The daily Argus. (Rock Island, Ill.) 1873-1877, 1874-02-17
special Telegram to the n Y Tribune.

oughly Alarmed.
Special telegram to the N Y. Tribune.
WASHINGTON, Feb. l2.-Mr. Dawes de-
ivered q two hours speech onthe finances
to-day, that attracted the close attention OF
the entire House. 1t contained aciear ana
authoritative exposition OF the condltion OF
the Treasury, and its prospects Tor the re-
mainder of the present fscal year; Wig
orous condemnation of the extravaganza
thet has characterized the legislation and
administration of the Government of late,
and an earnest appeal for economy and re-
form. The speech will be certain to fur
nish abundant texts for the Opposition
newspapers and orators in the campaign of
next fall, and yet, if its warnings are heed
ed and it's advice followed, it may prove of
incalculable service to the party in power,
by saving it from impending defeat. 1t is
as a friend that Mr.. Dawes delivered his
cutting rebukes, and if his party associates
do not profit by them he cannot be blamed
for the result.
The speech was not relished by most of
the Republicans. Some said, when talking
Of it afterwards, that it was unwise :;
others, that it was the effort
OF a chronic alarmist; and the SUI
perseryiceable partisans declared that Mr.
Dawes had made his regular annual at
tack upon the Administration. The more
thoughtful and prudent members, how
ever, said that the speech was just what
was needed at this time when the House
is faltering in the path of retrenchment
Mr.. Dawes showing of the condition of
the Treasury was more encouraging than
most of his hearers anticipated. Reckon
ing all the appropriations for the present
fiscal year, and offsetting them with the
estimated revenue, showed adefcit of $52,-
100000; but when the outstanding, unex-
pended appropriations of previous years,
which will lapse and be covered into the
Treasury, were deducted, there would re-
main, he said, surplus Of $40, 3OS, 600.
The Treasury began the year with $780,
100000 on hand, and would therefore, If
this estimate were correct, end it with
about $2OO00,0O0 surplus, having in the
meantime increased the debt $9,000,00O.
But against these $20,000,0O there were,
Mr.. Dawes showed, heavy prospective de-
mands, the Deficiency bill the Southern
Claims Commission judgments, the Mixed
Claims Commission award, and the Dis
trict OF Columbia claim, reducing it to
about Sl0,0O0,0OO, balance altogether too
small for safety. If Congress did not pro-
vide for larger balance unforeseen contin-
gencies might arise that would send the
Government to protest
Mr.. Dawes was not in favor of more tax
alton. The Government had never in
creased taxes in time of peace to pay its
current expenses, and to do so would be
discouraglng to the people, whoare just re-
covering from the panic. An addition to
the debt he deprecated even more strong
ly, and said it would be fatal to the credit
of the country. To borrow money for the
ordinary wants of the Government would,
rs it did in Buchanans time, be sure evil
dence OF the decay of the party in power
The remedy for financial difficulty was in
retrenchment and economy.
Mr. Dawes presented an array of figures
to show how the expenses of the Govern
ment have increased through inexcusable
extravaganza This statement of the ex-
penses since Grants Administration began
and the debt paid each year may be thus
tabulated
1s69-Expenditures. 1922 100000 Debt paid Not
1s70-Expenditures sO9,OOO,OOO Debtpaid s1O1,
OOO,000
1s71-Expenditurcs.. s92OOOOCO Debt paid "a
1S72-Expenditures. 277,OOOOOO Debt paid. a.
1s73-Eypendltures 29O,OOO,OOO Debt paid. 48,
OOO.O00.
1874 Expenditures. sl9652, OOO Debt paid. None.
The figures for the present fiscal year
show the amount appropriated The debt
instead Of being reduced has been increaf-
ed S9,0O0,000. In pointing out the proper
places for retrenehment, Mr.. Dawes dwelt
particularly upon the public buildings, and
Custom house service. He had list of
twenty ports of entry read, where the re-
ceipts do not equal the expenses for salar-
les, and referred to the extravagant action of
the last Congress in creating sixteen new
inland ports with retinues of officials whose
places are nearly all sinecures He had a
letter read from a man who was appointed
at one of these places at $1,000 year,
and who, finding there was nothing for him
to do but draw his salary, had written to
his Senators that the office ought to be
abolished, whereupon they had him turned
out and another man appointed. Dawes,
in conclusion, after going over the ground
pretty thoroughly and pointing out the
chief leaks that could be stopped, said that
if Congress did its duty, there would be an
ample balance in the treasury without in-
creased taxation, or a new issue of any
form of Indebtedness.
Special to the n. Y. Sun,
WASHINGTON, Feb. I2,-The speech of
Mr.. Dawes to-day on the financial condition
OF the Government and the profigacy and
extravaganza of the Administration, and
he, , q a. Il