The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-02-17
FINANCE AND COMMERCE.
FINANCIAL.

THE year 1888. begins with a very large
importation of foreign goods at New York.
Only one total for January in the history of
the port exceeds the amount landed during
the last MONTH and of that excess more
than half million was in specie, so that
the volume of merchandise received is not
only immensely above the average, but al
most without precedent. These goods have
not been crowded in upon New York in an
tiCipation Of any changes in the tariff, nor
in any excess of the regular demands of
trade. Forty millions of merchandise
landed at any one port IN single month
is, as the Journal of Commerce remarks, a
startling exhibit, OF this forty millions of
merchandise only $l2,3i6, 40 consisted of
dry goods, and only ten millions of free
goods, including tea and coffee. About
thirty millions of dutiable goods were
landed during the month, of which 81, $50 :
56l went mo the bonded warehouse.
While the imports of merchandise for
January have increased SS,390, l57 above the
corresponding total of last year, the exports
of merchandise and produce from New
York have decreased for the same time
S2,il6,lS 5. Taking the specie into account,
the difference in the balance of trade at
that port between the first month of this
year and that of last year is upward OF
S60O0,OO0. We present comparison of
the January exports
1850 1881, 1882
Domestic produce S2i GGs, SOL 2s,526 800 2696i, $50
For gn free goods. 370357 l,30S767 42i, $50
Do dutiable ...... 377,51S 429SS2 1897
Specie aud bullion sl9,0l9 l,,3i5l4 l,27O44i
Total .,,... 500 236, 4S5 81, 800, l33 29ll91 IFS
Do exclusive of
specie .."...,. %, 1886 q ,26l, 9l9 27sis 78i
THE sub-committe of the committee of
ways and means, in charge of subjects re-
lating to internal revenue, will shortly be-
gin the preparation of bill for n general
reduction of internal taxes. The action OF
the committee in striking from the tariff
commission bill the clause which directed
an investigation of the internal revenue sys-
tenn leaves the committee free to go ahead
and prepare measure to modify
the existing revenue laws. The mem
bers of the subcommittee having this
matter in charge are Messrs. Dunnell, Rus.
sell, Errett Randall and Carlisle. Mr.. Dun
nell and Mr.. Russell are known to be oppos-
ed to lowering the taxes on whiskey and
tobacco, while Messers. Errett, Randall and
Carlisle each favor quite sweeping reduc-
tons on nearly all articles contributing to
the internal revenue.
Mr.. Carlisle introduced bill in the house
10 reduce llle uuty on WnlsKeV from W cents
to so cents a gallon, and to remove certain
restrictions imposed by the present law on
the keeping ofdistilled liquor in barreled
warehouses.
Mr.. Errett says that whatever the sub
committee may finally decide to do, all the
articles upon which it is proposed to reduce
the duty will be included in one measure,
and no separate bill for the reduction OF tax
on whiskey, for instance, will be reported
from the committee.
When the question of reducing the taxes
on whiskey and tobacco comes before the
full committee, the vote,will be very close.
AT present Messrs. Kelly, Errett, Randall,
Tucker, Carlisle, Morrison and Spear, fosn-
ing majority OF one of subcommittee. are
recorded in favor of Il reduction of the taxes
on both articles. The subcommittee will
besin to consider the subject ut its next
meeting