The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-12-30
rhe Dfngley twins Again.

pen of its special Washington correspond
emit. that President Cleveland would sign
the Dingley tariff a~trocity if it made its
wax through the Senate. The correspond
ent alleged that he had the information
from the highest authority. The author
of Newark. who is probably less able to
forecast the Presidents purposes than
General SewelI. for the General at least
has the brains to form a good guess as
to the Presidents probable action.
Down to date. there is not the remotest
sign to encourage the idea that Presi-
dent Cleveland would dream of signing
the bill. The probabilities are neither
the tariff nor the pond bill will reach
We believe, if they did he would veto
both. We believe he will be still more
sure to veto them after they have been
remodelled by the Free Silver Finance
Committee of the senate.
The total ineficiency of the bond bill,
coupled with the array of traps and
pitfalls which it prepares for the Admin
istration, would cause him to veto it,
even should it come before him without
a free silver rider-a very improbable
happening. The tariff bill he is bound to
veto for two strong reasons: First thatitis
. 4, ohcaluta ba clafraok meas jlra So far
as it's economic effect is concerned. Sec
ond, that it not only would be ineffect-
ual to increase the revenue but would
probably materially diminish it.
In his report for the Committee on
Ways and Means of the House, accom-
panying the twin atrocities. Mr.. Dingley
advanced the proposition that the Tariff
twin would add $40. 900, 900 a year to the
customs revenue This, he figured, was
to be produced in this way:-S14,0 600, 600
from placing a duty upon i~nportations
of wool, s14,0O0.0 oO from increases in the
duties on manufactures of wool, and
s12, 00e,0 600 from increases in the other
schedules. All existing figures show the
utter absurdity of these assumptions.
The heaviest importations OF wool I'M
der the Mckinley tariff were in 1893.
They amounted to about 100000 pounds
and they yielded a revenue in the neigh
borhood of eight million dollars. 1t is
utterly ridiculous to suppose that any
greater amount than this could be ex-
pected in 1896. The amount of tariff laid
on by the Dingley bill is GO per cent. of
the Mckinley rate. Therefore, If the
Importation of 1895 were about the same
III quality and grade as in 1898, the rev
enue would be only. about four million
eight undred thousand dollars. Let us
grant that at so per cen of the McKin-
ley rates a little more and a little better
grade wool might be imported next year,
still it is obviously only wild talk to say
that the same sum Of eight millions might
be realized In revenue, not to speak of
by Mr.. Dingley.
Equally preposterous is the estimate of
an Increase Of s14, Geo, eco in the revenue
from woollen goods. In 1893. when the av-
erage tariff rate on wooliens was about
100 per cent. they produced for tho Treas
airy about tn:rty-six million dollars. I'M
der the present liberia, tariff, their I'M
ycrtat,on has been so stimulated that
Their revenue product fer 1895 may he
.y t.ie charge in tariffs the Treasury
oaly loses six millions. set Mr.. Dingley
asas Us to believe tiias BY a change back
.ye WI; ;sain fourteen millions. Can any
thsaig DC .na-e absisEi: The Dinghy
iigerss are regarded as establishing an
average dssy OF eighty-five per cent.
This is Just enough to prohibit everything
that the Mckinley tariff prohibited, Ill
il Yields Just fifteen per cent. less rev.
enne.
No less INDUSTRIOUS is the estimate of
s12.0o0.oD increase from the other she'd
ulcs. This estimate is based on the old
protective theory that You can prevent
foreign competition by taxing goods nigh.
and yet make a revenue by importing
them. The failure of the plan was radi-
cally demonstrated by our three years
Of McEin,eyism. But Mr.. Dinglev ap-
pears to be a sort of Bourbon Of finance.
So much for the fiscal aspects of the