The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-05
This Apparent Paradox the Result OF
Enormous Recent Importations
OF Foreign Goods.
STOCKS FOR A YEAR ON HAND
EVERY PROBABILITY THAT THE
BILL WILL PASS THIS WEEK.
Some Disagreement Yet Between Sem
ate and HOuse-RepubIicanS Support
for Allen Amendment.
Special to the indianapolis Journal.

Special to the Indianapolis Journal
WASHINGTON, July 4.-Now that the
Senate changes in the tariff bill are COM
pieted, it is practicable to form a pretty
close estimate of the prospective earnings
OF that measure when it goes upon the
statute books. OF course the conference
will make some further changes but it is
not expected that they will be of such char
acter as to materially affect the income Of
the government from the bill when it be-
comes a law.
Il think we may assume" said Chairman
DnSley, of the ways and means committee
talking on the subject that the new law
after the enormous stock 81 foreign goods
| now on hand has been absorbed, will pro-
duce sufficient revenue to comfortably meet
the expenses of the government"
You do not suppose, then that it will
meet the running expenses in the first few
months of its operations?"
1T will be scarcely reasonable to expect
that il will. As everybody knows, there is
more than years supply of foreign wool
i'll the country. By some it is estimated
that there are two years supply. There is
probably nearly or quite a years supply of
sugar on hand; there is a large supply of
wooden goods and many months supply of
other articles which have been brought in,
in excess of the usual demands and of the
immediate Requirement. So 1 shall not be
surprised if the law fail to produce enough
to meet running expenses during the first
few months of it's work. Indeed, it would
be surprising if it should do So"
This probable shortage of revenue in the
| first few months under the new law will be
due, however to the excessive importations
of the past few months Ar. Dingley?"
Entirely so. L have doubt that the
bill is ample in its provision for revenue
| under ordinary circumstances and that as
soon as the large stv OF foreign goods
now in the country is -. Jed and the
usual demand begins as-l he revenue
will be ample. OF ccur~e I ~ not yet know
what the bill will De city. cor there are
| many points in wilicl the House and the
Senate are still in disagreement and there
| will probably be concessions on both sides,
| though l still hope and believe that on IN
! pOrtant matters the House rates will stare
| Whatever changes may be made, however,
as between the House and the Senate bills.
will not be sufficient to seriously affect the
question of total revenues and [ believe
that the law, when it is at work normally
| and conditions are normal, will supply am
pie revenue and in d way very satisfactory
to the people"
Other members of the House and Senate
agree with Mr.. Dingley on this general
proposition Senator Aldrch who has just
returned to the city and is able to resume
the considerations of the new tariff meas
ure mas expressed himself to. his friends
as confident that the bill, even in its pres
ent form, would be productive OF SuInclent
revenue to meet the necessary expenditures
of the government after the supply of for
eign goods now on hand, on Wnlch duties
have already been paid, is exhausted. Con-
gresham Dolliver, member of the ways
and means committee, also expresses the
same opinion. Il believe, SAID he, that
the new law will produce sufficient revenue
as soon as importationS resume their usual
course The tact that there is a years sup
ply of such important revenue producing
articles as wool, sugar, tobacco, WOODEN
goods and other articles of this kind in the
country, of course, VIII reduce very mucn
the mportationS during the next few
months and consequently make the receipts
under the new law light for several months.
,3lIt the people l think, understand this
fully and will not expect anything else IN
view of the fact that the importers have
been permitted to MI up the warehouses
and country generally with foreign goods
before the new law could go into erect.
When business improves under the new law
and people are able to buy ana When the
stock now on hand is worked of, have no
doubt that the new measure VIII produce
ample revenue and until that time the peo-
pie will understand that any deficiency in
It's earnings is due to the enormous stock
OF goods which have already been brought
in and on which the duties nave all peen
collected and turned into the treasury
1t may be added, in substanuation or the
views of Chairman Dingley and Representa-
tive DolliVer that tarin experts, VINO nave
followed the work of the Senate committee
very closely estimate that the Dill as II
now stands will produce a revenue slightly
in excess of that estimated for the Dill
when it left the House, and as 1t is prob
able that the rates will be somewhat IN
creased in conference, they look with con-
hdence on the bill as revenue producer
under normal conditions. This fact that
an unusual quantity of foreign goods has
been rushed into the country since Con-
gress was called together TO pass rev
tariff bill is well known, but 1t may not De
uninteresting in view Of the fact that the
bill is likely soon to become law ana tnat
its supporters admit that its first Few
months of operation will be seriously en-
barrassed by the extraordinary recent nm
Dortatious to indicate somewhat in detail
what these excessive importduonS nave
| amounted to. The following tables snow
| the importations during the past four
| months on wool and sugar and also the
| total importations during the same period.
| The figures for the four months in ques-
| ton are compared with those of the cor
responding months of the preceding year,
which Will indicate the excessive lmporta-
| lions since the inauguration Of the present
| administration and their prospective effect
| on the revenue when the new law goes
| into effect.
The first table shows importations of wool
| in pounds from March to July l, 1896 and
| 1887: