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Show MORE RE.VENUE NEEDED. The treasury deficit is ruwiuj from month to month by reason of the heavy falling off in imports ami the lower lariff duties, but us the go ern inert t ha a pel balance of nearly $41,0004100 ami many millions to in ere'lit outride of Washington, it will not he necessary to issue bonds for some time, probably not until after the next jwesident ial election, elec-tion, if congress suceeoils in hoMiii- thr appropriations down to a reasonable limit. Nevertheless the government will be compelled to issue bonds at no- very distant 'lale, unless monev for running expenses can be raised in some oxhet manner. As the Democrats would not dare I" raise, the income tx rat.' m the eyfe of the campaign, some other means of replenishing re-plenishing the treasury must be fouul. The easiest way would be to restore the tariff on sugar, which formerly netted th government something like $b'0.000,00fl annually. The party in power might even go so far as to give wool the protection the Democratic leaders lead-ers advocated when the Payne A Id rich bill was under discussion.. This would not be a violation of the cardinal principle prin-ciple of Democracy, for since the time of Samuel .1. Tilden the party has advocated ad-vocated a "tariff for revenue only." Protection is incidental under .such an arrangement, but it; aids the producers and manufacturers to some extent. Not being in Bthe confidence of the ad--ministration, we do not know what plans aro "being made to dig Uncle Ham out of the financial pit into which he has been plunged, but we submit that the tariff is the best, if not the only, nicaus that can be effectually employed in turning some portion of the golden stream now flowing into the United States in the direction of the national treasury, which is certain to be drained to the last cent unless something in done to prevent such a catastrophe. The present financial situation in this country is truly remarkable. With very few exceptions, all the industries are flourishing as never before, the banks have more money than they can handle, han-dle, and France and Great Britain have just succeeded in making arrangements for a loan of half a billion dollars. At the same time the treasury of the United States is being depleted day by day, and there is no present prospect of balancing the expenditures with the receipts. Several reasons are given for this unhappy state of affairs, the principal prin-cipal ones being the war in'Kurope and the Underwood-Simmons law reducing tariff rates and enlarging the free list. The question will occupy a large share of the attention of congress this whiter whi-ter and will be a prominent factor in the presidential campaign, the deficit increasing in size while the discussion continues. |
