The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1897-03-17
Increase the Tariff.
President Mckinley Gives In
structlons to Congress.

Washington, March Is The Presl.
dent to-day sent the following message
to Congress
TIE Congress of the United States:
Rsgrettiog she necessity which has re-
quired me to call you together, | feel
that your assembling in extraordinary
session is indispensable, because Of the
condition 10 which We 6od the reve-
naes Of the government. 1t is conced-
ed that its current expenditures are
greater than lis receipts aud that such
condition has existed for now more
,hao three years. With unlimited
means at our command, we are present
ing the remarkable spectacle of iucreas-
ing our public debt by borrowing mon
ey to meet the ordinary outlays incident
upon even an economical and prudent
administration of the government.
An examination of the subject dia-
closes this fact 10 every detail and leads
inevitably to the conclusion that the
condition of the revenue which allows
it is uujusti6able aud should be cor
recied.
We find by the reports Of the Secre-
tary of the Treasury :bat the revenues
for the fiscal year ending June 80,
1892, from ali sources were $425, $685..
260 %. aod the expenditures for all
purposes we're S415,953. 8O6.56. leav-
ing an excess of receipts over expeDdi-
lures of S9,914, ,45S 66. During that
fiscal year, $4o.570, ,467 50 were paid
upoo the public debt, which had been
reduced since March 1. 1889, $685.
o76, 800 and the suoualinterest charge
decreased S11,684 $1,000. The re-
ceipts of the government from all
sources during the fiscal year ending
Juue 80, 1898, amouuted to S461.-
ZIG 56I.94 and its expenditures to
S459 374,88 65. showing an excess
Of receipts over expenditures Of ST.
341,674 20.
Since that time the receipts Of no
fiscal year, and with but few exceptions
of 90 mooth of any fiscal year. have
exceeded the expenditures The re-
ceip,s of the government from all
sources duriog the fiscal year ending
June 80, 1894. we're 1872 802. 498 :
29, and its expenditures $442. 605.-
758 81. leaving deficit, the first since
the resumption of specie payments. of
S69.So3. .260.58. Notwiths o %
there was decrease Of $l6,7 &c. ,l2S.7S
10 the ordinary expenses Of the govern
tpeot. as compared with the previous
fiscal year. it's income was still rot suf-
fcieat to provide for its daily oecessi-
ties aud the gold reserve in the Treas
ury for the redemption of greeobacss
was drawn upon to meet them. But
this did not suffice, and the govern
mept then resorted TO loans to replenish
the reserve In February, 1894 $780,
600, 900 10 bonds were issued, aud in
November following second issue of
$50, 900, 900 was deemed pecessary. The
sun of Sll7.l71,795 was real zsd by
the sale of these bonds, bot the reserve
was steadily decreased uotil February
l8. 1895, third sale Of $62,315,-
400 10 bonds. for S65. .1l6. PA, was
aonouoced to Congress. The receipts
of the government for the fiscal year
ending June 30. 1895, were $780,
373. 203 80. and she expenditures
S433. ITS, 1926 48. showing deficit Of
S42,805, ,223.1S A further loan Of
Sl00. 100000 was negotiated by the
government iu February. 1896. the
sale netting $l11.l66 246, and swell
ing the aggregate of bonds issued With.
in three years to 1852 SIS 400. For
the fiscal year ending June 80, 1896.
the revenues of the government from
all sources amounted to S409.475.-
408 78, while its expenditures we're
$434, ,678,654 48 or an excess of ex-
pendi'ures over receipts of $25, 2O3,-
245 20; 10 other words. the total re-
ceipts for the three fiscal years. ending
June 80, 1896. were insufficient by
$137. .811. .729 46 to meet the total ex-
peuditures Nor has this condition
since improved For the frst half of
the present fiscal year, the receipts of
the government, exclusive ct postal
revenue, we're $751; 500, ,603 rs. snd
it's expenditure, EXCLUSIVE of postal SER
vice. sl95, ,410. .0O0.22, or az excess of
expenditures over receipts of S37, ,902,-
296 46. 10 January Of this year, the
receipts. exclusive of postal revenues.
we're s24, ,3l6.994 05. aud tie expendi
lures. exclusive of postal service,
$50. .269. .3S929, deficit Of $685.,
395 "a for the mouth. Ia February Of
this year, receipts, exclusive Of postal
reveoues, were s24 400 997.3S. snl
expenditures exclusive of postal
service. S2S. .796. o56.e6. dcfct
n 90