New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-02
WEIR OF DEBT CREATION

For several years the actual expenses OF carry
inc on the Government. exclusive OF Postoihce
reccints have averaged over S31,OOO,OW per
month They should have been little smaller
during the year just ended on some accounts put
q little larger because interest amounting to So
ooOooo yearly was added prior to December. ana
about s. $50 900 yearly after February |. But in
order 10 make Il fictitious showing OF improve
mcnt AT the end OF the fiscal year, the Treasury
has refused TO pay part Of its actual obligations
under appropriation laws enacted. although these
laws were SO far below the real expenses of the
Government that some branches Of the public
service have been seriously crippled. The in
dicnatlon Of United States Judges because they
have been obliged to close their courts and dis
charge witnesses and delay justice on account OF
deficient appropriations will not be forgotten. 1t
IS dlsgraccful that there should be added to I'M
,u,tfabe DELAYS Of this kind other acts Of virtual
r. )udation which have no excuse. because the
money for payment has been lawfully appropri-
ted. and is now lying idle in tho Treasury
Tho available cash balance including the gold
.,sorvc. is officially reported as Sla@S'7o92 on
;qunlay. and the Government would have been
IN no respect worse on II that balance had been
100000 900 lower. while It's creditors would have
\
Il axes the expenditures for tie year 1856, 45o,
a. alnst 1861 525 $50 the year before, and S3St'.-
477957 in the fiscal year 1929 the wrong
heinz that In June the Treasury paid less than
So 900. when It actually ought to have paid
nearly $40 1000 OOO more The fact that one has
20 look back four or five years to find In any
month payments as small as those made in the
month lust closed is sufficient to disclose both the
=.
Some DISAGREEMENT on the part OF officials
whose elaborate calculations are so largely re-
sponsblc for the existing revenue law Is not I'M
natural but II does not afford the falntest cX-
cuse for injustice toward public creditors. II
will he remembered that Secretary Carlisle him.
self called attention 10 the obvious fact that the
Income tax would not become available TO any
great cxcnt until after the fiscal year had ended,
but he estimated in his official report OF last De-
ccmbcr a revenue from customs OF Sl6o,oooo"'
which was nearly SSOO00OO more than the actuii
receipts lie also calculated upon Slto,oH"~
from internal revenue. which was nearly s-''-
900 600 more than the actual receipts. and com
nor,son with his letter to Senator Harris last Au-
gust shows that his official estimates included
practically nothing for the tax on Incomes. Inc
deficiency in internal revenue. AS has recently
been explained Is in large measure due 10 me
net for the enrichment and DEDICATION OF the
Whlskcv Trust. which the Secretary himself Is
understood TO have strongly favored. The GUS
toms receipts fall short OF expectations because,
although imports are large the nd valorcm duties
opcncd the way to heavy evasion by fraudulent
invoices.
Presdcn, Cleveland came into Office in March.
1sa3 with A cash balance In the Treasury OF
Sl24 12s OSS and the interest bearing debt was
$3.50 900 BY borrowing Sill. 100000 by the
two issues Of per cent bonds and So. 100000 on
I per cents the Government has raised Its inter
est bearing debt to about STAT 100000, and by re-
fusng to pay debts overdue has raised It's cash
balance 10 $193,S26,J92. But all these opera
tons do not serve to hide the fact that The change
IN the revenue system. to which the party in
power sacrifices everything else, has left the
Government without revenue enough 10 meet It's
necessary expenses. 1t Is often said that the
Kcpublican Administration left the Government
in difficulty Notwithstanding the actual cash bal
ance on hand as above stated, that 1t may be we'll
10 rccur 10 the fact that the actual revenue fell
only S5,OO0,0O0 below the expenditures for the
eight months Of the fiscal year preceding the
Inauguration Of President Cleveland. Under the
and would have been none had those laws re-
manned in force without the threat Of Il change OF
policy.
GU1STJY INCIDENT ENDED