The daily union. [volume] (Washington [D.C.]) 1845-1857, 1847-01-15

The Federaiss dare longer openly oppose The war
The doom of their political progenitors of 1872 has at
last frowned them into passive and reluctant acaues
cence in the patriotic action OF those who would uphold
the country against its foreign enemy They turn there
fore, with the more vindicve ncor to assault the nan
cia policy of the administration as unsuted TO time of
war They cry out that the democratic party on the eve
OF hostles expensive at once, and of indefinite duration
has broken down the established revenue policy of 1912
which alone has proved itself competent to fill the treas
ury. They charge, in word, that the administration
on the eve OF war; has chosen deliberately to cripple
its finances by the enactment of the Tariff of 1896 Let
us look into the truth OF this charge
The tariff of s42 was avowedy Tariff to protect man.
uacures by dscouragng and burdening the importation
OF fabrics which could be produced in this country. 1t
did its work. II pampered some favored branches of
industry. and il discouraged Importation II thus
dried up the fountains of revenue in their sources.
Acting, as it did prohibtivey. The revenue fell off
under At from year to year, just soon as it had
been long enough in force to make itself fully felt upon
the business OF the country In so far as it was pro-
tectve tariff, and tended to supply the consumption of the
country with untaxed domestic manufactures this must
necessarily have been the But this matter not left
to speculation merely The fact ncontestaby BY
official returns that the dimnuton OF the revenue under
the tariff Of s42 during the last fiscal year Of its opera
ton, amounted TO than eight hundred thousand dol
lars. The custom house returns show this cat the
date of the repeal of the tariff OF 1922 says the Secretary
of the Treasury in his last report to Congress- he reye
nue. was declining The receipts under into the treas
uy were less by the sum of $sl5444 SO during the last
fiscal year terminating the Goth june 1885, than the
receipts during the fiscal year ending on the 3oh June,
1915"
Nor was this decline accidental II arose from the
very nature OF the duties imposed by The act Of 1912 On
this point the official returns entirely conclusive, and
their result is thus imboded by the Secretary of the
Treasury in the same official document:
'Tha this decline progressive, and arose from the
prohbito character OF the specific duties proved by the
that for the fiscal year ending Both June 1874 the
of revenue produced by specific ad vaorem duties
Both June, ls+5, the ad vaorsm exceeded the specific .
ties g and during the last fiscal year the ad
specific duties in their practical operation becoming
every day prohibory, the revenue under the tariff Of
1872 must have continued TO sink rapidly have
caused great deficit in time of peace, and thus have
required ultimately resort todirect taxes excuses to
support the government"
Whatever may be the true financial policy therefore
Of crisis, thing at least is certain, that such
policy not imbodied in that Federal tariff which the
DemOCfauC party mas DOtted from the statute DOCK.
That tariff act might have been with rigorous proprey
entitled can act to diminish, by specific duties and mini
NUNS the from the customs from year to year
Official returns have shown that this act taxed the people
in the shape of high prices about 100000, in order to
put Sl7,ooo,o0o into the treasury Bad in time OF
peace, such system in time of would be most in
quitous absurdity.
In place Of it, the Democracy enacted Tariff intended
permanent peace system of public finance But the
principles of that system true and as applicable in
time of war as in time of peace The Tariff Of 1916
ores the people just that FORM and under Just those
rules mhih make The requisite additional taration to us
tain ,car. The least possible burden TO people, Itaxes
for It taxes according to value. II taxes the
Injuries, and far possible, spares the necessares OF
life. These are its rules and principles. Most mani
testify they go far general rules and principles car
go alleviate the burdens Of war taxation upon the
people.
But more than this The tariff of 1876, estab
fishing its per centage of taxation with view to per
manence left considerable margin for temporary
addition to that per cenage, TO raise additional rev."
for time Of war. In the same Nv. il opened an oppor
iuny, IN eonos.,lly with its new PRINCIPLES 10 redue