The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-05-03
WHERE THE DEFICIENCY BEGAN.


WHERE The DEFICIENCY BEGAN.
Erect Of the Mckinley mn ON tho Ns-
tons Bisances.
Our republican friends are fond of
talking about the deficiency in treas
ury receipts Taey nnhesitatingly as
cribc all this 10 the passage Of the new
tariff bill. They say that IL Is not
yielding revenue enough. and they hold
out the idea that It will never afford
sufficient money 10 pay the expenses
OF the government
IL is an odd proof Of the rapidity
with which everybody forgcts former
conditions that comparatively few
now remember that after the last
presidential election practically every
body recognized the need of changing
the tariff laws, because the Mckinley
bill was not affording revenue enough.
As TO the republicans, they were so
hot for a revision OF the tariff that
they insisted that special session OF
congress should be called for the pur-
pose in March or April, 1893. They cx-
pressed the hope that the revision
might be carried out in such a way as
not to destroy American industries,
but, at all events, they wished the
work done at once. In February, 1898,
Secretary Foster prepared to issue
bonds, but was stopped by the presi-
dent, who preferred to transfer a
bankrupt treasury to his successor
Everybody understood that a revision
OF the laws was necessary in order
that the government should have the
means to meet the enlarged scale Of
expenditure. rendered necessary by the
legislation of the Fiftv-frst congress.
Some remarks submitted by Senator
German near the close Of the recent
session of congress. with reference to
the present deficiency of revenue, have
often been gleefully quoted by the re-
publicans- This speech Of Senator Cor
man was withheld for revision, and
has only recently appeared in the sup
plement to the Congressional Record.
An examination Of the full text of the
speech shows that it contains good
deal of matter which republican news
papers do not care TO quote. AS they
have made Senator German their own
witness by introducing what he had 10
say about the present administration,
we will undertake to give some Of the
results of a cross-cxamination.
In one of the tables submitted by
Senator German he shows that on the
3oth Of June, 1890. during the admin
istration of Mr.. Harrison, there was a
cash balance, excluding the gold re-
serve and availa BILE cash for current ex-
penses. of nearly 9o,0O0,000 This was
while the Mckinley bill was under con-
sideration, but before its passage.
From that date 20 the close of last
year the expenditures exceeded the re-
ceipts and available cash by S56, sl6.-
1l9.s3
Later on. abiding 10 the excess ofex-
pendtures, Mr.. German said:
Mr. President tina. was the case before the
present administration came iato power.
During tho last administration tho very ques-
ton was presented here. and stated the views
then as do now. that the reeclue laws up TO
tina. date had failed TO produce sufficient
amount OF money by si500Ob,0)) II was nearer
s-5O.oO)0oo When the present admins tration
came into power they were inter.ercd with by
the commercial conditions that no legislation
been intensified in the last two years The
revenues have fallen on ana the expenditures
have increased year by year"
Mr. German then proceeded to give
figures showing that the revenues for
the two fiscal years from July l, 1890.
to June 80, 1899, amounted to STAT, $780,
23l.55. and the expenditures for the
same period to S-9o. 377, SEXES, showing
q deficiency Of Si4, SCI. 295.73. All Of
this period was under the Harrison adj
and all but three months
of it under the Mckinley bill For the
fiscal year 1893 the figures of Senator
German show an excess of expendi-
lures over receipts of between four and
Eve millions. The fiscal year 1893 was
mostly under the administration of
Mr.. Harrison and wholly under the
Nc Kinley bill. Thus in these three
years the deficiency of revenue, as
compared with expenditures, amounted
TO nearly fifty million dollars.
The fiscal year 1894 was wholly under
the Mckinley bill. and showed de-
dcicncy of s70,O0000O in revenues as
with expenditures The last
six months Of 1894, forming part of the
present fiscal year, showed deficiency
IF some ST 100000. Two-thirds Of this
period was under the new tariff, and
one-third under the Mckinley bill.
d the total deficiency Of STAG. 500. "a. o3,
between July /. ls9o. and January l.
1895, only Sa7.o0o.0Jo occurred in the
asst six months of 1894. and only two
birds of this time was under tie new
Iariff bill Thus, Of the deficiency UP
% January |. 1895, the Mckinley bill
Produced Sla0.OcO,0oo.
In view Of these statements. what
mount OF wisdom is .hcrc in the
proposition to rceaact the Me-
Einley bill in order to produce suiii-
.ient revenue? = Louisville Courier
Journal.
Revenue From tho Income Tax