Belding banner. (Belding, Mich.) 1889-1918, 1897-03-04
REVENUE PRODUCTION.
This VIII be the Purpose of the New Tarin
More Revenue Required Than Under
Cleueland and Reasons why.

fespOnuence. l-lne remark tndI I'feS
ident Mckinley will certainly urge tn,
enactment of true revenue tariff ii
highly commended by those who un
derstand what he means, and also by
some who do not understand The
conditions of the problems have recent
ly been stated, aud yet are completely
misunderstood by many. There is re-
quired more revenue than was needed
four years ago, first, because President
Cleveland, by selling bonds, has in
creased the interest to be paid each
year by Sll, 492 ,6l5, or nearly one-half.
The expenditures of the calendar year
l>92 were 1865, ,000, 900, and this change
alone would raise the requirements to
1879 800, 900, if economies i'm all other
expenditures were balanced by neces-
sary increase in certain outlays. The
country is growing. Its coast defense
and naval defense require additional
expenditures, and the people are GER
tainly unprepared to cripple these
forces by denying adequate resources.
II is therefore but reasonable 10 expect
that with great economy in other
branches of the public service, there
will be needed as much rs was expend-
ed four years ago besides the increase
in interest due. But there must also
be some provision for a small surplus,
in order TO protect the country against
need of further bond sales in any time
of temporary depression. Nothing
less than revenue Of about 1896, ,000,-
600 can be expected To afford reason
able safety.
With increased internal taxes and
with duty on sugar not imposed in 1892
the country obtained revenue from
these sources OF about S20l, 800 200,
leaving about SlSS, 5O0, 900 TO be raised
by duties on imports other than sugar
What may ba determined regarding
change in these duties need not now be
considered, for it will certainly be the
policy OF the Republican party in any
permanent measure TO look forward 10
reduction, when it may be safe, in the
taxes which may fall wholly upon
American citizens, and upon them
nearly in proportion TO population.
instead of reducing those duties which
are in part paid by foreigners for the
privilege of selling in American mar
kets, ADD which fall almost exclusively
upon those consumers OF foreign goods
whose expenditure is measurably pro-
portioned by their wealth. 1t might
reasonably be expected that existing
internal and sugar taxes, whenever
prosperity is wholly restored, will
yield more than they yield now.
Thus the revenue which must at first
be raised by duties on imports other
than sugar cannot safely be put below
SlSS, 500, 000 which is only IS, 600 600
less than the revenue from customs in
the calendar year 1892 1t does not
follow that duties must be restored in
all respects as they were then. Some
were then necessary for the defense or
the establishment of industries, and
then yielded large revenue, which
need not now be reimposcd at the same
rate to attain the same measure of de-
fense. and would not now yield much
or any revenue at that rate. But II
revenue formerly secured is thus sacri-
feed or unavoidably lost, it follows
that nearly as much greater revenue
must be obtained by other duties ex-
elusive of those on sugar, because the
aggregate cannot safely be allowed TO
fall much below the customs revenue
of 1892 until prosperity can be definite
ly and certainly restored.
Dutable imports in 1892 We're 1893,
952, 1924 In value, not including sugar,
and yet the excess of exports over i'm
ports was S97 4S9, ,705-an excess quite
large enough in any time of ordinary
prosperity TO insure against IA danger
Gus loss of gold. This year the dutable
imports, including sugar, have been
only about 1857 10000 but wool, lum-
Der and other articles of Importance,
from which good revenue might and
should ue derived, are now on the free
list. 1t is TO be expected that such
articles will again be made dutable, AT
such rates as will yield the most TO the
treasury, and at the same time promote
that restoration OF general prosperity
which is necessary to bring adequate
returns from the internal taxes. The
adjustment Of these duties and those
ON manufactured products is always a
task Of difficulty, but is easier now
than ever before. because the whole
people have learned, and the managers
of great industries themselves have
learned, through the experience oI
prosperity ia 1892 and Of unpreccdent
ed adversely since, what rates of duty
are now best calculated TO promote the
general welfare.
In the Office OF Controller Eckels the
other afternoon there happened tC
come an enthusiastic follower of Bryan
who found great comfort in the recen
bank failures.