Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1897-03-19
M 'KINLEY'S FIRST MESSAGE
His First State Paper is
a Short One.
A statement srtke Financial Condf'
tfon OF the Govern peuf for the Past
Three Yeaws-Heeemmen more
Revenue ts Cure the Ills.

dent today 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.
1t is conceded that it's current expenses
are greater than its receipts, and that
such a condition has existed for now
more than ihree'years. With unlimited
means at our command, we are present
ing the remarkable spectacle of increas-
ing our public debt by borrowing money
to meet the ordinary outlays incident
upon even an economical and prudent
administration of the government
An examination Of the subject dis
closes this fact in every detail, and leads
inevitably to the conclusion that the
condition of the revenue which allows
1t Is unjustifable and ST ould be cor
rected.
We fpd by the 'reports of the secretary
of the treasury that the revenues for
the fiscal year ending June 80, 1892, |
from all sources were $42sS6S, 26o22,
and the expenditures for all purposes
were $4I5o538 o659 leaving an excess
OF receipts over expenditures of $o,oI4,.
1896. During that fiscal year, $4o,-
57o,467.9S were paid out on the public
debt, which had been reduced since
March l, 1889, S25o,o76,Ses, and the an
nual interest charge decreased SII ,6S4.-
$1,000. The receipts of'the government
from all sources, during the fiscal year
ending June 80, 1893, amounted to $461,-
no, s6I.94 and its expenditures to $685.
374,SS7. O., showing an excess of receipts
over expenditures of $a,34I,6 74.79.
Since that time the receipts of no fis-
al year, and with but few exceptions i.
If no month of any fiscal year, haye ex.
'eeded the expenditures The receipts
# the government from all sources,
Turing the fiscal year ending June 90,
S94, were $372, 8oa, 49S.a8 and the expen-
itures $442,6 ,7gs. 7, leaving deficit
t $6o8o3, IS. In February, 1894, II
10000 900 in bonds were issued, and a
November following a second issue a
f $4,000, 900 was deemed necessary. b
he sum of SII7,I7I795 was realized x
y the sale of these bonds, but the re- is
erve was steadily decreased until Feb =
iary 8, 1895, third sale of S62, 3Is,4oo &C
bonds for SOS, tI6,244 was announced Il
congress- The receipts of the gov OF
of the fiscal year ending June W
}, 1905, were $3Se,373o23.oS and the
'penditures S443I7S,476.4S, showing a NJ
'dcit of $42, o5,223.IS. A further loan pa
$Too,ooo,ooo was negotiated by the U
'vernment in February, 1896, the sale
citing $HI,I66, zoe, and swelling the g
,gregate of bonds issued within three Sc
'ars to S262,5I5,4oo. of
In January of this year the receipts, or
elusive of postal revenues, were S2A.. ne
1904 .o2, and the expenditures, exclu.
re of postal service, $500 1870. a
hcit OF S5,o52, 1854 for the month Il,
In February of this year, the receipts trr
elusive of postal revenue, were S24-, DR.;
o,997.3S, and expenditures, exclusive bp
postal service, $7S,796,o5666-a de. co,
It OF S4,395,o 1928, or a total deficiency Dire
SIS6o"I,s A for the three years and an,
mt months ending March I, 1907. tina
Not only are we without surplus in 81
treasury, but With an increased pub. est
debt there has been a corresponding Gig
rease In annual interest charges from of S
',S93,SS3.2o in 1902, the lowest of anv exa
r since 1861 to S34,3s7297,6o in 1900. son
may be urged that even If the reve. the
IS OF the government had been suf- of c
ent to meet all its ordinary expenses
ing the past three years, the gold re- S
'e would still have been insufficient mer
meet the demands upon 1t, and that liant
dslwould necessarily have been issued pan
Its repletion. Be this as it NAV. II Is som
rly manifest that the debt would New
been decreased in at least the and
'unt of the deficiency, and business has
ndence UNNECESSARILY restored In adv;
country. Congress should promptly proc
ect the existing condition. Annie
niue must be supplied, not only for A
ordinary expenses of government n
Tor the prompt payment of liberal ot -
lions and the liquidation of the 80 =
ciPie and interest of the public Hoh
- ra..ss,..t unde
W which shall provide ample reve. cb;,d
-. u''"ei uIgea. Inc aged