New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-14
TREASURY thrift ESTIMATES.

Secretary Fairchild very tuohiuiiy SaJs vn".
such estimates as the one he has submitted oil
the effect Of the Senate Tariff bill are apt to
he misleading and deceptive But IL woulu
hardly have been possible to make the estimate
more misleading in this case, IL it had been
deliberately intended to deceive. The method
nursued is to assume that imports nder pro
posed duties would be the same as the imports
under drties now in force. Where the changes
are moderate, this method may with some war
rant be employed. though only as giving an
annroximate idea of results But where duties
are seriously reduced or raised, it must in every
case be presumed that the imports would be
materially increased or decreased, as secretary
Fairchild properly admits. And where inc
dutiable article is one which is or can be MANI
w produced in this country, the elect OF
serious change Of duty cannot with any APP
proach to truth be estimated by the method
which. the Secretary has followed.
This will be made entirely clear by single
illustration. The present duty on tin plates
is cent per pound, and last year 6SI 'Zz4,S %
hounds were imported. With intent to reduce
the imports and to provide for the production
in this country Of a great part Of the TIN plates
required. the Senate raised the duty to ia
cents per pound. Experts of the highest stand
inc testified before the Senate Committee that
American establishments now in operation oil
sufficient capacity to supply the entire require
ments of this country, would be changed 10
produce tin plates within single year. ms
does not seem an altogether unreasonable eN-
mediation in view Of the fact that other similar
products of iron and Steel which bear dmsar
duty TO that proposed, are now almost entlfeg
nroduced in this country, imports being sub
stantially prevented. But let ii be supposed
for illustration that during the first year, three
ouarters Of the consumption would be supplied
from domestic works, and the remaining fourth
would be imported at the increased duty. Inc
true estimate of the effect of the change would
in that case be as follows:
Present revenue e32 o2i 200 pounds at le 400 o,o N
p,dPe e5 Ppu rrc6uc, iSs O5Oo74 pounds at 80
175c per pound 90 -''''''''- 1880, .
Reduction OF revenue sS6oo.2o o.
| Mr. Fairchild's deceptive method yields the
following obviously misleading statement:
Present rsvsnu. $50 224 COG pounds ~ le o o,o "a
p,dgs e5 Ppu rey auc ess 224 900 pounds at
175c. per pound. '-''''-''' Ii,VY -
,,,,.,.. =, ,.vo,uo SI.74I, Ose %
| In precisely the same manner the changes IN
other parts of the metal schedule, which are
intended 10 insure and doubtless would insure
great decrease in imports through develop
ment Of home industry, arc made by Mr.. Far
child's estimate to result In an increase oil reYe-
nue., whereas they would result in decrease.
The same is true OF changes in the wool and
woollens duties, and in many other important
items. Mr. Fairchild's estimate as to the elect
Of tariff revision proposed by the Senate Is
unquestionably in error by many millions and
his estimate of the effect of the House bill Is
hardly more correct. There is much reason
for believing that while he makes the reduc-
ton of the revenue by the House bill $50, OOO,-
600 and by the Senate bill only Sli,OOO,OOO.
the actual reduction by the House bill would
be not more than half as much as he estimates,
while the actual reduction by the Senate bill
would be considerably more than twice as
much as he estimates
These figures are Of Importance at this time
because a studied effort is being made by a
Democratic Administration and Democratic
majority in the House to create a false I'M
precision regarding the Senate substitute, in the
belief that this impression INV not be removed
when the same or a similar i-1asure comes ny
in the next Congress- The intent OF many
important changes proposed by the Senate is
TO cut down impOrtatons, and consequently
customs revenue by rapidly developing home
Industry. The Democratic authorities falsely
treat the changes proposed as II they were to
take effect on importahons neither greater
nor less than those of the last year.
|