The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-03-16

WASHINGTON. u. C.. March l5.--
The President, to-day sent the follow
iuE message TO Congress:
To the Congress of the United States:
EeeeulnS the necessity which has
required me tu call you together, | feel
,hat your assembling in extraordinary
session is Indispensable bec1usc or the
condition In which We iinI The revenues
NJ ihr government II is conceded that
lis current expenditures are RrcRtcr
than lts receipts. and that such couul'
ilou has existed for now more than
three yrarS with unlimited means 1T
gtlr command. we are presenting the re-
t8Arkahle spectacle ~ increasing orr
,lrIh!tc debt by borrowing money 10
meet the ordinary OUTLAWS Incident nv.
on even an economical and prudent al
ruinlstratlun OF The government. I'm
sXamInnti0n OF the guhlegt disclnSoS
this fNrt IN every detail and leads lnoN'
i;ably to the conclusion that thr roudt-
''dn ~ the revenue which allows II ~
rnjusilnnble aud should hc corrected.
We find by the reports "f the srcrr,a'
:, ct the treasury that the revenues Tor
the fiscal year ending June 80. lSNs,
from all sources were $40 >6S,-bn -,
and the expenditures Tor al purposes
were Ni5 .pS2 sos 5S, leaving nm excess
" receipts over expenditures OF 6?,glA.-
- g. During that fiscal year sO.1tO.-
is5 9S were paid upon the public debt.
which had been reduced since March !,
lSSg. Ss5a. .OT6 500 anL the annual inter-
rst charge decreased Sll 6st, ,iI6 6O The
receipts Of the government. from all
sources during the fiscal year ending
June 81, 1893. amounted tn Fi6L 1851 y,
and It's expenditures (" Si59.5lSN 81.
showing an CNCcst ~ receipts over eN"
lenditu7es ~ Ss,&I!St, %
since that tim" the receipts ot no fis.
cal ysar and, with but few exceptions. OF
NJ month In any nsCnl year. have cS-
reeded the expenditures Tho receipts
VI the governments. from all sources.
during the fiscal year ending June ~.
lS,g were 33f2, So. .Ia9 So and its cNpeEs
diiures Sll1. .6i5. T5S VI, leaving d"Ncli.
the first since the resumption o! specie
raynents. OF $50. .S03 go IS.
Notwithstanding there was decreaEe
NJ IlG. .I6g, ,l9S 7s in the ordinary eN-
renssS OG the government as compared
with the previous liscal year It's income
vas StiEl not Pufiiclent 10 provide for itS
lafIy necessities, and the gold reserve
Nm the treasury gor the redemption OF
--..nhnrk4 was drawn upon 10 meet
them. Rut this did not 5utilce, and the
government then rVsOrted 10 loans to
fcplenlsh the reserve.
The Itond ISsHeI
In February, iS9I s5O,OooOOO in bonds
was deemed necessary. The sum OF
Slii.i7l, Ts5 was realized by the sale ot
these bonds, but he reserve was stead
rs decreased until on February !. 1893,
third sale OF S69,Jl5,40O IN ponds Tor
Ssj,il6,2I4 was announced to Congress-
The receipts Of the government Tor
the hscal year ending June 20, 1925.
were $3.50, ,l73 200 20, and the e&pcndi-
lures $Is9, las, ,I2G IS. showing deficit Of
81, sos 22a is. A further loan OF $780,
O00 100 was negotiated by the govern
ment In February, 1896. the sale netting
Sill .gI6, and swelling the aggregate
NJ lends issued within threa years TO
3ss2. .5l5. 100. For the fiscal year ending
June 70, 1896 the revenues OF the gov.
ernmeut from al sources amounted TO
SECS. ia, ,4OS II. while its expenditures
were Sl3l.619,65i 4B. or an excess OF cN'
pcnditurcs over receipts OF $2S,2Q5, 40 ~.
In other words the total receipts Tor
tho three fiscal years ending June 80.
1895 were insufficient by $l3hsll, I29 80
tu meet the total expenditures.
Nor has this condition since ImpTov.
'd For the first half OF the present
fiscal year, the receipts OF the governs
ment, exclusive OF postal revenues,
we're Sl5T, 1901, ,613 IS. and its expendl'
turrs. exclusive OF postal service, $780,
10000 -. or an excess OF expenditures
over receipts OF 81. .902, 1896 40. In Ianu-
ary Of this year the receipts, exclusive
of postal revenues were %2i,nB,994 %,
and the expenditures. exclusive OF pos:
tai service, &30.?69, ,2S9 29, deficit OF
3i.9i2,2s5 "a for the month. In February
of this year the receipts. exclusive OF
POSTAL revenues, we're 4244OO,Osl W, an
expenditure, exclusive OF postal service,
SgS7gS OjS Gs, n deficit OF A.Is5OSs 2S. or
a total deficiency Of SlSG.O6l. $50 A for
three years and eight months ending
March |. 1887. Not only are we with
ont 4 surplus in the treasury, but with
m increase In the public debt there has
been corresponding Increase in the
annual interest charge from $?2,S!J'-
S9 ~ in 1892. the lowest Of any year
sine" 1862. to S3i.SS7. .3O7 6O In 1856, or an
increase 0t SIl,lga,il6 40.
II may be urged that even II the rev
cnurs NJ the government had becn SUM
oIcnt to meet nll It's ordinary expenses
during the past three years. the gold re.
serve would stlll have been insufficient
10 meet the demands upon II and that
bonds would necessarily have been Is
sued Tor Its replctIOn, BE this AZ II
may, It II Clearly manifest. without de-
nying or affirming the correctness OF
mCh q conclusion, that the debt would
have been decreased IN nt least the
umcnnt Ot the deficiency and business
confidence immcRsurRbly strengthened
throughout the country,
Prompt Action ASktd.
Congress- should promptly correct
IN, exciting condition. Ample rcyenucs
must h. supplied not only for the urtll.
mary expenses Of the government, hat
FOR the prompt payment or liberal pen.
alOns and the LIQUIDATION OF the prlnCI.
rnl aud interest Oi the public debt. In
raising revenue, duties should be so lcv-
led upon foreign products ms to preserve
the homo market. 10 far az possible, to
our own producers. to revive and In.
cr, ase manufactures; Ia relieve ana
encourage agriculture. to Increase our
dumuslic aud foreign commerce; to aid
and develop mining and bIllldinE: and
20 render tho labor ~ every field OF use
ful ucrupatlon liberal wages aud Rde-
Guntc rewards to which skin and indus
try are Justly entitled.
The necessity Of the passage nf II tar
m IaE which shall provide ample rcvc-
me need not be further urged. Tho I'M.
p"rativc demand Of the hour IA the
prompt enactment Of such n
measure. and 10 this object | earnest
Is recommend that Congress- shall make
very endeHvOr Before other business
,s transacted lot us first provide SUM-
Client revenue TO faithfully admlnlBtcr
the government without the contract.
ing NJ further debt. or the continued
disturbance OF our finances,
WILLIAM MCKINLEY.