New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-06
THE CHANGES AFFECTING REVENUE


In judging what duties and taxes are neces-
sary during the closing hours of action at Wash
ingtOn ii must be kept steadily in nina that
there are two influences Of opposing character
to be considered. One is that higher duties. the
consuming demand in this country remaining
the same, will tend TO cut down importatons,
and hence to render the returns from particular
duties smaller than any estimate based on
quantities recently imported. The advantage
secured for domestic producers should material
" lessen the proportion of consumption sup
piled by foreign works and II 1t does not Will
be demonstrably Inadequate Some estimates
NAV he formed of the probable extent of reduc-
lion from the record of imports under the Me-
Kinley tariff: close estimate where proposed
duties are relatively about as high as the duties
on that tariff, and one less accurate but still
helpful where duties lower than those or the
act of 1890 have seemed TO be justified by the
progress of home industry in meeting foreign
competition.
On the other hand. restoration OF prosperity,
which is the aim OF the proposed measure. would
materially increase the aggregate consumption
OF the people and thus their importations OF
those articles for which the country depends
chiefly upon foreign supplies. and In spite OF a
decrease in the proportion OF consumption so
supplied. would in part or wholly compensate
for that decrease. AS an illustration. the duti-
able imports during the ten months ending with
April may be roughly divided thus: OF food and
animals. raw materials and articles Of luxury,
SlG1.3OO 900. and oD this class taken as whole
duties will not be so far advanced as to cause
material decrease in the.share Of consumption
drawn from abroad. while the total home con-
sumption will much increase with return OF
prosperity Merely as a supposition it may he
reckoned that higher duties, in an unchanged
condition of business. would reduce imports 10
per cent or S16.jO0.OO0. but the restoration Of
full prosperity and activity in industry would
Increase the consumption 20 per cent. or 500
100000. resulting in net increase of about
$13,oO0.O0O in imports. and at higher rates OF
duty a large increase In duties may be derived
from this class
The other class embraces articles manufact-
ured in form for final consumption or for ma
ter:als Of further manufacture covering about
sl31. 100000 and on this class the proposed adj
vance In duties is greater and weuld cause a
much greater decrease in the share Of consump-
ton supplied by imports. Again. using con-
jectural figures only. 1t may be supposed that
higher duties would cut down imports - per
cent. III general CONSUMPTION the
same. or TO sos. 100000. but that restoration Of
prosperity and larger total consumption would
add about 20 per cent in this as in the other
class. making imports Sl17.SO0.OOO, or Sl3.2OO,-
900 less than last year. The material advance
N rates Of duties would then insure a larger
revenue than Is now derived on this class also.
There would still remain articles now free and
not included In this reckoning. which the new
tariff would subject TO duties. and on these, in
Gliding WOOL a considerable further revenue
nay be expected. because although high the
prospective duties on such articles are not pro-
hibitory.
Thus IL is easy 10 see that the fate OF the
proposed measure depends mainly upon Its abil-
fly to restore general prosperity and to lift the