The Topeka state journal., 1897-12-03
OUR GROWING DEFICIT.

The indications are becoming more
pronounced every day that the admin
istration ard the congress will find
themselves confronted by a condition,
rather than a theory, in connection
with the government revenues. Not
withstanding the cheerful promises
made for the Dingley tariff bill as a
revenue producer.it seems to be getting
further away from the position of a
measure adequate to the government
needs, all the time.
Said Representative Dingley in the
house on March "A:
our problem is to provide adequate
revenue from duties on imports to car
ry on the government"
In discussing the measure in the
senate OF May &c. Senator AIdrich of
Rhode Island. who had charge of the
bill in the upper body, said:
The adoption of a revenue bill which
should fail in this purpose (Of prOduc-
ing revenue). which should create an
additional deficiency in the immediate
future which would require a further
issuance of bonds to meet current ex-
penditures, would certainly be fatal to
the hopes of future success of any pO-
Htical party responsible for such legls-
latiOn."
The statement of government re
ceipts and expenditures for November
shows deficit for the month of sS,572,
1O9 The deficit for the fiscal year up
to the present time stands at SAG, $751;,
12O The deficit by months since the
beginning of the present fiscal year is
as follows:
July .......... s11 ,073. .545
August ----.-.. ......--.-..--. "A o64' 4S2
September .--.-....-.. -...--.. 5'4S9'1IS
october -..-.. .....-.-....-.-. Sid1O.USt
November ..--..--.-.. ..-...-. S,0tz,lOS
The Dingley bill became a law July
"a
The deficits for the last four fiscal
years, ended June 80, have been as fol-
lows:
1894 ........... $50 sos, ,261
1880 ..----.----. -.--......----- 4z'oO9,zzS
1896 ..--.-...--. ..-....-....... 25,2O3,246
1897 ....-.....-. ....--........- 1S,052,254
For the current fiscal year the deficit
which for the five months already ex-
pired amounts to over s46. .OOO, 900. prom
ises to be larger than for any of the
years given in the foregoing table, un-
less there shall be radical, and. judg-
ing from the present outlook. unex-
pected changes in the relation of re
ceipts to expenditures.
For the periods from July "a, the
date of the passage of the Dingley law,
to the close of the third week in No
vember, the comparative deficits are as
follows:
1895 -........... ...............$10,75 POI
1896 -..--...-. ...--.-.----.- 26'254' al AL
1897 -.---.-..--- ..----.--. ----.- "a, ,140. 439
However it may be figured the COM
parisOns are unfavOrably to the Ding
ley law as a revenue producer. Posi-
bly, the future may bring improve
ment. but the natural fear must be
that the rates of the Dingley law are so
nearly prohibitive as to prove destruc-
tive of revenue-producing qualities
sufficient to meet the needs of the gov
ernment.
1t must be dawning on the minds of
the tariff makers by this time that the
United States, powerful as it is in
some respects. cannot eat its cake and
have it. If foreign importatiOns are
excluded by a prohibitive tariff, duty
cannot be collected upon them.
Mr.. Dingley still expresses confidence
that everything will be all right. but
that feeling by many thoughtful people
is not shared. At present there seems
to be nothing to do but to wait. The
party in power has had its warning
from Senator Aldrich of what may
happen in case things do not go accord
ing to calculation.