The Dalles times-mountaineer. [volume] (The Dalles, Or.) 1882-1904, 1897-11-13
1T WAS THE PENSIOl

Two years ago when Presiden
Cleveland was issuing bonds, the re-
republican press throughout the
country, including the Oregoniap.
was laying the deficiency in the rev.
enues to the inadequacy of the Wilson
law and the agitation of the silver
question. 1t was asserted that more
revenues must be created by increased
taxation and that the run on the
treasury could only be stopped by the
enactment of a new tariff law and the
hushing upEi, vno silver agitation.
Little was said of the increased ex-
peEditures, nor was there plan sug-
gested for cutting of expenditures as
relief to the treasury. But now the
Oregonian has discovered the cause OF
the depleted treasury, that called for
bond issues was not the lack of revenue
at ali or the harangues OF the "silver
looms" According to it the real cause
for bond issues, was the pension pay
ments. 1t says:
"The extraordinary expenditure is
on account OF pensions. The prodig-
ious increase in this line OF expendi-
ture began about ten years ago. In
1857 the sum paid on account OF pen
sions was just about S75,0OO,OO The
average FOR the last FIVE years has ex-
ceeded sl4Q, ,OOO, 900, and this year will
approach $3.50, 100000. For five years the
treasury has,. been running behind,
mainly on account of this increase,
and by just about the amount of it.
Now since the paymetats on account of
pensions cannot be stopped or reduced
it seems certain that the bonded debt
of the United States must contifrIla to
increase. Some economies doubtless,
can be enforced In various dapart- ]
ments, but the total will amount to
little. The probabilities are that so
long as pension payments continue at
nearly present figures, the public debt
will increase at the rate of 0,0O0, 900
to S75. 900, 900 year."
This is rather discouraging state
ment coming from staunch advocate
of the administration, and especially
one that promised before the 1896 elec-
tion that there would be no more bond |
issues after the republican party |
should be installed into power. a
''reYenue tariff bill enacted, and the |
money question set at rest.
This, however, is no surprise. For
some time it has been evident that the
Dingley law would not produce suffi.
,ient revenues to meet the expendi-
,ures of the government under present
existing circumstances, and that
bond issue would be necessary before
he end of the se:ond year of the pres
INT administration. No one recog-
lized this fact sooner than did the re-
press, and it is not surprising
hat such partisan paper as the Or
'gonlan should begin thus early to
its readers for the inevitable,
md at the same time seek some riew
xcuse for the bond issue that is icer-
ain to come; though it is rather sur
'rising that condition which has ex-
sted for years, and all through the
asst administration, should be tneld up
8 the cause which has made bond is
ues necessary in the past !and will
,ake them necessary in the future.
If it is true that the increasing PEN
ion payments were the cause which
orced Cleveland to issue bonds, it was
known to the republican
ress year ago, when they were lay
,g all the trouble to the tariff and
liver, hence they falsely represented
latters in the campaign sef 1895, and
} now falsify their own >statements
ust be humiliating. But jim such
ying times as are sure to co9ne when
II. Mckinley shall issue bond call, a
DOR excuse will be better than none,
Id, too, an open confession is good
r guilty soul.