Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-03-16
THE MESSAGE.
The President Calls for Prompt
Action by Congress.
As Our Revenue Is Utterly insufficient
to Run the Government
He Asks that the New Tarin Bill Be al
Once Passed.

washing tCIl, Mdfcn l0.--Ihe PrCSl-
dent, Monday. sent the following mes
sage to Congress:
To the Congress of the United States:
Regretting the necessity which has
required me to call you together, feel
that your assembling in extraordinary
session is Indispensable because of the
condition in which we find the rev.
enues of the government. It is con-
ceded that it's current expenditures are
greater than it's receipts, and such a
condition has existed for now more
than three years.
With the unlimited means at our
command we are presenting the re-
markable spectacle OF increasing our
public debt by borrowing money to
meet the ordinary outlay incident upon
even an economical and prudent adj
ministration of the government and
an examination of the subject discloses
this fact in every detail, and leads in
evitably to the conclusion that the con-
dition of the revenue which allows it is
unjustiiiable and should be corrected.
We find by the reports OF the secre-
tary Of the treasury that the revenues
for the fiscal year ending January 30.
1892. from all sources were $425, S6s,-
260.22. and the expenditures for all pur-
poses were 1883, $685.. leaving an
excess CT receipts over expenditures of
s9,9l4.453.66. During that fiscal year.
S4O,5l0.fs7 were paid upon the public
debt, which had been reduced, since
March I, 1889. $3.50, 076.s90. and the an
nual interest charge decreased ST.
S4.516e0.
The receipts of the government from all
sources during he fiscal year ending June
70. 1899 We're si6i. .ls. 55l.4. and expendi-
lures Sis3.SI. SSI.G5 showing excess of re-
ceipts over expenditures OF s234 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 receipts of the government from all
sources during the fiscal year ending
penditures SAC. Cos. T5S.s7. leaving a de-
icit. the first since the resumption of
specie payments, of s69,s03, 2i0.5s. Not
wlthstanding there was a decrease of Ms.-
'bs,l2S.i3 in the ordinary expenses of the
government. compared with the previous
fiscal year, its income was still not suf-
iicient to provide for its daily necessities
and the gold reserve in the treasury for
the redemption of greenbacks was drawn
upon 10 meet them.
This did not suffice and the government
then resorted to loans to replenish the
reserve. In February. 1891. $780, 900 in
bonds were issued. and in the November
following, a second issue OF $50. 0oa eco was
deemed necessary. and the sum of SllI,-
Ia. iao was realized by the sale of these
bonds, but the reserve was steadily de-
creased until February s. 1926 the third
sale of s62.Sl5400 OF bonds for s65, TIC PA
was announced to Congress.
The receipts of the government for the
fiscal year ending June 30. 1895. We're
$500 1890; expenditures. Si33, Us ,426. IS;
Their loan of sioO0oo. 600 was negotiated
by the government in February, 1885, the
sale netting Sill .16G.2i6. swelling the ag-
gregate Of bonds issued within three
For the fiscal year ending June 30. 1896,
the revenues of the government from all
sources were s4o9, 475,ios.7S; expenditures,
over the receipts of S25 2o3, pas. 20. In other
words. the total receipts for the three
fiscal years ending June 80, 1895. were in
sufficient by sl3i, Sill I29.4s to meet the to-
tai 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 si51 ,507,-
1886. and its expenditures, exclusive of
postal services. $l95. 410. 0c0.22. an excess of
expenditures over receipts of s37 800, 396 &C.
In January of this year. the receipts, ex-
elusive of postal revenues, were $24 .316.-
994.05. and the expenditures. exclusive of
the postal service. $50 269. 3s9.29, a deficit
of IS. 20. 3395.24 for the month.
In February of this year. the receipts.
exclusive of postal revenues. Were $24.-
io0.997.Ss, and expenditures. exclusive of
the postal service. SIS. 796,o56.6S. a deficit
Of OF a,3s5 ,e592S, or a total deficiency. OF
1856 061 A for 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 correspond
inc In, ttr t,.t.
charges from go, S93 $50. 90 in 1892. the low
est of any year since 1862, to S34. AS, 297. go
in 1886. or an increase of sil,493,4l4.4O.
1t may pc urged that even if Inc rev.
enues of the government had been suffi-
Gent to meet all its ordinary expenses
during the past three years. the gold re-
serve would still have been insufficient
to meet the demands upon 1t. and bonds
would necessarily have been issued for its
repietion. Be this as it may. it is clearly
manifest. without denying or affirming
the correctness of such a conclusion.
that the debt would have been decreased
in at least the amount of the deficiency.
and business confidence UNNECESSARILY
strengthened, throughout the country.
existing condition. Ample revenues must
be supplied, not only for the ordinary |
of the government, but for the |
prompt payment of liberal pensions and
est of the public debt. In raising rev.
enue. duties should be so levied upon |
produce as to preserve the home market. !
so far as possible. to our own producers: |
to revive and increase manufactures; to |
relieve and encourage agriculture. to in |
crease our domestic and foreign COM
merce; to aid and develop mining and |
building: and render to labor in every |
ield of useful occupation liberal wages.
The necessity of the passage of tariff |
aw. which shall provide ample revenue,
need not be further urged The impera-
tive demand of the hour is the prompt |
enactment of such measure. and to this
inject | earnestly recommend that
Congress shall make every endeavor
9efore other business Is transacte>., let us
provide sufficient revenue to faithfully
administer the government, without the
concentration of further debtor the con-
inued disturbance of our finances.
(Signed) WIN. MCKINLEY