New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-27
THE CONDITION or THE TREASURY.

Mr.. Springer, who went out hunting for in
formation about the condition of the Treasury
NAV perhaps have obtained more than he wished
from the report made by Secretary Foster on
Wednesday. This report, being based upon
later returns of the revenue and the cNpcndi
tune than the annual report submitted to Con-
gross in December embraced il entitled 10 take
precedence where the two differ. Ii shows that
i'm the first half OF the current fiscal year the
receintS from all sources were S23@ ,fl?.2Io'
and the expenditures S23O5i1 ,OOb, 80 mat
the excess of revenues over ordinary eNpcnd-
lures was S3,s4s.209. II is estimated that
for the entire fiscal year the revenue VIII be
Si66.G713JO, and the expenditures Si6i-
611.35O. leaving a surplus of revenue over
expcnditurcs amounting to 5000, 900.
The panic -mongcrs, and the people who have
been engaged in proving the Treasury bank
rupt will not find anything comforting in this
statement. 1t faStens upon them the reSpon-
,ibity for untruths which were particularly
offensive, because they were calculated and
were apparently intended to destroy the credit
of the United states in other countries rs well
a. at home. II any Democratic politician hoped
TO get AT figures supporting claim that the
Republican party, after many years OF power,
had unwisely reduced the revenue SO far and
so increased expenditures aS TO leave the Gov
eminent without means 10 meet lis Obligations,
the official report marks him according to his
merits Dispatches 10 some Democratic papers
raise the question whether contract liabilities,
10 the amount Of 25,259, 35S. which it is esti
mated will be paid during the current fiscal
L,, ;ncludad in ho a~timafpI a.
penditures There seems to be no good reason
for questioning the accuracy or truthiulness
of this statement, which purports to give offi-
cially the total estimated expenditures for tho
year. Presumably each department has taken
into account, as far as it can, what will prob
ably have to be paid upon contracts Is well as
other expenditures liable to occur under exist
ing laws. Not only are the revenues for the
year deemed certain TO exceed the expenditures
for the year, but the available cash surplus
expected to remain at the end of the fiscal
year is S2O,992,377, besides the so-called
bullion fund Of 500, 100000. The next Adj
ministration will therefore start with an avail
able surplus large enough for all necessities,
and the report goes on to show that the prob
able receipts under existing laws, supposing
them to remain unchanged through the next
fiscal year will be S49O121, 1865, and the prob
able expenditures S457,261, 335, but to the
latter sum must be added about 81, 900 900
for redemption of past due bonds fractional
currency and bank notes, and 81 100000 for
probable payments on mail subsidies. Thus
the excess of receipts over expenditures for the
next year would be about S26,S60, 030. To
this may be added the SO, 992, 317 cash bal
ance available next July, making 81, 1885,, 407
excess over the anticipated regular eXpendi-
lures. But it is stated that the contract obi
cations existing December 81 1892, not in
Guiding the portion payable within the current
year above stated, amount to S40,27S, OBS.
If the whole of these obligations should be
met, the cash balance, in excess of the bullion
fund, would be only S7,S52,407 at the end
of the next fiscal year
From this statement it appears that there is
no excuse whatever for imposing new taxes,
really in aid Of the Whiskcy Trust or any other
combination, under the pretencc that the Re-
publicans have left the Government without
adequate revenue. But it also appears, and
with equal clealncss, that the Treasury cannot
stand any such wholesale abolition of duties
as the Free Traders demand. Even Mr..
Sprnger's few hole punching bills, putting wool
and tinplates, binding Irvine and cotton ties
on the free list, would cut off a revenue several
times as large as the expected surplus at the
end of the next fiscal year. If the Democrats
propose to cut off duties, they must provide
additional revenue from other sources. If they
attempt to do this by lowering the duties on
manufactured products. they deliberately in
vite and rely upon such vast increase OF i'm.
portatons as must PROSTATE many home in
dustries.
The appearance OF two Democratic Judges Of