White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1912-09-22

PROSPERITY
PRESIDENTIAL CAMPAIGN FAILS
TO ARREST NATIONAL BUSI-
NESS ACTIVITY-INCREASE OF
CUSTOMS.

social conditions are one in yoieing
their surprise at the evidences of con-
tinued national prosperity and the
indications are that it viii Increase
rather than diminish in face of politi-
cal conditions that have heretofore
almost invariably operated as a
check upon good times. says a Wash
ington correspondent in the Boston
Financial News.
1T looks as if the turbulent poll
tics of a presidential year and the
prospect for an overhauling of the
tariff schedules for once in our his
tory. eannot arrest our national pros
perity,' said Acting Secretary James
Freeman Curtis of the treasury de-
partment.
Custom receipts have been steadi-
Is increasing since the first of the
year. Last January I was asked to
submit an estimate on the state of
the custom receipts as they would
appear at the end OF the fiscal year
June 30, 1912. At that time there
was a defct of $4,000. 600 in customs
revenues compared with the eompar-
ative period a year before. There
was nothing in the situation at that
time TO indicate an Improvement in
conditions. So when | submitted an
estimate that there would probably
be a deficit of 5000. 900 in customs
receipts for the fiscal year ending
June 50 last, compared with the pre-
yious year. | felt my estimate was
conservative. Shortly after January
l the customs receipts commenced
to increase. Instead of a defect of
SIS, 600 GOO on July /. the customs
revenues we're but $4,000, 600 be-
low what they were the year before.
"Since then the situation has i'm
proved until today with less than
three months of the new fiscal year
gone by, our receipts are approx
mately $40. 900. 900 more than last
year and still increasing. At the
present rate We should have instead
of a deficit for this year, a surplus
of probably $4,000, 900 for the fiscal
year ending June 80. 1913.
The situation is all the more re-
markable in view of the continued
agitation for a revision of the tariff
downward. A prospect of tariff
legislation has had the effect in the
past almost invariably to curtail i'm
p~ortations and diminish customs
receipts.
Generally, a presidential election
has lessened importations. Treas
ury conditions generally are unusual
ly hopeful. There is no way t. ex-
plain the heavy customs receipts ex-
on the theory hat imports no
longer stand in awe of policies of
prospective tariff legislation. For a
time it was thought by some experts
that the increase in customs dues be-
ginning last January was to be ac-
counted for By a sudden activity on
the part of importers, who had long
been held in suspense by prospects
for a revision of tariff rates. In
mediately following the passage of
the Payne-Aldrich law there was a
popular outcry against it and the
threat was made that the revision
would not be allowed to stand.
THE elections in 1910 were con
strued by many as popular dissatis-
faction with the tariff legislation in
the Payne-Aldrich law and as vote
ing a demand for another and lower
revision. The effect of this situation
on importations might have been a
deterrent one for a time and some of
the experts thought the increased
importations early in the year was
the manifestation of a demand for
foreign goods long pent up by fear
of new tariff legislation.
But the prospects of tariff revision
is Just as imminent today or more so
than any time in the last three years
and the increased imports that be-
gan in January were not spasmodie,
but have continued to show a steady
increase up to the present time. 1t
is an unusual but gratifying situa-
ton. II proves that our national
prosperity is so substantial and per-
manent that political agitation IAN
not disturb it,"
Private reports as TO crop condi-
ditions throughout the country bear
out the government report issued a