The state herald., 1904-09-16
SOME COMPARISONS
CONDITION OF TREASURY UNDER
PREVIOUS ADMINISTRATIONS.
Hsw the Public Debt Was NanaEed
Whom Democracy Was In Power and
How the National Finances Were
Conserved Later by Republicans.

|
When Grover Cleveland began the frs,
fiscal year, July ]. 1893, of his second
term, our public debt was S1,345. .OO0, 900;
when the fourth fiscal year closed, June
30, 1897, It was $1,S17 100000, an In
crease Of $272, 100000. without anything
to show for it.
When Benjamin Harrison began his
first fiscal year, July /. 1880, our public
debt was S1,619, 900, 900; when his fourth
fiscal year ended, June 80. 1893 it was
H,545, 100000, u decrease Of $74,OOO,-
900.
When we add Ceveland's increase of
272,0OO,00O in the public debt to Harri-
sons decrease of $74,OO0,O00, 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 l, 1889. he found
SGi30O,000 cash in the public treasury;
when he closed his fourth fiscal year.
June 80, 1893, the cash balance was
EOI 100000, an increase Of S64 100000.
without selling any bonds to increase the
public debt.
When Grover Cleveland began his first
second-term fiscal year, July 1, 1898, he
found $T0T 100000 cash in the public
treasury; when he closed his fourth fiscal
year of that second term, June 80 1897,
he left only $S31. 100000 OF cash bal
ance, though in the meantime he had sold
enough bonds for cash to increase the
public debt by S272 900, 900: consequently
he really decreased the treasury cash by
| S130,O00,OOO, being the $272, 900, 900
bonds sold less the Sl34 100000 differ
ence between the SS3l 100000 and the
SI07 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 S9Io, o,O0O.-
900; when he closed his fourth fiscal
year, June 80. 1893, it was only $685.
100000, decrease of $l37 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
! SS3S, 100000; when he closed the fourth
{ fiscal year, June 80, 1897, it was $780,
100000, an increase of Sl4S,00O,0O0, as
/ the result of four Democratic years.
When We add uarrisons decrease of
Sl37 100000 in the net public debt to
Cleyeland's increase OF SliS,OO0.OOO in
the same, we have another S2SJ. 100000
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 SS3l,00O,OO0 in the
public treasury; when he closed his
fourth fiscal year, June 80, 1902, the
treasury cash balance was Sl,09S 600.
900, on increase of S2G7,OOO,000 as the
result of four Republican years of pro.
/ lection to American industries and finan.
cial ability. And this was In spite of thu
fact that S340, 100000 had been paid out
Tor the cost OF the Spanish war for the
freedom of Cuba.
When we add McKinley's increase OF
s2G7 900, 900 treasury cash to Clcvcland's
real decrease OF Sl3S 100000 in the same.
we have S405, ,o000o0 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.
bnce was Sl,O9s, 100000; when he closed
his third fiscal year. June 80, 1901. II had
Increased to Sl,3S2, 100000, an increase
of S2S4 100000. notwithstanding that all
The Spanish war taxes had not been
sbolished. but S50,O00,000 had been paid
out for the Panama canal property and
rights; and that S5,00o000 had been
given. and nearly S5,0O0,O00 more loaned
to the Louisiana Purchase Exposition.
When we summarize the treasury cash
transactions from the beginning of
| rleyeland's second-tcrm first fiscal year,
July !. 1893. to the close OF Roosevelt's
third fiscal year. June 30, 1904. we have
the following;
Clsyeland's loss In treas
ury cash .............. Sl3S,OoO.o0O
McKinley's gain in treas.
ury cash ............ 2s7.ooo.ooo
Rooserelt's gain In treas.
ury cash ..........,.. 2S4. 900 900
Paid cost Spanish war;. 3i0.00o.000
Paid Spain for Philip
pines ..............,. 100000
Paid account Panama
canal ..........,.,. 10000. 900
Gift and lnan Louisiana