Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1891-12-16
EFFECTS OF THE TARIFF BILL
Shown in the Prosperity of the Country
and the Condition of the Treasury.

The general interest in the operations of the
Treasury Department has been much augment
ed during the last year by reason of the con-
hicting predictions which accompanied 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 it was con-
tended that imports would so fall off as to leave
the treasury bankrupt, and that the prices of
articles entering into the living of the people
would be so enhanced as to disastrous
that the loss 10 the revenue, largely
the result of placing sugar On the free list,
would be a 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 q larger market and the
treasury surplus and receipts would be adequate
to meet the appropriations. including the large
exceptional expenditures for the rounding to
the states of the direct tax and the redemption
| of the ~ per cent. bonds
1t is not my purpose to enter at any length
into discussion of the effects of the legislation
to which have referred; but a brief eXamina-
ton OF the statistics of the treasury and gen.
eral glance at the state OF business throug bout
the country will, think, satisfy any impartial
inquirer that its results have disappointed the
evil prophesies of its opponents and in a large
measure realized the hopeful predictions of Its
friends. Rarely, if ever before, i'll the history
of the country has there been time when the
proceeds of one days labor the product of
one farmed acre would purchase SO large an
ing of the masses of the people. | believe that
full test will develop the fact that the tariff
act of the Fifty-frst Congress is very favorable
in its average effect upon the prices of articles
entering into common use.
During the twelve months from October 1,
1890, to September So 1891, the total value four
foreign commerce imports and exports COM
bined) was 81, 747, .406 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 commerce amounted to s., 647, 139,09S,
and the last year exceeds this enormous aggre-
gate by over $780, 00J 900. 1t is interesting, and
to me somewhat surprising, 70 know that dur
ing the year ending September 80. 1891, i'm
ports of merchandise amounted to S624. 715,270,
which was an increase Of more than $1,000, 600
over the value of the imports of the correspond
ing months of the preceding year. when the I'M
ports OF merchandise were unusually large III
anticipation of the tariff legislation then pend
ing. The average annual value of the imports
of merchandise for the ten years from 1881 to
1890 was S692, 1876, 500, and during the year end
ing September 80. 1891, this annual average was
exceeded by S132, SIS, 469.
The value of free imports during the twelve
months ending September so, 1891, was S118,-
092, 3S7 more than the value of free imports dur
ing the corresponding twelve months of the
preceding year, and there was during the same
period decrease of S106, SAC, sos in the value of
imports of dutiable merchandise. The percent
age of merchandise admitted free of duty during
the year to which Ihave referred the first I'M
der the new tariff, was az. 49, while dur
ing the preceding twelve months, under the old
tariff, the percentage was a. n, an increase of
IS. 81 per cent If we take the six mouths end
ing September 80 last, which covers the time
during w hich sugars have been admitted free of
duty, the per ce Mt of value OF merchandise i'm
ported free of d uty is found to be 55.37, which
is a larger percentage of free imports than dur
ing any prior fiscal ear in the history of the
government.
If we turn to exports of merchandise the sta
tistics are full of qualification. The value of
months ending September 3d. 1891, $685.
091, 1856, while for the corresponding previous
twelve months 1t was $780, H. 115, an increase OF
$62, 914021, which is nearly three times the av-
erage annual increase of exports of merGhap-
disc during any year in the history Of the gov
eminent. The increase in the value of exports
of agricultural products during the year re-
ferred to over the corresponding twelve months
of the prior year was $45,S46 1877, while the in
crease i'll the value of exports of manufactured
products was SIC. SSS, 240.
There is certainly nothing in the condition of
trade, foreign domestic, there is certainly
nothing in the condition of our people of any
class, to suggest that the existing tariff and rev.
enue legislation bears oppreSslyely upon the
people or retards the commercial development of
the nation. 1t may be argued that our condi-
| ton would be better if our tariff legislation
| were upon free trade basis but ii cannot be
denied that all the conditions of prosperity and
| of general contentment are present IN larger
degree than ever before in our history and that,
| too, just when it was prOphesled they would be
in the worst state Agitation for radical changes
in tariff and financial legislation cannot help,
but may seriously impede business, TO the pros
perity Of which some degree Of stability in legiS
latiOu is essential.
l think there are conclusive evidences that
the new tariff has created several great indus
tries, which will within lew years give en-
plOyment to several hundred thousand Amerl-
can working men and women. In view of the
somewhat overcrowded condition of the labor
market of the United States, every patriotic citl-
rnini at Cl1n a