The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1891-01-22
THE BANKRUPT TREASURY.


As well as is generally known that the
large surplus in the National Treasury at
the beginning Of the present administra-
ton has already been squandered, and
that there will at once be a great deficit,
unless money Is borrowed. and new debts
contracted which will require more taxes
to meet, the exact situation Is little
known outside official circles. Senator
Carlisle has prepared statement OF the
squandering Of the surplus, which he
will publish in the February Forum. In
lief it Is this:-
Al Ne beginning OF the Harrison adj
ministrars-n. March 4, 1889. the cash
balance in the s-easury, which was sur
plus, amounted - s150, coo, 600. At the
end of this fiscal year, s1ne 30, 1891, there
will be deficit of Sl4, 00~, N. and at the
end of the next fiscal year, - 30, 1892,
o deficit of $S4, ,0O0, 600.
This Is the inevitable record Of this Re-
publican administration, because the
legislation that has already been enacted
prevents the decrease Of expenditure.
There can now be no turning back.
The increase of the expenditures OF the
National Government has been very much
more rapid than the increase OF popula-
tion. The following parallel tells the
story of Republican extravagance in spite
of Republican promise and prediction:-
PROMISE AND PREDic- TIE PERFoRMAScE-
TIoN Senator Carlisle shows
Mr.. Garfield, In 1879, that while the popula-
when he was Chairman ton In 1890 was only 10
Of the House Commit times as great as in 1870
tee on Authorizations. vet expenditures we're
speaking for his party more than 100 times as
and apoiogizing even great. In 1910 the ex-
then, long before thependitures per capita
time of the heaviest ex- were 70 cents; In ley0
penditure, for the costthey were s4i9. While
Of the Government, the population was nine
said:--.It is manifest times as great, the per
that the necessity ofcapita expenses OF the
expenditures does not government was 4e
keep pace with thetimes as great And
mere increase OF mum the ratio OF increase Is
bers; and while the ecoustantly becoming
total sum of moneys larger, although this Is
expended must neces- a time Of peace The
sarily be greater from expenses Tor the nscrl
year to year theyear 1891 are greater by
amount per capftal2 per cent. tnan 1or
ought, in all well regu-the preceding year, al
lated governments nthe population has in
time of peace. to grow creased only ~ per
gradually less" cent
PROMISE AND PREDIc- THE FACTS SEvERrHK-
TION AGAIN. LESS
General Garfield said In 1879 pensions con-
In 1879 in the same sumed only SIS 30, 600
speech: : we may But in 1890 this was in
reasonably expect that creased to S1O6, ,936, 900.
the expenditures for This year it will be
pensions viii hereafter s133, ,OU0O0O; "and the
steadily decrease un- country - says Senator
less our legislation Carlisle ''wih be unex.
should be unwarranta- ,pectedly fortunate u
bly, extravagant." the expenditures for
this purpose stop short
of $500 900 per an
num-"
Senator Carlisle's conclusion Is this;--
at is the confirmed and incurable habit
of the party now in power to dispose of
the public money In wasteful and ex-
travagant manner, and there is no ren-
son to suppose that it will cease to pursue
this couIse until the treasury is exhaust
ed, What was two years ago the richest
public treasury in the world will be sub
stantially bankrupt long before the term
Of the present administration expires"