The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-07-03
The Frightening Outlook.

While the new tariff bill which Is
now so near completion has made un-
precedented progress. yet the peculiar
circumstances which it was framed to
meet occasion Just Indignation that
II was not speeded through the senate
even more quickly. During the con-
sideration of prior tariff acts the gov
eminent revenue was ample the treas
ury had a large surplus and senators
could take their time without doing
the country any damage. But under
present conditions it is estimated that
each day of delay in reaching a final
vote costs the country 100000 In rev.
enues. to say nothing of mental strain,
worry and uncertainty. This estimate
is Mr.. Dingley's.
Figuring on this basis" writes one
alert correspondent. lit has cost the
country S15,6O0000 for the senate to
amend and consider the bill since it
passed the house. The bill was passed
by the house on March 81. and was
received by the senate the next day.
For 33 days the senate finance COM
mittee held it. This involved a loss of
$6,000,000, and much of the labor of
the committee was useless, for the
house rates which they desired to
change have in many cases been re-
stored. The committee reported the
bill to the senate on May 4, but it
was q days later when the debate
began. This delay cost 10000, and
was due to the discovery of errors in
the comparative statement of imports
and revenues that accompanied the
bill The debate began on May %
To hear the senators talk and to al
low them to place themselves on rec
ord before their constituents has cost
the country S7,4OO.OOO during the 81
days, inclusive of five Sundays that
have elapsed since the debate COM
menced. SO, taking Mr. Dingley's esti-
mate of the amount that the import
ers have gained and the government
has loss through the slownoss of the
senate it appears that it will run up
to more than $2O,0OO,O00 before the bill
becomes a law. Most of this loss has
been sheer wastefulness, for the sem
ate will finally adopt the bill in prac-
tically the same shape that it passed
the house"
If it were not for the cheering news
which comes from the treasury this
exemplification of wanton wasteful-
ness in the senate would provoke i'm
patience. But that news. happily, is
reassuring. On July /. 1896, the gold
reserve was only Sl02,0OO,O0O; today it
is $141 100000 and not a cloud is in
sight to threaten it's continuance ap-
proximately at that level. One year ago
the available cash balance in the
treasury as $267, 100000, the amount be-
ing so large on account of the sales
of bonds under the Cleveland admin
istration. Notwithstanding the fact
that there have been no sales of bonds
meanwhile, the available cash balance
on July /, 1897, was S297, AS, 900, or only
$30000,000 less than a year ago, when
the treasury still contained a con-
siderable part of the money received
for the bonds. The receipts of the
government have greatly increased
during the past year, showing a gen.
eral revival of business among the
people. The total receipts for the fis-
cal year ended June so, 1896, were
1925 900, 900. The total receipts for the
year ended July l, 1897. have been
$343 500, 900, an increase OF $4,000 900
or per cent. Although the eXpendi-
lures have increased also, the net gain
is over $5,000,000. and that under a tar
iff law admittedly Inadequate From
these figures we can derive hopefulness
as to the consequences of the enacted
Dingley bill, Notwithstanding the cost
ly delay in the senate.
Justified, then, are these words oi
Secretary Gage, uttered Wednesday
night: AT the end of this fiscal yeal
the condition of the government is al
that could be desired. There is nc
trouble with the gold reserve, thai
barometer of confidence. The business
men, capitalists and investors, moi
only of our own country, but of the
world, are content with our situation
and prospects. All the nervousness!
which formerly held us in its tolls ha!
disappeared. In its place we have con
fidence in the future, confidence in tn,
government, confidence in ourselves.
The blame, in other words, will b,
our own if prosperity shall not re
turn steadily, from this time forward
-
Fitzsmmons agrees not to kill Sulli
van: but there are those who think hj