Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1897-03-20
M'KINLEY'S MESSAGE.
President Urges Upon Congress the
Need for More Revenue.
He Declares That the Recent Deficits Are
Alarming and Existing Conditions
Should Bc Correctcd--Tariff Bili
Should Take Precedence.

WASHINGTON, March t8.-The presi
dent yesterday sent the following mes
sage to congress:
To the Congress Of the United States:
| Regrettihg the necessity which has rcquiret
me to call you together, feel that your assem-
bling In extraordinary session Is Indispensable,
because d the condition In which we fnd III,
revenues OF the government II Is conceded
that Its current expenditures are greater thar
Its receipts and that such q condition has cx.
listed for now more three years
With unlimited means at our command w
arc presenting the remarkable spectacle Of In
crcasing our public debt by borrowing money
| to meet the ordinary OUTLAWS incident upon ever
| IN economical and prudent administration o
| the government An examination OF the sub
cct discloses this fact In every detail and leads
inevitably to the conclusion that the condition
| OF the revenue which allows II II unjustitablC
and should be corrected
We ind by the reports OF the secretary OF the
treasury that The revenues for the fiscal ycRi
ended June so, isqs, from nil sources were s4a5.
etS. - and expenditures for all sources were
S4i5. 9S3 s0d56 leaving nn excess OF receipts over
| expenditures Of 1904 i5a8d During that fiscal
year .4O,b'0, i67.9s were paid on the public debt
which had been reduced since March I, 1859.
s.59. 076. 500 and the annual interest charge de-
creased ell ISL. 51GG1
The receipts Of the government from oil
sources during tho fscnl year ending June 30.
1888 amounted to SOL 7i6. 56iei and It's expcnd-
lures to sI5g, ga. SIG5 showing On excess OF re-
ceipts over expenditures Of s2.3ii. C7i.a9. 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.
ha Atttlu ~ sl,s. all
sources during the fiscal year ended June 30,
1891. were ST. 81. $3.50 and It's expenditures
sii2, COS. 1881. leaving deficit, the first since
the resumption Of specie payments, Of go. sO3, .
26h5S Notwithstanding there was decrease
OF SO, 1dp, ia n IN the ordinary expenses Of tho
government. as compared with the previous
fiscal year. Its income was still not sufficient 10
provide for Its daily necessities and the gold re-
serve In the treasury for the redemption Of
greenbacks was drawn on TO meet them. But
this did not suffice. and the government then re-
sorted to loans TO replenish the reserve. In Feb
riiary 1891 5000 00O In bonds were issued and In
November following second issue Of SO OO0. 900
was deemed necessary. The sum Of sii7. III .79o
was realized by the sale OF these bonds, but the
reserve was steadily decreased until on Feb
ruary 8. 1894 third sale Of sJ2. 3iS 100 In bonds
for sdS. 49, III was announced to congress. The
receipts Of the government for the fiscal year
ending June %. 1875. wore $50. 3,3 20a 90 and
the expenditures S3j, i1s. i.diS. showing o de-
felt OF sIas0S,2.ala
A further loan Of $4,000 900 was negotiated
by the government In February. 1905 the sale
netting ELI. III. and swelling the aggregate
OF bonds issued within three years to s,ds. sib,-
100
For the fiscal year ended June 30. 1898. tho
revenues Of the government from oil sources
nss.I to xrsl.t ttu IL
lures were si3i. 67s. G5ii q. or IN excess Of ex-
penditures over receipts OF sea, eUa. s+5T0 In
other words, the total receipts for the three
fiscal years ended June 20. 1893 were insufficient
by az 81. TO 10 to meet the total expenditures
Nor has this condition since improved. From
the first half OF the present fiscal year, the re-
ceipts OF the government, exclusive OF postal
revenues were si57. 500. Co3 20 and its expendl-
lures exclusive OF postal service si95.2i0,0c0ss
or an excess OF expenditures over receipts OF
So. 90, 3edid In January Of this year the re-
ceipts exclusive Of postal revenues were 0i,-
si6,9aiCS and the expenditures exclusive Of
postal services $50 2o9, 30 deficit Of sosS9,-
1854 for the month.
In February OF this year the receipts cxclu
sive OF postal revenue were 81. q. s9'.3s. and
expenditures exclusive Of postal service sss,-
s96. O5d66 q deficit OF q. 1856 059 IS: or q total
deficiency OF sisj, OIL ,bsoii for the three years
aud eight months ending March I. 1897. Not
only nre we without surplus In the treasury.
but with IN increase IN the public debt there
has been corresponding Increase In the an
nual interest charge from 81. s93 se3 - In 1897
the lowest Of any year since 1872 10 sA.3sI,-
eg7. 90 In 1905, or IN increase OF I'll ,i9s ilAi0
1t may be urged that even II the revenues Of
the government had been sufficient TO meet oil
Its ordinary expenses during the past three
vaars Tho gold rasarva trnuld still haya hean
TO meet the demands on Il ind that
bonds would necessarily have been issued for
Its rcplctlon. Be this as II may, It Is clearly
without denying or Affirming the cor
RICHNESS OF such conclusion. that the debt
would have been decreased In at least the
amount OF the deficiency, and business conf
dence UNNECESSARILY strengthened throughout
the country.
Congress should promptly correct the exist
ing conditions 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 upon foreign products rs
TO preserve the home market, SO far rs possible.
TO our own producers: 10 revive and Increase
TO relieve and encourage agricul-
ture: TO increase our domestic and foreign COM
merce; to aid and develop mining and building,
and to render to labor In every
Geld Of useful occupation, the liberal wages and
adequate rewards TO which skill and industry
IRE justly entitled The necessity Of the pas
sage Of tarin 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 earnestly recommend that congress
shall make every endeavor. Before other bus
mess Is transacted let us first provide sufiicent
revenue TO faithfully administer the govern
nent without the contracting OF further debt,
Dr. the continued disturbance OF our finances
WILLIAM MCKINLEY.
Executive Mansion. March 10. 1897.