Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1893-03-03
The Reduced Surplus.
A Plain Statement of Facts about the
Government Finances,

From the New York Tribune
With this week will close the Republican
administration, under which the country
has attained the greatest prosperity it has
ever known. Yet it pleases opponents of
the Republican policy to assert that the
treasury is bankrupt, that President Cleve-
land turned over a surplus of S200,000,0O0,
and that President Harrison has spent it.
A few words on this matter will not be un-
welcome to those who wish to know the
truth or care for justice.
The gold balance in the treasury, ex-
elusive of certificates outstanding, was
S196,0OO,000 March 1, 1889, and mas been
reduced to about $1O4, 100000 March 1,
1893. But the new navy of which all
Americans are proud, and which none pre-
tend has been wastefully constructed, has
made the expenditures in that department
about S107 100000 during the past four
years, against S67, 100000 during the pre-
vious administration of Mr.. Cleveland.
The aggregate of pensions paid during the
past four years has been about $516,000,-
600, whereas the aggregate of such pay
ments during the previous four years under
Mr.. Cleveland was about $500, 900, 900, a
difference of $210,0O0,OO0 These two
differences amount to $250,0OO 900, much
more than double the decrease in the
amount of gold on hand. 1t may be added
that the present administration has re-
duced the interest bearing debt from S944,-
10000, to $685., 100000, a reduction of
S259, 100000 and nevertheless under its
advice a Republican Congress has reduced
taxation very largely.
In the fiscal year 1891 the decrease in
customs duties from the amount paid in
1890 was but $1O,OOO,OOO. But in 1892
the decrease was over S52,000,0 600, and
while the custom receipts during the past
eight months have been sweled by npre ce-
dented imports, they are nevertheless at a
rate far below that maintained during Mr..
| Cleveland's administration, when the Gus
toms revenue averaged $213, 900 year
! ly. The removal of duties on sugar alone
has been a direct benefit to the people of
more than S50,0O0,O00 every year.
1t is not intended to affirm that there
have been no wasteful appropriations made
by this Congress or the last. The present
Democratic house has voted away more
money than any other of either party
ever appropriated, but meanwhile the truth
is that the proportion of money wa stefully
voted by either party has been relatively
small. The great increase has been in the
building of a navy, and in more liberal
care for those who risked their lives to
save the nation from disruption. When
the people see the facts just as they are,
they will decide whether expenditures for
these purposes shall be stopped.
The administration has honorably and
faithfully expended the sums which Con-
gress has appropriated, and if there be
fault to find with the appropriations, it
rests with the representatives of the people.
Under President Harrison the revenues
have been collected with great fidelity and
economy, and there has not been the slight
est suspicion, even in the minds of parti-
sans, of any misconduct or abuse either in
the collection or in the disbursement of
the public funds. The people held four
years ago that it was foolish and wasteful
to keep so large surplus as $196, 100000
idle in the treasury. Their representatives
voted to use part of it. That is the truth
about the treasury surplus.