The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-05-25

D.
1896 and of $40, 1892, 254 over that of 1893.
1.-The report of the ways and means
committee of the house recognizes the
fact that anticipatOry importations will
largely reduce the expected revenues of
the first fiscal year under the new tariff
law, but after making allowance OF
these importations, the report estimates
an increased income OF $l6,OOO,OOO for the
year 1898 provided the law should be
passed by May I. If its enactment were
delayed until July I, the report added
that $4,000. 600 additional would easily
be lost to the public treasury"
After giving in detail the house esti-
mates to revenue, Mr.. Aldrich proceed
ed:
TT will be apparent from a critical
examination of the provisions of the
house bill that the estimate of such SIS
100000 decrease of revenue if the bill
should become a law by the first of July
was excessive.
ITO indicate the grounds upon which
this judgment is based we may take the
wool and woOlen schedule from which
$24, coo 600 out of $76 900, 900 increase is
expected The fact is well-known that
there have been unusual importations
of wool in anticipation of the re-impos-
ition of duty-enOugh according to the
trade reports to supply all the foreign
wool needed by the domestic manufac-
turers for more than a year.
THE statistics on this point Justify
the belief that there can be no revenue
from the wool duties during the fiscal
year 1898 except possibly a small
amount from third-class woods. The
estimate of S14 900, 600 increase from
WoOlen goods is equally erroneous.
1.-The same condition exist in lesser
degree perhaps with reference to other
schedules. Instead of an Increased rev.
enue from tobacco. we may more safely
count on a decrease the first year; in
the case of sugar it will be much less
than the ways and means committee
estimate owing to the fact that one
quarter of the years supply of raw s1l-
will nrnha o1Iv hn
any new rates of duty can be applied
to them.
1.-The secretary of the treasury estf-
mates the expenditures for all purposes
for the fiscal year ending June 80 1898
at $466. .946, ,O472S The finance commit
tee estimates the revenue to be derived
in the same fiscal year from customs
if the provisions of the bill reported by
them should be enacted into law at
$182,744, ,000 This includes an estimated
revenue from the temporary duty of tea
of $8, 900 0O0
The committee estimates the receipts
from internal revenue for the same
period at $170, 700. 600. If we add to this
the treasury estimate for miscellaneous
receipts $40. 900, 900 and the receipts on
account of the post office $96, 227 O76, we
have a total of estimated receipts for
the fiscal year 1898 of $469. .671 O76 or an
estimated excess of receipts over ex-
penditures for that year of 50, ,725, ,O28.
If the estimated revenue from the
duty on tea and the additional internal
revenue taxes should be omitted from
the committees estimates of receipts
there would be an estimated deficiency
of $29, IT'S, 900 instead of surplus of 81, ,725.-
O2S. The committee believes it to be
the imperative duty of congress to pro-
vide IN the measure under cOnSidera-
t1On for revenue which will certainly
meet the requirements of the govern
ment for the next fiscal year. The
adoption of a revenue bill, which should
fail in this purpose and which should
create an additional deficiency in the
immediate future and which would re-
quire a further issue of bonds to meet
current expenses would certainly be
fatal to the hopes of the future success
of any political party responsible for
such legislation.
In selecting the sources for addi-
tional revenue the committee decided
to increase temporarily the tax on ar
ticles of voluntary use rather than to
assess additional duties which might
prove imperative, upon articles of nee
essity or upon those which enter into
our manufactured products. Assuming
that the necessity for additional rev
enue exists and of this we believe there
can be no question there is no economic
reason and certainly none that effects
the public interests, why beer and to-
bacco should not bear their share of
additional taxation.
1.-THE committee believes that the
duty proposed on tea will not prove a
serious burden upon the consumers of
that article.
interferes with the imposition of fur
ther internal revenue taxes by prOtec-
tionists whenever such a course is found
desirable for revenue purposes. In the
future it is almost certain that we shall
be obliged TO depend more and more
upon taxes of this nature for necessary
revenue.
In the years to come we must ex-
pect a decrease rather than an increase
in the customs revenue to be derived
under the principal schedules of the
tariff. With duties adequately prOtec-
tive upon manufactures of cotton, wool,
silk and fax we may expect a constant
ly diminishing revenue from the impor-
tations of these products If the rates
imposed by this bill on sugar should be
found to lead to the rapid development
of the beet sugar industry in the United
States we may expect large reductions
year by year from the contemplated
revenue from sugar.
Some of the most sanguine advo-
Gates of the policy of encouraging beet
sugar production in this country be-
lieve that within ten years we shall
produce all of our sugar.
THE legitimate result of a prOtec-
tive policy is to give the American mar
ket to American producers. When this
becomes an accomplished fact the reVe-
nue. growing out of protective duties
disappears It must be evident there
fore that we must look for other
sources of revenue. Whether it should
be along the line of an increase of in
ternal revenue taxes, such as we have
suggested, or whether some other
source of revenue should be sought,
it is not necessary to now de-
ternine It is safe to assume that
numerous objectors will always be
found to any plan for increased taxa
ton. In this particular case the COM
mittee is only strenuous that wise
public policy requires that our revenues
should at all times be equal to our ex-
penditures and that the people of the
United States will not be satisfied with
any revenue measure that does not pro-
vide adequate income for this purpose"
REED OR THE ALMIGHTY
Must Give Way to the Cuban Cues