Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1891-12-18
TREASURY DEPARTMENT.
The Question of Foreign Commerce Di
cussed--Some Statistics.

The Question of Foreign Commerce Dis
cussed--Some Statistics.
The general interest in the operations
OF the treasury department has been much
augmented during the last year by reason
of the conflicting predictions which &C
companied and followed the tasitf and
other legislation of the last congress af-
fecting the revenue, as to the results of
this legislation upon the treasury and
upon the country. On the one hand it was
contended that imports would so fall off
as to leave the treasury bankrupt and
tina, the prices of articles entering into
the living of the people would be so en-
HANGED as to only disastrously affect their
comfort and happiness; while ON the other
it was argued that the loss to the
revenue. largely the result of placing
sugar on the free list, would be direct
gain to the people; that the prices of the
necessaries of life, including those most
highly protected, would not be enhanced ;
that lab Dor would have u larger market and
the prices OF the products of the farm adj
vanced; while the treasury surplus and
receipts would be adequate to meet the
appropriations, including the large excep-
tional expenditures for the refunding to
the states of the direct tax, and the re-
dempton of the Il per cent. bonds. 1t is
not my purpose to enter at any length into
the discussion OF the effect OF the legisla-
ton which has been referred to, but a
brief examination Of the statistics of the
treasury and IL general glance at the state
of business throughout the country, will,
think. satisfy any impartial inquiry that
its results have disappointed the evil
propheses of its opponents and in Il large
measure realized the hopeful predictions
OF it's friends. Rarely. if ever before in
the history of the country, has there been
a time when the proceeds of one days
labor or the product of one farm crop
that could purchase such a large amount
OF things that enter into the living of the
that full test will develop the
fact that the tariff act Of the Fifty first
congress is very favorable in it's average
effect upon the prices of articles entering
into common use.
Foreign Commerce.
During the twelve months from October
!, 1890, to September 80, 1891, the total
value Of our foreign commerce imports
and exports combined) was 81, 747 ,SU6, 400,
which was the largest in the history of the
United States. The largest in any pre-
amounted to Sr647, ls0.G93, and the last
year exceeds this enormous aggregate by
over 500, 00O, 900. 1t is interesting and to
some will be surprising to know that dur
ing the year ending September ~, 1871, our
imports of merchandise amounted to 1924,
7l5,270, which was an increase of more
than 81 100000 over the value of the inn
ports of the corresponding months of the
, previous year. when the imports of mer-
chandise were unusually large in anticipa-
ton of the tariff legislation then pending
The average annual value of the imports
of merchandise for the ten years from 1851
to 1890, was 1852. 1S7,5222, and during the
year ending September 30, 1891, this an
nual average was exceeded by Sl32 SIS, 469.
! The value of free imports during the
| twelve months ending September 30, 1891,
was sllS,O92,3 S7 more than the value OF
free imports during the corresponding
twelve months of the preceding year, and
there was. during the same period, a de-
crease of SlO6,S46,50S in the value of i'm.
ports of dutiable merchandise. The per
ccntage of merchandise admitted free OF
duty during the year to which have ref.
erence. the first under the new tariff, was
H. IS, while during the preceding twelve
months, under the old tariff, the percent
age was 34.27, an increase of 1881 pei
cent. If we take the six months ending
September 30, last, which covers the time
during which sugars have been admitted
| free Of duty, the percent of value of mer
chanJise imported free of duty is found K
! be 55a7, which is . larger percentage o