The record-union., 1896-12-08
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THE TARIFF.
Revenues Should Only be Sufficient to
Meet Necessary Expenses.

desire to recur to the statements
elsewhere made concerning the Govern
ments receipts and expenditures for
the purpose of venturing upon some
suggestions touching our present tariff
law and its operations. This statute
TOOK effect on the 2Sth day of August
1871. Whatever may be it's shortcom-
lngs a complete measure of tariff re-
form, it must be conceded that it has
opened the way to freer and greater
exchange of commodities between us
ana other countries, thus furnishing a
Wider market for our products and
manufacture
The only entire fiscal year during
winch this law has been in force ended
on the 3Oth day of June, 1896. In
that year our imports increased over
those of the previous year more than
Sb,oOo,OOO, while the value of the do
mestlc products we exported and which
found markets abroad was nearly $40. :
ooo,oOo more than during the preced-
ing year
Those who insist that the cost to our
people of articles coming to them from
abroad for their reedful use should onIv
be Increased through tariff charges to
*
penses of the Government, as we'll as
those who claim that tariff charges NAV
be laid upon such articles beyond the
necessities OF Government revenue and
with the additional purpose of increas-
ing thelr price in our markets as to
give American manufacturers and pro-
ducers better and more profitable op-
portunlties, must agree that our tariff
laws are only primarily justified as
sources of revenue to enable the Gov
ernment to meet the necessary expenses
OF 1t maintenance.
Considered as to it's sufficiency in
this aspect, the present law can bv no
means fall under just condemnation
During the only complete fiscal year of
its operation it has yielded nearly S.
OOO,O0O more revenue than was re-
ceived from tariff duties in the preced-
ing year. There was, nevertheless. a
denclt between our receipts and ex-
penditures of little more than S2J.-
UUO,ooO This. however, was not ex-
pected. The situation was such in De-
cember, seven months before the close
OF the fscal year. that the Secretary of
the treasury foretold a deficiency Of
HlIOOo,OoO. The great and increasing
apprehension and timidity in business
circles and the depression in all activi-
ties intervening since that time result
ing from causes perfectly well under
stood, and entirely disconnected with
our tariff law or its operation. seri-
ously checked the imports we would
have otherwise received, and readily
account for the difference between this
esS a q Of
tual deficiency as well as for a con-
tinued deficit Indeed, it must be con-
fessed that we could hardly have had
more unfavorable period than the last
two years for the collection of a tariff
revenue.
We cannot reasonably hope that our
recuperation from this business depres-
sion will be sudden, but it has already
set in with a promise of acceleration
and continuance. 1 believe our present
tariff law. if allowed fair opportunity,
will in the near future yield a revenue
which, with reasonably economical ex-
penditures will overcome all deficien-
cies.
In the meantime no deficit that has
occurred or may occur need excite or
disturb us. To meet any such deficit
we have in the Treasury. in addition to
gold reserve, one hundred million.
surplus of more than one hundred and
twenty-eight millions of dollars ap-
plicable to the payment of the expenses
OF the Government and which must.
unless expended for that purpose, re-
main useless hoard, or, if not extrav-
agantly wasted. must in any event be
perverted from the purpose of it's ex-
action from our people. The payment,
therefore. of any deficiency in the rev.
enue from this fund is nothing more
than its proper and legitimate use.
The Government thus applying sup
plus. fortunately in it's treasury, to the
payment of expenses not met by its
current revenues. is not at all to be
likened to man living beyond his in
come, and thus mourning debt or en-
croaching on his principal. It is not
one of the functions of our Government
to accumulate and make additions to
penditure. With individuals it is the
chief object of struggle and effort. The
application of an accumulated fund by
the Government to the payment Of it's
running expenses is a duty. An indi-
vidual living beyond his income and
embarrassing himself with debt, of
drawing upon his accumulated fund of
principal. is either unfortunate or i'm
provident. The distinction is between
a government charged with the duty
of expending for the benefit of the peo-