Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-08
WHICH SHALL 1T BE:

IL certain figures in the annual report
OF secretary-of- the-Treasury Gage prove
ANYTHING. IT is that we are advancing by
leaps and bounds towards either national
bankruptcy or a tremendous increase in
taxation.
According TO Mr. Cages estimates, the
public expenditures for the fiscal year,
ending June. 1899, will be--we give round
numbers-S69O. 0O0O 900, against a revenue OF
t57S. 900. Consequently, there will be a
deficit of sl12,OOOOCO.
It is true that there is reserve of some
s2lO.O00O00 on hand. But how was that
reserve accumulated? BY borrowing IT
represents the money left in the Treasury
by Mr.. Cleveland as the proceeds of loans
he was forced TO resort to by the extra
sagance of the Republican administration
that preceded him. and the receipts from
the sale of 500 10000 of Mr.. Cages war
bonds. The deficit of SIP, 100000 must, of
course. be met almost entirely out Of this
reserve, seeing that the net proceeds of
the Union Pacific and Kansas Pacific rail-
road refunds have been spent, and COM
faratively little will accrue from the Cen
trail Pacific. Therefore, the close of the
20 about Sl2sOO0,OOO.
1t is also true that in Mr.. Cages estl-
mates of expenditures for the present
fiscal year there are items of $25OOOO,00O
for the army and $GO,OOO,0O0 for the navy.
and that he puts down the deficit for the
fiscal year 1900 at only $S0O00,0oo At first
blush this would seem TO impart more
hopeful aspect 10 the outlook. But Mr..
Gage bases his estimates for 1900 on ox-
listing laws, and the assumptions vio-
lent assumpton-that the Republican
party can be depended upon to practice
economy. AS opposed to the apparently
more favorable outlook and the assump-
ton We have noted, we have the demand
Of the Imperialists for standing army
of 100000 men. and the necessity of con-
tinued increase in the strength OF our
naval establishment. If the Philippines
are annexed, what with the military
force we viii have TO maintain IL our
outlying territory, our army will at the
lowest calculation, cost us $l50,OCO,C0O per
annum. What the navy will cost we have
mt present no means Of knowing; bul the
sum will be a vast one. The civil war
pension list is steadily increasing, and the
prospect is that 1t will not reach the top
notch in years TO come. To this we must
add 900 to be paid to Spain for the
cession OF the Philippines, and also the
Spanish-American war pension eXpendi-
lures, which are estimated at not less
than $20000.oo0 am ually as a beginning
Last, but not ieas,, we must consider the
pay of the new Est of offlce-holders, who
viii be enlisted dnder the banner of "hu-
mantarianism"--or vampirism-to ad-
minister the civil affairs OF our islands of
the sea.
When all this is taken into account,
the brighter hue OF Mr. Cages outlook
beyond the end of this fiscal year fades
rapidly. II is clear as a mere mathemati-
cal proposition that II the policy of MIR.
Mckinley and his imperialistie support
ers is 20 prevail, we will have to borrow
10 the point OF weakening our credit, II
not of bringing on bankruptcy, or will
have to grind the life out of our people
by taxation. 1t is as plain as pike staff
that we must embrace one or the other
OF these alternatives or reject imperial
Ism