New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-26
SENATE ESTIMATE.

me eon nm ice same period at $7O7OOOOO; If we
add this The Treasury es Tnasn i9 on account Of
the postoiice se6227O76. we have tSat 81 Geo 81
mated receipts for the xrs e9 Of {ea eceps over Sped
lures for that year Of $3.50 IT., year we have
80 ba ,isel receipts from this source s23foo,
0OOthe estimate of the Internal h deri,e5 from
the increase in taxes on fermenied liquors cg tsd
cites tobacco END snui pT9V6e e Py addona tax
on fernented liquors ard the duties on b Yea date II
be imposed until Jsn9sTy Of the O co og M' viii
adjusted itself to the new tarin ana me nly
receipts and mt meet the expenses Of the
n meR, revenue 10 "'''' VIC
PEER. TOBACCO AND TEA TAXES
7, the estimated revenue from the duty on tea and
the additional internal revenue taxes shouid De
omitted from the committees estimate OF recelpls
there would be an estimated deficiency OF s9l'ow
instead of a surplus Of 81 OPS The committee be-
lieve il 10 be the imperative duty of Congress 10 pro-
vide In the measure under consideration for reVe-
nue. which will certainly meet the requirements Oh
the Government for the next fiscal year Inc aoop-
ton Of a revenue bill which should fail in this pur-
nose and which should create an additional def
cheney in the immediate future, and which would
require further issue of bonds TO meet current ex-
penditures. would certainly be fatal to the hopes
of future success of any political party responsible
for such legislation. In selecting the sources for
additional revenue the committee decided 70 In
crease temporarily the tax articles Of voluntary
use rather than 10 assess additional duties. which
might prove imperative. upon articles Of necessity
or upon those which enter into manufactured
products. Assuming that the necessity for addi-
tional revenue exists, and OF this we believe there
can be no question there is no economic reason and
certainly none that affects the public interests why
beer and tobacco should not bear their share of adj
ditional taxaL ion. The committee believe that the
duty proposed on tea will not prove serious bur-
den upon the consumers of that article. 49,
Nothing in the theory or protecton interferes with
the imposition Of further Internal revenue taxes by
protectionists whenever such course Is found de-
srable for revenue purposes In the future II Is
almost certain that We shall be obliged TO depend
more and more upon taxes OF this nature for neces-
sary revenue. In the years 10 come We must expect
q decrease rather than an increase. In the customs
revenue 10 be derived under the principal schedules
of the tariff.
ures OF cotton. WOO silk and fax. we may expect
q constantly diminishing revenue from the importa-
tons OF these products IL the rates imposed by
this bill on sugar should be found to lead TO the
United States, may expect large reductions year
by year from the contemplated revenue from sugar.
Some OF the most saDguine advocates OF the policy
OF encoura ging beetsuGar production in this country
believe that shall within ten produce all OF
The legitimate result OF protective policy is to
give the American market 10 American producers.
When this becomes an accomplished fact the
enue growing out OF protective duties disappears.
II must be evident therefore, that must look for
other sources OF revenue, Whether II should be
taxes such as we have suggested. whether some
other sources OF revenue should be sought IL s not
necessary now 10 determine. II Is safe TO assume
that numerous directors will always be found to any
plan for increased taxation In this particular case
the committee is only strenuous that a wise public
policy requires that our revenues should at all
times be equal to our expenditures, and that the
people OF the United States will not be satisfied with