The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-05-26

rates imposed in the house bill, they
have not gone in any instance below the
protective point, and if the bill should
become law in the form presented by
them every American industry would
be enabled to meet foreign competition
on equal terms; that is, SO far as this
equality can be secured by tariff legisla-
ton.
Considerably Below House Rates.
The rates suggested by the commit
tees amendment s are considerably be.
low those imposed by the house bill
and in most instances below those con
tanned in the act of 1890.
In suggesting these reductions. ths
members of the majority of the COM
mittee rSeffirm and emphasize their po-
sition as taends of the protective policy.
The ultimate purpose of this policy is to
secure, as far as this is possible, by wise
and conservative legislation, the steady
growth and development Of all interests,
agricultural, manufacturing and COM
mercial. The provisions of tariff law
affect all these interests in numberless
ways, and unless there can be stability III
tariff policy there can be no certainty OF
prosperity for any. Industrial con-
ditions in this country with very few
exceptions, do not demand a return tc
the rates imposed by the act OF 1890
The bitter contest which. is going on
among the leading nations of the world
for industrial supremacy has brought
about improvements i'll methods anC
economies in production to an extent
which was not thought possible few
years ago. These new conditions must
be taken into account in considering the
rates to be imposed.
: Without relinquishing one particle OF
our devotion to the cause of protection
we feel that we have right to ask tha
the cause shall not be burdened by thu
imposition of duties which are unneces
sary and excessive. In the readjust
ment of rates suggested, the committee
have tried to make them sufficient,
protective to domestic interests withou
being prohibitive.
Estimated Revenue.
| Inc trainers OF the mouse OIL eStlIHdt
a total revenue from the bill OF S269,
l07,7 in normal years. This would b
the largest revenue received from Gus
toms duties, and an increase OF Sll3,
479 over the customs revenue of 1886
and of $40, 722, ,254 over that of 1898.
The secretary of the treasury estl
mates the expenditures for all purpose
for the fiscal year ending June 30, 1895
at $466, ,946, ,O47.2S. The finance commit
tee estimate the revenue to be derive
in the same fiscal year from customs,
the provisions of the bill reported b.
them should be enacted into law, a
$1S2, IA, 600. This includes an estimate
revenue from the temporary duty on te
of $S,OOO,OOO.
The committee estimate the receipt
from internal revenue for the sam
period at $l7O, 100000. If we add to thi
the treasury estimate for miscellaneou
receipts, $40, ,OOO,O 900, and the receipts O
account of the postoffice, $96, ,227 ,O76, W
have total estimated receipts for th
fiscal year 1898, of $469,67l ,O76, or a
estimated excess of receipts over exper
ditures for that year, of 81, ,725, ,O28. \
If the estimated revenue from tn
duty on tea, and the additional interns
revenue taxes should be omitted froI
the committees estimates of receipts
there would be an estimated dehcienc