The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-04-14

While one department. OF the govern
ment IL busily occupied spending money
in an extraordinary emergency. an
other branch is anxiously watching the
condition Of the revenue. It Is matter
Of considerable consequence to the
people Of the United States who are
now cheeffuily asserting to the incur
ring OF an outlay which will take q
surplus for q long time to balance 1t.
In the month Of March receipts were
more than 81. 600. 900 In excess OF ex-
penditures. Already the government
had begun to spend money in prepare
ton for war. but on the other hand
some Of the receipts were payments on
the Pacific railroad sales 1t Ia esti-
mated that after making deductions on
both sides Of the ledger for these abb
normal items there was surplus Of
about $500. 900. On the basis Of the
ordinary revenue in March the receipts
for twelve months would exceed the ex-
penditures Of any year since the civil
war period. It is very gratifying to
learn, therefore. that the treasury re-
ceipts for April are fully up to the aver
age Of those Of the previous month.
Already the effects Of the warlike sit
uation are being felt in business circles.
and treasury officials express the be-
lief that the receipts Turing March
would have been $2.Oo0.O 900 or $4,000, 900
more had it-not been for the war excite.
ment This Is rather more loss than
might have been expected 50 soon, and
1t affords some idea OF the sacrifice that
must be made II war Is to be prosecuted.
The people viii be called upon to make
q still greater sacrifice, and perhaps
that is one reason why the president is
placing upon the representatives of the
people In congress responsibility for in
curing the necessary expenditures.
Knowing the opposition that would be
made to a bond issue. 1t is already sug-
gested that large part Of the addition
taxation. The Dingley act was framed
to meet peace conditions. but IL we en-
ter upon a war its schedule would be
insufficient. Already congress is be-
ginning to consider how the money is to
be raised. and 1t will no doubt assume
that since the people are so anxious for
war they will cheerfully submit to the
additional taxation necessary to defray
the cost.
Should it become necessary to borrow
money. the credit OF the nation will
easily secure 1t. The treasury Is in bet
ter condition now than at any time
since 1880. with every promise OF con-
tinued Improvement. United States Sc
curtties rank higher than those of any
other government In the world. with a
possible exception Of those Of England;
and gold Is flowing into the country
with profusion never before seen at
this season Of the year
We are In a very different condition
to that which confronted us when the
war OF the rebellion broke out. There
Was no money in the treasury and an
effort made in the latter days of Bu-
chanan's administration to float a loan
was met with most discouraging
apathy. AT that time the Northern
states comprised only about fourth
of the population Of the present united
nation. and the national wealth was
less than fifth OF it's present volume.
War Is costly. but II it is inevitable
We are in condition TO carry 1t on
without embarrassment. Should a loan
become necessary and bonds be issued.
there Is no doubt that a very consider
able part OF It would be taken by our
own people instead OF our having 10 70
into the markets OF the world and seek
IL as favor. Pavors Of that Kind al
ways have to be paid for.
-
III Is reported by a recent visitor 20 Eng
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