The River Falls times. [volume] (River Falls, Pierce County, Wis.) 1894-1933, 1897-03-23
The following is the presidents mes

The following is the presidents mes
sage in full:
To the congress of the United States:
Regretting the necessity which has re-
quired me to call you together, I feel that
your assembling in extraordinary session
is Indispensable because of the condition
In which we find the revenues of the gov
eminent. It is conceded that it's current
expenditures are greater than it's receipts,
and that such condition has existed for
now more than three years. With un-
limited means at our command, we are
presenting the remarkable spectacle of in
creasing our public debt by borrowing
money to meet the ordinary OUTLAWS in
cident upon even an economical and pru
dent administration of the government.
An examination of the subject dscloses
this fact in every DETAIL and leads in
evitably to the conclusion that the condi-
ton of the revenue which allows it is un-
Justifiable and should be corrected.
We find by the reports of the secretary
of the treasury that the revenues for the
fiscal year ending June 80, 1892, from all
sources, were 1925, 1858, 260.22, and the eX-
penditures for all purposes were $415, 953,-
SO6.56, leaving an excess of receipts over
expenditures of So, 914, 453.6 Sc. During that
fiscal year $4O,570, 567.9S were paid upon
the public debt, which had been reduced
since March l, 1889, $3.50, O76, 800, and the
annual interest charge decreased 81, 6S4,
$1,000. The receipts of the government
from all sources during the fiscal year
ending June 80 1898, amounted to $461,-
716561.94, and it's expenditures to $780,
314SS7.65, showing an excess of receipts
over expenditures of So, 341 ,674. 30 Since
that time the receipts of no fiscal year,
and with but few exceptions of no month
of feHaa l.. -.
penditures. The receipts of the govern
ment from all sources during the fiscal
year ending June 30, 1894, were 1912, S92,-
1929 and it's expenditures SAP 6O5, 75S. 81,
Leaving u Deficit,
the first since the resumption of specie
payment, of $50, SO3, 26O.59. Notwith-
standing there was decrease of $16, $780,
128.7S in the ordinary expenses of the
government, as compared with the previ-
Gus fiscal year, it's income was still not
sufficient to provide for it's daily neces-
stiles, and the gold reserve in the treas
ury for the redemption of greenbacks
was drawn upon to meet them. But this
did not suffice, and the government then
resorted to loans to replenish the reserve.
In February, 1894, 1000, 900 in bonds
were issued and in November following
a second issue of 100000 600 was deemed
necessary. The sum of Sill, Ill 795 was
realized by the sale of these bonds, but
the reserve was steadily decreased until
on Feb g. 1885, third sale Of 500, 315, 400
in bonds for $65, 116, pa was announced to
congress. The receipts of the govern
ment for the fiscal year, June 80, 1895,
were $500, 373, 203. 80 and the expenditures
$433, 49, 426.4S showing a deficit of $42,-
800, 2231S. A further loan of 500, 900
was negotiated by the government in Feb
ruary, 1896, the sale netting Sill, 166, 246,
and swelling the aggregate of bonds is
sued within the three years to $262, 3d.
400. For the fiscal year, ending June 30,
1896, the revenues of the government
from all sources amounted to $4O9, 49,
4OS.78 while it's expenditures were $751;
CTS, 654. 4S, or an excess of expenditures
over receipts of $40, 203, 245.7O. In other
words, the total receipts for the three
fiscal years ending June &c. 1896, were in
sufficient by $137, 81, 729.46 to meet the
total expenditures
Nor has this condition since improved.
For the first half of the present fiscal
year the receipts of the government, ex-
elusive of postal revenues, were $157, 507.-
6O3.7 and it's expenditures, exclusive of
postal service, $195, 40, O0O22, or an eX-
cess of expenditures over receipts of $37,-
900. 1896 46. In January of this year the
receipts, exclusive of postal revenues,
were $24, 316 994,O5 and the expenditures,
exclusive of postal service, $40, 269, S9.29,
a deficit of $5,952, 1924 for the month.
In February of this year the receipts eX-
elusive of postal revenues, were 9z4'4UO'-
997. 38 and expenditures, exclusive of pos
tai service, sos, 1856 O56.66 deficit
Of 81, 395, O592S; or a total deficit of 1885,
O61 $50 Al for the three years and eight
months ending March /, 1897. Not only
are we without surplus in the treasury,
but with an increase in the public debt
there has been a corresponding increase
in the annual interest charge from $22,-
2o9 9S3 90 in 1892, the lowest of any year
since 1862, to $34, 3s7, 2976O in 1896, or an
increase of $11, 493, 414,40.
Immediate Action Urged.