The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1897-03-16

and leads to the portable conclusion
that the condition pf ,he revenue which
allows IL is unjustitdhie and should be
corrected.
We find by the reports Of the sccre-
tary of the treasury that the revenues
for the fiscal year ended June 20. 1899.
from all sources, were Si25, sss 260. % and
the expenditures for all purposes were
hl5,953, ,so6.56. leaving an excess of re-
ceipts over expenditures of ss.9l4. .t53.6e.
During that fiscal year $40. $40. .i61. .9s
was paid upon the public debt, which
has been reduced since March 1. 1883.
S2o9,O16,S90, and the annual interest
charges decreased sll.6s4.576.60. The
receipts OF the government from all
sources during the fiscal year ended
June 30. 1893, amounted 10 Sl6, 7l6, SOL
"a. and its expenditures To 1853, 31+ $751;
s., showing an excess of the receipts
over expenditures of s2,Sil,6 ,6i4.2s.
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 ended
June 30, 1894. were S5,2, Sg2, ,49S29. and It's
expenditures s442.605. 1887. leaving a
pShNias ~ iuf vi
specie payment. of $50, s03. .2S05S. Not
withstanding there was decrease of
Sl6, 769, l2s.IS in the ordinary expenses Of
the government as compared with the
previous fiscal year, It's income was
still not sufficient to provide for its
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.
In February. 1894. 100000 900 of bonds
were issued and In November follow
Ing a second issue of s50.0o0,000 was
deemed necessary. The sum of sll7.-
11.1s5 was realized by the sale of these
bonds, but the reserve was steadily de-
creased until on Feb. :. 1895, the third
sale of bonds was announced To con-
gress.
The receipts of the government for
the fiscal year ended June 80, 1895. were
$39O, 1913, 203.30 and the expenditures
N33, LIS, 426.4s, showing "A deficit of $iS.-
sos. .223lS. A further loan of 500. .O00. 900
was negotiated by the government in
February. 1896, the sale netting slil.-
166,246 and swelling the aggregate Of
bonds issued within three years to
$262. .3l5. 400. For the fiscal year ended
June So, 1880, tne revenues OF tne gov
eminent from all sources amounted to
$4OS, fos..s, while Us expenditures
were S43i SIS. .65i.iS or an excess Of cx-
penditures over the receipts of 25,2o3, =
24b.10. In other words, the total re-
ceipts of the three fiscal years ended
June 20. 1896, were insufficient by
$l31.S11, I29.f6 to meet the total eXpen-
ditures. Nor has the condition since
improved,
For the first half of the present fiscal
year, the receipts OF the government.
exclusive of postal revenues, were
sl5l 500 ,6O3.76 and the expenditures,
exclusive OF the postal service. $780,
4lO.OOO.2S. or ar excess OF expenditures
over the receipts of SJI.e023 396.i6. In
January this year, the receipts, exciu-
slve OF postal revenues, We're s2i,5l6. :
99429. a deficit OF $685., 1924 for the
month. In February, this year. the
receipts. exclusive of postal revenues,
were $24. 4.iOO,99I.S and the expenditures,
exclusive OF postal service. $2S. ,OS6. :
66, a deficit OF x4.395. 053.2S, or a total
deficit of $1S6, ,5SO4 for three years
and eight months ended March ]. lS9'.
Not only are we without surplus in
the treasury, but with an increase in
the public debt, There has been cor
responding increase in the annual in
terest charge from SSz.S93,SS3.2V IN NV.
the lowest of any year since 1862, tn
$343S1 ,29l.60 In 1895, or an increase of
$ll, ,493, 3,4lf.40. IL may he urged that even
II the revenues of the government had
been sufficient to meet all It's ordinary
expenses during the past three years.
the gold reserve would still he INSULT
cient to meet the demands upon II and
that bonds would necessarily have been
issued for Its repletion. BE THIS as II
may. IL is clearly manifest. without
denying or affirming the correctness of
such conclusion. that the debt would
have been decreased In at least the
amount OF the deficit and business con-
fdcnce immeasurahly strengthened
throughout the country.
Congress should promptly correct the