Evening star., 1899-02-10
NEED T0>GO SLOW
Condition Of Our Finances Described
to the HOUSE.
y :. 90.
STATEMENT BY CHAIRMAN CANNON
Cannot Make -Lmgg and Unusual
AppfoprisstiPns,
SHIP CANAL AND SUBSIDIES
TEMENT BY CHAIRMAN CANNON
SHIP CANAL AND SUBSIDIES

An interesting and important statement
Of the condition, present and prospective,
of the nations finances was made by Chair
man Cannon of the appropriations commit
tee in the House of Representatives yes
terday afternoon.
Soon after 3 o'clock the House went into
committee Of the whole (Mr. Sherman of
New York in the chair, and took up the
consideration of the sundry civil appropria-
ton bill. Mr.. Cannon In charge of the
measure, made a general analysis of what
it contained
1t carries s6202s, 101. but $40 coo 600 is for
payment to Spain to carry out the provi-
sicns Of the Paris treaty. Exclusive of
that the bill carries IS, ,O95. 1853 less than the
estimates and S., ,929311 less than the cur
rent law.
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 2,O00, 900,
or monthly average of 50, ,333, 600. 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 actual deficiency up to Feb
ruary l, 1899. was sos, ISL, 600, an average
of $13, ,307 600 a month. At this rate the de-
ficiency for the fiscal year would be $780,
OO0000. But this would not include the
$20.G00,000 provided by the bill to carry out
the provisions Of the Paris treaty.
The cash balance in the treasury Febrl-
ary 1. including the 500. 100000 gold re-
serve was s274, 4,000, 900. Two hundred mil
lion Of that had been put into the revenues
| by the loan. Deducting the monthly
estimated deficiency for the next five
months there would he said be in the
| treasury July l 2OS.0OO,OO0. This was a
| conservative estimate. There would be.
| therefore, $10S, ,O0O,0 600 to meet the ordinary
| eLDenSeS of the government that lpta
| These figures, he continued, took no ac-
| count of the sinking fund To care for it
would require so3. 900 additional.
| As Mr.. Cannon proceeded the most in
| tense interest was manifested in his state
| nent.
| The Secretary of the Treasury estimated
the expenditures for the next fiscal year.
| exclusive Of the sinking fund. he said at
$641 ,0O0,000, and the revenues, 1o,OO0, 900.
| or deficiency of S31, 100000
Need to Go Ahead With Care.
| Yet, Mr.. Cannon continued, Secretary
| Gage could not possibly have foreseen in
his estimates for 1900 the changed condi-
tions which followed ehe Negotiation of the
| peace treaty, the expenditures which neces-
sarily follow our occupation of the Philip
pines and the obligatIoN which we as
sumed in the peace treaty to discharge the
derstood. already reached $25 900. 900.
| Neither did the Secretary's estimate he
said. take into consideration the increase of
| the navy. 1t estimated .ronly for the or
| dinary maintenance Of the navy. But the
| naval committee would report in its bull
| provision for from twelve to fifteen new
| battle ships and cruisers. 'fIe did not COM
plain. 1t was logical sequence. The
army must also be increased. 1t was there
| fore. the part of wisdBm and common pru-
| dence to fully realize the condition which
confronts US With these enormous expen-
| ditures upon us. said Mr!nCannon we must
| plant our footsteps with care and to see
| that no dollar goes out OF the treasury ex-
| cept for an efficient public service
| DO you take into account in your esti-i
| mate interrupted Mr Dockery (Mo), "the
| Hanna-Payne subsidy bil?"
| Mr.. Cannon replied that he did not in
clude in his calculation of a deficiency of
$159 ,00o.0 900 either the legislation for an ef-
| hcient merchant marine or the construction
or the Nicaragua canal. He favored the
regeneration of the merchant marine IRE
publican applause and the construction of
| the Nicaragua canal Republican applause).
| But, he added, with great emphasis, Il
| am not willing to enter upon either of these
| vast enterprises until we have given them
| full and proper consideration, and until
| have provided the revenue to meet these
| expenditures. l insist that there shall go
| hand In hand with legislation for these
projects the legislation necessary to pro-
vide the revenues to meet their cost.
Does the gentleman mean" interpoSed
| Mr.. Carmack (Tenn) .J"that owing to the
responsibilities We have assumed abroad we
| must spend less money at home?'
| Mr. Cannon replied that nothing he had
| said could be distorted into such a state
ment But he gave it as his opinion that
| the United States would never again spend
| less than was spent-in the year prior to the
| war with Spain He did not stand in his
! place seeking to cripple an efficient public
service for a great and growing popula-
| ton, but he was opposed. to entering upon
new lines of expenditure until there had
| been full consideration and real debate, and
| not then unless there was already on the
| statute books revenue legislation to meet
| the expenditures"
No Time to Consider the Canal.
Mr.. Cannon proceeded to point out that
all the tina for the remaining three weeks
Of the session would be occupied and that
there would be no time to give these meas
| ures the intelligent and proper considera-
ton thsy should have.
The whole House was aroused by the
statement. Mr.. Grosvenor (Oho) wanted to
know whether Mr.. Cannon assumed that
| one Of the great committees of the House
Qhe interstate and foreign commerce COM
mittee) had been idle or derelict in its
duty. 1t was prepared to enlighten the
House on the subject of the canal.
Mr.. Cannon insisted that nothing he had
said reflected upon that committee. But it
was simply an organ of the House. He was
not charging it with dereliction, but If it
could multiply itself tenfold in strength and
W!SQom tnere was no time in the next
three weeks for it to place itself in touch
with the members SO that the House could
intelligently determine the legislation nee
essary for the Inauguration of that great
work.
Mr.. Hepburn, chairman of the committee
on interstate and foreign commerce, asked
Mr.. Cannon to be more explicit. Coming
from him. statement meant great deal.
He demanded to know whether Mr. Cannon
was to be understood as saying that no cp-
! portunity was to be given for the consider
alton of the Nicaragua cahal bill.
Mr.. Cannon disclaimad kdny purpose of
speaking for any one but himself II am
but one member" SAID, he. Il speak only
of myself I voice onlyItny, own opinion. I
do not rshect the sentiment CT others, but
do say candidly. upon my own RESPONSE
bility. that 1t is absolutely impossible in
the time remaining fofi lis to intelligen.y
consider either Of these Bits"
At the same time Mr., Cannon professed
his friendship for thu canal project. ard
aroused enthusiasm as he. spoke Of the
future time when the United States would
construct the canal upon a zone of terri
| tory owned by the United States from ths