Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1897-03-18

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the public debt, which las been reduced
since March !, 1889, 1853, 076 800. and
the annual interest charge decreased
I$u,C84, $40 so. The receipts Of the
government from al source during the
fscal year ending June 20, 1893,
amounted to Si6l 1861 "a, and is ex-
pendltures to s459 ,374,8S7 s.. showing
an excess Of receipts over expenditures
Of $234i 67f,29.
Since that time the receipts 81 no
fiscal year, and with but few excep-
lions Of no month o. any fiscal year
! have exceeded the expenditures The
receipts Of the government from all
sources during the fiscal year ending
June 80 1894, were $372, 1872, 1929, aud
ia expenditures $442 sos 1881, leay-
| Ing deficit, the first since the resump-
ton Of specie payments Of $50 500 200
| IS Notwithstanding there was a de-
crease OF ylG,7G9 i28 rs IN the Ordin-
airy expenses Of the government az
compared with the previous fiscal year,
It's income was still not sufficient TO
provide for It's daily necessities and the
gold resrye in the treasury for the re-
demption of greenbacks, was drawn
upon to meet them But this did not
suffice, and the government then re-
sorted to loans TO repenish the re-
serve.
I'm February. 1894, s500O00OO in
bonds we're issued and in November
following a second issue Of $50, 900. 900
was deemed necessary The sum OF
si17,I7l ,795 was realized by the sale Of
these bonds but the reserve was
steadily decreased until on Feb. D.
1895, q third sale Of 1852, 3l5, 400 in bonds
for $G5,1lG2 pa was announced TO con
grcss. The receipts Of the govern
mcut for the fiscal year ending June
30. 1895. were $3e0. 373 203 30 and the
expenditures $i33. IT'S, 42G AS, showing
deficit Of $i2 ,sO5, gals A further
loan Of slO0,O00,O00 was negotiated by
the government in February, 1896, the
aalo netting $l1l1GG,24G, and swelling
tho aggregate Of bonds issued within
three years 10 $2G2 3l5 400.
"For the fiscal year ending June 30,
1896. me revenues Of the government
from an sources amounted to sie0 AS
l0s rs, while It's expenditures we're
Si3f. G78. G5i As, or an excess OF expen-
difures over receipts OF S25 ,2O3,2l5.1O.
In other words, the total receipts Tor
the three fiscal years ending June 80,
1896 were insufficient by Sl3ISllf29.-
As 10 meet the total expenditures.
Nor has this condition since I'M
proved. For the first half of the pres
ent fiscal year, the receipts OF the gov
eminent exclusive Of postal revenues
were sI57.5O7. sos 7G. its expenditures
exclusive OF postal service $lg5, 3lO,O00.-
%. or an excess Of expenditures over
receipts Of S37 800 ,39i, 46 In Janu-
airy of this year the receipts, exclusive OF
postal revenues, were s2l3l6,s9i. 90,
and expenditures. exclusive Of postal
service, $50 269, $3.50 20, a deficit OF So
g52 1915 q for the month
In February OF this year, the r.
CENTS exclusive OF "ustal revenues were
$2i 400 997 80 and expenditures eNcln-
sivc Of postal service SOS ,056 66,
deficit Of 1895 $50 2S; or a total deficit
of SlS6.0Gl n for the three years and
eight months ending March I, 1897. Not
only are we without a surplus In the
treasury, hut with an Increase in the
public debt There should have been q
increase in the annual
interest charge from S22 800 $50 20 In
1892 the lowest Of any year since 1862,
to SSt. 1881. 297 60 In 1896, " an increase
Of Sll 1893. ili 10,
ct may be urged that even II the
revenues Of the government had boon
sufficient to- meet all It's ordinary eX-
penses during the past three years the
gold reserve would sttll have hs,n in
sufficient to meet the demands upon It
ana that bonds would necessarily have
been issued for it's repletion, BE this
as Il may Il Is clearly manifest without
denying or affirming the correctness u
such "a conclusion that the debt would
have been decreased in at least the
amount of the deficiency and business
confidence UNNECESSARILY strengthened
throughout the country.
Congress should promptly correct the
existing condition, Ample revenues
must be supplied not only for The ordin-
ary 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
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 aud increase
manufactures, 20 relieve and encourage
agriculture; 90 increase our domestic
and foreign commerce, 10 aid aud de
Nelop mining and building. aud 90 rem
lrr to labor iu every field of uscu, ocru-
Ration Uhn liberal wages and adequate
rewards On which skin ana industry are
justly entitled The necessity NJ the
passage 80 arG law which Shall pro-
Vide ample revenue need not I've further
urged.
THE imperative demand 10 thg hour