The Republican. [volume] (Oakland, Md.) 1877-current, 1890-07-25
A SURPLUS, NOT. A DEFICIT.
Some Loose Estimates Intended to Make
Uncle Sam Out Bankrupt.

uncle sam Out a Bankrupt.
WASHINGTON. July 16.-The In
dian appropriation bill reported to
the Senate from committee to-day,
calls for 81, 1881, an increase over
the House hill of S1.l32,00G The
Senate has increased nearly all the
appropriation bills over the amounts
fixed by the House. If it were not
for this increase, the aggregate of the
appropriations would be considerably
less than the estimated revenues. in
stead of apparently exceeding them
by S9,OO0,OO0. The very full state.
ment of the condition of the appro-
priations printed in the Philadelphia
Press on Monday. has started "a great
deal of talk in Democratic newspap-
ers about "the terrible deficit, (which
they assert will eXist,in the Treasury.
If they had adhered to the truth as
originally published in that paper,
and not attempted to distort the facts
there would he no grounds for this
talk. One Philadelphia: newspaper,
printed a statement on Tuesday
morning which made the deficit
S144,00O, 600. This has been widely
copied in the Democratic papers and
printed with flaming headlines.
There would have been less excuse
for this statement if the Press had
not given the correct figures on the
dav previous .and thus started the
discussion of the subject.
in this statement of "alarming
bankruptcy" the revenues of the
Government were.stated at 1886 900,
600 whereas the Secretary of the
Treasury in an official report made
to Congress last December. estimated
them'at $3.50, 100000 difference of
Sl15,000,000. This is a fair illustra.
ton of how the Democrats made up
their figures.
The truth is that Secretary Win
dom now estimates the revenue at
about S20,000.000 a.more than the
amount stated in his annual report.
The condition comes from a remark
able increase in the postal receipts
and in the honest collection of the
revenues, which will be greatly
nnrnlnntn1 thn mi q r,af i,-I,
customs bill, so that the revenues in.
stead of being $3.50, 100000. will, Sec
rotary Window estimates, be about
Sf47 100000 AZ The custom receipts at
New York, for last month alone, was
S4.000,000. greater than, the cores
bonding month last year. The Sec
retary'S estimate of S470,000,000 in
cludes, of course, the effect of the tar
if bill.
The present surplus in the Treas
ury is SIS, 500, 900. The national bank
redemption fund, which has Just he
come available. .adds $4,000, 600
more. This will make the fund now
in the treasury as surplus, Sl94 800
600. The. theory of Congress in turn
ing that fund into.the available mon
ey in the Treasury WAS to get it into
circulation, and, unless it is to be
expended, for some purpose the OBJ
j ect of the law would be defeated.
Hence, if it is used to meet apprO-
priation bills for public improve
ments, such as ,rivers and harbors,
Notifications and increase of the
navy, it Will be merely carrying out
the purpose OF law which, so far as
that law is concerned, was approved
by every Democrat in Congress.
AS to the sinking fund the late
Senator Beck. who was the leader of
the Democrats in the Senate, intro
duced bill at every session of Con-
gres s,.for many years providing for
its suspension. Nearly every Dem
.ocrat i'm Congress has publicly favor
ed such legislation. Several Demo.
Gratis have introduced bills to that
effect at this Congress. and some Of
them have made speeches declaring
that an Injustice has been done to
the people of this generation in con-
tiruiDg these annual payments into
the sinking fund when it has been
oyerraid by some 500 900, 900. There
j. not the least necessity, therefore,
FOR the sinking fund, according to the
best Democratic authority in both
houses.
Senator Allison states the total of
the regular appropriation bills to he
S359, 900, 900. The permanent annual
appropriation bill, exclusive of the
sinking fund. amounts TO 1900 900.
making total of S4l1 100000 against
estimated revenues Of SAC, 900, 900,
leaving a surplus of receipts over eX.
penditures of $4,000 600. This is
exclusive of the disability pension
hill. Senator Carlisle, in public
estimate, states that no more than
twelve to fifteen million dollars can