Evening journal., 1914-06-22
lNCOMpETENuY AND ExTRAyAeANCr.

II EMocRATlc ncompetency and extravaganza ii
- the management Of he fiscal affairs OF our ma
ton IS proyerbal II is not therefore surprising that
the fiscal programme Che Wilson administration has
broken down, that it and the disregard for party
pledges shown by tic national Democracy are causing
much disquietude to thoughtful men, Democrats and
Republicans alike, in all parts Of the United States
Secretary Of the Treasury McAdoo estimates that
the treasury VIII have on June 80 $3O00OO00 sur
plus Of ordinary receipts ever ordinary expenditures
he processes to elictate himself upon the fact that no
bond issue may be needed even to nay back the say
OVOOOO aavance made during the current fiscal year
from the general fund for Panama Canal construction
purposes The repayment Of that advance really should
De made through a bond issue that posterity may
shoulder fair share Of the cost Of building canal
from which it will derive so much benefit Secretary
McAdoo is very eager, however to avoid bond issue
Whan the Underwood tariff law is on trial He Is
afraid such an issue will lead the public to be-
Heye that, as revenue producer that law is a fail
ure. Commenting upon the national fiscal situation
the New York Tribune says.
Since imports viii increase under the lower Under
wood rates and since the personal income is GER
tain to bring In more money after the Treasury finds
out how to collect il, there is why the I'm
derwood law should not produce enough to go
around until May l. 1916 when the present tax Is to
pc stricken off sugar costing the Treasury from $50
VVOVOo 70 AOOO0O0O After that however the outlook
viii be dark, and what makes IL look darker than it
ought to look is the persistent refusal Congress to
i've up TO Democratic pledges of economy. Ii appro
prauons continue to be boosted they have bepn
boosted at this session and the last session the Wilson
administration will certainly have out of Office
on borrowed money
The great weakness Of the Wilson financial pro
gramme has been its indifference 70 extravaganza in
appropriations. The President has not worked as Mr.
Tart did, TO ratonaize the budget and cut OF waste
but has allowed Congress to spend with a free hand
al along the line While many Democrats were excit-
ing themselves over the "sacredness" OF The Panama
Canal tolls plank OF the Democratic national platform
nobody but Representative Fitzgerald, the poor lone
chairman. Of the House Committee on Appropriations
mas mad the least desire 70 dwell the sacredness
ot the platform plank which denounced "Remblican
extravaganza IN former Congresses and promised 4
return TO simplicity and economy" This Congress Il
going 20 spend much more than any other Congress
ever spent and the next Congress II tho Democrats
control ~ Will bea still more cheerful spender II "a
ths gross betrayal Of party pledges which threatens
70 wreck the Wilson fiscal programme and to send
me underwood tariff down 20 history as a deficit max
ing tariff. nun
That is true IN fact many Of the pianks in the
Baltimore platform have been made TO the ear
TO be broken to the hope In view the that Pres
iden Wilson himself has been such nagrant volator
q party pledges IL is not surprising that his friends
in Congress have followed the White House lead
They seem to be unable to ealize that days OF reckon
ing will come and that of them is less than hve
months removed