The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-05-19

Tne administration IS getting IN Gesper-
ate straits for money 10 meet the current
expenses OF the government, with the
customs receipts falling millions below
the treasury estimates and the deficit
circumstances some OF the financiers OF
the treasury department have evolved q
brilliant idea, almost as good In its way
as Mr.. Carlisle's pet remedy OF floating
bond issues. This scheme is to recall
from twenty-six states the SIS, 900, coo dis
tributed among them in 1887. when there
happened to be surplus of revenue.
The money distributed was that which
was recalled from the Bank of the United
States at the time when congress re-
fused 10 extend the charter OF that in
stitution. Congress In June, 1886. passed
an act providing for a distribution of all
OF this sum except 100000. among the
various states in proportion 10 popula-
ton. The act OF distribution contained a
provision that the various state treas
uries should issue certificates OF deposit
for the money. which should pledge the
faith OF the state to the safe keeping and
repayment OF the money when the same
might be required.
The states which were the beneficieries
under this act were all which had been
admitted at that time, and included the
thirteen original states and Maine, Yer
mont. Ohio. Indiana. Illinois, Michigan,
Alabama. Louisiana. Mississippi, Ten
nessee. Kentucky. Missouri and Arkansas
The highest amount received by any,
state was si.0I452e. which went to New
York. and the smallest, s2s6. ISL, the
amount apportioned TO each of the states
or Michigan. Delaware and Arkansas.
Notwithstanding that this repayment
was theoretically loan. no demand for
repayment was ever made. although the
government has many times since 1887
been seriously embarrassed for money.
Even during the pressure of war days,
when every available means OF raising
money was resorted TO. no proposition
was ever advanced looking TO the re-
payment OF this loan. 1t will remain for
the Democratic administration, which
finds itself In times OF peace. under
revenue law passed by its party friends.
left without money to meet current ex-
penses. TO endeavor TO recall this dis
bursemsnt made nearly sixty years ago.
While there is something humorous about
the proposition there is really some force
In the claim that the states In question
should be called upon to disgorge II Is
apparent that the intention of congress
was simply 10 make them custodians of
the public funds during a time when
there was a plethora of revenue, with
the direct understanding that the money
was TO be returned II from any cause
there should be a deficit. The fact that
the states have had the use of the money
for sixty years affords no reason why
they should claim ownership in it. Sta
tutes OF Limitation do not ordinarily ever
run in favor of the custodian OF a trust
fund. and never against the national gov
eminent.
The principal trouble will come in the
!. matter OF collecting the fund. No state
treasurer can pay out the money until
authorized by the Legislature OF his state,
and how many state legislatures are
there which will grant the necessary au-
thorizstion? The only resort for the
Federal government viii then be 10 fol-
low the policy OF It's exemplar-the Brit
ish government. and send a feet TO en-
force the collection. For this purpose IN
some OF the states mentioned It will DE
necessary 20 use gunboats OF rather
lighter draft than any now In commits
sion