Democratic Sentinel, Volume 21, Number 11, Rensselaer, Jasper County, 19 March 1897 — HUGE REVENUES. [ARTICLE]

HUGE REVENUES.

The Customs Record at New York la Broken. A record which has stood for twentyfive years was broken at the New York custom house Monday. The payment of duties for goods importedmnd on account of merchandise withdrawn from bond was the largest for any single day since the office was established. Until Monday the high water mark for customs duties was Aug. 1, 1872, when the total receipts were $2,308,000. The receipts -Monday ran nearly $360,000 above that mark. The total receipts were $2,667,979.51, of which $2,178,515.36 was on account of withdrawn entries. Though similar from the fact that both were recordjlays, Aug. 1, 1872, and March 15, 1897, are vastly different in other respects. Fenrs, of higher duties to be imposed by the Congress called in extra session led to the present withdrawals and heavy payments. Twenty-five years ago the war tariff was reduced 10 per cent., and goods accumulated in bond to take advantage of the lower rates were withdrawn. The present movement started with the negotiation of heavy lines by the importers of linens, tobacco, wool, woolen dress goods and men’s wear goods and other merchandise that might be affected by the new tariff. The sugar trust, which has an abundance of money “on call,” asked for payment—or “called its loans” for the same purpose. The borrowing by general merchants and the calling by the trust had the effect of stiffening rates for time and call money and commercial paper.