The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-16
APPEAL TO CONGRESS-
MKINLEY's FIRST MESSAGE TO THE
NATIONAL PARLIAMENT.
Brief, but Telling. Argument I'm Fa-
vOr of Immediate Legislation That
VIII Increase the Revenues.
HE DEPRECATES BOND ISSUES
AND POINTS TO DEFICIT OF $780,
O61, $50 IN FORTY-FOUR MONTHS
As One of the Chief Reasons Why Re-
ceipts of the Government should He
increased Dy Dutcs on imports.
RAPID WORK IN THE HOUSE
ORGANIZED AND READY FOR BUsI-
NESS IN THREE HOURS.
Speaker Reed and Other Officers Re-
Elected and Members sworn In
Proceedings of the Senate.
As One of the Chief Reasons Why Re-
ceipts Of the Government Should he
Increased by Duties on Imports.
RAPID WORK IN THE HOUSE
ORGANIZED AND READY FOR BUSI-
NESS IN THREE HOURS.
Speaker Reed and Other Officers Re-
Elected and Members sworn In
Proceedings of the Senate.
Special to the indianapolis Journal.


WASHINGTON, March 15.-The house
end of Congress began business, with
rush. The first day of the special session
was a record breaker in the popular branch
of Congress. A speaker and general officers
elected: members sworn in; the old rules
adopted after a fight; seats apportioned by
lot among members: the Presidents mess
age read; the tariff bill introduced; the
ways and means committee appointed. and
a basket of miscellaneous bills put into the
hopper.
The above is chronological enumeration
of the important events in the House dur
ing its initial sitting of three hours and
half. The Presidents message is the key
note of the whole future tariff campaign.
The debate on the pending revenue bill will
be little more than elaboration of Mr..
McKinley's latest utterances. 1t sets forth
concisely the paramount necessity for a
new law, presents the causes creating such
necessity and names the remedy. The situ-
alton is pictured i'm plain black and white.
simply, plainly and with absolute truthful
ness. The message follows:
ITO the Congress of the United States:
Regarding the necessity which has re-
quired me to call you together L feel that
your assembling in extraordinary session
is Indispensable because of the condition in
which we find the revenues of the govern
ment. 1t Is conceded that its current ex-
penditures are greater than it's receipts
and that such condition has existed for
more than three years. With unlimited
means at our command we are presenting
the remarkable spectacle of increasing our
public debt by borrowing money TO meet
the ordinary outlays- incident-oTs- even an
economical and prudent administration of
the government. An examination of the
subject dscloses this fact in every detail
and leads inevitably TO the conclusion that
the condition of the revenue which allows
IL Is unjustifiable and should be corrected.
We find by the reports of the secretary
of the treasury that revenues for the fiscal
year ending June 80. 1882. from all sources.
were Si29 500. .25o.22 and the expenditures for
all purposes were $4l5. .953 500. Sc. leaving an
excess of receipts over expenditures of So
l4.453.66. During that fiscal year Si0510.-
1878 were paid on the public debt, which
had been reduced since March l. 1889. $259-
Oi6,s90 and the annual interest charge de-
creased $11, ,6S45a6.6O. The receipts of the
government from all sources during the fis-
cal year ending June 80. 1893. amounted to
s46l. ZIG. "a and It's expenditures to s459.-
3l4.SS7.e5. showing an excess of receipts over
expenditures of s.. .34l .614.29.
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. The receipts of the gov
ernment from all sources during the fiscal
year ending June 80 1894. were $312, 500. .49S %
and its expenditures S442, ,6O5, 1857, leaving
a deficit, the first since the resumption of
specie payments. of $50. .S03. 260.5S. Notwith-
standing there was a decrease of Sic, 7e9.-
12S.7S in the ordinary expenses OF the gov
ernment, as compared with the previous
fiscal year. it's income was still not suffi-
cient to provide for it's daily necessities
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
to replenish the reserve;
I'm February, 1894. $50, ,0O0. 900 in bonds were
Issued, and in November following second
issue of $50, 600 600 was deemed necessary
The The sum of slla ID ,.s5 was realized by the
steadily decreased until, on Feb. g. 1895. a.
third sale of S62. .3l5 400 in bonds, for s65 l16.-
24i, was announced to Congress; The re-
ceiptS OF the government for the fiscal year
ending june so. 1885. were S39O. 1913, $50 and
the expenditures Si33.l1s. .466.4s. showing a
deficit of $42, sos. .223.1s. A further loan of
ment in February, 1896. the sale netting
sl11. ,2i6 and swelling the aggregate of
bonds issued within three years to $780,
315, 900.
For the fiscal year ending June 80, 1896
the revenues of the government from all
sources amounted TO $4O9 475, ,40S.7 rs. while its
expenditures were $434. Gas. 654. As. an excess
of expenditures over receipts of $50, 203, PAS 10
In other words the total receipts for the
three fiscal years ending June 80. 1896, Were
insufficient by $137, ,Sl1. 729 46 TO meet the to-
tai expenditures.
'Nor has this condition since improved
For the first half of the present fiscal year
the receipts or the government exclusive
of postal revenues were $l57, ,507 Cos. 76, and
its expenditures, exclusive of postal service,
oTer sSe Seceni OF of s @ OF In S
this year the receipts. exclusive of postal
revenues, We're s24 3l6, 1874 o., and the ex-
n9Ge deet of Of s9s5s 5egvise fer sS the
month. In February of this year. the re-
ceipts exclusive of postal revenues were
S24. 400. .997.3S. and expenditures, exclusive of
postal service. SIS. O5s.66. a deficit of
81. .395, 2S. or total deficiency of $1s6, ,061
5S0.44 for the thre years and eight months
ending March l, 1897.
Not only are we without a surplus i'm the
treasury. but with an Increase in the public
debt there has been corresponding increase
in the annual interest charge from so. S93 =
$3.50 in 1892, the lowest of any year since
1862, 10 $S4 SSl 291.60 in 1896, or an increase of
$11. ass. 41it9
1T may be urged that even if the revenues
of the government had been sufficient 70
meet all its ordinary expenses during the
past three years, the gold reserve would
still have been insufficient to meet the de-
mands on il and that bonds would neces-
sarily have been issued forits repleton. BE
this as IL may, IL is clearly manifest, with
out 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 i'm
measurably strengthened throughout the
country.
Congress should promptly correct the
existing condition. Ample revenues must
he supplied not only for the ordinary ex-
pensCs 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 he so levied upon foreign products
as 10 preserve the home market so far as
possible to our own producers: TO revive
and increase manufactures; to relieve and
encourage agriculture; TO Increase our do
mestic and foreign commerce. 10 aid and
develop mining and building and 10 render
TO labor i'm every field of useful occupation
the liberal wages and adequate rewards to
which skill and industry are justly en-
titled.
law which shall provide ample revenue need
not he further urged. The imperative de.
mand OF the hour is the prompt enactment
lssf ma and N hfe .l.s ,