San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1897-03-16
II Is SHORT BUT ABLE AND SENSI-
BILE DOCUMENT, SUGGESTIVE
OF THE WRITER.
Gives Congressman Some Fsthsrly Ad-
vice In Course Of Public Benefit
And Urges An Immediate
Protective Tariff Bill.

President McKinley's message as read
to Congress yesterday:
'FO the Congress of the United
States-RealiZing the necessity which
has required me to call you together
| feel that your assemblage in extra
ordinary session is indispensable. be-
cause Of the condition in which we
find the revenues of the government.
1t is conceded that its current expendi-
lures are greater than it's receipts, and
that such a condition has existed for
now more than three years. With IN
limited means at our command, we
are presenting the remarkable specta-
Gle of increasing our public debt by
borrowing money to meet the ordinary
OUTLAWS incident upon even an eco
nomical and prudent administration of
government. An examination of the
subject diSclOses this fact in every de-
tail and leads inevitably to the con-
clusiOn that it is unjustifiable and
should be corrected. We find by the
reports of the secretary of the treas
ury that the revenues for the fiscal
year ending June 80, 1892. from all
sources were 1926, S6S, 260.22. and the
expenditures for all purposes were
$415, 1888, S06.56. leaving an excess of
receipts over expenditures of $9,914,-
1896. During that fiscal year $4O,-
SIC, 467.9S were paid upon the public
debt, which had been reduced since
March l. 1889, $3.50, O76, 800 and the an
nual interest charge decreased Sill
6S4 $1,000. The receipts of the gov
eminent from all sources during the
fiscal year ending June 30, 1893,
amounted to 1851, 1861 "a. and its
expenditures to 1874, $751;. 50, show
ing an excess Of receipts over eXpen-
ditures of S7,341 ,67429.
''Since that time the receipts of no
fiscal year, with but few exceptions,
or of no month of any fiscal year, have
exceeded the Expenditures. The re-
ceipts of the government from all
sources during the fiscal year ending
June 80, 1894, were 1872, 800. 49S. 20.
and its expenditures $40, 500, 1851,
leaving a deficit the first since the re-
sumption of specie payments. of $780,
500, 260.5S.
Notwithstanding there was de-
crease of SIG, 769, 12S.7S in the Ordina-
ry expenses of the government, as
compared with the previous fiscal
year, its income was still not sufficient
to provide for it's daily necessities, and
the gold reserve in the treasury 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
I'm February, 1894, $50,000,0000O in
bonds were issued and in November
following a second issue of $50,000,-
10000 was deemed necessary. The
sum of SIT, Ill, 795 was realized by
the sale of these bonds, but the reserve
was steadily decreasing until on Feb.
8, 1895, a third sale of $62, 315, 400 in
bonds for $50, 1862 was announced
to Congress.
'"The receipts of the government for
the fiscal year ending June 80, 1895,
were 1890, 373, 2O3,30 and the eXpendi-
lures S433. 17S, 426.4S, showing a def
cit of S42.SO5, 223.1S. A further loan
of S1OO,OO0OO was negotiated by the
government in February. 1896. the
sale netting $11.166,246, and swelling
the aggregate of bonds issued within
three years to $262,315,400.
For the fiscal year ending June 80,
1896, the revenues of the government
from all sources amounted to $409,-
Az, 40S.7S. while it's expenditures were
S434, 67S, 654.4S. or an excess of eXpen-
ditures over receipts of $50, 203, 245.7O.
In other words, the total receipts for
the three fiscal years ending June 30,
1896, were insufficient by $137,S11, 49,
46 to meet the total expenditures.
Nor has this condition since i'm
proved. For the first half Of the
| present fiscal year the receipts of the
government, exclusive of postal reven-
ues. were 1851, 507, 603.76, and its eX-
| penditures, exclusive of postal service,
| $195, 410,O00.22, or an excess of expen-
ditures over receipts of $37 ,902, 1866.
"In January this year the receipts,
| exclusive of postal revenues, were
$24, 316 994.05, and the expenditures,
| exclusive of postal service, were $780,
900, 3S9, %, a deficit of $5.952, 1854 for
the month. In February of this year
the receipts, exclusive of postal rev.
enues. were S24. 400, 997 SO. and expen-
ditures. exclusive OF postal service,
were SOS, 796, O56.66. a deficit of 81
395. 059. o., or a total deficit of $780,
661 ,5S0.44 for the three years and
eight months ending March l. 1897.
| Not only are we without a surplus in
the treasury, but with an increase in
| the public debt there has been a cor
responding increase in the annual in
| tereSt charge from S22, 1893 $50. 20 in