The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1898-07-09
BONDS AND REVENUE.
Facts which show rhat the Govern-
mental Income In Not
Falling on.

1t is both gratifying and somewhat
surprising that the revenue, as Yet
scarcely affected by single provision
of the new law. which will take effect
as TO nearly all its clauses July /, never
theless keeps up so well. 1t was
naturally apprehended when war broke
out that il would to some extent affect
foreign commerce, and not merely the
imports from Spain and Spanish pos
sessions, but also imports from other
points with which trade had been main
| ly in American vessels. For time there
did appear distinct decrease in the
amount of imports and the duties de-
rived from them. But IL sounds like
joke in these days TO mention the fran
tic anxiety shown by shippers TO get
war risks at high rates on their goods,
and by owners of buildings 10 get spc-
cial insurance against bombardment.
1t has not taken long to convince the
people that Spain has never had re-
spectacle chance of doing harm to any
well-fortfled seaport or 10 an appre-
ciable share OF American shipping
Commerce has quickly resumer its nor
nal volume so far that the duties on inn
ports are fully up 70 reasonable expec-
tations for the season
When the Dingley law was first crit
icised data were presented showing
that il IL yielded Sl.O00000 daily ii
would n little more than meet the or
binary expenses OF the government as
they had been met for four years, and
that If il attained that measure Of sue
cess within six months after its enact
ment the natural expansion OF business
would insure moderate surplus in
subsequent years. The revenue
reached that point in February, and in
spite of apprehensions caused by the
destruction Of the Maine and general
preparations for war, nearly the same
rate was maintained in March. Dur
ing 80 DAYS of April exclusive OF ST.
C5l. 500 received from the sale of the
Kansas Pacific railway, the revenue was
$50. 361, 443, and in May il was $30,OT4,-
sl6--not quite $1,000,000 short OF the
rate required in the month after war
began. In June the revenue in Is days
was SIS. 737 900, and on the day the war
tax bill was approved the revenue Tor
| the month had been close to the desired
average-S12 ,i07 ,32o in - days-having
since gained $27oO,ooo in customs re-
| ceipts for five days.
These facts may well be placed Oh
| record and kept in mind, because they
| show how the Dingley law was closely
| answering the expectations OF III
| trainers and supporters down to the las
| day Of its existence without modifca
ton. and that in spite of foreign alarm'
i and at last of war, affecting 10 som'
! extent the course of foreign trade
] With natural growth of business IL
| harmony with the growth OF population
| q Is proved that the act would hav
Welded by the end Of the fiscal yea
some surplus, with certainty OF it's grad
| ual increase, over the expenses OF tn
government during the preceding iou
| wears. As the problem TO be considere'
i from this time forward is a very diner
! ent one. both because the rate of taxa
ton has been greatly changed to NEE
an emergency and because the eN
: penditures OF the government viii rul
/. far beyond the ordinary limit Of recen
y. years, il should be set down as an his
!, torical fact that after the effect
O. anticipatory imports had measurabl
N though not wholly passed the Dingle
~ act came TO yield in its later months be
n fore alteration substantially the tu
amount Of revense expected and re
"a CURED.
h. IL will be n much more difficult ma
e. ter to Judge OF forthcoming revenu
* after the new fiscal year begins wit
!, it's new war taxes. No experience a
fords a reliable indication OF their RI
suit. nor has any calculation been POI
sible giving other than reasonably col
iectnral estimates. IL is also high
probable that, partly through delibera'
opposition TO taxes and partly throug
negligence the penalties Of which me
TX will not recognize at first, the ne
In taxes will yield for some little tim
ir much less than may be expected frol
e. them after the public has become be
Va ter acquainted with the provisions
es the law. The country will be som
err what in the dark as 10 its revenue
re- and very much in the dark as to it's e.
vs. penditures, which may be MATERIAL
tn increased In any month by the fortune
We OF war. The assurance that the Amer
nd can people are ready and eager TO az
es vance their wealth upon governmei
es securities more favorable to the natio
*, than most nations have ever been alb
d. TO place In time OF war Is therefore
M the highest importance, since IL r
st moves from the situation ground IL
nm apprehension about the resources OF u
EN- treasury and the soundncss OF Il
r. currency. IL is not ont OF place all
ID. TO give full credit TO Secretary GAG
ma for the good sense shown in urgir
ny speedy provision for loan while Il
W people were ready for II. and witho'
he waiting for possible disappointment
ed either in amount of war expenditure
he or In the productiveness Of the ne
lr- revenue lawn. Y. Tribune.