, 1897-04-03
WHAT CONGRESS is DOING WITH
THE TARIFF.

1IlL AEklrT.
Never has any act OF national legisla-
ton been more thoroughly discredited
than that monumental failure known as
the Wilson-G orman tariff law. During
ing March LIST, it's fruits have been a
bankrupt treasury caused by an excess
OF expenditures over receipts aggregat-
ing $780, 81 ,5S0.44; an increase Of the ma
tional debt by 1882, 315, 4 for which
bonds have been issued; closed factories,
idle workingmen, broken banks, and
disorder and panic in every branch Of
business. The law was neither popular
with the people nor satisfactory to those
responsible for its enactment. 1t was
based on theories rather than expert
ences, on mHxims rather than on mar
kets. 1t has been a constant cause OF
unrest in all its phases-in its proposal,
it's introduction. and its tormenting per-
iod Of trial. German himself feared it
would bankrupt the treasury, and his
fears proved to be well-founded. The
democrats Of manufacturing New Eng
land opposed 1t bitterly. President Cleve-
land denounced 1t as the work Of party
perfidy and dishonor." The contention
that 1t would provide ample revenue by
increasing importations has been DEM
onstrated to be but the ipse dixit Of free
traders, while the receipts from internal
revenues have been we'll sustained dur
ing the trying period, the annual reve-
nues from imports have declined over
$50, 900. 900 since 1893.
Small wonder then that President
Mckinley has proclaimed II the impera-
tive duty Of the hour. precedent 10 all
other business, to enact promptly a tar
if measure which shall provide sufi-
Gent revenue to administer faithfully
the government without contracting
further debt or the continued disturb
ance Of our finances" Such a bill was
placed In the hands OF the house Of rep
resentatives before the extra session had
aged a week. The business outlook has
steadily improved, and industrial move
ment has accelerated in speed as antici-
pated relief became a moral certainty.
Importers are already hastening to COW
er. The retroactive clause, which is un-
derstood to be included In the new bill,
has suddenly increased the volume OF
duty payments and the withdrawal OF
goods from bond. On Saturday, March
18th, the total Of duty payments in the
New York custom house was 81 ,48S, $685..
81, and the payments on goods in bond
aggregated 1920 96.s3 the latter sum
being the largest receipts on record for
a single day.
The proposed bill, as outlined by Mr..
Dingley, is mi OF triple purpose-in-
crease Of revenue. protection to indus
tries, and reciprocity. A conservative
estimate OF the increased revenue to be
derived places it at SIP, 0OO, 900 per an
mum. That manufacture will be stimu-
lated, employment furnished to idle
hands. and the beneats of rec;nroc,tv
renewed are deductions from exner,ance
and not from theory. The program pro-
posed ia to limit debate in the bouse al
that the bill may be passed and sent to
the senate nv Anril lat with the bone
that il will there he accorded s,,ch or.
pedition that # NAV he MT into effect
IN Nav lat. The notion NJ the bn,aa
NAV be relied on. and the expressed at-
titude of silver senator's. backed Inv the
temper of the country makes tbe ont
look for the program encn,ra 1inp
Promptness Of action ia n large element
in the matter Of increa sed revanne dir
ing the frat wear. Mr.. Dinelev has no;n,-
ed ont that IL the measure hecomas .
law on May Let it will WELD an increase
of s75 600 OOO nm a dozen of The loading
articles OF import oyer what II wonld
produce IL DELAYED two months longer
The new rates of duty will not mi
formly equal those OF the Mckinley tar
i'll, but will fall between those of the