St. Landry clarion. (Opelousas, La.) 1890-1921, 1895-06-01
oPELoUsAs. LOUISIANA, SATURDAY, JUNE, 1895
WHERE THE DEFICIENCY BEGAN.
Erect OF the Mckinley BIZ ON the Ma
k#s#.. finT,s FINANCES. slAs.sA.s

l.
tIon's Finances.
Our republican friends are fond Of
talking about the deficiency In treas
ury receipts. They unhesitatingly as
cribA all this to the passage Of the new
tariff bill. They say that it is not
| yielding revenue enough, and they hold
out The idea that it will never afford
sufficient money to pay the expenses
of the government.
IT is an odd proof Of the rapidity
with which everybody forgets 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 revision Of the tariff that
they insisted that speeial session of
congress srld he He'd for the pur-
pose IN March or April, 1888. They ex-
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, 1888,
Secretary Foster prepared to issue
bonds, but was stopped by the presi-
dent, who preferred to transfer Q
bankrupt treasury to his successor.
Everybody understood that revision
Of the laws was necessary in order
that the government should have the
means to meet the enlarged scale OF
4 expenditure, rendered necessary by the
Legislation of the Fifty-frst, congress.
Some remarks submitted Ex-senator
Gprman 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-
pubIicans This speech of Senator Cor
man was withheld for revision, and
has only recently appeared in the sup
i 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 dc. not care to quote. AS they
/ have made Senator German their own
witness by introducing what he had to
say about the present administration,
we will undertake to give some OF the
results of a cross examination.
i IN one Of the tables submitted by
Senator German he shows that on the
/ 30th of June, 1890, during the admin
istration of Mr.. Harrison, there was q
leash balance, excluding the gold re
serve and available cash for current ex-
/ penses, of nearly SOC, 600, 600, This was
4 while the Mckinley bill was under con-
sideration, but before its passage.
From that date to the close of last
i year the expenditures exceeded the re.
eeipts and available cash by $56, ,sle,'
Il 1883.
Later on, alluding to the excess ofex
penditurcs, Mr.. German said:~
Mr. President that was the case before ths
fspresarls zzuinistration came into power
q During the last Administration tho very aues-
tion was presented here, and Istated the views
4 then as / do now. that the revenue laws up e
that date had failed to produce sufficient
amount OF money by $3.50, 00o,0 900 It was nearer
q $4,000 O0o When the present administration
Il came into power they were interfered with BY
| tho commercial conditions that no legislation
| OF congress was responsible for. They have
been intensified in the last two years Tht
revenues have fallen of and the expenditures
have increased year by year.
Mr.. German then proceeded to give
I figures showing that the revenues fol
the two fiscal years from July l, 1890
TO June 80. 1892, amounted to $747 800.
231.55, and the expenditures for tht
same period to S792, 377, ,527.28, showing
q deficiency Of s44,89y285.73. All o
this period was under the Harrison ad
ministration, and al1 but three month
of it under the Mckinley bill. For ths
fiscal year 1893 the figures of Senatol
German show an excess OF expendi
I lures over receipts of between four ant
Ave millions. The fiscal year 1858 wa
{ mostly under the administration q
Mr.. Harrison and wholly under tn
J, Mckinley bill Thus in these tEre,
years the deficiency Of revenue, a
compared with expendi ditures. amountet
TO nearly fifty million dollars
The fiscal year 1894 was wholly unde
the Mckinley bill, and showed q de
; ficiency Of $40, COZ, 900 in revenues o
: compared with expenditures The las
six months Of 1894, forming part OF th
|, present fiscal year, showed Q defcienc..
T of some S27, 600 coo. Two-thirds OF thi
period was under the new tariff, an
: one third under the Mckinley bill
9 OF the total deficiency of s146, 500, ,224. 0f
between July /, 1890, and January
g 1895, only sa7, 900, 900 occurred in th
last six months Of 1894, and only two
j, thirds Of this time was under the ney
= tariff bill Thus, Of the deficiency u
u TO January 1. 1895, the Mckinley bil
produced $12o, ,ooo, 600.
+ In view Of these statements, wha
9 amount of wisdom is there in th
q current proposition to reenact the No
e Kinley bill in order to produce suff
b cient revenue? - Louisville Courier
q Journal
Revenue From the Income Tax
Though the central principle OF tn
. income tax remains, the division OF tl'
Z supreme court invites further attach
and the law cannot be deemed settle
until positive affirmation or rejectio
Is obtained. BY the elimination /
: rents and the interest on state an
municipal bonds, the revenue to
9 i derived from the tax will be reduced
Z The nroceeds will however be yer