New-York tribune., 1896-12-29
4 REAL REVENUE TARIFF.


The remark that president. elect Mckinley will
certainly urge the enactment Of a true revenue
tariff is highly commended by those who I'M
derstand what hc means. and also by some who
do not understand, The conditions of the prob
lem have recently been stated, and yet are COM
pletely misunderstood by many. There is re-
qured more revenue than was needed four years
ago first, because President Cleveland by sell
ing bonds has increased the Interest 10 be paid
each year by S11 ,492 .6lj or nearly onclae.
The expenditures in the calendar year 1892
were S36S 100000. and this change alon- would
raise The requirements TO 379.5OO,OOo, if econo-
mics in all other expenditures were balanced
by necessary increase in certain outlays.
The country Is growing. lis coast defence
and naval defence require additional expendi-
ture and the people are certainly unprc-
pared 10 cripple these forces by denying adc-
quate resources. 1t IS therefore but reason
able TO expect that, with great economy IN other
branches Of the public service. there Will sill be
needed as much as was expended four years
ago besides the increase in interest due. But
there must also be some provision for small
surplus. in order to protect the country against
need of further bond sales in any time Of tenn
porary depression Nothing less than n revenue
of about $500 100000 can be expected to afford
reasonable safety.
With increased internal taxes apd with duties
on sugar not imposed in 1892 the country OBJ
tanned Il revenue in 1896 from these sources Of
about S2Ol. 800 600 leaving about $lss.jWoo
to be raised by duties on imports other than
sugar. What may be determined regarding
change in these duties need not now be con-
sdered for It will certainly be the policy of the
Republican party in any permanent measur. 10
look forward to reduction. when it Lay be- safe.
in the taxes which fall wholly upon American
citizens and upon them nearly III proportion To
population. instead of reducing those duties
which are in part paid by foreigners for The
privilege of selling in American markets. and
which fall almost exclusively upon those con
sumcrs Of foreign goods whose expenditure il
mcasu~a5ly proporl!oned TO their wealth II
may bc reasonably expected that existing inter
nal and sugar taxes. whenever prosperity *
wholly restored viii yield more than they yield
now. But there j. absolutely necessary. In or
der TO secure Thai prosperity and increase Of
Internal revenue. the restoration OF duties hy
which industries are defended. When a surplus
is thus assured remission Of part OF the taxes
borne alike by rich and poor will be duly con
sldcred
Thus the revenue which must N first he
raised by duties on Imports other than sugar
cannot safely be- put below Slss.jD0oo0, which
is oaly S3.O00OO0 less than The revenue from
customs in the calendar year 1892. 1t does not
follow that duties must be restored in all re-
spects as they were then. Some were then
necessary for the defence or the establishment
of industries, and then yielded large revenue,
which need not now be reimposcd at the same
rate TO attain the same measure OF defence and
would not now yield much or any revenue at
that rate. But If revenue formerly secured Is
thus sacrificed or unavoidaby lost IL follows
that nearly as much greater revenue must be
obtained by other duties exclusive of those OH
sugar. because the aggregate cannot safely De
allowed to fall much below the customs revenue
OF 1892 until prosperity can be definitely and
certainly restored.
Dutiabe imports In 1892 were $780, ,O24
in value. not Including sugar and yet the excess
of exports over imports was S97. .4S9. 70j-an ex
cess quite large enough In any time of ordinary
prosperity to insure against dangerous loss Of
gold. This year the dutiable imports. including
sugar, have been only about $557 100000, but
wool. lumber and other articles Of Importance.
from which a good revenue might and should
be- derived. are on the free list. 1t Is to be
expected that such articles will again DE made
dutlabe. at such rates will yield the most 10
the Treasury. and al the same time promote
that restoration OF general prosperity which Is
necessary TO bring adequate returns from the
internal taxes. The adjustment OF these duties
and those on manufactured products IS always
a task Of difficulty, but IS easier now than ever
before. because the whole people have learned.
and the managers of great Industries themselves
have learned through the experience Of pros
perty in 1892. and of unprecedented adversely
since, what rates Of duty are now best calculated
to promote the general welfare.