Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1898-08-13
McKINLEY's FIRST FISCAL YEAR.
Splendid Record of Statesmansh1p and
Wise Legislation.

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From the Chicago Inter-Ocean.
One of the first acts of President
Mckinley was to call special session
of Congress to consider the Tariff
question. Under the Mckinley Tar
if law there was surplus in the
treasury The revenues for the fiscal
year ending June 80, 1892, exceeded
the expenditures by s9.9I4,453. Dur
ing the four years of Harrison's adj
ministration the public debt was re-
duced $3.50, 076, $50. and the annual in
terest charge decreased 81, 6S4, 80
The Democrats passed the Wilson
Tariff bill, and for the fiscal year end
ing June 30, 1894, there was a deficit
in the treasury of 500, 500, 260. There
was a deficit of s42, sos, 223 in 1895, and
of s25, 203, 2i5 in 1896. The total de-
ficiency for the three years and eight
months ending March 1, 1897, was
1886, O61, $50. In the meantime the
public debt had been increased $780,
315. 400, and the annual interest
charge 81, 1894
This was the condition when the
Republicans came into power. Con-
gress met in extraordinary session
March 10, 1897, and in accordance
with the Presidents recommends
tion proceeded to revise the tariff on
Republican principles. The result
was the Dingley Tariff law, and the
effect soon became noticeable. In the
first nine months of the present fiscal
year exports increased $4,000, 900 over
the corresponding period of the pre-
vious year. In the same nine months
there was heavy decrease in manu-
ports over imports in May was s56,-
$50, 359, and for the eleven months of
the fiscal year S571, sS9, O37. Under the
Cleveland administration there was a
heavy outgo of gold. Under the Nc
Kinley administration the net i'm
ports of gold in eleven months are
S102, 026, 9S9, the largest in the history
of the country.
The first nine months of the Ding
ley law had put the country and the
treasury in such condition that we
were ready for war when it came Be-
fore the declaration of war Congress
put $50. 100000 at the command of the
President A new revenue bill was
passed as war measure, with d
clause providing for the issue of $780,
100000 3 per cent bonds. Offers were
received for more than three times
the amount. Nothing could better
illustrate the feeling of the people in
this war than their eagernesS to buy
the new government bonds.
Under ordinary rule war disturbs or
paralYZes business, In our own case
the steady improvement in business
inaugurated under the Ding1ew law
has continued in spite of war. No
branch of trade has been disturbed,
and in many departments of business
and industry there is increased activ-
ity. In agriculture the outlook is
more encouraging than it has been
for ten years. We have sent abroad
in the last year 1O.O5S,20S bushels of
wheat and 204, 900, 600 bushels of corn.
the most of it sold at good prices.
The wheat crop of the current year
promises to be larger by loo, GOO. 900
bushels than that of last. With
products and manufactures going
abroad at good prices, with gold COM
ing in and good crops in prospect, the
country is in good condi tion, thanks
to Republican legislation, to carry the
war to speedy and successful conclu-
sion.