New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-12
REVENUE AND PROIECllON
MOTIVES WHICH GOVERN TIE FhAMh''
OF THE NEW TARIFF LAW

.....o,., .r,., avn prRp,,EXITIEs OF THE TASK
coxnIT,oNs IN 1890 AND 1897 coNrRAsTEp
THE SPECTRE OF TIE "Ap VA
LoRl,M EQUIVALENT
inv rr1yGnArH TO THE TRIBuNEl
Washington Feb. 1.-THE work oil i"''''"s ~.
Tariff law proceeds slowly. The maJo'iE % ~
committee to-day continued but ala not ''''s'.
first revision Of the schedule OF meta's' - :" oor
r,I u more difficult and parpexing task was oNo'
tfro i,,,oaAd on a Ways and Means Cofhm'''es
,bon tba, which is set before this one IN 1851 ''o
committee WAS charged with the duty oil ii'in'"e
measure TO reduce the revenue AN" - -
duties on imports": in 1891 II Is require" " -, :,
measure 80 increase the revenue an" ,,,h-
lotto an imnorts" and also to revive the
u"''.N , -, ,,,a country In 1890 the total re-
-. -, tho Government from all sources di"ou'.'
=, =, md Ncurcs TO si64. 900. ana us eNP'""'
tires amounted To $35s"o,@o eaVHs " 'i
amounting to 100000 In 1870 'iie wa. oh
,,oo,, tod 70 s,O2 0o Oo the expenditures ,soo
=. s,os oeo 600 and the deficit was S23c'co II. N
,ba recen,s of customs revenue aiilo''"''U 1000
oooo., - 1sqi 70 only sl60OO0o: difference S'V"V'
o r,h total expenditures in lH" amouhp'" ~
se6 900 90 more than in 1891 a.oo, ,oar
In the first six months OF the cui''"' " &C.,, -,
tho total receipts from all sources "'"0u $50,
exc 100 n,o which WIS $92l7,0O less 'h"' NV 49,,
=, IN
al ,.oar The receipts OF customs revenue "ui''s
-. ,,ortbs Of the current HScdl s'"'
-, :, SCI GAP 900 which was Slid-'"V i''"
,hoo the receipts on the same accoui!. -,
fret six months Of the fiscal year 1850 " g.. cen
rocoints from all sources during N'e - ...
r,onths and ten days Of the cu''''' 49, noo ,oss
',,,orr,od 70 N9l.2S7CGO. which was "'IV 49,
"I"o"',, -, orlinor, expenditures during the
same period. -, ,;o,,a how far
1, ,,,ecoi-a figures sufficiently indlca'e no" '
tn. revenue legislation OF 1874 mas LAM - .bo
tho cxpo ,tations o: its authors o"O , go
| Iir.s objects as EXPRESSED in us u'Ie' 100 ,,
ro,.ida rovenra for the Government. III i0'- VIZ
o''uo 80 Tho Government amounted in round
60. 90 tiqf 600 0oj and the total expenditures ~
sIc no nm leaving Il surplus OF So00" lne - 20
r,o from, customs in 1892 amounted 10 S'V" -,
[ r,,1,r the act Of 1870 which was S""V'"" 600
tho amour. received from the same soui'.' .hat
under the act OF 1855 These figures ss
tho expectatiols OF the authors OF ire '"'H ,h
ton Of 1890, one OF whose oDj'-'S W."
revenue" were realized s,f
7. 10 evident that one OF the mos: serious anu va
rcult problems 10 be solved. as wen d o', .or,s
most urgent IS how TO increase Inc !o",'' -,
,eceiDts bv at least &c. 10000 In MS 'a'' a., 49,
ranort the Secretary OF the Treasur! eS'''' $50
customs revenue OF the current fiscaI year a. '-'
~, 1 go go 10, Oln less than the total receiP'S y"
| .h. oc.ou,. 6uriny the last fiscal year lie aiso
estimated that the expenditures Tor the He"'
| evccod the receipts by s6i5OOu bu' a. "a" -
vi ich receipts account OF customs " .,,o
into the Treasury since July J. 1922 the to.a. ~
v.ar Will not amount to sl375H,cU. or >lo'""" w.
go 49,, cocrotorvs estimate II his estimate o.
s,to ooo ono shonld be realized which IL exceeosS
| ,nnrobab BILE SO 100000 more would De iequ'
hiring the total up 10 that OF 49, ana IL ''io
from customs should fall TO NSSV0"c whch seo ~
exceedingly probable an additional sum ., 49," ~,
no would he needed to make the total equal 10 'id'
q Govern
,,,r.u,. and necessarily increased since lS-' 10
49, ching Of the addition OF Sll.5@cn year OF
accourt of interest the public deo', anu a.,
| amouut of revenue which left surplus oI siV''''
| IN 1892 would be wholly inadequate 10" VI "''
| after . .o1,co ., mr.
| On nor conf more revenue from customs than exist
,r rs+e. WELD would be question uhncu'' eI'0ue"'
o,.or II no other consideration were inVoVeu' p"'
! the rates must also be fixed ana ad)us'eo 80 az -
r.isa domost, industries TO a plane OF ldT anu
oual competition with competing foreign INDUSTRIES
az course the doing OF that will gradually reso'e
/ ,r.os,erir.. ard the abby to buy ana consume
! more goods. and result in an increase OF reNenue
| hath from customs duties ana internal taxes pu'
I nenters Of the Ways and Means ooiI'ii''''" d"
suno that this increase Of purchasing po"'' an"
.ora viii he praduai and not rapid. and that the
carly rerenishm OF the National treasury VII
| ,o,l largely on a substantial increase OF inc
r,toe of duty on imported goods many OF whci
rates were cut far below the revenue-yleId'htS d.
well as the protective point by the Legislation" u
1San ana the restoration Of many OF the duue
which were abolished outright by that legisA'oi
Inst here the members OF the Ways ana Means
loror,i,,ee find themselves embarrassed 10 certain
ovtort bv another fact. In order TO protect TN
revenues as well a. American producers. manu-
f,c,urcrs and wage-earners. thcy are compelled U
,nn,v specnc rates OF duty In all cases where 1t Il
,r.,cticable 20 do 50. The current prices OF com
moditics OF nearly every dcs rpiOn are uhusudll.
/ low no, only in the United States. but in othe
countre, also. and the application OF the specih
ra.os nj duty 10 such as imported at ad valore
,a,es under existing law will make the lad valoren
eotiyaect" seem relatively higE In good man!
cases OF course. as prices advance the "a
,,,,ore,n equivalent" will diminish. but IN the mea
,;,oA the tariff reformeTs' may be trusted 10 nj
Ne air with their complaints ana OulcrleS.
The snectre Of the lad valoten equivalent, base
| or nTesen; prlCes is apparently troubling the mind
~ some members o. Tho committee VINO would no
Es disfurbed hy II II values and prices were norma
,Nbere is lille reason TO fear, however. that IN
/ cnnmjtiea will be unduly influenced by the consid
lion referred to- or th1t II VIII ne persuaded
disregard the just claims and reasonable demand