New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-12
THE RtHENIE.

Secretary Fairchild missed the mark rather
widely in his attempt to estimate the revenue
for the cunent fiscal year. His Official report
last December estimated the internal revenue
at one hundred and twenty-five millions. and
| it actually has been 81 ,6G2 06. lie eSti-
mated the customs revenue at two hundred and
seventeen millions, and it actually has been
| S224,O71.235. Thus the total revenue has
| been eleven millions more than he estimated,
| and the payments for pensions have also been
| ten millions more than he estimated. Neither
receipts nor expenses were judged with such
| correctness as may usually be expected, but the
| estimate Of receipts was the more remarkable
| because the Secretary therein made no allow
ance whatever for the natural increase OF reve-
nue., but deliberately calculated Oh customs re-
ceiptS about - 600, 600 less than those Of the
| previous year. and upon internal revenue only
100000 greater.
The Secretary ought to have known. especial
~, that his own rulings were inviting and in
surfing a very heavy increase in the imports Of
certain products. There had already been an
enormous increase in imports of wool, wool
waste wOOlen cloths called WorStedS, and
other products. 1t was the duty of the Secre-
tary to know that his rulings had been peculiar
" calculated to increase such imports, and had
done so, and would continue to do 50 until n
successor could arrive at decision on each
item affected. Probably the Secletaly's free.
trade theories led him to believe in the face Of
officially recorded facts and experience, that he
had done no real harm to the country by help
ing foreigners to wreSt its trade from American
producers But in some way he apparently con-
tIived to conclude that the customs and internal
revenue must fall off, because his party had
been ordered out Of Office
change in the amount OF revenue to he
collected under existing laws will probably take
place, beginning Immediately, in consequence
of the restoration of the law by Secretary Win
dom's rulings. There was in fact, a small de-
crease in the customs revenue for June, and the
few changes already made by Treasury de-
ciSions judging from last years returns, may
reasonably be expected to prevent imports on
which the duties paid were more than - ,0O0.-
600. 1t would be fair to expect on the other
hand. some increase in the customs and internal
revenue from the general increase in population
and business so that, instead of Mr.. Failchlids
estimate of two hundred and seventeen mill
ions for the year just begun, it would be more
reasonable to anticipate customs revenue Of
two hundred and twenty four millions or more.
With general prosperity, too the internal reve-
nue. would naturally expand beyond the one
hundred and thiIty-one millions realized last
year
This is the state of facts which Democratic
Congress refused to remedy by any reduction Of
taxes. 1t is clear enough that the need Of
A. hot
the President will call an extra session of Con-
gress early in the fall, and there ought TO be
some comparison Of opinion among Republicans
respecting the most desirable mode of reducing
the revenue. A little free discussion Of the
matter will do no harm, and may assist both the
President and Congress in needed preparations.