Rensselaer Republican, Volume 26, Number 49, Rensselaer, Jasper County, 2 August 1894 — WAS THE REVENUE SUFFICIENT? [ARTICLE]

WAS THE REVENUE SUFFICIENT?

Mr. Horace Wing, of Zainsville, N. T., propounds a question -4o Hon. R. G. Horr which has often been asked and which has received different answers according to political bias. The question is: - Did . the. McKinley tariff law provide money enough for the necessary running expenses of the Government during Mr. Harrisons administration. Mr. Horr answers in the New York Tribune in his usual terse and convincing manner as follows: “Mr. Wing has not asked exactly the question which he intended to ask. The Government of the United States has other large revenues besides those received from the duties on goods imported from foreign nations.

The money received from internal revenue taxes amounts each year ter a large sum. The post-office receipts are also very large. The question this correspondent no doubt intended to ask was this: ‘Were the receipts from the duties collected under the McKinley- law, ■tengethex -withthe' other revenues of the Government during the administration of MrHarrison, sufficient to meet the running expenses of the Government?’ , ; ‘‘l answer, most certainly they were. During the administration of Mr. Harrison, the Secretary of the Treasury purchased and retired over $250,000,000 of Government bonds besides meeting the jyinning expenses of the Government. The revenues of the Government began to shrink, however as soon as the result of the election of 1892 was known. Mr. Harrison was compelled to manage for four months with receipts growing less. He no doubt'pur-

chased and retired more bonds than he would have done had he known what was going to happen. The revenues arising from f,the McKinley law must be considered as at a time when the law was in full force, not as after the markets of this country had been injured by th® prospects of free trade and low tariff legislation. It is singular how the democrats attempt to show that the duties collected under the McKinley law were too small to supply the - needs of the Government. ■Why do 1 hey adopt an mOome tax, if it be not for the purpose of raising revenues so as to'make up for an unexpected deficiency under their new bill? The hue and’ery of these "gentlemen have -been for twenty-five years that protection collected too much money. When you want some one to blow hot and blow cold in the same, breath I woulcT refer you to the ordinary, plain, free trade democrat of Nor th America.”