Omaha daily bee., 1916-04-06
Democratic Bookkeeping


speech In the Mouss Of Esprsssntauvsh
Mr. Chairman When a great political party inIl
dycss q Imposing tsocO00 In taxes ana pre-.
ssnts II for immediate passage without affording any
opportunity for correcting im conceded injustice ana
lmperfeetions u becomes the duty of the leaders "
that party n frankly confess that emergency exists
which brooks no delay and 10 frankly and clearly set
forth tho condition " the national fnapces The gen"
uensn from North Carolina fMf Kitcbin). the dis
tingvIsbed leader Of the majority, has accepted this
duty and has performed II on his part; but the I'D
miDIstr9ton, whose announcements have been herr
aided abroad ~ the press, not only has refused 70
admit ne eKatsnce of the emergency but hss
fully concealed The condition Of the treasury and the
gentleman from Tennessee (Mr, Hun, who has Just
spoken, hiss followed the administration regardless II
whore II isd him.
on The second day Of the session the president Of
The United Htates addressed congress the condition
Of The state u the union IN general and, other
things On the condition and state Of the treasury II
had been announced beforehand that he would recon-
mend e1lefEemenis of The army and navy which
would enormously increase our annual expenditures.
These expenditures had IN The last fiscal year heavily
cEeeaded The receipts and the balance In the treasury
continued 70 shrink ~ each day vent by ] hoped,
therefore that when the president called upon
gfess " furnish additional revenue that full and
accurate statement ~ the condition Of the treasury
and N the demands which we're likely 10 bs rGgde
upon n would be ast forth IN ha message knew, ~
courSe TINT IN these 81 shnnkage IN revenues
spd Increase ~ deficits the Inevitable attributes OF
democratic administration such statement would b.
what h1fuiailng and anything but pleasant read
Ing for the American people Appieuae on the re-.
publican s1sJ
For Dgseif. wished ~ lesfn lpartc0aty how and
who're The president had discovered ibst IN June W
9st thsfs balance IN the treasury 0f Iioii7o-
l@is On tint dste had Feceiysd . st0t1fment, is-
eued w. he Treasury department slafng that the
balance vas fsz1zJ.1G13 Ths difference OF tlsyco00
While Il may aosH IN comparison with sonns
0thef changes thOlugbt worth looking after IN
interest ~ he public A. this point recalled that
the aoeretefY NJ he TREASURY had recently given the
press statement III which the conditions of the
treasury sss SCI forth IN glowing coiors You may
remember that this statement WAS published IN the
beNHpapefs and that n not only Represented that
there VIA nov barge balance ON hand, but also that
fbsrs would be he comfortable surplus of EslDo.00
IN Tho treasury a. the md ~ the fiscal yesr ~ 1915
he present taaes wefe continued. A. This statement
appears ~ b. the upon which the president based
he figures used IN his message and II repeated IN
the fsport 81 the secretary Of treasury becomes
necessary 70 anayre n
a IL not often tbat one can Introduce flavor ~
romance into cold figures but Mr. BeAdoo has done
w. dAughief5 The statement 81 The condition o.
our aAtOnai finances which he gave 20 the press n
me ~ the most interesting OF the recent works ~
fiction although probably not one Of the best sellers
uAughteft After examining II, WAS irfesistibiy
reminded o. one Of the famous characters IN Dlckens
works-Mr. Meewber. IN the novel David Copper.
bTafed maxim Annual Income en- annual expenses
1is ". result happiness; annual income en-, annual
expenses GO W. result rnisery"~-an expression Pc
ouiisrig adapted 70 the condition ~ the national
treasury under the present democratic regime. But
NJ Mcawber optimls and, like the Score
tary Of the treasury present deficits did not occupy
his mind much visions Of a large surplus in the
future Dickens famous character has often been
considered an es0agefati0n but Mr. Micawbers Pc
eplinf chafseferisios portrayed In the statement
~ The secretary N The treasury Let ~ what the
real faeie are witb reference the condition of the
treasury, and compare them with the statement N
Mr. McAdoo and the outline presented BY the pfesi-
dents message
One June Of iasi year The balance in the treasury
less than Uat0D0o, according to the daily STATE.
ment Al thai time nearly ED1o000 OF the resources
~ The treasury consisted ~ subsidiary silver Bnd
other minor coins u obvious that N the gov
eminent vas called upon 70 meet lte demand obga.
lions II would have 10 dip Into this fund of nlckes
dimes quarters. and forth and the balance IN the
treasury began 20 look Ike thirty cents indeed
nanghteri