News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1900-08-22
THE DINGLEY TARIFF
GREAT SUCCESS OF Mr.. M'KINLEYs
ADMINISTRATION

-Four achievements in the manage
ment of the public finances and reve-
nues under the administration of Pres
ident Mckinley stand out with marked
prominence.
First in point of success is the Ding
ley tariff; second, the reform in the
currency; third, the war loan of 1898,
and, fourth, the settlement of the Pa
cific railroad Indebtedness.
Perhaps never before in the history
of this country have so many impor-
tant fiscal achievements been accom-
plished in so brief a time With the
exception of the Pacific railroad settle
ment these events bear to a considera-
bic degree relationship to each other
Underlying the success of the war loan
of 1898 and the reform in the currency
was the basis of prosperity established
by prompt and effective tariff legisla-
ton. The president we'll understood
the necessity for speedy modification in
the tariff. Within 4S hours after his
Inauguration he issued a proclamation
for an extra session of congress to as
semble March 10, 1897. The brief mes
sage sent to congress when it convened
on that day clearly demonstrated the
urgent necessity for prompt action.
The house of representatives prompt
ly responded to the presidents mes
sage. On the same day in which it was
read in the house the late Mr. Dingley
of Maine, chairman of the committee
on ways and means, introduced the
new tariff bill. Such unusual expedi-
ton had been made possible only by
the untiring work of the members Of
the committee on ways and means for
several months previous.
The bill was passed in the house of
representatives March 81, 1897, less
than a month after the Inauguration Of
President Mckinley and two weeks
after congress had convened in extra
1884, with amendments. Two days lat
er its consideration was begun by. a
conference committee of the two
houses, and it finally passed the house
July 10 and the senate July "a.
1t became a law on the latter day,
when the president signed the bill.
Thus, within five months (no other
tariff law was ever passed in so short
a time) after the Inauguration of the
president a new tariff law was placed
on the statute books. Under it's benefi-
cent influences, the United States has
enjoyed a commercial and industrial
revival the greatest in it's history. The
hopes of the president, as expressed in
his message, have been realized; ample
revenues were provided for the ordna-
ry expenses Of the government and in
providing them duties were levied upon
foreign products so as to preserve the
home markets; manufactures have re-
vived and increased; agriculture has
been relieved and encouraged; domes-
tic and foreign commerce has been
increased; mining and building have
been aided and developed, and more
liberal wages have been paid to labor
Under the operation of the. Wilson
act from Sept. l, 1894, to July "a, 1897,
a period of 80 months, there was to-
tai deficit of $10S,003, 243. This de-
plorable state of the revenues was
largely responsible for that lack Of
confidence which prolonged the hard
times inaugurated by the panic of
1898.
The Dingley tariff became a law
July "a, 1897 Under its operation
ample revenues have been provided, as
urged by President Mckinley. During
the period of 80 months between July
"a, 1897, and April /, 1900, the receipts
of the government from all sources,
exclusive of Pacific railroad items,
were $1224 ,326,60S. Deducting from
these receipts the treasury depart
ment's estimate of collections under
the war revenue act, amounting to
of 81, 40,61S070. The expenditures
for the same period aggregated ST.
366, 663, 406, and deducting the treasury
departments estimate of war eXpendi-
lures of 1872, 100000 the net eXpendi-
lures for the period stand at 1891, $685.
406, leaving for these 80 months oper-
alton of the Dingley tariff an excess of
net receipts over net expenditures Of
$40, 954, 664.
The president urged that the new
duties be so levied as "to revive and
increase manufactures. In the fiscal
year 1897 the imports for the con-
sumption of articles in crude condi-
ton which enter into the various
processes of domestic industry
amounted to $2O7, PCS los, and in the
three years 1895, 1896 and 1897 aver
aged less than $200,000,000 annually,
while in the calendar year 1899 the
imports of this class amounted to
$267 ,493, $50, an increase of nearly $70,-
100000 over the average for the three
years of low tariff, in which many of
these articles, notably wool, were upon
the free list. At present the importa-
ton of manufacturers materials is
running at the rate Of $2S,000000 per
month, or more than 80 per cent high
err than the monthly average in the
year prior to the enactment of the
Dingley law.
The president also urged that the
new duties should be so levied as Ito
relieve and encourage agriculture"
That agriculture has been relieved and