Idaho Springs siftings., 1904-10-08

REVENUE ONLY" And what this high
sounding policy always in practice has
prodaced is DIMINISHING REVENUE E
AND INCREASING DEFICIT.
The great business depression which
evertook the country during the last
Democratic administration was due not
merely to the anti protection features Of
Democratic tarih tinkering. but 10 the
very serious falling of in government
revenues which II eecssioned.
When there is condition of sncer-
taiuty 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
dutiable goods are always sure 10 fall of
even with the decreased tariff. for the
re~son that the people consume less for
eign Injuries in hard times than in good.
With the foreigners flooding the Ameri-
can markets with articles that can just
as vel be produced by American labor.
eur own people naturally have less hnan-
ciai means with which 20 buy foreign
iaces. silks teas. wines, perfumes, dia-
monds. works Of art. etc
A q reyenue-producing measure the
Wilson tariff law was a stupendous fail
ure< Its authors showed colos sal busi-
oess Incompetence in their failure to
mike II supply anywhere near the
amosnt 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 leas sum than 100000. and
this. including its sugar import tax. to
which many OF the Democratic leaders.
Including President Cleveland himself.
Aad beea bitterly opposed. This bill not
snly Aid direct damage TO manufacturing
Ind osfry everywhere throughout the
country. but II had disastrous effects on
the nations credit. because in causing
the revenues % drop heavily below the
expenditures II forced the government 20
draw for its routine expenses on the
treasury gold reserve, which was needed
10 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-ofs."
All through 1894 trade decentralization
Increased, and the government revenues
for the first six month"; OF the year turn
ed out To be about s4O.OO0.OOO less than
the Democratic Secretary of the Treas
ary. Mr.. Carlisle. had estimated they
would b In his report OF December.
1898. Nevertheless the Democratic lead
ers failed to heed the warning, but went
ahead with their free trade tariff bill
without paying the slightest attention 90
whether or not the bill could produce
enough revenue for running the govern
meuf
Dsvis Looks ou. for His Own Revenus.
The House of Representatives not only
struck of the import taxes on coal. iron
uhfah ali "
protective duties. and therefore logical
subjects for revision. from the Demo
cratic standpoint. but II refused 10 con
6nue the sugar duties. which were n
revenue tax of the most productive char
scter. The Senate. through the infiu
eoce of II. G. Davis. now the Demo
cratic vice presidential candidate. whose
vast fortune was represented chiefly in
coal lands. replaced the duty OF 40 cents
per ton on coal. which was an utterly
insignifcant source of national revenue,
but II restored only such part of the
sugar duties as could play directly into
the hands Of the sugar trust. Consid-
cred merely as law confrived TO pro-
duce sufficient revenue. the Senate bill
was undoubtedly superior 10 the House
DILL The Senate sugar tariff, 1t Is true.
produced eventually hardly one-haif as
much revenue as had been yielded by the
sugar tariff Of 1888, but there was never
theiess collected from this source. in the
first full year under the amended Wilson
act, the gum of 500 800, 600. none of
which revenue would have been obtained
By the government under the House bills
free-sugar Provisions. But the public
Refused for very obvious reasons to give
ths trainers Of the Senate amendments
g. nn ha
eve II the passage OF the Wilson bill
n the upper house it was discovered that
ssveral Democratic Senators. whose
votes controlled action on the sugar du
ties. were Specializing in Wall street in
sugn trust stock. The angry public
clamor over these disclosures was follow
I'd b. an open letter from President
Cleveland to his supporters in the House.
declaring the senatorial changes to be
~outrageous determinations and VIOLA
eions OF principie"-an assertion which,
ln view Of the platform of the majority.
VS. certainly not unwarranted. From
the door Of the Senate. the Democratic
leaders retorted publicly with much
show Of indignation When, finally.
after q long and stubborn struggle, the
Senate tariff bill prevailed and passed
bo6h houses, President Cleveland refused
% put his name to Il. and left the bill
- become law without his signature.
Fsom Had 20 Worse.
TIE result Of this haphazard reckoning
>n the revenue was a law which never
producsd q surplus. Even with its sugar
import tax the yield of the Senate bill.
In the succeeding year, fell short Of the
estimate Of its authors by no less sum
ehan SS7 900. 900. For this exceedingly
nI-timsd miscalculation. the Democratic
Fifty third Congress is properly held re-
spondbls for the necessity Of snbseQuent
eond issues. II 10 true that both houses
~ added to the bill a tax Of two per
eeut On Incomes over $1,000. and In .
vagus. indefinite way had reckonsd that
IL neoduct Of this tax would make good
vhnAsvsr de6cisncies might arise from