The islander. [volume] (Friday Harbor, Wash.) 1891-1899, 1897-10-28
MOUNTING UPWARD
RECEIPTS UNDER NEW TARIFF
MAKING GOOD GROWTH.

MAKING GOOO 0nOViH
Enormous Imports Prior to Its Passage
Made First Receipts Light, But They
Are Steadily notwithstanding
Receipts Larger Than Under Old Law.
E. F. PARSONS, Special Correspondent.
Washington, D. c. The second
month of the operations OF the Dingiey
law proves extremely satisfactory to
treasury officials and to the friends gen.
orally of the measure who have had an
opportunity or occasion to examine the
result of it's operations. treasury
receipts in this second month OF It's ex-
istence, September, are greater than
those of the second month of the VIII
son law. despite the fact that the Will
son law found warehouses, docks and
foreign vessels waiting to pour In enor-
nous stocks OF foreign goods to add to
it's earnings the moment it should come
into operation, and that the Dlngley
law found conditions precisely reversed
and the country already flooded with
foreign importations. The receipts IN
Septembe 1897, the second month OF
the Dingley law, were 2l,3l9,644,
while those of October, 1894, the second
month of the Wilson law. were only
$40, 1920.
81 think we have every reason to be
gratified 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 filled with foreign goods In the
few months prior to the enactment OF
this law, yet the September receipts
exceed twenty-one million dollars and
the deficit for September is but trif1e
over three millions. 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 extremely gratifying one. 3"
"And justifies the belief which you
have formerly expressed that the reven-
ues under the law will in time prove
sufficient to meet the running expenses
of the governments
"Undoubtedly. | think there is no
question about that. l have believed
that bv the end of the calendar year
conditions will be such as to bring the
revenue of the government up to its ex-
penditures and September's develop
ments certainly strengthen that belief
in my mind, and / think fully justify
it.'
Not only are the earnings Of the
Dingley law in its second month In ex-
cess of those of the Wilson law in tire
corresponding month of its operations,
but the deficit is far less. The deficit in
the second month of the Wilson law
was $13, 573, 800, while in the second
month of the Dingley law it is but 3d.
432,717,or less than % per cent OF that
of the second month of the Wilson law.
When the conditions under which the
two laws went into operation are COM
pared, this showing of the earnings OF
the new law proves very gratifying to
those desiring to see it bring the treas
urv again in condition in which its
receipts will meet current expenditures
and enable sufficient accumulation to
provide for the sinking fund which
has been untouched during the entire
period of the operations of the Wilson
law.
The growth in receipts since the new
law went into effect has been steady
and gratifying. The receipts OF the
second month are 1919 per cent in ex-
cess of the receipts of the first month.
This growth is not only gratifying but
convincing as to its prospective earn
ing capacity when conditions become
normal. The earnings during the sec
ond half of the month of August were
slightly in excess of nine million dol
lars; those for the first half Of Septem-
Der were little above ten millions,
while those for the second half of Sep
tember were over eleven millions The
figures in detail are as follows:
Second hall August. ....f 9,o4o, o9S
First half September. ..... 10000, $50
Second half September. II ,O09, 646
A study of the daily receipts during
the second month of the new law, Sep
TENDER, show steady 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 trihe
during the last ten business days OF
September, 1897, of the earnings of the
WilSon law in the last ten days of Sep
TENDER, 1896. Here are the figures Of
the last ten business days of Septem-
Der, 1897, under the Dingley law COM
pared with the last ten business days
of September, 1896, under the Wilson
law:
1896. 1897.
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