Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1904-09-14
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATOR
How the Public Debt Was Managed
When Democracy Was in Power and
How the National Finances Were
Conserved Later by Republicans.

Conserved Later by Republicans.
When Grover Cleveland began the first
fiscal year, July /, 1898, of his second
term, our public debt was S1,345, 900. 900;
when the fourth fiscal year closed. June
80, 1897, it was $1,S17, 100000, an in
crease of $272,OOO,OOO, without anything
to show for it,
When Benjamin Harrison began his
first fiscal year, July /, 1889, our public
debt was 81, 619 100000; when his fourth
fiscal year ended, June 80, 1893, it was
$1,545, 100000, a decrease Of STA ,OOO,-
OOO
When we add Cleveland's increase of
$272,OOO,OOO in the public debt to Harri-
sons decrease of $74,OOO,OO0, we have
bill of indictment amounting to $780,
100000 against the Democratic party as
result Of -four years more Of Grover"
When Benjamin Harrison began his
first fiscal year, July /, 1889, he found
SEAS, 100, 600 cash in the public trea sury
when he closed his fourth fiscal year,
June 30, 1893, the cash balance was
$7O7 100000 an increase Of $64,O0O,O00,
without selling any bonds to increase the
public debt.
When Grover Cleveland began his first
second-term fiscal year, July /, 1893, he
found $7O7 100000 cash in the public
treasury; when he closed his fourth fiscal
year of that second term, June 80, 1897,
he left only 1891, 100000 of "a cash bal
ance, though in the meantime he had sold
enough bonds for cash to increase the
public debt by $272, 200, 900; consequently
bo 1Iy n +ha oh 1o1y
$13O,O0O,OOO, being the $272,OOO,OOO
bonds sold less the 1874, 100000 differ
ence between the 1891, 100000 and the
$7O7, 100000 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 1919, O00-
600; when he closed his fourth fiscal
year, June 30, 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
1888 100000; when he closed the fourth
fiscal year, June 80, 1897, it was $685.
100000, an increase of 5000, 900, as
the result of four Democratic years.
When we add Harrison's decrease of
S137 100000 in the net public debt to
Cleveland's increase of S14S0O0,0OO in
the same, we have another $3.50, 600, 900
bill Of indictment against the Demo-
cratic party for only four years of fnan-
cial misrule.
When William Mckinley began the
first fiscal year of his first term, July l.
1897, he found only 1881, 100000 in the
public treasury when he closed his
fourth fiscal year, June 80, 1902, the
treasury cash balance was 81 ,O9S, 0OO,
900, an increase of $267 100000 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 $34O,00O,00O had been paid out
for the cost of the Spanish war for the
freedom of Cuba.
When we add McKlnley's increase of
$267 100000 treasury cash to C!eveland's
real decrease of S13S, 100000 in the same,
we have $405, 900 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.
Wien Roosevelt's first fiscal year be-
gan, July /, 1901, the treasury cash bal
ance was S1,09S, 100000; when he closed
his third fiscal year, June 80, 1904, it had
increased 20 $1,3S2, 100000, an increase
of $685. 100000 notwithstanding that all
the Spanish war taxes had not been
abolished, but $50,OO0O00 had been paid
out for. the Panama canal property and
rights; and that $5,0O0,O0O had been
given and nearly 100000 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 Roosevelt's
third fiscal year, June 80, 1904, we have
the following:
Cleveland's loss in treas
ury cash .............. S1oS,UOO, OOO
McKinley's gain in treas
ury cash 26I ,OOO,OOO
RooseveN's gain in treas
ury cash ........... 2S4,OOO,OOO
Paid cost Spanish war;. 34O,OOO,0OO
Paid Spain for Philip
pines ................. 100000 600
Paid account Panama
canal ............ 100000
Gift and loan Louisiana
Purchase Exposition -. 100000
Total .................$1,1 100, OOO,O
Eleven hundred and nine millions of
dollars betterment less forty-eight mill
ions increase in our interest bearing debt
between July 1, 1897, and June 80, 1904,
leaving one thousand and sixty-one mill
ions 1,O61 ,OOO.OOO) to the credit Of
seven years of Republican control of our
national finances.
WALTER J. BALLARD.
Schenectady, Aug. %.
SLY OLD DAVID.