New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-08-20
THE SURPLUS .BUGBEAR.
FREE-TRADE LEADERS ANXIOUS ABOUT
THAT CONDITION."
THE THREATENED SURPLUS WIPED OUT OF SIGHT
BY CURRENT APPRoPRIArIoNs-THE PUBLIC
DECEIVED BY TREASURY RACTICEs.

| THE THREATENED SURPLUS WIPED OUT OF SIGHT
BY CURRENT APPRoPRIATIoNs-THE PUBLIC
DECEIVED BY TREASURY PRACTICES.
lBr TELEGRAPH Tc THE TRIBUNE
Washington, Aug. 19.-Explanatory statements
from the frre-trade leaders as to the condition
which confronts us" and which suddenly seems
TO have gone back on u.s. are pouring In
Senator Beck, with his accustomed impctuosity,
pooh poohs the suggestion that the appropriations
made, or in conference and virtually agreed upon,
approach within twelve or thirteen million dollars
of the estimated receipts. lie proposes TO strike
ont from the estimated expenditures the sinking
fund item, on the ground that that provision,
though authorized by law, is much part OF
the surplus os any other excess of receipts over
expenditures But the figures in the hands OF
the Speaker and of Mr.. Holman fully sustain the
assertion that the appropriations of the Lth Con-
grcss have practically wiped the threatened surplus
for the current year out of existence.
Senator Allison is preparing statement, which
will be presented to the Senate in few days,
which will let in food Of light on this surplus
bugbcar 1t will probably be demonstrated as
fact-;vell known to those who follow the course
of the Treasury and are familiar with the out
standing obligations of the Government-that if
an accurate balance had been struck at any time
for several years such a balance as any business
private affairs, there would have been no such
enormous surplus in the Treasury as
Treasury figures have claimed. On the
contrary, if a proper estimate should be
taken of legitimate outstanding obligations of the
Government and Of the honest debts of the Gov
ernmcnt which have been either postponed or
the payment of which has been refused, it would
appear that the margin of receipts over expend-
tures is no greater than prudent business methods
require. -
The public has been deceived is this respect
largely on account of the method OF stating the
Treasury balances and OF the inferences that are
made from those statements. The practice is to
count the cash in the Treasury at the end OF any
given day as the net available surplus. No ac-
count is made in the estimates of the demand IL
abilities of the Government, OF the deferred pay
mcnts, Of the vast sums appropriated which are
demand liabilities upon the Treasury at certain
periods or of the amounts required to pay the
continuing appropriations authorized by statutes
and not by appropriation bills, which are to be
satisfied by taking the money from the Treasury
upon the order Of the proper officers. or Of the
large amounts required to pay the bills against
the Government in process of accounting which
are for services and materio rendered state
ment of assets and liabilities clearly showing all
the demand and deferred liabilities for which it |
is accountable would put very different face |
upon the surplus question. The Senate may per- |
IDS take measures to have such exhibit made. |