Birmingham age-herald., 1895-04-06
FAIR AND UNFAIR.

from 1t as will be difficult to estimate.
 FAIR AND UNFAIR.
 The difference between partisan Repub- lican paper and liberal paper of the same political faith is shown in the way in which the New York Tribune and the St. Louis Globe Democrat treat the treasury statement. The Tribune heads it's article ''A Tariff for Deficit Only," while the Globe Democrat's heading is ''The Vanish ing Defcits.'' The first predicts further deficits, while the latter declares that there will be no further deficits. The Tribune is so determined to make out case against the Democratic administration that it says the shortage for March is $346 1882, instead ola little over S246, GOO. But S100,0 more or less is small matter when the Tribune wants to bring the Democratic administra- tion into disrepute.
 The Globe Democrat statement is so clear and impartial that we give it in full:
 Iii clear now that the days of the treasury deficits are numbered. From July l, 1894, when the present fiscal year began, on ward to the end Of January, 1855, expenditures exceeded receipts to the extent of nearly $5, ,o0o ,0o0 a month on average. In February the shortage dropped to $2 sos, ,oD0, and in March, according to the figures just given to the public it is down to a little oyer $246, 1000. The receipts from all sources in March were about $25, ,471 1000 and the ex- penditures $z6 TIT .00o, while the deficit for the n.ne months ended with March of the fiscal year was $36, 542 ,0o0. .,
 This last total has undoubtedly reached it's limit. There will be no deficit in April. From this time onward, it is safe to say, the govern ments income will at least meet it's outgo, and month or two hence will exceed it. The sugar duties and the increased whisky taxes last making themselves felt, and they \ oe important items their side of the |. .-.nce sheet hereafter. The improvement in business, which is under way and which is in- creasing the purchasing ability of the people, will add largely to the general receipts of the government, both at the custom houses, and at the internal revenue collectors offices. The fair working balance which the treasury has on hand will be maintained, and q few weeks hence il will doubtless begin gradually to in crease The government has made It's last bond sale for this year. Probably anothcr will not be necessary in many years.
 The dread that an extra session of Congress will have to be called If the Supreme Court de- clares the income tax unconstitutional now vanishes. There is no real reason, of course, to suppose that the court will do this, but if it should Congress would not have to be sum- moned. Before the receipts from the tax be- Biu tO COluo III luo government VIII DO III position to do without them. The tax is ex- pected to yield between $3O, ,U00, ,0Oo and $40 1000 1000 year, but the government is no longer seriously concerned about this impost. Whatever the tax yields will be so much sur plus. The trifling shortage in March, and the assurance which it conveys that there will be no shortage at all in April, constitutes the treasury's declaration of independence on the income tax question. No more gold or cur DnsSihla- The d n th financial sky has been dispersed. Hence forth the panic of 1893 and the business dis aster which it projected into the two succeed ing years can be spoken of in the past tense.
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 FIX GOVERNOR HoGe of Texas is in New York, and has been called upon by bank CTS and brokers for further explanation of 8 law passed during his administration know as the "bond and investment' law. This law is 80 unique that it gained for Governor Hogg the title of the Anarchist Governor. The law provides that the railroads shall not issue bonds above the value of the road. In case of an emergency, however, railroad can issue bonds not more than 50 per cent over it's value, provided the Railroad Commission will give it's consent. The Railroad Com mission must keep on file the true value of every railroad in the State. All bonds is- sued by railroads must be numbered and registered.
 
 FOR the last three-quarters of century it has been the policy of. the Democratic party to coin silver, says free silver ex- change. It is well that our contemporary did not go back beyond that period. The Democratic forefathers of the first quarter of the century stopped the coinage Of silver dollars. The free silverites must give up the founders Of the Democratic party and swear by so-called Democratic statesmen of later date..
 A 16 TO 1 contemporary says that the gold certlficatas are the only forms of cur rency required to be redeemed in gold. This statement is misleading. The Demo. cratic party proposes to keep both gold and silver on parity, and when gold is de- manded in preference to silver it must be paid.
 POSrOFFICE CHANGES. WASHINGTON, April 5.-[Special. 1.-The following postoffices ia Alabama, hereto- fore authorized to transact only domestic money order business, wiil become inter- national money order offises on April 8, 1895: Perote, Bullock county; Joppal, Luliinan county; Parrish, Walker county. "There's no place like home" when the food is prepared with Dr. Price's Baking Powder.
 CLOSED BANK.
 WASHINGTON, April 5.-CompirolIer Eckels today closed up the City National tAF- m