The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-07-02
A Record Of Stewardship.

ingtOn correspondence OF the view 1oTK
Sun a narratives about money; record
of Republican national stewardship in
the efficient conduct of the public
business of the republic, 1t is some-
thing which should be read and pom
dered by every voter.
"At the end of the fiscal year which
closed June 30," the Sun article says.
"the available cash balance in the
United States treasury Is larger than
ever before in the history OF the gov
ernment. 1t stands at s20s, $3.50, ,022. The
excess of receipts over expenditures for
the year is also very large, the treas
ury surplus of $92, 193, 800 being larger
than in any year since 1883, and ex-
ceeded in only ten years since the
foundation of the government. In
nearly every one of these ten years the
revenues of the government had been
swelled by extraordinary taxation to
meet the expenditures of past war
period. At this time, also, the general
fund in the treasury is enormously
larger than ever before. the amount
being more than s2s9, $1,000 as against
about $15S, 900 one year ago.
1.-The United States government now
has a stock of gold in the treasury be-
lieved to be larger than any similar
stock anywhere in the world. The
amount OF gold coin, bullion and GER
tificates in the treasury is $60S. .173, ,412
Added to this is gold in circulation
throughout the country which raises
the total amount to not less than ST.
200. 100000.
aside from the great increases in
the available cash balance. the treas
ury surplus and the stock Of gold, the
notable things in the condition Of the
treasury today are that since year
ago the amount OF national bank cur
rency in the treasury has increased by
nearly s2,O0O,O00; the amount of stand
ard silver dollars, silver certificates,
bullion and subsidiary silver coin from
about S32, 100000 to about $39, 100000, and
the government funds in national bank
repositories from $1O1, ,O0O, 900 to $l27,-
| 0OO. 900
"The large amount of the cash bal
ance and of the treasury surplus is re-
Garded by the treasury officials as the
more notable from the fact that many
million dollars OF revenue We're sacri-
feed during the fiscal year by the re-
peal OF war taxes in the spring of 1901
and that efforts We're made both by
Secretary Gage and Secretary Shaw so
to manage the treasury administration
tn L,na al, <,e 1rs1 I,
cash balance and the surplus. A year
ago Mr. Gage. then secretary of the
treasury, predicted that the surplus for
the coming fiscal year would be not
less than 100000, 900, despite the fact
| that many war taxes had been repealed.
Within few months, however, he set
to work to reduce the prospective
growth of the cash balance by con-
tinuing the purchase of government
bonds, and he made liberal deposits of
government funds in national bank de-
positories Secretary Shaw discon-
tinued the purchase of bonds soon after
he came into office, but he soon in
creased by thirty or forty millions the
deposits in national banks. Despite
these measures, however, the enormous
prosperity of the country caused the
growth of the cash balance and the
surplus to go on almost unchecked.
at was estimated early In 1901, at the
time the measure for repeating the war
taxes was under consideration by the
senate finance committee, that the pro-
posed amendments would cause fall
ing off in internal revenue receipts dur
ing the fiscal year of not less than $40,-
100000. The prosperity of business has
been such, however, that the reduction
in internal revenue receipts for the
fiscal year has been only Il little more
| than $34,000,000. The total receipts of
the government from all sources during
the last year We're $563 ,1S7. or these
1854, 456,927 were from customs, an in
| crease of nearly $16,OOOOOO over the rec
ord of the year before; $272 ,5O32l4 from
| internal revenue and $36445, ,O46 from
| miscellaneous sources.
"The increased surplus for the year
was due, however, not so much to in
creased revenues as to decreased ex-
penditures, the total disbursements
being SAT- ,797, as against $500, SO, 1853
last year. Owing 10 the practical ces-
sation of fighting in the Philippines and
the consequent less expensive adminls-
tration of the war department, the
military establishment called for an eX-
penditure of only about $l12, 900, 900 dur
| ing the last fiscal year as against about
$l45OOO,OOO in the fiscal year of 1901.
The navy department, on the other
hand, cost about $5.OOOOOO more this
year than last, but the payments on
| account of interest ON the national debt
We're about 100000 less, and on ac-
| during the last year.
If the United States were a private
corporation, such management of its
affairs as this would earn for the men
who are responsible for it the continued
confidence and esteem of its stockhold-
ers and there would be no question OF
their retention In office, Taxpaying
voters may well feel that they are
stockholders In such an ably managed
government and that their dividends
are satisfactory.
Union painters of Baldwinsville, N.
", have declared boycott upon the
town cemetery because the fence was
painted by non-union men. Most of us
would be willing to boycott the ceme-
terles regardless of who paints the
fences.
In certain foolhardy circles the cam