The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-03-15
THE MESSAGE.
President nj kinley Submits His
First Message
On the State of the Country, to
Congress Today.
WANTS MORE MONEY.
Holds to the Light the Policy
of His Predecessor
Which Necessitated Borrowing
Money for Current EX-
penSeS.
WANTS MORE MONEY.


today sent the following message to
congress-:
To the Congress of the United States
Regretting the necessity which has
required me to call you together, feel
that your assembling in extraordinary
session is Indispensable because of the
condition in which we find the revenues
Of the government. It is conceded that
it's current expenditures are greater
than its receipts, and that such a con-
dition has existed for now more than
three years. With unlimited means at
your command, We are presenting the
renlarka ble spectacle of increasing our
public debt by borrowing money to meet
the ordinary outlays incident upon even
an economical and prudent administra-
ton of the government. An eXamina-
ton of the subject discloses this fact in
every detail and leads inevitably to the
conclusion that the condition of the rev.
enue which allows it is unjustifiable and
should be corrected
We find by the reports of the secreta-
ry of the treasury that the revenues for
the fiscal year ending June 30, 1892,
from all sources were 1925, ,S6S, ,260.22 and
the expenditures for all purposes were
$415, 953, SOC. Sc, leaving an excess of re-
ceipts over expenditures of S9,914, ,453. Sc.
During that fiscal year SAC. 1878
were paid upon the public debt, which
has been reduced since March 1, 1889,
$259,076,S90 and the annual interest
charge decreased $11, ,684, 60.
The receipts OF the government from
all sources during the fiscal year ending
June go 1893, amounted to $461, 716, 561 "a
and its expenditures to $459, ,374, ,887. .65,
showing an excess of receipts over ex-
penditures of 2,341 674.29. Since that
time the receipts of no fiscal year and
with but few exceptions of no month of
any fiscal year, have exceeded th@ ex-
penditureS.
The receipts of the government from
all sources during the fiscal year end
ing June 80, 1894, were $372, ,S92, ,49S. 29,
and its expenditures $442. sos. 1887, leav-
| ing deficit, the first since the resump-
| tion of specie payment of $6S, ,803, ,26O. 5S,
notwithstanding there was a decrease of
| SIG, 769, ,12S. 7S IN the ordinary expenses of
the government as compared with the
| previous fiscal year. its income was still
| not sufficient to provide for it's daily
necessities and the gold reserve in the
| treasury for the redemption of green
backs, was drawn upon to meet them.
| But this did not suffice, and the govern
ment then reSorted to loans to repleniSh
| the reserve.
In February, 1894. $50, 600, 900 in bonds
| were issued, and in November follow
| ing, a second issue of $50, 900, 900 was
deemed necessary. The sum of $17, H.
| 795 was realized by the sale of these
bonds, but the reserve was steadily de-
| creased until On Feb. g. 1895. a third sale
of $62, ,315. 400 in bonds, for $65, III, ,244 was
announced to congress.
The receipts of the government for
| the fiscal year ending June 80, 1895,
We're 1890, ,373, ,203 80 and the expenditures
| $433. IT'S. .d26.4S, showing deficit of $4S.-
| sos, ,223.13. A further loan of 800, 900, 900
was negotiated by the government in
February, 1885, the sale netting SIT
! bonds issued within three years to
| 1882, BE. 400. For the fiscal year ending
| June 80, 1896, the revenues of the gov
| ernment from all sources amounted to
| $4O9, AIS, ,40S78. while it's expenditures
| were S434, ,67S, ,654. 3S, or an excess of eX-
| penditures over receipts of $25,203, 245.
In other words, the total receipts for
| the three fiscal years ending June 30,
| 1896, were insufficient by $137 81, 729. As
to meet the total expenditures.
Nor has this condition since improv
| ed. For the first half of the present
| fiscal year the receipts of the govern
| ment exclusive of postal revenues, were
| $157, ,507, ,6O316, and its expenditures, eX-
elusive of postal service, $195. 900 p.
| or an excess of expenditures over re-
ceipts of $37, ,902. .396.46.
In January of this year the receipts
! exclusive of postal revenues were $24,-
| BIG, ,994.05 and the expenditures. exclu-
siVe of postal service $50, ,269, 3S9. .29, de-
| ficit of 50. .592, ,395. "a for the month
| In February of this year the receipts
| exclusive of postal revenues were $24-
| 400. .S91.3S and expenditures exclusive OF
| postal service $2S. 1876, ,056.66 a deficit of
| s., ,395. .059.2S; or a total deficit of $1S6.-
| O31 $50. A for the three years and eight
months ending March 1, 1897. Not on
| ly are we without a surplus in the
! treasury but with an increased public
! debt there has been a corresponding in
| crease in the annual interest charge
! from S22. .S93, 20 in 1892 the lowest of
| any year since 1852, to $34, ,3S7 ,297 so in
! 1896 or an increase of $11, ,493. .414.40
| 1t may be urged that even il the reve-
| nues of the government had been SufH-
| cient to meet all it's ordinary expenses
! during the past three years, the gold re-
serve would still have been insufficient
! to meet the demands upon it, and that
| bonds would necessarily have been is
| sued for it's repletion. Be this as it may
! it is clearly manifest, without denying
| or affirming the correctness of such
| conclusion, that the debt would have
! been decreased in a least the amount of
| the deficiency and business confidence
! immeasurably strengthened throughout
! the country.
| Congress should promptly correct the
! existing condition Ample revenues
! must be supplied, not only for the ordi-
nary expenses of the government but
for the prompt payment of liberal pen
sionS and the liquidation of the princi-
pal and interest of the public debt.
| In raising revenue duties should be
SO levied upon foreign products as to
| preserve the home market so far as
| the manufactures; to relieve and to en-
| courage agriculture; to increase our do
| mestic and foreign commerce; to aid
| ard develop mining and building; and
| to render to labor in every field of use
! full occupation the liberal wages and
! adequate rewards to which skill and
| industry are justly entitled. The ne
| cessity 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 measure.
/ and to this object, 1 earnestly recommend
shall ma I<a every ondaayor