The evening times. [volume] (Washington, D.C.) 1895-1902, 1897-03-22

desideratuHi which was earnestly recom-
mended by both Secretaries Manning and
Fairchilds several years ago. In many
cases where exclusively ad valorem duties
are impracticable because of the varied
character of goods, compound duties have
been devised which SO minimize the al
valorem feature as to take away large
part OF the inducement to undervalue.
While it is difficult to compare the rates
OF tariff almost entirely ad valorem with
bill whose rates are so largely specific G. S
the pending measure, yet the fact that very
few duties in this bill are higher than
those of the act of 1890, and nearly all
outside OF the few schedules referred to are
lower, and that two important schedules
are for the most part the same as the
duties OF the present law, clearly show
that the actual average rates Of the pro-
posed bill are lower than those CT the
tariff of 1898 and some higher than Of the
present ff-notwithstanding the aver
age per centum ad valorem duty under
the pending bill ON the present reduced
prices, will appear to he higher than the
present law, and a little higher than that
of the act of 1890.
Per centum averages are always mis-
leading when estimated on changed basis.
Thus duty OF 30 per cent Imposed on an
imported article valued at 80 cents abroad
and so cents here, making 30 cents the
difference of cost of production, becomes
duty OF 60 per cent when the foreign and
domestic cost are each reduced / % cents
but the duty S still 80 cents.
Again different specific or compound
duties imposed by lines of value always
give rich opportunity for Juggling with
the percentages.
For example, If duty of 10 cents is
imposed on an article valued between 81
and So, and 10 cents on the same kind OF
article valued above So, and SO on for
higher lines, then the uncandid percent
age manifestation, shutting her eyes TO the
fact that the importer will adapt his
goods as To fan but slightly below the
lines erected. proceeds 10 declare that
duty of over 10 per cent has been placed
on an article valued at 81 90, when as a
matter OF fact goods anywhere near 81
viii come in under the Is cents duty will
be those valued at about So; so that in
point OF feet the actual duty is less than
40 per cent.
IL is because OF these facts that il has
been found difficult to compare rates
under two tariffs SO different in charac-
ter by equivalent ad valorems. so as TO
make the comparison acceptable or sat
isfactory.
The average al valorem OF dutiabie
schedules under the act Of 1890, on the
basis of imports of 1893, was 40 1-2
per cent, and with the lower prices of
1896, it would have been at least 03 per
cent. But this was with sugar on the
free list. and liquors per cent less than
in the proposed bill. If sugar and liquors
had borne the same duties as under the
act of 1890, and prices had been as low
in 1898 as in 1896, the average duty
under that act would have eJed 60
per cent.
Under the act of 1894 the average duty
in 1896 was 40 per cent, but this was with
sugar at only 40 cents, and tobacco,
liquors, laces and silks considerably less
than either In the act OF 1890 or the pro-
posed bill, PROFESSIONALLY the average
duty under the act or 1894, if sugar, to-
bacco, liquors, silks and laces had borne
the same duty as in the proposed bill,
would have reached al least Al per cent.
The average duty under the proposed law,
res, is estimated by the xperts at 81 per
cent.
Deduct sugar and the average duty
would tie ga per cent; deduct sugar, to-
hacco, and spirits and the average duty
would he 49 SO per cent, and deduct
sugar, tobacco, spirits, and wool and the
average duty would be only i per cent.
The report of the Committee on Ways
and Means has set forth tie TACT that the |
pending bill has not only restored the
provisions of the tariff of 1890, as 10
under which our trade was
enlarged, but has extended |
that policy AS the gentleman fIom Hi |
nois (Mr Hopkins, who has specially de- |
voted his attention to this subject, viii |
hereafter explain in detail what is pro- |
posed, / VIII leave that interesting subject |
to him.
The inquiry naturally arises as to what |
will be the probable annual revenue derived |
from the proposed tariff revision in case [
it should become law; the only solid basis |
from which we can draw differences is |
that supplied by the estimate OF Mr. Exams, |
the statistician, who has made the COM |
statement, that ON the basis of j
the importations Of the fiscal year 1896, |
the pending bill enacted into law would |
yield an increase of revenue of about ST 49,
UO0, 900, the details of which are given |
in the report OF the Commit ee of Ways and |
Means.
The committee estimate after ma king lib
eral reductions that for the first year, in /
case the bill should become a law by May |
l the additional revenue would reach S75,-
600 900, and that for every week there
after, in case it's passage should be de-
rerred, there would have to be O deduction
Of from one to two million dollars for wool,
sugar and other articles on speculation to
avoid the increased duties. For the second |
year it is believed the proposed bill would
yield 500, 900 of increased revenue
1t must be obvious, from any point Ct
view, that prompt action by the two houses
Of Congress is Indispensable to secure the
revenue which the pending bill is intended
to yield The exigency is an unusual one.
The people, without regard to party affili- !
atoms, are asking for action. Business
awaits our final decision With this great
question of adequate revenue to carry on
,he Government settled favorably by such
an adjustment of duties as will restore to
|
TO others during the past four years,
with restored confidence i'm the future,
there is reason to believe that gradually
and surely there will come back to us
the great prosperity which we enjoyed in
the decade prior to 1898, and which the
greatest of living English statisticians so
eulogized when he said in 1892
that lit would be impossible to find in
history any parallel to the progress of the
United States in the tthen) last ten years.