New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-08
THE TREASURY REPORT.

The first Treasury report for thirty three
years which has had TO deal with expenditures
in war has a peculiar interest. The financial
methods by which great and united sclf-@Ov-
eIrlg Nation prepares for and conducts war
by land and sea have never before been OK
hb.trd on this continent. for the Nation was
hardly great in 1872. the Mexican War involved
10 Siiugce by sea. and in 1851 the Nation WAS
not united. Its power has been shown for tho
first 'inc. though only in part. Secretary
Cages report is therefore studied in all lands
with deep interest. for wars in this age alc
CGTIi"d On win money. No one VIII question
itS great ability. clcarrcSs and admirable tone
IN dealing with points in controversy. II has
20 meet on crcat disadvantages that not many
hGro and fewer abroad viii bc able 10 keep
constantly N mind that ii deals with fiscal
Hrar which ended five months ago. and more
than Il month before fighting ceased. Ncc, :
sarily /; covers hut part of tho cost Of tho war
thou "a thc large expense incurred in propI
ration.
The comparison Of expenditures shows in TIC
ciyil j., h't small changes. mainly drc 10
Pacific Railroad settlements. the decrease In
SUGAR bouutic> and in postal deficiencies. The
War Department expenditures of the fiscal year
we" >Ecli,d Ivy river and harbOr improve
mcn'> srd srllc small items not related to the
war a'.r' ST.'f.I.000 beyond those of the prcvl-
"~s yea" Ter Ike purposes leaving an increase
Il S:"'ic''.s>2 "a the itcMS which represent ont
llvS ii so months of preparation after the
sirShe Of tie Maine and over two months Of
:ctral $50 In Ike manner the naval OK
lond.ti'r,. .arw such IN increase of about
$.s.Go10Hp so That not far from SGi.o00.0M
If tnr yea, outlay mas probably be charged
~ the 49, This happens TO he slightly less
than The so - poi received from sales Of tho
Vision I'D ;rsas Pacific railways Int Of this
:-9.S.J19.. vent To redemption of subsidy
bonds ara IS 10 surplus revenue was expect
I'd IN tiir LIS; fiscal year from the act of 1891
the Nation proceeded promptly to prepare for
hravy wa oUtlays Tho quic'; appropriation
Of $IO.octOg0 for National defence showed tn,
,airit Of ,lo people and the authorization of 7
war loan wiz. ,hr special revenue act followed
in cn',lc t'sc.
SccYctil, Gr-, - ;"us>'s tho loan act viii
ample r.. tic: Of o." desire of Congress (,
secure q wG. distribution of the bonds amoE2
The poa,ic VIII" n possible premium Ct
SaCoowN cr more might have been obtained
hy competitive bids. hc says: "Thc experiment
may 30 considered a justfabc one. and j
"wcr',cd OFT in n way 10 strengthen the NJ
't.onal credit" Tho fact that the S2000oO,01
WIS covered by subscriptions many times o'cl
exhibited 20 all countries the spirit Of tho poo
pie as nothing else could. and instantly i'm
pressed Other Powers with n sense Of the &c
sources NJ command Of the United States
should larger struggle arise. II IL not I'M
possible hat this demonstration helped 10 sue
cess and safety more than the country rcalizcF
TEe wisdom % Congress in fixing the terms OF
the loan as TO insure its success without any
considerable sacrifice the Secretary recognizes
while suggesting that like wisdom and accu
rate judgment Of conditions will be needed to