Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1897-03-16
INCOME WANTED.
Uncle Sans Revenue Not Stuff.
Gent for His Needs.
THE hub OF rK1sLEYs MESSAGE

Whsch Goes to Congress . Duy Earls.r
IMAM ExPected In Consequepee ~ ~.
ExPeditaoas 0Feaniunstou Of nan uc....
-Na&ioaal Revenues No< I>rv. 49,.
Figures Showing the situssion-An.
peal for PROMPT and Effective Action BIZ
Congress.
To the Congress Of the United States:
Regretting the necessity which has -.
Quired me to call you together. I feel
that your assembling In extraordinary
session Ii indispensable because of the
condition In which we find the revenues
OF the government. It IL conceded that
its 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
our command. we are presenting the
remarkable spectacle Of increasing our
public debt by borrowing money to meet
the ordinary OUTLAWS 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 1t IL unjustifiable
and should be corrected.
Last Year Of Excess OF Revenue.
We find by the reports Of the secre-
tary Of the treasury that the revenues
for the fiscal year ending June 80. 1892.
from all sources. were $425. S6S. 260. %, and
the expenditures for all purposes were
SALE. 1855. S03.56. leaving an excess OF re-
ceipts over expenditures Of 1884,
453.66. During that fiscal year, $40.57O,-
467.S8 were paid upon the public debt,
which has been reduced since March ],
1889. $259, 076, $50, and the annual inter-
est charge decreased 81, 6S4. $3.50. The
receipts Of the government from all
sources during the fiscal year ending
June 30. 1893. amounted to 1851. u.s.
5e1.94. and its expenditures to 1885,
S74.sS7.65. showing an excess OF receipts
over expenditures Of $2.341 .674.2s.
Since that time the receipts of no rs
cal year, and with but few exceptions
of no month Of any fiscal year, have ex-
ceeded the expenditures. The receipts
Of the government from all sources dur
ing the fiscal year ending June 30. 1894,
were 1917, S92, 1889, and its expenditures
$442. sos. 1887. leaving a deficit the first
since the resumption Of specie payments
Of SIS, 803, 2605S.
Had to Issue Some Bonds.
Notwithstanding there was a decrease
OF SIG. 769. Is in the ordinary expenses
of the government as compared with the
previous year, its income was still not
sufficient to provide for its daily necessi-
ties, and the gold reserve in the treas
ury for the redemption of greenbacks
was drawn upon to meet them. But this
did not suffice, and the government then
resorted to loans to replenish the re-
serve.
In February. 1894. $50. DOC. 900 in bonds
were issued and in November following
a second issue Of So. 0O0. 900 was deemed
necessary. The sum Of ST., III, 795 was
realized by the sale Of these bonds, but
the reserve was steadily decreased until
on Feb. 8. 1895. a third sale of $62, 315,-
400 in bonds for $65.116,2A was an
nounced to congress. The receipts of
the government for the fiscal year June
30. 1895, were $3.50. 373, EOS. 80 and the ex-
penditures $433.17s. 42s.4S. showing a def
icit of 81, 805. 223.1S.