The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1899-02-21
Two Great Measures th2lsMay
Pail 10 PaS
CANAL AND SHIPPING BILLS
Mr.. Cannon Cannot Fisurs Row
Money 10 to Be Had conster-
nation Over Difficulties.

the appropriation bill now undef col-
sideration was In some senses the
most remarkable pronouncement Of a
man in his position which has ever
been made in the House. He declared
that there was not time for a proper
consideration In the House Of either
tne canal or shipping bill, aud in the
case OF the latter he made his speech
more explicit, until II reached a stage
Of declaration from the ruling spirit
Of the lower body Of Congress.
Cannon said the finances OF the Ma
ton were in such shape, II the expen-
ditures OF tne year were made abnor-
maj by the taking up OF new projects,
that there would ne necessary an issue
of bonds, ~ the normal revenues OF
the Government could not sustain
hem
The effect upon the friends of the
canal was magical From the mo-
ment tie speaker said there was not
left OF the session time enough to take
up the bill, which. n is known, the
Committee on Commerce will report,
there was such a demonstration of the
temper Of Congress as could not be
misunderstood. From every side OF the
chamber there were questions which
showed that the men asking them were
anxious to vote upon the measure,
There Is still a chance In the Senate
stat the canal bill will be put as rider
apon the rivers and harbors bill.
In connection with the bill Cannon
made general statement as to the
condition of the revenues. The Secre-
tary OF the Treasury in October last,
Cannon said, had estimated the def
cheney OF the revenues for the fiscal
year ending July !, 1899, to be $l12,-
5000, or monthly average of So
$3.50. In his judgment, in the light
al the receipts and expenditures for
the nrst seven months thus estimated
the deficiency was much too low. The
actual deficiency mp to February /
1899, was $93, 15I 900, an average OF
s13,3O7.tyy per month. AT this rate the
deficiency for the fiscal year would be
sIo9v, 200. But uhis would not in
clude the s2O. O00.0 provided by the
bin TO carry out the provision of the
Paris treaty. The cash balance in the
Treasury ON February LIST, including
the sl0O, 900, 900 gold reserve, was STA
100000. Two hundred millions of that
mad been put into the revenues by the
year loan. Deducting the monthly esti-
mated deficiency for lac next FIVE
months there would, he said, be in
the Treasury July LIST, s2OS 900 900
This was conservative estimate
There would be, therefore, sos. 900, 900
TO meet the ordinary expenses OF the
Government on that date. These fig
ares, he continued, took no account
OF the sinking fund. To care for 1t
would require $4,000, 600 additional.
As Cannon proceeded the most in
tense interest was manifested in his
statement The Secretary of the Treas
ury estimated the expenditures for the
next fiscal year, exclusive Of the sink
ing fund, he said, at $64l 900, 900, and
the revenues at $GlO, 200, 900, or de-
hcieney OF s3l 100000. Yet, Cannon
continued, 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 neces-
sarily follow our occupation of the
Philippines and the obligations which
we assumed in the peace treaty to dis
charge the claims against Spain, which
claims, he understood, already reached
$25, 100000. Neither did the Secretary
estimate, he sa,,., take into consider
alton the increase of the Navy. 1t is
estimated only for the ordinary main
tenance OF the Navy. But the Naval
Committee would report in its full pro-
sion for from twelve 10 fifteen battle
'Ahlp0 anu ~ " y ulu HoN 'olh-
plain. 1t was logical sequence. The
Army must be increased. 1t was, there
tore, the part OF wisdom and common
prudence to fully realize the conditions
which confronted us.
DO YOU take into account in your
estimate interrupted Dockery Cd of
missouri, the Hanna-Payne subsidy
bile"
Cannon replied that ne did not in
elude in his calculation Of a deficiency
of $l5s'oOo,oOo either the legislation for
an efficient merchant marine or the
construction of the Nicaragua canal
lie favored the regeneration of the
merchant marine tRepublican an.
plause) and the construction of the
Nicaragua canal. Republican an
plause.)
But" he added with great emphasis