Rensselaer Republican, Volume 27, Number 34, Rensselaer, Jasper County, 30 April 1896 — HALF MILLION A DAY [ARTICLE+ILLUSTRATION]

HALF MILLION A DAY

THE PRESENT DEFICIT UNDER THE WILSON LAW. _ 1 '/ Democratic Financicrinc Is Plunging Uncle Sim Into Debt at the Rate of Over One Thousand Dollars a Minute—Facts for Farmers to Read. Revenues Still Short. Half a million dollars a day is a pretty large deficit. But this is.just what •the [Wilson law is doing at the present time. The first eleven days of April produced a, deficit of 50,084,803. Counting only the business days the dally deficit for was $600,000, or, to bo absolutely accurate, $608,480. Counting eight hours a day, for that Is the number of hours the government allows for a day’s work, Uncle Sam has been plunged into debt at the rate of $70,000 an hour, or over SI,OOO a minute all this month. This is an interesting state of affairs for the people who predicted twenty months ago that the proposed new' law would “do what your McKinley law has not done, produce sufficient revenue to meet the expenses.” It is interesting to see how those gentlemen have kept their word. It is now a little less than twenty months since the McKinley law was repealed and the Wilson law took its place. During that time the receipts

have been $490,612,095 and the expenditures $572,854,774, making the deficit up to the end of the last week $82,243,749. The receipts under the McKinley law In the first twenty months of its operation were $589,237,402, or a round $100,000,000 more than those of the Wilson law in the corresponding number of months. The expenditures were, In round numbers, $569,000,000, leaving a surplus of a little over $20,000,000. This is the way the comparison of the first twenty months appears: _ Wilson law, first 20 months, deficiency • .$82,248,794 McKinley law, first 20 months, deficiency:. ......, 20,287,402 Possibly some friends of the Wilson law may' assfitne. tlml 11 is unfair to compare the operations of the first twenty months of Its existence with the first twenty months of the AlcKinley law, when the country was in the flood tide of prosperity. They certainly will not object to comparing it with the last twenty months of the McKinley law, which include the period of extreme depression which followed Democratic success at the polls in 1592. Here are the-figures for the last twenty months of the McKinley law, compared with the first twenty months of the Wilson bill: Wilson law, receipts $490,018,025 McKinley law, receipts 560,-121,553 It was in the months which succeeded the meeting of the Fifty-third Congress, with its promise of tariff reduction, that the receipts of the treasury fell under the McKinley law’ to the lowest known point up to that time. In the course of the months of the meeting in special session of that Congress, what the -tariff would die, the importations fell to almost nothing and the receipts of the treasury to less than they had been known in a quarter of a century. Those memorable months of shortage under the McKinley law were from August, 1893, to May, 1894. Yet the receipts of the new tariff law’, with everything in its favor, are actually less in the twenty months of its existence than they were in the twenty worst months of the McKinley law. • Facts for Farmers. In the following tables the exports of farm products in the last fiscal year prior to the repeal of the McKinley law’ are compared with those of the first calendar year after its repeal. It will be seen that in many cases the exports fell off greatly in quantity, while vin cases where there was an increase In quantity there was a decrease in the cash received therefor: McKinley Wilson law’. law. i Fiscal Calendar year 1894. year 1895. Wheat, bu.. 88,415,230 66,804,686 Value .... $59,470,041 $40,898,547 Corn, bu.... 03,324,841 61,956,348 Value .. .. $30,211,154 $27,907,766 Cattle, No. . 331,722 289,350 Value.... $33,455,092 $26,997,709 Cheese, lbs.. 73,852,134 40,800,934 Value .... $7,180,232 $3,401,117 Tallow, lbs. . 54.661,524 24,377,177 Value ....- $2,766,104 $1,207,350 Clover seed, pounds . .. 45.418,663 12,412,276 Vallie .. .. $4,540,822 $1,126,618 Cotton seed meaj x lbs. . 617,104,402 504,022,501 Value .. 7. "$7,10§;i65 $4,352,348 Beef, 1b5.... 193.891,824 184,358,114 Value .... $16,606,583 $10,522,018 Spirits, graiu, gallons ... 6,468,016 1,884,272 Value .... $5,676,936 $1,685,460 Cotton, lbs. .2,653,282,325 2,770,832,486 Value .... $210,969,289 $189,890,645 Hops, lbs... 17,472,975 17,959,164 Value .... $3,844,232 $1,745,945 CoR on seed oil, gals... 14,958,309 21,763,649 Value .... $6,b08,405 $6,429,828 Flax seed „ meal, lbs.. 127,498,827 314,344,294

Value,... $2,845,459 $3,498,898 Bacon, Ids. . 410,057,577 455,380,851 Value $38,338,843 $37,411,914 'Lard. Ihs ... 447,060,8G7« / 517,309,470 Value..., $40,089,809 $37,348,753 ,Pork. 1b5.... 04,744,528 70,135,541 Value .... $5,159,808. $4,430,155 ~ ■ .■ ~— — - —— Will Vote for It in November. _ Tariff for revenue cry of the Democratic party In year s'past, is an utter Ailure as applied bi the existing administration. It has nht even been for revenue only, but an*approach so near to free trade that it not only failed and still fails to afford sufficient revhut . ha% torn down industries, closed factories and taken honest work from honest hands. In this latter respect it has been a success, but its success has been gained at the suffering of thousands of honorable, worthy and willing men and women all over the country. With the Republican party in power a tariff bill will be passed of which the country and the people will not be ashamed. It will not be one stamped with the seal of inefficiency, disgrace and destruction, but with the emblem of prosperity to the industries of the United States. It will be a tariff bill constructed on American ideas. —Tribune, South Bend, Ind. Those Sages in Wall Street. The wonderful economists who devote their mighty intellects to editing the trade and financial journals of New York City are all predicting good times upon the success of the recent bond is-

sue. They fail to explain precisely what they mean, but the assumption is that they think the deeper the government goes into debt and the heavier the interest burden imposed upon the people becomes, the more likely the country is to prosper. They may be right, but if they are it is a pity the fact that running into debt beats productiveness and thrift was not discovered long ago.— San Francisco Chronicle.

A Study for Wool Grower*. The lowest .price that meum Ohio wool ever sold at from ISSO so the end of Harrison’s administration was '. .... 33c. Under Cleveland the price is 18c. Value of sheep in 1893, under protection, was.. . ,t. .8125,909,264 Value to-day, under Cleveland and free trade 0G,085,707 Imports of woolen goods in 1894, under protection.... 10,809,000 Imports of woolen goods in 1895, under Democratic low tariff 57,559,000 Average imports of wool during 1891, ’92, ’93, ’94, under Republican protec- rounds. tion .. 133,647,000 Imports of wool in 1895, under Democratic free trade ...... 248,989,000 Average annual imports of shoddy, rags anu waste in 1891, ’92, ’93, ’94, under Republican protection.... 244,971 Imports of shoddy, rags and waste in 1895, under Dem-' ocratic free trade........ 20,718,000 X Rays on X Roads.