Iron County register., 1898-12-15
Statement of the Treasury.


The people will find a good many
things to think about in the report of
the secretary of the treasury. The ex-
hibit shows that the deficit for the f.
cal year ended June so. 1898, was $685.
000 900; for the current fiscal year the
deficit will be $112. 200. 900, and $780,
600 600 for the fiscal year ending In
1900. The cost of the war is included
in the expense account of the last quar-
ter of the last and in the estimates for
the current year, which is right and
proper. But the bond sale aud the
payments of the Pacific railways ag-
gregate good deal more than enough
to cover every expense of the war. up
to and including the expenses of the
several evacuation and peace com mis-
sions and the $50. 900, 600 that is to be
paid to Spain.
The payments by the Pacific railway,
S64 ,0O0, 900. were received by the
treasury during the last fiscal year,
but the proceeds of the bond sale did
not reach the government until after
the current year had opened. That
sum was 5000, 100000. To this may
be added the estimated income from
the war revenue tax of 800. 900, 900,
making the total amount from extraor-
binary sources of revenue for the cur
rent fiscal year $500. 900, ,000-$200,-
900, 900 being borrowed money. As
suming that the proceeds from the bond
sale and the payments OF the Pacific
railways are sufficient to cover the
cost of the war, including operations
until peace treaty shall have been
signed, the finding is that with au in
creased expenditure of $159. 100000
by the naval and military establish
ments during the current fiscal year,
the deficit will be $112. 900, 900, not
withstanding the extraordinary addi-
tional income from the war tax of
500, 900, 900. That is to say, the de-
felt and the war tax will aggregate
1912. 900, 600 while the estimated total
increase in expenditures will be only
$157. 900, 900. If this means anything,
it means that there are plans for ex-
pendItures in the current year of vast
sums of money in enterprises that pru-
dence suggests should be kept under
close cover.
But. in any event, in addition to pay
ing 800, 900. 900 during the current
year in extra stamp taxes. the people
will have to raise $112. 2.0O0,0 900 more
to make good the deficit, and $50. .O00,-
900 for the deficit in the following
year The reason why the deficit will
fall from $112. 900, 900 in this fiscal
year to $50, 900. 900 in the year ending
in 1900. is that the estimates for the
army and navy establishments in that
year are 1926, 900, 900 less than for the
current year. and that by increases in
receipts and decreases in other expense
accounts the total expenditures for the
year ending in 1900 will be less than
in the current year. 1t must be borne
in mind that the cost of governing the
colonies is not included in the estimates
for this or the next fiscal year. What
that expense will be no one could tell.
The net ANNUAL cost of maintaining
ourselves in the Philippines alone has
!
it would not be unless the Filipiuos
should conclude to continue their
armed struggle for independence. At
best, however, the several domestic
and foreign policies of President Nc
Kinley have already saddled enormous
taxes upon the people. and they are
more likely to increase than decrease
from year to year.-K. c. Times.