The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1904-09-16
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATIONS.
How tho Public Debt Was Managed
When Democracy Was in Power and
How the National Finances Were
Conserved Later by Republicans.

When Democracy Was in Power and
How the National Finances Were
Conserved Later by Republican,.
When Grover Cleveland began the first
fiscal year, July 1, 1893, of his second
term, our public debt was S1.345, 100000:
when the fourth fiscal year closed, June
so, 1897. it was $1,S17,ouo,ooo an in
crease of S272,0Oo,00o. without anything
10 show for it.
When Benjamin Harrison began his
first fiscal year, July /. 1889, u public
debt was $1,619, 100000; when his tourth
fiscal year ended. June so, 1898, it was
Sl.a4a,0o0,oO0 a decrease of $14,00O.-
GQ0.
When we add Cleveland's increase of
S2,2,oo,o0o i'll the public debt to Harri-
sons decrease of S74.0oo.Qo we have
Il bill OF Indictment amounting to S3l6,-
100000 against the Democratic party as
Il result of -four years more of Grover"
When Benjamin Harrison began his
first fiscal Year. July /. 1889. he found
S6i3,oo,000 cash in the public treasury:
when he closed his fourth fiscal year.
June so, 1898, the cash balance was
SIoi 100000, an increase of S64. 00O, 900.
without selling any bonds TO increase the
public debt.
When Grover Cleveland began his first
.seeond-term fiscal year, July ], 1898, he
found 500. 100000 cash in the public
treasury; when he closed his fourth fiscal
Year of that second term, June 80, 1897,
he left only 1881, 100000 of a cash bal
ance, though in the meantime he had sold
enough bonds for cash TO increase the
public debt by S272,0O0,0 600; consequently
he really decreased the treasury cash by
Sl3o,0oo,o0O. being the ST., ooo. 900
bonds sold less the S134.o00.o0o differ
ence between the 1891. GOO. 900 aud the
500. 600, 600 cash balance.
When Benjamin Harrison began his
first fiscal year. July /. 1889, the net
public debt-that is. the entire debt less
the cash in the treasury-was S9I5,Ooo,-
GOO; when he closed his fourth fiscal
100000. a decrease of $13T. 900, OtU as
the result OF four Republican years.
When Grover Cleveland began the first
fiscal year of his disastrous second term,
July j. 1898, the net public debt was
sS3S,00o,Co0; when he closed the fourth
fiscal year, June 80, 1897. it was $685.
100000, an increase of S14S. 900. 900, as
the result of four Democratic years.
When we add Harrison's decrease of
S~l3I.ooO,oUO i'll the net public debt to
Cleveland's increase of S~14S.000,O0O in
the same, we have another S2S5. 5000
bill of indictment against the Demo-
cratic party for only four years of tinan-
cial misrule.
When William Mckinley began the
first fiscal year of his first term. July /,
1897, he found only 1891, 100000 in the
public treasury; when he closed his
fourth fiscal year, June 30. 1902. the
treasury cash balance was $1.O9S.0 OO,-
o0o. an increase of S267, 900 as the
result of four Republican years of pro-
lection to American industries and fnan-
cial ability. And this was in spite of the
fact that $34O,0OO,0OO had been paid out
for the cost of the Spanish war for the
freedom of Cuba.
When we add McKinley's increase of
S26T,0O0,G GOO treasury cash to Cleveland's
real decrease of $13S. 100000 in the same,
we have S405, 900. 600 plus the Spanish
war expense, as the true gain to the
country of four years of Republican pros
perity Immediately following four years
of Democratic adversely.
When Roosevelt's first fiscal year be-
gan, July !, 1901. the treasury cash bal
ance was S1,O9S, 10000 when he closed
his third fiscal year, June 80, 1904, it had
increased to S1,3S2.0 900, 900. an increase
of S2S4,000,00O, Notwithstanding that all
the Spanish war taxes had not been
abolished, but $50.000,000 had been paid
out for the Panama canal property and
rights; and that 100000 had been
given, and nearly S5,000.000 more loaned
to the Louisiana Purchase Exposition.
When we summarize the treasury cash
transactions from the beginning of
Cleveland's second-term first fiscal year,
July ]. 1898, to the close of R%oosevelt's
third fiscal year, June 80, 1904, we have
the following:
Cleveland's loss in treas
nry cash .............. S13S. 600, 600
MclAinley's gain in treas
ury cash ............ 2G7, 900. 600
Roosevelt gain in treas
ury cash .............. 2s4. 900. 900
Paid cost Spanish war;. 100000 900
Paid Spain for Philip
pines 2o.000,0oO
Paid account Panama
canal 5O,O0o,o 900
Gift and loan Louisiana
Purchase Exposition >. 100000
Total 81. 1O9. 900, 900
Eleven hundred and nine millions of
dollars betterment less forty-eight mill
ions increase if our interest-bearing debt
between July /, 1897, and June 80, 1904.
leaving one thousand and sixty-one mill
ions $i,O61.000.00O) to the credit of
seven years of Republican control Of our
national finances.
WALTER ]. BALLARD.
Schenectady, Aug. %.
SLY OLD DAVID.
Unique Position Now Occupied by