The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1916-05-09

and the consuming power Of Europe
has returned to something like normal,
the United States will be the great
free trade market Of the world, if the
Democrats are then in power.
The revenue-produeing ability of the
Underwood law for March was miser-
able indeed, only $21, 100000 being
realized on the vast amount of i'm
ports, or an average rate Of duty IN
all goods imported during the month
if 9.S per cent. The record for the nine
months ended with March is equally
bad in respect to revenues. We i'm
ported during that period $l,505, 600,
900 worth of goods. This is $103 ,00O,
600 more than was imported for the
nine months period ended March 1913,
under the Republican law, but the
revenue collected up to and including
March 1916 was sos, SOC, 900 less than
for the period ended March 1913. For
the nine months just past customs du-
these amounted to 1853, 000, 900, or an
average rate of duty for the period
Of 10 per cent During the nine months
ended March 1913, under Republican
law, on $I,4O2, 100000 of imports we
collected $3.50, $4,000 of customs rev
enue, or an average rate of duty of Is
per cent.
Nine months of the current fiscal
show a net inward gold move
ment of 1919, 1915, 302. This is money
coming from Europe to be used toward
Iiquidating our trade balnces against
the belligerents. The record for the
period just previous to the outbreak
of the European war tells quite ano-
ther story The Underwood tariff law
had been in effect ten minths before
the war started. Our favorable trade
balance began to decrease with start
ling rapidity Immediately after the
passage of that law. By April it was
against us. In other words we were
buying more than we were selling. The
balance continued against us each
month rising to SO, 100000 in August
The effect of war orders had not yet
become manifest. During the eight
months ended August 1914, our gold
exports totaled nearly $100,000,000.
Not only did the Republican tariff
law protect American industry and
American w~orkingmen, but it kept the
United States treasury in good shape,
When Woodrow Wilson stepped into
office the outgoing Republican admin
istration was able to hand over to
him a handsime surplus to set up
housekeeping for Uncle Sam. On
March 81, 1913, there was a total bal
ance in the general fund of $l4S, 500,
600. Eighty millions of that was set
aside as a working balance. Demo
cratic extraagance and the failure OF
the Underwood law as a revenue pro-
Queer Quilted the treasury in short or
der. At the end of March, 1916, out
standing claims against the govern.
ment, unavailable assets, etc, amount
ed to $40, 433, 900. McAdoo reported
a balance at that time of 1926, 745, 695,
which was $13,6S7 900 less than these
outstanding claims and unavailable
assets. The Secretary if the Treasury
has twice changed the system of gov
eminent accounting in order to hide
the conditiins of the treasury, and it
is stated that another method Of book
keeping is soon to be adopted, in order
to put up a bluff at the close of the
fiscal year. And if a "working bal
ance" should show up around the L.
S. treasury they would ehloroform il
and send it to Redfeld's trade mu.
scum,