The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1897-03-27
SAID TO CONGRESS-
PRESIDENT N'KJNLEY'S MESSAGE TO
THE LAWMAKERS.
He Calls Attention to the Deficit In
the TREASURY and AXIS Congress to
Give 1t Prompt Considerations
Necesxity of the ransaEe of n
Tariff Law Which Shall
Ample Revenue.

Ample Revenue
The followin" is the presidents mes
sage in full:
To the congress of the United States:
Regretting the necessity which has re-
quired me to call you together, I feel that
your assembling in extraordinary session
is Indispensable, because of the condition
in which we find the revenue of the gov
ernlnent. 1t is conceded that its current
expenditures are greater than its receipts.
and that such a condition has existed Tor
now more than three years. With UNI
limited means at our command. we are
presenting the remarkable spectacle of in
creasing our public debt by borrowing
money to meet the ordinary OUTLAWS in
cident upon even an economical and pru-
dent administration Of the government.
An examination of the subject discloses
this fact in every detail, and leads in
evitaOly to the conclusion that the condi-
ton Of the revenue which allows it is un-
justiiable and should be corrected.
We find by the reports of the secretary
Of the treasury that the revenues for the
fiscal year ending June 20, 1892. from all
SOulCSS, were $4SO, 600, AnU.SS, anu Tie ca.
penditures for all purposes were S415, $685.
SOC. Sc, leaving an excess of receipts over
expenditures of SIS. 914. 453. 66. During that
fiscal yea $40. $40. 567.9S were paid upon
the public debt, which had been reduced
since March l, 1889, 1858, O76, 800. and the
annual interest charge decreased $11 .6S4,-
$1,000. The receipts of the government
from all sources during the fiscal year
ending June 30, 1903. amounted to $461,-
ZIG, 561. 81. and its expenditures to $459,-
3I4.SS7.65. showing an excess of receipts
over expenditures of $2,S41, 674.29. Since
that time the receipts of no fiscal year,
and with but few exceptions of no non
penditures. The receipts of the govern
ment from all sources during the fiscal
year ending June 30. 1894. We're S372 ,s92,-
49S.29 and its expenditures $442. 605, 75S. 81,
Leaving a Deficit,
the first since the resumption of specie
payment, of 500, 500. 2GO.5s. Notwith-
there was a decrease of SIG. 769,-
in the ordinary expenses of the
government, as compared with the previ-
to provide for it's daily neces-
stiles, 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
to loans to replenish the reserve.
In February, 1894, SOC, 600, 900 in bond
We're issued and in November following
a second issue of $50, OOO. 900 was deemed
The sum of $117,17 100 was
by the sale of these bonds. but
the reserve was steadily decreased until
on Feb. 8. 1895. a third sale of So. 315,4O On
in bonds for $65, ZIG, 244 was to
The receipts of the govern
ment for the fiscal year. June 30. 1895.
were $3.50. 1913, 203. 8O and the expenditures
cJS2 11S 400 lS Ch0u,ino q deficit of &lC
500. 223. is. A further loan of $780, 600. 900
was negotiated by the government in Feb
ruary. 1896, the sale netting Sill 166.246,
and swelling the aggregate of bonds is
within the three years to S2G2. 3D.
400. For the fiscal year ending June 30.
all sources amounted to $409. 49,
4OS. IS. while its expenditures were $434.-
CTS, 654. 4S, or an excess of expenditures
over receipts of So, 203, 245.70. In other
the total receipts for the three
years ending June 80. 1886, were in
sufficient by $137 81, 729.46 to meet the
total expenditures.
Nor has this condition since improved.
the first half of the present fiscal
year the receipts of the government, ex-
elusive of postal revenues, were $15I.5O7,-
GO3. 76 and it's expenditures. exclusive of
postal service. 1885, 40, OOO.2 %, or an ex-
cess of expenditures over receipts of S37.-
sIJU.7U III Jdlluoly III Ills SSoA LIAM
receipts. exclusive of postal revenues,
were S24, BIG, 994.O5 and the expenditures,
exclusive of postal service. $50. 269. 3S9. 29,
Il deficit of 5.052, 1924 for the month.
February of this year the receipts. eX.
of postal revenues, were S24,4OO,-
and expenditures. exclusive OF pos
tai service, sos. 1876. O56.6i, a deficit
of S.. 30. O59. 2S: or a total deficit of $780,
O61, 5S0.44 for the three years and eight
months ending March 1, 1897. Not only
are we without a surplus in the treasury.
with an increase in the public debt
there has been a corresponding increase
the annual interest charge from $2e2,-
$50 20 in 1892. the lowest of any ear
since 1862. to 1874, 55S7, 297.GO in 1S9G, or an
increase of Sill. 493, 414.4O.
Immediate Action Urged,
It may be urged that even if the re-
venues of the government had been suf1-
cient to meet all it's ordinary expenses
during the past three years. the gold re-
serve would still have been insufficient to
meet the demands upon it, and that bonds
would necessarily have been issued for it's
repletion. Be this as it may. it is clearly
without denying or affirming
the correctness of such a conclusion. that
the debt would have been decreased in at
least the amount of the deficiency. and
the business confidence UNNECESSARILY
throughout the country.
Congress SnOulO promptly cOiIeCl III ca
listing condition. Ample revenue 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 interest of
the public debt. In raising revenue,
duties should be so levied upon foreign
products as to preserve the home market
so far as possible to our own producers;
to revive and increase manufactures; to
relieve and encourage agriculture; to in
crease our domestic and foreign COM
to aid and develop mining, and
building, and to rende to labor in every
field Of useful occupation the liberal
wages and adequate rewards to which
skill and industry are justly entitled. The
necessity of the passage of a tariff law
which shall. provide ample revenue need
be further urged. The imperative de-
mand Of the hour is the prompt enact
ment of such a measure, and to this OBJ
ject 1 earnestly recommend that congress
make every endeavor. Before other
business is transacted, let us first provide
revenue to faithfully administer
the government without the contracting
of further debt. or the continued dis
of our finances.
William Mckinley.
Executive Mansion. March Is, 1907.
------ -
McNabb's Career Ruined.
Oshkosh. Wis, March II. After Il
sensational trial lasting nearly a week
- S-.... 100 A-..nH WY r NH-AY~11N IL