The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1897-03-17
IOuE ..LFENUEo NEEpED
President McKinl y Asks Congret
to PISS a TART Bill
That VIII Give TIL" Government EnouG h
Money to Pay Its Expenses and Re-
duce the Public Debt-A
Pithy State Paper.

WAsHIEGroN. A.agun 16.-The pres
dent yesterday sent the following mes
sage t. con rreSs:
70 the nn8rosS OF the United States:
Regretting t.e necessity which as require
me 10 call y"u tVgctLcs. feel that your assem-
bling in eXtraordina J - sSiCn is indiSp lsal9r
b. auSe OF the condition IN which we fin | O.
r, V 'nueS Of t =, vernment. 1t is cunceI 4
that its current expenditures are greater tla
It's receipts, and that such Il oAdition LIS q
iSted for more than three years With unlim-
tied means 1T our commit nd, we are presenting
the remarkable saettacl, Of increaSin, Ou
public GeOt by borrowing money TO meet III,
ordinary oItays incident upon even an e"U-
nomicIl and prudent administration OF the
government An examination OF the subjec
diScIoseS this fact in every de all and leu
inevitably 10 the conclusion that the condiIio
Of he revenue which allows it is unjust H..
and should lie corrected
We find by the re- or s Of tho secretary o.
the treasury that the r'vcnueS for the fiscal
year ending June 81, 1872. from all sources
were "A . SOS, -6S.22, and the eXpend tures for
all purposes were S4li, ,95j,e06 g, leaving an eI-
cess Of receipts over expCn lures q Sg,9li,-
5bH.Bd. During that fiscal year S0,570, "
were paid upon the public debt, which had
been reduced since March |, 1879, S2jD 076, SO j,
and the annual interest charge decreased all
GA, $1,000 The receipts OF the government
from all sources during the fiscal year ending
June ~, 1893, amounted to SIG ,7l6, l.94, and
its expenditures to 459 374, ,SS76j, showing an
excess Of receipts over expenditures OF S2,Sll,-
6742O
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 al
sources, during the fiscal year ending June 10
1884, were 1872, ,802, 1875 20. and It's expenditures
%42,6b, 1887, leaving deficit, the first since
the resumption OF specie payments, of SG9,Sli
26O.5S. Notwithstanding there was q decrease
Of $l6 769 l2S 10 in the ordinary expenses Of tn
government, as compared with the previous
fiscal year it's income was still not suffl ient t.
provide for its daily necessities, and the gold
reserve In the treasury for the redemption oi
greenbacks was drawn upon to meet them. Blu
this did not sunice, and the government ther
reSorted to loans to replenish the reserve.
In February, 1894, $50 1900 in bonds wert
issued, and in November following a secont
issue Of $50, ,0)000O was deemed necessary The
sum OF Sll7, III 795 was realized by the sale o.
these bonds, but the reserve was steadily de-
creased until, on February s, 1895. third sale
of S62,3l5, 400 in bonds, for S65, l6 pa was an.
nounced to congress-
The receipts Of the government for the flsca
year ending June go 1885, were 1890, 1913 2O3 80
and the expenditures S433, l7S, ,49e is, showing
deficit Of S42,S05, ,223.la A further loan O.
500 900 was negotiated by the governmen
In February, 1895, the sale netting Sill 100, PA
and swelling the aggregate bonds issued with
in three years to $9S!,315, 400 For the tisca
year ending June 3O 1895, the revenues of the
government from all sources amounted tt
S09 ,475, 047S, while its expenditures were
SlS4 ,6IS, ,65i 10, or an excess Of expenditures
over receipts OF S25, ,2O3 245.7O. In other words
the total receipts for the three fiscal years end.
ing June 3O 1895, were insufficient by Sl37,S1l, ),
729 TO meet the total expenditures
Nor has this condition since improved Fol
the first half OF the present fiscal year the re-
ceipts Of the government, exclusive of posta
revenues, were Sl57 ,507 ,603.76 and its expendit
ures, exclusive Of postal service $685. 4l0 00l -
or an excess Of expenditures over receipts
OF S37,902, 40, In January OF this year thu
receipts, exclusive OF postal revenues, wer
S24, ,3l6.9 Los and the expenditures, exclusive o
postal service, $50 269, ,3Sg 20, deficit Of S. 952
1924 for the month. In February OF this yea
the receipts exclusive of postal revenue, wer
S24 400, 1918, and expenditures, exclusive O
postal service, S2S 706 O56 &c. deficit OF 81, ,395,
0592S; or total deficiency of slS6 O6l $50 A TO
the three years and eight months ending Marc
!, 1897 Not only are we without a surplus Il
the treasury, but with an increase in the pub
lie debt there has been q corresponding in
crease in the annual interest charge from So,
S9S, ,SS3. 20 in 1892, the lowest Of any year sine
1852, to 1874, ,3S7 29T 90 in 1895, or an increase
&ll, ,493, ,41440.
1t may be urged that even II the revenues o.
the government had been sufficient TO meet al
Its ordinary expenses during the past thre
years, the gold reserve would still have bee
insufficient to meet the demands upon 1t, an
that bonds would necessarily have been issue
for its repletion. Be this as 1t may 1t is clearl
manifest, without denying or affirming the cor
rectness Of such conclusion, that the deb
would have been decreased in at least tn
amount Of the deficiency, and business con
fdence immessurably 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 tn
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 leyie
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 commerce; t
aid and develop mining and building; and t
render to labor in every field Of useful occupa
tion the liberal wages and adequate rewards t
which skill and industry are justly entitled.
The necessity Of the passage of tariff lay
which shall provide ample revenue, need not
further urged. The imperative demand Of tn
hour is the prompt enactment Of such meas
ure, and to this object I 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 contractin
OF further debt, or the continued disturbanc
Of our finances WILLIAM MCKINLEY.