The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-05-15
DEFICIT TO
Be ENORMOUS
Estimated That, 1t Will Reach
Scvcnty-sevcn Millions at
End Of Next Year.
PANAMA PAYMENT TO BE MADE
If Democrats Elect President lie
Will Find Treasury in De
pleted Condition.
PANAMA PAYMENT TO Be MADE
From our Regular Correspondents

(From Our Regular Correspondent)
WASHINGTON. y. c.. May 1l.--The
estimated deficit which will exist In tile
national treasury at the end of the next
fiscal year will reach s770oocoo. This
amount Is based upon the assumption
that tho income Of the government will
be as great for the next year or two
as It has been In the past five years.
whs'h is hardly likely as 1t Is an as
sured fact that business is not so good
as 1t was two years ago or even one
ycat ago.
The deficit which Will exist will be
In spite OF the policy OF the Republicans
to hold down on appropriations all pos
slble during tho session of Congress
which has recently ended. II they had
allowed to be made the appropriations
which were sought, and which, in many
cases. were needed, tho sum would have
long before the next fiscal year ended.
OF much larger proportions than the one
which Will confront the government at
the end Of the year 1906.
There Is present deficit In the treas
ury of s132,25S. The present year WILL
end with a heavy deficit. for the Panama
Canal property has to be paid for this
year, and there is no corresponding
cutting down of expenses to meet the In
creased outlay OF forty millions.
Should the Democrats elect a President
this fall he would be confronted BY u
depleted treasury when lie assumed the
duties Of office. Immediately there would
30 UP from every section of the country
a howl against the Democratic party,
and perhaps a demand for the return
of the Republican, party to power. That;
was tho experience Of Mr.. Cleveland In.
1893. When he went into office II, that
year, there was only a little more than
two million dollars in the treasury, and
Immediately he was confronted with the
necessity OF finding a means of raising
money to defray the cost OF government.
1t Is worthy Of note that the two million
dollars In the treasury at the end OF the
fiscal year 1893 were accumulated during
the first four months Of Mr.. Cleveland'sa
administration. The treasury had been
made absolutely bare during Mr.. Harri-
sons administration.
It is interesting to speculate whether
the Republicans are not now contem-
plating the repetition OF history the
surrender Of the sucked orange to the
Democrats again this year. They have
been steadily hammerlng away at the
surplus for the past three or four years.
in 1902 the surplus at the close OF the
fiscal year amounted to sol ,2s7,3 75. AT the
close OF the fiscal year 1908, the surplus
had been cut down to s54,297 667. and
now this has been dissipated. and In
its stead there Is a deficit OF Sl32, los as
stated above.
The history Of the. state OF the treas.
ury every year since the foundation OF
the government has never been written,
but some day 1t will be and those
dry figures are going to make highy
valuable reading They will tell the
story of the rise and fall Of adminlstra-
lions as nothing else Will do, and VIII
reveal to the people the truth OF me
CORRUPTION and extravaganza of Repuoll-
can administration. It is n favorite say
ing IN washington that the people ike
extravaganza in the administrator OF
government, that tho economy prAc.leeu
by Democratic administrations IS largely
responsible for the frequent defeat OF
that party at the polls. There is some,
what of truth in this, probably, DIV, :
always think of old Roger q. NILS
Forgotten Man" when such remains
are made Ten years ago. or less. ai, '
Congress had passed numerous DIS
making the most extravaganza appropria-
lions Of the peoples money, senator
Mills. in a brief speech. besousht con
sheraton for the Forgotten Man-the
Taxpayer. His words had no effect III re-.
ducIng the expenditure Of money put
tbcv set the country to thinking. u IS
precious little consideration that the For
gotten Man receives here In Washing
top. hut some day he will take It into
his head to make himself remembered.
TJe knows he Is able to do so when ne
ohn + N Us.