Potosi journal. (Potosi, Mo.) 1894-1929, 1897-07-21
Washington Letter.
" AsHINGTON. July 10. 1S91.

W ASHiNtrloN. July IL, 1-.'i.
Special correspondence.
Now that we are about to bid
adieu to the Wilson law. it may not
be uninteresting to point out some
of its failures, since it is impossible
to say anything good in taking
leave of a measure which has
brought such distress to the country
and the treasury. The deficit of
S125. 900. 900 which it has made up
to the time of Mckinley's inan.u
ration has been somewhat reduced
by the enormous importations Of
the past three months which were
made in order to escape duties
under the new tariff law. Notwitk
standing the increase in receipts BY
reason of this food Of importations,
since the inauguration Of President
Mckinley the customs, internal
revenue. and total receipts under
this law have been much less than
in the corresponding months of the
history of the Mckinley law. This
is especially interesting and i'm
portant because Of the statements
made from time to time by the
Democrats to the effect that the
Wilson law was more successful as
a revenue producer than the Nc
kinlcy law. The absolute fatsity
of this statement is shown by the
official figures covering the receipts
of the Wilson law from the begin
ming of its operations down to the
present time and comparing those
with the receipts under the Mex in
ley law in the corresponding months
of its existence. The Wilson law
has now been in operation thirty
four months. In that time the
custom receipts aggregated S451,
46j, ,224s, while in the first thirty
four months of the Mckinley law
the customs receipts were S4>j,-
i522.fl4. The internal revenue re-
ceipts under the " iison law in the
first thirtv-fo'lr months were $50
7722 4:53, and in the first thirty-four
months of the Mckinley law were
S;433, S;43333 1.2 .4:,S. The total receipts
under the Wilson law in its first
thirty four months, ending June
30. 1897. amount to S9o4 200, ,6o2.
while the Mckinley law in It's first
thirty-four months produced ST.
4l.O4S.61.. q balance of more than
S131 900. 900 III favor of the Nc
kinlcy law.
HOSTILE TO TRUSTS.
The work Upon the tariff bI!l in
conference has been as unsati>facto-
" to the trusts as was that Of the
House and Senate. Every step in
the framing of this bill has shown
Il determination on the part Of
those in charge of it to avoid the
mistakes which the Democrats made
in the framing of their tariff bill
and by which that party gave to
the trusts. and especially the sugar
trust. such enormous advantages.
OF course the Democrats have tried
to make it appear That the Repub
licans were laying themselves liable
to as grave charges as were Sue
ccssfuIly made against their own
party and tariff bill, but have failed
in that attempt. and there IS good
reason to assert that the new bill,
when it gets upon the statute book,
will be less satisfactory to trusts
than any measure enacted in many
years.
THE CURRENCY COMMISSION.
1t is still understood that Il mes
SAGE will be sent to Congress. as
soon as the tariff bill is out of the
way. asking that the President be
given authority to appoint a COM
mission to consider the currency
question and frame a measure for Il
general currency law. Tie delay
in sending in this message has been
due to the fear that this action
might precipitate currency dis
cussion and thus delay action upon
the tariff bill. but there is Il reason
to believe that the message will be
forthcoming as soon as the tariff
bill is disposed Of. Whether it
will be possible to pass a measure
of this character through the Sen
ate without very great delay is of
course uncertain. but if Republican
votes can pass it, it will become Il
law promptly. 1t is felt that a
commission selected from; the best
students of finance in sthc country
will be able to frame 4 much more
satisfactory currency measure than
would probably be prepared by
any general committee Of Congress,
which could not of course be made
up of men who have made a life
long study of this complex and diff
iicuIt subject.
Retter Times in Missouri.