Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1895-07-11
FACTS MISREpRESENTED.
Aboutthe Business Administration
of the Treasury Department.

An Unfair Comparison Made by Hostile
Crities-rigures Accurately Quoted. But
Important Facts Omitted in Making
Drdnctions.
Philadelphia Ledger special.
WAaIINGToS, July Statements
are made from time to time by partisan
newspapers and orators, in discussing
the business administration of'the Treas
ury Department, that are not only un-
fair, but deliberate misrepresentation
OF the facts. The figures arc correctly
quoted in these statements, but certain
important facts are always omitted in
deductions that are made and compari.
sons that are instituted. 10 this extent
such publications are mischieyods, dis
honest and unpatrotic, because they
constitute assaults upon the credit of
the government, and their tendency is
to disturb public confidence and uns0ttle
all the great business interests of the
country. That the acts of the last Con-
gress are largely responsible for the dis.
tress that has prevailed during the past
year in financial and business affairs
cannot be successfully denied, and these
present a legitimate subject for criticism.
But it is unfair to include the business
VI blO AlINGhl1 IL
general criticism, and highly reprehen-
sible to conceal facts and distort figures
merely to emphasize what may be re-
garded as unwise acts by the RESPONSE
BILE legislative authority and to pro-
mote partisan interests. The Treas
ury must be administered according
to law, and it must be administered,
SO far as discretion is lodged with its
custodians, for tue best interests of the
public. The Secretary of the Treasury
and those associated with him in office
may be Democrats or Republicans, but
the Treasury itself embodies the busi-
ness of all the people, and its credit can
not be assailed without working a
public injury.
DIFFICULTIES THAT CONFRONT THE
TREASURY.
AT this time, owing to causes which
need not be considered in this connec-
tion, the revenues Of the government
arc not equal to its current expendi-
lures, and, in consequence, the Secre-
task of administering his department
with impaired revenues SO as to meet
every current obligation and thus main
tain the public credit. The Secretary is
not only confronted with laws that have
proved inadequate 20 furnish sufficient
revenue to meet current obligations, but
is surrounded by acts appropriating an
aggregate sum of money nearly double
the aggregate of his annual resources.
Persons familiar with the proceedings
of Congress know that this situation is
not singular, SO far as prodigality in ap-
preparations is concerned. Appropria.
lions are made by Congress with little
heed to. tho annual resources, and
II is, therefore, the duty, as it
has always been the practice, of
the Treasury Department TO exercise
wise discretion in making its disburse-
ments and in assuming new liabilities.
There are certain obligations that are
imperative, and which cannot be post
poned. Interest on the public debt, the
lighthouse and life-saving services, sala-
ries of all civil officers, pay of the army
and navy, arc among these imperative
and inevitable expenditures. These must
be provided for before the Secretary can
safely consider tine many acts of Con-
gress involving various new enterprises
requiring the disbursement of large sums
of money, and this policy. the correct
ness of which every fair-ninded bust
ness man will admit, has been followed
by every Secretary of the Treasury. In
so far as this policy has been observed
under Secretary Carlisle, there have
been so-called deferred payments"
but there is no substantial foundation
for the allegation that payment has
been deferred of any accrued obligation
taK.f aK,1 na ~ Ia
found with discredited Treasury war
rant in his possession.
HOW THE TREASURY is MIsREPRE-
sENTED.
To sustain the allegation that the
treasury statement for June was manipu.
lated by Withholding accrued obligations
in order to show surplus for that
month, and reduce the deficiency for the
fiscal year, the expenditures for the first
six days of July have been compared
with the last six days of June by par
tisan critics. The deliberate uniairness
OF this comparison is readily established.
Payments on account of interest are
heavier in July and January than other
months, because interest on the bonds
of the Pacific railroads. in addition to
the quarterly interest on $780, 100000 of
4 per cent bonds, are made in those
months. 1t is well known to all persons
who follow treasury business affairs that
payment of interest is made on the first
| days Of the months in which due, and it
is equally well known that the bulk of
| disbursements on account of pensions
are made on the first days of each
month. During the last six days of
mn NJ IF Inf -
and pensions aggregated only $005, ,191,
while during the first six days of this
month payments for interest alone were
$4,S13,000, and for pensions, So ,566 900.
No ono will be bold enough TO charge
that payments for interest and PEN
sions due last month were de-
signcdly withheld, because such obliga-
tions could not be Withheld with
out insuriug a vehement protest from
those to whom interest and pensions
are due. Thus of the $14,67S, 900 dis
bursed during the first six days of July
$l0,379,0 900 was on account of pensions
and interest on the public debt, which
latter sum did not become due until
July ist. 1t is doubtless true that
payments which could with pro-
priety and safety be deferred were
laid over in order to make q better ex-
hibit for the fiscal year ending with
June 30th, but such postponements
haye always been made atthis period of
the year, and men who are in charge
of the business affairs of railroad
and other corporations, banks and other
fiscal institutions required to make an
annual statement showing their condi-
ton, understand the importance, the
necessity and the wisdom of this policy.
There is no difference in business when
done by the government. and business
when done by, the Pennsylvania rail-
road, or any other large and wisely
conducted business concern, and to dc.
liberately misrepresent The financial
arl.,