Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1910-12-09

u00 OF me canal ia ~ q
Against the .sstimates OF sxpendi.
lures. @eS0. 4oA o13.12. We have esd
matsd receipts for next year ESQ.,.
100000. making probable surplus Of
ordinary receipts over ordinary Ok.
penditures Of about @5Q000.O00, or,
| taking Into account the estimates for
the Panama. canal which are e56,92o,.
647.D and which will ultimately b
paid In bonds, It viii leave a deficit
for the next year Of about $7.OO0,OO0
Il congress shall conclude to fortify the
canal The cost Of the Notifications
= about e19, 100000 Should there be
ne appropriations this year for fortiH-
cations then there would be, even In.
Guiding the Panama canal appropria.
don, . surplus Of about @12.OOO,OOO.
Il b not essential to the preventing
Of smuggling that customs districts
should b. increased In number. The
Violations. Of the customs laws can be
quite ~ easily prevented and much
more economically BY the revenue cut.
ter service and BY the uss Of the spe-
cial agent travelling force Of the treas.
ury department.
Very great improvements have been
made ia respect to the mints and A.
say o6lces. Dlminished appropriations
have been asked for those whose con-
dnuance b unnecessary, ana this
years estimate OF expenses is &S28.OO
less than two years ago.
In the bureau Of engraving aud
printing great economies have been
effected. Useless divisions have been
abolished. with the result Of saving
$4,000 this year In the total ex-
penses Of the bureau despite increased
business.
Nsvenues.
As the treasury department il the
one through which the income Of the
government 10 collected and it's expend-
iturts are disbursed this seems q
proper place to consider the operation
Of the existing tariff bill. which BE-
came q law Aug. g. 1909. A. An In.
come producing measure the existing
tat19 bill has never besu exceeded b.
any customs bill In the history Of the
country.
The corporation excise tax. proper
toned to the net income of every bust
ness corporations in the country, has
worked well. The tax has Been easily
collected. Its prompt payment indi
Gates that the incidence of the tax has
not been heavy. 1t offers. moreover.
an opportunity for knowledge by the
government Of the general condition
and business Of all corporations. and
that means by far the rsnsi important
part of the business Of the country. In
the origina. act provision was made
for the publication OF returns This
provision was subsequently ameuded
BY congress and the saafiss fefl TO the
regulation of the president have dj
recfed the issne OF the needed rpgnia
Hous and have made j, possible for tt.
puDiac gsuo.a1y % EEr- from al e:
animation OF the record the returns o
all corporations the stock Of which
listed on any pubic stock exchange o
ID offered for sale to the general pu,
lie by advertisement or otherwise. TIE
returns OF those corporations who's
stock Is hot so listed or offered fc
sale are directed to be open TO the in
spectiou and examination OF creditor
and stockholders Of the corporation
whose record il sought, The return.
OF all corporations are suhiec, to th.
inspection OF any government officer o,
to the examination Of any court, Ii
which the return made by the corpora
ton fs relevant aud competent eys
dence.
The Payne Tariff Act.
The schedules OF the rates OF 6uty
In the Payne tariff act have been sub
jected to great deal Of criticism
some Of 1t Just. more Of it unfounded
and to much misrepresentation. The
act was adopted In pursuance Of
declaration by the party which is re
sponsfble for, II that a customs bil
should be q tariff for the protection
of home industries, the measure Of tn.
Protection TO he the difference hetwepr
ne cost of i;iosili:ii.s .ii. Imported
f1cle abroad and the s-epsi OF rru.i,,a.in.
L at home. together ui,h surh add
hon to that difference NJ might Civ
reasonable profit to tht. home Pre-
lucer.
The basis for the criticism Of ID
tAa6 is that In RESPECT to q number
II the seAcduies the declared measur.
vas not followed, but higher diHel
snce retained or inserted by way OF
Undue discrimination In favor Of Ger
ain Industries and manufactures.
Little. II any. of the criticism Of tn.
arfff has been directef! against tn
protective principle above stated. bu
he main body of the criticism has beef
,ased on the charge tina, the attemp
o conform to the measure OF protec
ION was not honestly and sincerely ad
,ered 10.
Tariff Dcard.
The time In which thu. tariff was pre-
AIRED undoubtedly was SO short AZ to
make It impossible tor the congress-
nd Its experts to acquire the inforina
lon necessary strictly to conform to
be declared measure. In order to avoid
ritfcism OF this kind In the future and
N the purpose of more nearly conform
e to the party promise congress at it,
ut session made provision ut my re-
nest for the continuance Of q board ere
ted under the authority Of the maxi
lum ana minimum clause Of the tariff
d and authorized this board to expend
Ne money appropriated under my d.
,ction for the ascertaInment Of the
ut Of production at home and abroad
the various articles included 10 the
:hedules Of the tariff. The tariff
lard thus appointed and authorized
- been diligent in preparing itself for
V necessary Investigations. The hope
those who have advocated the use
this board for tariff purposes IL that
% question Of the rate Of 4 duty I'm