The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-03-27
MKINLEY'S MESSAGE.
The President Sends His First
Communication to Congress-
The Document Deals Wholly with statas-
tics About the Deficit In the Rev
enues-No Reference Made to
Foreign Questions.

WASHINGTON, March 15.-The preSt-
dent sent the following message to con-
gress:
To THE CONGRESS OF TIKI UNITED STA1Esi
Regretting the necessity which has required me
to call you together, 1 feel that your assembling
in extraordinary session Is Indispensable, be-
cause of the condition in which we lind the
revenues Of the government 1t is conceded
that its current expenditures are greater than
its receipts. and that such q condition has ex-
ssted for now more than three years
With limit means at our command, we
are presenting the remarkable spectacle OF in
creasing our public debt by borrowing money to
meet the ordinary OUTLAWS incident upon even
an economical and prudent administration of
the government. An examination OF the SUBJ
ject diScloses this fact In every detail and leads
inevitably to the conclusion that the condition
OF the revenue which allows it is unjustihabls
and should be corrected.
We find by the reports Of the secretary Of the
treasury that the revenues for the fiscal year
ending June 80, 1892, from all sources were s42o,-
Sos ,26O.@, and the expenditures for all purposes
were sIl5. 95S. SO656. leaving an excess OF re-
ceipts over expenditures Of 1924, 1896 Dur
ing that fiscal year s40,570, 1875 were
paid upon the public debt, which had
been reduced since March l., 1883. $685.
076,s90, and the annual interest charge
decreased sl1, LISA, 57650 The receipts of the
government from all sources during the fiscal
year ending June 30. 1898, amounted to 1851, 49,
1914, and its expenditures to 1853, 374, 1881. 80,
showing an excess OF receipts over expendi-
lures Of g. 81. 67429.
Since that time the receipts of no fiscal year,
and with but few exceptions OF no month OF any
fiscal year, have exceeded the expendi-
lures. The receipts of the government, from all
sources during the fiscal year ending June 80,
1854, were SS72,S 02, $3.50, and its expenditures
S+42, 65, 1885, leaving a deficit, the first since the
resumption Of specie payments, of S69,SB.26l58
Notwithstanding there vas q decrease of Sl6,-
49,, l2o-7S in the ordinary expenses of the gov
eminent, as compared with the previous fiscal
year, Its income was still not sufficient
to provide for its 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.
In February, 1894, S50,O 900, 900 in bonds were IS
sued, and in November following q second ISSUE
of SO, 100000 was deemed necessary. The sum
Of Sill, H. 95 was realized by the sale
OF these bonds, but the reserve was
steadily decreased until, on February s,
1895, a third sale of s62, Sl5, 400 in bonds, for S65,-
1924 was announced to congress. The receipts
of the government for the fiscal year ending
June 80, 1895, were 1890. 353, 209. 30 and the expend-
itureS S433, l1S, 20. 4S, showing a deficit of S42,-
s5 ,223 Is: A further loan Of SIOO.OOO,OO0 was
negotiated Dy the government IN fGDTudry 1870,
the sale netting Sill, 1926 and swelling the ag-
gregate Of bonds issued within three years TO
s262, 3l5, 400.
For the fiscal year ending June 80. 1885, tn.
revenues of the government from all sources
amounted to Sl09. 40, 40S. as, while its expendi-
lures were 1884. 67s. 654-4S, or an excess OF eX-
penditureS over receipts OF SIS. 2O3, 49, 40. In
other words, the total receipts for the three
fiscal years ending June 81, 1895, were inSuf-
fcient by Sl3I, oil ,129.46 to meet the total eX-
penditures.
Nor has this condition since improved. Fol
the first half of the present fiscal year, the re-
oeiptS OF the government. exclusive OF postal
revenues, were Sl57 ,JO1, 6G3. IS, and its expend-
lures, exclusive of postal services, sI95, no.
e0O.@, or an excess OF expenditures over receipts
OF So .9G2. 1896. 46.
In January. Of this year, the receipts exclu.
sive Of postal revenues were S24.316. g94. %, and
the expenditures exclusive of postal services
S3O.2 69, So9.29, a deficit Of $685., 1924 for the
month.
sive of postal revenue, were S24, 4O0, 997. IS, and
expenditures exclusive Of postal service
SIS, 796, 05G.66, a deficit of 81, 1885, O59.2S;
or a total deficiency Of S1S6, 061, 5S04 for ths
three years and eight months ending March l,
1897. Not only are we without a surplus in the
treasury, but with an increase in the public
debt there has been a corresponding increase in
the annual interest charge from 81. sos. ss9.2 20 il
1892, the lowest OF any year since 1852, to S34.-
8s1.297.6O In 1896, or an increase Of sll. 1873. Il440
1t may be urged that even II the revenues of
the government had been sufficient to meet all
its ordinary expenses during the past three
years. the gold reserve would still have been in
sufficient to meet the demands upon it, and thai
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 the deficiency, and business con-
fdence inlmeasurably strengthened throughout
the country.
Congress should promptly correct the existing
conditions. Ample revenues must be supplied
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 as to
preserve the home market, so far as possible,
TO our own producers; to revive and increase
manufactures: to relieve and encourage agri-
culture; to increase our domestic and for
eign commerce.; to aid and develop minin3
and building; and to render labor in every field
Of useful occupation the liberal wages and ade-
Quate rewards to which skill and industry are
Justly entitled. The necessity OF the passage o.
q tariff law which shall provide ample revenue
need not be further urged. The imperative de-
mand i Of the hour is the prompt enactment OF
such a measure, and to this object / earnestly
recommend that congress shall make every en-
deavor.
Before other business Is transacted, let u
first provide sufficient revenue to faithfully ad-
minister the government without the contract
ing Of further debt. or the continued disturb
snce Of our finances