The Twin City star. [volume] (Minneapolis, Minn.) 1910-19??, 1916-10-14
Built Panama Canal Out Of Cur
rent Revenues, Periodically
Hoarding Bonds In Treasury
Which Democrats Fitch
to Hide a Deficit.
CARNIVAL OF DEBAUcHERY
I'M PUBLIC EXPENDITURE
SsnaAos Psnressa Believes the Looted
Condition Of the Treasury Will
Nsesssitats the Wikhholdins Of
contractso Fer 6attlsships and Dc.
lay the Whole sehsms Of Prepared.
nsss-Nation's Money Frittsrsd Away
70 Finance Hars Drained .aad III Adj
vlssd Projects.

william r. Wilcox, chairman Of the
Republican National committee. has re
ceived from Senator Penrose a brief
but positive summing up of the ex-
travagances Of the Wilson administra-
ton during the session Of congress JUST
about to close. The senator says:
when the country realizes what this
congress has done in the way Of ap-
preparations 1t win be dumfounded.
Already It has been shown that over
q billion, seven or eight hundred mil
lion dollars have been appropriated
more money than was ever appropri-
ated in any one year in the history of
the American government The total
win reach nearly $2.OOO.OOO 600 before
the end Of this carnival Of debauch-
cry In public expenditures 10 reached.
because no account has been taken OF
ths 90 100000 FOR the Danish islands,
the $4,000. 900 which the government
VIII probably have to refund as re
suit Of the per cent rebate allowed
on importations brought across the seas
In American bottoms, and other mat.
tiers which are likely to come up.
1T Is only too evident that this bill
which is expected to bring In some
$500, 100000 will absolutely fall to
meet even the requirements for the
III advised and certainly not urgent
projects authorized by the present con-
gress.
ut Is now claimed that these, pro
jects are to be financed by the issu-
ance Of Panama canal bonds. The
American people will regard such
proceeding az a very queer one be-
cause the issuing of bonds by the
Cleveland administration largely help
ed to bring about the downfall Of the
Democratic party in 1896. A bond
issue has ever since been viewed with
adherence by the Democracy; now,
we find the party leaders compelled
by reason of their extravaganza and
inefaciency, to resort to 1t.
ITO defray the expenses Of nitrate
plant and Of shipping board and
many other needless projects by the is
suing of Panama bonds will be In the
last analysis equivalent to paying for
them by bond issues. These bonds are
lying In. the treasury unissued as the
result Of the thrift and economy and
wise administration OF the Republican
party.
"Only about $13o.OOo.O0o Of bonds
were put out in the construction of the
Panama canal The balance Of the
cost Of that stupendous undertaking
was paid out Of current revenues; and
now, to advance the novel doctrine
that these bonds which represent the
thrift Of preceding years shall be Ia.
sued for these questionable projects Is.
to my mind, preposterous. In fact II
was expressly provided In the Spoon
er act that Panama canal bonds should
not be issued for any other purpose
than that of the construction Of the
canal. and the ingenious theory that
they can be issued now to repay the
treasury and that then the money can
be squandered by the party In power
to finance. doubtful projects and to
make good deficit will not alter the
fact that such a deficit exists.
mo amount Of reasoning on the part
Of the chairman Of the committee on
finance will alter the fact that outside
Of preparedness there has been at least
$500 0OO. 900 of wastefui appropriations
and expenditures by the present CON
gress. That condition OF the treasury
will absolutely neeessitnte the with
holding Of contracts for battleshipS
ind delay the whole scheme Of pre-
paredness.
THE figures Of the secretary Of thu
treasury may be juggled as they may
but when the secretary Is Up againsi
the brute fact Of not ha wing money to
pay for these projects be will then 6nd
that figures viii not make assurplus
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