Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1874-02-20
THE NATIONAL FINANCES.
Il. Dawes IN NJ sssSchnsstts.

On Thursday of last week Hon. Henry
l.. Dawes of Massachusetts,, chairman OF
| the Committee on Ways and Means, and,
by virtue Of his position, leader of the
House Of Representatives, made very
able, and, in many respects, remarkable
speech on the financial condition of the
Government. The speech bore the marks
OF diigont inquiry aud careful preparation,
aud, ii Is needless TO say was an earnest
argument in favor Of retrenchment and
against any increase of taxation. The
| speech was a warning TO Congress, the Ad-
mnistration, and the Republican party.
The Democrats are greatly pleased with it,
on account of its sharp and unsparing crit
iclsms of Congressional appropriations and
expenditures, aud in certain quarters 1t is
objected TO as furnishing ammunition for the
opposition. But the better class of Repub-
licans agree in saying that if the party can
not stand sEch criticism as this, il had bel
ter go down. Tho noticeable points made
by Mr.. Dawes are tho following:
The proposed repeal Of the tax nj on bank
checks aud matches will take from the
II easury 100000. Tho revenue from
bank checks is sl,6OO,OOO; from matches,
S2,50O,0O0. Should The law be repealed, the
amount that must be refunded for bank
checks VIII ch have already been purchas cd
would make an aggregate amount OF S., l00,-
OOO The prospective national balance
sheet for the year ending next June stands
thus: Total obligations of tho Government,
1898, S4G,O 900; total resources, S3I1, $50, DOL,
leaving total deficit Of So, O6G, GI9. 1t IL,
however, possible TO make very considera-
Bile reductions in the amount OF the out
standing obligations. This may in part he
attained by covering into the Treasury ma
ny of the permanent appropriations made
for specific purposes. There are, however,
considerable deficiencies to be reported.
There are Sl,0O0,OO0 in the Indian bill and
81, COCOON Of miscellaneous deficiencies in
Guiding claims. There must also be pro-
vided 5000 900 for the Southern Claims
Commission, $4,000 for the British Mixed
Commission, without counting the claims
from $1,000, OCO to $4,000, 900. made against
tho General Government by the District of
columbia. At the beginning OF this fiscal
year the Treasury had balance Of $50, OOO,-
OOO At the years close there will be but
slO,OO0,0OO in the Treasury, while during
the year the public debt will have been in
creased $4,000, 900. 50 small surplus Is
inadequate to meet possibl emergencies.
Tho National Treasury would be liable at
any moment TO go to protest. There are,
however, hopeful indications OF increasing
proSPv'i'y. Tho amount of Customs ro-
ceipts for the last ten days Is ,....L L.
cess of the amount received for the CORE
spending period last year. The sale Of
ncstaGe stamps for the last quarter, not in
Guiding official stamps, is ele ven millions
in excess Of the amount sold during any
previous quarter in the history Of the Gov
ernmcnt. There arc, however, causes for
the present ndition OF the Treasury. The
great reduction OF taxes and Customs du-
lies account for a very considerable portion
Of the diminution Of the revenue The alb
solute repeal OF certain take, alone lost TO
the revenue last year S2j,0ls, i6l. Red 10.
tons upon these articles and the fe>o list In
the Tariff biz hA@e 4lesscncd the reyenue
~ I'VE ,,Jctal sum Of S44, 3G7 1913. There are
three possible remedies: First, increased
taxation; second, temporary loan third,
reduced expenditures. The last remedy
alone is practicable. The United States
have never increased taxes t. derrav the
current expenditures. The peol lc would
be greatly disappointed, II. rs they are lin
ing tn emse'ves from m unplra lleled de-
preston, the burden OF taxation should be
increased.
Mr. Dawes thought economy possible in
1T at.11t
the prcseu' custom 81 large permanent APP |
propr"iions. He would modify tho laws
giving the Secretary of the Treasury large |
discretion for the refunding cr duties i'm |
properly paid. lie would abolish many |
Customs collection districts, and CONSOLE |
date others. There are nav thirty Gus.
toms collection districts where tho receipts |
do not pay the expenses. lie would prac- |
tico great economy in public works. lie |
would discontinue grants of the public do |
main, and abolish the custom of giving TO |
railroads an empire in the North, a zone in |
the middle, and principalities in the south |
ern part of the country. lie would consol- |
idate the eight navy yards into one. lilo |
would abolish the Office of Pension Agent, |
and make pensions payable direct from |
Washington. There are now siXly-eignt |
Pension Agents, whose salaries range from |
$4,000 to $4,000 year, a2Grcsatng in fees |
and salaries SiSl,9sl. lie thinks the same |
work could be done by the addition of S2O,-
GOO to tho clerical force in Washington. lie
would reorganize the Treasury Depart
ment, increase the rate of postage upon
bullion and articles of merchandise sent
through the mails, and would discourage
eNtravagant expenditures in The District of
Columbia. Mr. Dawes evidently hopes to
cut OFT from the expenditures every item
possible, and would seem to regard il bel
Ter that some deficit should arise, so long
as the Treasury drafts were preserved alb
solutely from protest, than that any taxes
should be imposed or increased
VT. Il MASS. RAILRoAD.-At a meeting
of the Vermont and