Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-05-14
the current expenses of the govern
rnant the traa Snr-u vii hacin the newt

the current expenses of the govern
ment, the treasury will begin the next
fiscal year without any reserve or
surplus. The government will have
only its future income to meet the eX-
charges with which the
billion-dol1ar congress has burdened it.
The regular annual and permanent
appropriations demand about $500, 0OO,-
600. This extraordinary sum must be
paid out of the revenues of the current
year or the public debt must be in
creased, unless the general govern
ment proposes to follow the example
of some of the states and repudiate its
obligations. What are the chances
that the government will be able to paw
its expensive way with its income? Ac-
cording to Secretary Window the re-
ceipts for the year will be S37S, 900, OO0
Comment upon these figures is unneces-
sary. They speak for themselves
The estimate, of course. is not correct.
1t is simply a conservative surmise,
but in view of the new tariff law, the
full effect of which is not vet ascer-
tanned, the revenues are quite as likely
to fall below as to go above the amount
stated by Mr.. Window. If we assume,
however, that they will amount to
500, 600, 900 the outlook is not much
brighter. There must be an enormous
deficiency. In consequence of the alb
sofute control by the republican party
of all branches of the government the
United States are not able to pay their
way through the coming fiscal year.
and new debt of from $3.50, 900, 900 to
$500, 900, 900 must be created to meet the
emergency.
To the extraordinary expenses of the
year there must be added about $50
600, 900 of q per cent. bonds that fall
due on the 1st of September. Secretary
Foster has practically admitted that
he cannot pay this debt, which will
not be much if any larger than the
contribution required by the statute
for the annual payment to the sink
ing fund.
The government is going backward.
Republican extravaganza has destroyed
the surplus. The treasury is slipping
back into debt. We are no longer
meeting our obligations. The billion
dollar congress has made ducks and
brakes of the public money, and al
though we are not at war nor seriously
menaced, and although our income is
abundant, we are forced to face the
necessity of increasing our debt in
order to bestow largesse upon the
favorites of the republican party, pen
sion agents and other enemies of honest
soldiers, politicians who seek votes
with public buildings and river and
barber improvements, subsidy hunters
and a swarm of henchmen for whom
new offices have been created. The
country has been robbed by Mr.. Reeds
truly business congress of all that it
has, and of more.
The wiping out of the debt has been
stopped for time. and it becomes the
duty of the new democratic house to
face the situation without fiinching.
Economies must be inaugurated, no
matter who may be hurt. The govern
ment must be bought back to the hon.
est paths of thrift and prudence. Tariff
taxation must be reduced that revenues
may be increased. Mr.. Harrison and
his senate may do as they will, but the
democratic party must exert all its
pow err to the healing of the financial
ills with which the country has been
afflicted through the brief ascendancy of
the party of monopolies and trusts
n V World