The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1894-02-10
THE KIMBALL.GRAPHIC
CLATE R. TINAN.
The Official Paper Of BruIe County.

CLATE r. TINAN.
The Official Paper Of BluIe County.
The Conslltfon of Things.
It is we'll to give brief recital of the
stages by which the federal treasury has
been brought to its present straits and
to put the responsibility where it justly
and historically belongs. The surplus
revenue for the year 1889 was estimated
by Secretary Fairchild in his last report
at $104.0O0,0OO. It proved according to
the first report OF his successor, Mr.. Win
dom, something over s105, 100000. When
the Cleveland administration went out
Of Office on the Ash of March, 1889, it
turned over an available cash balance
which, If stated in the form of treasury
statement used for this past two years,
amounted to $1S4,s29,1 1929. This in
cluded, of course. the gold reserve. Dur
ing the four years of the Harrison
administration the form of the public
debt statement was twice changed, first
by Mr.. Window to conceal the fatness.
and later by Mr.. Foster to conceal the
leanness, of the treasury. Let us exam
ine, now, how this splendid surplus with
which it began housekeeping was scat
tered, and new methods of bookkeeping
became necessary to force any balance
in its accounts.
The Democratic party had made an
honest but unsuccessful attempt to re-
lieye the treasury Of surplus revenue by
freeing the people of unneeded taxes
The full control Of the government secur-
ed bY the Republican party in the
election Of 1888 gave it an opportunity to
deal with treasury surplus according
to genuine protectionist methods and
ideas. The protectionist lawmaker is
ever seeking some device by which lie
can tap its current, and the more of ii
the better, into some private reservoir
Failing in this he will generally abolish
1t altogether. Such was the manner in
which the Mckinley bill dealt with the
surplus revenue. It discovered that
tobacco had "come to be regarded as a
necessity by the poor as we'll as the rich,' y
and it proceeded to reduce internal rev.
enue taxes on that prime and indispen-
sable necessary of life, and to abolish
the special taxes on dealers and manu-
facturers. Raw sugars were our chief
revenue-producing article on the custom
list, and so it wiped out the duties upon
them, with the virtuous cry of "a free
Dreakfast-table for the workingman."
Both these taxes were in a just and
proper sense revenue taxes. The tobacco
tax should not have been touched, be-
cause it went directly into the treasury
from the pocket Of the taxpayer, and was
burdensome upon no one. The sugar tax
might very properly have been reduced,
but should not have been entirely abol-
ished, because OF all the items in the tar
if it carried the larges. proportionate
amount of what the people paid into the
treasury, aud the least preportionate
amount as incidental protection to the
home producer; and the direct bounty
with which the Mckinley bill replaced
the incidental protection has been far
more burdensome to the taxpayer. But
while taxes on tobacco were remitted be-
cause it had become a necessity to the
poor man, new aud heavier taxes were
laid on the wollen clothing indispensable
to his health and his productive energy
and to the health and comfort OF his fam.
lily, taxes SO merciless that I venture to
say they have no parallel in the world
to-day. While sugar was untaxed to
give the AmericaR workman free break.
fast-table, new taxes were placed on his
cups and saucers, his plates and dishes
his coffee-pot. his knives and forks, lis
canned food, his olnelet, and his table
cloth. In word he was relieved of par
of the taxes he paid to his government
in order that he might be made to pa,
much greater and more oppressive take.
to the gentlemen who were graciouslY
permitted to frame the Mckinley bill.
| Except for the release of these reven
ues, which in the interval since their re
lease would have given US over $4,000,
900, we should not be confronted with
deficit to-day. The demands for the sink
ing fund for the past ten years coul,
have been met, and there would yet b
ia the treasury large balance, instea
Of less available cash of all kinds thai
the amount heretofore set apart as.
special gold reserve to maintain the in
tegrity Of our paper money. But thi
does not tell the whole story. There wa
still the splendid surplus handed over b
the previous administration, and accru
ling under the laws in force up to tn
passage Of the Mckinley bill. How wa
that to be gotten out OF the wayY
large part OF it was used to redeem, at
premium, bonds which had not yet fallel
due. The purchase OF such bonds, Will
effecting some saving to The governmen
In future interest payments, deplete
4 the treasury, SO that it could not pa
bonds Which fell due a little later, un
on which no premium could be demand
ed. Between the 4th of March and til
1st Of October. 1889, Secretary Windo1
purchased s66, 1864, SOL, paying for 411a pc
cent. bonds Of 1891 premiums rangin
from to 8 per cent, and for per cent
due 1907 premiums ranging from 27
90 per cent. His report made Decembe
1, 1890 showed that since June 80 OF tha
year ne had disbursed sos, ,276, ,682.1o, an
had redeemed $75, 1926, 200 Of bonds. Til
difference between these two sums wa