Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1896-12-09
TARIFF AND REVENUE.
President Reaffirms the Statements
He Made "a Year Ago.

I desire to recur to the statements else
where made concerning the governments
receipts and expenditures for the purpose
of venturing upon some suggestions touch
ing our present tariff law and it's opera
ton.
This statute took effect On the 2Sth day
Of August 1894. Whatever may be its
shortcomings a complete measure OF
tariff reform, it must be conceded that 1t
has opened the way to freer and greater
exchange of commodities between us and
other countries and thus furnishes a wider
market for our products and manufactur-
ing.
The only entire fiscal year during which
this law has been in force ended on the
3Oth day Of June, 1896. In that year our
imports increased over those of the previ-
Gus year more than S6,500,000, while the
value of the domestic products we ex-
ported and which found markets abroad
was nearly $40, 900 more than during
the preceding year.
Those who insist that the cost to our
people of articles coming to them from
abroad for their needful use should only
be increased through tariff charges to an
extent necessary to meet the expenses or
the government, as we'll as those VINO claim
that tariff charges may be laid upon Sucn
articles beyond the necessities OIL govern
ment revenue and with the additional pur-
pose Of so increasing their price in our
markets as to give American manufactur-
ers and producers better markets and profit
by these opportunities, must agree that
our tariff laws are only primarily justified
as sources OF revenue to enable the gov
eminent to meet the necessary expenses of
it's maintenance. Considered as to it's suf-
ficiency in this aspect, the present law can
by no means fall under just condemnation.
During the only complete fiscal year of it's
operation it has yielded nearly So ,OOOO 600
more revenue than was received from the
-, &Io
was nevertheless, a deficit between our
receipts and expenditures of a little more
than s25, 900 OO00 This, however, was not
unexpected.
The Situation Last December.
The situation was such in December
(seyen months before the close Of the ifs
cal YEAR, that the secretary of the treasury
foretold a deficiency OF $17, 100000. The
great and increasing apprehension and tim
idity IN business circles and the depression
in all activities intervening since that
time, resulting from causes perfectly well
understood and entirely disconnected with
our tariff law or it's operation, seriously
checked the imports we would have other
wise received and readily accounted for the
difference between this estimate Of the
secretary and the actual deficiency, as we'll
as for a continued deficit.
Indeed, it must be confessed that we
could hardly have had more unfavorable
period than the last two years for the col
lection of tariff revenue. We cannot
sonably hope that our recuperation from
this business depression will be sudden,
but it has already set in with a promise
of accelleration and continuance.
I believe our present tariff law, if allowed
fair opportunity, will in the near future
WELD a revenue which, with reasonably
economical expenditures, will overcome all
deficiencies 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 OF
100. 600 600, a surplus of more than $128,-
O0O, 900 applicable to the payment of the
expenses of the government and which
must unless expended for that purpose,
remain a useless hoard, or, if not ex
travagantly wasted, must in any event be