The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1897-03-19
M'kINLEY'S MESSAGE
The President Directs the Attention
of Congress to the Treasury.
PASSAGE OF A TARIFF Law URGED.
Mr.. Mckinley Wants Sufficient Reven ne
Provided to Faithfully Administer the
Government without Contracting
Debt or Disturbing Finances.

WASHINGTON. March 15.-The presi-
I dent yesterday sent the following mes
! sage to congress:
| TOthe Congress of the United States:
Regretting the necessity which has required
me TO call you together 1 feel that your assem-
bling in extraordinary seSsil N is Indispensable
because of the condition in which we find the
revenues Of the government 1t is conceded
that Its current expenditures are greater than
| its receipts and that sucn a condition has ex-
| listed for now more three years.
With unlimited 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 sub
iect diSclOses this fact in every detail and leads
inevitably to the conclusion that the condition
Of the revenue which allows it is unjustihable
and should be corrected
We find BY the reports Of the secretary Of the
treasury that the revenues for the fiscal year
ended June 30. 1892. from all sources were S435
SIS 260 - and expenditures for all sources were
s4l5 1858 $3.50 leaving an excess of receipts over
expenditures OF go 9l4 $500 During that fiscal
year i40.570 67.eS were paid on the public debt.
which had been reduced since March l. 1889
S259. 075. 500 and the annual interest charge de-
creased 81. 6S4 $1,000
The receipts OF the government from all
sources during the fiscal year ending June 80.
1893 amounted to 1851 1853. 81 and its expendi-
lures to $459 374 SS7 s. showing en- excess of re-
ceiptS over expenditures of S2.341. ga %. 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 government from all
sources during the fiscal year ended June 80.
1894. were 1872 802. 49S 70 and its expenditures
s442, sos 1885,. leaving deficit, the first since
the resumption Of specie payments, Of $50 SO3.-
2605s. Notwithstanding there was decrease
OF slB T69, I2S - in the ordinary expenses Of the
government, "a compared with the previous
fiscal year. its income was still not sufficient to
provide for its daily necessities and the gold
serve in the treasury for the redemption OF
Ereenbacks was drawn on to meet them But
this did not suffice, and the government then re-
sorted to loans TO replenish the reserve. In Feb
ruary 1894 $4,000 600 in bonds were issued and in
November following a second issue Of $50 900
was deemed necessary. The sum Of sllT III, 795
realized by the sale of these bonds. but the
reserve was steadily decreased until on Feb
ruary g. 1885 third sale Of Sf1 Sl5 40 in bonds
for s65. 1l6 PA was announced to congress The
receipts Of the government for the fiscal year
ending June 80. 1885. were 500 3T3. $50 and
the expenditures S4S3, as. ~. showing de-
felt of s42Sl52 Bis
further loan of SlO1.O)0O)O was negotiated
by the government in February. 1895. the sale
netting Sill l66. 24j and swelling the aggregate
Of bonds issued within three years to S252. 315.-
400
For the fiscal year ended June 80. 1898. the
revenues Of the government from all sources
amounted TO S409 40 1875. while its expendi-
lures were s434. SIS 654. ~. or an excess Of ex-
penditures over receipts Of S25. 203. 245.70 In
other words. the total receipts for the three
fiscal years ended June 50. 1895 were insufficient
by s1T. Sill 729 46 TO meet the total expenditures
All Ia
the first half Of the present fiscal year the re-
ceipts OF the government. exclusive of postal
revenues were S157. 5O7 6t3 20. and its expendi-
lures exclusive Of postal service sl95.2l JOl22
or an excess Of expenditures over receipts Of
S37. e02. 396. a. In January Of this year the re-
ceipts exclusive Of postal revenues were pa
316 1914 % and the expenditures exclusive of
postal services $50 269 $50 20 deficit of IS 952
395 "A for the month.
In February OF this year the receipts exclu.
sive Of postal revenue wers s24 40 997.3s. and
expenditures exclusive of postal service S2s.-
05666 a deficit OF - 3S5. 059 %: or a total
deficiency OF S1s30j1 $50 ~ for the three years
and eight months ending March 1. 1897. Not
only are we without a surplus in the treasury.
but with an increase in the public debt there
has been corresponding increase in the an
nusl interest charge from So 1913 $50 20 in 1892.
the lowest Of any year since 1892 to S3i. 3S7-
$3.50 in 1895. OF an increase of 81. 493 41440
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
insufficient to meet the demands on it and that
bonds would necessarily have been issued for
its repletion. Be this il 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 conf
dence UNNECESSARILY strengthened throughout
the country
Congress should promptly correct the exist
ing conditions Ample revenues must be sup
piled 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 agricul-
ture: to increase our domestic and foreign com
merce; to aid and develop mining and building
and to render 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 pas
sage OF a tariff law which shall provide ample
revenue. need not be further urged. The
imperative demand OF the hour is the prompt
enactment OF such measure and 10 this
object 1 earnestly recommend that congress
shall make every endeavor. Before other bus
mess is transacted let Us first provide sufficient
revenue TO faithfully administer the govern
ment without the contracting OF further debt,
or the continued disturbance Of our finances
WILLIAM MCKINLEY.
E,Yopf1fiva Mansion March