The Owosso times. (Owosso, Mich.) 1897-1926, 1900-07-13
Washington Le,.er-The Dlngley Tariff.

Washington, July 10 Four achievements
In the management of the public finances
and revenues under the administration of
President Mckinley stand out with marked
prominence:
First, In point of success, Is the Dingley
tariff; second, the reform in the currency;
third, the war loan OF 1898; and fourth, the
settlement of the Pacific Railroad indebted
ness.
Perhaps never before In the history OF
this country have so many important fiscal
achievements been accomplished In so
brief time. With the exception OF the
Pacific Railroad settlement, these events
bear, to considerable 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 estab-
lshed by prompt and effective tariff legisla-
ton. The President we'll understood the
necessity for speedy modification in the
tariff. Within forty-eight hours after his
Inauguration he issued a proclamation for
March is, 1897. The brief message sent to
congress, when 1t convened on that day,
clearly demonstrated the urgent necessity
for prompt action.
The house OF representatives promptly
responded to the Presidents message. 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 expedition 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 re-
representatives. March 81, 1897, less than a
month after the Inauguration of President
Mckinley and two weeks after congress had
convened in extra session. 1t passed the
senate July z, 1897, with amendments.
Two days later its consideration was begun
by conference committee of the two
houses, and 1t finally passed the house July
10th and the senate July Gath.
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 time) after
the Inauguration of the President new tariff
law was placed on the statute books. Under
its benefcent influences, the United States
has enjoyed commercial and industrial re-
vival the greatest In its history. The hopes
of the President, as expressed in his mes
sage, have been realized; ample revenues
were provided for the ordinary expenses of
the government, and in providing them,
duties were levied upon foreign products so
as to preserve the home markets; manufac-
lures have revived and increased; agricul-
ture has been relieved and encouraged;
domestic and foreign commerce have 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 September 1, 1894, to July "a, 1897, a
period of thirty-ive months, there was
total deficit of Sos, 1908, 243 This deplor-
able state of the revenues was largely re-
sponsible for that lack of confidence which
prolonged the hard times inaugurated by
the panic of 1898.
The Dingley teriff became 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, 1894 and April 1, 19OO-the
receipts of the government from all sources,
exclusive of Pacific railroad items, were 81
224, 326,6OS. Deducting from these receipts
the treasury departments estimate of collec-
lions under the war revenue act amounting
1888, 70S, 53S, there were net receipts of ST.
040, 61S,070. The expenditures for the
same period aggregated 81, 1876, 663, 400, and
deducting the treasury departments esti-
mate of war expenditures of $S72, O0O, 900,
the net expenditures for the period stand at
1904, 1858, 400, leaving for these thirty-two
months operation of the Dingley tariff an
excess of net receipts over net expenditures
of $45. 954, 1894.
The President urged that the new duties
be so levied as Ito revive and increase
manufactures" In the fiscal year 1897 the
imports for the consumption of articles In
crude condition, which enter into the vari-
Gus processes OF domestic industry, amount
ed to 1907, 1858, 1856, and in the three years,
1895, 1896 and 1897, averaged less than
$500 900, 600 annually, while in the caleu-
dar year 1899 the imports of this class
amounted to 1897, 49S, $50, an increase of
nearly $40, 900, 700 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 import alton of
manufacturers' materials is running at the
rate of s,OOO,0 900 per month, or more than
30 per cent higher than the monthly aver
age 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
F~sHap yayee4stsaasFas.