New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-10-25
FEDERAL FINANCES.
A SATISFACTORY NATIONAL BALANCE
SHEET.
CONTRAST IT WITH THE SHOWING OF
DEMOCRATIC PANIC YEARS AND DE-
eide WHICH PARTY SHALL MAN
vor-p c,oTTNTRy,s AFFAIRS
AGE YOUR COUNTRY'S AFFAIRS.

Careful examination of a merchants cash
book and ledger discloses whether he is sue
cess or a failure. From the biggest corporation
TO the smallest dealer this rule applies. 1t is
| question of surplus or deficit; increased in
debtedness or less interest to pay next year, and
incidentally the amount of stock on the shelves.
Every citizen of the United States is member
OF the greatest firm in the world, and it is to
his interest to see that the concern is well man
aged. A wise business man would not put a
dishonest or incompetent clerk in charge of his
cash drawer nor would the directors of a rail-
road turn its finances over to of whose
ability they knew nothing Hence, voters should
take time to learn what the last two Admins
trations have DONE and they should not over
look the fact that while Mr.. Cleveland did not
oountenance free silver insanity, his Admins
tration was responsible for many mistaken acts
in regard to the tariff and other matters that
are Endorsed by the present Democratic candi
date The situation is complicated by the ex-
penses attendant the Spanish war, but the
great advantage of new territory, strong Navy
and well organized Army may properly be put
on the credit side 'betterments."
Four years ago the American people
warned by Bryan and his supporters that the
election of Mr. Mckinley would bring pro-
hibitively high tariffs, which would force prices
beyond the reach of consumers, and imports
would decrease until the customs revenues
would be insufficient for the support of the
Government, and another bond issue would DE
inevitable It is true that tariffs were increased
on certain articles requiring further protection
from pauper labor of Europe and also on many
luxuries The immediate effect was the great
rush Of goods to this country during the first
half of 1897 to anticipate the higher duties
which could not take effect until July. By the
time the Dingley law became effective the coun-
try had been flooded with wool and woollens
and other manufactured goods, so that port re-
ceipts at New-York made the highest weekly
total on record, May Z, 1891 of $lS3S2Ol9
which has never been even appropriated SINCE
receipts of drygoods alone for that week
amounting to $5,340371. Such movement
necessarily brought large total of customs re-
ceipts during the last year under the Wilson
law. but, nevertheless, there was a deficiency
of S1SO52 254 for 1897 and 1856, S63,9S4 during
the four years ended June 30, 1897.
CUSTOMS RECEIPTS UNDER BOTH LAWS.
A few comparisons of customs receipts under
the two tariff laws may prove instructive indi-
eating as they do that the higher rates did not
cause any decrease in the quantity of luxuries
imported which the increased duties brought
into the Treasury a much greater sum, without
its being felt by the people who were to be
burdened from the "cradle to the grave" accord
ing to free trade literature. During the three
years ended June 80 1896, the amount col
Iected on imports was Sab 99S 500 "a, and the
Government ran behind $137, S11 73O that
heavy bond issue became necessary. During the
first three years under the Dingley tariff law
receipts were $58S. S5S, AS &c, and there was a
deficiency of only S47, 631 TAG, while for the
rent year thus far this has been replaced by
surplus Of Sc. 416, 229. And it must not be for
gotten that practically all this deficit for the
three years, three months and three weeks is
due to the outlay in connection with retiring and
refunding bonds which will be a constant source
OF benefit to the country in the future owing to
the lower rate of interest.
During the three years ended June 80. 1896,
expenses by the War and Navy Departments
aggregated $244 $50 42S, while in the period COW
ering the Spanish war there was outlay of
$685., 1927, 1856 on these accounts, an increase of
$3.50, 476,75S The bond issue and the increased
internal revenue under the new act for two
years just about cover this difference, and while
no one has found the added tax in any way
oppressive, the country has largely expanded its
territory, and is in position to defend itself
against all the world by its strengthened coast
defences, increased navy, and an army organi-
cation that is up to date with modern equip
ments of all kinds The strong position in the
Pacific Ocean made it possible to send relief
promptly to American subjects when they were
threatened by Chinese mobs, which would have
been impossible under the old condition Of af-