The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1894-11-03
NATIONAL FINANCES,
THE NEW TARIFF LAW HAS PROVED
A COMPLETE FAILURE.

Receipts Dropped Over e1oo, 900 n Day Ne
low the Average For the First Month
A Deficiency of sioo, ZOO, 900 Probable
An Alarming Showing.
Washington is seeing good many
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. A,
indicated fortnight ago, the record Of
the first month under the new law wa,
discouraging to the people who expected
to sec enormous importations and big
jump In the receipts Of the treasury.
But II the first month was painful the
second ono must be positively paralyz.
ing. OF course the second month hal
not yet been completed. for the new tar.
iff law did not 60 into effect until the
last days OF August But tho receipts
and expenditures of the first II days Of
this month show that the record of the
second month of the new tariff is goina
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,
1t will be remembered, $22, Gal, 22s, Oh
on an average of 1854, GAO per day.
Those of the first II days Of this month
have been 81 1, o02, sol. or an average Of
$647,21 per day, showing that aftei
the flood Of articles waiting to pass in
got out of the way the receipts dropped
over 500, 900 a day below the average
for the first month. There seems ne
reason for supposing that the receipts
for the other IA days of the month will
run heavier than those Of the previous
II have averaged. So it is reasonable to
estimate that the receipts of the second
month of the new tariff law will be, in
round numbers, $50, 900, 900, or loss
of over So, 900. 900 as compared with the
first month under the new law, when
there was naturally large importation
for 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, 900, 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 SIT, 1870, 900 for the
ordinary business and $4,000, 900 for
interest, making total of $22, 21G, 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
Mt least it is fervently to be hoped that
it will not. But there is reason to ex.
pect that the expenditures for the re-
mainder of the month will BIO 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 tho II days thus
far We're over 81, 200, 900 a day on an
average, aside from the interest, and this
estimate for tho remaining IA days only
allows $ll, 900, 900 for the ii days.
Deficiency of $4,000, 900 In Two Months.
So it is easy to see that the figures for
the first two months under the new tar
iff law will be about as follows:
Receipts. ,................sd 3, 100000
Expenditures .............. 63OOO,0OO
Deficiency. Observation-Disclosures. ..5 $50 100000
There are people, however, who dc
not like estimates. 5" They think they
are misleading. Well, those who do not
like estimates may like to see tho &C.
tual receipts and expenditures Of the
treasury from Sept. to Oct. 10 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
Sct. li.s...-... $50 Us, SIG
Total expenditures Of treasury. $50. 81, 099, OILS
Total deficiency NEUTRALITY-SUSPICIOUS.. 1s, 075, IM
AT this rate it looks as though the de.
ficiency in the receipts compared wit
the necessary expenditures in the fir
year of the new tariff must be certainl,
over 800, 600, 600, 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 financiering
Great is Democratic craftsmanship
Are the people of this country goina
to stand this sort of thing much longeri