The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1899-02-23
AN IMMENSE DEFICIT
CONGRESSMAN CANNON GIVES
NOTE OF WARNING,
SAYS Deficiency for the Year Will
Amount to SI57.ooo,ooo-
Debate in the House.


Debate in the House.
Washington, D. C.-(speciaL)-Chair-
man Cannon Of the appropriations COM
mittee of the house in the course of
general debate on the sundry civil bill,
sounded a note of warning against ex-
travagant appropriations and practi-
cally served notice that neither the ship
subsidy bill nor the Nicaragua canal
bill could be passed at this session.
Although he specifically disclaimed
speaking for any one but himself. the
statements he made, coming from the
chairman of the appropriations commit
tee, caused great interest.
Mr.. Cannon made a general state
ment Of the revenues and expenditures
for the present fiscal year, increasing
Secretary Cages estimates of the def
cheney in revenue from $112, 900 900 to
1857, 900 900. exclusive of the 1900. 900
to be paid to Spain under the provision
of the treaty of Paris.
Mr.. Grosvenor of Ohio, Mr.. Hepburn
of Iowa and Mr.. W. A. Smith of Mich
igan, although they did not enter into
any lengthy discussion, took issue with
Mr.. Cannon, and maintained that our
revenues might be sufficient to meet
our expenditures for the next two years
If no new lines of expenditure were en-
tered upon. But he indicated that it
would be a close margin and that new
expenditures might mean a bond issue.
Mr.. Cannons speech was in every
way a notable one and doubtless will
furnish the text for a good deal of dis
cussion during the remainder of the
session.
The general debate upon the sundry
civil bill was not concluded. Before
1t was taken up quite a number of
minor bills were passed by unanimous
consent.
CANNON TALKS OF DEFICITS.
At 2 o'clock the regular order was
demanded. The pending question COM
Ing over from yesterday was on the
passage of the bill appropriating SIPS,
900 for a public building at Altoona,
Pa. The bill was passed.
The Blair, Neb, public building bill.
the reading of an engrossed copy of
whicN was demanded yesterday, was
read whereupon Mr.. Dockery dem,
MOI moved to recommit 1t to the COM
mittee on public buildings and grounds
The motion was lost. 90 to 1OS. The
bill was passed, 1O4 to so.
The house then went into the commit
tee of the whole (Mr Sherman of New
York in the chair and took up the con-
sideration of the sundry civil appro-
priation bill.
Mr.. Cannon rep, Ill), in charge of
the measure. made a general analysis
Of what 1t contained. 1t carried s62 ,09S,-
POI, but 500. 900, 900 is for the payment to
Spain to carry out the provision of the
Paris treaty. Exclusive of that the bill
carries sS095, 75S less than the estimates
and $500, 81 less than the current law.
In connection with the bill Mr. Can
non made a general statement as to the
condition of the revenues. The secre-
tary of the treasury in October last,
Mr.. Cannon said had estimated the de-
iciency of the revenues for the fiscal
year ending July l, 1899, to be $112, 000.-
BOO, or monthly average of So, 1913, 0O0
In his judgment, in the light of the re-
ceipts and expenditures for the first
seven months thus estimated, the def
cheney was much too low.
ACTUAL DEFICIENCY.
The actual deficiency up to February
|, 1899. was 1913, IS, 900 and average of
N3, 307 600 per month. At this rate the
deficiency for the fiscal year would be
1859 100000. But this would include the
10000, 600 included in the bill to carry
out the provisions of the Paris treaty.
The cash balance in the treasury on
February /, including the 500, 900, 900
gold reserve, was $274, 100000. Two hun
bred millions of that had been put into
the revenues by the war loan. Deduct
ing the monthly estimated deficiency
tor the next five months there would,
be said, be in the treasury July l, $685.
100, 600. This was a conservative esti-
mate.
There would, therefore, be SOS, 900, 900
to meet the ordinary expenses of the
government on that date. These fig
Tres, he continued, took no account of
the sinking fund. To care for it would
require $5S, 900, 900 additional.
AS Mr.. Cannon proceeded the most in
tense interest was manifested in his
statement.
DEFICIENCY NEXT YEAR.
The secretary of the treasury esti
! mated the expenditures for the next ifs
, .al year, exclusive of the sinking fund
; ne said, at SEAL, 100000 and the reve
aues at s61O, 900, 900. OF a deficiency O
| i31, 900, 900.
9 Yet, Mr.. Cannon continued, Secretary
n Sage could not possibly have foreseer
Il his estimates for 1900 the changed
a conditions which followed the negotia
lion of the peace treaty, the expendi
lures which necessarily follow our oc
.upation of the PHILIPPINES and the OBJ
dgations which we assumed In tn,
peace treaty to discharge the peace
claims against Spain, which claims h,
understood already reached s25, O00, 900.
Neither did the secretary's estimate
be said, take into consideration the in
" :rease of the navy. 1t estimated onl!
l. Tor the ordinary maintenance Of tn
: aavy. But the naval committee will
4 report In its bill provision for from
$ Twelve to fifteen new battleships an,
cruisers.