New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-03

20 labor and the bankruptcy which viii producers
INVITING FRAUDS ON THE TREASURY.
nacrsnt defect the bill OF the majority IL It's prefer
nee for ad yaorcm over specific duties although the tos
tmony Of almost every Secretary Of the Treasury shes
The foundation Of the Government has been recorded
against the frauds upon the Treasury which go vaorem
iu,es invite and foster The Hon. Dsnie Mannlnsthe hrs
Secretary OF tho Treasury under tho present
.tsted In circular letter Issued July H. 1850 thss III
estgstons OF the methods entry and spprsisemenu
" imported merchandise have shown that the afn NV"
largely evaded BY undervsuaton wherever 'ne
are levied sd vaorem In subsequent special report on
tho revision OF the tariff, dated February H. 1880 ae
same ocal elaborsely presented the objections OF many
~ his distinguished predecessors against sd vsorem nuues
upon the ground that thcy encouraged hsudu'
lent entries Of imported goods =,
Notwithstanding the deliberately eSpssd 'y,. -. r.as
one Of the most psnsskng Of our Secretaries OF tne
ury the bill the majority continues many o. the oolee
uonsbIe I'd vslorem rates OF the present nrn sna n
Aucss cthers Here again. detect manifest purpose
20 favor foreign manufacturers al the expense Of our own
people tor ID v.ioren duties have % opented IN tos
past a. TO encourage fraudulent tmpoftauons oretn
goods they msy DO expected DO 20 again The majority
must have known. for Instance. thai Cd see-~ro 'oe'
entered a. sd vslorem rates the invoices nave oeou
scaly undervfued during the past tive years so muoh
~ that the ipostons OF steel In this form mve IN the
rerod mentioned enormous and entirely unpreoedenteo
In the hscai years 1885 and 1887 Tho Imports OF seewire
,as nnder "A v,orsm rates amounted 10 200 2s tons A
this country ample facilities tor the manufacture
Of steel wire rods there mus: have been some spee,
years mentioned and this cause Is found In uncervsua
tons. 80. =,
other features Of the metal schedule Of the bill Of the
ma orty are lust as Objectionable those we have men
toned Many Of them would increase mportstons and
thus Increase the surplus The Imporatons OF Iron and
steel have large In the last two years amounting
20 nearly 800 IN the calendar year 1887 the
foreign value OF which nearly ESQ 900 ooo that fur
Their encouragement TO foreign Iron and steel manufac
uers TO ship their produce into markets provided
in the bill Of majority. matter Of such serious mo-
country needs 10 be specially directed 70 u
and to the sweeping destruction which would DO sure 70
NOT 4 WAY TO REDUCE THE SURPLUS.
II be the purpose the majority 10 reduce the income
Of the Government customs sources VIC beg remind
them that that purpose will not be accomplished BY the
sealing down Of duties. as proposed In the bill IL
well known and supported by smost universal experience
that mere dminution OF duties tends 10 stimulate Tor
egn and thereby Increase the revenue This
is shown by the reports OF imporstions since 1888 OF
those articles upon which reductions mnde by the
law of that wear II the absolute peril" TO tho
business Of the country described by the President In his
message last December resulting from existing and
Increasing surplus Imminent and wellfounded, how
easily he could sverted IL By the purchase OF out
standing bonds with the surplus money In the Treasury
power which possessed clear and undouoed under the
act OF March g. 1881 which Ia as follows:
That the Secretary OF the Treasury may at any time,
spply the surplus money In the Treasury not otherwise
appropriated. much thereof as be may consider
proper to the purchase or redemption OF united s'aos
bonds