The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-04-10


Important and Valuable Features %
the DiExiey Tarfn Bill.
The startling deficiency of revenue
under the Cleveland administration is
well known 70 the people. but Is no
less serious because IL has become IA
miliar. A steady and continuous de-
fciency in revenue for four years of
peace, amounting in the aggregate to
more than sos. 100000. cannot be
viewed with equanimity. To meet this
deficiency money has been borrowed,
and the people are paying interest.
Bonds amounting 10 more than S262,-
100000 have been sold. but of the pro-
ceeds S203, 000,000 have gone to sup
ply an insufiiciency of revenue.
Under the first year of the McKin-
ley law the customs revenue was S175,-
600. 900, and under the second year $685.
100000. The customs revenue for the
fiscal year that will close June 30 has
been estimated at $40. 100000. The an
nual revenue from duties on imports
has declined more than sec, GOO. 900 since
1898.
II is not surprising that the presi-
dent convoked congress TO revise the
tariff to secure an increase of revenue.
This revision, to use the language of
the committee, will also "better pro-
tect the many industries which have so
seriously suffered the past three years
from unequal foreign competition, and
from the consequent loss of purchasing
power of the masses of the people, upon
which the demand for products and the
prosperity of every citizen depend"
Important reservations to the dutia-
ole list from the free list are wool and
lumber. The committee says:
by placing wool on the free list and re-
ducIng the duties on manufactures OF wool
tho treasury lost s21 900 OF revenue our
farmers lost a market for S0.000.0O0 pounds
OF wool which they raised In 1892 In ex-
cess OF what they raised In 1867. as well
as nearly ten cents per pound In price. in<
vclving loss TO them OF nearly $50. 000.0 900
per annum already on this one product.
and our manufacturers and their working
men lost a market not only for the goods.
which increased foreign imports had sup
planted, but also a market for goods
which the farmers and masses OF people
were able to purchase in lS93 but which
they could not buy In 1885, because of
loss OF employment and purchasing
power"
Flocks of sheep have diminished more
than one-fourth since 1892. The wool
manufacturing industry has been
greatly crippled by the existing tariff.
The sugar duty has been increased.
This is both for revenue and protec-
ton. The sugar crop has become inn
portant among the productions of this
country. Besides the cane sugar raised,
beet sugar is produced in 20 states of
the union.
An important and valuable feature of
the bill is the substitution OF specific
for ad valorem duties. The latter are
not only uncertain, but are also tempta-
tions TO fraud.
The committee congratulates the
country on the provisions for reestab-
fishing and enlarging reciprocal rela-
tons with other countries. This is in
line with the policy of the republican
party as ably advocated by Blaine and
illustrated by Harrison.
On the basis of the imports Of the
fiscal year ended June 30, 1896, the new
tariff bill II enacted will bring an an
nual revenue of $269, 00O. 900, an increase
of S113,0OO,o00 over the Wilson law. The
largest items of increase are on sugar,
wool and manufactures of wool.
Prompt passage Of the bill is desira-
BILE. Every weeks delay will mean a
loss Of from 81 ,000,0 TO 100000 in
revenue, as anticipatory importation
will be large.
The Dingley tariff bill carries out thu
policy Of the republican party, as ex-
pressed in the party platform and APP
proved by the nation, and throws out
the policy of "perfidy and dishonor,"
with it's results OF deficient revenues
and financial disgrace. Times.