The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-09-13
THE DEFICIT GROWING.


Those Panama canal bonds are
mighty convenient for the present ex-
travagant and wasteful national adj
ministration. The government is get
ting hard up. That's a blunt way Of
putting it. but deficit is a deficit,
whether it be in the case of the hum
BILE individual or that of your Uncle
Samuel. The government has about
s12S 000, 900 OF deposits with the ma
tional banks, subject to call. Whether
Secretary Cortelyou will withdraw this
money from the depositaries or issue
Panama canal bonds is unknown. but
the treasury is running lower and lower
each day, and it is only question of a
very short time when the strong box
will have TO be replenished.
Owing to the fact that a national
campaign is on ii is the general belief
that no action will be taken by the
secretary until after election, lest the
wicked Democrats be given an oppor-
tunity to acquaint the people with the
true condition of affairs. But that
bears a strong resemblance to the
habit of the ostrich in hiding its head
in the sand when attacked The or
binary expenses of the government
must be met, and the habit of stand
ing off" creditors by devious methods
is reprehensible in the highest degree.
One of the local Washington papers
I, he eta
Expenditures are to be held down in
the treasury for the next two months
That is important, with political
campaign on. There are many ways of
deferring payments upon appropria-
tions, and some of these numerous
ways will be called into use during this
month and October. The present fiscal
year will show a heavy deficit. much
larger than the last one. So far this
year the deficit has been more or less
annoying to the Republican leaders.
and they feel that ii ought not to in
crease with alarming rapidity from
now on"
How like a Republican. Never open
and above board, but always seeking
to throw dust in the eyes of the people
when an investigation of the true con-
dition of affairs is on foot. 1t will be
remembered that after the millions left
in the treasury by the first Cleveland
administration had been squandered
under Harrison and the country was
practically bankrupt. it became neces-
sary to issue bonds TO uphold the credit
of the United States The plates were
made for printing the bonds and then
the Republicans in power played poll
tics. Cleveland had been reelected by
an overwhelming majority in 1892. anc
| Instead of issuing the bonds and max
ing good with the creditors the Har-
rison administration deliberately al
lowed the debts to accumulate anc
went out of office on the 4th of March
1893. leaving the treasury bare and the
country on the eve OF disastrous
panic.
| or course, at the present time there
| is plenty of money in the country, ano
it will be impossible to produce finan'
cial upheaval in the more than PROB
able event of Mr.. Bryan's election. bu
the Republican administration can be
depended upon to expend the last dollar
and go out of Office next March leaving
the vaults empty and debts piled noun
tain high.
The general government isn't enjoy
IL
ing a season of prosperity, notwith'
standing the countless millions extract
ed from the people under the guise OF
a protective tariff