The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-12-31
DINGLEY is BRAVE
Figures Out the Success of
His Tariff From a De-
cember Surplus.
THOSE ANTIclPAToRY IMPORTS
Reduced Payments and Increased
Receipts Prophesied for the
Next Six Months.

WASHINGTON, Dec 81, 1S97.-Chair-
man Dingley of the Ways and Means
Committee furnishes the Associated
Press the following statement of the
revenue lookout
1.-THE revenue for December shows an
increase of more than two and a half
million dollars over that of November,
and five and three-quarters millions over
that of September, and even exceeds the
expenditures for December nearly one
and three-quarters millions.
..The official figures for December (ex-
cluding the $31, 715, ,204 received during the
month on account of the Pac1t1c Railroad
sale and the $900,o00 paid out to qualify
the Government representative to bid in
case of the sale of the Kansas Paciflc)
made the receipts $27, 7,931, ,4s4. expenditures
$26, 1876, 000 and the surplus 81 7S6, 494. Ihe
receipts in December, 1895, were twenty
six millions, and in December, 1876,
little less.
''This surplus for December, 1897, how
ever, arises from the fact that there mas
been almost no interest payments for
the month, which makes the expendl-
lures below the average. In January tne
quarterly interest will he DUE. which
will swell the expenditures considerably
above the average, and leave dehclen-
cy for that month, twithstanding the
revenue will probably rise to- at least
tWenty-nine millions and possibly more.
'.On the basis of the estimate of the
Secretary of the Treasury that the eX-
penditures for the present fiscal year will
be 1913 600, ,000-a little over 5000 000 600 hav-
ing been already expended-the average
monthly expenditures for the six months
beginning January will be about twenty
nine millions; as the expenditures for the
first half of the fiscal year are consider
ably larger than those for the last half,
on account of the suspension of many
public works in the winter season and the
large July payments OF nablHtieS OF the
previous fiscal year.
.sThere is no doubt in Treasury circles
that the revenue under the new tariH
law from January l to July will exceed
same period, Notwithstanding January
and possibly April--the two months for
payment of quarterly interests, will show
a balance on the wrong side.
ssThe revenue was only nineteen mill
ions in August (seven millions from GUS
toms), in consequence of the large i'm
portations between March and July "a,
in anticipation of the new tariff. 1T rose
to twenty-five millions in September
(eight millions from customs) to twenty
four millions in October (nine and three
fourth millions from cuStoms) to twenty
five millions mine and three-fourths
millions from cuStoms) in the short month
of November, and now rises to nearly
twenty-eight millions in December (eleV-
en- and one-half millions from customs).
ssThis increase will go on as the goods
imported in anticipation of the new tarlfI
are consumed. Indeed. the increase OF
revenue to which the present consumption
of imported sugar and wool of classes
one and two entities the Treasury has
only begun to be felt as to sugar, and as
to wool will not be materially felt for sew
eral months The increased receipts from
internal revenue taxes are due to the pro-
visions of the new new tariff aboishing
the discount on beer and increasing the
tax on cigarettes, and to the bottling law
passed by the last Congress-in connection
with the improvement in business.
'.While the apparent deficiency for the
first half of the present fiscal year has
been about forty-hve millions (the rev.
enue having been nearly one hundred and
fifty-eight millions and the expenditures
two hundred and two millions), yet it will
be observed that this would have been
almost wiped out by the thirty-eight mil
lions of revenue received from March |
to July l from importations in excess of
the same period of the previous year.
made in anticipation of the new tariff and
intended for consumption the present
fiscal year, which revenue was neces-
sarily placed to the credit of the last
fiscal year, but in equity belongs to this
fiscal year. And this does not take into
account the absolute loss of revenue aris-
ing from anticipatory importations which
the Treasury has already. experienced and
viii continue for several months to ex-
perience in a less degreee.