The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-02-10

Forced to Issue More Bonds
Great Expenditures Caused By the
War-Statement of Revenues.
Washington, Feb. 9.-Chairman Can
non OF the appropriations committee of
the house, in the course Of general de-
bate on the sundry civil bill today.
sounded a note of warning against sx-
travaSant appropriations, and partic- b
ularly served notice that neither the
snip subsidy bill nor the Nicaragua ca.
nal Dill could be passed at this session.
Although he specifically disclaimedi
speaking for anyone but himself. the
statements ne made, coming from the
chairman OF the appropriations commit
tee, caused great interest. Mr.. Cannon
made d statement of the expenditures
and revenues for the presnt hscaI year.
increasing Secretary Cages estimate OF
the deficiency in the revenues from,
1l2,OOOOO to $159, ,000, 900, exclusive Of
the S2O,OOO,OOO to be paid to Spain under
the provisions of the treaty of Paris.
MI. GroSVenor of Ohio, Mr.. Hepburn
OF Iowa and Mr.. Smith OF Michigan.
although they did not enter into any
lengthy discussion, took issues with Mr..
Cannon, but ne maintained that our
revenues might be sufficient to meet
our expenditures for the next two years
II needless expenditures were not en-
tered into. He indicates that it would
be close margin, and that new ex-
pendltures might mean a bond issue.
Mr.. CannOn'S speech was in every Way
notable one, and doubtless will fur
nlsh the text for a good deal of discus
sion during the Tarn9in6ars - he
SION
The house went into Committee Of the
whole, with M. Sherman of New York
in the chair, and took up the considera-
ton of the sundry civil appropriation
bill.
Mr.. Cannon (Rep, ILL, in charge of
the measure, made a. general analysis
of what it contained. 1t carries S62,-
92S,1 101, but $2O,0000 600 is for payment to
Spain to carry out the provision of the
Paris treaty. Exclusive OF that, the bill
carries $S,095, 75S less than the esti-
mates and $5,S29, 81 less. than the cur
rent law.
CONDITION OF REVENUES.
In connection with the bill, Mr. Can
non made a general statement as to
the conditions OF the revenues. The
secretary of the treasury, in October
last, Mr.. Cannon said, had estimated
the deficiency Of the revenues for the
fiscal year ending July 1, 1899, to be
$112,O0O,O0O, or a monthly average OF
s., ,33S, 000 In his judgment, in the light
of the receipts and expenditures for the
first seven months thus estimated. the
deficiency was much TOO low. The ac-
tual deficiency up to Feb. 1. 1899, was
S93, ,101, 600, an average of $l3,307, 900 per
month. AT this rate, the deficiency Of
the fiscal year would be S159, ,000, 600. But
this would no include 000
provided by the bill TO carry out the
provisions Of the Paris treaty. The
cash balance in the treasury on Feb. I,
including the S100, 900 900 in gold reserve,
was $274, 900, 600. Two hundred millions
of that had been put into the revenues
by the war loan. Deducting the MONTH
ly estimated deficiency tor the next
five months, there would, he said, be
in the treasury on July 1, $20S, 900, 900.
This was a conservative estimate.
There would be, therefore, $10S, 900
to meet the ordinary expenses OF the
government on that dat. These figures,
he continued. took no account of the
sinking fund. To care for it would re-
quire 500, COO 900 additional.
As Mr. Cannon proceeded the most
intense interest was manifested in his
The secretary of the treas
ury estimated the expenditures for the
next fiscal year, exclusive of the sink
ing fund, he said, at S641, 90, and the
revenues at $50, 100000, or a deficiency
of $S1. 200, 900. Yet, Mr.. Cannon contin-
ued. Secretary Gage could not possibly
have foreseen in his estimates for 1900
the changed conditions which followed
the negotiatiOn of the peace treaty,
the expenditures which necessarily fol-
low our occupation of the Philippines,
and the obligations which we assumed
in the peace treaty to discharge the
T.1N TaA h.
already reached SIS, 10000
Neither did the secretary's estimate, ne
said. take into consideration the in
crease of the navy. 1t estimated only
for the ordinary maintenance of the
navy. But the naval committee would
report in it's bill provision from from
twelve TO fifteen battleshipS and cruiS-
ers. He did not complain. 1t was a
logical sequence. The army must be
increased. 1t was, therefore, the part
of wisdom and common prudence to
fullv realize the conditions which con-
frOnted us
with these enormous expenditures
1pon US, Mr.. Cannon said, We must
plant our footsteps with care, and to
see that no dollar goes out OF the
treasury except for an efficient pub
ic service.
MARK HANNA SUBSIDIES
'eDo you take into account in your
interrupted Mr.. Dockery
Dem, MOI, ''the Hanna-Payne sub
sidy bill?'
Mr.. Cannon replied that he did not
include in his calculation Of deficien-
W of SIS. 600, 600 either the legislation
'or an efficient merchant marine or
he construction of the Nicaragua ca
1aI. He favored the regeneration OF
ne merchant marine Republican ap-
,Iausel and the construction of the Me
ara guam canal. Republican applause).
.But." he added, with great emphasis,
T am not willing to enter upon either
# these great enterprises until we
nave given them full and proper con-
;ideration. and we have provided the
.evenue to meet these expenditures.
INSIST that there shall go hand in hand
with legislation for these projects the
egislation necessary to provide the
.evenues to meet their cost"
.Does the gentleman mean," inter-
,osed Mr. Carmack (Dem., Tenn),
that owing to the responsibility we