New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-13
THE QUESTION OF REVENUE.

tn the official declaration by the Secretary or
the Treasury that the present revenue law Is
confidently expected TO yield enough for the
ordinary expenses Of government practically
the only answer Of Free Traders is that some
body else expresses doubt, while some other man
keeps silent. No one has undertaken to point
out the defect in the estimates on which the
official statement is based. No one attempts 10
deny that large part Of the revenue due IN
der the new law during the last five months
has been shut off by impOrtaions while 1t was
Hpendng. Nor has anybody ventured TO contro-
vert the data given some months ago in The
Tribune showing from the official record what
the increase IN imports had been while the law
was pending. and what part Of a years con-
sumption they represented in each article or
class Of articles The main fact that in scarce
ly any imported article or class excepting sugar
and wool, more than five months supply was
imported in advance has remained unchal-
lenged, and yet is ignored by those who are
anxious 20 create the impression that the new
law has already proved itself failure.
1t Is the fact that Of wool the imports repre-
scented more than years consumption at any
former rate, and yet dispatches already show
that large imports have now been ordered OF
wool recently purchased abroad which are ex-
pected TO arrive at Boston within few days
Even in this branch the imports were not such
as TO satisfy the demand for some qualities
largely used more than about four months,
these statements indicate. The presence in the
country Of great quantities of other grades Of
wool does not prevent these impOrtations and
the payment of duties at the present rate 1t Is
also the fact that imports Of sugar. though
smaller than in ordinary years, have been grad
ually increasing. and the refining company IS
now known to have large quantities the
way possibly in view of conditions in foreign
markets which render It desirable in the judg-
ment Of manufacturers, to purchase and import
without further delay quantities which, II not
at once needed, are certain TO be needed before
long. Thus the time is drawing visbly near,
even as to these important articles, beyond
which the revenue will not be cut off by antci-
patory imports.
There is abundant evidence that the volume
Of business transacted, the employment Of the
working people, the wages paid each week or
month, and the resulting power of purchase and
consumption, have risen TO a level higher than
was reached in any previous year since early
In 1898. In many respects the volume OF busi
ness and the output Of industry are larger than
in 1892, notably in the manufacture of iron, OF
which the consumption Is over 90 per cent
larger requiring material increase in the
number of hands employed An increase as
great and probably greater, IS seen in the wool
len manufacture, and In boots and shoes the
recent shipments from the East exceed those
of 1892 by $50 per cent. 1t IS not unreason
able therefore, TO look for a general consump
ton corresponding with that realized five year.
ago, excepting as the progress Of domestic In
dustries has shut out imports of foreign goods
In the first three months of 1892 $50, 900.
COO pounds Of sugar We're imported and in 1S9:
over 1,004, 100000 pounds on which no dut!
was then paid. but the duty at present rate
would probably exceed $l5,000,000. The i'm
ports Of wooen goods, at rates practically tn
same as those now in force, were then nearl.
S1200O,000 In the three months and paid abou
that amount in duties, while the imports of woo
were over s0500O00 in value and paid NOR
than 100000 Since the new tariff went int
force such imports have been small, but II doe
not seem improbable that duties on these tire
items may exceed 100000 a month In tn
first quarter OF next year.
Similar comparisons in great number coul
be made indicating the probability of Il materla
increase of revenue II the condition OF the pee
pie and their consuming power reach the lev,
of 1892 Their number has largely increased
and with similar conditions their purchase
would Increase, and while the object Of III
tariff Is to secure most of the gain to home II
dustries. past experience shows that part of