The Indianapolis journal., 1896-12-22
PUBLIC REVENUES.
Receipts and Expenditures-An ArEu-
ment for Retrenchment.

Recc1pts anu ENpenuftures-An ArSu
ment for Retrenchment.
| In the course of his report on the pub
| lie expenditures and revenue. the secretary
| says:
AT the close of the fiscal year 1895 the
available cash balance in the treasury. aft
| er deducting all current liabilities, but in
/ cluding the gold reserve OF SlOO.OOlOoe. was
l902i0. l53. and at the close or the Ilscal
! year 1895 the available cash balance ex-
| Guiding the current liabilities. but including
the gold reserve of slOo.0oO,0OO was 500. .iS2. :
| 096. an increase of s12.19l 942 The excess of
| expenditures over receipts during the year
was SIS 2O3, ,2i5, while the deficiency during
the fiscal years 1894 and 1895 was $os. sos. 26D
| total excess of expenditures over receipts
| from the ordinary sources of revenue dur
| ing the three years S139s .729. The ordi-
| nary expenditures of the government. in
| Guiding pensions and interest on the pub
lie debt. were sSl 2ss ooS less & during ing the ms,
| closed on the SOth day o. June lsS3 Sl5.-
345. .S33 less than i'm 1894: and si.0l5.S92 less
| than during the year 1885.
The total receipts from the ordinary
sources of revenue, including the postal
service, for the ,,scal year 1925; We're IRE s,,.e ST.
| year 1886 they were s19. .102 205 greater than
| in 1885. making an aggregate increase OF
s36,6129l3 i'm 1896 over the year 1894 The in
crease in the receipts from customs during
| the year 1896 was S2S. .2U3. 221 over the re-
ceipts from the same source in 1884. and
seipss for nss5 bat during the first
| five months of the current fiscal year the
| receipts from all sources have been s9.s2s.-
| 62S less than during the corresponding five
months of last year. while the expenditures
for the same time have increased $H, i4S.S .S9l.
resulting in a deficiency of $Ss. s.946.Si5 on the
first day of December. The decrease in the
receipts from customs during the hve
months was s129S0.2H, while the receipts
from internal taxes were about the same
as during the corresponding period last
year
| Dec. ], 1896. the total value of our importa-
tons. dutiable and free. was sl16, 100000 less
| than during the corresponding eleven
months in the calendar year of 1893, the
decrease in free goods being So, 100000. and
| in dutiable goods s51, 600. More than four
| fiths of these large decreases occurred in
the first five months of the present fiscal
| year. the falling off during that period be-
ing $50. 900 in free goods. and s44.6i9OO0 in
dutiable goods.
ton of the existing situation and con-
servative reliance on improved business
conditions in the future fully justify the
conclusion that the estimated deficiencies
for the current year and for the year 1898
will not be realized unless our public ex-
penditIres shall be very ma materially era it in,
proper economy i'm administration and such
reductions in appropriations as might
be made without detriment TO the public
service the receipts will be equal to the
disbursements i'm 1898. But. however this
| may be. the condition of the treasury is
such that no revenue legislation is imme-
diately necessary or can become necessary
for a considerable time in order to enable
the. government promptly to meet all ITS
during , the last three fiscal years
nsnd,,,res naUs pee' there have .een st all times
sufficient available funds in the treasury to
maintain an efficient public service and dis
ernment. and no public creditor has been
delayed in the collection or his claim, nor
has the business of the country ever oeen
.l;et,,r bod hxr.a dn,rh
of the government to defray its ordinary
expenses. 49,. ..o 90 -. os,,r.ted
deficiency for the current fiscal year has
already been incurred. and has been paid,
leaving still I'm the treasury, on the first
day of December, balance of $22., %, ,90S
which. after deducting the gold reserve. is
about 800 900 900 more than is necessary as
a permanent fund to insure the regular
of the government The fact that this
money was not collected by taxation. but
was procured by the issue of bonds, for a
purpose other than the payment of or
binary expenses, does not affect the situa-
tion in the least. When the gold secured
by the Issue of bonds to replenish the re-
serve has been used for the redemption of
notes. the notes redeemed are received and
held as part of IN general fund. and must
thew ne Wses can % be legally all applied The money be-
ing actually in the treasury. the sole ques-
tion is. whether it shall be Used, when
necessary. to defray the expenses of the
government or be held as an idle and use
less fund In order to afford an apparent
reason for the impositI9n; ;s OF additiqnal b h
ance is represented by outstanding bonds
bearing interest. and, as its permanent re-
tention in the treasury can be of no ad-
vantage to the government or its citizens.
no substantial reason exists why 1t should
not be expended. If required. before our
trade and industries are subjected 10 new
or increased burdens.
What is most needed at present is not
more taxes. but more economy In appro-
he i'm
crease in the ordinary expenditures of the
government during the last seven years
has been without precedent n, In our history, history
which imperatively demands the most seri-
Gus considerations Of Congress. An ex-
animation of the expenditures and objects
>or which they were made shows that dur
ing the first period OF four years-lSS6. 1887.
1883 and 1SS9-the average annual payments
on account Of civil and miscellaneous items
were SIS. .262. .020: on account of the War De-
partment, $3S, 800. 721; on account of the
Nay s on on of
SIG. 5S6 S13. and on account of interest on the
public debt. SAG, 553. while the average
amount Of expenditures for the same OBJ
iects during the succeeding periods of
seven years was. for civil and miscellane-
GUS items. sss. $50. $685. for the War Depart
s27 s6S 164: for Indians, $40 .3l4: for pen
sons. Sl35. .32S. .65l and for interest on the
public debt, s3i2isSii The y average % annual ,uai
period over the expenditures for the same
purposes during the first period was. for
civil and miscellaneous items. $lS.51S. Si5; for
the War Department. slO6l6,956; for the
Navy Department, S1l. .029. .f9S: for Indians
So as 5l5 and for pensions $5S AL. .74S, the
| only decrease being in the amount paid
| for interest on the public debt. which was
| s14. 1921 less per annum than during the
first period.
1T does not appear that there has been
any such necessary extension or sub
stantial Improvement of our public service
as TO Justify these enormous increases in
expenditures. and, in my opinion. we have
reached a situation which not only forbids
| the favorable consideration of measures
| calculated to augment our annual outlay.
but which obviously demands thorough
| revision of our permanent appropriation
| laws and the enfor cement of strict economy
| i'm future annual legislation upon this sub
| iect. But. unless our annual receipts are
increased by improved business conditions.
or our annual expenditures are reduced. n
| time will arrive when provision must be
| made for additional revenue: and. IL the
| expenditures of the government shall be in
creased by acts OF Congress. the necessity
for such a measure will arise earlier than
| the present situation seems TO indicate"
AGAINST PROTECTION.