Pike County press. (Milford, Pa.) 1895-1925, 1897-03-19
m'kINLEYs FIRST MESSAGE
The President Urges Congress to Pass
Revenue TarIn Measure

W KiNLE 7 > 7 ihO Me SOROE
The President Urges Congress to Pass
Revenue TarIn Measure.
wAsnNGroN. March 16. The first mes
sago of President Mckinley has been sub
mit;ed 10 congress in extraordinary SOS
sion assembled The document reoom-
mends an immediate adoption Of tariff
measure which will provide sufficient reve.
nue., and no reference Is made to Cuban
or other foreign questions The following
is the full text Of the message
To the Congress Of the United States;
Regrettng the necessity which has required
me to call you together, ! feel that your as
sembling in extraordinary session is indispen
sable because Of the condition in which we
find the revenues OF the government II is con
ceded that its current expenditures are great
er than its receipts and That such a condition
has existed for now more than three years
With unlimited means at our command we are
irespr ting the remarkable spectacle Of increas
ing our public debt by borrowing money 10
meet the ordinary outlays incident upon even
an economical and prudent administration Of
the government An examination of the sub
ieet discloses this fact in every detail and
leads inevitably 70 the conclusion that the
condition of the revenue which allows it Is un
iustifable and should be corrected
We hnd by tho reports Of the secretary o.
the treasury ihNt tlt revenue tOf EuH useai
year ending June 80 1892, from all sources
were ti25 s6S eco % and the expenditures for
nil purposes were Hl5,055 e08 SO, leaving an ex
cess Of receipts over expenditures Of 80 eli,-
i55 50. During that fiscal year t4O,570, iG7 Bs
were paid upon the public debt, which had
been reduced since March l. 1889 $3.50 0,Oi6 500
and the annual interest charge decreased Sill,
6s4. $50 The receipts Of the government
from MI sources during the fiscal year ending
June 30 1888 amounted to SiGl 7l6 56l "a and
It's expenditures to Sl59 374 sSi. .65. showing an
excess of receipts over expenditures Of $284l,
G7l %.
Expenditures Exceeding the Receipts.
Since that time the receipts Of no fiscal year
and with but few exceptions Of no month Of
any fiscal year, have exceeded the expendi
lures
The receipts OF the government from all
sources during the fiscal year ending June
30, 1894 wero 1872, s02, i9s. % and its expend-
lures Sil2, sos, ,75S ST. leaving deficit, the first
since the resumption of specie payments, of
800 s03 200 80 Notwithstanding there was de.
crease of Sl6iG9, l2S 7s in the ordinary expenses
Of the government as compared with the pre-
vious fiscal year its income was still not suiii.
cieut to provide for its daily necessities and
the gold reserve in the treasury for the re-
demption of greenbacks was drawn upon to
meet them But this did not suffice, and the
government then resorted to loans to replen-
sh the reserve.
In February, 1894 s5O,OOO.OOO in bonds were
issued, and in November following a second
issue Of S50,C0000 was deemed necessary. The
sum Of Sit7 i7l ,705 was realized by the sale of
these bonds, but the reserve was steadily de-
creased until on Feb g. lsg5, a third sale of
s62 Bis 400 in bonds for S65 Il 49, pa was an
nouncpd to congress,
The receipts of the government for the fiscal
year ending June 30, lSa5 were $500 37B. 2u8 30
and the expenditures S433 l7s, l2d. 4s. showing A
deficit of S42. SO5 223l 49,
Tire 500. 600. 900 Loan.
A further loan of 500 900 was negotiated
by the government In Fobruury, 1895 the sale
netting Sil lG6, 2i6, and swelling the aggregate
Of bonds issued within three years to S262,8l5,
400 For the hs al year ending June 80. 1896,
the revenues Of the government from all
sources amounted to S400. i75 iOS 49, while its
expenditures were $4B4,67s d5i iS OF an excess
Of expenditures over receipts Of S25. 2U3 2l5 10
In other words, the total receipts for the three
fiscal years ending June 3O 1870 were ipsuffi
cent by Sl37 81 ~ i6 to meet the total ex
penditurcs.
Nor has this condition since improved. For
the first haf Of the present fiscal year the re-
ceipts of the government exclusive Of postal
revenues were Sl51 507 ,G08 20 and its expendi
lures exclusive of postal service sla5. 4lO 600 %
or an excess Of expenditures over receipts Of
81, ,a02, 40 In January of this year the re
eeipts exclusive of postal revenues were S24,
alG0F4 % and the expenditures exclusive Of
postal service $40 200 $50 20, a deficit Of S5952
1862 for the month. In February of this year
the receipts exclusive of postal revenues were
S24 40O, gF BS expenditures exclusive of post
al service s2s 7HG O56 6G deficit of s4 805 059 28
or total deficiency of Sl80, 06l, $50 "A for the
threc years and eight mouths ending March
lS08
Not only are we without surplus in the
treasury. hut with an increase in the public
debt there has been corresponding increase
IN the annual interest charge from S22 s03
sSs ~ in l82 the lowest Of any year since 1862
to 50. .ssi ,l8 90 IN 1888 OF an increase Vt Sll
1913 4l4 ~
Prompt Increase In Tariff Urged.
1t may be urged that even if the revenues Of
the governments had been sufficient to meet
all its ordinary expenses during the past three
years the gold reserve would still have been
insufficient to meet the demands upon IL and
that bonds would necessarily have been issued
for its reDletion. Be this as II may. it Is clear
ly manifest, without denying OF affirming the
correctness of such a conclusion that the debt
would have been decreased in at least the
amount OF the deficiency and business conf
dence immeasurably strengthened throughout
the country
Congress should promptly correct the exist
ing condition. Ample revenues must be sup
piled. not only for the ordinary expenses Of
the government but tor the prompt payment
Of liberal pensions and the liquidation of the
principal and interest Of the public debt In
raising revenues duties should be SO levied up.
on foreign products as to preserve the home
market so far as possible 10 our own produc-
ers to revive and increase manufactures. to
relieve and encourage agriculture. TO increase
our domestic and foreign commerce, 10 aid
and develop mining and buildings and to rem
der TO labor in every field Of useful occupation
the liberal wages and adequate rewards to
which skin and industry are Justly entitled
The necessity Of the passage Of q tariff law
which shall provide ample revenue need not
be further urged The Imperative demand ~
the hour is the prompt enactment OF such d
measure, aud to this object { earnestly recon
mend that congress shall make every endeav
OF Before other business is transacted let ~
first provide sufficient revenue 10 faithfully
administer the government without the 500
tracing Of further debt 81 ghe continued iis
turbance Of our finances
WILLIAM McKtStET
/