The Van Buren press., 1897-08-07
First Month of the Fiscal Tear Under
Republican Rule.

w ASHlNGTOA, Aug. Z4-1ne Ddldnce
sheet of the treasury for the first month
of the new fiscal year under Repub-
lican administration does not make
such a showing as TO fill the heart of
Secretary Gage with unalloyed
pleasure. In the face of anticipating
importations larger than at any time in
the previous history of the country,
the end of the month of July found a
deficit in the treasury, not small and
insignificant thing but deficit aggre-
eating nearly 81 900, 600 This is an
extraordinary result, when the unusual
ilnportations to escape higher duties are
taken into consideration, to say moth.
ing of the extra payments into the
treasury by brewers to save the ~ per
cent rebate on beer stamps.
These two causes operated during the
month to increase the aggregate of col
lections to fraction less than $40, 600,
900, or s5 per cent more than the
normal receipts for month under the
old law During July of 1896 the
receipts from all sources aggregated
only little less than $50, 200, 900.
This unusual increase ought, it
seems, to have put the treasury on an
even keel for the one month of July,
anyhow. but great as was the increase
in the revenues it did not begin to meet
the expenditures which, with the most
artful manipulation of accounts and the
holding back of warrants that could
wait, ran up to almost $50, 900, 900, as
against little more than S42 900, 900
for the corresponding month last year.
One of the chief causes of this in
crease in public expenditures is due to
the Republican pension policy. Experts
who have figured ON this question say
there will be deficit by the end of the
year of almost $40, 900, 900 in the
pension account alone.
The pension bill for July alone aggre-
gated s14, 95s, 900, which is almost 81,
000, 900 in excess of the pension account
for the same month last year. As was
stated in The Republic some months
ago, just prior to the commencement of
the new fiscal year, all allowances for
new pensions were held up until the
new year began, because there was no
money to meet them, and the July
deficit was caused by the payment of
these pensions, and deficit then
existed of nearly 81, 900, 900. The
pension appropriation bill for the
current fiscal year amounts to $1H,
900, 900, and at the present rate the
next bill will foot up not less than
$3.50, 900, 900.
Several years ago when the late
Samuel J. Randall was chairman of the
committee of appropriations, he re-
ported a pension bill to the house carry
ing something less than $40, 900, 900.
In making the report he apologized to
the house for the amount, stating that
the committee believed the high water
mark had been reached. Mr. Ran
dali $ predictions were not realized.
The further we are removed from the
late civil war the greater becomes the
pension roll.
The end does not yet appear in sight
The government is still climbing the
hill toward the summit of pension
appropriations. When the descent will
begin is matter which belongs entire
ly to the realm of conjecture. The
effect of the policy of the new admin
istration in removing some of the re-
quirements as to evidence to substan
tate claims for pensions is manifesting
itself in the pension accounts of the
government.
Under that policy, which Republicans
say is Liberal, it is probable that the
payments for pensions will reach the
highest figures this year in the history
of the country.
How the enormous increases here and
elsewhere are to be met is question
with which treasury officials are very
seriously wrestling. The maximum of
receipts was reached last month, and
there must necessarily be reduction
during the present month owing to the
enforcement of the new rates of duties
and the lessening of the total of
importations. In all probability the
internal revenue receipts will become
normal again by next month, but the
customs officials do not anticipate any
change for the better in their depart
ment for many months to come.