New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-07
THE QUESTION OF REVENUE.

A heavy deficit in August cOnfronts the party
which has reduced the tariff and is anxious to
prevent necessary reimbursement OF duties
This feeling goes far that sincere and pa'rl-
otto men who are to-day arming themselves
to fight against the candidate of the Demo
cratic party say that they cannot vote ior
Mckinley. But what remedy have they TO
propose? Let us meet this question: Demo
cratic friends, in the same spirit of devotion to
public welfare which is shown in rejecting the
POpulist nomination at Chicago. No one can
deny that 1t is absolutely necessary TO raise more
revenue. Our Democratic friends will not an
swer that President Cleveland and his admin
istratve officials have sQuandered the puDnc
money. The last Democratic Congress. the one
which enacted the existing tariff, judged ii neces-
sary TO appropriate for the public need as much
money as was appropriated by any previous
Congress. or by the last session, and President
Cleveland approved the bills passed. 1t cannot
be claimed by our Democratic friends that the
appropriations were wanton and wicked waste
of public money TO the extent Of S23,oOo,ooo IN
two months, or $13S,0o0.0oo a year.
If more money must he raised how is it to he
done? An income tax is assuredly not ready
| remedy. If constitutional amendment should
be attempted. it would take some years to get
such an amendment approved by the requisite
number of States. even If public opinion were
ready TO sustain it; and meanwhile the Govern
| mcnt must have revenue. 1t would be found. in
| fact that great many States would refuse 10
pass such an amendment and the tax proposed,
which some think popular would probably be
found the most odous and unpopular Of all forms
of taxation. as it was thirty years ago.
The remedy must come quickly, and the prac-
teal choice is between a heavier tax on beer
and different duties on imports. The beer tax
is strenuously opposed by great num-
her Of persons because il would directly
| affect the expenses Of very large share
Of the working people A wise change OF du-
ties on imports, on the contrary, would tend
to give them better employment and bet
ter wages Whatever theories men may cher
ish recent experience has proved that tariff
which permits the closing of many establish
ments by foreign competition does force down
the rate of wages paid to American workingmen
generally Men might he certain that 1t must be
so if they considered that workers deprived OF
one employment must pcrf0rce try to crowd
| into others. even by consenting TO work for less
| than other men receive The alternative. then,
| is between change which tends TO raise wages
and change which tends to increase expenses
| Of a large proportion of working people Is 1t
| possible to doubt which policy the workingmen
themselves would support! In the long rum no
| party can sustain a policy which they oppose.
The question has another phase, which Is
| equally important. This country Is developing
| its untold resources by using foreign capital, and
| thus has to pay each year for the use Of such
capital sum which may be roughly estimated
| at 100000 900. Whether it is larger or smaller
matters not for the present purpose: exports must
exceed the true and not the nominal value Of
| imports by abOul that sum, or gold must be
| drained away to meet the interest due abroad.
| The existing tariff has far encouraged i'm
| ports of foreign goods that the nominal or re-
| ported value during the last fiscal year about
| $50 millions. and the true value after allowance
for undervaluations. at least 50 millions more.
At the same time. partly by cutting off trade re-
sultng from reciprocity arrangements with
many countries, it diminished exports by many
millions. The result is that gold has been going
abroad and has therefore been drawn from the
Treasury, and consequently Government has
been forced 10 add to the National debt. Is 1t
possible for any patriotic Democrat to deny that
il would be wise to change the balance by offer
ing less encouragement 10 imports Of goods which
are produced in this country? Putting theories
of Protection and Free Trade aside for the mo-
ment is il not plain that the present tariff stmu-
latcs imports so far as to endangcr the sound
ness of business and the sOlvcncy Of the Treas.
ury?