Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1904-10-07

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 REV ENUE
land INCREASING DEFICIT.
The great business depression which
overlook the country during the last
democratic administration was due not
merely to the multiplication features Of
Democratic tariff tinkering. but to the
very serious falling off in government
revenues which it occasioned.
When there is a condition of uncer-
|rtainty and instability" in business. which
Mr. Parker himself has admitted follow
| Led past attempts in the tariff tinkering
line. the imports Of certain classes OF
-dutiable goods are always sure to fall of
even with the decreased tariff. for the
reason that the people consume less for
.eign Injuries in hard times than in good.
With the foreigners flooding the Amari-
can markets with articles that can just
as we'll be produced by American labor,
our own people naturally have less flnan-
-cial means with which to buy foreign
Iaces, silks. teas, wines, perfumes. dia-
smonds, works of art, etc.
AS revenue-producing measure the
Wilson tariff law was stupendous fail
cure. 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 $S7,000,000 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
60 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 Generalization
Increased, and the government revenues
for the first six months of the year turn
ed out to be about S40,000,000 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 warning, but went
Ahead with their free trade tariff bill
without paying the slightest attention to
whether or not the bill could produce
enough revenue for running the govern
sment
Davis Looks Out for HE 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 inhu
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 40 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 into
the hands of the sugar trust. Consid
cred merely as q law contrived to pro-
duce sufficient revenue, the Senate bill
was undoubtedly superior to the House
bill. The Senate sugar tariff, it is true
produced eventually hardly one-half as
much revenue as had been yielded by the
sugar tariff of 1888 but there was never
'theless collected from this source, in the
'hrst full year under the amended Wilson
act, the sum of $29, 100000, none of
which revenue would have been obtained
by the government under the House bils
free-sugar provisions But the public
refused for very obvious reasons to give
the trainers of the Senate amendments
any credit for this achievement. On the
eve of the passage of the Wilson bill
sn the upper house II was discovered that
several Democratic Senators. whose
votes controlled action on the sugar du-
ties, were specializing in Wall street in
sugar trust stock. The angry public
'clamOr over these disclosures was follow
ed by an open letter from President
Cleveland TO his supporters in the House,
declaring the senatorial changes to be
Outrageous determinations and viola
tions Of principle"-an assertion which.
Sin view of the platform of the majority.
was certainly not unwarranted From
the hoor of the Senate, the Democratic
leaders retorted publicly with much
show of Indignation. When, finally.
after a long and stubborn struggle, the
Senate tariff bill prevailed and passed
both houses, President Cleveland refused
TO put his name to it, and left the bill
Ito become law without his signature.
From Had to Worse.
The result OF this haphazard reckoning
ION the revenue was law which never
aprodueed surplus. Even with it's sugar
import tax the yield OF the Senate bill.
On the succeeding year. fell short of the
estimate of its authors by no less sum
than SS7,000000. For this exceedingly
fll-timed miscalcuation, the Democratic
Fifty -third Congress is properly held re-
sponsible for the necessity OF subsequent
bond issues. 1t is true that both houses
had added to the bill tax Of two per
cent on incomes over $4,000 and in a
vague, indefinite way had reckoned that
the product of this tax would make good
whatever deficiencies might arise from
other schedules. The income tax did not
stand the test of examination by the