The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1897-03-27

W
dent Monday sent the following mes
sage 10 congress-:
TO the Congress &C the United States:
"RegrsttIrg the necessity which has re-
quired me 10 call you together feel that
your assembling In extraordinary session
is Indispensable because Of the condition
in which We ind the revenues OF the gov
eminent II is conceded that It's current
expenditures are greater than its receipts,
and that such condition has existed Ter
row more than three years. With unlinlt-
eG means at our command. we are pre-
sentirs the remarkable spectacle OF m
creasing our public debt cy borrowing
money 20 meet the ordinary out!ays incl
dent upon even an economical and pru-
dent administration Of the government
An examination OF the subject c!scioses
this fact IA every detail and leads In
cvitably TO the conclusion that the con-
dItioa OF the revenue which allows II Is
unjustlnable and should be corrected
we find by the reports Of the secretary
OF the treasury that the revenues for the
fiscal year ending June =. !ss2. from all
sources. were s4z5, sss, 26J %, and the eN-
peuditUres for all purposes were Ai5.s5S.-
$3.50, leaving an excess OF receipts over e&-
penditures OF 81, sl4. 49, c. During that fiscal
year 81. $40. 4f1.ss were paid upon the public
debt, which had been reduced since March
!, 1889. s259.016,sso and the annual interest
charge decreased Sll.524,515.6L The receipts
OF the government from all sources dur
ing the fiscal year ending June 81. 1873.
amounted 10 HGl. .56ls+, and its expend-
lures 10 s45s. 81. S57.e5. showing an excess OF
receipts over expenditures Of -. al. STAB
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 gov
eminent. from all sources, during the ts-
a s-az and IN = =
500. iss %, and its expenditures :ii2,c5. 15s. :
81, leaving a deficit, the first since the re-
sumption of specie payments, OF $ts,sJ3,2i1. %.
Notwithstanding there was decrease OF
$500. iZs.1S In the ordinary expenses OF the
government, as com pared with the previ-
Gus fiscal year. It's income was still not
sufficient TO provide for its daily necessi-
ties. and the gold reserve In the treasury for
the redemption of greenbacks was drawn
upon 10 meet them. But this did not suffice.
and the government then resorteG 10 loans
10 repleaish the reserve.
"ln February, 1891. So. 10000 IN bonds
were issued. and In November following a
second issue of SO. OF. go was deemed neces-
sary. The sum of s1l7il,T9j was realized
by the sale Of these bonds, but the reserve
was steadily decrea scd until, on Februa ry
S. 1885, third sale Of SCI. 3l5 100 in bonds for
365. 1924 was announced to congress.
The Yearly Deficits.
THE receipts OF the government for the
fiscal year ending June 80, 1895. were $780,
313 2033 60 and the expenditures Si33 LIS,
425.4s. showing a deficit of 81, SG5. 2c3 10 A
further loan OF S00.O00,c 0C was negotiated
by the government in February, 1886. the
sale netting Sl1l.l66.2i0. and swelling the
aggregate OF bonds issued within three
years to s2G2. 1890. For the fiscal year
ending June 81, 1896. the revenues of the
government from all sources amounted "a
'+oai75,oS.7s, while its expenditures were
t43f, SIS. sjlis or An excess OF expenditures
over receipts OF s25,203.2i 20. In other
words, the total receipts for the three
fiscal years ending June 80. 1896. were in.
sufficient by s!37, ST. 100 is to meet the total
expenditures.
"Nor has this condition since improved
For the first half of the present fiscal year
the receipts of the government. exclusive
OF postal revenues. were $50 .567 .6G37G. and
It's expenditures. exclusive of postal serv,
ice. si95,4l0 900 %, or an excess of expendi.
lures over receipts of s37 go. &C. In Jan
uary Of this year the receipts exclusive Of
postal revenues were $2i.2l6H9i.05. and the
expenditures exclusive of postal service
$30 2Gg, 3sg2a a deficit OF s5.9J2.2952i for the
month,
The Total Deficit.
In February Of this year the receipts ex
elusive Of postal revenue, were S9i, iO0
IS. and expenditures exclusive OF pos
tai service SIS, 7eG. 0j6f6 a deficit OF si,395,
JOS.-Ns or q JOtaI ueliClcNCy OF SlSbtU4l ,0Su u
| for the three years and eight months end.
| ing March /, 1897. Not only are we with.
out surplus In the treasury, but with ar
increase in the public debt there has beer
corresponding Increase In the annual in
terest charge from So, 500. $3.50 in 1882. tn,
! lowest OF any year since 1862, TO s3i.2s7
$3.50 Ia 1886. or an increase of 81 ,i92. Ala 10
at may be urged that even II the rev
| erues OF the government had been sufii
! cient to meet all Its ordinary expenses dur
| Ing the past three years the gold reserv,
| would still have been insufficient to NEE
] the demands upon it. and that bonds woulC
| necessarily have been issued for its reple
ton BE this as 1t may. II is clearly mani
/ fest, without denying or affirming the
| correctness OF such a conclusion, that tn,
debt would have been decreased in al leas
| the amount of the deficiency. ard bushes,
| confidence immeasurably strengthened
! throughout the country.
| Should lie Promptly Corrected
Congress should promptly correct tn
existing condition. Ample revenues mus
be supplied not only for the ordinary ex
| penses of the government, but for tn
prompt payment OF liberal pensions ant
| the liquidation of the principal and inter
est OF the publ!s debt. In raising rev
enues duties should be so levied upon for
eign products as to preserve the home mar
ket, so far as possible, to our own pro
| ducers: to revive and increase manufac
lures. to relieve and encourage agricul
ture: to increase our domestic and for
eign commerce; to aid and develop minin
| and building, and to render to labor Il
every field OF useful occupation the lib
ernl wages and adequate rewards to whicI
skill and industry are justly entitled TIL
! necessity of the passage of q tariff lay
| which shall provide ample revenue nee
not be further urged. The imperative de
mand of the hour Is the prompt enactmen
| OF such q measure. and to this object
earnestly recommend that congress shal
make every endeavor. Before other bust
ness is transacted, let us first provide SUI
ficient revenue to faithfully administer tn
government without the contracting O
further debt. or the continued disturbanc
| of our finances. tSigned)
WILLIAM M'KINLEY."
Executive Mansion. March Is. 1897
One Taken. the Other Left.
| pafh " " March IL A h,,,r,r,, I;