The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1893-03-10
cLEyELAND's FISCAL POLICY.

Secretary of the Interior Hoke Smiths
paper, the Atlanta journal, may be consid-
cred an administration organ to the extent
that it would not cross the track of the adj
ministration. Mr.. Smith is one of Mr..
Cleveland's chosen advisers, and it would
be awkward for him to be understood to
own aud control paper that was constant
" giving out transformation. Mr.. HOke
Smiths paper SAYS that there will be no
radical changes in the tariff until the new
administration has got the revenues up to
the requirements of the Government. The
careful reader will doubtless perceive q
change Of tone in this view OF the case.
When the Democrats were out the demand
was that the expenditures be reduced; now
the demand is that the revenues be in
creased The discovery has at last been
made that this is billiOn-dollar country.
While THE CALL would not induce the ad-
mtnistration, If it had the power. to make
radical changes in the tariff. the intimation
Is in order that deficient revenue IS no eX-
cuse for letting the present tariff stand.
Fifty per cent of the imports of the country
are now on the free list. What more simple
than to replace duties on some article which
the Mckinley tariff admitted free? A duty
of l cent pound on sugar would give the
treasury S39,00o.000 a year. 1t would also
enable the Government to save at least one
half the amount now paid out in bouuties
on the native product. A duty of l cent
and a bounty of / cent would be to the
home sugar-grOwer the equivalent in the
way of protection to bounty Of cents.
There is no immediate necessity for a
transference of any article on the dutiable
list to the free list. Mr.. Cleveland cannot
fail TO have discovered that the present
duties on wooden goods are building UP that
industry. Should Congress put raw wool
on the free list, nothing would save the
manufacturers of wool from a like fate.
The manufacturers understand this so well
that they have materially modified their
demand for the free raw material. II will
be foun1 possibly in the course of year or
two. that the duties on some kinds of manu-
features can be reduced without greatly in
creasing The imports of such articles The
duty on steel rails is somewhat in excess of
the difference between the cost of steel rails
in Europe and in this country. A reduction
of duties In such cases would work no par
ticular harm.
The Democrats are inclined TO magnify
the difficulties in the way of what they call
tariff reform. Ii would be simple thing to
increase the revenue by 5000 100000 by
duties on articles now admitted free.
Changes in this direction are In the line of
a change from a protective to tariff for
revenue policy. a reduction of duties on
articles now dutisbie can be deferred with
out danger to the country. Legislation in
this direction requires more consideration
than in the wav Of imposing light duties on
articles now admitted free. There is cause
for concentration IN the present indication
that, If Mr.. Cleveland is not a convert to
the protective policy, he has at least dis
covered that the substitution of a revenue
tariff for protective tariff requires the
most careful consideration.