Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1890-07-31
The Surplus.

throughout the entire country practical
~ unanimous desire for reduction Of
the surplus. just in what form or by
what method that reduction should bt
accomplished has been the subject Of
much difference OF opinion, says the
Baltimore journal OF Commerce. II
was attempted by the last Congress on
the line OF lowering custom duties and
failed. 1t is now being tried by the
present Congress in two ways-tirst, by
increasing the pension list. and second
by reduction OF custom duties. When
the last mentioned shall have passed the
Senate, it will have been enacted into
law and will be the method of reduction
for the next four years
Before these measures, however. have
been passed or opportunity given to test
practically their results, the country is
startled and appalled, by the cry OF de-
ficit of one hundred millions. infinitely
more dreadful than a surplus and more
difficult to handle.
Now these are large differences, from
over a hundred million surplus to hun
dred million deficit-too large to be hon
est figuring the character of the
authors of them should determine their
value unless one prefers to be the will
ing tool Of political jugglers. Secretary
of the Treasury Window says in an in
terview on the subject. 'that there will
be no deficit" and believes it. evidently.
else why buy bonds for sinking fund on
July "a, with ono hundred millions de-
ficit confronting him. Senator Cannon,
chairman of appropriations committee of
the House, takes the same view and
gives his reasons as follow He says:
Senator Allison states the aggregate
probable regular appropriations of the
present session at S359, 100000, which
sum includes the whole amouHt of the
Sundry Civil bill as reported to the Sem
ate, and the whole amount of the Forti-
tication bill as it passed the Senate and
is now pending in conference, which
two bills will almost surely be reduced
in the aggregate $5.000.000 in confer
ence between the houses. He also in
cludes in the $3.50. 900. 600 the $31. 5OO,-
000 deficiencies, which have been APP
propriated for, and s., 100000 estimated
yet to be provided for the. service of the
last fiscal year.
Deducting the s.. 900. 900 probable re-
duction in conference. leaves $3.50, 000.-
600 total probable appropriation at this
session of Congress as estimated by
Senator Allison. From this sum should
be deducted the deficiencies. $50. 000.-
600 actual and estimated, which are in
no sense chargeable against the reven-
ues for lS9l.or as part of the expenses
of the government for that year. thus
reducing the appropriation OF the SEES
sion to S317 800, coo for expenses on ac-
count of the fiscal year 1891.
Again. of the $3t7 100000. which in
cludes S23. 700. 900 for rivers and har-
bors, $4,000 for Notifications, So.
geo 600 for the navy and So. 600. 900 for
sundry civil expenses at leaStS20. 900, COO
will not be expended during the fiscal
year. 1891. which would make expendi-
lures according TO the appropriations,
not exceeding 1927. 100000, to which
sum should be added the permanent APP
propriationsSl01, 5000. 900, for the inter-
est on the public debt and to meet
the requirements of the sinking fund,
making IN all 1899, 100000 chargeable
against the revenues for 1891. If the
sinking fund be deducted from this sum
their remains $3.50, 100000
There is no reason why taxes should
be levied or continued to further pro-
vide for the sinking fund, as am ad
vised at the Treasury Department that
the reduction of the public debt is at
this time in round numbers 1926, 000,-
600 in advance of the requirements of
the Sinking Fund act
The ordinary revenues of the govern
ment for the fiscal year ended June 80.
1890, are reported by the Treasury at
$402. 083. 900. Under existing laws there
is no reason to anticipate less sum
from the ordinary revenues during 1891.
The postal revenues for 1891 are esti-
mated by the Postmsster-G General at
Sos, Ala 900, making a total of S467,-
497, 900.
Deducting aggregate appropriations
of $3.50. 100000, there will be surplus
of $117. 497 900, which is more than
ample to meet the requirements of the
no 2 pension law and the reduction of
taxation from the enactment of the Me
KiHley bill, estimated at 500, 900.
This summary of the situation from
the highest authorities should tend to
allay any feeling of alarm as to deficit,
and cause one rather of confidence, in
THAT we are approaching time when
revenues and expenditures shall more
equally balance. and the difficulties and
dangers OF either surplus or deficit be
eliminated from the situation
Washington Letter.
tFtom our Regular Correspondent
WARRINGTON. ID. c., July %, 1890,