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Revenues Aud Expenditures

Revenues Aud Expenditures image
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The failing revenues of the government are becoming a cause of uneasiness at "Washington. The decrease of custonis receipts for the year ending November 1 is $28,280,764 as compared with last year; and. the decrease of internal revenue receipts is f16,912,863 ; raaking a total of $45,193,627. One of the resulta of this diminution of revenues is an increase of the public debt for October of $3,039,578, and the probability oí' a continued increase oí it for several months to come. The heyday of public debt reduction, which, while it lasted, was the chief glory of President Grant's admiuistration and the everlasting cry of the Eepublican party, is over, and a sterner era is before us. Tho autWirities at Washington do not like the looks of things; and well they may not, lor whether the Eepublicun party is really responsible, ar not, for the dismal showing that will be made to the next Congress, it certainly will be held to be. Tho last Cougress was unusually extravagant in its appropriations - not liaving the sagacity to foreseethe revulsión that took place a few inonths er lts adjournmoiit ; and so, while the revenues have decreased $43,000,000, the :act is aggravftted by an increase of the expenditures of $17,000,000. We begin to hear a good deal of talk at Washington about retrenchment and econotny, and the necessity oí new taxes to niakeup the revenue deficiency. As to retrenchment and econoruy, they ought to have been practiced long ago ; and as to new taxes, the imposition of thein will very likely increase the popular discontent. The Republican is not an ecocouiical and retrenching party ; it does not thrivo on frugality. It is addicted to extravagance; it is fond of display and it flourishes most in the rnidst of fictitious affiuence. It needs a great deal of money, and it is doubtful if it will be able to maintain itself on attenuated revenues. The day of it8rioting is ended, and now it is to be seen whether it possesses the very rare qualities of a successfnl hard timen party or not."


Old News
Michigan Argus