO, lOO,O 900, fixes them at S475,959 2O2-an
exactness of calculation which would seem
to lay claim to accuracy. Thus, while the
former looks for q surplus of $66, 1877 ,635,
the latter contends that there will be deficit,
if none of the expenditures enumerated in his
schedule are, deferred, of $i54,339, 2O2. The
difference between the two estimates is con-
sequently 1921 ,O76,S37. When doctors dis
agree SO widely who is to decide, and what
confidence can the public be expected to
place in their statements? Our opinion is
that the truth lies between the two extremes,
and that there will be neither the enormous
deficiency predicted on the one hand nor the
surplus on the other at the end Of the fiscal
year. There will probably be a deficit, but
a much smaller one than Mr.. Delmar would
lead us to expect, and all these statisticians
will prove to be at fault.