The citizen. (Frederick City, Md.) 1895-1923, 1897-03-19

We're $500. 1873 263 80 and the expendi-
lures S433, IT'S, 426. 4S, showing a deficit
of S42, sos, 223.1 10. A further loan of
S100,00O,000 was negotiated by the
government in February, 1896, the sale
netting Sill, l66, 246, and swelling the
aggregate of bonds issued within three
years to S262. 315, 400. For the fiscal
year ending June 30, 1895, the revenues
of the government from all sources
amounted to S469. ATS, 40S rs, while its
expenditures were S434, 67S, 654 4s, or
an excess of expenditures over receipts
of $25, 1908, 245.70 In other words. the
total receipts for the three fiscal wears
ending June 30, 1896, were insufficient
by $137, S11, 729. 46 to meet the total ex-
penditures
Nearly SsOO,OOO,OOO Deficiency.
Nor has this condition since i'm
proved. For the first half of the pres
ent fiscal year the receipts of the
government. exclusive of postal reve-
nues, were S157, 507, 603 76, and its
expenditures, exclusive of postal
service, S195 41O, 000.22 or an excess OF
expenditures over receipts of S37, 902. =
396.46. In January of this year the
receipts, exclusive of postal revenues
were S24,316,9 94.0 5, and the expendi-
lures, exclusive of postal service, S3O,-
200, 3S9. 90, deficit of $685., 395 "a for
the month. In February of this year
the receipts, exclusive of postal reve-
nues, We're S24, 400, 1897. 3S. and expendi-
lures, exclusive of postal service, $2S,-
796, 056 &C, deficit of S4, 395, O59. %, or
a total deficiency of 1856, 061, $50 A for
the three years and eight months end
ing March 1, 1897.
Big Increase in Interest Charge.
Not only are we without surplus in
the treasury, but with an increase in
the public debt there has been CORE
spending increase in the annual inter
est charge from $22, 1913, $50. 30 in 1892.
the lowest of any year since 1862, to
90 in 1896, or an increase of
,il4,4O 1t may be urged that
Z the revenues of the government
. been sufficient to meet its ordinary
.ipenses during the past three years,
he gold reserve would still have been
insufficient to meet the demands upon
it, and that bonds would necessarily
have been issued for its repletion. Be
this as it may, it is clearly manifest,
without denying or affirming the cor
rectness of such conclusion, the debt
would have been decreased in at least
the amount of the deficiency, and
business confidence immeasureably
strengthened throughout the country.
Tariff Urged Before Other Business.
Congress should promptly correct the
existing condition. Ample revenue
must be supplied, not only for the
ordinary expenses of the government,
but for the prompt payment of lib
eral pensions and the liquidation of the
principal and interest of the public
debt. In raising revenue, duties
should be so levied upon foreign pro-
ducts as to preserve the home market,
so far as possible, to our own pro-
ducers; to revive and increase
manufactures; to relieve and encourage
agriculture; to increase our domestic
and foreign commerce; to aid and de-
velop mining and building, and to
render to labor in every field of useful
occupation the liberal wages and ade-
quate rewards to which skill and in
dustry are justly entitled. The
necessity of the passage of tariff law
which shall provide ample revenue
need not be further urged. The
imperative demand of the hour is the
prompt enactment of such measure,
and to this object | earnestly recon-
mend that congress shall make every
endeavor. Before other business is
transacted, let us first provide sutfi-
Gent revenue to faithfully administer
the government without the contract
/ ing of further debt or the continued
disturbance of our finances.
WILLIAM MKINLEY.
/ Executive Mansion, March Is, 1897.