Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-10
OUR FINANCES.
Benefits of thu Mckinley Bill Already Felt
Figures That Prove the Success of the
American Policy-Many Interesting Sub
iects for Thought,


American Policy-Many Interesting Sub
jects for Thought.
The general interest in the operation. of
the Treasury Department has been much
augmented during the past year by reason
of the conflicting predictions which ac-
companied and followed the tariff and other
legislation of the last Congress affecting the
revenues, as to the results of this legislation
upon the Treasury and upon the country.
On the one hand, ii was contended that i'm
ports would so fall off as to leave the Treas
ury ban krupt land that the prices of articles
entering into the living Of the people would
be so enhanced as to disastrously affect their
comfort and happiness, while on the other
it was argued that the loss to the revenue,
largely the result of placing sugar on
the free list, would be direct
gain to the people; that the prices of the
necessaries of life, including those most
highly protected, would not be enhanced; /;
that labor would have larger market and
the products of the farm advanced prices;
while the Treasury surplus and receipts
would be adequate to meet the appropria-
tions, including the large exceptional
expenditures for the refunding to the States
of the direct tax and the redemption of the
Az per cent bonds.
Calamity Croakers Knocked Out.
1t is not my purpose to enter at any length
into discussion of the effects of the legis-
lation to which L have referred; but brief
examination of the statistics of the Treas
ury, and a general glance at the state of
business throughout the country will, L
think, satisfy any impartial inquirer that
its results have disappointed the evil
prophecies of its opponents, and in large
measure realized the hopeful predictions of
its friends. Rarely, if ever before in the
history of the country, has there been a
time when the proceeds of one days labor
or the product of one farmed acre would
purchase SO large an amount of things that
enter into the livirg of the masses of the
people. / believe that a full test will de-
velop the fact that the tariff act of the Fifty
first Congress is very favorable in it's average
effect upon the prices of articles entering
into common use
During the II months from October l,
1880, to September 80, 1891, the total value
of our foreign commerce Gmports and ex-
ports combined) was S1,747, ,S06, ,4O6, which
was the largest of any year in the history
of the United States. The largest in any
previous year was in 1890, when our COM
last year exceeds this enormous aggregate
by over one hundred millions
Comparative Values of Imports.
1t is interesting, and to some will be sur
prisirg, to know that during the year end
ing September 80, 1891, our imports of mer-
chandise amounted to 1924, ia, ,2I0, which
was an increase of more than 81 ,000,000
over the value of the imports of the cor
responding months of the preceding year,
when the imports of merchandise were
unusually large in anticipation of the
tariff legislation then pending. The average
annual value of the imports of merchandise
for the ten years from 1881 to 1890 was
S692, 1S6, ,522, and during the year ending
September 80, 1891, this annual average
was exceeded by S132, ,52S, ,469
The value of free imports during the II
months ending September 80, 1891, was
Sis, 1897 more than the value of free
imports during the corresponding II months
of the preceding year, and there was during
the same period a decrease Of S106, S46, sos
IN the value of imports of dutiable mer
chandlse The percentage of merchandise
admitted free of duty during the year to
which have referred, the first under the
new tariff, was 4S.1S, while during the pre-
ceding u months, under the old tariff, the
percentage was 34.27, an increase of 1891
per cent.
Exports Aided in Great Shape.
Ii we take the six months ending Sep
tember 30, last, which covers the time dur
ing which'sugars have been admitted free of
duty, the per cent of value of merchandise
imported free Of duty is found to be 55.31,
which Is larger percentage of free imports
than during any prior fiscal year in the his
tory OF the Government. If we turn to ex-
ports OF merchandise the statistics are full
of qualification. The value of such exports
OF merchandise for the II months ending
September 80, 1891, was 1923, ,091, ,136,
while for the corresponding previous
- months it was $500, III, lis,