The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-08

respect, the present law can by no means
fall under just condemnation. During tho
only complete fiscal year OF Its operation
II has yielded nearly SS00o.VoO more rcve-
nuc than was received from ,arin duties IN
the preceding year There was nevertheless
between our receipts and expenditures 1T
Ito more than ss5.0o000o. This, however,
was not unexpected
The situation was such In December last
seven months before the close OF tho fiscal
year. that the secretary vi the treasury
forctold deficiency OF $i7i 900 900. the
great and increasing apprehension and tim
tdity In business circles and the depression
In all activities Intervening since that time
Resulting from causes perfectly well TN
derstood and entirely disconnected with our
tarim law or Its operation, seriously checked
imports. we would have otherwise received
ana readily account for the difference be-
tween this estimate OF the secretary OF the
treasury and tho actual deficiency as well
ms for continued dencit, Indeed. II must
be confessed that We could hardly have had
Ia more uufavorable period than tho last
two years for the collection OF tariff rev.
enuc. We can not reasonably hope that our
|rccupcration from the bpsirsss depression
will be sudden, but II has already SGT in
with a promise Of accalcra,ion and cen
tinuancc. believe our present tariff law.
II allowed fair opportunity. will IN the
near future yield a revenue which, with
reasonably economical expenditures, Will
overcome oil deficiencies, In the mean
timc no deficit that has occurred or may
occur need excite or disturb us. To meet
any such deficit. We have IN the treasury.
IN addition 10 n gold reserve OF 800 nDo. 900.
n surplus OF more than St2S 900 900, aIplic-
| able to tho payment Of the expenses Of the
government, and which must, uncss TX
pended for that purpose. remain useless
hoard, or, II not eStraysgantly wasted. must
| "A mn b.. A 10,
Of lis exaction from our people. The pay
ment. therefore, OF any deficiency In the
revenue from this fund IL nothing more
than Its proper and legitimate nsc. The
government. thus applying a surplus. fer
tnnately. IN Its treasury. to tho payment OF
expenses not met by Its current revenues,
In not at all to be lkcncd to u man livinl,
beyond his Income and thus 'ncurri NJ debts
or decreasing his principal II Ia not one
OF the foundations OF our government TO ac-
c,imu'ate and make .Iiilions TO fund no,
needed for immediate expeniituro. With
| Individuals, II is tho chief object OF sh ug-
gle and cfforts. Tho application of nm nc
cumulatcd fund by the government to the
payment VI i,a running Expenses. ls duty,
| An individual living beyond hlR income and
embarrassing himself with debt cr drawing
on his accumulated f,ind OF principal Is
either unfortunate or impruylhcnt Tho dis
| tinction is between n government charged
| with the duty Of CNpondiuE Tor The heuott
| of tho people aud for proper aurposcs all
| the money II receives from any source rnd
the individual who Ia expected to mauiiost
| n natural desire to avoid debt or to accu~
iuulnte as much as possible md to live
within tho inccmc derived from trch Gccu-
mutations to the end that thcN may hn IN
creased or NJ least romHiu uuinipoircd for
the future use and enjoyment of himself or
| tho objects of his love aud affection who
may survive him II is imincnenYably bet