Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-09-08
The Looted Treasury.

There is printed in the Ledger anoth
er Washington letter on the condition
of the National Treasury from Major
Carson, who is fully informed on the
subject. and who never permits party
interests to suppress or color the truth.
This statement presents most appalling
facts to the country, and let us soberly
look them in the face. They are as
follows:
1. The surplus in the Treasury June
80, 1890, the close of the last fiscal
year of the Cleveland administration,
was $50, 409,74S.
2. Since then Congress made fore
ed loan of s54, 2O7,975 by covering into
the Treasury the special trust fund for
the redemption of national bank notes.
3. Since then the fractional silver
coin has been Jumped into the assets of
the Treasury, although it was omitted
from assets before because not availa-
BILE.
4. For the first time since the war,
the payment to the sinking fund has
been suspended, under the present ad-
ministration.
5. For the first time during the last
score of years, d small loan that ma
tured in September, 1891, had to be
extended because of the inability OF the
government to pay it.
6. With all these additions to the as
sets of the Treasury the cash balance
in the Treasury on the 30th of last
June, the close of the fiscal year, was
1927, $50, $50. or only $12, S97,2 ex-
elusive of fractional silver that cannot
be drawn upon to pay government bebts.
6. The appropriations by Congress
for the present fiscal year aggregate
S5OS, 900, 900. OF these expenditures,
fully $40. 900. 900 were absolute obliga-
tions created by the previous Congress
in pensions, bounties, etc.
s. The revenues as estimated by the
Treasury department for the present
year will be Si55, $50, $50.
9. The excess of expenditures over
receipts this yeaD will be 500, 100000,
with only S12,50O,000 of available
Treasury surplus, even after a forced
loan of over S54, 100000, the suspen-
sion of the sinking fund payments and
the extension of bonds overdue.
10. The deficit for the present year,
even after taking the last dollar of
available money from the Treasury,
mnst be fully 100000.
IL. The steady increase of pensions
authorized by the Billion Congress. will
add not less than 100000 more to
pensions next year, with many more
millions demanded for growing boun-
ties and the almost countless public
buildings already under contract.
Such are the sober facts as to our
looted Treasury. The surplus of over
$50, 900, 900 left by Cleveland is gone;
the forced loan of the bank note REDEEM
ton fund, amounting to over S54, OO0,-
900, is gone; the payments to the sink
ing fund are suspended; the bonds OF
the nation due are unpaid for want OF
money; exclusive of fractional silver
that is not available, the surplus at the
close of the fiscal year was only S12,-
100000; the appropriations made for
the present year are $53, 100000 i'll
excess of the estimated receipts, and of
these appropriations S70,000,O00 were
to meet obligations created by the
previous Congress.
Taking the appropriations. and the
estimated revenues for the present year
and adding the available surplus to the
revenues, the present fiscal year will
leave the Treasury bankrupt not less
than $40, 100000, with growing PEN
sions, bounties, ETC., to swell the deficit
for some years to come. The Treasury
is looted and bankrupted, and the peo-
pie must choose between increased tax
es or honest economical government.
Which shall it be Philadelphia Times.