The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1894-10-20
A FINANCIAL FAILURE.
Tho Democratic Sugar Trust Tariff Cuttinl
on Revenue Receipts-

Its first month the worst September in
the past ten years. Receipts under IL
little more than half those under the
Mckinley law. WIN n new bond issue
be necessary?
The first month of the workings OF
the sugar trust tariff law are bitter
disappointment TO the democrats.
They have been complaining that the
Mckinley law did not furnish money
enough 10 meet the legitimate ex-
penses OF the government, but 20 their
astonishment they find their own
tariff law falling short OF the Mckin-
ley law, or any other tariff we have
had for years, in the matter OF re-
ceipts. Not only SO, but they find the
receipts under their new law during
it's first month nearly eight million
dollars less than the expenditures dur
ing that same month. This would
seem 10 indicate that the new law
will produce about one hundred mil
lion dollars less per annum than the
expenditures. IL was expected that
the customs receipts under the new
law would be enormous during the first
month. Hundreds of millions OF dollars
worth of goods were piled up in the
bonded warehouses of the country
waiting 20 come in under the reduced
rate offered by the new law. So 1t
was naturally to be expected that the
receipts OF the first month under the
new law would be very large, and
would convince the people at once
that all the claims for n reduced tariff
were fully justified
Now let MS see what IL really did do.
The law went into effect August 2S,
SO that the first month OF It's workings
may fairly be put down as the cal
endar month OF September. An Off
cial document issued by the treasury
department, under the auspices of the
democratic secretary OF the treasury,
entitled "The comparative statement
of the receipts and expenditures of'thc
United Statcs,n shows the following
figures for the month of September;
Receipts, So, 62l, Dps. IS; expenditures,
$50, 823, 0ts.61.
Thus il VIII be perceived that the
receipts were S7,10l, 100 - less than
the expenditures during the month Of
September, the first month under the
new tariff law. And this, too, in the
very month in which the receipts were
expected 10 run very large because of
the enormous importation Of foreign
goods piled up in the warehouses wait
ing To come In under the new law. II
the new law in this first month, in
which it was expected 20 be exception
ally productive OF revenue, actually
produces q deficit OF S7,70l, 700, il does
not take much OF an arithmctical ex-
pert TO figure out the prospective de-
ficiency in twelve months at nearly a
hundred million dollars.
Now TO compare the workings of this
sugar trust tariff with the much
maligned Mckinley law. The first
months receipts from customs alone
under the new law were $50, 561, 900
| The customs receipts under the first
month OF the Mckinley law were S24,-
034.ll4, showing the customs receipts
under the first month OF the Mckinley
law in the first month OF its operation
10 have been more than fifty per cent.
! greater than the customs receipts un-
| der the sugar trust tariff law. But
that is not all. The total receipts of
|
tariff were go, 62l, 22s, while the total
receipts of the first month under the
Mckinley tariff were S39, 222, ia, or 70
per cent greater The average
monthly receipts OF the AZ months that
the Mckinley tariff was in effect, were
/ $50. Soi ,OiG. or nearly 30 per cent.
/ greater than that OF the first month OF
! the sugar trust tariff law.
But the suggestion is made that IL Is
not fair 10 compare the September re-
ceipts OF this year with all the year
round receipts of other years, because
/ September is light month In receipts.
So. let us compare the receipts Of Sep
TENDER under the sugar trust tariff
/ with the September receipts under the
/ Mckinley tariff. While we are about II
/ suppose we take in the preceding tariff,
! aud cover say the Scptembcrs from
1854 90 1894. This will give Us glimpse
/ OF the Arthur administration, all OF
/ MIR Clcvcland's first four years, all OF
/ IIarrison's term, and part OF Cleve-
| lands second term. and will also give
j seven Scptcmbers under the tariff OF
i 1888. three Septembers under the Nc
/ Kinley law. and the first September
under the sugar trust tariff. IL may
/ be worth while, too. TO give the ex-
pcnditures I'm each month. 1t will be
observed that the total receipts under
the sugar trust tariff in September.
1894, are less than IN any September ia ten
yoqrs, and that the expenditures are
greater Than IN any September ia Ten year4
ExBendi-
RfcffufS furss
/ September 1894 ti7 l1aQi2
/ September 1886. ......... p05l O28 rs s6l 80
! September isSd.......... ~ fNff0l 20.hs3 IQl
| September 1857 .......... 3e10S i7.O16O75
/ September iHAS. ......... 81 cge.iTt las $50
/ September lsep. ......... 81 4i0Ip0 II Ois
/ September 1890 .......... 30 TH3.s3l 20 zi0 aa3
| gantarn bor Irui ......... Ia Joanna gp 6gT Az