The President has sent his first message to Congress. In it he says that he is very sorry to call an extra session of Congress, but he feels it his duty to do so, because he finds the money affairs of the country in a very bad condition, and thinks it is necessary for Congress to take some immediate steps to find a remedy.
It would seem that since June, 1893, the yearly, and even the monthly, expenses of the country have been greater than the receipts.
We all know what a statement of that sort means in our own homes and families. It means that bankruptcy is coming, unless something be done to prevent it. If a man spends more than he earns, he is obliged to borrow to make up the difference; and when he can no longer borrow, he has to fail and turn all he owns over to his creditors.