New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-03
BIGGER GETS THE DEFICIT.
APRIL ADDED ALMOST NINE MILLION
DOLLARS TO 1T.
A cope DISAPPOINTMENT no THE FRIENDS OF
THE WILSON LAw-NO SIGN OF SECRETARY
CARLIsI.Es COMFORTABLE SURPLUS
COMPARISON OF THE TREASURY
RECEIPTS UNDER THE
M'KINLEY LAW.
fey TELEGRAPH To THE rRIBuNE.l

icy TELEGRAPH TO TIE TRIBuNE'I
Washington May 2-The cose OF the eieh'"
month OF the operation of the new laiii "a"
was sore disappointment to its friends Ihey
had been predicting that the month OF April wou!d
show the comfortable surplus OF when secretary
Carlisle spoke in his communication TO congress-
But they discovered. when the closing stateine. Vi
the month was made public yesterday. that ,na'
April prediction sort OF Aprii-fooi ala''' io'
instead Of a comfortable surplus for the month";
was a deficiency of ss7Ois 50. And this at the end
OF the eighth month Of the operation OF the new a"
There have been only two or the months Oh It's
history In which II has made as bad sho"i"s
though in a single month since IL went nv
effect has it produced sufficient money 10 NEE. 'u'
rent expenses II will be remembered that by
solIeezlnglown" process in the closing days OF last
month the apparent deficiency was momentariy IT,
ducel 10 less than a million dollars But 'h'S "a'
such forced effort that reacuoh set !" VIZ
quickly and the deficiency in the month just ehueu
IS more than any surplus which the mos, sansu'"-
friends Of the act had dared expect
Not only has the new law proved disappointment
hut It's friends now freely admit that there VIII De
n necessity for legislation when Congress '"ee'' "
Increase tn. receipts OF the Treasury Since '.e ae'
went into effect II has produced deficiency vi S'-
273 lsG Il has actually produced less revenue anu
greater deficiency than did the Mckinney la" III inc
CORRESPONDING months OF the preceding year. "hch
were the very worst months in the history vi .'"'
inv II was the boast OF the friends OF the ne" Id"
that IL would at least "Io what the Mckinney Ia"
did not do-produce sufficient revenue 10 meet ."e
running expenses OF the Treasury 1t was III inc
months which succeeded the meeting OF the i-ii''
Corrress with its promise OF tariff reduction that
the receipts " the Treasury fell under the Mchi'e'
law 10 their lowest known point up TO tna' UNIV ~
the course the months from the meeting III spe0'''
session OF that Congress Until the country khe"
inst what the new tariff would be, the importatiohs
fell to almost nothing and the receipts OF the Treas
urv ., loss than they had been known in quarter
Of a century Those memorable months or shortage
under the Mckinley law were from August 1885, 10
May lS9l Yet the receipts under the new ia''i
law with every hing in its favor. are actuaiy les'
in it's eight months Of exst'rce than they were III
the eight worst months Of the Mckinley law.
I, seems almost impossible believe that a new
law going into effect this one has win the
shelves OF the country empty, AMI the importers
standing ready 20 pour In the foreign goods at the
signal Of the passage Of "A new tarin blll shou!i
fail to produce a good revenue FOR the hrst ie"
months Yet II has failed to produce as much rev.
orue IN the eight months u history did the
Mckinley law al "A time when banks were breaking.
business houses closing AMI importers suspendihS
operations Indeed. It Is impossible to find In the
entire history OF tho Mckinley law from beginning
- end any eight months consecutive or otherwiSe'
in which the aggregate receipts were as small as
orc those since the new law went into effect
IN. following table shows the monthly receipts Of
tho Treasury since the enactment ~ the Mckinley
av, and Will enable the reader TO see AT n glance
| what the workings OF the Mckinley and Wilson
laws have been He Will see that from the enact
| mon, OF the Mckinley law un'il the meeting CAu-
gust lSq7, Of the Democratic Congress whose MIS-
sion was the destruction % the tarin. the receipts
s.i,,rn fell below &ntoo010 u month. never as low
os g., cn0a Tho moment that Congress met how
ov.r tho receipts dropped 10 the unprecedentediy
,r", pnnrr.ss vas considering the tariff continued
"A, uuprcceiontelly low figures. II" Will further OBJ
| f,vx -
surpasscd In their unsatisfactory showing by the
rrc,ipfs under the new law. and that no eight
uouths' pcroI I'm the entire history OF the Mckin-
| low l,w has produced such small receipts as the
.,gh, months ~ the law. can any month be
found in the record OF the o.d law which produced
| such small receipts a those or several or the
months under the new iaH.