The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1889-09-12
KNOCKING OUT THE SURPLUS.
Our National Debt Increasing Under the
Republican Administration.
New York Herald

New York Herald
There is good Democratic campaign
thunder in the statement of the public
debt issued to-day. The debt has in
creased within the month S6,076,692,
and within the fiscal two months of
the fiscal year it has increased 81, ,094, ,OO3.
The contrast between July and Au-
gust, 1888, the beginning of the last
fiscal year, under the prudent admins
tration of Secretary Fairchild, is at
least remarkable. The debt was de-
creased in August, 1888. 81, ,324, ,676, and
during the two months of July and
August it was decreased S11, ,401, ,974-a
difference in the record Of the two
months Of $ls, 555,9T. This result has
come about this year in spite of an i'll
crease of over $5oO,OOo in the receipts
since July1.
, A part of the difference is accounted
for by the payment during August,
1889, of So, ,7SS, 1870 as premiums on bond
purchases, against $500, ,9s2 in August,
1888. The figures for the two months
were SO, sc, ,546 in 1889 and 81 ,40O, ,e19 in
1888. The difference is not due to the
fact that Secretary Fairchild's pur-
chases were so much smaller than Sec
retary WINDOWS, but that he bought
more largely of the four and half per
cent bonds at an average price of, 10s,
While Mr.. Window has bought more
largely of the four per cents at 12S.
|. This difference, however, accounts
for but $1,000, 900 of the increased ex-
penditures for the two months:
THE SURPLUS BUSTER.
Corporal Tanner, the chief of the
Pension Bureau, has made even heavier
inroads upon the surplus than he did
in July. His record for the month is
so, ,243, $50, and for the two months
$35, ,492, ,214 The total for the same two
months of 1888 was SIS, ,947,8 1888. The
total appropriations for pensions for the
present fiscal year is sS1, ,756, $50, and at
his present rate of progress the Com
missioner would exhaust the amount
in less than five months and create
surplus of twice the magnitude of the
original appropriation. 1t is expected,
however, that having paid some big
arrearages he will moderate his de-
mands little, and perhaps ask an ad-
ditional appropriation Of no more than
thirty or forty millions.
But the dashing Commissioner Of
Pensions should not be made the scape-
goat Of the increase in expenditure.
For the last three months the ordinary
expenditures Of the government, which
exclude pensions, interest and
premium, have shown steady advance
over those of 1888. In June the figures
were $40, ,s32, ,40S, against Ss,615,6i5 in
1888; in July they were s1s,277,s76,
against $l2,650, ,s99; in August they
were 13,e74,5S8 against $40, ,979,s72.
REVENUE RECEIPTS.
The receipts from customs show q
slight failing off during the past month,
being $2O, O,61s, 935, against s21, 1866, sos in
August, 1883, but there is compensa-
ting increase in the internal revenue
receipts, which are $l1, 1856, ,2S3, against
s10,es1, 1908. The total receipts for the
month just past were SS4, O,9o5 and
the expenditures s3S, ,269.249.
The total debt, less cash in the
Treasury, is now sl,0es, ,74o,e25. The
interest bearing debt is made up of
s13l, ,6s5, 800 of Al per cent. bonds, due
in 1891, and s6e3,141,ooo of four per
cent. bonds, due in 1907. The surplus
in the Treasury is now $40, ,4S9, ,sO9,
against se5, 1857 900 a month ago, and
$107, ,673, $40 on August 81, 1888.
Notwithstanding the adherence Of
Secretary Window to the conservative
policy of Secretary Fairchild in buying
bonds, the administration seems to
have been eminently successful in get
ting rid of the surplus. If matters go
on at this rate it may. be question
with Congress how to raise revenue to
meet deficit rather than how to re-
duce taxation upon the people.