Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-07-01
MIGHT BE A DEFICIT
New Tariff VIII Fall Short of Pro-
duCing Sufficient Revenue.
RETRENCHMENT WILL Be NECESSARY
The Expected Effect Of Anticiipa-
tory lmportations.
VOTE LIKELY SATU RDAY

1t would probably have been possible to
get a final vote on the tariff bill today had
L been thought necessary to rush matters.
But it Is generally agreed that the vote
will h, taken Saturday. and the finance
committee are satisfied with that. More
over. there is still some irritation on ac-
count OF coal. as shown when the session
opened this morning, and question Il
raised TO the desirahility of incorporat-
ng the antitrust amendment and little
more time : needed to settle that question.
1t is heirg strongly urged that nothing is
10 he gained by an antitrust provision. ana
that if present laws for the restraint Of
trusts are irefrcetuaI. the only sure way
Of reaching them is through a constitu-
t;onal amendment dele2ating to the ma
tional government the sole right to grant
articles of Incorporation and to regulate
and control corporations. resolution
having this general proposition in view will
be introduced. whether or rot there IS au
antitrust amendment Incorporated in the
tariff bill.
Another reason for not wanting to rush
matters TO a conclusion before SATURDAY. is
that the experts are now at work on tl.e
hEdl estimates of the revenue that the
tariff bill Will produce.
Likely To BE "a Deficit.
IL is quite evident that the increase of
revenue will not he sufficient TO keep oace
with the increase of expenditures along the
line Of the past few years. and IL is reaiiZ-
ed that the new tariff will nave to be ac-
cCmpanied by a policy of retrenchment.
IL is calculated that on account of the I'M
Hiy uSt amount OF antlcipatOry impCrtatiunS
the revenues under the new law will be far
short for the first year of what they will
be thereafter 1t is thought that there VIII
be a deficiency in revenue the first year Of
about twenty millions.
After the first year the committee think
there Will be sufficient revenue produced
TO meet the expenditures put IL is not safe
to count on any surplus, and il is ac-
know ledged that great economy in ex-
peIt,!ltTres will be necessary to prevent a
deficiency. II is possible that after the
nil gets into conference IL may be deemed
wise 10 make further provisions for rev
euu- :" fcrestan the possibility of loss
through shrinkage in -importations due to
some OF the higher rates.
CurtsiIment of Expenditures.
~Ihe general opinion seems to be- how
ever that the difficulty must he solved
through curtailmcni of expenditures end
II is said that tn" policy of the admins
tra;ion viii he to incur no expenditures
heyond the normal revenues under the rev
law, no matter now larisIiy Congress may
make appropriations. Appropriations are
all made to b- paid out of any money in
TIN treasury not otherwise Appropriated
and this leaves d diScrttau with tine de
Partner; 10 determine whether AN eX-
peEdItUTe shall be made as authorized if
the revenues happen to be short. 1t is
not expected that a deficiency can be
avoided during The first year and the
enuys during thai period will not he
certcd a. a criterion TO determine the rev
enue-producing qualities of the law. There
after, however. the purpose will be to ad-
just eXi enditUres to the revenue