Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1895-08-21
$taunto1t Spectator.
WEDNESDAY, AUGUSTA
Government Revenue Improving.

Government Revenue Improving.
The New York Herald says that
among the many assuring evidences of
returning prosperity in the United
States the improved outlook of the
governments revenue deserves special
notice at this time. The autumnal
harvests and the consequent healthy
stimulation of business and of our
foreign commerce are not far off. Their
full effect in improving the receipts OF
the national Treasury, however, has
not yet been experienced. And it is
therefore particularly reassuring to
find that at this period of the year the
revenues of the government have been
increasing and increasing quite adj
ly.
in April the customs receipts were
$12, 453, 0S6; there was no important in
crease in May, while in June they were
s12, 1870, AS. But in July they went up
to $14,O76,9S4. During the present
month the receipts from customs, up
to the close of business Wednesday were
STAG, 466, and at this rate the total re-
ceipts for August will be SIS, Ats, 63S- -
During the three years of the Mckln-
ley law, ending with June, 1894, the
customs receipts averaged $40, $50
annually. which is less than the rev
enue that will be yielded by the Will
son tariff during this calendar year if
the present rate of customs receipts
continues until January 1, 1896.
There is no reason to fear that the
revenue derived from this source will
decline in volume, but several reasons
for anticipating gradual increase OF
customs receipts. The country has
been until recently living from hand
to mouth"-ever since the panic o.
1898. The poor harvests of last year
greatly retarded a revival of trade, and
it was not until the present summer
gave promise of better harvests that
business began in earnest to resume its
normal conditions. AS the crop out
look is now more encouraging than it
has been for many months, it is not
presumptuous to expect an early and
lasting recovery of all industries, with
the augmented activity of which the
revenues of the government must neces-
sarily be augmented.
This conclusion is corroborated
strongly by bulletin issued by the
Bureau of Statistics on Tuesday last,
in which it is stated that the total
value of the exports of our domestic
merchandise during July last was $780,
437, 438, against $29, O32, 099 during July,
1894. 1t is true the improvement in
our export trade, which these statistics
show has recently set in, is not large.
But it seems to be significant increase
-one likely to soon become more
pronounced. When our manufacturers
have had a little time to reap the bene
fit of the free raw materials granted by
the new tariff, and the new GODS iesfo5bsaf
markets Ss ii IN ffIff7e coming autumn. it
practically certain that our expor
trade will pick up rapidly. With it
improvement the revenues must b
benefited, because the importations O
.dutiable merchandise will increase
and all the activities of internal trade
which swell the Treasury's receipt
from internal revenue, must feel tn
impulse of new life-blood.
1t was frequently pointed out by e1
perts last spring that when the large
quantities of whiskey withdrawn fror
bond in 1894, before the new tax tool
effect, were exhausted, the interna
revenue from this source would in
crease. During May last the receipt
from internal revenue amounted t,
$40, 754, 053. and to trifle less in June
But in July they went up to 12,S96,
405 25, and so far during the presen
month they have been coming in a
very nearly the same improved rate
The internal revenue collected for tn,
first thirteen days of this month wal
$5,166,98 90. 1t will be seen, there
fore, that since last spring the interna
revenue has improved almost as de
cidedly as the revenue from customs
duties.
Without INDUCING in any roseatt
predictions, it is clear, therefore, thai
the finances of the nation are improving
and public confidence is strengthened
1t is time for calamity howlers to CEASE
their cries. The Philadelphia Ledger
in its leading editorial Thursday refers
to the new and favorable conditions
which now confront the country. II
points out with great force that "as
the revenues of the Treasury are
steadily increasing and as our exports
of cereals will soon begin in enormous
volume and value, causing the balance
of trade to be in our favor and bills OF
exchange to be plentiful in our fnan.
cial centres" there is no ground for
political partisans to question the sta
bility of our national credit. The wave
of prosperity now rising over the coun-
try cannot be arrested by all the short
sighted prophets of evil. The Treasury
is all right and will take care of itself