The daily gazette., 1881-11-12
SECOND EDITION
NO CHANCE FOR TARIFF REvIs-
ION OR TAX REDUCTION.
How the Revenues are Mortgaged.
sA= ~ q WASHINGTON, Nov. 10, l.

How the Revenues are Mortgaged.
sA. - q WASHINGTON, Nov. 10. Z
Senator Sherman said that among the
Leading measures likely to engage the
attention of the next session of Congress
would be the revision of the tariff and
the reduction Of taxes. This remark
has attracted general attention here be-
cause of Nj. Sherman's recent position
as Secretary of the Treasury and his
former prominence as chairman of the
Senate Committee on Finance. II is
not believed, however, by Treasury Off
cials that Senator Sherman, in saying
that the revision of the tariff and reduc-
tion of taxes would be the leading meas
nres of the coming session. intends to be
understood as favoring either. The total
receipts for this fiscal year will hardly
be in excess OF tbose of the last fiscal
year, which, In round numbers, were
500, ,000,00 above The current expenses
of the government. OF this amount
over one-half bad to be applied to the
sinking fund, leaving surplus of abont
$50, 100000. or this amount the Com
missioner of Pensions already asks $780,
! 000, ,00O, 900 to cover deficiency in the
present fiscal year 8 disbursements, and
500, 600, 900 is the lowest estimate for
The neyt fiscal year.
The Commissioner of Pensions said
to-day it would be better for Congress
to make an Appropriation of $200, 600,
900 and increase the clerical force of the
bureau to such an extent that the ar
rears of pensions could be speedily set
tied, for then the annual appropriation
thereafter would not be more than $40,-
100000. 9s.-. .. .5 sl5-
"No one knows better than Senator
Sherman" said prominent Treasury
officer to day, ''that existing legislation
calls for every dollar that can be collec-
ted in the next two years, even assum-
ing that the years are exceptionally
prosperous as the last or the first four
months OF the present fiscal year. Either
the Pension Arrears law must be re-
pealed or the payment of claims delayed
if there is going to be a reduction OF
taxes or the revision of the tariff. The
Commissioner of Pensions Will ask Con-
gress to double his appropriation for
clerical hire to facilitate business. 1t is
now $500,000 and he wants $l,0Q0,000
for this purpose. What is the use to
SlVo Dlu all luCFedS6 Ol lOlC6 IL Iu6T6 ID
not an appropriation to pay the adjusted
claims,and will Congress stop the speedy
settlement of pension claims to discuss
the reduction Of revenue? The fact Is
that the payment of the amount due the
sinking fund and the sum to be paid
annually to pensioners for the next three
years will be 500, ,000, 900 over the cur
rent expenses on the basis of last years
And ffs faseepts $685.
600, 900. II Will be seen that owing to
the sum annually due the sinking fund,
which this year will be $43, ,000, 900, and
the amount needed to pay pension ar
rears, every dollar Of revenue that can
be collected under existing rates and
taxes is mortgaged till the end of this
administration
The opinion among republican Sena-
s tsfi that there ahff fs59 rs ATTEMPT at Tie
coming session of Congress to revise tbe
tariff, but that the plan proposed by MIR.
Eaton, of Connecticut, when Senator,
will be advocated. His measure pro-
vidos for the appointment of commis-
sion composed of eminent merchants
and manufacturers and joint rs pIesen-
talion of both houses of Congress to de-
termine what revision the tariff most
needs.