When was it published?

September 10, 1902 in The Lexington Dispatch

Domestic News September 10, 1902

The Lexington Dispatch

Q: What keywords are associated?

Bond Issue, Financial Deficit, Tariff Reduction, Government Revenue, Democratic Sources

Lexington, Lexington County, South Carolina

View full issue View on Library of Congress PDF Page 6

What is this article about?

Democratic sources report the government plans a large bond issue due to a $46 million financial deficit, attributed to unwise tariff reductions. The text argues tariffs mainly tax the rich, who consume imports, tobacco, and whisky, providing key revenue sources.

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OCR Quality

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Full Text

It is reported from Democratic sources that another enormous bond issue is contemplated by the government. It is claimed that this issue was made necessary by a $46,000,000 deficit in the country's finances. This deficit is conclusive evidence that it is unwise and impolitic to reduce the tariff. Contrary to the teachings of our two-for-a-nickle politicians the rich, and not the poor, pays this tariff tax because they are in the main sole consumers of imported goods and the users of tobacco and the drinkers of whisky—both luxuries—furnish the government with revenue from its only other source.

What sub-type of article is it?

Economic Politics

What keywords are associated?

Bond Issue Financial Deficit Tariff Reduction Government Revenue Democratic Sources

Domestic News Details

Outcome

$46,000,000 deficit in country's finances; another enormous bond issue contemplated

Event Details

Reported from Democratic sources that the government contemplates another enormous bond issue, made necessary by a $46,000,000 deficit in the country's finances. This deficit is evidence that reducing the tariff is unwise and impolitic. Contrary to two-for-a-nickle politicians, the rich pay the tariff tax as main consumers of imported goods, and users of tobacco and drinkers of whisky furnish government revenue from its only other source.