Jasper County Democrat, Volume 7, Number 23, Rensselaer, Jasper County, 10 September 1904 — THE TREASURY DEFICT. [ARTICLE]

THE TREASURY DEFICT.

Indiadapolia News: We now have the story of the Treasury’B operations for August, and it shows that the Government continues to live beyond the income. The deficit for the month amounts to $6,342,212. That for July was over $17,000,000, so that the total shortage for the year so far is $23,750,941. Comparing the figures for last month with those for August, 1903, it appears that reoeipts from customs have fallen off $2,704,000; from internal revenue $510,000, and from miscellaneous sources $1,735,000. The total loss in receipts is, therefore $4,949,000. .The total receipts W6re $44,903,390. The expenditures for the month were $51,242,603. We have lost about $5,000,000 in revenue and increased our expenditures by something over $9,000,000. Thero is, of course, nothing new to be said about this condition of affairs, for by this time the people are tolerably familiar with it, and no doubt appreciate its significance. Our only purpose is toemp’naize the fact that this inadequacy of revenues to meet expenses has come to pass under the operation of the Dingley tariff, which we have been taught to believe was the perfection of human legislation. Of course, the administration can do nothing to increase the revenues, for they are fixed and determined. But expenditure can be controlled somewhat. It seems to us that the time for retrenchment has come. The Government is spending too much of the peoples money. We all want and are willing to pay for an efficient and adequate army and navy. But $24,000,000 in a single month for these objects seems to be coming it pretty strong. From this point of view the disappearance of the deficit through an increase of revenue —the expenditures remaining the same —would not greatly helj). What is needed is the practice of a rather severe economy, and a realization on the part of those charged with the administration of the Government that Ihere is a limit —if not to the wonderful ability of the American people to pay taxes —at least one beyond which the Government should not go in imposing taxes and incurring obligations.