The Times of Tuesday gives some very interesting figures as
to the •finances of the United States. The mighty work of getting. rid of the surplus," to which the Republican Party has devoted itself for the last three years, has been accom- plished, and unless President Harrison can manage to effect economies under certain heads, there will actually be a deficit next year. The heroic scale on which the money has been "chucked away," may be gathered from the fact that the charge for pensions during the year ending June 30th was close on £25,000,000—an increase since the previous year of some three millions sterling—and more than a third of the total annual disbursements of the nation. The figures in regard to the Debt must, however, be admitted to be very satisfactory. There is not much more than £120,000,000 of interest-bearing debt left. It is impossible not to feel a keen sense of regret at the splendid opportunity missed by the United States. Had her old policy of strictly limiting ex- penditure been maintained, and had she not fallen into the hands of a gang of Protectionist manufacturers, America might have shown the world an example of what a nation could do when virtually delivered from the burden of taxation.
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