Economy The Watchword

The democratie party went before the people in the last general election, pledged to a policy of reform in existing fiscal arrangements vvhereby taxation would be reduced to the needs of the government economically administered. These pledges should be faithfully carried out in letter and spirit. In assuming leaddership in the nation, the democrats not only find themselves confronted with an unusual financial policy which they have already partially corrected, and an unusual economie system employed chiefly for the support of an industrial system instead of for the legitímate needs of the state, which they are now making strenuous erïorts to correct, but a system of extravagance in public expenditures absolutely appalling. Of course, expenditures must increase as ■ population grows, but ■there is no justification in this plea for the enormously increasing governmental appropriations from year to year. In 1870, with a population in round numbers of thirty-eight and a half millons, the receipts of the government were three hundred and sixty-four millions. At this time began the accumulation of that surplus which for a long time defied exhaustion or expenditure, but which the Harrison administration has the honor of finally eliminating from the financial problems of the nation. During the next decade the lation increased niiíeteen per cent., the revenues twenty, and the expenditures fifty-eight per cent. No such increase of expenditures can be satisfactorily accounted for on the ground of legitímate growth of governmental business consequent upon the increase of population and development of the country. Kor the past three years the expenses have increase thirty-six per cent. and the revenues have fallen off three. Thus while the wealth of the country has been expanding bevond anything ever before known in history and the resulting revenues have been such as to astonish the world of finance, the expenses have more than kept pace with the growth of revenue. The fruition of this prodigal policy became apparentat the beginning of the present fiscal year, when an unforseen commercial depression causing diminished cunsumption of taxablecommodities resulted in such a shrinkage of receipts as to cause the treasury to be con fronted with a deficiency. Bat while there has been a large falling off in receipts, the expenditures have conünued to mount up. During the lïrst quarter of the fiscal year the expenses were actuayy three tnillions greater than during the corresponding period of last ear, and lïoni July to January ist the receipts were thirty-seven millions less than the expenditures. it is time, therefore, to cali a halt. Extravagant appropriations must cease and the government must observe reasonable economy in its expenses. AVe are trotting too fast a clip and have arrived at a stage of the game when we must mend our ways. The democratie party stands pledged to an econom ical administration oí the government and it is jast as important that I tliis pledge be religiously observec as that the tariff be reformed Would that we had a few more watch-dogs of the treasury like Judge Holman. All honor to him anc others like him who have the cour age in the midst of extravagance "to stand up for reasonabie economy.