New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-19
ENTIifATES STILL UEFERRkO.

Tho pondcrous volume prepared for the sen
ate Finance Committee by the Bureau OF STA
tistfas proves a surprise in two ways. III ei'eS
n mass OF detailed comparison such as mas ho'
bcen given as fully before. and lroDapiy may
NOT ba asked again. and yet with all thls wealth.
of detail the volume gives not the ieas' luea
what revenue the committee expects VIII oe
realized from the bill reported. When the meas
IRE WAS reported 10 the Senate no DEFINITE state
n,ent WAS offered. although Senator Aldrich
WAS said 10 have expressed the OPINION tha'
the measure would add about S3o.oOo'Ooo 10
customs receipts and as much more TO lh'erhai
revenue. But the Treasury experts were s'rug-
Cling with the figures. and no dennlte eS'inia'e
had probably been completed. linen IL was
said that owing to delays and great NUM-
her OF errors detected, the statement could not
no made public yet. but Senator Aidrich was
expected 10 embody the opinion or the commit
tee I'm n speech this week 1t is now stated 'ha'
ne will not speak until the bill Is taken UP ior
discussion in the Senate.
II IS not discreditable, but rather an evidence
of prudence that the Senate Committee j. ho'
in haste TO submit a definite estimate oil INC
revenue 10 be expected for the frst year.
Owing 10 the anticpatory imports. which are
already large and of which the value yet 10 ar
rive while the bill Is pending cannot he calcu-
lated with much approach 10 accuracy 'he
revenue for the first year must ne pEopellid'
ical Eut II may be helpful 10 many 70 observe
that in 1850, when the imports OF goods on
which du,ies were expected 20 be advanced hdd
continued for several months, the subsequent
sbripl,age of revenue was smaller than most
of the observers had expected. II VIII De re-
mernbered that the House passed It's bill in May,
with lis remission Of the duty on raw sugar
which had yielded S54,000,O0 revenue III tllat
ascol vear Ii was intended 10 cut off that part
of the revenue and with some other reductions
20 mako q material decrease in the receipts
Tho hill did not pass the Senate until SeptcIn-
her 10 and was retained still longer III confer
ence During all these months both before
md after the beginning Of the new fiscal year
imrorts Of goods on which duties were TO BE
advanced came in largely. and the revenue Tor
both fiscal years was materially swelled. 50
thar In the five months ending with October
customs receipts were about Sll3ooop'
though about $500. 100000 had been the maxi
mum for twelve months Yet with the sugar
duttps cut off the revenue was not even III lha'
rear reduced more than S4OoVvoo
What Commissioner Wells used TO cal IN"
elasticity Of the revenue has made trouble
with a good many calculations. Official and
otherwise. Conditions remaining the same.
peonle ipcrea sing every year in population ana
IN wealth would naturally increase their I'M
ports and consumption Of many foreign prod
ucts year OF general depression would cut
down the receipts from that source greatly, as
they were cut down in 1893. But n year OF
rapid recovery from depression. and the general
expansion Of business and industries. are sure TO
expand beyond ordinary expectations the i'm
uorts Of many hutiabe classes and the revenue
derived from them. Such year OF rapid i'm
provement may not unnaturaly come as soon
az the new tariff has been passed. and If it
does the customs receipts may considerably
exceed expectations
No estimates of revenue under n new bill. by
which duties are raised on many important
classes OF goods with the express purpose OF
limiting impOrtations and giving better defence
10 home industries can be safely based on
quantities or values imported during the pre-.
yious year II will be found much more help
full TO watch the course OF importations In 1890
end the following years. when similar adj
vance Of duties was effected on many classes