The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-09-07
LAST YEARS FOREIGN TRADE.

The summary statement of the foreign
trade Of the United States for the year end
ing June so, 1891, has now been made up,
and is before the public. 1t shows that the
total imports of foreign merchandise that
year were SS44, 907, III, as against $751; 3d.
400 during the previous fiscal year. During
rart of the year 1S90-91, some OF the pro-
visions of the Mckinley tariff were in force;
yet the consumption of foreign goods shows
an increase for the year, in round figures,
of S45 900, 600, say per cent. The volume
of importation has fiuctuated not always
with the variations in the tariff, but rather
in harmony with the general condition of
the country. When the people at large
have been prosperous and business has
been brisk, importations have been heavy,
and when hard times have prevailed, and
the rewards of industry and labor have been
small, importations have been light. When
people have money they buy goods, but
when people are pinched they will curtail
their purchases.
The exports of domestic goods during the
fiscal year 1S9O-91 were SS72, 270, 2S3, as
against SS4j. 293, SOS exported in the previous
fiscal year, an increase of about S27o0O,O00,
a little over 3 per cent. 1t thus appears that
our exports of domestic produce and manu-
facturers are not increasing as fast as our I'M
ports of foreign goods, In instituting COM
parsons between our aggregate imports and
our aggregate exports, 81, 100000 must be
added to the total expectation of domestic
goods. for foreign merchandise re-exported,
The increase in exports in 1S90-9l was in
products of agriculture and manufactures.
There is no increase in the exports of the
G - iya fGh mr.
miscellaneous products, which do not come
under the head of manufactures. With the
exception of an increase in the export OF
wheat to France, there was no particular
change last year in the movement of food
products from this country, but the export
of cotton shows an increase OF about
$40. 600, 600, which exceeds the aggregate in
crease Of all classes of exports. The advance
in the cotton crop from seven TO nine million
bales is becoming a potent factor in our
mercantile exchanges; in 1S90-91 our eX-
ports OF cotton were valued at over $3.50
goo, 0O0-more than our aggregate exports OF
all kinds of produce and merchandise at the
close OF the war Our exports Of manufac-
tured cOttons show an increase of S., 500, 600
altogether TO China.
Comparing the exports of lS90-91 with the
average of the preceding five years we fnd
that the largest increase this past year was
in raw cotton. II counts for SOC 100000
Next to this come meat products, in which
the incre ase is nearly SS7,000000, almost
altogether TO Great Britain, for France,
q ermany ana other European countries
lave either excluded American provisions
or levied prohbitOry duties thereon. In
iron and steel and their manufactures an
increase of S9,60O,C00 is noted; this was
chiefly 10 South and Central America. lu
cattle there is an increase of Sl4. o0oOO0,
chiefly TO our neighbors north and south.
The only article in which there was con-
siderable falling off last year was corn and
coTn-meal; We exported 100000 less.
Europe reduced its consumption of Amer-
can corn and corn meal by S2I,000,CG0
worth; other nations increased their con-
sumption so as to make up the difference
between this figure and Sl00O0,000.
Continuing the comparison between the
domestic exports of 1S90-91 with the average
of the preceding five years, We find The in
crease last year to be SAG, 5S5, CS4-say 20
per cent. This conveys a much clearer
picture of the growth of our foreign trade
than the comparison between last year and
the year before. If cur exports continue to
grow at this rate it will not be long before
the United States becomes the leading CON-
mercial nation of the world. We have the
advantage over other countries that we pos
sess a surplus of three staple articles which
the world must have-cotton, breadstutfs
and provisions. Whatever we can produce
outside Of these three staples in the way Of
manufactures is so much clear gain. When
We come to supply Central and South
America and the Pacific countries with the
textiles and hardware which they now get
from Europe the exchanges will turn, so
that New York and San Francisco, and not
London, will be the financial centers Of the