The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-01-02
"For Revenue Only"

'FOr heNenue Onlys'
The tariff f-mongers, says the Philadel-
phia Record, affect to believe that the
bill "for revenue only" which was passed
by the republican majority in the house,
would, If 1t should become q law, increase
the receipts of the treasury by $40, 900, 900
namely, S14,0O0,OOO from the wool
duties, S14, ,0OOO, 900 from woolen manu-
factures, and sl2, 900, 900 from the hori-
zontal increase of 10 per cent. upon other
imports. This assumption rests upon the
mistaken notion that the quantities and
qualities of the imports would remain the
same as now. The absurdity of this
idea is to be seen in the fact that the
McEinleys tariff lin 1899, amounting to
10000, 900 pounds in round figures
yielded Il revenue Of some S., 900, 600. OF
these importations all but $4,000, 900
pounds consisted of cheap carpet wool.
The effect of the proposed restoration Of
duties on wool would be to again change
the current Of trade and to increase the
imports Of low-grade wool, to the prohi-
bitiOn Of the finer qualities. Instead of a
revenue Of S14, ,00O 900, the receipts from
wool would hardly reach half that sum.
But the statesmen and economists of the
committee on ways and means propose to
protect the American sheep growers by
high duties for the Encouragement of i'm
porations Of wool, and at the same time
to secure a large revenue from increased
importations of wool!
So with the preposterous estimate of an
Increase of Sl4, 100000 of revenue from a
partial restoration Of the Mckinley duties
on woolens, In 1898, the year of the
largest importation of woolens under the
Mckinley tariff, the revenue from such
imports amounted to little over $780,
900, 600. The revenues from woolens in
the twelve months ended December 81
next will amount to $50, 600, 900, judging
by the official returns for ten months of
the year. Is it reasonable to estimate
that under high protective duties de-
signed to discourage importations the
revenues from woolens would be as great
as they are under the existing moderate
tariff? Half Of the estimate of the in
crease in revenues from wool and the
whole of the estimate of the increase from
woolen imports may as well be wiped out
at once.
AS to the estimated increase of $12,-
900, 900 of revenue from the horizontal ad-
dition Of Is per cent. to the other schedule
of the present tariff, a more likely result
would be to diminish the revenues by this
process. The effect of the present tariff,
as the protectionists themselves loudly
complain, has been to stimulate imports
of dutiable goods and In doing so it's
obvious tendency has been to increase the
revenues from these goods. On the other
hand, the effect of partial restoration of
the Mckinley duties would be to check
and consequently to dimin-
ish revenues. AS experience is now dem
onstrating, the existing tariff Is better
producer of revenue than was its prede- |
cessor, whilst it has vastly diminishd the
burdens of taxation on the raw materials
of manufacturers and the necessaries of
living.
With the exception Of the small rev.
enues that could be scraped from dimin-
ished importations of wool, there is moth
ing in this Reed -Dingley tariff bill as a
fiscal measure. With what grace could
the president of the United States be
asked to sign bill ostensibly for public
revenue, but manifestly incapable of yield
ing a substantial increase of treasury re-
ceipts, and designed only to aggravate the
burdens of taxationY Whatever the senate
may choose TO do with this bill, the presi-
dent cannot be expected to become party
to a fragrant partisan job in the guiso of
fiscal legislation.
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