The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-01-02
Tho Proposition 10 to DO Submitted
to Congress-.
ADDITIONAL REVENUE is NEEDED.
Tho Government i.unning Behind
Hand III Its Receipts Monthly-A
Critical Condltlon-Dencits for tho
Past Six Afonths-ono Way to Raise
Money Is to Increase tho Tax on
Beer

Tho rosy statement which has boon
given out by tho treasury authorities as
to tho probable receipts from tho now
tarlfi law represents, doubtless, what
the treasury authorities would like to
believe rather than what thoy do DO.
lieve. These official statements arc not
In harmony with tho views which tho
treasury officers havo privately ex.
pressed. What the purpose Is OF giving
publicity to such 'SuOss," for that Ia
what tho statement is, rs to tho proba-
bio operations OF the now tariff law for
the coming six months Is not clear. It
can hardly DO designed to indicate to
Congress that tho treasury 10 not In
need OF any further revonus; for the
energies OF the administration aro now
chiefly directed TO discover how cxist.
ing sources OF revenue Can DO made to
yiold better results, and how additional
sources OF revenue can be provided so
that bond Issues may DO avoided.
DEFICIT FOR SIX MONTHS.
The fact appears that the receipts OF
the government for the last six months
have been S2S,5O0,Oo0 less than the ex-
penditures. During that period the
total amount Of duty received from
sugar was S2,500.00O, while, under the
operations OF the law which has been
repealed. the sugar receipts were annu.
ally III excess oil S50,000,00O. 1t appears
that. in the treasury forecast OF the
probable revenue for the next ak
ak months, larger amount is expected
from the sugar duty. Yet those who
are the moat familiar with the sugar
business have expressed the opinion
that no very large sums are likely to be
received from tho importations OF sugar.
owing to many tariff and business com.
plications. The vast store of sugar i'm.
ported in advance OF the passage OF the
new law Is by 70 means exhausted, and
It Will furnish tho retiners an abundant
store for very long period, particular.
ly II there Ia to be any considerable re-.
duction ln'ths outpu: OF the rehneries,
as has been threatened.
No revenue whatever ia expected
during the next six mouths by the
treasury experts from distilled spirits,
while the receipts from tho income tax
Ut that shall not be declared uucousti.
tu,ional before it can 90 into etiect) are
entirely problematical. Meanwhile the
gold balance, which few days ago was
Sl27, 100000, has been reduced in round
numbers TO $50. 000,0 900, and tho score
tary Of the treasury does not hesitate
to inform Congress, as he recently did
IN his statement TO the house banking
committee, that as things are now 90
Ing 1t seems very probable that another
sale OF bonds will be necessary to again
replenish the gold reserve, unless Con.
gress shall enact the desired currency
legislation.
In view Of these facts, how it can hap.
pen that the treasury can give out q
statement called official. which IS de-
clared to be- very satisfactory and 10 af-
ford very cheerful prospect tor the
future, IN the absence OF legislation, il
10 not easy 10 understand.
1t Is known from private sources that
the present secretary OF the treasury is
OF the opinion shat more revenue mus.
be provided by the present Congress.
unless the government Ia to rely upon
repeated sales OF bonds for current e1-
penditures. 1t Ia discovered. moreover,
that, owing to the extension OF the
bonded period and TO the extensive
Withdrawals OF distilled spirits from
bond when the 90 cent tax was still in
effect, the government is practically 70.
celving no revenue from distilled spir-
Its. The commissioner OF internal rev.
enue, when asked recently by Demo
cratic friend how much revenue could
be expected from distilled spirits, said
that he was not certain that any reve.
nue. from that sourca could be reasona-
ply expected Tor year, owing 10 tho
TACT that the large stock OF spirits with.
drawn from bond when the 80 cent tax
was stlll IN effect ia still undisposed OF
upon the market. and there is no pres
ent indication that any OF the spirits
put into bond under the new taril law
Will Do Withdrawn for early consump-
ton.
HOW TO RAISE MORE REVENUE
Per contra to this optimistic state
mens. unless thoae who are usually
well informed are greatly mistake
and unless treasury officials who arc
necessarily in the confidence OF tho sec.
rotary oil the treasury have been talk
ing through their hats" there havo
been recently some important confer.
ences, the object OF which has been to
discover how best additional revenue
can be provided.
A treasury officer has inadvertently
given some hints to indicate that tho
secretary OF tho treasury Is likely TO ask
Congress- to Immediately furnish him
With additional revenue. 1t appears
that, whatever the secretary OF tho
treasury may choose to say for political
effect, some Of the treasury authorities
are convinced that tho new tariff bill,
even II the income tax shall BIO declared
constitutional, and shall provo TO DO
effective, will not yield adequate rsv.
euue.
Tho situation has become critical.
The practical effect is that the new tar
III law does not yield adequate revenue
to run the government. The secretary
OF tho treasury has discovered that tho
pressing current obligations OF the gov
eminent ore not to be met by promises
based upon the uncertain and indefinite
onorations OF thh new tariltIlaw. The
issue OF bonds, moreover. Ia not MP