The herald., 1897-05-26

conducive to the return and mainte-
nance Of real prosperity in this country
than the we'll grounded belief that there
were to be no violent changes in our
revenue policy for some years to come.
The true friends of a protective policy
DO not insist upon extreme rates, nor
are they necessary to an equalization.
While it is true that rates above this
line are often imperative, it must be
admitted that they furnish needless op-
portunities for destructive attacks.
The committee believes tEat the re-
ductions they have suggested from the
rates imposed in the house bill have
not gone in any instance below the pro-
tective point, and if the bill should be-
come a law in the form presented by
them, every American industry would
be enabled to meet foreign competition
on equal terms-tllat is, SO far as this
equality can be secured by tariff leg
islation.
The rates suggested by the commit
tees amendments are considerably be-
low those imposed by the house bill, and
in most instances below those contained
in the act Of 1890.
In suggesting these amendments the
members of the majority committee
reaflirm and emphasize their position as
friends of a protective policy. The u!.
timats purpose of this policy is to Sc
cure as far as is possible by wise and
conservative legislation the steady
growth and development of all interests
agricultural. manufacturing and COM
mercial. The provisions of a tariff law
affect all these interests in number
less ways, and unless there can be sta
bility on tariff policy there can be no
certainty of prosperity for industrial
conditions in this country with very
few exceptions do not demand return
to the rates imposed by the act of 1890
The bitter contest which is going on
among the leading nations OF the world
for industrial supremacy has brought
about improvements in methods and
economies in production to an extent
which was not thought possible a few
years ago. These new conditions mus.
be taken into account in considering the
rates to be imposed.
Without relinquishlng one particle of
our devotion to the cause Of protection,
we feel that we have right to ask that
the cause shall not be burdened by the
imposition Of duties which are unneces-
sary and excessive. In the adjustment
of rates the committee has tried in every
instance to make them sufficiently pro-
tective to domestic interests without be-
ing prohibitive.
The trainers of the house bill estimate
total revenue from the bill Of 1868, ,105,
10 in normal years. This would be the
largest revenue received from customs
duties. and an increase of $113, ATS, ,793
over the customs revenue of 1896, and of
$40. .732, ,254 over that of 1893.
The report of the ways and means
committee of the house recognizes the
fact that the. anticipatory importations
will largely reduce the expected reve-
nues of the fret fiscal year under the
new tariff, but after making allowance
Of the importations the report estimates
an increased income of $76,00O,00O for the
year 1898, provided the law should be
passed by May l.
If it's enactment were delayed until
July 1. the report added that SIS, 900, goo
additional would easily be lost to the
public treasury.
After giving in detail the house est-
mates of revenue Senator Aldrich went
on to quote facts and figures to show
that the estimates were based upon err
roneous conclusions He held that the
immense importations of wool in antici-
patton of the new law had made it i'm
possible that the wool schedule would
produce revenue for year at least In
this connection he held that unless a
duty wac levied upon tea and the pro-
posed increase Of internal taxes was
made there would be deficit instead OF
a surplus for the next fiscal year.
Continuing, he said: 1.-THE adoption ol
a revenue bill which should fail in ite
purpose, and which would create an adj
ditional deficiency in the immediate flu
ture. and which would require a fur
ther issue of bonds to meet current ex-
penditures, would certainly be fatal tc
the hopes of future success Of any po-
litical party responsible for such legis-
lation. In selecting the sources for ad-
ditional revenue the committee de.
cided to Increase temporarily the tax
on articles of voluntary use rather thar
to assess additional duties, which might
prove imperative, upon articles of ne.
cessity, or upon those which enter into
our manufactured products, assuming
that the necessity for additional reve.
nue. exists, and Of this we believe there
can be no question. there Is no economic
reason. and certainly none that affect<
the public interests, why beer and to.
bacco should not bear their share Of ad
ditional taxation. The committee be.
lieves that the duty proposed on tea viii
not prove a serious burden upon thu
consumers OF that article.
Nothing in the theory of protection
interferes with the imposition Of further
internal revenue taxes by protectionist.
whenever euch ascourse Is found desir.
able for revenue purposes. In the fu,