The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1897-03-18
THE PRESIDENTS MESSAGE.
Asks Congress to Pass Tariff Bill
That Will Prevent Deficits.

That VIII Prevent Deficits.
President Mckinley sent his first
| message to Congress late Monday
| afternoon. 1t is reasonably short and
conspicuously statistical. Revenue is
his chief theme. He wants Congress
to stop the deficit. He favors pen
sions. The President starts out by
saying:
Regretting the necessity which has
required me to call you together, l
feel that your assembling in extraor-
binary session is Indispensable, be-
cause Of the condition in which we
find the revenues Of the government
1t is comedies that its current ex-
penditures are greater than it's re-
existed for more than three years.
With unlimited means at our COM
mand, we are presenting a remarkable
spectacle of increasing our public
debt by borrowing money to meet
ordinary outlaJs incident upon even
an economical and prudent admins
trat.on of the Government. An ex-
animation of the subject discloses
this fact in every detail, and leads
Inevitably to the conclusion that the
condition OF revenue which allows it
is unjustif1able, and should be cor
rected.
In the statistics, giving the present
condition of the treasury, the Presi-
dent points out total deficit OF SlS6, :
O61 $50 A for three years and eight
months, ending March /, 1897, and
adds:
Not only are we without surplus
in the Treasury, but with an increase
in the public debt. There has been a
corresponding increase in the annual
interest charges from S22, 1913, 8O5 20 in
1892, the lowest of any year since
1862, to 1874 387 ,297 60, in 1896, or an in-
crease of 81, 493, Ala 40.
GOLD RESERVE.
It may be urged that, even if the
revenues of the government had been
sufficient to meet all the ordinary ex
penses during 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 its repletion. Be
this as 1t may, it is clearly manifest,
without denying or affirming the cor
rectneSS of such a conclusion, that the
debt would have been decreased in at
least the amount Of deficiency, and
business confidence UNNECESSARILY
strengthened throughout the country.
Congress should promptly correct
must be supplied, not only for ordi-
nary expenses of the government, but
for prompt payment OF liberal pen
sions, and the liquidation Of the prin-
cipal and interest Of the public debt.
THE TARIFF.
In raising revenues duties should be
so levied upon foreign products as to
preserve the home market, so far as
possible to our own producers; to re-
vive and increase manufactures; TO
relieve and encourage agricultural
interests; to increase our domestic and
foreign commerce; to aid and develop
mining and building, and to render to
labor in every field useful occupa
tion and liberal wages, and adequate
rewards to which skill and industry
are justly entitled.
Tue necessity Of the passage of
tariff law which shall provide ample
revenue need not be further urged.
The imperative demand Of the hour
is the prompt enactment of such a
measure, and to this object l earnest
ly recommend that Congress shall
make every endeavor.
Before other business is transacted,
let us provide sufficient revenue to
faithfully administer the govern
nent, without contracting further
debt, or the continued disturbance of
our finances.