The herald., 1897-03-16

only Wltn ndtOildl HIdulCS anu iSSohA
mends protection as remedy for all IN
dustrial and commercial ills.
wool manufactures more than twice as
great in pounds as in 1893, the commit
tee assumes that the excessive importa-
ton would be largely reduced by the
proposed bill, although the fact that our
domestic production of wool has dimin-
ished 100000 pounds since 1893, viii.
necessitate the importation Of much
more wool now than in the latter year.
Assuming that the importations of wool
will fall off at least one-third from those
of 1896, on account of anticipatory i'm
ports to avoid duties, we place the in
creased revenue from this source at Sl1,-
900, 900. Anticipating also that the i'm
ports of woolens will fall off nearly
per cent from the enormous imports of
1895. we estimate the increased revenues
from this source under the proposed
rates at about $14000,000. From sugar
we anticipate $20O00.0 900 additional rev.
enues. Anticipating considerable fall-
ing off Of imports of Havana tobacco be-
cause of the revolution In Cuba we re-
duce the estimates of additional revenue
to be derived from the tobacco schedule
to s4,0o0000. The remaining schedules
would afford a revenue Of about $39, ,5Oo,-
900 on the basis of the imports OF 1886,
but as there will probably be diminished
imports at some points. although the
gradual restoration of business activity
would offset this by increasing the con-
sumption of imported luxuries, we re-
duce the estimate on these to $Sl ,oOo,ooo
These would aggregate an additional
revenue of $50 600. 900 the first year.
A further reduction OF five or ten mil
lions for contingency would leave Wv
0oo, 900 to $4,000. 900 as the probable IN
creased revenue from this bill the hrst
wear. which would undoubtedly rise to
500, 900, 900 the second year.
These estimates are below rather than
above the probable result unless con-
siderable delay in the enactment OF the
bill should greatly enlarge the opportun-
ity for import of articles on which duties
are to be raised-particularly wool and
woolens for speculative purposes. I'm
doubtedly any delay before the 1st OF
Nav in placing the bill on the statute
hook would result in large losses OF
revenue. This increase Of revenue is Sc
cured by the transferring of'wool, lum-
her. crude opium, paintings, statuary,
straw ornaments, straw mattings, DUR
lans and various other articles from the
free list of the present law to the dutiable
list by increasing the duty on woolens
to compensate the latter for the duty
placed on wool; by raising the duty on
sugar about Y of cent per pound In
order to encourage the production OF
sugar In this country, which, 1t Is De-
lieved. can be done and thus give our
farmers a new crop which we now I'M
port mainly from abroad; by increasing
the duty on agricultural products af-
fected by Canadian competition and OF
fine cotton goods, some advance IN the
manufactures Of iron and STEEL Jute,
fax and hemp, in order to encourage
these and other industries and especial
ly by Increasing duties on such luxuries
as liquors, tobacco, silks. etc.
Az a rule the rates OF duty pro-
posed are between the rates OF the
tariff of 1890 and the tariff Of 1894, in
such reduction of rates from the former
law preserving the protective principle
as is made possible by changed condi-
tions.
The iron and steel schedule is changed
very little from the schedule In the tar
if Of 1894. the changes being entirely in
more advanced articles. The same Is
true of the cotton schedule. In the ag-
ricultural, wool, glass and earthenware
schedules alone are the duties Of the act
of 1890 fully restored as rule, and In a
few cases increased with the view Of
amply protecting and encouraging our
farming interests. by every possible
point.
While the duty on clothing wool is
larger in proportion to foreign value
than on manufactured articles. 1t is
thought desirable for the public interest
and for. agriculture that we should pro-
duce this prime necessity for ourselves.
The duty on carpet woods, as well as
upon many other articles is imposed
mainly for revenue. The irritation
caused by few woods heretofore classed
as carpet wools being used for clothing
purposes, has been remedied by trans
ferring such to the clothing wool classes
but the duty on clothing wool has been
restored to the rate of the act of 1890.
I'm framing tMs new tariff the aim
has been to make the duties to protect
the revenue and also to protect our own
industries. This has been done in re-
Spouse to the wishes OF the better class
of importers, as well as of the admdnis-
traitors Of the laws of our producers.
The very general substitution Of specific
duties, even where they are only the
equivalent Of existing ad valorems, will
Of itself increase the revenue and
strengthen the protection AFFORDED to
our industries.
1.-THE reciprocity provisions Of the act
OF 1890 have not only been fully restored,
but this policy has been extended by add
ing to 1t sugar, tea. coffee and hides as
articles on which to make reciprocal
agreements. such articles as cham
paene. brandy. wines. artificial and ma
tive mineral waters. chickle, argots and
silk laces. In addition to these articles
(Continued on Page Yhree.)