The Teton peak. [volume] (St. Anthony, Idaho) 1899-1904, 1904-10-06
FOR REvtAuE ONLY
4 DEMOCRATIC POLICY AND
HOW WORKS IN PRACTICE.
The Wilson Tariff Law and 1ts stu
pendous and Disastrous Failure,
with Four Years Of Accom- panying
Business Disaster.

Business Disaster.
The Democratic policy has often been
announced to be "A TARIFF FOR
REVENUE ONLY" And what this high
sounding policy always in practice has
produced is DIMINISHING REVENUE
AND INCREASING DEFICIT.
The great business depression which
overlook the country during the last
Democratic administration was due not
merely to the aifti-protection features Of
Democratic tariff tinkerng, but to the
very serious falling off in government
revenues which it oceasioned.
When there is condition of uncer-
tainty and instability in business. which
Mr. Parker himself has admitted follow
ed past attempts in the tariff tinkerng
line. the imports of certain classes OF
duiable goods are always sure to fall eff
even with the decreased tariff, for the
reason that the people consume less for
egn luxuries in hard times than in good.
With the foreigners flooding the .Ameri-
can markets with articles that can just
as we'll be produced by American labor,
our own people naturally have less finan-
cial means with which to buy foreign
laces. silks. teas. wines, perfumes. dia-
monds, works of art. etc
AS a revenue-producing measure the
Wilson tariff law was a stupendous fail
ure Its authors showed colossal bust
ness Incompetence in their failure to
make it supply anywhere near the
amount Of revenues required to meet the
expenses of the government. The reve-
nue. from the Wilson bill fell short of the
estimates of its Democratic trainers by
no less a sum than S1,OOO.OOO. and
this. including its sugar import tax, to
which many of the Democratic leaders.
including President Cleveland himself.
had been bitterly opposed. This bill not
only did direct damage to manufacturing
Industry everywhere throughout the
country, but it had disastrous effects on
the nations credit. because in causing
the revenues to drop heavily below the
expenditures it forced the government to
draw for its routine expenses on the
treasury gold reserve which was needed
t. preserve the gold standard of value,
and this shrinkage in the gold reserve in
turn necessitated the enormous bond is
sues in which syndicates secured their
notorious ''rake-offs.''
All through 1894 trade decentralization
increased and the government revenues
for the first six months of the year turn
ed out to be about $40000.00O less than
the Democratic Secretary OF the Treas
ury. Mr.. Carlisle. had estimated they
would be in his report of December.
1898 Nevertheless the Democratic lead
ers failed to heed the warming, but went
ahead with their free trade tariff bill
without paying the slightest attention to
whether or not the bill could produce
~.
ment.
Davis Looks Ont for His Own Revenue.
The House of Representatives not only
struck off the import taxes on coal. iron
ore. and wool, which were exclusively
protective duties, and therefore logical
subjects for revision. from the Demo
cratic standpoint. but it refused to CON
tinue the sugar duties, which were "A
revenue tax of the most productive char
acter. The Senate. through the infu-
ence Of II. G. Davis. now the Demo
cratic vice presidential candidate. whose
vast fortune was represented chiefly in
coal lands. replaced the duty of 10 cents
per ton on coal which was an utterly
insignificant source of national revenue
but it restored only such part of the
sugar duties as could play directly int
the hands of the sugar trust, Consid-
cred merely as Il law contrived to pro
duce sufficient revenue. the Senate bill
was undoubtedly superior to the House
Dill. The Senate sugar tariff. it is true
produced eventually hardly one-half n,
much revenue as had been yielded by the
sugar tariff of 1883. but there was never
theless collected from this source. in the
first full year under the amended Wilson
act, the sum of $500. 900, none OF
which revenue Wonld have been obtained
by the government under the House bilf'
free-sugar provisions. But the publ,
refused for very obvious reasons to Civ,
the trainers of the Senate amendment,
any credit for this achievement. On thu
eve C the passage of the Wilson bill
ia the upper house it was discovered tina
several Democratic Senators. who's
votes controlled action on the sugar du
ties. were specializing in Wall street il
sugar trust stock. The angry publ
clamor over these disclosures was follow
ed by an open letter from Presden
Cleveland to his supporters in the House
declaring the senatorial changes to b
Outrageous Determinations and viola
tons Of principle'-an assertion which
in view of The platform of the majority
was certainly not unwarranted. From
the floor of the Senate. the Democrat
leaders retorted publicly with niue
show of indignation. When. finally
after long AMI stubborn struggle. tn
Senate tariff bill prevailed and passe
both houses, President Cleveland refuse
to put his name to H. and left the b
To become a law without his sigma tlire
From Bad to Worse.
The result of this haphazard reckonin
OH the revenue was IL law which neve
produced surplus. Even with its suga
import tax the yield of the Senate bill
in the succeeding year. fell short OF tn
estimate of its authors by no less SUI
than SSI.000OO0 For this exceedingl
i'll timel Decentralization. the Democrat
Fif.y-third 90 sresS is properly held r,
spc s5ie Tor the necessity If subsequer
bad iSsJ@s. 1t is true that both house
had l8t,i 70 the bill Il tax of two pc
ceAt o. incomes over $1,000. and in
vasa~. iMie..H.te way had reckoned tha
the pro lari 81 this tax would make goo
whatever deficiencies might arise frol
other ;s'hefin - The income tax did NJ