New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-16
TIE SuETNEfGE ~ REUENLE.

.fI Tr.,su,., estimate Of the effects To be
o,ucctnd from the new revenue bill has not
vct h,.n made public. but it IL doupt'u III
W,shinrton whether the measure VIII raise aS
much rcy,nuc rs the Government needs Inc
main dincuIty Is to Judge how far the pros
,r,tinu Of home industries Will eat OH lhi-
variations 81 articles subject 10 duty ana con-
sumniiou II articles subject to internal taxes.
I'm, the official statement Just published OF the
iu,norts I'm January together with the customs
rnrniuts for the month u February, casts some
ucht ON the question The general character "f
tho nov. tariff was fairly well known in both
months. and manufacturers were trying 20 an
ticiu,tc It's effects ~ far rs they could Ii may
he considered improbable that larger share
If the manufacturing force would b" employer
after the measure has gone into operation thah
+. nov, cmplovc,l while the decrease in pur
cb.sin, powcr resulting from reduction In
,,.u,,es nlile. be- greater than il has been mus
far
putiablr imports in January were in value
So, Dos lH; AGAINST S:i9}u9.,2I for III" sam"
month ina ISo3 a decrease Of about ~ per cent
The customs revenue in February decreased
SG5iGu0D compared with last year. or ~" per
cent II is inferred that the ShrihkAEc WIS !"
character as we'll rs III proportion snp>'ah''"i''
th, same in two months. and that 1t gives sol"'
ludicaiion II the decrease in tho purchasing
power of the people In dutlab' ar'''i'S VI
food the January d"crcas" was ABOUT ID per
cent in crld" materials for domestic lhduSr!
about II per cent. In partially lnahula''ur'u
materials nearly 10 per cent. III nahuih''"r'u
articles almost 20 per cent ana III arhc'S I'll
voluntary use and Injuries nearly ~ per cent
In view Of the decline Of about - per cent in
domestic clcariugS in February. II does not
seem violent SuppoSitiOn that In" ShrIhkaE'
in nur,hasing power f the people has been
about rs large Such Il decline III III" demand
,,r tho Kind Of articles that are subject 10 duty
would imply Il loss Of about SI'W"W" III rev
cnuc if the rates of duty should remain Wilat
they were last year But in addition there l.
furthcr decrease 10 he expected from the re-
NAVAL az dutics ON some articles and the gen
oral reduction of rates. and this decrease. on
tbe basis Of importatons equal to last years,
was estimated by the House Committee ut
about $Ij.OoO.oo0 also.
Evidently the imports would increase Of some
articles on which duties have been 50 far re-
duccd as 10 place IN" home manufacture ut n
fatal disadvantage. Perhaps the wool manu-
facturc would suffer AZ much as any. ana pre-
sumably Il large proportion Of the goods con
sumcd would be- imported. If about SiooWD
900 in value were consumed last year, nine
tcnills of domestic make. and the purchasing
power Of the people should shrink In The proper
ton above stated about 81 per cent. 50 that
only 500 600 600 worth should be consumed. of
which SlJOODOOOO worth should be imported
thc revenue derived nj the rates of duty pro-
posed in the Senate bill would he about 500
600 600 in place Of about Si5.OO0,0OO collected
In l,.,s mo
conjcctural fashion the effect of the other revo-
uiionary changes proposed will have to he con
sidrrcd before it can be determined approx
matcly what the pending revenue bill would
yield.
But there is another consideration moi To be
overlooked The closing of the mills and mines
| In this country, rs Il consequence OF increasing
importatlons. would naturally be progressive,
and also the reduction In wages for those who
! still find employment In both ways the pur-
chasing power of the people would be dimin-
ishcd. It seems highly probable. beyond the
/ shrinkagc already observed. Nor il ii possible
now to determine how far the home industries
| will be able to sustain themselves under the
new conditions With no greater shrnkagc
/ than has yet appeared. IT seems questionable
/ whether the proposed measure would yield the
| revenue required. even though the imports of
many classes should he largely increased. 1t
! IS also To be remembered that the consumption
of articles like sugar. whiskcy and tobacco Is
! certain 10 be- affected considerably by the i'll
/ crease of cost which higher taxes would in
volyc One can only guess how much that de-
crease would he. but rs it Is proposed that the
/ Treasury shall depend for nearly thrcc-quartcrs
of its income on the internal taxes and duties
on sugar, the possible decrease in consumption
might prove most serious matter for the Gov
ernment
II President Cleveland will recall the action