New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-01
DEFICIT STILL PILlNG W.
TWO AND A HALF YEARS of LIE
WILSON LAW
INTERESTING COMPARISON BETWEEN I'D W.
Suits AND THOSE OF THE GKISLEY LAW

INTERESTING COMPARISON BETWEEN ITS RE-
srrrs AM THOSE OF THE 'MKrHLEY LAW
FOR THE SAME LENGTH OF TIME
TB1 TELEGRAPH TO THE TRiBuNEl
Washington Feb 2s-Two and half years Oh
the operation OF the Wilson Revenue law emu WI"
TODAY The story OF those thirty months toiu III a
single line Is n deficit OF s13oCOlcoo. or an aFe.
shortage ~ sIu 600 n day President Mckinney VIII
find on assuming the duties OF his ONCE suIpl"'
of n little more than sl000oONO In excess OF ','e
gold reserve: but this has been obtained by 'ne
sale OF bonds which brought into the treasury
1928. i5i 2s6. A.,
The month OF February was no exception 10 ','o
general rule The deficiency for this month "
round numbers 100000, bringing the totai ue
hciency for the two and a half years OF the WILSON,
law above sl90OOOOU This showing Is IN marfe'
contrast to the record OF the Mckinney ia" "''C"
during the first thirty months OF It's operat'o"' NV
duced n surplus OF ,-5.5Os.5l5.
The Wilson law has been failure In It's prouuc,
,ion Of revenue both as to customs receipts ana
internal revenue. Reducing tarin rates upon '''
assumption that reduction would so stihula'e III,
portatIons as to increase the customs revenues IL
I'm fact reduced the net collections at the cuS'o,
houses Increasing the Internal revenue taxes. II
has collected less internal revenue than the III"
which preceded IT, In both the customs ana t'e
internal revenue branches receipts have fallen De-
low the receipts OF the Mckinley law III .he CUT
responding period OF It's history This IS the Hoie
surprising because OF the enormous increase III
impor atoms The customs receipts III ,he u, .. W.
and q half years of the Wilson law fell slW"o"
in round numbers below the customs receipts In
tho first two and a half years OF the Mckinney
law. The internal revenue receipts under 'he y" ~
son law fell SO 100000 in round numbers oeio" the
internal revenue receipts In the hrst TWO anu
ha.- Years OF the Mckinley law.
A study OF the operations OF the wilson law III
hat t.s
in the earlier periods OF its history that II would
Increase its receipts and would In time come "
meet the full running expenses OF the poNv'n-
ment were not well founded. The customs coliec'
lions under this law in its first month were sio-
tons averaged about siS 100000 a month. During
the last six months they have averaged less man
TO $40 794l2 while in November they reached the
unprecedented low figure OF ss,9SoS5 a.,
In the totals OF Internal revenue receipts tne IA"
is equally disappointing. The receipts OF the last
thirty months have fallen s75ooOOOC beiow those
for the corresponding period of the Mckinney law
despite the fact that the present law leves tx
Of s. 10 gallon on spirits whiIe the rate under se
monthly receipts frons.internal revenue under the
we're nearly $l3OOOCoO while under the present law
they have averaged sloOc.Ooo a month. m
Another curious development OF the Wilson law
Is that although it's trainers asserted that 1t would
relieve the people OF the payment OF duties on
imported goods. 1t collects duties much larger
proportion OF the goods brought in than did the
Mckinley law. Under the Mckinley law from 80
Of duty In the fiscal year 1892 the percentag: Of
free irnportations 563l per cent. and in 1894
1873 per cent In the fiscal year 1885 the first
year OF the Wilson law. the percentage OF goods
coming in free OF duty was 5l55 cent. while in
1896 only 1886 per cent OF the total importaions
anne In free.
The following figures show the receipts under the
Mckinley and Wilson laws during the first two and
a half years of the operation of each
Wilson law. Mckinley law
Customs ................S3 g2 49, ,7 s4S5 $50 300
Internal .......... 3lJ isS i12 $50 0G6 IA
Total receipts ........... 1852 1874 GS5 $500 $50
Expenditures ............... Sgi062 S5j s9i,512 l.
The story of the two laws may be summarized
in lines follows:
Mckinley law first two and half years-Sur
plus. S25 sos 5l5
Wilson law. first two and a half years-Defcit