The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-03-20
URGED TO ACT.
President Mckinley Makes an APP
peal to Congress.
Need OF a Tariff Law to Increase the
Country's Revenues Declared TO
lie the imperative De-
mnnd of the Hour.


dent Monday sent the following mes
sage to congress:
ITO the Congress cf the United States:
Regretting the necessity which has re-
quired me TO call you together, feel that
your assembling In extraordinary session
IL indispensable because OF the condition
In which We find the revenues OF the gov
eminent. IL Is conceded that its current
expenditures are greater than its receipts.
and that such condition has existed for
now more than three years. With unllmlt-
ed means at our command, we are pre-
senting the remarkable spectacle OF in
creasing our public debt by borrowing
money to meet the ordinary outiays Incl
dent upon even an economical and pru-
dent administration OF the government
An examination OF the subject discloses
this fact In every detail and leads in
ovitably TO the conclusion that the con-
dition or the revenue which allows Il Is
unJustinable and should be corrected.
I'VE find by the reports OF the secretary
OF the treasury that the revenues for the
fiscal year ending June 80, 1892. from all
sources, were $425, SOS. 260.22. and the ex-
penditures for all purposes were $i15 $685.
SO6b6. leaving an excess OF receipts over ex-
penditures Of s9.9l4. 1896 During that fiscal
year NO,5 4G7.0S were paid upon the public
debt, which had been reduced since March
]. 1889. 259.076.S90, and the annual interest
charge decreased 81, ga 7660 The receipts
OF the government from all sources dur
ing the fiscal year ending June 80. 1898,
amounted 10 si61. ZIG. 561 "a, and its expend-
itures to s469, S7i. S5765. showing an excess Of
receipts over expenditures OF 81. .67i.29.
Since that time the receipts Of no fiscal
year, and with but few exceptions OF no
month OF any fiscal year, have exceeded
the expenditures. The receipts OF the gov
eminent. from all sources. during the fis-
cal year ending June 80. 1894. were s372,-
500. %, and Its expenditures y442, Coz, 1852
III. "A g.
sumption ofspecie payments. OF SOS, 500, 24O. So.
Notwithstanding there was a decrease OF
N6709.l SIS In the ordinary expenses OF the
government. as compared with the previ-
Gus fiscal year. It's income was still not
suficient to provide for It's daily necessi-
ties, and the gold reserve In the treasury for
the redemption OF greenbacks was drawn
upon 10 meet them. But this did not suffice,
ana the government then resorted to loans
10 replenish the reserve
I'm February, 1894. 350000.000 I'm bonds
were issued, and In November following a
second issue OF $50. 600 900 was deemed neces-
sary. The sum OF sil7, .795 was realized
by the sale or these bonds but the reserve
was steadily decreased until, on February
s. 1885, third sale OF SCI. 3l5. 400 In bonds for
y65.ll6.2H was announced to congress-
The YearIy Deficits.
1.-THE receipts OF the government for the
fiscal year ending June 30. 1896. were $780,
373,203.30. and the expenditures S433 49,
426.4S, showing a deficit OF t42. sos, 1913. A
further loan OF $l0O. 000. 900 was negotiated
by the government in February 1896. the
sale netting Sl11.lG6,2i0. and swelling tho
aggregate OF bonds issued within three
years 10 S262. 400. For tho fiscal year
ending June 80. 1896. the revenues OF the
government from all sources amounted to
S40a, 476. 40S.7S. while its expenditures were
ASf.67S6N.tS. or an excess OF expenditures
over receipts OF s2o.2 20. In other
words. the total receipts for the three
fiscal years ending June 30. 1896. were In
sufficient by Sl37.Sll 1896 TO meet the total
expenditures.
Nor has this condition since improved
For the first half OF the present fiscal year
the receipts Of the government. exclusive
OF postal revenues, were $l57. 507. 603.76. and
its expenditures. exclusive OF postal serv-
fee, $l95. fl0 %, or an excess or expendi-
lures over receipts OF s37, 500 G.i6. In jan
uary OF this year the receipts exclusive OF
postal revenues were S2f. 3l6. 09405 and the
expenditures exclusive of postal service
$sO.2G9 1929. deficit OF ;5.952395 "a for the
month
The Total Deficit.
In February OF this year the receipts. ex-
elusive OF postal revenue, were 3A. 40O.-
997.3S. and expenditures exclusive OF pos
tai service SOS. 796. 056G6 a deficit OF $685.
0592S or a total deficiency OF $iSG, O61. $50 a.
for the three years and eight months end
ing March I, 1897. Not only are we with
out a surplus in the treasury, but with an
increase In the public debt there has been
corresponding Increase In the annual i'm
terest charge from S22 500. SS32 20 In 1892. the
lowest OF any year since 1862 to S34. $751;
2S7.G0 In 1885, or an Increase or 81, i93. 414 40
'It may be urged that even IL the rev.
enues OF the government had boon SUM-
Client TO meet all Its ordinary expenses dur
Ing the past three years the gold reserve
would stfl have been insufficient to meet
the demands upon Il, and that bonds would
necessarily have been issued for its reple-
tion. BE this as II may. II Is clearly mani
fest, without denying or affirming the
correctness OF such . conclusion. that the
debt would have been decreased In al least
the amount OF the deficiency, and business
confidence UNNECESSARILY strengthened
throughout the country.
should Tie Promptly Corrected.
congress should promptly correct the
existing condition. Ample revenues must
DO supplied not only for the ordinary ex-
penses OF the government, but for the
prompt payment OF liberal pensions and
the liquidation OF the principal and inter-
est OF the publfS debt. In raising rev.
enues duties should be so levied upon for
eign products as 10 preserve the home mar
ket so far as possible. 10 our own pro-
ducers; TO revive and Increase manufac-
lures 10 relieve and encourage agricui-
ture. 60 increase our domestic and for
eign commerce.: 10 aid and develop mining
and building. and 20 render 20 labor in
every field OF useful occupation the lib
ernl wages and adequate rewards 10 which
skill and industry are Justly entitled The
necessity OF the passage Of a tarin law
which shall provide ample revenue need
not he further urged. The imperative de-
mand Of the hour is the prompt enactment
OF such a measure, and to this object
earnestly recommend that congress shall
make every eudeavOr Before other busi-
ness IS transacted let rs first provide suf-
fcient revenue 10 faithfully administer the
government without the contracting OF
further debt. or the continued disturbance
of our finances. (Sign0d)
WILLIAM MKINLEY."
Executive Mansion. March IS 1897
One Taken. the other Left.