New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-18
THE SURPLUS NOT GONE.
SECRETARY WINDOW NOT ALARMED AT THE
PUBLISHED STATEMENTS.
POINTING OUT INACCURACIES AGGREGATING
sroo oco. ooo-AN ANALYSIS THAT SHOWS
THE SITUATION TO BE ANYTHING
BUT THREATENING.
rsr TELEGRAPH TO THE TRIBUNE

Washington, July 1s.-Secretary Nhluom """ - -,
ury officials generally do not feel alarmed over recently
published statements predicting great dehc' anu
general bankruptcy on the part Of the Government ny
the end OF the current fiscal year. Secretary "uo'
when his attention called this AFTERNOON W '"0
sensational statements. placing the dehct TOT 1o yea
all the way from s30.Oo0.0o0 to Sl5o'oOo'oVo SAL"
he had not even read them carefully but addec tat
he HAD no besitancy in saying that the Government
~ou,a MT 90 into bankruptcy for some time to come
CHANGING over the statements hurriedly, he pointed
ont inaccuracies In some OF them-tems involving per
haps 800 900 -purposely or ignorahty useu '"
fprcshadow, as told in startling headlines III tIc
Journals publishing them big deficit, vanishing
surplus and bankrupt Treasury; ana saiu ''at
he might consider IT advisable at later day 10 correct
tAsm. ,.,,
One ite. 20 which he called attention ana winch
vou,d GO far toward warding oil bankruptcy during
tho year and meeting possible deficit was inc s'o
900 Of surplus cash on hand IN the ireaSur! o
the LIST of the month, which these Democratic com
pliers had ignored entirely in their calculations An
other naccurcy pointed out hurriedy was In placing
the permanent annual appropriations at S1OloOooOo
and then adding gao 900 o00-the sinking charge ior
tire year-to the probable current years expenditures
when . matter OF fact, the sfoOooOoo for the SINK
ng fund forms part nearly one-han OF the pernsr
ocut annual appropriations This little slip, of course
halped the Democratic compers to the extent Of about
So0oOoooo In ping up the great deficit.
Secretary Window, however, Is not In the least dis
tsrbed by such statements and misatatements' ana
said he had doubt that the Government would meet
os obligations readily and promptly during the year.
So little frightened he feel at the outlook that re
said he not only expected the Treasury would pay us
bills promptly, but would continue 10 buy bonds as
heretofore II they were offered at reasonable rates IL
bondhoders got frightened at this bugaboo about Dig
defcit and bankruptcy staring the Government III INC
face al the end OF the year. then he might expect 10
purchase bonds at unusually low prices from people
who wanted TO realize while there was something lei'
In the Treasury. The Secretary will probably IN
few DAYS prepare statement that will show the Gov
crnment's resources and 10 be In nothing ko
so precarious and threatening state as Democrats
would have the people believe them 20 be-
A careful analysis OF appropriations probable ex-
penditurcs during the current year. and the resources
OF the Government. will show that the situation Is
anything but threatening. and that some OF the state
ments put out have been entirely exaggerated and
misleading. That this done with view To dc
preciating the credit OF the Government ana reject
ing upon Republican management Of the fiscal affairs
OF the coutry. cannot for a moment be doubted
fair statement Of the situation is as follows
Congress has so far passed or indicated pur-
pose Of passing, appropriations sggregating $685.
oOOOO and may perhaps add 10 this S300OOOOO
more 10 meet the Dependent Pension act charge ana
some other miscellaneous expenses under the teoeraI
Election bill. There is prospect that the River ana
Harbor bin may not become law; but granting that
70 Will, the maximum amount OH Appropriations ioi
this year will not exceed $500 900, 600 and, with the
tiOI 600 600 Of permanent annual appropriations
which include the sinking fund charge-thc total ap.
preparations win call for expenditure Of S4ooOOo
900 This IS without doubt an extremely liberal
estimate ~ the Aggregate OF appropriations, permanent
and annual for the current year. But, on the other
hand this amount appropriated, will not and cannot
all be spent by the end Of the current year. OF the
s26 900 900 River and Harbor Appropriation included
In this estimate, perhaps not more than S0,OOOoOO
will be expended during the year. This is liberal
estimate, and. in proof OF IL the fact may be oted
that Of the eel 900 900 River and Harbor appropra
ton Of two years ago. az 100000 st remains in the
Treasury unexpended This win relieve the strain on
the Secretary Of the Treasury and avert bankruptcy
10 the extent OF sl7 900 during the year OF the
g. 900 900 proposed appropriation for Notifications,
there will probably be go 100000 spent during the year.
II the bin becomes Law. This will help out tho
deficit by S4.0O0,0oO
in these two items is help Of at least S2O,OOO,-
900 TO avert bankruptcy leaving TO the Government
s47oOOO, 600 in appropriations sim 10 be met But
there another little fact that has been overlooked
by the Democratic compllers, bent on hurting IN,
annual appropriations used in their calculations about
@347 OOO,0o0 has already been appropriated In de
S Seso%s i aMs pa Of th Gss amount nearly
has already been paid out by the Treasury. In Other
words 900 OF the current years expenditure
already been met This little item. overlooked by thos(
who want TO make II appear that the Government !
going toward bankruptcy, helps 10 cut down al
possible demands against the Treasury during the ycl
IRON S490.0O0.OOO 10 100000 900. This is thC
greatest sum the secretary will have 10 meet and pay
BY July l. 1891. 4 fair statement OF his revenue
for the yearto say nothing OF nearly S1CO,
100000 available cash surplus now in the Treasury
will show revenues. based the receipts of tht
last wear. of at least Sal 1000 900 from customs. In
terna revenue. and receipts from miscellaneous
and S65.0000o0 from postal rccciptsa tOtl
Of 100000 revenue, against appropriation
calling for expenditure OF possibly S460000,O00
but probably not more than S4i0,000,000 during Tho
year.
This estimate and plain statement Of the fiscal situa
ton leave out of view Of course the possible effect O
tariff legislation the Of the Government
The Democratic estimates were based tariff legisla
ton which would reduce revenues at least S65 900 00C
during the current fiscal wear. OF cOurse the S65.
OOO00O revenue reduction bill not vet law and nc
suppose If IL ready for the Presidents sig
nature to-mOrrow that II would into effect begin
TO affect revenues. before January l. 1891. at the
earliest. AT that date the Government would have
had the benefit OF the present tariff for onehaf Of thC
current fiscal year and the reduction Of revenue
the remaining half Of the year would be less thar
S35,0O0,0OO; and this at the worst. wOnd leave
deficit Of less than $40. 600, 900 But reduction o.
much as s65,000,O00 by tariff legislation does not
seem probable now.