The Delta independent. [volume] (Delta, Colo.) 1886-19??, 1923-08-03
TARIFFS AND REVENUES

washington, July 21-(Specia1 Cor
respondence)-The close of the fiscal
year. June 80. 1923, found Uncle Sam
adding to his receipts 1852, 1000, 900 in
customs revenues, the largest yield
from that source in our history The
fact calls for brief review of customs
duties during the past decade and a
half
The average yield of customs duties
during the four years in which the
Payne-Aldrich law of 1909 (Republi-
CAM was in operation was about $314,-
100000 annually on imports for that
period averaging s1,640, 100000 annual
ly. This meant an average ad valorem
rate Of duty on all imports for the
period of something like 10 per cent
The Underwood-Simmo law went
into effect the fourth of October, 1913.
At the close of the fiscal year 1914
the customs revenues totalled 1884
100000, according to the q. S. Stats
teal Abstract. OF this sum $4,000
tober Bird, while about $40 1000 900 was
collected from Republican rates on
wool. WOODEN goods, and sugar carried
over. From 1914 to 1921, inclusive,
the average annual yield from Gus
toms revenues was little under
$245 100000 with imports for the
eight years averaging almost $1,000
100000. or an average ad valorem
over the period of and a fraction
per cent. The high year was in 1920
when imports totalled IS ,238 900, 900
and duties 1926. OO0. 900. or an average
ad valorem of and a fraction per
cent
May 9th, 1921, the so-called emerg-
ency tariff law was passed by the
Republicans. with protective rates on
agricultural products, and the follow
ing fiscal year, ended June 80, 1922,
the customs revenues showed $685.
100000 Of imports. or an average of
nearly IA per cent. Thus, it will be
noted, the Democratic law as a reve-
nue. raiser hobbled in and hobbled out
on Republican crutches.
September %, 1922, the Fordney.
McCumber tariff law made its bow to
the public amid the Kisses Of the
porters. and the plaudits of the pro-
tectionists and their allies the manu-
facturers, farmers, and workingmen.
1t had been repeatedly stated in de-
bate that this law, IL enacted, would
so restrict imports because of its
alleged prohibitive rates, that no
foreign country could get into our
home market. hence the customs rev.
enues would be cut to the vanishing
point The Treasury Department was
not visibfy impressed by any such ho-
kum, for It estimated the customs re-
ceipts for the fiscal year at $l5,-
100000. To the surprise of the De.
-partment and the Republicans gener-
ally, the law boosted that estimate by
$112.000.0O0.
From the date Of its enactment up
TO and including June Both, last, the
acknowledgements tariff law yielded
Just short of $3.50 100000 of customs
revenues. June imports have not
been compiled, but on the basis Of
the prevailing ad valorem rate Of
duty they must have been in the
neighborhood Of $345, 900, 900. 80 that
the total imports under the Fordney-
McCumber law approached $1,000, 00O,.
900. or an average ad valorem of
slightly under Is per cent in the nine
months and nine days of its run-in
fact. almost precisely the average of
the Observation-Disclosures law for the
first nine months of its run.
The present tariff law is affording
fair protection to American agricul.
ture and industry. It is affording an
opportunity for foreign producers to
take generous advantage of the
purchasing power of country
whose prosperity began when the
Democratic law ended. It has routed
its enemies. and 1t is adding daily to
its friends. It is the lowest tariff
ever passed consistent with protect