New-York tribune., 1898-01-01
NOT A TARIFF FOR DEFICIT.
rur NEW LAW PROVING ITSELF
REVENUE RAISER.
TREASURY OPERATIONS FOR DECEMBER MAKE q
GRATIFYING EXHlBlT-ChAihN"N
TAKES A HOPEFUL VIEW OF THE FUTURE
fsY TELEGRAPH TO THE TRIBuNE.l


u-osnirrton. Dec. 31.-The Treasury statement
., to-day. which Is the end OF the hrs' no.
% the current fiscal year was an eNceeui'e
encouraging as we'll as gratifying one ''NaNI '',.
ING as {, did taat the period OF month'y ue"e
with the probable exception or one ii'on' ~.
,ho nossible exception of another in the heN'
half vear) is al an end. The figures io' '|,,ars
nor arc within COW hundred THOUSAND u0,'" 80,
- -, ..,,,oies made three weeks ago Oo'"
as n receipts and expenditures, ana '"e 80.
ovcood the estimates The receipts from 0U''0.,
lS11 cGO OOO) were greater than those ol ",i'
,ro,.io,s December with one eAcep'""' ia '
,os, Eve wears. the receipts on account "a 90
formal revenue were about SlOoO'Voo
than those Of any other December uu,i"e 49,.
same period. and the receipts from Hl's0e'"
e,,,s ,,ero also in excess OF those OF any otiiei
rocerber since Democratic blight s'ruoN 'Ne
country in NV - uo-o ,,rgar
rbo total recelpts Of the month were i@ise'
bv nearly 81 100000 than those OF any -
Decenlber during the same perioo' "'u -
were $4,000 600 greater than those oI nc no
r,ooo-,her after the enactment Of the wilson
German law. when the excess OF eApe'lu'' US a..
over receipts for the month amounted 70 90 3D.
oco ooO as compared with surplus OF sl'' 'oo"O
-, the first December after the enactment OF
the Dngley law.
cAr-scs OF THE INCREASE IN REVENUE.
A. NJ Dinrley pointed out In the statement
,.ttob be furnished 70 the Associated Press TO-
A.. tho ,,orssse OF receipts on account or IN
,,rrsi revenue Is largely due to legislative pro-
visions contained in the now Tariff law and TO
tho law enacted by the last Congress providing
,or the bottlng Of distilled spirits in bond as
well as 10 the general Improvement in business.
I4ls estimates and predictions heretofore have
turned out 20 he so accurate-whatever error
there was being due 90 understatement-that his
opinion that the receipts for the last half or
the current fiscal year will exceed the expendi-
lures OF that half by a considerable sum VIII
BE- accepted with good deal Of confidence He
does not think. however. that the full revenue
producing capacity Of the new tariff viii be ex-
bihited much before the end Of the fiscal year.
but ne expects a steady increase from this time
forward lie puts the probable total receipts
for January (Which is a month Of heavy pay
.rents) at S9s OO0 00O with mental reservation
which marks S30oCO0O0
While Mr.. Dingiey feels reasonable degree
Of confidence that under existing laws the reve-
nues Of The next fiscal year will equal or exceed
the expenditures. II tie latter are kept within
reasonable bounds. he is by no means unmindtul
OF the possibility that emergency might arise
which would require speedy addition to the
income OF the Government If that should
happen or threaten, 1t could be foreseen and
provided fo~ and Chairman Dngley and his
colleagues Of the Ways and Means Committee
would be found ready 10 do their part without
any prompting.
A PERIOD OF REST FROM AGITATION.
As he remarked to a Tribune correspondent
to-day: "We know where to get S25.000000 or
S30Ooo0GO of revenue at any time if the neces-
s. arises and there IS no reason TO doubt that
the reedfu legislation could be promptly en-
acted if an emergency should demand It, How
ever there is nothing TO indicate now that such
legislation will be necessary. On the contrary,
everything promises a period Of rest from the
agitation which always attends change or pro-
posed change Of the revenue laws"
Mr. Dlngley regards as one OF the more graft
flying features OF the Governments financial
condition the fact that during the six months
ended to-day S3S00OoOO Of gold has come into
the National Treasury. while only $1S0000oo
has teen paid out for the redemption of legal
tenders THAT is as good proof Of the restora-
ton Of confidence as l desire" he said "We
have money in the Treasury-gre Treas
ury notes. gold silver and silver certificates and
National bank notes and all OF them good
see what sort of currency they receive; it's all
good. Tho endless chain is broken. and it can
not be welded together again as long as the
revenues Of the Government are sufficient to
meet its current eSpendtures. II was different
two years ago when lhc Treasury was called
on TO redeem S7Gcoooco in legal tenders be-
tween July and January, and was compelled to
90 30 with borrowed gold
CHAGnNAN DINGLEY'S STATEMENT
Chairman DiIglcy statement IS as follows:
"rhe revenue for december shows au increase
~ more than S2J0000) over that Of November
and SJ.750u0O over that - September and even
exceeds The Expenditures for December hearty
81 10000 Tho oG,ial figures for December Tex
cludlng tha S3l71J.20i received during the
month on account Of tho Pacific Railroad sale
and the $31JcD paid out 10 qualify the Govern
incrt representative to bid IN case o, the sale OF
The Kansas Pacific make the receipts S2T.93l. -
49i. expenditures S2G.195.000 and the surplus
Sl7aG 39i. The receipts IN December. 1894 were
nearly S22O0)00G. in December. 1895. they were
S26,VOc.CO0 and IN December. 1896 a little less.
a.