The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1915-12-07
President !. D
Wilson'S
Message.
CONTINUED from page q

people OF Porto RICO were submitted
to the Sixty third congress- They will
DO submitted also to you. ! need not
particularize their details. You are
most OF you already familiar with
them. But do recommend them to
ycur carly adoption with the sincere
conviction that there are few measures
You could adopt which would more
serviceably clear tie way for the great
policies by which we wish TO make
good, now and always, outright to lead
in enterprises Of peace and good will
and economic and political. freedom.
The plans for the armed forces OF,
the nation which I have outlined and
I for the general policy Of adequate prep.
aration for mobilization and defense
Involve. Of course, very large addition.
al expenditures Of money. expenditures
which will considerab bly, exceed the es-
tjmated revenues OF the government.
} II Is made my duty by law whenever
tho estimates OF expenditure exceed
the estimates OF revenue to call the
attention Of the congress to the fact
md suggest any mems OF meeting the
( deficiency that it may be wise or pos.
sible for me 70 suggest. | am ready
to believe that q would be my duty to
do SO In any case, and i feel particu.
larry bound TO speak Of the matter
when II appears thai. the deficiency will
arise directly out OF the adoption by
ttie congress 81. measures which I my.
self urge II toiadopt ALLOW. me there!
fore to speak briefly % the present
state OF The treasury and OF the fiscal
! problems which the next year will
probably disclose.
On tie 3oth OF June last there was
! an available balance In the general
: fund of the Treasury OF s104.170.1o5.IS
The total estimated receipts for the
year 1916, on the assumption that the
emergency revenue measure passed By
1.-the last congress will not be extended
beyond It's present. limit. the 31st Of
: December. 1918. and that the present
duty of 1 centi ferl pound On sugar will
he discontinued after 3 he LIST OF May!
1910. viii be ssiID .3ttjs.jtO Tile balance
of June last aud these estimated rev.
enues conc therefore toia grand total
OF sasi. ,Gpa'sIIs The total estimated
disbursements fur The present. fiscal
year. Including twenty-five millions for
, the Psintni,l ssiisll. twelve millions for
'ro'ialic tlelieieney ainrnlirialions and
tS'ftd'A frr miscellaneous debt rrdeml,.
Tins wtII 10 SII:isSS l.t,tNi.E and tic bal
uiise NJ t:.e gefcE,l gfInlfof the treas
ury viii he reduced 40 So0.tii4. ta)a,7S
The eiiiefg:epry rpxenllr act II contin
ned heSond its present, lime Limitation
-''so,i'd prs,dute during the half year
then remaining allput forty.unc mil.
4 ions The duty OF y cent per pound
Z on sussir N continLird would produce
dSrigs the two mouths of Tie fiscal
( Year remalnins after the list OF May
about fifteen millI6nS: These two sums.
amounting together; "a tifty-six mil.
, Hons. IL added 60 he revenues Of the
second half OF the fiscal year WORLD
, Yield the treasury az The end Of he
year an ayailahle bnlance. of S7f.G44..
s6o5.1s Il r
/, The additional revenues required to
scarry out the lprosr,lm OF military and
naval preparatipn of which have
. spoken would as at present estimpted.
7 be for the dscal year 11lI S93. 100000.
Those figures taken with the figures
for the present fiscal year which i
;have already given disclose our inan.
cial problem for the year 1911 As
shining that the taxes Imposed by the
-emergenty revenue net I and the pres.
ept duty OIL sugar are 10 he discontin-
Z ued and that the balance at the close
scf the present fiscal year viii be only
aSe0S44, 605.Ts, that the disbursements
for the Pahama canal will Sagain BIO
iabout S250N00 700 aud that the add.
stional expenditures for the army and
navy are authorized by the congress,
the deficit In the general fund Of Sthe
TREASURY on the soth Of june, 1911,
viii be nearly S235, coo, 600. TO this
sum at least $50, 900 600 should be add.
ed to represent q safe working balance
for the treasury md Is IL, coo, 900 to III.
clude the usual dell Cheney estimates in
1911. and these adj itionsI would make
a total dedcIt o. some 500, 100000! II Il
the present taxes should be. continued
throughout this year and the next,
however, there would be a balance III
the treasury OF some T6,50o 900 at at
the end of the present fiscal year and
a deficit at the end ofsthe. next year Of
only some $50 900. 900, or reckoning in
SG2,oooO0o for deficiency appropria.
lions and safe treasury balance at
the end of the year, a total deficit Of
some s1i20o0000. The obvious moral
of the figures Is that is q plain .coun-
sell of prudence to continue al on the
present taxes or their equivalents and
condne ourselves TO the problem Of
providing $4,000 900 OF new revenue
rather than SOD, 900 600. !3s q 4 a
How shall we obtain the new rev:
epues We are frequently reminded
that there are many millions OF bonds
which the treasury s. uthorized under
existing law to sell to reimburse the
sums paid out Of current revenues for
the construction OF the Panama, canal.
and 1t is true that bonds for the
amount Of SEQ, 900 are now avail!
able for that purpose. Prior to! 1913,
s1ss,ooo' 900 of these bonds had ac.s