Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1909-04-22

1897 and ss4o.occ,oco under the Senate
bill.
This increase Of revenue IL due TO
advances In rates to q few articles Of
luxury, such as wine. spirits, etc II Ia
also due to the substitution made in the
bill. In all cases where II was possible Of
specific for ad valorem duties This will
Tevent differentiation and consequently
increase revenues. This Increase will he
more marked In the silk schedule than
elsewhere.
MORE CHANGES PROPOSED.
There are other changes which will be
included in the Mill that will affect the
comparative revenues
1.-THE changes which we propose to
make in the administrative act include
(D new definitions OF dutiable value and
new methods in its proper ascertainment;
f2) more efficient collection on machinery:
and (S) a provision for the creation Of a
customs court to insure uniformity of
decisions in customs cases. The provis-
ions suggested will. in the opinion OF the
committee, result in the collection Of a
certain percentage more revenue In the
importation Of the same articles than
was collected under the act Of 1897.
The extent of the undervaluations prac-
ticed under existing law Ia variously es-
t,niated at from 10 to rs per cent. Of the
revenue collection. If any considerable
PORTION OF This practice Is corrected by
tho provisions I have alluded to we can
certainly safely add s5,ncooo to the esti-
ihate of revenue Of the year 1910 making
total estimate Of revenue for 1910. bas-d
upon the importation of 1907. si45 coo, COO
have assumed that the importation of
1907 is the proper basis for comparison.
We should not lose sight Of the fact that
there will be approximately four millions
Ct people more in the United States to
be provided for in 1910 than in 1907, and
IL ether conditions ROMAN the same there
will be natural increase from this
cause. The committee believe that the
extent Of importations and resulting rev.
cnLe will be greater in 1910 than in 1907,
because Of improved business condition.
IMPROVEMENT ALREADY BEGUN
business activity and the movement
for increased importations has already
commenced. We can feel the change
in the air. The customs receipts for
the 30 business days from March l TO
April Is. inclusive, Increased. az COM
pared with the corresponding days IN
'9os, s12.o3l.Ha3 or an average
daily increase of S2e1.54-.50. This in
crease seems to be progressive. MS the
report for the last day which I have.
April 1G. shows receipts from all
sources S2,072.071.SG, az compared with
receipts OF si.2S3.321.3O on the cor
responding day Of last year The to-
rnr
toms for tho frat G days Of April were
s15,o7c. 1oG.e7, against s11,oss,277.15 in
April Of last year and the statement
OF the lst to the 10Th of April shows
an excess of receipt. over expenditures
this year of $5l2,9.9.s2, as against an
excess Of expenditures over receipts of
the corresponding period of last year
of sG.61s.o2S.ss.
There is no incentive for these on
larged inportations except improved
conditions of the country and reduced
stools of imported merchandise" said
Mr.. Aldrich. The character of the
legislation proposed furnishes no rea-
son for accelerated imports, as there
are practically no rates above tho
rates imposed by the act of 1897 1t
must he conceded that the era of pros
rerity which commenced the first part
Of March is likely to continue unin-
terruptedly with the enactment of
wise tariff legislation.
Those who do not believe in this con-
tirued march OF improvement have little
knowledge OF the recuperativc powers
Of the American people and fan to meas
ure correctly the force of the spirit of
confidence which will accompany a guar
antee Of security and industrial PEACE.
ESTIMATES VERY CONSERVATIVE.
The estimates which have made Of
increased revenues growing out o. this
change in conditions are most ccnserva-
tive. If the same rate of increase which
has obtained since the fr.t o. March
should be applied to the eight months Of
the fiscal year 1910. not covered by the
p+riod OF Improvement In this year, we
should then have an increase over the
receipts for the present nscal year. $685.
oOs,coo. OF "a. 4ol. 3e5. making a total Of
1919, 1000 without taking into account
the additional sources Of revenue provid-
ed for.
For the year 1911 I have estimated an
increase OF revenues OF 80 5000 and
reduction Of expenditures of sa5 ooo, 900, a
consequent surplus of $50. o00, ono. This
surplus would certainly continue under
normal business conditions There can
be no reasonable question OF the sum
cheney of the Senate bill to provide ade-
quate revenue
IF the statements 7 have submitted
are approximately correct, the important
question arises: In what way Is the
treasury to take care of the deficiencies
| have indicated for the present and the
following fiscal year." inquired the sena-
tor from Massachusetts,.
CONDITION OF THE TREASURY.
1.-THE treasury has to-day including the
81. 6s1. z76.sS which 1t is entitled to re-
eeive for Reimbursement Of canal ex-
penditures. practically sloo. oOo, 900 OF avail
able surplus over necessary working
balance. This surplus Ia likely to be
reduced, say Sc, ooo, 900 between now and
the ath Of June by additions to the
deficiency for the current fiscal year,
leaving on date an available surplus Of
81, 600. oo0 II the estimates which | have
made for the year 1910 are accurate, the
estimated deficiency Of $i5 Con, COO in that
year would still leave a surplus in the
treasury Of 49, 000, 000. which would be
increased from time to time In the sub
sequent years.
"In estimating the treasury surplus, I
sold from time to time to an amount
which will reimburse the treasury for all
payments on account Of the canal and