New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-03

If il be the case that the heaviest cxpendi-
lures of the Government are in the first three
or four months of the fiscal year, We have
few questions to put to the friends OF the sec
retary. During the first six months of the
wear 1928 the revenue of the Government
was not affected by any financial disturbances
Nevertheless, there was an element winch
caused perturbation. That disorderng IN
Auence was the Presidential Campaign. Inc
fact will appear from q comparison Oh the
changes in the Public Debt before ana after
the Presidential election:
DECREASE OF THE PUBLIC DEBT BEFORE THE
ELECTION.
BY statement for August .............SlO 75o,o3o
BY statement for September. ....-.-- 1O,S2|,345
By statement for October. 6,22o,4l'
Total Decrease, months. go. SAG, 2o2,396
INCREASE OF THE PUBLIC DEBT AFTER THE
ELECTION.
By statement for November (De-
creased 81, l93,23O
By statement for December Qncrease). 1,GS4,3Oo
BY statement for January Qncrease)... 4O6,243
Net increase, months. $S92,32A
We do not deny that the customs receipts
are heavier in August, September, and October
than they are in November December, ana
January. The difference last year in favor OF
the three earlier months was about twenty
million dollars. Yet, if we compare October
with January we shall find that in these months
the customs receipts were about equal. The
quarterly payments, of course, correspond
with each other, the months being the first of
,,I
The interest payments do not at all affect
either month, since in every Debt statement
the accrued interest for the preceding thirty
days is reckOned as an addition TO the prln-
cipal We see, however, that while the Debt
decreased S5,22S,417 in October it Increased
$40G,243 in January. Yet we are told that
October is a very bad month for the Treasury,
and that the heaviest payments fall III the
first four months of the fiscal year
Now let us see how it is this year. Fonr
months have already elapsed, being one-third
of the fiscal year. BY the most careful and
liberal estimate we can make, the revenue oil
the Government has been rs follows:
From Customs, calculated on basis of
receipts at SubTreasury in New
York. ACKNOWLEDGEMENTS -SoVoVV'VOV
Internal Revenue, per official state
ment. NEUTRALITY-SUSPICIOUS. 33OOO,OW
Miscellaneous sources. say. 5000 900
e1o3 ooo 0oo
DEDUCT:
Decrease of Debt, per Off
cal statements. Summing 6,OO0,OJo
Four months interest on
Debt. including Pacific
Roilroad bonds and Com
mission to Syndicate of
three months interest on
S6O.OOOOO0, new Fiyes.-.. 35,0000O0
Premium on bonds pur-
chased in the panic....-.. 100000
Total Observation-Disclosures. 9S,OOU,OOU
Diligence ................-.-..s s'7oV,OVV'VVV
The above sum of $G00O0,O0O is the net
amount entered on the books as paid from
the Treasury in the four months for the or
binary expenditures of the Government, exclu-
sive of the principal and interest of the Public
Debt. But the aggregate for such expendi-
lures for the fiscal year 1928 was, by an
official statement of the Treasury Department,
over $l80,0O0,0O3, aud it is well known that the
appropriations for the current year are mil
lions greater than last years. One-third of
S1sO,OOO,OOO is $6O,OOO,0OO, so that if the
Treasury has really paid out in four months
more than One-third Of the cost of Gov
eminent for the year, the payments have
not yet been "adjustedD and entered on
tho Treasury books. 1t appears not to be
generally understood that the Treasury calcu-
lates its cash on hand from the Treasury
books, instead of by actual count, and
that the same method is followed
TO get at the amount of outstanding legal
tenders! We therefore regard the follow
ing facts as significant under the system of
political bookkeeping above and oftentmes
before described in these columns: /. That
the deficiency in revenue, or increase of the
Public Debt, for October is three million dol
lars. III. That the legal-tender circulation
has been expanded already five million
dollars above the maximum limit fixed by the
laws. III. That the dirty rags which repre-
sent fractions Of a dollar have within the
last two months been increased at least six
million in number, and in amount more than
three million dollars, so called. ". That a
picayune prize package scheme of paying out
silver tokens is resorted to under the pretext
of resuming specie payments in silver, but
with the real purpose of cOncealing the con-
dition of the Treasury, OF, at all events,
5iyerting attention therefrom until after the
November elections.
B4ZALNE'S CHANCES
Each day of the trial of Marshal BaZaine