Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-02-10
Problem Confronts the Treasury
Regarding Nations Income.
FUNDS ARE RUNNING BEHIND
deficiency In the Revenues for the
Present Fiscal Year Aggregate
the Total OF sI5o,O0o,O0O.


bate on the sundry civil bill today.
sounded note OF warning against ox-
,favagant appropriations. and partic-
uiariy served notice that neither the
thlp subsidy bill nor the Nicaragua ca
nal bill could be passed at this session:
Although he specifically disclnimed
speaking for anyone. but himself. the
statement he made. coming from the
chairman OF the appropriation commits
tee, caused great Interest. Mr.. cannon
made a statement Of the expenditures
and revenues for the present iiHcal year.
Increasing Secretary Cages estimate
Of the deficiency IN the revenues from
giig.oOO, 900 to $50 100000. exclusive OF
The SO. 900 TO be paid spain under
the provisions OF the treaty OF Paris.
Mr. Groavenor OF Ohio. MIR. Hepburn
Of Iowa and Mr.. Smith Of Michigan.
although they did not enter Into any
lengthy discussion. took issues with Mr.
Cannon. but he maintained that our
revenues might be sufficient to meet
our expenditures for the next two years
II needless expenditures were not en-.
tered into. lie Indicated that II would
be a close margin. and that now ex-
penditures might mean bond Issue.
sir. Cnnnon's speech was In every way
n notable one, and doubtless VIII fur-
niah the text for n good deal OF uis-
eussion during the remainder OF the
The House went into committee OF
the whole. with Mr.. sherman OF New
York In the chair. and took up the con-
ridcrntion OF the uundry civil appro-
prlntion bill.
MIR Cannon ulcp. III. In charge OF
the measure. made a general nnnlynm
OF what II contained II carries f0s,-
a.s,i0i. but ts0O00.O00 IL for payment
TO Spain 60 carry out the provisions OF
the Paris treaty. Exclusive OF that the
bill carries ts.0es.1ss less than the -.
Inmates and tj.ps9,3ii less than the eur'
rent law.
STATEMENT OF REVENUES.
In connection with the bill Mr.. Cam
non made a general statement az 20
the condition OF the revenues. The
secretary OF the treasury. In october
last Mr.. Cannon said. had estimated
the deficiency Of the revenues for the
fscnl year ending July I. 1899. TO be
sii2.000.0O0, or a monthly average OF
so.Sas.Ooo. In his judgment. In the HIGHT
OF the receipts and expenditures for the
first seven months thus estimated. the
deficiency war much too low. The ac-
tual deficiency up to Feb. ]. 1899. was
sgg ili, 900 an average OF ti3.1Oi 900 per
month At this rate. the deficiency OF
the fiscal year would be ti59, 900. Iiut
this would not include the f2O.vO0,Ooo
provided Ia the bill TO carry out the
cash balance In the treasury on Feb ].
included the 500 600, 900 In gold reserve.
was ts5to0o, 900. Two hundred millions
OF that had been put Into the revenues
by the war loan. Dcducting the month.
~ estimated deficiency for the next
nyc months. there would, he said, be
IN the treasury on July lst 'sos.oooVoo'
This was conservative estimate.
There would be. therefore. tios.OOpooo
TO meet the ordinary expenses OF the
government ON that date. These figures.
he continued. took no account OF the
sinking fund. To care for II would re-
auirc tS3.OOo.0oo additional,
As Mr. Cannon proceeded the most
intense interest was manifested In his
statement. The secretary of the treas
ury estimated the expenditures for the
next fiscal year. exclusive OF the sink
ms fund. he naid. at S6ii. 100000, and the
revenues at tGlo.00o,o00, or deficiency
Of s3i. 100000. Yet. Mr.. Cannon contln-
ued. Secretary Gage could not possibly
have forcrcen IN his estimates for 1900
the changed conditions which followed
the negotiations 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
claims against Spain, which claims. he
understood. already reached y2h,0OO.o0o.
Neither did the accrctnry's estimate he
said, take into consideration the ln-
crease OF the navy. II estimated only
for the ordinary maintenance OF the
navy hut the naval committee would
report In It's bill provisions from from
twelve 10 fifteen battleehips and cruis-
erS. He did not complain. II was
logical sequence. The army must be
Increased. II was, therefore, the part
~ wisdom and common prudence to
fully realize the conditions which con-
ffonted us.
with these enormous expenditures
upon us, Mr.. Cannon said, We must
plant our footsteps with care. and to
treasury except for an efficient pub
lie service.
ItANNA-PAYNE SUBSIDIES.
DO you take Into account In your
estimate" interrupted Mr. Dockcry
lnem,, MOI. "the Hanna-Payne sub
tidy bill3"
Mr., Cannon replied that he did not
Include In his calculation % deiicien-
cy OF $4,000 900 either the legislation
Tor nm efficient merchant marine or
the construction OF the Nicaragua ca
nal, lie favored the regeneration OF
the merchant marine 1lopublican APP
plnusc) ana the construction OF the ME-
nrngunn canal. uicpubllcan npplause).
but he added. with great emphasis.
uHn NOT WillnH TO enter upon 'ltHNF
OF these great enterprises until we
have given them full ana proper con-
Nieration, and we have provided the
revenue 10 meet those expenditures. I
insist that there shall 30 hand In hand
WIN legislation for these projects tho
legislation necessary to provide the
revenues 10 meet their cost"
Does tho gentleman mean" inter-
posed Mr.. carmack Dom, TENN.
mat owing to the responsibility we
nave assumed abroad. we must spend
Tess money at homer"
Mr., Cannon replied that nothing he
mad said could be distorted into such
s'htement. but he gave II ns his opin-
ION That the United States would never
again spend less than was spent In
me year prior 60 the war with Spain.
ne did not stand In his place Heekng
20 cripple an efficient public service
ior a great and growing population,
nht ne was opposed to entering upon
new lines Of expenditure until There
Tug been full consideration and real
u.bate, and not then. unless there was
areany ON the statute books revenue
legislation TO meet the expenditures"
,Mr' Cannon proceeded TO point out
,nht all the time for tn three remain-
w weeks OF the session would be oc-
supied, and there would be no time 10
hNe these measures the Intelligent and
rT,oper consideration they should have.
statement.
QUESTION OF TIME.
lrmar, urosvenor tRep., o. wanted to