The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-05-26
RAIDING THE TREASURY.
A Gigantic Political Plot of the Re
publicans.

"a 11RbQUlC FOllLlCdl F1OU OF CQ0 ne
publicans.
WASHINGTON, May 25.-Representative
Sayers of Texas, one of the leading demo-
Gratis of the House committee on appropria-
tion, is quoted in the Gazette as saying:
"lf the Senate shall pass the Mckinley bill
with its high protective features not ma
terially reduced, this government will have
to meet deficit of least $50, 100000 at the
beginning of the fiscal year beginning July
1. 1890. These figures are not my own, but
were obtained from the highest republican
authority, and are based on the assumption
that the appropriations for the coming fis-
cal year, with the exception of pensions,
will be largely in excess of those for the
present fiscal year.
WINDOWS ESTIMATES.
The present secretary OF the treasury es-
Inmates that the net surplus at the end of
the next fiscal year would be $43, 569, ,522 so,
but he made no allowance for the 81, 1854, :
Ala which Chairman Mckinley has esti-
mated as the reduction in the revenues
which the tariff bill will cause if it becomes
a law in its present shape. There may of
course be slight increases in the revenue
received under certain clauses of that bill,
but Mr.. Mckinley has officially stated that
Lo increase of revenues will arise from the
articles upon which duties have been ad-
vanced taking the bill through.
PENSIONS OVERLOOKED.
"Neither did the Secretary of the Treas
ury allow for new pension legislation. The
two pension bills which have passed the
House and Senate respectively, and which
are now in the hands of a conference COM
mittee, carry, according to the republican
estimates $50, 100000 and $3S, 200, 900 re-
spectively, and it seems certain that one or
the other of them, or compromise between
the two, will become a law at the present
session. In addition to this, it is generally
believed by well informed men of both par
ties that the regular annual pension appro-
priation bill will be at least so, 600, 900 short
Of the amount required by the pension office
for the next fiscal year.
REDEMPTION OF BONDS.
"Another matter which ought to be pro-
vided for now, although not coming within
the limits of the next fiscal year, is the
S117,969, 400 of AZ per cent. bonds which
will mature Sept. /, 1891. This deficit will
have to be met in one of three ways. The
law setting aside 800, 900, 900 in gold for the
redemption Of United States treasury notes
might be repealed and that money used,
but, speaking for myself, should oppose
with every means at my disposal any prop
osition to use this money for any other pur-
pose than to reduce our bonded Indebtedness.
ANOTHER PLAN.
"The next remedy would be to repeal
the law governing the sinking fund and to
use the money thus accruing, but that
would be an outrage upon the tax payers OF
the country which should never be forgiven.
The last, and by no means the least objec-
tionable method, would be to borrow money
by issuing additional bonds. regard the
situation as a very grave one, and what adds
to the peril is the fact, which am perfectly
certain of, that the men who control the re-
publican party are deliberately planning to
make deficiency for the accomplishment
e oortait, nr,dc u