The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1909-04-02
The Tariff and the Treasury.

The tariff measure that is now be.
fore congress will have some rela.
lions with the United States treas.
ury, and some efforts are being made
IN certain sections to show that II
the tariff on certain articles is
touched to any great extent that
trouble will result from the lines of
industry. The Omaha Bee touches
upon this point with considerable
interest in the following article:
1T would appear that the oppo-
nents of tariff revision have been
busy trying to create the impr ssion
throughout the country that the
Treasury department in Washington
is really in a bad way and on the
verge of bankruptcy, the purpose
evidently being to prevent and radi-
cal reduction of existing tariff sched-
ules for fear of the effect on the rev.
enues of the government. Many of
the articles recently printed have
directed attention to the disappear
ing surplus and have laid stress on
the necessity of going very lightly
with the pruning of the tariff sched-,
ules or else providing new sources
OF revenue.
The effect of this campaign of
publicity has been greatly relieved
by the statement just issued by
Louis A. Coolidge, assistant secre-
tary of the treasury, showing the
exact condition of the treasury bal
ances and placing an intelligent esti-
mate on the prospects of early re-
covery by the resumption of normal
conditions in the industries with the
resultant increase in foreign trade.
Mr.. Coolidge shows that the avail
able cash balance in the treasury on
March is, 1909, was $135,O87,999,
compared with $141, 49S,436 on
March Is, 1905, the beginning of
Mr.. Roosevelt's last term. The pres
ent cash balance is $6O,OOO,OOO
compared with only s37,OO0,0O0 on
March Is, 1905. The free gold in
the treasury fund on March Is, 1909
was $S7.531,S25, compared with
s57,5SS,250 on March Is, 1905.
The amount of actual cash in the
treasury, satisfying as it might be is
less significant than the figures show
ing the changes in receipts and dis
bursements of the department. The
revenues of the first fifteen days of
March were $6,OOO,OO0 larger than
for the same period of last year, an
increase of 81 per cent, while the ex-
cess OF expenditures over receipts
were $4,000,000 less, gain of over
is per cent. The revenues for the
first fifteen days of March were larg-
er than for any corresponding period
in the last five years, and it is con-
fidently predicted by treasury ex-
perts that the governments revenue
for the present calendar year, in
spite Of the dull trade in the first
two months will open equal to those
of any year in the nations history.
The treasury receipts from imports
are showing substantial gain. The
treasury is meeting all obligations
promptly and will continue to meet
them without resort to bond issue
of the emission of certificates and in
debtedness, such as have been au-
thorized by congress. 1t is natural to
expect that there will be lull in
import business pending adjustment
of the tariff schedules, but import
ers are already enabled to base their
lines not affected by the pending
tariff bill SO that the effect on Gus
toms receipts may not be material"