The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-11-28
The Condition Of the Country Wher
the Democrats Take Charge
March 4.
A Possibility That a Loan Of 6
Hundred Millions Must Be
Floated.
This Is Bciieved to be tho Best Way oi
Meeting tho Obligations of the
Government.

WASHINGTON, Nov. 29.--The condition of
the treasury is the question that oonfronts
every democratic statesman at present.
The treasury officials are not ready TO ad-
NIT it publicly. openly and above board, but
it is we'll known to everybody hero that at
the end of the present fiscal year there will
be a deficit of between 500, ooo. 900 and $780,
100000 in tho treasury. The secretary of
treasury will not yet admit that deficit
really exists, but the bureau chiefs of the
treasury department. whose business it is
to know the details of the treasury busi-
ness have no doubt whatever on the sub
iect and do not hesitate to say so. Every
democrat OF standing who has paid any at
tention to the finances of the government
the appropriations and the revenues, has
no doubt that deficit is inevitable, just az
certain as the end of the fiscal year. Per-
haps majority of democrats prefer an in
come tax. The eastern democrats, howev-
er, as a general rule, are opposed to this
method of raising revenue and insist that
the best way is to be entirely confidential
with the people, to recognize the existing
conditions of the treasury with q plain
statement to the people, with a recommen-
dation of new government loan of $780,
100000, to be floated at three per cent at
the most and perhaps at 21a per cent. The
| floating of new issue of bonds would un-
doubtedly be the most popular with the
moneyed interest, especially with the bank
ers. 1t would help the national banks to
continue in business for many years more,
but the western and southern democrats
prefer to provide for the emergency of the
treasury at the moment These are out
spolen advocates, as a general rule. of an
iT 'oins TAX. Everybody admits that the
expenses of the government must be pro-
vided for. 1t is not the fault of the demo-
Gratis that republican administration has
committed harakiri with the finances and
changed a condition of 500, 900. 600 to the
credit of the people in 1889 into 500, 900, 600
of indebtedness in 1898.
Officials of the treasury department are
discussing the democratic embarrassment
with immense delight. but it is the belief
of the moro responsible men in the treas
ury department. that the issuance OF $780,
O00,000 in bonds would be the popular
method of crossing the ugly bridge that
will confront the democrats when they
come into power. 1t is assumed that a loan
would not be porular with the masses of
the people, but the democrats are not re-
sponsible for the loan and as many an
his house to make ends meet to the demo
cratic party, who are to assume the respon-
sibilities of the government on March 4,
will nave to struggle to make ends meet
and to find out the best methods of en-
countering the emergency.
Ihe most general popular idea among
democrats, If the exigencies of the treasury
can be bridged over. is the appointment of
a caucus committee embracing members of
both houses to sit during the summer and
| draft tariff bill; that congress- should be
called in extra session in October. the presi-
dent should send his message recommend
ing the general features of the taliff bill to
| be agreed upon in the meantime and that
it should be rushed through both houses as
q strictly democratic measure. The caucus
committee already suggested is Carlisle.
Vest. Mills and German for the senate;
Bynum. of Indiana, Breckinridgeo. Arkan-
sas, Mcmillan of Tennessee. Turner of
Georgia. Wilson of West Virginia, Warner
of New York, stevens of Massachusetts and
Outhwaite of Ohio, ON the part of the
house. The theory is that this committee
! should confer with the president and mem
| bers of his cabinet.
There is no longer a doubt that the dem
ocrats will be ablo to control both houses.
| Montana will send democratic senator in
the place of Sanders. and according to the
latest accounts Wyoming will also send a
democrat in Warren's place. There is no
doubt concerning California. Wisconsin
and New York. This will give the demo-
Gratis cont oil of the senate. exclusive of the
| third party men, and it is no secret now to
say that Kyle, PETER and Stewart, of Ne
vada. have already sienitied their intention
of joining with the democrats in the Or
ganlzation of the senaue and voting with
the democrats on all tariff questions.