The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-12-17

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the Juggling with treasury figures
which began with the creation and groEtn
OF nsoueasly deficits 10 sttE being kept up
by those Democrats who desire 10 make
t4s condition OF our finances appear less
wretchsd than ~ really -. This saeisnt-
of-hand work Was first noticeable Wnen
payments for government contracts began
TO be wssarhel1 IN order that the de-
fiezency Of the month urignt be made ap-
pArentiy insignificant when IN reality it
was very formidable
The reason for sn.s deficiency Of the
past year is that the revenues OF the gov
srnxnsnt have not been equal TO the ex-
pendftares. The Republicans propose 20
make them ample fer al govern
pgegssas neex5s. Knowing this. and assured
thai an Increased tariff viii be the means
selected for dong Il, the low tar6 and
fsss trade men are attempting 20 show
that, after ALL the treasury Is not In need
OF n10rs revenue aud can get along very
web without larger customs receipts.
At the head OF t1ese figure jagglsrs who
are actually disgusting the facts through
a loyalty TO their economic views - Pres
ident Cleveland himself. gh!ie Il is vel
known that the government has been run
ring behind. and taat current expenses
have been paid with money borrowed on
bonds. che president has yne assurance to
cay IN his last message that mo deficit
that has occurred or may occur need ex-
-ssH.
the competency OF man who has money
to burn. ITO meet any such deficit we
have in the treasury. In addition 20 the
gold reserve of 500. coo Geo. a surplus of
more than So. 10000 applicable 10 tia
payment OF the expenses OF the govern
ment, aud which must, unless expended
for that purpose. remain a useless hoard.
or. IL not extrsvagantiy wasted. must In
any event be perverted from the purpose
OF SIS sxaesion from the people"
Congressman MoMllin. Of the ways
aud means committee. followed out the
same miscellaneous line OF reasoning when
al meeting OF the committee last Mon
dag he argued that there was no present
need OF an Increase of tari1 taxes, as the
treasury row held about ti5o, eoo.odo In ad-
,sltion TO the gold reserve. He sad that
even II the present rate OF Deficiencies
continued. u would take more than two
years 20 absorb and force into circulation
this idle money. AL this would lead one
80 believe that tne vaults at Washington
were bursting with unused wealth. and
mat Il would be a hercuiean task 70 get
Il out iuto tae channels Of trade.
The ingenious presentation Of the case
~ the president and other so-eaYed tarsn
reformera Is wholly misleading. There s.
/ 30 surplus suea as former Republican ad-
fntnistraflons have had 70 deal with. The
/ funds now IN tho treasury are largely
What has been left over after the pro-
ceesis from bond sales have been ex-
/ pended For every dollar in the treasury
there Is something outstanding 70 repre-
cent ID in the shape OF "a hofHd or a note.
/ Should this amount IN the hands Of the
I government De utiilzed 10 take care Of
thsse growing monthly deficiencies. ensre
+ wouia be nothing left 90 meet paper obli-
/ cations which may be presented from
Z time to time 1he only reason there is
any money in the treasury IS because
So. 90 90 have eeeh borrowed. and So. ooo.
I eo0 az L have gone 10 meet bills fer which
/ taere was 40 money forthcoming from
I revenues. Had Il not been borrowed the
government would have been pennlseas.
I How Idle 20 talk about a surplus under
+ such a condsshon 81 analrs as this.
! Congressman MeMnl,n may use his
( ssl eoaeoo TO Pay running expenses. bat
when Il L. exhausted thu only recourse
& wea,a bs 80 borrow more. ard the people
are rsfea OF borrowing when the revenue
laws can he 80 changed as 20 make the
receipts equal to tAe expenditures, So
1 long as tAe treasury does uot receive as
snaeh - "a pays out g. cannot be IN a
1ealshy condition and there is bound 60
+ be sroasblo. TAc Hepuhlicans propose 70
ges ia enough revenue 40 meet current
bg.ls Wsehaus any more bond issues, and
/ taey propose % 10 e n a way whlch has
+ been successfully tried hefors-s way
which nos only allows Sufficient sor run
ngag sAs government IN gses shape. hut
/ ssAkes Il pesaibie - essnwuisn a large
] portion e g1e piibifc sest.