New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-04
THE TARIFF AND BUSINESS OUTLOOK.

All now understand that the business pros
perity Of the country largely depends upon the
nromptness of Congress in acting upon the tar
If The revenue is deficient. and while CON
tnued exports of products will probably prevent
an adverse trade balance for some months lon
ger. and the credits against'London represented
by long exchange held on this side may cover
an adverse balance of $15.0o0,0o0 monthly for
two months. and the surplus of gold in the
Treasury is about Sl5.OOO,0oo more and by judi
cious financial methods could be husbandcd, 1t
is at least possible that considerable Outgo of
gold 10 Europe, and consequent reduction OF
the Treasury balance, would come before the
end of May without new legislation. In that
event, business is liable TO De disturbed again
by apprehensions which the disasters of the
last four years, and still more the constant I'M
derminjng of public confidence by President
Cleveland and his followers, have done 50 much
TO produce. This possibility would become a
strong probability, if Congress should fail to
make provision to prevent heavy imports in an
ticipation Of new duties because such imports
might easily create large adverse balance and
q rapid drain of gold in the months of April and
May
But for the passage Of such a preventive
as necessary as for the final enactment of
new tariff. Thus extremely weighty conse-
ouences may depend upon the result of Sena-
rorjal elections 1t Is reported from Washing
ION that the committee IS not disposed TO favor
the claim of Mr. Dupont, Of Delaware, not from
any view of the merits Of the case, but in the
usual leaning toward maintaining the sacred
ness of every decision the Senate has made,
II
petrated by a State officer but not redressed by
HE Senate, that a Republican Legislature in
Delaware was deprived Of its right TO. fill the
vacant seat. According to recent reports, the
other vacancy will soon be filled by Governor
Bradley Of kentucky, who will appoint as soon
as the term of Senator Blackburn expires, and
thus will add 10 the Republican strength, max
ING ~ votes for a tariff bill. The decision in
Oregon IS expected 10 add another aud with
one seat vacant from Delaware 43 would be
a majority, or with the Senate equally divided
the casting vote Of the Nice-Presldent would
pass a measure.
Rut there are several other Senators whose
declarations warrant the expectation that on
the tariff question If not on any other, they
will act with the Republicans. Senator Jones
has been explicit in this statement. and Senator
Cannon. OF Utah. is so quoted, and three OF the
new Senators Turner Of Washington. Heitfeld
of Idaho and Harris of Kansas-are believed, on
account of their expressions and their antece-
dents likely 10 support a protective measure.
Resides these there are Democratic Senators
who thoroughly understand what it would mean
10 leave the Government any longer without ade-
ouate revenue and TO expose business TO an
other spasIn Of apprehension. Several Of them
have declared their intention 10 smooth the way
So far as they can for the speedy passage OF
such n revenue measure the Republicans may
prepare. and Mr.. McEnery, Of Louisiana, as
sured his constituents that he would support a
protective BILL
These conditions are believed TO make il we'll
nigh certain that the Republicans Will have votes
enough 10 pass any tariff bill upon which they
may agree. and the same votes might with rea-
son be expected 10 support measure to prevent
excessive imports in anticipation Of new duties.
Tho nropress of the House Committee in framing
the new bill appears highly encouraging. From
all that Is known of the conclusions reached, 1t
seems probable that the bill will be judicious
compound of moderation respecting branches OF
industry which need less defence than they
needed six years ago. and intelligent frmness
resnecting Others. There is therefore good rea-
son TO hope that the desired result may be