New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-30
PPOR1BLE RETENCE.

The Government now has TO face the question
whether the new revenue law will cover cx-
pcnscs Great reliance was placed by the Secre-
fairy Of the Treasury upon the probable with
drawal Of whiSkcy to escape the increase OF
fax. and II has indeed been large. but not so
large as was anticipated In August up to Tues
day night the internal revenue receipts had been
So3 SSO21S. and In July they We're about S2'.-
900 600 making about S49.0O0.0O0 for the two
months thus far: but the customs receipts h'.Ve
been so small. This month less than S1OWO,OoO.
that the Treasury has gained in general balance
comnorotiyely little Having realized a smaller
gain prior to the enforcement Of the new law
than WAS expected. the Treasury next has the
hope of large customs receipts by WITHDRAWALS
of goods from bond. and by increased importa-
tions under the lower duties. But while this Is
going on. the internal revenue Is likely to 1all
short. because the tax has been paid on nearly
half-year's consumption Vt spirits.
The value of goods in bonded warehouse July
q was S51.974.446. against $44.SGI,2S1 July J.
an increase of about $70OO.OOO: but this includes
heavy impor,ations Of wool and other articles
made free by the new tariff. the value OF when
i moi sonor,tclv stated OF wool alone there
was over SS.O0O,OOO, and probably $l0.O0O,wO
while a considerable part Of The remaining s42'-
900 worth Of goods In bond may not DC
Withdrawn. This is evident from the fact that on
goods representing raj millions In value there
Is no change of duty. while on some other goods
tho cbopces are slight Those who calculate
that the Government will at once receive the
dut,es ON over S4O.OOO.OOO worth Of goods IN
store. which might amount TO Sl6,0OO,OOO, are
Iytyx
INNOVATIONS the customs revenue was expected
by the department to be from S2ooo".ooo 10
so5 600 600 per month for some months TO come.
In the four months Sepcmber-DecemDer III
c,us,ve in 1897. when business far more
prosperous than II is likely to be TINS year. 'he
customs receipts were SGjOOOOOo. and an aver
age OF $2O.OO0.O00 or $2o.OV.ooo per month 'h'S
reor At lower duties would imply an enormous
increase In the consumption OF foreign goods.
If remains TO be seen how far these anticipa-
tons Will be realized. But 1t must be noted mat
very little revenue can be expected from sugar,
because the increased importaions free OF du'y
have been enough to supply consumption Tor
the rest Of the year. Duties on all o'her ar''-
clos according to the official estimates. were
expected 10 be S135.1721SI yearly, or ABOUT
SI5 600 600 in four months, provided imports
as large. the expectations Of the Treasury as 10
revenue this year can hardly be realized. IL Is
quite possible. Of course, that the opportunity
TO get cheaper foreign goods may he greedii!
seized by merchants and traders OF all sorts, III
| advance n an expected consumption when may
or may not appear. If so. the Treasury VIII
get its larger revenue, and the country Will have
| TO pay for the goods.
| As The internal revenue receipts III the four
months OBSERVATION-DISCLOSURES. 1S92, were apou'
s5j. OOO. 600. but only about S2O,OOO'OOO from
other sources than whiskey. the revenue IRON
which has this year been largely anticipated II
| is quite within the bounds Of possibility thn'
the decrease in internal revenue may be about
"a much as the Increase in customs receipts III
that event. the position OF the Treasury beior'
the half year ends will be less satisfactory than
the Secretary has expected. To hope thst the
revenue from customs VIII increase Is, unfort'i
notely. 10 hope that Americans Will be dis
charged from employment. and that the country
Will be obliged TO pay out more gold to Other
countries for goods.