The herald-advance. (Milbank, S.D.) 1890-1922, 1904-09-16
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATIONS.
How the Public Debt Was Mauaged
When Democracy Was in Power and
How the National Finance were
Conserved Later by Republicans

Conserved Later by Republicans.
When Grover Cleveland began the first
fiscal year, July 1. 1893, of his second
term, our public debt was $1.345, 600, 600;
when the fourth fiscal year closed, June
30. 1897. it was $1,817, OOO,O 600, an in
crease of $272,O OO, 600, without anything
to show fer it.
When benjamin Harrison began his
first fiscal year, July /, 1889. our public
debt was 81, 619,OOO,OO 0 when his fourth
fiscal year ended, June 80, 1893. it was
Sl,54o,OOO,OOO, a decrease of $4,000
600.
When we add Cleveland's increase OF
$272,OOO.OOO in the public debt to Harri-
sons decrease of $74, 600. 600, we have
a bill of indictment amounting to $780,
100000 against the Democratic party as
a result Of -four years more of Grover
When Benjamin Harrison began his
first fiscal year. July /, 1889. he found
q 3,00,OO0 cash in the public treasury;
when he closed his fourth fiscal year.
June 80, 1893, the cash balance was
SIo1 100000, an increase Of $64. 900, 900.
without selling any bonds to increase the
public debt.
When Grover Cleveland began his first
second-term fiscal year. July ], 1893, he
found $1O7, 100000 cash in the public
treasury: when he closed his fourth fiscal
year of that second term. June 80, 1897.
he left only 1881 600. 600 of a cash bal
ance. though in the meantime he had sold
enough bonds for cash to increase the
public debt by $272, 100000; consequently
he really decreased the treasury cash by
$50. 100000. being the 272.OOO,OO
bonds sold less the 1874 100000 differ
ence between the 1881 100000 and the
S1O1 100000 cash balance.
When Benjamin Harrison began his
first fiscal year, July 1, 1889, the net
public debt-that is. the entire debt less
the cash in the treasury-was S915,0oO.-
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 l, 1893, the net public debt was
SS3S, 100000; when he closed the fourth
fiscal year, June 80, 1897, it was 1885,
100000, an increase of $14S.OOO.OO 600, az
the result of four Democratic years.
When we add Harrison's decrease of
$131. 100000 in the net public debt to
Cleveland's increase of $14S.OOOVW in
the same, we have another $3.50, 100000
bill Of Indictment against the Demo
cratic party for only four years of hnan-
cial misrule.
When William Mckinley began the
first fiscal year Of his first term. July 1,
1897, he found only 1881, 100000 in the
public treasury; when he closed his
fourth fiscal year, June 30, 1902, the
treasury cash balance was $1,O9S .O0O,-
0OO. 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 $780, 600. 900 had been paid out
for the cost of the Spanish war for the
freedom of Cuba.
When we add McKinley's increase of
S261. 100000 treasury cash to Cleveland's
real decrease of S13S, 100000 in the same.
we have $4O5, OOO,OO Q 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 81 ,O9S, OOO,O 600: when he closed
his third fiscal year, June 80, 1904. it had
increased to 1882. 600, 900, an increase
of 1854. 100000, notwithstanding that all
the Spanish war taxes had not been
abolished. but $5O.OOO,OOO had been paid
out for the Panama canal property and
rights; and that $5,OOO.OOO had been
given, and nearly $5,OOO,OOO more loaned
to the Louisiana Purchase Exposition.
When we summarize the treasury cash
E-- H.
Cleveland's ~second-term first fiscal year,
July /, 1893, to the close Of Roosevelt's
third fiscal year, June 80, 1904, we nave
the following:
Cleveland's loss in treas
ury cash ............. $~1oS,UOO.UUO
Mckinley's gain in treas
ury caSn ..............
Roosevelt's gain in treas
ury cash ............ 2S4, OOO, 900
Paid cost Spanish war;. 34O,OO0.OOO
Paid Spain for Philip
plneS ~2U,VUU,UOU
Paid account Panama
canal CO,UUO.UUO
Gift and loan Louisiana
Purchase Exposition -. 100000
Total 81, Jos, 600, 900
EloVou uuHuicu anu ulDc JHIIlIOHS III
dollars betterment less forty-eight mill
ions increase in our interest-bearing debt
between July ], 1897, and June 80, 1904,
leaving one thousand and sixtyone mill
ions Isl ,O61 100000 to the credit of
seven years Of Republican control Of our
national finances.
WALTER J.. BALLARD.
Schenectady, Aug. 25.