The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-04-27
BACKBONE OF THE WAR
Ways and Means Committee
Report Is Submitted.
THE TREASURY CONDITION
The Expenses OF Preparation for the
War Are at b Rate OF 100000
600 Per Annum-Means
Must Be Provided.

Washington. April 26.-Chairman Ding
ley OF the ways and means committee
to-day submitted to the house with the
war revenue bill the following report:
The precipitation Of a war with Spain
has rendered IT necessary to Immediate
ly provide ways and means to meet war
expenditures on the scale demanded by
modern naval and military operations.
Such an unwelcome demand on our re-
sources comes at a time when, under
the workings of the tariff act of July
"a, 1897, we had begun to overcome in
a large measure the injurious effect of
anticipatory importations. and had al
ready received in the months Of Febru-
airy and March revenue more than three
millions in excess of ordinary peace ex-
pe~nditures for these months (four mil
lions OF the expenditures appearing i'm
the March statement having been made
on account of the preparations for ma
tional defense. under authority of the
joint resolution Of March, 1889, and
that. too. with a large falling off of GUS
toms revenue the last ten days Of March
in consequence Of the disturbance of
trade arising from threatened war.
There is no doubt that il peaceful con-
ditions had continued the estimate of
the secretary OF the treasury that the
revenue for the next fiscal year would
reach 1890, 600. 900. exclusive of postal re-
ceipts, 500. 900. 900 In excess of the reve-
nue. for the fiscal year 1896. and more
than that sum In excess of what the
revenues for the next fiscal year, 1897,
would have been IL II had not been for
a~nticipatory importations in the last
four months Of the latter year, to avoid
the increased duties OF the new tariff,
would have been more than realized,
and these receipts would have fully met
the expenditures for the next fiscal yea
IL IL had not been for the in
crease caused by the difficulties with
Spain, inasmuch as the expenditures
for the fiscal year 1896. exclusive of
postal expenditures paid by postal rev.
enue. were only $685., 900. 900. and for the
fiscal year 1898 only $685.. O0O, 900.
These difficulties. even before val
conditions arose, had so stirred the pub
lie mind as to demand largely increased
appropriations for charging the navy
and for national defenses. The destruc-
ton of the United States battleship
Maine in the harbor of Havana on the
18th OF February last so aroused this
country that congress a few weeks after
realized the necessity of taking prompt
measures to prepare for any exigency,
and by joint resolution appropriated
HJU. OUO, OUV Tor ndt1Onal ueTense.
Upon the authority of this joint reso-
luton about 1856. 900. 900 of this appropria-
ton has already been practically used.
although payments have as yet been
made for n part OF this sum. and liza
bilities for the remainder of the appro-
priation which have been incurred with
In two weeks.
An examination of the condition of
the treasury will make it apparent that
-, fs,,a .HA,,Il Ia Lot, To- .rA.-slf,. 80
pie ways and means for carrying to a
successful conclusion the war in which
We are engaged"
The apparent cash balance i'm the
treasury when the joint resolution APP
propriating $50. 900. 900 for national de-
Tense was passed vas about 1925. 900. 900.
including the 500, 000, 900 gold redemp-
ton fund. or si25. 600, 900 excluding thai
fund. But this balance was only ap-
parent. inasmuch as $13. 900, 900 consist
ed of fractional silver, largely incur
rent. and minor coins, leaving only
s112. 900, 900. But of this amount sl4. 000.-
900 consisted OF receipts from the sale
of the Pacific railroad bonds. due Jan.
/ next. and 1913. 900, 900 of the bank re-
demption fun held for the payment OF
the notes of national failed and
In liquidation or reducing circulation.
Deducting these and the ac-
tual available cash in the treasury at
hiaN AtAi 'NipicihS w NV e'N'i
exclusive of the ~greenback redemption
fund, was only $65. 600, 900. Inasmuch as
a working balance of about $40. 000. 900
is required to properly carry on the
operations of the government. there re-
manned only $25, 900, 900 belonging TO the
government available in meeting the
$50. 600. 900 appropriation. 1t will be
necessary In order to meet all expendi-
lures under the $50. 900. 900 appropriation
ali of which will W been expended
within a few weeks-to use $25. 900. 900
OF the ban redemption fund. a part of
which must be replaced before the close
of the present calendar yea
"Inasmuch as the difficulties with
Spain have plunged the country into a
war whose ma gnitude and length can
not 10Y be i~ntelligently formed. it is
necessary hat measures should be i'm
mediately to provide means and
rays To carry on naval and military
operations on a scale and with a
promrtness which vii exert an import
ant influence I'm shortening the conflict.
AS the expenses of the preparations
for defense hat have been going on for
nearly two months are at the rate OF
S25. 900, 900 per month, or $500. 900, 900 per
annum. and the expenses OF actual war
will be much more, your committee are
OF the opinion that the necessities of
the country as well as the early sue
cess of the conclusion of the war, call
tof SuCn atnpic pTtN1Slpu, Dttn DN I'm
alton n authority to make loans for
means to carry on naval and military
operations. as will impress the great
powers of Europe as well as Spain with
the conviction that the people of the
United states are united in the deter
mination To prosecute the war on a
scale and with "A vigor that will make
p~rolongation of hostilities useless.
with this object in view. your COM
mittee recommends the eyying of in
ternal revenue taxes. either on articles
Of voluntary consumption or on oh
jects that will make such taxes fall
mainly on persons able to contribute
to the national defense. which will. i'm
the aggregate. yield from $50. 600. oo0
to sloo. 0oO.o 900 i'm additional to the pres
ent
The report then enumerates the diff
ferent articles to be taxed and the esti-
mates heretofore published. the amount
OF revenue TO be derived. and con-
tlnUpS.