Rensselaer Semi-Weekly Republican, Volume 39, Number 89, Rensselaer, Jasper County, 12 July 1907 — Political Comment. [ARTICLE]

Political Comment.

Tale of the Fiscal TwelTemoatk Is a Pleasing One. Disregarding the, solstices, the equinoxes and the calendar, Uncle Sam has, for business purposes, set up a cycle of his own, and it closes on June 30. For him 1907 ended on that date, although the 1907 of the calendar will last for six months longer. The , divergence between the government’s official year and the year which figures in the ordinary industrial transactions of the people sometimes confutes, but it is the tale which the year tells that is important. And the tale which It tells will please the country. . / All the government’s g#eat financial transactions have been on a larger •cale than ever before. Its income and Its outgo leave all former figures behind. In his annual report to Congress last December the secretary of the treasury estimated that the receipts would exceed the expenditures $68,000,000 in the twelve months ending with June 30, 1907. He was $27,000,000 under the mark. That was the best guess which could have been made then. The man who made the guess had the figures for five months of the fiscal year in his hands at the time, and he knew, moreover, that the revenue laws would not be changed In the year. For the year the receipts exceed Its expenditures by $85,000,000. This compares with a surplus of $25,000,000 in 1906, a deficit of $23,-

000,000 In 1905, and a deficit of $41,000,000 In 1904, and a surplus of $54,000,000 In 1903. Tbe surplus for 1907 Is larger than for any year since 1889, when It was $88,000,000, except In 1902, when It was $91,000,000. Save In those two years we have to go back to the old flush days of 1881, 1882, 1883, 1884, 188 G, 1887 and 1888 to find any larger margins on the right side of the account than that which is rolled up in this year. The surpluses which used to keep the treasury chiefs, Folger, Greshan), McCullough, Manning and Fairchild awake of nights may soon come up to bother their successor Cortelyou. The government’s outlay is far greater than it was when those men were In charge of its finances, but the income in the Interval lias expanded beyond the dreams of any of them, and beyond any phopheeles made in their days. The present Gen, Grant once said that It was eusier to handle a surplus than n deficit, a piece of philosophy which Messrs. Carlisle and Gage appreciated when they were at the head of the treasury, and when enfllNs chains and the government’s creditors were drawing it out faster than its debtors were putting It In. The country’s total foreign trade was a little less than in 1906, which left all former figures far behind. The total for 1907 passes the $3,300,000,000 mark. In both exports and Imports all former records are beaten this year. The increase in the exports show us tbst we nre gaining a larger and larger share of the world's markets, despite the competition of our Europan rivals. In manufactures tbe competition is especially active, and there our gains in 1907 over 1906 are particularly striking. Rank clearings and railroad earnings are above all tbe figures of the past, and they are a fair Index of ottr industrial and commercial activities. The big Increase In our Imports shows tbst our producers are not Able to keep up with the borne demand,

and also show that our people have more mopey to spend than they ever did before, and that they are spending it*. Apparently railroad construction Is not quite so great as ft was a year ago, when all former records for several years were beaten. But not mRy are the roads doing more business than they were last year, but they are spending nmre money for improvements. - hear less about a crop shortage for the year than we did a few weeks ago, and there is a fa\r probability that last year’s big figures will be equaled by this year’s output of our farms and plantations. Not only are we doing more business than we did last year, but we are doing It under better conditions. The failures in business are fewer than they were a year ago. The figures compiled by Uncle Sam’s financial officers and to, those of the great private activities'tell a very interesting tale for the twelvemonth. s Will There Be a Real Campaign 'OBI The struggles of the Democratic factions to decide whether Mr. Bryan shall remain leader or be replaced by Mr. Hearst are interesting, but unimportant. If the national Democracy is to make a real campaign in 1908 it must get some principles upon which it is meet that a great party stand or fall. In 1896 the Democracy stood for an idea which, though foolish, was at least intelligible—the idea of scaling down debts by legislativeflat. ■*" Since then the Democracy has stood for nothing Intelligible. Its leaders have simply gone up and down the land shouting "Fire!” The logical candidate of such a party Is Eugene V. Debs. Tbe people will not respond repeatedly to mere alarms. Men cannot live

upon gin rlckeys and tabasco sauce. The American people are ready and anxious to welcome a real opposition to the Republican party. But it must be an opposition that opix>ses with a positive and constructive program—which proposes to do something for the country and do it better, and does not merely shriek that all that is doing is wrong; that everybody who is prospering is a scoundrel, and that the most successful nation on earth Is headed straight for perdition. If the Democracy can get a platform which sober-minded men can at least discuss it will be able to make a real campaign next year with any fairly c«l»able leader. If not, the people will have to put up again with the inconveniences of a one-party country.—Chicago Inter Ocean. It Is said that there are more than 50,000 persons on the New York City pay roll. This is oue of the things that make it difficult to change the administration when It is once intrenched. These beneficiaries constitute a powerful machine which Is invariably used to perpetuate tbe power of the party In coutrol of the city. Now if to these were added the tens of thousands employed in the street rallroads,the light plauts and other public utilities the task of overthrowing the party or clique once In office, which even now is very difficult, would then bo well night impossible. And Is exactly what the condition would be If municipal ownership were to prevail. The Nebraska prophet is very hopeful concerning Democratic prospects the next election, says a recent dispatch. He bases his hopes upon factional strife In the Republican party. If tbe Republicans are foolish enough to furnish him tbe premises, then they justify his conclusions. There Is absolutely notblng so deadly In an organisation aa factionalism and certainly there can be nothing else more foolish. .