Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1904-09-14
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATIONS.
How the Public Debt Was Managed
When Democracy Was In Power and
How the National Finances We're
Conserved Later by Republicans.

NOAAS~A 49, AfahGA Gy
When Grover Cleveland began the first
fiscal year, July ], 1893, of his second
term. our public debt was 81 345, 100000;
when the fourth fiscal year closed. June
30, 1897, it was $1,S1T 100000. an in
crease of $272, 0Oo,Oo0, without anything
to show for it.
When Benjaasin Harrison began his
first fiscal year, July /, 1889, our public
debt was $1,619,000,0 900; when his fourth
fiscal year ended, June 80, 1893. it was
81 ,5i1, 0O0,0 decrease of $T4,00O-
600.
When we add Cleveland's increase Of
S272 100000 in the public debt to Harri-
sons decrease of $74,000,000, we have
bill of indictment amounting to 1916
100000 against TIE Democratic party as
result of -four years more of Grover"
When Benjamin Harrison began his
first fiscal year, July ], 1880, he found
SGl3 10000 cash in the public treasury
when he closed his fourth fiscal year.
June 80, 1898, the cash balance was
ST07 100000. an increase of $64, oo00 900,
without selling any bonds to increase the
public debt
When Grover Cleveland began his first
second-term fiscal year, July i, 1898, he
found $707, 100000 cash in the public
treasury; when he closed his fourth fiscal
year of that second term, June 81 1897,
he left only 1891, 000,00 of cash bal
ance, though in the meantime he had sold
enough bonds for cash TO increase the
public debt by $272, 600, 900; consequently
he really decreased the treasury cash by
$3.50. 100000, being the S272000,000
bonds sold less the Sl34, 100000 differ
ence between the $S31, 100000 and the
S107 100000 cash balance
When benjamin Harrison began his
first fiscal year, July l. 1899, the net
public debt-that is, the entire debt less
the cash in the treasury-was S9T5O0O,-
600; when he closed his fourth fiscal
year. June 80, 1893, it. was only $685.
100000, a decrease of $137, 100000 as
the result of four Republican years.
When Grover Cleveland began the first
fiscal year of his disastrous second term.
July ], 1898, the net public debt was
1898 100000; when he closed the fourth
fiscal year. June 80, 1897, it was $685.,
100000, an increase of S14S000,0OO, as
the result of four Democratic years.
When we add Harrison's decrease of
$137 100000 in the net public debt to
Cleveland's increase of $14S, 100000 in
the same, we have another S2S5, 100000
bill of indictment against the Demo
cratic party for only four years of finan-
tiai nisruit.
When William Mckinley began the
first fiscal year of his first term, July /,
1891 he found only 1891, 100000 in the
public treasury; when he closed his
fourth fiscal year, June 80, 1902, the
treasury cash balance was $109S,0 00,-
600 an increase of $2G7 ,ooo0N0 as the
result of four Republican years of pro
lection to American industries and finan-
cial ability. And this was in spite of the
fact that 1910, 100000 had been paid out
for the cost of the Spanish war for the
freedom of Cuba.
When we add McKinley's increase of
S267. 100000 treasury cash to Cleyeland's
real decrease of $13S. 100000 in the same,
we have $405 100000 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 Roosevelts first fiscal year be-
gan, July /, 1901, the treasury cash bal
ance was $1,09S, 100000; when he closed,
his third fiscal year, June 80 1904, it had
increased to $1,3S2, 100000, an increase
of $2S4, 100000, Notwithstanding that all
the Spanish war taxes had not been
abolished. but $50tUe,0 600 had been paid
out for the Panama canal property and
rights; and that S3.000,000 had been
given. and nearly $5,000,000 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 /, 1893, to the close of Roosevelt's
third fiscal year, June 80 1904, we have
! the following:
| Cleveland's loss in treas
ury cash .....,........ Sl3S,000,UOO
| McKinley's gain in treas
ury cash ........... 2OI ,OOO,oOO
Roosevelt's gain in treas
ury cash . 2S4,000,O00
| Paid cost Spanish war. 34O,OOO,0O0
Paid Spain for Philip
pines ..........-... 2U,OOO,UOO
| Paid account Panama
canal ................ oO,OOO,obo
| Gift and loan Louisiana
| Purchase Exposition 100000
! Total ................. 81. l09,OOO,UOo
Eleven hundred and nine millions of
dollars betterment less fortyeight mill
/ ions increase in our interest bearing debt
| between July 1. 1897, and June 30, 1901.
| leaving che thousand and siXty-one mill
| ions tS1 .O61 000,O0O to the credit of
seven years of Republican control of our
| national finances.
WALTER ]. BALLARD.
| Schenectady, Aug. %.
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