Milford chronicle., 1904-09-16
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATIONS.
How the Public Debt Was. MauaRea
When Democracy Was in Power ana
How the National Finances were
Conserved Later by Republicans


When Grover Cleveland began the first
fiscal year. July l, 1893, OF his second
term. our public debt was Sl,S45, ,OOO,OVV'
when the fourth fiscal year closed, June
80. 1897. it was Ssh 100000, an IN
crease Of S272, 100000, without anything
to show for it.
When Benjamin Harrison began his
first fiscal year, July I, 1889 our puDhc
debt was S1,619,OO0OO0; when his fourth
fiscal year ended, June 80, 1898 It was
81. .545, 100000, a decrease Of Sf4'OOO'-
600.
When we add Cleveland's increase OF
S272, 100000 in the public debt 10 Harrl-
sons decrease Of S74,000O00, we have
bill OF indictment amounting to S3l6'-
100000 against the Democratic party as
a result Of flour years more Of Grover.
When Benjamin Harrison began his
first fiscal year, July !, 1889 he found
SG43, 10000 cash in the public treasury
when he closed his fourth fiscal year.
June 80 1893, the cash balance was
| S7O7, 100000, an increase Of S64 OOO,OOO'
without selling any bonds to increase the
public debt
When Grover Cleveland began his first
second-term fiscal year, July ], 1893. he
found S707 100000 cash in the public
| treasury; when he closed bis fourth fiscal
ear Of that second term. June 80, 1891
he left only SS31, 100000 Of a cash bal
ance, though in the meantime he had sold
enough bonds for cash to increase the
public debt by S272, 100000; consequently
he really decreased the treasury cash by
S13OOOO,OOO. being the S272,OOOOOO
bonds sold less the S134,000,00O differ
ence between the SS31 100000 and the
S7O7 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 S975OOO,-
Goo when he closed his fourth fiscal
year. June go 1898, il was only $685.
100000, a decrease of Sl37, 100000 as
the result of four Republican years.
When Grover Cleveland began the first
fiscal year Of his disastrous second term.
July I. 1893. the net public debt was
SS3S,0O0OO0; when be closed the fourth
fiscal year. June 80 1897, it was 1885,
100000, an increase of Sl4S,0O0,OOO, as
the result Of four Democratic years.
When we add Harrison's decrease OF
$137 OOO,OO0 in the net public debt TO
Cleveland's increase Of $14S000,0O0 in |
the same, we have another S2S5, 100000 |
bill of indictment against the Demo |
cratic party for only four years of tnan- |
cial misrule.
When William Mckinley began the |
first fiscal year Of his first term, July !, |
1897, he found only SS31, 100000 in the |
public treasury; when he closed his |
fourth fiscal year. June 80, 1902, the |
treasury cash balance was S1,O9S,0OO, |
600, an increase of S267 100000 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 S34O.0O0,00O 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 Cleveland's
real decrease Of $13S. 100000 in the same,
we have $405,000,0OO 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, tine treasury cash bal
ance was S1,O9S, 100000: when he closed
his third fiscal year, June 30. 1904. it had
to $1,3s2 100000. an increase
Of $2S4000OO0. notwithstanding that all
the Spanish war taxes had not been
abolished. but Sj0O0000O had been paid
OUT for the Panama canal property and
rights and that S5.OO0OO0 had been
given. and nearly S5,O6O,0OO more loaned
TO the Louisiana Purchase Exposition.
When we summarize the treasury cash
from the beginning Of
Neveland's second-term first fiscal year.
July 1, 1893, to the close Of Roosevelt's
third fiscal year, June 80, 1904, we have
he following:
Cleyeland's loss in treas
ury cash ......-...... S13S,000, 900
McKinley's gain in treas
ury cash .......... 26IOOO,OOO
gain in treas
ury cash ............. 2s4,OOOOOO
Paid cost Spanish war. 340OO0,OO0
Paid Spain for Philip
pines ........... 100000
Paid account Panama
canal ............... 100000
Sift and loan Louisiana
Purchase Exposition -. 100000
Total ..............S1,1O0. 100000
Eleven huu1ra1 and nj r,,;11;or- |