Daily independent. [volume] (Elko, Nev.) 188?-1915, 1897-10-18
D1NGLEY.s DEFICIT PRODUCER.


forms the country through the New
York World that his celebrated tariff
act may reasonably be expected to
produce deficit in the governments
revenue Of something like CSC, 100000
before it can be expected 10 make its
benign influence felt. Between Mr..
Reeds ~state Of mind" as panacea
for financial evils and Mr.. DinRley's
deficit-produclng tariff act the coun-
try has some rare prospects before it.
Mr.: Dingley says the deficit will be
the natural result Of the vast impor-
tations that took place before the bill
went into effect but we think it must
be cleat to all sensible persons who
know the character and effect Of the
Wilson protection bin that the impor-
tatioDs in anticipation Of the enact
1heut OF the. Dlngley law paid their
due proportion Of revenue into the
treasury-so that these importations,
Instead Of contributing to the deficit,
have actually tended to cut it down
by adding to The resources Of the
treasury.
But what effect will the predicted
deficit have on our tDancesP The
Republicans during the campaign of
last year declared over and over again
ton the Bond issues were occasioned
by the treasury deficit, aud they
raked Mi. Cleveland fore and aft
especially aft in the. nature of
things-tor permitting such a dan,
gerous thing as deficit to make it's
appearance, thus compelling the
government to issue bonds III time of
peace. And not only Mr.. Cleveland,
but the democratic party, was called
harehly to task for enacting tariff
law that would create such terrible
thing rs deficit. =. .-... d
In the face OF all this, Mr.. Dingley
comes out boldly and says the deli.
cit under his celebrated monopoly
Feeding and trust threading act will
amount to s5o.OOO,0 600 the first year.
If the republican theory OF bond is
sues is true Mr.. Mckinley will have
70 engage in that business before he
is many months older. III the failure
Of the treasury income to Keep even
with the out go makes it necessary to
issue bonds in time of peace, Mr.. Nc
hinley Tin the interim of appointing
negro postm&sters IN the isouth1 would
do well to have his bond plates pre-
pared. The so-caIled deficit under
Cleveland had not reached S25,OOO,-
600 before he was compelled to issue
S110;O00,O00 of bonds. This being DO
nothing short Of an issue of S200, OO0,-
600 viii satisfy the deficiency promis-
ed by Mr.. Oingley as the result Of his
wonderful Law. '..' -''' w..
AS the Sensible men know however,
there was no such thing under the
Cleveland administration as an issue
OF bonds to cover deficit. The VIC.
lation OF law by which Mr.. Cleveland
made greenbaoks and treasury notes
payable in gold instead of coin drove
$3OO,OOc000 Of our gold abroad, und
MIR. Cleveland, acting as the partner
OF the gold grabbers, issued bonds to
buy the gold back. That was ell there
was to the bond issues. ..
1t is a very fortunate thing for the
republican trainers of the Dingley
law that Che cheapening of the gold
dollar with respect to a number of
commodities has helped business and
revived hope in the minds Of the peo.
pie, otherwise the so-called deficit
would have assumed alarming pro-
portions-for the treasury receipts
are in direct ratio with the prosperity
OF the people. Atlanta Constitu.
ton. SD