The Coconino weekly sun., 1895-04-18
Y, 4 FLAT FAILURE.
The Disgracaful Financial Record of thS
 Cleveland Administration,

Cleveland Administration.
 The Congressional Record of the Ftfty-third congress contains on the first page Congressmau Dockery's re- markable statement, in which he eu- logizes President CleveIand's payment of the public debt under the revenue received from the republican tariff, but omits to make any reference to his increase of the public debt by a demo- cratic tariff. He states that the bonds purchased during President Clcveland's first term amounted to $3sS, ,074. $50, while those purchased under President Harrison amounted to s250, ,o9S, $50 And there he stops He does not make any reference to what President Cleveland has done since a democratic tariff was in force, either actual or prospective, for 1t is a conceded fact that a prospect of a democratic tariff began to make it's effect apparent upon the receipts of the treasury within very short time after the election of 1892.
 The election of democratic con- gross and president in November, 1892, was followed by rapid reduction in the receipts os the treasury the re- ceipts of the year following falling O,OO0, 900 below those of the year just preceding that election, while those of the year in which the tariff law was actually enacted fell sG5 10000 below those of the year prior to the election of democratiecongress and president If Mr. Dockery had made his statement absolutely fair and accurate it would have stood about as follows:
 Cleveland's reduction of public debt under republican tariff, S33s,o42, $50.
 Cleveland's increase of public debt under democratic tariff, S164, ,247, ,s5l.
 If he had carried out the statement further he would have shown that Mir. Cleveland's present term had been a constant violation of an apparently mandatory law with reference to the sinking fund.
 The act of February 25, 1862, estab- fishing the sinking fund, and which stands without modification upon the statute books, says:
 That all duties on imported goods shall oe paid In coin or in notes payable on demand
 
 receivable in payment of the public duties, and the coin so paid shall be set apart as . special fund, and shall be applied as follows: CD To the payment in coin of the interest on the bonds and notes of the United States @ To the purchase or payment of one per cent. of the entire debt of the United States | to be made within each fiscal year after July, 1862. which is to be set apart as sinking fund, and the interest of which shall In nkc manner | Il,o iaA tha chaS ont of public debt, as tho secretary of the treasury shall from time to time direct.
 (9 The residue thereof shall be paid in the treasury of the United States
 So it appears from the reading of this law that duty of the secretary of the treasury is to first deduct from the customs receipts enough money to pay interest on the outstanding debt, and then to take from that fund enough to pay into the sinking fund l per cent. of the outstanding debt and the full rate of interest upon the bonds pur- chased fer sinking fund, thus paying to itself interest upon the bonds which have been from year to year purchased for sinking fund. Under this law, the government has to set apart about S47, ,0O0 GOO each year for this purpose. | During President Harrison's term there was set aside much more than an average of S47, ,000, ,000 a year. Under President Cleveland's present term, however. the amount of bonds pur' chased for the sinking fund do not amount to single million of dollars while, on the other hand, he has added Slo4, ,OO0 GOO to the pubic debt. The statement of the secretary of the treas ury showing the purchase and redemp tion of bonds on account of sinking fund gives the amount, for the tiscaI year ending June 20, 1894, at less thar S25O, 900 and for the preceding year little more than S5OO,000.
 On these subjects MT. Cookery is si lent. He shows that MT. Cleveland: additions to the sinking fund, through the receipts coming from the repub lican tariff, were extremely large; that the, addition to the sinking fund dur ing President Harrison's term was fal more than the law would have re quired during the four years; but ht does not state the additional fact that President Cleveland has deliberately ignored the law which makes it hi first duty after paying the interest O the public debt, to set aside S47, 900, ,0OO, per annum, for the sink ing fund, or that in addition tt thus ignoring the law he has added Sl63, ,O00, GOO to the interest-bearinl debt, while the new democratic tarif law, in its first six months, fell nearl. $50, ,OOo,O 900 short of producing sufficien receipts to meet the current expenses aside from its failure to add anything to the sinking fund. That is the meas ure of democratic incompetence to han dle the national finances properly Toledo Blade.
 What Republicans VIII Do.