New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-11
THE TARIFF BILL IN THE SENATE.

AND EFFECTS
WASHINGTON, Jan. 10.-At the close of the
morning today the senate took up the Tariff bill.
aud Mr.. Morrill, spoke in explanation OF the bill Mr..
Morrill, began by stating that the report or this bill was
not made in any spirit Of antagOnlsm 10 or competition
with the Ways Means Committee Of the House, bat to
secure with greater certainty reduction OF too album
dant revenue boh from internal and the tariff by
snch timely consideration would permit favorable ac
ton on the part Of the Senate, az wei as OF
the House. befOre,the close OF the present session.
The amen dment reported from the Finance Committee,
SAID he has its basis the of the Tariff Commits
sion which all far-mnded men must concede has been
more of success than predicted by either friends
or enemies.
The internal revenue tax II the bill should become a
law win hereafter be limited 10 spirits, beer and tobacco
including snuff cigars. Avery substantial reduction
Is proposed. and In some cases possibly more radical
than the future may Justify The reduction Of the
on sugar aud and steel cottOns and silks and
On wool and woolens Is large and emphatic. The free
fat has also been considerably increased The re1uc
ton on the manufactures OF OF bonnes and hats
Oh salt. spices, caustc soda aniiine colors
and many other articles is very pronounce d..
Existing statutes require addition 10 the cost value
OF the imported articles upon which ad yaorem duties
are 10 be computed OF the cost OF inland transportation
land commissions All this IL Is proposed TO repeal and
this will OF course. cause conspicuous reduction IN
many heavy articles especially crockeiy and china
ware.
The repeal and reductions proposed OF internal
enue taxes continued Mr.. Morrill, as follows Eric
ton matches, 272, 25s patent medicines perfumery
etc. 81 978, 39J 50 bank checks, S23l8i55 IA bank
deposits $4,007,70l 81 savings bank deposits, $685.
400 AZ; bank capital Sll3s340 81 savings banks CAPT
tai. Sl4720 3S. Total S12,sis,29l 40 Add 10 these
items the collected by the treasury OF the United
states National banks 0llowh-Nati0nai banks
capital 1922 927 AZ; National banks deposits, $437
IA e0and we have total deryed rom these sources
of 7779S3 Special taxes, $3,O079O5; cigars and
cigscettes SO 74G6oO; tobacco, S6,255435 40 Total.
OF revenue will follow the proposed changes In
the tariff pretend TO any absolute accuracy.
Cation ssmated at 80 per cent, So 6sI 600 iron and
steel So silks. $34s7 600 wool and woollcns.
Missions and other charges, 100000 sugar SIS 800
900 molssses s6,50oc0o other items s82Sgooo
revenue, S34,79o.324 and the total becomes S79s3s-
tary Of the Treasury, is $747i9.s37 ia reduction OF
the letter postage should be made TO cent? as ~ may
. The sudden reductiqp OF so large an amount OF
the National revenues at single blow as proposed
possibly further We must not conceal from ourselves
snrsya 80 general downfall gSs values. w @
ously affect those with stocks on hand,
except by reduction of wages, Already some large
establishments are shut M, and In Philadelphia
an overproducton other articles than whiskey. and
nowhere more ext avagant than In the lio0o miles OF
frequently visible in the financial horizon Those who
believe that monetary crises are periodical now fear the
The existing rates OF duty imports are no doabs be-
You'd the requirements of the Government and should
these rates have sometimes been made. The average
rate upon the imporatons OF duaole merchandise is
small fraction AZ per cent "a va0rem, and upon
both duIiabo and 10 would amount 80 per cent
and small fraction. Our foreign export trade IN lSs2
our " nome manufactures alone. Wnien OF these