The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-10-09
NEW LAW DOES WELLA
Increase of Revenue Under the
Dingley Tariff.
Vast Importntions Under the Wilson
LAW Being Absorbed and
Fresh Imports Now
Coming In.

Especial Washington Correspondence.l
The second month of the operations
OF the Dingley law proves extremely
satisfactory 10 treasury officials and
to the friends generally OF the measure
who have had an opportunity or 90
casion TO examine the result Of its OF
erations. Treasury receipts in the
second month Of its existence, Septem-
Der. are greater than those of the sec.
ond month of the Wilson law, despite
the fact that the Wilson law found
warehouses, docks and freight vessels
waiting 10 pour in enormous stocks OF
foreign goods 20 add 10 its earnings,
the moment il should come into oper-
alton, and that the Dngley law found
conditions precisely reversed and the
country already flooded with foreign
importations. The receipts in Septem-
Der. 1897, the second month Of the
Dingley law, were $2l,3l0,64i, while
those OF October, 1894, the second
month OF the wilson law, were only
Sl9.139,240.
II think we have ample reason 70 be
gratifed with the operations Of the law
thus far" said Assistant Secretary
Howell, OF the treasury department.
'The receipts for September are graft
fyingly large in view Of the conditions
under which the act went into effect.
AS everybody knows the country has
been filed with foreign goods in the
few months prior 20 the enactment OF
this law, yet the September receipts
exceed 100000 and the deficit for
September is but a trihe over So 100000.
! Considering that the period which this
covers is only few weeks removed
from the close Of the long period OF
heavy anticipatory importations, |
/ think that the showing is an extreme
/ ly gratifying one"
"And justifies the belief which you
have formerly expressed that the
revenues under the law will In time
! prove sufficient TO meet the running
expenses of the goyernment?'
Undoubtedly l think there is no
question about IL. / have believed
that by the end Of the calendar year
conditions will be such as 60 bring the
revenue Of the government up 10 its
expenditures and Septembcrs develop
ments certainly strengthen that be-
lief in my mind, and think fully JUS
tify IT,"
Not only are the earnings Of the
Dingley law in its second month in eN-
cess OF those of the Wilson law i'm the
corresponding month OF its opera
ntions, but the deficit is far less. The
| IL. 4 ~
son law was S13,513,s00, while in the
second month Of the Dingley law il is
but 3,432, III, or less than 25 per cent.
of that OF the second month Of the Will
son law When the conditions under
which the two laws went into operation
are compared, this showing Of the earn
ings Of the new law proves very crafty
ing TO those desiring TO see il bring the
treasury again i'm condition i'm which
Its receipts will meet current oNpendi-
lures and enable sufficient accumula-
tion TO provide for the sinking fund
which has been untouched during the
entire period OF the operations OF the
Wilson law.
The growth i'm receipts since the new
law went into effect has been steady
aud gratifying. The receipts OF the scc-
ond month are 1879 per cent. in ex-
cess of the receipts Of the first month.
This growth is not only gratifying, but
convincing ms TO its prospective earning
capacity when conditions become nor
NAL. The earnings during the second
half Of the month Of August were slight
ly in excess of S0.OOO,O0O; those for the
first half of September were a little
above $4,000, 900. while those for the
second half OF September were over
81 100000. The figures in detail are
as follows:
Second half August................ S935.Ga.
| First half OBSERVATION-DISCLOSURES. lO,HUl,g9.
Second half Septcmbcr..,,.....,.. ll,Q03.Gf
A study of the daily receipts during
the second month OF the new law, Sep.
TENDER, show a stendy growth during
that month. Indeed the receipts of the
closing ten days of the month seem to
have reached almost the normal figures
OF the corresponding dates under the
Wilson law, being within triilc during
the last ten business days OF Sep
, lember 1897, OF the earnings OF the
Wilson law i'm the last ten days OF Sep
TENDER, 1896. Here are the figures OF
the last ten business days or September
: 1897. under the Dinglcy law compared
L.. ~ ...H A..fs