Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-09-03
TOM REED ANSWERED.
HIS RIDICULOUS CLAIMS PUNCTUREO
BY HOLnAS AND SAVERS.

Hard, Cold Facts Showing That Reeds
Congress Com peli-d Appropriations by
the Present One-Pubiic Debt Reduce
tion by Cleveland and Harrison.
When the first session of the Fifty-first
congress ended The World predicted
deficiency in the treasury. The secre-
taries of the treasury under the present
administration have concealed the deli
cheney by counting among their avail
able assets uncurrent funds, the bank
note redemption fund and the gold re-
serve and by holding up appropriations.
This fact and its true meaning have been
exposed and explained by The World
from time to time, and now representa-
tives Savers, Dockery and Holman, after
an examination CT the government &C
count for the past two years, verify
The Worlds predictions by showing
that there is a real deficiency of more
than 800, 600, 900.
Last year, because of the extrava-
gance of the billion dollar congress, the
secretary was unable to meet the require
ments of the sinking fund. and this year
he will fail again to pay the amount re-
quired by law TO be set aside toward the
satisfaction of the public debt.
Messrs. Holman. Dockery and Sayers
estimate that the deficiency will be $780,
600, GOO besides the sinking fund. If to
this sum there be added the amount of
the sinking fund due for the current fis-
cal year, SiS $50, 900, the $50, 900, 900 or
more represented by uncurrent moneys
and moneys owing to reserves and re-
quired for appropriations, the deficiency
on June 80 next will really be much
more than $130, 900, 900.
The result has been accomplished by
extravaganza. During Mr.. Harrison's
administration S65, 600, 900 less of the
governments bonds have been retired
than were paid during Mr.. Cleveland's
administration. Besides this the actual
lack of present funds compelled the adj
ministration to extend $50, 1854. 500 of the
1-2 per cent bonds, SO that more than
$50, 600, 900 must be added to the def
cheney, together with 50. 900, 900 repre-
senting the surplus in the treasury at the
end of Cleveland's term, in order to
lative cost of Mr.. Harrison's and Mr..
ClevelaHd's administrations.
In fact. the appropriations for the four
years of Mr.. Harrisons administration
have exceeded those for the four years
VI MI SitN tA-tilt ttl III
Ex-Speaker Reed excuses this profit
gacy by asserting that the Democrats
are as much responsible as the Repub-
licans. Mr.. Savers and Judge Holman
puncture this claim. The apparent ex-
cess of appropriations for the first ses-
sion of the Fifty-second congress over
those of the first session of the Fifty
first is S13. 245, 131, 90 But of the sums
appropriated by this congress there vas
made absolutely necessary by the legis-
lation of the Fifty-first congress the
enormous am punt of $40, 527 500, and of
these sec. 052, S43 may be charged prop
erly to Republican legislation.
Among them are the ocean subsidy
bounty, amounting to 1890, $50; cost of
collecting sugar bounty, $3.50, $50; the
sugar bounty itself, $40 600, 900, and pen
sion increase. $4S, goo, 900.
The Republican party cannot escape
responsibility for either the extrava-
gance of the billion dollar congress, the
extravaganza which it entailed upon
succeeding congresses by its permanent
legislation, or for the deficiency which
it has creatcd.-New York World.