The times. (Owosso, Mich.) 1882-1897, 1894-11-02
NATIONAL FINANCES.
THE NEW TARIFF LAW HAS PROVED
A COMPLETE FAILURE.

long faced people just now, but the sad
dest of all is the Democrat who has ex-
amined the treasury receipts and ex
penditures under the new tariff law As
indicated fortnight ago, the record of
the first month under the new law was
discouraging to the people who expected
to see enormous importations and big
jump in the receipts of the treasury.
But if the first month was painful the
second one must be positively paralyz-
ing. Of course the second month has
not yet been completed. for the new tar
iff law did not 60 into effect until the
last days of August. But the receipts
and expenditures of the first II days of
this month show that the record Of tho
second month of the new tariff is going
to be even worse than the first one-yes,
very much worse.
The Receipts Under the New Law.
The receipts of the first month were,
il will be remembered, $22, 621, 228, or
On an average of 1854, 04O per day.
Those of the first II days of this month
have been 81 !, 002, sol, or an average Of
$647, gil per day, showing that after
the food of articles waiting to pass in
got out Of the way the receipts dropped
over 500, 600 day below the average
for tho first month. There seems no
reason for supposing that the receipts
for the other ii days of the month will
run heavier than those of the previous
II have averaged. So it is reasonable to
estimate that tho receipts Of the second
month Of the new tariff law will be, in
round numbers $50, 900, 900, or a loss
of over So, 600, 600 as compared with the
first month under the new law, when
there was naturally large importation
for q few days. So it is safe to say that
the total receipts of the treasury under
the new law, including everything
customs, internal revenue and miscel-
laneous-will not be over $43, 000, 900.
Expenditures Greater Than Receipts.
Now as to the expenditures for the
corresponding period. The expenditures
of the treasury during the first II days
of the month were ST., 276, 900 for the
ordinary business and 5000, 900 for
interest, making total of $22, 276, 900.
Put this alongside the receipts for the
same II days, and it is easy to see that
the expenditures were more than double
the amount of the receipts. 1t is scarce
ly to be expected that the ratio of ex-
penditures TO receipts will keep up at
this fearful pace for the full month, or
at least. it is fervently to DO hoped that
it will not. But there is reason to ex-
pect that the expenditures for the re-
mainder of the month will be sufficient
to bring the October total up to $685.
600, 900. This is very moderate esti-
mate, for it is easy to see that the ordi-
nary expenditures for the II days thus
far were over $1,000, coo o day OH an
average, aside from the interest, and this
estimate for the remaining IA days only
allows $11, 900, 600 for the / 4 days.
"A Deficiency of $50, 600, 600 In Two Months.
So it is easy to SEQ that the figures for
the first two months under the new tar
if law will be about as follows:
Receipts. ACKNOWLEDGEMENT 3, 100000
Expenditures ............... 63,UOOOOO
Deficiency ................... 100000, coo
There are people, however, who do
not like estimates. " They think they
are misleading. Well, those who do not
like estimates may like to see the ac-
tual receipts and expenditures of the
treasury from Sept. l to Oct. Is under
the new tariff law. Here are the exact
figures, taken from the books Of the
treasury department at the close of bust
ness Oct. II:
Total receipts Of treasury, Sept. to
Oct' H.. 3,o@o olS
Total expenditures OF treasury 52, 900, 018
Total deficiency ......:.............. 1870, l90
At this rate it looks as though the de-
ficiency i'll the receipts compared with
the necessary expenditures i'll the first
year of the new tariff must be certainly
over 500, 600, 900, and that a further
issue of bonds must be required before
the end of the fiscal year.
Great is the Democratic tariff!
Great is Democratic fnanciering!
Great is Democratic craftsmanship!
Are the people of this country going
to stand this sort of thing much longer!
Prices of Farm Products Decreasing Daily.
In the state of Maryland, within 20
miles of Baltimore and Washington,
where there is good market for all
products of the farm, lower prices are be-
ing realized than at any time within the
last year. A notable illustration will be
found in that of rye straw, which is cul-
tivated largely throughout the state of
Maryland and sold in the large cities as
bedding for horses, etc. Rye straw in
1892 was sold readily at SILL 80 per ton
along the lines of the b. and o. rail
road A shipper at one of the stations of
the road reports within the last 20 days
he has bought all the rye straw ho
wants this year at SIS per ton, a loss of
one-half in two years upon staple
product to the farmers of Maryland.
Surely the Democratic farmer in good
old Democratic Maryland is reaping q
rich harvest as result of his voting
the Democratic ticket!
The price of hay il another illuetra
ton, not only in Maryland, but in tho
western states, including Ohio and In
diana. LAY that brought in 1892 from
81 to SIS per ton is now selling for
SO TO 50 per ton. Canadian bay is al