The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-07-23
BALANCE OF TRADE
Why il is in Our Favor During
Hard Times.
The Wilson Bill Compared With
Government Expenditures.
THE INCOME TAX.
Estimates of What ThatFeature
Will Bring In
THE INCOME TAX.

- Don I prOpncsy Just yet There are too
many uncertain quantities, - said Assist
ant Secretary Of the Treasury William
L. Curtis in answer to inquiries on the
effects OF the new tariff. The advanced
estimates on that subject are estimates
only and depend upon so many contin-
gencies which cannot be foreseen that no
conclusion approaching exactness is pos
siblc- If you want to mako a contrast on
that point lust take the estimate made by
Mr. SchOenhof last winter and see how
widely it differs from estimates made
since the bill came out of the senate. OF
course tho senate bill as it now is would
furnish ample revenue and probably a
surplus but with the increase of popula-
ton it IS simply impossible to specify the
items. There Is first the question as to a
speedy revival of business, which would
greatly increase the imports. Now look at
this table. For the fiscal year 1894 the
exports exceed those of the previous year
nearly S45, 600, 600, while the imports have
so fallen of that while tho balance Of
trade was against us last year nearly
$40, 600, 600 it is for US this year $237,
600, 600. In hard times the balance OF
trade is always heavily in our favor be-
cause prices are so low that foreigners buy
freely Of Us and the people have not the
money to buy foreign goods. But here arc
the significant figures For the year 1893
the dutia5le imports were $421, $50, I'll,
while for 1894 they were only S275, O92,-
a year hences As to the internal revenue,
you must see our experts
Tho right Tor Delay.
An hours conversation with various
parties in the internal revenue department
developed q general cOncensus of opinion
which may b3 summed up thus: The ex-
perienco Of the government in 1867 and
Immediately following, with the high tax
on whisky, proves nothing whatever in re-
gard to the proposed tax. There Is no
analogy between now and then. The high
tax was then a new thing, the government
machinery was wretchedly imperfect, and
there was a time that not more than 10
per cent Of the legal tax was collected, as
was shown BY tho fact that whisky sold in
open market for less than the tax. Now
the internal revenue system is remarkably
efficient, and every cent Of the tax can be
collected.
In anticipation of the increased tax the
whisky men are taking their product out
of bond so rapidly that in one day So. OOO,
900 were paid in tax and on another 49,
400 600. - Evidently" he says, 1.-THE
whisky men eject the tax to be collect
ed As to the income tax, Mr.. Worth
ington G. Ford. chief Of the bureau of sta
ristics, thinks that the returns may go as
low as Sig, 900, 900 the first year and may
go as high as S39, 600, 600 in a short time,
but the calculations by which he arrives
at this conclusion are quite complex. He
estimates tha5 one-sixth of the tota1 will
be collected in New York.
A Revenue Measure.
Actuary Mccoy, who has figured the
rates of interest the varying bond
premiums and has done some calculations
the tariff says in a general way that,
as no tariff law ever did fulfill the expec-
tations Of its friends or its foes, there is no
reason to believe that this one viii. But,
assuming that there is no extraordinary
departure from the ordinary current Of
business, it Will prove a great success as
a revenue measure Secretary Carlisle
has already notified the interested parties
that the collection of duties upon sugar
viii proceed according to the plain mean
ing Of the Wilson bill regardless of any
reciprocal arrangements of trade with
ugar producing countries If any law
adds Mr.. Mccoy, did work as its design
ers intended, it was the Polk Walker tariff (
of 1S4O, but it cannot be taken as any cri-
terion for next years results" Between I
1879 and 1912 there We're 13 tariff laws
passed, all raising the average little
and Immediately after the close of the sec I
ond war with Great Britain came the
LOwndes- Calhoun tariff, a cOmpend of
all that had gone before, with many addi-
tiOnal duties, and it was the greatest dis
appointment of all. 1T is concludes |
of trade currents any great distance ahead p /
The uncertainty in the treasury depart
menU is certainty itself compared with I
the doubt which has racked so many
ged on and Senator Voorhees, repeated /
promises of action were thrown upon the
market at a rapidly increasing discount
the most patient members lost their tenn
per, and the most hopeful lost heart. Even I
the genial Mr.. Hunter of illinois, who /
had hitherto borne everything with a
smile. broke out into angry impatience
saying: THAT man in Bible times who I
said the net was spread in vain in the
sight Of any bird had certainly never met |
such 'gulls' as our fellows in the senate |
I believe in my soul those Republicans
will begin now and fight the whole thing
over again, item by item. and our fellows /
will let them do it. The Republicans !
know very well that if they can put of
the action of that law till late in Septem-
Der il will gain them go seats in this
house, and they are just strenuous enough 1
20 do it. What they want is to make the /
date as late that Of the Mckinley bill /
was. and If they can do it, oh won t they /
have a good time beating US fellows over
the head
Passed. but was Criticised.
The house com mittee on rules, on the |
other hand, has been proceeding on the
theory that everything was to be done I
with great rapidity They laid off the I
work 50 that everything could have been
out Of the way of the tariff some days ago I
One day was given to the Bailey bill for a |
uniform system Of bankruptcy and the next
to all the other bills from the judiciary
committee. Another day was given to the
committee military affairs. and after
that some railroad bills were to have the
right OF way. beyond which the rules COM
mittee would not consent TO think of any
further delay as to the tariff BILL In the
interval between the times set for leading