The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-16
ALLOWANCES MADE.

This estimate is on the supposition that
the imports of each class of goods would
be the same the next fiscal year as in the
fiscal year ended last June But as the i'm
ports of wool were three times as great and
those of woolen goods more than twice as
great in pounds as in 1893. the committee
assumes that the excessive importation
would be largely reduced by the proposed
bill. although the fact that our domestic
production of wool has diminished eight
the importation of much more wool now
than in the latter year. Assuming that the
importations of wool will fall off at least
one-third from those OF 1896 on account OF
anticipatory imports TO avoid duties, We
place the increased revenue from this
source at $llO0O,Q0J. Anticipating also that
the imports of woolens will fall off nearly
80 per cent. from the enormous imports of
1885, we estimate the increased revenue from
this source under the proposed rates at
about Sl4 000,0 600. From sugar we estimate
$40 600 900 additional revenue. Anticipating
a considerable falling off of imports of
Havana tobacco. because of the revolution
tional revenue to be derived from the to-
bacco schedule to si.0O00OO. The remaining
schedules would afford a revenue of about
thirty-nine and half millions on the basis
of the imports of 1896, but as there would
probably be diminished imports at some
points, although the gradual restoration of
business activity would offset this by in
creasing the consumption OF imported
luxuries, we reduce the estimates on these
to S31, ,00O. 600. These would aggregate an ad
ditional revenue OF $50 000 600, the first year.
A further reduction of five or ten millions
for contingencies would leave SI1OOO.OOO to
S75 600 5000 as the probable increased revenue
from this bill the first year. which would
undoubtedly rise TO sl0OOOO.OO0 the second
year.
These estimates are below rather than
above the probable result, unless a consid-
cradle delay in the enactment of the bill
should greatly enlarge the opportunity for
rtG IF rtiR nn " re- N
be raised-particularly wool and woolens-
for speculative purposes. Undoubtedly any
delay beyond the first of May in placing
the bill on the statute book would result in
a large loss of revenue.
This increase of revenue is secured by
transferring wool. lumber. crude opium. ar
gos. paintings and statuary. straw orna-
ments, straw mattings, burlaps and various
other articles from the free list OF the
| ing the duty on woolenS TO compensate the
| manufacturer for the duty placed on wool:
| fourths of a cent per pound in order to en-
courage the production of sugar in this
| country. which, ii is believed, can be done
| and thus give farmers a new crop
which we now import mainly from abroad; ;
1 by increasing the duty on agricultural prod
ucts affected by Canadian competition and
| on fine cotton goods. some advanced man.
| ufactures of iron and steel manufactures
| of jute. flax and hemp. in order to encour-
| age these and other industries here and
| especially by increasing duties on such lux
| uries as liquors. tobacco, silks and laces,
| etc As a rule. the rates of duties proposed
are between the rates of the tariff of 1890
| and the tariff of 1894. such reduction of
rates from the former law. while continuing
| preservation of the protective principle. be-
| ing made feasible by changed conditions.
FARMERS PROTECTED.
THE iron and steel schedule is changed
very little from that schedule i'm the tariff
of 1894. the change being entirely i'm the
more advanced articles. The same is true
of the cotton schedule. In the agricultural,
wool and glass and earthenware schedules
/ alone are the duties of the act of 1890 fully
restored. a rule. and in few cases in
creased, with the view of amply protecting
| and encouraging our farming interests at
| every possible point. While the duty on
/ clothing wool is larger in proportion 10 the
| foreign value than on manufactured ar
| ticles. yet ii is thought deSira BILE for the
public interest and for our agriculture that
| We should produce this prime necessity for
ourselves. The duty Oh carpet woods, as