Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-12-27
MON n IG' S.

reach about sg0.OOo,0O0 and abou. $4,000 |
vuV In the present month, and M to I
the present time thuro " 20 sufficient !
ground for hoping that this lnsufllo'Nns
cy Of revenue Will not continue during
the remainder OF the fiscal year, ano
how much longer no one can safely
predict
II the consequences OF such chronic
deficiency were only TO create the heo-
essary borrowing OF money to y Get
current expenses In time of peace tVon
this would anrord abundant reas) 10.
Increasing the revenue. Tut tho con-
uaquonccs are more wide reaching tltr
that InRunlclenny OF revenue ..ai
mnde II necessary TO use tho rcd 'Vined
United Sintes legal tender noes &c
pay current expenditure and thus IL
supply additional means TO draw gold
from the <-oenback redemption fund
In short, 10 create the "cndieBa chain"
OF which the secretary OF the treasury
complains, and which hiss made II
necessary to sell issue after issue Of
bonds to roplcnlsh tho reserve.
Your committee believe that II " tho
duty Of the house OF representatives 10
| frame and pass measure that VIII
\ include not FAR more than $40 100000.
sufficient 10 put an end 20 the deli
| cheney and TO do this without delay,
/ too leaving to others whose co-onefh-
ton f. required TO finally put such
| legislation on the statute books TO
meet the responsibility In their own
| way,
And the presidents special message
setting forth 30 pointedly the serious
ness OF the situation aud the ncces-
| atty for the promptost action only enl-
phasizeH the duty OF the house.
In response to the urgent call OF the
| president your committee have felt
| compelled to act with all possible dis
patch. Two facts have led your COM
mttee to look to an Increase OF cus-
toms duties na the most appropriate
| source Of Increasing revenue. They are
first the fact that we are already nu-
thoTizing diaproporuonnte amount
from Internal revenue. which has al
ways been regarded as a war resort.
And secondly, the fact that by In
crensIng customs duties on imported
articles which we can and ought TO
produce or make at home for revenue
purposes we can Mt the same time IN
cldentally encourage stricken INDUS
trles and materially aid In turning In
our favor the balance OF trade which
has been 30 heavily against us all
through the calendar year. and which
has caused demand for gold for ex-
port which the treasury mas been
! chilled upon to supply.
Your committee have not undertaken
n general revision OF the tnriff on pro-
lection lines, nB majority hope can
be done in 1898,
we believe however that this need
OF moro revenue Ia 30 great thht
eimpIe measure Increasing all duties OF
Tho dutiable list and taking from the
free list OF the present tariff few ar
tIclcs that were always on the dutiaDle
list until Aug "a. 1894. and limiting the
operation OF such leginlntion TO about
two years and hnif-until tho present
deficiency OF revenue In overcome,
ought 10 receive the approval even OF
those who do not favor protective du-
lies. In framing he bill submitted for
your consideration It hns been neces-
sary, II action was to be promptly
taGen. TO resort TO considerable sx-
TENT to a horizontal raise OF duties Tor
the reason that II wbuld have required
months TO deal with such articles sepa..
rateiy. But while we have presented
In the brief manner reported horizon
tai Increase OF 10 per cent OF existing
duties on nil schedules but two, whicn
IL an addition OF less than per cent
10 the I'D vaiorem rate. giving ABOUT
: si5 000. 900 revenue from that source,
Vel more than s25000,oOO Of the $4,000
900 which II IL estimated THIS bill would
add to our annual revenue would come
. mainly from wool, when " ,nkeh ir ,.,,,
the FREQ list and given moderate duty
, and from manufactures OF WOOL. which
/, nre given d compensatory duty equivn-
: Leaf 10 the duty on wool (Which " al.
1 why's necessary when duty - pincen
on wooD In order to awe the Wool
grower a benefit and make II possible
10 manufacture woolens Mt home. the
lin reported by your COMMITTEES pro.
. poges 10 mako the duty on Imported
I clothing wool 90 per cent OF the duty
i, Imposed by the act Of 1890. which would
rive an equivalent Of . $40 OF cent
'. pcr pound on unwashed wool. or ABOUT
10 per cent nd yslorem. This reduction
from the duty OF the act OF 1920 hns
y beon made because the restoration OF
! duty In that act might eeem 70 be 700
i great a change from the present law
! 70 thore whose cooperation u " neces-
! snry 10 secure In order 10 have any
, Legislation and not as measure OF
! yyhnt might be done when all brancn.s
~ The government are In harmony with
, The majority OF the house on protection
, lin,s The duty on manufactured o.
/ wool Is Increased BY specific duly
Equivalent TO the duty on WOOL !.
! The duty on carpet wool N ieit AT !.
|. mar cent. OF the ndvalorem where y
raa plated In 1885, This Is purely reve,
! nue. duty. as we raise very few carpet
:, woois. such lumber az was placed on