Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1904-09-16
SOME COMPARISONS
CONDITION or 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.

When Grover Cleveland began the first
fiscal year, July /, 1893, of his second
term, our public debt was 81 ,345. 900. go:
when the fourth fiscal year closed, June
80, 1897, 1t was $1.S17. 0D00o0, an in
crease of S272,O00.O0o, without anything
TO show for it.
When Benjamin Harrison began his
first fiscal year. July /, 1889. our public
debt was S1,6I9O00,OOO; when his fourth
fiscal year ended, June 30, 1893. it was
$1.545, 100000, decrease of $74,
900.
When we add Cleveland's increase OF
$2I2,OO0,0D0 in the public debt to Harri-
sons decrease of $74,OO0oO0 we have
bill OF indictment amounting to $780,
O0O,000 against the Democratic party as
result of four years more Of Grover"
When Benjamin Harrison began his
first fiscal year, July /, 1889, he found
S643, 10000 cash in the public treasury
when he closed his fourth fiscal year,
June 30, 1893, the cash balance was
SI07,000,0O0, an increase OF $64 600. 900.
without selling any bonds to increase the
public debt.
second-term fiscal year, July /, 1893, he
found $101 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 cash bal
ance though in the meantime he had sold
enough bonds for cash TO increase the
public debt by 1912, 900, 900; consequently
he really decreased the treasury cash by
S130,0O0,0OO, being the $272,OOO,OO
bonds sold less the $134.O0OO00 differ
ence between the 1891 100000 and the
$107, 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 1915, 00O,-
900; when he closed his fourth fiscal
year, June 80, 1898, it was only $685.
100000, 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 1, 1893, the net public debt was
$S3S 100000; when he closed the fourth
fiscal year, June 80, 1897, it was 1885,
100000, an increase of S14S,0O0 900, as
the result of four Democratic years.
When we add Harrison's decrease Of
$137, 100000 in the net public debt to
Cleyeland's increase of $14S, 100000 in
the same, we have another $285, 100000
bill of indictment against the Demo
cratic party for only four years of finan-
cial misrule.
When William Mckinley began the
first fiscal year OF his first term, July l,
1897, he found only 1891 100000 in the
lin fpn hn oil le
fourth fiscal year, June 30, 1902. the
treasury cash balance was $1,09S, 0OO,-
600, 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 $4,000. 900 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 $405,000.0O0 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 Rooseyelt's first fiscal year be-
gan, July 1, 1901. the treasury cash bal
ance was 81, 09S, 100000; when he closed
his third fiscal year June 30, 1904, it had
increased to $1,3S2. 100000, an increase
of S2S4. 000, 600, notwithstanding that all
the Spanish war taxes had not been
abolished. but $50,000,000 had been paid
out for the Panama canal property and
rights and that $5,000.000 had been
given, and nearly $5,000,0O0 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 so, 1904, we have
the following;
Cleveland's loss in treas
ury cash ........ Sl3S,OOO,O 900
McKinley's gain in treas
ury cash .......... 267,0OO, 900
Roosevelts gain in treas
ury cash .......... 2s4,oOO, 900
Paid cost Spanish war. 340,000,00
Paid Spain for Philip
pines ............... ZO,OOOOOO
Paid account Panama
canal ........... $4,000, 900
Gift and loan Louisiana
Purchase Exposition -. 100000
Total ACKNOWLEDGEMENTS 81, los, 100000
Eleven hundred and nine millions of
dollars betterment less forty-eight mill
ions increase in our Understanding debt
between July l. 1897, and June 80. 1904,
leaving one thousand and sixty-one mill
ions Isl ,061 100000 to the credit of
seven years of Republican control of our
national finances.
WALTER J. BALLARD.
Schenectady, Aug. 25.
SLY OLD DAVID.