The herald., 1895-07-24
THAT JULY DEFICIT

Ever since the appearance of the treasury
statement for June the Republican organs
have been doing an endless amount of yelp-
ing about the apparent deficit. That the
month of July always shows dehclt under
any administration they quietly pass over
and devote their entire energy and quill
force to July, 1895. The Chicago Chronicle
takes up the subject and answers as fol-
lows:
The treasury department has felt itself
called upon to take some notice of the
charge of which a partisan press is max
ing so much that the administration put
off payments which should have been
made in June in order to make as good
showing as possible for the fiscal year
ending with that month.
The department officials say plainly
that there is no truth in the charge. But
it was hardly necessary for them to say
so, since every man who is in the posses
sion and enjoyment of average common
sense knows that the administration
could net possibly have any motive 1or
putting off payments from June until
July. 1t could have no motive to make a
little better than strictly correct show
ing for the last year and little worse
than correct showing, as q necessary
consequence, for the new year. Any
such performance would be worse than
puerils. 1t would be very bad politics. If
the administration was going into small
beer politics at all it would seek to make
the best possible showing for this year,
because it Immediately precedes a pres
idential election.
Seeing that partisan press thinks it
cunning to claim that the deficit thus far
in July proves the truth of their stupid
charge that the expenditures for June
were purposely kept down, the treasury
officials have thought it worth while to
20 to their records for proof of the we'll
known fact July is a month in which a
deficit is by no means uncommon, even
in years when there is large surplus
They show tnat in July the excess OF ex-
penditures over receipts in different years
has been as follows:
1887. ...S 4, 800 051 1891. $5, 495, 566
1888. .... 4.S36 $40 1892 .. 2.67S 05O
1889. ...... 10, 112 1893 1898. .... TO 112
1890. .... $40. 742 1894. ...... 1,636, 242
The two first and two last OF the years
named we're years of Democratic admin
istration. The other foui were years of
Republican administration. While there
was deficit in July in every one of these
years, there was a large surplus in all but
the last three, comparing receipts and ex-
penditures for the entire period of twelve
months in eacn case. 1t will be seen that
the July deficit in Harrison's first year
was more than $50 900, 900. while tor the
twelve months lhere was a surplus of
more than 500, 600, 600.
By the way. did Harrison keep down
the expenditures in June, 1889, IN order |
to swell them in July. and make as poor
a showing as possible during his own first |
fiscal year? 1t would be no more absurd to |
say that than it is for Repu bllcan critics |
now to say that tins administration kept |
down expenditures last month in order |
to increase the usual deficit this month |
and make the worst possible showing for |
the fiscal year before a presidential cleo
tlon. This administration is not politi- |
cally idiotic.
The deficit this month to the 18th inst. |
was $13, S2S, GOO But by that date the |
turning point had peen reached and the |
receipts were more than the expenditures.
AS the heavy payments (for pensions
and lnteresD had been made before the
18th. the prospect is that the deficit for
the first seventeen days will be consider
ably reduced before the end of the mouth |
1t may not be more than it was in July,
1889, under Harrison, at a time when
there was an average monthly surplus OF
s., 0C0. 700 or more.