Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1897-03-20
MORE REVENUES NEEDED
President Mckinley Asks Congress
to Pass a Tariff Bill
That VIII Give the Government Enough
Money to Pay It's Expenses and Ro-
duce tho Public Debt-A
Pithy State Paper.


WASHINGTON, March 16.-The presi.
dent yesterday sent the following mes
sage to congress:
To the Congress- of the United States:
Regretting the necessity which has required
me to call you together, feel that your assem-
bling in extraordinary session 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 such u condition has ex-
isted for more than three years With unllm-
tied means at our command, we are presenting
the remarkable spectacle of increasing our
public debt by borrowing money to meet the
ordinary outlays incident upon even an eco
nomicnl and prudent administration of the
government. An examination of the subject
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 ending June 30, 1892 from all sources
were S4s5 1858, ,26S22, and the expenditures for
all purposes were Al5 953, SOC 90. leaving an ex-
cess of receipts over expenditures of $685.
553.66 During that fiscal year Si0,570. 9S
were paid upon the public debt which hnd
been reduced since March 1, 1882 $3.50 O76, 800
and the annual interest charge decreased SILL
6S4, ,5766l The receipts of the government
lTOHl ull Spurious uuTlIlB UuC nSCul year CuullB
Juno 80, 1893 amounted to %6l, ,7l6,5 "a, and
its expenditures to s459, ,37i, SS7 6j, showing an
excess OF receipts over expenditures OF S2,34l,-
67420
Since that time the receipts OF no fiscal year,
and with but few exceptions of no month OF
any fiscal year nave exceeded the expenditures.
The receipts of the government from all
sources, during the fiscal year ending June 20.
1894, were S372, s02 49s.29, and it's expenditures
si42 6O5, 1887, leaving deficit, the first since
the resumption OF specie payments, of Se9, ,SO3-
260.5s. Notwithstanding there was q decrease
Of Sl6 6769 l2S 40 in the ordinary expenses OF the
government. as compared with the previous
fiscal year, its income was still not sufficient 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 Sunlce, ana the government then
reSorted to loans to replenish the reserve.
In February, 1894, s50,C00,000 in bonds were
issued, and in November following q second
issue OF $50, ,0o0.0 900 was deemed necessary. The
sum OF SI17, III ,795 was realized by the sale of
these bonds but the reserve was steadily de-
creased until, on February s, 1895, n third sale
Of S., ,315 400 in bonds for S65, ,ll62is, was an
| nounced to congress.
The receipts OF the government for the fiscal
| year ending June 30, 1885, were $780, 37S, ,203 80
| and the expenditures $433 1Ts .4s, showing n
500, ,000, 600 was negotiated by the government
in February, 1896. the sale netting Sill. 1856 246
and swelling the aggregate bonds issued with
| in three years to S2S2, ,3l5 400 For the fiscal
| year ending June 80 1895, the revenues of the
government from all sources amounted to
| s409, ,475 4027S, while its expenditures were
| SiS4, ,67S 65i.4S, or an excess of expenditures
| over receipts of S25, ,203 40, In other words
the total receipts for the three fiscal years end
ing June 80, 1885, insufficient by Sl37 ,Sll.
72q, 46 to meet the total expenditures.
Nor has this condition since improved. FoI
the first half of the present fiscal year the re-
| ceipts OF the government, exclusive OF postal
revenues were S157, ,507, 76 and its expendit-
ures exclusive Of postal service, S195 4l0 600 -
| or an excess OF expenditures over receipts
,f So, ,902, 49646 In January of this year the
receipts, exclusive of postal revenues, were
S24,3l6 99L 05 and the expenditures, exclusive oi
postal service, $50 269, $780, 90 deficit Of - 952,
| S95. "a for the month. In FEBRUARY OF this year
| the receipts, exclusive of postal revenue. wert
| S24, 400 997.as, and expenditures, exclusive o.
postal service, S2S796,05666 deficit of 81 ,395,.
0592S; total deficiency OF 1856, 06l $50 A fol
the three years and eight months ending March
| /. 1897. Not only are we without a surplus II
| the treasury, but with an increase in the pub
hc debt there has been n corresponding iu'
| crease in the annual interest charge from s22
500, ,Ss3 20 in 1892, the lowest of any year since
1862, to S34 ,3s7, ,297 90 in 1896, increase o.
| Gil, ,493 414.40.
1t may be urged that even II the revenues o:
| the government had been sufficient to meet al
its ordinary expenses during the past threi
| years the gold reserve would still have beer
| insufficient to meet the demands upon it, anC
that bonds would necessarily have been ISSUED
for its repletion. Be this 1t may, it is clearly
manifest, without denying or affirming the cor
rectness of such conclusion, that the deb
would have been decreased in at least thu
amoGnt of the deficiency, and business con
fdence immeasurably strengthened through
out the country.
Congress should promptly correct the exist
ing conditions. Ample revenues must be sup
piled, not only for the ordinary expenses of th
government but for the prompt payment o
liberal pensions and the liquidation OF tn
principal and interest OF the public debt Il
raising revenues, duties should be SO tevie
upon foreign products as to preserve the hom
market, so far as possible, to our own pro
ducers; to revive and increase manufactures
to relieve and encourage agriculture; to in
crease our domestic and foreign commences; I
aid and develop mining and building; and t
render to labor in every field of useful occupa
tion the liberal wages and adequate rewards I
which skill and industry nre justly entitled.
The necessity of the passage of a tariff Ia,
which shall provide ample revenue, need not b
further urged The imperative demand OF tn
hour is the prompt enactment Of such a meas
ure, and to this object earnestly recommen
that congress shall make every endeavor Be
fore other business is transacted, let us frs
provide sufficient revenue to faithfully admin
lister the government without the contracting
OF further debt, or the continued disturbanc
OF our finances. WILLIAM MCKINLEY.
HORSES ON THE TRACK