CanÌƒon City record. [volume] (CanÌƒon City, Colo.) 1883-192?, 1904-10-06
FOR REVENUE ONLY
a DEMOCRATIC POLICY AND
HOW IT WORKS IN PRACTICE
The Wilson Tariff Law and Its Stu
pendous and Disastrous Failure,
with Four Years OF Acco. panyinE
Business Disaster.

with Four Years OF Accos spanyinE
Business Disaster.
The Democratic policy has often been
announced to be "A TARIFF FOR
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
rnerely TO the anti-protection features OF
Democratic tariff tinkering. but TO the
very serious falling of In government
revenues which 1t occasionei.
When there is n condition OF uneer-
eainty and instability in business. which
Mr.. Parker himself has admitted follow
ed past attempts in the tariff tinkering
line, the imports of certain classes OF
dutiablc goods ore always sure to fall OF
even with ;he decreased tariff. for the
reason that the people consume less for
eiKn Injuries In hard times than In good.
With the foreigners flooding the Ameri-
can markets with articles that ear just
as well be produced by American labor.
our own people naturally have less hnan-
cial means with which 10 buy foreign
lsces. silks teas. wines. perfumes. dia-
monds, works of art. etc.
Az q revenuc-produs5nc measure the
Wilson tarsh law was 4 stupendous fall
ure. Its authors showed colossal bud-
ness incompetence in their failure TO
make IL supply anywhere near the
smount OF revenues required 20 meet the
sxpenses Of the government The reve-
sue from the Wilson bill fell short of the
estimates Of It's Democratic framcrs by
49,
this. inciuding its sugar import tax. TO
which many OF the Democratic leaders,
Including President Cleveland himself.
had been bitterly opposed This bill not
sniy did direct damage TO manufacturing
Ind ustry everywhere throughout the
country, bat Il had disastrous effects on
the nations credit, because IN causing
the revenues TO drop heavily below the
expenditures II forced the government to
draw for its routine expenses on the
treasury gold reserve. which was needed
60 preserve the gold standard of value.
and this shrinkare In the gold reserve In
turn ncccssitsted the enormous bond Is
sues In which syndicatcs secured their
rotorious ''rake-oFs-"
All through 1894 trade Decentralization
Increased. and the government revenues
for the Grst ak months Of the year turn
ed out 10 be about f40.000oo0 less than
the Democratic secs~tary OF the Treas.
ury, Mr.. Carlisle, had estimated they
would be In his report OF December.
1913. Nevertheless the Democratic lead
ers failed TO heed the warning. but went
ahead with their free trade tariff bill
without paying the slightest attention TO
whether or not the hill could produce
enough revenue for running the govern
ment-
Da~is Locke Out for Hts Own Revsnus.
The Hou-. Of Representatives not only
struck on the import taxes on coal. iron
ore. and wool. which were exclusively
protective dutics. and therefore logical
subjects for revision. from the Demo
cratic standpoint but IL refused TO con-
finue the sugar duties. which wore
revenue tsx OF the most productive char
scter. The Senate. through the infu-
ence Of II. O. Davis. now the Demo-
cratic vice presidential candidate. whose
vast fortune was represented chiefly In
coal hands. replaced the duty OF 40 cents
per tnn OF coal. which was an utterly
insignificant source of national revenue.
but II restored only such part OF the
sngar duties ss could play directly into
the hands of the sugar trust Consid-
cred merely as a law coutrived to pro-
duce sufficient revenue. the Senate hill
~as undoabteily superior TO the HOUSE
3ill. The Senate sugar tariff. II IL true.
produced espntuslly hardly one-half as
much revenue as had been yielded by the
sugar tariff of lSs3. but there was never
theless collected from this source. In the
FIRST full year under the amended Wilson
act. the sum of SO 9.sOo.Oo0. none OF
which revenue would have been obtained
by the government under the House bills
frec-surar pr,visionx. But the puhlic
refused for very obvious reasons 90 give
ths trainers OF the Senate amendments
any credit for this achievement. On the
eve of the passage of the Wilson hill
Ia the upper house II was discovered that
several Democratic Senator's. whose
votes coirtroilci action Oh the sugar du
ties. were speculating In Wall street In
sugar trust stock. The angry public
ciamor over these disclosure. was follow
I'd by an open letter from President
Cleveland to his supporters In the House.
declaring the senatorial changes to be
'outrsgceus determinations aud viola
tions of principle"--an assertion which.
In view OF the platform of the majority.
was certainly not unwsrrantcd. From
che floor OF the Senate. the Democratic
leaders retorted pubhcly with much
ahow of indignation. When, finally.
after q long anil stuhborn struggie, the
Senate tariff bill prevailed and passed
b,th houses. President Cleveland refused
% put his name 10 Il. and left the bill
GO become a law without his signature.
Fro,n mad 20 Worse.
The result OF this haphxxard reckoning
on the revenue was mw which never
produced surplus. Even with its sugar
import tax the yield Of the Senate bill.
In the succeeding year. fell short OF the
estimate ef its authors by no less = sum
than fS1 .O00OO0 For this exceedingly
ill-tim~d miscalcustion. the Democratic
Eiffx-fhlrd Cnnrress Is nrnnerlY held re.