New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-08
INYEsTMBN1 NOT ExTR4Y4ezN g J.

yuursTxEN7 NOT EXTRAVAGANCE
pres;dent Harrison speaks with sense in re-
gard TO the Treasury surplus. Eor 1"en.y
wears or more IT has required more pao1osc
courage and readiness to sacrifice sen Ior cuo
uubl;o good to advocate reasonable and WISE
expenditure than to play Treasury watch dog.
With the Consciousness of a vast war ueo@
which no one expected to see reduced more
than half in twenty years, there came siooA
the war a strong popular demand for economy.
Any expenses that could sateiy 90
deferred. the public wished 10 nave
deferred, that the burden OF oeo'
might be lightened as fast as possible counO-
ing upon this popular spirit OF economy many
cheap demagogues made IL their sole funcnon
in public life to bark at all expenditures wise
or unwise. Payments in various direcuons
were out down or postponed TO the very verge
of mesnness or dishonesty, II not beyond
Habits of thinking were formed which have
rendered It rather daring thing for states-
man to advocate large outlay OF public money,
even though returns many fold were certain
Even in small things the same spirit has Deen
shown. President Cleveland did not hesioaee
to insult Union veterans with his sneers' IN
order to save the Treasury contemptibly snal
expenditures which decent sense OF graa-
tude had prompted.
But misery stinginess is not economy, nor IS
Il q trait beloved by the American people In
their sober thinking, voters realize that me-
cessity for postponing any outlay that Is really
wise or needfuI has passed. With no. taxes
which anybody feels at all, unless it be some
of those who use tobacco or drink liquors, the
country has now an OVERLOOKING Treasury. Inc
question now Is how to reduce revenue 30 iar
as to avoid embarrassment In that state OF
facts the President declares that it is the pafs
Of wisdom to consider at the same time wnetner
expenses win be presently needed for the Ma
TONS honor, safety or prosperity, and to realize
that such expenses ought not to be deferred
any longer. When such OUTLAWS carefully con-
sidered, have been added to the expenses OF a
Government economically administered. the
remaining surplus revenue, and only 50 much
as may then remain, the President urges may
properly be cut off.
To appreciate this position Il Is only neces-
sary to assume That some definite expenditure
is by the whole Nation regarded as essential
TO its safety or welfare. For instance, let II
be supposed that an outlay Of 100000
within four years for defence Of the great sea-
ports is 50 regarded. Then the question is
whether this ultimately necessary expense shall
still be deferred from year TO year, in order
that debt may be more rapidly reduced, st the
risk that it may become instantly and impera-
lively necessary ut time when IT cannot be
met at ALL or can be met only by borrowing
money. TO state the question is to answer IL.
There can be no certainty that the revenue
win continue as large as It has been. In
single year the revenue from customs, internal
taxes and public lands decreased S27 Geo. 900
without any change of laws. only four years
ago. Serious prostfaHon Of industries would
produce still greater reduction. Neither can
there be any certainty that the Nations reia-
tons with foreign Powers win always be such
as to render coast defence superhuous, or an
nual expenditures easily and certainly neasur-
able.
The same principle applies TO any outlay
that would clearly and surely increase far more
largely the National production Of wealth. Let
It be supposed, for instance, that another rail-
road would as certainly add several hundred
millions to the Nations wealth as the Pacific
railroad did; would it be anything less than
superlative folly 10 let the railroad wait and
apply the money to the purchase Of bonds not
yet due? No outlay Of that nature happens to
be contemplated, but it is question whether
some hundreds of millions yearly might not be
added TO the National wealth by wiser policy
respecting foreign mails and lines Of communi-
cation. The many millions which England has
spent in establishing such lines have been seed
which has returned surer and larger crop
than any other.