New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-05
JNCHEiSTNG REIENJE.

Tho rovcnuc for the month just clo, d has
fully justified the hopes expressed in view Of
the moderate increase during lis first half. III
tho total receps there is an Increase over Az
cust although that was month ~ thiriyon"
DAYS against thirty In September. Of S2.?lo.iN'
more than 152 per cent Moreover. thu customs
revenue has increased even more largcly-near-
~ 81 600 600 or l31 per cent evidently owing
N the crou,cr activity in business and enlarged
consunption Of the people. together with the
gradual exhaustion Of lmportatIons in advance
of now dutes II has been shown that III
twelve of the classes of articles of which I'm
norris most largely increased the Increase In
five months ending with July over the core
snondinp months I'm 1890 was les than Two
monihs' consumption. With the next month the
imnorts i'm advance viii run out in six other
classes lncld,ing some Of Importance. even II
,he demand for consumption We're no greater
than il was in 1896. But since II is In fact con
sidcrably greater the imports in advance should
rim ont In these and three other considerable
classes also. 1t is not supposed. Of course. that
dealers actually wait for complete exhaustion
Of supplies before importing more: hut the com
parison serves 10 Illustrate how tlIr effect of
an,icpatory imports j. rapidly dying ont, cX
cont in n very Jew CLASSES 0f articles.
The increase in Internal revenue over August
has been even larger in amount namely. $i.f'S.
$50. or 1874 per cent. This also is due 10 the
general EXPANSION in demand for goods and 10
the distribution OF supplies covered by stamps
purclIascd before the new act went into effect
As the prosperity Of consuming millions in
crcasPs a larger gain IN receipts from Internal
taxes may be expected with reason, and It will
prolabIv bc not altogether dispropoTiOnaie to
the increase IT, the aggregate volume Of bust
ness outside Of speculative channels. The re-
plcnishmcnt Of dealers stocks throughout the
country in answer TO improving consumption
4, Likely 20 be- as important factor In the tax
bearing branches of trade a. in any others
As the revenue in July WAS large. and recovery
has begun so satisfactorily in September. the
aggregate for the first quarter Of the fiscal year
SSO.04l.SIT. is a little larger than it was in the
same quarter OF 1S9j-namely, $.9,l9J.0tD.
TO form some idea Of the revenue which may
be expected hereafter it Is 10 be observed that
undcr n tariff materially higher than the one
now in force, though essentially the same In
character the customs receipts in the year lS.)1
with full prosperity. averaged almost $6OO0
600 per month and The internal revenue
S13OO0.OO0 The progress OF home industries
has cut off some part Of the revenue then oh
tanned from cusomsfor Instance. about $500
900 month from tinplaics On the other hand.
the population has increased for five years. and
with rs great prosperity prevailing the con
sumption of the people would be materially
larger With higher internal taxes on some
articles. the revenue for September. So 1O1 90
is already nearly as large as the monthly aver
age in 1892. and Is likely To expand. The one
essential, a. Republican legislators clearly per-
ccivcd. was Ia restore such general prosperity
that Tho consumption Of Il larger population
would yield larger revenue than was obtained
five years ago.
1t Is easy for some people TO forget that the
loss in business and in wealth during Demo
cratic years includes all the increase which
would naturally have resulted from the gain IN
population and the growth of industries. In the
five years from 1897 to 1892 the payments
through all clearing houses showed an ncrcose
Of ~ per cent. nor this gain in volume Of
business fictitious. The census showed that the
true valuation of property Increased ~ per cent
from 1880 10 1890 and in much greater ratio
in the previous decade. reckoning gold values
FOR 1870. In that decade over $1,000 00O0tO
was added to the Nations wealth. and In tIe
last decade nearly S222.O0O,O00OOo and from
1892 TO 1891 the incfeasc should hav. been
about $l0OO0.OO0.000. During the last five
years. n the rate Of the previous five. transac-
tons through clearing houses should have grown
to x7GUDOOOOOO0 this year But even In Sep
tember the best month OF the year thus far.
the aggregate has only about reached the month
~ average for 1892. After all the enormous
gain of the last two months. business has yet
to increase more than as much In addition to