The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-28
sxArrxE. 1osDAI, Jay. -
NssuHDLr rAIsE-

The effort OF Prof. Wilson In the
hcase on Saturday last to bolster up
f.,e Hayemcyer Law and his avowed
oplnion that his original bill. without
che 70 par cent. sugar tax. would have
produced sufficient revenue under nor
maj conditions. was justly ridiculed by
the Republican minority. His further
declaration that even now I'VE are
moving steadily and persistently to-
ward a surplus Is an example OF blind
disregard Of facts and figures OF which
only Bourbon Of the ancient regime
could be capable.
In the FIRST place II Ii impossible 10
conceive OF normal conditions" under
the present tariff. The act itself Gre
ates conditions abnormal and danger
Gus. An II passed the house 1t en-
ticavored to and In great measure
would have radically reversed the poll
icy followed by the United States for
over thirty years. Under this protee-
tive policy conditions had been estab-
lished which had become normal. To
substitute a policy directly opposite
and then assume that conditions would
remain az Heretofore Is a patent alb
Eursilty. The substitute involved. nay
forced upon the people. an abrupt
change In every department of COM
nserciai and industrial activity. Per-
haps in twenty or thirty years. IL MIR.
Wilson's tariff had been passed un-
amended. the new conditions forced
upon the country by 1t would have be-
come normal. That they could do so
In q day or a month or year, is an
assumption wholly without the scope OF
sound estimates for revenue purposes.
But the most startling exhibit Of will
fnl obaiquity or blind disregard of facts
Is the statement that the country Is
knowing steadily toward surplus"
and the denial thpt the treasury is In
distress from lack OF revenue" The
fscts are that last year the revenue
fen behind authorized and necessary
expenditures over so, 200. 600. It was
made up by sale OF bonds. ostensibly
20 keep the gold redemption fund In
tact. Since the present fiscal year be-
gan the revenues are nearly 1900 goo
behind. and the deficit this month In
already 5000. 900. II this is moving
steadily toward surplus. 1t would be
interesting TO know how that conc.u-
sion IL dednced and when the surplus
(which was a source of 80 great anx-
Lefty In Democratic circles few years
ago as TO evoke an executive appeal for
its reduct.on-wi!l he shown In treas
ury statements.
The senate added to Prof. Wilson's
bal several hundred amendments.
Every one of these was an Increase Of
duty Or n restoration OF duty urson ar
tseles made fire. by the original meas
ure. Even with all these revenue-pro-
ducing aids The bin Is inefficient. in
TACT failure FOR the purposes intended.
The country Is rlunxing into debt.
Had II not hesn, for the unauthorized
Use o. the national credit by the issue
and sale Of sioo. eoo. 600 worth Of bonds.
the ordinary creditors OF the govern
nsent would have been Compelled 10
wait for and take their pay In turn
a. IL canfe In. and treasury warrants
ana drafts like those OF many countries
and municipalities would have been
hawked about ard sold AT n Discount.
Nothing bot tho terrible gold resunp-
tioa sund has thus far saved the ad-
fnintstraticn from suspendinE presen,
payment Of curren. obligations. Were
congress to cut the endless chain. of
ssssd redenapt.oa by forssidatng further
bond sales. not oely would the present
SID reserve he promptly exhausted.
but within niaety days the treasury
wSaAiA he unable 10 pay current ex-
pe~assares from lack - revenue. I, Is
q surplus of obligations not os revenue
toward whseh the country is moving,
10 which in fact it has hong since ar
rived.