Democratic Sentinel, Volume 19, Number 25, Rensselaer, Jasper County, 28 June 1895 — Page 1 Advertisements Column 7 [ADVERTISEMENT]

In 1889, when President Harris son entered upon his term of office as President there was a surplus in the treasury amounting to up*» ward of $300,000,000. Nearly all this vast sum was in gold, and the credit of the government was higher than it had ever been before. The revenues were redundant and the debts were paid as fast as the holders of the obligations would su. render tl em. One year later s he McKinley law was enacted. It increased taxes enormously and reduced the revenues. The result was sd attack ou the treasury reserve, not interest bearing debts, but to meat current expenses. The amount dwindled from week to week until it was exhausted. Then a sacred trust fund was oovered in ancTbefore the expiras tion « f the term even that fund, amounting to $64,000,000, disappeared . The country was on the verge of bankruptcy. The Sect etary of the Treasury, Charles Foster, appealed to the banks just like au exhausted spendthrift resorts to the pawnbroker, and the oonsequence was au alarm that led to tne panio. When the Harrison admioistration ended its term of office the country was bankrupt. The revenues were inadequate to meet thb current expenses of the govern» ment, and with an empty Treasury there werß obligations due amounting to more than #60,000,000. The foreign holders of|| all kinds of Amenoan securities demanded liquidation, whioh caused a depreoieiatiun in values and resulted in the panio. The inauguration of Cleveland checked the disaster for a time, but iu the absence of ma teriai it was impossible to stay it permanently. The consequences was that hard times oame and run their course. The repeal of the MoKinley law restored confidence, and prosperity has come again to reward the patienoe and effort of the dull period —Kansas City Times.

Eloquence of Figures. Republican papers that have worked themselves into a state of of mind over a probable deficit of •47,000,000 for ne government fiscal year ending on June 80—that being the first fraction of a year under the Wilson law—are conveniently deaf, dumb and blind to the faci that for the preceding fiscal year -1 hat being the last year of the MoKinley law—the deficiency was over $70,000,000. For the information of the republican papers of Pittsburg we annex the statement of governmsnt finances for tVe fiscal year ending June 30, 1894. Expenditures $367,746,867 Revenues 297,722,019 -t Deficiency $70,024,848 Th i custom revenue this year, being th? last fiscal vear under the McKinley law, compared with the customs revenues under the last year of the preceding tariff of’ 83 stands as follows: Fiscal year 1890, under tariff of|’B3 $229,668,586 Irisoal year ’94, under McKinley tariff.... 131,818,531 Decrease of revenues under McKinley law, $97,860,054 It is our duty to make frequent presentation iu one form or another of these figures, but tbey fail to awaken a response trom our republican neighbors, who continue to harp on the probatle deficiency tor the cun cut year, ten months of which is under the Wilson tariff. Yet tne deficiency, big as it is wdl fall over $20,000,000 behind the deficiency under the last year of tne McKinley law. This points to cne irresistable conclusion, and that is, K the|Mc« Kinley law had been in operation the whole of the current fiscal year, the deficiency would have been probably double what it is likely to te under the Wilson law. -Phil adelphia Record.

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