New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-27
FROM NO BOND PROCEEDS.
WHENCE THE DEFENCE FUND COMES.
rRrAs,-RrR ROBERTS TELLS THE REPUBLICAN
Cl5.1 OF THE FINANCIAL CONDITION
OF THE GOVERNMENT IN
CASE OF MAE.
CASE or WAR.

Patriotic sentiment was the dominant feature OF
s,Nscrir, ~, dinner he'd last night n; the Repub-
ucan Club Chauncey NJ Depew. the president OF
thc club presided and in HIS opening remarks after
,he dinner ne eulocizcl the policy OF President Nc
Hirlev. ani said that the people Of this country
uero aooroachlng a g-ca; crisis. and that the next
Few DAYS woul settle the issue for war or for
ne,ce The spir., Of the gathering was strikingly
,r,o5ss,zca during Nj Depew's speech Speaking
q. nc tension which now existed between this
~ and Spain ne in;imated that the President would
go guide Affairs that there would be war. when
Alexander Caldwell one ot the diners jumped from
rs sea, and exclaimed: Provided only tina; TWO
hyndrc5 ana fifty American boys were rot sent 70
her deaths hy Spanish trcachcry II that
he n-oved am willing 70 sink my business in the
cause and devote mysCN to the vengeance OF those
who were blown Up in the Maine"
Ellis H. Roberts. United States Treasurer.
The principal speaker Of the evening He devoted
his address 10 the financial aspect Of the possible
war with Spain. and among other things said:
TIE contrast the financial situation. under the
last Administration and that OF President McKin-
ley IS most striking and most encouraging. From
he very inauguration OF Nj. Cleveland deficits
troried the Treasury. The sale Of bonds followed
s Ss-e sod amounting 10 HooC6co '' in Ho1ebSr
iSei another sale Of $5o0O0.Co made; then came
snalv in February o. 1886 tho issue in open mar
ss Of s,ooo"opo After all this Increase OF in
SehtNdress wiki failing revenues and chronic de-
Nets March 4 lss7 found the Treasury with
NsllnCc OF S-ll9o6s6>, and gold reserve OF
l@F5s. me dehclts In revenues continued al
though hope returned. as the ordinary receipts
were 10Y me fiscal year ending June 80, 1897 S2o,-
nv MarcA !. 1898. the figures show a steady In
crease In ordinary receipts since July /. and are
Sl6os.727. or 81 6ees4i greater than for the like
period last year. But the advance has been
promise fg-r@n, R~eness Fl was not 0 strange hen
Ira; when the demand came for preparations Tor
IN the minds of thoughtful mon was: Whence can
come ne money? Congress with one voice voted
s. r,sN FOR TIE emergency. and the Treasury Will
pa- Z, without borrowing or adding a cent TO the
taxes More man that To pay This vast sum
ceeis OF Mr. Clevelands loans: The full sum is
n the Treasury. put there by the shrewd manage
uer. OF this Administration IN the matter OF the
pacIsc railroads The last Administration had
favored ss,eea viii the In,9n Pacific GomP. my
osrsaa at I'm pr:nop2l and in'eresi aggregaiin ing
he added 81 2e ca for the Kansas PACIFIC. Union
Pacific bonds have been redeemed for N5.5l55l2.
Look at this ha!ance-sheet:
Received from Union Pacific Railroad SIS 4is 223 %
Rc,.iy-i nom kansas Pacinc..... eaoac %
rni,a Pacific bonds paid i55155l2 90
Balance Observation-Disclosures. $40 235 7os -
Without this nes,cgg one would care to vote
s1sn Toy ,axes Gould not bring money at once.
Previous loans did not provide resources adequate
.oy ss' svaiIeSe for the Tationa, defence be-
oause the revenues under the Dngley tariff and the
ronewa! Of general prosperity have come near %
meeting and are sure soon 10 cover the ordinary
expenditures.
The Rev. Or. Howard Duffield spoke next AMI
vigorously attacked the methods adopted by Spain
n Cuba The arrogance, brutality and cruelty that
had been employed by the Spanish Government in
tn endeavor 20 bring about the subJecuon OF
Cuha and which had resulted in the death OF 50
man inhabitants OF the island, received severe
condemnation from DR.. Duffield The bull-hghters,
he said ia burst Of elOquence. had become oaoy-
k!l.c-s and had out Heroded Hsrod e.
Edmund Wetmore and other speakers wIo iC'-
lowed smoke in a similar strain. Frequently the
members OF the club We're reused 20 the greatest
SEEKERS were Constantly interrupted by prolonged
cheering.