The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-03-16

Washington, March 15.-Thc cxtracr-
dinn-y session of the.sFifty fifth Congress
was opened by reading the Presidents
proclamation converting it. SiNty.cight
Senator's answered to the roll call and the
galleries were filed to overlooking.
w. A. Harris, Populist, of kansas, was
sworn in as successor TO Mr.. PETER
The credentials OF Henry w. Corbett,
appointed ny the governor Of Oregon to
succeed john II. Mitchell the legislature
having failed TO eect-wcre presented hv
Mr.. Mcbride, who stated that Mr. Corbett
was present and ready to take the oath
of Office.
Mr.. Gray, Of Delaware, thought that in
view of the unusual circums tanccs in
connection with the case, The credentials
should be referred to the committee on
privileges and elections He made IL mo
ton to that effect and it was agreed to-
After the appointment of committees to
notify the President and House that the
Senate was ready to begin its duties, il
recess WAS taken until . p. M.
At $40, Messrs. IIoar and Cockrell. the
COMMITTEES of the present Senate, reported
that "the President extended his cordial
greeting and would communicate Il PIES
sage IN writing in II short time
Assistant Secretary Eriidcn was then
announced and presented the messlue
which was read by the clerk rs follows:
70 the Congress of the United States:
RcSretting the necessity which has re-
quired me to call you together, feel that
your assembling in extraordinary sr";sion
~ Indispensable because of the condition
in which we find thr revenues OF the Gov.
crnnlent. 1t is conceded that its current
expenditures are greater than its rcccipts
and tDnt SiIcI : rnp1itin hos. Il g.,
now more than three years With un-
limited means mt our command, we are
presenting tbs. remarkable spectacle of in.
crcasng our public debt bv borrowing
money to meet the ordinary outlays Incl
dent upon even an economical and pru.
dent administration of the Government
An examination of the subject dscloses
this fact in every detail and leads incvi-
tably to the conclusion that the condition
OF the revenue which allows it is unjus-
tiiiable and should be corrected.
We find by the reports Of the Sec
letary of the Treasury that the rev
enue for the fiscal year ending June
30, lSl3, from all sources were 1920
S6S, 260.22 and the expenditures for all
purposes were %llJ, 9j3, SOC. 90, leaving an
excess of receipts over expenditures of
S9,0l4.453.G6 During that fiscal year
$1,000, 46I.9S were paid upon the public
debt, which had been reduced since March
!, 1883, :i2G, 0.6.60. The receipts Of the
Government from all sources during the
fiscal year ending June 80, 1898, amount
ed to$i6t, il6, 56l.9f, and its expenditures
TO Sf59,314, SSi.Gj, showing an excess of
receipts oseI expenditures of 81, Bill
G1429
Since that time the receipts of no fiscal
year aud with but few exceptions of 10
month of any fiscal year, have exceeded
the expenditures. The receipts of the
Government from all sources, during the
fiscal year ending June 80, 1891 we're
1872 SOP. 49S. 81 and its expenditures >;tl2,-
600, 1913 81, leaving II deficit. the first since
the resumption of specie payments, of
S69. SO2, 26O.1S Notwithstanding there
was decrease Of 1915, 100, 12S.7S in the
ordinary expenses of the Government rs
compared with the previous fiscal year,
its income WAS still not sufficient 20 pro.
vide for It's daily necessities, and the gold
reserve in the Treasury for the redcmp
tlon OF greenbacks was drawn upon to
meet them. But this did not suffice and
the Government then resorted to loans TO
rcplenish the reserve.
In February, 1894. 500, 000, 900 in bonds
were issued, and in November following.
Il second issue of $40, 600, 900 was dee ned
necessary The sum of $l17,11l, 100 was
realized by the sale of these bonds, but
the reserve was steadily decreased until,
on February s, 1890, ii third sale of %G2-
3i5,4O0 in bonds for SO, | 1924 WAS IAN
nOunced TO Congress.
The receipts of the Government FOR the
fiscal year ending June 30, 1898, were
S39O, 3I3, 203.30, and the expenditures
$i33, lis, l26.IS, showing deficit of s,l2,-
SUD- Is. y further loan of 100000, .
QUO was negotiated by the Government in
February, 1896. the sale netting S111, 1885,
246 and swelling the aggregate of bonds
issued within three years TO S262, 3l5 400.
For the fiscal year ended June 30, 1896.
the revenues OF the Government from all
sources amounted to $i09, 475 40S. rs,
while its expenditures were Sl34, CTS.
AZ, or an excess of eXi enditures over
receipts of S25, $3.50. In other
words, the total receipts for the three ifs.
cal years ending June 30 1896, were in
sufficient by $l3i, 1911 s29 46 TO meet the
total expenditures.
Nor has this condition since improved.
For the first half of Che present fiscal
year the receipts of the Government. cX-
elusive of postal revenues. were $151, j0t..
6o3. ~, and its expenditures, exclusive CT
postal service. Sl95. 40, 000. 30 ,,or an ex.
cess of expenditures over receipts of :s37,
JO2 ,396. In January of this year the re :
ceipus, exclusive OF postal revenues, were
$24,3l6,994 and expenditures, exclusive OF
postal service, $40, 2G9, $3.50, II deficit of
So.952,3!l0 for the month. In February Of
TINS year the receipts, exclusive of pc stal
revenue, were S24 400, $50 and eXpendi-
lures, exclusive of postal service, $aS,.
i96, 056, n deficit OF 81 ,395, 059; or n total
deficiency of 1886, 06l, $50 for three years
and eight months ending March /, 1897
Not only are we without n surplus in the