New-York tribune., 1897-07-23
PROSPECTS FOR REVENUE AND BUSINESS

In estimating the prospects Of business 1t Is
we'll 10 take more sober and less controversial
Wow of certain conditions than has usually
been taken in Congressional discussions Inc
imnorts TO anticipate new duties have lndeeu
done great injury in some directions. Inc!
have not. however deprived the Government OIL
81 revenue amounting to $40OOOyOOO, as some
prominent men in Congress have inferred. Inc
movement began in March, when the extra ses-
sion of Congress was called and In four months
ending with June the total imports were out
S1O4. .OOO. 900 larger in value than In the same
months last year, and but $77,0OO,OOO larger
than in the same months in 1895, and even on
S1OO.OOO.O 900 worth Of goods imported the dif-
ference between present and future duties would
not he S4OOOOOOO or 40 per cent. material
mart of the injury has been done by imports
which would not have been made at all under
nreposed duties, especially Of raw WOOL, OF
which there was already an unusually heavy
stock in the country in March. The injury Is
that the markets have been taken from home
producers to the extent Of 1900OOOOO pounds
imported in four months this year more than last
vear but the Government has thereby not lost
much revenue. because scarcely any foreign
wool would have been imported under the pro-
posed duties for months TO come.
The sugar imports have indeed cut of part
Of the revenue for the future. but probably less
than many suppose. The actual imports in four
months -March-June inclusive-have been about
2.7bOOOOOOO pounds, against 1.S40.OOO,OO0
hounds in the corresponding months OF the
previous year. 1t is only the increased and I'M
natural mportations which can be reckoned
as diminishing the revenue to be expected in
and hos ha
more than the difference between present and
future duties. On sugar Of the average grade
the present duty is about eght-tenths Of a cent,
and the proposed duty about 1.55 cents, and the
difference, three-quarrers Of a cent pound on
9lO.OOOOOO pounds, would not be more than
about 81, 100000. 1t Is Of some advantage to the
Treasury and to the country, moreover, that a
larger revenue than usual has been received at
this season, when monetary difficulties We're by
many apprehended.
There has been much exaggerated alarm about
the anticipatory imports Of woollen goods. for
while such imports have indeed been heavy, the
excess over ordinary imports at the same sea
son has not been large in proportion to years
consumption In FIVE months ending with May
the total imports Of woollen goods were in value
S2G.674.313. against $19,24O,S4l in the same
months Of the previous year, and the increase
is not fifth Of the imports OF woollen goods
in 1892 and 1893, under the Mckinley duties
which were practically the same as those pro
posed Ii is but fair to consider that the Treas
ury has lost only the difference in duties OF
the excess over imports that might have beeI
expected under Mckinley duties, and as thos
duties yielded about $35.OOO'OW yearly in 1S9
and 1893. at rates about double those now paid
n N
less than $4.OO0,0O0 to the Treasury. Moreover
the interference with future trade in woollel
goods will not be serious as many have sup
posed, since not more than s7.4OOOOO worth o
goods have been imported In excess OF the ord
nary amount, for that excess represents but
smau fraction Of the wOollen goods manufact