American Treasury Outlook

Too much, we venture lo thiuk, is being inade uf tli di'lii-it in the United States revenue for July aud the iirst half of August. A nioiith and a half is a very short time from which to estimate the probable resul t of a uation's income aud expenditure, and just npw there are exceptional reasons wby we should he slow to junip to any conclusión. During the live uiouths iinmediately preceding the coming uto forcé of the Dingley Taritf the importa of foreign goods iuto the United States were on such an enormous soale that it was forseen by everyone that for several rnonths aiter there would be a great falliug oft', and that consequently there would be a considerable decline in custonis duties. The very object of the exceptional imports from February to July was to avoid paying the higher duties now in forcé. Therefore a falüug oif in the customs revenue need excite neither surprise nor apprehension. It may be said that the prohibitiva character of :ie Dingley Tariflf wilt greatly reduce uports. Probably it will, hut if the umerican people are prosperous they vill iusist uj)on having the necessities, omforte aud luxuries tu which they lave been accustomed, and by and by, ousequently, tlie importa will increase. Resides, it is now certain that the crops i the United States will he exueptionaly large, while in Europa they will be ad, takeu as whole. ïherefore there ill lx an unusual demand for Anierian wheat, and consequently the irmers will b able to sell freely at ood prices. The railway companies vill also do well, and so will likevise the intermediantes iú the graiu rade. Therefore the people will have ïore mouey to spend, and surely it i atural to aasutne tliat that will mean n increase yiehl from tlie interna! evenue. We fail to see, then, any eason for the present to be alarmed bout the coudition of the Treasury. Vliat may happen when the discussiou f currency reform begins is an entirely illerent question. - The "Statist," Lonon, August 21, 1897.