New-York tribune., 1904-09-02
TIE AIGEST nEEICLT-

Democratic alarmistS will be gravely dsap-
pointed at the Treasury showing for August.
After Juys deficit Of S17,390.6l2, last months
deficit Of S6,3S2. cog seems unex pectedly mod
crate. 1.-THE Boston Herald" was predicting a
few weeks ago a losing balance for August of
13,000000 losing balance for the first two
months of the hscai year of S300O000O and a
computed losing balance for tho full year of
about SlSn.000O00. Now it must reduce its
computed ANIMAL deficit To about $4,000 600.
by the end of September it may he willing to
knock off another $3O.O0oOO0Aor $40OOO.C00.
And by January next it will probably be
ready 10 admit that the year may end with
no greater deficit than that predicted by the
Treasury Department some $20000.OGO or
S25Oo0O00.
The August summary shows q turn toward
more normal Treasury conditions In July the
expenditures rose Ia an unusual level. The gov
ernment paid out $64177 0O0-S 100000 more
than in July. 1903. For August expenditures
we're Sjl.2SG,000 decrease of nearly $4,000
O00 Receipts also diminished hut in much
smaller ratio. Collections for July were SIG
7s6,3s7. For August they were S44,903, ,391.
But for the payment in July of the Central Pa
cific Railroads debt instalment due August ],
the receipts for August would have exceeded
the receipts for July. As it is, there has been
a gain of S30O0O0O i'm customs dues n gainst
decrease of S1,J00.O00 in internal revenue col
lectons. But miscellaneous receipts owing to
the diverted railroad payment. have fallen from
s.. .06S.O00 in July 10 Onlv 50 100000 in August
Customs receipts are not, however, holding up
10 last years record. In July and August 1903
the customs collections were SECS 2222 This
year they are only $41,901, 42}. And that fall
ing off accounts for the shortage i'm this years
total receipts for the two months OF about
100000
Expenditures continue heavier this year than
last. In July there was an advance over last
years record of 100000. In August there
was an advance of over S7.00OO00. OF the
total increase S5,J00000 las gone to the army
and Sc, 100000 TO the navy The enlargement
of the navy has been. in fact, the chief-almost
the sole-caase Of the enlarged expenditures OF
recent years. Critics who denounce this steady
advance I'm gov yernInent outlay are never willing
10 face the fact that the construction OF new
warships and the maintenance Of an expand
cd naval establishment involve now drains on
national resources. Democratic orators crv
aloud for retrenchment and rail at Treasury
eXtravagance But in Congress Democratic
statesmen vote t0 build and equiD new battle-
ships and cruisers, and I'm its national Mat
form the Democratic party dares no. raise It's
voice against our present policy of naval ex-
pausiOn. Vet afsr sanctioning tho increased
naval expenditures, TO which alone our larger
later budgets are due, Democratic leaders have
the effronteTy 10 ciamOr for economy of adj
ministration" and for reductions in the nations
I annual payroll. Democratic leaders want n
bigger ne-y-or pretend 10 want it-but make
Ury faces aeeut paying for Il. They want the
Panama Canal dug--or say they want it dug
but they Gepinre the hole made in the Treas
iI'y by paZinG cash for the right of way and