Democratic Sentinel, Volume 22, Number 7, Rensselaer, Jasper County, 19 February 1898 — DINGLEY TARIFF DEFICIT. [ARTICLE]

DINGLEY TARIFF DEFICIT.

Defenders of the Dingley tariff re calling attention to the tact i hot the January exports wire $9,» 100,000 in excess of those for the •orri sponding mon h ,ast year un lev the Wilson law. It is to be observed, however, that the friends of Dingley’s bill ire careful not to explain that dus ting last January there was an i crease of exports in two of the great food products of this country amounting io $11,000,000. It w' uld be quite consistent tor ihe republicans to claim that the famine in Europe was a result cf the Dingley .ariff. indeed, that sort of argument was made when wheat went to a dollar a bushel. Upon such a claim as that the credit for an increase of $9,000,000 exports for January last m* st rest. As a matter of fact, the Dingley tariff is going* right on producing a deficit, and during the la*t ten days the government has fallen the extent of a million dollars a day. In referring to this matter the New York Work" shows that the receipts for the last ten days were: ‘ From customs, $5,843,069.07, internal revenue, $4,115,102.22, and miscellaneous sources, $620,748,85; total, $10,578,920.14. Tiie expenditures were: For pensions, $5 995,000; war and navy, $2 390,000;mil and miscellaneous, 89,658,000, and Indians and inteiv est, $1,478,000; total. $19,521,000.” Under the circumstances it wo’d seem to be the part of discretion for Dingley defenders to remain silent. An increase of exports caused by a food famine is not creditable to the tariff, and a defio’t cf about a million dollars a day cannot be made grod by foolis -i and ungrounded claims.—Chicago Disoatch.

THE DINGLE Y DEFICIENCY. Atlanta Journal:.,Mr. Dingley has the prospect of a very lively summe . H s tariff bill continues to yield a deficiency, and it will requi.e about all the time be will have at his disposal to keep a supply of explanations b fore the pub ic. When the customs receipts be* gan to fall fear iully shortsoon after the Dingley bill was passed its author and its apologists declared that this wbs cue to tfie fact that very large importations had been made in anticipation of the increase in duties. There was ieason in this and the public was contented to give the new tariff a fair showing. Bu as the months pass Dingley’6 bill does ve.v littleb t* ter, if any. The receipts f rJan* uary show & deficiency of almost almost $8,000,000. From July 1, 1897, to the end of January the total deficiency, after deducting the sump paid by the Pacific railroads on their liabilities, amount* ed to over $51,000,000, which has made those who insisted that the Db gley law would produce a surdlus no end of difficulty. Nor ha e matt rs improved during the present monb . The deficit for February is increasing at the rate ot $300,000 a day. or $7,000,000 for the month. Thu ; during the first seven months of the present fiscal vs ar the treasury officials are called upon to meet a deficit of about $52,000,000. In November a statement was mad by tne treisury department that deficit for the fiscal year 1898 would not exceed $20,000,000. but in order Co verify such a prediction there must be a surplus of

over $6,000,000 a month up to the end of the ’ ear in June. Such an expectation is regarded as impossible and it is probable thatwtne close of the year will find a deficiency of iit lea t $65,000 000... There will be some increase in the a ext four and a half months but no treasury official v ill make tho claim that it will be large fenough to wipe out the existing deficit of $52,000,000. The effect of the Dingley tariff on the treasury would have been rar mere keenly realized it it had nut been for the large payments which were made on aciount of the Pacific railroads during the months ot November, December and January. These receipts so the months named amounted to $58,448,223. The secretary of the treasury clings to tLe hope of largely in-, ceased receipts this year from Bupar and wool,but estimates based on this project are purely conjectural. Mr. Dingley once referred to the Wilson tariff as a “deficiency maker.” Hiß epithet has returned to torment him, for his own tariff eclipses the record of all its pres decessorsas a failure from a revenue point of view. Lew. Wallace is too small. He cannot defame Gen. McClellan. Seneca Glass Company, of Morgantown, West Virginia, reduced wages January 31st, of its two hundred and fifty hands, from 15 to 20 per cent. Men are threatening to strike. Comoanv declared a 25 per cent, dividend just before the first of the year, The d-.structio . of the United Slates battleship Maine in the harbor of Havana was a most /errible and shocking affair, and if it should turn out to have been accomplished from shore, may result n war between this country and Span,-