Alma record. (Alma, Mich.) 1878-1928, 1888-10-05
The Surplus Buga boo.

The democrats have been very industrious
In cultiyating alarm about the surplus. They
have said that or sis is imminent, that the
money Of the country has been pouring into
the treasury in such excessive quantities as
to inevitably bring Oh a business paralysis.
There are two or three big facts which show
that the panic predicted by bowling demo-
cratic ''reformers' can have no cause in
actual conditions The volume of currency
in circulation is greater to-day than 1t ever
was before. The evil OF the treasury surplus
has been grossly exaggerated for partisan
purposes. On July ], according to the state
ment Of secretary Fairchld, the treasury con-
tanned exactly Sl5i, 7l0,6D in excess OF i'm.
mediate public needs. The amount OF sur plus
last year was SSj, 0)0OJO, a large part OF
which was due to the fact that congress
pursued Diggardly policy, cutting down
appropriations for many objects far below real
pecess ties aud making no provision what.
ever for the improvement OF rivers and
harbors, 10 say nothing OF coast defenses and
the rebuilding OF the navy. IL has been es.i-
mated that tue surplus for the present fiscal
year will be SO 0t0 900, but 1t will probably
fall below these figures. 1t could be largely
diminished by bond purchases IL the treasury
would consent to follow the wise advice OF
Senator Sherman and 90 into the business OF
reducing the public debt For the next fiscal
year the excess OF receipts, even without any
purchases OF bonds, will not be more than $l3-
00D, OO1. When II Is considered that we have
defenseless coasts rotten aud preposterous
navy and great debt to paw, the whining
In regard TO the surplus and the dismal pre-
dctions OF a financial collapse are palpably
absurd. Moreover, Il is to be borne in mind
that $4U, 100000 OF bonds will mature In
1891, aud the government must make ade-
quste preparations for their redemption. -
Cineisndtl Times.
Another Phase of free-Trade Folly.
Accord ug to Nr. Mills the effect Of his bill
would he a reduction OF about SIS, Co., 90 In
the annual revenues, chiefly In the receipts
from customs duties So great an aggregate
reduction could not be expected, for the in
crease OF imports under lower tariff rateS
would undoubtedly offset much OF the loss OF
revenue from an enlarged free list But on
the supposft on that Mr.. Mills Is right In re-
gard to the amount cut Off by the pend ding
revenue bill his recklcssness Is brilliantly IL
| Illustrated The appropriations made by con
| gress for the next fiscal year come within
| $4,000, 900 OF the total revenue for that year
as estimated by the treasury department.
| The department in making It's estimate did
| not, of course, take into account any falling
| of In the governments income by reason OF
changes in the tar * or intern al revenue laws.
Suppose that the Mills bill should become q
| law and suppose II should slash down the rev.
enues to the extent Of &75. 400. QUO. Then the
receipts for the next fiscal year would
fall &82,OOOOo0 below expenditures That
kind OF inanciering may be the height OF
democratic wisdom, but the country wants
none Of it-certa My not In view OF the fact
that we need a navy aud coast defenses and
m ust redeem the Al pr cent bonds within
| tn rec years.-CL,ci.nati Times.
| CIevelnud's Accounts.
1 - lat ha ata at
Of Charleston earthquake sufferers, $40; pay
mcut of taxes In Buffalo. $1,000: for buying
| Hls own reelection $4,000. Mr.. Cleveland
| La nothing IL not selfish His Aelfshnras Is