The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-03-24
NATIONAL FINANCES.
misrepresentation by Democrats of the
True situation.

True situation.
Near the close of its existence the
last congress authorized and directed
the committee on ways and means to
inquire into the condition of the treas
ury The result has lust been pub
lished and consists Of two reports, one
10y the democratic majority. one by
the republican minority. These two
reports agree in this. that neither con-
tains anything in the remotest degree
suggestive of anything dishonest in the
management of the department or rot
ten in its condition. This is the point
of special interest. or rather. would be
if there were any suspicion of crooked
ness. So remote was the thought of
anything of the kind that this negative
tribute to the honesty of the late adj
ministration is not likely to attract
much attention.
The reports are mainly occupied in
guessing what will be the financial
condition of the national government
by the beginning of the fiscal year
1894 This look ahead is based on
treasury estimates, and it IS truly re-
markable how expert clerks of that de-
partment have become in forecasts of
this kind. OF course no member OF the
committee nor the secretary of the
treasury. Mr.. Charles Foster. can lay
claim 20 any personal expertness equal
TO the requirements Of such fOrecasting
of the fiscal future. These two reports
seem, at first blush. to differ widely.
but the real difference is matter of
bookkeeping. According to Mr..
Springer, who wants TO take a
gIaring view of the prospects, there
Is a great big deficit in store for the
government. amounting TO $50. 200, 600
or SO. OOO 600, while the minority re-
port figures ont a surplus. So far as
concerns July 1. 1898. the majority es-
Inmates the available cash balance at
sl7 900. 600. the secretary Of the treas
r. putting the figures at $50. 993, 81
over and above the 800. O00. 600 gold re-
serve. This is not much OF 4 margin OF
differeuce-not enough To make any
appreciate difference either way. As
TO 1894 il i rather early IN the day to
tell what the revenue and the apprO-
priations will be. 1t will be time
enough 10 discuss 1894 when its morn
ing begins 10 redden in the east. It Is
enough for the present to know that
according to the representation of Mr..
Springer and his fellow democrats the
treasury, as left by the republican ad-
ministration. will have at the end Of
the current fiscal year, four months
hence. an available cash balance in ex-
cess of the gold reserve of $1,000, 900,
the secretary of the treasury placing it
about 81. 600. 900 higher.
The republican party has grandly re-
deemed its promise as to the treasury
surplus which was piiing up under
Cleveland. That surplus was mainly
due to the duty on sugar. Free listing
sugar was the great corrective in the
treasury balance, the antidOte for the
cougested condition of the treasury
four years ago. The other changes in
the tariff had reference more specific
ally to the better application of the
principle of protection
1t may be necessary to increase the
revenue of the government. but that
can be done without burdening the
consumer The free listing of sugar
has reduced the cost Of living in this
country at least $50, 900, 900 a year
( That much and more has been saved
annually to the consumers. There IS
some talk of increasing the tax on
whisky II is quite immaterial to the
consumer whether that is done or not
I When it comes TO the price of that per
nicious luxury TO the actual drinker 1t
! is the same now as when the tax was
two dollars per gallon, and remove the
! tax altogether and it would still be the
same. The whisky tax should be reg
ulated. therefore, according to the con-
dition of the treasury.
The subject of issuing bonds is under
continual consideration That is not,
however, question Of the condition of
the treasury. properly speaking, but OF
| the foreign demand. The government
has all the gold our own people re-
quire. but if the foreign demand con-
| tinues and the general stock on hand
gets too low it IS easy enough to re-
plenish by selling government bonds,
using the gold received therefor for
maintaining the general stock on hand
and available for export Chicago
/