New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-09-11
TO REDUCE TAXATION.
PRESIDENT M'KINLEY'S REFERENCE TO
THE ADVISABILITY OF CUTTING
DOWN THE REVENUES.

Washington Sept. 10 (SpeciaD.-In his letter
of acceptance President Mckinley points out
that while the revenues of the Government are
increasing its expenditures are decreasing, and
remarks:
Unless something unforeseen occurs to reduce
our revenues or increase our expenditures, the
Congress at its next session should reduce taxa
ton very materially"
This may be accepted as pledge that in case
existing conditions continue, the President in
his next annual message to Congress will rec
ommend a substantial reduction, If not an entire
repeal, Of the War Revenue act Of 1898 Con
siderable pressure brought 10 bear last win
ter upon the Ways and Means Committee in
favor of such action, but 1t the opinion of
the leaders Of the majority in both branches Of
Congress that 1t would be wiser to wait until
next winter. The Ways and Means Committee.
however granted hearings TO the representatives
Of many industries and commercial interests
which desired the repeal or radical reduction
of the war taxes. and in that way. well as by
means of official influence and correspondence,
the committee obtained mass Of information
which will be useful in the preparation of the
next tax reduction bill. 1t VIII probably be
brought forward early next session
To that end the members Of the Ways and
Means Committee will hold meetings in NOvem-
Der TO consider and discuss the subject, and
probably to prepare draft Of a bill to be of
fered as soon as Congress reassembles in De-
cember. Unless something unforeseen oc-
ours" to use President McKinley's phrase it
will be found necessary, as well as expedient to
revise the revenue taxes next winter so as ma
terially to reduce the current surplus OF the Ma
tional Treasury. In the fiscal year ended June
30 1899, there only three months in which
receipts exceeded the expenditures, and the net
excess of current expenditures as compared with
current receipts amounted to $50 Ill 500
elusive of the sum of 11,79S000 received in
March of that year account Of Central Pa
ciic Railroad Indebtedness.
In the fiscal year ended June 80, 1900, the
rent receipts exceeded the current expenditures
every month except one, and the net excess Of
receipts over expenditures for the year amounted
TO SSl 49, 745. which amount consisted wholly
of current ordinary receipts from customs. in
receipts from customs. which amounted 10 $206-
12S $50 in 1899. increased to 1865, 5S5 in
1900; the receipts from internal taxation. which
amounted to 1913 437 161 in 1899, increased to
5000 40 100 in 1900. and the receipts from mis-
cellaneous sources Inclusive Of S11. 19S, 900 on
account of Central Pacific Railroad indebted
ness) which amounted TO S37, 024 1913 in 1890
increased to $50 JOG, 634 in 1900, and the
nenditures decreased The total for 1899
amounted to $605, 072 179, and for 1900 to $4S7.-
664 175 In the first two months Of the current
fiscal wear July and August the total receipts
amounted 10 500. 643.915, as compared with $685.
032 43I in the corresponding months OF 1890
and the total expenditures amounted to S104.-
4SS 653 as compared with Sl02. 0S3, 4O1 in the
corresponding months of last year.