Rensselaer Republican, Volume 26, Number 31, Rensselaer, Jasper County, 29 March 1894 — WILL RAISE $381,000,009. [ARTICLE]

WILL RAISE $381,000,009.

Estimate of the Amount of Re venue tlu New Tariff Bill Will Produce, Tho estimates of the amount of revenue which the tariff bill as reported to the Senate will produce, show that tho amount will be about 8381.CC0,C00. This is a reduction of between 113,000,003 and 814,000,000 from tho estimates in the first bill reported to the committee. The principal reduction is made in the internal revenue part of the bill through the restoration of the present tax rates on domestic cigars and cigarettes, which amounts to a loss of over 810,000,000, There will also be an appreciable falling off in tho duty on tin plate caused by changing the duty on the importation from 11-15 cent to I per cent, per pound. Tho change in the fruit schedule whereby bananas, pineapples and cocoanuts are taken from the dutiable list will make up the other principle items of loss. Bananas are imported in large quantities, and the imposition of adutyoi 2 cents per pound, as first imposed by the committee, would have produced a revenue of 81,072,236. The committee found that tho bill would produce more revenue than would be needed, and as bananas are not produced in this country outside of a small section on the Gulf of Mexico, it was decide! to restore them tc the free list. As tho bill stands it will produce at least 830,000,000 more of revenue than will be needed.