The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-12-05

enues from customs under the present laws will
On succeeding years Increase rather than dlnln-
Ssh. ......o4 A..
Ahe repea, of internal revenue taxes proposed
NV their bill would effect reduction OF S34,-
E9O334 The Commissioner or Internal keYe-
nnn estimates that the aggregate amount or re-
duction made by the act Will not be less tnan
S43 OOO, 900 per annum, including the SIX mil
lions of taxes on deposits of national banks hut
he further estimates that the increase OF receipts
from distilled spirits will so augment the reve-
nues from that source as to make the aggfegate
receinta from internal revenue Tor tii5 year
$4,000, 600, or about $24 800, 600 less IMAM
those for the preceding year The reduetlon'
therefore from all sources OF internal revenue
for the current year appears to be about 9lo,-
100000 less than the reduction expected ny the
Senate committee. We have, then, reduction
of $3O,O00,U00 less than was sought Tor ana eA-
peoted. -. -.,.,.,,o,,
which was not attained and is IT. now advisable
to attempt a reduction or the revenues Tor III,
lure years to arise from duties on impOrtsY
There was general agreement that substantall
reduction of the tariff should be made. The es-
Inmates OF the tariff commission ana OF tine
Senate cOmmittce show what was the contem-
Dlated reduction. The actual eSults far OBJ
hained indicate that the reduction lahOred for
mas not been effected by the new tariff act. 1t
as to be considered, too, that the failure Is not TO
be charged to the increase OF 1mPortations keep
Ding up the amount of customs revenue. Inc
statistics of our foreign commerce show that
there has not been an increase chargeable there
with. AS to the principle of reduction, IL re-
vision be practicable, there seems TO be little
disagreement. The reduction should be made
on articles entering into general
consumption as necessaries-as sugar,
molasses and the like, rather than upon luXu-
Ties; upon raw materials, rather than upon
manufactured, with due regard Co the fostering
bof domestic Industries and occupations espe-
cially those not fully esta bli5hed In the report
of this department. last year, the reduction as
applied to the principal classes of dutiable arti-
Giles was considered somewhat in detail, and, ad-
asTng to the " taere il
may be deemed needfu to so legisate as to GER
tain industries and businesses as TO effect rednc-
Rion or suspension OF the revenue from the TAX
mtion upon them. Those making or trading IN
distilled spirits, or who have made loans or ad-
wances of money thereon, will be earnest in en-
hieavor for extension of the bonded period.
1t is not unlikely that Congress will listen TO
hheir appeal. An extension of the bonded period
will effect reduction of revenue for the length
tDf time thereof. On the whole, then, this de-
lpartment does not recommend an immediate re-
vision OF the tariff act 1t adheres; however 10
ats conviction that ultimately the just and ex-
pedient method of relief from taxation aud OF
limiting the revenues to the needs of an econ
EOmical government must be found in reduction
of the duties on imports.
1t may not be deemed eXpedient so soon TO
make again revision of the tariff TO effect re-
hnctiOn. And there are considerations which
ARE apt upon this head. The new tariff act went
Into operation, in all its parts. on the 1st day or
July, 1888. There has gone by since then hut a
little one-third of fiscal year. It is short
hime In which to learn with accuracy how so I'M
kDortant and wide-reaching a law us that. touch
Ding all the business and industrial interests OF
tho country, will permanently affect the reye-
nues- 1t is known that in some respects the first
effects of it may not be relied upon as stable.
Wherein the provisions of it lessened the duties
mpon foreign articles, it stimulated i'm
EpOrthtions thereof, Immediately before the LIST
day ofJnly. The goods were put In bonded
warehouse, to be Withdrawn at once after that
day. on payment of duties at the new rates.
Wherein it increased the duties Gas itdid In some
instances, by new provisions to meet the adjudi-
cation of courts or the rulings of this depart
iment), it stimulated nnp0rtatiOns prior 10 the
LIST day of July, 1888, with the purpose of TAX
aDg che benefit OF the lower rate prevalent up to
that date. These accelerated imporCatiOns were,
as natural result, followed by decreased i'm
portatiOns of the articles after the law
took effect; that the lasting effects of the ap-
plication of it to the business of the country
may not be known with reliable certainty,
either in the general result upon the volume of
revenue to be yielded by duties upon imports,
or in it's particular results upon especial classes
OF goods and especial branches of domestic in