Jasper County Democrat, Volume 6, Number 13, Rensselaer, Jasper County, 4 July 1903 — THE SURPLUS REVENUE. [ARTICLE]

THE SURPLUS REVENUE.

The collection of more than fifty millions of surplus revenue for the year, while the Treasury has an accumulated balance of two hundred and thirty millions, of which one hundred and fifty-five millions is with banks without interest, is certain to revive discussion of two phases of this absurd fiscal policy. It will stimulate anew the advocates of the Babcock idea ot reducing arbitrary and oppressive custom taxes on certain classes of imports. “Why impose an excessive tariff upon iron and steel and their products,” it will be asked, “when the domestic producer is so far from requiring protection that he cannot meet the country’s demand and it will be necessary to import them—forty-three millions in value during ten months?” In financial and general trade circles the big surplus will excite renewed demand for immediate legislation to prevent the persistent withdrawal of money from the channels of trade. These extortionate taxes put a burden upon the whole people in order that favored manufacturers may further tax them through higher prices. By heaping up a surplus in excess of Government needs they offer a standing inducement for extravagant and corrupt appropriations Worse still in some respects, the funds thus filched from the pockets of the people are placed beyond the use of the business community because of the existing law requiring all customs col-

lection* to be locked op in the Treasury vault*. —New York Herald. The Enquirer cannot add much enlistment by commenting on the Herald’s article; bat it is a joy to keep piling the facts before Congress, and statesmen who may be in Congress, so that there will be no excuse for not entering upon a greats public doty. Recent information is to the effect that President Roosevelt adheres to his purpose to call Congress in extraordinary session early in November, but it seems to be the general understanding that there is to be no serions handling of the tarifF question either at the extra or the regular session. It is possible that there will be ratification of a reciprocity treaty with Cuba, but it is’ given out that any farther action on the tariff is to be severely frowned on. Those who are in favor of revision —Republicans and Democrats—are to be permitted to do a reasonable quantity of speaking and swearing, bat they are to be shat off as speedily as possible, and on the great question of readjusting the tariff the anxious people are to be asked, “What are yon going to do about it?” The tariff is to be “revised by its friends,” but its “friends” will not be ready to go on with the work till after the Presidential election. Then what is to take place? If Congress continues in the hands of the party now in power, is faith to be kept with the beneficiaries of the present high tariff, or is the promise to the people to be redeemed? Can there be fidelity to both interests? Meantime the tariff question is looming up for consideration in the politics of next year. And some people say there is no issue in sight.—Cincinnati Enqnrer.