THE 



POPULAR SCIENCE 

 MONTHLY. 



JUNE, 1888. 

 THE SURPLUS REVENUE. 



By EDW.IED ATKINSON. 



IS the United States now in receipt of a revenue derived from 

 taxation in excess of a reasonable expenditure for conducting 

 the functions of the Government and meeting the current an- 

 nual expenses of the nation, the pensions and other like obliga- 

 tions already incurred ? 



To this question a positive answer may be given. Yes. The 

 surplus revenue of the United States, above the necessary ex- 

 penses of the Government economically administered, is now at 

 least $100,000,000 a year ; and unless Congress at its present ses- 

 sion takes some action for the reduction of the revenue, it may 

 exceed ere long $150,000,000 each year. 



On the other hand, it may be asked. Would a private cor- 

 poration consider itself in possession of a surplus revenue from 

 its business, which it would be at liberty to deal with at its own 

 pleasure, if it owed a large sum of money on demand and a still 

 larger sum of money subject to be paid on demand within a 

 .short period of time ? No sound business man could be found 

 who would affirm that under such conditions a private corpora- 

 tion could make any more suitable use of the revenue received 

 in excess of its necessary expenditure than to apply it to the 

 payment of its debt due on demand, and to prepare the way for 

 making payment of the debt soon to become due at a date fixed. 



If this reasoning be applied to the present condition of the 

 United States, it will appear that the Government is not at the 

 present time in the possession of a surplus revenue in any true 

 sense. It owes on demand that sum of money which is repre- 

 sented by the evidences of debt, known as legal-tender notes, and 

 commonly called greenbacks. 



VOL. XXXIII. — 10 



