The people's journal. (Pickens, S.C.) 1891-1903, 1897-03-25
TARIFF MESSAGE OF PRESIDENT MCKINLEY
PLAIN, DIRECT AND POINTED.
Congress Is Asked to Increase the
Tariff fImmcdiatcIy-Thc Condition
Action.

upon its opening:
TO the Congress Of the Unitod States {:
Segrctting the necessity which has
required mo to call you together, feel
that your assembling in extraordinary
session Is Indispensable because Of the
condition in which We find the revenues
of tho government. 1t is conceded
that It's current expenditures arc
greater than its receipts and that. such
a condition has existed for now more
than three years. With unlimited
means at our command, VIC are pre-
sentlng the remarkable spectacle OF
increasing our public debt by bori ow-
ing money to meet the ordinary out.
lays incident upon even an economical
anu prudent administration OF the
government. An examination of the
subject discloses this fact in every
dctall and leads inevitably to the con
clusion that the condition Of the row
enue which allows it is un justitiablc
and should be corrected.
We find by the reports OF the Secre-
tary Of the Treasury that the revenues
ior the hscnl year, ending Juno 30,
lS32, from al sources were $425 ,S6S 2G).-
22,and the expcnd iturcs for all purposes
were $4l5 ,053 ,S0G 5G, leaving an excess
OF receipts over expenditures Of 50, ,0l4.
4o3.66. During that fiscal year $40, 30
40t9o wcrc paid upon the public debt,
which had been reduced since March
1, 1889, $3.50, ,O76, $50, and the annual
interest charge decreased $ll ,6S4 $40
to. The receipts Of the government
from all sources, during the fiscal year,
ending June &c. 1893, amounted to
$l6I, 1lG SCI, and its expenditures to
$lo0,31l ,SS7, showing an excess of re-
cciDts over expenditures Of ~, ,34l ,674.
Since that time the receipts of no
fiscal year, and with but few excep-
tions OF no month of any fiscal year,
have exceeded the expenditures. The
receipts Of the government from all
sources, during the fiscal year, ending
June 30 1891, were 1872, SOP ,i9S, and it's
expenditures $442, ,603. .75S, leaving Il
deficit, the first siuce the re sumption Of
specie payments. of G9,S03, 2GO. Not
withS tanding there was q decrease of
SIG, ,769, l2S in the ordinary expenses Of
the government as compared with the
previous fiscal year, it's income was
still not sufficient to provide for its
daily necessities, and the gold reserve
in the treasury for the redemption OF
grccnbacks was drawn upon to meet
them. But this did not suffice, and
the government then rcsorted TO loans
to rcplenish the reserve.
In February, 1894 100 600, 900 in bonds
were issued, AID in Novcm Der follow
ing second issue OF $4,000, coo was
deemed necessary. The sum Of Sll7,-
,795 was realized by the sale OF
these bonds, but the reserve was stead.
lily decreased until, on February s.
1893, third sale OF |G2 ,3l5, 400 in bonds
for $50, llG,2l4 was announced to Con-
gress.
The receipts Of tho government for
the fiscal year ending June 30, 1895,
wcru $500, ,3I3 203, aud the expenditures
$l3o, ,l26, showing deficit Of $42,-
sos, ,223
a further loan OF $500, 00O, 900 was ne
gotatcd by the government in Febru-
airy, 1886, the sale netting $ll l., 1855, PIG,
and swelling the aggregate Of bonds
issued within three years to $262 .3l3,-
400. For the fiscal year ending June 30,
from all sources amounted to $l09, 473,-
l0S, while its expenditures were
Sl3l ,6lS,G5t, or an excess Of cXpendi-
lures over receipts OF $25, 203, 2l5. In
other words, the total receipts for the
three fiscal years, ending Juno 20.
1896, were insufficient by $l37, ,Sll,720
to meet the total expenditures.
Nor has this condition since improv-
cd. For the first half Of the present
fiscal year, the receipts Of the govern
mcnt, exclusive Of postal revenues,
"cio plDi ,DOi oOo, ;tuu ltS expenditures
excl clusivc of postal service $l95 40, 900,
Or an excess OF expenditures over re-
ccipts Of S31 ,0O2, 1876. In January Of
this ycnr, the receipts exclusive OF
postal revenues were $24, ,3lG, 99l and
the expenditures exclusive Of postal
service $50, 269, $50, a deficit OF 80 952,-
395 for the month. In February Of
this year the receipts exclusive Of
postal revenues were $2l, ,l00,997 and
the expenditures. exclusive Of postal
service $2S. .T96, ,03G, q deficit Of 81, 395,-
059: or u total deficiency Of $lS6,0Gl,-
$50 for the three years and eight
months ending on March /, 1897. Not
only are we without surplus in the
treasury, but with an increase in the
public debt there has been cores
pOnding increase in the annual inter
est charge from $22 S93, ,SS3 in 1892 the
lowest OF any year since 1862, to $3l,-
:3S7, 201 in 1896, or an increase of $ll,-
,,493, iii.
1t may be urged that even if the
revenues OF the government had been
sulllclent to meet all its ordinary OK
penscs during thc past three wears, tho
gold reserve would still have been in.
sufficient to meet the demands upon II ,
and that bonds would necessarily have
been issued for It's rcplction. BE this
as it may, it is clearly manifest, with
out denying or affirming the correct
ness Of such conclusion, that the
debt would have hoen decreased in at
least the amount Of the deficiency, and
bust ness confidence immeasurablv
strengthened throughout the country
Congress should promptly correct tn Q
existing conditions. Ample revenues
must be supplied not only for tho ordi-
nary expenses Of the government, but
for prompt payment Of liberal pensions
and tho liquidation OF the principal
and interest Of tho public debt. In
raising revenues, duties should be 50
levied upon foreign products IS to pre-
serve the homo market, SO far as pos
siblc, to our own producers; to reviv G
and increase manufactures; to relieve
and encourage agriculture to increase
our domestic and foreign commerce:
to aid and develop mining and build.
ing, AID to render to labor in every