The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1897-03-18
EEINLErS MESSAGE 70 CONGRESS
REVENUE MUST BE INCREASED.
A Resdjrstmsnt Of the Tariff 10 Urgently
Recommended.

ITO the Congress OF the United States:
''Regretting the necessity which has re-
Quired me TO call you together, / fell that
your assembling in extraordinary session is
indispensable because OF the condition In
which we tind the revenues OF the govern
ment. II is con .eded that its current ex-
penditures are greater than It's receipts. an6
that such a condition has existed for now
more than three years. With unlimited
means at our command. we are presenting
the remarkable spectacle OF increasing our
public debt by borrowing money 10 meet the
ordinary outiays incident upon even an
economical and prudent administration OF
the government. An examination OF the
subject discloses this fact in every detail and
leads inevitably 10 the conclusion that the
condition Of the revenue which allows il is
uniustlfable and should be corrected.
I'VE find by the reports OF the secretary
OF the treasury that the revenues for the
year ending June so, 1892, from all sources,
were s426, SOS, 260 %, and the expenditures
for eli purposes we're !il5, 953, SOC Sc. leaving
an excess Of receipts over expenditure OF
So l4,& 53 &C, During that fiscal year s4O,-
570,46 IS were paid upon the public debt,
which has been reduced since March /, 1889.
s259,076, $50, the annual interest charge de-
creased ell 6s4, SO 60. The receipts OF the
government from all sources during the
fiscal year ending June 30. 1888, amounted
TO si6l 1866 81, and its expenditures to
S459, S74, SS7 GO, showing an excess OF receipts
over expenditures Of 81, 34l, GA 20.
FINANCIAL EXHIBIT.
''SiIce that time the receipts Of the fiscal
year and, with but few exceptions. Of no
month OF any fiscal year. have exceeded the
OK Expenditures. The receipts Of the govern
ment, from all sources during the fiscal year
ending June 80, 1924, were 1912, S02, 492. SO,
and its expenditures s4i2, COS, 1853. 90, leaving
a deficit, the first since the resumption OF
specie payments, OF $50, S03, 260. IS. Not
withstsnding there was a decrease OF Sl6,-
769, l2S,7 ~ In the ordinary expenses Of the
government, as compared with the previous
fiscal year, It's income was still not sufficient
to provide for its daily necessities, and the
gold reserve in the treasury for the redemp-
ton OF greenhacks was drawn upon to meet
them. But this did not suffice, and the gov
eminent then resorted to loans to replenish
the reserve.
I'm February, 1895, $50, OOO, 900 in bonds
were Issued, and in November following "A
second issue OF $50. OOO, 900 was deemed
necessary. The sum OF Sill, III. 1876 was
realized by the sale OF these bonds. but the
reserve was steadily decreased until. on
February 8, 1895. a third sale OF 500, 3l5. 400
in bonds for sos. llG, 244 was announced to
congress.
THE receipts Of the government for the
fiscal year ending June 80, 1895, were $780,
379. EOS. 80. and the expenditures S433, 49,
1876. AZ, showing a deficit Of S42, sos, 1913. is. A
further loan OF 800, 600, 600 was negotiated
by the government in February, 1896. the
sale netting Gil, 1C6, 2i6, and swelling the
aggregate OF bonds issued within three years
to s262, $40, 400. For the fiscal year ending
June 80, 1896, the revenues OF the govern
ment, IRON all sources. amounted to s409.-
AIS. 4OS. II, while its expenditures were S43i,-
CTS, 65i. As, or an excess OF expenditures over
receipts Of 1926, 203, 245. 70. In other words.
the total receipts for the three fiscal years
ending June 30. 1896. were nsuficien by
tl37,sl1 1919. 46 to meet the total expendi-
lures.
CONDITIONS now EXISTING.
mo has this condition since improved.
For the first half of the present fiscal year
the receipts'of the government. exclusive Of
postal revenues, were s157, SOL, 603.76, and
its expenditures, exclusive Of postal ser vice,
Sl95, 4l0, 600. 22, or an excess OF expenditures
over receipts Of $50, 9O2, 1885, G. In January
OF this year the receipts, exclusive OF postal
revenues, were $24, 3l6, 1874 .05, and the ex-
penditures, exclusive of postal ser
vice, $50, 269, $3.50. 80, a deficit of e. 52.-
1896 for the month. In February
OF this year the receipts, exclusive Of
postal revenues were S24, 400, 997 3s, and ex-
penditures, exclusive OF postal service,
$2S, 796, O56 &c, a deficit OF 1895, 059 IS, or II
total deficiency Of 1856, 06l, $50 A for three
years and eight months, ending March J.,
1897. Not only a:e We without a surplus in
the treasury, but with an increase in the
public debt there has been n corresponding
increase in the annual interest charge from
e22, s9S, 1888 20 in 1892, the lowest OF any year
since 1862, to $34, 1887, 297 60 in 1896, or an in
crease Of 81, 493. 41G 40.
at may be urged that even II the revenues
OF the government had been sufi cient 10
meet all its ordinary expenses during the
past three years. the gold reserve would still
have been insufficient to meet the demands
upon 1t, and that bonds would necessarily
have been issued for its repletion. Be this
as II mny. ii il clearly manifest, without de-
nyiDg or affirming the correctness Of such u
conclusion, that the debt would have been
increased in the least the amount OF the de-
f%ciency, and business confidence immeasur-
ably strengthened throughout the country.
RTvESrE THE GREAT NEED.
Congress- should promptly correct the ex-
listing condition. Ample revenues must be
supplied, not only for the ordinary expenses
oi the government, but for the prompt pay
ment OF liberal pensions and the liquidation
OF the principal and interest OF the public
uept. IN raising revenue, duties should he
20 levied upon foreign products as to pre-
serve the home market. so far az possible, to
TO our own producers; 70 revive and in
crease manufactures; TO relieve and en-
courage agriculture; to increase our
domestic ind foreign commerce.: to
aid and develop mining and building,
and to render 10 labor In every field OF
useful occupation tho liberal wages and
adequate rewards to which skill and. indus
try are justly entitled. The necessity OF the
passage Of Il tariff law which snail provide
ample revenue, need not be further urged.
The imperative demand OF the hour is the
prompt enactment of such a measure, and
to this object | earnestly recommend that
congress shal! make every endeavor. Be
fore other business is transacted, let us first
provide sufficient revenue TO faithfully ad-
minister the government without the con-
tracing Of further debt. or the continued
disturbance OF our finances.
civilian MCKINLEY.
.tE.na,N.. Nol-. rt,-.h. . z 4 -