The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-05
The Surplus and Tax Reduction.

That there is likely to be a continued surplus
in the treasury over the ordinary expenses of
the government, so long as the present revenue
laws remain, is seen by those attentive to fiscal
affairs. This has called out propositions for the
disposal of surplus of public moneys, two of
which may be noticed. One is, that the surplus
be parcelled out among the States of the Union.
This, though 1t has been ingeniously argued, has
not SO approved itself to the common sense of
the people as now TO cali for elaborate state
ment of reasons why it should not be adopted.
The pablo senee is shrewd enough to see that a
debtor owing a large sum, upon, interest which
he must pay at short intervals, and some Of the
principal OF which he may pay off whenever he
pleases and thus save interest, would not be
deemed a good manager of affairs, ii he should
give away, or lean terms yielding no income
and not likely to insure punctual repayment,
the which good luck or
prudent conduct had put in his hands, and that
i5 would be wiser for him, with the cash lie had,
to extnguish SO much es he could of the debt
against him. And the United States has such
means, and owes such debts. It ewes over a
billion and quarter OF dollars, which Is
running upon interest 1t has the option to pay
over three millions OF the debt whenever 1t
pleases 1t must pay the interest on The prlnci-
pal unpaid, at short Intervals 1t is not good
sense, nor is it common prudence, to give away
or loan its means instead of using them to nay
the debts against it, while, because OF its
abundant prosperity, it Is easy TO do So There
is neither direct nor consequential benefit to
that DOdy-polltlc, which is the United states. In
the course that is proposed. surplus is in
hand. No way to use 1t SO well, so directly and
unerringiy, with IL to>pay off and take mp that
debt. Ii admits of no doubt that thus the peo.
pie of the Union are well served, and their
money SO paid as to rebound to their lasting ad-
vantage.
The ground upon which the proposition is
based is, mainly, that of the good to be done to
the people of the several States in the relief
given to their financial strars and difficulties,
whereby there may be more largely ana effectu :
ally carried within tue States and by State
governments enterprises purely domestic. This
department may not now make lengthy discus
sion of this topic in this feature of it. In the
Judgment of this department it is not legiti-
mate function of the federal government to
raise money by taxation to be donated to the
States. or to thus use money already raised in
that way. Nor is this uttered in ignorance or
forGetfulness of what men of might IN the affairs
and councils of the Union have heretofore done
and said on this subject 1t is to be borne in
mind that they spoke and acted up0n exist
ing surplus not needed for any public use then
sanctioned by law, not upon a prospective one
to be avoided by legislation, and in view of the
temptation which that idle money, incapable of
lawful use under any existing law, held out for
the broaching of new and, in their Judgment,
unwarfanted, perhaps improvident, govern
mental enterprises,
1t Is, pertars, enough foFthe present that she