Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1897-03-23
HIS FIRST MESSAGE.
President Mckinley Refers to the
Deficit Exclusively.

He Urges the Enactment OF a IAr'A'
Sill to Increase the Revenue
Declare This the Imperative
Demand of the Hour.
Washington, March 16.-The presl-'
dent Monday sent the following mes
sage to congress:
Ito the Congress Of the United States:
"Regretting the necessity which mas re-
quired me to call you together, 1eel tia.
your assembling in extraordinary eeHsioS
is Indispensable because Oh the coliole1o1A
in which we find the revenues OF the gov
eminent It is conceded that it's current
expenditures are greater than us tece,p.s..
and that such a condition has exlsteo LOT
now more than three years. With uhlltlt-
ed means at our command. we are pre-
senting the remarkable spectacle OF III
creasing our public debt oy borrowl:S
money to meet the ordinary outlays incl
dent upon even an economical ana pIu-
dent administration OF the government.
An examination OF the subject dlsvloseS
this fact in every detail and leads III
ovitably to the conclusion that the con-
di1ion Of the revenue which allows II Is
unjustitiable and should be corrected
I'VE find by the reports OF the secretary
of the treasury that the revenues lor the
fiscal year ending June ~. tS92, from all
sources. were $425, S6S, 260.22, anu the eA-
penditures for all purposes were S4l5,955'-
penditures OF $9.914, 45366 During that fiscal
year $4U, So, 467.9 SO were paid upon lhe public
ueDt, which had been reduced since Mafcii
l, 1889, $259, O76, 800, and the annual interest
charge decreased $u, go. 576.6v. he receipts
OF the government from all sources DUR
ing the fiscal year ending June 81, 1885,
amounted to $46l, 7iG, 56l.94. ahu Its eXpeno-
lures to $459,37l, s57.e showing an excess OF
receipts over expenditures or S2.54l, o|4.z9.
Since that time the receipts OF no fiscal
md wit h,,t fpV. an
month OF any fiscal year. nave exceeded
the expenditures. The receipts of the gov
eminent. from all sources. during the MS
:al year ending June ~, 1894, were $5I2'-
S02, 20, and its expenditures $442G I5s.-
81, leaving deficit. the first since the re-
sumption of specie pay1nents. OF $69, SO5, 40 So.
Notwithstanding there was decrease or
SIG, 7G9, rs in the ordinary expenses OF the
government, as compared with the preVl-
Gus fiscal year. its income was still not
sufficient to provide for its daily necessl-
ties, and the gold reserve in the treasury for
the redemption OF greenbacks was drawn
upon to meet them. But this did not suffice,
and the government then resorted to loans
10 replenish the reserve.
In February, 1894, $50,000,OO0 In bonds
were issued, and in November following a
second issue OF $4,000, wv was deemed neces-
sary. The sum Of $ll7,l7l, 795 was realized
by the sale OF these bonds, but the reserve
was steadily decreased until, on February
s. 1895, third sale OF $62. 315, 400 in bonds for
b6S.ll6 was announced to congress.
The Yearly Deficits.
The receipts or the government for the
fiscal year ending June 30, 1885. were $780,
80. and the expenditures $433, 49,
426.lS. showing a deficit Of $42, SU5. 223.13. A
further loan Of $10O. 100000 was negotiated
by the government IN February. 1856, the
sale netting $lll.lG6.240. and swelling the
aggregate Of bonds issued within three
years to s262, 400 For the fiscal year
ending June 80. 1896. the revenues of the
government from all sources amounted to
:A0e,4 ,4OS78. while its expenditures were
$434, 61S, CA.4S or an excess of expenditures
over receipts Of SIS, ,24370 In other
words. the total receipts for the three
fiscal years ending June 80, 1896, were in
sufficient by sl37.sll. 1886 to meet the total
expenditures.
Nor has this condition since improved.
For the first half Of the present fiscal year
the receipts of the government, exclusive
OF postal revenues. were $1o7, 507, 603.76, and
its expenditures, exclusive of postal serv-
ice, $195. 41O 0OO.22, or an excess of expendi-
lures over receipts of $37 go, 39G.46. In jan
uary Of this year the receipts exclusive OF
postal revenues wero $24,3l6,3 93U5 and the
expenditures exclusive of postal service
SEQ, 269 1922, deficit Of $685.. 1924 for the
month
Tho Total Deficit.
In February Of this year the receipts, ex-
elusive Of postal revenue, were &4.40O.-
997.38. and expenditures exclusive of pos
tai service $2S. .056.66, a deficit of $780,
05928: or total deficiency of $lSG. 06l, $50 A.
for the three years and eight months end
ing March I, 1897. Not only are we with
out a surplus in the treasury, but with an
increase in the public debt there has been
a corresponding increase in the annual in
terest charge from 81. 500, SS3. 20 in 1892, the
lowest Of any year since 1862, to s34,3
2S7.6O In 1895. or an increase of ST. 49S, 4l440
1T may be urged that even If the rev.
enues Of the government had been sutfl-
cient to NEE: all it's ordinary expenses dur
ing 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 it's reple-
ton. Be this as it may. it is clearly mani
fest. without denying or affirming the
correctness OF such conclusion, that the
debt would have been decreased in at least
the amount Of the deficiency, and business
confidence UNNECESSARILY strengthened
throughout the country.
Should Be Promptly Corrected.
Congress should promptly correct the
existing condition. Ample revenues must
be supplied not only for the ordinary ex-
penses of the government. but for the
prompt payment Of liberal pensions and
the liquidation OF the principal and inter-
est OF the public debt. In raising rev.
enues duties should be so levied upon for
eign products as to preserve the home mar
ket. so far as possible, to our own nro-
ducers; to revive and increase manufac.
lures. ~ IcllebS auu encourage dQrio111.
ture: to increase our domestic and for
eign commerce: to aid and develop mininr
and building. and to render to labor IN
every field of useful occupation the lih.
eral wages and adequate rewards to which
skill and industry are justly entitled. he
necessity of the passage of a tariff law
which shall provide ample revenue need
not be further urged. The imperative de-
mand Of the hour Is the prompt enactment
Of such measure, and to this object
earnestly recommend that congress shall
make every endeavor. Before other bust
ness is transacted, let us first provide suf
ticient revenue to faithfully administer the
government without the contracting of
further debt. or the continued disturbances
of our finances. (Signed)
WILLIAM M'KINLEY.'.
Executive Mansion. March Is, 1892.
Legislators sworn in.
Frankfort, KY, March II. The five
new state senators, four renuh1;o,