St. Paul daily globe., 1891-04-30
Will BE A DEFICIT.

While the president is limiting at
things that issue from Washington in
his reign for the benefit of the people at
large, and the league orators are rect-
ing the alleged achievements OF the
party, there is little disposition to dwell
upon the financial feature that is so
marked. When the present administra-
ton displaced that of Mr.. CLEVELAND,
the great problem was to get rid Of the
Sl20,000.000 surplus in the treasury and
check the flow in that direction. In the
life of a single congress the Republicans
have accomplished both OF these objects,
beyond all partisan cavil, and yet they
display remarkable modestyin claiming
the credit. Senator ALLISON and the
other experts who had charge of the
machinery for reducing the surplus
figured that there would be a healthy
margin after meeting all the Outlays
provided for by law. The surplus has
disappeared, and all the ingenuity Of the
most expert partisan mathematicianS is
unable TO work out a different answer
to the financial problems. The secre-
tary is shinuing about to find methods
to meet the obligations becoming due.
He has the past few days issued a cir
cular in reference to the AZ per cent
bonds, amounting to more than $50, 000,-
600, that are to be paid next September.
1t is limited to Wall street and the bond
owners that they may be extended at
a lower rate of interest. There will
be nothing in the treasury to meet them
with. Effort is also to be made to push
out into circulation the small change
lying about the vaults to the amount of
some $4,000, 900. These facts indicate
the simplined phase produced in the
treasury by the Republican possession
of all branches of the government.
When the Democrats held the house the
Republican senate would not allow them
to cut down the tariff wall so as to pre-
vent unnecessary accumulationS in the
treasury. The MILLS bill was refused
passage in the senate, nor would the
Democrats consent to the Republican
method of reduction by lavish and eX-
travagant expenditures; consequently
the surplus problem came to the Republi-
cans, under the administration of HAIR
RISoN, with control of both houses of
congress, for solution. The eviction of
the uncomfortable deniZens of the treas
ury has been swift and complete; not
only was the annual outlay raised above
| $500, 100000 per year, but S50,000,000 of
| revenue was cut off on single article.
| Wite all the scrapings out of the vaults
sand devices of the secretary, the fact
will be apparent at the end of the fiscal
| year that the expenditures are much
larger than the revenue, and there is
nothing on hand 10 meet the obligations
coming due. 1t will be necessary to
provide the means by the issu-
ance of bonds, and increase of
debt on increased taxation. This
is the situation that will be pre-
sented to the Democratic. house when it
conveneS. The Democratic policy will
be to pare down the expenditures so far
as the laws and general good will admit,
and increase the revenues by lessen
ing of duties, discriminating in favor of
the essentials of common life. But the
other two branches of the government
| will still be i'll the hands Of those who
have produced the confronting situa-
! ton. The Democrats will be unable to
enforce retrenchment and economy un-
til they come in control Of the senate
and presidency in 1898. This record of
Republican wastefulneSs and prof1igacy
will come into popular review in the
| camnaiUn next wear