The Blackfoot optimist. [volume] (Blackfoot, Idaho) 1907-1918, 1916-09-28
REPUBLICAN THRIFT IS
SQuANDERED BY WILSON
Built Panama Canal Out of Cur
rent Revenues, Periodically
boarding Bonds in Treasury
Which Democrats Fitch
to Hide a Deficit.
CARNIVAL OF DEBAUCHERY
IN PUBLIC EXPENDITURE

Senator Penrose Believes the Looted
Condition Of the Treasury Will
Necessitate the Withholding OF
Contracts for Battleshlps and De-
lay the Whole Scheme Of Prepared
ness Mation'a Money FILTERED
Away to Finance Hare.erained ana
III Advised Projects.
William r. Wilcox, Chairman Of
the Republican National Committee,
has received from Senator Penrose
brief but positive summing up Of the
extravagances Of the Wilson Admins
tration 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
appropriations it will be dumfounded.
Already, it has been shown that over
a billion, seven or eight hundred mil
lion dollars have been appropriated
more money than was ever apprOprf-
ated in any one year in the history
of the American government. The to-
tai will reach nearly two billion dol
lars before the end Of this carnival
Of debauchery in public expenditures
is reached, because no account has
been taken Of the twenty-five millions
for the Danish islands, the thirty mil
lions which the government will prob
ably have to refund as result of
the five per cent rebate allowed on
importations brought across the seas
in American bottoms, and other mat
tiers which are likely to come up.
at is only too evident that this bill
which is expected to bring in some
two hundred million dollars will alb
sClutely fail to meet even the require
not urgent projects authorized by the
present Congress.
at 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 a
proceeding as 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
inefficiency, to resort to 1T.
"To defray the expenses of nitrate
I - e,1,; ccI nd
many other needless projects by the
| issuing 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 Repub-
lican party.
"Only about $13OOOO,OOO 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 doc
trine that these bonds which repre-
sent the thrift of preceding years
shall be issued for these questionable
projects is, to my mind, prepOsterous
In fact, 1t was expressly provided In
the Spooner Act that Panama Cana
bonds should not be issued for any
other purpose than that of the con
struction of the Canal, and the in
genious theory that they can be Is
sued now to repay the treasury and
that then the money can be squan
dered by the party in power to finance
doubtful projects and to make good 1
deficit will not alter the fact tina