New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-20
MR.. DINGLEY'S REPORT.
o,-,s,oNs OF THE TARIFF BILL
r1AHoRATELY EXPLAINED.
oxo ARGUMENT ALSO MADE FOR PROMPT
PASSAGE OF THE MEASURE IN ORDER 10
AVOID THE HEAVY LOSS OF KEW
ES1-E WHICH WOULD RE-
SUIT FROM DELAY.
suit FROM DELAY.
t,vrr,rcnArH TO THE TRInUNE.l

inv TELEGRAPH THE TRiBCNE.l
~r.,,r1.on March 1s-The House OF Representa-
aunss chow a disposition to respond as promptly
= 80. annsal Of President Mckinley for the enact
-, ~ necessary legislation 10 Increase the reVe-
.s and replenish the National Treasury as ala the
ronse of Representatives and Ways and Means COM
800 ~ tho last Congress 20 the appeal Of Presi-
s.r, cleveland TIE Tariff bill was reported TO the
uorse nv Chairman Dingey Immediately after the
...a,ne Of the journal to-day. and an order was
,.ssed which will brinc IT TO a vote on March 81
~ hn was accompanied by a written report, pre-
cared by the chairman. which. without going mo
,,a details OF the proposed legislation. fairly sets
.,-,h the principles which governed In its prepara-
zion and the results which are expected 10 now from
4, az well as the urgent necessity for lis prompt
,assare Mr. Bailey behalf Of the minority.
asked and obtained leave 10 file the views OF the
pemocratic members OF the committee on Monday
when the general debate is TO begin. II seemed
,,ohsbe from what could be learned today that II
would be impractcabe for the minority TO unite In
q, expression Of their views in opposition TO the
measure Messrs Bailey, McLaurin. Robertson and
Swanson are all quoted being firmly opposed 10
the admission free OF duty Of so-caled raw ma
,er,als' OF any any case where duty Is i'm
,s,sed on the articles manufactured therefrom and
NJ McMillin and Mr.. Wheeler are Just as firmly
and lnfexlbly opposed TO duties on such so-called
''raw materials
OF course Mr. Bailey and those Democrats who
agree with him contend tina; most of the rates pro-
posed on manufactured articles by the majority OF
the committee ZOO high. but they do not seem to
he more strongly opposed these rates than they
are 10 free raw materials" In fact; the differences
among members OF the minority of the committee.
as well as among other Democratic members of the
House. appear TO be irreconciable-
TEXT OF THE REPORT.
The repor, submitted by Chairman Dinsley Is as
follows:
has haa, tn
adequate TO meet the current expenditures and pay
the interest on the debt. The deficiency dur
ing this period has been as follows:
FISCAL YEAR ENDED JUNE So
1888 1888 Sc sos s 2s8 i isss j.s.aed ss9 "o 90
Total 1903 sill 100
"A continuous deficiency revenue for four years
amounting in the aggregate to mora than s2oS.en-
co. or over 100000 per annum In time Of peace.
with the official estimate of the late Secretary OF
the Treasury his las, annual report. that under
existing conditions there will be further deficiency
of s45 10000 for the fiscal year which will begin on
July next. AMI the further fact that the Govern
r,ent has been obliged obtain means 10 pay this
deficiency by borrowing s2oS,"o,c0. on which the
people are paying interest clearly juses the con-
vocation Of Congress 10 devise prompt and ade-
euate remedy.
The fact mus; not he lost sight Of that while
the Government has during this time issued and
s-o@o4"'rVV
which II has realized 1888 45 s4 In gold for the pur
pose Of paying rs demand notes presented for re-
demption yet sos 10000 of these notes 50 redeemed
have been again paid out meet the deficiency.
and thus made available for n second redemption.
r,1uiring a second and third Issue OF bonds.
Thus II will be that in the last analysis
s2seOOcO or including matured Pacific Rail
road bonds nearly s2160oo,00) Of the S2s3JooU OF
borrowed gold, has been used TO supply an insuff-
CLERGY Of revenue and STILL the practical use
Of this reserve. or Cwhat IS the same thing the
Lotes paid from the TO meet these continu-
Gus deficiencies Of revenue has been one OF the
potent causes OF the dstrust which has existed IN
business circles
Neither does the fact that on March there was
a cash balance in the Treasury OF nearly St,MUV.
after deducting the unavailable fractional silver
and minor coin change the necessity OF additional
revenue at the earliest possible date for the reason
that at least $4,000 600 Of this will be required 10
meet the deficiency between March and July OF
the current fiscal year leaving only sSO6occo in the
cash balance on July next. of which s5o'ccoe0 Is
used 70 pay current expenses. This would leave
only S3oOc,co0 as the Treasury working balance
next July which is small safety permits.
FALLING OFF OF REVENUE FROM IMPORTS.
1.-THE revenue derived from duties imports and
also from internal revenue taxes for each fiscal
year beginning with 1892. follows:
81