Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1897-01-01
TRUTHS HALF TOLD.
MISCHIEF IN FIGURES WITHOUT
ACCOMPANYING FACTS.
literal Figures Do Not Give the Rea.
sons Why the Revenues Under the
Mckinley Law Fell OF During the
Years 1893 and 1904.

Mckinley Law Fell OF During the
Years 1893 and 1904.
Fairness in Facts.
The following statement relative to
the revenues during the years 1893 and
1894, while 1t contains the literal fig
ures, ignores facts which should not be
lost sight Of ut the present time:
There are two facts in connection with
the deficit which ought to be considered
by those who are opposing a general
tariff reconstruction, and that is that the
deficit assumed large proportions under
the Mckinley act, and that it has grown
steadily smaller under the Wilson net.
The fiscal years of 1893 and 1904, during
both of which the Mckinley act was in
full force, showed deficits of 81, 76G,904
and $72,3325,44S, respectively. The de-
felt for the year 1895, ten months Of
which were under the Wilson act. was
SA,53S,0O0, and for 1896 was $22S,57S,-
GIL. This improvement would seem to
indicate that with ordinarily good times
the Wilson tariff would yield nearly if
not quite all the revenue needed. The
fall in the deficit from So 1925 ,44S, in
1893, to $2s,57s,G71, in 1896, and that,
too. during a period of great business and
industrial depression is a fact that ought
to be taken into account by our tariff
doctors.
The reasons why the revenues under
the Mckinley law fell off during 1893
and 1894. particularly during the latter
year, We're that imports fell Off, and
imports fell off because the country
understood that there would be a radi-
cal reduction of duties as soon as the
Democratic President and Congress
had time in which to devise a tariff
law. The result was that merchants
imported only those goods which they
could dispose Of before the law could
be changed and so reduce the duties as
to cause u great loss in whatever goods
We're on the market or had been enter
ed for consumption before the Demo-
cratic tariff went into effect. When
the Mckinley law was in full force the
value Of dutlable merchandise import
ed and the duties collected were as fol-
lows:
Imports. Duties.
Year ending
June 80 ,'92. ssss55 ,526, ia s174,124So
Year ending
June 80, '93. 4OO,22s22,519 199,143,67s
The Importation of dutiable goods
began to decline in January, after the
election, and became very positive in
June, when 1t was known that the tar
if would be radically changed and du-
ties reduced. The value Of dutiable
goods imported during the fiscal year
which ended June 80, 1894, was only
5 1885, O3, and the duties collected
thereon amounted to 129,55S,s 500. Had
the importation of dutiable goods been
as large during the fiscal year which
ended June 30, 1894, as during the fiscal
year which ended a year earlier, when
the country was under the full tide Of
Republican prosperity, $%7O,OOO,OOO
more of revenue would have been col
lected under the Mckinley law, and
there would have been no deficit.
Most of the provisions of the German
act went into operation in August and
September, 1894. Awaiting the enact
ment Of the law with lower duties, TEL
of millions Of dollars worth of goods
were in warehouses. The largest bust
ness ever done in the custom house
was during a few days after that law
went into effect. The value of dutiable
goods imported during the fiscal year
which ended June 30, 1895, was 1884,
Z 1890, and the duties collected were
$149,450,00S. That is, upon an importa-
ton nearly $1OO,OOO.OOO larger during
the fiscal year 1s94-'95, only $2O,OOO,OOO
more of duties were collected. If, upon
an importation of merchandise of 1884,
100000. the Mckinley duties had been
imposed, $172,OOO,OOO of revenue would
have been collected, or $23,OOO,OOO more
than under the German act. The value
of dutiable merchandise imported dur
ing the fiscal year which ended June
30, 1896, was $409, 9G7, 2O4, on which
$159,516,275 of duties were collected:
yet there al n deficit of sos, 100000.
Under the Mckinley law IN importa-
ton Of $409,OOO,OOO of dutiable goods
would have yielded 5000, 1000 of rev.
enue, affording a surplus Of 500, 600.
Since June 80. 1896, the Importation of
dutiable goods has fallen off decidedly,
and the deficit each month averages
$6,OOO,O0O or more. The falling Off in
duties is due to the falling off In the
volume Of imports, as it was during the
period when it was known that the
Mckinley duties would be reduced and
the Industries Of the whole country
were paralyzed by the fear of lcgisla-
ton in the direction Of free trade.
Unless the purpose is to deceive, all
the facts in matters like this should be
given. If 1t is the purpose to mislead,
such statements as those above quoted
could scarcely be bettered. If made
in ignorance, which is more probable,
It shows that the man who remains to-
day the victim of the exploded free
trade heresy cannot deal fairly with
facts.-Indianapolis Journal.
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