New-York tribune., 1904-09-06
4ExrRATAGANCE" AND ~Ec0yoMY,

Many Democratic newspapers and orators
are taking up and exploiting the misleading
arraignment of Republican extravaganza"
made by the Hon Henry q. Davis in his White
Sulphur Springs acceptance speech. In that
speech Air. Davis said:
The receipts of the government for the year
ending June 80, 1902, the first fiscal year of the
present administration, showed a surplus over
expenditures of S91, 100000; but for the fiscal
year ending June 80. 1904, instead of surplus,
there was a deficit Of S41.000O00. There
could be no stronger evidence of the extrava-
gance into which the Republican party has
fallen. and no more potent argument in behalf
Of change to the party whose tenets have
always embraced prudence and economy in ad-
nantster1ng the peoples affairs.
'sThe New-York World" recently varied that
statement IN the following arraignment of
President Roosevelt:
You and the Congress of your party have con-
verted a surplus of SSOOO0O0O in 1900 into a
ended.
We have shown repeatedly the utter disin-
genuousneSs Of such charges. Mr.. Davis and
The World" would have us think that Re
publican "extravaganee" accounts for the sud
den and startling shift which they deplore in
the Treasury's balances. AS matter of fact
Congress has twice reduced taxation since 1900
the repeating acts Of 1901 and 1902 sweeping
away all the emergency revenue taxes laid
0A12AS S--O Wax Will SpdlH anu cuLlQg IDe
governments income by at least S1O0OO0OOO
The second of these acts did not go into effect
until after June so. 1902. the close OF the year
which, according TO Mr.. Davis's showing pro-
duced surplus Of SCI, 100000 The reduction
IN revenue effected under this second act has
been estimated at S60000OOe. So the normal
surplus for 1o02-03 or 19o3-o4 should have been
about S30,000.0O0.
The Democratic candidate for Vice President
and The World" both valiantly insist that the
deficit for 10000 was over S40,0O0O0O But
this result can be produced only by including
among the governments ordinary expenditures
the S5o,O00000 paid in cash for right of way
across the Panama Tsthmus and for the canal
plant left there by the French Panama Com
paDy. Having superabundance of savings in
the Treasury. Congress thought il best to In
vest $J0.0eo,9e0 outright in the interoceanic
canal enterprise, instead Of throwing the en-
tire cost on posterity. as might have been done
by authorizing bond issue. Yet these cap
fious economists include this extraordinary dis
bursemeHf in the current expenses Of the year
and thus bring ert trick adverse balance of
S41000,000. as matter of record, the excess
Of ordinary receipts over ordinary expenses for
10000 was about 100000; and Republican
extravaganza" was thus responsible for n de-
crease IN that years normal balance of about
$21. 100000.
Sifted TO the bottom, these charges OF Repub-
Hcan extravaganza merely show that national
expenditures are steadily growing, and that
they VIII continue 10 grow. no matter what
administration comes into power. Democratic
"keynoters" clamor vaguely fer economy"
But they are much too cautious to specify the
economies they will make Are they willing to
abandon our programme of naval development,
to -educe the army. to abandon the Panama
Canal. TO cut down pension expenditures 80 for
swear river aud harDor improvements or 10
abolish the rural free delivery serviceG The
Memorable platform squirnas and doubles on