New-York tribune., 1904-10-03
MR. DAVIgg LETTER.

In bis letter Of acceptance the Hon. Henry G.
Davis deals very gingerly and cautiously with
national issues. As in his speech at the White
Sulphur Springs. be SHES at genuine political
discussion. he presents few scattering criu-
cisms of Republican policy, but has no intelligi-
ble or positive programme Of his own to offer.
IT might have been expected that the venerable
candidate for NicePresident would discard IN
this formal letter some Of the misstatements
Eand evasions which marred his earlier cam
rpaign utterances. We regret TO say that, though
modified. these distortions OF fact have not been
isQuarely and honestly abandoned.
In repeating his charges of 'prOhigacy"
-agsinst Republican administration Mr.. Davis
says:
When the present administration went into
power there was a large surplus. but. nOtwth
standing the enormous taxation. the revenues
EherefrOm are not now adequate to meet the
demands made by reckless appropriations The
sSevenues fell short during the last fiscal year
Toy over $4O.OOO.OOO. In the first sixty days Of
ifhis fiscal year the expenditures exceeded the
lrooeipts by S24O00O0O and il this rate OF ex-
cess should continue the deficit for the present
fiscal year would be in the neighbOThoOd OF
Sl40000oo0
This paragraph is a model Of dlsingenuous
and deceptive statement Since the present
she Mckinley Roosevelt came
into power Congress has twice reduced taxa
hon. The total income sacrificed by the reduc-
sioR acts of 1901 and 1902 was over SlO0.0O0,-
COO The unwieIdy surpluses OF 1899, 1900, 1901
ana 1902 have naturally been wiped out Yet
Il Is mere frickery 20 charge the resulting de-
crease in Treasury balances 10 reckless ex-
tpenditures" ana RECKLESS expenditures only
u Is equally misleading TO suggest that the or
dinaTy receipts for 1sO3'O4 fell short OF the or
dinsTy expenditures by over S4OOO0OOO. The
deficit FOR 1e03'04 was caused by an extraOr-
dinary expenditure or $4,000, ,0OO-used to pur-
chase the Panama Canal strip and the French
Panama COmpany's canal plant Was this a
reckless" outlay? Mr.. Davis does not dare 10
say SO. For IN another paragraph IN his letter
he halls that purchase as the harbnger of the
new era in the commerce OF the world" But
had the government not made this laudable spe-
cial investment the excess Of receipts over ex-
lpentifures fOr 10000 would have been about
Z s9.OoOoOO.
In intimating that the deficit for l904-O5 will
reach sl40Gooo00 the Democratic candidate
for Vice president also cOnvicts himself Of the
! cheapest Juggling with figures. he takes the
deficit 20. the first two months OF the year
! July and Ansust-and mulrples that deficit by
six. But this Is G method only a schoolboy
rgOule use. Mr. Davis's letter Is dated October
g. II he had taken the trouble 20 consult the
Treasury statement for September so. he would
have seen the Erosesgueness Of his rough and
ready calculation. The dencit FOR the first three
months OF the fiscal year Is shown TO be only
Sl7.ssa,25G. Multiplying that deficit by four
sccoTding TO his infallible systematic indicated
icefelt for the year is about 81, 100000. In
Thirty days the West Virginia statesman's I'm
fa2inafy annual cef'cit has been cut in two. But
whit is blunder OF se9iooo.oo0 In the wabblins
balance sheet Of e Democratic economist?
Ar. Davis helped TO frame and voted TO re
port az St Louis C. tariff plank declaring tha
''prctectson IS a robbery ot the many TO enriel
the few" Sow he Is saying on the stump tina
llroiecuon ceases 10 be robbery when IL be
comes '1ncidcntal' The defence in his lette
- tarl1 duties as wise and Convenient an
LIS a1geal for "cooservetiEe and gradual" rc