New-York tribune., 1904-10-04
TIE SEPTEMBER SURPLUS.

Tie September Treasury statement plays
havoc with one Democratic campaign industry
The hit or miss" economists who have been in
sisting that the current year would show some
fabulous deficit like $140000OO0 viii be com
PEELED 10 revise their pipe dream" calculations.
The Hon. Henry g. Davis viii have TO get a
new accountant and write a postscript TO his
grotesquely blundering and misleading letter OF
acceptance. The New-York World may also
feel Ike recalling some Of the fearsome proph-
eces IT has been basing on the Treasury's show
ing for July and August
For those two mOnths-the first two of the
fiscal year-the deficit was about 81 900 600.
Mr.. Davis, The World and other high Demo
cratic authorities have been naTvelv multiplying
that deficit by six and predicting deficit for
the year Of from S140000OOO 70 S144O00OOo.
According 70 their arithmetic September should
have returned deficit OF ST., 600: but, with
a singular disregard Of kindergarten logic. Sep
teInber refused to show q deficit ar all. II per
versely and irratfonally produced a surplus of
SJ.S96 6S3. The New-York Times calls this a
slight excess Of receipts" and The World
also disInisses II as slight surplus Bur what
a jar does this unwarranted slight excess
give 10 the Davis rough and ready" method ~
calculating deficits, For the first quarter. in
stead Of a predicted deficit Of $4,000 ON. We
have actual deficit OF S17s54 2J6 Like the
silver dollars it tried 10 foist on the country.
the Democratic party's introspective deficit bull
letins seem TO De worth Just about half their
face value
The most encouraging feature Of the Septera-
Der report Is the gain IL shows in receirts over
September. 1903 For many months Treasury
receipts have been declining little as COM
pared with receipts in years preceding. For
September. however the total-$46 81 ISIS
ABOUT SI-JOo.0o0 greater than that for Septeru-
Der year ago. Expendtures-S40 AS OOO-are
only about $2.000.OOo higher. SO that the bal
ance Of last year between receipts and expendf-
lures -gravely disturbed in July and August
has been practically restored in Seprember's
fiscal operations. Receipts for the quarter are
stiH short. however Last year for the three
months they reached SABA 072 This year
they are S13s.034, ,462. The disparity in expendf
rures * even greater. For the first quarter lasr
year the total disbursements We're $137. .942 733.
for the first quarter now they are S155. SIS 7la-
an increase Of nearly SIS. .000000
4hls Increase las gone almost entirely t1 the
army and navy. War Department expenditures
have risen from S34.742.O00 10 S4f.7I4 773-
nearly S1,00O.000. The cost Of the navy has en-
creased from So, ,G64 04s to S31 6Is sI47-nearlv
SoOooooo. The economy IN national expendi-
tures demanded by Democratic 'keynoters"
must therefore cOme-if il is 10 come at ali-at
'S-'--4~t u olfc or uotQ or these Services
Democratic Representatives and Senator's vote
IL every Congress 10 increase the naval esta b.
Asnment and then go out on the stump and rail
AT Tie "eXrravagance" which they have sane
Toned But they lack the candor TO confess
lAeF own part in swelling our naval expendi-
lures, as they lack the courage 10 propose an
/ abandonment of the nations purpose TO eree Re-
q credltable and efficient navy. In the same
way they vaguely clamor for smaller and less
Costly army. yet shrink from proposing anv
dennlte measure Of reduction. because thev know
and the country knows-that false economies
ia time Of peace are avenged by monuuar,a1
waste In time Of war
The operations of the first quarter offer no
fair test for gauging the balance for the fuu
hscai year deficit Is indicated. but not
very serious one. On September's shown
however, the kindergarten school Of aIarmIs+s
IS entitled 70 long and we'll earned resi-