The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1897-03-18
REVENUE AND PROTECT
I'VE TARIFF.
BOTH STRONGLY URGED.
Deficits In the Governments Finances
for Nearly Four Years Pointed Out
Tho Bond Issues Adverted To-
Tariff Revision Advised Be-
fore All Else-The Doc
ument In Full

WASHINGTON, March 15.-President
Mckinley sent rather unexpectedly
his message to Congress this afternoon
as soon as both Houses had been or
gained. 1t was at once read as fol-
lows:
ITO the Congress of the United
States: Regretting the necessity which
has required me to call you together.
feel that your assembling in extraOr-
binary session is indispensable because
Of the condition in which we find the
revenues of the government. 1t is
conceded that its current expenditures
are greater than its receipts, and that
such a condition has existed for
now more than three years. With un-
limited means at our command we are
presenting the remarkable spectacle OF
increasing our public debt by borrow
ing money to meet the ordinary out
lays incident upon even an economic
and prudent administration of the
government An examination of the
subject discloses this fact in every de-
tail and leads inevitably to the conclu-
sion that the revenue which allows
such a condition is unjustifiable and
should he corrected.
Tho Deficits for Four Years.
eve find by the reports of the sec
rotary of the treasury that the revc-
nues for the fiscal year ending June
80, 1892. from all sources were $425.-
SGs, ECO. 90, and the expenditures for all
Lon
an excess of receipts over expenditures
of So, 9l5, 453. Ct. During that fiscal year
SO, $40, 4.'7.9s were paid upon public
debt, which was reduced since March
1889, Se59. orc, $50, and annual interest
charge decreased Sil,6S+.576.6O. The
receipts of the government from all
sources during the fiscal year ending
June 70, 1893, amounted to S461.116,-
bG1. "a. and its expenditures to $751;
374. SS-.65, showing an IS OF re-
ceipts over expenditur of S.,34l.-
67429
'.Sincc that time the receipts of no
fiscal year. and, with but few excep-
lions, of no month of any fiscal year.
have exceeded the expenditures. The
receipts of the government from all
sources during the fiscal year end
ing June 30, 1894, were S5..2, So, 49s. 20,
and its expenditures S44:,6O5, 75s. 81,
leaving deficit, the first since the re-
sumption of specie payments. of sG",-
sO3, go IS. Notwithstanding there was
q decrease of SIG, 100. 1875 7s in the Ordi-
nary expenses of the government as
compared with the previous fiscal
year, its income was still not sufficient
to provide for its daily necessities, and
the gold reserve in the treasury for
the redemption of greenbacks was
drawn upon to meet them.
liond Issues Adverted To.
''But this did not suffice. and the
government then resOrted to loans to
replenish the reserve. In February,
1894, $50, OOO, 900 in bonds were issued,
and in November following a second
issue of $50, 200, 900 was deemed neces-
sary. The sum of $l17, I'll, 795 was
realized by the sale of these bonds, but
the reserve was steadily decreased un-
til on February 8, 1895, third sale of
e6s. BIS, 400 in bonds, for S65, 116, .44
was announced to Congress.
The receipts the fiscal year, June
20. 1895. were $500. 3:3, eO3.3O and the
expenditures S433,17s, 1856, showing
= deficit of S4S. sO5, 223.1& A further
loan of 500, OOO. 900 was negotiated by
the government in February, 1896. the
sale netting Sill, 166,: 46 and swell
ling the aggregate of bonds is
sued within three years to $e6s, 315, 400.
For the fiscal year ending June 3O,
1895, the revenues of the government
from all sources amounted to $4O9, 49,
40e.7S, while its expenditures were
&%34, 67S, 654.4S or IN excess of expcnd-
itures over receipts of S.. :O3. s45..O.
IN other words, the total receipts for
the three fiscal years ending June 30,
1896. were insufficient by $l37.sll,-
9.46 to meet the total expenditures.
The situation Not Inprovinx.
Nor has this condition since inn
proved For the first half of the pres
ent fiscal year the receipts Of the gov
eminent exclusive of postal revenues
were Sl57. 5O7, 6O3.76 and its expendi-
lures exclusive of postal service $685.
100000 90, or an excess of exdenditures
over receipts Of S37. 9Os, 3o6.4S. In jan
aary of this year the receipts exclusive
of postal revenues were 81, Sic, 994. O5.
and the expenditures exclusive of
postal service $50. e69, $50. ga deficit
of 8 ,95:, 395.:+ for the month. In
February of this year the receipts
exclusive of postal revenues were
81, zoo. 997. IS and expenditures exclu-
Sive of postal service $es, 796, O56.66. q
deficit Of q. 3e5. O59. %; or total deficit
of $lS6. 03i. 5s0.44 for the three years
aud eight months ending March l.,
1897. Not only are we without a SUR
plus in the treasury. but with an in
crease in the public debt there has
keen corresponding increase in the
annual interest charge from Sc, $685.
$50 20 in 1899. the lowest Of any year
since 1862, to $34, 3S7 go. 60 in 1896, or
an increase of Sill, 493, IA. 20
1T may be urged that even If the