The daily morning journal and courier., 1897-03-16
THEPRESIDENTT0 CONGRESS-
URG ES THE IMMEDIATE ENACT MENT OF I HIGHER TARIFF.

Says, Let Us Provide Sufficient Revenue
 to Faithfully Administer the Govern
 ment Without Contracting Further Debt
 or Disturbing Our Finances.
 Washington, March 15.-The presi- dent to-day sent the following message to congress:
 To the Congress of the United States:
 Regretting the necessity which has required 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 government.
 It is conceded that as current eXpen- ditures are greater than it's receipts and that such a condition has existed for now more than three years With unlimited means at our command we are presenting the remarkable specta- cle of increasing our public debt by borrowing money to meet the ordinary outlays incident upon even an econom- ical and prudent administrat tion of the government An examination of the subject discloses this fact in every de- tail and leads inevitably to the conclu- sion that the condition of the revenue which allows it is unjustifiable and should be corrected.
 We find by the reports of the secre- tary of the treasury that the revenues for the fiscal year ending June 30, 1892, from all sources, were $425, ,86S, ,260 22, and the expenditures for all purposes were $415, ,956, ,S00.56, leaving an excess of receipts over expenditures of $9,914, 453.- 66. During the fiscal year $40 570, 467.9 .98 were paid upon the public debt, which had been reduced since March l. 1889, $259,076,S90, and the annual interest charge decreased $11, ,684 576,60 The receipts of the government from all sources during the fiscal year ending June 90, 1S93 amounted to $461, 716, 561. GA and its expenditures to $459, ,374, ,SS7.65, showing an excess of receipts over ex- penditures of $2,3H, ,674.29
 Since that time the receipts of no fiscal year and with but few exceptions, 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 30, 1891, were S372, 1902, ,49S2 29, and its expenditures were SAP 605, 75SS7, leaving a deficit, the first since the re- sumption of specie payments, of $69,- sos, ,260,58. Notwithstanding there was a decrease of SIG, 769, ,12S.7S in the ordi- nary expenses of the government, as compared with the previous year, it's income was still not sufficient to pro- vide for its daily necessities and the gold reserve in the treasury for the re- demption of greenbacks was drawn upon to meet them. But this did not suffice and the government then re- sorted to loans to replenish the re- serve.
 In February, 1894, $50, GOO 900 in bonds were issued, and in November follow ing, second issue of $50 GOO, ,000 was deemed necessary. The sum of $117,- 17l,759 was realized by the sale of these bonds, But the reserve was steadily decreased until. on February 8, 1S9J a third sale of $62,3154 400 in bonds for $65, PA was announced to congress.
 The receipts of the government for the fiscal year ending June 30, 1895, were $390, 373, ,203.30, and the expenditures $433,17S, 426.4S, showing a deficit of $42,- S05, 2231 10. A further loan of $l00, 900 900 was negotiated by the government in February, 1896, the sale netting S111,- 116,246 and swelling the aggregate of bonds issued within three years to $262,- 315, 400 For the fiscal year ending June 30, 1896, the revenues of the gov ernment from all sources amounted to $409. .475 40S.7S while its expenditures were $434.67s 654.4S. or an excess of ex- penditures over receipts of 1925. .203 245 70.
 Tn other words, the total receipts for the three fiscal years ending June 30, 1896, were insufficient by $137 ,S11, ,729. 46 to meet the total expenditures
 Nor has this condition since improv- ed. For the first half of the present fiscal year the receipts of the govern ment exclusive of postal revenues were $157, ,507, ,303.76, and it's expenditures ex- elusive of postal services, $195. .410, 900 p. or an excess of expenditures over re- ceipts of S37, 902, 396 46 In January of this year the receipts, exclusive of pos tai revenues, were $24. .316, ,994 05, a deficit of $5, 952. 395 24 for the month. In Feb ruary of this year the receipts. exclu- sive of postal revenues, were $24, ,400,- = 997.3S, and expenditures, exclusive of postal service, BPS, ,796 ,O56 66. deficit of $4 295, ,05a2S. or a total deficiency of $lS6, 0e1 ,580.44 for the three years and eight months ending March 1, 1897. Not only are we without a surplus in the treasury. but with an increase in the public debt there has been a corre- spending increase in the annual interest charges of from S22 892. .SS220 in 1892, the lowest of any year since 1862 to S34 2S7. 297 60 in 1896 or an increase of S11 499, ,4tAA0
 It may be urged that even if the rev. enues of the government had been suffi- cient to meet all it's ordinary expenses during the past three years the gold reserve would still have been insuffi- cipnt to meet the demands upon it and that bonds would necessarily have been issued for its repletfon. Re this as 1t may. it is clearly manifest. without denying or affirming the correctness of such a conclusion. that the doubt would have been increased in at least the amount of the deficiency and business confidence inmea asurably stronger throughOut the country.
 Congress should promptly correct the existing conditions Ample revenues must be supplied. not only for the orli- nary expenses of the government. but for the prompt payment of liberal pen
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