Connecticut western news., 1897-03-18


 cess of receipts over expenditures of so,ell, 453.66 During that fiscal year S40,510, 467. .es were paid upon the public debt, which had been reduced since March l. 1889, s259 076, Se0, and the annual interest charge decreased s1l,- 684, ,57660. The receipts of the government from all sources during the fiscal year ending June 80, 1885, amounted to S46l, 7id, 55l .qi and its expenditures to s459, ,274, ,SS7. .65 showing an excess of receipts over expenditures of g, ,94l,- 64.29.
 Expenditures Exceeding the Receipts.
 Since that time the receipts of no fiscal year. and with but few exceptions of month of any fiscal year, have exceeded the expendi- lures.
 The receipts of the government from all sources during the fiscal year ending June 80, 1874. were S372, S02, .29 and its expendi- lures S4i2 6O5, 1oS.S1, leaving deficit the first since the resumption of specie payments. of s69. .S03, 260 58. Notwithstanding there was a de- crease of Sl6, 769 l2S1S in the ordinary expenses of the government as compared with the pre- vious fiscal year, its income was still not srffi- cient to provide for its daily necessities. and the gold reserve in the treasury for the demption of greenbacks was drawn upon to meet them. But this did not suffice and the government then resorted to loans to replen- ish the reserve
 In February, 1894. $50, 900 in bonds were issued, and in November following second issue of $50, coo, 600 was deemed necessary. The sum of sll7 IT, ,795 was realized by the sale of these bonds, but the reserve was steadily de- creased until on Feb. s, 1895, third sale of s62, 3l5, 400 in bonds for $65, ll6, PA was an. nounced to congress.
 The receipts of tho government for the fiscal year ending June 50. 1895. were s3e0, ,373, 2o3 30 and the expenditures s4SS. ITS, 42d.4s, showing deficit of s42, so5. .223.ls.
 The sIoo. 900. 900 Loan.
 A further loan of slOO. .0OJ 600 was negotiated by the government in February, Is91, the sale netting slll, lG6, 24G and swelling the aggregate of bonds issued within three years to $262, 9l5,- 4O0 For the fs gal year ending June 30, ls96 the revenues of the government from all sources amounted to s409, 475, 40S 7s, while its expenditures were s434, CTS, 654. 4S. an excess of expenditures over receipts of s25, ,203 245. 70 In other words, the total receipts for the three fiscal years ending June 90, 1896, were insuii- cient by sl37, ,Sll, 46 to meet the total penditures.
 Nor has this condition since improved. For the first half of the present fiscal year the re- ceipts of the government exclusive of postal revenues were sl57, 507, 603.7o and its expendi- lures exclusive of postal service sl95, 4l0 0o0 P or an excess of expenditures over receipts Of sS7. e02, 896. .46. In January of this year the ceipts exclusive of postal revenues were S24 . 9l6 994.05 and the expenditures exclusive of postal service si0 260 3s9. 29, deficit of s. g52 S952I for the month. In February of this year the receipts exclusive of postal revenues were s2i, 500, 9g7 s. exp nditures exclusive of post- al service SS, 79G, 056 65; deficit of s 395 059 2 or total deficiency of $l88, 06l, ,hS0 4 for the three years and eight months ending March |, 1896.
 Not only are we without a surplus in the treasury, but with an increase in the public debt there has been a corresponding increase in the annual interest charge from s22, S93,. SS3 20 in lS92 the lowest of any year since lSi2, to s34, ,3S7, 2s7 60 in lS96, increase of sll, 493, AL. 40
 Prompt Increase In Tariff Urged.
 It may be urged that even if the revenues of the government 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 it and that bonds would necessarily have been issued for its repleton. Be this as it may, it is clear ly manifest, without denying affirming the correctness of such a conclusion, that the debt would have been decreased in nt 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 for 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 to preserve the home market 70 far as possible to our own produc- CTS; to revive and increase manufactories: to relieve and encourage agriculture; to increase our domestic and foreign commerce.; to 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 skill and industry are justly entitled. The necessity of the passage of a tariff law which shall provide ample revenue need not be further urged. The imperative demand of the hour is the prompt enactment of such 8 measure, and to this object I earnestly recom- mend that congress shall make every endeav- or. Before other business is transacted let rs first provide sufficient revenue to faithfully administer the government without the con. tractiug of further debt or the continued dis turbsnce of our finances.
 WILLIAM MCKINNEY.