Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1910-04-15

ever the statement made by Presl-
dent Taft and repeated by other Re-
publican leaders, that the present
tariff bill is the best law we ever
had. For not only have the new
features which were engrafted into
the law been eminently successful,
but the two greatest reasons for a
protective tariff, namely, revenue
and protection, have both come to
us in surprising degrees.
"As for the revenue 1t can be
judged how successful the new law
has been by the returns up to April
/. a year ago at this tirle the re-
ceipts from all sources for the nine
months ending March 81 were about
$3.50. 900, 600. while this year they
are about $3.50, 0OO,O 900. showing an
increase of about $4,000. 900. A
year ago the deficit was over $70,-
OOO, 900, while at present 1t is con-
siderably under $20,000,000, and
there seems to be no doubt whatever
that 1t will be wiped out altogether
| by the end of the fiscal year, and
that, too, without considering the
receipts from the corporation tax,
which is estimated to be from $685.
00O, 900 to $3O,000,000. In fact, as
a revenue measure there has prob
| ably never been tariff law on our
statute books that has adjusted IT.
self SO readily and so perfectly to
our expenditures. 1t will be ad-
mitted that a large surplus Is never
desirable, and of course we should
MT have a deficit, but to have the
expenditures and receipts run along
about together is just the desirable
attainment that should be reached
In a tariff law, and Is the result
under the law which we are now
operating.
1T is complained by many thai
our foreign trade has proven thai
the new tariff bill was not protective
enough in many of Its features. II
is true that our imports have in
creased largely under its operation
and that our exports have really de
creased, making our balance o.
trade smaller than for many years
II is not, however, shown that these
increased importations have to any
large extent displaced American
manufactures. 1t is to be conclud
ed that they are mostly luxuries ano
material to be worked up by oul
factories. So long as our people
continue TO be busy and fully EN-
, ployed as Is the case, just so Ions
will these increased Importation
not be burden but will contribut'
| in a degree TO our very prosperity
| In come cases, however, 1t Is appar
J ent that the new rates Of dutie
have allowed importations Of com
modities which We would prefer L
see produced in--this country. TIL
) however, such result interfere
: with American production and shut
r: of the American factories, W
should not complain. The situa
, ton, however, will be watche
: closely, and II we find that the rate
: in any particular schedule are to
low there will, OF course, be an agi
tation for an increase.
But taken as a whole the ne'
: tariff law is working almost per
fectly, and there is no dispositio
: on the part of any honest men t
: have the law changed for years I
D come. The demagogue and the agl
/ tator will no doubt continue
claim that there must be anothe
5 revision, but 1t is noted that tn
: people at large are well Statistic
with present conditions, and tina
the business men throughout tn
country would object to any chang
. at present"