The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1898-02-12
Government Finance.

From the Philadelphia (Pa) Ledger, Republican.
The January debt statement showing the
condition of the United States Treasury at
the close of business on January 81 does not
encourage the belief that Mr.. Dingley's hope
full estimates of the effect of his tariff bill on
the revenues made in January will prove any
more reliable than his original estimates.
The Republican party might as well recOg-
nize now, as hereafter, that the tariff bill
passed last year fails in its primary purpose,
that Of supplying sufficient revenue, for I'M
less they do so promptly and pass remedial
measures they will be in great danger OF ell
tering the campaign OF 1898 with as bad
record as the Democrats had in 1896. jug
Cling with the figures so as to conceal the real
facts will not save them, fer day of settle
ment must come. The accounts are now
confused so far as comparisons are concerned
by the exceptional transactions connected
with the sale of the Union Pacific Railroad.
Thus the total receipts of the month of Jan
uary, 1898, amounted to S37, 333, 1928, as COM
pared with $24,3l6,99 in January, 1897.
But this encouraging increase loses all OF Its
significance when it is explained that SO, $685.
40l of this increase came from the sale OF the
Union Pacific Railroad, which has really no
more to do with the case than the flowers that
bloom in the spring. Deducting that amount,
the real increase, from ordinary sources OF
revenue, was 81, 47S, 223, of which about So
600. 900 came from customs duties and the
remainder from internal revenue. The eX-
penditures. however, were also very heavy,
amounting to S36. 696, I'll, an increase OF So
400. 600 over January, 1897. Ofthis increase
81. 900, 900 came from payments on account
of civil and miscellaneous expenditures and
50, OOO. 900 on account Of pensions, the pen
sion payments amounting to S12,315, 223 du-
RUG the month.
The general result is that the deficit of
January. 1898. was S2,Oe0,000 greater than
during January, 1897, the figures being
Deficit for January, 1898 Excluding receipts
on account of the Unen Pacific Railroad,
81. 9Ol ,4S4; deficit for January, 1897, ,952,
395. The returns for seven months are still
less encouraging. but that was to have been
expected, advance importations depnvlng the
Government of some revenue from customs
that would ordinarily be received during the
first seven months of the fiscal year. Again,
deducting the receipts from the Union Paclhc
Railroad, the ordinary receipts ior seveu
months amount to $l87, 537 ,379. This IN an
increase of ST, 600, 900 compared with the hrSt
seven months of 1897 and is so far encouraging,
but the increase came entirely from internal
revenues Eliminating the miscellaneous re-
cents from both years accounts the increase
for seven months of 1898 compared win
seven months of 1861 is SS,0O0,0O0 But
the internal revenue receipts alone Increased
ST. 600. 600. the customs receipts largely de-
creasing. We have no doubt that future
months will show an Improvement III inns
respect. but the January return leaves no
hone that the deficit can be wiped out before
the end of the fiscal year. mat uehclI
amounts to S51, 9O1 1923, this being the amount
exceeded
by the ordinary expenditures. 1t would re
oI,ire a gain of more than SIC, 200, 600 a month
for the next five months to overcome the de-
felt. For the first seven months OF the hscal
wear 1897 the deficit was S43, 854, 19l, SO that
this wear we have gone SS,0O0.OoO more to
the bad. IN
Expenditures are increasing more rapidly
than receipts, and it is extremely improbable
that the DiMgley bill can, i'll full normal
wear. produce enough revenue from customs
to make up the amount required Tor the eX-
penditures of the Government. Patriotic
congressman of all parties, and especially
Republicans, who are charged with the gov
eminent Of the country, ought to lace theSe
facts and devise some means OF increasing
revenues. so as to put the Government finances
so far as they relate to receipts and eXpeadi-
tures on IL sound basis. 1t is bad enough to
have the currency laws left as they are, with
out attempting to amend them in the dlrec-
tion pointed out by experienced inanclerS.
but waen in addition to bad currency laws
the Government itself is left TO he supported
bv bond issues or by encroachments upon the
reserves the situation is rendered much worse
The plain facts of the case are that Congress
has failed thus far to provide sufficient reve,,
nue. for the support of the Government, and
the Republican party will necessarily be held
responsible for this failure at the CongreS-
siena election of 1898, and possibly 1T the
Pre- idential election of 1900.