The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-12-09
TIE DINGLEY Law AND TIE
REVENUE.


will afford ample revenue for the ordi-
nary needs Of the government. While
adequately protecting our manufacture
ing and agricultural interests
That statement is a splendid speci-
men of American optimism, but moth
ing more. why is it confidently be-
lieved that the tariff act Of July a.
1897, viii, when in full operation, af-
ford ample revenue for the ordinary
needs of the government? The basis OF
that belief is that importations under
the Wilson law during the last two
months of its life were so heavy, owing
to the anticipated increase of duties,
that the country was stocked up with
foreign goods and that the stock so
time than q year. It is assumed that
when exhausted foreign imports will
begin again and be as large as ever,
and that the increased duties will fur
nish adequate revenue. That IS the
basis of Secretary Cages belief; it
may be we'll founded or it may be i'll
founded, time alone can tell.
If the duties under the Dingley law
are sufficiently high to materially re-
duce the volume Of imports, the reve-
nue. derived from them will be CORES
pondingly reduced. A tax, tariff or
other, can easily be made SO high that
it will practically kill the industry that
has to bear it. BY way of Illustration
the case of the tax on oleomargarine
may be cited. There is some truth in
what the secretary says about the
present tariff act not having been in
force long enough to determine fully
its merits, but it has been in force long
enough to raise grave doubts in the
minds Of many, even it's friends, whe-
ther it viii prove a success as a reye-
nue. producer.
Discussing the debt statement issued
on the 1st inst. the Philadelphia Led
ger of Friday last said in part:
It is nevertheless a fact that the
| Dingley tariff bill is inadequate as a
| revenue producer. Government Off
GERS; OF course, express the hope that
! in the spring there will be larger i'm
ports and that the revenue may be in
creased, but it is quite evident al
ready that the bill has failed of it's
chief purpose, that of producing reve-
nue. Nor is it surprising that it should
have failed in this respect, for some
of the most important schedules were
framed not in the interest of the ma
ton, but for the benefit and at the die
tation of the Sugar trust, the Cattle
/ trust, and organizations representing
the wool growers and the manufactur-
| ers of woollens, the lumber dealers and
various other combinations of interest
! ed parties, whose sole purpose was to
| promote their private interests.
She debt statement issued on We'd
nesday, although on its face somewhat
| favorable, shows by its details that the
| revenue from customs has fallen far
| short of expectations. The treasury is
in good condition, having a balance on
| November 80, including the gold re-
serve, of 1921, 100000. The net gold re-
| serve is about S157 900, 900. This excel
| lent condition Of the treasury is due in
part to large receipts from the pur-
chasers of the Union Pacific railroad.
| The detailed statement of ordinary re-
ceipts and expenditures shows the
weakness of the Dingley tariff act. The
| deficit for the month was almost SO, 000,-
] 600 (S7,977 ,012) and for five months of
the fiscal year S45, $3.50 The receipts
! from customs seem to have reached a
| fixed point, Sc, 600 below Senator AL
lison's estimate of the average monthly
receipts. The receipts for October
amounted to $9,713 494 and for Novem-
Der to S9,S30,025. The receipts for No
vember, 1896, were s9,930,3S6. Some al
| loWance should yet be made for the
large importations which anticipated
the passage of the new tariff act; but
it is quite evident that the tariff act
| will not meet expectations, and that
| there will be a very large deficit at the
/ 1f h 80
| from customs for five months of 1897
amounted to only S51,164,23 against
$5T, 042 2G9 for the corresponding months
! of 1896. At the same time the receipts
| from internal revenue were increased
! by rather more than the deficit from
customs, so that the revenue from the
two sources for the first five months
Of the present fiscal year exceeded
that for the corresponding months OF
1896 by about S754, Goo This rate of in
crease will not go very far, however
towards meeting the annual deficit OF
$50, 900, 600 or more. Congress will have
| to economic, and should also make
provision for an increase of revenue
There is no use tinkering with the tar
if. Bad as it is, it had better be lei
alone; but there is no good reason why
the receipts from internal revenue
should not be increased by the imposi-
ton of additional taxes on tobacco
beer and whisky.
This administration should not re-
peat the error of the previous admins
tration, which continued to the enc
to make estimates of revenues that
were never realized. It would be much
better to confess that the Dingley
tariff act. however acceptable it may be
to the trusts that framed its more i'm
portant schedules, is, as a revenue PRO
ducer, a failure. 1t would be better
also to make provision for sufficient
revenue to meet the wants of q gov
| eminent economically administered
and leave a sufficient yearly sur
plus to provide against contingent
cies than to attempt to cut
down expenses to meet insufficient
revenue. The economies instituted
for such a purpose generally take the
form of a suspension of public work ac-
tually needed and are unwise and
harmful. Rea! economy is always il
order, but along with real economy
there should be a manly acknowledg-
ment of the facts OF the situation lead.
ing to such legislation as viii provide
sufficient revenue with the least posi-
bic disturbance Of business.
That is a simple statement of tbs
facts in the case. Currency is the mos
prominent question of the hour, bu
the urgent need of the hour is more
revenue. It should be provided forth
with, and the easiest way to provide i
is from internal revenue sources. This
is waiting fer tomorrow and tomorrow
in the expectation of more revenue i.