Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1891-02-28
SoUANDERED MILLIONS.

Senator Carlisle Discusses "ths vs9ishlng
surplus"-He shows a Deficit 81 ss4,-
0O0,O 900 Fo, Next Year-A Tale 9f Repub-
lican Extravagance and High Tariff Tax
alton.
Everybody has known that the Re-
publican majority in Congress has about
succeeded in squandering the great sur
plus in the Treasury. Everybody has
heard intimation, too, that deficit Is
likely to take the place of the surplus In
the near future Republican Senators
themselves have made public statements
which showed that the possibility OF
deficit was looming up to disturb the
peace of the Republican lawmakers.
The quiet haste with which Speaker
Reed and 'he small cabal now running
the House of Representative let the di-
rect tax rcfunding bill drop was another
indication that the bottom Of the Treas
ury would soon be reached.
The exact state of the Treasury and
its future condition have thus come to
be subjects of speculation and prophecy;
but there was no trustworthy informa-
ton which took account of the future
demands upon the Treasury together
with its resources for meeting them.
Sucn d statement h; now been made
by the most competent authority in
public life, Senator Carlisle, of Ken
lucky He does this in a striking article
in the Forum Magazine for February,
entitled "The Vanishing Surplus"
Senator Carlisle finds that the condi-
ton of the Treasury at the close of the
present fiscal year, June 80 1891, will
be approximately as follows;
ASSETS.
Available cash on hand July I, 1850,
including redemption fund.-. Sill 029 107
Receipts 3s7,0O),0G0
Total. si0S ,029, 107
LIABILITIES.
| Ordinary cxpcnditurcs,..........s s379,OOO,OO1
Redemption of Nation bank notes 2l,00j0 %
Rebate on tobacco and snuff f........ 100000
| Purchases of bonds for the sinking
fund, and other rcdemptions of
debt, with premiums, as per Sec.
retdry's report ort.................... ll0,000,000
Total S5l2 600 600
This shows deficit of S14, 4,OOO, 900 for
the year The account for 1892 will
show ii much larger deficit. Here is
Mr. Can isles forecast of the condition
of the Treasury at the end Of next year:
ASSETS
Revenues from all source. $4,000 900
LA LlAblLiriES' ,,,oo, ma
to %D Su% oitmrts
according TO the secretary's re.
port 357, s52 2o9
Pension deficiency. cy.'''..'''''''.''.. 25'OJO'ooo
HNeTs anu l"rDor''''''''''''' to'so'a 40 90, a2O
-
Total.............,,,.... si57,o4l,3'7
rms SHOWS aehelt OF Sof'o4f'oo' on
July /, 1892, If the requirements OF the
sinking fund law are to be complled
with, or deficit OF S3i' sl9, i30 II moth
Ing whatever is to be paid on that ac-
count.
While Senator Carlisle does not claim
absolute accuracy for these estimates,
he gives good reasons Tor belleVlng that
the deficiency Will in each case be above
rather than below the amounts stated
Some interesting comparisons are
made by MIR. Carlisle to SHOW now rap
idly the expenditures OF the Govern
ment have outstrlpped the rate at which
population has grown. wv nile our
population,' he says, IN ls9o was only
sixteen times as great as IN l'eo' our
upon the interest anu pIincip"l an u sns
pubic deot' were more ',iail lou 'i'i,e'
as great III otn.i r oao ~, J., 1,nn 10
tion increased from 1's'''.if IN III i'oo W
o!'4So'o4o IN losV' "hile MI. sio ~. .''r".s a ,
annual expenditures, eAcluu,"s pay
mcnts on tne pr'iicip't anu >, 'iv1eoo n,n .oo - -
the puohc aeo'' rose iroih 7l''i''''- ~
Another interesting comparison is the