Marshall County independent. (Plymouth, Marshall County, Ind.) 1894-1895, 1895-07-05
The Treasury Deficit.

! lhe following is taken from the Inter
Ocean, of July 2 Whether it is in line
with all our readers ideas, matters not.
1t is worthy of reading carefully.
July IS New Years Day in many
highly important respects. Chief of all
it is the beginning of the fiscal year of
the government. In all statistics of
debts, recelps, expenditures, or the like,
OF the United States government given
by years, this midyear point of the gen
eral calender is the beginning of the
year. When, therefore, Congress dis
cussed at its last session. as it did often
and much in detail, the probable sur
plus or deficit Of the treasury, the base
of calculation was July l, 1895. Would
the revenues and Out-gOes of the treas
ury for the twelve months Immediately
preceding that date show an excess or
deficiency?
The exact condition of the treasury.
to the last penny, at the close of Satur-
day night was not known Monday
morning, but near enough for all prac-
tical purposes. The surplus which
Wilson and Carlisle predicted turned
out to be, as everybody expected it
would, deficit. The shortage is Sl3.-
25OC00. This is a pretty large sum.
Forty-three and quarter millions is a
good deal Of money. even for SO big and
rich nation as the United States. 1t
means that the government during the
last fiscal year spent on an average over
100000 a day in excess of its resources.
Last year the deficit was S7O.OOOOOO.
1t is precisely on account of this de
ticit that the government is menaced
with u raid on It's gold reserves. Those
reserves are now over one hundred
millions, and viii be preserved intact,
in all probability, until Oct. 1, the date
at which the Morgan Rothschild syndi-
Gates agreement to protect the treasury
from gold raids VIII cease. Should the
receipts of the government from Gus
toms increase TO an extent TO make our
revenues equal our expenditures the
surplus Will take care Of itself. The
Jimmy with which the spectators hope
to pry open the gold chest of the gov
ernment will then be taken away from
Wall street. Unless thus rescued the
treasury will be after another three
months at the mercy once more of the
raiders. and very likely the syndicate
itself will lead in the raid, or. more like
ly, stand in the background furnishing
the capital and sharing greedily in the
profits.
Whatever may be in store, one thing
is certain: The United States is to-day
presenting spectacle Of dependence
which is positive disgrace and humil-
iation. Although the stress and dis
tress of the war the United states /
maitained its financial independence.
Never once did it cry out to the banks
or any syndicate, Help, Cassius, or !
Sink But in these piping days of
Il
United States presents the sorry spec
tacle of a great nation saved from
by syndicate life-preserver,
thrown to it by j. Pierpont Morgan and
his associates. 1t is enough TO make
the bones of Salmon Il. Chase rattle in
their coffin.
Mr.. Carlisle may well look forward
with some degree of apprehension to
October, but let him be comforted.
December comes pretty close upon the
heels of October, and then a Republican
Congress will meet. That body will be
untrue to the record of the party if it
does not rise to the occasion, no matter
what may happen. The spectators
who are counting on large profits in gold
1T the expense of the government would
10 well to remember that the Republi-