The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-10-11
I,,T ONE Tiiiso 10 30

The fact Is published that there Is nov q
Ium Of money, solid cash, In the treasury
IF the United states amounting to consid'
,rably over siOO,OOJO0O. The cash In the
vaults Ut Washington Is steadily on the In
crease year by year. and where the surplus
will stop II something Is not done to check |
It's accumulation soon, no man can tell
For government to hGye four hundred
millions OF money locked up in its treasury
vaults, is remarkable thing under any
circumstances, even whore the government
N ,csssites should call for such tremend-
is sum on hand, but it is doubly rema TX
able that such an accumulation should &C.
G IT when the government does not neeu
one.half the money to meet IT'S TO-
tai necessities. What has been WIT
messed in Texas within the asst
wear or two, wonderful increase in VII
ues and wonderful growth in surplus
moneys from the rate of taxation now es-
tablished, has on o larger scale been 90 ing
on in the United States, while the ofiic,s
and governments expenses have not been
increasing to speak OF values and imports
and businesses from which the taxes are
collected have been rapidly multiplying,
and as result the treasury surplus is
growing rapidly, taxation remaining at the
old figures. 1t is true the last congress
made fent of reducing the revenues, but
it was simply feint and unless the next
congress acts in the premises we are likely
to 60 on piling up useless MIL
lions at Washington. Manifestly there are
but three things that can be done, TO con
time robbing the people, for it is robbery
to take from them what the government
doesn't need and does not use; to invest the
surplus so that in some way it can bring
returns to the government or people, or 10
rsduce taxation TO the actual needs OF the
government.
1t is hardly necessary to argue the fact oil
extortion when hundreds of millions of dol
lars are taken out of tie peoples pockets
and out of circulation, for which there can
be under the circumstances no use mace
whatever but to help fill the public vaults.
If, because government has the power
simply to take from its citizens money, 1t
does. so, and inconvenience them
without applying the funds to the discharge
of any governmental obligations, it COM
mits virtually robbery, for it takes
something without giving anything in re-
turn. 1t is equally as absurd to talk about
investing this vast surplus. Our bonds
are going at premiums of Is and 70 cents o.
though at very low rate.of interest, and
it.would hardly pay the treasury under the
circumstances to buy bonds, especially as
better investments can be made tor the peo-
pie if other objections were not in the way.
The Federal government so far as buying
bonds is concerned is about in the on
dition Texas was in before the passage OF
our latest amendments, the premiums are
too high upon the bonds to justify the in
vestment by the state.
There is but one sensible solution OF the
whole matter, and that is to reduce taxa
ton. As the tremendously rapid growth
of the country continues to increase the
revenue and surplus with proportionate
rapidly, common sense and common
j lstice dictates that it is better to leave the
surplus millions in the hands of the people
aud in circulation than to lock them up in
Washington or pay spectators enormous
premiums upon simple and per cent.
bonds. These two or three hundred
millions in circulation are worth
far more than or per cent. to the people.
Let the bonds alone, therefore, until we
| CON call Thorn in dollar for dollar and re-
duce taxation to the exigencies OF gov
eminent. The more rapid the growth the
greater nece ,sity for reduced taxation, aud
if the democratic party fails to bring about
relief and stop such useless, inexcusable
and wholesale robbery of the masses by
knocking the high figures off the customs
duties, from which the bulk of the revenue
c,mes, the party deserves no further sup
p )rt from the country.