The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1914-10-02
REVENUE SHORTAGE
AND THE TARIFF
Samuel H. Barker in the Philadelphia
North American.

Samuel H. Barker in the Philadelphia
North American.
In calling upon Congress to i'm
pose new taxes upon the American
people such as will raise $l00,000,000
additional revenue for the federal
government, President Wilson sought
to charge. the necessity for such an
action almost wholly to the European
wan. In measure, that conflict is re-
sponsible for the falling off in Ameri-
can revenue. But when the Presi
dent says that the so much smaller
receipts are due in chief part, not to
reductions recently made in the Gus
toms duties" figures challenge the
statement.
The existing tariff went into effect
October 3 last. For the fiscal year
ended June 80, covering nine months
under the changed tariff, customs col
lections were $26,OO0000 less upon
imports, $81 100000 greater in amount
than for the previous fiscal year. All
this was before European war was in
prospect. Had the duties in effect
under the former tariff been collected
on the imports for the latest fiscal
year, the revenue would have been
some $332, $4,000.
The customs revenues actually col
lected during the latest fiscal year
amounted to 1922, $4,000. Here is a
loss to the government of $40,0OO,OOO,
if it is assumed that imports would
have reached as large volume under
the former duties. For July, the latest
month for which statistics are public,
and for seven months of this year,
all under the present tariff, compared
with the corresponding period of last
year, all under former higher duties,
the government figures tell story OF
important present bearings.
They show for seven months inn
ports Of ST, l4l ,0o4000, an increase OF
22,445, 900, and exports of 81 ZOO
o25, 900, a decrease of $l27 ,347, 600
Imports free of duty increased $751;
10000; those subject to customs
charges decreased $50, ,0O0 The
largely different foreign trade situa-
ton which has come under the new
tariff has had and is having greater
effect upon the American people than
upon the federal government.
Undoubtedly the war has had big
influence in cutting down imports
and it is wholly probable that its eff
feet will continue to be to restrict
shipment of goods to the United
States. Irrespective of tariff dutie:
this has and will cut down customs re
ceipts The war has brought matters
to a head for the United States Treas
ury, and President Wilson has gone
to congress with budget showing ;
deficit to be made good.
That is the least end of the propo
sition which confronts the American
people. Because of the heavy de
crease in the merchandise balance o
trade and the new troubles whicl
have been created by the war, the!
are being made to pay their debts il
gold. The great city of New York ha
just agreed to pay 6 per cent. TO
$l0O,OO0000, payable serially in one
two and three years. OF this borrow
ing, about $SO,000,000 goes to pay tn
municipal loans due abroad betwcel
now and the end of the year,
1t was the necessity to provide thi
$50, 100000 in London that oblige
New York City to agree to such stii
terms. The difficulty lay primarily j
arranging for cash credit abroad