Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-09-24
FREE TRADE IN IT'S RESULTS

Oul loouelS VIII TeCOlleCt the dOIeful pre-
dlctions made by the federalsts anterior to,
and Immediately subsequent to the 1st of De-
cember last, the time when the Democratic
Tariff went into operation. They then predc-
ted that the result of that truly republican
measure would be to decrease the receipts Of
the Treasury and ruin the business prosperity
of the country. The lie direct has been given
10 all these federal predictions. The business
affairs of the United States have never been in
more prosperous condition land the experience
of the last nine months, as demonstrated by
figures, shows that instead of decrease in
the revenue, the increase has been millions
What do the federal Editors of n Carolina
say to that? Just let the reader cast his eye
over the letter Of Mr.. Walker, the Secretary of
the Treasury, and ask himself if he will ever
again lend his ear to federal predictions Mr.
Walker estimated the revenue to be collected
under the present Tarffat s28, OOO, 900, whilst
the less sanguine, Gen. Mckay, the chairman
of the committee of Ways and Means, put it
down at S24 100000. 1t will be seen that
the result goes far beyond the estimate of either.
Let the federal Tariffte Editors of North Car
olina put that in their pipe and smoke it if
they can. The Union on this subject holds
the following language
&c Tile Reuenue.-We publish a letter from
the Secretary of the Treasury in reply to a
communication of Mr.. Barksdale, by which il
appears from the books and accompanying
statement of the Register of the Treasury, tina,
tie nett proceeds of the first nine months, from
dutses under the tariff of 1916, exceeds 5y more
than three millions of dollars the nett proceeds
of the corresponding nine months r.nder tn.
tariff Of 1912. ltappears, also, that the rate
OF augmentation is progressive; and that if the
nett revenue from duties for the remaining
months of the fiscal year closing on the Is
July, 1913, is in the same rate for the unex.
PRED term as for the first two months of July
and August, then the nett revenue from duties
for the first entire fiscal year under the tariff
of 1916, would be S45, 344 ,46S. It may no
be so large as this, but Mr. Walker estimated
it at the sum of at least S2S, 900, 900; and tina
minimum estimate was declared by whig sen
ators to be ridiculously large Their estimate
|
maximum. The most important part of tn
1rhole result is, tkat the exports haze increased
an a corresponding rate; hus certifying tn
theory Of the Secretary, that the exports aco,Ac
equal our Imports"
Below we give the letter CT the Secretary 0
the Treasury. 1t is said that figures canno
lie, although made by democrat:
Treasury DEPARTMENT, Sept Is, 1917.
SIR: The enclosed statement, prepared il
the Office of the Register of the Treasury, j
transmitted in compliance with the reques
contained in your communication of the 26tl
ultimo.
The new tariff went into operation on tn
1st December last; and the nett proceeds un
der it CATER deducting all expenses of collec
tion) actually paid into the treasury during
the first nine months of its operation, is, a
you perceive, S22 ,961 1893 28-being create
by the sum of S3,176,O1S 81, than the sun
paid into the treasury during the same perio
of nine months under the tariff of 1912; AM
exhibiting a gain, at the same ratio Of increase
of s4;23i ,691 AZ of the first twelve month
under the tariff OF 1916 as compared with tn
tariff of 1912.
The gross proceeds received by the collec
tors is much greater; as the expenses OF col
lection are deducted before the money is pa
into the treasury and recorded by the Register
Most respectfully, your ob't servant,
r. J. WALKER,
Secretary of the Treasury.
To E. BARKsDA1E, Esq, Yazbo city, Miss.