The Tariff in Our TimesTarbell, Ida M. (Ida Minerva)
History
The Tariff in Our Times
Tarbell, Ida M. (Ida Minerva)
Tariff -- United States -- History
There had been various other plans offered. Mr. Aldrich would apply the
surplus to the purchase of United States bonds, or as a prepayment of
interest on the National debt. One Congressman wanted it applied in
bounties to wheatgrowers, another wished it loaned, another would devote
it to building the Ead’s ship railway, several proposed using it in
elaborate educational schemes. The general consent that the best way to
get rid of it was to spend it, of course made Congress reckless in
appropriations, particularly of pensions. They jumped from $87,500,000
to about $107,000,000 in Harrison’s first year, and in his fourth year,
they had risen to $159,000,000. But spending it was not enough. The
taxes must come down some $60,000,000 a year and the Republican
suggestion had been, “cut down the internal revenue.” The Republican
platform declared, “We favor the entire repeal of internal taxes rather
than the surrender of any part of our protective system.” Mr. Allison
and his committee considered many suggestions for the repeal of all
internal revenue taxes but stopped after taking them off tobacco. Mr.
McKinley announced that he had not been compelled to abolish the
internal revenue though he was ready to do so if it was necessary to
save the protective system. He estimated that the taxes on tobacco and
alcohol used in the arts, which his bill did abolish, would amount to
$10,000,000. The other $50,000,000 of reductions he proposed to meet in
two ways. The first was by so increasing duties that importations would
fall off, _i.e._ Mr. McKinley accepted the principle of Mr. Kelley and
Mr. Aldrich that the way to reduce revenue from customs is to make
foreign goods which might compete with domestic products too dear to
buy. When the Democrats attacked his increase with the assertion that he
would increase taxation and so revenue, he answered: “That statement is
entirely misleading. It can only be accepted upon the assumption that
the importation of the present year under this bill, if it becomes a
law, will be equal to the importations of like articles under the
existing law; and there is not a member of the Committee of Ways and
Means, there is not a member of the minority of that Committee, there is
not a member of the House on either side, who does not know that the
very instant that you have increased the duties to a fair protective
point, putting them above the highest revenue point, that very instant
you diminish importations and to that extent diminish the revenue.”
Public-domain text, read in full here on John Shaqi.
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